Full text of Treasury Bulletin : April 1958

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LIBRARY
RnoM 5030
JUN

2 3 1972

TREASURY DEPARTMENT

miEASURY.
MUILILEFm

APRIL- 1358

UNITED STRTES TRERSURV DEPRRTMENT
OFFICE OF

THE SECRETRRV

The Treasury Bulletin Is for sale by the
Superintendent of Documents,
U. 3. Government Printing Office, Washington 25, D. C.
Subscription per year $b.00 domestic, $7.50 foreign.
Single copy price varies.

Table of Contents
Page

Treasury financing operations

j^i

Summary of Federal fiscal operations

i

Budget receipts and expenditures

2

Trust account and other transactions

6

Cash Income and outgo

10

Account of the Treasurer of the United States

l6

Debt outstanding

Ig

Statutory debt limitation

21

Debt operations

22

United States savings bonds

34.

Ownership of Federal securities

jg

Treasury survey of ownership of Federal securities 'W
Market quotations on Treasury securities

4it-

Average yields of long-term bonds

1^7

Internal revenue collections

1\d

Monetary statistics

5I

Capital movements

55

Corporations and certain other business-type
activities - statements of financial condition
and loans by type

67

Cumulative table of contents

914.

Note:

Where calculations have been made from unrounded
figures, the details may not check to the totals
shown.

Treasury

Reporting Bases
The dally statement on the new basis was first Issued for

Data on reoelpta, expenditures, cmd debt whlob appear In the
"Treasury Bulletin' are baeed largely on two Treasury financial

February 17, 193^.

reports, the "Dally Statement of the United States Treasury" and

distinction Is made as to the type of accounts (budget, trust,

the "Monthly Statement of Reoelpte and Expenditures of the
United States Qovemoent. " Certain monetary statistics are baaed

etc.

cleared throu^ the aocount of the Treasurer of the United States.

at least In part on the "Circulation Statement of United States

Totta wlthdrawEds are on the basis of ohecks paid or cash dis-

Money."

Where these statemente are given

dividual tablee, they are cited by name only.

as

sources for In-

Their respective

reporting bases are described below.

For other data In the
Bulletin, Information on sources or reporting bases Is given In
oonneotlon with the tablee themselves.

).

In the depoelts and withdrawals as shown,

bursements made out of the Treasurer 'e account.
Some of the
withdrawal classifications showti are reported on the basle of

mailed reports of checks Issued and are adjueted by means of
clearing accounts to the total of checks paid.
Except for
relatively minor amounts, noncash Interfund and other intragovernmental traneaotlons are excluded.

The monthly statement of receipts and expenditures was first

published for February

195*^,

and replaced the dally statement as

the primary source of Information on budget results and other
receipt and expenditure data classified by type of account.
At the aame tine,

no

The deposits are on the baels of certificates of depoelt

The public debt figures

In the dally statement also are on a "clearance" basle, with the

exception of those leeuance and retirement traneaotlons reported
on the basle of telegrams from Federal Reserve Banke.
debt transactions are Included,

Noncash

however.

the dally statement was ohanged to a statement

of cash depoelts and withdrawals affecting the account of the
Treasurer of the United States. Both publications have provided
comparative figures on their respective bases from the beginning
of the fiscal year 1953* The announcement of February 17, 1954^,

with respect to these reporting ohangaa may be found In the
April l$^k Issue of the. Bulletin.

The dally statement before February I7. 1$5^, covered not
only traneaotlons cleared through the Treasurer's account but
also certain Oovernment agency transactions t^loh were hanoled.
through commercial bank accounts, and Included nonoaeh Interfund
and other Intragovernmental transactions. It provided Information
similar to that in the present dally statement with respect to the

status of the Treasurer's account,
The monthly statement shows all receipts and expenditures
of the Oovemment,

including thoee made from cash accounts held
outside the United States Treasury. The Information Is compiled
from reports by the Treaeurer of the United Statee and by all
other collecting and disbursing agencies. Including thoee agencies
which maintain checking aocounte in commercial banks. These
reports cover transactions recorded in the accounts of the
agencies during the reporting period. The net of the trans-

actions as compiled from these reports Is reconciled in the
monthly statement to ohanges In the balance In the Treaeurer *s
account and In cash held outelde the Treasurer's account and
changes In the public debt outstanding.

Receipts of taxee and ouatome duties are reported on a
collections basis. Other receipts are reported partially on a

present

and similar to that in the

tnd-of-month

dall/ statement with respect to debt
and amount outstanding.
Receipts and
expenditures, however, were claeslfled by type of account, euid
Issuance, retirement,

the budget results shown In the dally etatement were used as the
basis for reflecting the results under the Presldent'o budget
program as enacted by the Congress.

Receipts were on the basis of depoelte as they cleared the
Treasurer's account. Ejqsendltures cleared through the Treasurer's
account were reported on two successive bases. Through 19U6 they
were on the baels of checks paid by the Treasurer of the United
States.
Beginning with 19^7. expenditures made through the
facilities of the Treasury Department's Division of Disbursement
were on the basis of chocks Issued, while certain others, prin-

except Interest on the publlo debt, are reported on the basis of

cipally those of the Department of Defense and Ite predecessor
organizations, were on the basis of checks paid. Transactions
handled through commercial bank accounts, consisting of market

ohecks Issued or cash paymente made by disbursing officers.
Transactions of an Interfund or Intragovernmental nature are
Included on the same basis even though the aotufU. Issuance cf

transactions In public debt and guaranteed securities, were as
reported by the agencies.
Interest on the publlo debt was Included on a due and payable basle beginning with November I9U9

ohecks may not be Involved.

and on a checks-paid basle prior to that time.

oolleotlone basis and partially on a depoelts basis. Expenditures,

Intereet on the public debt Is In-

cluded on an accrual basis beginning with figures for June I955
and the fiscal year I955. Prior to that. It was Included on a
due and payable basis.

The same reporting basle as that In the

monthly statement provides the flecal year figures for the
Treasury's "Combined Statement of Receipts, Expenditures and
Balances of the United States Oovemment' and for actual receipts
and ej^ndlturea In the "Budget of the United States Oovernment."

The olroulatlon statement reflects traneaotlons through the
Treasurer's account which affect monetary stocks of gold and
silver and the amounts of coin and currency In the money supply
of the country.
It Is Issued later than the dally stateeent,
however, and the figures are baeed on transactions oonsuoaated

during the reporting period even though some may not have
cleared the Treasurer's aooount during that period.

BuUeth

April

ms
Treasury Financing Operations

April Cash Offering

collateralized In whole or in part by the notes sub-

An offering on April 7 fof cash subscription
of $3-1/2 bllilon, or thereabouts, of 2-5/8 percent

quired to be paid when subscriptions were entered.

4-year 10-month Treasury notes was announced by th«

Commercial banks were required to certify on all

Treasury Department on April

In addition,

scribed for,

to cover the 10 percent deposits re-

It

subscriptions entered for account of their customers

was stated that up to SlOO million might be allotted

that no such loans had been made; and that the banks

The subscription

had no beneficial interest in their customers' sub-

2.

to Government investment accounts.

books were open on April

7

only.

scriptions, and that the customers had no beneficial

interest in the banks' own subscriptions.
Allotments totaled $3,971 million, v»hlch Included

$100 million allotted to Government Investment ao-

The new notes are dated April I5, 195S, and bear

Subscriptions received totaled more than

Interest from that date at the rate of 2-5/S percent

counts.

$15.7 billion.

On subscriptions from the public,

those In excess of $25,000 were allotted 24 percent,

but not less than 325,000.

Subscriptions for

$25,000 or lees were allotted In full.

per annum payable on a semiannual basis on August I5,
195s,

and thereafter on February I5 and August I5

in each year until the principal amount becomes

payable at maturity on February 15, 1963.

The

notes were Issued in bearer form only, with interest

Commercial banks, which for this purpose are
defined as banks accepting demand deposits, were

coupons attached,

permitted to subscribe for their own account with-

$500,000,000.

$10,000,

in denominations of $1,000,

$100,000,

$5,000,

$1,000,000, $100,003,000,

and

out deposit, but were restricted to an amount not
exceeding 75 percent of the combined capital, surplus,

Any commercial bank qualified as a depositary was

Treasury 91-day Bills Reduced
New issues of weekly 91-day bills totaled $6.9
bllilon In March and weekly maturities totaled $7.0

permitted to make payment for notes allotted to

billion.

Itself and to Its customers by credit In Its Treasury

issues refunded equivalent maturities.

and undivided profits of the subscribing bank.

tax and loan account up to the amount for which It
was qualified In excess of existing deposits.
A

payment of 10 percent of the amount of the notes
applied for was required on all other subscriptions.

The first new Issue and the last two new

The first
was for $l.g billion and the last two were for
The second new Issue (dated
$1.7 billion each.

March I3), for $1.7 billion, refunded all but $0.1
billion of the maturity. Average rates of discount
on the new issues were 1.351 percent for March

Commercial banks and other lenders were request-

or loans

Details of Treasury narket financing operations are
ehovn elsevhere In this Issue of the "Treasury
Bulletin," In the tables on "Offerings," "Allot-

ments," and "Disposition," respectively,
of marketable
Issues of bonds, notes, and certificates of Indebtedness,
and in the table "Offerings of Treasury Bills."

ed to refrain from making unsecured loans,

Note;

6;

1.532 percent for March 13; 1.31^2 percent for
March 20; and l.lSS percent for March 27.

Apr

I

J

i958
SUMMARy OF FEDERAL FISCAL OFERATXONS
(In mlllloiiB of dollars)

elpts emd expeodlturei

Net of
taniat

Net
receipts
1/

Expenditures
2/

deficit
2/
C-)

account
and other
transact lone
2/ i/

Clearing in
public
etc. U/ debt, or
decrease
(-)

Levels, end of period

Net
Increase In

Debt outstaodli^

Treasurer's

Treasurer*!
account
balance, or
balazKse
decrease (-)

accomt

Total
Federal
securitlea

fiscal years:
19l»6

39,771
39,786
1H,U88
37,696
36,U95

6o,W.8
39,032
33,069
39,507
39,617

-20,676
75U
8,^19
-1,811
-3,122

-52U
-1,103

99

"•7,568

111*,

058

3,510

679
1^7

-1.01

''35

-250

67,772
61', 570

-3,117

1955

61,391
6U,a25
6U,655
60,390

65,lt08

1956
1957

68,165
71,029

66,5''0
69,''33

1,626
1,596

1958 (Est.)...

72,U00

72,788

-388

183

1959 (Eat.)...

7't,U00

73,93''

1*66

-560

19''6

38,568

-2,512

19''7

I9U8

'10,389
l»0,86U

19^*9

37,51'»

1950

37,306

Ul,o8o
37,955
35,623
Ul,106
37,728

-1,386
-350
-229
-502
311

1*7
19^8
19''9

1950

1951
1952
1953
195''

7'', 27''

-'',017
-9,ltU9
-li,l80

-29lt
-1.95

10,71.0

-10,1.60

ll.,238

269,1.22

-11,136

-10,930
1,62U

3,308

-5,991.

^78

-1,1.62

3,1.70

1.83

l',587

2,01.7

5,517

258,286
252,292
252,770
257,357

-211.

-2,135
3,883
6,966
5,189
3,115

1,839
-388
-2,299
2,096
-551

6,766
6,216

555
-507
366

328
231
522
-523

-1,623

'.,932

7,357
6,969
l.,670

269,898
258,376
252,366
252,798
257,377

255,222
259,105
266,071
271,260

255,251
259,151
266,123
271,31.1

27'., 37''

6,51.6

271. ,1.18
7I4

272,825

-2,221.

5,590

107

270,631.

673

6,000

271,200

116

271,316

6,000

271,200

107

271,307

3,502
3,097

259,1''9

Calendar years:

1951
1952

61.,8'.0

1953

63,81.1

195lt

1955

61,171
63,358

56,337
70,68e
?2,997
611, esu
66,129

1956
1957

70,99^
72,28U

67,216
71,692

52,979

2,U3l»
5,2l'l

-3,592
-1'22

-3 ,358
-5,81.2

-9,157
-3,683
-2,771

362

-18,966

-22,502

-21.0

199

-2,21.9
-l',100

1,111

231.

"•,331

l»71

l.,208
l.,679

87

-'23

-1*7

11,232

-106
-319
-209

2,711
7,973
7,777
3,582
2,019

6a

1,770

U,295
6,o6U

-1,1.88

'',577

603
-635

'',5^5

267

-l.,ll.l

-117

'',''27

1,092

-1,730

2,919

-2,369
2,019

107

-1,301.

21.9

110

1,022

21.8

-920

815
-Ul
101
739
-259

-31*

376

-1.05

259,1.87

256,900
252,800
257,130
256,708

256,981
252,851.

257,160
256,731

259, ''19
267,391
275,168
278,750
280,769

259,1.61
267,UJ.5
275 ,2W.
278,7814

276,628
27^,898

276,731
275,002

'',178

272,61.5

272,719

6,197

275,565

6,^5

2714,261

275,61.1.
27l.,3l.6

l.,70l.

1,731.

-1,71.1
1,071.

-389

-1,350

l.,1.27

275,283
277,017
276,628

5,180

l.,6o6

280,822

Months
1956 -July
August . .
September

3,''85

5,5''2

'',95''

5,902

6,218

'',918

-2,057
-9k&
1,300

HoTeniber
Dsceniber.

3,181'
11,818
5, Ilia

5,995
5,726
5,718

-2,812
-906
-307

1957-January .
February.
March....

'',809

6,095

-1,286

liOT

-1,162

3,265

6,188
10,737

5,71'3
5,581'

1.U6

-131

581'

3,81.9

5,153

163

3,82U

7,673

April....
May
June

1»,256

5,987
5,9W'
6,279

-1,731

21.7

5,292
11,688

-662
5,1.09

-325
-15

-3,290
-802
1,559

96
162

Ooto^r..

July

-105

-62

5,778

-2,1U2

5,532

271., 008

308

5,81.0

275,231.

103

275,337

-250

5,590

270,527

107

270,631.

253

1,91.2

-1,115
1.23

107
109

1U9

1,376
567

272,1.69
273,81.5

272,575

-21.7

2,1'36

271., 1.12

273,9514
2714,527

October...

3,131

-3,370
-979

-3''5

14,827

6,501
5,806
5,809

35''

November .
December .

1.15

11.7

-6011

679
151

6,011
5,528

-1.225
771

533

-3''3

3,505

I2H

l.,39U

'',786

6,299

-65

lU

-991
1,226

6,3''7

1958-January . ,
February .

276,335
276,378
275,108

J., 707

3,057
5,128
7,225

5,956

276,229
276,269
27'., 999

275,372
277,111
276,731

333
70
-938

August...
September

5,930
5,667

9I4

103

338

Source: Actual figures through the fiscal year 1952 and the calendar
year 1953 are fron the dally Treasury statement, and thereafter in
each case they are frcei the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page II); estimates are f1?om the 1959 Budget document, releaeed
January 13, I958, Including effects of iroposed legislation. More
detailed Information with respect to the figures on this page will
be found in succeeding tables.
1/ Gross receipts less transfers of tax receipts to certain trust funds
(see page 2), and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established under Section III4 (f) of the Economic Cooperation Act of 19*48
(62 Stat. 150), are consolidated with budget expenditures.
i/ Consists of transactions of trust and deposit funds. Investment by
Goverment agencies in public debt securities, and redemption or sale
of obligationa of Government agencies in the market; excess of receipts, or expenditures (-), For detail of content, see page 6.
For checks outstanding and telegraphic reporta from Federal Reeerve
I*/

-3,028
558
-259

'',307
14,865
11,606

271.,

271., 067

27'.,

27'., 71.7

27'., 850

27'., 898

275,002

2714,555
2714,679

27'4,656
2714,782

170

Banks beginning with 19'.7; public debt Interest accrued and unpaid
beginning with J«ie and the fiscal year 1955 (previously Included
fl'om November 19'.9 as interest checks and coupons outstanding);
also deposits in transit and changes in cash held outside the Treasury and in certain other accounts beginning with the fiscal year 195'..
Net Increase, or decrease (-).
For current month detail, see section on "Statutory Debt Limitation"
in each issue of the Bulletin. The limitations In effect during the
period covered by this table and the date when each became effective
are as follows: April 3, 19I.5, $300 billion; June 26, 191.6, $275
billion; August 28, 195I. $28l blUlon; July 1, 1956, $278 billion;
July 1, 1957, $275 billion; and February 26, 1958, $280 billion
(temporary Increase ending Jme 30, 1959). Guaranteed securities are
included under the limitation beginning April 3, 19I.5, Savings bonds
are Included at current redemption value beginning June 26, 191.6, and
at matinrlty value prior to that time. In the debt outstanding, savings
bonds are carried at current redemption value,
less than $500,000.
,

Treasury Bulletin
.BUDGET RECEIPTS AND EXPEJfDITURES

Table

1.-

Receipts by Principal Sources
(In millions of dollars

Income and profits taxes

Corporation
2/

Qnployiaent taxes

Total
Not
withheld

Income
and
profits

withheld
a/

1/1/
1950
1951

18,189
all ,218
32,826
33,012

1952
1953

For old-a^e
dleablllty In
surance
ajid

For unemployment
Insurance
6/

550
578
735

226

i/y

10,073
13,535
18,521
21,351

28,263
37,753
51*, 363

2,106
3,120
3,569
U,o86

21,635

51,3'»7

For railroad retirement

Total
employ ment jj

Estate
and gift
taxes 2/

8,303

2311

3,931

9, '•23

259
277

'•,562

620

'',983

9,726
10,825

6,220
7,296
7,581

945
936
1,171
1,378

WS"*
1955
1956
1957

21,523
18,265
21,299
21,531

10,7U7
10,396
11,322 2/
12,302

2U,012 2/
26,728

53,906
•9,915
56,633
60,560

6,337 2/
6,63U

600
63U
616

285
280
325
330

1956 (Est.)...

20,800

12,600

28,200

61,600

7,763

620

3l«2

8,725

1,500

11,192

1959 (Est.)...

20,815

12,900

29, It 00

63,115

625

350

8,963

1,585

11,633

51.1

269
128
1,823

l,0li7

1,857

3,678
2,163

Ii,l6l

919

366
1,003

6,290

'•86

5l^0

126
129
99

955
965
922

1,966
3,880

332

363

3, 'tis

8l^0

2,125

'•,751'

671
382

7'^0

352

1132

82l>

2,053
788

981

3,519

313

53

3,953

5,1''7

955

269

1957-Julj
August, . .,
September,
October. .
November.,
December .

1956-January .
February

.

.

355
2,30li

U29
367
2,277
U86
U06

1,333

7,165

••,537
5,3'^0

3I46

Deductions

bixtget

FOASI

Trust
Fund
11/

1,811.

•1,311
53,369
67,999

2,106
3,120
3,569

1,865

72,6149

It,

i.M9
62U
551
613

1,639

WSi^
1955
1956
1957

56a
606
705
75k

2,311
2,559
3,006

1959 (Est.)..

1957-July
August .
Septembe:

1958 -January.
February

1958 to date.

53'*

9,2U

I

I

385
1,302

>.

73,173

^om

budget receipts

Federal Disability Inaurence
Trust Fund
12/

Railroad
Retirement
Account

M

Refunds of receipts

M

550
575
738
620

086

•,537

1^/

Highway
Trust
Fund

2,135
2,082
2,275
3,095

603

2,107
2,302
3,118

3,31'5

3,377

3, too

3,^*26
3,681i

69, It 54

5,OltO

2,7'^9

78,820
83,675

6,337
6,301

333

616

1,^^79

3,325

87,132

6,900

863

620

2,120

It,

206

•,229

3,521

89,622

7,100

625

2,l61t

•,•22

It,ltlt5

358
150

3,73'^

308
815
•31

19

17't

137

138

8lt

219
207

123

12 It

135

137

183

118

193

October.
November
December

lO.OlU

10,0OU
10,638 10/

1,088

Transfera of tax receipts to

Total
receipts

1952
1953

1958 (Est.)..

5, '•25

18,6911

laneoua
receipt
1/

1950
1951

Taxes not
otherwiee
classified
2/

Excise
taxes

2/

6,U75
8,109

206
226

3,796
5,8U5

1*37

6,6u

26I.

