Full text of Treasury Bulletin : July 1957
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m liiiiili lilltiillir :;''. 1,1 .:! :.iu\].\r\\ li; oii!)i)!Hi;iiiiiii;!IUUUimiiii)ii! oof yr 2-^ LfBRARY ROOIVI JUN ?, 5030 3 1972 TREASURY DEPARTMENT )f€as. '^iBmiLEFm JULV-ia57 LIBRARY ROOM 5030 J UN 2 3 1972 ISBASUS)^ Q€mS228^ TREASURY DEPARTMENT UNITED STRTES TRinsiJRt^nFi^^^^^ DFFICE DF THE E NJ SECRETRRV The Treasury Bulletin la for sale by the Superintendent of Documents, U. 3. Government Printing Office, Washington 25, D. C. Subscription per year $5.00 domestic, $6.25 foreign. Single copy price varies. July 1957 Table of Contents Page Treasiiry financing operations A-1 Summary of Federal fiscal operations 1 Budget receipts and expenditures 2 Trust account and other transactions 6 Cash income and outgo 10 Debt outstanding and Treasurer's account l6 Statutory debt limitation 20 Debt operations 21 United States savings bonds 29 Ownership of Federal securities 33 Treasury sxirvey of ownership of Federal securities 35 Market quotations on Treasury securities 39 Average yields of long-terra bonds 42 Internal revenue collections 44- Monetary statistics 4-7 National bank reports 51 Capital movements 5^ Cumulative table of contents 63 Note: Where calculations have been made from unrounded figures, the details may not check to the totals shown. " Treasurij Bulletin II Reporting Bases The dally statement on the new basis was first issued for Data on receipts, expend Ituree, and debt which appear In the "TreaBury Bulletin" are based largely on two Treaaury financial reports, the "Dally Statement of the United States Treasury" and February 17, 195**. In the deposits and withdrawals as shown, distinction Is made as to the type of accounts (budget, no trust, the "Monthly Statement of Receipts and Expenditures of the Certain monetary statistics are based etc. at least in part on the "Circulation Statement of United States Total withdrawals are on the basis of checks paid or cash dis- United States Government." Money." Where these statements are given dividual tables, they are cited by name only. reporting bases are described below. Bulletin, as sources for in- Their respective For other data in the Inforniatlon on sources or reporting bases Is given In connection with the tables themselves. ). The deposits are on the basis of certificates of deposit cleared through the account of the Treasurer of the United States. bursements made out of the Treasurer's account. Some of the withdrawal classifications shown are reported on the basis of mailed reports of checks Issued and are adjusted by means of clearing accounts to the total of checks paid. Except for relatively minor amounts, noncash Interfund and other Intragovernmental transactions are excluded. The monthly statement of receipts and expenditures was first published for February 195^, and replaced the dally statement as the primary source of Information on budget results and other receipt and expenditure data classified by type of account. At the same time, The public debt figures In the dally statement also are on a "clearance" basis, with the exception of those Issuance and retirement transactions reported on the basis of telegrams from Federal Reserve Banks. debt transactions are Included, however. Noncash the dally statement was changed to a statement of cash deposits and withdrawals affecting the account of the Treasurer of the United States. Both publications have provided coii?)aratlve figures on their respective bases from the of the fiscal year 1953- beginning The announcement of February 17, 195^, with respect to these reporting changes may be found In the April 19514 issue of the Bulletin. The dally statement before February I7. 195^i covered not only transactions cleared through the Treasurer's account but also certain Government agency transactions which were handled through commercial bank accounts, and Included noncash Interfund and other Intragovem-nental transactions. It provided Information similar to that In the present dally statement with respect to the status of the Treasurer's account, The monthly statement shows all receipts and expenditures of the Government, Including those made from cash accounts held outside the United States Treaaury. The Information Is complied from reports by the Treasurei- of the United States and by all other collecting and disbursing agencies. Including those agencies which maintain checking accounts in cooimerclal banlte. These reports cover transactions recorded In the accounts of the agencies during the reporting period. The net of the transactions as compiled from these reports Is reconciled In the monthly statement to changes In the balance In the Treasurer's account and In cash held outside the Treasurer's account and changes In the public debt outstanding. present and similar to that in the end-of-month dally statement with respect to debt Issuance, retirement, and amount outstanding. Receipts and expenditures, however, were classified by type of account, and the budget results shown In the dally statenent were used as the basis for reflecting the results under the President's budget program as enacted by the Congress. Receipts were on the basis of deposits as they cleared the Treasurer's eiccount. Expenditures cleared tl-irough account were reported on two successive bases. the Treasurer's Through 19U6 they were on the basis of checks paid by the Treasurer of the United States. Beginning with I9U7, expenditures made through the facilities of the Treasury Departrrent's Division of Disbursement Receipts of taxes and customs duties are naported on a collections basis. Other receipts are reported partially on a collections basis and partially on a deposits basis. Expenditures, except interest on the public debt, are reported on the basis of checks Issued or cash payments made by disbursing officers. Transactions of an Interfund or Intragovernmental nature are Included on the same basis even though the actual issuance of Checks may not be Involved. Interest on the public debt Is Included on an accrual basis beginning with figures for June 1955 and the fiscal year I955. Prior to that. It was Included on a due and payable basis. The same reporting basis as that In the monthly statement provides the fiscal year figures for the Treasury's "Combined Statement of Receipts, Expenditures and Balances of the United States Government" and for actual receipts and expenditures In the "Budget of the United States Govermient. were on the basis of checks Issued, while certain others, prin- cipally those of the Department of Defense and Its predecessor organizations, were on the basis of checks paid. Transactions handled through commercial bank accounts, consisting of market transactions In public debt and guaranteed securities, were as reported by the agencies. Interest on the public debt was Included on a due and payable basis beginning with November and on a checks-paid basis prior to that time. 194^9 The circulation statement reflects transactlone through the Treasurer's account which affect monetary stocks of gold and silver and the amounts of coin and currency In the money eupply of the country. It Is Issued later than the dally statement, however, and the figures are based on transactions consummated during the reporting period even though some may not have cleared the Treasurer's account during that period. . A-l July 1957 Treasury Financing Operations provision enabled smaller Institutions and those Offering of 26')-Day Tax Anticipation Bills On June 26, 1957. as announced on June 20, the Treasury Department opened tenders for $3.0 billion, or thereabouts, of 26U-day Treasury bills, Tax Anticipation Series, to raise cash for current requirements. Dated July 3, 1957, the bills will mature March 2h, 1958. They will be accepted at face value In payment of Income and profits taxes due March 15, 195S; to the extent they are not pre- not familiar with the current movement of Treasury bill prices to assure themselves of participation for any amount they desired to acquire up to $4-00, Ooa Tenders were accepted In the amount of $3,002 million at the average rate of discount of 3. '^35 percent. Noncompetitive tenders for $4-00,000 or less In the aggregate of $371 million were accepted sented for this purpose the face amount will be In full at the average price of accepted competitive Payment for bids and are Included In the total of accepted payable without Interest at maturity. the bills by any qualified depositary was permitted by credit in Its Treasury tax and loan account for those allotted to It for Itself and Its customers up to the amount for which It was qualified In ex- tenders. cess of existing deposits. Issued In equivalent amounts of the four weekly June maturities. The first two were for $1.S To encourage wide distribution, the announcement stated, noncompetitive tenders for flOO.OOO or less without stated price from any one bidder. billion each and the last two for $1.6 billion each. 91-Day Bills Refunded New 91-day bills, totaling $6.S billion, wpre In lieu of the $200,000 limit applicable to the Average rates of discount on the new Issues were 3.374 percent for June 6; 3.256 percent for June 13; 3.4-05 percent for June 20; and 3.232 percent regular weekly bills, were accepted In full at the for June 27. average price of accepted competitive bids. Note: This Details of Treasury market financing operations are in this issue of the "Treasury etaown elsewhere Bulletin," in the tables on "Offerings," "Allot- mente," and "Disposition," reapectlTely, of marketable issues of bonds, notes, and certificates of indebtedness, and in the table "Offerings of Treasury Bills." July 1957 SUMMARY OF FEDERAL FISCAL OPERATIONS (In mlUlono of dollars) Budget z>ecelpt4 and expendltxires Het receipts 1/ riecal yeara ficpend- Itures 2/ Surplus, or deficit 2/ (-) Bet of trust accouat Clearing and other account, transetc. 4/ actions 2/3/ Net Increase in public debt, or decrease Net Increase In Treasurer's Treasurer* account balance , or account decrease (-) balance (-) Levels, end of period Debt outstanding Public debt Guaranteed securities Total Federal securities Subject to limitation 5/ : 19l>5 1*4, U75 19I16 39,771 39,786 19Jt7 19118 , 328 64,570 66,540 68,000 71,607 -4,180 1,626 -507 366 3,470 258,682 269,422 258,286 252,292 252,770 483 -214 -401 -250 -303 4,587 -2,135 3,883 6,966 5,189 2,047 1,839 -388 -2,299 2,096 5,517 7,357 6,969 4,670 6,766 257,357 255,222 259,105 266,071 271,260 20 29 -194 284 522 3,115 -1,623 6,216 6,546 274,374 272,751 1,72ft -(394 101 1,813 -370 -1'3 -2,151 -1,400 -551 331 -546 6,000 6,000 87,271 4l,080 37,955 35,623 41,106 -l*3,59l* -323 -1,386 -350 -229 -502 362 -240 199 234 3,767 -22,502 -405 1,111 471 37,728 56,337 70,682 72,997 64,854 66,129 67,216 -422 -3,358 -5,842 -9,157 -3,683 -2,771 3,779 -447 62 1,770 -1,488 603 -635 -117 k.TBl. 37,696 61,391 61., 855 195l> 61*,655 1955 1956 60,390 68,165 1957 (Ust.)... 1958 (Est.)... 70,6a8 73,620 1*3,678 19l>6 38,568 191*7 1*0,389 igUB 1.0,861. 19'»9 37,511* 1950 1951 1952 1953 37,306 52,979 61.,8to 63,81.1 61,171 63,358 1955 1956 -3,122 3,510 -4,017 -9,449 -3,117 24,698 14,238 3,308 36,1*95 1*7,568 195lt 39,617 44,058 65,408 74,274 67,772 791 -524 -1,103 -294 -495 4,529 -10,460 -10,930 1,624 -1,462 1950 1951 1952 1953 Calendar years: igkS -53,941 -20,676 57,679 10,740 -11,136 -5,994 478 1*1,1.88 V)kg 98,416 60,448 39,032 33,069 39,507 70,991* 75I* 8,419 -1,811 -2,512 2,434 5,241 -3,592 99 679 147 1*35 231 311 815 -41 101 739 -259 267 47,484 -18,966 -2,249 -4,100 1*,331 87 -423 -106 -319 -209 -34 376 -21 2,711 7,973 7,777 3,582 2,019 -4,l4l 259,115 269,898 258,376 252,366 252,798 268,671 268,932 257,491 251,542 252,028 81 257,377 255,251 259,151 266,123 271,341 256,652 254,567 258,507 265,522 270,790 44 74 274,418 272,825 273,915 272,361 270,600 269,200 120 155 270,720 269,355 270,270 268,925 26,003 3,502 3,097 4,208 4,679 278,115 259,149 256,900 252,800 257,130 567 339 81 55 30 278,682 6/ 259,487 256,981 252,854 257,160 288,559 4,232 256,708 259,419 267,391 275,168 278,750 280,769 276,628 24 1*,932 1*,295 6,064 1*,577 5,180 l*,545 4,427 1*33 476 90 73 27 46 52 42 51* 76 34 53 103 258,551* 256,127 252,057 256,413 256,731 259,461 267,445 275,244 278,784 280,822 276,731 266, 8ei 274,671 278,256 280,348 276,276 277,626 278,352 277,524 277,143 277,872 277,045 279,866 280,189 280,822 279,388 279,713 280,348 280,102 280,167 276,404 279,630 279,696 275,935 275,845 276,791 272,825 275,378 276,326 272,361 256,026 258,791* Mentha: 1955-July August... Sept«abar 2,765 5,382 6,225 -2,617 -234 237 -1,1>91 -217 5,U98 5,31*0 158 337 -74 -40 October.. Norenber. DecsDber 2,692 4,662 4,889 5,355 5,172 5,651 2,663 -213 -510 -761 33 -1 l.,684 5,274 4,950 5,399 -590 1,245 5,914 -162 5,387 5,467 6,937 1956 -January.. February 6,195 11,313 March April May Jime , 4,oaa 5,050 U,601 473 -36 -444 1T9 3,210 725 595 -1,058 -378 6,811 -833 2,341 319 632 -62 5,314 -195 -574 5,U9 -720 5,753 5,376 lt,545 279,818 280,136 280,769 42 43 48 48 53 53 53 7,072 280,049 280,108 276,345 5,712 6,259 6,546 275,789 276,729 272,751 56 62 1*,178 249 272,645 275,565 274,261 74 6,197 6,445 79 85 272,719 275,644 274,346 272,257 275,183 273,886 127 73 60 -1,293 1,504 1*,756 -33 198 -3,764 2,316 -1,305 -417 4,664 265 • 236 24 -556 -95 -304 -1,360 548 287 941 -3,978 277,584 278,309 277,476 3,252 58 59 74 July August.,., September. 3, "•85 5,542 5,902 4,918 -2,057 -948 1,300 -172 -31* -105 6,218 26 107 22 146 2,919 -1,304 October... RoTeaber., December.. 3,184 4,8lB 5,412 5,995 5,726 5,718 -2,812 -908 -307 -62 * UO -1,741 1,074 -1,350 4,704 5,778 4,427 275,283 277,017 276,628 275,372 94 103 277,U1 -920 1,022 1,734 -389 89 248 266 276,731 274,915 276,655 276,276 l',809 6,095 5,743 5,58k -1,286 -131 163 -399 40 -1,271 3,265 3,849 7,673 276,229 276,269 274,999 107 109 109 276,335 276,378 275,108 275,882 275,926 274,657 5,987 5,944 -1,731 333 70 -991 1,226 -1,162 584 3,824 -2,142 308 5,532 5,840 274,008 275,234 103 103 274,111 275.337 273,662 274.889 1957-January... February. March...., April.... May 4,951. 6,188 10,737 4,256 5,28e 1*46 116 229 5,153 -222 -662 247 -325 407 Source: Actual figures through the fiscal year 1952 and the calendar year 1953 are from the dally Treasury statement, and thereafter In each case they are fj-om the monthly statement of receipts and expenditures of the Ooremment (for explanation of reporting bases, see Page II); estimates are from the I958 Bidget document, released January l6, 1957, Including effects of proposed legislation. More detailed Information with respect to the figures on this page will be foimd In succeeding tables. 1/ Gross receipts less transfers of tax receipts to certain trust funds (see page 2), and reftmde of receipts. 2/ Transactions of the Foreign Eocnomlc Cooperation Trust Fmi, established iMder Section 114 (f) of the BconoBilc Cooperation Act of 1948 (62 Stat. 150), are consolidated with budget expenlltures. i/ Ccnslete of transactions of trust and deposit f\nds, InTestment by Goremnent agencies In public debt securities, and redemption or sale of obligations of Goremment agencies in the market; excess of receipts, or expenditures (-). For detail of content, see page 6. 4/ For checks outstanding, telegraphic reports from Federal Reserre Banks, -2,369 2,019 6/ public debt Interest accrued and unpaid beginning with June aiid the fiscal year 1955 (preTlously Included from November 19U9 as Interest checks and coupons outstanding), and deposits In transit aai cash held outside the Treasury beginning with the fiscal year 195^; net Increase, or decrease (-). 7or current month detail, see section on "Statutory Debt Limitation" In each Issue of the Bulletin. The limltatlcoe In effect during the period covered by this table and the date when each became effective are as follows: June 9, 19^**, $26o billion; April 3, 191*5, $300 billion; J\me 26, 191*6, $275 billion; Auguat 28, 195^, $281 billion; and July 1, 1956, $278 bllllan (temporary Increase ewilng on June 30, 1957). Guaranteed securities are Included uraier the limitation beginning April 3, 191*5. Savings boMls are Included at current redemption value beginning June 26, I9U6, and at maturity value prior to that time. In the debt outstanding, savings bcoda are carried at current redemption value. Immediate postwar debt peak of $279,761i znllllan waa cm Februery 28, I9U6, Less than $500,000. Treasury Bulletin .BUIGET RECEIPTS AND EXPENDITURES. Table 1.