National Currency Act

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	National Currency Act - Wikipedia, the free encyclopedia
		The National Currency Act was signed into law on 26 February 1863 by president Abraham Lincoln.
		This act established the Office of the Comptroller of the Currency, a bureau governed by the Secretary of the Treasury, to begin the first steps to a nationwide circulation of standardized currency.
		This currency- or coinage-related article is a stub.
	en.wikipedia.org /wiki/National_Currency_Act (98 words)

	OCC 140th Anniversary - Historical Milestones 1863 - 1892
		President Abraham Lincoln signs the Currency Act of 1863 on February 25, establishing the Office of the Comptroller of the Currency.
		National Bank Act of 1864 revises chartering and reserve requirements for national banks.
		The first national bank charter is issued to the First National Bank of Philadelphia on June 20.
	www.occ.treas.gov /OCC140th/mile.htm (143 words)

	US Currency from South Western Collectibles Grading Service
		The National Currency Act of 1863, later amended and renamed the National Banking Act, was enacted by Congress to establish a national banking system and a uniform national currency.
		Early efforts to establish a sound metallic and paper currency led to the inception of the First United States Bank (1791); a national currency (1792), including the present decimal system of coinage; and a mint (1794).
		All U.S. currency is now issued by the Federal Reserve banks; bank notes, previously issued by the national banks, were retired in 1935.
	www.swcgs.com /US_Currency.html (3353 words)

	FR Doc 03-2641
		The National Charter and the Role of Visitorial Powers Congress enacted the National Currency Act (Currency Act) in 1863 and the National Bank Act the year after for the purpose of establishing a new national banking system that would operate distinctly and separately from the existing system of state banks.
		The Currency Act and National Bank Act were enacted to create a uniform and secure national currency and a system of national banks designed to help stabilize and support the post-Civil War national economy.
		National Bank of the State of Missouri, 85 U.S. 409, 412-413 (1874) (``It cannot be doubted, in view of the purpose of Congress in providing for the organization of national banking associations, that it was intended to give them a firm footing in the different states where they might be located.
	www.bankersonline.com /topstory/fedreg/68FR6363.txt (10107 words)

	OH Charter #2604
		National Bank Notes were issued beginning with the National Currency Act of 1863, and were intended to stabilize the system of banking and currency in the United States.
		In 1908, an Emergency Currency Act known as the Aldrich-Vreeland Act amended the charters of existing National Banks, allowing them to issue notes that were not only backed by United States bonds, but by other securities as well.
		The Act of July 12, 1882 provided for the extension of these charters for another 20 years, and mandated a change in the designs of the National Bank Notes that were currently being issued.
	www.papermoneyfacts.com /national_currency/Ohio/oh_02604.htm (804 words)

	FRBSF: A Brief History of Currency (Annual Report)
		National Banking Act in 1863 which established a national banking system and a uniform national currency to be issued by the new "national banks." The banks were required to purchase U.S. government securities as backing for their National Bank Notes.
		In 1913 a major change in paper currency occurred with the passage of the Federal Reserve Act aimed at resolving some long-standing money and banking problems which had led to bank failures, business bankruptcies, and general economic contractions.
		These currencies, however, set a precedent for the first national currency which was issued during the War for Independence.
	www.frbsf.org /publications/federalreserve/annual/1995/history.html (2844 words)

	No. 02-306: Beneficial National Bank v. Anderson - Amicus (Merits)
		That Act was enacted to create a system of national banks, capable of operating nationwide, under federally-established standards, in order to provide a sound and stable system of banking institutions to support national economic development and establishment of a uniform national currency.
		National Bank, 251 U.S. 108, 109 (1919) (Because "[r]espondent is a national bank, * whether transactions by it are usurious and the consequent penalties therefor, must be ascertained upon a consideration of the National Bank Act**.").
		In rejecting that claim, the Court stated that, "as the note in question was given to a national bank, the definition of usury and the penalties affixed thereto must be determined by the national banking act, and not by the law of the state." Id. at 134.
	www.usdoj.gov /osg/briefs/2002/3mer/1ami/2002-0306.mer.ami.html (8015 words)

