New-York tribune., 1841-05-28
NATIONAL BANK.


ona Bank such as he deems best calculated TO -eoseTTe
tho interests and promote the welfare Of the American 60
pie This plan appears in the forthcoming n''oe' o. ;se
Merchant, Magazine ana having been iarofed WITH proof
sheet. we are enabled give summary o: " provisions
They as follows
l. \ capital Of :30OO0O00 in transferable stock ard
:2OO0OO0O OF Government FIVE per cent stoeS 20 "aa
NAV be added an equal amount Of funds re-raen;
deposi,cs invested by the guardians o. orphans " os
which de,oe stock issued transferable brt Peya1i;
on the coming OF age Of the rghtful owner aeacca-
hon of this deposite stock would be the woF OF geaT-
Tic President. Directors (excep; Government and all
officer. Of the Bank to be paid compensation ios their
services bu, to be utterly prohibited from buying selling
stock while in Office or becoming in any way indebted 70 the
Bank either As principals enorsers otherwise The
President must own not less than $4,000 = stock the N
rec,ors each 100000 the Cashier 5000 Do Of branches
-Presiden, 10000 Directors 5000 Cashier =. )oo
8 The holders OF transferable stock elect eleven D'ec
tors of the Bank and three for each of Braache Con
gres my appoint four Directors for the Bank and orc Tor
each Branch or NAV direct that the several Collectors ard
harslas shall be Directors ccio Each State where
the Bank II Branch i. located shall be entitled elec
Director 10 represent the interests the DePo>te Stoko
ers The Directors TO choose President Tor the Bank and
for each OF the branches.
4 The Bank shall be located in New-York. wherever
else the Government, may direct Braaea in each STATE
which shall require it, and others No; more thaa ;@o
Branches in any one State.
> The President Of the BAN, and each Branch -al.
every quarter ay before the Secretary Of The Treasury
full true and particular tateen; the condition and 5si
ness of such Bank or Branch with such remarks M OK
lib, clearly It's true position. All the items OF psoh' and
loss shall specially be stated On the frs, Aonday Of each
month the Bank shall publish the Of il Specie
hand and Notes in circulation
g. The Government snail dcpo>i;e funds Bans
and the Bank shall dsbuse them whenever required,
abroad without charge expense 70 the Govern
Congress shall have power to modify the Charter as
the public good may a, any time require.
! The Bark to discount business Notes and inland Bills
of Exchange as usual but its bills Of Foreign Exchange
must be paid in ca. their paynen; secured by salts
factory colaterals. Were loans made in nd ~ Com
ncrca TRANSACTIONS the goods shall be insured and tho poll
cy deposited with the Bank
o. The Bank shall not be allowed to sell tic Government
bonds subscribed part of .a capital stock bur may pledge
them at home or abroadby unanimous of Directors
with the consent of the President
g. All notes a; first ssaed to be made payable Specie
Ncw-Ysrk NeOrlean>; afterwards other places may be
added The of the mother Bank and OF every branch
to be freely received by each and all Of them payments
Bullion deposited the l. 5. Mint be immediately paid
for by the Bank at its actual value
TO- The Bank shall be required receive money IN d.
posc and give check par Branch IN any part OF
the Union which may be designated, place the
the credit of any person indicated by the eposor ii; any
other Branch designated. By thus almost perfect
equalization of the Curency be effected and maintained
H. The Bark to issue no bill below 10 ;e Branches y
- The Bank shall divide above per ;'cr
mum on lis c., ;al all be held surplus till
amounts to $50 600 when the interest charged
snail be reduced per any further SURPLUS shall
be paid into the Treasury.
49, The Government on the strength offs subscription Of
saOO0OeOO On stock paid in) shall guarantee the bills
bonds or letters OF credit Of the Bank negotiated abroad.
which must no, e coed in all $2O,o0ooCo.
H. Congress shall appoint Commissioners investigate
AID carefully .lrervisc the concerns OF IA Bank.
l5 No stock transferable dcposte to be owned by
crs than citizens of the United States
10 No voting on proxies by officers o: the Bank.
H. The paid Directors attend every day ba-.
ness to b. transacted unle, amaiori'y present.
1S The Baah shall settle and require settlement 81 ba,
ances with c,le, banks daily weekly
49, The Bank to apart $20O0O0oo o: is capital Tor
the transaction OF Foreign Exchanges.
20 No other than commercial business paper 70 e DIS
counted and of tina; having 90 days e run No
accommodations or renewals.
21 The profits the drpose stock acr paying the hve
per tho holders be divided equally between the
General Government and the holders transferable stock.
1t estimated thar the Government; PROF.: from lie
Bank viii be 100000 per
Such the principal features OF TIE plan absi:;ed
through the forthcoming Merchant Magazine Some OF
them heartily approve especially the restriction OF soc
american Citizens. Of discounts ;c; commercial pa
per. well secured. short the regulation u proxy
the payment of al officers an! ha n;erdic;.oa of 81
loans stocsjobbus by then and the furnishing OF EN
changes par. On the other hand. think ;ae nominal
Of capital high, and would be used bug
bear. The tho Governments interest in it Viii also
give objections. We would prefer, rave =
ready indicated. Bank smaller capital devoted strictly TO