Full text of Treasury Bulletin : April 1945
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J UN 91 1972
TREASURY DEPARTMENT
I
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fr-L
HI
/O
BULLETIN
l^€asu^^
OF THE
as.
TREASURY DEPARTMENT
APRIL
1945
U3RARY
Treasury Department
Room 5013
Analysis of Receipts and Expenditures
Composition of the Public Debt
Prices and Yields of Government Securities
Other Treasury Statistics
LIPRARY
UNITED STATES
TREASURY DEPARTMENT
JUN
9 1 1972
OFRCE OF THE SECRETARY
TREASURY DEPARTMENfl
Treasury Bulletin
Cumulative Table of Contents
Issue and
pa^
mimlier
19W1
19>5
4pr.
Mar.
7eb.
Jan
Sept. July-
Sac.
*-3-
loTaaion Curreocy
A-7
ladlTldual and taz&ble fiduflary Incose tax ret'ums for 19^.
War loans:
Seventh War Loan, Kay-June 19^5:
Outline of plans
A-1-
Sixth Var loan, HoTemher-Decenber 19Wti
Sales of securities, classified by Issues, by types of Investor,
and by States
A-1A-17
i-l-
Sales patterns for loan.
A-a
Outline of plans. , .-i
r
Comparison of featuree of securities offered.
i-7
A-g—
A-9
Ilfth *ar loan, June-July igMti
Sales of securities, claesified by Issues, by types of Inveitor,
and by States
A-l_
A-15
Outline of plans
,
Comparison of features of seourltiea offered.
JU5
Security porchasea outside war loaue by coomerclal banks and by Sreaeury
iDTeetneat acoountei
SUth War Loan
V.......
rif th War Loan
.7,-. .1 . . *
A-u
i^l6
United States saTloge boadi - maturity of Series A bonds
i^2
Szclse taxes in the United States* Canada, and United Elogdos
JU3
War ?inanee policies (Three speeches by the Secretary of the Treasury).
A^li-6
laaets and liabilities of all actlre banks In the United States. Dacenbar
31, 1939 through June 30, I9M*
i^lOJU13
United States sarln^t bonds - new prorislons for redanptlon throu^ banks.
financial operations of United States OoTenunent during fiscal year I9UU..
A-8
Bank deposits, gsographlc distribution on December 3I. igUl. I9U2. and I9U3
i^ll
Corporate net Income, Incoae taxes, and dlrldends, I936-I9W*
i-2A-3
Treasury market financing
A-7
A-lU
i^ie
A-lt
Summary of flaoal etatlst lcB
Budgetary receipts uid axpendltures
Public debt and guaranteed obligations outstanding.
Means of financing cash requirements
ReoeiptB and eypendlturee and approprlatlone
Budgetary receipts and expenditures:
Summary by major classifications
Analysis of receipts from Internal rerenue
Analysis of general expenditures
Analysts of expenditures for war act! Titles
Analysis of expenditures for (1] rerolrlng funds and (2) transfers to
trust account a etc
Total budgetary receipts and expenditures, by aonths. for rsoent yaara.
Trust accounts, etc. receipts and expenditnrss
5
5
i
6
I
7
7
7
7
7
8
7
7
8
9
9
9
7
5
5
6
7
5
5
7
8
7
7
7
7
8-9
»-9
7
8-9
7
S-9
8-9
8-9
10
10
10
10
10
10
10
12
12
12
12
Keane of financing cash requirements
11
11
11
11
11
11
11
13
13
13
13
Social Security program:
Budgetary receipts and si^endltures:
Social Security Act
Hallroad Retirement Act
Ballroad Unemployment Insurance Act
12
13
13
12
13
13
12
13
13
12
13
13
12
12
13
13
12
13
13
12
13
lit
15
15
lU
15
15
lU
15
15
15
\k
Ik
in
lU
lU
lU
lU
lU
lU
111
lU
lit
1'4
lU
lU
lU
lU
lU
lU
lit
16
16
16
16
16
16
16
16
\k
16
16
16
15-16 15-16 15-16 15-16 15-16 15-16 15-16 15-16
5-6
5-«
5-6
5-6
.
Statement of trust accounts:
federal Old-Age and Surrlrors Insurance Trust Tund
Railroad Retlr«m«nt Account
Unenployment Trust fund
Appropriations and nst contract authorisations for the war aetlTltlas program
Cash Income and outgo of the Treasury:
Analysis by major classifications
Total Cash Income and outgo by months and calondar yaars beginning with
January 1939
13
13
lit
9
9
9
9
7
8-9 10-11 10-11 10-11 10-11
13
lU
lU
m
15
16
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
17
(Continued on foUovinc pace)
I
April
1945
11
Cumulative Table of Contents - (Continued)
levu* and pa£«
nuiitt»r
I9U5
ipr
.
Mar
.
19UU
P»%
.
Jan
Sept.
Jttly-
May
Apr.
General Fund of the Treasury
Aiaata. llabllltlat, and balance In Oanaral Pond.
Analjtlf of changes In balance of General Tond...
19
20
Publlo debt' and guaranteed obllgationB of United States aoTemment
Public debt and guaranteed obllgatlone:
Detailed etatwaent
Tiecal year*. 1935-19^*
Monthly d«ta
Chart
2V2U
23-21*
2U-25 2»t-25
2V2U 23-2U
'Hi
Public debt
leeuanoe and retirement (receipts and ezpendituree)
Interest-bearing debt, composition of
22
22
Ooaranteed obligations held by Treasory
27
23-21* 23-2U
2M-25 2M-25 2H-25
26
26
27
Hi
:3-2U 2>2U
'U-25 25-26 J3-2U 23-2U 23-2lt
27
25
25
25
22
22
22
2k
27
27
Debt position of United States OoTernment under llBitatioae l^;ioe«d by
Section 21 of the Second Liberty Bond Act, as amended;
March 31, l^Mk
June 30,
Sept eober 30 19UI1
December 3I. I9UU
26
l^
,
Counted interest charge and counted Interest rate
28
'
27
Maturity schedule of interest-bearing public Marketable securities Isned
or guaranteed by the United States
27
27
27
27
27
27
29
26
31
32
31
33
32
3"
30
32
32
33
32
3J-3'» 3>-3'» 31^35 33-3^ 33-3''
3^35
33-3>t
32
Offerings and maturities of Treasury bills
26
27
2«-30 28-30 29-31 28-30 28-30 29-31 2S-30 28-30 30-32 27-29 27-29 2»-30
Offerings of marketable issues of Treasury bonds, notesi and certificates
of indebtedness
Disposition of matured marketable Issues of Treasury bonds, aotee, and
certificates of Indebtedness
27
33
32
30
31
33-3" 35-36 31-32 31-32 32-33
lAilted States sarings bonds:
Summary of sales and redemptions, by series
Sales by series, classified by denominations
Sales to InTestors other than commercial banke by series, elaestflad
by States
Redemptions of Series A^D and I by Statee
Payroll sarings plans
35-36 35-36 36-37 35-36 35-36 36-37 35-36 35-36 37-38 53-3'! 33-31' 311-35
3«
3«
36
37
37
37
37
37
37
39
35
35
39-110
38-39 38-39 39-ltO 38-39 38-39
llO-lll
"iio '"1*6
'U2
36-37 36-37 37-38
111
i»i
Treavury notes - tax and eaTlogs series:
SuBoary of sales and redaoptions, by ssries
Sales, claselfled by;
Denomination
of purchaser
iti-te
U1-U2 U2-U3 iic^i uo-iti
!*^
''3
^e
Ublted States savings stamps:
Summary of sales and redeoptlons
Sales, claselfled by denomination
U2
uu
Ult
"ui
"i40
"11-112 ito-ui
m
l42
Its
Wt
ll2
U2
us
us
"5
"•3
'»5
"3
U3
U3
"3
"3
uo
38
38
"39
MoJil I12-U3 t3»-39 39-l« Uo-Ul
Wl
Vi
"•5
"•3
"•5
m
1|0
la
in
la
la
Il2
U2
lis
Us
^'
113
Ownerahlp of United Statea OoTemment eeourltlea
^Bimary distribution, by holders
•5
-
Xstlaated ovnershlp by rarlous classes of bank and non-bank inveetors
Market transactions In Ocremment securities for Treasury InTestaant
accounts, monthly beginning January I937
It5
Treasury Surrey of Ownership of United States Oorernaent seoorltlee (Pederal
land bank bonds Included commeocing January 31 • 19^) C
Ovnershlp by banks and Insurance companies;
Tebruary 29. 19^*
March 31 1 9W*
April 30 I9UU
May 31. 19'*'*
June 30. igW*
Jtily 31
I9W*
•
Anguat 31. 19U4
September 30. 19^t
Herlsions
Original data
October 31 I9UU
lorember 30, 19W*
Deosmber 31, 19Wi
January 3^ 19**5
52-57 li6-51
It6-51
.
»5-li«
.
119.52
17-50
117-50
.
it«-5i
53
I17-5O
117-90
,
.
119-52
IK- 51
118-52
Baolassiflcatlon of data on banks, monthly oreabar 3O. 19^3
through febniary 29. 19UU
52-57
Ovnershlp by rarlous classes of 7ederal Beserre asaber and aonaeabar
co^Mrclal banks:
December 3I 19'*3
June 30. 19UU
Deoeaber 3I 19ll4
58-63
.
.
(OoBtlntwd
ott
51-5I1
52-55
follovlnc pa<«)
Treasury Bulletin
ill
Cumulative Table of Contents
-
-
(Continued)
April
1945
A-l
Plans for the Seventh War Loan
Goals
The Seventh War Loan ouipalgn will open on
May l^*-, 19'*5. and "HI continue through June JO.
The goal for this drive vrMl be l4- billions, of
which $7 bllllone la assigned to Individuals,
Including $4 billions assigned specifically to
Series Z savings bonds.
The goals for Individuals and for Series E bonds are the highest established in any of the war lotui drives.
In the
Sixth War Loan the goal for individuals was
#5 billions and for Series £ bonde $2.3 billions,
out of a total goal of ffl^ billions.
Major E^p^asis on Individuals
In announcing the drive, Secretary Morgenthau
stated that, as in the Sixth War Loan, the major
eophaeis throughout the loan will be placed on
the quota for individuals.
Although the drive
does not officially begin until Kay ik, an intensification of activities in the sale of Series E
bonds will begin April 9, whan millions of persons on payroll savings plftne throughout the
country will be aslced to enlarge their participation as a part of the Seventh War Loan.
All
Series E, F, and 2 savings bonds and Series
savings notes processed through the Federal a«serve Banlce and the Treasu^/ Department between
April 9 and July 7 will be credited to the drive.
During the first part of the drive, subeorlptlnns will be received from individoals
only.
Subscriptions from all other nonbank investors will be received during the final phase
of the drive from June 18 through June 30.
Securities Offered
Eight securities will be offered in the Seventh War Loan, four nonaarketable and four marThe four nonmarke table oecurlketable issues.
tles ar^ unchanged from offerings in the Sixth
savWar Loan, and consist of Serlas E, T, and
savings notes. The four
ings bonde and Series
marketable lesuee consist of 7/81t certificates,
l-l/2lt bonds, a-l/H^ bonds, and 2-l/Zi bonds.
The epeoiflo maturity dates ware announced on
April 3, 19^5 and are summarised in a table at
the end of thle article.
Subscriptions to the l-l/2iL bonds will be
accepted only fz>om Individuals. Oommeroial banks
will not be permitted to own the 2-1/2^ or the
2-lA^ marketable bonds offered in the drive
until within ten years of their respective BKturlty dates.
111* bi.Xllon.
One of the prJjaary cbjeotlves
of this Drive will be the sale of ^7 billion
of
Oovemment
securities to individuals.
This is t'ss-i larseot quota that had ever been
set for individuals in » War Loan Drive.
As
a part of the campaign to r^lee this amount,
an Intensive program for r.he sale of Series E
bonds in the plbnts &nd factories of the
country vlll begin on i.r>rli 9.
•The Seventh War Loan will be a continuation of the Treasury's Intensified war bond
sales program.
It
is
olear that Federal
expendlture« are going to remain at a high
level for eome time to ocme.
It is also ap]3arent that funds in the hands of non-bank
investors will oontinue to inoreaee sharply
under present conditions.
It la highly desirable to channel aa muoh of these Ainds as
possible into Qovei-nment eeourity investment,
and to put them to work in the pi^>secutio(i of
the war.
•To the extent that this objective can
be accomplished, the amount of money obtained
from the oommeroiaLl banking system can be reduced.
The basket of securities selected for
the Seventh War Loan Drive la designed to
accomplish maximum Investment of non-banking
funds, and to hold indirect participation of
commercial bank fundb ^3 a minimun.
With
this in mind, the follc»idg changes in the
pattern and procedure followed in previous
drives h«ve been made:
(a)
The corporation quo':a has been redueed fro* the (9 billion tb£t was
uisi^ed in the Sixth Loan to |7
billion. Thle will reduce State and
county quotas In proportion and will
out down exoeselTe subscriptions previously entered for spesulative or
quota-making purposes.
(b)
The badket of sosurities offered to
corporations doee not contain the
1-1/2 percent bend
th»t will be
available to individuals during the
Drive.
It was in the corporate basket and on liisuee of this type that
speculatir« tul^scrlptlons were entered In pr^rloue war loans, and substantial purobaaes of thaee Issues
wei-e made with the proceeds of the
sale of securities already 3^n«d,
Speculative Purchased Dlscouragred
Spsclal efforts are being made to achieve
maximum investment of nonbank funds in the Seventh War Loan, and to hold the indirect participation of commercial banks in the drive to a
minimum.
These were described in a letter, dated
March 20, 19'^, which was sent by the Secretary
of the. Treasury to all commercial banks, and
which is reprinted below.
•March 20,
19»t5
•The Treasury will open the Seventh
Loan Drive on May 14^, 19>4'3, with a goal
W«ur
of
(o) Non-bank
investors
have
been requested to refrain from selling securities now owned solely for the purpose of obtaining funds with which to
subscribe for the securities offered
in the Seventh War Loan Drive.
This
request is not lntenc.sd to preclude
normal portfolio adJustmentB.
"I earnestly request your cooperation in
the coning Drive, (1) in declining to make
loans for the speculative purchase of O-ovemment senurities;
(2) in declining to accept
Treasury Bulletin
A-
Bubscrlptlone from your cuBtomere which appear to be entered for speculative purpoeee;
and (3) In declining to make loans for the
purpose of acquiring the Drive securities
If you have any
later for your own account.
doubt ae to the propriety of accepting a subscription for a marketable Issue presented
through your bank, please submit the circumstances and all available Inforaatlon to the
That
Federal Reserve Bank of your District.
bank, In Its capacity as fiscal agent of the
United States, will advise you as to the disposition to be made of the subscription.
thank you for the real service that you and
the other banks of the country have rendered
in connection with the War Loans, the issue
of Savings Bonds, and our financing operayour continued
I bespeak
tions generally,
help in the coming Drive, to the end that we
may obtain maximum investment in the seourlties offered of the type of funds we are most
anxious to secure.
"I further request your cooperation In
declining to purchase outstanding securities
from non-bank Investors on the understanding
or condition that a subscription for a substantially like amount of Treasury securities
offered during the Drive will be made through
your bank with payment to be made through the
War Loan Account.
Secretary of the Treasury."
"The Treasury Is in favor, of course, of
loans to facilitate permanent Investment In
Government securities provided such loans
conform to the provisions of the Joint Statement Issued by the National and State Bank
Supervisory Authorities on November 23, 19^.
This statement, you will reoeai, reads in
part as follows;
'.., subscribers relying upon anticipated
income may wish to augment their subecriptions by temporary borrowing from
Such loans will not be subject to
banks.
criticism but should be on a short-term
or amortization basis fully repayable
within periods not exceeding six months.
"We in the Treasury realize the difficulties that the Federal Reserve Banks and
banking Institutions generally have experienced In their efforts to handle subscriptions In accordance with our objectives durWe also realize that it
ing past drives.
to apply absolutely uniform
is impossible
standards to the hundreds of thousands of
subscriptions for the marketable securities
which are received in the course of a big war
What Is desired and expected is
loan drive.
a cooperative effort to make the program as
effective and equitable as possible.
"Another matter with respect to which I
should appreciate your continued cooperation
is that of holding transfers of funds for the
purchase of Government securities to a miniStatistical credits will, of course, be
mum.
given to localities desired by the purchaser
in the Seventh Loan as In previous drives.
"I
wish
to
take
this
opportunity to
Sincerely,
/S/
HENRY MORSENTHAU, JR.
Deferred Payments
Life insurance companies, savings institutions, and States, municipalities, political sub-
divisions, and similar public corporations, and
agencies thereof, will be permitted to make deferred payment in whole or in part, at par and
accrued Interest, for the Z-l/kf> and 2-1/^^ marketable bonds allotted to them, up to August "}!,
Geographical Allocations
In order to avoid unnecessary transfers of
funds from one locality to another during the
the Treasury has again reSeventh War Loan,
quested that all subscriptions by corporations
and firms be entered and paid for through the
banking institutions where the funds are located.
This request is made to prevent disturbance to
The
the money market and the banking situation.
Treasury will undertake to see that statistical
credit for corporation subscriptions is given to
any looalitiee which the purchaser say request,
except that subscriptions from insurance oompsinies will be credited to the State of the home
office as in the past.
Concurrent Investment of Time Deposits
by Cotranerclal. Banks
During the period from June IS through
June 30 commercial banks, which are defined for
this purpose as banks accepting demand deposits,
will be afforded an opportunity to subscribe for
certain securities Included in the Seventh War
Loan for the limited investment of time deposits.
The securities available for such subscriptions
savings bonds, the
are Series T and Series
l-l/2')i marketable bonds and the 7/Si> certificates
offered in the drive.
Subscriptions are limited
to aggregate amounts not exceeding lOJi of savings
deposits,
and time certificates of deposit of
individuals eind nonprofit organizations, but not
more than $500,000 in all (of which not more than
savings
|100,000 may be Series F and Series
bonds).
Securities so acquired by the banks will
not be Included In the drive nor will they be
counted toward any quota.
Securities to be Offered In Seventh War Loan
Marketable securities 1/
3
April
1945
A-
Invasion Currency
The wide geographical scope of military operations In this war and the great development of
techniques of economic warfare have made money an
important offensive and defensive weapon of war.
Providing this weapon In Its most efficient form
has required careful and detailed planning far In
advance of military operations. Just as we need
many varieties of military weapons, of ships, and
of planes, so we have found that the effective
conduct of war on the financial side requires a
variety of currency measures designed to meet
varied and changeable situations.
This article
explains some of the principal currency measures
which have been carried out during this war.
Keeping Dollars from the Axis
Even before we entered the war, this Governthrough the Foreign Funds Control of the
Treasury Department, took steps to prevent the
Axis from using American currency which It looted
when It overran the countries of Western Europe
If we had taken no proand other territories.
tective measures, the Germans would have been
enabled to use freely the dollars they looted In
Holland, Belgium, and France, and elsewhere to
buy critical war materials In the United States
or In other markets, to finance propaganda and
espionage, and for a host of other activities
constituting an important part of the Axis total
The strength of the dollar and its univerwar.
sal acceptability throughout the world made It of
particular Importance that we take steps to prevent use of this currency by the Axis. What we
did. In substance, was to say that no one would
be permitted to import dollars Into the United
States unless he could prove that the dollars
were not looted by the Axis. We could not stop
trading in dollars in foreign countries entirely,
but we did serve notice on anyone who bought the
dollar bill anywhere in the world that before he
or anyone to whom he might pass the dollar note
could bring it into the United States and use
it for purchases here, he would have to prove
that the dollar did not pass through Axis hands.
These measures went a long way in aooomplishlng
their purpose. The Axis realized far less from
the dollars they stole than otherwise.
ment,
When the Japanese descended upon the Philippines, we were able to take even more effective
measures. While the Japanese were still marching
toward Manila, we Invited people to deposit all
dollar and Philippine peso currency they had with
the Amerlcam authorities, against receipt.
Careful records were made
of the currency so received, and the records are in Washington today.
When the defense of the Philippines became hopeless, we burned the currency to make sure that
the Japanese would not get it.
After the attack on Pearl Harbor, Hawaii became a danger spot in our defenses, and we could
not be blind to the poeslbility that the Japanese
might attempt to invade the Islands, as, indeed,
1/
A presa
release of the Treasury Departmeat, March lU,
i/
they evidently Intended to do when we stopped
them at Midway. As a defensive measure, we introduced the Hawaiian dollar, which is simply
regular United States currency with the word "Hawaii" overprinted In large letters. We exchanged
all regulnr dollar currency in Hawaii for Hawaiian dollars, and we were then ready for the Japanese from the point of view of money.
Had the
Japanese conquered Hawaii, the distinctive Hawaiian currency would have made it possible to take
appropriate measures to prevent the enemy from
using this currency to any advantage.
In 1914-3
and early 1944, the Hawaiian dollar was put to
further use in the occupation of certain Japaneseheld Islands in the Pacific, for the convenience of our naval personnel, since they operated
out of Pearl Harbor.
More recently, since our
successes in the Pacific have removed all danger
of an invasion of Hawaii, we have discontinued
issuing Hawaiian dollars and are gradually withdrawing these dollars from circulation by replacing them with regular currency as they are turned
in to banks.
U. S. Military Disbursements
In the United Kingdom
Large American forces have been in Great
Britain at all times since the early days of our
participation in the war. These men had to be
paid, and the Army and Navy had to make Incidental expenditures for their maintenance and for
other military purposes not covered by reverse
lend-lease.
The British Government did not want
American dollars paid to our troops, and thus put
into circulation on a large scale in Brltian.
British exchange control laws forbid the circulation of foreign currencies, and the use of American dollars for troop pay and other purposes
would have broken down the British domestic and
foreign exchange controls. Moreover, dollar payments would have been inconvenient for the men as
well, since everything they might want to spend
the money for was priced In terms of British
currency.
For these reasons, it was obviously
undesirable to pay our men in dollars.
In the
United Kingdom we followed the usual practice,
and the one that we followed In the last war; we
bought British pounds from Britain and paid for
them in American dollars.
Then the British money
was disbursed as net troop pay in Britain and for
other purposes.
No special problems arose because Britain was not an invaded country, the
government was functioning normally, and banking
facilities were readily available for this kind
of exchange transaction.
It must be pointed out that in Great Britain
as well as in all other parts of the world, whatever the currency arrangement may be, the soldier
gets local currency only to the extent that he
wants cash for local expenditures.
Much the
greater part of the soldier's pay Is not drawn in
cash at all.
It is allotted to dependents of the
soldier. It goes to pay premiums on
insurance
policies, It is sent to people in the United
States in the form of personal remittances, it is
A-U
deposited through Army faollltlee In American
banks, and It la used to purchase war bonds. All
of these transactions are carried out wholly In
It Is only a minor percentage of pay
dollars.
which the soldier wants In cash for expenditures
In the foreign country which Is paid to him In
If at any time a soldier finds
foreign currency.
that he has not spent all the foreign currency he
drew, he can exchange what he has left, through
Army facilities, for dollars to be sent to the
United States as a remittance or for saving.
The same pattern has been followed in other
not occupied by the enemy, where our
lands,
Thus,
troops have gone in the course of the war.
In Australia, Brazil, Canada, India, Iran, Iceland, and other far-flung places where our troops
have gone to man the supply lines, we buy the
local currency we need for dollars in the traditional manner.
Invasion Currency
When we prepared to Invade enemy countries,
and countrlee occupied by the enemy, we could not
plan to use the procedure followed In Britain and
other countries which have not been battlefields
From the outside, we could not know
of the war.
with certainty what we would encounter in enemyIn Tunisia, the aermans flooded
held territory.
the territory with French franca, paid out with a
lavish hand, in the hope of setting loose an uncontrollable Inflation, as they did so much more
In Sicily, the Germans orthoroughly in Greece.
dered the banks to burn Italian currency before
our forces arrived. We had to be ready to meet
both these tactics, as well as others which have
We needed to assure our
been used against us.
troops of necessary currency, without depending
on local banks (because we might find banks destroyed, or unusable because their maneigement
loyalty was questionable) , without knowing whether
civilian government would be in condition to permit normal business transactions, and without the
opportunity (In the case of enemy and French territory) of making arrangements in advance with a
recognized government. We had to anticipate the
possibility that we would be required to provide
currency for civilian needs, before local selfgovernment could be re-established in liberated
Our assault forces would precede even a
areas.
We might find that the
recognized government.
mayor of the first town liberated needed money
urgently to keep his police force on the Job, to
hire laborers to clear the streets, or for a host
of other work needed In the immediate wake of
battle. Our supply officers needed an acceptable
currency so they might purchase quickly and readily supplies and services which the Army might
It is obviously easrequire of local civilians.
ier to hire a crew of laborers to unload ships
if we pay them in cash at the end of each day,
rather than give them receipts and tell them to
submit their claims for future collection.
Treasury Bulletin
mark to permit segregation if the situation so
requires. We simply substituted yellow ink for
blue in printing the seal on regular silver cerWe did not know
tificates of the United States.
whether we would be welcomed as allies or resisted as invaders; we could not be certain that
The yellow seal
we would not incur reverses.
gave us the opportunity to segregate the currency
The
if we should be driven from North Africa.
yellow seal also gave us the opportunity to dietingulsh this currency from regular United States
currency which we found in circulation in North
In administering
Africa on our arrival there.
from
our controls designed to keep the Axis
realizing on looted dollars, we were able to permit the yellow seal currency to be imported into
the United States with less necessity of control
than regular currency, which might have been
looted by our enemies.
We stopped issuing yellow seal dollars in
North Africa within a few months after our arrival there, and have succeeded in withdrawing
When we planned to
almost all from circulation.
change over to the use of regular North African
banknotes, we found that the French in North
Africa had neither the paper. Ink, nor printing
facilities to supply the demand for local curThus the French currency finally put to
rency.
use in place of the yellow seal dollar was actually printed by a private firm in the United
If
States, for the North African issuing banks.
General Elsenhower's invading forces had not carried a supply of currency, there would have been
an actual physical shortage of money for the cirThe new North
culation required in North Africa.
African currency made possible a prompt currency
conversion by the French authorities after the
Nazis were expelled from Tunisia, thus stemming
the inflation the Germans tried to create.
'
In our first Invasion operaNorth Africa.
tion. North Africa, we used yellow seal dollars.
Yellow seal dollars, like Hawaiian dollars, are
I'egular American currency, with a distinguishing
In planning for the inItaly and Sicily.
vasion of Italy, we had another important considWe did not want to pay our men
eration in mind.
in dollar currency, and thus turn dollar claims
against the United States into general circulation in an enemy country.
After the last war,
our Army of Occupation made gross disbursements
of almost $300 millions in Germany, most of it by
cashing dollar checks for marks at German banks,
and by paying out actual dollars to our troops.
These dollars were never recovered. We filed a
claim for our net costs of occupation, and we
have been no more successful in collecting than
have the European reparation claimants against
Gennany.
By using an invasion currency assimilated to the currency of the occupied territory,
we can keep the dollars pending final settlement
rather than give them to the enemy.
In the first few weeks of the Sicilian operation, we used yellow seal dollars, as in North
Africa.
While preparations were under way for
months in advance to use the Allied Military
lira, we did not want to print the word "Italy"
or the word "lire" until the world knew where the
We discontinued
Allied armies would strike.
issuing yellow seal dollars in Sicily within a
short time, and, as in North Africa, have since
April
1945
A-5
Buooeeded In withdrawing the
rency from circulation.
bulk of
this cur-
The AM lira, which has been used ever since
In Italy, is not a currency of the United States
It Is an Italian currency, origiin any sense.
nally declared legal tender In Italy by the occupying Allied armies acting as the military govUnder settled Interernment of occupied Italy.
national law, the military governor of occupied
enemy territory can make laws for the territory,
Thus, the
with the full governmental authority.
Supreme Court of the United States has said:
"The right of one belligerent to occupy and
govern the territory of the enemy while in
Its military possession, is one of the incidents of war, and flows directly from the
right to conquer. We, therefore, do not look
to the Constitution or political Institutions
of the conqueror, for authority to establish
a government for the territory of the enemy
in his possession, during its military occupation, nor for the njles by which the powers
of such government are regulated and limSuch authority and such rules are
ited.
derived directly from the laws of war, as
established by the usage of the world, and
confirmed by the writings of publicists and
in fine from the law of
decisions of courts
nations. *•• The municipal laws of a conquered territory, or the laws which regulate
private rights, continue in force during military occupation, except so far as they are
suspended or changed by the acts of the conqueror. *** He, nevertheless, has all the
powers of a de facto government, and can at
his pleasure either change the existing laws
United States ,
or make new ones." Dooley v.
1S2 U.S. 222 (1901).
—
The military governor declared AM lira to be
legal tender in Italy, and thereby made the currency equivalent to and assimilated with the preAM lira
viously Issued regular Italian lira.
contains no promise of redemption on the part of
the Allied forces, and the currency has In every
way been made part of the currency issue of
The Italian Government made the AM lira
Italy.
legal tender as one of its first official acts
after its arrival in liberated territory in September 19'^3.
The Allied Military lira, while printed in
the United States, was not issued by the United
It was Issued by the Allied Military
States.
Commander of the Mediterranean Theater, acting
for the armies under his command, British and
American, with contingents of other countries.
The printing could Just as well have been done in
Brazil or India; we did it here because we had
the printing faollities.
and LuxemNetherlands,
Belgium,
France,
for the
bourg.
Our preparations for D-Day,
Invasion of Western Europe, were simpler in
First, we had legally recognized
two respects.
govermnents-in-exlle with which we could deal, in
the case of Belgium, the Netherlands and LuxemSecond, plans for an invasion of Western
bourg.
Europe were publicly announced, and the currencies
for all of the occupied Western European
countries were produced simultaneously.
The allied forces landed on the Noi*mandy
beaches with "supplemental francs".
This currency was printed In the United States, because printing facilities were available here. In
agreement with the British Government and after
consultation with the French Committee of National Liberation.
Subsequently, the French Committee, which was successively recognized as the
de facto authority In France smd as the Provisional Government of the French Republic, assumed
responsibility for the issue of all the supplemental francs used since D-Day. Our arrangements
with the French authorities thus are the same as
the arrangements with Belgium, the Netherlands
and Luxembourg, made before D-Day.
The Belgian Government in London had prepared a new Issue of Belglsui currency which was
printed at its order in England.
The Belgians
were asked to advance to General Eisenhower as
much of this new Belgian money as might be needed
by the liberating armies. We undertook to pay
the Belgian Government in dollars for any expenditures made by the American forces for net troop
pay or for certain other strictly military purposes not covered by reverse lend-lease. Any advances made toward the conduct of normal civilian
affaire In Belgium would be for the account of
the Belgian Government, and we would not be expected to reimburse the Belgians.
Netherlands currency was printed privately
Canada
at the order of the Netherlands
Oovernment-in-Exlle, and similarly was supplied
to General Elsenhower.
The new Luxembourg currency was printed both In Britain and in the
United States.
in
The availability of a new currency for each
of these liberated countries provided a necessary
monetary instrument, necessary both for the military forces of liberation and for the government
of the liberated country.
Thus, the Belgian Government, after its re-establlshment in Brussels,
called in all old high denomination Belgian currency circulating, and made the new notes the
only legal tender. This was done as part of a
financial program designed to reduce the Inflated
currency circulation Imposed on the Belgljins by
the Germans
and to help stabilize the Belgian
economy.
In the Pacific theatre, we
Pacific Theatre.
followed the eaF.e procedure In our arrangements
with the Dutch Government for military operations
The forces of General
in the Netherlands Indies.
MacArthur and Admiral Nlmltz were armed with
Netherlands Indies guilders prepared upon the
order of and issued by the Netherlands Government
supplied to General MacArthur and Admiral Nlmltz
and paid for in dollars to the extent that they
were used for net troop pay and other strictly
military expenditures not covered by reverse
lend-lease.
A-
United States Army and Navy forces In the
Philippines are using a new "Victory Series" of
Philippine currency and a new 19W series of
Philippine coins prepared In anticipation of our
return.
The currency, as In pre-war days, was
produced by the United States Bureau of Engraving
and Printing, and the oolne were manufactured by
the United States Mint, at the request of the
Philippine Commonwealth Government.
As In prewar days, every two pesos of the new Philippine
Treasury certificates Is backed by one United
States dollar on deposit In the United States,
and In addition the Commonwealth maintains an exchange stabilization fund amounting to between I5
and 255^ of the currency In circulation.
In each of the Allied countries, the Invasion currency used was not In any sense a curIt was provided by
rency of the United States.
the local government of the liberated country Itself, euid such government or Its central bank Is
solely responsible for the redemption of the currency. We pay In U. 3. dollars for the foreign
currency we use for net troop pay and certain
other strictly military expenditures not covered
The moment any such disby reverse lend-lease.
bursements are made by Army Finance officers,
Washington Is notified and the dollar amount Is
taken from the Army appropriation and set up In a
A similar prospecial account In the Treasury.
Thus,
cedure Is followed with Navy expenditures.
Congressional control over the size of Army and
Navy appropriations Is strictly maintained, Generals Elsenhower and MacArthur and Admiral Nlmltz
are supplied with ample local currency of the
country In which they are operating and the
Allied government Is paid later when the accounts
are balanced up.
As the picture changed In Italy, and Italy
became a co-belligerent In our war against Germany, the AM lira demonstrated Its usefulness.
It was decided to make available to the Italian
Government, for vital rehabilitation, the dollar
equivalent of net American troop pay disbursements made In AM lira, thus following. In part,
the pattern of our arrangements with our Allies.
This action, taken In such a way as not to prejudice any ultimate financial settlement with
Italy, Is helping Italy today to share In the
struggle to liberate Northern Italy.
The Allied Military mark has now
Germany.
been Introduced In occupied areas of Germany by
It Is being Issued under the
the Allied armies.
same conditions as provided the basis for the
original Issuance of AM lire.
Who Will Redeem These Currencies?
When Invasion currencies were first put to
use by the Allied forces the question was frequently raised, "Who will redeem these currencies?" Writers In various popular periodicals,
as well as financial Journals, speculated from
time to time as to whether the United States did
or did not Intend to redeem Invasion currencies,
or whether some other government or agency did or
did not Intend to do so.
Treasury Bulletin
All of this speculation about whether or not
the United States will "redeem" such currencies
arises from a fundamental misconception of their
The
United States Government did not
nature.
Issue any of this Invasion currency (except, of
course, yellow seal and Hawaiian dollars, which,
as pointed out above, are In every respect United
States money), and therefore ,1s under no obligation to "redeem" such currencies.
No promise of
redemption was ever made.
No Invasion currency
carries any legend suggesting redemption by the
United States.
In fact the words "United States"
do not appear on any of the Invasion currencies
at slII.
These currencies serve the same purpose
of providing local means of payment as Is served
by the British sterling used to pay our troops In
Britain and our obligation of redemption no more
exists In the former case than In the latter.
Every local currency used by the Allied
forces Is issued by the authority of the lawful
government of the country In which the currency
Is disbursed.
Belgian, French and Dutch currencies used by our troops are Issued by the lawful
Belgian, French, and Dutch Governments, Just as
the British pounds we use are Issued by the British Government. AM lire and AM marks are Issued
by the lawful governments of the portions of
Italy and Germany occupied by the Allied forces;
under International law the military commander of
these areas Is the lawful government.
Due to the
destruction of Italian facilities. It has been
necessary for the Allied Financial Agency to continue to make available AM lire, which has been
made legal tender by the Italian Government In
territory controlled by It, boLh for the needs of
the Italian Government and the Allied forces.
Thus, It Is perfectly clear that the United
States has not obligated Itself In any way to
"redeem" any Invasion currency Issued In a foreign land, and we have no "secret understandings"
that we will ever do so.
We have arranged to pay the Allied governments dollars equivalent to the net amount of Invasion currency disbursed to our troops as pay
and allowances In these foreign lands, as we pay
dollars to the British when we buy sterling with
which to meet our Army and Navy payrolls In the
United Kingdom. Similarly, other strictly military expenditures originally effected In Invasion
currency In these Allied countries are also compensated In dollars to the Allied country whose
currency we use. If they do not come within the
scope of reverse lend-lease.
The local currency which Is paid to our
troops In foreign territories Is furnished to the
military forces by the governmental authority
concerned. When the U. 3. forces obtain a foreign currency for military expenditures, the relevant military appropriation Is charged for the
dollar equivalent thereof In the United States.
In
this manner the
control of Congress over
the expenditures of the U. 3. military forces Is
maintained.
The amounts of the dollar equivalent
of the net troop pay and other strictly military
expenditures not covered by reverse lend-lease
April
1945
A-7
which have been certified to the Treasury by the
War and Navy Departments are paid to the Allied
In the case of Italy, vfe
government concerned.
held the money In a suepenee account until recently, when It was decided, In view of Italy's
statue as a oo-belllgerent, to maie the net troop
pay dollars available to the Italian Government
for the purchase of neoessary rehabilitation supplies In the United States, aa pointed out above.
When our troops are paid In new Belgian
francs supplied by the Belgian Government, they
are getting the lawful currency of Belgium. Similarly, whan they are paid In AM lire, they are
getting a currency which Is a lawful currency of
Italy.
It is the same In each of the countries into
which our armies have moved. Invasion currency
is not something separate and apart from the curIt becomes, ImiBediately
rency of the country.
upon issue, part of the currency of the country
We use the ouiTency sysin which it is Issued.
tem we find for the needs of our troops, because
that is the quickest and most efficient way of
providing our armies with the money they need for
carrying on their operations.
Our allies
Holders of 93^ of the t^.^l millions of
Treasury notes which matured during March 19*^
accepted the exchange offered them on February 19
and tendered their maturing securities in payvent
for new 1-year, 7/8^ certificates of Indebtedness
dated March 1, 19l<5 and due March 1, igM^. More
than 93^ of each of the taxable issues was ex6<^
of the
changed. The smaller proportion
wholly tax-exempt issue exchanged presumably reflects the desire of holders to do their own refunding rather than to accept a taxable security
The followin return for a taix-exempt security.
ing table shows the amount and percent of each
maturing issue exchanged, and the amount of each
issue remaining to be paid off in cash.
—
—
followed similar procedures
are much the same as ours.
Canada is being supplied with francs and guilders in the same way.
The Russian forces introduced a military lei in
their invasion of Rumania, and are today using
the same AM mark in eastern Germany as we are
using on the Western Front. We have plajined with
our Allies for the use of money as well as for
the use of other weapons of war.
Treasury Market Financing
Results of March Refunding
have
in providing currency for their military forces
in foreign lands.
The British used a British
Military Authority note, denominated in pounds in
their early operations in Africa; again, side by
aide with our yellow seal dollar, in North Africa
and in the early weeks of the Sloillan operations; and, only a few months ago, in the operations in Greece.
The British Joined us in the
use of AM lire in Italy.
British arrangements
with the Western European countries for currency
i/
8
Treasury Bulletin
A-
Individual Income Tax Returns and Taxable Fiduciary
Income Tax Returns for 1942
On Maroh 3I, 1945 the Secretary of the
Treasury released to the public data from the
"BtatlBtlos of Income for 191*2, Part I". The Information was compiled from individual Income tax
returns and taxable fiduciary income tax returns
for 191*2. A summary of the data made available
in the release is given in this article.
Comparison with 1941
The table below gives a comparison of the
returns for 1942 with those for 194l.
It shows
the number of returns, net income, deficit, and
taxes paid in 1941 and 1942.
1941
Number of returns
Taxable returns:
With net income (individual and fiduciary)..
With no net laoome (individual)
1942
Increase
Percentage
Increase
April
A-9
1945
net Inoome Is aooounted for In the Income olasaef
under $3,000.
