Full text of Treasury Bulletin : March 1944
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/
M3RARY
r^'
L!PRARY
POOIVl
JUN
?,
5030
1 1972
TREASURY DEPARTMENT
FCmyiCTORY
BUY
UNITED
STATES
JV^AR
BONDS
AND
STAMPS
(M^
BULLETIN
OF THE
TREASURY DEPARTMENT
MARCH
1944
Analysis of Receipts and Expenditures
Composition of the Public Debt
Prices and Yields of Government Securities
Other Treasury Statistics
UNITED STATES
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
March 1944
Cumulative Table of Contents
It sue asd pa^e numlisr
I9W*
Mar
I.
.
Pel)
.
19^3
Jan
Dec
.
Nov.
Oct
.
Sept
.
Au£.
July
June
Apr
Kay
Special articles
War Loans:
Fourth War Loan, January-I'e'bruary 19Ult:
Sales of securities, classified by Issues, by types of Investor.
and by States
Preliminary report on ealee
Outline of plane
ComparlBon of features of securities offered
7
8-9
Third War Loan, September I9U3:
Sales of securities, classified by iesues. by types of Inveetor,
and by States
Cooparlson of features of secorltlee offered...
Bedemptlon values and inveBtment yields of United States tavings
bonds and Treasury saving notes
1-7
2-3
U
Second War Loan. April I3U3:
Sales of Series E BavlngB bonds by Statee
Sales of seeuritles, classified by issues, by types of investor,
and by Federal Reserve Districts
Comparison of features of securities offered
Tint War Loan, Beeember 19^2, sales of securities classified
types of Investor
2-6
2-3
^
Security purchases outside Fourth Var Loan Iqr comnerclal banka and by
U. S. ^Terune&t a^noles and trust funda
*-12
Treasury market financing
A-2
Treasury aarket refunding operations In March I9UU
M2-M}|.
TlnanelD^ the var and the post-war readjustment
1-6
,
Financial operations of the United States OoTenment during the fiscal
year I9U3
,
2-5
Var aotlTltles budgetary es^endltures, monthly July 19^0 throng April
igit}
»
Bank deposits:
Maps shoving deposits by counties, as of Decaber 31* 19^2 and Increases during 19^^
II.
U-5
Summary of fleoal statistics
Budgetary receipts and expenditures
Public debt and guaranteed obligations outstanding.
Means of financing cash requirements
III.
Receipts and expenditures and appropriations
Appropriations end net contract authorisations for the var activities
program as of month-end preceding month of publication
Budgetary receipts and expenditures:
Summary
major elaself leatlons
Analysis of receipts from Internal reresiua
Analysi s of general expendl tures
Analysis of expenditures for var actlTltles
Analysle of expenditures for war activities, monthly July 19^0
through April I9U3
Analysis of expenditures for (1) revolving funds and (2) transfers
to trust accounts, etc
Total budgetary receipts and expenditures, by months, for recent
years
V
5-6
5-6
5-6 13-Il»
5-6 y-i"*
5-6
15
7
7
l6
17
8
9
9-10 11-12
7-8 12-13
11
11
12
12
13
9
Ik
9
10
10
lU
lU
15
15
13
15
11
16
12
12
13
13
7
17
17
10-11 10-11 10-11 lg-19 10-11 18-19
10-U
lU
13-lu 15-16 11-12 16-17 lU-15
Trust account, etc. receipts and expenditures...-.
12
12
12
20
12
20
12
15
17
13
18
16
Means of financing cash requirements
13
13
13
21
13
21
13
16
18
lU
19
17
lU
15
15
11*
15
15
17
18
18
20
20
20
21
21
18
19
19
16
16
16
16
16
16
19
19
19
22
22
22
20
21
17
17
17
17
20
22
18
23
21
Social Security program:
Budgetary receipts and expenditures:
Social Security Act
Railroad Retirement Act
Sal Iroad Unemploysent Insurance Act
Statement of trust accounts;
Federal Old-Age and Survivors Inauranoe Trust Fund
Railroad Retirement Account
Unemployment Trust Fond
Cash Income and outgo of the Treasury:
Analysis by major classificatioas
Total cash income and outgo by months beginning vlthi
January 1938
(Continued on folloving i»ge)
17
17
17
25
13
21
21
20
20
17-18 25-26 17-18 20-21 22-23 18-19 23-2U 21-22
Treasury Bulletin
Cumulative Table of Contents
(Continued)
-
latu* aad page iiuib*r
19^3
191*11
Mu-.
r»\>.
Ju
Die.
loT.
Oct.
Sept.
Aug.
J11I7
JsM
Ma7
Apr
IV. Oeneral Fund of the Tr««»urT
Ai«ttt, llnbllltiat, and balaaoa in 0«aaral Tnnd.
Aaaljili of cbaocaa In balanca of 0«naral Tvai..,
V.
2U
55
Public a»bt and suaranteaA obllgatlona of United 3tatea Oovernnent
public debt and guarantaad obllgatlona;
S^aK*TJ
Datallad atateaant
Chart
27
29
Public debt:
laauanca and retlraeent (racalpta aad axpandlturaa)
Ictaraat-bearine dabt coapoaltlon of
.
Guarantaad obllgmtlona held b/ Treaaurj
Dabt position of Uhlted Stataa aoTernaant under llBltatlona lapoaed bj
Section 21 of the Second Liberty Bond Act, aa aaendad:
March 31 I9U3
June 30 1943
Septecbar 30 I9U3
Baceabar 31 I9U3
30
.
31
.
35
.
S6
,
CoBputed Interaat charge and covpntad Interaat rata
s6
Maturity achadule of interaat*bearlDg public narketabla aacorltlee
leauad or guaranteed by the United Stataa, aa of Bonth-end
preceding aonth of publication
26
2T
26
36
n-29 27-?9 28-30 35-37 28-30 37-39
29
27
32
32
31
27-28 30-31 33-3't 28-29 33-3'* 32-33
Offerlnga of Barketabla aacurltlea;
Treaauiy bonda. notaa. and certlflcatea of Indebtedneaa beginning
«lth:
January 1, 1939
JaBuar7 1, IS&O
January 1, 19U1
fraaauxT bllla
3't
31
3«
30
30
31-32 31-32 32-33 39IU6
United stataa aarlnga bonda;
Suaaary of aalaa and redeBptlona, by aerlea
Sales by aarlee claaalf lad by danoalnatlona
Sales to InTestora other than coaaarclal banka by aerlea, elaaalflad
by Stataa
EedOBptlon Taluaa and InTaataant ylelda
Payroll aaringa plana
,
Traaaury notaa - tax and aarlnga aarlaa:
Sugary of aalea and redeaptlona, by aarlaa.
Sales, elaaalflad by;
Denomination
Type of purchaaar
RadeBptlon Talues and InTaataant ylelda
33-3'' 33-3'* 3'*-35
31
32
ui-Ua 33-3't
1*0
32
Ul
i*2-i»3
30
33
35
36
30
35
31
36
35
31-32 3''-35 37-38 32-33 37-38 36-37
35-36
37-38 36-37 37-38 W*-U5 36-37 '*5-U6 3't-35 37-38
38
"39
'is
38
^1
36
U0->*1 39-ito i«o-Ui U7-i*« 39-ito l*8-U9
37-38
39
'2
'tl
1*2
1*1
1*2
"9
U9
Ul
1*1
1*0-111
50
50
39
39
39
35-36
1*0-1*1 39-1*0
.....
It
U2
U2
1*0-1*1 '•5.t8 1*0.
'ui
ltU,U7
U3
1*2
1*6
1*1
1*6
"5
U2
1*7
U2
U7
1*6
I*
United Statee aarlngs staspa;
Suvmry of ealee and redaaptlons
Salaa. elaaalflad by:
DanoBl nation
Stataa
UO
50
"3
"•3
VI. Ownereiilp of Oovernoent geourltlee
Sunsary dlatrlbution, by holdara. of aacurltlea Issued or guarantaad
by the United Stataa
,
U6
1*6
53
51*
1*6
50
50
Market tranaactlona in OoTeraBSfit securities for Treasury InTaataant
accounts, aonthly beginning January 1937
U6
U6
53
5U
1*6
50
50
Suaaary data froa Treaaury aurray of the m^erahlp of OoTanuaant
aacurltlea:
Tabruary 28, I9U3
March 31, I9U3
April 30. I9U3
May 31. 19'*3
June 30. I9I13
July 31. 15''3
August 31, 191*3
Septeabar 30, I9U3
October 31, 19U3
Koraabar 30. I963
DaceBber 31. I9U3
,
January 31. 19111*
1
50-55
51-56
52-63
52-63
52-63
U6-51
51-56
'*7-52
1*1*
55-60
U6-51
5t-59
>'7-52
U6-5I
'•7-52
Harlslon of claaslf icatlon of inauranca coapaoy data, quarterly
March 31, 19U1 through March 31, 191*3, and April 30 and Ms; 31,
52-63
19'»3
(Continued on follovlng page)
J*9
March 1944
Cumulative Table of Ck>ntent8
-
(Continued)
March 1944
A-l
SPBCIAL
ARTICLES
2
A-
Treasury BuHetin
Sales of United States Government Securities in the Fourth War Loan
Summary
Sales of United States Oovernment aecurltlea In the Fourth War Loan totaled $l6.7
This amount exceeded the goal of
bllllone.
Like the Third
$il4- bllllone
by 20 percent.
War Loan this campaign was confined to aubThe drive
Bcrlptlone by nonbank investors.
thus continued to carry out the Treasury
principle of raising funds necessary to finance the war In such a way as to absorb consumer Income which otherwise might be drawn
The main emon for Inflationary spending.
phasis was placed on wider distribution of
A
Oovernment securities among Individuals.
special effort was made to dlscoui'age speculative purchases.
Of the total sales of $lb.7 billions,
$5.3 billions were purchased by Individuals,
and personal trust accounts,
partnerships,
billions by all other Investors,
and $11.
including Insurance companies, mutual savings
dealers'
associations,
corporations,
banks,
and brokers, State and local governments, and
U. 3. Government field agencies.
If-
Two categories of purchases of Government-securities during January and February^^
were not counted In the goal or In Its at-/'
These were (1) sales to Treasury
talnment.
Investment accounts, and (2) limited sales to
commercial banks holding savings deposits.
Purchases by both of these classes of Investors are discussed In a concurrent article
which appears on page.A-12.
...,.»^^.».
.
Sales In the Fourth War Loan to the several Investor groups, with their percentage
achievement, are shown below:
Class of InTsstor
March 1944
Committees, officials of the Federal Reserve
System, and other inTestment authorltlas.
State goals were announced December 9«
As before. It was recognized that quotas b?
States must be viewed as approximations,
since they are based on less comprehensive
data than estimates of liquid savings and
aoounulatlons used In forecasting nation-wide
State quotas for sales to
expected sales.
Individuals, partnerships, and personal trust
accounts were based on estimates of Income
payments to Individuals, with extra weight to
the "return on capital" component In the case
of securities other than Series X bonds.
Monthly estimates of Income distribution by
States were prepared which tied In with Department of Cpmmeroe Income payment estimates
State quotas for
for the entire country.
corporations other than Insurance companies
and mutual savings banks were based meULnly on
Quotas for Insurance
demand deposit data.
companies and. mutual savings banks were based
on State distribution of assets of these
organizations and recent changes therein.
workers In the
of
The organization
Fourth War Loan followed the State, county,
and municipality pattern of the Third War
Loan, and It was strengthened by the advantages of having a previously laid foundation
Methods first used In the
on which to build.
Third War Loan were expanded and developed.
House-to-house campaigns were waged In almost
every large city as well as In smaller commuOffices and factories were canvassed
nities.
and plant quotas were used more widely. Between five and six million volunteer salesmen
were enlisted and 75i(^t^ sgtnts lasaed the
securities.
The formal period of the Fourth War Loan
extended from January 18 through February I5,
19'(4.
All subscriptions for savings bonds.
Series E, F, and Q, and for savings notes, received at the Federal Reserve Banks and the
Treasury between January 1 and February 29
were credited to the Loan. This allowed time
for clearance of eales through Issuing agents
and the Federal Reserve Banks, and permitted
sales organizations to begin their work prior
to the formal opening where desired.
In order to avoid disturbance to the
money market and the banking system the
Treasury requested In the original announoement of the Loan that all subscriptions by
corporations and firms be entered and paid
for through the banking institutions where
the firms were located.
It was stated that
the Treasury and the Federal Reserve Banks
would undertake to give statistical credit to
any locality for such subscriptions which the
corporations and firms might request, with
the exception that subscriptions from Insurance companies would be credited to the State
of the home office as In the past.
A-3
Simultaneously,
In order to help In
achieving Its objective of selling as many
securities as possible outside the banking
systfim, the cooperation of all banking Institutions was requested in declining to make
loans for the purchase of (k>vernment securiThe request
ties for speoulatlve purposes.
stated, however, that the Treaeury was In
favor of the banks making loans to facilitate Investment In Government securities provided such loans were made In accord with the
Joint statement Issued by the National and
State Bank Supervising Authorities on November S3, 1942. This statement was as follows:
'The Oomptroller of the Currency, "the
Federal Deposit Insurance Corporation, the
Board of Governors of the Federal Reserve
System, and the Executive Committee of the
National Association of Supervisors of State
Banks make the following statement of their
examination and supervisory policy with special reference to Investments In and loans
upon Government securities.
"1.
There will be no deterrents In examination or supervisory policy to Investments by banks In Sovernment securities of
all types, except those securities made specifically Ineligible for bank Investment by
the terms of their Issue,
2. In connection with Government financing, Individual subscribers relying upon
aintlclpated Income may wish to augment their
subsorlptlons by temporary borrovings from
Buoh loans will not be aubjeot to
banks.
criticism but should be on a short term or
amortization basis fully repayable within
periods not exceeding six months.
"3.
Banks will not be oriticlzed for
utilizing their idle funds as far as possible
in m&klng saoh inveatments and loans and
availing themselves of the privilege of temporarily borrowing from or selling Treasury
bills to the Federal Reaerre Banka when
neceaaary to reatora their required reaarve
poaitiona."
Sales by States
On the accompanying mapa, total aalea and
aalea of Serlea E aarlnga bonds 1& tbm Peortb
War Loan are ahown as a peroaataga of quotaa
raised in each State; in Table 2 aubaoriptione are shown in dollar volume and are
compared with the goals for each State by
For puipoees of this
classes of inveatora.
discussion,
the District of Ooluabia and
Northern and Southern California are counted
ae aeparate State units. Alaska, Hawaii, and
the poaseesiona are diacuaaad aeparately.
The 20 percent oversubscription to the
Fourth War Loan was widely distributed and
all States were able to make their total
quotas. Mississippi and North Dakota exceeded
A-U
Treasuni Bulletin
TOTAL SALES
4^" WAR LOAN
DURING
Percent of Quota Reached
in
Each State
LEGEND
I
\
Under 115%
^115%
^^125%
t^/35%
to
to
124%
134%
or over
SERIES E SALES
DURING
4^"
WAR LOAN
Percent of Quota Reached
LEGEND
100%
\~2/00% to 109%
I
\Ur)der
^^//0%
^Mt20%
to
119%
or over
in
Each State
March 1944
A-
their total goa Is by over 50 peroent. Among
the States wit 1 larger goals, Illinois led
the llet of St, ites by an oversubscription
of Its $905 ml llions quota by "ik peroent.
NewXork, with t le highest State quota ($1)., 193
millions) oversi ibsoribed this amount by 11
percent. Alaski I and Hawaii made outstanding
sales aohlevemeiiito. Alaska doubled its quota
and Hawaii sul )soribed 175 peroent of its
assigned goal.
Sales of qeouritles
to
individuals,
partnerships,
t nd
personal trust accounts
fell 3 peroent short of the national obJectlve
of
millions.
Twenty-nine
$[ ,500
States sucoeedec in making their quotas for
sales to Indlv; duals, eleven of these prinolpally because of large oversubscriptions to
their E bond qi iotas.
Six States
Alabama,
Florida, Iowa, I IlEslsslppl, North Dakota, and
Oregon
exoeede d their individual goals by
at least 25 Pei cent.
Among the States with
the
larger que tas,
two States, Texas and
Southern Callfc rnla, met their goals for
Individuals.
—
—
Of the amoi int raised from sales to indivlduale, $3,1S7 millions came from the sales
of E bonds or .06 peroent of the quota set
As shown on
for the sales 3f these bonds.
the accompanylnf map, forty-four State units
North Dakota and
made their E bi nd quotas.
Wyoming made ov sr 50 peroent more than their
quotas. As showi in Table 2, eighteen States,
falling largely into two groups
a block of
northwestern ai d midwestern States and a
block of souths; •n States made II5 peroent of
their quotas or over. Maine, New Hampshire,
Virginia,
District of Columbia, and
the
New Mexico comp] ete the eighteen which substantlally exoet ded their quotas for sales of
Series E bonds.
;
I
—
—
In each Stnte a larger dollar volume of
E bonds was sold in the Fourth War Loan than
in the Third.
Hew York led with an increase
^
peroent.
Nevada, West Virginia, and
of
southern California increased their E bond
Florida
sales
by
percent;
and
and
k-f
New Jersey by '^ peroent. Many other States
were substantially above the average increase
for the nation tif 29 percent.
Table 3 supplies more detailed informaSales to Individtion on sales by States.
uals, partnerships, and personal trust aoeounte in each State are broken down into
sales of Serltis E savings bonds, sales of
Series F and t> savings bonds, and sales of
savings notes and marketable securities combined.
Sales to corporations and other investors are claiislfied by States to show purchases by Insuriinoe companies, mutual savings
banks, oorporatr.ons and associations, dealers
and brokers. State and local governments, and
U. S. Oovernmen
field agencies.
;
Demonstrating the emphasis on the Series
E savings bonds, sales of this security to
—
individuals in all but three States Florida,
Maryland, and New York
were greater than
sales of savings notes and marketable securities combined.
This contrasts with the Third
War Loan drive when individuals in thirteen
States bought fewer E bonds than savings
notes and marketable securities together.
—
With respect to sales to corporations,
all States made their quotas.
The State distribution of such sales was affected by allocations of statistical credits from one State
to another.
These allocations were made by
the Federal Reserve Banks pursuant to the
wishes of the subscribers.
Almost 70 peroent
of
the sales to
dealers and brokers were in New York, representing approximately half of the dollar volume of bonds sold to this group in the State
during the Third War Loan. Over half of the
remainder of the sales were made in Illinois,
Ohio, and California.