	NATIONAL CURRENCY ACT
		And be it further enacted, That it shall be the duty of the comptroller of the currency to report annually to congress at the commencement of its session —
		The chief officer of the said bureau shall be denominated the comptroller of the currency, and shall be under the general direction of the Secretary of the Treasury.
		And be it further enacted, That all suits and proceedings arising out of the provisions of this act, in which the United States or its officers or agents shall be parties, shall be conducted by the district attorneys of the several districts, under the direction and supervision of the solicitor of the treasury.
	landru.i-link-2.net /monques/currencyact.html (2533 words)

	NARA - Guide to Federal Records - Records of the U.S. Secret Service [USSS]
		National Currency Act (12 Stat 665), February 25, 1863, created a national currency and extended sanctions against counterfeiting.
		SSD established in the OST, July 1865, with primary responsibility for combating counterfeiting, forging, and the altering of currency and securities.
		Statutory recognition accorded SSD by act of August 5, 1882 (22 Stat 230).
	archives.gov /research/guide-fed-records/groups/087.html?template=print (968 words)

	Commerce
		Chase introduced dramatic legislation, passed by Congress in 1863 as the National Currency Act and amended a year later as the National Banking Act.
		It is a most interesting history, one closely tied to the history of the nation itself, for the evolution of banking reflects the philosophy and mood of the population at different times.
		National banks competitively exist side by side with far more numerous state-chartered banks offering, in general, the same services and operating in the same fundamental way.
	www.com.state.oh.us /dfi/bnkhist.htm (2132 words)

	A Brief History of U.S. Banking
		These laws established a new system of national banks and a new government agency headed by a Comptroller of the Currency.
		In response, Congress passed the National Currency Act in 1863.
		National bank notes were the mainstay of the nation's money supply until Federal Reserve notes appeared in 1914.
	www.factmonster.com /ipka/A0801059.html (1067 words)

	United States Financial Regulation
		Federal Reserve notes were introduced as a national currency whose supply could be managed by the Fed. The notes were issued to reserve banks for subsequent transmittal to banking institutions as needed.
		The act formed the Office of the Comptroller of the Currency (OCC) with authority to charter and examine national banks.
		The Federal Government would charter national banks that would have authority to issue their own currency so long as it was backed by holdings in US Treasury bonds.
	www.riskglossary.com /articles/united_states_financial_regulation.htm (2857 words)

	national currency: OCC - Comptroller of the Currency, Administrator of National Banks
		National Bank Notes, or "National Currency," were established by the National Banking Act of 1863.
		The National Currency Act was signed into law on 26 February 1863 by president Abraham Lincoln.
		national currency: OCC - Comptroller of the Currency, Administrator of National Banks
	www.auxsemellesdevent.com /national-currency.html (317 words)

	GoldMoney
		That is what all national currencies were trying to be from 1914, when the link to gold for the national currencies began being broken, until 1971, when that direct link was broken altogether.
		From my experiences as a banker in the currency crises of the 1970's and from my extensive studies of monetary history, it became clear to me that the currency we were using was inadequate in many respects.
		As long as a fiat currency is not set in competition with gold (i.e., as long as it does not really care to replace gold as a perceived store of value), fiat is really not that destructive at all.
	www.goldmoney.com /en/commentary/2003-09-19.html (1843 words)

	Henry Clay: National Socialist
		The National Currency Act of 1862 established central banking and fiat currency; massive subsidies were given to railroads, the steamship industry, and hundreds of other rent-seeking businesses; tariffs were increased threefold and remained high for decades; an internal revenue bureaucracy was created; and the federal government was massively centralized.
		But Henry Clay can only be considered to be a "conservative" if conservatives embrace the economics of national socialism, for that is what Clay devoted his entire forty-year political career to.
		These statements helped pave the way for the federal government's cruel ethnic cleansing of the Cherokee nation, forcing everyone to walk from North Georgia and East Tennessee to Oklahoma during the winter of 1838.
	www.mises.org /freemarket_detail.asp?control=92&sortorder=articledate (953 words)

