A History of Banking in All the Leading Nations Volume 4
Автор:William Graham Sumner Год: 2012 Издание: [не указанo] Страниц: 206 ISBN: 1130358933 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. 1896 Excerpt: ...the law of 1863 are retained by the Bank Act of 1888. Concerning discount business, however, instead of "bills and other commercial papers," the phrase reads now, "bills, assignations, and orderbriefjes," i. e., promissory notes. At the same time, it is ordered that these papers are to be admitted to circulation only if their term does not exceed six months. The law increases the Bank capital to twenty million guilders, and permits further increase of the same by law. The formation of a reserve fund has been made a legal requirement in the new article six b. This fund is destined to repair possible losses of capital, and must also be employed to bring up the net profits to five per cent, of the capital. The investment of the reserve fund has been facilitated. First of all, as...
