The Bank and the Treasury: Bank Capitalization and the Problem of Elasticity

accounts amount average bank member bank notes bank-credit bank-notes bankers banking capital bill capital stock capital-resources cash cash-reserve cent centum per annum circulating notes collateral commercial assets commercial banks commercial paper commercial-credit Comptroller contraction credit-accounts credit-issues credit-money currency notes current funds customers depositors deposits Division of Issue dollars elasticity exchange fluctuations gold coin guarantee guaranty fund held hereby house of issue hypothecation increase insolvent interest invested-reserve investment Issue and Redemption lawful money legal-tender liabilities lien liquidation loans meet ment money supply money-demands money-reserves National Bank Act national banking association national clearing house national-bank needed notes issued obligations obtain paid-up par value payment practice present protect purchase purpose receive redeemed redemption equipment reserve agents reserve cities Secretary SECT securities Senate silver certificates sound speculative surplus ticity tion Treasury notes unimpaired capital United States bonds United States notes United States Treasury