This also represents
approximately half of the dollar volume of
sales in the Third War Loan to dealers and
brokers in these three States.
Results of the Loan
There was only one signlfioant change in
the securities offered in the Fourth Loan
from those offered in the Third Loan.
The
prinolpal difference was, as previously noted,
the substitution of the ^-l/k peroent Treasury bond of 1956-59 for the 2 percent bond of
1951-53.
A comparison of the various features of
securities offered is contained in the
"Treasury Bulletin" for December 194^3, pages
the
8-9.
Sales of securities in the Fourth War
Loan are summarized in the following table,
and compared with sales in the Third Loan:
Security
6
Treasury Bulletin
A-
sales of marIn
total
securities predominated
In the Fourth War Loan, however, savsales.
ings bonds and savings notes together constituted 38.5 percent of the total. In comparison with 30.5 percent In the Third War Loan.
combined were
Savings bonds Series E, F, and
25.2 percent of sales In the Fourth War Loan
as against 17. ^I percent In the Third.
Ae In the Third War Loan,
ketable
noted earlier, gives deas
Table 1,
tailed Information on sales of securities
during the Fourth War Loan by issues and by
classes of Investors.
For all Investors, sales of 7/S percent
certificates amounted to $5.0 billions, which
was the largest amount sold of any single security. Sales of 2-1/'*- percent bonds amounted
Series E savings bonds toto 33.3 billions.
taled $3.2 billions and were the third largest single security sold. This was In marked
contrast to the results of the Third War Loan
when each of the marketable securities and
the savings notes exceeded E bond sales.
As noted previously, sales to Individuals, partnerships, and personal trust accounts amounted to I5.3 billions, which was
short of the
$0,2 billions, or 3 percent,
quota for this Investor class. The quota for
was a substantially
however,
this group,
greater proportion of the total goal than In
Of the total
the three previous War Loans.
purchases by this Investor group, $'}.& billions, or more than 70 percent, consisted of
In the Third War Loan, on the
savings bonds.
other hand, 56 percent of the corresponding
total consisted of savings bond purchases.
In the Fourth War Loan sales of Series E savings bonds accounted for approximately 85
percent of the total savings bond purchases
by this Investor group.
this
Marketable Issues purchased by
group totaled $1.4- billions, as compared with
A sharp
82.1 billions In the Third War Loan.
decrease In purchases of the 2-1/4 percent
bonds In the Fourth War Loan as compared with
purchases of the 2 percent bonds offered In
the Third War Loan reflected In part a reduction In speculative purchases by this Investor group In the Fourth Loan.
Insurance companies and mutual savings
banks, with purchases of ijA billions, substantially oversubscribed their quota of $2.5
Insurance companies concentrated
billions.
their purchases in the 2-1/2 percent bond and
mutual savings banks Invested principally In
the 2-1/U- percent bond.
Corporations and associations other than
the foregoing bought $6.7 billions of securities In the Fourth War Loan compared with
This
$7.0 billions In the Third War Loan.
Investment group heavily Increased their purchases of certificates of Indebtedness over
those In the previous Loans and also Insavings
creased their purchases of F and
Sales of the two marketable bonds and
bonds.
savings notes to these investors were smaller
than in the Third War Loan.
In conformity with their several legal
requirements and their desire to maintain
liquidity for post-war contingencies, purchases by State and local governments were
predominantly of the short-term certificates
of Indebtedness, which constituted 57 percent
of their total subscriptions of $789 millions.
In the Interest of uniformity a revision
has been made retroactively with respect to
the classification of sales to Federal agenfour War
cies and trust funds during the
Loans.
These sales are now separated Into
Government
two classifications:
(1) U. S.
field agencies, and (2) Treasury Investment
Investments by field agencies are
accounts.
not handled through the facilities of the
Treasury Department, and therefore are reflected In the sales activities of the State
Sales to Treasury Insales orgsmlzatlons.
vestment accounts on the other hand were not
Included In the Fourth War Loan, and are dleoussed In the article on page A-12.
A comparison of sales of securities In
four War Loans reflects the Increasing
emphasis placed on sales to nonbank Investors
and In particular on sales to Individuals.
Table 4- contains detailed data on each of the
Loans by type of Investor and by kind of security.
The table following svmmarlzes total
sales In each Loan by class of Investor.
the
Individual a,
Corporapartnarhlpa, and tions and
other
personal
Investors
trust
accounts
Var
Loan
Amount - In
March 1944
A-
counts of $1.6 billions, or 12.3 percent, In
the First Loan have gradually been increaeed
to over $5-3 billions In the last two Loans.
In the Fourth War Loan this amount constituted 31-7 percent of all sales, an amount
greater than sales to oommerolal banks In
either of the first two Loans.
The dollar
volume of sales to individuals, partnerships,
and personal trust accounts in the Fourth War
Loan was three and one-third times as great
as sales in the First.
Series E
carried
savings
bonds
the
weight of this increase, as their volume of
sales in the First Loan was quadrupled in the
Fourth.
Table 3 compares units sold and
sales of Series E bonds by denomination in
the four Loans.
The sale of nearly 70 million separate bond units in the Tourtb War
Loan, an increase of 33 percent over the
Third, reflected the intensified campaign for
sales to individuals.
The number of units
sold Increased for each denomination in dollar volume, but percentagewise
only
the
smallest and the largest increased.
The reversal of the previously declining trend in
units of $25 bonds sold in relation to the
totals of the Second and Third War Loans further indicated the greater number of persons
canvassed in the Fourth. Sales volume by denomination increased in percent of the total
sales not only for the $25 bond and the
$1,000 bond but also for the $50 bond.
fifteen months ending
securities in the amount
of $67.2 billions were sold through the four
War Loans— $57.0 billions, or approximately
85 percent, to investors other thtui commercial banl^B.
In
all,
with February
in
the
19'^'^i
Table 1.- Sales of Securities In the Fourth War Loan,
by Classes of Investors and by Issues
Class of
investor
. .
.
.
.
...
8
..
A-
Table 2.- Comparlson'of V^onl
Total
state
Salea
Ooal
miens
(In
of dcllmra)
Alabama.
Arlrona.
ArkanBaa.
12}
California-Northern.
California-Southern.
Colorado
*
U08
>
Connectleut
Eelaaare
Dlst. of Colunbla.
Florida.
Georgia.
Idaho...
Illinois.
Indiana.
Iowa
Kaneaa.
Kentuoky.
Louie lana.
.
.
Maine
Maryland
Haaaachuaetta.
Vlchlgan.
Minnesota.
Mississippi.
.
.
.
'issourl.
Vontana.
Nebraska.
Nevada
New Haapehlre.
Ne> Jersey.
.
.
New Uexioo
Ne» Ifork
North Carolina.
North Dakota.
Ohio
Cklahoma
Oregon
Pennsylvania.
Rhode laland.
South Carolina.
South Dakota. ..
Tennessee
Texas.
.
Utah
Vermont.
Virginia
Waahlngton.
feet Virginia.
.
iriBconsln.
.
.
Wyoming
Alaska
Hawaii
Possessions.
Unallocated
V
Totals for
InTeator claases... lU.OOO
s
Trcasuni L.hetiu
and Sales of Securities in the FourtJi War Loan, by States
March 1944
A-9
Table 3.- Sales of Securities in the Fourth War Loan, by States and by Classes of Investors
(In millions of dollars)
Sales to inilTlduale, partnerships,
and personal trust accounts
(Classified by securities)
Total
sales
3tata
Savings bonds 1/
Total
Series
E
5
13
1
3
21
4
12
55
17
22
1*09
184
215
27
27
28
46
225
88
1^5
129
l4l
25
9?
61
10
51
3i;
95
82
17
41
42
13
204
229
322
117
123
137
127
127
81
69
55
66
26
97
178
California-Northern.
California- Southern.
Colorado
.
It
29
Illinois.
Indiana.
Iowa
1.209
292
Kansas
Kentucky.
Louisiana.
.
.
.
Maine
Maryland
Massachusetts.
280
827
Michigan.
Minnesota.
Mississippi.
585
289
82
236
102
Missouri.
Montana.
Nebraska.
360
130
22
.
.
.
110
Nevada
New Hampshire.
New Jersey.
.
New Mexico
New York
North Carolina.
1*1*
12
8
52
14
186
781
67
1
82
13
2
62
61
11
887
176
106
60
^1
36
747
l48
65
24
12
56
57
71
3
3
51
51
67
7?
21
5i
2
16
4
6
41
1
4o
9
48
184
112
22
1*3
649
20
156
184
16
12
36
10
18
5
11
349
166
38
16
35
3
10
229
20
56
23
2
5
1
2
2
21
3
79
4
10
110
106
30
4
38
595
55
23
9
1
3
1
12
23
49
1
2
3
2
3
2
24
91
233
15
15
267
l46
1
1
19
1
10
4
11
9
68
21
17
201
15
37
4
3
1
4i
2
22
31*7
21
186
671
4
8
2
10
936
I.803
300
102
97
11
69
2
13
3Z
20
2
2
13
1
9
%
84
14
608
1*3
32
HI
51*
1
4
51
8
44
224
48
124
81
17
3
6
56
672
80
3
2
10
21
70
161
1*79
i
73
250
20
1*5
21
145
16
9
49
2
1
26
3
9
10
•
6
24
32
19
91
9
79
3
21
64
230
25
175
27
1
1
3
29
25
1
19
3
5
10
2
15
62
80
1
1*5
26
41
14
59
12^
2
2
17
10
13
70
15
16
236
9
8
1
1
7
2
2
11
2
2
21
15
4
1
1
-15
-15
11
11
5.309
3.187
336
17
100
I*
7
16,730
11
3
it
^
10
79
27
9
54
3
2
8
79
88
41
185
223
102
4
6
106
134
60
33
Total sales to
Inveetor olaesea..
51
79
1
3.824
1*0
Unallooated
6
2
3l^
Alaska
Hawaii
Possessions.
2
380
24
66
.
182
33
59
7
1
396
26
Wisconsin.
Wyoming.
372
6
12
24
24
13
27
51
^1
129
1,069
106
.
24
41
12
17
2
14
36
5
573
11,421
1.51*9
4/
1/ Savings bonds are sbovn at original Issue price.
g/ Ineludee eleemosynary Institutions.
X^ Includes their agenolss and their trust, sinking, and
Investment funds.
5/
ernment
field
agenoles ji/
3
11
Oregon
Pennsylvania.
Rhode Island.
.
%
ll
14
146
187
U.S. Cov-
5
20
22
State and
local
governments 2/
841
75
111*
Virginia
Washington.
West Virginia.
4b
13
2
36
38
72
28
CorporaDealers
Mutual
tions
and
savings
and
banks associa- brokers
tions 2/
21
696
Texas
Utah
Vsrmont
Insurance
companlee
U,665
172
24
288
60
.
61
82
51^
North Dakota.
Ohio
Oklahoma
South CarolinaSouth Dakota.
Tennessee
22
ll*
110
162
164
.
Total
42
123
Florida.
Oeorgla.
Idaho
Savings
notes and
Series marketable
Fand a securities
6e
18
38
Alabama.
Arizona.
Arkansas
Conneotlout
Delaware
Dlst. of Columbia.
Sales to oorporatlone and other Investors
(Classified by Investor classes)
44
3
2,l4l
1,262
6,747
1*33
789
Inveatmente by this group are not handled through the
facilities of the Treasury Department.
Figures do not add to the total because of minor reporting
difficulties.
Treasury Bulletin
A- 10
Table 4.- Comparison of Sales of Securities in the Four War Loems
by Classes of Investors and by Issues -^
(In Blllloat of dollar*)
Total
SMurlt7 uid
far LoAB
SaTlBga bonds: 6/
Sarlai E:
rirat Car Loan
Seoond far Loan
Third far Loan
Fourth far Loan
Serial T and 0:
rirat far Loan
Second far Loan
Tbl rd far Loan
Fourth far Loan
Tax and aarlngi notee:
Series A:
First far Loan
Serlee C:
First far Loan
Second far Loan
Third far Loan
Fourth far Loan
Treasury bills: 8/
First far Loan
Seoond far Loan
alei
to all
Inraitori
Bales
to oo*-
erolal
ToUl
buka
Salas to Boabaok iBvattor*
IndlTlduali,
D. S.
Trcaeurjr
partnerInaurCorpora- Dealsra Stat* and
Mutual tlona and
OoTsrn
Inveitahlpt, and
anoe
and
looal
ant
•avlaca
«nt
pariooal
ooaaaaoola- brekera goTarnbaaka
field
aooouata
truat
panlea
tlona 2/
anta k/ aganolaa
5/
aooounti
y
726
726
1.^73
2,472
3.187
2,'t72
2S8
667
288
667
831
1,02>»
l,02l»
216
425
565
573
87
87
66
1.652
1,248
1,652
2,483
2.232
122
132
193
183
1,67?
3,104
4,122r
5.036
121
246
366
496
76
123
136
207
51
105
119
136
,*5
472
1,220
517
240
703
894
BOl
1,032
1,028
540
561
352
1,382
1,582
1,585
1.095
483
550
1,593
3.290
5,377
5.309
1,699
2,408
2,620
2,l4l
620
1,195
1,508
1,262
3.187
2,M3
2,232
906
810
?
35
y
T
35
2t
2^2^
208"
208
329
^
i^
30
39
3,800
S,251
',122r
5.036
2,121
2,lU7
Z%. and i-l/<if Treasury bonde:
(l-3/li*.19t«)
first far Loan
(2*. 1950-52)
Seoond far Loan
(2*. 1951-53)
Third far Loan
Fourth far Loan
(2-lM. 1956-59)
3,062
4,939
5.257r
3.331
2, 061
2,122
Z-X/Z% Treaaury bonds:
(M/;<.1963-6«)
First far Loan
Seoond far Loan... (2-l/.*.lVl5/w-69)
(2-1/8!,. i;'/15/6U-69)
Third far Loan
(2- l/sjl, 1965-70)
Fourth far Loan
2.831
3,762
3,779r
1,920
21
?
^
1,126
1,520 i
2,258
1.995
^
^
2<
'»7
1,001
2,817
5.2571^
3.331
2,831
3.762
3.7791;
1.920^
86
539
897
2,021
2.779r
3.458
450
355
322
266
240
822
318
1.3'^3r
712
540
456r
253
480
158
82
241
76
Ji:
30
82
123
104
117
88
181
92
235
147
8
Total:
First far Loan.
Seoond War Loan
Third far Loan.
Fourth far Loan
12,9"f7
18,555
18,9u4r
16.730
23
12
906
810
Certificates of Indabtsdneis:
7/i*.12/l/>'3)
First far Loan
(T/H.U/l/iiIt)
Seoond far Loan
Third far Loan
(7/»*.9/lM)
(7/»)l.Z/lA5)
Fourth far Loan
1-3/W,
726
1.473
2.472
3.187
5.087
5.079
7,860
13.
V^
18,944r
16,730'
2.593
5.145
886
544
894
'»33
200
507
795
789
2
Februani 1944
A-ll
Table 5.- Comparison of Sales of Series E Savings Bonds, by Denomination
In the Four War Loans
Part A.- Amounts of Sales
Treasury Bulletin
A- 12
Security Purchases Outside the Fourth War Loan by Commercial Banks
and Treasury Investment Accounts
Conunerclal banks
Concurrently with the Fourth War Loan,
oommerclal banks holding savlnge deposits
were permitted within certain limits to subscribe to the 2-lA percent and the 2-1/2
bonds.
Such
Treasury
percent marketable
banks were also permitted to subscribe to
savings bonds on and
Series F and Series
after January 1, 19U4.
Purchase of the four bonds by commercial
banks holding savings deposits (as defined In
Regulation Q of the Board of Oovernors of the
Federal Reserve System) was permitted in an
amount not to exceed, In the aggregate, 10
percent of a bank's savings deposits as shown
on Its books as of the date of the most recent
statement required by the supervising
call
authorities prior to the date of subscribing
for such bonds, or $200,000, whichever was
less.
Under no circumstances, however, can a
bank hold more than $100,000 (Issue price) of
savings bonds (Series
Series F and Series
I9kk)
combined.
Treasury Investment accounts also
chased some of the securities offered as
of the War Loan.
Here again, however,
purchases were not Included In Fourth
Loan quotas nor credited to Fourth War
the
Treasury Investment accounts
War
Loan
sales.
Sales to Treasury Investment accounts
totaled $350 millions and consisted entirely
of the three marketable securities -- the 7/8
percent certificates of indebtednese and the
2-X/k and 2-1/2 percent Treasury bor'.s.
Securities purchased
The details of the extra-drive purchases
of Fourth War Loan securities are shown In
the following table.
DeecrlptloD of
eecxirltr
,
Purchases of these four securities by
oommerclal banks holding savings deposits
totaled $6lS millions during the Fourth War
It should be noted that these purLoan.
chases were not Included In Fourth War Loan
quotas nor credited to Fourth War Loan sales.
purpart
such
Conaerclal
TreasorTbasks
inrestholding
ent
eaviage
accormts
deposits
(la Billions
of dollars)
l/t$ Certificates of inde'btediied
2/lh5
11
2-l/ki Treasury tonds. 9/15/56-59
2-1/256 Treasury bonds, 3/I5/65-7O
Series F saTin|;s bonds
Series
savings bonds
3U
Total
6I8
35
81
82
257
188
350
During the period of the Fourth War Loan,
Treasury Market Refunding Operations in March 1944
In a single large-scale operation, the
Treasury refunded on March I5, 19'*^ securities which were outstanding in the amount of
|l*-,
These securities consisted
730 millions.
of all notes and bonds becoming due or callable between March I5 and June 15, 19^-.
There were seven separate Treasury and guaranteed issues Involved in the refunding and
three Issues were offered In exchange.
Description of old and new securities
Descriptions of the seven maturing secu-
March l'H4
Titles are shown In the following table.
