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Question
Early goldsmiths began to function as modern banks when they began to operate under a fractional reserve policy and
a. loaned gold.
b. issued receipts for gold deposited.
c. issued deposit receipts to borrowers in return for a note (loan).
d. when they received a banking charter from the government.
e. All of the above.
Answer
This answer is hidden. It contains 1 characters.
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