By the end of the 18th century in Europe, there was a total of 3 different types of banks. These banks helped business and the economy by making loans to the members of the stock exchange, helped the business, traders, and manufactures, introduced international trade, and even caused a war. These banks from that time period led to the emergence of the modern banking system as it is now in 2017. The Bank Of England issued the very first bank notes in history. The banks would give letters for Goldsmiths to show they were men of good character and integrity and this how the first checks came to be. This helped the banks provide and move more capital to international markets.