Full text of Treasury Bulletin : August 1951
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LIBRARY
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TREASURY
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DEPARTMENT
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WEASUEY.
EUILILIETEN
RUGUST-Iasi
UNITED STATES TRERSURV DEPORTMENT
OFFICE DP THE SECRETflRV
Aaciust 1951
Table of Contents
Page
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
S
Treasury cash Income and outgo
12
General Fund of the Treasury
I5
Debt outstanding
16
Statutory debt limitation
21
Debt operations
22
United States savings bonds
27
Treasury savings notes
34-
Ownership of Federal securities
35
Treasury survey of ownership of Federal securities...
37
Market quotations
kl
Yields of Treasury and corporate bonds
U-^
Internal revenue collections
^7
Monetary statistics
^1
Exchange Stabilization Fund
55
Capital movements
57
Cumulative table of contents
70
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percentConseages) have been made from unrounded figures.
quently the details may not add to the totals shown.
August 1951
A-l
Treasury Financing Operations
August Certificate Offering
On July 12, 1551
the Secretary of the Treasury
announced the offering on July l6 of an Issue of
about 57 percent of the maturing notes were owned by
reporting oomraercial banks and Federal Reserve Banks.
11-month 1-7/S percent certificates of Indebtedness
The ownership figures for May 3I are the latest
In exchange for the l-l/i^ percent Treasury notes
published for commercial banks.
maturing on August
i
The August note maturity
amounted to J5i351 million.
1.
The subscription books for the new certificates,
Series B-1952, were closed at the close
of
business
Subscriptions to the new certificates of indebtedness amounted to $5,216 million, leaving $135
million to be paid in cash.
Exchanges were made par for par for the
on July 19.
Treasury notes, Series E-1951.
Cash subscriptions
were not received.
Treasury Bills Increased
Treasury bills in July matured in the
amount
of $k.O billion and the new offerings totaled
certificates
The new
bear Interest from
percent per
annum, payable with the principal at maturity on
August
1,
July
1952.
1,
1951,
at the rate of 1-7/S
The certificates were Issued in bearer
formonlyin denominatlDns of
Si, 000,
$5,000,
|10,000,
$100,000, and $1,000,000.
Reports to the Treasury on the ownership of
Government securities indicate that on May 3I, 195I,
Mote:
Details of Treasury market financing operations are
shown elsewhere in this issue of the "Treasury
Bulletin", in the tatles on "Offerings" and "Dis-
Each of the four maturing issues
Z^.S billion.
amounted to $1.0 billion, and each new offering to
$1.2 billion.
The Increase in the issue of July 5
The
6, 1950.
was the first since the Issue of July
average rates of discount on the July offerings were
1.603 percent per annum for July
5i
I.615 percent
for July 12, 1.562 percent for July I9,
percent for July 26.
and I.59I
position , respectively, of marketable Issues
of bonds,
notes, and certificates of Indebtedness, and in the table
"Offerings of Treasury Bills".
..
.....
.
Auyusf 1951
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In mlUlona of dollare)
Net
Budget recelpta and oxpondlturea
Net
receipts
1/
Expenditures
2/
Siirplus,
or
deficit
(-)
2/
public
debt, or
decrease
Not
Increase
In General
Fund balance, or
decreaae
C-)
(-)
Tmat
Increase
account
and other
transactions
In
2/1/
Clearing
account
y
Levels, end of period
Debt outstanding
General
Fund
balance
Public
debt
Guaranteed
securitleg
Total
Federal
securities
72,li22
4,568
4,100
76,991
140,796
202,626
259,115
269,898
Fiscal years:
I9U2
I9I13
12,696
22,202
igWi
'•3,892
762
3l',l87
79,622
95,315
98,703
60,703
19''5
"ill,
igus
liO,027
19^1
'«D,0'i3
19lt8
'12,211
39,289
33,791
19't9
1050
1951
38,2U6
37,OU5
'10,057
It0,l67
Ii8,lli3
'i'i,633
1952 (Est.J.
55,138 5/
71,5911
^
-2i,iigo
-57,1120
-51,'i23
-53,9'tl
-1,613
-338
-2,222
791
23,li6l
-20,676
-52ll
751.
-1,103
8,U19
-1,811
-3,122
3,510
-2911
-16,1156 5/
-U95
99
679
358
6,515
10,662
2,991
9,507
20,169
57,679
11,529
10,7li0
-10,li60
211,698
111,238
-11,136
-10,930
3,308
-5,9911
l,62ll
-l,li62
1»,932
'1,587
2,011?
-2,135
1,839
5,517
7,357
6,983
1,751
10,5113
12,2911
9,9112
22,236
26,003
3,502
61i,27lt
611,307
555
-507
366
U83
-21U
U78
1.6I1
16,000
-1,788
-266
-1,161
50,232
57,707
3, '•70
136,696
201,003
258,682
269,1122
258,286
252,292
252,770
257,357
255,222
1,623
433
476
90
29
258,376
252,366
252,798
257,377
255,251
259,1119
4,301
4,230
1,514
567
339
112,471
170,108
232,144
278,682
259,487
256,900
252,800
257,130
256,708
81
55
30
24
256,981
252,854
257,160
256,731
252,620
252,721
251,6'i2
36
26
24
252,656
252,747
251,666
251,530
251,889
252,770
23
23
27
251,553
251,912
252,798
253,877
255,852
256,680
26
27
29
253,902
255,879
256,709
73
27
20
Calendar years:
19112
16,290
57,751
-iil,U6l
WM
3'>,'t83
90,1711
97,181
87,522
-55,691
-53,650
19'»5
'13,531
'13,928
19't6
36,810
111,322
-2,512
19l<7.
111,010
38,576
36,209
2,lt3li
19'*
-113,5911
-123
-1,386
19l<8.
'il,'t50
19't9.
38,122
111, 7111
-3,592
-350
-229
-502
1950.
37,8311
38,255
-ll22
311
3,579
3,381
3,205
2,972
3,651
3711
I109
191+9-January
.
February.
March. . .
April
May
June
July
Aueus t .
September
,
5,1135
5,2111
-2U0
199
-2,249
-I105
-li,100
li,331
1,111
23li
87
-li23
-lil.7
11,679
'1,232
3110
-179
101
-1,080
1151
11,659
-51
87
631
U76
5,291
5,767
-m
-1,771
-833
3,995
3,163
308
3, '•70
-62
213
291
-511
-3211
l,3li0
3,151
1,9115
3,10li
',767
'1,656
-1,811
-1,159
111
l,9'i6
3,'13't
-l,li88
30
2l8
2, '179
3,585
3,995
-1,106
837
3't5
-ItOli
-133
20
3,111
3,127
3,722
-1,230
-783
!i69
299
-272
3,323
lili
2
'1,832
1950- JajraarjFebruary
March ....
3,366
2,972
It, 820
2,1196
1176
3,269
1,551
'•,191
10
170
-93
April.
May...
June.
l,!i88
2,8li7
-1,358
2,320
2,962
-61t2
-79
1U7
U.UOll
'1,296
108
-53
July
August. .
September
1,881
U,605
3,013
2,515
3,520
-1,132
2, 860
October.
November.
December.
2,056
2,851
3,170
3,102 6/
-l,llli
,211
3,7'i2
1951- January
February.
March ....
U,l*liB
257
8,112
April.
May...
June.
3,767
-22,502
1,783
1,381
2,3Mt
.
-18,966
172
-315
October.
November.
December
.
611,753
U7,U8li
362
It
l,081i
-2526/
359
881
-173
160
-36
-88
I17I
1,107
1,975
828
-133
3,337
1,0S1
1,281
U,lil8
'1,737
20I1
-962
-315
1I18
257
It,
-265
5,0119
5,186
6,121
5,699
ll,ll22
679
256,778
256,98a
257,130
28
29
256,865
256,368
255,724
27
27
255,718
256,350
257,357
22
30
256,805
257,011
257,160
256,892
256,395
255,747
589
-11
122
-6I15
370
137
935
25
-376
-8
-6
-1,1119
'1,702
632
1,007
-238
1,053
li,li61i
-1,017
665
319
11,500
257,5ltl
16
5,185
5,505
257,374
257,216
18
20
257,557
257,891
257,236
-I197
5,517
24
20
20
255,740
256,370
257,377
-99
31
1I17
-lllO
183
333
-27
-80
-658
-17
169 6/
U9
-63
-52
-279
lUO
-369
-1,359
't,l't5
-5
l»,139
93
'1,232
256,937
257,077
256,708
22
24
24
256,959
257,100
256,731
221
929
3,187
11,451'
256,125
5,382
8,569
255,9'tl
254,997
18
18
21
256,143
255,958
255,018
6,955
5,782
7,357
254,727
255,093
255,222
21
29
29
254,748
255,122
255,251
I170
115
3,fio8
6I1O
-83
2li7
-583
3,211
l,olt7
227
-I8I1
11,058
i»,05it
-3'i
-161
111
2,626
U,007
-69
136
-270
-l,6lli
'',517
-30I1
5,969
281l
'•3
366
129
-1,173
7,089
-1,381
-1,370
1,119
106
3,11*6
It,
3,097
U,208
108,170
165,877
230,630
278,115
Source: Actual figures from Dally Treasury Statement; estijnates based on
1952 Budget document, including effect of proposed legislation (see
also footnote 5). More detailed infoimation vith respect to the
figures in this table is given elsewhere in the "Treasury Bulletin",
1/ Gross receipts less appropriations to the Federal Old-Age and SurviTorB
Insurance Trust Fund and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established
under Section 114 (f) of the Economic Cooperation Act of 19118
(62 Stat. 150), are consolidated with budget expenditures.
Excess of receipts, or expenditures (-).
For outstanding checks and interest coupons, and telegraphic reports
-9I1I1
5/
6/
1,57't
from Federal Resei-ve Banks; excess of receipts, or expenditures (-).
In testimony before the Senate Finance Comniittee on June 28, 1951;
Secretary Snyder, estimated 1952 net receipts under present law at
$58.5 billion and expenditures at $68. l* blllioa, with a resulting
deficit of $9.9 billion,
Beginning November 1950, inves'tanents of wholly owned Government
corporations in public debt securities are excluded from budget
expenditures and inclxaled with other such inveetmente under "Trust
account and other transactions", Adjustanonts for July-October lAveslanents were made In the November and January figures
Treasury Bulletin
BUDCffiT
RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sonrcea
(In mllllona of dollars)
Flecal year
or month
. .
.
.
.
.
•
Auqust 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures for National Defense and Related Activities
(In miU-ions of dollare)
Deptixtjaent
Fiscal year
or month
of tha
Air Force
lU/
WlO...
igiiS
.
.
19117...
16, 812
191*8...
19''9...
1950...
1951 p.
11,500
12,158
12,378
19,958
19^
ltl,li31
(Estimated)
Departanent
of the
1^
Navv
16/
1*2,265
75,297
89,720
90,501
U8,870
ig'i'i...
Depaa'tment
of the
1*9,21*2
1,690
3,506
6,237
Poymenta
under Armed
Forces
Leave Act
20,888
26,538
Beconatruction
Finance
Corporation
,189
,682
50,337
27,800
6,911
30,01*7
1*72
15,161
It, 998
328
138
6,046
l*,171
5,1*17
14,090
l*,ltl2
270
10
110
5,756
2
6,875
1,986
United
States
Surplus
property
disposal
Marltlios
Conmiaelon
18/
12/20/
other
22/
21/
6,180
2,776
3,812
3,227
69U
271
7,1*1*7
6,305
It, 117
llU
1,501
106
UU2
268
325
99
25
98
299
U39
656
1*31
1,300
12U
30
661*
277
136
551*
7
1
1
It,
Strategic
and
critical
materials
1*0,007 2i/
Wt
71
225
1,02 It
390
251.
309
1.0
l,llt9
36l»
1*2
33
September
1,037
386
272
321*
1*39
267
30
29
October.
November
December
1,338
1,UU6
1,510
U26
U67
1*55
379
52
1.U6
1*51*
1*30
535
U80
26
27
21
1951- January.
February
March
U83
.
1,651
1,695
2,057
656
518
567
718
560
535
585
2,160
2,396
622
733
81*2
521*
...
81*2
June p.
2,1*95
71*6
1,01*1
718
620
1950- July..
Auguet
.
April.
:-lfl^
Source
( Same as Table 2 )
Footnoteo at end of Tables
1*83
51
U5
31*
i
25
26
72
72
63
100
1*7
1*2
1*0
:
1*
and 5.
Table 4.- Expenditures for International Finance and Aid
(In mllllonB of dollars)
Bretton Wooda
Fiscal yeejT
or month
A^Ereemanta Act
191*7
727
U,02B
191*8
i*,ii*3
191*6
12J
6,016 12/
191*9
159
1,1*26
ExportImport
Bank
2U/
568
938
1*65
Credit
to
United
Kingdom
2,050
1,700
Government
and relief
in occupied
areas 25/
GreekTurk lah
Assistance
Economic
Cooperation Act
881
1,333
753
35^
l6l
131*
2^
279
121
65
U,0l*3
12/
3,523
2,810
l*,657
1952 (Estimated)
7,138
106
200
17
1,200
273
-17
1*0
10
23
6
10
11
199
191
U
1*5
l*,l*31
October,
November .
December.
.
251*
.
.
.
1951-January ....
February. ,,
March
April
May
June p
5
360
321
252
13
5
27
-28
28
13
6
30
33
328
31*6
39a
<
I*
299
331*
1*8t
785
23
U
7
2
ll*
27
39
7
29
Source
( Same as Table 2 )
Footnotes 1 through 6 on page 2 and 13 through 35 on page 1*.
1/ Allows for deduction of appropriation of $275 million for Medical
Care Insurance Trust Fund, under proposed legislation.
8/ The Social Security Act Amendments of 1950 (Public Law 73I*),
approved August 28, 1950, change the basis of appropriating
social security employment taxes on employers and employees. Effective January 1, 1951, these taaee and withheld Income taxes
are paid Into the Treasury in combined amounts without separation
as to type of tajc.
The amounts of such taxes credited currently
as appropriations to the Federal Old-Age and Survivors Insurance
Trust Fund are based initially on estimates by the Secretary of
the Treasury and ore later adjusted on the basis of wage records
maintained by the Social Security Administration. For the purposes
other
26?
511*
-60
1950
1951 P
1950-July
August
September.
Mutual
defense
assistance
81
19
:
11/
12/
5,500 21/
170
232
115
11.
31
208
15
32
25
21
236
205
167
51
66
69
23
209
188
222
62
65
81
17
203
236
95
lUo
21*
51*5
17I*
17
ll*
13
13
12
21
of this table, beginning January 1951, the same amount as is credited
each month to the Trust Fund is included under "Employment taxes" as
receipts for old-age Insurance, and the balance of the combined receipts
is shown under income tax as "Withheld by employers".
For description of content see Table 6 footnote 3
Beginning November 191*9, interest on the public debt is reported as an
expenditure when such interest beconea due and payable, as distinguished
from the previous practice of showing the expenditure on the basis of
Interest paid by the Treasurer of the Onlted States.
Includes public works undertaken by the Veterans* AdminiBtratlon,
Tranaactlons relating to the Foreign Economic Coopeiation Trust Fund,
established under Section 111* (f) of the Economic Cooperation Act of
191*8 (62 Stat. 150), are consolidated with budget expenditures.
,
10/
1*20
1*1.
881*
,
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5.- "Other" Expenditures
(In mlllionfl of dcilara)
Department
of
Fiscal yeex
or month
Agriculture
Department
of
Commerce
22/
61
71
92
igiiT
2,256
2,525
2,133
5,332
585
696
969
-203
1,226
11*9
19U8
6,1167
702
172
191*9
9,666
10,865
9,350
2,656
1950
1951
636
239
385
379
1952 (Eattaated).
12,312
1,612
996
512
1,136
1*2U
1,91't
19'<3
19UI1
,
191*5
19't6
1950-July
August
September.
October
November,
December,
.
.
February
March
April
Ma;
June
.
Eeconatructlon
Finance
Corporation ^ 2/
Social
security
program
21/
732
1*25
-21*7
-288
798
807
15
535
-360
-30T
-29
1
Miscellaneous
Comcilsalon
-727
-35!.
Atomic
Energy
iiJ
1.068
901
937
161
-23
81*5
129
21*2
690
215
1,066
159
1,11*2
1,'*56
-68
-56
-270
310
1*38
1,633
SlU
589
-71
61*7
2,121*
521*
621*
1,619
1,696
1,967
2,027
U56
1(60
1,126
1,520
1,577
1,531
908
2,515
2,857
61*3
-1*68
160
1,625
23
2,l61*
1,277
5,276
32
19
36
-17
11*3
181*
3
1*09
52
53
211
150
159
155
157
129
kg
-2
2U
56
-U5
96 11/
23
38
38
Ul
65
-7
-111
-9
223
66
80
30
157
151
129
11*6
59
62
286
212 11/
836 11/
606
620
115
1*1
62 11/
26
29
65
109
85
96
-18
«
251
110
63
775
101*
91
33
35
11
29
U9
26
102
119
11*
l,0lt6
2,981*
-113
-220
11/
569
1951- January
Public
works
20/ ii/
-2l>6
72l<
,
FoBtal
deficiency
313
359
783
. ,
Bousing
and home
finance
71*8
68
92
98
:
26
52 11/
31*
521*
593
60
71
(Same as Table 2),
Source:
Footnotes 1 through 6 on page 2 and 7 through 12 on page 3 •
13/ Beginning November 1950, net Investments of wholly owned Government
corporations and agencies in public debt securities are excluded from
budget expenditures and included in "Trust Account and Other
Transactions", Table 1*, Budget expenditures for November have been
reduced also by $9,713,750 and those for January by $8,969,250 as
adjuetmante for such net investments classified during the period
July through October 1950 aa budget expenditures. The reductions are
distributed as follows, all in Table 5: for Movember, $396,100 under
"Department of Agriculture", $9,367,650 under "Housing and home finance", and a credit of $50,000 under "Miscellaneous"; for January
$8,969,250 under "Housing and home finance"
11*/ See footnote 15.
