Federal Reserve Bulletin Volume 6, Nos. 7-12

Federal Reserve Bulletin Volume 6, Nos. 7-12

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1920 edition. Excerpt: ...or without hard labor for a terra not exceeding six months: or, to both these modes of punishment. Banking Reform in South Africa. The following extract from the Monthly Review of the Standard Bank of South Africa (Ltd.), published at Cape Town, July 31, 1920, furnishes information with regard to the establishment of a reserve bank in that colony. ESTABLISHMENT OF A CENTRAL RESERVE BANK. There shall be established at Pretoria a corporate body to be called "The South African Reserve Bank." The bank shall be managed by a board of 11 directors, the Governor General to appoint the first directors, of whom three experienced in banking and finance shall be nominated by stock-holding banks, and three who at the time of their elections must be actively engaged in commerce, agriculture, or some other industrial pursuit, shall be elected by stockholders other than banks, and three Government representatives appointed by the Governor General, and two to be styled the governor and the deputy governor sliall also be appointed by the Governor General. Except in the case of the governor and deputy governor, any person qualified as above may, with the consent of the board, be appointed alternate"-to any director. All directors must be British subjects and reside in the Union. The governor and deputy governor, who shall be persons of tested banking experience and have no interest in any other bank, shall hold office for five years, and shall devote their whole time to the business of the bank, and shall be paid such salaries, allowances, and expenses as the board may determine. No person shall be appointed a director or alternate director of the bank (unless he is a banking representative), or shall be appointed a member of a local committee, if he...show more

Product details

  • Paperback | 354 pages
  • 189 x 246 x 19mm | 630g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236501411
  • 9781236501417