A History of Modern Banks of Issue
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In our eReader you can find the full English version of the book. Read A History of Modern Banks of Issue Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A History of Modern Banks of Issue
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1 Out of this strain upon Canadian banking resources grew a further extension of the elasticity of the note issue, by the Act of July 20, igoS. 2 This act provided in substance for additional note issues under a heavy tax. The authority to make such issues was limited to the period from October in any year to January 3ist following, and the rate of the special tax was to be fixed by the Governor in Council, but at not more than five per cent. The proceeds of the tax go into the Consolidated Rev...enue Fund of Canada. Notes may be issued under these provisions, upon the initiative of the bank, but the amount must not exceed fifteen per cent, of paid-up capital and reserve funds. * This authority was availed of frequently by the banks during the following four years, but failed to meet entirely the great increase in banking credit required by agricultural and industrial expansion. A further law was enacted, therefore, in 1913, which took effect on July ist of that year, permitting the issue of bank- notes upon deposits of gold in central reserves.
What to read after A History of Modern Banks of Issue?
You can find similar books in the "Read Also" column, or choose other free books by Conant, Charles A. (Charles Arthur), 1861-1915 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
1 Out of this strain upon Canadian banking resources grew a further extension of the elasticity of the note issue, by the Act of July 20, igoS. 2 This act provided in substance for additional note issues under a heavy tax. The authority to make such issues was limited to the period from October in any year to January 3ist following, and the rate of the special tax was to be fixed by the Governor in Council, but at not more than five per cent. The proceeds of the tax go into the Consolidated Rev...enue Fund of Canada. Notes may be issued under these provisions, upon the initiative of the bank, but the amount must not exceed fifteen per cent, of paid-up capital and reserve funds. * This authority was availed of frequently by the banks during the following four years, but failed to meet entirely the great increase in banking credit required by agricultural and industrial expansion. A further law was enacted, therefore, in 1913, which took effect on July ist of that year, permitting the issue of bank- notes upon deposits of gold in central reserves.
What to read after A History of Modern Banks of Issue?
You can find similar books in the "Read Also" column, or choose other free books by Conant, Charles A. (Charles Arthur), 1861-1915 to read onlineMoreLess
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