Full text of Treasury Bulletin : February 1939
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i Cupv 1^ toow 5030 jsj o. i RSFERENCE To be used in Treasury Library BULLETIN OF THE TREASURY DEPARTMENT FEBRUARY 1939 Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics TREASURY DEPARTMENT OFFICE OF THE SECRETARY BULLETIN OF THE TREASURY DEPARTMENT FEBRUARY 1939 Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics TREASURY DEPARTMENT OFFICE OF THE SECRETARY Table of ContentB 1-5 Bases Used in Statistical Tables Receipts and Expenditures First Seven Uonths of Fiscal Years 1934-39 Expenditures by Classes, Receipts by Sources Social Insurance Accounts Cash Income and Outgo 7 " &-13 1* ^^ General Fund and Public Debt ^^ ^° Composition of (Jeneral Fund Public Debt Accounts Treasury Bill Financings Composition of Public Debt Holdings of Sovenunent Obligations Computed Interest, Yields on Public Debt Issues Government CoiT5orationB, Credit Agencies Assets, Liabilities, Proprietary Interest Issues Outstanding, Financing Operations Sources and Uses of Funds 1® so "" 22 24-26 28 29 30-31 Capital Uovements Summary Tables Short-term Foreign Assets and Liabilities Security Transactions, etc. Foreign Exchange Transactions 33 34-35 36-37 ''° "^^ Other Monetary Data Gold and Silver Stocks Silver Production and Uovements Foreign Exchange and Price Data Miscellaneous Quotas Under Commodities Imported Law Enforcement Statistics 42-43 43-44 45-47 *9 Bases Used In Statistical Tables In a footnote Beginning with this Issue, the Bulletin will attempt to state table Is compiled. that which on or headnote to each statistical table the basis from slightly differ may table one In figures Because different bases are used that Indicate to seem would classifications the figures inanother table although shown In collections tax Income Instance, For same. the figures should be the Income tax figthe with exactly agree do not tables revenue the detailed Internal figures differ because ures shown In the summary table on a preceding page. These submitted by collectors of the detailed revenue tables are compiled from reports are on the basis known Internal revenue whereas the figures In the summary table will attempt explanation as "Dally Treasury Statements unrevlsed." The following bases. to set forth the differences between these various of current assets and Dall y Treasur y Statements unrevlsed . The statement the Treasury Departwhich debt public liabilities, receipts and expenditures and from mall reports principally compiled Is the Dally Statement ment publishes and depositaries officers Treasury by States sent to the Treasurer of the United day are a comgiven any for statement this on throughout the country. Figures Dally StateThe that day. on Treasurer the by received posite of all the reports transpired actually which transactions the all show not ment of a given date does to the reported were which transactions the all Instead shows on that day; It rethe Instance, Treasurer and cleared through his accounts on that date. For agent fiscal Francisco port of receipts or expenditures clearing through the San and would, thereWednesday until Treasurer the by received be not might on Monday transactions are the although fore, appear on the Dally Statement dated Wednesday public expenditures, and receipts dated Monday at San Francisco. Most of the compiled are Bulletin this in tables asset debt, general fund and gold and silver from the Dally Statements unrevlsed. If the report of a transaction which Dall y Treasur y Statements revised . month or a fiscal year Is not received a of last days the took place on one of will appear in the untransaction this date, later some by the Treasurer until year instead of appearfiscal month or succeeding the for Statement revlsed Daily a Government depositary. ing in the month or year in which It cleared through transactions In the these place revised to are figures Statement When the Dally is designated as month or year In which they actually occurred, the revision reflects all basis In other words, this "Dally Treasury Statements revised." or year month given a during transactions occurring at Government depositaries WashingTreasurer's the through without regard to the time the transfers cleared m ton accounts. -1- Reports by Collecting Officers . In order to publish Information on revenues by Itemized sources, the Treasury, once each month, obtains from collectors of Internal revenue and customs a detailed statement of collections. These officers report their collections en the basis of the money which they actually received during the month or year In question. Therefore, monthly or yearly totals reported on this basis will not tally exactly with either the Dally Treasury Statements unrevlsed or revised. For Instance, funds which a collector received on January 31, and which he Included In his January report, might not appear In the Dally Statement unrevlsed until some time InFebruary when the report Is received by the Treasurer of the United States. On the other hand. If a collector received certain money before the end of January but did not deposit It with a Government depositary until February that sum would be included In his January report whereas it would not appear In revised or unrevlsed Daily Treasury Statement figures until February. Figures on receipts on a collections basis do not reflect all payments made Imnedlate reto collectors at rush periods when some mall may not be opened on trust items certain Includes basis "collections" the ceipt. On the other hand, TreasDally on the Items revenue special and general the in which do not appear detailed by revenue internal on tables historical and Current Statement. ury sources are the only ones In this Bulletin compiled from collectors' reports. Other Bases . Some tables In this Bulletin are compiled from special reports In these instances the Treasury itfurnished to the Treasury by other agencies. self Is not the original source and the tables usually are labeled "On the Basis of Latest Reports Received by the Treasury." In other publications, the Treasury uses certain other standard bases for compilations, the most Important of which is the "warrants issued basis." This Bulletin contains no tables which use these other bases, but an explanation of them can be found in the Annual Report of the Secretary of the Treasury for the fiscal year ended June 30, 1938, pages 351-353. Cash Income and Cash Outgo. The statistical series on Cash Income and Outgo had never been published by the Treasury prior to the first Issue of this Bulletin. The series Is still in an evolutionary stage. The removal of trust accounts from the Daily Statement summation of receipts and expenditures, the growth in importance of the social insurance reserve accounts and the removal from the Daily Statement summation of agencies financing themselves - all these changes, which have been made in recent years, have changed the character of the Daily Statement figures and given rise to a need which these cash Income and outgo figures