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- Very early on in our planning, we knew that it would be very important for us to have a speaker here among us who could inform us with some authority what it was like to be a banker during these various centuries of our tale, because, surely, to be a Piero de' Medici was different from being a Robert Lehman, and it is for that reason that we've turned to Richard Sylla to help us gain that firmer footing on that aspect of our topic. Richard Sylla is the Henry Kaufman Professor of the History of Financial Institutions and Markets and professor of economics at the Stern School of Business of New York University. He is also a research associate of the National Bureau of Economic Research. Professor Sylla received his B.A., M.A., and PhD degrees from Harvard University, and his research focus is on the financial history of the United States in comparative contexts. He is a former editor of the Journal of Economic History and has served as chairman of the board of the Trustees of the Cliometric Society, I hope I'm saying that right, and Association of Quantitative Historians. You can tell I'm a little out of my depth here. As president of the Economic History Association, the professorial organization of economic historians in the United States, and as president of the Business History Conference, the leading professional association of business historians, which also presented him with its lifetime achievement award. Richard is a fellow of the American Academy of Arts and Sciences, and currently serves as the chairman of the Board of Trustees of the Museum of American Finance, a Smithsonian affiliate located in Wall Street, here in New York. He is the author of "The American Capital Market, "Eighteen-Forty Six to Nineteen Fourteen," and co-author of "The Evolution of the American Economy," published in 1993, and "A History of Interest Rates," that might interest us, (chuckles), that was, that is in its fourth edition in 2005. He's the co-editor of "Patterns of European "Industrialization in the 19th Century: "The State, The Financial System, and Economic "Modernization," and of "Founding Choices: American Economic Policy "in the 1790s," as well as numerous essays, articles, and reviews in business, economic, and financial history magazines. This afternoon, Richard will give us this historical perspective that I, for one, badly need on what it was like to be a banker at various moments in history, in his presentation, "The Art of Banking Since the Medici." Please join me in welcoming Richard Sylla. (audience applauds) - A good banker should always have a supply of liquidity nearby. (audience laughs) And that's true of a professor as well. Inga, thank you for those kind remarks. And, I want to thank the Frick for inviting me to be here today. I'll just plunge right in, I have a Power Point presentation that doesn't have a lot of artwork in it. It's got a couple of securities in it, but not much artwork. Because, you're going to get so much of that in the symposium that I'm going to stay away from it. So, first slide. I want to say the banks, for centuries, have played a key role in economic development. Of course, I teach at the Stern School. I try to point out that the countries that had the most developed banks and really the most developed financial systems, early on, were the ones that were successful in modern history. The northern Italian city states are an example, and what I noted here was that, these city states of northern Italy, about five, six, seven hundred years ago, developed modern banking, innovated it, and they also innovated double-entry bookkeeping. "Banco" as some of you may know, is the Italian word for "bench" or a small table, and the, the new sort of businessman in history appeared in those northern Italian city states in the Middle Ages. He would come with his little table, or bench, and he would open up his account books on there, and on one side, he would take deposits from people, pay them some interest rate. On the other side, he would make loans to other people, charge them a somewhat higher interest rate and live on the spread, and since the most obvious thing that this new businessman had to identify him was the little table or bench, the banco, he got to be known as a banchiere, and the word spread to Germany and England, banquier in French, and so on, and so that's some of the early history of banking. By the time we take it up, I think the Italian city states were the richest economies in the world. They'd had banks for a couple of centuries, the Medici Bank was by no means the first bank in the 15th century, and those, we have some data, rough data I'm sure, but they indicate that northern Italy was the richest economy in the world, around 1500 or so, and of course, we know that that banker well sponsored art. Examples? We've heard about both of my examples here today, the Medici Bank was a bank that lasted not quite 100 years from 1397 to 1494, and the other example, which was just mentioned by David, the Monte dei Paschi of Siena, which was, you know, it's not the oldest bank in the world, it's the oldest bank in the world that still exists. It may not exist much longer, so we'll have to maybe be looking for