Book Description

Excerpt from Acceptances: Their Importance as a Means of Increasing and Simplifying Domestic and Foreign Trade In presenting the subject of Acceptances for the consideration of the business men of the United States, we do so with a feeling of pride in the part that this bank has played in the commercial development of our country. The American Exchange Bank was organized in 1838, ante dating by many years the National Banking System. In 1865 it was converted into a National Bank, and it 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 com mercial assets and then declared that, after all, the latter was the most natural, useful and reliable basis. He also said. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.