VI. All the remaining paper to be called in (at the option of the
possessor), and bank notes issued in lieu of them, for so much
sterling, payable to the bearer in three months from the date, at two
per cent. per annum interest. A pound sterling to be estimated at
two hundred and sixty-six and two-thirds of the present dollars.[9]
The interest to be punctually paid in specie at the end of the three
months; when it shall be at the choice of the possessor to have the
bank notes renewed, or to receive the sum deposited, in the old paper.
VII. All the money issued from the Bank, to be of the same
denomination, and on the same terms.[10] VIII. The Bank to furnish
Congress with an annual loan of two millions sterling, if they have
occasion for it, at four per cent. interest.
IX. The whole, or such part of the stock as is judged necessary, to be
employed in commerce, in the manner, and on the terms, which shall be
agreed upon, from time to time, between the Company, and a Board of
Trade to be appointed by Congress.
X. The Bank to issue occasionally, by permission of Congress, such
sums as may be thought safe and expedient, in private loans, on good
securities, at six per cent. interest.
XI. The Government to share half the whole stock and profits of the
Bank.
XII. The Bank to be managed by the trustees of the Company, under the
inspection of the Board of Trade,[11] who may have recourse to the
Company books whenever they think proper, to examine the state of its
affairs. The same is done in England, and in other countries where
Banks are established, and is a privilege which the Government has a
right to demand for its own security. It is the more necessary in this
case, from the commercial nature of the Bank.