A Graded Banking System Formed by the Incorporation of Clearing Houses Under Federal Law: With Power to Issue a Clearing House Currency Secured by Pledge of Bank Assets : for the Protection and Support of Commercial Credit, and the Equalization of Rates of Interest Throughout the NationHoughton, Mifflin, 1898 - 238 pages |
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Common terms and phrases
25 per cent amount asso associated banks bank currency bank member bank notes Bank of England Bank of France bank reserves bankers banking law banks in reserve banks of issue bill bonds Bryan business community capital cash reserves central reserve circulating notes clearing house association clearing house certificates clearing house currency coin commercial assets Comptroller confidence Congress country banks credit system demand obligations deposit reserves depositors directors EDWARD ATKINSON failures fixed currency free banking funds gold guarantee house of issue Hoyt Sherman incorporating clearing houses incorporation of clearing interest issue of currency lawful money legal tenders liquidation McKinley ment method National Banking Act national banking system note-holder notes issued organization certificate organized paper currency payment percentage pledge principle produce protect receive redeem redemption rency republican reserve cities secured currency special charters stability system of banking tion trustee United York
Popular passages
Page 136 - That in all elections of directors, and in deciding all questions at meetings of shareholders, each shareholder shall be entitled to one vote on each share of stock held by him. Shareholders may vote by proxies duly authorized in writing; but no officer, clerk, teller, or book-keeper of such association shall act as proxy; and no shareholder whose liability is past due and unpaid shall be allowed to vote.
Page 132 - ... shall transact no business except such as may be incidental to its organization and necessarily preliminary, until authorized by the comptroller of the currency to commence the business of banking.
Page 147 - Act, or shall pass, utter, or publish, or attempt to pass, utter, or publish, any false, forged, or counterfeited...
Page 108 - It has done more, a thousand times, to enrich nations, than all the mines of all the world.
Page 146 - ... false entry in any book, report or statement of the association, with intent in either case to injure or defraud the association or any other company, body politic or corporate, or any individual person, or to deceive any officer of the association, or any agent appointed...
Page 136 - That if, upon a careful examination of the facts so reported, and of any other facts which may come to the knowledge of the comptroller, whether by means of a special commission appointed by him for the purpose of inquiring into the condition of such association, or otherwise...
Page 147 - ... or shall pass, utter, or publish, or attempt to pass, utter, or publish, as true, any falsely altered or spurious circulating note issued, or purporting to have be...
Page 148 - States; or who has in his control, custody, or possession any metallic plate engraved after the similitude of any plate from which any such...
Page 145 - Such as shall be necessary for its immediate accommodation in the transaction of its business. Second. Such as shall be mortgaged to it in good faith by way of security for debts previously contracted. Third. 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 133 - Sixth. To prescribe, by its board of directors, by-laws not inconsistent with law, regulating the manner in which its stock shall be transferred, its directors elected or appointed, its officers appointed, its property transferred, its general business conducted, and the privileges granted to it by law exercised and enjoyed.