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Bank Bill Of 1791
The Bank Bill of 1791 is a common term for two bills passed by the First Congress of the United States of America on February 25 and March 2 of 1791. Background After Alexander Hamilton became Secretary of the Treasury in 1790, he promoted the expansion of the federal government through a variety of controversial bills. Hamilton argued that a federal bank would be beneficial to the national economy. The opening paragraph of the bill sums up his arguments: Rights and restrictions This bill grants that a "bank of the United States" shall be granted limited legal rights in order to manage the national finance, to obtain loans for the federal government in case of sudden emergencies, and to promote trade and industry. The bank was granted the following legal rights and restrictions: Bank stock The corporation was granted the right to issue paper stock under the following restrictions: * The corporation was granted the legal right to sell a maximum of 25,000 shares of stoc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Washington
George Washington (February 22, 1732, 1799) was an American military officer, statesman, and Founding Father who served as the first president of the United States from 1789 to 1797. Appointed by the Continental Congress as commander of the Continental Army, Washington led the Patriot forces to victory in the American Revolutionary War and served as the president of the Constitutional Convention of 1787, which created the Constitution of the United States and the American federal government. Washington has been called the " Father of his Country" for his manifold leadership in the formative days of the country. Washington's first public office was serving as the official surveyor of Culpeper County, Virginia, from 1749 to 1750. Subsequently, he received his first military training (as well as a command with the Virginia Regiment) during the French and Indian War. He was later elected to the Virginia House of Burgesses and was named a delegate to the Continental Congress ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Personhood
Corporate personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings (like owners, managers, or employees), has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, a corporation has the same rights as a natural person to hold property, enter into contracts, and to sue or be sued. Early history India, as early as 800 BC, granted legal personhood to guild-like ''śreṇī'' that operated in the public interest. The late Roman Republic granted legal personhood to municipalities, public works companies that managed public services, and voluntary associations (''collegia'') such as the early Catholic Church. The diverse collegia had different rights and responsibilities that were independent of the individual members. Some collegia resembled later medieval guilds and were allowed to advance the needs of a trade as a whole, but collegia were other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Report On A Plan For The Further Support Of Public Credit
The Report on a Plan for the Further Support of Public Credit, is the "valedictory" report issued to the US Congress on January 16, 1795 by the first Secretary of the Treasury, Alexander Hamilton. In addition to defending the fiscal programs that he had imposed thus far and extolling a system of finance that was "prosperous beyond all expectations" the report enumerated existing sources of revenue, outlined the plan for the "Redemption of the public debt" and its accruing interest to stabilize the current system of funding, and proposed amendments to the System of Public Credit that were designed for the complete extinguishment government debt and to "prevent that progressive accumulation of Debt which must ultimately endanger all Government." Essentially, his report was submitted to address the fears of the Democratic-Republicans that the public debt would later become unmanageable. Hamilton subsequently discusses resolutions adopted by Congress for the sequestration of Britis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Report On Public Credit
The Second Report on the Public Credit, also referred to as The Report on a National Bank,Malone, 1960, p. 259 was the second of four influential reports on fiscal and economic policy delivered to the US Congress by the US Secretary of the Treasury, Alexander Hamilton.Staloff, 2005, p. 91 Submitted on December 14, 1790, the report called for the establishment of a central bank with the primary purpose to expand the flow of legal tender, monetizing the national debtMalone, 1960, p. 262 by issuing of federal bank notes.Miller, 1960, p. 53 Modeled on the Bank of England, the privately held but publicly funded institution would also serve to process revenue fees and to perform fiscal duties for the federal government.Staloff, 2005, p. 97 Hamilton regarded the bank as indispensable to produce a stable and flexible financial system.Brock, 1957, p. 44 The ease with which Federalists advanced legislation to incorporate the bank impelled agrarian opposition that was hostile to Hamilton's e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Sovereignty
