Rolnick, Arthur J.; Weber, Warren E. - Federal Reserve Bank of Minneapolis - 1998
bank notes throughout the region. We reconsider this history and find the public-purpose view of the Suffolk Banking System …The best-known example of a privately created and well-functioning interbank payments system is the Suffolk Banking … System. Operating in New England between 1825 and 1858, it was the first regionwide net-clearing system for bank notes in the …