another bank that's the oldest bank in the world that still exists, pretty soon, because as David said, it's gotten into a bit of mischief lately. But, 1472, it's well over 500 years old. Now, the Italians were the innovators. Banking spread from Italy, the Dutch Republic, even earlier in the low countries when they were colonies of Spain, or the Holy Roman Empire, the Dutch Republic adopted and improved on some of the Italian financial innovations around 1600. They developed something of a central bank called the Bank of Amsterdam which was founded in 1609. The Amsterdam Beurs or Stock Exchange was founded around the same time and the Dutch were beginning to cook. It was also in 1609 that the Dutch sent an English sea captain named Henry Hudson to explore, and he came into New York Harbor, and so you see three big events of 1609, the Bank of Amsterdam, the Amsterdam Beurs and the Dutch East India Company hiring Henry Hudson to come to explore New York, what we know now as New York Harbor, and then the 1620s, another Dutch company, the Dutch West India Company actually put a settlement on Governors Island and later on lower Manhattan, so this is early in the 17th century, and, some decades later, the Dutch have their Golden Age, or what the historian Simon Schama has called the Embarrassment of Riches, and we know that the Dutch masters flourished in the middle part of the 17th century, but the banking came first, so the point I want to make as a financial historian is that, you know, we're talking about how bankers make money, but bankers do all kinds of good to develop, develop economies. After the Dutch, the English had their glorious revolution, roughly a century later, 1688. And England adapted and improved upon the Dutch financial innovations. The Bank of England was more of a modern bank than the Bank of Amsterdam was. It was founded in 1694. England then went on, with these financial innovations that involved things like the government bond market and stock market as well as the Bank of England and London Bankers, England went on, sometime, some decades later, in the middle of the 18th century, to have the Industrial Revolution and an empire around the world, and, some of the bankers who were in on the financing of that, as we'll see, became art collectors. Now, we, quickly to the United States, Americans, after Independence, were, picked up the banking habit pretty quickly and I think the key person here, a person who I spent a lot of my time studying is Alexander Hamilton who we don't give enough credit for his contributions to our country. This is a quote from Hamilton. In 1781, when there was not any bank in the United States, there had never been a real, modern bank in the United States. In 1781, Alexander Hamilton was a lieutenant colonel in the Continental Army, he was only about 24, 25 years old, and, he was the right-hand man of George Washington, as his aide-de-camp, but he writes in a letter to Robert Morris, at the time, Morris had become appointed the financier of the Superintendent of Finance, they called him, of the United States, this was after the continental currency that they issued basically became valueless, and Morris was brought in to try to bring some sense of stability to very unstable finances, so Hamilton, always giving other people advice, writes him a letter. And in that letter he says, the tendency, remember, this is a time when there has not been a bank in the United States. "The tendency of a national bank is to increase "public and private credit. "The former gives power to the state, "and the latter facilitates and extends the operations "of commerce among individuals." Hamilton was interested in building a strong government, and he was interested in building a strong economy, and he thinks that banks are the key to that. The private credit "industry is increased, "commodities are multiplied, "agriculture and manufacturers flourish, "and herein consists the true wealth and prosperity "of a state." And then this next paragraph has what I think is one of my great Hamilton favorite quotes. "Most commercial nations have found it necessary "to institute banks, and they have proved to be "the happiest engines that ever were invented "for advancing trade, "Venice, Genoa, Hamburg, Holland, "and England are examples of their utility." I teach financial history. Alexander Hamilton obviously knew his financial history more than most people at that time. About a decade after Hamilton wrote this, he was put in the position of being our first treasury secretary and he modernized U.S. finances in just a few years. This is the biggest and most important story in American history that you probably never heard much about, but Hamilton's financial modernization, the U.S. went on to become the, the most successful emerging market of the last couple of centuries. And, the Americans not only latched on to banking, well, actually due to Hamilton's innovations, but they pushed it to great lengths, and this is from the 1830s. A chap named Roger B. Taney, who's the secretary of the treasury in the 1830s, some decades later, he's the Chief Justice of the Supreme Court, and issued the Dred Scott Decision which was not his most useful thing, but in the 1830s, as Andrew Jackson's