Dictionary of Banking: A Concise Encyclopaedia of Banking Law and Practice (Classic Reprint)

Excerpt from Dictionary of Banking: A Concise Encyclopaedia of Banking Law and Practice

The importance of a full and accurate knowledge of Banking in its various branches to all classes of the mercantile community cannot be over-estimated. Directly the world emerged from that barbaric condition in which Barter was the recognised method of exchange, a more or less adequate acquaintance with the functions of money became imperative, at least in all progressive communities. By slow degrees, as is well known, substitutes for money were invented and became the usual media by which financial transactions were conducted, and thus originated the theory and practice of Banking - a science and an art - subjects of paramount importance to every person who has any connection with business. In fact, the business of the world could not possibly be carried on except by the medium of Banking, and a lack of adequate knowledge upon this subject accounts for many of the disasters which very frequently overtake men who are in other respects well equipped for commercial success.

Whilst a knowledge of Banking, therefore, is essential to the mercantile classes in general, there are several classes to whom the subject should make a special appeal. One of these is represented by the student who is taking a commercial course. The more lie can learn of Banking, the better it will be for his business prospects. But in the case of the bank clerk, or of any person who is anxious to follow a financial career, not only must the subject of Banking be studied with accuracy and care, but it must he followed up until every possible point has been mastered. Books dealing with branches of Banking will undoubtedly be of great assistance, but something more is required - a work which will supply him in one volume with that full knowledge which he cannot otherwise obtain, except by long and tedious search.

To the Bank Manager, no matter how able and practical lie may be, there must occasionally arise difficulties in his everyday life which call for prompt and decisive action. To such a person a comprehensive and authoritative work on Banking must be an incalculable boon.

Again, although perhaps not quite in the same degree, a reliable work on Banking must be of undoubted benefit to Accountants, Book-keepers, Cashiers, Secretaries of Public Companies, and others who occupy similar positions.

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