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To: ncpatriot

Banks, in general, were not popular with the Citizenry back then. They were, at best, considered a necessary evil. most bankers were regarded as crooks. However they are cases where the Citizenry made sure that their town bank was the last one that bunch of robbers robbed. I believe that the Dalton Gang met its demise after successfully robbing a bank. They got the money, but when they went out in the street that is where their troubles begin. And ended. They went from the street to Boot Hill.


8 posted on 01/14/2015 6:58:49 AM PST by sport
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To: sport

Talk about parallel posts!


10 posted on 01/14/2015 7:08:08 AM PST by painter ( Isaiah: “Woe to those who call evil good and good evil,")
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To: sport

The big reason that banks were looked at askance goes back to the Panic of 1837, America’s worst depression until the Great Depression.

http://en.wikipedia.org/wiki/Panic_of_1837

At the time, many banks issued their own currencies.

Earlier the state of New York had issued bonds to build the Erie Canal, which was a huge success, being finished before schedule and under cost, so the bonds paid a fortune.

So other states decided to do similar canal systems, and issued bonds before doing engineering studies, which soon showed they wouldn’t work. Then endless numbers of people who had invested their life savings in the bonds were wiped out, right when Andrew Jackson issued his “Specie Circular”, which wiped out all of the bank currencies and thousands of smaller banks, most of which were just small businesses with little or no specie.

So the typical person regarded banks with the same disdain that they gave a hearty dose of the clap.


18 posted on 01/14/2015 8:55:16 AM PST by yefragetuwrabrumuy ("Don't compare me to the almighty, compare me to the alternative." -Obama, 09-24-11)
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