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Chapter 27: Business Plan
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... r told Medres how banks could gather deposits from nobles and merchants.
The purpose of the bank is to make it convenient for trading that requires a huge amount of money. Nobles and merchants will deposit their money in a bank, and they will receive a commercial paper that could be withdrawn at any branch of the bank.
The commercial paper on earth is a short-term debt, but Edgar plans to use it as paper money that could be used for trading between merchants, nobles, and the roya ...
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