Full text of Treasury Bulletin : March 1940
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>um*£ LIBRARY °^h% JUN 9 1 lg?2 1 REFERENCE To be used in Treasury Library BULLETIN OF THE TREASURY DEPARTMENT MARCH 1940 *W»27t9W Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics TREASURY DEPARTMENT OFFICE OF THE SECRETARY BULLETIN OF THE TREASURY DEPARTMENT MARCH 1940 Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics TREASURY DEPARTMENT OFFICE OF THE SECRETARY e Table of Contents Receipts and Expenditures Fleoal Years 1935- +0 Expenditures by Classes, Receipts by Sources Social Insurance Account Cash Income and Outgo 1 General Fund and Public Debt Composition of the General Fund Treasury Financing Operations Holdings of Government Obligations Net Market Transactions of Treasury Investment Aooounts Composition of the Public Debt Computed Interest and Yields on Publlo Debt Issues Government Corporations and Credit Agencies Assets, Liabilities and Proprietary Interest Sources and Uses of Funds Issues Outstanding 2 3-12 13-14 15 13 19 20-21 21 21 23 27 28-31 32 International Capital Movements Summary Tables, 1939 Summary Table, 1935-39 Short-term Foreign Assets and Liabilities Security Transactions and Brokerage Balances Transactions In D. S. Domestlo Securities Foreign Exchange Transactions 3**-35 3^ 38-39 40-41 42 44-45 Other Monetary Data Gold and Silver Foreign Exohange Miscellaneous Commodities Imported Under Quota Law Enforcement Statistics 47-50 51 53 51 *- FEDERAL RECEIPTS AND -l- EXPENDITURES Summary Table on Receipts, Expenditures and Public Debt (In militant of dollars - on bails of dally Treasury stateasnts, unravlsed.) • Monthly Receipts, Expenditures and Excess of Expenditures (In million* of dollars - on basis of dally Treasury statements, unrevised) Jan. l»b. Mar. Apr. May June July Receipts 19351936... 1937... 1938... 1939. 19"0. Expenditures 1935 1936 1937 1938 1939 19W Excess of expenditures 1935 1936 1937 1938 1939 19U0 203 228 2SU 335 308 315 211* 218 275 3U9 "17 m 1*88 531 538 5S8 53" 693 713 "89 613 528 662 66s 285 310 30" 199 385 398 317 271 338 179 21*5 22H 601 752 1,011 960 737 57" 6"" 815 752 879 -27 -108 -196 -208 1U2 228 231 363 273 268 21*6 U63 256 335 375 397 868 77" 613 596 858 6U8 I57 56" 569 7"5 557 "17 350 "37 229 19U 3"s 6U3 786 391* 370 518 529 279 29U 1*09 3" 308 Aug. Sept. Oct. Nov. Dec. Total BUDGET RECEIPTS. EXPENDITURES AND EXCESS OF EXPENDITURES January 1935 to Date DOLLARS" 1935 1936 1937 1938 1939 1940 "DOLLARS Millions 1.200 Millions Receipts 1.000 800 600 400 200 1111 JMMJ SN JMMJ SNJMMJ SNJMMJ SNJMMJ SNJMMJSN i 1 6A" i I I I i i I I i I Expenditures - General (In millions of dollars - on basis of dally Treasury statement, unrrvised) Fiscal year or month 1933. 193&. 1935. 1936. 1937. 1938. 1939. 1939-Peb. Mar. Total Departmental tration 807 8S 668 U80 53U 76U 856 97U 1.075 31*8 55 51 77 1*1* 91 356 1*29 505 1*56 635 % July. Aug.. Sept. 1*19 6U 1*2U 5" 59 Oct. Hot. Dee. 527 U51 629 eu 51 19UO-Jan. Feb. 528 2/ Teterans" Adminis- 3.283 2.681 3.225 3.399 6.297 U.661 5.328 Apr.. May.. June. 1/ national defense 87 90 95 52 1*25 559 763 507 556 576 580 582 552 Agricultural Ad- Public Works just aent 1/ program 118 15U 80 150 Civilian Conservatlon Corps 26 2U 17 120 10 13 IS 37 33 18 66 10 272 15 25 15 1 68 26 28 2U UU 36 22 15 18 151 22 3* 97 117 102 2U 23 23 68 12 190 15 119 128 23 22 38 19 2"* 325 290 61 22 U6 36 9U 1*6 33 98 106 73 X U5 U6 "5 1*8 108 112 119 "*5 63 59 6 l 56 127 12U 1*6 >*7 "*5 Uo 57 57 •5 "5 238 926 9U1 29 188 ja 5? 100 106 102 689 757 821 7U9 866 Other *?? 166 169 1UJ 172 157 712 533 362 787 45 Interest on the public debt 289 671 536 I Social Security and Ballroad E»tl resent Aots 1*1 38 31 8 16 lit Includes public buildings, public highways, rivers and harbors, Tennessee Valley Authority, Rural Xlectrlflcatlon and Reclamation Projects. Included under Recovery and Relief In these years. Expenditures - Recovery and Relief (In Billions of dollars - on basis of dally Treasury statements, unre vised) fiscal year or month Public works. Including work relief *P*i/ 385 2.763 3.369 3.UU1 3.073 2.238 3.105 1933- Other 38 1.8UU 1/ 2.31*8 1/ 985 1/ C) Aid to home owners i*U 1.26U 1.896 U9U 816 78U 7U1 1A72 31*2 6 2.2UO 606 2 25U 297 160 201 63 61 9 3 20 32 Apr.. May.. June. 266 262 252 173 61* 2 31 61 60 5 6 25 2 ? 16 July. Aug.. Sept. 220 321 170 106 60 51 55 Oct. Nov. Dec. 175 182 19U 113 112 12U ? 61 19140-Jan. 185 168 120 113 1*9 11 1*0 1U 193>». 19351936. 1937. 1938. 1939. 1939 -rob. Mar. Feb. 1/ 2/ 3/ \J • ( Agricultural Aid Total ) 53 Includes funds expended for Civilian Conservation Corps during these years. Includes $9U,000,000 restoration of capital Impairment of Commodity Credit Corporation. Prior to fiscal year 19l*0 figures Include National Touth Administration expenditures. Includes $119,599,918.05 restoration of capital Impairment of Commodity Credit Corporation. Less than $500,000. Indicates excess of credits, deduct. 78 1*9 1*8 215 298 n 170 2/ 50 y 303 182 s 36 w 7 198 11 125 Miscellaneous 9 9 8 9 11 8 2 C) 2 6 Expenditures Revolving Funds (Net), and Transfers to Trust Accounts, etc. - (In allllons of dollar! - on Basis of dally Treasury statement, unrevlsed) Revolving fond* (net) Jteoal year or month Total % 11 20U 121 92 1937 1938 1939 1939-Peh.. Mar.. 10 6 Apr.. Kay.. June. MU 222 13U 101 l.SlU 36s 607 685 26 5 387 503 11 50 68 50 50 (8) C) C) 6 121 71 71 s 8 55 55 (•) 9 £ 56 1 11 6 I. US *3 (i) Oct.. So v.. Dec.. 9 (i) (i) (i) U U 20>t ft 5 Teh.. Federal Old-Age and Ball road Survivors Retirement Insurance Account Trust fundi/ (IS) (13) o ID (I ) Total 150 1 11 5 Public Work. 7U 3U6 1U1 July. Aug., Sept. 19U<Wan.. ( Agricultural Aid Transfers to trust accounts, etc. o o 10 "3 50 (•) 53 53 5« U U 10 6 (5) • Less than $500,000. Indicates excess of eredlts, deduct. ) 1/ Inoludes transactions formerly classified as "Old-Age Reserve Account" U3 Ug Adjusted Service Certificate fund Government Advances to finployeee' Railroad Unemployment Retirement funds Insurance (U.S. share) Account 100 50 50 21 21 21 Ul '556 "*7 l>»7 73 107 75 18 22 18 7 15 10 10 10 10 10 (15) Collections of Internal Revenue (In thousands of dollar! - on basis of report i of collection*) February July 1 - February 29 19UO Income taxes: Corporation Current Back Individual Current 1939 13»05O 13,816 Back Sxcees-prcf Its • Total Income taxes Taxes on unjust enrichment...