History of Automatic Teller Machines or ATM

An automatic teller machine or ATM allows a bank customer to conduct their banking transactions from almost every other ATM machine in the world. As is often the case with inventions, many inventors contribute to the history of an invention, as is the case with the ATM. Keep reading to learn about the many inventors behind the automatic teller machine or ATM. Hole in the Wall Luther Simjian came up with the idea of creating a hole-in-the-wall machine that would allow customers to make financial transactions. In 1939, Luther Simjian applied for 20 patents related to his ATM invention and field tested his ATM machine in what is now Citicorp. After six months, the bank reported that there was little demand for the new invention and discontinued its use. Modern Prototypes Some experts have the opinion that James Goodfellow of Scotland holds the earliest patent date of 1966 for a modern ATM, and John D White (also of Docutel) in the US is often credited with inventing the first free-standing ATM design. In 1967, John Shepherd-Barron invented and installed an ATM in a Barclays Bank in London. Don Wetzel invented an American made ATM in 1968. However, it wasnt until the mid to late 1980s that ATMs became part of mainstream banking. Luther Simjian Luther Simjian is best known for his invention of the Bankmatic automatic teller machine or ATM. Born in Turkey on January 28, 1905, he studied medicine at school but had a life-long passion for photography. Simjians first big commercial invention was a self-posing and self-focusing portrait camera. The subject was able to look a mirror and see what the camera was seeing before the picture was taken. Simjian also invented a flight speed indicator for airplanes, an automatic postage metering machine, a colored x-ray machine, and a teleprompter. Combining his knowledge of medicine and photography, he invented a way to project images from microscopes and methods of photographing specimens under water. He moved to New York in 1934 started his own company called Reflectone to further develop his inventions. John  Shepherd Barron According to BBC News, the worlds first ATM was installed in a branch of Barclays in Enfield, North London. John  Shepherd Barron, who worked for the printing firm De La Rue was the chief inventor. In a Barclays press release, the bank stated that comedy actor Reg Varney, star of TV sitcom On the Buses, became the first person in the country to use a cash machine at Barclays Enfield on June  27, 1967. The ATMs were at that time called DACS for De La Rue Automatic Cash System. John  Shepherd Barron  was the managing director of De La Rue Instruments, the company which made the first ATMs. At that time plastic ATM cards did not exist. John Shepherd Barrons ATM machine took checks that were impregnated with carbon 14, a slightly radioactive substance. The ATM machine would detect the carbon 14 mark and match it against a personal identification number (PIN). The idea of a PIN was thought up by John  Shepherd Barron  and refined by his wife Caroline, who changed John’s six-digit number to four as it was easier to remember. John  Shepherd Barron  never patented his ATM invention instead he decided to try to keep his technology a trade secret. John  Shepherd Barron  stated that after consulting with Barclays lawyers, we were advised that applying for a patent would have involved disclosing the coding system, which in turn would have enabled criminals to work the code out. In 1967, a bankers conference was held in Miami with 2,000 members in attendance. John  Shepherd Barron  had just installed the first ATMs in  England and was invited to talk at the conference. As a result, the first American order for a John  Shepherd Barron  ATM was placed. Six ATMs were installed at the First Pennsylvania Bank in Philadelphia.   Don Wetzel Don Wetzel was the co-patentee and chief conceptualist of an automated teller machine, an idea he said he thought of while waiting in line at a Dallas bank. At the time (1968) Don Wetzel was the Vice President of Product Planning at Docutel, the company that developed automated baggage-handling equipment. The other two inventors listed on the Don Wetzel patent were Tom Barnes, the chief mechanical  engineer  and George Chastain, the electrical engineer. It took five million dollars to develop the ATM. The concept first began in 1968,  a working prototype  came about in 1969 and Docutel  was issued  a patent in 1973. The first Don Wetzel ATM was installed in a New  York-based  Chemical Bank. Note: There are different claims to which bank had the first Don Wetzel ATM, I have used Don Wetzels own reference. Don Wetzel on the first ATM installed at the Rockville Center, New York Chemical Bank from  a NMAH  interview: No, it wasnt in a lobby, it was actually in the wall of the bank, out on the street. They put a canopy over it to protect it from the rain and the weather of all sorts.  Unfortunately, they put the canopy too high and the rain came under it. One time we had water in the machine and we had to do some extensive repairs. It was a walkup on the outside of the bank. That was the first one. And it was a cash dispenser only, not a full ATM... We had a cash dispenser, and then the next version was going to be the total teller (created in 1971), which is the ATM we all know today -- takes deposits, transfers money from checking to savings, savings to checking, cash advances to your  credit card, takes payments; things like that. So they didnt want just a cash dispenser alone. ATM Cards The first ATMs were  off-line  machines, meaning money was not automatically withdrawn from an account, as bank accounts were not then connected by a computer network to the ATM. Banks were at first very exclusive about who they gave ATM privileges to. Giving them only to  credit card  holders with good banking records. Don Wetzel, Tom  Barnes, and George Chastain developed the first ATM cards to have a magnetic strip and a personal ID number to get cash. ATM cards had to be different from  credit cards  (then without magnetic strips) so account information could be included.

