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The survey is the first that was made in such detail by the FDIC. Somewhat similar studies had been made in the past, every two years, by the Federal Reserve System. The amount of money on deposit is considered a major factor in a community’s economic health. These funds, which are put back into circulation by the banks through loans to business concerns, | to prospective homeowners, to I automobile buyers and others, serve an important function, it is pointed out. As to the $3,199,000 on tap in Rappahannock County, if it were divided equally among the local population, it would ; amount to $639 per capita. By way of comparison, there was $583 per person available two years ago, when the former survey was made. I Savings accounts, especially, have been on the increase in recent months. People have been stashing away a bigger portion of their income than usual. : Nationally, they are putting it away at the rate of $34 billion per year. They are using some of it to reduce their outstanding debt. ; With their credit in good | shape and with their savings above average, they are in a financial position to do some real spending when they feel the time is right. At the moment, however, because of the economic uncertainties, they are scaling down their purchases of big-ticket items.
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