Full text of Treasury Bulletin : April 1939
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2
COPY
LIBRARY
ROOM 5030
JUN
9 1 1972
TREASURY DEPARTMENT
No.
BULLETIN
OF THE
TREASURY DEPARTMENT
APRIL
1939
Analysis of Receipts and Disbursements
Composition of the Public Debt
Capital Movements and Monetary Data
Other Treasury Statistics
LIBRARY
ROOM 5030
TREASURY DEPARTMENT
REFERENCE
To be used
in Treasury-
Library
OFFICE OF THE SECRETARY
JUN
?.
1
1972
TREASURY DEPARTMENT
BULLETIN
OF THE
TREASURY DEPARTMENT
APRIL
1939
Analysis of Receipts and Disbursements
Composition of the Public Debt
Capital Movements and Monetary Data
Other Treasury Statistics
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Table of Contents
Receipts and Expenditures
First Nine Months of Flsoal Years 193^-39
Expenditures by Classes, Reoelpts by Sources
Soolal Insurance Aocounts
Cash Income and Outgo
General Fund and Public Debt
Composition of the General Fund
Composition of the Public Debt
Net Market Transactions of Treasury Investment Accounts
Holdings of Government Obligations
Computed Interest and Yields on Public Debt Issues
Government Corporations and Credit Agencies
Assets, Liabilities and Proprietary Interest
Sources and Uses of Funds
Issues Outstanding
International Capital Movements
Summary Table
Short-term Foreign Assets and Liabilities
Seourlty Transactions and Brokerage Balances
Foreign Exchange Transactions
Other Monetary Data
Gold and Silver Stocks
Sliver Production, Movements and Seigniorage
Foreign Exchange and Price Data
Miscellaneous
Commodities Imported Under Quota
Law Enforcement Statistics
2
3-7
8-9
10
13
l^
1*
16
17-19
21
22-23
2«V
26
28-29
30-31
32-33
35 _ 37
37-38
39-4-0
l
The two tables on tariff duties. Import taxes and values of dutiable imports
which normally appear in the Bulletin are omitted from this issue because of unavoidable delay in compilation of the figures. They will appear next month.)
(NOTE:
,
*
2
'3
RECEIPTS
AND
-l-
EXPENDITURES
Summary Tables on Receipts, Expenditures and Public Debt
(In millions of dollars - on basis of dally Treasury statements, unrevlsed.)
.
Summary of Federal Receipts and Expenditures
(In millions of dollars - on basis of dally Treasury statements, unrevleed) 1/
Receipts
Expenditures
Internal revenue
Total
Income
tax
Social
Security
Miscellaneous
receipts
Other
General
2/
Recovery Revolving
and
funds
relief
(net)
Transfers
to trust
accounts
etc.
3/
Fiscal years
ended June 30
2 ,00b
2,080
3,11b
3,800
4,11b
5.294
6,242
1.5bl
l,b04
2.b41
3.278
3.513
4,598
5,b75
1.057
746
818
1.099
1.427
2.158
2.635
1938-Mar...
959
919
723
Apr...
May...
June.
273
375
774
2J8
3&0
7^0
49
40
550
34
131
July..
Aug...
Sept..
487
711
265
446
671
"7
32
498
32
131
Oct . .
Hot...
Sao...
332
382
704
284
340
b64
41
36
481
34
129
St
264
380
693
1932
1933
1934
1935
1936
1937
1938
1939 -Jan..
Feb...
Mar...
737
253
755
5
,
3
,
48
3
56
43
182
506
4
504
658
1,823
2.179
2,08b
2,187
2.285
328
387
48b
359
117
225
162
179
21b
210
208
193
26
155
169
185
24
22
22
186
283
170
209
175
180
173
142
183
4,948
4,325
6.371
62
74
7.583
9.069
8.54b
7.691
625
385
2.763
3.369
3.441
3.073
2.238
14
752
196
18
10
12
12
64 3
569
937
202
206
314
l!
12
23
29
29
24
13
11
763
683
765
216
236
243
13
10
31
17
14
15
71
678
870
262
248
307
10
27
25
24
22
29
20
16
15
693
662
879
257
254
297
6
10
251
313
343
J
496
345
11
204
121
5
7
6
6
221
Excess of
receipts (+)
or expendiDebt
tures (-)
retirement
'
Federal Expenditures
-
Recovery and Relief
(In millions of dollars - on basis of dally Treasury statement, unrevleed)
Public works, including work relief
Total
Agricultural
Aid
Belief
Other
Aid to
hose
owners
Miscellaneous
Fiscal years
ended June 3°
193?1933-
193»
1937.
1938-
625
3«5
2.763
3.369
3.441
3.073
2.238
1,264
1.896
1.472
44
U9U
816
78U
2?
JU2
i
LI
2.3 1»8 1/
985 1/
78
6
196
11*5
20
202
206
314
146
158
166
21
25
29
July.
Sept.
216
2 36
243
172
193
19U
26
24
36
Oct.
Hot.
Sec.
262
248
307
207
19U
219
3
1939-Jan.
257
25U
297
185
160
201
63
9
bi
3
Aug..
Feb.
Mar.
1/
2/
'
)
(
1W
215
64
170 2/
Apr..
May..
June.
19 38 -Mar.
500
303
182
(21
7
23
11
102 2/
23
20
17
15
10
9
o
o
13
10
11
73
(1)
14
ED
32
Includes funds expended for Civilian Conservation Corps during these years.
Includes $94,000,000 restoration of capital impairment of Commodity Credit Corporation.
Lees than $500,000.
Indicates excess of credits, deduct.
Federal Expenditures
-
Revolving Funds (Net), and Transfers to Trust Accounts, etc.
(In Billions of dollars - on basis of daily Treasury statement, unrerleed)
Be vol ring funds (net)
Period
Agricultural
Aid
Total
fiscal years
ended June y>
1932
1933
193»
1935
1936
1937
1938
6c
t
U
204
121
1938-Mar
18
Apr
May
June
J
12
July
Aug
Sept
Oct
Bov
Dec
1939-Jan
feb
Mar
*
(
)
Lees than $500,000.
Indicates excees of credits, deduct
5
13
10
10
,
b
,
1
10
6
62
Publlo
Works
Transfers to trust accounts, etc.
Old-Age
Reserve
Account
Government
Adjusted
Employees
Railroad
Service
Retirement Certificate Retirement
funds
Account
fund
(U.S. share)
Collections of Internal Revenue
(In thousands of dollars
Sources of Revenue
-
on basis of reports of collections)
6
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
Income and Profits
IndiTldual
Payroll Taxes
Social Security Act
Corporation 1/
Title VIII
Title
Carriers'
Taxing Act
of 1937
I3t
Fiscal year ended June 30
1929
1930
1931
1932
1933
2. 939.051*
3.0l*O.lU6
2,428,229
1.557.729
1,619.839
2.672.239
193>*
••
1935
1936
1937
1938
3.299."»36
2,331.271*
2,1*10.259
l,S60,Ol*0
1.056,757
746,791
819,656
1.105.791
1.095,5Ul
1.235.733
l.li*6.Sl*5
1,263.1*1U
833,61*8
1*27.191
1.026.393
629,566
39U.21S
352.574
U19.509
527.113
1,286.312
578.678
753.032
1.082,028
1.336.501
265, 71*5
71*2,660
207.339
502.917
58,119
90,267
11*9,1*76
1*03.635
311.969
3.>*70
1,016
2.358
96
lU.905
17.839
257.986
33.900
21*. 653
292.757
91.283
73.859
70.092
56.957
1*10
,781*
14,781
12,118
328
592
7
3.520.208
653. 195
5.658.765
1,1*27,1*1*2
6711,1*16
2.173.769
2,622,813
1,091,71*1
1938-Mar
916.91*5
715. 60U
Apr
May
1*8,805
277.765
1*2,1*92
June
7>*7.295
550.7>*3
•*.
302,1*76
1*00,11*7
U8
>*8
It,
>*.927
287
July
Aug
350,426
362,286
1*2,923
11.999
30.921*
34.609
12.761*
682, 5UU
1*95.51*8
227.573
21,8U5
267.975
77.707
85.736
2.86U
61,026
65,608
2.074
181
509
779
11,500
lU.619
Sept
Oct
Hot
Dee
315,061
304.572
662,252
1*2,162
9.1*68
36.U91
12.513
7.287
4.731
1"*,939
12.61*7
213, b22
81,508
81.979
2,939
59,282
1*81,509
32.69U
23.978
267.887
1939-Jan
Feb
Mar
315. 8U5
51.598
19.067
32.333
291.215
32.531
25.191
207.259
98.992
125,870
3.855
333.517
57.52"*
691,1*01
1*98,1*71*
6l»,fe01
2,l*lU
1*83
1*2
59.035
25,150
ll*,807
7 i*.571
37.69"*
2.U1C
1.7"*7
13,605
-302
Miscellaneous Internal Revenue
Capital
stock
Estate
and
Gift
Manufac-
Alcoholic
beverages
Stamp
turers'
excises
11
Miscellaneous
Unjust
enrichment
Agricultural
Adjustment
2/
Fiscal year ended June 30
607,780
629,887
568,189
500,972
1929.
1930.
1931.
1932.
1933.
873.01*8
61.897
61*. 770
12.777
11.695
1*31*. 1*1*5
61*.
