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Banks Before The Civil War

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Imagining a time when a person could not take their money to the bank and have it processed, counted, and kept secure for them seems unfathomable. Dating back to the end of the Civil War in 1865, then up until 1879 there was an arrangement of knowledge that started banking practices that would influence future generations. The ideas that came about during these fourteen years were eventually formed into the National Banking System. (Friedman) There was an organization of money developed before this time, but nothing to the extent of what was beginning to take form during and after the United States entered the Civil War. Aside from minute changes, the configuration stayed largely the same. When the Civil War came to an end, the amount of national banks grew immensely. There was a decline in state banks near the end of the 1860’s, which led some people to believe that there was going to be an end put to national banks all together. This soon changed though and banks expanded their businesses. The National …show more content…

Some of these impacts may have been negative, while most have been positive. The Web is a great way to publicize and get a business’ name out, while not having to do much work outside the home or office. As stated before, it would be hard to find an industry that has not benefitted from the Internet, and online banking has had the most evident positive results thus far in history. (Stewart) As with all technological advancements, online banking starting out small, and has been growing ever since. Over thirty years have gone by since the start of taking banking to the Internet and there have been many situations that reflect it as a good thing, and then others opposing it as a bad idea. In all, the online industry continues to grow and advance each year with researchers coming out with new ideas to improve the banking

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