Full text of Treasury Bulletin : February 1951
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TREASURY DEPARTMENT
FEBRURRY-1351
%
UNITED STRTES TRERSURY DEPBRTMENT
DFFIGE DF THE SECRETRRV
February 1951
Table of Contents
Page
Treasury financing operations
A-l
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust accounts,
g
etc
Treasury cash income and outgo
12
General Fund of the Treasury
15
Debt outstanding
16
Statutory debt limitation
20
Debt operations
21
United States savings bonds
26
Treasury savings notes
33
Ownership of Federal securities
jk
Treasury survey of ownership of Federal securities
36
Market quotations
4-0
Yields of Treasury and corporate bonds
4-3
Internal revenue collections
4-5
Monetary statistics
kj
Exchange Stabilization Fund
53
Capital movements
55
Cumulative table of contents
68
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percentages) have been made from unrounded figures.
Consequently the details may not add to the totals shown.
.
February 1951
a-i
Treasury Financing Operations
Treasury Bills Refunded
Treasury bills maturing In January totaled $k.O billion.
weekly offering of $1.0 billion equaled the amount maturing.
Each
The
average rates of discount on the four new offerings were 1.3*51 per-
cent for January
k-,
I.3&7 percent for January 11, I.39I
percent
for
January IS, and 1.3&9 percent for January 25.
Note:
Details of Treasury market financing operations are shown elsewhere in
this issue of the "Treasury Bulletin", in the tables on "OfferingjPand
"Disposition", respectively, of marketable issues of bonds, notes, and
certificates of Indebtedness, and in the table "Offerings of
Bills"
Treasury
February 1951
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollare)
Budget receipts and expenditures l/ Trust
Net
receipts
Expenditures
2/
yy
Surplus
or
deficit
<->3/
accounts,
etc, - net
receipts,
or expenditures (-)
decrease
Net
increase
In General
Fund balance, or
decrease
(-)
(-)
Net
Increase
Clearing
account
£/
y y 5/
In
public
debt, or
Levels, end of period
Debt outstanding
General
Fund
balance
Public
debt
Guaranteed
securities
72,1*22
4,568
4,100
Total
Federal
Becurltle
Fiscal years:
12,696
22,202
1942
19"»3
19k *
1945
1*3,892
1
44,752
1*0, 02?
19^
1947
1948
1949
1950
34,187
79,622
95,315
98,703
60,703
-21,490
-57,420
-51,423
-53,941
-20,676
-1,613
-338
-2,222
791
-524
39,289
33,791
-1,103
-294
-495
99
555
-507
366
-11,136
-5,994
-10,930
1.78
-1,462
1*83
4,587
2,01*7
22
-8
2,943
16,000
37,01*5
40,167
754
8,419
-1,811
-3,122
512
55,138
47,210
71,594
-2,699
-16,456
-283
19>>2
16,290
3li,l*83
57,751
90,174
97,181
87,522
41,322
-1*1,1*61
19»3
1944
1945
1946
-55,691
-53,650
-43,594
-2,512
-1,788
-266
-1,161
-123
-1,386
1*0,01*3
1*2,211
38,21*6
1951. lEstima ted)
1952 (Estimated)
1*1*,
1*0,057
136,696
201,003
258,682
269,1.22
1*76
3,308
4,932
3,470
5,517
258,286
252,292
252,770
257,357
90
27
20
258,376
252,366
252,798
257,377
-17
5,500
5,500
260,300
276,300
38
31
260,338
276,331
50,232
57,707
64,753
6,983
1,751
3,767
-22,502
108,170
165,877
230,630
278,115
259,149
4,301
4,230
1,514
567
339
232,11*1*
47,1.81*
10,543
12,294
22,236
26,003
3,502
3,097
256,900
252,800
257,130
256,708
81
256,981
55
30
24
257,160
256,731
256,574
254,605
252,990
77
79
78
256,651
254,683
253,068
252,21*0
75
75
73
252,315
252,311
252,366
64,307
57,679
10,740
464
358
6,515
10,662
4,529
2,991
9,507
20,169
24,698
14,238
23,1*61
6l*,27l*
-10,1*60
1,621.
1,623
433
73
76,991
140,796
202,626
259,115
269,898
Calendar years :
43,531
1*3,928
38,810
1947
1948
1949
1950
1*1,010
362
-18,966
2,434
5,241
-3,592
-422
-350
-229
-502
-21*0
-2,21.9
199
311
87
-4,100
4,331
-423
1,396
1,934
2,788
259
-194
-86
-101
-53
2,541
2,222
4,018
-302
103
378
81*1
-685
3,741
2,335
3,066
-1,645
169
1,477
202
-374
2,911
3,163
4,102
-810
-623
-88
3,205
2,972
3,651
374
1,783
3,151
3,104
4,656
-1,811
-1,159
111
-1,488
-1,106
837
-1,230
-783
1*1,1*50
38,576
36,209
38,122
41,711*
37,831.
38,255
1948- January .
February.
March
4,196
*,158
2,800
5,871.
3,086
April
May
June
2,239
July
August. . .
September
2,096
2,505
October.
November .
Dec amber..
2,101
1949- January...
February..
3,579
3,381
March
5,1*35
April
May
June
1,31*0
23*.
9,91*2
-405
1,111
471
-1*1*7
1*,208
4,679
4,232
112,471
170,108
278,682
259,487
252,851*
Months:
.
2,321.
I*,
859
"•,5^3
.
2,51*0
1*,011*
1,945
4,767
2,221*
July
August. . ..
September.
2,1*79
4,832
3,434
3,585
3,995
October
November .
December
1,881
2,344
4,191
3,111
3,127
3,722
3,366
2,972
4,820
3,323
1,488
2,320
.
1,9**6
.
.
1950-Jonuary...
February
March
1*09
1*69
1*1.
86
I*
700
-289
1,082
-324
-362
141
-21*1
751
5,074
4,832
5,583
253,374
253,049
252,687
55
51
50
253,429
253,101
252,738
4,802
4,385
4,208
252,460
252,506
252,800
52
57
252,513
252,563
252,854
9
340
-51
87
-179
101
-1,080
451
631
U76
4,659
5,291
5,767
252,620
252,721
251,642
36
26
-62
291
-511
213
-32U
-173
-111
359
881
-1,771
-833
308
3,995
3,163
3,470
251,530
251,889
252,770
23
23
27
251,553
251,912
252,798
30
218
-133
20
-133
1,081
1,231
3,337
345
1,107
1,975
828
253,877
255,852
256,680
26
27
29
253,902
255,879
256,709
98
-962
-315
4,737
148
257
4,679
256,778
256,982
257,130
28
201*
256,805
257,011
257,160
-265
370
137
935
5,01*9
256,865
256,368
255,724
27
27
-1*04
10
299
-272
2
170
-79
147
It, 1*0*.
108
•53
July
August. . .
September.
1,881
2,860
4,605
3,013
2,515
3,520
-1,132
1,081.
-99
147
-27
October. .
November..
December
2,056
2,851
4,211
3,170
3,102
3,742
-1,114
-17
470
252,236
252,292
-84
172
-315
-61*2
.
4,932
l*,9l*6
294
-1,358
-252I*/
-11.
-I63
2,962
4,296
M
-3
56
-219
2,81*7
31*1*
-750
4,318
5,353
4,612
-781
-417
-177
1*76
,
226
-144
-226
I*,
-227
1,551
April
May
June ......
61*8
1,551
-330
1,035
-741
334
174
-158
82
3,269
,
-326
-1,969
-1,615
317
2,1*96
.
222
-?3
1*6
l60
-36
-88
589
-11
122
-1*97
-61*5
-6
i*,ltl8
5,699
I*,
1*22
5,186
6,121
55
21*
29
30
21*
252,656
252,747
251,666
256,892
256,395
255,747
632
1,007
-1,419
-238
1,053
5,517
255,718
256,350
257,357
20
255,740
256,370
257,377
-80
183
333
-658
-1,017
685
319
4,500
5,185
5,505
257,541
257,874
257,216
16
18
20
257,557
257,891
257,236
49
-63
-52
-279
140
-369
-1,359
4,11*5
-6
4,139
4,232
256,937
257,077
256,708
22
24
256,959
257,100
256,731
25
-376
-8
31
-11*0
169.5/
45
Source* Actual figures from Dally Treasury Statement; estimates based on
the 1952 Budget document. Including effect of proposed legislation.
1/ Both receipts and expenditures exclude (1) refunds of receipts and
(2) payments to the Treasury, principally by wholly owned Government
corporations, for retirement of capital stock and for disposition of
earnings. For prior fiscal year figures adjusted to a comparable
basis, beginning with 1931, see the 1949 Annual Report of the
Secretary of the Treasury, pages 360 and 361.
2/ Gross receipts less appropriations to Federal Old-Age and Survivors
Insurance Trust Fund and refunds of receipts (Bee "Budget Receipts
and Expenditures'*, Table 1).
To make the figures for the fiscal years 1948 and 1949 comparable
with those for othsr years shown in this table, all transactions relating to the Foreign Economic Cooperation Trust Fund, established
under Section 111* (f) of the Economic Cooperation Act of 1948
(62 Stat. 150), have been consolidated with Budget expenditures,
beginning with the March 1950 issue of the "Treasury Bulletin"
1*/
y
y
6/
93
4,702
l*,l*61»
22
20
21*
Beginning with November 1950, net investments of wholly owned Government corporations and agencies in public debt securities are excluded
from budget expenditures erne- classified separately (see "Trust
Accounts, Etc.", Table 3). Budgst Expenditures for November have been
reduced by $1,746,100, repreesntlng such nst Investments which wsre
clsnslfled during the period July through October 1950, as budget
expenditures. This adjustment is reflected also in the deficit for
November
Prior to November 1950, consists of trust funds and accounts, special
deposits (net) and net sales or redemptions of sscuritiee of Government corporations In the market. Beginning with November 1950, includes also net investments of wholly owned Government corporations
in public debt securities, which transactions previously were classified as budget expenditures (see footnote 4).
For outstanding checks and Interest coupons, and telegraphic reports
from Federal Reserve BankB; excess of receipts, or expenditures (-).
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table
Receipts by Principal Sources
!.
(In millions of dollars)
Internal revenue l/
Income and profits taxes
Fiscal year
or month
Withheld
by
employers
2/
16,091*
3'i,655
i6,09>*
19"*3.
I9UI1.
19>>5.
191.6.
19>»7.
19>»8.
19^9.
1950.
1951 (Estimated)
1952 (Estimated)
22,202
1.3,892
1*2,211
33,21*6
37,01*5
,238
508
1,1*59
U6.099
1,616
1,690
2,106
2,272
2,838
2,160
2,960
3,823
2,336
2,703
22,11*1*
32U
931*
23,1*02
5,291
1*31
3,325
1*5,1.1.1
355
3,1.91.
1.7,750
7,725
1*1,685
1*3,902
1*0,310
1*35
3A92
1*1.
2,021*
8,01*9
39,379
1*91*
U,635
1*1*,
31,171
2,381
29,1*82
2,1*77
1.1,853
1*0,307
1*22
38U
2,082
1.2,771.
19,61(1
28,263
2,883
39,1*1*9
1,1*39
1.1,311
18,189
1*23
10,073
8,301
8.3U8
8,303
3,821.
19,735
35,159
1*7,873
1*6,025
1*,97>»
8,950
8,977
600
620
1,331*
1,31*3
1.9,807
21,957
29,667
3,761*
67
61*5
3,257
3A80
U7
5W
3,1*81.
l*,l*29
362
599
701
5,1*92
1*3
3,607
5,622
398
229
238
2,31*2
37
35
67
2,5U5
186
1,957
1,032
3,655
93
3"*
701.
69
138
2,092
2,895
271*
518
301
295
ll*6
1*,776
l!>9
l*,l*0l*
711*
222
31*9
1,989
2,719
U.590
1,1.88
1,267
1,721
3,526
629
86
788
379
2,709
lUO
129
T3
2,11*8
201
316
185
66
62
1,881
2,860
U,605
2,300
3.18U
181
288
239
62
23
2,056
2,851
It, 211
1,1.11
311
18,1.61.
13 ' 20
|
16,35°
I.3I.
November.
December.
Fiscal year
10*11 to date.
70
257
1,679
2,973
3,006
>*,553
1,739
1,780
1,701
2/
1/
1,130
1,292
1,310
1,238
1,1.98
Met
receipts
19,292
21,1*93
59*»
1,1*23
. .
He funds
of
receipts
11,1*36
9,81i2
817
.
y
Appropriations
to Federal
Old-Age and
Survivors
Insurance
Trust Fund
6/
35,173
30,885
29,306
1*79
July
August
September.
GrooB
Other
receipts receipts
2J
26,262
2U.88U
77U
April.
May...
June..
Total
internal
revenue
8,393
10,289
9,392
10,013
588
1,310
1950- January..
February.
March ....
Oc tober
Miscellaneous
internal
revenue
819
2,816
51U
1,620
591
320
2,175
988
5,798
59,976
38
do
39
52
hi
1,969
3,057
1,028
1,768
3,635
20l*
737
31*0
91*8
312
775
l*,722
808
2,099
2,997
57
1*,302
%
3,lo3
186
310
375
ll*l*
1,105
5"<
133
117
12,61.0
1,727
1*,779
19,11*6
303
736
1,91.0
6,81*1
6,91*9
71*6
76I*
based on
Actual figures from Dally Treasury Statement; estimates
ource:
proposed change In employ-^
1952 Budget document, Including effect of
shown
classifications
Keceipt
ment taxes for medical care Insurance.
61,939
3,238
l*,8U2
MT>
a 1,185
573
52
1*5
1*1.,
762
1*0,027
1*0,01*3
512
55,1338,
1*1.,
3,366
2,972
U.820
2,320
therefore differ somehere are based on the Dally Treasury Statement, and
what from those In the Budget.
Footnotes at end of Table 2.
Table 2.- Expenditures by Major Classifications
(In millions of dollars)
Fiscal year
or month
Total
5./
2/
79,622
95,315
98,703
60,703
39,289
191*3.
I9I1I1.
19!*5.
19U6.
191*7.
19"*9.
1950.
1951 (Estimated).
1952 (Estimated).
tlonal
finance
and aid
7,259
12/
6,016 12/
5,211
5,339
5,750
6,1*69
6,1*67
6,878
6,517
9,666
10,865
5,820
*,913
12,312
1..1U3
7,138
3,323
1,0U6
936
1,051
29U
326
UoH
96U
1,007
998
359
1,021*
1,1U9
1,037
2,962
1*,296
3,013
2,515
3,520
1*,657
1,338
3,1T0
October...
1,1.1*6
3,102 11/
November.
1,523 P
3,71*2
December
7,517 p
19,063
Fiscal year 1951 to date.
ostliatee based on
Source: Actual figures from Dally Treasury Statement;
legislation. Ex195? Budget document, including effect of proposed
Treasury
penditure classifications shown here are based on the Dally
Budget.
Statement and therefore differ somewhat from those In ths
^
1/ For further detail, see tables under "Internal Revenue Collections .
19l»3, «" amended (2c U.S.C. 1621-1632).
8/ Under Current Tax Payment Act of
insurance,
f/ Consists of receipts for old-age Insurance, unemployment
estimate;
railroad retirement, and medical care insurance in the 1952
contriInsurance
unemployment
for details see Tables 7 and 8. Railroad
receipts".
"Other
in
butions are Included
Incluieu proceeds from sole of surplus property and from Ck>vernment.
y
l,9l!»
1*,958
1*,316
2,81*7
602
730
2,060
727
1*1,1*31
April.
May...
June..
ii/
"*,928
71,591*
March ....
1
16,812
1*7,210
3,269
Veterans
Administration
1*8,870
21,017
2,1*96
Interest
on the
public
debt 10/
1,808
2,609
3,617
U,722
75,297
89,720
93,501
1*0,167
1950- January..
February.
July
August....
September.
Intema-
11,500
12,158
12,378
33,791 12/
1*0,057 12/
19!>8.
National
defense
and related
activities
1*63
161
636
10,1*33
516
502
588
1,001*
832
885
817
571
589
18U
136
509
1*20
1*05
1,611
1*65
273
271
1*1.9
251*
13U
1*66
299
6U6
1*02
996
512
1,136
360
321
239 p
1,71*6 P
229
1*60
783
ll*2
1*69
721.
968
2,390
1*1*3
569
1/
511*
2,691
.
ii/
l*,719
of war
owned securities; also deposits resulting from renegotiation
contracts (see "Treasury Bulletin" for February 19<-3, page 5)to the
payments
sxclude
expenditures
budget
Both budget receipts and
corporations, for reTreasury principally by wholly owned Government
Treasury
(see
tirement of capital etocfc and for disposition of e.irnlngB
Bulletin" for February 19l*9, page A-2).
See Table 7.
I
5,625
5,800
"*,253
2,256
2,525
2,133
5,332
.,,,..
Miscellaneous .
Interest on refunds Is included in Table 5 under
for Medical Care
Allows for deduction of appropriation of $275 million
legislation.
proposed
under
Fund,
Insuroncs Trust
Footnotes 9 through 15 on page 3.
February 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Expenditures for National Defense and Related Activities
(In millions of dollars)
Mecal year
or month
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5«- "Other" Expenditures
(In millions of dollars)
Aid to
agriculture
28/
Fiscal year
or month
Social
security
program
Public
works
£2/22/
22/
1?"»3.
1,91k
19Mt.
19U7.
2,256
2,525
2,133
5,332
585
696
969
-203
1,226
19U8.
19«9.
1950.
6,^67
9,666
in, 865
1951 (Estimated).
1952 (Estimated).
19"»5.
vM.
