The Ottawa Herald from Ottawa, Kansas on February 25, 1963 · Page 5
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The Ottawa Herald from Ottawa, Kansas · Page 5

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Ottawa, Kansas
Issue Date:
Monday, February 25, 1963
Page:
Page 5
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t TBE OTTAWA OMI0 Moniiy, Mraiiy •, 1M 1 'i III BANKING BEGAN... 100 .YEARS AGO TODAY One hundred years ago -- Wednesday, February 25, 7863 to be exact -- President Abraham Lincoln affixed his signature to a piece of legislation commonly known as the National Currency Act. The Act was significant for two reasons: 1. It established a notional paper currency backed by the United States Treasury. 2. It authorized the creation of a national banking system to operate alongside the existing state banking system. The addition of the Federal Reserve System in 1913 and of the Federal Deposit Insurance Corporation in 1933 added significantly to the strength and efficiency of American banking. Through these and o t /re r changes the dual banking system remained intact. Today, the century-old dual banking system stands as a proven instrunlknt for han'dling our credit arid currency needs efficiently and responsibly»in acord with the American principle of private ownership in the public interest. Down through the years Ottawa Banks have continued to add new services to meet the needs of an ex- ponding economy. Today Ottawa Banks provide savings accounts, mortgage loans, personal loans, business loans, safe deposit facilities, and numerous other specialized services undreamed of a century ago. On this the 100th Anniversary of modern banking, Ottawa Banks PLEDGE their continued efforts to maintain and provide the same excellent services to their customers consistent with sound banking practices. The Three Ottawa Banks have provided 231 years of continuous banking service to this community. * I •,i i \ i il FIRST NATIONAL BANK of OTTAWA KANSAS STATE BANK of OTTAWA PEOPLES NATIONAL BANK of OTTAWA . •.' u^'j^j^yi^. • ""**$$$£. • : : :^ : m •".&0* SS

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