Download PDF by Michael J. Hightower: Banking in Oklahoma Before Statehood

By Michael J. Hightower

This full of life booklet takes Oklahoma background into the realm of untamed West capitalism. It starts with an invaluable survey of banking from the early days of the yankee republic till advertisement styles coalesced within the East. It then follows the process American growth westward, tracing the evolution of trade and banking in Oklahoma from their genesis to the eve of statehood in 1907.

Banking in Oklahoma earlier than Statehood is not only a narrative of fellows sitting in the back of desks. writer Michael J. Hightower describes the riverboat exchange within the Arkansas and pink River valleys and freighting at the Santa Fe path. Shortages of either forex and credits posed significant impediments to local trade till storekeepers solved those difficulties by way of relocating past barter to open advert hoc institutions referred to as service provider banks.

Banking went via a wild early life throughout the territorial interval. The period observed robberies and insider shenanigans, rivalries among banks with territorial and nationwide charters, hypothesis in land and traditional assets, and land fraud within the Indian Territory. yet as banking matured, the better-capitalized associations turned the nucleus of industrial tradition within the Oklahoma and Indian Territories.

To inform this tale, the writer blends documentary ancient learn in either public and company data together with his personal interviews and people who WPA field-workers carried out with old-timers throughout the New Deal. Bankers have been by no means faraway from the motion in the course of the territorial interval, and the associations they outfitted have been either reason and impact of Oklahoma’s inclusion in nationwide networks of banking and trade. The no-holds-barred model of capitalism that breathed existence into the Oklahoma frontier has remained alive and good because the days of the fur investors. As one knowledgable observer stated within the Nineteen Eighties, “You’ve regularly had the playing spirit in Oklahoma.”

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Banking in Oklahoma Before Statehood by Michael J. Hightower

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