Banking Enterprises in Utah, 1847–1880

Leonard J. Arrington

Business History Review, 1955, vol. 29, issue 4, 312-334

Abstract: The development of banking in Utah advanced by stages, each of which marked an increase in the degree of specialization practiced by institutions performing banking functions. After the first settlement of the territory in 1847, banking functions were assumed principally by the Church of Jesus Christ of Latter-day Saints (Mormon). With the inauguration of mining activity in the Mountain States in the early 1860's, formalized banking institutions were established in Salt Lake City. These miners' and merchants' banks predominated until the early 1880's when commercial banks were established in most of the settlement centers of the territory.

Date: 1955
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