[Ads-l] Media request: Why are bank locations called branches?

Wed Oct 25 01:01:26 UTC 2023

Excellent points, Sali.
Wonderful citation, James. Thanks for sharing it.
Garson

On Wed, Oct 18, 2023 at 8:40 PM James Eric Lawson <jel at nventure.com> wrote:
>
> Along with and perhaps earlier than government (as mentioned by Janet
> Nguyen), churches developed branches, but the following is an early
> appearance of the figure applied to banks specifically:
>
> 1688  *A model for erecting a bank of credit with a discourse in
> explanation thereof. Adapted to the use of any trading countrey, where
> there is a scarcity of moneys: more especially for his Majesties
> plantations in America.* (EEBO TCP 2)  The said Assessors have also the
> Oversight and Controll of the whole Affair: To see the same be so
> managed: and to that end are daily to inspect the management thereof;
> and that the said Rules be duly observed on both parts, viz. as well on
> the part of the persons dealing with them, as of the managers
> themselves, in every branch of the Bank, that all be done with Justice,
> and Impartiality between them; to settle differences, in case any
> happen; and in the absence of the Managers, may supply that defect, by
> their personal transacting the same things, or allowing others as their
> Deputies.
>
> https://quod.lib.umich.edu/e/eebo2/B26903.0001.001?type=simple&rgn=full+text&q1=branch&submit=Go
>
>
>
> On 10/18/23 17:13, Salikoko S. Mufwene wrote:
> > This example shows clearly that the original question was not accurately
> > formulated, viz., in terms of location, because the location is given to
> > situate the branch. I have always understood "branch of a bank" as
> > 'offshoot' or 'satellite' of an institution that started earlier and
> > acts as a "proto-bank" of some sort called "headquarters." To me, the
> > usage sounds similar to that of branches in a language family tree
> > (thanks to August Schleicher?) or any kind of taxonomic representation
> > that uses lines. The only deviation is that in the case of banks,
> > "branch" denotes the endpoint rather than the lineage, like in West
> > Germanic branch" of Germanic languages. Thinking of the question in
> > terms of the verb "branch" helps answer the question. It applies to
> > rivers and roads too, I think.
> >
> > Sali.
> >
> > On 10/18/2023 1:26 PM, Dan Goncharoff wrote:
> >> I note a reference to a branch of the Bank of Scotland from December
> >> 1775:
> >>
> >> In the beginning of November a branch of the 'bank of Scotland was
> >> eftablished at Air, fimilar to thofe formerly eftablifhed at Dumfries,
> >> Kelfo, Inverness, and Kilmarnock [340 ].
> >>
> >> https://www.google.com/books/edition/The_Scots_Magazine/ut4RAAAAYAAJ?hl=en&gbpv=1&dq=bank%20scotlandbranch&pg=PA691&printsec=frontcover&bksoutput=text
> >> DanG
> >>
> >>
> >> On Wed, Oct 18, 2023 at 3:21 AM ADSGarson
> >> O'Toole<adsgarsonotoole at gmail.com>
> >> wrote:
> >>
> >>> A natural first step is to determine what the Oxford English
> >>> Dictionary has to say on the topic. The entry for "branch" mentions
> >>> the pertinent figurative sense with citations beginning in 1817.
> >>>
> >>> [Begin excerpt from OED]
> >>> branch NOUN
> >>> II. Figurative applications suggested by the relation of a branch to the
> >>> tree.
> >>>
> >>> II.9. A local office of business, subordinate to the main or head
> >>> office, as the ‘branch’ of a bank or other establishment.
> >>>
> >>> 1817 This London Union Society..establishing branches and affiliations.
> >>> Petition in Parliamentary Debates 1st Series 215
> >>>
> >>> 1875 Important banks, each possessing numerous branches.
> >>> W. S. Jevons, Money (1878) 257
> >>> [End excerpt from OED]
> >>>
> >>> Thomas Wycliffe published an essay in 1779 in which he proposed the
> >>> creation of a set of branches for a bank-like organization that would
> >>> be closely related to the government. Citizens would be able to
> >>> "safely lodge their wealth" in these branches.
> >>>
> >>> Date: 1786 (Pertinent article first published in 1779)
> >>> Book Title: On Government; Addressed To the Public
> >>> Author: Thomas Wycliffe
> >>> Publication Location: Liverpool, England
> >>> Section: On the Internal Government of Great Britain (First Published
> >>> 1779)
> >>> Start Page 127, Quote Page 150 and 151
> >>> Database: Google Books Full View
> >>>
> >>>
> >>> https://books.google.com/books?id=_a1gAAAAcAAJ&q=%22branches+for%22#v=snippet&
> >>>
> >>> [Begin excerpt]
> >>> ... let us next suppose this remaining moderate sum to be spread all
> >>> over the kingdom, agreeably to this plan of establishing branches for
> >>> the public funds in every county town, which branches would certainly
> >>> constitute a great many very convenient repositories of wealth, where
> >>> the citizens at large might always safely lodge their wealth, from the
> >>> time of acquiring that wealth, to the time of disposing of it in the
> >>> purchase of lands or other property, and then, under such regulations,
> >>> instead of calling this remaining moderate sum a national evil, and a
> >>> national burthen, perhaps it might be more properly called, a national