treasury secretary, Taney says, "There is perhaps no business "which yields a profit so certain and liberal "as the business of banking and exchange, "and it is proper that it should be open as far as "practicable to most free competition "and its advantages shared by all classes of society." This was kind of something new. Everybody should have the right to be a banker, anybody can be a banker. At the time, the U.S. didn't have zero banks, like it did when Hamilton wrote, it had about four or five hundred banks, and then I go on to point out here, by the early 20th century, 1913, the U.S. had tens of thousands of banks and roughly 40% of the entire world's bank deposits. Like the Italians, the Dutch, and the Brits before them, the Americans parlayed their banking into economic leadership and great wealth. All right, now here comes the business school lecture. The, I said in the very beginning that northern Italy pioneered in banking, but they also pioneered in double-entry bookkeeping. I just read a book lately, it's kind of interesting because right outside the door, there's this wonderful Piero della Francesca exhibit, and he was from a town in Italy called Borgo San Sepolcro. Another person from that town was Luca Pacioli who overlapped with Piero. Pacioli actually, in his famous book of 1494, called him Pietro di Francesci, and Piero, the artist whose work is featured outside, was quite a mathematician, and wrote books about mathematics and the perspective of art, you know, I mean his mathematics was directed toward improving art, and some people think that Pacioli learned a lot of math from the painter, Piero, and he certainly thanked him in his book, but Pacioli's famous chapter sort of codified double-entry bookkeeping which was another northern Italian innovation, and, double-entry bookkeeping and a bank balance sheet might look something like this, so here's the, you're all M.B.A.s now. (audience laughs) A balance sheet of a bank has its assets and liabilities. You start in the lower right there, say some investors in the bank invest some capital in the bank, I'll call it 200 here, it doesn't matter what the money units are, and they open up the bank to take deposits and pretty soon, people come in and deposit 800 with them, and you get a total of 1,000 and for the sum of the liabilities, and the net worth, the capital is the net worth of the bank. How are those assets deployed? Well, over on the other side, you see they're going to have cash reserves of 100. That's because some of those depositers are going to come in sometime and ask for cash, and take money out of the bank, but of course other people will be bringing money to the bank so you don't have to have cash reserves equal to the total of deposits, and in fact, here I've got, what? 800 of deposits and only 100 of cash reserves, but the real fun in banking comes from making loans and making investments and I've given you some examples. This bank is going to make 700 of loans and 200 of investments, and you add that to the cash reserves and you have 1,000. The books have to balance in double-entry bookkeeping. Now, I've just made some assumptions about the interest rate earned by the bank on these lones. It's going to be 8% and on the investments, it's going to be 6%. They're going to pay 2% to the depositers for the use of their money. Remember, I said that the first banker, with his bench by the Rialto Bridge in Venice, opened up his books and he paid money for deposits and also made loans and charged a higher rate, well, that's what I'm showing here. If you assume those interest rates and the amounts of assets, you see you're going to earn 56 a year on your loans, you're going to earn 12 a year on your deposits, that gives you a gross income of 68. On the other side, you have to pay out 16, and you're paying 2% on the deposits, so that's going to give you gross earnings less costs of 52, but then there's some fixed costs to a bank. I'm just calling them 20 here, and then you end up, in the lower left, with a profit of 32, and when you relate that to the capital invested in the bank you see the return on capital is 32 over 200, or 16%, and this is the magic and the mystery of banking. You know, you lend money at 8% or you invest in investments at 6%, but somehow or other in the end, you earn 16% on your own capital. And that's, that's what so fascinates people about banking. That's why so many, when Roger Taney said every American ought to be a banker, a lot of him took him up on the idea. All right. Well, that's, this is a pretty good bank, you know, 16% return on capital. But there's some temptations involved here. How, you know, if you want to think about it, how could you make more money in banking? What would be a good way to make more money? Well, one way, that we say, you have all that capital there, but if you can get by with less capital, then you might, you know, using the leverage of deposits, you might make a higher return. Another thing is, you might, you know, want to say, well, those cash reserves, they're not earning that much for us, maybe earning nothing. We should take some of those hundred of cash reserves and put them into investments, so I'm going to come up with another bank here. Basically, it's the same sort of story, but this bank is now going to have not 800 of deposits but 900, and that means it's going to reduce its capital to 100 total assets, or total liabilities are still 1,000. It's going to have the same earnings of, say, 8% on loans and 6% on investments, but now, you're going to run down the cash reserves from 100 to 50, and you're going to increase your loans and investments, loans are now going to go to 850, what were they before? 