Sound Currency; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students

Sound Currency; A Compendium of Accurate and Timely Information on Currency Questions Intended for Writers, Speakers and Students

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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. 1896 edition. Excerpt: ...and conservative banking; the latter part--after the war of 1812--by somewhat more reckless methods and management. The second is the history of the "Safety Fund" system, extending from 1829 to 1866; while the third includes our experience under the " Free Banking" system, from 1838 until all state bank circulation was suppressed by the federal tax of 10% against other than National Bank notes. The first and, to some extent, the early part of the second chapters deal with periods of political interference with, and political management of, banking corporations--when banking was regarded as a proper subject for monopoly, and when the political affiliations of the incorporators of a bank were considered as important as to-day they seem trivial; though the number of charters already in force, and the variety of the political situations in which they had been granted, had early made monopoly rather a theory than a situation, and left the slight extent to which favoritism might be shown in the organization of new institutions the only remnant of what had earlier been most important political factors. The third period was characterized by its assertion of the necessity of divorcing politics from the banking business; and, as a result of that assertion, the substitution of general laws instead of special charters. BANK CURRENCY IN NEW YORK PRIOR TO 189. Prior To The War Of 1812. The history of banking in the State of New York practically begins with an Act passed by the Legislature in April, 1782, confirming for the State of New York the charter of the Bank of North America, granted by the Congress of the Confederated Colonies, and at the same time prohibiting the establishment of any other banking corporation within the State ..".show more

Product details

  • Paperback | 492 pages
  • 189 x 246 x 25mm | 871g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236584546
  • 9781236584540