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Description and Holding Information
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Joint Special Comm. on the Business of Banking. Report and new draft bill, 1857
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SEE ALSO 56021, 56027 Thirty-sixth Legislature. House. No. 43. A Joint Special Committee to consider the business of banking in Maine sent a
report and a bill. There were many problems with the present system, especially the number of locally chartered banks that had been sold to out of state
managers. An Act to authorize the business of banking, 1857. The State Treasurer printed all the bank notes for the state, keeping a record of
denominations and to which bank the notes were issued. Banks filed certain information with the Treasurer and "paid" for their currency by depositing
stock with the Treasurer. There was a procedure for protested transactions involving the notes. There was a list of allowed business practices. Shares
were considered personal property. There were rules for the bi-monthly reports on the condition of a bank. If the shareholders, creditors, or the
Treasurer suspected wrong-doing, they could call for a special examination of a bank. Banks could not buy notes from another state to circulate in
Maine, but "foreign" notes that appeared during commerce would be honored. There was a procedure for retrieving notes from a bank that planned to close.
(Digitized from a microfilm copy of title originally held by the Library of Congress).
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Title:
Report : the Joint Special Committee to whom was referred the bill authorizing the business of banking, having had the same under consideration, ask leave to report a bill, in a new draft, and submit the following report ...
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OCLC Number:
1428173546
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Available Volumes
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| Name | Fiche Count | Online | Paper Backup |
| Vol. 1 | | Yes | No |
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