Chapter LXI: Section 72: That the said 5 per centum so paid by the national banks to

the American Reserve Bank as reserves against their savings deposits shall be invested in United States Government bonds or securities for the exclusive benefit of the savings depositors in the national banks as a savings bank fund, and the full interest earned upon said bonds shall be credited to the savings bank fund in the American Reserve Bank, and no part thereof shall be deducted for any other purpose whatsoever than the protection of savings bank depositors.

COMMENT:--This trust fund would absorb about $350,000,000 of the present bonds held by the national banks for circulation, as the total savings now approximate seven billion dollars ($7,000,000,000).