* Miscellaneous Internal revenue: Capital stock tax Estate tax Gift tax > Alcoholic beverage taxes: Distilled spirits (imported, excise) • Distilled spirits (domestic, excise) Distilled spirits rectification tax Vines, cordials, etc., (imported, excise) Vines, cordials, etc., (domestic, excise) ••... Brandy used for fortifying sweet vines Dealers in distilled spirits; rectifiers, manufacturers of stills (special taxes) Stamp for distilled spirits intended for export. ••••••• Case stamps for distilled spirits bottled in bond Container stamps Floor taxes Fermented malt liquors. ... Brewers; dealers in malt liquors (special taxes). Total alcoholic beverage taxes Tobacco taxes: Cigars (large) Cigars (small) Cigarettes (large) Cigarettes (small) Snuff Tobacco (chewing and smoking) Cigarette papers and tubes Leaf dealer penalties, etc Total tobacco taxes 11,863 12,676 Fiscal year I9U0 1*11,806 97 ,50l* Flsosl 584,148 97.658 37.057 6,386 637 24,10? 8,224 652 336.353 59.864 8.865 481,212 58.127 21,218 70.9U6 57.52"* 911*. 392 1,242,363 507 U38 5.228 4.319 26.573 1.850 164 19.976 2,086 131,502 233.865 7.545 126,538 219,188 6.730 1,384 1.515 18.U26 17,819 21.543 16,589 190.756 174,087 888 669 8.054 7.456 29 25 425 362 557 U26 4,814 4,101 35 68 22 69 880 4,402 393 4.634 1/ 86 719 1 16,107 37 Ui,i+5U S91 10 i/ 39.488 566 , 4.269 12 26 5SU 870 15.0SU 39 35.918 85U 10 ,1/ 35.345 536 l*,0l*2 l/ >*5.347 1*0,837 760 6,783 11 170,957 2,1*16 408,684 8,708 72 12 348,001 4,464 5.380 166,286 2.500 389.721 8,498 77 13 328,378 4,521 36.263 846 36. 318 1 1 398.367 378,686 880 Total documentary, etc. stamp taxes %] 2/ 1940 Miscellaneous internal revenue -> continued Manufacturers' excise taxes: lubricating oils »••• G&aollne Tires and inner tubes Automobile trucks • Other automobiles and motorcycles • Farts or accessories for automobiles Electrical energy Badlo sets, etc. (including tax on phonograph records repealed as of 7/l/38).. Mechanical refrigerators.. Firearms, shells, and oartrldges Pistols end revolvers Toilet preparations, etc., (including repealed 5* tax) Matches (including repealed taxes) Brewers' wort and malt (repealed as of 7/1/38). Articles made of fur (repealed as of 7/1/38). Sporting goods (repealed as of 7/1/38). Cameras and lenses (repealed as of 7/1/38). Chevlng gum (repealed as of 7/1/38). Total manufacturers 1 excise taxes Miscellaneous taxes: Bituminous Coal Act of 1937 Sugar Act of 1937 Telephone, telegraph, radio and cable facilities, leased wires, etc. Transportation of oil by pipe line Leases of safe-deposit boxes Admission to theaters, concerts, cabarets, etc. Club dues and initiation fees Adulterated and processed or renovated butter, mixed flour and filled cheese. Oleomargarine, Including special taxes • Narcotics, including marihuana and special taxes. Coconut and other vegetable oils processed Hatlonal Firearms Act..... All other, including repealed taxes not listed above 1,301 l.3>*3 11.948 13.159 i,oH3 U26 1.395 10.370 3.029 12.715 2.979 135 3.199 2,129 21.091 143,086 21.741 3.319 505 3,110 592 21.355 156,048 27.923 4,904 3.251 5.965 31,1*11 22,888 732 3.875 698 3.34U 6,444 27.737 5.171 25.988 633 1.001 404 417 4.383 5.52« 3.657 2.917 151 11 105 6 2.791 52 2,212 40 492 l6, 427 694 5.151 7.587 1/ 2 1 124 i/ 4 U 12 20 17 119 277 2 32 68 747 1/ 4 2 184 1/ 1 106 34.919 33.950 293.922 261,147 1*12 316 6,286 2.755 48,126 2,278 46,933 5.127 1.712 1,016 17,084 15.342 1.009 1.093 7,601 7.411 235 227 1.853 1.503 14, 060 13,382 677 631 3.932 3.941 1 1 15 16 91 83 1.459 1.634 14 15 299 263 2.375, 15.838 18,244 1/ U 5 2,044 1/ 1.33 1 * 1.309 134 250 112,641 111,008 166,276 149,686 1,612,008 1,522,227 87,861 72.315 441,974 388,891 41, 061 39.921 92.497 86,858 128.922 112.236 534,471 475.749 18,3bO 13.634 77.831 81,846 Total payroll taxes 147.282 1?5,870 612.302 557.595 Total interne] revenue.. 385,011 333.518 3.143.930 3.326.504 Payroll taxes: Social Security Taxes (Social Security Act)* Taxes with respect to employment (Federal Insurance Contributions Act)2/ Tax on employers of 8 or more (Federal Unemployment Tax Act) 3V Total Social Security Taxee 2.77 1* 2,636 18.392 3.218 Viseal year 1939 13.556 Total miscellaneous Internal revenue b.39 fiscal year 19U0 1939 13,182 Total miscellaneous taxes taxes: Bonds of indebtedness, issues of capital stock, deeds of conveyance, etc. Capital stock and similar Interest sales or transfers Playing cards Sliver bullion Bales or transfers Sale s of produce for future delivery (repealed as of 7/1/38) LeB9 than $500. ?ormerly Title VIII. Formerly Title IX. July 1 - February 29 year 1939 Documentary, etc., stamp l/ February Sources of Revenue Source e of Revenue 25,482 Carriers' Taxing Act of 1937 ' Collections of Internal Revenue (In thousands of dollars - on basis of report* of collections) Payroll Taxes Income and Profits fiscal year or month Social Security Act 2/ Total Individual 1929 19J0 2.939.05" 3.040.146 .331.27'' 1931 1932 1933 193* 1935 2.428.229 1.557.729 1.619.83S 2,672.239 3.299.436 1.860.04o 1.056,757 766,791 819. 656 1.105,791 1936 1937 1938 1939 3,520,208 •.653.195 5.658.76; .765 1,1(27.1(1(8 67U.U16 2.173.769 2.622,813 l.09l.7>(l 5.161,.57ft 2.178,1(31 691! fell 1(98, U7I4 1939-Peb., Max. .WO, 259 57.5* 833, 6U8 1.026,393 629.566 396.216 352.574 619,509 527.113 1,286.312 1.028.83U 32.333 291.215 25.191 207,259 24.328 24.765 190,200 93. 044 32.381 23.019 180,121 353.868 July, Aug., Sept, 300,091 397.U21 624.254 (3.699 33.696 331.298 11,318 10,477 151.177 Oct., Sot., Sec. 292,241 339,615 498,993 318, 845 19Uo-Jan. 1W>., 36,122 3U.298 306,3* (5,689 70.9U6 385,011 58.119 90,267 IOI.167 125,870 3.855 74,571 37.6?** 2.1(10 1.7&7 69.68U 5.5"*2 16.252 62.529 73.682 2,6oU 6,Uoi 663 1.613 12,961 12,985 5.098 6.052 17.81(0 1*91 9, 1*1*3 7>(0.l(29 72.756 66,11*1 97. 12,308 73,555 2.376 W7 20.57>» 3* 181,501 68,578 113.177 11,110 61,882 87,280 2.723 20,561 43.443 25.128 27.503 S9,6l(l( 147,282 60.157 87,861 8,172 27.950 Total Capital stock Istate and (ift Alcoholic bevsragec Stamp Manufacturers excites 1 Miscellaneous 607.780 629.887 61.897 64,770 12.777 11.695 434.445 450.339 64.173 77.729 166 344 34,322 25,010 1931. 193219331934. 1935- 568,189 500,972 80,168 91,508 10,432 8,704 43,174 258.911 411.022 444,277 398.579 402,739 425.169 459.179 46.954 32.241 57.578 66.58O *3.133 1J8 873,01*8 1,1*81,160 1.667.1*23 48,078 47,422 34.310 113,138 212,112 18,310 14,026 87,496 147.156 108. 194 1936. 1937. 1938. 1939. 2.021,075 2.207.608 2.287.075 2,256,031 9U.9U3 137.499 139. 3U9 127.203 378,840 305.548 416,874 360.715 505,464 594.245 567.979 587.800 501,166 552,254 568,182 580.159 68,990 69,919 46.233 41,083 1U9.685 188,771 16U 213 22.062 42,461 35.918 47.356 40,837 49,321 Apr.. May.. June. 170, 1*1*1* 176,891* 141 180 131 33.626 22.533 36.177 46,277 49,464 54,982 July. Aug.. Sept. 183,111 265,886 280,095 1.937 74. 52"* 52,041 24,767 29.U71 56.15X 51.655 53,113 56.519 Oct. Hot. Dec. 186,987 191,510 168,030 1.984 367 241 29,185 25.525 21.320 56.363 61,020 51.197 49 !976 1940-Jan. Feb. 170.113 166,276 229 177 26,566 28,423 2:§ 1939-leb. Mar. 1/ 2/ 2/ 197.695 1.515 1.51*8 20,167 7.S9W 1*93 28.U2U 1*1,061 Onjuet enrichment 1,063 18,360 Agricultural adjustment 371.423 526.222 92.132 98.289 131.704 162,180 3.198 3.126 £?8 13.556 12.178 438 301 42.539 53.106 56.506 2.962 3.070 2,716 31.750 35.251 3U.627 13,149 13,290 12.556 566 666 831 48.629 56. 