The Banking change in Europe by increase in number of private banks.
- The private banks increased with the rise of the age of exploration.
- Banking operations made it possible for depositors to pay their debts by issuing written orders to their banks to make transfers to their creditors’ accounts.
- Loans were provided to merchants that led to the rise of trade and commerce.
- Very important to overseas expansion was a new form of the business enterprise known as the joint-stock company, which allowed small investors to buy shares in a venture.
- These companies made possible the accumulation of the large amounts of capital needed for large-scale operations.
Therefore we can conclude that during the 1700s to 1800s private banks increased.
Thus option A is correct answer.
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