Tram V4 Icon
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The property necessary for realisation of the purposes of corporation, under the price,
Established by court if the parties do not come to the agreement; the such power
It is peculiar to the governments and the licensed corporations], and banks - issues
Folding money under own credit resources. [The short description of mania
Establishments of banks and consequences of very weak control over issuance of bank notes
See: Charles Arthur, "Banks and Banking: United States", Encyclopaedia
Britannica, 11th ed., vol. 3. More in detail about it see: Fritz Redlich, The
Moulding of American Banking (New York: Johnson Reprint Corporation, 1968),
chap. 3; and Bray Hammond, Banks and Politics in America from the Revolution
to the Civil War (Princeton: Princeton University Press, 1957).] All
Corporations, except for banks, were public institutions and in that,
That on them the responsibility to serve all clients without discrimination lay.
Some, like transcontinental railways, received the essential
Government grants in the form of free tap of the earth.
The licensed corporations not necessarily were monopolies, but many from
Them (as water and the first tram) were monopolies under the charter or on
Business. Till now corporations in these spheres cannot be created on a basis
Simple registration. Certain regulating agencies should state judgement on
To each offer on creation of the licensed company, though practice
Acceptances about it special acts has died off.
Undoubtedly that the economic reason for use of corporate forms
At building of channels and railways there was a requirement for accumulation
Very big capital, but economic reasons appear rather
Unimportant in the light of that fact that the large part of such corporations
Simply could not act, without having the right to compulsory alienation
The earths, and the governmental decree is necessary for acquisition of this right. To
To example, neither railway, nor the water channel companies could not begin
Works, if each land owner which plot has appeared on a line
Structures, had the right to refuse sale of the earth or to break
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