Full text of Treasury Bulletin : February 1949
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SEi-
'
/
LIBRARY
ROOM 5030
JUN 211972
TREASURY DEPARTMENT
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
WEASURY.
EUHILEWN
FEBRURRV-1949
UNITED STRTES TREflSURV DEPRRTMENT
OFFICE OF
THE SECRETBRV
February 1949
Table of Contents
Page
Treasury financing operations
A-1
Announcement of change In reporting procedure on refunds
and capital transfers
A-2
Summary of fiscal operations
1
Budget receipts and expenditures
2
Trust accounts, etc
S
Treasury cash income and outgo
11
General Fund of the Treasury
ik
Debt outstanding
15
Statutory debt limitation
IS
Debt operations
19
United States savings bonds
25
Treasury savings notes
J2
Ownership of Federal securities
33
Treasury survey of ownership
35
Market quotations
39
Yields of Treasury and corporate bonds
h^2
Internal revenue collections
hk-
Monetary statistics
^i
Exchange stabilization fund
52
Capital movements
5'*-
Cumulative table of contents
68
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percent-
Conseages) have been made from unrounded figures.
quently the details may not add to the totals shown.
Febrmrii 1949
A-l
Treasury Financing Operations
February Certificates Refunded
On January 19, 19^9
leaving $10S million held by other investors to be
the Secretary of the
Treasury announced the offering of a one-year 1-1/4
,
percent certificate of Indebtednese In exchange for
the |2,189 million of 1-1/8 percent certificates of
Indebtedness maturing rebruary 1.
paid In cash.
Treasury Bills Retired and Refunded
Subscription books
Treasury bills maturing In December totaled
were opened January I9 and were closed at the close
of buelnesB on January 21.
$5.2 billion and the amount refunded totaled $5.0
billion.
The first two weekly Issues were each
Exchanges were made par for par and cash subscriptions were not received. The new certificates
were dated February 1, 194^9, and bear interest from
maturing.
that date at the rate of 1-1/4 percent per annum,
December
payable with the principal at maturity on February
percent, 1.153 percent,
percent.
1950.
1,
They were Issued In bearer form only In de-
$100 million less than the respeotlve amounts
The remaining Issues were refunded In
full.
The average rates of discount on the five
December offerings, beginning with that dated
2,
were In sequence, I.I50 peroant, I.152
1.15'+ percent,
and 1.157
nominations of $1,000, $5,000, $10,000, $100,000, and
Savingrs Bonds, Series
$1,000,000.
E
-
Limitation Modified
Reports to the Treasury on the ownership of
Oovernment securities Indicate that on November 30,
1943, about 4l percent of the maturing certificates
were owned by reporting commercial banks and Federal
Reserve Banks.
The ownership figures for November 30
are the latest available for holdings of commercial
banks.
Individual holders of Series D-I939 savings
bonds, which began maturing January 1, 19^9, may
reinvest the proceeds of the maturing bonds In
Series E savings bonds currently on sale without
regard to the $10,000 annual limitation (maturity
value) on purchases of E bonds, according to an
announcement on December 20, 1948. Holders of
Series D-1939 savings bonds may reinvest any part
Subscrlptlona to the aen oertlf loatea amounted
tt>
of the proceeds of their maturing bonds up to such
denominational amounts as the proceeds will fully
$1,993 Billion on the basis of prellmiaary flgvires.
Maturing certificates held by Federal Reserve Banks
cover.
In the amount of $2S million were redeemed for cash,
the •tabllshed payment and Issue procedure.
note;
Details of Trsaaury aazket finannlne operations are
ehovn In the tables on "Offerings" and "Disposition",
respectively, of naiketaUs Issues of 'bonds, notes.
The reinvestment can be effected through
and oertlf icates of Indebtedness, and the t&Vle "Offerings
at ttrnMoaj Wlls', lA thU lana oT Urn "Tmamy BttUstliT.
Treasury Bulletin
A-2
Aimouncenent
As announced on D«oamber 23,
Treasury,
194^8,
by the Seoretary of the
the Director of the Bureau of the Budget, and the Comp-
troller General, as part of a continuing effort to Improre federal
accounting and financial reporting, amounts refunded by the
Oovernment, principally for the overpayment of taxes, are being
reported as deductions from total receipts rather than as expenditures, beginning January 19*^9.
Figures for prior periods, except
as noted, hars been adjusted accordingly for oomparatlye purposes.
The change does not affect the size of the budget surplus or deficit since It reduces receipts and expenditures by equal amounts.
Interest, whloh Is paid on some types of refunds, will continue
to be reported as a budget expenditure.
Refunds of receipts are not true operating costs, bat merely
represent the return of money which the OoTernment Is not entitled
to keep.
The new method results In a clearer presentation of
receipts retained by the Oovernment,
and causee reported budget
expenditures to reflect more accurately the actual costs of carry-
ing out Oovernment programs.
Figures for prior periods have been adjusted also to exclude
from both budget receipts an& budget expenditures certain payments
to the Treasury, principally by wholly owned Oovernment corpora-
tions,
for retirement of capital stock and for disposition of
earnings,
in accordance with reporting procedure which became
effective July
1,
IS^i.
February 1949
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In Billions of dollara)
Budget recelptB and axpendltur«B
Net
receipts
u
Surplue,
or
deficit
turee
(-)
7lBcal 7eare:
1937.
1938.
1939.
19'«3.
igiti.
5,302
5,103
5,265
19''3.
7,227
12,696
22,202
19'''t.
113,892
igitj
19116
Ul.,762
Ii0,027
19't7
It0,0lt3
19't2.
7,756
6,979
8,966
9,183
'»,979
13,387
3U,187
79,622
95,315
U2,211
98,703
60,703
39,289
36,791
19't9
39,580
to, 985
37,180
Ul,858
19'tl.
8,81.9
16,1)03
I9U8
(Estimated).
1950 (Estimated).
Calendar years:
_
20,610
57,863
19'*3.
%
2/
3U,55l'S/
I9W*.
W.,U2l8/
98,07157
19J»5.
U6,o46 8/
I9U6.
1(1,601
89,61*08/
ltlt,113 8/
38,576
37,565
19'i2.
111,
10118.
010
Itl.UjO
1/
Months:
19li6-July
August ....
September.
2,182
2,2U6
U,386
October. ..
Noranber..
December..
2,W»0
2,288
U,050
19U7-Januai7. .
February..
March
April.
Ma;...
June.
Julj
August....
September.
October...
November..
December..
I9U8- January. .
February,.
March
April.
May...
June..
July
August . . .
September
October..
Horamber.
December..
£
90,2l»4
3,287
2,7''5
2,663
Ij
Tranfi actions Surplue, or Other trust
of Torelgn
Economic
Cooperation
Fund
Tniflt
it/
deficit
H, accounts,
-
etc,
net
receipts,
for
expendor
r.E.c.
Trust Fund itures {-)
adJiiBted
5/
Clearing
account
6/
Net
Increase
In
public
debt f or
decrease
Net
Increase
In General
F\md balance, or
decrease
(-)
(-)
Lerels, end of period
General
Fund
balance
Public
debt
1/
..
.
.
.
.
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
lUiona
(In
of
doLUn)
Internal rvremi* X/
Tnrr— and profit* t«x*c
riaol /sar
or Booth
ft^ojBsnt
Vlthlwld
ta:
Othar
anlOTsr*
19*1.
19^.
D«duotlooa
Hlaoallaneotia
Intamal
Total
Internal
Othar
racalpta
Cuat
y
2/
3,*70
7,960
16,09*
26,262
3,*70
7,960
16,09*
3*,655
985
1,186
1,*98
1,739
8,967
3,8*7
Appro jxrl ft% 1 ooc
to r*d«r«l
Oroaa
Old-Ag* aDd
roovlpt*
SurriToTB
at
IlUUZ'UlkO*
BafuDda
of
raoalpta
Trust Fund
1/
racelpta
2/
*,553
5,891
7,368
18,993
88,1**
*1,685
398
389
32*
*31
2*2
295
93*
3,325
7,996
13,677
23,*02
*5,**1
896
1,130
1,292
80
85
70
857
7,887
12,696
82,202
*3,892
**,762
*O,027
*0,0*3
688
ISkS.
19W>.
8,393
19*?.
19*£.
19*7.
19*8.
10,289
9,392
10,013
ll,k36
2*, 88*
21,*93
19,292
19,735
35,173
30,885
89,306
31,171
1,780
1,701
2,02*
2,381
6,9*9
7,785
8,0*9
8,301
*3,908
kO,310
39,379
*1,853
355
*35
k9*
*82
3,*9*
3,*92
*,635
3,82*
*7,750
**,238
**,508
*6.099
1,310
1,238
1,*59
1,616
1,679
8,973
3,006
8,872
*8,2U
19*9 (btlaatad).
1970 (Eatlnated).
10, *1*
19,825
20,707
30,239
31,387
8,599
5,273
8,518
8,553
*1,350
*5,213
*07
*07
8,887
1,8*2
*k,0**
*7,*62
1,75*
*,120
8,709
8,097
39,580
*0,985 8/
3,237
3,159
5,165
51
*83
176
656
689
739
3,9**
*,8II
6,080
37
3*
*1
383
369
8*3
*,30*
*,6l*
6,365
35
73
278
998
2,613
1,597
*,i68
30
178
*6o
*,196
k,158
5,87*
68*
1,358
695
1,17*
*28
3,006
1,858
1,785
3,701
83
*01
1*2
662
673
69*
2,603
8,859
*,536
35
31
33
885
198
535
8,863
3,088
5,10*
7*
376
17
5*9
388
888
8,839
2,32*
*,899
535
1,165
69k
719
k03
2,939
1,25*
1,568
3.63s
*10
130
677
7*8
676
1,998
8,780
*,*38
31
3*
35
271
195
12*
8,300
8,9*8
*,597
63
380
8
1*0
6*
*6
8,096
8,505
*,5*3
537
1,198
71*
1,180
1,583
3,0*2
38*
13*
768
768
702
8,013
2,73*
3,878
36
33
1*9
17*
1*5
8,199
8,9*1
*,062
39
385
2,328
358
*3
7
*1
8,101
8,5*0
k,01k
19*8-Janaar7
621.
ra1iruai7 .
.
.
Itareh
April.
Maj...
Juna.
Jul7
Au0uat
.
. ,
Sapt«a1>ar.
Oetoliar...
Koranbar.
Dacaabar
.
Souroa:
10,680
1,563
6*3
67
65
Actual fl«urea frca Dally Treasury Stataaant; eatlnatea baaad on
tha 1950 Bud^t dociaent. Including affect of propoaad changes In
aoploTnent taxea and Blscellaneous receipts. Pecelpts olaaslfl-
38
59
eatlons ahem hare are based on tha Daily Treasury Stati
therefore differ soBawhat frcn those Is the Bndget.
Pootootea at and of Table 5.
Table 2.- Expenditures by Major Classifications
(In Billions of
risoal ysar
or Bocth
atiosal
dsfenss
Intaraatlonal
finance
and aid 2/
Interest
on
the
public
debt
doUan)
Tatarana'
AdBlnlstratlon
Othsr
il/
Total
sxpandlttsas
i&J
expenditures
of yoralgn
XooocBlc
Cooperation
Trust Pund
Total
expenditures
adjusted for
r. 1. c.
Trust Fund
ii/
19*1.
19*8.
19*3.
19**.
6,6?5
28,266
75,897
89,780
19*5.
19*6.
19*7.
19*8.
90,501
*8,870
16,766
11,36*
*,988
7,1*3
19*9 (EatljMited).
1950 (Eatlnated ).
11,812
Ik, 030
3,682
6,2k6
1,063
8*6
8*5
828
869
600
903
930
989
July
August...
Septaabar.
October...
HoreBber.
Deoeober
19*8- January..
February.
Itareh....
April.
June..
.
Source:
563
5,059
*,10?
1,91*
2,856
13,387
3*, 187
79,682
95,315
13,387
3*, 187
79,688
95,315
5,2U
k,253
7,259
6,k69
8,58?
8,133
5,378
6,603
98,703
60,703
39,289
36,791
98,703
60,703
39,889
33,791
5,325
5,k50
6,667
5,313
9,69k
10,818
37,180
*1,858
kOl
Iks
58k
589
597
583
608
*37
k36
2,800
2,22*
3,086
338
251
3,k33
15k
12k
1,508
588
530
568
56*
386
586
2,5*1
2,222
7,018
-3,000
2,5*1
2,222
*,0l8
1,155
800
715
155
138
288
286
788
539
k87
1,17*
551
815
3,558
8,1*3
8,869
183
192
196
3,7*1
2,335
3,066
931
957
1,017
17k
206
153
212
128
1,112
k90
618
878
9U
555
767
2,685
2,815
3,603
226
3*7
*99
2,911
3,163
*,102
78'
1,260
1,808
2,609
556
6oe
730
3,617
k,788
*,958
2, 060
Uk
570
Actual figures frca Dally Treasury Statenant; eetlaataa baaed on
the 1950 Budget docuBsnt, Including effect of propoeed legislation.
l^cpendltuTP claSMlflcatloDS ahovn here are based on the Dedly
-3,000
3,000
*o,iao
*1,858
2,800
2,22*
3,086
Treasury Stataaant and therefore differ eoaavhat froa thoee In the
Budget
Kootnotee at end of Table 5.
February 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures for National Defense and Related Activities
(In mllllonB of dollars)
Flacal year
or month
Departanent
of the
Departzient
of the
Departsnent
of the
Air Force
Amy
Navy
15/
3,678
19kZ.
Ik, 070
Wis.
•2,265
U9,2U2
I9UI1.
(Estimated).
1350 (Estlimted).
19l;9
2,313
8,580
20,888
26,538
50,337
27,800
6,911
30,Olt7
6,0i46
1>,171
5,!<l*U
"•,''55
U,9lt7
1*,679
67l>
19U8.
1,532
3,556
19118- January
Payments
under Araed
Forcea
LeaTe Act
11/
Foe one true
tlon
Finance
Corporation
16,766
ll,361t
121
33
31
629
11,812
1U,030
13
1
191
187
2U
330
337
368
lU
7
23
36
30
336
3
3''1
2
2
July
August.
September
69
120
139
67l>
371.
1
328
217
322
332
2
October.
Norember.
Doc ember.
117
122
150
Ul:3
UI9
U6I
20
13
10
2
3W
2
10
381
378
1
9
7
1
It
1
15
1,063
8U6
ItO
81*5
20
17
903
16
930
929
15
11
11
1,155
800
715
10
931
957
1,017
7
18
Actual figures from Dally Treasury Stateoent; estimates baaed on the
1950 Budget document, including effect of proposed legislation. Expenditure clai:slflc=Ltionfi shown here are baaed on tha Daily Treasury
1»8,870
19
27
3
5
9
3
U07
6,655
28,266
75,297
89,720
8
106
Wt2
325
29
2, '•32
90,501
1,501
268
29
2U
21
259
6,180
7,UU7
519
661*
271
277
ue6
539
U82
35I'
6,305
lt,U7
69I1
1.
other
20/
2,255
3,189
2,682
U72
328
138
3,227
April.
May...
June.
.
Ccsooleslon
1,986
270
15,161
U,998
U3lt
.
Surplus
property
disposal
aAencles
18/
51
929
2,776
3,812
February ....
March
391.
United
States
Maritime
7
Statement, and therefore differ somewhat from those in the
Budget.
Footnotes at end of Table 5«
Table 4.- Expenditures for International Finance and Aid
(In millions of dollars)
Fiscal year
or BK>nth
Bretton
Woods
Agreements
Act
19»»6
159
19^1
19^8
1^26
Credit
EiportInport
Bank
United
ElngdCTQ
21.'
568
938
W5
(Estimated).
1950 (Eottmated)
to
.
.
April
May...
June.
July
August.
September
.
.
October...
Norember
December. .
.
.
ment and
relief
In occupied
countrlOB
Foreign
Aid
Act of
19^1
China
Aid
Act of
Expenditures
of Foreign
Economic
Cooperation
Trust Fund
12/
Other
191*8
3,131'
U98
1,265
1,030
1,600
•,500
99
350
k
1>9
272r
285
136
17
11
16
27
59
21
16
236
37
30
5U
21.
Ul
9
-22r
97
72
129
lk6
-5
111
Economic
Cooperation
Administration
22/
5IU
881
161
3
February
March
tated
countries
Gorem-
Total expenditures
adjusted
for F.E.C,
Trust Fund
787
2,050
1,700
I9I+9
I9U8- January
Greek
Turkish
assistance
Belief
In war
devas-
100
100
100
1
52
59
7,lb3
-3,000
'•,lk3
67
3,682
3,000
6,632
360
6,21.6
6,21.6
78
111
228
269
600
228
269
600
132
91
338
251
338
251
3
1
U7
28
-19
-109
8
26
k
81»
1*8
lit
1
22
b
178
176
lU
6
6
18
2
35
27
16
79
113
3
61
29
117
1
10
Actual figures from Daily Treasury Statement; estlmacee based on the
1950 Budget document, including effect of proposed legislation. Expenditure classjflcatlone shown here are based on the Daily Treasury
727
li,928
"•,928
33 r
3,133
33r
8I>
12
39
61t
3,1'33
-3,000
"•33
155
138
282
183
192
196
338
330
n't
206
153
226
ItOO
3I17
55lt
lt99
652
Statement, and therefore differ eomewhat from those in the
Budget
Footnotes at end of Table 5*
lt79
...
.
,
.
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5.- "Other" ExpendltureB
(IB Billion of dollan)
SoelBl
Aid to
or
DBtk
•grlonltar*
••osrltjr
Pnblio
vux^v
£6/
19kl
19ka
19*3
19k*
1,272
1,385
732
798
,
19*5
969
-ao3
19W
19*7
l.SSfi
19W
786
19*9 (2atiaat«l),
1990 (latlaatMl),
l,9»iO
110
1,738
2,038
13*
77
96
1*5
i.aee
19*d-J*Biiai7
7*bruBr7
Maroh
.
.
807
8*5
1,066
1,619
.
I>lr*at
•ad vor^
r*ll«f
21/
7*1
673
535
*a5
586
656
Booatt^
313
359
S90
1,12«
1,683
1,971
9?
65
69
NliotUaBvona
22/
82/
1,37*
970
299
17
1,081.
622
116
6T9
5,059
*,105
1.91"
2,256
7*2
1,378
2,267
3,1*5
2,525
2,133
5,379
6,603
-*1
106
-9
38
-16
*,37*
*,8ae
290
195
9,69*
10,818
218
5S3
*37
*36
-*
3
-201
-35*
-360
lis
i^rU
ik
HtJ
28
68
as
85
Job
31
12*
UO
-10
-21
317
215
3*2
56*
386
586
-*3
110
S?6
508
132
137
1*6
-8
8
-20
590
218
1,17*
551
815
275
321
285
172
1*7
1*2
lUl
9
-9
-7
275
371
Jal7
Auguat
Sopteabcr
October
.
HoTflBber
.
.
.
.
.
Deceabor.
.
i;
*/
2/
6/
2/
8/
2/
io/
U/
1*/
i2/
.
.
.
.
86
ActuAl flguroB frcn Dallj Treaaurr Statenent; eot]jaat«B baa»d on the
19^ Bud^t docuBflnt, including effect of proi>oaed legislation. Expenditure claaBlflcations ebovn here are baaed on the Dally Treaaury
Statement, and therefore differ aonewhat from those in the Budget.
For f'orther detail, see tablea under "Internal PeTonue Collectlona" .
Pecelpta of Victor; teaes vlthheld pursuant to the Perenue Act of
19U? are claaelfled aa "Other" Income aul profits taxes.
Conalete of recelpta for old>age Inexirance, unemplojment Insurance,
and railroad retlreaent; for details see Tablea 7 and 8. Excludee
railroad uneMploToent insurance contributions, vhlch are Included
in "Other recelpta".
Inclxidea proceada froa the aale of aurplua property and from Gorement-ovnad aecurltiea; alao Includea deposits resulting from renegotiation of war contracts (for detail see "Treaaury Bulletin" for
rebruary 19»i8, page 5).
Both budget recelpta and budget expenditures exclude pajnants to the
Treaaxxry, principally by vbolly owned GoTernnent corporations, for
retlreaent of capital etock and for dlspoaltlon of earnings, (eee
page A-2 In this Issue of the "Treaaury Bulletin").
Pepreaenta appropr latlona equal to "Social eecnrlty -- employment
taxee" collectad and deposited aa prorlded under Sec. 201 (a) of
the Social Security Act Amendments of 1939* See alao Table 7.
Excludes Interest on refunds, (see page A-2 In this Issue of the
"Treasury Bulletin").
AUovB for deduction of ap pro pr iation of $260 million for Health
Inaurance Trust Fund, under proposed legislation.
Tigwne for fiscal year 19!^ include t3,000 million tranafer to
Foreign Economic Cooperation Truat Fund; figures for flecal year
')
(actual and eatlmated) exclude expenditures from this fund.
udea public vorka undertaken by the Veterans* Administration.
jdea Interest on refuade of recelpta (see footnote 12).
In addition to the exclusion of certain paymenta to the Treasury
as indicated in footnote ^, total expenditures ehovn here exclude
refunda of recelpta, vhlch were formerly shovn aa a clasalflcatloo
of expendlturea but vhlch are now ehovn as a deduction from recelpta (aee Table 1, preceding). Interest on refunds, formerly
Included vlth refunds. Is still carried aa an expenditure but is
ahovn under "Other" expenditures. Budget expenditures alao exclude
amounts for public debt retirement vhlch are chargeable to the
sinking fund, etc., under special* pror la lona of lav, and Include
tranafere to truBt accounts and net expendlturea of wholly ovnad
CoTercment corporatlooa, etc., except payments to the Treasury
mentioned abore.
Eatabliahad In accordance with the Econcolc Cooperation Act of 19^8.
RegatiTe figures indicate receipts.
See footnote X^/.
Department of the Army expenditures Include expenditures on behalf
of the Department of the Air Force vhlch are made out o£ approprlatlons to the Department of the Army, but exclude expenditures for
the foUovlng:
paymente luier the Armed Forces Leave Act; URRPA,
and surplus property disposal, shovn elsevbere in Table 3* international finance and aid, ehovn in Table U; z^ver and harbor vork
and flood control, included under "Public works" in Table 5; and
Panama Canal. War expenditures of the Panama Canal, all prior to
July 1, 191*7, are Included under "Other" in Table 3; other expendltures of the Panama Canal are Included under "Miscellaneous" ii.
Table 5-
16/
Ij/
16/
19/
20/
21/
363
2l>6
Department of the HsTy expenditures except those for payments under
the Armed Forces Leare Act, UHPKA, and surplus property dlepoeal,
ehovn elsevbere In Table I, and those for international finance and
aid, shown in Table 1^.
Excludes expendlturea for URPRA end aurplua property dlapoeal shewn
elaevhere in Table 3*
Beginning March 19^, Includes relmbureemsnt for expenditures by
the Departments of the Army and the Rary for care ani handling of
surplus property orereeas.
Rational defense and related actlTities of P. F. C. and its
affiliates. After July 1, 19**7, expenditures for these purposes
were not segregated from the other expenditures of the Corporation
and Its affillataa, which are included \mder "Mlacellaneous" sxpendl tures In Table 5.
For content before July 191*8 see "Treasury Bulletin" for February
19Ufi, page 7, and September 191*8, page U.
Beginning July 19l»B
consleta of expendlturea of the SelectlTe Serrlce System and the
Office of the Secretary of Defense.
Excludes expendltxiree under Econcmlc Cooperation AdmlAlatratlon
shown elsewhere In Table
Figures for fiscal year 191*8 Include $3,000 million tranafer to
Foreign Economic Cooperation Trust Fund; figures for fiscal year
191*9 (actual and estimated) exclude expenditures fnn this fund.
Figures exclude expenditures for International finance and aid
abovn elaevhere in Table k.
Conalete of expendlturea of International Children's Emergency
Fund, and loan for construction and furnishing of United Rationa
headquarters
Department of Apiculture expenditures except those for UlCRPA,
surplus property disposal, other national defense and related
ootlTltlea prior to July 191*7; International finance and aid; and
foreat roada and trails, included under "Public worses" in Table 5*
For more detail of these expenditures, see Tables 7, 8, and 9.
Expendlturea for the U. S. Employment Serrlce during the flecal
years 19l*3 through 19U6 are excluded from Table ^ and Included
under "Other" In Table 3 as national defense expenditures.
Federal Works Agency expenditures except those for surplus property
disposal, other national defense and related activities prior to
July 191*7, and assistance to Greece and Tio-key. Includes alao
river and harbor work and flood control, forest roada and tralla,
Bureau of Peclamatlon, and Tennessee Valley Authority.
Housing and Heme Finance Agency expenditures except those for
surplus paroperty disposal, and for other national defense and related activities prior to July 191*7.
Hot classified separately for fiscal years after 191*?* For additional information for earlier years, see "Treasury Bulletin" for
Auguat 191*^1 page 6.
Includes expenditures for executive departments not included elsewhsre (including Interest 00 refunds of recelpte) and for legislative and Judicial functions; Covaroment contributions to Federal
employees* retlremsntj atomic energy; aids to education, labor,
finance, commerce, and Induatr?; Civil Aeronautlce; Panama Canal,
except war expenditures; Post Office deficiency; stock-piling; and
for 191*9 and 19^ estimates, reaervea for contingencies.
Leaa than $^00,000.
Pevlaed.
1*
22/
2^/
2h/
2^/
26/
27/
28/
2g/
•
r
878
911
767
February 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary by Monthe and Calendar Years
(In mllllonB of dollars)
Calendar year
Apr.
Hay
July
Aug.
Sept.
Ret tiudget receipts 1/
2/
g/
3«
3I10
5''1
1QU2 ?/,
578
788
3,5>i7
I9U. 2/,
2,7''7
IQUe 2/,
3,556
3.819
758
955
?,503
3,767
3,678
'',196
I9I1O
1!^1»1
'99
1,566
30U
565
1.00
6I.9
331
I1I.7
711
333
39l»
1.13
695
563
1,276
2,U92
397
587
2,721
2,568
2,997
1,135
2,527
5,W.7
5,926
5,199
607
2,030
2,001
2,530
1,511'
1,1(80
l',569
2,950
3,085
2,733
6,2U7
5,71.7
3,087
2,9S9
2,677
5, SI'S
5,87".
1,962
2,239
2,297
2,32U
It,
5,?06
6,573
6,898
7U7
2,007
2,163
2,695
2,539
5,911«
U,U79
I9I16...,
igUT...^
19118...,
I",
196
"•,158
2,182
2,281
2,096
929
'',859
i.U-j
362
56U
601
2,099
7110
5,835
1,212
2,701
5,736
l6,U03
2,2li0
2,37l»
5,1.16
Ui,1.21
1,118
1.6,
1.1,601
8,81.9
31., 551.
0U6
2,l'3l«
U,1.78
2,51*1.
2,361.
l.,107
2,2k6
',386
2,lt38
li,6l2
2,288
2,692
l.,050
l.,197
1.1,010
2,505
',51.3
2,UkO
2,339
2,101
2,5'lO
l.,01l.
1.1,1.50
1,675
5,1.62
7U5
1,996
5,936
895
1,896
6,018
7,902
6,687
2,755
1,193
2,691
6,932
7,751
8,U20
5,013
3,662
9,769
20,610
57,863
7,838
8,3U.