- Receipts by Principal Sources (In mllllona of dollara) July 1957 -BUDGET RECEIPTS AND EXPENDITURES. Table 2.- Expenditures by Agencies (In millions of dollars) Fiscal y«KX or month Legislative branch 1953 7'»,27't I95I1 67,772 1955 1956 6't,570 66,5liO 1957 (Ifet.)... 1958 (Est.)... 68,900 2/ 71,807 E/ 5,51^ 1956 -July August ... September October . noTember I>ecember. 1957 -January.., February,, March y 5,9<ie It, 918 . . E^ocutlTe Office of the President 109 122 Uo U It, 137 8,253 690 It It 12 li,ltU6 8,29lt 651* 5,78e 5,282 6,905 1/ 6,1.73 1/ 6,791 6,982 2/ '',381 "1,1*73 2,368 3,211 2,887 1.7 October Horember. December. . . 1957 -January... February . March .... April. May . . 1957 to date 21t3 -28 1*5 583 lilt 10 3 533 3"' 7 3 577 578 UO U08 -Uo U9 8 300 2U5 227 50 98 1.61. l>5 321 286 712 1/ 613 5lt -ItO 1.69 36 38 lIiO 323 1.9 1106 6llt 3l< -162 i.06 1.7 It 75 317 P 61 3 1 290 -lltS 1 I1I15 628 688 111 3 111 -U3 3,516 7,051 lt70 35 Health, Education, Undistributed and Welfare foreign transactions Department 813 1956 -July August . September 218 568 53 2/ 8/ 700 87 -80 11 39 500 1 1 6I.9 5,152 5,330 583 3 3 36,000 38,000 6W. 2/ 6/ 772 719 391 1,028 3 1957 (Est.)... 1958 (Est.)... 1,063 1,000 1,077 1,281 1/ 1(29 6 5lt8 3,217 2,915 It, 636 5,177 305 259 5,584 35,532 35,791 385 2/ -615 2/ 129 2/ 39 1 5,7l>3 1.3,611 1.0,336 Department 1 1 3 1953 195U 1955 1956 Connnerce Department 3 3 1 ClTll functions Agrlcultiffe 2 It Military functions 1,107 806 973 523 Housing and Home Finance Agency 11 9 8 Defense Departaent Fiscal year or month tratlon 37 8 151* Services Mnlnls- 9 9 9 10 6,095 1/ 63, General Independent offices 27 28 30 1 1 1 5,995 5,726 5,718 Funds appropriated to the President 61 59 65 85 April May 1957 to date Judiciary 1,920 1,981 1,993 2,071 605 573 Interior Department Justice Department Labor Department Poet Office Department ,361 ,831 171 300 355 183 182 659 District Interest On public debt 11 271 156 of Columbia On refunds of tajee 6,501. 7lt 798 6,382 6,370 6,787 83 62 873 312 356 216 Itl2 1.63 652 211. 1.09 1.59 18U 701. 226 1.18 58 230 7,200 7,300 185 1.3 31 62 61 55 52 21 lit 1.6 36 16 10 627 567 570 U 201. 17 16 17 71 21. lit 582 580 631 5 1.7 3 1.2 136 lltl 66 50 -17 181. 3,399 3,250 3,260 65 29 83 56 18 22 11. 35 15 1.6 28 205 177 171 1.9 -2 Ul. 16 13 -22 11 3,358 3,228 3,239 1.9 -8 39 65 20 15 17 183 39 19 17 1.8 -19 17 16 18 71. 35 38 220 212 61. 3 3,lt75 3,li20 52 72 228 39 182 52 39 18 11. -100 18 22 Itli 1.9 93 6 35,095 581 122 2,151 529 197 362 I178 158 Source: Actual figures are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see page II); estimates are from the 1958 Budget document, released January l6, 1957, Includli^ effects of proposed leglelstlon. Note: Figures In this table are for agencies es constituted at the time the expenditures were made, and therefore do not necessarily represent functlcQB which are comparable over a period of time. For expenditures by functions on a consistent basis, see Table 3Expendlturee for Reconstruction Finance Corporation are Inclined under 1/ "Independent offices" through 1951+ , and under "Treasury Department, other" thereafter. 2/ Expendlttnree for Federal Eooe Loan Bank Board are included under "Housing and Heme Finance Agency" through 1955, and under "Independent offices" thereafter. X/ Etpenditures of $1 million In 1956 from prior year appropriations to the Comoerce Department for the Bama Poad are Inclvded under that Department In this table, while ttie 1958 Budget document Includes them under State Department in cconbinatlon with expenditures from the I956 appropriation for the same purpose. 1*/ Total Includes allowance for contingencies amounting to $200 million in 1957 and $1.00 mlUion in 1958. 5/ Beginning with 1957, Federal aid for blgtaways Is excluded frcm 515 1/ Treasury Department State Department 39lt 5U 11.3 it.itT't . 587 535 515 525 6/ 106 1/ 651 585 601 601. 601. 6,603 5lt 368 879 V 12 13 22 22 738 779 27 23 U 63 90 57 6 63 51. 51. 5 3 1.3 1.5 6 Itlt 1. Ult 6 5 52 7U 52 621 26 btjd^et expenditures and Included In truat cwcount expenlltia^s (see Table 1, footnote lU). Pajnents made initially from bidget accounts in the early monthe of 1957 had been fulljr relnburaed 6/ 1/ 2/ 10/ from the truat fund (netted against other expeailtures) by the end of Noramber. Expendlturee for Alaaka road construction are liKluded uiaier Interior Department through 1956 and under Coamerce Departnent beginning 1957« December figures Include 1957 adjustment for this transfer Effective January 1, 1957, the production credit corporations were merged In the Federal intermediate credit banks, pursuant to the Farm Credit Act of 1956, approved July 26, 1956 (70 Stat. 659). Thereafter operatlone of the banks (as mixed -ownership corporations) are classified as trust enterprise funis and are included net in trust account expendlturee; previously the operations of the banks and the corporations, respectively, were classified as public enterprise funds and were Included net in budget expenditures. Adjustments for this change in classification are incorporated in the January figures. Current year totals Include unclaeBlflod expenditure transfers. Effective June 3O, 1955, interest on the public debt la reported on an accrual basis. Consists of Federal payment and loans and advances. . : Treasury Bulletin .BUKET EECEIPTS AND EXFENDITUEES Table 3.- Expenditures by Functions, Fiscal Years 1053 to Date (In mlllloiia of dolXare) FiBictlon code 1953 195* 1955 1956 nmber Major natlcoal eecurlty! Direction and coordination of def enae < • Air Force defense Army defense >>• HaTal defense Other central defense actlrltles DerelopDent and control of atoalc energy Stockpiling and defense production expanslcn Military assistance • ..•••••• 051 052 15 i2 13 ll» 15,085 16,71*9 I6,21l2 11,875 39U 1,791 1,008 3,95* 1,895 8,899 9,733 U81 1,857 8,702 05li 15,668 12,910 11,293 l6,l»07 053 l,0l»5 9l>Ji 055 056 057 058 Total major national security.. Il52 9,7W 582 1,651 588 3,629 2,292 2,6U 50,363 li6,901i li0.626 lt0,6ltl 150 1,960 106 130 1,511 91 121 1,960 100 120 1,616 111 2,216 1,732 2,l8l 1,81(6 International affairs and finance ; Ccoduct of forel^ affairs EcoDCBlc and technical deTelop&ent Foreign Information and exchange actlrltles ^ 151 152 153 Total International affairs and finance Veterans* serrices and benefits: Veterans* education and training 2/ Other Teterana' readjustment benefits Veterans * coapenaatlon and pensions Veterans' Insurance and servicemen's indemnities...... Veterans * bOBpitals and medical care Other veterans* services and administration ^ 101 lOS 103 659 138 158 2,lt20 2,1*82 lOlj 102 105 106 757 223 100 78e 188 150 2,681 57 727 178 l.,298 ''.256 U,U57 Total veterans* services and benefits Labor and welfare Labor and manpower Public assistance PrcDOtlon of public health Pronotlon of education General-purpose research, libraries, and museims Correctional and penal Institutions Other welfare services and administration 211 212 213 2IU 215 216 Agriculture and agricultural resources: Stabilization of farm prices and farm inccoe hj Financing fann ownership and operation l/ Financing rural electrification and telephones Conservation and developnent 1/ Research, and other agricultural services 1/ ^ 351 352 353 35I' 355 Total agriculture and agricultural resources natural resources: Conservation and Conservation and Conservation and Conservation and Becreational use General resource development of land and water development of forest resourcea development of mineral resources..... develoizient of fish and wildlife...., of natural resources sinrveys and admlniatration UOI Uoe U03 123 105 788 176 1(,756 281 277 328 1(75 1,''39 1,1.28 1,1(57 290 271 35 26 275 321 351 275 60 31 11*7 115 126 2,1(26 2,U85 2,552 2,776 2,125 109 239 317 1*5 1,689 256 3,508 236 3,91(6 217 20lt 2U1> 150 286 177 231 217 305 215 2,936 2,557 It.liU l(,913 1,23"* 1,056 107 38 3U 30 U7 935 118 37 •3 35 803 138 288 36 m 27 ItOU U05 3|t_ 1(09 Total natural resources 767 2,798 1,332 31B 217 Total labor and welfare 661> 37 38 33 35 56 28 3U_ 38 1(5 UU 35 1,'>76 1,315 1,202 l.lOU ''55 370 586 275 312 37 JiOl 3't9 1(20 Comerce and bousing: Prcnotlon of water transportation Provision of highways Pronotion of aviation • Poatal service Comnunlty develofxnent and facilities 3/ 2/ Public housing programs 10/ Other aids to bousing 8/ U/ Other aide to business 12/ 1^/ Regulation of coninerce and finance Civil defense Disaster Insurance, loans, and relief H/ 511 512 513 SI* 515 516 517 518 519 520 521 Total ccmierce and housing General government: Legislative functions • Judicial functions • Executive direction and management.. Federal finane ial management • General property and records management Central personnel management and employnsnt costs Civilian weather services Protective services and alien control Territoriea and possessions, and District of Colunbla. Other general government Total general government 572 239 659 '•5 29 "•13 -lU 137 51 -lUS -330 '•5 60 6117 253 356 56 -115 270 783 251 1(63 U 31 19 -JtOU -83 38 kz Ul 56 12 1(3 2,502 8ll> 1,502 2,028 U9 29 U9 29 60 31 11 UU2 185 387 11 W»9 155 12 77 38 12 ".31 1(75 28 55 lUO 26 160 53 213 l.U^t 1,239 12 601 602 603 6011 605 606 607 608 609 610 llt7 (Caatlnued on following page) 1_ 93 I6I1 161( 115 25 157 331. 139 188 69 238 1,201 1,629 67 July 1957 -BUTCBT RECEIPTS AND EXPENDITURES. Table 3.- Expenditures by Functions, Fiscal Years 1953 to Date {In millions of dollare) Function (Continued) . Treasury Bulletin THJST ACCOUNT AHD OTHEP TKANSACTIOKS Table 1.- Summary of Trust Account and Other Transactions (In Bllllone of dollara) July 1957 THUST ACCOUNT AND OTHER TRANSACTIONS. Table 3.- Trust and Deposit Fund Account Expenditures (In mllliona of dollars; negatlTo figures are exoeas of credlte) Truet accounts Fiscal year Total timet accounts Total or Biontk 2/ y Federal Old-Age Federal Disability and SurvlTors Insurance Trust Insurance Trust Fund i/ Fund Ballroad Betlrenent Account Itoemploj- nent Trust Fund National Service Life Insurance Fund X9l>9 3,821. 661 278 1,311. 31.8 1950 1951 6,950 6,85k 781i 301. "•,139 1,569 2,067 321 391 2,026 900 ,988 3,9''5 '',952 3,'»10 268 271 300 1.11 1,965 1,393 8U 1.30 87 507 692 739 1,501. 520 1,531. 51.0 88 86 566 598 lA 1.65 1,010 6,769 7,327 3, '•05 1,71.5 1955 1956 e,5'.5 8,1(89 l',U87 502 585 9,197 5,551 611 11,970 U,926 6.W9 l'»,351 l'i,l65 7.366 19 313 222 11.7 2,750 1957 (Est.)... 1958 (Est.)... 61 Government employees retirement funds 623 538 5:2 5,298 5,698 2/ Insurance Fund 77 82 82 5,169 9,1135 Ufa 6lU 996 588 195'' 1952 1953 GoTemaent 1,01*9 363 1,029 801 809 1.95 lt97 52 52 10 8 1.7 81.6 935 500 57 121 119 103 1.3 9^ Septeml)er 1.0 5 1.6 October. November December 959 857 809 964 891 505 501 63 56 95 97 1.1 9'tl 57'. 51. 121. 6 6 5 1.7 1957-January . February, March..,. 1,112 1,095 1,067 538 1,05'' 5'.8 1,3''2 1,326 588 56 57 58 AiirU May l,'t91 1,367 1,230 187 177 177 165 661 1956 -July August. , 1,3'''» Trust accounts - 661. 59 59 11.9 39 37 1.7 1.7 50 6 8 6 1.3 1.5 1.6 1.8 1.8 51 U9 7 52 1.8 9 53 Deposit fund accounts (net) (Cont,) GovernBent-sponsored enterprises Fiscal year or Bonth Highway Trust Pmid 6/ Otlier trust accounts 2/1/ 526 hj 370 387 I9I.9 1950 1951 1952 1953 Total deposit fund accounts 8/ itH 96 -8 -W. 310 2^ 2^ 12/ -395 -120 12/ -3'.6 wn -529 1951. 1.95 1955 1956 399 537 S/ -558 56 13/ 1,150 1,806 1956 -July August . September 10 150 . October.. November December . 1957-January . . February., March , . , April, May , , , lit/ 185 kl 220 137 -113 -89 31. 175 100 62 32 M -1.37 iQ/ Redemption of Govenment agency obligations in the market 10/ 10/ 10/ 10/ 10/ p 13 -12 10 -16 <7 16 9 -137 121. -5 -1 -66 75 -11. -53 313 196 111. 229 187 6 58 331. 1.8 5 Ul -121 56 -192 3 1.5 99 « 10 1 187 1.9 -1.37 35 -58 2U7 uo 118 71 335 -UlO 3 3 -1. Ifi 70 100 65 -505 -21 -250 -31 -132 310 55 106 10 329 -1.2 U/ UO U/ -395 -120 n,a. n.a, -« -5 -3'. 37 1.22 2/ 51.8 170 Other deposit fund accounts Other expenditures -269 -872 12/ -J.0 1.3 56 22/ 238 918 1,183 Investment in public debt securities -191. 1.13 1957 (Bat.)... 1958 (Est.)... Total 8/ 12/ .. . : Treasury Bulletin . TRUST ACCOUNT AND OTHER TRANSACTIONS. Table 4.- Net Investment by Government Agencies In Public Debt Securities (In millions of dollars; negative fl^fures are excess of sales) Trust accounts Total Fiscal year or month 19lt9 trust accounts H 2/ 1950 1951 2,3U 2/ -Jtoe 2/ Federal Old -Age and Survivors Insurance Trust Fuid Federal DlsaMllt; Insurance Trust Fund 1/ Railroad Retirement Account 1,2911 1,1.1U IbeDploynent Trust Ftmd Rational Service Life Insurance Government Insxcance Guter nnent employees' retirement Fmd Fmd funds Ufe 31I6 -160 353 -72ll -1,9116 32 -26 650 9k 8 573 583 -2li5 1 62I1 590 59 -2 588 23 -65 -1 -16 252 I1U7 1958 1953 3,557 3,636 3,301 3,369 3,355 3,068 1,678 1,950 1,5''5 338 357 U.9 280 195't 2,05ll 1,522 202 -2lt6 1955 1956 1,21.1 IM -51.5 73 2,617 i/ 1,688 i/ 1,236 2,516 6/ l,k63 121 258 135 1957 (Est.)... 1958 (EBt.)... 2,982 2,368 2,921 2.197 958 76 36 310 379 67 -18 -17 779 793 1956 -July August.. Septenber 277 -222 -33 Ih -8 -6 521 703 -21U 276 698 381 -127 1>2 275 -It -23 -72 -8 -5 -3 13 -22lt Oc toller.. RoTsBber. December. -282 305 -91 -323 303 -101 -250 127 -121 -3"» -I19 -1. -5 171 -It 2 -9 -3 21 -6 -6 -3 17 1957 -January.. ?Bbruary, Harcb.... -37'« -286 1/ 156 -2U5 87 IhS -160 5 -2 -2 9 -12l> -5 -7 -5 -6 U uo -39 23 7 -1.3 7fe 108 -Ilk 302 -9 -6 -5 -8 1,362 April.... May y 169 2I15 -Jtoe -I1I5 1,255 1,263 ,263 Trust accouDte Fiscal year or month 8/ 227 Hi^nrny Trust rvod 2/ - (Cent.) other trust accounts 327 555 26 public enterprise funle Federal Housing Administration 9 lOlt 52 -6 21 59 19511 1 101 79 -77 Federal Sav. logs and Loan Insurance Corp. -86 31I1 5I18 9 9 -1 9 GoTermMnt-eponaored enterprises Public enterprise fuDds Total 1951 1952 1953 9 30 86 51.3 Total Government sponsored enterprises u kl 7 73 12 9 u 8k 179 153 kk3 2/ Banks for cooperstires Federal Deposit Insurance Corp. 62 a 87 102 Federal heme loan banks Federal laul banks 21 95 61 31k 18 82 k25 19 MwmcT**"*^ 'y 1\/ 1955 1956 8 6/ 1957 (Est.)... 1958 (Est.)... 300 367 102 17 126 101 95 12/ 69 62 170 100 120 19 -57 21 29 3 1956 -July August . . September 10 1 10 -1. 5 10 3 -12 2 2 1 October., HoTember. December. 16 -5 -6 3 2 9 19 9 6 3 -1 1957 -January.. Fsbruary. March..., '•7 April.... May ice U9 65 88 2/ 95 Ik -3 Ul 18 22/ 17 13 15 li 10k 55 106 105 106 98 -50 3k 35 -58 -58 1 -6 -2 23 -Ik 29 16 -22 • -13 1 -31 13 -kk -95 2/ 68 179 5 3 13 e 2 3 2k7 ko k 31 k 18 13 k 2 -137 1 -133 -k 12 -8 6 -16 2 k k k k -66 -Ik -75 -15 -87 1/ Source: See Table 1. 1/ See "Budget Becelpts and Ezpendltiires,'' Table 1, footnote 12. Vrior to 1951, net Inreetoent by smaller trust accoints and by deposit 2/ fund accounts Is Included In expenditures In Table 3 • For explanation of difference frca Budget figures, beginning 195k, see "Cash Inccne and Outgo," Table 7, footnote 1. k/ Excludes net Investment by Government-sponsored enterprises beginning with the fiscal year 1955 (see Table 1, footnote 3). Includes net sale of $300 mlllloo for adjustment of excess transfers of tax receipts In 1952 and 1953 (see "Budget Receipts and Expenditures," Table 1, footnote 9). 6/ Does not Include Investments representing acquired securities amounting to $l,6k3,070 (par value) and donation of securities amounting to $k5,800 (par value); see also Tables 2 and 3. 1/ Beginning January 1957, Federal intermediate credit banks are classified as trust enterprise funds Instead of public enterprlee funds as 8/ ^ ^ 170 5k8 2/ 12/ Xl/ }2/ • before (see "Bulget Receipts snd Expei^lturvs," Table 2, footnote 7). Adjustments for this change In classlflcatlcn are Incui'pui'ated In the January figures. yricBC to 1951, net investasnt by public enterprise fwds was included In budget expenditures, and net Invest^nt by Govermentspcxieared enterprises was Included In deposit fmd expenditures (see Table 3). See "Budget Receipts and Expenditures," Table 1, footnote Ik. For 19k9 and 1950, consisted of Adjusted Serrlce Certificate Fu>d, vith investaents of less than $500,000 esch year. Het inrestment by Government-sponsored enterprises beginning 1955 is included in deposit fund expenditures In Table 3 Beginning 1955, figures Include net transactions in guaranteed securities by Federal Bousing Administration and Federal lational Mortgage Association. Lass than $500,000. July 1957 TRUST ACCOUNT AMD OTHEP TRANSACTIONS. Table 5.