Full text of Treasury Bulletin : June 1960
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^MrxJLJ
ROOM 5025
NOV 21
1960
LFBRARY
JUN
1 3 1972
TREASURY DEPARTMENT
^Mr^
LIBRARY
ROOM 5025
MOV 211960
LfBRARY
JUN
1 3 1972
TREASURY DEPARTMENT
TREASURY DEPARTMENT
FISCAL SERVICE. BUREAU OF
ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON
2S. D.q
OFFICIAL BUSINESS
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
^MUILILETEN
JUN 3
1960
JUNE-iaBD
UNITED STATES TREflSURV DEPRRTMENT
OFFICE DP THE SECRETRRV
The Treasury Bulletin le for sale by the
Superintendent of Documents,
U, 9. Government Printing Office, Washington 25, D. C,
Subscription per year $b.00 domestic, $7.50 foreign.
Single copy price varies
June 1960
Table of Contents
Page
Treasury financing operations
Sximraary
of Federal fiscal operations
A-1
1
Budget receipts and expenditures
2
Trust account and other transactions
g
Cash Income and outgo
12
Account of the Treasurer of the United States... 1&
Debt outstanding
20
Statutory debt limitation
2k
Public debt operations
25
United States savings bonds
k2
Ownership of Federal secxirities
k6
Treasury survey of ownership of Federal
securities
4-g
Market quotations on Treasury securities
52
Average yields of long-term bonds
55
Internal revenue collections
57
Monetary statistics
6l
National bank reports
65
Capital movements
66
Corporations and certain other business-type
activities - statements of financial
condit ion
7^
Cumulative table of contents
IO9
Note: Where calculations have been made from unrounded figures,
the details may not check to the totals shovm.
Treasury Bulletin
Reporting Bases
The dally statement on the new basis was first Issued for
Data on receipts, expenditures, and debt whloh appear In the
In the deposits and withdrawals as shown, no
"Treasury Bulletin" are based largely on two Treaaury financial
February 17,
reporte, the "Dally Statement of the United States Treaeury" and
distinction is made as to the type of accounts (budget,
the "Monthly Statement of Receipts and Expenditures of the
United States Government." Certain monetary statistics are based
etc.
at least In part on the "Circulation Statement of United States
Tottd,
Money."
Where these statements are given aa sources for InTheir respective
dividual tables, they are olted by name only.
reporting bases are described below.
Por other data In the
Bulletin, infonnation on sources or reporting bases Is given In
oonneotlon with the tables themselves.
195**.
cleared throu^ the account of the Treaaurer of the United States.
withdrawals are on the basis of checks paid or cash dle-
bursemente made out of the Treasurer's account.
Some of the
withdrawal olasslf loatlone shown are reported on the basis of
mailed reporte 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
The public debt figures
In the dally statement also are on a "clearance" basis,
with the
exception of those issuance and i^tlrement transactions reported
published for February 13^^, and replaced the dally statement as
the primary source of Information on budget reeulte and other
on the basis of telegrams from Federal Reserve Banks.
receipt
debt transactions are Included, however.
and expenditure data classified by type of account.
trust,
The deposits are on the basis of certificates of deposit
).
Noncash
At the same time, the daily statement was ohanged to a statement
of cash deposits and withdrawals affecting the account of the
Treasurer of the United States.
Both publloatlona have provided
coiqparatlve figures on their respective bases from the beginning
of the fiscal year 1953. Tbe announcement of February 17, 195^,
with respect to these reporting changes may be found In the
April I95U issue of the Bulletin.
The dally etatement before February 17, 1$^^,
covered not
only transactions cleared through the Treasurer's account but
also certain Oovemment agency traneactlons which were handled
through commercial bank accounts, and Included noncash Interfund
and other Intragovernmental transactions. It provided information
eimilEir to that in the present dally statement with respeot to the
status of the Treasurer's aocount,
and similar to that In the
by all
end-of-month daily etatement with respect to debt
Issuance, retirement, and amount outstanding.
Reoelpts and
expenditures, however, were claeslfied by type of account, and
the budget results shown in the daily atatecient were used as the
other collecting and disbursing agencies. Including those agencies
basis for reflecting the results under the President's budget
which maintain checking accounts In oommerolal banks. These
reports cover transactions recorded in the accounts of the
a^enoles during the reporting period. The net of the transactions as complied from these reports is reconciled in the
monthly statement to changes in the balance in the Treasurer's
program as enacted by the Congress.
The monthly statement shows all reoelpts and expenditures
of the Oovemment,
Including those made from oaah accounts held
outside the United States Treasury.
The Information Is compiled
from reports by the Treasurer of the United States
Euid
account and in cash held outside the Treasurer's account and
changes in the public debt outstanding.
Reoeipta of taxes and oustome duties are reported on a
Other receipts are reported partially on a
colleotlone basis.
oollectlone basis and partlallyona deposits basis. Expenditures,
except Interest on the public debt, are reported on the basis of
checks Issued or cash payments made by disbursing offloers.
Transactions of an Interfund or Intragovernmental nature are
included on the same basis even though the actual Issuance of
Interest on the public debt ie Included on an accrual basis beginning with figures for June 1955
and the fiscal year 1953. Prior to that, it wae included on a
oheokfi may not be Involved.
due and payable basis.
The same reporting basis aa 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 Oovemment" and for actual reoelpts
and expenditures In the "Budget of the United States Oovemment."
present
Receipts were on the basis of deposits as they cleared the
Treasurer's account. Expenditures cleared through the Treasurer's
account were reported on two successive bases.
Through 19U6 they
were on the basis of checks paid by the Treasurer of the United
States.
Beginning with IS^T, expenditures made through the
facilities of the Treaeury Departrrent'e Division of Disbursement
were on the basis of checks Issued, while certain others,
prin-
cipally those of the Department of Defense and its predecessor
organitatlons, were on the basis of checks paid. Transactions
handled through commercial bank accounts, consisting of market
transactions In public debt
reported by the agencies.
£Uid
guaranteed securities, were as
Interest on the public debt was In-
cluded on a due and payable basis beginning with November I9U9
and on a checks-paid basis prior to that time.
The circulation statement reflects transaotlone through the
Treasurer's aocount which affect monetary stocks of gold and
silver and the amounts of coin and currency in the money supply
of the country.
It is issued later than the dally statenent,
however, and the figures are based on traneactlons consumfflated
during the reporting period even though eome may oot have
cleared the Treasurer's aocount during that period.
A-l
i960
Treasury Financing Operations
and the Federal Reserve System.
Subscrip-
Advance Refunding
accounts,
On June 6 the Treasury Department announced
that for the first time. In respect to marketable
securities, It was making use of the provisions
tions from all others were required to be accompanied
affecting advance refunding In the Act of September
Accordingly,
22, 1959 (P.L. 86-316, Title II).
holders of the 2-1/2 percent Treasury bonds maturing
November I5, I96I, outstanding In the amount of
$11,177 million, were given the option of exchanging
them during the period from June S through June I3
for like face amounts of either 3-3/'+ percent Treas-
ury notes maturing Kay I5,
196't-,
or 3-7/S percent
The official offering circulars stated that
pursuant to the provisions of section 1037 (a) of
the Internal Revenue Code of 195'+ as added by Public
Law S6-3't6 the Secretary of the Treasury had declared
that no gain or loss shall be recognized for Federal
Income tax purposes upon the exchange.
Gain or loss,
on the obligations surrendered In exchange
will be taken Into account upon the disposition or
Subscriptions were limited to an amount not to
exceed $3-1/2 billion for the new notes and to tl-l/2
billion for the new bonds. The announcement stated
that If subscriptions exceeded these amounts by more
than 10 percent they would be subject to allotment.
Exchange subscriptions accepted amounted to
S93 million for the 3-3/^+ percent notes, and
to $322 million for the 3-7/8 percent bonds,
ing to not less than 10 percent of the face amount
of the new securities applied for.
If any,
Treasury bonds maturing May I5. I96S.
53.
by the deposit of 2-1/2 percent bonds of 196I amount-
on
a preliminary basis.
redemption of the new obligations.
The announcement stated that the Comptroller
of the Currency, the Board of Governors of the
Federal Reserve System, and the Federal Deposit
Insurance Corporation had Indicated their Intention
of advising banks under their supervision that they
may place on their books an amount for the securities
received In exchange not greater that the amount at
which the securities tendered by them for exchange
were carried on their books.
Total subscriptions received amounted to
For the new notes,
approximately Sit-, 278 million.
subscriptions amounted to %k, 556 million. Including
$3,023 million from commercial banks for their own
account, $83 million from Government Investment
accounts, and $1, 1+50 million from all others. For
the new bonds, subscriptions amounted to $322 million,
Including $101 million from commercial banks for
Both new securities are dated June 23, i960, and
bear Interest from that date payable on a semiannual
basis on November I5, I96O, and thereafter on May 15
and November I5 In each year until the principal
amount becomes payable. The new notes, series
D-1961+,
bear Interest at the rate of 3-3/'+ percent
The new bonds bear Interest
196'+.
and mature May 15,
their own account, $57 million from Qovernment
Investment accounts, and $163 million from all
others.
at the rate of 3-7/8 percent and mature May 15, I96S.
Neither security will be subject to call for redeiqs-
Subscriptions to the new notes for more than
$25,000 were allotted 85 percent but not less than
825,000, and those for $25, OX or less were allotted
Both new securities were Issued In bearer form
with Interest coupons attached, and also registered
as to principal and Interest, the notes In denoiainatlons of $1,000, $5,000, $10,000, $100,000,
$1,000,000, $100,000,000, and $500,000,000, and the
All subscriptions to the new bonds were
allotted In full.
In full.
tlon prior to maturity.
bonds In denominations of $500, $1,000, $5,000,
$10,000, $100,000, and $1,000, 000.
Subscriptions were received without deposit
from banking Institutions for their own account,
Federally-Insured savings and loan associations.
States, political subdivisions or Instrumentalities
thereof, public pension and retirement and other
public funds. International organizations In which
Payment could be made only In 2-1/2 percent
Treasury bonds of I96I, due November I5, I96I, and
was required to be completed on or before June 23,
Exchanges were made
i960, or on later allotment.
Interest on the surrendered bonds
par for par.
the United States holds membership, foreign central
banks and foreign States, Government investment
per $1,000) was paid subscribers.
accruing from May 15, i960, to June 23, i960 ($2.6'+9'+6
Ireasury nuUeiin
Treasury Financing Operations
13-Week and 26-Week Bills
Issues of regular weekly bills during May
totaled $6.4 billion refunding $6.2 billion IJ-week
-
(Continued)
securities carry ^l-iay and 1S2 day maturities.
Averages rates of discount on the new bills follow:
and 26-week bills maturing and providing $200 million
The four new Issues of 13-week bills
$4-. 6 billion and those of 26-week8 to
$1.S billion. Of the 13-week bills, the first on
of cash.
amounted to
May
5i
was for |1.0 billion and the last three were
for $1.2 billion each.
The four new 26-week bills
were for $0.4 billion each on May 5 and May 12, and
for $0.5 billion each on May 19 and May 26.
With the exception of the new 26-week bills
dated May 26, which are for IS3 days, the new
13-ueek
(Additional amount of bills of
original maturity of 26 weeks
mo
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
eipts and expenditures
Expenditures
deficit
Net of
trust
account
and other
transactions
Levels, end of period
Clearing
account
etc. i/
2/1/
8,419
-1,811
-3,122
3,510
-4,017
64,825
64,655
60,390
68,165
71,029
74,274
67,772
64,570
66,540
69,433
-9,U9
69, U7
68,270
71,936
80,697
-2,819
-12,427
78,600
84,000
78,383
79,816
217
4,184
-206
-4,500
40,864
35,63
5,2U
37, 5U
41,106
37,728
56,337
70,682
-3,592
-422
-3,358
-5,842
-4,100
4,331
-43
815
-41
-319
72,997
64,854
66,129
67,216
71,692
-9,157
-3,683
-2,771
3,779
592
101
739
-259
267
1,092
-209
-34
376
-21
224
68,694
73,282
75 ,782
-7,088
-7,040
-691
109
3
-37
4,786
6,299
9,501
6,0U
-1,225
771
3,753
-65
338
3,496
4,925
10,785
6,122
5,846
2,946
4,838
7,208
6,613
63 ,358
70,994
72,284
80,322
5,528
5,749
6,6a
6,198
6,633
-3 ,117
-4,180
1,626
1,596
U7
3,883
435
328
6,966
5,189
3,115
31
-194
284
522
1,624
-1,462
2,047
1,839
-388
4,932
3,470
5,517
7,357
6,969
252,292
252,770
257,357
255,222
259,105
252,366
252,798
257,377
255,251
259,151
-2,299
4,670
6,766
266,071
271,260
274,374
272,751
270,527
266,13
2,096
-551
331
-1,63
6,a6
271,341
274,418
272,825
270,634
195
-2,224
-956
6,546
5,590
633
5,816
8,363
4,159
-4,399
9,749
5,350
276,343
284,706
276,444
284,817
5,350
5,350
284,500
280,000
284,616
280,107
1,111
471
4,208
4,679
-U7
4,32
2,711
7,973
62
1,770
4,295
6,064
252,800
257,130
256,708
259,419
267,391
252,854
257,160
256,731
259,461
7,777
3,582
2,019
-1,488
4,577
5,180
4,545
4,427
4,606
275 ,168
275,244
278,784
280,822
276,731
-329
603
267,
278,750
280,769
276,628
274,898
U5
-635
-117
179
8,025
7,875
355
622
4,961
5,583
282,922
290,798
283,031
290,925
-344
257
124
-2,055
-1,101
888
1,682
3,505
4,394
6,076
274,555
274,679
272,624
274,656
274,782
272,728
-2,626
-920
4,164
617
-169
-682
2,433
595
691
412
-357
3,619
6,487
6,130
9,749
275,057
275,653
276,343
275,151
275,749
276,444
-3,667
-1,361
290
-877
3,009
-1,810
-4,630
1,249
-1,269
5,119
6,368
5,099
275 ,466
278,476
276,666
102
108
118
275,568
278,584
276,784
3,546
2,848
-138
-565
1,991
-1,564
4,534
6,525
4,961
280,211
283,060
282,922
112
107
109
283 ,167
283 ,031
2,879
-697
-3,069
957
-644
-836
5,918
5,274
4,438
285 ,801
106
112
119
285,907
285,216
282,153
3,319
950
-1,597
1,531
-81
-538
5,969
5,888
5,350
285,353
286,303
284,706
35C
-4,376
-1,274
-900
4,528
6,576
8,426
6,776
6,331
6,461
-2,248
4,258
5,425
10,154
6,427
6,164
8,631
-2,169
-739
1,524
-4,U1
533
575
6,37
7,080
679
-5,994
478
4,587
-2,335
-1,730
2,769
4,962
6,180
7,144
483
65
-489
245
1,965
4U
-365
-354
285,104
282,034
275 ,002
280,33
285 ,460
286,410
284,817
3,246
5,679
8,486
6,557
6,305
6,357
-3,311
-626
2,129
112
-608
396
3,976
1,714
-2,100
486
781
399
5,837
6,617
7,017
288,682
290,396
288,296
110
111
116
3,03
5,897
7,582
6,868
6,598
6,844
-3,846
-701
738
455
-538
-148
2,957
-664
209
-641
-1,408
615
6,376
4,968
5,583
291,253
290,589
290,798
118
124
127
291,372
290,713
290,925
4,909
7,265
9,581
6,199
6,170
6,424
-722
450
-122
4,862
5,311
5,189
291,085
290,583
286,826
138
291,215
290,719
286,965
5,074
6,oa
-1,290
1,095
3,157
-968
6,294
288,787
132
288,919
-379
662
660
287
-805
-U2
919
-501
-3,757
-137
249
1,961
Actual figures through the fiscal year 1952 and the calendar
year 1953 are from the daily Treasury statement, and thereafter in
each case they are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page II); estimates are from the 1961 Budget document, released
January 18, 1960, including effects of proposed legislation. More
detailed information with respect to the figures on this page will
be found in succeeding tables.
Grose receipts less transfers of tax receipts to certain trust f\mds
(see page 2), and refunds of receipts.
Transactions of the Foreign Economic Cooperation Trust Fund, established under Section 114 (f) of the Economic Cooperation Act of 1948
(62 Stat. 150), are consolidated with budget expenditures.
Consists of transactions of trust and deposit funds, investment by
Government aganoies in public debt securities, and redemption or sale
of obligations of Government agencies in the market; excess of receipts, or expenditures (-). For detail of content, see page 8.
Source:
2/
-507
366
33,069
39,507
39,617
44,058
65,408
63,841
61,171
2/
(-)
41,A88
37,696
36,495
i7,568
61,391
37,306
52,979
64,840
1/
Debt outstanding
public
debt,
ij
288,792
290,506
288,412
For checks outstanding and telegraphic reports from Federal Reserve
Banks; public debt interest accrued and unpaid beginning with June
and the fiscal year 1955 (previously included from November 1949
as interest checks and coupons outstanding); also deposits in
transit and changes In cash held outside the Treasury and in certain
other accounts beginning with the fiscal year 1954. Net increase.
(-).
dec
For current month detail and list of acts, see section on "Statutory
Debt limitation" in each issue of the Bulletin. The limitations in
effect during the period covered by this table and the date when
each became effective are as follows: $275 billion, on June 26, 1946;
»281 billion, on August 28, 1954; t278 billion, on July 1, 1956;
t275 billion, on July 1, 1957; $280 billion, on February 26, 1958
June 30, 1959.
t288 billion, on September 2, 1958; and $290 bill!
$295 billion. ThereFrom July 1, 1959, to June 30, 1960, the limit
after it will revert to $285 billion.
. .
.
Treasury Bulletin
.BUECET RECEIPTS AND EXPENDITURES.
Table
Receipts by Princlpnl Sources
1.
mllllomi oC
{111
ilolliirii)
Inivmal ravanuo
InooiM tutno
For old-n^A
luitl
withlwld
1442
!,826
1953
l'W4
l'»S
1946
,012
195«
11,322
51,347
54,363
53,906
49,915
56,633
6,337
12,302
11,528
11,733
26,728
27,041
29,001
60,560
59,102
58,826
6,634
7,733
8,004
67,700
72,700
10,092
311
1,235
652
1*0
flSiit.J...
12,600
1*1
(llllli.)...
13,.>00
l^^'J-JiOj
1,.139
2,171
Aiitnitit...
;.,.'23
4,7U
iioptamber
.',.'<i4
7,411
Ootolwr..
i.ai
Novrtmbnr.
IVionmbor.
4,345
1,959
4,849
.',371
F«bnini7.
860 10/
4,835
5,913
3,568
6,201
Hmx'h
-'541
9.524
I'Xil^-Jaimary
.',1U la/
.
TAl
April
roml
m-
For unomploymont
Total
amployn»nt
3,569
4,086
4,537
5 ,340
Taxao not
oiherwlBa
clnaolfled
Estata
and gift
taxaa
^
2/
'2/
i/v
18,521
21,351
21,635
21,254
24,012
10,3*
1«7
ln-
Duriuioa
3/
10,747
l<«i»
dlitn-
blUly
Wlthlwlil
^
tune
Gmploynant
620
603
600
634
616
9,726
10,825
10,014
259
277
285
280
325
4,562
4,983
5,425
6,220
7,296
945
936
1,171
330
336
324
7,581
8,644
8,854
1,378
1,411
1,353
10,638 2/
10,814
10,760
1,500
1,650
11,811
12,557
11 ,665
332
1,321
704
971
1,027
1,007
1
,611
977
936
1,031
794
954
1
.14''
l.OU
106
104
115
278
965
527
259
882
476
298 12/
1,243
1,078
9 2/
9,ai
10,004
341
945
4, "10
1960 to data.
Dsduotiona from bvtdgai racolpto
Rafunda of paoalpto
Tranafaro of tax raoalpta to
U/
Tol»l
blidttei
rsuotpla
raoolpie
2/
19S2.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1*0
800
948
(Kat.l.
1*1 (Ksl.K
1959-Julji
i960 to data.
12/
12/
u/
3,569
4,086
4,537
5,040 li/
6,337
738
620
603
599
634
2,749
3,196
3,158
83,675
83,974
83,904
6,301
6,870
7,158
616
4,013
3,932
97,28(>
104,912
9,164
10,693
528
294
942
Truat
Fund
11/
73,173
69,454
78,820
3,936
7,418
9,552
3,626
7,152
8,350
.
Railroad
Ratlrannnt
Aooount
67,999
72,649
Octobar...
Novanbar..
Dpoambar.
1*0-J«nuar>'..
Fabniary
March
Fadaral Dlaablllty InBuranoa
Truat Fund
1,814
1,865
2,311 S/
2,559
3,006
237
172
Au£uat....
Saptanbar.
FOASI
Trust
Fund
3,179
575
525
928
972
279
1,112
Hlghviay
2,275
3,095
3,345
3,400
3,653
2,302
3,118
3,377
3,426
3,684
1,4'W
2,116
2,171
3,894
4,413
4.907
3,917
4,433
4,733
2,627
2,950
5,308
5,611
5,335
^,637
192
237
1,1.32
7,468
759
74,434
6,581
2('7
165
179
160
128
235
793
429
5,425
9,289
12,217
Intamal
Rpvanua
47
12/
31 12/
264
191
986
692
Souroai Actual riguraa for 1952 ara from th» dally Traamiry stateBant and tliaraaftsr from the monthly atatoment of reoolpta oikI expai^lturaa of the Govammant (for explanation af reporting bases
sea page II); estimates am fi-cm the 1*1 Budtiet dooumsnt, released
Januarj- IS. 1*0. and supporting data. Inoluding effeota of proposed legislation.
1/ For iVrther detail, see tables under "Internal Kevenue Collootlons."
i/ Breakdown was not made In the dally Treaauty statenenl and the
montlily statement for yeara prior to 1954.
i/ Beginning January- 1951. the distribution of rsooipts between individual
Inooms taxes aixl old-age and disability tnauranoe taxes is made in
aooordanoe with provisions of Seo. 201 of the Soolal Seourlty Act,
as amended (42 U.S.C. 401), for transfer to the Federal Old-Ago
and Survivors Insviranoe Trust Fund (see footnote 11), and altar
Dscexber 19S6 also for transfer to the Federal Disability In:iur«ni-o
Trust Fund (see footnote 12).
475
2,156
-16
432
1.317
-17 12/
430
1,316
.772
U
3,798
Taxes on employers and employees under the Federal Insuranoa Contributions Act, as amended (26 U.S.C. 3101-3125), aT\d beginning with
the taxable year 19*il, tax on self-employed Individuals uixier the
Seir-Employmont Contributions Act, as amended (26 U.S.C. 1401-1403).
The Soi-lal Stoourlty Act Amendments of 1956. approved August 1, 1956,
Increased the rates of tax applicable io wages paid and taxable years
beginning alter Docamber 31, 1956, to provide for disability inauranoe (see footnote 12).
5/ Taxes on carriers and their employaaa imdar the Railroail R»»tlremonl
Tax Aot, as amended (26 U.S.C. 3201-3233).
Tax on employers of 4 or more under the Federal Unemployment Tax .'V'
as amended (26 U.S.C. 3)01-1108); with respect to services perfon
before January 1, 1^)56, the tax was Imposed on employers of 8 or m
Remaining footnotes on followli\g page.
4/
,
^
June
l%0
.BIJECIT
Table 2.
RBCKIPT8 AID EXPHTDITURK;
Detail of Mlacellaneoua Receipts by Major Cat«gorlea
imein
(Id
of dolUr*)
fM* mi
Sd*
DlTltenls tlOD npoD
taoA othtr losu Old
G«nron>-
1,865 2/
335
r«4
2,3U
2,559
3,006
1957
195«
1959
2,749
3,196
3,158
458
408
554
628
1960 Cut.)..
1961 (Eat.)..
4,013
3,932
19J3
745
601
1,007
1,053
228
240
274
296
410
471
438
674
506
328
328
587
204
213
421
450
843
1959- Jul/....
*af
3.pt....
50
46
77
Oct
loT
67
Kmt
Solcn-
tm%B Tot
porvlti
rtnu,
otli»r
p*n«ltt««,
tu*
for
loraff*
MrrloM,
199
323
Mnt. to
'/thai
onthl/
1/
•tat*-
f*ltui«a
22 2/
363
253
313
266
480
3«7
322
343
345
325
208
225
194
312
304
350
VbO
372
69
3©
59
161
m
63
Dm
1960-JaD
fab
of
products
299
361
252
291
1,043
SaU
propoi^jr
nt*
1955
1956
of
77
52«
294
Z19
340
2,7«0
ta
75
Soursai Baporta to ttw Traaamr l^partaant bj 41ateiralD( offloara,
OD tha aoDthl/ atataaa n t raportlA^ baala ^aaa p^a 11 )i aatlaataa
an froa tl» 1961 Bud«at do/noMot, nUaawl Jamajy li, YHt,
and Wipportlpf data, includlr^ affects of yr^/yj^mA la^alatloD.
CooalatB tA alaoallaDaoqa taxaa (jrritvAittllj tfaa tonoi^^ tax oo
foral^ Taaaals aotarliic ?. S. porta;, b*jllloc ohaj^aa, asd
glfta end ooDtribotloDa.
Dlffaraooa batwaan ttaa total alwMi Iji ttaa aoDthlj atataaant of
raoalpta mti axpandltoiaa of ttaa Ooaiiiiiilr ^aaad on pvall^narr
rvportay an9 that froa final a/^o^wz/ta of 4Jaburalr< offloara.
In 1953, taiaa oollaot*! In hmr>^j fclco on pr'^o'.-ta of frjarto *l/:afi
aiaifaffton -.onlj^ Into tha 'Mtad IV.ataa, aMV/tlr^ V/ tl6 millUM,
ara olaaalfU^ aa alaoaljanaoua kyjd^t raoalpta) tharaaftar, minb
collaotlona ara lnolula4 In IntarTial fiaranua oollaot]':*^ of ax/.-laa
^
^
Footnotes to Table
laai than %'/A//]0.
-
1
adacallanaona laoalpte, wtdla tha 1961 dudfat ior'jminiX, SpacUl
A&aljala G, IjKludad thaa In aaplojaant taxaa In 1^2. Ba^loDlDC
1954 tha coirtrlbutlona ara -rra^Ita^ -Urac-t V, tha tru*t aAO>»Dt.
for ^HKDBta.of tha oon-trlo'jtlona U*r,\rjim'i In trjdcat raoalpta, aaa
•Traa*«J7 Bollatln' tin 7*^rjMT]r 1954, paga 7.
£/ In tha 1961 Bad«at ^oooaant, Spaclal Xulrali 0, taxaa not otharvlaa
olaaalflad ara Inclodad in laoallarja'T-ja raoalpta.
3/ Baciadrig 1957, U.olalai oollaotlona jn^r Iry^raaaa^ rataa in tha
Bi2tan7 BarasM l/;t of 1956 'aaa t'^/'.ry)'^ Uj.
Ifi/ ficnraa ataows Inoloda 'aaa footnota U; 'iaaraaaaa In ic/vsaa tax of
t9e allllaD wlthiMld azil t4 alllion nof. vltltel/1 aal In/rraaaaa in
tranafara of $90 Kllllon to fa«iarml Ol.'l-A^ aw: SojrrlTora In«iraDoa
Traat fmd asd $11 alllloD to fadaral I/lcanlKV In«aranoa Troat ftnd.
U/ iaomta ayproprlstad to ttaa fadaral OU-lfa an: SturrlTora InatKnnoa
Traat rod ara aqslTalant t« ttaa aotarta of taxaa -.ollaotad and
dapo«it*d for olA-aaa iJWoraDoa.
Jimni tranafarra^ ourraotlj
for approprlatloD to tha tntat foad ara baaa>i >% avtlaataa of oldafa iDanrnoa tax raoalpta aada bj tha 3aorataJ7 of tha li^^mtrj
(42 O.Z.C. iaiU)j, tai ara adjuatad is latar trai«fara on tha
baala of wa(a asd aalf t ap lojaant iitccam racorda aaintalnad Ifi
tha Social aaenrltj idBi£latr«ti4B. Tha aaotmt of olft-aga
Inanraaoa tax rafisida la ralaboraad to tha pnmnl fond b^ ttaa
tmat tvoi,
li/ Ttaa radanl DlaabUlt/ laannooa Troat rtnl ma artabllabad by tha
3oel«l 8ao>rlt7 iet MmtOmBf of 1996, awiin ari ii«Mt 1, 1996
(42 C.8.C. 401 (b)).
