National banking under the Federal Reserve System

Bibliographic data

Monograph

Identifikator:: 1757542345

URN:: urn:nbn:de:zbw-retromon-135097

Document type:: Monograph

Title:: National banking under the Federal Reserve System

Place of publication:: New York

Publisher:: The National City Bank of New York

Year of publication:: 1927

Scope:: 154 S.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Growth of the national banking system

Collection:: Economics Books

NATIONAL BANKING UNDER THE FEDERAL RESERVE SysTEM bers of the System, indicating a ratio of approximatley 1 non-national member bank to every 6 national members. In referring to the national banks as making possible the Federal Reserve System it is essential not to lose sight of the fact that, despite the splendid case the System has proved for itself by its own suc- cessful achievements, it was, nine years ago, untried, and looked upon questioningly by many substantial bankers and business men of the country. Had there been in existence no great body of banks, sub- jected to Federal legislation, it may well be doubted that the Federal Reserve System would have had such an early and free-handed opportunity to demonstrate its merits. With the inauguration of the Federal Reserve System, national banking in America entered upon a period influenced by elements of more radical departure from established principles of finance than those of any previous epoch. New regulations have become operative; new forces in the general scheme of banking have been introduced; a closer kinship between the national and non-national banks that are members of the System has arisen. And above all, the fact that in the neighborhood of ten thousand banks are encom- passed in one central banking system, working together for one pur- pose, has in itself had as tremendous a moral effect upon the member banks themselves as upon the country at large. During the period 1914-1922, the average yearly increase in the number of national banks was 81, but total assets of all national banks increased from 11.8 billion dollars (January 18, 1914), to 22.0 billion (December 29, 1922), or nearly 100 per cent. In other words, the increase in total resources shown during the period mentioned practically equaled the growth of assets during the entire 51 years that the national banking system had been in existence up to 1914. Individual deposits in national banks more than doubled during the period, and loans increased over 90 per cent. These two items per $1 of capital, at the beginning and close of the period were: EAP 1914 1922 DEPOSITS PER $1 OF CAPITAL $5.74 10.52 ot 0] LOANS PER $1 OF CAPITAL $5.84 8.81

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