5,2"^3

277

7,756

2,111

•7,570

2/

599
63 It

5I1

298
598
339

30
69
1.9

3,653

203
165

151
190

3,91't

Source: Actual figures through 1952 are from the dally Treasury statement and thereafter from the monthly statemnt of receipts and
expenditures of the Oovernment (for explanation of reporting baees
see page II); estimates are from the 1959 Budget document,
released
January 13, 1958, Including effects of proposed ^ -Islstlon.
1/ For further detail, see tables under "Internal Revenue Collections."
2/ BreaXdovn was not made In the dally Treasury statement and the
monthly statement for years prior to 195J+
i/ Beginning January I95I, the distribution of receipts between Individual Income taxes and old-age and disability insurance taxes la
made In accordance with provlnlons of Sec. 201 of the Social
Security Act, as amended (U2 U.S.C. ItOl), for transfer to the
Federal Old-Age and Survivors Insurance Trust TvDi (see footnote
ll),
ajid after December I956 also for transfer to the
Ftederal Disability

It

02

1,'^92

3,917

7^t

58
-26 16/
233

851

12

Insurance Trust Fund (see footnote 12).
It/
Taxes on employers and employees under the Federal Insurance Contributions Act, aa amended (26 U.S.C. 3101-3125), and, beginning with the
taxable year I95I, tax on self-employed Individuals under the SelfBnployment Contributions Act, as amended (26 U.S.C. Ilt01-llt03 )
The
Social Secxirity Act Amendments of I956, approved Ai«ust 1, 1956, Increased the ratet of tax applicable to wages paid and taxable yeara
beginning after December 31, I956, to provide for disability Insurar.ce ( see footnote 12 )
Taxes on carriers and their employees under the Railroad Retirement
Tax act, as amended (26 U.S.C. 3201-3233).
6/ Tax on employers of
or more vmder the Federal Unemployment Tax Act,
aa amended (26 U.S.C. 3301-3308); with respect to services performed
before January 1, I956, the tax was Inposed on employers of 8 or more.
Remaining footnotes on psge 5.
.

^

It

April 1958
BUDGET RECEIPTS AND EXFENDITUEES

Table 2.- Expenditures by Agencies
(In mllllonB of dollara)

Ezecutlve
Office
of the
Freoldent
1953

7U

195lt

67,772

5,782
5,282

1955
1956
1957

6lt,570

'»,38l

195S (Eat.)...

72,788 6/

116

'»,15''

1959 (Est.)...

73,93''

126

It,

,271*

66,5Uo
69,l'33

1957^uly

14,115

tratlon

Houalne
and HolDe
Finance
Agency

5,177
5,006

1,063
1,000
1,077
1,293
562

207

5,327

652

1*55

11,981

803

U9
58

385
-615
129 2/

6,905
6,lt73 1/

6,791
6,982 2/
7,707
ltii7

Agriculture
Department

3,217
2,91"^
11,636

170

8,272

ltl3

587
667

"tS

33

681
233

3U

573

38

'tis

52

6,501
5,8o6
5,809

327
301
299

981
712
668

37

58

573

32
32

63

lilt7

60
61

70

53

6,011
5,528

uue
272

700
670

36

5,930
5,667

October.
November.
December.
February.

y

Adinlnle-

It 00
272

1/

6,3'»7

August. ..
September

1958-Janiiary.

14,1.73

i/

General
Serrices

Funds
appropriated
to the
President

"•7,599 2/

2,631

8/

-127

It

263

257

1/2/

: :

.

,

,

Treasury Bulletin
-BUIXJET RECEIPTS AND KXPENDITUEES.

Table 3.- Expenditures by Functions, Fiscal Years 1954 to Date
(In millions of dollars)

Function
code

Tbroi^h
January

nxBober

Major national security ;
Direction and coordination of defense
Air Farce defense
Army defense
Naval defense
Other central defense activities
Development and control of atomic energy
Stockpiling and defense production expansion.
Mutual defense assistance:
Military assistance
Defense support l/

052
053
O5I1

055
056
057
058

12

13

lit

lit

15,668
12,910
11,293

16,U07
8,899
9,733

16,7119

18,363
9,063
10,398
602
1,990

lt52

l*8l

582

1.895
l,0lt5

1,857
9W>

1,651
588

It90

10,682
5,077
6,383
366
1,291
352

3,629
967

2,2ge
1,U63

2,611
1,18U

2,352

1,236

lt2,089

ltl,825

lilt,lillt

Total major national security
International affairs and finance:
Conduct of foreign affairs
Economic and technical development l/ 2/..
Foreign information and exchange activltle

Total international affairs and finance

.

8,702
9,7ltli

l,llt3

151

121

120

157

152
153

1198

It31

5I12

666

100

Ul

133

79

765

,

vices and benefits:
Veterans* education and training
Other veterans' readjustment Iwneflts kj
Veterans* compensation and pensions
Veterans* insurance and servicemen* s indemnities.
Veterans* hospitals aild medical^care
Other veterans* services and administration

5U6
158

661.

150

126

2,1(82

2,681

2,870

Total veterans*

1*,256

^

s

100
782
188

vices and benefits.

Labor and welfare
Labor and manpower
Public assistance
Fromotion of public health
Promotion of education 5/.
Promotion of science, research, libraries, and museums
Correctional and penal institutions,...
Other welfare services and administratl

^

211
212
213
21U
215
216
217

277
l,lt39

290
273

development of land and water , ,
development of forest resources,.
development of mineral reeourcse.
development of fish and wildlife.
of natural resotnrces
8tn*veys and administration
,

ItOO

237

1,558

351
279
56

I169

1,073
338
157
U7

llt7

121t

2,776

2,966

1,996

3,508
236

3,9116

3,511
227 8/
267
351
227

1,653
129
177

582 8/

2,87lt

20lt

231
217

286
177

305
215

i»,im

'',9X3

1,056
117
37
38
33
35

l.lOlt

51".

515
516
517
518
519
520
521

It,

162
62

Il20

1,296

365

61*7

783

llO

253
356
56
-115
270
-k<A
38

251

295
518

I163

2/
235
282

lt9

60

36
36

-60

251

59

76

Its

l,lt53

60
31

603

605
606
607
608
609
610

171

63

601
6oe
60li

7lt5

l'5

3''9

513

20

32

925
138
38

Total consnerce and housing

General govercoient
Legislative functions
Judicial functions
Kzecutive direction and maziageaent
Federal f Inane ial management
General property and recorde loanageBent
Central personnel management and employment costs
Civilian weather services
Protective services and alien control
Territories and possessions, and District of ColUBbla,
Other general govenmient
,

290
71

U5

Total natural resources
Comasrce and housing:
Prcmotion of water transportation
Provision of highways
Promotion of aviaticn
Postal service
Community developoent and facilities 10/ 11/,
Public housing programs 12/
Other aids to housing lo7~ii/
Other aids to business iiL/^
Regulation of coimnerce and finance
Civil defense
Disaster insurancv, loans, and relief 16/ , . ,

lt75

l,li57

2,552

150

05

100

31

21tlt

1*09

2,833

126

35I'

It

32lt

I189

793

53

256
217

1(03

328
1,U28
275

It,

28

351
352
353

llOl
li02

It, 756

33

Total agriculture and agricultural resources

Conservation and
Conservation and
Conservation and
Conservation and
Recreational use
General resource

1,782

It7

801
175

26
IU7

Total labor and welfare
Agriculture and agricultural resources:
Stabilization of farm prices and farm income 6/.
Financing farm ownership and operation 2/ j/
,
Financing rural electrification and telephones..
Conservation and development 2/
Research, and other agricultural services 2/

7711

155

3

76

It

16I>

'•75
16I1

115

33lt

627
38
187

25
157

3".

19lt

67

188
69

139

238

51

1,629

1,789

Total general government
(Continued en folloving page)

1,232

26

12

U9

2/

7lt

287
128

111
51
18

.

April /958
.BUDGET RECEIPTS AND EXPSaJDITUEES

Table 3.- Expenditures by Functions, Fiscal Years 1954 to Date - ((Continued)
(In

mlUlans of dollara)

Treasury Bulletin
.TRUST ACCOUBT AHD OTHKR TRAMSACTIOBS-

Table 1.- Summary of Trust Account and Other Transactions

April

mn
-TRUST ACCOUIfT AMD OTHER TRAHSACTIOHS

Table 3«- Trust and Deposit Fund Account Expenditures
(In millions of dollare; negative flgxarea are excess of credits)

Trust accounts, and trust enterprise funds (net)

Total
trust
accoxmts,
1950
1951

6,950 2/

1952
1953

I.,

3,9''5

952
5,169
6,769

195l»

1955
1956
1957

8,51.5
9, '•35

1958 (Eat.)..
1959 (Eat.)..

y
1/

6,851.
l>,139

301*

1,569

321
391
U65

National
Service Life

Fund

Fund

996
588
623

11*7

Ull

538

8U

1*30

87

507
591

11,1.87

9,197

5,551
6,723

1,965
1,393

1,010

6U3

620

271
300

611.

l,61tU

1,678

1,192
1,107

Life
Insurance

2,988

8,1.89

1,U6

Highway
Trust
Fund
2/

Government

1,01*9

1,71*5

15,235
16,321

Insureuice

2,026
900

3,1*05

15,196

Septembe]

78I.

Uhemploy
ment
Trust

2,067
2,750

12,71.3

16,361.

Railroad
Retirement
Account

5,298
5,698
7,327

12,959

1957-July....
August .

i/

Federal
Federal Old -Age
Disability
and Survivors
Insurance
Insurance Trust
Trust Fund
Fund

556
562

363

966

1,870
2,1*93

61.2

October.
November
December

1,387
96U
1,U02

1,17'.

656

1,191

6I.9

11*5

1,'»36

651

233

1958-January
February

1,651
1,317

1,1.87

31*1*

1,1*92

331

136

161
207

Treasury Bulletin
.

TEUST ACCOUNT AMD OTHER TEAMSACTIONS

.

Table 4.- Net InvcBtment by Government Agencies In Public Debt Securltlee
(In mllllona of dollars; negative figures are excess of salee)

April

ms
TPUST ACCOUNT AND OTHER TRANSACTIONS.

Table 5.- Net Redemption or Sale of Obligations of Government Agencies in the Market
{In millions of dollara; negative figuree IrKtlcate net aalee)

Securltlea guaranteed by the United Statee
Public enterprise fxmda

Total
guaranteed

1950
1951
1952
1953
195^*

-602 1/
-173

1955
1956
1957

1,085

1958 (Eet.)...
1959 (Est.)...

1957-JuU
Auguat . .
September
October.
November
December
1958-January .
February.

Connnodity

Credit
Corporatlo

Federal
Farm
Mortgage
Corporatlo

Federal
Housing
Admlnlatratlon

Home
Owners'
Loan
Corporatlo

Treasury Bulletin
.CASH INCOME PSD OUTGO.

The cash income and outgo data
"Treaeury Bulletin," beginning with
Issue, are on a basis consistent with
payments to the public as derived In

representing cash received from the public. Federal cash
borrowing from the public includes net borrowing by the

appearing in the
the February 195^

the 1957 and subsequent Budgets of the United States, Special Analysis A.

Treasury through public debt transactions and also net
borrowing by Government agencies and Government-sponsored
enterprises through sales of their own securities.

Reconciliation to cash deposits and withdrawals In the

It excludes changes in the public debt which do not rep-

account of the Treasurer of the United States is shown on

resent direct cash borrowing from the public.

receipts froa and

shown the amount of net cash borrowing from, or repayment of

The net
effect of all these transactions with the public is
reflected in changes in the balance in the Treasurer's

borrowing to, the public.

account and In cash held outside the Treasury.

the same basis as In the Budget documents.

There Is also

By these arrangements,

data In

accordance with the Budget classifications are made avail-

able month by month.

Cash transactions through the Treasurer's account are

Figures for back years have been

revised where necessary In order to make them as nearly

siiT.llar

in general concept to those included in the Budget

comparable with the Budget classifications as available
data will permit. For this reason certain of the figures
differ somewhat from those published In earlier Budget
documents as well as In the Bulletin.

series,

but are limited In coverage to transactions whiah

affect the balance in that account.

On the other hand,

they include receipts from the exercise of monetary
'

authority, which are excluded from receipts from the public

in the Budget series.

The Budget series of cash transactions Is designed
to provide Information on the flow of money between the

public and the Federal Government as a whole, and therefore

Includes transactions not cleared through the Treasurer's
account.

Receipts and payments Include transactions both

Beginning with figures for the fiscal year 1953, the
series of transactions with the public is based on the

"Monthly Statement of Receipts and Expenditures of the
United States Government," which is compiled from reports

Operations of Goverrnient-sponsored enterprises are Included

by all collecting and disbursing officers and includes
those transactions not cleared through the Treasurer's

in budget accounts and in trust and deposit fund accounts.

Cash deposits and withdrawals in the Treasurer's

In payments on a net basis as reflected In Treasury reports.

account.

Major intragovemmental transactions which are reported as

account, beginning with the figures for the same year, are

both expenditures and receipts are eliminated from both.
Noncash items which represent accrued obligations of the
Government to make payments In the future are also eliminated

reported in daily Treasury statements.

from expenditures but are added later when actual payments
are mace.

Receipts from the exercise of monetary authority

(mostly seigniorage on silver)

are

excluded

as

not

For those years

prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of dally Treasury

statements which reported separate classifications for
trust account transactions, etc.

budget results,

April

ms
.

CASH INCCME AND OUTGO

Table 1.- Summary of Federal Government Cash Transactions with the Public
(In mlllione of dollars]

Net cash transactions with the public
other than borrowing
Federal receipts from
the public
1950
1951
1952
1953
195^

Federal payments to the
public

It0,9lt0

1'3,1'>7

53,390
68,013

67,96lt

71,1«99

•5,797

Plus
Net cash
borrowing from
the public, or
repayment (-)
*

EzcesB of
receipts, or
payments (-)
-2,207
7,593
U9

Plus: Receipts from

ficiuals:

Change In cash balances

Treasurer's account
balance , increase
or decrease (-)

Cash held outside
Treasury, increase,
or decrease ( -)

l.,229

2,01.7

-5,796
-505
2,919
2,512

1,839
-388
-2,299
2,096

257

1,809
-U,366
-3,100

-551

-312

76,773
71,860

-5,27't

67,836
77,088
82,107r

70,538
72,617

-2,702

1958 (Sat.)....
1959 (Est.)....

85,1X3
87,286

eu,938
86,662

196
-679

1.10

621.

1957-July
August....
September

3,801
6,786
8,066

7,160
7,185
6,75U

-3,359
-399
1,311

2,373
776
l.OlU

-1,115

131

1.23

J.O
-106

October...
Norember .
December.

3,896
6,075

7,501
6,219
7,119

-3,605
-Ikli

500
665

6,1.33

-686

383

-3,028
558
-259

1958-January...
February..

5,37't

6,377

7,759

6,7'tO

-1,003
1,020

-36
-107

lt8,190

55,051*

-6,861.

,

71,627

1955
1956
1957

,

,

1958 to date.

-232
li,l>71

2,099
175

Source: Actual figures through 1952 are based on the daily Treasury
statement and thereafter thi9y are baeed in pert also on the ninthly
statement of receipts and expenditures of the Government (for ex-

5,568

331
-956

2,1.36

-72
-33

-1,101

37

-1,196

-63

planation of reporting bases, eee page II]; estimates are baeed on
the 1959 Budget docimient, released January 13, 1958, including effects
of proposed legislation.
Revleed.

Table 2.- Summary of Cash Transactions through the Account of the Treasurer
of the United States
(In millions of dollars)

Treasury Bulleiin
CASE INCOME AND OUTGO

Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to
Cash Deposits In the Account of the Treasurer of the United States
(In millions of dollare)

April i958

.

CASE INCOME AND OUTGO

Table 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments
(In mllllona of dollare)

Treasury Bulletin

ll;

CASH INCOME AMD OUiXjO

Table 7.- Derivation of Federal Government Net Cash Debt Transactione with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Net borrowing, or repayment of borrowing (-);

in mllllona of dollare)

Change In public debt and agency obligations held by the public

Public debt
Increase, or
decreaae (-)

Plus: Net sale of obligations
of GoTerninent enterprises In
the market

Public and
trust enterprise funds

Governmentaponaored
enterprises

Less: Net Investment in Federal
securities by GovemiQent agencies

Truat funds

Public
enterprls

Eq uala

Government
sponsored
enterprises

l»,870

-liOS

1950
1951
1952
1953
195^

37ii

-^,135
3,883
6,966
5,189

101
79
-77

269
872

1,236
2,516 2/
2,262

126
101
36

316
U50

l,5't6

33

11

3,115
-1,623

1955
1956
1957

3,369
3,355
3,068
1,686 1/

-186

-2 ,i2k

1958 (Eat.)...
1959 (Est.)...

673

1957-July
Auguat . .
September

l,9lt2

October.
November
December.

.3U5

679
151

186

1958-January
February.

-3U3

225

.

-5,308
175
3,6liO
UI.6

171
5U9
1.1

1/

3,130
a,lt5U

-3,7U3
-3,392
-1.2

907
-319
685
-298

1,376
567

:

Increase In
securities
held by the
public, or
decreaae {-)

2,373
816
9U5
-5
-7

-559
163

U67
652
U21.

U22

-18

13".

-159

April

ms

15

.CASH INCOME AND OUTGO.

Footnotes to Table 3
1/

2/

^

Consists of seigniorage on silver and Increment resulting from reduction in the weight of the gold dollar; excluded from receipts from
the public but included In cash deposits in the Treaaurer'a account.
Leas than $^00,000.
Revised.

Tar further detail, aee "Budget Receipts and Expendlturea," Table 1,
7or further detail, see "Truat Account and Other Tranaactione," Table 2.
Treated ao noncash refund deductlona frcm receipts when issued and
as cash refund deductions when redeemed.

Footnotes to Table 4
experxilturea for operations are shown in this table In terms of the
combined net of disinvestment In Federal securities and sale of agency
obligations In the market, and net recelpta from operations are shown
In terms of the combined net of investment In Federal eecurltlee and
redemption of agency obligations in the market.
Not reported prior to 195**.
Consists of only those market transactions not cleared through the

For further detail, see "Budget Receipts and Expenditures," Table 2.
For fin-ther detail, see "Trust Account and Other Transactions," Tables 3,
U, and 5.
Includes net change in balances in Government -sponsored
enterprise deposit fund accounts with the Treasurer of the United States.
Net operating expenditures, or receipts (-), as measured by funds provided
by or applied to net security transactions reflected in Treasury reports
(see Table 7). To a large extent, these Govemment-sponaored enterprises
secure funds for their operations by direct borrowing from the public or
by cashing Federal securities which they hold, and they apply the
net income received from operations to repayment of borrowing from the
public or to Investment in Federal securltlea. On that basis, net

Treasurer's account.
See Table 7, footnote 1.
Does not Inclirie revolving fund receipts representing acquired
securities amounting to $1,61*3,070 (par value).
Revised.

Footnotes to Table 5
by truat fuods ana Government-sponsored enterprises. Beginning
with fiscal year I95B excludes deductions from salaries of District
of Columbia employees (see footnote 6).
Consists of payments to employeee* retirement funds representing
United Statea and Government corporation eharee of contributions;
payments to the Railroad Retirement Account (for creditable military
service), the imemployment Trust Fvmd, veterans* life Insurance funds,
Judicial Survivora Annuity Fund, truat fund for technical services
and other aeslatance under the agricultural conservation program, and
Dlatrlct of Columbia; and awards of Indian Claims Coinnlssion.
Includes payn^nt by District of Columbia to the Civil Services retirement fund for its ehare of contributions, and beginning with 1958
also aeductlona from its pi^yroll; payment by Railroad Retirement Board
to Federal Old-Age and Survivors Insurance Trust Fund; transfers
from Civil Service retirement fund to Foreign Service retirement fund
except 1958 actual expenditures; and tranefere from Railroad Ifriemployraent Insurance Administration Fund to Unemployment Truat Fund through

Federal intermediate credit bank franchise tax through December 19^6
and^ beginning 19^3, also reimbursement by Panama Canal Company for
•zpenaea and errlces.
Includes reimbursement by Federal Old-Age and Survivors Insurance
Truat Fund and Federal Disability Insurance Trust Fund for administrative expenses and also for refunds of taxes (treated aa an
offset to refunds rather than being credited to recelpta) beginning
with 1953 for the former and 1959 for the latter; relaburaement
by Highway Trust Fund for refunds of taxes; reimbursement by the
District of Columbia; payment of dividends, interest, etc., by
Federal National Mortgage Association's secondary market operations;
and Federal Intermediate credit bank franchise tax and repayment of
capital etock to the Treasury after December 1956 and before
January 1959.
Consists of payment of earnings and repayaeat of capital stock to
the Treasury through 1952; aad paymemt of franchise tax by basks
for cooperative! beginning 1955, awl by Federal intermediate
credit banks beginning January 1959
Includes relatively small amounts of deductlona from aalaries paid

1955.

Less than $500,000.
Revised.