Tha act apfiroprlatad to tha tnat ftaid aMtzitt
aqcdralant to apadfiad paroaBtafaa of tba vafaa od aalf-a^H/iTaant
iaeoaa, raapaotlTalr, iAl<ta ara taoad for oU-aca Isaoraooa, aid
prorl/tad that tha ingita appnprlatad ahoold ba tranafarrad froa
(Continued)
v> tlaa to tha tniat fu/il 'A tha aiM* oaala aa \m.mtmn to
ffa*.a« of
tte fadaral 'Jl'i^ltt* m/A 3arTlTvr« Irmjrmr^im 7njat f>//i9,
tax Mtra ln/;raaaad by tte p«r':arAa^B appropri a*>a>1 V, tha fadaral
MaanlXlty Utmtrmf^j* 7rjat ?o//: , tM Iry^raaaa balr-c a^l':^>la to
vagac paid c/i1 tcxarla /aara ba^irjr.Ua; aftar '.M'Mttjmr j!l, r;^.-.
«i/;liidaa tto (knrarr«aot'e '»rrtrI>/»yrlor. fo/- -.rwll'.afcla allltar7
aarrioa (45 l.g.'".. /yfl^\
iawxnta a/« atitr-zprl at*) Vv ttaa
.
Kaljroad £latlraaa//t JU^^oo/zt a^jrjal to tha tmirat^. 'A taxai 'J/Amr
tha Elallroad bf.lnmtrA Tax I/.-1. Oapoal<>vl In tha TntM'Oj, laaa
rafuzda, *jrLi« aa^in fla-;«l /••/ '^^ 5tat. ;c^i an: '/- Stat. 371)
ar/i \rmtmTmr% ara aada 'pimr.W/.
Tim Hlftat*/ fwra/wa A/.-t of 1956, appr-zrad Jum /l, 1956 'y3 '/.8.C.
Vn, aatafcliabad a Kieowajr Truat ftiul fr« tfhloh ara V< ha aada, aa
pf/rldad b7 approprlatlor. arta, fadaral'-ald taiowq' axpanal •>«/••
aftar *zaa Vl, 1956, Bil Uf'/ra Jul/ 1, 1'//;". Tea art appropria*.*!
Ma*
2/ TfaroQgh 1^3, coBtftbatidDa to tha lalljvad OnaaploTaant Inaoraaoa
Adsinlatratloo ?tind vara tarri»A In tha dallj 77aaauT7 atit—afit aa
12/
H/
if;
XL/
•
hm
to ttala fond aaouDta arpilTalarrt V. apaclflad paroantafaa of raoalpta
froa oartadn axolaa taxaa on aotor f'jala, mi*y/r rahlolaa, tlraa mA
asd na^ of oartain rahl/^laa, «d proriilal t^at tha a»-Mnta
tohaa,
^proprlatad ataould ba \Tmja/t^imA vjmt/^.ly v. tJM truat tvfA 'm
tha baala of aatiaato \rj taa 3a'.-ratar7 of tM 7r*amr7 tfltn prof*r
•djnataaota to ba aada in wibaa^^^vnt tr«K«fara. ?'ha .a* tax i^aa
Ij^oaad 07 tha act «3d rata* war* iTyrraaaad for tr^ 'Amr taxaa.
Prarlooa to tha fiaoal jraar 1V5V v/rraapoaSln^ ax/.-iaa *.«x Tnrm\^.t
vara Ixxlodad in oat bodcat raoalpta, aul fateral-alvl nl^nwaj' ax.
pandltoraa vara tciAladad In b».«34at axpaollto/a*.
liTtaraat on rafonda la Inolxvlad in *X¥«ndlto/*i in 7Ala >.
Tranafara radaaad Vf W/j alllion V, oorraot tv.a* aada aarllarr
'aaa T'y/'.tieA» lit.
'M. baala of aatiaatat
lat of raij*wraa«n-t of »«9 all Hon frca tha fadaral '.TA-l«a aul
aorriTora loBraKsa acd fadaral MaArilit/ liwiraboa trgat fMCda.
Uaa
ttaao
$500/Mb.
. ..
.
.
,
Treasury Bulletin
.BUDGET RECEIPTS AND EXPENDITUEES
Table 3.- Expenditures by Agencies
(In millions of dollars)
Executive
Office
General
Services
Administration
Funds
appropriated
President
1953
1954
1955
1956
,
,
,
,
7A,27i
67,772
64,570
66,540
1957
1958
1959
69,433 2/
71,936
80,697
1960 (Est.)...
1961 (Est.)..,
78,383 i/
79,816
1959-July
August
.
.
Septembe]
October.
November.
December.
.
1960-Januaiy,.
4,115
4,081
4,109 A/
7,707 2/
8,305
9,315
1,748
y
135r
U4r
158r
Ulr
144r
I6lr
April.
6,041
64,365
U5r
133r
155r
^
1,457 2/
570
425
359
Welfare
Department
1953.
1954.
1955.
1956.
43,611
40,336
35,532
35,791
813
605
548
1957.
1958.
1959.
38,439
39,062
41,233 4/
639
2,295
733
2,645
3,092
1960 (Eet.)
1961 (Eat.)
42,745
42,745
Interior
Department
Justice
Department
Labor
Department
134
376
435
716
562
568
531
14.8
-59
187
189
97
500
Post
Office
Department 8/
State
Department
1,920
1,981
1,993
2,071
171
183
182
a6
572
666
751
2U
229
250
300
355
394
412
659
312
356
156
136
463
U2
418
567
1,016
518
674
774
179
206
272
6,504
6,382
6,370
6,787
9,300
9,500
728
724
718
64
59
46
October.
November.
December.
3,715r
3,465r
3,968r
294
259
258
19
1960-JaDUaiy,,
Februaiy.
3,278p
3,488r
3,749r
3U
748
765
7,607
7,593
604
49
273
293
368 1/
879
7,2U
V
3,517
2,178 11/
31
800
826
779
285
270
784
325
2,8a
Columbia
12/
public
debts/
3,U7
698
5,706
6,201
7,289
270
35,639 2/
361
500
562 2/
645
382
794
3,513r
3,467r
3,558r
1960 to date
5,006
4,875
7,091
738
778
1959-July
August...
September
. .
1,063
1,000
1,077
1,293
2,915
4,636
5,177
Treasury Department
Health,
Education
14arcb.
Commerce
Department
3,217
199
1,152
690
758
732
516
760
728
Defense Department
807
Agriculture
Department
385
-615
129
9,492
10,181
1,8U
6,8U
6,199
6,170
6,424
1960 to date.
6,905
6,473 1/
6,791
6,982
6,557
6,305
6,357
6,868
6,598
Februaiy
March
.
1/
5,782
5,282
4,381
4,473
HouBlng
and Home
Finance
Agency
772
588
216
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 1961 Budget document, released
January 18, I960, including effects of proposed legislation.
Note : Figures in this table are for agencies as constituted at the time
the expenditures were made, and therefore do not necessarily represent
functions which are comparable over a period of time. For expenditures
by functions on a consistent basis, see Table 5. Agency shifts are
reflected in this table as follows; Beginning 1955, Federal Home Loan
Bank Board from "Housing and Home Finance Agency" to "Independent offices,"
and Reconstruction Finance Corporation as indicated in footnote 1; beginning 1957, Alaska Road Construction from "Interior Department" to
"Commerce Department," and Federal Intermediate credit banks and production
credit corporations as indicated in footnote 3 ; beginning 1958, Federal
Facilities Corporation (remaining functions) from "Treasury Department"
to "General Services Administration," and Informational Media Guaranty Fund
from "Funds appropriated to the President" to "Independent offices"}
beginning 1959, Federal Civil Defanis Administration from "Independent
offices" to "Executive Office of the President"; and the former Civil
Aeronautics Administration and the Civil Aeronautics Board from "Commerce
Department" to "Independent offices"; beginning 1960, military
assistance is shown under "Defense Department, militaiy" Instead
of "Funds appropriated to the President."
458
465
212
7,607
67
648
28
Heconstructlon Finance Corporation is Included under "Independent offioes" through 1954, and under "Treasury Department" beginning 1955,
except functions transferred to Export-Import Bank, Federal National
Mortgage Aaaociation, General Services Administration, and Small
Business Administration. The corporation was abolished at the close
of June 30, 1957, by Reorganization Plan No. 1 of 1957, and Its
remaining functions were transferred to the Housing and Home Finance
Administrator, Administrator of General Services, Administrator of
Small Business Administration, and Secretary of the Treasury.
2/ Beginning 1957, Federal aid for highways is excluded from budget
expenditures and Included in trust account expenditures (see
Table 1).
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 (12 D.S.C. 1027),
and operations of the merged agencies (as mixed-ownership corporations) were classified as trust enterprise funds (see "Trust Account
and Other Transactions," Table 3); previously the operations of the
banks and the corporations, respectively, were classified as public
enterprise funds and were included net in budget expenditures.
Remaining footnotes on page 7«
1/
^
June I960
.BUDCrET KECEIPTS ANI) tXFEMDlTURES -
Table 4.- Summary of Appropriations and Authorizations, Expenditures, and Balances, by Agencies,
as of April 30, 1960
(In millions of dollars;
negative figxires are deductions in the columns in which they appear)
Additions, fiscal year I960 to date
Unexpended
balances
brought
forward
July 1, 1959
1/2/
Legislative Branch
The Judiciary
Executive Office of the President
Funds appropriated to the President 7/
Independent offices
General Services Administration
Housing and Home Finance Agency
Agriculture Department
Comme rce Department
Defense Department:
Military functions
Military assistance 7/
Civil functions
Undistributed foreign transactions
Health, Education, and Welfare Department
Interior Department
Justice Department
Labor Department
Post Office Department
State Department
Treasury Department
District of Columbia - Federal contribution
Unclassified expenditure transfers
Total
u,
Eind
loans.
Appropriations
Aut hori z at i ons
to expend from
debt receipts
other
authorizations
L/
5/
;
;
;
Treasury Bulletin
.BUDGET RECEIPTS AND EXreNDITURES.
Table 5. - Expenditures and Balances by Functions
(Fiscal years; in siillions of dollars)
1960 through April
Itmation
code
nujsber
Major national seciirity:
Military defense
Development and control of atonic energy
Stockpiling and defense production e3q>ansion
Mllitaiy assistance
.,,,
061
066
067
068
Total major national security
International affairs and finance
Conduct of foreign affairs
Economic and technical deTelopmsnt 2/
Foreign infonBation and exchange activities
151
152
•
153
Total international affairs and finance
^
'
Total veterans
'
35,791
1,651
38,^9
39,062
2,268
41,233
2,541
312
2,340
34,382
625
2,187
U,U2
46,426
37,971
2,155
173
1,261
2,292
2,611
1,990
490
2,352
40,626
40,641
43,270
121
1,960
100
120
157
173
1,613
111
1,683
1,910
976
U9
lU
9a
189
2,181
Veterana' sergices and benefits;
Veterans' education and training
Other veterans' readjustment benefits
Veterans' compensation and pensions
Veterans' insurance and servicenen's indenni ties. •..•••..<
Veterans hospitals and medical care
...••..
Other veterans' services and administration
.........<
^
35,532
1,857
102
103
664
150
2,681
767
123
2,798
699
168
3,104
126
2,870
104
105
106
574
177
3,275
422
2,799
43
809
151
856
156
services and benefits
5,026
labor and welfare
labor and manpower
Public assistance
Promotion of public health
Promotion of education
Premotlon of lolenoe, research, llbnurias, and
Corraotional and penal inetitutions
Other welfare services and administration^..
,
^
KiBems
6/,
211
212
328
1,428
213
2U
275
325
215
216
217
28
136
53
475
1,457
351
281
56
31
400
1,558
469
292
458
1,797
546
319
72
34
71
32
169
8U
342
1,969
704
468
119
39
279
1,723
Total labor anl welfare
679
4Zl
173
39
217
3,593
Agriculture and agricultxiral resources 1
Stabilization of farm prices and farm income ^Z****-*****'
Financing farm ownership and operation £/
Financing rural electrification and telephones............
Conservation and development of agricultural land and
water resources g/
Research, and other agricultural services
,
^
351
352
353
35i
355
3,486
36
204
3,900
231
217
3,430
227
267
2/
3,151
239
297
290
173
Total agricxilture and agricultural resouroes
4,867
4,525
a/
5,126
250
315
2,890
547
291
662
262
6,529
4,346
255
278
Natural resoiircesi
Conservation and
Conservation and
Conservation and
Conservation and
Recreational use
General resource
development of land and water resources
development of forest resources
development of mineral resources
development of fish and wildlife
of natural resources
surveys and administration
^02
935
119
va
37
405
409
803
139
38
163
62
43
35
51
59
34
38
Total natiiral resources.....
Connerce and housinga
Promotion of water transportation
..........••.••..
Provision of highways
.••.••.........•..
Promotion of aviation
...•.•...•..•.•....
Space e^loration and flight technology. ................
Postal service
Community development and facilities
Public housing programs
Other aids to housing ^/
Other aids to business 12/
Regulation of conmierce and finance
Civil and defense mobilisation
Disaster insurance, loans, and relief 13/
1,5U
510
511
512
513
5U
515
516
517
518
519
520
521
Total commerce and housing
General goverroaent
legislative functions
Judicial functions
Executive direction and management
Federal financial ^uiagemsnt
General property and records management
Central personnel management and eiqjloyment costs L^. ..
Civilian weather services
,..,,...
Protection services and alien control
Territories and possessions, and District of Colind>ia...
Other general government
Total general govemmaDt
Footnotes at end of table.
349
647
179
74
356
56
-115
270
-404
38
969
196
1,138
174
59
60
69
43
62
58
61
42
1,669
417
127
472
365
uo IS/
219
315
4
89
674
78
-83
51
228
115
463
a
49
66
45
12
1,504
1,389
97
1,085
139
58
46
305
465
89
105
350
73
49
36
3,421
1,455 12/
601
602
(m
6OA
605
606
607
608
609
610
431
164
115
25
157
67
139
1A99
475
164
334
34
188
1.630
(Cootinusd on follcwlng page)
476
194
627
38
187
467
289
180
46
182
78
502
239
140
566
291
30
25
1.359
1.606
1,401
mo
.BUDGET RECEIPTS AND EXPENDrTDRES.
Table 5.- Eaqwndlturea and Balancea by Functlona
(Fiscal Tsara) In
mllUons of dollars)
(Continued)
—
...
,
.
Treasury Bulletin
TRUST ACCOUNT AND OTHER TRANSACTIONS.
Table !•- Summary of Trust Account and Other Transactions
(In millions of dollars)
Net receipts, or
expenditures (-),
from trust account
and other transactions
1953
U7
05
1954
1955
1956
328
231
-19i
1957
1958
1959
1952
Trust and deposit fund accounts
8,807
8,929
9,155
9,536
11,685
4,952
5,169
6,769
195
633
1,409
262
-329
-1,5U
14,369
16,329
17,084
12,959
16,068
18,595
-2,300
-197
1,112
20,696
22,547
a, 510
1,269
21,278
-369
-1,954
-960
916
-499
1,214
2,444
1,236
2,174
1,528
1,735
671
-666
317
-877
507
-274
1,009
2,004
1,474
1,886
1,496
1,748
1,974
1,613
-813
-290
301
-27
October
November.
December.
1%0-January. .
-379
February.
March
-W2
-1,146
716
-160
828
2,329
1,708
April
-137
-577
1,490
662
Net sale
(-), of
Government agencies
market
-3 ,636
-3 ,301
3,855
3,760
2,386
991 1/
2,250
1960 (Est.)
1961 (Est.)
1959-July
August
September.
Net sale, or investment
C-) f by Government
agencies in public debt
securities
Net receipts, or
expenditures (-)
-2,054
-1,362 1/
-2,617
8,545 1/
9,435
602 1/
56
102
-386
296
Source: Actual figures for 1952 are from the daily Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page II); estimates are from the 1961 Budget document released
January 18, I960, including effects of proposed legislation.
1/ Under a revised classification in the monthly statement, effective
July 1, 1955, the security transactions of Government-sponsored
enterprises are Included in deposit fund account expenditures
(net) and excluded from net investment by Government agencies
in public debt securities (see Table 4) and from net redemption
or sale of obligations of Government agencies in the market
Figures previously published for the fiscal year
(see Table 5).
1955 have been revised to the new classification basis.
Includes guaranteed securities beginning 1955 (see Table 4).
Table 2.- Trust Account Receipts
(In millions of dollars)
Federal Old-Age
and Survivors
Insurance Trust
Fund
1952
8,807
8,929
9,155
9,536
11,685
1953
1954
1955
1956
1957
1958
1959
U,369
16,329
17,084
1960 (Est.)....
1961 (Est.)
20,6%
22,547
V
Federal
Disability
Insurance
Trust Fund 1/
3,932
4,516
5,080
5,586
7,003
7,159
7,900
8,182
10,178
11,721
1,063
1,098
1959-July
August . . .
September.
1,2U
2,444
1,236
301
1,267
609
October. .
November.
December..
1,009
2,004
1,474
264
908
24
102
642
67
828
2,329
1,708
1,257
1,020
1960-January. .
February.
March
Railroad
RetireAccount
TJnemploy-
Trust
Fund
850
742
737
700
739
1,643
1,594
1,492
1,425
1,728
723
695
758
1,912
1,855
1,997
1,308
1,059
2,300
2,284
National
Service
Life Insui^
ance Fund
786
Highway
Trust
Fund
Goreniment
life
Insurance
Fund
87
2/
649
912
961
691
708
1,025
640
634
1,397
1,458
1,741
1,482
2,134
2,185
681
638
585
1,707
1,770
2,628
2,950
794
924
637
619
590
597
401
457
U9
467 4/
67
lU
355
151
291
April
Source: See Table 1.
See "Budget Receipts and Expenditures," Table 1, footnote 12.
See "Budget Receipts and Expenditures," Table 1, footnote L4.
Includes District of Columbia receipts from taxes and from
Federal contributions, loans, and grants; Indian tribal funds;
increment resulting from reduction in the weight of the gold
1/
2/
2/
dollar; and the Railroad UnemployrDent In3ua*ance Administration
Fund for the period 1954 through November 1958 (see Table 7 for
treatment thereafter, and "Budget Receipts and Expenditures,"
Table 1, footnote 7, for treatment prior to 1954).
Does not include donation of public debt securities amountij^ to
45,800 (par value); see also Table 4.
June i960
TiajSn ACCOUNT AID) OTHSR TRANSACTIONS.
Table 3.- Trust and Deposit Fund Account Expenditures
(In millions of dollars; negative figures are excess
of credits)
Trust accounts, and trust enterprise funds (net)
Total
trust
accounts
1952
4,952
5,169
6,769
8,545 1/
9,435 2/
1953
1954
1955
1956
1957
1958
1959
12,959
16,068
18,595
1960 (Est.)..
1961 (Est.)..
1959-July. . .
August..
Federal Old-Age
and Survivors
Insurance Trust
Fund
Railroad
Retirement
Account
Dnemploy- National
Service Ufe
Insurance
Fund
Life
Insurance
Fund
Federal
employees
retiremen
2,067
2,750
3,405
4,487
5,551
391
465
502
585
611
1,049
1,010
1,745
1,965
996
588
623
538
1,393
512
12,743
16,159
18,605
6,723
8,116
9,454
682
730
778
1,644
591
3,U8
699
792
a, 645
11,196
11,652
21,389
3,054
852
864
400
327
406
859
859
835
165
210
272
312
October.
November,
December,
1,886
1,496
1,748
1,6%
1960-Jaiiuaiy.
February.
March. . .
1,974
1,613
1,868
2,067
1,672
1,792
1,862
1,862
624
2,854
938
144
873
284
905
312
903
258
Trust accounts, etc, - (Cont.)
Trust enterprise funds (net)
Federal National Mortgage Assoc. 4/
Federal
intermediFinancing by
Other
ate credit
Treasury
operatic
banks 2/
1952
929
102
176
224
Government-sponsored enterprises
Total
accoxints and deposit
trust enter- fund
prise funds accounts
Other
Investment i
public debt
securities
5/
441
495
483
425 2/
1954
1955
1956
219
Deposit fund accounts (net)
Other trust
413
1953
438
692
617
-346
-529
-558
56
38
a6
1960 (Est.)...
1961 (Est.)...
-395
-120
-437
i/
6/
Redemption of
agency obligatio
in the market
6/
170
548
-269
-872
39
-86
167
-1,222
Other
expend!
tures
-395
-120
-437
October..
November.
December.
172
-198
-186
-364
-178
-79
190
-117
-185
52
-200
-127
-24
April
139
Source: See Table 1.
1/ Includes security transactions of Government-sponsored enterprises
beginning 1955 (see Table 1, footnote 1).
Z/ Does not Include revolving fund receipts representing acquired
securities amounting to $1,643,070 (par value); see also Table 4.
2/ Operated as a trust enterprise fund beginning January 1, 1957, at
which time the production credit corporations were merged in the
Federal intermediate credit banks, pursuant to the Farm Credit Act
of 1956 (12 D.S.C. 1027); previously the banks and corporations,
respectively, were classified as public enterprise funds, and
were included net in budget expenditures. Beginning January
1959
they are classified as Government-sponsored enterprises, and the
net transactions of the operating fund were then transferred from
the trust fund and included under "Deposit fund accounts."
A/ Secondary market operations, as provided in the Housing Act of 1954,
deposit
fund
accounts
49
-410
-121
56
229
224
-620
1,277
-885
57
1959-July
August..
September
1960-January.
February.
March ....
966
1,602
2,709
3,U3
Septembe:
1957
1958
1959
300
363
411
430
507
159
176
188
i,ia
1,697
1,875
563
82
Highway
Trust
Fund
2,384
1,973
2,002
1,726
1,920
Fiscal year
or month
Government
5,298
5,698
7,327
2,174
1,528
1,735
April
Federal
Disability
Insurance
Trust Fund
492
-408
209
275
143
Treasury Bulletin
.
TEUST ACCOUNT AND OTHER TEAHSACTIONS
.
Table 4.- Net Investment by Government Agencies In Public Debt Securities
(In millions of dollars; negative figures
are excess of sales)
Jane i960
-TRUST Accomrr ant other transactiohs.
Table S.- Net Redemption or Sale of Obligations of Government Agencies In the Market
(In millions of dollars; negative figures are excess of sales)
Securities guaranteed by the United States
Securities not guaranteed by the United States
Public eBterprise fimds
Total
guaranteed
Commodity
Credit
Corporation
Federal
Farm
Mortgage
Federal
Housing
Administration
ration
1952
Home
Owners'
Loan
Corporation
Total not
guaranteed
Total
public
and trust
prise
funds
Public enterprise funds
Federal
intermediate
credit
banks l/
Federal
National
Tfortgage
Association 2/
Home
Owners'
Loan
Corporation
,
1953
195i
1955
1956
-602 2/
,
1957
1958
1959
,
,
-639 2/
-639
-lU
-U4
-915 A/
-915 A/
-1,085
-567
,
1960 (Est.),..,
1961 (Est.)...,
1959-Julj
August .
. .
September.
October.
November.
December.
I960- January..
February.
March. .
-3
.
-100
5/
April
-150
Securities not guaranteed by the United States - (Continued)
Government-sponsored enterprises
Tnjst enterprise funds
Federal
inters
mediate
credit
banks l/
Federal
National
Mortgage
Association 6/
1952
Total
Governmentsponsored
enterprises
186
-33
-11
1953
195i
1955
1956
1957
1958
,
,
1959
-100
-950
-115
-125
1960 (Est.)..,
1961 (Est.)..,
1959-July
August
»
,
.
Septembe]
October.
November.
December,
1960-January.
February
March.
April...
.
-269
-872
167
-1,222
Banks
for
cooperatives
Federal
loan
banks
Federal
intermediate
credit
banks l/
Federal
land
banks
Treasury Bulletin
12
.CASH
IHCC»ffi
The cash income and outgo data appearing in the
"Treasury Bulletin, " beginning with the February I956
ISBue, are on a baslB consistent with receipts from and
AND OUTGO.
representing cash received from the public. Federal oaen
borrowing from the public Includes net borrowing by the
payments to the public as derived In the 1957 and subsequent Budgets of the United States, Special Analysis A.
Treasury through public debt transactions and also net
borrowing by Government agencies and Government-sponsored
enterprises through sales of their own securities.
Reconciliation to cash deposits and withdrawals in the
It excludes changes in the public debt which do not rep-
the Treasurer of the Unites States is shown on
resent 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
of.
the same basis as in the Budget documents.
There is also
shown the amount of net cash borrowing from, or repayment of
borrowing
to,
the public.
By these arrangements, data in
account and in cash held outside the Treasury.
accordance with the Budget olassif icatlons are made avail-
able month by month.
Figures for back years have been
revised where necessary In order to make them as nearly
comparable with the Budget classifications as available
data will permit. For this reason certain of the figures
differ somewhat from those published in earlier Budget
documents as well as In the Bulletin.
Cash transactions through the Treasurer's account are
similar In general concept to those included in the Budget
series, but are limited in coverage to transactions whlah
affect the balance in that account.
On the other hand,
they include receipts from the exercise of monetary
authority, viilch are excluded from receipts from the public
in
the Budget series.
The Budget series of cash transactions is designed
to provide information on the flow of money between the
Includes transactions not cleared through the Treasurer's
Beginning with figures for the fiscal year 1953, tihe
series of transactions with the public is based on the
"Monthly Statement of Receipts and Expenditures of the
Receipts and payments Include transactions both
United States Government," which Is compiled from reports
in budget accounts and in trust and deposit fund accounts.
Operations of Govemment-sponpored enterprises are Included
by all collecting and disbursing officers and Includes
those transactions not cleared through the Treasurer's
In payments on a net basis as reflected In Treasury reports.
account.
public and the Federal Goverrjnent as a whole, and therefore
account.
Major intragovemmental transactions which are reported as
both expenditures and receipts are eliminated from both.
Noncash items which represent accrued obligations of the
Government to make paj'ments in the future are also eliminated
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
Cash deposits and withdrawals In the Treasurer's
account, beginning with the figui-es for the same year, are
reported in dally Treasury statements. For those years
prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of daily Treasury
statements which reported separate classifications for
trust account transactions, etc.
budget results,
June I960
13
.CASH INCOME AND OUTGO.
Table 1.- Summary of Federal Government Cash Transactions with the Public
(In millions of dollars)
Federal receipts from
the public
1952
Federal payments to the
public
Excess o:
receipts
payments
Plus: Net cash
borrowing from
the public , or
(-)
repaynifint
(-)
Plus:
ceip^s
Equals;
onetary
uthority
68,013
71,A99
71,627
67,836
77,088
67,964
76,773
71,860
70,538
72,617
82,107
81,893
81,660
80,008
94,796
102,178
95,338
96,257
-542
4U
5,9a
-5,969
3,973
7,903
9,488
8,171
8,498
7,709
-4,198
-594
1,779
4,606
1,339
-1,457
October.
November,
December,
3,678
7,579
7,894
8,228
7,795
-4,a6
-6U
-649
368
-1,408
615
1960-January.
February.
5,461
9,231
11,084
6,767
-1,306
1,156
3,984
1953
1954
1955
1956
,
1957
1958
1959
,
,
,
1960 (Est.)..,
1961 (Est.)..,
195 9- July
August . .
Septembe]
April...
2,099
-1,520
83,a3
94,804
8,163
-13
8,075
7,099
,1/^4
Change in cash bala
Treasurer's account
balance, increase.
-505
2,919
2,512
1,809
-4,366
-2,299
2,096
-551
-3,100
5,760
8,678
-956
4,159
-4,399
Cash bald outside
Treasury, increase
-722
450
-122
554
-7U
-4,039
6,369
78,055
1960 to date.
Source: Actual figures for 1952 are based on the daily Treasury
statement and thereafter they ar« based in part also on the
monthly statement of receipts and expenditures of the Government
(for explanation of reporting bases, see page II); estimates are
from the 1961 Budget document, released January 18, 1960, including effects of proposed legislation.
Table 2.- Summary of Cash Transactions through the Account of the Treasurer
of the United States
(In millions of dollars)
Net cash transactions other than borrowing
Plus : Net cash borrowing, or repayment of
borrowing (-)
Cash
deposits
68,081
71,345
71,815
67,758
77,079
67, "94
1954
1955
1956
76,407
71,974
69,888
71,984
287
-5,062
-159
-2,130
5,096
1957
1958
1959
81,875
82,094
81,612
79,183
83,188
94,042
2,692
-1,094
-12,430
1960 (Est.)
