Money and Banking |
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Page 2
... tion . Most of the wealth produced is intended to be ex- changed . Our whole economic structure is based upon the exchange of goods and services . This process of exchange involves the economic phenomena of value , price , money , and ...
... tion . Most of the wealth produced is intended to be ex- changed . Our whole economic structure is based upon the exchange of goods and services . This process of exchange involves the economic phenomena of value , price , money , and ...
Page 7
... tion lead as having been used as currency . In this country the Massachusetts settlers used lead bullets for change , at the rate of a farthing each . In the days of the Roman Emperors , series of tin coins were issued , and tin half ...
... tion lead as having been used as currency . In this country the Massachusetts settlers used lead bullets for change , at the rate of a farthing each . In the days of the Roman Emperors , series of tin coins were issued , and tin half ...
Page 14
... tion as a medium of exchange.1 A standard is used to measure value ; a medium of exchange is used to transfer value . It is quite possible , of course , that one kind of money may be used as a medium of exchange while an- other serves ...
... tion as a medium of exchange.1 A standard is used to measure value ; a medium of exchange is used to transfer value . It is quite possible , of course , that one kind of money may be used as a medium of exchange while an- other serves ...
Page 19
... tion ; that gold may be cheapening while silver is enhancing in value , and that these movements in opposite directions tend to keep the two metals from varying greatly from the legal ratio . It is undoubtedly true that the relative ...
... tion ; that gold may be cheapening while silver is enhancing in value , and that these movements in opposite directions tend to keep the two metals from varying greatly from the legal ratio . It is undoubtedly true that the relative ...
Page 23
... tion of the gold exchange standard by countries formerly upon a silver basis has steadied the par of exchange be- tween Oriental and Western countries and has left coun- tries where silver was best adapted to local conditions free to ...
... tion of the gold exchange standard by countries formerly upon a silver basis has steadied the par of exchange be- tween Oriental and Western countries and has left coun- tries where silver was best adapted to local conditions free 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...