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CHANGES IN DEMAND DEPOSITS AND CURRENCY AND RELATED FACTORS DURING SELECTED PERIODS, I92O-I9I4 .I. (In billions of dollars) / All figures are increases except -where preced£by a minus sign. June 1920 to June 1929 Demand deposits-adjusted Currency outside banks Total U. S, Government securities Other loans and investments Total loans and investments Gold stock Treasury currency (silver stock) Total Notes June 1929 to June 1933 - 7.1 10.0 .7 10 .7 H+.5 3« 1 17.6 2.5 6.6 3-3 - 8.2 2.6 1 .1 ]?•$ 1.2 June 1933 June 1938 to to June 1938 Sept. 19^4! 11.9 13.1 -21.6 -19 .1 1.5 •3 1.8 ♦3 •3 •3 6.1; 5.5 6.9 11.9 8.9 •I* 9.3 9.8 .5 10.3 The figures of deposits and currency on the one hand, and loans and investments, gold and silver on the other, do not balance because 1. The table omits time deposits, in »enym»r<»aBl anri gflyingn banka) loans and investments in savings banks, capital accounts, *w£ net changes in interbank accounts; 2. Part of the imports of gold do not result in additions to member bank reserves but in foreign bank deposits and other F. R. accounts; 3. Part of the change in member bank reserves is offset by changes in Reserve Bank credit, Treasury cash, and Treasury deposits with Federal Reserve Banks; ij.. The increment of 2,8 billions resulting from the revaluation of gold in I93J4. increased Treasury cash, not member bank reserves.
@FedFRASER