A private borrower pays for the use of the money, and similarly the debt of the United States is largely interest-bearing. The notes called "greenbacks" bear no interest, because, being legal tender, they circulate as money, as do also the gold and silver certificates of deposit.
HOW NATIONAL BANKS ARE ESTABLISHED.
Organization.—Associations for carrying on the business of banking may be formed by any number of natural persons not less than five. A signed and certified copy of the articles of association is forwarded to the comptroller of the currency; also a certificate giving the name of the association, its place of business, its capital, the number of shares and their owners.
Capital.—The minimum capital required is: in cities of less than 6000 inhabitants, $50,000; less than 50,000 inhabitants, $100,000; others, $200,000.
Powers.—Such associations have the usual corporate and banking powers. In addition, they may issue their notes to circulate as currency on the following conditions: Upon depositing with the U. S. Treasurer registered bonds of the United States, to an amount not less than $30,000 nor less than one-third of its capital, the bank receives from the comptroller of the currency blank notes of face value not to exceed ninety per cent of the par value of the bonds. These notes, after being signed by the president and the cashier of the bank, may circulate as money, but are not legal tender for private debts.
HOW TO OBTAIN A COPYRIGHT.
[By A. R. Spofford, Librarian of Congress]
Every applicant for a copyright must state distinctly the name and residence of the claimant, and whether right is claimed as author, designer, or proprietor. No affidavit or formal application is required.
A printed copy of the title of the book, map, chart, dramatic or musical composition, engraving, cut, print, or photograph, or a description of the painting, drawing, chromo, statue, statuary, or model or design for a work of the fine arts, for which copyright is desired, must be sent by mail or otherwise, prepaid, addressed, "Librarian of Congress, Washington, D.C." This must be done before publication of the book or other article.
A fee of 50 cents, for recording the title of each book or other article, must be inclosed with the title as above, and 50 cents in addition (or one dollar in all) for each certificate of copyright under seal of the Librarian of Congress, which will be transmitted by early mail.