.Describe the Social, Economic and Cultural Factors That...

1.describe the social, economic and cultural factors that will impact on the lives of children and young people (unit 7) There are many social, economic and cultural factors that will impact on the lives of the children and young people that we may work with. Personal choice – Some families decide that they do not wish to live or act in away in which is viewed as outside the social norm , for example such as being travellers or a child having same genders parents. The outcome of this factor is that there are people which may not be able to relate to the child or young persons families views. If a Child is from a travelling family there is a possibility that their development at school may be delayed due to being transferred†¦show more content†¦Offending or anti-social behaviour - Some families that display offending or challenging anti social behaviour families may end up with their children being taken into care. Health status - A child with poor health may have to have the support that they receive at home and whilst in education adjusted to meet the needs of them. Parents that rely on their children to be Child carers may suffer if their children become ill. Disability - if there is a parent or a child in the family that has a disability, this could affect the family especially if the child is used as a carer for their parents. In some cases respite care may be needed for families with family members that are disabled and this can cause family disruptions and inconsistency in a young persons care especially if the respite care is for overnight visits away from home. Health support - whilst a child or family member is receiving support for a health issue this could possibly affect continuity of care, education, development and income. Addictions – Children that live with adults that are addicts may be relied upon by the adults at times to be their main carers. At times these young people may feel isolated and unable to tell people what they are experiencing at home, they may experience stressful situations and may be living in the poverty thatShow MoreRelatedThe Effects Of Violent Music On The Youth Culture1316 Words   |  6 Pagestowards African American men, women, and children. The articles also provides information that will support the reason how Hip-hop has such an impact on the youth culture, how Hip-hop is valued, and how the music and its lyrics are interpreted. Changing Images of Violence Rap music lyrics: 1979-1997 Hip- hop has both a negative and positive impact on African American lives. Over the past three decades, Hip-hop has arisen as a cultural and artistic aspect, influencing youthRead MoreLevel 3 Diploma998 Words   |  4 PagesUnit 030 Outcome 1: . 1.1. 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Greatest Good for the Greatest Number Free Essays

Michael Sandel lectures on justice throughout two episodes. Episode 1 Part one â€Å"The Moral Side of the Murder† has three cases that demonstrate how to recognize moral selflessness and cope with consequences. These cases also show us how they move us to act and the opportunities that exist from those actions. We will write a custom essay sample on Greatest Good for the Greatest Number or any similar topic only for you Order Now The moral rightness of these cases can maximize consequentiality moral reasoning and can also locate morality in certain duties and rights which is categorical reasoning. In the first case driving the trolley and killing one worker rather than five is not considered an act of murder according to students from Sandels discussions. The majority expressed consequentialist moral reasoning. As an onlooker on a bridge looking at the trolley, some students would not push a fat man over the bridge to save the five workers, they said that the act would be committing murder; therefore the consequences are complex and categorical. When asked about a surgeon removing five organs from one healthy individual to save the lives of five other individuals, the majority of the students did not agree to be morally correct. In this example the greatest number was compromised because of moral reasoning. Episode 1 Part two, â€Å"The Case for Cannibalism† is a real life story that asks the question if the four survivors of the Mignonette ship were morally justified. Brooks, Dudley, Stevens and Parker had been on a life boat for 19 days. Parker’s decision to drink the salt water put him in a vulnerable position that ended his life by cannibalism to save the rest. By day twenty-four, Brooks, Dudley and Stevens were rescued and arrested. The majority of the students agreed to try them while the minority asked the question to what degree of necessity would exonerate them. It was discussed if the three survivors would benefit the community or be a danger to society for being cannibalistic. The key point by Sandel and the students was that adding consent would make a difference in the trial. Kantian ethics was preferred instead of Bentham’s utilitarianism theory. Jeremy Bentham and John Stuart Mill have different proposals on utilitarianism. â€Å"Jeremy Bentham identified good consequences with pleasure, which is measured in terms of intensity, duration, certainty, propinquity, fecundity, purity, and extent. John Stuart Mill argued that pleasures differ in quality as well as quantity and that the highest good involves the highest quality as well as quantity of pleasure. † There is no agreement on which theories count as consequentiality under this definition therefore skepticism will always exist. 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The choices of living in a farm in Kansas, pulling off a front tooth, cutting off a toe and eating a worm all had a value. The majority favored as the highest pleasure to live in a farm in Kansas. Episode 2 Part Two â€Å"How to Measure Pleasure† discusses the levels of pleasure. The examples of choosing the highest pleasure between Shakespeare, Simpsons or Fear Factor were based on culture and education. Students reasoned that Shakespeare voted the highest because this is presented throughout the school years. But if given a choice between Shakespeare, seasons of the Simpsons as the only pleasure for life, majority ruled I favor of Shakespeare for intellect purposes. The Simpsons for entertaining purposes were voted second and Fear Factor last. To test the highest pleasure, people would have to experience all to pick the very best. John Stuart Mill said that utility is the only standard of morality therefore you must experience both pleasures. The similarities between Episode 1 and 2, was that categorical moral reasoning was preferred. Circumstances dictated those whom decided that the greatest good was for the greatest number. In contrast, more utilitarian and consequential moral reasoning emphasis was found in Episode 1 than in episode 2. The moral of the story that philosopher Bentham suggested was that â€Å"Here in life and in death is a man who adhered to the principals of his philosophy. † References http://www. questia. com/read/1E1-utilitar/utilitarianism http://onbiostatistics. blogspot. com/2010/02/cost-benefit-analysis-put-dollar-value. html How to cite Greatest Good for the Greatest Number, Essay examples