980 51,128 2, 602 3.191* 40.038 34,440 44,548 13.483 14,097 16.511 527 592 553 43,702 4,584 3,127 2,921 28.635 34,196 36,018 13,149 17.299 12.631 55* 630 1,008 49.519 45.3^7 3,020 2.774 41.128 3^.919 12,288 13,182 858 507 3,261 13.605 -302 5.730 449,854 416,754 396.891 379.5*10 109, 1*27 2/ 1929. 1930. 247.751 390.038 342.275 11*9.1*76 5.11*8 Miscellaneous Internal Revenue fiscal year or month US 287 207.339 502.917 529.835 13.72l( 137. Carrier! Taxing Act of 1937 578.678 U8 265.745 7>(2. 660 14.964 19.6U7 163,668 Unemployment Tax Act WO.1U7 753.032 1,082,028 1.336.501 1. 149. 597 279.986 ,292 y 1.235.733 1, 263.414 1(27.191 Insurance Contributions act Total 1,095.541 1.1U6.6U5 Apr., May., June 8:,432 Corporation 71.637 6.073 6,a7 6.683 Including excess-profits tax collections. For the period prior to September 1939 the data In the columns entitled "Insurance Contributions Act" and "Unemployment Tax Act" represent collections under Titles Till and IX, respectively, of the Social Security Act. Including tax collections under the Sugar Act of 1937 and under the dividends tax Imposed by the Act of June l6, 1933* s s it *> So I- o < « LJ D Z > UJ C <o < z LlI Z , 10 Customs Duties and Taxes Estimated, and Value of Dutiable and Taxable Imports, by Tariff Schedules (Is thousands of dollar,) 1/ CUemlcalfl, Calendar year or month oils, and paints Duties and taxes 1938 1939 ?eb Mar Apr Kay 2,156 2.096 45.506 46,218 24,408 23.927 51,058 56.418 34,498 34,206 *39 841 1,411 1,620 1.90S 1,696 1.613 1,804 1S1 162 209 1.931 1,841 2,246 5.869 4.916 5.709 2.021 1.974 2.479 847 710 936 968 l.37"» 760 890 826 986 871 2,652 1,780 1.720 1.748 1.998 2.635 202 169 188 784 1,524 3.201 2,220 2.476 3.504 4.778 5.313 8.346 5.236 4,594 3.889 2.471 2.488 2.302 1.834 2,045 5.302 830 771 744 2.943 2.533 2.629 2,047 186 177 160 Sept 1.052 1.278 1.374 Oct 1.715 Not 1,91*2 Deo 19U0-Jan Value: 1938 1939 1939-Jan 7eb 1.573 1,289 51.958 56,586 i*,io6 i*,398 Mar Apr May >*.270 June 4.123 July 3.728 3.833 3.822 5.151 8.153 Aug Sept Oct 4.656 5.661 4.686 Not Sec 1940-Jan 4, Duties and taxes: 1938 1939 1939-Jan »eb Mar Apr May June July Aug Sept Oot Not Sec 1940-Jan Value: 1938 1939 1939-Jan ?eb Mar Apr May June July Aug Sept Oct U2 Wool and manufactures of Oalendar year or month • 18. 531 33.624 2.729 2,142 2. 860 2,118 2.368 2.397 2.508 2,662 3.569 2,888 909 1.078 836 799 5.5"*5 5.151 3.585 4,886 95.486 1.592 1.651 2.231 3.100 1.95? 2,054 6.733 6,029 6,712 9,440 2,192 3.627 6,542 35.803 35.999 2.725 2.669 3,128 1.310 1.J02 1,411 5.155 5.787 7.711 2.167 3.817 3.289 15.55»> 6|o44 1.951 2,226 1.959 2.035 2.493 2,118 1.992 6,217 6,747 9.189 9.626 8,280 8,417 7.351 1,266 1.347 1,414 2,244 1.705 1.333 1.263 9.634 11.339 15,348 3.005 3.583 3.012 12,251 12.939 15,100 7.217 3.284 12.707 6.606 3.175 17.585 16,965 11.793 15,342 Silk manufactures 3.327 2.776 216 196 245 217 220 220 182 321 241 Manufactures of rayon or other synthetic textile 2.275 3.090 232 226 276 244 232 273 232 238 27.418 49.271 6.I85 5,286 6,041 10,210 4.239 3.388 4.140 411 692 734 468 8.737 4.305 1.149 1.093 1.427 238 249 Dec 2:52 13.503 17.002 3.969 5.842 1940-Jan 117 4,978 2,024 7.071 3.079 1 68,172 89,728 24.693 25.369 3.M3 3.032 3.366 3.423 3.654 4.102 5.120 157 163 l4o 2J462 2,122 1,918 2.33 * 1.957 2, 06l 2.107 1.413 1.919 147,656 173.808 262 190 238 316 370 293 3,806 S.966 6.035 Not Cotton manufactures 21,49s 25.749 June July Aug Spirits, vines and other beverages 11,049 10,794 646 688 929 19,1(17 19.631* 1939-Jan Sugar, larths. Hood and Tobacco and Agricultural Metals and molasses, and manufactures products and sarthsnware manufactures manufacture, manufacture a provisions and glassware of of of of 2/ 90,5>*3 3.2"*5 2,184 3.196 15.932 13.261 15.481 14,912 12,035 3.383 3.306 4,603 2.215 59.460 59.076 3.487 3.418 U.376 ".572 U.365 4,088 3.277 3,608 9.277 5.714 5.396 7.497 3.692 790 801 804 860 899 lax, hemp. Jute, and manufactures of 11 Estimated Receipts from Taxes Imposed by Various Revenue Acts on Imports into the United States 1940 1939 Calendar year Article 1938 Aug. July June May Apr. Mar. 1959 Not. Oct. Sept. Jan. Dec. Duty-free articles l/i Crude petroleum. $4,714,293 $5,84o,624 $380,726 1210,908 $297,665 $50U,108 $747,024 $688,585 $531,266 $501.75* $561,192 $501,327 $557,120 11*5,922 95.381 121,890 175. 6Ug 1U1.622 156.573 111.578 102,1*82 108,81*3 182.5U5 16U, 832 376 3 38 3.255 1.750 3?* 600 l."*3 l.>*55 1.672 82 659 fuel oil, etc 1.632.662 2/ Oasollne or other motor fuel Lubricating oil. Paraffin and other petroleum wax products. .. 1.570.550 4.475 3.683 11.172 9.531 1.463 1 9 776 606 627 383.51"* 17.931 13.972 1*7,622 27,228 23.71*5 28,21*3 37.63U 52.090 Seed oils 1.533.318 2.332.836 231.396 119,1*39 176,382 190,81*2 11*6.799 256,51*1* 253.957 258,91*3 Oil seeds 283,1)05 399,021* 36.531 1*2,130 27.225 33.278 38,1*25 28,950 23.523 17,065 Animal, fish and coconut oils... 281*. 59.599 187,231 200,189 29.079 39.0U1* 56.797 608 80 ito 15 82 67 211 7gi 59.M3 72.278 85.793 3i*,2i*0 36.688 17.930 70.768 89.946 38,21*1* 2lU 184.820 16.013 12.775 13.275 1U.105 17.270 17.951* 14,421 31.035 23. 121* 8,61*2 2,688 2,381 1*1*1 562 2.238 166 9.397.370 11,1*12,906 814.587 $3,653,275 »3. 731.081 8228.711* $136,018 $253,585 $370,204 $396,050 $435,529 $757,843 $152,795 $172,782 47,247 96,210 143.728 135,286 3"*.708 55.168 59,481 42.155 50,682 14,012 11.805 7.516 2,106 2.505 2,060 923 290 409 1.330 773.288 678.352 61*, Lumber of specified types H5.568 Coal and related fuels.. 0.815 Dutiable articles 44,130 811 197 7U7 Copper Total 1*0,035 171*, 850.217 1.206.91U l.a6,656 935.959 1.027.932 1,021.721 1.035,180 1.024,750 16.589 875. 32** 711.746 3_/> Cane sugar • Cane sugar C from Philippine Is.) Beet sugar • 631.390 722. 3>»5 6.566 S 76,321 87.858 $744,726 $119, 37>* 6 Articles composed In chief value of manufactured sugar Fuel oil, etc. 2/ 2.663 1.822 Lubricating oil. Paraffin and other petroleum wax product e. .. 2.641 5.170 19.373 20,786 16.682 36 565 22 24 8 66 153 Seed oils Animal and fish oils Palm oil Coconut oil (from Philippine Islands). 