The Freedmen's Savings Bank

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Monograph

Identifikator:: 175265076X

URN:: urn:nbn:de:zbw-retromon-129631

Document type:: Monograph

Author:: Fleming, Walter Lynwood http://d-nb.info/gnd/120660560X

Title:: The Freedmen's Savings Bank

Place of publication:: Chapel Hill

Publisher:: Univ. of North Carolina Press

Year of publication:: 1927

Scope:: x, 170 S.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. The affairs of the bank under the controller of the currency

Collection:: Economics Books

Chapter VIII THE AFFAIRS OF THE BANK UNDER THE COMPTROLLER OF THE CURRENCY BOARD OF COMMISSIONERS ABOLISHED ‘HE necessity for changing the adminis- tration of the affairs of the bank had long been obvious and Congress was at last convinced. The administration of the three com- missioners was too expensive—from 1874 to 1879 it had cost $355,994.77; they lacked full author- ity to dispose of the property of the bank, and their unedifying personal disputes brought dis- credit upon their work. So in 1881, partly as a result of the Bruce investigation, Congress abol- ished the board of commissioners and made the Comptroller of the Currency a commissioner to close out the business. He was allowed a salary of $1,000 to be taken from the funds of the bank; thus a saving of $8,000 a year in salaries alone was effected.’ DUTIES OF THE COMPTROLLER By this act of Congress the funds collected by the Comptroller were to be placed in the United States Treasury and were to draw interest; when dividends were to be declared, he was to pay the 1 Acts of February 21, 1881 and April 5, 1882, 1735

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