1950- January..
February.
March ....
April.
May...
June..
July
August.
September.
October
November
December
FlBcal year 1951 to date
Housing
and home
finance
Direct
and vork
relief
31/
as/
-35I.
Atomic
Energy
Miscellaneous
Cntnmiealon
SJ
1,066
535
U25
313
359
690
-360
-307
-2U6
129
159
118
679
7k2
1,378
2,062
782
2,656
2,o8U
1,619
1,696
1,967
1,126
1,520
1,577
-68
-56
-270
U56
6U7
52U
2,553
3,201
U,08l
10,1.33
1,168
1,702
1,625
305
-U68
818
1,277
3Jt/
1,612
2,093
2,164
V350
12,312
6,102
3J</
1,00U
571
589
31U
123
186
102
75
125
86
108
-15
-29
832
885
817
202
10l»
-28
112
150
181
79
157
138
-2U
-*3
996
512
1,136
U2U
-113
-220
1*3
-17
1»09
159
155
65
i
5213J
66
59
62
783
72U il/
569
!*,719
98
-«5
96 137
23
16U
732
798
807
»5
157
129
223
1U6
7*
1,137
Source:
(Same as Table 2).
Footnotes 1 though 8 on page 2 and 9 through 15 on page 3.
16/ Excludes expenditures shown separate ly In Table 3, and those for
International finance and aid shown In Table U.
17/ Excludes expenditures shown separately In Table 3. Beginning 1950,
all other expenditures of the Commission and Its successor agencies
are Included in Table 5 under "Miscellaneous"
18/ Beginning March 19^8, Includes re trabursement to the Departments of
the Army and Navy for care and handling of surplus property overseas.
19/ Beginning 1950, General Services Administration expenditures for surplus property disposal and for public buildings other than construe*tion are not segregated from other expenditures by the Administration,
and therefore are not included in expenditures for these purposes in
Tables 3 and 5.
20/ After 19^7, expenditures for national defense and related activities
wore not segregated from ether expenditures of the Corporation and its
affiliates, which are Included in Tablo 5 under "Miscellaneous".
21/ Prior to 19^7, these expenditures were Included In "Other" Treasury
Department expenditures, In Table 5 under "Miscellaneous".
22/ For content before July 19^8 see "Treasury Bulletin" for September I9U8,
page I4, and February 19^8, page 7, except that beginning with I9U7,
figures have been revised to Include expenditures of the National
Advisory Committee for Aeronautics. Beginning I9U9, consists of expendlturee of that Committee, the Selective Service System, and the
Office of the Secretary of Defense except In the 1951 and 1952 eetimates. The Office of the Secretary includes retired pay for the
military services beginning September 19^9.
2"./
Total for Air Force, Army, Navy, and Cffice of the Secretary of
Defense; separate estimates not available.
2k l Excludes Bank expenditures under Economic Cooperation Act of 19^8.
21/ Beginning June 19U9, includes ths revolving fund for agricultural
commodities and raw materials for occupied areas. See also footnote 26.
26/ Includes principally relief in countries devastated by war, expenditures
under the Foreign Aid Act of I9I17 (6l Stat. 93U) and the China Aid Act
of 19l»8 (62 Stat. 158), International Children's Emergency Fund, loan
for construction and furnishing of United Nations Headquarters, and
Korean Aid. Beginning 1950, includes Department of Agriculture expenditures not previously classified In the Dally Treasury Statement as
foreign aid and relief; in this classification expenditures for govern-
157
151
129
895
27/
28 /
29/
3P./
31/
32/
1}/
3U /
*
p
-37
299
17
NO
U2
376
233
38
298
N5
kg
55
327
223
359
-2
»9
52
2U0
286
26
53
713
3*
158
3M
317
220 i3_/
2U7
2,022
mont and relief in occupied areas are not shown separately.
Includes $3,000 million for mutual assistance, military and economic,
under proposed legislation.
Department of Agriculture expenditures except those included In
Tables 3 and h and those for foreBt roads snd trails, Included in
Table 5 under "Public works"
For more detail of these expenditures, see Tables 7, 3, and 9.
Consists of expenditures for the following: public roads, except
assistance to Greece and Turkey; public buildings, consisting of
construction only, beginning 1950 (see footnote 19); and Bureau of
Community Facilities through 1950, these three categories of expenditures having been under the Federal Works Agency until it was
abolished by the act of Jun6 30, 19U9 (63 Stat. 380); Bureau of
Reclamation; Tennessee Valley Authority; river and harbor work and
flood control under the Department of the Army; and forest roads and
trails under the Deportment of Agriculture.
Prior to 1950, included
all othor Federal Worko Agency expenditures except those Included in
Table 3.
Excludes expenditures Included in Table 3; beginning September 1950,
Includes Federal National Mortgage Association and Prefabricated
Housing Loans Program, which were transferred from the Reconstruction
Finance Corporation by Reorganization Plans Nob. 22 and 23 of 1950.
Not classified separately after 19^5. For additional Information, see
"Treasury bulletin" for August l$k5, page 6.
Includes expenditures for executive departments not Included elsevhere
and for legislative and Judicial functions; Government contribution.to Government employees' retirement; aide to education, labor, finance,
commerce, industry, and transportation; Panama Canal, except defense
expenditures; and Fost Office deficiency.
Major items Included which are not represented in 1950 expenditures
are:
for defense production, $296 million in 1951 and $1,103 million
in 1952; for economic stabilization and allocations, $300 million in
1952; for civil defense, $15 million in 1951 and $330 million In
1952; for dispersal of government facilities, $6 million in 1951 and
$l6U million in 1952; for aid to elementary and secondary schools,
$290 million in 1952; and for reserves for contingencies, $U5 million
in 1951 and $175 million In 1952.
Less then $500,000.
Preliminary.
February 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Sunmary by Months and Calendar Years
(In millions of dollars)
Feb.
Calendar year
Apr.
May
July
Aug.
Sept.
Total
Wet budget receipts 1/
1932.
1933/
112
193 k.
1935.
1936.
205
197
225
1937.
1938.
1939:
19k0.
236
200
19>>1.
110
203
208
216
270
U17
595
750
109
179
221
228
33>>
lill
96k
910
682
791
1,557
313
267
309
225
30U
363
k39
19k2.
19k3.
19kk.
571
783
2,7k0
751
19">5.
3A59
19k6.
3,770
I9k7.
3,725
U.196
3,579
3,366
19W.
19k9.
1950.
9U9
2,491*
3,613
3,58U
it,
196
M58
3,381
2,972
3,538
5,202
6,532
6,661
5,501
5,3k2
5,87k
5,k35
It, 820
257
208
296
383
686
1,308
3,01*7
2,786
2,159
1,962
2,239
l,3k0
1,1.88
82
159
21k
27k
289
96
182
282
2k3
318
291.
IU9
233
282
386
21*1
25I*
1.58
285
369
36k
267
260
325
ko8
393
386
822
730
552
599
1,270
1*07
390
556
2,1*69
1,1.72
581
2,71k
2,k32
2,656
2,21*3
k,567
6,182
5,702
3,963
739
2,001
2,078
2,k35
2,182
2,297
2,32k
l,9k5
2,320
k,929
k,859
k,767
k,kOk
2,281
2,096
l,9k6
1,881
2,1.38
3>*0
2,895
2,900
527
339
1*1*1.
365
1*1*0
108
203
kl7
U95
12k
252
251
229
268
7k2
672
671
703
1,128
288
295
272
327
k37
283
3k5
357
356
558
2,511
5,kkl
5,803
k,875
k,386
599
2,02k
1,900
2,k53
59k
2,093
k,6l2
k,5k3
k,832
k,605
2,339
2,101
1,881
2,056
261
326
510
k92
659
kl>3
21.1
230
230
336
328
377
k27
51k
2,k7U
3,k31
3,792
k,333
818
668
5,7k7
5,550
k,851
5,712
513
73k
1,205
8,1*67
2,105
2,322
2,288
2,695
5,730
5,32k
k,067
k,050
16,290
3k,k83
k3,531
k3,928
38,810
2,692
k,197
2,51*0
k,011*
2,3kk
2,851
k,191
k,211
kl,010
kl.kjo
38,122
661
636
680
266
U88
59k
507
532
368
686
633
612
651
617
751
692
738
1,989
565
777
752
891
2,328
k91
967
631
888
1,890
671
835
835
1,187
2,68k
20,229
6,181.
2,7k5
5,921
7,667
7,779
6,372
2,663
7,619
8,03k
5,619
2,860
6,012
7,9k7
7,811
k,530
2,k53
6,926
7,7kk
8,327
k,962
3,605
57,751
90,17k
97,181
87,522
kl,322
2,962
2,335
3,585
2,515
2,673
3,066
3,995
3,520
2,39k
2,911
3,111
3,170
2,lk3
3,163
3,127
3,102
3,176
k,102
3,722
3,7k2
38,576
36,209
kl,71k
38,255
2,21*6
2,505
2,k79
2,860
2,1*1*0
37,831.
Budget expenditures 2/
1932.
1933.
193k.
1935.
1936.
33k
950
U57
k58
3k6
633
k90
U59
k28
607
5kl
571
1937.
1938.
1939.
19k0.
19kl.
587
513
653
677
1,133
513
U50
696
687
785
798
585
62k
1,076
1,1.82
1*95
3k7
k33
1*66
266
30I1
672
605
625
539
1*62
551
728
652
2,336
509
519
592
668
667
665
710
l.kOk
505
kl7
69k
605
1,352
l,2k8
786
88k
88k
1,591
57k
666
956
k,l*00
1*1.2
1*08
19k2.
19k3.
19kk.
19k5.
19k6.
2,680
6,728
7,737
8,lk2
k,8ll
2,652
6,358
8,012
7,127
3,3kO
3,515
7,7k6
10,kl2
9,03k
3,598
3,939
7,300
7,337
7,758
3,750
7,k75
6,879
8,927
3,37k
k,8l0
8,260
8,631
9,5kO
k,836
19k7.
19k8.
19k9.
1950.
3,019
2,800
3,205
3,323
3,731
3,239
3,086
3,651
3,269
3,k07
2,5kl
3,151
2,8k7
3,28k
2,222
3,10k
2,962
k,996
k,0l8
k,656
k,296
2,221*
2,972
2,1.96
727
U25
81*3
501
703
1,020
801
1,631
1,668
5,257
7,k99
8,01k
8,561
3,287
5,k56
7,831
8,208
3,553
3,7kl
3,k3k
3,013
Budget surplus, or deficit (-) %J
1932.
1933.
193k.
1935.
1936.
1937.
1938.
1939.
19k0.
19kl.
19k2.
19k3.
19kk.
19k5.
19k6.
19k7.
19k8.
19k9.
1950.
-222
6,91.9
k35
1.96
5,017
7,k95
6,61*6
8,539
7,635
8,220
9,151
9,61.5
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(In million, of dollars)
fiscal year
or aonth
February 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 8»- Railroad Retirement Act
Budget Receipts and Expenditures
-
(In millions of dollars)
Expenditures
Receipts
Fiscal year
or month
Excess of net
receipts, or
expenditures (-)
if
-ll.k
19>t3
19W
19V7
19>t8
19">9
1950
AdminlstratlTe
expenses
Ret
recelpte
2/
-26.3
-12.8
77.3
208.8
267.1
285.0
282.6
380.1
208.8
267.O
28U.8
281.7
380.0
220.2
265.2
311.1
29U.5
302.3
-206.5
-15.5
-31.1
557.1
563.8
550.2
557.0
563.1.
51.9.6
763.5
578.9
583.7
1.8
19W»....
19*5
Deduction:
Refunds of tales
on carriers and
their employees
Taxes on
carriers
and their
employees
Transfers to
Railroad Retirement Account
(trust account)
5.1*
21I1.8
2.5
2.3
2.6
*.3
262.7
308.8
291.9
298.5
5.0
U.U
758.5
57U.5
582.8
.9
1950- January...
February.
-36.5
.9
.9
37.lt
37.3
It.U
>t.9
.5
.5
March
123.1
t.9
123.1
123.1
*
April
Hay
-56.1
5.9
125.2
3.2
5.9
125.2
2.9
5.9
125.2
59.1
59.0
25.8
26.0
331.U
June
July
August. .
September.
.
October.
November .
December.
-2U.9
-15.5
-205.11
-77.7
9.8
133.0
.
.9
.9
25.8
10.5
126.0
10.5
126.0
25.0
2.3
9.8
2.8
9.8
133.0
133.0
Scuroe: Dally Treasury Statement.
1/ Sxcess of expenditures is covered by appropriations by Congress.
2/ Tax refunds deducted from recelpte exclude Interest on refunds, which is
Included under "Administrative expenses"
Table 9.- Railroad Unemployment Insurance
331.lt
80.5
Consists of expenditures from appropriations made specifically for
administrative expenses relating to the Railroad Retirement Act, and
Interest on refunds of taxes (sea footnote 2).
Loss than $50 ,'000.
2/
•
kai.^-1 -
Budget Receipts and Expenditures
(In millions of dollars)
Expenditures
Receipts
Fiscal year
or month
Exceas of
recelpte, or
expenditures (-
2/
Railroad
unenploy&ent
Insurance
contributions
Total
3_/
8.2
Administrative eipensee (Railroad
Unemployment
Insurance Administration Fund ) It/
19^3
19W»
19U5
19U6
19*7
2.1
-2.7
19W
1950
-.6
-5.1
-3.2
I950- January.,
February,
March....
-1.0
1.7
April....
May
June
-.It
»
,U
.it
July
.6
-.2
.5
191*9
August.
. .
September
October..
November.
December
10.3
12.1
13.2
12.9
1U.2
12.6
13.1
13.7
2.2
3.2
3.7
3.5
U.5
6.0
11.7
8.9
9.6
9.2
15.1
1U.8
12.3
5.5
5.9
6.9
9.7
9.0
5.U
llt.9
.It
.1>
.It
.1
1.1
1.1
2.1
.It
.It
-.9
.1
1.0
1.0
.3
2.1
1.8
.3
-.5
-.8
1.9
*
.5
.5
.1
.8
2.3
.It
-.U
»
-.5
2.0
.1
.5
2.U
.It
Source: Dally Treasury Statement.
Operated as Railroad Unemployment Insurance Administration Fund.
Excess of expenditures is covered by appropriations by Congress.
Through 19^8 represented 10$ of contributions under the Railroad
3_/
Unemployment Insurance Act of 1938; the remaining 90$ vaa deposited
In the Railroad Unemployment Insurance Account in the unemployment
Trust Fund. Beginning In 19lt9, represents contributions equal to
0,2$ of the taxable pay roll; and the remaining contributions are
\J
2/
Transfers to Railroad
Unemployment Insurance
Account, Unemployment
Trust Fund 5V
1.5
.It
jjj
5/
•
deposited in the Railroad Unemployment Insurance Account (lt5 U.S.C.
358 (f)). (See "Trust Accounts, etc.", Table 7).
Consists of expenditures from appropriations made specifically for
administrative expenses relating to the Railroad Unemployment
Insurance Act.
Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, I9U0 (5k Stat. 1099).
Le BB than $50,000.
Treasury Bulletin
TRUST ACCOUNTS, ETC.
Table 1.- Summary of Receipts and Expenditures of All Trust Accounts, Etc.
(In millions of dollars)
Net receipts,
or expenditure
Fiscal year
or month
Expenditures 1/
Receipts
1/
Investments 2/
Total
Other 2/
5,200
3,668
3,362
1,287
3,178
1,09k
k,568
3,9&5
k,292
7,307
6,29*
8,236
3,060
2,311
-k02
3,750
3,898
6,971
6,810
6,209
6,570
19k6
19k7
-338
-2,222
791
-52k
-1,103
19U8
19U9
1950
-29U
-U95
99
6,515
1951 (Estimated).
1952 (Estimated).
-283
k6k
7,311
8,620
3,160
4,1.35
3,17"*
U.982
7,595
8,157
2
170
-93
kl2
685
k20
-U53
-661
-797
863
1.10
1,176
1,310
515
513
April
Hay
June
-79
H>7
-53
305
673
91*
-275
96
589
659
U29
U09
38k
526
997
July
August
September.
-99
lk7
-27
327
726
957
157
268
217
362
20k
>*5
579
98k
l»92
lk8
681
379
181.
360
328 2/
29U
508
512
335
19*3
19kk
19">5
1950 -January
February.
. .
March
.
.
5,08?
7,086
7,712
6,2kk
5,71><
6,669
-17
160
October
November ....
December.
>>5
.
3,001.
l»,129
3,9511
Source: Actual figures from Dally Treasui-y Statement; estimates baaed on
1952 Budget document, Including effect of proposed legislation.
1/ To make the figures for the fiscal years 191*8 and 19^9 comparable with
those for other years shovn in this table, transactions of the Foreign
Economic Cooperation Trust Fund, established under Section 111* (f ) of
780
2/
1.0
i/
7,3l>7
the Economic Cooperation Act of 191*8 (62 Stat. 150) have been
excluded. These transactions have been consolidated with Budget
expenditures, beginning with the March 1950 issue of the "Treasury
Bulletin"
See Tables 3 and k.
