Criticize the view as to the cause of commercial crises expressed in the above statement. 8. Is a crisis caused by too much or too little money, or by some other influence? 9. If there were twice as much money in the world, would panics take place? 10. In a period of depression is there less money than usual in the country? In the banks? 11. In what ways and to what extent are trade conditions apt to be affected by: The increasing gold supply? The trust movement? Increasing armies and navies? The agricultural situation? 12. Explain the difference in the motive of the borrower at ordinary times and in times of panic. 13. How are loans affected when the reserve limit as established either by law or custom is reached in England, Germany and the United States? 14. What in your opinion is the correct explanation of crises? 15. In what ways is business affected by the condition of the crops? Within what limitations? In the case of which crops is the connection closest? 16. What element of security is furnished by clearing houses during panics? 17. Describe the method used by the banks in meeting demands of depositors during the panics of 1893 and of 1907. (Dunbar is especially valuable. Also O. M. W. Sprague, History of crises under the National Banking System, pub. by Nat. Monetary Com.) CHAPTER 11 INSTITUTIONS FOR SAVING AND INVESTMENT REFERENCES. _Chamberlain, Laurence_, Principles of bond investment. 4th ed., 1913. The work of the bond house. 1913. _Devine, H. C._, People's coöperative banks for workers in towns, and small holders, allotment cultivators, and others in country districts. 1908. _Dexter, Seymour_, A treatise on coöperative savings and loan associations. Ed., 1894. _Fisher, Irving_, _Kemmerer, E. W._, _Brown, H. G._, and others, How to invest when prices are rising. 1912. _Guenther, Louis_, Investment and speculation. 1916. (La Salle Uni.) _Hamilton, J. H._, Savings and savings institutions. 1902. _Johnson, A. S._, Influences affecting the development of thrift. P. S. Q., 22: 224-244. 1907. _Kemmerer, E. W._, The United States Postal Savings bank. P. S. Q., 26: 462-499. 1911. _Kniffin, W. H._, The savings bank and its practical work. 1912. *_Phillips_, ch. XVI. _Wolff, H. W._, A coöperative bank handbook. 1909. Coöperative banking. 1907. People's banks. 3d ed., 1910. QUESTIONS. 1. What are the nature and purpose of legislation restricting the investments of savings banks? 2. What are these restrictions in this state? In your own state? In those states which are regarded as having the most highly developed laws in this field? 3. Is legislation in this field to be considered as subsidizing certain types of private enterprise? If so, is it socially justifiable?