3,062 292 25 50 11 21.119 222 62 37 269.733 17.399 22,1*19 15,500 15.384 1.355 1,816 1,386 42 44 17 41 25 11 19.865 19 406 3 191 10 15.441 22.486 14,324 15.989 16.585 21.854 42,461 1.771 1,008 1.500 850 1,610 1.294 1.037 21.995 604 546 16 579.21*1 Coconut oil 8.525 761 1.357 >*5 957 1.564 1.009 802 585 874 9.1*56 547 923 1.095 419 U56 873 1.242 512 708 1.573 393 10,512 10,181 • 151, U27 11*3,017 13.566 21.619 13.128 3,432 7,350 16.479 7.842 9.797 12,840 Lumber of specified types 1*58.91(2 1*65.917 54.988 52.867 32.955 38.243 29.940 29.927 33.531 60,207 47,81*9 28,524 5.557.315 5,1*76,623 367.487 336.411 464.111 575.939 532.864 575.7* 895.250 291,228 311.839 195,912 Copper Total Grand total Note: 1/ 2/ 2/ 14.954,686 16,889.529 1,182.074 1.186,628 1,671,025 1.792.595 1,468.823 1.603,656 1.916.971 1,326,413 1.336.587 1.693.335 907.658 Rates of tax for the respective articles are shown in the September Bulletin, page 11. The total of the taxes herein corresponds to the total of the column headed "Tree List" In the preceding table. Fuel oil and gas oil derived from petroleum, and all liquid derivatives of crude petroleum except lubricating oil and gasoline or other motor fuel. The total of the taxes herein corresponds to the total of the taxes on copper and sugar in the Miscellaneous column In the preceding table, plue all taxes included in appropriate tariff schedules. 13 Computed Duties Collected, by Countries (Id thousand! of dollars) Country u 8 6 8 3 J 3 13 Receipts and Expenditures under Social Security Act (In nllllons of dollars - on basis of dally Treasury statements, unrevised) Expenditures Receipts Tax on Employers of taxes (Title Till) 8 or more, (Title IX, Sec. 901) finployment 71 seal year or month 1936 1937 1938 1939 191*. 3 511*. I* 530. Total receipts Administrative expenses States 26.9 157.8 229.6 631.2 58-9 261.1* 1.8 1.7 2.6 2.2 21.6 19.3 2>».2 li 26.0 26.1 5.3 102.2 2.2 52.1 1.7 Apr.. May.. June. 27.1 109.1 3-3 2.8 9-1 29.9 118.2 U.O 1.8 1.8 1.8 July. Aug.. Sept. 32-7 106.6 2-5 2.7 8.1 ^•\ ill*. .5 3.0 1.7 1.9 1.9 Oct.. Hov.. 2.9 8.0 3<*.U .9 125.5 *.7 1.8 Dec. 31.U 117.5 U.l 19lKWaa.. 31.1 Tel).. 115.2 13.7 57.0 1.8 2.0 1.8 1*1*. 172.2 • Refunds of taxes 2/ to 9 9-1 Mar.. •5 Total grants tance, etc. 1*1.9 60U.lt 7 Old-age assis- .6 15. 252.2 • Unemployment compensation administration 20.0 21.3 57-8 90.1 100.9 15U.U 3.9 1939-fev. Transfers Grants to States 27-8 166.9 271-5 320-3 to Old-Age Total and Survi- expendivors' Insurtures ance Trust fund 28.1* 265.O 387-0 503.O 1*1*8.1 21.5 50.0 50.0 76.0 73-2 35.0 30.5 15.6 55.0 50.0 56.0 91.8 10.3 .1 .1 .1 1*3. 7.U 2.3 32.5 26.3 15.3 Ul.3 33.7 17.6 86.1 83.8 62.6 11.1 1.0 1.2 32.6 21.0 16.6 1*3.7 .1 U3 .0 22.1 17.8 .2 .2 1*3.0 38.9 36.0 .2 15 33.3 31.1 S g .1* 1*0.6 1.7 719.1 8U6. 82. 73.5 U8.0 1*3.0 87.7 67.1 67.8 U8.0 Ul.l 37.9 .1 Federal Old-Age and Survivors Insurance Trust Fund (Is mllllom of dollare - on bail, of dally Treasury statements, Expenditures Receipts Cumulative as of end of fiscal year or month 1936 1937 1938 1939 Appropriation! by Congress Transfers from general fund 265.0 652.0 1,155.0 Balance available for transfers 113.0 Total unrevised) Balance Unexpended Interest Investments Total receipts Benefit payments Investments To credit of To credit of Tund Account disbursing officers 2/ 265.0 765.O 1.155-0 2-3 17.7 1.705.0 1,705.0 1,705.0 Hi*. 6 267.3 782.7 1.199.6 HH.6 HH.6 lj'tg.s 1.7H9.6 1.7U9.6 1*. 6 19.3 267.2 777-2 1.180. 267.1 662.3 1.177.2 20.7 22.0 22.7 1.728.9 1.727.6 1.726.9 1,220.2 1.263.2 1,306.2 Ul6.1 n 5->* .1 .1 113.0 .1 1-9 3.0 7.1 1.6 1939-July. Aug.. Sept. 1,198.0 1,289.0 507.0 &59.0 416.0 Oct.. Hov.. Sen.. 1.332.0 1.375.0 1.423.0 373.0 330.0 282.0 1.705.0 1.705.0 1,705.0 HU.6 HH.6 UU.6 1.7U9.6 1.7H9.6 1.7H9.6 23.6 2U.U 25.2 1,726.0 1.725-2 1.72U.H 1.3H9.2 1.392.2 1.H35-2 373.1 330.1 282.1 3.8 2.9 7.1 1940-Jan.. Feb.. 1.1*23.0 1.1*23.0 282.0 282.0 1.705.0 1,705.0 HH.6 HH.6 1.7U9.6 I.7H9.6 25.9 26.9 1.723.7 1.722.7 1.H35.2 282.1 282.1 6.H 1.21*6.0 Unemployment Trust Fund (In Billions of dollars - on basis of dally Treasury statements, unrevlsed) Cumulative ae of end of fiscal year or month 1,1*35.2 S 5- 1* u , 14 Receipts and Expenditures Under Railroad Retirement and Railroad Unemployment Insurance Acts (In million! of dollars - on basis of dally Trsasoxy statements, unrovlsed) Sxpeadituree Reeelpte fiscal year or month 1936 1937 1938 1939 Taxee upon earrlere and their employee* administrative expenses Transfers to Ballroad Betlrement aect. Tranefera to Ballroad Unemployment Insurance account .3 3 • 1.5 149.0 .4 1939-»»».. Mar.. Apr., Kay.. June, 150.1 109.3 2.6 3.3 146.4 107.1 27.5 .3 .3 18.0 18.J .1 :l .4 .3 21.9 18.1 Sept. 23.7 Oct.. Hot., 1.2 4.2 24.5 Dec, .4 5.U .6 7.1 .7 5 1.3 10.0 10.0 10.0 5 .5 10.0 10.0 • • Railroad Retirement Account (In millions of dollars - on oasis of daily Treasury statements, unrerlsed) Oumulatlve as of end of fiscal year or month 110. .U 6.1 21.1 July, Aug., 19U0-Jan. Ten., Total expenditures 15.0 37.W 18.7 7.7 10.7 10.5 U.J 15.0* 4. 5 » 10.5 15 Cash Income and Outgo of the Treasury (These figures are not intended to reflect the budgetary position of the Government They will not agree with budgetary figures on receipts, expenditures and deficit such as those appearing in Dally Treasury Statements and in other tables in this Bulletin. For an explanation of the revisions made in Dally Treasury Statement figures to arrive at this cash series. Bee the text in Feb. 1939 Bulletin. All figures in the table at the bottom of the page have now been revised in accordance with that explanation.) . (In millions of dollars) CASH INCOME AND OUTGO AND NET CASH OUTGO January 1935 to Date 1936 1935 DOLLARS" 1937 1938 1939 1940 DOLLARS Mi Millions II iont 1.200 1,200 Cash Income 1.000 1,000 800 800 600 600 400 400 200 200 '''' II JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN II 1,600 1.400 I. ZOO 1.000 800 600 400 2 00 1.000 TREASURY GENERAL FUND -17- AND PUBLIC DEBT . 18 Composition of General Fund (In millions of dollara - on baele of dally Treasury stateaenta, uiM»l>td] Ourrent assets Balance End of fiscal year or month Total •Working" balance Seigniorage Increment on gold 1933 1936 1935 1936 1937 1938 1939 862 2.582 l.gUl 2,682 2.551* 2.216 2,838 1.001 2.225 970 1,628 2. l60 lUO 316 1939-»«».Mar.. 3.313 3.389 2.693 2,732 508 515 Apr.. May.. June. 3,011 2.92U 2,838 2,380 2,251 2,l60 522 528 536 July. Aug.. Sept. 2,¥*7 2,231 2.178 1,761 1.539 1,181 5UU 550 112 551 113 Oct.. Hot.. See.. 1.913 2,165 2.176 1.213 1.162 1,768 558 561 565 ll*2 19U0-Jan. Feb., 2,282 2.350 1.571 1.631 568 573 536 Total Bullion. coin and currency 1,103 3.033 2.016 2.936 2.709 2.119 3.087 Deposits In Fad. Reserve Banks 181 51 1,01*5 97 118 862 Spaolal deall other poelte a/o depoelte •ales of and colOor't. Saca. laetlona 31 37 55 58 837 .851 799 Current llabllltlaa 2U1 151 1.016 865 1,863 830 1,212 11*1 '6i9 929 1,022 611 777 % 76 3.517 3.635 1.351 1.313 1,222 1.388 873 171 866 68 68 3.230 3,106 3.087 1.329 1.272 1,212 975 971 1,022 858 792 777 68 71 76 186 182 2,800 2.576 2.331 1,015 986 879 928 718 586 771 761 758 86 81 111 156 H3 2.077 2.350 2.666 890 1,007 I.050 « 673 756 755 825 113 117 119 16U 185 190 11*3 2,1*63 2.513 1,007 1,028 517 589 816 815 123 111 181 113 700 111 111 112 112 3f Inactive gold 1,087 11*2 ll»2 1U2 ll*2 ll*2 11*2 ll*2 25U 156 203 2l*9 21*6 2>*9 19l» Statement of the Outstanding Public Debt on June 30, 1930 and Feb. 29, 1940 (In mllliont of dollara - on baaie of dally Treasury statements, unrevised) June 30, 1939 Market laauea, eto: Pre-war bond s Treasury bonde U. S. Savings bonde Adjusted Service bonds Treasury notes Treasury bills Matured debt on which Interest has ceased Debt bearing no interest... Total Market issues, etc. 196 25,218 1,868 283 7. 