Speeches And Reports in the Assembly of New York At the Annual Session of 1838
Speeches And Reports in the Assembly of New York At the Annual Session of 1838
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SPEECH On banking, currency, and credit, deliverkjd in the assembly of new-york, march 29, 1838, up- on the passage of the general banking law.
[The General Banking Law so called, authorized any person, or Association, to issue notes for circulation as mo- ney, on a pledge of State Stocks with the Comptroller, or a pledge of land and Stocks, one half of the amount at least being Stocks. ) Mr. Barnard proposed to amend the bill in two par- ticulars : 1st. Requiring the bankers under this law to ...keep their notes at par in the city of New- York.
2d. Requiring them to limit their issues to five times the average monthly amount of specie on hand.
The proportion of specie to circulation was first pro- posed by Mr. Barnard to be fixed at twenty per centj afterwards at fifteen. The bill finally passed both Houses with the proportion fixed at twelve and a half per cent.
The bill and amendments being under consideration, Mr. Barnard spoke as follows : Mr. Chairman: I have now a most responsible and a most embarrassing duty to perform.
What to read after Speeches And Reports in the Assembly of New York At the Annual Session of 1838?
You can find similar books in the "Read Also" column, or choose other free books by Daniel D Daniel Dewey Barnard to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
SPEECH On banking, currency, and credit, deliverkjd in the assembly of new-york, march 29, 1838, up- on the passage of the general banking law.
[The General Banking Law so called, authorized any person, or Association, to issue notes for circulation as mo- ney, on a pledge of State Stocks with the Comptroller, or a pledge of land and Stocks, one half of the amount at least being Stocks. ) Mr. Barnard proposed to amend the bill in two par- ticulars : 1st. Requiring the bankers under this law to ...keep their notes at par in the city of New- York.
2d. Requiring them to limit their issues to five times the average monthly amount of specie on hand.
The proportion of specie to circulation was first pro- posed by Mr. Barnard to be fixed at twenty per centj afterwards at fifteen. The bill finally passed both Houses with the proportion fixed at twelve and a half per cent.
The bill and amendments being under consideration, Mr. Barnard spoke as follows : Mr. Chairman: I have now a most responsible and a most embarrassing duty to perform.
What to read after Speeches And Reports in the Assembly of New York At the Annual Session of 1838?
You can find similar books in the "Read Also" column, or choose other free books by Daniel D Daniel Dewey Barnard to read onlineMoreLess
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