Abstract
The discussion in previous articles by Schneider and Sayers of the factors that determine the level of bank deposits has brought closer together the conflicting views still held on some aspects of this question. In the present article the author takes this as his starting point for restating and qualifying his views concerning the importance of the influence of the behaviour of the public on the volume of deposits, and the limits of the neutralising powers of the Central Bank. The author concludes by expressing the hope that further investigations may be made of the actual quantitative importance, at different times and in different countries, of the several factors determining the volume of deposits. As an introduction to such enquiries, the author sets forth in a Postscript, some methodological details. In contrast to the practice followed by Schneider in similar studies, he re-emphasises the advisability of including savings and time deposits, in order to obtain a picture of the true magnitude of the influence exerted on the volume of deposits by the public.
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