1792-1892. One Hundred Years of the Hartford Bank, Now the Hartford National Bank, of Hartford, Conn
1792-1892. One Hundred Years of the Hartford Bank, Now the Hartford National Bank, of Hartford, Conn
P H Patrick Henry Woodward
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Since money constitutes the most generalized and efficient form of value, the introduction of banks immensely facilitated the marvelous growth which has marked the westward march of empire. At different times in almost every part of the country, ignorance, rashness, and Digitized by VjOOQIC THE HARTFORD BANK gj dishonesty of management have caused incalculable losses to the public, but such disasters, in every instance avoidable, prove no incurable malady in the system, but illustrate with anot...her class of evi- dence the danger of intrusting to folly or knavery the manipulation of machinery that calls day by day for prudence, foresight, and integrity. In the adjustment of accounts between the Con- federation and the States the commissioners made their final report in December, 1793, crediting Con- necticut with a balance of $619,121. By act of Congress the creditor States on the sums found due to them were allowed interest from Dec. 31, 1789, at the rate of four per cent, per annum, and the several amounts, bearing three per cent, annual interest, were placed to their credit on the books of the United States treasury.
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