Death Penalty Essay Example For Students

Death Penalty Essay During this class period today, seven adult men will be falsely accused ofcommitting a serious crime, carrying a penalty of capital punishment. This meansapproximately 51,000 adult men are falsely accused of committing serious crimeseach year. This figure is roughly the number of people who attended SuperBowl-Thirty-Three. Currently, there are 3,500 people on death row inthirty-eight states that support and carry out the death penalty while onlytwelve states have outlawed it. At the same time, more than half the countriesin the world have abolished the death penalty in law or practice. Capitalpunishment is very relevant to each member of society. It is not just a maleonly issue. Every single one of us in this room has a father, brother, orsignificant others who could be affected. Capital punishment in America ismorally unjust and should be eliminated because it is cruel and unusual; itkills innocent people; and it is used in a discriminatory manner. Sometimescriminals suffer more dur ing their executions than is anticipated or planned. Though there isnt much evidence that proves the death penalty deters crime, there is plenty of evidence and studies that prove it does not. The latest FBI Uniform Crime Report shows that in 2000, the national murder rate decreased 3.1 % from 1999, with the smallest decline in the South. The South remains the region with the highest murder rate, 6.8 victims per 100,000, compared to 5.1 in the West and Midwest, and 4.0 in the Northeast. Since the death penalty was reinstated, over 80% of all executions have occurred in the South, the region with the highest murder rate. The Northeast, the region with the lowest murder rate, has accounted for less than 1% of the executions. A survey done by the New York Times also found that states without the death penalty have lower homicide rates than states with the death penalty. The Times report states that ten of the twelve states without the death penalty have homicide rates below the national average, whereas half of the states with the death p enalty have homicide rates above (New York Times, 2/19/00). During the last 20 years, the homicide rate in states with the death penalty has been 48%-101% higher than in states without the death penalty. There are many more studies that show where the death penalty exists, there is a higher murder rate. According to statistics from the latest FBI Uniform Crime Report, regions of the country that use the death penalty the least are the safest for police officers. Police are most in danger in the South, which accounts for 80% of all executions (90% in 2000). From 1989-1998, 292 law enforcement officers were feloniously killed in the South, 125 in the West, 121 in the Midwest, and 80 in the Northeast, the region with the fewest executions. The three leading states where law enforcement officers were feloniously killed in 1998 were California, the state with the highest population; Texas, the state with the most executions since 1976; and Florida, the state that is third highest in exec utions and in death row population. Finally, in comparing the rate of death by handguns in eight industrialized countries, the United States stands out with a rate of death by handguns that is much higher than the rate of other countries. The other seven countries are Switzerland, Sweden, Canada, Germany, Australia, New Zealand, and Britain. The United States is also the only country of the eight to retain use of the death penalty. In most foreign countries, gun control laws are more restrictive and gun owners are assigned more responsibility. According to Robert Mauro (a professor at the University of Oregon) it all comes down to one thing, and that is brutality. Many sources supported his idea when he says we are encouraging more murder by executing criminals. By killing a criminal we are stooping to their level. We are solving a problem by killing it. We are resorting to greater amounts of violence with our system. Mauro says it all in once sentence: So, as they say, an eye for an eye policy will leave us all blind. The fact still remainsWords/ Pages : 651 / 24