-American express was founded in 1850,in Buffalo,New York
-As a joint stock corporation that was a merger of the express mail companies owned by herny wells,william fargo and john butterfield.
-Sometime b/w 1888 and 1890,J.C.Fargo took a trip to europe and returned frustated.
-Despite the fact he was the president of American express and he carried with him traditional letters of credit ,he found it difficult to obtain cash anywhere except in major cities.
-Fargo went to marcellus fleming berry and asked him to create abeeter solution than the traditional leeter of credit
-In 1891,berry introduced the american express traveler's cheque-a' preprinted ,fixed amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilage ,in denominations of dollars
-As a joint stock corporation that was a merger of the express mail companies owned by herny wells,william fargo and john butterfield.
-Sometime b/w 1888 and 1890,J.C.Fargo took a trip to europe and returned frustated.
-Despite the fact he was the president of American express and he carried with him traditional letters of credit ,he found it difficult to obtain cash anywhere except in major cities.
-Fargo went to marcellus fleming berry and asked him to create abeeter solution than the traditional leeter of credit
-In 1891,berry introduced the american express traveler's cheque-a' preprinted ,fixed amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilage ,in denominations of dollars
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