[jd777]

The National Bank performed the functions of the Central Bank just as the Bank of England (very similiar to the National Bank of the US) performs those functions for Great Britain. I see little difference but the names. Though the National Bank kept the profit for its shareholders.

We don't have a national bank. We have a central bank. The federal reserve is a central bank, not a national bank. Those are two different things. Not just different names. A central bank is a private corporation owned by memebers of the banking syustem. A national bank is owned by the governent. They are two different things. They can perform the same function (i.e. ISSUE CURRENCY), but they are different types of entities. "the bank of England" was a private central bank founded in 1688. It was nationalized in 1946. It is now a National Bank.

[justshutupandtakeit]

The terms have changed over the years and they now mean:

National bank- An incorporated commercial bank chartered by the government of the United States.

Bank of the United States- A quasi-public bank, operating under a congressional charter, which through a central office and various branches did a general banking business throughout the United States, issued bank notes and served as a depository for federal funds and as a fiduciary agent for the U.S. government.
Central bank- A bank which exists primarily for public fiscal purposes, which is controlled or in part by the government, and which turns over a large proportion of its profit to the government either directly of in the form of a tax. A central bank is usually charged with the responsibility of maintaining an adequate liquid reserve against the nation's bank credit, controlling the importation and exportation of money or precious metals, and providing a sound note issue. It also acts as a fiduciary agent for the government and as a banker's bank.

Dictionary of Economics- third edition Barnes and Noble.

These definitions have differences with your definitions. And the National banks now have nothing to do with Central banking or government banking.

It is important to use the correct terminology so I applaud your attempt to be more precise.

But it seems clear to me that there are areas of overlap between Central banks and the National Bank (Bank of the United States) which blurs the distinction. Central banks have more tasks today but those are added to the tasks performed by the National Bank of the past.

With those definitions in mind what are the main differences in the two concepts to you?