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The special order of payments - in a metallic currency extended.] for the sum
In 150 million dollars. This event has called a wave of protests, including with
The parties of banks. One of the key purposes of the announcement of banknotes of the government
Its aspiration to force banks to accept them was a lawful instrument of payment. In
Current of next 12 months two more issues on 150 million have been made
Dollars everyone. Then issue of paper money (greenbacks) was
It is stopped, and Chejz has addressed to the new scheme of attraction of means by sale
The state securities through system of national bank.
This step became logic continuation of system of deposition of bonds, on this
Time any more at staff level, and on federal, or national, level. On
(Act of 1864), the establishment of banks with quantity was authorised to the law of 1864
Shareholders not less than five and the capital not below 50 thousand dollars. A creation condition
Such banks there was a maintenance with them of the issue through deposition
The registered bonds of the USA in Exchequer of the United States. The sum
Issue should not exceed 90 % of market cost of the deposited
Bonds and 100 % of their face-value.
In a case if the bank stopped to pay on the banknotes, the Exchequer should
Was to sell bonds and to make payments independently. Besides,
The exchequer possessed the right of priority to all actives gone bankrupt
Bank for payments under all claims which have been not satisfied through sale
Bonds. Moreover, shareholders of bank bore double responsibility. Banks
Should hold certain percent from the sum of the issue and deposits in
Kind of lawful currencies, and those at that time were banknotes
Exchequers and a metallic currency.
The aspiration was the main motive for the organisation of similar system, certainly,
To create an extensive bond market of the government. However from the very beginning the new
National banks reflected as the future replacement to banks of states, and special
The emphasis became on advantages of uniform currency.
The law provided that banks of states should undertake
Certain steps to be entered in this scheme. As rates, with
With which this process passed voluntary, have appeared below on what
The government hoped in the beginning in 1865 the law has been passed,
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