National gold batik. National gold banks were authorized by the bank act of 1864 (for the Pacific
slope), their notes to be payable in gold and none to be issued of a denomination less than $5.
The issuance of notes was limited to 80 per cent of the par value of government bonds deposited
in the Treasury of the United States. The act of February 14, 1880, provided for the conversion of
these banks into regular national banks.
slope), their notes to be payable in gold and none to be issued of a denomination less than $5.
The issuance of notes was limited to 80 per cent of the par value of government bonds deposited
in the Treasury of the United States. The act of February 14, 1880, provided for the conversion of
these banks into regular national banks.
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