15/ Includes those expenditures on behalf of the Deparlanent of the Air
Force which are made out of appropriations to the Deparianent of the
Pjnay f but excludes expenditures as follows:
those shown separately
in Table 3; international finance and aid, shown in Table 1+; river
and harbor work and flood control, included in Table 5 under "Public
works"; and Panama Canal. Defense expenditures of the Panama Canal
prior to 19l*7 are Included in Table 3 under "Other"; other eipendltures are included In Table 5 under "Mlscellaneoue"
16/ Excludes expenditures shown separately in Table 3, and those for
international finance and aid shown in Table 1*
17/ After 191*7, expenditures for national defense and related activities
were not segregated f^om other expenditures of the Corporation and
its affiliates, which are included in Table 5.
18/ Excludes expenditures shown separately in Table 3. Beginning 1950,
expenditures of the Commission until it was abolished are included
in Table 5 under "Department of Commerce"
19/ Beginning March 191*8, includes reimbursement to the Departments of
the Army and Navy for care and handling of surplus property overseas.
20/ Beginning 1950, General Services Administration expenditures for surplus property disposal and for public buildings other than construction
are not included In expenditures for these purposes in Tables 3 and 5
because they are not shown separately from other expenditures of the
Administration.
21/ Prior to 19U7, these expenditures were Included in "Other" Treasury
Department expenditures, in Table 5 under "Miscellaneous".
22/ For content before July 191*8 see "Treasury Bulletin" issues for
September 191*8, page 1*, and February 19U8, page 7, except that beginning with 19l*7, figures have been revised to include expenditures of
the National Advisory Committee for Aeronautics.
Beginning 19I+9,
consists of expenditures of that Committee, the Selective Service
System, and the Office of the Secretary of the Defense except in the
1951 and 1952 estljnates. The Office of the Secretary Includes retired
pay for the military services beginning September 19l*9.
25
270
9
121*
-7
-2
-5
71*
212
IU9
105
93
73
87
103
126
r
521*
185
191
175
222
169
235
263
21/ Total for Air Force, Army, Navy, and Secretary of Defense. In a detailed estljnate for the military functions of the Department of Defense,
issued April 30, 1951, the 1951 estimate for these functions was revised
from $20,000 million in the January Budget document to $19,361* million,
and the 1952 estimate was revised from $1*0,000 million to $39,517 million. Including effect of proposed legislation.
2k/ Excludes Bank expenditures under Economic Cooperation Act of 191*8.
25/ Beginning June 19l*9, includes the revolving fund for agricultural
commodities and raw materials for occupied areas.
26/ Includes principally relief in countries devastated by war, expenditures
under the Foreign Aid Act of 19U7 (61 Stat. 93I*) and the China Aid Act
of 191*8 (62 Stat. 158), International Children's Baergenoy Fund, loan
for construction and furnishing of United Nations Headquarters, and
Korean Aid. Beginning 1950, includes Department of Agriculture expenditures not previously classified in the Daily Treasury Statement as
foreign aid and relief.
27/ Includes $3,000 million for mutual assistance, mllitaiy and economic,
under proposed legislation.
28/ Excludes expenditures Included in Tables 3 and 1* and those for forest
roads and trails, included in Table 5 under "Public works".
29/ Excludee expenditures Included in Tables 3 and 1+ and those for public
roads Included in Table 5 under "Public works"; includes U. 3. Maritime Commission for eleven months of 1950, until it was abolished and
its functions were transferred Into the Department of Commerce by
Keorganlzatlon Plan No. 21 of 1950.
'^0/
Excludes expenditures Included in Table 3; beginning September 1950
includes Federal National Mortgage Association and Prefabricated Housing
Loans Program, which were transferred from the Reconstruction Finance
Corporation by Eeorganization Plans Nos 22 and 23 of 1950
^1/ Consists of expenditures for the following: public roads, except
assistance to Greece and Turkey; public buildings, consisting of construction only, beginning 1950 (see footnote 20); and Bureau of Community Facilities through 1950, these three categories of expenditures
having been under the Federal Works Agency until it was abolished by
the act of June 30, 191*9 (63 Stat. 380); Bureau of Reclamation;
Tennessee Valley Authority; river and harbor work and flood control
under the Department of the Army; and forest roads and trails under the
Department of Agriculture. Prior to 1950, includes all other Federal
Works Agency expenditures except those included in Table 3
22/ Excludes expenditures included in Table 3.
n/ For more detail of these expenditures, see Tables 7, 8, and 9.
^k/ Includes expenditures for executive departanents and other agencies not
Included elsewhere and for legislative and Judicial functions.
*
Less than $500,000.
p
Preliminary,
r
Revised.
.
Aaciust 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary by Months and Years
(In mllllona of dollars}
Year
Treasury Bulletin
BUOaET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(In mllllonB of dollars)
Fiscal year
or month
U
. .,..
.
8
.
Auc/u5t 1951
BUDOET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act - Budget Receipts and Expenditures
(In mlUions of dollare)
Expenditures
Receipts
Fiscal year
or month
Exceea of net
receipts, or
expendlturee (-)
1/
Deduction:
Refunds of taxes
on carriers and
their employees
Taxes on
carriers
and their
employees
'
Tranafera to
Railroad SsClrgment Account
( truat account)
Administrative
expenses
Net
recelpta
i/
19'>i
-11.1*
19't'i
19l»7
1.8
-26.3
-12.8
77.3
191*8
19'*9
-206.5
-15.5
Wl-S
19l<6
1950
1951
-30.5
1950-July
August.
Septombar.
.
-21*
,
October,
November.
Decombor.
.
1951- January ,
.
.
February .
March
April
Ma7
June
281..
3U.1
21U.8
262.7
308.8
281.7
380.0
29"*. 5
29.'..
302.8
298.5
557.0
763.5
578.9
583.7
608.0
753.5
208.8
267.1
285.0
282.6
380.1
208. e
267.0
557.1
563.8
550.2
577.5
563.'*
5U9.6
577.5
220.2
265.2
9
571*. 5
582.8
608.0
25.8
26.0
25.8
26.0
331.'*
331.'*
80.5
80.5
1.6
6.5
139.5
62.3
62.3
82.0
82.0
.9
.9
.9
-15.5
-205.
10.5
126.0
10.5
126.0
-77.7
9.8
133.0
2.8
9.8
133.0
2.8
9.8
133.0
-60.8
6.5
139.5
1.6
6.5
139.5
-79.0
3.0
3.0
U.8
't.8
1*.8
J39.2
139.2
139.2
administrative expenses relating to the Railroad Retirement Act,
interest on refunds of taxes (see footnote 2).
Lees than $50,000.
Source; Dally Treasury Statement.
1/ Excess of expenditures Is covered by appropriations by Congress.
2/ Interest on refunds Is included under "Administrative expenses",
i/ Consists of expenditures frcm appropriations made specifically for
Table Q.- Railroad Unemployment Insurance
Act^- Budget Receipts
and Expenditures
(In millions of dollars)
Expenditures
Receipts
Fiscal year
or month
Excess of
recelpta , or
expenditures (-)
2/
19't't
2.1
-2.7
19'>5
191*6
-.2
191*3
Railroad
unemployment
insurance
contributions
.6
19117
-5
191*9
1950
1951
1950-July
August. ..
September.
-.5
-.8
1.9
15.1
1U.8
12.3
5.5
5.9
9.7
9.0
9.8
5.8
1:1
.1
2.3
.5
.8
.U
.1*
.5
.5
.1*
.1*
-.5
»
.5
-.1*
.1
2.0
2.3
.5
.U
.5
.5
.u
.1
.3
.3
May
-.3
-.5
.1
.6
.6
June
2.1
2.1*
.3
.3
.
April
Source: Daily Treasury Statement.
1/ Operated as Railroad Unemployment Insurance Admlnlatratlon Fund.
Excess of expenditures is covered by appropriations by Congress
Through 191*8 repreeented 10^ of contributions under the Railroad
Unemployment Insurance Act of 1938; the remaining 90^ was deposited
in the Railroad Unemployment Inaurance Account in the Unemployment
Truat Fund. Beginning 191*9, represents contributions equal to 0.2^
of the taxable pay roll; the remaining contributions are deposltAd
U/
^
•
8.9
9.6
9.2
5.1*
2.1*
.
1951-January.
February
March. ...
^
H'.5
9.7
.2
«
.
6.0
U.7
.1
.
^
2.2
3.2
3.7
-.1*
.
November
December
Tranafera to Railroad
Unemployment Inaurance
Account, Unemployment
Trust Fund
8.2
IU.9
12.6
13.1
13.7
10.3
-.5
2.0
Oc tober
2/.
^
12.1
13.2
12.9
11*
191*8
Administrative expenses (Railroad
Unemployment
Insurance Administration Fuol) hj
in the Railroad Unemployment Inaurance Account (I.5 U.S.C. 358(f)). (See
"Trust Account and Other Tranaactionfl", Table 7- )
Consists of expenditures frco appropriations made specifically for
administrative expenses relating to the Railroad Unemployment Inaurance
Act.
Repreeents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, I9I.0 (5U Stat. IO99).
Less than $50,000.
Tieasury Bulletin
.
TRUST ACCOUNT AND OTHER TRANSACTIONS
.
Table 1.- Summary of Trust Account and Other Transactions
(In AiUlona of doUare)
Flecal year
or month
Net of
truat account
azui other
tranaactlona l/
Trust accounts^ etc
Ret recelpta^or
expenditures (-)
Expend IturoB
(other than
Recaipte
InTestjDenta
19»*3
19"*^
,
19»*5
-338
-2,222
791
191^
-521*
19»*7
-1,103
19U8
I9U9
1950
1951
-29lt
3,95't
593
5,085
7,086
7,712
6,2W»
305
-U58
U,U7U
3,625
7,5W»
3,238
2,619
.
.
.
.
April
May
June
-123
8
3,557
-10
3, '•75
8,620
5,ll'5
3, n't
-170
335
-27
277
606
327
726
957
157
217
780
-11*5
-17
169
131
359
"•5
-U
-Si
350
572
227
Ult9
708
.31.
91
li30
-69
63
638
899
k67
1,055
1,003
136
28U
3,857
,
UI19
351
I192
681
379
. .
1951-January
February
March
16
-1)02
ll»7
. .
3,060
2,311
-66
-28
6,950
3,9i5
5,71i>
-99
October .
November
December.
95
190
277
6,669
7,796
1952 (Estijnated).
,
599
2,683
1,276
160
387
6,515 37
6T9
August
September . .
3,00U
h,129
5,200
3,668
3,362
2,658
1,890
-S8l
3,852
-1.95
1950-Juljr
3,361
11,780
Net redemptions, or sales (-),
of securities of GovornniBnt
Ret Invedtzaer.te of
agencies in the market 2/
Government agencies in
public debt securltiee 2/
Not guaranteed
Guaranteed
^
Source: Actual figures fVan Daily Treasury Statement; estimates based on
1952 Budget document, including effect of proposed legislation,
1/ Excess of receipts, or expenditures (-).
2/ Conalste of transactions which clear through accounts of the Treasurer
of the United States.
361
322
383
1I.8
222
258
339
U27
209
127
U03
107
I1.17
1*87
104
661)
192
28
1.6
-37^*
-70
-85
y
-2
-2
•
Jt/
6
*
1.0
-&?
-3
25
2U
•he
-9
Excludes Foreign Economic Cooperation Trust Fund (see "Budget Beceipte
and Expenditures", Table 2).
See Tables 3 and h.
Less than $500,000.
kj
•
Table 2.- Trust Account Receipts
(In millions of dollars)
Federal Old -Age
and Survivors
Insurance Trust
Fund
Fiscal year
or month
19'<3
3,9511
19l<l»
Railroad
Petlrament
Account
1,218
1,395
221
273
l,l'3l'
321.
191*6
5,085
7,086
7,712
19't7
6,2l.U
1,386
1,623
312
323
19lt8
6,515 1/
1,807
19''5
ItoemployiBsnt
Trust Fund
National Service
Life Insuraoco
Fund
1,501*
13"*
578
792
71*0
591*
1,171*
690
1,076
90
92
87
86
680
809
1*03
5,71lt
l,92l>
6,669
7,796
2,367
61*5
3,1*11
678
l,5'.l
681*
1952 (EsMjnated).
8,620
U,ll*o
721
l,U8o
697
327
726
957
201
3X6
196
26
26
332
35
288
29
Ul
17
lt92
181
292
256
81
38
257
572
708
U30
21.6
63
105
371*
1
1
208
29
U67
1,055
1,003
158
83
1
1*2
39"*
66
97
Septenber .
.
1951- January
February
March
April
Hay
June
.
.
.
.
,
.
681
379
. .
,
250
531*
1*07
32
Source
( Sane aa Table 1 }
1/ Conal8t0 of Civil Service and Foreign Service retirement funds.
2/ Includes Adjusted Service Certificate Fund, District of Coluttbla,
Indian tribal funds, Island possessions, increment resulting from reduction In the weight of the gold dollar, and through June 1950
seigniors^ on silver under the Silver Purchase Act of 193I*.
:
^
hj
•
funds and
accounts
371*
1950
1951
October
November
December.
2/
90
9U
97
103
19't9
Augiist
Other trust
employees
retirement
funds 1/
316
905
2,127
2,351
1,313
1,173
1,281
1950-July
Covemment
1,399
1,567
1,508
1,280
1,289
797
625
V
Government
Life
Insurance
Fund
501
557
6ll*
337
351
1,038
1,666
5^*5
811
1*07
2
32
32
21
28
3
331.
1.8
1*7
3
3"*
107
U*
36
3
33
30
53
22
60
U9
5
35
30
33
58
36
52
U
2
112
29
205
U8
179
60
32
5
3
3
It
i/
529
1*1.
-2
1.2
53
1
Thereafter such seigniorage Is included with other seigniorage under
budget receipts.
Excludes Foreign Economic Cooperation Trust Fund (see "Budget Receipts
and Expenditures", Table 2).
Total includes $275 million for Hadical Core Insurance Tnist Fund under
proposed legislation.
Less than $500,000.
Auqust
\^)ii
.TRUST ACCOUMT AHD OTHER TRANSACTIONS.
Table 3.- Trust Account Bxiiend 1 turee Other Than InvestmentB
(In mllliona of dollars; negative figures are excess of credits)
Flacel year
or month
Treasury Bulletin
10
TRUST ACCOUNTS AND OTHEB TRANSACTIONS.
Table 5.- Federal Old-Age and Survivors Insurance Trust Fund -^
(In mlll.ions of dollars)
Fiscal
year
or
month
Aiic/usf 1^)51
11
.TRUST ACCOUNT AMD OTHER TRASSACTIOUB.
Table 7.- Uneaplojment Trust Fund
Treasury Bulletin
12
TREASURY CASH INCOME AND OUTOO,
Table 1.- Sumnary of Cash Transact iona
-Aiu/ijsf
1^51
13
TREASURY CASH INCOME AND OUTGO,
Table 3.- Derivation of Cash Budget Expenditures
(In millions of dollckre)
Treasury Bulletin
Ik
TREASURY CASH INCOME AND OUTGO.
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
(In mllllonfi of dollare)
Fiscal year
or month
August 1951
15
GENERAL FUND OF THE TREASURY.
Table 1.- Status of the General Fund
(In mllllonfi of dollare)
End of fiscal
year or month
Treasury Bulletin
l6
DEBT OUTSTANDING.
Table 1.- Sunnary of Federal Securities
(In millions of dollara)
End of
flBcal
year or
month
17
.4uc/«.sf i^>51
DEBT OUTSTANDING.
Table 3.- Interest-Bearing Public Debt
Treasury Bulletin
IB
DEBT OUTSTANDING.
Table 5.
Interest-Bearing Securities Guaranteed by the United States Government^
(In millions of dollars
Nonmarke table
Marketable
fiscal
year or month
,nd of
Conmodlty
Credit
Corporation
Federal
Farm
Mortgage
Corporation
Federal
Housing
Administration
Owners
Loan
Corporation
Public
Housing
Administration
Reconstruction
Finance
Corporation
Commodity
Credit
Corporation 2/
,092
,516
,908
,190
U09
31.
31.
326
375
19U6.
J.67
1.3
1.3
1.2U
68
150
375
kzU
19l<7.
83
38
38
1.5
1.5
igue.
69
2U
27
27
1.2
1*2
13
13
11
11
17
16
1
1
27
15
19'*3.
19'>'».
U12
U12
930
23
21.
1950.
1951.
27
16
27
19U9-December.
27
15
1950-July
Aug us t . . .
Septomber.
lit
13
13
15
18
15
18
15
18
October..
November.
December.
20
21
22
20
SO
21
20
20
21
1951- January..
16
15
15
19
15
15
19
Februar;-
March.
.
.
April.
Ma;...
June..
15
19
19
19
19
27
27
27
27
27
111.
183
115
176
and X-C^ which were held by United States Government corporations and
credit agencies.
Less than $500,000.
Table 6.- Special Issues to United States Government Investment Accounts
{In mlHloiifl of dollars)
End of fiscal
year or month
Corporation
1/
27
Source:
Daily Treasury Statement.
l/ Excludes e^iaranteed securities held by the Treasury.
Conslate
of demand obligations as of the close of the previous month.
2/
Consists of Reconstruction Finance Corporation notes Series X-A, X-B,
^
1,533
755
Rec ens true
-Ion Finance
Auijust
l^f-yl
19
DEBT OUTSTANDING.
