[Footnote 7: The legal requirements as to minimum reserves vary greatly from no specific per cent to 40 or more in different countries, for different classes of banks, and for different purposes. Some examples of legal reserve requirements in the United States occur in the two following chapters.]
[Footnote 8: See above, ch. 4, sec. 5.]
[Footnote 9: See below, sec. 10.]
[Footnote 10: Including, now, some Federal Reserve bank notes secured by United States bonds.]
[Footnote 11: In some cases, as during the bank restriction in England, 1797-1821, bank notes become inconvertible—practically political money.]
[Footnote 12: Payment of interest on credit balances reduces the motive to withdraw for investment elsewhere any such excess, and mingles in the depositor's thought monetary and investment motives.]
[Footnote 13: In the United States in 1914 there were individual deposits reported in banks other than savings banks to the amount of about $13,400,000,000
In national banks ……………………………. $6,000,000,000
In state banks ………………………………. 3,250,000,000
In loan and trust companies …………………….. 4,000,000,000