Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1864-03-18

things to come" lie, us have the war ended
the constitution amended, slavery buried &C
&c. and so on, before March 8, 1855, II we
can We wish to have Lincoln do hts pest
in that line of conduct. II he does veil
well it is; if not, then we shall be disposed
TO see how better can be done. We are OF no
faction, though, in the quarrel in Missouri
our sympathies certainly have been with the
radicals for the most part; but out of all lac
lions. or in spite Of them, we are for getting
the utmost good that is practicable. We Will
not refuse good thing because it comes from
A radical, nor give it the cold shoulder II from
a conservative. The country needs the aid OF
them ALL The policy which embraces all
patriots, in spite Of old party affinities' should
as well include all factions in the Republic
an ranks--if they are patriotic enough to per-
nit it, If they are not patriotic, the coun-
try must be saved without them
What National Banks may or may not do
The bill remodelng the national currency
act. az reported Monday from the committee
Of ways and means by Representative Hooper
of Massachusetts, fixed the term OF office OF
the comptroller Of the currency at five years
Associations for banking may be formed by
not less than FIVE persons 100000 is the
minimum limit of capital, and $780, 600 in
cities of a population of SO, 600. Banks are
empowered to discount and negotiate prom
/ issory notes. checks, and other evidences Of
/ debt; TO receive deposits buy and sell coin
and bullion loan money and circulate notes.
Increase Of capital is allowed, the maximum
to be determined by the comptroller, and the
capital may be reduced by two-thirds vote
! Of the stockhslders Fifty per cent must be
/ paid in before commencing business, and uni
T ted States registered bonds, bearing interest,
shall be transferred to the United States treas
urer, to not less than oue-third OF the amount
Of the capital stock paid in, but in no case
less than $50 900 On the delivery Of such
bonds 10 the United States treasurer, banks
are entitled to receive notes to the amount OF
80 per cent Of the current market value OF
/ United States bonds transferred The amount
of circulation is limited to $500, 600, 900
The total liabilities Of any individual or com
pany shall at no time exceed one tenth OF the
capital stock paid in, but bona fide bills Of
exchange drawn against actually existing val
ues are not regarded as money borrowed
The rate OF interest nAed Is per cent Whlcl
may be taken in advance, and the taking OF 4
higher rate shall forfeit the entire interest
Banks of st. Louis, Louisville, Chicago, New
Orleans, Cincinnati, Baltimore, Philadelphia
Boston, New York aud San Francisco, shall
have on hand at least rs Fer cent Of the ag'
pregate amount Of circulation and deposits
all others / 5 per cent, and when lower II
funds no discount or loans can be made, MOI
can they make dividends Of profits until the
amount is restored. Each bank shall select
some association in one Of the principal cities
to redeem its notes at par Before declaring
dividends, one tenth part OF the profits mus
be carried to a surplus fund until it shall
amount to 20 per cent Of the capital stock
No bank shall make, loan, or discount on Sc
curity OF its own shares Of capital, or purchase
such shares, unless necessary to prevent los
upon debt previously contracted ; and stool
so purchased must be sold within six months
All associations under this act, when desig
mated by the secretary ofthe treasury, may b
deposi,aries Of public monies. excepting re
ceipis from customs.
The ways and means committee have re
e jected proposition to permit national bank
to issue notes Of smaller denomination tina
FIVE dollars