Readings in Money and Banking / Selected and Adapted

by Chester Arthur Phillips

[56] The estimate for 1908 is $113,996,000. Cf. U. S. Report of Director of Mint, 1909, p. 80.

[57] Bulletin, Am. Econ. Assoc., Fourth Series, No. 2, 1910, pp. 46-52.

[58] Ibid., pp. 52-61.

[59] Money and Credit Instruments in their Relation to General Prices, 2d edition, 1909. New York: Henry Holt & Company.

[60] The passages referred to are omitted.—Editor.

[61] Kemmerer, Money and Credit Instruments, pp. 9-18, 74-82.

[62] Ibid., pp. 82-8, 121-6, 145-8.

[63] Ibid., p. 9. [See Fisher: Purchasing Power of Money, pp. 175-180.]

[64] The value of gold bullion deposited at the United States mints and assay offices increased from $87,924,000 for 1897 to $205,036,000 for 1907. Figures furnished by the Director of the Mint.

[65] It is noteworthy that the reserves of the New York associated banks for example are usually kept very close to the legal reserve requirements. Cf. Sprague, Crises under the National Banking System, p. 222.