Taxable returns for ISkZ number nearly 28
millions, EOid show a net Inoome of about |67 billions, an Inoreaae of ^i% In number and k6% In
net Inoome over 19'^1>
The total tax liability for I9I+2 Is almost
billions, an Inoreaae of $5 billions or 128^
over the previous year. The tax inoreaee results
from the Increased normal and surtax rates, the
lowered personal exemptions, the Increase In the
number of returns filed, and also from the generally higher Incomes received by taxpayers. The
alternative tax decreased because It Is no longer
applicable when there le a net lose from sales of
capital assets.
9
The average tax for the taxable retux>ne is
$322 as compared with |222 for 191^1 and the effective tax rate Is 13.3^ as compared with 8.5^
for ig'n.
Changes In Internal Revenue Code
It should be pointed out that the comparability of data for Individual and fiduciary returns for 19!^ with data for the previous year Is
affected by changes In the Internal Revenue Code
The most
made by the Revenue Act of 19'(-2.
as
Important changes were the following:
the last day of the taxable
The optional tax la inereaaed t»
r«fl«ot the ebaitgea In rate* f«r aenwl
tax and aartaz.
Inatoad of
yeu*.
below the grade of commissioned
officer In the military or naval forces
of the United States exclude from gross
income salary received for active service
in such forces to the extent of $250 If
single and not the head of a faunlly, or
$300 If married or the head of a family.
The filing of returns Is automatloally
postponed for all members of the military
or naval forces serving outslda the continental Dnlted States.
(•) Personnel
bond premium Is a deduction
against Interest received; and medloal
expenses paid during the taxable year not
oonipensated for by Insurance or otherwise
are allowed as a deduction from gross Income to the extent that such ejqjenses exceed 51^ of het Income computed without
regard to the medloal expanse. However,
the medical expense deduction le limited
to $2,500 In the case of husband and wife
who file a Joint return, or the head of a
family, and to $1,250 for all other individuals.
(f) Amortlzable
or business Is
removed from the definition of capital
asaats.
The meaning of short-term la
changed fz^jm 18 months or less to 6
months or less and that of long-term froa
more than 18 months to more than 6
months.
Only 501^ of the gain or loss
recognized upon the sales or exchanges of
capital assets held more than 6 months Is
taXen Into account In computing net income; formerly, 66-2/3^ of the gain or
loss from sales of capital assets held
more than 18 months but not more than 2'^
monthe, and 50^ of the gEiln or loss from
such sales held more than 2^ months, were
taken Into account. Losses from sales or
exchanges of capital assets are allowed
as a deduction only to the extent of the
gains from such sales or exchanges, plus
the net Income computed without regard to
such gains or losses, or $1,000, irtilohFormerly, the shorterer Is smaller.
term capital loss was allowed only to tha
extent of short-term gain; and long-term
capital loss was allowed to the extent of
long-term capital gala and to the extant
of other Inoome vhleh Included the net
short-term capital gedn.
(g) Real estate used In trade
(a)
The mlnlaum amount of gross Income for
which a return Is required to be filed Is
reduced from |l,500 to |1,200 for a married person living with husband or wife
for the entire taxable year; and from
$750 to I500 for a single person, a married person not living with husband or
wife for any part of the taxable year, an
estate, and a trust.
(b)
The personal exemption Is reduced fi^>m
11,500 to tl,200 for a person who, during
the entire year, was head of a family, or
was married and living with husband or
wife; and from I750 to $500 for a single
person, a maz^led person not living with
husband or wife any part of the taxable
The credit on Form
year, and an estate.
lOUo for a dependent le reduced from lUoo
to $350.
(o)
^
The normal tax rate Is Increased from
to 6^, and the surtax rate of 6^ of the
first $2,000 of surtax net Inoome, progressing to 77^ of surtax net income In
excess of $5,000,000, Is Increased to 13^
of the first $2,000 of surtax net Income,
progressing to S2^ of surtax net Inoome
In excess of $200,000.
the computation of alternative tax,
rate applicable to long-term gains
from sales or exchanges of capital assets
Is changed from 30^ of the net long-term
capital gain to 50^1 of the axaess of net
long-term gain over net short-term capiThere Is no alternative tax In
tal loss.
the case of a net loss from aales or ez-
(h) In
the
(d)
The optional return. Form 1040A, le no
longer permitted to be used by a taxpayer
receiving rent and royalty Income. The
deduction on Form loUOA, for a dependent
Is reduced from $1400 to $385 and the marital status Is determined as of July 1,
Treasury Bulletin
A- 10
ohangee of oapltal asBete, but the deduotlon for such a net loss Is limited as
described In (g) above.
Coverage of the Statistics
The returns Included In this report are returns for the calendar year 19^+2, a fiscal year
ending within the period July 19'4-2 through June
19it3, and a part year with the greater part of
Returns for which
the accounting period In 19'f-2.
statlBtlos are tabulated are Forms 1040, lO'WA,
Tentative returns and amended
lO'KJB, and 104-1.
Statistics are taken from
returns are excluded.
the returns as filed by the taxpayer, prior to
revisions that may be made as a result of audit
by the Bureau of Internal Revenue.
Data for Individual returns, Form lO^O, with
net Income of $5,000 and over, and for taxable
fiduciary returns regardless of the amount of net
This procedure
Income, are tabulated In full.
IB followed also with respect to Individual returns, Form lO't-O, with net Income under $5,000
where business receipts equal or exceed $25,000.
Data for all other Form lOUo returns with net
Income under $5,000, and for all Form lO'WA returns, are not tabulated In full but are estimated from samples.
The optional return. Form lO'+OA, which may
be filed by an Individual whose gross Income Is
not more than $3,000 and Is wholly from salary,
wages, dividends, Interest, and. annuities, does
not provide for reporting the amount of net Income, therefore such returns are not distributed
by net income classes. The gross Income Is tabulated both as total Income and net Income. The
personal exemption shown In the tables Is determined from the taxpayer' s status as Indicated on
the return and the earned Income credit shown le
estimated at
3.^
of the gross Income.
The net Income used for tabulation and olaselflcatlon of the fiduciary returns Is the net
Income taxable to the fiduciary, that Is, after
deducting the amount distributable to beneficiaries.
Table 1, at the end of this article, shows
tabulations from Individual returns and taxable
fiduciary returns for 19'(-2 by States and territories.
It gives the number of returns, net Income, gross Income, deficit, and tax distributed
by States, as well as the percent of population
which filed returns In the Individual States and
territories.
Table 2 gives a distribution by net Income
classes of the number of returns, net Income, exemptions and credits, total tax and other data
tabulated from Individual and taxable fiduciary
The data for Form 104o and
returns for 194-2.
Form 104-1 with Income under $5,000 are broken
down Into more detailed Income classes than hereStarting with the lowest, under $500,
tofore.
the classes proceed by Intervals of $250 up to
and by Intervals of $500 up to $5,000,
$3,000,
thus practically doubling" the number of classes
Thereafter the InIn this range shown for 1941.
come breaks are the same as previously used.
Table 3 presents Information on the various
sources of Income and deductions for returns of
Total
Individuals and of taxable fiduciaries.
Income from all sources aggregated almost $87
while deductions
for
returns,
billions
all
amounted to almost $S billions leaving $79 bilDetails on sources of Inlions of net Income.
come and deductions by Income classes are given
In the original release.
..
..
.
^
5
3
8
..
A-ll
1945
April
Table
...
1,
-
Individual and Taxable Fiduciary Income Tax Returns for 1942
Comparison by States and Territories of Percent of Population Filing Returns,
Number of Returns, Income £ind Deficit, and Tax
states and
terrltorlee
Population
JulT 1,
1/
Percent
of population
filing
returns
sands)
2,9»H
13.1
75
52.1*
AlaslLa.
Arizona.
550
Number
of
returns
In thou-
In thousands)
Alabama.
Total Individual
and taxable
fiduciary returns
2"*.
387
3
Individual returns and taxable fiduciary returns 2/
with net Income, except
returns on Form lOUOA
Number
of
returns
Total
tax
(In mlllions of
dollars)
(
In thoU'
sands)
'^
145
13.3
31.4
18
61
77.
Net
Tax
Inoome
2/
(In millions
of dollars)
420.6
60.3
166.5
64.2
9.3
25.9
Individual returns,
rorm lOUOA
Number
of
returns
(
In thou-
sands)
Sross
inoome
117.6
75
1,277
117
2,150.1*
.'•'^
1'45.3
182.9
8.9
'*9.3
10.4
3.'4
1'4.3
1.2
15.1
.1
1*0.2
38.5
112
270.4
4,152.7
626! 6
'•III
1*03.6
57.7
Connsotiout
Delaware
District of Columbia.
1,785
279
865
'H.5
7'W
254.0
42!l
,11
106.
150
1,180.2
160.3
476.5
204.8
38.5
82.1
2l4
661.6
83.4
328.6
Florida.
Georgia.
Hawaii.
2,139
3,219
19.2
13.0
37.3
1*10
1*17
1*42
165
106.7
100.8
51.3
208
177
52
579.1
504.6
211.0
96.3
S6.5
36.2
198
239
112
293.8
374.3
208.9
1*78
25.5
122
2,733
1,006
24.2
692.8
190.2
74
1,378.4
1,227
428
81.3
1,912.2
575
19.6
590.2
161.7
47
l.'*96
162.7
4,032.1
61*5
1*51
1*16
109.5
78.5
73.0
462
300
978.3
657.3
536.5
98.6
71.0
44.3
382
84.8
^3.3
186.2
173
112
344
1461.3
71.6
264.9
1,016.6
3'4.3
369.5
749
1,082
472
2,075.6
3,235.5
991.5
88
550
87
235.0
1,310.6
209.4
173.4
26.4
208
28
449.4
84.6
159.3
1*8.6
115
68
14.4
19.0
31
79
2,413.9
111.7
7,595.3
326.0
15.9
1,217.7
1,587
.
8,015
3'^.l
3,1*88
28.8
Iowa
Kansas.
Kentucky.
2,1*27
26.6
25.7
Louisiana.
Maine
Maryland.
2,5't«
Massachusetts.
Michigan
Minnesota
I*,
31*9
35.0
2,661*
27.1
Mississippi.
Missouri. ..
Montana
2,227
3,800
515
7.5
23.7
29. ^
167
902
151
198.0
32.1
Nebraska
Nevada
New Hampshire.
1,21*3
26.2
^3.7
30.6
325
5'^.9
148
17.9
24.2
New Jersey.
New Mexico.
New York.
1*,2S0
1,752
2,789
.
828
1,997
.
15.0
27.6
36.0
32.1*
136
i«3
228
718
1,522
1,790
723
122.4
37."^
230
223
1,551
i*«l.3
5'4.8
620.5
"^,079.0
89.5
592.4
68.0
38.5
14.1
116
96
364.2
274.8
168.4
32.8
12.4
96.3
305.5
216
737
85
563.5
1,816.3
205.2
81.9
273.2
21.5
229
13.3
1*6
131.5
181.3
282
3U«
95.
759. "^
145
1*1*7
351
392
3,055
108.
2,9'H
6,703
15.2
Utah
577
26.1*
1,330
152
Vermont.
Virginia...
Washington.
31*2
2l*.l
S3
3,022
1,887
19.7
39.3
1,81*1
3,121
252
20.8
28.7
27.0
383
89
68
53.7
155.0
14.4
134, 2S8
27.3
36,701
8,926.7
•
7/
~
33.9
59.8
31.'*
Tennessee.
Texas
1/
4.6
4.0
3.2
713.0
254
Total.
1,171.9
1,226.1
367.7
188.0
3,t6l.3
35.7
12.6
22.2
West Virginia.
Wisconsin
Wyoming
767
703
247
61.0
106.3
21.8
32.8
71*2
.
3.7
1.2
3.6
585
2,016
.
13.2
9.1
32.7
255
103
1,291
Rhode Island.
South Carolina.
South Dakota..
,
153.4
272.9
180.2
602.3
84.4
14.4
566.6
15.9
35.8
586
19.
130
I*.
.1
.9
207
115
372
506
128
2,213
1,096
9,729
1.5
1
f-7
'*.9
ll*.2
Oklahoma
Oregon
Pennsylvania.
2
•
24; 4
10.8
7.5
8.7
3,567
2,279
1.7
266.4
210.0
287.1
12,970
,
1.1
15.3
2
ill
179
2,866
6,950
1
13
.2
.9
18.1
"t
1.7
9.0
3.5
1,3'tO.O
569.
2.0
1
5
82
"^
2
•
102.7
28,5
l*,i*79
375.
112.7
13.1
3.9
5.5
671*. 7
1,521*
North Carolina.
North Dakota.
Ohio
.
5'*7.7
234
380
35.6
15.5
3^.5
529
.
l'*.9
(In millions of
dollars)
586.8
Td
.
In thousands)
71
188
2,850
283
Idaho.
Illinois.
Indiana,
(
Defioit
210
21
9.5
37.1
25.5
.
Number
of
returns
Tax
(In millions
of dollars)
1,981
7,683
1,110
Arkansas.
California,
Colorado...
Individual returns
with no net Inoome
75. f
481.7
579
35
250
24
983
2.0
16.0
111.9
533.1
101.1
2^:1
5.7
164.4
52.7
120.7
6.3
3.5
5.1
905.3
,57.4
2,451,3
U9.4
2.2
122.3
364.7
9.0
1.0
84.9
.:!
5.0
18.8
120.6
10.8
1,634.0
1
4
i:l
1
1.2
2
1.9
•
.7
1
1.2
8
1
7.8
1.2
26
52.2
.8
118
167
175.3
291.4
i,'495
2,1*92.5
131
137
210,6
197.8
49.8
13."*
67
362.9
880.2
112.6
14.4
32.4
5.0
36
313
393
55.8
514.0
663.7
2.6
24.0
.5
.8
925.1
10.7
107.5
134.5
1*6.6
1.7
362.2
1,194.6
99.1
42.1
129.9
12.5
237
388.2
11.6
25.1
1.8
2.4
358
28
20, 432 53,173.'*
7,608.8
16,106
25.716.0 1,317.9
^21
Less than 500 returns or less than $50,000.
Estimates of the Bureau of the Census.
The net income used for classification and tabulation of
taxable fiduciary returns is the net income taxable to
the fiduciary, that is, after deducting the amount distributable to beneficiaries (item 18, p. 1, Form 104l).
Data for taxable fiduciary returns include those for
estates and trusts, filed improperly on Form lOlK), but
which have net income taxable to the fiduciary.
In
tabulating data from these taxable returns filed Improperly on Form 101*0, an adjustment Is made whereby
the 'Amount distributable to beneficiaries' (if any)
is removed from deductions and tabulated as such in
2/
k/
^
32
58l*
1:1
1.0
1.0
5.7
1.7
.9
2.5
12.0
.3
5.1
.5
163
198.6
table 3Form lOltOA (optional return), which may be filed by individuals whose gross income is from certain sources only and is
not more than |3,000, does not provide for reporting the
amount of net income. Oross Income is tabulated both as
total incoae and as net income.
Returns with no net inoome (defioit) are those wherein total
deductions equal or exceed total inoome.
For 191*2, these
data are based on a eample and not on a complete tabulation
as in prior years.
Total tax is the aggregate of normal tax, surtax, alternative tax, and the optional tax on Form 10l*0A, paid in lieu
of normal tax and surtax.
Treasury Bulletin
A- 12
Individual and Taxable Fiduciary Income Tax Returns for 1942 - (Continued)
Table 2. - Comparison by Net Irccme Classes cf Number of Returns, Net Income or Deficit,
Personal Exemption, Credit for [-^pendents. Earned Income Credit, Taxes, Average Total
Tax, and Effective Tax Rate
Net Income
clasBes 1/
(
Number
In thousands
of dollare)
of
Net
Income
returns
1/
Returns with normal Returns with
Credit
Earned
alternative
tax and aurtaix
for
Income
tax 7/
dependTotal
6/
Personal
credit
ents
tax
exemption (Individ- (IndividAlterNumber
Normal
Number
5/
ual
2/
of
tax and of re- native
ual
returns)
surtax
turns
tax
returns
returne)
i/
Taxable Individual and fiduciary returns
—
T
tax
1
"T"
1
(
Effective
tax rate
percent
Creturnf
with net
Income)
V
(In thousands of dollars)
Form lOUOA 10/ U/-- 11,291.39s 18,535.'*7o
Average
total
—2/—
thousands of
dollare)
In thousande of
dollars)
(In
»117
8.7'^7.9S^ 1.307,776 l,7'+2.335 l.317.9'+7
7.11
1?/
Forms IQlW^nd lOlU:
Under 0.5 10/
0.5 under 0.75 10/
0.75 under 1 loTV.
822, 288
29,280
462,557
718,625
355,55s
394,866
214
1.133
9.491
,2,393
47,568
71,203
t,356
21,177
55.270
102,992
762,671
822,288
^,356
21,177
55,270
14.88
4.39
7.69
under 1.25 10/..
1.25 under 1.5 10/
1.5 under 1.75 10/
800,683
1,218,170
1,'*^.331
907,816
1,674,841
2,355,399
468,788
1.074.217
1,422,710
17.3'*7
25,329
138,427
90,152
166,902
234,987
75.211
99,757
137,715
800,683
1,218,170
1, '+'+'+, 331
75.211
99.757
137,715
6.28
5.96
5. 85
1.75 under 2 10/.
S under 2.25 IS/-.^10
2.25 under 2.^10/
1,567,3'W
I.553.'w4
1,377,853
2,942,164
3.295.632
3.266.959
1,623,536
l,664,oS5
1,504,92s
264,013
373,293
413,159
293,698
329,090
326,254
183,330
218,955
236,919
1.567,3'tO
183. 330
1.553.404
1,377.853
218,955
236,919
l4l
172
6.23
6.64
7.25
W
1,136,17s
2.978,285
3,073,061
5,421.259
1,264,274
1,186,004
1.856.097
376,409
368,197
602 848
297,388
306,897
535,639
236,842
271.177
536,033
1,136,17s
1,068,425
1,681,188
236,842
271.177
536.033
208
254
319
7-95
S.S2
9.89
3.372.S30
2.108,168
1,462,694
989,590
537.377
332,54s
Jl^.JlJ
mm
m-M
198,694
11. 19
198,694
906,118
498,822
309,573
416
105,458
325,722
197,521
132,510
642
It
12.54
13.58
338,149
187,762
124,960
110,727
61,271
40,786
149,052
93,188
6s,2S7
263,692
197,715
165,895
323,540
183.585
123.043
19?, 715
165,895
815
1,07?
1,348
16:1^
18. 06
144,382
1
2.5 under 2.75
2.75 under J 10/
3 under 3.5 10/
3.5 under
under
906,118
W.
lo/.
4.5 under 5
1,068, l)-25
1,681,188
10/.
It
4 under '*.5
102,992
762,671
1*98,822
309.573
5,'*70
,
177. 969
263,692
.
323.5'to
• •
183.585
,
l23,oM.3
1,761,932
1,186,693
918,776
under 9.
under 10..
10 under 11..
87,769
67,848
52,329
744,049
643,002
548,472
36,370
68,142
52,287
28,603
22,352
17,079
52,826
44,352
36,697
132,4165
119 723
87.769
67,848
52,329
144,382
132,465
119,723
1,645
1,952
2,288
19.40
20.60
21.83
11 under 12.
12 under I3..
13 under li...
1+2,058
482,970
426,550
360,344
42,025
33,841
28,035
13,896
11,111
9,359
31,490
27,025
23,849
110,856
102,921
95,808
42,058
34,164
28,200
110,856
102,921
95,808
2,636
3,013
3,397
22.95
24.13
25.19
23,949
77,237
41,096
7,996
25,628
13.857
21,058
69.742
38.729
91,471
l,342!w4
24,015
77.677
39,201
91.471
392.206
71+5
260
2,257
1,671
17.800
3,80?
5,054
7.635
26.2?
2?,34
34.25
24,479
26,060
8,146
8,652
13,3'*3
'*,531
23.882
26,289
14,231
261,071
394,218
292,673
23,000
23,95?
11,994
241,468
355,276
257,311
1,866
2,638
1,680
19,603
38.9^2
35,562
10,499
14,822
21,418
36.46
43.12
48.09
2,551
1.620
1,033
8,733
5,556
3.711
225,323
172,552
138.524
6,886
4,163
2,719
195.
91+7
148,926
118,182
1,063
684
488
29.376
23,626
20,342
28,346
35,600
43,194
51.92
55.04
57.76
2.528
1,843
4,^70
111,105
1,828
1.335
2,902
93.696
79.481
233.970
355
272
683
17,409
15,376
52,434
50,896
59,027
79,890
60.08
62.20
66.40
1.339
600
305
l'+1.537
87.670
58,487
405
214
109,400
67.713
45,784
264
130
67
32,137
19,956
12,703
121,075
163,668
206,137
71.06
73.80
76.30
70,507
51,963
68,653
194
102
53.190
36.490
44, 260
58
17,318
15,473
24.393
265,065
38
470,223
77.65
78,66
77.86
24,^67
10,497
4,701
18
10.609
663 ,'698
8. 099
?78,749
6,882 i,W-7,932
79.61
62.95
81.37
7.301
1.795
10.275
4,512
1,825,251
2,393,172
2,772.773
4,607,746
77.04
65.03
63,32
82.28
m^52X
322
13.31
5
6.
6 under 7*
7
under
S
9
S.
,
.
.
.
164
28,200
31*,
Ik under I5.
15 under 20.
20 under 25.
2M-,015
25 under 30.
678,822
914,160
609,010
imi
30 under
W.
under
50.
24,866
26,597
13.674
llO
924,251
50 under 60.
7,91+9
'33,?t-5
7,811
60 under 7070 under 80.
4,847
3'. 207
313.475
239,809
3.086
60 under 90.
90 under 100.
100 under 150
2,183
1.607
3.585
184,925
152,498
2.106
1.580
657
542
'+31,523
5. "+37
1.109
150 under 200
200 under 250
250 under 300
1.169
535
£81
199,179
118,799
76,657
1,122
522
25s
383
300 under 1*00
400 under 500
500 under 750
266
149
146
90,798
66,059
88,176
258
294
165
131
139
'+,725
9'*.S57
286,405
750 under 1,000...
1,000 under 1,500.
1,500 under 2,000.
44,163
22,418
14,236
35,176
18,596
11.583
2,000 under 3,000.
3,000 under 1,000.
tJ.OOO under 5,000.
5,000 and over.
9,'+77
7,360
21,895
11,200
7.301
1,786
13,864
9.215
.
.
Total taxable returns
298,
9
5
2,991
4;
704
27.718. ;^4 67.060.862 24.623.941 ^.915,727 5.850.335 8.926.712 16.414.190 7.165.172 12.946
(Continued on following page)
3'+S,7'+3
—
April
1
A-13
1945
Individual and Taxable Fiduciary Income Tax Returns for 1042 - ((Continued)
Table 2. - Comparison by Net Income Classes of Number of Returns, Net Income or Deficit,
Personal Exemption, Credit for Dependents, Earned Income Credit, Taxes, Average Total
Tax, and Effective Tax Rate - (Continued)
Credit
Net Income
olBeeee 1/
Number
of
(In thousands
of dollars)
returns
Net
Income
for
dependents
(Individual
returns)
Fereonal
exemption
1/
2/
—U
Retume with normal
Earned
Income
credit
(Individual
returne)
Total
tax
5/
tax and eurtax
6/
Number
Normal
tax and
of
returns
surtax
Returns with
alternative
tapi
7/
Number Alterof re- native
turns
tax
Average
total
tax
8/
Effeo
tlve
tax rate
percent
(retumi
with net
income)
-2/—
——
Nontaxable Individual returns
1
'
1
r
'
(In thousands of dollars)
With net income:
Form lOUOA 10/ 11/
7,180,1*98
5,'*76,763
3,6oi*,819
269,^19
191,562
1*85,861
J13.8i*7
551,291*
1*1,1*90
1*28,91(4
under 1.25 iO/C.
1.25 under 1.5i2/
1.5 under 1.75TO/'
969,029
1,01*2,11*0
707,67'*
613,896
666,350
1.75 under 2 10/.
2 under 2.25 10/.
2.25 under 2.flo/
625,896
1*0 1*,
2.5 under 2.7510/
2.75 under 3 iffiT
J under 3.5 Ig/..
111,381*
Form loUo: 12/
Under 0.5"Tb/.
0.5 under O.75IO,
0.75 under 1 10/
1
3.5 under k 10/..
k under k.^ To/..
It.
5
under 5 W/..
Total returns
with net income
With no net Income,
Form lOlW 10/ Ifi/..
Total nontaxable returns
•
1/
2/
^
li/
V
368,01*9
132,170
671*,
56,233
2,051
.1.696
91*, 084.
3,1*98
1*98,621
155.782
273,982
286,999
8,272
5,852
6,065
528
206,819
66,618
296,61*0
203,296
85.763
i*.9l6
3.51'*
70,033
^6.335
1*9,930
936
637
639
16,570
2,711
875
5.397
774
223
12,1*57
87
2,196
692
10
8,819,059 11,828,500
9,773.070
5,280,732
«
711*,
252
198,59SiV
16/
16/
16/
8,982,195 11,629,902JJ/
16/
16/
16/
163,136
LeBB than 1500.
The net income used for olaself Icatlon and tabulation of
teucable fiduciary returns le the net income taxable to
the fiduciary, that le, after deducting the amount distributable to beneflolarles (item 18, p. 1. Form lOl^l).
Data for taxable fiduciary returns include those for
estates and trusts, filed improperly on Form lOUo, but
In
which have net income taxable to the fiduciary.
tabulating data from these taxable returns filed improperly on Form 10^, an adjustment le made whereby
the "Amount distributable to beneficiaries" (if any) la
removed from deductions and tabulated as such In table J,
For 19^2, the personal exemption allowed a person who,
during the entire taxable year, was the head of a family or wae married and living with husband or wife Ib
reduced from $1,500 to 41,200 and that of a single person, a married person not living with husband or wife,
and an estate Is reduced from 8750 to I500. A trust Is
allowed, in lieu of personal exemption, a credit of
The personal exemption tabu$100 against net Income.
lated for individual returns. Form lOUOA, le aecertalned from the taxpayer's status which is indicated on
the return.
For IS'+S, the credit for a dependent is reduced from
t^O to $350 for Individuals filing on Form lOU-0 and
from $UO0 to S355 for individuals filing on Form lO^+OA.
There remains in effect the provision that, in the case
of a taxpayer who is head of a family only by reason of
one or more dependents for whom he would be entitled to
credit, the credit is allowed for each of such dependents, except one.
Earned Income credit Is 10^ of earned net Income (not
to exceed |1U,000) or 10S< of net Income, whichever Is
The credit tabulated for the optional resmaller.
turns. Form lOUOA, Is estimated at 9.M of gross income (equivalent to 10)1 of the Income after deductions
aggregating SJL of gross Income).
Total tax Is the aggregate of normal tax, surtax, altematlve tax, and the optional tax on Form lOUoA, paid
lollare)
1,112
51,622
29,137
25,529
IS5
In thou
Bande of
dollar b)
967
69,310
68,059
k,
(In thouBands of
6/
]/
S/
^
10/
Tl/
12/
Ij/
IV
15/
±2/
IJ/
In lieu of normal tax and surtax.
Normal tax and surtax are reported on (1) returns with
neither a net gain nor a net lose from sales or exchanges of capital assets, (2) returns with a net gain
from such transactions, unless the alternative tax Ib
Imposed, and (3) returns with a net loss from similar
transactions.
The alternative tax Is report-^d on returns showing an
excess of net long-term capital gain over net short-term
capital loss, but only If such tax le lees than the
combined normal tax and surtax computed on net Income
which Includes the net ?aln from Bales or exchanges of
canltal assets. For 19^2, the alternative tax is the
Bum of a partial tax (normal tax and surtax) coaputed
on net Income reduced for this purpose by the excess
of net long-term capital gain over the net short-term
canltal lose, and 50^ of such excess.
Represents total tax divided by number of returns.
Represents total tax divided by net Income,
Estimated.
Form lOUOA (optional return), 1*1 Ich may be filed bj
Individuals whose gross Income Is from certain souroes
only and la not more than $3,000, does not provide for
reporting the amount of net Income, Grose income is
tabulated both as total Income and as net Income.
Throughout this article, the tabulatlone for form lOUo
Include figures for Form lOUoB, returns of nonresident
aliens with business within the United States.
Nontaxable returne with net Income on which personal
exemption, credit for dependents, and earned Incaae
credit exceed net Income.
Returns with no net Income (deficit) are those wherein
For
total deductions equal or exceed total Incooe,
19^2, these data are based on a sample and not on a
complete tabulation ae in prior years.
Deficit,
Not available.
Net Income leae deficit.
Treasury Bulletin
A-11+
Individual and Taxable Fiduciary Income Tax Returns for 1042 (Continued)
Table 3. - Comparison by Taxable and Nontaxable Returns
of Amount of Each
Specified Source of Income and Deduction
(In millions of dollars)
Taxable
fiduciary
returns
Total
Soureea of Income:
Salaries and other compensation
Dividends from domestic and foreign corporations 'i/
Interest: 2/
Bank deposits, notes, mortgagee, corporation bonde,
uovernment obligations:
Partially tax-exempt 4/
Taxable
',]
Dividends on share accounts In Federal eavlnge
and loan associations 6/
'..'.'.'''
Rents and royalties
!.'!!.'!!"!.'
Annuities
Net gain from sales of capital assets
J/
Net gain from property other than capital
assets's/
Business profit 2/
Partnership profit 10/
Income from fiduciaries 11/
!!.!!.'."!!.'.'
Other Income 12/
!!![!!!!!!!
Total Income
'
65,617
3.123 i/
291
930 i/
K
2/
86
V
Deductions:
13/
Net loss from sale* of capital assets 7/ IV.
Net loss from sales of property other than
capital assets 8/
Business loss 2/
!
Partnership loss 10/
Contributions 15
Interest paid
Taxes paid 16/
Losses from fire, storm. etc. 16/ 12/.
Bad debts 16/
Medical and de/ital expenses IS/.
Other deductions 12/
Total deductions Ij/
Amount distributable to benef iolarles.
Net income 13/
1
.
.
]
1
!
!
i
!
]
!
i
i
if6
^
10,21*0
108 2/
66
776 2/
88 2/
9
70 2/
7
2/
5
36 2/
5
2/
18 2/
1,522
116 2/
1*06
2/
•^5
2
9.310
3.509
55.378
Nontaxable
2,721* 2/
•
62
19 2/
'III
Individual returns
Taxable
3"^
30I*
,51
7.430
1 2/
25 2/
20
10
1,846
93
IV
2?
16
11
3.385
754
521
112
86,630
573
73.081*
12,974
13
257
209
123
307
61
62
132
174
24
131
15s
,57
33
1,1^50
1,168
2,148
9
22
194
656
1,238
7.731
209
78,691
1,320
1,001
1,871
l4o
_65_
%
'>^
53"^
122
931
6.323
279
,344
66,761
11,630
209
300
•
!••• than $500,000.
1/ Eivldend. recolved Include dlvldsnda on share accounts In federal eavInga and loan aeeociatlone Issued on or after March
28, igUZ, but exclude such dividends on prior Issues and dividends
of all kinds received through partnerships and fiduciaries,
2/ Pons loUOA income from this eource !• included In "Other Income".
2/ Interest received from honds is the net amount after deducting the
amortliable bond prenlul for the taxable year. This deduction
vae
not made against Interest In former years,
Partially tax-exempt Interest Is that received on certain
1*/
dovemmeot
obligations issued prior to March 1, 191*1, nanely, United
States savings bonde and Treasury bonde owned In excess of
$5,000. and obligations of instrumentalities of the United States other
than those 1»sued under the Federal Jara Loan Act or that let as
amended. This
interest Is subject to surtax only.
The amount reported Includes
such Intereet received through partnerships and fiduciaries.
5/ Taxable Intereet on Oovernment obligations is that received on Treasury notes issued on or after December 1, I9U0, and
on obllgatlone of
the United States or any agency or instrumentality
thereof, leeued on
or after March 1, igltl. Thle intereet le subject
to both noraal tax
and surtax. The amount reported excludee such
Interest received
through partnerships and fiduciaries.
6/ Dividends on share accounts In Federal savings and loan associations
are only those on shares Issued prior to March
28, iqUs, and include
such dividends received through partnerships and
flduclarlee. These
dividends are subject to surtax only. Dividends on
shares Issued on
and after that date are reported with dlvldendo received
from corpo*^
rate Steele.
II The amount reported as net gain or loss from salee or exchanges of
capital assets is the amount taken into account
In computing net income and Is a combination of short-term and long-term
capital gain,
and lessee, worthless stocks and bonds which are
capital assets and
each participant's share of capital gains and leasee
to be taken Into
account from partnerships and common trust
funds; also the net shortterm capital lose of the preceding taxable year
(not In excess of net
income for such year) has been deducted but
only to the extent of net
short-term capital gain of the current year.
Real property used In
the trade or business of the taxpayer Is
not a capital asset for 19U2.
i/ Set gain or loss from the sales of property other than capital assetsi
11) property used in trade or business of a character which
Is subject
to the allowance for depreciation,
(2) obligations of the United States
or any of Its possessions, a State or Territory or
any political eubdlvislon thereof, or the District of Columbia.
Issued on or after
March I, 19UI, on a discount basis and payable
without Interest at a
fixed maturity date not exceeding one year
from date of Issue, and
13) real property used In trade or business.
2/ Current year net profit or loss from buslnees or profession (sole
proprietorship).
(Met operating lose deduction Is reported In
"Other
aeductioDs".
10/ Partnership profit or loss, as reported on the Income
tax return of
the partner, exclude. (1) partially tax-exempt
Interest on Oovernment
obligations, and (2) net gain or loss from sales
or exchanges of capital assets, each of which is reported In
Itare.pectlve source of Income or deduction, and (3) dividends on share
accmmte In Tedaral
savings and loan association, ianed prior
to March 28, 191*2, uhlch
are reported In the .chedule for Interest on
Oovernment obllj»tlon.
but are tabulated separately.
In computing partnership profit or
loss, charitable contributions are not deductible
nor Is the net operating loss deduction allowed. However, the pro rata
share of contributions and prior year Income and ioases of the partnership
is
taken Into account by each partner In determining his own
contrlbo.
tlons and net operating loss deduction, re.peetlvely.
il/ Income from fiduciaries, as reported on the Income tax return of the
heneflclary. excludee (l) partially tsx-exempt Interest
on Oovernment
obligations, and (2) net gain or loss from sales or exchanges
of capital assets received from common trust funde, each
of which Is reported In Its respective eource of Income or deduction, and
(3) dividend, on share accounts In Federal eavlnge end loan
aesoclatlons
issued prior to March 28, 1942, which are reported
In the echedule
for Interest on Oovernment obligations but are
tabulated separately.
The net operating loss deduction Is allowed
to estate, and trust,
generally, and Is deducted In computing the net Income
to be distributed.
In the case of a common truet fund, however,
this deduction Is not allowed, but esch part iclpant ' e ehare
of prior year Income and losses of the fund lo taken into
account In determining his
own net operating loss deduction.
12/ Other Income Include, alimony received, earnings of minora,
prises,
eweepetakee, gambling proflte, etc. The amount of
dividend.. Interest, and annuities reported In one sum on the
individual returns
Form 1040A. Is tabulated as other Income.
ii/ Foni 1040A (optional return), which may be filed by Indlvlduaie whoee
gross Income le from certain sources only and Is not more
than $1,000,
doe. not provide for reporting the amount of net Income.
Therefore
no deductions are shown for Form lo4oA.
Bet Income Is the sum of (1)
net Income on Form lo4o. (2) groee Income on Form
lo4oA. and (3) the
net Income taxable to the fiduciary on Form 104l,
14/ A net loss from salee or exchangee of capital assets le
allowed only
to the extent of the net Income computed
without regard to capital
gains and losses, or $1,000, whichever is smaller.
(Thle limitation
doe. not apply to return, with fl.cal
year, ending In the period July
through November 1942,
Contribution.
Include each partner'o share of the charitable contrl15/
butlone made by the partnership of which he Is a member.
16/ Such deductions exclude amounts reported In the schedules
for (I)
rents and royalties, and (2) buaineee or profession.
11/ Losses from fire, storm, shipwreck, or other caanalty, or from theft,
not compensated for by Insurance or othervlee.
12/
Medical and dental expenses paid for care of taxpayer, his
wife, or
a dependent, not compeneat.d for by inmirance
or otherwlee, which exceed 5;l of the net income computed without the deduction. This
deduction is limited to $2,500 in the case of a hueband and wife who
file a Joint return, or a head of a family, and
to $1,250 for all
other indlvUuals. Medical expenees were not allowed
as a deduction
In former years.
Other deductions Include alimony paid, net operating loss dsductlon,
expenses incurred for the management and maintenance of property
held
for the production of taxable income, etc. The current
year net lose
from rente and royaltle. reported In sources of Income is
tabulated
in other deductlone.
In table 3 the amounts include loeses from fire,
storm, etc., and bad dabte not compensated for by insurance
or otherwise, reported on fiduciary return..
April
1945
SUMMARY
OF
FISCAL
STATISTICS
Treasury Bulletin
Budgetary Receipts and Expenditures
doUart)
(In nlllloat of
Tlrst 8 moDtha.
Coifilete fiscal years, 191*3 to I9I16
flKal 7aer« l^J to IS^
Istioated 1/
Actual
Chases
ChaZLge
19U3
I9W
19UU
191*5
to
191*2
19U5
191*3
ictual Istlmated
to
191*5 to
estimated estimated
191(1*
19UI*
191*5
191*6
191*5
i/
191*6 1/
Raeelpts:
Internal revenuei
7.960
l6,09U
655
35,056
31,022
*ll01
-»*,03i*
1,1*98
1.739
1.791*
2,056
+55
+262
+1,223
3.8U7
It.
553
5.291
6,551
6,520
1,260
-31
220
-65
389
32U
U3I
326
326
-105
•
2,286
1.911
-371*
286
916
3.292
3,296
2,930
U
-366
26,210
28,551
2,31*1
13,668
23.335
1*5,1(08
1*7,023
1*2,855
l,6lU
-l*,l68
869
1.103
1,260
1.293
1,600
3U
307
2,3U5
12.799
22.282
1*11,11*9
1*5.730
1*1.255
1.581
-U.U75
5.617
18,860
20,l40lt
1,06U
1,226
1.238
3,121
3.551*
U,777
Customs
190
28U
Other receipts U/
320
10,312
Miscellaneous Internal reTenua
^
Total rsoelpts
LSW
1,186
Income and profits taxes 2/
SaplOTinant taxes
31*.
LSBSI
Amounts transferred to Tederal Old-Age
and SunrlTors Insurancs Trust Tund ^.
799
918
913
9.513
25,292
27.637
War Department
27.272
32,181
32.31*3
+161
ll*,070
1*2,265
1*9,21*2
1*8,1*97
38,999
-71*5
-9.1*98
Navy Department
11.503
16,822
19.983
3.161
8,580
20,888
26,538
27.900
22,000
+1.362
-5.900
5.056
7.517
6.325
-1.192
3.362
«.955
U,259
10,1*69
7.003
-790
-3.1*66
1,131*
1.398
l,13l(
+261(
Set receipts
Sxpendlturssl
^
Var actlTltlas:
Miscellaneous war actlTltles
Anticipated si^iplemental ^proprlatlone.
Total war activities
Veterans
'
Administration Jj
Puhlic works 8/
26,011
72,109
87.039
88,000
69,1100
961
-18. 600
+I1O0
556
602
730
1,290
2.705
+561
l.Ull*
-83
680
51*3
1*33
Wl
336
28
-125
1*3,830
56, $21
58,651
+2,130
>I02
>tS2
822
233
395
316
t
Aid to agriculture ^J
7l(U
557
267
-290
1,225
1,163
909
632
57U
-277
-58
Social security program 10/
550
602
620
18
659
735
8O3
871
765
68
-106
261
16
-16
97011/
299
17
-U
•
•
163
18
•
131*
1,06«
1,068
+931*
873
901
1.070
2,21*9
2.835
,180
+586
3.750
l*,500
.11*1
+750
590
3^7
590
-2U3
-16, 382
Vorlc
Projects Administration
Civilian Conserratlon Corps
Excess profits tax refund honds 12/.