1961 (Est.)...,
94,836
102,226
95,250
96,257
-414
5,969
1959-July
August.,.,
September.
3,455
8,199
9,563
7,684
-4,051
-481
1,879
1952
1953
-674
2,763
2,255
-3,648
5,253
8,032
4U
781
399
3,642
-768
3,441
7,600
8,286
7,724
8,240
7,890
1960-January. .
February.
5,397
8,909
11,921
6,757
7,559
7,975
-1,360
1,351
3,946
-4,068
5,818
7,081
-1,264
2,369
April
-956
4,159
-4,399
-5,969
-4,283
-640
396
. . .
-2,299
2,096
1,579
-4,765
October. .
November.
December.
March .
Equals: Treasurer's
account balance, increase, or decrease (-)
-641
-1,408
615
-722
450
-122
1960 to date...
Source: Actual figures are based on the daily Treasury statement;
estimates are from the 1961 Budget dociiment, released January
18, I960, including effects of proposed legislation. Figures
in the first four columns of this table may differ somewhat from those
origin»lly published in the daily Treasuiy statement because of subsequent
reclassification of certain transactions.
:
.
Treasury Bulletin
Ik-
,
CASH INCOME 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 tallliona of dollara)
Deduct!
ceipta
Excess
Intrsgovero- profits
mental
tax ref
transactions bond re
(See Table 5) demptio
1/
Receipts
from
exercise of
monetary
authority
Less:
Receipts
Equals
Federal
receipts
from the
public
Plus : Receipts
from exercise
of monetary
authority 2/
2/
Adjustment for
net difference
due to reporting method (sei
also Table 4)
Equals:
Cash
deposits
in the
1954
1955
1956
61,391
64,825
64,655
60,390
68,165
8,807
8,929
9,155
9,536
11,685
70,198
73,754
73,811
69,926
79,851
2,116
2,199
2,110
2,061
2,739
2,185
2,255
2,183
2,090
2,763
68,013
71,499
71,627
67,836
77,088
68,081
71,345
71,815
67,758
77,079
1957
1958
1959
71,029
69,117
68,270
14,369
16,329
17,084
85,397
85,446
85,355
3,242
3,493
3,650
3,290
3,553
3,694
82,107
81,893
81,660
81,875
82,094
81,612
1960 (Est.)...
1961 (Est.)...
78,600
84,000
20,696
22,547
99,296
106,547
4,460
4,3a
4,500
4,369
94,796
102,178
94,836
102,226
3,246
5,679
8,486
1,2U
2,4U
Septembe]
1,236
4,460
8,124
9,722
486
217
230
3,973
7,903
9,488
3,455
8,199
9,563
October.
November.
December
3,023
5,897
7,582
1,009
2,004
1,474
4,032
7,901
9,057
348
316
889
3,678
7,579
1960-January .
February
March. . .
April
4,909
7,265
9,581
828
2,329
1,708
5,737
9,595
11,289
359
199
5,074
1,490
6,563
189
1952
1953
1959-July
August .
.
Source: See Table 1.
preceding sections
Treated as noncash
and as cash refund
1/
277
364
272
Ipt figures appear in
Details of basii
in the Bulletin
refund deductions from n
ipts when issued
deductions when redeemed
2/
»
8,163
118
3,441
7,600
8,286
5,461
9,231
11,084
-68
-327
830
U,9a
6,369
-557
5,818
5,397
8,909
Consists of seigniorage and the 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 $500,000.
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 dollara)
June I960
15
.CASH INCOME AND OUTGO.
Table 5.-
Intragovernmental Transactions Excluded from Both Receipts and Payments
(In millions of dollars)
.. .
:
Treasury Bulletin
16
CASH IMCCME AMD OUTGO
Table 7.- Derivation of Federal Government Net Caeh Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Net borrowing, or repayment of borrowing
millions of dollars)
(-); in
Change in public debt and agency obligations held by the publi
Public debt
increase, or
decrease (-)
Plus; Net sale of obligatio
of Government enterprises in
the market
lU
-59
-14
602
1957
1958
1959
-2,224
5,816
1,085
567
1960 (Est.)
1961 (Est.)
-206
-4,500
1959-July
August. . .
September.
3,976
1,714
-2,100
October. .
November..
December.
2,957
-664
209
1953
1954
1955
1956
3,355
3,068
1,686 1/
1,236
2,516 2/
-167
1,222
8,363
1960-Januai7. .
February..
March
April
Governmentsponsored
enterprises
U6
126
101
1/
171
549
2,262
105
-1,215
208
1,769
56
102
364
178
79
-686
646
-329
117
185
-52
-12
-501
105
-891
186
-3 ,757
104
UO
1,961
143
-279
287
Net investment in Federal
ities by Government agencies
Public
enterprise
funds
Governmentsponsored
enterprises
Public and
trust enters
prise funds
3,883
6,966
5,189
3,115
-1,623
1952
Ifiss:
3
-16
174
-96
292
-128
121
-202
Deductions for noncash and other transactions
Net
acorued
interest
bonds and
Treasury
bills 2/
1952
1953
1954
1955
1956
,
,
,
,
1957
1958
1959
,
,
Equals
Net cash
borrowing
from the
public, or
repayment
of public debt securities representing expenditures, or refunds of receipts 4/
Armed
forces
leave
bonds
^
Notes to
International
Monet al7
Fund
V
Excess
profits
tax
refund
bonds 6/
758
718
524
497
456
680
722
618
6a
623
-674
-450
1,361
1960 (Est.)...
1961 (Est.)...,
-292
-200
2,160
170
155
256
230
399
-3 ,100
549
506
646
5,760
8,678
623
4U
124
-5,969
4,606
1,339
-1,457
October.
November.
December.
3,656
-763
233
1960-Januaiy.
Februaiy
March
554
-7U
-4,039
April
See Table 1.
Treasurer's
account j/
-505
2,919
2,512
1,809
-4,366
1959-July
August..
September
Source:
Transaction;
not
reflected
in
the
2,435
Footnotes on following page.
-84
156
June I960
17
CASH INCOHE AND OUTGO
Footnotes to Table 4
expenditures, or receipts (-), m neasured
b, funda
?n v^
^oTlded
ty or applied to net security transactions
reflected
m
Treasury reports (see Table 7). To a large extent,
thee. GoTer7ia»nteponeored enterprises secure funds for their
operations by direct
borrowing from the public or by cashing Federal
securities which
they hold ^d they apply the net Incoine received
from operations
to repayment of borrowing from the public or
to Investment In Federal
securities. On that basis, net expenditures for
operations are
shown in this table In terms of the combined
net of dlslnrestment in
Federal securities and sale of agency obligations
In the market
2/
3/
£/
and net receipts from operations are shown
In terms of the combined
net of lOTestfflent in Federal securities and
redemption of =B'="'.J
agency
obUgatlona In the market.
Hot reported prior to igjlt.
See Table 7, footnote 1.
Does not Include revolving fund receipts representing
acquired
securities amounting to $l,61t3,070 (par value).
Footnotes to Table 5
Federal Intermediate credit bank franchise tax through
December I956
and, beginning 1953, also reimbursement by Panama
Canal Company for
expenses and services.
Includes reimbursement by Federal Old-Age and Survivors
Insurance
Trust Fund and Federal Disability Insurance Trust Fund for
Administrative expenses, and also for refunds of taxes (treated
as an
offset to refunds rather than being credited to receipts)
beginning
with 1953 for the former and 1959 for the latter; reimbursement
by
Highway Trust Fund for refunds of taxes; reimbursement by the
District
of Columbia; payment of dividends. Interest, etc., by
Federal National
Mortgage Association's secondary market operations; and
Federal
Intermediate credit bank franchise tax and repayment of capital
stock to the Treasury after December 1956 and before January I959.
Consists of psynent of earnings and repayment of capital stock
to
the Treasuiy for 1952; and payment of franchise tax by
banks
for cooperatives beginning I955, and by Federal Intermediate
credit
banks beginning January 1959.
Includes relatively small amounts of deductions from salaries paid
by trust funds and Government-sponsored enterprises.
Beginning with
fiscal year 1958 excludes deductions from salaries of District of
2/
5/
*
Columbia employees (see footnote 6), and beginning with
fiscal year
1959 excludes voluntary contributions.
Consists of payments to employees' retirement funds representing
Itolted States and Government corporation shares
of contributions;
payments to the Railroad Retirement Account (for creditable
military
service), the Unemployment Trust Fund, veterans' life
Insurance funds
'
Judicial Survivors Annuity Fund, trust fund for technical services
and other assistance under the agricultural conservation
program, and
District of Colunbla; and awards of Indian Claims Commission.
Includes psyment by District of Columbia to the Civil Service
retirement fund for its share of contributions, and beginning with
1958
also deductions from its payroll; financial adjustments
among Railroad Retirement Account, Federal Old-Age and Survivors
Insurance
Trust Fund, Federal Disability Insurance Trust Fund,
and Unemployment Trust Fund; transfers from Civil Service retirement
fund to
Foreign Service retirement fund from 1955 through
1957; and
transfers from Railroad Unemployment Insurance Administration
Fund
to Unemployment Trust Fund through 1955.
Less than $500,000,
Footnotes to Table 6
1/
2/
2/
i/
5/
Accrued discount on savings bonds and bills les interest paid
savings bonds and bills redsemed.
Public debt interest due and accrued beginning June 30, 1955, effecti'
date of the change In accounting and reporting from a due and payable
basis to an accrual basis; for 1954, consists only of pubUc debt
interest checks and coujjons outstanding; net increase, or decrease
(-).
Not reported as a separate clearing account prior to 1954.
Treated as noncash expenditures at the time of issuancs of the
securities and as cash expenditures at ths tine of their redeiption;
net isstlance, or redenption (-).
Issued in 1936 in exchange for adjusted service certificates held by
veterans of World War I. The bonds matured in 1945.
Issued in 1947 in payment for accujmilated leave. The last of these
bonds matured in 1951.
6/
7/
8/
Part of the United States subscription to the capital
of the Intej^
national Monetaiy Fund was paid in the form of
noninterest-bearing
nonnegotiable notes payable on demand (see 1947 Annual
Report of
the Secretary of the Treasury, pages 48, 350, and
385).
Checks outstanding less deposits in transit, and changes
in other
accounts; net increase, or decrease (-). Prior to
1954 includes
also public debt interest due and unpaid (see footnote
2).
Includes tl,031 million of notes issued as part of the
additional
United States subscription to the Fund authorized
by Public Uw
86-48, approved June 17, 1959 (see "Budget Receipts and
Expenditures," Table 3, footnote 10).
Less than $500,000.
Footnotes to Table 7
1/
^
V
In this table, beginning 1954, in accordance with treatment in Budget
documents, net investment in United States securities by Governmentsponsored enterprises includes a small amount by other enterprises
jsrded as repressnting net transactions with the public.
In Table 4
;er "Trust Account and Other Transactions," these amounts are In:?d in trust and deposit fund accoxint investment.
-^s
not include investments representing acquired securities amounting
to $1,643,070 (par value) and donation of securities amounting to
$45,800 (par value).
Accrued discount on savings bonds and bills, which is Included in the
principal of the public debt, lesc interest paid on savings bonds and
bills redeemed.
i/
5/
6/
2/
»
Treated as noncash transactions at the time of Issuance and as cash
transactions at the time of redemption; not 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 from receipts in Table 3.
Market transactions in public debt seciirlties and agency obligations.
less than $500,000.
.
1«
Treasury Bulletin
.ACCOUNT OF THE TOEASDRHl OF TOE UKITII) STATES.
Source and Availability of the Balance In the Treasurer's Account
The account of the Treasurer of the United States
reflects not only budget receipts and expenditures but
also trust,
account to the tax and loan account In the same bank. On
occasions, to the extent authorized by the Treasury,
deposit fund, and public debt transactions.
banks are permitted to deposit In these accounts proceeds
from subscriptions to public debt securities entered for
The working cash of the Treasury 1b held mainly In
their own account as well as for the account of their
Treasurer's accounts with Federal Reserve Banks and
customers.
branches.
As the balances In these accounts become dethey are restored by calling In (transferring)
funds from the tax and loan accounts with thousands of
commercial banks throughout the country.
pleted,
The tax and loan account system permits the Treasury
to leave funds In banks and in the oomniunltles In which
they arise until such time as the Treasury needs the funds
for Its operations.
Deposits to tax and loan accounts occur In the
normal course of business under a uniform procedure
In this way the Treasury Is able
to neutralize the effect of Its fluctuating operations
on bank reserves and the economy.
applicable to all banks whereby customers of bainks deposit
with them tax payments and funds for the purchase of
A detailed description of the Treasury's depositary
Government securities.
In most cases the transaction
Involves merely the transfer of money from a customer's
system may be found In the Annual Report of the Secretary
of the Treasury for 1955,
pages 275-2Sl|.
Table I.- Status of the Account of the Treasurer of the United States
(in millions of dollars)
Treasury operating balance
Available
Federal
Reserve
Banks
1952
1953
132
875
380
522
1954
1955
1956
1957
1958
1959
498
410
535
Tax and loan
accounts in
special
depositaries
5,106
3,071
4,836
4,365
4,633
Gold in
Treasury
fund
1,009
984
497
493
501
4,082
8,218
3,744
Silver,
Total
coin, and
operating ciirrency
balance
Unclassified
collections,
etc.
In Federal
Reserve
Banks in
process of
collection
Liabilities
1/
In other
depositarie
account of
Treasurer
of U. S.
6,448
4,187
6,207
5,239
5,656
194
161
191
187
159
450
463
520
500
438
7,481
5,096
7,243
6,362
6,712
512
426
476
166
6,969
4,670
6,766
6,216
6,546
5,069
9,030
4,380
190
259
306
440
365
6,037
9,990
429
5,451
447
240
100
5,590
9,749
5,350
297
289
279
406
392
424
5,930
6,709
U6
2/
1958-Dec.,
1959- July.
Aug..
Sept.
Oct.,
Nov,.
Dec,
1960-Jan..
Feb.
Mar.
Apr.
522
537
704
4,364
5,227
5,353
106
110
102
4,992
5,875
6,159
488
582
504
4,990
3,559
4,216
109
102
106
5,587
4,243
4,825
380
378
371
6,482
5,081
5,696
6,376
4,968
567
3,246
3,843
3,738
102
100
109
3,915
4,397
4,395
431
411
360
4,969
4,862
5,406
5,297
108
5,311
5,189
5,215
4U
6,412
118
6,294
4,490
Source: Dally Treasury statement.
1/ Consists of Treasurer's checks outstanding, reserve and other deposits
of Board of Trustees of the Postal Savings System, uncollected items,
exchanges, etc., beginning December 1954; prior to that tinK included
also Post Office Department and Postmasters' disbursing accounts (see
footnote 2)
2/ Beginning December 1954, Post Office Efepartment and Postmasters'
5,837
6,617
7,017
7,103
5,583
disbursing accounts are no longer treated as liability accounts
of the Treasurer of the United States, but are classified, and
treated in the same manner as other disbursing accounts, in
accordance with the change in method of reporting Post Office
transactions (see "Budget Receipts and Expenditures," Table 3).
An adjustment of - $207 million in the balance in the Treasurer'
account (and in the "clearing account") reflects this change.
2/
June i960
19
-ACCOUNT OF THE TPEASURE3? OF THE UNITED STATES.
Table 2.- Analysis of Changes In Tax and Loan Account Balances
(in millions of dollars)
Proceeds from sales of securities 1/
Tax
anticipation
securities
1952
1953
1954
1955
1956
2,667
3,457
i,424
3,810
1957
1958
1959
2,976
2,824
2,668
2,226
4,679
2,231
2,333
Withheld
End of
period
Income (by
and
Low
Average
excise 2/
2,451
5,243
6,861
5,977
6,035
287
5,041
4,304
8,167
786
13,579
15,859
19,898
20,538
23,897
13,270
10,227
4,791
2,967
4,611
5,043
2,922
7,581
6,568
13,513
13,164
26,709
27,881
29,190
4,152
7,903
5,919
36,493
41,267
5,106
3,071
4,836
4,365
4,633
5,409
8,776
7,493
39,U0
37,066
43,303
39,879
42,545
38,871
7,299
5,486
1,425
950
1,649
1,910
1,103
3,255
4,212
3,870
3,991
3,373
45,448
55,044
58,520
46,000
50,908
62,994
4,082
8,218
3,744
6,078
813
2,987
3,246
3,638
5,523
3,468
4,355
5,801
4,364
5,227
5,353
5,765
5,382
5,454
2,467
2,916
2,885
4,486
4,179
4,276
4,857
5,Z12
2,384
2,773
3,058
4,374
3,808
4,170
U,644
42,074
195 8- December
1959-July
August.
Septembe]
October.
November,
December.
202
176
172
1,3U
2,135
1,921
1960-Januaiy .
Februaiy
March.
.
.
6,421
4,816
3,665
3,057
1,285
4,5U
3,952
4,388
1,072
3,463
3,067
63
1,109
5,396
3,660
6,322
5,759
5,091
5,665
4,990
3,559
4,216
3,384
4,235
5,539
4,354
3,638
5,644
3,738
3,843
4,642
2,891
1,716
2,248
3,464
3,126
3,425
3,413
2,662
4,490
4,490
1,390
3,075
1,059
3,932
3,559
36
3,246
3,843
April....
Source: Office of Fiscal Assistant Secretary; figures are on basis of
telegraphic reports.
Special depositaries are permitted to make payment In the form of
a deposit credit for the purchase price of United States GoTemment
obligations purchased by them for their own account, or for the
account of their customers who enter subscriptions through them,
when this method of payment is permitted under the terms of the
circulars inviting subscriptions to the Issues.
2/ Taxes eligible for credit consist of those deposited by taxpayers
in the depositary banks, as follows: Withheld income tax beginning
1/
2/
5,663
4,559
March 1948; taxes on employers and employees under the Federal
Insurance Contributions Act beginning January 1950, and under
the Railroad Retirement Tax Act beginning July 1951; and a
number of excise taxes beginning July 1953.
tinder a special procedure begun in March 1951, authorization
mgy be given for income tax payinents, or a portion of them,
made by checks of $10,000 or more drawn on a special depositary
bank to be credited to the tax and loan accoiint in that bank.
This procedure is followed during some of the quarterly periods
of heavy tax payments.
.
,
,
.
)
Treasury Bulletin
.DEBT OUTSTANDIKG.
Table 1.- Summary of Federal Securities
(In millions of dollars)
Matured debt and debt bearing
Interest-bearing debt
Total outstanding
Public debt
Public
debt 2/
Total 1/
securitles 2/
ties 2/
1952
1953
1954
1955
1956
1957
1958
1959
,
,
259,151
266,123
271,341
274,418
272,825
259,105
266,071
271,260
274,374
272,751
270,634
276,444
284,817
270,527
276,343
284,706
74
107
1958-Eecember.,
283,031
282,922
1959-July
August. ..
September
288,792
290,506
288,412
288,682
290,396
288,296
110
111
October. .
November.
December*.
291,372
290,713
290,925
291,253
290,589
290,798
118
124
127
291,215
290,719
286,965
291,085
290,583
286,826
288,919
288,787
1960-Januai7. .
Februaiy.
March
.
256,907
263,997
268,990
271,785
269,956
256,863
263 ,946
268,910
271,741
269,883
268,592
274,798
281 ,9U
268,486
274,698
281,833
280,947
280,839
285,948
287,709
285,602
285,840
287,599
Monetary
Fund i/
U
44
419
298
437
589
666
1,274
1,302
1,411
1,567
1,742
502
477
460
2,042
1,646
2,873
2,042
1,646
2,873
529
597
476
1,068
618
1,979
444
430
417
437
412
426
1,989
1,971
1,971
618
1,981
2,055
2,065
757
2,084
285 ,486
2,842
2,797
2,810
288,596
287,866
287,830
288,478
287,742
287,704
118
124
127
2,776
2,847
3,095
2,775
2,847
3,094
138
288, a5
287,723
283,910
288,086
287,588
283,772
3,000
2,996
3,055
2,999
2,995
3,054
132
285,904
285,773
3,015
3,0U
Source: Daily Treasury statement.
1/ Includes certain obligations not subject to statutory limitation. For
amounts subject to lijoitation, see page 1.
Includes debt incurred to finance Government agencies (see Table 6).
Excludes guaranteed securities held by the Treasuiy.
Consists of Federal Housing Administration debentures beginning 1953
and also D. C. Armory Boairi stadium bonds beginning July 1959.
y
(matured
2,242
2,125
2,350
2,633
2,868
2,844
2,798
2,810
116
Other
6/
2,244
2,126
2,351
2,634
2,869
109
110
115
494
459
463
416
4U
413
410
410
2,095
2,127
2,181
Ul
2,191
Special notes of the United States issued to the International Monetary
Fund in payment of part of the D. S. subscription. In 1959, $1,031
million of notes were issued for part of the additional subscription
authorized by an act approved June 17, 1959 (see "Budget Receipts and
Expenditures," Table 3, footnote 10).
For current month detail, see "Statutory Debt Limitation," Table 2.
2/
2/
ij
Table 2.
Guaranteed
securities
Guaran-
Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in milllona)
Computed annual interest rate
Total intereat-bearing securities
Amount
outstanding
End of
fiscal yea
or month
Public debt
and guaranteed securi-
Public debt
and guaranteed securities 1/
tiesl/
1952
Computed annual
interest charge
Public debt
Total
interestbearing
securi-
Total
public
debt
Total
Bills
1/
2/
256,907
263,997
268,990
271,785
269,956
256,863
5,982
6,432
6,300
6,388
6,952
5,981
6,431
6,298
6,387
6,950
2.329
2.438
2.342
2.351
2.576
2.329
2.438
2.342
2.351
2.576
2.051
2.207
2.043
2.079
2.427
1.711
2.254
268,910
271,741
269,883
268,592
274,798
281,944
268,486
274,698
281,833
7,328
7,248
8,069
7,325
7,245
8,066
2.730
2.638
2.867
2.730
2.638
2.867
2.707
2.546
2.891
3.197
1958-Itecember..
280,947
280,839
7,546
7,543
1959^July
August ...
September
285,948
287,709
285,602
285,840
287,599
285 ,486
8,299
8,815
8,939
8,296
8,812
8,935
2.909
3.072
3.137
2.909
3.072
3.138
October.
November.
December.
288,596
287,866
287,830
288,478
287,742
287,704
9,193
9,357
9,469
9,190
9,354
9,466
3.194
3.260
3.300
3.194
3.260
3.300
1960-Januaiy,
February.
March ...
288,215
287,723
283,010
288,086
287,588
283,772
9,576
9,686
9,443
9,573
9,683
9,440
3.334
3.378
3.336
3.334
3.378
3.336
285,904
285,773
9,477
9,474
3.325
3.325
1953
1954
1955
1956
,
,
1957
1958
1959
,
,
,
AprU
263 ,946
Source: Daily Treasury statement.
Hotes The computed annual interest charge represents the amount of Interest
that would be paid if each interest-bearing issue outstanding at the end
of each month or year should remain outstanding for a year at the applicable annual rate of interest. The charge is computed for each issue by
applying the appropriate annual interest rate to the amoiint outstanding
on that date. The aggregate charge for all interest^bearing issuss
constitutes the total computed annual interest charge. The average
annual interest rate is computed by dividing the computed annual interest
chaise for the total, or for any group of issues, by the corresponding
2.480
2.485
2.659
2.720
2.751
2.789
2.824
2.675
2.746
2.671
2.585
2.705
2.578
2.575
2.547
2.590
2.606
2.482
2.576
2.619
2.853
2.892
2.925
2.635
2.630
2.694
2.611
2.622
2.628
2.909
2.646
2.928
2.931
3.159
2.699
2.699
2.699
2.624
2.634
2.632
2.619
2.619
2.619
3.166
3.171
3.189
2.699
2.701
2.701
2.632
2.638
2.652
3.917
4.010
4.006
2.619
2.619
2.619
3.193
3.199
3.206
2.702
2.707
2.707
2.657
2.659
2.660
4.001
2.627
3.211
2.707
2.678
1.875
2.319
1.928
1.173
2.625
1.560
1.754
1.838
1.846
2.075
1.033
3.316
3.345
3.330
2.842
2.504
2.806
3.304
2.954
3.207
3.238
3.577
3.670
3.847
2.842
3.650
3.650
3.302
3.782
3.776
2.619
2.619
2.619
3.319
3.418
4.111
4.265
4.500
3.650
4.130
4.130
3.838
3.910
3.918
3.584
3.523
4.677
4.666
4.475
4.130
4.749
4.749
3.500
4.323
4.749
3.473
3.518
1/
%/
2/
Ij
.843
1.539
2.654
Guaranteed
securi-
marketable
issues
2.317
2.342
2.ao
principal amount. Beginning with data for December 31, 1958, the
computation is based on the rate of effective yield for issues sold
at premium or discount.
Prior to that date it was based on the
coupon rate for all issues.
Excludes guaranteed securities held by the Treasury.
Total Includes "Other bonds"; see Table 3.
Included in debt outstanding at face amount, but discount value is
used in computing annual interest charge and annual interest rate.
On United States savings bonds the rate to maturity is applied
against the amount outstanding.
Jane I960
21
-DEBT OOTSTANDHG.
Table 3.- Interest-Bearing Public Debt
(in millions of dollars)
Public Issues
Total
interestbearing
public
debt
1952
1953
1954
Nonmarketable
Treasury bonds
Total
public
Bank
eligible
219,124
140,407
223 ,408
U7,335
1955
1956
256,863
263, 9i6
268,910
271,741
269,883
226,681
228,491
224,769
1957
1958
1959
268,486
274,698
281,833
1958-Dec..
1959-July.
150,354
155,206
154,953
17,219
19,707
19,515
19,514
20,808
15,854
18,405
13,836
16,303
221,658
228,452
237,078
155,705
166,675
178,027
23,420
22,406
32,017
32,920
33,843
280,839
235,999
175,586
285,840
287,599
285,486
241,779
242,876
241,086
183 ,057
288,478
287,742
287,704
28,423
20,473
18,963
30,425
31,960
40,729
35,952
30,973
20,416
27,3U
48,200
63,980
71,706
81,057
81,840
Treasxiry
Other
bonds
Bank restricted
Treasury
savings
notes
2/
1/
27,460
17,245
8,672
80,789
90,883
84,803
78,717
76,073
76,326
73,285
69,817
57,685
57,886
58,061
58,365
57,497
65,953
61,777
59,050
54,622
51,984
50,503
6,612
4,453
5,079
1,913
14,046
13,288
12,775
12,589
12,009
373
11,135
196
171
46,827
46,246
44,756
9,017
44,840
44,061
44,723
44,400
26,072
27,341
40,654
40,758
84,794
84,786
84,778
58,722
58,413
58,029
50,221
49,983
183 ,057
33,843
20,343
20,343
49,7a
8,318
8,251
8,132
244,882
244,160
244,197
187,433
186,957
188,269
39,130
39,134
39,643
20,343
19,669
19,669
43,U1
U,152
84,770
84,763
84,754
57,449
57,204
55,928
49,434
49,280
48,154
7,824
7,736
7,590
245,456
Feb..
Mar..
288,086
287,588
283,772
240,515
189,856
189,384
185,437
41,156
41,160
37,153
19,669
15,245
15,238
44,235
48,198
48,284
84,746
84,731
84,713
55,600
55,370
55,078
47,877
47,825
47,754
7,539
7,370
7,152
Apr.
285,773
242,930
188, U7
37,144
15,245
50,571
85,137
54,783
47,642
6,970
Oct..
Nov..
Dec.
I960- Jan..
2U,753
43,341
60,412
Source: Daily Treasury statement.
1/ Issues which commercial banks (banks accepting demand deposits) were
not permitted to acquire prior to specified dates, except that:
(1)
concurrently with the 4th, 5th, and 6th War loans and the Victory
Loan,
they were permitted to subscribe for limited investment of
Table 4.
2/
37,739
40,538
42,229
43,250
45,114
8,365
36,364
184,463
447
411
417
310
9,6a
37,029
38,631
37,128
Aug..
Sept.
Depositary
bonds
bonds,
investment
series
43,596
188
184
43 ,582
183
42,630
42,835
43,257
174
171
43,506
42,843
their savings deposits; (2) they might temporarily acquire
such issues through forfeituire of collateral; (3) they might
hold a limited amount of such issues for trading purposes.
Consists of Panama Canal bonds, and also postal savings bonds
until the last of these bonds matured on July 1, 1955.
