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Entered according to act of Congress, in the year eighteen hundred and seventy-eight,
BY JOHN D. PARSONS, JR.,
STEREOTYPED AND PRINTED BY WEED, PARSONS AND COMPANY.
ALBANY, N. Y.
I have endeavored to present in this volume a complete collection of all the cases relating to National banks. I have carefully gone over the volumes of reports, both Federal and State, published since 1864 — when the National Banking Act was passed — examining each case. I have in addition examined the various legal periodicals published since that date; and from these sources I have gathered every adjudication found pertaining to National banks. I have also added some cases not heretofore published in any form. The cases that have been superseded by a change in the statute laws or have been overruled by the higher courts, I have reported briefly in the Memoranda at the end of the volume.
I believe I have omitted nothing that could, by any possibility, be of use to any one; on the other hand I have included some cases of no considerable value to-day, but they were necessary to make the collection complete, and they will, at least, serve to illustrate the history of the law relating to National banks and the reasons upon which some of its most important rules were based.
Of the wisdom of the National Banking Act this volume affords the most convincing proof. Projected without precedent or experience,- prescribing a financial system for a great commercial people at the gloomiest period of its financial history, - superseding the peculiar schemes of the several States and trenching upon what, from use, they had come to consider their special prerogative, it was yet drafted with such judgment and skill that the experience of fourteen years has shown but few particulars in which it could be improved by the “amending hand,” while its terms are so clear and explicit that there has scarcely been a difference among the Courts as to its interpretation.
ISAAC GRANT THOMPSON. ALBANY, May 4, 1878.