Before a central bank was established in the United States, people known as currency traders were able to buy and sell the monies from individual states.
A financial entity with permission to accept savings and issue loans is known as a bank. Banks efficiently distribute money from savers to consumers.
Before the banks came into existence there was still a need for money from an individual to have, and those people usually took money from currency traders who would take gold and lend the required amount of money in you can also sell the gold also.
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