Average Length and Maturity Distribution of Marketable Interest-Bearing Public Debtl/
(In millions of dollars)
Maturity classes
End of
fiscal year
or month
1952
Amount
outstanding
U0,407
U7,335
years
13,933
15,651
27,515
34,253
28,908
25,700
28,662
28,634
28,613
28,578
6,594
1,592
1,606
3,530
4,351
5 yrs.
7U
47,814
36,161
29,866
39,107
34,401
1957
1958
1959
155,705
166,675
178,027
71,952
67,782
72,958
40,669
42,557
58,304
12,328
a, 476
17,052
26,407
27,652
4 yrs.
a, 6 25
4 yrs.
1958-December.
175,586
72,616
53,803
17,167
24,79j>
1959-July
August...
September
183,057
184,463
77,970
75,158
73,656
58,331
62,556
62,660
17,052
17,051
17,051
a, 617
a, 611
a, 604
October.
November.
December.
75,836
77,947
79,941
81,455
76,735
72,7a
64,864
62,284
61,609
61,691
72,849
72,934
18,326
18,325
22,139
February.
March
187,433
186,957
188,269
189,856
189,384
185,437
April.
188, U7
72,807
75,133
,
1953
1954
1955
1956
,
,
1960-Jaliuaiy .
.
. .
150,354
155,206
154,953
183 ,057
46,367
65,270
62,734
49,703
Average length
5-10
Within
1 year
58,
Source: Debt Analysis Staff in the Office of the Secretary.
1/ All issues classified to final maturity except partially
7,206
yrs.
4 yrs.
4 yrs.
4 yrs.
4 yrs.
20,3a
15,240
19,931
8,085
8,085
8,084
7,194
7,193
19,930
12,649
7,629
U8
5
5
5
20,316
16,494
16,489
17,365
12,659
22,
yrs.
yrs.
yrs.
5 yrs.
5
4 yrs.
4 yrs.
4 yrs.
4 yrs.
4 yrs.
4 yrs.
4 yrs.
tax-exempt bonds, which are classified to earliest call date.
.
,
.
Treasury Bulletin
JDEBT OUrSTANDHC-
Table 5.- Special Issues to United States Government Investment Accounts
(In
Federal
Deposit
1952.
1953.
1954.
1955.
1956.
37,739
A0,538
42,229
43,250
1957.
1958.
1959.
46,827
46,246
1958-Deoeiiiber.
44,840
1959-July..
August
September.
45, lU
December,
1960-January.
Februaiy,
March. .
April.
996
1,533
44,061
44,723
44,400
6a
1,556
43,596
43,582
43,506
42,630
42,835
43,257
616
622
629
42,843
Federal
home
loan
banks
846
892
835
673
718
673
629
U,756
October.
November
Federal
Disability
Insurance
Trust
Fund
628
628
325
165
165
Federal
Old-Age
millions of dollars)
Federal
Savings
and Loan
Federal
employee;
retirement
funds
National
Highway Service
Trust
Life
Fund
Postal Railroad
Savings RetlreSystem
Accoimt
1/
Other
2/
Jane 1960
23
.DEBT OUrSTANDHC.
Table 6.- Treasury Holdings of Securities Issued by Governinent
Corporations and Other Agencies
(In millions of dollars)
:
:
)
.
Treasury Bulletin
2k
.STATUTORY DEBT LIMITATION.
The Second Liberty Bond Act
(
3I U.3.C.
757 ^),
as
amended by an act approved June 30, 1959 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 Secretary of the Treasury), shall not exceed In the aggregate t2S5 billion out-
standing at any one time. The corresponding limitation
In effect under the act of June 26, I9U6, was $275 billion
and that under the act of September 2, 195S» was t2S3
In addition, temporary Increases have been
billion.
authorized as follows: $b billion beginning on August 2S,
1954, and ending on June
3^^*
195^ (acts approved August 2&,
195^, and June 30, 1955); S3 billion beginning on July 1,
and ending on June 30, 1957 (act approved July 9,
1956); 35 billion beginning on February 26, 1953, and
ending on June 30, 1959 (act approved February 26, I95S);
and 310 billion beginning on July 1, 1959. a^^d ending on
1956,
June 30, i960 (act approved June 30, 1959). Obligations
Issued on a discount basis, and subject to redemption prior
to maturity at the option of the owner, are Included In the
statutory debt limitation at current redemption values
Table 1.- Status under Limitation, April 30, 1960
(In millions of dollars
Maximum amount of securities which may be outstanding at any one time under limitation
of June 30, 1959 (31 U.S.C . 757 b)
iii5)osed
by the act
295 ,000
Amount of securities outstanding subject to such statutory debt limitation:
U. S. Government securities issued under the Second Liberty Bond Act, as amended
Guaranteed securities (excluding those held by the Treasury)
288,379
132
Total amoiint of securities outstanding subject to statutory debt limitation
288,511
Balance issuable under limitation
Source:
6,^89
Daily Treasury statement.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
OutBtandlng April 30, 1960
(In millions of dollars)
Class of security
Subject to
statutoiy debt
limitation
Not subject to
statutory debt
limitation
Interest-bearing securities:
Marketable
Treasury bills
Certificates of indebtedness,
Treasuiy notes
Treasury bonds
Panama Canal bonds
37,1U
15,2^5
50,571
85,137
Total marketable.
Nonmarke table
U. S, savings bonds (current redenqition value)
Depositaiy bonds
Treasury bonds, investment
,
i7,642
171
6,970
Total nonmarketable
Special issues to Government agencies and trust funds.
Total interest-bearing securities
Matured securities on which interest has ceased
Debt bearing no interest:
United States savings staiq}8
,
Excess profits tax refund bonds
Special notes of the United States, International Monetaiy Fund Series,,
United States notes (less gold reserve)
Deposits for retirement of national bank and Pederal Reserve Bank notes.
Other debt bearing no interest
,
Total debt bearing no interest.
Total public debt
Guaranteed securities: 1/
Total guaranteed securities
Total public debt and guaranteed securities.
288,511
-
Total
outstanding
Jane i960
25
PUBLIC DEBT OPERATIOMS
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securltlec
Outstanding April 30, 1960
Other Than Regular Weekly Treasury Bills
(In millions of dollars)
26
June
mo
27
,
PUBLIC DEBT OIERATIONS
Table 2.- Offerings of Treasury Bills
(Amounts In millions of dollars)
Treasury Bulletin
28
PUBLIC DEBT OPERATIONS
Table 2.- Offerings of Treasury Bills
Average pric
per hundred
Equivalent average
rate 7/
Price per
1960-Feb.
4
[98 979
197.724
4.039
4.501
Feb.
11
99. 099
1,97.930
3.563
4.094
(98.946
197.778
4.169
4.396
f
Feb.
18
Feb.
25
Mar.
3
4.277
4.458
Mar.
10
3.641
4.024
Mar.
17
3.450
3.619
Mar.
24
31
Apr.
7
Apr.
U
Apr.
21
Apr.
28 p
May
5 p
May
12 p
Hay
May
19 p
26 p
Tax anticipation bills:
1959-Oct.
1960-Jan.
8 I/.
1959-May
July
1960-Jan.
Apr.
(Continued)
blind red
Equivalent rate 7/
(Percent)
Regular weekly bills:
Mar.
-
On competitive bids accepted
On total bids accepted
(99.084
198.052
3.622
3.854
3.306
3.705
3.274
3.521
1,97.978
3.793
4.000
[99.116
198.034
3.497
3.867
96.745
97.821
4.783
4.726
96.378
95.193
95.680
94.849
95.328
3.835
4.728
(99.041
5.067
4.608
98.988
97.735
Price per hundred
Equivalent rate 7/
Jtine
1960
29
PUBLIC DEBT OPERATIOIB
Table 3.- New Money Financing through Regular Weekly Treasury Bills
(DollAr amousta In millions
)
Description of Issue
Number of
dSTB to
Amount
of bids
tendered
Amount
of bids
accepted
Average rate
on bids
accepted 1/
mfttxirltj
(ftircentj
July
23
Aug.
Aug.
Aug.
20
27
Sept.
Sept.
Sept.
Sept.
Oct.
Oct.
Oct.
1
8
15
( 1,501
2.320
2,166
2,340
2,087
1,500
1,501
1,501
2.352
2.092
2.084
3
1,782
2,290
2,207
1,985
1,500
1,400
1,501
1,500
2.416
10
17
24
2,192
2,167
2,277
1,500
1,501
1,500
2.106
2.007
2.106
2,023
1,501
1.953
Oct.
2,119
2,258
2,390
2,403
1,600
1,600
1,600
1,601
1.541
1.606
1.619
1.720
Mot.
Not.
Not.
Not.
2,328
2,292
2,369
2,178
1,601
1,601
1,601
1,600
1.850
Dec.
Deo.
Dec,
Dec.
Dec.
2,202
2,282
2,654
2,328
2,317
1,600
1,602
1,602
1,601
1,601
2.088
2.135
2.104
1.981
2.122
2,624
1,700
3.283
May
May
May
May
2,626
2,719
2,580
2,741
1,700
1,700
1,800
1,802
3.133
3.057
1955- Oct.
Oct.
Oct.
6
1959- Jan.
Jan.
Jan.
Jan.
Jan.
2,348
2,416
1,700
1,700
2,388
2,430
2,682
2,751
1,700
1,700
1,701
1,702
2.753
2.858
2.591
2.587
2,436
1,700
1.532
2,550
2,636
2,576
1,800
1,800
1,800
2.359
2.604
2,291
2,382
3,088
2,987
2,872
1,801
1,800
1,803
1,800
1,803
2.920
2.668
2.927
2.804
2.647
2,5U
Feb.
Feb.
2,814
2,857
1,802
1,801
2.649
2.774
fMar.
\ June
2,407
1,600
400
2.805
3.081
fMar.
2,476
764
1,600
fMar.
\ June
2,394
834
1,601
400
1,073
/Apr.
\july
(Apr.
\july
(Apr.
iJuly
at end of table.
1.875
3.246
3.239
2,769
2,830
Apr.
Apr.
Apr.
Apr.
2.323
2.228
1.954
2,178
734
(Continued on folloring page)
400
1,600
400
2.690
2.920
1,599
400
2.678
2.959
1,600
401
Ireasury Ballet..in
30
PUBLIC DEBT OPERATIONS
Table 3.
New Money Financing through Regular Weekly Treasury Bills
(Dollar amounts in mllliona)
Description of issue
-
(Continued)
June I960
31
PUBLIC DEBT OPERATIONS
Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills
Date subscrip-
Treasury Bulletin
32
PUBLIC DEBT OPERATIONS
Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued)
Date subBcription books
Jane I960
33
PUBLIC DEBT OPERATIONS .
Table 4.
Date gubacrlptlon books
Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued)
Treasury Bulletin
3^
PUBLIC DEBT OISIATIONS
Footnotes to Table 4
^
2^
^2/
2A/
^
2^
22/
58/
22/
^
^
22/
21/
24/
Subscriptions in excess of tlOO,000 were allotted 31 percent for the
certificates and 12 percent for the notes. Subscriptions for $100,000
or less 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.
Redeemable at the option of the holder on August 1, 1959, on three
months' advance notice.
In addition to the amounts issued in exchange, the Treasuiy allotted
$100 million of each issue to Government investment accounts.
Redeemable at the option of the holder on February 15, I960, on three
months' advance notice,
Subscriptions in excess of $100,000 were allotted 22 percent for the
certificates and 28 percent for the notes. Subscriptions for $100,000
or less for both issues were allotted in full, and subecrlptlona for
more than $100,000 were allotted not less than $100,000. In addition
to the amounts allotted to the public, $100 million of each issue were
allotted to Government investment accounts.
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 10 percent but in no case
less than $50,000,
In addition to the amount allotted to the public,
$100 million of the bonds were allotted to Government Inveatnent
accounts.
Payment for not more than 50 percent of the bonds allotted
could be deferred \intil not later than October 21, 1957.
Subscriptions for $10,000 or less were allotted in full. Subscriptions for more than $10,000 were allotted 25 percent to savings-type
investors and 12 percent to all other subscribers but in no case
less than $10,000.
In addition to the amount allotted to the public,
$100 million of the notes were allotted to Government investment
accounts.
Subscriptions for $10,000 or less were allotted in full. Subscriptions for more than $10,000 were allotted 26 percent to savings- type
investors and 10 percent to all other subscribers but in no case
lass than $10,000. In addition to the amount allotted to the public,
$100 million of the bonds were allotted to Government investment
Subscriptions for $10,000 or leas were allotted in full. Subscriptions for more than $10,000 were allotted 20 percent but in no case
less than $10,000. In addition to the amount allotted to the public,
$100 million of the bonds were allotted to Government Investmsnt
accounts.
Subscriptions for $25,000 or less were allotted in full. Subscriptions for more than $25,000 were allotted 2A percent but in no case
less than $25,000,
In addition to the amount allotted to the public,
$100 million of the notes were allotted to Government investment
accounts.
Subscriptions for $5,000 or less were allotted in fxill. Subscriptions
for more than $5,000 were allotted 60 percent to savings- type investors, ^0 percent to commercial banks for their own account, and
25 percent to all other subscribers, but in no case less then $5,000.
In addition to the amount allotted to the public, $100 million of the
bonds were allotted to Government investment accounts.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 59 percent but in no case
less than $100,000,
Subscriptions for $100,000 or less for the bills and $50,000 or less
for the notes were allotted in full. Subscriptions for mor« than the
minimum for each issue were allotted -W, percent on bills aixl 35 percent on notes but in no case less than the minimum. In addition to
the amount allotted to the public, $100 million of the notes were
allotted to Government investment accounts.
Subscriptions for $100,000 or less were allotted in full.
Subscriptions for more than $100,000 were allotted 17 percent but in no case
less than $100,000.
-
li/
2^/
Xl/
(Continued!
Subscriptions from savings-type investors totaled $720 million and
were allotted 70 percent. Subscriptions from commercial banks for
their own account totaled %l,70 million and were allotted 35 percent.
Subscriptions from all other investors totaled $610 million and were
allotted 15 percent. Subscriptions for $25,000 or less were allotte(
in f\ill when accompanied by 100 percent payment at the time of entering the subscriptions.
All other B\ib scriptions for $5,000 were
allotted in full. Subscriptions for more than $5,000 were allotted
not less than $5,000. In addition to tte amount allotted to the
pxiblic, $(50'million of the bonds were allotted to Government investment accounts. Savings-type investors were given the privilege of
paying for the bonds allotted to them in installments up to April 23
1959 (not less than 25 percent by January 23, 1959, the issue date;
50 percent by February 2i, 1959; 75 percent by March 23, 1959; and
full payment by April 23, 1959).
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 50 percent but in no case
less than $100,000, In addition, $100 million of the notes were
edlotted to Government investment accounts.
Subscriptions from savings-type Investors totaled $240 million and
were allotted 65 percent. Subscriptions from commercial banks for
their own account totaled $941 million and were allotted 35 percent.
Subscriptions from all other investors totaled $322 million and were
allotted 20 percent. Subscriptions for $25,000 or less from savingstype investors and commercial banks, and for $10,000 or less from al]
others, were allotted in full.
SubscriptlonB for more than these
minimi iwfl were allotted not less than the mlnimums.
In addition,
$50 million of the bonds were allotted to Government investment
accountsi,
38/
Full-paid subscription of $25,000 or less, totaling $941 million,
were allotted in full, Sxib script ions from savings-type investors
totaled $1,361 millio and were allotted 45 percent. Subscriptions
from commercial banks for their own account totaled $6,390 million
and were allotted 8 percent, but not less than $1,000 on any one
subscription. Subscriptions from all other investors totaled $2,433
million and were allotted 5 percent, but not less than $1,000 on
any one aubscriptlon. In addition to the amounts allotted to the
public, $100 million of the notes were allotted to Government
investment accounts.
Holders of approximately $1,600 million of Series K and G savings
bonds issued in 1948, which mature in I960, were offered in exchange
the 4-3/456 notes, with certain adjustments as of December 15, 1959,
at a price of 99-3/4%.
Smaller denominations of savings bonds
could be exchanged for the next higher multiple of $1,000 of the
notes upon payment of any cash difference. Cash payments amounted
to $3 million.
Issued as a rollover of maturing one-year bills.
Savings-type investors were given the privilege of paying for the
bonds in installments up to June 15, I960 (not less than 40 percent
by April 14, the delivery date; 70 percent by May 15; and full
payment by Jiuie 15). In addition to the amounts allotted to the
public, $100 million of the bonds were allotted to Government investment accounts.
Subscriptions for $100,000 or less were allotted in full.
Subscriptions for more than $100,000 were allotted 30 percent but in no case
less than $100,000.
In addition to the amounts allotted to the
public, $27.4 million of the notes were allotted to Government
investment accounts.
Subscriptions for $25,000 or lei IS were allotted in full. Subscriptions for more than $25,000 wer< allotted 85 percent but in no case
less than $25,000.
In addition to the amounts allotted to the
public $71 million of the notes were allotted to Government investment accounts.
Preliminary,
I
3?/
A2/
41/
^
42/
I
p
Jane I960
35
PUBLIC DEBT OPERATIONS
Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills
(In mllliono of dollars)
Issue
^
Treasury Bulletin
36
PUBLIC DEBT OPEEIATIONS
Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable Securitlc
Other Than Regular Weekly Treasury Bills 1/ - (Continued)
Cln
Issue
millions of dollars)
Jane 1960
37
PUBLIC DEBT OPERATIONS
Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills 1/ - (Continued)
(In millions of dollars)
Issue
3«
Treasury Bulletin
mo
39
PUBLIC DEBT OPERATIONS
Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills
Date of
-
(Continued)
iw
June
mo
ki
PUBLIC DEBT OPERATIONS
Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills - (Continued)
I
Hesults of exchange offers
Disposition offers
by Treasury
Called or maturing security 1/
Date of
refunding
or retire-
Amount
outetandlng
Description of new
security offered
(See also Table 4)
Turned
in for
cash 2/
Exchange
security
offered
Cash
retiromant
(In millions of dollars)
3-3/8* Certificate - 11/15/59-E
3-1/2* Note
11/15/59
12/1/58
- ll/15/59-B
10/10/58
Total maturities
4*
Note
-
9/26/57
8/15/62-B
4-3/4* Certificate
4-7/8* Note
-
ll/15/60-C
1,184
1,184
4-3/4* Certificate
i-7/8* Note
-
11/15/63-^;
8,894
8,894
2,000
2,000
4-7/8* Note
-
ll/15/63-C
1^22/59
3.565$ Bill
-
12/22/59
5/15/59
1,500
1,500 2/
1/15/60
3.386* Bill
-
1/15/60
4/1/59
2,006
2,006 iS/
3-3/4* Oertifioate -
2/15/60-A
2/15/59
11,363
'
2/15/60
1-1/2* Note
2/15/60
4* Note
-
4/1/60-EA
4/1/55
-
8/15/62-B
9/26/57
3/22/60
3/22/60
7/8/59
7/8/59
Total...
3/22/60
4/1/60
1-1/2* Note
3.835* Bill
1,684
17/
7,037
3,011
6,829
11,363
4,163
198
198
-
3-1/2* Note
I
-
4/1/55
57
4/15/60
5/11/59
2,003
5/15/60-B
5A5/59
1,269
2/15/57
-
l/a/59
5/15/60-B
6/23/60
2-1/2* Bond
11/15/61
2/15/54
I
i^
2/15/61-A
11/15/64-C
of 4-7/8* Certificate
of 4-7/8* Mote
57
1,269
2,406
2,406
2,738
2,738
6,413
6,413
/3, 500 20/
\ 1,500 20/
11,177
Preliminary figures are from subSource: Bureau of the Public Debt.
scription and allotment reports; final figures are on "clearance"
basis in daily Treasury statement.
1/ Original call and maturity dates are used.
2/ All by Investors other than Federal Reserve Banks.
2/ Tax anticipation Issue; for detail of offerings beginning 1953, see
Table 4; for amounts redeemed for taxes and for cash see "Note" below.
4/ On November 9, 1953, the Treasury purchased from the Federal Reserve
System and retired 1500 million of the 2-1/8* Treasury notes maturing
December 1, 1953. For further detail see "Treasury Bulletin" for
November 1953, page A-1.
i/ Reopening of February 2, 1953, offering (: la Table 4).
bonds would be given an
6/ It had been announced that holders of the;
^asury issue after February
opportimity to exchange them for another
This offer was Included in the .efundlngs of May 17, 1954.
15, 1954.
Table 4).
7/ Reopening of August 3, 1954, offering (1
designated tax anticipation certificates, acceptable at par plus
8/
crued Interest to maturity in payiaent of income and profits taxes
due June 15, 1956.
2/ Reopening of May 3, 1955, offering (see Table 4).
10/ Reopening of November 28, 1955, offering (see Table 4).
11/ During June 1956, $159 million of these notes were purchased by the
Treasury for account of the Sinking Fund and retired.
12/ Also designated tax anticipation certificates.
i2/ Two issues of bills, maturing January 16, 1957, and February 15, 1957,
respectively, were rolled over into two issues of tax anticipation
bills, both maturing June 24, 1957.
During June and July 1958, |491 million of the 2-5/8* Treasury bonds
of 1965 were purchased by the Treasury for retirement under Section
19 of the Second Liberty Bond Act, as amended (31 B.S.C. 754a).
15/ Called on May 14, 1958, for redemption on September 15, 1958.
lo/ Represents amount which owners exercised the option to redeem on
August 1, 1959 (see Table 4, footnote 22).
17/ Holders of the 4* notes, who had the option to redeem at par on
February 15, 1960, by giving notice not later than November 16, 1959,
were permitted to exchange their holdings on November 15, 1959, for
the 4-7/8* notes.
'
4-7/8* Certificate
[4-7/8* Note
2,003 18/
928p
243p
l,038p
t l,086p
18/
19/
20/
p
Note:
4-3/8* Certificate
4-5/8* Note
4-3/8* Certificate
U-5/8* Note
f
1
1
f
f
/l,708p
I
Total
2/15/61-A
11/15/64-C
-
f6,938
1 4,195
5/15/60
3-1/4* Note
-
3,005 2/
999 2/
4/1/60-EA
5/15/60-A
(4-7/8* Certificate
[4-7/8* Note
159
159 23/
f
4* CertificEte
of 4-3/4* Certificate
of 4-7/8* Note
f
11,561
{'
4/15/60
8,365
10,049
10,895
Total
11/15/60-C
ll/15/63-C
7,711
7,711
784p
5,787p
282p
246p
626p
3,893p
322p
5/15/61-B
5/15/65-A
-
5/15/61-B
5/15/65-A
-
5/15/61-B
fA-J/a* Certificate 5/15/65-A
(4-5/8* Note
f 3 ,674p of 4-3/8* Certificate
Note
of
2,
p
of
4-5/8*
I
113
3-3/4* Note
3-7/8* Bond
Rolled over into a one-year bill; see Table 4Amount which owners exercised the option to redeem
1960 (see Table 4, footnote 24).
Advance refunding (see page A-l).
Preli Binary.
Information on retirement
-
5/15/64-D
5/15/6S
February 15
.
Treasury Bulletin
1^2
.DNITH) STATES SAVINGS BONDS.
Serlea E and H are the only savings bonds now being
30,
1952.
Series J and E were sold from May
1, 1952,
Details of the principal changes
sold.
Series E has been on sale since May 1, 19't'l, and
Series H has been on sale since June I, 195^. Series A-D
throu^ April
were sold from March 1, 1935, through April 30, 19^1
Series F and a were sold froa May 1, 19'^1. through April
bonds teinns appear In the Treasury Bulletins of May 1931,
Table
1.-
30,
1957>
In Issues, Interest yields, maturities, and other savings
May 1952, May 1957, and October 1959.
Sales and Redemptions by Series, Cumulative through
(Dollar amounts in millions)
April 30, 1060
June 1960
'+3
.UNITED SIAEES SAVINGS BONDS.
Table 3.- Sales and Redemptlone by Periods, Series E through K
(lo mllliona of dollars)
Sales plus
accrued
discount
Sales 1/
Series E and H combined
Fiscal years:
19il-1952
1953
1954
1955 6/
1956
V
,
1957
1958
1959
,
,
,
65,J66
4,061
4,653
5,225
5,260
4,613
4,670
4,506
5,815
1,120
1,126
1,123
1,114
1,133
1,161
1,174
67,095
4,368
4,889
5,368
5,043
4,507
6,372
1,128
1,126
Calendar years
19U-1952
1953
195i
1955
1956
,
,
1957
1958
1959
,
,
4,689
4,320
Months;
1959-July
August
I
Septembe]
350
309
300
October..
November.
December.
358
332
377
1960-Januai7,.
Februaiy.
421
438
393
April
.
.
1,113
1,124
1,143
1,178
1,169
71,080
Amount outstanding
Redemptions 1/ 2/
Sales
price
V 1/
Accrued
discount 5/
Treasury Bulletin
i^k
.UNITID STATES SAVINGS BONDS,
Table 3.
Sales and Redemptions by Periods, Series E through K
(Continued)
(In millions of dollara)
Sales 1/
3
Sales plu
accrued
discount
Redemptiona 1/ 2/
Sales
price A/ 5/
Exchanges of
Accrued
discount
E bonds for
^
H bonds
I
Jane I960
+5
.UNITED
Table 4.
STiffiES
SAVINGS BONDS.
Redemptions of Matured and Unmatured Savings Bonds
5/
(In millions of dollars)
Dncla
2/
Total 1/
Series E and H
Fiscal year's:
1951
1952
1953
195A
1955
1956
1957
1958
1959
6,137
5,109
5,621
6,515
7,251
7,8i6
8,958
817
792
1,761
2,747
3,941
4,263
4,115
8,5U
3,730
3,621
38
702
1,128
1,487
1,826
1,917
1,971
1,906
1,996
772
1,015
2,318
3,171
4,230
4,246
4,156
3,393
4,701
968
1,328
1,500
2,047
1,891
2,084
1,691
2,433
7,249
4,258
3,304
1,824
1,625
5,300
4,316
3,859
3,589
3,394
3,467
4,657
4,739
3,778
518
4,9U
47
4,025
3,799
3,057
3,666
3,899
5,207
3,841
4,520
3,817
3,096
2,882
2,464
2,976
2,920
3,322
3,091
779
90
633 10/
1,260 IQ/
2,115
2,345
2,1U
2,955
2,715
2,775
2,785
3,132
1,042
1,012
904
874
619
682
1,526
179
-84
116
185
1,5U
543
Calendar years;
1951
1952
1953
195i
1955
1956
1957
1958
1959
5,651
5,074
6,U9
6,985
7,301
8,264
9,630
7,255
8,772
Months t
1959-July
September.
October.
November.
December.
742
588
1,404
I960- January.
February.
March
627
584
.
254
348
272
318
224
172
279
295
1,025
189
196
225
990 10/
1,672
2,183
2,355
2,072
1,702
2,268
as
800 8/
U8
lU
.
8/
8/
3,U5
397
412
404
330
258
296
415
425
418
300
377
437
357
283
1,097
929
917
593
689
979
1,886
750
1,075
48
-132
296
248
263
-157
-34
April
Source: Daily Treasuiy statement; Debt Analysis Staff in the Office of
the Secretary.
Note: In these tables Series A-F and J sales are included at issue price
and redemptions and amounts outstanding at current redemption values.
Series G, H, K are included at face value throughout. Matured
bonds which have been redeemed are included in redemptions. Matured
F and G bonds outstanding are included in the interest-bearing debt
until all bonds of the annual series have matured when they are
transferred to matured debt upon which interest has ceased.
Sales and redemption figures include exchanges of minor amounts of
1/
(1) matured series E bonds for series G and K bonds from May 1951
through April 1957 and (2) series F and J bonds for series H bonds
beginning January 1960; however, they exclude exchanges of series E
bonds for series H bonds, which are reported in Table 3.
2/ Details by series on a cumulative basis and by periods for Series A-D
combined will be found in the Februaiy 1952 and previous issues of the
"Treasury Bulletin."
2/ Includes both matured and unmatured bonds; see Table 4^/ Includes total value of redemptions not yet claaaified between sales
price and accrued discount.
A change in procedure, beginning in June 1954, for processing redeemed
savings bonds has resulted in a high level of redemptions not yet
classified by yearly series of issue. This increase temporarily
,
^
6/
2/
8/
2/
10/
obscures the relationship between the redemption columns showing
sales price and accrued discount in Tables 2 and 3 and also the
relationship between the matured and unmatured sections of Table 4.
