Prior to the adoption of the Federal Reserve System, there was no mutuality between the national treasury and the national banks. Under the old system, the Government deposited its funds with thousands of national banking institutions throughout the country. It was thought, before the enactment of the law, that it would be well to withdraw the deposits from the thousands of banks wherein they were lodged, and consolidate them within the Federal Reserve banks. However, due to the entry of the United States into the war, and the great assistance rendered by the banks throughout the country in floating Liberty loans, assisted as they were in this purpose to a great extent by the deposits of the United States Government, a transfer of this kind was out of the question. Now, that the country is passing from a period of war financing to somewhat more normal times, it is therefore, a matter of speculation as to what will be the Government's policy in connection with the funds of the United States Government after the abnormal conditions have passed away.