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Carmarthen Furnace Bank
The Carmarthen Furnace Bank is a bank established in Carmarthenshire in the 18th century as a result of the efforts of a Welsh entrepreneur and businessman called John Morgan. The banking business started by issuing tokens to facilitate an iron and tin works operation and then developed into a full-fledged bank. However, few records of the works, or the bank, exist. Origins The date of establishment of the Carmarthen Furnace Bank is unknown. However, in 1909 a copper printing plate for printing the bank's notes was found in the River Cothi. The plate is in the possession of Carmarthenshire Antiquarian Society, and a rubbing from it indicated that the bank was founded during the 1790s.Early Banks in West Wales, by Francis Green ( in West Wales Historical Records, The Annual Magazine of The Historical Society of West Wales, Volume VI, edited by Francis Green, Printed by W. Spurrell & Son, 1916) Establishment The bank was established by John Morgan, senior, the owner in 1778 of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
