Proposals for Strengthening the National Banking System

A central bank with large lending power will not fit into our system, 71. — And it is not necessary, 74. — Its primary functions: (a) The settlement of clearing house balances, 77. — (b) To ensure the use by the other banks of their resources in emergencies, 79. — (c) Handling the domestic exchanges, 81. — The clearing of country checks, 84. — Method of selecting the directorate, 86. — Prohibition of collateral loans, 87. — The bank acceptance an unnecessary and hazardous device, 88. — Capital of the central bank, 89. — Note issue, 90. — Retirement of the gold certificate and the U. S. note, 91. — Statement of account of the proposed bank at the opening of business, 92.