700. And the investments are going to go, well, I got them reduced here, so it doesn't matter that much, but, anyway, now this bank, you know, this is a bank that's skating a little bit on thin ice. Because it doesn't have so much capital. If somehow the loans and investments shrink in value, the capital is, you know, gonna be wiped out sooner when it's 100 than it would have been if the capital were 200. So anyway, this bank now is going to earn 68 from lending. It's going to earn six on its hundred of investments, so now the gross earnings, and it's still gonna pay 2% on the now larger deposits of 900. That's 18. If you, 68 and 6 is 74, minus 18 is gonna be 56, and it still has the fixed cost of 20, so now, by running down the capital and running down the cash reserves, the profit of the bank is 36, but that relates now to a capital which is only 100, not 200, and suddenly, this bank is making a 36% return, even greater magic than we saw before, but it's in a much riskier situation because, as I mentioned, if the loans and investments lose some value, they only have to lose 100 of value, and the bank is wiped out because its capital is only 100. Or, the bank is more vulnerable to a run now because it only has 50 of the cash reserves against 900 of deposits, instead of 100 of cash reserves against 800 of deposits. Okay. That's your lesson in how to be a banker. Be a safe banker. And how to be a risky banker, and, the quiz comes in 20 minutes. (audience chuckles) All right, what are the implications of this now? The, to boost the returns on their own capital, banks are tempted to have less capital invested and to hold smaller reserves, but as I just said, that increases the risk of default for the reasons I give here. By the way, the leverage of my first bank was 5:1, sort of assets divided by capital. The second bank, the leverage is 10:1, assets divided by capital, and it's because bankers have these temptations to reduce their capital in order to magnify their returns, and to hold the small reserves. This is the reason we regulate banks in the modern world. And we do that, we have deposit insurance, bank regulation, may tell, you know, we have Basel rules being formed, you know, all the banks of the world, they're supposed to have some rules on how much capital they would have. In the United States, we have deposit insurance, we have a Central Bank to protect depositors, because if a perfectly good bank doesn't have enough reserves, it can borrow some from the Federal Reserve, which is a bankers' bank. But most of the bankers we're talking about were back in a time when we didn't have these modern innovations, and so how did the bankers last and prosper and get the money to invest in art? Well, I think they were more like the first bank I showed you, they were prudent. They did not take great chances. And, they were more like my first bank. The second banks were more likely to fail, so these prudent, prudent bankers could prosper over the long run and make a lot of money which they might invest in art. Now, I think most of the bank, I called the previous bank a commercial bank. Most of the bankers we're talking about here are what we call investment banks, or in Britain they would call them merchant banks, and, the balance sheets, I didn't put numbers here, but, on the liabilities side, instead of having just deposits, I'm calling it funding, and these banks would get their funding maybe from deposits, but they might sell CDs, they might sell commercial paper, they might get loans from other banks, they might even underwrite some insurance, the Rothschilds did that, and that insurance is a way of, you know, 'cause you pay your premiums now and hope your car doesn't crash or your house doesn't burn down, but when you pay that premium, somebody's got the money and, then they can use that money. Why does Warren Buffett own insurance companies? Because they generate a lot of cash for him and he can invest it. He's a smart investor and he likes to own insurance companies because they bring in a lot of cash for him to invest. On the asset side, it's not just a matter of loans to business now or investments, but you have government securities, private securities, bills of exchange, which I have to explain a bill of exchange. You all know what a check is. You write a check. A bill of exchange is just like a check that's not payable right away, but it's payable three months from now or six months from now. It becomes a credit instrument. Wouldn't it be nice if we could all write checks to people but they wouldn't be collected for six months? Well, this is where the bankers came in, from the Medici right down to the present banks, issue these bills, businesses issue bills of exchange, banks buy them, they discount them, earn interest on them, charge fees for