Table 2.- Receipts by Principal Accounts
(In millions of dollars)
Fiscal year
or month
Total
1/
Government
Life
Insurance
Fund
Federal Old- Age
and Survivors
Insurance Trust
Fund
Railroad
Retirement
Aocount
1,218
1,395
1,399
1,567
1,508
1,280
1,289
316
905
2,127
2,351
103
1,',623
221
273
32k
312
323
l,50l>
1,313
1,173
1,281
Tko
690
1,076
Unemployment
Trust Fund
National Service
Life Insurance
Fund
191*7
3,95k
5,085
7,086
7,712
6,2kk
19>»8
6,515
19*9
1950
5,71**
,807
,92k
797
625
6,669
,367
6I.5
3,263
U.lUO
669
721
1,390
l,l*8o
699
697
lkk
398
2k0
38
1
1
110
170
21
55
56
1*
685
U20
69
It
305
673
9U1
86
27U
3Ut
60
32
1
281
91
52
53
327
726
957
U92
681
379
201
316
196
26
26
332
35
181
292
256
81
191*3
19kk
191*5
19k6
1951 (Estimated)
1952 (Estimated)
1950- January.
February .
March
.
.
.
April
May
June
July
August
September.
October
November.
December.
.
.
7,311
8,620
1.12
1,1*31*
1,386
y
58
Source:
(Same as Table 1).
1/ Excludes receipts of Foreign Economic Cooperation Trust Fund (all in
19k8); see Table 1, footnote 1.
2/ Consists of Civil Service and Foreign Service retirement funds. The
Civil Service Fund Includes tho former Alaska Railroad and Canal Zone
retirement funds, beginning September 19k9, these tvo funds having been
abolished and their assets transferred In accordance vith provisions
of Public Law l8o, 8lBt Congress, approved July 21, 19k9.
Includes Adjusted Service Certificate Fund, District of Columbia,
3_/
Government
employees *
retirement
funds 2/
90
371.
91*
501
97
13U
557
6lU
578
90
92
87
680
809
591*
Other trust
funds and
accounts
1/1/
337
351
1,038
1,666
792
1,17k
529
U03
1*07
m.
1*07
31
30
31
30
26
3
30
u
31*
202
1.8
172
k2
26
30
29
5
288
1*1
2
32
32
-2
21
k
5k
17
28
3
331*
k8
38
257
1*7
3
31*
107
kk
3
33
53
32
36
3
30
22
V
Indian tribal funds, island possessions, increment resulting frccn
reduction in the weight of tho gold dollar, and through June 1950
seigniorage on Bilver, under the Silver Purchase Act of 1?3^.
Thereafter such seigniorage la included with other seigniorage under
budgut receipts.
Total Includes $275 million for Medical Care Insurance Trust Fund
under proposed legislation.
Lees than $500,000.
February 1951
TRUST ACCOUNTS, ETC.
Table 3.- Investments by Principal Accounts
U
(In Billions of dollars; negative figures are exoeas of redemptions)
Fiscal year
or month
Treasury Bulletin
10
TRUST ACCOUNTS, ETC.
Table 5.- Federal Old-Age and Survlvore Insurance Trust Fundi/
(In millions of loilsrs)
fiscal year
OI* month
February 1951
11
TRUST ACCOUNTS, ETC.
Table 7»- Unesployaent Trust Fund
(in millions of dollars)
Receipts
State
accounts
Fiscal year
or month
Deposits
by
States
Expenditures other than inreotanenta
Railroad UnenploymBnt
Insurance Account \J
Transfsre
butions frc«
States
2/
Contri-
3/
frcan
Administration
Fund hj
Inveetments
5,935.0
1,3*9.3
1,256.0
1,009.9
1,005.3
27k.
109.
19k6
19k7
6,6lk.O
1,566.9
1,507.8
1,279.8
1,289.
19U8
19k9
1950
1,312.9
1,173.2
1,281.0
1,007.3
98U.0
1,098.8
130.6
1*51 (Estimated)
133? (Estimated)
1,389.8
l,k79.7
1,201.0
1,279.0
1U.0
15.0
109.6
169.8
21.1
36.8
169.5
13.7
.1
.1
March
2.8
*.7
217,
April.
May...
June
32.5
280.7
90.5
31.*
280. k
10.5
.7
.1
75.*
lk2,
1U7,
128.
1*1.0
123.5
July
August. .
September
35.k
287.6
16.8
35.1
287.6
9.3
*.l
93.
89.
6k,
60.0
October.
November .
December.
37.7
256.9
31.9
37.5
256.8
21.9
3.5
Inception to data 16,691.2
1U,293.8
89k .0
1936-19*3.
19kk
19>>5
1950- January...
February..
.
.
.
105.9
118.8
.ll
116.2
127.6
.1.
.U
17.
281.1;
2,2*1.
2,092.li
11.7
8.9
9.6
9.2
96.5
123.6
1*3.6
1*6.9
60.1
60.0
70.1
1,128.3
8l7.k
9.7
9.0
5.*
165.3
ISO.
.1
9.7
.2
3.1
1.5
167.I
1,1*5.
869.
858.'
1,313.
2,025.
17k.
962.
182.6
715
78.8
203,
.2
.1
3.*
71.
«
61
.1
59
107.2
80.9
6.5
72,
1,315.3
9,027.
Source:
(Same ae Table 1).
l/ Excludes Interim advance of $15 million from the Treasury and subsequent
repayment, both taking place in the fiscal year 19k0.
2/ Represents contributions under the Railroad Unemployment Insurance Act
of 1938, as amended (k5 U.S.C. 360 (a)), in excess of the amount specified
for administrative expenses. (See "Budget Receipts and Expenditures'',
Table 9.)
Represents amounts transferred from States to Railroad Unemployment In3_/
surance Account equivalent to amounts of taxes collected vlth respect to
period from January 1936 to June 1939, inclusive, from employers who come
within the purview of the Railroad Unemployment Insurance Act.
Total
In
assets
5/
k.O
1.5
5,870.0
7,307.2
7,k09.0
7,852.0
3.5
7.8
31.7
11.8
8.k
5.3
k5k.o
-lko.6
-7kk.5
8,323.0 8,298.
8,182. 8,138.3
7,k37.9 7,klk.3
18.1
kl.k
22.1
6.5
2.7
1.5
k27.k
76i.3
7,855.3 7,8k6.3
8,629.6 8,313.3
-93.8
-5.5
-196.1
7,65k.7 7,616.3
7,6k9.1 7,595.3
7,k53.0 7,kl8.3
31.8
-110.
133.5
-38.2
7,3k2.6 7,308.3
7,k76.1 7,kk5.3
7,k37.9 7,klk.3
31.6
27.9
22.1
2.7
2.9
1.5
k.2
5.2
k.5
-57.8
198.1
-k7.6
7,3&0.1 7,351.3
7,578.2 7,561.3
7,530.5 7,516.3
26.3
15.1
12.9
2.5
1.8
1.*
k.5
-23 .k
7,507.1 7,k&8.3
7,686.3
7, 70k.
7,663.
7,639.2
7,663. 7,639.2
17.0
16.5
23.1
1.9
.6
.It
.8
.k
17.2
51.7
.5
60.8
86.76/
lk6.5 5/
900.0
650.0
62.
65.
187.7
I63.2
202.2
15.7 6/
12.1
15.0
8.1
6.2
5.2
13*.
89.O
8U.3
56.7
55.1
68.1
8,k&5.6
k/
5/
6/
jj
*
k.6
k.6
k35.1 6/
IO7.2
In dislores tbursing
In
menta
offitrust
,
account cer e
account
k, 367.0
k3.2
105.9
798.1
1,227.1
1,879.0
175
Unexpended
balance
increase,
or
decrease
Transfers
Withto Balldrawals road Unemployment
by
States insurance
Account 2/
Trans fere
Assets, end of period
Set
State accounts
k,372.5
1,506.3
l,k36.5
133.9
kl9.9
197.2
-k0.9
7,663.k
k,372.5
5,878.8
7,315.3
7,kk9.1
7,869.0
.3
.3
19.01/
316.31/
V,
v
6.5
6.9
k6.9
30.5
k.3
1.6
1.1
1.1
23.1
Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, 19k0 (5k Stat. 1099).
For railroad unemployment benefits and refunds.
Includes transfers to the Railroad Unemployment Administration Fund
as follows: $9.7 million In fiscal year 19U9, $2.3 million In
September 19k9, and $.* million in January 1950, representing adjustment for over-collections due to retroactive change In tax rate
under the Railroad Unemployment Insurance Act, as amended (U5 U.S.C.
358 (a)).
Distribution of unexpended balance not available.
Less than $50,000.
Table 8.- Natlonal Service Life Insurance Fund
(in millions of dollars)
Expenditures other
than investments
Receipts
Fiscal year
or month
Premiums
and other
receipts
Transfers from
General Fund
Interest on
investments
Het Increase,
or decrease
Special
ATHJ
Assets, end of period
Total
Investments
359.1
873.2
1.999.3
2,071.2
1,22k.
359.1
1,232.3
3,231.6
5,302.8
6,527.6
351.7
1,213.
3,187.1
5,239.
6,k73.
7.k
18.9
kk.k
63.1
53.9
"•37.7
3kl.9
-1,911.5
6,965.3
7,307.2
5,395.7
6,93k.
7,287.
5,3k2.
30.6
19.6
53.6
-36.2
-273.9
5,359.5
5,085.6
5,339
20. k
5,065.
20.5
(-), in
assets
Unexpended
balance
re funds
19kl-19k3.
19kk
19k5
19k6
19k7
366.0
90k.5
2,127.k
2,351.0
l,50k.l
329.1
781.1
95k.l
8kk.7
516.6
31.5
101.2
1,116.5
1,381.*
816.7
5.k
22.2
56.7
12k.
170.9
6.9
31.k
128.2
279.8
279.3
6.9
31.k
128.2
279.8
279.3
19k8
19k9
1950
739.7
690.1
l,076.k
387.5
392.8
398.7
153.0
87.0
k72.8
199.2
210.3
205.0
301.9
3k8.1
2,987.9
301.9
3k8.1
35k.9
699.
697.3
k51.k
k76.9
88.0
66.k
160.0
15k.
735.6
971.2
735-6
971.2
55.
56.3
69,k
k0.3
3k.2
k0.5
7.5
7.6
10.5
7.6
lk.5
18.5
k79.6
817.7
917. k
30.1
30.0
30.7
1*9.6
787.7
886.7
-k2k.3
-76l.k
-8k8.0
7,295.1
6,533.7
5,685.7
7,263.2
6,510.2
5,657.2
31.9
23.5
28.5
51.8
53.5
202.
3*.3
35.2
kl.7
9.6
16.2
7.9
2.1
37*a
29. k
3**.7
12?.
98.2
30.8
28.5
9k.
-322.3
-71.9
10k.3
5,363 .k
5,291.k
5,395.7
5,325.2
5,2kk.2
5,3k2.1
38.2
k7.3
53.6
July
August
September..
29.1
kl.l
28.k
27.3
39.0
26.2
1.7
2.1
2.2
56.k
k5.3
ko.l
27.6
-27.
-k.2
-11.7
5,368.3
5, 36k .2
5,352.5
5,3k0.6
5,337.k
5,328.1
27.7
26.7
29.1
28.9
15.9
11.0
October....
November.
December
k6.6
k3.7
36.3
•3.2
38.7
30.5
3.*
k.9
5.8
k2.2
39.6
37.1
31.0
31.8
32.7
11.2
7.8
k.k
k.k
k.l
-.8
5,356.8
5,360.9
5,360.1
5,328.9
5,328.1
5,335.3
27.9
32.8
2k.
9,98k.3
k,809.3
k, 180.1
k,62k.2
1,912.1
2,712.1
5,360.1
5,360.1
5,335.3
2k.8
1951 (Estimated)..
1952 (Estimated)..
1950- January..
February.
March....
April.
May...
June..
.
.
.
Inception to date.
Source:
(Same as Table 1).
*
Less than $50,000.
6.7
15k.
.1
.1
99k.
29.
2,633.0
69.7
2k.
12
Treasury Bulletin
February 1951
13
TREASURY CASK INCOME AND OUTGO.
Table 3.- Derivation of Cash Budget Expenditures
Treasury Bulletin
1*
TREASURY CASH INCOME AND OUTGO
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
(In millions of dollars)
Fiscal year
or month
February 1951
15
GENERAL FUND OF THE TREASURY.
Table 1.- Status of the General Fund
(la «lllion» of dollars)
End of fiscal
year or month
19441
1946.
1947.
191*8.
191*9.
1950.
1950-January.
February.
March.
.
.
Bullion, coin, and
currency
Total
Deposits In Fedsral
Reserve Bank*
17 all able
In prooees
funds
of collection
10.1U9
20,775
25,119
lit, 708
3,730
150
154
150
160
1,023
761
666
558
243
232
1,038
1,44a
1,500
1,006
1,202
5,370
3,862
5,927
1,073
1,022
1,052
191
219
191
1,928
438
950
123
103
5,|*a
1,029
1,027
1,029
221
220
224
677
666
1,006
a6
236
216
191
195
5,1*89
6,438
April
May
June
M57
5,927
1,014
1,036
1,052
July
August
September.
4,864
5,501
5,932
1,054
1,041
1,051
213
October. .
November.
December.
4,537
4,586
4,724
1,009
1,043
1,052
231
188
181
5,074
207
Deposit* in
special
depositaries
Other
deposits
and
collections
643
607
Balance in
the Oeneral
Tund
7,667
18,007
22,622
12,993
962
533
507
289
305
310
4a
1,773
1,771
3,268
283
309
323
438
392
410
>»,?32
124
190
2,898
3,146
3,665
381
306
324
372
303
317
5,049
5,186
6,121
875
588
950
143
2,543
2,560
3,268
302
284
323
410
4,702
4,464
5,517
566
733
1,116
97
102
174
2,618
3,115
3,065
334
364
304
314
316
428
4,500
5,185
5,505
114
2,317
2,232
2,344
298
310
327
392
446
492
4,145
4,139
4,232
569
714
690
i>»3
99
129
Source:
Dally Treasury Statement.
1/ On account of withheld taxes and sales of Government securities.
Table 2.- Analysis of Change In Balance In the General Fund
(In millions of dollars)
Fiscal year
or month
Liabilities
470
ksi
9,507
20,169
24,698
14,238
3,308
3,470
5,517
Treasury Bulletin
16
DEBT OUTSTANDING.
Table 1.- Summary of Federal Securities
(In millions of dollars)
End of
fiscal
year or
month
Public
debt
Matured debt and debt bearing no interest
Interest -bearing debt
Total outstanding
Ouaranteed
securities
Public
debt
X
Ouaranteed
securities
Ooaran-
Public debt
International
Sank
J/
1,316
1,460
2,326
1,311
3,173
141
201
269
83
1,324
1,567
2,350
1,321
3,179
376
231
4i6
2,229
2,009
2,i4e
280
245
66
41
17
2,234
2,012
2,150
Monetary
fund
Other
1U0.796
202,626
139,1172
135,380
1,623
1946
Vj*\
269,896
258,376
269,1*22
258,286
476
90
201,059
256,766
268,578
255,197
199,5>»3
259.U5
136,696
201,003
258,682
U, 100
19"*5
1948
252,366
252,798
257,377
252,292
252,770
257,357
73
27
20
250,132
250,785
255,226
250,063
250,762
255,209
260,338
276,331
260,300
276,300
38
279, 76U
279,211*
551
278,1*51
277,912
539
1,313
1,301
238
256,892
256,395
255,747
256,865
256,368
27
27
25M93
254,869
254,406
253,506
1,997
1,962
2,218
1,008
1,008
1,270
632
21
1,999
1,965
2,220
356
2>t
254,430
253,527
24
24
255,72>»
255, 7"*0
22
20
20
253,536
251*, 200
255,226
253,516
254,183
255,209
19
18
17
2,204
2,170
2,150
2,202
2,167
2,148
310
280
265
1,270
1,270
1,270
621
617
613
255,tl6
255,779
255,403
255,764
254,968
14
15
25k, 986
18
2,141
2,112
2,250
2,138
2,110
2,247
258
235
375
1,270
1,270
1,270
610
605
602
25^,750
254,909
25U.30U
254,731
254,887
254,283
20
21
22
2,209
2,192
2,427
2,206
2,189
2,425
337
324
562
1,270
1,270
1,270
599
595
593
19>*9
1950
1951 (Estimated)
1952 (Estimated)
Debt peak
Feb. 1946
1950-Jairuary. ...
February.
.
March
April
May
June
256,370
257,377
255,718
256,350
257,357
July
August
Septenber.
257,557
257,891
257,236
257,216
October. . ..
November .
December.
256,959
257,100
256,731
256,937
257,077
256,708
.
.
"•33
31
16
257,5'tl
257,8711
18
20
22
214
24
n.a.
n.a.
256,357
268,111
4,092
1,516
409
467
255, 113
n.a.
n.a.
Source: Actual figures from Dally Treaaury Statement; estimates based
on 1952 Budget document, including effect of proposed legislation.
n.a.
n.a.
n.a.
n.a.
n.a,
n.a,
265
n.a.
n.a.
n.a.
n.a.
107
24
10
1,724
1,161
1,063
1,270
722
660
613
5
3
n.a,
n.a,
n.a.
1,063
Footnotes at end of Table 2.
(Increase, or decrease (-), In Billions of dollars)
Total outstanding
Public
debt
Guaranteed
securities
V
Interest -bearing debt
Public
debt
Guaranteed
eeeurltles
y
Matured debt and debt bearing no Interest
Public debt
International
Bank
8
1,175
1,259
2,057
935
802
Table 2.- Net Change In Federal Securities
fiscal year
or month
y
(atured)
1944
19>*3
teed
securities
Monetary
Fund
624
6
2
n.a.
n.a.
12
Februa ry 1951
17
DEBT OUTSTANDING
Table 3.-
Interest-Bearing Public Debt
(In millions of dollars)
End sf
fiscal
year or
month
Treasury Bulletin
18
DEBT OUTSTANDING
Table 5.- Interest -Bearing Securities Guaranteed by the United States Government
(In millions of dollars)
End of fiscal
year or month
^
February 1951
19
DEBT OUTSTANDING.
