Bank acceptance, form, 120
Bankers' bills, 240
Bank notes, national, 28; meth-
ods of regulating, 47; of state
banks taxed, 48; inelasticity,
49-52; of state banks, 140-146;
national, see National Bank
Notes; of Reserve banks, 52,
402
Banks, origin, 127; early private,
128; Bank of Venice, 128;
Bank of Amsterdam, 129;
Lombard's, 130; Bank of Eng-
land founded, 131; Bank of
North America, 133; First
Bank of United States, 135;
Second Bank of United States,
137; Suffolk Bank, 140; safety
fund system, 141; free bank-
ing system, 143; State-owned,
145-147; savings, see Savings
banks; commercial, functions
of, 153; farm loan banks, 156;
national banking system, 160-
162; administration of, 172;
bookkeeping, 191-195; loans,
255; credit department, 282;
examinations, 288; failures,
292; English system, 315-323;
Scotch system, 323; French
system, 324-327; German sys-
tem, 327-331; Canadian system,
331-338; see also National
banking system, Federal re-
serve system, Farm loan banks
Barter, 2
Bills of exchange, domestic, 113,
223; foreign, see Foreign ex-
change, also Acceptances
Bills of lading, 115, 248, 263;
federal law, 264
Bimetallism, defined, 16; advan-
tages, 19; limitations, 20;
adopted by United States, 25;
abandoned, 32
Bland-Allison Act, 31
Book accounts, 105; abuses, 107;
ás collateral, 260
Borrower's statement, 258, 281
Branch banking, in foreign sys-
tems, 323, 326, 328, 335; of Re-
serve and national banks, 166,
395
Broker, note, 275; member banks
as, 431
Bureau of Labor, price tables of,
84, 85
Call loans, 268
Canadian banking system, 331-
338
Cashier, duties of, 179
Checks, 122; certified, 119, 183,
271; traveler's, 247; clearing
and collection of, 219, 419
Circulation statement of U. S.
Treasury, 54
Clayton Act, 175
Clearing house, 209; New York,
weekly statement, 273; loan
certificates, 346; operations of
Federal reserve banks, 421
Coinage, evolution of, 10-12;
United States system adopted,
25; laws revised, 29, 31, 32
Collateral loans, 190, 260
Collections, and note teller, 189;
foreign, 216; under Federal
reserve system, 219, 419-427
Commercial paper, and note
broker, 275-282; defined by
Reserve Board, 385
Commodity, paper, 263,
rates, 266
Comptroller of Currency, head
of national banking system,
166; members of Federal Re-
serve Board, 376
Cooke, T., on guaranty of bank
deposits, 207
Credit, definition, 3; currency,
39-53; nature of, 98; classes
of, 99-103; instruments .of
commercial, 108-115; banking,
116; effect of, on prices, 123;
letter of, 115; rural, 156; de-
partment of banks, 282-284;
elements of, 285
Currency, movements, 224; bank,
46; see Paper currency
Deposit currency, 51, 118
Deposits, bank, 187; kinds and
sources of, 196; interest on,
200; guaranty of, 204; sav-
ings and time, defined, 412
Directors, duties of bank, 176;
Reserve bank, 372
Discounts, see Loans
Dollar, adopted as unit, 25;
Spanish, 26; trade, 29; "com-
pensated," 93; credits, 253
Drafts, bank, 119; commercial,
113, 222-223
Economist, index numbers of, 83,
85
Elasticity, of bank currency, 49;
of French notes, 326; of Ca-
nadian bank notes, 332; Fed-
eral reserve notes, 399-405
Emergency currency, 47; under
German system, 330; under
Canadian system, 332; of na-
tional currency associations,
356; issued under Aldrich-
Vreeland Act, 358
English banking system, 315-323
Equation of exchange, 74
Examination, of banks, 288-292
Exchange, see Foreign exchange
Farm loan banks, 156
Federal Farm Loan Act, text of,
477-505
Federal Reserve Act, provisions
of, analyzed, 371-437; text of,
as amended, 441-476
Federal Reserve Board, how com-
posed, 376; powers of, 376-378
Federal reserve notes, elasticity,
52, 402; how issued, 63, 403,
406; how retired, 405
Federal reserve system, created,
356; management, 372; plan of
electing directors, 374; pow-
ers of Reserve Board, 376; Ad-
visory Council, 378; functions
and resources, 379; distribu-
tion of earnings, 382; redis-
counting under, 384-388; open
market operations, 388-397;
foreign branches permitted,
395; regulation of gold move-
ments, 397-399; note issues,
399-409; reserves mobilized,
411-419; clearings and collec-
tions, 419-427; relation to
Treasury, 427; new powers of
national banks as members,
429-432; state bank members,