Other 12/
Interest on the public debt
2
611
8O6
76i(
1.21*3
1*1*8
1*1(6
1,272
+508
1,775
+531
1.260
2.609
Antlclpatod supplemental appropriations.
-17
Total expenditures 6/
1*7.597
60,1*1*3
61*,088
3.61*5
32.397
78.179
93.7i*l»
98,912
82.530
5 ,169
Het budgetary deficit 6/.
38.085
35.151
36.1*51
+1.299
19.598
55.897
1*9.595
53.183
1*1,276
3.588 -11,907
Source!
1/
5/
Actual roceipti and w^emUtureB come from Ikalljr treaaiiiy Statemente; aource of eitlmated figures le explained in footnote 1.
Lets than $500,000.
Baeed t^od ettlBatee as ehovn In the l$k6 Budget. Claselflcatlone
herein are haeed iq)0D data vasceptl'ble of segregation according to
Daily Treasury Statements and will not necessarily agree vith elaaelfications in Budget dooument.
Includes unjuet enrichment tax and taxes withheld \)j employers under
l3otfa the BeTenue Act of ISkZ and the Current Tax Payment Act of 19^3*
Tor details see following chapter on Beceipts and l^endlturee and
AppropriatioDS, Table 2.
locludes chiefly alcoholic boTerage taxes, tobacco taxes, manofaoturers' and retailer*' excise taxes, and estate taxes.
Includes deposits resulting from the renftgotiation of war contracte.
Information on the amount of such depoelts is not arailabls on the
hasls of Dally Treaeury Statements. On the 1)8818 of corering warfiscal year 19^3< $358 milrants, such deposits were as follows:
lions; fiscal year I9UU, $2,235 millions, of »*bich $113 nillllone
represented a Toluntary return of excess profits* Budget estimates
of such d^osits for the fiscal year I9U3 are $1,685 millions, and
for the fiscal year 19U6, $952 millions.
Tor e^lanation. see tables in next chq)ter on Social security program.
6/
jJ
S/
Xxeludee expenditures for public debt retireaents which are chargeable to the sinking fund, etc. under special proTlslons of law.
Includoe expenditurea classified as transfers to trust accounts,
etc., for the Adjuated Serrlee Certificate fund and the Ihtional
Serrlce Life Invurance TOnd.
Indiidee Public works transactions claseifled as HerrolTlng Tnndt
(net).
2/
Includes Aid to agriculture traneaetions classified as BevolTlng
Tonds (net); e:q)endltureB of the Department of Agriculture classified as Departmental in the Ihdly Treasury Statement; and Office of
Distribution transactions claeslfied ae transfers to trust accounts,
etc.
10/
U/
12/
12/
Includee expenditures classified as transfers to truAt accounts, etc.
for the Ballroad Retirement Account and the Railroad Unes^loyment
Insurance AdnlnlBtratlon Tund. Excludes expenditurjse made by Office
for Ikiergency Management, Var Manpower Commission (U. S. Employment
Serrlee) under authority of the Social Security Act.
Includee H&tional Touth Adminietratlon.
Represents transfers to public debt accounts for excese profits tax
refund bonds.
Includes departmental expenditures not otherwise claaeified and expenditurea classified ae transfers to trust accounts, etc., for Ootemaent eofiloyee retirement and insurance funds.
April
1945
Public Debt and Guaranteed Obligations Outstanding
(la mllllone of dollars)
TreasuT}! Bulletin
AND EXPENDITURES
AND
APPRO PRI AT IONS
RECEIPTS
.
.
.
April
1945
Budgetary Receipts and Bxpenditures
Table 1«- Sumoary by Major ClaBslficatlons
(In
alUioae of doUari)
&ee«lpt«
Oroit receipts
71 seal 70ar
or EDOotb
Totml
receipts
Internal
rerenue
2/
19351936.
1937.
193s.
1939.
3.SOO
19'iO.
5.925
S.269
13.G68
85
U5!U08
08
3.278
3.513
U.597
i.ns
5.29"*
6.aUa
5.671*
5.161
5.303
7.362
12.993
Bq>eadltiiree 1/
PuMlo
Less net anounts
transferred to
Teaeral Old-AfS
Ket
Other
and SorrlTora
receipts
receipts Insoranoe Trust
Total
expend-
Geaeral
itxiree
i/
3.800
7.010
8,666
8.177
7.239
8,707
8.998
12.711
32.397
78.179
93. 7W*
5.900
5.935
5.029
5.855
5.165
5.387
7.607
12.799
22.282
Wt.iUg
3112
ii,ll6
265
387
503
m
3I19
22.lltl|
392
389
32k
Ul,685
l>31
869
1.103
1.260
2.U6U
6.353
35
Us
250
2
2.503
6.573
7.862
8.525
2.935
3.02U
39
3«
28
306
3,087
2,
2.950
5.73't
2
'.2U7
6.
7.859
8,292
8.625
1.985
2. 702
5.7U9
28
23
25
1«
Sept eat sr.
2,212
2.«59
5.927
891
1
2.163
2.568
5.926
8,110
8.119
7.930
October.
KoTember.
December.
2.05U
2.506
5.U18
1.880
2.300
U,9U5
29
27
29
2,W1
8.02>l
265
2,2ltO
2
5.U16
7.828
8,Ul6
19U5-Jaiinar7..
3.5«7
3.987
3.0112
36
23
31
220
3.556
3.767
19'»3.
19W.
19Wi-r*bni«i7.
March
April.
2.1^
6.576
3.119
June..
July
August
.
February
Soiarce:
•
1/
3^
?y
3/
.
3.815
(net)
5/
etc.
d»1>t
ntlr*daflolt
m*nti
1/
5/
2/
3l'3
359
319
Transfer I
BeTolTln£
to trust
funds
aoeoiuts,
6/
liind
^6
Var mctlTltlai
Dallj Treanry Stateaentt.
Leas than $500,000.
Xzcludei asounte for public debt retlreaent which are cbarceable to
the alDklD^ fund, etc, under special prOTlelons of lav.
Tor further detail*, tee Table 2.
For explanation aee tables vhloh follov on the Soolal Security program.
7or further details, see Table 3.
Tor further details, see Table U.
Tor further details, see Table 3. Also sss footnotes 3 and U.
Total expenditures less net receipts.
Represents e^endltures for public debt retlreosnts vhlch are charge
able to the slnklog fund, etc. under special prorislons of lav.
Auh reIncludes recorerles of U. 3. Investmsnts In coital funds.
10/
11/
6. "137
5.86lt
7.221
7.055
^;9"8i^
5.595
6.188
689
900
929
1.029
1,206
1.657
6,301
26.011
72.109
87.039
3^
11
20U
121
92
-13610/
"9
3.
1.3811
3.5U2
3.611
5.103
19.598
55.897
49.595
331
l|0
-39
556
7.5I8
7.726
-3
-3
5
795
"•79
7.3'>6
-6
7.879
7.567
HO
26
i»
U,772
3«7
"51
57
5.9't7
911
7.201
7.571
6.998
22
5.551
2.00U
7.>t79
»95
T.UOl
7.503
U7
18
22
6.023
5.587
2.999
6!9U8
69
Ue
U.euij
5g
1,018
inw
>I92
57U
11.550
18
8,202
7. '•60
3.209
76
1,820
608
225
187
232
loi
65
58
^3
€k
95
3
5.359
1.952
7
5.3'<2
2.378
3.693
ooverles totaled ^k millions In tbe fiscal 7«ar 19>«0: $319 Billions in tbe fiscal year I9UI; |18 Billions in ths fiscal yaar
19U2; and $10 millions in the flsoal 7«u^ 19^3*
Seoelpts from reductions in coital stock azid paid-in i\irpltiB
aTallable to be reissued under existing lav are Included as ne^a9aoh reductions totaled $l6o miltire Items under ei^eadltures.
lions for gensral expenditures end $1^^ millions for rsTolTins
funds during the fiscal year I9U1.
Includes deposits resulting from the reuecotlatlon of var ooo^
Information on tbe amount of such dq>osits is not availtracts.
On the basis of
able on tbe basis of Ikilj Treasury Statements.
eoTarlnf varrants, such deposits were as follovsi fiscal
19)*3t $396 millions: fiscal 7Mr 19^U. $2.23^ millions, of vhloh
$113 millions represented a Toluntary return of excess profits.
JT
Table 2.- Analysis of Receipts from Internal Revenue^
(In allllons of dollars)
B^loyment taxes
Income and proflta taxes
Withheld by
esiployers (Current
Tax Payment
Act of 191*3)
riseal 7*^
or month
Soolal security taxee
Other
Total
Taderal Insurance
Contributions Act
(Old-sge
iBSttrance)
2/
1935.
1936.
19371938.
1939.
19110.
igui.
19U2.
19U3.
191A.
19Ul|-rabruu7.
March
1.099
1.099
1.1*27
I. "127
2.163
2.163
2.61)0
2.61)0
2.189
2,125
2.189
2,125
3.'*70
7.960
3.278
3.513
U.597
5.67U
5.161
5.303
7.362
12.993
22.1UU
16.091*
I1I.685
31*.
511*
530
101
150
109
833
60U
3.1*70
925
691
7.960
896
1.130
1.292
108
9«
120
158
180
121
137
170
209
267
252
U7
16,091*
,186
,U98
655
8,393
26.262
.739
2,U£lt
1.71*7
'P
67
5.911
1.137
750
610
5.161
2.935
2.1*75
560
3.0211
2.167
1,101*
5.731*
5.21*1
7U6
1.915
1.063
U.U95
July
August ....
September.
1.985
2.702
5.7U9
1.2U7
1.552
5.17U
591*
1.065
71*1
October.
BoTembar.
December.
1.880
2.300
1.21*0
1.501
609
1.035
1*66
11.91*5
i*.3'*7
7'tl
3.606
60
I.803
1.627
US
33
3U1
222
.
.
^el
•
1/
gj
3.01*2
2.1*22
3.815
2,922
619
1.295
(EaUroed
I)
Klecellaneoua
Internal
rerenoa
1.657
2.010
2,181
2.279
2.232
2.967
3.*»7
'».553
5.291
u
31*1*
59
375
1*21
39
35
309
5
65U
56
52
681
319
3
12
1
1*87
lU
832
1*.1*32
61
1
57
511*
632
60
3
11
1
580
lU
55
507
539
1
573
552
Dally Treasury Statements.
Less than 1^,000.
ror further details, sse chapter on Internal Beveoue Statistics.
Excludes rscelpt of rlctory taxes withheld pursuant to the Bevenue
Act of 19142,
Such receipts havs been classified as "Other" Incoae
and proflta taxes.
i
U
3/
4/
521
77
2.3115
337
71
2!?
Agricultural
adjuataemt
taxee
retirement)
71)0
191*
6,353
I9U5- January ..
February
rederal tlna^loyment Tax Aat
(Unemployment
iBsoranee)
Carriers' Taxing
Act of 1937
5«
90
253
755
Aprtl.
Kay...
June.
.
)jj
lii
5
Includes unjust smrlchmant tsx.
7or tbe period prior to September 1939. the data In the coluans
entitled Tederal Insurance Contributions Act and Federal CbsBployasnt Tax Act represent collections under Titles Till and IX,
rsspectlTely, of the Social Security Act.
Treasury Bulletin
Budgetary Receipts and Expenditures
-
(Ck>ntlnued)
Table 3.- Analysis of General Expenditures
(In BlllioBt of dollars)
Dlraet and vork rvllaf
Tatar ant'
?lto«l yoar
or Bonth
Total
Adialnis-
tratlon
1/
2/
Pul>lla
work!
2/
2J
Xld to
agriculture
2/
U/
Social
ooourltj
proffraa
zj 5/
Work mjtot*
Adalnlltratlon
nl Sktlonal Touth
Adaiai •tratlon
6/
5.9<io
557
578
581
582
557
679
685
803
670
900
5.986
5.595
6,188
557
553
555
572
629
890
715
669
3U2
795
52
55
^rll.
1(79
55
May...
Juno.
387
1,018
P
60
July
I158
63
laffuat....
71
3"
29
S«pt«mber.
U92
911
69
31
October..
Soveaber.
Deoeaber.
500
U12
895
70
35
25
30
1935.
1936.
1937.
193«1939.
5.935
6.UJ7
5,sSi»
7.221
19l«.
19U1.
7.055
6,
I9>ie.
19V19W.
19ltli-»«bniary.
March....
19U5-JaniULi7.
febraaiy.
as
^7^
78
75
5?
32
25
21
31
18
088
866
Todoral Itercan^ Belief
Adnlnlatratlon
and ClTll Worka
Adalnlatratlon
1/
CiTlliaa
Coaaervat Ion
Corpe
I nt are at
on tba
pnbllo
de1>t
Other
depart
mental
8/
Otber
general
expend—
Itnrea
2/
.
April
—
.
.
1945
Budgetary Receipts and Expenditures
(Continued)
-
Table 4.- Analysis of Expenditures for War Activities
(Is Billions of dollars)
Hlaeallantou* var actlTitles
War
HaTy
Depart- Departmaut
nent
TlBCal year
or month
1935
1936
1937
193s
1939
6S9
900
929
1.029
1,206
igto
1.657
6.301
26,011
72.109
37.039
ig"-!
igita
19U3
igitU
19ltl(-T«l)ra«ry.
Total
A^lcnlolsceltUTB
laneout
Departvar &crnant
tlTltlas
-a
-21
-12
-6
it32
596
673
1
1
44
44
892
2.313
8. 580
20.888
26.538
99
310
3.362
8.955
11.259
696
2.011
2.143
111
153
133
62
215
228
297
608
539
24
519
1.201
1.432
929
2.776
3.812
132
1.105
1.922
2.757
2.281
969
983
184
188
16
8
17
16
38
38
127
97
^^\
ys6
182
165
82
2.262
2.536
2.636
924
1.010
825
224
205
219
8
11
35
7
31
28
130
118
188
273
a
51
149
191
201
106
682
982
56
15
22
144
13
17
14
124
152
102
130
372
335
194
134
102
122
97
798
6
26
10
17
19
17
326
298
312
IH5
152
183
99
94
97
184
228
180
166
72
56
U90
667
3.67s
lit.070
12.265
'*9,2l*2
7.3W
U.160
7.879
7.567
U.33't
Jul7
August ....
September.
.201
.571
.998
3.928
3.905
2.591
2.502
2.295
October
HoTesber.
December..
.1*79
.MOl
U,09l
3.978
2.648
2.577
7.503
't.l9't
2. '•39
740
845
870
.
7.551
l*.29lt
February.
6,9lt«
3.866
2.539
2.392
718
690
191*5- Januaiy.
y
United
Other war
United
Hat ions
actlTiWar
Treasury States
Aid
ShipBelief
tles
and
Depart- Maritime
to
ping
Rehabili- expendiCoemlsment
China
Admin.
tation
tures
elon
Admin.
2/
U36
529
557
l».U6l
April
n«y
June
National SelectlTs
Bousing
SerTlce
Agency (adololstratlTe)
273
383
378
7.518
7.726
March
Tederal 7ed«ral
Seoirity Work!
Agency
Agency
3.792
4.106
it,o«7
-12
-6
99
62
7
5
lil'
112
9
8
102
14
147
5
a
1
UO
15
-8
14
124
17
12
6
137
-24
94
118
71
90
81
71
Departments; Cirll Serrice Commission; Sxecutire Office of the
President (including Office for Anergency Management); Panama Canal;
Includes Deand capital stock of Smaller Var Plants Corporation.
fense Aid Special Pund through the fiscal year 19^3: thereafter such
expenditures are reflected within the respective departments.
Revolving Funds and
(1)
36i;
200
40
war expenditures of Commerce. Justice. Interior. Labor, and State
Souroei
Dally Treasury Statements.
Back ngures: Monthly figures for the period July I9UO through April 19'*3
aqrpeared In the "Treasury Bulletin* for May 19^3« P^^ 7•
Less than $500,000.
Includes var public housing functions.
1/
Similar items for periods prior to fiscal year 19^1 are classified under
2/
Includes
Other departmental and Other general expenditures In Table 3*
Table 5.- Analysis of Expenditures for
108
382
795
991
51
(21
Transfers to Trust Accounts, Etc.
(In Billions of dollars)
Sevolving funds (net) 1/
fiscal year
or month
Aid to
agriculture
Transfers to trust accounts, etcTeterans'
Administration
Public
vorki
2/
3U5
19351936.
193719381939.
11
204
121
92
1940.
1941.
1942.
1941.
1944.
5i
-136
18
1944- February.
March
April.
Kay...
June.
2/
V
4/
7
59
23
11
-1
-1
21
41
557
U7
225
187
232
331
381
435
10
1
5
7
5
7
-6
-6
40
26
40
26
40
41
556
1*51
-1
-1
-4
-t
1/
-6
-159 1/
:l
-3
-2
OoTsrsaent
employees'
retirement
funds
(U. S. share)
50
1.773
-4
-3
1945-Januai7.
February.
•
101
76
1.820
6O8
-3
-3
-1
'Ca:
-«
221
134
-38
October.
VoTanber.
Cacamber.
.
204
44
40
-39
July
Au£uet ....
Septeober.
.
l4l
-33
-18
-13
Social
Security
program 5/
30
101
6
44
57
48
22
22
47
18
22
.13
146
107
73
75
121
132
145
87
93
103
107
177
2a
274
Aid to
agriculture
6/
Federal
contribution to
Dletrlct of
Columbia
(tl.
S.
etaara)
18
91
126
71
-3
35
20$
9
197
3t
18
22
69
35
48
tknlly Treaauty Stateaanta.
Uae than $500,000.
Additional traneactlona on Aid to agriculture and Public works are
ahovn in Table 3Farm Credit Admlnletration.
Public »orke Adulniitratlon.
ConpriaeB Adjusted Serrleo Certificate Fund and the Katlonal Serrice
Life Iniurance Fond, administered by the Veterans' Administration.
2/
6/
2/
Includes railroad retirement and railroad unas^loyment actlTlties.
For furthsr explanations see tables vhich follow on Social Security
program.
Office of DlstrlbutiOQ (formerly Agricultural Markstlng Administration) - surplus commodity stamps.
Oross axpendituree hare bean reduced $155 lllions rapreeentlag tba
repayvent of capital funds by certain Onitad States Ooremment
agenciee.
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 6.- Totals by Months, Beginning with 1936
(In Blllloaa of dollu>f
Calendar 7««x
Jam
May
Tat.
J^ma
Bat ^ud^fitary raealpta
1936.
1937.
1938.
23?
29«
19110.
271
J15
igin.
3ltO
19'»2.
578
788
1959.
19W.
2,7>>7
19'15.
3,556
July
*>)«•
Sapt.
Oet.
»12
f1
Ult9
678
272
292
300
372
279
29lt
752
967
916
262
367
687
799
X.566
MOO
557
6K9
265
}0«
565
>9li
1,276
W3
397
676
711
1,135
3.5't7
695
2,1492
'•.569
7U7
2,007
2,163
a.5S7
l,5l't
565
;,ugo
2,950
587
5,206
6.573
2,m
5,W7
2,56b
5,926
607
2,030
2,001
57U
517
t45
676
632
718
677
565
T37
7U1
758
955
2.503
3.767
31."
3,087
^56
290
373
Total
517
823
672
'».372
286
350
36U
521
1.918
7ito
5.83"*
8.81*9
^
218
230
308
231
Dae.
529
828
367
273
77'->
1*1*7
6,2U7
233
56k
1,212
601
2,099
2,701
5.736
5.1U6
2,2ll0
5.798
5.650
l6,ll01
3'1,55'i
iil*.ll21
Bud^tary arpaodlturaa z/
Ueo
1936.
1937.
1933.
C7U
636
766
705
631
S92
1939.
I9IW.
19U1.
6k6
712
1,111
612
668
1.075
820
322
1,399
730
783
I9U2.
I9U3.
2,628
6,372
7,570
8,202
2,629
6,119
7,862
8,525
521
51*6
igW.
19'»5.
6gS
SlU
^66
656
635
725
77l»
818
1,598
706
75?
.315
895
8»7
1,528
76U
.lUl
l,5i=9
1,87't
721
869
2.083
817
1.858
3,l»21
3,753
3.953
!».530
7,35>*
7,l»66
7.'*35
T.859
8,292
5,160
7,112
8,110
5,215
7,617
8,115
5.931
7.535
7,930
5.?37
7.U56
8.02U
6.363
7.839
7.828
362
268
251
105
195
-115
1*51
liO
273
137
331
171
296
339
237
I199
1*08
65
1*112
1*37
li8
U32
3.967
3.823
1,185
739
536
1,637
281*
I155
252
258
1.133
1,29'*
1,329
10. 2011
2.037
3.758
2,378
1*,1.13
U.628
3.I101*
5,331
5,761
5.105
11,896
2.087
5,«6
5,7l«>
5,9'»7
5.551
2,00l*
6,023
5.587
3,799
1.716
2.999
39.618
53.530
52.737
2,1.27
8.625
293
300
1939.
19U1.
385
398
771
19IW.
2,050
5,58U
U.g23
19't5.
14.61*3
198
19110.
Source:
1/
716
6I1S
635
9.
7.75''
830
8.097
832
1.172
2.5'«
8.885
9.657
19.053
6.500
7,452
8,ltl6
56,020
88.08U
97.158
199
11.872
7,1(*>
Bet tudcetary deficit
1936.
1937.
1938.
aw
1.253
930
695
631
262
316
166
-116
-200
-212
•1*00
1*30
377
569
221*
21*5
22l»
132
22
-167
517
750
2U7
7U7
-126
3,058
;,952
ft, 772
3,391
5,955
5,3'«
53'*
1.871
5,l6U
5,}59
3,093
2,11*7
1,952
1*79
Dally Treaeury Statemente.
Tot^&l recelDte loss cat amoontd traaeferred to 7ederal
Old-ige and Surrlrors Inaurance Trust Fund.
193
3W
1.898
U25
156
2/
^
y
177
Kxolndat public debt retlraaentt.
Total "zpandltureo leae net raealpta.
-U8
157
April
1945
BUDGETARY RECEIPTS AND EXPENDITURES
1940
1941
1942
1945
1944
1943
DOLLARS
DOLLARS
Billlont
JMMJSNJMMJSNJMMJSNJMMJSNJMM'JSNJMMJSN
JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN
JMMJSNJMMJSN JMMJSNJMMJSNJMMJSN
I
-I
J
M M
J
1940
S
N
1941
1942
I
I
I
I
I
I
I
1943
I
I
I
ill
I
I
I
I
I
I
I
1944
I
I
I
I
II
I
I
I
I
I
I
I
1945
I
I
I
I
i-i
Treasury Bulletin
10
Trust Accounts, Etc. Receipts and Expenditures
Table 1.- Trust Funds
(In millions of dollari)
riK«l year
or Bonth
Tadaral Old-iga and
SoTTlTori Insuranca
Truat fond
Total
trutt funds,
n«t racalpts («)
or nat azpaadl-
Zipandlturas
Bacalpts
tttraa (-)
Sat
Ratlreeient Account
Xzpandlturaa
Racalpta
Other
truat accounts 1/
Railroad
Unemploynent
Truat Fund
Racalpta
Sipandlturaa
*6U
*6k
1935193619371938.
1939.
3U
19
11
29
+1
19'tO.
37
3
19'»l.
+37
1
267
>t02
530
lUg
6
580
717
9M0
1.190
1.363
10
+9
+6
267
MOl
529
577
707
931
.185
.357
959
l.llU
I.ZUU
957
1,118
-2
+11
123
127
125
116
lUi»
399
567
l.lWU
u
l,56lt
-2
221
273
-3
-3
26U
267
k6
lA
278
+1
-It
•
-6
250
116
3
161
i^rll.
Max...
Juna..
120
282
289
-313
'?
306
102
16
17
UlU
+9
-8
-355
July
•102
+1.5
282
5
Aiicnat ....
+U
-lU
Septaatar.
-308
+273
-293
U9
291
Octo^ar.
HoTasbar
Dacanbar.
257
+2U6
265
-282
-305
80
29
+338
+200
•
1/
1,
3
-15«
cai
751
1U6
107
13U
18
298
763
1U8
109
-201
5
29U
+2
+2
150
15
29U
837
+12
+1
March....
I9'l9-Januar7.
rabruaiT.
3t
20
19
66
92
19U2.
19U1.
19Wt.
Eeeelpts
1,
1.2't3
U3
2
'I
286
101
103
51
295
37
-2
5
253
38
28
283
38
36
220
7
19
98
212
227
17
-ll»
+lltl
961
1.853
19
121
-Ul
9U
102
135
95
202
179
231
108
178
275
UI5
216
162
362
198
17U
206
225
182
15?
186
159
251
250
218
100
+88
7
+1
-U5
205
205
-5
53
18
1
-13
31*
•
1
58
-29
217
275
s
-1
30
35
20
57
I109
lUi*
35
5
19
31*9
+1
38
3t
3"*
•
a
237
2,020
838
327
325
*2h
+1
U7
309
19
309
+112
-l»
301
2,053
858
323
Sxpandlturas
35
U7
39
1
+23
3t
-1
151
3U
366
512
331
389
U55
g7U
1.713
Sally Traaaury Statananta.
Laaa than $500,000.
Inoludaa Oorarsaant Insuranoa and retlr«Dant funds.
Table 2.- Other Funds
(Zn millions of dollars)
Transactions in checking accounta
of Ooremaent agencies, etc.
Tlseal year
or month
Total all
transactions
Issuance of
obligations
2/
Other
transactions
Receipts
-111
-U03
-99
-51
-5
Klacellanaoue funds
and accounts 1/
Seigniorage on sllrer
Inoremant on gold
K^endlturee
Hat
Receipts
lUO
lllO
+176
176
UO
90
90
X^endltures
Bet
Receipts
Ib^endltures
19351936.
19371938.
1939-
+637
+768
1,106
-337
19I10.
+288
-251*
+119
+852
-I.8O9
-69U
191*.
-U.it03
-2,871*
-1.069
-1,615
-1,500
-1,529
+20
+1U
19113.
+3U
-217
-3.625
-2,19U
-331
-2,002
-115
-95
-216
-1.907
+8
-2
-8
2
-87
-lUS
-88
-577
+I190
160
-1.6117
+1.500
-31
-160
-51
-170
170
July
ingust ....
+18
223
-25U
Bapt saber.
35
-211
-21
-UU
-223
-U2
-29
October.
Boreaber.
December.
-95
+130
-130
-311
-253
108
Sill
+20I1
19U1.
19112.
19Ult-rebnu7,
March
iprll.
May...
June.
19>15-JaBuar7.
Tabruary.
eei
•
1/
21
-313
-56
-5
+1
-19
-37
-305
I
UOU
101
52
5
+90
90
U9
20
Ik
+2
+16
11
39
+2Ul
+20U
51
U2
29
-233
79
-89
70
311
253
-IU5
57
2IA
331
IS"!
-3
27
233
292
-86
-207
+137
+76
-8
lUly
Treatury Statements.
Less than tJOO.OOO.
Oomprlses PIU renlTlng fund, and special deposits (net).
Alee tnsludae Office of Dlatrlbutlon (fomarly Agricultural
+I10
2/
2/
Marketing Administration) commodity food stamp transactions.
Hat recelpte In this column constitute net sales, and net expendltyrae
constitute net redemptions of obllgatlona.
Details not available.
I
.
April
11
1945
Means of Financing Cash RequlrementG
(In sdlllons of dollara)
Amount required to
lie
financed
Meene of financing
I"
Tiscal Tear
or month
Total anormt
required
to be
financed
Net
budge tery
deficit
1/
Net incxeane
in Oeneral
Aind balance
Het
expenditure
In tmst
account a,
Total amount
financed
Increase In
public debt
etc.
Het decrease
In Oeneral
nind balance
2/
19351336.
193719381939.
3.209
5,390
igiio.
igiti.
igits.
3.209
!t.550
3.1%
3.l5?
i,3su
U.lGU
3.5't2
3.611
5.99U
23,U6l
6U.27U
3.611
5.103
19.598
55.897
19 w.
l,3W
'•S.595
19ltU-rAni«i7.
Marob....
U.IST
iprll.
May...
Jtuw..
Jul7
JLUfnat ....
Sfljjtasber.
October..
HoTpaber.
Docembar.
19U^ January.
Tebmary.
Source:
1/
2j
5.359
1.952
622
7.703
5.551
2,2l4«
6.023
15.626
5.3'«
2.378
5.9U7
5.551
2,0OU
6,023
5.587
2.999
3.209
5.390
1,61<8
3.1%
2,bll6
1.38U
7'iO
it.l6l»
3.275
3.611
2,528
5.99U
128
338
9U7
m.
"1.051
6U,307
6U.27U
6U.307
6,916
173
2,205
12,1(1|8
12.Ult«
"t.lS?
I.608
2.5'*9
llt.637
252
1.399
11.637
l*.327
613
2ltU
7.703
5.551
2.2U8
7.570
1.229
-307
193
5.58J
15,626
U.761
15.626
3.693
1.778
1.300
M.87U
I*.
772
5.3U2
1.756
3.G93
Oally Traaeory Statemefite.
Excludes amounta for public ilsbt ratirsment vhlch are chargeable to
the slsldLiig fond, etc.. under ^jeclal prorielons of lew.
Comprlaee truet accountn, chaclclne accounta of OoTemDent ag^nciea.
821
312
37U
306
«90
136
23.1161
6,023
12.1133
't.6U5
3.693
7'H
5,078
lUs
3.506
1.861
ll,6U6
,
2/
7U2
358
6.515
10.662
't.772
lU,637
Het
receipt!
In trust
account
etc.
3.757
U.252
2.555
193
185
133
70
5.127
188
ll|8
2,630
2.292
238
101
639
etc.. Increment on gold, aaigniorage on eilrar. and niecallanaoua
funds and accounts.
Increnent on gold excludes expenditures for
national bank note retlrinents.
Treasury Bulletin
12
Social Security Program
Sect f on I.- Budgetary Receipts and Expenditures
Table 1.- Social Security Act
(In Billions of dollara)
Saeatpt*
Oroao raceip^a
Social laenrlty taiea
rtiMl 7*ar
or month
federal Inouranea
Contrlbutiona Act
(Old-aee iaaurnace)
Total
Tederal Utaai^loTBant
Tax let
(OneiaploTaent Inaurance)
y
1936
1937
193*
1939
Leaa aaonnta credited to
Yaderal Old-iga and
Surrlrora Inaurance
Truat ^ind
Bet
receipts
i/
SJ
19U.3
au.ii
530.U
l9>io
252.2
eou.u
631.2
712.2
I9'»l
788.
690.6
895.6
57.8
90.1
100.9
107.5
97.7
119.9
-12.8
1,015.6
1.288.9
1.U72.0
1.3.30.5
1.292.1
15(.U
179.9
265.0
3«7.o
503.0
537.7
661.3
168.9
1,103.0
1.259.5
Much
368.7
8.0
252.2
u.u
116.5
3.6
250.2
2.U
"'5I
iprtl
38.
35.1
323.6
b.2
559.>t
i2:l
JtUM
5.1
1.1
31.7
306.0
1.7
6.7
17.7
U.5
Jul/
5^.r
51.8
293-3
3.8
2.9
'«9.3
11.7
290.8
?•"
iU.g
.7
l.l»
3.2
11.3
53.6
265.5
9
2.1
13.0
2.8
n.8
31.0
219-7
15-5
116.6
19'»2
19^1
19UU
19Ul4-rs1>raai7.
•tay
60lt.7
Anguflt ....
Ssptambcr.
October.
58.6
278.5
U.9
.
ovambor.
n*emb«r..
19)t9-Juwi7f obmaiT
55."t
267.3
U.O
1-5
•
33.3
222.1
336.3
.
•
11U.3
217. "t
128.2
17't.5
126.9
1U6.7
185.9
212.5
3.1
5-0
&9enllturea
Orants to Statea
risaal TOOT
or aoath
Public
Health
Serrloa
Social Security Board
Adalnlatrstlra
aiqpeDaea
UuaiaploT-
01d-a«e Aid to
Aid to
assist- dependent
the
anes
children
blind
Bant co»-
penaatlon
Public
health
adfflinle-
tratlon
19U1.
28.U
182.7
332-5
3U3.3
38U.2
Wn.ii
19)*2-
SOU. It
19U1.
527.2
52U.2
15.8
20.0
21-3
25-3
31-5
31.5
33-3
32.1
33.1*
35-"»
April.
53-6
193«.
19371938.
1939.
19I10.
19W.
19>^rebniar]r.
March....
.6
27-8
166.9
271.5
320.3
356-5
U69.6
19-7
12U.8
182.2
208.8
227.6
260.1
299-1
1191.1
>t88.0
360.6
2-7
2.8
30.U
32-3
1*15.2
2.0
1.0
.9
IU.3
25-5
l(.6
9-1
U1.9
58-9
58-3
Sj.o
70.3
55-1
5.2
u
Office for
Departaent of lAbor
Maternal SarrlGaa
and child
for
health
crippled
aarrloea children
2.U
7.8
8.9
8.0
9.t
10.8
1.0
.6
3-1
3.8
2.1
2-7
3-0
u
U.7
3.0
.6
-7
.2
-3
.k
.2
-3
.2
.2
1.6
35.6
.2
.5
.5
1(6.9
.U
.7
U7.8
.5
31.8
.7
U5.U
26.8
5-3
5.5
2.7
1.0
2-2
-9
.7
.2
.1
.3
.9
.3
.U
-7
Jolj
53-1
37.6
3U.9
2.U
-1.8
6.1
50-3
38.8
28.3
30.6
31.8
22.9
5-6
5.0
3.5
1.0
9.6
3.1
.2
.1
-9
.2
.2
.1
.2
.3
-5
.2
.2
50. i»
2.8
1(6.9
.u
.U
2.8
2-7
36.3
29.6
5:1:
.2
•5
3.2
-7
.7
7.0
1.0
2.2
39.8
32.9
30.0
29-1
25.0
•
.1
•J
.3
-3
53-3
31.8
2.9
2-3
U9.5
28.9
31.6
5.1
1.0
8.6
1.9
22.U
U.6
.8
.£
.£
1/
2/
^
2.6
3-5
2.8
2U.2
26.U
25-1
•
Ul.O 6/
1.8
§.5
6.2
yxM
'cai
28.
195.5
115.1
215.1
209.7
322.5
357.8
10.7
10.9
UO.2
29.0
febmoiT.
S.
hploTaaat
36.3
2.7
2.9
2.8
.
Excess
of
expandlturaa
67.3
57-0
n6.9
32-3
19*>Wuaar7.
of
taxes
2:^
U.O
3.8
3-8
5-5
U.U
1(3-6
October. .
loTtaber.
Bacsobar.
(U.
Befunds
7.1
8.0
8.5
10.3
63.2
69. 1(
Majr...
Septsaber.
Child
welfare
service
Var
Manpower
CoBBlaslea
Barrlee)
Joiw..
Aiacuat....
kercana7
Nanaceaent
.7
1.1
Daily Traaaury Statssisnts.
Uss than t50,000.
leraarlj Title Till of the Social Sacurit/ let.
fcraerly Title IZ of the Social Security Act.
Includes aaounts equal
to appropriations to Sailrosil Unemployvant Insurance Adalnistratlon
^md aquiTalant to amounts of taxes collected with respect to the
period froffl January 1936 to June 1939, incluaive. froo esfiloyars subject to the Railroad Uneiqploynent Insuranoe Act (See Table 3 cf Section I).
Prior to Jaauaiy 1, 19*10, figures represent aaounts transferred to
the Old-Age Beeerra Account.
Proo January 1 to July 1, 19I1O "Transfers* were Bade to the Pederal Old-Age and Survivors Insurance Trust
Pond.
Subssquently receipt
haTe been deposited in the General Pond
of the Treasury and "appropriated" directly to the Pederal 01d-A«e
and SurrlTora Insurance Truet Pund. ABounts shown as tranafers reflect deductions Bade for relfflbTiroeaent to the Oeoeral Pund account
to ooTar adainistratlTa eipensee. which are shown as expendlturee in
-3
U/
5/
6/
.1
-5
-3
20-7
1.3
l».2
.3
3W.3
3U.7
-85.2
29.8
25.9
27.8
23.
30.1
37.8
-sU.e
Section II, Table 1.
Includes only expenditures fron apprcpriationa made speelficolly for
adBlaistratlTe expenses relating to the Social Security Act; naaely.
Social Security Board. Depej-toent of Conoeroe, and Department of
Labor; and administrative e^qiensss reimbursed to the General Pund of
the Treasury under Section 201 (f) of the Social Security Act. as
amended. Beginning July 1. 19I1O. iBcluAes also adminlstratlTa expenses under the Vagner-Peyser Act. excludes administratlTe expenses payable from other aqipropriations. principally for the following agenciesi Bureau •jt Internal Savenue of the Treasury Department, and Public Health Serrlce and Office of Idueatlon of the Pederal Security Agency.
Covered by appropriations by Congress.
Second Defioienoy Appropriation Act, fiscal year 1938, spproprleted
$hl millions for refu;3dlng to certain States portlone of Pederal employers' tax for 1936 collected under the Social Security Act.
11
..
April
..
•
.
.
1945
13
Social Security Program
-
(Continued)
Section I.- Budgetary Receipts and Expenditures
(Continued)
-
Table 2.- Railroad Retirement Act
(In mill lone of dollarfl)
Receipt
Ijqpenditurea
n Bcal
year
or month
A4ffliniBtratlTa
Carriers' Taxing
ict of 1937
axpenaea
i/
193619?71933193919U0.
19U1.
19U3.
.3
.3
150.1
109.3
ISl.O
136.9
170.0
208.8
267.1
1-5
IU9.0
110.0
123.3
128.2
1U8.5
220.2
265.3
1.5
2.6
2-9
2.6
•3
19't3.
iguii.
19UU-r«ini«ry.
March
Tranefare to
Bailroad Retirement Account
(truit account)
Refunds
£zc««» of
eipendlturoB
of
1/
taxei
3
1.2
-1.1
1U6.I1
107.1
120.7
I2U.U
'•f
.7
2.3
-8.7
-21.6
7.6
ll<0.9
5.U
2.5
2ll4.S
11.
262.7
-1.8
It
It.l
.1
.1
-3-9
58.6
.2
.2
-58."»
i^>rll.
.1*
3't.7
n.U
.2
.2
.2
.2
.2
3t.5
Haj...
Jun*.
205.0
.2
20U.g
.1
.1
.2
.2
3U.2
.2
.2
.2
3lt.0
.2
.2
3U.5
6k.9
Jul7
Au^uJt
Septamher.
.
.
.
l.U
1U.2
56.9
Octoher.
HoTem^ar.
Ih'.l
Daceiahar.
55.2
19U5- January
Tetruary.
1.2
U.7
.
Sourct:
•
1/
.2
.2
3U.8
.2
Dally Treatury Stat«B«nts.
Lesi than $50,000.
Includaa only e^enditurei from appropriation* made specifically for
2/
3U.3
-1J.2
-61.7
201.6
-lli.l
-56.7
32-7
-lU.2
-55.1
admlnlttratlTe expenBei relating to the Railroad Betlreneat Act.
Covered by approprlatlone from the General Tund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In mllllonfl of dollars)
fiectlpts
Tlseal year
or nonth
Xqpondlttirei
AdmlnlstratlTe expenses (Bailroad
Bailroad nnesiployment Insurance
contrlbatlone
Unn^loyment Insurance Administration
2/
1936.
1937.
1938.
1939.
19U0.
19U1.
19U2.
19U3.
19Mt-
?und) 2/
Transfers to Ballroad Unesployvent
Insurance Account,
Unes^loyment Trust
fund k/
.5
U.9
6.8
8.
19W(-Ta»roai7.
March
5/
.5
.1
5.0
10.
12.
Xieess of
expenditures
3.'»
7.5
U.l
2.5
2.2
3.2
?•'
6.0
11.7
-2.1
-2.1
2.7
3
.3
-aii
3
.3
.3
-3.2
•
April.