173
77.729
166
"*50.339
1*8,078
1*7,422
10,1*32
8,701*
i*l*U.277
1*6,951*
13s
31*. 310
113.138
212,112
398.579
402.739
258.911
111 1.022
32.2U1
57.578
66,580
247.751
390.038
"•3.133
3 1*2.275
1*3.171*
193"*.
1,1*81.
19351936.
1937.
1938.
1. 667,1*23
80,168
91,508
2.021.075
2.207.608
2,287.075
137.1*99
139.3"*9
378,81*0
305.51*8
1*16,874
196.277
2U7
62,686
1*3,
Apr..
May..
June.
162.061
160. 952
190.879
166
25,526
2U.923
38.550
July.
Aug..
Sept.
228.760
21*1,655
183,1*34
50,822
60,362
11.653
Oct.
Nov.
Dec.
191,131*
185.659
177.0U1
1939-Jan.
164,858
Feb.
Mar.
11*9.685
188,771
1938-Mar.
1/
2/
l60
9U,9l*3
lit?
275
25,61*5
1*25,169
U59.179
501.166
34,322
25,010
18,310
lit, 026
87,1196
11*7,156
108,191*
371.1*23
526.222
71.637
68.990
69.9i9
379.5"*o
Uit9,85U
92,132
98.289
1*6,233
U16.75U
131.701*
6.073
6,217
"»7.855
2,911*
26.71U
12.U11
1.59^
3.>»53
3>t.367
44,203
"*3.583
"»9.633
2,928
50,862
2,91*8
27.727
31.U08
327
U62
5"*.0l*9
12.931
11.396
12.787
3.373
U.078
3.029
34.344
1U.675
12,520
13,962
I.O36
286
698
31.517
31.399
31.087
15,060
257
15,2ll8
1*1*3
12.951
763
3*».355
I3.O3U
13.556
12,178
1*38
505,1*61*
59>*.2>t5
567.979
552. 25"*
568. 182
U50
1*2,035
52,1*1*0
"*7.1»bl
27,296
52.522
5U,l*32
22,51*1*
lt7,2l*lt
50.952
2.552
37.519
3.592
29.321*
5"*. 603
57.573
51.270
1*6,291
36U
322
••7.539
1*3.815
U, 212
300
161*
27.828
22.062
213
1*2,1*61
••7.359
"•0.837
1*9,321
3.831
3.198
3.126
33.701
31*1*
38,151
35.918
U7.356
3.895
30,1*1*5
34.050
33.950
3"*.116
Including excese-proflte tax collections.
Including tax collections under the Sugar Act of 1937 and under the dividends tax Imposed by the Act of June 16, 1933.
7^
397
301
3
O
C/3
ca
I
5
o
2.
a 5=
m
m
m
m
m
m
Receipts and Expenditures under Social Security Act
(In millions of dollars - on basis of dally Treasury statements, unrevlsed)
Employment
taxee
Title VIII
fiscal Tear
Expenditures
Receipts
{/-
Tax on Employers of
8 or more,
(Title IX,
Total
Receipts
Sec. 901)
1936
1937
1938
AdminisUnemployment
trative
Expenses compensation
adminisi/
tration
01d-A«e
Assist-
Total
grants
ance,
etc.
states
30.0
38.0
38.0
33-0
77.9
6.8
38.0
30.6
8.0
11
38.1
20.3
11.
U7.2
26.6
12.3
32.0
32.0
32.0
81.0
60.3
U5.9
U.6
2.6
2.2
26.2
21.6
19.3
30.8
2U.2
21.5
37-0
50.0
50.0
69.5
76.0
73-2
15-9
1»0.2
199-0
239-2
52.3
92.2
613.2
705.1*
252.2
604.U
28.8
97.8
2.2
2.6
8.0
31.3
5
2.7
1,
30.6
33-5
102.8
3-0
1,
2.5
2.9
7.1
•5
28.9
102.2
2.2
12.9
52.1
1.7
15U.U
390.9
88.2
*79.1
1.099.6
236.1
1.335.7
.
Oct..
Nov..
Dec.
95-7
Jan.
Feb..
Max..
Total fiscal year 1939 to date.
Grand total
Hote:
1/
2/
J_/
•
9-1
U1.9
1?
?0
8.0
5.8
1.2
1,
105.
1,
1,
21*.
1.
U.7
1.7
1.8
1.7
3-9
28.
to?.
719.1
27.5
166.9
271.5
57.8
90.1
Aug.
Sept.
to
2b.9
157.8
229.6
•9
19U.3
51U.C
1939-Juiy.
Refunds to
Transfers
states of
Total
taxes col- to Old-Age Expendilected under Reserve
tures
Title IX, Sec, Accounts
(Title II)
2/
901 2/
Grants to States
265.0
387.0
140.6
Uo.6
70.
1*2.8
3U2.0
597.1
99U.0
1.792.3
Figures In this and four succeeding tables are rounded to nearest tenths of millions and will not necessarily add to totals.
Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act. Does not
Include administrative expenses payable from other appropriations. The principal agencies In the latter group are the Bureau of Internal
Revenue and the Public Health Service of the Treasury Department, and the Office of Education of the Department of Interior.
$1*0,561,886.1*3 appropriated in fiscal year 1938 for making refund to certain states of portions of employers' tax for the calendar year
I936 collected under Title IX, Section 901 of the Social Security Act.
Excludes expenditures from the appropriation of $6,902.1*91 made to the "Railroad Unemployment Insurance Administration Fund," to date.
This appropriation is equivalent to the amount that carriers have paid for the fiscal years 1936 and 1937 under Title IX. Section 901 of
the Social Security Act.
Old-Age Reserve Account
(In millions of dollars - on basis of daily Treasury statements, unrevlsed)
Expenditures
Receipts
Cumulative as of end
of Flscel Tear
or of month
1936
1937
Unexpended
Appropriations by Congress
Transfers
from
general fund
Balance avallable for
transfers
Total
Total
Receipts
Investments
1938
265.O
652.0
113.0
265.0
765.O
2.3
17.7
2b7
782
1939-July.
Aug..
Sept.
6oo.o
728.0
761.O
U35.O
397.0
36U.O
1,125.0
1,125.0
1,125.0
17.7
17.7
17.7
1.11*2
Oct..
Nov..
332.0
300.0
268.0
1,125.0
1,125.0
1,125.0
17.7
17.7
17.7
1.1U2.7
Dec.
793-0
825.0
857.0
Jan.
Feb..
Mar..
89U.O
9UU.0
99U.O
231.0
181.0
131.0
1,125.0
1.125.0
1,125.0
17.7
17.7
17.7
1/
Benefit
Payments
267.1
662.3
7.9
1.136.5
1.135.6
1,13U.
9.0
10.0
11.1
12.2
13.3
lU.B
6.2
7.0
1,11*2
1.11*2.7
1,11*2.7
1.1U2.7
1,11*2.7
1,11*2.7
Investments
267.2
777.2
5. 1*
1,11*2
Total
To credit of
disbursing
officers
priations 1/
To credit
of appro-
.1
.1
113.0
1.9
700.3
733-3
766.3
1*35.0
1.2
397.0
36U.0
1:1
1.133.7
1.132.7
1,131.6
798.3
830.3
862.3
332.0
300.0
268.0
a
1.130.5
1,129.3
1.127-9
891*. 3
231.0
181.0
131.0
U.O
2.6
9UU.3
99U.3
1.3
Includes balance of appropriation available for transfers.
Unemployment Trust Fund
(In millions of dollars - on basis of daily Treasury statements, unrevlsed)
Receipts
Cumulative as of end of fiscal
year or of month
1936
1937
1938
Deposit* by
States 1/
Total
Receipts
Withdrawals
by States
.1
18.9
310.6
1,058.2
2.8
18.0
1.076.2
1939-Juiy.
Aug..
1.093-7
1,225.0
1,260.1*
18.0
18.0
18.0
1.111.7
Sept.
Oct..
Kov.
1,298.1*
1,1*23.5
1,1*1*1.6
386.8
Dec.
1.1*60.1*
18.1
18.1
18.1
1.1*78.6
1*06.3
Jan.
Feb..
Mar..
1,1*99.2
30.0
30.0
30.1
1.529.2
1.677.5
1.711.5
>»39.6
1/
18.
I.6U7.5
1.681.
Balance
Expenditures
Interest on
Investments
Investments
18.
312. U
18.
1.0
192.0
88U.2
227-9
280.7
320.7
883.8
962.U
957.7
95"».0
1.278.U
950.0
7.
1.316.6
360. 1*
956.2
l,05U.
1.072.3
936.0
1.032.0
1.O6U.0
20.
1,089.6
1,201.9
1,192.0
l,07i*.0
313.1*
1.21*3.0
Includes in 1938 the proceeds of refunds to States of taxee collected under Title IX,
to $1*0.561.886.1*3.
U75.6
519.5
312.3
872.0
12.2
872.0
11
1,185.0
1.185.0
Section 901 of the Social Security Act. amounting
.1
8.
22.
8-3
15.6
16.9
7-0
9
Receipts and Expenditures Under Railroad Retirement Act
(In millions of dollars
-
on basis of dally Treasury statements, unrevlsed)
Expenditures
Beeelpts
Taxes upon
carriers and
their employees
fiscal Tear
1936
1937
1938
administrative
Expenses
Transfers to
Railroad Retirement Aoct.
Total
Expenditures
3
3
150.1
A
1939-July
Aug
11.5
16.5
16.5
11.7
16.7
16.8
3
•3
1.5
1.8
•3
18.0
18.3
81.
2.U
107.0
109.
