106 THE immigration problem 
THE TERM IMMIGRANT BANK A MISNOMER 
As a matter of fact the term immigrant bank is a 
misnomer. The immigrant communities which have 
affixt themselves during recent years to our industrial 
towns and cities have many needs which can be satis 
fied only by a person or company familiar with the 
languages spoken, and with the customs, habits, and 
manner of thought of the people. There is money to 
be sent to the old country; friends and relatives are 
to be communicated with and brought to the United 
States, and business affairs must be transacted in this 
country and in the native land. To meet these needs 
the institution popularly known as the immigrant 
bank has come into existence. In many respects the 
immigrant bank is practically a bureau of information 
and a clearing house for necessary services to the 
immigrant population, and it thrives upon the igno 
rance and lack of assimilation of the immigrant peo 
ple. Its banking functions, however, while limited, 
involve a large amount of money and affect the wel 
fare of a great number of people. 
The branches of business and employments carried 
on by the banks in addition to their usual banking 
functions are real estate, rental, insurance, and col 
lecting agencies, notarial offices, labor agencies, postal 
substations, book, jewelry and foreign novelty stores, 
saloons, groceries, butchers, barbers, boarding bosses 
or room renters, printers, pool-room keepers, furniture 
dealers, and undertakers. 
The Origin of Immigrant Banks 
The connection between banking and other branches 
of business may be easily explained. In the mind of 
the immigrant, the steamship agent is the sole con