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" The object of this provision of the statute was to guard National banks from the hazard of speculative loans, but it contemplated and permitted to an unlimited amount the discount of paper used and required in facilitating the transfer of property and... "
Annual Report - Página xiii
de Michigan. Banking Division - 1905
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Paton's Digest, Volume 2

Thomas Bugard Paton - 1926
...from the hazard of loaning money in improvident amounts upon speculative and accommodation paper, but it contemplated and permitted, to an unlimited amount,...property and money in the transaction of the legitimate business of the country." In the case stated by you, the state bank which is indebted to your national...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. State Banking Department - 1910
...this provision of the statute was to guard National banks from the hazard of speculative loans, but it contemplated and permitted to an unlimited amount...property and money in the transaction of the legitimate business of the country." Citing Oswego Second National Bank v. Burt, !>3 NY 244. It was evidently...
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