kome
Member
Posts: 22
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Bank
Jun 18, 2014 18:50:05 GMT -5
Post by kome on Jun 18, 2014 18:50:05 GMT -5
Banks do not just store money, banks also offer loans to those that need money to found businesses. Eliminating that source of capital for entrepreneurs would severely restrain economic growth. The accountant line sounds great, but is nonsense in fact. The federal government is not becoming the states' accountant by chartering an independent bank that has no authority over the states' finances. let private individuals control capital through private transactions, there is no need for an overarching bank financial system to provide for the people. If anything this constrains growth by req uiring a very regimented system rather than just allowing private individuals to provide loans, capital, etc. Leave it to the private sector and we get a larger margin of growth and influx of foreign capital than we would if we had banks.
Thus a reduction and eventual elimination of banking and a return of the private banker who uses his own capital rather than a collective capital of an institution creates a more robust and strong economy using the principles of both macro and micro economics simultaneously.
States have to have the choice.
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Bank
Jun 18, 2014 20:55:28 GMT -5
Post by terrus on Jun 18, 2014 20:55:28 GMT -5
No one is suggesting the banks take over the states' finances. They'll still be able to spend their money however they please.
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Bank
Jun 18, 2014 21:02:36 GMT -5
Post by brandt on Jun 18, 2014 21:02:36 GMT -5
No one is suggesting the banks take over the states' finances. They'll still be able to spend their money however they please. No but what is being suggested is a national fixture that can regulate things which I am strongly opposed to. A National bank is not needed, let the states have total autonomy over this without federal interference of any kind.
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Bank
Jun 18, 2014 21:29:53 GMT -5
Post by surratt on Jun 18, 2014 21:29:53 GMT -5
Damn right! Slap that money under your mattress! Better yet stuff it down your pet alligators throat! You guys are awesomely funny and I love you all.
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Bank
Jun 18, 2014 21:32:49 GMT -5
Post by surratt on Jun 18, 2014 21:32:49 GMT -5
On a more serious note. If and when Terrus' bill hits the floor, I'm hoping we can all act like adults and respectfully disagree and not go for each others throats. Politically speaking this is a soft national bank compared to the one the Federalist have proposed.
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kome
Member
Posts: 22
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Bank
Jun 18, 2014 21:39:37 GMT -5
Post by kome on Jun 18, 2014 21:39:37 GMT -5
Yeah if you cant say yes abstain
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Bank
Jun 18, 2014 21:41:44 GMT -5
Post by surratt on Jun 18, 2014 21:41:44 GMT -5
Yeah if you cant say yes abstain No way. I fully expect the majority of you to oppose this. I mean this isn't a do or die situation. With Federalist backing this bill will pass anyways so I think it's ok for most of you guys to oppose it. Hell it's realistic that you do oppose it for the era and the party you belong to.
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Bank
Jun 18, 2014 21:46:17 GMT -5
Post by brandt on Jun 18, 2014 21:46:17 GMT -5
On a more serious note. If and when Terrus' bill hits the floor, I'm hoping we can all act like adults and respectfully disagree and not go for each others throats. Politically speaking this is a soft national bank compared to the one the Federalist have proposed. I will not support this, if someone wants to support this I suggest they become federalists. This is not legislation compatible with the aims of the Republican Party of this time period, let's be realistic and keep the game enjoyable please.
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Bank
Jun 18, 2014 21:50:39 GMT -5
Post by surratt on Jun 18, 2014 21:50:39 GMT -5
On a more serious note. If and when Terrus' bill hits the floor, I'm hoping we can all act like adults and respectfully disagree and not go for each others throats. Politically speaking this is a soft national bank compared to the one the Federalist have proposed. I will not support this, if someone wants to support this I suggest they become federalists. This is not legislation compatible with the aims of the Republican Party of this time period, let's be realistic and keep the game enjoyable please. Then don't support it. I'm just letting you know that I see no reason to get all up in arms. Especially considering I'm the one advocating for you guys to oppose it in the first based on your statement of realism.