are Intended to fill. The intention Is to make these figures reflect three things: (1) all cash disbursed by the Treasury, including cash redemptions of adjusted service bonds, but excluding cash disbursed to redeem other Treasury bonds, notes, etc.; cash redemptions of adjusted service bonds are included for reasons given below, (2) all cash received by the Treasury exclusive of cash received from public sales of Treasury or Government guaranteed obligations, and (3) the excess cash Income or outgo on this basis. Because the Treasury books are not on the strictly cash basis which these figures contemplate, this series has had to be built up by amending and rearranging figures which appear originally on the Dally Treasury State- nents unrevleed. The system for making these rearrangements has been only tenIf changes In the basis for compiling the figures are detatively worked out. cided upon, these changes will be explained as they are made. The method tentatively decided upon for deriving the cash Income and outgo figures from the Comparative Analysis of General and Special Accounts which appears on page 2 of the Dally Treasury Statements Involves the following principal changes In the Dally Statement figures: (Adjustments In receipts figures) General and special receipts on the Dally Statement are reduced by the (1) amount of Interest received on certain Governmental corporation obligations purchased by the Treasury because these transactions are Intra-Governmental. Trust fimd receipts are included in the cash Income total on the fol(2) lowing adjusted basis: total trust fund receipts minus (a) the non-cash receipts of the old age insurance and railroad retirement accounts, (b) Interest credited to such accounts, (c) the interest credited to other trust accounts having their funds invested in special Issues, and (d) non-cash receipts of other trust accounts; none of these items are cash Items. The Analysis on page 2 of the Daily Statement includes no trust fund receipts. (Adjustments in expenditure figures) The cash outgo total does not Include the Dally Statement expenditure (1) Item known as "Transfers toTrust Accounts, etc." because these transfers are not cash transactions. The cash outgo total also excludes that ijortion of the Daily Statement (2) expenditure item for "Interest on the Public Debt" which represents interest paid to the old age reserve, railroad retirement, and unemployment insurance accounts and other trust accounts because these payments are non-cash. The cash outgo total differs further from total General andSpeclal Account expenditures because the cash figures do not include "Debt retirements (Sinking Fund, etc.)." Tliiis Dally Statement item is excluded from the cash figures for reasons explained in paragraph (5) below. (3) The cash outgo total also differs from total General and Special Ac(4) count expenditures because thecash figure includes trust fund expenditures (which are omitted from the expenditure total on page 2 of the Dally Statement) on the following adjusted basis: total trust fund expenditures minus (a) the non-cash "Investments" in the old age reserve, unemployment trust, and railroad retirement and other trust accounts, and (b) any funds deposited Inor withdrawn from Treasury checking accounts as the result of open market sales or redemptions of obligations by self -financing agencies like the RFC, CCC, or USHA . The cash outgo total also includes cash paid out to redeem adjusted service bonds whereas the Analysis on page 2 of the Dally Statement does not show Issuance of the bonds cash redemption of the bonds, but Issuance of the bonds. Redemption of the adIs not a cash transaction whereas their redemption is. Justed service bonds is Included In these cash figures although cash redemptions (5) of other public debt obligations (mentioned In paragraph 3 above) are not. This distinction betvYeen adjusted service bonds and other public debt items is based on the fact that the bonus bonds represented an original payment by the Government whereas redemption of other publicly-held Treasury obligations Is a repayment of money previously borrowed. An excess of cash outgo arrived at on this basis represents the portion of Treasury disbursements which has been financed or must ultimately be financed throu^ net sales of Treasury or Government guaranteed obligations to the public. If there werenoexcess of cash outgo, the Government would not have to raise new money currently by public borrowing even though budgetary figures showed a deficit. An excess of cash Income shown by these figures would be applied against matured public debt Items demanding cash redemption and, after covering these 1tems, would Increase the General Fund balance or be available for debt retirement. This explanation should make clear the fact that the cash figures are In no way a true reflection of the Treasury's budgetary position. Even the subdivision of cash outgo labelled "Budget" will not agree with total Budget expenditures because of the elimination of non-cash expenditures from the former figures, and, therefore, the excess of "Budget" cash outgo over "Budget" cash Income will not correspond with the budgetary deficit. llie Government's budgetary position Is given, as it has always been given, by the Dally Treasury Statement figures. The cash Income and outgo figures are only Intended to measure the flow of cash, exclusive of borrowed cash, into the Treasury and the flow of all cash, exclusive of repayments of borrowings, out of the Treasury. Moreover, cash income and outgo figures should not be confused with statistics which attempt to measure the effect of the Government's receipts and expenditures on the general economy. This other type of data requires the making of assumptions about the qualitative effects of certain tax collections and disbursements on the national income, assumptions which the Treasury feels It can not make. Ca pital Movements . Statistics on International capital transactions and related foreign exchange market data which are contained in this Bulletin are compiled from reports collected pursuant to the Executive Order of January 15, 1934 and the Treasury Regulation of November 12, 1934. These reports come from all persons engaging in such transactions and having their principal place of business in the United States. Reports, however, are not required of persons (1) who did not carry, during any part of the reporting period, accounts abroad or in the United States for non-residents or (2) whose aggregate transactions, transfers, exports or withdrawals for their own account and the account of others do not exceed $5,000 during any seven-day period. The statistics covering the period from the beginning of 1935 through September 1938 were presented In a series of nine quarterly reports commencing in November 1936, entitled "Statistics ofCapltal Movements between theUnited States and Foreign Countries and of Purchases and Sales of Foreign Exchange in the United States." Statistics covering the month of October 1938 were published In