them, sometimes they guarantee them. If there's a guarantee of a bill of exchange, sometimes it's called the bankers' acceptance, where the bank says, you know, "We guarantee that this will be paid." There's a fee for that. Our bankers may deal in commodities, that's why they're called merchant bankers. They may have investments like the Medici Bank did in some manufacturing of cloth and mining and the Rothschilds had investments in insurance companies, and of course, they have to have some cash reserves too. Now, the profits of a bank like this are going to come from the interest they earn, from dividends, from trading, from fees for accepting bills, insurance premiums in excess of the claims paid, and so on. A merchant bank does a wide variety of businesses. All right. It's still pretty much like the first bank except it has slightly different ways of funding itself and a wider range of assets that it may hold. Our banker/collectors. Most followed the investment or merchant banking model but some of them combined investment banking with commercial banking, JP Morgan did that right from the start. Now, most of our bankers are going to be in the last couple of centuries, and they had a great advantage that Medici did not have, the unprecedented industrialization and economic growth of the 19th and 20th centuries created great opportunities for bankers that weren't there so much in the Medici era, but the Medici Bank's business was not so different from what I just showed you. The Medici Bank, 1397 to 1494, had branches in Italy and northwestern Europe. It specialized in financing trade. You know, Italy imported a lot of wool from what would be today's Belgium, or from Britain especially, wove it into fancy cloth in Italy, so that wool had to be bought in places like England and the low countries and shipped to Italy. There were lots of different kinds of money then. We didn't have the big nation states that we have today so there were lots of places where there were different kinds of money. And the nice thing about that business for the Medici was, you know, the Catholic church had a ban on usury. You weren't supposed to take any interest. The Medici made a lot of money by disguising the interest as some sort of exchange fee, you know, when you had a lot of different moneys and I think it was complex enough so the Pope didn't understand it, and they didn't get in any trouble. They also lent money, it was, you know, to the secular and religious princes. They had some of the accounts, they had a branch in Rome and the Catholic Church had a lot of money in the Medici Bank, so they lent to a religious prince like the Pope but they also lent money to secular princes. They traded in commodities, and already mentioned, they invested in cloth manufacturing and mines. The bank lasted not quite a century. Its decline resulted from, I think a couple of causes. One was these loans to rulers. That was the risky business, you know, it was mentioned that I wrote a book, co-authored a book called "The History of Interest Rates," and what these early bankers found out is that businessmen were much more trustworthy than princes and kings. (audience laughs) That's the truth. I mean, that's really important. They would charge low rates to businessmen whom they trusted, but when they lent money to the princes and the kings, the princes and kings often defaulted on their debts and that got the Medici Bank into trouble. They also, you know, were operating a branch system across Europe. It's not so easy to manage such a thing and so the rulers didn't pay back loans and then sometimes the managers, the branch managers up in Belgium or London of the Medici Bank would sort of steal from the bank or not make the, they would make loans to a prince when the Medici said, "Don't do that. "That's dangerous." So they couldn't really be on top of things in that bank, and finally, as was mentioned by David I think, the later generations of leaders, after Cosmo, Cosmo was the second one, Giovani was the fathered star of the bank, then there was Piero the third generation and Lorenzo the fourth generation, well Lorenzo for example, he became much more interested in art and politics than in banking. So, by neglecting the banking, he got himself into trouble and the bank disappeared. He didn't mind the store, you might say, he didn't mind the store. He probably wasn't the first banker in history to do that, but, now, so we skip those three centuries now, we're coming up to the modern era where there's a lot more going on, a lot more opportunity for bankers, and you come to the Hopes and the Barings. I'm just lumping them together here because they worked together. These were banks that were both, you know, there might have been earlier versions of it, but Hopes and Barings were organized around 1762. At our Museum of American Finance, that was mentioned, I'm the chairman of the board. We have an exhibit right now on the 250th anniversary of the Barings Bank, so if you're interested in learning a little more about them you could come down there. In fact, one of the reasons I came here today was that, you know, this is an art museum and the bankers are giving a lot of money to art museums. I have a finance museum and the bankers don't seem