Money and Banking |
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Page 31
... Treasury Department to purchase not less than $ 2,000,000 worth nor more than $ 4,000,000 worth of silver bullion a month and to coin it into standard silver dollars of 4121 grains , which were again made legal tender . Under the ...
... Treasury Department to purchase not less than $ 2,000,000 worth nor more than $ 4,000,000 worth of silver bullion a month and to coin it into standard silver dollars of 4121 grains , which were again made legal tender . Under the ...
Page 32
... treasury notes of 1890 , and to maintain the silver dollars and silver certificates at a parity with gold . The greenbacks were redeemable in gold at the Treasury , but the law provided for their immediate reissue . The banks were ...
... treasury notes of 1890 , and to maintain the silver dollars and silver certificates at a parity with gold . The greenbacks were redeemable in gold at the Treasury , but the law provided for their immediate reissue . The banks were ...
Page 33
... Treasury of its embarrassment nor provide a remedy for the currency ills . The gold reserve of the Treasury continued to decline until it had reached $ 65 , - 000,000 in January , 1894. President Cleveland tried to get legislation ...
... Treasury of its embarrassment nor provide a remedy for the currency ills . The gold reserve of the Treasury continued to decline until it had reached $ 65 , - 000,000 in January , 1894. President Cleveland tried to get legislation ...
Page 34
... Treasury reserve rose above $ 128,000,000 . Though gold exports continued for some months longer , reducing the reserve to $ 90,000,000 in July , 1896 , the success of the loan did much to restore public confidence , and after the ...
... Treasury reserve rose above $ 128,000,000 . Though gold exports continued for some months longer , reducing the reserve to $ 90,000,000 in July , 1896 , the success of the loan did much to restore public confidence , and after the ...
Page 35
... Treasury . If this fund should at any time fall below $ 100,000,000 , the Secretary of the Treasury is required to restore it to $ 150,000,000 by the sale of bonds . This gold reserve cannot be used to meet a deficit in revenue . To ...
... Treasury . If this fund should at any time fall below $ 100,000,000 , the Secretary of the Treasury is required to restore it to $ 150,000,000 by the sale of bonds . This gold reserve cannot be used to meet a deficit in revenue . To ...
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Common terms and phrases
acceptances amended amount assets balance bank notes Bank of England bank's bankers banking system bill of lading bills of exchange board of directors borrower capital and surplus capital stock cash cent central reserve centum charter checks clearing house coin commercial bank commercial paper Comptroller currency customers demand depositors deposits discount district dollar drafts drawn eral reserve farm loan association Farm Loan Board Federal Farm Loan Federal land bank Federal Reserve Act Federal reserve agent Federal reserve bank Federal Reserve Board Federal reserve notes Federal reserve system funds indorsed investment joint stock land liabilities loan bonds member banks ment mortgage national banks national farm loan note issues organization paid payable payment purchase receive redemption rediscount regulations reserve cities savings banks Secretary sell silver stock land bank stockholders teller tion transactions Treasury trust companies United York
Popular passages
Page 458 - Federal reserve bank may discount notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes...
Page 173 - The shareholders of every national banking association 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 460 - Third. Bills of exchange or drafts drawn against money actually on deposit to the credit of the association, or due thereto. Fourth. Liabilities to the stockholders of the association for dividends and reserve profits.
Page 476 - 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 471 - 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 473 - State thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions.
Page 503 - That if any person shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged or counterfeited, or willingly aid or assist in falsely making, forging, or counterfeiting any note, in imitation of, or purporting to be...
Page 458 - ... 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; or, solely for purposes of exchange or of collection...
Page 450 - Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.
Page 466 - ... discretion of the Secretary for the purposes of this Act, and should the appropriations heretofore made be insufficient to meet the requirements of this Act in addition to circulating notes provided for by existing law, the Secretary is hereby authorized to use so much of any funds in the Treasury not otherwise appropriated for the purpose of furnishing the notes aforesaid: Provided, .however, That nothing in this section contained shall be construed as exempting national banks or Federal reserve...