Full text of Treasury Bulletin : March 1939
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LIBRA**
wnoNl 5030
jUM
TREASURE
o
1
1972
»**«*,
BULLETIN
OF THE
TREASURY DEPARTMENT
MARCH
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
BULLETIN
OF THE
TREASURY DEPARTMENT
MARCH
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 Eight Months of Fiscal Years 1934-39
Expenditures by Classes, Reoelpts by Sources
2
3-9
Social Insurance Accounts
Cash Income and Outgo
10-11
12
General Fund and Public Debt
Composition of the General Fund
Major Financing Operations, Fiscal Years 1934-39
15
16-18
Composition of the Public Debt
Net Market Transactions by Treasury Investment Accounts
Sales and Redemptions of U. S. Savings Bonds
19
19
21
Holdings of Government Obligations
Bank Holdings of Government Obligations
22
23
Computed Interest, Yields on Public Debt Issues
24-26
Government Corporations, Credit Agencies
Assets, Liabilities, Proprietary Interest
Sources and Uses of Funds
28
29-30
Issues Outstanding
31
International Capital Movements
Summary Tables, 1938
Summary Table, 1935-38
33-34
35
37-38
Short-term Foreign Assets and Liabilities
Seourlty Transactions, Brokerage Balances
39-40
Foreign Exohange Transactions
4-1-42
Other Monetary Data
Balance Sheets of Stabilisation Fund
Gold an'. Sliver Stocks
Silver roductlon, Movements and Seigniorage
Foreign Exchange and Price Data
44-45
46-48
48-49
.
50-51
Miscellaneous
Commodities Imported Under Quota
Law Enforcement Statistics
53
__.
54
RECEIPTS
AND
-l-
EXPENDITURES
2
Summary Tables on Receipts, Expenditures and Public Debt
(In millions of dollars - on basis of dally Treasury statements, unrevised.)
Summary of Federal Receipts and Expenditures
.
Federal Expenditures
-
Recovery and Relief
(In millions of dollars - on basis of dall7 Treasury statement, unrevleed)
Public vorke. Including work relief
Total
Hellef
Other
Agricultural
Aid
Aid to
home
owners
Miscellaneous
Fiscal /ears
ended June 30
1932'
625
3«5
8.763
3.369
3.UU1
3.073
2.238
1933.
193 *.
1
1935.
•
1936.
1937.
193S.
l°3S-Feb.
Mar.
(•)
1.26U
1,896
7>»1
LU72
3"*2
153
196
105
1U5
22
Apr.
May..
June.
202
206
11*6
158
166
25
29
July.
Aug..
Sept.
216
23 6
2U3
172
193
Oct.
Dot.
Dec.
1939 -Jan.
7eb.
if
t
125
U9U
816
78U
)
1.8UU 1/
2.3 *8 1/
985 1/
78
6
1
U9
1*8
157
6U
170 2/
Ul*
195
IOU
215
298
2UO
500
303
182
5
?
36
(U)
7
20
9
7
17
23
21
11
23
20
17
C)
26
2U
15
10
C)
19>*
36
9
262
2Ug
307
207
19U
219
3
257
25U
185
160
31".
102 2/
13
10
11
f
36
73
(1)
9
lU
20
Includes funds expended for Civilian Conservation Corpe during these years.
Includes $9U, 000, 000 restoration of capital impairment of Commodity Credit Corporation.
Less than $500,000.
Indicates excess of credits, deduct.
Federal Expenditures
-
Revolving Funds (Net), and Transfers to Trust Accounts, etc.
(In millions of dollars - on basis of dally Treasury statement, unrevleed)
Revolving funds (net)
Agricultural
Aid
Transfers to trust accounts, etc.
Public
Works
Total
Fiscal years
ended June 30
62
7U
1932
1933
193U
1935
1936
1937
1938
1938-Feb
Max
Apr
May
June ....
1*96
3"*6
3U5
11
20U
121
lHl
17
18
(33)
(18)
(13)
(•)
C)
J
C)
C)
12
(•)
5
(1)
(1)
(1)
July....
Aug
Sept ....
13
10
Oct
10
Hor
Dec
62
7U
I
1939-Jar.
6
Feb
10
(1)
(1)
(2)
C)
C)
-
.
Collections of Internal Revenue
(In thousands of dollars - on oasis of reports of collections)
Tebruary
July 1 - Pebruary 28
Souroee of Revenue
meal
fiscal
year 1939 year 1938
1938
1939
Income taxes:
Corporation
Current
Back
IndlTldual
Current
Back
Excess-profits.
Total Income taxes.
Tax on unjust enrichment
Miscellaneous
Internal revenue:
Capital stock tax.
Estate tax
01ft tax
Alcoholic beverage taxesi
Distilled spirits
(imported, excise)
Distilled spirits
(domestic, excise)
Distilled spirits
rectification tax
Vines, cordials, etc.,
(imported, excise)
Wines, cordials, etc,
(domestic, excise)
Brandy used for fortifying sweet vines
Dealers In distilled
spirits; rectifiers;
manufacturers of stills
(special taxes)
Stamps for distilled
spirits intended for
export
Case stamps for
distilled spirits
bottled in bond
Container stamps
Floor taxes
Tormented malt liquors...*
Brewers; dealers in malt
liquors (special taxes).
Total alcoholic
beverage taxes
Tobacco taxes:
Cigars (large)
Cigars (email)
Cigarettes (large)
Cigarettes (small)
Snuff
Tobacco (chewing
and smoking)
Cigarette papers and tubes.
Leaf dealer penalties, etc.
Total tobacco taxes.
Documentary, etc., stamp
taxes:
Bonds of Indebtedness,
issues of capital stock,
deeds of conveyance, etc.
Capital stock and similar
interest sales or transfere
Playing cards
Silver bullion sales
or transfers
Sales of produce for future
delivery (repealed as
of 7A/38)
Total documentary, etc.
stamp taxes
1/
Less than $500.
II.863
12,676
9.99*
16,800
58l*,ll*g
109
3L580
1*81,212
8,221*
9.213
1.197
58.127
21,218
21*,
652
57.5*
1*38
68,781*
1*91
97.65s
L2U2.363
*.319
570.062
88,970
533.893
58.053
1U.190
1,265,16s
3.087
16U
19.976
2,086
273
20,036
1.367
126.538
219,188
6,730
138.519
259.561
5.630
1.515
l.!*17
17. 819
21,016
16.589
13.8U1*
17*. 087
157.233
669
638
7,*56
7.789
25
25
362
390
1*26
22
69
355
32
79
U.101
393
*,63*
3.810
333
*.756
i/
26
5SU
870
*3
552
287
152
6.1*16
6,681
15. 08)*
15.97*
5.380
166,286
179.3*9
39
1*6
2,500
2.72*
35.918
33.005
«5*
10
808
11
35. 3*6
536
3U.U76
511
1
4.0*2
it.ooU
_?
U0.837
39.90*
389.721
8.U98
77
13
328.378
*.521
36,318
880
8
384. 2*1
8.596
9*
15
327.2*7
l*,U05
35.127
76*
1
1
37s, 6s6
376.2*9
Tebruary
Miscellaneous Internal
revenue - continued
Manufacturers' exclss taxee:
Lubricating oils
Oasollne
Tires and inner tubes
Automobile trucks
Other automobiles and
motorcycles
Parts or accessories for
automobiles
lleotrloal energy
Radio sets, phonograph
records, etc
Mechanical refrigerators.,
firearms, shells, and
eartrldgee
.
Pistols and revolvers
Toilet preparations, etc.,
(including repealed
5* «*>
Matches (including
repealed taxes)
Brewers' wort and malt
(repealed as of 7/ 1/38).
Articles made of fur
(repealed as of 7/1/38).
Sporting goods
(repealed as of 7/1/38).
Cameras and lenses
(repealed as of 7/1/38).
Chewing gum
(repealed as of 7/1/38).
Total manufacturers'
excise taxes
Miscellaneous taxes:
Bituminous Coal Act of 1937
Sugar Act of 1937
Telephone, telegraph,
radio and cable facilities, leased wires, etc.
Transportation of oil
by pipe line
Leases of safe-deposit
boxes
Admission to theaters,
ooncerts, caberets, etc.
Club dues and
Initiation fees
.,
Adulterated and process
or renovated butter, mixed
flour and filled cheese.
Oleomargarine, Including
special taxes
Harcotlcs, Including marihuana and special taxes.
Coconut and other
vegetable oils processed
National firearms Act
All other. Including repealed taxes not listed
above
Total miscellaneous
Internal revenue,....
l.*77
1.39*
1,51*
39*
1*39
22
191
3.198
3.586
13.159
m.263
12.715
2.979
13.9H
107
127
2U9
29.209
2,781*
2.905
33.990
193«
1939
Total miscellaneous taxes
1.3*3
July 1 - Tebruary 28
Souroes of Rsvenue
Payroll taxesi
Social Security taxes
(Social Security Act):
Taxes with respect to
employment (title VIII)
Tax on employers of
8 or more (title IX)...
Total Social
Security taxee
2,129
1.715
13.51*!
riseal
year 1939
Tlscal
year 1938
21,092
592
2.151
711
3.319
21.759
1*3.069
23.667
*.937
5.965
3.863
22,888
33.290
698
567
3.176
5.171
25.968
5.9*2
25,l*U
261
619
3.657
2.917
*.7?3
5.863
58
7
2,a2
2,23*
1*0
62
69*
1,188
7.587
11,028
2
1*27
121*
3.916
I*
at*
12
3*5
17
1*07
277
*.590
32
1*32
7*6
*.3*2
1*
110
18U
96S
1/
1*6
106
659
33.950
29.297
261,1*7
296,538
252
16,1*27
3.H0
3.3*
1*0*
*17
105
11*3,086
21,71*1
6,286
l
*.307
2,278
*6.933
2.2*7
13.210
1,016
1.007
15.3*2
15,662
1.093
1.095
7,1*11
8.583
227
2U0
1.309
1,3*2
1.503
1.660
13.382
l*.*67
631
681
3.9*1
1»,2SU
1
1
16
15
82
113
1.63*
1.799
15
18
263
290
2.375
2.327
18,2**
19.278
1/
1/
5
6
10
121
250
997
13.556
11,822
111,008
82,180
1*9.685
139.290
1,522,227
1,576,908
7"*.571
25.727
388,612
370.525
37.69*
31.39*
86,811*
76.123
112.265
57,121
U75.U26
l*6,6h8
Carrlere Taxing Act of 1937
13.605
lU.915
82,169
122, *73
Total payroll taxes....
125.870
72.036
557.595
Total Internal revenue.