Table 7.- Computed Interest Charge and Computed Interest Rate on Federal Securities
Treasury Bulletin
20
DEBT OUTSTANDING.
Table 9.- Public Debt and Guaranteed Securities Outstanding by Months
(End of nonthj In nllllons of dollars)
May
Apr.
July
Aug.
19,612
22,610
27,189
29,123
20,611
23,051
27,190
20,813
23,050
27,188
23,531.
20,806
23,8lU
27,299
28,1.79
£5,1.21
29,1.6:?
29,631.
30,557
33,1.1*1.
20,067
23,099
27,080
29,033
33,380
33,833
33,833
33,791*
31*, 1*07
36,716
37,191
U0,66l
37,OU5
37,593
U0,891
36,956
38,U23
37,091.
37,279
38,603
39,1.27
1.1,036
1.1,305
1.1,91.2
1*3,905
36,875
38,393
Uo,858
1*1., 073
1*1*,
273
1*5,025
50,921
51,31.6
137
53,58U
81,685
86,U83
158,31*9
209,1*96
210,21*1*
261,817
263,532
Sept.
Public debt
1932.
1933.
1931*.
17, E16
18,507
21,362
26,158
28,817
26,liB
28,668
30,516
18,126
20,935
26,052
28,526
30,520
31,1.59
502
31., 601
3"., 728
37,'»53
37,633
39,859
37,556
39,985
1.2,365
1.6,090
1.2,51.0
20,802
S5,068
1935.
1936.
28,1.76
1937.
1938.
1939.
3'',
39,631
1(2,110
igui.
1.5,877
19'»2.
19l«3.
60,012
111,069
170,659
19'»'*.
62,381
1111,021.
232,1*08
183,107
233,707
19"^.
278,887
279,211.
m?.
259,776
19lt8.
256,571.
261,1.18
2514,605
I9U9..
1950..
252,620
256,865
256,155
1951.
18,597
31,1.25
19,037
21,853
26,155
28,638
31,636
22,539
27,053
28,701
33,779
3't,9'tl
35,213
36,1.25
37,510
37,1.22
1.0,282
1.0,1.1.0
U2,8o3
U2,968
1.3,771
"•9,513
21,U1.1
1.0,063
1.2,658
19,1.87
37,165
1.1.,
1.7,173
1.7,231
1.7,721
1.8,961
62,U19
115,507
181., 715
233,950
276,012
961
129, 8U9
72,1.22
77,136
136,696
201,003
258,682
11.1,521.
11.4,059
235,069
273,898
68,571
135,913
186,366
238,832
272,583
203,571.
262,01.5
209,802
263,001
269,1*22
268,270
267,51.6
262,020
265,369
259,121*
257,701
258,31.3
259,1.1.8
260,097
259,1'.5
259,071
252,990
251,6U2
252,21.0
252,236
251,889
256,350
255,093
258,286
252,292
252,770
257,357
255,222
253,371.
253,01*9
255,852
257,51.1
257,871.
252,687
256,680
257,216
252,1.60
253,877
252,721
256,368
255,721.
255,91.1
251., 997
61.,
l8l.,967
251,530
255,718
254,727
20,806
55,OlM3
57,938
96,116
166,158
215,005
265,31.2
108,170
165,877
230,630
278,115
262,277
259,11*9
258,212
252,506
256,982
257,077
256,900
252,800
257,130
256,708
2,596
18
2,823
11,1.21
l*,l*6o
180
3,063
U I19I1
92,901.
165,01.7
256,778
256,937
0\*aranteed aecurltlea l/
1932.
1933.
19311.
2
310
3,300
180
295
3,589
681
1,123
.,718
1,061.
1,615
3,728
.,703
11,205
.,721.
l.,2U8
.,669
1,875
.,369
.,667
l*,667
1*,662
l.,662
.,633
5,009
1,631*
l.,6l.U
1,61.5
5,001
1,993
5,708
5,919
U,992
5,704
5,917
"1,562
3,1180
11,630
l.,65U
325
3,660
.,676
1937.
1938.
1939.
11,662
U,662
U,662
U,66o
l.,66o
.,665
.,703
11,61.6
It,
61.6
U,61.6
l.,6U7
U,852
l.,853
5,06!.
.,633
5,015
11,987
5,1*10
5,1.10
5,1.10
5,1.09
5,1.50
5,1*80
5,^*89
5,1*56
5,Ui.8
191*0.
5,699
5,915
5,673
5,657
6,560
5,535
6,371
5,526
6,939
6,937
5,808
6,937
5,810
6,938
6,32li
6,321.
19112.
19I.3.
5,703
5,696
5,690
5,687
.,592
l.,57^.
l.,301
1*,287
l.,36o
l*,091
l.,10O
3,91.1
1,233
1,1W.
551
2,278
2,271.
1,623
1,11.1*
1,155
553
553
51.1.
1,669
1,171
552
U,l6o
1,533
19k«.
1,275
1,530
558
3,971
1,568
5U5
UOO
1,230
Willi.
19I.5.
.,265
1,119
1,563
558
386
li,26U
l.,291
5,688
.,372
5,529
6,370
U,568
5,813
5,911*
5,663
5,916
370
567
339
I9I17.
19'i8.
19I19.
270
77
36
188
lee
73
178
177
75
83
52
1950.
1951.
27
18
II
21
22
21
90
73
27
20
1932.
1933.
17,816
20,802
25,378
31,776
35,078
18,126
20,935
26,232
32,006
35,150
18,507
21,362
26,453
32,406
36,113
18,597
21,441
26,443
32,328
36,101
19,037
21,853
26,578
32,367
36,339
19,487
22,539
1937.
1933.
1939.
WllO.
19*1.
39,l6'>
1.2,099
39,263
1*2,279
1*5,269
1*8,038
52,001*
39,390
42,202
45,395
48,203
53,089
39,601
42,157
45,473
48,315
53,791
191.2.
65,715
115,360
174,933
233,938
68,077
118,311
187,339
234,851
279,764
68,109
119,867
186,993
235,094
276,565
70,649
134,221
187,241
236,224
274,443
188,035
240,003
273,135
261,606
254,683
252,747
256,395
255,958
259,306
253,068
251,666
255,747
255,018
257,880
252,315
251,553
1935.
1936.
191*1.
79
26
21.
21.
75
23
1.23
1-33
1*76
1,581
3,791
1,565
505
333
30
1,566
53^.
379
76
1,5111
81
50
29
20
28
89
57
29
55
30
16
27
18
22
2li
2l>
20,067
23,099
28,695
33,280
38,049
20,611
23,051
29,064
33,790
38,500
20,813
23,052
29,784
33,382
38,500
20,806
23,552
30,122
34,094
20, 806
23,991*
32,824
38,497
19,612
22,610
28,254
33,32a
38,168
39,873
42,274
45,691
48,343
54,092
41,089
42,017
45,890
48,497
55,332
41,419
42,255
46,141
49,297
56,452
41,678
42,608
46,380
49,718
57,858
41,508
43,402
46,314
49,881
58,283
41,590
43,424
46,484
49,947
60,522
47,013
50,192
61,364
74,258
76,991
140,796
202,626
259,115
269,898
81,717
145,316
210,138
262,550
268,603
86,277
148,000
91,057
162,321
2U,369
2U,o64
263,535
267,924
262,565
265,768
97,169
169,166
211,807
262,376
263,918
100,380
170,318
216,537
265,894
262,646
112,471
170,108
232,144
278,682
259,487
253,376
252,366
252,798
257,377
255,251
259,528
253,429
253,902
257,557
260,176
253,101
255,879
257,891
259,221
252,738
256,709
257,236
259,155
252,513
256,805
256,959
258,301
252,563
257,011
257,100
256,981
252,854
257,160
256,731
23
20
29
55
26
79
51
29
Total Federal aecurltlea
193^i.
1935.
1936.
191.3.
191*1..
191*5.
191*6.
1*1.,
618
1*7,809
51,792
279,1.1.5
19't7.
260,01*6
19118.
256,651
252,656
256,392
191.9.
1950.
1951.
256,11*3
255,7ltO
254,748
140,00lt
258,521
252, 3U
251,912
256,370
255,122
Source: Dally Treaaury Statement; Office of the Treaaurer of the United Statee;
for guaranteed securities prior to July 1942, Statement of Contingent Liabilities.
1/ Obllgatlona, laauad by certain Goremnent corporations and other agencies,
which are guaranteed by the United Stf^tea as to both principal and Interest.
27,73^1
38,1156
11,738
1*3,596
31,543
35,052
39,069
41,924
44.419
^7,646
50,9l*a
64,262
Such obllgatlona were flrat authorized In 1932. Prior to
September 1939, the figures represent principal shown as a contingent
liability of the United States; beglimlng September 1939, they represent principal outetandlng, both matured and unoatured. Guaranteed
securities held by the Treasury are excluded.
Aucjusf 1951
21
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended, ( 3I U.3.C.
provides that the face amount of obligations Issued
757 b),
and the face amount of
under authority of that act,
obligations guaranteed as to principal and Interest by
the United States (except guaranteed obligations held by
the Secretary of the Treasury),
aggregate 5275 billion outstanding at any one time.
Obligations Issued on a discount basis, and subject to
redemption prior to maturity at the option of the owner,
are Included In the statutory debt limitation at current
redemption values.
shall not exceed In the
Table 1.- Status under Limitation, June 30, 1951
(In Bllllona of dollars)
Haxljmjm amount of aecurltlee vhlch may be outatandlj3g at any one tine, under limitations Imposed by the
of June 26, I9I16 Dl U.S.C. 757 b)
act
275,000
AaouDt of securities outstanding subjeot to such statutory debt llmltatlooi
U. S.
Goremaent securities issued undsr
the Second Liberty Bond Act, "to attended
•
254,537
Guaranteed securities (excluding thoee held by the Treasury)
29
Total ajDount of securities outstanding subject to statutory debt limitation
20,1*33
Balance issuable under limitation
Source:
25'', 567
Bureau of the Public Debt,
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding June 30, 1951
(In millions of dollars)
Class of security
Treasury Bulletin
22
DEBT OPERATIONS,
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding June 30, 1051 A/
(
Year
and
month
In millions of dollars
Aucjust 1951
23
DEBT OPERATIONS.
Table
1.-
Kteturlty Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding June 30, 1051 ^(Continued)
(In mllllonfl of dollars)
Amount of maturities
Amount of maturities
Yaar
and
month
Deacrlption of security 2/
Fliod
maturity
lesxies
Date
bank reCallable Issues
stricted
claoslflod by
Issues
year of:
becomo
bank
Final
First
eligible
matucall
rity
Year
and
Description of security 2/
mcotb
Issues
U
i960
Fliod
maturity
1
Date
bank roCallable Issues
Btrictod
classified by
Issues
year of:
became
bank
Final
First
ollglblo
matucall
rity
1966
Mar.
2-7/8* Band
-
3/15/55-60
Doc.
2-3A* Bond
-
12/15/60-65,
2,611
2-1/2* Bond
-
3/15/66-71,
3,1*81
2-1/2* Bond
2-1/2* Bond
-
6/15/62-67,
6/15/67-72,
2,003
Sept,
2-1/2* Bond
-
9/15/67-72.
2, 716
Dec,
2-1/2* Bond
-
12/15/67-72.
1*,078
Mar..
I2/1/5I1
I^SS
Total
IA85
2,611
1967
Juno.
1961
June,.
3*
Panama Canal bond - 6/1/61
50
-
Total
,
2,118
8,797
5/5/52
6/15/62
12/15/62
2,118
1962
Juno.
2-lAit Bond
2-l/2j6 Bond
-
6/15/59-62,
-
6/15/62-6?
2-lA* Bond
-
12/15/59-62
Total
5,281*
6/15/52
5/5/52
3,U70
12/15/52
2,118
2,li8
1968
2-1/2* Bond
-
June.
2-1/2* Bond
Dec.
2-1/2* Bond
Doc,
12/15/63-68
2,831
12/1/52
-
6/15/6U-69
3,761
l*/l5/53
-
12/l5/61*-69
3,838
9/15/53
8,751*
1969
1963
June..
Total
2-3A5' Bond
6/15/58-63.
2-1/256 Bond
12/15/63-68.
Total
7,599
919
2,831
2,831
12/1/52
919
1970
2-1/2* Bond
-
3/15/65-70
5,197
2/1/51*
2-1/2* Bond
-
3/15/66-71
3,1*81
12/1/51*
June.
2-1/2* Bond
-
6/15/67-72
2,003
6/15/62
Sept.
2-1/2* Bond
-
9/15/67-72
2,716
2-1/2* Bond
-
12/15/67-72
'',07s
Mar.
196'*
Juno..
2-1/2)6 Bond
6/l5/61t-69.
3,761
'*/l5/53
Doc...
2-1/2$ Bond
12/15/6U-69.
3,838
9/15/53
Total
1971
Mar.
7,599
1972
1965
Mar...
2-1/2* Bond
3/15/65-70.
Doc...
2-3A?' Boni
12/15/60-65.
5,197
2/1/51.
Dec.
Total
Total.
12/15/62
1,1*85
5,197
8,797
1,1*85
Source: Dally Treaaury Statement and Bureau of the Public Debt.
1/ Excludes postal saving bonds.
2/ It shouJLd be noted that callable issues appear tvice In this column,
once in the year of first call and again in the year of final maturity. Callable issues vlth respect to which a definite notice of
call has been made, howeror, are listed as filed maturities. For
date of issue of each security, see "Market Quotations"; for tax
i/
status, see "Treasury Survey of Ownership".
Bank reetrlcted issues may not bo aoqulred by cGomarclal banks (with
minor oiceptlans) prior to spoclfied dates; see "Debt Outatandlng"
Table 3, footnote 1).
Not called for redemption on Septsober 15, 1951, first call date.
Callable on March 15, 1952, Bucceedlng Intarsat paymsnt date.
Less than $500,000.
Treasury Bulletin
24
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
August
25
1^)51
DEBT OPhRATlOKS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Treasury Bulletin
26
DEBT OPERATIONS.
Table 4.- DlepoeUlon of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
HesultB of exchange offers
Called or maturing securltj 1/
Date of
refunding
Ibte of
iieua
Description
or retire-
Disposition offers
by Treasury
Anount
outstanding
ment
Casta
retirement
Szchange
security
offered
(In millions of dollars)
1-1/8* note
l-l/"* Certificate -
I/I/I19-A
12/1/U7
I/I/U9-A
1/1/1.8
2/1/U9-B
2/1/1.8
2,189
3,553
3,535
2,592
6,127
Total
2/lA9
1-1/^ Certificate
-
3/1A9
1-1/S* Certificate
-
3/l/''9-C
3/l/l»8
1./1/U9
1-1/8* Certificate
-
lt/l/lt9-D
U/l/1.8
1,055
6/1A9
1-1/W Certificate
Bond
2*
-
6/l/lt9-E
6/15/1.9..
6/1/U8
U,301
-
1/15A2
Total
7/1/1*9
9/l5/''9
la/is/itg
l,011i
5,315
1-1/8* Certificate
-
7/l/''9-F
7/1/U8
5,783
Bond
-
9lViM..
5/l5/''2
1,292
l-l/"** Certificate
-
IO/1/I19-C
10/1/1.8
6,535
1-iA* Certificate
-
I2/15/U9-H
Bond
3-1/W Bond
2-1/2* Bond
- 12/l5/'t9..
12/15/1.8
7/l5/l»2
- 12/l5/'»9..
12/15/31*
IZ/ViM..
12/15/36
519
2,098
U91
1,786
2*
2*
-
Total
l»,89l.
1/1/50
l-l/l-* Certificate
-
1/I/50-A
1/1/1.9
2/1/50
l-l/U* Certificate
-
2/1/50-3
2/1/1.9
1,993
l-l/U* Certificate
-
3/1/50-C
3/l/l»9
2,922
1,963
3,596
5,695
Bond
-
1-3/^ Note
-
3/15/50
U/1/50-A
10/19/1.2
l'/l/50
u/i/so
1-lA* Certificate
-
lt/l/50-D
U/1/U9
963
6/1/50
1-1/U* Certificate
-
6/1/5O-E
6/1/U9
5,019
7/1/50
1-1/U* Certificate
-
7/1/5O-F
7/1/1.9
5,601
-
0/15/5O-O
9/15/50-52
9/15/50-52
9/15/'»9
9/15/50
1-1/8* Certificate
2-1/2* Bond
Bond
2*
1»/15/U3
1,197
1,186
I*,
939
IO/I/50-H
IO/1/U9
6,21.8
12/15/50
1/1/5I-A
6/1A5
2,635
5,373
3/15/50
2*
9/I5A8
Total
5,559
-
9/15/38
Total
10/1/50
12/15/50
7,322
1-1/8)6 Certificate -
1-1/2* Bond
1-1/8* Certificate
-
1/1/50
Total
U/l/51
8,008
2-1/2* Bond
2-1/2* Bond
6/15/67-72
12/15/67-72
6/1A5
11/15/1'5
Total
6/15/51
19,656
2-3A* Sond
1-lA^ note
-
i-iA'.i Kote
-
i-iA? Hoto
6/15/36
3/1/50
-
6/15/5I-5U
7/1/51-B
7/1/51-C
7/1/51-D
-
8/1/51-E
7/1/50
-
i-iA* Note
1,627
2,71*1
i»/l/50
886
6/1/50
1*,818
Total
S/1/51
7,967
11,689
10,072
5,351
-
fachan^ed
Auciust 1951
27
.UNITED STATES SAVHJGS BONDS.
United States aavlnge bonds were first offered for
sale In March 1935 and began to mature In March 19U-5.
Series A-D were sold from March 1935 to April
have been on sEile since May
E, F, and
Series
and
redemption
19'H.
throughout.