the January 1939 Issue of the Bulletin. The current issue of the Bulletin contains statistics for November 1938; subsequent Issues will contain statistics for subsequent months. The statistics are classified by countries and geographical areas as follows: United Kingdom, France, Germany, Italy, Netherlands, Switzerland, other European countries (Including principally the Scandinavian countries, the smaller Central and Southern European countries, Belgium, and the Union of Soviet Socialist Republics), Canada, Latin America (including Mexico, Central and South America, and the West Indies), the Par East (Including principally China, Japan, NetherlandEast Indies, British India, Straits Settlements, and the Philippine Islands), and all other countries (Including principally Oceania, Africa, and the Near East). Since the International movement of capital consists of transfers of ownership of balances, securities, and other claims and equities between the United States and foreign countries, the distinction between domestic entitles and foreign entities is important. In all of the tables banking Institutions, security dealers, other concerns, and persons are regarded as domestic, whatever their nationality, if domiciled within the United States. Conversely, banking institutions, security dealers, other concerns, and persons are regarded as foreign, whatever their nationality, if domiciled outside the United States. Thus, the branches in the United States of foreign banking institutions, security dealers, and other concerns and entities are regarded as domestic, while foreign branches of domestic banking institutions, security dealers, and other concerns and entitles are regarded as foreign. The various components of the statistics of capital movements and exchange transactions are described in greater detail in the explanatory notes published in the quarterly reports "Statistics of Capital Movements between the United States and Foreign Countries and of Purchases and Sales of Foreign Exchange in the United States." RECEIPTS AND -6- EXPENDITURES Sumnary Tables on Receipts, Exi)endltures and Public Debt (Id mlllionB of dollars - on >>a9l8 of dally Treaaury otataments, Tmrerieed.) Sumnary of Federal Receipts and Expenditures . 9 Federal Expenditures - Recovery aitd Relief (In alllloBS of doll&ri - o& batlt of dallj tfrnturj tataaent, uaraTlaod) PiAlle «erka, Incliidlac vsrk rallaf ParloA «PA Aid to hoaa ownara icrleol- twal Rallaf Tot«l lid Othar Mtaoallanaooa 7iaoal /aari anded J>aaa 30 1932. 1933. 193U. 19351936. 1937. 193«. 125 685 (•) U9U 816 7«h 8.70 3.369 3.W1 1,26U 1.896 l.'t72 7Ul 3U2 1U7 153 196 103 105 lU? 23 22 20 ipr.. Hay., Jona. xe 1U6 21 206 JiU ill 25 29 Jnl7. 216 236 172 193 Sapt. 21*3 l9i« Oot. lOT. Dee. 262 ZUS 307 207 19U 219 3« 36 1939-J«n. 257 IS^ 59 J.073 3.23s 193g.jaa. Mar. 1/ 2/ » ) ( ,«W» 1/ l»9 ,3U«1/ l<8 985 1/ 78 6 170 2/ 36 (U) 7 16 17 23 3 9 7 11 3 102 2/ 26 2U 36 195 loU 215 298 2l« 500 303 182 23 20 17 (•) 15 10 9 3 9 u 13 10 11 73 lU (1) Includai fuadt expanded for Oirlllan Coaaarratlea Oorpa dnrlsg these tt». Includei $9^^.000.000 restoration of capital ii^alrsent of Coamodity Credit Corpor a tion. Late than $500,000 ladleataa exeaaa of eradlta. deduct. Federal Expenditures - Revolving Funds (Net), and Transfers to Trust Accounts, etc. (In alllloaa of Aellara - oa baala of Sallj Iraaenry etateaeat, nareTleed) BarelTlBg Period fuda (aat) i«rl cultural Aid total Tranefara to truat aceountOt ate. Pulille Total Vorke Adjusted Bailroad Serrlee Betlrenant Oertlfloate Account 01d-A«a Keeerre Account OoTeraaeat laplojeee* Retlraaent Funda (U.S. share) Tlscal yeara ended June 30 62 1932 1933 193U 1935 1936 1937 1938 it96 3"^ 11 20U 121 62 7U 3U6 lUl (33; (IB (13 U 17 18 1938-Jan Feb Mar 150 20U UU 222 13U *r June.... . . *a« Sept Oct loT Sec 1939-J»a • ( ) 5f 56 58 19 •tax July. 71 l.SlU 868 607 l« 17 18 Leas than $S>0.000 Indleatee ezeeee of credits. 200 IQO 50 50 221 121 71 556 265 387 i'»7 hi Ul "3 15 15 15 11 2 8 ll 12 ll 2 13 1 1 5 6 lU 135 11 "^5 22 10 12 X3 10 10 11 7 8 6 8 (•) 1)8 MS U8 39 12 16 16 • 10 Collections of Internal Revenae Wtlt (Im t3w«uadt «f 4all«rs - sb of nporti of MllcetlOBi) aoalal laavttr t»tel Parted 3.o>io.l46 2.)tSS.229 1.557.729 1.056,757 833. 6M U27.191 1.W9.839 7I16.79I 352.57>t 3911.218 2.672.239 819.656 1.105.791 W9.509 too.W 527.113 578. 67B 753.032 1,082,028 1.336.901 3,520.20s ».653.i?5 5.658.765 Mw.. 305.3«« 280.601 916.9U5 ipr. 302, U76 »tay. 277.765 7U7.295 1938-Jui.. 315.8H5 W 265.7"J5 7H2.660 58.119 90.267 '15.957 21.839 31.39* 2.358 15.7W 111.781 25.727 1,016 70.092 56.957 H.328 6,1)10 I1.78U 292.757 91.283 73.859 U.927 592 12.118 7 30.92'» 21.8lt5 77.707 85.736 61,026 65,608 5. 181 11.500 12.7611 l'».6l9 227.573 267.979 2.86I1 2,07'» 5.509 779 7.287 1>».939 l2.6i»7 715.601* 1103.635 >I8,805 ie,>t92 l"».905 33.900 17.839 257.986 211.653 11.999 >t2.l62 9.>t68 36.U91 12.513 213.622 >t6l.509 32.69U 23.978 267.887 32.531 19.067 51.598 8I.5O8 81.979 2.939 98.992 sift Aleoholio boToracoo tobacco 6it.6oi 2,Ulii 11.731 >183 Hz 59.035 25.150 i^.WT tvraro' ozelooo 4«rlenltnral Oajnat onrleb- Nlaeallaaeoua Adjwt- •at aat 2/ 30 61.897 193l». 873.01)8 I.ll81,l60 258.911 1935. 1936. 1937. 193«. 1.667.923 2,0a. 075 2,207.608 2.287.075 31.310 113.138 212,112 378.8110 505.1)611 137.1)99 139.3'»9 I)l6,87l) 567.979 1938-Ja« 168.I1OU 289 1)0,851 fat. 139.290 196.277 2D 21.605 62.686 33.007 33.005 162.061 160,952 190.879 166 Mar J»r.. 228.760 2U1.655 Jslj. tag.. fcpt. 183.1)31) Oct. 191.13'» •T. I85.659 Sac. 177.01)1 1939-Jaa \r^^\':^ Jtibo 16, l61),858 6i>.770 1)8.078 1)7.1)22 80, 168 91. 508 9U,9l)3 2l)7 11)2 275 1)11.022 ll),026 87.*96 1*7.156 108.19* 92.132 98.289 131.70* 6,073 6,217 32.798 29.137 26.71* 12.61)3 267 11,780 12.*11 1.59* 12.931 11.396 12.787 ^2 1.036 286 698 2U7.75I 390.038 3*2.275 379.5*0 M9.85* *l6.75* 37l.*23 526.222 71.637 *3.583 *9.633 5i),0U9 ^.862 3.*53 2.928 2.9*8 3*. 367 203 U7.*6l 5*.*32 50.952 3.373 U.078 3.029 3I)* 3U,3i)l 30,**! *5 3*. 050 1*.675 12.520 13.962 *6,29i 31.517 31.399 31.087 15.060 15.2*8 12.951 257 U3.8I5 3.592 *,212 3.895 *7.359 3.831 3*.355 13.03* 397 ii3,U50 112.035 111). 52,522 2.552 36U 322 37.519 5U.603 57.573 51.270 27.828 3*.322 25.010 18.310 3.586 2.91* 52,1)1)0 300 138 l),0l)8 27.296 22. S** 33.701 31)1) 39.90* *7.855 25.61)5 29.32'l 166 1)50.339 liW),277 1)1).768 50.822 60.362 11.653 :r"i?rcti«.'^« i^":^:; u. 1933. 10,1)32 8,701) 1)3.17* 5911. 21)5 25.526 2D.923 38.550 6*.l73 77.729 *6.95* 398.579 32,2*1 102.739 57.578 U25.169 66,580 U59.17' *3.133 68,990 501.161 .25* 69.919 568.182 *6.233 1)311.1)1)5 12.777 11.695 607.780 629.887 568.189 500.972 1929.. 1930.. 1931. 1932. 1933. II axtag 11 r—i Mdtd riaeal Jmw Ctfltal itoek I)i9.>i76 3.>«70 •10.793 Namfaetotal 287 207.339 502.917 Nloeollaaooiw latonal BoroBno P*rlea of 1937 83.5*2 72.036 32.168 27.991 311.969 '«.923 3^.609 '•95.5M 315.061 304,572 662.252 1939-J»»- 2,173.769 2.622,813 550, 7U3 682,5<)>> or. Dm. 67lt,>>l6 1,091.7^1 1,286.312 E:'7S 362.286 Oct.. I,lt27,)>>t8 21.007 350.'t26 Jal7. Anc.. 8«pt. ntio iz tltla Till i.263,i»w 1,026,393 629.566 1.116.8115 1,860,0>I0 3.299.'»36 Oarrloro' <*«* Culac Aet total 1.095.5'H 2.331.27H 2,UlO,2J9 2.939.0* Corper»tloa 1/ ladlTldaal total 1929-. 