Practical Information Concerning the Public Debt of the United States: With the National Banking Laws

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W.H.& O.H. Morrison, 1873 - Banking law - 208 pages

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Page 36 - ... lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
Page 119 - Loans (Sec. 5200). —The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 123 - 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 108 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 120 - The taking, receiving, reserving, or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 119 - Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its dealings.
Page 137 - And in cases of such violation, every director who participated in or assented to the same shall be held liable in his personal and individual capacity, for all damages which the association, its shareholders, or any other person, shall have sustained in consequence of such violation.
Page 123 - No national banking association shall at any time be indebted, or in any way liable, to an amount exceeding the amount of its capital stock at such time actually paid in and remaining undiminished by losses or otherwise, except on account of demands of the nature following: "First.
Page 116 - And the same shall be received at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except duties on imports; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
Page 152 - An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof...

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