1914-1
1,
Beginning In May 1951, holders of maturing Series E bonds
to redeem them In oaeh, to retain
have three options:
them with an extended maturity of 10 years at specified
rates of Interest accrual, or to exchange them for Series Q
bonds.
Series A-F sales are shown at issue price and
total redemptions and amounts outstanding at current
Further Information on these options will be found
in the "Treasury Bulletin" issue for April 1951> Page A-1,
Series
is shown at face value
Matured bonds which have been redeemed are
included in redemptions. Matured bonds outstanding of
values.
Series A-D were included In the interest-bearing debt
until all bonds of the series matured, when they were
transferred to matured debt upon which interest has
ceased.
Savings bonds data by denominations and the
amounts of sales by States are published on a monthly
and information on the terms and oonditlone of the various
basis but do not appear in each issue of the
series of savings bonds appears in the annual reports of
Bulletin".
the Secretary of the Treasury.
Table 1.- Sununary of Sales and Redemptions by Series, Cumulative through June 30, 1051
(Dollar amounts In mllllonfl)
Series
"Treasury
Treasury Balleiin
2i
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, B, F, and G by Periods
(In mllllonfl of dollars)
Salee
Accrued
discount
5/
Bsdemptlons 2/
Sales plus
accrued
discount
Salee
price
^
Amount outstanding
Accrued
discount
Matured debt
(Series A-D)
In teres tbearlng debt
Fiscal years:
1935-19"^
igUU
W"*?
19U6
i9>n
2U6
92
96
103
106
107
19>>B
uo
19'»9
101
68
25
3,9'»9
19't3
1950
1951
U,195
92
96
591
88
79
103
106
IM
572
82
72
117
309
2I.2
107
110
101
68
25
1.82
370
393
530
812
593 P
516
703
1,081
800
3,601.
19
6
8
25
67
113
123
172
269
207 P
18
1.0
59
73
92
3,608
3,625
3,585
3,365
2,968
2,51*3
1,927
895
212
Calendar years:
1935-'t2
3,9't9
WltS
iglili
191*5
igiifi
igk?
igitS
,
igio
1950
291
9U
100
105
107
109
108
86
,
lt,2U0
91.
100
105
107
109
108
86
637
81
78
226
390
615
22
7
71
1*81
70
179
302
367
576
838
1,023
631
768
3,603
3,616
3,638
8
1*7
1.36
Ul
87
122
3,1*77
3,11*8
2,71*2
11.6
2,250
203
229
1,1*1*0
87
IIU
139
207
255
lU
16
11
87
81
77
850
796
759
72
69
229
1*37
Months:
1950-July
August. . .
September
56
1*2
61.
US
U2
32
56
50
70
1.2
November .
December.
37
52
lU
12
17
1951-January .
February .
March
120
85
115
90
30
61.
21
361.
86
89
257
April
May
June
69
51
1.9
20 p
18 p
286
235
2J2
October...
.
23
Series £, F, and G
Fiscal years:
661.
19ltl
igltZ
19''3
,
19'il>
,
19l>5
I9I16
19'»7
19U8
19''9
1950
1951
Calendar years
191*1
19'i2
19't3
19Wt
19U5
19l»6
WiT
igitS
19l<9
1950
Months:
1950-July
Augiut. ..
Septeuber,
October...
November
December.
.
1951-January...
February
March
.
April
Hay
June
p
33 P
17 p
6p
710
661.
1*37
lOU
97
August 1951
29
UNITED STATES SAVINGS BONDSTable 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods
V
Sales 1/
Fiscal years:
203
191*1
191*2
191*3
I9UU
191*5
191*6
191*7
191*8
r>9
1950
1951
Calendar years:
191*1
191*2
191*3
191*1*
191*5
191*6
191*7
191*8
191*9
1950
Months
1950-July
August. .
September.
.
October.
November.
December.
.
1951- January
.
.
Febriua-y .
March
April
Itay
June
Accrued
diecount
Dollar
QiaooiitQ
Sales
plua
accrued
discount
li.
-
(Continued)
3i3Lllona;
Bodemptlone 2/ i/
Sales
price
Accrued
diecount
Amount
outstanding
(interestbearing debt)
Percent of nt>nt!ily
redemptions
to aiDO'jnt
outstanding
Treasury Bulletin
30
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redenptlons of Series A-D, E, F, and G by Periods
(Dollar amounta in i&lllions}
Period
(Continued)
.4iu/tjsf
i95l
31
UNITED STATES SAVINGS BONDS.
Table 5.- Sales and Redemptions of Series E and F and G by Denomi nations
(In thousands of pieces)
Series F and G coablned
Total, ail
denom$ 10 1/
inations
$25
$1,000
Total, all
dencaInationa
$50
$100
69,686
32,083
14,693
7,803
7,777
1,311
801
816
8,218
3,535
2,065
1,645
1,571
6,322
2,800
2,121
2,241
2,238
9,463
3,326
2,323
2,074
1,630
916
917
786
1,569
1,413
1,036
2,322
1,995
1,290
1,378
1,114
$200 2/
$500
$100
$500
$1,000
592
291
J26
43
31
3,408
1,156
649
466
385
1,425
532
371
345
279
3,166
1,071
937
970
747
28
311
275
191
$25 1/
$5,000
$10,000
Fiscal years:
liJltl-Uli
19^5
19"^
19^7
W^fl
579,568
303,116
165,039
71,356
53,971
9,223
8,505
2,095
522
209,1.8c
'•5,076
36,11.6
02,088
45,995
24,274
10,896
9,901
39,l»0O
11,425
l.ll.,253
112,071
19''9
61.,
576
391.
1950
1951
6U,30U
335
39,150
U,e4l
61(,299
1
'*1,751
11,786
8,550
8,654
7,649
86,279
24,554
8,492
7,650
8,246
10,089
2,984
1,505
1,607
1,603
7,655
2,669
1,870
2,223
2,352
U,249
769
918
803
879
810 p
26
20 p
214
180
119 P
556
486
300 p
423
128
117
128
97
73
63
38 p
450
148
124
122
90
197
84
142 p
Calendar years
739, OUl
253,078
93,502
62,57U
61,813
19Ul-lil*
19l»5
191^
W""?
WltS
65,118
62,929
19''9
1950
79
66
55
2
1
2
20
18
15
14
11
9
36
4
29
23
3
2
18
2
2
14
17
11
8
10
29
20
24
71
62
59
2
17
11
16
16
9
10
30
25
26
4
2
3
7
4
21
18 p
18 p
2
2 P
2 P
2 P
2 P
39,572
39,050
ll,8e6
11,660
8,688
8,253
933
865
1,514
1,257
2,213
1,703
172
985
944
873
713
645
76
67
61
115
92
81
150
109
94
69
62
79
72
90
101
87
105
114
84
971.
'•35
371
Hi
5,380
5,023
3, ''61
3,21.8
1,000
5,711.
3,700
1,063
660
618
686
5,698
5,095
3,587
3,300
3,901
1,028
929
1,050
720
600
642
78
62
64
3,644
3,725
3,776
988
1,002
995
592
592
588
58
58
57
208,207 155,894
5,545
3,177
3,018
5,81.5
5,W6
5,527
5,562
Inception to date 1,371,227
517
4l6
62,769
39,219
37,659
October.
November.
December.
April.
May...
June.
197
155
l.,191
106,459
37,773
13,757
10,099
10,640
3,211.
.
293
242
65
068
27
24
172,9't8
5,253
5,035
It, 720
.
3,727
978
957
871
629
521., 977
1950- July
August. ,.
September
1951 -January...
February.
March . .
1,718
447
340
314
240
490
29
4,065
899
491
420
343
3,5f!2
11,381
21,075
938,127
928
593
2,807
2,098
1,863
1,529
134 4/
64 5/
80 4/
751
224
56
36
83
171
120
105
73
90
51
2
70
69
80
42p2/
15
12 P
13 P
6,841 p
2
77
45p
1 P
1 P
21,051 21,327
22,117p
1,156 P
_1_
Redemptions
Fiscal years:
76
189
246
462
600
1,141
1,105
1,115
349
431
877
900
1,004
254
341
600
746
859
284
334
467
1,077
1,069
1,354
1,035
1,088
1,478
925
922
n.a.
9,086
165
213
273
724
809
1,236
1,077
1,134
534
595
975
920
1,065
407
427
728
800
917
8,065
9,081
302
404
1,046
1,220
1,025
1,292
915
977
1,271
1,318
1,154
857
915
816
38
41
38
117
124
112
122
132
119
86
85
93
4,488
4,076
4,632
1,170
1,053
1,188
840
744
813
39
35
38
114
99
108
124
107
117
90
5,655
4,369
4,230
1,446
1,174
1,112
1,026
849
788
48
144
57
49
42
40
U8
165
133
105
U7
47
46
47
3,980
4,346
4,425
1,053
1,104
1,114
746
767
773
36
37
35
102
106
104
113
659,893 ,125,110
TS.OlA
1,595
7,921*
7,163
4,821
7,380
13,205
10,713
9,387
8,450
8,155
9,933
1,317
6,247
4,109
2,052
87,874
111,061
145,094
88,836
65,331
10,621
16,843
26,344
17,872
14,302
1,369
1,017
701
54,809
52,101
54,786
12,623
12,346
14, 160
168,109
173,396
163,115
102,977
85,888
179
3,971
5,802
2,897
1,595
140,501
135,267
113,862
72,911
59,265
18,110
22,579
23,111
15,295
13,470
8,061
10,174
12,965
76,933
79,176
1,217
835
52,996
53,087
12,284
13,257
7,517
7,702
6,757
80
71
September.
65
5,031
5,101
4,453
October. .
November.
December.
6,837
6,166
6,952
61
51
55
8,554
6,742
6,441
71
6,077
6,521 5/
6,611
1941-44
1945
1946
1947
1948
104,127
137,633
192,985
123,725
93,438
79,646
76,109
82,879
1949
1950
1951 P
Calendar years:
I9U1.44
1945
1946
1947
1943
1949
1950
1950 -July
August.
. .
1951-January,..
February..
March
April p.
May p...
June p.
iDceptlcQ to date p
390,541
16,812
9,661.
116
113
87
83
81
76
98
13
9
8p
9 P
3,465 p
U5
127
U4
83
57
499
145
126
109
205
74
175
3
5
3
4
3
69
16
23
2
8,232 p 1,066 p 1,358 p
Treasury Bulletin
32
.UNITED STATES SAV3MGS BOHDS.
Table 6.- Sales of Series E Savings Bonds by States
(In thousands of dollars at Isaiie price)
Inception
through
June 30,
1951
State
Alabama.
Arizona..
Arkansas.
662,91*2
216,507
386,077
U,691,796
California.
Colorado....
Connecticut.
'»93,301
1,0117,882
Delaware
District of Columbia
Florida
Georgia..
Idaho . .
Illinois.
1,922
665
1,193
1,601
1,791*
823
876
1,299
1,1*25
20,669
3,012
16,588
15,967
1,861
2,779
15,800
2,173
1*,911
61*1*
2,01*8
3,631
l*,312
Dec.
Fei.
Mar.
Apr.
Ma;
June
2,011
681
1,297
1,941
806
1,246
2,337
1,114
2,132
2,653
886
1,667
1,832
839
1,492
2,085
769
1,475
2,122
564
1,373
1,729
749
1,237
14,885
2,o8e
3,770
15,421
2,001
4,177
20,362
2,800
4,974
14, 608
1,878
3,856
15,705
1,946
3,779
14,199
1,755
3,617
13,634
1,825
3,819
13,346
1,742
3,745
529
2,929
2,764
544
668
3,459
3,400
492
3,220
3,812
535
2,596
2,837
6U
3,141
2,788
2,862
3,011
459
2,886
2,709
2,736
2,570
2,520
491
20,840
3,989
447
20,368
2,494
666
31,566
3,212
462
22,070
2,775
428
2,751
23,893
22,319
2,754
337
20,166
2,303
325
19,841
6,597
6,318
3,144
9,423
11,771
7,604
6,207
7,452
7,042
6,779
6,575
6,416
3,300
7,112
5,907
3,145
5,889
5,067
2,594
539
3,826
605
3,333
1*73
IW
3,U7
736,57'*
1*,152
2,1*58
2,787
3,152
2,576
730,1*37
185,81*7
3,606
693
31,060
2,392
316
2,539
1*61*
1*J*0
777,228
23,61*3
21,010
21,532
1,636,290
1,610,027
9,361
9,995
6,812
7,097
5,275
3,228
7,085
5,691
3,31*1
6,514
5,568
3,180
'*,815
4,a9
2,693
2,330
2,231
996
2,109
2,007
916
1,934
2,370
1,047
3,168
2,983
1,295
3,l40
2,449
926
3,103
2,000
846
2,382
2,106
2,302
2,044
936
2,209
1,962
882
3,238
7,663
1U,996
2,939
7,638
15,143
2,823
8,506
15,098
3,937
10,194
18,862
3,381
7,808
14,826
2,784
7,402
15,848
2,892
7,173
15,066
2,776
7,691
16,380
2,711
7,424
13,198
4,549
1,139
6,653
6,558
1,977
9,311
5,003
l*,389
4,084
1,168
6,908
4,057
1,075
6,556
253
919
3,663
227
900
3,079
258
535
10,368
504
528
10,158
500
536
9,836
463
1*,
Eaatucliy..
LoulBlana.
Maine
Maryland
Massachusetts
Michigan
Oct.
2,815
1,176
1,825
ll»2,683
751,
.
Indiana.
Iowa....
Kansas .
1951
1950
Sept.
Aug.
July
91*5,556
1*,622
660,818
659,669
260,317
I*,2l6
2,769
1,572
1*,980
3,1*01
2,709
2,196
970
2,038
827
2,500
313
519
870
1,959,1*69
9,711*
2,871
7,610
2,1*73
7,011*
3,209,322
19,136
ll*,771
15,027
1,318,170
6,916
1,609
10,053
'*,563
1*,1*75
911*
1,151*
5,021*
1,11*3
7,526
6,877
7,860
4,610
1,050
6,675
7,571
4,546
1,306
7,432
1,151*
2,51.0
983
808,631*
1,1*17
1*,931
70, a3
366
220
1,015
3,151
306
1,036
3,100
225
1,290
2,989
240
1,756
4,302
325
1,187
4,302
268
1,074
5,717
225
New Hampshire.
New Jersey ....
New Mexico, . .
162,121*
2,263,81*0
11*2,786
737
13,271
952
528
10,990
598
11,308
606
503
10,270
530
10,417
608
538
11,453
579
709
14,996
697
556
10,972
702
U,194
Now York
North Carolina.
North Dakota. ..
7,1*72,881
77l»,976
1*2,939
33,881
2,000
29,570
2,212
969
33,196
2,520
979
30,555
2,647
1,312
34,724
2,489
1,317
49,826
4,133
1,659
34,275
2,775
1,186
33,589
2,390
970
30,957
2,330
29,827
2,364
867
27,954
2,562
Ohio
Oklahoma.
Oregon. ..
3,707,211*
71*8,703
19,771
16,31*8
1*,595
15,816
2,623
2,616
1,861*
3,202
1,989
15,962
3,320
1,656
15,610
3,658
1,942
23,162
4,912
2,644
18,288
2,914
713,077
16,517
2,968
2,203
17,813
2,873
1,899
15,990
2,787
1,565
16,924
2,566
1,810
16,043
2,426
1,762
71*2,935
328,1*1*6
29,561*
1,581*
1,636
23,065
1,251
1,253
23,765
1,156
1,257
22,101
1,257
1,230
23,966
1,386
1,199
32,772
1,667
1,591
25,858
1,367
380,612
22,889
1,285
969
1,364
25,243
1,256
1,186
23,704
1,088
1,237
23,397
1,324
1,231
23,444
1,209
1,252
1,903
3,079
769,585
Minnesota.
Mississippi.
Missouri. ...
.
1*01,539
1,615,718
Montana .
Nebraaka.
Nevada. .
309,099
325,81*9
Pennsylvania.
Khode Island...
South Carolina.
1*,
.
South Dakota.
Tennessee. . ..
Texaa
Washington. .
West Virginia.
Wisconsin
Wyoming
.
Alaska
Canal Zone
Hawaii
Puerto Klco
Virgin Islands
Other possess Ions .
961*
521*
1,813
642
647
1,159
6,844
88e
4,788
793
2,1*17
1,016
712, U6
2,936
10,785
2,101*
7,082
1,216
2,11U
7,956
1,397
2,079
8,280
1,443
2,012
7,869
1,402
2,068
8,029
U,66l
1,554
3,059
8,835
1,524
2,112
8,066
1,567
2,261
7,580
1,753
2,075
7,241
1,438
1,897
7,068
253,11*9
93,1*99
1,256
725
308
3,930
971
295
3,983
806
314
3,847
873
442
5,248
716
339
4,096
763
249
3,939
278
1,032,368
697
229
3,392
773
U,89lt
4,143
810
277
3,482
767
271
4,206
726
284
3,119
1,155,591*
l*,906
3,71*9
3,663
560,882
3,071
7,755
925
2,373
6,162
U63
2,21*1*
4,093
2,955
6,017
572
3,267
2,526
5,376
532
3,571
3,237
5,292
544
5,165
5,924
7,825
730
3,559
3,338
5,653
656
3,669
3,013
5,182
525
3,850
2,752
5,039
474
3,403
2,580
5,178
484
3,407
2,475
5,359
378
n.a.
172
n.a.
n.a.
316
645
n.a.
240
969
n.a.
203
108
911
115
3
4
n.a.
197
887
89
5
n.a.
72
2
n.a.
206
831
126
4
1,385,61*3
126,591*
1*77
5,699
535
n.a.
n.a.
n.a.
1)1,282
293,71*1
1*1,266
281
906
109
31*5
287
757
1,991
7
51
30,0751/
.
