Banking. Banking is a business which seems to be as old as civilization. Money lenders and the
payment of usury are mentioned in the Bible and in other ancient literature, but hanking in its
modern acceptation is by many believed to be an evolution that has been the natural outgrowth of
industrial development and the establishment of civic order.

Not many centuries ago each man was in a large degree his own defender and protector. To
narrow the illustration to London, for instance : To travel in safety in the streets of that city after
nightfall it was necessary to go armed and in company. The carrying of valuables was an extra
invitation to attack. Goldsmiths, who of necessity had to keep on hand large stocks of the precious
metals, took special precautions for the safe keeping of their property and people acquired the
habit of depositing money with them, paying for the privilege in order to secure the increased
protection.