Description of
security
A- 13
^March 1944
SUMMARY
OF
FISCAL
STATISTICS
Treasury Bulletin
Budgetary Receipts and Expenditures
(In ailllou of dollars)
First 8 Bontba,
ft teal 7*«ri 19>t3 to 19UU
CoBoleto fUcml r»»ri,
19''1
to 19U5
•^•tlaatsd
V)U3
I9U3
19W»
Chan^
1/
Chaac*
I9U3
Iitliatrd
19'A to
otlsated catlaatsd
I9UU 1/
19'*5 1/
Actual
to
19UU
I9''l
19U2
I9U3
I9UU
I9U5
19''3 to
Recatott:
Interaal reveaua:
tilC9a* and
orofUi tazoa ?/
2,2>40
laployaent raatai
5.617
18. 860
13.3^3
3.1»70
7.960
16.091*
33.673
33.605
15.579
-68
1.061*
1.326
+163
935
1,186
1.1*98
1.870
3.169
373
•1.399
3.610
3.1a
3.55^
1133
3.967
3.8117
i'.553
5.161
5.I6U
eog
+3
Custoas
867
190
38U
95
393
389
33U
U30
U38
96
*18
Othor racalpti U/
179
}S0
3,386
+1.966
515
386
916
3.U55
3.050
+1,538
-1*05
6.130
10.313
36.310
+15.898
8,369
13,668
J3.385
1*3,578
1*3,1*35
+19.193
+8U7
3,656
Mlicellanaoui Intarnal roTenue ^Z-
Total racelpta.
traniferred to Tedaral Old-A^e
aad SurrlTora Inaurance Trust Fund ^/.
iao'in'.B
639
799
918
+119
661
S69
1,103
1.393
*359
1.361*
5.503
9.513
35,393
15.779
7.607
13.799
33.383
U1.IS6
1*0.
769
I8.9OI*
-^n
Var Deoartaant
7.186
37,373
33,181
lt.909
3.678
ll*,070
1*3.265
ltg.790
"•7,597
SaT7 Sapartaent
3.917
11,503
16,833
+5.320
3,313
8.580
20.888
27.000
28,500
6,535
6,112
1,500
Kiacellanaous war actlTttlas
1.1*73
5,056
7.517
+2,1*61
310
3.362
8.955
11.910
11,1*53
3.955
-'•57
800
650
800
-150
-300
Set racalpts
txDeadltures:
6/
Var actlTltlas:
Anttctpatad aupplaaantal appronrlatlona.
13.576
i»3.830
56,521
+12,690
.301
36.011
73.109
88,500
88.300
16.391
Tatarans* idslnlatration j/
369
U02
1*23
+19
563
556
603
873
1,367
+371
393
Putllc »orka 8/
U70
395
316
-80
738
680
5'»3
569
387
36
-182
860
7UU
557
-186
.335
1.163
891
6U7
-373
-SVn
U79
550
603
+52
659
735
796
777
61
-19
Work Projects Mclnlatratlon
68713/
261
16
-3U5
97012/
299
11
-388
-11
ClTlllan Cons^rratlon Corps
127
-1*
601
611
766
155
81*1
873
901
1,1*90
2.881
569
S06
1,21*3
+U37
,111
,360
1,608
3.650
3.750
170
"•5
589
8U3
170
Total var actlrltlaa
Aid to agriculture j/
Social Security prograa
Other
U/
ly
iDterest on the public datot
'
-1.193
+J*
93710/
588
.371* 13/'
257
163
Anticipated supplemental appropriations.
Total expenditures 6/
Wet budgetary deficit 6/
Souroa:
•
1/
3/
^
U/
^
6/
7/
-18
18
1.391
1,100
-125
16.739
"•7.597
60.1*1*3
+13.81*6
13,711
33.397
78.179
95.951
«7.95''
+17.773
2.003
11.338
38.085
35.151
-3.933
5.103
19.?98
?5.897
''.765
57.18'^
-1.13:
2.U20
Dally Treasury Statasenta. except as noted.
Laaa than $500,000.
Baaed upon aetlaates aa shown in the 19l*5 Budget.
Beginning July.
InclTidea unjust enrlchoent tax and Tlctory tax.
191*3. Includes collectione of taxea withheld by employers under
^^^ details see following
the Current Tax Ps^aeat Act of 19l*3chapter on Receipts and ZxpandltTires and Appropriations. Table 2.
Inclines chiefly alcoholic beverage taxes, tobacco taxes, aanu/acturers' and retailers' excise taxes, and estate taxes.
Includes deposits by the War, Havy. and Treasury Departments and
the U. S. Maritime Coanlssion resulting from the renegotiation of
war contracts.
Information on the amount of such deposits is not
aTallable on the baeis of Daily Treaeury Statements, Cn the
basis of coTering warrants, such deposits totaled $558 millions
during the fiecal year 191*3* Budget estimates of such deposits
for the fiscal years 19W* and 191*5 are $1,313 millions and
$1,733 allllons. respectlTely.
Tot explanation, see tables in next chapter on Social Security
prograa.
Ixcludea expenditurea for public debt retirements which are charg*able to the sinking fund, etc. under spacial prorisiona of law.
Includes expenditures classifisd as transfere to truat accounta.
etc.. for the Adjuated Serrloe Certificate Fund and the National
8/
Serrloe Life Insurance Fund.
Includes Public Vorlcs transactions classified aa PeTolviog Funds
(net).
^/
10/
11/
13/
IJ/
Includes Aid to egriculture transactions classified as ReTolvlng
Funds (net): expenditures of the Department of Agriculture claaaified aa Departmental in the Dally Treasury Statement: and Agricultural Marketing Adminiatration tranaactions classified as transfers
to trust accounts, etc.
Represents gross expenditures of $1,353 millions less repaymente of
U. S. investments in capital funds aggregating $313 milllr.ns.
Includes expenditures classified as transfers to trust accounts,
etc. for the Railroad Retirement Acccjnt and the Railroad UnemployExcludes expenditures made hy
ment Inaurance Administration Fund.
Office for aaergency Management, War Manpower Commission (U. S.
Snployisent Service) under authority of the Social Security Act.
Includes national Youth Administration.
Includes departmental expenditures not otherwise classified and
expenditures classified as transfers to trust accounta. etc. for
Budget estiOovernnent employee retirement and Inaurance funda.
mates for 191*1* and 19U5 Inclule $3 millions and $1,000 millions,
respectively, representing transfers to public debt accounts for
excess-profits tax refund bonds.
March 1944
Public Debt and Guaranteed Obligations Outstanding
Treasury Bulletin
AND EXPENDITURES
AND
APPRO PRI AT IONS
RECEIPTS
March 1944
Appropriations and Net Contract Authorizations for the War Activities Program -^
As of February 29, 1944
Detc
approved
Public
Law Ho.
Title of act
76th CoogreBB, Third SoBBion
Mar.
^propriatlons
Net contract
authorizationa 2j
Treasury Jjuiietui
Ad: -oprlatlone and Net Contract
1'
Authorizations for the War Activities Program-^
As of February 29, 1944
Stte
^proTod
Potlle
Ln
So.
Title of
3,
(Continued)
ut
78th Conceit,
K>r.
-
IpproprlAtlona
Tint Setilon
Vst contract
uthorltatloaa 3/
March 1944
Budgetary Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In mllllonB of dollars)
Receipt!
OroflB
?lBcal year
or month
TotAl
receipts
receipts
Intern*!
rerenue
2/
3,116
3,800
U,ll6
193"*
1935
1936
1937
1938
1939
2.61*1
313
3.278
3.513
3''3
't.597
5,67l»
Expenditures l/
Lest net amounts
transferred to
Net
Inderal Old-Age
Total
Other
and Survivors receipts ezpendlturei
receipts Insurance Trust
TanA l/
162
179
216
210
208
188
273 a/
515 2/
286 2/
Transfers
War ac- Hevolvlng to trust
funds
General tivities
accounts,
(net)
etc
i/
6/
6,011
7.010
8,666
8,177
7.239
8.707
8.998
12.711
32.397
78,179
l*,908
535
661
S69
1.103
3.116
3,800
U.116
5.029
5.855
5.165
5.387
7.607
12,799
22,282
531
689
1*96
,986
.595
900
929
1,029
1,206
1.657
6,301
26.011
72,109
11
31*6
5.770
5.900
5.935
6,U37
debt
retirements
1/
2/
§J
121
77
76
1,820
6O8
225
92
187
3'*5
2.896
3.209
1*.550
5,66g
5.925
8,269
13,66s
23,385
5,lSl
5.303
7,362
12.993
III
359
319
3U9
392
389
22,114*
32I*
1,190
5.207
1.075
5. IS*
26
32
89
21
235
995
6,119
1
5.206
7.35'*
601
6,71*"*
April.
HtJ...
Juae.
1.555
l.T^S
1.396
1,581
32
37
127
1*1
I.51I*
7,1*66
U39
262
1,1*80
7.1*35
328
li*
1
'*.569
'»,211
3U
121*
32I*
6.97U
7.092
'*,569
8.327
81*6
7,1*69
10
1
Jul7
August ....
September.
2,0llg
33
39
31
201
1*1
337
365
583
31*1*
231*
7.112
7.617
7.535
-1
361*
2,007
2.721
6,1*32
3,005
1,815
3,602
5,160
7.232
6.952
5
15
-2
2
5.105
4.396
2.087
October.
NoTeaber
December.
2,069
2.370
5.737
1,813
2.115
'?
2.030
2.099
5.736
7.'*56
7.839
1*38
30l»
7.5'tl
5,1*26
5.71*0
7.'»52
7U0
6.718
-7
-8
-8
36
2
31*
218
221
220
39
271
5,l*«Il
2
1,716
2,
2,188
uo
35
551
255
32
250
2,71*7
7.570
7.862
1*00
7.138
7.518
-6
-3
37
1»,323
5
5.359
igito
igUi
iS^s
19'*3
19U3-J*bni«ry.
March
.
.
.
igltlt-Jsnuary...
February
Source
*
1/
.
5."^
2,
7^
2,U61*
265
387
503
9162/11
257
5.'tlt7
1
2,503
Dally Treasury Statements.
Less than $500,000.
Excludes amounts for public debt retirement which are chargeable
to the sinking fund, etc. under special provlalons of law.
7or further details, see Table 2.
Tor explanation see tables which follow on the Social Security
program.
For further details, see Table 3.
For further details, see Table u.
Also see footnotes
For further details, see Table 5and kj
Total expenditures less net receipts.
Represents eipendituree for public debt retirements which are chargeable to the alBklns fund, etc. under special proTlelons of law.
^
i
^
5.861*
7.221
7.055
6,21'-,
10/
6.989
31*2
201*
3.149
1.381*
3.51*2
13
232
331
381
1*0
>*35
3.611
5.103
19.598
55.897
1
2
5.16I*
7
1
2.11*7
16
38
5.952
5.955
3.758
-136 10/
Public
Net
budgetary
deficit
360
571*
1*01
lou
65
58
'^
95
3
Such
Includes recoveries of tT. S. investments in capital funds.
recoveries totaled $5U millions in the fiscal year I9UO: $3ig millions in the fiscal year I9UI; $18 millions in the fiscal year 19U2;
and $10 millions in the fiscal year 19^3Receipts from reductions In capital stock and paid-in surplus available to be reissued under existing law are Included as negative
items under expenditures.
Such reductions totaled $l6o millions
for general expenditures and $155 millions for revolving fuJida during the fiscal year igUl.
Includes deposits by the War and Navy Departments and the U- S. Haritlme CommlBsion as a result of renegotiation of war contreu;ts. On
the basis of warrants Issued, such amounts totaled $358 millions.
10/
11/
Table 2,- Analysis of Receipts from Internal Revenue^
(In millions of dollars)
Income and profits taxes
Smploynent taxes
Social eecurlty taxes
Withheld by
employers (Current
Tax Payment
Act of 19U3)
Fiscal year
or month
2/
2,6Ul
3.278
3.513
818
1.099
813
1.099
1,1*27
1,1*27
't.597
2,163
2,163
5.671*
2,61*0
2,61*0
2,189
2,125
2,189
2,125
3.'*70
3. '•70
191*2
5,161
5.303
7.362
12.993
7.960
7.960
833
925
1,186
1943
22.11*1*
16.09I*
16,091*
193"*
1935
1936
1937
1938
1939
1940
191*1
^
Federal Insurance Federal Unemployment
Contributions Act
Tax Act
(Old-age
(Unemployment
Insurance)
Insurance)
Other
Carriers' Taxing
Act of 1937
(Railroad
retirement)
Miscellaneous Agricultural
Internal
adjustment
revenue
taxes
1.1*70
253
755
19U
71*0
1.1*98
530
60U
691
396
1.130
108
93
120
158
58
90
101
511*
150
109
1.657
2,010
2,181
2,279
2,232
121
137
170
2,3'*5
209
'*.553
3.31*7
1.075
380
380
3'»3
237
99
7
352
5.151*
'*.732
l*,732
Us
3
3
1*2
37'*
April.
Hay...
1.396
1.581
1.000
1,000
'•3
3
3
91*0
91*0
50
282
265
12
6
June.
1*,211
3.803
3
U9
July
August ....
1,815
2,602
5.160
1.255
19
1,561*
l*,765
51*8
1.303
5.0W
557
1,010
713
1.727
I.7U7
1.137
September.
October..
NoTember.
December.
191*1* -January...
February
oe;
•
1/
2/
.
I
Ms
803
55
3
1.236
1,016
H.091
1*8
1*4
1
310
50
287
3
15
71*6
1*6
1*2
3
27U
U
3.
67'*
571*
3U6
359
353
512
729
1*6
3l*U
1
l*6U
10
3
1
53
363
386
1*1*9
292
U.327
58
1.153
610
1*9
31*
11*
1
1*12
373
252
117
1*
31*1*
Dally Treasury Statements.
Lets than (500,000.
For further details, see chapter on Internal BeTenoe Statistics.
Includes unjust enrichment tax and victory tax collections pursuant
to Bevenue Act of I9U2.
^
77
2,967
March
19l»3-Tel>ruary.
353
521
For the period prior to September 1939. the data in the coluflme entitled Federal Insurance Contributlone Act and Federal Uhemploysent
Tax Act represent collections under Titles Till and IX, reepectlTely. of the Social Security Act.
..
Treasury Bulletin
Budgetary Receipts and Expenditures
-
(Continued)
Table 3.- Analysis of General Expenditures
(Xd Bllllona of dollar*)
Dlroct and vork relief
Votorasi'
or sontb
Total
Aitsloif-
tratloD
1/
2/
Public
Vorkt
2/
2/
Aid to
agriculture
2/
!i/
Social
Security
prograa
2/
5/
Work Project!
Adslnietratlon
and Katlonal Touth
AdalDletratlon
y
U,90g
5.900
5.935
ISS"*
1935
1936..-;
1937
193«
5n
5.86U
1939
19U0
19U1
19US
19113
March
April
tU7
Jone
July
Ancnet
Septeaber.
.
.
October
loTeaber
Oeoeaber
.
.
.
.
.
ISUU-Janoary...
February.
u/
507
557
578
582
5U9
679
685
8O3
670
U29
930
966
988
866
900
890
1.237
715
669
5U5
1.006 10/
1,091
1,052
7.221
7.055
6.?i5
5.986
5.595
557
557
553
555
572
3U6
601
Ug
U9
U39
328
8U6
Ug
35
22
U8
Itl
365
583
U9
52
lt38
U9
30l<
50
71*0
51
uoo
3U2
52
52
I.5W
ber-
Ads loli tret Ion
and ClTll Vorki
Admlalatratloo
1.896
513
831
U95
-X
1,1<72
ll
,2><0
2
i572
.37U
1
29
IBU
335
1.26>t
3U7
392
1^7
ClTlllan
Cooaer-
atloD
Corpe
Interest
on the
public
debt
Other
departmental
5/
other
ceneral
expendIturet
2/
33?
ui6
U86
386
326
866
926
290
283
257
163
18
9U1
l,OUl
1,111
1,260
1,808
517
5U6
757
313
821
36U
U2U
510
7't9
U81
5u2
590
509
283
258
223
200
191
227
216
220
197
51U
970
299
111
127
26
38
19
16
35
262
''5
101
85
58
60
37
15
11
89
59
70
16
lU
27
66
65
U
68
US
1
U6
71
59
53
33
1
311
77
55
15
19
16
87
67
55
131
56
^5
25
U97
ll
12
15
10
37
30
86
92
^
u
58
59
lU
19
''5
"9
38
8
3
50
609
>'7
Daily Traaavry Stateaenta.
Leea than t30C,0OO.
Includes public ^orks ondertakieD by the Veterans' Administration.
Does not Include expenditures for (1) reTolrln^ funds or (2) tranefere to truat accounts, etc. These are ahovn in Table 5Includes public buildings, public hlghvaya (Includloc forest roads
and trails], rlrer and harbor work and flood control, Tennessee Talley Authority, federal Public Eousine Authority (formerlj U. 3.
BouaiD^ Authority), reclaaation projects and the Public Vorks Adalnistration. Xzcludee certain expenditures for public works in connection with war aotlTltiea by the federal Works Agency, beglnninc
July I9U1.
Coaprlsea Agricultural Conservation and Adjustaent Adalnlatration
(classified in the Daily Treasury Statoaient under "Var food Adainistration. Other" coaaanclng October 19^3) Agricultural Marketing
Adalaistration, CoKiodlty Credit Corporation, Para Credit Administration, fsderal Para Mortgage Corporation. Pederal land banks. Para
Security Administration, Pan Teoant Act, Rural Xlectrlfl cation Administration, and Department of Agriculture departmental expenditures.
Includes rallroMi retirement and railroad unemployment actiritlee
and exoludes expenditures made by Office for fttergency Management,
6/
jj
S/
2/
•
5/
7ederal
gencjr Belief
10/
18
10
War Manpower Commlsaion (D. 3. Brnployment Serrice] under authority
of Social Security Act.
Por further detallt, see tables which follow on the Social Security program.
Work Projects Adalnletratlon was formerly Vorks Progress Administration. Beginning with July 19l*2. expendlturea for the Hatlonal
Touth Administration are shown In Table U.
Includes expenditures of the Reconstruction Plnanoe Corporation for
relief through loans and grants to States, monlclpalitles, etc.
Kxdxidee expenditures for the U. S. Maritime Commission, departmental expenditures under the Social Security program and the Department of Agriculture departmental expenditures.
Office of Bducatlon, and
Includes expandltures for the following:
Public Health Serrice of the federal Security Agency; refunds of
taxes end duties by the Treasury Department: Post Office Department
postal deflcleacles; federal Housing Administration; Treasury Department InTestments in federal ssrlngs and loan associations; certain expenditures of the Panama Canal; and capital stock of the
federal Deposit Insurance Corporation, Home Owners' Loan Corporation, fsderal home loan banks, and Disaster Loan Corporation.
Oross expenditures hare been reduced $l6o millions representing the
repayment of coital fujvls by certain United States OoTemDent
for further details see "Treasury Bulletin" for June
agencies,
191^3. P««« 9> footnote 12/.
