A Bank Building (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from A Bank Building<br/><br/>Genoa in 1407. This system was first established, for the north I ern part of Europe, at Amsterdam in 1609. They furnished the money with which the East India Company was floated. The real value of a bank to a community is that it is ghe medium for distribution of products, locally as well as inter nationally, it facilitates distribution of labor and products to 1 all parts of the world. Money as representative of various forms of industry, finds its way to a bank, which could be called an in dustrial exchange, where this money is divided and passes from one person to another. The majority of banks in the United States are constituted 4 under the National Banking Act of 1862. These banks are all organ ized under the laws of, and chartered by the United States. A National bank must be organized by not less than five persons. Unless located in a small place they must have not less than paid up capital. Before beginning business they must send to the Treasurer of the United States some kind of United States interest bearing bonds to the amount of not less than one-third of the capi tal stock paid in. After the bonds have been deposited with the government as collateral security, the bank is allowed to issue notes to extent of ninety percent of the par value of the bonds.

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