7,291
2,932
897
2,336
6,191
7,626
8,135
5,695
2,965
2,663
2,673
2,869
2,860
2,391.
2,1.53
2,11.3
2,685
2,815
-31.
-56U
-1,891
-5,585
-5,595
-532
,332
Budget expenditures 3/
191.2 2/.
682
1,139
2,687
191.3
i/.
6,731.
2/.
191.5 2/.
191.6 2/.
7,71.1.
iql.0 g/.
191.1 2/.
19l.lt
191.6....
IQI.7....
191.8....
8,239
U,86o
3,019
2,800
628
1,206
2,659
6,36U
8,021
7,281
1,1.91
3,521.
718
1,587
612
1,360
1,597
3,91.9
l.,li07
l.,833
7,1.82
6,931.
9,266
7,306
7,377
7,901
3,1.35
3,81.5
l.,268
9.112
3,a6U
8,262
8,696
9,752
5,352
3,731
2,22U
3,239
3,086
3,1.07
2,51.1
3,281.
l.,996
2,222
7,018
7,750
10,U5l.
850
1,637
5,265
7,505
8,100
8,821
3,6Ut
931.
3,287
3,553
3,558
7,671.
2,71.5
2,962
2,11.3
7,951.
7,91.6
l.,58l
2,529
3,605
3,176
3,603
90,21.1.
98,071
89,61.0
W.,113
38,576
37,565
Budget surplus, or deficit (-) W/
-368
-799
-2,109
-213
-966
-285
-321
-519
-1,22U
-361
-1,278
-861
-3,81.U
-2,31.1
-3,1.10
-6,002
-3,693
-1.,518
-5,1.98
-l.,875
-2,51.3
-1,022
-3,253
-5,792
-3,880
-l.,291
-3,981.
-2,1. 1.9
-5,937
-5,117
-5,776
-2,227
-1,976
-2,373
1,902
2,102
-I., 972
-1,591
-6,126
-1,105
-1,272
-l.,293
-1,1.97
-3,165
-U99
1,723
-1.20
-1,1.1.5
-6,028
-1,131
-987
-3,838
1.6U
-521.
1,931.
2,788
-302
103
-1,1.62
362
1,91.0
1,671.
-55
-58U
-226
-665
-1,901
-7
75
23
-5,91.6
-l.,997
-5,1.09
-5,518
191.5....
-l.,683
-3,511.
191.6
-1,01.2
21.3
706
1,396
I9I.O
191.1
191.2
191.3....
I9l.l1
.
. .
I9I.7....
191.6.
. .
-181.
-Ull.
-873
-67
-2,159
Transactions of the Foreign Economic Cooperation Trust Fund
-183
3,000
191.&.
-192
-6,131.
-1.52
-3,931.
-1,1.79
-l.,231
-U,762
,1.17
,85*
,706
-2,011.
-3,001.
-55,691
-53,650
,208
-165
-895
-1.3,591.
1.1.5
-2,512
51.9
1,022
2,1.31.
-275
1.10
3,885
-31.7
-1.99
1,356
-623
-88
5,21.1
-1.1,1.61
^
-196
Surplus, or deficit {-), adjusted for Economic Cooperation Trust Fund transactions
1,396
191.8.
Source:
1/
2/
^
1,931.
2,788
-302
103
Daily Treasury Statement.
Cross receipts less deductions for appropriations to Federal OldAge and SurviTors Insurance Trust Fund and for refunds of receipts.
Monthly figures prior to July I9I.6 have not been revised as yet to
exclude refunds and capital transfers.
Excludes refunds of receipts, vhich are shown as a deduction from
receipts, and certain payments to the Treasury, principally by
wholly owned Government corporations (see footnote 1 ) , and amounts
for public debt retirement which are chargeable to the elnlcing
fund, etc., under special provisions of lav; includes transfers
-1,61.5
81.1
1;
169
1,1.77
-810
to trust accounta, and net eipendlturoe of whollj owned Government corporatlonB, etc., except pajnenta to the Treasury
mentioned above. Flgurea for June I9U8 Include $3,000 million
transfer to Foreign Economic Cooperation Truat Fund; figures for
subsequent months exclude expenditures from this fund.
Net receipts less total expenditures.
Established In accordance with the Economic Cooperation Act of
I9U8; positive figures Indicate receipts and negative figures
indicate expenditures.
Su
..
U
3
U
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(In alUlons of doUsra)
Bacalpta
riual
at
rm
Moth
Social aacurlty taiaa
Federal tnaurance
Contrlbutlosa Act
(Old-ofe Inaurence)
i/
19W
-3''9.3
la^i
19*3
-38^.5
-368.
.3UU.3
-306.7
lou
WkJ
-363-5
-573.3
-639.7
19"''5
WW
19l>8
19b&*Januar;
PebruAry.
March
.
.
Deductlona
Croaa recalpta
Siceae of
nat reoalpta,
or expand 1turea (-)
l,l»9''.5
690.6
895.6
1,130.5
1,292.1
1,309.9
l,lil8.1
1,238.2
1,6U.3
1,'»59.5
788.2
1,015.6
1,288.9
1,U72.0
Federal UnaoploTBant
Tax Act
inauronce)
( UoaaiploTiaaot
7.2
1,236.2
5.9
8.2
7.2
I7U.I
176.7
200.7
12.9
179.9
l8k.5
i.asu.i
l,6l6.2
ue.it
35.5
277.7
35.5
277.7
.5
12.1.
138.1.
.5
138.0
12.9
30.!.
.5
12.1.
7"..
.7
.5
.k
-62.6
61.5
I>l6.l
-li2.5
''3.3
30.
77.2
7"t.3
2.9
376.0
16.6
I3.I'
17.8
Jalj
AuguBt...
S«pt«mb«r.
-1U5.0
-6U.9
-68.3
392.5
8.2
63.1
379.6
8.0
1.6
18.9
October.
-98.5
-73.7
-100.
60.5
370.0
8.6
58.8
357.6
7.1
1.7
12.3
Tlaoal 7«ar
or Bcnth
"..0
179.9
181.8
207.9
389.1.
Decaaber.
y
97.6
116.6
155.7
175.9
177.
-W.U
.
Rat
recalpta
2.5
3.3
2.7
158.l>
-5li.l
IfoTeaber .
Hafunda of
aoclal
eecurltj
taxee
638.1
395.6
1,130.5
1,292.1
1,309.9
97.7
U9.9
-83.2
April
Haj
June
Approprlatlona to
Federal Old-Age and
SurrlTore Inaurazue
Truat FMiid 2/
61.
.6
1.2
.2
1.5
1,'.59.5
1,616.2
376.0
16.6
63.1
379.6
8.0
1.0
58.8
357.6
7.1
.3
.7
.8
12
.7
11.6
.7
.3
Februani 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act
-
Budget Receipts and Expenditures
(In millions of dollars)
Fiscal year
or month
.
.
.
.
.
Treasury Bulletin
TRUST ACCOUNTS, ETC.
Table 1.- Summary of Receipts and
Expenditures of All Trust Accounts, Etc.
Table 2.- Receipts, by Principal Accounts
[In millions of dollara)
(In Bllllona of dollars)
Fiscal jsar
or Booth
Net
receipts,
or expenditures
908
-1,613
-33a
-2,222
791
19lil
WW
w^s
19'i6
Wk?
I9W
191.9
19^
(Eatlantsd)
(Estlaated)
I9U8- January ....
Fobniary
March
April
Majr
June
Fiscal year
or month
Receipts
i/
Investnente
(-)
Wte
WkS
2,665
3,218
3,95^
5,085
7,086
-seu
-1,103
6,21.14
1,338
1,925
3,001.
129
5,200
It,
2,905
1,287
3,178
1,757
U,830
19'tl
19't2
2,665
3,218
"•,292
3,95^
5,085
7,086
1.19
1,09''
6,29''
19''3
19l'U
19l'5
'',568
8,236
191.6
7,712
3,985
3,750
7,3't7
19't7
6,21.1.
6,810
wi^a
9,515
8,967
8,781
I9U9 (tetimated)
1950 (Estimated)
7,307
2,T06
9,515
3,668
3,362
3,060
-3,010
18
5,957
8,799
2,719
2,000
6,21.6
259
567
582
277
89
258
218
518
79
28I.
307
776
363
86
335
2lt9
678
-26
116
902
276
378
S,315
181.
300
606
1,508
U69
576
U16
995
697
•85
557
731
-19U
-86
Federal
Old-Age
and SurTlTore
Insurance
Trust
Fund
^cpendltures 1/
7,712
3,823
July
August
Ssptaaber..
-178
10
-5T0
817
707
173
526
121
327
October
HoTeaber . . .
December. .
-lU.
-30
-718
287
690
3H>
6
161
300
6,782
71.3
"•31
720
1,031
Actual figures fron Ebllj Treasury Statement;
estimates based on 1950 Budget document. Including effect of proposed legislation.
Becelpts inclule transfer of $3,000 million In
June 191*8, from General Fund to Foreign Econcmlc
Cooperation Trust Fund, established in accordance
vlth the Econonic Cooperation Act of 19^6; expenditures for fincel year 19^*9 include expenditures from this Fund.
191.8- January
Februar7
March...
April.
May...
June.
July...
August.
September
October.
RoTenber.
December.
71.1.
967
1,218
February 1949
.TRUST ACCOUNTS, ETC,
Table 4.- Bxpenditures Other Than Investments, by Principal Accounts
{In mllllone of dollars; negative figures are eicees of credits)
Federal
01d-.A^e and
SurrlTors
Fiscal year
or nonth
Insiirance
Railroad
Retirement
Account
TniBt Fund
Unentploy-
ment
Trust
Fund
National
Service
Life
Insurance
Fund
Government
Life
Insurance
Fund
Federal
eo^loyeee *
retirement
funds
1/
Foreign
Economic
Cooperation
Trust Fund
2/
Miscellaneous
a/
Special
deposit
accounts
(net)
Redomptlon.
or sale ( - )
of seciirltles
of Govemjnent
corporat Ions
etc. In the
market
(net)
2,905
1,287
3,178
91
137
177
217
121
126
130
191*5
1,091*
267
11*1
191*6
l.,568
358
191*7
191*8
3,985
3,750
1*66
152
173
559
222
(Estimated)
1950 (Estimated).
6,21*8
656
6,78s
2,21*5
218
518
Itl
191*1
191*2
1*19
191*3
191*1*
191*9
19'*8-Januai7..,.
February ...
March
April
May
June
.
Source:
1/
2/
2/
.
30
260
233
128
25
280
282
50
267
67
70
323
1,073
21*1*
372
367
31*
302
56
72
19
19
19
66
51
50
83
25
23
29
50
50
51
19
19
19
81
26
72
103
21.
5
26
6
20
22
23
70
111
65
1*3
8
28
27
k
1*16
52
52
51
1*25
52
53
23
23
23
57
557
731
61
27
27
27
I169
October. ...
NoTember...
December
i<6l
6
31
78
85
103
151
2,31*9
276
576
51*
81
61*7
1*5
1,170
61.
1,571*
1
317
181*
,
869
859
2,871*
1*28
-271
-508
-1^669
337
325
606
July
August
Saptemher.
1,11*6
-852
1,809
71*
963
281*
,
131*
555
377
176
61
71
30
-129
63
(Same as Table 1).
See footnote 1, Table 2.
Eetabllehed In accordance with the Economic Cooperation Act of I9U8.
Includes Adjusted Service Certificate Fund, District of Columbia,
Indian tribal funds, expenditures chargeable against increment on
gold, etc.
277
383
290
18
17
5
16
37
322
103
5
18
18
20
71
16
159
19
21
17
183
192
196
18
18
226
1*
5
19
1*99
1*
I)
*
1,231*
3,000
U
1*
U/
271*
31*7
IJlt
1,553
95
359
-107
-109
-7t
69
9
-21
-61
10
it/
-53
-2U
59
y
260
-38
y
y
1
1*
-56
It It
26
22
113
5
lt3
-31*
23
25
23
-5
«
1
-3
3
Includes $150 million in February, $70 million in March, $50
million In April, and $120 million in June representing proceeds
of ship sales finally allocable to budget receipts from surplus
property- These proceeds were carried in trust account receipts
pending final determination.
Less than $500,000.
Table 5»- Federal Old-Age and Survivors Insurance Trust Fund'
(In mllllona of dollare
Fiscal year
or month
1*12
691*
.
7
.,
2
.
6
8
1
1
1
)
)
5
8
55
,
Treasury Bulletin
10
TRUST ACCOUNTS, ETC..
Table 0.- Railroad Ratlreaent Account
(In »llllon» of toU«r«)
P»o*lpta
71BO&I 7*«x
or aooth
1/
1936-19*0.
19*1
19*2
19*3
19**
390.8
116.1
1**.0
290.6
272.6
19*5
19*6
19*7
19*8
32*.
19l>9
Approprl•tlona by
Coogrvas
Total
(btlaatad).
U3.6
1*0.8
21*.
262.7
308.8
292.1
298.2
T58.5
19*d-Januar7
7abruar7.
i .
ttaroh
AprU
715.9
Julr
.
,
.
,
.,702.8
',163.7
18.7
18.8
18.7
-18.*
-18.*
-18.3
1,38*.
19.2
19.3
19.3
87.0
10* .8
19* .9
333.0
515.6
1.8
10.5
12.8
13.*
18.2
23.83/
2/
1,365.7
1,3*7.*
1,303.0
1,283.5
1,26*.
59.*
59.9
59.5
21.7
22.7
23.3
-16.7
-18.8
90.1
1,328.7
1,309.8
1,399.9
1,30*.5
1,285.5
1,37*.5
.6
1.5
83.5
23.7
23.9
19.7
22.5
23.1
5** .9
-22.*
-23.0
1,9** .8
1,922.*
1,899.5
1,700.5
1,679.5
1,658.5
217.1
217.1
217.2
27.2
25.8
23.8
-K.8
-23.0
-23.1
1,818.7
1,853.7
1,830.6
1,708.0
1,68*.
1,661.5
1*9.3
1*5.*
1U5.*
83.*
23.8
23.7
1,830.6
1,830.6
1,661.5
1*5.*
23.7
.2
.3
.3
.3
23.0
23.2
23.*
126.*
1,63*.9
i/
23-9
1,726.6
2,187.9
.2
3,339.1
1.2
1.5
326.7
U61.3
.5
.5
3,*65.5
1*.7
17.8
288.6
316.6 i/
.3
Inception throu^ December 191*8
.9
.9
50.7
62.0
oraabar..
Sovirce:
500.5
657.0
805.5
,37k.
.1
..
U.7
675.7
a2*.9
1,399.9
Dacanbar..
Ootobar.
10.8
2.5
1.6
*.l
1.1
38.9
2* .2
36.0
56* .6
79.*
7*.0
91.5
178.0
318.5
i8e.6
160.1
1*9.1
575.1
15.2
19.9
.*
56* .6
•
SaptaalMr.
52.1
1*1.*
152.0
173.3
228.3
9.8
In dlahuralng
offloar*a
aooouot
of appropriation
92.1
-5.0
17.7
90.1
138.1
.*
73.*
0Dazp«o4*d b&lanca
To oradlt
121.2
126.2
130.5
13*.*
.3
.*
109.*
Inoraaaa,
or i»or»«»a {-\
Ul a«aata
298.7
3.1
5.8
.3
.*
.?
.5
M«7
June
Au^Ufl t
56*.
615.3
777.9
19^) (Eatlnatad).
ants
5.9
2.5
38* .9
312.0
322.*
797.*
lJXT»»t-
Aaaata, and of parlod
at
Kxp«aditur«B
other than
Inraataanta twaaflt
p«jBanta
(Sane aa Table 1).
rig-jrea differ from thoae ahovn In Table 2, "Fecelpta, by Principal
Accounta", for the reaaon that Table 6 refleeta approprlatlona when
they are made while Table 2 shove the aaounta vhen tranaferred to
the truat account.
.6
Distribution of unexpended balance not aTallable.
Includes U.7 million for salerlee and eipenaee, vhlch would be
financed directly from the trust account under proposed leglalation.
Leea than 150,000.
2/
1/
*
Table 7.- Uneoployment Trust Fund
(In mllllona of dollar!
t^ end
Receipts
State
unsiQ)loy'
Tlsoal year
or month
Total
Bsnt Insuranos
aotlTltlaa
Sspoalts
i/
TraojContri- fers
butions froB
States
i/
2J
States
1936-19*0
19*1
19*2
19*3
19**
8,897.9
1,113.9
1,2*3.6
1,398.5
1,566.9
8,729.3
896.0
1,096.0
1,217.7
1,3*9.3
19*9
19*«
19*7
19*8
1,507.8
1,279.8
1,289.*
1,256.0
1,009.9
1,005.3
1,007.3
19*9 (Xstloatsd).
1950 (Xstlmatsd).
1,172.5
I,33i2.9
U.2
u.7
UB.8
116.2
127.6
130.6
8.9
9.6
9.2
9.7
123.6
1*3.6
1*6.9
165.3
i*.3
9.0
9.1
181.5
18* .6
890.0
962.7
1,169.8 1,100.0
e
71.8
1.1
32.8
*.0
April
May
June
39.1
200.6
123,6
38.7
199.*
12.0
.1
.3
July
August
Septaaber.
*3.7
22*.
39.1
8.9
•
.J
.1
19.1
22*.
19.0
27.7
227.2
100.2
27.9
227.2
1*.2
October.
lorember.
December.
.8
109.*
27.7
.
.6
1:1
7.9
19*.
1*.0
.
60.0
70.1
71.3
y.*5.9 1,128.3
8l7.lt
869.5
798.1
898.9
92. I>
10*.
99.9
199.1
90.8
.
17*. 3
1*.6
17.8
9.1
1.8
ae.6
*9.0
67.*
82.*
96.5
61.3
76.^
Railroad
Unanployment In"
auranoe
Aooount
Assets, end of period
Unexpended
balance
let
Increase^
or decrease
Inrest.
Total
(-),
msQts
In
assets
In dlsburslne
In
offltrust
osr*s
aooount
aooount
i/
1.8
1,'»32.1
.
tor* I ethar than Lsraataants
Tranafera
to BallVlth1/
dravala road UnanploTaant
Statai Inauranoa Benefit
Aooount
paTBsnts
Traiufvra
f ron
Admlnla- mant*
tratloD
Tund
96e.o
1,828.0
19*8-Januar7
February
Maroh
1.
State unen^lojnent ixuurtjxoe
aotlTltlea
Railroad Unasployment
Insurance Aooount
1.2
31.9
U33.1
555.1
377.1
176.2
60.6
79.7
*.l
.2
86.0
1,116.7
*33.2
368.1
1.8
10*. 1
17.2
60.8
78.7 6)
69.8 1/
1,710.0
2,273.0
3,139.0
*, 367.0
5,870.0
1.*
1,78*.9
558.8
866.*
1,222.*
1,506;3
1,72*.9
2,283.7
3,150.1
*,372.5
5,878.8
1,*36.5
133.9
*19.9
*5*.0
7,315.3 7,307.2 7.8
7,**9.1 7,*09.0
U.8
7,869.0
8,383.0 8,298.* 18.1
1:5
2.7
7.8
*.0
8.5
3.3
1.5
.3
.3
8.*
5.3
6.9
209.8
262.3
8,538.8 8,507.6 29.2 1/
6,795.1 8,769.9 25.8 1/
8,158.1 6,132.5 17.8
6,2*8.9 8,225.5 16.0
6,216.7 8,190.* 17.9
7.8
69.6
6*.3
83.0
59.7
58.9
76.*
6.6
33.9
90.8
-38.8
81.2
72.2
103.5
75.3
66.*
98.8
6.0
5.7
*.6
-*2.2
128.*
20.1
8, 17*.
8,1*0.* 87.8
8,303.0 8,265.* 31.*
8,323.0 8,298.* 18.1
6.9
6.1
6.5
70.5
110.9
63.9
66.9
106.7
61.1
3.9
*.2
*.*
-26.8
5.0
^*l:2
8,296.2 6,268.* 22.8
8,*1D.0 8,389.* 18.3
8,363.7 6,3*9.* U.2
96.5
60.7
81.1
56.5
9*.0
76.1
*.0
-28.8
166.5
19.1
8,33*. 8,31*.* 18.7
8,501.3 e,*8l.k 17.5
8,520.* 8,*96.* 21.9
1.7
6,520. *| e,*96.*| 21.9
2,2
5.9
5.*
6.8^
5.0
1:1
2-3
3.0
i.e
Inception through
SwXaber
Source:
1/
2/
^
19*8...
1*,213.* 12,106.1
876.9
107.2
75.5
19*7.7
(Soae cm Tatle l).
Excludee Interla advance of $15 ollllon froo the Treaaurj and eubsequent repojment, both taking place in the flacal jear 19^>
Pepr^aenta 90$ of contrlbutlona under the Pallroad Unanployaent InBurance Act; the regaining lOll la uaed for admlniatratlTe expenae^.
(See Table 9 under "Budget Peoelpte and trpendltur»a"
Pepreeente amounte tranaferred frcn Stat«a to Pallroad VhenploTment
Inaurance Account equivalent to anounta of tazee collected with respect to period from January 1936 to June 1939, InoluaWe, from
flmployeeB axvl employers vbo cone vlthln the purrlev of the Pallroad
lAuBplojTBent Inauranoe Act,
i692.9 5,383.2
h/
1/
0/
.
2/
*
137.2
202.6J/I
8,520.*
I
Bepreaenta ezoaaa funda of the Pallroad UnamplOTnant Inaurance
Admlnlatratlon Tund (under Act of Oct. 10, 191*0).
For railroad unanployuant beneflta and ref unda
Tranafera to the Pallroad UnaaaploTSBnt Admlnlatratlon fund are
actual tranafer of $2.1* million In noramber
Included aa foUova:
19146^ and eatloatad tranafera of $11 .0 million in f leoal /ear
I9I19 and $1.3 million in flacal jear 19^0, ropnssenting adjuateent
for orarcolleetiona due to retroactive change in tax rate,
Dlatrlbutlon of unexpended balance not available.
Leae than 150,000.
February 1949
11
TREASURY CASH INCOME AND OUTOO
Actual figures In these tables are based on the
Dally Treasury Statement, and have been revised,
as noted,
except
to agree with the new reporting procedure for
refunds of receipts and capital transfers.
are based on the 195*^ Budget document,
of proposed legislation as outlined In Budget detail.
Table 1.- Summary of Cash Transactions
(In nlUlooe of dollars)
Flaoal year
or month
Estlmatee
including effect
Treasury Bulletin
12
TREASURY CASH INCOUE AND OUTGO,
Table 3.- Derivation of Cash Budget Expenditures
(In Bllllona of dollars)
February 1949
13
TREASURY CASH INCOME AND OUTGO,
Table 5.- Derlvatlon of Cash Borrowing or Repayment of Borrowing
(In millions of dollaxe)
Fiscal year
or month
Treasury Bulletin
lU
GENERAL FUND OF THE TREASURY,
Table 1.- Status of the General Fund
(In mlllloDfl of dollars)
iBi Of fiscal
jsar or Bonth
February 1949
15
DEBT OUTSTANDING.
Table 1.- Summary of Federal Securities Outstanding
(In millions of dollare)
End of
fiscal
year or
month
...
Treasury Bulletin
16
DEBT OUT STAND I NO
Table 3.- Interest-Bearing Securities Guaranteed by the United States Government^
(In alUlons of dollar*)
loGHarkBtable
bd
jraor
of fiscal
or BODth
Total
6,360
*,5*9
*,092
1,516
*09
19*1
19*2
19*3
19**
6,360
*,5*9
3,908
1,190
"ii^iiilllj
Fadaral
Crsdlt
Corporation
Jaxu
NortgaeB
Corporation
696
701
*12
1,269
930
930
fadaral
Boualne
AdBlnls-
tntlco
17
Ownars*
Loan
Corporation
2,*09
1,563
1,533
755
Public
Bouali«
AdBlnlatr«tlan
226
U*
Baconatructlon
Flnonca
C orporation
1,7*1
1,219
896
Cnii-i
i1
ItjT
Credit
Corporation 6/
3*
21
23
2*
3*
Il2li
*5
*5
27
*3
38
27
lis*
83
69
19*8-Januai7. .
February .
March
72
7*
73
28
28
28
28
28
28
**
*6
*5
kit
AprU
TO
70
28
27
27
28
27
27
*3
*2
*2
*3
*2
*2
1*
1*
1*
1*
1*
1*
37
33
32
37
33
32
1*
1*
1*
1*
1*
1*
3*
39
37
3*
39
37
19*5
l;67
19*6
19*7
19*8
M»T
June
69
Julj
AugUBt....
Septeaber.
October.
.
Roreaiber.
Dec saber..
V,
k6
k8
53
51
l>12
11*
183
326
375
68
U5
150
375
176
Ii2
Source; Sally Traoauij Stataaaot.
Footnotes at and of Table k.
Table 4.- Special Issues to United States Government Agencies and Trust Funds
(In Dllllone of dollars)
End of fiscal
year or nonth
Reconstruction Finance
Corporation 1/
*5
Fsbruary 1949
17
DEBT OUTSTANDING.
Table 5.- Computed Interest Charge and Computed Interest Rate on Federal Securities
Public
End of fiscal
year or month
del)t
and guarantoed eecurltlee
Interest-bearing
debt outatandlng
Computed
Hnn iiwl
intereet
charge
(Millions of dolaars)
19*1
5*,7''7
19''2
76,517
1943
139, '•72
W^iS
201,059
256,766
WW
19't6
,
19'<7
I9W
I9U8- January
February.
1,335
1,729
2,759
3,869
'•,969
Computed
annual rate
of Interest
(Percent)
CoB5>uted
Interest-bearing
debt outstanding
annual
Interest
charge
(Millions of dollars)
2.1*38
1*8,387
2.260
1.978
1.925
1.935
71,968
135,380
199,5*3
256,357
268,111
255,113
250,063
5,351
253,958
252,100
5, '•71
5,'*69
268,578
255,197
250,132
5,357
5,376
5,1*57
1.995
2.107
2.182
25'', 030
5,1*72
.151*
252,17''
5,1*71
,170
,168
Guaranteed securities 2/
Public debt 1/
1,218
1,61*1.
2,679
3,81*9
l*,96l*
5,371*
5,1*55
Computed
anniiwi rate
of Interest
(Percent)
Computed
Interest-bearing
debt outstanding
Interest
charge
(Millions of dollars)
2.518
2.285
1.979
1.929
1.936
6,360
1.996
2.107
2.i8e
2.155
2.170
2.168
72
Cocoputed
HnT^,in1 rate
of Interest
(Percent)
1,516
117
85
81
20
1*09
5
1.861
1.968
1.335
1.321
1*67
7
1.1*10
83
69
1
1.758
1
1.921*
l*,5l*9
1*,092
1.831.
March
250,707
5,1*35
250,631*
5,l*3l*
73
1.8W*
1.853
1.871
April
May
June
2li9,990
5,1*33
5.1*35
.173
.171*
21*9,920
21*9,958
5,1*31*
2.171*
2.171*
70
70
1.896
1.910
5,1*57
.182
250,063
5,1*55
2.182
69
1.921.
5,517
5,517
5,513
2.197
2.199
8.200
251,168
250,875
250,518
5,517
5,516
5,512
2.197
2.199
2.201
51
1.820
1.855
1.878
2.211
250,300
250,391
250,579
5,535
2.212
1*8
5,51*3
2.211*
53
5,551
2.216
51
.