333.517
280,601
3,326,50*
569.1a
3,l*ll*,28lT
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
Income and Profits
Period
Individual
Total
Payroll Taxes
Social Security Act
Corporation 1/
Carriers'
Taxing Act
Of 1937
Total
Title IX
Fiscal year ended June TO
2.939.05U
3,oUo.lU6
2.U2S.229
1.557.729
1.619,839
2,672.239
3.299.U36
3.520.208
1929
1930
1931
1932
1933
193U
1935
1936
1937
1938
2.371.27U
1.095.51*1
1.235.733
2.1*10.259
1,11*6,81*5
1,263,1*1!*
1.860.0U0
1.056.757
7U6.791
819,656
1.105.791
833.6U8
1,026.393
629.566
1.1*27.1*1*8
671*, 1*16
2.173.769
2.622,813
1,091.71*1
1,286,312
578.678
753.032
1,082,028
1.336.501
280,601
68.78U
9l6.9>*5
715. 60U
1*0.793
1*03.635
M53.195
5.658.765
1938-Feb
Mar
Apr
May
June
1*27.191
352. 57U
U19.509
527.113
39 1*.218
1*00,11*7
US
207.339
502.917
58.119
90.267
27.991
311.969
72.036
25.727
1,016
31.391*
3.1*70
33.900
21*. 653
292.757
91.283
73.859
70,092
56,957
6,1*10
>*.927
1*,328
592
7
30.92"*
21,81*5
77.707
85.736
61,026
65,608
5.181
5.509
779
11.500
1U.619
1U.939
12.6U7
U2
2.358
U8.805
l>*.905
277,765
1*2.1*92
7>*7.295
550.71*3
17.839
257.986
July
Aug
350, 1(26
1*2.923
n.999
762,286
3U,6o9
S«pt
682, 5UU
1*95.51*8
12.76U
227.573
267.975
2.861*
2.071*
Oct
Hot
Dec
315,061
30U.572
662,252
1*2.162
32,691*
81,508
81.979
2.939
59.282
7.287
23.978
267.887
6U, 601
l».731
U81. 509
9.U68
12.513
213,622
2,UlU
1*83
1939-Jan
Feb
315. 8U5
51.598
32.531
25.191
98,992
125,870
25.150
57.521*
19.067
32.333
59.035
333.517
571
37.691*
302,1*76
36,1*91
7"*.
l*,78l*
Miscellaneous Internal Revenue
Period
Capital
stock
Estate
and
01ft
US
287
1U9.U76
265.71*5
71*2,660
Manufac-
Alcoholic
beverages
Stamp
turers'
excises
Miscellaneous
Unjust
enrichment
1U.915
96
1U.7S1
12.118
11
1U.807
13.605
Agricultural
Adjustment
71 seal year ended June 30
2U7.751
390.038
>»3.133
31*2.275
68,990
69.919
379. 5>t0
UU9.85U
U16.75U
39.90U
»7.855
3.586
2.91U
29.137
26.71U
11,780
12.U11
U91
1.59U
U2.035
UU.203
5U.OU9
!*3.583
1*9.633
3.1*53
3>*.
367
50,862
2,928
2.9U8
27.727
31.U08
12,931
11.396
12.787
327
U62
7U6
25.6U5
27.296
22.5UU
52.UU0
52.522
U7.2UU
U7,U6l
5U.U32
50.952
3.373
U.078
3.029
3U.3UU
30.UU5
3U.050
lU.675
12.520
13.962
1,036
286
698
2.552
37.519
5>*.603
U6.291
36U
322
29.32"*
3^.701
57.573
51.270
1*7.539
1*3.815
3.592
U.212
3.895
31.517
31.399
31.087
15,060
15.2U8
12,951
257
UU3
763
300
l6U
27.828
22.062
38.151
35.918
''7.359
3.831
3.198
3>*.355
13.O3U
13.556
397
U38
61.897
6U.770
1931*.
1.1*81,160
19351936.
1937.
1938.
I.667.U23
2.021,075
2,207.608
2.287,075
80 168
91 ,508
9U ,91*3
137 .U99
139 3>*9
139.290
196.277
Apr..
May..
June.
305.51*8
12.777
11.695
10.U32
8.70U
U3.17U
258,911
Ul 1,022
505, U6U
59U.2U5
U16.87U
567.979
UUU.277
398.579
U02.739
U25.169
U59.179
501,166
552. 25U
568,182
273
?U7
21,605
62,686
33.005
U3.U50
162,061
160,952
190,879
166
1U2
275
25.526
2U.923
38.550
July.
Aug..
Sept.
228,760
2U1.655
183. U3U
50,822
60,362
II.653
Oct.
Hot.
Dec.
191. 13 *
185. 659
177. 0U1
1979-Jan.
Feb.
16U.858
1U9.685
1
6U.173
77.729
U6.95U
32.2U1
57.578
66,580
1*6.233
607.780
629,887
568,189
500,972
873, 0U8
1938-Feb.
Mar.
1/
2/
U3U.UU5
3U.322
25.010
18,310
1U.026
87.U96
1U7.156
108, 19U
92.132
98,289
131, 70U
19291930.
1931.
1932.
1933.
1*8.078
U7.U22
3U.310
113.138
212.112
378, SUO
1*50.339
U0.837
166
3UU
138
33.950
Including excess-profits tax collections.
Including tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the act of June 16, 1933*
371. U23
526,222
71.637
6.073
6,217
UJ
D
Z
UJ
>
UJ
UJ
u_
O
if)
U
UJ
_i
_i
O
u
Customs Duties and Taxes Estimated, and Value of Dutiable and Taxable
Imports, by Tariff Schedules: July - December, 1938
(In thousands of dollar.) i/
Month
Estimated Receipts from Taxes Imposed by Various Revenue Acts on Imports
into the United States: July - December, 1938
Article
8
.
U
8
8
8
8
13
9
9
10
Receipts and Expenditures under Social Security Act
(In million* of dollars - on basis of dally Treasury statements, unrevlsed)
Receipts
Employment
taxes
Title VIII
fiscal Tear
Expenditures
Tax on Employers of
8 or more,
(Title IX,
Total
Becelpts
AdminisUnemployment
trative
Expenses compensation
adminisi/
tration
Sec. 901)
1936
1937
1938
57.8
90.1
51U.U
1939-July.
Aug..
Sept.
28.
2.6
8.0
97.8
2.2
Oct..
Nov..
Dec.
Jan..
!eb..
Total fiscal year 1939 to date.
Grand total
•
5
30.6
95-7
2.5
2.9
7.0
28.S
102.3
12.9
52.1
.5
252.1
15.
601*. 5
20.0
9-1
U1.9
31.U
105.8
2.7
1.9
1.9
1.8
8.0
5.8
1.2
33-5
102.7
3.0
1.8
1.7
1.6
6.2
"1.7
1.7
1.7
15".
Old-Age
Assist-
Total
grants
ance,
etc.
states
9
.6
19>t.3
kefunde to
Transfers
states of
Total
taxes col- to Old-Age
Expendilected under Reserve
tures
Title IX, Sec Accounts
(Title II)
37
901 2/
Grants to Statee
to
26.9
157.8
229.6
27.8
166.9
271.5
30.0
28.1*
265.O
387.0
1*7.7
719.1
38.0
30.6
8.0
38.0
38.0
33-0
1*2.8
t7.1
26.6
12.3
32.0
32.0
32.0
60.3
.6
38.0
20.U
11.7
U.6
2.5
26.J
21.6
30.9
2U.1
37.0
50.0
69.6
75-8
21*.
6.8
388.7
86.5
J25^
179-6
217.6
1.097.1*
23M
1.331.
593.9
683.8
1*0.6
1*0.6
77.9
70.5
80.
1*5.9
292.0
5?3-7
9Wt.o
1.718.9
Includes only expenditures from appropriations mr.de 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.
$*I0, 561, 886. U3 appropriated in fiscal year 1938 for making refund to certain states of portions of employers' tax for the calendar year
1936
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 I937 under Title IX, Section 901 of the
Social Security Act.
1/
2/
3_/
Old-Age Reserve Account
(In millions of dollars - on basis of daily Treasury statements, unrevlsed) l/
Receipts
Cumulative as of end
of Plscpl Year
or of month
Expenditures
Appropriations by Congress
Transfere
from
general fund
Balance avallable for
transfere
1936
1937
1938
265.0
652.O
1939-July.
Aug..
Sept.
600.O
728.0
7bl.O
1*35.0
Oct..
Nov..
793.0
825.0
857.0
332.0
300.0
Dec.
Jan.
Peb..
89U.O
91*1*.
Unexpended
Total
Investments
Total
Receipts
2.3
17.7
2=7.3
782.7
1,125.0
1,125.0
1,125.0
17.7
17.7
17-7
1.1U2.7
1.1U2.7
1,11*2.7
268.
1,125.0
1,125.0
1,125.0
17.7
17.7
17.7
231.0
181.0
1,125.0
1,125.0
17.7
17.7
397.0
36U.O
Investments
To credit
of appro-
priations 2/
265.0
765.0
113.0
Benefit
Payments
267.3
777.3
267.1
662.3
6.2
7.0
7.9
1.136.5
1.135-7
1,11*2.7
1.11*2.7
1.11*2.7
9.0
10.0
11.1
1.133.7
1.132.7
1,131.6
1,11*2.7
1,11*2.7
12.2
1.130.5
1.129.3
5.U
13- 1*
1,131*.
To credit of
disbursing
officers
.1
.1
113.0
2.0
700.3
733.3
766.3
*35.0
397.0
1.2
798.3
332.0
300.0
268.0
830.
S62.3
89U. 3
91*1*.
361*.
3."»
2.U
1.3
?*
231.0
181.0
U.O
All figures are cumulative as of the dates indicated.
Includes balance of appropriation available for transfers.
1/
2/
Unemployment Trust Fund
(In millions of aollars - on basis of dally Treasury statements, unrevlsed)
Expenditures
Receipts
Tiscal Tear
18.9
291.7
1936
1937
1938
-
1939-July
Aug
71+7.6
Interest on
Investments
.'1
2.7
15-2
Total
Receipts
Withdrawals
by Statee
19.0
29U.U
762.8
18.
.1
1.0
191.0
312.1*
881*. 2
312.3
872.0
.1
12.2
36.O
52-7
872.0
95^-C
950.0
11.7
8.3
7.7
936.0
1.032.0
l.ObU.O
20.1
22.7
8.2
Total
19.0
Investments
Cash
Sept
35.5
131.3
35."
35-5
131.3
35-»
1*0.0
883.7
962.3
957.7
Oct
Nov
Dec
38.0
125.1
36.9
38.1
125.1
36.9
39.7
26.5
.0511.7
19.1*
,072.2
Jan
Peb
38.7
iUb.3
11.9
50.6
1U8.3
33.3
36.0
,089.5
,201.8
1.07't.O
1,185.0
15.5
16.8
589.2
12.0
601.2
283.6
1,201.8
I.I85.O
16.8
1,61*7.1*
30.0
1.677.1*
!*75.6
1,201.8
1.185.0
16.8
Total fiscal year 1939 to date
Grand total
1/
Deposits by
States 1/
95°.
