A bank with general banking powers may undoubtedly borrow money,1 but sometimes the statute forbids the borrowing of money payable at a future day certain.2 A national bank may borrow money in order to loan it out again at a higher rate of interest than it v. Sherbourne, 14 Bradw. 566; Smith v. Exchange Bank, 26 Ohio St. 141; Nicholson v. State Bank, 92 Ky. 251. Bank may purchase interest coupons (First Nat. Bank v. Bennington, 16 Blatchf. 53); or a check (First Nat. Bank v. Harris, 108 Mass. 514); or a draft (Union Nat. Bank v. Rowan, 23 S. C. 339).

4 John v. Farmers' Bank, 2 Blackf. 367.

5 Planters' Bank v. Sharp, 6 How. 301; Marvine v. Hymers, 12 N. Y. 223; Robb v. Ross Co. Bank, 41 Barb. 586.

6 Crocket v. Young, 1 Smedes & M. 241. See next section.

7 Dabney v. State Bank, 3 S. C. 124.

8 Mclntyre v. Ingraham, 35 Miss. 25. The opinion, beyond being an excellent specimen of state rights, ante bellum balderdash, is chiefly remarkable for speaking of the United States Supreme Court as

"she! " This is the court that Sargent S. Prentiss was wont to call the Court of High Errors and Appeals.

9 See James v. Rogers, 23 Ind. 451; Safford v. Wyckoff, 1 Hill, 11.

10 Rockwell v. Elkhorn Bank, 13 Wis. 731.

11 Rockwell v. Elkhorn Bank, supra.

1 Tuttle v. National Bank of Republic, 48 111. App. 481. This opinion cites a work called "Aloise on Banking." Ringling v. Kohn, 6 Mo. App. 333; Donnell v. Lewis Co. Sav. Bank, 80 Mo. 165; Leavitt v. Yates, 4 Edw. Ch. 134; Barnes v. Ontario Bank, 19 N. Y. 152; Ward v. Johnson, 95 111. 215. A rediscount is not a borrowing, even if the bank indorses. It is a sale. National Bank v. First Nat. Bank, 79 Fed. R 296.

2 Commonwealth v. Bank of Mutual Redemption, 86 Mass. 1.