The subsequent distribution of this high
(See also footnote 4).
level of unclassified redemptions may be large enough in any month
to show redemptions of matured and unmatured bonds in Table 4 which
are greater than the total redemptions for that month.
Reductions were made in issues and redemptions of Series E, H, F, G,
J, and K In July 1954 to compensate for the erroneous inclusion of
reissue transactions in June 1954 as reported in the daily Treasury
statement. The amounts involved were as follows: $18 million for
issues of Series E and H and tl7 million for issues of Series F, G,
J, and K; and $35 million for unclassified retirements.
Series F and G sales were discontinued April 30, 1952, and Series
J and K sales were discontinued April 30, 1957.
Sales figures after
April 30, 1957, represent adjustments.
Includes the December 1959 exchanges of series 1948 F and G bonds
for 4-3/45S marketable notes of which $692 million were reported in
December 1959, $51 million in January 1960, and $3 million in
February 1960.
Represents changes in the amounts of redemptions not yet classified
as between matured and unmatured issues.
Includes exchanges of Series 1941 F and G savings bonds for Treasury
•
3-1/4* bonds of 1978-83.
tess than $500,000.
Treasury Bulletin
1+6
.OWNERSHIP OF FEDERAL SECURITI£S.
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In
milUono of dollars)
Interest-bearing securities issued
by the D, S. Government
Total
Federal
securities outstanding
1/
Interest-bearing Becurltles gaaiv
anteed by the U, S, Government
^
Held by U. S, Government
investment accounts 2/
Total
outstanding
Held by private
estors 2/
Held by
0. S.
Government
investment
accounts
Public
market-
Banks
public
Federal
Reserve
Banks 2/ l/
197,598
192,655
127,875
126,304
46,827
46,246
44,756
23,035
25,438
189,949
193 ,418
127,179
134,593
26, OU
201,235
1U,983
62,770
58,825
56,252
9,498
44,840
26,347
200,154
142,620
57,534
2,084
9,976
9,862
9,784
44,061
4i,723
44,400
26,543
26,690
26,563
205,259
206,325
204,739
U9,321
55,939
55,653
55,284
2,844
2,798
2,810
9,895
10,117
10,098
43,596
43,506
26,631
26,922
26,648
208,356
207,122
207,451
152,638
154,226
10,496
10,322
10,330
42,630
42,835
43,257
25 ,464
53,157
53,588
25,209
25,264
209,497
209,223
204,920
53 ,127
10,283
42,843
25,558
207,089
256,863
263,946
268,910
271,741
269,883
4A,335
47,560
49,340
50,536
1957.
1958.
1959.
270,63i
284,817
268,486
274,698
281,833
1958-Deo
283 ,031
280,839
1959-July..
August
September
288,792
290,506
288, A12
285 ,840
October,
November
December
291,372
290,713
290,925
288,478
287,742
287,704
1960-Januaiy,
February
291,215
290,719
286,965
287,588
Jteroh...
283 ,772
April...
288,919
285,773
287,599
285 ,486
37,739
40,538
42,229
43,250
53 ,470
6,596
7,021
7,111
7,286
8,356
55,501
55,842
54,554
8,674
9,596
9,799
54,J)38
54,037
54,584
54,184
53 ,491
53,698
53,604
53 ,125
45,1U
43 ,582
Daily Treasury statement for total amounts outstanding; reports
from agencies and trust funds for securities held by U. S. Government
investment accounts; and reports from Federal Reserve System for
securities held by Federal Reserve Banks.
Includes certain obligations not subject to statutoiy limitation.
For amounts subject to limitation, see page 1.
Includes accounts under the control of certain U, S . Government
agencies whose investments are handled outside the Treasury.
191 ,640
194,533
Soxirce:
2/
1/
J/
^
i/b/
189,63
259,151
266,123
271, 3il
27i,418
272,825
iU
debt
bearing
22,906
24,746
25,037
23,607
23,758
1952.
1953.
195i.
1955.
1956.
276,
Held by
private
investor
115,185
119,129
ia,771
150,672
U9,455
2,2U
74,437
72,511
72,762
69,723
66,351
2,126
2,351
2,634
2,869
106
101
110
2,042
1,646
2,873
54,711
54,484
53,225
118
124
127
2,776
2,847
3,095
156,701
156,599
152,477
52,795
52,624
130
135
138
3,000
2,996
3,055
154,936
52,153
153 ,645
52,4A3
3,015
The total amount of interest-bearing securities held by private investors
is calculated by deducting from the total amount outstanding the amount
held by tJ. S. Government investment accounts and Federal Reserve Banks.
Excludes guaranteed securities held by the Treasury.
All public marketable issues.
All public marketable issues except for 1952, which includes $1 million
of Commodity Credit Corporation demand obligations.
less than $500,000.
J^/
6/
»
Table 2.- Net Market Purchases or Sales of Federal Securities for
Investment Accounts Handled by the Treasury i/
(In milliona of dollars; negative figures are net sales)
Apr.
1942.
1943.
-U.5
19U.
-9.9
1945.
-67.5
Aug.
Sept.
-90.3
-105.1
-48.1
-4.4
-.2
1.0
-72.9
-11.5
-5.9
1946.
1947.
1948.
1949.
1950.
1951.
-6.6
36.8
-1.8
13.5
261.2
1952.
1953.
1954.
22.1
24.6
7.0
6.7
8.8
-4.0
1955.
1956.
1957.
1958.
1959.
1960.
July
)fcy
-20.9
12.0
30.0
1940..
1941..
77.2
-9.8
72.6
-123.4
U.l
17.5
-155.9
23.0
16.5
-35.2
-10.0
-34-4
-U5.8
-16.5
-55.6
20.5
-56.4
-67.8
-18.5
-17.0
3.3
-61.3
-12.1
.4
-338.6
-30.4
-69.8
-359.2
1.1
-157.8
-609.1
5.4
-54.7
-1.9
11.4
6.3
482.7
19.9
36.2
-2.9
18.9
10.7
13.4
29.9
46.7
35.4
10.6
62.2
-2.1
43.1
16.4
U.O
ists of purchases or sales made by the Treasury of securities
issued or guaranteed by the U. S. Government for (1) trust funds which
by law are lander the control of the Secretary of the Treasury or of the
Treasurer of the United States, and (2) accounts under the control of
certain U, S. Government agencies whose investments are handled through
the facilities of the Treasury DepartnBnt.
It will be noted that these
2.9
35.9
2.8
56.2
5.7
313.4
-86.3
53.1
-88.4
3.8
-2.0
4.7
5.1
3.5
1.5
-15.8
-19.0
20.1
-45.5
1.4
7.9
-21.7
22.5
398.8
15.8
74.8
49.2
182.4
20.3
9.4
26.4
-2.7
-28.1
-12.5
-5.0
-5.9
-74.1
-123.1
7.2
-57.6
221.0
4.6
5.0
2.8
-1.7
5.8
8.4
3.5
J8.4
-10.0
16.5
17.0
21.1
11.8
8.4
-30.7
56.2
26.6
10.3
11.5
10.7
-3.6
7.9
83.9
-67.3
234.8
21.3
33.3
10.6
28.3
transactions differ from those reflected in Table 1 because they
exclude those Government investment accounts for which Inveatments
are not bandied by the Treasiiry. Table 2 alao incliides purchases
under Section 19 of the Second Liberty Bond Act, as annd«d (31 U.S.C.
754a), and excludes the Exchange Stabilization Fund,
less than $50,000.
June i960
1^7
.
Table 3.
OWNIRSHIP OF FHJERAL SBCDRITIES
,
Estimated Ownership of Federal Securities
(Par values 1/ in billions of dollars)
Held by private nonbank investors
outstanding 2/
banks
Federal
Reserve
Banks
Individuals
Government
investment
accounts /^/
_5/
Insurance Mutual
companie savings
banks
State and
Corporations 6/
2/
193 9^ December
.4
19iO- June
December.
. .
19il-June
December,
21.8
23.7
19.7
. .
a.4
2.3
26.0
41.1
2.6
. .
28.7
i7.3
6.2
12.2
59.4
71.5
7.2
11.5
14.3
83.3
96.5
52.2
59.9
68.4
77.7
U.9
84.2
90.8
21.8
278.
106.0
115.0
116.7
108.2
97.9
93.8
84.4
74.5
70.0
19i2-June
December.
1943-June
December.
16.1
17.3
112.:
UO.I
170.:
. .
19U-Jun6
202.1
December..
19i5-June
December.
232.:
,
259.:
..
1946-February 2/December.
. .
279.
269.
259.
1947-June
December.
. .
258..
257.1
1948-June
December..
1949^June
December.
91.9
91.3
.
. .
.
1951-June
December.
.
.
1952-June
December..
195i-June
December.
. .
1955-Juiie
4.9
10.1
16.9
67.0
81.7
30.9
37.6
19.2
24.7
11.7
12.9
13.1
15.1
12.9
16.4
19.1
21.7
100.2
114.0
46.1
U.9
53.3
31.2
36.2
17.1
17.3
19.6
24.3
24.9
27.0
128.2
136.6
59.1
64.1
40.7
42.9
18.5
21.2
22.7
24.0
9.6
10.7
22.9
23.8
28.0
29.1
30.9
32.8
34.4
64.1
63.3
64.2
66.6
43.3
43.5
44.2
20.8
19.9
20.1
24.4
24.9
24.9
11.1
11.5
11.8
19.9
17.8
23.3
135.1
132.6
130.7
45.5
a.i
24.6
46.2
19.4
3.9
12.1
12.0
13.7
65.7
47.1
47.8
18.6
17.6
22.8
21.2
12.0
11.5
13.6
14.8
18.8
21.9
22.6
23.3
35.8
37.3
18.9
257..
83.9
82.6
65.6
61.8
18.3
20.8
39.4
37.8
39.2
41.0
61.1
63.4
22.9
24.7
83.6
89.6
58.8
63.7
278.1
88.7
94.1
63.6
69.2
25.0
24.9
274..
87.1
63.5
62.0
3.6
..
. .
.
i
275.1
79.2
83.7
57.3
59.5
24.8
23.8
24.9
56.2
59.5
23.0
24.2
283.
67.5
285.
285.
68.2
25.7
66.3
June
.
.
.
291..
290.'
290.'
.
.
291.:
290.'
...
237.1
45.9
66.6
66.3
48.8
49.3
17.8
17.0
20.5
20.1
11.6
11.4
135.6
134.9
67.4
66.3
17.6
16.7
19.8
18.7
11.6
10.9
132.9
131.8
65.4
64.6
49.9
49.6
49.1
49.1
130.8
133.4
64.8
65.2
49.0
49.2
66.1
64.8
49.3
49.4
136.7
142.3
138.3
138.2
65.0
65.0
66.6
65.7
50.2
50.2
14.8
14.8
50.3
50.1
16.3
15.6
55.6
55.2
135.9
136.1
65.6
63.7
49.1
48.2
16.5
15.5
138.4
139.9
139.7
63.1
63.9
64.7
47.7
47.6
47.5
15.4
25.3
25.5
53.5
53.6
53.7
47.3
17.7
18.0
64.7
63.2
25.7
25.9
26.0
53.1
54.2
54.6
142.0
143.1
65.0
65.2
61.3
U2.8
65.3
88.4
87.5
86.5
61.8
60.8
60.0
26.5
26.7
26.6
54.1
54.6
54.2
U6.3
65.7
66.1
66.7
46.9
148.4
147.6
87.1
85.9
86.4
60.4
59.0
59.8
26.6
26.9
26.6
53.6
53.8
53.7
150.7
151.0
150.8
84.0
81.8
79.7
58.6
56.6
54.4
25.5
25.2
25.3
53.2
53.2
53.7
154.0
155.7
153.6
47.2
47.0
22.2
15.3
6.7
6.5
6.3
U.l
7.9
8.0
18.8
19.9
16.8
15.4
53.5
54.0
90.4
89.2
87.4
a.4
3.3
16.3
15.5
64.7
63.4
50.5
51.7
20.2
132.2
132.1
133.3
135.1
Source;
Debt Analysis Staff in the Office of the Se
1/ United States savings bonds. Series A-F and J, a
current redemption value.
ovemment, excluding
2/ Securities issued or guaranteeo by the U. S. Gov.
guaranteed securities held by the Treasury. For
or amounts subject to
statutory debt limitation, see page 1.
Consists of commercial banks, trust companie
and stock savings
banks in the United States and in Territorie and Island possessions. Figures exclude securitie held in trust departments.
Included under "Miscellaneous
A/ Holdings by Federal land banks
estors" instead of "U. S. Government investment accounts" after
June 26, 1947, when the proprietary interest of the United States
in these banks ended.
Includes partnerships and personal trust accounts. Nonprofit
^
3.6
5.4
18.6
16.0
15.9
15.0
14.6
13.6
a.
16.6
19.2
13.9
14.4
8.7
8.5
18.8
U.7
3.5
8.4
17.7
19.1
15.1
15.7
16.1
15.3
19.6
16.9
16.7
13.0
12.8
12.6
21.3
a.6
a.o
17.0
16.9
16.8
12.6
12.6
12.5
22.4
22.9
21.5
16.9
16.8
16.7
23.4
24.4
22.9
17.0
17.2
4«.0
47.7
65.3
63.2
U.3
133.7
131.3
47.6
276..
April
May
1960-January
February.
March p
9.2
11.3
19.3
.
1959-Jannary
February
March
October
November.
December.
8.7
10.3
38.3
270.
July
August
September.
2.0
4.0
9.1
13.4
63.0
66.8
December.
1956-June
December....
1958-June
December.
8.2
17.8
23.7
42.3
. .
.
8.2
37.7
53.0
82.4
85.7
..
2.0
2.8
25.0
31.0
252.
257.
256.
1953-June
December.
.
2.6
a.4
85.9
85.8
1950-June
December..
1957-June
December.
local
governments 7/
16.3
17.2
18.3
46.
18.8
19.4
46.5
20.2
12.6
12.7
12.6
7.3
7.3
67.9
68.1
68.8
46.3
46.2
45.9
21.6
21.9
22.9
12.6
12.5
12.3
7.0
6.9
6.9
24.1
24.2
17.4
17.4
3.5
17.5
69.5
69.6
70.3
45.8
45.8
45.7
23.7
23.9
24.6
12.5
12.4
12.2
6.9
6.9
6.9
25.5
26.6
24.0
17.6
17.7
17.8
6/
2/
8/
^
p
17.3
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 and island possessions.
Includes savings and loan associations , nonprofit institutions, corporate
pension trust funds, dealers and brokers, and investments of foreign
balances and international accounts in this country. Beginning
December 1946, includes investments by the International Bank for Iwconstructlon and Development and the International Monetary Fund in
special nonlnterest-bearing notes issued by the U. S. Government.
Immediate postwar debt peak.
Preliminary.
Treasury Bulletin
kS
.TREASURY SUTRTEI OF CWNEESHIP, MARCH 31, I960.
Distribution of ownership by types of banks and insur-
The Treasury Survey of Ownership covers securities
Issued by the United States Government and by Federal
agencies. The banks and Insurance companies Included In
the Survey account for approximately 95 percent of such
securities held by all banks and Insurance companies In
bank classes and nonraeraber banks are published for June JO
Holdings by corporate pension trust funds
and December 3I.
Data were first published for Karch
are published quarterly and first appeared In the March
the United States.
31,
19'tl,
In the May 191+1 "Treasury Bulletin".
Section
I
ance companies Is published each month. Holdings by coramer-
clal banks distributed according to Federal Reserve member-
1954 Bulletin for quarters beginning December
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
3I,
191+9.
June i960
1^9
.TREASDEY
SDWEY OF OWNEBSHIP, MARCH
31, I960.
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest -Bearing Public Marketable Securities by Issues
Treasury Bulletin
50
.TREASURY
SDWEI OF CWNERSHIP, MARCH
31, I960,
Section I - Securltes Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par values - in millions of dollars)
June I960
51
.TREASURJ
Section
II -
SmWEI OF CWNERSHIP, MARCH
31, I960.
Interest-Bearing Securities Issued by Federal Agencies But
Not Guaranteed by the United States Governinent
(Par values - in millions of dollars)
)
Treasury Bulletin
52
.MWRKET QUOTATIONS ON TREASURI SECURITIES, APRIL 29, 1%0.
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
for the last trading day of the month, as reported to
Government except Panama Canal bonds. Outstanding
Issues which are guaranteed by the United States
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 (Taxable)
Bank discount
Maturity
date
Bank discount
Amount
outstanding
(millions)
Regular weekly bills - 26 weeks
Regular weekly blllB - 13 and 26 weeks
$1<000
»400
1,205
1,200
1,204
400
1,101
1,200
1,200
1,200
1,100
401
500
500
500
500
1,101
1,100
1,000
1,001
400
400
400
400
400
396
400
401
$400
400
400
400
400
3/3/60
3/10/60
3/17/60
3/24/60
3/31/60
9/1/60
9/8/60
9/15/6O
9/22/6O
9/29/60
2.90
2.95
500
500
4/7/60
4/U/6O
2.97
3.02
3.02
400
400
4/21/6O
4/28/60
10/6/60
10/13/60
10/20/60
10/27/60
3.40*
2/4/60
2/11/60
2/18/60
2/25/60
11/5/59
11/12/59
11/19/59
11/27/59
3/3/60
3/10/60
12/3/59
12/10/59
12/17/59
12/24/59
12/31/59
6/2/60
6/9/60
6/16/60
6/23/60
6/30/60
1/7/60
1/14/60
1/21/60
1/28/60
7/7/60
7/14/60
7/21/60
7/28/60
3.04
3.04
3.04
3.04
2/4/60
2/11/60
2/18/60
2/25/60
8/4/60
8/11/60
8/18/60
8/25/60
3.10
3.10
3.10
3.15
3A7/60
3/24/60
3/31/60
4/7/60
4/U/6O
4/ZI/6O
4/28/6O
5/5/60
5A2/6O
2.95
5/19/60
5/26/60
3.00
2.95
2,016
10/21/59 \
I/8/60J
6/22/60
Other bills
7/15/59
12/2/59
1/15/60
4/15/60
»2,001
2,007
1,504
7/15/60
10/17/60
1/15/61
4/15/61
Table 2.- Certificates of Indebtedness (Taxable)
(Price decimals are 32nds)
Amount
outstanding
Change from
last month
(mllliona
4*
4-3/4
4-7/8
5/15/60-B
ll/15/60-C
2/15/61-A
5A5/59
11/15/59
2/15/60
100. OlJ-
-.02^
100.17
100.18
-.03
-.12
Table 3.- Treasury Notes (Taxable)
(Price decimals are 32nds)
Amount
3.42
3.42
3.42
3.42
anticipation bills
»2,002
2,001
»1.269
7,037
6,938
3.15*
3.15
3.15
3.25
3.25
2.53*
3.73
4.13
3.04*
3.42
-.15*
-.15
June I960
53
.MdEKET QUOTATIONS ON TREASURY SECURITIES, APRIL 29, I960.
Table 4.- Taxable Treasury Bonds
(Price decimals are 32ndo)
5^
Treasury Bulletin
.MfLRKET QUOTATIONS ON TREASURY SECURITIES,
liJ
o
OJ
a:
a.
<
tn
UJ
a:
^
UJ
CO
o
^
o
2o
DC o.
^
E
(f)
u>
UJ S
_i c
'O
CD
<
X
o
UJ
>-
APRIL 29, 1960,
Jane I960
.AVEEAJE YIELDS OF I0NG-TE2W BONDS.
Table
I
I.
Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Periods
(Percent per annum)
Treasury
bonds 1/
Moody's Aaa
corporate
bonds
Treasury
bonds 1/
Moody's Aaa
corporate
Treasury
bonds 1/
Annual series - calendar year averages of monthly series
1942
19i3
19U
1945
1946
1947
2.46
2.47
2.48
2.37
2.19
2.25
2.83
2.73
2.72
2.62
2.53
2j6l
2.97 2/
3.11
3.13
3.23
3.34
2.U
2.82
2.66
2.62
2.31
2.32
2.57
2.68
1949.
1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
Monthly series - averages of daily series
1953-ApTll
May
June
July
August ...
September
October.
November
December.
2.83
1954- January.
February.
March. . .
2.69
2.62
April
3.40
1955-October..
November.
December.
3.28
3.24
3.29
1956-January .
February.
March. . .
2.53
3.06
2.95
2.86
October. .
November
December.
3.20
3.30
3.40
3.59
3.69
3.75
March
April
May
June
1957-Jsnuary. .
February.
3.34
3.22
3.26
3.77
3.67
3.66
July
August.
September.
4.11
4.10
4.26
3.32
3.40
3.58 2/
3.67
3.74
3.91
October. .
November.
December..
4.112/
3.60
3.99
4.10
4.12
2.47
2.48
2.52
October.
November
December.
2.5-7
April.
May.
2.59 2/
June.
March
April
May
June
July
August.
September
.
March
.
2.68 2/
2.78
2.78 2/
2.99
3.02
July
August
September.
2.82
2.81
2.82
3.01
3.04
3.05
October.
November
December.
2.91
2.95
2.92
3.06
3.11
3.13
.
.
1958-January.
February
March
.
.
3.63
3.66
2/2/
3.57 2/
3.30 2/
4.10
4.08
3.81
3.24 2/
3.28
3.60
3.59
3.25
3.63
3.73
1959-January...
February.
3.91 2/
3.92
3.92
4.01
4.08
4.09
.
.
1960-Januaxy. .
February.
March
Weekly series - averages of daily series for weeks ending -
1959-Rovember
3.76
3.70
3.80
3.28
3.43
3.56
.
2.93
October. .
November.
December.
3.21
July
August. .
September
1955-January.
February
3.36
3.60
3.75
3.00
3.17
.
2.48
2.54
2.55 2/
2.54
3.24
3.28
3.27
2.93
July
August
September.
July
August. .
September.
June
May
3.U
3.20 2/
2.85
2.93 2/
3.07
2.97
April.
May. .
June.
2.86
2.79 2/
3.12
1958-April.
May...
4.12
4.27
4.37
4.22
4.08
4.18 2/
56
,
AVHIAGE YIELDS OF LONG-TTBM BONDS.
June I960
57
.niTHlNAL RiVENDE COLLECTIONS.
Table I.- Summary by Principal Sources
(In thousands of dollars)
Budget
Adjustment of
receipts from collections
internal
to budget
receipts X/
1954
1955
1956
65,634,894
70,170,974
70,299,652
66,288,692
75,109,083
1957
1958
1959
80,171,971
79,978,476
79,797,973
1952
1953
1959-July
+625,308
+484,439
+364,672
-3 ,566
5/
Individual income tax and employment ta
Total collections reported
by Internal
Revenue Service
Old-age and
disability
insurance 2/
Railroad
retire-
33,738,370
37,254,619
11,345,060
11,403,942
10,736,578
10,396,480
11 ,3 a, 966
17,929,047
a, 132, 275
22,077,113
3,584,025
3,816,252
a, 253 ,625
5,339,573 4/
6,336,805
620,622
628,969
605, 2a
600,106 4/
634,323
283,882
279,986
324,656
26,727,543
27,040,911
29,001,375
6,634,467
7,733,223
8,004,355
616,020
575,282
525,369
330,034
335,880
324,020
2/
65,009,586
69,686,535
69,934,980
66,288,692 i/
75,112,649 2/
18,264,720
21,298,522
37,869,770
42,633,426
80,171,971
79,978,476
79,797,973
21,530,653
20,533,316
18,091,509
46,610,293
49,588,488
12,302,229
11,527,648
11,733,369
568, ai
21,466,910
21,594,515
a, 546 ,3 22 37,9a ,314
47,a2,944
3,605,629
7,159,670
9,229,078
3 ,605
Sept
7,159.
9,229,
368,049
3,311,154
1,934,472
5,667,250
4,804,280
Oct.
3
,319,057
6,852,251
7,585,525
3,319.
Dec.
7,585;
491,069
404,741
3,179,510
1,745,608
5,408,614
3,260,691
1960-Jan.
Feb.
Mar.
4,807,819
8,902,263
11,893,553
4,807,
8,902
11,893
564 ,U8
482,804
6,192,480
3,3U,308
7,329,U9
Aug.
Individual
income tax
withheld 2/
vrtthheld
6,852
4,480,742
V
24,015,676
1/
4,a8,520
Unemployinstu-ance
259,616
273 ,182
363,807
1,549,816
123 ,154
5,457,9a
1,836,774
2,915,081
20,148
85,432
51,849
259,817
98,596
362,104
1,467,005
5,226,987
2,846,908
16,448
82,366
51,111
2,337
664
567
2,U7,554
1,154, UO
6,077,914
3,558,391
16,153
84,457
49,942
26,461
283,183
20,774
883,894
851,635
Treasury Bulletin
58
.INTERNAL REVENUE COLLECTIONS.
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
June
mo
59
.IMTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Excise Tax Collections
(In thousands of dollars]
First three quarters
of fiscal year
Third quarter of
fiscal year
1959
(Jan. -Mar. 1959)
I960
(Jan. -Mar. 1960)
Alcohol tajces! l/
Distilled spirits
Wines
Beer
2,092,183
91,617
762,660
2,137,U9
Total alcohol taxes
2,946 ,i6l
3,002,096
47,247
1,668,208
18,566
1,738,050
17,665
92,442
772,505
1,627,070
69,364
558,619
1,704,235
75,549
580,725
476,803
21,747
156,749
464,828
27,096
165,725
657,649
2,360,508
Tobacco taxes: 1/
Cigars
Cigarettes
Other
51 ,101
37,112
1,326,572
36,912
1,375,118
13 ,755
13,oa
91,187
5,652
99,502
5,899
10,702
431,215
4,482
10,969
425,808
4,U3
1,806,816
Total tobacco taxes
Documentary and certain other stamp taxes:
Documentary stamp taxes 2/
Playing cards
Silver bullion sales or transfers
126,225
7,558
33,534
2,178
26
Total documentary and certain other stamp taxes
35,716
96,866
Manufacturers' excise taxes:
Gasoline X/
Lubricating oil, etc
Tires, tubes, and tread rubber^
Passenger automobiles, chassis, bodies, etc
Trucks and buses, chassis, bodies, etc. 2/
Parts and accessories for automobiles, trucks, etc
Radio and television sets, phonographs, components, etc
Eefrigerators, freezers, air-conditioners, etc
Electric, gas, and oil appliances
Pistols and revolvers
Phonograph records
Musical instruments
Sporting goods (other than fishing rods, creels, etc.).
Fishing rods, creels, etc
Business and store machines
Cameras, lenses, film, and projectors
Electric light bulbs and tubes
Firearms (other than pistols and revolvers), shells
and cartridges
Mechanical pencils, pens, and lighters
Matches
1,636,629
69,996
259,820
1,170,003
206,104
166,720
146,422
39,379
61,400
1,568
18,282
1,700,253
73,685
278,911
1,039,272
U,635
U,590
11,255
4,995
90,658
22,546
24,936
11 ,675
14,617
9,060
5,111
a5,279
166,234
152,566
40,593
62,373
2,028
20,540
5,589
93 ,894
1,312,508
55,866
203,212
669,980
146,276
124,206
113,573
29,281
46,653
1,602
15,030
10,917
8,581
3,911
72,037
'
13 ,634
10,497
3,798
74,587
22,291
24,288
29,401
20,533
a, 646
23,563
13,909
8,444
5,262
11,906
6,555
3,850
13 ,578
Total manufacturers' excise taxes
Retailers
1,497,076
59,621
225,491
899,817
192,891
143,342
129,066
35,286
51,758
1,466
17,542
7,523
3,939
422,979
17,499
68,700
320,800
57,773
42,858
45,132
9,255
17,482
441
6,208
4,700
561,954
17,402
66,978
284,889
55,026
47,368
52,196
9,038
17,337
513
6,804
5,461
3,a4
2,600
1,205
24,878
8,020
8,762
1,069
26,825
8,319
8,979
3,091
2,201
1,227
3,179
2,897
1,227
1,180,675
3,426,765
excise taxes
Furs
Jewelry, etc
Luggage , etc
Toilet preparations
28,544
156,134
58,785
98,158
29,909
156,382
107,968
125,061
47,529
83,796
Total retailers' excise taxes
341,621
355,728
279,189
Footnotes at end of table.
