Early Illinois Paper Money
Early Illinois Paper Money
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In our eReader you can find the full English version of the book. Read Early Illinois Paper Money Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Early Illinois Paper Money
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One of the re- quirements of the act was that any person who desired to engage in the issue of notes be required to deposit with the State Auditor bonds issued by the United States, the state of lillinos, or any state which paid full six percent interest. The deposit of the first two classes of bonds en- titled the owner to circulate notes to the full market value of the onds, but not more than half their par value.
When first passed, this new, so- called "free" banking law of 1851, could be an...d was so construed that two kinds of banks were established, each under the supervision of the state auditor, but one issuing notes secured by deposited bonds and the other simply issuing unsecured notes.
This act was responsilbe for the creation of many varieties of early paper money for which the collector of today may seek. Newspapers of the period tell of the establishment and the circulation of notes of many banks that no specimens have come down to us.
Banks were slow to be organized under the new law.
What to read after Early Illinois Paper Money?
You can find similar books in the "Read Also" column, or choose other free books by R Edward Davis to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
One of the re- quirements of the act was that any person who desired to engage in the issue of notes be required to deposit with the State Auditor bonds issued by the United States, the state of lillinos, or any state which paid full six percent interest. The deposit of the first two classes of bonds en- titled the owner to circulate notes to the full market value of the onds, but not more than half their par value.
When first passed, this new, so- called "free" banking law of 1851, could be an...d was so construed that two kinds of banks were established, each under the supervision of the state auditor, but one issuing notes secured by deposited bonds and the other simply issuing unsecured notes.
This act was responsilbe for the creation of many varieties of early paper money for which the collector of today may seek. Newspapers of the period tell of the establishment and the circulation of notes of many banks that no specimens have come down to us.
Banks were slow to be organized under the new law.
What to read after Early Illinois Paper Money?
You can find similar books in the "Read Also" column, or choose other free books by R Edward Davis to read onlineMoreLess
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