The "all other deposits" are vastly greater than retail and wholesale deposits combined! Notice, too, with reference to the question as to how often goods need to be turned over in getting to the consumer: wholesale trade uses only about twice as much money and checks as does retail trade. Goods are not, if these figures are in any way typical of actual trade, turned over many times in the process of reaching the consumer. The "necessary," or "physically determined" number of exchanges, in the routine of trade, is small, per item. Retail deposits of 60 millions make up less than one-eleventh of the total. Retail and wholesale deposits together make up about three-elevenths. What is the other eight-elevenths, represented by the "all other deposits"? It will help if we see where these "all other" deposits are located. If we find them scattered evenly throughout the country, in rural regions as well as in cities, we might be at a loss. If, however, we find them bunched in the big speculative centres, we may conclude that speculation accounts for a large part of them. We do in fact find this. The following figures show the different classes of deposits (1) in the South Atlantic States; (2) in reserve cities; (3) in New York City alone: _South Atlantic States:_ _Per Cent._ Retail deposits $ 3,300,000 19.0 Wholesale deposits 4,900,000 29.0 "All other" deposits 8,900,000 52.0 _Reserve Cities (including New York City):_ Retail deposits $ 24,000,000 5.6 Wholesale deposits 78,000,000 18.2 "All other" deposits 326,000,000 76.1 _New York City:_ Retail deposits 9,000,000 3.7 Wholesale deposits 34,000,000 14.0 "All other" deposits 198,000,000 82.2 It is difficult, with Kinley's figures, to get figures which exclude returns from cities of substantial size, except for a State like Nevada, where the mining and divorce industries complicate the figures. As near an approach as can be made, perhaps, is to take the State of Louisiana, excluding New Orleans from the totals. Even here, however, we include five cities of over ten thousand, among them Shrevesport, with 28,000 people. The following figures are for the State and national banks in Louisiana, exclusive of New Orleans: Retail deposits $179,915 24.1 Wholesale deposits 246,647 33.1 "All other" deposits 318,915 42.8