It has already been stated that the state in the exercise of its legislative power can prohibit private banking altogether.1 A very different question would arise if the state should attempt to abolish banking altogether. The question has not presented itself, nor can any one conceive that a legislature would attempt so to do. Such an act would unquestionably be not a valid exercise of the police power. But the state has always the power to regulate the business of banking,2 and has done so in many ways. How far the state governments can regulate national banks by taxation has been already noticed.3 The purpose of this chapter is to state those regulations that have been made both as to state banks, corporate or private, and to national banks.