61 ,468
22,803
(Continued on following page)
51,420
93,335
13,347
59,043
a, 218
34,756
13,588
63,801
23,205
38,700
301,135
128,364
139,294
23,263
133 ,116
Treasury Bulletin
60
.INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Excise Tax Collections
-
(Continued)
(in thousands of dollars)
First three quarte
of fiscal year
Third quarte
fiscal year
1959
(Jan. -Mar. 1959)
Miscellaneous excise taxes:
Admissions to theaters, concerts, etc
Admissions to cabarets, roof gardens, etc
Club dues and initiation fees
Long-distance telephone, telegraph, cable, radio, etc
leased wires, wire and equipment service
Local telephone service
Transportation of oil by pipeline
Transportation of persons
Transportation of property (including coal)
Use of safe deposit boxes
Coconut and other vegetable oils processed I^/
Sugar
Diesel and special motor fuels 2/
Narcotics and marihuana, including occupational taxes
Coin-operated amusement devices
Coin-operated gaming devices
Bowling alleys, pool tables, etc
Wagering occupational tax
Wagers
Use tax on highway motor vehicles weighing over
26,000 pounds 2/
Adulterated and process or renovated butter, filled
cheese and imported oleomargarine
Firearms transfer and occupational taxes
Other receipts
^
,
Total miscellaneous excise taxes
Total received with returns and from sale of stamps....
Undistributed depositary receipts 6/
Unapplied collections
Total excise taxes
42,919
60,338
49,977
45,117
64,813
279,375
370,810
398,03
54,683
35,U3
225,809
462,989
6,137
9,383
85,911
46,061
1,038
5,780
11,733
3,139
628
6,311
33,117
292,412
7,962
227,044
143,250
6,142
1,689
86,378
52,528
969
5,888
11,006
3,403
566
6,221
32,532
42,026
1960
(Jan. -Mar. I960)
June
mo
61
.MDHETAEY STATISTICS
Table I.- Money In Circulation
(in millions of dollars except per capita flgureB)
End of fiscal
year or month
Total
money In
circulation i/
Total
paper
money
Gold
certificates
Silver
certificates
1952
1953
1954
1955
1956
29,026
30,125
29,922
30,229
30,715
27,348
28,359
28,127
28,372
28,767
2,088
2,122
2,135
2,170
1957
1958
1959
31,082
31,172
29,040
29,071
29,699
2,162
2,200
2,155
31, 9U
1958-Deoember.
1959-JiiJy
2,U8
Treasxiry
notes of
1890
2/
Federal
Reserve
Bank
notes 2/
United
States
notes
318
318
320
319
318
24,605
25,609
25,385
25,618
26,055
221
26,329
26,342
27,029
30,012
27,318
31,898
31,973
31,848
29,674
29,732
29,589
2,126
2,126
2,126
316
315
27,037
27,093
26,952
31,905
32,489
32,591 4/
29,636
30,195
30,287
2,112
2,116
2,135
316
319
312
27,013
27,566
27,647
31,569
31,552
31,633
29,301
29,277
29,340
2,008
2,017
2,054
302
308
March
310
26,799
26,761
26,786
102
Ipril
31,600
29,289
2,093
312
26,695
102
August...
September.
October.
.
Novettber.
December..
1960-January. .
Februaiy.
106
106
105
National
bank
notes 2/
.
35
7
..,
Treasury Bulletin
62
.MOKETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts in millions)
Silver
8l.29f- per
fine ounce)
Gold
End of fiscal
year or month
($35 per
1952
1953
195i
1955
1956
Ratio of silver
to gold and
silver in
monetary stocks
(in percent)
23,346.5
22,462.8
a, 927.0
ZL.bTJ.b
21,799.1
3,768.5
13.9
3,8U.3
U.5
3,863.1
3,922.4
3,994.5
15.0
22,622.9
15.4
16.8
18.3
15.3
15.5
a,356.2
4,116.6
4,306.0
19,704.6
4,4U.l
1958-December,
20,534.3
4,362.5
1959-July
August . .
Septembei
19,625.9
19,523.8
19,490.7
4,412.7
4,408.7
4,402.3
18.4
18.4
18.4
October.
November.
December.
19,585.2
19,565.8
19,455.9
4,395.0
4,387.7
4,382.7
18.3
18.3
1960-JanuaTy..
Vebruazy.
March...
19,U3.6
4,379.4
4,376.4
4,375.6
18.4
18.4
18.4
1957
1958
1959
19,420.5
19,407.8
ifarU....
18.5
19,359.6
Source: Circulation Statement of United States Money.
silver monetary stock see Table 4.
18.4
For detail of
See Table 3, footnote 2.
1/
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollars)
Uabllities:
Gold assets
End of calendar yea
1952
1954
1955
1956
23,187.1
22,029.5
21,712.5
21,690.4
21,949.5
1957
1958
1959
22,781.0
20,534.3
19,455.9
1953
1959-July
August .
Gold certificates,
etc. 1/
22,178.8
a, 545.
a, 223.
a, 458.
483.7
489.0
491.2
491.2
22,272.9
20,138.2
19,350.5
508.1
396.1
105.4
a,i99.i
2/
jeptember.
19,625.9
19,523.8
19,490.7
19,520.0
19,413.8
19,389.9
105.8
109.9
100.8
October...
November.
December.
19,585.2
19,565.8
19,455.9
19,476.7
19,464.2
19,350.5
108.5
101.6
105.4
1960- January. .
February.
March. ...
19,443.6
19,420.5
19,407.8
19,3U.2
19,320.6
19,299.2
102.4
99.9
108.6
April....
19,359.6
19,253.0
106.6
. .
.
Source: Circulation Statement of United States Money.
1/ Comprises (l) gold certificates held by the public
Reserve Banks; (2) gold certificate credits in (a)
fund - Board of Governors, Federal Reserve System,
tion fund - Federal Reserve notes; and (3) reserve
and in Federal
the gold certificate
and (b) the redempof $156.0 million
against United States notes and Treasury notes of 1890.
The United States payment of the $343.8 million increase
its gold subscription to the International Monetary Fund,
authorized by Public lav 86-48, approved June 17, 1959, w
made oa June 23 , 1959 (see "Budget Receipts and Expenditu
Table 3, footnote 10).
June I960
63
,
MONEEARI STATISTICS
Table 4.- Component b of Sliver Monetary Stock
*
(In millions of dollars)
Silver held in Trsaauy
End of calendar
year or month
Subsidiary
coin 2/
1952
2,109.7
1953
2,U0.8
1954
1955
1956
2,171.1
2,194.4
2,208.9
-
289.3
278.3
267.6
253.5
236.3
Silver outside
Treasury
In Treasurer's account
Securing silver certificates i/
Silver
dollars i/
Bullion for
recoinage i/
3.9
6.3
48.0
15.7
at $1.29+
per fine
235.4
252.2
1,158.1
1,213.1
1,242.7
1,283.2
1,338.2
3,794.1
3,837.0
3,886.6
3,930.1
4,064.1
305.5
1,402.6
1,446.2
1,513.4
4,185.4
4,362.5
4,382.7
45.3
30.7
11.0
17.6
62.9
Subsidiary
coin 2/
Total
silver
23.1
1957
1958
1959
2,a2.9
219.0
202.7
182.3
8.2
92.3
2,245.0
2,251.4
U.9
U8.3
3.2
127.4
1959-July
August...
September
2,251.4
2,251.4
2,251.4
191.7
189.6
187.6
13.8
5.9
6.6
153.7
151.5
296.2
U6.1
300.2
1,483.3
1,491.3
1,494.3
4,412.7
4,408.7
4,402.3
October.
November.
December.
2,251.4
2,251.4
2,251.4
187.1
184.4
182.3
138.2
132.0
127.4
300.8
303.5
305.5
1,499.1
1,508.9
1,513.4
4,395.0
4,387.7
4,382.7
1960-January..
February.
March
2,251.4
2,251.4
2,251.4
182.0
181.6
180.1
176.2
1Z1.5
115.0
109.2
116.0
305.8
306.2
307.7
1,513.6
1,520.5
4,379.4
4,376.4
4,375.6
311.6
1,532.0
4,390.2
April
2,251.4
11.1
19.2
3.9
14.8
Source: Circulation Statement of United States Monayi Office of the
Treasurer of the United States.
Valued at Jl.29*ip»r fine ounce.
Includes silver held by certain agencies of the Federal Govenment.
Valued at tl.39+ per fine ounce.
1/
2/
2/
V
•
298.3
1,5U.8
Valued at |1.38f per fine ounce or at $1.29+ per fine ounce
according to whether the bullion is held for recoinage of subsidiary
silver coins or for recoinage of standard silver dollars.
lass than t50,000.
.
Treasury Bulletin
6k
MONETARY STATISTICS
Table 5.- Seigniorage
(Cumulative from January 1, 1935 - in millions of dollars)
Sources of seigniorage on silver bullion revalued l/
Newly rained silver
End of
year or
Misc. silver
(incl. silver
bullion held
June U, 193i)
Silver Pui^
chase Act
of June 19,
193i
Nationalized
silver
226.2
34.5
34.7
34.7
(Proc. of
Aug. 9, 193i)
Proclamation
of Dec. 21,
1933
Acts of
July 6, 1939,
and July 31, 19i6
Total
seigniorage
on silver
revalued
Potential
seigniorage
ilver bulli
at cost in
Treasurer's
count 2/
4.2
326.2
422.1
508.1
616.0
705.6
274.9
397.5
541.6
758.8
950.6
25.7
48.3
63.6
65.3
65.4
759.4
799.7
818.9
820.6
820.7
1,048.2
967.3
717.3
34.7
34.7
34.7
34.7
34.7
65.5
66.5
74.5
84.6
93.5
938.1
1,069.6
1,077.6
1,087.8
1,098.1
333.2
161.2
146.8
129.9
127.2
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
104.7
114.6
125.4
134.7
111.7
81.9
57.2
34.9
6.6
150.8
155.2
156.4
166.0
167.9
1,109.3
1,119.2
1,130.0
1,139.3
1,148.4
1,155.4
1,159.8
1,161.0
1,170.6
1,172.5
958.5 2/
961.7
965.6
48.7
48.7
48.7
833.7
833.7
833.7
34.7
34.7
34.7
167.9 2/
167.9
167.9
1,172.5 2/
1,172.5
1,172.5
119.4
118.1
115.1
October
November
December
971.9
977.0
981.6
48.7
48.7
48.7
833.7
833.7
833.7
34.7
34.7
34.7
167.9
167.9
167.9
1,172.5
1,172.5
1,172.5
1960-January
February
March
986.0
991.0
997.5
48.7
48.7
48.7
833.7
833.7
833.7
34.7
34.7
34-7
167.9
167.9
167.9
1,172.5
1,172.5
1,172.5
1935
1936
1937
1938
1939
18.5
i6.1
63.7
69.5
91.7
48.7
i8.7
i8.7
i8.7
i8.7
302.7
366.7
457.7
530.7
34.7
34.7
19iO
1943
1944
122.2
182.1
245.7
299.6
362.3
i8.7
48.7
48.7
48.7
48.7
562.7
580.4
584.3
584.3
584.3
34.7
34.7
34.7
34.7
34.7
1945
1946
1947
1948
1949
429.5
491.9
520.5
559.2
578.7
48.7
48.7
48.7
48.7
4«.7
701.6
832.1
832.1
832.2
833.6
1950
1951
1952
596.6
642.3
694.2
742.2
792.9
807.0
839.6
890.3
932.0
981.6
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
19U
1942
1953
1954
1955
1956
1957
1958
1959
1959-July
August
September
Source: Bureau of Accounts.
1/ These items represent the difference between the cost value and
the monetary value of silver bullion revalued and held to secure
silver certificates.
2/ The figures in this column are not cumxilative ; as the amount of
2/
U3.8
14.3
50.0
72.9
lU.O
98.3
bullion held changes, the potential seigniorage thereon changes.
Total of seigniorage on coins and on newly mined silver, beginning with
that for July 1959, is included under coins; the breakdown is not available
after June 1959.
June I960
65
,
Table
1.-
NATIONAL BANK KEPOKTS
Earnings, Expenses, and Dividends for Calendar Years 1955 through 1959
(Dollar amounta in thousands)
Treasury Bulletin
66
•
CAPITAL MOVEMENTS.
Data relating to capital movements between the
United States and foreign countries have been collected
since 1935, pursuant to Executive Order 656O of January 15,
193't, Executive Order IOO33 of February S, 19^9, and
Treasury regulatlone promulgated thereunder. Information
covering the principal types of data and the principal
countries Is reported monthly, and Is published regularly
Supplementary Information Is
published at lees frequent Intervals. Reports by banks,
bankers, securities brokers and dealers, and Industrial
and commercial concerns In the United States are made
In the "Treasury Bulletin."
Initially to the Federal Reserve Banks, which forward
consolidated figures to the Treasury. Beginning April
I95U, data reported by banks in the Territories and
possessions of the United States are Included In the
published will be exactly comparable to those now presented,
The first three sections which follow are published
They provide summaries, by periods and by
countries, of data on short-term banking liabilities to
monthly.
and claims on foreigners and transactions In long-term
securities by foreigners, and present detailed breakdowns
of the latest available preliminary data.
Section IV provides supplementary data In six tables
which appear at less frequent Intervals. Table 1, shortterm foreign liabilities and claims reported by nonflnanclal concerns. Is published quarterly In the January,
and October Issues of the Bulletin.
Table
2,
long-term foreign liabilities and claims reported
by
April, July,
estimated gold reserves
and dollar holdings of foreign countries and International
Institutions, are published quarterly In the March, June,
Table 4, foreign credit
September, and December Issues.
published data.
banks and bankers, and Table
The term "foreigner" as used In these reports covers
all institutions and Individuals domiciled outside the
United States and Its Territories and possessions, the
and debit balances In brokerage accounts,
official Institutions of foreign countries, wherever
such institutions may be located, and International
"Short-term" refers to original maturiorganizations.
ties of one year or less, and "long-term" refers to all
other maturities. A detailed discussion of the reporting
coverage, statistical presentation, and definitions
appeared In the June 195'4- Issue of the "Treasury Bulletin,"
As a result of changes In presentation
pages ^^-^7.
Introduced In that Issue, not all breakdowns previously
3,
appears semi-
annually In the March and September Issues. Table 5,
short-term liabilities to foreigners In countries and
areas not regularly reported separately by banking Institutions, Is presented annually, appearing In the April
Issue through 195S and In the March Issue thereafter.
Table
6,
purchases and sales of long-term securities by
foreigners during the preceding calendar year, also
appears annually, beginning with the May 1959 Issue.
Section I - Summary by Periods
Table 1.- Net Capital Movement Between the United States and Foreign Countries
(In millions of dollars; negative figures indicate a net outflow of capital from the United States)
June I960
67
.CAPITAL MOVIMENTS.
Section I - Summary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(Position at end of period in millions of dollars)
Short-term liabilities to foreigne
Short-term cla
Payable in dollars
Other
foreign
948.9
1,018.7
827.9
292.9
361.2
222.7
151.1
177.2
490.6
557.1
494.3
48.8
1,048.7
904.5
1,386.5
1,548.5
1,945.7
122.9
156.5
206.5
328.1
405.4
847.5
646.5
969.0
1,056.5
1,390.8
2,199.4
2,542.0
2,635.0
385.5
439.4
486.6
1,666.5
1,904.9
1,913.4
19A5
1946
1,947.1
2,036.7
2,Z39.9
2,678.2
2,922.0
473.7
1947
1948
1949
1950
1951
7,116.4
7,718.0
7,618.0
8,644.8
9,302.2
1,832.1
2,836.3
2,908.1
3,620.3
3,547.6
2,972.7
2,947.0
3,001.0
3,451.7
4,041.2
2,262.0
1,864.3
1,657.8
1,527.8
1,641.1
49.7
70.4
51.0
1952
10,546.1
11,648.4
12,918.6
13,600.7
4,245.6
4,308.4
4,335.4
4,726.5
5,392.8
61.4
43.7
43.2
1/
1,584.9
1,629.4
1,769.9
1,881.1
1,452.1
1/
1,517.3
19U
2,2U.4
U,939.1
4,654.2
5,666.9
6,770.1
6,952.8
8,045.4
1957
1958
1959
15,158.3
16,159.1
19,340. 9r
7,916.6
8,664.9
9,139.2
1959-July
August . .
Septembei
18,724.2
18,811.8
19,197.4
9,U1.5
1953
1954
1955
1956
October.
November.
December
1960-January.
Februajy
March PApril p
1/
1/
Other
U3.7
3,320.3
3,335.2
4,179.3
3,043.9
1943
Loans to
foreign banks
72.0
86.4
105.4
100.3
319.6
4,205.4
5,374.9
5,596.8
6,883.1
6,480.3
19i2
Payable
Payable
foreign
246.7
257.9
329.7
392.8
13.9
17.9
21.6
25.5
40.6
708.3
U.9
72.2
40.3
137.2
169.7
245.0
290.5
506.3
699.4
Payable in
foreign
currencies
30.9
34.4
54.6
47.5
98.1
165.4
100.4
110.8
240.6
91.8
78.4
101.6
211.0
163.9
U9.6
U7.3
6,966.4r
3,158.1
59.0
59.4
77.2
9,175.4
9,226.4
6,735.3
6,850.3
6,908.7
2,780.5
2,720.2
2,991.4
66.9
65.9
70.9
2,384.2
2,356.3
2,391.6
437.4
422.5
457.8
1,766.4
1,755.6
1,735.2
180.5
178.1
198.6
19,016.3
19,303.5
19,340. 9r
19,345. 6r
19,440.6
19,592.4
9,095.7
9,082.5
9,339.2
6,802.9
6,995.8
6,966.4r
3,049.3
3,159.8
3,158.1
68.4
65.4
77.2
2,395.9
2,481.9
2,635.0
432.5
483.7
486.6
1,737.3
226.1
1,785.9
1,913.4
a2.3
3,137.7
3,285.3
3.299.6
56.3
56.3
61.6
2,716.4
2,688.4
2,729.3
508.7
477.9
463.0
1,978.9
8,984.9
7,262.6r
7,229.9
7,246.3
2,000.3
2,050.8
228.8
210.3
215.5
19,793.9
9,188.3
7,309.6
3,33.4
62.5
2,721.6
486.6
2,012.1
222.9
1/
5,665.3
5,890.8
Beginning in August 1956 and again in April 1957, certa
previously classified as "Other foreign" are included i
n
l,5W.O
197.7
235.0
235.0
accounts
"Foreign offi
Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In millions of dollars; negative figures indicate a net outflow of
Purchases
1942
396.8 2/
164.2
1943
241.3
Sales
513.6
377.7
492.4 1/
138.5
170.6
268.2
393.4
4U.5
684.2
344.8
282.4
430.0
1,236.4
283.3
330.3
333.6
294.3
673.6
533.7
646.0
800.9
1,341.1
883.4
666.1
1,223.9
1,214.1
1,356.6
231.4
728.0
792.7
812.1
1,018.3
Septembe:
63.1
258.5
105.8
October.
November
December
1960-January
February
March p.
19U
1945
1946
1947
1948
1949
1950
,
,
1951
1952
1953
1954
1955
1956
195V
1958
1959
1959^July
August .
April p
1/
Z/
• •
apital from the United States)
Net pur-
and notes l/
1935-a
c
Corporate and other
U. S. Government bonds
Bonds 2/
Net
purchases
Net
purchases
-95.7 2/
25.7
70.7
245.3
-15.7
-269.7
61.5
-47.9
96.4
942.1
Z/
2/
2/
2/
2/
2/
2/
2/
^,
2/
%
Purchases
Sales
Net
purcha
Total
purchases
domestic
securities
626.7
46.6
27.8
430.2 2/
96.4
151.6
136.9
260.2
841.6 2/
75.5
194.6
171.4
357.7
-U1.4 2/
20.9
-43.0
-34.6
-97.4
9,322.1
260.6
392.9
650.4
637.9
8,695.3
Z14.0
367.6
226.1
369.7
354.1
666.9
432.1
376.7
-64.5
-150.6
-144.3
-21.2
2.9
782.1
570.9
652.2
784.1
2,011.1
1,116.3
659.9
619.5
649.2
533.9
980.2
1,433.7
1,363.5
1,163.8
1,453.6
1,861.5
120.3
1.0
55.2
135.0
127.5
256.0
142.6
-56.3
1,533.3
1,384.0
1,447.9
2,205.7
3,227.0
2,790.0
2,282.8
2,982.5
3,807.3
2,117.6
1,069.0
1,459.4
2,056.4
2,541.8
2,633.6
2,141.0
2,985.2
2,685.7
685.2
156.4
141.8
-2.7
1,121.6
292.4
448.9
283.1
229.6
170.2
173.1
62.8
278.7
110.0
5U.1
375.3
664.0
365.2
439.7
751.0
8U.4
708.9
1,066.6
ao.7
-113.1
-334.2
-89.1
-192.2
75.2
9U.4
107.7
108.3
-.5
120.0
200.1
212.8
289.7
324.7
287.1
310.2
361.4
368.8
141.6
188.5
197.4
283.6
296.0
251.8
258.9
344.0
296.2
-21.6
11.7
51.3
17.3
72.6
739.8
650.2
589.1
1,115.1
1,561.2
1,619.5
1,306.4
1,397.3
2,224.4
31.9
26.2
22.6
22.3
5.8
9.9
18.0
197.4
157.9
137.0
163.7
122.6
111.3
33.7
10.0
10.9
-3.9
155.3
196.8
224.8
125.7
29.7
48.3
57.8
353.2
400.2
346.4
228.0
273.4
255.4
125.2
126.8
91.0
205.4
127.6
-584.3
314.9
-11.5
718.3
-683.0
302.3
-82.0
8.2
529.0
-135.0
-52.1
1,187.6
528.0
36.3
686.1
39.7
25.0
39.5
23.3
233.5
66.3
162.6
166.4
92.1
77.0
98.8
55.0
85.6
67.5
37.2
35.3
25.3
•37.0
29.4
26.1
33.3
103.9
119.5
112.7
182.8
53.5
87.8
50.4
31.6
42.3
29.8
36.8
42.4
24.3
5.5
71.7
25.4
28.8
11.4
13.6
199.3
157.4
156.1
127.6
70.3
123.1
124.6
34.3
31.5
333.0
313.7
311.2
236.4
223.8
77.3
87.4
85.7
97.1
34.7
11.7
155.7
122.0
33.7
373.1
230.7
142.5
32.5
40.3
Through 1949, includes transactions in corporate bonds.
Through 1949, included with transactions in U. S. Government
bonds and notes.
15.3
6.1
28.7
35.3
2/
p
U8.5
167.1
362.9
35.3
25.7
January 4, 1940, through December 31, 1941; the breakdo
stocks and bonds is not available for earlier years,
Preliminary.
U9.3
.
2
.
Treasury Bulletin
•
CAPITAL MOTJMENTS.
Section I - Suiranary by Periods
Table 4.- PurchaBes and Sales of Long-Term Foreign Securities by Foreigners
(In milliona of dollaxs; negative figures indicate a net outflow of capital from the United States)
Foreign stocks
Foreign bonds
N*t
puTchae«a
Net
purchases
1935-il
1942
19U
U6.4
3U.3
1945
318.1
1946
1947
1948
1949
1950
755.9
658.7
211.6
1943
3a.
589.2
1951
1952
1953
1954
1955
1956
1957
1958
1959
500.4
495.3
542.5
792.4
693.3
606.5
699.0
889.0
945.6
1959-July
372.2
225.3
347.3
490.4
634.3
291.4
311.5
710.2
74.2
89.0
-29.2
265.5
24.5
-79.8
9.8
-121.0
65.2
57.1
81.7
88.8
173.8
1,392.0
1,915.1
1,457.6
-300.6
-182.1
-79.0
-4B.8
183.9
-385.0
-693.1
-1,026.1
-512.0
663.6
749.2
592.8
467.2
566.1
-102.1
47.5
801.0
677.4
621.5
841.3
509.4
991.5
272.3
293.9
310.1
393.3
60.5
27.1
156.5
162.6
Septeinbe;
October.
November,
December
52.1
53.3
95.4
75.4
92.8
144.6
-23.3
-39.5
-49.2
58.3
41.3
53.0
1960-January,
Februaiy
57.5
76.7
56.9
58.7
238.1
174.0
-1.2
-161.4
-117.1
41.1
42.4
Au^st
.
Maroh p.
April p.
Not available.
Preliminary.
U.4
27.3
208.3
44.0
55.5
19.8
22.1
54.8
65.6
42.6
96.7
70.8
198.2
348.7
329.6
303.4
544.9
377.9
875.2
621.9
-17.5
4,008.2
220.5
469.6
340.9
355.4
3,152.6
227.9
391.9
247.4
402.1
855.5
-7.4
77.7
93.5
-46.6
-.4
14.6
-15.0
18.0
-24.4
821.2
715.9
556.1
676.8
410.1
763.0
265.1
39.0
-94.8
27.8
51.4
63.1
45.0
36.4
U.2
293.3
908.4
-U5.4
772.7
789.1
852.7
1,185.8
1,356.9
1,355.7
1,291.8
1,356.2
1,511.7
1,U9.7
-377.0
1,007.0
924.9
1,486.1
1,387.3
1,866.8
2,014.0
2,718.8
2,261.5
-a7.9
108.0
71.5
200.6
a5.3
23.1
-10.1
-10.1
110.4
94.6
110.6
U8.3
207.7
10.6
113.0
117.8
99.2
103.6
274.5
-251.6
-2U.3
-126.1
-29.1
-336.4
-237.7
52.7
50.2
43.6
35.2
Net pxirchasi
of foreign
ecurltles
Total
purchases
4.6
77.5
251.9
U4.2
a8.2
-72.2
-300.4
-30.4
-511.1
-722.1
-1,362.5
-749.7
-107.3
-6.0
-51.3
-49.6
-59.3
9.4
-156.8
-119.0
Jane I960
69
.CAPITAL MOVIMENTS.
Section II - Sumnary by Countrlee
Table 1.- Short-Term Banking Llabllltlee to Foreigners
(Position St end of period in millions of dollare
Country
^
Treasury Bulletin
70
•
CAPITAL MOVEMENTS.
Section II - Suinmary by Countriee
Table 2.- Short-Term Banking Claims on Foreigners
(Poaition at end of period In milliona of dollars)
1/
Part of United Arab Republic (Egypt and Syria) since February 1958.
Data on claims on Syria are not available separately, but
Included in "Other Aala."
I«S3 than $50,000.
Prelimlnaiy.
Jane
mU
71
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 3.- Net Transactions In Long-Term Domestic Securities by Foreigners
(In thousands of
doUarB) nagstlve figures Indicate net sales by foreigners or s net
I
outflotf of capital from the United States)
1960
1959
Calendar yea
November
Czechoslovakia.
Denmark
Finland
France
Germany, Federal Republic of.
Greece
Italy
Netherlands
Norway
Poland
Portugal
Rumania
Spain
Sweden
Switzerland.
Turkey
768
25,355
118
-1,196
-5U
422
-42,i27
1,469
1,434
3,1X4
13,090
557
124
3,754
8,321
6,500
1,821
37
508
6,081
24,196
-9
3,356
-213
2,U5
20
236
165
21,937
565
19,696
57,037
5,235
3,012
61
672
1,337
-5,715
1,871
-7,645
62,303
22,749
276
6,937
38,327
18,303
-26
19,046
1,603
200
-17
-517
92,384
-47
233,939
6,111
98,302
4,339
-32,303
36
265 ,643
7,659
79,027
-12,228
143,358
120
10,340
-165
23,161
-26
-3,624
23,6U
21
32,916
25,282
391
22,456
-2
5,4U
107,657
80,696
lAtin Americi
Argentina.
BoUvla...
Brazil....
Chile
Colombia.
Cuba
Dominican Republic
Gustemala
Mexico
Netherlands W. Indies and
Surinam
I^nama, Republic of.
Peru
El Salvador
Uruguay
Venezuela
Other Latin America,
Total latin America.
3,066
492
1,832
2,260
1,694
1,255
-448
369
9,087
778
-29
4,723
-8,738
Total Asia
Other coxintries
Australia
Belgian Congo
Egypt 1/
Union of South Africa.
All other
Total other countries.
Internationa
Grand total
1,292
2,028
-333
-623
-2,601
410
3,385
169
2,147
-497
1,094
-68,517
232
1,656
2,561
-2,276
379
292
1,321
1,232
-102
25,546
-726
19,538
1,006
2,912
281
3,903
3,810
-1,789
670
-57
3,724
3,769
-264
524
257
124
4,185
1,483
125
-879
1,U9
-181
-2,533
-1,210
917
-256
8,841
-1,227
1,162
572
29
-93
1,682
167
33,859
8,117
-46,000
46,785
7,125
219
-2,335
-453
-403
4,231
-1,389
58
174
18,454
46
549
1,348
Asia
China Mainland.
