Full text of Treasury Bulletin : December 1946
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miEASUMY.
EUHmTTEN
'
DECEMBER -I94B
ROOM 5013
OCC1SI946
UNITED STRTES TREnSURV DEPARTMENT
OFFICE DF THE SECRETRRV
December 1946
i
Table of Contents
Page
Cumulative table of contents
Articles:
The role of the savings bond program In today's economy
( speech by
the Secretary of the Treasury)
11
A-1
The economic problems of world peace and security
( speech by
the Secretary of the Treasury)
A-3
Other speeches by Treasury officials
A-5
Report on the assets and liabilities of all active banks
In the United States - December 31, I939 through
June 30, I9I+6
A-6
Treasury market financing
A-16
Federal Home Loan Bank financing
A-IS
Statistical section;
Summary of fiscal statistics
Receipts and expenditures and appropriations
&eneral fund of the Treasury
1
k
I6
Public debt and guaranteed obligations of the United
States Government
I9
Ownership of United States Oovernment securities
k6
Prices and yields of Government securities (Including
securities Issued by Federal agencies)
66
Monetary statistics
7I
Capital movements between the United States and foreign
countries and net position In foreign currencies
Note
59
Internal revenue statistics
76
:
In those tables where figures have been rounded to a
specified unit, all calculations (Including percentages) have been made from unrounded figures.
Consequently the details may not add to the totals shown.
Treasury Bulletin
Cumulative Table of Contents
December 1946
Cumulative Table of Contents - (Continued)
and pa^a msDbar
19I16
loT.
Oct.
Sept.
tag.
J1U7
June
May
Ipr.
Mar.
Tab.
Jao.
Bunmary of flaoal etatletloe
Bud^ataxy raoelpta and azpeDdltures
Public dabt aad gn^iarantaad ebllgatlona ontatandloc-
Maaaa of flnanoln^ eaah raqalramanta
Itooeipte and expenditures and approprlatlone
Bad£etar7 raoalptt and axpenditiuraa:
Changaa lo claaslfloatlon of e:g>endltura8 la Traanry raporta effaetlTB July 1. 19I16
Summary by aajor claaslflcatlona
Aaalyala of receipts froo Internal reT<muo
Analyala of general aipendlturea
Aaalyala of expandlturaa for rnr aotlTltlaa
Analyala of e:q}andlturea for (1) rarolTlng foado aad (2) traaafaro to
tmat accounts, etc
Analyala of e^^isndlturae of SoTernaent oorporatlona (vholly smad),
etc
(net
Total budgetary racelpta and a^endlturaa. by sontha, far recent yeara..
.
,
)
Traet accounta. etc., recelpta and eipendlturea
Heana of f Inajiclnf cash requlremanta
Soolal security program:
Bndgetary recelpta and eipendituraa:
Social Security Act
Bailroad Retirement Act
Ballroad Unomployraent Ireuranoe Act
Statement of truat accounta:
Federal 01d-i«e and SurrlTors Inaurance Tniat J^ind
Ballroad Bet Irement Account
Unemployment Truat Fund
lU
lU
Appropriations and net contract authorlsationa for the war aetirltles
proeraa
15-16 15-16 15-16 15-16 15-16 15-16
Caah income and outgo of the Treaeuryi
Analyala by major claeelfleatlona
Total eaah Income and outgo by moatha and oalaadar yaara beginning with
Jaauaiy 19*40
17
17
17
IVI6
17
17
17
17
17
17
17
Oeneral Fund of the Treasury
Assets, liabilities, and balance In Oeneral Fond.
Analyala of changea in balance of Oeneral Fund--.
Publio debt and guaranteed obllgatlona of United Statea aovernment
Public dabt and guaranteed obllgationa:
Detailed statement:
FlBCal years 1936- 19U5
Fiscal years 1937-19't6
Monthly data
Chart
Special Issues
Guaranteed obligations held by the Treasury
Coiaputed Interest charge and computed interest rate
Statutory liailatlon - condition, as of:
SoTomber
19U5
December 3I, igUJ
January 31, 19't6
February 28,
March 3I 19'l6
i^ril 30 19U6
May 31, 19I46
June 30, 19't6
July 31, 19I46
Aaguat 31, igUfi
September 30. I9U6
October 31. 19'l6
«
23-2"» 23-2U 23-2U 23-2ll 23-2U 23-2i»
22-23 23-2'tl
23-26 2ll-25|2ll-25
26
25
;
2lt-25 2lt^25
26
27
,
l^
,
,
25
Issuance and retirement of the public debt
26
Composition ef the intereat-baarlng public dabt
Maturity schedule of interest-bearing public marketable securitiaa iaauad
or guaranteed by the United States
Offerings of marketable iseuas of Trsaeury bonds, notes, and oertlfleatea
of indebtedness
27-29 26-28 26-28 28-30 29-31 29-31 29-31 29-31 29-31 29-31 29-31
30
29
29
31
32
32
32
31
30
30
32
33
33
33
32-33 31-32 31-32 33-3>> 3'^-35 3'^35
3M5
32
32
32
33
33
33
3'^-35 31^35
3^35
:
32
of Treasury bonds, notes, and
Offerings and naturitlas of Treasury bills.
(Contlooad on fellsvlag page)
33
3't-35:
.
Treasury Bulletin
CXimulatlve Table of Contents - (Continued)
and pa^e number
19U6
Sept.
P„hii. .leht an.i ^u^ranteed oh ll^ationB of
(continued)
Aug.
July
May
June
tea States Oovernment
llrl
United States savings bonds:
Stnnmary of sales and redemptions, by series
History of sales and reden^itlons
Sales by series, classified by denoDlnationa
Bumber of pieces sold, classified by denominations
Sales by series, classlflsd by States
Hedeinptlons of series A^E, classified by States
3l^-3i
38
P
37
36
36
36
35
36-3« 37-39 37-39
3''
35-37
36
36
37-39 37-39
37
Ul
36-37 36-37
3«
38
39-io 39-Uo
Ul
39-MO 39-So UL-UZ
itl
k2
36
Ul
U5 ita-U3 itS-H3
Treasiiry notes - tax and sarlngs series:
Summary of sales and redemptions, by serle
Sales, classified by:
Denomination
Type of purchaser
United States saTinga staaps:
Summary of soles and redeiq>tlonB.
Sales, classified by denominations.
.
eeourltlee
Ownership of United States Qovermnent
SummaiT distribution, by holders
i-bank InTsstors.
rehlp by
Itartet trajiBactlom In
accoimt B
,
OoTemment eecaTltlea for Treasury Inve.tment
monthly ^joglnnlne January 1937
eecjurltles
Treasury Surrey of Ovnerehlp of Onlted States OoTernment
'}!. 191*5):
(Tederal land hank bonde Included coanenclng January
Ownership hy banks and Insurance companies:
October 31. 19*5
BoTembor 30. 19''5
December 31 19^
January 31. ^S^
it9-53
,
rebmary
I9I16
28,
March 31. 19''6
April 30, IS^
Hay 31 19'*6
June 30. 19^*6
July 31 19U6
AuguBt 31, 19'^
September 30, 19W
50-5't
,
.
Ownership by various class
••
U9-53
of Federal HeserTe menber and nonaenber
56-60
cosunercial banks:
December 31 19'*5
March 31, 19't6
June 30. 19M6
September 30. 13^
..
,
Prices and vlelda of Qovernment Bee urltles
ieeued b y Federal agencleT)
5it-5g
(
Including
ecurltlea
»"*•*".
OTer-the-counter closing quotations and price history for P^\l<=
and by federal ageteles.
able securities Issued by the 0. S. OoTenment
HoTember 30. 19'*5
December 31 19't5
January 31. 19'*^
February 28. 19^
March 30 I9U6
April 30 I9U6
May 31, 19't6
Juno 28, 19't6
July 31 igit^
August 30, igitS
September 30 19'<6
October 31. 19'»6
.
,
,
61-63
511-56
.
.
bonds and notes
Chart showing yield structure of Treasury
514-56
60-62
63
high-grade corporate bonds:
Average yields of long-term Treasuir tends and
'.'.'.'.'..'.'.[[]..
Yields beginning with 1937
Chart
(Continued on following page)
56-60
December 1946
Cumulative Table of Contents
(Continued)
-
mmbar
Issue and page
19116
Sec.
Sot.
Oct.
Sept.
Aug.
JUI7
June
Apr.
Nagr
Har.
Teb.
Jas.
Corporatlone and certain other a^enclee of the
U. a. Qovernment
Assets, liabilities, and capital:
Deoeaber 3I. iglt?
March 3I.
69.
73-77
19I16
69.
73-77
Jnne 30, 13U6
61.
65-69
Loans outstanding, classified by type of loan:
Ueoenlier 3I, I9U5
March 3I, 19lt6
June JO, 1946
and expense:
First thrse nonths. fiscal year I9U6
nrst six nonths. fiscal year I9U6
nrst sine sontha. fiscal jaar I9U6
risCBl year I9I16
Incoise
e»47
eil-69
6IV-69
Sources and egiplloatlon of funds:
Tlrst three nonthe. fiscal year 19^*6
first six aonths, fiscal year I9U6
Tirst nine nontha, fiscal year 19M6
Tlseal year 19*»6
6«-73
70-75
76-8I
ftotODtes
76
itemal revenue etatlBtloe
Collections of Internal
Summary data
Chart
CeaparatlTe details for current periods
61
67
68
62
69-70 63-6U
6U
69
70
«5
86-87 71-72 66-67
62
63
78
79-80
65
66-67
6I1-65
77-7«
Monetary etatlBtlOB
Balance sheet of the Ixshaage Stabilisation Vund:
September 3O, igU?
December 31, I9U5
19I46
March 31
Jvme 30 igfe
Oold assets and liabilities of the Treasury
Increment from reduction In weight of gold dollar, cobulatlTe to:
December H, I9U5
March 3I, 191<6
June 36 19'<6
September 30, 19U6
Treasury gold receipts, for recent quarterly periods
Monetary stocks of gold and silver
Con^onente of silver monetary stock
Silver production In the United States and silver acquisition
by mint s and assay offices
Seigniorage en silver, by typee
Money in circulation
67-68
69-70
69-70
,
,
'69
"71
«9
"ii
,
Capital movemente between the United Statee ana foreign
countrlee
Historical summary of net capital movement elnce 1935
Summary by countries
7>-75
76-83
9i*-96
97-102
76-78
79-8U
88-89
90-93
76
T7-93
7>t
90-106
75-91
Details:
July I9U5
August igu?
September I'ih^
October 191*5
lovember 19U5
December I9U5
January-Tebruary
March 191*6
April I9I46
May I9I16
June 191*6
July 19I16
ga-s**
9I1-96
I9I16
Position in foral^ enrrenciee
8lt-86
gg-90
91-97 87-93
88-9U
97-wU
:
ID6-U3
December 1946
Hie Role of the Savings Bond Program In Today's Economy
The following address was delivered by Secretary Snyder at a savlnge bond
rally sponsored by the Federal EeBerve Bank of St. Louis at St. Louis,
Missouri on October 23. 19U6.
The savings bond program of the Treasury Department Is very close to my heart.
It Is a program that I am always happy to discuss.
first,
But,
want
I
express my
to
sincere
appreciation of what you people and the organizations which you represent are doing to forward
this program, and to thank the business concerns
of this community which are continuing active
payroll savings plans. Often at considerable expense to themselves, these concerns are performing a patriotic service and, at the same time,
are doing their employees a real favor.
The Treasury Department has
tives
two
main objec-
promoting the sale of savings bonds.
to
continue and. If possible, to
is
In
The first
further the wide distribution in the ownership of
In doing this, we maintain an
public debt.
important element of stability in our economy.
the
We
We are citizens
country.
Most
of
UB
When we are
existing.
ready
interest.
for
also bondholders
Keeping
debt widely
those
another
you know,
the Government no longer needs the net
proceeds of savings bond sales to help finance a
deficit.
The accounts of the United States are
now
more than balanced on a cash basis.
Every
additional dollar which we raise by the sale of
savings bonds, therefore, makes possible the re-
tirement of another dollar of bank-held dtbt.
These, then, are the
common
primary objectives
to maintain a wide-
spread distribution of the public debt,
and to
aid in our fight against inflation.
Some dollars,
think
I
important
tives;
you
than
will
others
in
a^ree,
are much more
attaining these objec-
almost without
money which is
and,
hard-to-get
exception, it is the
the
most
important.
That is why we need salesmen and -iIbs promotion.
That Is why it
tinue to take,
Is
taking,
plenty of
and why it will conhard work to maintain
our savings bond record.
over-all
The
it
al-
two
of the savings bond program:
record of
savings
and redemptions is very good.
bond
sales
Cash sales of all
series of savings bonds in the first nine months
of this year amounted to $5,900 million and ex-
redemptions
consideration of national
ceeded
ownership
the
E bonds only,
distributed
objectives
major
us
to
better citizenship and
for
thoughtful
more
a
gives
It
makes
It
problems.
the
are taxpayers.
Many of us have fought
another strong, enduring tie
adds
with our
and we
voters.
are
soldiers.
as
ties linking us
have many
all
The purchase of savings bonds also helps to
combat inflation by making possible the retirement of additional amounts of bank-held debt. As
therefore,
is,
of
of the
the
savings
public
one
of
bond pro-
gram.
second major objective of the savings
bond program is to aid in combating inflation.
It does this by drawing purchasing power off the
The
about
by
I90O million.
For
the record Is also good; but not as
for all series.
Cash sales of E bonds
good as
during the first nine months of the year amounted
to $3,500 million,
and fell short of redemptions
by about $800 million - a record which I consider
remarkably good, especially in view of the period
which we have been through, and of the predictions, which all of you heard, about the flood of
redemptions which would follow the
when goods are scarce - saving
when they will be abundant. The
purchase of savings bonds defers spending from
when it would contribute to inflathe present,
tionary pressures, to the future, when it will
savings bond
help to maintain full employment.
large part, by high sales of series F and Q bonds.
market at
it
for
a
a
time
time
end of the war.
c
But
waters
deun;
of
so
now
bonds
a
spring
that,
plowed fields
Is
like
storing up the
freshet behind an irrigation
instead of washing out
in
the springtime,
the bare
should like
to
go
further than
the
fine over-all record, which has been built up,
It
Buying
I
has
sales
in
also been helped by the continued high
$1,000 danomlnatlon E bonds - which are
of
bought,
the
for
most
part,
by
Individuals with
high Incomes.
they will make
the fields of the summer even greener.
Sales
of
smaller
denomination bonds
have
Treasury Bulletin
fallen off more than the over-all figures, and it
Is the sales of these bonds whloh count the most
has
terms of either of our major objectives that of combating Inflation or that of maintaining a widespread ownership of the public debt.
most common reason given for
rainy day."
In
the
shown
But
Our
to
can
Instrument
for
small
they participate
In
"to provide for a
still,
bonds provide
more
than
secu-
selling
Investor 1b the payroll savExperience has demonstrated that most
save money month after month only If
the
ings plan.
people
powerful
most
savings
Is
they also provide opportunity.
rity;
bonds
the
that
buying savings bonds
They provide family opportunity — opportunity to provide a reserve for educating our children, or for purchasing a home or a farm.
some type of regular savings
The payroll savings plan provides the most
convenient method of buying savings bonds - and.
plan.
In addition, assures their purchase In advance of
expenditures on consumers' goods.
Interested In some
I think that you will be
of the results of an analysis whloh we have made
of the present status of the payroll savings
Total participation In the plan has fallen
high of about 27 million persons during
the war to about 7-1/2 million at the present
but the average deduction has continued
time;
amounting now to around $1S.50 a
about the same,
This means that many of the employees
month.
plan.
from a
with smaller deductions have
dropped out
They provide Individual opportunity - opportunity to accumulate the capital necessary to go
Into business for one's self, or for further education or travel.
Savings bonds represent the Ideal way of
Today we
holding purchasing power In reserve.
But
are confronted with shortages on every side.
goods will be available In
In the years to come,
greater variety and for Immediate delivery. We
shall be able to get what we want when we want
It Is worth buyThis Is worth saving for.
It.
ing bonds for.
In
of the
plan altogether.
There have been many causes for the decrease
A sharp decrease, of
In employee participation.
course, was to be expected after the end of the
But there are also Important causes whloh
war.
conclusion,
I
leave
this
message
with
The savings bond program, backed so unself-
you.
It Is having
ishly by you people, is doing well.
Its effect In the battle against Inflation, and
Is helping to maintain a widespread ownership of
the
ter.
public debt.
We want to
Naturally, we want to do betsmall bond sales - to
Increase
you can do something about. A major one Is labor
When a man changes Jobs, his old
turnover.
payroll savings allotment Is automatically can-
bring In more and more of those hard-to-get dollars, which count the most.
It requires a conscious effort — and
celled.
often a real sales Job - to get him back on the
payroll savings plan at his new place of employThis Is one of the ways In whloh you are
ment.
and In whloh, I am sure,
now helping the most,
The E bond Is a good Investment - and you
doing a favor to the one you urge to buy.
You are contributing to the future well-being of
the Individual, and to the economic stability of
are
our Nation.
you will help.
There are plenty of reasons, based on legitimate self-interest, why every worker should want
to get on the payroll savings plan, or to Increase his allotment If he Is already a partici-
and the
The experience of the war period,
that lies between VJ-Day and the present
hour, has taught the Treasury Department that It
period
can always rely on your group for fine, effective
For the good deeds of the past, and
cooperation.
for
pant.
your
continuing efforts
In
the
future,
I
again extend my personal thanks and the thanks of
powerful of these reasons Is also
A reserve accumulated In
general one.
payable on
the form of series E savings bonds,
so far as It can be
demand, gives protection,
provided financially, against misfortune In what-
your Oovemment.
Every person has
ever form It may strike.
greater peace of mind when he knows that he has,
Every survey
or Is accumulating, such a reserve.
again work with us In this
particularly In promoting
The
the
most
most
In
your
connections,
through your business
through your Influence In wide-
own plants,
and
spread communities,
plan.
I
know
I
can count on you to
renewed bond drive payroll savings
the
December 1946
A-3
The Economic Problems of World Peace and Security
Bw f»li»irla« addrast was d«llT»r«d by Seorttary Snyd«r befor* tho Teralga
Folloy AiMSiatlea at PhlladalpUa, PanasylTaala an S>Taab«r 9. 19lt6.
It Is a pleasure to have this opportunity te
dlsousa with you some of the problems that oonfront this nation In our efforts toward world re-
deal with both political and economic stability.
President Truman has set forth clearly the pelloles of this nation In the International politi-
oovery, prosperity, and lasting peaee.
cal
The American people,
oauee
and
the
world,
grateful te organizations
be
te
have
suoh as
field.
These policies,
ably pursued by
Secretary Byrnes and our other representatives 1h
the United Nations, are above party or faction.
They have received, and will continue to receive,
yours dedicated to increased International underUndoubtedly,
standing.
our own national secu-
the full support of the Amerlean people.
rity,
and the
dependent upon
Today, I should like to deal primarily with
the problems of economic stability.
salvation
full
a
of all
natleas.
Is
comprehension of world
Interests.
I
The winning of
a
victory over our
military
enemies was but a mllepost along the road to a
world of peace and security, and we are fully determined to persist In our course until the final
goal Is realized,
believe that we have In our present degree
for gratification.
the peace treaties
has been made. Despite the conflicts of Interest
and of temperament, and of political philosophies,
I
of accomplishment much cause
Real progress toward writing
the nations are endeavoring with all sincerity to
am convinced that you cannot be stable on
and static on the other.
The hisof this critical era will oontaln
no
the one hand
tory
brighter chapter than that which details how the
great and small nations, in the midst of a war
for survival,
had the wisdom to plan cooperatively for the difficult days to follow the
armistice.
The people of the United States can be proud
our nation took the load In this program,
and that they themselves,
and a Congress rising
above political divisions, gave effect to It.
that
attain a practical understanding among peoples.
Nor would
Our
own
country has
a
vital
stake
In
the
creation of a sound and stable economy throughout
the world.
Just
epidemic
slums,
so
germ of
as a whole city may be engulfed In an
from disease bred In some blighted
the whole world can be> engulfed by the
strife bred In the environs of a morally
or economioGLlly bli^ted people. We have seen it
happen before, and we have not been able to save
ourselves from its consequences.
I overlook
the morad accomplishthat witnessed not one, but all the United
Nations assuming each a share of the responsibilities for revival and reconstruction.
ment
We were faced with
immediate,
concrete
the
steps
necessity of taking
aid a world sick
to
from devastation, hunger and ejdiaustion. We can
of our contribution,
greater than that
of any other nation, to this obligation.
be proud
New life had to be Injected into world procapacity,
both industrial and agricul-
ductive
For the sake of world peace, and that means
own seJce, we must continue to throw the
for our
power and the prestige, and the material force of
cooperative effort toward
this nation into the
world security.
Tor the prosperity
labor, we must
of
bend every
perous world, one
in
our
own
effort
which
the
industry and
toward a pros-
interchange of
tural, that had been crippled through destruction
and deterioration.
Transportation and shipping
facilities had to be restored, and the enormous
damage to all types of public and private property had to be repaired.
The adoption of such a
course was absolutely necessary for the proteotlon of our own economy.
America must maintain
her merchant
marine and she
support her foreign trade.
must
unfalteringly
goods and services will benefit all.
In our search for peaee and security we must
Initial steps toward foreign rehabilitation
were taken by the United States through the ex-
Treasury Bulletin
A-k
tension of credits, directly as In the ease of
that voted by the Congress to Oreat Britain, and
other nations through the medium of the
to
Export-Import Bank.
And now, ready to take over the longer range
financing of reconstruction, ready because of the
serious study given before the end of hostiliIs the International Bank for H«eonstruoties.
maximum of benefits. This la most Important, for
the
trend of private investment in the future,
much larger in scope, will neoeaaarily inherit
the results of our actions now.
The International Monetary Fund provides one
of our principal hopes of promoting common stand-
ards of fair practice in the commeroiaQ. relations
of nations.
tlon and Development.
the greatest importance to
building a sound basis for world
trade, since it is the only alternative to uncontrolled currency restrictions and discriminating
both of which are ruinous to
trade practices,
We have attached
Positive steps are necessary to enable the
world to gain Its maximum development through a
and the International
free exchange of trade,
Monetary Fund la now preparing to facilitate that
The trade provisions of the Anglodevelopment.
the program
of
American Financial Agreement, and other efforts
such as the International
In the same field,
Trade Organization, will contribute further to
3uch
economic stability and world prosperity,
methods restrict rather than expand the benefits
They breed distrust and disconof productivity.
tent that undermine our whole process of Interna-
the expanding flow of commerce.
tional cooperation and threaten the peace.
cooperative efforts should not only
Immeasurably In the restoration of our
world patient, but should afford real protection
Certainly In such a
against recurring disaster.
summary we should mention the permanent United
No one is inclined to believe that the dollars made available to the world through our con-
These
assist
Nations organization
medium for carrying
which
out
we
hope will be the
tribution to UNRRA, our subsorlptions to the Fund
and Bank, and our investments in direct credits,
will, alone, bring us a new world in which everyone is prosperous.
these same goals In the
We have simply taken
political realm.
The United States has been in the forefront
effort at building a stable economic
And we must continue to exert that
world.
of
the
basic steps neces-
the
permit the orderly development of world
The life blood of its full development
economy.
sary
to
will be,
as it has been in the past, free enter-
prise and private capital venture.
leadership.
Once
It was recently my pleasure to preside, as
at the Annual Meeting of the Boards of
Chairman,
Governors of the International Bank for Recon-
struction and Development
and
of
the
Interna-
tional Monetary Fund.
Each
functions,
Institutions has distinct
but both have the common objective of
of
these
create,
of war-devastated areas, and the
more enduring function of stimulating the flow of
international capital for development purposes.
reconstruction
acquaintance with the
Oovernors, the President, and the executive staff
I have become fully confident that
of the Bank,
its operations will be sound and will produce the
Through
my
personal
to
the productive
capacity of the world, and have created fair
practices under which its maximum development can
be achieved - then we will have the ideal founda-
tion for
capital.
free
the
Obviously
major source
The International Bank will assume the imfunction of supplying capital for the
our
penditures have given new life
a balanced world economy.
mediate
institutions we have helped to
direct advances and relief ex-
the
and
of
the
operation
United
of
enterprise and
States
must be
the
such private capital for several
since virtually all creditor nations have
years,
This prospect offers a
been devastated by war.
challenge to the ability of
intelligently
and
avoids the mistakes of
tion
our capital to func-
Unless it
past we will have
flexibly.
the
wasted not only our resources, but a critical
opportunity and responsibility. We must remember
that unproductive capital impoverishes both the
lender and the borrower.
December 1946
k-3
Our contributions to thsa« International
oooperatlTS enterprises for world reoovery and
nation has ever achieved, we must find time to
consider our International responsibilities.
rather than the
progress oonstltute a beginning,
fulfillment of our alms.
Actually we
a stable economy
We must guard against that quality of lapaIn our American oharaoter whloh might
tlenoe
Into a "what's the use' psyohology. We
Into a new Isolationism of frustration under whloh this richest and most powerful nation will let Its potential for world
Impel
us
must not drift
cannot separate our concern for
home from our concern for a
at
stable world economy. A continuing prosperity In
these United States In the long run will contribute more decidedly to world health than all the
steps we have taken thus far.
There
many elements
are
But we should never have any Illusions
about the extent of time and effort necesesiry to
cure the Ills of a wso'-wrecked universe. We oiust
of strength In our
hold forth a promise of
continued full production and wide distribution
of goods, and of an expanding trade for a long
period ahead.
Current record earnings and the
accumulated savings of our people represent a
tremendous purchasing power.
There is the demand
for consumer goods, a vast, unsatisfied demand at
home and throughout the world.
There is the
display forbearance, we must strive for sympathy
and understanding with our neighbors. Above all,
great potential expansion of our facilities for
providing products and services for our own coun-
we must not become discouraged.
try and for export.
leadership be curbed or Its
betterment be dissipated.
Impatience
for getting
contributed much to
Influence for world
on
with the Job has
progress as a
our material
nation.
Another
danger
we
American people have to
temptation to concentrate our
and our energies, on our own domestic
to
the exclusion of international reaffairs,
true that we can meet
It Is
sponsibilities.
the
combat Is
attention,
those responsibilities only if we remain strong
and healthy at home. But we must not entirely
lose sight of the rest of the world in our preoccupation with political and eoonomle complications here.
No one would deny
present
we
have problems
situation
As
there
I
is
Most
of
that
have said before,
I do not believe
reason for a depression psychology.
our so-called obstacles to continuing
economic well being will disappear if we will but
submerge immediate self-interests and concentrate
on long-range advantages.
If
we
match the elements of material
exist In our country with an equal
moral stamina,
there need be no interruption of
our era of progress.
Then, our American system
stetmina
can
that
labor and management, annoying ones, such as our
and free enterprise will carry us
forward to new heights of prosperity at home, and
to new heights of opportunity In the oommunlty of
temporary shortages of this or that.
nations,
But along with our amazingly rapid reconversion to peace, in the swelling tide of producsmd In
tion, in the record level of employment,
the greatest material prosperity we or any other
have a firm belief that the same system of
our own country strong
and prosperous holds the greatest promise to the
world for prosperity and peace.
at home,
serious ones,
that
such as
do
those involving
of democracy
I
free enterprise that made
Other Speeches by Treasury Officials
On October 23, 19*^6 Secretary Snyder addressed the Chanber of Commerce of St. Louis,
He urged that the unity of purpose
Missouri.
which carried us to military victory be continued
towards building a stable economy and a genuine
world peace.
Copies
the Office
of
of
this
speech
the Director of
are
available from
Public Relations,
Treasury Department, Washington 25, D, C.
6
Treasury Bulletin
A-
Report on Assets and Liabilities of All Active Banks
in the United States
December 31, 1939 through June 30, 1946
On Oeto'bar 18, 19U6, the Conptrsllar of ths OarreBe7 released the regular
eal-aimual report as assets and llahllitlas of all actlre hanke 1/ in the
^e data, lAleh ooTsr
thlted States and possessions as of June 30, 19'^>
a total af lU,626 banks, vera eonpilad froo call reports of national hanks
and frea infomatlon prorlded hjr State bank n^arrlsarjr authorities on
Bistorloal data frea prerlaus semi-aniraal
banks under their sT^errisien.
and annxial reports of the Coaptreller af the Cturaney hare been nsad in the
preparation of this artiola.
The current report on banlc assets and liabilities as of June 30, 19*^6 shows the first conclusive effects of the termination of the war on
The most Important develthe banking structure.
opment during the first six months of 19'*-6 was
the Introduction of the debt pay-off program of
the Treasury Department In contrast with the bor-
rowing program which had been carried on previThis program of cash pay-offe has had a
ously.
direct bearing on United States Government de-
of
the
balance
sheet,
eurred in United
the
States
decline
oe-
Government de-
The Treasury's debt reduction
posits.
program Involved the use of Federal Government deposits in commercial banks In
order to make the cash pay-offs on maturing securities.
(3)
The Federal Government's debt pay-off
program was also reflected In changes la
in commercial banks as well as on bank
holdings of Federal securities. In addition, the
change in the Government's financing program was
reflected In some of the other asset and liabilThe most significant developments in
ity items.
loans and discounts.
the last six months and during the war years may
be summarized in the following statements!
real estate,
posits
During the first
six months of 19*^6 loans
to
eanry secu-
rities, which had been inoreaslng during
the war In connection with the various
war loans, began to decline. Consxuner,
and business loans, on the
other hand, showed substantial Inoreases
as durable goods reaohed the market, the
(1)
Total assets
first
their
war during January through June
They dropped $5.6 billion from
the December 19^-5 all-time peak to a new
total of I172.7 billion as of June 30,
of
demand for homes increased, and the reconversion to civilian production took
all active banks showed
decline since the beginning
of
place.
the
194-6.
(M-)
For
the
six
and
one-half year period
since December 31> 1939. the two classes
of commercial banks (national banks and
19'^6.
State commercial banks)
(2)
1/
decline
In
toted
as tised by the CoapteiB "all custive banks"
troller of the Onrreney, eoapriess the two elasaes of
eaameroial banks (national banks and State ooanerolal
banks), autnal savliiss banks, and private banks.
but does not inolode federal Beserre Banks. This differs froB the oonoept used in the "Treasury Bollatin"
tables on ownership of United States Qoverment seourltlas (page H8 in this issue), in which the term
banks" Is used ta cover ooomercial banks and Federal
Bsserve Banks with autual savings banks treated as a
All flguree ooiq>iled tj the
nonbank investor gro'^p.
Coaptreller ef the Currenoy are shown at book value
iriiile the figures on bank ownership ef the debt in the
Bulletin" tables are shown at par value.
Bie
showed
signifi-
cantly greater Increases In assets than
mutual savings banks.
During the six
assets was reflected almost entirely in decreases In
bank holdings of United States Government securities. On the liability side
The
months
ending
June
30,
mutual savings banks
growth while assets of
,
19't-6,
however,
continued their
commercial banks
were declining.
(5)
During
the
first
six
months of
19''-6,
while United States Government deposits
were decreasing, some of the other de-
posit
items
continued
to
increase.
billion decline in United
States Government deposits was in part
Thus, a
111. 2
.
December 1946
A-7
by a $7.0 billion Increase In
time and demand deposits of Individuals,
offset
partnerships, and eorporatlons,
posits
Class of banks
and de-
States and polltloal subdivi-
of
(in billions of dollars)
sions.
(6)
The
deposits
aeoounta to total
active banks has de-
of oapltauL
ratio
for all
clined during the period fron Deaeiik>
ber 31» 1939 through J^ne 30, 19^6. The
ratio of oapltal aeoounts to deposits
National banks
State commercial banks
Uutual savings banks.
Private banks
Total
First decline
assets
In
since
beginning of
war occurred during January-June 19*^6.
The latest report on bank assets and liabilities Indicates that during the first six aonths of 19'^
bank assets showed their first decrease since the
beginning of the defense and war periods. This
new trend reflected primarily the Federal Qovernnent's debt reduction program whl oh was started
The Oovernmsnt's oash balanoe
on Uarch 1, 19^6.
had been built up considerably as a result of
over-subscriptions In the Seventh War Loan and
Ileanwhlle, the budgetary outthe Victory Loan.
look of the Federal Oovernsent had li^roved substantially, making It possible for the Treasury
to use some of the funds
to
of maturing seourltles
Maroh 1, 19*^6.
During the
19'l-6,
total
each
six months
assets of
gill
pay off a large part
month
beginning
Jan\uiry
The
total of |172.7 billion as of June 30, 19't^.
of oommerelal banks (national bcmks
two classes
and State commercial banks) reflected this change
In trend by shewing a comparable decline In
assets resulting primarily from reductions In
of United States Oovernment securities
on the asset side and United States Oovernment
deposits on the liability side of the balanoe
sheet. Ifutual savings beinks, on the other hand,
had an Increase In assets during the period at a
holdings
that
shown during pi^vlons
These banks had praetloally
slx^menth periods.
no deposits of the United States Government to be
The following
drawn on for the pay-off program.
bank
table presents a distribution of total
assets by classes of banks as of June 30, 19^3t
December 31, 194^5, and June 30, 194^6.
+11
90.5
70.5
17.0
0.3
l78.'^
«6.o
18.0
0.3
172.7
-5
1-8
+7
+11
9
Total
-+i
1
-3
Bank holdings of United States flovemment
seourltles show downward trend. The Federal <Jovernment's debt reduction program was responsible
for slgnlfloant changes In the various asset
Items, and partloiaarly United States Oovernment
seourltles, during the six aonths ending June 30,
19'^6.
Bank holdings of United States Ckivernment
seourltles showed a decline of $5.'^ billion In
the first six months of 19^6 from the peak on Deoember 31, 19M-5.
The following table presents a
distribution of the various asset Items as of
June 30, X^'y,
December 31, 19M-5, and June 30,
throu^ June
I5.6 billion from the all-time reported peak of
on December 31, 19'»-5 to a new
$178.'!^ billion
rate consistent with
National banks
State commercial banks
Mutual savings banks..
Private banks
19»^6.
active banks declined
ii.a
65.1
15.9
0.2
163.0
Peroentage change
Prom June 30, From Deo. 31,
19'^519»^5-,^
,
Deo. 31, 19^ June 30, 19W
minus oash and United States Qovernment
securities, however, has risen.
Bank Assets
TotsJ. assets
June 30, Dec. 31, June 30,
19'^5
19H5
19^5
Assets
.
Treasury Bulletin
holdings In
tors.
the market
by
sales to other Inves-
Thus, In the first six months of
lS>i-G,
na-
tional bank holdings of United States OoTernment
securities deollned $1^.0 billion, while holdings
of State oommerolal banks dropped $2,2 billion.
centage increase of 123l(«
the distribution of total
Change
Total assets
Class of banks
Their Increased holdings resulted
|0.« billion.
from purchases In the market from other Investors
as well as from deferred purchases made In the
table below shows
assets by olasses ef
banks as ef Seoember 31, 1939 tnd June 30, 1946,
In contrast to this, mutual savings banks
continued to Increase their holdings of United
States Qovernment securities during the first six
months of 19'(-6, even after the Federal Oovernment
Prom Deoeastarted Its debt reduction program.
ber 31, 19't-5 to June 30, 19'*-6, Federal security
holdings of mutual savings banks increased by
^«
Deo. 31, June 30, »_^„«. Percent
^"^"*
19^
1939
(In billions of dollars)
National banks.
State commercial banks. .
Mutual savings
banks
Private banks..
35.3
«6.o
*50.7
1-143
29.5
66.h
+3«.9
1.132
11.9
0,9
10.0
0.3
•6.2
52
-0.6
-68
Total
77.6
172.7
+95.1
H23
Victory Loan.
Other asset items also affected by debt reBank loans were also affected
duotlon program.
by the Oovernment debt pay-off program during the
first six months of 19*^6 as reflected In deollBIng loans to carry securities. During the period
of large-scale war financing, bank loans for the
purpose of purchasing and carrying seomrities
were made In substantial number and amount.
and real estate loans
Consumer, business,
showed the beginning of peacetime financing as
more consumer goods became available In the first
During the six months January
half of 19'»-6.
through June 19lv6 loans ©f all types rose by $1,2
billion.
Other securities, comprising State and local
and misoellaneous securities. In the first six
months of 19'^6 also showed a new growth which had
For the pestarted very slowly early in l9^.
riod they had an increase of $0.6 billion.
Total assets increased 123^ from DecemThe change
ber 31, 1939 throu^ June 30, 19't-6.
in total assets over the recent six-month period,
although an important departure from trend, did
not make a deep inroad in the increases over the
Heaviest
growth
the
classes
two
banks
and
Stats
e—m>yi«l baahe
in
As
6-1/2 year period.
the heaviest growth
of
of
the
above
ever
table shows,
bank assets occurred in
commercial banks (national
coDmerolal
banks).
The
in-
creases of over 130^ in the assets of these twa
classes of banks are largely a reflection of the
rise in demand deposits over the period, sinoe
commercial bsutks hold all of the demand deposits
This increasiag
(with negligible exceptions).
trend,
as described above,
has been t^versed 1b
the last six months.
Mutual savings banks, as the table shows,
had a muoh smaller increase in assets (32^) ever
This was due
the six and one-half year period.
to two factors:
(l) the deposits held by this
class of bank are almost exclusively time deposits, which increased at a materially slower
rate than demand deposits during the early war
yearsj and (2) these banks are concentrated in the
northeastern part of the country, where wartime
business e:qpansion did not reach the levels of
other legions. For the last six months, however,
savings bank assets have continued their upward
trend while the assets of oommerolal banks were
declining because of withdrawals of Oovernment
six and one-half year period since December 31,
1959, for convenience this date is used to repFor
resent the beginning of the defense period.
the six and one-half years, total assets of all
They
active banks increased by 95-1 billion.
deposits.
rose from $77.6 billion at the beginning of the
period to $172.7 billion at the end, a total per-
that class as some of the larger ones
Into the coramercial bank category.
The decline in assets of private banks dvuv
Ing the last six and one-half years resulted primarily from a decrease in the number of banks in
shifted
December 1946
Onlted
seourlty
tlmea.
States
Qovmaant
hol41ng8 nultlplled 5
Over the alx and one-
half year period,
1939 to June 30,
States
A-9
Ooremment
Deeember 31»
United
19'^6,
seourltles
showed the most substantial Inoreases among the rarlous asset
FedersLl seourltles held
Items.
by all aotlTe banks Inoreased
by $77.1 blllloH or 396^ during
United
the period (Chart 1),
States OoTernnent seourltles aocounted for four-fifths of the
Inorease ef 195.1 billion in
As a proportion
total assets.
of total assets of all aetlre
Federal seourltles rose
baJiks,
from 25^ on Deoeniber 31, 1939 t«
56^ on June 30, 19't-6. The following table presents the major
asset Items as of Ooeembor 31,
1939 and June 30, 19*6, and tho
ohange oyer the period.