Fiat currency, 42; dangers of,
Finance bills, 230, 241, 321
First Bank of the United States,
135
Fisher, Irving, on the "compen-
sated dollar," 93-97
Foreign exchange, principles,
227; supply and demand of,
228-231; rates, 231-233; cor-
rectives of, 233-235; forms of,
236; bill of, 238; finance bills,
241; arbitraging, 243; letters
of credit, 244-251; depart-
ments, 251; under Federal re-
serve system, 252, 390; de-
ranged by European war, 360-
362
Free banking system, 143
Free silver controversy, 30, 34
French banking system, 324-327
Futures, dealing in, 244
German banking system, 327-331
Gold, not stable in value, 9;
weight of, dollar, 17; weight
and fineness reduced, 27; re-
serve of Treasury threatened,
32-34; stock of, 55; certifi-
cates, 39, 60; price of, 68; de-
mand for, 69-72; changes in
world's stock, 73, 76; future
supply, 77; international move-
ments of, 235, 350, 398;
points, 232; reserves against
Federal reserve notes, 403,
407; pool to reestablish for-
eign exchange in 1914, 361
Gold exchange standard, 22
Gold Standard Act, 34, 44
Gold settlement fund, 225, 421
Greenbacks, see United States
Gresham's law, 18-19
Guaranty of bank deposits, 204
Imperial Bank of Germany, 327-
330
Independent Treasury system, es-
tablished, 140; relation to na-
tional banks, 167; and domes-
tic exchange, 226; clumsy and
wasteful, 351; relation to Fed-
eral reserve system, 427-429
Index numbers, 79-87; and price
tables, 82; comparison of vari-
ous tables, 85
Indiana, State bank of, 145
Indianapolis Monetary Commis-
sion, 34
Inelastic currency, 49, 340
Inflation, 30-32, 43; safeguards
against in Federal reserve sys-
tem, 399, 404
Insurance functions, of trust com-
panies, 300; of national banks,
431
Joint stock banks, of England,
320
Letters of credit, 122, 244; com-
mercial, 247
Loans, 255-285; on real estate,
166, 264; how made, 257; col-
lateral, 190, 260; call, 268-270
Medium of exchange, 8, 13, 14, 70
Metallic money, 6; of United
States, 55-60; see Gold, Silver
Mint, colonial 11; ratio of gold
and silver, 17; par of exchange,
232
Money, evolution of, 5-7; func-
tions of, 13-16; kinds of, in
United States, 54; value of, see
Value of money; quantity the-
ory of, 74-77; 'effect of changes
in purchasing power, 89-90; see
Gold, Paper currency, Bank
notes
Moratorium, 357
Multiple standard, 90-92
National bank notes, amount
outstanding, 62; at par with
gold, 69; not legal tender, 162;
redemption of, 162; profit on,
163; inelastic, 340; to be re-
tired under Act of 1913, 400,
402
National banking system, leading
features, 160; defects, 340-354
National currency associations,
346, 356
National Monetary Commission,
354
Note broker, 275-279
Numerical transit system, 217
Ohio, State bank of, 146
Oklahoma, law of guaranty of
bank deposits, 204
Open market operations, of Eu-
ropean banks, 321; of Federal
reserve banks, 348, 388, 397
Organization Committee, Federal
reserve system, 371; work of,
in selecting districts and
banks, 363-370
Organization, of national banks,
168; of Federal reserve banks,
363
Paper currency, early, 37; clas-
sification, 38-39; credit, 39;
advantages and disadvantages,
41, 44-46; national bank notes
and Reserve bank notes inelas-
tic, 49-52, 340, 400; kinds of,
in United States, 60-67
Paper standard period, 28
Par, of exchange, 231; all kinds
of United States money on par
with gold, 64-66; par collec-
tions, 219, 419-427
Postal savings banks, 293
President, bank, 177
Price, defined, 68; cycles, 75-77;
changes transmitted, 87-89;
effect of changes in, 88-90
Price tables, 80; comparison of
leading, 85; see Index numbers
Promissory note, form of, 112
Real estate, loans on, 166, 264,
431
Redemption of notes, Suffolk sys-
tem, 141; national banking
system, 162; Canadian system,
333
Rediscounts, 266-268; by Euro-
pean banks, 326; under Fed-
eral reserve system, 384-388
Refunding 2 per cent bonds, 400
Reichsbank, 328
Reserves, gold in Treasury, 35;
of national banks, 164, 409-418;
immobility of, 342; centralized
under Federal reserve system,
411-419
Reserve bank notes, inelastic, 52,
409; to replace national bank
notes, 401
Rural credit banks, 156, 330
Safety fund system, 141
Sauerbeck, index numbers, 83, 85
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