Io 
BANKING STANDARDS 
tricts combined as it is in the consistency of direction of change 
among the different districts. Here again, there is no necessary 
arithmetical reason for this common movement. 
TABLE 6 
PERCENTAGE CHANGE FROM YEAR TO YEAR OF YEARLY DISTRICT 
RATIOS OF L0oANS AND DISCOUNTS TO EARNING ASSETS IN ALL 
MEMBER BANKS, BY YEARS AND FEDERAL RESERVE DISTRICTS 
FEDERAL RESERVE DISTRICTS 
Average 
(All Districts) 
— 
Boston. ...... 
New York. . 
Philadelphia . 
Cleveland. .. 
Richmond. . 
Atlanta....... 
~hicago....... 
5t. Louis. ...... 
Tinneapolis... 
{ansas City... 
Jallas......... 
3an Francisco... 
sees 
EEE 
EERE 
PERCENTAGE CHANGE FROM YEAR TO YEAR 
1923 1024 
to to 
1024 1925 
1019 1920 
to to 
1020 1921 
+ 8.20 ¢ 
+r.24 1 —4.53 ° 
—2.80 
+o0.99 
| —2.10 
+ 4.20 
+ 7.93 
{+ 8.90 
+ 9.20 
+10.12 
ov .6g 
+0.72 
—0.25 
+o0.27 
+2.38 
+2.42 
+a.2¢ 
4 
—~6.16 
-8.:8 
-4.7s 
~1.54 
-0.02 
ant 
—%.31 
—3.20 
—0.90 
—2.82 
—0.26 
-0.F7 
+1.03 
+1.65 
+-2.10 
1.1.46 
4-0.06 
+0. 50 
10.22 
fr.12 
~~ 46 
-0 12 
3.60 
+1.53 
—0.78 
—1.93 
—0.90 
—2.54 
—0.05 
—4-08 
Fo 
—7.96 
—4.27 
+1.0¢ 
—3.01 
+ o.z1 
~+I.5I 
—- 4 
—2.206 
—0.61 
It will be remembered that Table 3 shows the ratios in the dif- 
ferent districts each year to be widely different. Each district has 
its own level. Diversity in this respect is to be expected. The 
significant thing, at this point, is the tendency toward uniformity 
in the direction of change occurring in the twelve districts. It is 
not perfect except in two years—r1920 as compared with 1919, 
and 1923 as compared with 1922—and complete consistency is 
not to be expected. The directions of change are summarized in 
Table 7. 
The direction of year-to-year changes is of interest in another 
respect. If the ratios in a given year are high, relative to the levels 
fixed by the seven-year district averages, there is a marked 
tendency in the following year for them to decrease; conversely, 
if they are low as fixed by the same standard, the tendency in 
the following year is for them to increase. This fact is apparent 
from the detail in Table 8. 
Moreover, not only is there a tendency for ratios to decrease 
if they are high and to increase if they are low, but the net per- 
centage amounts of change vary directly with the percentage