Footnotes to Table 6
Accrued discount on eavinge bonds and bills less interest paid on
savings bonds snd bills rsdeemed.
Public debt interest due and accrued beginning June 30, 1955, effective
date of the change In accounting and reporting from a due and payable
basis to an accrual basis; for 195^, consists only of public debt
interest checks and coupons outstanding; net increase, or decrease
(-). Not reported as a separate clearing account prior to 195^Treated as noncash expenditures at ths time of Issuance of th*
securities anl as caah expenditures at the time of their redemption;
net issuance, or redemption (-).
Issuwl in 1936 In exchange for adjusted service certificates held by
veterans of World War 1. The bonds matured In 19l*5.
laeued In 19^7 in payment for accumulated leave. The last of these
bonds matured In 1951*

6/

2/

8/

•

Part of the United Statee subscription to the capital of the International Bank for Reconstruction and Developoent and to the International Monetary Fund was paid in the form of noninterest-bearing
nonnegotlable notes payable on demand (see 19^7 Annual Report of
the Secretary of the Treasury, pages U8, 350, and 385). The last
of the notes Issued to the Bank was redeemed In 1950.
By wholly owned Government enterprises; beginning 1951, such net
Investments are reported separately and are not included In expenditures (sec "Trust Accoimt and Other Transactions," Table l*),
Checks outstanding less deposits in trsnslt, and changea In other
accounta; net Increase, or decrease (-). Prior to 195^ Includes
also public debt interest due and unpaid (see footnote 2).
I«ee than $500,000.

Footnotes to Table 7
In this table, beginning 195U, In accordance with treatment in Budget
documents, net investment in United Statea securities by Governmentsponsored enterprises includes a small amount by other enterprises
regarded aa representing net transactions with the public. In Table k
under "Trust Account and Other Tranaactione," these amounts are Included in trust and deposit fund account investment.
Does not Include Investments representing acquired securities amounting
to $1,6^3,070 (par value) and donation of securities amounting to
$1*5,800 (par value).
Accrued discount on savings bonds and bills, which Is Included In ths

kj

^
6/
2/

principal of the public debt, less interest paid on savings bonds and
bills redeemed.
Treated as noncash tranaactlons at the time of Issuance and as cesh
transactions at the time of redemption; net issuance, or redemption
Excluded from borrowing because the transections are treated as expenditures in Table 6.
Excluded from borrowing because the transactions are treated as deductions from receipts In Table 3.
Market transactions in public debt securities and agency obligations.
Less than $500,000.

Treasury Bulletin

16

.

ACCOUHT OF THE TREASURER OF THE UNITED STATES

,

Source and Availability of the Balance In the Treasurer's Account
The account of the Treasurer of the United States
reflects not only budget receipts and expenditures but
also trust, deposit fund, and public debt transactions.
The working cash of the Treasury Is held mainly in
Treasurer's accounts with Federal Reserve Banks and
branches.

account to the tax and loan account In the same bank. On
occasions, to the extent authorized by the Treasury,
banks are permitted to deposit In these accounts proceeds
from subscriptions to public debt securities entered for
their own account as well as for the account of their

customers.

As the balances In these accounts become de-

pleted, they are restored by calling In (transferring)
funds from the tax and loan accounts with thousands of

commercial banks throughout the country.

Deposits to tax and loan accounts occur In the
normal course of business under a uniform procedure

The tax and loan account system permits the Treasury
to leave funds In banks and In the communities In which

they arise until such time as the Treasury needs the funds
In this way the Treasury Is able
for Its operations.
to neutralize the effect of Its fluctuating operations
on bank reserves and the economy.

applicable to all banks whereby customers of banks deposit

with them tax payments and funds for the purchase of

Government securities.
In most cases the transaction
Involves merely the transfer of money from a customer's

Table

1.-

A detailed description of the Treasury's depositary
system may be found In the Annual Report of the Secretsiry
of the Treasury for 1955,

pages 275-28'+.

Status of the Accoun-t of the Treasurer of the United States
(m

mllllona of dollars)

April 1958

17

,

ACCOUHT OF THE TREASURER OF THE UNITHD STATES

,

Table 2.- Analysis of Changes in Tax and Loan Account Balances
(In mllllone of dollars)

During period

Proceeda from sales of securities l/
Withdrawals
Withheld
and
excise 2/

Tax
ant Icl patio
securities

1950
1951
1952

3,755
3,390
2,226
2,667

1953
195^

3,'»57

k,WA

1955
1956
1957

3,810
2,976

1957-JuU
August.

a,l»51

287

2,231
2,333

5,2''3

5,01.1
U,30l.

6,861
5,977
6,035
5,01.3

7,267
10,331
13,579
15,859
19,898

6,971
13,270
10,227
".,791

16,877
2U,128
36,1.93
1.1,267
l.l,6UU

15,380
21,716
37,066
1.3,303

39,879

8,167
786
6,568

20,538

1,21.7

l.,552

3,002
2,862

U,910

l.,Ull

3,265

2li6

23 ,897

26,709

2,967
U,6ll
.,152

1.2,071.

1.2,51.5

39,11.0

38,871

1.5,1.1.8

1*6,000

5,801

3,71.1

830
1,1.31

5,1.09

1,1.25

2,609
3,208
3,255

8,776

950

l.,212

7,1.93

1,61.9

3,870

7,299
5,1.86

1,910
1,103

3,991
3,373

6,078

613

2,987

2,833
3,331
5,818

6,291.

3,920
5,886

2,833
1,078
1,353

2,331
3,555
2,212
2,779

l.,365
l.,633

1,693
2,692

October ...
Sorember..
December.

20e
195
223

1,33'.

1,222

5.751
2,759

1,030
5U8

2,821.

11,01.9

3,037

2,572
3,583

2,762

3,533

l.,033

3,081.

5,755
3,583
3,589

2,286
1,638
1,710

1,168
3,161

1,501
3,1.55

2,818
2,385

1,767
2,837

3,005
2,925

1,103
1,138

..

333

258

36

Office of Fiscal Asalstant Secretary ; figures are on basis of
telegraphic reports
Special depositaries are permitted to make payment In the form of
a deposit credit for the purchase price of United States Government
obligations purchased by them for their own account, or for the
account of their customers who enter aubscrlptlons through them,
when this method of payment la permitted under the terms of the
circulars Inviting subscriptions to the Issues.
Taxes eligible for credit consist of those deposited by taxpayers
In the depositary banks, ae follows: Withheld Income tax beginning

6,001.

Average

6,293

3,268
5,680
5,106
3,071
I*, 836

215
197

Source;

2/

"•,679

Low

Septeml>er.

1958 -January, .
February .

1/

5,831.

3, ''37

End of
period

Income (b;
special
arrangement) i/

l.,306

2,8311

March I9I.8; taxes on employers and employees under the Federal
Insurance Contributions Act beglnnlr^ January 1950, end under the
Railroad Retirement Tax Act beginning Julv 1951; and a number
of excise taxes beginning July 1953.
Under a special procedure begun in March 1951, authorization may
be given for Income tax payments, or a portion of them, made by
checks of $10,000 or more drawn on a special depositary bank to
be credited to the tax and loan account in that bank. This
procedure is followed during some of the quarterly periods of
heavy tax payments

,.
.

)

.

Treasury Bulletin
.KEHT OUrSTANDHH.

Table

1.

Sunmttry of Federal Securities
(In mllllone of dollars)

fiscal
year or

teed
securltlea 2/

Total 1/

1952
1953

257,377
255,251
259,151
266,123

257,357
255,222
259,105
266,071

195''

271,3'tl

271,260

1955
1956
1957

27U,Ul8
272,825

27lt,37l'

1950
1951

270,6311

272,751
270,527

1956 -December .

276,731

276,628

1957^ulj
. .

272,575
273, 95"*

September

27't,527

272,1169
273,81i5
27ll,U12

October. .
November .
December.

27U,170

2711,067

27'>,850

27't,7li7

275,002

2711,898

2711,656

27'', 555

782

2711,679

Augxist.

1958 -January...

February

Guaranteed
eecurltlea 2/

G-uaran^

montta

.

27'',

Matured debt and debt bearing

Intereat-bearlng debt

Total outetandlDg

20

107
109
115

Public debt

y
2,150
2,372

Total
2,1U8
2,370

265
512

1,270
1,283

255,226
252,879
256,907
263,997

255,209
252,852
256,863

268,990
271,785
269,956
268,592

268,910

2711,322

2711,219

270,700
272,126
272,802

270,595
272,018
272,688

272,508
273,235
272,977

272,li06
272,87''

1,662
1,616
2,025

272,877
273,061

272,777
272,959

1,778
1,721

1,777
1,720

17

263,9116

Source: Dally Treasury statement.
1/ Includes certain obll^atlone not subject to statutory limitation.
For amounts subject to limitation, see pe^e 1.
2/ Excludes guaranteed securities held by the Treasury,
i/ Conslete of PBA debentures beginning March 1953
hj Special notes of the liilted States Issiied to the International
Monetary Fund In payment of part of the United States eubacrlptlo

2,2l*lt

2,2li2

I1I9

1,27''

2,125

298

i,3oe

2,351

1137

I13

2,6311

269,883
26e,U86

73

2,869

2,350
2,633
2,868

106

2,0li2

2,01l2

2,1' 09

2,li08

1,875
1,828
1,725

1,8711

I172

1,828
1,72U

1179

273,132

y

2,126

271,71*1

106
108

Monetary
Fund

Matured

589
666
529

Other

Guaranteed
aecuritles 2/
( matured

613
575
550
525

l,liU
1,567

502

l,7''2

I160

I177

I151

Wi2
1*39

''57

960
910
829

1,661
1,615

W.5

780

1*36

''25

7511

'*36

2,0e''

8I1I

7116

1*37

609

733

'*35

562

725

'*33

'138

The
p\irsuant to provisions of the Bretton Woods Agreements Act.
notes bear no Interest, are nonnegotiable, and are payable on
demand.
Includes savings stamps, exceee profits tax refund bonds, and
currency Items. For current month detail, see "Statiitory Debt
Limitation," Table 2.

April

ms

19

.DEBT OUrSTANDHG.

Table 3.- Special Issues to United States Government Investment Accounts
(In mllllone of dollare)

-

Treasury Bulletin
.DEHT OOTSTAUDDG-

Table 5.- Treasury Holdings of Securities Issued by Government
Ck)rporatlons and Other Agencies i/
(In

Bid of
flBCal
year or
month

1950
1951
1952
1953

CoDsnodlty

Credit
Corporation

8,1.23

RxportImport
Bank of
Waahlngto
2/

195lt

12,125
12,869

1955
1956
1957

16,175
20,OU9
22,731

7,606
11,190
13,383

1,310
1,239
1,205

9,027
9,561i

1.

I,0li0

1,088
1,227
1,3''7

1,5U9
2,038
2,hkb
2,233
1,966
1,95"'

l.T".!

1956-Doc.,

21,027

1957-July,

21,039
21,173
21,579

11,U68
11,568
11,837

1,201
1,201
1,201

1,81.1

21,561
21,932
22,011

12,166
12,UU0
12,786

l,l»60

1,090

Dec

1,U9U
1,508

1958 -Jan.,

22,01i6

Feb.,

22,182

12,767
12,866

1,506
1,537

Aug.,
Sept,

Oct.,
»07.,

mlUlone of dollare)

International Public
Housing
Coo pe ratio]
AdminisAdjnlnletra
tration
tlon

^

96U
1,097
1,150
1,189
1,203

96i.

3,193
2,555
1,970
3,612
It, 180

,

Federal Housing
National and Home
Mortgagi Finance
Aaoocla' Admlnletlon i/ trator

130
165
282

1,281
1,527
1,731
1,933
2,091

1,1.56
271.

655
655
215

197

Secretary of
Agrlcxilture

program

107
178

270
367
U9I
58U

2,31.3

Under
Defense
Other
Production 2/
Act of
1950 8/
'

158
395
kl6

1,002
l.lUit

1,29^

2,519
2,1*25

219

2,591.
2,591.
2,591.

285

331.

1,198
1,197
1,197

335
350
383

1,196
1,196
1,192

2,669
2,669
2,625

309
309

Veterans'
direct

65

78
117

1,2*

2,163

Tennessee
Valley
Authority

1/

2,207

1,209
1,213

1,296
1,32U
1,372
1,U22
1,1*20
l,i*19

2,700
2,700

387

Source: Dally Treasury statement.
1/ The securities shown In this table were Issued to the Treasury to
finance Government corporations and other agencies with the Treasury
Itself raising the necessary funds through public debt operations.
To avoid duplication, these securities are not lncl\»ied in the
guaranteed debt outstanding as shown In preceding tables.
2/ Excludes securities Issued under Defense Production Act.
i/ From September 1950 through July 1951*, consists of notes of the
Housing and Home Finance Administrator, Issued to borrow for the
Association. Beginning August I95I., consists of liabilities taken
over by the Association from the Administrator In accordance with the
act approved Ai^ust 2, 1951+ and notes Issued by the Association
under authority of that act (12 U.S.C. 1720, 1723 (4))i and beginning
September 1951., also securities transferred from the Reconstruction
Finance Corporation (e«e footnote 6). Prior to September 1950, the
Association was financed from funds of the Reconstruction Finance
Corporation, which owned the capital stock.
k/ Consists of notes Issued to borrow for the urban renewal program
(formerly slum clearance program); the prefabricated housing loans
program from September 1950, when It was transferred from the Reconstruction Finance Corporation, through November 1951.; college housing
loans beginning July 1951; and public facility loans beginning
January 1956. Notes Issued to borrow for the Federal National Mortgage Association from September 1950 through July 1951. are shown
under the Association.
Established In the Department of State by Executive Order No. IO61O,
dated May 9, 1955, and effective at the close of business June 30,
Data
1955, as successor to the Foreign Operations Administration.
Beginning
for earlier periods are for predecessor agencies.
September 1956, figures exclude notes previously issued by the Administrator in connection with Informational media guaranties. The
obligation of these notes was assumed by the Director of the tfclted

States Information AgeiKj, pursuant to the act approved July I6, I956
and the notes together with others Issued for the
(22 U.S.C. lUh2)
Bane purpose are Included In "Other."
Excludes securities Issued under Defense Production Act of 1950; Includes securities Issued under Federal Civil Defense Act of 1950
through November 1953, after which they were taken over by the
Secretary of the Treasury, pursuant to the act approved July 30, 1953
See also footnote 3(15 U.S.C. 609), and are Included under "Other."
During September 195^, under Reorganization Plan No. 2 of 195^, the remaining securities Issued by the Corporation to the Treasury were transferred as follows: $U2 million to Export-Import Bank of Washington,
$92 million to Federal National Mortgage Association, and $H million
to Small Business Administration.
For Farmers* Home Administration program.
Consists of notes of the Administrator, General Services Administration,
beginning January 1951 (Adjoinlstrator, Defense Materials I^ocurement
Agency, January 1952 through July 1953) for defense materials procurement; Reconstruction Finance Corporation, January 1951 through September
1953 (after which Its activities under this act were transferred to the
Secretary of the Treasury), and the Secretary of the Treasury beginning
October 1953; the Secretary of the Interior (Defense Minerals Exploration Administration) beginning June 1951; the Export -Import Bank of
Washington beginning April 1952; and the Secretary of Agriculture
beginning Jxme 195**.
Consists of notes issued by Secretary of the Army (Natural Fibers
Revolving Fund), 1950-51; Secretary of the Treasury beginning December
1953 (see footnote 6); Small Business Administration beginning
September I95U; and for informational media guaranties by the United
States Information Agency beginning September 195^ (see footnote 5);
also revenue bonds Issued by Saint Lawrence Seaway Development Corporation, beginning November 195^.
,

6/

,

^

Rural
Reconstruction Electrl
flcatlon
Finance
AdminisCorpora,
tration
tlon 6/

7/
8/

2/

April

ms
STATUrOEY DEBT LIMITATION

The Second Liberty Bond Act, ae amended

under authority of that act, and the face amount of

by acts approved August 2g, 195^. and June 30, 1955;
by S3 billion beginning on July 1, 1956, and ending on
June 30, 1957, by an act approved July 9, I956; and by

obligations guaranteed as to principal and Interest by
the United States (except guaranteed obligations held by
the Secretary of the Treasury), shall not exceed In the

l5 billion beginning on February 26, I95S, and ending on
June 30, 1959» by an act approved February 26, 195S.
Obligations issued on a discount battle, and subject to

aggregate 5275 billion outstanding at any one time,

redemption prior to maturity at the option of the owner,
are Included in the statutory debt limitation at current

(

31 U.9.C.

757 b), provides that the face amount of obligations Issued

except that this amount was increased by |6 billion beginning on August 2g, 195**-! ar^cl ending on June 30, I956,

redemption values.

Table 1.- Status under Limitation, February 28, 1068
(In millions of dollara)

Maximum amount of securities which may be outstanding at any one tine, under limitation Inpoeed hy the act
of June 26, 19U6 (3I U.S.C. 757 b), ae Increased temporarily by the act of February 26, 1958

280 000

Amount of securities outstanding subject to such statutory debt limitation:
U. S.

GoTemment securities Issued under the Second Liberty Bond Act, as amended

27U 2kk

Guaranteed secxirltlee (excluding those held by the Treasury)

I03

Total amount of securities outstanding subject to statutory debt limitation

^7^,3'^6

5 ^6^

Balance Issuable under limitation

Source:

Dally Treasury statement.

Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding February 28, 1058
(in millions of dollars)

Subject to
statutory debt
limitation
Public debt:
Interest-bearing securities:
Marketable
Treasury bills
Certificates of Indebtednes
Treasury notes
Treasury bonds
Panama Canal beads .•...•...

Total marketable
Nonmarke table
U. S. savings bonds (current redemption value)
Depositary bonds
Treasury bonds. Investment series

Total nonmorketable
Special issues to Govenanent agencies and trust funds.

Total interest-bearing securities
Matured securities on which interest has ceased
Debt bearing no Interest:
United States savings stamps
Excess profits tax refund bonds
Special notes of the Ublted States, International Monetary Fxnd Series.
tkilted States notea (less gold reserve)
Deposits for retirement of national bank and federal Beserve Bank notes
Other debt bearing no interest

Total debt bearing no interest.
Total public debt

Guaranteed securities:
Interest-bearing
Matured

l/

Total guaranteed aecurltles

Total public debt and guaranteed securities

26,127
20,U83
86,31*8

Not subject to
statutory debt
limitation

Total
outstanding

Treasury Bulletin
.DEBT OPERATIONS.

Table

I.

Maturity Schedule of Intereet-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding February 28, 1958

April

ms

23

.DEBT OPERATIONS.

Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding February 28, 1958 - (Ckintinued)

)

Treasury Bulletin

2l^

.VEBI OPERATIONS.

Table 2.- Offerings of Treasury Bills
(

Dollar amoun'ta In mlUlonfi

April

ms

25

.DEBT OPERATIONS.

Table 3.- Summary of New Money Financing through Treasury Bills
(Dollar aaounte In mllllona)

Desorlptlon of Issue

Haturltj
date

26

Treasury Bulletin
.DEBT OFERATIOHS.

Table 4.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Aaou]it Issued

Amount of
Buliacrlptioae

Deecrlptlon of security

tendered
Cash i/

Exchange

For
cash 1/

(Tn mllll(

2/15/53
2/15/53
k/l/SS

2-lA#

Certificate
2-l^j( Bond
l-l/2)t Bote

-

2/15/51.-*

12/15/58 i/

3-1 A* Bond

1 TT

8,UU

5 jr

620

I./1/58-EA

5 yr

383

5/1/53
6/1/53

6/15/78-83

30 yr

2-5/811 Certificate

-

6/1/5I.-B

1 jr

7/15/53

2-I/2H Certificate

-

3/22/51. -c

8/15/53

2-5/8* Certificate

-

8/l5/5l.-I>

9/15/53
9/15/53
10/1/53

2-5/8* Certificate
2-7/8* Bote
1-1/2* Bote

-

9/15/51.-1

11/9/53

2 -3 A*

BoM

9/15/61

7 yr

10

m

12/1/53
2/15/53

1-7/8* Bote
2-1/3* Bond

I2/15/5I.-B

1 yr

i
10

m

2/l5/5k

1-5/8* Certificate
2-1/2* Bond
1-1/2* Bote

2/15/55-A
11/15/61
I./1/59-BA

5 yr

1-7/8* Bote

2/15/59-A

I.

25 yr

1.18

li

5/

11,858

8,687

(tax ant. X/)

2/15/51'
k/l/S"'

5/17/5H
5/l7/5lt

1

8/2/51.

1

-

1-1/8* Certificate
Certificate 1*.
(tax ant. Ij/)

5/17/55-B
3/22/55 -C

-

8/15/55-D

1-1/8* Certificate
2-1/8* Bond
1-5/8* Bote

10/1/5".

1-1/2* Bote

8/15/5^
12/15/5^

r

112/15/51.

2/15/55
2/15/55
2/15/55
1./1/55

l'/l/55

5 yr
1 yr
7 yr

yr

9

m

U/

1 yr

U/15/60

6yr

5/15/57-B

2 yr

lO/l/59-BO

5 yr

3,558
3,806
l.,155

8,190

yr

1 yr

5,359
6,755

1-5/8* Bote
Bote
2*
Bond
3*

3/15/56-A
8/15/57-C
2/15/95 i5/

1 yr
2 yr
1.0 yr

3,792

1-3/8* Certificate (tax ant. 16/)

6/22 /55-y

1-1/2* Bote

I./I/60-KA

5 yr

8/15/56-B 11/

1 yr

-

Bote

5/17/55

2*

1-7/8* Certificate

-

(tax ant. Jj/)
Bond

Certificate
(tax ant.