March 1944
Budgetary Receipts and Expenditures
(Continued)
-
Table 4.- Analysis of Expenditure for War Activities
(In
lllloM
of dollar*)
Hltoallaneoua war activities
Var
Dtpart-
Fiscal year
or Donth
Total
miscellaneous
war ao-
Dapart-
•nt
«nt
tintlai
A«rlcnltnr*
Depart
•nt
National Selective
Federal Federal
Housing Service Treasury
Security tforlcs
A^noy (adiDlnlt- De partA«ency Agency
Kent
trBtlve)
y
United
States
Shipping
Karltlma MDlnl»CoQclssion
tratlOD
2/
193U.
531
2U3
297
19351936.
19371938-
6«9
900
929
029
273
383
378
U36
529
1132
596
1
1
1939-
8)6
Uso
667
3.678
lit, 070
673
Wt
Ut
310
3.362
8.955
3
62
696
2.011
111
lt2.265
892
2.313
8.580
20. 888
191*0.
,657
igltl.
6,301
26.011
72.109
19't219't3.
557
99
153
297
60E
12
17
39
55
5
61
77
6
3.239
3.985
2.002
2.053
528
705
12
17
April
M«7
Jane
6.97U
7.092
7. "69
3.727
3.857
3,U2U
2.102
2,251
2.980
l.lUs
9SU
1.065
51"*
382
318
26
33
July
August
3,808
U.219
't.036
1.898
2.037
1.909
726
976
1.007
12
180
239
2"*
Septemb«r..
6,U32
7,232
6.952
Octobsr.
NoTember
December.
6,989
7.5^1
6,718
U.1U2
1.173
3.8U1
1.955
2.13U
2,050
892
1.235
827
176
332
15
25
7.138
7.5I8
U.170
3.792
2,082
2.757
886
969
I'M)
18
17
.
.
.
.
.
.
glA- January
February
.
.
.
.
18
33
'•5
62
215
5.770
6.7"*
.
to
-10
-21
-12
-6
March
19't3-febru«ry.
1
-10
-21
-12
-6
Oth*r
war
actiTitlfi
CbiOA
•zpsndIturei 2/
lid
27
2U
19
21
ISU
Dally Treasury Stateoente.
Source:
For Bonthly flfurei comenclng July 19^0, aee "Treaenry BullaBack nguree;
ttn" for Hay 19't3. !>•«• 7.
•
Leae than $500,000.
Inoludea war public >\oaeln£ funotlont.
1/
Includaa aaerg«noy riilp oonatructlon. ba^nnln^ March 19U1
2/
52
5
2U
519
1.201
99
51
929
2.776
132
1,105
79
103
223
285
103
59
98
2U8
69
92
315
116
1^
319
361
105
119
366
130
85
81
69
29U
200
UO
68
108
382
795
70
5
5
120
106
117
72
6«
50
5
5
5
95
118
llU
t
5
1I02
lUg
216
39
5
100
111
108
356
l61t
66
91
82
125
127
308
331
153
182
87
71
5
U2
38
It
5
2lt3
Siallar Itaai for perlodi prior to flecal year igltl ore claaaiflad
under Other dapartsental and Other general eipendlturei In Table 3.
iBoludei war expenditures of CoBneroe. Jaetlce. Interior, and State
Departaents; CiTll Service Coomlislon; beautlre Office of the
President (Including Office for laergency Kanageaant ) Fanaaa Canal;
cs^ltal stock of Saaller War Plants Corporation; aui Dafenee Aid
Special Fund.
:
Table 5.- Analysis of Expenditures for (1) Revolving Funds and
(2)
Transfers to Trust Accounts, Etc.
(In allllons of dollars)
RaTolTlng funds (net) 1/
Fiscal year
or aottth
Aid to
agriculture
2/
13Jk.
1935.
1936.
19371938.
121
1939-
92
11
20lt
Transfer! to trust aecoonts, etc.
Pabllc
works
Veterans
IdBlnlst rat ion
i/
y
3U6
lUi
-33
-18
-13
1U9
20U
hk
221
-8
-6
101
59
23
13"t
77
76
1.820
6O8
225
187
232
331
381
"35
igito.
5'<
19U1.
-136
19't2.
18
7
11
191*3.
Uo
Ul
-1
1
-1
8
2
16
lU
38
19U3-»Bbruary.
March
7
16
lU
10
April.
May. ..
June.
-159 1/
10
-2
-2
2
October.
NoTeaber
Decsaber
-7
-8
-8
-7
36
.
.
-6
.
-3
igltlt-january
.
February
.
•nployees'
retlrenent
funds
(n. S. share)
Aid to
agriculture
6/
Tederal
contribution to
District of
Coluabia
(t;. S. share)
21
21
Ul
U7
50
50
1.773
557
10
1
11*6
73
107
121
132
75
87
93
W5
221
30
18
lOJ
107
91
126
71
177
-1
35
1
1
-1
.
Social
Security
progra* 5/
1
July
August
Septeaber
5
Ooremnent
*
-5
31*1*
5
15
161
12
3"
2
2
3t
37
-i
5
Dally Treaeury Statements.
Less than $500,000.
Additional transactions on Aid to agriculture and Public works are
ehown in Table 3Para Credit Adainlstration.
Public Works Adaialstration.
Coaprlees Adjusted Service Certificate Pund and the National Serrlce
the Veterans' Adalnlstration.
Life Insurance Pond, adalnistered
^
5/
!^
Includes railroad, ratlreaent and railroad nneaployaant aotlTities.
For fxirther explanations see tallies which follow on Social Security prograa.
Agrioaltural Marketlog Adainlttratlon (surplus coBBodity staape).
arose expeoditures have toeen redtued $13^ lllloas ropreBontiag
the repayment of capital funds by oertaln United States QovanuMnt
•genoias.
For details see footnotes to Table 1.
Treasury Bulletin
10
Bud^tary Receipts and Expenditures
-
(Continued)
Table 6.- Totals by Months, Beginning wltb 1935
(IB alllloat of
J*B.
T»t.
Mar.
Na7
ijpr.
•t
dollvi)
Job*
July
8«pt
.
Oot
.
lOT,
tadfatarj r*o*lpta 1/
19351936.
1937.
203
328
239
ZlH
218
230
601
752
967
228
231
318
2l>6
256
290
529
828
W21
1938.
1939.
19U0.
29h
271
315
308
367
916
687
7?9
262
213
504
373
3*7
Uoo
77H
557
191*1.
19'i2-
1.566
3.5^7
5.206
565
695
I.51U
1.276
1,>I80
19l|it.
2.7"»7
5UI
758
955
2.503
39H
563
19^3.
3'W
578
788
2 '•92
367
265
331
678
676
711
7>»7
1.135
2.S27
2,007
3'
235
272
292
23H
U3lt
3.857
>«.372
286
517
823
672
521
7K0
5.650
».918
1,212
2.701
5.736
8,3U9
16
5.798
300
279
333
36>»
5.W7
607
2.030
601
2.099
570
676
632
632
677
565
^62
607
716
635
6,682
9,244
7,754
362
5*
5.83'»
M)
3''.55'»
Bnd^tajr7 •xp«iulltnx«s 2/
19351936.
1937.
U82
521
1938.
1939.
1*92
19110.
19U1.
19U2.
19UV
19U*.
599
631
695
766
U7U
6l2
668
820
822
631
730
783
566
656
712
1,111
2,628
6,372
7.570
1.075
2,629
6,119
7,862
1.399
3. 421
7.35*
1.315
3.7K!
7.466
l.lUl
3.953
7.435
539
705
Hat
1935.
1936.
1937.
1938.
1939.
i960.
1941,
1942,
194V
1944.
693
Use
546
279
293
300
51U
^igtfrj
2,427
1.253
561
656
635
424
574
517
887
818
706
718
741
759
737
721
869
646
64e
817
830
832
1.172
8,097
8.885
9,657
1.528
•.530
8,327
1.598
5.160
7.112
1.529
5.215
7.617
1,874
5,931
7,535
2.083
1,858
6.363
7,839
2.542
6,500
7.452
19.053
56.020
88.084
930
895
d«flclt 2/
7^
Siarch
l'M4
11
BUDGETARY RECEIPTS AND EXPENDITURES
1939
1940
1941
1942
1943
1944
DOLLARS
Billions
JMMJSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJSN
.
..
...
.
12
Treasury Bulletin
Trust Account, Etc. Receipts and Expenditures
Table 1.- Trust Funds
(In oillloDi of doll&ri)
7tic*l jrtar
or aoath
Total
fMndi,
not receipt* ()
or net ezpeodltorat (-)
tmot
Federal 01d-A«e and
SurrlTori loiuranca
Truat Fund
at
Racalpta
UnanploTvent
Truit Tond
IxpoDdl'
Recaipta
tiara a
Railroad
Ratlraaent Account
Xxpandlturaa
Racelpta
Other
traat aecounti 1/
Xxpeodl'
turea
Set
2U
«£)>
193519361937.
1938-
*&i
3U
19
11
19110.
19l»l.
19U2.
tie
19>»3.
92
3
9
6
-260
March
837
957
1.118
1.2>tlt
I.2M
1.190
.185
1.399
l.liOU
262
26U
10
22?
19U3-To»iniai7
838
959
l.llU
9ltO
529
577
707
931
1
29
37
1939-
29U
763
19
29U
751
19
267
uos
267
530
580
717
>«1
+236
-272
235
41
Ul
262
April.
>Uq
H«jr...
266
+2ll«
June.
-279
-287
2
92
IK)
270
Ul
28U
Septenher.
-265
-289
Octoher.
HOTeabar
Daceshar
.
52
2U
.
210
.
-262
Ao^at
.
.
.
+1
lOt
It
1
313
31
256
39
271
15
15
-292
3
295
32
250
116
50
28
150
I3U
ca:
•
1/
35
277
81
1
.
.
1
Ik
lU
289
Tehmary.
19Uli-january
It
1U8
1U6
-U
109
123
127
lUU
221
107
125
116
2U
35
20
57
88
lUlt
217
-11
+11
33
371
275
Jul7
27>»
3"
20
-5
5
-1
-ko
-3
32
35
275
88
u
U2
3O8
36
161
37
291
83
31
291
3't
36
76
267
35
6
165
15
11
55
26U
210
237
23'
301
.053
858
323
2.020
838
327
'^
325
331
512
975
887
U7
82
58
71
91
f5
67
lUi
316
101
116
100
87
-11
139
77
llU
117
123
125
63
19
16U
121
101
102
1
22
-U6
3U
Ixpendltorea
82
152
28
''3
Recelpta
261
Dally Treaaury Stateoenta.
Leaa than $500,000.
iDcludaa OOTemaant inaxurnce and retlreaent fundi, etc.
Table 2.- Other Funds
(In mlllloDa of dollara]
Tranaactlona In checking account a
of Oovemaent agencies, etc.
yiecal year
or BODtb
I a Buanc a
Total all
tranaof ohllgaactlona
tlona 1/
193U.
19351936.
1937.
1938.
-73"
1939.
19W>.
19UI.
768
1.106
3U
288
852
637
108
3IU
20U
Other
tranaactlona
-5:
-337
-25'»
19't2.
19''3.
-2.19'!
-I.8O9
-658
-1,069
-I.815
-1.535
March
-370
-300
-25
-11
-3U5
-289
April.
May...
-17
-356
-U
-290
-2
83
82
June.
July
Auguit.
-726
-11*8
-381
-3
SepteDtier.
-IU6
22
-1U3
-168
October.
NOTeober
December.
2
-201
-2
66
-U27
-3
-U2U
-165
-331
-18
-115
-1U6
-216
.
.
.
.
I9W*- January...
February.
-1*03
-99
I
-217
-3.625
19'«3-I*hTO«ry.
Ie<
+8I:
-11:
I
Seigniorage on allver
Incraaent on gold
Receip
E]q>andl-
turee
Hat
Beealpti
ito
176
lUo
176
uo
Mlacellaneoua funds
and accounta 1/
Ixpendlturea
Recaipta
2.000
kok
101
52
uo
90
90
"9
20
lU
90
90
U9
20
lU
2
Z^endlturea
March 1944
15
Means of Financing Cash jRequlrements
(In mlllioaB of dollars)
Fiscal year
or month
8
...,.
..
.
U
8
3
U
U
5 3
U
s
Treasury Bulletin
Xk
Social Security Prograa
Section I.- Budgetary Receipts and Expenditures
Table 1.- Social Security Act
(In allllon* of dollars)
R«c«lpti
Oroat ree«lpta
fadaral DbaaployaaBt
Tax Act
(ObaaplojaaDt luurmea)
I&auranoa
CoDtrl^tloni Aot
(Old-a^ laauraDca)
7a<l6ral
y
1936
1937
193*
1939
19S0
252.2
60U.U
631.2
712.2
788.2
1.015.6
1,288.9
I9l»l
19UJ
19>'3
19U3-r«kni«r7.
Karcb
690.6
895.6
.130.5
158.it
265.0
387.0
503.0
537.7
661.3
868.9
1.103.0
236.7
2.9
99.0
3.2
23U.9
1.0
''6.7
"13.
ltO.8
276.2
5.9
26U.
3.3
11.7
3.1
60I..7
2.
3.0
10.5
1.1
1*8.1
TBhmmrj.
368.7
33-8
252.2
lU.2
116.5
.
3.
5.8
262.0
.2
38.9
271.0
UI.5
273-6
3.7
.
"•3.
5-1
lit
6.0
10.9
3.9
UU.6
28U.1
U.8
.
126.9
1U6.7
165-9
U0.8
283.8
Octobar.
HoTeabar
Decaobar.
.
128.2
17'».5
3.2
8.1
1.1
286.
.
100.9
217-'*
5-7
U6.8
29^-7
U.i
.
-12.8
.2
Sapt«Bb«r.
Julj
^
57.8
90.1
100.9
107.5
97.7
119.9
51U.U
530.
6.1
Ret
r«c«lpti
2/
l9'»-3
335.8
April
M«T
Jon*
Ao^tt
!«•• ^oQBti orodltad to
f«d«riJ Old-A^ and
SnrTlTori Insuranc*
Trust fund
Social Sacurlty taxat
riical 7«a
or Bonth
.2
5.7
13.1
3.8
1.1
16.2
31.
250.2
118.
Xxpandlturai
Oracti to Stataa
Public
Eaalth
Serrlca
Social Security Board
Tlacal jear
or aontb
1936.
1937
1938.
1939.
Total
Uneaploj01d-a«e Aid to
aailit dapandant
anca
cblldran
28. It
.6
182.7
332.5
3^3-3
15.8
20.0
21.3
25-3
31.5
31-5
33-3
166.9
271.5
320.3
356.5
UI5.2
t69.6
26.3
39.9
27.2
i9ito.
38lt.2
19U1.
I«>t9.l
.U
I9lt2.
50U.I
.It
191*3.
527.2
19't3-»»bruar7.
AdBlniltratlTa
axpanaaa
27.
1*91.1
19-7
12lt.g
182.2
208.8
227.6
260.1
299-1
316.9
2.0
1^.3
25-5
U5.'lt
63.2
69.
67.3
Aid to B«nt COBtba
panaatlon
blind adulnlatratlon
1.0
U.6
5-2
5-3
6.2
7.1
8.0
8.5
9
9.1
U1.9
58.9
58.3
63.0
70.3
55.1
I^jbllo
health
work
2.1t
7.8
8.9
8.0
9.t
10.8
U.U
10.7
Office for
Saergancy
Dapartnant of Labor
Hana^ment
Katamal Sarricat
and child
for
health
crippled
•arrlcaa children
1.0
3.1
3.8
3.7
U.8
5.5
5.9
6.5
u.u
3.2
.U
.2
.6
.8
1.7
.2
Var
Manpower
Child
velfara COBBlSelOD
aerrlcaa
(n. S.
Zsployvent
Serrlce)
.6
.2
2.1
2.7
1.0
l.U
1-5
1-5
1.5
1.6
1.6
3.0
3.3
U.O
U.O
3.8
Refunda
of
t&zea
Sxcaaa
of
expandituree
^
28.
Ui.o 6/
1.8
20.7
2.6
3.5
2.8
3.8
6.5
.2
.2
195-5
115.1
215-1
209.7
322.5
357.8
3^1.
-71.6
March
lt3.I1
2.8
3.3
April.
61.6
39.0
16.U
3.0
2.9
3.0
58.3
35-8
13.1
38.6
25.3
9.6
8.2
1.0
lt-7
2.1
.5
^:^6
.8
.1
.3
.2
.3
i.i
.5
.u
.8
59-9
52.6
32.9
2.8
2.5
2.9
56.8
U9.8
29-7
Ul.l
32.8
25-3
7.1
6.5
2.8
1.2
3.6
7.0
2.2
1.1
-3
.7
.6
.
56-9
53.7
5-2
1.0
1.2
.5
.9
.2
to.
36-1
29.2
18.2
6.1
.
2.9
2.2
2.8
2.1
•
.1
.1
20.lt
2.2
2.7
56.1
2
15: 2
6.2
U.7
.5
.3
U2.6
85.2
Majr...
June.
.
July
Au^it ....
Septesber
October.
HoTeaber
Dacenber.
19lili-jainiary.
29-3
2lt.l
.
58.8
fabruary.
33-lt
i/
38.
21.0
30.it
16.
.9
-5
7.5
2.0
.6
.u
5
1-1
2.2
9.7
.2
.6
Dall7 TraaavT Statenaata.
Laai than i^O.OOO.
foraarlj Tltla Till of the Social Sacurltj Act.
Inclt^at aaoonta aqval
Toraarlr Tltla IX of tha Social SecorltT' Act.
to approprlatloai to Railroad UbaaplOTaant tnaaranea Adalalitratloa
fund eqfuiralaDt to aaounta of taxaa collactad vlth raapaet to tha
parlod froa Jannazr 193^ *o •^^"^ 1.939> lacloalTa, fro* aaployara aabJact to tha Railroad Trnaaplojaant Inanrance Act (Saa Tahla 3 of Sactloa I).
Prior to Jaimary 1, 19^^. fl^^u-aa raprasant iHOtinta transfarrad to
Proa Jsiuary 1 to Julj 1, 19^0 *trKiatha Old-A^ Raiarra Aceoont.
fara' waro aada to tha Tadaral Cld-A^ aad SurrlTora iBmra&oa Tnut
Puad.
Subiaqneotlx racaiptt hara baao dapoaltad la tba Oaaaral food
of tha Traaaurj and "approprlatad" dlractlj to tha Tadaral Old-A^
aad SorrlTora loinranca Trtut fond.