232.2
6.7
253.U
260.1
3
Oct
Hot
Dec
.8
.2
26.5
.2
Jan
7eb
Mar
27.5
•
•9
Grand total
3
•
Includes Railroad Unemployment Insurance Aot.
Railroad Retirement Account
(In millions of dollars - on besle of dally Treasury statements, unrevlsed)
Cumulative ae of end of
Fiscal year or of month
1.5
1U9.0
22.2
9-7
.2
.2
•
Total flsoal year 19 39 to date
3
1U6.U
22.0
9-5
11.5
25.5
Sept
Note:
1-5
2.6
11.
•3
10
Cash Income and Outgo of the Treasury Fiscal Year 1939
They will not agree with budgetary figures on
(Thee© figures are not intended to reflect the budgetary position of the Government
receipts, expenditures and deficit such as those appearing In Dally Treasury Statements and in other tables in this Bulletin. For
an explanation of the revisions made in Dally Treasury Statement figures to arrive at this cash series, see the text Id February
Bulletin. All figures In the table at the bottom of the page have now been revised In accordance with that explanation.)
.
(In millions of dollars)
CASH INCOME AND OUTGO AND NET CASH OUTGO
January 1934 to Date
1934
1936
1935
1938
1937
1939
DOLLARS
DOLLARS"
Millions
Mill ions
1.200
1.200
Cash Income
.000
.ooo
800
800
600
600
400
Mil
MMJS NJMMJ
J
S
II
NJMM
NJMMJS
J
S
'I'll''
NJMMJSNJMMJSN
1,600
1,600
1.400
Cash Out^o.
1,400
1,200
1.000
800
800
600
600
4-00
200
200
JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN
i
1,000
800
600
200
200
I
I
I
I
GENERAL
FUND
AND
-12-
PUBLIC
DEBT
13
Composition of Treasury General Fund
(In ml 11 lone of dollars - on basis of dally Treasury statements, unrevlsed)
Current assets
End of month
"Working"
balance
Total
1933-Juae
862
2,582
1.8U1
2,682
193Wune
1§ 35- June
19 36- June
19 37- June
19 38- June
1938-Mar.
11*0
2,216
1,001
2,225
970
1,628
3.1U0
1,388
1*27
2.55"<
Increment on
gold
Seigniorage
700
lUl
1U1
316
Inactive
gold
1,087
11*2
1U2
1.183
Total
Bullion,
coin and
currency
1.103
3.033
2.016
2.936
2.709
18U
I.0U5
1,01*1*
2,1*19
865
1,863
830
Deposits
In rod.
Reserve
Banks
Special deposits a/c
sales of
Got' t. Sacs,
51
97
118
862
lUl
929
31
37
aUi
U51
799
1.151
55
58
55
251*
U8
11*7
2?
156
lUl
203
6*19
611
3.287
2.055
373
ll»2
2,81*5
707
779
830
1,360
1,203
929
728
679
611
2, 689
2,111*
2.567
2, 216
1.985
1,628
1*1*0
ll*2
2,708
1*1*6
lU2
2,1*19
July,
Aug..
Sept.
,116
1.523
1,663
2.376
1*51
11*2
2,299
886
1*55
lU2
2,1*07
1*60
11*2
3.16U
,023
,360
777
778
963
585
556
791
2.733
2,625
3.285
1.330
1,265
1.30&
603
570
1.033
3.119
3.517
3.635
1.385
792
222
388
Oct..
Hot..
960
827
U67
ll*2
,W»7
1*78
ll»2
Sec.
083
1*1*9
1*92
ll»2
19 39 -Jan.,
Feb..
Mar..
933
288
693
732
503
508
515
ll*2
569
,3>*3
389
11*2
ll*2
1.35ft
1.313
Current
liabilities
837
L85I*
Apr.,
May.,
June.
260
978
111 other
deposits
and collections
1*9
156
203
1*9
183
1U7
186
7U7
736
888
60
16U
178
202
876
873
866
66
68
68
186
17U
2U6
50
50
Statement of the Outstanding Public Debt on June 30, 1938 and March 31, 1939
(In Billions of dollars - on basis of dally Treasury statements, unrensed)
June 30,
1938
Market issues, etc:
Pre-war bonds
Treasury bonds
n
s. Savings bonds
Adjusted Service bonds....
Treasury no t es
Treasury bills
Matured debt on which
Interest has ceased
Debt bearing no Interest..
March 31, Increase (+)
Decreaee(-)
1939
196
25,218
1.701
291
7.270
21.8U6
1.237
319
9.1>*7
1,151*
Total Market Issues, etc
-28
-1.877
+157
1.3U
lUl
125
1*1*8
1*19
-16
-29
36.531
+2.0U2
31*, 1*89
June 30,
1938
Special issues:
Government Life Insurance
Fund
Old-Age Beserve Account
Railroad Retirement Account.
Government retirement funds.
Adjusted Service Certificate
Fund
Unemployment Trust Fund
Postal Savings System
Federal Deposit Insurance
Corporation
Total Special Issues ....
Total
March 31,
1939
3
662
66
397
PI
Increase(+)
Decrease(-)
51U
-9
991*
332
77
11
1*62
+65
26
872
22
-1*
.185
313
>*5
85
1*0
85
115
+30
2.676
3.U5U
+778
37.165
39.985
2.820
Public Debt Accounts
(In millions of dollars - on basis of daily Treasury statements, unrevleed)
Expenditures
Becelpts
Market Operations
Market Operations
Special
Series
Total
2.673-8
2.158.5
9.620.7
U23.9
135-7
I3U.9
35-5
67U.2
1,698.8
1*27.1*
ifri
U7U.9
683.3
2.181.0
639.5
6UI.3
1*05 .1
Adjusted
Serv.
Bonds
Fiscal year 1938
1*.
775-7
12.7
1938-July
Aug
UUU.3
538.6
1,238.8
.8
Sept
Oct
Nov
Dec
Exchanges
1*1*0.9
539-2
1.183.8
928.6
68.1
571.0
1.266.7
89.5
169.5
89.1
1939-Jan
Feb
Mar
580.
1.927.
5.166.0
Total
2.673.8
1.01*0.8
8.880.6
71*0.1
55"».l
1*23.9
1.0
2-5
i»
5 .S
26.7
UOl.7
799-7
928.6
17.2
2.0
2.6
9
1*13.9
20>*.l
227.1*
1,266.7
16.7
1,800.8
126.6
553-1
270.0
1*29.6
501.0
1*26.0
1*11.0
5l7."»
Excess
Special
Serlee
Exchanges
30.3
f-
of
Receipts
272.5
899-1
UVt.
503.O
1.357.2
1*35.1*
30.3
180.
823.8
14
Composition of the Public Debt
15
16
Holdings of Direct and Guaranteed Interest-Bearing Obligations
of the United States Government
(In millions of dollars)
Guaranteed obligations
Direct obligations
Government agencies
and trust funds
At end of month
Special
Issues
1930-June
1931-June
1932-June
19 33- June
193U-June
1935-June
76U
291
309
323
396
633
1936-Jan.
Mar.
733
736
733
Apr.
May.
June
732
729
626
July
Feb.,
United States
Savings Bonds
3)6 Adjusted
Service Bonds
of I9U5, and
2W Postal
Savings Bonds
12
12
s
Other holders
Federal
Reeerve
Banks
Market
issues
230
1U5
183
21*0
Total
United States
direct
Savings Bonds, Market
obligations
3)6 Adjusted
issues
Service Bonds otherwise outstanding
of iql»5. and
held
2%f> Postal
Savings Bonds
591
7
668
1.78U
1,998
10
23
39
63
1U7
,
19,51*1*
Total
guaranteed
obligations
outstanding
15,922
16,520
19,161
22,158
26,1*80
27.61*5
378
3.7>*5
681
U.123
25.023
25.015
25.865
29.618
29.6H6
30,591
393
397
395
U.169
U.233
It.
lt.259
U.65U
366
390
1.128
25,831*
30.601
30.822
32.756
39U
It,
26,019
27.272
393
391
282
U.309
!*.327
U.676
U.702
U.718
19
20
1,11*0
1,11*8
2.1*30
2.U3O
273
297
20
1,202
2,1*30
3U1
2,1*30
16 8U9
Market
Issues
otherwise
held
23,1*51
2.1*30
17
880
967
15
1U.318
15. 3?U
Government
agencies
and trust
funds
22,696
681
it,
.562
19
1.220
20
20
1.231*
1,280
2.1*30
2.1*30
2,1*30
6U2
630
627
20
1.295
1.315
1.363
2,1*30
2.1*30
2.1*30
1.029
1,007
1,009
27.256
27,218
27.637
32,672
32,621
33,086
391
383
383
U.28U
U.72U
U.669
U.667
623
621
21
1.366
1.391
2.U3O
Nov.
Dec,
632
1,006
1,013
1.02U
27.635
27.609
28.175
33.081
33.085
33.699
382
382
381
U.285
U.280
U.281
U.667
U.662
U.662
It, 281
U.282
U.286
U.662
U.662
U.662
U.660
U.660
U.665
Aug..
Sept
Oct.,
21
20
21
20
U.333
l*,2B6
1,1*18
2,1*30
2,1*30
1.U37
I.UU5
1.571
2,1*30
2.1*30
2.1*30
1,01*5
1.093
1.2U0
28,206
28,175
27.999
33,822
33.926
311,068
381
380
376
1,262
1,280
1,288
28,028
28,209
28,791
3U.298
3U.59U
35.803
378
382
381
U.282
U.278
683
762
806
31
Apr.
