Chapters on the Theory and History of Banking

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G. P. Putnam's Sons, 1891 - Banks and banking - 199 pages
 

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Page 136 - The Secretary of the Treasury shall require the associations thus designated to give satisfactory security, by the deposit of United States bonds and otherwise, for the safe-keeping and prompt payment of the public money deposited with them, and for the faithful performance of their duties as financial agents of the Government...
Page 147 - ... to make good such reserve ; and if such association shall fail for thirty days thereafter so to make good its reserve of lawful money of the United States...
Page 135 - Associations may be organized in the manner prescribed by this Title for the purpose of issuing notes payable in gold; and upon the deposit of any United States bonds bearing interest payable in gold with the Treasurer of the United States, in the manner prescribed for other associations, it shall be lawful for...
Page 158 - ... any body politic or corporate whatsoever, erected or to be erected, or for any other persons whatsoever united or to be united in covenants or partnership exceeding the number of six persons, in that part of Great Britain called England, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand or at any less time than six months from the borrowing thereof...
Page 155 - AN ACT FOR GRANTING TO THEIR MAJESTIES SEVERAL RATES AND DUTIES UPON TONNAGE OF SHIPS AND VESSELS, AND UPON BEER, ALE AND OTHER LIQUORS, FOR SECURING CERTAIN RECOMPENSES AND ADVANTAGES IN THE SAID ACT MENTIONED TO SUCH PERSONS AS SHALL VOLUNTARILY ADVANCE THE SUM OF FIFTEEN HUNDRED THOUSAND POUNDS TOWARDS THE CARRYING ON THE WAR AGAINST FRANCE (5 & 6 Gul.
Page 9 - The borrower who procures a loan from a bank does so in order to provide himself with the means, either of making some purchase, or of paying some debt. He seeks, therefore, to obtain, not necessarily money, but a certain amount of purchasing...
Page 18 - every person, firm, or company having a place of business where credits are opened by the deposit or collection of money or currency, subject to be paid or remitted upon draft, check, or order...
Page 9 - A BANK may be described, in general terms, as an establishment which makes to individuals such advances of money or other means of payment as may be required and safely made, and to which individuals entrust money or other means of payment, when not required by them for use.
Page 18 - Every incorporated or other bank, and every person, firm, or company having a place of business where credits are opened by the deposit or collection of money or currency, subject to be paid or remitted upon draft, check, or order, or where money is advanced or loaned on stocks, bonds, bullion, bills of exchange, or promissory notes, or where stocks, bonds, bullion, bills of exchange, or promissory notes are received for discount or for sale, shall be regarded as a bank or as a banker.
Page 31 - In fact, the question as to the proper amount of reserve never depends simply on the absolute ratio of the reserve to the liabilities, but always involves further questions as to the probable receipts of cash by the bank and probable demands upon it, in the near future. It can only be said that the reserve should be large enough, not only to insure the immediate payment of any probable demand from depositors, but also to secure the bank from being brought down to the "danger line

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