1930.. 1931.1932.. 1933-193*. 1935.. 1936.. 1937.. 193«-. Cu*a F^rroll Ia«*M aid Pr*f Itt i)7,2l)U 38,151 of 1937 '17,539 «* «*« th. 27.727 3i.*08 di,iw. tax i^...* ^ t^. 1)91 7*6 11113 763 u. .f ,. , . 11 Collections of Internal Revenue (In thonundt of dollart - on tsali of report! of eolloctlona) January July Sonroea of Revanue 1938 1939 Incosa taxaa: Oorporetlon Currant Back ladlTldual Cnrrent Back beaaa-proflta. Total laeoae tazea. 1 - January 31 riBoal yaar 1939 rieeal y«ar 193s 560,068 72.171 502.31't '•8.839 5.87S 25.819 12.305 18.72'i 572.285 8U.9«3 5.^53 10.01(3 U57.IOU I3,6lli 10,965 1.138 '19.902 g3U 20.565 12,992 51.598 53.175 1,1SU.839 1,196,38U but on tmjuat anrlcbaent. 397 267 Mlaeellanaooa internal roTanna: Capital Btock tar. latata tax aift tai 300 3.882 2,596 126.375 199.212 138,21)6 239.52it 1.3U7 289 39.623 1.269 u.eA 't.263 1.523 1,732 i6,30U 19.599 s6Ml Ucohollc berera^a taxaai Dlatlllad apirlta (laportad. exclaa) Distilled apirlta (doaestlc, exelae) Dlattlled apirlta rectification tax Vlnee, eordlala. etc.* (laported, axclae) Vlnee, cordlale. etc.. (doaeetlc, exelae) Brandy need for fortifying aweet vlnea Daalera In dlatllled apirlta; reetlflere; manufacturera of atllla (apecial taxea) Staapa for dlatllled apirlta Intended for export Caae atanpa for distilled apirlta bottled in bond Container otafflpa floor taxes feraented oalt llqnora. . Brewera; dealers In malt liquors (apecial taxea). . Total alcoholic beTera^e taxea Tobacco taxeai Clgara (large) Clgara (anall) Clgarettee (large) Cigarettes (small) Snuff Tobacco (chewing and smoking) Cigarette papera and tubea* Leaf dealer penalties, etc. Total tobacco taxea. 18,155 lll.021 157.U98 l'»3.389 760 636 6.786 7.151 31 26 337 366 379 US 100 ee 95 £/ >/ ^7 35 535 615 15.936 3.676 372 >«.56l« 3. ''55 301 U.67S •/ I5.'tl3 260 5.831 U.510 151.203 108 6,129 8 163. 37U U7 2, life 2,678 38.151 33.007 353.803 351.236 796 762 12 1 1 >H.589 576 39.176 527 7.61A 67 12 293.032 3.985 7.788 11 II 292.770 3.89U "•.269 ii.zou 117 86 32.276 831 31.123 671 S/ •/ 1 1 >7.359 U1I.768 337.8iig 336.3W* 1939 taxea: Lubricating oila Oaaol ine Tirea and Inner tubea..... Automobile tmcka Other automobiles and motorcycles Parte or accaaaorlea for automobllea Klectrlcal energy Badio aete. phonograph recorda. etc Mechanical ref rlgeratore. rirearma, sheila, and cartrldgea Piatola and revolTere. . . .. Toilet preparatlone. etc., (Including repealed 5* tax) Matchea (Including repealed taxea) Brevera' wort and malt (repealed as of 7/1/38). Articlea made of fur (repealed as of 7/1/38). Sporting goods (repealed as of 7/1/38). Cameras and lenses (repealed as of 7/1/38). Chewing gum (repealed as of 7/1/38). Total manufacturera' exelae taxea Mlscellaneoua taxea: Bltumlnoua Coal Act of 1937 Sugar Act of 1937 Telephone, telegraph, radio and cable facllltiea. leased wlrea, etc. Tranaportatlon of oil by pipe line Leaaea of aafe-depoalt boxee Admlaalon to theatera. concert a. cabaret a. etc. Club duea and initiation f eea Adulterated and proceas or renoTated butter, mixed flour and filled cheeae. Oleomargarine, including apecial taxes Barcotlca. Including marihuana and apecial taxea. Coconut and other vegetable olla proceaaed Bational flrearme Act All other, including repealed taxea not Hated aboTa Total mlacellaneoua internal roTenue l.TiM 1.63U 11,816 12.786 1.650 1.803 382 11,320 2,5110 12.397 2.391 19 S6 116 U61 2U9 3.831 U.QltS 26,011 Uaa than $500. yaar 1938 OM 2.211 16.532 1.275 559 18. 962 126,65s 18. 631 2,727 129.528 21.517 U.226 5.762 U.306 16.923 29.1*27 723 3.6U1 70lt U.UTU 22.6UU 5.375 21,968 3.253 2.500 5.2lti* 3.308 20, 576 282 368 191 6 30 2,107 5 3'^ 791 1.371 6,893 9.8M0 It 118 122 3,1)88 2/ 13 9 321 2,182 55 23 509 260 U.ISU 15 825 71U 3.910 2/ 121 180 858 S/ 79 106 613 3'».355 32.798 227.197 267.21*2 361 5.3U5 361 •.915 1.962 Uo,6U6 1.995 8.90U 2.27U 2.131 lU,326 l't.655 792 I.0U5 6,318 7.l^88 172 158 1,082 1.102 1.56U 1.353 11,879 12.807 375 355 3.310 3.603 1 2 15 lU 9U 13U 1.551 1.686 20 20 ?lt8 272 2.017 •/ 2.012 15.869 2/ 5 16.951 6 19 116 2I10 876 I3.O3U 12,602 97.'t5i 70.359 I6U.858 168, UOU 1.372.5U1 l.U37,6l8 59.035 "•5.957 3lU,oitO 3ltl),798 25.150 21.839 U9,lso UD,728 67.796 363.160 389.526 15.7't6 68.565 107,558 Payroll taxea: Social Security taxee (Social Seciirity Act): Taxes with respect to employment (title Till). Tax on employers of 8 or more (title IZ).... 2,71>t Total payroll taxea 30.1IOU Total Internal rerenua.. S/ yaar 1939 2.199 l6,U30 3.185 527 Carriers Taxing Act of 1937. Total documentary, etc. ataop taxes nacal riaeal 1938 Total Social Security taxes 210 July 1 - January 31 fllacellaneoua internal revenue - continued Manufacturera* excise taxea: Total mlscellaneoua taxea Socuaentarr, etc., atamp Bonds of ladebtadneaa laaoaa of capital atook. daada of coaveyaaee. ate. Capital Btock and aloilar Intereet aalea or tranafera Playing earda Sllrer bnllloa ealea or tranafera flalaa of produce for future dallTeiy (rapealea aa of 7/1/38) January Soureaa of BaTeooa 98.992 83.5'a •31,725 U97,Ogl» 315.8U5 305,388 2,992,987 3.133.682 IS Customs Duties and Taxes Estimated, and Value of Dutiable and Taxable Imports, by Tariff Schedules; July - November, 19381/ (In thousands of dollars) MoBth 15 Estimated Receipts from Taxes ImpKased by Various Revenue Acts on Imports Into the United States; July - November, 1938 Article Duty-free artlclee l/: Crude petroleum fuel oil and gas oil derived from petroleum and all liquid derlvatlvee of crude petrolexun except lubricating oil and gasoline or other motor fuel Gasoline or other motor fuel Lubricating oil Faraffln and other petroleum was products.. Seed oils 01 1 seeds Animal, fish and coconut oils Copper Lumber of specified types Coal and related fuels Bate of tax Au^st July y «^. $503,06? Weal. 02,522 Sif gal. *< eai. 1^ lb. lW# lb. Various 2/ 3# lb. U^ lb. $1.50 M ft. 10/ 100 lbs. ^ Total $817, U20 Dutiable articles U/: Cane sugar Cane sugar (from Philippine Islands) Beet sugar Artlclee composed In chief value of mEuzufactured sugar Fuel oil and gas oil derived from petroleum and all liquid derivatives of crude petroleum except lubricating oil and gasoline or other motor fuel Lubricating oil Paraffin and other petroleum wax products.. Seed oils.. Animal, fish and coconut oils Coconut oil Copper Lumber of specified types Total Various 5/ Various 5/ Various t535.6«5 S5.754 ^ .511»lt/ lb. 6/ i# gal. gal. lb. l^ff lb. 3/ lb. 5/ lb. Various Jj $1.50 H ft. 2/ i.siS 1 •»/ U 1.363 69,706 1,126 13,>t59 21,107 729.