NORMS AND TRENDS IN EXPENSES 12.
Norms
1. Taxes, when measured in terms of earning assets, were high
in all districts relative to the seven-year district levels, in 1921
and 1922; they were low in eleven in 1924 and in 1925. In
1910, 1920, and 1923, most of the districts were low.
2. Taxes in New York, Philadelphia, and San Francisco were
lower, and in Atlanta, Chicago, St. Louis,?! Minneapolis, Kansas
City, and Dallas they were higher, during the seven years 1919-
1925, than the yearly averages for the country as a whole. In
five of the seven years they were low in Cleveland, and in four
of the seven, high in Richmond. Generally speaking, therefore,
taxes in relation to earning assets, when compared with the level
for the country, are low in the East, and far West (San Fran-
cisco), and high in the balance of the country.
Trends
1. For the country as a unit for the seven years 1919-19235, the
trend of taxes relative to earning assets was downward. It was
generally upward from 1919 to 1921 or 1922 and thereafter
downward, the fall exceeding the rise, thus leaving the amounts
in 1925 at a lower level than in 1919. This condition also obtains
for all the districts except Philadelphia. Cleveland, Richmond,
Atlanta, and Kansas City.
2. For the entire country, and for eight of the twelve districts,
the greatest rise occurred between 1920 and 1921, all of the
districts except Richmond registering an increase of some sort.
The greatest fall for the country as a unit and for nine of the
twelve districts came between 1922 and 1923. In New York,
Minneapolis, and Dallas the fall began in 1921 and continued,
with interruptions for New York and Minneapolis between 1923
and 1924, to 19235.
3. Districts with trends over the whole period similar to that
for the country are Chicago, Minneapolis, Kansas City, Dallas,
and San Francisco; those with trends generally different are Rich-
mond and Cleveland.
4. Districts with somewhat similar trends over the whole period
are Philadelphia and Richmond; Atlanta and Chicago; St. Louis
and Kansas City; Minneapolis and Dallas.
“2p one year, 1020, those in St. Louis were the same as the country average.
