By C.E. Williams, Johnston County
Department of Rural Social Economics, University of North Carolina
Based on Report of the Comptroller of the Currency of December 4, 1922, covering (1) the total capital and surplus in all banks, national, state, private, and loan and trust companies, (2) divided by the total population of each state. United States average $50.91; North Carolina average $20.60 per inhabitant.
New York State was first in the nation, with $120.50 bank capital per inhabitant, followed by Pennsylvania with $76 per inhabitant. At the bottom were Oklahoma, $23.6; North Carolina, $20.6; Arkansas, $18.4; and Mississippi with just $14.3 per inhabitant in bank capital.
From The University of North Carolina News Letter, Chapel Hill, N.C., July 11, 1923
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