Hong Kong
Israel
Japan
Korea, Republic of.
Philippines
Taiwan
963
706
1,096
-181
-1,694
9,5U
1,0U
1,156
186
91
15
2
-572
-2
207
-438
-756
-493
-1,993
-1,091
154
6,048
545
9,577
58
3,542
21,035
-1,U6
4,610
2,704
42,936
-1,357
-369
97
-2
-1,427
-1,407
-15
709
191
2
-213
287
4,1X4
3,U9
187
18,881
Ul,776
1,1a, 556
441
4,381
187,023
81,745
-1 ,102
8,368
250
678
-4,476
39,a6
37,977
6
-633
9,543
-59
-120,635
6,596
-U
-1,018
-4,795
9,886
Decembe:
27,716
5,725
.
Treasury Bulletin
72
,
CAPrrAL MOTBffiNTS
Section II - Summary by Countries
Table 4.- Net Transactlone in Long-Term Foreign Securities by Foreigners
(In thouBandB of dollar«| negative figuree indicate net salea
Coimtry
by forelgnere or a net outflow of capital from the United States)
June
mo
.
Table
1/
1,
CAPITAL MOVEMENTS
Section III - Preliminary Details by C!ountrles
Short-Term Banking Liabilities To Foreigners as of April 30, 1960
Part of United Arab Republic (Egypt and Syria) since February 1958.
Data on liabilities to Syria are reported miually and appear in
Section rv, table 5.
Treasury Bulletin
7^
.CAPITAL MOTEMENTS.
Table 2.
Section III - Preliminary Details by Countries
Short-Term Banking Claims on Foreigiiers as of April 30, 1960
(Position In tfaouaandB of dollar*)
June I960
75
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countries
Table 3.- Purchaeee and Sales of Long-Term Securities by Foreigners During April 1960
(In thousands of dollars)
Purchases by foreigners
Doaestic securities
Total
n.
Sales by foreigners
Foreign securities
Domestic securities
Foreign securitie
S.
purchase: Covermnent
bonds and
notes
Bonds
Stock
Bonds
Europe
Austria
Belgium
Czechoslovakia
Denmark
Finland
France
Cennany, Federal Republic of
Greece
lUly
9,337
2,786
155
5,334
100
11,586
6,119
118
1,713
8,036
2,883
118
1,170
5,070
666
1,579
492
25
5,334
7,805
5,828
200
9,120
26,318
1,643
934
35,326
28,695
2,137
lU
443
136
42
186
738
10,029
190
55,549
17
356
12,578
2,100
59,980
17,972
1,472
28,990
3,512
670
209
Netherlands
U,118
577
Norway
Poland
Portugal
35,768
34,156
102
1,707
316
2,099
4,665
Rujnania
Spain
Sweden
Swi tzerland
Turkey
U.S.S.R
United Kingdom
3,093
83,826
129
Yugoslavia
Other Europe
3,464
Total Europe
10,782
16
20,693
Canada
latin America:
Argentina
Bolivia
Brazil
Chile
Colombia
Cuba
Dominican Republic
Guatemala
Mexico
Netherlands West Indies and
Surinam
2,375
1,026
468
184
373
163
612
439
Panama, Republic of
El Salvador
Urugijay
Venezuela
Other latin Arwrlca
4,063
2,669
1,816
Total latin America
15
196
2,533
303
127
1,620
678
189
2,699
126
36
2,570
1,342
1,441
1,032
4,2U
24
373
549
3,094
1,678
1,570
2,754
3a
15,336
21,785
116
6,014
259
4,605
9,779
Asia:
China llalnland
Hong Kong
India
Indonesia
Iran
116
6,420
45,026
190
7
Israel
Japan
Korea, Republic of
Philippines
Taiwan
957
Thailand
Other Asia
74
437
Total Aala
Othar countries:
Australia
Belgian Congo
Egypt
Union of South Africa
All other
V
Total other countries
International
Grand total
1/
Part of United Arab Republ:
Data on purchases and sale
but are included in "Other
1,326
765
532
647
1,833
Stocks
.
.
.
Treasury Bulletin
76
.CAPITAL MOVIMEHTS
Table 2.- Long-Term
i/
Section IV - Supplementary Data by Countries
LlabllltleB to and Claims on Foreigners Reported by Banks and Bankers
(Position at end of period in thousands of dollars)
Claims on forelgne:
Idablllties to foreigners 2/
1959
Country
September
Doceinber
Austria.
Belgium.
Denmark.
Finland.
France .
Germany, Federal
Republic of
Greece
Italy
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom...
Yugoslavia
19,831
16,454
22,147
1,286
2,692
20,198
9,760
906
23,562
6,363
6,858
51,135
19,230
152,246
7,886
6,794
51,256
11,400
150,896
9,328
6,074
35,150
10,150
137,661
1,621
9,053
32,096
1,730
99
69,323
1,522
7,756
33,558
3,605
99
68,252
161
2,022
7,101
33,316
2,855
99
49,764
U,320
1,792
5,261
30,947
2,605
99
86,571
140
500
10,519
Other Europe
Total Europe.
U7
24, 2U
1,1U
3,1U
10,418
366,411
436,941
11,567
Canada
98,582
96,787
Latin America:
Argentina.
Bolivia...
Brazil
Chile
Colombia.
Cuba
Dominican
Guatemala
23,561
29,804
600
2,308
20,349
131,999
1,000
22,277
2i,551
32,360
600
2,787
20,249
28,799
U
Republic
Ifexlco
95,786
94,473
273
716
107,973
319
685
117,947
1,500
2,100
2,400
28,020
13,507
457
1,172
43,863
49,021
26,805
13,551
135
902
31,576
54,106
38,373
12,814
268
812
32,189
60,872
760,322
9,4U
20,799
El Salvador
Uruguay
Venezuela
Other Latin Amerlc
100
23,477
13,970
506
1,084
45,992
50,838
Total Latin
184
661,826
695,111
1,101
9,378
9,950
4,448
12,002
15,310
17,312
1,527
12,923
8,450
4,482
10,367
16,975
14,128
10,876
4,312
97,778
84,040
Hong Kong.
India
Indonesia.
Israel
Japan
Philippines
Thailand...
Other Asia.
U,991
U,286
Total Asia...
262,823
261,023
Netherlands West
Indies and Surinam.
Panama, Republic of.
65,543
41
253,488
57,332
18,246
260,395
8,050
23,926
94,
4U
2,027
1,916
138,113
48,417
25,524
71,248
2,023
1,907
175,358
7,075
15,931
7,464
9,976
1,681
1,522
10,531
56,300
9,074
3,607
15,858
7,152
9,800
2,381
95,609
116,225
19,472
80,625
19,93
1,506,835
1,526,314
1,513
13,159
37,800
1,010
Other countries
Australia
Belgian Congo
Egypt 1/
Union of South Afric
All other
18,351
2,028
22,972
2,028
9,519
75,576
19,019
76,942
Total other countries
Grand total.
i/
2/
25,492
a, 278
83,240
120,961
1,599
Having a maturity of more than one year from date of Issuance;
excluding long-term securities.
For the following countries, no long-tel m liabilities or claims
were reported as outstanding at the end of periods shown in this
table: Czechoslovakia, Poland, Rumania, U.S.S.R., China Mainland,
1,360,893
2/
p
1,440,102
Republic of Korea, Taiwan, and International.
Part of United Arab Republic (Egypt and Syria) since February
1958. Data on liabilities to and claims on Syria are not
available separately, but are Included in "Other Asia."
Preliminary.
June I960
77
.
CAPITAL MOVJMENTS
Section IV - Supplementary Data by Countries
Table 3.- Eetimated Gold Reserves i/and Dollar Holdings of Foreign Countries
and International Institutions
(Poaltlon at end of period in mllllops of dollars)
1958
1959
December
Area and country
Continental Western Europe:
Austria
Belgium- Luxembourg (and Belgian Congo)
Denmark
Finland
France (and dependencies)
Gold and
shortterm
dollars
June
Gold and
Gov't
bonds
and notes dollars
Gov't
bonds
and notei
605
1,522
200
lOi
l,295r
629
1,489
169
1,469t
l,893r
Germany, Federal Republic of
Greece
Italy
Netherlands (and N.W.I, and Surinam).
Norway
4,39i
4,063
4,171
179r
2,720
1,627
156
Portugal (and dependencies)
Spain (and dependencies)
Sweden
Switzerland
Turkey
Other 4/
707
94
507
2,777
164
l,209r
498
2,781
164
l,117r
16
17,598r
17,653r
358
3,723
109
3,923
110
246
337
346
221
250
199
^
Total Continental Western Europe.
Sterling Areat
Dnited Kingdom
United Kingdom dependencies
Australia.
India
Union of South Africa.
Other
Total sterling
113
U3r
158r
2,4a
2,207
1,497
1,614
151
173
729r
71 2r
88
241
324
241
251
43
4,889
242
2,787
165
l.lllr
37
Canada
Latin America:
Argentina.
Bolivia. .
Brazil....
Chile
Colombia.
Cuba
Dominican Republic
El Salvador
Guatemala '........
Mexico
463
140
2a
504
135
262
366
69
561
566
U7
Crther
146
96
262
1,Z13
119
Total Latin Americ
4,017
Panama, Republic of.
Uruguay.
Venezuela
U5
Japan
•
Philippines...
Thailand
Other 1/
Total Asia l/.
184
1,094
Grand total 1/
2,876
246
931
13
U9
32,563r
118
179
1,380
178
156
195
1,232
180
250
190
Total other cotintries X/'
Total foreign countries l/.
155
4,174
2,632
Other countries:
Egypt 5/.
Other i/
International
96
269
1,219
September
S.
Cold and
Gov't
shortbonds
term
and notes dollars
D.
Gold and
shortGov't
bonds
term
and notes dollars
n. S.
Gold and
shortterm
dollars
n. S.
Gov't
bonds
and notes
Treasury Bulletin
78
.CORPORATIONS AMD CERTAIK OTHER BUSINESS-TYPE ACTIVITIES.
The current financial statements of corporations and
certain other business-type activities of the United States
Government which appear in the "Treasury Bulletin" begin-
published quarterly and appear as Section
I In the series
The first data under the new regulations are
for March 3I1 1956> a"3 were presented in the August 1956
of tables.
Statements of Income and expense and source and
ning with the August 195^ Issue are compiled from reports
Bulletin.
submitted to the Treasury under Department Circular
application of funds are published semiannually, for June JO
and December 3I reporting dates, and appear as Sections II
No. 9661
Issued January 30, 195^. ^'^^ Supplement No. 1,
The regulations so issued are pur1, 1956'
The first of these stf.tements under the new
Issued June
and III,
suant to Section 114 of the Budget and Accounting Proce-
regulations cover the fiscal year 195^, and were published
Within the sections,
dures Act of 1950 (31 U.S.C. 66 b), and represent another
In the January 1957 Bulletin.
step In the program of comprehensive and integrated Oov-
agencies are grouped in separate tables by type, as follows:
ernment accounting and financial reporting for which
authority was provided In that act. They supersede
public enterprise revolving funds,
Budget-Treasury Regulation No. 3, Issued under Executive
Order No. S512 of August I3, 19'*0, as amended by Executive Order No. <)OSk of March 3, 19^2, under which fi-
and trust revolving funds.
nancial statements previously published in the Bulletin
all executive agencies and activities not reporting under
v;ere
intragovernmental
revolving funds, certain other activities, deposit funds,
Supplement No. 1 added to the coverage by including
Department Circular No. 9^6, but required only a statement
submitted.
of financial condition annually as of June 3".
Department Circular No. 9^6 requires
subriilssicn of financial statements by all wholly owned
mixed-ownership
Sovernment corporations epeclfloally
and
Included in the Sovernment Corporation Control Act, as
amended (31 U.3.0. 31+6, 356); and all other activities
of the Government operating as revolving funds for which
business-type public enterprise or Intragovernmental fund
budgets are required by the Bureau of the Budget. Other
In coverage,
activities and agencies whose operations, services, or
functions are largely self-liquidating or primarily of
a revenue-producing nature, and activities and agencies
whose operations result in the accumulation of substantial
Inventories,
the
investments and other recoverable assets,
These are
mainly not business-type activities, and those which had
not yet developed formal accounting procedures to provide
complete balance sheet types of statements were authorlEed
temporarily to report only the asset side.
Thus the sup-
plement rounds out provision for the information on
properties and assets of the United States Government which
the Treasury has been asked to furnish to the Committee on
Government Operations, House of Representatives, for a
continuing study of the assets of the Government. The
first comprehensive reporting under Supplement No. 1 is
for June 30, 1957, anS the data were published in the
December I957 issue of the Bulletin as Part B of Table ^
In Section I.
may be brought under the re^^ulations as agency accounting
systems are developed to the point where they are capable
A summary of loans outstanding for a series of dates
of furnishing the financial reports required.
Four kinds of financial statements are called for by
Department Circular ::o. 966. They are statements of
included in Section
I of the Bulletin presentation
beginning with the June I95S issue. Two classifications
is
source and
of the loans are shown, one by type and one by agency.
Data prior to 195^ are based on the earlier reporting
application of funds, and certain commitments and contingencies.
The statements of financial condition are
requirements, which provided for complete coverage of
Government lending agencies.
financial condition,
Income and expense,
June I960
79
,
I
Table
1.
COEPORATIONS AND CKRTAIH OTHER BUSINESS-TYPE ACTIVITIES.
Section I - Statements of Financial C!ondltlon
Summary by Specified Claeses of Actlvltiee, March 31, 1960
(in tbousaiKle of dollars)
Account
80
June
mo
CORPORATIONS AND CERTAIN OTHER BUSHtESS-TYEE ACTIVITXES.
Section I - StatementE of Financial Condi tlon
Table 2.- Public Enterpr lee Revolving Funds, March 31, 1960
(In thousands of dollara)
-
(Continued)
Treasury Bulletin
S2
.CORPORATIONS AND CKRTAIN OTHER BUSINESS-TYEE ACTIVITIES.
Table 2.
Section I - Statements of Financial Condition
Public Enterprl se Revolving Funds, March 31, 1960
(In thousands of dollars)
(Continued)
Jane 1960
.CORPORATIONS AND CERTAIN OTHER BUSIMESS-TYEE ACTIVITIES.
Section I - Statements of Financial Condition
Table 2.- Public Enterprlee Revolving Funds, March 31, 1960
(In thousands of dollars)
-
(Continued)
:
Treasury Bulletin
ik-
.COKPOEATIONS AMD CERTAIN OTHKR BUSINESS-TXPE AJTiVi'i'lKS.
Section I - Statements of Financial Condition
Table 2.- Public EnterprlBC Revolving Funds, March 31, 1960
(In thousands of
-
(Continued)
doUArs)
General Services Administration
Federal
Facilities
Corporation
Reconstruction
Finance
Corporation
liquidation
Housing and Home Finance Agency
Office of the Administrator
Expansion
of defense
production
Defense
production
guaranties
College
housing
fund
ASSETS
Cash in banks, on hand, and In transit
Fund balances with the U. S. Treasuiy 1/.
Investmants:
Public debt securities (par value)
Securities of Govemment enterprises...
Unamortized premium, or discount (-)
Other securities
Advances to contractors and agents:
Government agencies
Other
Accounts and notes receivable:
Government agencies
Other (net )
Inventories
Allowance for losses (-)
Accrued interest receivable:
On public debt securities
On securities of Government enterprise:
Other
Loans receivable:
Government agencies
Other: U. S. dollar loans
Foreign currency loans
Allowance for losses (-)
Acquired security or collateral (net)....
land, structures, and equipment
Accumulated depreciation (- )
Foreign currencies
Other assets (net )
2,567
5,568
—
156
5,925
1,524
24
399
33
4,567
1,456,393
558
714,058
-558
1,990
-1,372
4,365
-2,888
-1,747
103,212
-29,709
7,764
Total assets
LIABILITIES
Accounts payable
Government agencies
Other
Accrued liabilities:
Government agencies
Other
Advances from:
Government agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds, debentures, and notes payable:
Government agencies
Other: Guaranteed by the U. S
Not guaranteed by the U. S
Other liabilities (including reserves)..
758,233
301
5,094
,
,
1,051
Total liabilities
NET INVESTMENT
United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S. Treasury..
Other
Noninterest-bearlng investmant:
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumulated net Income, or deficit (-)
Deposits of general and special fund
1,714,700
108,515
13,866
-9,917
Total United States interest
11,657 2/
-289,277
11,657
Total liabilities and investment
ANAUSIS OF UNITED STATES DIVESTMENT
United States investment
Accumulated net Income, or deficit (-)..
7,719 2/
1,533,938
7,764
13,866
-9,917
1,823,215
-289,277
11,657
investment Incl. Interagency items
Interagency items:
Due from Government agencies (-)
Due to Government agencies
11,657
-1,524
-221
Investment excl. interagency items
10,133
7,542
U. S.
U.
S.
Footnotes at end of Table
8.
7,719
a.
(Continued on following page)
5,836
5,836
-189
44.832
1,578,581
5,836
755,737
-3,584
June i960
COEPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section I - Statemente of Financial Condition
Table 2.- Public Enterprise Revolving Funds, March 31, 1960
(Continued)
(in thousands of dollars)
Housing and Home Finance Agency
of the Administrator - (Conti
Public works
planning
fund
ASSETS
Cash in banks, on hand, and in transit...
Fund balances with the U. S. Treasury 1/.
Investments:
Public debt securities (per value)
Securities of Goveminent enterprises...
Unamortized premium, or discount (-)...
Other securities
Advances to contractors and agents:
Government agencies
Other
Accounts and notes receivable
Government agencies
Other (net )
Inventorie s
Allowance for losses (-)
Accrued interest receivable:
On public debt securities
On securities of Government enterprise:
Other
Loans receivable:
Government agencies
Other: U. S. dollar loans
Foreign currency loans
Allowance for losses (-)
Acquired security or collateral (net ) .
land, structures, and equipment
Accumulated depreciation (Foreign currencies
Other assets (net)
.
Liquidating
programs
ed)
Urban
renewal
fund
Community
disposal
operations
fund
8,161
Special
assistance
functions
775
6,026
773
20,908
1,758,994
a?
-373
5,800
605
-298
-5,
1,557
11,286
-9,i55
.
126,309
5,650
-4,293 8/
1,943
14
1,862,268
3,840
Total Uabillties
5,494 3/
NET DWESTMEarr
United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S. Treasury...
Other
Noninterest-bearing Investment:
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumulated net income, or deficit (-).
Deposits of general and special fund
Total United States interest
107
20,267
30,000
-851
1,504,234
276,859
-388,706
-1,176,428
29, U9
54,909
-42,000
737
183,081
13 ,645
1,019,189
1,611,218
13,821
1,862,268"
1,637,347
442,000
-258,919
872,782
146,406
1,576,921
34,297
1,654
-84,376
19,307
Total liabilities and investment
ANALYSIS OF UNITED STATES INVESTMENT
United States investment
Accumulated net income, or deficit (-)
investment tncl. interagency items.
Interagency items:
Due from Government agencies (-)
Due to Government agencies
S.
investment excl. interagency items.
Footnotes at end of Table
and
liquidating
functions
6,205
LIABILITIES
Accounts payable
Government agencies
Other
Accrued liabilities:
Government agencies
Other
Advances from:
Government agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds, debentures, and notes payable:
Government agencies
Other: Guaranteed by the U. S
Not guaranteed by the U. S
Other liabilities (including reserves)...
S.
Federal National
Mortgage Association
2,272
30
Total assets
U.
(Continued)
65,350
)
U.
-
8.
1,392,387
-1,176,428
29,149
1,611,218
-15,063
42_
200,938
184,736
(Continued on following page)
13,645
-2,524
15,205
1,623,8
Treasurii Bulletin
86
COEPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section I - Statements of Financial Condition
Table 2.- Public Enterprl Be Revolving Funds, March 31, 1960
(In thousands of dollars)
(Continued!
Jane 1960
87
.CORPORATIONS AND CERTAIN OTHER BUSnCESS-TTPE ACTIVITIES.
Table 2.
Section I - Statements of Financial Condi tion
Public Enterprise Revolving Funds, March 31, 1960
(In thousands of doUflrs)
(Continued)
Treasury Bulletin
Si
.COEPOEATIONS AND CERTAIN OTHER BUSmESS-TTPE
Table 2.
ACnVmES.
Section I - Statements of Financial Condition
Public Enterprise Revolving Funds, March 31, 1960
(In thousands of dollars)
(Continued
I
June
mo
«9
.CORPORATIONS AND CERTAUl OTHER BUSIMESS-TYFE ACTIVITIES.
Section I - Statemente Of Financial Condition
Table 2.- Public Enterprise Revolving Funds, March 31, 1960
(in thousands of dollars)
(Continued)
Treasury Bulletin
90
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TrPE ACTIVITIES.
Table 2.
Section I - Statements of Financial Condi tlon
Public Enterprise Revolving Funds, March 31, 1960
(In thousands of
doUars)
-
(Continued)
June
mo
91
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section I - Statements of Financial Condition
Table 2.- Public Enterprise Revolving Fxmds, March 31, 1960
-
(Continued)
Treasury Bulletin
92
.CORPORATIONS ARB CEBTAIH OTHER BOSBtESS-TXPE ACTiViTUES,
Section I - Statemente of Financial Condition
Table 3.- Intragovernmental Revolving Funde, March 31, 1960
(In ttaousanda of dollars)
June I960
.
COEPORATIONS AND CERTAIN
OTHEaf?
BUSINESS-TYPE ACTIVmES,
Section I - Statements of Financial Condition
Table 3.- Intragovernmental Revolving Funds, March 31, 1960
(Id tbousanda of dollare)
-
(Continued)
Treasury Bulletin
91^
.
COKPORATIOKS AND CERTAIN OTHER BUSIKESS-TYPE ACTIVTriES.
Section I - Statemente of Financial Condition
Table 3.- Intragovernmental Revolving Funds, March 31, 1960
(In thoufiande of dollare)
(Continued)
Jane I960
95
.
COEPORATIONS AHD CKRTAIN OTBER BUSHJESS-TYEE ilCTIVTnES.
Section I - Statements of Financial Condition
Table 3.- Intragovernmental Revolving Funds, March 31, 1960
(In tbouaajide of dollars)
-
(Continued)
Treasury Bulletin
96
.COEPOEATIONS AMD CERTAIN OTBKR BOSINESS-TyEE ACTIVITIES.
Section I - Statements of Financial Condition
Table 4.- Certain Other Activities, March 31, 1960
(in thousands of dollars)
June I960
97
-COEPOEATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Table
4.-
Section I - Statements of Financial Condition
Certain Other Activities, March 31, 1960 - (Continued)
(In thousands of dollars)
Treasury Bulletin
.COEPORATIONS AND CERTAIN OTHKR BUSlMESS-TyPE ACTIVITIES.
Section I - Statements of Financial Condition
Table 4.- Certain Other Activities, March 31, 1960 - (Continued)
(In thousands of dollars]
99
June I960
COKEOEATIONS AND CKRTAIN OTHER BOSIKESS-TYPE
Table 4.
AL'i'iViTIES.
Section I - Statements of Financial Condition
Certain Other Activities, March 31, 1960 - (Continued)
(In thousands of dollars)
Justice Department
Interior Department
Bonneville
Power
tration
ASSETS
Cash in banks, on hand, and in transit...
Fund balances with the U. S. Treasury^.
Investments:
Public debt securities (per value)
Securities of Government enterprises
Unaniortized premium, or discount (-)...
Other securities
Advances to contractors and agents:
Govemment agencies
Other
Accounts and notes receivable:
Government agencies
Other (net )
Inventorie s
Allowance for losses (-)
Accrued interest receivable:
On public debt securities
On securities of Government enterprises
Other
Loans receivable:
Government agencies
Other: V. S. dollar loans
Foreign currency loans
Allowance for losses (-)
Acquired security or collateral (net)....
land, structures, and equipment
Accumulated depreciation (- )
Foreign currencies
Other assets (net)
Southeastern
Southwestern
Administration
Administration
Immigration
and NaturaliService
13
20,757
1,671
Legal
activities
and general
administration
State
Department
International
Boundary
and Water
Commission
Treasury
Departmen
Miscellaneous
loans and
other assets
164
17,743
—
4,938,438
2,496,506 11/
9,i83
5,222
254,427
204,193
3,386,365 22/
26,356
-5,179
U3,535
-94,338
30,6^1
Total assets
LIABIIITIES
Accounts payable
Government agencies
Other
Accrued liabilities:
Government agencies
Other
Advances from:
Govemment agencies
Other
Trust and deposit liabilities:
Government agencies
Other
Bonds, debentures, and notes payable:
Government agencies
Other: Guaranteed by the U. S
Not guaranteed by the U. S
Other liabilities (including reserves)...
14,387
5,565
42
122,255
35,547
U5,831
63,051
-3,456
2,596
3,782
39
2,035
5,776
Total liabilities
NET MTESTt-tENT
United States interest:
Interest-bearing investment:
Capital stock
Borrowings from the U. S, Treasury...
Other
Nonlnterest-bearing inveatment;
Capital stock
Appropriations
Capitalization of assets (net)
Other
Accumilated net income, or deficit (-).
Deposits of general and special fund
608,354
17,802
79,734 i2/
53,758
9,763
112
-334 14/
92,019
28,511
17,774
14,641
14,506
127,876
10,821,309
576
5,211 12/
18,353
458,620
-26,452
-337,107
Total United States interest
11,279,929
422,542
11,279,929
Total liabilities and Investment
AMAHSIS OF UNITED STATES DIVESTMENT
United States Investment
Accumulated net income, or deficit (-)...
368,783
53,758
Investment Incl. interagency items.
Interagency items:
Due from Government agencies (-)
Due to Government agencies
-3,647
569
investment excl. interagency items.
419.464
-87,734
92,019
96,310
-28,029
7,846
18,353
Footnotes at end of Table
8.
10,821,309
458,620
11,279,929
D. S.
U. S.
W/
-254,427
145,817
Treasury Bulletin
,
COEPOEATIONS AND CERTAIN OTHER BUSINESS-TYFE ACTIVITIES.
Section I - Statemente of Financial Condition
Table 5.- Certain Deposit Funds, March 31, 1960
(In thoooaiide of dollare)
June I960
.
COEPORATIONS AND CERTAIN OTHEB BUSINESS-TYEE ACTiViTlKS.
Section I - Statements of Financial Condition
Table 6.- Certain Trust Revolving Funds, March 31, 1960
(In thousands of dollars)
Treasury Bulletin
.CORPOEATIONS AND CERTAIH OTHER BUSUtESS-TYPE ACTIVITIES.
Section I - Statements of Financial Condition
Table 6.- Certain Trust Revolving Funds, March 31, 1960 - (Continued)
(In thousanda of dollars)
June I960
103
-CORPORATIONS AND CERTAIN OTHER BUSINESS-TYFE ACTIVITIES.
Section I - Statements of Financial Condition
Table 7.- Loane Outstanding March 31, 1960, Excluding Interagency Loans and Those Made by
Deposit and Trust Revolving Funds, Classified by Types of Loans
(In thousands of dollars)
United Statee dollar loans
Type of loan and lending agency
Public enterprise
revolving funds
To aid agriculture;
Loans to cooperative associations:
Farmers Home Administration
Rural Electrification Administration
Crop, livestock, and commodity loans:
Commodity Credit Corporation
Disaster loans, etc., revolving fund
Farmers' Home Administration
V irgin Is lands Corporation
Storage facility and equipment loans:
Commodity Credit Corporation
Farm mortgage loans
Farmers' Home Administration
Farm tenant mortgage insurance fund
Guaranteed loans held by lending agencies:
Commodity Credit Corporation
Other loans:
Fanners' Home Administration
'
Total to aid agriculture
1,702,666
56.155
3,803
1,702,666
56,155
U,670
i^36,701
AC, 762
181,520 2/
ji0,762
181,520 2/
iU7,285
,
To aid home owners
Mortgage loans:
Federal National Mortgage Association:
Management and liquidating functions...,
Special assistance functions
Housing and Home Finance Administrator:
Liquidat ing programs
Interior Department:
Bureau of Indian Affairs:
Liquidation of Hoonah housing project
Veterans' Administration:
Direct loans to veterans and
Loan guaranty program
Other loans:
Veterans' Administration:
Direct loans to veterans and
Loan guaranty program
l,758,99ii
1,629,957
,
939,392
3,948
i,576
289,862
4,333,886
Total to aid home owners
To aid industry:
Loans to railroads
Expansion of defense production:
Treasury Department
Other purposes:
Treasury Department;
Reconstruction Finance Corporation liquidation
Ship mortgage loans:
Commerce Department:
Federal ship mortgage insurance fund
Maritime activities
Other loans:
Expansion of defense production:
Interior Department
Treasury Department
Defense production guaranties:
Air Force Department
Army Department
Navy Department
General Services Administration
Other purposes:
Export-Import Bank of Washingtori
General Services Administration:
Reconstruction Finance Corporation liquidation
Housing and Home Finance Administrator:
Liquidat ing programs
Inland Waterways Corporation
Interior Department:
Bureau of Commercial Fisheries:
Fisheries loan fund
Small Business Administration:
Revolving fund (lending operations)
Reconstruction Finance Corporation liquidation
Treasury Department;
Civil defense loans
Reconstruction Finance Corporation liquidation
Virgin Islands Corporation
Total to aid industry
Footnotes on following page.
