6. What dangers attend the extension of bank credit?
7. Describe the national banking system.
8. Why should a banking system be elastic?
9. Explain the inelasticity of deposit credit before 1913.
10. Discuss the inelasticity of bank note issue under the old national banking system.
11. What was the significance of the panic of 1907?
12. Outline the framework of the Federal Reserve System.
13. Explain in detail how the Act of 1913 provides for elastic deposit credit.
14. Explain the "rediscounting device."
15. How does the Act of 1913 provide for an elastic bank note issue?