Includes In 1°38 the proceeds of refunds to States of taxes collected under Title IX, Section 901 of the Social Security Act, amounting
to $1*0,561,8^6.1*3.
11
Receipts and Expenditures Under Railroad Retirement Act
(In millions of ("oilers - on basis of dally Treasury statements, unrevleed)
Receipts
Fiscal Year
Expenditures
Taxes upon
carriers and
their employees
1936
1937
1938
Administrative
Expenses
•
.u
25.5
Sept
.2
.2
•
Oct
.8
Sot
Dec
26.5
Jan
Feb
.9
Total fiscal year 1939 to date
Grand total
1U6.U
1.5
1U9.O
22.0
9.5
11.5
22.2
9.7
11.8
11.7
16.7
16.8
1.8
•
3
11.5
16.5
16.5
•
3
1.5
.2
.2
27.5
.3
81.6
2.0
89.0
91.0
232.1
6.U
235.U
2U1.8
Includes Railroad Unemployment Insurance Act
Railroad Retirement Account
(In millions of
3
Total
Expenditures
.3
3
.u
150.1
1939-jjly
Aug
Note:
Transfers to
Railroad Retirement Acct.
.3
13
Cash Income and Outgo of the Treasury Fiscal Year 1939
(These figure, are not intended to reflect the budgetary position of the Oovernment. They will
not agree with budgetary figure, on
receipt., expenditure, and deficit euch a. those appearing in Dally Treasury Statements and In other tables
in this Bulletin.
(In million, of dollar.)
CASH INCOME AND OUTGO AND NET CASH OUTGO
January 1934 to Date
DOLLARS"
1934
1935
1936
1937
1938
1939
DOLLARS
Millions
Mill ions
1.200
1.200
Cash Income
1.000
1,000
800
800
600
600
200
200
[
JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN
''
'
I
I
1
I
I
I
I
GENERAL
FUND
AND
-14-
PUBLIC
DEBT
15
Composition of Treasury General Fund
(Is millions of dollari - on basis of dally Treasury stataments.
Sod of month
vornludl
16
Statement Showing Details of Major Financing Operations of the Treasury
for the Period July 1, 1933 to March 15, 1939
17
Statement Showing Details of Major Financing Operations of the Treasury
for the Period July 1, 1033 to March 15, 1930 - Continued.
(In millions of dollars)
18
Statement Showing Details of Major Financing Operations of the Treasury
for the Period July 1, 1933 to March 15, 1939 - Continued.
19
Composition of the Public Debt
(In
mllllom of dollars - on basis of dally Treasury statements. unreTleed)
20
..
.
21
United States Savings Bonds - Sales and Redemptions from Mar. 1, 1935 to Dec. 31, 1938
Also Showing Accruals Certified and Outstanding Bonds as of Dec. 31, 1038
Redemptions
Sales
Month
Maturity Value
SERIES A-1935:
1935-Mar.
Maturity Value
Sale Price
Redemption Value
$5L75l.U75.00
$38,813,606.25
Apr...
Kay...
fane..
31,715.125.00
23.797.525.00
21,525,525.00
23.786.3U3.75
I7.8U8.IU3.75
16.1UU.1U3.75
S229.U25.00
U7s.U25.00
$172,068.75
358.818.75
July.
lug...
Sept .
27.909.600.00
16,093.350.00
12.555.350.00
20.932,200.00
12,070,012.50
9.U16.512.50
580,050.00
562,225.00
S63.575.00
U35.037.50
U21.66S.75
6n7.68l.25
Oct
Hot...
Dec...
26.538,850.00
25,027,650.00
3U.929 ,075.00
19.90U.137.50
18,770,737.50
26,196,806.25
975.225-00
867,200.00
772,200.00
731.Ul8.75
650.U00.00
579.150.00
271. 8U3, 525.00
203.882.6U3.75
5,328,325.00
3.996.2U3.75
60, 11*3,175. 00
U5, 107, 381.25
30,889,875.00
35,770,825.00
23,l67,Uo6.25
26,828,118.75
1.162,750.00
1,002,300.00
1.6U0.175.OO
1.233, 7U2.25
Apr..
May..
June.
3U. 782, 500. 00
26,086,875.00
22,266,712.50
July.
Aug..
Sept.
U7.822.U25.OO
3 *. 376, 575-00
3U.21U.575.OO
Oct..
Hot..
35.2Ul.550.00
31*, 257, 225. 00
Dec.
.
.
.
Total.
SERIES B-19361
19 36- Jan...
Tec...
Mar...
2.207.U25.00
2,128,125.00
2,209,950.00
1,662, 1U5.00
35,866,818.75
25.782.U31.25
25,660,931.25
2,129,175.00
2,833.800.00
1.75U ,918. 75
1.81U ,202.50
2.136 ,U2g.25
80,191,1*50.00
26.U3i.l62.5O
25.692,918.75
60.lU3.587.5O
3.356.025.00
3.OO0.UO0.00
3.523.250.00
2.53U ,621.25
2.266 .963.25
2,660 ,762.00
1*93,063,050.00
369.797.287.50
27,801.375.00
20.955.25U.50
128,655,250.00
61, 51*1,025. 00
96,U9l,U37.«iO
U6, 155, 768. 75
U2, 626, 550. 00
3.685,075.00
3.U38.600.00
5,132.350.00
2.785.U16.50
2.599.196.50
3,g85,6sU.50
5.935.150.00
6.562.625.OO
5,835.675.00
U,l*9U,3gU.75
U.U93, 362.OO
29,688,950.00
35.683,925.00
1
Total.
series 0-1937:
1937-Jen..
Tel..
Mar..
872, 062. FO
751, 725.00
56,835,1*00.00
26.762, 9U3. 75
2,1*08,000.00
1,602 U29.75
1.665 25U.O0
Apr..
May..
June.
1*2,878,800.00
3>*. 515,500. 00
38,689,675.00
32.159,100.00
25.886,625.00
29,017,256.25
July.
Aug..
Sept.
5O.555.225.OO
1*0.1*82. 775.00
35.327.775.00
37.916.U18.75
30,362,081.25
26.U95.831.25
5,917.700.00
5.286.U50.O0
6.530,925.00
Oct..
Not..
37.11*6,225.00
37.2l8.65O.OO
62,179,175.00
27,859,668.75
27,913.987.50
U6,63U,381.25
8.166,975.00
6.5U9.U25.00
6,758,500.00
U, 985, 212. 00
626.025,1*75.00
U69.519.106.25
69.8Ol.U50.OO
52.976,597.75
130.93 1*, 075-00
59.539.675.00
59.892.350.00
98,200,556.25
UU.65U, 756.25
UU. 919, 262. 50
7.111.225.00
6.U39.600.C0
g. 780, 625. OP
5A23 .893.25
U.911 .913.25
6,701 ,025.75
Apr..
May..
June.
1*9,813.300.00
l*3.U98,075.00
Uu. 878, 775.00
37.359 975-00
32.623 556.25
33.659 081.25
9.28U.350.0O
7,962.700.00
8.9U1.775.00
7,092 ,669.00
6,088 126.50
6.83U 653.50
July.
Aug..
Sept.
5U, 251, 925. 00
U7, 913. 175.00
U2, 769, 875- 00
U0.688 .9U3.75
35.93U 881. 25
32.077 .U06.25
8, US7.
8,806,250.00
575-00
8,709,550.00
6.7U6 ,622.25
6.502 907.75
6.682 556.50
Oct..
Hot..
53,2?0,625.OO
Ug.3Ul.275.OO
78, 99U, 850.00
39.915 .U68.75
36,255 956.25
59.2U6 1?9.06
S,2U2,500.00
7.UOU.725.00
8,287,375-00
6.331.9U1.75
5.692.271.25
6,366,895.25
7iU.OU7.975.OO
535.535.972-81
98,U58,250.O0
75.375.U76.00
1.578,735.010.31
201.3g9.uoo.oo
153.303.572.00
Dec.
SERIES 0-1938:
193S- Jan...
7eb...
Mar...
Dec.
Total, all series.
2. IOU, 980, 025.00
Total Sale Price, all series
Accruals certified to Dec. 31. 1938
Add:
1.578.735.010.31
37.862.OOU.25
Totel sales and accruals
Less: Redemptions as shown
1.6l6,597.0lU.56
153.303.572.00
Outstanding December 31. 1938
1.U63.293.UU2.56
U.970.81U.25
U.U2U, 519.75
U,011,8U9.00
U.963, 752-25
6,212,223.50
5,150,182.75
33
Holdings of Direct and Guaranteed Interest -Bearing Obligations
of the United States Government
(In millions of dollars)
Date
23
Bank Holdings of U.S. Government Obligations and Securities Guaranteed
by the Government, Dec. 31, 1938
(Book values as reported to the Comptroller of the Currency, the Board of Oovernors
of the federal Reserve System, and the federal Deposit Insurance Corporation)
Direct Government Obligations
(In millions of dollars) 1/
. .,,
,
24
Amount of Interest-Bearing Debt
Outstanding, the Computed Annual Interest
Charge and the Computed Rate of Interest
tod of
Month
1916-June.
191 7- June.
1918-June.
1919-June.
1920-June.
1921-June.
1922- June.
1923- June.
Computed
Interest-bearing Computed annual rate of
debt
lntereet charge Interest:
Percent
2.712. 5>t9.1t76
ll.985.SS2.U36
25.23'». l»96.273
2U, 061, 095. 361
23.737.352.080
22. 711.035. 587
1925-Jon«.
1926-June..
1927-June.
1928- June..
1929-June.
1930-June.
19.3S3.770.s6o
1S.250,9U3,965
17.317.695.096
16.638.9U1.379
15. 921. 892. 350
1931-Jnne
1932-Jnne
1933-June.
193^-June.
1935-June.
l6,519,58S,6Uo
19.161.273.5U0
22.i57.6U3.120
26.U8O.Us7.920
27.6U5.229.s26
Date
$23.osU,635
83.625.Us2
U6s.61s.5UU
1.O5U.2OU.509
1,016.592,219
2.376
3.120
3.910
U.17S
U.2S5
1.029.917.903
962.896.535
s76.960.673
829.680.oUU
339
2U0
21U
180
105
793,"»23.952
"t.093
722.675.553
671.353.112
656.65U.311
606,031,831
3.960
3.877
3.9^6
3. S07
927. 331. 3>»l
588.987.U38
671.60U.676
7^2.175.955
8U2.301.133
750.677.802
3.566
3.505
3.350
3.181
2.716
838,002,053
9U7.O8U.058
2.559
2.582
2.589
951.738.835
956.207.791
977.27U.331
2.597
2.581
2.5S2
Monthly averages of daily
figures U/
1938-Jan
Treasury
32.755.631.770
35. 802. 586,915
36, 575. 925. 880
1938-July.