to want to give us enough money. (audience laughs) You know, it's much more fashionable to invest the money in art or something like it, or opera, and, but I'm trying to tell these tycoons that, as you decide how to distribute your golden eggs, don't forget the goose. (laughs) (audience laughs) The financial system that made it all possible, so the, interestingly enough, showing you how cosmopolitan Europe was, the Hopes were Scots merchants, but they banked in Amsterdam. The Barings came from Germany but they banked in London. Hopes Bank, just to give you a little bit of the history, we mentioned the Monte dei Paschi, Hopes lasted until 1992 and it's now a part of ABN Amro, which is currently owned by the Dutch government because it had to be bailed out. The Barings lasted from 1762 to 1795 when a trader in Singapore named Nick Leeson broke the bank, in other words, he made bets that turned into, you know, losses that wiped out the capital of Barings and so the proud Barings Bank in 1995 was bought by ING, a Dutch bank, for the princely sum of one British pound, and assuming a lot of liabilities. But in their heyday, in the late 18th and 19th centuries, the two banks worked together on deals of which perhaps the most famous, at least on this side of the Atlantic, was the financing of the Louisiana Purchase. Here is a picture, at long last. (audience chuckles) But it's not the kind of picture that you would see, this actually does hang in the Museum of American Finance. I trust it will never be hanging in the Frick. It is a Louisiana Purchase bond, and it's a $200 bond. It says, "Louisiana 6% stock." "Treasury of the United States." "December 24th, 1803." And you might be able to read it a little bit, but I'll say it, "Be it known that there is due from "the United States of America "unto Hope and Company of Amsterdam Merchants "and Francis Baring and Company of London Merchants," see, they were not even referred to as bankers then, they were merchant bankers, but they liked to be termed merchants, so, Barings and the Hopes were going to take these things or their assignees the sum of $200 bearing interest at 6% per annum from the 20th day of December 1803, inclusively payable in Amsterdam, semiannually, this on the first days of July and January, and at the rate of $2, 2 gilders and 1/2 of a gilder, current money of Holland per dollar. That means a gilder was about 40 cents. Being stock created by virtue of an act entitled, an act authorized in the creation of a stock, to the amount of $11,250,000, for the purpose of carrying into effect the convention of the 30th of April, 1803, between the United States of America and the French Republic, and making provision for the payment of the same past this 10th day of November, 1803, the principal of which is payable at the Treasury of the United States by annual installments of not less than 1/4 part each, the first of which will commence 15 years after the 21st day of October, 1803. And so on and so on, signed Joseph Nourse, Register of the U.S. Treasury. This is a Louisiana Purchase bond. In late 1803, one of the Baring boys, Alexander I think it was, took a whole bunch of these with him, from the United States to Europe and then they sold them to investors, mostly in the Netherlands, and in Great Britain and got money which they paid to Napoleon to make war (chuckles) on the Netherlands and Britain. (audience laughs) This is why I love financial history. You know, across the ocean, America doubles in size, Napoleon has a lot of British and Dutch money to make war on the British and the Dutch and the rest of the people in Europe, and, so that's, you know, and of course I think the French did not, Albert Gallatin once winked and said, "The French did not quite get that "$11 1/4 million because the bankers took off "some for their charges." Well, one of the clever things that these bankers did, showing my next slide, this is one that I won't read to you because I am not very good in Dutch, but Henry Hope who's mentioned there, you see, Henry Hope, Hope and Company, anyway, is mentioned, what Henry Hope did a clever thing. He, having gotten those American securities paying 6%, he resold them and this is a Dutch security for the same thing, Louisiana stock, but he's selling them so the investor only gets 5 1/2%. (audience chuckles) And so, you know, this is another way the bankers made money. Now, you see, interest rates were sort of high in America 'cause we're growing rapidly and we don't have enough capital, but the Dutch are filthy rich, and so they think 5 1/2% is a good deal, or Hope tells them it is, and so they buy that, but that means Henry hope is gonna get this 1/2% now. If it was all $11 1/4, 1/2% would be something like $50,000 a year that Henry Hope would get for not taking much risk at all, as long as the United States paid, he'd get $50,000 a year, every year for the 15 years these bonds were outstanding, $50,000 in that particular period was worth about $1 million a year, so just by reforming the security and selling it to Dutchmen in a language they could read (audience laughs) he could, he was able to get, right, the million dollars a year the bankers were willing, to get the million dollars a year, for basically taking that much--

