A Few Facts and Suggestions on Money, Trade, and BankingHoughton, Mifflin, 1881 - 105 pages |
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actually amount association average bank deposits bank-bills bank-notes banker bills of exchange borrower business of banking buys capital stock cent circulating notes clearing house coin comptroller corporate titles currency dealing in titles debt deposits in banks directors dollars drafts equivalent ernment erty farmer final balance forms of money gold certificates government bonds government legal tender greenbacks hands individual intrinsic value issued laws of finance legal tender notes loan means ment merchant mortgage National Bank Act national bank notes obligation officers paid paper passed payment penalty person possession profits prohibited promissory demand notes promissory notes prop property in transit provisions rate of interest receives redeem redemption rental reserve sell shareholders specified sub-treasury surplus surrendered taxation taxes thing tion titles to property trade transactions United States bonds United States government United States treasurer violation wage-workers weight and fineness whole
Popular passages
Page 100 - (25.) The national banks are restricted in the rate of interest which they may take, receive, or reserve, to the rate allowed by the laws of the State, Territory, or District in which they are located. (26.) A system of redemption of the circulating notes of the national banks is provided, whereby not only may they be readily converted
Page 99 - (3) bills of exchange or drafts drawn against money actually on deposit to their credit or due to them; and (4) liabilities to their own stockholders for reserved profits. The purpose and effect of these provisions are to make the national banks lenders and not borrowers of money. (24.) They are further forbidden, either directly or indirectly, to pledge or hypothecate any of their
Page 93 - To have succession for twenty years, unless sooner voluntarily dissolved, or their franchise becomes forfeited by some violation of law. Third. To make contracts. Fourth. To sue and be sued,
Page 93 - and be sued, as fully as natural persons. Fifth. To elect or appoint directors, and by the directors to appoint a president, cashier, and other officers, and define their duties.
Page 41 - by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by
Page 42 - on personal security ; by obtaining, issuing, and circulating notes, according to the provisions of this act.
Page 100 - A system of redemption of the circulating notes of the national banks is provided, whereby not only may they be readily converted into lawful money, but the mass of the circulation may be kept clean through the retirement of such portion as becomes worn or mutilated, and the issue of new notes by the comptroller, in their stead. This
Page 103 - person paying the same. II. For certifying any check, unless the person by whom the check is drawn has on deposit with the association an amount of money equal to that represented by the check, the bank may be immediately closed by the appointment of a receiver. III. For every day, after
Page 103 - addition to the assets of the bank, the individual liability of the shareholders before mentioned, together with the capital paid in, no part of which can be returned to the shareholders until all approved claims against the association shall have been paid.
Page 102 - a national bank goes into voluntary liquidation, it must, within six months thereafter, deposit in the treasury an amount of lawful money equal to its entire outstanding circulation, which circulation is thereafter redeemed by the treasurer. Thus the