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bnak

Essay specific features

 

Issue:

History

 

Written by:

Erma T

 

Date added:

April 29, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

9 / 2287

 

Was viewed:

711 times

 

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Essay content:

Since the bank notes were promises to pay specie to the bearer on demand, banks had to maintain adequate reserves in order to do so. Defining adequacy, however, was no easy task, and numerous banks were forced into bankruptcy because they had overexpanded their loans and discounts. Conservatism was the hallmark of the earliest commercial banks...
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Defining adequacy, however, was no easy task, and numerous banks were forced into bankruptcy because they had overexpanded their loans and discounts. Conservatism was the hallmark of the earliest commercial banks. The thinking of the time favored the establishment of a single quasi-governmental bank in each state that would operate in the public interest under private management...
displayed 300 characters

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