A History of Banking in the United States |
From inside the book
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Page xvii
... fund system of chartered banks - Free banking law -Comparison of systems -- Why the safety fund was not a complete suc- cess - Issue of notes on State securities - Imperfect methods of redemp- tion - Revision and consolidation of the ...
... fund system of chartered banks - Free banking law -Comparison of systems -- Why the safety fund was not a complete suc- cess - Issue of notes on State securities - Imperfect methods of redemp- tion - Revision and consolidation of the ...
Page 85
... funds in the pos- session of the Treasury , except those in the banks of the West and Southwest . Inasmuch as the public creditors would not receive drafts on these discredited banks in payment of the debt of the Government to them ...
... funds in the pos- session of the Treasury , except those in the banks of the West and Southwest . Inasmuch as the public creditors would not receive drafts on these discredited banks in payment of the debt of the Government to them ...
Page 129
... fund shall equal one - fifth of the capital stock . Three uses for profits are thus pointed out : first , to keep the capital unimpaired by meeting losses and bad debts ; second , to build up a surplus fund , and third to declare ...
... fund shall equal one - fifth of the capital stock . Three uses for profits are thus pointed out : first , to keep the capital unimpaired by meeting losses and bad debts ; second , to build up a surplus fund , and third to declare ...
Page 134
... funds amounting to $ 130,000,000 . The circulation of specie outside of the banks may , perhaps , be placed at ... fund the Treasury notes . The expression , seven - thirty , applied to the num . Treasury notes , referred to the ...
... funds amounting to $ 130,000,000 . The circulation of specie outside of the banks may , perhaps , be placed at ... fund the Treasury notes . The expression , seven - thirty , applied to the num . Treasury notes , referred to the ...
Page 137
... fund them into bonds at par . So the right to fund legal - tender notes into twenty - year bonds quietly lapsed , although the fact of its existence was the principal ar- gument in favor of agreeing to the legal - tender enactment in ...
... fund them into bonds at par . So the right to fund legal - tender notes into twenty - year bonds quietly lapsed , although the fact of its existence was the principal ar- gument in favor of agreeing to the legal - tender enactment in ...
Contents
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Other editions - View all
Common terms and phrases
act of June aggregate amendment amount appointed association authorized Baltimore Bank of England Bank of North banking capital banking law bill branch bank capital stock certificates charter circulating notes clearing-house coin committee Comptroller Congress corporation debt deposit lawful depositors deposits directors dividends failure favor free banking fund gold Government held holders Hugh McCulloch hundred increase institutions interest January July July 12 June 20 lawful money legal-tender notes Legislature liability ment National Bank Act National bank circulation National bank notes National banking system national currency number of banks operation organized outstanding paid paper money passed Pennsylvania Philadelphia premium President profits received redeemed redemption repeal reserve resumption retire Savings banks Secretary Senate Sherman silver six per cent specie payments stockholders surplus suspension taxation tion Treasury notes United States bonds United States notes United States Treasurer vote withdraw York city
Popular passages
Page 52 - The absence of the precious metals will, it is believed, be a temporary evil; but, until they can again be rendered the general medium of exchange, it devolves on the wisdom of congress, to provide a substitute, which shall equally engage the confidence, and accommodate the wants, of the citizens throughout the Union. If the operation of the State banks cannot produce this result, the probable operation of a National Bank will merit consideration...
Page 264 - Provided, That nothing in this act shall be construed to prevent all the shares in any of the said associations, held by any person or body corporate, from being included in the valuation of the personal property of such person or corporation in the assessment of taxes imposed by or under State authority at the place where such bank is located, and not elsewhere...
Page 496 - An act to impose a tax on all banks, or branches thereof, in the State of Maryland, not chartered by the legislature...
Page 73 - An act to repeal the State tax on real and personal property, and to continue and extend the improvements of the State by railroads and canals, and to charter a State bank, to be called the United States Bank.
Page 732 - Provided, that no such grant or law shall have any force or effect until the same shall have been submitted to a vote of the electors of the State, at some general election, and been approved by a majority of the votes cast on that subject at such election.
Page 153 - And when any of said notes may be redeemed or be received into the Treasury under any law from any source whatever, and shall belong to the United States, they shall not be retired, cancelled, or destroyed, but they shall be reissued and paid out again and kept in circulation: Prowilted.
Page 292 - An Act to define and fix the standard of value, to maintain the parity of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes...
Page 80 - The deposits of the money of the United States in places in which the said bank and branches thereof may be established shall be made in said bank or branches thereof unless the Secretary of the Treasury shall at any time otherwise order and direct, in which case the Secretary of the Treasury shall immediately lay before Congress, if in session, and, if not, immediately after the commencement of the next session, the reasons of such order or direction.
Page 36 - But one may be erected in relation to the collection of taxes, or to the trade with foreign countries, or to the trade between the States, or with the Indian tribes; because it is the province of the Federal Government...
Page 153 - That four months from and after the passage of this act, it shall not be lawful for the owner or...