The Merchants' Magazine and Commercial Review, Volume 511864 |
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Page 31
... demand , without money in reserve against it , is , in plain Saxon , a lie . The French term account current , " applied to the bank credit , is more honest and more appropriate , although a fiction still so far as it exceeds the money ...
... demand , without money in reserve against it , is , in plain Saxon , a lie . The French term account current , " applied to the bank credit , is more honest and more appropriate , although a fiction still so far as it exceeds the money ...
Page 32
... demand liabilities in excess of their specie reserves precisely the same as if they had answered his checks in bank notes , or in checks on other banks . Nor did it make the slightest difference in the volume of national currency ...
... demand liabilities in excess of their specie reserves precisely the same as if they had answered his checks in bank notes , or in checks on other banks . Nor did it make the slightest difference in the volume of national currency ...
Page 33
... demand liabili- ties , and by insolvency of its own making . Capital may be transferred from one owner to another through debt perfectly well , without money ; but this does not make capital of the debt . Debt may be organized into ...
... demand liabili- ties , and by insolvency of its own making . Capital may be transferred from one owner to another through debt perfectly well , without money ; but this does not make capital of the debt . Debt may be organized into ...
Page 34
... demand , and , therefore , of higher value . 44 It is the difference of international value alone which determines whether money shall be exported or imported . California exports money because it is cheap from an excess of supply ...
... demand , and , therefore , of higher value . 44 It is the difference of international value alone which determines whether money shall be exported or imported . California exports money because it is cheap from an excess of supply ...
Page 35
... demand and price of foreign markets ; and then the price of imports rises still higher to absorb the fictitious currency and price that is no longer employed bp the exportable commodities held above the shipping price . As our exports ...
... demand and price of foreign markets ; and then the price of imports rises still higher to absorb the fictitious currency and price that is no longer employed bp the exportable commodities held above the shipping price . As our exports ...
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Common terms and phrases
50 cents addition thereto amount annual association Bank of England Bank of France bills bonds British America capital cent No tax cent stamp cents per pound cents per square centum ad valorem certificate CHASE circulating notes COMMERCIAL common carrier companies Comptroller Congress cotton currency debt deposits duty England exceed exceeding exports feet fifty cents foreign Fort Abercrombie Fort Garry France Fund further enacted gallon gold hundred imported increase interest iron Island issued July June Kilauea Lake Winnipeg land legal tender less liable license tax loan Lower Canada manufactures ment merchandise miles National Banks organization certificate otherwise provided paid passengers payment person port production provinces receipts received River Secretary ship six per cent specie square yard thereof tion tons Total trade United United States notes usury valuation vessel York
Popular passages
Page 67 - To exercise by its board of directors or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; and by obtaining, issuing, and circulating notes according to the provisions of this title.
Page 75 - ... The taking, receiving, reserving, or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 83 - ... after the commission of an act of insolvency, or in contemplation thereof, made with a view to prevent the application of its assets in the manner prescribed by this chapter, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be utterly null and void...
Page 72 - States, except duties on imports ; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations •within the United States, except interest on the public debt, and in redemption of the national currency.
Page 68 - ... 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 65 - An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof...
Page 75 - ... shall at all times have on hand, in lawful money of the United States, an amount equal to at least fifteen per centum of the aggregate amount of its notes in circulation, and of its deposits.
Page 66 - ... into articles of association, which shall specify in general terms the object for which the association is formed, and may contain any other provisions, not inconsistent with...
Page 80 - ... organization certificate may be executed by a majority of the directors of the bank or banking institution...
Page 81 - States bonds and otherwise, for the safekeeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the government...