,
July
August.
,
250,028
250,132
251,219
250,921
Baptenber
250,5611
October
November.
December.
250,3't8
250, UWt
5,536
250,630
5,552
.
Source:
1/
2.211*
2.215
Dally Treasury Statement.
Treasury bills are Included In interest-bearing debt figures at face
amount, but for purposes of calculating the computed wnmiHl interest
charge and the computed rate of intereet, the dlscoimt value la used.
5,1*31
71.
•.7
1*6
1.863
1.791
1.81.1.
For the purposeB of confuting the annual Interest charge and rate of
interest on United States savings bonds, Series A-E are considered
to yield 2.90^ per annum and Series F Is considered to yield 2-53^.
2/
£xoludea guaranteed securities held
liy
the Treasury.
Table 6.- Treasury Holdings of Securities Issued by Corporations and Certain Other
Business-Type Activities of the United States Government-^
Treasury Bulletin
18
STATUTORY DEBT LIMITATION
Section ?1 of the Second Liberty Bond Act, as
aoended, provides that the face anount of obligations
Issued under authority of that Act, and the faoe amount
of obligations guaranteed as to principal and Interest
by the
held by
United States (except guaranteed obligations
shall not exthe Secretary of the Treasury),
ceed
aggregate $275 billion outstanding at any
Obligations Issued on a discount basin, and
subject to redemption prior to maturity at the option
of the owner,
are Included In the statutory debt llaltatlon at current redemption ralues.
In
the
one tine.
Table 1.- Status under Limitation, December 31, 1948
(la
lllloai of dollwa)
MazlHoa aaonat of Mcorttla* whlob say %• •Qtataadlac at bbj aaa ttaa, nadar llaltatloaa lapoaad bj Saetloa 21
of th« Second Llbortj Boad ict, aa aaandad
iaosat of oaeorltlaa oatotaadlac oabjaot io
V.
S,
oofih
275,000
atatvtarj dabt ItaltatloBt
OoToroaaat aacurtttaa laaaad oadar tha Socoad Libortj Bond Aoi, aa aaandod.
258,002
OoaraAtaad •oeorltlao (aiclodlac ttaoaa held bj tha Traaaruy)
25
Total aaooat of aacurltlaa ontataadlac aobjaot to atatatoir dobt llaltatloa
252,057
Balaoca laooabla oadar llaltatloa.
Soareot
22,9'>3
?ablle Dobt Sarrlco.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding December 31, 1948
(In
alUloBa of dollara)
Claaa of aaovrlty
PobUe
Snbjoet to
atatotoiy dabt
llaltatloa
lot anbjoot to
atatutoiT dobt
llaltatloa
Total
oatotaadloc
debt:
latoraat-baarlac aaeurltlaa:
Markatablo:
frea«ui7 bllla
Oartlflcatoi of IndabtadJioia
Treasury notes
Treasurj bonds - bank eligible
Treasury bonds - bank restricted 1/...
Postal saTln^ and Panaaa Canal bondsTotal aarketable
12,22ll
12,22k
26,525
7,131
61,803
26,525
7,131
61,803
1.9,636
119,636
157,319
163
163
163
157,1182
arketable:
U. S. Barings bonds (currant rodsaptlon Talne).
Treasury sarlncs notes
Depositary bonds
i^ed forces leare bonds
Treasury bonds, inrestaent sarlaa
55,051
55,051
'1,572
'•,572
Total nonaarketabla
Special Issnoa to OoTomasBt acencias and truat funds.
Total iaterest-baarlnc saeurltloa
Matured securities on which Interest has coaaod.
Dabt bearlnx no Interest:
Onlted States aarlngs staaps
Ixeess profits tax refund bonds
Special notes of the Onlted Statee!
lateraat lonal Monetary Toad aarloa
Intematlooal Bank for Beconstruction and Derelopaant aeries
Onlted States notes (less gold reserre)
Dapoalts for retlrsaent of national bank and Tadoral Beserre Beak notes.
>.
Other debt bearing no Interest
Total dabt bearing no Intoreat.
Total public dabt.
Qoaranteed securitiee
latereat-baariaK.
Matured
:
3U0
3I1O
1)61)
l46ii
955
955
61,383
51,383
31,71'>
250,1116
163
3118
55
7
1,U0
66
191
"•33
6
1,238
630
252,002
797
2/
Total guaranteed eecuritles
Total public debt and guaranteed aaeurltlaa.
51
55
252,057
797
February 1949
19
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding December 31, 1048^'
.
.
.
.
.
;
Treasury Bulletin
20
DEBT OPERATIONS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States GoTemaent
and Outstanding December 31, 1048^- (Continued)
(IB
Ulloia
doLUn)
of
AnmBt of BBtorltlaa
Bt of BBtorltlea
Tmt
D««crlptlaD of •co'ltj g/
and
CBth
rixad
BtBrlty
iBvuoa
lata
tenk reCaUlBbla IsauBa
atrictad
claaalflad 'bj
laeuaa
7eftr of:
becoaa
riBol tank
Tint
caU
BtO-
Taw
and
Booth
Dasorlptlon of aacurltj 2/
riisd
BBtUlaanaa
aU«lbla
Data
bank roCallBbla laaoai
atrlctsd
claaalflad I17
laauaa
7*ar of:
rirat
caU
i/
atu-
baak
all«lbla
Titj
1/
risal
196*
1956
Mur..
2-l/2f Bood
3/15/56-58.
6/l5/5<>-56.
Sapt.
2-lAf Bcz^
2-3A* BoBd
2-lAi Bond
1,'>*9
681
Juna.
2-1/2* Bond
-
6/l5/6*-69.
3,761
'/15/53
Doc..
2-1/2* Bcml
-
12/l5/6k-69.
3,838
9/15/53
982
3,823
9A5/56-59.
9/15/56-59.
Total.
6,253
7,600
681
1965
1958
8-1/2* Bond
3/15/56-58....
2-3/H Bond
6/15/58-63....
2-1/2* Bond
-
3/15/65-70.
2-3 A* Bond
-
12/15/60-65.
2/1/5^
5,197
l.'i85
l,Wi9
5,197
1,*85
919
919
1,^
1966
Mar..
2-1/2* Bond
-
3/15/66-71.
3,k8l
6/15/62-67.
6/15/67-72.
7,967
12/l/5k
19»
JmB.
2-lAf Bond
6/15/59-62...
Sapt.
2-3A* Bond
2-lAf Bool
9/15/56-59 ...
9/15/56-59...
2-lAf Bond
12/15/59-62...
I>w..
5,291
6/15/52
3,^70
8,75k
1967
Juna.
982
3,823
12/15/52
2-1/2* Bond
2-1/2* Bond
2,118
Sapt.
2-1/2* Bond
9/15/67-72.
2,716
Dae.
2-1/2* Bold
12/15/67-72.
11,689
i960
2,118
1968
ttar..
2-7/8* Bond
Sac.
2-3/li* Bond - 12/15/60-65...
-
2,611
3/15/55-60...
Dec.
Canal bold
-
6/1/61
-
12/15/63-68.
2,831
12/1/52
1969
a, 611
1961
3#
2-1/2* Bond
l,'i85
1,''85
June.
2-1/2*
BoM
-
6/l5/6lt-69.
3,761
''/15/53
Dae.
2-1/2* Bond
-
12/15/611-69.
3,838
9/15/53
50
7,600
1970
196?
JuDe.
12/15/62
k.eok
22,372
Jma.
5/5/52
6/15/62
2-lA* Bond
2-1/2* Bond
6/15/59-62.
6/15/62-67
5,28l>
6/15/52
5/5/52
3,'>70
12/15/52
2,118
2-1/2* Bond
-
3/15/65-70
5,197
2/l/5k
2-1/2* Bond
-
3/15/66-71
3,^81
I2/I/5V
JUBB.
2-1/2* Bond
-
6/15/67-72
7,967
6/15/62
Sapt..
2-1/2* Bond
-
9/15/67-72
2,716
Dae...
2-1/2* Bond
-
12/15/67-78
11,689
Mar...
1971
2-l/li* Bond - 12/15/59-62.
Mar..,
2,ue
8,75''
1972
1963
JiBia..
2-3/b* Bond
6/15/58-63.
Dae...
2-1/2* Bond
12/15/63-68.
Total.
Sourca:
1/
2/
919
2,831
2,831
12/1/52
919
Dallj Treaanzr Statanent and Public Dabt Sarrlce.
Ezcludaa poatal aaTln^ bonds.
It aboqld be noted that callable leeuee appear twice In tbla col\^
ooce In the jear of flret call and e^aln In the Tear of final naturltj.
Callable laauee vlth reepect to vtalch a definite notice of
Total
12/15/62
82,372
call baa bean Bade, taoverar, are listed aa fixed Baturltlee. Tor
date of leeue of each aecurlty, eee chapter on "Market Quotatlona'*
for tax Btatua, eee chapter on "^rreasury Surrey of Oimarahlp"
Bank raetrlcted laauee nay not be acquired by cciHerclal banka (vlth
BlAor excaptlGDa) prior to a specified date.
February 1949
21
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
(ABOuntB In ulllione of dollar*)
Issue
date
22
Treasury Bulletin
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, NkDtes,
and Certificates of Indebtedness
February 1949
23
DEBT OPERATIONS.
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
Date of
refunding
or retirement
Treasury Bulletin
2U
DEBT OPERATIONS.
Table 5.- Issuance and Rettreaent of the Public Debt
(In
BlUlcu
of lollva)
February 1949
25
UNITED STATES SAVINGS BONDS.
United States savings bonds were first offered for
In March 1935.
Series A-D were sold from March
Series E, P, and
bonds have been
1935 to April igl+l.
on sale since May 1, ig"*!. For Information on the terms
and conditions of these bonds, see "Treasury Bulletin"
sale
Decembtr 19^7, page 3I, and October 19'^5.
Sales and redemptions data by States
are published at the end of each calendar and each fisSales by denominations
cal year after June 30, 19kf
Issues
for
pages A-4 and A-5.
.
In
the
following tables sales figures are quoted
and redemptions and amounts outstanding
at Issue prioe,
at current redemption values.
Amounts of Series 3 outMatured bonds which have
been redeemed are included In the figures on redempMatured bonds outstanding are reflected In the
tions.
standing are quoted at par.
Interest-bearing debt until all
upon which Interest has ceased.
are also published semiannually after December 31, 19^7.
Table 1.- Summary of Sales and Redemptions, by Series
Cumulative through December 31, 1948
Series
bonds
of
the
series
have matured, when they are transferred to matured debt
. ..
Treasury Bulletin
26
UNITED STATES 3AVIN0S BONDS.
Table 3.- Sales and Redemptions of Series E, F, and G
SalM
1/
Aoorusd
discount
R*4a^loa«
S&laa
plUA
acorutfd
discount
Total
SalM
prlo*
^
Aocruad
discount
Aaount
outstAndlng
(intsrastbsarlng
ds1>t)
(In BLllllons of dollars)
Sorlss E, F, and C
Fiscal ysars
19^1
:
66*
5,993
11,789
15,*96
1*,891
9,612
7,208
6,235
i9i>e
mj
19»*
19*5
19*6
19*7
19*8
Calandar years:
19*1
19*2
19*3
19**
19*5
19*6
19*7
2,537
9,157
13,729
16,0**
12,937
7,*27
6,69*
7,295
wte
Montlia:
19^8- January
March
770
607
588
AprU
I468
May
June .....
k32
*97
July
August,
Septaalwr.
,673
*73
.
Fetiruary.
,
.
October.
loTsaber.
DecoEber.
.
t>12
"•15
IH9
5*0
.
Psrcont of
monthly
redanptlons
to SBOunt
outstanding
February 1949
27
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptione of Series E, F, and G - (Continued)
SaloB 1/
Accrued
discount
ABtomit
RedsDqjtlone 2/
Sales
plus
accrued
dlecount
Salee
price
Accrued
dlecoimt
outstanding
{ Interestbearlng
debt)
Percent of
monthly
redoubt ions
to amount
outstanding
(In millions of dollars)
FiBcal years:
19UI
19^2
19^3
19Mt
19^5
67
,
758
802
679
,
19^
i)07
19^7
360
301
19*tfi
67
2
67
760
811
3
3
1.99
17
57
1,21.2
698
17
58
89
88
2,601.
33
1.U0
11.9
11.7
1.7
1.07
61
362
203
206
197
198
2,895
3,099
3,255
7
35
9
19
1,996
Calendar years:
igi+s
208
652
2
051.
7
19'»3
71.5
1.
19UU
773
595
325
13
25
35
77
106
189
3li2
51.
1(98
67
750
786
621
365
396
566
Ipfil
,
m5
19W
19^*7
191*8
208
1.0
207
203
222
851.
1,569
2,278
2,793
2,969
77
101.
185
196
3,162
3,505
Monthfl
19'*B- January.
.
February.
March
April
May
June
51
ItO
30
l»3
35
17
18
17
20
25
21
27
21
17
19
,
July
August.
Sept«Bher.
.
111.
17
19
22
19
22
21
19
19
20
17
18
30
16
395
1
12
55
251.
18
.
Ik
October. .
Norember .
December.
11.
15
2?
16
17
10
1
1
3,196
3,222
1
3,21.0
.52
.55
.52
16
1
3,21.7
18
20
1
1
3,250
3,255
21
20
1
3,1.87
.62
1
3,"»88
3,'>87
.62
.55
3, '•89
3, '•91
.52
3,505
.1.7
n.a.
n.a.
n.a.
n.a.
.53
.58
.61.
.1.9
Fiscal jeare:
191.1
I9I.2
395
2,032
2,759
2,876
2,658
,
,
igiis
19U1.
191.5
191.6
2,1.65
2,561
1,907
191.7
191.8
2,032
2,759
2,876
2,058
2,U65
2,561
1,907
1
12
55
13I'
ISI*
220
220
391.
2,1.11.
5,119
7,861
10,299
3I.8
31.8
1.69
1.69
12,1.16
ll.,508
566
566
15,850
2
29
89
181
2
29
89
181
261.
261.
1.26
1.26
Calendar years:
1,185
2,516
191.1..
191.2
19l»3
2,891
2,520
2,637
2,267
2,573
1,185
2,516
2,6to
2,891
2,520
2,637
2,267
2,573
2,61«)
191.1.
191.5
I9I.6
191.7
19U8
512
512
618
618
1,183
3,669
6,221
8,931
11,186
13,397
15,152
17,103
Mo nths:
21.8
21.8
1.6
1.6
15,35lt
February.
March
201
175
201
175
1.5
'5
50
50
15; 510
15,63''
.30
.29
.32
April
May
June
128
110
136
128
110
136
1.6
1.6
55
57
55
57
15,717
15,771
15,850
.29
.35
.36
July
August. .
Sapt«sber
1,01.8
1,01.8
57
55
51
.3^
122
9^
57
55
51
16,81.2
122
16,908
16,952
.33
.30
October.
Norember.
December.
96
96
95
120
52
53
51
52
53
51
16,996
17,039
17,108
19I.8- January...
Source:
1/
9"i
95
120
Dally Treaaury Statement; Office of the Treasurer of the U, S.
Beginning with June I9I+7, Series E sales Include small amounts of
unclassified salee consisting of Series E, F, and G. These amounts
are substantially less than the sales reported as unclassified in
the Daily Treasury Statement
The greater part of that item consists of sales for which information is available as to the series
but not the year of issue. On the basis of that information such
sales are included in this table according to series. Prior to
June 19I.7, it was possible to distribute by eerles all sales re.
2/
1/
n.a.
•
30
.31
.30
ported ae unclassified in the Daily Treasury Statement.
Series E reden^tlone Include email amounts of unclassified Series
A-D redemptions beginning with October 19**^, and email amounte alao
of unclaaslf led F and G redemptions, beginning with June 19'*7.
Not calculated for matured series
Not available.
Less than $500,000.
..
.
6
e
k
..
k
9
5
k
8
k
k
k
Treasury Bulletin
28
UNITED STATES SAVINGS BONDS.
Table 4.- Sales of Series E, F and G by Denominations
Salea in llXlope of dollars at leaue price
Total,
(Ol
nations
Percentage distribution of aales
DanoBl nation
$10
1/
50
*?5
$100
$300
1/
$500
$1,000
$5,000
$10,000
i/
Total,
all
denoBlnatlona
DenoHl nation
$10 1/
and
$?5 ?/
$50
7.1
17.5
36.1
35.1
6.5
9.7
13.1
13.9
$100
and
$200
y
$500
anl
$1,000
Fiscal years:
Wkl
203
3,526
8,271
19112
19''3
iglik
19'>5
19>t6
WkT
I9W
Ik
616
2,988
U,a20
U,553
69
6,739
6I>
li,287
li,026
16
I.,
11.9
3,928
2,101
860
678
13
3U2
1,081
1,6U2
1,725
910
I109
371
l4l
813
l,71'i
2,581i
2,l"06
1,102
585
583
197
120
122
kl
637
1,007
1,397
1,326
77k
617
589
2,100
1,591
1,681
1,678
100.0
100.0
100.0
100.0
100 .0
100.0
100.0
100.0
k50
1,313
1,815
2,163
2,002
l,k02
1,667
1,762
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
93
1,U9
l,k8l
2,01.8
20.
3k.
Ik.
32.1
20.5
17.0
13-5
9.5
9.2
23.0
20.7
21.9
20.8
19.3
l6.k
17.5
10.0
29.5
36.0
8.1
22.6
U.9
22.
13.
Ik.
Ik.k
21.0
21.9
19-9
U.6
17.
66.0
k9.8
30.1
29.1
29.7
35.1
53.6
56.3
Calendar years:
WW
l.lliS
Ilk
igks
5,989
WkS
lo,3i»it
IgW"
19*5
12,380
9,82?
1,769
3,719
•1,2^
3,2'>3
1,177
735
708
Wlifi
KkT
11,085
k.22li
WW
93
712
1,390
1,797
1,U16
516
379
399
258
1,338
2,169
2,706
1,81.2
637
571.
619
229
856
.253
,kk6
115
138
120
132
,119
56k
603
601
3k.
33.9
27.1
18.2
16.
59.3
36.2
29.6
29.2
31.8
k3.9
55.5
55.9
9.3
9.5
17.0
17.8
7.0
8.1
9.2
15.0
16.0
65.
17.8
56.6
18.2
56.2
57.2
55.0
Months:
79
367
383
60
MflJ
320
305
June
58
U8
13
10
56
12
2k0
171
161
100.0
100.0
100.0
Ik.k
16.
53
U7
bit
100.0
100.0
100.0
16.6
16.1
17.2
17.8
U9
59
13k
13k
IkO
9.1»
9.3
9.6
17.
3''1
10
9
11
July
August, .
September
379
59
53
60
51
166
131
30k
57
l>8
12
11
10
Uk
100.0
100.0
100.0
15.6
18.1
18.8
8.8
10.1
10.6
17.2
18.5
19.2
58.3
53-3
51.
October.
Rorenber
December.
305
308
399
59
1.8
50
63
Ilk
109
150
100.0
100.0
100.0
19.3
20.2
19.0
10.6
62
10
10
13
10.8
19.1
19.6
19.1
51.1
k8.9
51.2
10,11.2
505
30.2
12.8
20.3
36.7
23-7
19li8-Januflr3r
.
February
March
It
.
.
April
52
63
.
.
.
Inception through
December 19^..
52,11511
51
75
151'
15,706
6,703
6,670
12,57k
12.6
11.
61.5
Series 7 and G
Fiscal years:
19kl
19k2
19k3
19kk
19kfi
19k6
19k7
19k8
k6l
2,k67
3,517
3,678
3,337
2,873
2,920
2,209
6
71
106
13k
109
61
k5
37
13
Ikl
229
291
255
179
169
136
96
702
1,016
1,156
1,012
901
938
722
8k
1,393
3,168
3,385
3,66k
26
98
123
131
8k
k7
57
196
267
293
215
166
153
115
355
906
1,116
1,119
933
928
8kl
600
279
63k
687
670
537
611
5k6
Ik
12
12
263
1,055
l,k66
l,k09
1,362
1,172
1,156
851
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
1.2
2.9
3.0
3.6
393
676
1,331
1,187
l,kk5
l,3k2
1,208
1,027
1,930
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
1.8
3.1
3.6
3.6
2.7
1.6
1.5
1.1
78
61
63
50
k2
lk5
123
".3
100.0
100.0
100.0
1.3
1.2
1.5
31-7
8k
9
9
10
k8
31
26
32
58
k5
60
100.0
100.0
100.0
1.9
2.0
1.8
38.
12
6
65
5k
19
20
1,159
81
100.0
100.0
100.0
1.2
1.9
6.0
27.0
39.7
37
39
k7
23
2k
30
k2
37
52
100.0
100.0
100.0
1.9
2.1
2.0
39.7
k2.5
39.8
6,798
l.,358
10,lk7
100.0
2-5
k98
696
683
595
556
612
k63
3.3
2.1
1.5
1.7
3l'.l
35.
39.3
37.9
37.6
37.9
38.9
Calendar years:
19kl
19k2
19k3
19kk
19k5
19k6
19k7
3,U5
2,962
2,609
3,071
19k8 p
ko
32
29.6
3k.
ko.9
38.5
36.8
36.0
38.2
23.3
Months:
19k8- January
February
March
291
2k0
205
April
May
June
IkS
127
155
July
August
September
October p
Iforember p
.
.
.
December p.
.
.
Inception through
December 19kfl p
Source:
X/
2/
k
3
3
3
2
3
1,29k
IkO
108
2
2
UO
2
111
lk2
2
23,367
3
kk
50
32
36
7
3
20
582
l,k62
Dally Treasury Statement and reports from Federal Peserre Banks.
Sale of $10 denomination Series E bonds vas authorized beginning
June 19kk for sale to the armed forces only.
Sale of $25 denoainatlons Series F bonds vas authorissd in December 19kl.
2/
p
*
.2
30.
36.6
kl.5
38.9
Sale of $200 denominations Series E bonds began In October 19k5.
Preliminary.
Lees than $500,000 or less than .05 percent.
Bsbruary 1949
29
UNITED STATES SAVINGS BONDS.
Table 5.- Sales of Series B Savings Bonds* by States
(In thousands of dollars at issue price)
Total,
Inception
through
Doc. 31,
191.8
Apr.
19lt8
Alabama.
Arizona.
3,688
1,1. l«5
2,1.21.
2,260
1,096
2,289
962
331,976
2,596
3,053
1,173
2,312
2,31.2
1,121.
1,61.0
U,112,0UU
uiu,ae9
925,186
29,137
3,553
2U,668
3,332
23,010
2,886
20,336
2,56U
l.,082
l.,21.1
3,21.1
629
3,317
3,635
3,1.53
Arkanaafi.
California.
Colorado ....
Connecticut.
591,093
185,31*3
May
5,11.5
July
3,061
1,305
Sept.
Aug.
2,lBo
1,012
1,569
2,269
851
l,6u
2,171.
19,559
2,977
17,550
2,686
19,053
l.,758
11,271
3,376
1,219
2,030
1,969
1,090
1,703
2,621.
21., 1.63
21,335
2,607
3,339
19,583
2,839
5,122
675
6U0
3,183
3,1.75
3,1*85
l.,1.70
l.,3l.8
701
3,1«»
3,058
3,21.3
3,057
2,778
3,257
052
1,003
31,295
2,966
806
30,587
2,930
761
3,12lt
816
2,693
800
3,772
921
28,91.8
27,lil0
27,11.6
32,361.
9,11.9
3,695
9,590
3,723
9,306
5,731
8,757
3,950
5,508
7,938
9,102
9,271
15,330
6,080
2,733
2,621t
2,1*80
2,607
1,1W.
1,71.6
2,1.09
18,862
2,763
I., 019
22,lU0
3,129
i.,508
3,235
U,328
570
l.,255
3,572
761
k.lW.
3,558
2,921.
3,021.
3,1.63
871
970
91*7
1,583
2,906
1,015
2,911.
l.,831
I
Delaware
District of Columbia
Florida
Georgia
Idaho
Illinois
.
.
.,
Indiana.
Iowa ....
807
l.,Ol.l
703
3,761
631,602
l.,975
l.,36o
686
3,685
3,537
637,6^2
166,951
3,928,165
l.,1.22
3,1.73
1,571.
2,902
1,096
1.6,025
33,022
29,81.3
823
35,856
26,1.01.
32,1.55
12,850
25,958
10,1.01
16,701.
3,293
9,ito
7,681.
ll.,38l.
ll.,331
11,186
7,51.1
10,559
U,290
5,300
1.,812
9,U80
13,072
7,058
561,509
l.,931
l.,139
3,887
1,611.
1,166
2,837
1,108
2,581.
227,095
3,110
2,960
1,136
2,692
3,1.27
3,268
2,861
865
14,897
U,361.
3,729
3,332
1,032
5,U0
577,13''
1,167
3,331
2,938
1,053
669,759
3,356
3,022
3,077
3,530
8,1.69
8,251.
3,202
6,896
15,892
8,51.3
10,11.1
12,781
17,862
3,666
8,927
15,502
3,317
8,U02
13,790
3,006
8,273
11., 167
8,161
1,591
6,91.7
1,1.91
7,1.56
7,1*20
1,396
9,703
7,230
1,582
9,1W.
6,986
1,396
9,259
8,972
1,912
10,356
6,1.73
8,888.
9,116
2,332
12,705
8,771*
1,560
8,350
1,807
10,706
l,381t,7l»8
1,312,759
777,672
EajiBas.
628
122,237
6U7,66l*
Kentucky
Louisiana.
Maine
.
971
1,1.53
I.,
12,982
6,257
5,21.1
1,U0
563
5,211i
71.1
3,131
2,937
1,331*
Maryland
Massachueetta
Michigan
2,718,203
3,708
11,153
18,993
17,358
13,709
Minnesota.
Mlsslselppl
Mleeourl.
1,120,677
352,539
1,335, '•70
11,652
3,153
13,396
8,937
2,339
11,298
8,111
2,261
10,821
Montana.
Hebraaka
Nevada . .
260,161
3,350
7,737
2,316
1,790
8,687
2,186
2,096
5,223
337
5,1.87
l',259
5,1*77
2l47
1,8U8
7,121
362
1,786
303
2,173
7,029
337
1,1.85
351.
1,536
6,065
288
852
61,830
1,990
12,168
302
1,1.53
651,li01
266
287
363
New Hampshire.
New Jersey
New Mexico
ll>3,809
918
61.1.
61.1
503
618
760
ll.,l.78
11,701
U,8l2
10,81.9
10,8ol4
12,1.83
708
592
71.7
671.
672
632
11,959
703
661
10,880
705
675
12,901
701
617
11,673
758
721.
1,89U,858
121,373
661
11,687
New York
North Carolina.
North Dakota..
6, 315, 06 It
56,518
3,619
3,307
Ul,872
1.0,1.914
38,lUl.
1.1.,717
1*3,013
31*,
575
1.2,1.51
3,1.77
3,1.1*9
3,1.62
2,171
U,259
2,785
3,1.28
3,055
3,702
1,659
2,589
39,596
2,719
1,862
36,01.0
3,791.
35,779
3,030
1.1,693
l.,35l.
1,757
2,391*
2,779
5,205
2,530
Ohio
Oklahoma.
Oregon .