213 1,308 Tab. 29. 19IO 196 26,897 2,610 269 6,203 1,308 June 30, 1939 Increaae(+) Deere ase(-) +1.679 + 7U2 11 -i.oio Special Issues; Government Life Insurance fund Old-Age Reserve Account Railroad Retirement Account.. Government retirement funds.. Adjusted Service Certificate Pond 111 132 391 10 17 36.669 38.009 +1.3U0 ll*2 • Unemployment Trust Fund Postal Savings System federal Deposit Insurance Corporation Total Special issues Total Public Debt Accounts (In millions of dollara - on basis of daily Treasury statements, unrevlsed) Fiscal year or month Feb. 29, 1910 Increase (+) Dec re ate (-) 537 1.177 501* 33 1.635 67 77 173 515 258 10 72 20 1,267 128 1.61*0 12 8 72 5« 3.770 1.356 586 1*0,1*39 12.365 1.926 101 30 19 Statement Showing Details of Major Financing Operations of the Treasury for Fiscal Years 1938, 1939 and 1940 (Id millions of dollars) Date of Iaaue 6 30 Principal Classes of Holders of Direct and Guaranteed Government Obligations and the Estimated Amounts of Their Holdings, June 30, 1037, 1038 and 1030 in aunt (In billion, of dollar.) 1937 1938 5/ Percent of total outstanding 1938 5/ 1937 1939 1939 Direct obligations Operettas insured commercial banks. Mutual savings banks Other commercial and private banks. U.9 11.2 U.9 33 31 2.1 2.U 2.7 6 7 7 5 .6 2 1 1 14.1 15.2 iti 39 3« 8.6 8.8 24 23 22 5-2 12 12 13 1.7 5 5 4 5 1 1 1 .6 Subtotal, all commercial and savings banks. Individuals 1/ li*. 8.8 .. U.3 M •••••••.••••••••••• 1.7 1.7 .U .1* 2-5 2.6 2.6 7 7 3-2 4.4 5.6 9 12 7 14 3 •3 3 1 1 1 36.6 39-9 100 100 2.1 a.4 3-1 44 49 3 .3 .4 6 6 7 .1 1 1 2 56 65 Insurance companies Other corporations • 30 • Tax-exempt organl tatlons 2/ Tederal Beeerve banks .•.••••....••.. Tederal ageaoles and trust funds State and local government investment funds. Total amount outstanding. • 35- • • Ouaranteed obligations 37 Operating Insured commercial banks. Mutual Darings bank* • y Other commercial and private banks. Subtotal, all commercial and savings banks. y 2.4 2.T 3.6 56 .9 .8 • 7 19 17 13 Insurance companies •7 .7 .6 15 15 U Other corporations .2 .2 .2 4 4 4 Tax-exempt organisations g/ .1 .1 .1 2 2 2 Tederal agenoies and trust funds. .4 •3 .3 9 6 5 U.7 t.s 5-5 100 14.0 13.6 15.0 35 33 33 2.»t 2.7 3.1 6 7 7 5 7 1 1 16.8 18.8 42 41 41 Indlvi duals .••••• Total amount outstanding. 100 Direct and Ouaranteed 37 Obligations Operating Insured commercial banks. Mutual savings banks Other commercial and private banks. .6 Subtotal, all commercial and savings banks. Individuals 1/ Insurance companies • • ,,.. Other corporations Tax-exempt organisations £/ 9.7 9 A 9.5 24 23 21 5.0 5.2 5.« 12 12 13 1.9 1.9 1.9 5 5 4 5 .6 1 1 1 • 5 • Tederal Beserve banks 2.5 2.6 2.6 6 6 6 Tederal agenclee and trust funds 3.6 U.7 5-9 9 11 13 3 1 1 1 U5.U 100 State and local government investment funds. Total amount outstanding. • 3 "40.5 • 3 41.4 which are estimated at lest than $100 millions in that* yeari. Other than mutual lavlngt banks and iniurance companies exempt from Federal income tax. Ixoluelve of obligations sold directly to the Treasury. Under $50 millions. Bevised as compared vlth previously published figures. Include foreign holding! 5/ 1 17.0 • , • 100 31 Holdings of Direct and Guaranteed Interest-Bearing Obligations of the United States Government (In millions of dollars) Ind of fiscal year or month 22 . 23 Amount of Interest-bearing Debt Outstanding, the Computed Annual Interest Charge and the Computed Rate of Interest 2nd of fiscal year or month Computed annual Interest charge Interest-bearing debt Computed rate of Interest; Percent 39.gg5.969.732 *7U2 175.955 SU2, 301.133 750, 677. 802 838 O02.053 92U, 3U7.0g9 9U7 06U.058 1.036, 937.397 1939-reb.. Mar.. 39.325.527.811 39,UU2,07 *.957 1.017, 225, 0U2 1.026, 757.937 2.587* 2.603* Apr.. May.. June. 39.525.'»07.813 1.029, 353.995 1.035, 271.505 1.036, 937.397 2.6oU* 2.6oU* 2.600* 1.0UU, 251,926 1.050, 8UU.30O 1.051, gl7.UgU 2.603* 2.604* 2.607* Uo.go6, U1.UU5, 1.05U, 365.376 l,05g, U87.906 1.076, 615,135 2.602* 2.59U* 2.598* Ui,6oi, 096. 7U1 u 1.839, U78.210 1.08U, 97 1'.7 *3 1.091, 3U2.623 2.6o8» 2.60g* 1933 $22,157.61(3,120 193>t 26.U8O.hg7.920 27.6U5.229.g26 32.755.631.770 35.g02,5g6.915 1935 1936 1937 1938 1939 36. 575. 925. 880 1 39.751.011.399 39. 885.969. 732 July. Aug.. Sept. Uo, 113, 701. 72U "10.351, Oct.. Not.. 'to. Dec. 19U0-Jan.. Feb.. Note: 3Ug,U87 U0.3U1, 909.035 526, lU7,g36 3-350 3. 181 2.716 2-559 2.582 2.589' 2.600' 1 "Interest-Bearing Debt" figures Include discount on Treasury Bills, amount being deducted prior to calculating the average Interest rate On basis of dally Treasury statements, unrevlsed. For basis of other figures see report of Secretary of the Treasury for 1937 P=«e UU2. Comparison of Average Yields of Long-term United States Treasury Bonds and High-grade Corporate Bonds Treasury bonds 1/ Oorporate bonds 2/ Spread between Treasury and Corporate bonds Monthly averages of dally figures: Treasury bonds 1/ 1939-June 2.96 2.90 2.87 .U6 Apr May June 2.30 2.17 2.13 2.92 2.86 2.78 .62 .69 .65 July Aug Sept 2.16 2.21 2.65 2.76 2.79 3-29 .60 .58 .6U Oct 2. 60 •ft J: Dec 2.U6 2-35 3.1U 2.93 2.86 51 23. 30. 19Uo-Jan Feb 2.30 2.32 2.81 2.79 .51 •U7 Nov -U9 • • Feb. U 11 lg 25 1. g. 15. 22. Mar. 1. 8. 1522. 29- 7 1U 21 28 53 Weekly, Wednesday closing prices ^/: 1939-Jan. July 5. 12. 19. 26. Aug. 2. Sept. 6. 13. 20. 27. Oct. 2. US 2.U7 2.U5 2.Ug 3.01 2.96 2.95 2.95 2.U5 2.UU 2.U3 2.U3 2.9U 2.91 2.89 2.89 u. 11. 18. 25- $ Nov. .U6 .U6 2.39 2.36 2.33 2.35 2.30 2.86 2.86 2.87 2.gg 2.90 .U7 .50 • 5" • 53 .60 2.30 2.32 2.29 2.27 2.92 2.92 2.91 2.91 .62 .60 .62 .6U 2.25 2.16 2.1U 2.13 2.13 2.91 2.g7 2.gU 2.g3 2.83 .66 1. 8. •H9 •U7 15. 22. 29- Dee 6. 13. 20. 27- 19U0-Jan, 3- 10. Apr. 5. 12. 19. 26. 17. 2U. 31. Feb. May 3- 10. 17. 2U. 31. •71 .70 .70 .70 7. 1U. 21. 28. Mar. 6. 13. Note: 1/ 2/ 3y Spread between Treasury and Corporate bonds Weekly, Wednesday closing pricee 3/: 2.U7 2.UU 2.3U 1939-Jan Feb Mar Corporate bonde 2/ Yields are computed on the basis of closing prices on New York Stock Exchange. Average of Treasury bonds not due or callable for twelve years or more. Average of five bonde. Or the last preceding sale when there was no sale on Wednesday. 2.08 2.12 2.16 2.17 2.81 2.78 2.77 2.76 2.20 2.16 2.17 2.1U 2.76 2.76 2.76 2.7U 2.1U 2.17 2.17 2.2U 2.27 2.73 2.7U 2.76 2.81 2.gg 2.56 2.6U 2.72 2.7U 3.K1 3.33 3.31 3.29 2.72 2.66 2.53 2.U§ 3.23 3.20 3.11 3.06 58 • 57 2.50 2.50 2.U7 2.3? 