Selling Latin America

Banking standards under the federal reserve system

Bibliographic data

Monograph

Identifikator:: 101030657X

URN:: urn:nbn:de:zbw-retromon-41609

Document type:: Monograph

Author:: Aughinbaugh, William E.

Title:: Selling Latin America

Place of publication:: Boston

Publisher:: Small, Maynard & Company Publishers

Year of publication:: 1915

Scope:: 1 Online-Ressource (VI, 408 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Index

Document type:: Monograph

Structure type:: Index

Collection:: Economics Books

361 Do these characteristics and tendencies find a counterpart in the money market as measured by interest rates charged by banks on customers’ loans? Dr. Frederick C. Mills, by using data showing by cities the prevailing rates charged by member banks on prime commercial loans, finds certain regional differences which he summarizes as follows :17 INTERPRETATION GROUP AVERAGE RATE ON CusTOMERS’ Loans (1022-1026) Cities of the Middle Atlantic and Northeast (Boston, Phila- delphia, New York, Buffalo) .......................... Cities of the Upper Mississippi (St. Louis, Chicago, Minneap-| olis, Detroit, Pittsburgh, Cincinnati, Cleveland). ........ Cities of the South (Baltimore, Richmond, Atlanta, New Orleans, Louisville, Birmingham, Jacksonville, Nashville). . Cities of the Pacific Coast (San Francisco. Portland, Seattle, Los Angeles, Spokane)............ CC eee Cities of the Western Plains and Rocky Mountains (Kansas City, Omaha, Denver, Salt Lake City, Helena).......... Cities of the Southwest (Dallas, Houston, Little Rock, Okla- homa Citv. Fl Paso. . .. 2.12 5.40 5-86 6.12 6.32 65.35% From this summary the Annalist concludes: “The differences between cities and between the various groups of cities . . . . represent variations in the degree of commercial develop- ment and business stability, differences in the amount of available credit, and differences in the intensity of the demand for capital and credit, as well as the variations in local business conditions and banking habitg 2718 By using the basic data compiled by Dr. Mills for 34 cities for each of the years 1922-1926, the median rate for the entire period 's found to be 5.71. By using this amount as a standard of ref- erence by which to divide the cities into three groups—the bases of classification being their own median rates for the years 1922- 1926 compared with the median rate for all cities—and then by arraying them by the sizes of the differences from type, it is seen, as indicated in Table 204, that the rates vary by the location and by the size of city, and that the differentials persist from year to year. Moreover, they are high or low, relative to their 17 Reported in an article, “Regional Differences in Discount Rates,” The Annalist, July 20, 1927, p. 171. The basic data used by Dr. Mills are published currently in the Federal Reserve Bulletin. \8 Thr pit

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