3,136,393
627,685
636, 95U
25,559
20,1.62
5,01.1
3,601.
19,727
17,290
16,553
2,607
21,098
5,231
3,858
19,719
3,876
2,883
19,327
3,801
3,055
18,631
3,71.6
2,11.5
21,565
5,023
2,905
19,875
l.,199
Pennsylvania. .
Bhode Island . .
South Carolina.
3,91^6,182
2811,967
31,128
25,858
1,775
27,251
22,062
30,1.1.7
25,8U8
21.,
056
25,276
1,91.2
1,51.7
1,631.
1,1.16
1,1*36
335,582
1,277
1,91.9
1,873
1,592
2,299
1,1.36
1,1.03
1,531
1,730
283,ltl5
'.,557
3,981
14,096
3,6W
U,07l4
l.,195
3,1*31
2,306
626,055
5,393
1.,182
12,892
3,535
13,976
3,860
9,535
3,091.
17,1.50
2,879
10,323
•2,71.8
2,027,1127
3,161
11,186
2214,756
890
607
1,169
870
315
1,11.9
393
1*31
l.,39l.
I.,2l6
1.27
l.,1.08
1,007
295
5,21.2
1,061
U85
5,901
1,1.91
'',707
1,067
397
5,288
151
l*,592
1,017,096
5,162
5,271
'.,968
3,723
l.,1.35
l.,87l.
U,695
I|,01U
3,1.22
2,91.0
3,11.7
3,801.
10,697
897
8,510
831
7,150
623
7,070
581
8,993
772
3,039
7,961
807
3,131.
1,171,058
107,701
3,520
7,512
676
6,089
3,275
l.,330
Ii60,li63
11,619
3,081t
7,lt26
1,699, 3't2
.
.
.
.
.
.
683,280
273,323
.
South Dakoca.
Tennessee ....
Texas
Utah
Vermont
Virginia.
83,300
901,070
,
Washington. . ..
West Virginia.
Wisconsin
Wyoming
Alaska
Canal Zone
Hawaii
Puerto Rico
Virgin Islands
Other possesalons.
Adjustment to
Dally Treasury
Statement
Total 2/.
Source:
1/
2/
30,075 1/
33,1*73
268,715
38,6U1.
1,863
2,1.66
.
9,1.98
Seg
l.,96l
3,21.6
n.a.
212
266
9U
1
73
1.57
9,868
331.
11,1.92
8,871.
783
l.,336
2,370
21,572
5,669
2,761
25,585
1,366
1,765
25,1.95
1,1.61
1,731.
28,566
1,679
2,617
2,762
2,1*98
2,691*
9,025
9,51*0
2,606
2,582
9,021
2,871.
3,131.
10,321.
1,252
992
n.a.
2,51*5
It,
7,363
616
275
6k
1
81.
2
92
361
111
6
75
I.5I4
II.I
+1.2,1.76
+7,936
+16,931
-20,978
+32,701
+31,808
+3,618
305,335
31.1,252
378,590
333,728
303,990
039
383,166
319,966
U,86l
38I.
29I4
233
78
10
92
1.21.
8,51*8
7,701.
8,751.
331.
181.
1.02
1,128
3,1.63
6,880
768
n.a.
275
11,760
l.,012
n.a.
282
1.98
Daily Treasury Statement and reports from Federal Peserre Banks.
Cumulative through March 31, I9I17.
Beginning with June I9I17, Includes small amounts of unclassified
sales consisting of Series E, F, and G. Thess amounts are suhstantially loss than the sales reported as unclassified tn the
Dally Treasury Statement. The greater part of that lt«m consists
853
992
370
U,262
n.a.
302
231
+3,117
111,051.
l',725
10,198
16,092
2,808
590
66
2
65
366,91.8
9,782
l6,U53
3,0911
8,lil7
1*,1.57
221.
+38,510
511,
23,187
1,321
1,618
U,216
n.a.
1.78,868
52,
1,1.55
3,71.9
21.7
n.a.
*371,962
li
3,299
1,81.3
I.,
3,1*1*7
83I.
n.a.
317
367
210
uu
1.22
I1I7
93
1
81.
91
35
53
11.3
2
1
2
88
68
60
1.5
2
181
1.3
808
+19,965
+l|l*,921
305,131*
307,891
398,687
-It,
1
of sales for which Information is available as to the series hut
not the year of issue
Prior to June 19I17, it was possible to
distribute by series all sales reported as unclassified in the
Daily Treasury Statement.
Not available
.
. .
.
. . . . .
Treasury Bulletin
30
UNITED STATES SAVINGS BONDS.
Table 6.- Sales of Series P and G Savings Bonds Oomblned, by States
(In thouaandA of dollars at Issue price)
Total,
loceptloo
through
Doc. 31,
191^
Alaben..
Arlsona.
Arfcanssa.
California..
Colorado
Coimectlcut.
Indiana.
Iowa
Kansas .
719
362
772
1,23k
kOO
875
6,535
8li2
353
1,229
271
575
1,513
3,173
11,803
1,861
3,919
8,596
1,358
2,9»7
7,306
1,179
1,653
9,513
l,k23
2,081
37,116
k,ko8
38,193
.763
,lkk
,lk8
362
1,625
1,979
680
1,535
2, ceo
kk9
1,39k
1,663
266
1,685
1,61k
k30
l,5k6
2,295
1,757
9,6k2
6,757
331
615
1,602
l,5li6
1,12k
869
15,253
932
k36
12,000
1,371
309
16,517
3,998
293
7k, 528
1,*57,391
17,256
2,552
5,269
Ik, 371
6o,li95
678
1,721
3,655
208,870
51,930
i,a?u,i5i
2,178
579
28,082
5W,027
8,373
12,229
616,767
279,689
'',321
Aue.
587
k30
650
l,36li
199,302
250,293
July
MbJ
l,6k6
376
709
2,358
558
1,211
lfi9,5?9
Georgia..
Idaho
Illinois.
Apr.
169,361
51,k»7
131,637
W.8,923
Delavare
District of ColuBbla.
noi;lda
19k8
628
1,226
lilS
306
20,221
20,079
Sept.
1,025
lk5
876
302
705
290
537
W^
6,860
1,118
1,255
6,89k
1,183
1,736
k,960
893
1,385
208
1,293
1,08k
1,159
k37
1,258
l,8k8
138
1,179
1,366
813
270
12,321
1.093
lk6
10,583
1,071
26k
12,021
27k
10,538
779
M3
3,566
6,557
3,802
1,82k
3,916
6,3k7
1,916
5,762
7,575
3,083
21,358
I6,k02
5,769
3,k8k
k,672
2,k32
3.606
3,732
2.692
3,32k
k,658
2,108
2,993
k,76l
1,782
3,276
1,533
l,OSl
2,973
2,2k6
1,196
777
2,007
952
585
3,825
l,kk8
1,263
6,232
3,008
7,269
1,665
1,101
609
1.893
805
631
1,330
779
362
l,kk5
796
355
2,025
5,85k
k,17k
2,259
k,800
3,683
2,518
7,kl9
6,205
16,506
88,050
21,873
1,970
k.kko
2,799
1,279
3,572
3,126
3,123
k,U93
3,192
l,k21
3,672
2,587
3,k53
k,127
858
6,006
10,663
2,795
15,265
2,831
6,lli5
3,k67
539
3,873
3,33k
2,861
605
3,727
2,820
k6l
3,582
3,070
562
3,680
895
6,275
285
881
2,8k0
353
526
2,k78
689
3,197
2,3k7
10,866
57
89
398
l,9kl
71
k35
2,0k3
kk
k28
2,39k
126
593
1,582
100
21.6
3,80k
321
332
3.360
270
12,0kl
961
751
5,779
8,911
5,938
5,890
12,
Eentuck7 .
Louisiana.
Maine
287,055
3, '•09
215,3''7
135,518
2,788
1,785
Mazjland
Massachusetts
Michigan
3'>0,708
li,306
3,122
3, '•35
1,136,735
656,650
15,189
12,77l»
7,181
9, '•05
5,8W.
5,11.9
Minnesota.
Mleslealppl
Missouri...
k68,159
116,339
62U,107
8,131
1,526
8,2U9
5,372
835
5,367
l»,738
Montana..
Rebraeka.
ReTsda...
79,000
276,583
21,998
1,313
5,507
179
882
3,9liO
92,062
907
8,013
532
1,361
1119
6,01i2
U,879
31'5
1.01.
3k9
k,k00
k33
202
3,951
2k6
799
6,029
289
k,32k
18,667
570
197
k,059
380
303
3,6k5
266
5">,307
3"<,301
2,815
1,387
2,263
1,50k
28,126
1,529
672
20,913
1,716
735
17,kll
1,288
781
26,006
2,026
911
232,370
k,9k9
2,172
19,836
1,13k
606
13,82k
896
5k3
18,095
l,lk3
708
8,205
965
1,201
7,782
1,156
813
7,189
l,2kk
l,lk3
k68
118
685
10,33k
8,765
392
33k
8,971
koi
k69
8k9
719
1,05k
2,570
.
New Haopehlre.
Hev Jersey .
Hev Mexico....
.
.
Hew York
North Carolina.
North Dakota .
.
Ohio
Oklabooe.
Oregon.
.
.
South Dakota.
Tennessee ....
Texas
19,822
3,818
Sales to ca
banks g/
5k3
9,739
1,272
1,627
7,983
l,k05
1,122
6,982
1,213
1,269
10,808
1,808
1,209
k5,933
5,653
k,13k
Ik, 1.31
12,150
657
80k
9,835
9k2
621
Ik, 391
862
l,k08
36,675
7,375
2,6kl
8,923
7k2
657
98
2,lli7
l.UliO
16,137
1,890
91.9
1,19k
1,183
91, toll
1,802
3,906
7,87U
1,215
1,M>3
U,898
l,k78
1,335
k,088
l,7kk
1,552
3,697
1,01k
1,370
3,832
l,k66
1,535
5,03k
2,91k
7,970
11,219
1,066
3,137
952
929
2,707
2,987
721
610
3,612
6b9
1,903
306
200
1,959
333
289
1,518
195
208
1,31k
337
307
1,820
2,825
l,k83
5,973
113
219
1,321
138
335
1,222
262
l,k00
208
21k
1,557
2,0k6
979
5,086
107
2,089
720
k,3k6
2kk
1,751
l,kk9
6,652
2k5
12,6k9
k,kk7
21,890
507
1,737
68k
k,626
?k5
l,k90
1,607
750
3,898
278
1,316
802
3,196
305
50,
Alaska
Canal Zone
Eaval 1
Puerto Pico
Virgin Islanls
Other possessions...
620
3,59k
22,805
2,260
1,639
nk
299, k26
.
l,li2U
860
1^,765
l<8,190
Washington. .
West Virginia.
Wisconsin
WjcHlng
10,890
1,106
1,796,276
172,013
120,956
226,690
608,077
Otah
Vermont.
Virginia.
1.1>2
315,557
125,795
599,151
3,1.914
11,621.
2,306
1,801
9,133
1,71.0
5,531"
38,6117
9I1O
726
5,k79
282
5,3''9
6,9li2
326
n.a,
1/
61i,06l
29
263
931
13,853
5
13
1.9
18
217
26
n.a.
103
n.a.
Ikl
222
11
3
n.a.
Ik
375
2
n.a.
13
l,k5k
19
8fc3
9I1O
n.a.
12
153
29
31
kk3
3k6
716
3,72k
261
n.a.
5
9k
15
153
n.a.
k
n.a.
33
10k
1
98
3k
erclal
Adjustasnt to
Dallj Treaaui7
Stateaent
2/
9U,li6k
172,20li
.
Source:
1/
3,751,931
255,123
1,265,662
PennsjlTanla .
Phode Island.
South Carolina.
Total i/.
709,!t22
•13,076
195
1,31.2
k26,295
1,321,775
162,07k
-16,165
2li,7li9
+12, 10k
+2,617
+387
23366,963
291,285
2k0,35k
20k, 971
Ik8,kl5
126,813
Dally Trsasurj Statanent and reports frcn Federal Peeerre Banks.
CiaulatlTe through March 31, 19k7.
State riguree exclude sales of Series T and C bonds to cc^aerclal
banks. Co^erclal banks vers peralttad to purchase Sevies f and C
bonds under certain conditions during the calendar year 19kk
("Treaflury Bulletin" for Deceaber 19kk, page 36, footnote 9): frosi
Jime 18 through June 30, 19k5 ("Treasury Bulletin" for rebruary 19k6,
+16,292
+17,925
-1,190
-8,063
155,373 1,29k, 127
139,165
107,778
U0,lk3
-2k, 217
+10,
U8
110,773
page 37, footnote 9); fro« Deccsiber 3 through Deceaber 8, 19*5
("Treasury Bulletin" for February 19k6, page A-22); and fVoa July
through July 15. 19k8 (I9k8 annual report of the Secretary of tjie
Treasury, Exhibits 10 and 12).
S«e footnote 2 to Table 5.
Not aTallable.
1
February 1949
31
UNITED STATES SAVINOS BONDS.
Table 7.- Redemptions of Series A through E Savings Bonds, by States
(
In thousande of dollare at current redemption values
19l»8
Total,
Oct. igkhDec. 31,
Apr.
19lt8
Alabama.
Arizona.
Arkansas
259,221
1*,136
99,'»35
ll»5,l6o
2,213
2,755
1,977,630
187,508
327,771
1*0,859
Delaware
District of Columbia
Florida
U7,725
253,096
828
5,073
31*3,338
6,615
Georgia..
Idaho ....
Illinois.
286,858
5,969
6li,505
1,31*1*
1,567,309
36,775
574,0911
8,592
7,606
.
California.
Colorado ....
Connecticut.
Indiana.
Iowa.. ..
Kansas
.
.
Maryland
Massachusetts.
Michigan
l*,177
2,012
2,582
3,973
1,869
2,1*97
Sept.
Aug.
3,872
1,821
2,292
3,593
1,61*7
2,511*
3,636
1,751
2,173
3,772
1,62U
2,519
3,568
3,2lt3
1,631*
2,285
1,638
1,905
1*0,550
33,631
37,91*5
28,673
1*,071
3,1*91*
2,3lt9
6,129
5,671
3,1*63
5,631*
3,517
5,502
33,931
3,509
5,776
32,196
3,826
5,995
5,5ltl
5,199
31,870
3,502
5,051
610
3,876
5,721
791
5,557
6,371
776
7lt0
766
l*,9l*2
6,520
6,198
818
5,359
5,725
732
5,213
797
U,93U
1*,683
6,1*52
1*,358
1,331*
22,1*10
5,268
l*,86U
5,033
1,11*1
28,1*26
1,710
27,377
1,11*3
9,162
12,093
5,560
9,1*97
8,761
8,661
5,509
9,51*7
9,827
6,053
27,206
701
827
28,700
I*,
5,11*3
1*,61*5
6,092
5,730
5,71*5
5,66U
1*,513
1,1*92
l*,5l*0
1*,539
1,1*56
3,866
910
25,119
24,61*6
8,363
7,536
3,38U
8,041
7,299
4,930
9,021
8,624
3,396
3,373
1,366
3,308
3,504
1,284
3,522
5,806
12,960
18,515
28,1*27
1,063
26,563
9,071
8,316
8,927
7,858
1*,805
5,121*
It,
26,658
1*,098
1*,362
li,l66
3,957
2U3,338
83,999
It,
It,
356
1,530
It,
392
1,621
1*,259
1,1*55
l*,19l*
3,905
It, 239
1,611
1,31*1
099
It, 327
1,331
5,076
l*,725
10,1.69
18,1.95
9,861*
1*,957
10,1*11
17,1*56
805
10,015
16,809
4,626
10,079
17,555
7,028
2,096
9,828
6,967
1,736
8,676
7,651
1,844
9,808
U,458
1,562
4,181
411
1,407
3,905
440
279,973
612,259
1,195,717
099
3,1*01
1,31*3
1,237
U,978
l*,2l*2
1*,898
11,1*53
9,038
15,102
11,321
17,958
16,637
5,71*8
11,201*
18,933
5,169
10,380
18,622
5,208
10,990
19,821*
3,817
l*,105
1,1*71*
It,
9,6U
2,361*
9,251*
2,1*50
.
2,51*0
11,51*5
11,062
10,652
8,751
2,365
11,202
10,1.27
8,390
2,308
10,287
Montana.
Nebraska.
Nevada
83,189
200,161
29,259
1,900
It, 896
522
1,282
1,817
1,789
1,785
1,91*8
1,71*9
1,811.
1,1.1.0
1,331*
1*,005
5,01*1
li,l*19
U,
l*,5l*2
l*,02l*
3,965
563
590
521
351.
607
1.32
U,130
596
3,006
1.9I*
53,601
731*
13,995
59,876
1,21.8
939
12,820
1,178
1,022
6911,231
735
9,750
935
12,270
1,066
1,030
12,110
1,207
933
11,278
1,138
872
12,287
1,152
Now York
North Carolina.
North Dakota. .
2,01*2,933
1*9,190
5,01*0
30,320
3,837
36,666
5,129
3l*,669
31., 81*3
277,093
5,11*8
1*,8U7
6o,61»3
1,116
91*8
1,1*65
1,281
1,1*56
Ohio
Oklahoma.
Oregon .
1,261,61*2
273,391*
280,8148
20,71*1*
Pennsylvania. .
Rhode Island. .
South Carolina.
1,59'*,905
.
South Dakota,
lenneaeee.
Texas
.
.
Utah
Vermont
Virginia,
.
Washington.
Vest Virginia.
Wisconsin
Wyoming
.
.
12,1*62
1,193
1*1*6
891
813
872
12,231
1,101
1,000
13,805
1,033
33,207
I*, 719
933
36,390
It, 125
1,001
37,370
4,327
1,027
44,217
4,808
1,057
18,377
4,407
3,562
20,353
26,366
1,647
1,940
27,822
2,006
2,417
21,003
19,807
21,581*
20,139
17,lt33
l*,8l*5
l.,32l.
lt,6sz
6,069
1*,721
1*,292
19,771*
U,1.98
18,627
5,21*1
l*,196
3,535
5,671.
U,039
5,563
3,266
3,385
28,608
1,351
21,21*0
27,838
1,91*1*
2,393
26,875
1,819
2,105
25,955
1,351*
27,861
1,928
2,288
25,971.
1,789
26,032
1,657
2,098
27,752
1,763
2,21*8
30,712
1,807
2,373
1,671
2,131
1,671*
1,961*
1,371
It, 396
18,132
998
3,159
1,632
1*,795
U,7l*l*
1,563
It, 289
1,709
3,978
l.,206
13,1*85
17,576
16,775
11*, 81*0
15,1*21*
1U,920
102,719
28,011
2,051*
2,168
375,01*5
7,791*
550
7,551
1,697
522
7,009
1,390
575
7,353
2,091.
380
5,388
1,555
526
7,588
2,231*
55U
7,283
1*16,1*19
8,156
2,869
7,866
8,519
2,282
7,123
601
6,681
9,11*8
7,11*3
1*,950
9,056
3,31*2
3,668
8,563
3,206
3,219
3,271.
8,1*71*
8,1*98
8,209
81*6
770
81.2
811.
229
303
1,856
190
396
217
1,1*13
361
322
2,326
IU7
363
1,297
308
202
2,197
UUl*
UlU
1,568
621
5
17
-7,963
+11*, 015
-lit, 609
359,1*81
365,551
336,591*
66,071*
273,007
917,721*
190,115
1*27,133
1*0,131*
8,617
878
1,729
235
1*2U
Hawaii
Puerto Rico
Virgin Islands
Other possessions...
99,058
28,972
1,990
927
1*79
675
1*30
71*0
2k
10
10
3
U
+511,971*
-19,81*5
-13,530
.778
-6 ,660
20,793,967
391,599
300,710
+12,8
395,318
388,298
Dally Treasury Statement and reports from Federal Eeserve Banks.
It should be noted that State figures presented in this table are
not necessarily comparable with sales data by States inasmuch ae
bonds which have been purchased in one State may have been redeemed
In another. Moreover, the figures shown in this table are based on
1*36
1,6U5
U58
354,034
+21,792
386,983
1,575
1.7U
2,11.1.
1,529
7,1*63
2,282
12,131*
21,300
5,330
105,508
130,793
1,529
975
16,536
3,896
5,360
5,980
5,201
1*,517
1,126
36,51*5
5,055
1,333
17,051*
1*,933
U,567
332
5,501
1,352
U,325
Source:
Note:
371*
31*,
11,633
Total 1/.
8,726
2,107
38,315
5,351
1,086
Alaska
Canal Zone
AdJuBtment to Dally
Treasury Statement
5,011
1,017
27,031
3,095
8,715
.
887
5,221*
8,1*15
1*,720
1,911*
9,1*71
.
1*90
l*,3l*5
8,536
6,705
.
I*,
2U3,27l»
9,050
5,523
12,985
2,736
15,265
.
5,504
817
U,801
132,761
582,118
.
855
5,565
6,597
1*0,558
3,81*0
1*39,629
New Hampshire.
Nov Jersey .
New Mexico
33,511*
3,511*
37,077
l*,C51
.
.
3,913
1,872
2,163
36,822
2,833
Minnesota.
Mississippi
Missouri
.
3,166
1,570
1,888
7,690
9,378
U,511
396,950
259,129
Kentucky
Louisiana.
Maine
3,970
5,217
3,299
1,585
1,972
July
Maj
1*,529
3,870
1,279
3,971
1,379
1,1*15
1,31*1*
11,327
l.,228
289
14,1.38
3,938
13,380
3,783
12,082
2,900
519
1,31*5
1,31*6
562
7,0^
2,173
591
6,969
6,556
480
6,779
1,844
549
8,092
6,022
3,188
7,727
711
8,552
2,978
7,627
683
5,193
5,1.13
5,771*
2,901*
7,758
2,796
7,126
U7l*
773
3,268
8,831
691
11.,
ll*,955
201.
301.
168
131*
158
1.62
292
1,86U
31.6
971*
1,371*
1.81.
515
358
1,414
528
8
16
13
429
10
+J*,902
+3,362
-6,436
324,864
335,512
365,075
1*35
current redemption values whereas the sales f igiires are shown at
issue price. Data on redemptions by States are not available prior
to October 1944.
Beginning with June 1947 includes small amounts of unclassified
redemptions of Series F and G bonds.
,
Treasury Bulletin
32
TREASURY SAVINGS NOTES
Treasury aavlngB notes (orlgloally designated tax
savings notes) haTe been Issued In four series:
from August
August
1,
Septenber
191*1,
ll*-,
through June 22, I9U3; Series B from
ISl^l,
1,
Series A
pages 42 and U3.
Similar Inforoation concerning Series C
notes
found
will
be
Ootober I945, pages
A-l*
in
the "Treasury Bulletin" for
and A-5.
through 3eptOB'b»r 12, 19M2; Series C from
19'V2,
through August 3I, 1948; and Series D
on continuous sals beginning September 1,
19'^.
Details
oonoernlng terms and conditions for purchase and redemption, and Investment yields of Series D notes will be found
For
details concerning terms and conditions, InTestment yields,
on page A-1 of the October 19Ua 'Treasury Bulletin".
In the following tables sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes redeemed (either for cash or for tax payment) are
included In the figures on redemptions. Matured notes
outstanding are reflected in the interest-bearing debt
see
until all notes of the series have matured, when they are
"Annual Hep)ort of the Secretary of the Treasury" for 19'*2,
transferred to matured debt upon which Interest has ceased,
and tax payment or redemption values of Serlea A and
B,
pages 207 and 220, and for sales and redemptions by fiscal
in acoordanoa with the practice of the Daily Treasury
years and months, see "Treasury Bulletin" for February
Statement.
19't6,
Table 1.- Suninary of Sales and Redemptions by Series, Cumulative through December 31, 1948
(In
Series
mlUlopa of doLlara)
February 1949
33
OWNERSHIP OF FEDERAL SECURITIES,
Table 1.- Distribution of Federal Securities by Claeses of Investors and Types of Issues
(In mllllone of dollars)
End of
fiscal
year
or month
3
.
.
Treasury Bulletin
3"^
OWNERSHIP OF FEDERAL SECURITIES.
Table 3.- Estli ited Ownership of Federal Securities by Bank
tind Nonbank Investors
(Far
Bald
tsd of
onth
Total
federal
aacurltloa
outotand-
Co^vrclal
banks
lag 2/
TaluM ij
-
in
blUlooa of dollars)
banks
1)7
^
Bald by
7sdBral
Reearra
fwii^tKwT^
Mutual
eaTtngs
banks
IndlTlduals kj
Inraators
Other
corporations and
asBoclatlons
6/
^
l939'l>»cmtoeT
1.7.6
18.1.
15.9
2.5
29.3
10.4
6.3
3.1
2.6
I9ilO-JUD»
"•8.5
16.1
17.3
2.5
2.2
29.9
10.3
10.9
6.5
6.9
3.1
3.2
2.5
2.4
State and
U. S.
local
CoTarnBBnt
agenc iea and
trust funds6/
gorem-
BDtS j/
6.5
Dac«aber
50-9
18.6
19.5
1941-Juna
Daceaber
55.3
6*.3
21.8
23.7
19.7
21.4
2.2
2.3
33.5
40.6
U.5
14.1
7.1
8.2
3.4
3.7
2.4
4.4
T7.0
112.5
28.7
26.0
41.1
2.6
6.2
48.3
65.2
18.4
24.5
9.2
11.3
3.9
4.5
5.4
.9
U.6
1.0
10.6
12.2
5.9
7.2
8.9
27.7
31.7
11.2
13.1
4.6
5.3
5.9
6.1
12.1
15.5
20.7
20.0
1.0
1.5
2.0
2.1
15.8
16.9
19k2-June
Dacoadjer
'.7.3
31.5
19^3-Narch
Jima
Septsaber
Decaabar
119.9
1*0.8
l6a.3
170.1
67.2
71.5
44.2
52.2
58.3
59.9
U.5
69.8
81.4
95.1
98.7
19**fc-»1aixh
187.0
20e.6
211.1
232.1
76.2
83.3
87.1
96.5
64.0
68.4
70.5
77.7
12.1
14.9
16.7
18.8
110.8
119.3
123.9
135.6
43.6
46.5
49.2
53.5
97.'.
77.7
84.2
84.0
90.8
19.7
21.8
23.3
24.3
137.7
153.1
155.2
163.6
54.9
59.8
60.7
64.8
20.4
22.7
22.5
22.9
22.6
23.8
24.0
23.3
163.1
163.8
161.7
161.5
161.6
64.6
64.8
64.1
64.0
64.9
24.6
25.0
25.3
25.4
25.3
Juna
Septenbor
Decaabar
19'»5-March
June
Sapteabar
I>»caaa»ar
50.1
59.1.
235.1
259.1
106.0
107.3
115.0
2tie.6
278.7
36.0
38.4
24.1.
.6
.7
23.4
25.9
24.8
28.1
2.6
8.7
9.6
10.0
10.7
26.5
30.9
29.9
4.1.
