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Excerpt from California Laws Made Plain: Laws and Legal Forms Prepared for the Use of Farmers, Mechanics and Business Men
A bank is as indispensable in every business community as any other branch of business.
Banks are useful as places of security to deposit money. They are necessary and important to persons who wish to borrow - to the farmer who buys a farm, or who needs money to tide him over from the time of plant ing to the harvest period; to the business man who needs additional funds in his operations.
The bank acts in this double capacity. It gathers the surplus money of a community; offers its capital as a guarantee of its safe return; loans a part of this money to the active members of the community, stimulating activity in all lines of commerce. To the extent that the bank holds in its custody the funds of its community, to that extent it is of value and a benefit in that community.
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