Table 7.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts In millions)
Total Interest-bearing securities
Amount
outstanding
End of fiscal
year or month
Public debt
and guaranteed securities 1/
191*3
19W1
191*5
191*6
19>>7
,
I9I48
,
19**9
,
1950
1950- January
Computed annual Interest rate
Computed annunl
Interest charge
Public
debt
Public debt
and guaranteed securities 1/
Public debt
Public
debt
139, 1*72
135,380
801,059
256,766
268,578
255,197
199,5l>3
256,357
268,111
255,113
11,969
5,357
5,376
5,351
250,132
250,785
255,226
250,063
250,762
255,209
5A57
5,1*55
5,606
5,613
5,606
5,613
5,620
5,607
5,575
5,619
5,606
Total
Interests
Total
bearing
public
securidebt
ties
Marketable issues
Total
2/
Bills
ll
Certificates
Motes
1.978
1.925
1.935
1.995
2.107
1.979
1.929
1.936
I.996
2.107
1.822
1.725
1.718
1.773
1.871
.380
.381
.381
.381
.382
.875
.875
.875
.875
.875
I.I65
1.281
1.20U
I.289
I.I4I48
2.182
2.236
2.200
2.182
2.236
2.200
1.91*2
1.0114
2.001
1.958
1.176
1.187
1.0U2
1.225
1.163
2.205
2.20U
2.199
1.195
1.191
2.199
1.957
1.959
1.955
1.1014
2.201*
5,571*
5,577
5,588
5,613
2.200
2.199
2.200
2.200
2.199
2.200
1.959
1.958
1.958
1.160
1.173
I.187
2,759
3,869
2,679
3,81*9
14,961
5,37"4
Treasury
bonds
Ronmarketable
Issues
Special
issues
y
Guaranteed
securities
1/
2.I49I4
2.330
2.1*08
2.379
2.31"4
2.1*17
2."*73
2.1405
2.1*36
1.968
1.335
1.321
2.307
2.307
2.567
2.593
2.I4I48
l.lilO
2.510
1.758
1.20U
1.375
1.3W*
2.309
2.313
2.322
2.623
2.629
2.569
2.588
2.596
2.589
2.210
2.68U
1.375
1.351
1.351
2.316
2.316
2.322
2.576
2.576
2.575
2.612
2.600
2.588
2.227
1.1814
1 ,182
1 .182
1.371*
1.371*
2.525
2.581
2.589
2.61.3
1.31*1*
2.57U
2.572
2.569
2.581i
1 163
2.322
2.322
2.322
1.921*
25".,893
2511,869
25U,U30
253,527
25lt,l*06
April
May
June
253,536
25U,200
255,226
253,516
255,209
5,578
5,588
5,613
July
August.
255 ,1*16
255,779
255,1*03
255,76li
25li,o68
5,613
5,626
5,585
5.618
5,626
5,585
2.200
2.200
2.191
2.200
2.200
2.191
1.959
1.960
1.938
1.191
1.209
1.252
1.125
1.125
1.125
1.325
1.325
1.311
2.322
2.322
2.336
2.567
2.561
2.562
2.588
2.586
2.602
2.315
2.793
25li,731
5,6ol4
2.201
2.201
1.299
2.2014
2 .201*
I.36I4
1.125
1.125
2.336
2.336
2.560
2.561
2.209
2.209
1.963
1.378
1.125
1.302
1.302
1.328
2.602
5,617
5,616
1.951
1.957
2.359
2.565
2.729
2,626
2.655
.
February
March
.
.
.
.
,
253,506
25I*, 183
September,
25"i,986
October .
November
December.
25"»,750
2514,909
25li,807
5,605
5,618
25U.30U
25^,283
5,6l6
2.205
Source: Dally Treasury Statement.
l/ Excludes guaranteed securities held by the Treasury.
2/ Total Includes "Other bonds"; see Table 3.
\j Treasury bills are Included In debt outstanding at face amount, but
In computing the annual Interest charge and the annual Interest rate
kj
1.125
1.139
2.599
2.600
2.21*6
2.398
2. 681*
2.751*
the discount value la used.
In computing the annual Interest charge and the wnn nal interest rate
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$.
Table 8.- Treasury Holdings of Securities Issued by Corporations and Certain Other
Business-Type Activities of the United States Government 1
'
(In millions of dollars)
End of fiscal
year or month
191*3
19W*
191*5
,
19U6
,
191*7
,
191*8
,
Total
2/
7,535
10,717
12,169
11,673
11,9!*6
191*9
2,789
6,851
1950
8,1*23
1950- January..,
7,l*6l
Commodity
Credit
Corporation
8,1*01*
8,1*70
125
337
918
920
October. .
November
December.
8,U00
362
930
8,865
8,688
.
21*14
2,693
2,711
2,775
July
August. .
September,
21
3I17
3I49
928
3,1"*"*
938
961
3,193
96I1
961*
1
1
1
3,528
3,311
2,959
966
985
985
9I4O
1
9**6
1
1,192
2,781
2,785
2,736
1,006
1,02U
1,039
Reconstruction
Adminis- Finance
tration Corporation
Public
Housing
971
91"*
96I*
8,1*23
tion
13
782
96 1*
2,801
Corpora'
tion
366
108
1,669
3,193
7,861
8,321
Corpora-
Housing
and Heme
Finance
Administrator }J
283
398
383
360
U1*0
April
May
June
Federal Home
Farm
Owners*
Mortgage Loan
212
580
1,010
737
529
516
7,619
7,797
8,1*10
ExportImport
Bank of
Washington
1,950
900
1,591
1,301
510
February .
March
.
Economic
Cooperation
Administration
91*3
952
962
968
9U2
Source: Dally Treasury Statement.
1/ The securities shown In this table vere Issued to the Treasury to finance
Government corporations and certain other business-type activities of the
Government, with the Treasury itself raising the necessary funds through
public debt operations. To avoid duplication, these securities are not
included in the guaranteed debt outstanding as shown In preceding tables.
2/ Total for the period September 191*7 through September 19**9 Includes notes
amounting to less than $1 million Issued by the Virgin Islands Company.
1/ Notes Issued under authority of Reorganization Plans Nos. 22 and 23 of
1950 transferring the Federal National Mortgage Association and the Prefabricated Housing Loans Program from the Reconstruction Finance Corporation to the Housing and Home Finance Agency, and Public Law 171, 8lst
Congress, approved July 15, 191*9. for Slum Clearance °rogram.
Rural
Secre
SecreVeterans
Electri tary of tary of Tennessee
Adminisfie at ion AgriValley
the
tration
Adminis- culture Army
Authority
1/
tration
2/
y
5,033
57
57
57
57
8,1*16
9,020
9,205
9,966
£
1
1,1*56
56
718
1,015
65
1,171
1,191
1,221
33
53
100
100
100
339
1,1.18
1,1*56
1,**56
1,231
l,26l
1,281
57
62
65
100
100
100
1*9
351.
36I4
1,1*77
1,352
1,352
1,352
98
56
81
100
100
100
146
81
91
101
100
100
100
146
3
I46
6
10
3I4I4
3U9
37*4
355
1,307
1,355
39I4
21*7
1,1*32
1,1*32
3914
316
1,1432
7./
*
1*9
1*9
1,1*12
3SI4
6/
52
1,311
1,380
1,251*
5_/
100
100
337
337
337
1,527
368
U/
51*
l,28r
1*3
1*9
1*9
1*9
1*9
1*9
146
Ul*
Notes issued under the act of June 29, I9U9 (63 Stat. 3^5), and
Public Law 171, Slst Congress, approved July 15, 19*»9, for Farmers*
Home Administration programs.
Notee issued under the act of June 29, 19^8 (62 Stat. IO98), for
Natural Fibers Revolving Fund.
Pursuant to Public Law U75, 8let Congress, approved April 20, 195C,
for direct loan program.
Notes issued by the Reconstruction Finance Corporation and outstanding in the amount of $9,3^5 million, including interest, were
canceled on June 30, 19^8, pursuant to the Government Corporations
Appropriation Act, I9U9 (62 Stat. II87).
Less than $500,000.
Treasury Bulletin
20
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended
(
}1 U.3.C.
757 b), provides that the face amount of obligations Issued
and the face amount of
under authority of that act,
obligations guaranteed as to prlnolpal and Interest by
the United States (except guaranteed obligations held by
the Secretary of the Treasury),
aggregate 8275 billion outstanding at any one time.
Obligations Issued on a discount basis, and subject to
redemption prior to maturity at the option of the owner,
are lnoluded In the statutory debt limitation at current
redemption values.
shall not exceed In the
Table 1.- Status under Limitation, December 31, 1950
(In millions of dollar*
)
Maximum amount of securities which may be outstanding at any one time, under limitations Imposed by the act
February 1951
21
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding December 31, 1950(In millions of dollars)
Year
and
month
Treasury Bulletin
22
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Searing Public Marketable Securities
Issued by the United States Government
and Outstanding December 31, 1950 lj (Continued)
(In millions of dollars)
Amount of maturities
TUed
Year
and
month
Description of security 2/
maturity
Issues
I960
Mar..
2-7/8* Bond
-
3/15/55-60
Dec.
2-3A* Bond
-
12/15/60-65
Total
1961
June.
3*
Panama Canal bond- 6/l/6l
1962
June.
2-lA* Bond
2-1/2* Bond
6/15/59-62
6/15/62-67
2-l/U* Bond
12/15/59-62
1963
June.
2-3/k* Bond
-
6/15/58-63
Dec.
2-1/2* Bond
-
12/15/63-68
.
(6U
June.
50
Date
bank reCallable Issues
stricted
classified by
Issubb
year of:
become
bank
Tlnal
eligible
First
matucall
2/
rity
Amount of maturities
Tear
and
month
Description of security 2/
Tiled
maturity
Issues
Callable issues
classified by
year of:
Tirst
call
final
maturity
Date
bank re
stricted
issues
become
bank
eligible
a/
February 1951
23
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
Treasury Bulletin
2k
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Date
February 1951
25
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
Results of exchange offers
Called or aaturlng security 1/
Disposition offers
Amount
outstanding
Date of
lasue
Description
Cash
retireBent
Exchange
security
offered
(In Billions of dollars)
7/8*
7/8*
7/8*
7/1 A8
Certificate
Certificate
Certificate
-
7AA8-F
-
7/l/kS-C
-
7AA8-H
7/1A7
8/1A7
9/1A7
Total
9/15/W /
9/15 A8.
3/15/38
-
9/15A8-A
3/15A
-
Hote
Certificate
Certificate
-
1-
10/1 /U8-B
9/15A7
-
10/lA8-J
-
10/l/k8-K
10/1/U7
11/1/U7
Total
2*
12/15A8
1AA9
•51
3,7k8
U,092
1.35*
1,1*67
6,913
Bond
-
12/15A8..
12/8/39
571
1-1/8* Hote
1-1/8* Certificate -
1/1A9-A
12/1/U7
1/1/U8
3,535
2,592
-
|
2,7k2
1,127
2,209
6,078
2-1/2* Bond
1-1/2* Noto
1*
1*
1*
10/1/1*8
I/I/U9-A
Total
6,127
2/l/k9
1-1/8* Certificate
-
2/1A9-B
2/1A8
2,189
3/1A9
1-1/8* Certificate
-
3AA9-C
3/1/W
3,553
U/1A9
1-1/8* Certificate
-
k/l/k9-D
k/l/k8
1,055
6/1A9
1-1/8* Certificate
Bond
2*
-
6/1/I19-E
-
6/15 A9..
6/1/U8
1/15 As
k,301
1,01k
1-1/8* Certificate
-
7/1A9-F
7/1A8
9/15A9
2*
Bond
-
9/15 A9..
5/15A2
1,292
10/1A9
1-lA* Certificate
-
10/1/U9-C
10/1A8
6,535
1-lA* Certificate
-
12/15/U9-H
Bond
3-1/8* Bond
2-1/2* Bond
-
12/15A9..
12/15A9..
12/15A9..
12/15A8
7/15A2
-
519
2,098
»91
1,786
•{
Total
7/1A9
12/15/U9
2*
5,315
-
12/15/3 '
12/15/36
1
Total
5,783
U.89U
1/1/50
1-lA* Certificate
-
l/l/50-A
1/1A9
5,695
2/1/50
1-lA* Certificate
-
2/1/50-B
2/1/U9
1,993
3/1/50
1-lA* Certificate
-
3A/50-C
3/1A9
2,922
Bond
2*
1-3/8* Rote
-
3/15/50
U/1/50-A
10/19A2
9/15A8
1,963
3,596
-
k/l/50-D
U/1/U9
963
-
6/1/50-E
6/1A9
7/1A9
9/15A9
5,019
3/15/50
U/l/30
Total
k/l/50
5,559
b/1/50
1-lA* Certificate
1-lA* Certificate
7/1/50
1-1/1"* Certificate -
9/15/50
Turned In for cash
by Treasury
Sate of
refundlng
or retl reBent
1-1/8* Certificate
2-1/2* Bond
Bond
2*
7A/50-F
-
o/15/50-G
9/15/50-52
9/15/50-52
-
-
5,601
V15A3
1,197
1,186
k,939
9/15/38
Total
7,322
10/1/50
1-1/8* Certificate
-
lO/l/50-H
10/1/U9
6,2k8
12/15/50
1-1/2* Bond
1-1/8* Certificate
-
12/15/50
l/l/51-A
6/1A5
2,635
5,373
Total
-
.'.
1/1/50
8,008
-
Br
chaaged
federal
Reserve
Banlcsg/
other
inTeetors
Description of new
security offered
26
Treasury Bulletin
UNITED STATES SAVINGS BONDS.
United States savings bonds were first offered for
sale in March 1935 and began to mature In Maroh I9I5.
Series A-D were sold from March 1935 t0 April 19>U.
and dollar sales by States are published at less frequent
Intervals but are shown on a monthly basis.
and d haTe been on sale since May 1, 19'U-
Series A-F sales are shown at Issue prloe and total
redemptions and amounts outstanding at ourrent redemption
values.
Series
Is shown at face value throughout.
Series E,
F,
For Information on the terms and conditions of these bonds,
see "Treasury Bulletin* Issues for December
19U-7,
page 31
and October 19^5, pages A- 1* and A-5-
In addition to the Information on savings bonds
operations which appears each month, data by denominations
Matured bonds which have been redeemed are Included In
redemptloms. Matured bonds outstanding are Included In
the Interest-bearing debt until all bonds of the series
have matured, when they are transferred to matured debt
upon which Interest has oeased.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through December 31, 1950
(Dollar amounte In millions)
Series
February \95i
27
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods
(In millions of dollars)
Accrued
discount
Period
Fiscal years:
I935-I9U2
3,9*19
l9*>3
19W
19>*5
19>*6
21*6
*>,195
92
96
103
106
92
96
103
106
107
110
101
107
110
101
68
191*7
19**8
191*9
1950
Redemptions 2/ ^/
Sales plus
accrued
discount
Sales
price
591
88
79
572
82
72
Amount outstanding
Accrued
discount
Matured
debt
19
6
Interestbearing debt
3,601*
3,608
3,625
3,585
3,365
2,968
1**3
117
309
21*2
1*82
370
393
530
812
8
25
67
113
123
172
269
615
22
7*
70
8
179
302
367
1*7
1.1
87
11*.
87
122
3,1*77
3,11*8
2,71*2
139
207
258 p
11*6
2,250
203
229
1,1*1*0
56
32
32
150
129
116
1,280
1,178
1,065
1,000
939
895
516
703
1,081
18
1*0
59
73
92
2,51*3
1,927
895
Calendar years:
1935-1*2
291
3,9**9
637
81
78
226
390
U8l
576
838
1*5
1*5
1,023
11
6
11
6
221*
U
It
9*.
19****
19*>9
100
105
107
109
108
86
1950
19*>5
191*6
19*17
191*8
21*0
9U
100
105
107
109
108
19**3
It,
1.36
631
765 P
3,603
3,616
3,638
7
U37
Months
1950- January.
February.
March. ..
129
130
168
97
98
April
May
June
3
3
77
58
19
2
2
71
5**
18
3
3
53
1*0
13
107
99
92
July
August.
September
5
5
1*
56
6k
1*2
1*
2
2
1*2
32
1*
16
11
87
81
77
850
796
759
2
2
1
2
56
50
70
1*1 p
35 P
52 p
72
69
229
710
1
2
.
October.
November
December.
Series E, F, and
U8
15 P
11* p
17 P
66*1
I»37
G-
Flscal years:
19H
66*.
191.2
19"*3
5,993
11,789
191*1*
15,1.98
127
191.5
19>*6
11*, 891
28*1
1*67
19*>8
9,612
7,208
6,235
191*9
7,11*1
1950
5,673
191.7
2
36
583
69a
826
977
661.
1
1
5,995
75
760
2,292
75
760
2,286
1*,156
6,1.08
6,337
11,82*.
15,625
15,175
10,078
7,791
6,929
7,967
6,650
661*
1
6,58*.
17,61*8
6
30,981
1*2,000
5,063
It, 597
*>,95*.
21
71
109
*.,*>53
lltlt
50,730
".,365
!»,191
"t.133
171.
5*, 333
209
56,61.1
l*,3l*2
**,13*>
1*5,670
1*8,398
Calendar years:
191*1
191*3
2,537
9,157
13,729
19"»2
19W>
16, 01*1*
19*t5
12,937
191*6
7,1.27
6,69*.
191*7
191*8
12
2,537
9,169
21*6
21*5
7*.