11.1
11.2
6.8
19.6
.5
7.3
7.7
8.3
3.2
3.5
4.3
7.1
7.6
8.5
9.5
13.1
14.3
18.1
19.1
20.6
21.7
30.2
5.3
5.5
6.5
22.9
24.9
26.6
27.0
U.8
27.9
28.0
25.3
23.6
22.4
6.7
6.7
6.5
6.4
6.3
28.0
28.2
29.1
30.4
30.9
279.8
275.6
269.9
265.8
259.5
116.7
112.8
108.2
97.9
93.8
90.2
84.4
80.2
74.5
260.0
261.6
259.3
97.9
96.8
94.1
73.9
72.7
71.5
23.9
24.1
22.6
i6e.2
164.8
165.2
65.5
66.0
66.5
25.4
25.4
25.1
11.9
12.0
12.0
21.9
23.7
23.3
6.4
6.4
6.7
31.2
31.3
31.6
Majr
257.9
258.5
June
258.1.
93.5
92.8
91.9
71.6
70.7
70.0
21.9
22.1
21.9
164.4
165.8
166.5
66.8
67.0
67.1
25.1
25.2
25.0
12.0
12.0
12.1
22.0
22.5
22.3
6.9
7.0
7.1
31.6
32.2
32.8
Julj
August
259.5
260.2
259.2
91.9
91.9
92.2
70.4
69.7
69.9
21.5
22.2
22.3
167.6
168.2
167.0
67.4
67.6
66.7
25.0
24.9
24.7
12.2
12.2
12.1
22.5
22.7
22.3
7.1
7.2
7.2
33.3
33.7
33.9
259.2
258.3
257.0
92.1
91.7
91.3
70.0
69.5
68.7
22.2
22.2
22.6
167.0
166.6
165.7
66.8
66.7
66.6
24.9
24.7
24.3
12.2
12.1
12.0
22.0
21.7
21.2
7.2
7.3
7.3
33.9
34.2
256.7
254.7
253.1
90.9
88.4
86.0
69.0
67.4
65.1
21.9
21.0
20.9
165.7
166.2
167.0
66.6
66.7
66.8
24.1
23.9
23.8
12.0
12.0
12.1
21.1
21.3
21.7
7.3
7.4
7.8
34.6
34.9
35.0
April
Maj
Juna
252.3
252.3
85.5
86.2
85.9
66.1
65.6
64.6
20.3
20.7
21.4
165.8
166.1
166.4
66.8
66.9
67.0
23-5
23.4
23.2
12.0
12.0
12.0
20.9
21 .<
20.7
7.8
7.7
7.8
34.8
34.9
35.7
Julj
August
Septaaber
253.'.
253.1
252.7
86.5
86.4
85.9
65.2
64.9
62.5
21.3
21.6
23.4
166.9
166.7
166.8
67.2
67.3
67.3
23.0
22.6
22.3
12.0
11.9
U.7
20.4
20.5
20.8
7.9
8.0
7.8
36.5
36.8
October
252.5
252.6
86.1
85.8
63.1
62.6
23.0
23.2
166.1.
67.4
67.4
21.9
21.7
U.6
n.5
20.7
21.2
7.8
7.9
36.8
37.0
19^»6-rabruaz7 (Peak)
Maroh
June
Saptanbar
Daceaber
19i*7-Januar7
Februar?
March
AprU
3apt«bar
October
HoraBiber
Decaabar
19l»d- Januar7
rabruaxT
March
Iforeaber p
1/
10"..
252.'.
166.8
Onlted Stat«fl aaTlnge bonds, S«rl«e A*D, t, and ?, are Included at
curreot i ad cap tion raluee
Includee all securltloB laauad or giiarant««d iy the 0. 8. Gorement, but excludes guaranteed securities held bj the Trsasury.
Cooalsta of cc^iercial banks, truat coapenlea, and stock Barings
banks in the Unltad States and In Terrltorlea and Inaular possessions. Figures exclude securities held In truat departjunte
Includes partnarshlpe and pereonal trust accounta
Includes saTlngs and loan associations, dealers and brokers, and
inrestaents of foreign balances and International accounts In this
country. Beginning with Decaabar 1946, figures Include Inrestasnts
bj the International Bank for Baconatructlon and Darelopaent and
.
2/
^
4/
^
6/
j/
p
n.5
11.7
34.1.
36.4
International Monetary Fund In special nonlnterest-bearlng notae
lasusd by the U. 8. GoTaroaent.
Holdings bj Federal land banks are Included under "PrWate IBreetora" Instead of "U. S. Coranaant aganclea and trust funds"
beginning with June 30. 1947. alnce the proprietary Interest of
the United Statea In these banks ended June 26, I947.
Consleta of truat, sinking, and Inreetaent funds of State and
local goTariBQanta and their agencies, and Terrltorlea anl Inaular
poBSeaalono.
Prellalnary.
February 1949
35
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, lSh&
The Treasury Survey of Ovmershlp covers securities
the United States Government and by Federal
issued by
The banks
and
insurance companies Included
In the Survey account
for
approximately 95 percent of
all banks and insurance com-
agencies.
such
securities
held by
Data were first published
panies in the United States.
for March 31,
Information on
types
of
each month.
banks
and
the
distribution
of
insurance companies
I
-
Table I.- Summary of All Securities
Clasalflcatlon
-
by
published
Additional information showing the holdings
commercial
Securities Issued or Guaranteed by the United States Government
(Par values
is
banks distributed according to Federal
Reserve member-bank classes and nonmember banks is published for June 30 and December 3I.
of
igtl.
Section
ownership
In millions of dollare)
)
.
Treasuru Bulletin
36
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30,
Section
-
I
ISH^S
Securities Isaued or Guaranteed by the United States Govermnent
Table 3.- Interest -Bearing Public Marketable Securities, by Issues
(Far Taluoa
-
in mlllloiu of doilare}
Held b7 inraatora corared in Traaaurj Surraj
(Tax statue 2/ ^^ shown In parentheseB)
Total
aaount
outataodIng
Baoka i/
7,277
cocnarclal
2/
TraaauiT billa
Certlflcatea of Indebtedneaa
l-l/8> January
19''9-A..
1-1/9* FebruajTT 19''9-B
19l«9-C
1-1/8* March
Ixuurance cotqwuilAS
U. S.
Gorem-
Bsnt agencies
32
532
atock
eaTinga
wnit iinl
626 fire,
OBAUaltj,
and marine
331
life
saTloee
(taxable)
12,lil8
2,877
66
169
(taxable)
(taxable)
(taxaola)
2,592
2,169
3,553
l,lliO
815
67
26
1,1.11.
1.7
33
lU
16
and tmat
funds J and
Bald b7
all other
Inrestore
Federal Beeerre
Banks
5,261
3,987
91
97
659
1,163
83
18
68
91
2,771.
1,765
1,70U
:
91.
1.0
1,19".
1,331
1-1/9* AprU
1-1/9* June
1-1/8* July
191>9-D
I9'i9-B
19119-^
(taxable)
(taxable)
(taxable)
1,055
U,301
5,783
361
I.
1,61.5
37
16
12
1,191
l-l/U* October
19U9-0
(taxable)
6,535
2,125
92
W.
175
1,596
2,1.96
a6,oo8
8,690
290
123
570
6.075
10,236
3,535
3,596
1,066
1,898
36
51
10
70
90
ao7
596
2,11.1.
k
7,131
2,96U
87
lU
159
803
3,098
(partially)
(taxable)
(taxable)
571
l.Olk
1,292
608
3
3
67
17
2
56
23
15
SS
19
102
722
117
202
220
(taxable)
.(partially)
(partially)
2,098
5
73
6U
1.1.
*
1,786
1,299
372
1,363
March
1950-52
(taxable)
2*
2-1/2* Septeoher 1950-52. ..(partially)
September 1950-52
(taxable)
2*
1,963
1,186
1,290
1,006
1»,939
1-1/2* December I950
1951-5''
S-SA* June
September 1951-53
2*
(taxable)
(partially)
(taxable)
2,635
1,627
7,986
partially
partially)
(taxable)
755
1,118
U83
1
510
937
366
2
(taxable
(taxable)
( taxable
l,02ll
1.72
5,825
1,501
3,872
836
(taxable)
(partially)
(partially)
8,662
725
681
5,716
633
583
23
S
6
1.20
.(partially)
(taxable)
(partially)
2,611
1,5^
3
1
l,kli9
723
760
29
11
15
109
291.
3
2-l/U* September 1956-59
(taxable)
2-3/U* June
1958-63.... (partially)
December
I960-65
(partially)
2-3A*
3,823
919
1,875
10
7n
U
1,''85
1,023
10
2-1/2* September 1967-72
2,716
Total cartlf Icatea of indebtedneea
Treaauiy notea:
1-1/8* January
1-3/^ April
(taxable)
(taxable)
I9'i9-A
1950-A
Total Treaaury notae
21.
1.
87
771
583
951.
Traaaury bonds:
Bank eligible:
Deceirtwr ISltS-JO
2*
June
19119-51
2*
Saptanber 19<>9-51
2*
DeceDhar
2*
3-1/8* Deeenber
2-1/211 Decamber
19U9-51
I9I19-52..
.
19'»9-53
.
3*
September 1951-55 •
1951-53
December 1951-55
• .
2-lA* Decmber
2*
2-1/2* March
June
2*
2-1 A* June
1952-5'>
1952-5'i
December
June
2*
2-lA* June
1952-5'>
2*
(
1952- 55
1953-55
195''-56
2-7/8* March
I955-60.
2-1/2* March
1956-58
September
1956-59
2-3A*
Total bank eligible
roo^»tes at end of Section II.
(
.
.
(
taxable)
It91
982
62,375
U19
1
13
21.7
170
32
167
U3
3
U
11.
5
s
to
2
59
10
2,821.
7
11.8
139
1
353
39
52
101
1,1.98
2
11
20
5
1
1.6
1.22
308
171.
135
790
2
1
13
35
67
166
1.2
17
73
15
62
23
21
151
lU
113
32
116
515
223
887
16U
1,268
U,8l9
39,561
3
U
I.
1
20
3
212
(Continued on following page)
37
176
266
163
11
151.
11.1
88
1.25
1.9
11*9
60
206
291
27
1,08S
1,039
161
1,1.53
76
1.1
U96
10
31
U
56
1
170
18
57
160
115
56
705
179
89
1.27
215
m
k
7
1
72
103
39
756
75
1.
98
21.7
259
78
19
Ult9
368
2,738
2,182
1,667
5,107
10,908
3
1
305
1
i8e
1.28
1,520
31.
57
February 1949
TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30,
Section
I
-
19'VS.
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest -Bearing Public Marketable Securities, by Issues
(
Par values
-
(Continued)
In millions of dollars
-
Held by investors covered in T^asury Survey
Issue
(TaJc
status 2/ Is shown In parentheses)
Treasury bonds
(
Total
amount
outstanding
7,277
commercial
2/
32
stock
savings
532
mutual
331
life
savings
626 fire,
casualty,
wniH marine
U. S. Govern-
ment agencies
and trust
funds, and
Held by
wTl other
investors
Federal Beserve
Banks
contlnijed )
Bank restricted: 8/
2-l/l»^ June
1959-62
2-l/k% December 1959-fe
2-1/2* June
I962-67
(taxable)
(taxable)
(taxable)
2,U8
2-1/2* December
2-1/2* June
2-1/2* December
1963-68
1960-69
196^-69
(taxable)
(taxable)
(taxable)
2,831
3,761
3,838
2
7
7
6
19
16
March
March
June
December
1965-70
I966-71
1967-72
1967-72
(taxable)
(taxable)
(taxable)
(taxable)
5,197
1.9
3,'t8l
7,967
11,689
Ul
57
362
16
12
119,636
831
2-1/2*
2-1/2*
2-1/2*
2-1/2*
Insurance companies
Banks 1/
Total bank restricted.
Total Treasury bonds.
78
207
21
5,281.
3, ''70
112,011
liO,392
113
50
13
18
13
13
1,592
658
1.53
277
165
60
1,213
1,601.
9I.7
1,181.
373
362
83
79
511
571.
1,1.71.
311.
610
890
1,032
501
295
836
500
978
605
1,153
1,1.70
101
2,277
ll.
328
353
1,125
1,181
760
2,020
1,261
816
2,269
23
1,131.
2,01.9
85
58
103
206
3,1.87
l.,1.29
151
7,727
13,871.
1,217
U,l.l6
lU.tel
16,523
25,329
37
63
U8
363
10,1.61.
1,1.1.1
2,379
16,056
Other bonds
(wholly)
( wholly
Postal savings bonds
Panama Canal bonds
37
163
Total other bonds.
Guaranteed securities:
1
j/
Federal Housing Adjainistratlon deben(taxable ll/ )
tures
Total public marketable securities.
ll.
157,71.5
5l.,9U2
399
10,907
16,367
3,668
Footnotes at end of Section II.
Table 4.- Interest-Bearing Public Nonmarketable Securities, by Issues
(Par values
lesue
(Tax BtatuB 2/ la shown. In parentheaoa)
-
in millions of dollars)
28,698
1.2,761.
Treasury Bulletin
3«
TREASURY SURVEY OF OffNERffllP, NOVEMBER 30, 194g.
Section II
-
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States GoYemaent
February 1949
39
MARKET QUOTATIONS, DEC3EMBER 31, lSk&
Market quotations shovm here are over-the-counter
closing quotations In the New York market for the last
trading day of the month, as reported to the Treasury by
the Federal Reserve Bank of New York.
The securities
Include all public marketable securities Issued or guaranteed by the United States Government except those not regularly quoted In the market.
listed In Section
I
Section
I
-
outstanding
(Millions)
Issues
excluded are
postal
savings bonds and Fed-
eral Housing Administration debentures.
the
only
The latter are
public marketable Interest-bearing guaranteed
securities outstanding.
Section II
lists the public
marketable securities Issued by Federal agencies but
not guaranteed by the United States Government.
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
Amount
The
Table 2.- Certificates and Notes (Taxable)
Treasury Bulletin
1+0
MARKET QUOTATIONS, DECEMBER 31,
Section
I
Securities Issued or Guaranteed by the United States Governoent
Table 4.- Tax-Exempt Bonds
(Price decla&le ar« 38Dda}
Aaount
out•tanllng
(Mllllooa)
19l4-g
6/
February 1949
^1
YIELDS OF TREASURY SECURITIES
Based on Meon
•50
PERCE
52
'54
56
'SB
of Closing Bid
•60
•62
DEC. 31.1948
and Ask Quototions
64
66
68
70
72
..
.
.
.
.
..
..
Treasury Bulletin
k2
YIELDS OF TREASURY AND CORPORATE BONDS.
Table 1.- Average Yields of Long-Term Bonds by Periods
(Percent per annma)
Partially
tax-axe opt Taxable
Treavnry
Treaeiuy
bonds 1/
bond* i/
Partially
ta^-ezflspt Taxable
Q&te
TreanuT
bond* 1/
Trearurj
Iwndi 1/
grada
corporate
bonds
UXm
Hl^rrade
corporate
bond*
Partially
tax-exevpt Taxable
Treamry TreaaTuy
bonds 1/
bond*
Date
i_/
Hlghfrade
corporate
bonds
Annual series - calendar year orera^s of monthly series
U.3g
3.31
3.12
2.79
2.69
1933
193''
1935
1936
1937
1938
2.U1
2.26
2.05
2.09
1.9«
1.92
1939.
19>«0.
3.19
3-27
3.12
2.7'»
2.61
19U1.
igU?.
19''3.
19UU.
2.92
2.77
2.67
2.U6
2.U7
2.Ug
1.66 1/
I9U5.
igiis.
19'»7.
2.37
2.19
2.25
2M
I9U8,
2.W
2.60
Monthly aeries - sreragee of dally figures
19U2-Jaa
f«b
Mar
Apr ...
Mv
June ...
.
2.07
2.06
2.0U
2.W*
2.06
2.08
.
Oct
OT.
2.U8
2.Ug
2.0>«
July...
Aug....
S«pt
.
2.10
2.17
2.10
2.09
2.10
2.13
.
Sac...
19U3-J«n
2.11
2.11
2.12
W>....
Mar....
2.1*6
2.I15
2.'43
2.U6
2.U7
2.U6
2.U5
2.U7
2.U9
2.76
2.80
2.80
2.77
2.76
2.75
2.7U
2.73
2.73
2.72
2.71
2.72
igUU-May..
June.
I.9U
1.91
2.U9
July.
*>«..
Sept.
1.89
1.90
1-93
2.1*9
Oct..
»0T..
Use..
1.93
1.90
1.87
2.Ug
2.Ug
2.Ug
2.61 2/
2.59
19'»5-J«n..
1.81
1.75
1.70
2.UU
2.3g
2.U0
2.58
2.56
2.51
2.39
2.39
2.35
2.U9
2.53
2.5«
2.53
2.56
2.56
Ml..
Mar..
Apr.
May..
2.1*9
2.Ug
2.U7
2.58
2.58
2.59
2.57
2.55
2.U6
2.U6
2.Ug
2.70
2.68
2.70
June.
1.68
1.68
1.63
2.U8
2.68
2.65
2.63
July.
Aug..
Sept.
1.63
1.68
1.68
2.3't
Oct..
Hot.
Dec.
1-51
2.35
2.33
2.33
2.51*
.
1.62
1.56
Mar..
2.21
2.12
2.09
2.U3
2.36
2.35
2.0g
2.19
2.16
2!uu
2.1g
2.23
.
19lt6-S«pt.
2.28
2.26
Oct..
Not..
Dec.
2.2';
2.2ll
Feb..
Mar..
2.21
2.21
2.19
Apr.
Ma;..
June
2.19
2.19
2.22
July.
Aug..
Sept.
2.2ll
19117- Jan..
2.25
2.2l|
Oct..
Not.
Dec.
2.27
2.36
2.39
19118-Jan..
2.ll5
Fell..
2.1i5
2.ltU
.
Apr ....
May
June
v^
.
.
July
Aug....
.
Sept
.
.
.
Oct....
I6T....
Dae ...
19Uli^aa
Pel)
Mar....
2.lt6
1.91
2.115
1.91
1.92
1.90
2.l»5
2.Ug
2.U8
2.58
2.57
2.59
1.90
I.9U
1.95
2.Ug
2.Ug
2.U9
2.60
2.61
2.63
1.95
1.93
1.91
2.U9
2.U9
2.65
2.1l8
2.64
Apr.
Hay.
June.
1.9'*
2.Ug
2.61
July.
fag..
3
10,
2.1.1.
2.1.1.
17
2U
31
Aug.
2.U
2.I.U
2.U1.
2.77
2.78
2.78
2.81
2.82
7
2.1.5
21
2.1.5
2.1.5
2.li5
2.85
2.88
2.87
2.86
1.
2.
2.UU
2.81.
2.1.1.
3.
k.
2.I1I1
2.83
2.83
2.82
6.
7.
8.
2.kk
9-
2.1.U
10.
2.I.I1
H
?8
,
19U6-JaB.
»e1>..
Weekly eerlea
19li8-July
2.36
2.37
-
2.5U
Apr.
May..
June.
2.Uli
July.
Aug..
Sept.
2.W.
2.1>2
Oct..
Not..
2.ll5
i:!a
Dec
2.I1I1
2.U2
2.H
2.l»5
2.ll5
2.ltU
aTeragee of dally figures
I..
2.U5
U.
2.1i5
18.
2.U5
25.
2.1.5
2.
9.
16.
23.
30.
2.1.5
2.1.5
19118- Sept.
Mar..
2.5''
I9I18-N0T.
Dec.
2.1.5
2.1.5
2.U5
2.88
19li8-Dec. 13
lU
2.1.U
2.llU
15
16
17
2.U1.
2.82
2.81
2.81
2.81
2.81
2.81
6.
13.
20.
27.
2.1.5
2.UI1
2.U3
2.1.1.
I4.
2.U1.
11.
18.
2.U
2.1.U
21..
2.1.3
31.
2.1.3
Dally serlea
191.8-060
11.
otei
i/
2.1.1.
2.U1.
2.82
2.82
2.82
2.82
2.82
2.8?
2.UU
2.UU
y
18
20
21
22
Treasury bonds included in the averaccs, beclnnla^ with Seeeaber 1939,
are those oelther dna aor callable for fifteen years. Prior to that
tlae, for years shown Id this table, the bonds Included were neither
Por a discussion of the composition
due nor callable for twelTe year*.
of these aTerm^es, see the 'Treasury Bolletla' for March 19^^, pac« 98;
for the eo^Ktsltlon of the hl(h-^ade corporate bond sTera^e, see the
'Treasury Bulletin* for July 191*7, p*«« 59, "d Jaaoary 19^*5, P*<» 56*
Treasury bond yields are coaputed on the basis of the aean of closlnc
bid and ask quotations In the orer-the-counter aarket, befinnln^
Septeaber 2, 19^1. Prior to that tlae, yields were cospnted on the
basis of closing prices on the lew Tork Stock Xzchauce, except that on
days when an Issue did not sell the yield was coaputed on the aean of
eloslnc bid and ask quotations on the fcohance. Corporate bond yields
are coaputed on the basis of closing prices en the lew Tork Stock
2.1.1.
?.li3
2.1i3
2.81
2.81
2.80
19lt8-Doc. 23.
2.1.3
2U.
25.
2.1.3
27.
28.
29.
30.
31.
5.1*3
it/
2.1*3
2.1*3
2.1*3
Vxohance and the >ev Tork Curb Itohaztca; on days vhan an leeue
does not sell, the price of the last precsdlnff sale Is msed.
\J Por deflaltloa of taxable and partially tax-ezeapt bonds, see
footnotes to the "Treasury Sarrey of oimerahlp" In this Issue
The partially tax-eze^t series
ef the 'Treasury BulletlB'.
was discontinued on fieceaber 19, 19^9, because there were no
longer any bends In this category vlth fifteen or aore years to
maturity or first call.
iTsra^e roTlsed bectnnln# loreaber 1, I9UU. Old arerace for
loTeaber 19^ vas 2.^.
\j Arerace rerlsed be<lonlnc April 1, 19U7. Old aTerafe far
April 191*7 wao 3.1*7^.
U/ Market closed.
^
February 1949
+3
I
Si
I
I
:5i
c
o
Treasury Bulletin
44
INTERNAL REVENUE COLLECTIONS.
Table 1.- Sunary by Principal Sourcesj/
(In thoDBandfl of doUara)
risc&l jsar
or KBth
February 1949
'^5
INTERNAL REVENUE COLLECTIONS
1934
'35
'37
'36
'38
'39
'40
'41
'42
DOLLARS
DOLLARS
Billions
Billions
Individual
Income Taxes
iiI^
u
I
ii
I9J4
'36
'38
'40
'42
Estote and Gift Taxes
Liquor and Tobacco Taxes
'44
46
'48
=
'43
'44
'45
'46
47
48
'49
)
Treasury Bulletin
M,
INTERNAL REVENUE COUilCTIONS
Table 2.~ Detail of Collections by Type of Tax ^
(In tbooaanda of dollar*)
rirat 5 Baotha sf flacal ysar
Flacal yvar
TTpe of tax
igW
19k8
ISkT
rifth aonth of flacal jaar
19W-
19*9
19*9-
19*7
oToter 19^
InccMD and proflta tazaa:
IndlTldual:
VlthhAld b7 ooplojara
Othar:
Currvot 2/
Back
Total iQdlTldual Incoae taxae
Corporation:
Incoae tazaa;
Currant 2/
Back
Ezcaae poroflta tazaa:
Declarod ralue
Perenue Act of 19*0 h/
Anv and Rary contracte
^
^
Total c orpora tlop Inccae and profits tazea
Total Incoas and proflta tazoe
9,8*2,280
11,533,577
5,333,907
k, 898, 052
l,k91,029
1,563,917
8,950,215
550,7113
8,81.7,*69
6l6,73l<
1,581,736
218,910
1,351,81*
235,*56
18,398
*e,397
35,736
k9,298
19,3''3,297
20,997,781
7,13*, 553
6,k85,321
l,557,8e*
l,6k8,95e
5,WH,7T6
8,86l.,251
613,320
987,2*8
2,567,577
225,061
3,lk6,528
226.Wi2
211,*55
37,*6*
232,229
31,195
55,185
3,566,178
17,6*3
305,251
6,583
176,U92
7,085
78,706
1,505
21,879
1,861
1*,578
9,676,1159
10,17*, *10
2,975,71*
3,*58,79*
272,30k
279,863
29,019,756
31,172,191
10,110,267
9,9**. 115
1,830,129
1,928,815
1,''58,93'>
1,612,721
208,508
797,503
25,255
871, *07
185,876
29,761
25*,55*
8,633
296,966
11,739
l,6Wi,8lO
1,821,229
822,758
901,168
263,188
308,706
379,555
560,113
171, *25
200,16*
31,398
56,92*
2, 02k, 365
2,381,3*2
99*, 183
1,K>1,332
29*,585
365,630
1,597
1,723
167
2,760
50
708,7911
822,380
319,715
323,610
53,270
56,61*
70,li97
76,965
7,371
k,l.22
k98
1,070
121,562
1,563,800
109,965
1,326,261
3*,983
2,533
58,k29
k6,9*8
639, *06
16,820
1,396
23,963
53,072
602,186
16,732
1,015
S6,880
9,9kO
183,988
5,123
830
6,067
13,9*8
158,210
*,3*8
k63
6,5*1
9,500
6,2Wi
6,313
7
3
1
157
«
156
*
223
5,801
62
57
1,*55
12
2
*8,*29
85
53,031
85
16
32
&q>lojMant taxae:
Social sacurltj tazaa:
Old-age Inaurance
CbaaplOTaant inaurance
Total eocial eecurltj tazaa
Railroad retlreoent
Total esplOTaent tazaa
MlBcellaneouB Intamal revanua:
Capital atock tax 6/
Satata tax
Gift tax
Liquor tazae:
DiatiUed apirlta (l^ortad, exclae)
Distilled splrite (dcaieetlc, excise)
Distilled spirits, rectification tax
Vines, cordials, etc. (iJHported, ezcise)
Wines, cordials, etc. (dcaestlc, excise)
Dealers In distilled eplrite; rectifiers;
anufacturers of stills (special taxes)
Staape for distilled spirita intended for export.
Caae staapa for distilled spirits 1)ottled in bond
Container stanpe
Floor taxes
FeTventad aalt liquors
Brevers; dealers in nalt liquors (apacial taxes).
Total liquor taxae
Tobacco taxes:
Cigars (large)
Cigars (aaall)
Cigarettes ( large
Cigarettes (snail)
Snuff
Tobacco ( chevlDg and Blanking)
C igarette papem and tubes
Leaf dealer penaltiee , etc
Cigarette and cigar floor tazae
Total tobacco taxae
l>3,li85
2,906
291
5'',
9,W»3
9
7I16
kli7
13,282
153
66l,kl8
3,662
12,036
*3
697,097
ii,oeo
325,5*6
2,673
195
5,63*
12
307,539
2,916
2,'>7»,756
2,255,320
1,069,055
l,022,k96
256,**9
238,295
k8,289
66
6
h6,68e
66
20,677
2*
20,869
26
5
3
k,20k
5
•
*,507
6
2
1,11.5,262
7,055
36,5*8
539
1,208,199
7,372
37,02*
926
519,3*2
3,083
17,069
*06
532,137
2,996
16,01D
3*2
95,665
536
8,730
80
102, k08
576
1
5
1
2
1,237,768
1,300,280
560,605
572,366
103,222
110, *88
32
1,756
•
2,939
52
Staap taxes:
Bonis, Issues of capital atock, deads of
>t9,106
50,771
21,212
20,190
3,833
*,032
Tranafers of capital stock and slAllar Intareat
sales
Playing carda
SilTer bullion sales or transfers
21,963
7,782
1,127
20,37*
7,867
li51i
7,836
3,518
322
7,*88
3,132
175
1,761
900
175
l,*6k
7k8
ko
Total staMp taxes
79,978
79,*66
32,e»r
30,98k
6.668
6,86*
conrejranca , etc
(Contintaad on follovlng page)
February 1949
^7
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax^
-
(Continued)
(In thouBGnds of doHare)
Firat 5 nDnthfl of fiscal year
FlBCal year
Type of tal
Mlecellaneous Internal roTenue (continued)
I9U7
WW
I9U8
19I19
:
Manufacturers* excise taxes:
Lubricating oils
Gasoline
Tires and tubes
Automobile trucks and buses
Other automobiles and motorcycles
Parte and accessories for automobiles
Electrical energy
Electric, gas, and oil appliances
Electric light bulbs and tubes
Padlo sets , phonographs , components , etc
Phonograph records
Musical Instruments
Mechanical refrigerators, alr-condltlonere, etc..