May...
Jose.
•
.2
July
Aucuat. ..
Saptaabar.
.3
•
.7
8.8
-2.6
October.
lOTaabar.
Dacaabar.
.k
all
.
ce:
*
1/
2/
Ikily Treasury 9tat«aents.
Less than t^O.OOO.
Operated as Railroad Unsaployaent Inturancs Administration Tund.
Represents 10^ of contribution* under the Bailroad Unemployment
Insurance Act; the remaining 90^ is deposited In the Railroad Vnemploymeat Insurance Account, UnemploymeDt Trust rund (See Section
II, Table }).
Excludes amounts appropriated to Railroad Unemployment Insurance Administration fund eoulvalent to aaounts of taxes
collected for the period January 1936 throu^b June 1939 from employers subject to the Railroad Uneoploysent Insurance Act.
These
amounts afffracated $17-7 millions and vera distributed by calendar
.3
.2
3
-2.9
.2
.2
.2
•
igUS- January..
Tabruary.
y
U/
^
.3
8.9
.1
years, as follov*:
I936. $3.7 Ulioas; 1937. 1^.3 llllons;
1938> $6*8 mlllloDs; and for the first six months of the calendar
year 1939' $?'9 millions.
These amounts are Included In Table 1
under federal Unemployment Tax Act (unemployment loeuranee).
Include* only expenditures from appropriations made specifically
for administrative e^enses relating to the Railroad Unemployment
lovurance Act
Represents excess funds of the Railroad Unsnployment Insurance Administration rund (under Act of Oct. 10, 19I1O).
Covered by appropriations by Congees.
Treasury Bulletin
ll^
Social Security Program
(Continued)
-
Section II.- Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fund
(Cumulative
organizatlOD
fros]
-
Receipte
Snd of flBCal
year or month
1936.
1937.
265.0
765.0
1,155.0
1.705.0
2.393.1
3,288.8
19U3igUU.
267.3
782.7
1,199.6
1.792.1
2.536.2
3,502.8
U, 720.7
6.116.0
19W»- Dec ember.
19U5-Januar7,
yebruary.
1938
1939.
igMo.
19l»l.
19'iJ.
Source;
•
ly
In mlllloDB of dollars)
Expend! turae
Appropriatlone by
Congreet
Total
receipts
Ij'
InTeatmeute
Old-age
benefit
Total
expandlturea
2.3
17.7
payiDenta
5.t
19-3
I4U.6
87.1
U7.li
11*3.1
118.6
275.6
l,7l'lt-7
39.1
65.9
93. li
2.397-6
3,227.2
U.268.3
officer's
account
267.1
662.3
1.177.2
1.738.1
2,380.6
3.201.6
.1
.1
113.0
1.9
3.0
6.1
.1
10.8
5,iiU6.i(
6:1
5-2
7.0
16.1
138.9
6,OOlt.7
5,966.8
8.5
29. ii
ll»1.2
6,020.6
6.220.9
5.953.8
5,953.8
36.U
23U.1
32.9
5,711.'!
1IOU.7
669.6
5lt3-7
126.0
6,797.9
6.387.0
U10.9
793-2
651*. 2
6.836.1
7.058.1
6,1*20.2
1H5.8
U15.8
815-5
837.2
67U.3
693-7
2/
In dlaburslng
11,236.8
5.1108.9
U. 1119.
Dally Treaeury Statements.
Leas then $50,000.
Includes transactlona effected under the predeceeeor Old-Age Reaerre
tn General
Pund
12.3
21U.1
301.5
6.6U2.3
Inveatmenta
267.2
777.2
1,180.3
5.H
19.3
35-1
99.5
209.8
359.1
I152.l1
Unexpended balance
Relmburaeaent
for
adalQlatratlve
expenaea 2j
11*3.5
20.1;
2I1.5
21.
30.
Account
Under Section 201 (f) of the Social Security Act amendaenta of
1939.
Table 2.- Railroad Retirement Account
(CunulatiTe from organisation - In millions of dollars)
Receipts
£nd of fiscal
year or month
Appropriations
by Congress
Total
receipts
Sxpendltures
Benefit
payments
Interest on
investments
Unexpended balance
Total
Investment
In disbursing
officer's account
In General
Pund
1936
1937
1938
1939
I16.6
I16.6
U6.6
1U7.9
U6.6
1U6.5
26U.8
38U.9
U98.5
268.lt
I119.9
92.1
87.0
79.11
7li.O
1011.8
85U.2
1,116.9
676.6
811.0
1911.9
91.5
178.0
333-0
318.
l.'t53.'*
1, "125.7
27.7
880.8
1*89.5
70.
12.8
1. 1*53.6
1.1125.7
1,1*25.7
27.9
892.6
903.7
572.7
561.0
550.1
512.0
500.0
35.8
35.8
n.2
February
Source:
•
6.0
1.6
2.3
.2
5I16.I
l^^~JaIl^l&^J
19113
82.7
3.I1
19Ull-D«c ember
19I12
66.2
67.2
68.1
11.6
17.3
27.2
191111
19I1I
U6.6
36.6
I12.6
13-2
10.8
2.5
1.6
U.l
1.1
390.8
506.9
650.9
871.5
l.lWi.l
19110
U6.6
U.O
79.8
I85.6
298.7
l.U
3.6
5.9
639.ll
l.'»53.9
1.8
10.5
11.7
12.8
I3.U
lU.J
Dally Treaeury StatemeBtSi
less than $50,000.
Table 3.- Unemployment Trust Fund
(CunnilatlTe from organisation - In millions of dollars)
Receipts
Ibd of fiscal
year or month
Total
receipts
Expenditures
State
Railroad Unemployment
unemployInsurance Account 1/
ment
insurance
Transfers
Railroad
actlTlfrom
unemploytles
Tranafers
Railroad
ment
Unemployment
from
Deposits insurance States
Insurance
contribuby
Administrations 2/
States
tion Fund kj
InTsatmeats
Total
expendlturea
^
1936
1937
1938
1939
18.
313.1*
1,076.2
I.91I1.3
igfc
19U1
2/
3/
29.1
2.302.1
1.0
192.0
633.5
1.116.7
1.550.0
1.918.0
18.
312.
5Sl*.2
18.9
312.3
872.0
1.267.0
1,710.0
2,273.0
3.139.0
lU
2,152.U
1.8
105.9
105.9
105.9
105.9
1*3.8
,280.5
.72U.9
,283.7
,150.1
.372.5 11.367.0
5,878.8 5,870.0
.1
12.2
13.5
2711.3
383.7
8,912.9
7,913.3
IM.l
106.1
38.0
381.
2,329.1*
2,179.3
106.1
Itil.l
583-1* 6,579.0
U.2
9,011.3
9,223.5
7.986.9
8,198.7
ltlll*.2
106.2
106.2
38.0
38.0
1136.1
2.336.5
1136.1
2,3l»3.3
2,186.2
2,192-9
106.2
106.2
Vi.Z
1A.3
67U.8 6,653.0
6,880.5 6,873.0
21.3
7.0
19'15-Jauuary.
February.
1/
1.0
192.0
633.!
1,133.1
1,688.2
5.935.0
19I1I1- Dec ember.
•
llll.2
105.6
181.9
2.8
18.0
UU.S
82.6
131.5
198.9
281.
377-9
in
In disGeneral
bursing
Fund
officer'
(Special
account
Depoeit
Account)
7.2811.
1911?
iguii
Source:
.1
3.621.(1
i*,717.3
Investment a
V
18.
310.6
1,058.2
1,869.5
2,729.3
Unexpended
balance
1.8
105.9
105.9
105.9
105.9
2.857.9
3.971.9
5,215.5
6,6lU.o
8,180.9
19I12
Balance
State unemployment Railroad
insurance
UnemployactlTltles
ment
Transfers Insurance
to Rail- Account
Withroad Unemdrawal s
ployment
by
Insurance Benefit
states
Account
payments
W*.8
11. li
17.1*
Dally Ireaaurjr Statement s.
Leas than $^,000.
Ixcludee advance of $13 millions from the Treasury and subsequent
repayment, both taking place in the fiscal year I9M0.
Represents 30^ of contrlbutlone under the Railroad Unemployment Insurance Act; the remaining 10^ is used for adminlstratl-re erqienses.
(See Section I, Tal)le 3.)
Represents amounts transferred from States to Railroad Unemployment
2.065:11
2,2111.5
2.092.11
IU.6
1*3.2
13.
8.0
7.8
U.O
8.5
l.U
2.7
3-3
1.5
.3
.2
Insurance Account equlralsnt to amounts of taxes collectsd. with
respect to period from January 193^ *o June 1939 InclueiTe, from
SB^loyees and employers who come within the purview of the Railroad Unemployment Insurance Act.
Represent B excess funds of the Railroad Unemployment Insurance Administration fund (\inder Act of Oct. 10. 19U0)
7or railroad uneiq>loyBent benefits and refunde.
t
April
1945
15
Appropriations and Net Contract Authorlzatlona for the War Activities Program^
As of February 28, 1045
DM*
pproT«d
Fubllo
Lm
Ho.
Tltl* of
Ht
ntb Coa^«*s,
r*i>.
6,
Approprlfttlon*
Tlrtt Settloa
Vet oontrAot
•athorltfttloa* 2/
Treasury Bulletin
16
^
Appropriations and Net Contract Authorizations for the War Activities Program
As of February 28, 1945 - (Continued)
Int*
approTsd
PaUlc
ntl*
Lav Vo.
I«t contract
authorltatloni 2/
Appropriation!
ot iei
78th Conffrota, Second Seailoa
igWt
19UU
19Wl
May 12. 19Wt
June 22. 19UU
June 26. I9IU1
June 27. igWt
Jnne 28,
Juno 28 iguu
Jnne 28. 19W
Juno 28. 19Wt
June 28. 19Mt
Jvna Zi 191A
June 28. 19'tlt
June 30, 19Wt
Tat>.
lU,
ipr.
Apr.
1,
>4,
.
Jtlne 30,
19ltU
June 30,
19M
Dec. 22, 19W(
229
279
288
303
3'»7
352
356
365
3b7
309
372
Joint Beeolntlon (fan labor and algratlon of worfcera)
Tint Deficiency Appropriation Aot. 19'tll
Public Lav (Tederal Vorki Agency - public roada)
Joint Resolution (Labor Departoent - aetemlty and infant care)
HaTal Anproprlatlon Act I9U5
»ar Department Clrll Appropriation Act, 19>i;^
TnAependent Offices Appropriation Act 19U5
Departnente of State, Justice and Connerce Appropriation Act, Vj^...,
Departnent of Agriculture ^proprlatlon Act 19)49
Interior Departnent Approprlat Ion Act 19^5
Hat lonal Var Agency Approprlat Ion Act 19^
Labor - federal Security Appropriation Act 19^
Military Appropriation Act, 19115
Second Deficiency Appropriation Aot 19UU
Defense Aid Appropriation Act I9U5
United Kations Relief and BebabUltation Adalnlitratloa Participation
Appropriation Act, 19U5
Foreign Economic Adoinl etrat ion i^propriat ion Act . 19)1$
first Soppleaental j^ipropriation Act 19^
t
375
382
382
382
529
Total, 78tb Conereas, Saoood Sasiion
»55.913.179.98'4
S
140,000.000
30,000.000
6.700.000
27.569.798.301 2/
.
2.7A.9J1.I40O
1,1151, gito
1.208.168,5714
6.836,008,9143
U7, 585. coo
.
30,700,000
,
18,lllt,200
1.030.937,2142
218, 6U, 829
15,U3U,81l4,79J
186,266,5214 10/
3.1450,570,000
,
,
,
37li
31 .359.200
170,221.090
,
,
2,500,000
1,880,000,0%
^
1450,000,000
19.750,000
1410,291,029
.
U/
60,000,000 5/
t5.995.599.97U
79th Concreia, Tlrst Snatloa
Peadlnc 12/
Independent Of floes Appropriation Bill, 19U6
ytret Deficiency Appropriation Sill, 19I45
Var Department Clrll Punctions Appropriation Bill.
$
2,697. 1140
Total pending
t
76th CoDcraas. Third Session 1^
77th Congress. Tlrst Session
77th Congress. Second Session
78th Congress first Session
78th Congress, Second Session
Permanent appropriations and net tranafera from other than var actlTlties
t
Total,
Total,
Total,
Total ,
Total.
.
^proprlat tons 16/
Total approTed
Total pending, 79th Congreas, Tlrst Session
Liquidations of 19I4O and prior contract authorisations
1/
2/
^
k]
^
EeTlsed.
Consists of apprcprlatlons and net contract anthorltatlons avmllahle
on and after July 1, 19I4O. Excludes:
(1) authorisations of the Baconstruction Tlnance Corporation and its affiliates for var purpoaee,
and (2) unexpended balances of q^propriatlons on June 30, 19)40 (except immediately available funds from fiscal year 19)41 appropriations) available for expenditure In the fiscal year 19)41.
Contract authorizations have been reduced by later appropriations
vhlch vera earmarked in authorltlog acts for this purpose.
Represents the net amount of contractual authority that the President may authorize the head of any department or agency of the Oovernment to enter into for the procurement of defense articles, in^
formation, or eerrices for the government of any country vhose defense the President deems vital to the defense of the United States.
Includes $9,693,525,500 ^propriated for the fiscal year 19)42.
Unappropriated contract authorisations for the naval expansion program are as follovot
Sate approved
W
$
91,300.000
2,078.078.269
$
8,9914,015.828
396, U37. 1*50
$
149.
-148,000.000
143.
300.000
678,1400.000
139,736,203,988
2. 35!:. 000, 000
105.916,1192,321
55.913. 179.98)4
1.327. 99)4. 892 r
5.995. 599.97U
838.927. 552
,
Total approved and pending approprlatlona and net contract auchorlsatlona 1/
r
58.288,300 13/
2,017.092,829
19'46.
$360,195,257,122
2.078.078.269
$12. 357. 99)4.866
I43.
300.000
-l467.872.8lt6
$361.805.1462.511^
$12, 1401,2914,866
April
1945
n
Ca8h Income and Outgo of the Treasury, by Major Classifications^
(Id mllllooi of dollars)
Treasury Bulletin
18
GENERAL
FUND
OF
THE
TREASURY
April
1945
19
Assets of the General Fund of the Treasury
(la mlllloaB of dollars)
&n4 of fiscal
Tear or montb
Bullioa, coin,
and oorreocy
Deposit e In
Tederal Eeeerre
Basks
Treasury Bulletin
20
Analysis of Change In Balance of General Fund of the Treasury
fin Billions of dollar* - B«t
incnata or net deereaa*
(-]]
Worldly halanoe
Change during fiscal
ysar or nontb
1935
1936
1937
1938
1939
Total
change in
(}eneral
Tond
halanee
8ltO
-128
-338
62s
-9U7
fin
358
6.515
IS"*
19IH
19IW
19't3
191A
10,
19l»l(-»ebrn«i7.
e&
Total
working
halance
y
-7696/
-3.209
1.067 5/
-70
-377
537
-'t.550
-3.1'»9
-1.36U
-3.5t2
Pulillc d*bt
accoiuti
rru»t
account
i/
2/
U
Miscellaneous
funds and
accounts
Checking
accounts of
OoTsrnsent
agencies.
y
etc.
637
10s
lUo
176
-111
2.7U61/
19
31".
ito
792 2/
3.280 1/
11
29
20U
768
90
90
-99
-51
-5
2,528
37
3'»
-a7
t9
20
-3.625
lU
16
11
Wl
II
6U,27U
6lt,307
92
1U«
205
-U,l«>3
-5.359
-1.952
12,UUS
1,608
150
-201
8
-2
-331
-2,002
-'•.772
-5.3'»2
252
1.399
It. 637
120
282
160
-355
-170
6,916
-2,5't9
i^rll
-1».327
-',327
•fay
5,99't
23,
51
-87
-lUg
-88
-2,378
1.756
-U,252
-2.555
7.570
1.229
-307
102
282
-308
223
-5.551
-2,00U
29
35
7148
July
Anguit ....
1.756
S«pt ember.
-2.555
October.
November.
December.
-5.127
-Igg
12.1*33
-5.127
-188
12, 133
-6,023
-5.587
-2.999
15,626
112
257
-282
130
311
253
-iS
19>6-J8iiaai7
Tebruary.
-2,630
-2.292
-2,630
-2,292
-U,6U5
-3.693
1.778
1.300
80
338
76
-313
.
Source:
*
1/
2/
^
U/
5/
5/
Sally Treasury Statenents.
Lees than $500,000.
This Is the net budgetary deficit. Zxeludes amounts for public
debt retirement i^lch are chargeable to the eloklng fund, etc.,
under special proTlslons of lav.
This represents the Increase In the gross puhllc deht, except as
noted.
(See footnote 7-)
Includes Federal Old-Age and Surrlvors Insurance Trust Fund, Unemployment Trust Fund, Sallroad Retirement Account, OoTernoent Insurance and retirement fonds and other trust funds.
CoB^jrlses Public Vorke Administration revolving fund and special
deposits (net). Also includes Office of Dletrlhutlon (formerly
Agricultural Marketing Administration) commodity food etamp transactions.
Includes eipendlturee for retirement of national hank notes.
In the fiscal years I935 and I936. $91 mlUions and $55U millions
It,
761
2/
%
2UI
11,61(6
-5.9'*7
5/
3"*
-'19.595
6.916
Increaent
on gold
64
-3.611
-5.103
-19.598
-55.897
-a.5'*9
Seigniorage
on ellrer
1.739
5.U75 1/
-997
722
31*
6,515
10,662
Harch
Joae
General
and special
accounts
-95
21
were transferred from Increment on gold to the working halasoe for
retirement of national hank notes.
In this statement, however,
charges for retirement of national bank notes are reflected directly against Increment on ^Id, in the years during which the
retirements were actually aade.
Inactive gold In the amount of
$1,087 millions for the fiscal year 1937 !• considered as a part
of the working balance general and special accounts for the purpose of this table.
Bipendltures for the retirement of national bank notes from Increment on gold for the fiscal years 1935 to 1939 (as shown below)
are not reflected herein, but are reflected under increment on
gold as follows: 1935. $91 millions; 1936, $397 millions; 1937.
$99 millions; 193S. $51 minions; and 1939, $5 millions; total.
$6% millions. The Increases in the public debt shown in the
table "Means of Financing Cash Requirement s" for the above fiscal
years will not agree for the reason stated above.
April
1945
zi
PUBLIC
OF
DEBT AND GUARANTEED OBLIGATIONS
THE UNITED STATES GOVERNMENT
Treasury Bulletin
22
Analysis of Issuance and Retirement of Public Debt
(In fflilllons of dollsra)
P^lle
d«bt ont-
taading
end of
or aoath
flw&l
yaar or
month
Public debt recelpte
(lesoasee of pubXlc debt]
Het ehaii£«
in public
Publio ieetiee
detit
darlD£
flioal
year or
nonth
Total
y
28.701
33.779
36,>«5
37.165
1.6148
13.126
5.078
114.121
2.61*6
TtO
9.5«9
9.621
Sio.wto
3.275
13.O8I4
19I1O
2.528
191*
U2.96g
1^.961
72.U22
136.696
201,003
19W4-»etniary.
March
183.107
12.1*148
1811.715
1.608
I8U.967
186,366
201.003
252
1,399
19)12
19"»3
^rtl
Hoy
Jona
6it,27U
307
61*.
Certl float ee
Adjusted
of Indebtad•errleo
aeee. epeelal
bonds
•erlea 2/
Cash
1935
1936
1937
193*
1939
191a
Pobllo debt eipendltnres
(Retlrenent of public debt)
Pisbllc Issues
Sxe«se
profits
tax refund
bonds
11*1
6.96U
2.978
1.751
"•.776
13
2.671*
7.1475
7
3.035
13,166
7.1914
8
2,812
17.81*7
37.161*
10.1462
2
3,11*2
k'.SMi.
1,W2
30,388
122,632 914,961
153.785 123.958
1
303
17.911
1
I491
1
10,638
11.353
13.703
58.358
33. 67!*
303
17.911
89.1*78
63.202
1491
5.680
5.SI6
8.693
209
523
567
l,0l4l
1.''73
2,812
2,ll46
3,11*2
2,896
14,1U
5.332
1,UU2
18,790
6,991*
1
2.127
I107
6.778
l*.5l40
2.127
l,9>i6
350
8.7I46
6.789
1.9"i6
11
5.192
5.613
2k
3U
'».903
37
6.39I*
5.155
4,672
6.971
12
21.1406
10.070
6.301
13.199
"4.903
114.637
10.322
7.700
27.837
210. 2IA
215.005
230.630
71*8
U,76l
15.626
9.822
11.597
27.178
6,092
10.928
22.762
32
71
51
1.778
1.300
7,630
7.169
6.879
1*6
12,0140
1/
i,S25
5,166
5.301
3«
October..
VoToa^er.
D«otab«r.
•
8,881
9,809
6,96U
2.978
1.751
2.67U
3.035
KT03
16.691
8.019
11,1*22
c«i
2.159
2.567
C«rtlfle*t«i
of IndebtedD«iB, Bpeeial
19.226
10.355
12.162
10,151
10,991
233.707
9,0143
6,91*3
18.790
7.570
1.229
-307
232, >M8
II.I478
516
13"*
208.571*
.
1*1*6
I. '199
5.876
8,318
lO.liu
209.802
209. uge
..
Cash
y
1.669
Smptmibn.
Pebru&ry
Si-
Total
ohan^s
5.716
8,95«
6.199
July
19U3-^aniiaT7.
Special
lesoee
1,618
5.920
5t
Sblly rrttaiTuy Stat«o«nta.
Lais than $500,000.
Sxcludai certlflcatea of Indabtadnaas, paclal aarlas.
~ij
I.6I8
696
I4.592
5H
526
8.922
11.298
6,l400
6,805
Si
9.073
6,836
11.552
5.571
6.651
6.931
3.1>92
!7«0
^r''
5.801
6,077
3.1*92
205
170
U,150
1428
4,949
'»57
21 14
1*07
11
6,228
2,511
U.Sil
I4I4
7.OI4I4
112
22
11
11
11
170
15
l*.190
1*71
7
l4,6l49
Comiata of apaclal aarlaa of cartlflcataa of
dlr«etl7 and aolal7 to Tedaral Saaarra Bank*.
Indalitailiiaaa
laauad
Composition of the Interest-Bearing Public Debt
Intaraat-hearlac public dabt oatat&ndlnc
(Xn mllllone of dollars)
Parcant of Intaraat-baaring public dabt
Pobllo iaauas
Aid of fiscal
year or month
lotaa
Karkatabla
19351936.
1937.
1938.
1939.
19140.
HonDarkatabla
Markatabla
UODoax4cat-
abla
Public iasujao
Cartlflcataa
Of
Indabtadnaaa
Spaclal
lasues
62
1.261
1.188
1,556
2.151
10,023
2.053
11 381
2.35)4
10,617
2.303
26.751
1.166
30.1411
''.555
10,1*96
27,6)45
114,871*
32,989
35.800
36,576
39.886
17.368
1*2,376
1*8,387
71,968
135,380
38.281
57,716
20.1314
22.0143
25.l4ll4
,
9.11*7
1.15*4
7,21*3
1.308
6.383
5.698
6,689
9.168
1.302
1.603
2,508
Pi
626
1.558
2.676
3.770
Harketabla
100.0
100.0
100.0
100.0
100.0
53.8
52.6
56.2
60.3
63.7
63.1
62.8
Honfflarket-
Bbla
.2
Karketabla
7.1*
7.1
29.7
25.0
18.2
6.U
3-2
3.3
li
15.1
11.8
3-1
3.3
lU.6
16.0
17.7
6.8
8.7
u
7.3
8.9
199.51*'
79,l4l40
I7,lt05
9.557
ll*,73i*
114,287
181. 70s
714.078
13.302
73.009
I6,2l4l4
13.168
13.507
100.0
100.0
)<o.s
183.31*8
25,680
25,680
13,112
March
10.220
9.116
39.8
17.7
17.8
Iprll.
Maj...
Juaa..
183,1413
18l4,g7U
72,722
72,733
35.298
17,1105
25,306
25,266
28,822
13.697
199.51*3
9.092
9.050
9.557
13.150
13.766
79,ltllO
im
16,263
16,265
114.73)*
11*,
100.0
100.0
100.0
39.6
39.3
39.8
18.1
18.2
17.7
July
iu<uat...
Saptaobar.
207.117
208.289
207.850
81,293
37.237
81,1*31
81,1*66
37.581*
18,067
18,067
17.936
10,000
10,030
9,12U
30.035
30,001
29.573
15.52U
15.715
1)4,961
15.lt6l
15.976
39.2
39.1
39.2
18.0
18.0
15.71*7
100.0
100.0
100.0
Octobar
HoTaabar
Daoeabar.
208,608
ao.77i»
228.891
81.1*66
38.355
9. 018
17,936
17.936
23.039
9.075
9.990
9.8U3
29.5I46
16,060
29,51*5
30,1101
l6,)i05
l6,)428
16,170
16,583
16,326
100.0
100.0
100.0
3S: 1
17.9
8.6
8.5
10.1
23.039
23.039
9.86I4
3O.I1OI
16.1*03
30,396
16.399
16,688
17.130
100.0
100.0
ItO.l
9.927
18.1
I8.3
10.0
9.9
•
19>4'*-rabniar7.
. .
19'45-Jaouary
February. ...
Source!
230,672
23I.85I4
81.298
91.781
92.1417
92.5145
Daily Treaaury Statamenta.
21,70l4
35.298
38,028
J1,071*
1*1,858
1*2,1*18
3.015
7.1*95
11,86)4
13.11*7
ll*,122
287
142.6
39.8
18.
18.
I4
18.
I
39.9
S^acial
isauaa
3"-
3.096
16,561
28,822
191*3
19144.
14.775
6.120
7.885
10.871
markatabla
CartifIcatas
of
Indabtadnais
36.3
3.8
100.0
100.0
100.0
100.0
100.0
19141.
19142.
Bon-
2-3
1.9
U.3
12.6
11.0
8.0
7.2
U.3
12.2
lU.U
3.5
8.8
5.6
5.0
1)4.1
7.2
7.2
7.2
8.9
5.0
7-2
8.8
8.7
14.9
13.8
13.7
U.8
lU.l*
7.1*
7.5
7.6
7.2
U.2
8.7
8.7
8.6
1)4.0
7.I4
7.)4
7.1*
U.8
U.8
11*.
5
7.5
7.2
11*.
i*
U.l*
1U.2
y.i
7.7
U.U
IU.2
7.7
l4.7
ll*.0
7.8
t.3
13.3
7.2
7.8
7.9
7.1
t.3
13.2
l*.3
13.1
7.1
7.1
7."«
7.2
7.)*
April
1945
23
Detailed Statement of the Public Debt and Guaranteed Obligations
of the United States Government
PART A - riBCAli YEARS, 193^-191^
(In mlllloQS of dollars)
(CoBtlmad OB follovla«
Tf)
24
Detailed Statement of the Public Debt and Guaranteed Obligations
of the United States Government - (Continued)
PART A
-
FISCAL YEARS, 1935-19»Ml-(Contlnupd)
(In ollllone of dollare)
Treasury Bulletin
April
1945
25
Detailed Statement of the Public Debt and Guaranteed Obligations
of the United States Government - (Continued)
PART B - MONTHLY DATA-( Continued)
(In milliona of dollars)
Treasury Bulletin
26
INTEREST -BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS
OF THE UNITED STATES GOVERNMENT
dollar;
"DOLLARS
DOLLARS
Billions
Billiont
Public Debt and Guaranteed Obligations
270
270
260
260
250
250
s
Billions
Non-Marketable Public Debt
60
60
m
50
50
other
Savings notes
40
40
Savings bonds
240
240
30
230
20
220
10
30
Guaranteed obligations
Special issues
230
Public debt
ii
Non- marketable issues
Marketable issues
220
210
RW
210
1935
36
37
38
39
M
40
41
n
42
43
^^
44 Feb. 28.
1945
200
200
DOLLARS
Billion.
190
1
90
Marketable Public Debt
190
leo
170
160
150
140
130
120
no
100
90
80
70
60
50
40
30
20
10
1935
36
'37
-38
-End
39
40
of Fiscal
'41
Yoor-
42
'43
44
^
Feb. 28.
1945
1935
'36
37
'38
End
39
40
of Fiteol
41
Yoor
42
43
44
^
Feb. 28.
1945
20
April
1945
27
Guaranteed Obligations Held by the Treasury
(In fflllllone of dollnra)
&d of flecal
year or month
Commodity
^
aa
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States^
As of February 28, 1945
(In
and
montb
BllUonc of telUre)
Treasury Bulletin
ApriJ
1945
29
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States 1/
As of February 28, 1945 - (Continued)
(Zn mllllona of dollars)
Tear
and
month
30
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States!/
As of February 28, 1945 - (Continued)
(In nillioni of dollar!
Tear
and
month
Treasury Bulletin
W
1945
April
31
Offerings of Marketable Issues of Treasury Bonds, Nofest
and Certificates of Indebtedness
Data
ntbscrlptlon
bo ok a
Dat*
k«rai of
offering
Daacrlptlon of .aaeurlty
(Period to flrat call
ahown In pareutbeaea]
(Date of laaae it ahovn in parontheaaa)
were
opened
announced
Period to maturity
y
lurlleat
dAte
Ifflount
on wUoh
of caab
coaaerclal aubacripbanlca
tlODt
nay ovs
t endered
rettrieted
2/
laeuea 2/
Amount la«ii»d
In
ezchim£«
for other
•ecnrltici
lor
total
cath
(In aillioni of dollart)
Second War Loan eeourltlea;
3/12/l»3
l*/12/l*3<
3/12/U3
Vl9/l*3
6/28/U3
6/27/1*3
7/28/'t3
7/22/1*3
2-1/211 Treat, bond- 6/I5/6U-69
(l*/15/''3)
Treae. bond- 9/15/50-52
(1*/15/1*3)
(l*/15/ll3)
2*
7/8*
Certlfleate-
7/8)J
Certlfleate
1-1/2* treai .note
Certificate
7/8*
-
U/l/l*l*
^/l/kk
- 9/15/1*7
-
(
S/l/UU
(5/1/1*3)
7/12/1*3)
(8/2/1*3)
26 7T.2 a
9 yr.5 "
1 yr
1*
7r
yr,2 o
1
yr
1
(a
(
7
)
yT.2
7r.5 m)
U/15/53
3.762
12.757
12.895
19. S"*!*
5.!t8U
3.762
U.939
5.251
3.762
i*.939
5.251
1.655
1.655
2.707
2,707
989
1,556
Third War Loan aeourltiea:
8/16/U3
9/9/1*3
10/6/U3
10/6/1*3
«/l6/U3
,
10/6/1*3
lo/6/U36^ 10/6/U3
11/22/1*3
11/22/1*3
2-1/2* Treat. bond-12/l5/61*-69
Treae. bond- 9/15/51-53
2*
Certificate- 9/1/1*1*
7/8*
Certificate
10/1/1*1*
7/8*
I2/15/6U-69
2-1/2* Treai. bond
Treat, bond - 9/15/51-53 1/
2*
7/g*
Certificate-
i/isM'
l/2l*/W*
1/2U/1*1*
3/2/10*
3/2/1*1*
3/2/l*i»
3/2/UU
3/2/UU
3/2/i*U
3/22/1*1*
3/22/1*1*
U/2U/U1*
U/2UM
6/12/
7/20/1*1*
7/20/1*1*
g/2U/l*U
8/2U/UU
8/2U/UU
8/2U/1*!*
9/20/1*1*
9/25/1*1*
11/20/W
11/17/1*1*
11/20/Ul*
11/17/Ul*
11/20/1*1*
11/17/1*1*
ll/20/l*U
n/17/ul*
11/20/1*1*
1/22/1*5
2/19/U5
1/22/1*5
2/19/1*5
3/22/1*5
3/22/U5
(12/I/U3)
Treat, note
.90*
2-1/2* Treat, bond
2-1/1** Treat, bond
1-1/2* Trtat. note
Certificate
7/8*
Certificate
7/8*
-
-
3/1/1*5
3/15/65-70
2-1/2*
2*
l-l/U*
7/8*
7/8*
7/8*
1*
7/8*
(2/1/1*4)
(2/1/1*1*)
(2/1/UU)
2/
JJ/
(2/1/1*1*)
(2/1/1*1*)
9/15/U8----~
(3/15/'*'*)
i*/l/U5
(It/l/W
5/1/1*5
(5/1/1*^)
S/I/U5
Certificate Treat, note Certificate -
9/1/1*5
(2/1/1*1*)
(6/26/1*1*)
(6/26/1*1*)
(
9/15/53
8yr)
1 yr
1 yr
26 yr.2 m
9 yr.ll m
1 yr
(21 yr,2 u) 5/
(
7 yr.llm) 5/
26 yr.l m
15 yr,7
(21 yr.l m)
(12 yr.7 »)
3.779
5.257
U,122
3.779
5.257
3.779
5.257
'*,122
ll,122
5.391
3.519
5^532
2,729
9/15/53
1,5»
1,939
59
1,102
59
1.627
3.5l<0
3.5'<o
2,a2
9/15^^
lyp
1 yr,l a
26 yr
15 yr,6 a
I* yr,6 a
1 yr
2,a2
3.728
1/
3.728 1/
5,01*8
5.01*8 2/
2.212 If
3.728 7/
5.01*8 2/
2,127
77
95
2.127
(21 yr) 8/
(12 yr,6a) 8/
2/1/SU
77
9/15/1*6
95
3.7U8
U.877
1.615
lyr
25 yr. 9 a
10 yr
2 yr.9
(8/1/1*1*)
i'ifl/V'i)
(11/1/Ul)
(lO/l/UU)
3/15/1*6]*/
10/1/1*5
(20 yr,9 a) 2/
8 yr)
(
2/1/51*
2.909
5.825
1.91*8
11
...(6/26/1*1*)
3.7l*«
'•.877
1.615
1*.770
1 yr
1 yr
1
yr.6Bl0/.
2,909 1/
5,825 1/
1.91*8 1/
l*,770
1/
u
2.909
5.825 7/
1,91*8 2/
l*.770
2/
2,511
2,511
3.691*
3,691*
788
788
3,t92
3,1*92
1 TT
]_/
2-1/2* Treat, bond- 3/I5/66-71
Treat, bond-12/15/52-51*
2*
1-1/1** Treat, note- 9/15/^*7
Certificate- 12/1/1*5
7/8*
Treat, note
.90*
2-1/2* Treat, bond
Treat, bond
2*
1-1/1** Treae. note
Certificate
7/8*
Certificate
7/8*
Certificate
7/8*
(21 yT,3 a)
J/
Treat, bond- 3/15/65-70 U/
Treat, bond- 6/I5/52-5I*
Treat, note- 3/I5/U7
Certificate- 6/1/1*5
(12/1/1*1*)
(12/1/W*)
(12/1/1*1*)
(12/1/1*1*)
1/1/1*6
(12/1/1*1*)
3/15/66-71 U/....
12/15/52-51* 11/.
9/15/1*7 11/
2/1/1*6
.
.
.
(12/1/1*)*)
(12/1/1*1*)
(12/1/
(2/1/U5)
I/I/MS'.'.'.'.'.'.'.'.'.'.'.'aI/iM)
Back riffuree: Tor period Daceaber 19^1 tbrough Jebruary
Bulletin" for BoTenber 19W*, pa^e 32.
Preliminary.
p
r
1/
(2/1/1*1*)
V
9/15/56-595/
Certificate-
26 yT,3 a
10 yr
1/
2-1/2* Treat' bond- 3/15/65-70
2-1/1** Treae. bond- 9/15/56-59
Certlflcate- 2/1/1*5
7/8*
Sixth War Loan aeourltiea!
10/23/Mt
(9/15/1*3)
(9/15/1*3)
12/1/1*U
Fifth War Loan aeourltiea!
u/iuM
(10/15/U3)
V
'
Fourth War Loan seouritlea:
11/22A3
(9/15/1*3)
(9/15/'»3)
..(9/15/1*3)
19^*3.
•«
26 7r,3 a
10 yr
2 yr,9 a
1
(21 yr,3 a)
(
yr
1 yr,l a
(21 yr,3 a) 12/
26 yr.3 a
8 yr) 12/
10 yr
(
2 yr.9Bl2/
1 yr
1 yr
1
12/1/51*
8yr)
yr
"Treatury
EoTlaed.
In tbe oaae of tbe reopening of a proTloualy offered tecurlty, tbe
period to flret call and to mmturlty are o&lculated from tbe date
interest commencee on the reopening.
Beatrlcted Itauea are those vhlch commercial banke (defined for this
purpoie aa banks vhlch accept demand depoalts) are not permitted to
(l) concuracquire prior to a specified date, vlth two exceptions:
rently vltb the fourth, fifth and Sixth Var Loans, commercial banks
Issue
offered
In the
vere permitted to subscribe to tbe restricted
Var Loan for limited InTeatment of their eaTlogs deposits; (2) commercial banka may te^orarlly aoqulre restricted issues throufb
foreclosure when such issues bare been used as oollateral.
Coaalsta of all public o«ab aubaorlptions and of subscriptions by
ii/
3,i*l*7p
7.922P
1.550P
1/
7.922P 1/
I.55OP 1/
i*.395
l».395
3.1*16
1/
3.l*l*7p
"
2/
7,922p
1.55OP
_
l».J95
1/
3,Ul6
12/1/5U
7Sor
^?^
7Wr
5.01*3
5.OU3
<.lU7p
l*.ll*7p
U/
11/
OoTsrsment agencies and trust funds.
Reopening of preriously offered security.
Interest commenced on October 15, I9U3.
Announcement of exchange offering was Included In announcaaent of
Third Var Loan. August I6, 19U3.
Tigures on amount of Var Loan securities issued consist both of
amounts issued In connection vlth the Drire, and of aaounta Issued
concurrently with Drire to U. 3. Ooremment agencies and trust funds
and to commercial banks.
Interest coanenced on Karcb 13* 19Mt.
Interest commenced on June 26, l^W.
Interest coaoencsd on Septanber I3. IS'^*
This is the same security that vas offered in tbe Sixth Var Loan.
txchanged as of December I3. 19^^ and accrued interest ebarged froa
December 1 to December 15*
Amounts not yet aTallable.
U.
I
w
3.>*i*7p
9>
Treasury Bulletin
32
Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States
Date of
refunding
fop exchange
traneact ion or
of retirement
for caah
traneactioD
Amount of
Description of called or maturing
•ecurlty 1/
maturing
or called
security
(Date of lasue ia shown In parentheses)
Amount
for cash
retirement
Amount
exchanged
Percent
exchanged
Description of nev
security offered
outstanding
(In millions of dollars)
3/l5/'43
3/'t^
Sp,
5/l/'»3
3/11^
6/15/U3
6/15/U3
Treas. note -
3/15/lt3
(3/15/'*l)
66
66
Certificate-
5/I/U3
(9/21/112)
1.506
289
132
8
1.373
282
91
97
1.795
11*0
1.655
92
1*51*
U5U
OOC note
-
5/1/1*3
(S/l/to)
Totals for exchange transaction of 5/I/U3...