Chart
I
-ASSETS OF ALL ACTIVE BANKS
IN THE UNITED STATES^
December
31.
1939- June 30. 1946
Detail of
Assets
Treasury Bulletin
Titles amounted to about $9.0
billion at the beginning and end
They made up 12^
of the period.
of total assets as of Decem-
dropped to
ber 31, 1939 and
5^
After hav-
as of June 30, 13^6.
AND CAPITAL ACCOUNTS
OF ALL ACTIVE BANKS^ IN THE U.S.
Chart 2- LI ABILITIES
December
Detail of Liabilities
since
*-— Capital Accounts
fvSsc.
been increasing steadily.
the
same
beginning
-
as
at
Savings Deposits
•~^TIme
the
six and one-
the
More
are
sets
3
data on as-
detailed
given
Tables 1,
In
2,
at the end of this article.
Bank Liabilities and
Capital Accounts
United
States
Qovernment
In first 6 months of
On the liability side of the balance sheet
for all active banks, the most significant development during the six months ending June 30, 19't-6
deposits almost out In half
19't-6.
was the decline of United States Government deposits as a result of the Federal Government's
debt reduction program. The following table presents the aajor liability Itams aa of Jtib« 30,
19't-5t
December 31,
19'^5,
Liabilities and
capital accounts
and June 30,
f^litical Subdivisions
\u. S. Gov't and Festal
year p»rlod.
heilf
and
of
level
and
S^Deposits of Bonks ^
^ \peposits of States and
As of June 30, 19''-6, other securities had finally reached almost
Deposits
" Other Uabililies
-.
have
securities
ether
1939 -June 30, 1946
172.7
ing declined by almost $2.0 billion from 1939 through XSkJ,
these
31.
$ Billions
19*)-6.
December 1946
lationship has been changed more
sharply than the later evidence
Chart 3 presents
Indicates.
figures on demand and time deJune 30, 1931«
From that date through June 30,
193s time deposits were consist-
posits
back
to
ently larger than
Chart
3-DEMAND AND TIME DEPOSITS OF INDIVIDUALS.
PARTNERSHIPS, AND CORPORATIONS
June 30.1931-1946
$
$
All
Active Banks
demand depos-
its, although the difference was
narrowed
gradually
throughout
It was with the
this period.
beginning of defense and wartime
expansion,
however,
historical
trend
and
demand
Increase
that
this
was reversed
deposits began to
at
a
r/me Deposits'^
significantly
greater rate than time deposits.
The
following
sents a distribution
table
pre-
jor liability Items as of Decem-
ber 31. 1939 and June 30, 19'4^6
and the change over the period.
Liabilities and
capital accounts
1935
1937
of the maIncludes banks n
Treasury Bulletin
plua, undivided profits,
during the war period.
and re seizes
showed an
Increase of $2.3 billion.
Table 3
at
a distribution
olassea
of
the end of this artlole presents
of
banks
the various liability Items by
as
of
Deoember Jl, 1939 and
June 30, 19'*^.
Capital
Capital aooounta show 35^ Inoreaae.
Increased from $3.3 billion to 111.2
accounts
billion over the six and one-half year period, a
Of the capital
rise of $2.9 billion or 35%.
common stock showed an Increase of
stock Items,
billion while capital notes and debentures
3urand preferred stook declined $0.3 billion.
$0.'^
The ratio
posits
ohangsd
of
capital accounts
to
total de-
on Deoember 31,
If total
1939 to 1 to 1M-.35 on June 30, 19^6,
deposits are offset by cash and United States
from
1 to 8.27
QoTernment securities,
the ratio of capital to
remaining deposits becomes 1 to 3*10 for Decent*
ber 31, 1939 and 1 to 2.75 for June 30, 19')-6.
The
accompanying
tables
1,
2,
and 3 give
more detailed data on liabilities and capital aooounta.
December 1946
A-13
Table 1.- Assets and Liabilities of All Active Banks In the United States
December 31, 1939 through June 30, 1046
ig"*!
Number of banks.
15,096
1'^.956
Assets
Loane and dlecounte:
Loans on real estate
Other loans, Including overdrafts.
9,102
l?.g73
Total loans and discounts.
Securities:
U. 3. Government obligations:
Direct obligations
Guaranteed obligations....
Total.
Obligations of States and political subdivisions...
Otner bonds, notes, and debentures
Corporate stocks, including stocks of Federal Reserve Banks
Total securities
Total loans, discounts, and securities
Currency and coin
Balances with other banks, including reserve balances 2/
Bank premises owned, furniture and fixtures
Real estate owned other than bank premises
Investments and other assets indirectly representing
bank premises or other real estate
Customers' liability on aoceptancea outstanding
Interest, commissions, rent, and other income earned or
acorued but not collected
Other assets
Total assets.
Liabilities
Deposits of:
Individuals, partnerships, and corporations:
Demand
Time
Total.
3. Government and postal savings
States and political subdivisions
Banks ?/
Other deposits (oertiflad and cashiers' checks, etc.)
U.
Total deposits 2/
Bills payable, rediscounts, and other liabilities for
borrowed money
Acceptances executed by or for account of reporting
banks
Interest, discount, rent, and other income collected
but not earned
Interest, taxes, and other expenses accrued and unpaid.
Other liabilities
Total liabilitle
Capital Accounts
Capital notes and debentures
Preferred stock
Common stock
Surplus
Undivided profits
Reserves and retirement account for preferred stock and
capital notes and debentures
Total capital accounts
Total liabilities and capital accounts.
^}7
23,967
15,1*46
4,002
1/,
A- 14
Treasury Bulletin
Table 2,- Assets and Liabilities of All Active Banks in the United States
Classified by Kind of Bank, June 30, 1946
1/,
December 1946
A-15
Table 3.- Sumnary of Assets and Liabilities of All Active Banks
In the United States!/, Classified by Kind of Bank,
December 31, 1939 and June 30, 1946
Treasury Bulletin
A-16
Treasury Market Financing In October
Historical detsdla of Treasury market financing operations InvolTlng bondG,
notes, and certificates of Indettednosa, beginning with the Jlfth War Loan,
Details of weekly Treasury
are published In the tables on pages 30 and 31.
bill offerings are shown on pages 32 and 33-
Cash Pay-Off and Refunding
On October 21, 19^ Secretary
ownership
of
the Treas-
ury Snyder announced that payment would be made
In cash for about #2,000 million of the $3.77*
million of 7/S^ oertlfloatee of indebtedness maturing on November 1, 19't-6. At the same time the
Secretary announced that an offering of a new,
one-year 7/8^ certificate was being made, par for
par,
exchange for the remainder of the matuCash subscriptions were not received.
In
rity.
The new certificates were dated November 1,
and will mature November 1, 13^7. They will
bear Interest at the rate of 7/8^ per annum,
which will be subject to all Federal Income
Following the procedure Instituted retaxes.
I9W
cently, Secretary Snyder announced that Interest
on the new certificates will be paid In full with
the principal at maturity.
The certificates were Issued In bearer form
only In denominations of $1,000, 15,000, $10,000,
Subscription books
and #1,000,000.
#100,000,
were opened on October 21 and closed at the end
of business on October 23, except for the receipt
of subscriptions from holders of #25,000 or less
of the maturing certificates, for which the books
remained open through October 2M-.
On October 3I, the Secretary of the Treasury announced that exchange subscriptions for the
Subscripnew Issue aggregated #3, ''32 million.
tions In amounts of #25,000 or less were allotted
SubscripIn full In the amount of #^1 million.
tions in amounts over #25,000 were allotted 51^
on a straight percentage basis, but not less than
#25,000 to any one subscriber, and with adjustments to the next highest thousand where necessary.
Total allotments amounted to #1,77**- mil#2,001)- million paid off In cash.
lion, with
Reports to the Treasury on the ownership of
Government securities Indicate that on Septenhber 30, 19U6 about two-thirds of the #3.g billion
of maturing certificates was owned by reporting
commercial banks
and Federal Reserve Banks.
The
figures
for
September
30,
are
the
latest available.
Total Cash Pay-Of fs to Date
with the payment In cash of #2.0 billion on
maturing certificates,
the
total of cash pay-offs since Febiniary 28, 191*^6
has amounted to #19,5 billion, or more than 50^
of
securities maturing or
of the #37.9 billion
the November 1, 191+6
for payment since that date. The following table shows the details for each month.
called
Cash Pay-Offe on Maturing or Called
March-November 19lt-6
December 1946
Composition of Q-rosa Public Debt and
Guaranteed Obligations 1/
February 2S-November 1, 1946
A- 17
Treasury Bulletin
The deereasea shown by the first and third groups
were negligible, while corporate holdings deThis decline, of which
clined by $3.7 billion.
about half occurred In their holdings of savings
version and expansion.
notes, reflected payments on heavy 19'^5 tax liabilities and the need to raise funds for recon-
I63 billion or about one-fourth of the total.
Individuals continue
bank holders
of
to
be the largest non-
the Federal debt, accounting for
Federal Home Loan Bank Financing
On October
Banli
lion
of
Bank
bonds
was
19'*^,
15,
the
Federal Home Loan
Administration made an offering of
the
1-1/1*^
due
Jl^K)
consolidated Federa]
Home
to mature in 1-1/2 years.
which was
dated July
1
and matured on August I5,
mil-
1946.
Loan
This
will be used to provide credit resources to member institutions and for other purposes.
The additional $38 million of funds raised
first bond offering made by that agency.
Previously,
were
funds
raised
The
from time to time
new
bonds are the Joint and several ob-
The
consolidated debentures.
new bonds, which are non-callable, were dated
October 15, 19^+6 and will mature April I3, 194-8.
They were offered at 99-7/8% of par and accrued
Interest on the bonds will be payable
interest.
ligations of tne eleven Federal Home Loan Banks
and are not guaranteed by the United Btates Oovernment either as to principal or interest.
The
on April 15 and October I5 and will be subject to
It was announced that the
Federal income taxes.
of the Federal Home Loan Bank Administration, National Housing Agency.
by the issuance
offering was
of
heavily
oversubscribed
Federal Home Loan Banks are instrumentalities of
the United States and are under the supervision
during the
day on October I5.
The proceeds from the sale of the new bond
issue were used to refund two issues of consoli-
dated debentures
maturing on
October I5 and
to
maturities
comprised $67 million of .90% debentures dated
April 15, I9IV6 and $35 million of li debentures
The latter issue replaced
dated August 15, 19'*'6.
raise some additional funds.
a similar issue
official
The
Loan
Home
of
The
announcement
of
the Federal
Bank Adralnietratlon
stated that the
bonds are legal for Investment by savings banks,
insurance companies, trustees, and other fiduciaries under the laws of many States.
tv/o
debentures in the same amount
A
dealers
bonds,
nation-wide
assisted
which
in
were
selling
group
of
securities
distribution of the new
offered through the fiscal
the
agent of the Federal Home Loan Banks.
December 1946
SUMMARY
OF
FISCAL
STATISTICS
Treasury Bulletin
Budgetary Receipts and E^xpendltures
(In mllllonB of dollars)
December 1946
Public Debt and Guaranteed Obligations Outstanding
(In
BlUlooi of dollars)
Treasury Bulletin
AND EXPENDITURES
AND
APPRO PRI AT IONS
RECEIPTS
.
.
.
.
.
.
.
December 1946
Budgetary Receipts and Expenditures
Table 1.- Sununary by Major Classifications
(In alllloaa of dollars)
ft^andltoraa 1/
OoTammeDt
Leas net
approprlatloat
to ?aderal
01d-A«« and
SuTTlTora
loBuranoe
ust Fund
laternal
'17'
Total
AZpasdlturaa
Oaaaral
War ajld
d«feBi6
aotlTItlsa
to trust
corporation!
(wholly
aeeounta.
0«ad),
Tranifera
ate.
(nat)
5/
5.2?t
19''0.
5.925
8,269
5.161
5.303
7.3fe
Will.
13,661!
23.385
22, IW
19'»5.
't7.7'<0
l|li,239
273
515
286
916
3,292
12,993
19t3.
19IA.
"15, 1408
ISW.
265
387
503
538
''.597
5.67't
Ul,685
'3.902
2,581
2.609
December.
ll,122
19U6-Jamiar7
7abruary.
March
3.81(8
3. 6811
iprll
May
2.73^
2.998
10/12/
2,310
2,308
U,ogo
113,038
2.530
.
lt,US2
5.695
'16,1157
52
205
2,3110
32.397
78.17?
93.7IW
100.397
63.711
Ull,lll9
3. ''51
3.875
5.762
661
869
1.103
1,260
1,283
1,201
10/
12/
3,ll83 12/
3.''93 12/
1(0,310
19U5-Ootol>er..
HoTaniber.
10/
10/
8,177
7.239
8,707
8.998
12.711
5.029
5.855
5.165
5.387
7.607
12.799
22,282
2.3711
11,581
''I
U.118
5.013
3.8I9
3.678
15
5.7I17
6I19
265
367
3
2.677
2.733
U,U79
8.730
11.559
929
1.029
1,206
1.657
6.301
26,011
72,109
87.039
90.029
l8,5l2
787
130
1.201
158
138
379
3.''35
3.8115
791
660
2,028
li.26e
3.86U
5.352
3. 117
2,702
2,550
1,190
1.100
3,066
6O8
225
5,126
1,226
1,2l5
July
August.
September
2.600
2-. 717
2.251
305
183
61
283
2.539
3.6111
2.11911
li.Ugl
11,291
lUT
3
2,ii3U
ll,U78
2.932
2.755
2.691
1.271
1 718
October.
2.617
2.230
3U1
73
2,5liU
2.965
1,191
10/
11/
19.598
55.897
119. 5?5
381
I35
556
1.616
1.918
1.181
115
Dally Treasury Statement.
Beglimine with fiscal year 19I5 certain reTlslons have been made In
See 'Treasury Bulletin." September I9I6. pa«e 5.
this table.
Excludes amounts for public debt retirement which are chargeable to
the sinking fund, etc. under special provisions of law.
For further details, see Table 2.
For explanation see tables which follow entitled "Social Security
1.381
3.5l2
3.611
5.103
187
232
331
53.9'il
20,676
-132
3.165
2.208
895
-31
-75
-757
1.012
-2U3
-1,902
38
1.591
1.131
873
-870
-96
1.190
1.509
1,100
.
3.111?
2.560
2,182
2,112
6,lli9
11,860
.1
2.383
3.9U8
5.583
6,611
5.985
7.313
7.109
6.079 11/
6,005
5.635
5/
V
y
1937.
19381939.
budgetary
daflcit
18
1.105
199
-1.723
-59
120
Such
Includee recoTeries of U. S. InTestments In capital funds.
recoTeries totaled $51 million In the fiscal year 19IO! $319 million In the fiscal year 19II: $18 million In the fiscal year 19l2l
and $10 million in the flacal year I9I3.
Receipts from reductions in capital stock and paid-in surplus
available to be reissued under existing law are Included as negaSuch reductions totaled $315 miltive items under e:q>endi tures
lion.
Program'*.
12/
Table 3.
Tor further detail
Table U.
For further detail
Table 5.
For further detail
Table 6.
Tot further detail
Let receipts,
Total e:q)enditure8 1
eipenditures of OoTernment corporations, etc. (net) see table
on "Truat JUicounta, Etc. Receipts and Zipendituras" showing tranaaotiotts in cheeking aBcou9ts of QoTeinoent agencies, etc. (net).
Includes deposits resulting from the renegotiation of war contracts.
Information on the amount of such deposits is not availOn the basis of
able on the basis of Ikily Treasury Statements.
covering warrants, such deposits were as follows: fiscal year
1913. $558 mllllonj fiscal year I9II. $2,235 million: fiscal year
These
1915. $2,011 million, and fiscal year 19I6, $1,063 million.
figures include so-called voluntary returns.
Table 2.- Analysis of Receipts from Internal Revenue
^
(In millions of dollars)
fij^lojnsent taxes
Income and profits taxes
Social security taxes 1/
Withheld by
ei^loyars
Other
Federal Insurance
Contributions Act
(Old-age insurance)
2/
Federal Unemployment
Tax Act (Unemployment Insurance)
Carriers' Taxing
Act of 1937
(Railroad
retirement)
HiBcellaneous
internal
2,181 5/
2.279 5/
I9I
1.597
5.671
5.161
5.303
7.362
2,163
2,610
2,189
2,125
3.170
2.163
2,610
2,189
2,125
3.170
253
755
710
833
925
511
530
601
12.993
11,685
13,902
10.310
7.960
16.091
31.655
35.173
30.885
8,393
10,289
9.392
7.960
16,091
26.262
21.881
21.193
1,186
1,198
1.739
1.780
1.701
896
1,130
1,292
1,310
1,238
2,310
2.383
3.91s
51
238
707
1.021
119
2.659
58
3.366
3.151
3. 681
5.583
2.755
2.790
1.838
5^
March
1.086
658
2.201
1.701
1,180
51
310
97
April
May
June
2,310
2,308
1,080
1.603
1,107
3.392
185
966
650
1,118
112
2,712
65
285
73
269
July
August ....
September.
2,251
2,191
1.291
1.189
1.513
3.550
511
1.070
705
971
113
2,815
67
302
62
281
695
679
656
October.
2,230
1,101
557
817
71
70
752
19371938.
1939.
19I1O.
19UI.
19I2.
1913.
1911.
19U5.
19I6.
22.1111
1915-October
Bovember.
December.
.
1916- January
February.
>ce:
*
1/
2/
V
.
.
1.593
1.52lt
691
7
Dally Treasury Statement
Less than $500 thousand.
For further details, see chapter entitled "Internal Revenue Statistic
Excludes receipt of victory taxes withhold pursuant to the Revenue
Such receipts have been classified as "Other" Income
Act of 19l2.
and profits taxes.
Includes unjust enrichment tax.
3. 817
209
267
285
283
1.553
5.291
6,919
7.725
689
602
516
33
7
85
615
615
For the period prior to September 1939, the data in the columns
entitled "Federal Insurance Contributions Act" and "Federal Uneoployment Tax Act" represent collections under Titles VIII and IX,
respectively, of the Social Security Act.
Includes less than $500 thousand in receipts from "A^icultural
Adjustment taxes".
.
.
Treasury Bulletin
Budgetary Receipts and Expenditures
-
(Continued)
Table 3.- Analysis of General Expenditures
iJ
(In millions of dollara)
Veterana* Adjslnlstratlon,
iQtereit on public debt, and
refiindB of taxes and duties
Other general expendlt.
Social
security
program
Administration.
1/5/
i/ 1/
1/
otherwl
claBslfled
y
ClYlllan
Conserration
Corps
1937
1938
1939
igiw
19U1
b.bltl
7.109
b.079
1.687
1.751
l')kS
6.005
5.b35
b.lUs
8.730
lit. 559
1.906
2.456
3.500
6.258
10.620
5.985
7.313
l9'»3
19l»U
19''5
19Ub
1.503
1.567
U30
1.201
igUS-January.
February.
March. ..
791
6£o
2.028
582
U67
1.215
I.U90
i.too
3.066
1.103
1.015
2.69U
1.07U
823
1,227
.
April
Hay
Juie
Jtlly
Au^Bt
.
.
.
Septembei
5.136
"t.itib
91*1
5.751
557
553
l.OUl
1.111
5. '•21
555
572
629
931*
1,260
1.808
2.609
3.617
2.871
'1.722
392
85U
1.228
I.5UI
8U7
It.
91
76
262
1.707
3.027
327 11/
1.718
llt2
*
1/
2/
3/
U/
5/
6/
2J
8/
525
5itit
2.1(72 12/
763 12/
3.938
998
10/
163
3''7
515
51t
529
U97
550
3i6
1.895
167
l.'t76
2.2112
1.573
125
138
l.37lt
590
692
35
U/
788
8U2
l.llll 15/
1>I8
162
2. '(07
251
255
318
209
193
813
387
I7U
106
523
UI5
U96
1.395
516
1163
2U9
361
189
95
iio
562 12/
I1O6
512
Uglt
2l6
U31
1,620
U5I
U92
i.ozU 16/
Eblly Treasury Stateoent.
Lees than $500 thousand.
Oeneral eipendlturee now include expenditures for revolving funds:
back figures have been revised accordingly.
Includes public works undertaken by the Veteran a Adjnlnlstratlon.
Ebes not include transfers to trust accounts, etc. These are
shown In Table 5.
"Refunds of taxes'* Include amounts transferred to public debt accounts to cover issuance of excess profits tax refund bonds and
Ixexclude refunds of taxes under the Social security program.
cess profits tax refund bonds were formerly issued to corporations entitling them to a post-war credit equal to 10^ of the excess profits tax paid. The Tax Adjustment Act of 191(5 reduced by
10^ the amount of excess profits tax to be paid and abolished the
post-war credit. War amounts of excess profits tax refund bonds
Issued, see the first table in chapter entitled "Public Debt and
Guaranteed Obligations of the United States Government". Outstanding excess profits tax refund bonds may be redeemed at the option
of the holder commencing Jantiary 1. 191(6: when such redemptions
occur, they will appear as retirements of public debt.
Consists of Department of Agricxature expenditures, except forest
roads and trails which are included in Public works.
Includes railroad retirement and railroad unesiployment activities
and excludes expenditures made by Department of Labor, tT. S, Sbploynect Service (formerly Office for Bknergency Managenent. War
Manpower Commission, U. S. &q>loyment Service), under authority
of Social Security Act.
ft)r further details, see tables which
follow on the Social security program.
Includes public buildings, public highways (including forest roads
and trails), river and harbor work and flood control. Tennessee
Valley Authority. Federal Public Housing Authority (formerly 0. S.
Housing Authority), reclamation projects and the Public Works Adjninistratlon.
Sxcludee certain expenditures for public works in connection with war activities by the Federal Works Agency, beginning
July 191(1.
Excludes expenditures for the IT. 3. Maritime CommlBsion. depart-
311 11/
lUl
216 11/
58
29
October.
oat
9>(>
738
326
290
283
257
18lt
1.098
1.093
912
It.
099
3.178
2.6U9
1.02U
8OU
1.000
9U9
I157
971
925
llOO
igUj-October..
BoTember.
December.
.
581
582
1.5611
laneouB
relief
2/
8/
Ik/
^
10/
11/
12/
l^/
iH/
15/
16/
12/
lU/
3't7
W
mental expenditures under the Social security prograsi and the DepartDent of Agriculture departmental expenditures. Beginning
Juljr 191(6. Includes expendlturos formerly claBsifled as
departmental
For additional Infonnatlon. see "Treasury Bulletin" for August 191(5.
page 6.
Includes expenditures for the following:
Office of Education, and
Public Health Service of the Federal Security Agency; Poet Office
Department postal deficiencies: Federal Housing Administrtition;
Treasury Department investments in Federal aavlngs and loan associations; certain expenditures of the Panama Canal; and Capital steok
of the Federal Deposit Insurance Corporation, Home Owners' Loan Coi^
poratlon. Federal home loan banke. Dlaaster Loan Corporation, and
Export- Import Bank of Washington.
Orose expenditures have been reduced $315 million representing the
repaynent of capital fonda by certain United States Government agencies.
For further details eee "Treasury Bulletin" for June 191(3.
page 9. footnote 12.
Includee $257 million for restoration of capital impairment of Commodity Credit Corporation applicable to fiscal years 191(3 and 191(1(.
Includes $500 million for Commodity Credit Corporation - postwar
price support of agriculture.
Classified as miscellaneoue expendituree commencing Jtily 1. 191(5.
Expenditures during the fiscal year 191(6 Include tb'Jh million for
Export-Import Bank of Vaehli^ton - capital stock, and $159 million
for International Bank under Bretton Woods Agreeaents Act.
Includes $921 million for restoration of capital impairment of
Commodity Credit Corporation effected by cancellation of notes
pursuant to the act of July 20, I9U6.
Includee expenditures of $300 million during July 191(6. $100 million during September 19l(6. and $200 million during October 191(6
Also Includes $100 million during
for oredit to United Kingdom.
August 191(6. $100 million during September 191(6. and $125 million
during October ISkS for Export-Import Bank of Washington - capital
stock.
. .
. .
.
December 1946
Budgetary Receipts and Expenditures
-
(Continued)
Table 4.- Analysis of Expenditures for War and Defense Activities
(In alUloni of dollu-i)
Todoral
Dapart-
LeaT* Act
of I9U6
Soovlty
Tolorsl
Work!
929
1.029
1,206
1.657
6.301
1937
IM«
1939
19'lO
19111
26.011
72.109
«7.039
90.029
37«
1132
190
667
3.67«
i/
llt.070
'•2.265
19>t;-0ctotor..
loTaabar.
Daoiabar.
19'^6-JaBuar7.
Tabniarj.
Naroh
i^rll
Hay
Jano
Jnlj
Aa^tt.
.
Saptaabar
Octobar.
car
*
1/
2/
^
k/
119,21*2
8.580
20.818
26.538
50.337
27.SOO
15.161
5.126
W.226
2.976
2.552
ll,2ll5
2.it76
3.''17
^i^}
191*
19"^
19U6
1.519
1.581
1.^82
2.702
2.550
2.560
2.182
2,Wt2
1.190
1.509
1,100
Lllgl
torrloo
(odBlBloratlTo)
557
596
673
892
2.313
'i«,5'e
19'»2
HoualM
lC«tt07
1/
Oaltad
»ar
•tatat
Harltlaa
DopartOolBtailBla.
•l»a
latloul tolOCtlTO TrMo-
30,oli7
1.590
1.239
990
1.566
Dal tad
tatlOBi
lollof
Sarpli
proport/
dlopooal tlTltlOO
a^BOli
taroi J/
51
696
2.011
2.llt3
519
1.201
153
133
929
2.776
3.812
3.227
69"
l.'>32
1,1»62
1.198
1.041
695
7't
1*5 5/
2.0>t2
1.367
(8
105
57
72
51
132
1.105
1.922
178
150
'^
111
60
7"»
118
^3^
l.l»20
57
1,2U2
96
300
675
384
169
1S9
91
616
Dally Treasurjr St&tflasnt.
Laii than $500 thousand.
AdalnistratlT* expenaea In cartTlii^ out proTlilons of Act ar«
Included under Var, Vavy. and Trsavxiry (Coast Ouard) Dopartaanti.
Include! war public houBlne function*.
Includa* war expeodituroi of Coaserce, Justice, Interior. Labor, and
State Departaents; Civil Service ConlisloD; Izeeutlve Office of the
President (including Office for kergency Manaceaent); Panaaa Canal;
and capital stock of Saaller War Plants Corporation. Includes Defense JLld Special Fund through the fiscal year I'^'i; thereafter
such expenditures are reflected within the respective departaeat*.
Classification changed to reflect expenditures for the fiscal year
I9U6 vBdar "Var actlTltlas". Prior year ezpenditures are Inoluded
under 'Qeneral'.
Payaent of $370 ailllon ms aade on Dec. 29. 19^. ky the Tederal 9arplus Oomaodlties Corpoi'^tlon of the Departaent of i^loulture te the
CoDBOdlty Credit Corporation In relaburssaent for acrieultural coaaodltles procured In connection vlth the lend-leass prograa and reflected In previous expenditures by the Coaaodlty Credit Corporation.
Total payaents for the fiscal year IS'*^ aaounted to $9^7 ailllon.
Bffeetlv* Sopteaber 1, I9U6. expenditures of the Var Shipping Adalnlstr«tlvn are inoluded with the expenditures of the U. 8. Maritlae
Coaalssion to which all fnaotions wsrs transferred for the purpose of
liquidation by Deceaber n, I9U6, pursuant to Sec. 202. pohlie lav
U92, approved July 8, 1946.
Table 5e- Analysis of Expenditures for Transfers to Trust Accounts, BtCe
(la allllOBs of dollars)
Veterans
Adalnist rat lea
1/
2/
1/ i/
WW
I9U1
(U.
132
11I5
19'»3
221
27"
318
556
l,6k6
1.918
islji
I9lt6
8.
Aid to
apiculture
Tadaral
eeatrlbatioa ta
Dlitrtet af
Oalnbla
share)
73
75
19'«
19'»'*
Oovemaant
•apleyees'
retlraaent
"7
i08
225
l»7
232
331
1937
193«
1939
Social
•ecority
prograa
1.126
1.311
302
17
93
103
107
177
197
2<t7
2*7
126
(
71
6
6
6
6
-3
•
-18
19l»5-Octobar...
loTOBbor..
Dacoabar..
19>t6-JaBiial7. .
7obrttai7.
6sk
Ike
6>»T
lk«
March
23
23
iprll
200
95
?
631
l«2
3«
95
5
226
13
32
17"
•toy
Juna
Jalr
lacaat.
.
..
laptHbar.
Ootebar.
001
•
1/
2/
13
52
.
Qall7 Traaiurx StatiBont.
L««t thaa $500 thaaaaad.
Additional traasactloQi are ahotrn In Tabla 3*
Coaprlioa idjaitad Sorrlca Cartiflcata ^mld and tho latlonal Sarrlc
Lifa laouranca Tuad, adalnittarad by tho Tatorano' Adainlotratlon.
Ineludoo railroad rotlr«ant and railroad uaoaploTaont actlTltloo. fcr
farthor oxplanation lae tabloi which follow on social ocurity prograa.
Hepraianto tranaaotiono in eoBuodlty food itaapa by Dapartaent of Acrloulturo.
Thit actlTltj feraorlj oaao undor tho Offieo of Diotrlbatlon and prior tboroto andor tho Acricultoral Markatlac Adainlotratlon.
.
Treasury Bulletin
Budgetary Receipts and Expenditures - (Continued)
Table 6. - Analysis of Expenditures of Government (Jorporations
(Wholly Owned), Etc.
(Net)
(In llllent of dollars)
Couiodlty Xxport-lnport
Bank of
Credit
Corporatioc
Washington
IS^
-7
-1.305
19't6
'•71
Federal
federal Pabll< Home Owners
Houalng
Housing
Loan
nlnlBtratlon
Aathorltjr
Corporation
19U6-January.
February.
March
Adalnlstratloi
-288
-23
-3te
-159
3t
-76
15
-165
118
-3U
-18
1»72
-31
-75
-757
Rural
nectrlfleatlo
328
-323
-275
2/
-l.OUU 2/
-62
-"7
-39U
I9U5 -October..
NoTember.
DeceBbor.
Beconstructlon Plna
Corporation 1/
2U
-33
-5J
-631^
April
-21
-3
^^
May
June
-151
July
Au^et.
-959
y
6U
-15
-30
.
Septeaber
October.
-5lt
13
Dally Treasury Statanent.
Laii than 1300 thousand.
Includai transactions on account of R7C Kortga^a Company, Taderal
Hatlonal Mortgage Aasoclatlon, Offics of Metals Beaerro, Offlca of
Bubbar HesarTa, Office of Dafansa Plants, Office of Dafanae 3i^ppllaa, U. S. ConsDarolal Company, War Damage Corporation, and &ibbar
Devalopaent Carporatlon.
Payaanta of $937 million hare been made during the fiscal year I9U6
by the A^le\ilture Department (charged aa war and dafenaa actlrltlaa)
to the Commodity Credit Corporation in relmbursaaent for agrleultural
commodities procured la connection with the lend-leaaa program and
Table 7.
M
5^^
-110
y
U/
reflected In prarlous aocpendlturoa of the Comaodlty Credit CorperatloQ.
Similar payments during the fiscal year I9H5 aaountel to
$1.1S2 BlUlOD.
Represents payment to Commodity Credit Corporation under act of
yebruary 18, 19^*6.
The act of July 20, 19^. authorlted the Secretary of the Treaaxury
to cancel notea of the Commodity Credit Corporation In the amount
of $921 million for the restoration of Its coital Impairment.
This amount Is treated as a general expenditure with a corresponding credit under Oorernment corporations (wholly owned), etc. (net).
Total Budgetary Receipts and Expenditures by Months, Beginning with 1937
(In
Ullons
of doUars)
Kay
July
Het budgetary receipts 1/
19'tO.
19U2.
I9U3.
ISUi.
igU?.
19U6.
230
3O8
5'*1
687
799
1.566
578
788
2.7U7
3.556
3.819
758
955
2.503
3.767
3.678
290
373
967
916
3l)0
1937.
1938.
1939.
271
315
304
565
too
39U
3.5'«7
5.206
6.573
6.892
5.7*7
1,514
3.087
2.929
2,677
1,480
2,950
3.085
2.733
828
19U2.
19'Ift.
19^.
19>t6.
1937.
1938.
1939.
19MO.
19>»1.
igte.
19't3.
19UI1.
19U6.
492
7'»7
678
676
711
1.135
lU
^?3
397
2.492
".569
6.24r
7U7
2.007
587
2.721
2.568
2.997
4.479
fcU7
2.163
2.695
2.539
Budgetary expenditures 2/
1937.
1938.
1939.
19'W.
19U1.
ltl2
UU9
367
77"t
557
6U9
1.276
2,U3l*
2,527
5.'*7
5.926
5.189
U.U7g
292
300
279
286
350
36U
823
672
521
k.918
5.8*
362
607
2.030
2,001
2.530
2.54U
7'K)
56U
1,212
8.8>I9
601
16,403
^U.554
4U, 421
46,0U6
2.099
2.701
5.736
2,2llO
5, "•16
2,37't
4,118
December 1946
BUDGETARY RECEIPTS AND EXPENDITURES
Net Budgetary Receipts
JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN
Budgetary Expenditures
..
.
.
Treasury Bulletin
Trust Accounts, Etc. Receipts and Expenditures
lllloni of dollar!
(la
Totsi tru»t
funds, etc.
[n.t r.oelptg (+)
net vxpendlturoi (-)]
ftdaral 01d-A«e and
SurrlTora Insurancfl
Trmt rind
Hot
K«o»lpti '^•'>il-
Secelpts
29lt
+275
1937
1938
1939
255
*sih
+ll6
-lUs
19'iO
19'tl
717
I9't3
19'«
19't5
19U6
19l»5-October..
1.1^
1.1107
1.3"^
1.7
MoTember
Decsober.
931
1.190
1.363
-319
19U6- January
52
235
315
763
838
529
577
707
qito
-3.506
-1.8£l
-".osi
+791
-52H
191*2
J^ipooll-
95q
l.llU
3
46
316
905
2.127
1.357
1.377
1.323
l,2lA
36
320
1.399
1.567
1,508
1.280
893
2.351
•9
96
l,2lt3
l.l40«
l.56lt
1.508
32U
1.2lt«
312
275
323
308
113
86
25
9
276
2,102
2.332
1.118
18U
U2
93
603
250
131
.
robmaiT.
--'??
IfaTcta
-295
April
Hay
June
-265
265
109
July
August
September
231*
283
33
37
13
325
October..
156
1^
223
.
61
.
175
I7i»
190
163
-55
U9
277
165
209
1*
Trust Accounts, Btc. Receipts and Expenditures
-
(Continued)
(In mllllonB of dollars)
Othar trust aeooimts 1/
lyeoial' deposit
aaeounts and ale
eellaneoue funds 2/
Inoreaent
on gold
obligations
(net) 2/
Other
transactions (net)
858
323
3U9
366
838
327
325
311*
+20U
+768
1I06
1937
1938
1939
I9U0
I9UI
386
-218
+852
-1,069
-3.625
-1,809
-1,815
-1,500
-1.529
92
U72
658
+129
91*9
620
1.693
2,126
191(2
19't3
19I1U
191*5
191*6
19U5-Ootobor.
Bevenbsr.
Deceaber.
.
.
Febroary.
March
iprU
July
August.
-2.871*
1.669
-1.553
-95
-1.553
-95
-61*7
-356
1.3
-51
30
1
-167
-13«
-8T
+1*6
-u
-9
*153
-190
-37
57
57
-93
-93
-17U
-111*
3I8
5h
+1*2
-16U
+102
19
+27
-Hg
55
+22
..
October.
1/
2/
-691*
-i*,ii03
-165
.
September.
*
-2. 1911
*20l*
*3
June
n.a.
2U1
la
"V
Source:
Bote:
1*26
567
820
1,072
2.257
95
113
.
19l*6--Janaary
-337
-251*
+31*
t^ly Treasury
111
Stateaent.
Beginning vlth fiscal year 19U; certain rSTisions have besa
aade in this table. See 'Treasury Bulletin,* 3eptegl>er 191*6, page ;.
Bet aTnllalMe.
Less than $500 thousand.
(See footnote 2.)
Includes OoTerntent Retirenent funds, sto.
Comprises Public Woi^e Administration r«TOlTing fund, fecial
+22
36
deposits (net), and, during the fiscal yearBl9'*0 through 19>*5,
transactions in cosoBodlty food stsmpe by the Departaent of Agrleulture. Commencing July 1, 19l*5> such transactions are classified
as 'other trust accounts",
let receipts in this column constitute net sales, and net e3g>enditures constitute net redsaiptione of obligations.
.
.
.
December 1946
Means of Financing Cash Requirements
(In millions of dollnrj)
iBOunt required to %e financed
Total aaount
required
to be
financed
3. lit?
1.38'>
1937
1938
1939
Met
bud^tary
deficit
Het decreaee
in public
debt
let
Meant of financing
let
expendltnrei
li
Increaee In
public debt
In Oeaeral
Tnnd balance
i/
2.61t6
1.384
1.38't
3.5'*2
19110
3,611
igUi
5.99'»
19't2
23.'t6l
622
it.i6lt
3,611
5.103
7U2
5.99't
7'W
3.275
2.528
5.99*
23. '•61
6U,27lt
19.598
55.897
*9.595
358
6,515
10,662
SS.itTO
53.9'»l
'',529
19^6
21,200
20.676
3.368
3.8>«
12.773
3.165
2.208
895
March
1.3^9
327
1.593
-1,902
April
Kay
June
3.705
2, Wit
It, 298
1.591
1.131
873
2, lift
2,257
1.223
1,105
U99
-1,723
1,152
72U
2.177
.
HoTemberDeceinber.
igMfi-Jamiary
.
Pebmaiy
.
.
.
July
August
September.
.
.
October.
.
3,506
i,e6i
'•,051
58,1170
52U
9I17
37"
306
890
136
10.7'«3
3.36s
1,632
11.558
117
3 ,8110
3.52>t
12.773
12,773
1.3^9
327
1.593
772
327
295
265
2.W47
U.298
1,0U2
-21(3
53>»
1,316
3,161
.