13,801*
1,501*
195
379
533
633
16,239
13,315
7,961
7,327
8,059
6,729
7,133
"t,61<5
1,502
3,251
5,293
5,9*U
It, 522
568
It,lt0>*
761*
3,263
5,332
6,038
191*9
7,295
5,833
1950
6,07"*
896
1,058
707
581
98
68
521*
82
805
6U9
607
1*23
7*.
1*97
1*16
78
108
1*91*
335
383
506
109
78
85
Months
1950- January. .
February.
March
April
May
June
398
July
1*17
August. .
September.
350
310
October. .
November.
December.
971
U36
.
.
Footnotes at end of table
51.1
y
y
y
77
80
118
*.,
*, 263
It,
1*,817
fc.558 P
39I1
2,52*.
lit
lit
077
11,1*1*7
2
12
39
23,71*6
97
U6.628
123
1*9,311
161*
52,801
55,267
57,583
186
259 P
36,723
Ul.,706
377
272
361
17
16
19
55,679
56,039
56,266
318
362
383
17
21
20
56,539
1*03
526
1*1*9
1*28
1*29
1*73
1*1*
21
29
56,671*
395
1.33
1*09
21*
56,637
1*0
398
Wto
1*13
1,01*8
517
659
289
380
(Continued on following page)
376
1*15
27 P
23 P
25 P
56,1*27
56,61*1
56,718
57,21*5
57,3|3
57,583
Treasury Bulletin
28
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of 6erles A-D, E, F, and G by Periods
-
(Continued)
(Dollar amounts la millions)
Psrlod
Accrued
discount
Seles 1/
Redemption 2/
Sales
pins
accrued
discount
Sales
price
Accrued
discount
Amount
outstanding
(interestbearing debt)
Percent of monthly
redemptions
to amount
outstanding
Series X
203
3,586
8,271
11,820
1
33
118
265
kjk
536
633
753
895
",553
,6,739
4,287
U.026
4,278
3,993
203
3,528
8,301*
11,938
11,818
7,173
4.824
"I659
5,032
4,887
1.1U5
l,lU5
5,989
10
70
162
10,3*
12,380
9.822
4) 466
4,085
4,224
4,208
3,668
S93
579
696
818
971
60
689
2,100
3,846
5,912
5,391
3,825
3,530
3,521
11
4,920
5,025
4,639
209
1,380
3,005
4,963
5,423
3,930
3,72s
3,443
3,912
lOJUlU
12,562
10,175
k',6&t
60
688
2,095
3,825
5,843
4,288
3.689
3,368
3,326
1
5
20
69
103
136
162
195
11
209
1,378
2,993
4,925
5,330
3,813
3,575
3,274
3,669 p
2
11
38
9
?
116
154
174
243 P
203
3,671
11,287
21,125
29,097
30,358
30,791
31,625
33,127
34,494
1.134
6,923
15,957
25,515
30,727
30,263
30,997
32,188
33,766
34,493
402
361
36U
88
63
77
490
424
440
320
224
309
305
209
292
16
15
17
33,936
34,135
34,266
.94
.66
• 90
305
307
297
69
73
98
374
380
396
275
31
?
334
259
293
315
16
20
19
34,365
34,432
34,4§4
.80
•91
.97
318
270
244
98
73
79
416
343
323
271
72
74
107
343
320
391
21(6
28U
67
435
758
802
679
407
360
301
473
231
368
3W
20
3 ?£
366
326
28
3U8
22
34,542
34,491
34,466
1.07
1.14
1.01
360
318
350
334
296
327
26 p
21 P
23 P
34,449
34,452
34,493
1.04
3
17
58
89
3
67
2
9
19
41
61
73
83
208
435
760
811
698
440
407
362
3
149
203
206
216
199
17
57
88
147
197
198
204
185
1
3
6
9
12
14
208
2
4
%
13
773
595
325
342
498
233
417
25
40
67
78
87
38
11
31
5
27
6
16
14
6
10
654
750
786
621
365
396
566
311
503
18
21
22
24
15
17
17
14
16
16
22
20
20
20
19
18
20
19 P
18 ?
21 p
24
8
6
16
14
6
11
206 p
15
15
17
5
5
185
196
211
189
16
16
11
V
V
7
35
77
104
4|
36
33
13
11
145
37
61 57
7
35
77
106
189
203
222
202
223
151
43
71
19
22
(Continued on following page)
1
1
4
7
11
12
17 P
1
1
1
1
1
1
2
2
2
2 P
1 P
2P
.92
1.01
67
499
1,242
1,996
2,6o4
2,895
3.099
3,255
3,584
3,699
207
854
1,569
2,278
2.793
2,969
3,162
3,505
3,615
3,895
3,647
3,667
3,681
•
45
.45
.48
3,687
3,692
3,699
.42
.45
.46
3,702
3,697
3,692
.55
.53
3,822
3,846
3,895
.57
•
59
.53
.49
February 1951
29
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, B, F, and G by Periods
(Dollar amounts in mllllana)
(Continued)
Treasury Bulletin
30
UNITED STATES SAVINGS BONDS.
Table 5.- Sales and Redemptions of Series E and F and G by Denominations
(In thousands of pieces)
Series F and G combined
Total, all
denominations
$10 1/
$25
$50
$100
92,086
68,686
32,083
$200 2/
$500
Fiscal years:
1941-44....
579,568
303,116
165,039
71,356
58,971
19*»5
I9U6
19*.7
19l»8
64,576
64,304
19>>9
1950
Calendar years:
1941-43
414,253
209,U8o
112,071
21*, 27!*
1*5,876
36,11*6
10,896
9,901
39**
39,1*00
335
39,150
11,1*25
11,81*1
9,223
8,505
2,095
522
1946
418,514
320,527
253,078
93,502
3,582
11,381
I*, 191
19l>7
62,571*
971*
1948
1949
1950
61,813
65,118
62,929
1*35
19>»>»
19li5
1*5,995
1U ,693
7,803
7,777
1,311
801
816
8,550
8.65U
916
917
298, 76 1*
226,213
58.5W*
172,91*8
37,773
13,757
10,099
21*, 551*
62,769
39,219
1*7,915
8,218
50,202
36,077
8,1*92
769
918
7,650
803
879
933
865
37,659
39,572
39,050
10,61*0
8,2lt6
11,826
11,660
8,688
8,253
5,218
5,15?
5,687
3,01*1
91*0
729
3,075
71"*
3,1*01*
932
1,067
5,152
3,160
3,356
3,196
9h3
1,019
967
693
3,211*
985
944
873
713
76
6U5
593
67
61
69
62
5,167
371
11*1
Months
1950- January .
February.
March. . .
April
May
June
5,1*21*
5,172
791
697
711*
July
August.
September
1*,720
3,177
3,018
October.
November
December
5,380
5,023
3,1*61
3,21*8
1,000
5,711*
3,700
1,063
660
618
686
916,191* 202,211*
152,161
.
5,253
5,035
Inception to date 1,338,05!*
21,075
928
82
66
87
72
77
7*
72
$1,000
Total, all
denominations
$25 1/
$100
$500
$1,000
$5,000
$10,000
February 1951
31
UNITED STATES SAVINGS BONDS.
Table 6.- Sales of Series E Savings Bonds by States
(In thousands of dollars at Issue price)
Total,
Inception
through
Doc. 31,
1950
Alabama.
Arizona.
Arkansas.
650, 18U
California..
Colorado.. .
Connecticut.
Georgia
Idaho.
2,996
3,1*1.6
211,1*76
1,1*01
1,291.
376,701
2,990
2,293
599, 91*2
"•81,355
1,021*, 092
27,8UI*
21,1*88
3,688
5,713
3,128
3,923
919
l*,l*26
766
3,896
1*,613
1*,532
3,019
893
3,61*7
It,
Delaware
District of Columbia.
Florida
1950
139,399
733,389
718,235
.
787
Illinois
183,316
>> ,637, 373
1*3,972
Indiana.
Iowa ....
1,592,235
1,567,617
11,707
9,521*
20,6711
920,07''
7,516
10,336
9,023
6Ut,511i
61*6,125
25lt,562
"i,530
.
.
Kentucky.
Louisiana.
Maine
3,675
1,1*36
32,251*
078
3,390
1,196
It,
Maryland
Massachusetts.
Michigan
751, 10U
1,911,777
12,063
3,115,11.2
22,31*7
3,630
8,592
17,308
Minnesota.
Mississippi.
Missouri
1,289,533
393,213
10,596
2,557
13,882
7,988
2,289
10,963
302,381
782,783
69,287
2,281
6,612
1*31
158,618
2,196,316
139,273
New York
North Carolina.
North Dakota.
Ohio
Oklahoma
Oregon
.
.
.
.
Nev Hampshire.
New Jersey
New Mexico.
.
.
,
.
South Dakota.
TenneBBee. .
Texas
.
Utah
Vermont.
Virginia.
Alaska
Canal Zone
Biwall
Puerto Pico
Virgin Islands
Other possessions.
.
Adjustment to Daily
Treasury Statement.
Total 2/.
17,706
2,819
3,717
18,1.81
2,1*32
3,1.82
II*, 690
It, 1*1*3
969
3,577
I*, 322
2,260
3,211
1,922
665
1,193
1,601
823
1,299
1,791*
20,669
3,012
it, 911
16,588
15,967
1,861
2,779
15,800
2,173
It, 312
539
3,117
2,787
3,152
2,576
2,01*8
3,631
876
1,1*25
2,011
681
1,297
885
2,082
3,770
I"*,
1,91*1
806
1.2U6
15,1*21
2,001
I*, 177
608
777
659
6U1*
3,576
3,91.2
2,91*3
3,326
605
3,333
l*,208
3,157
3,619
1*,152
2,1*58
2,1*26
3,6o6
693
31,060
2,392
316
2,539
U61*
1*1*0
ll91
1*1*7
23,6li3
21,010
21,532
20,8!t0
20,366
9,36l
9,995
6,812
1,980
3,3"*1
6,51k
5,568
3,l8o
6,597
6,318
3,1101
7,097
5,275
3,228
7,035
5,691
1*,622
2,370
2,895
"»73
2,500
529
2,929
3,
2,761t
2,788
2,520
51*1.
Hi
3,989
3,162
672
36,059
621*
2,733
606
30,301
28,81*1
9,089
11,613
11,01U
8,097
9,366
5,179
7,897
7,622
11,209
6,532
3,606
1*,161*
3,218
3,238
3,01*1*
3,126
2,568
1,086
2,905
2,555
939
216
2,769
1,572
2,709
2,196
970
2,693
2,038
827
2,330
2,231
996
2,109
2,007
916
2,969
7,906
15,235
3,872
2,1*73
3,238
9,711*
2,871
7,610
7,663
19,136
ll*,771
7.01U
15,027
2,939
7,638
15, 1*65
301
8,681
H, 550
11*, 996
15,llt3
2,823
8,506
15,098
*, 475
l,15>t
5,021*
1,11*3
1*,610
l*,5l*9
91U
7,526
6,877
7,860
1,050
6,675
1,139
6,653
1,015
3,151
306
1,036
3,100
225
1,290
2,989
503
538
10,270
530
598
11,308
606
10,1*17
11,1*53
608
579
29,570
2,212
969
33,196
2,520
979
30,555
3l>,72U
2,61*7
2,1*89
1,312
1,317
16,517
2,968
2,203
15,962
3,320
1,656
15,610
3,658
23,966
1,386
1,199
91*0
988
3A85
3,029
7,555
9,322
16,768
it,
550
20,011
6,21.1
it,
3,M
l,93"t
1,01*7
1,928
6,729
1,970
8,725
1,1*60
,ltlU
1,381
1,1*17
6,226
,21*6
.,31.5
1»,931
1,151*
2,51*0
983
3,250
1*22
371*
271*
279
291
366
220
228
781
13,682
926
603
12,988
9U5
61*1
501*
521*
11,779
12,311
737
565
10,702
656
737
13,271
952
521*
13,928
528
10,990
7,266,1*53
758,1*22
59,081
1.1,697
1*2,153
36,01*9
31,71.9
1.2,939
U,81*6
319,1*911
2,61.8
3,825
2,211
3,215
1,686
8,888
1,503
1,1*82
2,193
1,293
3,223
1,866
33,881
2,000
3,598,99!»
25,975
6,598
3,618
22,11.8
19,087
18,1*17
3,836
2,710
"*,595
15,816
2,623
2,71.7
15,385
3,671
2,262
19,771
5,262
2,770
19,156
3,219
2,619
2,616
J, 861*
16,3U8
3,202
1,989
21*,
9*1
1,276
29,561.
1,11*3
1,636
22,889
1,285
969
23,065
1,251
1,253
23,765
1,156
1,257
22,101
1,257
1,230
1,1*1*3
1,1*02
2,012
7,869
2, 068
7,699
1,1*60
1,981*
713
38,885
3,373
"1,563
1*81
96!*
21*0
1,91*2
33,970
2,122
1,850
29,066
1,655
1,683
28,881.
26,209
29,19li
1,511.
1,331*
1,1*58
1,1*8
1,792
3U3,l82
697,633
2,99"i
3,150
1,836
2,32U
2,ltl7
1,016
1,216
2,Wl
2,936
2,101*
2,111*
15,1*81*
2,598
3,215
11,855
2,030
2,708
2,287,71*9
2,587
3,833
13,632
10,01*1*
11,113
9,11*8
10,785.
7,082
7,956
1,397
2,079
8,280
21)8,1*9!*
1,290
801*
1,13".
81*9
1*88
332
312
•,793
725
308
3,930
971
295
3,983
311<
3,571*
l*,89l*
697
229
3,392
21*9
3,1*93
286
5,106
835
232
1,256
91,608
959
2U6
3,939
3,9.7
5,623
3,299
7,675
785
1*,202
I*,
91*2
1*,057
l*,906
3,71*9
3,663
2,760
6,975
683
3,503
7,091
612
2,381
6,599
681
3,071
7,755
925
2,373
6,162
2,21*1*
U.093
2,955
6,017
572
3,267
2,526
5,376
532
3,571
3,237
5,292
"1,659
5,613
5,27"*
6,176
7,081*
U,372
3,333
10,659
7,57"*
91*1
908
30,0751/
n.a.
1*0,121*
21*5
n.a.
290
1,552
n.a.
29U
862
101
n.a.
n.a.
268
909
96
260
79"*
6
1*
U
66
5
100
190
126
6
52
•665,079
1*2,569
412,897
+11*, 156
8,71".
+5,178
60,329,72!*
1*02,126
360,537
363,71*3
30l»,7l*l
307,152
*0,673
1,962
1», 393
101.
Source: Daily Treasury Statement and reports from Federal Reserve Banks.
1/ Cumulative through March 31, I9U7.
2/ Beginning with June I9U7, includes small amounts of unclassified sales
consisting of SerleB E, F, and G. These amounts are substantially
less than the sales reported as unclassified in ths Dally Treasury
n.a.
1U3
717
55
1,581.
1*77
1*63
5,699
535
n.a.
n.a.
n.a.
281
31*5
287
757
790
93
87
906
109
7
51
91
93
12
35
19*
-ll*,876
+211,71*5
+5,837
297,1*21*
317,590
269,657
2l*l*,017
733
931
127
288,37"*
.
1,510
23,356
2,922
2,815
1,176
1,825
10,907
1,132,5111
51*0,800
1,351,1*07
125,3li7
.
92"*
1,711*
6,916
1,609
10,053
1,008,071*
Washington. .
WeBt Virginia.
Wisconsin
Wyoming
2,161.
1,130
5,263
1,629
8,072
320,535
372,751
.
2,1.23
9,056
l.,588,517
.
.
2,286
1,109
1,625
Dec.
Aug.
6,768
701,581*
Pennsylvania.
Rhode Island
South Carolina.
2,380
1,272
2,055
Sept.
July
7,295
730,225
.
May
9,060
l,571,09li
Montana
Nebraska.
Nevada
11,052
Apr.
111*
+U1.,
5
n.a.
172
381
63
2
773
n.a.
257
1,120
75
8,029
806
5UI+
n.a
316
61t5
72
3
2
+19,71*6
+7,593
+33,216
271,201*
21*6,109
283,787
Statement. The greater part of that item consists of saleB for
which information is available as to the series "out not the year of
Issue. Prior to June 191*7, It was possible to distribute by aeries
all sales reported as unclassified In the Dally Treasury Statement.
Not available.
Treasury Bulletin
32
UNITED STATES SAYINGS BONDS.
Table 7.- Sales of Series F and G Savings Bonds Combined by States
(In thousands of dollars at Issue price)
Total,
Inception
through
Dec. 31,
1950
Alabama
Arizona
Arkansas
1950
Jan.
Apr.
May
July
Aug.
Sept.
Not.