^17 Orand total 1.5^,837 $320,672 Septemlier Oct oiler November 14 Receipts and Expenditures under Social Security Act (Is nlllloae of dollara - on tatta of iBilj Treatnrj etatenenta, nnrerleed) naeal Tear 15 Cash Income and Outgo of the Treasury Fiscal Year 19391/ dheae figures are not Intended to reflect the biid^etary position of the Government. They will not agree with budgetary figures on receipts, expenditures and deficit such as those appearing In Dally Treasury Statements and In other tables In this Bulletin. For an explanation of the revisions made In Eblly Treasury Statement figures to arrive at this cash series, see the text In this Bulletin.) (In millions of dollars) CASH INCOME AND OUTGO AND NET CASH OUTGO January 1934 to Date DOLLARS" 1934 1937 1936 1935 1938 1939 DOLLARS Minions Mill ions 1.200 1,200 Cash Income 1,000 BOO 600 J MMJ S NJMMJ II NJMMJS NJMMJS NJMMJSN NJMMJS ) S I I I I I I I I 1,600 Cash Outijo- 1,400 1.200 1.200 1,000 1.000 800 400 200 JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN I 1,000 800 400 200 1 I 1 1 1 I I I I ' I I I ' I 1 1 1.000 GENERAL FUND AND -17- PUBLIC DEBT 18 Composition of Treasury General Fund (In mllllODS of dollars - on baais of dally Treasury •tatamanta, unravlaed) tai of month 1 1 19 Treasury Bill Offerings, Fiscal Year 1939 to Date (On tasls of Public Debt Serrlee sccounts) Bide p-ccepted Date of maturity Date of iBsue 1938-July July July July 6.. 13. 20. 27. 193S-Oct. Oct. Oct. Oct. Aa«. Aug. Aug. Aug. Aug. 3.. 10. 17. Hot. Hot. Hot. Hot. Hot. 2lt. 31. Uov. Hot. Hot. Hot. Hot. 5.. 13. 19. 26. 16 23 30 ( 91 92 91 91 189.8 210.0 187.8 265.0 100.0 100.2 91 91 91 91 91 289 303 285 2U5 251 100.3 100.0 100.5 100.1 100.5 100.2 229.0 218.7 260.9 279.9 1939-jan. U. Jan. 11 Jan. 18 Jan. 25 91 90 91 91 1*55.8 100.1 100.0. 100.0 100.5 2.. Ifa. 23. 30. Feb. Feb. Feb. Feb. Mar. 1. 8. 15 Ik. 21. 2«. Mar. Mar. Mar. Mar. 19 39- Jan. Jan. Jan. Jan. k,. 11. 18. 25. Apr. Apr. Apr. Apr. 7.. 91 91 91 92 91 8. 15 23 1. 5. 12 19 26 Hay 3.. ret). 8.. Mejr 35U.2 38U.5 10. %7.7 507."* Equivalent rate 1/ (percent) 99.991* 0.023 0.038 99 .988 0.062 o.ouu 0.0U7 50.0 50.1 50.3 99.988 99.988 0.01*8 0.0*17 50.1* 99.988 0.0U9 0.103 0.106 100.2 100.7 101.2 0.11*2 100. 99.992 99.995 99.995 0.032 0.022 0.018 0.026 100.0 100.2 lOO.l 100.2 0.027 0.022 0.027 0.026 0.021 100.3 100.0 100.5 100.1 100.5 0.017 0.013 0.006 100.1 100.0 100.0 100.0 99-989 99.97'* 99.973 99.96U 99.99'* 99.993 99.991* 99.993 99.993 99.995 99.996 99.997 99.999 100.000 0.007 100.1 100.0 100.0 100.5 0.002 O.OOU 100.2 100.7 U8g.8 37U.O 295.0 250.5 100.7 101.3 101.2 100. u 100.001 100.000 100.000 99.998 91 91 302.7 302.1 100.6 101.3 99.999 99.999 2/ 2/ Average Length of Maturity of the Interest-Bearing Public Debt, December 31, ig29-ig38 With Liberty bonds and With Liberty bonds and Panama Canal bonds comPanama Canal bonds puted to date of computed to original actual call maturity date Month! 1929->e. Tears 1930-Dec. 1931-Dec, 1932-Dec. 1933-Dec. 193U-Dee. 3 10 10 6 e s 1935-Bec. 1936-Dec. 1937-Dec. 1938-Dec, 7 11 Rote: Months 11 2 U 9 9 10 3 50.0 101.0 100.7 100.6 101.0 91 91 91 91 Tears 150."* 150.3 15O.U 50.1 Bank discount basis. HegatlT*. Date Amount of maturing Issue ( In millions of dollars) 0.059 0.051* 99.981* 100.2 100.7 100.5 100.3 100.3 399-'* 331.1 288.5 323.9 325.6 91 91 91 91 22 29 Feb. 1.. U25.7 320.3 297.1 Price (per hundred) 99.990 99.986 99.985 100. 91 91 91 91 9.. Average Amount In mllllone of dollars) 100.1 100.0 100.0 100.0 Dec. Dec. Dec. Dec. 1/ 2/ 2. 9. Total anount applied for ( In mlllioae of dollars) Dec. 7. Dec. lit Dec. 21 Dec. 28 Sept. 7. Sept. I'-i Sept. 21 Sept. 28 Oct. Oct. Oct. Oct. 5. 13 19 26 Days to maturity 6 10 11 1 7 7 8 9 7 11 9 3 10 ZxcluslTO of Consols. Postal SaTlngs bonds. U. S. Sarlcgs bonds. Adjusted Serrlce bonds and special Issues to GoTernment agencies and trust funds* AVERAGE LENGTH OF MATURITX OF INTEREST - BEARING PUBLIC DEBT As of End of Year 1930 1929 NUMBER OF YEARS > ( NUMBER OF YEARS 10 1931 1932 1933 1934 1935 1936 1937 1938 1939 20 Composition of the Public Debt (In mlllloBS of dollar! - on basis of dally Treatxuy stateBants, onreTlsed) _J - 33 Holdings of Direct and Guaranteed Interest-Bearing Obligations of the United States Government i/ (In Ikte lllioM of dollare) Q. o Si - xo a- Tj m 34 Amount of Interest-Bearing Debt Outstanding, the Computed Annual Interest Charge and the Computed Rate of Interest Ind of Month 36 ^^ o CO O ^6 o -/- / o o >« 2^ o ^ $! - o -< < CO o vO CO UJ UJ 7 •« GOVERNMENTAL CORPORATIONS AND CREDIT AGENCIES -27- Governmental Corporations and Credit Agencies of the United States: Dec* 31, 1938 (CtHDpiled Trom latest fiaports BeceiTed From Theee igenclaa) (In millions of dollars) Principal of Outstanding Obligations Guaranteed by the United States do mlUlosa fad of month of dollara - compllad f run r*port« raolred tj t)M tTcaaurj) 30 Statement of Sources of Funds of Certain Corporations and Agencies Maintaining Checking Accounts with the Treasurer of the United States: July 1, 1038 to Dec. 31, 1938 31 Statement of Sources of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to Dec. 31, 1938 (C«^ll*d ti»m lat«t report* reeolTod V tbo Traanrf) THE CAPITAL MOVEMENTS BETWEEN UNITED STATES AND FOREIGN COUNTRIES -32- 33 Net Capital Movement between the United States and Foreign Countries 1935 through November 1938 S4 Short-Term Foreign Liabilities as Reported by Banks and Bankers the United States for November 1938 m (iB thooj Mi d B Of dollarg) ClaHlfleatlon United Klogdon imd dat* TOTiL SMUKT-TZBH rosxias tiazLvnjsi Hot. 2 Tnmea 0«naar Italf •Uwr- Swlts*rItnd 353.ate 358.598 187.912 HOT. 9. Hot. Id. 3W.b23 373.327 379.480 20,024 24.373 19.b83 lb.S5b 18.8bT 21.853 22.b87 22.511 20,805 20,8b2 79.0b2 72,b5b 75.885 82.72b 94,940 218.727 21b.790 222.192 Hot. SJ. Hot. 30., 200,07b 195.787 198,273 182,657 182,410 194,940 191,029 193.581 19.641 24,027 19.185 16,453 18,330 21,595 22,438 22,199 20,530 20.533 78,160 71.662 74.893 81.589 94. 016 218.356 175.278 174,640 187,856 184.391 187.048 19.360 23.765 18,609 16,162 18.016 20,423 21.304 21.131 19.643 19.855 74.624 67.852 71.191 77.530 90,063 209.224 206,894 217 193 231 228 245 908 856 3,1U 785 645 513 3.000 3.375 3.260 b02 699 702 b84 b93 VOTAL LIABILITII3 PAIIBLI IH DOLUBS: Hot. 2. Hot. 9 Hot. 16 OT. 296.652 301,610 303,001* 311.657 23. HOT. 30 31'».175 Daposltt for foralgu aooounti Hot. 2. Hot. 9 Hot. lb. Hot. 23 Rot. 30 286,038 280.1«76 287.359 278,386 297.232 Bills taald for forol^n aooouBti Hot. 2 Hot. 9 Hot. 16...... Hot. 23. 187.32'* S.ltSb or. 30 2,93'» 9.007 9,2lU 8,706 8,318 1.494 512 512 512 512 512 2.966 2,966 1,616 11,615 5.919 2^.053 8,113 3.110 3.310 2.633 2,646 2,6b6 64 69 260 3^*5 63 69 279 ?38 161 56.59'* 5.055 4,914 5.136 4.758 •.692 383 34b 498 403 537 258 249 312 335 329 992 1.137 924 400 282 350 300 26b 406 395 523 159 17'» z 161 122 183 21b 3'»3 l.'»77 1.508 1.458 22b. 770 215.520 a6.573 2a .954 226.286 215.261 U,712 U,825 U,847 Other liabilltlee payable In dollars! IH rOEUOl COBBEHCUS: Hot. 2 Hot. 9 Hot. 16 Hot. 23 or. 30 56,988 i>l,619 U,b7D 65.305 Borrowings froa foralpi banks: Hot. 2. . • Hot. 9... Hot. 16... Hot. 23... Hot. 30... 28,474 30,875 32,120 Aeosptaneas made tqr foralfn banks: Hot. 2. Hot. 9 or. 16. Hot. 23. Hot. 30 35.3'«> 219 200 24,984 24,b08 26,059 25.555 25.906 4.465 4,398 4.525 4.294 4,256 4,307 3. 