- Net Redemption or Sale of Obligations of Government Agencies In the Market (in millions of dollare; negative flguree Indicate net aalee) Securities guaranteed by the Ublted States Public enterprise funds Fiscal jear Total or i&ontb 19lt9... Total guaranteed 1.6 7"» 1950 1951 1952 22 8 -381. 1953 25 -10 -16 -7 72 WSk k 1955 1956 -602 1/ -173 1957 (Bst.)... 1958 (Bst.)... -391 1956^ul!r August -22 -111 ... -1.90 September. 11. October, November December kS 70 . U 1957-January... February, March.,., -205 -35 -298 April,,.,. May -253 -153 2/ -29 37 -30 Jt6 -35 • 6 -6 Co^Dodlty Credit Corporation Federal Farm Mortgage Corporation Federal Housing Administration 31 9 11. 1 -1 -12 -16 -7 1 -3 -30 37 -30 •J.6 -36 * 6 6 -1. -h -9 -9 -3 -2 J. -1 -1 -e 7 -1 Bcav Owner's Loan Corporation 10 Treasury Bulletin .CASH INCOME AHD OUTGO. The cash Income and outgo data "Treaeury Bulletin," beginning with Issue, are on a basis consistent with payments to the public as derived In appearing In the the February 195^ receipts froD and the 1957 and sub- sequent Budgets of the United States, Special Analysis A. Reconciliation to cash deposits and withdrawals In the account of the Treasurer of the United States Is shown on There Is also the sane basis as In the Budget documents. shown the amount of net cash borrowing from, or repayment of borrowing to, the public. By these arrangements, data In accordance with the Budget classifications are made availFigures for back years have been able month by month. representing cash received from the public. Federal cash borrowing from the public Includes net borrowing by the Treasury through public debt transactions and also net borrowing by Government agencies and Government-sponsored enterprises through sales of their own securities. It excludes changes in the public debt which do not represent direct cash borrowing from the public. The net effect of all these transactions with the public Is reflected in changes In the balance In the Treasurer's account and In cash held outside the Treasury. Cash transactions through the Treasurer's account are general concept to those Included In the Budget revised where necessary In order to make them as nearly siir.llar in comparable with the Budget classifications as available data will permit. For this reason certain of the figures aeries, affect the balance In that account. differ somewhat from those published In earlier Budget documents as well as In the Bulletin. authority, which are excluded from receipts from the public but are limited In coverage to transactions which On the other hand, they Include receipts from the exercise of monetary In the Budget series. The Budget series of cash transactions Is designed to provide Information on the flow of money between the public and the Federal Government as a whole, and therefore Includes transactions not cleared through the Treasurer's account. Receipts end payments Include transactions both Beginning with figures for the fiscal year 1953, the series of transactions with the public Is based on the "Monthly Statement of Receipts and Expenditures of the United States Government," which Is compiled from reports Operations of Oovemment-sponsored enterprises are Included by all collecting and disbursing officers and Includes those transactions not cleared through the Treasurer's In budget accounts and In trust and deposit fund accounts. Cash deposits and withdrawals in the Treasurer's Inpayments on a net basis as reflected In Treasury reports. account. Major Intragovemmental transactions which are reported as account, beginning with the figures for the same year, are both expenditures and receipts are eliminated from both. Noncash Items which represent accrued obligations of the Government to make payments In the future are also eliminated reported In dally Treasury statements. from expenditures but are added later when actual payments are made. Receipts from the exercise of monetary authority (mostly seigniorage on silver) are excluded as not For those years prior to 1957 both cash transactions series are based on a single source, namely, the earlier basis of dally Treasury statements which reported separate classifications for trust account transactions, etc. budget results, July [957 11 CASH INCOME AND OUTGO Table 1.- Summary of Federal Government Cash Traisactlone with the Public (In mlllloas of dollars) Flacal year or month 19^9. 1950. 1951. 1952. 1953. Net cash transactions with the public other than borrowing Federal receipts frcBi the public Federal payments to the public Excess of receipts, or payments (-) '•1,576 U0,9lt0 1.0,570 53,390 68,013 •5,797 1,006 -2,207 7,593 67,961. 71,'<99 195^. 1955. 71,627 67,836 1956.. 77,081. ''3,11.7 1957-J«nuary... Pebruftry. March April. May... 2,01.7 56 1,839 -388 -2,299 73 2,096 257 29 -551 331 -312 -202 30 Ul -51.6 -78 2 -2,369 2,019 1 •hk 71,860 70,538 72,613 -232 •2,702 2,512 1,809 '','.71 J., 366 23 3,1.55 -l.,109 2,953 -2,991. 5,895 6,686 5,699 -1,931 -1.00 -U39 2,372 1,191 -9W 3,7k7 5.972 5,785 6,671 6,355 2,921. -383 -1,527 1,21.0 5,3119 7,561. 11,7011 6,096 7,088 6,630 -71.7 5,21.1. 7,220 6,923 7,280 1957 to date. -1,1.62 "•3 2,919 69,781. 7,312 72,575 Cash held outside Treasury^ increase, or decrease ( -) 1.6 -5,271. 78,265 82,970 Treasurer's account balance , Increase or decrease (-) 25 76,773 3,96l» Change In cash balances l.,229 68 1956 -July August. . . September. Bluals: -2,513 1.9 81,720 85,923 6,286 6,889 Plus: Receipts frcm exercise of monetary authority -5,796 -505 1957 (Est.).... 1958 (Est.).... October... RoTeaber . December.. Plus: Net cash borrowing from the public, or repayment (-) 3 3 1,333 219 21.9 -1 5 5 -l,7kl 62 -119 li -1,350 -1,162 1,071. "•5 -'•35 U76 3 37 3 581. 5,073 -1,11.2 5 3,821. -1,976 6 -2,11.2 358 -170 -67 6 1 308 -11 -2,791 2,001 1.5 -706 -39 Source: Actual figures through 1952 are based on the dally Treasury statement and thereafter they are based In part also on the aonthjy statement of receipts and expenditures of the Oorenment (for -17 -69 112 explanation of reporting bases, see page II); estimates are based on the 1958 Budget docunent released January 16, 1957, incliillng effects of proposed legislation. Table 2.- Summary of Cash Transactions through the Account of the Treasurer of the United states (In'mllHone of dollars) Fiscal year or month 191.9 Net cash transactions other than borrowing Cash deposits 1.1,622 1.0,965 53,1.33 1950 1951 1952 68,08l 1953 71,31.5 1951. Cash withdrawals Excess of deposits, or withdrawals (-) Plus: Net cash borrowing, or repayment of borrowli^ (-) 1.0,1.62 1,161 -2,622 1.3,079 -1,1.62 -2,111. l.,l6l •5,718 2,01.7 7,715 287 -5,062 -5,875 1.839 -388 -2,299 67,791. 76,1.07 -671. 2,763 1955 1956 1957 71,815 67,758 77,079 61,875 1958 (Est.)... 85,96U 82,970 2,991. -2,991. 1956 .July August ... Septeaher 3,701 6,579 6,877 5,603 6,855 5,61.9 -1,90c -276 1,2S8 2,295 3,1.3'. 6,1.09 6,332 5,899 6,576 7,1*8 October... Noveaber December . , 1957-January.., February,. March.,., l.,886 7,'«7 12,235 April.... l.,8ol. May 7,1.87 June 12,21U Equals: Treasurer's account balance. Increase, or decrease (-) 71,971. 69,888 71,981. 79,183 5,599 6,802 7,203 6,726 7,017 7,297 Source: Actual figures are baaed on the dally Treasury statement; estimates are based on the I958 Budget document, released January 16 1957 including effects of proposed legislation. Figures In the first fiur -159 -2,130 5,096 2,692 2,255 1,579 J., 765 -3,61.8 -1.67 2,096 -551 331 -956 -2.369 2,019 -979 21.9 -2,975 1,231. -2U1. -1,549 1,318 199 -l.Tkl 1,07* -1,350 -713 -1.50 625 5,032 J.1 -1,208 -1,922 -219 -162 t70 •,917 -5,167 -1,16a 584 3,821. -e,ite 308 -250 colums of this table may differ somewhat from those originally published the dally Treasury statement because of subsequent reclassification of certain transactions. m ... . Treasury Bulletin 12 CASH mCQME AND OUTGO , Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to Cash Deposits In the Account of the Treasurer of the United States (In mlllloQs of dollare) Fiscal year or Dioath Bulget (net) iJQtragoTern- Tniat account 2/ ffleatal transactions (See Table 5) 2,199 56 73,811 69,926 79,851 2,110 2,061 2,743 73 29 84,965 89,479 56 -210 41,622 40,965 53,433 68,081 71,345 71,627 67,836 77,084 73 29 23 2,183 2,090 2,767 114 -107 -28 71,815 67,758 77,079 3,215 3,515 30 41 3,245 3,556 81,720 85,923 30 41 4,597 6,372 6,970 631 2 3 290 3 3,964 6,286 6,889 -265 3 633 86 81 2 83 78 3 -15 3,844 6,049 6,U06 93 5 3,747 5,972 5,785 -318 5 4 97 76 621 5 71 617 5 4 355 UO 3,701 6,579 6,877 3,434 6,332 5,899 5,458 7,646 11,805 106 80 96 3 109 3 3 83 5,349 7,564 101 U,704 4,886 7,427 12,235 5,339 7,403 90 117 5 6 3 5 -466 -140 527 95 123 5,244 7,280 6 6 -UU6 6 4,804 7,487 6,669 7,796 8,807 8,929 70,198 73,754 9,155 9,536 11,685 1955 1956 60,390 68,165 1957 (Eat.)... 1958 (Fst.)... 70,628 73,620 l't,337 1956 -July August ... September 3,1'85 October. November . December . 3,l81t U,8l8 1,112 1,U19 753 660 1,231 5,'' 12 99't 809 6,188 10,737 650 1957-January.., February March .... April.... Ma; Source: l.,95"t 6,218 It, 15,859 1,">58 1,068 '•,256 1,083 5,282 2,121 Cash deposits in the Treasurer' accornt 46 25 36A95 61«,655 y Biuails: 41,576 40,940 53,390 68,013 71,499 1950 1951 1952 1953 1951* 2/ Total deductions Reconciliation to cash transactions In Treasurer's account Equals: Federal for Plus: Becelpts Adjustment receipts net difference from the from exercise reportdue to of monetary public ing method (Eeo authority U/ also Table U) 1,834 2,224 1,974 2,185 2,255 5,71'' "•7,568 Receipts from exercise of monetary authority 46 25 37,696 611,825 Excess profits tax refund bond redemptions 1,784 2,197 1,930 2,116 lt3,Ul0 Ii3,l6i 19''9 61,391 Deductions fron receipts Lese: fiecelptB 55, 3&' 43 68 43 68 23 81,750 85,964 200 Footnotes follow Table 7. See Table 1. Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to Cash Withdrawals from the Account of the Treasurer of the United States (In millions of dollars) Intra- Trust Fiscal year or month Budget 1/ and deposit fund account 2/ (net) 1/ 472 324 74,542 73,214 76,299 2,110 2,061 2,743 572 615 943 71,860 70,538 72,613 -257 312 202 11,970 14,351 -34 lUU 80,836 86,302 3,215 3,515 -6I1U 78,265 82,970 78 1,029 801 846 -45 10 191 6,526 6,713 5,955 631 4,918 5,995 5,726 5,718 959 857 809 23 10 6,978 6,593 6,553 6,095 5,743 5,584 1,112 1,095 1,342 1,491 1,344 -248 -435 6/ 1957 (Est.)... 1958 (Est.)... 68,900 71,807 1956 -July August . September 5,542 5,902 See Table 1. From cash held outside the Treasury 4/ 40,570 43,147 45,797 67,964 76,773 7,204 6/ 8,546 9,436 1/ Source: 664 1,153 275 Less: Payments to the public not reflected In the Treasurer's account 2,197 1,930 2,116 2,199 67,772 64,570 66,540 1957 -January.. February. March. .. April.... Ml^ Equals: Federal Accrued payments Interest to the and other public noncash expenditures (See Table 6) 43,018 46,497 48,002 70,359 79,443 1954 1955 1956 November December. (See Table 5) 65,1(08 74 ,274 Oc tober . mental transactions sponsored enterprise -341 39,507 39,617 4U,058 , eovem- GoTemnent- 3,852 6,964 3,654 5,317 5,288 1949 1950 1951 1952 1953 Beconc Illation to cash transactions In the Treasurer's accoiint Less : Deductions from expenditures Expenditures 5,987 5,944 -83 291 -366 -119 98 26 27 -50 i§ 6,959 6,865 6,876 7,469 7,355 1,784 279 -183 * From proceeds of sales in the market of agency obligations and public debt securities (See Table 7) 2/ Adjustment for net difference due to reporting method (See also Table 3) Equals: Cash withdrawals from the Treasurer's account 108 66 79 170 155 -210 40,462 43,079 45,718 67,794 76,407 256 230 399 114 -107 -28 71,974 69,888 71,984 78,187 82,970 28 -265 -56 41. 77 290 78 178 5,895 6,686 5,699 -1 83 1 34 -15 93 215 166 -1,376 6,671 6,355 7,312 U9 6 15 -318 355 -45 20 UO 6,409 6,576 7,448 757 6,096 7,088 6,630 7,220 6,923 17 15 69 -466 -140 -112 78 66 -1 11 49 95 5,599 6,802 7,203 6,726 7,017 71 617 106 80 96 -303 90 117 15? 316 150 -62 Footnotes follOH Table 7. 527 -41.6 200 5,603 6,855 5,649 July mr 13 CASH INCOME AND OlfTGO. Tpble 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments (in mllllone of dollara) Budget recelpta ^rtilcL. are Budget realao budget expenditures ceipts which are alao Interest paid trust fund to Treasury Other expenditures by public 1/ 2/ enterprise funds Fiscal year or month 19"^ 1950 1951 32 73 195S 1953 GovemmentInterest on investment in public debt securities spcaisored enterprise expenditures 1/ Payroll deduct lone for employees * retirement kj Other 1/ Trust fund recelpta which are also trust fund expenditures 6/ Total 327 358 378 hll 366 1,0911 1*20 l<63 7 68 81 101 1,188 1,173 1,207 I130 18 16 16 2,U0 1.39 57lt 167 166 521 585 588 670 719 29 30 3,215 3,515 36 61 U9 553 631 3 83 It 78 29 llt7 10 195k 1955 1956 2S8 6 173 298 7 18 1957 (Est.)... 1958 (EBt.)... U87 515 9 106 1,322 10 2lt2 l,lt03 1956 -July August. . September 33 8 1 9 3 1. • u 16 October. November December. 2 1 3 31 3 7 167 57 337 2 1957 -January.. February. March.. . 25 18 * 5 3 k April.... M«y 2 2 Source: Interest on uninvested trust funds 841 880 892 987 170 18 20 25 59 87 108 IW. Trust fund receipts which are also budget expenditures Budget receipts which are also 831* 2 2 398 2 573 3 52 53 53 2, 061 2,71*3 93 3 63 1,781* 2,197 1,930 2,116 2,199 U 71 3 617 11 106 80 96 7 18 Ii6 1 66 6 U Sk "•5 U 3 13 67 28 90 117 Footnotes follow Table 7. See Table 1, Table 6.- Accrued Interest and Other Noncaeh Expenditures Excluded from Payments (In mllllona of dollare) Fiscal year or month Net accrued interest on savings bonds and Treasui? bills 1/ Clearing account for public debt interest 2/ Noncash expenditures involving issuance of public debt seciiritiee Special notes of U. 3. 6/ Adjusted Armed forces service International International leave bonds Monetary Fund bonds i+/ Bank series series ^ ^ -25 -1*1 -98 207 Net investment in public debt securities Included In expenditures 1/ Clearing account for checks outstanding, etc. 8/ 6 366 661* 28 I183 1,153 275 279 19''9 581 -161* 1950 1951 571* •95 638 758 718 -160 -68 13 -9 -211* -2U 28 -250 1*72 521* -lU -8 -7 109 156 175 -115 -55 335 572 615 -1,000 -500 23 .1.3 -644 -183 298 177 127 -lU -55 -7 -332 -199 19 191 186 -329 .1. -19 -56 -5U6 166 -1,376 1952 1953 , 1954 1955 1956 1957 (Est.).... 1958 (Est.).... 1956 -July August . . . September. 1*97 66 26 1*56 -15 31*0 365 1.8 21 1*1 -1*01 943 * -56 178 215 October. November . December. 1*3 1957-January . . February , March 67 13 19 5 -205 135 300 -121 -130 377 5 -303 11*1 150 11 22 170 263 -185 235 161* 159 316 . April..... May. Source: See Table 1. Ul 78 -579 Footnotes follow Table 7, -IWi 757 B .. , . . Treasury Bulletin 11+ CASH INCOME AMD OUTGO. Table 7,- Derivation of Federal Government Net Cash Debt Transactions with the Publ ic, and Reconciliation to Net Cash Debt Transactions through the Account of the Treasurer of the United States (Net borrovlng, or repayment of borrowing (-); In mllllonB of dollars) Change in public debt and agency obligations held by the public Net sale of obligations of Government enterprises in the market Plus Fiscal year or mcnth Public debt increase, or decrease (-) : Public and trust enterprise funds 478 191*9 1950 1951 1952 1953 igsi- 1957 <Eet.).... 1958 (Est.).... 1956 -July August , . . September October,. NoTeaber . December.. 28 3x3 69 -2,226 -1.02 101. 81. 111. -186 33 3,369 3,355 3,068 101 79 179 153 -5,308 175 11 269 872 1,686 1/ 1,236 2,516 2/ -77 126 101 W.6 171 51.9 -3,71*3 21 250 2,921 2,197 62 170 55 106 -'.,777 1 35 -58 2,337 16 -13 -31 1,283 1,370 -283 -68 -66 -1,268 -59 -11. 