Abstract
tioning of these systems of state banking varied from state to state not because of differences in the type of banking in operation, but because of the differences in the general level of politics and in the extent to which political influences were allowed to interfere with the activities of the banks. Branch banking under special charter regulations prospered in many sections of the South at the same time that Northern and Western states were being visited with all the evils of wild-cat banking under the free or independent banking laws. Free banking did not spread widely throughout the South after 1838 as it did in the Northern and Western states. It was not until after i85o, and especially after the organization of the national banking system in 1863,'that the Southern states adopted the system of independent or unit banking.'
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