906 190 234 902 99'* 75 5T0 653 691 blO 725 Other liaOUltias payable In foreign onrrenoleoi Hot. 2 Hot. 9. Hot. 16. Hot. 23 Hot. 30 2fal ' 3.995 4.053 245 236 70 b3 127 113 73 158 180 179 184 124 234.712 231.571 234.730 245.673 233.368 11.138 11.750 10.722 2,484 2.409 tOUL LUBILITI2S PAUBLI 236,202 232. b72 235.827 24b,931 234, 4gb 8.397 8,777 9.997 2.97't 27't Xoropo 213 .'35 202,272 ao,7u held for forel^ Hot. 2. Hot. 9Hot* 16.. Hot. 23.. Hot. 30.. ToUl lorop* 221,834 218,148 222.118 232.509 220,466 Sbort-tem Unltod St&toa QoTenraent obll^tlons BCCOtnt! Hot. Hot. i.V.'.'.'.. '...'.'. Hot. 16 S>T. 23* ••••••«•• Hot. 30 Othw 735 11.627 Latin America Alt last All othar Brand total S5 Short-Term Foreign Assets as Reported by Banks and Bankers In the United States for November 1038 (Ib thoiuand* of lollars) ClaMlflcatlon •ad date 36 Security Transactions as Reported by Banks, Bankers, Brokers and DeattfTB In the United States, for November 1938 (In ttV)H««iHi of dollars) OlMilfloatlon and lhil««l woolc ondad m DsmD 10UL n Trnaam Bommr Ital/ •Uwr- hrttawr^ (Wmx kropo ToUl osopo I«tla iMrtca last 111 otbor Orand total H)Jfl/HA5E7 shhib IDB IQBIKH ACCOONTt Hot. 2 KOT. 9 >0T. lb. Hot, ?3 lOT. 30. 11,222 10.935 12.206 9.1»3l» 5.558 3.79b 2,822 5.371 2,980 1.873 115 40 157 93 52 4.13b 3.825 5.22? 9b 2,037 3.427 1.933 1.628 1.422 2b.939 27.045 31.925 23,558 2,300 5.548 5.949 b.978 5ib95 2.9bO 3.90b 2.948 4.588 3.204 1.977 4.80b 2.73b b.204 4.465 2.375 1.4b9 848 i.437 280 877 b4l 470 323 742 3.213 774 1.230 585 5b8 17 27 126 22 a4 2.708 2.7t0 3.119 3.739 l.bOS 17 20 119 22 18 2.521 2,543 2,924 3.587 1,451 3.b^ ll».211 7,995 5.248 b,539 7.160 5.135 1.297 1.553 1.582 1,18b 901 1.697 1.457 1.951 1.574 1,070 254 549 299 3I8 258 38,182 35.852 42,296 33.796 a. 575 24.211 lb,78b 28.873 20,210 11.856 6.505 809 1.610 229 33.364 3.537 4,373 4.b40 3.b99 534 1.132 1.667 1.301 755 la 22.110 36,261 27.206 16.972 forohaiot Of dMwatts oonrltloai Rot. 3 loT. 9 .• Sot. 16. VoT. 23* •••••••••• HOT. 3^* •..««ea**. Parohaaoa of foralcB soonritlaai lOT. 2 or. 9 lOT. lb. oT. 23 lOT. 30 a*Lit TBI OKITID STITIS iQB roBnia Accomrai nuL 10.5*9 7.t>5b 11.326 «.*5l 5.005 b53 3.279 882 910 553 3.33b 2,551 5.237 2.798 1.711 25 b9 38 20 UbO 271 13'« 182 IbZ l.a2 743 1,084 788 418 264 267 244 1.490 6T9 2.728 10.259 3.052 3.348 2.355 2.16b 2.520 1.436 488 1.019 498 398 483 5.361 3.549 4.891 3.550 3.696 1.356 1.22b 1.741 1.38b 917 22.769 16,893 25.242 20,b90 15.142 6,542 4.396 9.13b 44,915 8.309 l,lb9 25,971 1,202 8O9 b38 1.239 1.509 92^ 398 138 226 31.905 48,8b0 3b,?54 67,476 24,713 4,970 1,268 21 ,030 9M 15,055 23.396 19.287 13.732 6,123 3.190 6,309 5.416 6,761 1.059 571 888 b40 570 1,232 1,482 952 924 379 185 87 417 136 29,629 20.385 31,962 26,403 a9 a,b(a 1.739 1.838 1.846 1.403 1.410 419 1,206 2,827 39.499 1.548 110 25.400 314 169 b8 564 bb9 494 4b2 73b 1.297 2.308 1,443 1.850 1.699 416 1.7U 87 284 275 315 25 428 35 51 14 4,818 13,742 6,035 6.590 4.603 n OT. lOT. or. or. 2. 9..... lb. 23 »0T. 30 Salei of doaaatie •eenrltlaal BoT. 2 OT. 9 loT. lb or. 23 >0T. 30 Salas of foreign secnrltisai Sot. 2 Sot. 9 Sot. lb. lOT. 23 lOT. 30 9,blg 7.530 11.382 9.238 7.201 3.39b l,b02 3.858 2.579 1.597 125 17b 139 8,721 b.b25 10.334 8,bb4 b.51b 3.255 1.525 3.758 278 18b 110 897 905 1.0U8 ll»l 313 as 2.1t<l» 1.550 124 187 197 195 152 157 77 57»» 100 95 b85 '•7 9k 11 149 nUL I? 3!2iS 391 4o4 471 412 l.bb4 1.314 829 88 2b5 77 72 88 18b 91 4a 2,27b 28,475 4,992 41.073 3.052 FDRCBASI3 saaofga asbqad kib soiasTic Acconn: mn. 2. BoT. 9 (OT. lb. loT. 23 Hot. 30 Fvretaaaoa of dwnitle aaenrltlaal »0T. 2. BoT. 9 lOT. lb.... or. 23 Sot. 30 Porobaaaa of foralgn aaeorltiaai Sot. 2. Sot. 9 Sot. lb..... Sot. 23. Sot. 30 501 U57 bTO 103 lb 4b 32 75 127 l,8bl 3.088 2.066 2,392 2,483 1 lo4 122 44>I 483 255 159 290 33^ 119 221 i»39 4bO 208 Ibb 210 25b 239 l»ii9 1.268 2.2Sb 1.443 1.845 1.615 •ma. sAus 75 127 1,728 2.605 1,8U 2,228 2.149 KOCmSD AlBOU) lOB WiaS/llC i^CODST: Sot. 2. or. 9 7b 4b 3.3*3 1*91 1.12b Sot. 23 Sot. 30 Salei of dosaetle aaeoritleai Hot. 2 Sot. 9 Sot. lb. Hot. 23 Sot. 30 Saiaa of for«l«n •aoarltleai Sot. 2 Sot. 9 lOT. lb. Sot. 23 Sot. 30 43 155 98 m 55 b5 35 33 800 2l»l 1)0 3.473 671 1.257 1,129 bbb 1.272 928 1.672 2.0V> 1.5*6 2.9*5 3.208 2,240 330 428 8bb 27b 147 2b 55 9a b 7b 1 3.143 2fe IM> 34 14 43 bb2 D02 29 92 155 98 3 7 243 391 8' '^ 477 454 278 77 73 3.05^ 137 32b 4.76? l.bOll 1.125 902 l.bl7 2.0b0 1.562 4,292 1.150 2.024 2.924 2.163 37 Security Transactions In Joint Foreign Arbitrage Accounts as Reported by Brokers and Dealers In the United States, for November 1938 (in thoiuands of dollars) Clae8lflcatioxi and weak ended tOTiL FUBCHISKS II TEE nniTIS STATIS; Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 Fwreliaeee of domestic secctrltleBi Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. yi United Kingdom 7.070 5.816 2.707 e,698 2.077 2.1)09 Purchases of foreign securities: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 199 670 298 TOTU SAUS IH tBt OHITED STARS: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 Sales of domestic Hot. Hot. Hot. Hot. Hot. securities: 2 9 16 23 30 3.50s 2.866 1.755 2.722 2.276 5.100 U.OIO 1.331 Sales of foreign securities: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 786 590 1.223 1|1*5 H23 Trance Gflnouiy Italy Nether- . 38 Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported by Banks and Bankers In the United States, for November 1038 (la thousanda of dollara) Cbrrs&Gj of- CIutlfleailoBt «e«k ttad«d, Bd dcllTarj Itaitad ElasloB TOTiL FDHBASIS: I6T. 2 Spot loT. 2 Jbramrd lOT. 9 Spot OT. ^Mt forward Spot forward or 71.0140 2.39'> 590 1,222 2,660 1,560 3.569 1.U23 3.020 1.361 2,625 803 26 729 170 550 75 838 53.15>t Spot 87.093 forward "•3.693 Purota&aaa froa bankat 2 Spot lor. 2 forward. .. oT. 9 Spot lOT. 9 forward.... loT. lb Spot loT. 16 fonmrd.... 55.285 26,511 5U.O89 . . or. 25. "to? 89.58U 39.530 113. 8b7 31,566 Spot forward. .. Spot forward.... 23 lOT. 23 lOT. 30 loT. 30 71.861 32.983 Pnrehaaoa froB ouatoBara othar than baakat loT. 2 Spot lOT. 2 forward. . oT, 9 Spot 55 .6U5 \u . 13.367 10.317 22,911 17.770 lor. 9 ^rward. . .. lb Spot lor. lb forward.... lor. 23 Spot or. 23 forward.... lor. 30 Spot or. 30 forward. ... or. Omrmaxf W.lSb bT.USb 35.722 112. U9$ 57.300 130,231 ^rvard 9 lb lb 23 23 30 30 lOT. lOT. loT. MOT. loT. lOT. rraao* 2,191 1,177 2,U2U 8U7 3.317 1.389 2,bblt 1,020 2.513 798 78 .292 18 5'* 26 653 170 522 75 808 78 .277 18 203 •5 236 713 252 3U '3^ 70,195 Ul.lUO bb,29U 37.090 112,020 59.bOU 2,7lU 1,0«U 2.733 1,U88 2,865 51b 65 777 69 b92 2,188 bl7 2.980 l.b9b Ul 969 226 787 226 659 5.151 1.6bU 5.598 1,061 U50 b5 U90 1,780 252 2,682 69 U8b l,02lt 39 1|82 780 "•.909 "? 2, '115 1.776 5 8l,3UI» 29.1109 16.116 79.208 5.558 20,206 285 1.353 173 2,262 58U 1.963 2.887 2.015 2.517 550 2,801 2,866 '•1.517 5."