Aug...
Sept..
37.051.561,281
37.8U9.9s2.U93
36.6U1.937.719
Oct
Hot
Dec
38, 06S. 027. 769
1919- Jan
Feb
37.896.865,589
92>»,3U7,089
2. 582
2. 582
3S,89S,S51,39l
978.6oU.732
982, 917. SOU
1,005,833,188
39.097,233,713
1.011, 231, U67
39. 325. 527. 811
l,017,225,0U2
2,sg6
2.587
?.5S6
On baels of Public Debt Statement
through June 30.
1937; remainder on baale of dally Treasury stetemente
unrevieed.
"Interest-Bearing Deb " figures Include
discount on Treasury BIIIb, amoun t being deducted
prior to calculating the average Interest rate.
rates
£/
eluding
rails 3_/
Peb
Mar
2.65
2.6U
2.6U
3.17
3-15
3.16
3.08
3.06
3.05
Apr
May
June
2.62
2.51
2.52
3.23
3.1U
15
July
Aug
2.52
2.51
2.58
3.12
3.10
3.12
2. US
2.50
2.U9
3.07
3.06
3.0U
2.U7
2.UU
3.00
2.98
2.86
2.86
2.UU
2.UU
2.99
2.98
2.98
2.98
2.85
2.S5
2.85
2.86
2.97
2.96
2.85
2.SU
Sept
Oct
Hot
Dec
1939-Jen
Feb
1936-June.
1937-June.
1938-June.
N0TZ:
Corpo-
long-ten Corpo- rate!,
ex
i/
*971.562.590
22,007.590,75U
20.9s1.5g6.U29
20.210,906.251
192"»-June.
Comparative Yields of Average of All
Long-Term U.S. Treasury Bonds and Average
of High-Grade Corporate Bonds
Spread between
long-term
Treasury and
corporate!
Includ.
Includlng rails ing rail
•
52
•
"•3
•52
.U2
,Ul
3. 08
.61
.U6
2.99
2.99
.63
.Us
.63
>7
2.98
2.98
2.99
.60
.59
.U6
.U7
.51
•
5>»
.Ui
•
5
?
.56
.U6
.U2
55
.Ul
•
•53
•
5>»
•
39
.U2
Weekly figures
as of Saturday
closing prices^
Feb.
U
Feb. 11
Feb. IS
Feb. 25
U
Mar.
Mar. 11
2>3
2.U3
2.38
2-33
Monthly figures for 1937 in January
1/ Average of Treasury bonds due or
twelve yesrs.
2j Avere^e of 20 bonds.
Average
of 15 bondB.
3/
5/ January 1938 through April 1938,
Saturday fieTires.
57 Or the most recent sale if there
Saturday.
.55
.5$
•
•
55
55
•S9
.63
.Ul
.Ul
.Uz
.U3
.^7
.si
bulletin, Page 15.
callable after
monthly average of
was no sale on
£
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°5
GOVERNMENTAL CORPORATIONS
AND CREDIT AGENCIES
-37-
:
5
.
28
Governmental Corporations and Credit Agencies
of the United States: Jan. 31, 1939
Proprietary Interest of the United
States in Governmental Corporations and
Lending Agencies: Jan. 31, 1939
(Compiled Prom 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
Not
GuaranGuaranteed by
teed by
United
United
States
States
Assets
Reconstruction Finance Corp.
Commodity Credit Corp
Export-Import Bank of
Washington
Federal Crop Insurance Corp.
Federal Deposit Insurance
Corp
Tennessee Valley Authority..
Public Works Administration.
United States Maritime
Cornel ssion
Rural Electrification Admn..
Home Owners' Lean Corp
Federal Savings & Loan
Insurance Corp
Federal Savings &
Loan AssnB
Federal Home Loan Banks
Federal Housing Admn
United StateB Housing
Authority
Farm Credit Adminlstretlon.
Federal Farm Mortgage Corp..
Federal Land Banks
Federal Intermediate
Credit Banks
Banks for Cooperatives
Production Credit Corp
Regional Agricultural
Credl t Corps
War emergency corpe. &
agencies (In liquidation):
Navy Department (sale of
surplus war supplies)...
United States Housing Corp
United States
Railroad Admn
United States Spruce
Products 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 Assn.
Cooperatives, Inc
Treasury Department
Railroad loans (Transportation Act, 1920)..
Securities received from
the Reconstruction Finance Corp. under Act
of Feb. 24, 1938
RFC
Total.
•
1,876.1
39L8
1.266.8
110.0
7
"7.7
6.8
.1
"61.8
235.0
37.2
172.5
117."
"7.1
28". 8
39-8
139.
8.7
219.5
S5.6
3.082.3 2,911.0
Owned
by
United
States
99-5
75.3
6.9
126.1
150.0
226.3
37.2
106.9
93."
95.6
6"."
1.2
116.2
"7.1
1."
113.0
1.2
1,608.6 1,391."
2.332-3
2.3
5-7
"5-3
1,818."
171.8
12". 6
271."
188.8
122.3
175.7
3.3
21.8
3-3
"6.2
193.
3.9
•3
161.5
lis.o
171.9
320.6
95.7
181.6
122.0
18.
".7
2.0
.7
u
12". 7
37.2
".7
2.0
•
7
1/
1/
11.1
1/
11.1
8.1
7.2
•9
186."
186."
98.7
86.9
11.8
7.3
.2
7.1
2.2
26.0
"6.3
1.0
2.2
25.0
"5."
•
9
".6
59.3
".6
57.8
30.2
30.2
2.6
2.6
12.275-9 5,020.1
Excluding inter-agency transactions.
1/ Less than $100,000.
509.8
206.5
Privately
owned
2,858.1
38?.7
",015.0
29
Statement of Sources of Funds of Certain Corporations and Agencies Maintaining Checking
Accounts with the Treasurer of the United States: July 1, 1«38 to Jan. 31, 1939
(Compiled from latest reports received by the Treasury)
30
Statement of Sources of Funds of Certain Governmental Corporations
and Agencies from Inception of Organization to Jan. 31, 1939
31
Principal of Outstanding Obligations Guaranteed by the United States
(In millions of dollars - compiled from reports received by the
Treasury)
End of month
THE
CAPITAL MOVEMENTS BETWEEN
UNITED STATES AND FOREIGN COUNTRIES
32-
33
Summary Table - Change In Short-Term Foreign Liabilities
and Assets
by Classifications and Countries During 1938
(Zn thousands of dollars)
United
Kingdom
Classification and data
Germany Italy
TOTAL SHORT-TERM
FOREIGN LIABILITIES:
Dec. 29, 1937
Dec. 28, 193s
261.1*57 1*3.867
*38,805 190,899
Change 1/
TOTAL LIABILITIES
PAYABLE IN DOLLARS:
Dec. 29. 1937
Deo. 28, 1938
Change 1/
177.3*8 *7.032
207.36lt 138.517
357.633 187. 156
38.952 25.655
19.883 22.57*
•19.069 -3.081
38,525 2*. 313
19.3*0 22,326
150.269 1*8,639 -19.185 1,987
Deposits for
foreign account:
Dec. 29, 1937
Dec. 28. 1938
Change 1/
3**, 8*1 181,690
37.911 23,161*
19,090 21,*20
•15*. 781
52,266
•18,821 -1,7**
Bills held for
foreign account:
Dec. 29. 1937
Dec. 28, 193s
13.310
8,22*
3.2*8
2.11*
255
190
902
761
-5.086
-I.I3U
-65
-1*1
392
12
3.801
-380
-3.793
3.b02
2.0**
3.3**
359
60
95* 1,300
-299
190,060
Change
Short-term United StateB Government
obligations held for foreign account:
Dec. 29, 1937
Dec. 23, 1938
Change
Other liabilities payable in dollars:
Dec. 29, 1937
Dec. 28, 1938
Change
TOTAL LIABILITIES RATABLE
IN FOREIGN CURRENCIES:
Dec. 29, 1937
Dec. 28, 1938
Change
Borrowings from foreign banks:
Dec. 29. 1937
Dec. 28, 1938
Change
It.
556
129,1*21*
8
5*,093
81,172
5.350
3.7*3
27.079
-1.607
17.800
*7,830
*97
100
38*
30.030
-397
+15U
30,*10
27.70*
l*,*8l*
-2.706
-1.077
Other liabilities payable
In foreign currencies:
Dec. 29. 1937
Dec. 28. 1938
5.883
5.638
236
Change
-2*5
Acceptances made by foreign banks:
Dec. 29. 1937
Dae. 28, 1938
Change
TOTAL SHORT-TERM FOREIGN ASSETS:
Dec. 29. 1937
Dec. 28. I93S
Change
TOTAL ASSETS PAYABLE
IN FOREIGN CURRENCIES:
Dec. 29. 1937
Dec. 28, 1938
Change
Banks own deposits abroad:
Doc. 29, 1937
Dec. ?>., 1938
Change
Deposits abroad for account
of domestic clients:
Dec. 29, 1937
Dae. 28, 1938
Change
Other assets payable in
foreign currencies:
Dec. 29, 1937
Dec. 28, 1938
Change
TOTAL ASSETS PAYABLE IN DOLLARS:
Dec. 29, 1937
Dec. 28. 1938
Change
Loans to foreign banks:
Dec. 29, 1937
Dec. 28, 1938
Change
Acceptances made for foreign banks:
Dec. 29. 1937
Dec. 28, 1938
Change .«••.•..........
Other assets payable in dollars:
Dec. 29. 1937
Dec. 28, 1938
Change
,
,
1*27
_i!L3
+116
538
3,*07
369
-133
8U.758
87.608
13.*57 126,071
13.256 90,905
2.910
35.166
1*5,019
1.297
1.536
-12.780
239
31.851
2*. 305
712
1,161
-7.5*6
1*1*9
57.799
*.7*3
l»,l*09
-33*
21,205
16,305
.900
26,95
l*2,6U
15.690
8,9°lt
31.117
+?2.1?3
1*99
1,160
34
Summary Table
-
Change in Foreign Balances In Brokerage Accounts as Reported by Brokers
and Dealers in the United States, During 1938
(In thousand! of dollars)
Classification and
35
Net Capital Movement between the United States and Foreign Countries
1935 through December 1038
(In thousands of dollars.