8/1/55

-

1

-

^)

lOi,
1 yr

12/1/55

2-7/8* Bote

6/15/58-A

21./

2 yr

3/5/56
12/1/55

2-5/8*
2-7/8*

2/15/57-A
6/15/58-A

21./

2 yr

1,1.86

10/1/60-BO

5 yr

278

12/1/56-D

1 yr

9,083
2,283

Ui

l./l/61-EA

5 yr

8/1/57-D
3/22/57-B

1 yr

7/16/56
8/15/56

2-3A* Bote
2-3A* Certificate

10/1/56

1-1/2* Bote

12/1/56

1 12/1/56

3-1 A* Certificate (tax ant. 2l/)
3-1 A* Certificate -

[2/15/57
1 2/15/57

3-3/8*
3-1/2*

5/15/60-At

3-3/8*
3-1/2*

2/1U/58-AI
5/15/60-a|

7,219
2,109
11.1.

10,613

(tax ant. 2^/)

r

i
I

1

2/15/57
2/15/57

10/1/61-BO

332

6/21. /57-C

1,312

10/1/57-1)

I./1/57

1-1/2*

1./1/62-IA

5/1/57

3-1/2*
3-5/8*

2/15/62-A

?£/

^

8/

fl yr

l3yr

7,W9

flyr
[3

yr

5 yr

lli m

I./I5/58-B
1.

yr

9la

2,532

2,202

8,778

t

-

3,171.

6,61.1

3

6/22/56 -C

2-5/8* Certificate

1-1/2* Bote

3,989

2/15/95 15/
6/22/56-B

12/1/55

-

198
3

10,620

8/15/56-B 11/

2-1 A* Certificate

1,921.

3/22/56 -A

^)

Bote

8,1.72

7,938

f

l'/l/56

»

2,897
3.886

(tax ant.
1-1/2* Bote

t

1,71.8

9

7,007
11,177
119

7j

10/1/55

r

8,175

B

8yr

7/18/55

lO/U/55

2,997
121

5 jr

8/15/55-D 13/
12/15/55-K
8/15/63

1-1/8* Certificate
1-lA* Certificate
2-1/2* Bold

5/17/55

I

-

.,721.

yr

3

l.,919

2/15/55
f

3/15/57-A
10/1/58-SO

12/15/58 a/

ioiA/5^

8/15/51.
8/15/51.

I

2,788
1 yr

In exchange
for other
securltlee 2/

April

ms

27

.DEBT OPERATIONS.

Table 4

Date
•utecrlptia
books were
opened

Offerings of Marketable IsBues of Treasury Bonds, Notes,
and Certificates of Indebtedness-tContlnued)
Anount of
subacrlptlo
tendered

Deecrlption of eecurlty

ABouat Issued
T» exeluB0S

for other
securities Zj

Cash 1/

(in mlllloDfi of dollars)

7/22/57

y

3-5/8* Certificate
1|)(
Certificate
lijl
Bote

12/1/57-E
8/1/58-C
8/1/61-A

8/1/57

Ujt

8/1/58-C
8/15/62 -B
10/1/69

9^6/57

Ui

[10/1/57

It*

Certificate
Bote
BcDd

1-1/2*

ICote

10/1/62 -SB

i-i/>>i Bote

r

9/16/57

8/1/57
8/1/57
8/1/57

10/1/57

100
100
100

30/
il/
JO/
21/

1 yr
U yr
12 yr
5

jr

U

yr

U/20/57

ru/29/57
[12/2/57

11/15/62 -C
11/15 /7l«

16 jr

11^1/57

12/1/57

3-3/''* Certificate

12/1/58-D

1 yr

r2/lU/58

t-l/2* Certificate
Bond
3*
3-1/2* Bond

2/l''/59-A
2/15/61*

1 yr
6 yr
32 yr

2/3/58

2/H/58
i2/lU/58

2/28/58
It/

'•/7/58

3-7/8* Bond

2/15/90

2/28/58

3*

Bond

8/15/66

'./1/58

1-1/2* Note
2-5/8* Note

I1/1/63-EA

"•/is/se

2/15/63 -A

^

,

3,067
6,121

9,871
10,U87
2,509

35/
100

l,lli3

7,786
3,817

651*

9,833

9,833

9,770 p

9,770 p

3,8511 P

3,85't P

1,727 P

1,727 P

yr

36/
32/
100

38/

6,715 P

5 yr
•*

[100 2g/

}2i/

2,000
657

l»,61t8

5^

Souroat Bureau of tb* Pultllc Debt. Frellalnar; figures are froa subacrlptlon and allotaent reporte; final figures are on "clearance"
baslB in dally Treaaury eta tenant.
Conalata of all public caeh eubecrlptiona and aubaorlptiona by
United Statea GoTemaent invaataent accounta.
2/ For Baturing aeourltiea exchanged for the new iaauea, aee Table 6.
3/ The 2-1/2^ bonde dated February 15, 1953, were reopened with all
the bonds of the aerlaa Identical in all respeota. aa an exchange
offering for the 2-1/8^ notee which matured Deceaber 1. 1953Total exchangee In the two offeringa aaounted to $2,3^ Billion.
k/ Exchange offerli^ arailable to ownera of nonaarke table 2-3/U^
Treaeury Booda, InveatMent Seriaa B-1975-dO, dated April 1. 1951For further inforaation on the original offering aee "Treaaury
Bulletin" for Anril 1951, page A-1. Aaounta shown are aa of
March 31, I958.
2/ The bend offering wat aade available for exchange of Serlea F and G
aavlnge bonds aaturing froa May 1 through Deceaber 31, 1953.
6/ Total allotaenta co oash subscriptions ware Halted to approxiaately
$1,000 alllion. Honbank subscriptions in anounts up to and including
$5,000 were allotted in full. All o;ther eubBorlptions were allotted
20 percent. CoH»rclal banks* aubecriptlons were restricted to an
aaount not exceeding 5 percent of their tiae deposits aa of
Deceaber 31, 1952. The Treaaury also reeerred the right to allot
Halted aaounta of these bonds to Govemaent inreataent accounta,
which aubacribed to a total aaount of $ll6 alHloa. Payaent for the
bonde allotted could be aade with accrued Intereet at any tlae not
Uter than July 31, 19532/ Alao deaignated tax anticipation certificatea, acceptable at par plus
accrued intareat to aaturlty in payaent of inooae and proflta taxes
due March 15, 195**.
6/ Subacrlptlons for aaounta up to and Including $100,000 were allotted
in full. Subscriptions for aK>unt8 over $100,000 were allotted 67
percent but in no case less than $100,000.
Subscriptions for aK>unta up to and Including $10,000 were allotted
in full.
Subscriptions froa nutual savings banks, insurance coapaniea, pension and retirement f unas and State and local govemaenta
were allotted 2U percent. All others, Including conaerclal banka.
ware allotted I6 percent but not leas than $10,000 on any one
Bubaoriptlon.
19/ Subacrlptlons for aaounta up to and Including $10,000 were allotted
in full. All other eubacrlptlons were allotted 22 percent but In no
case lees than $10,000.
11/ Alao designated tax anticipation certificates, acceptable at par plua
accrued Intereat to aaturlty in payaent of inooae and proflta taxee
due March 15, 195512/ Subacriptiona for aaounta up to and including $50,000 were allotted
in full. Subscriptions for aaounts over $50,000 were allotted

^

9,871
10,U87
2,509

100

10m

15,7^1 P

32/

1^0 percent but in no caee loss than $50,000.
The 1-1/6^ certificates dated August 15, 1951*. were reopened with
all the certificates of the serlea identical In all reapecta, as an
exchange offering for the \-l/Q$ notea which aatured Deceaber 15.
195^, the 2^ bonds which aatured Deceaber 15, 195^. aid the 2% bonds
which were called for redaction on Deceaber 15, 195**' Total exchanges in the two offeringa aaounted to $8,U77 alllioo.
lU/ Subacrlptlons for aaounta up to and Including $50,000 were allotted
in full. Subacriptiona for aaounts over $50,000 were allotted 50
percent but in no caee leaa than $50,000.
jtg/ The 3^ bonde dated February 15, 1955, were reopened with all the bondi
of the eerlea identical In all respects, as an additional oash offerli
on July 11, 1955, for payment July 20, 1955. The total amount ieeued
in the two operations wae $2,7^5 million,
16/ Alao deaignated tax anticipation certificatea, acceptable at par plus
accrued intereat to aaturlty In payaent of incoac and profits taxes
due June 15, 1955.
17/ The 2% notea dated May 17, 1955, vere reopened with all the notea of
the aerlea identical in all reapecta, aa an exchange offering for the
1-1/8^ certificates aaturing August 15, 1955- Total exchangee In the
two offerings aaounted to $10,015 alllion.
16/ Cash aubecriptlons for $100,000 or leaa were allotted in fxill. Subacriptiona for acre than $100,000 were allotted 62 percent but in no
caee leaa than $100,000.
12/ Alao designated tax anticipation certificatea, acceptable at par plus
accrued intereat to maturity in payaent of Incoae end proflta taxea
due March 15, 1956.
20/ Subacriptiona for $100,000 or leae were allotted In full. Subacrlptlons for more than $100,000 were allotted 19 percent but in do case
less than $100,000.
21/ Subscriptions from aavlz^s-ty3)e investors totaled $7*^9 aillion and
were allotted 65 percent. Subscriptions froa all other investors
totaled $970 alllltm and were allotted 30 percent. Subscriptions
for $25,000 or leas were allotted in full. Subscriptions for more
than $25,000 were allotted not lees then $25,000. In addition to the
aaount allotted to the public, $25 allJLlon of the bonda were allotted
to Govemaent inveataMnt accounta.
Savlnga-type Inveetora were given
the privilege of deferring payment for the bonda provided that not
leas than 25 percent of the bonds allotted were paid for by July 20.
1955^ not leaa than 60 percent by Septesiber 1, 1955, and full pajrBent
by October 3, 1955.
22/ Aleo deaignated tax anticipation oertlfloatea, acceptable at par plua
accrued intereat to aaturlty In payaent of incoae and proflta taxes
due June 15, 1956.
2^/ Subacriptiona for $100,000 or leaa were allotted in full. Subscriptions for more than $100,000 were allotted 32 percent but in no case
leaa than $100,000.
Beaainlng fooutotes on following page.

iV

,

Treasury Bulletin

2S
.DEBT OPERATIONS,

Footnotes to Table 4 - (Continued)
aU/

25/

26/

22/

26/

2?/

W
31/
32/

The 2-7/8lt not«e dated December 1, 1955, were reopened with all the
notea of the series Identical In all respects, as a partial exchange
offering for the 1-5/8* notes maturing March 15, 1956. Total exchanges In the two offerings amounted to $U,392 million.
Also deelgoated tax anticipation oertlflcatoe, acceptable at par plua
accrued Interest to maturity in payment of Inooae and profits taxes
due March 15, 1957Subscriptions for $100,000 or less were allotted In full. Subscriptions for more than $100,000 were allotted 29 peroent but In no case
less than $100,000.
Also designated tax anticipation certificates, acceptable at per plus
accrued Interest to maturity in payment of Income and profits taxes
due June 15, 1957The 3-3/8* certificates dated February 15, 1957, and the 3-1/2* notes
dated February 15, 1957, were reopened with all the certiflcatee and
notea of each series Identical In all respects, as an additional cash
offering on March l8, 1957, for payment March 28, 1957. Total lasuea
In the two offerlnga amounted to $10,851 million for the certiflcatee
and $2,ti06 million for the notea.
Subscriptions In exceee of $100,000 were allotted 31 percent for the
certificates and 12 percent for the notea. Subecrlptlons for $100,000
or leas for both iaauee were allotted In full and subscriptions for more
than $100,000 were allotted not lees than $100,000. In addition to the
amount allotted to the public, $100 million of the notes were allotted
to Government Investment accounts.
The U* certificates dated August 1, 1957, were reopened with ell the
certificates of the aerlea identical In all respects, as an additional
caah offering on September 16, 1957, for payment September 26, 1957.
The total amount iesued In the two operations was $11,519 million,
Bedeemablft at the option of the holder on August 1, 1959, on three
months* advance notice.
In addition to the amounts issued In exchange, the Treasury allotted
$100 million of each issue to Government Investment accounts.

33/

3U/

3^/

^6/

^7/

^
iS/

p
n.a.

Redeemable at the option of the holder on February 15, I96O, on three
months' advance notice.
Subscriptions In eioese of $100,000 were allotted 22 percent for the
certificates and 28 percent for the notes. Subscrlptlone for $100,000
or leas for both issues were allotted In full, and eubscrlptlons for
In addition
more than $100,000 were allotted not lees than $100,000.
to the amounts allotted to the public, $100 mlllioD of each Issue were
allotted to Government Investment accounts.
Subscriptions for $50,000 or less were sllotted In full. Subscriptions
for more than $50,000 were allotted 10 percent but in no case leas
than $50,000. In addition to the amount allotted to the public, $100
million of the bonds were allotted to Government investment accounts.
Payment for not mora than 50 percent of the bonds allotted could be
deferred until not later than October 21, 1957.
Subscriptions for $10,000 or leaa were allotted In full. Subscription?
for more than $10,000 were allotted 25 percent to savings-type investors
and 12 percent to all other subsoribera, but In no case lese than $10,000.
In addltlOTi to the amount allotted to the public, $100 million of the
notes were allotted to Government Investment accounts.
Subscriptions for $10,000 or leae were allotted In full. Subscriptions
for more than $10,000 were allotted 26 percent to savings-type investors
and 10 percent to all other aubacrlbera, but in no case leee than $10,000.
In addition to the amount allotted to the public, $100 million of the
bonds were allotted to Government investment accounts.
Subscriptions for $10,000 or lesa were allotted In full. Subscriptions
for more than $10,000 were allotted 20 percent but In no case less than
$10,000. In addition to the amount allotted to the public $100 million
of the bonds were allotted to Government Investment accounts.
Subscriptions for $25,000 or lesa were allotted In full. Subscriptions
for more than $25,000 were allotted 2U percent but in no case less than
$25,000. In addition to the amount allotted to the public, $100 million
of the notes were allotted to Government Investment accounts,
Preliminary.
Not available.

March /958
.DEBT OPERATIONS.

Table S«- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury
Bonds, Notes, and Certificates of Indebtedness 1/
(Hi

!•»

BlUlou

of

AoUunO

.

30

Treasury Bulleiin
.DEBT OPERATIONS

Table 5.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury
Bonds, Notes, and Certificates of Indebtedness i/- (Continued)
(In

Iiaue

lU.lcma of loUurs)

April /95,S

31

.DEBT OPBEATIONS.

Table 6.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness

Treasury Bulletin
.DEBT OPERATIONS.

Table 6.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness i!>/- (Continued)

April

mn

33

.DEBT OFKRATIONS.

Footnotes to Table 6
1/

2/
2/
kj
5/

6/

2/
8/

2/
10/
11/

Original call and maturity dates are used.
All by Investors other than Federal Reserve BanJis.
For breakdown of total exchanges between the two new securities,
see Table U.
The 2-1/2^ bonds maturing December 15, 1958, were reopened for the
December 1, 1953, refunding (see Table U).
On November 9 , 1953 , the Treasury purchased from the Federal
Reserve System and retired $500 million of the g-l/W Treasury
notes maturing December 1, 1953. For further detail see "Treasury
Bulletin" for November 1953, Page A-1.
It had been announced that holders of these bonds would be given
an opportunity to exchange them for another Treasury Issue after
February 15, 195I*. This exchange offering was Included In the
refundlnes of May 17, 195'>
Tax anticipation aeries; $2,669 million redeemed for taxes due
March 15, 1951*, and $3,233 million redeemed for cash.
The 1-1/8* certificates maturing August 15, 1955, were reopened
for the December 15, I95U, refunding (see Table U).
Tax anticipation series; $2,216 million redeemed for taxes due
March 15, 1955, and $l,5l8 million redeemed for cash.
The 2* notes maturing August 15, 1956, were reopened for the
August 1, 1955, refunding (see Table It).
Tax anticipation series; $1,917 million redeemed for taxes due
June 15, 1955, and $1,293 million redeemed for cash.

12/

ii/
lUy

1^
16/

17/

16/

19/

20/
p

Also designated tax anticipation certificates, acceptabU at par
plus accrued Interest to maturity In payment of Income and profits
taxes due J-jne 15, 1956.
The S-l/Si notes maturing June 15, 1958, were reopened for the
March 5, 1956, refunding (see Table U).
Also Treasury bills in the refunding of February lU, 1958.
Tax anticipation series; $1,67U million redeemed for taxes due
March 15, I956, and $528 million redeemed for cash.
Tax anticipation series; of the 25fc certificates $1,013 million
were redeemed for taxes and $'"73 million for cash; and of the
2-lA(fc certificates $1,891 million were redeemed for taxes and
$1,079 million for cash.
During J'ine 1956, $159 million of St Treasury notes maturing
August 15, 1956, were purchased by the Treasury for account of
the Sinking Fund ani retired.
Also designated tax anticipation certificates, acceptable at par
plus accrued interest to maturity In payment of Income and profits
taxes due June 15, 1957.
Tax anticipation series; $1,922 million redeemed for taxes due
March 15, 1957, and $1,299 million redeemed for cash.
Tax anticipation series; $620 million redeemed for taxes due
June 15, 1957, and $692 million redeemed for cash,
Preliminary,

Treasury Bulletin

3"^

.UHITED STATES SAV3JIGS BONDS.

United States savings bonds were first offered In
March 1935 and began to mature In March 19U^5. Series A-D
were sold between March I935 and the end of April iglf-l,
and 3erleB E, F, and d were first offered In May ig"*!.
When Series E began to mature on May 1, 1951> owners of
To redeem
the matured bonds were offered three options;
the bonds In cash In accordance with the original terms;
to retain them with an extended maturity of 10 years at

specified rates of Interest accrual; or to exchange them
for Series (J bonds. A number of changes became effective
May 1, 1952.
The principal ones were: The rate of
Interest accrual on Series E was increased, especially for

with corresponding changes In extended
were replaced by two new
Series E; and Series F and
Issues, Series J and K, also at higher Interest rates.
A new current-Income bond. Series H, similar In Interest
the near term,

return to Series

E,

was offered beginning June 1.

Details

of these changes appear In the May 1952 Bulletin, page A-1.
began to mature on May 1, 1953- For the
Series F and

exchange offering made to holders of these bonds maturing
through December 3I, 1953i see the May I957 Issue, page A-1.
Sales of Series JandK were discontinued after April 30,1957.

An Increase In Interest rates on Series Band H was announced
on April 20,1957, retroactive to February 1, Details of the
changes appear In the May 1957 Bulletin, page A-1.
In
the tables which follow, Series A-F and J sales are Included
at Issue price and total redemptions and amounts outstanding
Series 0, H, and K are
at current redemption values.

Included at face value throughout. Matured bonds which
have been redeemed are Included In redemptions. Matured
F and G bonds outstanding are Included in the Interestbearing debt until all bonds of the annual series have
matured, when they are transferred to matured debt upon
which Interest has ceased.

Table 1.- Sales and Redemptions by Series, Cumulative through February 28, 1058
(Dollar aaounta In mllllonQ)

ms

April

35

.UNITED STATES SAVINGS BONDS.