Matches
BuBlneee and store machlnee
Photographic apparatus
Sporting goods
Firearms, shells, and cartridges
Pistols and revolTers
Pepealed taxes
Total manufacturers • excise taxes
Eetallers* excise taxes:
Furs
Jevelry
Luggage
Toilet preparations
Total retailers* excise taxes
Mlecellaceous taxes:
Sugar Act of 1937
Telephone, telegraph, radio, and cable facilities
Local telephone serrlce
Transportation of oil by pipe line
Transportation of persons , etc
Transportation of property
Leasee of safe-deposit boxes
Admissions to theaters, concerts, etc
Admissions to cabarets, roof gardens, etc
Club dues and Initiation fees
Bowling alleys pool tables , etc
Coin operated devices
Adulterated and process or renovated butter, and
filled cheese
Oleomargarine, including special taxes
Narcotics, including marihuana and special t^es.
Coconut and other vegetable oils processed
National Firearms Act
All other, including repealed taxes not listed
above
,
Total miscellaneous taxes
Total miscellaneous internal revenue
Total internal revenue collections
Adjustment to Daily Treasury Statement
Total receipts frcaa internal revenue (Dally Treasury
Statement )
82,015
80,887
30,1*22
1.33,676
1711,927
1*78,638
159,281i
62,099
20U,68o
99,932
63,01U
65,608
23,180
63,856
8,li92
91,963
270,958
122,951
69,701
87,858
21*, 936
67,267
7,532
202,919
68,725
29,322
10,151
37,352
10,573
3,761*
3,1*81*
58,1*73
23,1*1*1
10,610
32,707
U,W.5
32,899
3,133
8,1)13
25,183
36,163
99,1*87
33,128
217,815
71,030
67,197
102,609
25,881*
55,1*01
29,81*2
31*, 187
9,579
26,130
2,910
21,078
2,333
51,382
12,11*7
16,81*8
39,001
9,61*2
12,691*
5,1*63
19,357
9,375
5,612
381*
333
1,61*9,326
651*, 1*86
735,962
22,026
18,106
75,305
31,167
95,51*2
79,539
217,899
80,632
91,852
33,375
3l*,938
511i,227
1*69,923
161,351
159,516
59,152
71,21*7
252,7l«6
275,255
193,521
18,773
35,360
102,905
71*, 751
7,293
36,691
125,517
88,808
21*6,323
113,751*
117,597
317,203
9,081
385,101
53,527
121*, 155
11*1.,
3,1*08
170,71*0
23,1.67
9,71*7
1*3,935
7,01*6
l8)i
18,828
11,277
858
92
l,'t25,395
97,1181
17,051*
9,031
38I.
236,615
8U,588
l6l»,9Wi
16,988
2Wt,003
275,701
8,560
392,873
63,350
23,299
76,1*1*7
29,501*
7,61*6
151
!(,lt58
1*,086
3,311*
3,679
172,155
21,825
10,716
3,327
20,1*32
19,271
15,699
16,61.6
30
20
9,806
889
12
1*,100
15
7,970
31*7
351*
25,701*
10,678
7,01*2
9
5
6
305
57
81
5,871*
792
17,208
25,1*99
720
1,551,11*0
1,655,620
699,793
8, 061*, 152
8,311,003
3,505,1*30
39,108,273
1.1, 861*,
536
lit, 609,
881
+271,136
-11,051
-667,1*52
39,379,1*09
1*1,853,1*85
13,91*2,1*28
?lfth Bonth of fiscal year
19l>8-
19119-
NoTOBtwr I9U7
HoTember
191^8
.
Treasury Bulletin
kS
MONETAKY STATISTICS.
Table 1.- Money In Circulation
(In mlUlona of dollars txc^pt km iK)t«d)
Pap«r moBmj
Total
End of f lacal
7«ar or Bonth
onej
in
oirculatlon i/
Total
papor
on0j
19*1
19*2
9,612
12,383
8,932
11,600
19l'3
19W'
17,'>21
22,50't
16,1*92
21,1.18
19't5
26,71^
25,5*1
19*6
19*7
191^
28,21i5
1948- January ...
robruai7..
28,111
28,019
27,781
28,297
27,903
March
Gold
cartlfIcataa
SllTsr
certlf-
2/
lcat«B
63
59
57
5U
38
1,711.
26,9'i5
26,9lt2
30
26,U82
".5
2,085
2, 061
2,061
317
320
321
23,973
23,999
23,600
597
587
k6k
1«6
353
26,728
1.6
1,91.7
26,631*
1.6
23,953
23,857
23,592
375
370
365
102
101
U6
1,951
1,973
303
307
26,387
100
100
99
1.8
July
27,866
26,I.U
26,683
e6,676
p.
aid of f iacal
yaar or aonth
20
18,750
22,867
1.5
Decanber
DOtea
Jl
1,588
1,651
26,1.03
26,l.a2
28,176
28,331
28,22U
national
bank
note*
19
27,812
27,903
.
Federal
Beaerre
Bank
581.
1.6
Ootobar
1/
States
DOt««
Federal
Reaerre
DOtea
9,310
26,317
HoTflBbap,
of 1890
UaltM
13,71.7
27,71fr
8«pt«Bb«r.
DOtttS
300
317
322
322
323
April
May
Juna
Augitat*..
Traaaury
26,725
26,867
26,759
".5
1"
".5
">5
U
1,751.
1,61.9
308
6,681.
2,009
2,060
8, 061
310
315
321
23,1.89
23,585
23,600
361
357
353
2,0*5
2,053
8,058
318
321
319
23,588
3t|9
23, See
3W
2,05k
2,076
2,059
318
320
312
23,878
23,991
23,917
338
31.5
150
139
132
126
120
Ilk
106
99
101
98
97
33'.
330
95
February 1949
ks
MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(In ml 1 1 Ions of dollars)
1941
W^S
WW
1945
19I16
W""?
19148
191+8- Januaiy
February
March
,,,,
April
May
June
....,.••.....
July
August
September
.,
October
,
HoveBiber
22,624.2
22,736.7
22,387.5
21,173.1
20,213.0
4,148.7
4,306.3
4,298.5
3,947.9
3,685.8
15.5
15.9
16.1
15.7
15.4
20,269.9
21,266.5
23,532.5
3,508.4
3,525.7
3,571.0
14.8
14.2
13.2
22,934.6
23,036.1
23,136.5
3,552.1
3,555.6
3,559.7
13.'*
23,168.7
23,303.9
23,532.5
3,563.6
3,568.3
3,571.0
13.3
13.3
13.2
23,678.9
23,725.1
23,872.3
3,576.3
3,577.8
13.1
13.1
3,584.li
X3 1
24,00ll.2
3,588.1 r
3,592.6
3,597.9
13.0
12.9
12.9
24,165.6
24,243.5
December p
Source:
p
r
($1.29+ per
fine ounce)
(»35 per
fins oimce)
19li2
Dally Treasury Statement and Circulation Statemsnt of U. S. Money.
Preliminary,
BevJsed.
Ratio of Oliver
to gold and
silver In
monetary stocks
Silver
Gold
End of fiscal
year or month
IB."*
13.3
For detail of silver ncnetax? stock, see Table U.
Table 3.- Gold Assets and Liabilities of the Treasury
(In
mm ions
of dollars)
Liabilities
End of calendar
year or month
Gold assets
Gold certificates 1/
Gold reserve
a^^lnst U. S.
notes, etc. 2/
Exchange
Stabllllatlon
Fund i/
Gold In
General Fund
1939
1940
1941
1942
1943
17,643.4
21,994.5
22,736.1
22,726.3
21,937.8
15,278.6
19,825.4
20,564.8
20,611.9
19,821.0
156.0
156^0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1,800.0
1,800.0
408.9
213.2
215.3
158.4
160.7
1944
1945
1946
1947
20, 618.8
18,497.4
17,914.1
18,430.5
21,544.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
165.4
194.8
142.4
1,053.9
20,064.9
20,529.0
22,753.9
1948 p
24,243.5
23,010.1
156.0
1,077.4
22,934.6
23,036.1
23,136.5
21,747.6
21,862.3
21,923.8
156.0
156.0
156.0
1,031.0
1,057.8
1,056.7
April
May
June
23,168.7
23,303.9
23,532.5
21,955.2
22,081.3
22,303.0
156.0
156.0
156.0
1,057.5
1,066.6
July
August
September
23,678.9
23,725.1
23,872.3
22,451.7
22,509.3
82,647.7
156.0
156.0
156.0
1,071.1
1,059.8
1,068.6
24.004.2
24,165.6
24,243.5
22,770.3
22,932.8
23,010.1
156.0
156.0
156.0
1,077.9
1,076.8
1,077.4
1948- January .
. .
February .
March
.
.
October. .
Sovember
December p.
.
.
Source:
1/
.
Dally Treasury Statement and Circulation Statement of D. S. Money.
Comprises (1) gold certificates held by the public and in Federal
Reserve Banks; and (2) gold certificate credits In (a) the gold
certificate fund - Board of Governors, Federal Reserve System, and
2/
2j
p
1,073-''
(b) the redemption fund - Federal Reserve notes.
Reserve against United States notes and Treasury notes of 189O.
Excludes gold in active portion of Exchange Stabilization Fund,
Preliminary.
5
.
.
.
.
2
Treasury Bulletin
50
MONETARY STATISTICS
Table 4.- Conponents of Silver Monetary Stock
(In BlUlaoa of dollars)
SllTer bold IB Troaaurjr
Soourli^ allrer
cortlflcatee 1/
jear or aonUi
SllTor
SUTor
Sul>aldlai7
buUlon 2/
dollaiv
coin 3/
1939
19*0
19*1
19*8
19*3
1,298.8
1,398.1
I9W1
19*5
19*6
19*7
SllTor
outalda
Troasur7
In G«n«ml Tund
Bollloo for
roeolnago kj
Bulllcn
SllTor
dollar* 1/
at eoart 2/
Siikaldlai7
coin
^
Total
allTar
at $1.39>
par f Ina
ounce
616.0
657.*
662.3
628.2
551.8
*8.1
58.5
63.0
78.8
96.8
39*.l
*22.*
*93.5
587.3
6a*.7
3,790.2
*,06o.0
*,2**.8
*, 317.6
*,207.3
*05.6
185.6
93.1
91.1
U7.5
771.6
8*6.7
901.1
928.7
3,870.6
3,512.8
1,516.2
1,520.0
*8*.l
*68.3
*00.*
5.3
2.3
3.5
9.2
1*.*
1,520.1
1,703.9
1,911.2
1,937.6
376.5
356.*
3*3.*
337.2
12.5
10.2
1*.0
13.1
19W3 p
1,971.5
328.2
5.3
.1
89.0
16* .9
972.2
3,597.9
19*8-JanuarT...
FebruaiT
March
1,9*0.6
1,9*3.7
1,9*6.2
336.8
336.7
336.5
13.3
l*.l
1*.5
.1
.1
.2
91.7
91.7
92.6
156.7
156.6
156.9
929.1
929.3
929.7
3,532.1
3,555.6
3,559.7
April
May
Jima
1,9*9.1
1,951.7
1,955.1
336.1
335.6
1*.8
12.8
10.0
.5
.3
.3
91.9
92.8
91.2
157.2
157.6
158.6
932.8
936.1
9*2.3
3,563.6
3,568.3
3,571.0
333.0
331.6
330.6
9.2
.1
98.9
U.*
.1
Sapte^er.
1,956.*
1,960.0
1,962.6
9.3
91.3
91.6
160.1
161.5
i6e.9
9*6.7
9*9.2
95*.6
3,576.3
3,577.8
3,58*.*
Octobar..
oTflabor.
Deceaber p
1,965.7
1,968.9
1,971.5
330.0
329.*
328.2
8.3
5.0
5.3
90.*
89.7
89.0
163.1
163.7
960.2
967.8
972.2
3,588.1 r
3,592.6
3,597.9
1,1.76.1
.
July
Anguat.
Souroa;
1/
...
33*.
19.1
.1
Ballj Traaaui7 Statonant and Circulation Statoaant of 0. S. Monay.
T&lued at $1.29* par fine ounca.
Includae allvar laaaad to Office of Defense Plants of the BJ.C,
etc. (see Dally Treasurr Statoment for aBount). Doae not include
SllTer lend-leased to foreign goremBhents (see 19*6 Annual Report
of the Secretary of the Treasury for aaounts).
Valued at $1.38* per fine ounce.
2/
^
*/
p
•
r
137.5
150.1
156.3
16k .9
3,51*.
3,5*7.9
V^uad
at $1.38+ per fine ounce or at $1.29+ par fine ounca
according to vhether the bullion la held for racoinage of
subsidiary sllTer coins or for racolnage of standard sllTer
doll&re.
Preliminary.
Less than $50,000.
Povleed.
Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Offices^
(In millions of ounces or dollars)
surer acquired by mints and assay
surer
Calendar year
or month
1939
19*0
19*1
19*2
19*3
production in
United States
Hevly mined dcneetic
off Icaa
Foreign silrer 2/
surer 2/
DoUars
Dollars
Ounces
63.9
68.3
71.1
55.9
*0.8
60.7
68.3
70.5
*7.9
5.5
35.7
29.3
21.*
•
•
•
•
.9
.6
.9
.6
*.*
*.9
30.3
,
19**
19*5
19*6
19*7
36.1
19*8- January..
February
*.9
30.3 */
2ee.e
139.8
72.6
*0.1
*8.5
50.1
3*.0
3.9
1*.3
27.*:
2.9
2.5
2.9
120.5
50.9
27.1
6.0
Ouzkces
3.9
3.2
2.7
3.8
3.3
3.1
2.8
1.7
2.6
3.0
1.5
2.8
May
June
July
August
Sapteaber
2.7
2.3
3.5
*.l
2.7
3.5
3-7
2.5
3.2
October.
Horeaber
3-0
3.*
2.8
2.6
3.0
*.l
2.7
3.5
8.8
3.3
AprU
ij
2/
3.2
3.3
3.3
3.2
2.7
3.2
3.3
1.7
Anmal flgnraa fYoB tba Bureau of the Mint. Noothly figures on
D. S. aUrer production froa releasee of the American Bureau of
Metal Statistics; thaee vill not agree vitb the nwn*! figures.
For Infotvaticn on silrer production in other countriae, see
wnrnial reports of tbs Director of the Mint.
Data frca 1933
through 19*1 are axasnrlted in the "Treasury BuUatin* for
Auguet 19*3, page 7*.
Acquired at 6*. 6* cents par fine ounce until April 9, 1935; at
71.11 cants per fine oum:e
that data untU April 23, 1935;
at T7.57 cente per fine ounce from AprU 23, 1935, to Decaabar 3I,
fm
^
*/
•
160.6
99.*
77.2
*0.0
3.9
3*3.3
208.0
1*3.1
6e.l
5.5
8.1
3.*
March
oa:
Dollars
Ounces
i
*.*
27.*
I
2.9
2.5
2.9
2.6
3.0
1.5
3.7
2.5
3.2
8.6
3.0
1937: at 6*.6k oanta per flna onu» from Decariiar 31, 1937, to
July 1, 1939; at 71.11 cents per fine ounce fna July 1, 1939, to
July 2, 19*6; and at 90.5 cents per fine ounce since July 2, 19*6.
Acquired at rarious prioaa arsraging approximately 51 canta per
fine ounce.
canta per fin* ounce
Includee 0.2 millloD ounces raluad at 71.
totallli« $0.2 mlUion, and 30.I mUlion ounces rained at 90.5
cents per f liM ounce totalling $27.2 Billian.
Laas tl»n 50,000 ounces or $50,000.
U
February 1949
51
MONETARY STATISTICS.
Table 6.- Seigniorage on Silver
(Cumulative from January 1, 1935
-
In mlllloiBof dollars)
Sources of seigniorage on silver "bullion revalued 1/
End of calendar
year or month
Seigniorage
on coins
(silver and
minor)
1935
1936
1937
1938
1939
18.5
US.
1(6.1
1*8.7
liB.7
li8.7
63.7
69.5
91.7
19^*0
122.2
182.1
,
I9UI
,
191*2
2''5.7
,
Misc. silver
(Incl. silver
bullion held
June Xk, I93I+)
1*8.7
1*8.7
li29.
1*8.7
19^
Ii91.
1*8.7
19^7
520.
1*8.7
559.
U8.7
521. l*
,
I9W- Januaiy
1*8.7
February,,
March. . . .
527.6
1*8.7
1*8.7
529.'*
1*8.7
April
May
June
532.0
533.5
536.3
1*8.7
July
August ...
September
538.6
1*8.7
1*8.7
5W.2
1*8.7
October..
November.
December.
550.
1*8.7
551* .0
U8.7
559.2
1*8.7
Source:
1/
, ,
,
1*8.7
1*8.7
Silver Purchase Act
of June 19,
1934
Nationalized
silver
(Proc. of
Aug. 9, 193^)
Total
seigniorage
on silver
revalued
Potential
seigniorage on
eilver bullion
at cost in
General Fimd 2/
226.2
31*.
326.2
271*. 9
30s.
31*.
1*22.1
397.5
366.7
31*.
508.1
616.0
705.6
T58.8
950.6
51*1.6
1*57.7
3't.7
.2
530.7
31*.
87.6
87.6
87.6
87.6
87.6
25.7
U8.3
63.6
65.3
562.7
31*.
759.1*
580.1*
31*.
581*.
3^.7
581*.
3l*.7
65. 1*
581..3
31*.
799.7
818.9
820.6
820.7
87.6
87.6
87.6
87.6
65.
66.
701.6
832.1
832.1
832.2
31*.
3''.7
3l'.7
3l*.7
938.1
1,069.6
1,077.6
1,087.8
333.2
161.2
87.6
87.6
87.6
75.'*
31*.
1,078.5
ll.lt.9
76.3
77.1
832.1
832.1
832.1
3l».7
1,079.1'
11.1..2
3^.7
1,080.2
11*5.9
87.6
87.6
87.6
77.9
78.7
79.7
832.1
832.1
832.2
31*.
1,081.0
1,081.8
1,082.9
11.2.6
87.6
87.6
87.6
80.1
81.2
81.9
832.2
832.2
832.2
3'*.
87.6
87.6
87.6
82.9
83.8
832.2
832.2
832.2
71*
.9
87.3
19^*5
191*8
16.8
36.0
58.0
1*8.7
1*8.7
,
Dec. 21, 1933)
1*8.7
299.6
362.3
19^3
19kh
Mevly mined
silver (Proc.
Newlj mined
silver (Act
July 6, 1939
and
July 31, 19'+6)
Office of the Treasurer of the United States.
These Items represent the difference between the cost value and
the aonetary value of silver bullion revalued and held to secure
I*
71*.
81.
81.
.6
2/
3'*.
31*.
1,055.8
1,089.0
1,01*8.2
96T.3
717.3
11*6.8
129.9
11*3.1
11*0.3
11.2.8
3''.
l',0*'.l
137.6
3'*.7
1,085.1
I3I1.6
3'>.7
1,086.1
1,087.0
1,087.8
131.7
129.9
3l>.7
3''.7
131* .2
silver certif icatee.
The figures in this column are not cumulative; as the amount of
tulllon held changes, the potential seigniorage thereon changes.
Table 7.- Increment Resulting from the Reduction In the Weight of the Gold Dollar,
December 31, ld48
Exchange Stabilization Fund
Pajments to Federal Reserve Banks for industrial loans
Allocations of
increment
Charges against
increment
$2,000,000,000.00
$2,000,000,000.00
139,299,556.99
27, 5''6, 310.97
Philippine currency reserve
23,862,750.78
Melting losses on gold coin
2,175,121.93
1,853,687.05
6U5,387,965.1t5
61*5,387,965.''5
Betlrement of national banlc notes
Unassigned
Total increment
Source:
Office of the Treasurer of the United States.
$111,753,21.6.02
23,862,750.78
321, 1*31*. 88
8,356,109.51
8,356,109.51
2, 819, 081, 501*. 66
Unexpended balance of
increment
2,6711,787,963.1.7
ll*U,293,5''1.19
)
.
Treasury Bulletin
52
EXCHANGE STABILIZATION FUND.
Table 1.- Balance Sheet as of June 30, 1948, and September 30, 1948
Jibs 30,
Sept«^twr 30,
19>id
19^
Cuh:
Tr»a0ur«r of the Unltod Stataa, checklzie account...
Tedaral Peaanre Bank of Hew Tork, special account..
Dlaburelng officers* balancea axkl adTance accOTmte.
Total
eaata.
Special accouDt« of Secretary of the TrvaatirT In
Federal Peaerre Bank of Hew Tork:
Special account Ho. 1, gold
Due trcm forel^ banka (foreign excbal^e):
Svlaa francs
Mexican peaoa
Indian rupees
Pakiaton rupees
38,600,122.87
208,1(33,875.21
187,861,065.81
379,187.21
37,000,000.00
15, 393, '.52 .12
k, 0211,669.26
GoTemaent securities.
Acco\mts receirable
(
$18,1169, 857.k5
19,688,618.811
Accrued interest recelrable
Other accounts
31,61.5,073.83
35,250.1.5
377,992.11
37,000,000.00
Total due frca f orei^ banka
Xnrestaients in United States
6,919,798.59
16,881,551.63
11,556,338.78
31,967.0k
deferred charges
57,066,610.95
56,797,308.59
20,000,000.00
20,000,000.00
82,936.11
83,kfc6.5k
2.77
2.77
15.00
Coaaodity sales contracts (deferred charges)
2,636.00
Total assets.
303,3'.l,9k6.58
3011,055, 933. ''9
Liabilities and capital:
Accounts parable:
Vouchers pajrable
Bipl07ees' pay-roll allo^ient account, Onited States
saTlngs bonds
Withholding taxes
Due on purchases
Miscellaneous
6,716.75
10,879.8k
1,527.13
1,261. k5
33,508.58
l,kWi,779.10
132,191.96
2,866,l»95.11
Total accounts pajable
(See Table 2.)
2,000,000,000.00
1,800,000,000.00
_
Total liabilities and capital.
Hote:
12,887,956.08
12,865,503.96
Capital account
Deduct - Subscription to International Monetary Fund
Het inocas
1,622,620.93
2, 87'>, 738.99
Peserre for expenses and contingencies (net).
Annual balance aheeta for fiscal years 193k through 19kO appear In the
"Annual Peport of the Secretary of the ftwasury" for 19kO and those for
eucceeding years appear in subsequent reports.
200,000,000.00
2,000,000,000.00
1,800,000,000.00
200,000,000.00
88,315,690. 5'»
88,831,369.57
30U, 055,933. kg
303,3kl,9k6.58
Quarterly balance aheeta beginning vlth that for Dacsaber 31, 1938,
hare been published in the "Treaauz? Bulletin"
February 1949
53
EXCHANGE STABILIZATION FUND,
Table 2.- Income and Expense
Clasaiflcetlon 1/
Profits on British sterling transactions
Profits on French franc transactions
JaDuax7 31 » 193** t through
June 30, WltS
310,638.09
January 31, WS"*, through
Sept«ab«r 30, I9U8
310,638.09
351,527.60
351,527.60
Profits on gold bullion (Including profits frcon handling charges on gold).
37,810,1170.37
38,501., 737.85
Profits on other gold and exchange transactions
1*0,000,000 .00
It0,000,000.00
Profits on silver transactions
105,371.27
102,735.27
Profits on sale of silver bullion to Treasux? (nationalised)
3,1173,362.29
3,1173,362.29
Profits on iuvestaente
1,876,790.55
1,876,790.55
Interest on Imrestanents
6,198,066.89
6,323,577.32
800,U66.15
800,k66.15
Interest earned on foreign balances
1,732,970.87
1,872,861.28
Interest earned on Chinese yuan
1,975,317.07
1,975,317.07
9lt,63U,98l.l5
95,592,013.1*7
MlBcellaneoufi profits
Total
Incootte.
Rrpense:
Personal services
'»,076,730.83
li,to2, 575.27
Travel
235,830.27
259,12l>.57
Transportation of things.
581t,98l.lA
596,855.15
Ccanaunlcatlons ....•••••
•77,636 .97
1189,835.51*
58,038.99
62,723.1*1
886,072.11
91*9,529.96
6,319,290.61
6,760,61*3.90
88,315,690.5lt
88,831,369.57
Supplies and materials .
.
Other
Total expense.
1/
Effective July 1, 191*8, claaelflcatlons of expense were changed to conform
with those contained In Budget-Treasury Regulation Number 1. Figures for
earlier periods have been reclassified accordingly.
.
Treasury Bulletin
5'+
CAPITAL MOVEMENTS
Information relating to capital movenients between
The data In these four sections are based on reports
the United Slates and foreign countries 1b presented In
filed each month by banks, bankers, and brokers throughout the United States.
The reports are collected,
Section
four sections.
I
contains the principal types
of data on capital oorements by years beginning with
checked,
and tabulated by the twelve Federal Reserve
The totals are then forwarded to the Treasury
Department for oonsolldatlon and publication.
Banks.
Each type of data Is
1935i *nd currently by months.
then broken dcwn Into Its chief components In the same
chronological detail.
Publication of detailed figures on capital movements was discontinued between the March 19U2 and the
November 191+5 Issues of the "Treasury Bulletin'", but
Section II supplies a geographic breakdown by principal countries for recent months.
The total net capital
movement Is given first and then the principal categories
In addition,
are shown separately.
at this point,
data omitted during that period were supplied In the
November 19'+5 Issue and supplement.
the
total outstanding claims on and liabilities to foreign
Beginning with the December igUg issue, publication
countries are each presented.
of
Section III presents details with respect to capital
data
the
on
capital
movements
was
months by the use of preliminary reports.
advanced
two
A comparison
movements and short-tem oledns and liabilities as of the
of preliminary and final data for past months Indicates
latest month for which the data are available.
a difference of a maximum of one percent In the grand
totals.
Section IV contains data for recent months on out-
Somewhat more significant changes In particular
categories for Individual countries may be necessary
when
standing contracts of banks for forward purchases and
the final reports are published, normally two months after
sales of foreign exchange.
the preliminary data.
Section
-
I
Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In UiouaanAs of dollars; nogatlre figurea Indicate a net outflow of
coital frca the Qnitod Statea)
Ana2jBie of net capital movemtat in:
Calendar year
or aoDth
(Jan. S, 1935-Jan. 1,
(Jan. 2, 1936-Dec. 30,
(Dec. 31, 1936-D8C. 29,
(Dec. 30, 1937-Dec. 28,
(Dec. 29, 1938-Jan. 3,
19110 (Jan.
