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Show MENDENHALL CLASS SPEAKER John F. Mondonhnll, manager of he Mendenliall Iiank, delivered a rery instructive talk to the eco-lonilcs eco-lonilcs class of the Springville high tchool at the regular class period fniesday. 'Mr. .Mendenhall discussed t lie gon-rnl gon-rnl business of banking, organiza-;lon, organiza-;lon, general history, and the purpose pur-pose of the banking system. '. Banking, he told the students, has Misted in some form or other since civilization began. The present kinking system really originated in JHtM, he pointed out. ; To organize a national bank a Charter must be obtained from the lulted States government and the .bank Is under the federal govern-'inent's govern-'inent's supervision. Such u bank Iroay Issue Its own notes. A stale ib.'ink must apply to the state bank-fug bank-fug department for a charter, i Those desiring to organize a bank must give satisfactory assurance that circumstances are favorable (efore it will be granted. He then told of the federal re-lerve re-lerve system and gave the students in Insight into its operation. The runcllons of n bank and tbe per-innnel per-innnel of Its officers were discussed y Mr. Mendonhnll. |