SERIES CORRELATED WITH GROSS EARNINGS 227 
of gross earnings to earning assets and a number of other series, 
variations in all cases being measured by directions and percentage 
amounts according to three criteria (1) differences from district 
levels, (2) year-to-year changes, and (3) differences from yearly 
averages for the twelve Federal Reserve districts combined. Gross 
earnings are treated as the independent and the related series as 
the dependent variables. It will assist in summarizing the dis- 
cussion to set out in tabular form, as in Table 137, the relations 
found to exist. 
TABLE 137 
NATURE OF CORRELATION OF PERCENTAGE DIFFERENCES AND CHANGES 
FROM YEAR TO YEAR IN RATIOS OF PAIRED 
SERIES, 1919-1025 
NATURE oF MEASUREMENT 
Inde- | 
>endent 
Varia. 
hla 
Gross 
Carnings 
to 
Earning 
Assets 
SERTES CORRELATED 
(Expressed as Raiios) 
Dependent Variables 
er 
“oans and Discounts to 
Earning Assets 
Demand Deposits to 
Total Deposits 
Demand Deposits to 
Farning Assets 
Total Expense to 
‘arning Acsets 
Net Earnings to 
Earning Assets 
Salaries and Wages to 
Earning Assets 
[nterest on Deposits to 
Earning Assets 
Interest and. ;:ounts on 
Borrowed Money to 
Earning Assets 
Taxec to Farnine Acceate 
“Other Expense” to 
Earning Assets 
Differences from 
District Averages 
Direc- 
tion 
Amount 
Ynsitive 
Positive 
Negative | 
(1) 
Negative 
"Positive 
Dositive 
Positive 
Positive 
Positive 
Dacitive 
Dagitive 
Dhcitive 
(1) 
Positive 
(1) 
dacitive 
dncitive 
Positive Positive 
Changes from Year 
to Year 
Direc- 
tion 
Amount 
Dositive 
Positive 
{1} 
(1) 
Negative [Positive 
Pacitive 
Positive 
Daeitive 
Positive 
Positive 
Positive 
(1) 
(1) 
Positive 
Positive 
‘nejtive 
Dositive 
Positive 
Positive 
Differences from 
Country’s Yearly 
Averages 
Direc. 
tion Amount. 
Pocitive 
Positive 
smi m—— 
(1) 
(x) 
m | ow 
Positive Positive 
Nezative | (1) 
(2) 
2 
(2) 
™ 
-» 
(2) 
(x) Doubtful. 
‘ay Not computed.