.
etc.
64,307
57.679
6i».307
19'»5
19lt5-October.
128
338
let
recelpte
-In trust
^counte,
23.'t6l
6U.27't
6U.107
3.611
19't'»
19>*}
Net decreaee
In Oeneral
Fund balance
Sally Treasury Statement.
Beginning with fiscal year 19115 certain revisions hare been made
In this table.
See 'Treasury Bulletin," September 19116, page 5.
Szcludes amounte for public debt retlrcDont which are chargeable to
the sinking fund. etc.. under special proTlslons of lav, and beginning vith fiscal year 19't5. Includes OoTemment corporations
315
577
1.593
3.'*33
2.257
1.223
868
2.398
'1,298
23U
156
(wholly owned), etc. (net).
Comprlsee trtiet accounts, checking accounts of Oovemment agencies,
etc.. Increment on gold, seigniorage on sllTsr, miscellaneous funds
and accounts, and beginning with July, 19'l6. a clearing account for
outstanding checks. Incroaent on gold esludes expendlturee for
national bank note retlrenents.
U
..
.
.
8
U
S
U
»
5
Treasury Bulletin
12
Social Security Program: Section I.- Budgetary Receipts and Expenditures
Table 1.- Social Security Act
(
Is
allllou of dollara)
anoante credited
Tedsral 01d-A«e aa
>4i
Social Sscurlty taxst
Federal loBuranee
ContrlbutloDS Act
(Old-ag. Inaoranco:
Federal tJnen^loTiBeiit
tax Act
(UaoanpleTaaot laeuraace)
60I1.I1
igw
19111
19U2
I9!t3
19ltii
X9't5
l<)Ut
5lU.li
631.2
712.2
788.2
1,015.6
1.288.9
I.U72.O
193«
1939
530. ">
l.Uls.i
387.0
503.0
537.7
661.;
868.9
1,103.0
1,259.5
1,283.0
1,200.8
2l7.'t
51.6
It.l
5.t
13.1
3.6
29.5
196.2
15.1
16.6
110.3
16.9
56.9
265.1
2.8
690.6
895.6
1.130.5
1.292.1
1.309.9
1.238.2
l.''9't.5
6.9
15.0
5.3
5lt.l<
BoT«at)«r.
D«ceBb«r.
19'*6-J«nuary.
90.1
100.9
107.5
97.7
119.9
158.i
179.9
60I1.7
IS^-Octob.r...
TroBt fund
u
i/
237.8
6.9
7.7
K6.1
306.5
31.9
.
y«bruary.
March
JlfTU
32.8
199.5
63.
Jul/
August
60.
268.9
6.6
fe.3
28U.3
8.3
70.0
29'*. 3
S«ptflab«r.
13.3
107.0
13.6
18.
280.1
8.1
6U.6
H»»
_
•
9.5
72.2
23'>.9
61.3
128.2
n't.
126.9
lli6.7
185.9
212.5
211.5
217.
3.2
11.0
6.0
.ll
Oranti to State!
Social Seourlty AdolnletratiOQ
AdalnlatratlTe
erpe^ee.
Old-age
Aid to
aeelet- dependent
children
20.0
21.3
25.3
31-5
182.2
208.8
227.6
260.1
63.2
2991
69.lt
It98.l1
316.9
360.6
333-6
361.2
67.3
57.0
52.8
59.3
68. L32.
21.2
26.2
19U6-JBnuAr7...
February.
March
61.7
115.
Maternal
and child
health
3U.9
21.3
61.6
37.1
18.2
I
6/
Itl.O
April
Kay
UI.9
58.9
58.3
63.0
70.J
55-1
Public
health
Children'* Bureau
I17.lt
27.1
peneation
adninletration
Public
Heal th
Serrice
1938
1939
19I10
19U1
19U2
19*3
19W1
19*5
19U6
315
33-3
32.1
31-9
38.8
iqlt^-October...
KoTeaber.
U15.2
169.6
U91.I
188.0
I15I.9
26.3
Septeaber.
113.2
October.
66.9
111.9
Au^Bt
-ce:
*
1/
2/
_3/
U/
2/
.
3b.3
3I1.2
u
11.
10.7
10.9
10.7
55.6
3.1
112.2
28.6
9-9
63.1
33.7
33.7
July
8.5
10.3
10.0
10.3
9.lt
10.8
12.8
6.3
6.7
11.0
Dally Treasury Statemant.
Lees than $50 thousand.
Fbrmerly Title VIII of the Social Security Act.
Ponnorly Title II of the Social Security Act.
Includes aaountB equal
to (!q)proprlstloQe to fiallroad Dneapleyment Incoranee Adinlalfltratlon
Ttmd equivalent to amountt of taxes collected rlth respect to the
period from January 1936 to June 1939. Incluslre, from ea5)loyers subject to the Ballroad ^employaest Insurance Act (See Table 3 of Sectlon I).
Prior to Jaooary 1. I^^IO. figures represent aiBounts transferred to
the Old-Age Reserre Account,
froa January 1 to July 1, 19l»0 Transfers'' were Btade to the Federal Old-A^ and SurTlvors Insurance Trust
Sobseqoantly receipts have h*an deposited in the Oeneral l^md
Pond.
of the Treasury and "appropriated" directly to the ?ederal Old-Age
and SurrlTors Insurance Trust Fund. Aaounts shown as transfers reflect deductions made for relmbursoBant to the Oeoeral I^ind account
to cover adnlnl strati TO sxpecses, which are shown as eipendltures In
Section II, Table I.
Includes an adjustment of $3,579 thousand on account of OTerstatoaent
of reimbursements to Cxeneral fund In September.
Includes only expenditures from appropriations made specifically for
6.3
16.0
admlnlstratlTe expenses relating to the Social Secxirlty Act; namely.
Social Security Administration. Department of Commerce, and Department of Labor; and adnlnl strati re expanses reimbursed to the Q«neral
Fund of the Treasury under Section 201 (f) of the Social Security
Act, as aoandad.
Beginning Jxily 1, 19UQ, includes also administrative ei^anses under the Wagner-Peyser Act.
ffixcludes adndnlstratlvo
expenses payable from other appropriations, principally for the
following agencies:
Bureau of Internal Bevanue of the Treasury
Department, and Public Health Servlee and Office of Education of
the Federal Security Agency.
Beginning July 1. 19U5. paTments prevt^ualy made under the Social
Security Act were discontinued, and thereafter made under provisions of the Public Health Serrice Act of 19W1.
Includes expenditures under Social Security Act by the Depeurtnent of
Labor through July 3I. I9I16
Classified as "Sxecutlve Office, Office for Snergeney Hanagenent.
Var Manpower Coanlsslon" through July 3I. 19^Covered by appropriations by Congress.
Second Deficiency Appropriation Act, fiscal year 1938, appropriated
$Ul Billion for refunding to certain States portions of federal Hnployers' tax for 1936 collected under the Social Security Act.
It/
..
..
..
December 1946
13
Social Security Program
Section
I
-
-
(Continued)
Budgetary Receipts and Expenditures
-
(Continued)
Table 2.- Railroad Retirement Account
(In
illlon* of dollar*^
mlnlatratlT
axpanBOs
Carriers* Taxing
Act of 1937
19IK)
19U1
19142
11*8.5
7-6
11(0.9
21I1.8
.
BoTember.
Seoomber19l»6-Jainiaiy
.
.
220.2
265.3
311-3
295 -»
37.1^
-1.1
-7
2.3
-8.7
.21.6
•3
5-1
I9'i6
19lt5-0etoli«r.
truat account)
1U6.U
107-1
120.7
12U.U
1-5
8.5
58.5
19'»5
(
2.6
2.9
2.6
3.8
282.6
19't3
i9Mt
Trantftra to
Kallroad Ketlrsont Account
IU9.O
110.0
123-3
128.2
150.1
109.3
121.0
136.9
170.0
208.8
267.1
285.0
193*
1939
u
5.l»
2-5
11.
262.7
308.8
291.9
It
-1.8
26.3
12.8
37.0
35-7
-g.li
-58.8
37.0
32.3
38.0
37.7
-5.1
-6;.0
Febraazy.
March
6^:1
April
May
June
6i:i
1-3
JQI7
Septembar.
October.
.
Daily TreaBory Stateoant
Leee than $50 thousand.
Includes only eipendlture
2.3
7-6
75-5
165.5
2.1
Atiguet ....
Wt.3
165.2
163.8
-7.l»
-75.2
lA.O
kZ.l
admlnlstratlTa aapenses relating to the Railroad Betlrenent Act.
CoTered by appropriations fron the Oeneral Fund of the Treaenry.
from appropriations made Bpeelfically for
Act^
Table 3.- Railroad Unemployment Insurance
(In nilllons of dollare)
Rsoalpti
Izpondlturai
Bailroad unsaployaont iararanos
oontrlbutioDt
AdBlnlitratiTS sxpeniai (Railroad
UBsaploynont Insuranoo Adainiitration
2/
Fund) i/
193«
1939
-5
U.9
6.8
8.5
10.3
12.1
13.2
12.9
191*0
191*1
191*2
19'»3
191*1*
191*5
191*6
igUS-October.
BoTember.
December.
5.0
8.2
9
12.6
13.1
mail
af
•^•ndltwsa
a/
.5
5.0
3->'
11*.
Traatfori to Railroad UnemployBont
Iniuranoe Aooount,
Unesployasnt Trust
Fund U/
2-5
2.2
3-2
3-7
3-5
7.5
3-9
6.0
11.7
8.9
-2.1
2.7
-.6
9.S
.
191*6- JasoaiT.
Febmazy
3-2
.
.
March
.1
•3
.1
•3
•3
-3
.2
3-1
ifcy
June
-3
-2.7
July
Angast
Sapteober.
Ootober.
ve:
*
1/
2/
-2.9
3.1
April
.
Sally Treasury Statenent.
Less than $50 thouaaad.
Operated as Railroad UneB^loyment Xnsorance Administration Fund.
Represents 10^ of contributions under the Railroad Thempleyment
Insurance Act; the remaining 90^ ie deposited in the Railroad Ihemploynent Insurance Account, Uneoiployvent Trust Fund (See Section
II. Table 3).
Iicludes amounts appropriated to Railroad Uneaiployment Insurance Administration Fund equlTalent to amounts of taxes
collected for the period January 1936 through June 1939 from »»ployers subject to the Railroad Uneo^loyment Insurance Act. These
amounts aggregated $17.7 million and vere distributed by calendar
9.7
.5
9-7
-5
-3.3
3
I936, $2.7 million; 1937. $5-3 millloni 1938.
years, as follovsl
$6.8 million; and for the first six months of the calendar yaar
These amounts are included in Table I under
1939. $2*9 million.
Federal Tfaesployment Tax Ant (uneai)leynent insurance).
Includes only expenditures from appropriations made specifically
for adfflinistratiTe aipsnaee relating to the Railroad Ohenployment
Insurance Act.
Represents excess funds of the Railroad Tbe^loyment Insurance Administration Fund (under Act of Oct. 10, 191*0).
Covered by appropriations by Congress.
.
.
«
.
3
2
U
5
Treasury Bulletin
Ik-
Social Security Program
(Continued)
-
Section II - Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fundi/
(CuoulatlTe fron organization - In silllona of dollar*)
ftid of fiscal
yaar or nonth
Total
raealpta
1938
igiti
1.199.S
1.792.1
2,536-2
19U2
3.502.
191*3
19UII
U.7ao.7
6,116.0
7.5t9.8
8,935-8
19W)
ig"*?
19U6
19lt&. August
September.
October
.
Source:
*
1/
2/
.
Total
Appropriations ^7
Congress
9,282.5
9,300.0
9.370.0
a^enditores
Old-age
tanaflt
poymentB
Salaries,
Bureau of
administrative Old-e^e and
SuTTiTors
e:9enseB 2/
Inauranee 3/
Reimbursement
In dliburalnc
officer's
account
2lii.l
5-U
19.3
U7-5
138.6
275.6
1(19.
301.5
1*52.1*
5.7II.U
7.021-3
8.259.5
WA.7
669-6
5'»3-7
5.1tU6.1i
676.3
936.1*
1, 29 It. It
783-5
I.IOU.O
6,6l3.U
7.6U1.U
1.366.9
I.HO3.2
1.171-9
1.205-3
1.239-1
7.915.5
7.896.8
7.929.3
765.0
1,155.0
1,705.0
2.393-1
3.288.8
it,
8, 606.
8,6llt.5
8,68U.5
17.7
iat.6
87.1
lUvi
676.3
685.5
685.6
1.1*1*0.7
777.2
I.I8O.3
S-l*
19.3
35-1
99.5
209.8
359-1
Dally Treasury Statement.
Less than $50 thousand.
Includes transactions effected under the predecessor Old-A^e Beserre
Account
Under Section 201 (f) of the Social Security Act saeBdmente of 1939.
I.7W-7
12.3
39-1
65.9
2.397-6
3,227-2
U, 268.3
93-1*
7-1
^
662.3
1.177.2
1,738.1
2,380.6
3.201.6
u, 236.8
10.8
20.
2U.S
21.11
5.1*08.9
6, 5116.3
7,5l'«.7
7,5''8.7
7.838.7
7,828.7
?5.l
31i».0
m
Dnder provisions of the Labor-Vtoderal Security Act, 191*7, salaries for the Bureau of Old-A^ and Surrlvore Insurance are payahle directly from the Federal Old-A^ and SurrlTore Insuranca
Trust fani.
Table 2.- Railroad Retirement Account
(CumulatlTo from organization - In millions of dollars)
1938
1939
Tteejpended balance
Benefit
payments
Total
recelpta
68.1
82.7
92.1
87.0
l.ll
79-8
I85.6
298.7
85U.2
1.116.9
3.6
5.9
8.U
11.6
17.3
27.2
1,1*68.1
1.1*25-7
lt2.U
676.6
811.0
952-5
1.780.1
1.717.8
62.3
l.lOlt.It
I9U.9
333-0
515-6
675-7
2.078. It
2,016.1
2,016.1
2, 016.1
62.1*
1.133.6
1.1*7-1
1,160.8
931-*
917.8
11*7 -9
191A
268 .U
390-8
506.9
650.9
871-5
l.lMi.l
191*5
191)0
19U1
19U2
191*3
191*6
19ll6-August
September.
October
.
.
2.078.5
2,078.7
11*6.
26U.S
38U.9
^98.5
639.1*
62.5
62.6
1*19.9
51*6-1
101*.
8
66.2
December 1946
15
Cash Income and Outgo of the Treasury
Table
1.-
Cash Income and Outgo, by Major Claselflcatlonsl/
(In Blllione of dollars)
Treasury Bulletin
i6
GENERAL
FUND
OF
THE
TREASURY
. •
. . .
.
6
.
December 1946
17
Assets of the General Fund of the Treasury
(In mllllone of dollars)
End of flBcal
year or month
Bullion, coin,
and currency
2.709
1937
193«
1939
2M9
3.087
2.038
2.812
19I10
iqui
igte
I9hj
191A
19U5
19M6
Deposits
Federal Be
Banks
1.863
827
1.19U
87U
603
1.038
n5
1,W2
537
523
527
1,12U
1.372
25.851
U90
U99
U6l»
1,011
1.209
2, 160
UlU
U07
UoU
1.12U
1.230
1.006
12.1A1*
ll,'t31
itou
10,52U
November.
December.
igMfi-January
February
March
.
-
U29
702
872
I.UU5
26.U11*
2lt.7U3
.
April
Hay
21.293
18.859
lli,70g
July
Au^st
.
September
October.
Source:
1.671*
i»l6
265
533
507
289
305
12.69U
2U,0lA
275
II13
260
2U,030
2l».Uli7
320
259
21.776
31*3
19.502
16,9119
253
273
12.993
305
10,961
377
301
273
9.8112
8.377
6.936
.
Ifelly
1.679
7.667
18,007
22.622
12.993
1,02U
13.307
lU.sug
26.520
..
55
52
95
105
25I1
1,500
1.006
19li5-Octol>er.
6U9
611
776
805
661
li»l
929
1,022
3.W.3
IO.IU9
20.
Special depoGlte
account of sales
of Government
securities
Treasury Statement-
Balance In the General Fund of the Treasury
(In millions of dollars)
ISnd sf fiscal
year or month
2,709
1937
1938
1939
19MO
2,1»19
191*1
3.087
2.038
2.812
19112
156
203
2ll8
3.1*1*3
10.IU9
20.775
25.119
191*3
191*1*
191*5
19I46
179
1.891
2.633
607
2.991
9.507
20.169
11*7
698
lU.238
21*.
lli,708
U9l*
191*5-October.
Bovember
lit,8U9
December.
26.520
12,813
UOU
517
li»,Ul*5
usu
U53
576
25,U27
25,961
20.935
18,536
lU,23g
February.
25.851
26. UlU
March
2l*,7U3
April
May
June
21.293
18,859
lU,708
359
323
July
August.
September
12,UU1»
U15
391
353
I9I16- January.
.
October.
Daily Treasury 3tat«aent
II.U31
10,52U
1*70
26,003
2it,367
12.029
ll.OllO
10,171
)
.
Treasury Bulletin
18
Analysis of Change In Balance of General Fund of the Treasury
BllllonB of dollar! - let inorsaa* or not dooraaao (-)j
|_In
Total
ehao^
In
Sonaral
fund
balanca
Oonoral and
opeclal
aooountf and
iglio
-12«
-338
622
-9U7
19U1
7't2
igus
igH?
6.515
10.662
19Uii
19115- October...
VoTOaber.
DecoBber.
i/
(net) 1/
-3.1'»9 2/
-l.3gU
-3.5't2
-3.611
-5.103
-19.598
-55.897
-''9.595
-io'Mo
19115
19'46
Increoent
on goll
corporation*,
(wholly owned),
etc.
1937
1933
1939
Traat accounts, ato.
Ooromaant
-53.9U1
-20,676
-3.}«l
1,632
11.558
-3.165
-2.208
-895
2.7U6 8/
792 8/
3.280 i/
2.528
5.99l»
23,U6i
-3.506
-l.g6l
-U.OSl
6i».27i*
6U.307
57.679
791
"•7
315
-319
-307
-36
-295
April
-3.'>33
•I«T
-2.598
Jane
->).298
-1.591
-1.131
-873
-2,11*
-1.316
-3.161
-265
-1.105
-1.152
-72*
-2.177
U«
23»
-klH
,
-2.209
-9«9
-til
-1*99
1.723
October...
Dally Treasury Stateaent.
Beginning with fiscal year 19*5 certain rerlsloas hare been aade
In this table.
See Treasury Bolletin,* Septeaber 19*6, pa<e 5.
Less than $500 thousand.
This Is the net budgetary deficit (•) er surplus. Xxclndes aaounts
for public dsbt retlreaeat which are ehargeable to the siaklac fund,
stc.
under special prerisloas of lav and beclnaiac with fisoal year
19*5 includes OoTsraaent eorperations (wholly owned) etc. (net).
Coaprlses federal Old-A^ and SurrlTors Insurance Trust fund,
National Serrlee Life Insurance Tund, thieaployvent Trust fund. Railroad Retlreaent Account, Ooreraaent insurancs and rstirsaent funds
(See footnote *.
and other trust accounts.
Charges for retlreaent of national bank notes are reflected in this
stateaent directly against ittcreaent on sold, in the years during
which the rstireaente were actually Bade.
(See footnote 8.)
CoBprlees Public Works Adaiaistration rerolTia^ fund, special de,
-3.625
-2,19*
-*,*03
-1.553
-95
318
-228
-829
20*
1.669
-6*7
1*9
3. 52'*
327
-3.201
Septeaber.
66
675
-30
12,773
1.902
lo^rust
agencies,
ato. 5/
76g
92
lltg
-52l«
-1.0l>2
July
Oovemment
-218
IO.7I1O
-577
2143
Cheeking
account of
31*
20*
.\^
-1.593
Febrvar7.
and miscellaneous
fnnda U/
-99
-51
-5
March
19>t6-Janiiar7...
Special
deposit
aecotint
»?
-167
-138
-22*
153
-190
-37
-17*
9*
156
^
6/
7/
8/
posits (set), and, duria« the fiscal years 19*0 throueh 19*5,
traasactloas la coBBOdlty food staaps by the Departaeat of Agricultur*.
OoBBeacinc July 1. 19*5. such transactions are elassif Isd la
the ooluan 'Trust aceeuats*.
Besianiac with fiscal year 19*5 repreoests salss and redeaptioas of
bbllfatiOBS ef Oovernaeat corporations, etc., in the aarket (aet).
lapreeeats eutetandin^ checks, see Bote.
Ucl^ss laaetlTo gold In tha aaeunt of $1,087 Blllioa.
Bxpenditurae for the retlreaent of national bank notee froa increaent on gold for the fiscal years 1937 to 1939 (as shown bslow) are
not reflected herein, but are reflected under increaent on gold as
followsi
1937, $99 allllon: 1938. $51 aillion; and 1939. »5 nillion.
The iacreases in the public debt shown in the table 'Means
of rinanolng Cash Bequlreaents' for the abore fiscal years will not
agree for the reason stated abore.
December 1946
PUBLIC
OF
19
DEBT AND GUARANTEED OBLIGATIONS
THE UNITED STATES GOVERNMENT
Treasury Bulletin
Detailed Statement of the Public Debt and Guaranteed Obi Igat lone
of the United States Government
PART A
(In
FISCAL YEARS, I937-1946
mllUoM
at tellart)
December 1946
Detailed Statement of the Public Debt and Guaranteed Obligations
of the United States Government - (Continued)
PART B
-
MONTHLY DATA
(In alllloni at dtllu-a)
Treasury Bulletin
INTEREST- BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS
OF THE UNITED STATES GOVERNMENT
1937
.
.
December 1946
23
Special Issues to United States Government Agencies and Trust Funds
^
(In mllllo&a of dollare)
Federal
Deposit
Insurance
Corporatioi
Outstandlne at and of
fiscal year or nonth
191IO
19U1
19't6
7.885
10.871
lU,287
18.812
22.332
1911^-October.
Uoveisber.
Dftcecber.
20.577
20.710
20,000
19U6-Januar7.
February.
March
191(2
19''3
19Ufc
Federal
SaTl Qge
OoTemnent
and Loan
Retireaent
Funds
500
523
537
52U
531
5
't.766
106
27
316
396
573
559
656
796
1.076
SystM
39
352
l.'t69
1.213
3.187
68>>
1,868
2.177
5,'*l6
605
2,16c
2,163
2.166
20.655
20.897
21.135
5. "toe
606
606
612
5.308
5.910
152
152
Postal
SarlngB
5.581
5.566
2.lUg
1,267
1.710
2.273
56
199
268
lt6li
669
U56
6UU
506
530
592
668
655
6U2
6.7''8
6.7't8
608
628
667
6.588
6.673
6.699
3,802
3,850
l»,lt50
2.089
2.090
2.177
>'.935
5.910
5.910
6,200
2,ltOl*
September
2.399
2,388
5.330
5.520
5.570
October.
6.190
Source:
1/
5.100
5,2'tO
816
870
65"
657
6.699
6.668
6,6in
6.78U
6.779
6.75''
Dally Treasury Statement.
These securities are Included In the detailed atatameat of the
public debt on pages 20 and 21.
Includes Canal Zone, Postal Savings System.
Includes Adjusted Service Certificate Fund, Mutual Mortgage In
ance Fund, and War Housing Insurance Fund.
Guaranteed Obligations Held by the Treasury
(In ailllons of dollars)
Znd of fiscal
year or month
6.923
6.988
6.798
698
728
5.581
5.581
5.910
23,0lt5
6.7lt7
3.7'»2
>l,680
July
5.610
501
657
782
"•.785
5.586
3.11''
't.257
319
5.2''0
2.106
21.Ugl
22,332
Other
312
872
a.iui*
April
H«»
Ballroad TTneaployaent
Rett resent
Trust
Fund
Account
3
537
538
502
589
21.22'*
19lt>i
national
Serrlce
Life
2/.
267
662
1.177
1.738
2.381
1.558
2.676
3.770
4.775
6.120
1937
19J8
1939
Federal
Old- Age
SurrlTora
Insurance
Trust Fund
^
)
.
.
Treasury Bulletin
2»^
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed
Obligations of the United States Government
(AmoTintfl In
mllliona of dollars)
Public dabt and guaranteed obligations
Computed
Counted
Interest-bearing
annual
debt outstanding
Interest
charge
wnnnal rate
of Interest
(Percent)
Public debt 1/
(In millions of dollars)
1937
193«
It0.1t65
1,01(7
1*1,1(28
19»
1*5.336
igito
l*7,«7lt
igiti
5'».7lt7
1,068
l.lU?
1.203
1.335
19U2
76.517
19'»3
19lt«
139.IJ72
Conputed
anmial rata
of Interest
(Percent)
IntereBt-bearl ng
debt outstanding
2. Silt
35.S00
36,576
39.886
fe.376
1(8. 3«7
19lt6
I9lt5-October..
NoTember.
December.
19't6- January..
U.665
2.633
91*7
i*.g53
2.1*91
5.550
2.052
1.97*
i.ns
i.Sih
2.679
259.980
263.386
276.2U6
5.052
5.133
1.91(3
1.91(9
5.1(2U
1.963
5.'»72
1.968
1.970
1-978
277.1*56
5.1*65
277.912
5.1*79
5.1*38
278.001
2T8.U51
275.290
April
May
June
273.2UU
271.983
268.578
July
August.
September
267.363
266.729
October.
5.W7
5.*5
Source:
1/
26U. 608
256.357
268. lU
5.351
259. I'M
262.81(9
275.691*
5.0U5
5.126
7U8
5.1*16
2-583
2.518
2.285
1.979
1.929
1.936
1.996
l.<3>>
l*.5l*9
1*,092
1.^6
1.161
1.9ft
1.335
5o9
i.ja
1*67
i.5io
1.91*5
5"!
1.291*
1-950
1.965
536
553
1.322
1-338
1.970
1.972
1-979
5U5
5.'»30
5.1(2U
1-987
272.711
l.99i(
271,1*1(0
5.1*23
5.1*17
5.357
1-995
268.111
5.351
5.368
5.371
5.358
2.008
267.039
266.359
26U,217
5.363
5.366
5.353
2.008
2.015
2.026
262.1*15
5.31*3
539
1-989
1.996
1-996
1^359
1-353
2.036
262, 792
.
199.51*3
271*.
of interest
(Persent
1.037
1.095
5.969
5.357
February.
March
anjiual rate
92U
2.260
1.978
1.925
1-935
1.995
71.96s
135.380
Coq^ted
Interest-bearing
debt outstanding
(In millions of dollars)
(In millions of dollars)
2.588
2-57?
2-535
201.059
256.766
268, 57«
13^5
l}uarantead obligations 2/
2.011(
2-025
Dally Traasuxy Statement.
Treasury bills are Included In InUrest-bsarlng dabt flgurss at faca
amount, but for purposes of calculating the computed annual Interest
charge and the computed rate of Interest, the discount Talus Is used.
Tor the purposss of computing the """..fT Interest charge and rate of
2/
I.35I1
1.358
1.5lO
321*
I.6I8
370
391
1-573
Interest on United States sarlngs bonds. Series A-l are oeasl dared
to ylsld 2.90)( per annua and Series f Is considered to yield 2-53^
Ouaranteed securities held by the Treasury, and securities gvitrsateed as to Interest only, are not Included In this table.
1
December 1946
25
Statutory Limitation on the Public Debt
Section 21 of the Second Liberty Bond Act, as
amended, provides that the face amount of obligations
Issued under authority of that Act, and the face amount
of obligations guaranteed as to principal and Interest
by the United States (except guaranteed obligations
shall not exheld by the Secretary of the Treasury)
ceed
aggregate J275 billion outstanding at any
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 llraltatlon at current redemption values,
In
the
one time.
,
Table 1.- Condition as of October 31, 1946
Cb
NaxlBUB aBount of ••eurltlat which
of the Secosd Llhertjr Sond Act,
aajr
u
llllosa of dollari)
h« outitandlng at any oao tlao, und«r limltstlona Imposed by Section 21
273,000
aaended
Aaount of eecurltiee outetendlag luhject to euch etatutoxy deht
U. S. OoTaniBant ecurltl'ke leeued under the
Hal tatlon
1/
262.^9
Second Libert/ Bond let, ae aaended
Quarantaad ••eurttlaa 2/
3*6
Total mount of eecurltiee outstanding eubject to etstutorjr debt
Hal tatlon
262,975
12,023
Balance leeuable under euch authority
Source:
1/
Public Debt Service.
Ibr coaparlson with the total public debt and guaranteed eeeurltles
2/
outitandlog, see follovln; table 2.
Ixeludea guaranteed securities held by the treaeury.
Table 2.- Analysis of U. S. Government Securities Outstanding Subject to Statutory Debt Limitation
and Comparison with the Public Debt Outstanding, October 31, 1946
(In Billions of dollars)
Public debt and guaranteed obligations outstanding
Subject to
statutory debt
Hal tatlon
Public debt and guaranteed obligations outstanding:
Public debt:
Interest-bearing securities:
Marketable issues:
Treasury bills
Certificates of indebtedness
Treasury notes
Treasury bonds - bank restricted l/.
Treasury bonds - bank eligible
Postal savings and other bonda
Bot covered by
statutory debt
lialtatlon
16,987
16.987
32,lt7g
13.351
U9,636
69,686
179
182.139
182,318
^9,621*
U9,62>t
6,003
383
Total marketable issues
Bon-marketable issues:
U. S. savings bonds (current redemption valu«).
Treasury savings notes
Depositary bonds
Armed forces leave bonds
32, '•78
13.351
U9.636
69,6s6
6.003
383
70
70_
56,081
56,081
Total non-marketable issues
2U,015
Special Issues to Oovemment agencies and trust funds
262,1*15
262,236
Total interest-bearing securities
236
Matured securities on which interest has ceased
Obligations bearing no interest:
Onited States savings stamps...
Kxcess profits tax refund bonds
Currency Items, etc. 2/
83
35
758
876
Total obligatioos bearing no in
263.532
Total public debt
Guaranteed securities ^:
Interest-bearing securities
Matured debt
262,975
Total public dsbt and guaranteed securities outstanding.
Source:
1/
2/
Public Debt Service.
Issues which commercial banks may not acquire prior to a specified
See footnote 2. page 21.
date (with minor exceptions).
Consists of United States notes (loss gold reserve); deposits for
386
386
Total guaranteed securities
^/
9'*3
263,918
Bank notes; and
retirement of national bank and Federal Base
other obligations bearing no interest.
Excludes guaranteed securities held by the Treasury.
.
.
.
.
c
.
.
.
b
7
Treasury Bulletin
26
Analysis of Issuance and Retirement of Public Debt
(In mlllloas of dollara)
Pobllc debt receipts
(leeuance of public debt)
Bet chan^
In publi
debt
Btandlnc
Public
Public debt expenditures
(Betlrement of public debt)
dett ont-
end of
fiscal
during
fiscal
Cash
1/
1937
1938
1939
36.i»25
19I10
1)2,962
>t8,96l
37.165
ItO.UM
19IH
2, 61(6
7ltO
3.275
2.528
5.99^
19'»5
72.U22
136,696
201,003
258, 6g2
57.679
19^6
269,l«22
10,71*0
19lt2
19lt3
191*
55,1*61
W,27l*
611,307
I9U5 -October...
HoTenber.
December
261,817
278.115
3.52^
12.773
ISkS-J aioiaxy
FebniaX7
March
278,887
279, 2IU
276.012
772
327
-3.201
273.898
272.583
-2. Ill*
KV
June
269,1(22
-1.316
-3,161
July
Aogost
September
268.270
-1.152
October.
9.589
9.621
Adjusted
service
bonds
6.199
U.776
13. 081*
Certificates of
Indebtedness,
special
series 2/
7.1*75
7.19I'
13.166
17.8U7
Armed
forces
leaTe
bonds
Ixchan£et
Cash
.
.
April
special
series 2/
1.751
13
7
1.1*99
6.91*3
1*.625
1.751
567
2.671*
11*1
2.159
2.567
8.881
9. 809
10,638
11.853
5.166
5.301
5,680
5.8I6
2.671*
1,01*1
3.035
2.812
1.1*73
3.035
2,812
10,1*62
ce:
*
1/
3.11(2
2.1U6
2,896
17, ?U
l.!*l*2
U.iil
5.332
U91
18.790
31*, 183
31.036
12,71*1*
3.11*2
37.161* 30,388
122,632 9"*. 961
153.785 123.958
179.159 129.663
150.988 103,116
1»91
13U
I*
89I*
i*8i*
U!2l*i
l,Ul*2
303
17.911
5.876
8.318
lO.Ull
13.703 8.693
58.358 33.67I*
89.1*78 63.202
ll*,l*10
121,1*80 77.1*08
16.263
11*0.21*8
95.985
161
180
91
10,118
7.6U3
13.876
6.575
7.596
8.8I5
761
273
372
12.166
11.27
8,728
6,288
9.578
1*,95U
8,1(85
2,820
8,968
185 10.079
2.775
18,790
31*. 183
31.036
303
-72I*
265.369
-2.177
6,308
10,969
22,300
3.1*1*1
26.61*8
12.938
11,600
9.9*3
8.85U
6.376
6.138
3.332
9.309
7.66q
6,283
7,395
6,067
2,820
207
a, 021*
2.775
12.182
10,062
9,019
8.818
6,371
2.916
1.223
11,2X1*
8,236
7.371*
6,021*
1*22
9.71*3
8,1*96
U55
10,995
8,610
9.885
2,31*1
10,862
6.99I*
2.916
1.223
2.31*1
232
267.51*6
.
edneefl,
1/
263.532
265,3112
.
Certificates of
Indett-
Special
profits
ax refund
bonds
9,351
9.915
11,168
3.777
U.95I*
3.133
271*
776
11,1*23
3,11'n
3.777
3.332
3.133
8,98b
2"*,
103
U7
800
107
31
133
17
11.331
Consists of special series of certificates of indebtednes
sued directly and solely to Federal Reserre Banks.
Bail/ Treasury Statement.
Less than $500 thousand.
Excludes certificates of Indebtednes
Composition of the Interest-Bearing Public Debt
Percent of interest-bearing public debt
Public issues
&d
Public Issues
of fiscal
year or month
35.800
36,576
39.886
191*1
20.131*
22.01*3
25,l*lU
1*2.376
1*8,387
1937
1938
1939
19UO
26.751
30.UII
1.188
1.556
2.151
3.166
lt.555
10,617
1,151*
7.21*3
1.308
1.302
1.603
6.383
5.698
1*7,296
1*7.970
1*8.679
23.1*98
23,1*98
277.1*56
ia.538
1*9,061
277.912
121.811*
271*. 71*8
121.357
19.551
19.551
18,261
272.711
121.357
121.357
119.502
l(9.26l(
1*9.1*62
18. 261
18. 261
18. 261
7.
268,111
September.
267.039
266,359
29*. 217
119.502
119.502
119.502
1*9.730
1*9.878
1*9,930
13.351
13.351
13.351
6,669
6,688
6,096
October.
262,1*15
6,003
19l*6-Jainier7
Tebroajy
March
.
.
April
May
271.1*1*0
July
Au^st
Source:
.
.
Daily Treasury Statement.
1*9.31*5
17-7
17.6
17.9
2.9
3.0
2-7
15.0
15.0
lb.
7.5
7-5
7.7
17.032
17.0U7
109.566
120.619
22,967
b3.8
b3.8
bb.2
17.0l»2
U13
1*0,399
107.21*1*
.
100.0
100.0
1*1,502
1*1.
259.1*39
262,81*9
275.69'*
.
I>scember.
7.9
7.9
7.3
7.365
18.261
Hovember.
13-5
13.3
13.8
8,01*3
1*9.1*62
19l*5-October
3.b
3.b
3.0
8.107
1*6,090
9.557
10,136
6.711
19U6
18.2
18.2
17.6
20.577
20,710
20,000
256.357
268.111
17.1*05
23.1*97
191*5
bi.3
bl.7
b3.8
17.026
17,026
17.037
35.298
7.1*95
8.776
9.058
8.235
3.096
16,561
28,822
3U.I36
2,508
11,861*
ll*.73U
9-5
7-3
8.3
35.021
35.021
38.155
6,689
9.168
79.1*1*0
106,6Wi
119.502
7.5
9.b
b.3
7.3
29.7
25.0
18.2
15.1
11.8
18.
31*. 801*
100.0
100.0
100.0
100.0
100.0
10.1*96
21.701*
199.51*3
3.3
b.3
5-b
12.2
ib.b
13-3
13.0
10.871
lb. 287
18.812
22.332
38.281
57.716
191*1*
56.2
60.3
63.7
63.1
62.8
b.2
5-5
b.8
b.o
2.5
17.0U1
17.039
71.968
135.380
3.015
19U3
191*2
100.0
100.0
100.0
100.0
100.0
2.303
9.11*7
lb. 6
1*1.6
16.0
17.7
18.0
bb.6
100.0
100.0
100.0
20,655
20,897
21,135
100.
1'*'*
38.1*08
17.05b
7.127
6.711
36.828
17. obi
17.039
21,22b
21.b81
22,332
100.0
100.0
100.0
bb.5
bb.7
bb.6
18.1
18.2
3l*,80l(
18.
2.6
2.6
2-5
ib.i
13.6
13.0
7.8
7-9
8.3
37.720
36.1*73
3l*,U78
17.023
17.02b
17.007
23.ob5
23.bb3
23.856
100.0
100.0
100.0
bb.8
bb.9
b5.2
18.6
18.7
19.0
2.5
2-5
2-3
ib.i
13.7
13.0
8.6
8.8
9.0
32,1*78
16.987
2b, 015
t5.5
.
.
.
.
December 1946
27
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States i/
As of October 31, 1946
(In millions of dollars)
Anount of maturities
Description of security 2/
nied-
Callalile Issues
classified by year of:
naturlty
issues
rinal
maturity
19l)6-HoT
5.21*0
Il/l/lt6.
Treasury bills..
7/«)f
Certlflcat
l-l/zt TreaBury a
3-778
12/1/U6.
12/15/U6.
5.223
3.768
3.261
21.269
Treasury bills
Conversion bond
Vft
Certificate
Sf,
6.525
I/I/U7....
1/1/U7....
13
3.330
i*.95i*
ejt
Mar.
Certificate
2/1/U7....
si
Certificate
3/l/'*7....
3/15/1*7....
l!9MI
Apr.
85S
Certificate
U/I/U7....
2,820
June
sf,
Certificate
6/1/U7....
2.775
jTlly
g)i
Certificate
7/l/'*7.-..
