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system, by means of branches or inter-corporate relations, 52. The

decision in favor of a few branches in principal centers, and its conse-

quences, 56.

Increase of banks and banking capital after 1789, 59. The Providence

Bank, 60. The New Hampshire Bank, 63. Connecticut banks at Hart-

ford, New London, and New Haven, 63. Prosperity and criticisms of

the Massachusetts Bank, 65. Resulting attempts to tax it, to modify

its charter, and to establish a state bank, 68. The Boston Tontine

Association, 70. It becomes the Union Bank, 72. Relations with the

state, 74. Its early policies and practices, 75. The Essex Bank in

Salem, refused a charter, operates without one, 78. Virginia banks, at

Alexandria and Richmond, 78. The Bank of South Carolina, unincor-

porated until 1801, 80. The Bank of Albany, 80. The “bancomania”

in New York City (1792), 81. Hamilton's relations, while Secretary

of the Treasury, with the Bank of New York, 91. The Bank of Penn-

sylvania, the principal example of a state bank before 1800, 95.

Other banks chartered after 1792: Banks of Columbia at Hudson,

N. Y., and the new federal district, 97. The Bank of Baltimore, 97.

Massachusetts institutions at Salem, Nantucket, Newburyport, Port-

land (Maine), and Gloucester, 98. Rhode Island banks at Newport,

Bristol, and Westerly, 99. Connecticut charters for Middletown and

Norwich banks, 100. The Bank of Delaware, 100. The Manhattan Com-

pany's charter and bank, 101. Other attempts to establish banks, 101.

General considerations: naturalization of the bank in New England,

102; banking conducted largely by incorporated institutions, 102; bank

capitals and dividends, 103; charter provisions, 105; state participation

in banking, 107. Conclusion, 108.

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Insurance business in eighteenth century America, — life, 231;

marine, 232; fire, 234. Table of insurance company charters, 235.

The first corporation, the mutual Philadelphia Contributionship, char-

tered, 235. Other mutual fire insurance companies after the Revolu-

tion, 236. The Baltimore joint stock company and its successor, 238.

The Universal Tontine develops into the Insurance Company of North

America, 239. Rival joint stock companies chartered in Philadelphia,

Baltimore, and New York, 242. The Massachusetts Fire, becoming

the Massachusetts Fire and Marine, and its competitor, the Boston

Marine, 242. Other companies in New England, 244. Distribution

and size of the insurance companies, 245. Their relations with banks,

245. Charter features, 246.

Water supply companies in colonial days, 247. Abortive schemes

and unincorporated associations after the Revolution, 248. The Balli-

more Water Company charter inoperative, 248. Table of charters, 250.

Massachusetts leadership, 250. The Boston Aqueduct Corporation,

251. The Manhattan Company's charter and insignificant accomplish-

ments, 252. Minor concerns, 252. Distribution and ill-success of water

companies, 253. Characteristics of their charters, 254.

Manufacturing in the household stage or the domestic system, 255.

Scale of operations, 256. Associations of tradesmen or to promote

manufactures, 257. Unincorporated joint stock manufacturing com-

panies appealing to various motives, 258. A New York iron company,

260. The Boston Duck or Sail Cloth Manufactory, and others, 260.

The Boston Glass Manufactory and others, 262. Activities of the

Pennsylvania Society, 264. The Hartford Woollen Manufactory, 266.

Other unincorporated joint stock companies, 267. Table of charters to

manufacturing corporations, 269. The peculiar Company of the Con-

necticut silk manufacturers, 269. The Beverly Cotton Manufactory, 270.

The New York Manufacturing Society, 275. The New Jersey "S.U.M.”

275. The Newburyport Woollen Manufactory, 277. A Massachusetts

calico printing company, 278. The Hamilton Manufacturing Society,

278. The Salem Iron Factory Company, 279. Reasons for the failure of

manufacturing corporations, 279.

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