Aaoanta ahoiA aa tranafara raflact daductlooa aada for ralalniraaaaat to tha Oanaral Pond account
which
to coTar adalalatratlTa axpanaaa,
ara shown as axpSBditoraa la
U/
5/
6/
.5
.1
.1
.U
•
38..-
.3
2.U
2.1
1-5
55-7
2U.8
10.7
.1
1.0
53.8
.u
.u
.2
1*1.7
5
.1
29-0
51-3
27.7
Section II, Table 1.
laclodas onlj axpanditnraa froa ap]S>oprlatlona aada apaclflcalljr
for adainistratlTe arpanaae relating to tha Social Security Act;
naaelj. Social Security Board, DBpartaent of Coamnrca, and Dspartasntof Labor; and adalntatratlTe erpaoaat relaburaad to tha Oaaaral Pund of tha Traaaury under Section ?01 (f) of tha Social Security Act, aa aaeudad. Be^nninc July 1, 19^. Includes alao adainIstrativa axpanaaa under the Va^er-Peyssr Act. Exclodei adainistratlTe axpanaaa payable froa other appropriations, principally for
the following aganolas:
Bureau of Internal RoTenua of tha Treasury
Dspartaent. and Public Health Serrlca and Office of Idueation of
tha Pedaral Security Agency.
CoTared by appropriations by Conceal.
Second Dafleianoy Apiropriation Act, fiacal yaar 1938. approrad
JuzM ?^, 1938. carried an appropriation of $U0.36l.686 for aaklof
refund to cartala Statee of portlona of Padaral aaployere' tax for
1936 collected under tba Social Security Act.
March 1944
15
Social Security Program
-
(Continued)
Section I.- Budgetary Receipts and Expenditures
-
(Continued)
Table 2.- Railroad Retirement Act
(In mllllone of dollars)
EecelptB
FlBcal year
or month
1936
1937
193s
1939
1940
19U1
Expenditures
Carrlera' Tailng
Act of 1937
19142
expenses
1/
.3
.3
150.1
109.3
121.0
136.9
170.0
20E.E
1.5
IU9.0
110.0
123.3
128.2
lUg.5
220.2
2.6
2.9
2.6
3.8
7.6
3.^
7.t
.5
.3
19'*3
AdffiiniBtratlTe
19U3-Fel)ruary.
.It
5
.k
3.0
5.9
Ug.6
35-1
.k
.2
.2
.3
.3
161.0
.2
.2
.2
September.
1.1
15.0
U6.2
.3
•3
October.
November
December
1.1
8.2
52-9
33.
March.
.
.
April.
May...
jTine.
July
Au^riist
.
.
19'tU-Jaauary
.
.
.
.
.
'ce:
•
if
1.2
U.l
.
Pebruary
.
Trajiafers to
Railroad Hetlrement
Account (trust account)
Be funds
of
taxes
.3
107.1
120.7
.7
lUO.o
2-3
-8.7
-21.6
2lll.g
ll.ll
12U.lt
-6.9
-i'l.3
.2
.2
3l'.7
32.1
-5-7
-Ug.3
160.7
159.?
-lU.S
-U5.9
33.5
32-7
-8.0
-52.5
3it.o
32.9
3.9
M
.1
.1
.1
DEdly Treasury Statements.
Less than $50,000.
Includes only expenditures from appropriations made specifically for admlolstratlTe expenses relating to the Railroad
2/
2/
1.2
-1.1
lli6.it
•
3".!
Excess of
expenditures
Retirement Act
Covered by i^pproprlatlons from the General Fund of the Treasury.
Table 3«- Railroad Unemployment Insurance
Act^
(In millions of dollars)
Expenditures
Receipts
Fiscal year
or month
1936.
1937.
1938.
1939.
Railroad unemployment
insurance contributions 2/
-
igito.
19U1.
19^2.
19'»3-
iglt3-February
March.
.
.
April.
May.
June.
.
July
August
September.
.
.
.
October.
November.
December.
.
igltlt- January
.
Febr'jary
.
.
AdminlBtratlTe expenses
(Railroad Unenployment
Insiirnnce Administration Fund) 2/
Tranafere to Railroad
Unemployment Insurance
Account Unempl oyr.ent
Trust Fund kj
,
Excess of
expenditures
2/
U
2
.
8
7
Treasury Bulletin
16
Social Security Program
-
(Continued!
Section II.- Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fund^^
(CUBulatlT* froa argaaliatlon - In allllona of dollari)
Bac*lpta
bd
of flieal
jev or BODth
1936
1937
1938
1939
Totkl
rocoipt*
IpproprlAtlon* 17
Cos^ska
Zxpendltaraa
iDTaot-
•nta
19112
267.3
782.7
199.6
792.1
536.2
502.8
265.0
765-0
1.155-0
1.705.0
2.393-1
3.288.8
l''3.1
2l>t.l
i9'»3
'•.720.7
''.'•19.3
301.5
19>i3-!>ceab«r.
fabnijLZ7.
5.661.6
5.071-3
5.105-1
5.357-3
30''.
•
5,375-'*
5,'«9.''
igiM)
igiti
IJUU-JaoMTT
Soure*:
•
1/
•
Total
ozpandl-
2-3
17-7
5-'*
iat.6
19.3
87.1
30U.3
30U.3
01il-a«*
bosoflt
pajB«&ta
for
117.
Dallj TreB«ni7 Stat* esta.
I«ai this S50.000.
Inclttdea traciactlona affected mider the predeceaaor Old-A^
2/
In G«Doral
road
•Bta
267.2
777.2
I.I8O.3
12.3
39.1
65.9
"^5.3
U60.6
'76.2
555-0
572.3
590.0
iDVoat-
adalDiatratlTO
axpeaaea 2/
5."
19.3
35.1
99-5
209.8
359.1
138.6
275.6
Ubazpaadad balaac*
RalateraeBant
1.7'»'<.7
93.'*
2.397.6
3.227.2
i*. 268.3
109.7
111.7
113.7
U.g20.5
U. 837.1
5.071.7
267.1
662.3
1.177.2
1.738.1
2.380.6
3.201.6
I*.
767.
't.867.9
officor'a
•ecooBt
.1
.1
113.0
1.9
.1
3.0
6:i
5-2
7-0
20.ll
a'*.5
12-5
38-5
172.7
29.1
30.8
31.1
'',236.8
''.778.8
Id dlaburilD^
6.1
10.8
Baaerre Account
Under Section 201 (f) of the Social Secarlt7 Act aiieodBente
of 1939.
Table 2.- Railroad Retirement Act
(CnolatiTe froB organisation fiscal pta
Snd of flecal
year or aonth
In Billions of dollara)
ficpendlttirea
Unexpended balance
Total
recelpta
ApproprlatloBa
by CoBgraae
Interaet on
iBTeetBent a
Benefit
pajBeBta
InTeatBOnta
In General
Pond
''6.6
1936.
19371938.
1939-
''6.6
l''7.9
268. 't
1^.
38''. 9
1*98.5
1.13U.7
LlSli-g
1.135-1
1.116.9
1.116.9
19'»2.
19^3-
.
rebruary.
1U6.5
26U.8
390.8
506.9
650.9
871.5
1941.
19l*3-DeceBber.
19'»i-JaBuai7
'*6.6
l'6.6
639."
854.2
I.U6.9
U6.6
36.6
''6.6
l.U
3.6
1:1
11.6
17.3
17.9
18.0
18.3
u.o
79-8
185.6
298.7
'•19.9
5W.I
676.6
1*2.6
68.1
82.7
92.1
87.0
lOU.g
19U.9
7^3."
391.''
75fc.6
380.3
785.7
369.'*
Dally rreaaary Stateaanta.
Leaa than $50,000.
Table 3.- Unenploynent Trust Fund
66.2
67.2
79-''
7''.0
.2
13.2
10.8
91.5
178.0
1.6
U.l
310.0
333.0
322.0
68.7
3^.7
3U.7
In diiboralac
officer 'a accoont
6.0
1.6
2.3
1.8
10.5
11-7
12.8
12.7
12.6
12.
Miirciim44
17
Cash Income and Outgo of the Treasury, by Major Claesif Icationsi/
(In mlllloas of dollara]
Treasury Bulletin
i«
GENERAL
FUND
OF
THE
TREASURY
March 1944
19
As8et8 of the General Fund of the Treasury
(In mllllonB of dollars
Ind of fiscal
year or month
igs"*
X935
1936
1937
1938
1939
19'tO
19U1
19tS
19't3
19U3-r»bm«ry
Total
DepoeltB In
Federal
ReserTe Banks
Bullion, coin,
and currency
3.033
2,016
2.936
2.709
2.U19
1,0U5
l,0Wl
Special dejiioslta
account of sales
of Governirent
securities
(War loan accounts)
I.85I1
1,863
827
97
lis
862
lUl
929
3.087
2.038
2.812
3.1*3
10,lU9
1.19'»
1.022
5.895
865
58
6U9
611
55
52
87U
25"*
98l»
897
911
i.oaU
603
1.038
776
8O5
661
1,679
7,667
95
105
1^3
265
533
509
550
''.758
872
871
623
6^3
3,892
2.69U
April
13.112
13.152
10,149
883
897
911
1.215
651
1.038
10.U«5
11,117
7.667
9.127
906
905
883
979
1,076
1.538
Jon*
July
An^ost
Sept eahar
18.73*
Ootobar
Noveabar
Deeambar
12,878
900
908
926
1,2115
l,'<08
igWl-January
Tabruary
12,873
19,726
9U6
1,098
1,172
Sonroo:
19.838
15,1*92
37
55
799
1,150
Mar oh
«V
other
deposits
and
collections
533
t51
501
636
6.790
'4,362
15.676
17,280
12,770
1,095
563
569
601
9. 91*2
10,311*
523
513
17.095
Dally Traaanry Statoaanta
Balance in the General Fund of the Treasury
(In mllllone of dollars)
Balance
Snd of fiscal
year or month
193't.
Total
assets
Total
liabilities
General
fund
3.033
2.016
2.936
2.709
2.U19
"51
175
5.895
It. 758
503
579
5.392
4.179
13.112
13.152
10,149
495
465
6U3
12,617
12,687
9,507
July
August
September.
9.1?7
6,9*5
18,734
532
481
576
October.
KoTambar
Dacaabar
19.838
15.1*92
19351936.
1937.
1938.
19lt3-rebruai7.
March
April.
May...
JUna..
.
.
.
19Ul*-January..
Tabruary.
Source:
1/
2,582
1,841
2,682
2.553
Working
balance
1.771
1,001
2.069
2.000
1,622
Seigniorage
on silver
Increment
on gold
140
316
356
811
700
297
198
446
11*7
619
619
144
14U
619
619
619
144
8,744
18. 158
7.832
5.601
17.395
619
619
619
144
144
144
51*1
19.297
18.53'*
14,196
11.532
619
619
619
l44
53"
584
l'*.958
12,878
12,873
19.726
63"
571
12,239
19.155
619
619
lU4
144
Daily Traasory Statements.
In the fiscal years 1935 «nd I936. $91 millions and $554 millions respeetlTaly, vera tranaferred f^oa Incremmt on gold
to the working balaaoa for retlreaant of national bank notes.
In this statement, howerer, charges for retirement of national
,
Analysis of balance In the General Fund 1/
in the
25'*
156
203
2.a6
8,595
6.366
12.294
".630
3.'*l6
11,854
11,921*
11,1*76
18,392
ll*l*
141*
ll*4
141*
bank notes are reflected directly against increment on gold
In the years during which the retirements were actually
made.
Inactive gold In the amount of $1,087 millions for
the fiscal year 1937 is considered as a part of the working
balance.
.
,
Treasury Bulletin
20
Analysis of Change In Balance of General Fund of the Treasury
Qa BllUoiu
of dollars - Bat tnorouo or net dooroa«« (-^
Vorkln« b&luca
Total
ohaaffo la
Chaa^
dttrloc fl«e«l
7»ar or aonth
Oonaral
Vond
Total
vorklac
balaaoa
y
a^enclBt
•tc.
-73*
637
-3.5*2
-3.611
-5.103
-19.598
-55.897
3.280 1/
2.528
29
37
2
16
11
6U,27'»
92
2Ul
768
3*
-217
-3.625
-2.19*
-5.16U
2.95*
-2.l't7
l,l»83
222
-260
26
11
-370
-300
8.U3g
70
-3.180
-5.952
-5.955
-3.758
ll».3'»2
*9
6.06*
78l»
266
-279
16
51
-9
-356
82
537
-997
722
35«
6.515
6.515
-2.331
-1.213
-2,331
-1.213
8.1*38
908
-769 6/
1.067 1/
-70
-377
3M
5.99'»
2}
108
31*
20U
Ml
-17
April.
Htj...
JQB0.
-3.180
July
Au^flt ....
Soptenbor.
-912
-2.231
11.79^
-912
-2,231
-5.105
-726
-2.087
U,828
2.53*
1*,291
92
11. TS"*
275
-265
-li»6
October..
HoTenber.
December.
1.139
-»».338
-2.661.
1.139
-^.338
-2.66U
-5,U26
-5.7'W
-1,716
6,697
1.112
-281
52
210
-262
lU
16
22
ai
,916
-*,823
-5.359
U.781
12.W»8
50
150
101
8
.
19'>U-Jamiar7.
7ebruAr7.
70
-I1.896
-1I18
-U27
lnor«a«at
OB
gold
V
0OTttraii«at
792 1/
622
-9*7
7l«
19U3-T»bniar7.
March
^
SalgDlerac*
acconnti of
-l,5«fc
193919U1.
19U2.
19U3.
dal)t
Mloeellaneoaa
funds DJid
acoounts
2*
6*
3*
19
11
-7'*1
19I10.
pecial
aooonnte \/ aocoanto 2/
Truit
acooucta
".SI*
1.739 1/
5. '•75 2/
1.720
-128
-33«
Public
-2,896
-3,209
-6,550
-3.1*9
193>t.
1935.
19J6.
1937.
193«.
8>tO
Ooneral
and
lUO
176
UO
March 1944
21
PUBLIC
OF
DEBT AND GUARANTEED OBLIGATIONS
THE UNITED STATES GOVERNMENT
..... ...
.
Treasury Bulletin
22
Summary of the Public Debt and Guaranteed Obligations of the United States Government-^
(IB
llllou
of deUari)
PDklle dabt
QoaraBteed dabt 2J
Intaroot-boarlnc dobt
tnd of flical
/•ar or aoaib
1931..
S7.73'*
19351936.
1937193«
3a,82U
38.'^7
Ul,089
U2,018
1939.
1*5,890
I9i«).
U8.U96
55.332
76,991
I9itl.
19U2.
19U3.
19U3-rabniar7
Maroh
Markatabla
laioat
27.053
28.701
33.779
36.U25
37.165
26.O8U
26.950
31.102
33.05U
uo.uuo
U2.96e
Us, 961
33.965
136.696
118. 311
llU,02U
5. '151
5. "150
1
5.1198
31
11
'1.653
U5it
'1.568
'1,100
U,5ii9
U.023
68
8
78,726
79,662
2't.56o
2ll,622
.565
.004
173
'1.287
219
U.360
'1.196
'1,272
79
78
12
11
91.392
95.382
95.310
27. '•56
1,206
1,238
1.316
'1.372
U,288
U.008
76
29.095
29.200
9.795
10,198
10,871
7'!
9
9
"1.023
68
8
30.169
30.879
33.910
U.l»56
11.907
11.717
1.286
1.338
1.296
3.791
3,7U
9
3,9'ii
3.971
3,861
3.888
71
73
77
7
7
35.776
36.595
11.S68
12.278
12.703
l.'t58
1,119
1.377
1.370
"1.160
3.923
3.959
U,020
190
195
205
6
6
6
12.873
13.168
3.6l6i/
11,275
1.398
It.
"1.078
"1.039
191
188
6
ll»1.52U
Sapteobar
lUS.OOO
i6a.32i
lWt.0^9
158.369
98,613
99.935
lll.'«6
October.
NoTeabar
Decaabar.
169.166
170. 318
170.108
165. 0U7
115, 9W»
166.158
165.877
115,909
115.230
17''.933
170.659
183.107
115.259
126.171
1/
55"*
'1.665
'1,853
1.316
ll»5.3i6
•
3.770
U,718
U.e«5
6,120
7.885
10,871
Jal7
ca:
681
11.123
573
1.056
790
625
5«9
37.713
50.573
95.310
135.913
136.696
187.339
681
'1.123
'1.718
396
633
626
1.558
2.676
5.529
6.370
129.8l»9
.
62
1.261
1.188
1.556
dabt
591
U5.507
Tabmary.
lotoai
Matnnd
Honaarkatabla
loauao
Marketabla
losaaa
'',775
13U,221
1UO.OO3
1U0.796
I9UU- January
Total
2.151
3.166
•.555
13.510
29.200
119.867
.
Spocial
arkatal)!*
3''.l'36
72. '•22
l'to.796
loa-
32.3U1*
April.
M«7...
Juaa..
Au^it ..
Hatorad dabt
and dabt
boarlnc
BO Intoraat
Total
Total
Intaraot-boarlnc dabt
36.57'*
38.911
'•2.370
Dally Treasury Statenants.
Leaa than $500,000.
Tor detailed atateiaent of the public debt and guaranteed obligatlona, aee following page.
2/
^
6.360
t.ogi
I*. 100
11,230
233
20
Ouaranteed aecurltlee eold directly to the Treasury, and
guaranteed ae to Interest only, are not Included In this
Includes prepi^mente In the amount of $3,193 millions on
dated Tebruary 1, 19"lll and offered as part qf the fourth
6
aecurltlea
table.
securities
War Loan.
Analysis of Issuance and Retirement of Public Debt
(In Billions of dollars)
nseal year
or BOntta
27.053
28.701
33.779
'•,515
36, "125
1,648
5,078
2,6U6
37.165
7"iO
1939.
"I0,"l"i0
19110.
"12.968
3.275
2.528
19351936.
1937.
1938.
U8.q6i
19111.
19'12.
72.1122
19^3.
136.696
Cash
i/
C«rtlflcatea Adjusted
of lndebt«d- serrlee
nftit. special
bonds
erles
13.583
13.126
14,121
9.589
9.621
13.084
13.166
17.847
37.16U
2/
9.161
5.716
8.958
6.199
14;
13
7.1175
ik.zih 122.632
303
17.911
5.?9'i
March
115.507
2.95'!
l.'i83
6.983
20,502
6.567
5.322
l'i.712
April.