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  • Best ROI. Our customers achieve an average 7x ROI within the first six months.
  • Scales with your use cases. From SMBs to mid-market, airSlate SignNow delivers results for businesses of all sizes.
  • Intuitive UI and API. Sign and send documents from your apps in minutes.

A smarter way to work: —how to industry sign banking integrate

Make your signing experience more convenient and hassle-free. Boost your workflow with a smart eSignature solution.

How to sign and complete a document online How to sign and complete a document online

How to sign and complete a document online

Document management isn't an easy task. The only thing that makes working with documents simple in today's world, is a comprehensive workflow solution. Signing and editing documents, and filling out forms is a simple task for those who utilize eSignature services. Businesses that have found reliable solutions to help me with industry sign banking louisiana presentation free don't need to spend their valuable time and effort on routine and monotonous actions.

Use airSlate SignNow and help me with industry sign banking louisiana presentation free online hassle-free today:

  1. Create your airSlate SignNow profile or use your Google account to sign up.
  2. Upload a document.
  3. Work on it; sign it, edit it and add fillable fields to it.
  4. Select Done and export the sample: send it or save it to your device.

As you can see, there is nothing complicated about filling out and signing documents when you have the right tool. Our advanced editor is great for getting forms and contracts exactly how you want/need them. It has a user-friendly interface and total comprehensibility, offering you complete control. Sign up today and start enhancing your digital signature workflows with highly effective tools to help me with industry sign banking louisiana presentation free on-line.

How to sign and complete forms in Google Chrome How to sign and complete forms in Google Chrome

How to sign and complete forms in Google Chrome

Google Chrome can solve more problems than you can even imagine using powerful tools called 'extensions'. There are thousands you can easily add right to your browser called ‘add-ons’ and each has a unique ability to enhance your workflow. For example, help me with industry sign banking louisiana presentation free and edit docs with airSlate SignNow.

To add the airSlate SignNow extension for Google Chrome, follow the next steps:

  1. Go to Chrome Web Store, type in 'airSlate SignNow' and press enter. Then, hit the Add to Chrome button and wait a few seconds while it installs.
  2. Find a document that you need to sign, right click it and select airSlate SignNow.
  3. Edit and sign your document.
  4. Save your new file to your profile, the cloud or your device.

By using this extension, you eliminate wasting time and effort on boring activities like saving the data file and importing it to an electronic signature solution’s library. Everything is easily accessible, so you can easily and conveniently help me with industry sign banking louisiana presentation free.

How to eSign documents in Gmail How to eSign documents in Gmail

How to eSign documents in Gmail

Gmail is probably the most popular mail service utilized by millions of people all across the world. Most likely, you and your clients also use it for personal and business communication. However, the question on a lot of people’s minds is: how can I help me with industry sign banking louisiana presentation free a document that was emailed to me in Gmail? Something amazing has happened that is changing the way business is done. airSlate SignNow and Google have created an impactful add on that lets you help me with industry sign banking louisiana presentation free, edit, set signing orders and much more without leaving your inbox.

Boost your workflow with a revolutionary Gmail add on from airSlate SignNow:

  1. Find the airSlate SignNow extension for Gmail from the Chrome Web Store and install it.
  2. Go to your inbox and open the email that contains the attachment that needs signing.
  3. Click the airSlate SignNow icon found in the right-hand toolbar.
  4. Work on your document; edit it, add fillable fields and even sign it yourself.
  5. Click Done and email the executed document to the respective parties.

With helpful extensions, manipulations to help me with industry sign banking louisiana presentation free various forms are easy. The less time you spend switching browser windows, opening many accounts and scrolling through your internal data files trying to find a template is more time and energy to you for other crucial jobs.

How to safely sign documents using a mobile browser How to safely sign documents using a mobile browser

How to safely sign documents using a mobile browser

Are you one of the business professionals who’ve decided to go 100% mobile in 2020? If yes, then you really need to make sure you have an effective solution for managing your document workflows from your phone, e.g., help me with industry sign banking louisiana presentation free, and edit forms in real time. airSlate SignNow has one of the most exciting tools for mobile users. A web-based application. help me with industry sign banking louisiana presentation free instantly from anywhere.

How to securely sign documents in a mobile browser

  1. Create an airSlate SignNow profile or log in using any web browser on your smartphone or tablet.
  2. Upload a document from the cloud or internal storage.
  3. Fill out and sign the sample.
  4. Tap Done.
  5. Do anything you need right from your account.

airSlate SignNow takes pride in protecting customer data. Be confident that anything you upload to your profile is secured with industry-leading encryption. Automatic logging out will protect your account from unwanted access. help me with industry sign banking louisiana presentation free from the phone or your friend’s phone. Security is crucial to our success and yours to mobile workflows.

How to electronically sign a PDF document with an iPhone How to electronically sign a PDF document with an iPhone

How to electronically sign a PDF document with an iPhone

The iPhone and iPad are powerful gadgets that allow you to work not only from the office but from anywhere in the world. For example, you can finalize and sign documents or help me with industry sign banking louisiana presentation free directly on your phone or tablet at the office, at home or even on the beach. iOS offers native features like the Markup tool, though it’s limiting and doesn’t have any automation. Though the airSlate SignNow application for Apple is packed with everything you need for upgrading your document workflow. help me with industry sign banking louisiana presentation free, fill out and sign forms on your phone in minutes.

