Full text of Treasury Bulletin : July 1957
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TREASURY DEPARTMENT
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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
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