198,172
60,753
Il6,k6k
1,728
386
1,269
2,726
kl5
811
930
27k
867
762
331
580
8kk
195
k05
620
312
3k3
7k3
k36
397
k29
388
kOl
687
192
226
k,215
1,331
1,332
1,515
367
281
637
208
501
l,*5k,329
223,555
510,911
13,810
2,533
5,880
12,021
1,501
5,303
8,518
1,950
2,312
6,7k2
1,163
2,598
6,153
1,301
1,728
k,051
719
l,2k0
7,015
962
l,k77
k,539
665
1,097
3,726
672
639
17,9k2
5,273
6,537
6,897
l,k67
2,139
11,109
652
5,5k3
92,050
235,399
293,007
1,317
3,559
2,1*83
628
2,kl7
3,259
515
1,308
2,137
kl7
1,038
1,580
k07
1,158
1,952
k7k
691
1,375
k53
639
1,317
U93
763
1,263
109
685
867
1,662
k,778
2,kl3
293
2,k76
2,2k5
2,717
2,671
23P.525
61,835
2,179,03'*
2,036
329
30,219
1,789
82k
19,715
1,092
208
16,102
1,051
153
ll,5kk
2,029
72
10,396
732
U52
8,8kl
8k6
708
11,120
762
156
7,k7k
675
kO
7,3kk
1,866
1,001
32,917
1,50k
265
17,896
1,035
l,2k0
15,575
Indiana
Iova
Kansas
650,886
7k2,757
332,598
9,519
9,676
3,606
k,8l9
5,378
3,933
k,993
6,593
2,5k3
3,292
k,l62
1,702
3,20k
3,9k2
l,k07
3,096
3,226
1,096
3,713
k,700
1,32k
2,690
2,525
1,37k
2,291
2,317
1,318
9,169
5,2k3
1,902
2,883
3,23k
1,159
5,360
5,kS0
1,338
Kentucky
Louisiana
Maine
336,689
2kk,590
153,988
3,96k
l,k20
2,9kO
1,079
628
1,692
1,173
63k
1,809
l,k05
739
1,223
798
57k
l,k78
1,180
575
1,090
l,72l>
2,3k7
l.lkk
1,382
k22
1,368
516
180
k,290
k,335
2,6kk
816
781
252
1,382
2,572
320
387,323
1,312,526
773,902
»,176
17,716
10,771
3,166
16,169
k,8k3
l,9k5
7,630
k,299
1,277
5,065
3,k3k
1,587
6,059
3,321
792
k,8kl
3,839
782
3.318
3,55k
1,197
3,lk7
2,121
1,151
2,27k
2,3k9
k,k08
26,21*5
3,290
9,k66
7,k33
1,521
6,k8l
5,675
Minnesota
Mississippi
Missouri
555,251
131,192
730,2k6
6,980
1,122
8,559
k,675
720
5,k90
k,227
385
5,k9k
3,008
2,25k
507
3,2kl
2,215
786
3>07
1,768
2k5
2,836
1,628
k27
2,57k
6,009
2,381
1,336
3,38k
6,83k
512
3,772
2,8k 5
700
3,k70
Montana
Nebraska
Nevada
9k,lk5
1,190
k,86l
7k3
1,797
108
328
1,173
117
k65
l,k93
50
1,389
58
1,199
ll,3k9
756
3,010
122
160
l,k25
2,569
268
627
1,888
80
166
26,212
kk2
k,339
561
503
3>»5,957
32
52
872
1,152
3,311
123
New Hampshire
New Jersey
New Mexico
103,626
816,585
50,195
1,127
10,170
532
630
5,189
2k5
1,061
k,908
296
38k
3,5kk
112
531
3,813
35k
222
3,125
382
237
3,lk2
lk5
272
2,k7k
225
253
2,312
153
1,598
9,009
157
289
2,282
kio
2k8
2,751
596
New York
North Carolina
North Dakota
k, 381,735
6l,U39
2,692
1,270
kO,575
1,776
386
29,k71
1,327
630
16,806
9k6
k32
17,920
l,3k2
k2 3
12,k28
766
10,793
9,575
521
353
12,168
879
k63
113,067
1,263
1,018
22,kT2
1,202
kk6
36,675
1,861
1,97k
Ohio
Oklahoma
Oregon
l,>46l,015
20,089
3,922
2,250
8,619
1,656
1,300
8,385
l,k82
1,132
6,018
731
1,055
6,280
5,635
569
580
k,572
619
k27
k,8k7
560
5k6
Ik, 78k
882
1,09k
k,580
887
919
3,999
6,937
6,252
l,lk0
1,01k
9,2k2
1,730
l,0k7
Penneylvania
Rhode Island
South Carolina
2,050, 55k
193,280
136,095
26,kkl
12,630
2,193
327
11,101
1,097
5k9
8,315
5k6
k32
10,kk8
631
352
7,276
67k
891
8,205
6k9
k6k
6,338
569
260
6,3k3
290
330
15,990
2,k99
1,812
7,591
1,253
502
9,306
1,097
lin,0Uo
600
k97
k90
9k0
2,015
k51
936
l,8k2
k63
3,357
8,882
638
2,&k6
3,695
605
2,k63
k,55k
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Idaho
Illinois
Maryland
Massachusetts
Michigan
28k, 379
110, Sk8
207,670
213, k02
1,61.1
866
638
260
35k
12,771
7,252
52k
South Dakota
Tennessee
Texas
263,1176
70U,!i35
1,09k
2,819
8,072
836
2,115
5,033
569
l,3k2
3,k67
983
3,089
766
8kk
3,568
J, 00k
2,882
556
1,106
2,875
Utah
Vermont
Virginia
57,078
56,877
330,888
5k5
k62
2,963
kl5
»51
2,109
265
302
1,293
29k
218
976
189
253
1,366
157
70
798
111
263
1,087
15k
138
773
139
59
718
l,kkl
253
1,800
791
1,120
Washington
West Virginia
Wisconsin
Wyoming
373,637
3,015
2,090
8,88k
356
3,661
89k
1,830
613
5,k82
202
l,2kl
k52
3,260
290
l,k67
&91
3,066
26k
l,lk3
599
3,153
177
671
kk6
3,680
1,296
631
2,229
257
739
k,7&9
368
2,792
299
7,895
1,563
7,356
201
5,138
37k
k,876
69
1U5/90
709,266
Ul.,666
Alaska ..............
Canal Zona
Hawaii
Puerto Hico
Virgin Islands
Other possessions.
7,365
69,633
11., 132
Bkk
980
Commercial banks 2/.
1,767,101
Adjustment to Dally
Treasury Statement
+k2,9k0
-9,802
+lk,719
-668
27,399,089
30k, 729
220, k83
160,737
.
Total ll
5,3"*9
1/
n.a.
7
kl8
31
n.a.
10
130
76
n.a.
21
121
n.a.
Ik
252
21
82
7
n.a.
16
119
23
+6,682
-7,986
+10,057
117,795
108, U33
100,152
113
n.a.
11
92
n.a.
8
23k
33k
n.a.
28
210
173
n.a.
19
1,396
99,565
k03
5,kl9
572
1,702
510
372
1,109
8,632
1,811
6,618
161
n.a.
k
173
kOl
k5
3
+261
172
+3,753
80,691
326,613
52,038
66,675
-k,605
-11,895
-k,65k
+5,996
65,899
700,133]/ 190,133k/ 257,59k k/
_U
Sourco: Daily Treasury 3tateme.it and reports from Federal Reserve Banks.
1/ Cumulative through March 31, 19k7.
2/ State figures exclude purchaser by commercial banks, which were permitted within certain limitations concurrently with the last five
war loans and In 19k8 and 1950. For details of theee offerings, see
"Treasury Bulletin" for March and July-August 19kk, January and
Aiwuet 19k5, February 19k6, and September 1950, and annual reports
U/
t
n.a.
•
of the Secretary of the Treasury for 19^S 19^5, 19**6, and.191.8.
See Table 6, footnote 2.
Includes Bales resulting from special offering to institutional Investors In excess of regular limitations (see Table 3, footnote U).
Rot available.
Leoe than $500.
February 1951
33
TREASURY SAVINGS NOTES.
Treasury savings notes (originally designated tax
savings notes) have been Issued In four series:
from August
August
19^1,
1,
1941,
1,
September
ll*,
Series A
through June 22, 1943; Series B from
through September 12, 19^2; Series C from
19^2,
through August 31, 194g; and Series D
on continuous sale beginning September
1,
19^8.
and months,
pages
11-2
and
see "Treasury Bulletin" for February I9U6,
'+3.
Details
concerning terms and conditions for purchase and redemption, and Investment yields of Series D notes will be found
in the "Treasury Bulletin" for October 19^S, page A-l,
September 19^9, page A-l.
or redemption values of Series A and B, see "Annual
Report of the Secretary of the Treasury" for 19^2, pages
207 and 220, and for sales and redemptions by fiscal years
and
Similar information concerning
Series C notes will be found In the "Treasury Bulletin" for
October 19^5, pages A-4 and A-5. For details concerning
terms and conditions, investment yields, and tax payment
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
until all notes of the series have matured, when they
Table 1.- Sumreary of Sales and Redemptions by Series, Cumulative through December 31, 1950
(In millions of dollars)
Series
are
transferred to matured debt upon which Interest has ceased.
Treasury Bulletin
3*
OWNERSHIP OF FEDERAL SECURITIES.
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)
End of
fiscal
year
or month
February 1951
35
OWNERSHIP OF FEDERAL SECURITIES,
Table 3.- Estimated Ownership of Federal Securities by Bank
and Nonbank Investors
(Par valueo l/
End of
month
-
Total
Federal
securities
outstanding 2/
Cow»rcial
boats \l
Individuals kj
Federal
Heserve
Banks
Insurance
companies
Total
1939-December.
1*7.6
18. I*
15.9
2.5
29.3
1*8.5
18.6
19.5
16.1
17.3
2.5
2.2
29.9
31.5
10.1
10.6
21.8
23.7
19.7
2.2
2.3
33.5
21.1*
11.2
13.6
191*1- June
55.3
December.
61*.
1*0.6
19U2- June
December.
77.0
112.5
28.7
26.0
>*7.3
1*1.1
2.6
6.2
19^3-Junew ....
December.
ll»0.8
59.1*
81. U
71.5
52.2
59.9
7.2
170.1
11.5
202.6
232.1
83.3
96.5
68.1*
77.7
December.
259.1
278.7
106.0
115.0
19U6-February (Peak)
June
December ....
279.8
269.9
259.5
116.7
108.2
97.9
19^7-June
December.
258.1*
91.9
70.0
257.0
91.3
19^6-March
June
September.
December.
253.1
252.7
252.9
19^9 -January.
February.
March....
252.7
252.7
251.7
Xghk-Jvcoe
December.
I9U5- June
252.1*
7.5
7.9
6.5
6.9
3.1
3.2
2.1
2.0
7.6
8.2
7.1
8.2
3.1*
2.0
U.O
8.7
10.3
9.2
11.3
3.9
1*.9
.9
l*.5
10.1
5.3
3.2
19.1
21.7
6.U
3.7
6.5
7.1
7.6
.7
.7
8.5
9.5
.7
.9
1.0
10.6
12.2
1.1
2.3
1.5
Ik.
2.1
16.9
M
.6
.7
12.9
16. I*
ll*.9
11.9.3
1*6.0
18.8
135.6
52.9
31.2
36.2
1U.8
16.7
17.3
19.6
7.3
8.3
20.0
21.U
8U.2
90.8
21.8
153.1
163.6
58.9
63.7
18.3
20.7
22.7
9.6
10.7
22.9
22.0
21*.
21*.
1*0.7
1*2.9
27.0
8.9
9.5
93.8
22.9
23.8
23.3
163.1
161.7
161.6
63.7
1*3.3
20.1*
2>*.
63.0
63.8
1*3.5
W* .2
19.5
19.7
25.1
25.2
11.1
11.5
11.8
19.9
17.7
15.3
28.0
29.1
30.9
9.1
8.8
8.3
21.9
22.6
166.5
165.7
66.0
65.3
1*5.5
1*6.2
20.5
19.1
21*.
13.9
1U.1
7.1
7.3
3M
9.8
2U.
12.1
12.0
32.8
68.7
86.0
&5.9
85.8
85.S
65.1
20.9
167.0
21.1*
166.1*
23.1*
23.3
65.1*
18.2
18.1
18.0
17.5
23.6
23.1
22.3
21.5
12.1
12.0
11.7
11.5
7.8
7.8
7.8
7.9
35.0
35.8
36.8
37.3
8.9
9.1
8.9
62.5
166.9
167.1
1*6.9
1*7.1
1*7.6
1*7.8
1**.6
.6
62.1*
65.1
65.3
65.5
8U.8
62.7
62.1
60.5
22.1
22.3
21.7
167.9
168.3
169.5
65.7
66.1
66.2
1*8.1
17.6
17.8
17.7
21.5
21.5
21.3
11.6
11.6
11.6
1U.U
7.8
7.9
7.9
37.1*
9.1*
37.5
37.7
9.2
9.6
61.8
62.7
63.O
21.1
19.7
19.3
168.7
169.5
66.3
1*8.6
U8.7
170.1*
66.6
1*8.8
17.7
17.7
1T.8
21.2
21.0
20.8
11.6
11.6
11.6
1U.3
66.1*
7.9
8.0
8.0
37.5
37.5
38.3
9.8
10.2
10.0
18.5
17.5
18.0
170.7
171.9
172.2
66.7
66.8
66.8
1*9.0
17.7
17.8
17.7
20.6
20.5
20.5
11.6
11.6
11.6
15.1*
16.0
16.0
8.0
8.1
8.0
38.5
38.9
39.**
9.9
10.1
9.9
17.3
17.7
18.9
172.2
172.6
171.5
66.6
66.5
66.2
17.5
17.3
16.9
20.5
11.5
20.1*
11.1*
9.7
10.2
11.
8.0
8.0
8.0
39.3
39.3
20.5
16.6
16.7
16.3
39.1*
9.8
17.8
17.7
17.6
171.6
172.2
173.2
66.3
66.6
66.6
16.9
17.0
16.9
20.5
20.5
20.5
11.5
11.5
11.6
16.8
8.0
8.0
39.0
1*9.7
8.1.
37.6
9.5
10.0
10.5
172.7
173.2
173.5
66.8
67.0
67.2
1*9.8
1*9.8
17.0
17.2
20.5
8.3
8.2
37.1*
17.3
17.7
18.1
18.3
37.3
1*9.9
11.6
11.6
11.6
8.1*
20.3
20.1
37.8
10.5
10.6
10.2
67.1t
67.5
67. 3r
50.0
17. Ur
17.6
17 .Ur
20.1
20.0
19.7
11.5
11.1*
18.8
19.5
11.2
19. 5r
8.3r
8.3r
8.2r
38.0
38.1
38.9
10.9
10.8
10.7
67.3
67.3
17.5
17.6
19.5
19.2
11.1
10.9
19.9
20.1
8.1
8.1
39.0
39.2
10.8
11.3
81*.
82.2
81*. 1*
7>>.5
61*
October.
November
December.
256.8
257.0
257.2
8U.6
8U.5
85.7
67.3
1950-January.
February.
March.
256.9
85.3
67.U
256.
SU.2
82.5
61*.
5_/
3.1
6.1
61*.6
66.1*
U_/
6.3
13.1
15.1
83.2
83.9
8U.5
82.1*
82.1*
66.5
66.8
66.8
66.1.
1*8.3
65.2
April.
May...
June.
255.7
256.U
83.0
55.2
17.8
83 .f
17.1*
257."*
83.9
65.8
65.6
July
August....
September
257.6
257.9
257.2
82.6
82.U
81.7
61.
.6
18.0
62.1
19.6
175.0
175.5
175.6
October. . .
November p.
257.0
257.1
81.3
81.0
62.1
61.3
19.3
19.7
175.6
176.1
61*.
18.3
18.1*
9.1
19.2
1*8.3
1*8.5
1*9.0
1*9.1
1*9.1
1*9.2
1*9.3
1*9.1*
1*9.6
1*9.9
1*9.9
1*9.8
1*9.7
6/
Beginning vith the October 1950 issue of the"Tresaury Bulletin" a new
classification of ownership figures is being presented for (1) individuals,
(2) corporations other than banks and insurance companies, and (3) miscellaneous investors. Corporate pension trust funds and those nonprofit
7/
institutions that were formerly classified with "Individuals" are now Included in "Miscellaneous investors"
United Statas savings bonds, Series A-D, E. and F, are included at current
8/
redemption values.
Securities Issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury.
Consists of commercial banks, trust companies, and stock savings banks in
Figures exthe United States and in Territories and island possess ions.
clude securltiee held in truBt departmente.
Includes partnerships and personal trust accounts. Nonprofit Institutions
and corporate pension trust funds are included binder "Miscellaneous investors",
p
Exclusivs of banks and insurance companies.
r
Note:
2/8/
11.7
12.9
253.9
255.9
256.7
3y
5>
Miscellaneous
investors
21*.
August. . .
September.
1/
3.6
State and
local
governments 6/
30.9
37.6
July
2/
2.6
Corporations 2/
98.7
82.9
255.7
Other
1.9
2.8
backs
13.1*
251.6
251.9
252.8
.
l"^"
bands
Mutual
savings
17.8
23.7
April.
May...
June.
.
Mllione of dollars)
Eeld by nonbank Investors
19U0- June
December.
50.9
in
Held by banks
21*.
13.5
13.9
1">.
11*
.6
15.1
11*.
15.1
17.2
18.1
1*.3
38. 1*
3.1*
7.1*
8.6
9.3
ConslstBof trust, sinking, and investment funds of State and local
governments and their agenclee, and Territories and island
possessions.
Holdlnge by Federal land banks are included under "Miscellaneous
investors" Instead of "U. S. Government Investment accounts" beginning with June 30, 19l*7, since the proprietary interest of the
United States in these banks ended June 26, 19l*v.
Includes savings and loan associations, nonprofit institutions,
corporate pension trust funds, dealers and brokers, and investments
of foreign balances and International accounts in this country. Beginning with December 191*6, Includes Investments by the International Bank for Reconstruction and Development and the International
Monetary Fund in special nonlntereBt- bearing notes issued by the
U. S. Government.
Preliminary
Revised.
Treasury Bulletin
36
.TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, 1950.
The Treasury Survey of Ownership covers securities
Issued by the United States Government and by Federal
The banks and Insurance companies Included
agencies.
In the Survey aocount for approximately 95 percent of
such securities held by all banks and Insurance companies
Data were first published for
In the United States.
March 31, 19^1, in the May 1941 "Treasury Bulletin".