3,223
1,866
1*81
3,250
228
i,ai
352,921
2,338,200
Utah
Vermont..
Virginia.
3,872
1*,393
790
93
5
93
12
91
35
381
63
2
257
1,120
75
3
206
885
65
9
100
6G4
90
4
Adjustzoent to Dally
Treasury Statement
Total 2/.
+722,851*
-ll*,876
+21*, 71*5
+5,837
+19,71*6
+7,593
+33,216
-7,060
+7,368
+17,847
+11,627
+7,973
+20,130
61,969,1*70
317,590
269,657
21*4,017
271,201*
246,109
283,787
342,529
272,454
280,203
253,717
246,502
244,341
Source: Dally Treasury Statement and reports from Federal Reserve Banks.
1/ Cunulative throi^ March 31, 1947.
2/ Beginning with June 1947, Includes f^fln amounts of unclassified eales
consisting of Series E, F, and G. These amounts are substantially
leas than the soles reported as unclassified in the Dally Treasury
Statement The greaLter part of that Item consists of sales for
which infomation is available as to the series but not the year of
issue. Prior to June 1947, it was possible to distribute by series
all sales reported ea unclassified in the Daily Treasury Statement.
Not available.
August 1951
33
UNITED STATES SAVINGS BONDS.
Table 7.- Sales of Series F and G Savings Bonds Combined by States
(In thouBaods of dollars at Issua price)
Inception
through
June 30
1951
Alabama.
Arizona,
Arkanaaa.
California..
Colorado. . .
Connecticut.
Delaware
District of Columbia.
Florida
Georgia.
Idaho. .
Illinois.
Indiana.
lova. ,.
£entuc]£y
,
Louisiana.
Maine
7U3
1*29
687
192
226
l*,215
3,726
672
639
1*36
388
397
1*01
1,679,101
227,753
7,015
962
l*,539
519,1*13
1,1*77
665
1,097
93,965
1*53
1*93
21*0,890
639
1,317
763
81.6
2,230,366
708
11,120
666,333
3,713
763,151*
31*2,223
1*,700
1,321*
3U1*,927
1,1*78
21*9,1*67
1,180
575
156,028
Maryland
Massachusetts.
Michigan
Sept.
ll8,76lt
300,128
1951
July
202,367
62,620
21*3,171
63,01*1
.
1950
Aug.
1,263
109
685
867
Jan.
1,515
367
281
637
208
501
856
345
914
1,175
332
372
17,91*2
6,897
5,273
6,537
2,139
11,109
652
5,543
8,233
1,241
3,774
1,331
1,332
1,1*67
189
267
5,458
756
2,013
4,449
2,103
440
416
293
172
2,717
2,671
920
1,865
1,664
378
1,722
1,694
62
639
981
370
2,1*76
2,21*5
1,866
1,001
32,917
1,504
265
17,896
1,085
1,240
15,575
1,642
283
12,986
817
157
12,986
624
569
8,982
437
111
6,220
2,883
3,234
1,159
5,360
5,480
1,338
4,731
5,203
2,351
2,989
3,173
2,676
2,664
4,942
1,794
816
781
252
1,382
2,572
320
2,462
1,762
626
2,625
849
426
3,290
9,466
7,433
1,521
6,481
5,675
2,011
6,782
5,371
1,710
5,082
3,725
2,381
1,336
3,384
6,834
403
5,419
3,012
870
5,327
3,473
482
3,220
553
3,102
577
2,067
675
7,1*71*
7,31*1*
2,690
2,525
2,291
2,317
1,318
9,169
1,371*
1,090
866
1,368
516
1*,290
1*22
180
2,61*1*
5,21*3
1,902
1»,335
1,197
1,151
l*,l*08
3,318
3,11*7
2,271*
26,21*5
789,610
3,551*
2,121
2,31*9
12,771
Minnesota..
Mississippi.
Missouri.,,,
566,51*5
1,768
1,628
131*, 285
2,215
736
21*5
1*27
521*
71*6,713
3,1*07
2,836
2,571*
6,009
Montana.
Nebraska,
Nevada. .
96,081
357,305
26,761
1*65
1,199
756
1,1*25
11,31*9
2,569
1,152
3,811
50
166
1,389
58
160
1,1*93
32
52
872
123
New Hampshire.
New Jersey . .
New Mexico .
101*, 371*
237
272
832,519
3,11*2
2,1*71*
253
2,312
153
1,598
9,009
157
289
2,282
410
248
2,751
22,472
1,202
446
36,675
1,861
1,974
26,646
2,074
522
17,053
1,148
350
6,252
1,140
1,014
9,242
1,730
1,047
11,124
2,261
1,596
4,381
612
591
.
7,252
64
445
4,798
328
76
2,742
241
51,1*77
11*5
225
New York
North Carolina.
Worth Dakota.
4,1*51,91*1
289,338
12,168
879
9,575
521
112,^
U63
10,793
638
260
351*
113,067
1,263
1,018
Ohio
1,1*87,188
5,635
569
580
1*,572
l*,81*7
ll*,781*
212,572
217,589
619
560
1*27
51*6
3,999
6,937
2,089,1*26
195,1*25
8,205
6U9
15,990
290
330
2,1*99
7,591
1,253
l»6U
6,338
569
260
6,31*3
137,869
1,812
502
9,306
572
1,702
13,043
740
549
6,900
639
454
112,752
556
1,106
2,375
1*90
1*51
1*63
9U0
2,015
936
3,357
638
2,846
3,695
605
2,463
4,554
528
1,651
5,266
492
981
2,222
173
791
1,120
510
372
1,109
438
386
59
499
976
5,«8
8,632
1,811
6,618
161
.
.
.
OklahcEoa.
Oregon
.
.
Pennsylvania. .
Rhode Island...
South Carolina.
South Dakota.
Tennessee. . .
Texas
Utah
Veimont..
Virginia.
Washington. . .
West Virginia.
Wisconsin
Wyoming
Alaska
Canal Zone ..,••••••
Hawaii
Puerto Rico
Virgin Islands
Other possessions....
ComLiercial banks 2/..
Adjustment to Daily
Treaaury Stateaaent.
Total 2/
268,1*39
719,651*
58, U3
58,132
335,709
111
263
1,087
151*
671
1,296
631
2,229
257
380,506
H*8,88o
721*, 217
3,680
1*5,669
113
5,31*9 1/
7,1*06
70,1*15
ll*,ll*l
1*1*6
11
92
138
773
1,81*2
139
59
718
1,1*41
739
7,895
1,563
7,356
201
331*
2,792
299
n.a.
8
n.a.
231*
210
28
253
1,800
596
374
4,876
69
n.a.
4
401
19
1,396
173
45
326,613
52,038
66,675
-4,654
+5,996
3
1,369
2,128
1,889
1,136
4,785
391
2,609
78
n.a.
11
266
1
40
ash
9S0
1,767,101
852
1,137
1,662
393,21*3
1,330,81*6
782
533
272
190
1*,778
2,1*13
762
156
1*0
Apr.
673
n.a.
2
133
•29,795
+a6i
+3,753
-I*, 605
-11,835
28,551
+7,131
27,875,667
99,565
80,691
65,899
700, 133!;/ 190,1334/ 257, 5941*/ 132, 943
113,929
LL
LU
79,052
351*
736
May
Treasury Bulletin
J^
TREASURY SAVINGS NOTES,
Treasury tax and Bavlngs notes have been Issued In
Tax Series A from August 1, IS^l, through
June 22, 19'*3; Tax Series B from August 1, igl^l, through
September 12, 19'+2; Savings Series C (originally designated
ment yields, and tax payment or redemption values of
Series A and B, see "Annual Report of the Secretary of th*
Treasury" for 19*^2, pages 207 and 220, and for sales and
Tax Series C) from September lU, igltS, throu^ August 31 I9M;
Savings Series D froa September l.iglW, through May 1"*, 1951;
redemptions by fiscal years and months, see 'Treasury
Bulletin" for February 19U6, pages kZ and ftj.
five serlee:
,
and Savings Serlee A beginning on May I5,
and redemption and Investment yields of Savings Series A
appear
Invest-
1951-
Details concerning terms and conditions for purchase
In the June 195I Issue of the "Treasury Bulletin",
page A-1.
Issue. For details concerning terms and conditions,
Similar Information with respect to Savings Series D
In the following tables sales and radeaptlona of
Treasury savings notes are shown at par value. Matured
notes redeemed (either for cash or for tax payment ) are
Included In the figures on redemptions. Matured notes
outstanding are reflected In the Interest-bearing debt
will be found in the October igUa and September 19U9 Issues,
until all notes of the series have matured, when they are
and with respect to Savings Series C In the October 19'^5
transferred to matured debt upon which Interest has ceased.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through June 30, 1091
(In jullllons of dollars)
Series
August 1951
35
OWNERSHIP OF FEDERAL SECURITIES.
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(Xn millions of dollars)
End of
fiscal
year
or month
Treasurij Bulletin
36
OWNERSHIP OF FEDERAL SECURITIES,
Table 3.- Bstimated Ownership of Federal Securities by Bank
and Nonbank Inveators
(Far valuet 1/ la biLIions
oi.
dollara)
Held by nonbank Investors
Held by banka
otal
Federal
eecurltles
outstand-
End of
month
y
Coomerclal Federal
InBui'ance
Reeejrve
ccmpanlea
Bazike
Saving!
bonds
Mutual
eavinge
banks
Corporations
^
State and
local
govem-
U. S.
OoverrDuent
InveBtsnent
KlacellaneouB
Investors
menta 6/
accounts jj
1/8/
6.5
.
1.7.6
18.
15.9
2.5
29.3
1.9
8.2
6.3
3.1
19^0- June
December .
18.6
19.5
16.1
17.3
2.5
2.2
29.9
31.5
10.1
10.6
2.6
2.8
7.5
7.9
6.5
6.9
3.1
3.2
2.1
2.0
.1.
.
U8.5
50.9
19Ul-June
December.
55.3
11.2
13.6
3.6
7.6
8.2
7.1
8.2
3.1.
2.0
.6
21.lt
2.2
2.3
33.5
61».3
21.8
23.7
19.7
,
3.7
1..0
.7
28.7
26.0
Ul.l
2.6
6.2
1.8.3
9.2
11.3
1'.9
.9
13.1.
8.7
10.3
3.9
65.2
17.8
23.7
9.1
.
77.0
112.5
1..5
10.1
1.0
7.2
11.5
98.7
30.9
37.6
21..
11.7
12.9
13.1
15.1
12.9
71.5
52.2
59.9
5.3
.
IUO.8
170.1
59.1.
December.
6.1
16.1.
1.5
2.1
I9UU- June
December.
202.6
232.1
83.3
68.1.
17.3
19.6
7.3
8.3
3.2
77.7
119.3
135.6
20.0
96.5
1U.9
18.8
11..
.
21.1.
1..3
WliS- June
December...
259.1
278.7
106.0
115.0
.2
21.8
90.8
21* .3
22.9
22.0
6.5
19li6-Febnjar3r (Peak)
279.8
269.9
259.5
116.7
108.2
97.9
93.8
71..
258.1.
91.9
91.3
1939-D«cemb©r.
igUS-June
December .
19U3-Juiie
June
December.
.
I9't7-June
December.
.
19U8-Maroh
257.0
253.1
Jiuie
252.1.
September.
December.
.
252.7
252.9
June
Septanber.
December. .
251.7
252.8
256.7
257.2
19119-March
I95O" January ....
February . .
March
April
May
1.7.3
86.0
85.9
85.8
85.8
82.2
82.1.
8U.5
85.7
1.0.6
81.
31.2
36.2
153.1
163.6
58.9
63.7
U0.7
12.9
20.7
22.7
2U.2
9.6
10.7
22.9
23.8
23.3
163.1
161.7
161.6
63.7
63.0
63.8
1.3.3
20.1.
21..
1.3.5
U1..2
19.5
19.7
25.1
25.2
11.1
11.5
11.8
19.9
17.7
15.3
6.7
6.5
6.3
70.0
68.7
21.9
22.6
166.5
165.7
66.0
65.3
1.5.5
1.6.2
20.5
19.1
21..
12.1
12.0
13.9
7.1
7.3
65.1
20.9
21.1.
65.1
65.3
65.5
23.3
65.1.
U7.8
18.2
18.1
18.0
17.5
23.6
23.1
22.3
21.5
12.1
12.0
62.5
167.0
166.
166.9
167.1
1.6.9
.6
62.1.
11.5
11..
7.9
60.5
63.0
66.5
66.8
21.7
169.5
1.8.5
1.8.8
11.6
172.2
171.5
17.7
17.8
17.7
16.9
21.3
19.3
18.0
18.9
66.2
66.6
66.8
66.2
20.8
20.5
20.5
U.6
U.6
ll.h
15.1
15.1
16.0
16.3
7.9
8.0
8.0
8.0
17.8
17.7
17.6
171.6
172.2
173.2
66.3
66.6
66.6
U9.I.
16.9
17.0
16.9
20.5
20.5
20.5
U.5
16.8
11.5
11.6
17.2
18.1
8.0
8.0
8.U
66.8
67.0
67.2
1.9.8
1.9.8
17.0
17.2
17.3
20.5
20.3
20.1
11.6
11.6
11.6
17.7
18.1
18.3
8.3
8.2
67.1.
67.1.
1.9.9
17.5
17.6
17.6
20.1
20.0
19.7
11.5
18.8
19.5
11.2
19.5
8.3
8.3
8.2
19.5
19.2
19.0
U.l
10.9
10.9
19.9
20.2
19.9
8.1
8.1
7.8
81.
8U.1.
61.
23.1.
170.1.
256.9
85.3
67.1.
256.1.
81.
.2
66.
255.7
82.5
61..
255.7
83.0
83.2
83.9
65.2
65.8
65.6
17.8
18.3
172.7
173.2
173.5
82.6
61.
.6
18.0
171. .9
18.1.
June
July
August
September ,
257.6
257.9
257.2
82.1.
61..
81.8
62.2
19.6
175.5
175.5
October.
November.
December.
257.0
257.1
256.7
81. 1.
81.2
82.6
62.2
61.5
61.8
19.3
19.7
175.5
175.9
20.8
256.1
256.0
255.0
8l.l.r
80, &•
59. 9r
58.9
57.9r
25I..7
81.3
80.5
58.5
57.9
.
.
.
1951- January ....
February
March
April
May p
.
.
255.1
80.8
19.2
52.9
256.1.
257.1.
.
5.1.
.5
17.1.
1.6.0
1.7.1
1.7.6
1.9.1
1.9.3
1.9.6
1.9.7
1*9.9
U9.8
16.7
18.3
21..
U.7
U.U
llt.l
11..
13.5
13.9
5.3
7.8
7.8
7.8
8.1*
67.3
1.9.7
1>9.6
171..
67.2
67.2
66.7
1.9.6
17.6
17.6
17.1
21.5
21.9
22.9
171.. 8
66. Ur
1.9.5
16. 9r
175. Ir
171.. 2r
66.2T
65. ar
1.9.1.
l6.8r
16. 5r
18.8
18.7
18.2
10.8
10.7
10.5
20.3r
20. 8r
21. 3r
7.8
7.9
7.9
22.7
2S.5
173.5
65.7
65.6
16.5
16.5
17.8
17.6
10.1.
21.2
21.8
7.9
8.0
17I1.7
1.9.6
1.9.3
1.9.2
1.9.1
10.3
7.1
7.6
August 1951
37
.TREASURY SURVEY OF OWNERSHIP, MAY 31, 1951.
The Treasury Survey of Ownership covers securities
Issued by the United States Government and by Federal
agencies. The banks and Insurance companies Included
In the Survey account for approximately 95 percent of
such securities held by all banks and Insurance compeuiles
Data were first published for
In the United States.
March 31, iglH, In the May 19"*! "Treasury Bulletin".
Section
I
-
Additional information showing the holdings of commercial
banks distributed according to Federal Reserve member
bank classes and nonmember banks is published for June 30
and December 3I.
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par veluea
Claaalfloatlon
Information on the distribution of ownership by types
of banks and Insurance companies la published each month.
-
In millions of dollars)
Treasury Bulletin
3S
.TREASUPY SOHVEY OF OWNERSHIP, MAY 31, 1951-
Section I - Securities Issued or Guaranteed by the United States Government
Table 3. - Interest-Bearing Public Marketable Securities by Issues
(Par values
-
In mlUlons of dollars)
Held hy Investors covered In Treasury Surrey
Isaue
(Tai status 3/ Is shown In parentheses)
Total
Bnount
outstanding
Treasury bills
(taxable)
13,6ll»
Banks l/
Insurance companies
7,177
528
ccsiraerclal
mutxial
2/
savings
319
life
612 fire,
casualty,
and marine
U, S. Government
Investaaent
accounts and
Federal Keoerve
Held by
all other
investors
xf
BanlLS
2,981
127
81*7
57
679
701
20
1.
