Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin
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Home > Art, Film & Photography > Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin
Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin

Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin


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About the Book

This historic book may have numerous typos or missing text. Not indexed. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1895. Not illustrated. Excerpt: ... State Banks--New York State Banks of Deposit, and Banking Law. State Banks.--State Banks are organized under and exist subject to the laws of the State in which they are located, and inasmuch as we are now the proud possessors of forty-four States, even if some have not yet reached the stage of maturity where they can rejoice in a banking law better than all the others, still there are too many State banking laws to admit of even a digest of them here. It is necessary, however, that the salient features of the banking laws of the State of New York, recognized as one of the best, should be given. No attempt will be made to explain the cause of the failure of many of the State banking laws prior to 1862, beyond the fact that, in a majority of cases, they imposed insufficient restrictions in relation to the issue of circulating notes, allowing notes to be issued against railroad bonds, and in some instances against real estate; permitting loans on real estate (which is always considered poor policy for a bank of deposit, as real estate is not readily convertible into cash), imposed no extra liability on directors, and permitted the banks' own stock, to be pledged as security for loans; but most important of all, they provided for no given percentage of coin or bullion, or, at any rate, an insufficient percentage for the redemption of circulating notes. The banks, not being required to keep a certain percentage of gold and silver on hand in the shape go of a redemption fund, did not do so, and when the crisis came there was comparatively little " lawful money " to be had; what little there was at once commanded a large premium, and, owing to the then lack of telegraph and transportation facilities, it was not possible to have London or New York come to the res...


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Product Details
  • ISBN-13: 9781151217790
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 98
  • Spine Width: 5 mm
  • Width: 189 mm
  • ISBN-10: 1151217794
  • Publisher Date: 01 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 191 gr


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Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin
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Principles and Practice of Finance; A Practical Guide for Bankers, Merchants and Lawyers. Together with a Summary of the National and State Banking Laws, and the Legal Rates of Interest, Tables of Foreign Coins, and a Glossary of Commercial and Fin

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