 | Albert Sidney Bolles - Banks and banking - 1884 - 356 pages
...Virginia 43, Wisconsin 38, Nebraska and Minnesota each 32. Other States had a much smaller number. The Government imposed a tax of ten per cent, on the circulation of the State banks, which took effect on the first of July, 1866, under an amendment to the law creating the National banking... | |
 | John Innes Clark Hare - Constitutional law - 1888 - 764 pages
...agreeably to the case of Veazie v. Fenno,3 Congress might not only create national banks, but lay an impost of ten per cent on the circulation of the State banks, which operated as a penalty, and was intended to drive them from the field.4 To this extent 1 See Hamilton's... | |
 | Louis Lafayette Williams - Bookkeeping - 1890 - 294 pages
...the office of the clerk of the county in which the bank is to be located. 41 Previous to July, 1866, State banks issued notes which circulated as money,...allow of any profit to the banks on it. "Except as to issuing circulating notes, State banks are conducted as they were before the creation of the National... | |
 | Burke Aaron Hinsdale - United States - 1891 - 500 pages
...forty different statutes.' In December, 1861, the banks all suspended specie payments. In 1806 Congress imposed a tax of ten per cent, on the circulation of the Stato bank*; and, as the banks could not pay this tax from the profits of their circulation they were... | |
 | Louis Lafayette Williams - Bookkeeping - 1896 - 300 pages
...government imposed a tax of ten per cent, on the circulation of the State banks, which had the effec! of withdrawing it as the rate was too high to allow of any profit to the banks on it. " Except as to issuing circulating notes, State banks are conducted as they were before the creation of the National... | |
 | George W. Schwartz - Accounting - 1898 - 264 pages
...in the office of the clerk of the county in which the bank is to be located. Previous to July, 1866, State banks issued notes which circulated as money,...allow of any profit to the banks on it. Except as to issuing circulating notes, State banks are conducted as they were before the creation of the National... | |
 | E. Virgil Neal, John Henry Moore - Banks and banking - 1904 - 118 pages
...clerk of the county in which the bank is to be located. Circulating Notes. Previous to July 1, 1866, state banks issued notes which circulated as money, but on that date the government imposed a tax of 10% on the circulation of all state banks, which had the effect of withdrawing the circulation, as... | |
 | Business - 1905 - 168 pages
...much the same as those in organizing national banks. Circulating Notes. — Prior to July 1, 1866, state banks issued notes which circulated as money, but on that date the government imposed a tax of 10 per cent on the circulation of all state banks, which had the effect of withdrawing the circulation,... | |
 | Edward Channing - United States - 1905 - 690 pages
...country. At first the response to this offer was not encouraging, but in March, 1864, Congress laid a tax of ten per cent on the circulation of the state banks, and they at once complied with the provisions of the act of 1863 and became national banks. 342. Increased... | |
 | Louis Lafayette Williams - Bookkeeping - 1895 - 284 pages
...the office of the clerk of the county in which the bank is to be located. 41 Previous to July, 1866, State banks issued notes which circulated as money,...allow of any profit to the banks on it. "Except as to issuing circulating notes, State banks are conducted as they were before the creation of the National... | |
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Previous to July, 1866, State banks issued notes which circulated as money, but on that date the government imposed a tax of ten per cent, on the circulation of the State banks, which, had the effect of withdrawing it as the rate was too high to allow... 
