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Chapter 14 Section 2 &3. First Banking in Texas. In 1822, the Mexican government set up the first bank in Texas. In 1889 James Everett McAshan founded the first National Bank. Texas has problems with banks. - PowerPoint PPT Presentation
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Chapter 14 Section 2 &3
First Banking in TexasIn 1822, the Mexican government set up the
first bank in Texas.In 1889 James Everett McAshan founded the
first National Bank.
Texas has problems with banksTexas had cases of loans going bad and when they used the money they lost their farms
Private Banks Private banks became most common type of
bank during the Civil War.Most of them were wealthy cotton farmer’s.They were unregulated by state.Texans demand a better banking system.
State-Chartered BanksGovernment would regulate state-chartered
banks.Ranchers and Business people needed credit.Could also issue paper currency that retained
its value.They needed these services to grow.
Call for A State Banking SystemMain goal to change laws against state
chartered banks.Have both State and National banks in 1904.State banks began under Governor Thomas B.
Love.Law makers made Department of Insurance
and Banking to supervise banking.
Chapter 15 Section 3
Section 3 Texas IndustriesThe Lumber industry boom after the civil war
to build houses.As older industries grew, new ones sprang up.These including textiles, cottonseed oil
production, mining, and meatpacking.
Gristmills Milling WoodGristmills take grain and grind it.Sawmills operated in Texas.A sawmill is a machine that cuts timber into
boards.
Growth of Industry After the Civil War
Gristmills remain vital after the civil war.Flour and gristmills products comprised the
top industry in Texas in 1880