good the securities of any bank in the association.
The panic of 1907, Run on the State Bank,
Grand Street, New York.
(4) The total amount of circulating notes outstanding for any bank shall
not at any time exceed the amount of its unimpaired capital and surplus,
neither shall the amount of such notes in the United States exceed
$500,000,000 at any time. The amount issued in each State shall bear the
same relation to the total amount issued in the United States as the
unimpaired capital and surplus of the banks of that State bear to the