May...
June.
129. 8U9
14,3112
135.913
136.696
6.064
784
17,620
10,643
12,480
17.527
8,855
6,281
805
July
August ....
Septeabar
I'll, 521*
4.828
l'i'*.059
2.53'!
1'1.291
8,702
8,104
6,098
6.086
20.931
491
October
HoTaaber
DecsKbar
165.0I17
19't3-rabruary.
.
19llU-january
.
Pabmary.
ca;
•
1/
llll.02't
158.3'«9
Public Issues
?1 748
,
ll*,281
166.158
165.877
6,697
1,112
-281
5.682
10,378
11.056
5.228
6.398
170.659
183.107
4.781
12.448
9,449
19,226
9,239
16.691
Dally Treasury Statements.
Less than $500,000.
Zzcludas certificates of Indebtedness, special series.
Cartlflcataa
Sxcess
Special
profits
BxIssues
tax refund chances
bonds
1.669
"1.776
7.194
10.462
30.388
94.961
23. "161
(fietlrement of public debt)
Public Issues
Bonth
I93U.
Public debt expenditures
Public debt receipts
(Issuance of public debt)
Sat
PobUo dabt change In
public
ont standing
debt
and of
f laeal year during
fiscal
or Bo&th
year or
1/
of Indebtedness, special
Zxchangea
26"!
9.069
"1.720
"1.159
6.964
2.978
1.751
446
516
11.1178
."199
6.9'13
"i.SOS
5,5'12
"1.625
2.67"!
.159
8,881
5.166
6,96U
2,978
1.751
2,674
3.035
2.812
3.142
2,567
3,151
ll,24l
5.301
5.680
5.8I6
3,035
2,812
3.142
I.UC2
5,876
8,318
9,809
10.638
11.853
13.703
58,358
4l6
468
4,028
19,019
9.043
303
17.911
3.803
202
"1.277
l"t.712
805
94
3,278
115
5.395
11,697
2.976
3.195
6.170
'1.58O
6o4
3.87'!
3.655
462
326
5,570
"1.003
7, "158
6,451
7,58'*
'1,570
3,5'*
162
421
137
2,127
209
407
1.556
3,062
3'!
Spaclal
issues
•arias 2/
"1.159
1.37"!
2/
Cash
1.462
191
209
523
567
l,04l
lj»73
2.146
2,896
4.111
5.332
23
30
302
12
1.37't
4,722
19
1.556
11
516
'*.5li
'1.525
3.062
10.660
7,105
3.5^^
11
11
11
4.668
U.e28
4,5Uo
2.127
40
112
6.778
491
Consists of special series of certificates of indebtadnaas issued
directly and solely to Tederal Reserve Banks.
March 1944
23
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
(In Bllllo&e of dollars)
2U
Treasury Bulletin
March 1944
25
Composition of the Interest-Bearing Public Debt
Interest-Bearing public debt outstanding
(In millions of dollars)
Percent of interest-bearing public debt
Public Issues
Public issues
iDd Of f Ileal
yoBT or Bonth
Certificates
Marketable
26,UgO
193U.
193519361937.
1935.
llt.87lt
17,368
39.«86
25.1*11*
Us. 376
1*8.387
26.751
30.U11
38.281
57.716
10,1196
21,701*
112,851
11U,287
1*9,1*69
17,1*35
1*9,1*69
18.276
128, 6U3
55.397
58.171
57.716
19,673
20,932
22.1*91
11*2,721
57.716
57,716
157,053
65. 61*0
163.589
l6i*,78l
68,085
68.136
16U.508
68,11*0
167. 0U3
181. 709
68,lUOr
71.968
135.380
19't2.
19U3.
1943-7ebruflry.
March
April.
Ma7...
675
135,380
13'*.
,^e.
July
August ....
September.
October.
November
December.
igWujanuary
.
Tebruary,
16.510
*5
32,989
35.500
36.576
27.
1939.
igto.
19U1.
Honmarketabla
lUO,238
20,131*
22.01*3
71*,
078
62
1,261
1,188
1.556
2,151
3.166
Karketable
Nonmarketable
6.653
10.023
11.381
10,617
Special
issues
of
Marketable
indebtedness
1.517
l.UOl*
2,053
2. 351*
2.303
9.11*7
1.151*
7.21*3
396
633
626
1.558
2.676
100.0
100.0
100.0
100.0
100.0
62.U
53.8
52.6
56.2
60.3
3.770
100.0
100.0
100.0
100.0
100.0
63.7
63.1
62.8
1*3.8
15.
1*3-3
16.0
1*3.1
15-3
15.5
16.0
7.1*95
3.096
16.561
1.308
1.302
1.603
2,508
11.86U
9.863
9.797
7.125
6.3U6
11,161
11.161
8.232
9,565
9.231*
10,00l*
100.0
100.0
9.797
9.797
9.168
7.783
8.163
I6.I5U
16,561
16,561
lO.OWt
10,853
9.795
10.198
10.871
100.0
100.0
100.0
7.678
7.703
8.851
16,561
17,1*97
12,1*60
12.81*6
11.1*56
23.176
25.060
11.875
11.875
11.596
21,136
13,051*
11.907
11.717
100.0
100.0
100.0
26.667
27.316
27,988
11.596
11.596
11.175
9.109
9,278
8.586
23.199
23,103
13.06U
13.072
100.0
100.0
100.0
1*1.6
Ul.l*
22,81*3
11.868
12,278
12,703
29.527
32.150
11.175
13.302
9.38U
10.220
22.81*3
13.101
13,112
12.873
13.168
100.0
100.0
It.
555
21,701*
6.383
5.698
6.689
9.168
3.015
7.1*95
25.680
i*.775
6.120
7.885
10.871
11,861*
13.07'*
Nonmarketable
Marketable
U1.2
1*0.
Ul.8
Certificates
of
indebtedness
25.1
36.3
.2
3.8
3-3
i*.3
5.'*
u
lU.6
16.0
1*3.2
1*2.6
Konnarketable
5-7
1-5
2.3
1.9
31*.
7.1
29.7
25.0
6.1*
3.2
7.3
18.2
15.1
11.8
9-3
6.8
U.2
5.5
12.2
3-3
3.1
3-3
3.5
8.8
9.5
11.3
12.6
11,0
8.0
8.7
8.6
6.3
5.6
9-9
9.8
7.3
8.1
8.5
8.8
7.6
6.1
6.1
5.5
12.6
12.3
12.2
7.8
8.1
8.8
7.6
7.6
8.0
1:1
5.6
11.8
12.3
13-5
8.9
9.0
8.3
8.2
8.3
7.5
8.0
7.9
7.9
7.3
7.5
7.7
7.8
7.2
7.7
7.2
U
16.0
16.2
16.0
Special
issues
8.5
8.3
7.1*
'*.3
7.1
7.0
6.8
5.6
5.6
5.2
ll*.2
Ul.l*
16.3
16.6
17.0
1*0.8
1*0.8
17.7
17.7
6.7
7.3
5.6
5.6
13.7
lU.O
13.9
11*.
Dally Treasury Statements.
HeTlsed.
Guaranteed Obligations Held by the Treasury
1/
(In fflllliona of dollars)
End of fiscal
year or month
Total
Commodity
Credit
Corporation
Federal
Parm Mortgage
Corporation
Federal
Public Housing
Authority
Hone Owners'
Loan
Corporation
3.255
3.655
1931*
1935
1936
1937
1936
i*,030
25
15
883
1939
191*0
302
U.079
7.535
191*1
Tennessee
Valley
Authority
3.255
3.655
030
3.6op
It.
3.630
273
loU
Reconstruction
Finance
Corporation
861*
2l*3
10
25
lUo
20
7
20
*?
2. 531*
52
57
57
1.950
283
551
212
5.033
57
6.11*2
750
850
283
283
323
298
1*.U08
lt.65U
57
57
6.152
6,357
7,535
750
700
1.950
283
283
283
276
2U3
212
l*.787
5.033
57
57
57
July
August.
September.
7,063
7.170
7.310
700
700
700
283
283
283
173
110
79
5,850
6,021
6.192
57
57
October.
November.
December
7.1*77
700
800
800
283
36
6,1*01
283
283
9
6,Uil
6,713
57
57
57
I9W* -January ..
February.
8,01*5
900
900
283
398
6,806
6.937
57
57
191*2
19^*3
19U3-February..
March
5.820
April
May
June
.
.
.
.
Source
Dally Treasury Statements.
Lees than $^00,000.
7.560
7.853
8,292
1*00
263
271*
1/
5. 071*
57
not Included in preceding statenente of guaranteed
These secorltleBe are noi
obligations outstanding
standing.
.. .
.
Treasury Bulletin
26
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed Obligations
of the United States Government
(In Blllloas of dollar*)
Public dalic and
ipuaraatead oblls*tloas
tni of flleal
year or aoath
Xntarail-bearioe
debt
o'itatandlDf
Cooputad
Intaraat
charga
wsu
27, 161
861
1935
1936
1957
1935
31.768
37.707
Uo,U65
Ul,U?8
8 63
1939
19U0
19U1
19UJ
19'»3
139. ''75
Public debt 1/
Conputvd
annual
rata of
intaraat
(Fareant)
,06g
3.169
2.716
2.573
2.588
2.579
1*5.336
1,1'»9
2-53''
U7,g7U
1,203
1,335
1,729
2,759
5''.7'»7
76,517
970
,0U7
Interast*b«arinc
dabt
outataadt Of
26,>480
Coapatad
annual
Intaraat
cfaarga
8U2
Guaranteed obli^atlont ?/
CoBoutad
annual
rate of
Intaraat
(Percent)
Interaat-baarlne
debt
outetandlog
Covoutad
annual
Intereet
charge
CoKmted
annual
rate of
interest
(Percent)
681
U,123
".715
".665
".853
112
125
123
121
2.710
2.720
2.650
2.633
2. "98
32.989
l^
35.800
36.576
92U
9U7
181
2.715
2.562
2.582
2.589
39,886
U2,376
"8,387
71,968
135.380
1.037
1,095
1,218
1,6UU
2,679
2.600
2.583
2.51!
2.2«5
1.979
5.
2.51U
2.U38
2.260
1.978
"50
"9!
6,360
",5"9
",092
112
109
117
85
81
2.052
1.978
1.83"
1.861
1.968
27.61*5
3.
5.
13
March
U8.637
fa
2.035
2.037
112,851
11U,287
2,302
2.33"
2.0ltO
2.0't2
",275
".350
82
32
1.908
1.893
Aorll
Hay
June
133.006
138.757
2,651
2,763
2,759
1.993
1.992
1.978
128, 6U3
13'».675
2.569
2.683
2,679
1.997
1.992
1.979
",363
",082
",092
82
80
31
1.890
1.970
1.968
1.972
I.96U
1.956
lllO,238
2,763
2,802
3,070
1.971
1.955
3,782
3,93"
3,96"
77
73
79
2.035
1-995
1.987
19113-rebruary.
117.126
139. ''72
135.380
July
lupiit
Septesber
lUU.OSO
1U6,655
161,018
2,8l40
October.
Soraaber.
Dacaabar.
167,701
168,935
168, 73?
3,253
3,283
3,29«
I.9U0
I.9U3
163.589
l6U,508
3.173
3.203
3.217
I.9U0
I.9UU
1.956
",113
",15"
",225
80
80
1.951*
81
1.938
1.923
1.912
l^UIt^anuary.
Pebraary.
171,312
185.936
35"
625
1.95s
1.950
167, 0U3
181,709
3.273
3.5*
1.959
1.951
",269
".227
81
80
1.90"
1-903
.
Source;
1/
.
.
2,881
3.l''9
1U2,721
157,053
l6it,781
Dally Traaaury Stateoanta.
Traaaury billa are included In interest-bearing debt flguraa
at face aaoont, but for purpoaea of calculating the coaputed
".wTiwi intereat charge and the computed rata of interest, the
diacount valua is used, for the porposas of coaiputlnc the
I.96I*
annual intereat charga and rate of interest on United States earIn^s bonds. Series A-X are coneiderad to yield 2.9O percent per
annuB and Series T is considarad to yield 2.53 percent.
Ouarantead aecurlties sold directly to the Treastiry, and securities fuarantead ae to interest only, are not included In this table.
March 1944
27
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States -^
As of February 29, 1944
(In millions of dollare]
Detailed annual maturities
Year
Description of secxirlty 2/
and
Fliedmaturl ty
Issues
Doath
19U1».
Mar..
Mar..
Apr.
Apr.
Apr..
May..
May..
May..
June.
Aug.
Sept.
Sept.
Sept.
Oct.
.
Treasury bills
Treasury note
1^
3-1 Alt ITMO bond
Ctf.
1«
R?C note
3-lA*
Treasur.v bond
Ctf. of Iniebt.
h/l^/hk-ki.
7/5*
3*
3*
ROLC bond
rFMC bond
3A*
Treasury note
5/lAl*-525/l5A't-U9.
6/15 AU....
5/1AU,...
sAAU
of Indebt.
of Indebt.
Ctf.
Ctf.
1*
3A*
Treasury note
Treasury note
Dec.
7/8*
7/8*
Ctf. of Indebt.
Ctf. of Indebt.
Dec.
^
Treasury bond
.
3/15M-6H.
U/lM....
U/15M....
7/«*
7/8*
7/8*
.
9/1M....
9/15 AU.
.
.
9/15M....
10/iM....
is/iA"*.
13/15 A'*-5'».
.
.
Total.
19U5-Jan..
Jan.
Jan.
Feb..
Teb.
Mar.
Mar.,
Mar..
June,
.
.
.
Sept.
Dec.
Dec.
1*
1*
1*
X-A
X-B
X-C
Ctf. of Indebt.
7/8*
1-1/8* COO note
TreasTiry note
.90*
Treasury note
i-i/u* Treaa'ory note
1-1/2* HOLC bond
2-3A* Treasury. bond
S-1/5* Treasury' bond
Treasury note
}M
A
I/1/U5....
Dec
.
Sept.
Oct..
Dec.
.
Dec.
Conversion bond
Treasury note
Treasury bond
Treasury bond
3-1/8* Treasury bond
l-l/?* Treasury note
5,oi*e
1*12
3/1/1*5....
A
3/15 A5....
5/15 A5....
2.12T
718
1,606
6/1/1*5-1*7.
9/l5/'*5-l'7.
15/15/1*5 ...
B
13/15 A5....
Conversion bond
l-l/j* HOLC bond
2-5A* Treasury bond
l-l/?* Treasury note
U-lA* Treasury bond
Treasury bond
c*
Treasury bond
Treasury
5*
I-3/I** Treasury
2-I/2* Treasury
Treasury
2*
bond
bond
bond
bond
37.683
13.522
11.552
6.123
3.779
1*,180
5.391
6.1*23
U,5U9
755
531
1AA6....
16
503
1.969
1*89
1.036
819
3,261
1/1 At....
6/1A5-U7
755
2.707
10/15A7-52.
"'761'
12/15 A7. ...
1,211*
759
759
1.036
1*8.
9/15,1*3
1.969
1,115
1.223
3/15A8-50.
3/15A8-5I.
6/15 A66/15 A8....
2,31*1*
13
9/l5A5-l*7.
9/15 A7....
3.1*21
2-3A* Treasury bond
1*0,1*28
1,211*
3/15A6....
3/15A6-5G.
6/15A6-U8.
6/15A6-U9.
12/1 5A6
2.71*5
51*1
3.779
3*
Total.
1,037
11,552
3*
1*
3-3/1**
3*
2*
3.51*0
Z/1/U5....
Total.
igUg-Har.
Mar..
June.
June.
Sept.
283
635
3.519
300
170
100
Total
19U7-Jan..
June.
Sept
2,51*5
1*,122
1/1 A5....
1/1/1*5....
Total.
19U6-Jan.
Mar..
Mar..
June.
June.
779
835
U16
;/l5A5....
C
of first call
Issues plus
callable Issues
classified by year
of final maturity
95
D
M
?lnal
maturity
n led -maturity
'"5]25l"
571
1.519
i,?;~
37,683
BTC note
RJC note
ETC note
rirst
call
Total anniial maturities
Flied-maturlty
Issues plus
callable Issues
classified by year
13.112
515
3/15M
nf Indebt.
Callable Issues
classified by year of:
3,062
1*51
12/15A8-50.
571
3.513
2.910
(Continued on following page)
1,036
.....
.
Treasury Bulletin
28
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States^
As of February 20, 1944 - (Continued)
(In allltoM of dollart)
Dvtatlod annual aaturltlaa
iMr
Oaicrlplloo of •ecurltj 2/
oath
Ilzad-
aturltr
CallablM litunt
claaslflad hy year oft
I
liaoat
tint
call
IfUf-May.
June.
June.
Sapt.
Dao..
Sac..
Sac..
Tgi
mc
bond
3-l/81t Traaaury bond
^
Traaiury
Traaiury
Sf
i-1/9% Traaaury
2-I/2II Traaaury
Traaaury
2$
bond
bond
bond
bond
bond
-
5/15 Al^"^-
-
i2A«A9-52.
<t91
-
i?/l?A9-53.
12/15 A9-51.
1.786
2.098
-
.
Sapt.,
Sapt..
Dae..
Traaaury bond
Treaiury bond
2-l/2# Traaaury bond
Traaaury bond
2^
TraaauT7 bond
2J(
^
)/i5Ae-50.
3/15/50-52.
9/15/50-52.
9/15/50-52.
Sapt.
Sapt.
Sapt.
Sac
Sac.
Sac.
3/15/^-51.
^
6/15/U9-51-
Traaaury
2-3A# Traaaury
Traaaury
2^
Traaaury
2f
Traaaury
3^
2-lA* Traaaury
Traaaury
2%
Traaaury
eit
bond
bond
bond
bond
bond
bond
bond
bond
19$3-Mar.
Mar..
May..
June.
Sapt.
Sapt.
Oct..
Dae..
6/15/51-5'*-
1,627
7.986
755
1,118
510
3/15/52-5''.
1993-Juna.
Sapt.
Dae..
Sae..
36
21(
2.098
Traaiury bond
Treasury bond
2-1/^ Traaaury bond
Dae.
bond
bond
bond
bond
6/15/52-556/15/53-55-
2l6
total
Traaaury bond
Traaiury bond
Traaaury bond
10.890
7.986
1,78b
1.118
10.890
1,02U
1,627
681
1.037
681
3/^15/55-60.
