The Land-Bank System in the American Colonies

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Abstract
One need not be very conversant with modern money, credit, and banking to find in them a kinship with the land banks of the Colonial era. In a manner suggestive of our Federal Reserve System, the Colonial land banks exerted a wide influence over the economic life of the times. Indeed, the functions of the land-bank system embraced every phase of the Colonial economy. Its history to a large degree comprises the history of currency, money values, inflation, credit, public finance, and economic development in eighteenth-century America.

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