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Bank
Jun 18, 2014 21:52:04 GMT -5
Post by brandt on Jun 18, 2014 21:52:04 GMT -5
It should be a hard party whip against it, vote for it if you want out of the party
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Bank
Jun 18, 2014 21:53:25 GMT -5
Post by surratt on Jun 18, 2014 21:53:25 GMT -5
It should be a hard party whip against it, vote for it if you want out of the party This is the exact attitude I'm hoping to avoid. Especially considering Terrus is authoring this bill, the Chairman of our party.
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Bank
Jun 18, 2014 22:09:20 GMT -5
Post by brandt on Jun 18, 2014 22:09:20 GMT -5
It should be a hard party whip against it, vote for it if you want out of the party This is the exact attitude I'm hoping to avoid. Especially considering Terrus is authoring this bill, the Chairman of our party. Which makes it even worse, as Chairman of our Party he should be making an effort to uphold the basic principles and tenets of the party not tearing them down through bills like this.
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Bank
Jun 19, 2014 4:42:19 GMT -5
Post by terrus on Jun 19, 2014 4:42:19 GMT -5
The national bank cannot regulate anything. This is not the federal reserve, its a weakened Bank of the United States. I'm not asking anyone here to support this, though. Feel free to oppose it to your heart's content. I'll respect your opposition, so long as you're respectful in it.
The Republican Party does oppose a national bank, and it does oppose a standing army. But the majority of Americans favor these things (notice that the nation's mood is liberal), and most federalists and independents favor these things. They're going to be established. So the way I see it, there are two choices. We can establish them on our terms (i.e.: the tiny standing army we have now, which is primarily designed to coordinate state militias), or we can just wait until they gain a victory, and suddenly they get what they want on their terms (i.e.: a full-scale Bank of the United States).
My primary duty is to my constituents, not to this party. I stepped up to serve as Chair because, well, I was like the only person here. I've now established a charter for the party, and helped it to establish itself well publicly this year, and I consider those good accomplishments for the first chair. But with new elections coming, and with me clearly staking out a moderate course, Brandt might be correct in suggesting someone else should take the role. I am in fact happy to permit that.
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Bank
Jun 19, 2014 14:43:12 GMT -5
Post by bubba on Jun 19, 2014 14:43:12 GMT -5
The national bank cannot regulate anything. This is not the federal reserve, its a weakened Bank of the United States. I'm not asking anyone here to support this, though. Feel free to oppose it to your heart's content. I'll respect your opposition, so long as you're respectful in it. The Republican Party does oppose a national bank, and it does oppose a standing army. But the majority of Americans favor these things (notice that the nation's mood is liberal), and most federalists and independents favor these things. They're going to be established. So the way I see it, there are two choices. We can establish them on our terms (i.e.: the tiny standing army we have now, which is primarily designed to coordinate state militias), or we can just wait until they gain a victory, and suddenly they get what they want on their terms (i.e.: a full-scale Bank of the United States). My primary duty is to my constituents, not to this party. I stepped up to serve as Chair because, well, I was like the only person here. I've now established a charter for the party, and helped it to establish itself well publicly this year, and I consider those good accomplishments for the first chair. But with new elections coming, and with me clearly staking out a moderate course, Brandt might be correct in suggesting someone else should take the role. I am in fact happy to permit that. I just dont liek this at all, you should resign and Im glad youve done this your not a good fit for the republican party i dont think. have you thought about switching?
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Bank
Jun 19, 2014 14:47:08 GMT -5
Post by surratt on Jun 19, 2014 14:47:08 GMT -5
The national bank cannot regulate anything. This is not the federal reserve, its a weakened Bank of the United States. I'm not asking anyone here to support this, though. Feel free to oppose it to your heart's content. I'll respect your opposition, so long as you're respectful in it. The Republican Party does oppose a national bank, and it does oppose a standing army. But the majority of Americans favor these things (notice that the nation's mood is liberal), and most federalists and independents favor these things. They're going to be established. So the way I see it, there are two choices. We can establish them on our terms (i.e.: the tiny standing army we have now, which is primarily designed to coordinate state militias), or we can just wait until they gain a victory, and suddenly they get what they want on their terms (i.e.: a full-scale Bank of the United States). My primary duty is to my constituents, not to this party. I stepped up to serve as Chair because, well, I was like the only person here. I've now established a charter for the party, and helped it to establish itself well publicly this year, and I consider those good accomplishments for the first chair. But with new elections coming, and with me clearly staking out a moderate course, Brandt might be correct in suggesting someone else should take the role. I am in fact happy to permit that. I just dont liek this at all, you should resign and Im glad youve done this your not a good fit for the republican party i dont think. have you thought about switching? This is something that you could have asked in PM. Highly inappropriate for this thread. Guys this is one issue.