May.,
June
882
959
1.558
22
22
22
1.578
1.598
1,618
2.526
2,526
2,526
July,
Aug.
22
23
23
1,626
1.657
1.667
2.526
2.526
2.526
1,312
1.330
1.3U6
28.932
29,102
28,800
36,117
36.U53
36.267
379
355
355
U.321*
Sept
1,699
1.815
1.905
It, 278
U.278
U.703
U.633
U.633
Oct.
Hov.,
Dec.
1.991
2,118
2.227
23
1,670
I.67U
1,660
2.526
2.56U
2.56U
1,362
1,380
28,796
28.755
28,830
36.368
355
365
365
U.279
U.279
U.280
U.63U
U.6UU
U.6U5
2.31U
21*
21*
36,891*
37.081*
Mar.
2.518
21*
2.561*
1.578
28.833
28,815
28.633
357
357
355
??9
2,1*81
2.56U
2.56U
1.501
Feb.,
1,658
1,660
1.687
289
291
U.6U6
U.6U6
U.6U6
Apr.
May.
June
2,501
2.582
2.676
25
25
25
1.762
1.752
1.75 *
2.56U
1,605
1.631
1,652
28,509
28,319
27,908
36,966
36.873
36.579
353
29U
31*9
503
509
U.6U7
U.852
U.853
July
2.810
2.9U3
2.933
25
25
26
1.759
1.759
1,811
2.561*
1,681*
3*5
2.56U
1.711
1.73 *
27,803
28,052
28.78U
36.61*5
Aug.
Sept
37.05U
37.852
31*1*
719
671
665
5.06U
5.015
5.009
Oct.
Hov.
Dec.
2.9U9
3.090
3.156
26
26
2.56 1*
2.56U
2.56U
1,761*
37.899
38,071
38,911
328
325
325
'73
668
26
1.831
1.835
1.8U7
U.667
5,001
U.993
U.992
1939 -Jan.'
3.215
Feb.'
Mar.'
3,1*02
26
27
27
1,856
1,860
1.851
2,561*
2.561*
2,161*
1.967
2.027
2.083
29.1*1*6
39.097
39.326
29,1*63
39,1*1*2
320
323
32U
U.667
5.087
5,090
U.987
5tUlO
5.U1U
19 37 -Jan.
Feb.
Mar.
1938 -Jan.
Note:
•
3."5>*
21
22
s
1
2. 561*
2.561*
2.561*
1.1*10
1,*0
1
1.79U
I.8U3
28.765
28,762
29.>*75
29,1*69
36,511*
36,715
37.00U
31*1*
31*1*
U.281*
Holdings of Government agencies, etc, on basis of their accounts with the Treasury; holdings of Federal Reserve Banke on basis of
their statements; other figures on baela of Public Debt Statements and Dally Treasury Statements, unrevlsed.
FigureB partly estimated.
17
Amount of Interest-Bearing Debt
Outstanding, the Computed Annual Interest
Charge and the Computed Rate of Interest
End of
Month
Intereet -bearing
debt
Computed annuel
Interest charge
Comparative Yields of Average of All
Long-Term U.S. Treasury Bonds and Average
of High-Grade Corporate Bonds
Computed
rate of
Interest:
Percent
Date
Long-term CorpoTreasury
rate s
1/
1916-June
1917-Jnne
1918-Jnne
971.562. 590
2_712.5U9.U76
11,985, 882. U36
25.235.U96.273
25,061,095,361
$23,0SU,635
83.625.U82
U68.618.5UU
1,016,592,219
2-376
3.120
3.910
U.178
U.225
1,029.917,903
962,896.535
927.331.351
876.960,673
S29.680.OUU
U.339
U.2U0
U.21U
U.180
U.105
17.317.695,096
16.638.9U1.379
15.921,892.350
793.U23.952
722.675.553
671,353.112
656.65U.311
606.031,831
U.093
3.960
3-877
3.9U6
3-807
1931-June
1932-June
1933-June
193U-June
1935-June
16.519.588.6U0
19.161.273.5U0
22.157.6U3.120
26.U80.U87.920
27.6u5.229.g26
588.987.U38
671.60U.676
7U2. 175.955
8U2.301.133
750,677,802
3.566
3.505
3-350
3. 181
2.716
1936-June
1937-June
1933-June
32.755.631.770
35.8O2.586.9i5
36.575.925. 880
838,002.053
92U.3U7.089
9U7,08U,058
559
582
589*
1938- July.
Aug.
36.6U1.937, 719
37. 051. 561, 281
37.8U9.982.U93
951. 738. 835
956.207.791
977.27U.331
597*
581*
582*
Oct.
lor.
Dee..
37. 896. 865.589
978.60U.732
982.9i7.8OU
1,005,833,188
2.582*
2.582*
2.586*
1939-J.n..
39.097.233.713
Peb..
Mar..
39. 325. 527. 811
1.011. 231. U67
1,017. 225. 0U2
1.026,757.937
2.586*
2-587*
2.603*
1919-Jtane
1920-June
1921-June
19??-Jnn«
1923-June
192U-June
1925-June
23.737.352.080
22.711.Q35.587
22.OO7.J90.75 1>
20,981,586,1*29
20,210.906,251
L05U.20U.509
Sept,
19.323.770,860
18, 250,9U3. 965
38,068,027,769
38,898,851,391
39.UU2.07U.957
Monthly averages of dally
figures U/
1938 -Jan
Peb
Mar
2.65
2.6U
2.6U
3.17
3-15
3.16
3-08
3.O6
3.05
Apr.
May..
June.
2.62
2-51
2.52
3.23
3.1U
3-15
3. 08
2-99
2.99
July.
2.52
2.51
2.58
3.12
3.10
3.12
2.98
2.98
2.99
.U6
.U6
.U2
.Ul
Sept.
Oct.
Hot.
Dec.
2.U8
2.U9
*8
3.0U
2.0U
2.92
2.90
1939-Jan.
Peb.
Mar.
2.U7
2.UU
2.3U
3.00
2.98
2.98
2.86
2.86
2.85
U
Mar.
Mar. 11
Mar. 18
Mar. 25
2.38
2.33
2.36
2.32
2-97
2.9b
2.98
2.98
2.85
2.SU
2.86
2.85
Apr.
1.
Apr . 8
Apr. 15.
2.32
2.32
2.30
3.00
3.02
3.01
2.88
2.88
2.88
*
Por monthly figures from June 1916 to June 1929. see report
of the Secretary of the Treasury for 1929, page 509: from
July 1929 to June 1936, see report of the Secretary of the
Treasury for 1936, pages UU2 and UU3; from July 1936 to
June 1937, see report of the Secretary of the Treasury for
"Interest-Bearing Debt" figures Include
1937, !»«• UU2.
discount on Treasury Bills, amount being deducted prior to
calculating the average Interest rate.
On basis of Dally Treasury Statements, unrevleed.
(See
heading)
•!* 3
.U2
.Ul
.U6
.U8
•U7
U7
.Ul
55
.51
Weekly figures
as of Saturday
closing prices 5/
Rote:
Note:
cludl ng
rails 3_/
Spread between
long-term
Treasury and
oorporates
IncludExcluding rails ing rallE
.
1926 -June
19 27 -June
1928-June
1929-June
1930-June
2/
Corporates.ex
1/
2/
3/
U/
5/
-U7
59
.63
.82
•
51
.66
•
50
53
.68
.56
.70
.56
.71
•
58
Monthly figures for 1937 In January bulletin, Page 15.
Average of Treasury bonds due or callable after twelve years.
Average of 20 bonds.
Average of 15 bonds.
January 1938 through April 1938, monthly average of
Saturday figures.
Or the most recent sale If there was no sale on Saturday.
"DO
o
o
o
00
o-
(X
<
(f)
h
LU
o
o
'Z
a.
<0
IS)
<.£c
to
Q
O
D
co
<
LU
CL
\-
o
Q
CO
_i
UJ
r-
^
in
^
cm
mr.
Q-tjW
o
^
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—
r-
w
—
—
cm
GOVERNMENTAL CORPORATIONS
AND CREDIT AGENCIES
20-
21
Governmental Corporations and Credit Agencies
of the United States: Feb. 28, 1939
Proprietary Interest of the United
States in Governmental Corporations and
Lending Agencies: Feb. 28, 1939
(Compiled from latest reports received from these agencies)
(Compiled from latest reports received from these agencies)
(In millions of dollars)
(In millions of dollars)
Proprietary*
Interest
Liabilities
Assets
Got
OuaranQuaranteed by
tead by
United
States
Reconstruction Finance Corp..
Commodity Credit Corp
Export-Import Bank of
Washington
Federal Crop Insurance Corp..
Federal Deposit Insurance
Corp
Tennessee Valley Authority...
Public WorkB Administration..
United StateB Maritime
Commission
Rural Electrification Admn...
Home Owners' Loan Corp
Federal Savings 4 Loan
Insurance Corp
Federal Savings &
Loan As ens
Federal Home Loan Banks
Federal Bousing Admn
United States Housing
Authority
Farm Credit Administration...
Federal Farm Mortgage Corp...
Federal Land Banks
Federal Intermediate
Credit Banks
Banks for Cooperatives
Production Credit Corp
Regional Agricultural
Credit Corps
War emergency corps. &
agencies (in liquidation):
Navy Department (sale of
surplus war supplies)
United States Housing Corp.