2,916
Aug.
8*
Certificate
8/l/lt7....
1,223
9/1/1*7 ..
2,31*1
9/15/'*7..-.
9/15/'t7-.-.
2,707
1,687
l/Uit Treasury note
Sept
Certificate
l/25t Treasury note
-l/kf> Treasury note
B)t
10/15/U7-52-
l/Si
Treasury bond
Certificate
2^
Treasury bond
12/ 15/1*7 ...-
l4-l/UJt
10/1/1*7....
Total
1,I*1|0
38.511*
2-3/1*!'
Treasury bond
Treasury bond
3/15/1*8-50
3/15/1*8-51.
June.
1-3/1*)'
Treasury bond
6/15/1*8....
Sept.
2-l/2)t Treasury bond
19l4g-Har.
25^
1-1/2% Treasury note
256
Treasury bond
9/15/I18....
1,115
1,223
3,062
"51
3,71*8
9/15/1*8.-
12/15/U8-50.
7.261
Total.
19U9-June.
25t
Treasury bond
•
1,011*
Sept.
2^
Treasury bond
9/15/ll9-51
1,292
Treasury bond
3-l/8lt Treasury bond
2-l/2!6 Treasury bond
12/15/1*9-5112/15/1*9-5212/15/1*9-53-
2,098
2)6
6/15/1*9-51
1*91
1,786
Total
1950-Max.
Treasury bond
Treasury bond
3/15/1*8-50.
2-1/ 2)t Treasury bond
2?t
25{
Sept.
3/15/50-52.
2^
Sec.
Treasury bond
9/15/50-52.
9/15/50-52.
2)(
Treasury bond
12/15/1*8-50.
1-1/ 2it Treasury bond
12/15/50....
2.635
2.635
Tax
status J/
Zarllest date
on vhlch OODmerclal banks
may own bank
restricted
Issues U/
2«
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States iJ
As of October 31, 1046 - (Continued)
(In oilllons of dollart)
Treasury Bulletin
December 1946
29
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States U
As of October 31, 1946 - (Continued)
(In Dillione of dollars)
leor
and
month
30
Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Treasury Bulletin
.
December 1946
31
Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States
Disposition
offers
Ibta of
refunding
for emhan^
tranaaotlon, o:
of retlTeraont
for oash
transaction
S/l/UU
g/l/Ul*
Treas. note Ireaa. note -
lit
18/2/43)
9/1/141*
7/S*
3/l*)(
9/15/"*
Cadi
retlre-
(Sate of laeue Is shovn In parentheses}
7/^
9/lM
by Treasury
Oegorlptlon of eallad or natorlng
8«ourlt7 1/
(9/15/1*3)
9/15/1*1*
(l/3l/l*l)
9/15/1*1*
(12/22/39)
Totals for eictianfe transaction of
Certificate-
lO/l/l*!*
Certificate
-
12/1/1*1*
Treas. tond
-
Certificate
1-1/g* COO note
-
lO/l/Uit
7/g5t
12/1/"*
'.
7/g)t
-
9/15/1*1*
•
(10/15/1*3)
(12/1/1*3)
12/l5/l*l*-5l*
(12/15/21*)
(2/l/Ul*)
2/1/1*5
2/15/1*5
(7/a/l*l)
Totals for exchange transaction of 2/1/1*5905S
3/1/U5
Treaa. note Treas note Trees note -
'U)S
3/1/1*5
(2/1/1*1*)
.
3/lHf
I
3/15/1^
(S/lS/^)
.
3/15/1*5
(9/25/1*2)
Totals for exchange transaction of 3/1/1*5-
••
!
Oertlflcate -
l*/l/l*5
;
Certificate-
5/1/1*5
(5/1/1*1*)
Oertlflcate 1-l/a^ HOLO hond
6/I/U5
(6/26/1*1*)
V1/U5
t/Sli
6/1/1*5
I
('*/l/l*l*)
(6/1/39)
6/1/1*5-1*7
Totals for exchange transaction of 6/1/1*^...
8/1/U5
9/U^
Certificate -
7/S?S
[
{
2-3/1*
Oertlflcate Treaa- -bond -
(S/l/W
8/1/1*5
(9/1/Hl*)
,,
9/1/1*5
,,-, ,
9/15/l*5-l*7
,
(9/16/35)
Totals for exchange transaction of ^jlf^
10/1/U5
7/git
Certificate-
7/g)6
3/Uj!
Certificate-
12/1/U5
Treas
.
2-1/2SS Treas-
10/1/1*5
\zlll'^
note - 12/15/1*5
bond - 12/15A5
-
.
-
-
.(lO/l/Ul*)
(12/1/1*1*)
(12/18/1*0)
(12/15/37)
Totals for exchange transaction of 12/1/1*5--
l/Vfi
3^
1/1/U6
2/1/U6
.90!(
7/8)t
3/l/'»6
7/8*
3/15/W
i»/l/"t6
5/1/U6
6/1/U6
e/is/itsl
7/1/1.6
8/1/U6
10/1/It6
11/1/U6
1Z/1/U6
12/15/It6
Conversion
bond
Treas. note
Oertlflcate
'
&Dhangi
security
offered
Sesolts of
witihenge offers
Dssorlptlon of new
security offered
Treasury Bulletin
32
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(Amount! In allllons of dollars)
DatoriptlOD of b«« !•«•
Huabor of
dayi to
aturlty
19't5-Oct.
h.
Oct.
Oct.
Oct.
18.
25.
XOT.
1.
11.
19U6-Jan.
Jan.
Jan.
Mar.
Mar.
Mar.
Mar.
I9U6-JU.
Apr.
Apr.
Apr.
Apr.
Jan.
May
Aaount of
aaturlnc
ABOont of bids
toadered
tildt
2.1591
ABOont oa
ooapttltlT*
bsali
31.
t7.l
5U-9
53-6
59-0
l,30it.9
1.3I8.2
1.316.7
1.316.7
1.302.1
1.316.0
1.267.0
1.261.6
1.273-8
513
55-1
1.317-0
1.3I8.7
lt2.9
1.3111-5
1.2lt2.1
60.0
1.269.8
>t6-2
1,310.6
1.309.0
l.25't.7
1.2lt6.2
lt8-8
2, 038. It
1.303.5
1.301.8
1,316.5
1,30U.U
2.905.0
2.259-5
2.005.3
2.016.3
2.025.2
1.302.9
1,316.1
1.312.1
1.316.9
1.315-9
l,26"t.lt
1,31"*. 8
1.309-0
1.301-3
1.316.7
1,268.1
1.257-5
1,253-1
1, 275-1
2.015.0
2.08U.6
2.07U.8
1.3090
1.261.2
1.303.8
1.315-3
1.2lt9-2
5lt.6
U9.8
1.303-5
1.301.8
1.316.5
1.9811.
1.313. it
1.265-5
1,268.6
ltll.8
1. 30it.it
1,863.6
2,050.1
1.989.7
1.902.1
1.312.0
1.317-1
1.310-3
1.315-3
1,277.7
1,272.7
1.263.1
1.272.8
1.309-2
I.308.2
1.301.3
1.313-7
1.312.5
1.265.5
1,265.8
1.260.5
7.
2,210.5
2.076.8
lU.
1.9't0.7
2.178.5
2.15U.7
7.
2.163.0
2.O85.U
2.030.9
lU.
21.
28.
U.
11.
18.
25.
2.
Juno
Juna
Juna
Juna
Apr.
Apr.
Apr.
Apr.
July
July
July
July
May
May
May
May
May
Aug.
Aug.
Aug.
Aug.
Aug.
29-
1,850.1
1,961.0
1,900.9
1.927-6
1,951-2
Jon*
June
Juna
Juna
Sept.
5.
Sapt. 12.
Sapt. 19.
Sapt. 26.
1,922.8
1.990.7
1.950.6
1.85U.8
1.312-9
1.310-1
Oct.
Note:
13
20.
27.
5.
11.
18.
2$.
1522.
3.
11.
18.
25.
Oct.
lOT.
Hot.
lOT.
Rot.
29.
12.
19.
26.
Ooc.
Deo.
Dec.
Dec.
26.
19l»7-J»n.
2.
Jan.
Jan.
Jan.
Jan.
9.
16.
1.
8.
15.
22.
29.
Sept.
S«pt.
Sapt.
Sept.
ouree:
6.
3.
Aac.
lag.
An*.
Aug.
kag.
Oct.
Oct.
Oct.
5.
5.
of dAte
howu In
Irot coluan
1/
1.263.3
1.256.1
1.256.1
1.251.1
Mar.
Mar.
Mar.
Mar.
July
July
July
July
b»lt
1.310.5
1.311.0
1.309-6
1.310.0
2.157.5
2,OU8.0
2,08U.7
21.
28.
Nay
May
Hay
May
20.
ABOOnt OD
find-prloi
1,928.2
1.987.8
2.037.3
2.006.1
2U.
Jan.
»ab.
Fab.
Fab.
Fab.
Aaount of
3.
12.
19.
23.
30.
1.262.1
1.265.0
1.253.6
1.250.9
1,256.9
1,262.1
1.310.6
1.305-5
1.312-1
39.3
1.306.1
1,302.0
1,306.7
1,300.6
38.5
62.5
61.2
60.0
53-7
1,310-5
1,311.0
1.309-6
1,310-0
1.318-2
U6-7
51-5
1.316-7
1.316.7
1.302.1
1.316.0
55-6
5U.I1
ItS.l
U1.6
U7.8
Hi
U7.2
U2.5
"3-7
ll2-5
110.9
1.302.9
1.316.1
1.312.1
1,316.9
1.315-9
l,3lU-8
1.309-0
1.301.3
1.316.7
l.27't-3
39-
1.288-0
2U.5
1.277-2
1,272.2
1.273-5
1.272- It
35.7
38.0
36.8
33-5
1.309.0
1.303-8
1.315-3
1.305.9
I.8O3.5
1,892.0
1.895.0
1.767.8
1.307.7
1.315.1
1,310.6
1.305.1
1,278-1
1,278.1
1,270.2
1,269.8
29.7
37.0
35-3
1,312-0
1.317.1
1.310.3
1.315-3
1.796-3
1.82U-0
1,816-5
1,803-9
1,80U,8
1.306.1
1.272.2
1.279-8
1.275-6
1.272-3
I.27U.5
33-9
35-5
38.2
36.0
27-7
1.309-2
1,308-2
1.301-3
1.313-7
1.312.5
1.812.
1.309-0
1.305-3
28-0
1.303.''
1,281.0
1.270.7
1,270-2
1.273-5
1.312-9
1.310.1
1.310. It
1.305.9
1.306.9
1.306.U
1.306.6
1,302.0
1.303-3
1.283-1
1.275-2
1,272.
1,271.0
1.273.8
23.8
31-2
3U-2
31-0
1.802.0
1.777-3
1.831.0
1,880.5
1,891.6
1,80U.7
1,790.7
l.TSl'-S
Public Debt Service for data on new laBuaa; Dally Treaiury Stateaent for data on aaturing Isiuas and aaounti outetaadlogSee Annual Reports of the Secretary of the Treaeury for baek
l,310-ll
1.315-'*
1.313-7
I.308.U
1.302.2
l,30lt.8
It
ito.5
3lt-6
3"-
30.0
29.it
l,313.'i
1.307-7
1.3151
1.310.6
1.305-1
1.306-I
flguree.
1/
Tenders for $200 thousand or less froa any
accepted In full at 99-905 per hundred.
December 1946
33
Offerings and Maturities of Treasury Bills
-
(Continued)
Table 2.- Prices and Rates of Treasury Bill Offerings
Total bldt «ee«pt«d
ATlrace
price
par hundred
ConpetltlT* bide accepted
Iqulvaleal
aTerage
rate 1/
Iqol Talent
rate
Kqulvaleot
r^e
1/
IjUj-Oct.
U.
Oct.
Oct.
Oct.
11.
18.
25.
Hot.
Hot.
Hot.
Sot.
Hot.
15.
23.
29.
Dec.
Dec.
Dec.
Dec.
20.
27.
1.
S.
6.
13.
19>46-JaB.
3.
10.
Jan.
Jan.
Jan.
Jan.
17.
2U.
31.
rek.
Feb.
Feb.
Feb.
iU.
21.
28.
Mar.
Mar.
Mar.
Mar.
21.
28.
7.
7.
lU.
U.
Apr.
Apr.
Apr.
Apr.
11.
18.
25.
Mar
May
Nay
Ma7
2916.
Maor
23.
31.
June
June
June
June
20.
27.
6.
13.
Julj
July
Juljr
5.
11.
18.
July
25.
Aug.
Aug.
Aug.
Auc.
lu«.
15.
99-905
99 905
99-905
99-905
99.909
99.907
99.907
99.907
O-360
0.368
0.368
0.368
0.376
0.3T6
0.376
0.376
99-905
99.905
99-905
99-906
99-905
99.9O8
99.9O8
99. 908
99-908
99-908
0.35U
0.36U
O.36U
0.368
O.36U
0.376
0.376
0.376
0.376
0.376
99-905
99-905
99-905
99.905
99. 908
o.36»i
99.908
99. 908
99.908
0.36U
0.36U
0.376
0-376
0.376
0.376
99.906
99.905
99.905
99.905
99-905
99.9O8
99.907
99-907
99.907
99.907
0.36U
0.368
0.368
0.368
0.368
0.376
0.376
0.376
0.376
0.376
99-905
99.905
99.905
99.90U
99.908
99.9O8
99. 908
99. 908
0.}6k
O.iik
0.36U
0.360
0.376
0.376
0.376
0.376
99.905
99.905
99.905
99.905
99.913
99.915
99.910
99.9O8
0.3U1(
0.36"*
0.376
0.376
0.376
0.376
99.90^
99.905
99.905
99.905
99.9O8
99.907
99.907
99.907
0.360
0.368
0.368
0.368
0.376
0.376
0.376
0.376
99.905
99.905
99.905
99-905
99.906
99.907
99.908
99-908
99.9O8
99-908 2/
0.368
O.36U
O.36U
O.36U
0.368
0.376
0.376
0.376
0.376
0.376
99.905
99.905
99.905
99.905
99.908i/
0.36lt
99.9O8
99.9O8
99.907
O.36U
O.36U
0.368
0.376
0.376
0.376
0.376
99.906
99.905
99.905
99.905
99.9O8
99.907
99.907
99.907
0.368
0.368
0.368
0.368
0.376
0.376
0.376
0.376
99.905
99.905
99.905
99.905
0.368
0.368
O.36U
O.36U
0.376
0.376
0.376
0.376
0.376
0.36>i
0.336
0.356
99.901*
99.907
99-907
99.908
99.9O8
99.907
Sept.
5.
Sept. 12.
Sept. 19.
Sept. 26.
99.905
99.905
99.905
99-905
99.907
99.907
99.907
99.907
0.368
0.368
0.368
0.368
0.376
0.376
0.376
0.376
Oct.
Oct.
Oct.
Oct.
Oct.
99.905
99.905
99.905
99.905
99.905
99.9O8
99.907
99-907
99-907
99.906
0.36it
0.376
0.376
0.376
0.376
0.376
Source:
lote:
1.
8.
22.
29.
3.
10.
17.
2U.
31.
Public Debt Serriee.
See Annual Baportaof the Seer itarj of the Treaaury
for back figuxee.
1/
2/
2J
0.36>t
0.368
0.368
0.368
0.372
Bank dlacount baela.
bcept )100 thoueand at 99.925.
Cicept $500 thouiand at 99. 930.
Treasury Bulletin
3^^
Sales and Redemptions of United States Savings Bonds
United States savings bonds were first offered for
Bonds of series A-D were sold
In liarch 1935.
Series E, F, and
between March 1935 a"d Aprll 19'Hsale
bonds have been on sale since May 1, iglVl.
Series A-E bonds
are
10-year discount
bonds sold
and yield 2.90^ per annum if
Series F bonds are 12-year discount
at 75f» of EBturlty value,
held to maturity.
and yield 2.53ft
bonds sold at 7^% of maturity value,
bonds are 12Series
per annum if held to maturity.
year current Income bonds, sold at par, bearing Interest at 2-l/2=;J per annum, and redeemable at par at maturity or at stated prices less than par before maturity.
Purchases of series A-D bonds were limited to
These
$7,500 issue price in any one calendar year.
subscribers prior to
bonds were available to all
April 1, 19't-O, and to individuals only after that date.
Purchases of series E bonds are limited to $3,750 ieeue
price In any one calendar year, and may be made only by
Individuals (defined as natural persons only). The
limit
price
year
for
in
19'4-1).
series F and d combined
any
is
$100,000 issue
one oaJendar year ($50,000 in calendar
Series F and G bonds are available to all
subscribers except commercial banks.
Commercial banks,
purchase these bonds during
certain periods and with certain restrictions.
For
details concerning these periods and restrictions see
"Treasury Bulletin" for December l°l^k-,
page 36, foot-
however, were permitted
to
and "Treasury Bulletin" for February 19U-6, page
For details concerning
9, and page A-22.
features. Investment yields,
and redemption values see
"Treasury Bulletin"
for October ^9'^5,
pases k-h and
note
37,
9,
footnote
A-5.
Series A bonds matured
ries B began
to
in
19l).5,
mature in January
and bonds of seMatured bonds
19l).6.
turned in for redemption are included in the figures on
Matured bonds outstanding are reflected
in the Interest-bearlnp debt until all bonds of the series have matured, when they are transferred to matured
debt upon which interest has ceased, in accordance with
the practice of the Dally Treasury Statement.
redemptions.
In the following tables
at issue price,
sales
figures
at current redemption values.
Amounts of series
standing are quoted at par.
Table 1.- Summary of Sales and Redemptions, by Series, as of October 31, 1046
United States
aa-rlD^e bonds
are
quoted
and redemptions and amounts outstanding
out-
.
.
.
.
December 1946
35
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 2.- History of Sales and Redemptions
Bedstq>tlo
ioonat otftst&ndin^
Salai
plus
aeeraed
dlBCOUBt
Itttereat-
debt
(In
Total. Ineoptlon to Oct. 31, 191)6.
e».752
3.215
1.557
6,082
5.99lt
11.7*9
19V
191A
IS."*?*
19lt5
lit,
891
9.612
I9lf6
ODthly
lllloni of dDllare)
66. ;2;
3.120
Tlacal yearai
I935-I9HO.
I9U1
19U2
Percent ef
redeaptlone
to aaouat
eutetandlng
223
3«7
573
11.916
15.721
15.278
10.
UH
2.905
301.
llt8
11.3
11.31't
207
10,188
sua
2.371
H.298
6.717
21.256
2.35«
U.252
6.579
3>t.6o6
S5.5«6
13«
'»9.035
Celend&r jeare:
12U
77
102
3.573
3.113
9.259
379
168
169
13.898
lS.139
13.»21
1.5*5
l,29t
661
1,220
1.310
616
533
559
Pebruarj.
Murch
960
622
626
1.023
666
672
1%
April....
668
•foy
59l»
Jono
July
571
1935-19'tO..
3.1*9
igUl
3.0^
WUs
9.157
19U3.
191A.
13.729
le.oiA
12.937
igiis-
Months:
I9U5- October..
BoTember.
Seoeaber.
^5
62U
l.UU
igl^fi-Janoary..
September
October.
639
635
820
519
.
.
Total. Inception to Oct. 31. 19'l6.
3.9>t9
3.3'»l
5.55«
621
753
590
igk
ATi^ost
3lt9
552
519
537
l7«
369
162
3t3
15.050
1.576
3.321
5.»72
•10.361
Us. 183
52>t
>l6.786
U7.1173
5U9
'«.183
613
552
620
18,588
W.733
I.JO
605
538
505
>t8,828
1I8.917
'19.035
1.27
U9.320
1.09
it9.S77
•97
•97
118.692
5Ug
'i9.5't5
567
683
U9.62ll
U.632
Tiecal yeare:
30lt
3.215
1935-19I1O
19UI
I9U2
19113
92
96
3.'690
893
87
19IA
19115
19U6
Calendar yeare:
1935-1910
I9UI
3.1*9
I199
191*2
3.573
576
3.60U
79
1U3
309
379
155
lOU
369
7U
19113
19ltU
19I15
70
179
Kontha:
19lt5-0ctobor. .
BoTOmber.
DaceBbor.
191«6-Janilal7
.
Tebrnazy.
March
ipril
MiW^
Jnno
IvlT
Angnat
September
October..
1.32
1.12
1.16
Treasury Bulletin
36
Sales and Redemptions of United States Savings Bonds
Table 2.- History of Sales and Redemptions
-
(Continued!
-
(Continued)
Bedcnptlone 1/
Ajnonnt
outstanding
(Interestbearing
plUB
accrued
dlecoTut
dett)
(In mllllona of dollars)
Series E. J, and O
Total, Inception to Oct. 31,
1^..
60,803
lt6,3U2
61.893
Plscal years:
191(1
66I1
19U2
5.993
11.789
15,U98
im
191A
19U5
191*
W,«91
9.612
36
127
28U
U67
66U
5.995
11.824
15.625
15.175
10,078
66U
6.58U
760
7^
17.61t8
2.292
U.156
2.286
U.I3U
6.337
l»5,670
6.1)08
30,981
H2,000
Calendar yearst
19IH
2.537
19t3
7l»
19116
19>t5
12.937
Monthe:
19U5-October..
BoTeober.
December-
195
379
lU
2)t6
2.537
9.157
19112
^>^5
aw
I.50U
3.263
5.332
1.502
3.251
5.293
W»!706
506
529
'&
13.
16,239
13.315
65U
lU
2,52>»
11.
W7
62U
1.I8U
1.25U
l.Zllt
1,301
596
511
53U
Febmajy.
622
March
626
1,008
657
66;
IS
707
590
lt5,lt2U
5211
'»5.53^
627
U91
Us.Sto
M^
U56
19U6-Januaiy
.
. .
April
May
June
59U
571
July
August.
September.
753
590
lt9U
80U
626
5U1
October.
519
;6o
.
.
.
Total, Inception to Oct. 3I, 19I16.
Il3,ll82
1)1*,
587
>t3.235
1*5,126
U5,2l*7
581
530
596
U5,308
i»5.97't
16,152
116,237
li6,3U2
1*95
30,231*
71 seal yearet
203
3.528
8,30U
I9UI
3.526
8,271
11,820
11.553
6,739
191*2
I9U3
igw
i9>»5
191*
U,938
60
689
2.100
U,8U
3.81*6
7.173
5.912
2.095
3.825
5.8U3
69 r
203
3.671
11.287
21,125
29.097
30.358
Calendar yearsi
19U2
5.989
ig"*?
10,31*11
191111
12.380
9.822
I9't5
Months:
19115-October
NoTenber.
December.
i*.925
I.13U
6.923
15.957
25.515
30.727
i,il*5
70
182
353
11
11
5.999
l,iit5
19U1
209
1,380
3.005
U.963
209
1.378
2.993
10,1*11*
12.562
10.175
557
29.810*
U7I*
1*70
1*90
1*85
30,263
30.727
1*07
U92
550
5U3
30,870
30.778
30.635
i*2U
51*6
538
381
373
1*69
1*62
U39
1*32
1*1*2
t35
510
865
908
537
893
953
6S5
March
6U1
367
371
I^tU.
May
June
388
3^5
321
.
19'l6-JaBu«ry.
.
.
February.
too
July
August..
September.
.
386
3t7
309
"33
381
352
October.
.
327
562
365
(Continued on following page)
30,513
30,1*25
r
8 r
30,358
7
30.3't9
W2
30.333
30.279
I105
30,231*
..
. .
.
.
.
.
December 1946
37
Sales and Redemptions of United States Savings Bonds
Table 2.- History of Sales and Redemptions
-
-
(Continued!
(Continued)
Bedemptloni
Afflonat
oatstandlo^
( Interestbearing
plttB
accraed
dlBConnt
dett)
(In mllllonB of dollars)
Total, inception to Oct. 31,
I9I46.
Fiscal years:
I9UI
l^ki
I9U3
I9UU
3.2llS
2.9115
3
U99
17
1.2ll2
19115
67
135
75«
gOS
679
58
89
igi*
I107
IU9
1.996
2.60U
2.895
67
CalendAr jears:
207
igiji
19112
im
191A
773
995
isits
65U
750
786
35
621
106
7
85I1
7
35
77
lou
1.569
2.278
2.793
Months:
19U5-Oetol>er...
BoTembar,
Deeeaber.
19l|£-Jan<iaLr7.
2.67U
2.720
2.793
2.823
2.8U1
2.855
.
February.
March
2.8711
April
May
June
2.883
2.895
September.
s.giu
2.925
2.932
October.
2.9115
July
Ao^st
.
. .
.
Flacal years:
19U1
191*
19U5
395
2.032
2.759
2.876
2,65«
191(6
2.I165
19'12
19lt3
13.163
llt.073
Total, inception to Oct. 31, 19't6.
395
3911
2.032
2.759
2,876
2.658
.658
2.Ul!»
1^5
220
.3^
220
3l(8
Ms
5.119
7.861
10.299
3I18
12.1ll6
CalendAr yearsi
2.61(0
2,61(0
2,891
2.520
2.891
2.520
1.183
3.669
6,221
8.931
11.186
107
265
262
265
262
10,717
10.955
11.186
278
225
228
278
225
228
U,U32
February.
March
April
250
250
12.038
12.226
June
226
226
I2.I116
July
September.
335
217
165
335
217
165
12.711
12.895
13,026
October.
169
169
13.163
1.185
2.516
19111
19112
19I13
I9UI1
19I15
Months:
19U5-October.
HoTember.
Deo amber.
.
igUS-Jaraaary..
11,628
11,818
May
Au^st
Ifelly
. ,
.
.
Treasury Statenent.
Hot available.
BeTised.
1/
Less than $500 thousand.
Beginning October 19UU eerie
redemptiona which eontaiji ea
)
E redenptions include unclassified
aaounts of series A^D.
ill
Treasury Bulletin
38
Sales and Rederaptlone of United States Savings Bonds - (Continued)
Table 3.- Sales by Series, Classified by Denominations
Salea In mlllloBa of dollars at Isiuo prlo
Peroaatago dlatrlbatlon of salaa
Denomination
$10
1/
Sanominationa
*10 1/
$200
»25
2/
end
«25 3/
2/
*50
$100
$500
and
and
$200 2/$SI, 000
Total. InoeptloB
throng
23I1
191A
1915
19I16
13
1*1
Ul
616
2.988
31*2
813
1,081
l.Tll*
U.llt9
1.61*2
3.928
2.101
1,725
910
637
1,007
1.397
1.326
1,11*5
191*3
ll*,l23
11*
Tleoal yeara:
19U1
igMa
l*3,lt«2
3.526
8.271
11,820
11.553
6.739
oot. 31. igitS.
llU
1.769
3.719
93
712
1.390
1.797
1,U16
8,851*
771*
93
1.119
1,1*81
2,Oll8
2,100
1.591
100.0
100.0
100.0
100.0
100.0
100.0
7.1
32.1
Calendar yaarei
Wl
12.380
9.822
it.aUi
3.21*3
258
1.338
2,169
2.706
1.81*2
229
8^6
1.253
1*50
1.313
I.8I5
2,163
2.002
Monthoi
19U5-0ot..
lOT.
Bee..
.
19146-Jan.
ret)..
Mar..
ipr..
llaiir..
June.
Jnly.
117
103
Sept.
112
Total. Inception
throngh
Oot. 31,
igitfi..
7iaoal 7oarai
191(1
U61
191*2
2,ii67
191*3
19UI1
3.517
3,678
3.3J7
2.873
ISltS
191*6
Calendar yeari
1.333
3.168
191*1
191*2
191*3
19m
I9U5
3.115
KoBthai
19l*5-Oot
Hot.
Dec.
.
19ll6-J«n.
Tab.
Mar.
kpr.
May.
June
Jnl7
Aug,
Sept
Oct.
1.3.2
27.0
33.8
32-5
100.0
100.0
100.0
10,31*1*
10.0
29.5
36.0
100.0
100.0
100.0
5.9«9
ISHl
I9IA
^ItS
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
191ta
31.1
29.7
28.0
100.0
100.0
100.0
23.8
3l*.U
33.9
25.0
25.6
2i.9
2U.O
6.5
9.7
13.1
13.9
16.9
13.5
ao.U
December 1946
39
Sales and Redemptions of United States Savings Bonds -(Continued)
Table 4.- Number of Pieces Sold, Classified by Denominations
(Thousands of plecoe aold)
*?00
»25
2/
1'
Total. Inception throagb
Oetobar 3I.
1,562
156,205
191t6
11*,
322
11,869
Haoal 79ar»:
19UI
19l«
19^3
221.2^
1*3.
209.1*80
1*5.995
112.071
21*, 271*
108
igui
191*6
191*5
3.856
.172,91*8
901*
11,1|0U
785
6U5
11,207
12.161*
2,313
2.511
2.8U5
620
516
509
8,985
1,91*7
1.2l|0
189
e.iioi*
1,365
671*
71*
6.21)6
1,2911
723
523
299
299
6.222
1,1*21
71.3
U.S66
1,128
971
637
613
1,008
1,015
890
6.077
2.1*85
3.1*1*6
91*. 35"*
18,999
37,060
57.915
37.773
17.8U2
28,915
36.077
198.333
226,213
600
1,751
3,31*0
13.U52
9.255
9.081
191*2
3.582
11.381
17.36U
lg,6l3
Calendar years:
I9UI
1.1*93
612
2.282
li*.693
16. olio
19U6
9.223
g.505
13.219
135.227
270.06g
320.527
253.078
ism
I9't5
353
9.107
28,828
800
125
1.698
2.686
3.725
3.535
2.065
552
10.837
22,851
3U.UU7
32.063
767
32.832
159.369
1.905
55.967
215.709
305.9*6
303.116
165.039
2,1*20
2,881*
1.975
2.730
2,800
2,121
2U.55ii
769
2.981*
2.669
1,211*
1.81*9
365
1,902
llOl
109
330
335
317
320
77
212
99
103
259
12U
130
78
68
56
111
110
109
lllO
706
6U2
599
72
61
11*6
57
111*
639
61
Months:
19l*5-Oeto1)er
HoTeobor
December
19U6-Jani]aT7
Tehroaiy
March
May
9.238
7.730
June
6,g!t8
July
September
7.216
6.8U7
6.033
'"I
276
239
U.572
3.997
October
6.22T
233
U.09U
ilpril
Au^et
lt.756
126
9U
13U
133
156
137
11*9
Series t and S
Total. Inception through
October 31.
2,1*56
191*6
Fiscal years:
ig"*;
233
2,110
3.251
3.869
3.326
191*6
2,311*
191*1
191*2
191*3
191*1*
100
60
72
216
303
291
125
771*
I.IU9
1,1*25
300
U87
610
1,150
6U7
71*5
106
1,090
1.231
1.071
931
151
11*8
Calendar years:
901
2,902
3,62U
3,821
2,807
191*1
191*2
I9U3
191*11
191*5
277
1,077
1,317
156
270
1,391*
226
899
Months:
19l*5-October
HoTemb er
U19
565
613
1*1*7
373
971
1.195
1.188
97s
38
Its
115
1*6
109
90
December
59
^P
Iks
131
109
55
38
38
19l*6-Jannal7
Tebruary
March
1*2
^rll
May
Jvne
]l
July
II
Au^st
September.
35
....
38
October
Source:
1/
Ifelly Treaeury Statement and reports from Federal Eeserve Banks
Sale of $10 denomination Series B bonds was authorized beglnnln
June 191*1* for sale to the armed forces only.
2/
2/
Sale of $25 denondnatlon Series t bonds was authorised in Doo«»ber 191*1
Sale of $200 denomination Series t bonds began In October 191*5.
Treasury Bulletin
to
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 5.- Sales of Series E Savings Bonds, Classified by States
(la thousaadi of <l«llari}
Total.
incaptlon
through
Octobor 31,
igUs
October
Hovsabflr
ISlli
Deeembsr
JaziUAxy
Ta^ruazy
March
19lt6
Alabaaa
Irliona
Arkaniai
5I7.66U
15.701
10.gl«8
3.61)1*
1.297
2.373
U,92l(
2.661
It, 910
i.a5
3.505.9U6
333.1*8
811.367
Callforala
Colorado
Connactlcut
"t.57lt
i;>6.i08
2 78.533
37.U39
73.966
7.535
13.812
5lt.9«U
28,180
2.738
5.356
106
1.057
5.610
6.771
I2.7i*7
Dalavara
Slit, of Coluabla
lOlt.
norlda
535. 700
Oaorcla
527.792
6,617
3. alio
6.36U
11.326
2,228
5.797
8.911
3.658
1.239
2.351
3.327
1.006
2.015
3.558
1.323
2.197
3.lt58
1.22U
2.217
3.536
1,268
1.973
627
3.'«7
5.951
25.199
2.958
5.089
28,1*91*
29.51*2
26,581
3.333
5.059
3.161
5.0*t
29'.
, T51
1.019
8.693
.^^
6.395
6.979
765
6,265
1«.580
1.938
8,192
10.335
'*.997
i*,856
lt.l*70
U,809
10.9U7
5.035
6S,80U
1,140U
gits
3.126. U06
6,128
1.089
35.617
11.39^
Ullnola
58.136
33.920
Indiana
looa
lanaaa
l.lt7.''73
13.2*
961,088
996.363
6.591
U.75I
22,68U
28.979
lU,678
i7.'ai
16,828
•65.087
U.263
It9lt.590
lt.7U9
9.005
9.370
Ui*)
1.7«2
1*,15U
578.0U1
1.U65.875
2.330.9'e
9.978
MlchUan
18. 635
Nlanaiota
Nltilaalppl
Miiiourl
1.070.371
5^3.837
Idaho
lllO.OZU
3.9't9
U,U95
It.OlO
9lt0
30,891
720
29.193
8,706
8.803
I*.
737
9.313
9.222
9.705
10,009
I0.39lt
l*.8l)5
5.8OI*
5.761t
3.782
3.662
1),518
i*,638
U.059
1*,097
1.536
I.38I*
1.606
3.710
1.50U
1.267
1)91
U.267
3,gl|8
11,1*78
12,957
U,Ug2
12.095
lU.SSl
lt.338
13.358
15.618
10.578
lU.217
9.3*3
15.572
3.938
10.01*
13.987
7,125
2.090
9.855
7.3*3
1.92b
lO.OUl
8.072
10,808
8.658
1.907
9.326
7.087
2,100
9.008
2,05«
5.319
388
l.lt83
5.782
3U6
1,815
5.227
312
9*5
13.166
777
11.122
926
10,760
760
29.'i63
9,726
7.78U
7.707
9.998
10,231
9,585
9.6U2
7.088
lt,lt92
l*,851
i*.n6
2.1465
1.1(25
21.
Uit.696
13.979
26.731
28,392
12,878
lU.glO
7.003
1.993
9.897
22.623
7.196
2U.525
12.578
U,8S0
16,789
7,235
2.150
10.050
7.7a
IO.U7U
53.025
2,Ul«
3.77U
6U9
3.800
13.327
1.09s
3.268
8,lU3
796
Haw Haapahlra
lav Jaraajr
Ia« Itozleo
125.625
1.598.170
101,337
1.320
lU,676
1.052
2.>>75
31.167
2.273
Han Tork
Borth Carolina.
lorth Dakota
5.28lt,Ul3
5711,108
Zantucky
Louiaiaaa
Naina
Kar/laad
Naaaachuaatta.
196.
.
.
90it. itiU
301, 6
Montana
Vabraaka
SaTada
W
205, '92
1)65.258
.
206,762
Ohio
6.117
l£,U89
e^
1,728
6.1*63
332
1,866
22.087
1.662
961
12.635
963
1.069
13.9^3
913
11.771
836
1,078
12.983
785
76.1)89
9,01)6
2.61*1
1)6,233
1*0,701
1:7^^
5.176
U.338
4.702
Ul.369
U,89U
1.785
39.909
10,630
5,626
132.671
5,2iA
1.560
K.gJS
3.273.715
38,2lt2
69.156
21*5. 561
285. 900
2.262
3.601
5.2'»9
I93.2l»6
1.331
5.O7U
16.662
5.566
11.158
9,'t53
1.733.i»30
35.0»*3
3'»,li*5
Utah
Varsont
Tlrclnla
193.621
71.928
75'*. 316
2.122
53"
9.537
5.812
1,603
17.871
ii*,656
Washington
Vaat Virginia
Viaconsla
VroalB<
885.250
362. 81U
955.276
87,685
9.656
16.790
8,063
22.678
2,158
Uaaka
Canal Zona
Ba«ati
Puarto aico
Tircin lalanda...
28,9lU
26,592
251.373
35.603
1.778
Othar poaaaailona
.
South Dakota
Tannasiaa
Taxaa
535.316
2.1)01
383
3.937
thoda I aland
South Carolina.
It,
1*,U15
51.775
15.055
13.201
PannaylTanta
31*.
1.716
2,625,581
500,351
555.812
Oklahoaa
Oracon
it.71'*
.
1.577
5.557
395
1.729
1.1*9'*
22.562
21.706
1*.251
it.096
3.651
1..U59
8. 620
Total
Sourcaj
p
r
18.383
3.965
3.107
28,391
1,890
2.553
28.1*1(0
26,970
1.355
1.741
2*,7T6
1.617
2.379
3,666
11.911
2,0*3
*,08e
11.705
1.193
528
5.376
1,*U)
572
5.916
5.361
3.226
9.128
733
5.520
3.751
7.97*
658
766
268
1.077
l6l
215
1.180
76
30.3111
29.703
1,901
2,378
l.'*97
2.511*
2.7«
1.826
U.606
13.332
2,222
U.306
S.l6lt
2,lt6>t
2.53't
it.oits
l(.311t
12.709
3.898
12.379
3,9Ul
13.39"*
12.1176
13.883
1.709
5«6
6,283
I.U36
606
6.717
1.863
I.28I1
1.75't
i.'(93
I191
. *35
7.303
6.iru
6,561
6,398
6,fc7
3.563
5.890
3.8*3
8.531
78U
6,222
U.I53
8.62U
723
5,727
3.075
7,636
6,089
6911
713
lUh
257
212
178
21*6
258
1.333
305
278
233
1.075
212
1.350
1.82)»
lUl
299
710
653
238
1*22
U72
5.000
505
992
2.570
1.285
27
5
9U
81*
^169.690
+80.377
8.1(9U
-1*9.779
-57.028
-227
-17.192
416,9501
509.706
865,022
908,232
6lt0,86l
366,977
371.27*
387,810
1.635
2.25*
5.716
3.5*'t
i*,oi(3
8,55*
8.531
755
239
227
20
901*
Dail/ Traaaury Stataaant and rapor
Prelialnar/.