Classification and
Capital lnflo» or capital outflow (-)
)
f>
in
37
Short-Term Foreign Liabilities as Reported by Banks and Bankers
In the United States for December 1938
(In thousands of dollars)
United
Kingdom
Classification
and data
franca
Germany
Italy
Netherlands
Svitser-
land
Other
Europe
Total
Europe
Canada
Latin
America
Far
last
All
other
232,687
231.903
237.356
35.7SU
33,741*
1,980,61*7
Sg6
32.376
2.003,932
217,161*
34,672
1 ,878,31*2
220,251
225,656
231.966
35.31*9
"3.689
1.869
1.879.765
1.900,563
Grand
total
TOTAL SHORT-TEW
FOHCIOS LIABILITIES:
Dec.
7
Dec. lU
Dec.
Dec. 28
a
TOTAL LIABILITIES
RATABLE IB DOLLARS
Dec. 7
Dec. ll»
Dec. 21
Dec. 28
U13.850
400.704
U23, 2U0
187.669
16,861*
186,1*98
187,01*9
1*38,805
190,899
17.575
19.333
19.883
338,211
325,886
345.342
357.633
183,21*0
299.29!*
313.07"*
176,116
21U.836
215.917
220.082
217.353
238.396
1.186,777
263.531*
21*1.257
21*9,908
1,171*. 269
1.209.990
1.237.802
21*3, 18l»
237,226
261,997
239.967
1,102.196
1,091,075
1.123.997
269,278
267.852
21*1.135
255.032
256,962
255.72?
97.097
214,627
215.696
219.796
217.099
21*8,285
1,11*8,936
233.193
251*. 521*
199.992
222, 5UI
33.360
189,511*
33.661*
201.099
198,561
237.595
236.353
235.826
233,980
187.032
227,089
225,082
232.990
1,021,381
1,035,836
1,062,695
1,090.838
263,801*
199.1*09
197.276
200,995
31.5"
13. 508
14,728
12.776
13.221
39.1*97
16,1*52
16,1*00
13.321*
1*6,916
5.298
3.577
?• PCI
5.
5.356
13.592
i»5!6
2
2,91*5
17,181
18,360
19.173
20,275
27.979
29.675
27.307
29.872
1.203
1.575
1.626
1.776
19.580
19.706
22,572
22.57U
95.562
90.335
19,021
19.203
22,138
22,326
93.1*95
96.1*57
98,380
270.771
269,272
235.196
255.1*39
255.331
256.173
251*. 872
3'*.988
1.980.662
1.966.559
I
Deposits for
foreign account!
Dec. 7
Dec. ll*
Dec. 21
Dec. 28
182,032
182,517
187,156
16,376
16,982
18,769
19.31*0
89.279
95.1*68
16,115
16.33 s*
18,01*0
18,089
89.283
8U.977
18.1*85
2i, ia
91,271*
181,690
19.090
21,1*20
92,266
7.213
8,689
l.!*95
197
211
8,5U1*
2,01*8
2,111*
787
893
825
761
3.521
3.609
3.50U
4.131
176,861*
177. OSU
328.550
3UI*, 8Ul
263.693
235.766
229.906
33.2H8
31,91*1*
30.053
1.743.172
1,759.060
1.763.072
1.785.772
Bills held for
foreign account:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
1,892
S.224
a7
190
1*3.21*3
91.158
96.1*30
98.376
100,280
Short-term United States
Government obligations
held for foreign
account:
12
12
l.!*09
.1*27
1,1*1*2
1*09
1*27
1*1*2
12
12
9
S
27
1*2
21
36
31.692
>*.220
61*
It.lll
2.867
3.376
U37
Dec. 7
Dec. ll*
Dec. 21
Dec. 28
Other liabilities
payable In dollars:
Dec.
7
Dec. ll*
Dec. 21
Dec. 28
TOTAL LIABILITIES RATABLE
IB TORIIOB CURRENCIES:
Dec. 7
Dec. lU
Dec. 21
Dec. 28
8,236
U.556
I
]
190
217
188
691
693
690
700
1.127
1.559
209
221
286
2,21*5
1.907
1.685
1.559
1.702
39.891
11.569
16.361
12,665
176
21*1
582
15
231*
1.170
1.537
1.290
1.623
84,581
1.1*93
1.1*20
1*07
85.993
88,866
2,01*9
1*1*1*
2,003
31*6
1.081
965
1.566
1.566
3>*5
3.3 1*1*
67
60
U.1*U9
1*88
559
4,466
4,532
593
56U
503
U3I*
3.7"*3
5>»3
2U8
2.067
I.O56
989
1.283
1*4,65!*
101
1*81
1*12
191*
51
669
1*6,562
!*3.297
HI
5«7
557
538
31*3
138
65
291
50
1,001*
136
77
782
1,120
1*5.530
1*7,960
50,051*
75.639
75.818
77.898
81,172
I
11*5
2,15s
251*
S3.19"*
3>*2
369
2.153
1.062
1.073
1.099
109
110
111
i*2,570
"5
14.1'75
15.523
11.652
11,700
11.720
316
635
U96
102,320
97.070
100,682
103.369
1*32
13.557
18.275
Borrowings from
foreign banks:
Dec.
7
Dec. ll*
Dec. 21
Dec. 28
15,8"*
L 7.8;0
279
U5
U .U°
297
98
359
377
272
1U.850
11,003
11.027
11,112
85
221*
197
111*
62.923
58.081
61.125
63,118
Acceptances made
by foreign banks:
Dec. 7
Dec. lU
Dec. 21
Dec. 28
2i.
26.133
26,310
27.704
M02
1*.870
238
253
259
236
32,008
1.683
725
758
825
3.991*
3.1*07
31,061*
31.159
32.030
32.361*
316
370
362
362
31.653
Other liabilities payable
in foreign currencies:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
5.38?
5.71*1*
5.638
108
121*
101
120
190
193
166
167
131
137
123
1U8
1*9?
6,011
6,600
U76
6,871*
96
85
123
1*68
6.782
75
1*67
635
632
650
578
229
209
297
316
7.033
7.536
8,011
7.827
38
Short-Term Foreign Assets as Reported by Banks and Bankers
in the United States for December 1938
(In thousands of dollars)
Classification
and date
United
Kingdom
Trance
Oerm any
Italy
Netherlands
Svl tier-
land
Other
Europe
Total
Europe
Canada
Latin
America
Tar
East
All
other
Orand
total
TOTAL SHORT-TEEM
TORSION ASSETS:
Dec.
7
Dec. 14
Dec. 21
Dec. 28
87,668
2U.666
18. 315
1U.521
13.256
1*5.1*09
2.1*09
88.105
96.607
81. 569
92.970
92.71*0
90,988
90,905
188
13.710
13,368
13.28U
lit,
27.263
5.9**7
27,11*6
5.7^
26,200
25.517
It,
822
5,1*28
•7.655
17.277
•7.075
16.730
300,79"*
282,788
79,228
80,372
63.65U
65,700
6,029
5.63 s*
5.690
68,11*1
18. 176
71.369
65.UOS
63,808
19.711
16,768
301.535
278. 513
li*,qi»g
650.572
15.376
15.525
15.717
66l. 3U9
99.211
156,021
163,907
163,806
162,626
60,769
62,040
62,502
59.553
1,450
1,601
1,031
1,056
151.739
163,961
152,331
13,1*01*
6.253
6,240
6.622
7.223
1.250
1.550
21*9
57.389
351
65.1*07
1,1*02
212
201
52.393
99.578
99.659
100,11*5
622,033
626,012
TOTAL ASSETS PAYABLE
IN TOREIOK CURRENCIES:
Dec.
7
Dec. lU
Dec 21
Dec. 28
.
Banks own deposits
abroad:
Dec.
7
Dec. ll
Dec. 21
Dee. 28
Deposits abroad for
account of domestic
clients:
Dec.
7
Dec. ll
Dee. 21
Dec. 28
Other assets payable
In foreign currencies
Dec.
7
Dec. ll
Dee 21
Dec. 28
2,087
2.319
2.271
2,1*96
2.012
1.536
26,157
31.969
24,111
24,305
1.988
2.088
1.62U
l.lbl
1+62
908
186
192
139
102
1.543
4.727
1*.522
173
156
152
i*,l*09
15U
121
109
142
137
2.107
2.0U5
2.035
1U.709
15.393
21*3
16.53"=
.
682
801
9>*3
52.089
1*5,218
1*5,019
16,305
252
236
221
l,l56
599
710
99
93
91
2. u 35
2.361*
13
J
136
"5
135
13U
8.150
8,227
6,977
5.959
2.775
2,249
2.920
i*,9i*3
6.302
3.326
3.132
3.021
2.317
1*0,991
i*,266
2.570
2,282
2.041
2.165
16,672
36.758
35.221
13.391
15.517
12.637
11,262
1,50s
1.317
1,381
1.311
205
227
226
190
101
10U
10U
6U5
1.143
1.129
1.118
1.121
8,65s
S.559
8,309
8,691
2.309
1,610
1,190
1,^27
172
175
170
19.290
10,285
19.303
19.317
1,61*3
101
101
1,560
1.573
1.551
1.505
18,1*92
19.138
20,341
19.893
2.176
2.587
2.611
2,615
1.573
1.759
5,063
5.709
10,229
11,205
11.797
8.866
1.161
1.209
793
827
36.931
38,898
40. 635
37.910
1*1.626
232.653
227.166
213.135
218,980
61,052
60,658
16,886
17.296
93.325
93.419
93.823
91.983
95.255
101.867
101,361
103.073
13,198
14,275
14,494
11,661
195.733
197.335
169,702
175.99s
76.270
72.063
60,867
66.333
26,150
21,977
10.192
11,122
12,865
11,053
13.797
905
12,31*1*
68.358
71.710
73.159
73.815
181,518
181,292
159.514
165,521
10,1*1*0
89.513
89.693
88,635
88,1*73
11.015
13,513
13.951
13,605
2.582
2,404
2,156
2,706
3.278
3. 511
3.614
1,021
115,803
115.273
111*, U3U
10,321*
6,355
6,119
6,075
5.886
2U.170
21.169
66,810
=3,633
21. 520
64,12*1
28,517
29.532
30,019
29,988
66,415
21*, 221*
21.315
27.753
26,049
26,552
9,315
9.277
9.381
9,080
195.132
197.820
195.751
195. 7S3
6,1*10
5,112
1.590
1.639
1.503
2.1*87
101*
110
161+
1.370
150,"/11
52,1*01
60.I69
59.659
59.303
59.733
TOTAL ASSETS RATABLE
IH DOLLARS:
Dec.
7
Dec. lU
Dec. 21
Dec. 2S
1*2.696
1*1*.
518
36.351
U2,6i*9
22.257
15.819
12.509
11,720
92,288
91.939
11,501
11,275
90,01*5
39.71*5
11,01*9
11,013
15.195
9.360
6.273
5.682
7.899
8.083
7.883
7.88U
1.208
1,215
1.333
2,858
2,761
2,615
60,066
19.U3
18,919
19,223
19.558
3.172
3.253
2.573
2,508
Ul, 1*1*3
1*1,385
1*1.787
Loans to foreign banks:
Dec.