51
16
71
'
137
1,098
3,923
Treasury notes
l-l/lt^ July
l-l/U,; July
1951-B
1951-0
886
29'*
1951-I>
(taxable)
(taxable)
(taxable)
2,7l'l
1-lAJ July
l»,8l8
1,268
22
1-l/U^ August
1-lA? October
1-l/lt^ October
1951 -E
1951 -A
1951-F
(taxable)
(taxable)
(taxable)
5,351
1,918
5,9'H
1,29U
766
12
7
66
15
32
13
378
3
28
21*
'•,510
1-1 As' November
1-3/8^ March
1951 -G
(
5,253
375
3,696
1955-A
1955-B
1956-EA
5,365
'',238
6,85lt
2,538
5
30
ik
20
U9
'*,675
l-l/2)t l-larch
1-i/ki, December
802
15,5^*7
158
(partially)
(taxable)
(partially)
1,627
7,986
755
1,115
2
'*,617
lltS
1*91
2
2l»
(partially)
(taxable)
(taxable)
1,118
510
966
369
532
6
•S
16
l,02ll
97
(taxable)
taxable
(taxable)
5,825
1,501
8,662
3,929
1,028
6,223
U5
(partially)
(partially)
(partially)
725
681
2,611
659
585
1,785
2-3 Aii September 1956-59
2-lA^ September I956-59
(taxable)
(partially)
(taxable)
1,U49
982
3,823
1,136
85U
2,975
2-3A/i June
1958-63
S-SA/S December I96O-65
2-1/2^ September 1967-TS
(partially)
(partially)
(taxable)
919
1,U85
2,716
819
W.,398
l-lASS April
I95I1-A
taxable
(taxable)
(taxable)
(taxable)
(taxable)
Total Treasury notes
5
129
1,077
1,736
1(29
2,229
2,157
1,085
998
21*
3,nu
113
82
2l»5
95
3,23't
1,636
591
919
966
297
59"*
15,068
12,136
2U
39
237
110
755
362
2,207
237
no
29
8
66
78
IU9
136
38
138
k6k
113
298
1,170
157
1,689
2
1
2
1
23
32
81
39
1
28
«
'•5
107
30
32
59
2
1
38
l,28lt
1
3
8,232
18
6
35
18
31,578
661.
U31
5,2a
1*3,
92
Treasury bonds:
Bonk eligible:
2-i/k^ l\me
WSl-?"*
Septombar 1951-53
25;
Septanber 1951-55
356
2-lAi6 Decambor
December
2-l/25i March
2<f,
1951-53
1951-55
1952-5it
June
1952-5^*
2 -1 AiS June
1952 -55
2i5
2?,
December
1952-5'l
June
2^
2-lA?i June
2-7/8^ March
1953-55
2-l/2iS March
1956-58
195''-56
1955-60
(
Total bank eligible
Bank restricted: jj
1959-62
2-1A5S June
S-lA^ December 1959-62
2-l/2ii June
I962-67
63
137
605
26
26
139
69
576
60
1
129
57
152
313
2,205
8,li20
575
751
2U2
2,12U
3U6
317
Ugit
676
930
1,0U6
1,395
976
1,377
3,279
U
123
1,505
l»13
5W»
3, '•70
1*
1»67
32lt
30
5U2
650
300
138
2,831
3,761
3,838
29
777
1,293
930
768
2311
1,01(1
IU7
igh
5,197
71
906
1,393
3,'t8l
53
l»97
1,01* l>
2,007
89
293
82
63
'',033
206
16U
101
138
1,252
78U
99
195
36,070
8U6
7,379
6,960
2,066
5,056
13.763
30,U69
32,UgU
8,0U3
7,391
3,166
7,2ol
22,1S3
196I1-69
(taxable)
( taxable)
(taxable)
2-1/2^ March
2-l/25t March
2-l/2i6 June
2-1/2J December
1965-70
I966-7I
1967-72
1967-72
(taxable)
(taxable)
(taxable)
(taxable)
Footnotes at end of Section II,
111
2,118
I963-68
196U-69
Total Treasury bonds
28
311'
(taxable)
(taxable)
(taxable)
2-l/2it December
2-l/2i6 June
2-1/25! December
Total bank restricted
99
87
109
33
29
l.lUU
(Continued on following page)
i3o
126
l,l'''5
515
August 1951
39
.TREASURY SUKVEY OF OWNERSHIP, MAY 31, 1951.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Pax values
Issue
(Tax status 6/ Is shown in psronthoses)
-
tn mllllono of doUare)
-
(Continued)
Treasury Bulletin
1^0
.TREASURY SORVEY OF OWNERSHIP, MAY 31, I95I.
Section
II -
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par Talueo
Issue
(Tax status 8/ Is shown In parentheses)
-
In mllllone of dollars)
Auqust 1951
Ul
.
MAEKET QUOTATICirS, JTJHK 29, 1951-
Market quotatlone shown here ere over-the-counter
the only public marketable interest-bearing guaranteed
closing quotations In the New York market for the last
securities outstanding.
Section II lists the public
marketable securities Issued by Federal agencies but
not guaranteed by the United States Oovernment.
Dally
trading day of the month, as reported to the Treasury ly
the Federal Reserve Bank of New York.
listed In Section
I
The securities
Include all public marketable secu-
rities Issued or guaranteed by the United States Oovem-
ment except those not regularly quoted In the market.
quotations for the securities listed In Sectlorwl and II
are published monthly In the Treasury Department statement, "Prices and Yields of Public Marketable Securities
The Issues excluded are postal savings bonds and Fed-
Issued by the United States Oovernment and by Federal
eral Housing Administration debentures.
Agencies"
Section
I
-
The latter are
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
AjBount
outstanding
(Minions)
Treasury Bulletin
1+2
.MARKET QUDTATtOHS, JTJW 29, 1951.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Other Taxable Issues (Continued)
(Price dedmfllB are 32n(iB)
Amount
out-
Auqtist 1951
^3
.
MAHEET QtX)TATIOHS, JUME 29, 1951-
Section II - Securities Issued by Federal Agencies but not Guaranteed by the United States Governinent
Table 2.- Other Issues (Taxable)
(Price declJualB are 32ndB]
Amount
outBtand(Mllllona)
Treasury Ballethi
1+1^
YIELDS OF TREASURY SECURITIES, JUNE 29.1951
Based on Mean
of Closing Bid
and Ask Quotations
PERCENT
1
Explanation: Tht points represtnt yields to colt when prices ore obove par. ono to maturity date when prices ore at par or below.
The smooth curves for the various classes of points ore fitted by eye. Issues tor which an exchange offer has been
made or which ore due or callable in less than 3 months are excluded
Office of
tl>a
S«crelary of tlM IVMSury, Offic* of tha Techntcol Staff
PERCENT
Atu^ttst 1951
^b
YIELDS OF TREASURY AND CORPORATE BONDS.
Table I.- Average Yields of Long-Term Bonds by Periods
Treasury Bulletin
iv6
YIELDS OF TREASURY AND CORPOPATE BONES.
Auqitst 1951
^7
INTERNAL REVENUE COLLECTIONS.
Table
1.
-
Sumnary by Principal Sources
(
Fiscal yoar
or month
In thouaands of dollars
-1/
Treasury Bulletin
h8
INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS
Billions
1936
Office of
ffit
38
^O
42
•<14
'46
S«cr«tory of ttw TrMiufy, Offic* Of th« Technical Staff
'48
'50
1936
'38
40
42
'44
'46
48
'50
August 1951
U9
INTERNAL REVENUE COLLECTIONS,
Table 2.- Detail of Ckillections by Type of Tax 2J
(
In thousands of doLLare
First 11 Eiontha of fiscal year
Fiscal year
Typo of taj
Corporation Income and excess profits tales 2/
Individual Income tax and employment taxes :
Income tax not vlthheld
Withheld taxes:
Income and old-age Insurance
Ballxoad retirement
^
Total vlthheld taxes
Unonployment Insurance
Total Individual Income tax and employment taxes
Miscellaneous internal revenue
Eleventh month of fiscal year
1950
(May 1950)
-951
(May 1951)
1949
1950
U,553,669
10,851*, 351
7,996,320
7,261*,332
6,31*7,172
8,712,21*7
115,831
193,571
11,7'*2,653
11,762,377
11,550,201
2,316,91*7
1951
1950
9,073,739
10,1*79,157
213,103
21*1*,279
51*8,038
1*1*6,311
15, 61*1*, 029
1*56,312
28,975
3,508,726
22,197
12,305,367
12,310,1*15
11,996,511
16,100,31*0
2,31*5,922
3,530,922
226,228
223,135
221,91*7
235,812
13,305
20,527,935
19,797,883
18,565,630
25,01*5,1*00
2,1*75,058
6,138
266
255
735,781
657,1*1*1
605,133
59l*,065
1*9,330
60,339
60,757
1*6,785
1*7,086
88,677
1,71*3
-2,51*5
121,773
1,276,175
33,793
126,31*1*
115,031*
1,185,501*
160,197
1,295,51*9
1,1*96,836
27,655
2,300
65,970
35,702
10,036
100,825
2,332
198
5,658
12,115
78,309
30,069
2,600
70,001
9,860
7,210
8
672
10,821
6,932
11
1,039
11*, 112
231*
186
1
56
5
3
12
1
52
962
*
59,998
61,912
75
II*,
868
3,739,361
:
Capital stock tax h/
Es tate tax .,
Gift tax
11
Liquor taxes:
Distilled spirits (ijiiported, excise]
Distilled spirits (domestic, excise]
Distilled spirits, rectification tax
Wines, cordials, etc. (imported, excise]
Wines, cordials, etc. (domestic, excise]
Dealers in distilled spirits; rectifiers;
facturers of stills (special taxes]
Stamps for distilled spirits Intended for
Case stamps for distilled spirits bottled
Container stamps
Floor taxes
,
Fezmented malt liquors
Brewers; dealers in malt liquors (special
,
2,1*1*8
,
export,,
In bond.
,
,
taxes]..
,
,
,
.,
....•
Total tobacco taxes
Stamp taxes:
Bonds, Issues of capital stock, deeds of
conveyance, etc
Transfers of capital stock and similar Interest
sales
Fla^'lng cards
Silver bullion sales or transfers
Total stamp taxes
Footnotes at end of table.
3,1*63
59,1*99
1,91*2
2W*
1*,3W*
manu-
Total liquor taxes
Tobacco taxes:
Cigars (large)
Cigars ( small)
Cigarettes (large)
Cigarettes ( small]
Snuff
Tobacco ( cheving and smolcing
Cigarette papers and tubes
Leaf dealer penalties , etc
Cigarette and cigar floor taxes
63, 33"*
9,973
6
375
U,907
9
738
11,825
20
686,368
667, 1*U
11,1*30
U,781*
597,562
3,525
601,186
2,210,601
2,219,196
2,016,261*
2,382,1*25
180,376
159,878
1*5,530
1*2,112
38,1*85
1*0,300
3,269
3,711*
59
7
58
53
5
1*
1,232,728
7,272
1,21*2,81*5
1,123,11*1*
6,691*
35,1*35
7,389
35,070
32,11*8
81*1
981*
81*1*
51
6
1,181,818
6,683
30,986
988
6
3,1*36
691*
5
1
1
113,226
581
2,839
llii,i*03
601
2,868
79
1
,
1_
121,670
1,206,371*
1,260,831*
119,937
167
51,203
U,l*59
It,
26,1*83
2,1*32
2,129
7,821
97
701*
1*30
1£
Ul
85,601*
7,608
7,229
1,321,875
1,328,1*61*
1*6,667
50,156
17,910
23,823
7,561*
10,51*6
21,397
10,069
687
123
^0
72,8e8
a,61*6
75,751*
1*1*.
(Continued on follovlng page)
629
Treasury Bulletin
50
INTERNAL REVENUE COLLECTIONS,
Table 2.- Detail of Collections by Type of Tax^- (Ck>ntihued)
(
In thouaandB of dollars
First 11 months of fiscal year
Fiacal year
Eleventh month of fiscal year
Type of tax
191*9
1950
1950
1950)
1951
1950
(llay
1951
(May 1951)
Hlccellaneoufl Internal revenue (continued):
Manufacturers* excise taxes:
Lubricating oils
GsBOllne
Tires and tubes
Automobile trucks and buses
Other autanoblles and notorcycles
Parts and accessories for automobiles
Electrical energy
..*...
Electric, gas, and oil appliances
Electric light bulbe and tubes
Radio sets, phonographs, componenta, etc, 5/
Phonograph records
Musical Instruments
Mechanical refrigerators, air-condltloners, etc. 6/
Matches
Business and store machines
Photographic apparatus
Sporting goods
Firearms , shells , and cartridges
Pistols and revolvers
Total manufacturers' excise taxes
Petallers* excise taxes:
Purs
Jewelry
Luggage
Toilet preparations
Total retailers ' exc ise taxes
Miscellaneous taxes:
Sugar Act of 1937
Telephone, telegraph, radio, and cable faculties,.
Local telephone service
Transportation of oil by pipe line
Transportation of persons, etc
Transportation of property,,,,.
,
Leases of safe-deposit boxes
,
Admissions to theaters, concerts, etc
Admissiona to cabarets, roof gardens, etc
Club dues and Initiation fees
Bovllng alleys, pool tables, etc
Coin operated devices
Adulterated and process or renovated butter, and
filled cheese
Oleomargarine, including special taxes jj
Narcotics, including marihuana and special taxes,,.
Coconut and other vegetable oils processed
National Fireamis Act
All other, including repealed taxes not shown
separately
Total miscellaneous taxes
Total miscellaneous internal revenue
Total internal revenue collections
MJustaoent to JDalXy Treasui7 Stateanent
81,760
503,61*7
150,899
136,797
332,812
120,138
79,31*7
80,935
26,172
1*9,160
6,1*83
9,293
77,833
8,738
33,31*1*
1*3,11*0
19,81*6
10,379
810
1,771,533
77,610
526,732
151,795
123,630
66,618
136,953
U5,511
1*52,066
1*12,985
88,733
85,70U
80,251
78,822
80,1*06
72,1*58
20,726
19,783
37,920
5,291
3,005
55,8oU
8,313
27,657
1*2,085
5,769
8,865
6U,3l6
8,875
30,012
39,931
18,969
9,351
113,1.33
lt,l*37
8,011.
13,856
2,853
17,327
1*93
533
iVi
1,060
13,160
622
1*01
1,821
1,892
1*81
1*39
738
31
91*
1,836,053
,,666,1.81.
2,188,618
171,567
220,536
55,1*70
195,1*05
1*3,878
1*1*9,211
1*09,128
376,999
71,188
312,339
2l*7,28l
9l*,995
18,919
228,738
321,193
1.0,516
1.1,921
1*,906
3,1*51
2,1*69
3,51*6
16,578
76,781
97,717
13,732
7,092
8,317
1*25,371*
31,610
37,1*51*
65,800
288,122
75,1*76
328,1*68
29,81*5
3l*,599
230,71*7
17,1*61
211,61*6
268,319
21., 1*93
27,902
2,600
20,920
35,731
900
28,870
3,732
3,386
9,551*
292,556
8,758
371, 2W*
31*2,1*56
23,101.
217,61s
350,302
8,81*1
320,678
8,036
9,293
5,017
5,777
1,531*
17,1*15
28,822
765
30,371
3,383
1*1,1*53
37,907
39,01*2-
28,71*0
25,611.
3,01*0
18,071*
26,858
3,166
3,211*
1*0
50
19,573
336
325
3,608
20,171*
21
12
17,51*1
17,1*60
29,297
867
15,857
11
7
615
n,56l
27,61*1.
7,698
8,626
8,538
2,199
16,1*30
175,971
70,291
66,359
27,790
3,805
21,088
12,1.51
60,696
16,326
1*5,781
9,1*61
385,81*3
1*8,857
15,029
8,906
350
8,078
36,91*3
190,820
77,532
76,171*
5,882
1*5,329
l*l.,257
6,501
10,002
88,190
9,700
11*,
61,91*6
311,380
531
19,325
251,389
337,030
6,252
1*5,337
ll*,000
11,032
669
3,017
361
569
210,638
82,607
93,969
221*,
80,719
516,669
181*, 118
109,789
605,796
109,838
35,633
113,658
1*80,302
102
27,819
9
9U
31*
1,61*9
603
621.
53
77
18,275
1,316
2,1*21*
15,236
5
2
6
273
1*37
311*
159
17
1,752,792
1,720,908
1,536,261
1,700,551*
11*9,127
166,597
8,726,150
711,859
771,15s
3,381,515
8,30U,892
7,580,610
119
38,957,126
35,219,980
253, 707
3,1.00,021
-155,831*
+1*91,1*82
-360,928
-1*77,703
-680,583
-933,300
1*0,307,285
39,1*1*8,607
3l*,859,052
1*3,776,001*
2,719,1*38
3,a21,U97
!*0, 1*63,
1.1*,
1.,
751*, 797
Total receipts from internal revenue (Dally Treasury
Stata:ient)
Source: Dally Treasury Statement for total receipts flxim Internal revenue;
reports by collectors of Internal revenue for collections by type of
tax. Detail by type of tax Is available only on a collection basis.
Rocolpte on the Dallj* Treaaury Stateonant basis are cootpiled from the
latest dally reports fran Government depositaries; they do not coincide
with amounts reported by collectors because of the lag In deposits of
collections and because certain taxes are paid directly into the
depositaries.
1/ Excludes collections for credit to certain trust accounts for island
poosocslons; includes corporation Incone tax on Alaska Railroad,
2/ Includes excess profits taxes formerly shown separately as follows:
declared value (repealed for years ending after June 30, 191*6),
Excess Profits Tax Act of 191*0 (Title II of the Second Hevonuo Act
of I9IK), which was repealed for years ending after December 31, 19U5),
3/
k/
^
6/
2/
•
and Vinson Act as amended (3I* U.S.C. 1*96).
Beginning January 1951, withheld Income taxes and social security
employment taxes on employees and employers are paid into the
Treasury In combined amounts without separation as to type of tax.
The figxires for prior periods have been coiablned accordingly in
this table for purposes of comparison, but are shown separately in
the March 1951 and preceding issues of the "Treasury Bulletin"
Repealed for years ending after June 30, 191*5. Beginning with
July 1950, Included unier "riiscellaneous taxes"
Incluies television sets as provided In the Revenue Act of 1950,
approved September 23, 1950.
Includes quick-freeze units as provided in the Revenue Act of 1950«
Repealed (except on imported oleomargarine), effective July 1,1950,
Less than $500,
II
51
August 1951
MONETARY STATISTICS.
