A History of Banking in all the Leading Nations

A History of Banking in all the Leading Nations, first published in 1896 by The Journal of Commerce, is a four-volume history of banking in North America, Europe, China and Japan. At the time of publication it was described as “the largest and most expensive treatise on banking yet published”.[1] Thirteen authors contributed to the work, all of whom were considered “eminent as bankers, financiers and political economists”.[2] The title page bears the notice “Edited by the Editor of The Journal of Commerce and Commercial Bulletin” (i.e. William Dodsworth). Continue reading “A History of Banking in all the Leading Nations”

History of credit unions

Credit unions are not-for-profit financial cooperatives. In the early stages of development of a nation’s financial system, unserved and underserved populations must rely on risky and expensive informal financial services from sources like money lenders, ROSCAs and saving at home. Credit unions proved they could meet demand for financial services that banks could not: from professional, middle class and poorer people. Those that served poorer urban and rural communities became an important source of microfinance. Continue reading “History of credit unions”

Goldsmith banker

goldsmith banker was a business role that emerged in seventeenth century London from the London goldsmiths where they gradually expanding their services to include storage of wealth, providing loans, transferring money and providing bills of exchange that would lead to the development of cheques.[1] Continue reading “Goldsmith banker”

History of private equity and venture capital

The history of private equity and venture capital and the development of these asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks. Continue reading “History of private equity and venture capital”

Goldsmith banker

goldsmith banker was a business role that emerged in seventeenth century London from the London goldsmiths where they gradually expanding their services to include storage of wealth, providing loans, transferring money and providing bills of exchange that would lead to the development of cheques.[1] Continue reading “Goldsmith banker”

Gold standard

gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was widely used in the 19th and early part of the 20th century. Most nations abandoned the gold standard as the basis of their monetary systems at some point in the 20th century, although many still hold substantial gold reserves.[1][2] In a 2012 survey of leading economists, they unanimously opined that a return to the gold standard would not benefit the average American.[3][4] Continue reading “Gold standard”

Forbes Bank

Forbes Bank was a bank in the British Crown dependency of the Isle of Man, providing private and business banking services to the local population.[1][2] Forbes Bank crashed spectacularly in 1843 resulting in hardship, unemployment, bankruptcy and destitution for many of the inhabitants of the Island.[1][2] Continue reading “Forbes Bank”