2.36 3.00 2-95 2.9U 2.91 2.90 • 2.U1 2.37 2.32 2.30 2.88 2.8U 2.85 2.83 2.29 2.28 2-32 2.30 2.32 2.82 2.80 2.82 2.81 2.g2 2.32 2.31 2.32 2.33 2.79 2.78 2.79 2.80 •U7 •U7 •»7 .U7 2.26 2.25 2.79 2.77 .53 .61 • 59 .56 .60 •? .60 • 59 • 57 • 59 • 57 .61 f 5 .69 • 59 • 55 51 • 5 1 * • ."7 5"» ."»7 M • 53 •53 53 52 • 50 • • • • • 51 50 52 Back figures may be found In the July 1939 bulletin, page 20. <J Ul a <i o in < uJ I o ^- «> O oi CO a o DO m >• D < CO LLl QL \- co Q _j UJ CD S E o o o o o o GOVERNMENTAL CORPORATIONS AND CREDIT AGENCIES -26- 27 Governmental Corporations and Credit Agencies of the United States: Jan. 31, 1940 (Compiled from latest reports received from these agencies) (In millions of dollars) 28 Sources of Funds of Certain Governmental Corporations and Agencies for the First 7 Months, Fiscal Year 1940 (Compiled from lateet reports received Corporation or agency toy the Treasury) 29 Uses of Funds of Certain Governmental Corporations and Agencies for the First 7 Months, Fiscal Tear 1040 (Compiled from latest reports received by the Treasury - Expenditures on Corporation or agency bull of check* Issued) 30 Sources of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to January 31, 1040 (Compiled from latest report* received by the Treasury) Corporation or agency 31 Uses of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to January 31, 1940 (Compiled from latest reports received by the Treaeury - Ixpendltures on basis of checks Issued) Corporation or agenoy 32 Principal of Outstanding Obligations Guaranteed by the United States (In Billions of dollars - compiled from report* received by the Treasury) End of fiscal year or month THE CAPITAL MOVEMENTS BETWEEN UNITED STATES AND FOREIGN COUNTRIES -33- 34 Summary Table - Change In Short-Term Foreign Liabilities and Assets by Classifications and Countries During 1939 (In thousand a of dollars) Classification and data 35 Summary Table - Change In Foreign Balances In Brokerage Accounts as Reported by Brokers and Dealers In the United States During 1939 (In thousands of dollars) Classification and date 36 Net Capital Movement between the United States and Foreign Countries 1935 through December 1939 < CO UJ K o u «5 Z o LU a: O CO Z> CM > z3 LU C UJ t> L±J tf LU 2> <i Q. < LU > _i Z> O EE o o £ in * * o O CD CM CM 38 Short-Term Foreign Liabilities as Reported by Banks and Bankers In the United States for December 1939 (In thousands of dollars) Liabilities as of following dates Trance Germany Italy Betherlands Swltserland Other Bur ope 482.173 U58.307 484,904 468,351 269.657 268,231 263.732 7>55 29.683 33.212 35.069 35.519 194,169 200,929 208,717 2OU.708 338.125 356.209 266,1*61 10,787 9.626 8,605 514.585 504,290 528,360 520.019 1*1*2,9.91 267.712 10,600 29.H8 1*20,1*53 266. 1*12 9.1*25 446.715 26U.l*l*l* 1*28.951 261,91*2 8.391 7.263 32.608 34.556 3U.988 192,168 199.362 207,191 203.181 512.489 502,366 526,530 51s. 187 434,647 263,1*80 "»ll,053 1*37.391 1*20,912 262.111 259.991 257.454 United Kingdom all other Grand total Canada Latin America 1.839,17? 1.830.804 1,881.140 1,865,423 320.938 315,963 294.053 285,090 359.925 361,890 36l,6l4 364.523 390,316 398.336 402.565 404,901 82,784 85.795 85.302 89.744 2,993.142 2,992,788 3.024,674 3,009.681 1,792.823 1,786,401 1,836,360 1.819,731 319.837 292,446 282,215 359.264 361.271 360.827 363.495 379.864 387.071 389.870 392.090 82.358 85.379 84.846 89.365 2,934,146 2.935.169 2,964,349 2.946,896 1.751.907 1.792.059 1.774.959 317.231 312.479 290,O?8 280.148 342.052 342,220 340.639 344.199 324.170 330.981 332.170 333,440 81,456 84,399 83,818 88.271 2.816.816 2.812,550 2,838.784 2,821,017 33,821 36,318 36,991 36,054 2,341 2.303 2,013 1,803 16.642 16.438 17.462 18.555 45.792 45.695 47.355 48,808 718 Total Europe Tar last TOTAL SBOBT-TISM TOBJIOS LIABILITIES: Beo. 6 Deo. 13 Dec. 20 Dec. 27 31*9,021* 365.639 TOTAL LIABILITIES PATA3LC IB DOLLARS: Deo. 6 Dec. 13 Dec. 20 Doc. 27 337.71*5 355. 775 348,533 365.219 315.,047 Deposits for foreign account: Deo. 6 Dec. 13 Dee. 20 Dec. 27 , 10,212 9.052 8.0U1 6.987 5:8 33.577 33,952 186,1*25 328.928 192.282 200.U26 196.659 31*6.871* 338.693 354.259 500,276 489.637 513,940 506.736 1.71*2,471 BIIIb held for foreign account Dec. 6 Dec. 13 Dec. 20 Dec. 27 7.513 7.923 7.996 6.717 1.28U 1.30>* l,4s6 1.1*17 150 198 132 173 65' 5.0U1 6.378 6.080 5.902 8.1*53 8.51*8 9.297 9.768 10,552 11.171 11,344 11,384 99.314 101,5' 905 104,6 106,125 Short-term United States Government obligations held for foreign account: Dec. 6 Dec. 13 Dec. 20 Dec. 27 9.563 9.533 9.521 9,500 9.506 9.500 10 & 9. 9. Other liabilities payable in dollars: Dec. 6 Dec. 13 Dec. 20 Dec. 27 T?9 2.9 1** 1,1*1*5 2.997 2.967 3.071 1.296 1.290 238 175 218 93 350 323 3U3 696 702 685 620 513 531 2,001 1.567 1,526 1,527 351 36U 570 2.613 2,726 741 1,192 1.657 1.55? 1.245 2.066 7.053 7.579 7.277 8.675 434 491 420 2.096 1.924 1,830 1,832 44:403 44,780 45,692 li 1.607 2.875 661 619 787 1,028 203 143 1,593 1,401 1.256 1,271 15,616 12,925 9.987 10.757 622 1.305 2.552 380 390 292 286 161 201 236 217 25.660 26.404 29.338 29.453 216 342 322 338 5,080 5.074 94 265 335 381 895 r 362 184 185 185 189 8.453 11.537 11.362 10,211 426 416 456 379 58.996 57.619 60,325 62.785 TOTAL LIABILITIES PAYABLE II TOBIIGH CUBHIECnS: Dec. 6 Dec. 13 Dec. 20 Dec. 27 39.182 37.85>* 38.I89 39.1*00 1.945 1,819 2,017 1,790 187 201 1*61 185 200 212 190 2ll» 192 1,101 6 10.4 11,21 12.695 12,811 Borrowings from foreign banks: Dec. 6 Dec. 13 Dec. 20 Dec. 27 11,872 9.734 7.106 8,102 475 1*93 331 351* 381 302 1,020 310 1*10 619 619 799 761 24,602 22.613 21,764 23.952 7.786 8,642 10.150 10,328 Acceptances Bade by foreign banks: Dec. 6 Dec. 13 Dec. 20 Dec. 27 23. 1*62 1.260 24,183 26.751 26.991 1.2l*2 116 114 1.1*16 U3 1.325 135 3.6l»8 22"* 3.937 4 ,332 102 108 134 95 109 25.980 26.717 29,644 29.749 221 217 220 Other liabilities payable In foreign currencies: Dec. 6 Dec. 13 Dec. 20... Dec. 27 >*.307 9 f 86 362 361 312 356 207 242 265 253 5>55 73 «5 5.482 103 279 227 2.587 374 2.429 408 329 8.414 8,289 8.917 9,084 39 Short-Term Foreign Assets as Reported by Banks and Bankers In the United States for December 1030 (In thousands of dollars) Assets as of following dates United Kingdom Trance Germany Italy Netherlands Switterland Other Europe Total Europe Canada Latin America All far laet other Brand total TOTAL SHOBT-TBBM FOEJION ASSXTS: Dec. 6 Dec. 13 Dec. 20 Dec. 27 44,915 "•5.098 1*2.820 44,394 5.375 5.932 4.91 56,056 53 \$ 9.384 9.574 10.503 10,871 6,625 6.289 6,623 6.596 5.051 5.101 4,856 4.933 57,005 52.524 52,566 53.017 184.411 179.801 176,921 178,721 4i,683 915 917 l.5>»7 807 730 704 55 * 2.906 2.772 3.041 2.977 34.555 33,195 1.080 813 1,227 1.415 650 K57 598 647 16.7* 725 718 714 710 131 137 111 119 61 34 30 135 132 134 115 336 324 343 305 8.469 8.657 9.6o4 9.977 I76.I65 184,030 188,849 186,908 11.281 12,149 11,942 11,866 527.510 42,021 46,308 113.970 117.035 114,710 117.502 10,068 9.893 10,027 8.659 2.860 2,876 3,006 3.032 22,623 22.777 23.303 22,818 1,008 892 942 940 1,114 633 71,192 69,731 6,831 6.8B9 7.227 5.902 775 838 600 16,558 16.798 17.716 I.698 1.452 1,811 1,188 689 667 663 658 6.837 6.717 6,890 6,753 1.793 1.637 1.374 1.335 1.619 1.458 1.709 1.719 10,984 9.920 10,226 9. 