^59 2'^.556 2,2>l6 2. '•93 281 1,107 1.338 59 1.672 230 1,310 161 2.201 3.097 1,832 2,699 1.252 2.259 386 2,280 2.379 780 ••37 188 898 b72 639 177 iaartoa 3.2't5 2.033 235 206 2 189 53 163 38 UtlB Total Boropa 67 1.719 5.12't 365 298 Otbar Airopa 1.371 1.096 1<08 112 Swltiarlaad b2U 287 lb.3bl» 21,588 15.232 10,710 Itel7 Hethcrlands 33 8 U7 55 "•3 12 2,bl»l I'M 131 188 763 258 IbU 160 586 123.591 60,221 l'*5.272 59.933 102,1311 '•7.189 b.Ul5 25.351 8.509 27.658 11,989 I107 250 11 181 111 35l» 20 187 "l.0lt7 7 15.916 62 3*3 2,910 127.870 36,650 85,811 35.900 16,2'A 5.827 262 2,882 1.879 19,9116 lOU 1.5211 lou 788 1 "01,198 16,657 9.763 1.190 7,027 773 728 368 297 5 55 27.705 17,117 22.175 It w,19U ll»,U99 12,520 21*. 337 18,159 '•.525 7.509 l,l»12 8,6llO 215 227 37 15 95 21*6 1,1192 3 bli3 597 1.070 818 U2U 1 1.705 '•7.389 bl«,U71 31.32lt 1,106 876 662 2,607 2,168 1.750 1.1^5 953 1.288 1.603 2.635 1.705 1.329 58.916 30.397 10U.909 W».290 112.537 60.933 536 10 561 732 59 932 3 61 17.385 12,638 16,U89 20,990 15. 702 15.006 13.578 12.295 92 20 83 87.283 35.536 79. 23" 33.39U 118,179 U7,glt8 l"»7.353 uu.y lit 2.II03 800 2U2 b9U 630 519 877 127 119 18.259 17.1102 2.b31 1,2«I6 76,301 U3.O55 121. 398 b5,2eo 128,239 75.939 99.817 3.339 2.227 2,682 I.5O6 I.908 1.313 2.338 3.318 152,515 b8.982 17U,969 p. 777 132.791 60,858 99.2511 '•2,062 336 1.336 252 1.255 633 813 936 I.8O5 1,111 1,110 b71 16 292 12 U90 17 101.1t09 "•8.825 goit IU7 195 1.732 908 1,831 2,116 2,320 bjU l,2lt6 7.1188 327 3 11U,988 52.653 215 28,056 l46 5 "73 192 "•5.707 163 nk 1.272 1.835 3.553 2.316 3.700 2.303 2.322 l,bb3 U2l| U.368 13.179 80,50lt 61 1U7 213 S.liot I.97I1 19.6"i6 23,283 16. 323 11.289 2>t2 1»7U Orand total All othar 687 29.922 6U,709 28.997 bit, 1,890 9.107 2.682 7.712 U.USO 568 Tar (aat 107. w 15. "•31 3'^.336 16 21.13U 27,616 ?b,U21 25.302 16,6b0 2,758 86 111,7"I0 2,bfe0 1 56.003 1,301 1,677 3,868 2.050 2,293 3.928 2.108 1.926 96 9b, 152 152 lU9,kUlt 26 7U,238 153.967 91.251 129.629 62.327 798 875 197 12 386 TOTiL SALISi Sot. Spot or, or. Ibrward 2 2 9 lor. 9 or. lb or. lb or. 23 or. 23 lor. 30 or. 30 Spot forward Spot forward Spot forward 2,888 1.683 ^»t 90. 55^ 'tl.123 forward Salaa to baakat or. 2 Spot or. 2 forward or. 9 Spot or. 9 forward. or. lb Spot lor. lb forward or. 23 Spot or. or. or. < 13.226 13.664 582 163 M.U56 531 11.059 58U b77 27.'»T6 51.838 26,031 98,b75 39. '•32 , 23 forward 30 Spot 30 forward...., Salat to caatoBoro othar thaa baakai or. 2 Spot lor. 2 forward lor. 9 Spot lor. 9 forward lor. lb Spot lor. lb forward lor. 23 Spot lor. 23 forward or. 30 SfoX low. 30 forward 30.2't9 2.132 921 2,202 90U 2,188 1.727 2,020 1,U5U 1,182 1.279 56.969 , , , 1.7'l6 1.807 102,878 50.911 79.833 13.3"^5 30.172 12.627 13.723 10.721 218 8b8 10,87lt 528 b57 57 739 173 722 22 957 30 531 39 767 29 750 53 909 155 1.U75 bb 8&U 13U '^ WW 1,1107 3.837 5.008 1.6b5 1.883 258 1.270 10 53U 1.361* 13 U27 7 1466 1.332 1.699 959 3.530 U.bU3 1.2U3 1.387 b28 30 i»5U ,000 1)00 bb 122 222 16 205 131 27U 15 329 273 29 233 16 323 53 '<55 "75 1 lt6U 307 365 U22 12 ••96 15" 1|62 >4lt2 U67 78U b21 1,I»2U 29U 59 381 5 23U 9 955 25 735 b83 698 376 8.1l«9 23.703 6.879 22,821 323 3 297 11.3811 27. "58 115 12.987 2l| 19.579 6,6U2 12.159 5.672 15.U68 88 118 li,3Ul 13,9110 79 53 8,897 1 "•57 1.59s 2,800 1.936 1.256 875 b69 1.752 16,033 8.U77 2ll8 8ll6 II17 bb 6,100 lUS suit 8,255 2,538 8,881 2,>187 7,7110 3.159 205 3 218 1 21 li».383 2,"»77 131 1,68 It 19. 718 56 317 2.!9>i .23? 35 .091* 9.828 52,861 1.07l» 79 1.068 nil 1.037 3.053 I.I139 I7I1 8';,8U3 1(6,561 211 71.612 37.b67 123.339 50.593 127.991 70,705 106,706 1 't6.b75 b5 25.897 27 "lit 26 179 15.'l"i2 69 2li,5>l0 15.1911 108 26,105 138 25.976 20,5"* 22,923 15,652 23.6"t5 107 59 Outstanding Forward Exchange Contracts as Reported by Banks and Bankers In the United States for November 1938 (In tbousuide of dollare) Currency of Classification and date United Germany Klngdooi Italy Hetherlande Switier- Other Europe land - Total Europe Canada Latin America Tar East all other Orand total TOTAL PUECHAS! C0HTE4CTS: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 3U3.369 338.337 350.791 36U.195 1.727 1.757 1.992 2.365 2,190 265 191 168 106 6.907 7.M75 7.393 7.935 7.253 668 69U 69U 702 693 22U 22U I7U 169 153 107 288 221 213 183 98,615 98.U56 106,201 105. 63U 105,330 't.313 llU 195 22J 216 2UU,75l» U,890 5.U56 5.510 5.591 5.595 102 27 36 11,612 12,088 12,276 12.782 13.196 331 512 395 382 336 5.187 5.313 5.6U9 5.978 6.56U 6.1t25 U,3U2 U.1U3 U,500 U.676 Contracts for purchases from domestic cuBtomers Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 2,051 2,112 1.938 2,302 2.329 158 297 250 250 183 35'».598 Contracts for purchasss from foreign customers: Hot. 2 Hot, 9 Hot. 16 Hot. 23 Hot. 30 8.63U 9,232 9.385 10,300 9,UU3 9,203 9,798 9.653 10,091 10,271 239.883 2Uii,590 258,561 249,268 12,7U5 13,828 13.898 15,U76 376.589 37U,oU7 386,360 1103,095 75.171 76.989 76.532 80,970 li(,95U 392.253 7l(.l(93 3.669 3.825 3.822 108,800 108, 8U2 116,576 ''.728 117. 6U7 "(720 117,196 1.693 I.8U7 I.7U7 2.I3U 2,223 9.076 10,003 10,076 267.789 265,205 269,784 10,7'(8 10,231* 16,680 17.330 17,1W» 20,108 18,266 5.097 16,757 17.506 18,05U 19.199 19,818 157 157 157 153 133 7.596 8,033 7.937 10,795 10.182 3.000 2.935 2,60s 3.078 3.522 511 537 9.08U 9.297 9.207 9.313 8.08* 2.097 2,150 2.056 2,371 1(29 Ul»3 UU5 usi U75 IU3 m ^ 1(25 UJ9 UU3 3,061 3.070 3,020 2.027 1.713 16,U31 16.035 16,611 16.519 8,683 9.191 9.986 12,656 8,820 1.851 1.858 1,852 ski 3.611 3.725 U.ISU 5.189 3,110 66,1(88 285,1(1(8 66,5'*6 68,311( 1,210 1,212 1,168 1.187 275.057 65.673 873 1(37,1(1(0 83,38U 86,781 8U,8l6 86,233 81.755 U,078 28,U6U 30.235 3,801 3.795 U,036 U,022 3.711 13.61(1( 277 276 277 277 298 8.772 7.980 7.933 7.682 5.810 67.798 13.1(88 8l(0 12,820 12.310 12,U27 11.330 10,378 62p 62U 638 658 923 1(71.877 1(70.765 1*83.161 503,269 1*82,870 122,91*5 123,616 132,612 136, 3U6 129,980 31(8.932 62U 62U 31*7.11*9 6l(U 366,923 352.890 909 350.5'»9 TOTAL SALE C0HTBACI3: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot. 30 386.295 377.058 392.7'i? Ik)1.37U 38U,8l6 1(30.273 1(5(5.976 1(59.996 1(1(3,129 11,071 l(.313 U,299 i»,oo9 22,Ul6 22.999 2l(,113 23.627 17.762 57U 583 577 576 51(7.892 51*11,707 559.795 731 571*. 5'»7.503 Contracts for sale to foreign customers: Hot. 2 Hot. 9 Hot. 16 Hot. 23 or. 30 Contracts for sale to domestic customers: Hot. 2 Hot. 9 Hot. 16 Hot. 23 Hot, 30 1U5.215 139.969 llt3,l99 1U3.757 136, I8U 2Ul,080 237.089 2U9.550 2S7.617 ' 2U8,.632 6.775 6,627 6,80U 6,632 5% 560 2.1(82 171.183 10,616 11.198 11.991 12.959 167. 21(7 170,922 175.921 169,697 30.1(12 6,953 6,890 6.S56 7.208 6,859 266,257 263,026 275.05U 5U,920 28l(,075 53.571 273.1*32 1(8.759 32,662 32.996 56.51(6 5i(,i(ou 15,019 16,130 15.91(5 11.952 Net Position In Foreign Currencies of Reporting Banks and Bankers In the United States During November 1938 (Uinus indicates short position: Classification and date In thousands of dollars) 523 553 217.615 566 566 798 222,116 229,116 216,81*9 219. IS"* 330.277 327.858 337.679 3U5.615 328. 3U9 * CO UJ a < c o o OTHER MONETARY -41- STATISTICS 43 Gold Assets and Liabilities of the Treasury (In millions of dollars - on tasls of dally Iraasury statements unrerlsed) Ind of calendar year or month 43 Components of Silver Monetary Stock (In millions of dollare) bi of calendar year or month 9 7 3 . 