Table 3.- Sales and Eiedemptlons by Periods, Series B through K
(In mllllona of dollara)

Bedemptlona

Sales plu
accrued
discount

^

Salea
price 5/ 6/

Amount outstanding

Accrued
discount 6/

Series E and E combined
Flacal yeara
19ltl-1950

58,697
3,272
3,296

1951
1952
1953

l>,06l
l',653

1/
1955 2/
195''

5,225
5,260

1956
1957

3,669
1,035
1,111
1,120
1,126
1,123

62,366
•,307

27,872
I.,
295

l*,U07

li,008

5,181
5,77?
6,3U8

It,

038

',31'"
l»^5l>i

'',613

1,133

6,3711
5,7l»6

•,730
5,176

60,330
3,190
3,575

'*,173

6U,503

30,009

l»,270

27,182
3,987
3,583
3,538
3,791
3,9or
It, 072
U,l*60

690
307

31*, 1*91*

1*25

31*

500
55't

36,01.8
37,1182

636
658
716

111, 1198

832

3lt,lt93

31*8
1*76

311,727
35,32li

531
535

36,663
38,233

31*, 506

,905

39,285
110,929

Calendar years:
19111-1950

1951
1958
1953

5,368

1,080
1,120
1,128
1,126
1,113

5,01*3

l,12li

11,507

UOO
392

'•,368
14,889

195''

1955
1956
1957

It,

036

5,1*96

U,098
•,157

6,015

lt,Ultlt

l»,69li

29,177
3,688
3,622
3,625
3,909

6,li8l

It,

652

3,9119

l',832

l*,l6li

l,llt3

6,167
5,6U9

5,1*69

I*

U5

515

529

87
87

1*79
Ult9

1*79
U5I*

337

U18

33lt

lt25

U38
378

368

l»82

1*10

1*0,063
1*1,398
1*1,578

,697

Months

1957^vay
August. ..
September

October.,
November
December.
1956-January ,
February

1*1,1*85
1*1,1*81*

1*1,1*80

369
307
355

1*1,1*60

111,506
1*1,578

626

1.63

1*1,686

I19U

292

Ul,801

Series F, 0, J, and K combined 3/
Fiscal years:
191*1-1950

26,005
1,871
629
501

1951
1952
1953

1/

81*1

1955 1/
1956
1957

1,21*9

1951*

586

96
108
108
108
100

268

26,332
1,961
726
610
9U9
1,357
686
352

11,185
1,01*2

11*1

22,11*7

1,021
990
1,511
2,071

23,066
22,780
21,837
20,579
19,060
16,568

I*,

1,012
1,552
2,152
2,692
3,105

2,561*
2,91*6

3,771*

3,612

13,121*

23,089
22,859

81
128

Calendar years:
191*1-1950

27,399
770
586

1951
1952
1953

Ii32

1951*

l,281i

1955
1956
1957

907
I175

371

27,770

l*,68l

11,627

93
100
109
110

863
686

1,093

1,071
908
1,909

2,526
2,636

2,1*28
2,1*98

3,1*22

3,255

11,153

3,9911

360
271
259

339
263
250

12,789
12,537
12,295

290

282
306

12,021
11,722
10,896

5I12

1,391*

1,010
567
172

22 ,616
21,01*7
19,1*39

«8

17,861

167
160

10,896

11*

,895

Months:

1957^uly
August . .
September
October.
November.
December.
1958-Januftry

,

February.

Footnotes at end of Table U.

316
I103

1*80

210

(Ccoitlnued on following page)

10,657
10,513

.

36

Treasury Bulletin

•

.inHTED 3If!SES SAVINGS BONDS.

Table 3.- Sales and Redemptions by Periods, Series B through K -(Continued)
(In mllllona of dollars)

Bedemptions 2/ U/

Sales plu
acorusd
discount

Sales
price i/ 6/

Accrued
discount 6/

Fiscal years:

19U1-1950
1951
1952
1953
WS""
1955
1956
1957

58,697
3,872
3,266
3,700
3,988
'»,095

3,669
1,035

62,366
It, 307

1,1U

"•,377

1,120
1,126
1,123

U,821

U,219
3,919

l.llli

60,330
3,190
3,393
3,906

l«,173

1,333

5, n't

5,218
5,333
5,052

27,872
I.,
295
U,006
14,032
l',319

U,U90
li,622

U,98l

27,182
3,987
3,583
3,532
3,765

690
307

3,8514
3,9614
1>,265

636
658
716

29,177
3,688
3,622
3,609
3,871
3,870

832

I425

500
5514

Calendar years:
191*1-1950

1951
1952
1953

I*,1U2

1,080
1,120
1,128
1,126
1,113
1,12U

3,875

l,lli3

023
U,192
It,

195't

1955
1956
1957

6U,503
U,270

30,009
14,036

"•,513

5,03U
5,1'>9
5,30li

l4,U06
14,572

14,021

5,266
5,018

l4,l4U9

Months:

1957^uly
August . .
September
October.
November
December
1958 -January.
February.

332

l.l>7

506

UI46

3''5

U32

I458

391

321

l»08

1429

292

I416

3147

288
315

356

285

05
335
It

I497

116
87

36I4

Series H 8/
Fiscal years:

3I48
I476

531
535

April

ms

37

.UNITED STAEES SAVHiGS B0KD6.

Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In mllllonB of dollara)

Matured bonds
Period 2/

Total

Total
matured 6/

6,137
5,109
5,621
6,515
7,251
7,8U6
8,958

5,8U0
5,651
5,07''

6,1U9
6,985
7,301

In exchange
for Series G
and K

817
792
1,761
2,7''7
3,9'tl

1,'»87

l,'t86

'',263

1,917
1,971

1,825
1,917
1,971

2,101
2,335
2,135

25''

2'>9

968
1,328
1,500

962
1,326
1,U99

2,0it7

2, Oil?

1,891

It,

115

772
1,015

987
518
U7

9,630

'4,156

2,081t

1*26

162
l8o

162
180

11.7

llt7

182

182
187
lUU

291
229
261
291
296

187

378

lltS

lt96

2I1I

Source:
Dally Treasury statement.
1/ Details by series on a cumulative basis and by periods for Series A-D
combined will be found In the February 1952 and previous Issues of the
'*Treasury Bulletin."
Includes exchanges of matured Series £ bonds for Series G bonds beginning May 19^1 and for Series K bonde beginning May 19^
X/ Sales of Series J and K were discontinued at the close of business
on April 30, 1957.
hj Includes both matured and unmatured bonds; see Table h,
Includes total value of redemptions not yet classified between matured
and unmatured bonds.
6/ A change In procedure, beginning In June 195'', for proceasing redeemed
savings bonds has resulted In a high level of redemptions not yet
classified between matured and unmatured bonde. This Increase temporarily obscures the relationship between the redemption columns showing sales price and accrued discount in Tables 2 through '' and also
the relationship between the matured and unmatured sections of Table k.

u
^

Sales
price i/

14,996

'',317

602 10/
l,2ltl 10/

1,891
2,08U

691.

5,320

37
1,126

8,26ii

813

unmattn*ed

5/6/

691.

1,12B

2,318
3,171
U,230
U,2U6

729

Unmatured bonde

3,860
3,768
3,310
3,583

3,622
3,577
3,lU2

<>,'ft3

It

'',853
'.,879
'',059

l»,583

,666

'',571

3,8llt

3,071

2,901»

U.Olfl

3,862
5,280

3,831

2,3'»5

2,06U

191
168

3, ''39

3,806
3,613
3,655

967 10/
1,657
2,169

32U

271
238

270
308
253
217
159
167
156

Ul»8
ltU5

U67

U9

78

517

38U
502

620

606

103

151

7l»

(3ee also footnote ^). The subsequent dletrlbutioo of this high
level of unclasBlf led redes^tlons may be large enough In an; month
to show redemptlone of i&atured bonda for a series In Table U which
are greater than the total redemptions of that aeries aa shown In
Table 3, and to show a negative In the unmatured section of Table U.
Reductions were made In Issues and reden^tlons of Series E, H, F, G,
J, and K In July 19^ to contpeosate for the erroneous Inclusion of
reissue transactions In June 19^ as reported In the dally Treasury
statement. The amounts involved were as follows: $1& million for
Issues of Series E and B and $17 million for Issues of Series F, G,
J, and E; and $3^ million for unclassified retirements.
Sales began June 1, 19^*
Comparable data are not available prior to January 1950.
Includes exchanges of Series 19^*1 F and G savings bonds for Treasury
3-lA% bonds of 1978-83
Less than $^00,000.

38

Treasury Bulletin
OWNERSHIP OF FEDERAL SECURITIES.

Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)

April

mn

39

-OWNERSHIP OF FEDERAL SECURITIES.

Table 3.- Eetimated Ownership of Federal Securities
(Par values 1/ In bllllona of dollars)

Held by private nonbank Investors

Total
Federal
aecurltle
outstanding 2/
1939-December.

..

19l.0<une
December.

.

19li2

.

,

.

.

-June

December
19l*3-Jiine

19l*li

December.

.

-June
December.

.

19U5-June
December.

18.

15.9

6.5

22.

1.9

18.6
19.5

16.1

7.1
7.6

22.8
23.9

2.6
2.8

21.1(

2.2
2.3

8.5
9.5

25.0
31.0

11.2
13.6

77.0
112.5

28.7

26.0

2.6
6.2

37.7
53.0

9.1

1.1.1

10.6
12.2

17.8

1*7.3

23.7

13.1.

luo.e
170.1

59.1»

7.2
11.5

11..

71.5

52.2
59.9

67.0
81.7

30.9
37.6

202.6
232.1

83.3
96.5

68.
77.7

lit.

19.1
21.7

100.2

1.6.1

18.8

III..O

53.3

31.2
36.2

106.0
115.0

81(.2

21.8

21.

59.1

1.0.7

90.8

2l(.3

27.0

128.2
136.6

61..

1.2.9

116.7
108.2
97.9

93.8
8U.1.

22.9
23.8

71*.

23.3

28.0
29.1
30.9

135.1
132.6
130.7

21.9
22.6

32.8

133.7

.U

131.3

252 .U
252.9

85.9
85.8

61..

62.5

21.
23.3

35.8
37.3

130.7
129.7

252.8
257.2

82.lt

19.3
18.9

38.3

85.7

63.0
66.8

132.2
132.1

257.11

83.9
82.6

65.6
61.8

18.3

256.7

20.8

37.8
39.2

. .

255.3
259.5

81.
85.
81.

. .

259.2
267.

.

.

.

1950-June
December ...

195S^une
1953 -June

December.

^

66.6
65.7

1.5.5

21.1

2I1.6

U6.2

19.1.

23.9

65.6
65.5

1.7.1
1.7.8

18.6
17.6

66.6
66.3

U8.8
1.9.3

17.8
17.0

135.6

67.1.

131..

66.3

1.9.9
1.9.6

17.6
16.7

1.9.1
1.9.1

16.3
15.5

6.7
6.5
6.3

22.8

12.0

13.6

21.2

U.5

11..

7.8
7.9

21i.9

11.6

19.8
18.7

58.8
63.7

21(.7

1.7.6
1.8.3

135.0
137.3

66. ir

25.9

16. 9r
15. 5r

63.6
69.2

25.0

1.9.3
1.9.6

133.3
135.1

6U.8
63.6

1.9.5

15.3

50.0

13.7

15.0

61.

23.6
23.6
23.8

1.9.1.

136.9
136.7

65.0

11..

15.0

lltO.l.

11.2.3

66.2
65.6

50.2
50.2
50.2
50.2

.2

63.5
62.1
62.0
81.9
80.8
81.3

276.3
276.
275.1

B1.3

April
May
June

27l».l

81.2

July
August
September

272.6

275.3
270.6
27lt.O
271*. 5

58.3
57.1
57.6
59.3
58.3
57.7
58.1

21..

21..

50.5
51.2
51.7

23.6
23.8
23.7

51.9
53.5
51.

.2

24.

51.

.0

61.

.9r

65.1.

1.9.3
.It

11.2.6

67.1.

50.1.

138.5
138.9
138.5

67.5
67.7
67.1

50.3
50.2
50.1

18.8
19.9

10.1.

16.0
15.8

9.5
9.2

ie.6r
21. 5r

15.3

9.1
8.8

16.6
19.2

8.8
8.7
8.7
8.5

19.3

11..

18.7
20.5
23.3

1I..9

lit.

16.0

15.0

15.1.

11.

17.0
17.2
17.5
17.0

13.1
12.8

.3

13.6
13.3

9.6
11.1

11..

15.1

8.5
8.U
8.3
8.0

20.8
17.5
18.6

15.7
15.7
16.0
16.1

8.1
8.1
8.1

20.2
20.9
18.0

16.2
16.3
16.6

17.1.

11.0.7
11.1.7

67.1
67.5

1.9.9
lt9.7

17.3

12 9

139.7

68.2

1.9.6

17.8
18.6

12.8
12.6

68.0
67.6

1.9.1.

18.6

12.5

1.9.3

1.9.1

18.3
18.3

12.lt

67.1.

12.3

17.9
18.5
15.7

16.8
16.8
16.9

137.3

18.7
19.2
19.6

12.3
12.2
12.2

16.3
16.8
16.1

16.9
17.1
17.2

19.5
19.6
19.3

12.2
12.1
12.0

7.8
7.6
7.6

16.1
16.1.

17.2
17.3

16.1

17.0

7.6

16.9

55.6

56.8
56.6
58.3

23.1.

23.5
23.3

55.2
55.8

138.0

55.lt

137.1.

67.5
68.0
68.2

1.8.6

55.lt

137.3
137.7
136.6

67.9
67.9
67.5

1.8.3
1.8.2

58.1
58.9

20.1
20.7

9.1.

9.8
9.6
9.5

.2

23.0

58.1

8.1

8.7
8.8

53.9
51.

139.2
139.6
136.2

81.8

18.1.

51..

53.7

81.

19.7

23.1.

23.2
23.1

27^.9
275.0

11.6
10.9

22.9
23.1

58.0
57.7
55.8

27l>.2

15.2

11.1.

15.8
16.8

10.2

1.9.0
lt9.2

1.9

6.5

19.9
17.8
15.3

83.6

61..

8.3

9.6
10.7
11.1
11.5
11.8

65.1

23.3
23.7
21. .2

51*.

55.3
55.2

27U.7

Source: Office of the Secretary, Debt Analysis Staff.
1/ United States savings bonds, Series A-F and J, are Included at
current redemption value.
Securities issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury. For amounts subject to
statutory debt limitation, see page 1.
i/ Consists of commercial banke, trust companies, and stock savings
banks in the United States and in Territories ajid island possessions.
Figures exclude securities hold in trust departments.
k/ Holdings by Federal land banks are included under "Miscellaneous
investors" instead of "U. S. Government investiaent accounts" after
June 26, I9I.7, when the proprietary interest of the Uhlted States
in these banks ended.
Includes partnerships and personal trust accounts. Nonprofit

2/

20.8
19.9
20.1

133.1.

. .

1958-Januflry p..

.2

ltlt.2

1.5.9

276.7

October
November ....
December ....

1.3.5

21(.7

27lt.3

.

1.3.3

63.3

63.1.

.

.

61..

61.

88.1

.

1957-January
February ,
March

2U.lt
2lt.9

2lt.O

65.1.

277.5
280.8
272.8

22.7

61..

87.8

.

17.3
19.6

18.5
21.2

132.9
131.8

27lt.l»

276.

17.1

13.1
15.1

130.8

27l(.l

1956 -March
June
September
December. .

II..9

1.2.3

Ul.O

3.1

8.7

1.1..

58.1.

State and
local
govern
enta 2/

10.3

11.7
12.9

23.0
23.8

91*.

.

39.1.

5.1.

22.9

, .

.

Corpora

7.6
8.2

61.1

271.3
278.8

.

31.

3.6

6.5
6.9

61.6

266.1
275.2

1955-March
June
September .
December,

Mutual
savings

3.1
7.8

.0

.

.

.

.9

70.0
68.7

19''9-JWB
December.

December .

16.9

91.9
91.3

258.

.

19.7

257.0

191(8 -June

195'l^une
December

21.8
23.7

.

.

1951-June
December

17.3

279.8
269.9
259.5

I9't7-June

December

Insurance
companies

.

£/

June
December.
December

banks

1/

1(7.6

.

191,6 -February

Individuals 5/

1(8.5

19l»l-June

December

u. s.

Government
Investment
accounts kj

67.5

6/
1/
8/

2/
p

r

1.8.9
1.8.8

1.8.1.

institutions and corporate pension trust funds are included unier
"Miscellaneous Investors."
Exclusive of banks and insurance companies.
Consists of trust, sinking, and Investment furels of State ani local
governments and their agencies, and Territories and Island possessions.
Includes savings and loan associations, nonprofit institutions, corporate
pension trust funds, dealers and brokers, and investments of foreign
balances awi international accounts in this country. Beginning December
191.6, includes Investments by the International. Bank for Reconstruction
and Development and the International Monetary Fund in special nonlnterestbearing notes issued by the U. S. Government.
Immediate postwar debt peak.
Preliminary.
Revised

U-0

Treasury Bulletin
.TFEASOET SDEVET OF OWTOSSHIP, JAmjART 31, 1958
Distribution of ovmersblp by types of banks and Insur-

The Treasury Survey of Ownership covers securities
Issued by the United States Oovernment and by Federal
agencies. The banks and Insurance companies Included In

cial banks distributed according to Federal Reserve member-

the Survey account for approximately 95 percent of such
securities held by all banks and Insurance companies In

bank classes and nonmember banks are published for June JO
and December Jl. Holdings by corporate pension trust funds

the United States.
Data were first published for
March Jl, igUl, in the May 19^1 "Treasury Bulletin."

Bulletin for quarters beginning December 3I,

ance companies Is published each month. Holdings by commer-

are published quarterly and first appeared In the March

Section I.- Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - In mlUlona of dollars)

19'*9

195'''

April

ms

in

.TFEASORT SUKVEY OF OWMRSHIP, JAMUARY 31, I958

Section I.- Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par TBluea

-

In millions of dollars)

»^2

Treasury Bulletin
.TREASOET SURVET OF OWWHiSHIP, JANUARY 31, 1958

Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)

April

ms

kk

Treasury Bulletin
,

MAEKET QUOTATIONS ON TREASURY SECURITIES, FEBRUARY 28, 1958

Current market quotations shovm here are over-the-

publlo marketable securities Issued by the United States

counter closing bid quotations In the New York market
for the last trading day of the month, as reported to

Oovernment except Panama Canal bonds. Outstanding
Issues which are guaranteed by the United States

the Treasury by the Federal Reserve Bank of New York.

Oovernment are excluded because they are not regularly

The securities listed Include all regularly quoted

quoted In the market.

Table 1.- Treasury Bllle (Taxable)
Amount

April 1958

^3
,

MARKET QUOTATIONS OH TREASURY SEOTRTriES, FEBRUARY 2B, I958

Table 4.- Taxable Treasury Bonds
(Price decinala ore 32ndB)

Amount

Treasury Bulletin
,

llJ

Q-

MARKET QUOTATIONS ON TREASURY SECaRITIES, FEBRUARY 28, I958

,

April 1958

^7
.aveea:>e ytfxds of long-tejw bonds.

Table 1.- Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Periods
(FeroeDt per annua)

TreaBury
bands 1/

Moodj*a Aaa
corporata
bonda

Troaaury
boalo 1/
Annual serlea

Wka

-

ig*?

2.*6
2.UT
2.U8
2.37
2.19
2.25

2.83
2.73
2.72
2.62
2.53
2.61

19*8.
19*9.
1950.
1951.
1952.
1953.

1953-Aprll
May

2.97 2/
3.11

3.23
3.3*

Jtuie

3.13

3.*0

1955-January.
February
March

July
August . .
Septenber

3.02
3.02

2.98

3.28
3.2*
3.29

October.
NOTember
December

2.83
2.86
2.79 1/

19*3
19l»'i

19*5
19l'6

Moodj*8 Aaa
corporate
bonds

calendar year averagee of mnthljr series

Monthly eerlea

2.**
2.31
2.32
2.57
2.68
2.9*
-

2.82
2.66
2.62
2.86
2.96
3.20

2.93
2.99
3.02

1956 -October...

April.
May...
June.

3.01
3.0*
3.05

1957-January...
February .
March

3.16
3.11
3.13

July
Auguat ....
September

2.91
2.95
2.92

3.06
3.11
3.13

April
May

3.06

3.10
3.10
3.15

July
Auguat .
September.

3.U

October. .
November
December.

2.69
2.62
2.53

2.95
2.86

October. .
November .
December.

2.*8
2.5*
2.55 i/

2.85
2.88
2.90

1956-January . .
February.
March

July
Auguat . .
September

2.*7
2.*8
2.52

2.89
2.87
2.89

April.
May...
June.

3.07
2.97
2.93

3.2*
3.28
3.27

October. .
November .
December.

2.5*
2.57
2.59 i/

2.87
2.89
2.90

July
August ....
September.

3.00
3.17
3.21

3.28
3.*3
3.56

.

2.55
2.8*
3.08
3.*7

1957.

2.68 2/
2.78
2.78 a/
2.82
2.81
2.82

March ....

,

195*.
1955.
1956.

averagea of dally series

195* -January,.
February.

April
May
June

Treaaurj
bonda \J

2.85
2.93 1/

3.08
3.10

November .
December .

3.20
3.30
3.*0
3.3*
3.22
3.26
3.32
3.*0
3.58 i/

.

.

.

1958 -January...
February
.

3.60
3.63

3.66 2/ i/
3.73

3.57 2/
3.30 i/
3.2* 2/
3.28

ks

Treasury Bulletin
.AVEIVGE YIELDS OF 3X)NG-TKFM BONDS.

CO

April

ms

1^9

-IMTERMAL PEVHIUE

COLI^mONS.

Table 1.- Summary by Principal Sources
(In tboutBiide of dollars)

Total
Adjustaent of
collectlona
to budget
receipts 1/

ooUeotloQs
reported hj
Internal
Revenue
Service

1950
1951
1952

39,1.1.8,607

<*91,*75

51,106,095

-.660,1.09

50,1*1.5,686

65,6311,891.

••625,308

1953

70,170,971.

•tl.61.,1.39

1951.

70,299,652

+361., 672

65,009,586
69,686,535
69,934,980

1955
1956
1957

66,288,692
75,109,083
80,171,971

1957>luly.
Aug..
Sept.
Oct..
Not..

Dec.
1958 -Jan..

