NOTE: THIS DATA FILE WILL CHANGE! To improve accessibility of data for all users, we will convert this file from a text format to an html table by the end of June 2024. Title: Excess of New York Call Money Rate Over London Open Market Discount Rate Series ID: M13040M156NNBR Source: National Bureau of Economic Research Release: NBER Macrohistory Database (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1876-01-01 to 1938-12-01 Last Updated: 2012-08-20 8:19 AM CDT Notes: Source: Computed By NBER By Subtracting Series 13016 (London Open Market Discount Rate) From Series 13001 (New York Call Money Rate). This NBER data series m13040 appears on the NBER website in Chapter 13 at http://www.nber.org/databases/macrohistory/contents/chapter13.html. NBER Indicator: m13040 DATE VALUE 1876-01-01 1.99 1876-02-01 -0.01 1876-03-01 0.37 1876-04-01 1.81 1876-05-01 1.70 1876-06-01 1.02 1876-07-01 0.87 1876-08-01 0.70 1876-09-01 0.98 1876-10-01 2.09 1876-11-01 2.57 1876-12-01 3.51 1877-01-01 4.15 1877-02-01 1.86 1877-03-01 1.10 1877-04-01 1.99 1877-05-01 -0.28 1877-06-01 -0.65 1877-07-01 0.39 1877-08-01 1.55 1877-09-01 1.54 1877-10-01 2.10 1877-11-01 1.90 1877-12-01 2.61 1878-01-01 7.62 1878-02-01 3.09 1878-03-01 2.73 1878-04-01 3.66 1878-05-01 1.24 1878-06-01 0.56 1878-07-01 -1.02 1878-08-01 -2.34 1878-09-01 -1.92 1878-10-01 -0.20 1878-11-01 -0.89 1878-12-01 -0.54 1879-01-01 -0.27 1879-02-01 0.26 1879-03-01 2.42 1879-04-01 3.09 1879-05-01 2.65 1879-06-01 1.93 1879-07-01 2.03 1879-08-01 6.81 1879-09-01 4.47 1879-10-01 11.00 1879-11-01 6.53 1879-12-01 3.30 1880-01-01 3.26 1880-02-01 2.16 1880-03-01 4.45 1880-04-01 3.89 1880-05-01 1.15 1880-06-01 0.59 1880-07-01 0.68 1880-08-01 0.41 1880-09-01 0.43 1880-10-01 0.94 1880-11-01 4.07 1880-12-01 8.55 1881-01-01 1.61 1881-02-01 12.94 1881-03-01 4.98 1881-04-01 2.03 1881-05-01 1.50 1881-06-01 1.32 1881-07-01 1.99 1881-08-01 2.03 1881-09-01 1.90 1881-10-01 1.14 1881-11-01 1.32 1881-12-01 1.59 1882-01-01 1.21 1882-02-01 -0.62 1882-03-01 1.41 1882-04-01 1.56 1882-05-01 0.53 1882-06-01 1.28 1882-07-01 1.00 1882-08-01 0.78 1882-09-01 3.17 1882-10-01 1.62 1882-11-01 4.10 1882-12-01 0.74 1883-01-01 1.03 1883-02-01 1.01 1883-03-01 7.53 1883-04-01 3.23 1883-05-01 0.00 1883-06-01 -1.48 1883-07-01 -1.48 1883-08-01 -1.21 1883-09-01 -0.17 1883-10-01 0.37 1883-11-01 -0.16 1883-12-01 -0.56 1884-01-01 -0.46 1884-02-01 -1.33 1884-03-01 -1.00 1884-04-01 0.29 1884-05-01 13.28 1884-06-01 1.77 1884-07-01 0.73 1884-08-01 0.17 1884-09-01 0.31 1884-10-01 -0.77 1884-11-01 -2.70 1884-12-01 -2.69 