U, 19liO-Dec. 3I,
1935
1936
1937
1938
1939
19*1
19*2
19*3
19**
1936).
1936).
1937).
1938).
I9I1O).
I9I1O).
Vet capital
mormmat
l,WiO,686
1,226,722
833,715
12, 956
1,198,735
695,080
It
Brokers^
lialaztces
Il28,lll2
6,039
6,811
316,660
600,693
3'',687
2lll.,626
328,968
3''
57,196
1,135, ''83
32,990
20,358
-85,1127
-2ll5,062
-261,955
8kl,628
-1>53,823
-2li3,522
-1.9
626,121
1,286,893
583,373
1,168,058
'•6l,35'>
ll>8,59''
1,07"',375
-793,32''
1,216,303
-733,909
383,539
-97,31''
203,530
-16,U83
-I've, 926
-150,509
61,897
-1,8119
-5,37''
-''0,599
8,133
June
-209,636
-92,012
75,953
-180,399
-33,58e
89,666
Julj
August
97,575
-113,778
19*6
19*7
313,678
(Jan. I-BOT. 30) p
19k8-Janaai7
Februaiy
Itereh
Aprtl
•taj
111,850
-56,I«)U
Transact ions
in dcaestlc
securltlee
287,39''
992,829
3,513
13,372
8,529
17,79k
9,661
-11,318
Wk?
WW
Short-term
bankiag funds
Tranaactlona
in forsi^
securitiee
125,158
191,076
267,008
26,758
115,689
78,156
51,703
''6,599
-7,361.
27,767
210,735
-113,105
77,696
93,1.96
-116,617
-97,555
265,127
39,012
-183,239
-101,122
-33'', 203
-7,369
10,801
-19,33''
-27,9''9
'.,661
2,751
722
-k,599
-39,935
-58,822
-9,631.
7,9*7
-330
520
115,215
-8,673
6l',377
-3,9''3
-lk,229
-23,517
-8,292
5,262
-150,695
6,319
^,011
Septesiber
53,921'
61,030
-5,133
October p
November p
79,896
69,122
-2,9''3
10,581.
3,133
17'',2Ult
lli7,312
lt,U25
15,258
7,2''9
p
Preli«ina27
February 1949
55
CAPITAL MOVEMENTS
Section
-
I
Historical Summary
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(FoBltion at ond of period in thousands of dollare)
Short-tarn liabilities
Short- t«is claiju
Payable
End of oalendar
jear or wmth
(Dec.
(Deo.
(Deo.
(Deo.
(Jan.
I9I1O (Deo.
In
foreign
currencies
Deposits
of
foreigners
Loans to
foreign
banks
1,1*56,885
1*6,795
66,1*78
268,719
221,383
1,600,507
1,985,025
3,025,189
3,786,l8e
209,597
111*, 791
135,311
121,001
82,983
103,369
6o,8s8
31,01*9
3,55l*,25l*
118,633
202,085
3,678,518
30,915
72,01*8
11*3,709
137,161*
'•,205,389
5,37l*,903
3,310,732
3,958,716
169,670
5,596,775
6,883,068
'•,356,501
98,119
86,378
105, U21
100,267
319,639
306,618
668,168
1,222,580
1,218,633
1,910,898
19,677
13,893
311,387
511,603
3,352,223
3,523,328
'•,13U,W2
kO,629
5,772,009
3011,851
lt,693,911
1*, 809, 21*5
l,7l>5,722
165,1*39
6,1*80,262
7,116,1*19
2,257,510
l*9,661t
6,155,1*98
153,6*8
1U9,869
163,938
386,121
1*89,238
6, 001*, 989
511,871*
2,280,867
2,205,873
2,135,967
52,351*
1*91,131*
1*07,988
7,033,996
7,113,677
7,110,087
1*,
lt05,788
52,915
55,793
6,066,886
6,026,287
169,805
•27,659
516,015
551,018
612,539
6,959,367
6,975,087
7,013,727r
'•,725,818
u, 730, 003
2,l68,3U3
2,175,701
2,192,556
65,206
69,383
75,935
5,8li5,888
'•35,816
7,096,060
7,175,075
7,220,202
li,
7,298,55'*
7,l»03,803
66,7115
k7,'t77
367,786
117,068
19li2
2116,673
19'»3
257,929
19W>
329,69't
WM
31,
19l>5
392,766
708,253
960,921
Wlifi
igkT
19l»d-Januar7
1,029,007
Ii7,ll89
385,636
310,1*77
21*5,010
290,1*95
1*90,631
February .......
March
l,0li6,791
April
May
June
1,113, "•79
1,162,781
l,iai,755r
175,9lt7
90,lt31r
July
August
Septenber ......
1,078,873
1,093,511
1,077,603
87,100
89.517
83,281
I1OO.6I1I
53 7
591,132
571,696
569,790
October p
November p
1,075,192
1,033,129
87,069
95,980
1*06,967
581,156
362,808
571*, 31*1
1,083,800
522,563
950,703
1,238,097
1,156, '•96
508,702
383,978
19ltO)
97,851
Ret
short- tern
liabilities
1,623,317
1,893,087
2,203,185
3,221,328
3,938,232
1*88,365
1*3U,977
128,951
no, 911
152, U37
150, oWi
778,579
672, 61U
1935)
1936)
1937)
1938)
3, I9U0)
31,
30,
29,
28,
Psyable
In
foreign
currencies
1,301,11*2
161,263
96,726
116,917
165,521
173,238
115,118
65l>,990
626,0lt2
1935
1936
1937
1938
1939
Payable In dollars
Payable in dollars
ko8,785
1*32,298
Its'*,
U, 91*6, 621*
700, 775
U, 851*, 889
'•,918,327
'*,7'*5,236r
99,95'>
17,9n
1,577,11*3
2,712,626
5,116,971*
21,6Ul
5,267,081
25,51*6
6,1*90,302
5,812,306
5,901,972r
810, 281
2, 201*, 192
U,8I*8,1.58
2,2l^6,06l
881), 583
2,261,900
81,587
80,556
73,719
6.017,187
6,o8l,56U
1»,
1*,
873,207
2, 351*, 81*1
2,'<ll*,395
70,506
75,555
6,223,362
'*,913,853
6,11*2,5911
6,370,6711
Preliminary.
p
Table 3.- Net Movement of Short-Term Banking Funds
(In thouaaMs of dollars; negatlTO figures Indicate a net outflow of capital froB the United States)
Short- tens liabilities
Short- tana clalns
Calendar year
or BBonth
(Jan. 2, 1935-Jan.
1,
(Jan. 2, 1936-Dec. 30,
(Deo. 31, 1936-Dec. 29,
(Deo. 30, 1937-Dec. 28,
(Dec. 29, 1938-Jan.
3,
191*0 (Jan.
1*, Wl^O-Doc. 31,
1935
1936
1937
1938
1939
Total
1936)
1936)
1937)
1938)
I9W1)
19'^0)
Loans to
foreign
curreiicleB
banlEB
361,360
228,132
U9
-ll*,788
17,621*
28,91*8
117,31*0
-U,526
70,
121*, 721*
Payable in dollare
Payable in dollars
Payable
In
foreign
-3,552
31,868
-20,191
Deposits
of
foreigners
136,780
53,039
1*9,31*1
2,393
83,299
19,268
-1*8,601*
75,159
-7,717
58,120
1*1,758
1*7,336
U09
15,933
-3,515
20,671
-11*, 330
19,298
60,899
Payable
in
foreign
currencies
Net morenent of
short- term
banking
funds
992,829
631,1*69
587,331*
358,023
269,770
300,020
1,018, 1U3
716,90k
333, '•07
6,333
19,683
37,802
l*,933
1*28,11*2
11*3,622
11*3,119
-91*, 806
-16,971
20,386
287,39lt
371*, UW
1,01*0,161*
20,520
-Ik, 310
-1.2,51*1
1,135,1*83
760,993
-29,779
328,968
•
8U1,628
19*3
19**
W"*?
16,192
97,503
-11,256
-71,765
-63,072
19K
-315,1*87
-"•5, 1*85
-1*18,1*22
l'*,788
-200,136
636,207
-268,851*
115,381*
-l6lt,651
-252,668
-50,630
-67,320
-219,372
19'^7
511,788
-11,372
-5,102
U,0l8
3,730
3,905
15,083
9,035
-76,239
69,1*59
-58,536
-87,162
279,769
95,111*8
158,1*30
25,891
203,530
-81,270
-19,667
-2,200
1,393
-1,896
-20,7*0
-82,1*23
-108,1*70
15*,lll>
63,1*38
23,357
-69,906
2,690
561
2,878
-150,509
61,897
-'0,599
-19,671
-8,157
27,031
-35,003
-61,521
32,376
7,358
16,855
9,1*13
'•,177
6,552
-180,399
-33,582
89,666r
15,839
5,652
-1,031
-6,837
115,215
61*, 377
61,030
I9IH
19*8
I9I13
(Jan. 1-Nov. 30) P
-20,216
7,UU
-19,01*3
5,15'*
-1*33,959
105,607
185,617
385,365
620,881*
554, 1*12
220,359
1,279,375
-3,91*7
-75,3'«3
220,576
583,205
6,5'*5
-32,506
692,265
-21^3,522
583,373
1,168,058
lU8,59lt
1,216,303
-733,909
383,539
February
March
-17,781*
11,791
3,779
-37,009
-11*, 069
April
May
June
-29,679
-U9,302
51,026r
July
August
September
32,882
3,331
8,ll*U
21,1*07
11,636
-2,1*17
19,1*36
15,903
1,906
1*5,127
38,177
36,125
1*1.869
6,236
-31,657
7,761
82,333
79,015
65,01*5
-ll^,633
-1,615
-3,788
-8,911
16,991
-ll>,8l8
70,737
-20,536
91*, 1*86
-3,213
69,122
ltli,159
6,815
105,2'*9
l*0,6li6
59,551*
5,01*9
11*7,312
19l*8-January
October p
November p
p
-68,086
-3, '•71
-259,71'^
1*85,870
1,179,31'*
Preliminary.
1*2,063
-5,867
-6,11*2
85,5l6r
-l*,ll*l
79,681
-3,590
-150,720
15,720
38,6tor
-192,509
1*,185
15,233r
-7*,99'*
.
Treasury Bulletin
56
CAPITAL MOVEMENTS
Section
-
I
Historical Summary
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In Uioueaods of dollars)
DcBB«tlc bonds
DoBBfltlc atockB
Total
pore basso
or Booth
n.a.
D.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
D.a.
2,273,381
1,200,119
1,0311,1.78
1,U9,905
506,022
751, oPk
21k, 002
T0,7^i*
320,991
260,601
392,938
281.,206
••73,052
-I88,8li6
221,816
278,032
D.a.
D.a.
D.a.
D.a.
-56,216
igM
lli6,039
368,558
17'',952
2111,388
-39,'>36
19ka
19*3
19kk
19*5
75,'.88
1911,616
I6k,2l8
138, Slk
25,70k
2^11,299
170,555
171,^32
357,655
•132,109
376,6711
-''2,977
-3'>,579
-97,li32
-6li,k6o
19*7
96,383
151,639
136,853
260,223
367,6k9
226,089
-222,519
20,895
19U8 (Jan. l-BoT. 30) p
335,U1.3
2li,915
I9W
19k8-JaniiarT
n..a.
n.a.
n.a.
n.a.
aalss
986,02k
2,083,698
2,028,755
1,1*2,923
(Jan. ?, 1935-Jan. 1, 193*)
(Jan. 2, 1936-Dsc. 30, 1936)
(Use. 31, 1936-Dsc. S9, 1937)
(Doc. 30, 1937-Doc. 28, 1938)
(Doc. 29, 1938-Jan.
3, 19kO)
k, 19liO-D»c
19'>0 (Jan.
31, 19W)
1935
1936
1937
1938
1939
Total
1,302,681.
2, 68k, 391
st
dcBMtlC
Stocks and
bands
316,660
600,693
2kk,626
57,196
-85, ^^7
-2k5,o62
513,558
377,717
268,2U
2li5,31'i
650,1.11
393,390
l>lk,k70
681.,213
637,9*0
782,119
1,U6,322
-150,585
336,305
283,275
-15,673
-269.7*3
53,030
562,3911
659,9*9
-261,955
k6,599
27,767
210,735
-113,105
-33*,203
-97,555
1.83,699
-11.8,21.6
262,057
297,050
-3^',993
597,500
780,739
-183,239
-7,"A7
26,912
21,131
78
-8,925
-1,*92
51,905
311,177
59,27*
53,511
72,936
-7,369
-19,33k
-27,9k9
96,*22
117,005
85,2k9
-39,935
-58,822
-9,63k
6k,k55
61,382
-Ik, 229
Fobrua27
March
21,971
19,875
32,362
32,380
*6,332
-10,1109
-26,1157
26,990
12,206
25,112
April
Haj
37,"i28
6li,66ii
-27,236
19,059
56,1.87
-•il.,25li
17,6liO
-l'.,568
Jgns
39,7k8
8U,797
59,602
31,758
32,208
-12,699
Ii0,5li3
-19,85fc
35,867
25,61i7
10,220
58,183
75,615
JlOj
August
Sept^iber
29,997
26,830
26,276
•A, 770
-l'i,773
35,1«)
30,820
-8,570
20,889
11,035
31,996
19,685
25,982
-1'>,9'.7
35,71.*
-3,71.8
Octobor p
29,381
25,388
37, ".TS
38,1.79
27, n"!
3,993
11,305
IA,06U
IfoTemb«r p
17,859
13,906
6,591
3,953
-'>,5W.
26,601.
5U
582,9*6
365,171
*39,676
751,Ok5
•A, 987
50,226
37,865
58,272
73, '.'•5
56,338
66,561.
-23,517
-8,292
62,861
kl,080
10,58*
15,258
Rot BTailablo.
ProllmiDoir-
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In tJiousands of doUBis)
Calondar 7oar
or Bontb
1935
1936
1937
1938
1939
19*0
(Jsn. 2, 1935-J8n. 1,
(Jan. 2, 1936-Doc. 30,
(Dec. 31, 1936-Dec. 29,
(Dec. 30, 1937-Doc. 28,
(Doc. 29, 1938-Jan.
3,
k, 19i>0-Dec. 31,
(Jan.
Forolgn boDds
Foreign stocks
Purchaass
SalsB
1936)
1936)
1937)
1938)
19*0)
19*0)
n.a.
n.a.
n.a.
Ret
Total
purchasss
Total
sales
Mot foreign
stocks and
bonds
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
D.a.
n.B.
n.a.
n.a.
n.a.
D.a.
n.a.
D.a.
D.a.
D.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
661,856
896,1*9
1,016,188
*a2,8o9
561,236
205,289
536,098
705,073
*56,051
**5,5*7
127,133
125,158
191,076
267,008
26,758
115,689
78,156
n.a.
n.a.
3,*«7
*,5e3
-17,*6l
-363
1*,560
n.a.
n.a.
**6,367
31*,262
7*,209
88,973
-29,156
265,*90
2*,*58
185,261
280,533
*69,6*5
3*0,863
355,**1
755,936
658,7*1
n.a.
D.a.
372,158
225,289
3*7,269
*90,**6
63*,2e9
715,859
133,558
227,897
391,9*9
2*7,367
k02,058
556,056
676, 8k7
51,703
-7,36*
77,696
93,*96
-k6,6l7
265,127
39,012
7*9,lflO
19*1
19*2
19*3
19**
19*5
19*6
19*7
n.a.
n.a.
23,278
26,601
37,328
65,2*7
57,U8
n.a.
n.a.
19,791
22,078
5*,789
65,610
*2,558
19*8 (Jan. l-BoT. 30) p
73,393
90,631
-17,238
193,185
277,069
-83,88k
266,578
367,700
-101,122
6,126
5,089
7,**9
6,763
*,206
8,1*2
-637
26,00k
15,235
17,816
1*,566
883
-693
11,*38
3,778
*,T0*
32,130
20,32*
25,865
21,329
15,663
21,25*
10,801
*,66l
13,112
Jaw
7,**6
7,381
8,078
9,507
13,991
11,583
-2,06l
-6,610
-3,**5
20,962
18,568
2*,099
10,95*
12,288
20,13*
10,008
6,280
3,965
28,koe
25,9*9
32,177
ao,*6i
26,279
31,657
7,9k7
-330
520
Julj
August
Ssptsabor
5,257
5,312
7,835
8,003
7,172
7,*88
-2,7*6
-1,860
3*7
18,386
7,785
1*,368
10,378
156,620
8,396
8,008
-1*8,835
5,978
23,6*3
13,097
88,803
18,381
163,792
15,88k
5,262
-150,695
6,319
Octobor p
RoTombar p
6,093
7,327
7,763
6,073
-1,670
1,25k
13,995
15,967
9,192
9,972
*,803
5,995
80,088
23,29*
16,955
16,0*5
3,133
19*8-JaniiAr7
FobroaTT
tfarcb
April
•*W
n.a.
P
ot
srallablo.
PrellMlDar7.
318, U3
U,*57
8ei,i%
k,OU
7..2k9
February 1949
57
CAPITAL MOVEMENTS.
Section II
-
Summary by Countries
Table 1.- Net Movement of Capital and of Short-Term Banking Funds
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Short-term hanking funds
Net capital movement
July
August
September
Inrope:
United Kingdom
France
Belgium
-68,59U
-7,925
-2,603
-2,781i
-8,079
-2k,s68
-9,518
5,338
Denmark
6,239
-2,197
-10,898
-681*
-1,085
Wnland
11,982
-593
-2, '•73
11,110
25,1138
-6,762
31,367
-611
-2,123
37,008
-17,99''
-l,l't3
-9,251
8,77"'
-6,2llO
-li,l32
10,375
2,1U6
-7,681
215
Uoi
7,959
-65*
-2,023
225
-2,526
6,lU8
5,092
l,6Ul
-5,365
-10,213
-10,985
-23,207
-ll',159
-81.1
6,758
1,7118
111,987
-59,737
-15,05^
3,606
27,073
-121,9119
33,016
-1,098
895
-3,3't5
1,53''
3,9''8
18,939
-25
3,877
10,795
2,756
-626
-2,728
-li,101
1,0119
-106
-6,717
-1,302
Cuba
French West Indies and Oulana.
9,562
21,230
2,808
2l»3
-lltS
Mexi CO
8,327
16,753
-216
319
Germany 1/
Oreece
Italy
Loxembourg
Netherlands
NorvsQr
Portugal
Bumanl a
Spain
Sweden
Swl t zerland
u. s. s. a
Yugoslavia
Other Surope
Total Surope
Canada
Latin America:
Argentl na
Bolivia
Brazil
Chile
Colombia
Costa Hlca
Netherlands West Indies and
Surl nam
Panama
Peru
-1,803
S8,li71
-586
6,286
-57lt
-276
-li,207
293
-396
-6,25't
7,590
9S2
2,667
Venezuela
Other Latin America
-3'»,857
ll21
-2,590
-6,576
13,8911
-10,2li9
Total Latin America
-2,918
39,1'65
20,llll7
China and Manchuria
Preuch Indo-Chlna
Hong Kong
114,677
-6,103
809
9,709
-2,7611
2,2li8
India
British Malaya
Japan
-3,938
6,1U8
-169
-10,980
-695
-2,951
-5,136
819
-8,175
Netherlands East Indies
Philippine Islands
Turkey
Other Asia 2/
-2,083
52,060
3,933
-3,055
2,3112
Asia:
Total Asia
Other countries:
AuBtrall a
New Zealand
Egypt and Anglo-Egyptian Sudan.
317
2,868
-5ltli
li,306
15,Oli6
3,1'99
1,83"'
-22,719
-2,lili0
Ul(,83li
1,191
7,680
112,27li
-11,854
1,071
5,''30
-3,156
1,763
-3,037
926
7,7n
-li,l8S
-150
-3,66U
-661
2S0
5,789
French Morocco
Union of South Africa
All other
2, ''53
263
-1,965
107
Total other countries
23,191
'',723
1,391
-10,1116
International §/
WliS
I9U8
Count 17
1,982
7,317
Unidentified
-3,699
1,037
Grand total
97,575
-113,778
2,lli3
9,li52
October p
Hcnremher p
July
Anguflt
September
October p
Norember p
. .
.
Treasury Bulletin
5«
CAPITAL MOVEMENTa.
Section
II
-
Sumnary by Countries
Table 2.- Net Moveoient (n Brokerage Balances and Long-Tenn Security Transactions by Foreigners
(In thontA^i of dollftrt;
as^tlT* flgar«t Indlcats a net outflow of capital fM« tho Oaltad Statea or net aalot by forotgnara)
Tranaactio&a la losff-tarv lacurltlaa, doaaatle and foralga
NoTaaaat la brokaraga balanoaa
Cotmtrj
July
Ualtad Xl^oa.
Traaca
BalflaB
19^8
19">8
Sapta^ber
Aogilat
-3»
-91
383
-770
-581
8
Octolmr p
loreabar p
68
188
5,U5
-206
161
-363
-80
-5,815
k06
-3
5k
-3
-13
-3
-1
3
21
-29
-9
20
-30
-1
-5
110
369
-k
-22
-296
-1,'>98
-61
-1,299
-5
61
Portti^al
-31
-13
has
17
Spain
Swadaa
6k
-5?
21
3
-3
67
52
-82
-2
-31
-918
-11,21.9
-2,022
-6,615
3
Italy
Loxaaboarf..
latharlaadi
lOTvay
Svltiarlaad..
U
U
-7
3
-*5
Saptaaibar
Auguat
-150
-382
-209
-1
Ik
flalaal.
July
k
600
-1,167
1,012
-l,7k0
1,073
379
-1,659
103
58
8
25
2
-1
1
-3
-3
-ekk
2
72
-1
189
-Ik
-9
-207
-175
k
-1
-5,03k
15k
-62
-3,01.3
1
-lk,k7k
-38k
-97
27
-7
8
12
57
-30
-2,390
-1,3U
3
-52
-38
-1.71
-2U
October p
-8
182
13
-103
-3,589
336
-88
-k
-k3
5
-75
-21
-158
192
-6,k72
-22k
3,2kO
-6
3
k
-6
-25
75
87
27
U. S. S. S. ..
33
VkCOalarla..
Other loropa.
-9
-100
12
Total loropa.
-g.k95
-5.671
-3.5U
-6,503
-3,608
-16,250
-11,060
-5,lkO
-933
-382
-967
353
-1,192
190
159
-159,922
3.939
8.9*7
-965
-25
25".
-161.
-1,000
-1
-120
-516
-15
36
-165
2
123
913
9
-8
951
6
89
1,06k
16
129
539
7
533
Chile
Coloabla.
Coata mea.
-583
-88
-81
126
-30
-31
225
37
-121.
98
367
235
39
30
93
122
-52
1,382
195
1
Cuba
franeh Vast Indies and Oulana.
Mazleo
-30l>
258
11.7
3,503
-1.29
1,21k
k
102
651
-k
352
2kl
-2
277
-72
-2
-931
1
3*5
223
237
53
U
2,7k6
72
88k
81
k7
528
122
Latin Awertea:
Argentina.
BollTla. ..
Sraill
.
-H
-1
38
Ik
k
5
-2
-1
-1,957
2,858
-16
-1
-1,953
letharlands Vast Indies and
Surlnaa
Panaaa
Peru
11
-131
liO
-30
6
-35
8
-385
-8
7
-76
-17
20
160
-7
Tenezuela
Other latlD Aserlca.
162
-806
99
157
-199
276
60
1,701
9,553
-600
60
98
-276
-3,k02
67
2,537
319
1,578
Total Latin Aaerlea.
-l.,893
2,256
-1,72*.
".,71.8
7,890
k,778
l,k36
5,676
k,238
-681
-1
-83
1.95
99
-1
131
103
1
7
-1
-u
1,150
-5,328
-6,klk
-50k
-131
210
206
k
-530
-9
-h
-11
-1
-13
-67
10
16
-1
-202
-327
-8
1
16
67
-6
-2
-3
-563
-8
-36
292
11
22
5
-33
-269
-9
-Ik
-5.108
-6,905
-l.°9?
k58
312
Asia
China mid Manchuria
french Indo-Chlna
Bong long
358
;
India
British Malaya
Japan
1
-60
81
.1.
Rilllpplne Islands
Turkey
Other Asla^.
-105
-k
1
58
18
-32
-2
-3
-9
-78
-3k
11
31
37
Total Asia
-829
fcte
-286
-»!
135
i.kae
5
-21
30
2
359
-91
-12
-1
-1
1.2
-27
-k
288
105
-20
U
-37
-7
-23
15
9
1
69
-10
110
-11
2
-lU
2k
65
-lk8
-1
12
kl
19
Ilk
Ul
no
ks
-7
186
92
-132
821
393
399
k3
k9
58
2,016
-8,967
-nt,2i2
-1,973
13.717
etherlanda laat Indlea.
Other countrlast
Australia
lev Zealand
Vypt
and Anglo-Efirptlan Sudan.
n^nch Morocco
Union of South Africa
All other
Total other countries.
5
1
3
-17
-156
-w;
23
67
International 2/
Onldaatlfled
18
-1*
Oraad total.
-8,673
-3,9^3
j/
1
-5
275
16
-12
-SWl.
-50
-5,133
Beginning vlth January 19k8, Includaa data for Pakistan, Bursa,
Ceylon, prvrloualy Included vlth India.
-2,9k3
k,k25
?/
p
Includea tranaactloiaa of Intematlocul organltatlona such aa
UKRRA, International Monetary Fund, and International Bank,
PrellBlnary.
February 1949
59
CAPITAL MOVEMENTS
Section II
-
Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position At and of month In thousands of dollars)
Claims
Country
LlaMlltles
19U8
July
August
191*8
Soptember
October p
HoreiBlMr p
ttiropa:
United Iln^dom.
Tt-anoe
23,57''
123,122
20,021
18,I>79
Belglua
730
5,281
30,363
Demnarlc
Finland
Germany
SljISli
12U,877
!/•
Total Borope
Canada.
Latin imerlca:
Argentina.
BollTla
Brasil
.
Chile
Colombia
Costa Slca.
.
..
Cuba
Prench West Indies and Oulana.
Mexico
Netherlands Vest Indies and
Surl nam
Panama
Peru
Venezuela
Other Latin Anerlea.
Total Latin America
359,983
166,531
U7,l61i
380,557
1711,1311
U2,767
llO,702
It6,l6l
18,793
17,132
153,175
33,6'A
30,ltU8
It, 052
19,125
310
3,278
16,253
32
3,6113
3,1199
32,286
22,082
20,ll01
16,500
211,965
16,955
lUy
237,0511
305,1192
16,039
271,291
15,710
315,383
10
1U,788
l'>,909
15,9711
75,265
17,210
821
69,5111
57,215
110,515
58,916
U5,26l
122,682
66,008
115,033
68,899
39,727
107,831
71,618
111,766
72,922
725
69,775
27,268
715
'•3,685
Il2,087
12,00li
12,001
12,003
2,728
981
7,616
17,291
6,96U
16,100
7,2li8
7,20U
12,005
3,320
5,213
l8,29lt
'•8,lU9
'15,658
15,7112
li8,821
6,876
16,097
'•9,335
112,526
6,969
7,1166
"1,179
528,682
525,895
508,631
5
3
28,lil2
5U,069
17,002
51,229
110,531
32,7511
1
10,602
2U,828
111,879
377, 8U3
2,1152
Svltserland.
