The T-carrier system is entirely digital, using pulse code modulation and Time-Division Multiplexing. The system uses four wires and provides duplex capability (two wires for receiving and two for sending at the same time). The T-1 digital stream consists of 24 64-Kbps channel that are multiplexing. (The standardized 64 Kbps channel is based on the bandwidth required for a voice conversation.) The four wires were originally a pair of twisted pair copper wires, but can now also include coaxial cable, optical fiber, digital microwave, and other media. A number of variations on the number and use of channels are possible.
In the T-1 system, voice signals are sampled 8,000 times a second and each sample is digitized into an 8-bit word. With 24 channels being digitized at the same time, a 192-bit frame (24 channels each with an 8-bit word) is thus being transmitted 8,000 times a second. Each frame is separated from the next by a single bit, making a 193-bit block. The 192 bit frame multiplied by 8,000 and the additional 8,000 framing bits make up the T-1's 1.544 Mbps data rate. The signaling bits are the least significant bits per frame.
You can compare these rates using this data
rates page.