602 173 2,311 -2,151 391 -1,1100 1.90 -105 -10 2,919 22 111 -1.8 276 698 -1,30U -lU 192 -22U 10 1,022 -1.5 1.0 Ul 1,73'» -70 -11 -3 -5 -323 303 -101 205 35 298 67 -286 156 -87 13 247 UO -1,271 -187 227 18 -137 -991 1,226 253 153 -75 53 -1.15 1,263 12 -8 -66 -lU -1 5 Adjusted service bonds Deductions for noncash and other transactions 5/ 581 1950 1951 1952 571* -a -2 638 758 718 -1 -1 -1 521. -1 -1 Aimed forces leave tonde ^ -161. -95 -160 -68 -2U Special notes of U. S. 2/ International Bank eerie -25 -Ul International Monetary Fund eeriee Excess profits tax refxmd "bonds 6/ 14,870 3,61«) 3,130 : 2,1.51. -3,133 -I1O6 -913 2 9 -3U5 190 Lees: Issuance of public debt securities representing ezpendltiures, or refunds of receipts 1*/ 19l»9 1953 6 -11. 371* Less: Fiscal year or mcnth aponsored enterprises -S UO Net accrued interest on savings bonds and Treasury bills 3/ -28 Govemment- Public enterpris funds 10 -lt6 -399 April May Trust funis sponsored enterprises "•,587 -389 1957-JanuBry... February . March GoTei'uuent- -2,135 3,883 6,966 5,189 3,115 -1,623 1955 1956 Equals: Increase in securities held by the public, or decrease {-) Less: Net inveetanent in Federal securities by Government agencies Total deductions Qluals: Net casta borrowing f rem the public, or repayment (-) Transactions not reflected in the Equals: Net cash borrowing through the Treasurer's account j/ Treasurer's account, or repayment (-) -2,513 108 '.,229 68 28 287 6U2 U89 680 722 -5,796 -505 2,919 79 170 155 -2,622 U,l6l -5,875 -67U 2,763 256 230 399 2,255 1,579 -U,765 -98 207 13 -9 WSli 1955 1956 U97 1.56 -8 -7 109 156 175 618 6UU 623 2,512 1,809 -U,366 1957 (Est.)... 1958 (Est.)..., 3U0 365 -7 -5 -1,000 -500 -667 -lUO -U,109 -2,99U 1956 -July August . . . September U8 21 -1 -1 -1 -lU -55 -7 33 -35 33 -U39 2,372 28 77 -9U6 3U -979 October. . November . December. •3 U3 1,2U0 1,333 219 6 1,23U 1,318 199 -U50 Ul Ul 78 1957 -January.., February, 67 19 March,.,. 5 April.,,, May 11 22 Source: See Table 1. -ll. -U 37 -579 -501 300 -121 -330 -185 235 -U,109 -2,99U 15 20 -U67 2,295 367 -U35 -103 -126 -1,1U2 15 78 66 -1,206 -170 -67 U9 95 -219 -162 -17U 257 Footnotes on following page 37 -Ul July 1957 15 , CASH INCOME AND OOTGO Footnotes to Table 3 \J 2/ ^ For further detail, aee "Budget Receipts and Etpendlturee," Table 1. For further detail, aee "Trust Account and Other Transactions," Table 2. Treated as noncash refund deductions frca receipts when Issued and as cash refund deductions when redeemed. y Conelste of eeignlorage on sllTer and Increment resulting from reduction in the weight of the gold dollar; excluded from receipts from the public but included in cash deposits in the Treasurer's account. Less than $^00,000. Footnotes to Table 4 FcT further detail, eeo "Bud^t Receipts and Expenditures," Table 2. Par further detail, see "Trust Account and Other Transactions," Tahlss 3, Inclid.ee net change in balances in GcYemneint-epoBiaored hf and ^. enteriirlee deposit fund accounts with the Treaaurer of the Ihlted States. Net operating eipendlturee, or receipts (-), as meaBured by fuids prorlded by or applied to net security transactions reflected In Treaaiiry reports (see Table 7), To a large extent, these CkiTomnent-spoaiBored enterprises secure funds for their operations by direct borrowing fran the public or by cashing Federal securities vhlch they hold, and they apply the net inccme received fTon operations to repajiaent of 'borrowing frcoi the public or to inveetesnt In Federal securities. On that basis, not ex- penditures for o|)eratlcms are shown in this table In texns of the ccmblned net of dislnTeataent in Federal securities and sale of agency obligations in the market, and net receipts frcn operations are shown In terns of the ccmblned net of Investznent in Federal securities and redemptlcD of agency obligations in Uie marlcet. Hot reported prior to 195^. Consists of only those marlcet transactions not cleared through the Treasurer's accoint. See Table 7, footnote 1. Does not Include revolving fund receipts representing acquired aecuritlea anounting to $1,6U3,070 (par value). Less than $^00,000. hj ^ 6/ 2/ * Footnotes to Table 5 Federal Intermediate credit bank franchise tax through December I956 and beginning 1953, alno relmbursenent ty Panama Canal Compeny for expenses and serrlcea. Includes reimburaeDent by Federal Old-Age and Survivors Insuraiue Trust Fund for administrative expenses and, beginning fiscal year 1953, aleo for refunds of taxes (treated as an offset to refunds rather than being credited to receipts); reimbursement by Federal Disability Insurance Trust Fund and Highway Trust Fwid for administrative expenses and by Highway Trust Fund for refunds of taxes; reimbursement by the District of Coliabia; Federal Intermediate credit bank franchise tax after December 1956; and I9U9, proceeds of ship sales which had been carried In trust accomts pending allocation to budget receipts fran sale of surplus property. Consists of payment of earnings and repayment of capital stock to the Treasury through 1952, and beginning 1955, payment of franchise tax by banks for cooperatives. Includes relatively small amoimts of deductlcms frcm salaries paid by trust funds and Govenunsnt -sponsored enterprises. Conaiats of Italted States and Government corporation ahares of contributions to employees' retirement funds, and payments to the Railroad Retirement Accoxint (for creditable military service), the Unemployment Trust Fund, veterans' life Insurance funda, trust fxmd for technical services and other assistance under the agrlcultxxrel conservation program, awards of Indian Claims Commission, and District of Columbia. Includes District of Columbia share of contributions to the Civil Service retirement fund; payments to Federal Old -Age and Survivors Insurance Trust Fund by Railroad Retirement Board, and by Federal Disability Insurance Trust Fxmd estimated for 1957 and 1958; transfers from Civil Service retirement fund to Foreign Service retirement fund except 1957 actual expenditures; and transfers from Reilroad Unemployment Insurance Administration Fund to Unemployment Trust Fund. Less than $500,000. 5/ 6/ m • Footnotes to Table 6 Accrued discount on aaviiige bonds and bills less Interest paid on aavluge bcmds and bills redeemed. Public debt interest accrued and unpaid beginning June 30, 1955» effective date of the change in accountljog and reporting fran a due and payable baels to an accrual basis; for 195^, conslste only of public debt Interest checks and coupons outstanding; net Increase, or decrease (-), Not reported as a separate clearing account prior to 195^; Interest reported when paid by Treasurer prior to November 19^9. Treated as ncncash expenditures at the time of issuance o:f the securities and as cash expenditures at the time of their redemption; net issuance, or redemption (-). las'jed In 1936 in exchange for adjxasted service certificates held by veterans of World War I. The bondfi matured in 19^5Issued in 19U7 in payment for accxmulated leave. The last of these bends matured in 1951* 6/ jJ 8/ * Part of the Uftited States subscription to the capital of the International Bank for Reconstruction and Development and to the International Monetary Fund was paid in the form of nonlnterest-bearing, nonnegotlable notes payable on demand (aee 19U7 Annual Report of the Secretary of the Treasury, pages US, 350, and 385). The last of the notes issued to the Bank wae redeemed in 1950. By wholly owned Goveininent enterprises; beginning 1951» such net Investanents are reported separately and are not Included in expendltxiree (see "Trust Account and Other Transactions," Table U). Checks outstanding lees deposits in transit, and telegraphic reports For public frcoi Federal Reserve Banks; increase, or decrease (-). debt Interest inclxiied prior to 195^*, see footnote 2, Less than $500,000. Footnotes to Table 7 In this table, beginning 195'*, in accordance with treatment in Bxidget docments, net investment In Ttolted States securities by Governmentsponsored enterprises Includes a amall amount by other enterprises regarded as representing net transactions with the public. In Table U under "Triist Accouat and Other Transactions," these amounts are Inclined in trust and deposit fund account investment. Does not include Investments representing acquired securities amounting to $1,6U3,070 (par value) and donation of securities amounting to $1*5,800 (par value). Accrued discount on savings bonds and bills, irtilch is Included In the liy ^ 6/ jj principal of the public debt, less Interest paid on savings bcnda and bills redeemed. Treated as noncash transactions at the time of issuance and as cash transactions at the time of redemption; net issuance, or redemption (-). {Excluded from borrowing because the transactions are treated as expenditures in Table 6. Excluded from borrowing because the transactions are treated as deductions frca receipts In Table 3> Market transactions in public debt secxirltles and agency obligations. Less than $500,000. , ., Treasury Bulleiin 16 DEBT OUTOTANDIBG AND TREASURER'S ACCOUHT Table 1.- Summary of Federal Securities (In mllllona of dollare) Old of fiscal year or month Total 1/ Public debt securities 2/ 2ll5 2,ll»8 265 2,370 512 1,063 1,270 1,283 Ull 2,2llJl 2,2ll2 ltl9 1,2711 51 80 2,126 2,351 298 271,7'>1 l<3 2,63li 1,302 l,ltU 1,567 269,683 73 2,869 2,125 2,350 2,633 2,868 277,799 52 2,970 2,970 73 2,6711 2,606 2,601 I178 271,7115 269,972 272,959 271,660 2,675 2,607 2,601 89 272,720 89 2,56li 2,563 I1I15 272,809 27'i,565 2711,322 27li,'i71 93 loe 2,5116 2,ll09 2,5lt6 2,ll08 I132 9I1 106 108 109 2,532 2,351 2,227 2,531 2,350 2, 220 698 102 103 l,9|i3 l,9lt2 263,9116 7U 263,997 268,990 271,785 269,956 53 277,851 195't 271,3'»1 81 1955 1956 27't,'>l8 27't ,37't kit 272,825 272,751 1955 -Dec ember. 280,822 280,769 2711,261 275,372 277,111 276,731 October . November December 275,283 277,017 276,628 U6 7'' 79 85 103 February. Marcb . . 276,335 276,376 275,106 276,229 276,269 27i',999 107 109 109 April..., May 27't,Ul 275,337 2711,006 275,2311 103 103 1957-JaQ^isry . . 268,910 270, OWi 273,037 79 8I1 2711,219 273,698 273,919 272,773 272,066 273,6011 2711,027 272,881 272,166 273,176 273 ,0711 Da^.ly Treasury statement. Source: to statutory limitation. 1/ Inclv»ies certain obligations not subject For amounts subject to limitation, see page 1. Treasury. 2/ Excludes guaranteed securities heia by the V Consists of FHA debentures beginning March 1953the International to Issued States Special notes of the IDIted tj Monetary Fund In payment of part of the United States subscription. 5/ 2,161 2.160 1137 589 666 Other 5/ 613 575 550 525 502 I177 l,7ll2 I16O 857 l,6ii5 U67 I188 1,728 1,673 1,666 I157 1,666 1,662 1,083 Ii52 li50 6U7 1,383 1,262 1,132 550 532 9I17 1,182 I1U5 Uli6 I181 87I1 6I1I Guaranteed securities 2/ (matured) 701 2,009 266,123 27l»,3li6 tles 2/ i/ 2,012 2,150 2,372 1953 272,6U5 275,565 secxirl- Monataiy Fund li/ 17 27 52 272,719 275,6UU debt 2ll 266,071 271,260 August. .. September teed 250,762 255,209 252,852 256,863 27 20 29 1956^uly PubUc 250,785 255,226 252,879 256,907 252,770 257,357 255,222 259,105 1950 1951 1952 Public debt Guaran- Guaranteed 252,798 257,377 255,251 259,151 19lt9 Matured debt and debt bearing no Interest Interest-bearing debt Total outstanding •55 I15I1 I15I I15I I1U8 U7 The pursuant to provisions of the Bretton Woods Agreemnts Act. payable on notes bear no Interest, are nonnegotlable, end are outBank and International the to demand. Similar notes Issued stanllog 19li7-19l»9 are Included under "Other." currency Incluies savings stamps, ejicees profits tax refund bonds, (see footnote U). Items, and notes Issued to the Ir.ternstlonal Ban); Table 2. For current month detail, see "Statutory Debt Limitation," Table 2.- Interest-Bearing Public Debt (In millions of dollars) Public issuss Old of fiscal year or month 19119 1950 1951 1952 1953 interestbearir^ public debt Nonmarke table Marketable Total Treasuiy bonds Total public Certificates Issues 250,762 255,209 252,852 256,863 217,986 222,853 218,198 219, 12U 155,li»7 263,9116 223,li08 lii7,335 155,310 137,917 Ili0,li07 11,536 13,533 Bank eligible 29,li27 3,596 18,1.18 20,li0ll 60,789 53,159 Bank restricted U. S. other bonds 2/ savlr^s bonds 119,636 119,636 162 62,839 160 156 67,51111 56,260 57,536 57,572 57,685 57,886 U,860 li2,772 36,061 116,200 lll2 15,85U 30,li25 63,960 27,1160 17,2li5 12 It 80,281 76,717 76,073 31,960 8,672 76,326 73,285 69,817 58,061 58,365 9,509 17,219 19,707 28,ll23 150,3511 19,515 l8,li05 155,206 19,51ii ltO,729 1511,953 20,808 13,836 16,303 71,706 81,057 35,952 8l,81iO 96 71 50 1955 1956 269,683 226,661 226, U9I 22U,769 277,799 233,873 163,251 22,313 15,71*1 113,285 81,862 50 70,622 57,92ii 1955 -Dec... 269,972 272,959 271,660 272,720 22U,6l8 226,905 225,827 227,238 1311,953 20,807 20,809 20,807 16,303 19,523 19,523 35,963 35,122 35,169 57,376 57,338 57,273 22,lil0 2lt,l6l 35,2911 69,222 66,958 68,206 57,ll»2 27lt 19,523 19,523 19,023 35,1911 226,7119 50 50 50 50 50 50 69,665 69,572 27l»,lt71 81,631 61,828 8o,8U3 80,838 60,833 80,828 19,023 20,216 35,3117 33,9liO 80,823 80,618 50 50 67,8U9 67,550 19, '•33 3'-*,367 80,811. 50 67,21*6 56,010 55,623 55,619 19,li3li 3li,li07 50 50 55,lil8 30,92ii 80,802 80,796 66,9116 21,765 66;606 55,193 266,910 I95I1 271,7111 1956 -July... Aug.. .. Sept... Oct.... Not . . . 157,332 156,391 156,016 159,791 160,375 25,179 ,219 226,581 273,696 226,367 Feb ... Mar... 273 ,919 27^,773 228,liU9 160,518 160,899 227,169 159,921" 25,275 25,376 25,262 Apr... May... 272,066 226,915 226,937 159.969 160,331 25.277 26,777 Dec.... 1957-Jan 273,0711 35,223 Source: Dally Treasury statement. demand deposits) were 1/ Issues vhlch commercial banks (banks accepting (1) not permitted to scqulre prior to specified dates, except that: snd the Victory Loans War 6th and Uth, 5th, with the concurrently of Loan, they vere permitted to subscribe for limited investmsnt Aimed forces leave bonds u 35,806 18,963 13 ,6111 Treasury ssvlngs notes 69,1135 56,293 bonds, invest- ment serlss Depositary bonds 369 Special issues 32,776 32,356 396 297 95li 95I1 Ii7 111,526 285 319 lit,0ii6 373 37,739 11,1153 13,288 I1I17 110,536 5,079 1,913 12,775 12,589 12,009 Ull Ii2 6,li72 7,818 6,612 57, ''97 56,9116 Treasury 36 3't,653 1117 ,229 113,250 310 li5,llli 12,300 362 113,926 U,982 307 li5,353 11,931 11,862 303 116,0511 l<5,83li 11,793 11,739 U,6ii8 300 288 273 266 li5,U8a li5,722 115,639 li5,331 U,li78 11,369 262 2U6 236 15,603 11,307 11,203 220 210 Ii6;i37 U,577 Ii5,ii70 such their ssvlngs deposits; (2) they might temporarily acquire might hold e issues through forfeiture of coUateral; (3) they purposes. limited amount of such Issues for trading bonds until Consists of Panama Canal bonds, and also postal savings the last of these bonds mstured on July 1, 1955. mr July 17 nE3T OUTSTANDING AND 'EREASURKR'S ACCOUNT Table 3.- Special Issues to United States Government Investment Accounts (In millions of dollars) Federal Deposit Insurance Corpora tioo of fiscal jear or month fiid 37,739 666 808 868 888 "10,538 a6 32,776 32,356 19^9 1950 1951 195S 1953 195k 1955 1956 3'' ,653 U2,229 Federal Disability Insurance Trust Fund Federal hone loan banks U7 U9 77 50 50 Federal Old -Age and Survivors Insurance Trust Fund Federal Savings and Loan Insurance Corporation Government employees retirement Funds National Govercnent Postal Hlghvay Service Life SavlT^s Trust Ufe Insurance System Fund Insurance Fund 1/ Fund 7,288 5,3k2 5,k36 5,191 5,2k9 1,952 1,802 706 552 k52 1,231' 5,272 5,3k6 5,k8l 213 91 6 3,128 3,3k5 3,k86 3,600 1U,01.7 86 79 15,532 61 5,01U 5,6oe 1,318 1,292 1,300 1,300 1,299 5,85k 6,168 6,667 1,233 1,217 9,003 10,1.18 12,096 95 79 3,270 3,817 '',391 Railroad Retirement Account Ihenqjloy- ment Trust Other 2/ Fund 1,720 2,058 2,klk 2,863 7,3kO 6,616 7,266 7,7k5 8,287 32 8,02k 7,k79 7,737 112 7 6 13 9 17,05k 18,239 ''5,11'' 892 835 673 232 200 , 52 19,1167 8U 9U 103 1955-December.. ''3,926 667 61. 18,663 93 6,1.57 1,207 5,36k 26 3,k99 7,789 97 1956 -J ulj AugUBt..., ''5,353 U6,05l' 67I1 19,229 19,610 1.5,831' 675 19,'^83 91 91 91 7,185 7,195 September 52 52 52 7,201. 1,211 1,206 1,203 5,k73 5,k69 5,k6l 6 6 6 3,567 3,609 3,586 7,751 8,026 7,95k 115 117 119 October,, November, December , It5,''a2 673 660 67U 50 50 50 19,233 91 92 7,207 7,197 7,215 1,198 1,19k 1,191 5,k57 5,k51 5,kk5 6 6 7,905 8,076 8,096 50 50 50 18,980 19,067 19,189 98 100 7,221. 