7
Dec. ll
Dec. 21
Dee. 28
30,1*27
32.523
25,271*
31.117
1,1*89
12.977
13.125
13.131
13.103
353
8U6
350
3.880
3,856
1,1*63
7.130
6,918
6,721
6.91*3
l.Ugl*
1,1*99
1.557
Acceptances made
for foreign banks:
2.712
2.732
2.76U
2,851
Dec.
7
Dec. lit
Dec. 21
Dee. 28
2,1*85
60,1*51
59.276
59.217
8,238
8,172
7.935
7.805
1»,138
1.3H
1.365
1.I67
1.II7
10,326
10,356
111,691*
Cther assets peyable
In dollars:
Dec.
7
Dec. ll
Dec. 21
Dec 28
.
i
,
9.557
9.263
8,113
8, §81
3,901*
3.698
3,621
3,553
21,323
23,105
22,886
22,6l1
1.77"*
1.895
1.879
1.875
2,256
1.938
1.95"*
2.11*1
1,5*2
756
71*0
65,1110
65. 848
66,072
66,039
39
Security Transactions as Reported by Banks, Bankers, Brokers
and Dealers in the United States, for December 1938
(In thousands of dollars)
Classification and
weak ended
United
Kingdom
Hetherlandi
Svltierland
France
Germany
Italy
2.83U
1.72U
5.059
U6
3,062
267
2.5*5
2.&55
1,61*7
1-7
57
116
1*.052
15
11
2,282
2,170
3,656
2.575
it.270
3.0U7
176
15
105
263
285
396
328
1.791
10.33*
1.796
Other
Europe
Total
Europe
Canada
Latin
America
Tar
last
Orand
total
All
other
TOTAL PURCHASES
IS THE UNITED STATES
TOE EOREION ACCOUNT:
Dec.
7
Dec. lU
Dec.
Dec. 28
H
6.568
6,808
9.762
6.235
1*6
2.903
U.136
3.270
6,025
it, 897
2.003
1,011*
1.81*6
1.122
21,191*
15,581*
26.853
16.967
5.071
U.lUo
8.059
3.596
1.293
3.070
6BU
U98
988
U8S
1,11*2
1.399
757
230
219
29.585
22.130
Ul2
269
38,1*1*9
788
1.611
708
200
115
172
217
20.751
17.972
715
257
10k
U5
2l*0
180
52
919
767
86U
370
206
90
208
1.797
I.0U5
1,726
8S8
22,1*77
Purchases of
domestic securities:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
6.026
6.118
8.936
5.682
2.588
1.585
850
1.280
91
12
It,
1.338
U67
1.U02
707
15.715
13.078
2k. 337
690
652
578
627
665
5.>*79
1*1*
2.506
2,516
2,423
3,090
1,060
525
818
3,1*1*6
2,618
5.W7
1U.5U1*
3.1*93
5.838
2.952
1,082
32,91*6
18,909
Purchases of
foreign securities:
Dec.
7
Dec. lU
Dec. 21
Dec . 28
5H2
690
826
553
2U6
139
209
367
26
17
13
28
6.256
5.790
7.155
3.731
2.225
1.00U
5.056
1.556
10U
109
77
68
5.566
5.280
6.398
3.03^
2,078
690
510
757
697
H*7
1*15
2,001
6U7
2,221
61*1*
411
269
8,831*
158
5.503
3,168
It.
TOTAL SALES
IN TEE UNITES STATES
EOR »OREIOB ACCOUNT:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
Sales of
domestic securities:
Dec. 7
Dec. l>t
Dec. 21
Dec. 28
Sales of
foreign securities:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
3.i»97
1,69s
10.139
1,682
861
1*,893
1,1+19
3.i»50
93
195
Ilk
*7
163
137
3.200
1,738
3U
1U.591
22,268
18,151
10,911
12.832
20,870
2:5?
Hi 2
3.751
3.758
it. 581
2.977
286
382
771
338
2,588
3.988
2,712
1,220
817
756
252
16,51*7
502
2l*3
1*1*5
83
62
1.759
1.398
1.60k
1.279
587
1*88
518
59
1.1*67
216
1*67
988
1.861
1*1*2
9,f*l*l*
86l
5.053
3.193
21,125
27.933
61
87U
758
86U
188
351
57
k5
17,866
25.852
22.951
13.167
3.259
2,081
2,186
1.780
9
1*72
19
TOTAL PURCHASES
EXECUTED ABROAD TOR
DOMESTIC ACCOUNT:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
380
820
556
180
878
603
293
51*
1,510
2,7l*l
2.3"*"*
2,91*7
2.891
3.192
Purchaees of
domestic securities:
209
121
Dec.
7
Dec. Ik
Dec. 21
Dec . 28
81*
131
108
U9
13k
59
Purchases of
foreign securities:
Dec.
7
Dec. ll*
Dec. 21
Dec. 28
3U6
292
W
791*
5k
900
1,816
US
U6S
2.
1*1
2,881
1,301
2,610
2.813
3.133
TOTAL SALES
EXECUTED ABROAD
FOR DOMESTIC ACCOUNT:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
Sales of
domestic securities
Dec.
7
Dec. lU
Dec. 21
Dec. 28
Sales of
foreign securities:
Dec.
7
Dec. lU
Dec. 21
Dec. 28
122
12U
215
188
3.210
551
812
226
ll*
382
3.395
1,126
1.107
578
803
1.292
2,301
1.823
130
6
1*
lU
13
99
k.332
2.1*32
3.1*21
2.506
2.253
t73
2.337
1*2U
1*61
U63
38
61
61
2.253
382
78
957
i*73
388
138
32
25
35
130
122
12*
215
188
lU
1,11*2
653
61*6
517
1*8U
719
1,281
2.299
1,823
130
1.995
1,01*8
2. 95S
6
2.1A5
40
Security Transactions in Joint Foreign Arbitrage Accounts as Reported
by Brokers and Dealers in the United States, for December 1938
(la thousands of dollars)
Classification and
week ended
United
Kl ngdom
TOTAL PURCHASES
IS THE UNITED STATES:
Dec.
7
,
Dec. 14
Dec. 21
Dec. 28
Germany
Italy
2,781*
1.239
,
3.c6
2.932
Purchases of
domestic securities:
Dec. 7
Dee. lit
Dec. 21
Dec. 28
France
,
Purchases of
foreign securities:
Dec. 7
Dec. lU
Dec. 21
Dec. 28
2,488
923
2.537
2.027
Netherlands
Dec. 21
Dec. 28
Sales of
domestic securities:
Dec. 7
Dec. 14
Dec. 21
Dec . 28
,
Sales of
foreign securities:
Dee.
7
Dec. 14
Dec. 21
Dec. 28
Total
iurope
557
3bl
389
532
143
iff
138
198
3.526
1.834
5 4l
143
169
138
182
3.172
1.427
3.109
3.335
384
526
3.57>»
3,664
Latin
America
Canada
All
other
Tar
last
It
11
Qrsnd
total
4,625
1,094
950
1.165
772
s.75
"».7!
4.437
3.235
1,461
3.198
3.373
1.390
1,031
296
316
439
305
TOTAL SALES
IN THE UNITED STATES:
Dec.
7
Dec. 14
Switzer- Other
land
Europe
407
4b5
329
916
1.33'+
1,076
1.556
1,064
2.373
3.43b
4,663
569
697
1.073
855
ob6
1.672
2,405
3,847
390
17
10
26
094
701
,02b
805
173
.on
680
1,063
16
2,025
3.128
4,093
519
333
269
461
3*
107
lb
1.331
2,102
3,288
32b
264
455
33
104
16
341
2
15
39
15
39
816
179
73>»
3,070
"t.509
5.523
1.235
1.689
2,145
3.873
398
8
1.381
2.094
1,645
837
829
658
Foreign Balances in Brokerage Accounts as Reported by Brokers
and Dealers in the United States, for December 1938
(In thousands of dollars)
Classification and
date
United
Kingdom
France
Germany
Italy
8,894
8,288
9.091
9.283
6,819
6,365
6,887
6,762
195
161
9?
169
7,211
6,4?6
6,716
6.503
15,444
5.29s
5.098
5.332
239
211
207
217
Netherland
Switzerland
Other
Europe
Total
Europe
Canada
Latin
America
Far
East
All
other
Grand
total
Foreign debit Balances:
(due from abroad)
Dee.
7
Dec. 14
Dec. 21
Dec. 28
66
2.610
2.659
3.072
3.292
4.945
5.039
5.388
5.285
26,410
93
2,881
2,945
3.339
3.505
28,072
28,389
20,113
19.766
21,247
21,093
122
120
122
114
4,387
3.993
4,270
3.970
6,992
7,281
2.903
2,946
3.159
2,868
27,298
26.335
?7.143
25,911
3,844
3.920
3.U15
4.5U2
88
25.5"*9
M13
7.3><9
5,118
4.457
4.676
7.532
8,241
8.185
1.U67
807
1.466
1.755
784
854
712
412
U33
59.197
58.398
389
485
02, 406
352
312
346
312
33.758
32.91?
33.224
33.232
02,828
Foreign credit balancet
(due to abroad)
Doe.
7
Dee. 14
Dec. 21
Dee. 28
7,581
6,907
41
Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported
by Banks and Bankers In the United States, for December 1938
(In thousands of dollar*
Currency of-
Classification,
veelc ended,
and delivery
Dnlted
Kingdom
TOTAL PURCHASES:
Dee.
7 Spot....
Dec.
7 Forward.
122.097
51.623
U.131
1.712
51*2
65
1.289
198
2.633
1.179
1,812
801
Dec. 14 Spot
Dec. Ik Forward.
104.161
52.982
1,826
622
1*79
l.ltOU
2,71*8
l.>»73
32
212
999
Dec. 21 Spot....
Dec. 21 Forward.
97.365
58U
''5.959
1,887
U91
30
1.356
77
1.95 *
1.166
Dec. 28 Spot..
Dec 28 Forward.
54,210
22,424
1.391
527
50U
776
100,752
39.893
3.530
1.6U3
509
65
Dec. Ik Spot....
Dec. 14 Forward.
