In 1900 this was changed so that notes could be issued to the full amount of the denomination of the bonds.] [Footnote 2: In recent years this has been one half of 1 per cent when 2 per cent bonds, and 1 per cent when bonds bearing a higher interest, were deposited.] [Footnote 3: In reserve cities 25 per cent and in other cities 15 per cent.

The details of the regulations in the old law (given in part below, sec.

7) were ll altered by the legislation of 1913.] [Footnote 4: The expressions within quotation marks in the following sections are taken from this report.] [Footnote 5: See further on this in sec.

7 on periodical congestion of funds.] [Footnote 6: See above, sec.

3.].