SERIES CORRELATED WITH DEPOSITS 191 
others which may be observed from the tables in this chapter, 
but the following generalizations may be of some service in this 
respect. 
1. Yearly district ratios of gross earnings and of total expense 
are generally low, relative to their respective district seven-year 
levels, when district ratios of demand deposits to total deposits 
are high with respect to their levels, and generally decrease from 
year to year when demand deposits increase. Inverse relations 
obtain when demand deposits are low and when they are decreas- 
ing. The same respective relations obtain when demand deposits 
are measured in terms of earning assets. 
2. Yearly district ratios of net earnings are generally high, 
relative to their respective seven-year district levels and to their 
respective yearly country levels, when district ratios of demand 
deposits are high. 
3. Ratios of gross earnings and of total expense to earning 
assets are lowest in districts in which ratios of demand deposits 
to total deposits are high and ratios of loans and discounts to 
earning assets are low. Ratios of net earnings to earning assets 
are lowest in districts in which ratios of demand deposits to total 
deposits and of loans and discounts to earning assets are low. 
Conversely, ratios of gross earnings and of total expense are 
highest in districts in which ratios of demand deposits are low 
and loans and discounts are high, while ratios of net earnings are 
highest in those districts having high ratios of both demand de- 
posits and loans and discounts. 
The relations between demand deposits as ratios of total 
deposits and gross earnings, total expense, and net earnings, 
respectively, expressed in terms of earning assets, are shown by 
districts individually and combined in Charts 42, 43, and 44. 
The bases upon which these charts are drawn and the manner 
in which they should be interpreted are described in Chapter 
VIII. The norms and trends of each of the series separately 
have already been summarized. The charts are designed to 
show the similarity and the percentage amounts of the deviations 
of the yearly ratios from their respective district levels, and the 
nature and percentage amounts of change from year to year 
between the respective correlated series. They supplement the 
tables presented above, inasmuch as they show that whatever