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. 1889 edition. Excerpt: ... HAND-BOOK FOR National Bank Officers. PART ONE LAWFUL-MONEY RESERVE. Legal Requirements. The "reserve" of a bank is that portion of its funds which it is required, by law, "at all times" to "have on hand in lawful money of the United States." The law bearing on the subject is to be found in sections 5191, ...
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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. 1889 edition. Excerpt: ... HAND-BOOK FOR National Bank Officers. PART ONE LAWFUL-MONEY RESERVE. Legal Requirements. The "reserve" of a bank is that portion of its funds which it is required, by law, "at all times" to "have on hand in lawful money of the United States." The law bearing on the subject is to be found in sections 5191, 5192, and 5195, United States Revised Statutes, chapter 4, National-bank Act; in sections 2 and 3 of the act of June 20, 1874; and in sections 1 and 2 of the act of March 3, 1887. All of these, except the act last mentioned, will be found in the " Nationalbank Act," compiled in 1885, under direction of the Comptroller of the Currency, but as the act of March, 1887, has been passed since then, the full text of same is given here: An adt to amend sections five thousand one hundred and ninety-one and five thousand one hundred and ninety-two of the Revised Statutes of the United States, and for other purposes: Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That whenever three-fourths in number of the National banks located in any city of the United States having a population of fifty thousand people shall make application to the Comptroller of the Currency, in writing, asking that the name of the city in which such banks are located shall be added to the cities named in sections fifty-one hundred and ninety-one and fifty-one hundred and ninety-two of the Revised Statutes, the Comptroller shall have authority to grant such request, and every bank located in such city shall at all times thereafter have on hand, in lawful money of the United States, an amount equal to at least twenty-five per centum of its deposits, as provided in sections fifty-one hundred and ninety-one and fifty-one...
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