> >>> good and a national blessing.
> >>>
> >>> As to the advantage that government would receive from such an
> >>> institution as this, nothing can be plainer, than that by establishing
> >>> branches for the circulation of the public funds, in every county town
> >>> here mentioned, you would most certainly raise the price of stock, and
> >>> improve the public credit, by introducing a great many new purchasers
> >>> of stock; who are now discouraged from buying it ...
> >>> [End excerpt]
> >>>
> >>> Other early citations I found during a quick and narrow search were
> >>> also about bank-like organizations closely associated with the
> >>> government. Here is another example:
> >>>
> >>> Year: 1812
> >>> Title: The American Review of History and Politics, and General
> >>> Repository of Literature and State Papers
> >>> Volume 3
> >>> Printed for Farrand and Nicholas, Philadelphia, Pennsylvania
> >>> Section: Outlines of a Plan for the Regulation of the Circulating
> >>> Medium of the United States
> >>> Date: April 1812
> >>> Start Page 275, Quote Page 290
> >>>
> >>>
> >>> https://books.google.com/books?id=nC8ZAAAAYAAJ&q=%22These+branches%22#v=snippet&
> >>>
> >>> [Begin excerpt]
> >>> The institution to have a right of establishing branches, wherever
> >>> they may think proper. These branches to discount with their own
> >>> notes, payable on demand, in national notes, or specie, at their
> >>> option.
> >>> [End excerpt]
> >>>
> >>> The application of "branch" to components of government was already
> >>> established. See the 1712 cite below from the OED:
> >>>
> >>> [Begin excerpt from OED]
> >>> branch NOUN
> >>> II. Figurative applications suggested by the relation of a branch to the
> >>> tree.
> >>>
> >>> II.8. A component portion of an organization or system, a part of a
> >>> larger unity. branch of the legislature, one of the houses or chambers
> >>> into which the legislative body is divided.
> >>>
> >>> 1696 The bare Earth..is but one Member or Branch.
> >>> W. Whiston, Discourse conc. Mosaick Hist. Creation 11 in New Theory of
> >>> Earth
> >>>
> >>> 1712 A mixt Government, consisting of three Branches.
> >>> J. Addison, Spectator No. 287. ¶5
> >>> [End excerpt from OED]
> >>>
> >>> Hence, it might be possible that early writers who were describing new
> >>> quasi-governmental financial organizations decided to extend one of
> >>> the existing senses of "branch" (in the government domain) to apply to
> >>> the components of these new financial organizations.
> >>>
> >>> Garson O’Toole
> >>>
> >>> On Tue, Oct 17, 2023 at 5:56 PM Cohen, Gerald Leonard<gcohen at mst.edu>
> >>> wrote:
> >>>> Dear ADS-L members,
> >>>>
> >>>> Today I received a request from Public radio reporter Janet
> >>>> Nguyen for insight as to why bank locations are called
> >>>> branches, and with her permission I am sharing her message
> >>>> with ads-l.
> >>>>
> >>>> Would anyone be able to help on this?  Any thoughts would be
> >>>> very gratefully received.
> >>>>
> >>>> Gerald Cohen
> >>>>
> >>>> P.S. Here are her two messages to me today:
> >>>>
> >>>> Hi Professor Cohen,
> >>>>
> >>>> This is Janet Nguyen, with Marketplace! I hope you have been doing
> >>>> well since we last spoke for the piece I wrote on the origins
> >>>> of the term check<
> >>> https://www.marketplace.org/2022/08/05/check-please-but-wait-isnt-it-a-bill/>
> >>> . I am reaching out to you because I am writing another
> >>>> etymology-based piece, this time looking at why bank locations are
> >>>> called branches and whether any other businesses use that term
> >>>>   (of course, in politics, you have the judicial, legislative and
> >>> executive
> >>>> branches).
> >>>>
> >>>> I was wondering if you have any insight into this, or know anyone who
> >>>> would be able to help. This will be for a written piece on our website,
> >>>>   set to be published this Friday. As always, any help would be greatly
> >>>>   appreciated. Thank you so much.
> >>>>
> >>>> Best,
> >>>>
> >>>> Janet
> >>>>
> >>>> [Brief follow up]:
> >>>>
> >>>>   ...And to add one note: I know that other operations also use
> >>>> the word branch, like libraries and the YMCA, so would love if
> >>>> anyone can either comment on: 1) Why banks are called branches
> >>>> 2) Why any organization with a headquarters and separate locations
> >>>>   call those non-headquarter locations branches.
> >>>>
> >>>> Best,
> >>>>
> >>>> Janet
> >>>>
> >>>>
> >>>> ------------------------------------------------------------
> >>>> The American Dialect Society -http://www.americandialect.org
> >>> ------------------------------------------------------------
> >>> The American Dialect Society -http://www.americandialect.org
> >>>
> >> ------------------------------------------------------------
> >> The American Dialect Society -http://www.americandialect.org
> >
>
> --
> James Eric Lawson
>
> ------------------------------------------------------------
> The American Dialect Society - http://www.americandialect.org

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The American Dialect Society - http://www.americandialect.org