So long as a bank's officers realize their responsibility for meeting liabilities upon demand, and so long as the government authorities enforce the law and regulations to this end, probably the most important duty of the officers is to regulate the cash reserve so as to be able to meet the demands upon the bank. The situation becomes dangerous and critical when the banks suspend specie payments and the government acquiesces in such suspension. In times of threatened panic the banks are wont to appeal to their creditors to refrain from withdrawing funds, the argument being that with a little indulgence in this matter the bank will be in a safe position and not be forced to liquidate. The government may also refrain from prosecuting banks which have suspended specie payments under such conditions. Banks thus operating under suspension of specie payments, being freed from the necessity of maintaining cash reserves, can expand their liabilities without limitation. The requirement of a cash reserve sets a physical limit to the maximum quantity of bank notes and deposits issuable by a bank, such quantity being only the legal multiple of the reserve. Under suspension the deposits and bank notes arising from discounts "may be as infinite as the range of speculation and adventure in a great commercial country."