Reserve Bank

Same as " Federal Reserve Bank."

Reserve Banks

Banks and trust companies belonging to the "Federal Reserve System" located in "reserve cities" and "central reserve cities "; also " Federal Reserve Banks" (see those subjects).

1 World's Work, April, 1906.

Reserve Excess

Meaning the same as " Surplus Reserve." Reserve Fund. The English equivalent of our "surplus." Reserve Held. As used in the " bank statement" this indicates the amount of "reserve" (see that subject) as actually held by the banks, without regard to the legal requirements.


Property of all kinds; everything owned; cash on hand, notes and bills receivable, merchandise; in fact everything that one possesses, including what is due him.


A loan on the cargo of a vessel, payment being contingent on the safe arrival of the cargo at the port of destination - the effect of such condition being to except the contract from the common usury laws.

Respondentia Bond

When a contract is given securing a vessel to the lender as a pledge for the payment of the loan, it is termed a " Bottomry Bond," but when both the ship and the cargo are pledged, it is a " Respondentia Bond."


Surplus or undivided profits; the accumulated and undivided profits of the "Bank of England" are its "rest." With us "surplus" is the term commonly used.

Restrictive Indorsement

Sometimes the indorser of an instrument may wish to prevent its further negotiability, and attaches some words to his indorsement to that effect. This is a "restrictive indorsement." Examples, "For collection" or "for account of," or "pay to James Frazer only."

Resumption Of Specie Payment

First, read "Suspension of Specie Payment." On Jan. 14, 1875, what was known as the Resumption Act was approved, by which the Secretary of the Treasury was directed to make provision for the redemption of United States notes, or " greenbacks," in coin, beginning with Jan. 1st, 1879, and further authorized him to use surplus revenues, as well as to sell bonds at not less than par in coin, for that purpose.

Retreating Market

Prices declining.


We speak in this country of the "Bank Statement." Abroad, "return" is used as the equivalent to our " statement." For example, " Return of the Bank of England."

Revenue Bonds

A temporary debt created for the purpose of raising funds for current expenses, and in anticipation of the collection of taxes. Such a debt, however, is usually in the form of notes.


Refer to " Short Ribs."

Rich Man's Panic. The meaning of the word "panic" being understood, which will be found explained under that subject, it will be an easy matter to comprehend that " rich men's panics" are sudden declines in stock market values brought about by the wealthy speculators and operators suddenly trying to convert their holdings into cash, resulting in injury to themselves rather than to the small speculator or trader.