2^
3^
10,117
725
3/15/52-5'*6/15/51-5''.
6/l5/5l'-56.
l2/l5/irt-5U.
2-7/8^ Traaaury bond
725
''91
6/15/53-55.
9/15/^1-53.
12/15 A9 -5312/15/51-53-
2-l/Ui6 Treanury bond
10,117
759
12/l5/>'9-52.
Total.
1955-X»r..
Juna.
Juna.
Sapt.
Dae..
2.52''
1,186
11.939
725
2-l/2# Traaaury
2-3A< Traaaury
2-lA# Treaiury
U^
Traaaury
5,628
i,5oi
Total
WSlt-Mar.
Juna.
Juna.
11,996
1.963
779
2,52''
2-1/216 Traaaury bond
5.628
l,02l»
10/15A7-52-
Total.
1,687
1,292
12/15/I19-51.
3/15/JO-52.
5/l/W'-52.
6/15/52-559/15/50-52.
9/15/^0-52.
1,6*7
1,223
1,01U
11.996
2-1/36 Traaaury bond
Traaaury bond
21(
HOLC bond
3Jt
2-l/^ Traaaury bond
2-1/2)6 Traaaury bond
Traaaury bond
2^
U-l/U< Traaaury bond
3-l/8)t Traaaury bond
1,65''
571
9/15/^^-51.
9/15/51-53.
9/15/^1-5512/15 Al-53.
12/15/51-55-
total.
6,682
1,115
8,088
2-3A< Traaaury bond
1.65'*
1.963
1,186
".939
12/15/W-50.
Total
1951-Har.
Juna.
Juna.
i.oiu
1,292
6.682
2%
rinal
aaturlty
«35
819
6/I5A6-U9.
6/15A9-51.
9/I5A9-5I.
-
Total.
1950-Mar.
Har.
Total annual aaturltloo
ri»d-aatiirlt7
f liml-aaturlt7
liiu«t plus
liiuai plus
callablo Itfuwa
eallabl* livusi
clattlfled by rear! claatlf Isd by ]r«ar
of rirat call
of final aaturltj
3,687
681
3,687
2.611
3, ''91
2,611
1,501
725
755
510
9-^15/51-55.
12/15/51-55.
2, 611
(Contlauad on following
oaffa)
3,>'91
March 1944
29
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States^
As of February 29, 1944 - (Continued)
(In millions of dollars)
Year
and
month
30
Trcasurii Bulletin
Offerings of Marketable Issues of Treasury Ekinds, Notes, and CertlfJcates of Indebtedness^
Since January 1, 1942
(In
llllsBi of dollurs)
March 1944
31
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(Avoonts la Billions of dollars)
Description of n«v Issua
Data of
iBBUa
Aaotoit of 1}id8 aoeaptad
Maturity
data
19U3-»eh.
3,
ISltS-May
5-
Feb.
Tob.
»»b.
10,
May
May
May
12.
19.
26.
Mar.
Mar.
Mar.
Mar.
Mar.
3
10.
June
June
June
June
June
916.
23.
30-
Zg,
July
July
July
July
Ik.
21.
28.
Apr.
Apr.
Apr.
Apr.
17,
2l»,
17,
2U,
31
7
lU,
21,
2.
7.
May
May
May
5
kae.
h.
12
K-ag.
19,
Mv
26
*B«.
Aug.
12.
1926.
June
June
June
June
June
16,
July
July
July
July
Kig.
AU£.
Au«.
Aug.
2,
9,
23
30
7
ik.
21,
28,
"t
12,
19,
26
Sept.
2
Sept.
9,
Sept. 16
Sept. 23
Sept. 30
Oct.
Oct.
Oct.
Oct.
HOT.
Sot.
Hot.
Sot.
Dec.
Dec.
Dec.
Dec.
Dec.
19lA-Jan.
Jan.
Jan.
Jan.
Teb.
rob.
?eb.
yob.
Hot.
Hot.
Hot.
Hot.
U.
Apr.
Apr.
10.
17.
21*.
2.
9.
16.
23.
30.
6.
27.
Apr.
3
May
May
May
May
11.
18.
25.
10,
17,
2l»
91
92
1,388.6
1.509.3
1.566.7
1,378.7
92
92
J>pT.
92
1*.
91
91
91
91
91
91
Ainoust on
competltlvs
basis
701.9
707-8
703.0
700.8
500.1
7,621*.
501.1*
7.830.8
501.5
501.2
8,032.1*
701.3
705.3
802.2
802.1
8O5.I
701.3
705.3
802.2
802.1
8O5.I
503.2
501*.
8,1*30.0
8,630.1*
600.8
601.1
603.0
9,23'*.'*
8OU.7
80U.7
80U.O
600.1
601.5
701.5
702.2
801*.
90U.7
901.8
901*.
901.8
907.0
907.8
901.8
905.1*
901.8
826.1*
SIU.3
823.0
906.0
81*3.7
908.
1,000.5
1,006.1
1,005.8
820.5
921.3
1.176."*
l.3'»5.5
1.520.3
1.373.8
1,277.9
1.239.5
lO.oUU.l*
701.9
707.8
703.0
700.8
10,
701.3
705-3
802.2
802.1
805.1
11,057-7
11,261.1
68.1*
8OU.7
8OU.O
80.6
93-5
82.5
21*1*.
10,1*1*3.6
10,61*8.1*
10,852.9
58 .U
1,003.1
1,001.2
1,003.7
1,002.8
962.5
932.8
933.0
1*0.6
70.7
901*.
12,062.5
12.259-7
12,358-7
95'*-0
1*8.8
901.8
12. 1*59.
1,005.8
91*8.5
57.
991*.
932.2
1.005.3
1,002.3
62.5
75.9
68.3
12,563.8
12,651.5
929.1*
901.8
907-0
907-8
1,001.8
91*2.3
950.lt
1,001*.
93'*.
1,008.6
1,017.7
1,003.0
932.2
9S0.5
1,006.9
955.1
951.3
928.9
l,ooi».7
91*3.2
91*0.3
fd
77.3
59.8
905.1*
906.0
908-7
1,000.5
1,006.1
1,005.8
13.057.8
13. 051*.
13.058.9
78.1
1,001.8
I.OOU.9
1,008.6
1,017.7
1.003.0
13.078.3
931*. 8
l,00l*.7
1.001.3
1.008.7
929.1
927-3
930-5
91
91
l,5i*i*.0
1,006.1*
91
91
91
l,69U.3
1,815.0
1.791.7
1.771.8
l.Oll.U
1,000.2
1.005.5
1.011.0
969-0
63.9
63.8
65.8
60.7
U1.9
91
91
91
91
2.255.5
2.173.7
2.273.5
2.291.5
l.OlU.g
1,000.2
1.017.2
1.016.9
966.7
1*8.1
1,006.9
91*2.8
57-1*
l,00l*.7
957.7
950.0
59-5
66.9
1.000.8
1,008.1
91
91
91
91
2,1*59,
1,002.3
1.005.7
1.012.7
1.007.7
930.7
927.8
71.6
77.8
1,002.6
91*1.3
71.1*
932.5
75.2
1,001.3
1,008.7
1/
12,91*1.8
13. 0^8.0
13.01*6.2
13,061.5
13.071.5
13.067-5
13.073.8
1,002.6
91*1*.
12,71*9.0
12,gl*6.0
1.005.8
995.7
1.005.3
1,002.3
71.8
67.8
1,221.6
1,621.6
93U.U
11,863.9
13.059.5
13,06U.U
53.1*
1,11*2.7
1.21*7.1
91*2.5
9117.6
il,U59.i*
11,663.1*
1,003.1
1.001.2
1,003.7
1,002.8
51.9
91
90
91
90
1.979.
9.'i39.'»
9,9*1.9
9.8US.0
9U7.U
1,000.8
1,008.1
2.311*
8,831.8
9.032.7
931*. 1
1,1*13.9
2.551.
8,231.9
62.3
88.1
79-2
71.9
1,181*.
1.286.5
Anoont on
flxad-prlco
basis 1/
701.9
707.8
703.0
700.8
I.UOS.5
1.375.6
1.305.8
Data on new leeues cone from Public Debt SerTlce; esount of
maturing Issue and total bills outstandli^ are on Dally
Treasury Statement basis.
Back Fleurea: Annual Beports of the Secretary of the Treasury.
Source;
Total
aaoont
l.'*37.2
1.321.6
1.177.6
1,281.2
1.535.6
1.498.8
1.337.7
13.
20.
27.
13.
20,
l.lOU.l
1,359-6
1.622.3
1,585.8
91
91
3.
6.
91
91
91
91
1.39"*.
91
I»b.
I»b.
Fob.
7eb.
23.
30,
1,382.3
1,302.7
1.329.9
1,101.1
2.
13.
20.
27.
9.
91
91
91
91
91
9.
Jan.
Jan.
Jan.
Mar.
Mar.
Mar.
Mar.
Mar.
1.051*.
12.
18.
26.
191*1*- Jan.
16.
1,11U.2
1,1*08.9
1,1*19.0
1,1*20.5
7
2.
91
91
1,01*1*.
92
92
91
92
lU
21
28
26
1,301.8
92
92
92
7.
6.
18,
91
91
Oct.
Oct.
Oct.
Oct.
16.
23.
30.
12,
MdS
taadarad
92
92
92
92
92
lU.
21.
28.
ABOQAt of
days to
maturity
Sept.
2.
Sept
9
Sept. 16.
Sept. 23.
Sept. 30.
Dec.
Dec.
Dsc.
Dec.
Dee.
",
Hoabar of
Amount of
Total bills
maturing
outstandings
Issna (as
(as of date
of date
shown In
shown la
first column)
first colomn)
67.8
75.6
71*.
1,001*.
13.062.1*
13. 081*.
13.076.3
13,061*.
13.072.2
13,080.1
13.075.6
13.092.0
13.100.9
13.100.5
13.101.5
13.113-0
13,112.0
Conmendng with the offering of Treasury bills dated
191*3. tenders for bills In the amount of $100,000
or less from any one bidder haTe been accepted In full at
a fixed price of 99.905 per hundred.
May 12,
..
.
Treasury Bulletin
32
Offerings and Maturities of Treasury Bills
-
(Continued)
Table 2.- Prices and Rates of Treasury Bill Offerings
Total bids aeeaptad
Sat* sf
liaua
OeapatltlT*
Xrtimgt
price
par faondrad
Iqol Talent
aTsra««
rata 1/
Frlea
par
hOBdrad
(Peroent)
19i»3-l*b.
3.
Ttit.
10.
17.
ZU.
I*».
?»b.
Mar.
Mar.
Mar.
Mar.
Mar.
Apr.
ipr.
Ipr.
Apr.
3-
10.
17.
2<t.
31.
7.
Ik.
a.
2t.
Majr
5.
May
May
12.
1926.
Mar
June
June
2.
9'
Jttne
l6.
23'
30.
Jane
Jvn»
Jttly
Mda
aeeaptad
Hl(h
XqulTalant
rata
Prlea
1/
hundred
(fereent)
IqolTalent
rate
(Percent)
99-935
99.925
0.297
0.237
0.257
0.297
99.906
99.905
99.905
99.905
0.372
0.376
0.376
0.376
99-907
99.906
99.906
99.906
99.906
99.930
99.930
99.925
99.925
99.525
0.277
0.277
0-297
0.297
0.297
99.905
99 905
99.905
99.905
99.905
0.376
0.376
0.376
0.376
0.376
99.905
99.906
99.906
99.906
99.925
99.925
99.935
99-935
0.297
0.297
0.257
0.257
99.905
99.905
99.905
99.905
0.376
0.376
0.376
0.J76
99.906
99.905
99.905
99.905
99.935
99.912
99-910
99.910
0.2^7
O.3UU
0.352
0.352
99.905
0.376
0.376
0.376
0.376
99-905
99.906
99.905
99.90&
99.910
99.913
99.910
99.910
99.910
0.352
99. go"*
o.3lio
99.90'*
99.901*
99.901*
99.910
99.925
99-910
99.910
0.352
0.293
0.352
0.352
99.901*
99,901*
99.901*
99.901*
99.901*
99.907
99-906
99.906
99-906
99.925
99-9»tO
99.90I*
99.90U
99.90U
99.905
0.352
0.352
0.352
99. 90'*
99.9*
99.9fl'»
99-90*
0.376
0.376
0.376
0.376
0.376
0.376
0.376
0.376
0.376
juljp
7.
lU.
July
July
21.
28.
inc.
inc.
in*.
An«.
U.
12.
1926.
99.901*
99.909
99.91?
99.909
99.911
0.356
99.90U
99.905
99.90U
0.360
O.3U8
99.90I*
0.376
0.376
0.376
0.376
Sept.
2.
Sept.
9.
l6.
Sept.
Sept. 23.
Sept. 30.
99.905
99.905
99.905
99.906
99.905
99.925
99.909
99.911
99-92U
99.926
0.297
0.360
0.352
0.301
0.293
99.905
99.905
99-905
99-905
99.905
0.376
0.376
0.376
0.376
0.376
Oct
Oct.
Oct
Oct.
7
lU.
21
28.
99.905
99.905
99.905
99.905
99.926
99.926
99.926
99.915
0.293
0.293
0.293
0.336
99.905
99.905
99.905
99.905
0.376
0.376
0.376
0.376
»0T.
HOT.
lOT.
lOT.
U.
12.
18.
26.
99.905
99.906
99.905
99.906
99.915
99.915
99.925
99.910
0.336
0.297
0.360
99.905
99.906
99.905
99.906
0.376
0.376
0.376
0.376
Dec.
Sac.
Sec.
See.
See.
2.
9.
l6.
23.
30.
99.905
99.905
99.905
99.905
99.905
99.925 2/
99.910
99.925
99.909
99.910
0.297
0.356
0.297
0.360
0.356
99.905
99.905
99.905
99.905
99.905
0.376
0.376
0.376
0.376
0.376
99.906
99.905
99-905
99.905
99.915
99.925
99.925
99.925
0.336
0.297
0.297
0.297
99.905
99.905
99.905
99.905
0.376
0.376
0.376
0.376
99.906
99.905
99.905
99-905
99.920
99.910
99.910
99.910
0.31b
0.356
0.356
0.356
99.905
99.905
99.905
99.905
0.376
0.376
0.376
0.376
19Ul4-Jaa.
Jan.
Jan.
Jan.
Teb.
reb.
feb.
Veb.
6.
13.
20.
27.
3.
10.
17.
2*1.
99.901*
Source;
Public Sebt Serrlce.
B*£k Plgorea:
A"**"*^ Report* of the Secretary of the TreAenry.
1/
2/
o.3Uit
0.31*0
Bank dlaconnt ba*l*.
licept $10,000 at 99.956.
99.90U
99.905
I
March 1944
33
Sales of United States Savings Bonds
Table 1.- Summary of Sales and Redemptions* by Series
(In mllllonB of dollars)
Hedenptlons
fiscal year
or BODth
Amoiut
outstandloc
sad of
fiscal 7«ar
or moatb 1/
Hot
cbaa^
Sales to
InTSStors
other than
oomnerclal
banks
during
flseal ]r*ar
or BoBth
All
1935
1936
1937
1938
1939
1960
igiti
19't2
62.0
316.1
799.6
1.237.7
1,868.1
+62.0
*'*83.5
1*38.0
+630.5
1*87.5
6«l*.5
2.901*.
1,036.6
1,108.7
6gU.5
1,108.7
't.3l'».o
1,1*09.3
1,1*92.1*
1,1*92.1*
10.188.2
21,256.2
5.874.2
11.068.0
5.99l*.l
5.99i*.l
11.788.7
11,788.7
821.1*
887.2
887.2
March
17,067.5
17.890.7
823.2
91*1*.
91*1*.
April
M«y
June
19.267.
20.507.
21,256.
July
Aii^Bt, .,
September,
22.030.2
22.693.5
2U,U7g.lt
+1.781*.
October.
NoTODber.
Decenber.
26.056.0
26.697.0
27.362.8
+1.577.6
61*1.0
19''3
19ll3-T»bru»rr..
redeaption
Talnes
Original
purchase
price 2/
Total
Interest
accrued
i/
t»Tlf 1/
62.6
26U.0
512.6
+25l'.l
Accrual
of
Sales to
ooimercial
banks
62.6
.5
261*.
512.6
1*87.5
•
5
11.1
35.9
1.2
7.2
17.1
28.0
11.2
36.2
66.6
82.0
1*2.1
111*. 3
65.0
87.5
127.6
11*8.1
ll*2.8
207.1*
gl*8.3
200.9
8UI.3
10.5
10.2
76.1*
75.8
130.5
.6
131.2
65.6
80.0
110.8
.3
1.1
2.0
3.5
5.3
6.5
7.0
.7
+1.376.1
,1*69.7
1.1*69.7
9.1*
1,21*0.1*
+71*8.8
,335.0
1.335.0
875.5
102.8
lOU.O
lUl.l
102.1
103.3
IU0.5
.7
.6
iu!i*
138.2
152.0
155.3
137.5
151.2
.7
.8
11*2.
875.5
.7
889.
801,
.926,
1,926.6
22.6
13.6
13.6
1,708.2
798.1
853.0
13.1
11*3.7
13.1*
665.8
1,708.2
798.1
853.0
19.6
170.5
206.9
5/
28,901.0
31.515.2
+1.538.2
2,6ll*.2
1,698.1*
2.781.5
1.515.0
2.695.9
27.7
17.5
187.8
18U.8
It/
I*/
1935
1936
1937
1938
1939
62.0
316.1
799.6
1.237.7
1,868.1
+25l*.l
+1*83.5
+1*38.0
11.2
36.2
66.6
82.0
19lto
2,901*.
I9'»l
3,650.2
3.60U.2
3,608.0
1.2
7.2
17.1
28.0
U2.1
65.0
85.9
92.0
,
.
l^UU.January...
February.
19U2
19't3
19't3-»ebru«ry..
March
April
»<«y
June
July
Au^et
,
.
.
September.
October,
November.
December.
.
I9'«lt-Jaimary.
.
Tebruary.
+771*.
+66^.3
62.0
+630.5
+1,036.6
+745.5
-1*6.1
+3.8
62.6
261*.
512.6
487.
681*.
1,108.
828.1
889.7
801.
62.6
26U.0
512.6
1*87.5
68U.5
.108.7
828.0
.8
.1
183.1*
85.6
.5
I5l*.l*
9
.8
1*/
•
5
11.1
35.9
65.6
80.0
110.8
.3
11*7.5
ll*2.2
1.1
2.0
3.5
5.3
132.7
88.2
126.2
81.8
li
111*. 3
3.609.5
3.609.1
+.6
-.3
7.5
7.3
6.9
7.6
6.1*
3.6O8.I
3, 606.