1,307
fund.
,
,
,
fund
329,565
fund
3,2U
fund
912
12,272
712,676
Foreign
currency
loans 2/
.
104-
Treasury Bulletin
.CORPORATIONS AMD CERTAIN OTHER BUSINESS-TYFE ACTiVlTIES,
Section I - Statements of Financial Condition
Table 7.- Loans Outstanding March 31, I960, Excluding Interagency Loans and Those Made by
Deposit and Trust Revolving Funds, Classified by Types of Loans - (Continued)
(In thousands of dollars)
United States dollar loans
Type of loan and lending agency
Public enterpria
revolving funds
Total 1/
To aid States, Territories, etc.:
General Services Administration:
Public Works Administration (in liquidation)
Housing and Home Finance Administrator:
Public facility loans
Liquidating programs
Urban renewal fund
Inland Waterways Corporation
Public Housing Administration
Treasury Deps-rtment:
Mia eel lane ous loans and certain other assets
Total to aid States
,
Territories
,
7,993
82,339
6
91,
U8
12,875
etc
3l6,09ii
Foreign loans;
Expansion of defense production:
Export -Import Bank of Washington
Other purposes:
Commerce Department:
Maritime activities
Development loan fund
Export-Import Bank of Washington:
Regular lending activities
Liquidation of certain Fieconstruction Finance Corporation assets
International Cooperation Administration
Treasury Department:
Miscellaneous loans and certain other assets
26,590
62,33i
Total foreign loans
Other loans:
Health, Education, and Welfare Department:
Office of Education:
Loans t j students (World War II)
Housing and Home Finance Administrator:
College hous ing loans
Liquidating programs
Interior Department:
Bureau of Indian Affairs;
Revolving fund for loans
Office of Territories;
Loans to private trading enterprises
Small Business Administration:
Revolving fund (lending operations)
Reconstruction Finance Corporation liquidation fund
Treasury Department:
Mia cellaneous loans and certain other assets
Veterans' Administration;
Service-disabled veterans' insurance fund
Soldiers' and sailors' civil relief
Veterans' special term insurance fund
Vocational rehabilitation revolving fund
Total other loans
Total loans
.
U,675
2,713
i2,63i
7,993
82,329
Foreign
currency
loans 2/
June I960
105
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section 1 - Statements of Financial Condition
Table 8.- Loans Outstanding by Periods for All Business-Type Activities
Excluding Interagency Loans but Including Foreign Currency Loans
Part A.- Classified by Types of Loans
A
i
2
7
1
Treasury Bulletin
io6
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section I - Statements of Financial Condition
Table 8.- Loans Outstanding by Periods for All Business-Type Activities
Excluding Interagency Loans but Including Foreign Currency Loans
Part B.- Classified by Agencies
(In millions of dollars)
Export-Import Bank
of Washington
Farm Credit Administratio
Total
1/
Fed . home
loan
banks
Mortgage
tration 8/ prod.
Fiscal years:
1950..
1951
1952
1953
1954
1955
1956
1957
1958
1959
,
V
12,771.7 10/
13, 689.
Corp.
2,233.3
2,321.6
2,388.9
2,547.0
2,761.8
2,773.6
2,681.5
2,630.2
3,061.3
3,485.6
245.1
312.1
343.1
324.3
309.2
321.7
349.1
384.3
410.0
525.9
52.9
39.7
29.3
21.6
15.9
11.6
345.5
424.8
424.0
377.3
366.7
375.1
457.1
454.5
511.3
622.9
45.5
34.0
24.9
510.2
633.0
673.3
18.4
13.4
590.2
637.7
689.4
733.6
473.2
518.0
575.8
18,743.8
19,420.5
20,547.5
21,812.8
22,893.4
27,510.7
4/
1,457.2
1,529.7
1,543.5
1,691.6
1,885.5
2,111.3
2,436.7
2,894.2
Calendar years :
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
13,413.2 10/
U, 595.1
17,966.7
20,086.0
19,575.5
20,506.3
21,091.5
22,755.6
25,851.1
28,277.7
1,514.3
1,536.8
1,623.9
1,766.8
1,994.6
2,194.8
2,682.3
3,042.6
7.9
19.8
23.5
38.2
34.4
30.4
26.4
2,226.5
2,296.0
2,496.1
2,833.3
2,806.2
2,702.2
2,663.1
3,005.6
3,332.1
3,231.3
Current quarters:
1958-Sept. 30.
1959-Mar. 31.
Sept. 30.
1960-Mar. 31.
23,717.4
27,330.5
27,588.9
28,507.8
2,514.5
2,781.6
2,998.3
3,115.0
32.4
30.4
28.4
26.4
3,206.9
3,408.2
3,501.4
3,239.5
,
16,066.0
17, 863.
.1
.4
13.1
22.3
30.3
36.5
32.4
28.4
i/
V
.2
^tor
Fiscal years:
1950..
1951
1952
1953
1954
1955
1956
1957
1958
1959
32.6
43.3
59.2
99.3
229.4
3O8.2
456.7
477.2
679.5
Federal Nati
Mortgage Ass
Federal
Housing
tration
Public
Housin
t ratio
U/
20.1
23.2
32.5
37.4
43.9
9.1
233.4
1,248.1
1,393.6
1,573.8
defense
prod.
945.9
802.9
656.8
652.7
379.6
6.8
59.3
123.2
816.0
743.5
674.0
805.'
864.
951.
867.
1,416.
56.6
18/
24.6
320.7
464.1
623.7
534.9
252.2
99.5
90a
94.2
91.3
164.
l,2U.l
164.
257.:
1,265.
1,298.
2,134.
26.8
54.1
115.6
202.9
292.8
370.8
1,233.9
1,313.4
1,562.3
1,499.1
1,009.5
1,087.4
1,794.9
1,520.3
260.1
316.3
356.0
380.2
H/
1,228.,
Commodity
ration
te.7
354.0
389.7
1,162.6
2,367.9
2,137.4
2,319.0
1,994.3
1,600.0
2,480.3
w
555.8
564.7
593.5
645.4
753.9
769.5
810.6
856.5
59.4
132.3
207.4
298.2
370.2
433.3
521.3
694.1
824.7
2.2
34.9
85.1
154.8
245.5
346.6
928.8
1,159.0
1,395.9
U.6
Veterans'
Admini strati
Small
Business
GSA
Direct Loan
guaranty
istration loan
program program
328.1
412.1
463.1
640..
745.1
893.1
Public
Works
(in liquidation)
6.9
17.2
28.3
39.5
50.8
60.5
78.2
106.8
156.8
231.8
86.5
85.6
84.5
83.4
82.3
81.1
79.9
11.0
22.7
33.7
44.2
55.6
68.2
91.2
129.2
190.0
272.8
87.2
87.1
86.7
85.9
84.9
83.8
82.6
81.5
80.3
79.1
173.2
207.7
254.3
293.8
80.6
80.0
79.4
78.8
9.1
Treasury Department
Conmierce
Dept.
Dept.
11/
Management and
liquidating
1,055.6
1,578.9
2,068.1
2,497.8
2,301.2
2,584.5
2,495.6
2,356.5
2,218.5
2,030.4
442.8
816.2
652.7
718.3
675.1
1,016.9
1,173.4
1,079.4
929.5
1,537.1
823.8
773.9
846.6
897.7
996.5
1,227.0
1,547.4
Reconstruction
Finance Corp. 2/
Agriculture Department
Houaing and Home Finande Agency
Office
the
Admini 3
Fed . Home
Loan Bk.
Board
Rural
Electrlficatlor
Admlnls-
Other
RFC
Other
(in liqui-
dation)
defense
2/
12/
16/
prod.
prod.
1,412.7
1,6U.2
1,831.2
2,013.8
2,164.0
2,285.5
2,a3.2
2,585.8
2,773.6
2,973.5
275.1
270.4
235.0
205.5
7.0
10.1
11.9
14.5
16.9
18.8
14.6
202.1
115.6
70.4
151.2
170.9
185.4
180.2
181.7
159.4
3,780.1 29.4
3,779.6 31.2
3,742.3 a.i
3,595.9 35.1
3,551.1 40.1
3,501.0 28.6
3,555.2 31.8
3,509.5 35.1
3,522.5 39.8
3,470.5 146.8
Calendar years
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
Current quarters
1958-Sept. 30.
1959-Mar. 31.
Sept. 30,
1960-Mar. 31.
26.1
40.5
42.2
78.2
192.2
264.3
352.4
356.7
570.1
835.1
525.3
615.2
753.3
859.9
Footnotes on page 108.
1,346.'
1,849.'
20.2
29.5
2,2a.
35.0
1,949.
85.7
648.7
1,635.8
1,380.7
2,049.8
1,568.4
369.3
609.3
922.4
544.5
113.2
92.9
106.0
105.4
95.9
87.4
2,173.3
2,078.4
1,978.1
1,759.0
1,333.5
1,463.6
1,776.6
2,370.4
209.4
820.1
1,482.9
1,630.0
105.9
85.8
90.7
91.4
2,461.'
2,461.'
2,555.'
2,417.
2,289.'
2,124.:
40.5
48.3
67.4
5.6
72.2
a8.6
18/
897.8
782.3
1,426.4
3,075.9
2,980.9
2,620.8
2,348.9
1,778.1
3,298.4
1,745.0
915.9
1,543.0
1,742.1
1,919.7
2,095.0
2,225.8
2,348.0
2,488.2
2,587.5
2,874.4
3,082.7
1,962.1
3,943.8
1,497.9
1,928.9
899.9
935.1
971.7
1,001.5
2,820.1
2,919.4
3,028.6
3,139.8
535.4
538.7
596.3
648.1
700.5
681.3
757.5
832.1
8a.8
5/
2/
260.7
275.5
255.4
226.3
195.2
5.1
8.9
11.0
13.2
15.8
18.0
14.7
14.3
232.5
218.9
202.3
19.1
14.5
184.
U.3
U.4
3,779.6
3,779.5
3,697.0
3,651.6
3,604.2
3,552.9
27.7
36.2
36.4
41.6
34.6
30.3
30.9
42.0
37.8
193.2
145.8
152.5
185.8
178.6
177.5
176.3
I64.9
3,557.5
3,469.9
3,406.3
181.2
173.5
165.9
154.7
3,520.5 33.6
3,469.4 57.5
3,469.0 147.0
3,405.5 251.9
3,507'.l
I960
107
.CORPORATIONS AND CEKTAIW OTHER BUSINESS-TYPE ACTIVTTIES-
Footnotes to Table
1/
2/
1
Act of 195A) as amended, and the Mutual Security Acts, as amended.
Dollar equivalents are computed for reporting purposes, to provide a
common denominator for the currencies of the many countries Involved.
The rates of exchange used in the conversion of foreign currency
units to United States dollar equivalent generally depend on the
ultimate utilization of these currencies.
Loans and other foreign
currency receivables that are dollar denominated In loan agreements
are valued at agreement rates of exchange.
Loans stated in units of
forei^ currency and receivables In currencies that are available
for sale for dollars and certain other United States uses are converted at market rates of exchange in effect on reporting dates, i.e.
the rates at which the Treasury sells such currency to Government
These amounts conalst In the main of unexpended balances of general,
special, and revolving fund accounts against irtilch checks may be
drawn to pay proper charges under these funds. The funds are considered as assets of the agencies, but are not assets of the United
States Government since funds must be provided out of cash balances
of the Treasurer of the United States and future receipts to take
care of checks to be Issued against the balances.
Includes foreign currency assets, representing loans and other receivables recoverable In foreign currency as well as balances of foreign currencies in United States depositaries, aggregating $1,633,320
thousand in dollar equivalent.
These currencies, acquired without
the payment of dollars , were generated under various Government programs principally, the Agricultural Trade Development and Assistance
agencies.
,
Footnotes to Table 2
1/
2/
^
See Table 1, footnote 1.
See Table
Foreign currency assets are Included throughout the table
1, footnote 2.
Certain corporations and other business-type activities that have ubmitted statements of financial condition have guaranteed and Insured
These comloans which were made by private financial Institutions,
mitments are of a contingent nature and have been excluded from the'
balance sheets. The major agencies that have these contingei
the amounts are as follows:
Activity
International Cooperation Administration:
Foreign investment guaranty fund (December 31, 1959)
Export-Import Bank of Washington:
Regular lending activities
Veterans' Administration;
Loan guaranty program (December 31, 1959)
Housing and Home Finance Agency:
Office of the Administrator:
Urban renewal fund (December 31, 1959)
Federal Housing Administration
Public Housing Administration:
Local housing authority bonds and notes (Commitments covered by annual contributions)
Local housing authority temporary notes (Guaranteed)
Agriculture Department:
Farmers' Home Administration:
Farm tenant mortgage insurance fund
Commerce Department:
Federal ship mortgage insurance fund
Treasury Department:
Expansion of defense production
Defense production guaranties (various activities) (December 31, 1959)
4/
^
6/
7/
/Unount
(in thousands
8/
2/
of dollars)
10/
11/
ig/
12/
14/
378,298
15/
30,385,UA
»
Represents the remaining accountability of the United Statee Government in certain assets and Habilltlee transferred from the Reconstruction Finance Corporation effective July 1, 195ii.
The surplus Is considered by the Corporation as available for future
insurance losses and related expenses with respect to insured Institutions.
Consists of net income from power operations of t56l,107 thousand and
net expense of nonre venue -producing programs of $209,115 thousand,
Represents the equity of the United States Treasury in this fund.
Includes unrealized purchase discounts amounting to $3,^57 thousand.
Includes operating and administrative expenses funds,
Includes guaranteed loans and certificates of interest aggregating
$181,520 thousand which are held by lending agencies.
Figures are as of December 31, 1959, the latest available,
Includes net accrued interest of $l,6li thousand on investment in
power facilities.
Figures are as of April 1, I96O.
Figures are shown on an estimated basis pending the taking of complete
physical inventories and the establishment of monetary property accounting records.
Includes $6,513 thousand advanced from a revolving fund which has been
established by appropriations.
Less than $500.
283,606
Footnotes to Table 3
1/
2/
Consists of:
Administrative expenses, foreign aid procurements;
construction services, public buildings; and working capital fund.
See Table 1, footnote 1,
2/
4/
*
Figures are as of April 2, I960.
Figures are as of December 31, 1959, the latest available.
Less than $500.
Footnotes to Table 4
1/
2/
^
4/
5/
6/
2/
8/
2/
Represents assets and liabilities of the United Statee Civil Service
Commission exclusive of trust and revolving funds,
Represents the Cooley loan program established pursuant to the act approved August 13, 1957 (Public Uw 85-128).
See Table 1, footnote 1.
Foreign currency assets are included throughout the table. See Table
1, footnote 2.
Represents appropriations for salaries and expenses.
See Table 2, footnote 3.
Represents assets and liabilities of the General Services Administration exclusive of trust and revolving funds, and strategic and critical
materials.
Includes veaaela owned and under construction.
Represents allowance for losses from scrapping of obsolete vessels.
10/
11/
u/
Includes stock of the International Bank for Reconstruction and Development amounting to $635,000 thousand; and subscriptions to the International Monetary Fund, The International Finance Corporation, and the
Inter-American Development Bank amounting to 1^,125,000 thousand,
$35,168 thousand, and $4^50 thousand, respectively.
Includes $801,l/,6 thousand due under the agreement with Germany
February 27, 1953, and lend-lease and surplus property balances due
the United States in the principal amount of $1,671,861 thousand.
Includes loan to the United Kingdom amounting to $3,367,jU6- thousand
outstanding.
Represents Interest on invested capital.
Represents funds returned to the United States Treasury from sale of
capital assets.
Less than $500,
Footnotes to Table 6
2/
2/
2/
Consists of trust revolving funds that are submitting statements on a
quarterly basis and certain trust revolving funds that are submitting
statements on a semiannual and annual basis at the present time.
See Table 1, footnote 1.
Includes unrealized purchase discounts amounting to $96,377 thousand.
V'
5/
6/
•
Figures are as of June 30, 1959, the latest a
Figures are as of December 31, 1959, the late,
Represents transfers from States,
Less than $500.
.
Treasury Bulletin
log
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYFE ACTIVITIES-
Footnotes to Table 8
Table 8 relates to all loan programs of Government agenciea.
It includes not only the United States dollar and foreign currency loans
summarized separately in Table "7, but also the loans made, all in
United States dollars, by deposit funds (Table 5) and trust revolving
funds (Table 6).
2/ Includes guaranteed loans held by lending agencies,
2/ The major portion of the loans of the Veterans' Administration loan
guaranty program is included under "Mortgage loans" through 1955 end
under "Other" to aid home owners thereafter.
Figures representing loans made by the International Cooperation Administration prior to 1952 are not available at this time.
Includes guaranteed loans held by lending agencies through March 31,
1959, and the loan to the United Kingdom.
6/ Reports on maritime activities were not received by the United States
Treasury Department during the period from March 31, 19^7, through
March 31. 1953. Reorganization Plan No. 21, effective May 2A, 1950,
abolished the United States Maritime Conunission and transferred its
functions into the Department of Commerce.
2/ Reports have been received from the Commerce Department on maritime
activities for the fiscal year 1953 end thereafter, but no loans were
reported prior to December 31, 1955. Beginning with that date, certain mortgage notes ere classified as mortgage loans,
8/ Established in the Department of State by Executive Order No. 10610,
dated May 9, 1955, and effective at the close of business June 30>
1955, as successor to the Foreign Operations Administration, Data
for earlier periods ere for predecessor agencies.
2/ On September 29, 1953, pursuant to the act approved July 30, 1953 (15
U.S.C. 609), the Reconstruction Finance Corporation started liquidation of its activities, except those carried on by the Corporation
pursuant to Section ^09 of the Federal Civil Defense Act of 1950 (50
App. U.S.C. 2261) and expansion of defense production activities carried on pursuant to the Defense Production Act of 1950, as amended
(50 App. U.S.C. 2091-209^), which had been transferred to the Secretary of the Treasury as of September 28, 1953, and as of the close of
business on September 28, 1953, respectively. Effective at the close
of business June 30, 195-1, pursuant to Reorganization Plan No. 2 of
195i, certain functions and related assets of the Corporation were
transferred to the Export- Import Bank of Washington, the Federal
National Mortgage Association, and the Small Business Administration,
On July 1, 195^, the remaining activities of the Corporation were
transferred to the Secretary Of the Treasury to complete their liquidation, pursuant to the act of July 30, 1953, as amended June 29, 195^.
The Corporation was abolished effective at the close of business
June 30, 1957, by Reorganization Plan No. l,of 1957, and the remaining
functions of the Corporation were transferred to the Housing and Home
Finance Administrator, Administrator of General Services, Administrator of the Small Business Administration, and the Secretary of the
Treasury.
ID/ Totals include loans of Home Owners' Loan Corporation amounting to
$84.2 million as of June 30, 1950, end $9.6 million as of December 31,
1/
^
^
i
13/
14/
15/
16/
17/
1950.
11/
12/
Beginning 1956 notes receivable which had previously been classified
as loans ere classified as other assets end are not included in this
table.
Figure for June 30, 1950, consists of Aleske housing loans. Subsequent figures include also: beginning December 31, 1950, loans for
community facilities service (previously included under Public Works
18/
*
Administration), prefabricated housing loans (transferred from the
Reconstruction Tinance Corporation) and urban renewal loans authorized by the Housing Act of 1949, as amended (42 U.S.C. 1452 (a));
beginning December 31, 1951, college housing loans authorized by
the Housing Act of 1950, as amended (12 U.S.C. 1749); beginning
December 31, 1954, loans held by the revolving fund established
pursuant to the act approved June 24, 1954 (68 Stat. 295) for
liquidation of not only Alaska housing, community facilities service
and prefabricated housing loans already included but also loans under
the Farm Security Administration program, the public war housing program, and the veterans' re-use housing program, all three of which
previously were handled by the Public Housing Administration; as of
December 31, 1955, public works planning loans authorized by the
Housing Act of 1954 approved August 2, 1954 (40 U.S.C. 462); beginning
December 31, 1956, public facility loans authorized by the Housing
Amendments of 1955 approved August U, 1955 (42 U.S.C. 1491); and
from December 31, 1956, through June 30, 1957, community disposal
operations loans authorized by the Atomic Energy Community Act of
1955 approved August 4, 1955 (42 U.S.C. 2301 note) and Executive
Order No. 10657 of February U, 1956.
The Federal National Mortgage Association Charter Act approved August
2, 1954 (12 U.S.C. 1716), authorized the Association to carry on three
functions consisting of management and liquidating functions, secondary
Its activities
market operations, and special assistance fxinctions.
under these three functions began on November 1, 1954.
All figures in this column include the loans of the low-rent public
housing program fund (formerly known as the United States Housing Act
Also included are the homes conversion program as of June
program) .
30, 1950, the Farm Security Administration and public war housing
programs from June 30, 1950, through June 30, 1954, and the veterans'
re-use housing program from June 30, 1953 through June 30, 1954 (see
footnote 12)
Consists of the Farmers' Home Administration loan programs, the disaster loans, etc., revolving fund, the farm tenant mortgage insurance
fund, and the State rural rehabilitation funds beginning June 30, 1956.
Prior to June 30, 1956, the farm tenant mprtgage insurance fund was
included in the statement of financial condition of the loan programs.
Consists of the loan to the United Kingdom and other miscellaneous
loans, Federal civil defense loans beginning December 31, 1953, and
the loans of the Reconstruction Finance Corporation liquidation fxind
beginning December 31, 1957 (see footnote 9).
The major portion of the loans is held by the Inland Waterways Corporation; Department of the Interior - Puerto Rico Reconstruction
Administration through December 31, 1954, fisheries loan fund beginning June 30, 1957, and Indian loans; Deportment of the Army guaranteed loans (World War II) through December 31, 1957; the development loan fund beginning June 30, 1958; Office of Education - loans
to educational Institutions as of June 30, 1959; and agencies reporting loans pursuant to the Defense Production Act of 1950, as amended
(50 App. U.S.C. 2091), which consist of the Departments of the Army
beginning June 30, 1951, Navy beginning December 31» 1951, and Air
Force beginning June 30, 1956, and the General Services Administration
beginning September 30, 1959.
Beginning 1956 mortgage notes arid sales contracts which had previously
been classified as loans are classified as other assets and are not
included in this table.
Less than $50,000.
June I960
109
.CUMULATIVE TABtE OF CONTEOTS.
July 1950 through June 1060
Issue
Rapoz^lug baa^B
Treasury financing operations.
Suamary of Federal fiscal operations.
elpta and expenditures:
Receipts by principal sources
Detail of misocllaneouB reoelpts by major oategoriva
Expenditures by agencies
^..,
Summaiy of appropriations and authorizations, expenditures,
and balances, by agencies
Expenditures and balances by functions
Trust accovmt and other tranaactionsi
Sunmary of trust account and other transactions
Trust account receipts
Trust and deposit fund account expenditures
Net inrestment by Government agencies In public debt securities....
Net redeiq)tion or sale of obligations of (jarenment agencies in
the market
Federal Old-Age and SurvlTors Insurance Trust Fund
Federal Disability Insurance Trust Fund
Railroad Retirenent Account
Unemployment Trust Fund
National Service Life Insuranoe Fund
Investments of specified trust accounts in public debt securities,
by Issues (latest date Haroh 31, I960)
Cash income and outgo:
Suomaiy of Federal Govemaent cash transactions with the publio....
Summary of cash transactioi^s through Treasurer's account
Derivation of Federal receipts from the public, and reoonciliatlon
to cash deposits in Treasurer's account
Derivation of Federal payments to the publio, and reconoiliatl :>n
to cash vithdrawals from Treasurer's account
Intragovemmental transaotions
Accrued Interest and other noncash expenditures
Derivation of Federal net oash debt transactions with the public,
end re conciliation to transactions through Traasurer's account....
Account of the Treasurer of the Onited States
i
Status of the account of the Treasurer of the United States.
Analysis of changes in tax and loan account balances
Debt outstanding
SuoDiLaxy of Federal seciirities
Computed interest charge and rate on Federal securities
Interest-bearing public debt
Average length and maturity distribution of marketable
interest-bearing publio debt
Special issues to U. S. Govensnent investment accounts
Treas\iry holdings of securities issued by Govemaent agencies.
Statutory debt limitation
Public debt operations:
Maturity schedule of interest-bearing public marketable securities
other than regular weekly Treasury bills
Offerings of Treasury bills
New money financing through regular weekly Treasury bills
Offerings of public marketable securities other than regular
weekly Treasury bills
Allotments by Investor classes on subscriptions for public
marketable securities other than regular weekly Treasury bills....
Disposition of matured ^mblic marketable securities other than
regular weekly Treasury bills
37
(Continued on following page)
f»nri
page number
»
i
Treasury Bulletin
.CUMULATIVE TABLE OF CQNTEWTS,
July 1050 through June 1060
-
(Oontlnued)
Issue and page nuid>er
July
Aug .
S«pi .
Oct .
Mot
Mar.
United States ssrlngs bonds t
CumulatlTe sales and redeaptloDS by seriaa
Sales and redemptions by periods, all aeries oo^ixMd
Sales and redemptions by periods, Series E through %
Redemptions of matured snd unnatured bonds
Sales and redeiqjtions by denominationB, Series E and H ooabinsd.
Sales by States, Series E and H combined
Ownership of Federal seourltiesi
Distribution by olaases of InreBtore and types of issues
Net market purohases or sales for inrestnant accounts handled by
the TreaHuiy
Estimated ownership
Treasury surrey of ownership of Federal aecurltiesi
Ownership by banks, Insurance companies, and others
Ownership by comnerolal banks classified by neoberflhlp in Federal
Reserve System (latest date Deoember 31» 1959)
.
Market quotations
Ei^-of-month closing quotations on Treamuy Beonrltlea by iMosa*
Chart - Yields of Treasury securities
Average yields of long-term bonds;
Average yields of Treasuiy and corporate bonds by periods
Chart - Average yields of Treasury and corporate bonds
Intemsl pevenue collections t
Sumaaxy by principal sources
Chart - Internal revenue collections by principal aouroea
Detail of excise tax collections
Monetaiy statistics
Money in circulation
Mooetary stocks of gold and silver...
Cold assets and liabilities of the Treasuiy
Components of silver monetaxy stock
Selgniorsge
Increment from reduction in weight of gold dollar (latest date
March 31, I960)
Exchange StabUlgation Fund (latest date Deoember 31, 1959):
Balance sheet
Incone and expense
National bank reports:
Earnings, expenses, and dividends for cslendar years 1955-59
Capital mpvenents between the Dnited States and foreign oountrleBi
Suomaiy by periods since 1935
Summary by countries and periods
Short-term hanking liabilities to foz«igiiers, latest month
Short-term banking claims on foreigners, latest month
>.
Purchases and sales of long-tem securities by foreigners,
latest month
Short-ten liabilities and claims reported by nonflnanoial oonoema.
Long-term liabilities and claims reported by bsnks and bankers
Estimated gold and short-texv dollar rssouroes of foreign countries
and International Institutions
Foreign credit and debit balances in brokerage aocoimts
Shorvi-term lisbilities, countries and areas not regularly reported..
Purchases snd sales of long-tem securities by foreigners during
calendar year 1959
Corporations and certain other buslne ss-type aotivitlesi
Statements of financial condition (latest date March 31, I960)
Income and expense (latest date December 31, 1959)
Source and qyplicatlon of funds (latest date December 31, 1959)
M
Apr.
May
TREASURY DEPARTMENT
FISCAL SERVICE. BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON
25. D.C.
OFFICIAL BUSINESS
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AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
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@FedFRASER