Ba7iaad.
of Tedaral Baai
1.363
3.65*
3.32*
1.358
1.882
1,81*1
7.'*95
15,1*26
3.'t90
8.451*
11.970
21.832
5,011
3.25*
2.331
itits
8,3>(6
1.90lt
28.681
1,101
070
828
19.828
4,622
3.3I8
i;;626
*3, 482, 023
Adjuataant to
Dall7 TraaauZ7
Stataaent
27.W16
1.793
2.098
It.
25.81|lt
23.221*
1,3115
3.136
3.3«7
2,21*5
6,181
3,01)1*
661t
5.69*
3.882
921
29.096
1*,U76
875
573
9.85lt
85U
6.206
3,607
3.35*
1,028
2,118
1,1(61
k
*5
6^
+6,335
-35. "136
+25.358
9.361
-8,*12
3**. 803
321,069
386, U76
3*7.278
308,8*6
Decetnber 1946
hi
Sales and Redenptlons of United States Savings Bonds
-
(Continued)
Table 6.- Sales of Series F and G Savings Bonds Conblned, Classified by
(Is
fatal.
taaapttoB
eDtebv
States
1/
thsoMsd* sf teUkrs)
19lt5
19>l«
31,
19116
129, SWt
796
J9.729
78.715
2.800
802
1,62U
2,210
1,101
899
2.075
633
1,822
1.893
Ml
760
1.633
M09
1.098
1,956
Uli
9*5
1.835
*17
860
16,509
2.198
5. 308
16,722
2,221
5.*50
15.501
1.975
*.*92
15.080
2.961
3.825
1.607
l.*78
571
1,107
l.*98
3*2
25.5*7
3.229
*.937
16,767
88
U,020
12.876
*.052
2,699
1,718
2.935
2.191
U7U
1.355
1.698
U,2li6
*,35*
18.3*7
2.200
7.059
16,232
1.883
3l»3.lt21
66.771
1U7.9J1
187.822
7*6
l.*33
1.361
1,527
2,582
3.31*
1,778
2.253
3.216
2.222
2,331
3.511
l.lUe
1.225
2,871
2,l|lt2
3.158
1.006
2.208
3.900
931
1.906
3.762
1.180
2.596
3.2**
889
2.893
*.*65
1.137
2.563
2.850
166.831
38,028
1.307.T70
l.l6lt
2,*50
239
9.*09
2.371
557
18,810
2.573
586
31.088
1.276
265
19.851
2.710
705
22.613
2.*35
859
20.078
1.970
752
18.789
2.559
629
25.38*
211.266
2,*89
U32
27.*3l
18. 32*
2.003
395
lU,066
387.298
3.191
2.320
1.756
9.168
11,780
6.363
6,728
7.6O8
3.652
8.213
7.859
3.623
5.378
5.73*
*.105
7.086
8.937
3.876
6.030
7.158
3.061
5.7*1
7.031
2.529
8.839
7.135
3.673
8.971
8,601
>t,oli6
6.190
6.201
2.131
5.305
5.169
3.e5*
210.557
17U,282
U)U,635
1.71*
1.139
l(*2
3.802
3.186
1.859
2,605
2.959
1,5*1
2.8*5
2.158
2.301
5,01*
1.981
1.8*3
3.331
2.635
1,206
3.705
2.083
1.7**
3.693
2.0*8
1.569
5.281
2.791
1.527
5.536
2,912
2,11*
3.715
1.662
1.629
2.578
1.727
861
25^.391.
1.5«U
6,690
3.172
3.879
lU,9go
10.835
3,1*1
12.288
U,2g6
19.876
9.193
3.*09
17.079
6.733
lt.680
12,1420
17,912
5,988
*.7l6
20.792
6,U«1
*.370
20,107
6,U81
5.173
11,*25
9,Uoo
5.*75
19.858
8.770
3.591
12.175
7.339
2.*63
6.527
*.998
JM.309
1.958
U97
4?:JP3
><,U90
8.055
l.gWt
10.305
5.711
1.650
7,080
6.612
1,3*2
9,615
5.371
1.100
6.805
5.97*
1.083
7.301
5.57*
1.158
7.711
5.200
1.360
7.*69
6,795
1,226
10,752
8.675
1.978
10.372
5.587
1.092
8.058
*.733
1.052
6.795
1.800
5.067
37*
900
*,021
212
937
3.59*
26U
580
2.900
936
587
316
3.**0
192
706
2.7*7
268
986
}.8I«
76
918
3.180
290
762
3.106
155
I409
1.376
3.166
10.>tl9
82*
7.62*
657
1.298
9.665
199
1.6*3
7.*10
201
1.231
7.955
300
1.383
10,085
992
75*
7.61*
llA
53*
5.612
969
UU.262
3.*87
2.U26
3*.370
3.*39
1,2U8
50.872
2.816
1.108
*6.56*
2.830
650
*5.537
3.088
1.288
*5.362
3.*13
1.231
.9*3
50,082
*,131
853
>t2.lW<
36.236
3.276
2*. 003
15.50*
2.703
2.658
2*.383
2.69?
1.89*
13.890
1.63*
1.783
15.39*
1.717
1,767
17.772
1.699
1.700
15,58*
1.727
l.**3
20,095
3.0*2
1,668
20,108
1.573
1.328
20.886
2.172
1.219
19. *5*
1.927
1.95*
992
25,58*
2.057
l.*6U
27.*59
2.322
1.786
35.803
2.1*8
1.737
z.igu
3.852
10.921
1.331
3.105
8.028
1,0*9
3,510
7.113
82U
1,692
5.131
916
2,301
6,U25
971
2.71*
5.615
586
50*
*93
*,360
780
990
*.032
l^
2.533
31*
563
2.199
1,7*1
8,610
63*
3.9*6
1.532
9.203
U26
3.503
1.260
5.962
3*7
79
2U
11
13
9
555
26
21.377
*.5*8
1.118,285
1>41,069
393.
*»
189.906
851.218
•199.09
55.2**
171.518
17.39*
71.12*
5*6.762
33.92*
2,825.181
197.18*
65.367
16,7*3
1,1*1 It
*51
9*6.17*
ISO. 715
1*0.167
9,98*
552
l6,9B>t
1.3S*.901
135.319
93.210
8.769
960
566
2*. 029
53.128
170.567
*73.6**
1,175
2,926
35.831
39.022
231.*89
236.231
87.250
*27.e20
27.827
l.*67
891
2.638
3.212
2.708
5.*02
1.750
10.717
37
51
1,018
lUo
6.226
53.867
13.918
812
903
6.9U
2,>4*0
23. *6*
p
•
1/
9I16
2,201
988
23.515
2.052
2.316
1*.*29
1.817
1.83*
10,682
1,775
2,211
27.321
2.727
1.722
33.133
5.550
2,183
22.59*
2.27*
1,182
15.557
1.57*
1.160
1.263
2,66*
5.306
1.51*
3.025
7.151
6. 918
6,>t56
999
2.1*5
5.209
601
508
3.175
510
786
2.828
*57
3.*20
u.iw
611
3,137
U«6
379
3.381
3.581
2,60*
79*
8,125
173
316
2.820
1.368
7.003
516
2.865
1.552
8.535
385
*,89*
2.306
9.161
MI5
2,67*
1,*21
7,583
399
2.*5l
1.121
5.*87
523
6
6
10
22
536
,*91
1.7*8
23
1.763
-3,2118
-*.758
»g.7lU
*g.91*
I7.3a°.750
«•:
9.1*6
560
ll*.76U
318.599
31*5.289
3I8.698
255.*27
Ikily fraftmry Stateaant and rcparta frea Tadcral Baaarrt Baaka.
PrallalBar7'
Laei than $500.
bonda to eomsrelal
Btata tlgartm aisloda lalea of Sarlaa T and
baaka. Gonmarelal banka vara paxalttad to porobaae Sarlaa T and
2.*39
1*95
279.952
2*9.5*0
1.169
3.691
507
1,001
250.157
1103
*65
»9
3*.963
-19.310
255.097
3.653
1.26*
>8.088
>2.ia3
7M*
185.265
2112.
iMnda uadar oartaln conditions dnrlag the aalandar jaar 19**
(Traasorr Bollatla* far Oaeaabar 19**. pa(a 36. faotaaU 9)l froa
Jma 18 thrangh Jaac 30. 19*5 ('Traaaur lollatlii' for Tabmaiy 19*6.
paca 37. footnota 9)1 and from Daoaabar 3 thr<n^ Saaaakar 8. 19*5
(traaaoiy Sollatls' for Tahraair 19*6. paca 1-22)
Treasury Bulletin
h2
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 7.- Redemptions of Series A through) E Savings Bonds, Classified by States
(In ttaouutnds of dollars at ourrant redeoption TalOAs)
19U5
Total
Oct. 19UI1Oot. 19U6
Alabama
ArizooA
Afkansaa
153.573
51.887
83,628
California
Colorado
Conneetieut
1.060,588
U,ita5
6.991
2.3O8
3.730
19)<£
7.892
2,826
8.532
2.698
l*.876
lt.300
50,602
U,128
8.U61
58.213
5.3'*
8,578
52.179
1.286
6,301
10.252
7.35'*
2,693
U,22U
51.387
U,85U
9.536
i»9,25i(
180,373
Solavara
Olotrlat of Oolmtia
Tlorlda
25.76U
125.230
178,283
1,302
5.953
8,820
1.130
8.550
1,110
6,118
8.733
Ooorffla
156,662
33.20U
8,209
Idaho
8.977
1.776
83'i,l92
39.566
7.012
1.309
35.175
7.153
1,580
nilnolo
36. 800
1(1,292
16,627
9,213
5.863
IU.7IO
8,032
5.377
761
7.858
16,183
10,119
7.252
15.155
11,811
5.'»32
9l>,2lt6
1,>I81
3.987
8.282
5.71*1
1(,880
8,a2
7.927
3,008
6.305
55.872
5.532
9.625
1,181
1.372
8,656
7)675
7.1*7'*
8.525
2.083
38,658
1,871
38.926
Indiana.
31(1, 611
Iowa
Kansat
19U,2)12
E«ntn£l7
Lonlilana
Halna
137.22?
135,81*
7.557
6,781
2,25U
6,399
6.557
2,0Ul
6,376
6. 508
2.189
6,721
7.051
1.993
6,311*
W.533
)(ar7land
1U6,883
322.371
718, U87
7.685
16,305
33.979
6.673
13.796
29,566
6.626
lU,705
7.12l(
5.91(0
7,378
15.926
311,000
32.316
30,106
32.63'*
9.262
3.292
13.746
9.279
3.521
l5,Ol6
12,120
(,102
17.790
7.237
12,2l(l(
'*.135
'*,'*3i
306, 1)60
10.370
3.815
13.956
1U,835
17.256
1,990
131,ltlt8
MaoBaohusotts
Mohlean
Minnooota
HisslHlppl
Mlnourl
Montana
Vebraaka
Vovada
"to,
535
lit,
6.1(27
6,209
1.673
ll*.822
l'(,792
10,785
8,257
7.028
6,719
2,11(6
95.8J3
15,868
2,1*39
1*,628
'*,587
766
888
777
1.916
6.102
838
I.U77
I8.679
1.633
1,266
17.971
1.369
1.375
19.332
1.368
l,2l»7
19,016
1.769
1,113
17.162
19.2J1
1,063,77'}
iU7,'i66
Bew Tork
Horth Carolina
Berth Qilosta
U.061
720
28,090
373.768
30.622
New Haj]q}Bhlre
Hew Jersey
Sew Mexloo
U.325
738
68,227
7,213
1,230
U8,379
6.985
i,18U
5lt,80i»
61,1(25
37,282
7.16«
7.717
3l,66lt
29.379
Ohio
728.290
OlfXahoioa
lW,302
Oregon
160,983
PennsylTanla
Bhode Island
South Carolina
1,581)
6,666
7.007
"•5.691
1.338
l,6l(l(
1,871*
52.211
7.053
927
53.901
9.639
I.8O7
36.258
7.061
1.153
8,217
1,718
31.851
6,252
7.200
3U,03l
9.650
g.691
32,11(1*
7.530
8.329
1(1,050
35.886
2,622
3.955
2,18l(
51.015
2.776
(.123
7.72'(
8.1(86
59.22H
3.268
72.9'»3
U,U5
2,731
3.6i5
37.828
2,836
3.773
30,861
156,859
507,309
1.329
9.397
27.585
1.338
6,967
26,09U
1.302
7.625
23.573
1.773
7.679
1,207
7.262
8.0a
2g,llS0
26.1(66
29.998
53.698
13.530
192.710
2.610
755
10,185
2.1183
623
9.085
2,505
665
9.170
10.1(21
232.386
106,061
11,612
5.989
10.796
10,063
10,1)52
22lt.782
vyoming
20,31*
9't7
79't
Alaska
6,019
2.8U7
55.385
lh,350
,350
318
268
3.87}
3.506
593
South Ddcota
Tennessse
Texas
t»tah
Texnont
Tlrginla
Vaobinetoa
Vest Tirginla
Vlsoonsln
Canal Zone
Bswail
Puerto Bioo
Virgin Islands
Other possessions.
2,76l(
622
536
7,823
'(.61*7
12,01*3
5.'»70
9.32'»
10,315
832
10,855
1.153
It3U
299
10,1*52
u.oto
10,050
1.901
3.117
719
il.3'*5
12.211
6.277
10,591
1.298
220
325
3.719
593
1.367
'*5
.
Adjustment to Bally
Treasoiy Stateaent
Total
2,651
'1,910
3.16U
732
25
3,180
38.512
5.6lt6
-7.235
11.273.776
582,809
'196,962
-5.569
-68
520.765
-7.95'*
7.163
2.596
3.997
December 1946
^3
Sales and Redemptions of Treasury Savings NoteB
Treasury savings
notes
were
Issued
In
three
se-
from August 1, 19'+1 through June 22,
19'*-3,
series B from August 1, ig**-! through September
12, 19'*-2, and series C whloh have been on continuous
sale since September l"*-, 19'*-2. All of series A and B
ries,
series A
and some of series C notes have matured.
Series C
value
each
notes
are
sold
at
par,
and
month, yielding 1.075^ per annum
accrue
In
held to
These notes
If
maturity (3 years from date of Issue).
may be used In payment of taxes any time after 2 months
after Issue, or may be redeemed for cash any time after
For details concerning features,
months after Issue.
Investment yields, and tax payment or redemption values,
see "Treasury Bulletin" for October 19'^5i pages A-U- and
For details concerning the features of series A
A-5.
6
and B notes, see "Annual Report of the Secretary of the
Treasury" for 19'4-2, pages 207 and 220.
In the following tables sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes turned In for redemption (either for cash or for
tax payment)
are Included In the figures jn redemp-
tions.
Matured notes outstanding are reflected In the
Interest-bearing debt until all notes of the series
have matured, when they are transferred to matured debt
upon whloh Interest has ceased.
In accordance with the
practice of the Dally Treasury Statement.
For sales
and redemptions of series A and B notes by fiscal years
and months, see
"Treasury Bulletin" for February I9I+6,
pages 't-2 and k'}.
Table 1.- Summary of Sales and Redemptions, by Series, as of October 31, 1046
(In sllllocB of dollars)
Treasury eaTlngs notes
kh
Treasury Bulletin
Sales and Redemptions of Treasury Savlngrs Notes
-
(Continued)
Table 3.- Sales of Series C, Classified by Denominations
(In millions of dollars)
DenoBlBatlom
$500
19UU
8.953-7
7.015.8
3. 525.5
19^
19U6
I9lt5-0ct«k«r..
SoTOabar.
ZI«e«Bb«r.
19>t6-Juur7.
FsbrttArj.
March
April
lUiy
Juno
Jul/ p...
336.1
70U.1
598.0
301.8
111.0
178.7
299.0
19S.H
llU.o
Aocttst p.
300.5
1«S.K
SsptSBbar
2>t>.2
Octobsr p
10.5
13.6
1-3
.7
2U.2
32.8
13.8
tS.OOO
$10,000
$100,000
$SOO.0OO
$1,000,000
c
.
.
.
.
December 1946
U
U
U
1
^5
Sales of United States Savings Stamps
Table
K-
^
Summary of Sales and Redemptions
(In thousande of dollars)
Amount
outstanding
end of
fiscal 7ear
or month
213.350
196. 518
177. 598
95.976
i3^i
igiA
19^
19U6
igUS-October.
NoTember.
DAcember.
.
.
i^rll
Najr
Juna
July
Septaabar.
Octobar.
Source:
Hots:
1/
2/
Sxebanged for
thlted States
savings
bonds 2/
Exchanged for
Dnited State
saving e
Cash
2/
590.268 U/
51*1*.
6U7
U7l*.l68
70.1*80 5/
-16,832
-18.920
-81,622
1408,930
268,
1*25.762
UU
287.331
352.632
231.593
55. 738
109.852
191. '•7'*
130.1*22
10,587
11.396
5.259
13.893
13.1*12
11.387
3.689
7.273
9.8H7
372
-3,350
-7.838
91.988
87.750
85,28U
-3.988
-U,239
-6.128
-'».519
87.
129
82.8
80.6
17.2
61,052
100.0
100.0
100.0
100.0
68.1
31.9
9.3'*9
U,5i*lt
100.0
67.3
32.7
9.830
7.990
3.582
3.397
100.
100.0
73-3
70.2
26.7
29.8
16.713
10,623
11*. 367
11.229
6.751
8.999
100.0
100.0
100.0
67.2
3.873
5.367
63.5
62.6
32.8
36.5
17.11*8
10.051
7.097
11.607
6.80I*
1*,803
100.0
100.0
6.871*
U.OOl*
2.870
3.283
-13,021*
116.855
112.335
7.271
5.912
It,
705
1*,1J8
3.113
2.623
2,232
73.130
5.1*81*
5/
19.1*
37.lt
-3.275
l.67"t
2.21*0
-2.'»65
3.289
2.1»73
Ul.U
100.
100.0
100.0
100.0
57.2
55.6
52.6
1*2.8
5'».3
-5.2''5
58.6
58.6
58.2
115-7
-2.296
.
s/
9.309
6.362
3.598
-3.307
-2, 016
120.20',
Cash
'bonds 2/
U5.620 2/U/
lOU.UgT
99.252
95.976
I9U6- January
Jebniary.
Marcb
.
during
fiscal year
or month
139.356
133.229
I'll,
.
Perceotage dlstrlbutlo
of radoqitlone
BadeB^tlotts
Net change
Dally Treasury Statement.
See "Treasury Bulletin", JxUy I9U6 for bade figures.
Stamps sold prior to October 1, 19^ were Icnown as postal savings
stamps and were obligations of the Postal Savings System but subsequently became public debt obligations.
Estimated 00 the basis of samples mads by the Post Office Depart-
3/
^
^
Ul.l*
1*1.8
1*1*.
U7.U
See footnote 1.
Het of sales less redemptions.
Does not Include amounts transferred from Postal Savings Systea
the Treasury to cover outstanding stamps.
Includes minor amounts which wars exchanged for postal savings e
These aggregated 933 thousand for the period July 1,
tlflcates.
19U2 throu^ October 31, 19U2.
Table 2.- Sales, Classified by Denominations
Percentage dietrlbatlon of aalee
Sales In thousands of dollars
Denomination
Denomination
denominations
50^
313.691
209,121
135.277
55,115
52.5O8
32.611
9.619
32.583
15.755
5,1*22
827
865
398
1.303
1,350
692
1*70
9I16
1*78
157
1.859
2.502
1.006
1,218
^5^
l9it?
90. 268
126,327
191*1*
S08. 930
102,531*
19lt5
268, Ull
191*6
109.852
68,727
22,680
19l*5-0ctobar..
10. 587
Hovaabar.
Dacaobar.
11.396
5.259
191*6- January.,
rabruary.
March
9.309
6.362
3.598
i4>rll
Mv
Juna
2.565
2,986
1,201*
2,128
1,361*
552
3.283
July
Au^at..
3.689
7.273
9.8U7
.
Septambar
1*23
I.67I*
183
316
2,2U0
denominations
25(i
20,91*2
5.696
2.6U3
U,6l2
3,157
1,828
1,638
8U3
1,103
Octobar..
Dally Traasury Statanent; (2) Dltcributlo
Baaed upon Post Offlca Dapartaant date.
810
617
357
71.693
26,01*8
1*6.972
17,691
10,882
5.683
U99
322
1,316
86U
602
Ul*3
632
331
218
135
156
360
259
100.0
100.0
100.0
10^
21.1*
25^
53-1
51.1
50t
8-9
g.O
7.8
U.I*
100.
25.1
25.6
20.6
51.1
100.0
100.0
100.0
2U.2
26,2
22.9
51.2
50.0
50.2
100.0
100.0
100.0
25.6
25.6
1*9.8
1*8.2
13.0
13.8
25.1*
U9.U
12.1*
1*9.5
1*9.6
9-7
9-9
lU.l
13.6
16.8
11.3
10.9
11.8
19-3
19-7
17.9
50.
100.0
100.0
22.9
100.
15-3
50.8
100.0
12.9
10.9
lU.l
1*9.9
100.
100.0
21.
50.5
1*9.3
7.6
7-6
12.1
16.3
t.S
U.l
5.2
12.3
11.8
13.2
U.U
6.1
1.5
it.3
l».7
6.6
8.0
6.9
1*^6
OWNERSHIP
OF
GOVERNMENT
Treasury Bulletin
SECURITIES
.
December 1946
^7
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued
by United States Government and Guaranteed by United States
(In oilllons of dollars)
Seeurltlee issued
V Htalted States
GoTerument
Sectirities eoaranteed
Dletritution by classes of holders
tJ.
U.
of fiscal
year or month
lind
S.
OoTemment
7ederal
Besarra
Banks
Bgancies and
trust funds
Total
Private
Investors
outstanding
Public
Total
public and
Public
marketable
marketable
1.558
2.676
3.770
't8,387
1.693
1.791
1.835
2,028
2.10U
6,iaD
2.526
2.56U
2.551
2.U58
2.180
71.968
I35.38O
199. 5U3
256.357
268.111
lo.jto
1U,091
18.920
2U,93U
29.121
2. '152
6.105
6.759
7.885
10.871
lU,2S7
18,812
22.332
19'6-Oet.
BOT..
259.1(39
262,git9
26.7t5
26.837
27.0'»1
20,577
20,710
20,000
209.1(18
212.51*1
275. bg"*
6,139
b,09«
7.012
23.276
23.t72
Sec.
211,262
221*,
191* -J ea..
Teb..
Mar..
277. '•SS
27.691
277.912
27,9''9
28.173
7.006
7.023
7,008
20,655
20.897
21.135
23,261*
22,901*
27U,7W
22,b01
Apr..
Ma7..
June.
272.711
271. WtO
268,111
28,2bl
28,520
29.121
7.007
7.009
6.759
21,22U
21,Ugl
22.332
July.
*"«••
Sept.
267.039
266.359
26U,217
29,703
30,051*
6,627
6.575
30.369
6,1(80
19U3.
19UU.
19>iS.
'*.775
29.51*5
31.730
33.115
37.982
S.
OoTemment
agencies and
trust funds and
Tederal Eeserra
Banks
Private
inve store
2/
Public
Public
Puljlle
maj^etable
nonmarketable
Issoee
1.188
1.556
2,151
3,166
28.835
27.989
29.579
29.950
33.H28
i(,665
'1.853
U,302
U,528
5.'»50
5.161*
5.1*98
5.212
6,085
lll»,ll*l
130.880
U.5l(9
l*,092
1.516
84.91*8
165.725
209.630
215.206
6.360
S!8i*5
56.209
56.1U3
58,988
7.1'»9
'*.55i*
13.507
2.6110
IU.899
a. 792
23.783
153.1*21
159,061*
U.262
3.738
1.186
68
150
1109
167
153.375
155. 5'«
167.505
56,01*3
56.998
56.886
U97
512
226,501
227.059
223.975
169. 363
169,881*
57.138
57.176
56.520
506
U99
22,732
22,932
23.783
221,718
219,988
215,206
165,31(0
163.51*6
56,378
1*92
56,1*1(2
500
159. 06U
56,11*3
23,0115
23,Ult3
23.633
213,701*
23.9116
23.85''
21*. 01*9
212.359
209.799
157.336
155.829
153,809
56.368
56.530
55.990
208.1(89 p
152,1*1(11
Oct..
(1) Dally Ireaeury Statement for total amounts ontetandlnf:
(2) reportt of aeeDClea and truet funds for teenrlties held by
U. S. OOTernment agencies and trUBt funds; and (3) Federal
Reserve System for securities held by Federal Reserve Banks.
Preliminary.
Less than $500 thousand.
30,023
United States 1/
mar)cetabl<
Total
public
3.251
U.H66
5.605
6.803
8,225
35.800
36.576
39.886
fe.376
193719 J8.
193919MO.
19IH.
Total
amount
jnmatured
outstanding
1/
aiQount
"bj
Distribution by classes of holders
390
Ib7,t55
p
501
326
31*7
56,01(6 p
Excludes obligations held by the Treasury and matured securities.
The total amount of securities held by private investors Is calculated by deducting from the total amount of securities outstanding,
the securities held by U. S. Oovemment agencies and trust funds
and by Federal Heservs Banks.
Stated as of close of previous month.
ks
Treasury Bulletin
Estimated Ownership of Interest -Bearing Securities Issued or Guaranteed
by the United States Government
(Par Tslues 1/ - In billions of dollara)
Held by banks
Total
amount
outstanding
banks
Indlvldualfl
It/
Mutual
savings
Other
corporatlo
aesoclatlo
State and
local
govenunentB
6/
5/
''7.9
50.
iql*l-June
D«c ember.
igUS-June...
Deceoibe
19lt3-Hftrch...
Septembe
December
October.
tfoTember.
December.
19^6-Jauuary.
February.
March
April.
May...
Jiine.
July.
.
.
Septembe
p...
Govermnent
agencies anc
truBt funds
December 1946
1^9
Treasury Survey of Ownership of Securities Issued by the United States
Govermient and by Federal Agencies, September 30, 1946
The tables In Section I present summary data as of
September 30, l^k6 from the Treasury Survey of Ownership of Securities Issued or Ouaranteed by the United
The banks and Insurance companies covered In
States.
the survey account for approximately 95 percent of the
Section
I
-
amount of such securities owned by all banks and Insurance companies In the United States.
Section II presents summary data on the ownership
of Federal Land Bank bonds, Federal Intermediate Credit
Bank debentures and Federal Home Loan Bank debentures.
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary:
All Interest-Bearing Securities
(In mllllonB of dollars)
Classification
Treasury Bulletin
50
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, September 30, 194i5 - (Continued!
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PART A
-
-
-
(Continued)
(Continued)
ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES,
AND BY TAX STATUS-( Continued)
inveetorB covered in Treasury Sutt^
Held
^
Insurance companle
Banks 1/
Total
amount
outstanding
Claseiflcatlo
3^
7.355
commercial
banks
stock
2/
banks
Percentage distribution by cla
Tq.
of security
Securities issued by United States
Treasury bills
Certificates of indebtedness
Trsasury notes
Treasury bonds - bank rsstricted U/
Treasury bonds - bank eligible
Postal savings and other bonds
Ouaranteed by United States 5/
6li2
5U0
mutual
savings
banks
fire,
casualty,
and m&rlnf
All U. S.
Gove nun en t
agencli
trust funds,
and Federal
Reserve
Banks
of secxirltie
;
1-3
20.2
12.1
26.9
37.8
1.9
5-5
6.8
U2.I
2.3
2.2
68.1
6U.5
I15.2
27.
1.9
2.1
76.7
19.1
6.5
6.0
38.1
U9.U
.2
Total
Due or first becoming callable
Within
1
year
33.2
I to 5 years
9 to 10 ysars
10 to 15 years
15 to 20 years
21.
Over 20 yeare
Various (Federal HousiBg Administration
debentures )
15-7
6.1
11.5
12.1
29-7
39.2
2U.U
2.9
U.lt
15.5
26.0
17.6
.2
l't.7
3-5
IU.6
U.2
8.U
18.6
U.O
6.8
10.8
21.0
2U.U
23-3
'U.8
Ult.9
28.6
10.9
22.7
22.1
22.9
8.9
12.5
75.6
t.5
2.6
.1
Total
TaJt
status:
6/
Wholly exempt from Federal Income taxes
Partially exempt from federal Income taxee ]J
Subject to federal income taxes ]J
18.7
8I.3
99-2
Total
100.0
Percentage distribution by
rltt
Tzpe
rltles Issued by United Statee
Treasury bills
Certifieatee of indebtedness
Treasury notss
Treaeury bonde - bank restricted U/.
Treaeury bonds - bank sligible
Postal savings and other bonds
Ouaranteed by United Statee
100.0
100.0
100.0
100.0
100.0
100.0
Total.
100.0
^
100.
or firet becoming callable
Within 1 year
1 to 3 years
5 to 10 yeara
10 to 15 years
1^ to 20 ysars
Over 20 years
Various (Federal Bousing Administratio
debentures)
status:
6/
Wholly sxsapt from Federal income taxes
Partially exeapt from Federal income taxes
Subject to Federal income taxes 2/
Total
100.0
]_/
U2.1
65.0
26.9
grm^a
of investors
U.6
95.3
51
December 1946
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, Septemlier 30, 1946 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
FART B
-
DISTRIBUTION OF OWNERSHIP
F0;(
-
(Continued!
(Continued)
EACH IHSUE OUTSTANCING
(Par values - in millions of dollars)
(Tax status 6/ is shown in parentheses)
-
Treasury Bulletin
52
Treasury Survey of Ownership of Securities Issued by the United States
Goveminent and by Federal Agencies, September 30, 1946 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
-
(Continued)
Table 2.- Public Marketable Interest-Bearing Securities - (Continued)
PART B
-
DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANDINO-C Continued)
(Par values - In ndlliona of dollars)
Issue
(Tai status 6/ Is shown In parentheses)
)
December 1946
53
Treasury Survey of Ovmership of Securities Issued by the United States
Government and by Federal Agencies, September 30, 1946 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Govemment
-
(Continued)
Table 3.- Public Non-Marketable Interest-Bearing Securities
(Par values - In millions of dollars)
Held hy Investors covered In Treasury Survey
Banks 2/
Total
amount
outstanding
All O.
ttanks
3/
(Tax atatus 1/ is shown In parentheses)
United States savlnca bonds
Series B-D
Series I
S»r1-. r
Series a
Ijanke
S.
GoTernaent
agencies and
trust funds,
and Federal
Reserve
Banks
Held by
all other
Investors
^
(taxable)
(taxable)
Treasury saviors notes
Depositary bonds
3.307
30.279
2.932
13,026
3.116
30.278
2.658
12.031
''9.5'»5
(6/
(taxable)
(taxable)
(taxable)
Total United States savings bonds
eed securities
6U^ fire,
casnalty,
emd marin<
5U0
Dutual
savlogg
7.355
commercial
U«.08lt
385
90
362
56.373
1.326
1.096
5.97'»
23
_[/
modlty Credit Corpor
-Biarketable securltle
11
hj
Less than $^00 thousand.
federal securities fall into three broad groups with respect to tapes Itlon of Federal Incoae taxes on Incoae derived therefroB.
"Wholly" tax-exempt securities are exenpt fron both the norsial and
surtax rates.
"Partially" tax-exempt securities are exeapt from
the normal rates except that in the case of partially tax-exempt
Treasury and savings bonds, interest derived from $5 thousand of
principal amount ovnfld by any one holder is also exempt from the
"Taxable" securities are subject to both normal and
surtax rates.
surtax rates.
Securities held in trust departments are excltided.
Includes trust companies.
Section II
2/
i/
2UU
.U2_
SU.Qgl
This column include
companies which are
note to this sectio
in« boDdi. Series B-D, I. and T are ebovn at curUnited States
Thejr were reported at saturlty value by the
if.
rent redempti
:oapanie8 covered Id the Treasury Survey but bave
banks and ins
adjusted to
•ent redeaptlon values for use In this ttateaent.
Series B-D saviors boods sold prior to March 1, I9U1 are partially
tax-exenpt; those sold od and after that date are taxable.
Guaranteed securities held by the Treasury are not Included.
C.C.C. demand obligations in the oaount of $3^7 Billion held by
all coraerclaX banks are shovn only In total amount outstaodln^.
I
Interest-Bearing Securities Issued by Federal Agencies
But not Guaranteed by the United States
Held by investors covered in Treasury Survey
Insurance companie
Banks 2/
(Tax status 1/ is shown In parentheses)
Total
amount
outstanding
7.355
conuaerclal
banks
rederal Land Bank bondi
191(8-50
1-1/2* October
1-1/Ujt Msy
1950-52
1951-53
1-1/2* January
2-1/U* February
1953-55
(taxable)
( taxable)
(taxabla)
(taxable)
3t
stock
savings
banks
5liO
311
mutual
savings
banks
life
Insurance
companies
6U2 fire,
casualty,
and marine
agencies and
trust funds,
and Federal
Held by
all other
investors
176
213
Total Federal land bank bonds
26s
90
Total Interest-bearine securities issued by
Federal agencies but not guaranteed by the
United States
*
y
Less than $500 thousand.
The income from "Wholly" tax-exempt
iaposition of both the normal and su
the Income from "Taxable" securities
of both the normal and surtax Fs' oral Income tax rate
10
3/
T/
£/
Securities held In trust departnents are excluded.
Includes trust companies.
This column Includes securities held by those banks and Insurance
See headcompanies which are not covered In the Treasury Survey.
note to this section.
5*^
Treasury Bulletin
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, September 30, 1946 - (Continuedl
Quarterly Data on Ownership by Commercial Banks, Classified by Membership
In Federal Reserve System
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 1.- Sumnary:
All Interest-Bearing Securities
(In millions of dollare)
Clasiifioatiott
December 1946
55
Treasury Survey of Omiershlp of Securities Issued by the United States
Govermnent and by Federal Agencies, Septenber 30, 1046 - (Continued)
Quarterly Data on CXmershlp by Coninerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
-
Securities Issued or (luaranteed by the United States Government - (Continued)
Table 2.- Public Marketable Interest-Bearing Securities - (Continued)
PART A
-
ANALYSIS OF OWNERSHIP BI TYPES OF SECURITY, BY CALL CLASSES
AND BY TAX 8TATUB-( Continued)
MeBbsr ooHiarolal banlct
Total
7.355
comaarclal
Claaslflcatlo
Total
oenbar
ooamerelal
banln
Cemtral Beaervo Olty baalca
Total
U9 Central
BeBarre City
banlcs
Peroenta^a dletribution by claesae of •ecnrltlee
typat of aacorlty:
Saeoritlaa IttTial by Onltad Stataa
Traatory bllli
Cartlflcataa of Indabtadnaaa
Traaaury boadi - bank raatrlotad
Traaaury bondi - bank allclbla
Poital laTlB^i and other boado
Ooarantaad by United Stataa 2/
1-3
,
,
2/.
,
'
Total
1
claiaaa;
Dae or firat beeoalnc oallabla
VlthlB 1 year
1 to 5 yaara
^ to 10 yeara
10 to 13 yeara
15 to 20 yeara
Over 20 yaara
Tarloua (Tadaral Hoaalnc Adalalatratloa dabaatoraa)
Total
Wholly axaapt froa federal Iseoaa taxea..
Partially •zaq)t froa Federal Incoaa tazaa
Subject te Pedaral Incoaa tana
^
^
2.5»3
351
V
Bev Tork 01 ty
bank a
Raaervo City
bauka
»t.372
country
banka
noBB^bar
couMrclal
banka
Treasury Bulletin
56
Treasury Survey of Omershlp of Securities Issued by the United States
Govemnent and by Federal Agencies, September 30, 1046 - (Continued)
Quarterly Data on Ownership by Comnerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PART B
-
-
(Continued)
DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANCIMO
(Par Tslnaa - In Bllllona of dollars)
(Tax statua kj is ataown in parenthoBeB)
-
(Continued)
December 1946
57
Treasury Survey of Omershlp of Securities Issued by the United States
Govemnent and by Federal Agencies, September 30, 1946 - (Continued)
Quarterly Data on Ownership by Conmerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
- Securities Issued or (luaranteed
by the United States Qovetvmeat - (Continued)
Table 2.- Public Marketable Interest-Bearing Securities
-
(Continued)
PART B - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTBTANDIN(>-( Continued)
(Par TBlnaa - In allUoBa of tellara)
laeua
(Taz atatoa U/ la afaovn In paranthaaaa)
Treasury Bulletin
58
Treasury Survey of Orniershlp of Securities Issued by the United States
Government and by Federal Agencies, September 30, 1046 - (Continued)
Quarterly Data on Otmershlp by Comniercial Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Public Non-Marketable Interest -Bearing Securities
(Far Taluee 1/ - in mllllonB of dollars)
IsBoa
(Tax statna 2/ Is shovn in parentheses)
-
(Continued)
December 1946
PRICES
59
AND
YIELDS
OF
GOVERNMENT
SECURITIES
(Including securities issued by Federal agencies)
60
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities IsBued by the
United States Government and by Federal Agencies
October 31, 1946
Table I.- Securities Issued or Guaranteed by the United States Government
PART A
-
TAXABLE BONDS, NOTES, AND CERTIFICATES
1/
I
December 1946
61
Over-the-Coimter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
October 31, 1946 - (Continued
Table I.- Securities Issued or Guaranteed by the United States Government 1^- (Continued)
PART B - TAXABLE TBEASURi BILLS
Amoiint
outstanding
(Millions)
62
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
October 31, 1946 - (Continued)
Table II.- Securities Issued by Federal Agencies but not Guaranteed by the United States
Amount
ontBtandln^
(Hilllone)
63
December 1946
YIELDS OF TREASURY SECURITIES
Based on Mean
of Closing Bid
OCT
PERCEN
48
50
•52
•54
56
58
31,
and Asked Quotations
60
62
64
1946
Treasury Bulletin
61^
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent per anman)
Partially Tazalile
tax-exampt Treasury
Iressuiy l3oadB
1/
bonds
y
Partially
HlgllTaxable
tax-exen^t
grade
Treaei]i7
Treaeuiy
corporate
bonds 1/
bonds 1/
bonds 2/
aei>srade
oozporate
bonds 2/
Partially
Treasury
bonds 1/
Taxable
Treasury
bonds 1/
Monthly series 2/
193S-Jan.
rsb.
Mar.
2.69
2.68
2.67
3-17
3-15
3.15
i^r.,
May.c
June.
2.66
2.56
2.58
3.25
July
S.5S
2.57
2.63
3.12
3.10
3.12
2.56
3.06
3.0U
3.02
Aug..