United States
Bai lroad Admn
United States Spruce
Production Corp
War Finance Corp
Other:
Disaster Loan Corp
Electric Home and
Farm Authority
Farm Security
Administration
Federal National
Mortgage Assn
Federal Prison
Industries Inc
Interior Department
(Indian loans)
Inland Waterways Corp
Panama Railroad Co
Puerto Rico
Reconstruction Admn
Mortgage Company
Tennessee Valley Associated
Cooperatives Inc
Treasury Department:
Railroad loans (Transportation Act, 1920)...
Securities received from
the Reconstruction Finance Corp. under Act
of Feb. 2U, 1938
,
RFC
1.650.0
392.6
820.3
206.7
U8-5
7.1
United
States
939-9
110.0
7
47.8
5.0
•
192.6
9-0
23*. 3
38.5
252.2
100.7
3.060.9 2.905-7
117.?
1.7
260.6
114.3
125-8
1.610-7 1.392-8
2.3U1.3
Owned
by
United
States
89.7
75-9
2.1
U6I.9
UU.5
286.1
U0.6
Privately
owned
139.3
156.3
150.0
225.3
38.5
106.8
95-9
100.7
48.4
1.1
II6.7
116.7
1.2
"6.7
2.4
UUio.
44.5
124.7
37-7
144.1
120.0
173.0
325-8
1.821.3
194.2
275-3
165-9
122.3
176.2
3-6
3-7
.2
99-1
178.6
122.0
21.8
3-3
18.5
M
U.7
2.0
2.0
.1
.1
•7
7
1/
1/
i/
13.0
1/
13.0
8.1
7-2
•9
201.7
201.7
105.5
87.3
18.2
7.1*
.2
7.2
2.2
2.2
25.1
45.5
3:5
it.
5U.2
4.6
52.7
30.2
30.2
2.6
2.6
,
Total
Bote:
*
1/
12.1*11.2 5.441.5
2.907.7
383.9
3.678.1
Figures In this table are rounded to nearest tenth of Billion and
will not necessarily add to totals.
Excluding Inter-agency transactions.
Less than $100,000.
22
Statement of Sources of Funds of Certain Corporations and Agencies Maintaining Checking
Accounts with the Treasurer of the United States: July 1, 1938 to Feb. 28, 1939
(Compiled from latest reports received oy the Treasury)
23
Statement of Sources of Funds of Certain Governmental Corporations
and Agencies from Inception of Organization to Feb. 28, 1939
(Compiled from latest reports received by the Treasury)
24
Principal of Outstanding Obligations Guaranteed by the United States
(In millions of dollars - compiled from reportB received by the Treasury)
Ind of month
THE
CAPITAL MOVEMENTS BETWEEN
UNITED STATES AND FOREIGN COUNTRIES
35-
26
Net Capital Movement between the United States and Foreign Countries
1935 throuerh January 1039
oo
UJ
<
c
:
28
Short-Term Foreign Liabilities as Reported by Banks and Bankers
in the United States for January 1939
(In thousands of dollars)
Classification
and date
TOTAL SH08T-TTRM
TORSION LIABILITIES:
U
Jan.
Jan. 11
Jan. 18
Jan. 25
Feb. 1
United
Kingdom
.
Jan. 25
Feb.
1
Deposits for
foreign account:
Jan. 4
Jan. 11
Jan. 18
Jan. 25
/eh.
1
Bills held for
foreign account:
4
Jan.
Jan. 11
Jan. 18
Jan 25
Feb.
1
.
Swltier
Other
201.751
205,683
215.295
205,326
225,622
248,540
251,665
250.451
250,049
254,483
236,821
244,224
252.295
267,222
256,789
36.123
37.111
36,860
36.447
37,085
1.959.084
1.957.706
1.982.335
1.992.636
2.049,394
253.897
259,562
266,545
266,756
267.154
1,147.801
I.134.025
1.165.517
1,170,867
1.193.990
200.420
204,490
213.752
203.874
223,065
248,160
251,278
250, 079
249,619
227.307
235.216
263.505
238.576
246.244
33.390
36.669
36.428
36,008
36.720
1,857,078
1,861,67s
1.889,281
1,898,942
1,956,066
238,
1.088. 677
1,068.358
1,076,124
1,103,204
1,129.130
193.981
197.641
205,187
199.951
216.772
228,506
230,586
3L739
230. 877
231.691
236.504
195.936
206,629
210.273
206,278
217.183
36.503
35.398
1.738.S37
1.736.253
1.757.102
1.775.627
1.834,987
46,281
47.115
48,482
50,245
49.946
6.317
6.351
6,501
3.566
5.820
19.396
20,6l4
18,911
17,664
17.236
30,318
29,714
32.198
31.194
27.982
1.566
1.329
1.687
1.605
1.236
103.856
106,923
107.779
104,036
102.216
20.633
19.556
19.313
18,613
17.883
101.830
99.336
101,815
103.639
116,456
218.799
212,463
202.911
226,776
233.858
255.483
26I.O36
267,890
269,070
268,267
183.576
193.667
193.809
196.138
191.670
17.387
16,909
17.487
16.514
15.560
20.018
19.121
18.802
17.905
I7.60I
100.534
98,268
100,854
102,451
113.673
218,572
212,207
202.615
226,489
233.568
318,094
325.152
327.621
361,216
177.634
186.464
187.089
189,889
185, 616
17.139
16,726
16.853
16.166
15.312
19.092
18,227
17.789
16.829
16.346
95.198
92.956
95.601
96,253
108,163
199.333
191,180
182,655
205.791
211.568
244,
244.715
250.985
250,655
8.332
8.276
8.610
8,122
8.0U2
2,028
2.078
2.119
2,151
2,162
144
118
305
275
159
839
769
887
923
915
6.680
6.655
4.596
5.533
6.769
17.121
18,479
18.335
19.097
20,369
353.817
33^.511
4a
365.
565.605
364.614
355.384
3«ti.798
Orand
total
1.237.849
1.219.223
1,227,634
1.253.596
1.275,615
17. 826
17.262
17.814
16,760
15,865
187. 365
all
other
Latin
America
197. 086
197.619
199.947
196.958
U36.ll}
412.508
U20.072
Total
Europe
Canada
Italy
•119.191
1130,150
TOTAL LIABILITIES
PATABTJ IN D0LLABS:
Jan. 4
Jan 11
Jan. 18
Nether-
Germany
France
fcirope
25i.Hl
13.137
12,740
l6!l44
13.570
251
.047
Tar
last
Short-ten United States
Government obligations
held for foreign
account:
Jan.
4
Jan. 11
Jan. 18
Jan. 25
Teh.
84
1
Other liabilities
payable In dollars:
Jan.
4
Jan. 11
Jan. 18
Jan. 25
Tab.
36
31
1
TOTAL LIABILITIES PATABLX
IN FOBZION COBHENCIESl
Jan. U
Jan. 11
Jan. 18
Jan. 25
7eb.
1
31
3.675
8.136
11,636
8.811
6.119
3.906
6.917
6.593
4.090
3.886
104
67
329
73
89
82.296
77.997
76.667
76.577
76.766
3.789
3.617
3.810
3,809
3.688
439
333
327
246
285
69.376
63.167
"to, 039
60.515
39,468
303
218
440
414
265
434
330
326
26l
277
27,440
29.317
29.095
28.377
29.654
3.276
3.192
3.167
3.153
3.033
5.682
5.513
5.533
5.685
5.646
210
207
203
262
210
!7
140
ins
UTS
511
SO.'8
Us;
8?
656
659
657
665
561
2,118
2,548
1.625
1,601
1.631
2.276
2,086
1.929
1.956
2,672
1.296
1,068
961
988
981
227
256
296
285
310
1.586
1.4Q2
I.365
2.314
1.113
328
142
1,128
1,021
866
1.868
62
73
82
85
106
156
ID
49
762
672
742
8
176
I83
166
175
177
123
125
152
130
112
122
498
2.064
77
i?
473
265
263
276
90.048
85.198
81. 917
82.727
81.425
1.331
380
387
372
630
436
51.876
65.209
42,108
63.590
61.251
841
485
1,015
969
2.093
12.822
18. 536
20,895
17.369
14,898
993
1.563
1.450
2.557
296
1.055
1,073
1,036
1,102
1.079
105
101
100
100
88
14,369
20.671
24,369
19.197
16.832
9.516
9.008
8.790
8.648
733
442
432
439
365
102,006
96.028
93.056
93.694
95.328
432
102
62.272
54,512
51.597
52,944
53.679
io.5''5
Borrowings frosj
foreign banket;
Jan.
1»
Jen. 11
Jan. 18
Jan. 25
Feb.
1
Acceptances made
by foreign banks:
Jan. U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
269
321
305
367
18
698
31
ja
25
2?
31.606
33.366
33.152
32.307
33.526
297
300
295
33
l
336
8.826
8.416
8,096
7.96?
9,926
83
103
75
32.054
33.816
33.598
32.74
33.9}
600
381
Other liabilities payable
In foreign currencies:
Jan. U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
t
169
155
159
172
106
U?5
44i
421
393
6.568
6.623
6.657
6,830
6,650
120
108
133
81
83
83
87
77
97
100
628
562
663
677
611
281
320
32
?
316
271
7,680
7.700
7.859
8,001
7.715
29
Short-Term Foreign Assets as Reported by Banks and Bankers
In the United States for January 1030
(In thousands of dollars)
United
Kingdom
Classification
and oats
Trance
Germany
TOTAL SHORT-TIBM
rOBHOH
ASSETS:
It
Jan.
