The provision for a special issue during the crop-moving period, tho limited in operation, was found sufficiently useful to be incorporated in the Act of 1913. It provides that during the crop-moving period, from the first of September to the end of February, banks are at liberty to increase their note circulation to the extent of 15 per cent of the combined total of their paid-up capital and reserves. A bank, for instance, with a paid-up capital of $10,-000,000 and a reserve of $5,000,000 would, of course, at all times be able to issue notes up to $10,000,000, but during the period from September 1 to February 28 it can make a further issue of 15 per cent of $15,000,000, namely, $2,250,000, excess, or a total of $12,250,000. As this excess issue is subject to a government tax of five per cent, its use entails a loss to the bank, and consequently it is used only when absolutely necessary.

In August, 1914, this privilege was extended thru-out the whole year, during the continuation of the war.