The book Elementary Political Economy was written by author A B Atwood Bond Meservey Here you can read free online of Elementary Political Economy book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Elementary Political Economy a good or bad book?
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1. A bank of deposit is one in which money is deposited for safe keeping. Very few modern banks, however, confine their business simply to receiving deposits. 2. A bank of discount is one from which money is loaned. Usually these two classes are united. 3. A bank of exchange is one from which drafts, checks, certificates, and bills of exchange are issued to facilitate the transmission of funds. 4. A bank of issue is one from which demand notes are issued and circulated as money. BANKS. 53 Histo...ry of banks. There were banks in ancient Greece and Rome. Their business corresponded very nearly with that of modern private bankers. They received money on deposit, paying a low rate of interest, and loaned it to other parties at a higher rate. They also issued bills of exchange ; but they did not issue demand notes for circula- tion as money. There was, however, no great banking system like that of the present time. When civilization was overthrown by hordes of barbarians from the north, the Roman system of finance was destroyed ; and from that time till the twelfth century there were neither banks nor bankers worthy of the name.
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