1,189 1,1a 112 207 5,kk3 5,k38 5,k31 6 6 1,178 6 7,936 7,9kl 7,807 130 132 136 50 50 13,798 19,1.06 96 100 7,228 7,217 7,216 7,175 3,535 3,519 3,510 3,k69 3,k92 3,k79 127 19,3''5 19,221. 1,173 1,165 309 358 5,k22 5,kl6 5 5 3,k20 3,39k 7,693 7,990 122 113,250 1.5,722 ''5,639 67'. 1957-Ja^uary,.. February , March 1.5,1.70 7U1 720 '•5,603 702 110 April Maj '•5,151 l'6,137 706 706 251 ''5,331 11.2 95 9U Source; Dailj Treaeury statement, 1/ Includea Canal Zone Postal Savings System, 2/ Consists of: Adjusted Service Certificate Fund through December 1956, 65 6 2k 79 132 133 121 various housing Insurance funds, Parm Tenant Mortgage Insurance Fund through March 1956, aod Veterans' Special Term Inaurance Fund, Table 4,- Computed Interest Charge and Computed Interest Rate on Federal Securities (Dollar amounts in mlllione) Treasury Bulletin Ig DEEPT OUTSTANDING AND TREASUEER'S ACCOUNT Table 5.- Treasury Holdings of Securities Issued by Government Corporations and Other Agencies i/ (In mllllanfl of dollars) July mr 19 DEBT OUTSTANDING AND TREASURER'S ACCOUNT Table 6.- Statue of the Account of the Treasurer of the United States (In mllllonB of dollara) Treasury Bulletin 20 STATUTORY DEBT LIMITATION The second Liberty Bond Act, as amended (31 U.3.C. 757 b), provides that the face amount of obligations Issued under authority of that act, and the face amount of obligations guaranteed as to principal and Interest by the United States (except guaranteed obligations held by the Secretsu-y of the Treasury), shall not exceed In the aggregate $275 billion outstanding at any one time, ginning on August 28, 1954, and ending on June 30, 1956, by acts approved August 28, igslt, and June 30, 1955; ^^^ by $3 billion beginning on July 1, 1956, and ending on June 30, 1957, by an act approved July 9, I956. Obligations issued on a discount basis, and subject to redemption prior to maturity at the option of the ovmer, are Included In the statutory debt limitation at current redemption values, except that this amount was Increased by $6 billion be- Table 1.- Statue under Limitation, May 31, 1957 (In BLllllons of dollars) Haxlntn amount of securities which may be outstanding at any one tine, under lljnltatlcn Impoaed by the act of Juno 26, I9U6 (31 U.s.C. 757 b), as increased temporarily by the act of July 9, 1956 276,000 Amount of securities outstanding subject to such statutory debt limitation: U. S. GoTemuent securities Issued under the Second Liberty Bond Act, ae amended 27U 786 1^3 Guaranteed securities (excluding those held by the Treasury) Total amount of securities outstanding subject to statutory debt limitation Balance les^aable under llmltatloQ Source: 3,111 Daily Treaaury statement. Table 2. 27U ,889 Application of Limitation to Public Debt and Guaranteed Securltl es Outstanding May 31, 1957 (In milllone of dollars) Claae of securltj July 1957 21 .DEBT OPERATIONS. Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding May 31, 1957 (Id Billions of dollara) Treasury Bulletin 22 .DEBT OPERATIONS. Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities Issued by the United States Government and Outstanding May 31, 1957 - (Continued) (In millions of dollars) 9 8 5 u July 1957 23 DEBT OPERATIONS. Table 2.- Offerings of Treasury Bills (Dollar amounts In mllllosis) Deacrlption of Maturity date Number of daya to maturity Amount of blda t<i^ared ] Anount of bids accepted Total amount On ooBQ>etItlTe basle On nonconipet ItlTe baalB l/ In exchange Anount maturing on laeua data of new offering Total ixma* tured lesuaa outa tending after new laauea Regular Seriea: 1957-Feb. 7 1957 -May Feb. ll> May 91 91 2,626.0 2,718.7 1,700.2 1,700.5 1,379.3 1,358.6 320.9 32 .It 3'>1.9 72.1 1,600.7 1,601.0 1,7119.9 reb. 21 Iieb. 28 Mar. 7 Mar. lit Mar. 21 Mar. 28 Apr. U*. Aft. 11 Apr. 18 Apr. 25 May May May May May e 9 16 23 31 June 6 p June 13 P juiK 20 p June 27 p May May Jxaie 23 31 91 92 2,579.7 6 91 91 91 91 2,768.8 2,829.3 32 2,369.1 2,562.1 2,939.0 2,706.7 2,a28.u Juie 13 Jme 20 Jisie 27 July 5 July 11 July 18 July 25 91 91 91 Aug. 1 Aug. 8 Aug. 15 Aug. 22 Aug. 29 91 91 91 91 90 Sept. 5 Sept. 12 Sept. 19 Sept .26 91 91 91 91 2,7'il.2 2,7'i3.6 2,6li8.3 a, 581*. 2,1(87.8 2,531.3 2,61t7.7 2,U6l.7 2,686.6 1,799.8 1,801.7 1,800.5 1,802.2 1,603.8 1,600.7 1.603.5 l,6u.li l,600.1t 1,600. It 1,702.0 1,699. It 1,700.0 1,800.0 1,800.5 1,U70.6 1,502.8 329.2 298.9 1,'>91.3 309.2 357.5 397.6 28.7 63.8 3I17.5 31.5 332.6 378.8 36 .U l,lilil>.7 1,206.3 1,253.2 1,270.9 1,232.6 1,188.0 1,236.7 50. 57.li li3.lt .It It8.0 363.7 U3.8 33.8 l,li90.0 336.5 322.6 321.0 310.1 1,5111.2 286.lt 1,1190.3 309.3 365.0 52.9 55.5 31.6 1,226.3 1,199.5 37lt.O Itl.U uoe.2 39.5 110.5 116.5 398.5 38.2 73.1 1,365.5 1,376.8 1,379.0 2,511'. 1,799.6 1,799.9 1,600.3 1,601.6 2, It 13. 1,601. It 1,1190.9 2,302.0 3,689.1 l,7lt9.9 1,633 -It 1,102.2 2,l>llll.0 103.6 l,lt3lt.9 It 12 32.lt 28.3 9lt.8 2/ 1,599.8 1,600.1 1,600.0 1,600.0 1,600.3 l,6lU.6 22,767.6 22,867.0 21,117.1 21,317.1 21,518.7 21,719.2 21,921.li 21,92l».9 21,9U.l 1,600.0 1,600.5 1,600.5 1,600.5 21,925.6 21,925.5 1,700.2 1,700.2 1,700.5 1,799.8 1,801.7 21,927.1 21,926.3 21,925.9 21,926.1 21,925.0 1,800.5 1,802.2 1,603.8 1,600.7 21,92lt.0 21,9111.6 21,925.1* 21,921.8 21,918.2 21,919.1 Tax anticipation Berlea: 1957-Jan. 16 Fob. 15 May 27 June June Sept 21* 2h 23 159 129 119 1,500.7 1,601. It 3,351.3 11,852.0 3,351.3 y 1,500.7 Treasury Bulletin 2k DEBT OPERATIONS. Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness Amount of subscript Ions tendered Ijata Date of sutecrlptlon vere openad l)ookB Desorlptloa of security Issue 2/15/53 2/15/53 2/2/53 y Maturity 2-1/U* Certificate - Bond Z-l/2'f, 2/l5/5'.-A 12/15/58 i/ 1 First call Cash 1/ ''/1/53 1-1/2* Note 1./1/58-EA 5 yr ''/13/53 5/1/53 3-1/1.* Bond 6/15/78-83 30 yr 5/20/53 6/1/53 2-5/8* Certificate - 6/1/51. -B 1 yr 7/6/53 7/15/53 2-1/2* Certificate - 3/22/51.-C 10 Sxohange For caah 1/ In exchange for other securities (In mlllloQe of dollars) 8,11U 8,111. 620 620 yr 5 JT Amount Issued m 383 li m 25 yr iW 5,250 363 '.185/ 1,188 1.18 I., 8,687 5/ 858 5,902 (tax ant. 2/) 8/5/53 8/15/53 2-5/8* Certificate 9/2/53 9/15/53 9/15/53 2-5/8* Certificate 2-7/8* Note y 10/26/53 11/18/53 . 2/1/511 - 8/l5/5k-D 1 yr 2,768 9/15/51. -E 1 l.,72l. '.,72'. 3/15/57 -A 3 yr yr 2,997 2,997 6 m m 10/1/53 l-l/2?t Note 10/1/58-EO 5 yr 11/9/53 2-3/".* Bond 9/15/61 7 yr 10 12/1/53 2/15/53 1-7/8* Note 2-1/2* Bonl 12/15/511-B 1 yr 5 yr 10 2/15/5'. 2/15/5'. 1-5/8* Certificate 2-1/2* Bond 2/15/55-A 11/15/61 yr 7 yr './1/5'. 1-1/2* Note 1./1/59-EA 5 yr 5/17/5'. 1-7/8* Note 2/15/59-A It yr 5/17/51. 1-1/8* Certificate 5/17/55-B 1 yr I I 1 12/15/58 i/ i 2,788 121 i. 8,175 8,175 in 1,71.8 1,71.8 m 7,007 11,177 7,007 11,177 1 9 121 2,239 12,5'.3 . y 5A/5I' 5/5/51. 7/21/5'' 8/2/51. I 1* - Certificate 119 9 m 2,205 2,897 3,886 7i m 3/22 /55-C 119 9,750 2,897 3,886 9,250 3,73'. (tai ant. 11/) 8/3/5'. . 9/23/5'. y 8/15/5'. 8/15/5'. 1-1/8* Certificate 2-1/8* Bond 10/I./51. 1-5/8* Note 10/1/5'. 1-1/2* Note 11/22/5'. 8/15/5'. 12/15/5'. 12/15/5'. 2/1/55 2/15/55 2/15/55 2/15/55 3/22/55 - - 1-1/8* Certificate l-l/l.* Certificate 2-1/2* Bond - 1-5/8* Note Note 2* Bond 3* './1/55 1-3/8* Certificate './1/55 1-1/2* Note - 8/15/55-D 11/ 11/15/60 1 yr 6 yr 3 5/15/57-B 2 yr 7i B 10/1/59 -fX) 5 yr 99 99 8/15/55-D 11/ 12/15/55-E 8/15/63 yr 1 yr 8 yr '.,919 l.,919 5,359 6,755 5,359 6,755 3/15/56 -A 8/15/57-0 2/15/95 12/ 1 yr 2 yr UO yr 8, ".72 8,1*72 3,792 3,792 3,558 3,806 m 8,190 1 6/22/55-F 1 6 3,558 3,806 l.,155 m m 1,921. 2i m 1,921. 7,938 3,210 (tax ant. 16/) t/ Note 5/3/55 5/17/55 2* 7/8/55 7/18/55 1-7/8* Certificate - './1/60-EA 5 yr 8/15/56-B 11/ 1 198 yr 3,989 3/22/56 -A 198 2,532 3,1711 10,620 3,171* 2,202 (tax ant. 12/) 7/U/55 8/1/55 3* 2* 5/17/55 2* 2/15/55 7/20/55 10/3/55 10/11/55 Bond 2/15/95 12/ Certificate (tax ant. 22/) Note 2-1/1.* Certificate - 1.0 yr 6/22/56-B 8/15/56-B il/ 1 yr 6/22/56 -c 821 1,720 lOi m 1,1.86 1,1.86 3 m 6,8Ul 6,81*1 8 m 8,778 2,970 (tax ant. 22/) 10/1/55 1-1/2* Note n/26/55 12/1/55 12/1/55 2-5/8* Certificate 2-7/8* Note - 12/1/56-D 6/15/58-A 2i/ 3/5/56 12/1/55 2-5/8* Certificate 2-7/8* Note - 3/5/56 2/15/57 -A 6/15/58-A St/ 2 yr 5 yr !t/ 10/1/60-H) './1/56 1-1/2* Note 1./1/61.EA 7/16/56 7/I6/56 2-3/".* Note 8/1/57-D 8/6/56 8/15/56 2-3/1.* Certificate - !i/ (tax ant. !i/ 10/1/56 1-1/2* Note 12/1/56 m 9,063 2,283 lli m 6 m 7,219 2,109 7,219 2,109 lU'. lUl. i m 12,056 12,056 1 3/22/57-B 7 lO/l/61-EO 2/11./58-A] g, fl yr 5/15/60.AJ22/ 13 yr '2/15/57 2/15/57 3-3/8* Certificate 3-1/2* Note - 2/lU/58-Al2«/ (1 yr ii 7T 1-1/2* Note 5/1/57 5/1/57 3-1/2* Certificate 3-5/8* Note Footnotes on follovli^ pece. 10,613 5 yr - 1-/1/57 m 3,221 2^/) 3-3/8* Certificate 3-1/2* Note [ 6 yr 12/1/56 . 5/6/57 278 9,083 2,283 2/15/57 2/15/57 ' 2/'./57 !i/ 278 yr 2 yr 1 3-1/1.* Certificate (tax ant. 21/) 3-1/1.* Certificate - 11/19/56 3/18/57 5 yr 10/1/57-D 5/15/60-AJ^ 1./1/62-EA - 6^ m 6/2U/57-C 10 5 1. m yr 332 1,312 7,271 7,271 6,U1U 8,Ul!. 1,1.6U 1.1.61. 7,'.89 P 3 m yr 1./15/58-B 2/15/62-A 3 m 332 1,312 ,1.37 P 91.2 p 5,866 p 80 lli m 9i 31 80 2,351 V 2.351 P 6I.7 61.7 P P 2/ . • July i957 25 .DEBT OPERATIONS. Footnotes to Table 3 Source: Bureau of the Public Debt. Preliminary figures are from subscription and allotment reports; final figures are on "clearance" basis in daily Treasury sta'tement. 1/ Consists of all public cash subscriptions and subscriptions by United States Govermaent investment accounts. 2/ 2/ For maturing securities exchanged for the new issues see Table 5The 2-1 /2i bonds dated February 15? 1953 > were reopened with all the bonds of the series identical in all respects as an exchange offering for the 2-l/8^ notes which matured December 1, 1953 Total exchanges in the two offerings amounted to $2,368 million. Exchange offering available to owners of nonmarke table 2-3/l|.$ Treasury Bonds, Investment Series B- 1975-80, dated April 1, 1951For further infornfition on the original offering see "Treasury Bulletin" for April 1951j page A-1. Amounts shown are as of June 30. 1957. The bond offering was made available for exchange of Series F and G savings bonds maturing from May 1 through December 31 » 1953T^tal allotments on cash subscriptions were limited to approximately $1,000 million, Nonbank subscriptions in amounts up to and including All other subscriptions were allotted $5,000 were allotted in full20 percent. Commercial banks' subscriptions were restricted to an amount not exceeding 5 percent of their time deposits as of December 31 1952. The Treasury also reserved the right to allot limited amounts of these bonds to Government investment accounts, which subscribed to a total amount of $118 million Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due March 15. 1951+ Subscriptions for amounts up to and including $100,000 were allotted in full. Subscriptions for amounts over $100,000 were allotted 67 percent but in no case less than $100,000. Subscriptions for amounts up to and including $10,000 were allotted in full. Subscriptions from mutual savings banks insurance companies, pension and retirement funds, and State and local governments were allotted 24- percent. All others, including commercial banks, were allotted 16 percent but not less than $10,000 on any one subscription. Subscriptions for amounts up to and including $10,000 were allotted All other subscriptions were allotted 22 percent but in no in full. case less than $10,000. Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due March 15, 1955. Subscriptions for amounts up to and Including $50 ,000 were allotted Subscriptions for amounts over $50,000 were allotted in full. 1+0 percent but in no case less than $50,000. The 1-1^8% certificates dated August 15 > 1951+ . were reopened with all the certificates of the series identical in all respects, as an exchange offering for the 1-7 '8% notes which matured December 15, 1951+ , the 2% bonds which natured December 15, 1954. and the 2% bonds which were called for redenption on December 15, 1951+ Total exchanges in the two offerings amounted to $8,1+77 million. Subscriptions for amounts up to and including $50 ,000 were allotted in full. Subscriptions for amounts over $50,000 wer3 allotted 50 percent but in no case less than $50,000. The "}% bonds dated February 15 » 1955 » were reopened with all the bonds of the series identical in all respects, as an additional cash offering on July 11, 1955. The total amount issued in the two operations was $2,71+5 million. ^ 6/ 12/ i , _ \/ 1^ 18/ 12/ 20/ 21/ j 2/ 8/ 2/ 22/ 22/ j 10/ 11/ 12/ 13/ ^t/ 25/ 26/ 22/ 28/ . 11^/ 15/ 29/ p Also designated tax anticipation certificates, acceptable at par plus accrued interest to naturity in payment of income and profits taxes due June 15, 1955. The 2% notes dated May 17, 1955, were reopened with all the notes of the series identical in all respects, as an exchange offering for the 1-1 '856 certificates maturing August 15, 1955. Total exchanges in the two offerings amounted to $10,015 million. Cash subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100 ,000 were allotted 62 percent but in no case less than $100,000. Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due March 15, 1956. Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 19 percent but in no case less than $100,000. Subscriptions from savings-type investors totaled $7l+9 million and were allotted 65 percent. Subscriptions from all other investors totaled $970 million and were allotted 30 percent. Subscriptions for $25,000 or less were allotted in full. Subscriptions for more than $25,000 were allotted not less than $25,000. In addition to the amount allotted to the public, $25 million of the bonds were allotted to Government investment accounts. Savings- type investors were given the privilege of deferring payment for the bonds , provided that not less than 25 percent of the bonds allotted were paid for by JxQy 20, 1955. not less than 60 percent by September 1, 1955, and fxill payment by October 3. 1955. Also designated tax anticipation certificates, acceptable at par plur accrued interest to maturity in payment of income and profits taxes due June 15, 1956. Subscriptions for $100,000 or leas were allotted in full. Subscriptions for more than $100,000 were allotted 32 percent but in no case less than $100,000. The 2-7^8% notes dated December 1, 1955. were reopened with all the notes of the series identical in all respects, as a partial exchange offering for the 1-5 '8% notes imturing March 15, 1956. Total exchanges in the two offerings amoxinted to $1+ ,392 million. Also designated tax anticipation certificates, acceptable at par plus accrued interest to neturity in payment of income and profits taxes due March 15, 1957. Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 29 percent but in no case less than $100,000. Also designated tax anticipation certificates, acceptable at par plus accrued interest to maturity in payment of income and profits taxes due June 15, 1957. The 3-3 '856 certificates dated February 15, 1957, and the 3-1/256 notes dated February 15. 1957, were reopened with all the certificates and notes of each series identical in all respects, as an additional cash offering on March 18, 1957. Total issues in the two offerings amounted to $10,851 million for the certificates and $2,1+06 million for the notes. Subscriptions in excess of $100,000 were allotted 31 percent for the certificates and 12 percent for the notes. Subscriptions for $100,000 or leas for both issues were allotted in full and subscriptions for more than $100,000 were allotted not less than $100,000. In addition to the amount allotted to the public, $100 million of the notes were allotted to Government investment accounts, Preliminary. 26 Trcnsurij Bulletin .DEBT OFERATlOMb. Table 4.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness i/ {In millloas of dollare) Issue July m7 27 .DEBT OPERATIONS. Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness Date of 26 Treasury Bulletin .DKBT OPERATIONS. Table 5.