Volume 2 - ElectricCanadian.com

402 HISTORY OF THE BANKliabilitycondition, against which most of the argument wasdirected. It was held that it would prevent people of considerablemeans from taking stock in the banks; the directors,having inside information as to the financial condition of thebank, would be able to sell out their shares in case of troubleand thus protect themselves, and only the impecunious shareholderswould be left to face the burden. Thus the measurewould defeat its own object.In the meantime the Bank of Montreal had received anextension of its charter, with various amendments, in 1830. 1In this, as in the charters of the two banks in Upper Canada,the chief new feature was the increase of detail required inthe returns to the legislature. The lines followed by theserequirements were also American in origin, but the returnsdiffered considerably in detail from those of Upper Canada.The chief items were as follows:1. Capital paid in.LIABILITIES.2. Notes in circulation.3. Net profits in hand.4. Balances due to other banks.5. Cash deposited in the bank, specifyingbearing interest, ifany.the amountRESOURCES.1. Current coin and bullion.2. Value of buildings and other real estate.3. Notes of other banks.4. Balances due from other banks.5. The total amount of debts due to the corporation,particularizing the amount due on bills of exchange,discounted notes, mortgages, and other securities.'lO-ll Geo. IV. 1830. c. vi.