87.120
35.608
1,669
375
1*20
21 Spot....
80,896
30.514
"U.513
France
Germany
Netherlands
Italy
Swl tier-
land
Other
Europe
Total
Europe
Canada
Latin
America
Far
East
All
other
Grand
total
135.929
57.565
25.579
8,813
612
109
3.463
2.673
491
1,987
1
69.161
115.452
56,929
28,308
230
3.361
1.852
321
14
3.517
1,187
685
6
148,283
6h,2oO
2.353
607
3.273
1,086
108,772
U9.U16
26,5")0
316
20
1,423
1.893
432
137.«93
56.637
1.374
982
1,946
1,540
387
61.741
24,703
19.129
2.513
302
802
1,831
397
383
82,371
29.103
.120
187
2,526
508
1,790
3.232
U3. "*59
1*4.357
2.585
1.209
242
1.351*
15.131
7.214
322
707
131.739
52.780
.162
211
2,1*56
l.>*33
185
97,401
38.291
18,119
5.510
.303
919
3"
242
3,141
1,638
222
32
117.356
44,720
1,686
290
541
.116
1,71*0
859
91,223
33,065
15,866
3,418
710
974
235
59
2.321
519
23
30
108,267
37.463
l.jUl
US6
1*66
682
1,025
805
1,926
383
1,382
380
US. 135
12,084
1,624
257
323
540
128
60,927
19.905
601
69
33
107
671
193
633
22,1*70
290
109
249
13,208
10,448
1.599
878
11.730
1,1*64
1
Dec. lU Spot
Dec. 14 Forward...
17.041
157
99
21*7
292
757
220
214
18,051
18,638
10,189
2,614
99
14
2.214
268
37>*
17.371*
Dec . 21 Spot
Dec. 21 Forward...
16,1*69
201
201
"3
a't
307
350
292
17.549
16.351
10,684
1.890
83
14
713
919
197
29,226
19.17"
Deo. 28 Spot....
Dec. 28 Forward.
12.697
6,740
250
38
31.9
158
t5
1*79
269
7
13,606
6,965
7.045
177
1,341
3
21,444
9.198
Spot
7 Forward..
115.991
55.318
3.196
Dec. 14 Spot
Dec. lU Forward..
99.891
57.804
2, 006
Dec. 21 Spot
Dec. 21 Forward..
020
II: 929
l
Dec. 28 Spot
Dec. 23 Forward..
5J.983
26.312
Sales to banks:
Dec.
7 Spot....
Dec.
7 Forward.
102,166
3>*.973
Dec. 14 Spot....
Dec. Ik Forward.
.
Purchases from banke:
Dec.
7 Spot
Dec.
7 Forward....
Dec,
Dec.
Forward.
21
Dec. 23 Spot....
Dec. ?S Forward.
Purchases from customers other than banks:
Dec.
7 Spot
Dec.
7 Forward....
TOTAL SALES
Dec.
Dee.
15,6*
21.3115
15,1*1*5
1
169
11
242
1
21*0
18
9"
1*1
3. ''25
17.738
8,121*
5. 308
i
889
6
3
6
166,071*
31*. 335
16,381
30,927
21,540
I
7
763
2,1*02
I.U91
2,018
1,700
1,1*91
1*99
3.686
1.517
128,845
61.258
22,620
8,268
679
31
8S0
788
1.75 *
221
4.31c
1.134
U1.759
26.514
11,281
340
61.485
2.303
2.383
360
141
141,276
75.290
9'*
155.284
72.654
2.859
3.034
600
32
1,348
1
3
1
W
usu
1,112
55
1,>*57
1.601
848
2.732
1,212
101,301
53.883
25.157
6,808
309
1.679
1.942
292
1.285
128.738
62.633
1,1*83
391
10
51*
2.16U
983
2.296
330
1.635
60,496
28,812
16,255
1U9
233
1,650
1.344
164
78.714
34,60s
2.391
1.3?7
336
665
1,219
1,23U
1.362
391
2,310
931*
110,449
38,839
16,037
7,162
123
30
1.346
2.898
82,209
42,864
1.344
422
305
32
561
1.283
942
201
3,114
1,101
89.758
45,960
16.573
9.203
78
1,31*0
1.026
2,359
Dec. 21 Spot
Dec. 21 Forward.
78.732
36.715
1,088
kzk
308
610
54
1,004
1,026
325
1,81b
1.180
84,584
39.698
17.537
5.132
42
503
1.533
66
102,732
46,363
Dec. 28 Spot....
Dec. 28 Forward.
1(2.292
91*5
395
10
1.501
621
22.352
10,424
2,545
57
100
422
1,112
39
320
1,132
U78
1*8,600
5>*8
308
10
2,027
20,365
59.542
26.409
13.825
20. 3^5
805
1.075
1*27
826
799
257
338
108
1.376
583
18,396
22,369
6.583
1,106
5*6
9U
1.513
136
271
27.319
23.705
Dec. Ik Spot....
Dec. lU Forward.
17.682
662
295
22,001
15.525
9,941
2.078
l.?77
24
313
3
812
20
262
81
567
1*8
1.196
lU.9'40
33.824
17.627
Dec. 21 Spot....
Dec. 21 Forward.
13,288
13.214
807
70
176
502
453
7.620
1.676
1.176
409
226
32
16.717
14,185
267
3>*5
575
523
916
1
26,006
16,270
Dec. 28 Spot....
Dec. 28 Forward.
9.691
538
78
83
1U9
6b3
362
269
10
503
63
11,896
6,460
5,831
1,374
92
133
1,228
232
125
19.172
8,199
Sales to customers
other than banks:
Dec.
7 Spot....
Dec.
7 Forward.
5.9>*7
503
626
10
1
787
91*0
1
55
33
1»,219
127.965
43,949
17
141
107,452
57.663
42
Outstanding Forward Exchange Contracts as Reported by Banks
and Bankers in the United States during December 1938
(In thousands of dollars)
Currency of-
Classification
and date
United
Kingdom
Trance
Germany
Italy
1"*2
1*62
80
7*
3"
>*37
371,688
350.509
11.059
10.825
10,394
10,119
112,321*
5.239
117.277
117. 744
108,050
5.3>*6
5.256
112
52
58
5.1W
18
Netherlands
SwitzerOth',r
land
Turope
Total
E^ope
Canada
Latin
America
Tar
last
All
other
Or and
total
TOTAL PURCHASE CONTRACTS:
Dec.
7
Dec. Ik
Dec. 21
Dec. 28
3<*.3>»3
368.31.3
1
H33
1*00
9.S7U
9.936
10,672
9.818
15,1*1*9
l*0l*,35U
2.889
3.129
2.980
16.593
16,837
15.383
409,103
637
2,081
2,069
2.087
2,087
llt.186
389,2U3
75.298
75.^79
73.925
68.186
4.211
5.29 1*
5.198
4.814
124.379
130,235
130,989
120,899
9.858
10,209
10,132
8.989
932
11,238
11.299
11.639
IO.569
279.975
278,868
282,238
65,l*UO
1.11*9
268,31*1*
65.270
63.793
59.197
1,160
1.172
1,172
1*1*9,251
81,102
lt.362
U5&.350
W*3.379
85. 569
5.67"*
19.775
20,150
20,122
1*18,961
76,itol*
"*.339
"».305
"•.538
12,501*
165,289
175.672
165,318
150,786
31,861*
i*,o66
35.925
It,
34,1*03
>*,009
1*,108
ll*,l*91
283.962
278,67s
278,061
268,175
1*9,238
us, 260
296
297
296
44.552
1*30
6,171
6.057
6,117
5,887
1*13,227
651
600
195
203
1*96,570
2.935
2.659
5.71 1*
3,126
lU
13S.11S
lU*,012
11,251
11.625
8,952
11,738
637
600
195
203
35S. 1*52
19.381
20,223
20,608
18,138
587
739
202
201
55"*.683
13.210
14,166
537
690
15U
150
21 It, 966
230,1*95
]l*,2gl*
14,666
ll*,s61*
501.535
504,100
1*71*,
583
Contracts for purchases
from foreign customers:
Dec.
7
Dec. 14
Dec. 21
Dec. 28
Contraots for purchases
from domestic customers:
Dec. 7
Dec. 1>*
Dec. 21
Dec. 28
5.820
I.31
8,01*9
2,388
5."»79
1*30
5.138
4,973
391*
8,118
8,806
7.788
?,
1*27
665
652
650
6ll
18,630
18.36U
17.713
16,213
6.258
5.958
5.993
18,1*58
133
133
131
131
10.375
10,010
3.771
3.W*3
3.397
3.6U0
13,388
13.3H9
11,855
532
519
8.255
8.35 1*
8,809
8.395
394,270
385. 13 *
3614,091
1
,
861
835
253,91*1*
388, 423
Dec. 21
Dec. 28
1*1*1
252,019
251,066
21*2.1*59
TOTAL SALE CONTRACTS:
Dec. 7
Dec. Ik
1.825
1,818
1,866
2.030
15.307
14.775
13.932
13.511
193
181
15U
W
2,268
2.11*5
82.669
90°
915
915
l'*7.75C
133.929
357.523
356.350
31*0,651*
565,220
551. 163
518.2U2
Contracts for sale
to foreign customers:
Dec. 7
Dec. 14
Dec. 21
Dec. 28
131,027
141,387
132,668
120,1*52
7.350
7.207
6.765
6,856
104
104
3"»
8,901*
7.818
31.852
0U2
12,251
218.375
199,11*7
Contracts for sale
to domestic customers:
Dec. 7
Dec. 14
Dec. 21
Dec. 28
,
,
257.396
252,883
252,1*66
21*3.639
7.957
7.568
7.167
6.655
2,1*87
7.271
2.515
2.277
2.353
6.762
6.773
6,603
1*9.61*1*
Net Position in Foreign Currencies of Reporting Banks and Bankers
in the United States for December 1938
(Minus indicates short position:
Classification
and data
In thousands of dollars)
339.717
334.7?5
332.788
319.C95
OTHER
MONETARY
-43-
STATISTICS
44
Balance Sheet of the Exchange Stabilization Fund
June 30, 1938
December 31, 1938
ASSETS:
Cash:
Cash:
Treasurer of the D. S., Soil..
Treasurer of the U. S.,
Checking Account
Federal Reserve Bank of
Hew lork Special Account
Disbursing Officers' Balances
4 Advance Accounts
Accounts Receivable;
Due from Trench
Cable Company
$1,902,1*21,308.32
Treasurer of the 0. S., Oold.
Treasurer of the U. S.,
Chacking Aoct
Fed. Res. Bk of Hew Tork
Speoial Aoct
Disbursing Officers' Balances
* Advance Accounts
5.OO7.3U
Accounts Receivable:
Due from French Cable Company
Due from Treasurer, U. S
$1,800,000,000.00
1,61*3, 3U9.25
100, 765,630. 03
11,829.01*
.
Speoial Accounts of Sec '7 of
Treasury - Fed. Res. Bk.
Speoial Accounts of Sec'y of
Treasury - Fed, Bee. Bk.
of N. I.J
Speoial Account No. 1 (Sold)
1,21*8,862.370 ozs.»