Jan. 11
Jan. 18
Jan 25
Tab.
1
85.976
87, 1U?
90,316
98.513
91,621
.
TOTAL AS SITS PATABLI
IS TOESIOS CTJSBESCUS:
Jan. U
Jan. 11
Jan. 18
U1.669
•5.233
118,912
Jan. 25
Teh. 1
'
Banks own deposits
abroad:
Jan. *
Jan. 11
Jan. 18
Jan. 25
Tab. 1
21.230
24,801
27.157
31.352
172
20*
210
20*
199
U.220
4.666
16.042
16,351
17.60U
18,672
18,737
TOTAL AS SITS PATABLI
IT! DOLLARS:
Jan. It
Jan. 11
Jan. 18
Jan. 25
»eb. 1
Other assets payable
in dollars:
Jan. >t
Jan. 11
Jan. 18
Jan. 25
Teb. 1
792
U57
629
715
•t.151
Jan. 11
Jan. 18
Jan. 25
»eb. 1
Jan. 11
Jen. 18
Jan. 25
Teb.
1
.0U6
*.397
4,081
Other assets payable
in foreign currencies
Jan. k
Acceptances made
for foreign banks:
Jan. U
1.U37
1.220
880
1.05*
1.126
2*. 306
Deposits abroad
for account of
domestic ollents:
Jan. U
Jan. 11
Jan. 18
Jan. 25
?eb. 1
Loans to foreign banks:
Jan. k
Jan. 11
Jan. 18
Jan. 25
Teb. 1
.23>t
87.709
10,299
10.531
9.0*2
8.736
13.951
,
21
?
22*
213
221
212
8,862
44.307
4l,?l6
4l,6o2
UU.279
*3.912
8,162
7,682
12.825
32.655
30.295
30.502
32.198
32.878
2.931
3.30*
2.105
1.783
7.055
2.785
2.796
2.659
3.150
2.758
2.U27
2.442
2.*55
2.378
2.291
8.867
8.827
8.2U1
8.931
8.276
3.50*
3.565
3.602
3.521
9.3U
3.
89,1*9
89.655
88.718
88.628
87.725
Italy
Netherlands
Svltserland
Other
Europe
Total
Europe
Canada
Latin
America
far
last
All
other
Grand
total
30
Security Transactions as Reported by Banks, Bankers, Brokers
and Dealers In the United States, for January 1939
(In thousand, of dollars)
Classification and
veek ended
United
Kingdom
TOTAL PURCHASES
IK THE UNITED STATES
FOB FOREIGN ACCOUNT!
Jan. U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
Purchases of
domestic securities:
Jan.
U
Jan. 11
Jan. 18
Jan. 25
Teh.
1
Purchases of
foreign securities:
Jan.
U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
TOTAL SALES
IN THE UNITED STATES
FOR FOREIGN ACCOUNT:
Jan.
U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
Sales of
domestic securities:
Jan.
U
Jan. 11
Jan. 18
Jan. 25
Peb.
1
Sales of
foreign securities:
Jan
U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
TOTAL PURCHASES
EXECUTED ABROAD FOR
DOMESTIC ACCOUNT:
U.
Jan
Jan. 11.
Jan. IB.
Jan. 25Feb.
1.
Purchases of
domestic securities:
Jan. U
Jan. 11
Jan. 18
Jan. 25
Feb
1
Purchases of
foreign securities:
Jan.
U
Jan. 11
Jan. IS
Jan. 25
Teb.
1
TOTAL SALES
.
.
,
6,398
7.777
5>S3
6.36U
6,010
5.6U7
6.631
>*.553
M53
"»,920
751
1.1W
930
1,611
1.090
Germany
2.28U
2.095
2.059
2.758
3.!*07
57
60
17
88
118
365
251
1.576
273
166
10
6<
1,566
267
127
10,291*
U.312
6,623
1.767
3.315
2.700
3.270
3A85
1»,071
1.687
U76
1.279
2.198
1.520
177
197
311
215
30U
488
U92
771
5U1
11
28
Netherlands
3.720
land
Other
Europe
Total
Europe
21*8
3L325
1.1*11
2,131
ll.lUl*
908
2,1*36
383
182
22.730
32.278
ll.lOU
1.1*21*
5.567
1*1*7
38.61*1
17.131
16,710
10,969
111, 217
15.875
2.782
8H7
895
68b
58U
700
1.1*1*2
157
19?
22.359
2.586
1.880
2.185
2.081
5."tl7
175
712
U77
3.09U
3.067
3.391
38,1*50
3.77l*
1.631
l»,22lt
1.179
378
727
32U
72U
lUo
188
251
251
125
689
721
1.179
916
1,018
1.978
1.077
2.336
2.392
2.591
1.1*12
U, 689
3.1*71
3.968
1.315
3.160
lU.036
17.608
20,099
3.381
3.133
1.962
2.077
3.108
U,83l*
1.01*2
3.603
1.998
3.999
3.136
1.326
700
838
1.529
339
297
306
506
778
593
690
832
1,196
1.26U
1.U65
2.202
1.811
5.O89
2.002
2.951
3.617
J. 228
U.075
88
65
105
77
57
b.771
1,926
5.618
3.522
*,70U
1.010
16,926
LO65
l.*U
18,1*23
2,661*
3.U12
3.019
5,1*21
*.30l*
2,052
1.568
318
76
287
205
209
l.!*57
186
199
121
150
753
2l*3
20.7?'.
19.7&6
21,°,ll*
518
2U.785
2"*,
19.502
21.298
21,809
111*
3."*52
2.571
2.553
5.373
2,198
8.591
5.731
1
221
018
991
8.871
22.555
1».
U.955
3.383
393
309
593
588
926
81
81*7
2,1*12
8,266
635
1.208
3.220
2.976
17.981
96
133
253
103
201
3.873
1.323
M55
1.909
2,326
7.838
i:$
117
336
301
399
310
27>*
1,01*8
U.57"*
338
60S
70?
874
705
136
72
90
Grsnd
total
2U3
100
88
108
92
67
21*1
All
other
1.582
2,268
2.319
318
Far
East
2.771*
22,51*8
19,801*
3.81*0
Latin
America
2.026
1.273
3.123
1.801
363
Canada
Ul,232
7.226
H.769
5.31*0
l*,3»i
260
190
228
218
378
232
Svl tier-
3."*30
21*2
21*6
1,9W»
3.512
3.011
7.969
9.055
8.775
>*7
2.196
1.977
1.69U
2.507
3.161
6,310
8.9U6
9.2U8
11.253
8,1*70
107
Italy
11
28
136
72
221
272
90
5,1*1*2
261*
121
351
86
1*9
119
61
96
162
161
293
67.631
23,81*2
16,368
19,660
27.71*1
1*5.272
7.1*83
6.362
12,618
10.900
35.889
26,621*
29.1*51*
360
36.992
51.1M0
91*9
69
23,1*92
1.91*5
158
109
332
186
2M97
969
2.320
2.^63
93
25.309
29.179
29.779
12.397
2.127
it*
19
171*
7.613
21.361
2.313
2.972
8.576
2.921
2.215
ll*8
336
327
399
310
2.165
2.636
395
1.878
2.326
7.812
2.039
I.U5U
7W*
586
1.039
766
1.285
897
1.08U
1.075
1.635
I.167
1.6U1
1.675
2.138
1*08
1*75
8,2%
2.522
1.905
EXECUTED ABROAD
FOR DOMESTIC ACCOUNT
Jan.
U
Jan
11
Jan. 18
Jan. 25
Feb.
1
Sales of
?96
1*62
.
689
57U
921
377
77
120
98
197
31
3
121
1*6
1*1
9
2,1*19
2.1*55
domestic securities:
It
Jan.
Jan. 11
Jan. 18
Jan. 25
Feb.
1
Sales of
1U1
223
,
?U
161*
112
,
ll*2
1*1
I65
223
2l<0
120
281*
1*6
158
183
^8
579
363
822
1.080
1.075
1.567
I.167
227
28U
226
183
foreign securities:
Jan.
U
Jan. 11
Jan. 18
Jan. 25
Feb.
1
155
239
525
U62
779
377
77
120
98
197
608
1,102
1,1*01
1,1*1*8
I.85I*
2.193
2.272
31
Security Transactions In Joint Foreign Arbitrage Accounts as Reported
by Brokers and Dealers in the United States, for January 1939
(In thousands of dollars)
Classification and
Ksefc ended
United
Kingdom
Trance
Germany
Italy
Nether-
33
Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported
by Banks and Bankers in the United States, for January 1939
(In thousands of dollars)
Currency of-
Classification,
wetk ended.
and delivery
tlnlted
TOTAL POHCHASXS:
Jan
4 Spot
4 Forward.
Jan.
Jan 11 Spot
Jan. 11 Forward....
.
.
.
.
Jan. 18 Spot
Jan. IS Forward....
Jan. 25 Spot
Jan 25 Forward ....
Feb
1 Spot
Feb.
1 Forward.
.
.
.
.
Purchases from hanks:
Jan. 4 Spot
4 Forward
Jan
Jan. 11 Spot
Jan. 11 Forward.
Jan 18 Spot
Jan. 18 Forward
Jan ?5 Spot
Jan. 25 Forward.
.
.
.
.
.
.
.
Feb.
Feb
1
Spot
1
Forward
.
