A History of the Bank of North America; Prepared at the Request of the President and Directors

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1882. Not illustrated. Excerpt: ... II. On the 17th day of May, 1781, the following Plan was submitted to the consideration of the United States in Congress assembled: PLAN FOR ESTABLISHING A NATIONAL BANK FOR THE UNITED STATES OF NORTH AMERICA. 1st. That a Subscription be opened for four hundred thousand dollars, in Shares of Four hundred dollars each, to be paid in Gold or Silver. 2d. That the subscription be paid into the Hands of George Clymer and John Nixon, Esqrs., or their agents. 3d. That every subscriber of less than five shares pay the whole sum on the day of his subscription. 4th. That every subscriber of Five Shares, or upwards, pay one-half the Sum on the day of his subscription, and the other half within three months of that day. oth. That every holder- of a share shall be entitled to a vote by himself, his agent, or proxy, properly appointed, at all Elections of Directors, and that he have as many votes as he hold shares, and that every Subscriber may Sell or Transfer his Share or Shares at his pleasure, the Transfer being made in the Bank Books, in presence and with the approbation of the proprietor or his Lawful Attorney, the purchaser then to become entitled to the right of Voting, &c. 6th. That there be Twelve Directors chosen from among those entitled to vote, who, at their first meeting, shall choose one as President. 7th. That there be a meeting of the Directors Quarterly, for the purpose of Regulating the affairs of the Bank, and seven of the Directors to make a Board, and that the Board have power to adjourn from time to time. 8th. That the Board of Directors determine the manner of doing Business, and the Rules and Forms to be pursued, appoint the various Officers which they may find necessary, and dispose of the Money and Credit of the Bank for the Interest and Benefit of...