Difference between revisions of "Bank of the State of Arkansas"
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The '''Bank of the State of Arkansas''' was one of the first two banks established by act of the [[State of Arkansas]] in its Constitution of 1836, the other being the [[Real Estate Bank of the State of Arkansas]]. The Bank of the State of Arkansas was established to help businessmen and merchants by providing them with a pool of state-secured credit. | The '''Bank of the State of Arkansas''' was one of the first two banks established by act of the [[State of Arkansas]] in its Constitution of 1836, the other being the [[Real Estate Bank of the State of Arkansas]]. The Bank of the State of Arkansas was established to help businessmen and merchants by providing them with a pool of state-secured credit. | ||
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| + | The State Bank was headquartered in [[Little Rock]], with branches in Batesville, Fayetteville, and Arkansas Post. It issued about $750,000 in bank script before failing in 1843. After the failure of the State Bank and the Real Estate Bank the state legislature barred all banking in the state. This first amendment to the state constitution would remain in effect until the time of [[Reconstruction]]. | ||
==References== | ==References== | ||
Latest revision as of 08:25, 23 August 2009
The Bank of the State of Arkansas was one of the first two banks established by act of the State of Arkansas in its Constitution of 1836, the other being the Real Estate Bank of the State of Arkansas. The Bank of the State of Arkansas was established to help businessmen and merchants by providing them with a pool of state-secured credit.
The State Bank was headquartered in Little Rock, with branches in Batesville, Fayetteville, and Arkansas Post. It issued about $750,000 in bank script before failing in 1843. After the failure of the State Bank and the Real Estate Bank the state legislature barred all banking in the state. This first amendment to the state constitution would remain in effect until the time of Reconstruction.
References
- Tom Dillard, "Banking the Wild Old Way," Arkansas Democrat-Gazette, August 23, 2009.