Table !•- Money in Circulation
(In mlUlona of dollare except as noted)
Paper aoney
End of fiscal
year or month
19l'3
Total
money In
circulation 1/
17,'tgl
22,50lt
191* >»
Total
paper
money
Gold
certificates
2/
Silver
certificates
Treasury
notes
of 1890
i/
United
States
notes
Federal
Reaerre
notes
Federal
Beserre
Bank
notes
National
bank
not«B
13,71*7
581*
18,750
22,867
23,973
23,99?
597
527
132
126
120
Ul*
106
y
l6,lt92
57
1,61*9
21,U38
51*
1,588
1,651
2,025
2,06l
322
322
323
317
320
321
319
321
318
23,600
23,209
22,760
353
309
99
271*
23,1*53
21.3
86
81
19''5
191*6
19lt7
26,71*6
25, Sill
2e,2U5
28,297
26,9U5
52
50
26,9112
1*8
19'i8
26,1*82
26,031*
1*5
1950
1951 P
27,903
27, '•93
27,156
27,805
25,661
26,228
1*1
39
2,061
2,061
2,177
2,092
19U9-Decenib©r.
27,600
26, U6
U2
2,120
312
23,262
291
89
1950- July
August.
27,010
27,120
27,161
25,512
1*1
2,131*
22,661*
25,611*
25,61.6
1*1
2,131
2,136
316
320
318
22,768
22,801
271
268
265
86
85
85
October. .
^ovembor.
December .
27,228
27,595
25,701
1*0
27,7''l
26,187
UO
UO
2,111
2,132
2,129
317
318
313
22,885
23,212
23,363
263
260
257
85
26,01*8
1951- January. .
February,
27,0ik8
1*0
2,026
2,051
2,059
303
311
310
22,
8U
251*
27,188
27,119
25,518
25,653
25,576
83
83
82
87,278
27,519
27,805
25,727
25,951
26,228
39
39
39
2,077
311*
22,966
23.173
318
23,1*53
19''9
. . .
September.
Narch
April
May
June p....
End of fiscal
year or month
1*3
1*0
1.0
39
2,091.
2,092
22,916
22,831*
U61.
U06
252
250
21.7
21.5
21.3
93
81.
81.
82
ae
81
52
Treasury Bulletin
MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounta in milliona)
19l'3
191^
WliT
22,387.5
21,173.1
20,213.0
20,269.9
21,266.5
I9U8
23,532.5
191*9
2li,l;66.3
1950
1951 P
2U,230.7
21,755.7
ljU
l?""?
Patio of silver
to gold end
silver In
monetary stocks
( in percent)
Silver
($1.29+ per
fine ounce)
Sold
($35 per
fine ounce
End of fiscal
year or month
'•,298.5
3,9'»7.9
16.1
15.7
3,685.8
15.1*
3,508.1.
11*.
3,525.7
11*.
3,571.0
3,618.3
3,671.5
3,721.l<
13.2
12.9
13.2
IU.6
19119-Dec
2'>, 1*27.1
3,6li3.1
13.0
1950-Juiy
August. . .
September.
2li,136.l(
3,676.3
3,630.9
3,685.8
13.2
X3.5
13.6
23,036.7
22,706.1
3,690.8
3,692.8
3,697.1
13.7
13.8
lU.o
22,391.7
22,085.9
21,805.6
3,701.9
3,705.0
3,708.9
11*.
21,8ol».9
3,712.1
3,713.6
11*.
3,721.1*
lU.6
Oc tober
.
23,626.9
23,1*82.8
23 ,21*9.
.
November
December.
.
1951- January
.
.
."ebrioary
.
March
April
May
June p.
21,755.7
21,755.7
.
.
Source: Circulation Statement of U. S. Money; Dall^ Treasury Statement for
preliminary figures. For detail of silver monetary stock, see Table 1*.
lli.lt
Ik.
Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)
Liabilities
End of calendar
year or month
Oold assets
191*3
21,937.8
191*1*
SO, 618.
20,061t.9
19''5
I9U6
Gold certlficatee l/
19,821.0
18,U97.U
17, 911*. 1
18,1*30.5
191*7
20,529.0
22,753.9
191.8
2lt,2l*3.9
191.9
21*, 1*27.1
23,010.0
23,217.9
1950
22,706.1
21,1*97.5
21., 136.1.
22,926.6
23,626.9
22,1.29.8
22,275.1.
1950-Jul5Aug us t .
.
.
September.
23,1.82.3
October.
November.
December.
23,21.9.1.
.
1951"January
. .
Februa3"y .
March
April
May
June p
.
.
.
21, 51.1..
22,085.0
21,837.6
Goli reserve
against U. S.
notes, etc. 2/
156.0
156.0
156.0
156.0
156.0
156.0
156.0
156.0
156.0
156.0
156.0
Exchange
Stabilization
Fund i/
1,800.0
1,800.0
1,800.0
1,800.0
Gold in
General Fund
160.7
165.1*
191*
.8
11.2.1.
1,053.9
1,077.
1,053
1,052,
1,053.7
1,01.1.0
1,051.1.
21,1.97.5
156.0
156.0
156.0
1,008.1*
23,036.7
22,706.1
22,391.7
22,085.9
21,805.6
21,200.0
20,891.8
20,606.2
156.0
156.0
156.0
1,035.6
1,038.0
21, 801. .9
20, 606 .2
20,51*7.0
20,553.1*
156.0
156.0
156.0
1,01.2.6
21,755.7
21,755.7
Source: Circulation Statemsnt of U. 6. Honey; Daily Treasury Statesent for
preliminary figures.
1/ Comprises (1) gold certificates held by the public and in Federal Reserve
Bonks; and (2) gold certificate credits in (a) the gold certificate fund -
2/
^
p
1,0U3.1
1,052.6
1,01*3.1.
1,052.7
1,01*6.3
Board of Govamoro, Federal Reserve System, and (b) the redemption
fund - Federal Reserve notes.
Reserve against United States notes and I'reasui'y notes of I89C.
Excludes gold in active portion of Exchange Stabilization Fund,
Preliminary
Aut^usf 1^)51
53
MONETARY STATISTICS,
Table 4.- Ck)inponents of Silver Monetary Stock
(In EillllonB of dollars)
Silver held In Trsaaury
End of calendar
year or month
Silver
bullion 2/
Silver
dollars
Ii00.lt
111. It
376.5
356.lt
12.5
10.2
3lt3.lt
llt.O
337.2
13.1
328.1
321.9
312.8
5.9
U.lt
3.6
19^7
191*8
19lt9
1,971.5
2,003.2
1950
2,Olt0.7
1950- July
August. .
September.
2,026.7
2,029.7
2,032.8
318.8
317.5
8.3
10.3
3i6.lt
8.9
2,036.0
2,038.9
315.8
313.8
312.8
5.3
312.7
312.7
312.5
5.3
5.9
2,050.0
2,052.6
2,05U.3
2,057.2
312.0
310.7
309.8
19ltlt
19lt5
19lt6
.
October.
November .
December.
.
1951-January...
February.
March
April
May
June p.
.
.
2,Olt0.7
2,0lilt.2
2,0147.5
Bullion for
recolnsge U/
Subsidiary
coin i/
1,520.0
1,520.1
1,703.9
1,911.2
1,937.6
I9I13
Circulation Statement of U. S. Money; Daily Treasury Statement for
certain preliminary figures.
Valued at $1.29+ per fine ounce.
Incliides silver held by certain agencies of the Federal Government (see
Dally Treasury Statement for amount). Does not include silver lendleased to foreign govemmsnts ( these transactions all took place during
the fiscal years 19lt2 through 19lt6; see 19lt6 Annual Report of the
19.1
Bullion
at cost 2/
.1
^
lt,207.3
8lt6.7
3,870.6
3,512.8
156.3
901.1
928.7
3,51lt.2
3,5lt7.9
165.0
171.0
179.8
971.5
982.2
1,022.2
3,596,
95.1
98.2
98.0
97.5
173.7
175.0
176.2
.993.8
3,676,
3,680,
1,002.6
3,685.8
97.8
96.0
95.1
176.8
178.8
179.8
1,008.9
1,015.7
1,022.2
3,690.8
3,692.8
3,697.1
185.6
93.1
91.1
89.3
3.6
Subsidiary
coin
771.6
9lt.lt
2.1t
Silver
dollars 1/
Total
silver
at »1.29*
per fine
ounce
681t.7
551.8
li05.6
96.8
117.5
137.5
150.1
996.lt
3,6lt3,
3,697.
5.lt
.1
95.6
95.1
96.0
179.8
179.9
180.0
1,021.5
1,021.7
1,022.6
3,701.9
3,705.0
3,708.9
lt.lt
.1
95.8
1,025.3
1,031.2
1,039.5
3,712.1
2.8
9lt.3
180.5
181.6
2. It
93.1
l82.lt
Source:
1/
2/
Silver outside
Treasury
In General Fund
Securing ellver certificates 1/
^J
Secretary of the Treasury
Valued at $1.38+ per fine
Valued at $1.38+ per fine
to whether the bullion Is
coins or for recoinage of
Preliminary.
Less than $50,000.
3,713
for amounts ).
ounce.
ounce or at $1.29+ per fine ounce according
held for recolnage of eubsldlary ellTer
standard silver dollars
Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Offices^
(In millions of ounces or dollars)
Calendar year
or month
.ff
3, 72i.lt
Treasury Bulletin
5^
MONETARY STATISTICS,
Table 6.- Seigniorage on Silver
(Cumulative frcm January 1, 1935
End of calendar
year or month
-
In millions of dollars)
Atujust 1951
55
EXCHANGE STABILIZATION FUND,
Table 1.- Balance Sheet as of June 30, 1050, and March 31, 1051
June 30, 1950
Aaeets:
Cash:
Treasurer of the United States, chocking account,,..
Federal Reserve Bank of Nov York, special account,..
Disbursing officers* balances and advance accounts..
$7,133,087.51
$7,701,568.51
11*6,787,230.93
l'*7, 598,167.
lU,055.02
Total cash
lU
9,665.23
$153,93'',373.'»6
Special accounts of Secretary of the Troaflurj In
Federal Beaerve Bank of New York:
Special account No, 1, gold
Due frcon foreign banks (foreign exchange):
Swiss francs
Mexlc ian pesos
Indian rupeea
Pakistan rupees
$155,309,''00.86
99,658,9'A,55
121,'*1*U,
9.'t8
9.''8
15,000,000,00
9,733,708,13
2,906,252.02
8,551,616.91*
2,U59,995.''a
Total due from foreign banks
Investziients in
March 31, 1951
United States Ooremment eecurities
Accrued interest receivable
Accounts receivable
753.91
27,639,969,63
11,011,621. 8l>
20,000,000,00
20,000,000.00
a2,936.U
83,671.77
2,925.'*1
2,52U,09
30l,519,lU9,l6
307,851, 972.'»9
Federal Reserve Bank of Hew York, clearing account
Total assets
Liabilities and capital:
Accounts payable:
Vouchers payable
Qnployees* pay-roll allo'tment account. United States
savings bonds
Due on purchases
Miscellaneous
2,161,30
959,13
2,798.95
629,617.3'*
101,11*5,97
91,218.92
10l»,266.1(0
Total accounts payable
726,208.35
8,876,228,70
Beserve for expenses and contingencies (net)
Capital account
Deduct - Subscription to International Monetary Fund
2,573.1'*
2,000,000,000,00
1,800,000,000,00
Net incQDe (See Table S)
Total liabilities and capital
Note: Annual balance sheets for fiscal yoare 1931* through 191*0 appear in
the 191*0 Annual Report of the Secretary of the Treasury and those for
euooeodlng years appear In eubseiiuont reports. Quarterly balance sheets
200,000,000.00
8,978,81*8,30
2,000,000,000.00
1,800,000,000.00
200,000,000,00
9g,538,65l(,o6
98,11*6, 915, 8U
301,519,l't9.l6
307,851,972,1*9
beginning with that for December 31, 1938, have been published
the "Treasury Bulletin"
Ir.
Treasury Bulletin
56
EXCHANGE STABILIZATION FUND,
Table 2.- Income and Expense
January 31, 193**, through
June 30, 1950
Claaelflcatlon
Income:
Profits on British 8t«rlli;6 tranflactlonfl
•
$310,638.09
Profits on French franc tr&nsactionfl
$310,638.09
351,527.60
351,527.60
579,013 .09
1*8,778,530.87
1*0,000,000.00
1*0,000,000.00
Profits on gold bullion (Including profits from handling charges on gold)
"ta,
Profits on other gold and exchange transactions
Profits on BllTer transactions
January 31, 193^, through
March 31, 1951
102,735.27
102,735.27
362 .29
3,1*73,362.29
Profits on InTestmsnts
1,876,790.55
1,876,790.55
Interest on inrestsnents
7,198,066.89
7,573,302.55
861,5^6.93
861, 5^*6.93
Interest earned on foreign balances
2,817,573.61
2,81*9,683.19
Interest earned on Chinese yuan
1,975,317.07
1,975,317.07
101,51*6,571.39
108,153, 931*. Ul
6,3'>0,336.99
7,19l*,3l»9.37
Profits on sole of silver bullion to Treasury (nationalized)
Miscellaneous profits
Total Income
3,1' 73,
Expense:
Personal services
Travel
33l»,61»1.51
Transportation of things
627,369.27
61*8,879.95
Cosmunlcatlons
521,91*3.66
531*, 81*1. 21
79,512.17
86,1.31*. 71*
Other
l,10l*,113.73
1,158,961.17
Total expense
9,007,917.33
10,007,018.57
92,538,6511.06
98, 11*6, 915. 8U
Supplies and materials
Net income
383,552.13
Autjust 1951
57
CAPITAL MOVEMENTS.
the data for January 1950.
Data relating to clElms on foreigners and liabilities to foreigners, and capital movements between the
United States and foreign countries, have been collected
coverage and geographical classification.
The supplementary information, contained in Section IV,
is presented in three tables appearing at different times.
information is published regularly in the "Treasury
Table 1 gives data by countries on short-term claims on and
liabilities to foreigners as reported quarterly by exporters.
Supplementary information is published at lesB
All reports are made initially to the
Importers, and industrial and commercial concerns in the
United States. This information was published for the first
time in the October 1949 issue of the "Treasury Bulletin"
Federal Reserve Banks, which forward consolidated figures
to the Treasury.
Table 2
and begins with data for September }0, 1946.
claims
on
long-term
supplies information by countries on
banks
and
by
reported
as
foreigners
and liabilities to
The term "foreigners" as used in these reports covers
all institutions and individuals (including United
States
citizens) domiciled outside the United States, as well as
international organizations, wherever domiciled,
called to the
instances are not comparable because of certain changes in
Information
and Treasury regulations thereunder.
covering the principal types of data and the principal
countries is reported each month by banks and bankers and
securities brokers and dealers in the United States. This
I93U,
frequent intervals.
is
reporting basis are reasonably comparable with those for
preceding months, data for individual countries in some
since 1935, pursuant to Executive Order 6560 of January I5,
Bulletin".
Attention
fact that although the grand total figures on the revised
bankers in the United States.
created by
This table appeared for the
basis of reporting,
Data are for the
Table 3
end of the calendar year beginning with 1942.
gives information on short-term liabilities to countries
not regularly reported separately by banks and bankers.
and derivation of capital movements figures appeared in
the April 1950 issue of the "Treasury Bulletin", pages 50-52.
This table appeared for the first time in the April 195O
Issue. The data have been requested at irregular Intervals,
Revised report forms and regulations became effective with
the earliest date being October 19'^3-
treaty or convention between sovereign states.
first time in the December 191+9 issue.
"Short-term"
refers to original maturities of one year or less, and
A detailed
"long-term" refers to all other maturities.
dlsoussion of the reporting coverage,
Section I - Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
Analysis of net capital movement in:
Calendar year or month
Net capital
movement
Short-term
banking funds
Brokerage
balances
Transactions
in foreign
securities
Transactions
in domestic
securities
855,51*6
1935-1*1
5, 351*, 071
3,770,922
100,870
626,731
191*2
626,121
1,286,893
583,373
1,168,058
1*6,599
-7,351»
27,767
210,735
-113,105
77,696
191*1*
1*61,351*
11*8,591*
3,513
13,372
8,529
191*5
l,07l*,375
1,216,303
17,791*
191*6
-793,321*
-733,909
191*7
191*8
331*, 163
395,521*
225,1*17
531,777
191*9
191*, 1*58
90,81*5
1950
1,758,31*2
191*3
1951- Jul7
August....
September.
October. .
November.
December.
1Q51 -January.
February
March
.
.
April
May p
1/
See Table 2, footnote 1.
:
lll»,l8l
-23,301*
-51*, 233
-59,786
-53,956
:
91*11,1*30
-9l*,832
27,800
:
-11*5,387
91,379
-1,333
2,006
-808
11*2,955
25,831*
-53,31*1
-173,1*56
11*7,1*20
2,1*08
32,383
-282,1*16
7,301*
21*7,915
122,010
77,829
-6,668
:
-308,560 r
110
:
-130,5115 r
-1,257
2,711
-2,269
:
265,127
39,012
-89,055
-192,215
75,203
-2,1*61*
11*0,869 1/
2U5,1*55
-33l*,203
507,600
26,599
232,^89
359,170
-188,320
951,307 r
9,661
-11,318
-19,313
610
7,992
93,1*96
-1*6,617
556 r
-36,927
-1*1*,
63,21*1*
:
3,893
-1,880
31,1*68
-260
-11,273
-U6,228
67,310
18,701*
1*,165
76,1*83
-32, 01*2
-l'*2,252
-90,2l*J*
-U,U99
17,530
-65,039
p
r
Preliminary,
Bevlsed.
Treasury Bulletin
5«
CAPITAL MOVEMENTS.