Special Accounts Nos. 3 A U
(Sterling and francs)
of H. T.I
Foreign Exchange due from
Foreign Banks Secured Deposits:
Central Bank of China
165.000,000.00 luan
Oold of Foreign Banks held
with Fed. Res. Bk.
of H. T. as collateral
on Exchange Deposits!
Oold of Central Bank
of China 1,395,381.168 o»
1*3,701,226.28
Accrued Interest
Receivable ••
U8.838.3U0.89
15.107,637.53
Accrued Interest Receivable ••
605.78
2,651.00
Liability for Oold of Foreign
Banks held as collateral:
Oold of Central Bank of China
See Schedule
1
5,026,562.50
U2.U89.6U
Other Accounts Deferred Charges
9 , 302.02
Commodity Sales Contracts
2,651.00
2,062,232, U3I.03
Total Assets
Capital Account
Accounts Payable:
Touchers payable
Balance due Bank of *nc"i«n* Oold Purchase
2,000,000,000.00
•
8,
250.97
756.526.76
Deferred Credit - net
l8U.OlU.55
1*8,838,31*0.89
Liability for Oold of Foreign
Banks held as collateral:
Soli of Central Bank of Chins
no.235.737.U5
310.250.56
10.51*5,988.01
•• See Schedule 2
••• See Schedule 3
80.U10.86U.90
Investments O. S. Treasury Bonds"
2,000,000,000.00
Commodity Sales Contracts
*
(Oold)
LIABILITIES AND CAPITAL:
Due to Central Bank of China
Total Liabilities
and Capital
5.007*3^
2,979.22
1*8,838,31*0.89
2,058, 7l6,Ol»5. 65
Capital Account
General Expenses - deduct ***.
$1,879,237,163.25
U8, 657. 070. 27
LIABILITIES AND CAPITAL:
Earnings ••
Deferred Credits - add.
16,663.96
Oold of Foreign Banks held
with Federal Reserve Bank of
Hew Tork as collateral on
Exchange Deposits:
Oold of Central Bank of
China 1.395,381,168 ose
2,651.00
Total Assets
77. 599. 972. SU
1*8,1*87,500.00
52,0>*2.78
Commodity Sales Contracts
1
1.620.526.U5
Foreign Exchange Due from
Foreign Banks Secured Deposits:
Central Bank of China
165.577,037.2U Tuen
lOO.33i.5i
Investments D. S. Treasury Bonds ••
Speoial Account Ho.
2.303.965.650 oie.*
$1,800,000,000.00
67i.5Uo.O3
9,87U,1*U7.98
2,058,716,01*5.65
Earnings ••
Oeneral Expenses - deduct •••
Total Liabilities
and Capital
U8.838.3U0.89
13, 229.951.08
784,653.22
12.UU5.297.86
$2.062,232,U31.03
45
Schedules for Balance Sheet of the Exchange Stabilization Fund
June 30, 1938
Schedule #1
Special Account #1 - Gold
Schedule showing location of Gold held by and for account
of the Exchange Stabllllatlon fund.
\
46
Gold Assets and Liabilities of the Treasury
(In millions of dollars -
End of
calendar year
or month
or.
basis of dally Treasury statements unrevised)
LD
<
o
48
Components of Silver Monetary Stock
(In mllllone of dollars - on basis of revised dally Treasury statements)
Bud of
calendar
year or
aontb
49
Net Movement of Silver to and from the United Statee
(In thousands of dollars)
Tear
and
month
Net Imports from or net exports (-) to:
United
Kingdom
Other
Europe
!93>t
36.521
1935
1936
1937
1938
2"*5.133
Cuba
438
190
2.U57
856
-25
15.396 2/
53.393
34,120
134,264
12.W7
5.416
6.798
10.915
Peru
Chile
21.995
58.325
29.925
30.203
41.715
-3.780
-5.611
-8.951
-7.451
-4,342
1.550
2.920
1,048
968
696
1938-Feb..
Mar..
9.180
9.053
5
8
518
1.054
>t.529
7
3.042
1
Apr..
Hay..
June.
9,348
10,010
16
2.158
20
2,162
1.470
436
2.740
2.710
3.098
13
86
2/
874
988
57
809
2,918
2, 600
1.956
6
U.300 37
46
4,310 if
-244
-1.250
73
30
663
708
742
2.767
2.635
1,876
-993
-695
-1,200
46
485
372
2.737
2.635
-1,243
-1.093
45
13. 813
July.
Aug..
Sept.
.305
8.957
5
15.301
Oct..
Not..
10.169
15.778
17.075
Dec.
1939-Jan..
31
20
5.105
4,083
Feb..
Tear
and
month
-4
Other Latin
America
381
3.906
10.199
7,408
6,786
7.381
41
1/
11
38
-1.228
2.738
611
2,858
582
495
129
560
667
680
290
519
608
978
194
181
173
498
631
708
312
277
239
739
491
219
236
240
386
249
Net imports from or net exports (-) toi
British
India
-338
188
3,024
193 *
1935
1936
1937
1938
1
Hong
Kong
China
21,967
227
69,996
5.614
150
Other
Asia
Japan
2.873
6.787
3.W3
4
61
1938-Feb..
Mar..
303
843
2,144
1,271
2.930
Total net
imports or
exports (-)
All
other
131*
118
48
*33
617
86.17U
335.730
170,851
79.835
223,449
3>»
3,224
342
504
10,808 4/
206
289
11
11
58
2
15.255
14,250
321
116
3t3
4
11
18
44
63
84
15.507
17.636
18,931
126
117
149
69
121
166
108
130
Dec.
171
305
413
10,065
7f
204
1939-Jan.
Feb..
270
630
146
432
Apr..
May..
June.
"5
July.
Aug..
Sept.
2
Oct..
Nov..
5U
Less than $500.
1/
Includes net Import of $12,950,000 from Prance.
2/
Figures for July, Sept. and Nov. 1938 include net imports from France of $4, 301,000,
3/
M/
Includes net import of $9,791,000 from Siam.
Source:
Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.
Seigniorage on Silver Since January
1,
y
19
4)584
22,635
70
2J5.S13
s
2U.163
20,189
134
8
3.658
7.87 *
1
4,300,000 and $U.301,000 respectively.
1934
(In millions of dollars - on basis of dally Treasury statements)
Cumulative from
Jan. 1, 1931*
to end of Calendar year or month
Seigniorage
on coinage (lncl.
eilver and
minor coins)
"•5
193>t
18.
1935
1936
1937
46.1
63.7
Souroes of Seigniorage on Silver Bullion Revalued 1/
Misc. silver
(incl. silver
bullion held
June IU.I93U
48.7
48.7
48.7
48.7
Newly-mined
silver (Proc.
Dec. 21,1933)
.4
Silver Purchase Act
of June 19,
193*
Nationalized
eilver
(Proc. of
Aug. 9. 193*0
16.8
36.O
58.0
51.1
226.2
302.7
366.7
28.5
3".5
60.9
62.1
386.1
392.2
3U.7
3".7
586.9
604.5
3U.7
620.3
637.6
652.2
3>».7
65.6
66.5
Apr..
May..
June.
66.8
67.2
67.3
48.
63.4
65.O
66.3
398.5
405.1
411.4
July.
Aug..
Sept.
67.4
67.5
68.0
48.7
48.7
48.7
67.8
69.4
70.1
416.0
420.4
U25.7
3>».7
3>».7
Oct..
Nov..
68.5
68.9
69.5
48.7
48.7
48.7
71.6
73.8
74.9
432.6
443.0
U57.7
JM
Dec.
1939-Jan..
Feb..
69.9
70.2
48.7
48.7
76.0
77.U
468.0
3>*.7
>»73.1
3U.7
1/
Ug
48,
Ug
4g
137.5
276.7
398.4
3U.7
1938-Teb
Max..
.
Potential
Total
seigniorage on
Seigniorage
silver
bullion
on eilver
at cost In
revalued
General Fund
3>».7
3"
3"*.7
3>t.7
3>».7
These Items represent the difference between the cost value and the monetary ralue of silver bullion revalued end
held to secure silver certificates.
668.4
678.5
693.U
710.0
737.0
773.9
790.0
809.8
50
Value of Selected Currencies in Terms of Gold
1928
United
States
=
100
51
Ratios of Index of Wholesale Prices
In 39 Countries to Index of Wholesale
Prices In the United States
MISCELLANEOUS
-52-
53
Commodities Imported under Quota Provisions
Preliminary figures for January and February, 1939
Commodity
Cattle weighing under
200 pounds each
Cattle weighing
700 pounds or
more each, other
than dairy cows
.
Whole milk, fresh or sour.
Cream,
fresh or bout
Fish, fresh or frozen,
filleted, etc., Cod,
Haddock, Hake,
Pollock, Cusk and Roseflsh.
Quota
period
Dnlt of
quantity
Established
quota
Calendar Tear
Head
Quarter Tear
Calendar Tear
Calendar Tear
Bead
Head
Oallon
60,000)
225,000)
3,000,000
Calendar Tear
Ballon
Calendar Tear
100,000
Quantity imported
January 1/
February
5.720
57.575
9,522
5.651 2/
U07
207
1,500,000
84
11
Pound
15,000,000
1,016,729
1,098,962
Pound
90,000,000
1.756,703
1,347,304
Pound
60,000,000
2,062
47,828
l,051,l6S
336,063
227,460
1,500,000
834,690
14,854
1*1(8,000,000
25.777.920
20,426,183
White or Irish potatoes!
Certified seed
12 months from Sept. 15, 1938
Other
12 months from Sept,
Red cedar shingles
Molasses and sugar sirups,
n.s.p.f., which contain
soluble nonsugar solids,
(excluding any foreign
substance that may
hare been added) equal
to more than b# of
the total soluble solids.
IS
193s
1st. 6 months Calendar Tear
Square
Calendar Tear
Products of Philippine Islands:
Coconut oil
Calendar Tear
Pound
Refined sugar
Calendar Tear
Pound
112,000,000
1.198.779
8.996,537
Unrefined sugar
Calendar Tear
Pound
1,792.000,000
80,341,856
143,000.194
Pound
6,000,000
526,853
1,049,934
Cordage
1/
2/
12 months from Hay 1, I938
Partially revised.
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.
54
Summary of Criminal Cases in the United States
District Courts
Alcohol
Tajc,
Customs, Narcotics, Secret Service and Internal Revenue 1/
for the month of January 1939
INVENTORY 07 OASIS
Bureau
M*~
)
-
Treas.
HJ
U.S. Treasury Dept.
10
.A2
Treasury Bulletin
1939
c.l
Treas.
HJ
10
.A2
U.S. Treasury Dept,
AUTHOR
1939
Treasury Bulletin
TITLE
C.l
DATE
LOANED
Jan.
Mar.
@FedFRASER