1885-01-01 -2.57 1885-02-01 -2.09 1885-03-01 -1.97 1885-04-01 -1.29 1885-05-01 -0.01 1885-06-01 0.36 1885-07-01 0.56 1885-08-01 0.19 1885-09-01 -0.04 1885-10-01 0.78 1885-11-01 0.42 1885-12-01 -0.11 1886-01-01 0.04 1886-02-01 0.61 1886-03-01 1.03 1886-04-01 0.62 1886-05-01 0.85 1886-06-01 2.15 1886-07-01 1.17 1886-08-01 3.19 1886-09-01 3.52 1886-10-01 2.21 1886-11-01 2.49 1886-12-01 4.98 1887-01-01 0.91 1887-02-01 0.58 1887-03-01 2.60 1887-04-01 4.92 1887-05-01 4.13 1887-06-01 6.14 1887-07-01 3.36 1887-08-01 2.70 1887-09-01 1.48 1887-10-01 0.91 1887-11-01 1.54 1887-12-01 2.14 1888-01-01 1.85 1888-02-01 1.14 1888-03-01 1.26 1888-04-01 1.16 1888-05-01 -0.28 1888-06-01 0.26 1888-07-01 0.14 1888-08-01 -1.10 1888-09-01 -0.67 1888-10-01 -1.00 1888-11-01 -0.90 1888-12-01 -0.04 1889-01-01 0.58 1889-02-01 -0.24 1889-03-01 0.32 1889-04-01 2.19 1889-05-01 0.99 1889-06-01 1.58 1889-07-01 2.13 1889-08-01 1.02 1889-09-01 1.03 1889-10-01 4.55 1889-11-01 3.09 1889-12-01 4.23 1890-01-01 3.22 1890-02-01 -0.13 1890-03-01 1.34 1890-04-01 2.35 1890-05-01 3.06 1890-06-01 1.84 1890-07-01 0.72 1890-08-01 7.68 1890-09-01 2.81 1890-10-01 0.10 1890-11-01 1.31 1890-12-01 0.95 1891-01-01 1.58 1891-02-01 0.38 1891-03-01 0.45 1891-04-01 0.58 1891-05-01 0.33 1891-06-01 0.95 1891-07-01 0.62 1891-08-01 0.44 1891-09-01 2.20 1891-10-01 1.34 1891-11-01 1.21 1891-12-01 0.72 1892-01-01 0.32 1892-02-01 -0.30 1892-03-01 0.19 1892-04-01 0.80 1892-05-01 0.50 1892-06-01 0.52 1892-07-01 1.00 1892-08-01 1.03 1892-09-01 3.12 1892-10-01 3.86 1892-11-01 2.65 1892-12-01 4.92 1893-01-01 2.66 1893-02-01 1.41 1893-03-01 6.66 1893-04-01 3.22 1893-05-01 -0.10 1893-06-01 7.14 1893-07-01 6.23 1893-08-01 1.64 1893-09-01 1.15 1893-10-01 0.55 1893-11-01 -0.71 1893-12-01 -1.30 1894-01-01 -0.65 1894-02-01 -0.91 1894-03-01 -0.19 1894-04-01 -0.06 1894-05-01 0.02 1894-06-01 0.29 1894-07-01 0.35 1894-08-01 0.41 1894-09-01 0.45 1894-10-01 0.44 1894-11-01 0.22 1894-12-01 0.56 1895-01-01 0.73 1895-02-01 0.37 1895-03-01 1.09 1895-04-01 1.45 1895-05-01 0.53 1895-06-01 0.57 1895-07-01 0.81 1895-08-01 0.40 1895-09-01 0.92 1895-10-01 1.55 1895-11-01 0.80 1895-12-01 3.59 1896-01-01 3.84 1896-02-01 2.94 1896-03-01 2.76 1896-04-01 2.40 1896-05-01 1.63 1896-06-01 1.20 1896-07-01 1.43 1896-08-01 3.77 1896-09-01 3.70 1896-10-01 8.51 1896-11-01 2.60 1896-12-01 -1.39 1897-01-01 -0.91 1897-02-01 -0.25 1897-03-01 0.07 1897-04-01 0.25 1897-05-01 0.46 1897-06-01 0.25 1897-07-01 0.35 1897-08-01 -0.24 1897-09-01 0.20 1897-10-01 0.04 1897-11-01 -1.08 1897-12-01 -0.02 1898-01-01 0.05 1898-02-01 -0.91 1898-03-01 -0.78 1898-04-01 -0.63 1898-05-01 -1.32 1898-06-01 -0.23 1898-07-01 0.04 1898-08-01 0.29 1898-09-01 1.62 1898-10-01 -1.22 1898-11-01 -1.37 1898-12-01 -0.94 1899-01-01 0.38 1899-02-01 0.39 1899-03-01 1.72 1899-04-01 2.91 1899-05-01 1.29 1899-06-01 0.45 1899-07-01 1.28 1899-08-01 -0.29 1899-09-01 2.80 1899-10-01 2.86 1899-11-01 2.99 1899-12-01 4.99 1900-01-01 0.38 1900-02-01 -1.46 1900-03-01 0.06 1900-04-01 -0.97 1900-05-01 -1.53 1900-06-01 -0.92 1900-07-01 -1.81 1900-08-01 -2.58 1900-09-01 -2.22 1900-10-01 -0.32 1900-11-01 1.09 1900-12-01 1.11 1901-01-01 -1.08 1901-02-01 -1.77 1901-03-01 -1.35 1901-04-01 0.74 1901-05-01 3.20 1901-06-01 1.60 1901-07-01 1.78 1901-08-01 0.08 1901-09-01 2.02 1901-10-01 1.11 1901-11-01 0.80 1901-12-01 2.79 1902-01-01 1.54 1902-02-01 -0.37 1902-03-01 1.24 1902-04-01 2.34 1902-05-01 2.77 1902-06-01 0.21 1902-07-01 1.03 1902-08-01 1.08 1902-09-01 7.83 1902-10-01 4.21 1902-11-01 1.33 1902-12-01 2.91 1903-01-01 2.33 1903-02-01 -0.54 1903-03-01 2.34 1903-04-01 0.72 1903-05-01 -1.02 1903-06-01 0.21 1903-07-01 0.08 1903-08-01 -0.77 1903-09-01 -1.48 1903-10-01 -0.99 1903-11-01 1.19 1903-12-01 1.71 1904-01-01 -0.91 1904-02-01 -1.42 1904-03-01 -1.23 1904-04-01 -1.08 1904-05-01 -0.50 1904-06-01 -0.96 1904-07-01 -1.43 1904-08-01 -1.98 1904-09-01 -0.93 1904-10-01 -0.46 1904-11-01 -0.16 1904-12-01 0.29 1905-01-01 -0.26 1905-02-01 -0.28 1905-03-01 0.96 1905-04-01 1.18 1905-05-01 0.22 1905-06-01 0.49 1905-07-01 0.56 1905-08-01 0.14 1905-09-01 0.78 1905-10-01 1.33 1905-11-01 3.73 1905-12-01 12.79 1906-01-01 4.95 1906-02-01 0.77 1906-03-01 1.38 1906-04-01 6.30 1906-05-01 0.47 1906-06-01 -0.09 1906-07-01 -0.18 1906-08-01 1.22 1906-09-01 5.34 1906-10-01 0.02 1906-11-01 1.65 1906-12-01 8.23 1907-01-01 1.28 1907-02-01 -0.36 1907-03-01 1.42 1907-04-01 -1.29 1907-05-01 -0.95 1907-06-01 -0.67 1907-07-01 1.01 1907-08-01 -1.18 1907-09-01 0.10 1907-10-01 16.73 1907-11-01 5.80 1907-12-01 8.69 1908-01-01 0.56 1908-02-01 -1.78 1908-03-01 -0.96 1908-04-01 -0.84 1908-05-01 -0.46 1908-06-01 0.18 1908-07-01 -0.06 1908-08-01 -0.36 1908-09-01 -0.09 1908-10-01 -0.47 1908-11-01 -0.48 1908-12-01 0.66 1909-01-01 -0.68 1909-02-01 0.00 1909-03-01 -0.27 1909-04-01 0.58 1909-05-01 0.44 1909-06-01 0.12 1909-07-01 0.67 1909-08-01 0.72 1909-09-01 1.17 1909-10-01 0.83 1909-11-01 0.42 1909-12-01 1.31 1910-01-01 1.78 1910-02-01 0.48 1910-03-01 -0.29 1910-04-01 -0.52 1910-05-01 0.15 1910-06-01 0.12 1910-07-01 0.34 1910-08-01 -1.12 1910-09-01 -1.08 1910-10-01 -0.95 1910-11-01 -1.19 1910-12-01 -0.19 1911-01-01 -0.52 1911-02-01 -0.82 1911-03-01 -0.09 1911-04-01 -0.19 1911-05-01 0.12 1911-06-01 0.21 1911-07-01 0.33 1911-08-01 -0.34 1911-09-01 -1.06 1911-10-01 -1.43 1911-11-01 -0.73 1911-12-01 0.23 1912-01-01 -1.21 1912-02-01 -1.09 1912-03-01 -1.02 1912-04-01 -0.37 1912-05-01 -0.18 1912-06-01 -0.11 1912-07-01 -0.07 1912-08-01 -0.38 1912-09-01 1.00 1912-10-01 0.92 1912-11-01 1.56 1912-12-01 1.65 1913-01-01 -1.60 1913-02-01 -1.46 1913-03-01 -0.59 1913-04-01 -0.47 1913-05-01 -0.96 1913-06-01 -1.97 1913-07-01 -1.91 1913-08-01 -1.58 1913-09-01 -0.99 1913-10-01 -1.23 1913-11-01 -1.16 1913-12-01 -0.24 1914-01-01 -0.65 1914-02-01 -0.37 1914-03-01 -0.25 1914-04-01 -0.18 1914-05-01 -0.98 1914-06-01 -0.63 1914-07-01 -0.04 1914-08-01 1.04 1914-09-01 2.47 1914-10-01 2.81 1914-11-01 2.50 1914-12-01 0.59 1915-01-01 . 1915-02-01 . 1915-03-01 . 1915-04-01 . 1915-05-01 . 1915-06-01 . 1915-07-01 . 1915-08-01 . 1915-09-01 . 1915-10-01 . 1915-11-01 . 1915-12-01 . 1916-01-01 . 1916-02-01 . 1916-03-01 . 1916-04-01 . 1916-05-01 . 1916-06-01 . 1916-07-01 . 1916-08-01 . 1916-09-01 . 1916-10-01 . 1916-11-01 . 1916-12-01 . 1917-01-01 . 1917-02-01 . 1917-03-01 . 1917-04-01 . 1917-05-01 . 1917-06-01 . 1917-07-01 . 1917-08-01 . 1917-09-01 . 1917-10-01 . 1917-11-01 . 1917-12-01 . 1918-01-01 . 1918-02-01 . 1918-03-01 . 1918-04-01 . 1918-05-01 . 1918-06-01 . 1918-07-01 . 1918-08-01 . 1918-09-01 . 1918-10-01 . 1918-11-01 . 1918-12-01 . 1919-01-01 . 1919-02-01 . 1919-03-01 . 1919-04-01 . 1919-05-01 . 1919-06-01 . 1919-07-01 . 1919-08-01 . 1919-09-01 . 1919-10-01 . 1919-11-01 . 1919-12-01 . 1920-01-01 . 1920-02-01 . 1920-03-01 . 1920-04-01 . 1920-05-01 . 1920-06-01 . 1920-07-01 . 1920-08-01 . 1920-09-01 . 1920-10-01 . 1920-11-01 . 1920-12-01 . 1921-01-01 . 1921-02-01 . 1921-03-01 . 1921-04-01 . 1921-05-01 . 1921-06-01 . 1921-07-01 . 1921-08-01 . 1921-09-01 . 1921-10-01 . 1921-11-01 . 1921-12-01 . 1922-01-01 . 1922-02-01 . 1922-03-01 . 1922-04-01 . 1922-05-01 . 1922-06-01 . 1922-07-01 . 1922-08-01 . 1922-09-01 . 1922-10-01 . 1922-11-01 . 1922-12-01 . 1923-01-01 . 1923-02-01 . 1923-03-01 . 1923-04-01 . 1923-05-01 . 1923-06-01 . 1923-07-01 . 1923-08-01 . 1923-09-01 . 1923-10-01 . 1923-11-01 . 1923-12-01 . 1924-01-01 . 1924-02-01 . 1924-03-01 . 1924-04-01 . 1924-05-01 . 1924-06-01 . 1924-07-01 . 1924-08-01 . 1924-09-01 . 1924-10-01 . 1924-11-01 . 1924-12-01 . 