Within recent years significant additions have been made to the theory of the multiplier in its application to the study of income movements among economic systems. It is the object of this paper to introduce a graphical method into the analysis of the bi-system multiplier, to develop a generalized formulation of the bi-system multiplier of which the formulas presented up to now are special cases, and to indicate a variety of uses (in addition to the familiar use in foreign trade problems) to which the concept may be put.