1. Commercial Paper, 11 2. The Operation of Discount, 13 3. The Conduct of Checking Accounts, 15 4. The Issue of Notes, 19 5. Collections, 22 6. Domestic Exchange, 25 7. Foreign Exchange, 31 Chapter III. The Problems of Commercial Banking, 35 1. The Supply of Cash, 35 2. The Selection of Loans and Discounts, 40 3. Rates, 44 4. Protection against Unsound Practices, 46 (a) Capital and Surplus Requirements and Double Liability of Stockholders, 46 (b) Inflation and Means of Protecting the Public against It, 49 (c) Other Means of Safeguarding the Interests of the Public, 59 5. Adequacy and Economy of Service, 62 Chapter IV. Commercial Banking in the United States, 68 1. State Banks, 68 2. National Banks, 70 3. The Independent Treasury System, 75 4. The Interrelations of These Institutions, 78 5. Operation of the System, 82 (a) Conflict of Functions and Laws, 82 (b) Loan Operations, 85 (c) Treasury Operations, 88 (d) Operation of the Reserve System, 91 (e) Lack of Elasticity in the Currency, 95 6. Plans for Reform, 97 Chapter V. Commercial Banking in Other Countries, 101 1. Common Features, 101 2. The English System, 104 3. The French System, 111 4. The German System, 119 5. The Canadian System, 126 Chapter VI. Investment Banking, 136