1925-01-01 -0.45 1925-02-01 -0.38 1925-03-01 -0.43 1925-04-01 -0.41 1925-05-01 -0.72 1925-06-01 -0.48 1925-07-01 -0.27 1925-08-01 0.27 1925-09-01 0.97 1925-10-01 1.29 1925-11-01 0.80 1925-12-01 0.55 1926-01-01 -0.43 1926-02-01 0.59 1926-03-01 0.16 1926-04-01 -0.28 1926-05-01 -0.57 1926-06-01 -0.11 1926-07-01 0.02 1926-08-01 0.06 1926-09-01 0.48 1926-10-01 0.07 1926-11-01 -0.16 1926-12-01 0.61 1927-01-01 0.17 1927-02-01 -0.17 1927-03-01 -0.17 1927-04-01 0.14 1927-05-01 0.38 1927-06-01 -0.02 1927-07-01 -0.28 1927-08-01 -0.65 1927-09-01 -0.51 1927-10-01 -0.41 1927-11-01 -0.71 1927-12-01 0.06 1928-01-01 0.08 1928-02-01 0.18 1928-03-01 0.35 1928-04-01 1.06 1928-05-01 1.71 1928-06-01 2.50 1928-07-01 2.05 1928-08-01 2.60 1928-09-01 3.05 1928-10-01 2.64 1928-11-01 2.26 1928-12-01 4.21 1929-01-01 2.73 1929-02-01 2.07 1929-03-01 3.76 1929-04-01 3.67 1929-05-01 3.69 1929-06-01 2.37 1929-07-01 3.85 1929-08-01 2.75 1929-09-01 2.88 1929-10-01 0.28 1929-11-01 0.10 1929-12-01 0.08 1930-01-01 0.58 1930-02-01 0.54 1930-03-01 1.06 1930-04-01 1.49 1930-05-01 0.98 1930-06-01 0.28 1930-07-01 -0.18 1930-08-01 0.01 1930-09-01 0.12 1930-10-01 -0.09 1930-11-01 -0.19 1930-12-01 -0.13 1931-01-01 -0.68 1931-02-01 -1.08 1931-03-01 -1.04 1931-04-01 -1.06 1931-05-01 -0.78 1931-06-01 -0.61 1931-07-01 -1.19 1931-08-01 -2.79 1931-09-01 -3.13 1931-10-01 -3.59 1931-11-01 -3.27 1931-12-01 -3.18 1932-01-01 -2.91 1932-02-01 -2.00 1932-03-01 -0.09 1932-04-01 0.31 1932-05-01 1.12 1932-06-01 1.45 1932-07-01 1.18 1932-08-01 1.24 1932-09-01 1.32 1932-10-01 0.53 1932-11-01 0.09 1932-12-01 -0.11 1933-01-01 0.15 1933-02-01 0.17 1933-03-01 2.69 1933-04-01 0.77 1933-05-01 0.49 1933-06-01 0.48 1933-07-01 0.52 1933-08-01 0.56 1933-09-01 0.30 1933-10-01 -0.04 1933-11-01 -0.30 1933-12-01 -0.22 1934-01-01 -0.01 1934-02-01 0.04 1934-03-01 0.07 1934-04-01 0.04 1934-05-01 0.09 1934-06-01 0.08 1934-07-01 0.14 1934-08-01 0.21 1934-09-01 0.29 1934-10-01 0.23 1934-11-01 0.53 1934-12-01 0.42 1935-01-01 0.64 1935-02-01 0.63 1935-03-01 0.43 1935-04-01 0.05 1935-05-01 -0.34 1935-06-01 -0.49 1935-07-01 -0.37 1935-08-01 -0.35 1935-09-01 -0.33 1935-10-01 -0.35 1935-11-01 0.18 1935-12-01 0.01 1936-01-01 0.20 1936-02-01 0.20 1936-03-01 0.20 1936-04-01 0.20 1936-05-01 0.38 1936-06-01 0.18 1936-07-01 0.42 1936-08-01 0.45 1936-09-01 0.45 1936-10-01 0.44 1936-11-01 0.43 1936-12-01 0.13 1937-01-01 0.44 1937-02-01 0.45 1937-03-01 0.45 1937-04-01 0.45 1937-05-01 0.45 1937-06-01 0.28 1937-07-01 0.44 1937-08-01 0.45 1937-09-01 0.45 1937-10-01 0.45 1937-11-01 0.39 1937-12-01 0.26 1938-01-01 0.46 1938-02-01 0.47 1938-03-01 0.47 1938-04-01 0.47 1938-05-01 0.46 1938-06-01 0.40 1938-07-01 0.45 1938-08-01 0.47 1938-09-01 0.15 1938-10-01 0.31 1938-11-01 0.32 1938-12-01 0.01