ABSTRACT
Smith calls deposit banks public establishments where individuals can deposit metallic values; that is to say monies of the country or foreign countries, and gold and silver ingots. The bank opens a current account for them; they can dispose of the value deposited without withdrawing it, by simply having the amount they wish to transfer to him credited to another person. The oldest banks in Europe, those of Venice, Genoa, Hamburg or Amsterdam were founded on this model and have survived until the present day. I believe there are no longer any similar ones remaining except in Stockholm.