- Dlepoeltlon of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness Called or maturing eecurlty l/ Date of refunding or retire- lasiie Description date ment 3/5/56 3/15/56-ft l-l/2)S Note U/l/se-EA 2/15/55 './I/51 Totel Amount outstanding Cash retirement 8, 117a 8, 1.72 11,528 528 860 2-3Aif Note 12,938 12,056 882 6/22/56 2-lA* Certificate 6/22/56-0 10/11/55 2,970 l,'t66 is/ 2,970 15/ 7/16/55 2J Note e/15/56-B lO/l/56-BO 5/17/55 10/1/51 12,5^7 550 13,097 159 9/15/56-59 9/15/36 988 98e 12/1/56-D 12/1/55 9,083 159 16/ 9,083 1 '2-5/8J Certificate 2/15/57 -A 3/5/56 7,219 7,219 2-7/8% Note 3/15/57-A 9/15/53 2,997 2,997 1,312 7,271 6,39'' I 920 531 531 522 10,7U7 10,7't7 9,878 500 J . 2-3A* Certificate - 3/22/57-B 8/15/56 3,221 1-5/8* Note - 5/15/57-B IO/1./5U "•,155 6/2U/57 3-l/Ult Certificate - 3-3/8* Certificate 3-1/2* Note }578 3-3/8* Certificate 3-1/2* Note 8/15/56 1,312 It, 10/1/57-D 3-3/8* Certificate 8,UlU 870 I,ll61l of 3-3/8* Certificate of 3-1/2* Note 155 2,351p 1,157 P [3-1/2* Certificate (3-5/8* Note - lt/15/58-B - 2/15/62 -A 1,312 12/ Source: Bureau of the Public Debt Debt. Preliminary figures RTe from eubBcrlptlon and allotment reporta; final figures ere on "clearance" baala In dally Treasury statement 1/ Original call and maturity dates are used, 2/ All by InTeatore other than Federal Beaerve Banks. 2/ For breakdown of total exchanges between the two new securltloa. Bee table 3 U/ The 2-1/2* bends maturing December 15, 1958, were reopened for the December 1, 1953, refunding (see Table 3). On November 9, 1953, the Treasury ptn-chased from the Federal Reeerre Astern and retired $500 million of the 2-1/8* Treasury notes maturing December 1, 1953. For further detail see "Treasury Bulletin" for November 1953, Page A-1. 6/ It had been announced that holders of these bonds would be given an opportunity to exchange them for another Treasury Issue after February 15, 195^*. Thia exchange offering was Included In the refundIngs of May 17, I95I1. Tax anticipation series; $2,669 million redeemed for taxes due 2/ March 15 195lt, and $3,233 million redeemed for caah. 8/ The 1-1/8* certificates maturing August 15, 1955, were reopened for the December 15, 195lt, refunding (see Table 3). 2/ Tax anticipation series; $2,2l6 million redeemed for taxes due March 15, 1955, and $1,518 million redeemed for cash. ^ 10/ 6/2I./57-C 11/ 3,221 18/ 6li7p 6/214/57-C 8/1/57-D S-l/"** Certificate 3-1/''* Certificate 28a I . 5/15/57 2/l5/;7-A 22 51*3 ri,'»98 I 3/22/57 - 2/15/57-A 6/15 /58-A li/ 12,388 550 2,202 ji/ 1,1*86 ''/I/52 2-5/8* Certificate - 7,219 of 2-5/8* Certificate 2,109 of 2-7/8* Note 2,202 lt/l/57-EA - 2 8/1/55 l-l/2)t Note 2-5/8J Certificate 2-7/8* Bote 151 7/18/55 Total 1U8 1,005 3/22 /56-A 2/15/57 6,215 2,109 9,328 6/22/56-B 2-5/85; Certificate f 1 1,007 Certificate 12/1/56 doUara 9,'t79 l-7/8)t Certificate 2-3/lt$ Bond Description of nav eecurlty offered Turned in for cash 2/ 1,007 25t Total Exchanged g.ityg 3/22/56 9/15/56 Results of exchange offers Exchai^e security offered 6/22/56 l-l/25( Note (Continued) Dlopoeltlon offers ty Treasury (In mllllona of 1-5/8$ Note - The 2* notes maturing August 15, 1956, were reopened for the August 1, 1955, refunding (see Table 3). H/ Tax anticipation series; $1,917 million redeemed for taxes due June 15, 1955, and $1,293 million redeemed for cash. 12/ Also designated tax anticipation certificates, acceptable at par plus accrued Interest to maturity In payment of Inccme and profite taxes due June 15, I956. The 2-7/8* notes maturing June 15, 1958, were reopened for the March 5 1956, refunding (see Table 3). Tax anticipation series; $1,67U million redeemed for taxes due March 15, 1956, and $528 million redeened for cash, Tax anticipation series; of the 2* certificates $1,013 million were redeemed for taxes and $U73 million for cash; and of the 2-1/1** certificates $1,891 million were redeemed for taxes and $1,079 million for cash. During June 1956, $159 million of 2* Treasury notes, maturing August 15, 1956, were purchased by the Treasury for account of the Sinking Fund and retired Also designated tax anticipation certificates, acceptable at par plus accrued Interest to maturity In payment of Incane and profits taxes due June 15, 1957. Tax anticipation series; $1,922 million redeemed for taxes due March 15, 1957, and $1,299 million redeemed for cash. ii/ lU/ i^ 16/ iX/ 18/ 19/ p Tax anticipation series; approximately $620 million redeemed for taxes due June 15, 1957, and approximately $692 million redeemed for cash. Preliminary. July 1957 29 .UHTCED STATES SAVIHGS BONDS. United States savings bonds were first offered In of these ohtinges appear In the May 1952 Bulletin, page A-1. March 1935 an^ began to mature In March 19'^5- Series A-D were sold between March I935 and the end of April iglt-l, and Series E, F, and (J were first offered In May 19'*1. When Series E began to mature on May 1, 1951 > owners of f"°'' ^^^ Series T and O began to mature on May 1, 1953exchange offering made to holders of these bonds maturing the matured bonds were offered three options: An Increase In Interest rates on Series EandH vas announced on April 20,1957, retroactive to February 1. Details of the changes appear In the May 1957 Bulletin, page A-1. In To redeem the bonds In cash In accordance with the original terms; to retain them with an extended maturity of 10 years at through December 3I, 1953» see the May 1953 Issue, page A-1. Sales of Series JandK were dlsoontlnuedafter April 30,1957. specified rates of Interest accrual; or to exchange them the tables which follow, Series A-F and J sales are Included A number of changes became effective The principal ones were: The rate of May 1, 1952. Interest accrual on Series E was increased, especially for at Issue price and total redemptions and amounts outstanding the near term, with corresponding changes In extended were replaced by two new Series E; and Series F and have been redeemed are Included In redemptions. Matured F and G bonds outstanding are Included In the Interestbearing debt until all bonds of the annual series have matured, when they are transferred to matured debt upon which Interest has ceased. for Series bonds. Series J and K, also at higher Interest rates. similar In Interest return to Series E, was offered beginning June 1. Details Issues, A nev current- Income bond. Series H, Series 0, H, and K are at current redemption values. Included at face value throughout. Matured bonds which Table 1.- Sales and Redemptions by Series, Cumulative through May 31, 1057 (Dollar amounts In millions} 30 Treasury Bulletin .UNITED STJffiES SAVINGS BONDS. Table 3.- Sales and Redemptions by Periods, Series B through K (In llllona of dollare) Accrued discount Bedemptions hj Sales plus accrued discount Sales price ^ §/ I Anount outstanding Accrued discount §/ Interest-bearlne deM Series E and E cooblned yiacal years; 191.1-191*9 1950 1951 1952 1953 51*, 701* 2,771* 57,1.79 21., 351 3,993 3,272 3,296 U,06l 895 1,035 U,887 U,307 l.,255 1,U1 i.,l.07 5,181 5,779 3,521 U,008 U,038 23,856 3,326 3,987 3,583 3,538 3,791 3,909 1/ '*,653 1955 1/ 1956 5,225 1,120 1,126 1,123 6,31*8 l.,5l*l* -5,260 1,111. 6,371. l*,730 l.,072 26,097 3,912 l.,270 l*,036 l.,69l. 5,1.96 11,098 l*,157 1951. l.,889 3,201 971 1,080 1,120 1,128 1,126 59,863 U,639 1953 56,662 3,668 3,190 3,575 U,368 6,015 l*,Ul*U 25,510 3,667 3,688 3,622 3,625 3,909 1955 1956 5,368 1,113 6,1*81 1,121. 6,167 l»,652 l*,832 3,91.9 5,01.3 1*1*3 112 85 85 555 ue7 1*31 1.20 80 88 1.70 111* 1.77 115 85 86 580 W.5 81 87 1951* l*,3l*5 1.96 33,127 195 307 31., 1*91* 1.25 31* 500 3U,506 ,905 551* 36,01*8 37,1.82 636 658 1.0,929 39,285 Calendar years: I9I.I-I9I.9 1950 1951 1952 Months 1956 -July August . September , 1*03 335 October . NoTsmbar December. 390 366 363 1957-January. February. March.... 1*65 April May 361 365 372 388 588 33,766 21*5 31*, 1*93 727 31.8 31*, 1*76 35,321* 36,663 38,233 U,l6U 531 535 702 668 376 357 55 57 380 1.U 368 392 1.IU 1*0,063 1*1,398 1.1,053 1*1,126 1*1,166 332 1.8 353 310 57 58 31*5 1.7 1*1,226 1*1,312 1*1,398 51.7 1*86 60 1*1,1*30 353 73 1*51 U26 U38 370 68 Ul,l*50 Ul,l.63 1*53 U69 1.05 61. 1*1,U1.7 U76 1*50 379 71 1.1,1.72 1.51. Matured debt July 1957 31 .UNITED STATES SAVINGS BONDS. Table 3.- Sales and Redemptions by Periods, Series E through K -(Continued) (In mllliona of dollar a) Accrued dlecount riscal joaTB! Sales plue accrued discount Bedemptlons 2/ Sales price '2J {•/ y Accrued discount ^ Amount outstanding C Interestbearing debt) 32 Treasury Bulletin .UNITED STATES SAVINGS BONDS. Table 4.- Redemptions of Matured and Unmatured Savings Bonds (In mllllone of dollars) Matured bonds Total niatxxred 6/ Series A-D For cash FJBcal yearel 1951 1952 1953 195I1 1955 1956 817 779 792 1,761 90 31 IS 6,137 5,109 5,621 6,515 7,251 2,71.7 3,91.1 7,81.6 I., 11. 263 11 987 987 518 38 702 1,128 1,1.87 i,as6 1,917 Calendar years: 1950 1951 1952 1953 195^ 1955 1956 Uanatured bonds Series E Period 2/ 5,81.0 5,651 772 5,071. 6,11.9 1,015 2,313 3,171 21. 11. 968 1,328 1,500 l.,230 13 2,01.7 l.,2U6 10 1,891 6,985 7,301 8.26U Months 1956 -July August. ., September 71.9 381. 58e 523 312 October.., NoTenbcr.. December., 6W1 692 728 1957-Januarj . . February . March.... 1,0-0 723 723 U25 387 April.... May 707 737 296 359 207 2b6 30£ 301 31.1 1.7 251. 37 691. 1,126 1,U86 1,885 1,917 In exchange for Series G and K Series F and G Total uonaturvd 5/2/ Selee price ^ Accrued discount July m7 33 .OWNERSHIP OF FEDERAL SECURITIES. Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues (In millions of dollars) Treasury Bulletin 3"^ .OWNERSHIP OF FEDERAL SECUKITIES. Table 3.- Estimated Ownership of Federal Securities (Far values l/ In End of month 1939-December . 2.5 6.5 22.7 1.9 8.2 6.3 3.1 . 2.5 2.2 7.1 7.6 22.8 23.9 10.1 10.6 2.6 2.8 7.5 7.8 6.5 6.9 3.1 3.2 2.1 2.0 .5 55.3 6U.3 21.8 23.7 8.5 9.5 25.0 31.0 11.2 13.6 7.1 8.2 2.0 .6 5.1. 7.6 8.2 3.1* 21.1. 2.2 2.3 3.6 . 3.7 1..0 .7 77.0 28.7 26.0 13.1* 9.2 11.3 I* 23.7 8.7 10.3 3.9 U.l 37.7 53.0 9.1 "17.3 10.6 12.2 17.8 U2.5 2.6 6.2 ll»0.8 59.1' 16.9 30.9 37.6 U.7 71.5 67.0 81.7 19.2 170.1 7.2 11.5 ll».3 . 52.2 59.9 21.. 12.9 13.1 15.1 83.3 96.5 68.1. 1I..9 . 202.6 232.1 77.7 18.8 19.1 21.7 100.2 llU.O U6.1 53.3 31.2 36.2 14.9 17.1 106.0 115.0 81. 21.8 21.. 1.0.7 90.8 21.. 27.0 128.2 136.6 59.1 . 259.1 278.7 61.. 1.2.9 18.5 21.2 279.8 269.9 259.5 116.7 108.2 97.9 93.8 22.9 23.8 135.1 132.6 130.7 61.. 1*3.3 20.8 63.3 61. .2 1*3.5 1*1* .2 258.1. , . 19ltlt-June . I9'i5-June 2/ June December . . I9't7-June December. . 257.0 . . 252.9 252.lt 19'<8-June December . 17.3 19.7 .2 .1* .9 .9 l*.5 10.1 1.0 5.3 6.1 12.9 1.5 2.1 17.3 19.6 7.3 8.3 20.2 3.2 21.1. l*.3 22.7 21*. 9.6 10.7 23.3 22.2 5.3 6.5 21*. I* 11.1 19.9 21*. U.5 20.1 21* .9 11.8 19.9 17.8 15.3 6.7 6.5 6.3 .6 16.1* 71.. 23.3 91.9 91.3 70.0 68.7 21.9 22.6 32.8 3U.U 133.7 131.3 66.6 65.7 1*5.5 1*6.2 21.1 21* 19.1. 23.9 12.1 12.0 13.7 lU.l 7.1 7.3 85.9 85.8 61. .6 21.1. 23.3 35.8 37.3 130.7 129.7 65.8 65.5 1.7.1 1.7.8 18.6 17.6 22.8 21.2 12.0 11.5 13.6 62.5 11.. 7.8 7.9 1.8.8 17.8 17.0 20.5 20.1 11.6 1.9.3 11.1* 15.8 16.8 8.0 8.1 1.9.9 1.9.6 17.6 16.7 19.8 18.7 11.6 10.9 18.1. 19.7 8.7 8.8 1.9.1 1.9.1 16.3 15.5 17.1 16.5 10.2 9.8 20.1 20.7 9.6 81. .U 252.8 257.2 82.l> 63.0 66.8 19.3 18.9 38.3 85.7 39.1. 132.2 132.1 66.6 66.3 65.6 61.8 18.3 37.8 39.2 135.6 67.1. 20.8 131*. 66.3 132.9 131.8 61. .6 , .1* 28.0 29.1 30.9 . . 19lt9-June December. State and local governments 2/ 15.9 , December . Corporations 6/ 16.1 -June iglifi-Februarj Savings bonds Mutual savings banks 18. 19ltS-June December Inain*ance ccapanles 18.6 19.5 . December InTestnent accounts kj It7.6 I9''l-June December Federal Reeerre Banks clal banks 2/ Individuals 5/ U8.5 50.9 December . 19lt3 Held by private oonbank Investors U. S. GoTemnent . 19)10 -June December of doIl«a-e) l)i^J.lonfi Bold by banks Total Federal securities outstanding 2/ 1950 -June December. . . 257 .< 256.7 83.9 82.6 1971-June December. 255.3 259.5 81.1. 58.1. . . 85.'* 61.6 23.0 23.8 1.2.3 1952 -June December . 259.2 267. 8I1.O 61.1 22.9 1.11.3 130.8 61. .8 1.9.0 . . 88.1 63 .U 21.. 1*5.9 133.1* 65.1 1.9.2 15.7 16.0 15.7 16.1 9.6 9.5 18.8 19.9 11.1 266.1 275.2 83.6 89.6 58.8 63.7 21.. U7.6 1.8.3 66.0 6U.8 16.8 25.9 135.0 137.3 1*9.3 . 1*9. 15.1. 16.0 15.8 9.5 9.2 18.7 21.6 12.0 12.7 271.3 278.8 88.7 63.6 69.2 25.0 1*9.3 1.9.5 63.0 50.0 9.1 8.8 16.9 19.8 13.9 1*9.6 15.0 13.1 15.3 21.. 133.3 135.1 61.. . 1955 -March June September... December.... 27't.l 87.8 87.1 85.9 86.8 61. 23.6 23.6 23.8 2U.8 1*9.1. 136.9 136.7 6U.8 6U.8 65.5 6U.9 50.2 50.2 50.2 50.2 1I..7 19.5 19.3 21.2 11..7 11* 8.8 8.7 8.7 8.5 11..6 1U.6 15.3 15.0 IU.8 15.0 1956 -January 280.1 280.2 276 .ll 23.5 23.5 23.6 51.7 51.8 51.9 1UI*.5 65.9 66.5 67.2 50.3 15.6 16.2 16.8 11..2 50.3 1953-June December.. 195'' -Juno December. February . March . . . 2711. 277.5 280.8 9't.l 81. .0 83.0 81.9 .2 63.5 62.1 62.0 60.5 59.5 58.3 1.1.0 50.5 51.2 51.7 11*2.3 11*5.3 1U2.6 67.1 67.1 66.9 50.1* 50.1* 15.0 .3 9.1* 10. lU.l. 21.. IU.7 IU.9 15.1 21.. 15.1. 13.9 13.6 8.5 8.5 8.5 21.1 15.6 15.7 16.6 16.7 16.6 13.6 13.5 13.3 8.5 8.U 8.U 21.1 21.5 18.0 15.7 15.8 15.7 16.8 16.9 17.1 13.3 13.1 13.1 8.1. 18.3 8.3 8.3 19.1 18.0 15.8 15.8 15.8 21* .U April May June 275.8 276.8 272.8 81.8 58.5 57.8 57.1 23.3 23.5 23.8 51.6 52.5 53.5 11*2.5 80.8 July 272.7 275.6 27U.3 79.9 81.5 81.3 56.5 57.6 57.6 23.1. 53.8 23.9 23.7 5'..'. 139.0 139.7 138.9 67.0 67.2 67.1. 50.3 50.3 50.2 275.'> 58.0 58.7 23.8 53.9 277.1 276.7 81.8 83.1 8U.3 2U.1. 51. 139.7 139.9 59.1. 21. 51.. 138.1. 67.2 67.0 66.6 50.2 50.1 50.1 17.0 16.9 16.5 13.2 13.1 12.8 8.1 8.1 8.0 19.0 19.8 19.2 15.8 15.8 15.7 276.3 276 .U 275.1 81.9 80.7 81.3 58.5 57.8 58.2 23.1. 53.9 11.0.6 51.. 11.1.6 1*9.7 16.6 16.6 .2 139.6 1*9.6 17.2 12.9 12.8 12.6 8.1 8.1 8.1 21.1 22.9 23.1 66.5 66.3 66.8 1*9.9 February.... March 19.9 15.8 15.8 16.0 April p 27l>.l 81.3 58.1 23.2 53.7 139.2 66.7 1*9.1* 17.3 12.5 8.0 19.8 16.2 Augwt Septaoiber . October November . December . . . . . . 1957-Januftr5 81.3 .9 51. 51. .2 .2 Source: Office of the Secretary, Analyela Staff, Debt Division. 1/ united States savings bonds, Series A-F and J, are included at current redemption value 2/ Securities Issued or guaranteed by the U. S. Government, excluding guaranteed securities held by the Treasury. For amounts subject to statutory debt limitation, see page 1. i/ Conelste of commercial banks, trust companies, and stock savings banks In the United States and In Territories and Island possessions. Figures exclude securities held In trust departments. h/ Holdings by Federal lend banks are Included under "Miscellaneous Investors" Instead of "U. S. Government Investment accounts" after June 26, I9I.7, when the proprietary Interest of the United Statee In these banks ended Includes partnerships and personal trust sccounts. Nonprofit ^ IkO.l. 65.1. IU3.0 138.5 50.1* 50.1* 22.1* Institutions and corporate pension trust funds are Included under "Miscellaneous Investors." Exclusive of banks and Insurance companies. Consists of trust, sinking, and Investment funds of State and local governments and their agencies, and Territories snd Island possessions. Includes savings and loan associations, nonprofit Institutions, corporste pension trust funds, dealers snl brokers, snd investments of foreign balances and International accounts in this country. Beginning December 191*6, includes investments by the Intemstlonal Bank for Eeconstruction and Development and the International Monetary Fund In special nonlntereat-bearing notes issued by the U. S. Government. Ijmnediste postwar debt peak. Preliminary. July 1957 35 .TREASURY SURVET OF OWHHRfflIP, MHIL 30, 1957. The Treasury Survey of Ovmership covers securities Issued by the United States Oovernment and by Federal agencies. The banks and Insurance companies Included In cial banks distributed according to Federal Reserve member- the Survey account for approximately 95 percent of such securities held by all banks and insurance companies In bank olasees and nonmember banks are published for June 30 and December 3I. Holdings by corporate pension trust funds United States. Data were first published for March 31, ISlH, In the May l^kl "Treasury Bulletin.' are publlehed quarterly and first appeaured In the March igjUBulletin for quarters beginning Dacenber 3I, l^Uq. the Distribution of ovmership by types of banks and Uisuranoe companies Is published each month. Holdings by commer- Section I.