Section I - Historical Summary
Table 2.- Short-Tera ClainiB on and Liabilities to Foreigners
(Poeltlon at end of period In thousands of dollars)
End of calendar
year or month
August 1951
59
CAPITAL MOVEMENTS.
Section I - Historical Summary
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
60
Treasury Bulletin
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 1.- Net Movement of Capital and of Short-Tem Banking Funds
August 19 5i
61
CAPITAL MOVEMENTS
Section II
- Suinnary
by Countries
Table 2.- Net Movement In Brokerage Balances and Long-Term Security Transactions by Foreigner
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States or net sales by foreigners)
Country
T,
Treasury Bulletin
62
CAPITAL MOVEMENTS.
Section II
-
Summary by Countries
Table 3.- Short-Term Claims oo and Liabilities to Foreigners
Auqtist 1951
63
CAPITAL MOVEMENTS
Section II
-
Sunnary by CountrleB
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
Prior to March 1951, data for China Malnlani ( Includljig Manchuria) and
Formosa were not reported separately. Since the separation, nlnor
inconsistencies may eilet in the reporting of the data.
Preliminary.
Treasury Bulletin
61
CAPITAL M0VE»ENT8.
Section III - Details for Month of March 1951
Table 1.- Short-Term Claims on Foreigners
(Position at end of month In thousands of dollars)
Country
August 1951
65
CAPITAL MOVEMENTS
Section III - Details for Month of March 1051
Table 2.- Short-Term Liabilities to Foreigners
(Fodltlon at end of month in tho\jsaiidQ of dollore)
Total
ehortterm
llBblll-
Country
Short-term liabilities payable in foreign currencioQ
Short-term liabllitloe payable In dollare
To forel^ banks and official infltltutiona
DepoBlt^
tlfte
To &11 other foreigners
U.S. Treasury bills
and certificates
DepoBlta
To foreign
banks and
official
institu-
U.S. Treasury bills
and certificates
To
others
tions
Europe:
Austria
Belgium
CzechoslOTakia.
Denmark
Finland
Wi,908
U6,538
3,068
19,217
2,611
39,729
18,357
lt8,17U
Prance
Gennany 1/
Greece
Italy
Netherlands...
Nonray
Polani
Fort\^al
Rumania. ..•...,
Spain
Sveden
Svitzerland ....
U. S. S. R
United Kingdon.
Yugoslavia
Other Europe. .
1*3,795
57,1*03
1,123
58,313
456
7,817
860
54,310
2,282
6,338
35,151
31,897
51,127
2,217
6,140
24,577
31,650
16,896
585
7,635
1,360
16,724
583
7,625
1,360
387
7,1*79
6,711*
760
6,563
119,865
202,878
1,325
18,380
6,500
98,196
447
170, '•96
1,325
18,069
50
2,195
368
25,253
93,296
7
20,086
9
336
1*7,035
2,1*82
1,250
17,970
18,353
20,600
107,596
162,265
12,755
10,836
5,875
21
57
4
232,521
177,997
2lt2,lt02
21*0,101
33,912
306,259
198,61*7
27,572
271,072
166,717
22,1*98
201,961*
126,530
57,646
67,000
5,000
68,070
35,800
5't,253
1»,520
37,353
3,935
31,090
388
52,609
6,109
16,966
U,930
105,1'93
98,668
381,027
1,596
505, OOU
2,0l»7
'*,739
9,1*81
22,580
9,118
129
1,159
1,123
58,375
456
8,442
860
21,205
3,911*
1*4,873
1*,739
9,091*
39,1*15
266,578
1,589
383,256
34,000
21,153
74
1,038
4,387
1*51
525
3
3
2,841
342
51
214
19
2
36
33
187
4
198
6U.
108
30
3
24
4
1
3
44
10
6
44
5
1
262
4,112
111
3,860
151
252
32,367
32,022
345
14
9,963
139
148
27
15
2
36
2
10
13
10
45,780
24,552
37,874
37,001
873
14,986
141
5,220
2,605
2,615
468
1,138
49
14
35
71
23
119
50
7
69
7
1
11
4
7
241
30
670
294
376
46
2,693
732
2,236
314
270
255
171
255
99
570
1,552,'*J»3
318,833
207,407
582,651
82lt,635
677,389
253,121*
421,587
2,678
142,026
Argentina.
Bolivia. ..
Brazil....
Chile
Colombia.
3^5,165
22,llU
259,639
69,912
Wt,2U8
305,825
9,363
220,038
298,060
9,339
205,699
38,320
21,707
7,765
24
14,339
228
304
39,291
13,048
39,482
31,357
22,226
38,823
11,910
39,4U
Cuba
Dominican Republic
Guatemala
Mexico
Netherlands West Indies
and Sur inan ...........
275,967
1*5,835
226,938
30,176
31,768
108,672
17,51*6
1*6,927
49,029
15,659
14,222
61,075
48,948
15,659
13,981
56,275
.
100
126,899
2,078,683
.
64
512,319
2,699,208
Total Europe
1
11
33,515
6,1*82
696
1
300
,219
6,1*91
760
19,474
4
3,150
1*10,900
3I1
24
29,232
6U6,1U5
7,816
52,600
7,558
38
I^tin Amorlca:
Peru
Republic of Fanazoa...
El Salvador
Uruguay
Venezuela
Other Latin Anerica..
Total I^tin America..
38,51*8
22,011
17l*,l*08
23,800
28,730
30,090
9,107
5,400
3,039
2,049
1*4,878
30,818
21*,
703
16, 440
5^,982
52,158
36,072
1*6,505
32,509
29,188
86,62lt
57,1*90
33,965
14,874
10,540
26,745
28,464
52,042
1,6U6,320
1,153,906
1,014,678
W>,6l8
27,335
30,895
26,734
30,894
33,287
53,697
62,252
81,819
89,797
ll*,92l*
1*1,61*8
86
31,334
22,225
4,770
263
6,115
6,115
2,107
3,500
69
2,443
13,184
1,948
18,910
37,232
13,996
52,361
47,894
29,133
18,864
28,128
13,264
50,125
41,360
28,244
62,600
76,628
491,030
464,666
18,197
601
17,283
4,042
31,213
4,420
1,214
17,124
4,042
31,194
4,137
649
139
662
1,869
49
7,008
2,217
7,277
21,678
1,973
7,008
2,217
7,277
19,123
1,952
2,55:
21
53
2,59:
2
2
310
310
6,lo£
1,U4
1,114
513
366
8,000
50
21,900
6,411
6,220
716
1
173
1
8,167
1,384
8l4
19
283
360
407
1
360
407
1
Asia:
China Mainland 2/ p
Formosa 2/ p
Bong Kong
India
Indonesia
.
3't,937
65,522
60,393
138,201
33,91*9
55,566
136,986
28,331
991
39
3,718
13,047
250
121*, 732
11,921
111,967
7,284
226
5,481
4,781
32,315
4,728
29,723
1,271*, 1*1*1*
1,133,310
114,200
26,93'*
135,421
129,174
2,566
358
2,562
358
4,424
2,894
8,766
4,396
2,890
8,139
19,008
1,370,138
l'',055
lt06,Ul5
39li,972
17,256
11,835
399,136
373,265
53,315
51,31*2
Turkey
Other Aala..
16,930
157,357
12,11*7
1,1*10,979
Total Asia.
74,685
16,265
11,796
391,518
360,218
22,761
Iran
Israel
Japan
Philippines.
Thailand....
2U,261»
1
3,900
565
3
139
2
29
Other countries:
Australia
Belgian Congo
Egypt and AngloEgyptian Sudan
Union of South Africa.
Other
27,051
50,758
23,972
Total other countries.
50,1*00
878
23,094
15,018
35,380
2
49,854
7,900
800
18
16
93,934
2,809
85,129
80,696
21, 161
18,261*
61t,7Uo
55,950
30,824
10,348
53,255
21*8,839
229,282
132,539
International
1,620,033
1,620,031
136,442
1,419,375
64,214
Grand total.
8,U50,OlU
7,033,735
4,222,536
2,430,529
380,670
1/
2/
Beginning with March 1947, incluiee balances In accounts opened by
occupation authorities for foreign trade purposes.
Beginning with March 1951, data for China Mainland ( including
28
147
9
4
3
400
227
12
18,345
400
263
549
390
159
1,251,405
79,502
39,231
46,141
41,924
4,217
Manchuria] anl Fonaooa are shown separately. Since the separation, minor
Inconsistencies may exist In the reporting of the data.
Preliminary.
Treasury Bulletin
66
CAPITAL MOVEMENTS
Section III - Details for Month of March 1951
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thousande of dollars)
Country
1/
Beglnnlne vlth March 1951, data for China Mainland (including Manchuria)
and FomoQa are ohown eeparately. Since the separation, nlnor Incon-
aietenciee may exist In the reporting of
Preliminary.
Aiiqust 1^)51
67
CAPITAL MOVEMENTS.
ection
III A - Pr«llBlnary Details for Month of May 1051
Table 1.- Short-Term Claims on Foreigners
(Poaltlon at end of month In thouaanda of dollara)
Countary
Treasury Balletin
6B
CAPITiU. MOVEMENTS
Section III A - Preliminary Details for Month of May 1951
Table 2.- 6hort-Ter« Liabilities to Forelgnera
(Foeltlcoi at end of month In t^ouBande of dollajr«)
Country
Aiujust 1951
69
CAPITAL MOVEMENTS
Seotlon III A - PrellBlnu7 Oatalls for Month of May lOBl
Table 3.- Purchases and Sales of Long-Tern Securities by Foreigners
(In thousands of dollAn)
Purohasaa I7 foralsnan
DoBAatio aecurltlaa
CouDtxjr
Total
purohA««a
Europe I
Auatrla
Bal«liB
Ctaohoelorakla.
Denaark
rinlai^
310
3,551
ent
1
1
186
1,2^5
3
1,1(60
305
279
381
1
180
381(
26*
13
1
2,1(02
1,160
II.
6,186
35
Franca
1,268
1*6
. .
Honrajr
Poland
Portugal
7«8
5
687
3,207
36
3
6
66
ll.lWt
7,052
229
fioaaatlo
Total
aalaa
Corpormta and other
boo&a
and notaa
827
Gemany
Oraece
Italy
Natuarlanda,
Ocram-
O.S.
8«la« b7 foral^oara
Faral^n aaourltlaa
35
Ul
536
2,175
1(7
183
l(3l(
3,658
79
102
588
65
777
47
U.S.
OcTvm-
—um
Foral^ aaourltlaa
I tiaa
Ocrporata and other
ant
bGoOa
and not*«
1,917
2,873
8
519
i,fOT
3«
2l>
•,665
20
136
830
30
1
305
3,122
16
169
10,23l(
9,727
15l(
22
315
10
1,119
8
1,038
8
79
2
189
253
135
225
2,11(9
317
1,233
1
35
362
7
380
20
28
219
2,195
19
1
2k
259
32
8
9
k9
11
333
12
Ruflianla. ...,,,.,
Spain
56
,
Sveden
Svlttarland
lltS
90
50
5
h9
7
2
82
15
k
32,555
1,201*
1,112
25,819
1,636
2,78l(
26,132
1,210
87l(
21,1(72
1,211(
Ik
1,362
Ublted Elngdca.
Tugoalarla
Other Europe , . ,
22,1(60
5,099
1,028
2,199
3,050
27,1(02
13,230
800
6,063
3,&ri
3,1(38
1
813
11(7
1*7
U,081(
1
5U7
38
3U
511
19
32
328
123
9
Total Europe
82,269
15,090
"(,277
1(1(,908
10,00l(
7,990
78,172
26,588
't,05k
3kjOik
6,538
6,958
W»,033
2,318
5,5M(
1J.,531»
13,997
10,61(0
110,327
2,297
8,321
10,589
80,036
9,0Sk
622
302
U3U
Z9k
261
318
77
1,01(5
78l(
180
78
ih
1(9
9
5
1(78
57
237
67
366
250
25
25
153
82
Un
26
6
2,129
97
1,005
836
3,761
20
181
1.12
280
U. S. S.
,
B
. .
.
Latin Aaarlca:
Argentina.
BollTla. .
Braill....
Chile
ColcKhla.
1,017
387
1,893
598
507
Cuba
It.lUS
DcmljQlcan Republic
Guatemala
Mexico
Netherlanda Veat Indies
and SurlBan
.
Peru
Republic of Fanaaa
El SalTador
917
166
109
61(1
2,1(01
288
28
977
2,350
51
5i
, .
Total Latin Anarloa,.,.
22
3,366
1,U07
216
21,785
27
l,9l»0
2
102
206
Urugiiay
Venezuela
Other Latin Aaerlea.
99
211
2,171
1
2,590
21(5
292
218
97
123
1
lU
2,021
31.
3
520
2,032
290
16
655
1(86
323
78
19
2,308
2,526
16
3,280
3
363
1,385
1,686
20
108
1,902
US
231
1,903
6
2,530
1,313
197
U,l(l(9
12
1
1.8
76
30
2
9
500
21(9
3
1,'*83
55
3
2
126
52
7
171
3
16
111
53
1,92'»
LL8
197
1,1(11
153
2
12
1,105
391
1(2
1(1(0
11
21.
ll(,8ll(
1,813
205
10,863
708
1,225
1,339
1
99
13
13
5
2
6
11
10,300
1
11
19
1
10,253
16
11(0
127
2k
Aala;
China Mainland l/.
Foraoea i/
Ho£^ Kong.
India
Indonesia. .......
Iran.,
larael
Japan
Fhlllpplnea
Thailand
368
89
279
12
3,097
11(9
1,561(
1*4
k
15,011
15,000
31
11
12
12
91
1,383
k
12
U
18
12l>
36
63
9h
36
Turtey
Other Aala....
31
60
27
39
Total Aala....
18,911
98
15,21(2
2
61
u
91
1M9
12k
111
2U
20
2,179
1,'(75
91(3
1
210
15
718
13,106
325
2,363
12
Ik
10,261
xk^
Other countrlee:
Australia
Belgian Congo
Egypt and AngloEgyptian Sudan
Itolon of South Africa.
Other
Total other countrlea.
Intematlcoal
Grand total.
i/
85
22lt
170
1,11U
31
1(2
60
702
165
917
121
1
9
"•3
16
k
172
1,125
173
219
16
1,173
12,366
12,100
239
27
180,957
1(6,702
12,675
71,270
1,593
27,1(60
Beginning vlth March 1951, data for China Malnlanl ( Inclullng Manchuria)
and Formosa are ahovn separataljr. Since the separation, minor incon-
22,850
689
71
1
13
2
198
61(8
18
258
1,1(11.
19
273
7<(
1,908
199
10,139
10,039
228,1(66
1(1,261
100
12,593
59,263
LU
slstencles may exist In the reporting of the data.
97,662
17,687
Treasury Bulletin
70
CUMULATIVE TABLE OF CONTENTS.
September 1950 through August 1051
Issue ani page number
1950
1951
Sept
Apr.
May
Julj
Articles:
Treaaury financing operations.
Summary of Federal fiscal operations.
Budget receipts and expenditures:
Receipts by principal eourceB
Expenditures by major claaslf Icatlona
Expenditures for national defense and related activities.
Expenditures for international finance and aid
"Other" expenditures
,
Sunmary by months and years
Social Security Act
Railroad Retirement Act
Railroad Unemployment Insurance Act... •...•..., ,••
Trust account and other transa ctions:
Summary of trust account and other transactions
Trust accoimt receipts
,
Trust account expenditures other than investinents
Net Investments of Government agencies in public debt securities.
Federal Old -Age and Survivors Insurance Trust Fund
Railroad Retirement Account
Unemployment Trust Fund
National Service Life Insurance Fund
9
9
10
10
11
11
9
9
10
10
11
9
9
10
10
11
12
12
13
13
Ik
Ik
12
12
12
12
13
13
Ik
Ik
13
13
15
15
15
15
n
U
9
9
10
10
11
11
Treasury cash Income and outgo:
Summary of cash transactions
Derivation of cash budget receipts
Derivation of cash budget expenditures
..•.«
Derivation of cash trust account transactions
Derivation of cash borrowing or repayment of borrowlne.
Cash operating Income and outgo by months
IS
12
13
13
lU
lU
lit
lU
General Fund of the Treasury:
status of the General Fund
Analysis of change In balance in the General Fund.
General Fund balance by months
Debt outstanding:
Summary of Federal securities
Net change in Federal securities
Interest-bearing public debt
Net change In interest-bearing public debt
Interest-bearing guaranteed securities
Special Issues to U. S. Government investment accounts
Computed Interest charge and computed Interest rate on Federal
securities
Treasury holdings of securities issued by Gcvermient corporations
and other agenc ies
Public debt and guaranteed securities outstanding by months
16
16
17
17
18
18
16
17
17
18
18
16
16
17
17
18
18
16
16
17
17
18
18
19
19
19
19
19
19
19
19
19
19
20
20
20
20
21
21
20
20
21
21
16
16
16
17
17
18
18
Statutory debt limitation:
status under limitation
Application of limitation to public debt and guaranteed securities
outstanding
1,
,
20
20
20
20
20
21
21
21
21
21
22
23
23
23
23
23
21)
22
2k
2U
2k
2k
2k
25
25
25
25
26
26
26
Debt operations:
Maturity schedule of Interest-bearing public marketable securities
issued by the U. S, Government
Offerli^a of Treasury bills
Offerings of marketable Issuee of Treasury bonds, notes, ani
certificates of Indebtedness
Disposition of matured marketable issues of Treasury bonds, notes,
and certificates of Indebtedneee and guaranteed securities
25
25
(Continued on follovlng page)
25
71
August 1951
CUMULATIVE TABLE OF CONTENTS.
September 1950 through August 1051
-
(Continued)
I
I
^'-i
'
Treas.
HJ
U.S. Treasury Dept.
10
.A2
1951
C.2
Treasury Bulletin
@FedFRASER