Monetary sovereignty is the power of the state to exercise exclusive legal control over its currency, broadly defined, by exercise of the following powers: * Legal tender – the exclusive authority to designate the legal tender forms of payment. * Issuance and retirement – the exclusive authority to control the issuance and retirement of the legal tender."The Legal Aspect of Money" by F.A. Mann, 5th edition, Oxford, 1992, pp. 460-78 Incidence of monetary sovereignty Currently, nations such as the USA and Japan, which have autonomous central banks exercise monetary sovereignty. On the other hand, the European Union nations within the Eurozone, have ceded much of their monetary sovereignty to the European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#Intern .... Referen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Bank Of The United States
First or 1st is the ordinal form of the number one (#1). First or 1st may also refer to: *World record, specifically the first instance of a particular achievement Arts and media Music * 1$T, American rapper, singer-songwriter, DJ, and record producer Albums * ''1st'' (album), a 1983 album by Streets * ''1st'' (Rasmus EP), a 1995 EP by The Rasmus, frequently identified as a single * '' 1ST'', a 2021 album by SixTones * ''First'' (Baroness EP), an EP by Baroness * ''First'' (Ferlyn G EP), an EP by Ferlyn G * ''First'' (David Gates album), an album by David Gates * ''First'' (O'Bryan album), an album by O'Bryan * ''First'' (Raymond Lam album), an album by Raymond Lam * ''First'', an album by Denise Ho Songs * "First" (Cold War Kids song), a song by Cold War Kids * "First" (Lindsay Lohan song), a song by Lindsay Lohan * "First", a song by Everglow from ''Last Melody'' * "First", a song by Lauren Daigle * "First", a song by Niki & Gabi * "First", a song by Jonas Brot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quorum
A quorum is the minimum number of members of a deliberative assembly (a body that uses parliamentary procedure, such as a legislature) necessary to conduct the business of that group. According to ''Robert's Rules of Order Newly Revised'', the "requirement for a quorum is protection against totally unrepresentative action in the name of the body by an unduly small number of persons." In contrast, a plenum is a meeting of the full (or rarely nearly full) body. A body, or a meeting or vote of it, is quorate if a quorum is present (or casts valid votes). The term ''quorum'' is from a Middle English wording of the commission formerly issued to justices of the peace, derived from Latin ''quorum'', "of whom", genitive plural of ''qui'', "who". As a result, ''quora'' as plural of ''quorum'' is not a valid Latin formation. In modern times a quorum might be defined as the minimum number of voters needed for a valid election. In ''Robert's Rules of Order'' According to Robert, each as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self Governance
__NOTOC__ Self-governance, self-government, or self-rule is the ability of a person or group to exercise all necessary functions of regulation without intervention from an external authority. It may refer to personal conduct or to any form of institution, such as family units, social groups, affinity groups, legal bodies, industry bodies, religions, and political entities of various degree. Self-governance is closely related to various philosophical and socio-political concepts such as autonomy, independence, self-control, self-discipline, and sovereignty. In the context of nation states, self-governance is called national sovereignty which is an important concept in international law. In the context of administrative division, a self-governing territory is called an autonomous region. Self-governance is also associated with political contexts in which a population or demographic becomes independent from colonial rule, absolute government, absolute monarchy or any gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or company, enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a Market (economics), market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic Competition (economics), competition to produce the good (economics), good or Service (economics), service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude oil, Maize, corn, and gold. Other definitions of commodity include something useful or valued and an alternative ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Person
A juridical person is a non-human legal person that is not a single natural person but an organization recognized by law as a fictitious person such as a corporation, government agency, NGO or International (inter-governmental) Organization (such as United Nations). Other terms include artificial person, corporate person, judicial person, juridical entity, juridic person, or juristic person. A juridical person maintains certain duties and rights as enumerated under relevant laws. The rights and responsibilities of a juridical person are distinct from those of the natural persons constituting it. Since ancient times, associations have been known as the original form of the juridical person. This is documented for the 1st century A.D. for Jewish trading companies. In Roman law, too, the institution already had significance, although it was not called as such. Conceptually, it included institutions such as the state, communities, corporations (''universitates'') and their association ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