Germany
Kingdom
78.05U
42.461
91.474
50.376
79.636
38.193
8O.833
39.421
70.552
41.104
4.739
779
2.178
1.597
3.172
526
2,110
58.977
29.699
76.112
35.301
b5,18S
24,592
65.748
3.919
717
2.033
1.082
2,829
403
1,784
147
2.887
529
.
26,7:54
.
56.647
22,479
314
3.649
551
289
40
551
16
649
47
401
1
388
40
248
38
527
16
594
47
371
1
381
38
Italy
Netherlands
Switzerland
566
23
754
26
615
294
598
27
729
17
2.436
1.002
2,493
426
2.977
810
6,031
1.515
4,229
2.340
914
284
I.O67
248
773
55
1.333
151
1.861
290
450
20
609
26
502
294
517
24
580
2.077
572
1,917
252
2.723
838
266
1,006
217
758
366
55
1,027
144
1.838
267
17
5.944
1.079
3.797
I.690
Purchaser, from custom
ers other
U
Jan
4
Jan.
Jan. 11
Jan. 11
Jan. 18
Jan
18
Jan. 25
Jan. 25
Feb.
1
Feb
1
than banks
.
Spot
.
Forward.
Spot
Forward.
Spot
Forward
Spot
Forward.
Spot
Forward
.
.
.
.
.
.
.
.
TOTAL SALES:
4 Spot
Jan.
4 Forward.
Jan.
Jan 11 Spot
Jan. 11 Forward.
.
.
.
.
.
Jan. 18
Jan 18
Jan 25
Jan. 25
Forward ....
Spot
Forward.
1 Spot
1 Forward.
.
Feb
Spot
.
Feb.
.
.
Sales to banks:
U Spot
Jan.
4 Forward
Jan
Jan. 11 Spot
Jan 11 Forward
Jan 18 Spot
Jan. 18 Forward.
Jan 25 Spot
Jan 25 Forward
Feb.
1 Spot
Feb
1 Forward
.
.
.
.
.
.
.
.
.
Sales to customers
other than banks:
Jan.
U Spot
Jan.
4 Forward.
Jan. 11 Spot
Jan. 11 Forward.
Jan. 18 Spot
Jan. 18 Forward.
Jan. 25 Spot
Jan. 25 Forward.
Feb
1 Spot
Feb.
1 Forward.
116
359
3
430
576
343
123
326
167
762
22
113
78,974
44.616
87,400
53.551
65.857
52,013
72.635
52.904
75.784
35.556
4,330
65,854
29,225
76.308
52.3>*7
37.285
59.513
35.628
59.385
24.824
.
.
.
820
62
145
515
37A17
.
.
.
19.077
12.762
15.362
15.075
14,448
13,601
15.085
12,687
13.905
18,625
.
,
.
.
.
.
.
.
.
13,120
15.391
11,092
16,134
13.510
l4,72S
13.122
17.276
16.399
10.732
1.127
2.132
1.722
3,421
616
1,821
837
3.178
805
145
17>-
81
3
149
293
63
517
46
602
11
452
408
17
547
24
507
99
436
36
3
460
273
482
3.446
762
1,481
1.147
2.265
516
1.046
719
2.402
614
170
61
351
46
449
231
16
255
21
259
286
73
249
884
365
123
177
2
1
651
575
1.156
100
775
118
776
166
292
153
248
2
188
191
33
11
303
248
36
31
3
149
3
174
200
233
2
254
444
87
436
432
650
1.780
1,120
1.606
1.501
2.172
2,040
5,636
1.906
4.267
2.966
76
18
61
31
15
306
7
23
23
1,110
138
1.156
104
791
61
1.323
582
1.200
933
1,188
786
629
99
908
1,165
874
1,418
900
5,042
862
3.854
1.530
31
469
32
.015
326
856
924
324
441
627
248
73
322
1.140
594
1.044
413
1.436
29
308
256
344
9
Other
Eurorce
2.710
Total
Europe
Canada
Latin
America
Tar
East
All
other
Crend
total
33
Outstanding Forward Exchange Contracts as Reported by Banks
and Bankers in the United States during January 1939
(In thousands of dollars)
Currency of-
Classification
and data
Ohited
Kingdom
TOTAL PURCHASE COHTRACTS:
Jan. U
Jan. 11
Jan. 18
Jan. 25
Tab.
1
3IA.939
3"". 331
328.575
332.517
333.125
Contracts for purchases
from foreign customers:
Jan. U
Jan. 11
Jan. 18
Jan. 2$
Teh. 1
Trance
Oeraany
9.610
9.950
9.268
8,1*35
7.711
106,072
107.092
101,081
101.233
102.762
U.TUo
U.902
5.0U2
U.36U
3.816
238,867
237.23?
".870
5.0U8
".226
".07"
3.895
Italy
Hetherlands
Svltterland
Other
Furope
Total
Europe
Canada
886
886
886
886
886
3.02U
3.369
3.652
".039
3.890
1.199
1.199
1.199
1,217
218
195
208
2U9
263
335,880
1.21
11.377
11.73"
11,826
11.835
11.517
75.727
78.000
80. 229
81.586
79.303
".509
"."83
15,1*02
16,1*03
1*,1*82
17.701
18.380
16,92"
22H
193
190
258
223
507.33"
515.010
513.823
527.227
516.306
".270
".271
".271
3.772
3.771
9.891
10.511
151
u.733
11*0
12,618
10,680
11*0
192.538
198,132
202,012
202.327
I97.86O
239
212
211
2U7
238
5.511
5.892
5.968
5.762
382.662
382.231
366.76O
372.035
371.637
67.525
69.815
71.361
73.518
2.021*
981
I.963
LOW*
2,231*
986
1.107
1.072
".503
U.Ugs
U.207
U.UU6
U.206
118,362
119.529
113.577
113.771
115.066
8.73?
9,00"
9.598
10.3"7
26i*,300
10,11*3
262,702
253.183
258.26"
256.571
9.6U2
10.151
11,122
10,951*
2.599
3.155
Orand
total
All
other
lU.Uoi
15.103
15."78
15.87"
15."07
1U.850
1U.6U1
15.035
16,180
16,097
9.681*
320
367
369
371
far
last
2.085
2.085
2.085
2.103
2,102
3.096
3.280
3.300
3.3"9
3.290
1*0U
Latin
America
71 ."37
10,251*
8,951
218
195
208
323
337
1*66.891
1*69.1*29
"55.892
"63.853
1*60.920
131.011
132.788
127.713
129.0211
128,867
Contracts far purchases
froa domestic customers
I*
Jan.
Jan. 11
Jan. 18
Jan. 25
Teh.
1
TOTAL SALE
Jan.
Jan.
Jan.
Jan.
Teh.
COBTRACTS:
U
11
18
25
1
Contracts for sale
to foreign customers:
U
Jan.
Jan. 11
Jan. 18
Jan. 25
Teh. 1
Contracts for sale
to domestic customers:
Jan. "
Jan. 11
Jan. 18
Jan. 25
Teh.
1
W
227.
231, 2SU
230.363
359.022
363,73"
358.690
368,850
359.U07
12,86?
12,90"
12.159
115. 800
6.718
7.03"
6.659
6.Ug0
6,211
116,260
117.767
117. "30
111*,
203
2U3.222
21*7,1*7"
2"0,?23
251, U20
2&5.199
U.563
10.917
6.151
5.870
5.500
5.083
1*.706
395
3"
358
360
359
165
186
199
181
"35
101*
61
97
150
106
82
138
8U
285
628
506
7,660
7.679
7.917
8.523
7.799
2.115
2,236
2.31"
2,218
10,828
11.73"
11.891
15,061*
17.8U7
17.236
17.203
17.770
19. "15
2,21*2
1*11.1*72
58,786
60.811
61. 7§3
63.26U
62.U86
567
I8.833
5.877
5.828
5.785
5.882
6.273
l"7
86
123
123
123
7,262
7.972
7.865
8.235
8,256
3.727
3.""3
3.U76
3.5»6
U.OOU
11.591
12,118
11*7,017
12,1*1*9
11*8,1*00
32,922
36.18U
37. "68
13.3U2
1"9.253
l"7,lll
36,210
7.802
7.565
8.695
9.929
10.577
2.150
2.385
2.309
2.336
2.269
6,256
5. 118
".75"
15.537
16,560
18,161*
s
W.I59
1*,U28
5,256
"15.931
1*11.221
1*22,98"
"15.8"7
11*5,301*
266,168
36.51*1.
268,911*
1*2,805
1*1,816
262,821
273.731
268.736
"2.761
"5,0"2
"3.093
".019
U.0O9
Net Position In Foreign Currencies of Reporting Banks and Bankers
In the United States for January 1939
(Minus Indicates short position:
Classification
and date
In thousands of dollars)
6,21*1*
ll»9
88
336. 6U1
328.179
33". 829
332.053
31". 796
50
118
135
316.878
311.811
32U.90O
318,1*1*6
OTHER
MONETARY
-34-
STATISTICS
35
Gold Assets and Liabilities of the Treasury
(In millions of dollars - on oasis of dally Trer.eury statements unrevised)
End of calendar
year or month
Z>
CX
UJ
>
CD
o
o
in
L.
ft)
Vft)
TJ
ft)
L.
H
o
-a
a.
ft)
i.
O
C
O
ft)
.'.
a
^ >
o —
~>
Mo
u
ft)
<$o
C9
O
o
o
I-
ex
LLJ
<
Z
z
O
5
_c
°
V
°
H-
"
5.2
>.