7/15/'*3
3-3/8* Treas. bond 1-1/8* Treas. note 1-1/8* HK note
-
8/2/1*3
9/l5/''3
7/8*
1*
Certificate Treas.
note-
32"*
8/1/1*3
9/15/1*3
(8/15/1*2)
(6/15/1*0)
.609
53
279
1,556
97
7/8*
279
(IO/I5/33)
,liOl
239
1,161
83
2-1/2* Treas. bond - 12/15/61*-69
Treas. bond - 9/15/51-53
2*
(11/2/1*2)
(12/1/1*2)
2.035
3,800
96
260
1.939
3.5"«
95
93
7/8*
7/8*
Certificate Certificate -
10/1/Ul*
(12/15/38)
1*21
1*21
96
.90*
Trees, note -
3/l/"*5
2/1/''''
(2/1/39)
111*
111*
2/1/"*
(2/1/1*3)
2,ai
81*
2.127
(3/15/31*)
(5/15/3"*)
95
835
571
779
19
130
76
705
559
6oU
1.223
3-1/1** I7H0 bond
3/15/l»'t-6U
WMC hond
arc note
HOLC bond
3-1/1** Treae. bond
1*
Treas. note
Treas. note
3/1**
5/15/UU.l,9
''M/^
•
•
(7/3/W)
5/l/l,l*-52
(5/1/3"*)
U/15/UU.fi6
(lt/16/3't)
3/15/"*"*
6/15/"*"*
(11/1/39)
(6/15/39)
Totals for exchange transaction of 3/I5/UI*.
lt/l/l*l*
S/l/ltU
8/1/1*1*
9/l/l*l»
9/15/1*1*
7/8*
7/8*
7/8*
7/8*
Certificate
Certificate
Certificate
Certificate
3/U)b
Trees, note Treas. note -
1*
W"*"*
('*/15/"*3)
8/1/1*1*
(5/l/"*3)
(8/2/1*3)
(9/15/1*3)
5/lM
9/1/1*1*
9/15/"*"*
(1/31/1*1)
9/15/'*"*
(12/22/39)
Totals for exchange transaction of 9/15/Ul*.
10/1/1*1*
7/8*
12/1/1*1*
7/85S
12/15/1*1*
2/1/1*5.
U*
U/1A5
3A*
175
.519
515
296
1*16
so
98
78
81
65
"t.729
810
3.919
83
5.251
1.655
37"*
l*.877
93
3H
3.691*
-
5/1/1*5
8/1/1*5
1(28
98
99
90
Certificate
Certificate
Certificate
Certificate
"*/l/l*5
2.5"*5
l*,122
1.615
2.511
7/8*
7/8*
7/8*
7/8*
-
1*0
635
283
33
98
602
185
It
1*
Treas. note -
3/15/1*6
918
130
788
86
3,1*92
3,1*16
99
96
7/8*
Certificate -
IO/I/U5
.90*
Trees, note -
1/1/1*6
1-1/1** Treas. note -
9/15/1*7
3.519
27
3.5''0
121*
(12/15/21*)
1.037
126
911 r
1*00
.6U9
"*12
17
395
92
96
Totals for exchange transaction of 2/1/1*5...
5.'t6o
1*16
5.01*3
92
2,127
718
1.606
13
2,109
225
1*93
69
60
1.51*6
96
U,l*5i
30"*
"*,ll*7
93
As/iAh)
(2/1, ...
Certificate-
U/1A5
(It/lM)
Beck Figures: For period December 19l*l through February
"Treasury Bulletin" for UoTember igUl*, page 33.
r
Revised
19"*3
y
"*,877
see
1/
2/
^/
1/
9/1/U5
Treas. bond - 12/15/52-51*
2*
2-1/2* Treas. bond - 3/l5/66-712/
5.01*8
(3/l5A0)
_, ..
(9/25A2)
Totals for exchange transaction of 3/1A5...
9/15/1*8
270
(12/1/1*3)
3/1A5
3/15A5
..
,
3/15A5
3/15/65-70
1I&
(IO/I5/U3)
.,
9/l'i/56-59
9U
(2/1/"*"*)
Trees, note -
2-1/U* Treas. bond 2-1/2* Trees, bond 1-1/2* Treas. note-
1*83
10/1/1*1*
2/l/"»5
2/l5/"*5
12/1/1*1*
81*
(7/21/ltl)
Treas. note1-lA* Trees, note -
7/3*
12
12/1/1*1*
Treas. bond - 12/15/l*l*-5l*
Certificate 7/8*
1-1/8* ceo note
.90*
3/lA5^
CertificateCertificate-
8/1/1*1*
629
32"*
1-3/8* FPHA note
Certificate 7/8*
•
Certificate -
629
Certificate- II/I/U3
7/8*
Certificate- 12/1/1*3
7/8*
1-1/8* Treas. note - 12/15/1*3
3/15/1*1*
5/1/1*"*
(VlT/W)
10/15/1*3
12/1/1*3
12/15/1*3
3*
1*
3*
-
(6/15/27)
(6/15/38)
3-1/'** Treas. Hond - 10/15/1*3-1*5
2/1/W*
Certificate
6/15/1*3.1*7
6/15/1*3
7/15/1*3
10/15/1*3
2/1/1*1*
7/8*
7/8*
Certificate
2/1/U6
7/8*
Certificate
3/lA6
7/8*
Certificate -
U/1A6
99
y
Original call and maturity dates are used.
Not available to commercial banks.
Ajnounts not yet available.
April
1945
6
9
8
7
33
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(Amounts In mllllone of dollars)
Description of nev lasoe
Date of
Issue
Amount of bide accepted
Maturity
date
191llt-7eb.
3,
19UU-May
>^.
Tab.
10.
H^
U.
17,
2U.
May
May
IS.
25.
Kb.
Teb.
Mar.
Har.
Mar.
Har.
Mar.
23,
30,
Apr.
Apr.
i^r.
13,
20.
2.
9.
16,
6,
^r.
27
May
Hay
Hay
Hay
U.
U.
18.
25.
June
June
June
June
June
1.
S.
15.
22.
29.
July
July
July
July
June
June
June
June
June
July
July
July
July
toe.
Aug.
tug.
in«.
toe.
Sept.
Sept.
Sept.
Sept.
1.
8.
15.
22.
29.
6.
13.
20.
27.
3.
10.
17.
2>t.
31.
7.
lU.
21.
28.
Bonlier of
da^
to
maturity
91
91
91
91
91
91
91
91
91
Amount of
Ude
tendered
Total
amount
Amount on
eoopetltlve
basis
2,551.6
2,3lU.9
1.979.2
1,002.3
1,005.7
1,012.7
1.007.7
930.7
927.8
9U1.3
932.5
2,151.5
1.007.1*
2.1*50.7
1.035.5
1,016.1
1,001.1
1,009.7
936.3
969.5
951.1
937-1
95U.5
2,1*59.2
2,095.1
2,llS.7
1,976.7
1.015.9
9a.3
2,11*9.7
1.017.1
1,206.9
1,206.3
966.6
2,172.7
2,170.2
1,11*8.0
1,11*7.0
i.aU.i
1,157.1
1,002.3
1,005.7
1,012.7
1,007.7
13.16U.5
13.365.8
13.559.3
1.958.1*
50.5
59.0
59-3
57-0
1,887.1
1,990.1
2,193-9
2.173.8
2,308.9
i.a5.3
l,l6l*.6
50.7
1,007.1*
13,973.7
1,202.6
1,201.0
I.ISO.O
52.6
52.3
lU, 11*0.8
ll*.325.7
i,ai.6
1,156.5
1,207.8
l,l5l*.9
55.1
52.9
1.035-5
1.016.1
1,001.1
1,009.7
2,215.1
1*8.8
91
2,in.i*
l,2ll*.l*
1,158.2
5U.U
59.7
56.2
1.007.7
l.OlU.S
1.013.U
1.015.9
lU, 91*3.0
1,11*9.1*
91
1,216.3
1,203.8
i,ao6.6
1.167.1*
2,0l*2.3
2,07l*.3
2,010.1*
i.aU.i
i,ao.9
1,156.6
1.150.3
1.W3-7
1.017.1
1,206.9
1,206.3
i,ai*.i
i,ao.2
1.153.2
57.5
60.6
62.0
61.9
57.0
15.720.9
1,205.8
1.209.9
1,161.9
1.151.3
1,152.5
1.161.5
1*5.0
1,202.6
1.201.0
1.161.9
1.253-9
1.254.I
56.1
58.7
91
91
91
91
91
91
91
91
91
91
92
1,11*8.7
1,762.1
i,ao6.9
2,005.1*
i.aU.8
i,a5.5
i,a8.2
U.
13.
19.
26.
19U5-Jan.
Jan.
Jan.
Jan.
91
90
91
91
2,308.0
2,197.0
2,183.9
2.356.3
2.
Iteb.
?eb.
Teb.
Teb.
Har.
2,21*0.9
2,29*.!*
1,311.0
9.
1,932.1
2,078.5
2,061.8
1.300.6
1.313.5
1.203.7
1.21*7.7
1.
91
91
91
91
91
1,262.1
1,138.6
8.
15.
22.
29.
91
91
91
91
1,971*.
i,9ii*.i*
l,aoU.9
1.207.0
2,01*0.8
l.a7.2
1,868.2
1.202.3
1.137.8
1.135.0
1,151.0
1,152.8
91
91
91
91
2,1*65.0
2.157-''
1,201*.
Not.
Hot.
BoT.
Hot.
Hot.
30.
Dec.
Dec.
Dec.
Dec.
lU.
21.
28.
Har.
Mar.
Mar.
Mar.
19l»^Jan.
Jan.
Jan.
Jan.
k.
Apr.
.5.
11.
12.
2;.
JtfT.
12.
19.
26.
feb.
Tab.
Teb.
Teb.
16.
2l*.
7,
1.
8.
15.
23.
tfi.
ipr.
May
Miy
May
May
1.
8.
15.
Zi.
3-
10.
17.
2k.
on new Issues cose from Public Debt
Issua and total bills outstanding are on
basis.
Back ngurcs: Annual Beports of the Secretary of
1/ Coaasnclsg vlth ths offsrlog of Treasury
Bource:
Oftta
13.113.0
13.137.1
13.153.1
13.1M8.6
13.1U7.3
2,131.1
91
91
91
91
U.
1.000.2
1.005.5
1.011.0
13,151*.!*
7.
lU.
21.
28.
18.
25.
fc.i
63.9
55-2
5U.6
2,028.1*
Doc.
Dae.
Dee.
Dec.
5.
1,006.1*
1,011.1*
13.11*0.1
Sept.
7.
Sept. lU.
Sept. 21.
Sept. 28,
Oct.
Oct.
Oct.
Oct.
ielo
1,000.2
1,017.2
1,016.9
31.
Jaxg.
2.
1,001.3
1,008.7
13,100.5
13.101.5
13.113.0
13.112.0
l,0ll*.8
91
91
91
92
91
17.
2U.
75-2
1,001*.
55.5
9.
16.
2U.
30.
3.
10.
1,002.6
71.'*
1*7.0
1,007.7
Hot.
Hot.
Hot.
Hot.
Hot.
Aug.
tag.
iag.
tag.
27,
71.6
77.8
960.7
959.0
959.5
1,997.8
1.9?7.7
13.
19.
26.
5.
Total bills
outstanding
(as of date
shovn In
first column)
l,Oll*.j
1,013.1*
91
91
91
91
Oct.
Oct.
Oct.
Oct.
6.
13,
20.
Amount on
fixed-price
basis 1/
Amount of
maturing
issue (as
of date
shewn In
first eoluan)
91
91
91
90
2,001.1
2,033.1*
1,851.6
1,831.6
2,088.3
2,2l*l*.5
2,198.2
2,195.0
2,056.7
2,027.9
1,891.8
1,888.0
Serrlee; nount of maturlac
Dally Treasury Statement
the Treasury.
bills dated May 12.
191*3.
i,a8.o
1,312.6
1.313.9
1.308.9
l.31i*.3
1,11*6.9
1,11*8.1
51*.
63.5
63.1
56.7
13.7^.8
ll*,
536.2
ll*,73l*.l
15.132.3
15.325.1*
15.523.9
I5.72l*.9
15.72U.3
15.720.x
15.715.0
15.719.2
15.733.1
15.737.0
1,207.8
15.7'*7.'»
i,a6.3
15.7U9-1
15.857.8
15.965-1
16,059.6
1,203.8
1,206.6
50.1*
i.aU.i
52.6
52.9
51.1*
1.210.9
1,205.8
1,209.9
65-11/
i,ao.2
l6,itol*.5
67.1
72.0
66.2
1,206.9
i.ai*.8
16,1*1*9.8
16,1*1*2.0
i.a5.5
i,a8.2
16.U27.6
1*9.1*
1,303.0
1,302.6
1.153-5
1.227.1
1,229.2
51-5
75.9
1,318.1*
1,21*8.1*
69.9
1.315.8
1,310.2
1,300.1
1.308.7
1,258.0
1.252-7
l,2U9.8
57.8
57.5
1, 21*2.7
13. 11*9.7
i,ai.6
i,ai*.i*
1.251*.
1,260.6
1.261.7
i.a5.3
13.150.7
16.156.5
16.259.9
l6.35'«-7
16.1*58.3
16. 1*1*3.7
1.218.0
1,312.6
1.313-9
1,308.9
16,1*1U.7
16,1*05.1
1.311.0
I.3IU.3
1,300.6
1.313-5
16,1*08.1
16, 1*01*.
16,1103.5
16,393-9
16,1103.3
16.398-7
tenders for bills In the amount of $100,000 or less from any one
bidder vers accepted In full at a fixed pries of 99-905 per hundred.
This amount was increaeed to $200,000 or less coaeeaclng with the
offerlBc dated SoTaiber 30, 191*1*.
Treasury Bulletin
3^
Offerings and Maturities of Treasury Bills - (Continued)
Table 2.- Prices and Rates of Treasury Bill Offerings
Competitive bide accepted
Total Mdfi accepted
S&te of
IsBoe
Hl^
Average
price
per hundred
erera^
rate 1/
per
Iflmflped
19l*U-?el>.
Lov
Xqal7alent
Squlvolent
rate
1/
Price
per
hnndred
S<IiilTaleBt
rate
1/
.. .
U
U
..
..
35
1945
April
UU
59
7
Sales and Redemptions of United States Savings Bonds
Table 1.- Summary of Sales and Redemptions, by Series
(Ib
illlont of doUaxi)
BadavptlODt
8alaa
71«oal year
or month
Aaount
ontatandinc
and of
flaoal yaar
or aonth 1/
Bat chanca
durl&c
flaeal ^aar
or aoatli
Salaa to
iBTaatora
othar than
ooaaarelal
banka
All
62.0
316.1
799.6
1.237.7
1,868.1
1935.
1936.
1937.
193«.
1939.
62.0
62.6
25!'. 1
26I1.0
'W3.5
U38.0
630.5
512.6
187.5
6«U.5
tnif
8al«« to
co^aretal
^aaka
Accrual
of
radasptloa
aluaa
1
i
i
-5
.5
11-2
56.2
66.6
82.0
11-1
110.8
3-5
II12.8
!'
207.
200.9
8ll«.3
8I1I.3
2.370.9
2.357.8
6.5
7-0
13.1
17-5
17-6
isu.e
268.1
183.7
266.8
1.1
1.3
21.6
237.1
278.9
2U7.6
235.8
277.2
2I1.5
33-5
21-9
30-7
226.9
278.7
283.0
225-'l
5.9911.1
11.788.7
15.'t97.7
11.788.7
15.139.5
31.515.2
31.973.8
2,6lll.2
2.781.5
709.1
2.700.9
705.0
80.6
737.0
7U8.U
1.5
2.2
76.8
18.
1.765.11
2,089.0
600.0
691.1
36.1
2.U
1.0
19UU-r«1>n>i]r.
Maroh
U58.6
32.U96.8
32.987.0
523
Itaj-...
June.
311.606.1
1,619.2
738.5
750.6
1.8U2.2
Jnl7
Ancuat ....
3«. 537.8
1,931.6
2,125.1
36,883.5
37.323.3
3li5.7
l<39.8
October.
HoTember.
December.
37.6irt.7
321.
663.6
19U3-Jaouax7.
Febroapy.
1*1,1140.3
April.
Saptanber.
38,308.2
(0.360.8
111,698.2
1190.2
602.
692.1
U.l
It
695.0
6911.ll
.6
1.023.U
2.385.8
999-7
2.353-5
23-7
2.052.6
1,07>1.2
1,0711.2
8lt8.0
81t8.0
779.5
557.9
32.11
-3
1.1
2.0
1118.1
1,1192.11
5.9311.1
358.1
80.0
III1.3
I.I192.U
5/
m
112.1
1,108.7
1,1109.3
5.87U.2
11,068.0
13.390.0
19U1.
2/
65.0
87.5
127.6
223.2
1.036.6
u.3iii.o
10.188.2
21.256.2
3U,606.1
19W.
aoenad
1.2
7.2
17.1
28.0
I9't2.
2,90U.7
Intaraat
ll
191a.
19I10.
OrlfflDAl
purchaaa
prlca 2/
26.9
22.6
32.0
I1OO.6
U6.7
33.0
3lll.ll
1.2
7.2
17.1
28-0
11.2
36.2
66.6
82.0
2I16.I
276.9
281.2
398.2
1:1
1.5
1.6
1.8
1.7
2.U
382.
^
365.3
%
3231
Seriea il-S 6/
62.0
62.6
264.0
512.6
.5
1935.
1936.
1937.
1938.
1939.
62.0
316.1
799.6
1.237.7
1.868.1
25I1.1
1183-5
I138.0
630-5
6811.5
19110.
19I11.
2.9OI1.7
1.036.6
,108.7
3.650.2
828.0
19I12.
3,6oli.2
.8
19113.
3.605.0
.8
.1
19'w.
3.62lt.8
.1
.1
3,62U.2
3.62U.9
19l|l|-rebn*r7'.
March
April.
May...
June.
3,62U.8
3.8
16.8
1
II87.5
i
V
828.0
.1
.9
.7
i
110.8
lll2.2
132.7
88.2
n
79.3
126.2
81.8
71.7
7.8
7.2
6.8
6.5
6.1
5.9
.7
.7
6.5
5-3
8.2
6.5
l\
!;i
.7
.8
.7
11.7
6.8
6.6
5.5
6.0
-1.9
Jul7
An^nat
Septeaber.
3.632.7
3.63U.2
3.636.2
7.9
1.6
2.0
October.
Ho member.
December.
3.637.2
3.636.3
3.638.0
1.0
6.7
-.9
n
19ll5-Janaar7.
februarsr.
3.6I15-O
7.0
2-3
8.1
7.5
l>t.9
8.3
Serlea I
19112.
19113.
19W1.
igUl-rebnaary.
March
April.
May...
J\ine.
July
Au^et ....
September.
October.
HoTember.
December.
19l*5-.Jaauary
.
.
februaiy.
203-1
3.670.8
11,286.6
21,12U.8
203.1
3.167.7
7.615.8
9.838.2
18,8111.7
1.950.8
19,185.8
3I1U.1
J!/
5.0
\\
6.7
8.0
6.0 1/
8/
U.8I9.7
2,102.3
575.«
2.102.3
575-8
9-1
160.7
160.3
.It
9.7
2ia.it
2)10.8
.6
lll.2
212.9
212.2
.6
12-1
2"19.7
2118.8
.8
15-2
219.7
218.9
196.3
19.592.8
19.979.5
I107.O
605.7
386.7
62ii.3
21.12<i.8
I.II15.3
1.3119.8
1.3l'9.8
33-1
118. U
60.0
688.6
2.099.9
60-0
688.0
.6
2.0911.7
5.2
1.5
.8
.8
1,686.5
1,686.5
"99.li
It99.lt
17.3
13.0
590.8
590.8
21.9
g:^7
598.6
8O6.8
1.855-3
18.
372.5
353-6
333.7
351.-9
1.6r
1.7
1.5t3.8
598.6
806.8
1.855.3
332.0
l.S
527.
386.1
8O3.8
653.2
CO3.8
653.2
305-9
290.5 1/
30U.1
288.8
1.7
1.7
357.9
23.501.7
23,970.8
2ll>).9
25.51''.5
26,0111.9
26.1128.0 II
7.5
203.1
3.526.3
8.271-3
11.819.
20J.I
3.526-3
8.271.3
605.7
62U.3
22.632.3
22,898.9
23.256.9
3-5
HI1.3
II17.5
1-9
191a.
1.1
2.0
65.0
85-9
92.0
96.0
3.62U.8
3.»*7-3I/
.3
65.6
80.0
I12.I
3.6S.9
1-7
• 5
11.1
1169.0
(Contlauad on fellwlac »*f*)
15.8
22.2
29.lt
23. ll
^:?
253.7
370.9
1.0
1.1
Treasury Bulletin
36
Sales and Redeniption0 of United States Savings Bonds
-
Table 1.- Summary of Sales and Redemptions, by Series
(la
-
(Continued)
(Continued)
BinioBt of dollui)
Reda^tloD*
Sal«t
Aaount
Tltcal 70ftr
or BOBth
outataodittf
•nd of
fltcal ya&T
or Bonth 1/
Set ehttac*
dorine
fiscal TMT
or aoath
fotal
S«1«B (e
iBTBtkers
oth«r than
ooanorelal
unt*
66.6
-»66.6
IS"*?-
1(98.9
1, 242.3
7'»3-'*
13m.
1.995-7
19U1.
19US.
Salca to
ooaiorolal
bank*
Aeenial
of
66.7
U3W.9
757.9
691.2
1J2.T
21.7
.2
2-5
8.8
151.7
I57.l»
l,«6o.6
•H7.0
22.9
iprll.
Hay...
Jose.
1.575-8
1.885.9
1.995-7
15.2
10.0
19.3
15.3
115.1
lk.6
.2
.7
•4-109.8
89.1
26.0
1.0
1.1
July
2,091.2
2,102.3
2.113-3
95.5
11.0
11.0
101.1
17.8
16.0
88.3
17.0
15.8
12.8
1.5
Docembar.
2.121.5
2.158.5
2.277-6
37.1
119.1
19>»5-Ju\uiy..
Tabruazy.
2,3lU.6
2.338.0
Saptanber.
October.
8.2
37 -0
23.
>»
Xntorott
accroad
2/
» J/ 3/
66.7
U3U.9
757.9
80e.2
1.8't3.7
in^tt
purehat*
prlct 2/
Talnat
Maroh
19UI»-r«bra«z7.
Orl^nal
r«daHf>tloa
19.1
13.7
'W.7
]U
iait.7
llH.l
U2.0
30.7
l»2.0
2U.7
1.3
.7
n
.9
5.0
.6
.8
.9
.1
l.U
l.U
loiS
2.U
1-3
30.7
2-9
17.0
57.7
2-9
17-0
57-U
e.u
7.1
7-1
7.6
6.3
6.8
6.9
7.0
^•^
8.6
6.7
^
%
%
%
8*rlM 03/2/
19UI.
39'».0
19>I2.
I9i»3.
,U1U.3
,U9.2
39U.0
2,020.3
2,70U.9
19UU.
.860.8
19V»-7abruai7.
March
,205.6
39>*.6
39>t.6
.5
2,032.1
2.759.5
2,628,5
11.8
2.71(1.6
2,032.1
2.759.5
2,875.6
510.7
96.8
5a. 7
UO.3
1(65.9
302.lt
iprll.
7.to3-3
100,8
Majr...
.Jima..
7.1*98.7
95."»
7,860.8
362,1
July
8,181.6
JUlSUBt
8,2lie.l
Saptaabar.
8.317.0
Octobar..
HoTeobar.
Daoombar.
8.38U.2
19U5-Jainiat7.
Tabmaiy.
&
2/
5/
8,51(2.6
8,930.6
9.138.8
9.28H.9
21(7,1
l3i(.o
• 5
11.8
5U.5
134.0
107.6
55,8
2.8
11.0
13.5
11.0
13.5
113.5
111.1
377.3
112.2
109,6
326,5
1-3
1.5
50.7
12.7
15-7
15.1
12.7
15-7
320.8
66.;
<8.9
337.5
•5.3
85.3
31)t,2
'\\
16.7
18.8
.8
l6.lt
16.7
18.8
I6.H
67.3
158.3
588.0
82.8
173.9
>«5.9
82.b
158.5
15.5
15.5
17.9
15.5
15.5
17.9
208.2
228.3
228.3
11(6.1
I6I1.I
l6i(.l
ao.i
18,0
20.1
18.0
Dalljr Traaaory Stataaanta.
Earlied.
Uas than $^.000.
It currant r»datq)tion raluet ezoapt Sarlaa 0. irtileh la atatad at par.
Xitlmatad, except for Series 0.
Tbr dataile concerninf InTeetoent jrlelde and radenptlon Talvaa. aa«
"Treaeury Bulletin" for August I9U3, pa^a U.
Oonnerclal bank purchaiee vera parmltted prior to iprll If 19^1
and are estimated to hare agerefated about I3OO aUliona.
Vot yet available.
Series A^D. eold between March 193^ and iprll I9UI, are 10 jraar
dlecount bonds eold at 7^^ of maturity Talue, yielding ?.90^ par
annufli if held to oaturity; purchaeee vere limited to $7>500 ieen*
price in any calendar year and fron April 1, 19^> could be aada
only by Indivldaala.
There were $6U,3 millions of Serlee A-D and I eavincs bonds r»deeaed thronch lebruary 28. \%^^ irtilob had not bean Idantlflad by
esrlee.
Ibr purposes of this table, It has been asemad that all
of these ware Serlee X bonde.
Series I, on sale elnee May 1. I9UI. Is a 10 year dlecoxmt boad
old at 7^ of maturity ralue. yielding 3.90^ per annua If held
81.7
86,5
3IU.I
^
5i».5
A
15.H
21.8
15.1
to aaturlty; purchasss are limited to $3.7^ iseue price in any
oalondar year and may be made only by indirlduala.
Series 1 and
bars bean on sals since May 1, I9UI.
Series T Is a
12 year discount bond eold at 7^^ of maturity ralua, yielding 2.53^
par annua if held to maturity.
Serlee
is a 12 year currant incoaa bond, sold at par. bearing Interest at the rate of 2-l/2l( per
auBua, radasaabla at par on aaturlty or at stated pricss Ises than
par before aaturlty. Purahasss of Serlee 7 and
combined In any
one calendar year are limited to $100,000 Issue price ($^,000 In
calendar year 19^1).
Ihiriog the calendar year I9UH conerolal
banks were permitted to purchase Series 1 and
bonds under csrtaln
conditions. Limitations on neh purchases for the period Januar7 1.
I9UU through lorember 19. 19^*. were deecrlbed In the "Treasury Bulletin" for December I9UU, page 36, footnote 9. The limitation on
eoaaarclal bank purchaeee for the period Soreabar 30. 19^4 through
Deoaabar 3I. 19Ult vae |100,000 proridlnc that total holdli^s of
Serlae 7 and
bonds, 2^ Traaeury bonds of 1952-^U, and 2-l/2i
Trvaaury bonds of I966-71 did not exceed 10^ of the coablned aaomt
of tlaa certlfleatas of deposit of indlTiduale and non-profit corporatione or associations and of aarlngs deposits, or I50O.OOO,
irtdcheTar wme less.
—
.
9
3
7
. . ...
.
uU
8U
Ug
g
UU
U
37
1945
April
3U
au
8
u
Sales and Redemptions of United States Savings Bonds
(Continued)
-
Table 2.- Total Sales by Series, Classified by Denominations
Sales In allllons of dollar! at laene price
?ltcal year
or ooDth
Total
Percentage dlatrlbutlon of ealae
Denomination
all
denomin&tloci
»10
y
50
«9
$100
$10,000
Denoal nation
$25
$50
$100
$500
$1,000
100.0
100.0
100.0
100.0
7-1
17-5
36.1
35-1
6.5
9-7
13.1
13-9
20.
20.0
18.1
12.2
11.8
1.6.0
100.0
ICO.O
26.1
11.
1I..8
U7.6
17.9
5.2
23-1
7.6
100.0
100.0
100.0
1.8.1
277.5
17.6
17.8
12.9
6.7
6.U
13.0
9.9
9.0
19-9
309.2
51.7
59.5
100.0
100.0
100.0
tl.OOO
«500
Total
all
denoBlaatlODs
$5,000
I
$10
$5,000
$10,000
Serial S
lU.U
1(0.7
93->l
Ul.U
13-3
3UI.5
615.6
812.7
636.9 1,119-5
2,988.2 1,081.0 1.713-8 1,007.3 1,U81.0
U.iUg.i 1.6U2.5 2,583.5 1.396.9 2,OU7.g
203.1
3.526.3
g. 271.1
11.S19.7
igUi 2/.
19U2
19M
19WI
19UU-/e*niary.
Hareh....
iVrll.
2,102.3
575-8
51.8.9
27't.3
2U7.5
102.9
125.3
312.0
29.7
til
291.3
305-9
U02.2
106.7
110-8
17U.2
107.6
111.2
309.0
39.9
186.
526.5
221.8
277-1
2U8.i
89-8
106.3
38U.I
95.9
107.6
2l6.lt
281.9
301.2
109-3
126.3
36.6
8U.5
52-3
12U.3
233.1*
108.8
165.5
U57-6
288.3
W2.3
100.0
100.0
100.0
12U.7
112.0
153-5
118.2
77.3
50.8
116.1
98.3
100.0
100.0
19:1
2U.3
21.. 9
2.0
27.5
i».6
M0.9
13.2
123.6
210.1
213.3
June..
1.3't9.8
JWy
l,6g6.5
1.5
ia^st ....
U99.it
8«pteBl>er-
590.«
-1
October.
VoTeabar.
Deoeaber.
59«.6
806.8
1.855-3
9.6
19lt5-Januar7..
803.8
653-2
6.0
I*.
7
Tebroary.
2/
66.7
19^2 2/
19U1
191A
U31..9
191*1
757.9
802.2
l:\
296.2
269.1
1.3
"».o
5.6
508.
to.
^:
59.9
56.1*
12.3
91.7
170.2
162.7
38-3
171.1
30s.
35U.8
82.5
it.5
8.9
6.1
t.7
28.5
3.9
3.0
2U.2
6.9
29.9
5.8
5.3
22.3
3.7
3.5
u
2.3
7.5
5.0
12.7
79.8
3.2
9.7
28.8
•43.1
1.9
1.3
6.3
i57.lt
1.1
22.9
-3
1.7
1.1
7.1
1.5
Inrtl
Hay
Jttw
19.3
15.3
115-1
•3
.2
.9
.8
.7
2.8
1.2
1.0
U.9
Joly
incast
Sapteaber.
101.1
17.8
16.0
.8
.2
3.0
5.7
October. .
loTeabar.
Seceaber.
13.7
U2.7
12U.7
.7
Uz.o
30.7
l.U
9
-9
.8
•
U3.6
28.3
19UU.rebruai7..
March
19U5-JanQar7. ..
TebroaiT-'
1185.3
.9
5^:1
39.lt
.5
J:i
.3
6.8
22.
5-1
16.9
100.0
100.0
100.0
100.0
1.9.0
32.6
.6
.3
31-7
17.9
17.3
12.8
lg.3
lt6.9
lU.8
18.0
18.0
19.2
18.2
v\
10.
10.1
U7.1
37.3
25.2
18.3
15.7
12.6
18.2
20.5
2U.7
6.1
10.5
15.5
8.7
15.t
21.7
15.5
17.1
19.1
18.1
9.6
7-g
18.2
It
Sill
1.6
23.0
20.7
21.9
3
• 5
.7
22.
1-3
U.5
3.3
3.1
15.1
19.8
18.
57.U
'4
28.
27.7
26.6
21.1
22.
20.3
39.
5.U
52.U
38.7
5-1
110.7
U1..2
3.0
5.0
n
21.
28.8
Ig.O
19.6
U.6
6.2
6.8
U.2
31-5
30.6
2U.8
20.
35.9
5-3
2-5
19.6
21.0
Ufi.'9
U.7
5.6
7.5
8.8
29.6
32-U
33-U
22.0
21.0
21.g
39.0
32.9
30.1
100.0
100.0
100.0
5.U
6.9
36-9
3.5
6.0
29-7
31-9
23.U
22.8
23.1
25.8
38.2
3U.6
100.0
100.0
3.U
2.9
U.6
U.2
a.
20-5
16.1
16.5
53-2
55-2
100.0
100.0
100.0
lOO.O
1.2
2-5
3-0
3.8
2.g
8.7
20.9
2g.U
29-2
32-8
18.2
20.0
19.1
18.1
56.9
U3.5
U1.9
36.6
u
8.2
8.6
27-7
3U-7
15.8
19.0
UU.6
3U.I
36.5
3U.0
19.2
19.7
I8.7
31.7
29.3
3U.5
UO.l
39.0
19.5
19.6
19.6
29.5
26.0
2«.l
19.3
20.3
29.U
29.1
21.1
28.1
1U.3
lU.U
90.5
52.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
-7
1-5
l.U
1.6
.6
3.1
Serlee
19U1 2/.
19U2. . .
19U1....
19UU....
19UU-rebruai7.
March
39U.6
2,032.1
2.759.5
2,875-6
521-7
110.3
U.2
S2.U
578.1
8O5.7
9U2.3
71.8
U06.2
526.3
520.7
22U.3
883.8
1.157-3
108. g
113.0
188.7
2U9.6
19.5
U.O
U2.5
9.5
1UU.6
38.3
82.7
20.9
232. U
37.6
100.0
100.0
10.3
10.0
33.8
U1.5
U2.7
a.
128. U
70.
3S.0
32-5
130.2
100.0
100.0
100.0
3-8
9.1
9.0
9.0
12;. 1
65.8
16.7
16.7
99-5
22.1
2U.0
100.0
100.0
100.0
U-3
u.2
3-8
10.2
10.1
9.5
16.0
35-3
89.8
2U.k
?J-5
100.0
100.0
100.0
3.9
9.3
9-2
11.2
38.1
UU.O
100.0
100.0
2-1
2.2
6.3
5-9
26.8
25-5
U.8
50.9
81.5
iprll.
May...
June.
113.5
u.o
lU.l
377.3
U.O
lU.U
July
Au^uet ....
Sapteaber.
337.5
85.3
85.3
lU.6
3.6
3.2
3U.U
8.6
8.1
34.2
33-3
October.
82.8
173.9
U05.9
3.2
6.6
19.7
7.7
16.1
U5.6
lUO.g
oraabar.
Decaabar.
19U5--Jaauary.
febnaxy.
U.8
3-6
228.3
16U.1
lU.
9^:^
§:5
61.2
U1.9
21.9
32.7
23.6
1,051..
115.
85.3
_L
Source.
•
1/
Iklly Treaeury Stateaente: (2) rigurea by denoalaatloae are eetlaated on the baela of reporte reoelTed by the
Treaeury.
Uee than .0^.
Sale of $10 denoalaatlon Serlee I bonde vas autbortaad la Joa 19UU.
(1) Total
eeleil
2/
y
It
38.
37.6
3U.7
Thla denoadnatloa la aTallable only to aaabera of the allltary and
naTal forces of the Onltel States.
Sales of Series I, T. and 3 bonds coaseaeed Kay 1, 19UI.
Sale cf $75 dansalnatlon Series T boade vas authorised la Decaabar
19UI.
Treasury Bulletin
38
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 3.- Sales, by Series, to Investors Other than Commercial Banks, Classified by States
PART A
-
SERIES E
(In thoutandB of dollars at Itvuo prices)
Fiscal year
l9*^
July
Aug.
Sept.
5.053
1,U12
2.351
6.731
1.829
3.100
7.272
7,613
1*.353
8.91*7
25.560
7.763
10,699
2,02l*
2.31*6
000
5.532
53.933
'.357
13.097
96.211
10,011
23.159
163.598
13.620
33.522
30U
2,809
10,316
56,1*1*7
51,600
3.725
12,269
12.1*10
3.0J3
1,391
7.871
8.526
3.177
13.991
11*. 392
3.610
23,267
21*, 986
1,382
1.556
l*.U26
8.61*8
5,81*9
7.877
1.572
7.706
8.326
8,1*03
ll*,232
2U,987
6,1*50
lli0,398
8.616
1.292
9,391*
5.159
76,625
6,02U
956
36,009
7.71*2
1.935
1.620
1*5.181
1*3.959
2,310
50,668
15.930
5.855
6,580
18.837
8.227
18,080
8,189
ll*,003
6.1*35
5.1*06
302
5.657
7.029
2.535
9.202
21.153
ifT.
May
5.699
2.075
2,879
7.111
2.098
3.037
8,107
2,096
3. 718
li*,3U3
182,91*0
17,1*60
1*1.593
1*5.970
55.636
3.86U
10,620
12.1*08
I*.
205
23,069
29.UU6
1,571*
5.1*83
1.383
8.127
7.856
191*3
19Ult
91.272
30,599
52.76'»
180
^^r, 252
71*. 176
63«.877
62.132
168,233
970, Uih
90.226
220,926
21,g2U
g3.lU3
89.M96
27.609
135.069
11*2.682
19^5
Fsb.
SMS.
Jan.
25.325
7.087
13.270
13.175
3.531
5.162
2.51*0
53.796
5.303
153.1*60
i>t,6so
29.1*80
77.690
5.758
16.613
55,36U
3.957
12,857
1.753
7.939
7.083
U,0l*5
2,091
1,51*1*
22,961
22,799
11.1*96
6,669
9.251
25.513
8.703
li*.115
P
Alabama.
Arizona.
Arkansas.
27,8l»6
California..
Colorado.
Connecticut.
.
.
Delaware
Bist. of Colufflbla
Florida
Georgia.
8,71*6
11*.
017
3. 911*
7.691*
1*1,
9U.52'*
27.81*5
11*5.933
1*0.230
29.91*7
Idaho.
Illinois.
8.957
1.121*
1.1*11
575.056
755.362
150.1*61
1*0. 050
1*3.782
1*2,
Indiana
213.813
313.591*
Iowa..
176. 508
263.1*1*5
106,190
163,077
15.538
9.538
7.257
19.232
9.773
Kansas.
58.283
63.579
36.095
19.661
8.877
7.202
19.625
S7.607
127.956
5.089
6.896
6.532
7.657
12.297
11*1.106
g.Oll*
llt.200
37.361
5U.99U
26,856
25.213
11,530
6.885
3lt.910
2.51*5
2,1*18
3.029
5.095
Maryland
Massachusetts.
Michigan
103,60ll
152.566
390,986
688,159
25,983
76,51*8
131.1*00
7,259
15.692
33.961
8.63U
20.881
33.122
9,01*5
23,21*6
16.630
38.237
71*, 137
23.996
60.670
95.01*8
6,969
13,802
23.516
1*1*.
Minnesota.
Mississippi.
Missouri
179.108
52.870
195.868
21*9,962
1*3.513
18.751
52.OU8
10,170
2,807
9.592
3,087
10,039
3.137
32,193
82,588
283,681
12,01*3
12,331*
751
35.11*5
37.573
1U.8I5
38.657
8.220
1.850
10.919
39.1*32
55.230
128.079
10,567
28,807
1,689
2,121
1.912
1*,706
5.3l!5
l*.7l*7
13.1*68
2,991*
567
563
627
7.830
16,098
1.323
32.722
7.195
75.393
1,025
1,1*1*0
21,1*97
23,1*26
017
1.^, 085
3.327
127.955
1U.021
7.970
.
.
Kentucky.
Louisiana.
Maine
280,091
1*81,637
.
—
.
Montana
Kebraska.
.
Nevada.
72.211
11.U66
.
6.952
7.880
6.61*6
3MO
33.829
11*.
29.519
50,160
3l*.856
1*2.133
2l*,U85
8.91*1
20,168
20,530
9.791
35.0I10
i*.5l*7
126.273
10.286
6.91*0
1*5.018
ltl*.805
1*6.1*02
91.1*38
2,26U
2,899
3.1*60
3. 551*
3.763
3.938
5.790
7,912
1.589
1.625
7.533
22.255
1,601*
7.982
20.791
2.655
76§
9,828
2,516
918
6,207
10,261*
18.927
31*.
13.799
5.977
10,768
I.OU9
333
33.171
100.530
306.265
53.8I3
.
.
Utah
.
Washington
Vest Virginia
Wisconsin
doming
.
Unallocated
Adjustment to
Dally Treasury
Statement
20,696
56.357
18,819
11,01*2
l,60U
021
189. 563
36,1*71
6U5
7,118
163. 92U
65.583
257.729
92.197
2U8.280
23.769
1*5.193
11,280
16.958
51.125
5.805
10,129
878
11,089
6.960
7.135
58.310
8,931
1,51*1
317
528
1*85
6,^2
157
538
U,006
l*,9liO
1*,795
1.71*6
2.1*35
1*09
958
69
39
38
59s
1*
29
6
Ut5
10
2
63,62U
58,U95
135
1*3
1*2
23
*90.737
225,856
7.397
Canal Zone
Bawaii
Puerto Rico
Virgin Islands.
