By Michael J. Hightower
Banking in Oklahoma prior to Statehood is not only a narrative of guys sitting in the back of desks. writer Michael J. Hightower describes the riverboat alternate within the Arkansas and purple River valleys and freighting at the Santa Fe path. Shortages of either foreign money and credits posed significant impediments to nearby trade till storekeepers solved those difficulties via relocating past barter to open advert hoc institutions referred to as service provider banks.
Banking went via a wild early life through the territorial interval. The period observed robberies and insider shenanigans, rivalries among banks with territorial and nationwide charters, hypothesis in land and typical assets, and land fraud within the Indian Territory. yet as banking matured, the better-capitalized associations turned the nucleus of business tradition within the Oklahoma and Indian Territories.
To inform this tale, the writer blends documentary ancient learn in either public and company files along with his personal interviews and people who WPA field-workers carried out with old-timers through the New Deal. Bankers have been by no means faraway from the motion through the territorial interval, and the associations they equipped have been either reason and impression of Oklahoma’s inclusion in nationwide networks of banking and trade. The no-holds-barred model of capitalism that breathed existence into the Oklahoma frontier has remained alive and good because the days of the fur investors. As one knowledgable observer stated within the Eighties, “You’ve constantly had the playing spirit in Oklahoma.”
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Banking in Oklahoma Before Statehood by Michael J. Hightower