38,957,132

66,288,692
-3,566 i/

80,171,971

3,305,723
6,259,360

3,305,723
6,259,360

7,851,71.3

7,651,71.3

3, 511., 31.9

3, 511., 31.9

5,552,811
6,110,977

5,552,811
6,110,977

1.

,909,675

y

75,112,61.9 5/

Individual Inooaa tax and sHployBent taxes

Corporation
Inoone and
profits
taxes

Individual
Inooae tax
not withheld 2/

Individual
IncoMB tax
withheld 1/

Old-age
and dlsahlllt7
insursnoe

^

UnsBploy-

Ballroad
retire

ent

Mnt

Ineuranoe

10 ,851., 351
14,387,569
21,1.66,910
21, 591., 515
21,51.6,322

19,797,883
26, 621., 788
33,738,370
37,254,619
37,921,314

7,264,332
9,907,539
11,345,060

18,261., 720
21,298,52a
21,530,653

37,869,770
42,633,426
46,610,293

10,396,480

51.0,623
355,1.77
2,30l.,32^

1,682,734
It, 808,
739
4,5a5,88o

269,019
128,109
1,822,538

1,393,602
4,596,167
2,648,861

53,858

754
882
623

1.28,780
367,1.20

1,900,23a
4,252,554
2,908,601

207,162
97,476
352,198

1,661,603
4,085,543
2,506,538

30,740
68,796
49,177

726
739
687

18,721

53,272

2,276,805
1.85,601

U,403,942
10,736,578

U,321,966
12,302,229

2,060,220

9,888,976
13,089,770
17,929,047
21,132,275
22,077,113

1,873,401
2 810 , 749
3,584,025
3,816,252
4,218,520

548,038
579 ,778
620,622
628,969
605,221

223,135
236 952
259,616
273,182
283,882

21,253,625 4/
24,015,676 2/
26,727,543

5,339,573 4/
6,336,805
6,634,467

600,106 4/
634,323
616,020

279,986
324,656
330,034

,

,

50

Treasury Bulletin
.INTERNAL REVENUE COLLECTIONS

INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES

DOLLARS
Billions

DOLLARS

DOLLARS

Billions

Billions

46

ZZ
Corporation Income

Individual Income Tax and

and Profits Toxes

Employment Taxes*

^

z

laja
1943

1943

"45

47

'49

u
51

'53

55

57

Beginning with the fiscal tear 1955, includes undistributed depositary receipts and unapplied cotlections. Themhole amount of such
for excise tones is included under 'Other excise taxisT

i

April 1958

51

.MONETAEY STATISTICS.

Table 1.- Money In Circulation
(In mllllona of dollare except per capita figures)

End of fiscal
year or nonth

Total
mone; In
circulation 1/

Total
paper
money

Gold
certificates
2/

Silver
oertlf-

25,661
26,231

1953
195k

27,156
27,809
29,026
30,125
29,922

1955
1956
1957

30,229
30,715
31,082

28,372
28,767

2,170

29,0lt0

2,162

30,933
31,133
31,073

28,883
29,073

31,090
31,661
31,83U 5/

29,007
29,562

1950
1951
1952

1956 -December.

1957-Julj
August.
September
,

.

October.,
November.
December
1958.January
February,
.

Treaeurj
notea of
1890
i/

2,177
2,092

united
States
notes

318
318
318
320

27, SI'S

28,359
28,127

319
318
321

2,11.8

29,763

30,576
30,55U

Federal
Reserre
notes

22,760
23,U56

27't

2k ,605

221
200
180

25,609
25,385

29,00li

26,225
26,li20

26,3611

26,887
27,031

28,516

2,010
2,026

28,li97

131
130

26,35''

29,72't

301
306

128
127

25,986
25,91*8

Money In
circulation
per capita
(In dollars) 6/
965
1,020
1,093
1,150
1,165

361
378
393
I1I9

181*

223
237
253

1,202
1,259
1,315

1*33

182.91

1*53

182 .6U

1.7U

181.52

1,319
1,325
1,330

U76
U78

1,578
1,678
1,766
1,795

1955
1956
1957

21.3

27,038
318
319

2,113
2,110
2,108

1,'>96

I95I'

National
bank
notes {*/

25,618
26,055
26,329

standard
silver
dollars
1950
1951
1952
1953

Federal
Reserve
Bank
notes i*/

1*13

179.03

180.17
1SU,90
188,72
.2U

187.22

1956 -December.

2,027

1957-July
August
September.

2,050
2,060
2,069

255
257
258

October. ..
November .
December

2,083
2,099
2,110

259
260
263

1,353
1,358

1958-January . .
February.,

a, 061

262
262

1,317

176. 73r

1,3 lU

176.38

.

Circulation Statement of United States Money.
Excludes money held by the Treasury, money held by or for the account
of the Federal Reserve Banks and agents, and coin estimated to be
held outside the continental limits of the llllted States. Includes
paper currency held outside the continental limits of the liiited
States.
Gold certificates were withdrawn from circulation in 1933.

Soijrce

1/

2/

2,057

:

180.U1
183. U9

l,3''l

i/
kj
5/
6/

180.36
181.23

180.58

131* .21*

Treasury notes of 189O in circulation are being canceled and retired
upon receipt by the Treasury.
Federal Reserve Bank notes and national bank notes are covered by
deposits of lawful money and are In process of retirement.
Highest amount to date.
Based on latest population stimates by the Bureau of the Census
1

52

Treasury Bulletin
.MONETARY STATISTICS.

Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts In milllone)

Oliver
($1.29* per

Gold

Bid of fiscal
year or month

($35 per
fine ounce)

fine ounce)

Ratio of silver
to gold end
sliver In
monetary stocks
(In percent)

1950
1951
1952

2I1

1953
1951*

22,U62.8
21,927.0

1955
1956
1957

21,677.6
21,799.1
22,622.9

It,

116 .6

15 .U

1956 -December.

21,9''9.5

'»,06U.l

15.6

1957-July
August ...
September,

22,626.9
22,626.2
22,635.5

l*,

127.6

15.1'

'',151.6
'',163.2

15.5
15.5

22,690.8
22,763.2

l',17l'.U

22 ,.781.0

li,

15.5
15.5
15.5

22,783.5
22,686.2

'1,209.3

,230.7

21,755.9
23,3't6.5

October.
November.
December.
1958 -January. .
February..

Source: Circulation Statement of Ifcllted States Money.
silver monetary stock see Table U,

3,671.5
3,718.5
3,768.5
3,8lU.3
3,863.1

13.2

3,922.''
3;99't.5

15.3
15.5

111

11'.

15.0

l',l8l.6

l«

.6

13.9

185.11

15.6
15.7

,236.2

For detail of

Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)

Liabilities:
End of calendar year

Gold certificates
etc.

22,706.1
22,695.5
23,187.1
22,029.5
21,712.5

1950
1951
1952
1953
195''

21,690.1>
21,9l'9.5

1955
1956
1957

22,781.0

1957^uly

1/

21,653.5
21,662.5
22,178.8

1,052.6
1,032.9

21,5''5.7

''83.7
''89.0

21,223.5

21,199.1
21,U58.3
22,272.9

1'91.2
1'91.2

'•92.3

August. ..
September.

22,626.9
22,626.2
22,635.5

22, 13 '1.7
22,127.2

October . .
November .
December.

22,690.8
22,763.2
22,781.0

22,193.1
22,270.8
22,272.9

lt97.7

1958-January ,
February.

22,783.5
22,686.2

22 ,292

.2

''91.3

22,287.2

399.0

.

Source: Circulation Statement of Uhlted States Money,
1/ Comprises (1) gold certificates held by the public and In Federal Reserve
Banks; (2) gold certificate credits In (a) the gold certificate

22,131.1

''99.0
50U.lt

It

92. It

508.1

fund - Board of Governors, Federal Reserve System, and (b) the redemption fund - Federal Reserve notes: and (3) reserve of $156.0
million against Iblted States notes and Treasury notes of 1890..

April

ma

53

.MONETAEY STATISTICS.

Table 4.- Components of Silver Monetary Stock
(In mllllona of dollare)

Silver held In Treaeurj
Bid of calender
year or nonth

Securing silver certificates l/
Silver
bullion 2/
2,0li0.Y

1950
1951
1952
1953

2,073.5
2,109.7

19^

2,171.1

2,ll»0.8

2,19'».'t

1955
1956
1957

,

1957^ulj

2,206.9
2,212.9

Subsidiary
coin 3/
312.8
301.0
289.3
278.3
267.6

Total
B liver
Bt $1.29*
per fine

In Treaevirer'e account

Subsidiary
coin 3/

Bullion for
recoinoge U/

l»5.3

6.3
1.8.0

30.7
11.0

179.8
191.3
202.5
213.2
223.1

1,022.2
1,063.1
1,158.1
1,213.1
1,2U2.7

3,697.1

3.9

253.5
236.3
219.0

15.7
2.3
8.2

17.6

235.1*

252.2
269.3

1,283.2
1,338.2

3,930.1

62.9
92.3

95.1 2/
82.0 2/

3,71*1.3
3,79''.l

3,837.0
3,886.6

1,1*02.6

i*,06U.l
U, 185.1*

1,372.9
1,382.6
1,385.5

I*, 163

260.7

2,210.2
2,211.3

227.7
225.0
222.8

71..

August. ...
SepteBber.

7.5
8.2

85.2
89.0

263 .U
265.5

October . .
Noreaber
December.

2,212.1
2,212.1
2,212.9

221.2
219 .It
219.

13.1
8.3
8.2

267.1
268.9
269.3

1,389.5
1,397.0

U,17lt.l*
1*,

181.6

1,1*02.6

1*,

185.1*

2,215.6
2,215.6

218.6
218.3

269.8
270.1

1,U03.8

*, 209.3

28.9

90.3
92.9
92.3
99.1'
108.5

1, 1*03.

1*,236.2

,

.

1958 -January...
February .

2,209.1i

16.9

Circulation Statement of United States Money: Office of the
Source
Treaeurer of the United States.
1/ Valued at $1.29* per fine ounce.
Bllver held by certain agencies of the Federal Gorernaent.
IncludeB
2/
:

1/
U/

»

Valued at $1.38t per
Valued at $1.38* per
according to whether
Bldlary silver coins
Lees than $50,000.

1*,127.6
1*,

151.6
.2

fine ounce.
fine ounce or at $1.29-* per fine ounce
the bullion la held for recolnege of eubor for recolnage of standard silver dollare.

Treasury Bulletin

5^
.MDKETAEY STATISTICS

.

Table 5.- Seigniorage on Silver
(Cumulative from January 1, 1935

-

In mllllonB of dollars)

Sources of seigniorage on silver bullion revalued l/
End of calendar
year or month

Newly mined silver
(silver and
minor)

Misc. silver
(Incl. silver
bullion held
June lU, 193U)

Nationallied
silver
(Proc. of

1931*

Aug. 9, V)lh.)

226.2
302.7
366.7

18.5

1935
1936
1937
1938
1939

Silver Purchase Act
of June 19,

I16.I

63.7
69.5
91.7

Proclamatio
of Dec. 21,
1933

Acts of
July 6, 1939,
and July 31, 19116

Total
seigniorage
on silver
revalued

3I1.5

326.2

3I1.7

I122.1

27U.9
397.5

311.7
3I1.7

508.1
616.0
705.6

758.8
950.6

I157.7

530.7

3I1.7

U.2

122.2
182.1

562.7
580 .U

3I1.7

25.7

759.I1

19l»l

3I1.7

I18.3

19'*2

21*5.7

U8.7

56I1.3

3I1.7

19'^i

299.6

I18.7

58U.3

3I1.7

63.6
65.3

19'»'i

362.3

U8.7

58I1.3

3I1.7

65.

799.7
818.9
820.6
820.7

19l»5

li29.5
l»91.9

701.6
832.1
832.1
832.2
833.6

3I1.7

65.5
66.5

19i>0

19116
19I17

520.5
559.2
578.7

19U8
19I19

I18.7
lt8.7
li8.7

1950
1951
195S

596.6

U8.7

6I12.3

I18.7

69I1.2

I18.7

1953

7I12.2

li8.7

1951*

792.9
807.0
839.6
890.3

U8.7

1955
1956
1957

1957-July
August ....
September

B67.8
873.0
877.6

October .
November .
December ,

lt8.7
I18.7

.

195B-Januftry

.

890.3

3I1.7
3I1.7

7I1.5

3I1.7

8I1.6

3I1.7

93.5

633.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7

311.7
3I1.7

10U.7
llU.6

3I1.7

125. li

3I1.7

13I1.7

3I1.7
3I1.7
3I1.7

1U3.8
150.8
155.2

3I1.7

156

833.7
833.7
833.7

311.7
3I1.7

833.7
833.7
833.7

311.7
3I1.7

.

Source: Bureau of Accounts.
1/ These Items represent the difference between the cost value and the mon
value of silver bullion revalued and held to secure silver certificates

Potential
seigniorage o
silver bulllo
at cost In
Treasurer's
account 2j

3I1.7

3I1.7

938.1
1,069.6
1,077.6
1,087.8
1,098.1
1,109.3
1,119.2
1,130.0
1,139.3
1,1U8.U

5I1I.6

1,055.8
1,089.0
l,0li8.2

967.3
717.3
333.2
161.2
l!i6.8

129.9
127.2
111.7
81.9
57.2
3lt.9

6.6

1,155.11

111.3

.li

1,159.8
i,i6a.o

50.0
72.9

155.3
155.6
155.9

1,159.9
1,160.2
1,160.5

59.2
67.3
70.5

156.2
156.2
156. li

1,160.7
1,160.7
1,161.0

71.8
7lt.O

72.9

157.2

The figures in this column are not cumulative; es the amount of
bullion held changes, the potential seigniorage thereon changes.

April i95S

55

_ CAPITAL

MOVOffiNTS.

Data relating to capital moveraenta between the
United States and foreign countries have been collected
since 1935, pursuant to Executive Order 6560 of January I5,
igjl*, Executive Order IOO33 of February 8, 19^9, and
Treasury regulations promulgated thereunder. Information
covering the principal types of data and the principal
countries Is reported monthly, and Is published regularly

pages

14^5-1*7.
As a result of changes In presentation
Introduced In that Issue, not all breakdowns previously

published will be exactly comparable to those now presented.

The first three sections which follow are published

monthly.

They provide summaries, by periods and by
countries, of data on short-term banking liabilities to
and claims on foreigners and transactions In long-term

In the "Treasury Bulletin."
Supplementary Information Is
published at less frequent Intervale. Reports by banks,
bankers, securities brokers and dealers, and Industrial

securities by foreigners, and present detailed breakdowns
of the latest available preliminary data.

and commercial concerns In the United States are made
Initially to tie Federal Reserve Banks, which forward
consolidated figures to the Treasury. Beginning April 195'*i
data reported by banks In the Territories and posaesslons
of the United States are Included In the published data.

Section IV provides supplementary data In five tables
which appear at less frequent Intervals. Table 1, shortterm foreign liabilities and claims reported by nonflnanclal concerns. Is published quarterly In the January,
April, July, and October Issues of the Bulletin.

The term "foreigner" as used In these reports covers
all Institutions and Individuals domiciled outside the
United States and Its Territories and possessions, the
official Institutions of foreign countries, wherever
such Institutions may be located, and International
"Short-term" refers to original maturities
organizations.
of one year or less, and "long-term" refers to all other
maturities.
A detailed discussion of the reporting
coverage, statistical presentation, and definitions
appeared In the June V)'y^ Issue of the "Treasury Bulletin,

"

and debit balances In brokerage accounts, appears semiannually In the March and September Issues. Table 5,
short-term liabilities to foreigners In countries and
areas not regularly reported separately by banking Institutions,

Is presented annually In the April Issue.

(Id millions of dollara; nggatlTe flguroe indicate a net outflow of capital from the United States)
Analjrsls of net capital movement

Changes in liabilities to foreigners
Short-term

2,

and dollar holdings of foreign countries and International
Institutions, are published quarterly In the March, June,
September, and December Issues. Table k, foreign credit

Section I - Summary by Periods
Table 1.- Net Capital Movement between the United States and Foreign Countries

Set
capital
noTenent

Table

long-term foreign liabilities and claims reported by
banks and bankers, and Table 3, estimated gold reserves

Treasury Bulletin

56

.CAPITAL MOVBffiliTS.

Section I - Sumnary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(fcaltlop at end of p«rtod In mllllom of dolltfa)
^ort-t«T» lltbtlltlea to for«lgn«rB

Sbort-teiv elalaa on forelgnera

Fatyable In dollar*

Pa/able In dollars
Pajalile In

foreign
currenolea

Otbar
foreign
19*2
19*3
19**
19*5
19*6

k,205.*
5,37*.
5,596.8
6,883.1
6,*80.3

2,2**.*
3,320.3
3,335.2
*,179.3
3,0*3.9

1,9*7.1
2,036.7
2,239.9
2,678.8
2,9e2.0

19*7
19*8
19*9
1950
1951

7,116.*
7,718.0
7,618.0

1,832.1
2,836.3
2,908.1
3,620.3
3,5*7.6

2,972.7
2,9*7.0
3,001.0
3,*51.7
*, 0*1.2

2,262.0

1952
1953
195*
1955
1956
1957 P

3,5*6.1
1,6*8.*
2,918.6
3,600.7
3,128.1

*,65*.2
5,666.9
6,770.1
6,952.8
8,0*5.*
7,893.0

*,2*5.6
*,308.*
*,335.*
*,726.5
,
5,392.8 1/
5,559.0 1/

1957-JuU

1,810.1
1,902.*
1,8*8.0

7,807.6
7,626.6
7,6*3.8

),269.7
),1*8.3

8,6U.8
9,302.2

Al^UBt. ...
Septemtier

October. .
November p.
December p

1958-January p

1/

^939.1

i,

128.1

Loena to
foreign benke

13.9
17.9
21.6
25.5
*0.6

2*6.7
257.9
329.7
396.8
7S8.3

72.0
86.*
105.*
100.3
319.6

2*5.0
290.5

*9.7
70.*
51.0
**.9
72.2

9*8.9
1,018.7
867.9

292.9
361.2
222.7
151.1
177.2

*90.6
557.1
*9*.3
506.3
699.*

1,58*.9
1,629.*
1,769.9
1,881.1
1,*52.1
1,517.3

61.*
*3.7
*3.2
*0.3

1,0*8.7

122.9
156.5
206.5
328.1
*05.*
*05.5

8*7.5
6*6.5
969.0
1,056.5
1,390.8
1,691.5

5,393.5
5,57* .2
5,619.3

1,5*5.3
1,635.*
1,512.2

63.7
66.3
72.7

*26.0
*28.7
*06.6

1,537.1
1,576.1
1,597.7

7,93*.*
7,795.1
7,893.0

5,756.1
5,757.1
5,659.0

1,516.5
1,538.*
1,517.3

62.6
57.8
58.9

*1*.6
388.9
*05.5

1,668.7
1,682.3
1,691.5

7,998.5

5,636.2

1,618.8

*9.0

*73.7
1,86*.3
1,657.8
1,527.8
1,6*1.1

Beglnnljig In August 1956 and again In April 1957, certain acco^zita
previously classified as "Other foreign" are Included In "Foreign official."

*8.8
58.9

p

^8.0
968.*
90*.

1,386.5
1,5*8.5
1,9*5.7
2, 2** .2
a, 13*.

2,160.2
2,l6l.O

2,259.1
2,203.7
2, 2** .2

1*3.7
137.2
169.7

1,782.5

Frellmlnary.

Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In mlllloiu of dollarsj negative figure* indicate a net outflow of capital from the United Statea)

April

ms

57

.CAPITAL MOVBffiNTS.

Section I - Summary by Periods
table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners

Treasury Bulletin

5«
.CAPITAL MOVBffiSTS.

Section II - Summary by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners
(FoaltloQ at end of period In mllllona of dolLarg)

*/

April

ms

59

.CAPITAL MOTTEMENTS.

Section

II -

Summary by Countries

Table 2.- Short-Term Banking Claims on Foreigners
(Poaltion at end of period In mllllona of dollarB)

60

Treasury Bulletin
.CAPITAL MDVBfflHTS.

Section II - SuiMary by Countries
Table 3.- Net Transactions In Long-Term Doaestlc Securities by Foreigners
(in thouaanda of dollars; negative flgurea Indicate nat aalea by foreigners or a net outflow of capital froa the Uilted States)

Calendar year

1957
Ai^uflt

Europe I
Austria
Belglun
Czechoalovakla
Deiaark
Finland

1,813
-581

France
Geraany, Federal Republic of.
Greece
Italy
Netherlands
Morway
Poland
Portugal
Punanla
Spain

-2,903
13,311

2

-22

1,800
963

393
1,582

-1.1,668

16,992

183

-llt8

21

-101
-616

-i.81

-21,319
-lt,5li2

-28
-98
1,923

-1,685
8,761

8u

9,886
1

-1,196
-59

-702
-37

6,596
-511.