	The Patriotist - Al Benson, Jr.
		In regard to the National Currency Act, put forth in 1863, Dr. Pecquet wrote: "The National Currency Act [NCA] also represented a break with the antebellum Constitution.
		The new system served the Northern war objectives admirably...but the new national banking system was never designed to serve the postwar, peacetime needs of the United States very well.
		Pecquet wrote: "The national banking system adopted by the North in 1863 survived the conflict.
	www.patriotist.com /abarch/ab20020422.htm (704 words)

	Rewriting Economic History
		In order to eliminate all competition with the new national currency, the notes of state-chartered banks were hit with a massive tax in the following year.
		Jefferson, and acted upon it under his official oath, in vetoing a charter for a national bank.
		A national bank had to deposit with the Treasury, U.S. bonds amounting to at least one-third of its capital.
	www.freerepublic.com /focus/news/675910/posts (10035 words)

	AEH: AMER.MACRO: Par Clearance in the Domestic Exchanges: The Impact of National Bank Notes
		By mail: Ronnie J. Phillips Department of Economics Colorado State University Fort Collins CO 80523-1771 USA Language: English Abstract: Prior to the National Currency Act of 1863 and the National Banking Act of 1864, individual state-chartered banks issued currency denominated in dollars but traded at values ranging above and below par value.
		This paper presents two models to test empirically whether the existence of national bank notes served to push the domestic exchange rates toward par value.
		However, given information asymmetries and the prohibition on interstate banking, it is unlikely that the United States would have evolved toward par clearance without further government intervention in the payment system.
	www.eh.net /pipermail/abstracts/1998-October/000524.html (263 words)

	February 26
		1863- U.S. President Abraham Lincoln signs the National Currency Act into law.
		1919 - An act of the U.S. Congress establishes most of the Grand Canyon as a United States National Park (see Grand Canyon National Park).
		1970 - National Public Radio incorporates as a non-profit corporation.
	www.worldhistory.com /wiki/F/February-26.htm (877 words)

	Find in a Library: Report on the National Bank Currency Act its defects and its effects.
		Report on the National Bank Currency Act its defects and its effects.
		Find in a Library: Report on the National Bank Currency Act its defects and its effects.
		WorldCat is provided by OCLC Online Computer Library Center, Inc. on behalf of its member libraries.
	worldcatlibraries.org /wcpa/ow/0a9cb116ed9fcb5fa19afeb4da09e526.html (69 words)

	myfinance.ca - Consol currency
		Find currency - uncut U.S. bills, $500 U.S. Federal Reserve notes, unique American currency, and the changing five dollar bill.
		Learn which currencies are best to trade with a free practice account from FXCM.
		Try 4 weeks risk-free of the FT and get Currencies and more.
	www.myfinance.ca /Consol-currency/all/search (153 words)

	Timeline 1862-1863
		In 1975 the site was designated the nation’s first marine sanctuary, and it was the first shipwreck to be named a National Historic Landmark in the United States.
		Credit for establishing Thanksgiving as a national holiday is usually given to Sarah J. Hale, editor and founder of the Ladies' Magazine in Boston.
		Her editorials in the magazine and letters to President Lincoln urging the formal establishment of a national holiday of Thanksgiving resulted in Lincoln's proclamation, which designated the last Thursday of November as Thanksgiving Day.
	timelines.ws /1862_1863.HTML (14714 words)

