States The Cause Of The Defect

This defect must attachtoevery schema for a currency issued by the banks against a deposit of bonds the niarkot value of which fluctuates. while the percentage of issue, lcss than the value of the bonds granted tho banks, remains unchanged. It must also be wmiting in such a method bcciiusu f the dehiy in the face of a piessing noed, occasioncd by a tight nionoy niarkot or other roasons, in securinpr and do))ositing the bonds required and taking out the circulntion thu'reou."