Bank England
Posted in Uncategorized on 05/19/2004 08:21 pm by admin
Bank England
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 UK GREAT BRITAIN BANK OF ENGLAND 1 POUND WPM 377 377a 1978 80 UNCIRCULATED  US $3.00
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 3 Lot Canada Paraguay England Paper Bank Notes US $.99
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Banking and Finance
Bank definitions
1. REYNOLD
"The Bank is the factory of appropriation."
2. DR. HL HART
"A banker is one who is in the normal course of its business receives money to reimburse honoring checks on persons to whom or on whose behalf he receives. "
3. PROF. CROWTHER
"The Bank is an institution that receives pay and thereby creates credit money."
4. KEYNES
"A bank is an institution that accepts deposits and loans in advance.
Evolution of Banking
About a thousand years ago there was a nation called "SUMERIAN" which began to lend to the public. These loans are repayable in cash and commodities. Sumerian used pieces of gold and silver as money.
1. Banking in Iraq for two thousand year tradition of banking has been introduced and developed in Iraq. King described the legal provisions in writing for the granting of loans and Mud cakes are used to loan agreements. Interest rates on these advances was 33.3% PA 2. BANKS IN GREECE
Bank of Greece has reached Iraq and had made great progress in the 14th century BC in the temples in Greece served first banks. In 594 BC, a solaran revised the procedure for granting loans based on interest.
3. BANK OF ROME
BC 14th century institution was established in Rome which began to accept deposits and lent money needy persons.
4. BANKS IN AMERICA
In th U.S., the origins of banking is out conditions created by California Gold Rush from 1848.
5. BANKS IN GREAT BRITAIN
The Bank of England was founded as a private limited company in 1694. According to modern experts first modern bank was founded in 1694 in England named "Bank of England." It was the first bank that has obtained the sole authority to issue currency notes.
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