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Bank
Jun 19, 2014 14:50:31 GMT -5
Post by bubba on Jun 19, 2014 14:50:31 GMT -5
I just dont liek this at all, you should resign and Im glad youve done this your not a good fit for the republican party i dont think. have you thought about switching? This is something that you could have asked in PM. Highly inappropriate for this thread. Guys this is one issue. how is this not apropriate? he wants a moderate position when we cannot be moderate. my fellow americans i didnt come outta the swamps of french louisiana so that i could be trampled by a lukewarm person. we must be strong in our beliefs as republicans!! if we are just a lukewarm version of the federalists then we should pack our bags and head home!
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Bank
Jun 20, 2014 9:24:42 GMT -5
Post by terrus on Jun 20, 2014 9:24:42 GMT -5
Chapter 4. Bank of the United States. Section 13. Regional Banks. (a) Establishment. There is hereby established -- 1. a Bank of New England, to be headquartered in Boston, Massachusetts, which shall act as a bank for a region encompassing Massachusetts, Rhode Island, New Hampshire, Vermont, and Connecticut; 2. a Bank of Hamilton, to be headquartered in Philadelphia, Pennsylvania, which shall act as a bank for a region encompassing New York, New Jersey, Pennsylvania, and the NorthWest Territory; 3. a Bank of Washington, to be headquartered in Baltimore, Maryland, which shall act as a bank for a region encompassing Delaware, Maryland, and Virginia; and 4. a Bank of Columbia, to be headquartered in Charleston, South Carolina, which shall act as a bank for a region encompassing North Carolina, South Carolina, Georgia, and the SouthWest Territory.
(b) Board of Superintendents. Each Bank will originally be governed by a Board of Superintendents, comprised of a single Superintendent appointed by each state within that bank's region, two Superintendents representing a quorum, and this Board shall select a President from amongst its members to serve as chief executive of the bank, and shall oversee the Bank's operation until it obtains $100,000 in gold and silver from stockholders, at which point the President will oversee the election of a Board of Directors by the stockholders.
(c) Board of Directors. Each Bank will be governed by a Board of Directors, which shall -- (1) be comprised of seven members, each elected every January 1st by the stockholders, each stockholder possessing one vote per share; (2) be comprised only of United States citizens that are shareholders; (3) elect from amongst its members a President, who shall superintend the operations of the bank, hiring such employees and proscribing such policies as may be necessary for its success; (4) meet regularly with four Directors representing a quorum; and (5) with the approval of the stockholders, develop a Charter for the Bank, approved by the United States, but this Charter shall expire on December 31st, 1816, unless renewed by Congress before December 31st, 1812.
(d) Incorporation. The governing board of each bank shall form a corporation with its own seal, and such corporation shall -- (1) possess the authority to sue and be sued, plead and be imp leaded, answer and be answered, defend and be defended, in courts of record, and any other place whatsoever; (2) possess the authority to buy, sell, grant, demise, alien, or dispose of lands, rents, tenements, hereditaments, goods, chattels, and effects of any kind; (3) hold lands, tenements, and hereditaments only as necessary for its immediate accommodation and in relation to the convenient transacting of its business; and (4) act as the only bank sponsored by a government within its region.
(e) Stock. Each Bank shall issue paper stock, provided that each bank shall -- (1) sell a maximum of 10,000 stares of shock at $250 each for a total of $2,500,000; (2) sell no more than 1,000 shares to any individual, partnership, or body politic; (3) sell 2,000 shares immediately to the United States government, granting the United States a loan to cover the cost of such purchase; (4) accept payment for these shares only in gold, silver, or debt bonds, but at least $62.50 of each share will be paid in gold or silver; and (5) pay dividends to shareholders at $5 per share every six months, provided that dividends be paid in gold, silver, or debt bonds, but at least $1 of each dividend will be paid in gold or silver.
