Excerpt from Money and Banking The treatment of Money in Part I follows in a general way the lines made familiar by other standard works to which frequent references are made in the footnotes and m the suggested reading lists at the end of each chapter. The efiort has been made to compress this part of the book into the smallest space consistent with a presentation of essentials in the history, theory and principles of money, leaving the major part of the book for the discussion of the principles and practices of banking. In the chapters devoted to banking organization and practice it has been impossible to give consideration to the varying local cus toms and practices of different types of banking institutions. The aim has been to describe those principles and practices of commercial banking that are common to all banks. Though the new Federal reserve system introduces far reaching changes in our banking and currency system, many years must elapse before its full effects can be definitely measured. Throughout Part II frequent reference is made to various provisions of the Act of 1913, and Chapter XXII is devoted to an analysis of its leading provisions, and a summary of the steps taken in the establishment of the new system. A proper understanding of the new system, how ever, can be gained only by following its Operations and marking the effect of changes that will certainly be made in the law from time to time. It is believed that the addition of the complete text of the Federal Reserve Act (appendix) About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.