813 1.444 239 96 97 5.078 5.015 4,942 4.757 4.244 4,371 4.152 4.379 54.099 49.752 49.525 50.040 149.856 146.606 143,007 144,439 31.615 31,486 31.994 601 478 406 54o 314 359 367 389 307 274 258 375 15.313 IO.536 10,455 11.157 50.776 46,148 5.674 3.503 6,681 6.792 7.001 7.154 2.457 2.370 2.257 2,085 3.053 3.221 3.052 2.997 1.187 1.387 2.197 2,283 2.307 2.286 2,318 2.283 884 876 842 1,007 1*1.379 534. 3? 1* 534.443 541.305 TOTAL ASSETS PAIASLE IN fOKSIOH CURRENCIES: Dec. 6 Dec. 13 Dec. 20 Dec. 27 27.386 26,492 26.596 26,986 592 658 631 688 1*02 14,027 14.251 1U.006 14.808 213 277 211 3U9 111 4,748 4.663 4.877 4,785 21>* 8,611 7.578 7.713 7.393 165 167 209 162 17.529 18, 606 16.224 17.408 4.783 55.65I* 5.271* >*.276 5&.951 5"*. 268 53.602 71*1* 26.1*87 1.207 24,958 25.017 25.039 352 362 3* 1.274 1.681 1.839 1 ,914 34,282 8 Banks own deposits abroad: Dec. 6 Dec. 13 Dec. 20 Dec. 27 1*6 91*9 26,088 25.796 26.834 25.802 * Deposits abroad for account of domestic clients: Dee. 6 Dec. 13 Dee. 20 Dec. 27 214 211 177 28U 275 29 610 64o 19.880 19.971 19.958 19.985 1.475 1.405 1,418 1.443 1.045 1.354 1.534 1,645 933 800 860 864 14,846 15,464 15,187 111,110 114.159 111,704 114,470 153.542 161.253 165,546 164,090 10.273 11.257 11,000 10,926 456,396 464,761 463,251 471.574 45,666 5.632 10,623 13.027 13.722 13.573 15.173 112.315 118,631 122,075 125,172 139 223 637 487 181,931 184,118 185,420 197,121 13.190 14.199 14,216 14,354 42,886 44,526 43,410 43.300 3.026 3.007 2,856 2.629 25,026 25,205 25.321 25.336 1.956 25.596 25.017 24,854 24.529 56.194 55.932 56.094 55.473 22.915 22,885 23.506 2 1*. 397 73.057 75.232 72.810 73.961 IS 29.145 28,991 28,894 28,742 Other assets payable in foreign currencies: Dec. 6 Dec. 13 Dec. 20 Dec. 27 96 1,422 15. 881 TOTAL ASSETS PAYABLE IN DOLLAES: Dec. 6 Dec. 13 Dec. 20 Dec. 27 , 4.292 37.6% Loans to foreign banks: Dec. 6 Dec. 13 Dec. 20 Tec. 27 7.010 8.336 6,518 7,612 1*82 554 5.591* Acceptances made for foreign banks: Dec. 6 Dec. 13 Dec. 20 Dec. 27 2.795 2.909 2,948 2,892 1.473 1,1*1*6 1.383 1.383 13.237 13.589 12.553 12,1*35 73.1*77 75.3a 2i443 1.843 675 611 74.705 73.719 9.551 10,410 9.688 9.828 200,988 205,122 203,126 200, 731* Other aesete payable in dollars: Dec. 6 Dec. 13 Dec. 20 Dec. 27 7.72't 2,.566 7.361 6,758 2.621 .621 16,381* 2."*27 6,901* 2.339 16,698 16,128 15.930 S:Sg 41,028 37.075 40 Security Transactions as Reported by Banks, Bankers, Brokers and Dealers In the United States for December 1939 (In thousands of dollars) Transactions during weak ended- 41 Security Transactions in Joint Foreign Arbitrage Accounts as Reported by Brokers and Dealers in the United States for December 1939 (In thousands of dollars) Onlted Kingdom Transactions during week ended- Franco Go many Italy latherlands Switzerland Other Europe Total Europe Canada Latin America Far last All othsr Grand total TOTAL F0F.0HASXS IN TBI OSITZD STATES: Sec. 6 Doc. 13 Dec. 20 Deo. 27 59 25 88 64 107 »3 25 49 20 44 13 10 3 20 162 187 188 119 £ U3U 79U 560 37 35 Purchases of domestic securities Deo. 6 Deo. 13 Deo. 20 Dec. 27 86 70 122 105 33 25 85 63 , , 20 20 117 105 Purchase e of foreign securities: 16 22 Dec. 6 Dec. 13 Dec. 20 Dec. 27 18 20 79 3 123 71 1U 4o6 U8U 6 171 281 487 9 10 71 197 36U 672 47 1*8 569 32 35 U55 TOTAL SALIS IB TEX UHI TED STATIS: Dec. 6 Dec. 13 Dec. 20 Dec. 27 82 390 235 370 102 a 11 6 7 e 15 5 124 81 105 18 11 tog 5 5 655 627 999 613 16 2 Sales of domestic securities Dec. 6 Deo. 13 Dec. 20 Dec. 27 316 204 '1 1(08 6 TOO 7* 16 384 72 7 2 Sales of foreign securities: 76 31 17 52 Dec. 6 Dec. 13 Dec. 20 Dec. 27 247 312 599 539 171 281 582 487 Foreign Balances in Brokerage Accounts as Reported by Brokers and Dealers in the United States for December 1939 (In thousands of dollars) Balances as of following dates United Kingdom France Germany Italy Latin America Netherlands Switzerland Other Europe Total Europe Canada 13.645 13.401 13.397 13.238 5.458 m 3.296 3.232 3.344 2.995 4.297 4,661 4,892 All other Grand total 11.233 11,121 11,668 11.814 405 422 443 48.938 48,163 48,320 48,714 1,122 1.354 1.1S0 1.340 1.760 1.749 1.870 2.015 47.720 47.514 49.27? 49,686 Far last Foreign debit balances: (due from abroad) Dec. 6 Dec. 13 Deo. 20 Deo. 27 2,208 2,260 2.3*6 2,897 3.051 2,860 3,082 5.853 5.652 3,009 l4l 13U 129 125 2.33 73 87 5.60U 18,245 17.881 17.587 17.868 7.766 7.782 7.666 7.516 106 105 6S 52 56 51 5.928 5.832 6.716 6.755 13,469 13.017 13.760 14.253 2,944 3.283 3.158 3.112 37.245 36,518 38.023 38,887 3.257 3".6f°7 3,i>to 3.618 3.575 3.U7 6.951 6,388 6.561 7.095 5.351 Foreign credit balances: (due to abroad) Dec. 6 Dsc. 13 Dec. 20 Dec. 27 4.41*9 42 Foreign Purchases and Sales and Net Purchases or Sales of U.S. Domestic Securities (In thousands of dollars) Transactions during week ended- 43 44 Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported by Banks and Bankers in the United States for December 1939 (In thousand* of dollars) Ourrency ofIrani act Ions during weak ended- United Klngdon Trance i 45 Outstanding Forward Exchange Contracts as Reported by Banks and Bankers in the United States during December 1939 (In thousands of dollars) Currency ofContract! as of following dates Unlted Kingdom Trance Germany Italy Netherlands Switzerland Other Europe Total Europe Canada Latin America 267.730 264,588 266,l60 254,956 65.605 61.950 58.920 57. 215 1.365 1.357 1.478 16.314 16,080 16,145 1,1*10 16.1*59 91*5 937 937 926 6,302 6,644 7,199 6.903 Far last All other Grand total TOTAL FUECSASI CONTRACTS: Dec. 6 Dec. 13 Dec. 20 Dec. 27 239.023 234,320 234.719 224,1*26 721 807 834 6gl 64,002 60.517 60,569 60.754 95 138 150 131 175,021 173.803 174,150 163.672 625 550 242 257 233 232 244,993 244,863 246,315 241,722 971 1.179 1,150 1,064 360 379 388 372 23.386 24,079 25.474 25.887 2,953 2.927 2.585 3.125 7.986 8,670 9.095 7.912 280 650 282.098 285.007 280.082 68.1U7 64,683 61,255 58.648 1,803 2.172 2.319 2.259 12,61*5 56 12.329 11.365 11.365 60 62 56.117 55.955 59.107 58.375 223 217 217 145 25 40 40 40 9.484 9.883 10.433 10,752 l,6s6 1.635 1,267 1,686 4.847 5.575 5.831 5,080 72.383 73.306 76.895 76,078 30.868 30.530 30,007 29.531 1.590 1.950 2,096 2.035 4.681 5.077 4,562 5.073 51 53 51 51 188,876 188,908 187.208 183. 