Sept.
Oct.
Hot..
Dec..
1939-Jan.
2.57
2.71
2.73
19l(l(-Jan...
2.07
2.0U
Hay..
2.76
2.75
2.T0
1.98
2.01
2.02
Jtaly.
XoE..
Sept.
1.98
1.95
2.06
2.3U
2.31*
2.VJ
2.10
2.17
2.10
2.I18
ipr...
May...
Jane..
I.9U
2.1(8
1.91*
2.1(9
2.1*9
July.,
iag...
Sept..
1.89
1.90
1.93
2. 1(9
2.61
2.57
2.63
Oct...
BoT. ..
Dec...
1.93
1.90
1.87
2. '(8
1.81
1.75
2.1(1*
LTD
2.110
1.68
1.68
1.63
2.39
2.39
2.35
1.63
1.68
1.68
2.3I*
1.62
1.56
2.35
2.33
2.33
2.irt
Sept.
Oct..
.
Dec..
19l|0-Jan.
ipr.
May..
2.07
2.06
2.OU
2.U5
2.U3
fM
ipl...
May...
2.75
JVlne.
2.76
2.79
3.29
July,
lug..
Sept.
2.OU
2.06
2.08
2.U6
2.7U
Jtily.
2.1*7
2.1(6
2-73
2.73
Sept..
2.60
2.U6
2.35
July.
2.92
2.86
2.78
2.23
2.27
2.67
Jteie.
2.96
2.90
2.87
2.38
2.27
2.22
Hay..
3.1'»
2.09
2.10
2.13
2.U5
2.U7
2.72
2.71
2.72
Oct...
Sot...
Dec...
2.U
2.U6
2.11
2.12
2.1(6
19U2-Jan.
2.93
2.86
2.S1
2.79
2.77
2.30
2.32
7eb..
Mar..
19U3-Jan.
Jpr..
May.
June.
2.26
2.7U
2.87
2.93
Way..
B'.io
July.
2.30
2.31
2.25
2.85
2.80
2.71
July.
Aug..
S4>t.
2.Z1
2.09
2.01
2.65
2.59
Stpt.
Oct..
Hot..
2.1t8
2.1(6
2.1*9
2.1(8
2M
7-
2.17
Z.Uk
9-
2.15
2.16
2.16
2.1*2
16.
2330.
I9l(6-July
2.1(3
5.
12.
1926.
s.m
Aug.
2.1(0
.
Peb .
Har...
.
2.1(8
2.1(7
2.1(8
2.1(8
2.38
2.36
2.37
P»b...
Mar...
2.21
2.12
2.09
19l(6-Jan.
.
2.1(6
2.1*5
2.68
2.65
2.63
Apr...
May...
June
2.16
2.1*5
2.1*6
2.1(8
2.58
2.57
2.59
July...
Angnst.
Sept..
2.18
2.23
2.28
1.90
I.9U
1.95
2.18
2.20
2.17
2.19
2.17
2.1(0
2.70
2.68
2.70
19l(5-Jan.
2.1(8
1.91
1.92
1.90
11.
18.
2U.
31-
k.
2.76
2.80
2.80
1.91
2.1(9
2.05
1.96
1.91
2.1(8
2.1(8
2.S0
2.1(9
2.63
2.1(8
Weakly series - Saturday figures 5/
June
2.1*9
Pab...
Mar...
2!U3
^r..
19l(&^ley
1.95
1.93
1.91
2.66
2.01
3-15
2.5U
Peb..
Mar.,
ITOT.
3.1'*
2.12
2.22
2.12
2.
2.1H
2.fil
.
,
2.08
2.19
2.26
December 1946
So:
O
z
o
m
LJ
I-
<
q:
o
Q.
(r
o
o
o
z
<
>q:
CO ^
uj
S
or
^
I
u.
o
O)
Q
_l
UJ
>Ul
o
<
UJ
65
—
—
—
—
—
csiftiftjcjcsiioroioioio^
Treasury Bulletin
66
INTERNAL
REVENUE
STATISTICS
.
.
December 1946
67
Summary of Internal Revenue Collections
^
(In thousands of dollars)
Total
receipts
from Inter-
(Ibily
Treasury
Statement)
Income and profits taxes
Adjustment
to Daily
Treasury
Statement
IndlTldual
2/
profits
191*1
7,361.675
-37.168
30,1*70
-1.133
-19.637
•HO.lUl
191*2
12.993.118
-36,797
191*3
22,l't3.969
-221*. 755
191*1*
U1.68U,9g7
iguj
1*3.902.002
"w, 310, 333
1,565.1*77
101,661*
-361.585
19l»5-Septe«iber
U,gl*b,5g5
725. 0U3
1*.
October.
November
December.
2.31*0.21*0
2,383.156
3.9WS.U37
1937
193s
1939
1*.
19110
5.303,13'*
597,11*0
5.67l*.318
5,161,231
19116
.
.
191*6-jBnuary.
February
March
5.322.771
7. 351. 53'*
3.UTl,12l*
1.1*17,655
13.029.915
8,006,881*
l6.?<)8,888
3,262,800
6,629.93?
18. 261. 005
63'*.
5.6U3.8I18
5,162.361*
22. 368.721*
May
June
July
.
982,017
1,056.909
1,299,932
1,122,561
1,120.582
2.016,297
31.178
U. 687. 1*62
56.621
9,5811,715
.
September.
Plecal year
or month
1*2,786
33,71*
27.010
37,172
81*. 21*1
265.71*5
71*2,660
71*0,1*29
833.521
925.856
1.185.362
l.U98,705
1.738.372
1.779.177
1,700,828
taxes
Ral Iroad
Old-age
Incur ance
5/
retire.ent
Buraace 6/
207.339
502. 918
529.836
605.350
687.328
58.119
90,267
101.167
106.123
100.658
11*9,676
109,1*27
122,01*8
895.336
119.^17
170.1*09
X8
186.1*89
178.71*5
211.151
265,011
286,758
?8U.258
1.131,51*6
156.
1.290.025
1.307.931
1.237.825
183.337
287
1_V.871
33,027,802
35,061,526
31.258,138
11*. 629,31*11
1^7.1*52
1*3,800,338
1*0,671,919
I9,03i».3i3
15.883,235
163,978
18. 701*, 536
12,1*62.1*37
91 ,165
121, 51*2
3,552.851
1,162,276
2,379.553
11 ,022
37,339
3.352
619
33.368
-1*98.887
2,839,127
2.030,951
2.70l*,058
3.292.161
5,978
6,lU9
12,817
96.706
197.920
".655
3.595
9.990
818
35.'*33
656.276
1,856,01*1
2,7'tl,56l
636.181
383.325
2.1U2.631
102,270
-320.902
1,388,792
1,U66,568
586,112
6,156
3.672
8,783
.gl*9
299,1110
61*, 565
183.229
7.012
28.172
98.737
7.920
5.295
3.332
15,618
98,277
269,869
56,673
93.532
238.062
3.770
3.268
10,530
1,213
521.
31*6,082
UU
U.095
10,052
115,696
280.853
57.335
109.960
239.705
5.523
3.269
8,675
1,669,891
3'«
1*0. 119.
510
-1*73.
3.9211.731
102, 106
3. 189. 1*93
-I1I8.2U8
It,
3,206,271*
2.31*6,821
2,839,01*9
836.516
363.553
5,023.673
U, 320, 110
2,036.735
2.2711.592
-105.735
-266.165
2,1*15,833
1.703,072
1,662,967
2,836,577
1.216.51*6
1|81,232
239. OW*
578.679
2,573,957
3,501,813
2,250,898
.
1,028,831*
559.269
2.310.098
2,307,793
1*, 080, 1*92
.
1,091.71*1
1,286,312
3.1*51,381*
.
April
Au^st
308
2,179,828
2,629,030
2,185, UU
2.129,609
1*.
y
3.683.858
5,582,963
.
Ekiq)loyiDent
Total
employment
-330,568
2,581.1*65
2, 1*91*, 1*59
-21*1,1*31
'*,291,209
680.211*
2.735.890
3,610.995
1.757.352
1.765.6U9
2,907,267
1.U20.591
1,083,189
1,232,11*3
1.H15.371
1.227,325
1.737.770
"».196
263,31*3
39,012
92,718
61
1,621*
1.969
33.739
2,698
17.175
''9.633
l.'t77
21.277
1*9,690
2.1*67
32.676
50,188
Treasury Bulletin
6g
COLLECTIONS OF INTERNAL REVENUE
1932
Individual
33
34
Income Taxes
35
36
37
38
39
'40
41
42
'43
44
45
46
47
Corporation Income
.and Excess Profits Taxes:!:
lull
1932
1932
Hull
34
36
38
i
December 1946
69
Detailed Analysis of Internal Revenue Collections^/
(In thoueaade of dollars)
Plret
3
months
September
nacal
19U6
191*5
yoar
19U7
and profits tajcos;
Individual:
Withheld by employers:
Current Tax Payment Act of I9U3 2/
Revenue Act of 19U2
T
ime
10, 263. lug
Current J/
Back
J,567.1U7
202,9U7
5U
2,225,767
172
29.1'80
169
377
1.5'16.39't
1116.571
102,506
1,111.706
I8.806
18, 701*, 536
3,87U,839
1,162,276
U. 1*21,682
3.901,917
738,032
1.003.572
925,160
100,566
768.229
26,962
656. 083
122,331*
7,822.1188
2,21*1.688
1,511.360
1.58U,363
977.78'*
12,ll62,U37
3.367.59t
2.537.086
2.379.553
1,669,891
U5g,03U
Excess profits taxes (Second Revenue Act of I9U0.
as amended)
Total corporation taxes
Miscellaneous profits taxes:
Declared valxie
Tlnaon Act..,
Unjust enrichment
!•/
8,1* TO.
1"»3.T9«
91.165
36.02U
35
23.365
35.061.526
Employment taxes
Social Security taxes:
Old-a^ Insurance
Unemployment insurance fa/..
Total Social Security taxes
^
1.307.931
186. igq
1.237.825
l,ll9l4,'l2C
'78,7'»5
1,1*16.570
2gU,758
_J/
28 11-258
351.289
1U.S03
365.793
355.188
13.367
352.121
320.602
528
629.601
11*8.1 51*
199.691
l,2gU.6l3
11*3 .080
1.603.1*97
32.5'»9
Ul,880
2.122
2.591*
115.269
58.250
8.625
35.201
678
12.722
985
16.909
8.061
25
U.l*86
5.632
25.029
356.777
6
886
11,213
8l*0
5
203
638 ,"682
3.130
650.821*
2.687
30U
186,893
3,106
1,71*3
2.526.162
lll,38>*
8.9)9
11.738
12U. 1*1*3
11*2,776
3.073
>',808
1*66
5,611
70
172
208
262
1
195
66
319
178.917
2.130
856
66
58.172
95
58,908
121
595."*52
701,232
198.I197
226.205
9.02U
II.U3U
3,226
3.830
17
1.072.799
7..
'73
it9,57''
Total tobacco taxes
,212
3-5't3
7.7M
.,...
230
"6ir
51
8.308
695
836.058
.
1*1*1*.
6.71*2
1.6UU
3.287
2,309,8614
Total alcoholic bevera^ taxes
50,188
Jl3_
172.957
1(6,918
Alcoholic beverage taxes:
Distilled spirits (imported, excise)
Distilled spirits (domestic, excise)
Distilled spirits rectification tax
Wines, cordials, etc. (Imported, excise)
Wines, coroials, etc. (domestic, excise)
Brandy used for fortlfyin/r sweet wines (repealed
as of July 1. I9I1O)
Dealers in distilled spirits: rectifiers; manufacturers of stills (special taxes)
Stamps for distilled spirits Intended for export.
Case stamps for distilled spirits bottled In bond
Container stamps
rioor taxes
Fermented malt liquors
Brewers; dealers in malt liquors (special taxes).
5.523
1.62U
7.1U7
33.368
596.137
tax
3.352
1*53.881*
371.999
Estate tax
2,907.267
3.971
71.168
1*36,961
Miscellaneous Interr
Capital stock tax
I8.3I13
6,1*30.268
Total employment taxes
Tobacco taxes:
Cigars (largo)
Cigars (small )
Cigarettes (large). .'
.Cigarettes (small )
Snuff
Tobacco (chewing and snokinfi)
Cigarette papers and tubes
Leaf dealer penalties, etc
Cigarette and dgar floor taxes
1,162.805
3U.87I
91.130
l't3,978
Total miscellaneous profits taxes
Total Income and profits taxes
01 ft
2.71*1.901
I9.03it,3l3
Total individual Income tales
CorporationIncome taxes:
Current J/
Back
Railroad retirement
9,857,1166
123
802
1*1.961
1,390
1.757
16U
268,292
1,862
12,708
799
932.1'<5
1,165.519
5
292,868
28U,li07
1.652
10.112
92.263
608
'».351
5
Ul
9l».029
559
3.3'»1
280
101. 831*
Stamp taxes;
Bonds, issues of capital stock, deeds of convsy3.703
'17.393
Transfers of ctpltal stock and similar Interest
sales
Playing cards
Silver bullion sales or transfers
Total stamp taxes
2U,852
7,U93
65,528
30.369
9.766
IU9
87.676
(Continued on following page)
5.937
2,105
2_
5.592
2.395
280
a. 37'*
1.601
871
1.958
6,631
Treasury Bulletin
70
Detailed Analysis of Internal tevenue Collections 1/- (Continued)
(In thousands of dollars)
Plrst 3 months
September
191*5
Miscellaneous internal revenue (continued):
Manufacturers' and retailers' excise taxes:
Lubricating oils
Sasoline
Tires and tubes
Floor taxes on tires and tubes
Automobile trucks and buses
Other antoiBobilae and motoroTcles
Parts and accessories for automobiles
Sleetrlcal anar^
Zlectrlc, gas. and oil ^pllances
Ileetrlo light bulbs and tubes
Electric signs (repealed as of ll/l/Us)
Badle sets, phonographs, components, etc
Phonograph raoords
Musloal instruments
Mechanical refrigerators, alr-conditloners. etc..
Hatches
?loor taxes on matches
Business and store machines
?ars * retailers' ezolse
Jeweliy - retailers' excise
Luggage - retailers' excise (effectlTe U/l/¥l)...
Luggage - manufacturers' excise (suspended as of
U/l/Wl)
Optical equipment (repealed as of 11/1/U2)
Photographic apparatus
Bobber articles (repealed as of ll/l/Us)
Sporting goods
Toilet preparations - retailers' excise
Washing machines (repealed as of 11/1/1^2)
Tlrearms, shells and cartridges
Pistols and revolver a
Repealed taxes not listed above
92.865
'105.563
75.257
30.SPt7
2.558
1*9.1010
57.OOU
12.060
11.035
55
71*.
602
1*05.695
118. 072
19
37.1W*
25.893
6g.871
59,U2
25.1*92
,
.
Total mlBcellaneone taxes
Total miscellaneous internal revenue
Total internal revenue collections
Adjustment to
I^ly Treasury
12,251*
2.163
16.958
12.556
3.596
2,890
108
920
508
302
22,051*
ll6,l*9U
1*1,831*
10,636
35.5li6
19.770
15.091
5.952
38.232
6.356
1.979
599
1*.572
3.719
8S5
1.560
98
6,890
1*0,675
13.771*
3.795
10.981*
5.9I1U
1.985
U,565
966
2.015
927
1.637
17.781
56
13.385
3.902
2.839
9.229
7. 81*8
201*
2,1*1*7
9.3%
10,21*7
I.52I*
813
790
15.792
91.706
3.117
9.890
81*5
223.31*2
81,1*23
1*3,208
6,106
12.051
52.203
20.559
'•,753
k
10.120
79,1*18
1«U.220
73.^1
6
282
607
3,612
10.829
3.889
5.2^3
15.165
5,651
2,1*00
17.007
2.835
2U
U29
5.018
1,089
6,551
3
125
7.878
3.911*
22.086
95.571*
1
5.232
61
25
35
1
891
585
2,271
52
16.1*73
208.018
133.569
16,286
231*. 182
221,088
128.701
336
7,311
300,589
56.877
lit, 160
U.I60
19.100
23'*. 393
2JU.
52.299
6U.I59
31.1)81
1*0,923
I.82U
^.798
60,270
53.916
113.895
170
1.885
79.756
I6.U56
3^*3.191
72.077
18.899
U.Oll
17.092
'*.232
2.815
I2.O9U
58
1*1*
37
5.503
756
6,208
16
U.932
1.583
192
1.289
69U
6.268
6
180
1.1(89.925
68!i*eo
63,183
232
6,769
ll*,025
7,0gl*
12,71*1
1,201
I6.61U
IU.265
1,198
23.695
19.173
21,2Ul
2, 1122
8
1,959
100,621
551
25.106
17,721*
U,1|«U
5.799
3.228
15.079
i.iou
21*8
762
22
1.919
268
196
16
2.1*28
556
32,756
5,803
1.553
295
1.096
1*33
18
3
171
1.1*30.1*28
3
6
U.361
13
56,732
226,750
(-207)
1*32,210
73 ,294
115.960
182
7,857
870
581*
3
316.53'*
220, la
1
i«.l*7l«
1,901
21.181*
l(.2lt8
86.615
U
3.132
5
12
11,821*
15
IS
73
19,288
228
Total manufacturers' and retailers' excise taxes.
Miscellaneous taxes:
Bituminous Ooal ict of 1937 (expired g/a3/U3)...
Sugar Act of 1937
Telephone, telegr^h, radio, and cable, leased
wl res etc
Local telephone service
Transportation of oil by pipe line
Transportation of persons, seate, berths
Transportation of propei-ty (effective 12/1/U2)
Use of motor vehicles (repealed as of 6/TO/U6)..
Use of boats (repealed as of 6/3O/U6)
Leases of safe-deposit boxes
Admissions to theatere, concerts, etc
Admissions to cabarets, roof gardens, etc
Club dues and initiation fees
Bowling alleys, pool tables, etc
Coin operated devices
Adulterated and processed or renovated butter.
mixed flour 8/ and filled cheese
Oleomargarine, including special taxes
Harcotics. Including marihuana and special taxes
Coconut and other vegetable oils processed
national 7ireanis Act
All other, including repealed taxee not listed
above
25,809
110.556
20.615
'*52.659
I106.063
127,927
2.11*6.1105
6,959.63^*
2,0W*.19g
61*6,393
i*,ia,5i*2
lo.29l*,U5g
3,610,995
1*3.800.338
1*0,671,919
-361.585
-72.52'*
+108,215
+725.o'»3
680,211*
1*3.902.002
'10.310.333
10.221,931*
9,036,566
U,**6,585
i*.29l.209
Statoient
Total receipts from intenal rervenuo (ttdly Treasury
Stateoient;
Source:
•
1/
2/
E^ly Treasury State(l) Total receipts from internal revenue*
Reports of colaentst (2) Detailed collections by type of tax:
lections made by collectors of internal revenue.
lass than $900.
Xxeludes collections for credit to certain trust accounts for
territories and insular possessions, etc.
ahovn
Collections \mder the Current Tax Payment Act of 19l*3
in this table consist of those for which returns have been filed
with the Collector ef Internal Revenue; receipts under this act
as shown in Sally Treasury State«ents consist of withholding
taxes deposited in Oovemment depositaries In addition to paymants accoii^anying returns filed with the Collector of Internal
Revenue.
^
*/
5/
6/
7/
^
Current collections consist In general of taxes paid within twelve
months after the close of the taxable year for which the return
was filed.
Current individual Income tax collections for the fiscal year 191*9
Include peynents en unfcrglven portion of 191*2 tax. due March 19.
191*5. of $308,605 thousand for the period. January 1, 19l*5 through
April 30, 191*5.
Represents eollections under the Federal Insurance Contributions Ac'
Represents collections undsr the Federal Unemployment Tax Act.
Bepreeants oollectlons under the Carriers' T ari n g Act of 1937.
Tax imposed upon the manufacture and sale of, and the ecci^ational
tax on, mixed flour repealed as of Bovenber 1, 191*2.
7i
December 1946
MONETARY
STATISTICS
Treasury Bulletin
72
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
^d
of calendar
year or month
Sold eertlfloatea 1/
11.257.6
12,760.0
ll*,5U.2
1936
1937
1938
1939
8.959.6
9.212.3
11,872.8
15.278.6
i7.6U3.lt
21,99'«.5
19112
igiti
WW
20,56U.8
20,611.9
19,821.0
2o,ae.8
19U1
19.825.'*
22.736-1
22,726.3
21,937.8
igiio
18,1*97.1*
Oold reeerre
agaisat U. S.
notes, etc. 2/
Eichan^e
Statilllzatlon
?and 2/
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1,800.0
l.SOO.C
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1.800.0
1,800.0
1,800.0
156.0
156.0
156.0
1.800.0
1,800.0
1,800.0
11*9.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
165.9
176.5
171*.!*
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1U7.7
1U3.3
160.6
31*1.9
1,591.6
6g2.U
i«8.9
213.2
215.3
158.
160.7
165.1*
19lt.8
20,061*.9
17,91'*.l
19U5-October.
SoTeab.r.
December.
20.035.9
20,029.7
17,930.8
17,921.0
20,061t.9
17.91i».l
191*6 -January...
20,156.0
20,232.2
20.256.1
18, 031*.
April
Hay
Jvae
20,250.9
20,21*1.9
18,11*7.2
18,11*2.5
20,269.9
18,153-3
July
August....
Sspteabar.
20,266.7
20,280.0
20.305.3
18,11*1*. 8
156.0
156.0
156.0
1,800.0
1.800.0
1,800.0
155-1
176.5
20U.5
October p.
20,1*02.3
18,278.1
156.0
1,800.0
168.2
19115
.
February.
March
Soureet
p
If
18,099.7
18,125-7
18,155.6
18,11*7.1*
Dally Treasury Stateaeat and Clreulatlon Stateaeat of United States
Prellalnary.
CoBprlees (1) gold certificates held by the public and in Federal
Reserre Banks; and (2) gold certificate credits la (a) the Sold Cer-
2/
2/
152.6
191*.
8
tificate Fund - Board of Ooreroors, Federal Reserre Systea,
and (b) the Redeaption Fund - Federal Reserre notes.
Reserre against United States notes and Treasury notes of 1890.
Iicludes gold in actlTe portion of exchange Stabilisation Fund.
Treasury Gold Receipts
Monetary Stocks of Gold and Silver
(In millions of dollars at $33 per fine ounce)
(In Billions of dollars)
U
6
. .
.
U
5
December 1946
5
7
7
73
Components of Silver Monetary Stock
(In milllone of dollars)
SllTor held In Treasury
Securing ellver
oertlfleates 1/
SllTer bolllon
1,137s
19U1
503.7
502.7
1,298.2
1,398.1
19I10
1*96.6
191*
19'»5
igU^-Octobor...
SoTembar.
Bnlllon for
recolna«e }J
3-^
3.5
5.3
2.3
1*28.6
U3.U
535.3
616.0
10*.
657.1*
52.5
662.3
628.2
366.9
372.8
3.31*6.8
3.790-2
U, 060.0
63.0
78.8
96.8
117.5
137-5
'•93.5
l*.2l*l*.8
587.3
68l*.7
1*.317.6
1*,207.3
771.6
8U6.7
3,870.6
3.512.8
133.6
831.5
11.7
10.2
228.3
212.9
185.6
135.1*
8110.
137.5
8U6.7
3.565-3
3.552.2
3.512-8
13.1*
157.7
139.1*
138.2
138.7
81*8.6
17.0
17.7
81*8.9
3.508.3
3.508.3
127.1
139.1*
^0.1
3.508.1*
IOS.7
11*0.3
^2.3
3. 508.5
lOlt.5
lUl.S
1U2.7
857.5
865.6
3. 508.
ll*l*.l
3.508.7
3.508.7
3.5O8.7
12.5
10.2
356.6
360.3
358.5
Doc ember.
I9U6- January.
February.
March
1.771.7
1,«1S.5
1,850.8
355.8
355.3
1.909.0
1.909.0
1.909.1
353.
Juiy
Au^ue t . .
Septonber.
1,909.1
1.909.1
1.909.1
3lt9.!»
October
1.909.1
185.6
3t5.7
April
May
.
Source:
p.
llt.S
356.1*
35i*.5
17.0
15.2
13.3
*
1/
101.1
99.1
97.9
11*5.7
1U7.0
871.3
875-5
881.8
96.U
3'»7.9
31*6.5
102.3
11.5
13."
10.8
352.1
550.9
Dally Treasury Stateaent and Circulation State ent of United
States Money,
Preliminary.
Less than $50 thousand.
Valued at $1.29 per ounce.
p
Total silver
at $1.29
per ounce
9absldlaz7
eoln 2/
391*. 1
1*22.1*
1*8.1
ll*.U
1.6U5.7
1,671.6
1.703.9
.
SllTer
dollars 1/
3.5
9.2
l,U76.l
1.516-2
1,520.0
1,520.1
1,703.9
19l»2
Subsidiary
coin 2/
Silver dollars
938 •«
1937
1938
1939
SllTer oateida
TreosoTy
In General Aind
11*7.9
2,806.5
888.5
2/
^
3.5O8.U
Valued at $1.38 per ounce.
Valued at $1.38 per ounce or at $1.29 per ounce according to
whether the bullion is held for recolnage of subsidiary sllr
coins or for recoinage of standard silver dollars.
Silver Production In the United States and Sliver Acquisition by Mints and Assay Offices!/
(In alllioas of oxnoes or dollars)
Silver
production
Silver acquired
Hevly alnad domestic
silver 2/
Hatlonallzed
silver i/
^ mints
and
aes^ offices
Porolgn silver k/
Ounces
63. U
1936
1937
1938
1939
71-3
61.7
63.9
6g-3
I9I1O
191*1
61.1
70.6
61.6
60.7
68.3
1*7-3
271-9
150.3
333-1*
21*1.
108.
355-1*
156.9
120.5
50.9
J12.2
»17.1
1*2.
1*0.1
282.8
139-8
1*8.5
70.5
50.1
191*2
71-1
55-9
1*7-9
31*.
191*3
1*0.8
5-5
191*11
31*3-3
197.8
163.3
199-1
160.6
208.0
99-1*
35-7
29-3
191*5
19lt5-September.
3-9
72.6
1U.3
11*3.1
77-2
62.1
5-5
1*0.0
3-9
2.3
October...
November.
December.
19U6-January...
Tebruary.
March
April
May
June
July
September.
3.0
Annual figures come from the Bureau of the Mint; monthly figures
on U. S. sliver production come from releases of the American
Bureau of Metal Statistics and will not agrse with the annual
figures.
Loss than 50,000 ounces or $50 thousand.
For information on silver production in other countries from 1933
through 191*0 or igUl, see "Treasury Bulletin" for August 191*3.
page 71*.
Acquired at 61*. 61* cents per fine ounce until April 9, 1935; at
71.11 cents per fine ounce from that date until April 23, 1935: at
77.57 cents per fine ounce from April 23. 1935 to December 31. 1937:
at 6U.61* cente per fine ounce from December ;i. 1937 to July 1. 1939:
at 71.11 cents par fine ounce from July 1. 1959 to July 2. 191*6; and
at 90.5 cents per fine ounce since July 2, 1966.
Acquired at 5O.OI cents per fine ounce. Executive Proclamation of
August 9, I93I*. repealed April 28, 1938.
Acquired at various prices averaging approximately 51 cents per
Treasury Bulletin
1^
Seigniorage on Sliver
(
CaamlatiTe from January
Selgplora^
Ind of calendar
year or month
on coins
(silver and
minor)
- ^°
Hew I7 -mined
Newly-nlned
SllTer (Act
silver (Proc.
bullion held
Dec. 21. 1933) Juljr 6, 1939)
June lU. 193U)
18.5
U6.1
69.5
Ue.7
91.
1*8.7
19m
122.2
1*8.7
ig"*!
1911?
182.1
Us.
*5.7
1*8.7
i^i
U8.7
191A
299-6
362-3
IS"*?
1*29.5
U8.7
19U5-October...
November.
December.
U19.&
U2U.3
U8.7
19U6-January.
7ebruary.
March
1*52. l»
1*8.7
U36.0
1*8.7
1*38.2
U8.7
1*8.7
1*8.7
1*8.7
1*8.7
1*8.7
1*8.7
April
Wtl.T
1*8.7
Kay
1*1*6.
U8.7
June
1*53.1
1*57.8
U8.7
li6l*.7
Us.
1*70.7
1*8.7
Au^st
. . .
September.
October.
Source^
36.0
58.0
7U.9
Potential
VatlonallEed
silver
(Proc. of
iog. 9.
Wl)
3'*.
759. "*
3i*-7
87.6
87.5
87.5
87.6
87.6
1*8.3
5s0.it
31*.
63.6
58U.3
65.&
65.5
58U.3
701.6
3U.7
3U-T
3U.7
87.6
87.6
87.6
65.5
65.5
65.5
87.6
87.6
87.6
65.7
65.8
65.8
7i»i*.6
87.6
87.6
799-7
818.9
1,089.0
3't.7
967-3
717-3
333-2
661*.
'il*.7
900.9
llOlt.8
680.9
701.6
3'*.7
917.1*
3'*.7
938.1
377.6
333.2
3". 7
981.3
1.011.1
1.031.8
279.2
2U6.7
22U.7
1,068.9
1,068.9
1.069.0
180.
3''.7
1,069.0
1,069.0
1,069.0
178.8
175.;
173.0
3"*.
1,069.0
771*. 3
11*.
795.0
3". 7
65.8
65.8
65.9
832.1
832.1
832.1
3U.7
y*.7
65.9
65.9
65.9
2/
758.8
950.6
1.055.8
820.
820.7
938-1
581*.
832.1
832.1
832.1
65.9
271*.
3^.7
31*7
530.7
562.7
87.6
87.6
87.6
SllTer lialllon
at cost in
Oeneral TanA 3/
U22.I
508.1
616.0
705.6
3"*.
1157.7
U.2
Total
seignlora^
3U.5
25-7
87-3
87-6
.
Dally Treasury Statement.
These items represent the difference between the cost value and
the monetary value of silver bullion revalued and held to secure
Silver Purchase Act
of June 19.
193U
226.2
302.7
366.7
16.8
1*8.7
July
mllllone of dollars)
eeignlora^ on
Misc. SllTer
(incl. sllTer
1935
1936
1937
1938
1939
.
1335
1,
Sources of sei^llora^ on sllTer bullion revalued 1/
3'*.7
3'».7
31*. 7
7
silver certificates.
The figures in this column are not cumulative: as the
bullion held changes, the potential seigniorage there
1,01*8.2
186.
18lt.9
a
..
.
.
.
.
.
.
December 1946
lb
Money In Circulation
(In allllona of dallari)
Ind of fiacal
7«ax or aonth
Total
aonay to
circulatlo
II
Total
paper son*/
I
Sllrar
cortlfIcatoo
cats
2/
6.UI17
5.93''
6,1*88
7.OU7
VatlQaal
no tee
sotee i/
l*,l69
269
baiik
II
5.92''
6.1*61
1937
193»
1939
Federal
Beeerre
of 1890
1.078
1.230
1.1*51*
281
262
266
i*,llU
i*,l*8U
191*0
7.81*8
7.21*8
1.582
21*8
5.163
191*1
9.612
8.932
1,71'*
300
6,68lt
191*2
19't3
12.383
11,600
17,1*21
22,501*
26,7'»6
28, 2U;
16,1*92
21,1*38
1.75"*
1.61*9
1,588
1,651
317
322
322
323
2.025
317
28.01*9
26,797
28.211
28,515
26,91*8
27,2llO
1.796
1.827
1.872
27.917
191*6
iSi*?
\9A
19l»5-Ooto»er...
Hovenber.
Seceaber.
9,110
19
13. 71*7
581*
18,750
22,867
23.973
597
527
316
316
316
21*, 008
506
136
1*99
2U,388
1*91*
1.827
1.86U
1.916
25. S"*!
26.91*5
307
307
306
23.867
23,868
1*87
117
116
23.7''l
U79
116
303
3IT
317
23.685
23,861
23.973
"73
U68
U6U
311.
2ll,010
2l*,192
1*58
237
"51
Tebniary.
March
27.95''
27.879
26,657
26,691
26,609
iprll
27.885
28,120
26,605
26.329
28,21*5
26.9''5
1.978
2,018
2,025
28.251*
26.9U3
27,129
27.175
1.996
2,002
2,009
19l*6-Januar7.
.
Kay
June
July
Au^et.
...
Septeaber,
October
28,
W8
28,507
317
315
3IU
27.260
p.
165
150
2'*.
2'*.
139
132
126
120
llU
l*6U
U5lt
2li,352
Money in
circulation
per capita
(In dollare)
Cnd of flecal
year or aonth
IU9.88
11*6
1*9.62
155
53-72
381*
169
59.''7
''33
I9I1O
lUl*
31*2
361
191*
31*1
523
527
558
599
1937
1938
1939
191*1
72.16
91.88
501*
191*2
783
19''3
19l*U
929
1,066
1.205
1,300
103
125
11*0
8U3
263
292
317
1.252
1,261
1.27»
132
133
136
818
825
832
303
305
307
200.08
1,261
136
136
137
819
820
306
307
309
198.68
198.83
198.16
312
315
317
198.08
199.41
320
323
325
200.23
19't5
191*6
19lt5-Ootobor.
.
HoTeaber.
Deceaber.
19l*6-Jantiary.
.
610
700
788
February..
Maroh
1,261*
Jfirll
1,280
1.291
1.300
138
139
830
1.311
1.319
1.332
lU2
81*9
li*U
853
862
1,3''''
127.61*
162.96
191-57
200.3''
:
201.2'*
203.29
1''5
Kay
June
July
Au^uat. ..
Septeaber.
October p.
1.269
(1) Circulation Stataaent of -Dnlted Statea Money; and (2) Annual
Saport of the Secretary of the Ireaeury for 19U5, pagee 67''-677Prellalnary.
BoTloed.
Xxcludea (1) aoney held by the Treaaury, (2) aoney hold by or for
the account of the Federal Roaerre Banke and their amenta, and
lialta of
(3) coin eotiaatod to be held outaide the continental
821*
S5
2/
^
200.31*
201. 1»2
201.69
Includea paper currency held outaide the
the United Statea.
continental liaita of the United Statea.
Oold certificatea aad Treaaury notea of I890 in circulation are
being canceled and retired upon receipt by the Treaaury.
Federal Reaerre Btutk notea and Satlonal bank notea are coTored
by depoaita of lavful aoney and are in prooeaa of retireaent.
76
CAPITAL
AND
Treasury Bulletin
MOVEMENTS BETWEEN THE UNITED STATES
FOREIGN COUNTRIES AND NET POSITION
IN
FOREIGN CURRENCIES
. .
.
December 1946
77
Capital Movements Between the United States and Foreign Countries
chapter
This
United
on
and
States
Currencies
Foreign
Section
Capital
of Capital Movements,
I
Uovements
between the
Countries and Position In
Is divided Into four main groups.
Foreign
the Historical Summary,
contains data regarding capital movements, by the prinof
data and by
starting with 1935.
also shown.
Each type of
then broken down Into Its chief components In
cipal types
The last thirteen months
data
Is
years,
are
The last group contains information regarding the
position In foreign currencies of United States
banks and brokers,
their outstanding foreign exchange
contracts and purchases and sales of foreign exchange,
both spot and forward.
This section covers a twelvemonth period.
net
the same chronological detail.
Figures
Section
II
supplies
a
geographic
breakdown by
principal countries for the last thirteen months. The
total
capital movements are given first and then the
principal categories are shown separately. In addition,
at this point, the total outstanding claims on and liabilities to foreign countries are each presented.
Details with respect to capital movements and
short-term claims and liabilities are presented In Section III as of the latest month for which the data are
for
previous periods may be obtained from
the following sources:
Supplement to the "Treasury Bulletin" on "Capital
Movements between the United States and Foreign
Countries,
January 19^2 through April IShS'
for
details during that period.
,
"Treasury Bulletin",
November 191^5,
for capital
movements, and position In foreign currencies by
months, 191*2-191^5.
"Treasury Bulletins", March 191*2 and earlier, for
details covering years back to January 2, 1935.
Section I.- Historical Sumnary
Table 1.- Net Capital Movement
(In thousasds of dollars; negative flgaree Indicate a net outflow of capital fron the United Statae)
Analyeie of net cqiital movement
Transaction
In doDeetic
eecnritiee
Short—tonn
banking ftinds
1935
1936
1937
1938
1939
In:
Transactions
in foreign
securities
(Jan.
e. 1935-Jan.
1. 1936).
(Jan.
2, 1936-I)ee. 30. 1936).
(Dec. 31. 1936-Dee. S9, 1937).
(Dec. 30, 1937-Iiec. 2S. 193«).
(Dec. 29. 1938-Jan.
3, igkl).
I,l4lt0,686
992,829
1,226,722
«33.715
U12.956
1.198.735
1*28,11)2
6,039
6,811
316,660
600,693
287.391*
3it.687
2lilt,626
328,968
31*
1,135.1*83
32.990
57,196
-85,U27
19I10).
695,080
20,358
-21*5,062
-1*9
-261,955
78,156
51,703
11*8.591*
3.513
13,372
8,529
l,07i*.375
1,216,303
17.791*
19'tO (Jan.
U.
iglto-Dec.
19ltl
-1*53.823
81*1,628
-21*3,522
19112
626,121
1.286,893
583,373
1.168.058
31,
19'»3
125.158
191.076
267,008
26,758
115.689
1*6,599
-7,36"*
-U6,6l7
133.367
1.106.126
19U6 (Jan.
1.
19l*6-July 31, 19l»6).
-325.823
'3.S75
-163,
-3.133
27.767
210,735
-113,105
-292,582
Total (Jon.
2,
1935-July 3I, 19U6).
8.U76.991
6.723.775
11*0,91*5
506,ll*5
22l*,913
231,025
81,132
-it.689
-5,2ltii
3,821
2.06U
125.991*
5.1*69
-11.570
-13.202
-15.276
-1.529
-23.368
-15.985
19.659
-51.679
19UU
19115
19lt5-July
August. ..
Septeaber.
October.
NoTeaber.
December.
19l«6-Januar7.
February.
March
April.
Hay...
June.
