3/8 Rcz'icik's of Books the government service in 1S84, and from that time until his death in 1 89 2 was actively engaged in the banking business in New York. The opportunities for continuous inquiry were consequently broken, although the historical interest still remained. The editor's preface states that Mr. Knox substantially finished his study relating to national banks, and accumulated a large part of the facts desired for treating of state banks, " but did not live to finish what he regarded as one of the most important undertakings of his life." The completion of the work was then put into the hands of the editors of V.hoda' s Jounial of Banking to which Mr. Knox from time to time had contributed a series of studies. These editors in turn called into co-oper- ation a large number of assistants from different states to amplify the local studies. Acknowledgment is also made of the assistance rendered by Mr. William B. Greene, for many years in the Comptroller's office, and familiar with the plans of Mr. Knox. The result of the labors of these various editors, contributors, and advisers, is the work now before us, — a large volume of nearly nine hundred pages. Like all others prepared under such circumstances it is in many ways unsatisfactory. It is a com- pilation rather than a well-digested treatise ; and judged even as a com- pilation, it is open to objection because of the repetitions. Nevertheless when account is taken of the conditions controlling the production of the work, the public is largely debarred from criticism and should be thankful for what is given. There are two ways in which the history of banking may be studied, — one relates to the machinery of banking, the laws controlling the in- corporation and the management of banks, with an account of the political relationships thus developed, and a description of the various technical processes by which the bank carries on its operations ; the other relates to the social and economic influence of banks upon the general life of the people. Most of the banking studies thus far made will be found in the first class, and this work is no exception. It is a record of annals, — dates, names, events and summaries of laws, — rather than an historical narra- tive which takes into account the forces shaping the development of banks and the consequences to the people in benefits or evils. The merit of this particular work is that it presents these annals in a more compendious and detailed form than can be found in any other volume. Parti., pp. 1-304, is directed to the history of banks operating under federal laws, including the Bank of North America, the First and Second United States Banks, and the national banks. For this earlier portion the treatment does not disclose any new or wide research, or even familiarity with the detailed labors of Professor Sumner as witnessed in The Financier and Finances of the American Revolution, and |the life of Andrew Jack- son. Occasionally there is an interesting expression of judgment in regard to men and the course of events. The author believes that if a bank had been established in 1775, it would have resulted in ample financial resources which would have given to Congress greater authority