- Securities Issued or Guaranteed by the United States Government Table 1.- Summary of All Securities (Par Tallies • in mlllloaa of dollars J Treasury BuUetin 36 _a3?EASURy SURVEY OF OVflrERSHIP, APRIL 30, 1957. Section I.- Securities Issued or Guaranteed by the United States Government Table 3.- Interest-Bearing Public Marketable Securities by Issues (Par values - In millions of dollars) July 1957 37 .TREASURY SURVET OF OWNHRfflIP, kPRXL 30, 1957. Section I - Securities Issued or Guaranteed by the United States Government Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued) (Par rallies - In millions of dollars) Treasury Bulletin 3« _a3?EASURY SURVET OF OWNHRaETIP, APRIL 30, - Section II Interest-Bearing Securities Issued by Federal Agencies but Not Guaranteed by the United States Government (Par Taluee In mllllone of dollars) - Held snous't (Tax statua 2/ ^o shovzi In parentheses) (Debentures) iliy( taxable) (taxable) (Debentures) (taxable) (Debentures) (Debentures) ... .(taxable) Total banks for cooperative securities Federal home loan banks \>3 out stand ing 6,621 comnerclel banks 2/ i/ Inaurance companies mutual savlnge banks 2/ Investment accounts and Federal Reserve Banks Held by all other Investors 2lt 19 15 23 31 185 58 23 15/ (taxable) (taxable) (taxable) 77 16 123 166 21 28 3.70 3.70 September 1957 (notes) October 1957 (Hotes) (taxable) (taxable) 11.6 23 138 21 650 109 25 (taxable) 827 20lt 50 hcane U. S. Government U 3-7/8 Total Federal caaualty and marine lU 1957 (Hotea) 1957 (notes) 1957 (notes) 3-3A 315 life 56U fire, ko kO 50 55 May June July 3.20)6 InTestors corered In Treasury Survey 52 li Total Iran* BankB for cooperatives: June iit 1957 3-7/8 September 1957 3-3/lt October 1957 November 1957 3.80 1957. loan bank securities. 56 96 125 116 112 5OI1 Federal Intermediate credit banks: Debentures Federal land banka: 1-3/I** October 3.30 3-3A 3-7/8 2-3/I1 2 -l/U 2-l/U 2-l/lt 2-1/2 lt-l/8 3-1/2 3-7/8 19 5lt2 16/ 1955-57 (Bonds) 1957 (Bends) 1957 (Bonds) (taxable) (taxable) (taxable) 215 170 135 122 Bit May July "•5 115 30 91. February May November 1958 (Bonds) 1958 (Bonds) 1958 ( Bonds ) (taxable) (taxable) ( taxable lltO ItO 85 131 50 109 67 May February June 1959 (BoMs) i960 (Bonds) i960 (Bonds) (taxable) (taxable) (taxable) 71 li2 22 12lt 75 56 February 1967-72 (Bonds) May 1971 (Bonds) September 1972 (Bonds) (taxable) (taxable) (taxable) l81t 106 6li 1*3 It2 72 60 3 UO 1 1,519 575 73 (taxable) (taxable) (taxable) 100 100 200 23 18 11 61 "•3 k 19 77 132 taxable (taxable) (taxable) 570 250 200 339 65 28 215 151 lt9 22 12 It 538 97 Total Federal land bank securities 55 ua 96 1 27 30 8llt Federal national Mortgage Association: 3.35* 3.90 lt-l/8 May 1957 (Debentures) August 1957 (Debentures) September 1957 (Debentures) 2-1^ January h It. 10 February March 1958 (notes ) I958 ( Debentures ) I958 (Debentures) ( Total Federal National Mortgage Association securities 1/ 2/ i/ }*/ 5/ 6/ 7/ 5/ 2/ l,ll20 Includes certain obligations not subject to statutory debt limitation. For amo\mt subject to limitation, see page 1. Excludes trust departments, Includes trust companies and, beginning with figures for July 19U9 also Includes stock savli^s banks. Previously, those banks were reported aa a separate classification. Includes those banks and Insurance companies not reportli^ In the Treasury Survey. united States savings bonds. Series S, F, and J, are shown at current redemption value. They were reported at maturity value by the banks and Insurance ccmpanles Included In the Treasury Survey but have been adjusted to current redemption value for use In this statement. Includes $76 mlllloo depoeltary bonds held by ccBm»rclal banks not Included In the Treasury Survey. Holdings by reporting Investors not available. Excludes guaranteed securities held by the Treaeury. Federal securities fall Into three broad classes with respect to the Imposition of Federal Incone taxes on Incone derived from them. U 10/ 15/ i^ 17 10 759 "VftoHy" tax-exempt securities are those with the Inoow exempt frcm both normal tax and surtax. "Partially" tax-exempt securities are those with the Inccoe exempt fl-om the normal tax except that In the case of partially tax-exempt Treasury bonds. Interest derived fron $5,000 of principal amount owned by any one holder Is also exempt from the surtax. "Taxable" securities are those with the Income subject to normal tax and surtax. Includes Federal Housing Administration debentures! see footnote 12. Tax anticipation series. A small Indeterminate amount of these debentures la partially taxexempt . Inslules only publicly offered Issues. Central Bank for Cooperatives debentures. The proprietary Interest of the Ublted States in these banks ended In July 1951. The proprietary Interest of the Uhlted States in these banks ended in Jime I9U7. Less than $500,000. I July 1957 39 .MARKET QUOTATIONS ON TFEASURY SECURITIES, MAY 31, 1957. Current market quotations shown here are over-the- public marketable securities Issued by the United States counter closing bid quotations In the New York market Government except Panama Canal bonds. Outstanding Issues which are guaranteed by the United States for the last trading day of the month, as reported to the Treasury by the Federal Reserve Bank of New York. The securities listed Include all regularly quoted Qovernment are excluded because they are not regularly quoted In the market. Table 1.- Treasury Bills Amount outetandlng (allllonB) < Taxable ho Treasury Bulletin .MARKET QUOTATIOMS OR TREASURY SECURITIES, MAY 31, 1957. Table 4.- Taxable Treasury Bonds (Prioo declB&l« are 32iide} July 1957 hx Treasury Bulletin 1^2 ,AVER«JE YIELDS OF U)NG-TEIiM BONDS. Table 1.- Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Periods (Percent per annum) PART A.- Treaeury bonde l/ Moody's Aaa corporate bonds Treasury bonds 1/ Annual series 2.83 2.73 2.72 2.62 .Ii6 19't2 WliS .U7 19'»'t .1.8 191*5 .37 SEWES PRIOR TO APRIL 1953 - Ma; 2.7l» 2.98 2.71 2.70 2.93 2.96 2.93 2.93 2.61l 2.57 2/ Treasury bonds 1/ Moody's Aaa corporate bonds calendar year averages of monthly series 3.19 2.25 19''7. 2M 19''8. 2.31 19''9. Monthly series 195? -January.. February March.... April.... Moody's Aaa corporate bonds 1952 -June July August September. October . - 1950 1951 1952 2.32 2.57 2.68 2.62 2.86 2.96 1952 -November, December. 2.71 2.75 2.98 2.97 2.9'' 1953 -January . 2.80 2.95 3.01 February March. . . 2.83 2.89 3.02 3.07 3.12 2.53 2.61 2.82 2.66 averages of dolly series 2.61 2.61 2.70 2.71 2.7'> 2.9'' 2.95 July 1957 '^J .AVKIWGE YIELDS OF LONG-TEPM BONDS. S CM o -J 5 3 c i5 - to i3| .§. ^ •n 5 I ^ Treasury Bulletin M-if _IMTERHAL BEVENtJE COLLECTIONS. Table 1.- Summary by Principal Sourcee (In thouaaads of dollara) July 1957 ^5 .INTERNAL REVENUE COLLECTIONS. INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES DOLLARS Billions DOLLARS DOLLARS Billions Billions 42 Income Tax and Employment Toxes* Individual 40 38 36 34 5 32 30 2B 26 24 22 20 18 16 14 12 10 8 6 4 Vy > 2 I 1942 '44 '46 '48 •50 •52 -54 y. YA\ •56 Stginniiig wilh the fiscal reor 1955, includes undistnduled depositary receipts tar excise taxes is included under "oilier excise taxesT Olfic* of th» Secralary ol tht Traaiur) and unapplied collections. Thewltole amount at such receipts Trcasurij Bulletin 46 .UTTERNAL REVENXJE COLIZCTIONS. Table 2.- Detail of Collections by Type of Tax (In tfaoueanlB of dollars) . . July 1957 ^1 .MOHETAEY STATISTICS, Table 1.- Money In Circulation (In mm l one of dollars except as noted) Paper money Bid of fiscal year or aK>nth 19't9 1950 1951 1952 1953 195I' 1955 1956 Total money In circulation 1/ Total paper money Gold certificates 2/ Silver certificates Treasuzy notes of 1690 a/ anted States notes Federal Reserve notes Federal Beserve Bank notes i/ Hatlcnal bank notes i/ 27,493 27,156 27,809 29, 026 30,125 26,034 25,661 26,231 27,348 28,359 41 39 38 37 2,061 2,177 2,092 2,088 2.122 319 321 318 318 318 23,209 22,760 23,456 24,605 25,609 309 274 243 221 200 93 86 29,922 30,229 30,715 28,127 28,372 28,767 35 34 33 2,135 2,170 2,148 320 319 318 25,385 25,618 26,055 180 70 67 64 43 163 147 81 77 73 1955 -Deo ember. 31,158 29,231 34 2,155 314 26,506 155 66 1956 -July September 30,604 30,757 30,768 28,647 28,790 28,791 33 33 33 2,114 2,116 2,130 313 313 313 25,975 26,119 26,107 145 144 143 64 64 64 October. November December. 30,839 31,424 31,790 28,644 29,408 29,763 33 33 33 2,130 2,152 2,173 315 317 316 26,159 26,701 27,038 142 141 140 63 63 63 1957 -January.. February, March.... 30,614 30,575 30,585 28,623 28,582 28,585 33 33 33 2,033 2,039 2,065 304 309 315 26,051 26,001 25,974 138 137 136 63 62 62 30,519 30,836 28,499 28,807 33 33 2,099 2,164 315 322 25,855 26,093 135 62 133 62 Auglist April May . . ks Treasury Bulletin .MOKETAFY STATISTICS. Table 2.- Monetary Stocks of Gold and Silver (Dollar omomts In nilllons) Bid of f iBcal year or nonth Sold (»35 per floe ounce) Silver (»1.29+ per fine ounce) .. , July m7 1^9 .MOKETAEY STATISTICS. Table 4.- Components of Silver Monetary Stock (In mllllonB of doUara] Silver held in Treaaury Kid of calendar year or month Securing eilver certificates Ij 19't9 , 2,003.2 2,040.7 2,073.5 2,109.7 2,140.8 321.9 312.8 301.0 269.3 278.3 11.4 3.6 1.7 3.9 6.3 94.4 2/ 95.1 2/ 82.0 2/ 45.3 30.7 171.0 179.8 191.3 202.5 213.2 982.2 1,022.2 1,083.1 1,158.1 1,213.1 3,643.1 3,697.1 3,741.3 3,794.1 3,837.0 2,171.1 267.6 253.5 236.3 48.0 15.7 2.3 U.O 17.6 62.9 223.1 235.4 252.2 1,242.7 1,283 .2 1,338.2 3,886.6 3,930.1 4,064.1 21i5.1 47.3 51.5 56.2 243.5 247.2 246.0 1,312.6 1,316.9 1,319.9 4,009.6 4,023.6 4,036.4 3.0 2.3 59.8 61.0 62.9 249.7 250.5 252.2 1,326.9 1,332.7 1,338.2 4,049.0 4,056.1 4,064.1 7.0 9.7 15.8 66.0 66.9 64.9 253.5 253.8 254.5 1,338.8 1,341.0 l,3lt5.1 4,074.9 4,081.2 4,087.1 20.0 17.8 64.2 61.4 255.5 257.6 1,350.2 1,360.5 2,208.9 1956 -July August . , . September. 2,203.5 2,206.U 2,207.9 21>1.I| 6.5 5.2 2U0.6 5.3 October... November.. December. 2,208.9 2,208.9 2,208.9 238.9 238.0 236.3 3.1* 2,209.1 2,209.1 2,209.1 234.0 2,209. 2,209. 1 232.9 1 230.8 2,19ll.l> March April May silver at $1.29+ per fine ounce Subsidiary coin 3/ 195* 1955 1956 1957 -January . . February . Total Silver dollars Silver bullion 2/ 1950 1951 1952 1953 Silver outside Treasury In Treasurer's account 235.1 23't.7 Source: Clrculatloo Statement of Ikiited States Mooey; Office of the Treaexirer of the Qalted States, i/ Valuod at $1.29« per fine oizice. 2/ Includes silver held by certain agenclee of the Federal Ooveiment. i/ Valued at $1.36* per fine ovnce. Bullion for recolnage kj 4/ • Bullion at coat Silver dollars 1/ Subsidiary coin i/ 4,094.4 4,096.8 Valued at $1.38+ per fine ounce or at $1.29+ per fliu ounce according to whether the bullion la held for recolnage of subsidiary allver colna or for recolnage of standard silver dollars. Less than $50,000. Treasury Bulleiin 50 .MOHETAFY STATISTICS. Table 5.- Seigniorage on Silver (Cunulatlve from January 1, 1935 - In mllHone of doll&rB} Sources of aelsnlorage on silver bullion revnl'jed )J Eiid of calendar year or month 1935 1936 1937 1938 1939 Seigniorage on coins ( silver and minor) 18.5 "•8.7 I16.I U8.7 ue.7 63.7 69.5 91.7 19<>0 19ltl , I9te 19'n igWt , 19't5 I9W Mlec. silver (Incl. silver bullion held June lit, 193't) 1.8.7 1.8.7 792.9 807.0 839.6 821.5 1.8.7 1.8.7 1.8.7 1.8.7 August . . . September. ffiU.l 1.8.7 1.8.7 826.2 1.8.7 October November December 830.6 835.9 839.6 1.8.7 1.8.7 81»2.3 1.8.7 8I.5.I1 1.8.7 . . . 1957 -January... February 87.6 87.6 87.6 87.6 87.5 1.8.7 7^2 .2 . 3'..7 562.7 1»29.5 1*91.9 1953 195^ 1955 1956 1956 'July 530.7 1.8.7 1.8.7 1.8.7 1.8.7 87.6 87.6 87.6 87.6 87.6 87.6 87.6 581*. 3'.. 65.1. 581.. 31..7 799.7 818.9 8eo.6 820.7 65.5 66.5 701.6 832.1 832.1 832.2 833.6 3I..7 8U.6 93.5 101.. III..6 125.1. 131.. 11.3.8 150.6 155.2 833.7 833.7 833.7 833.7 833.7 833.7 833.7 31*. 1,109.3 31*. 1,U9.2 111.7 81.9 31.. 1,130.0 1,139.3 3'*.9 31.. 1,11.8.U 1,155.1* 11* 3''.7 1,159.8 50.0 31.. 1,158.1 1,159.0 1,159.5 37.0 39.9 U..U 1,159.8 1,159.8 1,159.8 1.7.7 1.8.9 1,159.8 1,159.8 1,159.8 53.1 53.5 52.6 1,159.8 51.'. 3'.. 31..7 3I..7 155.3 155.3 155.3 833.7 833.7 833.7 31*. 31.. 155.3 833.7 3". 1.8.7 87.6 2/ 967.3 717.3 3't.7 3't.7 833.7 833.7 833.7 1.8.7 1,01*8.2 333.2 161.2 31.. 155.2 155.2 155.2 850.6 51*1.6 758.8 950.6 938.1 1,069.6 1,077.6 1,087.8 1,098.1 31*. 87.6 87.6 87.6 151.. 5 Source: Bureau of Accounts. These Items represent the difference between the cost value and the ntacietary value of ellrer bullion revalued and held to secure silver certificates. ^ 759.1* 3'.. 3'*.7 833.7 833.7 833.7 856.3 1,055.6 1,089.0 3".. 581.. 151.. 9 April 27U.9 397.5 580. 7'..5 Potential seigniorage on silver bullion at cost in Treasurer's account 2/ 326.2 1«2.1 508.1 616.0 705.6 1.8.3 153.6 March Total seigniorage on silver revaluad 63.6 65.3 87.6 87.6 87.6 87.6 87.6 87.6 . 31.. 25.7 299.6 362.3 596.5 61«.3 69U.2 31.. 87.6 87.6 87.6 87.6 87.6 21.5.7 1950 1951 1952 3'..5 87.3 1.8.7 1.8.7 226.2 302.7 366.7 31.. 1.8.7 1.8.7 1.8.7 193't Nationalized sliver (Proc. of Aug. 9, 193't) 1.57.7 122.2 182.1 1.8.7 1.8.7 Silver Purchase Act of June 19, 1..2 71.. 19'i9 . igW 16.8 36.0 58.0 1.6.7 1.8.7 520.5 559.2 578.7 W"*? Nevly mined silver (Proc. Dec. 21, 1933) Newly mined silver (Acts July 6, 1939, and July 31, 191.6) 3'.. 31.. 3'..7 31.. 31.. .7 11.6.3 129.9 127.2 57.2 6.6 .3 50.0 The figures In this column are not cumulative; as the amount of bullion held changes, the potential seigniorage thereon changes. . July mr 51 . NATIOMAL BABK EEPORTS Table 1.- Earnings, Expenses, and Dividends for Calendar Years 1963, through 1956 (Dollar amounte In thousands) Treasury Bulletin 52 .CAPITAL MOVEMENTS. Data relating to capital movements between the United States and foreign countries have been collected since 1935, pursuant to Executive Order 6560 of January 15, 19't-9, snd. 193!^, Exeoatlve Order IOO33 of February 6, Treasury regulations promulgated thereunder. Information covering the principal types of data and the principal countries is reported monthly, and is published regularly in the "Treasury Bulletin." Supplementary information is published at less frequent intervals. Reports by banks, bankers, securities brokers and dealers, and Industrial and commercial concerns in the United States are made Initially to the Federal Reserve Banks, which forward consolidated figures to the Treasury. Beginning April 13^^, data reported by banks in the Territories and possessions of the United States are included in the published data. '4-5-'^7. As a result of changes In presentation introduced in that issue, not all breakdowns previously published will be exactly comparableto those now presented. pages The first three sections which follow are published They provide summaries, by periods and by monthly. oountries, of data on short-term banking liabilities to and claims on foreigners and traneaotions in long-term securities by foreigners, and present detailed breakdowns of the latest available preliminary data. Section IV provides supplementary data in five tables which appear at less frequent intervals. Table 1, shortterm foreign liabilities and claims reported by non- financial concerns, is published quarterly In the January, April, July, and October issues of the Bulletin. Table 2, The term "foreigner" as used in these reports covers all institutions and individuals domiciled outside the United States and its Territories and possessions, the long-term foreign liabllitleB and claims reported by banks and bankers, and Table 3, estimated gold reserves official institutions of foreign countries, wherever such institutions may be located, and international institutions, are published quarterly In the March, June, September, and December issues. Table k, foreign credit "Short-term" refers to original maturities maturities. A detailed discussion of the reporting coverage, statistical presentation, and definitions and debit balances in brokerage accounts, appears semiannually in the March and September Issues. Table 5, short-term liabilities to foreigners in countries and areas not regularly reported separately by banking in- appeared in the June I95U issue of the "Treasury Bulletin," stitutions, organizations. of one year or less, and "long-term" refers to all other Section I - SuDinary and dollar holdings of foreign countries IS and. presented annually in the April issue. by Periods Table 1.