Publisher's Synopsis
Excerpt from Supreme Court of the United States, Nos. 286, 288, and 289, December Term, 1865: G. Clarence Churchill, Impleaded With Edward S. Brayton Et Al., Plaintiffs in Error, Vs. The City of Utica; Chauncey P. Williams, in Behalf of Himself and All Other Stockholders in the National Albany Exchange Bank, Plaintiffs in Error
It is unnecessary to examine further the various provisions by which the powers and duties and functions of these national banking associations are more particularly ascertained and regu lated. The general purpose of the act of Congress cannot be misconceived. It is to authorize the organization of associations to be employed, not only in the service of the government as depositories and financial agents, but especially in facilitating the collection of internal duties, and the transfer and disburse ment of public moneys, and in furnishing to the people a safe and uniform note circulation, convertible immediately into notes of the United States, and to be made, convertible into coin as soon as the government shall provide for the payment of its own notes in that medium.
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