347 748 962 933 919 335 13.902 14,196 15,041 15.135 1,267 1,292 1.318 1.439 3.139 3.095 3.264 2.832 208,267 208,792 208,112 204,004 37.279 213 222 223 224 7.964 7.252 6,803 6.292 19A31 240 239 1.744 1.870 1.570 20,049 21,193 a, 472 1.831* 6.562 7.278 7.604 6.304 4.237 3,905 1*7 213 1,508 1.795 1,902 1.663 71.099 67,181 67,012 66.673 14.396 15.765 16.956 17.567 1.392 1.430 1.423 1,621 4.954 5.483 5.702 5.641 196,631 197,407 199,148 188,283 57.566 55.081 51,883 50,666 420 420 10,012 1*36 9,436 87 82 264,716 481* 8,95 346 .556 72 73 260.590 249,062 363,301 361.340 360,006 352. U16 87 82 72 73 351.101 344,057 3"*2.775 330.113 Contracts for purchases froB foreign customers Dae. 6 Dec. 13 Dec. 20 Dec. 27 §:Sg 7.037 6.549 86,385 81,631 82,185 81,051 Contracts for purchase from domestic customers: Dec. 6 Dec. 13 Dec. 20 Dec. 27 262,1*26 TOTAL SALXS COHTHACTS: Dee. 6 Dec. 13 Dec. 20 Dec. 27 . Contracts for sale to foreign customers Dec. 6 Dec. 13 Dec. 20 Dec. 27 109.573 110,916 113, 611 112,768 Contracts for sale to domestic customers: Dec. 6 Dec. 13 Dec. 20 Dec. 27 332 3M53 31.248 29.117 Net Position in Foreign Currencies of Reporting Banks and Bankers in the United States for December 1939 5 253.728 5 250,1*21* 9 246.395 239,648 11 OTHER MONETARY 46 STATISTICS 47 Gold Assets and Liabilities of the Treasury (In millions of dollars - on basis of dally Treasury statements, nnrerlsed) Ind of calendar year or month to > _ » CO g Q < Q 3 O 8. 49 Components of Sliver Monetary Stock (In millions of dollars - on bail» of daily Tre.bury statements, revised) End of calendar year or month 5 .. 3 50 Net Movement of Silver to and from the United States (In thousands of dollar* - as reported U. bj- United Kingdom Other Europe 36.521 2&5.133 53.393 3«.120 13U.26U 12.381 193 1* 1935 1936 1937 1938 1939 21.995 58.325 29.925 30.203 Chile Peru -3.780 -5.611 -8.951 -7.U51 -U.3U2 3.906 10,199 7.408 6.786 7.381 6.513 491 759 *$ 582 494 223 321 252 31.597 -"t.787 2.635 3.112 -1.093 -750 8 263 5U5 3.19 1* 3.225 -1.250 38 -1*92 899 3.702 17 6s 1.6U1 1.773 2.326 5 -93 799 775 786 67 210 12U 516 U22 5U8 -1 U30 -135 -90 -97 -157 -U09 503 596 508 2.607 2.382 2.263 1J* -3 71 3U4 1U -105 -13 * % ,1 2.539 2.322 -1» Apr. May.. June. 1.10U 1,017 3.038 19 July. Aug.. Sept. 1*3!* -1(85 15 17 -564 , 19U0-Jan. ?eb.. ins 3 8 13 12 1 12. 1»7 5.U16 6.798 10.915 7.078 u.715 11 15 3 7 574 -5 11 400 1*67 Vet Imports from or net exports (-) to: Calendar year and month British India -338 188 3.02U 193 *. 19351936. 1937. 1938. 1939. 1 Bong Kong China 21.967 227 69.996 5.61U 150 -73 Other Asia Japan 2.873 6,7«7 3.U6J 61 7.725 303 843 2.144 1.271 2.93° 4,234 Other Latin America Cuba 372 5*7 U.083 324 Dec. Mexico 1.550 2.920 1,048 96S 696 851 1939-Peb.. Mar.. Oot.. Not.. Canada 190 8.U57 856 -25 15.396 2/ -656 Department of Commerce) imports from or net exports (-) to: Vet Calendar year and month S. 134 3.224 3U2 50U 10,608 37 1.960 All other 381 -1.228 2.738 611 2,858 3.178 28U 1*04 361 123 284 336 135 523 17U Total net Imports or exports (-) 3* 118 us U33 617 672 S6.17U 335.730 170,851 79.835 223.449 70.677 s 7,87"* 1939-?eb.. Mar.. "3 250 630 502 1*32 Apr.. May.. June, 86 588 270 326 217 25 5.089 121 228 6 W&7 43 July. Aug.. 5.319 -35 -203 Sept. Oct.. Hot.. 2.1*04 Sec. -257 19>*0-Jan.. -184 2/ 3_/ 635 155 161 216 lhg U15 155 127 1,261 170 Jen.. 1/ 160 5.284 i»,S91 55 158 75 «9 87 -11 5>95 5 ]l So 3.696 2.908 92 56 55 59 3.428 3.3>*7 5.347 3.773 LesB than $500. Includes net import of $12,950,000 from France. Includes net Import of $9,791,000 from Slam. Seigniorage on Silver (In millions of dollars - on basis of dally Treasury statements) Sources of seigniorage on silver bullion revalued 1/ Cumulative from Jan. 1, I93U to end of calendar year or month Seigniorage on silver and minor coins 1934. 1935. 1936. 1937. 1938. 1939. 46.1 63.7 69.5 91.7 19U0-Jan. Teb. 92.9 93.9 1/ 4-5 18. Misc. silver Silver PurNewly-mined Newly-mined (lncl. sliver chase Act silver (Proc. silver (Act bullion held of June 19, Dec. 21, 1933) July 6. 1939) June 14, 193U) 1934 1*8.7 1*8.7 1*8.7 1*8.7 .1* 51.1 16.6 36.O 58.0 7U.9 226.2 302.7 366.7 Nationalised silver (Proc. of Aug. 9. 193>») 1*8.7 1*8.7 87. U.2 530.7 28.5 34.5 3t.7 3t.7 34.7 34.7 1*8.7 1*8.7 67.5 87.5 6.3 7.7 533.8 538.3 34.7 34.7 1*57.7 Total seigniorage on silver revalued Potential seigniorage on silver bullion at cost In General Fund 128.7 326.2 U22.1 508.1 6l6.0 705.6 773-9 950.6 711.0 716.9 961.5 972.1 137.5 276.7 398. U 5>*3.9 These Items represent the difference between the cost value and the monetary value of silver bullion reTalued and held to secure silver certificates. 51 Value of Selected Currencies In Terms of Gold 1928 • 100 Monthly average of daily quotation. MISCELLANEOUS -52- I . 53 Commodities Imported Under Quota Provisions Unit of quantity Quota period Commodity and country Cattle weighing under 200 pounde each Established quota 15.U77 Bead Calendar year Quantity Imported undar quotaa to March 2. I9U0 Cattle weighing 700 pounde or more each, other than dairy cove: fron Canada • from other countries (Juartor year from Jan. 1, l^ Bead 51.720 Ojiarter year from Jan. 1, 19U0 Bead 8,280 11,266 Whole milk, fresh or eour Calendar year Ballon 3,000.000 1.229 Cream, fresh or sour Calendar year Ballon 1,500,000 1U2 Pish, fresh or frozen, filleted, etc, Ood, Haddock, Bake, Pollock, Outk and Boeaflah. Calendar year Pound 15,000,000 990.927 12 monthe from Sept. 15, 1959 Pound 90.000,000 51.1U7.882 IS monthe from Sept. 15, 1979 Pound 60,000,000 13, U17.213 White or Irish potatoes: Certified aeed Other Silver or black fox fur unltai Prom Canada January I9U0 Unit U.9US Prom other countries 7.1*81 January I9UO Unit Cuban filler tobacco, unatammed or stemmed, and scrap tobacco Calendar year Pound 22,000,000 Molasses and sugar sirups, containing soluble nonaugar solids equal to mora than 6j» of total soluble solids Calendar year Dalian 1,500,000 Trom Venezuela Calendar year Oallon l,s69,0lU,6l6 185,955.891 Prom (etherlande and Netherlands Indies Calendar year Oallon 527.69i.i92 1U5. 862.978 Calendar year Oallon 103.97*. 560 7.655.677 Calendar year Oallon 98.779.632 60,892.132 Calendar year Pound Wt8, 000,000 62.632.753 Oalendax year Pound 112,000,000 T.282.167 Calendar year Pound 1,792.000,000 266,839.120 12 months from May 1, 1979 Pound 6,000,000 U.337.215 850.000 285.7U2 200.000,000 15.515.3U7 U.500.000 100,132 3,221,620 Crude petroleum, topped crude petroleum and fuel oil Prom, Colombia • Proa other oountrleo 1 , Products of Philippine Islands! Ooconut oil • • , Refined sugar . •agar other than refined Cordage • Buttons of pearl or shell Calendar year Gross Olgaxe Calendar year Bumber Scrap tobaooo and stemmed and unstemmed filler tobaooo Calendar year Pound 54 Summary of Criminal Cases in the United States District Courts Alcohol Tax, Outtoaa, lareotlot, Secret Serrloe and Internal BeTenue 1/ for tha Month of Jan. 19U0 IBVISTOBT 01 OASIS ' Treas. HJ U.S. Treasury Dept. 10 Treasury Bulletin A2 1940 c.2 • Treas. HJ 10 .A2 US. Treasury Dept. AUTHOR 1940 Treasury Bulletin