But since at any given time there are different conditions in different communities, the banker has always open to him the option of shifting his funds from one community to another. He may transfer his funds to New York, let us say, and there lend them in the call market at a time when there is a great scarcity of funds in that market, thereby taking for himself a larger profit than he could get at home. Or, he may think it well to buy a certain amount of paper made by outsiders, thus keeping a part of his funds regularly in the general commercial-paper market. He may do this in the belief that such paper, although it actually yields less than the paper of his own customers, is desirable for him because it is rediscountable, or because it is more certain of payment at maturity, since no renewal is expected. There is always open, therefore, to the banker, the distribution of his funds between varying uses which yield different rates of interest, and his distribution of funds will be determined very largely by his own judgment as to the needs of his community, coupled with a comparison of the earnings that can be made at home and those which can be made elsewhere. There is thus always to be recognized a long-term and a short-term rate in every community, while we may also recognize a customer's rate and an open-market rate. As between the latter there is no necessary relationship. One may be higher than the other, or lower, according to circumstances, although the competition and quality of the paper in the open market are such that the rate on paper of that kind is normally below the rate charged direct to the customer except in the case of the very primest names.