,339

-1.2 ,1.27

39,l.l6r

l,l.6U

^7,580

37,977

26,l.03r

-3''

,

39

6

37

2,261

1,603

l.,U9l.

-925

Turlcey

O.S.S.R
united Klngda

1,293
120
36

706
179

-1,256
762

U6
-152
-863
3,31.2

505

1.31

-331.

21.6

31
17,060

135
-2,150

-Ik

663

-651

-521

-287

-1,001>

-1.7

57,086

73,''02

1,H6

1117, '•87
3I16

233,939

-Its

8,205
98,098r

6,060
-20,773

-5

-8

Yteoslavla..
Other Europe.

71,258

69,766

-lU

-l81t

82,26lr
-165

23,116

Total Europe
Canada
Latin Aiaerlca:
Argentina.
Bolivia...
Brazil
Chile
Colombia.

62,323

136,928

329,117

-120,617

187,195

26l»,825

1,138

-938
202
^13
1,979

930
108
1,110
3,782

U9
638

1,U5

Cuba
Dominican Republic .
Guatemala
Mexico
Setherlanda W. Indies
Surinam
.

91.

-36

-1.21.

253
-112
108

2,260

1,1.60

1,691.

265
-1,267
62U

9,087
778

2,128

3,Ol4i

Total Latin America.

2lt,859

-11.1
I.,

-29

69
-1U8

1,190

3,903

5,759

3,016

-1,789
670
-57

257

3,721.

I.,l85

3,769

1,1.83

52Ur

1.8

1,11.3

87

51.2

71.7

UU8

-1,385

-2,130

758
210

-279

65I.

-1,963

121.

7,1.1.5

-261.

76,166

33,859

5,300
789

5,521.

219
-2,519

-I.0U

U9

-1.53

-71.8

8,025

-605
-81

723

-3,137

-157
I9B
669

-23

963
1,292

-9,088r

13,339
-119
-uo
3,61.9

-12,980

-17,1.36

-12U

53,677

6,1*03

-6

1.92

-l>7li

801.

1,091

1,832

81t,255

Panama, Republic of.
Peru
El Salvador
Uruguay
Venezuela
Other Latin America.

2,309

-26
-627

3,066

-1,519

-53

-1,078

-1,657
-6,7621

19,385
-1,029
-1,170

866

9,7l6r

Asia:

China Mainland
Hong Kong
India
Indonesia
Iran
Israel
Japan
Korea, Republic of.
ftilllpplnes

Taiwan

(

Formoea ) .

.

-153

-1.01.

-1,U32
lUl
-U9
-57

5,393

15,11.0

-111,777

-1.1

20

117

91.

-91.

-550
1,063

-785

706
1,096

-181

31.3

1/
-179
853
-180
877

21.

153

1,751
1/

8

15

-1,079

151.

207

-1.20

91.5

-1.38

85

-1,691.

2
-756
J.93

-11.1

251.

151.

51.5

758

l.,857

6,01.8

9,576

Total Asia

l.,U25

Other countries:

Australia
Belgian Congo
Kgypt
ttilon of South Africa.
All other

168
-20
123
-903
-222

Total other countries.
International

Grand Total

210

31*9

32
128

-213

51.1

287

UUl

2,326

it.llU

3,11.9

157,1.20

3,225

6,561.

22, 71*1

77,730

-20,561

81,71.5

-11,513

11.9,318

685,232

156,351

Roveaber p

099

-U61.

81.3

^

:-36l

Sveden
Switzerland..

9,506r
3,018
61

-6,89U
17,695

1.22

October

288

768
25,355
118

•120,635

Septanber

1,166
1,11.5
11.1,1.20

11.0,853

Deceaber p

April i95S

61

.CAPITAL MOVEMENTS.

Section II - Summary by Countries
Table 4.- Net Transactions in Long-Term Foreign Securities by Foreigners
(In thoueanda of dollars; negative figures Indicate net aales ty forelgnere or a net outflow of
capital from the United State;

Calendar year

Austria
Belgium
Czechoalovaila.

3,056
7,21U
12,00li

Finland.

France
Germany, Federal Republic of,,
Greece
Italy
Netherlands

Norway
Poland . .
Portugal
Rumania .
Spain....
.

.

Sweden
Switzerland.
Turkey
U.S.S.R
United Klngdoi

Yugoslavia. ,
Other Europe

Total Europe.

2U7

as,??"*

1,179
-It, 670

1,280
1,351
3,991
-6,091

-81»,81H

2,0ll8

10,337

-17
286
-73

207
282

-1.87

37,3*
-18

33,620
-197

37,051

-9,1(63

-1

121
2,807

1,131

96,259

Canada
Latin America;
Argentina
Bolivia..
Brazil...
Chile . .
Colombia.
.

Cuba
Dominican Republic . .
Guatemala
Mexico
Netherlands W. Indies
Surinam
Panama, Republic of.
Peru
El Salvador
l&njiguay

501

-292

5lt

77

7,189
1,562

5,5''0

51

1,21.5

-323

3,089
-1,007
127

5,311
211

5,35''

6,031

-351

515

U35

5,065

1,322
129
2,753

3I4O

2,137
1,633
U96

-lt30

Venez uela
Other Latin America.

6,299

117
12,179

Total Latin America.

3'', 599

32,760

Asia;
China Mainland.
Hong Ecng
India
Indonesia
Iran

353

2,358
lUO

-38,172

Japan
Korea, Republic of.
Philippines
Taiwan ( Formosa) . .

11,038

Total other countrlea
International

-181.

-39,992
6,232

1/
281

Total Asia...
Other countries
Australia
Belgian Congo
Egypt
union of South Africa.
All other

2,159

136
25

-314,11*9

11,01.2
3

60

16
-5,107

-5,61.7

l*,956

1,722

7,810

Treasury Bulletin

62
.CAPITAL MOVEMENTS.

Section III - Preliminary Details by Countries
Table 1.- Short-Terra Banking Liabilities to Foreigners as of February 28, 1958
(Foeltlon in ttaoasanda of dollaisj

1/

Part of United Arab Republic (including Egypt and Syria) since
February 1958. Data on llabilitiee to Syria are reported
annually, and appear in Section IV, Table 5.

April

mn

63

.CAPITAL MOVIMEHTS.

Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of January 31, 1958
(Foaltloa Is tkoosuda of iollan)
olalaa payabla la forstgn

Short-tarn olalaa payabla In dollar*
Collaotlons
outataadlng
for ovn
account and
dcnaetic
eustnaara

Foral^
banks and
official
Inatltotloai

Dapoalta of
rsportlng
doaaatlo
oustonara with
foralgnajra

Xurop*:
Atietrla

Balgloi
CteohMlorakla.

riBlaad
Traxc*
Otrmaaj, T»i»r*X RepaUlc of.
Gr«ao«
Italy

6,8U7
36,091

6,81.6

eel.

35,1.77

509
328
138

332

332

9, '•52
1»,272

9,358
'.,272

11.5

110,093

108,867

1.61.9

135. 93'*

127,1.15
5.1.38

11..073

5, '•61

•tbarlaads

52,509
27.812

lonay
Poind

23,276
3,646

52,279
27,

2,759
2,708
130
i.,i.l9

W6

8,263

67
252

Portugal

Ruunla
Spals

Smdan
sntzarland.

.

,

Turk«7
D.S.SJt
Oil tad Eli«doa.
TugoslaiTla

Othar Suropa

.

.

22,I(I<7

21,981

11, l?"*
31, '•18

76,721

10,699
26,956
76,716

110,it33

39,839

6,503
2,533

7,916
21,171
4,105
9,700
13,469

96.543
89,463
1,157
19,334
3.071

1,793
3,102
1,600

11,803
292

13,452
571.

7,603
72,986

3,498
3,719

5.166
1.762

1,317

550
U,8l9

21U
2,325

Canada

2,680
1,505

28,91.8

56,337

29,362
15,780
20,182

13,373

336
1,218

17,677

Latin Aaerloai
Argantlna.
BollTia. .
Brat 11

26,026

26,006

3,353
111,051

3,353
110,763

i>6,290

Coloabla.

107,012

U6,290
107,009

Cuba
Ooalnican Sapulillc
Qnataaala
Nazlco
•therlanda Ve«t ladiaa & Surlnia..

129.529
16,871
8,629
228,769
2,318

129,288
16,871
8,629
226,063
2,318

19,339
31.. 689
9,358
51,888
l69,6ol<

19,328
596
9,357
51,871
166,136

53,191

52,1106

Clille

Panaaa, BspnUlo of

Para
El Salrador

Qmguay
Tansiiaala

Other Latin Aaarloa

31.,

Total Latin Aasrloa
China Maloland.
Hcng Koog
India
Indonesia
Iran

Israel
Japan
Xorea, Republic of.
Pblllpplnea
Taiwan (Fomosa)..,

Total Asia.

2,519
7,801.

9,858
6,836
18.820
Ull
1,031.
1.3

,

003

835
14,691.
l.,627

9,378
3,093
25,641
10,056
29,773
14,659
2,536
6,676
22,723
1,445

6,251
84

42,387
10,596
50.218
11.716
11,026
804
114,571

21,876
2,787

3,537
18,118
3,517
1,586
57,279
23,431

4,474
5,067
18,820
44,217
8,102

265,678

233,448

329,445

7,377
188
27,61.7

2,519
2,928

2,712
5,897

6,731.

175
23, '•76

23, '•57

173

22,lt9U

22,1.91.

3,772

151,81.1.

151,81.2

22,51.9

1,675
53,816

1,675
53,799
5.6U6

87
53,088
5,576

13,OU5

13,01.5

110, U38

110,252

8,918
96,950

399,1.1.2

196,911

5,61.6

.

1,237
9,557

15,948
101,896

66,606

Other countries
Australia
Belgian Congo

12,896

12,086

5,170
4,982

5,51.6

5,51.5

Egypt
union of South Africa
All other

81.0

U50

9,230
16,876

9,120
15,591

513

Total other countries

1.5, 1.60

"•3,182

2,286,976

2,11.9,753

1,158

l',729

8,320

26,578

iBtanational
6U1,900

5,781
341

363
7,743

1,384

64

Treasury Bulletin
.CAPITAL MOVEMENTS.

Section III - Preliminary Details by Countries
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners during January 1958
(

Is tfaousandB of dollars

Purcba«»e by far«l0Q«r«
Doaestlc securltla

Salea b/ forelgiwra

Fox^lgQ aecurl^tle

Dcaastlc aaourltlaa

U.S.

Foral^s aacurltlaa

U.S.

Total
purchaaaa GOTermeat
boDde and
not«a

BondB

Goranuaent
bonda end
notaa

Stocka

Eurofa:
Auatrla
Belgium
Ozochoalorakla.
Dannark
Flnlaoi

731.

3,297

Franca
Faderal Republic of.
Greece
Italy
Netberlanda

Gammy,

'',635

583

158
391

1,203

2,1U3
5,279

13,883
918

U36
1,992

Honray
Poland
Portugal

IU9

5,761
191.

23,273
30,256

3.077

29 798
,

56

Spain

151.

Svadan
Svltxerland.
Turkey
U.S.S.P
Uilted Elngda

2,065
k0,527

i»,013

62,223

36,165

977

52
20,3lt6
12

Yugoslarla.
Other Europe

3,950

ll',952

25,1.05

6,205

6

1,276

l,17'i

23
15,51.1

1U,61.9

.

Total Europe.

12,1.31

22
819

8,706
3,169

18,885

Latin AaerlOi

^gantlna.
BollTla.
Brazil
Chile

..

1,270
292
119

Coloooabla..

Cuba
fioalnlcan Bepublle
Guatemala
Mexico
Nether lande W. Indlea
Panama, Republic of

Peru
El Salvador
Uruguay
TeneEuela
Other Latin Aaarlca
Total Latin America

China Mainland.
Hong Kong
India
Indoneala
Iran

I*,
8:

Surinam
,

,

22
388

33

1,''T7

1.88

1,353
587

l.,6Uii

2,738

2,51.6

58
36

36

197

53
1,091.

2,272
633

219
25

1,1.99

207

1,191
.53

21,991

10,683

71.

71.

3,379

1,3'.9

1,892

330
5,81.2

9,899

1,832

1,565

laraal
Korea, Republic of.
Philippines
Taiwan (Formoaa)...

2,761

2,U01

Total Asia

2,81.6

275

11,521

1,707

Other countries:
Australia
,
Belgian Congo
Egypt
Ublon of South Africa.
All other

U05

lit, 1.29

57't

15

Total other countries.

IntamatioDal
Grand total

lU,l.6l

16,319
636

269,826

65,1.30

178,599
39,91.8

28,105

1.0,000

28,975

April

ms
.CAPITAL MOVOIENTS.

Section IV - Supplementary Data by Countries
Table 1.- aiort-Term Liabllltlee to and Claims on Foreigners Reported by Nonflnanclal Concerns
(Position at eoi of period In thouoands of dollars)

i/

66

Treasury' Bulletin
.CAPITAL MOVEMENTS.

Section IV - Supplementary Data by Countries
Table 5.- Short-Term Liabilities to Foreigners In Countries and Areas
not Regularly Reported Separately by Banks and Bankers ^
(Position at end of calendar year In thoueanda of dollars)

Albania
British dependencies
Bulgaria
Eastern Gennany
Estonia

192
579
6lU
1,237
1,686

381
371
680
1,319
1,788

Hungary
Iceland
Ireland, Republic of.
Latvia
Lithuania

1,001
8,877

1,022

786

•672

I»,81i7

l'*,313

13,7'>5

3,127
9,079

Luxembourg
Monaco
IVleste....

Honduras .
Nicaragua.
Paraguay..

1,012

61.8

3,09lt

13,188

16,382

5,322

5,593
1,387

l.,287

5,1*17

1,1.20

1,175

2,211

19,035
15,313
21,236
392
12,70U
17,33't

10,282
3,579

5,083
576
9,781
29,68-'

197
18,775
10,032
755
10,708
120

Lebanon
Nepal
Pakistan
Portuguese dependencies
Byukyu Islands

I6,5lt6

Saudi Arabia.
Syria 2/
Vietnam

1,766
26,85l<
61,1. 71*

21,539
8,lltO

Other countries"
British dependencies
Ethiopia (Including Eritrea).
French dependencies
Liberia
Libya

Morocco
Morocco (excluding Tan
Tangier
New ^aland
Portuguese dependencies.
Spanish dependencies....
Sudan
Tunisia

l,7't9

1,039
U97

Ceylon.
Iraq.
Jordan
Kuwait
Laos,.
.

109
253

li,U86

Other Asia"
Afghanistan
Bahrein Islands....
British dependencle
Burma
Cambodia

182
1,222
1,889

2,922
n.a.
528
508

28lt

"Other Latin America"

British dependencies
Coata Flea
Ecuador
FVench West Indies and French Guiana.
Haiti

326
361*

l,ltli6

18,016
8,719
5,622
1,707

7,6U2
35,7116

2,338
8,300
520
I130

The data In this table are based on annual reports from banks and bankers
In the Second (New York) Federal Beserve District only, and Include funds
held In an account with the U. S. Treasury. Area totals will not a^ee
with those shown for the corresponding dates for "Other Europe,"
"Other Latin America," "Other Asia," and "Other Countries," In the
regular monthly series In the "Treasury Bulletin." Countries have
been omitted or grouped to avoid revealing individual accounts or

16,623

April

ms

67

.CORPORAnONS AHD CERTAIN OTHER BUSIHESS-TYPE ACTIVITIES.

The financial statements of corporations and certain

Four kinds of financial statements are called for by

other buslnees-type activities of the United 3tatee Oovern-

Department Circular No. 966. They are statements of
financial condition, income and expense, source and

ment v^lcb appear in the "Treasury Bulletin" beginning with
the August 1956 Issue are compiled from reports submitted

application of funds, and certain commitments and oontln-

to the Treasury under Department Circular No. 966, issued
January 30, 1956,and Supplement No. 1, Issued June 1, 1956.

genciei.

The regulations so Issued are pursuant to Section ll'^ of
the Budget and Accounting Procedures Act of 1950(31 U.S. C.
66 b), and represent another step In the program of com-

of financial condition are published quarterly and appear

prehensive and Integrated Qovernment accounting and financial reporting for which authority was provided in that
act.
They supersede Budget-Treasury Regulation No. 3,
issued under Executive Order No. 8512 of August 13, 19^0,
as amended by Executive Order No.

90S')-

of March 3,

igkZ.

In coverage, Department Circular No. 966 requires
submission of financial statements by all wholly owned
and mixed-ownership Government corporations specifically
Included in the Oovernment Corporation Control Act, aa

amended ( 31 U.S.C. S46, S56); and all other activities
of the Government operating as revolving funds for which
business-type public enterprise or intragovernmental fund
budgets are required by the Bureau of the Budget.

Other
activities and agencies whose operations, services, or
functions are largely self-liquidating or primarily of
a revenue-producing nature, and aotlvitlee and agencies
whose operations result in the accumulation of substantial

inventories,

Investments and other recoverable assets,

may be brought under the regulations as agency accounting
systems are developed to the point where they are capable
of furnishing the financial reports required.

All of the financial statements required by

the Circular are presented In the Bulletin.

The statements

The first data under
the new regulations are for March 3I. 195^, *nd were
presented in the August 1956 Bulletin. Statements of
income and expense and source and application of funds
as Section I in the series of tables.

are published semiannually, and appear as Sections II and

The first of these statements under the new regulations cover the fiscal year 1956, and were published in
the January 1957 Bulletin.
Certain commitments and

III.

contingencies will be added on a semiannual basis for a
subsequent date. Within the sections, the agencies are
public
grouped in separate tables by type, as follows:
enterprise funds, intragovernmental funds, certain other
aotlvitlee, deposit funds, and trust revolving funds.

Supplement No. 1 added to the coverage by includiog
all executive agencies and activities not reporting under

Department Circular No. 966, but required only a statement
of financial condition annually as of June 30.
These are

mainly not business- type activities, and those which had
not yet developed formal accounting procedures to provide
balance sheet statements were authorized temporarily to
report only the asset side. The first comprehensive reporting under Supplement No. 1 is for June 30, 1957, and
the data were published in the December 1957 issue of the
Bulletin as Part B of Table 4 in Section I,

6S

Treasury Bulletin
.COEPORATIONS AND CERTAIN OTHER BUSINESS-TSPE

Section

AC'X iVi i'IES.
'

'

I - Statements of Financial Condition, December 31, 1957
Table !.- Summary for Specified Classes of Activities
(In thousands of dollars)

Account

April

ms
.

COEPORAnONS AKD CEBTAIH OTHER BUSINESS-TYPE

Section

I

-

JU? ! '! V

I'I'I

h

S

Statements of Financial Condition, December 31, 1957
Table 2.- Public ^iterprise Revolving Funds
(In thousands of dollars)

International
Cooperation
Administration

Atomic
Energy
Commlssio

Foreign
investment
guaranty
fund

Defense
production
guarantees

Export-Import Bank of Washington

Regular
lending
activiti

Liquidation
certain Rec(
struction
Finance Corpora
tion assets

Expansion
of defense
production

ASSETS
Cash in banks, on hand, and in transit.
Fund balances with the U, S. Treasury..
Investments:
Public debt securities {par value)
Securities of Government enterprises.
Unamortized premium, or discount (-).
Other securities (net)
Advances to contractors and agents:
Government agencies
Other
Accounts and notes receivable:
Government agencies
Other (net)
Inventories
Allowance for losses (-)
Accrued interest receivable:
On public debt securities
On securities of Government enterprist
Other
Loans receivable:
Government agencies
Other
Allowance for losses (-)
Acquired securit;,- or collateral (net)..
Land, structures, and equipment
Accumulated depreciation (-)
Other assets (net)

Total assets

160,090
1,153,025
791, UO
55,759

-4,807

H3,318
1,520
60,425

3,067,123
423,461
6,423,891
-2,425,111

2,974
1,535
56,914

8,866,490
-186,390
168,180
4,181,493
-892,527
742,212

2,984,542 2/

22,790,716

LIABILITIES
Accounts payable:
Government agencies
Other
Accrued liabilities:
Government agencies
Other
Advances from:
Government agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds , debentures and notes payable:
Government agencies

94,L27
424,282
52,191
125,862

10,223
53,432

,

Other:

Guaranteed by the Dnited States
Not guaranteed by the United States,
Other liabilities (including reserves)..

48,596
1,372,477
648 .471

50.928 2/

Total liabilities

51,626

NKT INVESTMENT
United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S. Treasury...
Other
Noninterest-bearing investment:
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumulated net income , or deficit (- )
Deposits of general and special fund

124,801
17,868,416
540,943

1,437,300

1,094,200
5,587,381
1,218,771
-1,012,015
-5,521,478

Total United States interest

1,000,000

475 ,617

2,279

2,962,917

Total liabilities and investment

3,014,543

ANALYSIS OF UNITED STATES INVESn<ENT
United States investment
Accumulated net income, or deficit (-)...

