and silver coin in England, 105, 106;
in France, 113;
Canada, 133

Incorporation, 7;
should be required, 66

Independent treasury system, 75-78

Inflation, 49-53, 56-59;
of credit, 87

Inspection of banks, 59, 60

Insurance, mutual of depositors, 60, 62

Investment, banking, 136-170;
commercial paper, 41, 42;
confined to liquid securities, 52;
defects in machinery, 166;
improvement of machinery, 170;
paper, 18, 35, 41, 55;
of surplus funds, 3

Italy, land banks, 162, 163

Joint-stock mortgage banks, 169;
English joint-stock banks, 106;
German, 151-159

Kansas "blue sky laws," 146

Land banks, 147-163

Letters of credit, 21

"Line" of credit, 16, 85, 86

Liquidation, forced, 19, 88;
of credits, 49, 50;
protection against, 52

Liquid securities, 53

Loan operations, 85-88

Loans, 2, 3, 15, 86;
and discounts, selection of, 40-43;
Canadian system, 128, 129;
fluctuations, 97;
German land bank, 147-162;
in the interest of big business, 167;
limits to, 52, 55;
long-term, 2;
pernicious practice of national banks, 83;
and reserve system, 95;
short term, 2

Local banking, 62, 63

London stock exchange, 165

Mints, 5

Monetary commission, 97, 98

Money of the United States, 95

Mortgage banks, 169;
France, 160-162;
Germany, 148-163;
Italy, 162;
mortgage bonds, 169;
mortgage loans, long period, 167

Municipal banks, 139

National banks, 8, 9, 54, 70-75, 80, 82;
federal reserve, 98, 99;
money in vaults, 91;
notes, 96;
pernicious loan practices, 83;
subscribed to federal reserve banks, 98

National Reserve Association, 98

New York City, assay office, 81;
central reserve bank, 78;
clearing center, 24, 80, 81;
stock exchange, 81, 82, 92, 165

Notes, bank, 19-21;
central banks of Europe and supply of, 102;
Canadian, 126-133;
bank of England, 105;
of France, 117, 118;
of Germany, 121;
issue of, 19-21;
issue privileges, 37, 38;
government, 39;
limitation of issue, 58;
promissory notes, 43;
regulations regarding, 52;
safeguarding issue, 56;
volume of United States, 96

Oklahoma, mutual insurance plan, 60

Overdrafts, 16

"Panicky" conditions and feeling, 94, 95, 97

Par of exchange, 31, 32