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TABLE OF CONTENTS.

Page.
1-34

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Discount rates and war financing_----

10

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H.-Earnings and expenses of the Federal Reserve Banks 145-157

I.-State banks and trust companies admitted to mem-
bership in the Federal Reserve system_----
Exhibit J.-Circulars and regulations of the Federal Reserve

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horized....... Dowers during

ty to accept

their capita

the Feder

of Federal

ederal Re

il_....

amounts

-nts----

the year s during

es, and

ral Re

nks...

Board 215-4

217-2

213-30

307-38

359-38

380-41

413-3

433-694

455-48

485-605

507-533

535-571

-- 573-607

PART I.

REPORT OF THE FEDERAL RESERVE BOARD,
WITH EXHIBITS.

V

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