1. Act for a national bank.
- Subjects
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NATIONAL banks (U.S.) , *ADMINISTRATIVE acts , *COMMISSIONERS , *CORPORATIONS , *HISTORY of the central banking industry , *BANKING laws , *BANKING industry , *HISTORY ,UNITED States politics & government, 1817-1825 ,UNITED States economic policy - Abstract
The article presents the Act of March 3, 1819, chapter 44, incorporating subscribers to the Bank of the United States. As enacted by the United States Congress, the act establishes a bank of the United States of America, with a capital of thirty five million dollars. Seventy thousand shares amounting to seven million dollars shall be paid for by the U.S., and 280,000 shares amounting to the sum of twenty-eight million dollars shall be paid for by individuals, companies, and corporations. Section two establishes banks across the county including locations like Portland, Maine; Boston, Massachusetts; New York, New York; and New Orleans, Louisiana. It also says these subscriptions will be opened under the superintendence of five commissioners in Philadelphia and three at each of the other locations.
- Published
- 2017