Banking standards under the federal reserve system

Bibliographic data

Monograph

Identifikator:: 1762969653

URN:: urn:nbn:de:zbw-retromon-142432

Document type:: Monograph

Title:: Banking standards under the federal reserve system

Place of publication:: Chicago

Publisher:: A. W. Shaw Company

Year of publication:: 1928

Scope:: xxxviii, 420 Seiten

Digitisation:: 2021

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part V. General summary and interpretation

Collection:: Economics Books

. — = \ INTERPRETATION To rest the case with the general summary given in the preced- ing chapter would leave the study incomplete. Certain phenomena have been discovered, measured, and described. To what condi- tions are they due? How do they emerge? Are they consistent with the facts relating to banking theory and practice, and with the services which commercial banks render to business and industry? To describe the workings of our economic system and the relations of banks to it during the years 1919-1925 for the country as a whole, and for certain of these years for the First and Second districts, to which special attention is given, is obviously impossible in short compass if it is possible at all. No such task is here attempted. Economic annals relating not only to banking, business, and industry in the country as a whole but also to the peculiarities in each district would have to be written and interpreted if this colossal task were completed. The materials for such an undertaking are not at hand, and if they were it is doubtful whether their fullest use would serve unmistakably to ‘explain’ what has happened during these postwar years. While this project is doubtfully possible, the one which is germane to the present inquiry is not impossible. If the phe- nomena discovered and measured are kept in mind, both the economic and banking conditions, out of which a plausible ex- planation may be formulated, may be sketched in outline. The banking membership of the Federal Reserve system com- prehended in 1922, the median year in the period under review, 0,892 banks. These were geographically distributed over the entire United States, the largest number, 1,441, being located in District 7 (Chicago) and the smallest number, 433, being found in District 1 (Boston). In this year, the total number of mem- ber banks represented 33% of the number and 60% of the earn- ing assets of all banks in the United States. By and large, these banks do a commercial banking business; that is, they currently "TAs of June 30. See Table 1. - 10

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