the American Reserve Bank as reserves against their savings deposits
shall be invested in United States Government bonds or securities for
the exclusive benefit of the savings depositors in the national banks
as a savings bank fund, and the full interest earned upon said bonds
shall be credited to the savings bank fund in the American Reserve
Bank, and no part thereof shall be deducted for any other purpose
whatsoever than the protection of savings bank depositors.
COMMENT:--This trust fund would absorb about $350,000,000 of the
present bonds held by the national banks for circulation, as the total
savings now approximate seven billion dollars ($7,000,000,000).