and depositors in banks. A useful digest of legal decisions affecting the banks will be found in each of the reports since 1876. Congressional documents contain much valuable information, particularly the reports of hearings in the period from 1893 to 1901, when bank-note reform became a burning question, and the many plans suggested are printed in full in these volumes. See on this subject House Reports, No. 1508, 53d Cong., 3d Sess., and No. 1575, 55th Cong., 2d Sess. Statistics of state banks appear in the Reports of the Comptrollers of the Currency since 1874, and in reports in the 90's appear digests of the laws of the states relating to banks. The most valuable unofficial works are: ~ History of Banking in the United States, W. G. Sumner, History of Banking in the United States, John Jay Knox, History of Modern Banks of Issue, Charles A. Conant, New Theory and History of Banking, Chas. F. Dunbar, New ASSET BANKING, branch banking, the Baltimore plan, and other features are specially discussed in a number of the pamphlets in Sound Currency, in the two last-named works and in Report Indianapolis Monetary Commission. The reports of the proceedings of the annual meetings of the American Bankers' Association, 1875-1902, also contain much valuable material on the subject of banking and currency. THE CLEARING-HOUSE SYSTEM is discussed in: The New York Clearing House, N. Squire, 1888. Clearing Houses, James G. Cannon, New York, 1900. AUXILIARY CURRENCY is well treated in Sound Currency by J. D. Warner, Vol. II., No. 6. Consult also as to the Subtreasury: — The Independent Treasury of the United States, David Kinley, New York, 1893, and White, Money and Banking; Sumner, History of Banking in the United States. And on other pertinent topics: The Canadian Banking System, R. M. Breckinridge, Toronto, The Currency and Banking Law of Canada, W. C. Cornwell, PRICE, WAGES, etc., in U. S. Senate (Aldrich) Reports, No. 986, 52d Cong., 1st Sess. No. 1394, 52d Cong., 2d Sess. The VOLUME OF MONEY is given in the Statistical Abstracts in the Treasury Circular, No. 113 (1900), and in the Finance Reports in recent years. In Reports of the Treasurer of the United States will be found monthly statistics since 1878 in detail. Details are discussed also in Muhleman's Monetary Systems. The PANIC OF 1893 and the subsequent years of monetary troubles, and the bond issues, are discussed in the Messages of the Presidents and in Finance Reports for the years, by White, Noyes, Muhleman, and in numbers of Sound Currency. APPENDIX I ACT OF HIS MAJESTY'S PROVINCE OF THE MASSACHUSETTS-BAY, IN NEW-ENGLAND Anno regni Regis Georgii II Vicesimo-tertio CHAPTER V AN ACT for ascertaining the Rates at which coined Silver and Gold and English Half-pence and Farthings may pass within this Government. Whereas in and by an Act made and passed in the twentysecond Year of his present Majesty's Reign, Intituled, An Act for drawing in the Bills of Credit of the several Denominations which have at any Time been issued by this Government and are still outstanding, and for ascertaining the Rate of coin'd Silver in this Province for the future; it is enacted in the Words following, viz. "That all Bargains, and Contracts, Debts and Dues whatsoever which shall be agreed, contracted or made after the thirty-first Day of March 1750, shall be understood, and are hereby declared to be in Silver at six Shillings and eight Pence per Ounce, and all Spanish mill'd Pieces of Eight of full Weight shall be accounted, taken and paid at the Rate of six Shillings per Piece for the discharge of any Contracts or Bargains to be made after the said thirty-first Day of March 1750, the Halves, Quarters and other less Pieces of the same Coin to be accounted, received, taken or paid in the same Proportion." And whereas there is great Reason to apprehend that many and great Inconveniences may arise in Case any coin'd Silver or Gold, or English Half Pence and Farthings should pass at any higher Rate than in a just Proportion to Spanish Pieces of Eight or coin'd Silver at the Rates aforesaid: Be it therefore enacted by the Lieutenant Governor, Council and House of Representatives, That it shall not be lawful for any Person within this Government from and after the thirtyfirst Day of March One thousand seven Hundred and fifty, to receive, take or pay any of the following Coin at any greater or higher Rate than is allowed by this Act, viz. A Guinea at twenty-eight Shillings; An English Crown at six Shillings and eight Pence: An half Crown at three Shillings and four Pence : An English Shilling at one Shilling and four Pence: An English six Pence at eight Pence: A double Johannes or Gold Coin of Portugal of the Value of three Pounds twelve Shillings Sterling, at four Pounds sixteen Shillings: A single Johannes of the Value of thirty-six Shillings Sterling at forty-eight Shillings: A Moidore at thirty-six Shillings: A Pistole of full Weight at twenty-two Shillings: Three English Farthings for one Penny; and English Half Pence in greater or less Numbers in Proportion. And be it further enacted, That if any Person within this Government shall after the thirty-first Day of March One thousand seven Hundred and fifty, for the discharge of any Contract or Bargain, account, receive, take or pay any of the several Species of Coins before mentioned at any greater or higher Rate than at which the same is hereby regulated, settled and allowed to be accounted, received, taken or paid, every Person so accounting, receiving, taking or paying the same contrary to the Directions herein contained, shall forfeit the sum of fifty Pounds for every such Offence, one Moiety thereof to his Majesty for the Use of this Government, the other Moiety to such Person or Persons as shall sue for the same; to be recovered with full Costs of Suit by Action of Debt, Bill, Plaint or Information in any of his Majesty's Courts within this Province. Provided always, and it is hereby declared, That nothing in this Act shall be understood to restrain any Person or Persons from accounting, receiving, taking or paying any of the above mentioned Species or Coins in discharge of any Debts, Contracts or Bargains made before the thirty-first Day of March One Thousand seven Hundred and fifty, at the following Rates, viz. For any Debt contracted before the said thirty-first Day of March, and understood to be payable in Bills of the old Tenor in such Proportion higher or greater than the Rates set at in this Act, as forty-five Shillings is to six Shillings; and for any Debt contracted before the said thirty-first Day of March, and understood to be payable in Bills of the middle Tenor or Bills of the new Tenor, in such Proportion higher or greater than the Rates set at in this Act, as eleven Shillings and three Pence is to six Shillings: Any Thing in this Act to the contrary notwithstanding. |