Acceptances Their Importance as a Means of Increasing Simplifiying Domestic Foreign Trade (Classic Reprint) - Softcover

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Excerpt from Acceptances Their Importance as a Means of Increasing Simplifiying Domestic Foreign Trade

The American Exchange Bank was organized in 1838, antedating by many years the National Banking System. In 1865, it was converted into a National bank, and was one of the first banks to enter the Federal Reserve System.

George S. Coe, who served as president of this bank from 1860 to 1894, clearly foresaw the time when material changes in our banking system would be needed. In 1881, Mr. Coe predicted the change from bond-secured currency to currency secured by commercial assets, and then declared that.

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