A History of Banking in the United StatesB. Rhodes & Company, 1900 - 880 pages |
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Common terms and phrases
act of June aggregate amendment amount appointed association authorized Baltimore Bank of North banking capital banking law bill capital stock certificates charter circulating notes clearing-house coin committee Comptroller Congress corporation debt deposit lawful depositors deposits directors dividends failure favor February 25 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 outstanding paid paper money passed Pennsylvania Philadelphia premium President profits real estate received redeemed redemption repeal reserve resumption retire Savings banks Secretary Senate Sherman silver six per cent specie payments stockholders Suffolk Bank surplus suspension taxation tion Treasury notes United States bonds United States notes United States Treasurer vote withdraw York city
Popular passages
Page 164 - act of January 14, 1875, required the Secretary of the Treasury on and after January 1, 1879, to redeem in coin the United States legaltender notes then outstanding on their presentation for redemption at the office of the Assistant Treasurer of the United States in the city of New York,
Page 82 - UNITED STATES. The order for the removal of the public deposits from the Bank of the United States was dated September 26, 1833. After this date the money collected from customs and other sources of revenue was no longer paid into the Federal bank, but was deposited with selected State banks called "pet banks
Page 276 - the revision of the committee : " The rate established by the laws of the States or Territories where the bank is located and no more, and when no rate is fixed by the laws of the State or Territory, the bank may take, receive, reserve, or charge, a rate not exceeding seven
Page 799 - shall provide for the organization of all other corporations, except with banking privileges, the creation of which is prohibited "; and also, "The General Assembly shall prohibit by law any person or persons, association, company or corporation from exercising the privilege of banking, or creating paper to circulate as money.
Page 38 - the proposition to issue United States notes'; and on this subject he says : "The emitting of paper money by the authority of Government is wisely prohibited to the individual States by the national Constitution; and the spirit of that prohibition ought not to be disregarded by the Government of the
Page 268 - county or municipal purposes, but not at a greater rate than is assessed upon other moneyed capital In the hands of individual citizens of each State, and all the
Page 75 - and, like other skillful executioners, do it quickly, and when you have perpetrated It go home to the people and tell them what glorious honors you have achieved for your common country. Tell them that henceforward, no matter what daring or outrageous act any President may perform, you have hermetically sealed the mouth of the Senate. Tell
Page 268 - shares of 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 all taxes imposed by or under State authority for
Page 303 - without interest. This measure was entitled "An Act to authorize the issue of United States notes and for the redemption and funding thereof, and for funding the floating debt of the United States.
Page 241 - an absolutely perfect one, but it is supposed that it will afford to the people a better bank-note circulation than any heretofore devised. The President, in his message of December 8, 1863, says: "The enactment by Congress of a National banking law has proved a valuable support to the public credit