Bank

1.

A bench or seat; the bench or tribunal occupied by the judges; the seat of judgment; a court. The full bench, or full court; the assembly of all the judges of purpose of hearing arguments on demurrers, points reserved, motions for new trial, etc., as distinguished from the sitting of a single judge at the assises or at nésé privs und from trials at bar. But, in this sense, bane is the more usual form of the word, 2. An institution, of great-value in the commercial world, empowered to receive deposits of money, to make loans, and to issue its prowissory notes, (designed to circulate a3 money, and commonly called “bank-notes” or “bank-bills,”) or to perform any one or more of these functions. The term “bank” is usually restricted in its application to an incorporated body; while a private individual making ib his business to conduct banking operations is denominat- éd a “banker.” Also the house or place where such business is carried on. Banks in the commercial sense are of three kinds, to-wit: (1) Of deposit; (2) of discount; (3) of circulation. Strictly speaking, the term “bank” implies a place for the deposit of moncy, as that is the most obvious purpose of such an institution. Originally the business of banking consisted only in receiving deposits, such as bullion, plate, and the like, for safe-keeping until the depositor should see fit to draw it out for use, but the pusiness, in the progress of events, was extended, and bankers assumed to discount bills and notes, and toloan money upon mortgage, pawn, or other security, and, at a still later period, to issue notes of their own, intended as a circulating currency and a medium of exchange, instead of gold and silver. Modern bankers frequently exercise any two or even all three of those functions, but it is still true that an institution prohibited from exercising any more than one of those functions is # bank, in the strietest commercial sense.

17 Wall. 118; Rev. St. U.S. § 3407. 3.

An acclivity; an elevation or mound of earth; usually applied in tlis sense to the raised earth bordering the sides of a watercourse.