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The Federal Reserve ACT: A Discussion of the Principles and Operations of ...
Clarence Walker Barron
No preview available - 2015
The Federal Reserve Act: A Discussion of the Principles and Operations of ...
C. W. Barron
No preview available - 2014
additional circulation amended amount bank act bank reserves bankers bills of exchange Board of Directors capital and surplus capital stock cash reserve central reserve cities centum per annum certificates Chicago circulating notes Class commercial paper Comptroller country banks demand dollars Federal banks Federal Board Federal Reserve Act Federal Reserve Agent Federal reserve bank Federal Reserve Board Federal reserve district Federal reserve notes fifty-one hundred five gold coin gold reserve Group held hereby individual deposits industry investment Kansas City lawful money liability loans and discounts Louis member bank miles millions national bank act national banking association national currency association notes issued officer one-half organization committee payment production purchase re-discount reduced regional reserve banks regulations reserve city banks reserve requirements Secretary securities square miles territory thereof tion Treasury trust companies United States notes vaults Wall Street Washington York
Page 182 - 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 220 - The taking, receiving, reserving or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 10 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 220 - The total liabilities to any association, of any person, or of any company, corporation, or firm for money borrowed, including in the liabilities of a company or firm the liabilities of the several members thereof, shall at no time exceed onetenth part of the amount of the capital stock of such association actually paid in.
Page 185 - 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 221 - But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed.
Page 216 - In order to furnish suitable notes for circulation, the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury, cause plates and dies to be engraved, in the best manner to guard against counterfeiting and fraudulent alterations, and shall have printed therefrom, and numbered, such quantity of circulating notes in blank, of the denominations of one dollar, two dollars, three dollars, five dollars, ten dollars, twenty dollars, fifty dollars, one hundred dollars, five...
Page 222 - It is unlawful for any national bank, or any corporation organized by authority of any law of Congress, to make a contribution or expenditure in connection with any election to any political office...
Page 167 - State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics, or in any other fiduciary capacity in which State banks, trust companies, or other corporations which come into competition with national banks are permitted to act under the laws of the State...