Organized BankingH. Holt, 1918 - 385 pages |
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Common terms and phrases
amount balances bank credit bank notes Bank of England Bank of France bank's bankers banking system banks of issue bills of exchange bonds borrower bullion capital and surplus capital stock central banks centralized reserves centum certificates chapter circulation claims clearing house collateral creditor currency debits depends depositor deposits directors discount rate district domestic drawn economic eligible expansion Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal Reserve System foreign exchange funds Germany hand Hartley Withers Hence important individual banks investment involved lawful money liabilities limited loans member banks ment national banks National Monetary Commission necessary normal note issue noteholder obtained organization paper payable payment possible production purchase redeemed redemption rediscount regulation Reichsbank reserve cities reserve purposes right to demand shipments simply tion transactions Treasury trust company United wealth
Popular passages
Page 276 - A bill of exchange is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.
Page 352 - That if any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act,, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 364 - To buy and sell, at home or abroad, bonds and notes of the United States, and bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding six months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts...
Page 311 - ... 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 330 - Upon the indorsement of any of its member banks, which shall be deemed a waiver of demand, notice and protest by such bank as to its own indorsement exclusively, any Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions...
Page 368 - To grant by special permit to national banks applying therefor, when not in contravention of State or local law...
Page 360 - Any member bank may accept drafts or bills of exchange drawn upon it and growing out of transactions involving the importation or exportation of goods having not more than six months...
Page 332 - 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 346 - Any bank officer, director, or employee violating this provision shall be deemed guilty of a misdemeanor and shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given.
Page 329 - Any Federal reserve bank may receive from any of its member banks, and from the United States, deposits of current funds in lawful money, national-bank notes, Federal reserve notes, or checks, and drafts, payable upon presentation, and also, for collection, maturing notes and bills...