Other possessions
995
llt.175
172,650
17,313
Alaska
1*91*.
8,91*1*
11*5.1*59
33.2U2
Vermont
Virginia.
11*7.296
10,099
26,586
105,358
11.338
6i.o66
5,1*22
203
It,
U.l*09
13,891*
1*,989
91*1
-95.133 29.091* +ll*,052 19,001*
3.073
8.985
22,290
28.058
7.61*3
South Dakota.
Tennessee.
Texas
8,680
23,889
106.31*3
71,091
15.551
16.571
ll*,l*17
9,896
3.893
13,1*1*9
999
1*3.338
IU7.6U6
11.198
51*2
19.881*
lt.697
39.912
5.395
60,858
76,058
IS. 000
I7.66U
UU,3UU
9.822
39.378
5.M02
6.806
857.1*00
1*2.1*22
l*.937
17.71*7
25.031*
1.1*68
53.71*8
53.1*01
1U.561I
lt.068
ll*.2lU
58.011
1.1*31*
626.051
10.71*1*
362
1,1*61
PennsylTania.
Bhode Island.
South Carollni
9.1*31
2.296
12.696
U.650
58,221*
159.752
38,1*20
2it,967
3«.3l*9
5.987
97.629
2U,!*65
67.337
7.281
28.783
29.055
9,630
20,936
t*5.602
22,71*1*
1,300
116. 9U2
13.012
12.585
I.U83
67.927
7.157
177
9.272
22.006
37.811
1.569
1.225
135.261*
8.785
20.815
35.817
23.1*28
53.991*
1*42
1.812
68,902
5,526
711*.
7.081
8,085
2,991
1.071*
21.01*6
1.091*
6.01*1*
82.1113
107.671*
9,803
11,120
3.956
6.529
21*2,271
506. 36U
9.0UI
576
27.990
Ohio
Oklahoma.
Oregon...
20.581*
2.559
l*.ltl8
1,290,035
30.398
11.317
17.31*1*
8,081*
1.856
17.2«1*
1*1*3
6,397
1*93
991.988
113.869
11*9,
6.873
8,337
2,660
1,290
New lork
North Carolina.
North Dakota
.
20.821*
10,727
21*. 030
16.T76
11.727
3.61*1
67.591*
211*.
13.1*52
9.157
1.581
W..675
50.216
28.277
22.070
7.105
1.623
23.752
1,092
.
1,91*0
16, 01*6
2.002
67.82U
2.756
25.787
303. 807
1*15.338
5.7KI*
IU.U77
7.935
3. 951*
118.1*36
21.21*6
Sew Hampshire.
New Jersey.
New Mexico. .
. .
I*.
It,
2.089
3.655
It.
51.071*
10.173
9.167
2,1*25
799
2.I2U
5,566
656
5.117
61,801
23.703
1.809
1,1*78
1.075
l,l*2l*
2.055
U.731*
2.827
36.712
1,685
70,067
7.195
1.315
71,31*2
70,01*3
213.168
27.985
11*. 276
129.977
13.650
2.6U1
78.972
9.009
1.925
1*2,132
i*.833
286
9.536
107.388
55.767
13.060
1*0.703
23.981*
5.937
37,327
5.906
7.379
7.106
8.1*86
27.853
10.61*7
39.o6g
1*7,888
1*9.31*3
3.723
3.21*0
59.677
3.125
i*,937
It.
538
1*,08U
12U.210
9.175
I3.8I6
63.61*5
2.1*17
2.1*87
1.1*95
1.739
7.775
8,1*1*9
21.1*51
35. 318
10.655
23.297
79.620
2.519
12.2U7
31*. 119
8.572
26.910
9.222
3.030
33.562
T.180
i.838
17.896
2.715
9U3
11.265
1)0.009
7.8«0
1.755
7.815
It.
718
1*1*.
5.729
6.552
7.06S
7.683
51.109
3.681
lt.636
7l*.871
1.182
5.316
16.019
7.365
20,335
9.080
3.16U
789
1.590
687
6.385
71*6
912
3,305
870
10.856
10,571*
9,838
27.579
9.589
38,856
15.369
10,1*63
l*,0l6
15.991*
12,71*5
5.1*96
lilt,15S
13.1*30
20.166
9.091
19.928
1U.760
5.650
13.269
91*9
966
15.711
1.177
1*2.282
lt,072
9.915
639
U.790
12.970
6,201
28.701*
2,251*
i*.391
1.791*
1.01*7
869
657
5.050
903
15
822
1*38
18
5.069
309
529
270
1,11*9
390
532
5.050
5U9
i^
212
535
11,965
5.ll*0
5.125
l*.727
296
6
313
1.275
909
9.060
2.885
108
8,221*
7.386
13,852
23.957
63.1*55
1.91*7
7,200
2,1*69
129
15
11
2.U76
321
5
11*6
3
12
11
2.1t71
3.052
17.191
8
11*.
229
1.61)0
1)62
7
1
20
122.879
-161*,
120
16.718
31.33£
-6,705 •107.108
17.087 -12U.612
-39
i
8,271,275 11.819,71*2 2.102.31*5 575.771* 605.709
52lt.
253 1,3'?,
79I*
1,686, f09 1*99.3571590.827 598.570
(Continued on following page)
506.817 1.855,300
803,819
653,222
...
1945
April
39
Sales and Redemptions of United States Savings Bonds - (Continued)
Table 3,- Sales, by Series, to Investors Other than Commercial Banks, Classified by States
-
(Continued)
PART B - SERIES F AHD & GOUBINED
(In tbouaandB of dollars at Iteue prices)
fiscal year
19UI+
19U3
19UU
Alaliaffla
32.007
5.829
1.928
887
826
Arizona
Arkaneas
1*23
1.37
16.57s
30.156
9.H5O
17.831
2,1*1*2
600
69U
258,108
30.678
1*3.51*8
9.868
1,276
8,887
5.I1O6
6't,U37
11,1*91*
2,1159
2.215
10,306
29.761
1,660
5.028
8.317
llOl
1*3
1.108
1,868
Apr.
May
J\ily
I9U5
kag.
Feb.
Sopt.
P
22h,lk5
California
Colorado
Connecticut
29.71*6
SI, 12s
]>laware
Diet, of Columbia
Florida
Oeorgla
Idaho
Illinole
12,326
33.757
36,705
1*0.1*96
37.831
8,031
272.112
7.630
236.291
79.52U
Indiana
lOWB
Eaneae
7l.'*32
3**.
Eentuclcy
Louisiana
Maine
897
1*1,958
82.311
106,397
W*,903
755
1*7,111*2
20,2U5
38,952
20.591
S5:
Maryland
Maaeacfauaetts....
I7l'.999
Michigan
106,363
Minnesota
Mississippi
Missouri
69,692
21,812
Montana
Nebraska
Serada
10.S29
30,U1U
52. ''93
11*7.625
lOlt.768
69,836
22.296
91.689
8lt,266
it.Ultl
Kev Eas^ shire.
Sew Jersey
Hew Mexico
. .
lU,lt03
8U6
282
t71
3.851
11,009
1.3911
l.'*97
2,9110
1.719
8,823
1,231
2.600
31.37I1
3lt,81l0
U,286
7,706
1*.050
6,2lt6
886
2.068
U56
1,083
1,580
1,205
It, 276
5.359
1,80 It
3,517
6,276
1,271*
1,123
1,098
5"7
3. "59
3,1*60
7.888
5.739
2.353
It. 169
U.U36
2,617
1.350
1.286
393
1.150
7.02U
17.887
111. 080
5.759
15.1169
1.906
3.560
2.732
't.153
1,1*85
U,U8lt
3.776
3,09'*
1.751
588
2.028
2.337
1.7''8
277
1,133
6.557
6,210
3.706
1,697
1,268
6U7
2.U16
1.322
785
1.896
8,378
25.356
2.335
5.198
1,781
1,828
2.738
7.288
20.21*9
1.181*
62I1
'*.332
2,663
380
12,12U
7.1*Sli
i,iio6
1*62
1.707
11.952
3.625
2,23'*
U,970
2.720
532
5,068
13.550
39.339
3.630
2.112
8.177
356
2.153
750
190
1*5
56
Ull
69U
57
356
1,220
158
563
3.509
19,326
1,267
521*
119
311
327
3.693
151
1,76«
13.295
919
1.796
'*.173
"73
3.891
613
3.158
116
U58
3,086
217
12,685
1,087
5U1
9,912
3,800
15,806
9.3'i5
'*.083
1*82
271*
2,671
1.321
1.965
1,623
5.2I1I
't.96U
2.600
7.866
881*
6u
1.259
811
PennsylTania
fihode Island
South Ceo-olina.
297.1*30
io.tei»
251,120
20,628
21.988
'*3.976
7,893
I.U76
930
9.680
1,012
960
8,200
13,222
39.186
117.537
2,271
29.326
3.337
3.298
6,01*8
23,2ll2
8.393
8,026
51.399
1.032
17.905
86,336
6.010
56.253
19.552
93.192
6.032
1.297
I.8U3
17,367
3.010
1.316
1.825
10,522
3.982
112
99
1
1*18
10
28
211*
100
5,181
657
4-20.381
211.381
3.319. 7U7
529
1.352
3,U89
198
13.1*69
1.121
'1.591
2,1117
3,ll«
9.538
6.886
27,03U
15,328
2,799
lU.679
5.289
9.1t39
10,303
3.106
2,5n
779
7.077
11.879
".827
l.lliO
1.658
6,088
U26
UUl
I.UOI
lis
3.376
535
^S
161
509
3.3'*"
868
6,758
I166
632
11.959
177
2.562
12.676
128
739
1,610
U,908
1U2
12,569
15.992
27.328
l*it,5l6
1.1120
l.llOO
2,lllll
2.959
1.799
68,563
6,812
2.183
3I.2U6
2.U80
U23
29,606
3,971
U.222
11,119
1.369
35.133
2.959
12,971
1,"86
1,"35
11,885
li*,905
680
852
1*99
1,1*119
3.065
780
2.121*
2.287
2.370
28,lt82
7.060
2,181
571
3.06lt
2, 1198
771
580
7.733
619
632
6.591
665
501
16,680
SOU
32.S50
2.318
1.570
22,198
1.155
830
255
1.125
2,831
•250
l.Ugl
U18
,067
906
793
2,1*69
,269
,886
6,liOl
2,37'*
1,666
5.2U3
10.783
836
2.696
2,186
5.068
19,557
301
l,6ol*
523
1,510
!l9U
13.921
1.735
".292
127
1.231
1,029
7,221
665
1.072
U.768
213
231
276
381
679
1*25
2ltl
1*26
671*
l,'i70
1.662
l.3'»l
U,019
U,281
1,1U5
1.526
7.107
2.7""
5.636
2,063
1.808
l.UlU
65U
3.910
U.200
1.1*35
l.lllS
ll.6its
1.2011
2.911
170
2.007
658
3,108
6.103
153
9.231
727
1.698
I.1U2
7.31*7
3.'*97
,901
155
663
181
56
19
129
275
673
1.565
lllO
l.SSit
307
Ul
33
5I18
502
133
36
150
71*9
191
I1O5
216
p
119
77
60
lio
3l*i
17
Uoo
27
62
67
7U2
39
16
11*
833
10,868
19
308
U.IU5
-12.526
17.2511
11,269
131.339
12U,177
U15,6U5
"02.U77
100.677
Salee b7 Statea:
17'*
I'l
259
370
2.1*71*
1,31*5
320
202
p
•
Prallainaij.
Laae than (500.
2.1125
100,277
95.867 192. 8U7
3.1*36
510
3.352
825
90
93
87
56"
1U9
9I
1.3't't
259
10
ai.359
-195.81*2
"98.153
1.1*98
8.026
2,801
1U,09U
1,063
LSltl*
231
5
70
(2)
2.515
2,1U«
1.902
3.1110
1.937
129.230
5.959
3,806
3.623
3.929
2.126
966
3,809
306
598.570
6, Ull
397
2.065
866
3.625
Ul6
-2,123
2.905
3.381
1.827
5.561*
i*.669
7.5«8
18.300
I.U60
1,823
U,7'i6
10,990
377
9.32U
2,66s
16.799
l,l*6U
3.877
1.627
6,651
U.566
".7"2
3.077
6.600
8,529
5.762
5,710
789
931
317
220
1*1*7
8,262
5.957
1.953
3U9
7. '130
1,61*8
I5U
2.3U1
1.173
693
a. 562
21,893
255
2.08ll
397
6,221
2,8gU
,
1.32lt
1.267
I.I157
52'*
3.117
1,1*117
1169
l.6ii5
telly 'CrMrarj Statement •:
Saporta of c^oaa aalae.
5.IUI*
2,1*50
722
ul*,!
2.011
2.152
897
2.299
1,005
3.517.35"
15. "22
2,5111
1.1*73
22.31*1
(1) Total
6,037
1,101
38,671
2,932
8,816
Srareti
2.1*1*6
lt.7l*9
9.957
Total
2,905
637
15,772
9.491*
8,565
Adjustment to
Dally rreasuxy
Statanent
1.126
235
S.221
10.381
2,307
2,75'*
UBAlXocated
528
1.U21
2.228
7.311*
1.818
26.711
3,771
U.302
.
1,678
3.797
5.361
lll,28lt
8.370
It,
19'».155
26,0l|2
Alaska
Canal Zone
Hawaii
Puerto Rico
71rgia Islands.
Other possssslons
1.351*
10,2lt6
ll.260
203,827
25.095
32.892
tfyomlcf
I.36I*
112
3.615
1.572
ll,680
Ohio
Oklahoma
Oregon
'•9.753
79'!
1,680
1.139
2,002
3.785
1,211
226
59.856
Vaahlngton
West Tirelnla....
Vieconeis
ll,15'i
922
2,198
2,262
I.2U6
ISO
9.156
51.251
5.885
2.890
7.50U
53.701
",151
566
789
13.1U1I
11*.
7.U7'*
1,911*
382
933
lt,lU9
3'*1
VlrglnU
2.106
27,6115
5.5'*1
28,U58
3.670
378
65U
11.738
1.103
5.033
5.'^'tlt
3.7'iO
1,75'*
28,791
2,750
3.273
1,183
27.872
ll*,0l3
3.991
1,181
2,685
13,003
178
10.752
15.1*71
3,156
1,02U
896
9,365
822
l,ll27
13,960
1.603
Teraont
302
1,066
U5U
1.521
671*
301*
17.629
1.739
537
Utah
8,070
1.506
1*77
110.993
7.932
632
1.576
1*72
10,605
19.585
1,580
10,>il6
39.11*0
}^
538
1911
96,018
5.911
South Dakota
Tennessee
Texas
251*
1.230
1*72,310
1*2.263
li».978
21.712
228
332
13.5'*2
627.986
W»,65U
10.937
.
767
W7
106,839
6,503
.
781t
8.723
1.301
1*7.
118,761
7.025
Bew Toric
Korth Carolina.
North thkota
61*5
«.53"
270.361 19".76»
Treasury Bulletin
ho
Sales and Redemptions of United States Savings Bonds - (C!ontinued)
Table 4.- Redemptions of Series A-D and E Combined, Classified by States
Data on savings bond redemptions b;
States for Series A-D and E combined became available beginning In October 19U4.
Figures for the months from October 1944
through January 19^5 are shown below.
It
should be noted that State figures on redemptions are not necessarily comparable
with sales data by States Inasmuch as
bonds which have been purchased in one
State may have been redeemed in another.
Moreover, the figures on redemptions are
on the basia of current redemption value,
whereas the sales figures are at issue
price.
(In tboutandt of dollars at oorront redanptlon raluai)
19Ult
I9U5
19UU
19115
State
JaAoazy
October
AlabiBa..
5.389
lt,6U8
U.Ugl
•(.368
Hew Tork
Arliona.
1.757
1.5't7
l.Ultl
1.615
Horth Carolina.
Arkansas.
2,662
2. '•78
2.351
2.298
Hortb Dakota.
California..
35.263
3U.861
31,1(67
33.346
Colorado....
2.673
2,83l»
2,611
2,663
Oklahoma.
Connecticut.
6,198
5.l't9
5.01*8
4,718
Oregon..
Delaware
37.051
32,064
28.944
25.891
4.235
4,626
4,449
4,111
642
722
597
692
28,694
26,036
22,492
19.915
4,405
4,164
3,840
3.962
5.483
5.244
4.590
4,908
.
Ohio
January
753
872
715
754
27.866
32.994
26,883
23.919
District of Oolnmbla.
3.918
3.986
U.329
3.639
Rhode laland...
2.057
1.996
2.074
1.715
norlda
U.960
5.09"*
5.630
5.592
South Carolina.
2.720
2.117
2,312
2.037
Oeorgla.
U,526
5,008
i»,5lio
4,718
928
eo6
762
843
Illinois.
28,883
28.233
2U.285
22,264
Texas
Indiana.
l6,6l8
13.381
II.16U
10,756
Utah
7.366
5.a7
5.I2U
4,997
Teraont
3.067
3.525
Virginia.
Idaho
Iowa.
.
PannaylTania.
.
South Dakota.
956
828
724
769
5.717
5.050
4.8I5
4.307
15.143
14.350
14,622
14,608
1.571
1,541
1,465
1.433
305
326
309
274
5.781
6.230
5.949
5.298
Teanesoea...
.
Kassas..
3.755
Eentocl^.
U.265
'*.833
3.9I17
3,683
Vashlngton
7.797
7,314
^.383
7.108
Loulaiana.
U.I36
"t.oig
U,l66
4,136
Vest Virginia.
3.598
3.506
2.925
2.7.78
Maine
1.563
1.39't
1.362
1.212
Vlsconain
Maryland
3.961
U.657
U,56U
3,8l6
Massachusetts.
10 ,9lU
10,825
10,906
9.500
Michigan
25,lHO
29,182
23,6140
24,541
9.164
6.938
6.260
6.234
Wyoming
457
685
491
573
Alaska
161
147
122
127
Canal Zona
7
Hawaii
Puerto Rico
Virgin Islands..
Minnesota.
7.660
7.2OU
5.935
5.847
Mississippi.
1.7S'»
1.705
l'.971
1.825
Missouri
8,690
8,671
7.U37
7.724
952
9U7
930
1,103
2.287
2.951
2.1(02
2.663
513
550
lt67
435
Nehraska.
Nevada.
.
How Baapehlre.
Hew Jersey.
,
,
Hew Mexico ....
Source:
(1)
811
903
893
737
12.7U9
12.553
11.912
10,075
67U
782
863
815
Total redeoptlons;
Daily Treasury Statements;
hy States: Reports from Tadersl Raaarva Banks.
(2) Bedenptlons
2.640
.584
2,120
71
539
201
179
12
13
4
..
Other pooseasions.
Uaalloeatsd.
Montana.
422
63
45
Adjustment to Daily Treasury
Statamant
+
1.872
-8.903
Total.
378.255
359.982
16
+
9.955
-3.367
3l(0.4a3
313. 812
April
1945
ivi
Participation in Payroll Savings Plane for United States Savings Bonds
i/
Treasury bulletin
h2
Sales and Redemptions of Treasury Savings Notes
Table
K-
1/
-(Continued)
Summary of Sales and Redemptions, by Series
-
(Continued)
(Par values - In mlllloaB of dollars)
Hedeoptlons and exchanges
Amount
out standi D^
TiBcal year
or month
end of
fiscal year
or month
Net change
during
flical year
or month
Recelred
in payment
of taxes
Redeemed
for cash
1,087.1
2,933.3
721.2
19.9
70.6
21.5
Exchanged
for
new series
1/
Serlee B U/
191*2
2,959.7
2.959.7
i*,o66.7
l?"*}
761i.g
-2,195.0
877.1
I9UU
22.1
-7112.6
71*2.6
March
101.3
MS.l
-g.U
-53.2
53.2
9.6
51.5
-1.2
1.7
April
May
June
39.7
3U.I
22.1
g.U
5.6
12.0
7.9
-5.6
-12.0
5.lt
.5
.2
11.3
.6
.2
1.2
U.S
2.9
1.1
U.l
-.2
.9
.2
.7
.2
-2.1*
2.U
2.3
.2
.1
.1
-1.2
-.u
1.2
.9
.2
.3
.1
19l|l)-7ebraaT7..
19.1
17.9
13.6
-3.0
-1.2
October.
Norember.
December.
12.7
12.5
10.1
-.9
.
.
.
.
IjU^January...
February.
g.9
8.6
6,U6U.O
9.IA7.7
191A.
19^P+-rebruary.
10,071.1*
3.0
-l*.3
Series
•191*3.
g.l*
-g.lt
July
August
September.
.1*
.1
.2
7.5U6.7
8.953-7
1,082.7
5.969.9
1.01*7.2
35.6
2,983.g
5.507.9
1*62.0
838.1*
-1,086.9
1,017.1
238.1
178.7
1,325.0
132-9
1.275.5
1*5.8
312.9
185.0
27U.9
1,1105.9
l,33l*.2
38.1
37.7
71.7
220.2
171.0
1,181.3
I83.6
+6, 1*61*.
8,98U.5
i^rll.
Ha7...
June.
g,9-71.3
8,931.1*
9,1*7.7
-13-2
-39.9
516.1*
299.7
IU5.I
1.922.3
July
9.893.0
1*1*5.2
665.5
Au^st ....
9. 923.lt
201.1*
September.
9,023.8
30.1*
-899.6
Oeto'ber.
8,976.1*
-U7.3
November
December.
9.892.0
915.6
9.71*7.9
-ll*l*.l
180.7
1,081.7
1,283.8
19^5-JanuaTy.
February.
9.776.U
28.5
6U.6
Dally Treaeuiy Statemente.
Less than $50,000.
These notes were originally designed to help taxpayers set aside
funds with which to pay taxes and wore known as Treasury tax sarSeries A notes were designed for the small and moderIngs notes.
ate taxpayer; Series B and Series C notes were Intended for the
When the collection of taxes through withholding
large taxpayer.
at the source commenced, the need for Series A tax savings notes
disappeared and their sale was discontinuad. Bedemption proTisiona
on Series A notes were relaxed to provide for the payment of interest on notes thereafter redeemed for cash (see footnote 3)^ Sale
of Series C notes, which were designed for the investment of idle
cash reserves as well as for the accunulation of tax reserves, was
continued and the notes were designated Treasury savings notes.
Includes matured Treasury savings notes.
Series A notes, which were sold from August 1, I9W throu^ June 22,
Throueh June 22, 191*3,
191*3. yield ^proximately 1.925t per annum.
the notes could be redeemed for cash only at the original purchase
price; since that date, the notes have been redeemed for cash at
68.2
5/
March
9,glt0.9
1,107.0
3,072.1
281.7
257.7
212.1*
k]
^
228.0
166.0
11*7.3
ll*g.l
1,158.1*
198.7
U9.6
36.6
22.9
22.9
29.3
121*. 2
1*1.9
1,1*27.9
1,265.2
162.7
229.3
lU7.g
176.6
127.7
52.6
20.1
(See
the tax payment value current at the time of presentation.
also footnote 1.) Prior to October U, I9U3, the maximum amount
which could be used in payment of each class of tax (Income, estate,
or gift] by each taxpayer during each taxable year was limited to
$5,000 par value; this limitation was removed as of that date.
Series B notes were sold from August 1, I9UI through September 12,
The amount which may
191*2, to yield approximately O.ltijS per annum.
be turned in on taxes is unlimited. The notes may be redeemed for
cash only at the original purchase price.
:ntereet accrues
Series C notes went on sale September lU, 191*2.
each month on a graduated scale (see 'Treasury Bulletin" ^— August
191*3, pe«e h) to yield approximately 1.07jt per annum if hoid to
maturity. These notes may be used in payment of Federal taxes at
any time two months after the date of issue. The amount which may
be turned in on taxes is unlimited. The notes may be redeemed for
cash six months after the date of issue at the tax payment value
current at the time of presentation. Prior to July 27, 191*3,
notice of 30 days was required for oash radanptlon. See also footnote 1.
April
1945
»^3
Sales and Redemptions of Treasury Savings Notes
-
(Continued)
Table 2.- Sales of Series C Notes, Classified by Denomination
riie&l year
or month
i/
Treasury Bulletin
l^k-
Sales of United States Savings Stamps
Table 1.- Summary of Sales and Redemptions
(In thouBftads of dollars)
Affiount
outstanding
71 teal year
end of
or month
ig"*!
i9U5(
''
"^l
i/
J-^y IS"!
Av45.
fiscal year
or month 1/
,••1
ISUl-June 191*2..
166, 3U1
igUit
213,350
196,518
ISlA-Fabnury.
March
200,577
195,521
ig"*}
April.
May...
June.
July
6,087
9U3
308,621
l''7,57l'
U5,620 ~
6/1/
590,268 1/
5ltU,6U7
-16,832
'108,930
'25,762
168
352,632
-'',329
-'t.755
3'',993
140,029
39,322
W,78lt
United States
sarlnga
bonds 2/
Cash
u/
u/
y
y
12.6
73,130
100.0
100.0
100.0
100.0
100.0
87.1
82.8
12.9
17.2
33,625
35,781
5,698
9,000
100.0
100.0
55.5
79.9
lU.5
20.1
6,873
5,690
3,811
100.0
100.0
100.0
80.1*
19.6
80.2
sU.5
19.
15.7
22.5
21.6
127.9'*«
1*71*,
18, ''68
7o,it«o
^/
y
87.
5./
582
19s, U07
196. 518
2,003
30,71*8
28,261
23,055
-1,889
22,696
20,77'*
16,566
23.13«
18,898
32,685
27.553
27,996
5,132
1'',175
3,896
100.0
100.0
100.0
?1*.3
U2
18,070
679
17.73''
13,816
lU.929
I6,6l8
3,917
3,628
3,602
100.0
100.0
100.0
77.9
23.9''6
82.2
22.1
19.6
17.8
16.321
3,603
3,293
100.0
100.0
81.9
80.3
18.1
19.7
-16,119
-12,97''
168.253
828
October.
NoTemt«r.
December.
175,199
180,587
181,529
5,388
19U5-Jaaaary.
Fetruary.
182,692
186,710
^
Ibcchanged for
Cash
2/
196,'«Oll
167, ''25
2/
Total
1/
5,l'*3
180,399
1/
for
United States
s&Tlnga
bools 2/
Izchazigeil
1/
l6l,0l»8
...
Source:
Sales
d\irlng
fiscal year
or month l/
September.
Au^st.
Percentage dlitrlbutlon
of redemptions
Redenptlonfl
Net change
35,717
6,9''5
2"*,
36,
+9'*2
21,163
18.558
20.221
1,16U
21,088
20,731
19,921*
16.711*
'',018
13,1*21
Dally Treasury StHtecienta commencing Novemljer 1, 191*2; prior
thereto. Post Office Department.
Figures for periods prior to November 1. 19'*2 are not strictly comparable with subsequent data because of the shift to a Dally Treasury Statement basis. Stamps sold prior to October 1, 191*2 were
known as postal savings stamps and were obligations of the Postal
Savings System but subsequently became public debt obligations.
Estimated on the basis of samples conducted by the Post Office Department.
Sales and redanptlons commence with May 1, 19l*l when the special
defense series of stamps went on sale. The amount of the old se-
8.U6
1^
5./
15.5
77.5
78.1*
80.1*
rles of postal savings stamps outstanding on April 30, 19^1 was
$150 thousands.
BetHlla not available for May, June, and July 19^1.
Includes minor amounts which were exchanged for postal savings certificates. These aggregated $123 thousands for the period Axiguat 1,
I9I+I through June 30, 19^2 and $55 thousands for the period July 1,
19'+2 through October 31. 19U2.
Net of sales less redemptions.
Sse footnote 1.
Boes not Include amoiuts transferred from Postal Savings System to
Treasury
the
to cover outstanding stamps.
Table 2.- Sales, Classified by Denomination
Sales in thoasandB of dollars
fiscal year
or month
Total
all
denominations
iTanoal nation
10/
19Ul.
6.087
1*00
191*2.
308. 621
67,U66
126.327
102, 5 3U
590,268
M08,930
19'*3.
191*1*.
Percentage distribution of salea
25/
Total
all
50/
$1.00
1.012
1.130
31,583
71,693
13,250
1*6,972
100.0
100.0
30.0
27.9
50.9
50.6
6.8
7.8
10. I*
100.0
100.0
100.0
26.5
2U.7
19.6
50.9
51.6
52.0
7.8
7.9
10.7
11.5
12.1
13.3
3.3
3,027
1,183
1.122
987
2,298
3,658
2,563
702
1.182
779
100.0
100.0
100.0
22.5
15.6
20.7
50.5
53.6
52.8
8.8
9.9
8.8
13.9
15.8
13.6
I*.
8l*g
26.9
28.9
50.7
1,051*
100.0
100.0
100.0
26.!*
50.3
7.7
7.6
6.7
11.3
11.5
11.6
6I8
967
100.0
100.0
30.0
28.2
^:
6.8
7.1
10.0
11.0
2.363
3.132
3,371
18,187
15,878
11,808
2.768
U.120
2,1*37
3,721*
2,1*38
8,370
1.1*61*
12,1*05
9,990
2,293
1,658
9, ''58
7.588
22, 696
l*.U36
16,566
23,133
18,898
3,731
3.600
3,909
2U, 679
23,9''6
12,516
11,581
1.892
1.813
21,163
6,636
6,928
5,586
10,61*2
1.1*12
2,786
2,761
2.U69
21,088
20,731
6,328
5.857
lo,6ol*
1,1*35
1,1*63
2.103
2,288
19lt5-J»nuary.
February.
Source:
10.155
Dally Treasury Statements commencing November 1,
19^2; prior thereto Post Office Department; (2) Distribution by
denominations! Baaed upon Post Office Department dete.
'
(l) Total sales:
2.7
3.3
950
1,330
17,799
20.227
30,71*8
October.
November.
December.
9.6
25.1
35,717
.
lU.o
17.691
April.
Hay..
.
18.6
10.2
12.2
11.5
53.1
51.1
52.508
32.611
10,511
September.
$5.00
16.6
9.3
8.9
8.0
11, 17I*
Au^et.
$1.00
1*1*.
1*0,029
July
50/
25/
21.1*
3l'.993
•Tune.
10/
6.6
21.9
March
19l*U-rebruary.
«5l*
Denomination
100.0
100.0
100.0
100.0
2.691
167,709
313,691
209,121
28,6ll*
»5.00
denominations
l*,l67
26.0l*«
861
2
5". 3
1*8.
l*.3
U.U
".3
3
5.1
'*.!
^\
3.6
5.0
2.9
'*.7
April
1945
•^S
OWNERSHIP
OF
GOVERNMENT
SECURITIES
H
Treasury Bulletin
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued
by United States Government and Guaranteed by United States
(In millions of dollars)
Secorltles Issued
Securitlofl guaranteed by United States l/
lULted States GoTenunent
tiy
Dletrlbatlon
liy
Distribution by claeaee of holders
elAsses of holders
U.
U.
fiad of
fiscal
year or month
Total
amoont
outetandlag
S. OoTsrament
agencies and
trust ftudi
Total
PtthUc
public and mar lost
special
able
issues
Iseoee
?7.6U5
32,989
55,800
36,576
39,886
1,656
1,959
3,251
U,U«6
5,605
1,023
1,332
1,693
1.791
1.835
Ha. 376
't«,3g7
6.«)3
8,225
2,028
2.10U
lO.jlK)
2,1*52
19UU
71.968
135.380
199.5U3
19Wt_7,t..
Mar..
181,709
183. 3l«
17.220
17.573
k,(Ak
U.057
Apr..
May..
June.
18VI.11
199,5't3
17.767
18.195
18.920
U,060
U,06U
It, 623
Joly.
Aug..
207,117
208,389
207.850
19.586
20,079
20.575
i«,6l5
Oct..
Hot.
208,608
20.78lt
i»,605
210. 7 7U
't.592
Deo.
228,891
21.185
21,672
230.672
a, 955
231.851*
22
1935
1936
1937
1938
1939. .4...
19I1O
I9IH
19'«
19>t3
Sft.
.
igUs-Jan.
Tab..
Source:
18lJ.S7li
Isnee
PaliUc
Speolal marketIsfoes
able
Issoss
2,it35
2,lt30
*
laat than 1500,000.
23.556
28,601
30.023
29,5*5
31.730
23,1*91*
33.115
37.982
58.988
29,950
33. Mas
27,3*0
28,835
27.989
29.579
Public
nonmarketable
Issues
62
1.261
1,188
1,556
2.151
able
ieemas
l*,123
3.378
1,537
188
175
586
176
176
l.*97
1,183
1,186
168
163
150
l.*68
1,*75
1,*80
1.187
1,187
1,187
277
28*
289
1.189
1.189
1,190
287
277
275
,191
300
328
*.092
1.516
13,168
13,507
11.5*5
12,111
152,91*1*
110,583
111,911
>H,752
10
10
10
13,697
1U,123
13,216
lU,2U7
152,1*30
152,1*32
llt.287
ll»,899
165,725
10
10
10
IU.961
1U,912
15.803
16,651
10
10
10
16,170
16.583
16,326
17,61*5
170,17?
18,3«6
5.337
18,81*11
5.256
5.208 p
11
16,688
17,130
19,00l|
16 p
138,002
189.713
190,061 p 137.732 P
it.fiog
1|,588
15.'t6l
15,976
19.1*39
6.360
*.227
2.258
110, 16U
109,718
120,880
1*2,265
lt2,7lU
172,619
125,392
1*7,227
172,1*07
12'*.g03
123,1*83
li7,60lt
122,759
122,205
1*7,1*20
171, 20i*
188,375
137,1*68
50,907
1,*80
1,*70
1,*70
51,712
52.329 P
l,*96
1,11*
170,625
1/
2/
U7,ll*2
1*8,998
lasuei
570
539
1*U
^•i2^
5. '•98
I1.55*
ltlt,8lt5
Pa1>Uo
nonmaztotable
68
150
"1.5*9
8U,9l*g
120,880
•,853
5,'t50
3,166
1*2,361
alile
176
13.507
llU.llti
165.725
153. 66U
Public
marketI
5,212
6,085
*,262
3.73?
l.i«6
7,lU9
1*5,1*81
Public
nonmarket abl
Issues
2/
286
275
287
170
U
W.899
3
7
10
Private
investors
*.302
*,528
5.16*
l*,665
2,180
091
18(920
Oovemment
366
377
363
325
286
u.ns
2.>>58
2,61lO
S.
Bgenclee and
trust funds and
Tederal Be serve
Banks
Public
market-
6,130
7,8«5
10,871
lU,2g7
reports of the agenciee and aceounto with the Treasury; (3) Securities held by Tederal BaserTe Banks:
Tederal Easerre Syeten.
PrallBliiaz7.
market'
able
Issues
|}.775
2.56>t
(1) Total aaounta outetandlngi
Sally Treaeury Stateaenta;
(2) Secorltlee held by U. S. OOTeromest aceuolea and truat funds;
p
PabUe
2.551
1
2.526
Total
public
Iseoes
Total
oaount
umnatured
outstanding
1.558
2.676
3.770
lit,
35&P
PahUe
nonmarketable
Private
Investors
2/
Tedaral
Reeerve
Banks
91
7
2,258
1,529
1,516
6
*P
U5
783 P
Zxcludes matured aeourltles. and obligations held by the Treasury.
The total amount of securities held by prirate Inreetore is calculabed by deducting from the total amount of securities outstanding.
the secorltles held by U. 3. QoTernaent agencies and trust funds
and by federal Keserre Banka.
April
1945
^7
Estimated Ownership of Interest-Bearing Securities Issued or Guaranteed
by the United States Government
(Par TftloAt
Snd of
onth
^ - Id billion*
of
dollmn)
Treasury BaVetin
i^8
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agrencles, January 31, 1045
Section
I
-
Securities Issued or Guaranteed by
The tables In Section I present summary data as of January Jl, 13^ from the
Treasury Survey of Ownership of Seourltles
Issued or Ouaranteed by the United States.
The banks and Insuranoe companies covered
in the survey account for approximately 95
percent of the amount of such securities
Table 1.- Summary:
All
ttie
United States Govemnent
owned by all banks and Insurance companies
In the United States.
,
Section IX presents for the first
time summary data on the ownership of Federal land bank bonds.
Interest-Bearing Securities
(
..
April
k9
1945
Treasury Survey of Ownership of Securities Issued by the United 8tate«
Government and by Federal Asencles, January 31, 1045 t (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Oovemaent - (Oontlnoedl
Table 2.- Public Marketable Interest-Bearing Securities - (Oontlnuedl
PART A - ANALXelS OF OWNIDSKIP BX TXPE8 OT BCCimiTX, hi OALL CUISSEB.
AMD By TAX-EXEKPTIOM FII0VI8I0N8-(0ontlnue(l)
Bald bj lBr«atort coT«r«d Id Tnaflurj Sorr^r
All
Inraranoa eoapaalat
Olaifllfleatlon
T.UlO
3X8
•took
elal
buka
2/
693 fir*,
'bank*
mitral
tarlnci
baak*
Total
Ufa
Invvranet
co^paaiaa
oanaltj.
a.
TT.
lamnuwa
and 7adaral
Baaarra
eo^fwnlat
Ba^a
and aarlno
Bald
V
OoTanaaat all otbar
C*Qel«a and Inraatort
tnut fund*
if
Pareantasa dlatrlbatlon by elaaaaa of aaeurltlaa
^paa
of aaonrltjt
aaonriiiaa laauad *y Obltad Stttai
Hremvarj bllla
Cortiflcatofl of Indabtadnaaa
Treaeuzy aotaa
Treasury bonds
Postal aarlttcs and otbar bonds,
(taarantead by Dnltsd Statas J^
.
•
Total
10.0
18.6
Ik.l
56.1.
l«6.9
20.8
21.3
51.2
1.6
U.1
9U.2
.8
9».7
96.7
.1
•
•
.7
1-3
.1
.1
100.0
100.0
2-3
10.3
2.7
10.1
ao.5
100.0
Call claasast
I>ia or flrat baooolng eallabla
Within 1 yaar
1 to 5 ysara
to 10 ysara
;j
10 to i; yaars
15 to 20 ysars
Over 20 ysars
Tarlons (Tsdsral Bousing Idslnist ration
dobenturss)
1.9
35.6
19.3
36.3
29.1
2}. 5
28.lt
5.0
8.6
3.«
1.1
7.0
l.l»
28.7
25.1
li.6
10.3
itj.o
18.5
19.9
£.0
u.i
31.7
23.8
26.7
.1
Tax-M«ptlon proTlslons:
2.8
29.3
12.8
$8.1
.1
,k
100.0
100.0
12.9
22.8
33-6
15-9
11.0
3.9
72.2
7.0
6.1
7.«
15.2
23.H
7.0
10.3
8.8
100.0
100.0
100.0
100.0
9-1
9.5
9.>»
U.5
92.6
90-3
87.0
100.0
100.0
100.0
100.0
lt.2
35.1
.1
5/
Vbolly axsmpt from Tadsrol Inooas taxas ....
Partially oxeiqpt from Podoral Iseoae toxas.
dobjsct to 7ederal Incoms taxes
Total.
.6
•3
14.0
18.7
81.0
9l:J
88.
IX .0
100.0
typss of sscurltyi
Sseurltlss Issuad by Unitsd Statas
Traasury bills
Csrtlflcatas of Indabtadnsas..
Treasury notss
Treasury bonds
Postal serines and other bonds,
aoarantssd by United Stataa Jt/
Total
100.0
100.0
100.0
100.0
100.0
100.0
2>t.O
100.0
M.U
100.0
100.0
100.0
100.0
100.0
100.0
5.9
9.1
U9.7
67.1
U0.3
8.0
76.8
Call daasee
Doa or flrat bacomlne oallable
i
Within 1 year
1 to 5 y*ara
5 to 10 yaara
10 to 15 yaars
15 to 20 yaara
Orer 20 yaare
Tarlons (fadaral Bouslne AAalAletratioa
debsntnraa)
uo.o
Iota
^
Tax-sis^itlon proTlslonsi
Vholly sxaqpt froa fadaral Inooao taxaa.
