By Michael J. Hightower
Banking in Oklahoma sooner than Statehood is not only a narrative of fellows sitting at the back of desks. writer Michael J. Hightower describes the riverboat alternate within the Arkansas and crimson River valleys and freighting at the Santa Fe path. Shortages of either foreign money and credits posed significant impediments to local trade until eventually storekeepers solved those difficulties by means of relocating past barter to open advert hoc institutions often called service provider banks.
Banking went via a wild youth in the course of the territorial interval. The period observed robberies and insider shenanigans, rivalries among banks with territorial and nationwide charters, hypothesis in land and usual assets, and land fraud within the Indian Territory. yet as banking matured, the better-capitalized associations grew to become the nucleus of business tradition within the Oklahoma and Indian Territories.
To inform this tale, the writer blends documentary ancient study in either public and company files along with his personal interviews and those who WPA field-workers performed with old-timers throughout the New Deal. Bankers have been by no means faraway from the motion through the territorial interval, and the associations they outfitted have been either reason and influence of Oklahoma’s inclusion in nationwide networks of banking and trade. The no-holds-barred model of capitalism that breathed lifestyles into the Oklahoma frontier has remained alive and good because the days of the fur investors. As one knowledgable observer stated within the Eighties, “You’ve consistently had the playing spirit in Oklahoma.”
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Banking in Oklahoma Before Statehood by Michael J. Hightower
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