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Banking Principles and Practice (Dodo Press) by E. L. Stewart Patterson

By E. L. Stewart Patterson

Edward Lloyd Stewart Patterson (1869- 1932) was once a Canadian writer. He was once Superintendent of japanese Township Branches, Canadian financial institution of trade. His works contain Banking ideas and perform (1917). "It will be very unlikely in the slim confines of 1 quantity to deal exhaustively with so huge a subject matter as that of Canadian banking perform, however it is was hoping that the elements of this topic handled herein might be discovered to be taken care of with due regard to their relative significance, and that no fairly crucial details has been ignored. "

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Consideration. Negotiation of bills. Presentment for acceptance. Presentment for payment. Dishonor and protest. Liabilities of parties. Discharge of bill. Miscellaneous. Checks {Crossed checks). Promissory notes. Schedule. 1 1 Copies of the Bills of Exchange Act can be obtained by forwarding twenty cents to the King’s Printer, Ottawa. Review What are the powers and limitations of a Canadian bank? What are the regulations governing deposits? What information must a bank submit to the Minister of nance each year?

86%) are legal tender for any amount, and still form the bulk of the gold reserves of the government and of the banks, as it is only of recent years that Canada has had a distinctive gold coinage of its own. Gold coin is seldom seen in circulation and its use is practically confined to reserve purposes and international exchange operations. Silver is used for the subsidiary coins of the denominations from five to fifty cents and copper for the cents. With these exceptions, paper currency is practically the only form of money used in Canada.

Rates Of Interest And Exchange (Sections 91-94) A bank may stipulate for, or exact such rate of interest or discount as may be agreed upon, and may receive in advance any such rate, but no higher rate than seven per cent shall be recoverable by the bank. A bank may allow any rate of interest whatever upon deposits. The liability of the bank to repay money deposited with it is not affected by any statute of limitations or any law relating to prescription. A branch bank, when discounting bills payable at another branch, may take commission, in addition to interest, to an amount not to exceed 1/8 of one per cent; minimum, 15 cents.

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