It is not as precise as a pelham bit because it only uses one rein, though the modern ones have two or three slots on which to put the reins.
1	It	it	PRON	PRP	Case=Nom|Gender=Neut|Number=Sing|Person=3|PronType=Prs	5	nsubj	5:nsubj	_
2	is	be	AUX	VBZ	Mood=Ind|Number=Sing|Person=3|Tense=Pres|VerbForm=Fin	5	cop	5:cop	_
3	not	not	PART	RB	_	5	advmod	5:advmod	_
4	as	as	ADV	RB	_	5	advmod	5:advmod	_
5	precise	precise	ADJ	JJ	Degree=Pos	0	root	0:root	_
6	as	as	ADP	IN	_	9	case	9:case	_
7	a	a	DET	DT	Definite=Ind|PronType=Art	9	det	9:det	_
8	pelham	pelham	NOUN	NN	Number=Sing	9	compound	9:compound	_
9	bit	bit	NOUN	NN	Number=Sing	5	obl	5:obl:as	_
10	because	because	SCONJ	IN	_	13	mark	13:mark	_
11	it	it	PRON	PRP	Case=Nom|Gender=Neut|Number=Sing|Person=3|PronType=Prs	13	nsubj	13:nsubj	_
12	only	only	ADV	RB	_	13	advmod	13:advmod	_
13	uses	use	VERB	VBZ	Mood=Ind|Number=Sing|Person=3|Tense=Pres|VerbForm=Fin	5	advcl	5:advcl:because	_
14	one	one	NUM	CD	NumForm=Word|NumType=Card	15	nummod	15:nummod	_
15	rein	rein	NOUN	NN	Number=Sing	13	obj	13:obj	SpaceAfter=No
16	,	,	PUNCT	,	_	21	punct	21:punct	_
17	though	though	SCONJ	IN	_	21	mark	21:mark	_
18	the	the	DET	DT	Definite=Def|PronType=Art	20	det	20:det	_
19	modern	modern	ADJ	JJ	Degree=Pos	20	amod	20:amod	_
20	ones	one	NOUN	NNS	Number=Plur	21	nsubj	21:nsubj	_
21	have	have	VERB	VBP	Mood=Ind|Number=Plur|Person=3|Tense=Pres|VerbForm=Fin	5	conj	5:conj	_
22	two	two	NUM	CD	NumForm=Word|NumType=Card	25	nummod	25:nummod	_
23	or	or	CCONJ	CC	_	24	cc	24:cc	_
24	three	three	NUM	CD	NumForm=Word|NumType=Card	22	conj	22:conj:or|25:nummod	_
25	slots	slot	NOUN	NNS	Number=Plur	21	obj	21:obj|29:obl:on	_
26	on	on	ADP	IN	_	27	case	27:case	_
27	which	which	PRON	WDT	PronType=Rel	29	obl	25:ref	_
28	to	to	PART	TO	_	29	mark	29:mark	_
29	put	put	VERB	VB	VerbForm=Inf	25	acl:relcl	25:acl:relcl:to	_
30	the	the	DET	DT	Definite=Def|PronType=Art	31	det	31:det	_
31	reins	rein	NOUN	NNS	Number=Plur	29	obj	29:obj	SpaceAfter=No
32	.	.	PUNCT	.	_	5	punct	5:punct	_