44 Net Movement of Sliver to and from the United States (Xn ttaousanda of dollaxa) Het Imports from or net exports (-) to: Taar and month United Kingdom W Other Kurope 986 1933 36.5a Sits. 133 53.393 1935 1936 1937 193« 3it,120 l3U,26lt Other Latin Canada -116 190 2.'»57 856 -25 15.396 2/ Cuha U87 U38 12,lU7 5.U16 6.798 10.915 '»1.715 17.560 21.995 58.325 29.925 30,203 Chile 662 1.550 2,920 1,01*8 ,1*08 1*51 -it,3i*2 968 696 ,786 ,381 151. l*5U % 582 695 IS.STit 192 1*91 10,81*3 Teh., Mar., 9.180 9.053 5 8 518 I.05U U.529 6 7 3.01*2 1 Apr., Hay., Jane. 9,31*8 16 10,010 13,813 2,158 20 2.162 I.U70 U36 2,7U0 2,710 3,098 2.918 2,600 1.956 -1,250 15.301 U,300 ^ 87U 988 809 U,310 il 663 708 Dec 10,169 15.778 17.075 31 71*2 2.767 2.635 1.876 1939-Jon.. 5.105 20 U85 2.737 8,957 '».305 ll 5 Oct., Hot., i>6 iaerlea -1.663 -3.780 -5,611 951 193g-Jan.. July, tog.. Sept, Peru 1.668 3.906 10,199 Ul 1.783 381 -1.228 2.738 611 2.858 188 129 21*0 5? 86 560 667 680 290 386 2U9 57 73 30 519 608 978 191* -993 -695 -1,200 U6 1*98 -1.21*3 us 312 277 239 219 1/ 13 6 -21*1* 631 708 739 181 173 Net Imports from or net exports (-) tot Tear and month British India 10,000 -338 IBS 1933 I93S 1935 1936 1937 1938 3.021* Hong Eosg Chin 9.956 21,967 227 69.996 5.61U -1*32 3.U6J 81*3 3.221* 2,ll*« 31*2 50I* 1.271 2,930 61 1938-Jan. Teh. Mar. 10,808 U/ 7 Apr.. May.. June. U5 July. Aug.. Sept. 5U ^3 61 Sec. 1939-Jan.. u 1*1,181* 3U lis U8 U33 617 335.730 170,851 79.835 70 58 2 28.353 15,255 it, 250 15.507 17,636 18.931 206 289 11 11 321 116 3^3 U 11 63 18 126 69 121 166 108 130 1U9 Oct.. Hot.. Total net imports or exports (-) Ail other 133 303 2.873 6,787 150 Other Asia Japan 171 305 tl3 10,065 270 1U6 to* gu 19 !i/ $1*. I3U 8,658 301,000 respeetlTely. Selgnorage on Silver Acquired by the Treasury!/ (In millions of dollars) 1931* 1935 1936 1937 Seignorege on sllTsr monetised 2/ Acquired under SllTer Purchase Act Potential selgnorage on BllTer bullion at domestic sllTsr cost in Oeneral Pond Hevlyvlned 79.6 260.7 53.6 8lt.O 137.5 276.7 337."* 130.8 398.1* 1*01. 170.1* 51*3.9 193g-Jan. feb.. Mar.. U13.3 172.6 175.2 177.3 6olt.5 Apr.. May.. June. U33.2 U39.8 178.9 1*1*6.0 182.3 July. Aug.. Sept. U50.7 U55,i U60.U 183.9 185. 186. 668.1* Oct.. Hot.. 1*67.2 Dec. U92.3 188.9 191.5 193.1 710.0 737.0 773.9 502.7 19l*.6 790.0 1939-Jaa. 1*20.7 1*26.9 1*77.6 ISO. 18,1V3 U,5gU 22,635 2^.813 2U.163 20,189 Source - Bureau of foreign and Domestic Commerce. U. S. Department of Commerce. Znd of calendar year or month 223,1*1*9 70 204 1/ Less than $500 2/ Includes net Import of $12,950,000 from nrance, 3/ figures for July, Sept. end Hot. 1938 Include net iaports from Trance of $U, 301,000, $1*,300.000 and 5/ Includes net Import of $9,791,000 from Slam. 86,171* 569.U 586.9 620.3 637.6 652.2 678.5 693.1* 1/ On basis of daily Treasury statements. 2/ These items represent the difference between the cost Talue and the monetary Talue of sllTer bullion reralued and held to secure silTer certificates issued on account of silTsr acquired under the Sllrer Purchase Act of 1931*. the President's Proclamation of August 9. 193>* and the President's Proclamation of December 21, I933. 45 Value of Selected Currencies in Terms of Goldi/ 1928 = 100 United Stetce 1931->c. 1932-Bec. 1933-D»e. 19311-Oee. 1935-Bw;. 1936-Dec. i937-n»c. 193S^«a. United Xlngdea 100 100 0» 69 67 59 59 59 11 £0 £0 60 61 59 61 £1 Tlraoce lether- Undi 100 100 100 100 100 70 100 100 100 100 100 80 51 Swltser land BelgiiM S2 »>7 82 82 82 71 71 71 72 72 72 3>» 70 70 70 72 72 3lt 72 3i» 70 72 72 72 33 59 22 22 33 33 32 59 59 59 21 21 21 59 21 £0 59 59 59 £0 £0 £0 1*7 82 )» 81 81 59 59 59 £0 59 58 1)2 1*1 79 59 59 59 5« 57 57 >I0 80 80 80 70 Seo. f9 £9 72 72 72 1939-Jm. 59 57 80 £9 72 ^pr.. Jvlr. Sept. Oct. lOT. i/ 2/ Monthly arerac* of daily inotatlone. Arerage exchange rate for January 1928 = 100. Indexes of Prices of 40 Foreign Currencies In New York China 2/ 100 100 100 100 72 72 72 ? Jxme, Italy 101 100 100 100 100 70 71 59 59 59 Vek. lUr. Japen lis la ko iw 81 80 V 69 97 97 100 I 9fi 91 59 59 39 39 39 59 59 59 39 39 37 59 59 59 35 59 59 2U 31 25 46 Ratios of Index of Wholesale Prices In 30 Countries to Index of Wholesale Prices in the United States 1935 = 100 . .. 47 Ratios of Index of Cost of Living In 38 Countries to Index of Cost of Living In the United States 100 1935 Dimlghtad' (i.t. aqsal Wtightad by U.S. •xportt Valghted )>7 U.S. Inportt Velghtad aecordlBc to total foralgn trada of aacb country Includad 1935 100 100 100 100 1936 102 102 102 102 1937 105 106 105 105 193S-lat qnartar. . 110 111 110 111 2nd quarter. . 110 111 109 111 111 113 111 112 3rd quarter 1/ Uth quarter. 1/ . Prellainary Ratios of Index of Cost of Living In 38 Countries to Index of Cost of Living In the United States, the United Kingdom, France and Japan 1935 = 100 Valgbted according to total foreign trada of each country included in the index "Unvatehtad* (i.e. equal valghta) United Statea United Elnedom Traaca Japan United Statea United Kingdom Trance Japan 1935 100 100 100 100 100 100 100 100 1936 102 100 9U 9« 102 100 91 98 1937 105 102 83 95 105 102 82 95 193S-lBt quarter 110 lOU 78 90 111 lOU 76 .. 110 103 76 87 111 lOU 75 89 86 3rd quarter 1/. 111 lOU 75 SU 112 105 73 8U 2nd quarter. Uth quarter. 1/ Prellainary . . MISCELLANEOUS 48- 49 Comnodltles Imported under Quota Provisions* Cosoodlty ptrlod thlt of qoaatltj Zatallllihsd quota 4UBtlt7 Imported iB JuniBrjr 1939 Cattlo weighlac ozidor 200 poundt «ach Calendar 7«sr Cattle velghinc TOO pound! or or* each, otbar than dairy eovi 1/. quarter yaar Whole allk, fresh or manr, Calendar year OalloB Creaa, f reeh or eoiir Calendar year Gallon 1.500.000 8U 15.000,000 1,018,265 freah or froiea. filleted, etc., cod, haddock, hake, pollock, cuek and roeaflah. Eead 100,000 5.711 60,000 55.063 3,000,000 U07 fifth, Calendar year Vhlte or Irish potatoeel Certified sa«4 12 Bonths froB Sept. i;, 1938 Pound 90,000,000 1.756,703 2/ Other 12 Bonths frOB Sept. 1$, 1938 Pound 60.000,000 2.062 if Calendar year Oallon 1,500.000 831. 3U9 Coconut oil Calendar year Pound ui4e,ooo,ooo 25,772.>tl9 Sef Ined sugar Calendar year Pound 112,000,000 1,200,000 Tbref Ined sugar Calendar year Pound 1,792,000,000 80,723,970 12 Bonths froB May 1, 1938 Pound 6,000,000 507.870 Molasses and sugar strips, n.e.p.f., which contain Bolable nonsugar solids (excludlD£ any foreign substance that mar hare been added) eqnal to BOre than 6^ of the total soluble solids. Products of Philippine Islands: Cordaga 1/ 2/ xj 4/ * Calendar year quota 225,000 head Qnastlty iBported Septaaber 1$, 1938 to Deceaber 31. 1938, l6.29>.375 (pounds) Qoantlty laportsd Septeabsr 1$, 1938 to OeeeBber 31, 1938, 63,188 (pounds) Qoantlty luported May 1, 1938 to Deceaber 31, 1938, 1,288,801 (pounds) Because of a change In quota bases, the tablee published last Bonth could not be continued. !*/ 50 Summary of Criminal Cases in the United States District Courts Alcohol Tax, CuBt<ina, NarcotlCB, Secret Serrlce and Internal Beveone 1/ for month of December 1938 INVENTOai OF CASKS Bupean J Treas. HJ
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