<0
o
(O
o
I
"
-•-
_
KV^VAVAW
kVAVWAWA
iif
__
'
.Vv.WS.VK
55
jss^m
SXWWrr???
I
IW\W,V.W,V
W.V.WW.V
K\\\V
i^Vs,VsS\Vs,V0
1
——
l_
_
_
_
res
—
l/>
<
-i
<
ro
O
—
m,Z
o
Q.UJ
in
PJ
o
CM
in
—
o
—
in
C
37
Components of Sliver Monetary Stock
(In millions of dollars - on bests of revised dally Treasury statements)
End of
calendar
year or
month
38
Net Movement of Silver to and from the United States
(In thousand n of dollars)
Year
and
month
Net Imports from or net exports (-) to:
Other
Europe
United
Kingdom
3b. 521
2*5.133
53.393
34,120
134,264
1936
1935
1936
1937
1938
438
12,147
5.416
b.798
10.915
190
2.657
85b
-25
15. 39&
1938-Mar..
9.053
Apr.
May..
June.
9.34s
10,010
13. 813
July.
Aug..
Sept.
8.957
15.301
U, 300 37
Oct..
Not..
Dee.
10.169
15.778
17.075
46
4.310
19 39- Jan..
5.105
4,083
324
20
-4
5
Feb..
Mar..
Year
and
month
1936
1935
1936
1937
1938
Other Latin
America
Cuba
16
2.158
20
21.995
58.325
29.925
30,203
41.715
-3.780
-5.611
-8,951
-7.651
-4,34?
1.550
?,920
1.048
968
b96
3.906
10,199
7.408
6,766
7.381
9*
495
?4o
7
41
1/
13
59
86
560
667
680
290
386
249
6
57
73
30
519
608
978
194
49 8
631
708
312
277
239
739
491
759
219
1,054
3.04?
2,lb2
1,470
436
2.740
2,710
3.098
874
988
809
2,918
2, 600
1.95b
-?44
-l.?50
bb3
708
742
2.767
2.635
1,876
-993
-695
-1,200
46
485
372
5"7
2.737
2.635
3.112
-1,243
-1,093
-750
45
6.305 2/
1*
y
31
8
11
s
Net Imports from or net exports (-) to:
British
India
-338
188
3.024
Bong
Kong
21,967
227
69.996
5.614
150
Other
Asia
Japan
2.873
6,787
3.463
61
1938-Mar..
289
11
Apr.
May..
June.
321
4
116
3"3
63
126
117
149
121
166
65
July.
Aug.
Sept.
2
Oct..
Nov..
Mar..
11
69
y
15.507
17.636
18.931
108
130
18. 133
19
4,584
22.635
70
23. 813
9
24,163
20.169
171
10,065
204
4
146
43?
160
134
250
270
630
502
19 39 -Jan.
Feb..
284
14,?50
305
413
9*
23,6
18
44
84
61
"3
Dec
181
173
86.174
335.730
170,851
79.835
223,449
3*
118
48
633
617
3,224
342
504
10.808 4/
611
2,858
Total net
imports or
exports (-)
All
other
1*
303
843
2.144
1,271
2.930
381
-1,?28
2.738
8,658
7,874
5.284
8
44
Less than $500.
Includes net Import of $12,950,000 from Trance.
Figures for July, Sept. and Nov. 1938 Include net Imports from France of $4,301,000, $4,300,000 and $4,301,000 respectively.
Includes net Import of $9,791,000 from Slaa.
4/
Source:
Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.
1/
2/
3/
Seigniorage on Silver Since January
1,
1934
(In millions of dollars - on basis of daily Treasury statements)
Cumulative from
Jan. 1, 1934
to end of Calendar year or month
Seigniorage on
silver and
minor coins
Sources of Seigniorage on Silver Bullion Revalued 1/
Miec. silver
Newly -mined
(lncl. silver
ellver (Proc.
bullion held Dec.
21,1933)
June 14, 1934
Silver Purchase Act
of June 19,
1934
Nationalized
ellver
(Proc. of
Aug. 9. 1936)
Total
Seigniorage
on silver
revalued
Potential
seigniorage on
silver bullion
at cost In
General Fund
1937
46.1
63-7
48.7
48.7
48.7
48.7
16.8
36.O
58.0
51.1
226.2
302.7
366.7
508.
137.5
276.7
398.4
563.9
1938-Mar..
66.5
48.7
62.1
392.2
537.7
604.5
Apr.
May..
June.
bb.8
67.2
67-3
48.7
48.7
48.7
b 3 .4
398.5
405.1
411.4
565.3
553-5
561.1
620.3
637.6
b52.2
July.
Aug..
Sept.
67. 6
67.5
68.0
48.7
48.7
48.7
67.8
69.4
416.0
420.4
425-7
567.2
573-2
579-2
668.4
678.5
^93.6
68.5
68.9
69-5
48.7
48.7
48.7
71.6
73-8
76.9
43?.
Dec.
443.0
457.7
587-6
600.2
616.0
710.0
737.0
773-9
1939-Jan..
Feb..
Mar..
69.9
70.2
70.7
48.7
48.7
48.7
76.O
468.0
673.1
480.3
627.4
633-9
662.7
710.0
809.8
825.1
1936
1935
1936
6.5
18.
Oct..
Nov.
These items represent the difference between the cost value and the
silver certificates.
.4
b5.0
bb.3
70.1
77>
79.0
128.7
326.2
422.1
ionet£ry value of silver bullion revalued and held to secure
39
Value of Selected Currencies In Terms of Gold
1928 = 100
United
States
1931-Dec.
1932-Eec.
1933-Dec.
193U-Dec.
100
100
bk
United
Kingdom
France
Hetherlandt
Svitierland
Belgium
101
100
100
100
100
70
51
100
100
100
100
100
80
82
71
100
100
100
100
72
72
72
69
67
b7
bo
60
bO
100
100
100
100
100
70
bl
19 37 -Dec
59
59
59
59
1938 -Mar..
59
bO
U7
82
71
72
bO
"7
bO
bO
U2
U2
82
81
81
70
70
June
59
59
59
70
72
72
72
July.
Aug.
Sept.
59
59
59
bO
1*2
59
58
Ul
Ul
81
80
79
70
70
b9
72
Oct.
Hot.
59
59
59
58
57
57
U0
uo
Uo
80
80
80
b9
59
59
59
57
57
57
uo
Uo
UO
80
1935-Dec
1936-Dec
Apr.
May-
.
Dec.
1939-Jan..
Feb..
Mar..
79
78
70
b9
b9
b9
b9
72
72
72
72
72
72
72
71
Japan
87
Italy
China 1/
40
Ratios of Index of Wholesale Prices
in 39 Countries to Index of Wholesale
Prices In the United States
MISCELLANEOUS
41-
42
Commodities Imported under Quota Provisions
Preliminary figures for January. February and March. 1939
Commodity
Cattle weighing under
200 pounds each
Cattle weighing
700 pounds or
more each, other
than dairy cows..
Quota
period
Unit of
quantity
Calendar Tear
Iitabllehed
quota
100.000
Whole milk, fresh or sour.
Quarter Tear
Calendar Tear
Calendar Tear
Bead
Bead
Oallon
60,000)
225,000)
3,000,000
Cream, fresh or eour
Calendar Tear
Gallon
Calendar Tear
Certified seed
Other
Quantity Imported
In January 1/
5.723
In Tebruary 1/
In March
9.522
16.750
5.651 2/
703
U07
209
338
1.500,000
86
13
133
Pound
15,000,000
1.06U.796
l,118,2Ull
950.582
12 months from Sept. 15. 19 Jg
Pound
90,000,000
1.756.703
l,3U8,UoU
33.U83.225
12 months from Sept. 15. 1938
Pound
60,000.000
2.062
52,328
652,9110
Square
1.051,168
335.355
228,166
2611,688
1,500,000
83U.28U
1U.S5U
ll.gfe2
5T.575
Pish, fresh or frozen,
filleted, etc.. Cod,
Haddock Bake
Pollock, Cusk and Boseflsh.
,
White or Irish potatoes:
Bed cedar ehinglee
Molasses and sugar sirups,
n.s.p.f.. which contain
soluble nonBugar solids,
(excluding any foreign
substance that may
have been added) equal
to more than 6$ of the
total soluble solids
1st 6 months Calendar Tear
Calendar Tear
Products of Philippine Islands:
Coconut oil
Calendar Tear
Pound
Wis, 000, 000
26,885,197
20.35"!, 521
U0.765.32U
Refined sugar
Calendar Tear
Pound
112,000,000
1.198.779
73"»
U.921,886
Calendar Tear
Pound
1,792,000,000
80, 3Ul,856
139.357.UoU
l69.lll.23U
Pound
6.000,000
526,853
1,016,1*2
1.0UU.939
Unrefined sugar
Cordage
1/
2/
12 months from May 1, 1938
8,991.
Partially rerlsed.
The tariff rate quota on imports of this class of cattle for the first quarter of the calendar year was filled on February 2, 1939
•
43
Summary of Criminal Cases in the United States
District Courts
Aloohol Tax. Customs, Narcotlce, Secret Service and Internal Revenue 1/
for the month of February 1939
INVENT0RT 0? CASES
Treas
HJ
10
.A2
1939
U.S. Treasury Dept.
Treasury Bulletin
Treas.
HJ
10
A2
•
U S
'
-
*OTHoir
1939
Treasury Dept.
Treasury Bulletin
^il
-
June
@FedFRASER