Date Original
1921-1925
Description
This collection contains three letters and minutes of the Ex-President's Division of the Arkansas Bankers Association of Little Rock, Arkansas.
Biographical/Historical Note
There was not a bank within the boundaries of Arkansas when it became a state in 1836 — gold and silver money was often buried for safekeeping. The first act of the first Arkansas Legislature was the creation of two banks: the Real Estate Bank and the State Bank; the two banks began business in 1837, issuing paper money rather than coins of that time, and thus creating an instability in the value of currency. After just six years, the two state banks were liquidated, and the need for a sound bank led to the appearance for private banking in Arkansas. After several shaky decades, the banking industry in Arkansas began to show steady growth in the 1880s. Following in the footsteps of the American Bankers (formed in 1875), and bankers in the neighboring states of Texas and Mississippi, Arkansas bankers began circulating the idea of a statewide association of bankers. It was W.B. Worthen, president of what was then the Associated Banks of Little Rock, who took the first step in forming an association by inviting Arkansas bankers to a “Convention of Arkansas Bankers” in Little Rock on October 20-21, 1891. Representatives from 40 Arkansas banks were present at the meeting.
Physical Description
Document, 8.5" x 11"
Geographical Area
Arkansas
Language
English
Identifier
SMC.099.016
Resource Type
Text
Collection
Arkansas Bankers Association records, SMC.099.016
Publisher
Arkansas State Archives
Contributing Entity
Arkansas State Archives
Recommended Citation
Arkansas Bankers Association records, Arkansas State Archives, Little Rock, Arkansas.
Rights
Use and reproduction of images held by the Arkansas State Archives without prior written permission is prohibited. For information on reproducing images held by the Arkansas State Archives, please call 501-682-6900 or email at state.archives@arkansas.gov.
Disciplines
United States History
