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TeachMeFinance.com
Baltimore Plan -- an early housing plan implemented in 1944 to upgrade and maintain inner city housing standards. It included building, zoning, fire protection, and housing laws; a citizens' advisory council; a housing bureau in the health department; rodent control and sanitation. The plan was enforced by a special housing court. The Baltimore Plan was a model and an example to other cities trying to solve similar urban problems.
historic definition...
Baltimore plan -- The name applied to a plan presented at
and approved by the convention of the American Bankers'
Association in Baltimore in 1894, wherein it was proposed to
repeal the requirement in the National bank act for the deposit
of government bonds in the Treasury to secure circulation
(national bank notes) ; to allow banks to issue notes to the
extent of one-half their paid-up and unimpaired capital, these
notes to be subject to an annual tax of 1-2 of I per cent; and
to allow banks to issue "emergency circulation" to the extent
of 25 per cent additional, the additional circulation to be subject
to a heavier tax. A guarantee fund of 5 per cent was to
be established by the banks to be held by the Treasury for
the redemption of notes, and circulation was to be a first lien
upon the assets and upon the liability of stockholders of banks,
which liability is for an amount equal to and in addition to the
par value of the stock owned by stockholders.
About the author
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Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".
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Copyright © 2005 by Mark McCracken, All Rights Reserved.
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