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In March, 1836, the Massachusetts Legislature allowed banks to concern post-notes to an amount not exceeding fifty per cent. In 1836, a memorial was addressed to the Massachusetts Legislature for a Bank of the State, to have $10 tens of millions capital, and the Banks of the State in Louisiana and winspirit best online casino bonuses australia Alabama were pointed to as fashions. It was to lend the State, when required to take action, not over 0,000, for not lower than ten nor greater than twenty-five years, on bonds of the State. This financial institution casino uk online no deposit bonus was the subject of much complaint as a result of it was managed with a view to private revenue, and disillusioned the hopes that it might serve the public. LOUISIANA.-"A Bank of the State of Louisiana" was chartered April 7, 1824; capital $four millions; half by the State; the installments of the private subscriptions prolonged over two years; State subscription in 5 per cent. South Carolina.-The charters of the Planters and Mechanics' Bank and the Union Bank had been extended, December 18, 1830, for twenty-one years; each to pay a bonus of ,000. At the next session, December 23d, the Governor was directed to appoint three Commissioners annually to study the Financial institution of the State at Tuscaloosa as other commissioners already examined the branches.
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March 4th, they were allowed to extend their capital, in order to pay for these subscriptions. The officers weren't allowed to buy any State stock; the inventory of the State Bank owned by the State was to be bought and different safe inventory purchased. If this capital should prove too big, the bank may get permission from the Legislature to buy in shares. It also had permission to construct a railroad. Hold as many playing cards as you want to build the strongest hand. In the identical year the Commercial Bank of latest Orleans was organized to build water works, and the Mechanics and Traders' Bank, of whose directors 5 had been to be mechanics. Two days later the brand new Orleans Canal and Banking Company was integrated until 1870; $Four millions capital; to cut a canal through town from Lake Ponchartrain. The city Bank of latest Orleans was integrated March 3, 1831, until 1850; capital, $2 tens of millions; to lend the State $100,000; lowest be aware $5; by no means to suspend redemption in "current money of the United States" under a penalty of twelve per cent.
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