Section
I
Information on the distribution of ownership by types
of banks and Insurance companies Is published each month.
Additional Information showing the holdings of commercial
banks distributed according to Federal Reserve member
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par valueB
Classification
-
-
bank olasses and nonmember banks Is published for June 30
and December 31.
in millions of dollars)
February t95l
37
.TREASURY SURVEY OF OWNERSHIP, NOVEMBER 30, 1950.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.
-
Interest-Bearing Public Marketable Securities by Issues
(Par values
Issue
(Tax statue
9_/
1b shovn In parentheses)
-
In trillions of dollars)
Treasury Bulletin
38
.TREASURY SURVEY OF OWNERSHIP, NOVBMHEP 30, 1950.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par values
Issue
(Tax statue 2/
*s
shown in parentheses)
-
in millions of dollars)
-
(Continued)
February 1951
39
.TREASURY SURVEY OF OWNERSHIP, NOVBfflER 30, 1950.
Section II
-
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par values
Issue
(Tax statue
9_/
Is shown In parentheses)
-
In millions of dollars)
Treasury Bulletin
ho
.
MARKET QUOTATIONS, DECEMBER 29, 1950.
the only publlo marketable Interest-bearing guaranteed
Market quotations shown here are over-the-oounter
closing quotations In the New York market for the last
trading day of the month, as reported to the Treasury by
securities outstanding.
Section II lists the publlo
marketable securities Issued by Federal agencies but
the Federal Reserve Bank of New York.
not guaranteed by the United States Government.
Hated
In Seotlon I
The securities
include all publlo marketable secu-
quotations for the securities listed In Sections
I
Dally
and II
rities Issued or guaranteed by the United States Govern-
are published monthly In the Treasury Department state-
ment except those not regularly quoted in the market.
ment,
The Issues excluded are poetal savings bonds and Federal Housing Administration debentures.
The latter are
Section
I
-
"Prices and Yields of Publlo Marketable Securities
Issued by the United States Government and by Federal
Agencies".
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
Amount
out-
February 1951
«u
.MARKET QUOTATIONS, DECEMBER 29, 1950.
Section
I
Securities Issued or Guaranteed by the United States Government
Table 3 • - Tax-Exempt Bonds
V
(Price decimals are 32nds)
Amount
outstanding
(Millions
Treasury Bulletin
M-2
,
MARKET QUOTATIONS, DECEMBER 29, 1950.
YIELDS OF
TREASURY SECURITIES.
Based on Mean
•52
PERCENT
•54
56
58
of Closing Bid
•60
'62
DEC. 29, 1950
and Ask Quotations
64
•66
68
TO
*3
February 1951
YIELDS OF TREASURY AND CORPORATE EOND3
Table 1.- Average Yielde of Long-Term Bonds by Periods
Treasury Bulletin
1+1+
YIELDS OF TREASURY AND CORPORATE BONDS
if)
Q
Z
o
CD
UJ
IT
O
Q.
OC
O
O
>cr
z>
<f)
Si
<
UJ
or
a>
llJ
s
H
O
i
(/>
Q
_l
UJ
>UJ
<
or
UJ
February 1951
*5
INTERNAL REVENUE COLLECTIONS.
Table 1.- Summary by Principal Sources
(In thousands of dollars)
Fiscal year
or month
-A/
Treasury Bulletin
i+6
_ INTERNAL REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS
Billions
1936
'38
DOLLARS
DOLLARS"
Billions
Billions
20
20
Individual
1936
'38
Income Taxes
40
'42
Estate and Gift Taxes
'44
'46
'48
'SO
*7
February 1951
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax
(In thousands of dollars)
Type of tax
Treasury Bulletin
us
INTERNAL REVENUE COLLECTIONS
Table 2.- Detail of Collections by Type of Tax-"
(In thousands of dollars)
Type of tax
-
(Continued!
February 1951
49
MONETARY STATISTICS.
Table 1.- Money in Circulation
(In millions of dollars except as noted)
Paper money
End of fiscal
year or month
Total
money in
circulation 1/
Total
paper
money
Silver
certif-
2/
icates
28,2l»5
26,9U5
52
50
28,297
26,91.2
1.8
l6,U92
27,903
191*9
27,1»93
26,1.82
26,031.
1950
27,156
25,661
26,9Ul
27,068
27,0U2
25,1.81.
57
5*
U3
Ul
25,609
1.1
25,57".
Ul
27,0U8
27,090
27,156
25,571
25,600
25,661
1.1
25,512
August. .
September.
27,010
27,120
27,l6l
October. .
November .
December p
March
April
May
June
July
.
End of fiscal
year or month
Treasury
notes
of 1890
United
States
notes
Federal
Reserve
notes
Federal
Reserve
Bank:
notes
y
21,1.38
25,51*1
19U8
.
certificates
17,U21
22,50U
26,7U6
19U3
19UU
19U5
19U6
19U7
1950- January.
February.
Gold
1.1
Ul
National
bank
notes
y
1.6U9
1,538
1,651
2,025
2,061
322
322
323
317
320
13.7U7
18,750
22,867
23,973
23,999
58U
597
527
U6U
U06
132
126
120
2, 06l
2, 06l
2,177
321
319
321
23,600
23,209
22,760
353
309
27U
99
93
86
2,023
2,06U
2,095
306
315
317
22,737
22,816
22.7U9
286
28U
283
89
88
2,121
2,179
2,177
319
322
321
22,723
22,69U
22,760
279
276
27U
87
87
86
11U
106
88
25,611.
Ul
Ul
25.6U6
uo
2,13U
2,131
2,136
316
320
318
22.66U
22,768
22,801
271
268
265
86
85
85
27,228
25,701
27,595
27,739
26,01.8
uo
uo
uo
2,111
2,132
2,128
317
318
22,885
23,212
23,362
263
260
257
8U
8U
26,185
313
k19
k
.....
,
k
5
Treasury Bulletin
50
MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts In Billions)
Gold
End of fiscal
year or month
($35 per
fine ounce)
19*>3
19kk
19k5
19k6
19"»7
19k8
19">9
1950....
1950-January. .
February
March
.
3,9k7.9
3,685.8
3,508.U
3,525.7
23,532.5
2k,U66.3
2U.230.7
3,571.0
3,618.3
3,671.5
13.2
12.9
13.2
2k, 39k.
3,6^5.8
3.6U9.2
3,652.9
13.0
13.0
13.1
3,660.1.
13.1
13.1
2l*,2U6.2
,
April
May
June
,
2k,2b6.9
2k, 231.2
2k,230.7
,
2k, 136.
,
July
September
23,li82.8
October . ...
November . *
December p.
23,2k9.k
23,036.7
22,705.6
3,f90.8
3,692.8
3,699 a
23,626.9
Source: Circulation Statement of U. S. Money; Dally Treasury Statement for
preliminary figures. For detail of silver monetary stock, see Table 1..
15. k
lk.8
11.
3,666.1
3,671.5
3,676.3
3,680.9
3,685.8
August.
16.1
15.7
"t,298.5
22,387.5
21,173.1
20,213.0
20,269.9
21,266.5
2k,3k5.1
.
Ratio of silver
to gold and
silver In
monetary stocks
(In percent)
Sllror
($1.29* per
fine ounce)
.2
13 .a
13.2
13.5
13.6
13.7
13.8
lk.o
Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)
Liabilities
End of calendar
year or month
Gold assets
Gold certificates 1/
Gold reserve
against U. S.
notes, etc. 2/
Exchange
Stabilization
Fund 3_/
1,800.0
1,800.0
1,800.0
1,800.0
Gold In
General Fund
19U3
19kk
21,937.8
20,618.8
19,821.0
19l>5
20.06I..9
17, 91k.
19l>6
20,529.0
22,753.9
I8,k30.5
21,5kk.O
156.0
156.0
156.0
156.0
156.0
19">9
2k, 21*3.9
2k, 1*27.1
1950. p
22,705.6
23,010.0
23,817.9
21,k97.6
156.0
156.0
156.0
1,077.9
1,053.2
1,052.0
1950-January. .
February .
March
2k,39k.9
2k,3k5.1
23,209.6
23,l6l.7
23,06l.O
156.0
156.0
156.0
1,029.3
l,027.k
1,029.2
2l>,2l>6.9
23,076.1.
2l>,231.2
23,039.0
23,022.9
156.0
156.0
156.0
1,036.2
1,051.8
22,1*29.8
22, 275.
156.0
156.0
156.0
1,053.7
l.Okl.O
l,051.k
22,085.0
21,837.6
21,k97.6
156.0
156.0
156.0
l,008.k
l,0k3.1
1,052.0
19&7
19U8
April
May
June
July
,
,
,
August. . .
September.
October.,..
November..
December p.
2lt,2U6.2
21»,230.7
2k, 136. 1.
23,626.9
23,1.82.8
23.2k9.lt
33,036.7
22,705.6
Source: Circulation Statement of U. S, Money; Dally Treasury Statement for
preliminary figures.
1/ Comprises (1) gold certificates held by the publlo and in Federal Reserve
Banks; and (2) gold certificate credits in (a) the gold certificate fund -
18,1*97.1.
22,936.6
2/
%/
p
160.7
165.
19k. 8
lk2. 1*
1,053.9
1,01k.
Board of Governors, Federal Reserve System, and (b) the redemption
fund - Federal Reserve notes.
Reserve against United States notes and Treasury notes of 1890.
Excludes gold in active portion of Exchange Stabilization Fund,
Preliminary.
February 1951
51
MONETARY STATISTICS.
Table 4.- Components of Silver Monetary Stock
(In millions of dollars)
Silver held In Treasury
Ena of calendar
year or month
Securing silver certificates 1/
Silver
bullion 2/
19*3
19kk
19k5
19k6
19U7
,
,
,
19k8.,
1,520.0
1,520.1
1,703.9
1,911.2
1,937.6
Silver
dollars
Silver outside
Treasury
In General Fund
Subsidiary
coin 3/
UO0.lt
llt.lt
376.5
356 .k
12.5
10.2
lk.O
13.1
337.2
Bullion for
recoinage kj
19.1
Bullion
at cost 2/
551.8
It05.6
.1
I85.6
93.1
91.1
19>»9
1,971.5
2,003.2
89. 3
9k. It
1950 P
328.1
321.9
312.8
Il.lt
2,0lt0.7
3.5
95.0
1950- January. . .
February..,
2,006.5
2,008.3
2,010.9
321.8
321.8
321.7
13.0
15.0
15.7
93.5
93.8
April......
2,013.>t
June
2,018.9
2,022.8
321.6
320.9
319.8
15.7
May
July
August
September.
2,026.7
2,029.7
2,032.8
318.8
317.5
October. .
November . .
December p,
2,036.0
2,038.9
2,OU0.7
315.8
313.8
312.8
March
.
316.
Source: Circulation Statement of U. S. Money; Dally Treasury Statement for
certain preliminary figures.
l/ Valued at $1.29+ per fine ounce.
2/ Includes silver held by certain agencies of the Federal Government (see
Daily Treasury Statement for amount). Does not include silver lendleased to foreign governments (these transactions all took place during
the fiscal years 19k2 through I9U6; see 19k6 Annual Report of the
Silver
dollars 1/
96.8
117.5
137.5
150.1
156.3
Subsidiary
coin 3/
Total
silver
at $1.29+
per fine
ounce
68U.7
k
771.6
&<6.7
901.1
928.7
3,870.6
3,512.8
3,51k.2
3,5k7.9
971.5
,207.3
165.O
171.0
179.8
982.2
,022.3
3,596.7
3,6k3.1
3,699.k
9k.
171.0
171.1
171.2
982.0
982. k
983.0
3,6k5.8
3,6k9.2
3,652.9
97.1
96.9
97.6
171.2
171.7
172.7
98k.
3,66o.lt
10. It
986.5
991.2
3,666.1
3,671.5
8.3
10.3
8.9
98.2
98.0
97.5
173.7
175.0
176.2
993.8
996.k
1,002.6
3,676.3
3,680.9
5.3
97.8
96.0
95.0
176.8
178.8
179-8
1,008.9
1,015.7
1,022.3
3,690.8
3,692.8
5.9
lit.
2A
3.5
3y
y
p
»
3,685.8
3,699.
Secretary of the Treasury for amounts )
Valued at $1.38+ per fine ounce.
Valued at $1.38+ per fine ounce or at $1.29+ per fine ounce according to whether the bullion is held for recoinage of subsidiary
silver coins or for recoinage of standard silver dollars.
Preliminary.
Less than $50,000.
Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Off Ices ±J
Treasury Bulletin
MONETARY STATISTICS
Table 6.- Seigniorage on Silver
(Cumulative frcm January 1, 1935
vnA of calendar
year or month
-
In millions of dollars)
February 1951
53
EXCHANGE STABILIZATION FUND
Table 1.- Balance Sheet as of June 30, 1050, and September 30, 1050
)
Treasury Bulletin
5*
EXCHANGE STABILIZATION FUND
Table 2.- Income and Expense
January 31 , 193*, through
June 30, 1950
Classification
January 31, 193*, through
September 30, 1950
Income:
Profits on British sterling transactions
$310,638.09
Profits on rrench franc transactions
Profits on gold bullion
(
Including profits from handling charges on gold
Profits on other gold and exchange transactions
Profits on s llrer transactions
310,638.09
351,527.60
351,527.60
»2,579,013.09
»*,«73, 305.16
1*0,000,000.00
1*0,000,000.00
102,735.27
102,735.27
Profits on sale of silver bullion to Treasury (natlonallted)
3,»73,362.29
3,»73,362.29
Profits on lnvss tzaonts
1,876,790.55
1,876,790.55
Interest on lnreetanents
7,198,066.89
7,323,577.32
861,5*6.93
861,5*6.93
Interest earned on foreign balanoee
2,817,573.61
2,8*9,683.19
Interest earned on Chinese yuan
1,975,317.07
1,975,317.07
101,5*6,571.39
103,598,U83.*7
,
Miscellaneous profits
Total Income
Exponas:
Personal aerrlces
6,3*0,336.99
6,633,527.2*
Travel
33»,6»1.51
356,lll.lU
Transportation of things
627,369.27
636,933.25
Communications
521,9*3.66
525,683.12
79,512.17
81,658.21*
Other
1,10*, 113. 73
1,11«,903.35
Total expense
9,007,917.33
9,3*8,816.3*
92,538,65*.o6
9k, 21*9,667. 13
Supplies and materials
Net Income
•
February 1951
55
CAPITAL MOVEMENTS
Data relating to claims on foreigners and liabiliand capital movements between the
United States and foreign countries, have been collected
the data for January 195".
since 19?5, pursuant to Executive Order 656O of January 15,
preceding months, data for Individual countries In some
ties to foreigners,
Attention
la
called to the
fact that although the grand total figures on the revised
reporting basis are reasonably comparable with those for
Information
covering the principal types of data and the principal
countries Is reported each month by banks and bankers and
This
securities brokers and dealers In the United States.
Instances are not comparable because of certain changes In
Information Is published regularly In the "Treasury
Is presented In three tables appearing at different times.
193
1
*,
and Treasury regulations thereunder.
Bulletin".
coverage and geographical classification.
The supplementary Information, contained In Section IV,
Supplementary Information Is published at less
Table 1 gives data by countries on short-term claims on and
All reports are made Initially to the
liabilities to foreigners as reported quarterly by exporters,
frequent Intervals.
Federal Reserve Banks, which forward consolidated figures
Importers, and Industrial and commercial concerns In the
to the Treasury.
United States. This information was published for the first
time In the October 19^9 Issue of the "Treasury Bulletin"
The term "foreigners" as used In these reports covers
all Institutions and Individuals (Including United States
citizens) domiciled outside the United States,
as well as
international organizations, wherever domiciled,
created by
treaty or convention between sovereign states.
"Short-term"
Table 2
and begins with data for September 30, 194-6.
supplies information by countries on long-term claims on
and liabilities to f orelgners as reported by banks and
bankers In the United States. This table appeared for the
first time In the December 194-9 Issue.
Data are for the
refers to original maturities of one year or less, and
end of the calendar year beginning with 1942.
A detailed
"long-term" refers to all other maturities.
discussion of the reporting coverage, basis of reporting,
gives Information on short-term liabilities to countries
and derivation of capital movements figures appeared In
This table appeared for the first time In the April 1950
Issue. The data have been requested at Irregular Intervals,
the April 195O Issue of the "Treasury Bulletin", pages 50-52.
Revised report forms and regulations became effective with
Table 3
not regularly reported separately by banks and bankers.
the earliest date being October 19^3.
Section I - Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In thousands of dollars; negative figures indicate a net outflow of capital from the United States)
Analysis of net capital movement in:
Calendar year or month
Net capital
movement
Short-term
banking funds
Brokerage
balances
Transactions
in domestic
securities
Transactions
in foreign
securities
1935-1*1
5,35**,071
3,770,922
100,370
626,731
19>*2
19**3
626,121
1,286,893
583,373
1,168,058
1*6,599
-7,361.
1161,351.
11*3,59''
19*»5
1,07k, 375
1,216,303
17,791*
27,767
210,735
-113,105
77,696
19W
3,513
13,372
8,529
19**6
-793,32k
-733,909
9,661
-11,318
-19,313
610
-33!i,203
19H
33M63
395,521*
19W
225,117
531,777
19^9
19M58
90,81*5
100,1.27
1950- January
February
March
.
.
April
May
June
July
August
September.
1/
See Table 2, footnote 1.
265,127
39,012
-91*, 832
27,800
-106,160
106,255
201,9 1*9
-69a
76,161*
60,71*2
30,701
-198
7,190
5,330
U6.282
69,195
213,381.