S. S. B...
TugoslaTla. .
Other lurope.
3115,955
l6o,61i6
ll6,8lil
29, ''76
12,002
n.
1111,190
'',590
860
Bumania
Spain
Sweden
371,927
168,008
HoTember p
30,368
5S,9l>2
12,7''3
.
l,lli5
372,510
163,033
121, 7^7
October p
3,130
3,337
25
•
20,82ll
18,155
117,105
21,155
Septoiiiber
3, '•38
I6,lt92
Vetherlanda.
Horvay
Portugal
23,1123
U8,283
August
1,025
3,779
Oraece
Italy
La2embo\irg
626
20,876
123,156
17,698
July
21i,2lil
111,970
509
li2,786
111,
26,652
72,728
25,369
76,8U1
953
Ii7,'il9
111,258
22,081t
101,3611
125,2119
21,870
333,805
7,681
5,lll0
5,^5
2,27'i
1,569
7,596
9
7,500
39,031
5U8,508
55,716
11,729
102,856
5119,513
U8,073
7,092
Ul
11,060
39,099
m
WjliCl
106,U35
'•15,322
396,720
395,607
352, "158
2,091,392
2,130,5118
2,1211,236
2,159,01i2
2,22ll,601
23,9''8
2'', 699
25,588
29,267
38,807
616,670
656,361
685,9711
701,275
766,006
62,173
3,635
179,093
6l,21ll
6l,981i
2,5li8
63,760
2,922
66,81i8
l89,77'i
2211,787
210,li81l
2,liS7
12,069
189,759
13,007
208,150
3,0l.lt
12,li71
lli,373
178,723
173,278
17lt,95l'
180,023
U3,820
117,1129
U5,69lt
122,250
16,098
131,399
18,7'tl
17, ''71
19,127
60,155
55,933
58,253
liO,203
52,896
52,719
1'2,1'60
33,7li2
'•8,651
Ii6,'i98
37, "187
116,209
119,397
1,777
1,''89
1,3118
21,007
39,755
1,083
18,66U
"•5, 59''
1,1'83
9,001
8,636
7,188
6,86U
7,826
78,732
67,625
61,390
65,1198
23'i,850
13
1,U3
217,716
1,217
76,1115
72,251
72,7113
135,372
976
152,620
823
72,W»0
35
76,619
231,198
765
150,721
221,li06
11
72,350
31
225,636
5
lli8,937
Ili7,lilt7
l,58lt
1,1'2''
1,252
1,025
18, 35"!
22,281
It,
61t,128
3,515
52,lli4
50,576
20,703
31,977
20,765
18,778
33,225
20,8lll
18,071
76,019
76,679
97,lt63
33,78ii
35,538
36,1136
1911, "173
192,9'i9
67,692
50,UU8
88,718
179,328
65,260
3,9ltlt
73,l"i2
115,120
70,71''
'',183
3,81i9
li,170
21, SOU
23,3110
3,579
'1,002
'1,232
17,775
"•,177
176,313
77,883
173,525
52li,lli6
5U,917
1193, 1139
5U,'>71
511,862
1,202,699
l,226,2lt3
l,22lt,260
1,258,U22
1,222,696
157
161
3,863
65,521
120
25,866
290
3,512
158,155
5,259
1116,361
181,7119
151^,573
193,3118
5,280
U8,966
5,721
119,70*
5,8611
'17,176
6, 1102
3,5''0
39,000
81
3,121
'13,3211
'•8,811
19,''55
20,038
63,51^8
50,568
ltli,785
988
7,630
15,629
79,171
llt,7'»7
15,771
'10,933
13,9011
6,0511
20,167
525
7,359
76,786
711,209
76,818
382
36,202
36,672
521,722
22,388
152,501
51,882
Slt.OlJ
'196,091
2U,398
161,859
508,3U8
17,956
168,932
1,1011,990
1,085,203
1,122,199
18,722
6,877
36,3ltlt
19,163
5,293
36,837
20,387
5,350
30,868
U,301
1,239
111
3
1A,735
1^,559
106,656
'•8, 'tis
118.
Asia:
China and Manchuria
Prench Indo-ChlnA
Hong Eong
56,681
India
British
Japan
22,218
976
20,223
787
1,'*58
2,0311
917
32,350
5''1
29I1
29,1168
l,81i7
3'l,2lll
U,335
373
33,212
1,989
10,30U
132,30k
36I1
S.ltSl
Mal^a
Hether lands last Indies.
Philippine Islands
Turkey
Other Asia 2/
I'*,
I129
liU,883
9,508
80,851
11,936
l,58'i
12,U81.
11,118
32,921
517,366
21,095
152,326
119,103
l'il,0li6
U7,326
107,168
1,095,1711
1,07U,785
2,220
560
U52
3,603
683
2,233
3,821
1,087
186
3,786
6s6
261
3,1176
23,827
3,660
33,213
21,978
Prench Morocco
Union of South Africa
All other
233
11,133
5,360
173
133
2I16
11,107
9,686
5,097
11,069
5,150
301
11,629
6,172
10,9113
9,870
5,355
15,722
57,625
12,ll20
10,996
8,619
66.676
V.
57,615
77,897
12,232
10,767
71,812
Total other countries.
19,958
21,917
20,010
21,138
22,388
llili,990
151,268
llt8,23lt
159,893
151,lil6
1,929,033
1,918,838
1,915,663
1,916,535
1.900.569
Onldentlfled
67U
553
805
383
Ult6
16,102
17,032
l6,81i5
I8,l81t
16,316
Orond total.
1,078,873
1,093, 5U
1,077,608
1,075,192
1,033,129
7,096,060
7,175,075
7,220,208
7,298,55''
7,1103,803
,
Total Asia
Other countries;
Australia
Hew Zealand
Egypt and Anglo-S^yptlan Sudan.
2,52''
l,7lt7
590
220
International 3/
1/
2/
Beginning vltb March I9I17, Includes balancee In accounts opened
by occupation authorities for foreign trade purposes.
Beginning with January 191*8, Includes data for Pakistan, Burma, and
Ceylon, preTlously included with India.
^
p
5,51'7
li2,601
Includes dollar balances of International organizations such
UMBRA, International Monetary Fund, and International Bank,
Preliminary
U9,88o
500,857
17,90lt
170,1136
Treasury Bulletin
60
CAPITAL MOVEMENTS
Section
II
-
Summary by Countries
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
(Position at ond of aonth la thoosanda of dollar*)
C«uiti7
1/
p
B«gliinli« vltk
PrellKlnaz7.
JamszT 19^, Includaa data for Paklatan, Bqzvb, and Ceylon, pranonalj loclodod vlth India.
Febntani 1949
61
CAPITAL MOVEMENTS.
Section III - DetallB for Month of September 1948
Table 1.- Short-Tera Clalns on Foreigners
..
..
-
.
.
62
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of September 1948
Table 2.- Short-Tem Liabilities to Foreigners
(Position at end of aonth In tboueaada of doll&rK)
Aiort-terB liabilities pigrable in dollar*
Total
abort
tan
Country
llablU-
Total
tlaa
loropa
Ihdtad Kingdoa.
Ttanca
BalglnB
Ibposita
of
feral 0iars
Bllla bald
for
account of
foraignara
U.
OoreruMint
Treasury bllli
and cartl float a* of iBdebt adnata
^ort-tara liabllltlea payabla In foreign enrranclaa
S.
Othar
LlablUtieii on
acceptances made
tjj foreli^iera for
a/c of reporting
baska and bankers
Borrowed
froa
foreign
Total
banlra
:
Inland.
Ormaajl/.
.
3l»5,955
l6o,61i6
ll6,ai.l
286,822
270,81.3
1115,173
105,171.
3,108
160,5?''
U6,'i7'i
'•1,?58
?2,08lt
l»l,153
39,837
873
22,081.
22,081.
K)l,361>
101,351
101,067
167
21,881
298,056
1,028
5,795
289
2
2,269
Oraaoa
Italy
Lazaabonrg.
??,08?
22,055
305,li92
305,1.85
Ik, 788
latbarlanda
U5,033
1U,788
orway
Portxigal .
.
.
Spain..
Svedea.
Swl tsar land..
0. S. S. B...
Tngoalarla.
Other krop*
11,105
10,535
1,5911
1,071.
9,7113
1,766
3,222
U83
59,133
122
367
I1O7
36
105
105
105
13
U
1
27
25
606
7
7
101.
103
58
a?
58
78
69
307
67
279
1172
173
111, ''99
I.,
1.96
51,258
110
267
19
1111,929
68,81.1
39,61.5
112,310
51,386
38,106
276
2, 3''!
68,999
39,7?7
5,1129
9,757
7,21.8
15,7''?
1.8,821
'.8,51'.
7,219
15,367
til, 551
29
108
3,868
195
95
5?8,6a2
5?7,2li?
l'78,38li
?li,901
12,833
11,121.
i,uo
W,531
kO,531
to, 101
1.30
10,60?
10,5911
10,571.
13
6
1
13
15,673
1,539
llfl. It'll
lis, 1.23
93,952
.,11.3
19,1100
928
8
18
2,12U,?36
?, 062, 376
1,910,561.
l>8,753
82,513
20,51.6
61,860
6,091
6R5,97lt
6a?,ll.l
301,?lili
2,983
375,853
2, 061
3,833
69I.
208,150
12,U71
U5,69'>
207,999
205,132
815
151
126
12,1.71
115,671.
12,1167
1.
102,233
10,321.
2,839
20
20
52,896
37,U87
52,895
50,701.
37,lt81.
36,913
7,1m
7,188
6,918
1,816
571
120
231,198
231,198
229,981.
893
250
71
765
150,721
765
150,719
765
150,133
I157
61
68
21,50l4
21,501.
lli,li99
5
7,000
67,69?
50,U.8
67,692
52,81i3
263
lli,58U
1.9,819
119,2110
^^
25
6?9
629
Tenatoala
Other Latin Aaerlca.
88,718
179, 3?8
88,329
99
2,679
389
178,921.
88,230
152,070
389
370
Total Lntln Aaerica.
l,?2ii,26o
l,2?2,66l
1,152,131
19,837
1.6,367
181,7119
181,71.8
170,612
1,839
8,712
1,000
.
Total loropa.
Canada
• •
•
•
Latin
arte
Argentina.
Bollrla...
Braill
51,277
.
Chlla
ColoaMa.
Coata
UcB
Cuba
fVaneh Veat Indlee Mid
Ooiana
Kaxleo
latbarlanda Vast Indlaa
and Snrtaaa
Psiaaa
Pam
2,052
278
375
150
21.,
169
llOl.-
I*,
326
1,599
585
123
318
1
1
2,1.1.1
2,W.l
1,057
'.99
11.
II.
29
19
1,539
Aala:
China and Mjulchnrl*.
rr«ncta Indo-Chln&.
Bone ^n«
.
5,280
5,280
li,157
1.8,966
1.6,525
115,835
372
1.3,728
".1,1.79
2,21.9
15,757
180
ll.,786
65,766
590
1,808
381
6,606
2,1.00
i.l.,785
IniUa
Brltlu
15,771
Mslajra.
Ja])«n
71., 209
71.,
etharlandi lut ladlai.
51,882
51,881
Fhlllpiilna Iilaadi
1.96,091
Turkej
Othar lala
398
161,859
1*96,091
?l.,398
j/.
Othar eoontrlaa:
teatralla
av Zaaland
*
f^anch Morocco
Union of South Africa.
All othar
Total othar countrlea...
Intarnatlonnl
ftildantlflad
Orand total
2/
20,000
255
liOO
399
1,101,01.7
1,032,396
27, ''37
39,099
2,115
3,9''3
3,371'
18,722
6,877
17,005
ll.,309
735
6,7311
990
106
1,1*71
6,81^)
1,717
37
36,31.1.
36,?88
36,203
50
10,996
8,619
66,676
10,996
7,952
66,669
10,977
7,855
18
U7
611,8??
33''
10
1,500
11.8. 23U
11.5,750
Ili0,900
1,5''5
2,981
1,915,663
1,915,663
330,5211
18,011
83 U
501
239
and An^lo-Z^ptlaa
Sudan
1/
ll«3,20l.
1,101., 990
21.,
Total lala
l^pt
161,1.59
290
12,902
6,387
1,000
119,191
1182,355
501
^
16,81.5
16,81.5
7,2?0,?0?
7,l'i6,li83
17
381.,
583
3?l<
663
7
5
2,1.81.
689
239
73,719
1^,387
52,017
1,585,137
16,8^U
1.,
667
21
100,555
Beginning vlth March I9I.7, Inclulos balancaa In accounta opaned
hj occupation authorltlee for foraign trtule purpoeea.
BaglmUng vlth Januar7 I9I.8, includaa data for Faklatan, Bursa, ami
2,131,950
^
29,395
Ceylon, prerloualj Included vlth India.
Includaa tranaactlona of International organltotlona euch n.
UKRRA, International Monetary Fund, and International Bank.
February 1949
63
CAPITAL MOVEMENTS
Section III - Details for Month of September 1948
Table 3.- Purchases and Sales of LonK-Terin Securities by Foreigners
(In thoasandB of dollars)
Porchases by foreigners
Country
Total
porchases
Ibaestie securities
Total
Stocks
Sales by foreigners
Toreigs eecorltles
Bonds
Total
Oomestie securities
Total
ftrvlgn securities
ales
Stocks
Total
stocks
Bonds
Total
Stocks
Bonds
Iiirope:
5,9?1
7,116
2,37B
l»,569
i.giti
2,628
6,528
881
610
5,61.7
l,'t93
Qennarlc.
71 aland.
73
itl.
hk
Oermany.
3
3
3
317
29
180
29
IU8
29
32
2U9
93
67
136
uo
United Klngdoni.
Prance
Belgium
11.2
1,210
123
519
6,765
8,856
1,305
l.,701
1.65
29
29
65
39
39
1
1
1
1
1
1,352
588
885
883
1
Greece
Italy
Luxembourg.
HetherlandB.
517
Horvaor
llOl
133
no
67
Portugal.
.
.
RumanJa.
Spain. .
Sweden.
31
37
Switzerland.
n. S. S. H...
Yugoalarla.
Other Burope.
ll.,858
13, '•07
3,521
It
h
Total Europe.
31,920
27,001
lU.lOl
28,53't
16,59U
3,160
Canada.
Latin America:
Argentina.
BollTla...
Brazil
137
132
268
59
26
2
ll
6I.3
1,1(51
3
8,197
815
1,522
2,338
3,179
1.81
331.
5,r
2,061.
659
1.90
305
319
58
1,759
3ltO
It32
26
26
1.9
38
9
9
9
1.92
I1I.3
128
315
30
30
23
7
3.560
3,281
2,621
106
1.20
51.
660
366
279
501.
8I1
2
173
82
16
169
168
1
198
29
13
3
3
3
117
58
113
69
38
kli
1.9
15,082
12,289
9,81.11
2,1*5
2,793
1,361
l,lt32
6,628
2,332
It,
7,796
l.,573
3,223
11
3
U
108
1,28?
137
l<3
37
.
366
83
58li
19
k
15
13
10
'•,919
1,738
3,181
37,060
30,1.32
17,193
13,239
"•3''
11,91.0
3,153
8,787
2lt,595
16,799
2,257
111, 51.2
33
698
21
5
12,900
13,
296
218
185
185
3
2
7
5
5
6
2
27
18
551
16
677
23
l»38
22l>
2?ll
211l
9
205
309
26I.
252
17
28
Chile
Colombia.
Costa Sica.
I167
212
236
21.
3
100
38
100
38
100
11
255
27
19
38
192
11
1.
1.
ll
Cuba
98l(
681
598
303
170
133
71.3
51.2
310
2
2
2
1.
1.
718
6UI1
518
U1.1
1.U
6
3,207
31
6
6
3,070
29
101.
.
83
^ench West Indies and
Guiana
Mexico
Netherlands Vest Indies
and Surinam
Panama
Peru
17
15
l»,091
3,7l<3
112
112
15
3,693
58
Venezuela
Other Latin America.
232
•,185
209
1,587
lis
1,529
Total Latin America-
12,593
3,0li6
7,558
1,019
935
867
106
72
q
9
126
66
71.
2
2
3I.8
189
159
38
1.
1.06
5
30
932
2,138
137
23
6
18
221
165
113
1,61.8
1,005
1,66U
6,917
5,772
3,250
2,522
7,1.33
7,1.0li
7,025
379
72
102
92
92
6
211
211
£11
2
2
ua8
23
5
2,598
2,377
li,5U7
128
232
26
65
72
2
9
52
116
6I.3
1
51
177
1.66
1.52
693
1.5
15
31
30
Asia:
China and Manchuria
Preach lado-China.
Hon^ Kong
India
British Mal^a.
Japan
Hetherlands last Indies.
Philippine Islands
Turlcoy
Other A«la 1/
Total Asia
1.3
25
all
2lt
1
Si*
23
6
U9
1.8
26
1
311.
1
1
2
318
12
88
311.
3
12
72
12
61
11
80
8,190
8,130
7,721
k09
630
328
267
266
7".
59
37
1,285
1,1U8
1,033
786
156
156
2
U6
22
16
6
6
h6
1.6
191.
169
31.
12
23
1.
2
210
115
25
19
100
15
13
1.2U
115
15
5
137
57
13
Other countries:
Australia
New Zealand
Egypt and Anglo-Egyptian
Sudan
French Morocco
Union of South Africa
All other
225
15
219
Total other countries...
1,081
I136
5,062
5,0''7
8o,l»75
58,272
International 2/
22
630
12
61.5
61.1
682
1.27
5,Ol'7
15
15
5,001.
5,0OU
31,996
22,203
ll.,368
82,1.1.8
66,^1.
399
61
28
255
135
2
2
169
5,001.
Unidentified.
Grand total.
1/
26,276
Beginning with January 19'*8, Includes data for Pakistan, Burma,
and Ceylon, previously Included vlth India.
7,835
2/
30,820
3^,7iti.
15,881.
7, It 88
Includes traneactlonB of International organlzationa such as UNRRA
International Monetary Fund, and International Bank.
8,396
m
6K
Ireasury Bullet.
CAPITAL MOVEMENTS.
Section III A
-
Preliminary Details for Month of November 1948
Table 1.- Short-Tera Claias on ForeignerB
(Politico At eoa of aooth Id thouaandB of dolian)
Oountrj
February 1949
65
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1948
Table 2.- Short-Term Liabilities to Foreigners
(PositloD at end of month In thousands of dollars)
Country
Treasury Bulletin
66
CAPITAL MOVEMENTS.
Section III A - Prellmlimry Details for Month of November 1048
Table 3.- Purchases and Sales of Long-Tern Securities by Foreigners
(la thaasanda of dollara)
CooBtrr
February 1949
67
CAPITAL MOVEMENTS.
Section IV
-
Outstanding Contracts for Forward Purchases and Sales of Foreign Exchange
.
:
Treasury Bulletin
68
CUMULATIVE TABLE OF CONTENTS.
March 1048 through February 1040
lasoa tad pag* n\ab«r
19'ia
Har.
Air.
Ma7
19^9
Jma
Julj
Ai«.
A-1
A-1
A-1
8
8
8
8
8
8
8
8
8
9
9
9
10
10
9
9
10
10
11
11
12
12
11
11
12
12
11
11
12
12
13
13
13
13
13
13
12
12
13
13
Sept.
Oct
lOT.
Dm.
Jan.
Artlclet:
TrvaMVrj f iaancli^ operatlona
Announcaaant of change in reporting procedure on refunda
and capital tranafera
A-1
Suaaary of Federal fleeal operations.
Budget reoelpta and expenditures:
Si^maxj b7 aajor claaalflc&tlona
Recelpte b7 pnnclpel sourcee
bpendlturee by major claaalf Icatlona
Sxpendlturea for national defenae exA related actlTltlea
bpendlturee for International finance and aid
"Other" expenditures
S\^Bar7 by aontha and calendar years
Social Security Act
Sallroad Bstlreaant Act
Kallroad Tftunployaent Insurance Act
Trust account s
,
etc.
Baoelpta and expenditures by aajor claaalf loatlons.
giaimi J of racelpta and expenditures of all trust
accounts etc
Becelpta, by principal accounts
Inrea^wnte, by principal accounts
bpendlturea other than Inresteants, by principal
accounta
Federal Old -Age and SurrlTors Insurance Trust Fund.
Pallroad Petlreaent Account
Dtaaa^loynent Trust Fund
,
9
10
10
8
8
8
9
9
10
10
9
9
10
10
Treasury cash Inoome and outgo;
Si^aary of
DerlTatlon
DerlTatlon
DerlTatlon
DerlTatlon
SiSBnjy of
cash transactions
of cash budget receipts
of cash budget expendlturee
of cash trust account transactions
of cash borrovli^ or repayaent of borrowing.
cash operating Inccne and outgo by aonthe . .
10
10
10
11
10
10
11
12
12
12
10
10
11
11
12
12
13
13
13
13
13
13
IV
Ik
15
Ik
15
Ik
Ik
15
15
15
Ifi
15
15
16
15
15
16
15
15
15
16
15
15
16
15
15
16
15
15
16
15
15
15
15
16
16
16
16
16
16
16
16
16
16
16
17
17
17
17
17
17
17
16
16
16
16
17
17
17
17
17
17
17
17
17
17
18
18
18
18
18
18
18
18
18
IB
18
18
18
19-80
21
19-80
81
19-80
21
19-80
21
19-20
21
19-20
21
22
88
83
2k
83
10
u
11
12
u
11
11
12
12
13
13
11
U
11
12
12
13
13
lit
Ik
Ik
Ik
Ik
Ik
Ik
Ik
Ik
Oeneral rund of the Treasury:
Status of the General Fund
Analysis of chaise In balance In the General Fund
Debt outstanding:
SuHiury of Federal secnrltles outstanding
Interest-bearing public debt
Interest- bearii^ guaranteed aeourltlea
Special laeuaa to U. S. Gorerment agencies and trust
funds
Ceaiputed Interest charge and ccHputed Interest rate on
Federal securities
Treasury holdlnga of securities Issued by corporations
and certain other business-type actlTltlee of the
D. S.
Gcremaent
U
U
Statutory debt limitation!
•
Status under limitation
Application of limitation to public debt and guarsnteed
securities outstanding
17
17
17
17
18
18-19
80
18-19
80
18-19
20
19-80
21
Debt operatlona:
Katorlty schedule of Interest- bearing public marketable
securities Issusd by the U. S. Goremment
18-19
Offerings of Treasury bills
20
Offerings of marketable Issues of Treasury bonds, notes,
and certificates of indebtedness
Disposition of matured marketable Issuss of Treasury
bonds, notes, and certificates of Indebtedness snd
guaranteed securities
22
Issuance and retlroaent of the public debt
83
(
21
81
83
88
83
83
83
Continued cc folloving page)
8k
83
8k
83
8k
83
8k
83
8k
8k
February 1949
69
CUMULATIVE TABLE OF CONTENTS.
March 1048 through February 1040
-
(CJontlnued)
Issue and page number
19U9
19't8
Apr.
May
June
July
Aug.
Sept.
25
25
26-27
25
25
26-27
Feb.
United States eavlnge bonda:
Sumnar; of cumulative ealee aM redemptlone by eerles..
Sales and redemptlone, all eerlee combined
Sales and redemptlone of Series E, F and
Sales of Series Z, 7 and G:
By denominations
By States
Pedemptlons of Series A-E by States
21*
21.
21.
25
21.
21.
21.
25-26
25-26
25-26
2U
25-26
25
26-27
21.
25
25
26-27
25
25
26-27
25
25
26-27
25
25
26-27
26
89-30
31
25
25
26-27
28
29-30
31
Treasury aaTlnge notes;
Summary of cumulative sales and redemptions by series.
Sales and redemptions of Series C ani^ D.,,.,,,
27
27
28
26
28
29
32
32
Ownership of Federal geourlties;
Distribution by classes of Inreetors and types of Issues
Net marlcet purchases or sales for Treasury Inrestment
accounts
Estimated ovnerahlp by bask and nonbank Inreatora . . .
28
28
26
29
26
29
30-33
30-33
28
29
29
29
29
29
33
28
33
29
3U
Treasury survey of ownership:
Ovnerahlp by banks, Insurance oconpanles, and others...
Ovnerehlp by coBmerclal banks classified by membership
In Federal Reserve Syotea (latest date June 30, IjW).
30-33
30-33
31-31*
35-38
3l*-37
31-31*
31-31*
31-3U
3I-3U
31-3U
35-38
35-36
37
35-36
37
35-36
37
35-36
37
39-to
Ul
35-36
Market quotatlonet
Over-the-counter closing quotations on Federal securities by Issues
Chart shoving yields of Treasury securities
3lt-35
38-39
3''-35
3lt-35
36
to
36
36
35-36
37
39-M
Ul
39-to
Ul
yields of Treasury and corporate bonds:
Average yields of long-term boods by periods....
Chart shoving average yields of long-term bonds.
U2
U3
Internal revenue oolleotlons:
Sunmary by principal sourcee
Chart ehovlng Internal revenue collections.
Detail of collectlone by type of tai
39
to
US
l»l-ll2
I15-I.6
39
to
to
kl
U*
1.1.
to
to
1*5
1*5
1.1-U2
I.I-U2
1*2-1*3
1*6-1*7
1*6-1*7
Ul
U2-U3
39
to
Ul
U2-U3
to
Ul
U2-U3
to
Ul
U2-U3
UU
U5
U6-U7
Monetary statistics:
Money In circulation
Monetary etocke of gold and silver
Gold aaeeta and liabilities of the Treasury
Ccnponents of silver monetary etock
;
Silver production In the United States and acquisitions
by mints and aaeay of fIcee
Seigniorage on silver
Increment frcoi reduction In volght of gold dollar
(latest date December 31, 19148)
Treasury gold receipts (latest quarter ending
September 30, I9U8)
1.7
U8
US
U9
U9
50
1.8
1.9
1.9
'
,
50
51
50
51
,
1.6
51
1.6
U7
Exchange Stabilization Fund:
Balance Sheet (latest date September 30, I9U8)
Inccoe and expense (latest date September 30, I9U8)..,.
52
53
Capital movementa between the United States and
foreign oountrlee:
Historical summary of capital movements since 193?
Summary by countries and months .........•.•.•••••...••
Details for latest months by countries
PoBltlon In foreign currencies
..•
Outstanding contracts for forvard purchases and sales
of foreign exchange
U7-U9
50-53
5U-56
57
51-53
1*9-51
1.7-1.9
1.8-50
51.-56
52-51*
5'»-57
50-53
51-5"*
58-60
52-55
56-58
51.-56
55-57
57-60
61-63
55-58
59-61
U8-50
51-5U
55-57
50-52
53-56
57-59
U8-50
5I-5U
55-63
U8-50
51-5U
55-60
5U-56
57-60
61-66
57
61
59
57
58
61*
62
58
60
6U
61
67
Corporations and certain other business-type
activities (latest date June 30, 1948):
Loans outstanding
Balance sheets
Incoane and expense
Source and application of funds.
62
63-66
58-61.
65-72
61
62-65
58-60
61-6U
65-67
68-71
BUY
AND
HOLD
UNITED
S
TAT
E S
SAVINGS
BONDS
Treas,
HJ
10
.A2
1949
C.2
U.S. Treasury Dept.
Treasury Bulletin
@FedFRASER