Money and Banking |
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Page 11
... circulation . The Spanish dollar or " piece of eight , " as it was called , was subdivided into eight reals , valued at 12 cents . These coins , however , were not of uniform value in the different colonies . The eighth part of a dollar ...
... circulation . The Spanish dollar or " piece of eight , " as it was called , was subdivided into eight reals , valued at 12 cents . These coins , however , were not of uniform value in the different colonies . The eighth part of a dollar ...
Page 12
... circulation . When our Constitution was adopted in 1789 Congress was given the right " to coin money and regulate the value thereof . " READING REFERENCES Bullock : Essays on the Monetary History of the United States , Pt . I , Chs . II ...
... circulation . When our Constitution was adopted in 1789 Congress was given the right " to coin money and regulate the value thereof . " READING REFERENCES Bullock : Essays on the Monetary History of the United States , Pt . I , Chs . II ...
Page 13
... circulation , are such media as checks and drafts which represent bank deposits and which are transferred between other than the original parties only by indorse- ment . This group includes also commercial bills of ex- change , domestic ...
... circulation , are such media as checks and drafts which represent bank deposits and which are transferred between other than the original parties only by indorse- ment . This group includes also commercial bills of ex- change , domestic ...
Page 14
... circulation ; our actual medium of exchange comprises a variety of coins , made from dif- ferent metals , several kinds of paper money , and credit 1 Scott : Money , p . 35 ; Laughlin : Principles of Money , p . 14. * 2 Money which ...
... circulation ; our actual medium of exchange comprises a variety of coins , made from dif- ferent metals , several kinds of paper money , and credit 1 Scott : Money , p . 35 ; Laughlin : Principles of Money , p . 14. * 2 Money which ...
Page 18
... circulation just as in the other case gold coins disappear . When the mint ratio and the actual market ratio of the two metals do not agree , and as a consequence one of them is withheld from the mint , it is said to be undervalued ...
... circulation just as in the other case gold coins disappear . When the mint ratio and the actual market ratio of the two metals do not agree , and as a consequence one of them is withheld from the mint , it is said to be undervalued ...
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Common terms and phrases
acceptances amended amount balance bank notes Bank of England bank's bankers banking system bill of lading bills of exchange board of directors borrower broker 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...