56.350
116.732
71.193
-132,120
't.837
20.0U9
-1*7.726 r
-l*l»,33l» r'
-56,1*12 r
-268,552 r
-86,800 r
lU6,li67
-227
-157,226
-9.691
11.636
5.075
36.1*55
-10.206
-172,787
125 ,085
U6.UI17
-30,687
5,822
76.683
-62,276 r
-28,782 r
-8,932
-1,210
5.956
-1*7.033 r
-28lt.907 r
1.793
-71*2
326
-11.009
-62.939 r
l|lt6
-1*.719
-27,330
-lit,
2lt5.779
ReTlsed to include Italian special deposit accounts with ths
Secretary of the Treasury, and the transactions of the United
Bations Relief and Rehabilitation Administration, the International
77,696
93,1*96
Monetary fund, and the International Bank for
Derelopment not prevloualy reported.
3.1511
28,106
-19,588
21, 1175
Treasury Bulletin
78
Capital Movements Between the United States and Foreign CountrleB - (Continued)
Section
- Historical
I
Summary
-
(Continued)
Table 2.- Short-Term Claims on and Liabilities to Foreigners as Reported
by Banks and Bankers In the United States
doUare)
(Poiltiott at end ot pariod in tbouaandi of
Short-tars llaMlltlaa
Short- tarn clalai
jrear or
Loan! to
foreign
bank!
aootb
1935
1936
1937
1938
1939
(uec. 31. 1935).
(Bee. 30. 193b)(Dec. 29. 1937)(Dec. 26, 1938).
(Jan.
3. igW).
19'«0
(Dec
1\IM
65U.990
508.702
152. ''37
150. OWt
66. 71*5
383.978
''7.1'77
367. 786
2't6,673
31.
PajraMe In dollars
Pliable In dollare
lad of caleadar
1*7,
626.0lt2
19'tO).
19'tl
19142
o6g
30,916
3". 387
5U.603
1(7. U*9
310.1*77
268, 719
1.623.317
1.893,087
2,203,185
3,221,328
115.118
118,633
221.383
202.085
3.938.252
3.678.518
72.0il8
365
977
365.636
11*3.
709
1.156. 1*96
1.1*56.885
U6,795
66.1*78
99.95''
1,600.507
1,985,025
3,025,189
209.597
82,983
103.369
60,828
2.712,626
3,786,182
3.352.223
121,001
306,618
668.168
1.222,580
1,218,633
1,910.898
31,01*9
3.55'*.25'*
19,677
13.893
17.911
5,116,97'*
U.
205. 389
5.37'*.903
111*,
791
135.311
1*.
1*9.859
96,020
179. 36I*
6. 5« It, 781*
U, 80I*. 7U1
50.727
39.772
120.-218
135.515
136.639
6.660.933
6. 780. 693
1*.
93.815
U2.606
95.7H2
121. 60I*
1*3.596
90.1*37
197.287
6.952,1*86
6,861.1*28
Ii7,l4«9
100,267
21*5.010
6.883,068
108. 396
2U7.766
255.315
6.993.209
5.027. 0J6:
6,931.ltl»«
it,96l»,752!
1.91*11.872
1.91*3.271*
266. 5£1
6.927.795'
1*.
959. 6971
1.91*3.576
270.667
6.883,102
6.65U.62g
6,612,0101
6.908,181
'*.927.?85i
270.226
October.
November.
Deeaaber.
259.952
331. 320
392.766
19'>£-Januar]r..
Uo6,286
labruary.
March
1|06,801
1*9.218
U31.930
53.333
April.
May...
U3U.270
62.072
703
57.96I*
511. 02t
58.U60
561.1116
108. 706
1(90.
1.301,11*2
1*3"*.
5.596,775
6,883,068
19U5-July
Aucuet...
September
325. 2U3
306.1160
1*88,
21*5.010
I9't5
l9Wt
161.26}
96,726
116.917
165.521
173.238
•hort-te:
llahllitiei
Other
86.378
105, *21
100.267
257.929
329. 69U
392.766
I9't3
of
foreigner
102.268
112.076
101,531
217.396
228.236
236.539
137. 161*
169,670
215.
31*3
22l«.
328
216.171
356,501
U,9li6,62U
97.851
522. 563
950. 703
1.238.097
l.577,l'*3
3.310.732
3,958.716
25,51*6
5,267.081
6.U90,}02
21,61*1
1,761.008
I.777.O6U
19,035
6.259,51*1
863.683
20. 186
6,35^*. 1*73
lt.g9U. 102
l,g6lt.81l»
21,777
6.510,1*67
997. 303
1*, 938. 255
l», 9*6. 621*
1.930.561*
2U.619
27.890
6.692.53'*
6. 530. 108
6.1*90.302
1*.
U,
i»,
76o.Ue8i
762,835:
5,0l*0.2U9
1,895,283
1.910.898
25.
S*
21,301
23,«22
2!*, 522
6.586.923
1.926.596
1.863.228
1.820.061
28,521
30,912
6.1*1*8.832
29,111*
6.163.925 r
6,100,986
1.8ll2,517
25.U15
6.31*6,765
6.52l*.6U7
6,1*95.865
and the Internationekl Bank for ReconatruetlOD and Deralopment not previously reported.
Beviaed to include Italian special deposit accounts with the Secretary of the Treasury, and the transactions of the United Nations
Belief and Behabllltatlon Administration, the International Monetary
7und.
Table 3.. Net Movement of (Short-Term Banking Funds
(In thousands of dollars; nagative
fibres indicate a net outflow of capital froa
Loans to
foreign
banks
1938
1939
(Jan
2. 1935^an.
1. 1936).(Jan
2, 1936-Dec. 30, 1936)..
(Dec. 31. 1936-Dec. 29. 1937) •
(Dec. 30. 1937-Dec. 28. 1938)-(Bee. 29. 1938-Jan
3, 19I1O)
191*0
(Jan.
1935
1936
1937
'
19110-Dec.
31,
22E.132
-llt,788
U7.3l«
-11,526
2.393
83.299
19I10).
12l». 72ll
19,268
.
u.
361,360
70,119
17.62U
28. 91*8
(Jan.
1.
19I16- July 31
191*6).
16,192
97,503
-11.256
-71.765
-63.072
-168,650
Total (Jan.
2.
1935-July 31. 191*6).
191*1
19l*3.
1*09
15.933
-3. ''71
-20.216
StaUs)
Payable in dollars
Payable In dollars
Calendar year
tha United
Ehort-tsra liabilities
Short-tara claims
-3.552
31,868
-20,191
136,780
53.039
-1*8,601*
ities
631.1*69
5«7,33'*
333.507
iu;,6e2
75.159
358.023
269.770
300.020
6.333
19.683
lUJ.llI
371*, 1*1)0
-911,806
-7.717
1*1.758
l.018.ll»3
58,120
-3.515
20,671
-If*. 330
1*7.336
1*9.
3U1
19.298
60.899
6,5'*5
20,520
7l6.90li
760.993
711*
-1*33.959
1*85.870
1.179,31'*
105.607
-259.
620. 881*
-111,
310
185,617
385. 365
554. 1*12
-3.9'*7
-19,01*3
-32.506
7.11'*
5.15I'
-75.3''0
692,265
-136,272
28,839
220,359
1.279.375
-19.825
220,576
583,205
-61.217
118,687
-68. 381
519.067
21*5.330
-137.1*11
1*11.11*8
6.179,708
i*.38it,96o
.795
.783
,231*
10.86U
-868
10.955
October.
HoTember.
December.
.271*
-2.83I*
.368
-990
-3.893
19U6-January..
Te bruary
March
.520
19UU.
19U6
19l*5-July
August.
. .
September
.
Apri
,
.Clt6
-515
-2.635
906
.129
-'*.115
.31*0
-8. 739
short-term
liabil-
Other
37.802
992,829
't.933
1*28,11*2
-16,971
20,386
-1*2, 5UI
1.135.W3
-29.779
-11.372
-5.102
1*,018
li*8. 59>t
-31,122
2l*5.
6,698,775
225,025
-188.1*75
175,230
76.1U9
119,760
388
U711
58. 91*2
30,1119
16.056
87.750
1,151
1.591
155.991*
-1,927
5.305
-9. 830
171.793
103.201
2.81*2
182,067
3.271
.162,1126
2l!6Uo
8,369
65.750
-35.281
15.615
-2,31*1*
-39.806
-8,129
6,128
-9,808
90.203
-61.761
-3.653
60, 1*711
-62,281*
33.971*
-11,21*5
-1.598
302
2,121
1,100
76.683
-62,276
-28,782
29.993
198
-2I1,
26.1103
i*3.8i»9
-59,0»*8
-5.055
10,5'*5
-1*11.693
-31.712
-16.980
108
-115,865
-228.117U
-1*2.618
-167.1*97
-10,81*0
2.3I17
-63. 368
-1*3.167
3.999
2.^91
-1.798
.392
-50.2I16
-8.303
296.171
277. UlU
22.U56
-3.699
I*.
81*1.628
-2U3.522
583.373
1.168.058
1,216.303
-1*96
.''33
388,968
3.730
3.905
-131
.321
1
287. J9U
Bevised to include Italian special deposit accounts with the Secretary of the Treasury, and the transactions of the United Hations
Relief and Rehabilitation Administration, the International Monetary
nd the International Bank for Rec
t previously reported.
91*,
932
-'*7.033
-2811.907
-62.939
2115.
779
atruction and Develop-
.
.
.
Decetaber 1946
79
Capital Movements Between the United States and Foreign Countries
Section
I
-
-
(Continued)
Historical Summary - (Continued)
Table 4.- Purchases and Sales of Longr-Term Domestic Securities by Foreigners, as Reported
by Banks, Brokers, and Dealers In the United States
(In thousands of dollars)
Ibmestlc stocks
Bomestie bonds
IwndB
(Jm-
1935
1936
1937
1938
1939
1935-Jsn.
1, 1936).
(Jan.
1936- loc. 30. 1936).
(Dsc. 31. 1936-Dsc. 29. 1957).
(Doc. 30, 1937-Dec. 28. 1938).
(Dsc. 29, 1938-Jan.
3. 191)0).
I9I4O
(Jan.
2.
2.
1.J02.681*
a,68l».39l
2.273.381
1.200.119
-85.1)27
751. 08U
-21*5.062
5«2.9l*6
-261.955
-15.673
-232.302
650.1*11
637.91)0
518. U29
1*39,676
751.01*5
221.816
278.032
-56.216
191*1
11)6.039
368.558
17lt.952
211).
388
19U2
96.383
151.639
136.853
260,223
-222.519
20.895
-U2.977
l6U,218
138. 51 1*
-39,1*36
25.701*
21*1,299
170.555
268. 2W*
393.390
521*. 083
191)3
19l)U
19i'5
(Jan.
191)6
1, ISHfi-JTlly 31,
Total (Jan.
191)6).
1935-July 3I,
281).
226,61)8
75.1*88
191*. 616
171,1*32
357.655
286.928
-3'».579
-97.1*32
-60.280
70.71*1*
2l*5.31l)
002
365.171
211*.
811.011
1*6.599
27.767
210,735
-113,105
-292,582
506,11*5
21,632
19.697
29.529
-3.802
-6,782
-9.125
2l),896
26.338
2U,Ul2
27.528
-1.1)1)2
1*2,726
1)7,970
-5,21*1*
19,621*
23.1)51
-l*.7»
32.539
13.855
109
57.057
-11,570
-13.302
26,321*
33,081)
30. 180
1)3.021)
-16,700
-11), 538
-11.389
31,019
29,318
61,925
37.687
30.765
30.877
-6,668
U7,622
Ul.569
31,01)8
62!m02
92,105
1)7,558
38,81*2
19l)5-July
**,782
12.780
39.077
-7.22U
-3.938
-15.093
U9,320
69.777
883
19.392
5l),lS3
-165.563
50.385
-12,237
96,878
108,619
65.930
269,665
62, 172
93.260
-172,787
Ul,9lt6
12U
39.660
-10,571
-7.876
1)0,31)6
1*1),
-3.755
-3.133
3l*,5'*6
-7.15't
73.899
67.350
65,782
88,225
78,359
70.901
-lU.326
-11,009
-U,719
17.830
12.915
Angast
Ssptenber
20,l)0l»
Ootober
Sovembar
December
19l)6-January
Tobruaiy
March
23.98U
April
Kay
June
33.553
31.78U
27.392
1)1*.
July
n.a.
513.558
377.717
291.781
191)6).
2.
316.660
600,693
21*1*. 626
57.196
1.U9.905
-188,^6
31. 191)0).
1.11*2.923
506.022
320.991
260.601
392.938
1*73.052
I9I1O-D00.
2,083,698
2,028.755
1.03l*,l)78
206
I».
986.021)
211*.
101
38.699
35.955
35.566
38,390
-i».0T7
-1.1)1*7
2.1135
1)1*,
-23.368
-15.985
19.659
1)6.1)1*7
-27.330
-100,1*31*
16,1)36
Hot aTEdlable.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners, as Reported
by Banks, Brokers, and Dealers in the United States
(la thousands of dollars)
Ibreign stooks
bonds
1937
1938
1939
191)0
(Jk
1*,
19l)0-Deo. 31.
661,256
n.a.
n.a.
n.a.
n.a.
<J«°1. 1936).
2. 1935-Jan.
(Jan.
2, 193b-Dec. 30. 1936).
(Dec. 31, 1936-Doc. 29. 1937)(Dec. 30. 1937-Dec. 28. 1938).
(Dec. 29. 1938-Jan.
3, 19!)0).
1935
1936
896,1%
1,016,188
1)82,809
205.289
185.261
220,533
127.133
133.558
227,897 2/
1)69. 6i)5
3117.269
7U.209
88.973
-29.156
ao
1112,503
ll<5,lll2
391,9119
2117.367
1)02.058
352.ol»5
191*0).
191)2.
I9I);
m.
191
(Ja
1.
19l*6-Jaly 31. 191*6).
Total (Ja
2.
1935-July 31.
191*6
37.328
38.699
19.791
22.078
51*. 789
-9.136
1*1)6.367
-17,1)61
i'7.835
3.1187
Km
3ll*,262
W6I713
August
September
.
.
October.
SoTsmber.
Dsoember.
19l*6-January.
Tebruary.
Marob
April.
May...
June.
301*,
31)0.863
355.1*1
125.15?
191.076
267,008
26,758
115.689
78.156
51.703
-7,36U
77.696
133.367
U.773.956
3.558
-15.699
-1,856
33.22U
29.1)03
13.77I1
I5.I1I8
29.050
17.512
13,1)82
63.1)6U
17.581)
611,361
-50.879
17.015
67,861
22.938
e8.69>»
31.1)06
-2.993
-2,256
-1.991
161, 1U5
-127
2,01)0
263
2. 605
2,182
1*23
2.i*a
2,09l»
327
30,921
11.169
13,562
3.533
5.351*
U.333
8.216
11.150
-800
-3.819
-5.796
6.788
5.625
3.928
9.781
7.881
5.919
It.
U.65U
9.252
6.232
').397
527
7,765
5.221
26,868
15.983
3.821
-15.276
-1,529
-51.679
36.U55
-10,206
23.190
1)0. 2711
21,991*
-U.UlO
33.067
53.877
-28,1)31
29.2117
21.1*31*
7.8I3
167.933
31.071
33.175
1*2,81)8
25.1*1)6
1*8.236
1)8,216
1)11.955
1)1).081
52.763
55.981
30.725
3.I5I1
25,501*
3.281
29.593
-18.577
1)9.609
-1.1*87
-1.011
27.875
50.313
28,106
-19.588
20,71)6
113,761)
U,8U5
I.
372.158
225,289
191*6).
2.303
19l*5-July
71)9,180
1156,051
561.236
a. a.
I9UI
191*5
536,098
705.073
a.
Vot aTallable.
1/
Adjusted for the Inclusion on July 1 of $11*, 787 thousand representing the sale of Province of Ontario Bonds.
2/
18. 623
128,078
33.litli
61.758
27.353
125,085
-30,687
5.822
Adjusted for the inclusion of $2,561* thousand representing red«iptlon on July 1 of ProTlnce of Cordoba Bonds.
Treasury Bulletin
80
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II
-
Sunnary by Countries
Table 1.- Net Capital Movement
flgans IsiUcat* a ut outflo* of e4)lt*l
(In thottiaDda of dollari: sagatlT*
froa th*
UsiMd
Statai)
I9U6
Auguat
Saptaabai
Octoter
HoTanbai
-56.I8U
-72.093
-35.906
69.123
-8.936
1*6.931*
-1*9.063
-1*1.088
-22, 522
-12.135
Jnl7
lixrop<
Unltad XiasdoB
S«l«laa
8,72S
20,696
8.570
Denaark
rial and
0«raan7
521
UU
116
2.331*
1.785
lt.227
1.168
173
-1.37
-1*66
3"
163
-86
3.361
-560
289
3.870
5.18?
2.807
U.381
2.930
2.505
3.1*56
-231*
72
111*
'III
2.812
186
2,003
-7.022
-7.371
31
5.751*
2,1*31*
13.1*72
5.999
-2,786
6.U39
-1.786
-319
3.2U0
I.71U
-687
31
1*17
n't
17.891
3,008
9.666
-U55
-7.280
15
-8.251
11*. 167
6.911*
36
1.886
2.925
10.251
5. 66
J
3.396
-56
2.775
-37S
106
6,809
-965
l«.6ll
lU
199
1.691*
-2.a9
Qraan
:tal7 1/
Luieabourg.
.
Hetherlandt.
lonta/
Portugal
-iiufti
Ruaanla.
Spain
Swadan
5.
Svltiorland.
D.
a.
S.
a...
l.l»70
Tugoilarla. •
Othar luropa.
.
Total luropa.
->i2,5>t<
-979
1|,600
5.881
-80.370
8U. 727
80.399
3,369
-1.639
21.839
-3.7't7
1.71*7
866
1.573
-95
21.356
-3.58't
6.7>t8
..
U96
2,089
7.062
-958
-2.623
..
3.269
-517
Latin Aaorlea
Argantlna. ..
SollTla
Sraill
.
,
Chlla
Coloabla
Costa aica.
—
-2I10
38,l»U5
83.110
1*01
!2i
-70.635
3.809
-5.580
2.672
2.554
694
-171
3.147
-578
20
5.205
ly
2.7051/
10, 765
-U.93O
-2.292
-2.715
131
-1
-78
6
5.095
781
-7.21*6
1*98
I.I161
12,512
3.230
350
-625
6.269
1.737
31*. 1*38
71.622
578
1.531*
2.521*
-1.271
195
1.509
526
22.7971/
-350
1.1*13
-7.11*9
8.685
-3.629
-l*.076
-1.199
1*71
-1.993
-305
-6.205
-8,28U
-12,850
3*
5.223
-690
311
-51*.
7,098
•123,667
10. 872
1.350
•100,467
-31.605
-4.023
270,616
-13.090
-7.324
2.21|4
1.265
-3,126
94
1,843
861
322
425
-123
-619
6.6831/
67
-8.038
-2.786
4.7581/ 26,510
551
276
.
-14.444
1,101
-833
-22.537
194
-1.273
-4,8o4
-135
-3.942
-6. 723
896
-6.574
7.564
-4.975
12.540
-428
1.923
11.558
2,101
170
2,815
3.988
-9.317
845
2.533
•200.900
-143.946
235.972
-«.371
-8.526
4.199
•101,834
-2.129
-7.615
692
990
-6.388
-2.262
-3.543
217
801
1.555
19.9b5
852
124
-99.922
-53.142
3.1*60
I.20U
918
1.369
4.030
-156
•12,628
-1,296
-2.7*5
2.723
8.643
-1,3110
-U,6lt8
2.565
1.766
-552
-61,838
-2,496
-8.677
-328
8.381*
-1.276
-9.572
16.533
143
-1.988
2.262
-17.'»38
•85.679
•21.942
•18.227
-1.616
191*
809
-628
2,Ull
2,21)2
53.553
89.391*
.28?
28,036
12.035
-3U,226
14.396
13.474
-7.130
165
5.081
-1.991
-1.004
11.176
2,268
-1,020
-9.016
457
2.961
-1.039
-1.820
-4.896
687
-6,409
-681
-2.108
-3J2
147
•12.490
-1.187
•34.449
22. 784
14.251
-1.401
-4.867
835
-310
16,389
118
27.111
-2.312
15.754
1.44lt
-3.551
-4.785
-271
-2.831
1.060
2.952
-4.875
-463
16.126
27.101
6.099
3.610
1.841
-576
11
-3. 749
3.661
10. 90
-580
1(28
47
3.021*
14.564
-54
5.229
16, 898
34
-16,156
428
-1,188
11.652
663
-5.341
1.958
-3.685
1.948
-2.338
3.233
-3.296
1.133
5.132
-1.590
-2.554
-2,976
588
-2.446
-4.009
637
-2,113
-1.893
-1.185
1.073
-1.003
3.959
-2,021*
-221
3.129
-3.669
1.065
-2,123
-7.285
623
-1.878
8.95«
310
Total Latin Aaarlea
Asia
China and Manchuria 2/.
Trench Indo-Chlna
Bong long
-7.0U1
-158
2.600
-8.521*
11,1*1*6
-922
9.821
-13.320
9.993
5.505
79|*
-1102
-1.564
10.098
-^'35
1.720
1.750
io!6l4
-4.098
-390
57.822
-19.529
-9.095
1,922
6.697
5.641
40.733
9.408
3O.6O8
40.119
14.501
-6,7'tO
-9.970
725
5.221
-9.854
410
2.747
-20,916
6,336
1,616
20,080
3.222
2.175
•20.767
-22. 721
220
1.512
1,024
-1.601
-41.137
4.538
2.227
-51.993
3.502
-4,713
8.547
-197
-147
•10.868
8.589
189
-l4l
3.587
-359
8
-140
-1.256
32.774
3.965
2.884
17.768
-3.417
7.429
-4,828
1.54s
-37.842
5.033
5.755
-2.770
-472
12.244
-24.863
-4,720
2.112
48,309
6.543
-45.568
117.198
-68,212
2.275
190
-3.005
942
501
2.752
3.340
-1.616
76.809
9.619
-71
Sk6
11*9
India. Buraa. and Ca/lo
British Malaga
Jipan
3.123
-39
272
631
2
-391
lathsrlands last Indlas
Phlllpplna Islands
Turkay
Othor Asia
l.Uil*
-3. 759
2.1*1*1
.li»,36o
-861
Ult3
1*97
U,o6o
63.226
77.528
-10.935
-220
5.232
l,ll26
1»6
-1.667
173
-4.477
67
-53
-150
1*5
73
-1.836
9.975
-1.175
1|2U
4I42
-3.921*
-2.21*3
5,011
658
-1.299
i».923
-4.110
8.128
5.752
-1.318
U,3lU
-2. 707
-9.329
-9.357
4,809
2.985
2.572
12,561*
-3.596
-15.653
1.053
167
2,685
-77
-45
12
18.1*19
-3,281*
1.U7
.4,lio4
-7't.535
-1.015
5.638
6.35^
3.971
2,263
-8O6
591
159
-579
-1,021
-1.198
884
97
I.U7I*
31*1
-1,1*71
437
2.466
7.858
175
-153
-2,836
-1.453
-622
-284
-312
-1.059
711
727
920
1.178
1.187
-5,000
-1.267
794
-3.122
273
-2.351
559
-i»,560
966
3.116
10.327
1.903
-1.049
7.616
-5.085
1,622
-5.896
542
302
54,346
751*
1.221*
Total othar countries
•22,076
-3.064
145.409
9.166
-268,552
-86,800
-17.565
13.320
^.
Unidentified
1/
6.793
-77
-1U3
1,126
1.177
7ranch Morocco
Union of South Afrle
All othar
2/
53^
261
-9.621
51*. 137
-928
13.315
Othar eountrlas
Australia.
Ka« Zealand
Igypt and Anglo-lgyptla
Sudan
Grand total.
10.
1*3
Total Asia.
International
53
7
8.964
-696
22U.913
56.350
-552
116.732
Bavlsed to include Italian special deposit accounts with the Secretary of the Treasury.
Beginning Jul; 19^6 Manchuria le Includad with China instead of Japan.
-928
-Uej
1.067
429
2,988
l*.837
20.049
-47. 726
•44.334
-56.412
Ja2_
672
Includes the transactions of the United latloas lallef and BahaMlltatlon Adalnlstratlon, the International Itonetary Fund, and the International Bank for fiaconstruetlon and DerelopBeat not pravleuoly
reported.
—
.
. .
December 1946
Capital Movements Between the United States and Foreign Countries
Section II
-
Sunnary by Countries
-
-
(Continued)
(Oontlnuedl
Table 2.- Net Movement of Short-Term Banking Funds
(la tbovuandB of doll«rt; negmtlr* flfurtti ladlcAte a aat outflow of capital froa thB
191*5
U<od IlD^daa
13.177
26,721
franca
Balgina
8,1(06
Dtnaaik
rialani
-71.06I*
-2.565
-1*3,280
68,881*
1*7.152
-1*5,051
-33.11*1
-23.011
-12,678
1.731
l*.259
-1*73
-1*83
5
'^
-32
26
Oormanjr
Oraoca
Ital/ 1/
Luxaabourg.
769
-1*2,
Sorwajr
Portugal
13
191
-167
2.661*
2.926
2, suit
-'t.332
Batharlanda
99
3.925
5.559
3.509
—
2.030
-9.116
-7.385
5.985
ftuaanla
8.585
-17.196
2,003
Swltzarland.
9.127
I.U70
-503
-5.221
Total Suropa.
13.151*
-191
-57
2.581*
2,301*
-21*6
-857
3.721*
3,160
170
5.021
-1*3
7»2
30
7.1*29
5.731*
-1.700
-258
253
3.157
12.085
1.629
-693
6,1*50
-7U5
1*01
-1*55
li*
36
-7,292
5,891
-8,216
11*. 203
6.913
3.251
-23I*
6.931
3.388
-57
3.153
-37*
lOJ
6.1*26
6.937
1.75I*
-2,171*
-361
399
218
-66
-30,075
1*5,862
93.675
.
1.1*66
l*.005
3,090
-662
80
2.927
9.796
TugoslaTla.
Othar Coropa.
•79.000
85
30
Spain
Swedan
-29,060 -1*9.021
88.551 -17.529
-1,311* -18.119
l*,lt01
2,U66
-2,758
-138
-31*6
26.2991/
16,282
-3.387
-58.802
9.170
-119.998
13.857
983
-97.186
-33.759
-2.281*
2.668
679
-158
3.111
2,206
-556
1*17
21
-125
1.136
-3.136
-150
-638
-2,81*2
5.238
JU
2.9931/ 22.7991/
6,5871/
5,0611/
-301
18
562
12,91*9 .12,092
-7.6U3
-8.693
-101.671
-13.153
308
-875
-8,086
-31*3
-6.955
17
5.177
3.596
12,981
3.230
7.951
1.736
295
611*
-1*32
2.651
-5.628
-2,228
1. 371*
l*.32it
-78
708
-2,lW*
-1,01*8
-7.891*
-333
692
913
-6.312
-1.388
-i*.573
191*
-1.271
196
1.873
2.336
20.056
-2.5U7
12.5M>
21 1*
91I*
-lil6
2,836
2,220
3.800
97.260 70.882
-82,258
18,620
-17.351*
-81. 312
-2,797
11*.
-135
-3.963
-6,851
-189,813
18,1*23
21,872
-it.793
35
2,031*
103, 786
Irgontlna
BollTla
Braill
Statai)
19<«6
28U
-579
-5"*.
UalUd
10, 785
2,077
173
5,011
I.I83
-72
21.155
1,118
-637
1,202
-l*.56l*
-5.1*01*
li'.236
-2,089
21.836
318
875
1,165
-1.691
2.595
-l,2l|0
-1,231*
-8,610
-2
-1.071*
-1.838
-1,011
6.913
-5.035
1*,502
10,700
-5. 701
16.163
-563
-3.6'to
1.91*5
-2,1*18
7.1*72
-H.Sltl
7.097
-999
3.1*76
-2,1*05
2,662
-5.198
1*81*
-2.71*3
-2l*S
-31*7
-3.525
-S.969
-230
720
107
-1.093
-3.778
680
-1.612
-5.108
652
-It,
I491
-138
2.579
-1.081
-1,120
6,552
1,027
-7,675
2.867
-1,121
-6,272
-19.166
-ll*,237
-6,621
-805
111.797
27.1*39
52
-65
-932
-52I1
1I20
9,970
12.073
-1.969
3,
Chlla
Colombia
Cos
aic
?.
.
1(8 It
-It,
2,21)2
-1.229
361*
-690
I2.OU3
-16,91*9
5,1*12
-53,1*21*
l*.15l*
-It,
835
23.970
lOl*
-2,291*
1.013
6.283
-1*53
It,
229
-9
15.793
Hatherlanda Vea
and Surinan.
Paaaaa
Paru
2.389
1,221
1.335
656
630
1.330
3. 803
-2.867
-2,108
1.898
-2,821
-2,321
3.619
1.12I1
-2.535
-2,ltl5
-1. 563
2. 809
-2.581
115
181*
-1,1|£2
-2,1*65
-77
2,91*1
-2,2l*l
1,1*13
-3. "1*3
-1.938
31a
Vanasoala
Othar Latin Aoarica.
8.90U
158
-6.91*6
-1,021*
1,286
-7,016
3.679
-1.883
-10,516
-1.655
11.371
-ll*,257
3^
9,1*1*6
6,133
-751
-1,908
10,158
-*.398
13.506
7.191*
Total Latin Aaerlea-
58.511*
-3.916
38.^7
36.505
A«la
China and Manchuria 2/.
Pranch Indo-Chlna
Hong long
India, Bursa,
and Ceylo:
Brltlah Malaga
Japan
3.35lt
77.528
9,78U
1,1*22
-1.619
265
5.278
67
-U9
-81
63
70
-9.1*91*
5.155
9.975
-3.712
9,010
5.787
-2,662
211,762
lltlt
3.203
-39
61*1
10,581
It
-391
Total Aala
Othar eoontrlaa
Auatralla
law Zaaland
Xgrpt and Anglo-lgTptian
Sudan
51*.
120
-935
-1. 761
053
13.21*9
-1,1*82
-680
18,883
-3.328
-1.311
61*, 01*9
77. 765
10,757
U.30I*
-H.O29
1,1*11*
2.573
-862
>36
-3.8
-lU.l
I*.
1.176
659
Intarnatlonal
17.823
3.221
2,316
220
1.528
-39.672
l,02lt
''.538
-1,1*71
2,310
3.562
-359
-2,236
-61*7
i*.958
It,
300
-U.U62
8,31*1*
10,931
-197
-130
-75
-1*8
8.563
191
-lUl
8
-lUi
-9.270
-1.717
3.C76
l.5l»5
-3.ifiit
-8, 725
•33.159
18.1*75
-37.1*11*
-7l*,65it
1*,811*
3.920
1,068
5.090
2.907
7.1*52
-5,001*
5.7'*lt
Ji*i*!i
1*0,891*
-116,073
-11*.
578
-3.216
-150
73
825
1.179
-1.1*36
512
399
1*66
12
-197
-207
2.693
32
3.859
2.270
-831
582
765
1.226
6.336
1.028
1.910
1.651
587
3. Ill*
-I. 581
71*8
-1.1*36
10.276
22,969
-17.191*
->*6U
-286
-279
-1,119
2,1*1*6
l*.Ol*l
Total othar oountrlaa.
18.983
623
.l*,lt69
Uli2
1*6
-11,1*18
Batharlanda laat Indlaa
Phillpplna lalasdi
Turkay
Othar Aila
167,271 -20,339
160
6,336
2,821*
1,682
725
5.218
1*7
-211*
272
1,616
'•III
.151
396
1*3
-78
8,lt80
-627
13.021*
190
28.068
-11.079
-i*,117
-1.051*
7.781*
21*5
1*1*3
-2,803
-3.11*9
9IX
2.71*5
-\.033
-1.125
892
^
6.089
l,ll*8
-1.362
930
1,206
-5.067
-1.267
825
-3.167
1.807
-6.039
1*50
51*. 31*6
11*.
921*
-139
-2,923
-22.076
nmdantlflad
Grand total.
231,025
81,132
125.991*
11*6,1*67
-157.226
1/
Revlsad to Includa Italian apacial dapoalt accounta with tha Sacra-
2/
tary of tha Traaaury.
Baginning Jul; 19l*6 Kanchuria la locludad with China Inttaad of Japan.
Includaa the traniactlona of tha Unltad lationa Raliaf and Bahabillta-
^
76.683
-1*7.033
-281*,
907
-62,939
tion Idainiatration, tha tataraaltonal Nonatair TUnd, and tha InMraational Bank for Raconatructlon and DaTalopaant not prarloualj raportad.
Treasury Bulletin
82
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II
-
Summary by Countries
-
(Continued)
Table 3.- Net Movement in Brokerage Balances
(In tboa««Bds of dollars; negatlTO fi|;ur«o l&dlcato a not outflow of capital froa the U<od Statoo)
I9U6
19"»5
Jal7
luropa
Dhltad IlngdoB
fraaoo
Bal^lna
JWgnit
Soptaabar
Oetoksr
Sacsakar
250
-126
-199
U97
360
256
-1,067
1,90't
131
-19
-3,128
-23
Sanaark
rinlaad
Oaraany
loTaator
555
30
5
Oraeea
Italjr
Luxaaboarg
3«
atharlanda
3«5
9t
-ih
Sorway
Portagal
Btaanla
Spain
Svedan
-67
Swltsarland
B. S. 8. B
TacoalaTla
Othar luropa
Total Koropa
-33
99
1.195
381
-511.
861
2,lh5
336
20
-35
6,105
-2,02h
2.761
309
Canada
-6ll
368
-923
73*
Latin Aaartoa
Areantlna
BollTla
Bratil
sin
-1
-367
-321
-773
61
-76
331
-22
36
10
1.096
875
-»9
-186
239
-70
-275
hjg
35
-$62
Coba
Proncb Vaot Indiaa and
Ouiaaa
Maxleo
-IM
-^
Chlla
Coloabla
Coita Blca
50i»
-295
-i»9
-15
118
6
"»1
-36
atharlanda Vaat Indlaa
and Surlnaa
Panaaa
Para
86
it3h
itti
h5U
33t
172
h82
ho
Tenasuala
Othar Latin Aaarlea
2U9
-23
I.5I8
368
-609
939
55
-907
89>>
-98h
Total Latin itaarica
At la
China and Manohorla 1/...
Trench lado-China
Hoof Kon^
-75
h2h
6
8
72
-13
-278
-8
5
258
6
-6
India. Buraa, and Caylon.
Brltlah Malaja
Japan
lotharlandt last Indiaa.
Philippine Islanda
153
-169
Turkejr
-152
251
>t9
Other Asia
-118
Total Asia
ltl»5
Other eoantries
Australia
Mew Zealand
ICTpt and An^la-leTptlan
Sudan
25
13
Trench Morocco
Union of South Afrloa. ...
All other
Total other countries.
3
1/
Beginning July
-U,689
1^
-6
-1,165
-1,119
. .
nnldentlfied
Oread total
3
-11
191
January
7obniar7
March
December 1946
83
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II.- Summary by Countries
-
(Continued)
Table 4.- Net Transactions by Foreigners in Long-Term Securities (Domestic and Foreign)
as Reported by Banks, Brokers, and Dealers in the United States
(Itt
thomaadi of doll>r«; pagatlT^ figure, Indlota B«t
»!•
by for>lgB<r«)
Treasury Bulletin
ik
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II
-
Summary by Countries
-
(Continued)
Table 5.- Short-Term Claims on Foreigners as Reported by Banks and Bankers In the United States
(PotitlOB at and of aoath la thouBaadt of dollara)
3
December 1946
85
Capital Movements Between the United States and Foreign Countries - (Continued)
-
Section II
Sunnary by Countries
-
(Continued)
Table 6.- Short-Term Liabilities to Foreigners as Reported by Banks and Bankers in the United States
(PoaltiOD mt and of Konth la thousauda of dollars)
19)t6
19»t5
kagati
luropa
Qaltad tlngdoa.
Saptaabar
Oetobar
lorenbar
Danutrlc.
Finland.
OamaDj'.
&r*t c«
It«l7 1/
Luxaoboiirg
1*0,083
11,555
l*l*,2l»J
6,606
6,907
10, 737
11,211*
6,770
6.613
17.375
10.116
6.620
69.961*
69.666
71,108
97.l*8ol'
71,932
100.507i'
22.3I2
182,936
70, 790
70.371
22.277
281,567
216,071
176,U59
22.359
282.182
175,002
1*8, 1*97
'*7,881
1*7,1*81
15,251*
15. 378
29U.909
159.290
19.667
9.227
9,21*0
2U.ltlt3
9.313
31.712
210,
9.291
37.117
213.959
9,218
37.355
212,880
9.222
35.363
205,166
315.1*57
29.7>*3
316,218
28,179
6,555
1*8. 38l
321,155
21,829
6,766
51,217
313,117
218,615
360,321
195.602
13.683
6.627
6,760
lU,U20
6,671
6,859
16,825
7,153
6,856
20,070
6.679
7,051
6,202
6,g8U
63.171
53,886
22.938
217,968
187,118
66,097
22,896
6(.669
61,980
22,853
70,977
65,360
23,023
228,051
182.673
15.166
269,61i2
58, '•79
305. 782
25.921
5.538
6.963
7110.221
lU9,908
It9,l|8l
553.120
361,153
166,263
2lt,327
7116,157
356,68lt
60,50
553, 759
167. 558
707.69"*
310. olio
823,952
22,853
215,807
236,635
56,385
679.0U5
398.293
181*, 865
rabnuxy
699,617
327.256
182,997
•71.952
398,961*
150, 53«
Balglim
Jaauar7
Decemba
185.029
22,311
630,199
380,667
176,112
131.360
319.659
177.786
535.059
285.961
175. 718
S6I.O7I
275.207
169,008
1*8.551
19.715
11.17?
6.351
50,361
11,871
6,136
11.907
6.505
76.677,,
123,1*1*61/
22.01*1
130,1911/
22,059
268,366
161, 6U9
72.277,,
136,95li'
22,613
61,ll3
165.511
22.932
lorwv
I8l».35i»
293.911*
9,281
9,682
36,93"»
B^maola
Spain
U$,lt6it
'10,376
I9't.33»
9,236
32,589
199,062
213.1>66
31,208
217,196
273.781
277,668
28lt,U20
289,966
30l*,22l
721*
25,i«)U
211.373
21*, 81*8
5.113
5,2l6
UU,951
5.229
5,i*ltl
28,012
5,735
I4t,l)62
*1,317
SMdaa
183.
Swlttarland
S. 8. B
Tu^oalaTla
OUiar Xuropa
268,522
22.33«
5.170
t5.l7l
n.
70'i
25.