- Net Capital Movement between the United States and Foreign Countries (In mllllone of dollars; negative figures indicate a net outflow of capital frcm t^e Uilted States) Analysis of net capital movement Calendar year or month Net capital movement Changes In liabilities to foreigners Short-term international 9 . July mr 53 .CAPITAL MOVIWENTS. Section I - Summary by Periods Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners (Poeitlon at end of period In mllllona of dollars) Short-term liabilities to foreigners Payable in dollars Old of calender year or month Foreign official Other foreign 2, 21*1*. I* 3,320.3 3,335.2 '*,179.3 3,01*3.9 1,947. .1 2,036. ,7 2,239. 9 2,678. ,2 2,922. 1,832.1 2,836.3 2,908.1 3,620.3 3,547.6 2,972. 7 2,947. 3,001. ,0 3,451. ,7 4,041. ,2 4,651* .2 5,666.9 6,770.1 6,952.8 6,044.4 4,245. 6 4,308. 4 4,335. 4 4,726, 5 5,384, Ir 7,444.5 7,776.3 i/ 7,933.8 5,321. 5r 5,155. 5r 5,239. Or 11*, 929.5 7,952.5 7,840.5 8,044.4 11* 15 003.8 11* 761 .3r 563. Ir lU 1*52.7 ,205.1* 191*2 1* 191*3 5 ,371*. 5. ,596.8 6 ,883.1 191*1* 191*5 191*6 6; ,1*80.3 7, ,U6.i* 191*7 191*8 7, ,718.0 1949 1950 1951 7, ,618.0 8, ,6W*.8 9', ,302.2 1952 1953 10, 51*6.1 11; ,61*8.1* 12, 918.6 1951* 1955 1956 13, , 600.7 929.5r 1"*, 827.0r 1956 -July August September . l"*, 983 October.... Norember. .. December . 15, 139.3r 15, 110. Sr . 1957 -January..., February p. March p..., April p..., 1/ l"*, .6r 15,;228. 8r International Short-tenn claims on foreignera Payable in dollars Payable in foreign Loans to Other currencies foreign banks Payable In foreign currencies 473.7 13-9 17.9 21.5 25.5 40.6 246.7 257.9 329.7 392.8 708.3 2,262.0 1,864.3 1,657.8 1,527.8 1,641.1 1,584.9 1,629.4 1,769.9 1,881.1 1,452.1 49.7 70.4 51.0 44.9 72.2 61.4 43.7 43.2 40.3 48.8 948.9 1,018.7 827.9 898.0 966.4 1,046.7 904.5 1,386.5 1,546.5 l,942.0r 2,015.6 1,998.0 2,005.5 45.4 51.6 50.5 l,630.9r l,697.5r l,T26.8r 327. 9r 334.0r 1,158.4 1,166.6 1,204.4 141.0 182.8 190.4 5,120. Or 5,211. Or 5,384. Ir 2,015.4 2,008.0 1,452.1 51.5 51.4 48.8 l,827.8r l,787.3r 1,942.0 332. Or 351. It 405. 4r 1,275.1 1,264.3 l,387.6r 220.7 152.0 149.0 7,753.2 7,530.7 7,549.7 5,397. 1 5,495. Ir 5,388. 4r 44.9 54.6 66.8 2,033.6 2,040.3r 2,133.1r 441.5 407. 7r 425 .8r 1,428.3 1,434.7 1,511.9 163.7 197.9 195.3 7,794.2 1/ 5,240. 11/ 1,808.6 1,681.0 1,558.1 1,358.2 60.2 2,143.6 432.4 1,527.5 183.7 i For the first time certain accounts proTiously classified as "Other foreign" are included in "Foreign official." 72.0 86.4 105.4 100.3 319.6 143.7 137.2 169.7 245.0 290.5 30.9 34.4 54.6 47.5 98.1 292.9 361.2 222.7 151.1 177.2 122.9 156.5 206.5 328.1 405. 4r 490.6 557.1 494.3 506.3 699.4 847.5 646.5 969.0 165.4 100.4 2U.0 ,056.5 ,387.6r 163.9 149.0 331.4r Frelljiilnary BoTised. Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners (In millions of dollars; negative figures indicate a net outflow of capital from the tftiited States) U0.8 240.6 91.8 78.4 101.6 5^ Treasury Bulletin .CAPITAL MOVEMENTS. Section I - Summary by Periods Table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners (In BLllllane of dollare; negatlTe figuree Indicate a net outflow of capital frtai the Qolted States) Calendar year or mcnth July 1957 55 .CAPITAL MOVEMENTS. Section II - Summary by Countries Table 1.- Short-Term Banking Liabilities to Forelgnners (FosltloD at and of period Is lUlana Calendar jear 1956 CoimtX7 1952 Baropa! Anatrl* 91.1 123.9 Bal^lxai Czecboslorakla, •••••••••••••.••. Demark., rinlmd ,., 28.5 Franea OvxwaBj, Fadaral Bapnbllo of.... Oraace •..•• ••. ItalT Batherlanda ««••••••«•• Hoivv .•••••••.•.•••.•.• Poland Portugal Buaanla Spain. ,••• •., Snden antierland Ua 3* 3* £(•••••••••••«•«*••••»• anted ElngdoB ^.... Tngoalarla Other Europe « •••• Total Sarope Canada. Latin Aaerlca l AxiB"»^l2>A ••• BollTla Brazil Chile Colonbla. . ...•.•.•.•.•.•.•...•.• Onba DoKlnican Pepnbllo Ouateaala Haxleo letherlands V. Indlea & Suxlnaa. Faaaaa, Bepnbllc of Peru Kl- Salrador Vntfatf Tenelnela Other Latin taerloa Total Latin Aaerloa Aalal China Malnlai^ Tozaoaa Eoog Kong India Indooaala , Iran larMl Japan Korea, Bepahllc of g/ BkUlpplnea , Other Aala Total Aala Other ooMitrleal Anatralla Balkan Congo ..••• SSTPt Oilon of Sonth Afrloa All other Total other comtrlee Intematlooal Oraad total ,. 190.9 130.3 .6 95.7 37.9 1.28.5 "•7.3 898.8 100.9 308.9 203.1 21)2.9 551.1 110.3 J." 57.1. Tozkay ^^^i 1 ^^ .6 70.lt 1953 l<65.7 118.5 WSI* "^ of doLUraJ 1955 NoTember December 1957 January February p March p April p Treasury Bulletin 56 .CAPITAL MOrOlENTS. Section II - Summary by Countries Table 2.- Short-Term Banking Claims on Foreigners (Position at end of period In mllllona of dollars) Country i/ * Hot reported separately jrlor to March less than $50,000. 195^*. July 1957 57 -CAPITAL MOVUffiNTS. Section II - Summary by Countries Table 3.- Net Transactions In Long-Term Domestic Securit ies by Foreignere (In thousande of dollara; negative figures Indicate net sales by foreignere or a net outflow of capital froo tbe United States) Treasury Bulletin 58 .CAPITAL MOVEMENTS. Section II - Summary by Countries Table 4.- Net Transactions in Long-Term Foreign Securitl es by Foreigners ( of capital from the United States) In tbousande of dollars; negatlT« figures Indicate net sales by foreigners or o net outflow Comtry : July 1957 59 .CAPITAL MOViMENTS. Section III - Preliminary Details by Ckiuntrles Table 1.- Short-Term Banking LlabilitleB to Foreigners as of May 31, 1957 (Poelticn In thouflandB of dollarv) Total Bhort-tani CouuUrjr Sbort-tez« llabllltlea pojrabXa In doUare To foralgn banks and official Instltntlone To all otbar forel^nsrs U.S. llabUitles Total Depoalta 298,177 119,917 537 , 6lt,979 Flnlairi 58,998 France Oeisan;, Federal Republic of... Greece Italy Netherlands , Norway Polaol Portugal Ruaania Spain 367, '•95 1,73 ',872 936,830 110,655 75,223 2,967 119,601 830 ,,,, ,.... •.•...•..,......•.• 217,0611 70,590 300 51,621 56,825 36,338 Deposits Mlla and 308 1,710,658 163,037 907,939 88,501 70<3 29,326 11,783 1,113 1,463 1,874 1,095 6,080 3,649 3,045 349 880 80 3,813 6,515 144,471 2,781 425 265,181 6,464 102,636 2,381 425 136,351 129,529 19,301 373 371 19,454 2,593 UO l27 •,351 U,950 652 378 37,799 357 26,399 10,800 615,299 8,351 42,492 437 28,837 575 13,540 709,0^ili 921', 992 3,308 53,075 11,541 10,498 20,529 44,395 169,796 60 95,876 13,818 18,215 323,683 8,224 650 195,380 l,lt35 37,379 237 11,847 2,172 57,583 13,764 11,593 28,879 21,942 2li,liii6 129,600 2liii,28l 1,^'36 2,395 16,842 l,29^l,820 250,821 775,197 11,859 1,077 currencies 19,900 28,200 33,377 103,019 63,883 2, •87 87,289 255 10,698 forel^ Treasury bills aid certificates 49,038 237 13,336 2,172 56 239,868 27,81i6 8,969 79,677 32,749 2li6,01l2 32,6211 628,80lt 1,503 2UI1 2,530 90,751 255 11,395 25,21tl Sweden Switzerland Turkey U.S.S.K Ibited Klngdon 296,7l'l payable In U.S. Tr«aa\ir7 certifloatea Europe : Austria BelglUB Czechoelorakla Denmark aiort-tera liabUltles •3 3,462 697 170,009 106,741 26,057 198,380 745 404,356 2 15,563 11,082 65,122 237,922 495 100,253 l'',975 575 13,489 270 3,318 438 45 50 13,398 1 28,437 400 Yusoslavia Other Europe 125,1171 11,577 •03 ,297 Total Europe 6, '192, 319 5,705,355 1,761,875 3,137,768 805,712 747,766 512,369 166,422 68,955 1,613,101 l,30e,283 81l^l,^l00 430,696 27,187 297,235 218,437 57,095 21,703 185,265 25,365 139,687 137, ^186 1,201 79,175 20c, 315 9,311 84,152 23 ,287 150,305 3 100,180 23,627 150,750 45,562 16,051 84,072 55,547 55,565 44,767 15,879 79,741 54,930 55,124 108 76 3,001 255 667 9,31'' l81i,330 33 408 Cuba DoBlnloan Bepubllc Guatemala • ,.,, Mezlc o Netherlands W. Indies & Surinam. 2li0,9U7 150,885 1,589 39,l't8 87,672 •3,055 14,796 101,790 5,307 601 82,208 71,890 375,ooe 61,667 90,062 43,060 14,812 103,544 21,157 Panama, Bepiiblle of Il8,lil42 Peru El SalTador 98,056 38,185 16,764 37,607 108,705 59,902 75,798 34,265 15,851 30,748 88,545 56,668 Canada 22,157 2 latin America Argentina BollTla BrazU Chile Coloobla , , , , , 16,028 340 445 130,987 38,939 15,300 41,000 25,100 11,880 •,598 209 7,438 1,175 57,078 8,61(0 271,3l»5 2^i5,070 liO,510 12,019 Venezuela Other Latin Aaarica 79,196 U3,086 65,699 587,568 138,872 20,386 iil.ou 26,322 28,086 •70,706 77,831 20,279 10,889 12,962 21,333 178,621 56,125 io,6oe 10,860 6,753 85 11,104 Total Latin America 2,5*5,027 1,651., 866 1,^170, •OS 107,382 77,079 888,651 804,976 35,336 29,213 68,722 26,oe6 28,63^i 342 65,667 23,326 66,998 20,308 1,049 237 2,006 2,698 2,001 175 6,123 6,692 29,765 6,998 2,102 6,123 6,342 28,479 6,991 2,067 63 4,35* 2,688 18,597 1,646 22,594 tZrugusy ••.. 16, 6u 107 122 2,50'2 96 1,330 362 5 7 1,260 3,550 494 12,300 4,360 148 17,898 3,772 1,531 20,045 2,090 5,326 115 1,124 37,270 46,405 350 40 1,246 9 913 Asia: China Mainland, ,.,,.,,,,,,,,,,,. Foimoaa ., ,. long Eor« India Indcoesla Iran Israel Japan Korea, fiepubllc of 75,'ilk 55,852 78,0411 125, 9119 28,708 39,861 70,1119 123,8li3 2^i,35li 105,877 37,172 700,109 10U,231 7l8,81i3 1,150 103,360 2^1,291 27,276 4,645 7,023 889 19,073 •,354 2,689 18,732 1,646 22,929 3^^,179 2,993 7 35 1 PhUlpplnes 216,1190 193, 53'^ 658,531 98,697 167, •36 Thailand Other Asia 165,577 399, 11 -i 161,973 373,675 26,863 281,298 133,708 83,403 1,402 8,974 3,604 25,321 3,595 25,207 Total Asia 2,01i5,o66 1,913,001 1, '•96,232 361,956 54,813 130,955 128,683 780 i.itss 86,778 •1,097 58,792 57,797 150,562 82,^i79 5,172 8,105 3,564 509 1,820 3,625 30,716 95 133 40,256 295 Other oountrlea: Australia Belgian Congo Egypt Cblco of South Africa All other Total other countries Intematloaal Grand total ,.,. 14, 302 10,607 19,363 36,700 10,538 56,851 53,737 2li,707 1111,1511 91,757 32,000 39,600 2,025 58 20,372 3,812 559 1,901 3,632 34,602 U,079 13 ,070 144 395,026 3l'7,759 190,513 123,395 33,851 44,506 1,699,978 1,699,933 69,193 1,629,740 1,000 •5 111, 790, 517 12,623,197 5,832,618 5,790,937 999,642 2,109,158 100 35 290 •5 9 U4 50 81 7 3,664 3,955 •5 1,704,741 261,907 142,510 Treasury Bulletin 60 .CAPITAL MOVIMENTS. Preliminary Details by Countries 1957 Banking Claims on Foreigners as of April 30, Section III Table 2.- Short-Term - (Position la thonaand* of dollar* Short-term claims payahle in dollar* loans to; Total Foreign banks and official instltutioa hcrt-term Country oLalna Others Burojo; 7,795 1,951. 1.8 26,91111 2ll2 1,006 7,951. 8,621 3,323 8,li21 1.69 3,320 5 2 59,961 177,057 5,283 57,555 22,825 51*. 932 3,6lU 155,822 5,280 21,709 3,833 3,570 331 7,807 28,521 AvBtrla Balglm 2l42 CzeohoaloTakla. Deanark Finland Franca Garaanr, Federal BepuUlc of. Greece Italj letherlande Marmj... Poland. Portugal. . 103 20,0ll2 22,118 586 2,925 17,382 332 1,638 17,2ii7 99 6,233 332 1,590 329 22 2 2 6,893 588 7,636 1,701 203 10,252 75,5311 U Spain 10,085 9,506 lii,05i« Svaden svitzarland, . Turkey O.S.SJl United EdogdOB. 26,830 79,150 13,5117 2ll,017 79,lii5 151,128 50,691 212 2U Other Europe... 8,1*90 8,366 Total Burope... 680,1.98 5116,112 l6li,80U 113,036 70,832 13,861 1»2,U30 12,138 5,372 15,030 Latin Aaarloa: 5,372 77,999 Chno Colcn^la. 77, WU 211,865 21i,86U 150,760 150,758 92,035 10,553 7,691 3,826 91,877 10,553 7,689 211,209 3,806 Panoaa, Republic of 111,863 lii,8l6 Peru El SalTador 36,029 8,505 36,010 Cnlia Doolnlcan Bepubllc Guatemala Mexico letherlands Heat Indlea 213,OOii It Surlnaa. 12,li81i 8,1.99 12,1169 Tenet uala Other Latin Aaarloa 162,670 161,587 ,610 511,573 Total I.atln Aaerloa 917,696 913,6811 2ltli,038 China Kalnla]^. 2,510 2,510 2,1196 Fonosa 5,ii6o 5,li6o Bong Kong 6,705 9,908 283 6,659 9,515 275 5,U28 977 3,392 23,5118 21,6ll2 23,536 206,051 891 18,771 206,040 885 18,7115 I6,li7^ 12,169 83,Olil 12,169 82,673 6,073 68,651 390,978 390,109 155,583 10,li66 9,563 1,186 36 570 tXroguay IMla Indoneela Iran Inroel Japan Korea, Beputallc of. Philippines Thailand Other Aala Other countries: Australia Belgian Congo Egypt IMlon of South Africa. All other Total other countries. 5ii It, 21,6Ii2 i.,7li6 1 262 1,799 50,005 757 1,221 7,661 17,303 1,206 7,056 16,650 6,739 iii,iioa 39,221 8,51.7 2,11*3^16 1,959,958 586,833 16 Intematlcoal Orand total. 3,7115 13,336 21 1,966 TugOfllaTla Argentina. Bolivia... Brazil UO 56,5811 Pujaanla. . 21.0 11.1.1*2 July 1957 61 .CAPITAL MOVHffiKTS. Section III Preliminary Details by Count rles Securities by Fore Igners during April, 1957 Long-Term Table 3.- Purchases and Sales of - (In thoiisanda of dollars) Treasury Bulletin 62 .CAPITAL MOVBffiNTS Section IV - Supplementary Data by Countries Table 1.- Short-Term Liabllitlee to and Claims on Foreigners Reported by Nonflnanclal Concerns (Poeltlon at end of p«rlod In thousands of dollara) i/ July 1957 63 .CUMULATIVE TABLE OF CONTEKTS. August 1966 through July 1957 Treasury Bulletin 61^ .COMOLATIVE TABLE OF CONTENTS. August 1956 through July 1957 - (Continued) laeue and page number 1956 Aug. Sept. Oct. 1957 Jan Not . Feb . Mar Apr. May OwnerBhlp of Federal securities: J3l8trlbution bf clasoee of Inveators and types of Issues net market purchases or sales for Im-eslsaent accounts handled b; the Treasury 33 38 33 33 39 33 33 38 33 UO 33 33 33 39 33 33 1.1 3". 31. 3'' 1.0 3". 31. 38 39 33 Estimated cnmershlp 38 39 35 35 1.1 35 35 UO 33 31. Treasury survey of ownership of Federal securities: Ovnershlp by banks^ insurence ccmpanles, and others Ovnership by ccimierclal banks classified by membership In Federal Reserre System (latest date December 31* 1956)..... 35 35 39 35 39 Market quotations; &)d -of -month closing quotations on Treaeur7 SBCurltlee by issuas.. Chart - Yields of Treasury securities I16 II 1.6 II il 1*5 1.7 1.3 1.8 49 in 1.7 1.2 1.2 1.8 1.6 50 '.3 1.8 1.3 1.3 1.9 1.7 51 1.1. 1.5 1.5 50 51 1.8 1.5 U9 50 51 1.1. 52 53 1.9 1.6 U6 52 50 1.6 1.6 il 1.2 1.7 1.2 •3 1.8 1.3 Ul. 1.9 1.1. 1.5 50 51 1.6 1.5 Average yields of long-term bonds: Average yields of Treasury and corporate bonds by periods. Chart - Average yields of Treasurr and corporate boDds . . . Internal revenue collections: Sumnary by principal sources Chart - Internal revenue collectiona by principal sources..... Detail of collections by type of tax Detail of specified excise tax collections reported quarterly. 1.6 Ul. 51 1.7 1.5 1.7 Monetary statistics: Money In circulation Monetary stocks of gold and silver Gold assets and liabilities of the l^asuxy........ Caaponents of silver monetaiy stock .........,,.,. Seigniorage oq silver Increment f^-cn reduction in weight of gold dollar (latest date March 31, 1957) 1.8 52 53 53 1.9 5". 50 55 5". 1.7 55 55 56 57 U8 1.8 U7 53 1.9 1.8 51. 1.9 U8 51. 50 51 1.9 55 56 50 52 53 53 51. 55 1.7 U8 1.8 U9 50 52 53 53 Sk 55 57 55 56 55 58 59 56 57 57 58 56 57 1.8 1.9 1.9 50 51 Exchange Stabilization Fund (latest date December 31, I956): Balance sheet Ihccne and expense National bank reports: Earnings, expenses, and dividends for calendar years 1953-56 Capital movements between the United States and f oreign countries: S\mmiai7 by periods since 1935 Sumnary by countries and periods........ Short-term banking liabilities to foreigners, latest month Short-term banking claims on foreigners, latest mcath Purchases and sales of long-tona securities by foreigners, latest month ................,,,....,,,.,.. Short-teim liabilities and claims reported by nonflnancial concerns. LoDg-tenn liabilities and claims reported by banks and bankers...... Estimated gohi and ehort-teia dollar resources of foreign countries and International institutions Foreign credit and debit balances in brokerage accounts Short-tem liabilities, countries and areas not regularly reported.. 60 63 67 68 56 59 51 63 58 59 69 65 6l> 51. 60 61 58 61 65 66 52 51 55 59 60 51. 59 62 58 59 66 67 67 61 60 61 68 56 59 63 51 51. 58 61. 59 65 60 61 66 "62 '66 67 68 63 67 68 58 61 65 66 60 67 61 52 55 59 62 63 62 Corporations and certain other businese-type activities: StateiKnts March 31, Inccme and Source and of financial condition, and loans by type (latest date 1957) expense (latest date December 31, 1956) application of funds tlatest date December 31, 1956 ')'.'.'.'. 71 65 70 69 GPO 927 553 Cof^ Treas. U.S. Treasury Dept. HJ 10 .A2 1957 C.2 Treasury Bulletin ;2_ us TREASURY 1 ill lilii lilUilUlIUlSi v^^^^ iiiiiii ...,lf' LIBRARY 0031996