Senate, and not more than three by the State; the stockholders chose the
others.

The corporation could not accept any inconvertible property, or any
farm-mortgage, unless for its immediate use, either as security for an
existing debt, or to wipe out a credit.

It had no right to contract any debt greater than $35,000,000, more than
its deposits, unless by special act; the directors were made responsible
for every violation, and could be sued by each creditor. They could only
deal in gold and silver exchange, and not in other country securities
which could not be realized upon at once. The Bank could purchase no
public debt nor exceed 6 per cent. interest on its discounts and loans.
It could lend no more than $500,000, to the United States, $50,000, to
each State, and nothing to foreigners. It could give no bill of exchange
greater than $5,000; bank notes less than $100 were to be payable on
demand, and greater sums were not allowed to run longer than sixty days.
Two settlements were to take place every year.

Branches were to be established upon demand of legislative authorities,
wherever 2,000 shares of stock were subscribed for.

There were to be no bank notes less than $5.00, and every bill of
exchange, or bill payable at sight, was to be receivable by the public
Treasury.

The duty of the Bank was especially to pay out and receive the public
money, without profit or loss. It was to serve as agent for every State
contracting a loan; the cash belonging to the United States was to be
deposited at the Bank whenever the Secretary of the Treasury did not