1*6.922
11*5
6.319
16.398
Total luropa
Canada
256,090
161,051
231.137
1U8.865
1*8,582
U7,6l*ii
10.029
36.205
199.991
10,151
35.167
195,957
10,001
32.330
10,870
20.732
191. 700
201, W*3
32l*.ltlll
323.231
57.128
7.257
57.122
332.538
59.199
7,129
62,326
336, 716
882
7.675
53.563
2,588,818
220.563
39, Olio
1*9,1*88
2,502.51*1*
2,393.217
!,257,136
e. 551, 375
1. 319. 736
latharlandi
Portugal
1,31*1*,
138
1,218,229
.263, 755
1.28U.303
291.999
1 71*, 016
1*1*.
50,205
8,275
65,915
Latin 4j«rtea
Argentina
Bollrla
Sraill
Chlla
Coloabla
Coita Blea
Cuba
Tranch Vast Indiaa and
Quiana
Maxlco
Setharlandt Vast
Indlas and Sorlaaa
Panaaa
Paru
Tanaiusla
Othar Latin iaarlca.
82,510
17,161
161,350
75.051
18,01*5
162,971
78,030
17.858
181,501
77,188
17,879
179,157
82,305
15,611
185,603
6U,1*87
90,188
7.031
63,208
93.217
6. 216
63.557
83.078
6.631
153.891
156.936
151.176
115.371
71,111
81,508
7.079
136. 161
128,293
5.953
122,222
8,606
177,209
7.335
158,720
7.329
161*. 306
6,631
111,818
7,120
116,36s
31.529
89,616
35.750
31.692
87.813
38.770
50,213
131.917
13,011
1U5,278
501,111*
Bursa, and
CayloD
British Malajra
81,135
12,693
206,827
92.623
11,910
222,011
116,589
10,700
218,81*6
121,371
12,288
231,061
63.883
6,297
60.313
72.113
6,005
55.301
5.693
6,901
59,262
66,311
6,730
62,103
75,2ll
6,751
120,188
139.173
152.692
163.653
169,636
167,021
6.582
110,729
6.627
122.317
7.029
119. 765
6,985
137,075
7,617
135.301
22.SU6
87,176
15.019
20,650
91.181
11.875
21,720
90.325
19.196
88,913
10,320
16,73«
87,083
10,586
11.692
39, 780
1*1,301
50,339
160,508
1*6,060
156,300
19,177
152,393
717,030
37.991
36.126
695. 381
620
1,617
3,661
37.585
102,081
103. 615
617,011*
7,231
125,881
30,990
90,732
28,238
20,911*
88, 721
89,135
1*5,901
13,926
1*3,1*21
38,323
138,331
1*9,688
33.598
327
1*8,152
138, 61U
138,105
1,098,910
588,llbl
591.685
27.523
21,731
581,380
27,500
22,115
582,276
28,036
27.355
756,256
28,196
30,167
737,967
31.550
31.828
732,087
37,928
31,801
21.91*8
25.250
918
3. 911
28,857
920
33,2l3
987
1.158
31.561
1.032
1.077
33. 380
29.367
1.657
3.983
36.72?
25.651
l,61tl>
1,1*71
3.853
3.805
108. 775
510, I70
99.296
612,115
50,175
76, 685
lol*. 1*1*7
103.758
113. 726
659. 7I8
50,1*61*
1*7,186
629,175
52.177
77.959
110.013
612,797
57,275
75.119
100. 71*5
6I5.I31
99,028
598.121
66,067
86,336
69. 597
1,01*3,189
578,666
27.560
21.738
1*1*,
90,1*61
1*2,625
ll*U,76U
1.015.713
27.518
77, 539
32,919
89.072
38,797
Total Latin laerlca.
Asia
China and Kancburla 2/
Pranch Indo-China.
HoBC long
66,281
79,186
6,889
61,565
82,323
8,019
83.937
13.571
210,631
1*2,371
11*5,988
ll*,l98
195.138
79.9«3
13.3*1
199.622
61. 630
80,60l*
91.768
13.596
192.252
77.332
27,607
21,882
168,637
81. 81
39.236
12,328
171,189
1.171,351
657,015
I3.55I
37.755
611, 92U
36.097
1.599
3.526
33.161
2,176
9.165
100,222
505,528
69,278
86,817
111. 263
580.211
71.998
87.369
1,655,668
1,51*1.121
39,01*2
35.360
1*7,221*
33.238
India,
J^an
BatharlaadsXaat Indl
PMllpplna Islands..
Turkajr
Othar Asia
Total Asia
Othar eonntrlas
Australia
Baw Zaaland
Xfirpt and AngloIgTptlan Sudan
Pranch Morocco
Union of South AfricaAll othar
Total other countrlas.
21.099
9II
1.322
U2.6I16
528.775
50.833
69.633
51.178
71,195
l*,2ll*
83,717
72,997
1,201
1,137
1,31*1.802 1,132,691 1,510,512 l,563,Ul6 1. 55I. 351 1.519.722
2/
1,685, 59«
182,366
61,171
89.166
29.005
3.737
30.151
1.303
28,665
10,81*3
13,597
13.609
17,292
19.627
3.981
1.733
73.396
1,711
5.761
79.838
8,ll02
6,Ult8
8.OI18
6,351
89,982
112.813
96. 081
96,181*
110
136.071
119.351
176. 97I
167.576
121*,
5.792
16.396
6. 581*, 781*
I7.II8
26,61*2
21,366
3,81*1
7.528
6,1*29
19.585
18,923
17,878
16,768
17,713
17,713
9.686
6,291
95.110
10,117
9.097
103.109
10,31*1
11,255
8,927
101.315
11,228
9,160
100.502
U,280
12, 761
96.2UO
91,521
11,157
10,055
93.181
171. 9I9
167,311
169,858
165,288
168.150
167,830
36. 116
65.352
210. 761
6,651,628
6,612,010
1.256
16.721
17.610
6,660,933 6.780,693 6,952,186
21,323
3.765
28.91*1*
9.363
7,679
26,078
3,963
19,938
3.070
Berleed to Include Italian apadal dapoelt accounts
Saoratary of the Treasur7.
Eaglnalng Jul/ I9U6 Manchuria Is Included with Chin
J^aa.
81.921*
3.670
l61*,ltlO
28,1*96
1,572
Unidentified
y
66,918
i.loii
19.359
27, 559
International J/
Orand total.
635.693
62.181
78.385
31*,
6,
861.128 6.883,068 6,993,209
j/
17,732
6,927,795
19.216
18,302
HS
12,375
6.931.
6.883,102
6.908,181.
Inelndas the dollar balancee of the Unltea latlone Belief and Bahabllltatlon Adalnlstratlon, the International Monatair I^ind, and the InUrnatlonal Bank for Baconstruction and Develepaent.
Treasury Bulletin
86
Capital Movements Between the United States and Foreign Countries
Section
II
-
Summary by Countries
-
-
(Continued)
(Continued)
Table 7.- Foreign Debit Balances (Balances Due From Foreigners) In Brokerage
Accounts as Reported by Brokers and Dealers in the United States
(Poaltlon
ftt
end of Booth In thoutandt of dollari)
.
December 1946
87
Capital Movements Between the United States and Foreign Countries
Section II
-
(Continued)
Sunmary by Countries - (Continued)
Table 8.- Foreign Credit Balances (Balances Due to Foreigners) in Brokerage
Accounts as Reported by Brokers and Dealers in the United States
(Position at «nd of month In thouaandB of dollars)
igitfi
Angnst
febmary
3.9^
9.l6?
l.Tlii
3.095
9.516
1.903
BoTeaber
Dseembor
January
3.922
9.512
•.322
6,759
9.3't7
10.561*
ii.oui*
1.606
1.I180
1.260
5.593
9.850
1.531
7.009
9.I106
1.672
1.51*3
219
United Kingdom
France
Belgium
Octol)er
163
27'*
Septsffilier
3.862
Denmark
Finland
6
Greece
Italy
Luzemboarg
321
18,110
696
180
18.219
875
185
18. 596
59
99
U73
59
115
1463
Hetfaerlaade
955
171
19.052
910
160
i7.9eu
19.859
1.563
9.986
1.608
1U3
10.1J7
201
1.66lt
59
^Itxerland
H
3li
26
25I
899
11.5
"3
152
512
la
25.965
26.27U
26,689
iti
1*5
liit
1.6U8
368
161
3"*
275
2U
1.679
1*29
5.270
10.626
1.559
167
290
23.637
Spain
Sweden
5.795
10.U62
1.523
5U
306
25
191
823
17?
756
Sorvay
Portugal
2l|0
21)
286
March
160
5U9
12U
671
768
9.1*91
"5
108
6U7
3U2
769
9.779
1.270
63
9.795
1.500
90
57U
t5
103
528
27.720
29.036
0. S. S.
TngoalaTla
Other Sorope
Canada
Latin America
Argentina
BollTla
Brazil
•
U,oo6
as
U.207
58
1.633
1.638
1.635
60.581
61.560
68.69U
61.535
61.936
5.615
6.872
7.696
8,386
7.U37
11.519
i>.3«
•.370
73
1.790
5.076
'*.785
65
5.590
65
l.7«0
1,51*1
1.1*36
Chile
Colomhla
Costa Blea
6|3
163
19
859
157
800
779
299
72
56
6lt
1.581
1.IA8
1.870
80
23
661
132
29
576
l?3
1.5't9
1,622
1.596
31.6
Netherlands Vest Indies
and Surinam
291t
•
5.176
P»m
Tenesuela
Other latin Amerioa
1.337
Total latin Amerioa
18.37'*
5.660
91
l.7'*7
1.691
6.3U7
6,1*69
6.229
6.1)00
l.ltU3
929
1.659
7U3
278
38
620
265
87
60U
1*9
U,788
3. '•31
255
7.998
193
8,2U9
187
7.970
27U
8,716
2,1105
1.111
2.563
1,000
2.875
1.075
27.681
186
26.567
28,212
2.103
1,566
23.76U
23.05U
1.1*9
1.81*9
i.m
2,297
1*7
9I10
1.189
8
52
U7
89
117
68
2
India. Burma, and Ceylon.
26
British Malaya
Js^an
5
28
2.133
1.522
25
2S
Philippine lelande
Turkey
Other Asia
6
1.360
6
1.269
7
1.395
7
1.53^
60
131
Total Asia
I.6I8
3.812
*,369
7
8
Ul
1.673
Total other countries
1.890
1.963
85.1100
86.336
£6
67
67
"3
1.922
67
71
"12
U,879
73
31
1.887
2.078
Unidentified
Manchuria is Included with China instead
1.050
1.056
1.362
1.389
53
55
191*6
U,176
109
1.657
Beginning July
of Japan.
230
38
93
2,127
1
^
81
8
65
French Morocco
Union of South Africa
All other
ly
11
1.963
263
87
Grand to tal
1.777
26
9
2.875
2
171
2.661
g.a37
Other countries
Australia
Vew Zealand
Xgypt and Aaglo-lgyptlan
183
2.31*8
1.71I6
18. 556
.
Hetfaerlands last Indies..
66
1
6.798
2.632
1.095
267
1.385
2,268
81U
3U9
6.163
132
61,263
1,2K>
3
2.113
1.736
60.291
6,919
38
l.7't3
IS.
.
2lt
1.81U
Cuba
French Vest Indies and
Ouiana
Mexico
uu
1.625
6l,6l0
5.326
"•.925
1.519
60.U77
Total Airope
Asia
China and Manctaurla 1/
French Indo-Chlna
Bong Cong
>4l*
96.1U1
103.603
98.939
97.595
98.956
101.258
99.3^
Treasury Bulletin
Capital Movements Between the United States and Foreign Countries
Section
III -
-
(Continued!
Details for Month of July 1046
Table 1.- Short-Term Claims on Foreigners as Reported by Banks
and Bankers in the United States
(In thoaaasdi of dollar*)
December 1946
89
Capital Movements Between the United States and Foreign Countries
Section III
-
Details for Month of July 1046
-
-
Table 2.- Short-Term Liabilities to Foreigners as Reported
by Banks and Bankers in the United States
(PoBltiOB at «nd of nonth In thooiaadl of dollars)
(Continued)
(Continued)
Treasury Bulletin
90
Capital Movements Between the United States and Foreign Countries - (Continued)
Section III
-
Details for Month of July 1946
-
(Continued)
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners as Reported
by Banks, Broilers, and Dealers In the United States
(
Ib tbomaakdc of lollari)
December 1946
91
Position in Foreign Currencies as Reported by Banks and Bankers in the United States
Table 1.- Net Position by Countries
(In Uuiuand* »f dollars! na^tlv* flgnni Indleat* ttaort poiltlon)
Treasury Bulletin
92
Position In Foreign Currencies as Reported by Banks and Bankers In the United States - (Continued)
Table 2.- Outstanding Forward Exchange Contracts
(Is ttasnaud* *t dolUra)
(oontlanad •» fsllovlDC p«c*)
Total
orop*
Vnltcd
ElBfdaa
Porohat* oontraata
**tali
S.39U
13.276
i9.iia
5.105
10.397
5,006
10,107
i«.9t3
12.901
13.605
12,391
i2,aoo
13.375
12.190
19.9li£
U.WiU
?obnuf7
ao.190
12. 7n
Naroh
ao.ii33
llt.663
11.193
1«.5«9
l>>,6^
i^ll
23.997
17.>t66
16,5U9
17.379
16,532
Jmo
a.3B9
A.17<
M.755
K.650
J»ly
51. 39*
l>lt,86«
t.koi
2.575
1*3
911
ia>3
619
(22
950
619
712
19>IS-iai(<ut
S«pt«ab«r
October
loToBbor
DoeoBbor
19>ii-Jairau7
•tair
a .996
17
78
21
336
Ires ferol^B onatoBorot
X9li5-iagtt.t
SoptoBbcr
Ootobor
loTonbor
Daco^er
IJlS-Januir
fabr«air7.<
Il««h
Iprll
*«y
Jona
2.227
1.550
1.072
1.302
Octebar
laTaabar
Daeanbar
19lt6-Jaa«ai7
Tabnuurj
March
^rll
Hf
Jvn*
July
!«3
kgo
313
191
<6
5.9««
10.701
17.082
19.953
16,676
17.719
3«
86
367
6I16
1,W8
J«ly
Traa dABaotlc cuatoaaral
igU^-iajBat
SeptaBbar
721
«l|0
6lt£
U,662
9.M86
12,2S2
12.7*3
ILHUl
i».563
9,386
12, 181
12,663
11.350
10,7>I0
IS.fillO
10,991
12,301
19.361
1'».350
12,109
lU.3h3
22.69S
20,761
22,69«
17.275
17.267
16,1163
18,367
"»9.7'i7
le.lM
18,283
'•3.779
336
Salaa ooatraota
Tatali
19l45.iaguat
Saptaabar
Octobar
KaTanbar
Saeember
19116-JaBBaiT
Tabraaxy
Maroh
Iprll
lO.Uglt
16,983
2h.769
28,802
29.226
37,2"H
>tl,909
'»3.3«7
5.673
11.531
16.661
i|;l§
5.165
10.832
"02
15.75*
18.9*9
I8.967
23.613
30.165
36.15*
22.«'13
"^."•6U
"10,221
Kaj-
"•9.539
"•5.833
JvBa
52.656
38.535
10,900
Jml7
10^.310
92.280
29.526
36.036
90,958
Ta faralfB cvatoBarai
IJlt^lngMt
Saptaabar
Ootabar
lareabar
Saceabar
19'l^Jaiiaax7
Tabmary
March
iprU
*«y
Jana
fcly
To doaaatlo ooatoaara:
19U5-lagQat
Sapta^ar
Octobar
loToabar
Deoaabar
19146-Jannary
Tabraary
Maroh
Iprll
991
1.95*
2.000
2,38H
2.593
506
1,512
I.6I15
l.59li
1.017
1,28>(
1.115
55»
773
1,002
72*
1,280
2,666
2.666
9.503
15.025
22,769
26,I»U
26.633
5,117
9.969
15,016
18,391
18,651
22,k98
29,611
35.385
2.327
1,636
926
''%
S.9l'>
.273
lie.Kl
l«,505
39. "•62
*V
"•5.069
Jvaa
Jaly
51.352
37.807
39.620
102,6I«1)
89,6l">
1.2ll9
1,198
916
9U1
"•31
703
832
991
879
2.098
11.659
9.320
lH.509
17.791
18.051
21,902
29.099
35.333
39.389
37.757
39.568
88,e6o
19
39
I
. .
.
. .
December 1946
93
Position In Foreign Currencies as Reported by Bonks and Bankers In the United States - (Continued)
Table 2.- Aitstandlng Forward Exchange Contracts
(la
(Continued)
thoOMndt of dollars)
loropo - (oeatlattod)
Chlaa aad
Ihaohurla
Othw
lorope
Boac
KoBC
1/
Pvreliaoo eoBtrmoto
Total:
19>l9-lagnat
floptaabor
l,8fi«
I
An
Ostobar
lanoibar
Oaoaabar
129
1.287
1.300
380
380
1.230
3
1.20U
380
380
380
1.997
380
821
821
821
821
821
5.156
5.618
3.n"t
1.53*
1.531
1,20>)
1.909
it.UM
3,100
1.531
1.531
992
938
J«M
3.567
3.288
2.691
237
13U
1.971
1.175
2.571
322
831
Joly
2.1*97
«57
2.552
190
1.331
5't7
129
1.287
1.300
380
380
1.230
1.201
1.201
380
380
380
1.771
997
703
380
19l|6-Jaimai7
7abrqaZ7
Nanh
ijrtl
Xf
990
3»
1:111
961
6«3
379
171
froa faral^ eaatoaari:
IJltJ-ingast
Si^tembar
235
Ostobar
loTaabar
1)90
17
Daoaabar.'.
19l|£-Jainuuy
7abmar7
Maroh
iprU
82l
821
821
821
821
861
61
182
530
556
521
951
110
1.076
675
211
Si
Jnaa
511
562
Wl7
875
613
252
126
328
779
920
715
»V
Troa doaeatle aaotoaarii
IJbS-Mgatt
Sapta^ar
1.321
1.192
K.666
5.601
3.666
Ootobar
iBTCHbar
SaeaAar
1.531
1.531
1.531
1.531
98«
3.2S8
2.691
93«
237
131
223
328
923
1.020
765
1.198
2."»97
19l;6-Jaa«ar]r
•57
1.677
"•.909
>|.»15
Tabr«aZ7
Maroh
3.100
^11
3.1)62
•ta7
Jbbo
J«ly
90))
272
1,082
Saloa coniraoti
total
1915-iagut..
3.971
1.729
S^ttaiba;
Oetobar.
7.565
8.077
8.569
Saooabar...
19l6-'aBsai7
Tobraaxy.
Naroh
—
10.669
8.967
I.5O8
iprU
5.987
5.219
8.029
HV
Jvw
JUr
5.215
fa foralcB oaotoaarai
19l5-te(a<t
Siptoiibar.
251
302
231
279
lie
'U
827
1,111
662
582
171
218
395
1,290
33
60
1,111
2.022
2.051
laS
277
379
379
J7
1.292
1,722
1,692
3.251
2.151
1.755
3.228
1,702
1.616
2.855
i.n8
135
387
.
Ootobar
8I0
8I0
8I0
Baoaabar...
19l6-faBur7
Tabraarj.
Xaroh
591
392
.
355
562
718
372
2I2
153
tftll
*»
if
1
Jana
Jal7
To doaootio aaatooar
Saptaabar.
3.971
1.720
251
302
Ootobar
laTaabar.
laoeBbar.
7.565
7.8I9
7.729
1?
19>)5.1aguat
.
.
19l6-JaBoar7
Jimo
9.829
8.127
I.5O8
5.987
5.239
8.029
July
5.2I5
Fabmarj.
.
March
ifirll
•taj
1/
Boglnnlag July
19>l6
279
110
33
60
1,072
ISO
129
1,111
2,022
2.O5I
139
2.853
1.778
3.251
192
391
1,290
Naaohurla li Inoludod olth Ohlaa laitoad of Japaa.
1.702
126
2n
379
379
37
1.292
1,722
1.652
2.I5I
1.755
3.228
1.616
Treasury Bulletin
94
Poeltion in Foreign Currencies as Reported by Banks and Bankers In the United States
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward)
(In thousands of dollars)
Currency of:
Europe
(continued on following page)
Transactions
during month
Total
Borope
United
Kingdom
Total porchaseB:
September
October
BoTember
Deceoibar
19116-Januaiy
Spot
forward.
Spot
Forward.
Spot
58.112
U.985
Tonmrd.
19U5-Aiigu«t
13.'»32
Spot....
Forward.
Spot....
Forward.
Spot .
«U,122
•
.
.
Itorward.
February
March
^ril
May
June
July
Spot
Fbrward.
Spot
Forward,
Spot
Fbrward.
Spot
Ibrward.
Spot
Forward.
Spot
Ibrward.
. .
.
.
.
.
.
.
.
72.18't
T.306
l't.823
32,782
3.103
39.9U6
5. 809
38,056
7,770
50,087
6.169
5U.562
5.250
23.868
3.103
365
33.
267
'•'•9
5.808
28 728
268
7.765
'«,377
321*
312
5U6
363
.
6.01*2
1*2,821
98.936
9.52T
107,608
11,118
105.317
9.*92
137,076
15.833
138, 2Ul
13.002
129, U96
12.989
129.739
13.898
209.795
l't'*.571
57.369
8.U57
59,076
8.638
51*, 232
8,230
123.091
>tlt.812
37.888
37.1103
31.652
2,896
18,995
1,674
19,576
58.15'*
5-777
66,691
6,552
73.868
8,960
69,819
8.536
73. Olio
8.657
67.383
8.319
92
5
5.250
1*7.630
563
5.698
57.7I1I*
599
6,552
60,552
777
8,91*3
6^
,1*92
7
,388
898
2
779
68
1,201
68
Purchases fron banks:
19l*5-August
September
October
BoTsmbar
December
19116-Jaimary
February
March
April
Hay
Juno
July
Spot
Forward.
Spot
Forward.
Spot.
Forward.
Spot.
Forward.
Spot....
Forward.
Spot
Forward.
Spot
Forward.
.
.
.
.
.
.
.
.
.
Spot
Fbrward.
Spot
.
.
.
.
Spot
Forward.
Spot
Forward.
266
339
uk
255
U.783
3.7'»9
Il8,0lt3
25.8U6
181*
9.937
6, 71*7
5
56. 188
37,813
5.136
21*1
7.U1U
62.666
6,115
65,161
7.229
73.18't
7.102
1*1.111
37
102
31*7
3,036
39.315
2.783
52.693
537
506
't.'t90
667
55.383
5.072
.
Forward.
Spot
Forward.
.
36. SS"*
85.799
6,2lU
73,167
7.257
81,782
10,889
I5>t.i5i
117,1*86
30.633
25.713
26.it6o
13.787
1.U29
71*2
519
'•5.379
3.'i07
1,230
7
1,276
l('t,850
'•.165
1*7.898
179
2
676
6,601
1.159
Purchases from others:
19U5-Aiigu«t
September
October
HoTenber
Decsnbar
19116-January
February
March
i^pril
May
June
July
Spot
Forward.
Spot
Fbrward.
Spot....
Forward.
Spot
Forward.
Spot
Forward.
Spot
Forward.
Spot
Forward
Spot
Forward,
Spot...
Forward.
Spot
Fbrward.
Spot
Forward
Spot ...
Forward
.
.
.
.
.
.
.
.
.
.
.
2.089
35.590
2.523
31,106
3. '•95
20,370
2. 060
12,210
1.023
13.370
1.429
20.120
2.060
II.U39
1.023
27. 93"*
7. '109
12,271*
11,11*1*
83
1.033
36.270
3.U12
13. '•51
2.211*
1.033
11.950
298
16
U2,Ul»7
18,839
2.99U
1*9
26
13.5^8
2,062
5'*
93
17.1*31
71*
35
101
135
262
119
112
103
6k
256
U2
3.889
32.133
2.390
U1.817
5.765
18,1*85
2.211*
18,11*0
2.99I*
3,888
3.888
52,1*1(2
21*. 1*1*0
23.7'*5
6.788
56.329
5.732
5,129
28,190
5.129
'•7.957
19.U«5
1.718
27.085
12.175
3.009
55.6Ult
1U,179
U.l*92
27. ''I3
It,
1*92
18,827
1,650
25,127
11,690
-
(Continued)
.
December
.
.
.
.
.
.
194^6
95
Position In Foreign Currencies as Reported by Banks and Bankers In the United States - (Continued)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward)
-
(Continued)
(In tboaunds of dollars]
Currency of:
Barope - (continued)
Other
Rirope
Japan
Total pOTChases!
19lt5-Au«oet
Spot
Forward-
October
6.195
162
665
Jbnrard.
Spot
Torvard-
957
U.576
102
.
December
1.826
Forward.
Spot
5.56^
I7t
1.322
6.053
260
5.U21
2.780
5.553
17U
17
1.358
Ftorvard.
igUfi-January
February
March
^rll
May
June
July
Spot
Forward.
Spot
Fbrward.
Spot
Forward.
Spot
Forward.
1.859
75
U.522
Zk2
20.510
616
''3.379
2,209
78
3.052
5.590
635
2.867
.
5.2U2
1.21*
5.502
375
9.600
753
21
5.371
W7
December
February
March
April
Spot
Forward..
Spot
Forward.
Spot
Forward.
Spot
Forward.
Spot
Forward.
Spot
Forward.
Hay
Spot
June
Forward.
Spot
Ibrwapd.
July
Spot
Forward.
PnrcbaaeB from othart:
Spot
19U5-Aoguot
Foivard.
September Spot
Forward.
October
Spot
Forward.
Spot ....
November
Forward.
Spot....
December
Forward.
19^-January
February
March
April
May
June
July
U.652
UU.906
3,581
33.708
3.306
38.895
3.306
37.196
3,I»68
919
8.351
1.176
11,916
5.967
539
U.539
1.675
5.23't
92
l6,li79
1.222
5.>*80
168
17
1.275
5.273
1,832
13.862
2.278
15.201
1.25't
13
13
3.155
1.531
U.2U5
1.188
1.188
2,367
100
3.875
2.367
5.352
81|lt
6,292
'•.331
5.038
1.519
7.223
537
1.8m
I1.9I10
5.276
119
8.690
637
895
7,2llO
7.2I1O
IIU
It.
912
7.281
1.903
912
7.281
1.903
8,lt22
8.1*22
1,920
1.920
6,ltlU
370
6.528
856
I4.U87
17U
6.702
5U3
2.0U7
78
2.953
5. ''70
532
5.195
1.069
2,727
5.350
295
U.19U
9.U8O
563
21
1|6
I16
2.037
1,270
1.270
2,191
1.191
1,191
13
13
1,999
1,178
1,178
66
151
330
82
100
573
92
83
ll|8
9U8
Spot ....
Forward.
Spot ....
Forward.
Spot
Forward.
Spot
Forward.
Spot....
Fbrward.
189
277
55
Spot
Ibrward.
16.011
3.602
8.970
1,093
28.038
2.811
27.521
2,170
15.766
2.660
20,188
2.725
19.558
2,582
2,681
2.353
100
It
.381
5.ltl2
3.365
301
3.693
.
Forward.
'iU
'•IS
U,306
1.519
6. 580
11.297
1.519
6.580
l,88lt
1.881*
7.571*
637
3.70U
5.355
11
,81*3
359
15.026
2.U72
10.052
'*.8U5
17.027
1.198
17.592
895
702
6.737
U32
6.820
1.563
7.977
1.658
6,820
1.563
7,977
1.658
97
5.28U
91
37
.
637
768
1.767
2.9111
1.670
75
1.850
228
Spot.
100
3.875
8Ut
5.029
1.519
7.223
1.88U
8.690
2lt8
3.17U
38
.
1.25lt
3.130
9911
126
.
1.305
3
ii,l*97
^rward.
19M£-Januaiy
33.603
lie
2.739
1.1(21
Purchaees from banks:
19lt5-August
Spot
Forward.
September Spot
Forward.
Spot
October
BoTember
1.836
23.759
1.353
31.505
5.eU6
23.91U
7.123
32.228
U.112
6.931
1.9I1O
Spot
Forward.
Spot
Fbrward.
Spot
Forward.
17.7'tf
97
6.737
1*32
35
35
939
63
63
1.156
1,531
1.56U
lU
lU
2l*2
2l*2
3
10
90
35
68
11.5ltO
880
732
732
262
229
73
328
15.3U1
I.6U1
966
236
6lt3
61*3
162
120
103
l,2lt7
99
U7
175
IMO
152
1.116
503
503
6it6
1.177
1.116
1.191
llU
ItSO
liSO
18,707
581
17.835
1.130
370
1.173
lt6l
lt6l
3110
3I10
17.385
1,U11
17.9'«
2lt8
(Continued on following page)
l|lt5
262
"•17
itlt5
262
Treasury Bulletin
9b
m
Poeition
Foreign Currencies as Reported
fty
Banks and Bankers In the United States - (Continued)
Table 3.- Purchases and Sales of Foreign Exchange (Spot and Forward) - (Continued)
(In thoi3saada of dollars)
Corrsncy of:
orope
Traneactioiis
(continuad on folloylne page)
during moDth
Total
Buropa
Total &!•:
IjUS-iagnat
Septoaber
Spot
Forward.
Spot
20.791
3.139
53.167
6.29s
lt6.87l»
.
.
Formrd-
Unltal
ElD^doa
1*0,1*21
650
3«3
118
267
5. 1119
5.UI8
Ootober
Spot
Forward.
78.309
15.307
37.995
8,105
28.811*
7.712
12
BoTam^ar
Spot
Forward.
83.516
17.775
1*9,663
1)0,1*32
3'*3
212
9,091
8,958
Spot....
Fbrward.
85.133
I9.3te
51.857
7,96U
1*1,192
516
36I1
Spat
Forward.
96.696
23.782
53.2U7
1*3.318
867
583
13,15't
13,051
1*
Spot ....
Forward.
98.862
61t.621
12.200
55.683
12.200
598
I9.29lt
127. Sit*
68.O9U
55.372
739
Deceober
19U6-JanTiar7
Fabmary
March
Spot
Forward
261
7.209
May
Jnno
July
23.695
llt,958
130.055
19.599
66.797
5"*.
299
12.019
1,118
12,lltl
Spot
Ibrward.
121*,
190
75.3'«
10,223
61,123
10,077
1.M89
Spot ....
123,222
23.010
6g,9i»3
56.1*71
12.120
11,856
Spot ....
Forward.
159.020
75.915
107,1011
87.398
65.77U
6U,38lt
10,951
517
l''.937
Spot....
Forward.
Forward.
IprU
83
16,965
9
1.119
677
ales to banks;
16
Spot
Forward.
22.635
2,180
13.309
1.71*1
1,71*1
September
Spot....
Forward.
It3.818
25,715
3.905
13
&.8O6
27.278
3.905
October
Spot
Forward.
3it,29l
15.775
12, 971*
73
8,129
i*,lt23
l*.077
loTember
Spot....
Forward.
33,132
8.010
3U,U99
8.259
17,885
75
77
18,922
5,112
15.551
U,720
290
75
19,137
3.990
16,195
3,877
82
U
17
2't,50U
21,672
6,110
106
271
22,997
8,U51
in
250
25,028
7,060
UU7
179
1*38
1*21*
19lt5-Aaguot
Daoasber
.
.
.
Spot
Forward.
Spot
5,21*8
Forward.
37.088
6,220
February
Spot ....
Forward.
36.936
7.919
March
Spot.
Forward.
52.259
13.510
April
Spot
.
A)Tvard.
56,615
10,219
29,5't5
May
S^ot
Forward.
52.157
3l.5'*8
9.3'i9
7.212
26.U53
7.080
June
Spot
Forward.
30.367
6.275
26.585
6,011
2l*6
165
July
Spot
.
Forward.
53.182
8.919
68,826
1*6,329
601
300
28,llt9
25.203
1*0,773
2l*,72l
9.81*0
19^t6.^anQai7
.
.
.
.
.
.
.
.
. .
. .
6,110
7.161
7
Sales to others:
19U^iueust
262
367
1,1*15
1.398
19.596
1U.706
1.513
105
253
22,220
3,682
15.81*0
t3
3.635
188
12
25.221*
268
135
16,800
Spot
Forward.
September
Spot
.
Forward.
.
.
32,162
lt,820
1,511*
October
Spot.
.
Forward.
1A,018
7.178
oTasber
Spot
Forward.
50,38U
9.765
31.778
3.81*3
3. 718
December
Spot
Forward.
50.93^
11,081
32.935
2,852
25.6U1
226
289
Spot
Ibrward.
59.608
17.562
31*.
110
785
566
9,17t
27,123
9.17U
February
Spot
Forward.
61.926
11.375
1*0,117
3l*.011
1*92
2l*6
6,090
6.090
Naroh
Spot
Forward.
75.289
10,185
562
1*79
April
Spot . . .
Forward.
73,'rto
37.252
29.271
671
501
9.380
i*,9go
>*,959
9
U3.792
3.011
31*. 670
1,051
695
38.576
29.886
1,152
512
19116-Janaary
.
..
.
.
.
2,1(89
2
May
Spot
Forward.
June
.
Spot
Forward.
70.oto
111,091
5.81*5
5.81*5
July
Spot , . .
Forward.
90,19't
117,766
60,775
1*0. 571
1*6.625
.
.
2.997
39,663
i,6oi
6k
.
December 1946
97
Position in Foreign Currencies as Reported by Banks and Bankers in the United States
Table 3,- Purchases and Sales of Foreign Exchange (Spot and Forward)
-
-
(Continued)
(Continued)
(In thousands of dollars)
Currency of:
Suropa - (continued)
Transactions
during month
Other
Surope
Japan
1/
Total sales:
19U5-Jb]euBt
Septemtar
Spot
Pbrward.
Spot
6.189
17
169
15.987
2.991
2.728
U,><89
1U7
21.61)1*
2,1)17
1»,052
88
D7
1*7
180
31.202
6.956
3,11)6
1.331
1),U80
1.331
56
1,220
fonari.
October
Spot
Tbrvard.
i.Tue
3U6
5.579
Hjvember
Spot.
1.3't7
December
Forward.
Spot ....
Porvard.
igUfi-Januaiy
February
March
^rll
.
July
Sales to bajoks:
19U5-togaBt
September
5.723
26U
2U.2l»3
8.328
23.1)72
10.171)
3.1»t5
1.T51
99
1.982
5.3*»
I.65U
662
2lU
Spot ....
Forward.
Spot
Forward.
Spot
Forward.
Spot
Forward.
U,663
19U
6.759
5.70I1
2.319
19
2.1U5
101
3.129
132
2.309
Forward.
Spot ....
Forward.
Spot
Forward.
BoTember
Qeoenber
19lt&-Jamiaiy
J^bruary
March
i^rll
May
Juna
J\lly
56
2.800
122
1).795
1».795
1.262
6.281
2.008
1.262
6.272
2.0O8
670
la. 1)52
lt,387
8.1)1)5
8.1)1)5
6.557
1)28
585
l)i).875
1.752
7.372
2.162
7.537
307
7.562
1.859
8,181
1.71)3
1.752
7.372
2.162
7.537
307
7.562
1.859
8,181
1,7U3
5.270
5.2U5
I.22U
29.1)80
5,23'»
5.516
U16
6.139
35.016
31.188
5.350
123
5,900
530
5.659
1.180
311
209
209
292
170
170
387
218
218
302
163
163
593
250
250
5
877
182
608
6O8
6ll»
i.sn
1.577
1)31
i.31
522
1.1)00
1.1)00
530
65U
8.1)68
9.U96
882
7.355
Spot
759
ll),18l4
1.023
15.799
3.703
12.618
2,762
I2.U56
3.162
.
1,220
2,800
122
1.015
U.SIO
969
5.100
630
1)39
Ftorward.
October
1,271*
29.616
8.373
18.683
U.U37
Spot.
Forward.
.
1.271*
356
5.725
8
May
June
187
1.132
52
.
985
110
1)1
901
Spot ....
Jbrward.
Spot ....
Forward.
Spot
Forward.
3^
689
1.200
8
667
1.018
899
99
1.076
Spot
Forward.
Spot
Forward.
Spot
Forward.
Spot ....
Forward.
Spot
Forward.
Spot....
Forward.
Spot ....
Forward.
1.311
U88
392
U9
1.01)6
36
1.781
67
1.076
19
976
1.968
20,111)
U.5IO
1.031
112
21.67!)
632
530
65U
877
923
1U.67J
927
991
991
2,031)
1,1)08
90
17.068
53lt
1.326
lUe
38
15.793
103
1.27U
53
1.191
103
53"
133
1.102
9U
101
i.;i6
132
1.072
26U
13.775
2.058
7.838
1.378
3.058
2.1*58
W7
2.1)52
133
1.102
9I)
532
5.307
17
119
8,632
2.552
2,1)17
776
110
776
110
Spot
Forward.
263
3.730
128
7.'t6o
i.ioi*
l.lOl)
1)7
U7
October
Spot.
996
l.,556
136
15,1)03
1,11^
^•^^
Hoveober
Forward.
Spot ....
Forward.
2,125
88
2,759
187
1).178
September
Deconber
19^-Jaimary
Februaiy
.
3.151
.
6;8
200
••.707
1.166
270
U.073
165
906
Spot
Pbrward.
Spot
it.523
U6;
52
852
Spot
Forward.
3.617
158
10.81)5
3.059
21.338
Ftorward.
March
iprll
May
June
July
Spot
Forward.
Spot
Forward.
Spot ....
Forward.
l,2U3
>t.978
603
1.169
U.623
'173
1.613
U.368
Spot ....
Forward.
Spot ....
1.237
U.IOS
Be^nning with July
of Japan.
1.057
1,057
2,852
1,010
2.550
122
3.633
787
U,U86
630
3,865
l).ig7
1.577
2,550
122
U,187
1.2$2
».695
1.5T7
7.01)5
7.01*5
1.222
6,718
2.162
1.222
6.718
2.162
6.51)6
6.5W
307
307
7.028
1.726
7.079
I.6U9
356
2,0l»7
2.UUU
7UU
191*6
8.170
1)28
23.201
2.212
1».195
301
ll».g07
i),307
U,105
Fbrward.
1/
3.253
11.625
5.566
11.016
7.032
15.8U1
6.315
1)1
326
17.9')«
20
U,626
1)00
6.010
15.395
2.898
76
Manchuria la Included with China Instead
26
"»77
l),D68
1.077
1.262
i),70l*
7,028
1,726
7.079
I.6U9
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
.
Treas.
HJ
U.S. Treasury Dept
10
Treasury Bulletin
.A2
1946
C.2
1
iilH^^^^^
0031949
@FedFRASER