25,422,498
-5,521,478

Total United States investment including
interagency items
Interagency items:
Due from. Government agencies (-)
Due to Government agencies

-3,125,937
215.967

Total United States investment after
exclusion of interagency items

Footnotes at end of Table

7.

2,279

381

(Continued on following page)

34,423

22,279

34.474

2,487,300
475,617

31.976
2,447

2,962,917

34,423

2,962.968

22,179

34.424

Treasury Bulletin

70
.

COEPORATIOHS AND CERTAIN OTHER BUSINESS-TYPE

Section

A/"riVi'i'lES.

I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)
(In thousands of dollars)

April

ms
.COEPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES,

Section I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)
(In thousands of dollara)

Small Business Administratio

Small
defense
plants
activities 6/

Reconstructio
Finance
Corporation
liquidation
fund

ASSETS
Cash in banks , on hand, and in transit.
Fund balances ith the U. S. Treasury..
Investments:
Public debt securities (par value)...,..
Securities of Government enterprises....
Unamortized premium, or discount (-)....
Other securities (net)
Advances to contractors and agents:
Government agencies
Other
Accounts and notes receivable:
Government agencies
Other (net)
Inventories
Allowance for losses (-)
Accrued interest receivable:
On public debt seciarities
On seciirities of Government enterprises.
Other
Loans receivable:
Government agencies
Other
Allowance for losses (-)
Acquired security or collateral (net)
Land, structures, and equipment
Accumulated depreciation (-)
Other assets (net)
'

185, 82^;

-5,921
397

3,8^6

Total

LUBILITIES
Accounts payable:
Government agencies
Other
Accrued liabilities:
Government agencies
Other
Advances from:
Government agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds, debentures, and notes payable:
Government agencies
Other:

Guaranteed by the United States
Not guaranteed by the United States.
Other liabilities (including reserves)..
Total liabilities

NET INVESTMENT

United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S. Treasury,.
Other
Npnlnterest-bearing investment:
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumulated net income, or deficit (-).
Deposits of general and special fund
revenues (- j

178,^68

HI, 532
-17,^35

Total United States interest

302,565

Total liabilities and investment

306,361

17,121

Tennessee
Valley
Authority

72

Treasury Bulletin
.

COEPORAnOHS AND CEETAIB OTHER BUSUCESS-TYEE ACTIVmES.

Section

I

-

Statements of Financial Condition, December 31. 19?7

Table 2.- Public Enterprise Revolving Funds
(In thousands of dollars)

(Continued)

April

mn
.

COHPOBATIONS AND CEBTAUl OTHER BUSHraSS-TTEE

/UTl'l

V|'I'|ER

Section I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolylng Funds - (Continued)
(In thousands of dollars)

7^

Treasury Bulletin
.CORPORATIONS AND CERTAIH OTHER BUSIKESS-TYPE ACTIYTPIES.
I - Statements of Financial Condition,
December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)

Section

(In thousands of dollars)

April 19JH
.

COEPORATIONS AMD CERTAIH OTHEE BUSmESS-TYPE

JUT I'

I

V l'

1

'l

yi

l.

Section I - Statements of Financial Condition, December 31, 1057
Table 2.- Public Enterprise Revolving Funds - (Continued!
(In thousands of dollars)

Treasury Bulletin

76

.CORPORATIONS AMD CERTAIN OTHER BOSINESS-TYFE ACTIVITIES.
I - Statements of Financial Condition, December 31, 1957
Table 2,- Public Enterprise Revolving Funds - (Continued)

Section

(In thouaands of dollars)

Defense Department

Commerce Department
Maritime activities

Federal ship
mortgage
insurance
fund

Inland

operations
revolving
fund

insurance
revolving
fund

Waterways
Corporatio

Defense
production
guarantees

Air Force
Department
Defense
production
guarantees

ASSETS
1,8^5

Cash in banks » on hand* ana in transit.
Fund balances with the U. S. Treasury..
Investments:
Public debt securities (par value)...
Securities of Government enterprises.
Unamortized premium* or discount (-).
Other securities (net)
Advances to contractors and agents:
Government agencies
Other
Accounts and notes receivable:
Government agencies
Other (net)
Inventories
Allowance for losses (-)
Accrued interest receivable:
On public debt securities
On securities of Government enterpris
Other
Loans receivable:
Government agencies
Other
Allowance for losses (-)
Acquired security or collateral (net)..
Land, stinictures* and equipment
Accumulated depreciation (-)
Other assets (net)

U,lll

5,322

1,219
l,10i
5,907

Total assets

LUBILITIES
Accounts payable:
Government agencies
Othe

Accrued liabilities:
Government agencies
Other
Advances from:
Government agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds, debentures, and notes payable:
Government agencies
Other:
Guaranteed by the United States...
Not guaranteed by the United State
Other liabilities (including reserves)
Total liabilities

135

7^1

3.U7
3,U7 i/

NET INVESTMENT

United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S. Treasury...
Other
Noninterest-bearing investment:
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumulated net income, or deficit (-).
Deposits of general and special fund

15 ,000

12,298

-15,039

and

stment.

12,259

13,781

Total United States interest
Total liabilitie

A, 262

ANALYSIS OF UNITED STATES INVESTMENT
United States investment
Accumulated net income, or deficit (-)...
Total United States investment including
interagency items
Interagency items:
Due from Government agencies (-)
Due to Government agencies
Total United States investment after
exclusion of interagency items

Footnotes at end of Table

7.

10,596

27,298
-15,039

-1,219
1,563
19,125

A85

(Continued on following page)

12,262

10,596

Army
Department

April 1958

77
.

coHPORAncars amd certain othes busimess-tyee a:;tt7ities.

Section

I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)
(In thousands of dollars)

Treasury Bulletin

78

.

CORPORATIQHfS AHD CERTAIN OTHER BUSIHESS-TTtEE ACi'iVi'i'iES.

Section I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)
{In thousands of dollars)

April /95,S
.

COEPOHAnORS AHD CERTAIN OTHES BOSHtESS-TYEE ACnVITIES.

Section I - Statements of Financial Condition, December 31, 1957
Table 2.- Public Enterprise Revolving Funds - (Continued)
(In thousands of dollars)

Treasury Bulletin

20
.

COHPOBATIOKS AND CERTAIH OTHEE BUSUIBSS-TTHE ACTIVITIES.

Section

I

-

Statements of Financial Condition, December 31, 1957
Table 3.- Intragovernmental Revolving Funds
(In thousands of dollars)

April

ms
.CORPORATIONS AKD CERTAIH OTHER BUSINESS-TYPE ACTIVITIES.

Section I - Statements of Financial Condition, December 31, 1957
Table 3.- Intragovernmental Revolving Funds - (Continued)
(In thousands of dollars)

82

Treasury Bulletin
.

COEPORATICaiS AMD CERTAIN OTHER BUSIHESS-TYPE ACTIVITIES.

Section

I - Statements of Financial Condition,
December 31, 1957
Table 3.- Intragovernmental Revolving Funds - (Continued)
{In thousands of dollars)

April /9J,S

S3
.

COKPORATIORS AHD CERTAIN OTHER BUSINESS-TYPE ACnVITIES.

Section I - Statements of Financial Condition, December 31, 1057
Table 3.- Intragovernmental Revolving Funds - (Continued)
(In thousands of dollars)

S4

Treasury Bulletin
.

COBFOBATIOnS AND CERTAXR OTHER BOSCTESS-TYPE ADTiViTJJSS.

Section

I

-

Statements of Financial Condition,

December 31, 1957

Table 4.- Certain Other Activities
{In thousands of dollars)

April

ms
.

CORPORATIORS AND CERTAIll OTHKR BUSINESS-TXPE ACriViTiES.

Section

I - Statements of Financial Condition, December 31, 1957
Table 4.- Certain Other Activities - (Continued)
(In thousands of dollars)

S6

Treasury Bulletin
.

Section

CORPORATIQRS AMD CERTAIN OTHEK BUSIMESS-TtEE ACTIVITIES.
I - Statements of Financial Condition, December 31, 1957
Table 4.- Certain Other Activities - (Continued)
(In thousanda of dollara)

April

mn

87
.

Section

CORPORATIONS AHD CERTAIN OTHER BUSINESS-TYEE ACTIVITIES.
I

- Statements of FLnanclal Condition, December 31, 1957
Table 4.- Certain Other Activities - (Continued)
{In thousands of dollars)

Treasury Bulletin
.CORPORAnC»S AMD CERTAIB OTHER BOSmESS-TTPE J^CTIYITIBS.

Section

I

-

Statements of Financial Condition, December 31, 1957
Table 5.- Certain Deposit Funds
(In thousands of dollars)

April i9J,S
.corporahons akd certaiw othee BOsmEss-TYEE tcnrrrrEs.

Section

I

Statements of Financial Condition, December 31, 1957
Table 6.- Certain Trust Revolving Funds
(In thousande of dollars)

90
nnpp

April i9J<S

91

.CORPORATIONS AHD CERTAIN OTHKR BUSIKESS-TYFE ACTIVITIES.

Section I - Statements of Financial CondltloHt December 31, 1957
Table 7.- Gross Loans Outstanding, Excluding Interagency Loanst Classified by Type of Lioan
(In thousands of dollars)

Public eoterprie
revolving funda

Type of loan and lending agency

Certain other activities

To aid agriculture:

Loans to cooperative associations:
Farmers' Home Administration
Rural Electrification Administration
Crop, ]J.vestock, and commodity loans:
Commodity Credit Corporation
Disaster loans, etc., revolving fund
Farmers Home Administration
Virgin Islands Corporation
Storage facility and equipment loans:
Commodity Credit Corporation
Farm mortgage loans:
Farmers Home Administration
Farm tenant mortgage insurance fund
Guaranteed loans held by lending agencies:
Commodity Credit Corporation
Other loans:
Farmers Home Administration

9,941
2,687,585

9,941
2,687,585

1,U5,806
79,469
8,331

•

'

1,445,806
79,469

8,331

21,750

21,750

329,038
18,991

18,991

310, 5U 1/

329,038

310, 5U 1/

353,699

'

Total to aid agriculture

5.265,163

1,876,5''0

2,289,913
72,174

2,289,913
72,174

638,922
4,108

638,922

To aid home ovmers;

Mortgage loans:
Federal National Mortgage Association:
Management and liquidating functions
Special assistance functions
Housing and Home Finance Administrator:
Liquidating programs
VeterEins' Administration;
Direct loans to veterans and reserves
Loan guaranty program
Other loans:
Veterans Administration:
Direct loans to veterans and reserves
Loan guaranty program

1,0U
4,108

'

Total to aid home owners

,

,

1,512
125,135

3,132,779

,

3,003,536

129,243

To aid industry:

Loans to railroads:
Expansion of defense production:
Treasury Department
Other purposes:
Treasury Department:
Miscellaneous loans and certain other assets.
Reconstruction Finance Corporation liquidatioi
fund
Ship mortgage loans:
Commerce Department:
Federal ship mortgage insurance fund
Maritime activities
Other loans:
Expansion of defense production:
Interior Department
Treasury Department
Defense production guarantees:
Air Force Department
Army Department
Navy Department
Other purposes:
Army Department:
Guaranteed loans - World War II
Housing and Home Finance Administrator:
Liquidating programs
Inland Waterways Corporation
Interior Department:
Bureau of Commercial Fisheries:
Fisheries loan fund
Small Business Administration:
Revolving fund (lending operations)
Reconstruction Fljmnce Corporation liquidatio
,

Smaller War Plants Corporation (in liquidation)
Treasury Department:
Civil defense loans
Miscellaneous loans and certain other assets.
Reconstruction Finance Corporation liquidatio
fund
Virgin Islands Corporation
Total to aid industry

1/ Includes certificates of interest.

1,592

2,052

2,052

6,613

6,613

3,952
212 ,820

3,952

18,036
175 ,919

18,036
175,919

2,810
3,195
8,460

2,810
3,195
8,460

4,799
7,356

4,799
7,356

212 ,820

3,149

3,149

141,690

141,690

1,199
27,546

27,546
35,895

673,918

(Continued on following page)

426,785

Treasury Bulletin

92
,

COBFOKATKSIS AND CERTAIN OTHKB BUSINSSS-TXPE ACTIVITIBS.

Section I - Statements of Financial Condition, December 31, 1057
Table 7.- Gross Loans Outstanding, Excluding Interagency Loans, Classified by Type of Loan (Continued)
(In thousands of dollars)

Type of loan and lending agency

93

April i95(S
.CORPORATIONS AMD CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.

Footnotes to Table 2
1/

2/

^

Figures are as of September 30, 1957, the Iflteet available.
Includes $(4.8,136 thousand guaranteed loans held by lending agencies.
Certain corporations and other business-type activities that have
submitted statements of financial condition have guaranteed and
insured loans which were made by private financial institutions.
These commitments are of a contingent nature and have been excluded
The major agencies that have these
from their balance sheets.
contingencies and the amounts are as followa:
Amount
Activity
(in thousands
of dollars)
International Cooperation Administration;
Foreign investment guaranty fund
151,916
Veterans' Administration:
17,120,8^.0
Loan guaranty program
Housing and Home Finance Agency:
Office of the Administrator:
127,020
Urban renewal fund
Federal Housing Administration
21,142,592
Public Housing Administration
2 ,975 ,335
Agriculture Department:
Farmers' Home Administration:
Farm tenant mortgage insurance fund
151,40iV
Commerce Department;
Federal ship mortgage insurance fund
46,971

^

Represents the remaining accountability of the United States Government in certain assets and liabilities transferred frcan the
Reconstruction Finance Corporation effective July 1, 1954.

1/

Consists of administrative expenses, foreign aid procurements;
construction services, public buildings; and working capital fund,
Figures are as of December 28, 1957,
Figures are as of September 30, 1957, the latest available.

^

Tlie surplus is considered by the Corporatio
as available for
future insurance losses and related expense with respect to Insured institutions.
This fund has ceased to exist.
Final disposition of assets has
not yet been made,
Consiata of net Income from power operations of $439,4.66 thousand
and net expense of nonre venue-producing programs of $181,264
thousand,
Represents the net Investment of the United States Government
transferred from the Reconatructlon Finance Corporation effective
1

1

6/
7/

8/

2/
10/
11/

12/
13/
14/

15/
16/
17/
18/
*

July 1, 1954.
Represents the equity of the United States Treasury in this fund.
Includes unrealized purchase discounts amounting to $629 thousand.
Includes assets transferred to municipalities and Government
agencies without reimbursement.
Includes operating and administrative expenses fluids.
Includes guaranteed loans and certificates of interest aggregating
$310,544 thousand which are held by lending agencies,
Includes $4,550 thousand advanced from a revolving fund which has
been established by appropriations.
Represents Invested and donated capital.
Includes net accrued interest of $1,158 thousand on investment In
power facilities.
Figures are as of January 10, 1958.
Figures are shown on an estimated basis.
Less than $500.

Footnotes to Table 3

2/
2/

4/
»

Represents net appropriations, capitalization of assets, and
accuimilated net income or deficit.
Less than $500.

Footnotes to Table 4
1/

2/
2/

4/

^
6/

Represents assets and liabilities of the United States Civil Service
Commission exclusive of trust and revolving funds.
Represents appropriations for salaries and expenses,
Represents assets and liabilities of the General Services Administration exclusive of trust and revolving funds, and strategic and
critical materials.
See Table 2, footnote 3.
Includes vessels owned and under construction.
Represent* funds returned to the United States Treasury from sale of
capital assets.

10/

Represents interest on invested capital.
Includes stock of the International Bank for Reconstruction and
Development amounting to $635»000 thousand and subscription to the
International Monetary fund amounting to $2,750,000 thousand.
Includes $1,000,000 thousand due under the agreement with Germany
February 27, 1953, and lend-lease and surplus property balances
due the United States in the principal amount of $1,966,554 thousand.
Includes loan to the United Kingdom amounting to $3,470,322 thousand
outstanding.
Less than $500.

Footnotes to Table 6
1/

Consists of trust revolving funds that are submitting statements on
a quarterly basis and certain trust revolving funds that are
submitting statements on a semiannual or annual basis at the present

2/
2/
4/

time.

*

Includes unrealized purchase discounts amounting to $73,653 thousand,
Figures are as of June 30, 1957, the latest available.
Represents transfers from States.
Less than $500.

Treasury Bulletin

9'^

.CTMOLATIVE TABLE OF COBTEinB.

May 1057 throuerh April 1058
Issue and page number

Reporting bases

A-1

Treasury financing operatic

Summarj of Federal flacal operatic
elpte and expenditures:

Receipts by principal
Expenditures by agencies
topendltures by functions, fiscal years I95U to date.
,

Trust account and other transactions:
SuMnary of trust account and other transactions
Trust accoiint receipts
Trust and deposit fund account expenditures
Net Investment by Government agencies in public debt securities..
Net redemption or sale of obligations of Government agencies In
the market
Federal Old -Age and Survivors Insurance Trust Fund
Ibemployment Trust Fund
Railroad Retirement Account
National Service Life Insurance Fund
Investments of specified trust accounts In public debt securities
by Issues (latest date December 31, 1957)
Cash Income and outgo:

Summary of Federal Government cash transactions with the public...
Summary of cash transactions through Treasurer's account
Derivation of Federal receipts from the public, and reconciliation
to cash deposits in Treasurer * s account
Derivation of Federal payments to the public, and reconciliation
to cash withdrawals ftrom Treasurer's account
Intr agovemmental transac tions
Accrued Interest and other noncash expenditures
Derivation of Federal net cash debt transactions with the public,
aixl reconciliation to transactions through Treasurer's account....
Account of the Tre

of the ttilted States

Statue of the account of the Treasurer of the United States
Analysis of changes in tax and loan account balances

Debt outstanding:
SuBsnary of Federal securities
Interest-bearing public debt
Special issues to U. S. Government Investment accounts
Computed interest charge and rate on Federal securities
Treasury holdings of securities issued by Government agencies

Statutory debt limitation

,

Debt operations:

Maturity schedule of Interest-bearing public marketable securities
Issued by the U. S. Government
Offerings of Treasury bills
Summary of new money financing through Treasury bills
Offerings of marketable issues of Treasury bonds, notes, and
certificates of indebtedness
Allotments by Investor classes on subscriptions for marketable
issues of Treasury bonds, notes, and certificates of indebtedness
Disposition of matured marketable Issuee of Treasury bonds, notes,
and certificates of indebtedness
united States savings bonds:

Cumulative sales and redemptions by series
Sales and redemptions by periods, all series combined
Sales and redemptions by periods, Series E through K
Redeoiptlons of matured and unmatured bonds
Sales and redemptions by denominations. Series E and H
Sales by States, Series E and H combined

cc»iiblned.

(Contlniied on following page)

A-1

April

mn
jCUMULATIVE TAHTJ: OF CONTENTS.

May 1967 through April 1958 - (Continued)
and page nunber
195fl

Aug.

Qvnerehlp of Federal eecurltlea:
Dietrlbutlon by claaeeo of Investors and typee of Issues
Net market purchases or sales for Investment accounts handled by
the Treasury
Estimated ownership

Treasury survey of ovnerahlp of Federal securities:
Ownership by banks, Insurance companies, and others
Ownership by connnercial banks classified by membership in Federal
Reserve System (latest date December 31, 1957)
Market quotations:
Bid-of -month closing quotations on Treasury securities by issues...
Chart. - Yields of Treasury securities
Average yields of long-term bonds:
Average yields of Treasury and corporate bonds by periods
Chart - Average yields of Treasury and corporate bonds

Internal revenue collections:

Summary by principal sources
Chart - Internal revenue collections by principal sources
Detail of collections by type of tax
Detail of excise tax collections

Monetary statistics:

Money in circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary otock
Seigniorage on silver
Increment from reduction In weight of gold dollar (latest date
December 31, 1957)
BEChange Stabilization Fund (latest date September 3Q, 1957):

Balance sheet
Income and expense

National bank reports:
Earnings, expenses, and dividends for calendar years 1953-56

Capital movengnts between the

tftiited

States and foreign countries:

Summary by periods since 1935
Summary by countries and periods
Short-term banking liabilities to foreigners, latest month
Short-term banking claims on foreigners, latest month
Purchases and sales of long-term securities by foreigners,
latest month
Short-term liabilities and claims reported by nonflnancial conceme
Long-term liabilities and claims reported by banks and bankers
Estimated gold and short-term dollar resources of foreign countrlee
and International institutions
Foreign credit and debit balances in brokerage accounts
Short-term liabilities, countries and areas not regularly reported.

Corporations and certain other business-type activities:
Statements of financial condition, and loans by type (latest date
December 31, 1957)
Income and expense (latest date June 30, 1957)
Source and application of funds (latest date June 30, 1957)

Sept,

Oct.

Not

G^

Treas.
HJ
10
.A2
1958
C.2

U.S. Treasury Dept.

Treasury Bulletin

^

(3f-i4j^

Treas.
HJ
10
.kl

1958
C.2

U.S. Treasury Dept.

Treasury Bulletin