Full text: Banking standards under the federal reserve system

NORMS AND TRENDS IN EXPENSES 125 
and 1924, showing this to be true. That is, years in which the 
amounts were high or low were substantially the same in all 
districts. 
2. The yearly district amounts were below the yearly levels for 
the country during the full seven years in Boston, New York, and 
Philadelphia; they were above these levels during all of the years 
in Atlanta, St. Louis, Minneapolis, Kansas City, Dallas, and 
San Francisco. In the other three districts (Cleveland, Rich- 
mond, and Chicago) the amounts were at times above and at times 
below the yearly levels. That is, in all but three districts the 
positions of the amounts relative to the country averages were 
either positive or negative during the seven years. This condi- 
tion is not surprising for such districts as Atlanta and Dallas, for 
instance, in which the amounts differ widely from those charac- 
terizing the country as a unit, but it is interesting in the case of 
St. Louis. where differences are small. 
Trends 
I. For the country as a whole, the trend of “other” expenses 
in relation to earning assets was upward when the entire period 
of seven years is considered. It was markedly so between 1919 
and 1921, the rate being accelerated between 1920 and 1921. 
Following 1921, the trend is downward for one year, then essen- 
tially horizontal—no change—then upward between 1923 and 
1924, and then downward at approximately the same rate as be- 
tween 1921 and 1922. 
2. The movement and rate of change for the country as a 
whole are generally followed in Boston, New York, Philadelphia, 
Atlanta, St. Louis, Kansas City, and Dallas. They are deviated 
from in Cleveland, Richmond, Chicago, Minneapolis, and San 
Francisco, the characteristic rise from 1919 to 1921 and the fall 
from 1921 to 1925 being uncertain in Cleveland and Richmond, 
and differently timed in Chicago, Minneapolis, and San Francisco. 
Yet here, as in the case of the other items of expense, there are 
similarities among the different districts in the changes from year 
to year and over the whole term of years. These are the rule 
rather than the exception; they point to the presence of common 
problems or common methods of meeting them in the discharge of 
banking functions by the banks in the different districts.
	        
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