Partially axaapt froa Pederal iaeoaa tax
Snbjeot to Pederal Inooaa taxee
100.0
100.0
100.0
25-3
100.0
Vt.k
99.3
llg.l
.2
.1
rs.
Paxcsntaca dlatrlbutlos by gtovpt of Inrastors
Total
20.5
6.7
25.8
.6
1.2
8.}
18.6
lO.U
Total
9.2
9.0
81.U
1.6
Treasury Bulletin
50
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, January 31, 1945 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PART B - DISTRIBUTION OF OWNERSHIP FOR
EAC!H
Isiua
^
le shown in parentheeee)
(Continued)
(Continued)
ISSUE OUTBTANDINO
(Par Taluae - In Bllllone of dollare)
(Tax etatue
-
-
April
51
1945
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies. January 31, 1945 - (Continued)
Section
-
I
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PARI B
-
-
-
(Continued)
(Continued)
DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTaTAMDlNS-( Continued)
(Par Talu«e - In millions of dollar*)
Held by InTostors covared In Treasury Surrey
Issue
(Tax status
^
is shovn In parentheses)
Treasury bonds-( continued)
September 1951-53
3>
3)t
September 1951-55
December
1951-55
2^
2-lA*
(taiable
(partially
(taxable
Total
amount
outstanding
Banks l/
7,UlO
commercial
banks 2/
369
361
5.825
860
356
3,110
8,511*
2,670
1,501
725
71*7
1953-55
(taxable
(taxable
(partially
195U-56
1955-60
1956-58
(partially
(partially
(taxable
681
2,611
506
1,059
1,1*1*9
31*6
l-l/^ September
2-3AJ September
2-3A* June
1956-59
1956-59
1958-63
(taxable
(partially
(partially
3,823
982
919
263
U82
2-3A* December
I960-65
1962-67
1963-68
(partially
(taxable
(taxable
U«5
118
2-1/2*
2*
2)6
2-lA)E
2)t
2-lA)t
2-7/S*
2-l/21t
2-1/36
2-l/e56
December
March
June
1951-53
December
June
June
1952-5'*
1952-55...-
June
March
March
June
December
1952-51*
1952-5I*
(partially
(taxable
(taxable
2-1/2)6
2-1/2)6
2-1/2)6
June
December
I96U-69
1961*-69
(taxable
(taxable
March
I965-70
(taxable:
2-1/2)6
March
September
1966-71
(taxable:
1967-72-'
(taxable
2-1/36
Total Treasury bonds
Postal saTJngs and other bonds
Postal eavlnge bonds
Panama Canal bonds
Conversion bond s
(wholly)
(wholly)
(wholly)
1,118
1,021*
3,1*71*
59
912
117
federal Housing Administration debentures
/(partially)
\ (taxable)
10
21
Total guaranteed securities.
Total public marketable securities.
69
37.130
U12
"
827
2.716
(taxable)
Hose Owners' Loan Corporation
1-1/2)6
June
191*5-1*7.. (partially)
1*1*5
92,221
Total postal savlogs and other bonds
Guaranteed seciirltles U/
Commodity Credit Corporation
19U5
1-1/8)6 lebruary
617
,831
761
838
197
755
1.197
l63.''5g
All 0.
S.
Oovemment
'*.572
755
510
Insurance companies
3'*
stock
savings
banks
5U2
mutual
saTlngs
bank a
318
life
Insurance
companies
653 fire,
casualty,
and marine
insurance
companies
agencies and
trust funds,
and federal
Reserre
Banks
Held by
all other
InTOBtore
Treasury Bulletin
52
Treasury Survey of Ownership of Securities Issued by the United States
Governflient and by Federal Agencies, January 31, 1945 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States GovemDent - (Continued)
Table 3«- Public Non-Marketable Interest -Bearing Securities
(Par Talxie* 1/ - Id million* of dollari)
Hold by Inveetore corored in Treaaiu7
Total
amount
outatandlns
Iseue
(Tax etatue gj le ehowu In parenthaaaa)
7
Mo
eoDDerclal
bank! kf
United States Bavlngs bonds 1/
3erlee A-D
Seriee E
Series 7
Series
6/
3.9^
190
(taxabla)
(taxabla)
(taz&bla)
26,0U3
8.315
9.139
115
256
Ul.lliO
Total United States saTlags bond
Treasury tax and eaTiogs notes
Adjusted serTioe bonds
Depositary bonds
..(taxabls)
(vhollj;
(taxable)
•
1/
2/
5U2
mutual
•aTla^i
banka
3"
•toek
eaTls^a
bankt
318
Total
troat funda.
and Toderal
BeBerra
Banka
5/
561
239
90
190
>M,lU2
9.8£>>
66
22
216
503
U6l
6
171
17
17
216
U2
300
182
1.299
3/
H/
5/
6/
J/
261
95
166
-Bearing Securities Issued by Federal Agencies
Federal land bank bonde
Data
Note:
held by banks and Ineurance oompanlee oovered In the Treaeury Survey are not entirely oomparable with figures on holdings
of eeourltlee lasued and guaranteed by the
10
50.263
cipal amount ownad by any one holder is also axa^t from the sur"Taxable" securities are aobjaot to both nomal and
tax rataa.
surtax rates.
Securities held in trust departmonte ara axeXudad.
Includes trust companies.
This column includes sscurittas held by those banks and insurance
See headeoaapanles which are not covered In the Traaaury Surrey.
note to thle section.
Series A-D sarincs bonds sold prior to March 1. 19UI are partially
tax-exsi^t; those sold on and after that data ara taabla.
Ouaranteed aacurltlae bald by the Treasury ara not included.
But not Guaranteed by the United States
1/
United atatee beoauae a total of 197 fever
respect to
Inetltutlone reported with
their holdings of Federal land bonk bonds.
Eventually the two aeries should be fully
oomparable.
(Par values - in millions of dollars)
Issue
iBiuranca
eoopaniaa
26,0U1
2.163
8. 500
- Interest
(Tax statue 2/ is shovn In paronthesaa)
iniuraaee
coBpanioa
Held by
all other
Inveetora
125
52,022
on
Ufa
a^ncloi and
)l
Laaa than $500,000.
United States eavlnes bonde. Serial A-S, I, and t are ahown at current redeji^tlon values. They were reported at aaturlty ralue by the
banke and Ineurance companies coTerad in the Troaauiy ftirrsy but have
been adjusted to current redemption waluaa for use in this statement.
rederal securltiee fall Into three broad gro\9S with respect to l»position of Federal incone taxes on inooae deriTed therefrom.
"Wholly" tax-exempt securities are exvpt from both the normal and
surtax rates.
"Partially" tax-exsopt securities are exeitit from
the normal rates except that in the caae of partially tax-axeopt
Treasury aoi saTlngs bonds, interest darlTad from I5.000 of prin-
Section II
All V. S.
OoTarrj^ant
653 fira,
catoalty,
and Barlne
30
199
Ouaranteed securities Jj
Commodity Credit Corporation deaand obliga(taxable)
tions
Total public non-aaricetable secxirltiea.
Snir^
Xnauranea ooapanlaa
Banka 2/
April
53
1945
PRICES
AND
YIELDS
OF
GOVERNMENT
SECURITIES
(Including securities issued by Federal agencies)
5^
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 28, 1945
Table I.- Securities Issued or Guaranteed by the United States Government
PART A
-
TAXABLE BONDS, NOTES, ANC CERTIFICATES
u
April
1945
55
Over-the-Counter Closing Quotatione on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 28, 1945 - (Continued)
Table I.- Securities Issued or Guaranteed by the United States Government
PART
Deierlptlon
(Mlllloni)
Heu
Bid
(Continued)
TAX-EXEMPT BONOS AND NOTES
-
Prica data
(Price dttclmAlt ar*
thirt7-i6coadl)
Amotmt
oat•tandlo^
-
Price range
elnee f Irat traded 2/
(Price declaali are
thlrt7-eeconde)
Tleld data 1/
Change
Change
In
In
Date
of
leeoe
Matnmean
Tleld Tleld
rlty
from
from
7leld
Jan. 31.
Jan. 31.
19U5
191(5
leeued by
tJ.
Sigh
Price
iqMt-Uj price range £/
vPrlce declsale are
thlrtjr-teeonde)
Lav
Date
Price
High
Date
Price
Date
Low
Price
Sate
OoTomaent
3.
Treaeury bonde
ll.ZlU
pui
Ug9
1.036
8I9
2-3/t*
759
701
U-l/lii8
1.223
U51
571
2-1/2SI
3-3/'»*
•
5"
.
3-1/8*
.
2*
2-3/1^
2-l/2f5
2*
U91
1.786
1,186
1.627
755
1,118
725
681
2,611
982
919
1,U85
2-1/^
2-3/^
.
.
101.21*
2-l/ll?i
.
2-7/3*
2-3/1**
2-3/"*
2-3/1**
.19*
-.02*
.01*
:ll
103.19
103.
109.25
109.26
-.01
12/15/1*7
3/15/1*8-51
9/15/1*8
12/15/1*8-50
ioi,.03
109.27
10U.05
lOU.Ol*
.05
106.09
106.10
106.
106.10
106.11
-.01*
106.12
-.02
.51
.65
.68
10l*.23
10l*.25
10l*.2U
.00
.73
-.09
-.09
-.01
-.02
-.02
110.12
107.15
108. 16
110.15
111.26
110. lU
107.17
108.18
110.17
111.28
110.13
107.16
108.17
110.16
111.27
.05
.90
.90
.92
-.06
-.07
-.12
1.02
1.12
-.13
-.09
107.25
106.28
108.19
113.22
113.02
113.10
107.27
106.30
108.21
.12
.12
.10
llit.o6
1.06
1.13
1.26
l.Ul
1.51
1.63
1.72
-.06
llU.Ol*
107.26
106.29
108.20
113.23
113.03
113.11
IIU.05
102. OU
102.08
IOU.28
13U.08
9/15/50-52
12/15/51-53
6/15/53-55
6/15/5U-56
3/15/55-60
9/15/56-59
6/15/58-63
12/15/60-6510/
Other tondi
113. 2l*
113. OU
113.12
*.07
.19
+ .23
+.16
.27
.17
.2l*
1.03
2.19*
.02
6/15/1*6-1*9
9/15/51-55
.
a
101.12
10/15/U7-52
6/15/51-51*
2-1/H
.1*8
101.12
101 25
103.20
103.16
3«
2*
.28
.28
•31
•31
101.11
101.21*
103. 18
103.11*
12/15/1*9-52
12/15/1*9-53
2-1/2*
103.19
103.15
103.20
-.06
-.06
-.10
-.05
-.05
9/15/1,5.1,7
12/15/1*5
3/15/1,6-56
6/l5/l*6-U8
-.09
3.36
1.91
2.23
9/16/35
12/15/37
3/15/26
6/15/31*
6/15/31
110.12 12/12/1*0
99-27
109.21* 12/ll,/l*0 101.21*
116. lU 12/ll*/l*0 89.18
112.28 I2/16/I1O 97.28
113.19 12/lU/ltO 83.05
12/ll*/l*0
9/17/35 103. lU
2/28/1,5 103.15
1/12/32 106.09
9/17/31* 105.09
1/11/32 105. 18
1/11/1*1*
101.12
l/ll/UU
1/11/Ut
1/12/lA
1/11/W,
101.21,
2/28/1*5
2/28/1*5
103-19
103.13
103.18
2/28/U5
I/9/U5
I/9/U5
1/10/1*1*
109-18
103.18
105.26
105.27
IOU.06
I/9/U5
10/16/22
12/15/38
3/16/36
3/15/38
12/8/39
122.22
107.20
111.18
111.01
107.00
1.69
1.58
1.31
1.53
1.76
12/15/31*
115.01, 12/12/1*0 101.07 12/15/31* 110.22 lt/21/ltl* 109.25 11/30/1*1*
108.28 12/10/1*0 96.19
V8/37 107.16 2/28/U5 106.11, 10/28/Ull
108. 30 12/10/1*0 99.15 9/25/39 108.18 2/26/1*5 106.27 9/22/1*1*
110.26 11/12/1*1 98.16
Vl/37 110.17 2/26/1*5 108.17 9/22/UU
113.21* 12/30/1*0
82.08 1/11/32 111.27 2/28/1*5 110.10 9/28/1*1*
1.31
1.28
12/22/39
1.1*2
7/22/1*0
1.83
1.73
1.88
1.92
3/15/35
9/15/36
6/15/38
12/15/38
2.81
1.65
1.15
12/15/36
9/15/38
6/15/36
9/15/31
10/7/w
107.27
106.29
108.20
113.23
113.01*
113.12
nU.05
98.18
12/12/1*0 99.11*
12/12/1*0 99.10
12/12/1*0 100.30
12/12/1*0 101.10
2/26/U5 101.08
2/28/U5 101.19
2/28/1*5 102.02
2/28/1*5 98.30
2/19/1*5 98.10
2/16/U5 99.15
2/28/U5 99.11*
10/8/23 111.25
9/25/39 IOU.I3
Vl/37 106.29
l*/2/38 106.27
5/2l*/l«) 101*. 29
5/15/1*1*
U/25/1*!*
5/2/1*1*
8/8/1*1*
12/2/Ui,
11/30/1*1*
12/5/1*1*
12/5/1*1*
107.27 2/26/1*5 105.29
2/15/1*1 106.29 2/28/U5 IOU.20
7/2U/l*0 108.20 2/28/1*5 106.09
9/22/UU
9/21/W*
9/21/UU
9/20/35 113.23 2/28/U5 111.09
Vl/37 113 .04 2/19/1*5 110.25
9/25/39 113.12 2/16/U5 110.26
9/25/39 lllt.05 2/28/1*5 111.03
9/22/UU
9/22/UU
5/1/UU
5/2lt/ll0
9/21/Ul*
U/
3* Converelon - 1/1/U6
3^ Converilon - 1/1/1*7
3* Panama Canal- 6/I/6I
lOlt.20
133-08
lou.si,
-.08
-.02
133.21*
.08
•
79
100.00
-.OU
•
75
102.06
1/1/16I
•05
.07
.02
105.01, 1/17/1*1* 102.06
2/28/U5
2/28/U5
3/1/UU
115.00
1935
75-00
1920
6/1/11
131*. 00
9/5/Hlt
75-00
6/18/21
3/15/1*0
101.16
8/6/1*1
98.26
6/10/1*0
3/25/1*1*
2/28/U5
103.26 12/13/Uo
96. 2U
9/25/39 101. OU 1/13/uu
2/38/U5
1/1/17J
107.02 Z/21/UU
10l*.2l*
131*. 00
130.28
9/5/1*1*
Treasury notei
718
3/1**
A -
3/15/1*5
Ouarantoed
liy
U.
3.
OorerniBent 12/
Hone Qynere' loan
Corporation honds
755
1-1/2* H -
6/I/U5-U7
100. !! 100. 12^
.02*
-.15*
Vhen the price of a aecurlty It such ai to result In a negatlre
yield, the exeeii of price orer lero yield li glren In the yield
coluflme In thirty-secondi.
Prices represent the mean of closing hid and ask quotations in ths
OTsr-the-countsr market except that prices of neasuz7 and Rome
Owners' Loan CoTporation bonds for the period prior to October 1,
"When
1939. represent closing prices on the S«v Tork Stock Xrcbange.
Dates of
issued" prices are Included beginning October 1, 1939.
highs and lows, in case of recurrence, are the latest dates.
Ootqiuted on mean price to call date when mean price is abore par and
to maturity date when mean price is below parIncluded in the arerage of long-term taxable Treasuiy bonds.
Hot quotsd on Psbruary 28.
Prom Psbruary 21 through Pebruary 27.
1.33*
10/
12/
6/1/39
quot«d at par. Prior thereto, quotad on a jrlald baali.
footed on 7lald batii.
Tor afflount of this tacurlty Itraed on March 1, 19^5* ** tabla
on "Offering* of Hark«table laiuet of Treacury Bondt. Bot«t, and
Ctrtlficatai" In the chapter on "Puhllo Debt and Ouarantaed Obligation! of the ITnltad Statee OoTemaent."
So data becauee eaeurlty vae not quotad on January 3^*
This aecurltr vae leeued on March 1. I9U5. In the aaouat
$1.3lU Dllllone.
Thle li the only bond eligible to raaaln In tha arara^a of loneterm partially tax-axai^t Traaeury bonde.
Izeludee poetal earlnge bonde.
Xxcludee Federal Housing Administration debantorae.
56
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 28, 1945 - (Continued)
Table II.
imoont
out•tandlii«
(Mlllloai)
-
Securities Issued by Federal Agencies but not Guaranteed by the United States
April
57
1945
OF TREASURY SECURITIES
YIELDS
Based on Mean of
46
48
50
52
54
Closin<J
56
Bid
'58
FEB.
28,
1945
and Asked Quotations
60
62
64
66
"68
70
PERCEh
44
46
4B
50
52
54
•56
•58
60
62
64
66
68
70
•72
Treasury Bulletin
58
Average Yields of Long-Term Treasury and Corporate Bonds
(P»re«nt par aiuniB)
Partially
tax-ez«^)t
Treaffory
%ondt 1/
laabla
Trearary
^ondi 1/
Hlgbgrad*
corporate
bonds 2/
Fartlalljr
Oat*
Taxabl*
tax-oxeopt
TreaBury
Treamiry
bond! ]J
bondt 1/
2.56
2.5lt
3.09
3.2U
3.36
19lJ0-Jan..
3.'»3
tet*
Partially
Taxable
tax-eze^]t
Troaiury
Treaanry
bond! 1/
bonds 1/
2.30
2.32
2.26
2.81
2.79
2.77
19U3-Jan.
Peb..
Mar..
2.11
2.11
2.12
2.1)6
2.26
2.39
Apr..
May..
June.
2.05
1.96
1.91
2.1)8
2.1(
Teb..
Mar..
2.66
i^r..
May..
Jnne.
2.83
2.80
2.81
3.36
3-31
Apr..
May..
June.
2.1|0
?.Tk
2.87
2.93
July.
Aug..
Sept.
2.78
2.78
3.82
3.27
3.25
3.26
July.
Aug..
Sept.
2.30
2.31
2.25
2.85
2.80
2.71
July.
Aug..
Sept.
1.91
1.92
1.90
Oct..
Not.
2.82
2.78
2.73
3.26
3.22
3.17
Oct..
Not.
Dec.
2.21
2.09
2.01
2.70
2.65
2.59
Oct..
Not..
1.90
I.9U
1.95
2.69
2.68
2.67
3.17
3.15
3.16
19Ul-Jan..
Peb..
Mar.,
2.12
2.22
2.12
2.57
2.71
2.73
19l)l)-Jan..
7eb..
Mar..
Apr..
May..
June.
2.66
2.56
2.58
3.25
3.1U
3.15
^r..
2.07
May..
June.
2.01)
2.01
2.76
2.75
2.70
July.
Aug..
Sept.
2.58
2.57
2.63
3.12
3.10
3.12
July.
Aug..
Sept.
1.98
2.01
2.02
2.66
2.65
Oct..
Hot..
2.55
2.56
2. 56
3.06
3.0U
3.02
Oct..
Not..
Sec.
Dec.
1.98
1.95
2.06
Peb..
Mar..
2 5U
2 51
2, Us
2.96
2.90
2.87
19U2-Jan.
Peb..
Mar..
2.10
2.17
2.10
2. US
2.U6
Apr..
Kay..
June.
2. 38
2 27
2.22
2.92
2.86
2.78
Apr..
May..
Jane.
2.07
2. 06
2.1A
2.U5
2.0l»
2.1(3
July.
Aug..
Sept.
2.23
2.27
2.67
2.76
2.79
3.29
JWly.
Aug..
Sept.
2.0U
2.1)6
2.06
2.08
2.1)7
2.1)6
Oct..
Hot. .
2. 60
3.1U
2.93
2.86
Oct..
Sot.
2.09
2.10
2.13
2.1)5
2.1)7
.
Dec.
193g-Jan..
1939-Jan.
2.U6
2.35
Dec.
Teb..
Har..
.
.
Dec.
2.3!)
2.3U
2.
1*7
2.I18
9.
16.
2330.
1.91
1.93
1.93
2.1)7
2.1)7
I.9I)
2.1)7
2.1)8
1.93
2.1)8
2.55
2.53
2.55
2.55
2.55
19l)l)-NoT.
Dee.
Oct.
7.
lU.
21.
28.
1-93
1.92
1.93
1.91)
2.1)8
2.1)8
2.1)8
2.1)8
2.53
2.55
2.55
2.58
1).
1.92
2.1)8
1.91
1.89
1.89
2.1)8
2.
1.89
1.88
1.87
2.1)8
il:
2330.
2.1|8
2.1)7
2.M8
2.1)8
2.1)9
2.65
2.65
2.61)
I.9I)
I.9I)
us
1.91
D9
2.61
2.58
2.58
1.89
1.90
1.93
D9
US
»7
2.59
2.57
2.55
1.93
1.90
1.87
2.1)8
2.55
2.1)8
2.61
2.59
July.
Aug..
Sept.
2.61
2.57
2.68
Oct..
Not..
2.76
2.80
2.80
191)5- Jan..
1.81
1.75
Peb..
2.60
2.61
2.63
2.1)8
Apr..
May..
Jnne.
Dec.
2.58
2.57
2.59
2.1)9
2.1)9
Peb..
Mar..
1)9
2.1)8
2.1)1)
2.38
1)/
2.58
2.56
^
2.62])/ 191)5- Jan.
2.62
2.61
2.60
2.1)8
2.1)7
:Si
2.1)8
2.72
2.71
2.72
2.1)8
1.8U
2.1)5
2.68
2.65
2.63
2.7U
2.73
2.73
2.1)8
1.81)
2.1)6
2.70
2.68
2.70
2.76
2.75
2.1)9
10.
18.
25.
Dec.
2.1)6
2. lie
1.95
1.93
1.91
2.61)
Weekly series - Saturday figures
19l|l)-Sept. 1.
Highgrade
corporate
bonda 2/
^
Monthly series
1937-Jan.
grade
corporatt
)>ondt 2/
6/
2.59
2.58
2.58
2.59
2.59
Peb.
6.
1320.
27.
3.
10.
17.
21).
1.83
1.79
1.80
1.82
2.1)5
1.77
1.75
1.73
1.73
2.1)0
2.1)U
2.1)U
2.1)2
2.59
2.58
2.58
2.58
2.39
2.35
2.57
2.57
2.56
2-55
2.1)0
Dally series
19l)5-Peb.
1.
2.
3.
1:
78.
9.
10.
1.80
1.78
1.77
2.1)1
1-rr
1.77
1.76
1.76
1-75
1.75
2.1)0
2.1)0
2.1)0
2.I1O
2.39
2.39
2.1(0
2.1(0
2.58
2-57
2.57
2.57
2-57
2.57
2.56
2-57
2.57
19l)5-Peb. 12.
2/
15.
16.
17.
1-73
1.73
1/
2.39
2.39
2.39
2.39
2.39
19.
20.
21.
1.73
1.73
1-73
2.38
2.37
2.37
•
Basis of Confutation:
(l) Trsasoxy bond yields aro computed on the basis
of the mean of cloelng bid and ask quotations In the oTsr-thecounter marlcet, beginning September 2, I9UI; prerlouel;, closing
prices on the Nev York Stock Exchange vere ueed on daye when sales
took place on the Ixchange In a particular iaeue and the mean of
closing bid and atk quotation! on the ]7ew York Stock Ixchange on
dft^e whan no salee took place.
(2) Corporate bond yields are computed on. the basis of closing prices on the New Toric Stock Xxchange
and the New Toric Curb Sxchange; on days when an issue does not sell,
the price of the last preceding sale is used.
Back Figures: Monthly and weekly data for the period January I933 through
March I9UH appeared in the "Treasury Bulletin" for ^rll I9U4,
pages 57-61.
1/ Arerage of Treasury bonds neither due nor callable for fifteen
years. Tor discussion of composition of average see "Treasury
Bulletin" for March igUU. page 5a. Partially tax-exempt bonds are
those the interest on vbich Is exempt from the normal rates of the
7ederal Income tax, except that in the case of partially tax-exempt
Treasury and Ualted States saTlngs bonds, interest derived from
75
2/
1/
k/
^
6/
]J
19l)5-Peb.
22.
II:
1/
1.73
1.73
2.3b
2.35
2.55
2.55
26.
27.
28.
1.73
1.73
1.72
2.35
2.36
2.3a
2.5"*
2.56
m
2.56
2.56
2.55
2.56
2.56
1/
2.51+
2.53
$5,000 of principal amount owned by any one holder is also exen^t
from the surtax rates of the federal income tax.
Taxable bonds are
those the Interest on which is subject to both the normal and sxirtaz
rates of the Federal Income tax.
for discussion of present composition of high-grade corporate bond
average, see "Treasury Bulletin" for January 19^5. pag« 56; for
discussion of its previous con^osltlon. as well as the considerations underlying its confltruction, see "Treasury Bulletin" for
April 191*3. page 61.
Monthly averages of daily figures. Prior to April 1, 1938. corporate bonds are averages of Saturday figures.
The composition of the high-grade corporate bond average was revised commencing with Noveober 1, 19^^. The old average for Bovsaber 19^+^ was 2.565^. See footnote 2.
On days when the exchanges are clossd, the date and prices of the
previous day are used.
Indicates change In composition of average,
exchanges were closed.
April
1945
59
60
Treasury Bulletin
CORPORATIONS AND CREDIT AGENCIES
OF THE UNITED STATES GOVERNMENT
.
April
.
1945
61
Sources and Application of Funds of Government Ck)rporatlons and Credit Agencies
For the Six Months Ended December 31, 1944
1/
(In thousands of dollars)
Total
Coordinator
of InterAaerlcan
Affairs
2/
lieeutlve Office of the President
Apiculture Department
(continued on follovlog page)
Office for Anergency Management
farm Credit Administration
(contlmied on following page)
foreign Economic
Administration
War Production Board
BiportImport
Smaller
War Plants
Corporation
other
Bank of
Waahlngton
i/
Agriculfederal
»ar
tural
Smergenc? Basics
interShipping Marketing crop and
for
mediate
AdminisAct
feed
cooperacredit
tration revolving
loans
tlvee
banlcs
fond
Sourcee of funds
Borrowlnes:
from U.
S.
Treasury
1.771,000
3.1S1.718
Ull.MlU
1*41*.
Troo public
Total borrovlo^t.
5.3OU.I3I
llfil*,999
?Tt)m
OoTemnoDt agenelAi.
Capital and rarplui tubscrlptloat:
By U. S. Trearury
By G«Ternsent agenclfls
By public
999
52.031*
2ll,270
206,895
76,30U
212,61*5
5.7501*/'
775.2095/
15. Us?
10,989
8.U13
Total capital aod surplus subsorlptloai.
3.518
799.111
Appropriations 6/
2.7'*1.''77
Sale or collaction of InTostoents;
Public debt obligations of United States.
Securities of OoTernment agencies
Other securities
205,816
1,392,299
Total sale or collection of Investments-.
1,631.860
10.989
-115
-13,1*1*9
ll*,9U2
53.7't5
11.373
18.833
Sepaynent e on loans
lt,251,U62
Sale of acquired security or collateral
1, tog. 391
Decrease In working capital and deferred items 8/
750,2U18/
Funds proTided by profit on operations 2/ 10/.
198,20810/
Other sources
39.189
Total funds provided.
3.5I8
853.378
17.1'»5.070
11*,
'».233
072 2/
11.011*
36,297
29.866
617
288
15,221*
71
29l*U/
28,978
lU.9lt2
1*67.585
21,336
3.892
2
19.733
1*95.159
503
29
666
58,
31*9
853,378
861
6.283
291,015
695.701*
^pplloatlon of funde
Bepayaent of borrovlngs:
To U. S. Treasury
To Goret^uDent aeencies.
To public
1,169.5110
2,5118,209
21*6.693
10.275
110
21*6,693
10.275
58.720
17
11,106
17
69,gli2
17
687,361
Total repayment of borrowings.
It,
Repayment of paid-in capital:
To U. S. Treasury
To GoTernnent agencies
To public
Total repayment of paid-in capital.
Purchass of Inrestments:
Public debt obligations of United States.
Securities of Government agencies
Other eecurlties
Total purchase of Investmente.
1105,
218.075
2.595
2.595
307. 93t
l,9Wt,270
19.811
7.396
^
Total funds applied
27,000
lt,398,70U
28,9781/
636
50,176
763
1,171,900
1,6511,639
1,51*2,023
1.1*61,813
169,021*
18,351
19.601*
2.272.015
Loans made
Acquisition and improvement of acquired security or collateral
Acquisition and improvement of land* struct'ores, and equipment
Increase In vorlclng capital and deferred Iteme.
funds applied to lose on operations
Other applicatione
218.075
1.850
12
111
2.729
2,2631*/
217,2'*2
12,381*
5.1*57
13.1*61
1U,81*8
2,716
11.553
557,595
28U,230
?51,H7
18.
«1
UU5.578
27
13.700
1.899
2.535
17.11*5.070
15,221*
28.978
1*95.159
58,31*9
853,378
861
6,283
e91,015
695, 70U
1,281*, 181
•12.389
3.891
13,537
-3,21*2
Zgk.SJO
108
-273
1.753
620
-6
76
92
98
125
9
90
-367
-135
-1.750
-15
-293
-89
-22
l,''55
503
^dJuBtmentfl of net Inoome or loee
Vet income or loss 11/
Deprsciation and obsolesceaoe
Assets charged off
Cs^ltal gains and losses 12/
Adjustments of val'jation reservee.
Other adjustment s
.
8,9"*9
i*,597
1
1
9.307
-6.151
3.875
Funds provided by profit on operations,
funds applied to loss on operations.
.
.
198,208
1,1*61,813
3.892
12,381*
less than tyx.
Consists of (1) corporations in vhlch ths Itaited States Oovernment
has a propristary Interest, direct or Indirect, except federal eavIngs and loan associations and those corporations in vhlch the proprietary Interest of the United States is evidenced only by preferred stock or capital notes acquired through the Reconstruction
13,1*61
2.716
2eU,230
1,899
finance Corporation or production credit corporations; and (2) certain credit activities of the executive depertaents and Indopaitdent
establishments of the United Stetes Goveroaect.
Consists of Instituts of Intsr-American Affairs, Institute of InterAserlcan Transportation, Inter-American M'-icat lonal foundation.
Inc., Inter-American Bavigatloa Corporation, and Prenclnradio, Inc.
(Continued on follovlng page)
,
!t/
Treasury Bulletin
62
Sources and Application of Funds of Government Corporations and Credit Agencies
For the Six Months Bmled Deceaiber 31, 1044 - (Continued)
^
(la tho&MBds of dollAra)
Ageleoltarm Dsportant - (eontlsned)
Turn Onttt
IdilmlatratleB -
Var Ibod AABlnletrKfclon
(o«atlm»d)
Itaral
II«otn-
Jbtenl
i^lesltarml
0r«4it Ooxp.
*^
of
Vuhla^a,
Morte^C*
Carpor»tlo&
Tbderel
fl oat ion
OoBDDOdltj
tratloa
Credit
Corpor*^
flun
Security
Innrenc*
Corpora*
tlon
tio&
9. 0.
Ttderal
Crop
Sorplufl
CocuDOd-
Itles
Corpora^
tlon
BouroeB of funds
Sorrovln^ti
Troo tf. S. Trea«ttr7
Tron OovemaoBt afeselot
from publlo
787.000
lU.OOO
Total borrovlagt
lU.OOO
33*93^
Capital and surplu* subtorlptlontt
By U. S. Treasury
Jty OoTemfflont ageaciei
By public
170
906. U30
65.535
170
500
_iJSL
Total capital and eurplua nbaorlptlone
500
1.885
ipproprlatloni 6/
89.062
5.875
Sale or collection of InTestmente:
Public debt oMlgatione of United 8tatea...Securities of Oovemaent a^enclee
Other eecurltlee
Total aale or colleotloa of i&voetmente
20,U7U
260
191
50.152
176. 008
U
55.165
25&_
^.9U0
196,U86
Bepaynent e on loana
Sale of acquired aeourity or collateral
Decreaie In working capital and deferred Itoaa 8/
fundi provided by profit on operatlont 2/ Iff/Other Bourcee
.i2L_
55.165
15.U07
22
;.aD2
3l.»*96
2».t37
121
U.fiTl
•
50.9'*^
1*7
.773
156.097
1.35«.553
71. (BO
86
156
3
1«7
9
150. U15
Z5.ST*
±hL
Total fundi provided
Applloatlon of
65.535
119. U30
33.93^
226
28
3.56a
a.ita.owi
230.925
717
723
fundfl
Repayment of borrovlngst
Ton. S. Treasury
To OoTernnent agenolee
To public
55.113
879.169
V
331. 5g
Total repayment of borrovlo^t.
Repayment of paid-in capltali
To U. 3. Treaaury
To Oovemfflent aceneiea
To public
12.112
107.000
532.000
21.079
112.639
131.079
62.321
533 11/
611. 639
62.321
533
182.731
32.572
1.152,271
no
39.500
g.070
Total repayment of paid-in oapltal.
20.
H3
39.500
Purcliaae of InTaetmentat
Publlo debt oblleatlona of United Statea..
Securltiea of Ooremaent agenolea
Other aecurltlea
12, a2
5. 750
Total purcbaae of Inveatmenta.
17.963
Loana made
Aoquialtlon and l^roveaent of acquired eeeurlty or collateral
Aequlaition and lgq)roTeaant of land, atnoturae. and equipment
Inoreaae In voriclng capital and deferred Itaaa.
?undt ^>plied to loea on operatlona
Other appllcatlona
50.161
231
206
50.667
231
33.718
8.002
17.979
*7
11
1.356
7.086
152
98
^
18,710
89.630
351,803
18
Total fundi ^plled
150
15.132
8. 651
190
716
81,585
50,911
17.773
150.115
25.871
2.121.080
230,925
717
7.I17
51
80
2,251
-1,32«
1.583
187
-727
-1
-351.825
22
-U.165
•
-199-
-a. 335
957
-1
1.162
-113
3.I9U
_72i.
Adjustmente of net Inoone or loae
Vet income or loii 11/
Depreciation and obioleaoenoe
Aiieta charced off
Oapltal galna and loaaea 12/
Jkdjustaenta of raluation reaeme....
Other adjuataenta
rands prorlded by profit on operatlona.
Panda a|>plled to loea on operatlona....
Oonalati of
IF Development
126
-39
2.833
1.671
226
187
jajoi.
98
Car^oea, loo.. Petroleum Keaerrea Corporation, lubber
Corporation, and U. 8. Commeroial Oempaoy.
figure ii ihovn net; a crosi figure ti not arallable.
loprsients net expeoditurea from the Oe&eral fund of the Treaaury
in the amount of 1775.209 thonaands for the purchaae of obllcatloai
of OoTermeat oorporatlona.
Ihlfl
27
382
121
8,511
J
226
11
8. 651
716
Kepreianta net axpaoditurei from appropriated fundi.
Ixoludei loans made by eommeroial banlta on behalf of the IzportImport 3aa)c under a^eaoy acreamentt.
The Increaie In wortlo^ capital aod deferred it«ia la shown belov
unAsr "Application of funds".
for additional iafonatlon, see the adjxiatmeats of nst incoms or
(Oeatinuad on follovlac ps(e)
..
April
63
1945
Sources and Application of Funds of Government Corporations and Credit Agencies^
For the Six Months Ended December 31, 1944 - (Continued)
(In thoueands of dollars)
Commerce Dapartment
Interior ZtopartsBnt
Off lot
XnlazLd
BeconstrtLctlon finance Corporation and
oertaln affiliates
W&terviji
CorpoPft-
tlon
15/
Saeon•truotlon
tlnanca
Corpora-
tion^/
Sources of funds
Borrowings:
From U. S. Treasury
from ftoTernment agencies.
from public
98U,OO0
Total borrowlngB
Capital and surplus eutiecrlptions:
By U. S. Treasury
By O'OTemmeat agencl es
By public
Total capital and surplus euhscriptlons.
Appropriations 6/
Sale or collection of InveBtmente:
Public debt obligations of United States.
Securities of Qovernment egenclea
Other securities
Total sale or collection of Inrestments
.
Repayments on loans
Sale of acquired security or collateral...
Decrease in worfclng capital and deferred Items
funds orovlded by profit on operations 2./ lO/Other sources
Total funds proTlded.
8>
3U2
6
355
Application of funds
Repayment of borrowings:
To U. S. Treasury
To Oorernment agencies
To public
Total repayment of borrowing
Repayment of paid-in capital:
To U. S, Treasury
To QoTernment agencl es
To public
Total repayment of paid-in capital
Purchase of InvestmentB:
Public debt obligations of United States...
Securities of OoTemment agencies
Other securities
Total purchase of Investments
Loans
isad
275
275
e
Acquisition and ImproTement of acquired security or collateral
Acquisition and imuroTeoent of land, structures and equipment
Increase In working capital and deferred Items
funds applied to loss on operations 2/
Other applications
,
Totel funds applied
11
69
i5r
Adjustmenta of net In o ome or loee
Ket Income or loss 11/
Depreciation and obsolescence
Assets charged off
Capital gains aol losses 12/
Adjustments of raluatloo reserves
Other adjustments
funds provided by profit on operations,
funds applied to lose on operations....
U9
293
3^2
StaaBter
Loan
Corporation
federal
national
Mortgage
A«Bo elation
The RfC
Mortgage
Company
of
Indian
Affalra
Other
Indian
11/
Loaaia
DlTlelon of
Territories
and laland
PoBaeaelona
Puerto
SI CO
The
Secon-
Virgin
Paarto B.lean tructlon Ifllends
Adminis- CoDpany
Harrlcane
tration
Belief Loan
Section
18/
Treasury Bv^^etL
6U.
Sources and Application of Funds of Government Corporations and Credit Agencies
For the Six Months Ended December 31, 1944 - (Continued)
i/
(In thousands of dollare)
Justice
DepaartDient
federal
Prlaon
Industries.
Inc.
Savy
Department
Sale of
Sorplua
Supplies
(Vorld
Var 1}
Treasury
Department
War
I
Depart-
Federal
Security
nent
United
Hlsoel-
States
laneoTiB
Spmce
loane and
Prodno"
certain
tlon
other
Corporaassets 1^/
tion 20/
Tederal
Office
Deposit
of
Insurance Sdncation
Corporation
XioanB
to
students
National Housing
Agency (continued
on following page)
Federal Home Loan
Bank Administration
War
(continued on
Public
folloving page)
WorksFederal
coimnunlty ?edBral
Sorlngs and
facilihome
Loan
Insurties
loan
ance Corpobanks
federal Works
Agency
Public
Works
Administration
gfttlon
S ources of funds
Borrowings:
From tJ. S. Treasury
From OoTemmont agencies
From public
22,500
Total borrowings
22.500
Capital and surplus subscriptions:
By U. S. Treasury
By Government agencies
By public
775.2095;
3,010
Total capital and surplus subscriptions....
^proprlat lone
775.209
3,010
6/
2.963
Sale or collection of Investments:
Public debt obligations of United States...
Securities of OoTemment agencies
Other securities
Total sale or collection of investments.
28,501
^
Total funds provided
79.685
1,161,03s
1.238
..
Repayments on loans
Sale of acquired security or collateral
Decrease In working capital and deferred Items Sj
Funds provided by profit on operations
10/.