	BU Law Library: Banking Research: Office of the Comptroller of the Currency (Topical Guides)
		Created in 1863 by the National Currency Act
		BU Law Library: Banking Research: Office of the Comptroller of the Currency (Topical Guides)
		Approves conversion of state chartered banks to national banks
	www.bu.edu /lawlibrary/research/bank/ococ.htm (107 words)

	AMER.MACRO: Par Clearance in the Domestic Exchanges: The Impact of National Bank Notes
		Prior to the National Currency Act of 1863 and the National Banking Act of
		Comptrollers of the Currency, who argued that the National banking system
		existence of national bank notes served to push the domestic exchange rates
	www.eh.net /abstracts/archive/0207.php (315 words)

	Lincoln signs National Currency Act February 26 in History
		Lincoln signs National Currency Act February 26 in History
		Slippery bunch, angels, hiding their nasty little sins behind curtsies and compliments, Bibles and badges.
	www.brainyhistory.com /events/1863/february_26_1863_55226.html (37 words)

	Sabre Interface User Record Change Briefing
		Displays a list of rates for the currencies of other countries, in relation to the national currency of the country named in the request. The currency code must be the valid currency for the country specified in the entry.
		When converting fares from a national currency to euro or vice versa, the fares are converted using the fixed rate between the euro and the national currency.
		All fares converted to/from an EMU national currency are converted via the euro using the fixed rates of exchange set by the E.C. When a fare quote request is processed, all fares applicable for the market are selected, whether published in national currency or euros.
	www.sabretravelnetwork.com /products_and_services/travel_agencies/hardware_software/s1_000964.htm (4173 words)

	Judgment of the Constitutional Court of 30 January 2004, Minsk No. J-168/2004
		The norms entrusting the National Bank with regulation of the currency valuables management in the territory of the Republic of Belarus shall be also contained at the present moment in Article 33 of the Banking Code.
		It was also envisaged that the National Bank shall specify the sphere and the procedure of circulation in the Republic of Belarus of the foreign currency and payment documents in the foreign currency (point 2).
		Point 1 of Decree of the President of the Republic of Belarus of 23 February 2000 No. 87 the Council of Ministers and the National Bank were specified as the bodies of the currency management and the currency control.
	ncpi.gov.by /ConstSud/eng/j168.htm (4173 words)

	LAW ON ECONOMIC ACTIVITY OF FOREIGN PERSONS AND ON PROTECTION OF FOREIGN INVESTMENT
		Another deviation from the regime imposed by Law on Transactions in Currency Valuables and on Currency Control, this provision is intended to facilitate the hiring by foreign investors of foreign nationals with skills required for running their business activities.
		Permits for banking activity and for participation in banking firms shall be issued by the Managing Board of the Bulgarian National Bank.
		(2) The Council of Ministers and the Bulgarian National Bank, respectively, shall publish in the Official Gazette the conditions which must be met for the issuance of a permit pursuant to paragraph (3) of the previous article.
	www.csd.bg /publications/Issue3.html (4173 words)

	OCC: About the OCC
		In the National Currency Act of 1863, the administration of the new national banking system was vested in the newly created OCC and its chief administrator, the Comptroller of the Currency.
		That act authorized the Comptroller of the Currency to hire a staff of national bank examiners to supervise and periodically examine national banks.
		The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving in the best possible manner the banking needs of their customers.
	www.occ.ustreas.gov /aboutocc.htm (881 words)

	decr_cur.txt
		The National Bank of Ukraine may determine the limit for margins for operations conducted at the inter-bank currency market of Ukraine by the authorized banks and other crediting and financial institutions, which obtained the license of the National Bank of Ukraine, except operations with the futures agreements.
		Trade in foreign currencies on the territory of Ukraine shall be conducted by the resident and non-resident legal entities through the authorized banks and other crediting and financial institutions, which obtained the National Bank license for trade in foreign currencies, exclusively on the currency market of Ukraine.
		The Licenses by the National Bank of Ukraine 1.
	www.brama.com /law/banking/decr_cur.txt (881 words)

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