NORMS AND TRENDS IN DEPOSITS 37
go% went higher and 10% went lower in the following year; con-
trariwise, of the 42 which were low, 71% rose and 29% fell. The
general tendency was for the percentages over the whole period,
from year to year, to increase.
With respect to the second question—are the year-to-year
changes functions of the distances above or below the long-time
levels?>—the evidence is conflicting. The direct relation between
the percentage amounts of dispersion from the seven-year level
and the net percentage amounts of change from year to year, so
striking for ratios of loans and discounts and for investments to
earning assets, does not hold for the ratios of total deposits to
earning assets.
While all member banks in each district, taken as a unit, have
their own yearly and periodic ratios of deposits to earning assets
—these ratios being high or low for all or a part of the districts
each year during the years 1919 to 1925, and moving upward
or downward from year to year—the levels of the ratios for the
several districts differ widely each year from the average level
for the twelve districts combined. It is of interest to consider the
level for each district for each year in order to see whether dis-
tricts are consistently or sporadically above or below the country
level. A summary of the facts in this respect is contained in
Table 23.
This table shows that consistency of position, with respect to
TABLE 23
PERCENTAGE DIFFERENCES OF DISTRICT AVERAGES OF RATIOS OF
Total Deposits TO EARNING ASSETS FOR ALL MEMBER
Banks, FEDERAL RESERVE SYSTEM, FROM AVERAGES
FOR THE COUNTRY AS A WHOLE
FEDERAL
RESERVE
DISTRICTS
Boston......
New York...
Philadelphia..
Cleveland. ...
Richmond. . .
Atlanta......
Chicago. ....
St. Louis. ...
Minneapals. |
Kansas City..
Dallas...... |
San Francisco
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