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Linking Lenders and Borrowers.
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- Abstract:
The article discusses the role of the commercial banking industry as a mediator between lenders and borrowers. A brief history of banking is presented, including the development of banks looking like their modern counterparts in Italy. In 1667, the Stockholm Bank has failed by issuing more bank notes than it could handle. Information on the paper money devised by economist Alfred Marshall to help French King Louis XIV is also provided.
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