World's Congress of Bankers and Financiers: Comprising Addresses Upon Selected Financial Subjects: And Also a Series of Papers on Banking in the Several States and Territories, Prepared by Delegates Specially Appointed by the Governors |
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Page 45
... circulation to which each of these banks was entitled under the act was to be arrived at by taking the average amount of circu- lation in each case for twelve weeks prior to 1844. The amount for all these banks was by this method found ...
... circulation to which each of these banks was entitled under the act was to be arrived at by taking the average amount of circu- lation in each case for twelve weeks prior to 1844. The amount for all these banks was by this method found ...
Page 46
... circulation privilege to the Bank of England for a consideration of one per cent per annum ( this indicates what circulation was thought to be worth to the banks ) up to August 1 , 1856 , and the privilege was forfeited by these banks ...
... circulation privilege to the Bank of England for a consideration of one per cent per annum ( this indicates what circulation was thought to be worth to the banks ) up to August 1 , 1856 , and the privilege was forfeited by these banks ...
Page 47
... circulation , secured only by their general assets , and not , like the permanent circulation of the Bank of England , by Government debt specially deposited ; but , like the Bank of England and unlike the joint - stock and private ...
... circulation , secured only by their general assets , and not , like the permanent circulation of the Bank of England , by Government debt specially deposited ; but , like the Bank of England and unlike the joint - stock and private ...
Page 49
... circulation as long as the bank redeems its notes in specie on demand , but if specie payments are suspended and the Government permits the issue of inconvertible notes , a limit to such issues 4 BANKERS AND FINANCIERS . 49.
... circulation as long as the bank redeems its notes in specie on demand , but if specie payments are suspended and the Government permits the issue of inconvertible notes , a limit to such issues 4 BANKERS AND FINANCIERS . 49.
Page 52
... circulation , was modeled on the English Bank Act of 1844. A fixed , permanent amount of circula- tion was assigned to each of these outside banks ; besides this , they may issue notes secured marc for marc by gold coin , and further ...
... circulation , was modeled on the English Bank Act of 1844. A fixed , permanent amount of circula- tion was assigned to each of these outside banks ; besides this , they may issue notes secured marc for marc by gold coin , and further ...
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Common terms and phrases
amount association bank notes Bank of England bankers banking law banking system bill bimetallism bonds borrower bullion capital stock cent certificates charter commercial Comptroller of Finance Congress corporation currency debt demand demonetization depositors deposits directors discount exchange fifty five France free coinage fund gold and silver gold or silver gold standard Government hundred Illinois increase institutions issue Kentucky labor land Latin Union legal tender legislation Legislature liability loans ment metal million dollars Missouri monetary national banking act national banks one-half paid paper money passed payment Pennsylvania population present profits prosperity purchase rate of interest ratio real estate redeem reserve Shawneetown silver coin silver dollar silver standard specie square miles stockholders surplus thousand dollars tion to-day Treasury twenty United United States Mint United States Treasury wealth
Popular passages
Page 240 - No association shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith...
Page 235 - That associations for carrying on the business of banking may be formed by any number of persons, not less in any case than five, who shall enter into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with the provisions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs...
Page 244 - ... in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 241 - That all associations under this act, when designated for that purpose by the Secretary of the Treasury, shall be depositaries of public money, except receipts from customs, under such regulations as may be prescribed by the Secretary ; and they may also be employed as financial agents of the government; and they shall perform all such reasonable duties, as depositaries of public moneys and financial agents of the government, as may be required of them.
Page 442 - Every stockholder in a banking corporation or institution shall be individually responsible and liable to its creditors, over and above the amount of stock by him or her held, to an amount equal to his or her respective shares so held, for all its liabilities accruing while he or she remains such stockholder.
Page 237 - Title, and that he is the owner in good faith, and in his own right, of the number of shares of stock required by this...
Page 243 - Such violation shall, however, be determined and adjudged by a proper circuit, district or territorial court of the United States, in a suit brought for that purpose by the Comptroller of the Currency, in his own name, before the association shall be declared dissolved.
Page 240 - If losses have at any time been sustained by any such association equal to or exceeding its undivided profits then on hand, no dividend shall be made ; and no dividend shall ever be made by any association while it continues its banking operations, to an amount greater than its net profits then on hand, deducting therefrom its losses and bad debts.
Page 239 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings. Fourth. Such as it shall purchase at sales under judgments, decrees or mortgages held by the association, or shall purchase to secure debts due to it.
Page 380 - ... shall, for all purposes whatever as regards the presenting for payment or acceptance, and of the protesting and giving notice of the dishonor of" bills of exchange, bank checks and promissory notes, made after the passage of this act, be treated and considered as the first day of the week, commonly called Sunday...