Other sources
60,ll«2
1,U5U
50
.162.276
28,5P1
97s
5.7U5
6,008
10,059
301
2S
52.633
1(«,928
329
1.991.131
102,516
EL
1.U75
79.736
92
2,01*1
1*90
70
5.097
6,990
1,200
119,310
660
2.869
1,1*97
3.906
228,922
5.767
3.g7U
"i?r
10,101
67,962
Applloatlon of funds
Hepayment of borrowings:
To U. S. Treasury
To Oovernment agencies
To public
li*,OOQ
Total repayment of borrowings.
ll*,000
Repayment of paid-in capital:
To U. S. Treasury
To Oovernment agencies
To public
301
5.336
301
5.336
1*1*0
Total repayment of paid-in capital.
Purchase of Investments:
Public debt obligations of United States.
Securities of Qovernment agencies
Other securities
1*1*0
100,000
91.739
i.nsMisy
Total purchase of investments.
1.938.'t98
Loans made
Acquisition and improvement of acquired security or collateral
Acqiileition and Improvement of land, structures, and equipment
Increase in working capital and deferred items.
Funds applied to loss on operations
Other applications
91 77s
,
1.23't
812
121,596
1,151
185
1.189
12,890
766
^
Total funds appl led
5.000
2,717
1.^75
329
5e.633
131
1.991.131
102,516
"W
1*9,276
-26
1
26
161
5U,26l
2.01*8
1,11*8
67,962
228,922
5.767
261
1,567
3.988
Adjustments of net Income or loss
Net Income or loss 11/.
Depreciation and obsolescence
Asset 8 charged off
Capital gains and losses 12/
Adjustments of i^luetlon reserves.
Other adjustment s
Funds provided by profit on operations,
i^^inds applied to loss on operations. >.
16/
17/
1.33?
-5
52.633
l^
-2.717
-51*,
22
-501
l.hik
-92
-31
p
69
-25
_i.
elude fund5 of Warrior River Terminal Compare, Inc., a wholly
owned eubeldlary.
Includes fiinds of the Electric Home and Paro Authority, transferred
for purpoBeg of liquidation to Heconetructlon Finance Corporation
effective October 3I, igUs.
i^onslBta of Defense Plant Corporation, Defense Supplies Corpora^nftntlmisrl on f
1
1*8,928
52.633
1.1*97
2.717
51*,
3.906
261
tion, Metals Beserve Company, Hubber Reseinre Company, and War
18/
19/
.1
I^Bge
Corporation.
Information not available.
Includes advances to Government corporations for which guaranteed
securities are held by the Treasury; advances to Federal Reserve
Banks for industrial loans; funds from securities received by the
\r>v\r)f nn/^A^
.
April
.
65
1945
Sources and Application of Funds of Government Corporations and Credit Agencies^
For the Six Months Ended December 31, 1044 - (Continued)
(la thoiuaads of dollars)
National Housing A^nacy - (contlau«d)
federal Public
Bousing Authority
and affiliate
T«d«ral Hone Loan
Bank Adinlalitratloii(contlnxied)
Boa*
Owners'
Loan
Corpora-
tion
federal
United
States
Houaloc
Corporation 20/
Homlnc
Adainlstratlon
federal
Public
Housing
Authority
Defense
Hones
Corporation
Panama
Ballro^
Coopany
Tennsssee
Valley
Associated
Cooperatives,
Inc.
Tennessee
Talley
Authority
United
States
Marltlse
Codd1s-~
slon
Source 9 of funds
Borrowings:
from U. S. Treasury
froD i>OTemment agencies.
from public
22 U/
1.675
U.l(06
Total borrowings
1.675
Capital and surplus subecrlptlons:
By U. S. Treasury
By flovemment agencies
By public
Total capital and surplus subscriptions..
W.Ogg
Appropriations S/
Sale or collection of InTestmentst
Public debt obligations of United States.
Securities of OoTernment agencies
Other securities
Total sale or collection of Investoents.
lU.125
1.72l'.532
126
26.370
2.891
11.979
2.891
11.979
Repayments on loans
..,
Sale of acquired security or collateral
Decrease In working capital and deferred Items 8/
funds proTlded by profit on operations ^Z lo/.
Other sources
Total funds provided.
11*2,159
lU.320
29.659
15.529
213,61*6
825
1,U22
11.657
52
10,277
877
30.65U
6,212
17
"•.952
17
15.252
1.7'»9
1,089
216
2.555
3.013
It.
305
9.582
57T
2't,U06
1.750,902
<Lpplloatlon of fundB
Repayment of borrowings:
To U. S. Treftsury.
To Oovernment agencies
To public
Total repaymer* of borrowings.
160,000
50
38,812
12U
198,662
161
Renayvent of ?eid-ln capital:
To U. S. Treasury
To (}oTem?!ent agencies
To public
Totftl repsTient of paid-in capital.
37
226
815
226
815
Purchase of investments:
Public debt obligations of United States.
Secirltles of Oovenment agencies
Other securities
Total purchase of Investments
-
569
lU4
12,895
Ik
3
626
3.535
286
991
11,32'*
1.67U
70
19.7.99
.607
1.359
700
SU.UOfc
15.S58
213. y*6
351
9.696
-2,930
17)
822
2.1U3
"13
-298
15.589
52
-259.
"m
"•.695
778
-197
100
-7U
-1
Sure«a 0/ Ial«rii«l Brreira. In ••ttl.ment of tK ll.Mli'.m; ninoiT
frOK B.curltlet reclred froo th. Heconitructlon finance Corporation vmler act of r«linl»r7 2ll, 19J8; fund, from <tock In TwJeral
•avln^s and loaa aatoclatlont fund, froo railroad loam (Tran.portatlon Act of 1920); and fundi of U. S. Rallroal idnlnl.tratlon
U,i66
1,756.9«
621
167
11
11.7)3
-10,850
1.098,76)
397.911
253,9''2
2.930
21
- .
:
3.535
lU,852
1^,627
AdJuetnente of net Inoome or loaa
World Vir I).
1.339
1
,
yet Income or loss 11/
Depreciation and obsolescence
Assets charged off
Capital gains and losses 12/
Adjustments of valuation reserves
Other adjustsente
funds provided by profit on operations,
funds applied to loss on operations....
1.339
lU,850
Loans SMde
Acquisition and Improveoent of acquired security or collateral
Acquisition and iTirDroveinent of land, structures and equipment
Increase In working capital and deferred Items..
fuada applied to loss on operations 2/
Other aopllcntlons
Total funds applied
U/
1.089
10.277
2.930
20/
21/
WorU War
2.555
5.'»69
9.582
253, 9U2
i corporation In liquidation.
Includ.t rapurchaae of $176,000 thoiuandl of th. Becontti-Mctlon TtThu. not..
aaac. Corporation notei from th» fwleral land liao)ci.
war. originally purcha««i by tht Treajury froa th. Recon.tnictlon
Tlnanc. Corporation and w.r. .old to th« I«l«ral land haaki prior
to Ju». 30. 19'*-
Treasury Bulletin
66
INTERNAL
REVENUE
STATISTICS
..
..
•
April
..
.
...
1945
67
Summary of Internal Revenue Collections
^
(Id thouaaodt of dollars)
ritcal year
or south
Total
receipts
from Internal reTenue
(Dall7
Treaiury
Statesant)
Incose and profltt taxee
Adjuttaent
to Sally
Traaeury
Statement
3.277.690
3.512.852
Total
Internal
rerenue
collectloat
Total
Incose
and
profit*
taxes
Individual
2/
y
'».597.1l«
ig"*)
19U1
19l<2
7.361.675
12.993.118
19"»3
19Ul(
22,ll»3.969
Ul,6glt,9g7
1.565. '•77
22,368,721*
1*0,119.510
2,U63,723
6.352.536
-669, 6U3
5113 6U7
3.133.366
5,808,888
2.1*76,721
-395.320
-52,628
3.330,1*35
2,809.003
2.289.328
U.568.UI3
,21*3.791*
1.729.1*91
1.712.1*02
1*. 1*89. 671
,318.91*1
3,281,791
1,105,788
18.521
3.U9l*,33l
1.1*27,1*1*6
67i*,l*i6
U, 6311,308
5.6U3,gltg
2.179.828
2,629,030
5.161,231
-37.168
30,1*70
-1.133
5,162,361*
2,185,111*
1.091,7Ul
1,286,312
1.028.g3U
5.303.13I'
-19.637
5.322,771
2,129.609
lO.l&l
7.35l.53>'
3,1*71,121*
-36.797
-22U.755
13.029.915
8,006,88U
16,298,888
33,027.802
5, 671*. Tig
19ltl»-rel)ruary.
.
March
101
,
2.935.115
JUI7
1.9«U.6l*6
Au^et
2.702.Ug6
-lt7.863
2,620.11*9
2.750.3't9
September.
5.7'*«.9g5
691.71*8
5.057.236
October.
SoTember.
December.
1,880,U76
2,300,370
-607,262
-95.871
1.809,766
1.633. 189
't.9't5.'«7
679.875
2.1*87,738
2.396,21*0
1*. 265, 612
3,669.61*2
3.0te.lt77
-631.287
-170.735
3.673.76U
3.985.292
3.02U.161*
3.157.95"*
3.023.5'»5
5. 73''. 169
.
.
.
.
I9U5 -January....
FebruAry.
.
3. Silt. 557
3.076,173
5,111,658
622,512
-635,503
527.113
laneoua
profits
taxes kj
Total
esploysent
taxes
Social Security
taxes
Old-age
Insuraztci
572.115
738.521
1.056.909
1.299.932
1.122.5U1
6.560
1U.909
31.178
265, 7U5
1*2.786
71*2,660
33.71*0
7110,
1,120,582
2,016,297
687, 1*62
27.010
37.172
56.621
Uneaiploysent In-
surance 6/
1*8
1*8
287
1U9,U76
U29
833.521
925.856
1.185.362
605.350
687,328
895.336
106.123
100,658
119.617
156. 008
183. 337
122.01*8
20.206
'3.057
81*,2l*l
1.1*98,705 1.131,51*6
lU, 629, 31*5*
137.1*52
1.738.372 1.290,025
2,075.328
!9ll* 138
396.188
5.205
28,012
317.390
199. 8U9
3.W5.956
'•9.590
3.1*83
97.336
3.0U9
12,250
9.753
18,970
97.605
303.859
'W.395
251*.
91.109
715
11.081*
51*2
1.165
.859.231
.288.899
552.959
1*20. 3W*
3.260.51*1*
1/
58.119
90.267
101.167
9.58U,715
1*.
BallroBd
retirement
207.339
502.918
529.836
982,017
l,Ui7,655
3,262,800
6.629.932
18. 261. 005
5.358.106
April
Kay
June
Ml seel-
5/
1935
1936
1937
1938
1939
-It,
Corporation
Incose and
excees
profits
taplojmeat taxes
I*,
109. l«7
137.871
170.1*09
211.151
265.011
U.602
38,060
38,689
6,663
136, U75
127,81*6
5.91*1
2,688
,31*0.1*16
366,022
5.96I.
3,108,1*61*
2U.S35
261.058
38.5O8
216,672
3.353
8,966
677
35.1*20
,356.371
1,322,758
1*78.507
382,066
8,501
6,836
13lt.095
21*3,026
125,1*70
l,2l*l*.287
327.870
3.3l'».922
26,gi*9
36.981
199.507
3.10U
5.6gg
7.991
877
2,937
35.528
33.000
2,617.322
2,726.523
1*01,817
1*25.366
5.026
6,065
102.795
71.268
19U,263
30.02I*
106.572
1.502
16.577
1*03,887
317.1*12
3l*,l*78
Mlscallaaaoue iutamal raTesua
?iacal year
or month
Total
Biacellaneoua
Intersal
rereDue
1935.
1936.
1937.
1938.
1939..
1.61*9.781
191*0. J
191*1..
2.359.61*1
2.95'».553
191*2..
3.837.670
1*. 571. 131
5.353.336
2.00U,513
2.188.735
2.272.158
2.236,821
Capital
atoek
tax
91,508
9U,9U3
137. "»99
139.3'»9
127.203
latate
and
gl«
taxaa
Alcoholic
beveraee
tazea
212.112
"*10,926
378,81*0
305.5"*g
505. 2U3
593.831
567.669
587.605
W6.87'*
360.715
Kanufacturera and
retailers'
exclae
taxes
*
Tobacco
taxoi
U58.776
500.785
551.923
567.777
579. 78U
StaA^
taxes
3'«.275
79.5"*
Miscellaneous
taxes
8/
1*6,233
1*1,083
"*16.75'*
91.051
76.173
go,i6l
117,502
396.891
11*3,51*0 t
38,681
39.057
1*1*7.088
11*8,925
206,831
'»3.133
68.990
69.919
9.85U
Ul*'
132.739
166.653
281.900
328.795
380.702
360.071
507.058
62U.061*
1*32.51*0
1,01*8.165
l*S*7,l*96
1.1*23.1*00
6O8.073
697.712
780,792
923.857
'*5.155
617.373
852.069
670.015
511.210
1.618,01*5
988,1*83
50,800
728.691*
1.075.1*01
339, 25^
1*01,192
2U7
38,1*50
60.361*
108,395
123.999
67.,"»70
U.123
U.586
62. 61*6
58.720
57.92U
76.35U
April
May...
June.
1*23,827
193
152
1.035
169.333
1*1.862
182.31*5
"33
50.09*
191*.
863
71.893
80.868
81.083
lt.800
U82,986
U9g,gU9
51.297
76,663
&t,Vib
70.ao6
96,775
102.910
July
August ....
September.
75"*.
183
776.889
529.058
128.357
193.918
29.170
U7.687
62.670
35.310
209,939
77.31't
5.233
86,022
77.507
vz
71.586
87,679
8U,763
2lU,068
201,91"*
October.
SoTsober.
December.
5"*3.877
18.61*0
196.077
520.025
558.989
36U
311
38,520
31.707
203.75'*
77.521
81.180
113.119
102.617
1*9,690
201. "»6l
70.601*
5.1l«
U.893
9U.656
95.259
119. 5»2
112,1(88
51*6,806
-21
2U7
"»9.295
206.1*08
37."*"*5
19l».59'*
78.1*50
66.01*7
5.718
5.893
116.579
H5.9"*6
90.376
89.755
191
WUU.'
igUU-rebruary
March
191*5-Januar7.
February.
«•:
1/
2/
^
U/
509.926
1*72
56.103
819,869
76.697
182. 761
(1) Total receipts from internal rarasua
Dally Treasury Statements;
(2) Detailed collectione by type of tax:
Esports of collections made
by collectors of internal reranue.
Sxcludes collections for credit to certain trust accounts for territories and insular possessions, etc.
Includes collection of taxes withheld by eoployers pursuant to the
Berenue Act of 191*2 and the Current Tax Payment Act of 19U3.
Includes income tax collections on Alaalcan railroads. Ths excess
profits tax included in this column is that iapossd under the
Second Rereaua Act of 191*0, as amended.
Consists of tba declared Talua excess profits tax, the profit limit-
6/
1*1,702
"».i*50
Agricultural
adjustnent
taxes
526.22?
62.323
1*00,501
732.332
139.09"*
115.099
lag proTlslons of the Tlnson Act, and the tax on unjuat enrich'
sent.
Eapresents collections under the federal Insurance Contrl'butlona
Act cooceaclng September 1939> prior thereto, collections under
Title Till of the Social Security Act.
Represents collactlons xinder the Federal Uneoployaent Tax Act
coioenclog Saptaaher 1933: prior thereto, collections under
Title IX of the Social Sacurlty Act.
Represents collections under the Carriers Taxing Act of 1937.
Includes tax collactlons under the Sugar Act of 1937 and under
the dlTldends tax l^oaad by the Act of June l6. 1933-
Treasury Bulletin
(>i
COLLECTIONS OF INTERNAL REVENUE
DOLLARS"
Bllltons
Total
40
35
-Fiscal year
30
25
^Comparison
8 months
1944 and 1945
first
fiscal years
20
15
10
1930
'31
'32
'33
'34
'35
'36
'37
'38
DOLLARS
Bllllent
18
W30
15
'39
'40
41
42
'43
44
'45
April
1945
69
Detailed Analysis of Internal Revenue Collections i/
(!
tboueands of dollars)
?lacal years
first S DODtbs
Type of tax
19U3
IncoDS and profits taxes;
Individual:
Withheld by employers:
Current Tax Payment Act of I9U3 2/
Revenue Act of 1*2
Other:
Current 2/
Back
Total individual incone taxes
Corporation!
Income taxes:
Current ^/
Back
5,771,001
172.916
10,253,831
5,'t'»0,682
6,629.932
18,261,005
136,967
383.885
'1,762,71''
2,'i86,637
521. ''31
372,652
5.063.86't
9,58'i,715
9.3''5.1?8
82,012
136,980
>•.
Excess profits taxes (Second Berenoa Act of l*Oi
as amended)
Total corporation taxes
Miscellaneous profits taxes:
Declared value
Vinson Act
Unjust enrichment
'*,581.019
781*.
JSh.
February
ISW
1*5
7,038,U38
78U,q97
686,015
February
Fiscal
year
year
loWt
19U1»
7.'* 89.
067
368
761
'•,595.852 kj
168.007 VI
l'<9.177
10,9511,91(3 r
1.891,502
l,8't3,7'*9
1.099
27
221,31'*
758.906 iJ
76.088
9.166
12. 25''.'* 88
2.075.328
2.378,355
301,971
61l,'*81
'*.120.252
6.200.72''
6.979. 5**!
8i881,0U9"
299.850
396,188
"Ttf
25.366
5.189
6,062
68.0U6
90,6'*O
2,726.523
r
31.856 r
56.066
67,016
1.381*
39
382 r
101
li
68,'*67 r
90,7Ul
5.205
6,065
18,002,951
21,226,279
2,1*76,721
3.157.95'*
1,290,025
183.337
936.175
9ln,l*glt
199,8'»9
1 63.''36
166.736
97.336
l,287,55U
l.'*73.36l
1,099,611
265.011
1,108,220
162.130
297.181*
211,151
20.206
300,835
16.577
1,1*98,705
1.738.372
1.270,350
317.390
317.1*12
1,808
/
Total miscellaneous profits taxes
Total income and profits taxes.
8U,2Ul
137. 1*52
16,298,888
33,027,802
1,131, Site
156,008
bployment taxes:
Social Security taxes:
01d-a£e insurance GJ
Unemployment insurance Jj
Total Social Security taxes
Railroad ret Irenent 8/
Total employment taxes
Miscellaneous internal revenoa:
Capital stock tax
Estate tax
Oift tax
Alcoholic beverage taxes:
Dlstillsd spirits (imported, excise)
Distilled spirits (domestic, excise)
Distilled spirits rectification tax
Wines, cordials, etc. (imported, excise)
Vines, cordials, etc. (domestic, excise)
Brandy used for fortifying sweet wines (repealed
as of July 1. igltO)
Dealers in distilled spirits; rectifiers; mamLfacturere of stills (special taxes)
Stamps for dlatllled spirits intended for export..
Case stamps for distilled spirits bottled In bond.
Contslner stamps
Floor taxes
Fermented malt liquors
•
Brewers; dealers in malt liquors (special taxes]..
Total alcoholic bever^e taxes
Tobacco taxes:
Cigars (large)
Cigars (small)
Cigarettes (large)
Cigarettes (snail)
Snuff
Tobacco (chewing and smolclng)
Cigarette papers and tubes
Leaf dealer penalties, etc.
Cigarette and cigar noor taxes
'.
Total tobacco taxes
Stsap taxes:
Bonds, issues of capital stock, desds of convoyance etc*
Transfers of capital stock and slailar Interest
sales
Playing cards.
Silver bullion sales or transfers
,
Total stamp taxee
1,2'*2.923
263
106.572
191*.
378.850 r
370.987
2U7
2U7
'*66
295.32't
^'*5.13'*
•^6.qU3
35.207
32.965
37.7't5
7. ''9''
7.190
1,506
2.238
83,Uo6
698.300
18,836
286,871
15U,9lio
6U,83S
368.737
12.13't
7i*3
18.87''
't,027
32.920
30.068
119,191
903.551
21.073
1,606
30.2U5
728.795
380.702
Ullt.531
1173
1.869
17,501
12
7,008
1
1.299
10,5U9
111.539
8,109
2
1.369
8,516
85.831*
23.7'0
>to,6ai
1,580
537
2,117
81,97''
'*23.128
2.''''5
2.077
5.296
5
662
8,0l*8
2.7't9
,
^53
11,005
51
51
5.660
2
1.169
5,391
25.662
351,995
11.137
931
11'*.
82
90
60
757
82
1*6
•
38.922 r
885
17. S"*!*
1*2,97'*
3.238
559.152
3.375
1,1123. 1180
1,618,01*5
9''7.505
1.596. 908
108,395
19!*, 59**
23.075
97
30.152
107
19.531
2li.083
63
88
1*5
«35,231
903.958
7.692
620,572
5.077
31.797
59
290
551.282
5.003
33.125
798
2.539
9
5
60,988
3.063
- 52
30
'*55.63't
7.5''3
25_
JO-
58
631
3.210
58,358
701
3,816
86
102
U7.8U9
1,U72
U
8-556
'•5.26?
I,l6i»
923.857
988,'*83
677,9''2
6l'*.6U5
67. ''70
66.0U7
21.766
26,2'*3
17,027
21,1'*8
2,003
2,«7
15.585
17,096
10,722
1.59"*
2,683
7.69''
7. "n't
"•.859
15.808
5.291
l£_
52U
51*0
1*2.263
''123
2
50.
82l*
2
;
3£_
:
iL.
'*5,155
50,800
(Continued on following page)
32.61*2 r
1
6_
L-
u
5.893
70
Detailed Analysis of Internal Revenue Collections^- (Continued)
(In thousands of dollars)
Type of tai
Treasury Bulletin
April
1945
71
MONETARY
STATISTICS
Treasury Bulletin
72
Gold Assets and Liabilities of the Treasury
(In mlllloBii of dollart)
UabUttlai
bd
of eal«adar
jear or month
Oold aeieta
8,238.6
10,122.9
11.257.6
12,760.0
193'».
19351936.
193T.
1938.
l>l,;il,2
Oold certlflentao 1/
Oold reserve
against U. S.
note*, etc. 2/
5,27lt.O
7.679.5
8.959.6
9.212.3
11,872.8
i7.6U3.lt
21.99't.5
15,278.6
22.736.1
22,726.3
19,825.l»
Exchange
Stakllliatlon
?und J/
Sold In
Oenoral ?und
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1,800.0
1,800.0
1,008.6
U87.U
3UI.9
1.591.6
156.0
156.0
156.0
156.0
156.0
156.0
1,800.0
1.800,0
1,800.0
1,800.0
1.800.0
1,800.0
Uoe.9
213.2
215.3
158.
160.7
165. u
632,
19UJ.
a. 937.
20,565.8
20,611.9
19,221,0
19Ult.
ao,6i8.8
18, U97.lt
19ltl4.rabniai7.
a, 711.6
21.599.9
19.591.0
19,Un.2
156.0
156.0
1.800.0
1.800.0
16U.6
166.7
April.
Hay...
June.
21,1*29.2
19.319.2
19.150.9
19.063.5
156.0
156.0
156.0
1.800.0
1,800.0
1,800.0
15U.0
156.8
153.5
July
20,995-9
20,926.3
20.825.1
18.876.9
18.S12.U
18. 700.
156.0
156.0
156.0
1.800.0
1,800.0
1,800.0
163.0
157.9
168.3
20,726.7
20,618.8
18,605.1
18,581.1
18,U97.U
156.0
156.0
156.0
800.0
800,0
800.0
165.5
151.2
1S5.U
20,5U9.g
20,506.0
18,U26.0
18,398.3
156.0
156,0
1,800.0
1,800.0
167.7
151.6
ijltl.
March....
21,263.7
21,173.1
Au^et....
Septembar.
Oetohar.
Hoveober.
20, 688.
Cecemtier.
19U5-January
<.
Tehmary p
Source:
p
^
Dallj Treaaury Statements,
Preliminary.
Conpriees (1) gold certificates held by the public and in Toderal
aeserre Basks; and (2) gold eertlfleats credits In (a) the Sold Cer-
2/
y
tificate fund - Board of Oovernors, ?ederal BeeerTe System, and
(b) the Redemption Tund - Federal fleserre notes.
Ht serve against United States notes and Treasury notes of 1890.
Ixeludes gold In aetive portion of Sxohange Stabilisation fund.
Monetary Stocks of Gold and Silver
(In millions of dollars)
End of fiscal
year or month
Oold
(«35 P«r
fine ounce)
Silver
($1.29* per
fine ounce)
Batio of
silver to gold
and silver in
monetary stocks
1935
1936
1937
1938
1939
9.115.6
10,608.U
12,318.3
12.963.0
16,110.1
l,U63.1
2.2U9.5
2,5U2.1
3,o66.U
3.605.2
13-8
17.5
17-2
19-1
18-3
I9U0
19U1
19U2
19Ul
19UU
19.963.1
22,62U.2
22,736.7
22,387.5
21,173-1
5!lU8!7
U, 306.3
U.298-5
3.9U7-9
16.5
15.5
15.9
16.1
15-7
19UU-rebruary
March
21,711.6
a, 599.9
U,1U7.1
U,lU2.6
16,0
16.1
ipril
Hay
June
21,U29.2
21.263.7
21.173.1
U,088.3
U.O83.6
3.9U7-9
16-0
16.1
15.7
July
August
September
20,995.9
20,926.3
20,825.1
3.938-3
3.910.1
3.905.9
15.8
15-7
15-8
October
November
December
20,726.7
20,688.U
20,618.8
3,889.0
3.876.5
3,870.6
15.S
15.8
15.8
20,5U9.8
20,506.0
3,SUl.l
3.83U.S
15.7
15.8
19U5-January
February p.
Source:
p
Daily Treasury Statement and Circulation Statcaente of United States
Money,
Preliminary.
.
April
.
.
J
..
3
73
1945
Components of Silver Monetary Stock
(In
SllT«r
alUlsBi of dsllari)
fa«ld la
fnmvaj
Sllvar outilda
TraaauTT
Saourlnc illTar
End of caloDdar
year or month
oartifleatM 1/
Sllrar bullion
Total illrar
at $1.29
In a«Q«ral fund
par ouafia
SilTor dollara
Sabsidlarjr
««lB 2/
Bullion for
racolnac*
y
Bullion
at coat
SllTar
dollara 1/
Sxiballlarr
262.7
36.U
UI.3
U3.U
uH.u
U8.1
323-5
372.8
39U.1
2,806.5
3.3U6.e
3.790.2
52.5
63.0
78.8
96.8
117-5
lt22.U
l«93-5
u. 060.0
U.2ltU.8
771.6
U,317.6
U,207.3
3,870.6
98.6
100.2
686.2
691.8
U,1U2.6
101.7
103.5
105.2
697.0
706.0
71U.1
U,0««.3
coin
^
1.970.1
19351936.
193719381939-
576.9
775-9
938.8
1.137.6
1.298.2
508.7
505.7
503.7
502.7
U99.0
lt.2
19110.
1.398.1
19U1.
l.lt76.1
U9U.e
UgU.l
2.3
3-5
llOO.U
ll'.k
19UU.
1,316.2
1.520.0
1.520.1
376.5
12.5
396."
19.5
18.8
17.6
15.1
528. U
March
1,520.0
1.520.1
Iprtl.
May...
Juna.
1.520.1
1.520.1
1.520.1
392.6
390.8
389-2
18.0
12.5
9.7
7.8
505.2
»99.8
July
1.520.1
1.520.1
1,520.1
387.6
385.8
383.7
2.8
1.1
1*3.9
Up.6
106.8
108.6
722.
Saptambar.
.9
>I28.9
U0.6
739.1
3.938.3
3,910.1
3.905.9
October.
Horembar.
Secenber.
1.520.1
1.520.1
1.520.1
381.8
37?. 5
1)20.1
I105.6
112.5
llU.I
117.5
750.3
762.1
771.6
3.889.0
).0
3.876.5
y.tio.6
393.«
391.3
118.6
119.7
772.U
772.8
3.81*1.1
3.83''.8
19Wt-re«iruary.
An{;uat ....
19U3-January
febmary
p.
1.520.1
1.520.1
376.5
375. U
37'i.3
Dally Traaaury Stateaeata and Circulation Statoaanta of Obltad
Stata* Honey.
Preliminary.
Laie than $50,000.
Valued at $1.29* per ounce.
f.l
J.5
5-3
616.0
657.U
662.3
628.2
19-1
5§.1
a.i
20. >i
20.lt
21.2
15.1
11.9
10.2
12.5
525.6
UI48.8
UII.9
Dt.g
lU.7
.2
^
y
2. 1(02.
».1>>7.1
lt,083.6
3.9U7.9
729.'»
Taluad at $1.38» per ouaea.
Valued at $1.38+ par ouaoe or at $1.29 par ounce according to
vhather the bullion le held for recoinace of nbeldtaiy eilTar
coin* or for recoinaca of etandard ellrer dollara.
Silver Production In the United States and Silver Acquisition by Mints and Assay Offices
^
(In aUliona of ounoaa or dollara)
Sil»»r
Silver aoquirad by alnta and aaaay offleee
production
Calendar year
or month
in
Onlted
State*
Ouncai
19351936.
1937.
1938.
1939-
1.5.6
63.U
71-3
61.7
63.9
19110.
191*1.
191*2.
191*3191*1*.
19UU-JaBuary.
Tabruary.
March
.
April.
May...
June..
July
Aueaot
Saptaaber.
October
oTaabar.
.
Dacaabar.
.
Vevly ainad doaeetic
eilTor 2/
lationalliod
•llTar 2/
DBllaro
rorai«B allTor U/
SoUari
Total
lollara
Treasury Bulletin
7^
Seigniorage on Silver
(CnamlAtlT* from JasroBTj 1. 193^ - In rilllone of dBllAra)
Sourc«t of sel^lcra^e on flllT«r lwilll*>a r«wlTi»4 1/
Selgnlora^
Xnd of caleodAT
year or nonth
on allTer
&nd minor
eoliu
195»t.
K3
1935.
1936.
1937.
1938.
1939.
18.5
U6.1
63.7
69.5
n.7
19**0.
122.2
19**1.
182.1
2"^. 7
Misc. illTer
(iDol. ttlrer
bollloQ held
June ll*,193U)
F«wl7-Bln«d
)t«wl7-BlnMl
•l^er (Proc.
•llrer (Act
Dec. 21, 1933) July 6. 1939)
Ug.7
U8.7
SllTer Pttrehai* Act
of June 19
193^
.U
16.8
36.0
5«.0
7U.9
57.3
'18.7
".8.7
Ue.7
Ug.7
Fot.entlal
•el^lora^ on
llrer bullion
Katloaallsed
•llTer
(Froc. of
Mipdorafo
in«. 9, 193^)
rovaloed
51.1
P26.2
302.7
366.7
28.5
3U.5
3U.7
128.7
326.2
«22.1
3|'.7
508.
''57.7
3U.7
3U.7
616.0
705.6
397.5
5UI.6
758.8
950,6
Total
on ellTflr
at ckott in
Oaaaralfuad 2/
152.6
27't.9
U.2
530.7
562.7
3U.7
580.
3U.7
5U.7
3U.7
JU.7
759.U
799.7
818.9
820.6
820.7
1.055.8
1.089.0
1,0U8.2
967.3
717.3
87.6
«7.6
87.6
87.6
87.6
?5.7
U8.3
63.6
299.6
362.3
t«.7
Ug.7
Ug.7
tl:l
58U.3
58U.3
58U.3
March...
303.6
305.7
Ug.7
Ug.7
87.6
87.6
65.U
65.U
5SU.3
58U.3
3U.7
3U.7
820.7
820.7
926.8
922.7
April.
Kay...
June..
y>8.s
315.6
322.6
U8.7
Ug.7
Ug.7
87.6
87.6
87.6
65.U
65.U
S8U.3
5»U.3
56U.3
3U.7
3U.7
65.
820.7
820.7
820.7
887.0
878.3
791.1
326.2
332.7
336.7
U8.7
87.6
87.6
87.6
65.U
65.U
65.U
58U.3
58U.3
58U.3
3U.7
^.7
3U.7
820.7
820.7
820.7
781.8
76O.U
756.7
3't2.8
Ug.7
U8.7
Us.
87.6
87.6
87.6
65.U
65.U
65.U
5«U.3
SgU.3
58U.3
3U.7
3U.7
3U.7
820.7
820.7
820.7
7U1.I
728.3
717.3
Ug.7
U8.7
87.6
87.6
65.U
65.U
58U.3
58U.?
820.7
820.7
697.3
692.5
l9*+2.
191*3.
19W*.
19UU_Fet)ruary,
July
Au^st.
..
Sept ember.
October. ..
November,
December.
351.3
362.3
19li5_January,
365.8
367.7
Tebruary.
"•8.7
lis.
Us.
Ug.7
Dallj Treasiiry Statement..
Theae Itene represent the difference betveen the ooet ittlo. and
the Bonet^ry Talue of silver bolllon reralued .nd held to seeor*
Sourcet
If
2/
^.7
sllTer certificate..
The fl^oree in this oolian are not enmlatlm; as the sBount of
hnlllon held chants, th. potential sel^lorag* thereon changes.
Net Capital Movement to the United States, 1035 through December 1044
[in thousands of dollars.
Vet capital outflow
(-)J
JLnalTVlt of net capital BOTesient
Parlsd
Bet capital
Morenent in
snort-tem
hanking funds
Calendar
HoTeaent In
hrokera^^
ha lances
KoTSMnt
Moveaent In
iraaaaation.
IB taaaetlc
timasaetions
in foreign
s.eurltJLss
BMurlties
yean
1935
1936
1937
1938
1939
(Jan. 2, 1935-Jaa.
1. 1936)
(Jan.
2, 1936-Deo. 30, 1936)
(Bee. 31, 1936-Deo. 29, 1937)
(Doc. 30, 1937-Dec. 28, 1938)
(Doc. 29. 193S.Ji.n.
3. 19U0)
l,Ul2,Ug6
1,195.922
801,915
Ul5,256
1,195,635
96U,629
397. 3U2
255, ;9U
331,268
1.132.383
19U0
l9Ul
19U2
19U3
I9UU
(Jan.
(Jan.
(Jan.
(Jan.
(Jan.
19U0)
19U1)
19U2)
19U3)
19U«)
706. 380
-U96,923
6oU,321
1,283.593
57.15U
852.928
-286,622
561.573
1.16U,75S
U, 19U0-Bec. 31,
1. l9Ul-r«c. 31.
1, 19U2.Dec. 31,
1, 19U3-Dec. 31,
1, 19UiLDec. 3I,
Total (Jan. 2, 1935-Doc. 3I, igItU)
T«75
739
5,Uig
^
6.039
6,811
3U,687
3U
32.990
316,660
600,693
2UU,626
57,196
-85.U27
125,158
191,076
267,008
26,758
115,689
-2U5,062
-261.955
U6.599
27.767
aio ,7? 5
911.832
78,1'>6
3.513
13.372
8.529
126, 28U
1,019,376
-9,008
-3.932
-6.005
3,686
-12.985
-20.09lt
Month!
19U3-D«'cemher
UU,99U
19UU-Januar7
Vehruary
March
15U.3
.350
1U5.6
.622
UU.3
t'.3Ul
55.551
155.209
1U7,637
76,736
2.383
-713
1,831
6gU
April
May
June
I.U05
-5.U38
76U
1,038
1,151
-U7,329
-1,289
1,616
-7U7
July.
August
September
-36,215
17,U80
-9,953
-116,872
IO.53U
-57.289
October
November
Deoember
29.275
70,296
-5U.773
26,852
76,2U8
-229,521
119
650
2.313
U,911
-2,lUl
1.295
Back Figures
Tor monthly data for the period January 19U1
through June 19U2. see "Treasury Ballatin' for
Septeaber 19U3, page 73.
I
Ull
-6.082
22.268
U.525
2.Wt5
2«,U^
-2.061
-3.IJ9
179.U18
51,703
-7.36*
77,696
93,U96
5,859
-7,532
1.2U5
-2.123
26,572
76,013
3.851
16,569
.U27
-U72
-5.965
in
.
April
. .
.
75
1945
Money in Circulation
(Is mlllloni of dall«T>)
Paper money
of fiooal
year or month
biiS
Total
money In
circulation
1/
Total
paper money
Sold
certlfIcatei
surer
certlflIcatea
2/
1935
1936
1937
1938
1939
5.567
5,111*
6.21*1
5.755
5.92U
6.UU7
6,i»ei
Treasury
of
890
2/
117
101
701
955
1,078
1,230
88
78
72
federal
Baeerre
285
278
281
262
266
3.223
It. 002
i*,l69
U,l(«l*
26
21*8
5.163
22
6,68l*
9.310
20
19
13.71*7
581*
7.01*7
5.93"*
6,1*88
19'tO
7.8lt«
7.21*8
igui
igkz
19^)
191A
9.612
12,383
8,932
11,600
17.'t21
22,501*
16,1*92
21.1*38
51*
1.588
300
317
322
322
19UU-T*1>ru«i7.
20,821*
55
55
507
5t3
I.U5I*
1.582
I.71U
i''
63
59
1.75"*
1.6i*9
57
notes''
i*,lll*
597
17,1*29
620
613
128
127
321
17.852
18.395
18.750
608
603
597
127
126
126
18,951
19.527
20,017
590
587
582
125
125
125
325
20,631
21,200
57U
569
560
I2U
I2U
123
551*
123
122
•toy
21,552
22,160
20,513
21,105
5"*
5f
550
601
June
22,501*
21,1*38
5U
588
July
lu£uat
Soptamher.
22,699
23.292
23.79U
21,622
22,200
22,688
5't
1.578
1.582
1.586
322
Octoher...
SoTembar.
Deceahar. .
21*. 1*25
23.300
23.875
53
53
32I*
321
21,1*82
19'*5- January ...
25.290
25.750
316
320
21.533
21.963
7a^ruax7
p.
323
53
2l*,lltO
53
53
1.561
1.583
2't.593
32U
322
321*
1.592
I.60U
1,611
701*
366
269
217
186
17.176
iprll
2i*,151
2J
81
52
38
30
320
318
a, 115
25.019
25.307
— 2/—
18,750
March
.
National
hank
notes
165
150
139
132
126
19,806
20,086
53
53
federal
Beserre
Bank
notes
United
Statee
notes
550
Coin
Aid of fiscal
year or month
19351936.
1937.
1938.
1939.
191*0.
191*1.
Money in
circulation
per capita
(In dollars)
Subsidiary
sllTer
Standard
silver dollars
32
35
296
316
125
523
527
558
38
3'*1
III
1*9.
31*2
11*6
1*9.62
361
155
53-72
599
680
783
929
1,066
1*6
38U
169
59.1*7
i»33
191*
213
236
263
$
U3.66
1*8.60
88
72.16
91.88
103
50U
610
700
1,018
1,029
97
98
668
676
253
255
151.1*3
iprll.
May...
June.
1.039
1.055
1.066
100
102
103
682
693
700
257
260
263
I56.U5
160.72
163.07
July
Aufuet ....
September.
1.077
1.092
1.106
105
107
109
707
716
725
266
269
272
16U.3U
October.
BoTsmber.
Becenber.
1.125
l.iui
1,156
276
116
738
751
75«
176.39
180.52
182.19
1,150
1,157
117
118
751
756
282
283
191*2.
19U3.
191*1*.
19l*l*-rehniary.
March
191*5- January
Tebruary p.
II
81*
«e:
Circulation Statonente of United States Monc7 and Annual Rsport of
the Secretary of the Treasury for 191*3. pagss 710-713-
p
Brellffllnary.
Xxcludss (1) money held by the Treasury and (2) money held by or
Idfor the account of the federal ReserTe Banks and their agents.
Xj
eludes paper currency held outside the continental limits of the
280
282
127. 6U
163.07
153. '*2
168.119
171.98
181.95
185.11*
ttaltad States.
£/
}J
Gold certificates and Treasury notes of I89O in e Irculatlon are
being canceled and retired upon receipt by the Treasury.
federal Hessrrs Bank notes and Vatlonal bank notes are coverad by
deposits of lavful money and are In process of retirsnent.
Treas.
U.S
1
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