The Oklahoma system was from the first very popular. Until 1911, the state banks increased fast in number and deposits, while the national banks declined in number and increased their deposits but slightly. The crop failure of 1911, however, precipitated a financial crash; the speculative boom collapsed and dragged many banks into insolvency. The assessments to provide and maintain the guaranty fund became very onerous. Reduced to a percentage of the average capitalization of the banks for these years, the guaranty system cost the banks rather more than 3 per cent annually. The heavy burden in 1911 and 1912 led to the desire for escape from the guaranty system, an escape which nationalization offered to those banks that had sufficient capitalization. Hence practically all the larger banks and those in the large cities became national banks, leaving within the guaranty system only those banks that had too small a capitalization to become national banks.