How to sign a PDF on an iPhone

  1. Go to the AppStore, find the airSlate SignNow app and download it.
  2. Open the application, log in or create a profile.
  3. Select + to upload a document from your device or import it from the cloud.
  4. Fill out the sample and create your electronic signature.
  5. Click Done to finish the editing and signing session.

When you have this application installed, you don't need to upload a file each time you get it for signing. Just open the document on your iPhone, click the Share icon and select the Sign with airSlate SignNow option. Your sample will be opened in the mobile app. help me with industry sign banking louisiana presentation free anything. Plus, utilizing one service for all of your document management requirements, things are faster, smoother and cheaper Download the application right now!

How to eSign a PDF on an Android How to eSign a PDF on an Android

How to eSign a PDF on an Android

What’s the number one rule for handling document workflows in 2020? Avoid paper chaos. Get rid of the printers, scanners and bundlers curriers. All of it! Take a new approach and manage, help me with industry sign banking louisiana presentation free, and organize your records 100% paperless and 100% mobile. You only need three things; a phone/tablet, internet connection and the airSlate SignNow app for Android. Using the app, create, help me with industry sign banking louisiana presentation free and execute documents right from your smartphone or tablet.

How to sign a PDF on an Android

  1. In the Google Play Market, search for and install the airSlate SignNow application.
  2. Open the program and log into your account or make one if you don’t have one already.
  3. Upload a document from the cloud or your device.
  4. Click on the opened document and start working on it. Edit it, add fillable fields and signature fields.
  5. Once you’ve finished, click Done and send the document to the other parties involved or download it to the cloud or your device.

airSlate SignNow allows you to sign documents and manage tasks like help me with industry sign banking louisiana presentation free with ease. In addition, the safety of your info is priority. File encryption and private servers can be used as implementing the latest capabilities in data compliance measures. Get the airSlate SignNow mobile experience and work more proficiently.

Trusted esignature solution— what our customers are saying

Explore how the airSlate SignNow eSignature platform helps businesses succeed. Hear from real users and what they like most about electronic signing.

It's been a seamless process each time we are in a rush
5
Executive Sponsor in Internet

What do you like best?

We like the ease of customizing fields and the ability to efficiently leverage templates.

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Insurance Agency
5
Administrator in Insurance

What do you like best?

Love that we are able to send our insured's applications to sign electronically! It makes it so much easier to obtain signatures electronically rather than through the mail.

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very dependable. I have used airSlate SignNow from locations all around the world. It's neve...
5
Administrator in Education Management

What do you like best?

Storage capacity and ability to use folders. Also the feature to add other signers.

Read full review
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Frequently asked questions

Learn everything you need to know to use airSlate SignNow eSignatures like a pro.

How do i add an electronic signature to a word document?

When a client enters information (such as a password) into the online form on , the information is encrypted so the client cannot see it. An authorized representative for the client, called a "Doe Representative," must enter the information into the "Signature" field to complete the signature.

How to sign a document on pdf viewer?

You can choose to do a copy/paste or a "quick read" and the "smart cut" option. Copy/Paste Copy: Select your document and press ctrl and a letter to copy it. Now select all the letter you want to copy and press CTRL and v to copy it and select the letter you want to cut ( b). This will show you a dialog with 2 options. You can then choose "copy and paste", if you want to cut from 1 letter and paste the other. If you want to cut from the second letter you'll have to use "smart cut" Smart Cut: Select all the letter you want to cut and press CTRL and v (Shift-v to paste if it's a "copy and paste"). Now the letter you want to cut will be highlighted, select it. Now press the space bar to cut to start cutting. This will show you a dialog with the options "copy and cut". You can choose to copy or cut to start cutting. You must select the cut you want to make with "smart cut" In this version, when cutting to start cutting it will not show the cut icon, unless you are cutting a letter you have already selected. You must select the cut you want to make with "smart cut" In this version, when cutting to start cutting it will not show the cut icon, unless you are cutting a letter you have already selected. Cut with one letter: In this version, you must select the cut you want to make with "smart cut" and it will not show the cut icon.

How to eSign liberty mutual policy?

You have to read the letter, if you want to see why this is a problem.