Variant II

Ex. I Read and translate the text:

When the new Unites States government was established in 1789, many of its leaders favored the creation of a national bank. Alexander Hamilton, secretary of the treasury, thought such an instruction would strengthen the new government politically and promote its economic growth. Few state incorporated banks that existed then had meager resources and were too isolated to handle the financial operations of the new government. Merchants and traders also needed additional banking facilities. So the charter was granted, and the bank opened in Philadelphia in December 1791. The first bank of the USA had a capital of $10 million. The bank was authorized to issue notes, make loans, and hold deposits. It had eight branches in important commercial cities.

The bank issued notes that were accepted in all payments to the United States, and the public regarded them as good as gold. The bank handled payments of the public debt for the Treasury, received subscriptions for new issues of government securities, and paid the salaries of public officials. It kept state-incorporated banks from issuing excessive amount of notes which they might not be able to convert into coin. But many people still opposed the bank. Its charter was not renewed and the bank ceased to exist in 1811.

2. Translate the following words and expressions:

establish, establish relations/links/contact etc (with sb), to favour, favour sb/sth over sb/sth, incorporated, meager, meagre income/earnings/wages etc, charter, to authorize, authorize somebody to do something, to regard, regard somebody/something as something, isolated, subscription, security, securities, to oppose, to cease

3. Match the words in Column a with their definitions in Column b.

A	B
establish	to give official permission for something
to favour	to stop doing something or stop happening
incorporated	to disagree with something such as a plan or idea and try to prevent it from happening or succeeding
meagre	a statement of the principles, duties, and purposes of an organization
charter	is too small and is much less than you need
to authorize	stocks or shares in a company
to regard	to prefer someone or something to other things or people, especially when there are several to choose from
isolated	used after the name of a company in the US to show that it has become a corporation
subscription	an amount of money you pay, usually once a year, to receive copies of a newspaper or magazine, or receive a service, or the act of paying money for this
securities	to start a company, organization, system, etc that is intended to exist or continue for a long time
to oppose	is far away from any others
to cease	to think about someone or something in a particular way