I said that the business of banking proper consisted in loaning money, discounting bills, facilitating exchanges of productions by the agency of commercial paper, and in receiving and disbursing the deposits of individuals.
Sherman defines the core functions of banking, emphasizing loaning and facilitating exchanges.
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More from John Sherman
I wrote an adverse report, but it was suppressed in the committee.
The policy of this country ought to be to make everything national as far as possible.
Nothing is wanting but cultivation to make this a most delightful country.
We have done no wrong; we have no apologies to make, and no concessions to offer.
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