national

[Fr., from nation =nation (q. v.); Sp. nacional; Ital. nazionale. First used at the Westminster A embly. ( Collect. Scarce Tracts (ed. Sir W. Scott), vii. 91.)] 1. Of or pertaining to a nation, as distinguished from private or individual; public, general. "Are they utterly carele of the national character?" -London Daily Telegraph. 2. Attached to one's country; devoted to the in. terests of one's own nation. "A thoroughly national and popular sovereign."-Lon. don-Daily Telegraph. national-air, s. Music: An air or tune characteristic of or pecul iar to a particular nation or people; specifically applied to an air or tune which is adopted as that to be played on state of public occasions; as, in this country, "Hail! Columbia;" France, the Marseillaise," and in England, "God Save the Queen (or King). Also called a national anthem. national-anthem, s. [NATIONAL-AIR.] sum. National A embly, s The Legislative A embly in France. When the nobility and clergy summoned with the Tiers Etat to the States-General declined to sit with the commons, these, declaring, on June 17, 1789, that they represented parts of the nation, a umed the name of the National As sembly, though the name Constituent A embly is more frequently employed. National Bank, s. A National Bank is an a ociation composed of not le than five natural persons, authorized to conduct a banking busine under the laws of the United States and the supervision of the Comptroller of the Currency, with a capital stock of not le than $50,000, divided into shares of the par value of $100 each. The busine of a National Bank is managed by a board of directors, composed of not le than five persons, elected annually by the shareholders, each shareholder having one vote on each share of stock owned by him. The board of directors elect or appoint a president, vice-president, cashier, and other officers of the bank, and define their duties. Shareholders are individually responsible for all contracts, debts, and engagements of such a ocia tion, and are liable to the par value of their stock, in addition to the amount invested therein. The total liabilities to an a ociation of any person, company, corporation or firm, for money borrowed, are limited to one-tenth of the capital stock actually paid in. National Banks located in the central reserve cities of New York, Chicago, and St. Louis are required to keep on hand at all times, in lawful money, twenty-five per cent. of their net deposits, with the privilege of acting as reserve agent of any bank located outside of these three cities. Banks located in the reserve cities, other than the three named, are required to keep twenty-five per cent. of their net deposits on hand, not more than one-half of which may be deposited with any National Bank located in either of the three central reserve cities, and the remainder must be actually on hand in lawful money. All other banks are required to maintain a reserve fund equal to fifteen per cent. of their IMG:content-1577.png:[blocks in formation]