181,91*0
559
1*5.161*
-9,279
191,39k
219,221
136,981
91*, 060
-5,361*
35,157
78,826
21*, 620
-2,059
26,711
11U.181
October p.
November p.
93, W>
-1*6,617
238,503
-2,1*61.
91,267
11*0,869 1/
506,81*9
2,006
-308
11*2,955
25,031*
23**,595
127,985
1,051
39,315
-27,378
-279,31*7
5,71*8
21*2,015
232,1*89
.
-39,055
-192,215
75,203
855,51*8
357,619
Preliminary.
-1*6,31*1.
1*8,391*
-1,333
-53.3U1
-173,1*56
63,2W.
it, 206
....
.
Treasury Bulletin
56
CAPITAL MOVEMENTS.
Section
I
-
Historical Summary
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of period in thousands of dollars)
Short-term liabilities to foreigners
Short-term claims on foreigners
Payable
in
foreign
currenc iee
End of calendar
year or month
Payable In dollars
2li6,673
30,916
72,0li8
lk3,709
257,929
3M87
86,378
137,l6li
329,6911
511,603
105, U21
392,766
708,253
It7,li89
100,267
319,639
19*7
19k8
19k9
9*8,936
1,018,700
100,371
827,8511
110, Soli
72li,826
670,618
87,230
82,319
6*8,
72I1
81t,790
6311,806
,
April
Hay
June
July
August. . .
September
.
October p.
November p
1/
k, 205,3&9
5,37li,903
169,670
2k5,010
3,523,328
k,13k,kl2
1,356,501
Payable
In
foreign
currencies
Deposits
of
foreigners
Loans to
foreign
banks
19U2
19U3
19kk
19*5
19*6
1950- January.
February .
March
Payable In dollars
668,168
1,222,580
1,218,633
1,910,898
13,893
17,911
Net
short-term
liabilities
3,958,716
5,116,9711
21,61.1
5,267,081
25,5*6
6,1.90,302
290,li95
5,596,775
6,883,068
6,k8o,262
1,71.5,722
1.0,629
5,772,009
292,866
361,197
222,719
1190,631
7,ll6,lil9
lt,809,2li5
2,257,510
li9,661i
557,132
k9k,331
7,717,960
7,617,959
5,209,820
5,073,586
2, '•37,751
70,389
51,039
6,l67,U83
6,699,260
6,790,105
Ilk,k7k
113,115
122,018
523,122
k75,k8k
kkl,9l6
7,723,001
7,71.1', 957
7,753,76*
11,859,71.1.
12k, 298
1129,1.37
607,307
657,250
81,071
86,385
107, 17k
113,331
128,372
U07,591
7,921,785
P, 0=1, 268
8,175,271
5,052,025
5,110,129
5,293, lko
667,101
681,706
7U9,388
116,597
126,822
208,768
120,ll9lt
8,211,833
8,369,397 1/
5,232, ouo
2,92li,227
55,566
7, 5**, 732
109,755
105,765
U30.01C
kk7,219
k3k,355
5lt,809
B, 91*1,838
5,1166,155
850,7211
270, U90
U9.U19
U6o,8l5
^92,113
9,17k, 38l
3, 392,83*
5,593,510
98, 119
165,1139
237,719
llB,"k2
Il21,70li
Beginning with August 1950, data Include for the first time certain
deposit balances and other assets which had been held in specific trust
accounts but which had been previously excluded from reported liabilities.
p
k, 9116,6211
11,693,911
2,*93,33*
5,122,ll00
2,553,086
1.7,515
5,131,066
2,567,881.
2,9*1,7*2
U6,007
52,278
2,815,082
2,866,233
2,831,639
5^,679
5U,906
50,U92
7,105,01.0
7,286,980
7,li23,96l
7,518,021
3,ii03,Sofi
51,879
7,685,6011/
3,192,*50
3 '366 ',168
3^ ;lli
8,OUli,310
5,217,8991/ 3,096,689 1/
5,1.87,269
6,998,175
7,07"., 339
8,323,657
Preliminary.
Table 3.- Net Movement of Short-Term Banking Funds
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Short-term liabilities
Short-term claims
Calendar year
or month
Payable
19U2
19U3
19W.
19U5
19*6
19*7
19*9
1950- January
.
February
March
.
.
1/
-733,909
395,52k
531,777
90,8k5
k8,8lk
8,666
-271,322
59,752
Ik, 798
273,858
-3,52k
-1,508
6,271
201, 9k9
76,l6k
30,731
192,281
58,lCk
183,011
-26,660
51,151
-3k,59k
2,k01
227
-k.klk
l8l, ?k0
-61,100
92,538
5,07k
-757
-2,930
26,712
lko ,8691/
-'
506,8k9
2,306,001
105,607
620,88k
220,576
583,205
266,156
385,365
-315, *87
-50,630
-67,320
65,068
-10,U33
-219,372
26,773
-63,331
-1.5,1.85
138,1.78
-268,85k
115,38k
k00,575
-136,23k
-16k, 651
-200,136
-66,501
62,801
-kl8,k22
636,207
5oi,5kl
-100,001
23,57">
102,121.
-28,791
5,211
-2,771
1,359
-8,903
1.7,638
105,0k2
21,956
8,807
96,907
5*, 208
33,568
3,719
-2,280
10,?67
21,8k6
-1.9,91,3
-20,789
-15,01.1
-Ik, 113
168,022
109, k82
lkk,003
-9,851
-16,695
-65,592
-9,1*23
-10,225
September
-Si, 91*6
7,878
10,739
3,990
-8,306
-17.200
12,36k
36,562
157,56k 1/
572,kkl
October p.
November p
-93,168
2,150
-59,21*0
-11,1.75
32,771
677
-2£,k53
-31,298
See Table 2, footnote 1.
15,033
9,035
20,725
-19,350
k85,870
1,179,31k
220,359
1,279,375
-5, 31k
.
511,788
180, 2kl
55,583
3, 03k, 615
60,899
6,5*5
-32,506
-75,3kO
13,?18
.
3,770,922
583,373
1,168,058
lk8,59k
1,216,303
1*22,711
20,671
-Ik, 330
5,15*
funds
-37,5k2
-5,102
k,0l8
3,730
3,905
6,1.09
15,933
-3,*ti
-20,216
7,Uli
-19,01.3
Net movement of
short- term
banking
foreigners
27,1*99
July
August.
foreign
currencies
of"
307,187
21,891.
April
May
June
Deposits
Loans to
foreign
banks
736,307
97,503
-11,256
-71,765
-63,072
-2liO,683
-69,7611
190,8li6
19W
Payable
in
in
foreign
currencies
l?35-kl
Payable In dollars
Payable In dollars
12,1*79
221,153
-281, k97
Preliminary.
-lk.lklj/
268,256
102, k93
-106,2kl
55k, kl2
-3,9*7
692,265
172, 1*62 1/
307,115
L?6, 81»5
-r'0,305
-8,135
-k,951
136,981
9k, 060
127,985
-279,3*7
February 1951
57
CAPITAL MOVEMENTS
Section
I
-
Historical Summary
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(in thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Domestic stocks
Calendar year
or month
1935-
M
Sales
1.30,21*5
1/
8U1.610 1/
75.U88
Domestic bonds
Net
purchases
Total
purchases
Total
sales
Net
purchase
Purchases
Sales
396,768 1/
1.92,1.20
138,511*
25,701.
70,71.1.
513,558
377,717
170,555
268.2W.
393,390
21.5,3111
9,322,066
260,601
392,938
650, Ull
-15,673
-6l»,U6o
l»lk,l.T0
681., 213
-269,71.3
-150,585
-IW.,323
-21,218
3W.,805
283,275
330,307
333,592
61,530
282,1.15
1*30,013
-l*7,&92
652,151
781., 098
81.1.,
-1.11,365 1/
1/
-95,652 1/
8,695,335
211., 002
365,171
Net purchases
of domestic
securities
626,731
19>t5
96,383
151,639
136,853
260,223
19U6
367,61*9
19l>7
19k8
226,089
369,736
191*9
35"t,085
375,303
5">,632
1.1,729
52,386
2,21*6
-8,11.8
20,751
1>9,377
77,1.71.
17; 667
23, 0U.
5l.,1.30
55,668
59,226
-3,558
110,1.52
37,699
72.753
75,383
119,203
166,120
70,053
72,921
96,925
5,330
U6.282
69,195
April
May
June
•8,773
62,698
65,175
1.5,161.
6l,U0l>
July
August. . .
September.
51,585
51,850
1.8,680
511,667
52,265
October p.
November p
62,668
60,677
191*2
191*3
19W*
1950- January
.
.
February .
March
19l»,6l6
171,1*32
357,655
U32,109
376,67U
51"»,059
20,895
-1*2,977
-3"*,579
-97,1*32
I61t,2l8
21*1,299
3,081.
637,9".0
27,767
210,735
-113,105
782, 119
1,116,322
-331., 203
570,891*
659,91*9
366
708,895
-89,055
-192,215
75,203
1.9,095
-322
79,770
3lt,281t
U5,l*86
128,51.3
57,706
l*,992
56,31*8
26,183
83,379
83,889
3,771
117,082
30,165
75,055
119,0^
1.2,027
182,257
103,1*31
U.7,836
166,366
63,U20
26,301.
91.532
169,1.21
78,151.
91,267
17,1.21.
Il.8,9li2
215,01.6
50,159
-265
-5,987
2,106
1.0,1.92
22,928
115,685
72,091
90,651
11*2,955
25,031*
59,310
53,760
3,358
6,917
62,136
26,179
27i»,702
39,601.
35,957
235,098
335,379
85,1.89
93,361*
21*2,015
January U, 19UO, through December 31, 191.1; the breakdown betveen stocks
and bonds Is not available for earlier years.
1/
96,1*21
1*6,599
1.39,676
751,01.5
p
12U,80l*
35,157
78,826
39,315
Preliminary.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Foreign bonds
Foreign stocks
Calendar year
or month
1935-1*1
191.2
191*3
19W»
191.5
191.5
191.7
,
19W
19U9
,
1950- January
February
March
April
May
June
.
,
,
,
a.
19,791
22,078
51*, 7&9
65,21.7
65,610
57,118
81,715
88,815
1*2,558
70,788
-363
lU,56o
-15,029
18,027
12,589
13,986
13,59*
11,1*55
1,131*
8,839
13,291*
5,H*7
290
13,639
ll> ,299
15,651
18,225
12,283
16,771
96,71*1*
3,1.87
*, 523
-17,U6l
n.a.
1^,367
311., 262
318,113
n.a.
n.a.
n.a.
372,158
225,289
31.7,269
209
88,973
-29,156
7l>
,
1.,
008,188
220,5:.
W9,6l»5
-7,361*
77,696
93,1*96
355,l»l
1*2,058
-U6,6l7
821,183
715,859
293,336
556,056
676, 81.7
265,127
39,012
-91*, 832
27,800
1*90, U16
211,621
291,1*21*
321,21*3
311,1*70
-79,803
9,773
17,133
131,972
121., 1.27
-107,291.
29,722
30,861.
101,108
-W,63l.
11.5,958
-1>,693
96,982
25,193
2,016
-1,120
U.,1.32
29,886
21,828
27,362
22,601.
76,876
1.9,511.
855,51*8
391,91.9
21*7,367
63l*,289
50,31*8
3,152,61.0
31*0,863
755,936
-".,586
Net purchases
of foreign
securities
227,897
658,71*1
265,1.90
2U,1»52
Total
sales
1.10,058
388,168
382,258
-106,160
106.255
63,932
135,882
39,703
110,276
38,832
58,731
92,527
U8,lll
3 "t, 111
W»,133
-9,279
-U6,-}Ut
alt
,620
"18,391*
July
11,729
11,1*87
13,11*6
12,911
2U2
235
22,108
August. . , .
September.
-53,3lil
-17,331*
31,060
-1,575
-53,576
-156,122
79,891*
35,1*36
23,683
66,983
187,182
33,837
26,553
18,102
1.9,162
222,618
-173, '56
123,816
25,201
60,128
20.01U
63,688
5,187
1U1,U86
78,21*2
36,81*2
63,21* It
October p.
November p
P
n.a.
n.a.
n.a.
n.a.
23,278
26,601
37,328
Total
purchases
Net
purchases
Net
purchases
Not available.
Preliminary.
17,670
18, lilt
.1*1*1*
15,01*7
16,828
-981
13,1*07
1.1,01.8
35,170
-1,533
it,
206
Treasury Bulletin
58
CAPITAL MOVEMENTS
Section
Table
1.-
II
-
Summary by Countries
Net Movement of Capital and of Short-Term Banking Funds
Beginning with March 1947, includes transactions In accounts opened by
occupation authorities for foreign trade purposes.
2/
p
See Table 3, footnote 2.
Preliminary.
February 1951
59
CAPITAL MOVEMENTS
Section
II -
Summary by Countries
Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United Statee or net sales by foreigners)
Country
Treasury Bulletin
6o
CAPITAL MOVEMENTS
Section II
-
Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month In thousands of dollars)
Country
February 1951
61
CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 4.- Foreign Debit and Credit Balances in Brokerage Accounts
(Position at end of month In thousands of dollars)
Country
Treasury Bulletin
62
CAPITAL MOVEMENTS
Section III - Detail 8 for Month of September 1950
Table 1.- Short-Term Claims on Foreigners
{Position at end of month In thousands of dollars)
Country
1/
Beginning vlth March 19U7, Includes balances In accounts opened by
occupation authorities for foreign trade purposes.
February 1951
63
CAPITAL MOVEMENTS
Section III - Details for Month of September 1950
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of nonth In thousand* of dollars)
Country
Tr
reasury
6U
— CAPITAL
MOVEMENTS
Section III - Details for Month of September 1950
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
m
Bullet
February 1951
65
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1950
Table 1.- Short-Term Claims on Foreigners
(Position at end of month In thousands of dollars)
Country
l/
Beginning vlth March 191*7, Includes balances In accounts opened by
occupation authorities for foreign trade purposes.
.
66
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A
-
Preliminary Details for Month of November 1950
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of month in thousands of dollars)
Country
1/
Beginning with March I9U7, includes balances in accounts opened by
occupation authorities for foreign trade purposes
67
February 1951
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of November 1950
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thoueande of dollars)
Country
Treasury Bulletin
68
CUMULATIVE TABLE OF CONTENTS.
March 1080 through February 1061
February 1951
69
CUMULATIVE TABLE OF CONTENTS.
March 1950 through February 1951
-
(Continued)
Issue and page number
1951
1950
Apr.
May
June
July
Aug.
Sept.
Oct
United States savings bonds:
Suamary of cumulative sales and redemptions by BerleB
Sale3 and redemptions, nil series combined, by periods
by periods
Sales and redemptions of Series A-D, E, F, and
Redemptions of matured and unmatured, all series combined..
Sales and redemptions of Series E and F and G
by denominations
Sales of Series E and F and G by States
26
26
27
29
26
26
27
29
26
26
2<
26
27
29
26
26
27
27
29
29
26
26
27
29
26
26
27
29
26
26
27
29
26
26
27
29
30
Treasury savings notes:
Summary of cumulative sales and redemptions by series
Sales and redemptions of Series C and D combined by periods
30
30
30
30
30
31
31
30
30
30
30
31
32
31
31
31
32
32
33
31
32
31
33
3U
33
33
37
39
38
UO
37
39
37
39
UO
Ul
Ul
U2
UO
Ul
UO
Ul
U2
U3
UU
U3
UU
U2
U3
UU
U2
U3
UU
U7
U8
U8
U9
U6
U7
U7
U6
U7
U7
U8
U8
U9
50
U8
U9
U8
U9
Ow nership of Federal securities:
Distribution by classes of Investors and types of Issues
Net market purchases or sales for Investment accounts
handled by the Treasury
Estimated ownership by bank and nonbank investors
31
31
31
31
U
31
31
32
32
Tr easury survey of ownership:
Ownership by banks, insurance companies, and others
Owership by commercial banks classified by membership in
Federal Reserve System (latest date June 30, 1950)
33
33
33
33
36
Market quotations:
Over-the-counter closing quotations on Federal securities
by issues
•*...
Chart showing yields of Treasury securities
37
39
,
Yiel ds of Treasury and corporate bonds:
Average yields of long-term bonds by periods
Chart showing average yields of long-term bonds
uo
in
,
,
uo
u
U3
Uo
Kl
In ternal revenue collections:
U2
U3
UU
Summary by principal sources
Chart showing Internal revenue collections
Detail of collections by type of tax
U5
Monetary statistics:
••
Money in circulation.
•
Monetary stockB of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary stock
Sliver production in the United States and acquisitions by
mints and assay offices
Seigniorage on silver
Increment from reduction in weight of gold dollar
( latest date December 31,
1950)
Net Treasury gold receipts (latest quarter ending
September 30, 1950)
l>6
U6
"47
1.7
U6
U7
hi
U8
'.7
1*7
US
UP
U6
U7
U7
U8
U8
U9
U8
U9
U6
U9
1.8
U9
50
U9
53
U9
53
Exchange Stabilization Fund:
51
Balance Sheet (latest date September 30, 1950)
Income and expense (latest date September 30, 1950)
52
Capital movements between the United States and
foreign countries:
Historical summary of capital movements since 1935
Summary by countries and months
Details for latest months by countries
Outstanding contracts for forward purchases and sales of
foreign exchange
Supplementary data by countries
5U
57
61
5"
50
55
59
53
'7
50
53
57
53
56
60
50
53
57
67
63
63
65
Corporations and certain other business-type actlvl
ties (latest date June 30, 1950):
Loans outstanding
Balance sheets
Income and expense
Source and application of funds
66
67
66
67
65
68
6U
67
50
53
57
/
@FedFRASER