(f) Stockholders. The stockholders of each bank may call for a public meeting anytime the holders of 1,000 shares of stock agree to it, and may remove and replace any director by a 2/3 vote.
(g) Powers and Restrictions. Each Bank may -- (1) never possess more than $3,750,000 in commodities including profits from sales of stock; (2) never possess an amount of debt exceeding the amount deposited at the bank plus $10,000,000; (3) never buy debt bonds; (4) sell debt bonds at its discretion; (5) not charge more than 6% interest on loans or discounts; (6) not trade in anything except bills of exchange, gold and silver bullion, or in the sale of goods really and truly pledged for money lent and not redeemed in due time, or of goods which shall be the produce of its lands; (7) make loans to foreign governments or monarchs only with the consent of the Department of Foreign Affairs; and (8) not establish branch locations, but instead contract with credit unions and private banks to provide branch services through such institutions.
(h) Oversight. Each Bank shall provide annually to the Treasurer of the United States a comprehensive financial statement.
Section 14. Bank of the United States. (a) Establishment, Charter. There is hereby established a Bank of the United States, the charter of which shall expire on December 31st, 1816 unless the charter is renewed by an act of Congress before December 31st, 1812, each renewal being for a period of twenty-five years.
(b) Board. There shall be a Board of Directors of the Bank of the United States, which shall be -- comprised of the President of each regional bank, along with a Chairman to serve as chief executive of the Bank of the United States, and this Chairman shall be appointed by the President with the advice and consent of the Senate for five year terms.
(c) Powers and Restrictions. The Board may -- (1) hire such employees and proscribe such policies as may be necessary for its success; (2) issue directives to each regional bank regarding the operations of those banks; (3) at its discretion assume moneys from each regional bank, and make loans with these moneys, but only for specific purposes, and where the Board determines it to be prudent for the national bank to do so instead of the regional bank; and (4) never buy debt bonds; (5) sell debt bonds at its discretion; (6) not charge more than 6% interest on loans or discounts; (7) not trade in anything except bills of exchange, gold and silver bullion, or in the sale of goods really and truly pledged for money lent and not redeemed in due time, or of goods which shall be the produce of its lands; (8) lend up to $100,000 to the federal government, and up to $50,000 to each state; (9) make loans to foreign governments or monarchs only with the consent of the Department of Foreign Affairs; (10) not establish branch locations, but instead provide branch services via the regional banks; and (11) not make loans, or assume amounts, in such a way as to defeat the purpose of Section 13(g)(1) and 13(g)(2) of this Chapter.
(d) Headquarters. The Bank of the United States shall be headquartered in New York City.
Section 15. Currency and Debt of the United States. (a) The Bank of the United States shall have the sole power to issue the currency of the United States but all currency issued by the bank must be completely backed by specie, gilts of the United States, or gilts of other nations at the discretion of the Board of Directors, and any currency issued by the Bank of the United States shall be redeemable on demand for specie or gilts of the United States.
(b) The Bank of the United States shall issue $10,000 in currency initially but may issue further currency, and replenish that currency, at the direction of the Board of Directors.
(c) The Bank of the United States shall issue currency through the regional banks, and organize such issuing at its discretion.
(d) The Treasurer of the United States shall deposit any unused funds of the United States in the Bank of the United States.
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Bank
Jun 20, 2014 9:27:21 GMT -5
Post by brandt on Jun 20, 2014 9:27:21 GMT -5
I will be voting against this
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Bank
Jun 20, 2014 9:28:00 GMT -5
Post by terrus on Jun 20, 2014 9:28:00 GMT -5
That's quite acceptable. I'm sure some Federalists will, too. Or NDs, I guess.
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Bank
Jun 20, 2014 9:35:00 GMT -5
Post by brandt on Jun 20, 2014 9:35:00 GMT -5
No I am quite confident the Federalists will rally in full support of this bill, it is more in keeping with their party ideology than our own.
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