3.608.O
-1.0
-1.3
+1.2
6.3
5.2
7.3
6.5
6.3
6.8
5.9
5.8
.5
7-5
3.61U.8
3.615.3
3.615.6
+6.8
+.5
+.3
13.6
7.6
7.0
6.8
7.1
6.8
6.2
6.5
6.2
.6
.6
.6
5.7
.6
3.6l'*.7
+ .1
-.9
6.3
5.1
3.616.3
1.6
7.7
6.2
6.1
6.0
3.623.3
+6.9
+.9
13.8
7.8
6.8
6.8
3.615.6
3, 624.
(Contlmied en following page)
7.0
if
II
II
II
.5
.6
.6
.5
1^
..
1
8S
7
,...
.
..
.
U
1
8
Treasury Bulletin
3>^
Salea of United States Savlnga Bonds
<Contlnuedl
-
Table I.- Suamary of Salea and Redeaptiona, by Series
(In
llllou
(Continued)
of 4sll&n)
lodoBpt lOBO
a«Li*o
or aonth
iaoont
ontot«B41a<
«d of
floe»l rt»x
or Booth 1/
lot
kloo
ebtac*
larli^
floe»l 7o«T
or Booth
S
to
iBTOotor*
othor than
coiBoreiAl
S&loo to
colore 1a1
i«cro*l
of
rodoapt loo
Tolnoo
OrlflBBl
fot^
VWebBoo
prlso 2/
Sorln I
203.1
3.670.8
11.2(6.6
iprll.
*»r...
tta».
Jttlj
lu^ot.
.
.
Soptoahor.
Oetobor.
loTOBhor
DocoBbor.
.
203.1
3.526.3
8.271.3
1.5
33.1
60.0
688.6
60.0
688.0
63J.6
633.6
.606.5
720.lt
720.
2.8
2.7
62.7
116.6
62.
116.
9.796.0
10.799.0
11.3S6.6
*922.1
1,006.8
995.2
696.2
1.006.8
995.2
696.2
1:1
6.5
87.7
86.5
125.1
87.
86,
11,857.8
12.390.6
13.660.0
571.1
532.8
1.269.5
1.221.5
523.1
552.5
682.9
661.2
682.9
661.2
l.>100.2
120.1
13U.0
136.
120.0
l,'t00.2
8.U
5.6
6.1
i.yw.i
1,31*0.1
665.3
727.6
665.3
727.6
6.U
7.5
11.2
125.1
IU9.7
186.2
12U. 8
1U9. U
i.osu.e
2.102.3
1,08U.6
2.102.3
12.7
9.1
163.6
160.7
163.
160.
.2
2.5
2.9
17.0
2.9
17.0
.2
.2
1.7
1.8
1.7
1.8
1.8
2.8
2.8
1.8
2.8
2.8
2.8
3.5
2.7
2.8
3.5
2.7
3.3
5.1
U.8
"if
U.B
6.3
if
15,957.2
16,891.0
fohniaiT.
203.1
3.526.3
8.271.J
573.7
1)1,881.6
15, "W*.
.
+7. 61;.
«.«73.9
19l>}.fobraai7.
HBKh
203.1
3.«7.7
18. BUI.
913.0
577.6
933-!
1,990.8
125.
133.
'.5
136,
185, 8
Sorloo r
66.6
ijte.
If*}.
66.6
1198.9
1,2'»2.3
66.7
U3U.9
757.9
UjU.9
757.9
66.7
976.6
1,018.8
1>6.8
U8.3
lt8.3
Nareb
U2.2
"»3.9
''3.9
Iprll.
Naj...
1.126.5
1,209.5
107.7
Jttaa..
1.2>t2.3
109.5
85.9
35.1
109.5
85.9
35.1
July
Aa(aot ....
S«ptoBbor.
1,277.7
1.302.7
37.6
28.1
139.0
37.6
28.1
139.0
:l
.u
Oetobor...
loToabor.
Sacoabor..
1,529.6
93.1
93.1
.!»
19lt't.Januar7...
1,6 )1.9
1,8 '3-7
19b}.robrauT.
Tobmary.
l.«39.>*
1.5'»8.7
1.568.7
83.1
32.8
35.'*
2U.9
136.7
90.2
19.1
20.0
123.2
126.8
151.7
157."*
.7
.8
75.0
128.6
51.9
28.8
1.1
.6
Sorloo
1
19>«i.
39'*.0
391.0
19'»2.
19'»3.
2.ltU.3
5,119.2
2.020.3
2.70I.9
19U3-7obrMai7.
NaT«h
2111.0
'•.388.9
l».
391.6
2.032.1
2,759.5
391.6
2.032.1
2.759.5
.5
.5
11.8
51.5
11.8
51.5
200.3
171.8
517.5
2l5.6
1?7.2
160.
105.0
378.1
205.3
180.0
205.5
ISO.O
5.0
5.2
5.0
5.2
353.1
IU:1
353-1
253-9
111.1
5.9
8.2
6.9
5.9
8.2
6.9
169.2
112.1
3«7.1
169.2
112.1
387.1
9.0
9.0
271.9
271.9
109.
109.
101.1
101.1
186.9
521.7
16l!9
April.
May...
Joaa.
0.736.1
July
iofaot
Soptwbor.
5.280.0
5,385.0
5.763.1
Oetobor.
loToabor.
Doeoabor.
6,029.2
6,128.9
6.220.5
+265.8
6,691.9
7.205.6
+I7I.I
"4,982.0
5.119.2
.
.
.
19UU.JaaDar)r...
Boorea:
99.7
91.6
510.7
Iklly Trvaaury 8t*t«B«ata.
«
Uti thu 1^.000.
1/
At eurr«Bt r*d«vptloD tkIu** sxevpt 9«rl«i 0, vhlch
atattd *t
p*r.
UaolAttlfl»4 —!•• fthown In th* Daily fr«*nu7 3tatia«at
hAT* baaa elft«tlfl*d by ••ri«t.
Sitiaatsd. •ze«pt for S«rlat 3.
9«riai ^-E, *.h* aal* of which co^aaoad la March 193^ aad 00atlauad throng April 19*^1, ara 10 7*ar dlaootiat boada whlob vara
aold at 79^ of aatoritr ralua. jrlaldiac 2.904 par aanua If bald
t« aatorlt/: porchaaaa vara llaltad to 17.^00 laaua prioa la aay
oaa oalaadar ya^r aad froa April 1, 19*^, eoold ba aada oalj by
iadlTlftnalo.
Sarlaa I. f, aad 3 hava baaa ea aala ilaca May 1,
19^*1.
Sanaa B la a 10 y«ar dlacoant boad aold at 7^< of aati^
rlty ralaa, ylaldia^ 2.90i par aanoa If bald to aatorlty: pur.
ehaaai ara llaltad to 13. TS? laaua priea la aay oaa oalaadar
y«ar aad aay ba aada oaly by lodlvidaala.
Sarlaa T la a 12 yaar
dlacoQDt bond aold at 7klL of aatorlty nJua. yialdlo^ 2.53^ par
2j
^
!
9.1
9.7
9.8
131.5
56.8
12.6
11.0
Sarlaa
a&aiH if bald to aaturlty.
la a 12 yvar eurraat iaooaa
boad, aold at par, baarla^ lataraat at tha rata of 3-l/2i par annim,
radaaaabla at par oo aatorlty, or at atatad prloaa laaa tbaa par
bafora aatorlty. ?arehaaaa of Sarlaa T and 9 In any ona ealandar
yaar ara llaltad to $100,000 laaoa prloa for tha tvo aarlaa coabiaad
tha calaadar yaar 19U1) and throng Daofcbar ?1. 19**3
($*V.0O0
oould ba aada by all Inraatora azoapt coaaarelal banks.
Coaaanola^
January 1. 19^*, eoBaarolal baaka boldiac aaviaca dapoalta (aa dafiaad 1b Baculatloa Q of tha Board of OoTamora of tha fadaral Baaarra Syataa) vara paraittad to parcbaaa Sarlaa 7 aad 9 boada praTldlac i^ich ooabinad purchaaaa do not total aora than 1100,000 laava
prloa la any oaa oalaadar yaar and proTldlnf that tha total holdiac*
of Sarlaa 7 and
bonda, 2-1/2 pareaat Traaaory boadt of 19^^70,
aad 2-1/1* poroont Traaaory boada of 1956-^9 do not azcaad 10 pareaat
of aaTla^a dapoalta. Tor furtbar dataila eoaoaniin^ radavptloa
ralaaa and Inraataant ylalda. aaa "Traaanry Bollatla' for Aofuat
19^3. P*<« >*.
Bot yat avallabla.
U
March 1944
35
Sales of United States Savings Bonds
-
(Continued)
Table 2.- Total Sales by Series, Classified by Denominations
Salas In illloat of dollar* at
Piacal year
or month
Total
line
prlc«
Percental dlttrlbntlon of tale*
Denomination
all
dflnonl-
nations
»Z5
$50
$100
$500
$1,000
$5,000
$10.000
Total
all
danonlnatlona
Serlea X
19U1 1/
19U2
19^3
lU.I*
203.1
1*1 .U
1*0.7
13.3
93.1
615.6
31*1.5
3.526-3
812.7
636.9 1.119.5
8,271.3 2,988.2 1.081.0 1.713.8 1.007.3 1,1*81.0
19U1-MV
Jtme
100.6
102.5
6.3
8.1
6.1
7.2
19.1
21.9
20.2
20.5
11(5.3
10.0
10.1
9.0
8.8
8.6
29.3
26.
30.6
23-7
20.6
66.3
US.U
10.1*
21*.
U6.7
38.9
1*8.6
1*U.8
Jul7
ixi^at
Septembar
117.6
105.2
October.
Korecbar
Deeeabar.
122.9
109.5
3U1.1
13.2
13.1
U2.3
10.1
9-7
33.7
28.7
26.5
81.6
72.1
57.2
68.2
55-1
35.9
Mardl
667.1
398.0
337.6
31*.
135.2
93.9
81.7
138.9
71.!
58.2
266.1
136.2
9I.7
April....
May
326.7
i»21.8
78.9
103.1
102.9
85.2
98.6
1*33.2
71-5
106.7
137.3
53.3
65.5
J:ui»
57.'*
82.1*
.
.
19l*2-Januar7
.
.
yebmar/.
July
ka^naX
TU.8
1*7.8
53-2
161.7
169.5
189.3
61.1
252.8
.
66U.8
51H.6
725-8
19'*3- January..
Sll».9
271.3
PebruAT7.
March
633.6
720.U
21*3.3
1.006.8
995.2
696.2
303.1
32U.6
299.3
126.1*
682.9
661.2
290.3
290.8
376.5
391-3
303.0
328.7
,
508.1
1*51*.
Septenbar,
509.9
Octobar
November.
Dacembar
.
.
April
May
Juna
July
Auguat
Sapteobar.
.
.
.
Octobar. .
NoTembar.
Dacenbar .
igW*- January...
February.
I9UI 1/
igUj 2/
19^3
igltl-Kay
Juna
July
August
Saptesber.
.
.
.
Octobar. .
HoTember
Oacembar.
.
19'»2-Januar7
February.
.
March
April
May
Juna
.
1.1100.2
1.31*0.1
665.3
727.6
211*. 8
265.0
293.5
21.6
21.0
68.7
Ul.I
111*.
llU.
100.
112.
51.9
60.3
89-0
71.3
98.6
11*2.
77.1
115.
60.1*
156.6
89.1
103.2
76.3
II6.U
99-8
83-7
99.3
157.9
120.1
135-3
100.9
69.0
75-8
I85.I
117.5
116.5
118.2
11*8.7
102.9
210.7
21U.2
133.2
138.5
66.9
226.1
191.6
93-8
99.2
102.1
158.8
129.2
125.6
31*0.1
67.2
60.1
220.5
30i».
173.7
331*. 9
190.3
2i*6.q
108.
127.3
51*.
72.lt
117.5
11*0.1
6O.U
81.0
221.
508.
135-2
312.0
1*85.3
60.1*
67.1*
1,081*.
3U2.9
11*0.8
2.102.3
51*8.9
2I7.5
68.
102.5
71.2
80.7
96.
82.
21*1.1
100.0
100.0
100.0
SanoBinatloB
$25
$50
$100
$500
$1,000
$5,000
$10,000
1
U
..... ....
. ..
5
UU
g
UU
U
s
5
U
Treasury Bulletin
36
Sales of United States Savings Bonds
-
(Continued)
Table 2.- Total Sales by Series, Classified by Denominations
-
(Continued)
\
Ion* prlco
SailM In allUons of dollari at
n»c^
7«ar
or BOQth
Total
all
danoalnatlona
Farcaataca dlatrllmtlon of aalaa
Dinoalnatlon
»25
tjo
$100
$;oo
fotal
tl.OOO
5.000
tio.ooo
all
daaoalaatloaa
Danoal nation
»Z5
»50
1100
$500
$1,000
$5,000
Sarlaa 7 * (eontlaoad)
32
17.1
lU.U
16.8
lU.6
11.0
12.9
36.6
22.3
100.0
100.0
100.0
2.6
3.2
2.6
u.u
26.1
1:1
23.2
27.5
27.7
19.8
21.0
21.1
3.8
2.8
19.0
ik.U
20.0
1U.9
10.7
15.6
20 .U
lU.g
23.2
100.0
100.0
100.0
3.8
3.9
u.o
6.3
6.2
6.1
31.3
32.2
30.3
2U.6
2U.0
23.7
2.1
1.8
1.6
u
15.1
9.6
9.5
39.6
2.7
3.7
3.7
U.3
18.2
100.0
100.0
100.0
.5
.6
2.5
16.6
11.8
11.7
21.5
2U.3
26.7
19.6
19.8
21.8
109.5
85.9
35.1
2.5
3.t
1.5
U.9
5.6
2.2
29.3
27.7
11.2
26.8
20.5
9.0
U5.6
27.9
10.9
100.0
100.0
100.0
.u
2.3
u.o
U.2
U.5
6.6
6.3
26.
32.2
31.9
2U.U
23.9
25.6
Jnl7
AQ^uat. ..
Septoabar.
37.6
28.1
139.0
1.3
1.1
3.7
2-3
2.0
7.5
12.1
9.8
lt6.2
9-0
6.5
36.2
12.7
8.5
UU.g
100.0
100.0
100.0
3.U
3.9
2.7
6.2
7.2
5-U
32.2
3U.8
33.3
23.8
23.0
26.0
Octobar.
HOToabar
Dseeabar.
93.1
3.9
1-3
100.0
100.0
100.0
u.2
5-3
5.2
6.8
7.8
7.5
33.0
37.1
35-2
21.0
iu^uat
Septaabar
73-7
52.3
£0.«
1.6
1.6
2.8
3.0
Octobar.
VoTeabar.
Dac«ab«r.
£0.6
Wt.g
ee.o
2.3
1.7
2.6
77.1
Ug.J
UJ.9
19lt2-julor
19113-JanuaJT
•
rabnULTT.
March
April.
May...
Juna.
.
22.
.7
.8
1.1
1:1
30.7
8.7
8.5
19.5
U.9
1-3
1.8
1.8
5.0.
31.7
6.5
7.2
2.0
'.7
3.3
7.1
17.8
33.6
17.7
2«.3
85.6
82.5
100.0
100.0
1.6
3.0
2.6
u.5
lU.l
21.
13.9
18.0
39U.6
2.032.1
2.759.5
U.g
50.9
11.2
113.0
188.7
578.1
8O5.7
71.8
U06.2
526.3
22U.3
883.8
1.157.3
100.0
100.0
100.0
1.2
2.5
3.0
2.g
5.6
6.8
20.9
28 .U
18.2
20.0
29-^,
19.1
211. U
183.
2.2
2.6
5.1
6.1
39.0
U3.U
36.7
35.1
128 .U
100.0
100.0
1.0
l.U
2.U
3.3
18.
95.9
I7.U
19.2
169.5
127.7
109.0
2.6
2.2
1.9
7.0
1:1
U5.7
33.8
28.9
35.6
27.0
22.5
78.5
59.5
51.6
100.0
100.0
100.0
1.6
1.7
1.7
U.l
U.l
3.8
26.5
21.0
21.1
20.7
12U.9
1.0
105.0
15«.2
2.3
2.1
U.5
3U.0
61.9
100.0
100.0
100.0
1.9
2.0
9-7
25.7
21.9
3I.U
67.
Daeeabar.
2.9
6.3
27.2
28.0
30 .U
20.6
20.8
20.3
19U2-Jannary..
7ebniar7.
March
.
315.6
253.U
179.2
6.8
6.7
5.U
17.2
1U.5
52.1
U9.6
35.8
159.6
112.5
72.3
100.0
100.0
100.0
2.1
2.7
3.0
5.5
U.8
80.0
70.1
53.9
April.
Hay...
Jnna.
163.8
170.1
159.7
5.0
6.0
5.3
10.8
12.0
10.5
50.6
55-7
U9.3
3U.U
36.2
3U.I
63.0
60.1
60.5
100.0
100.0
100.0
3.1
3.5
3.3
July
Au^uat ....
Saptaabar
319.1
191.0
18U.0
6.9
15.2
11.2
11.2
71.2
52.8
52.6
50.5
37.6
39-5
175.3
9t.2
75.7
100.0
100.0
100.0
2.2
2.7
2.7
u.8
1:1
Octobar.
Horaabor.
Daeeabar.
209.6
lUg.2
6.6
5.1
7.2
IU.9
66.8
10.
U9.2
222.
16.3
68.7
U5.1
31.6
U7.I
76.2
51.5
83.1
100.0
100.0
100.0
19l»3-jaimar7..
3U«.U
205.3
igo.o
1:1
5.5
19.3
12.5
12.9
80.7
53.8
5U.g
52.9
3U.0
32.U
188.1
?abru«ry.
March
April.
May...
June.
11.0
11.0
5.1
27.3
2U.9
12.2
113.7
^:l
73.9
51.3
30.5
July
Ao^uat.
Saptaabar.
169.2
112.H
3«7.U
li
17.3
lU.g
10.5
38.7
Octobar
Voraabar.
Dacaabar
27U.9
109.
101 .u
u.g
30.3
11.1
10.0
19UU-janury..
Tabmary.
Ug6.9
521.7
19>A-JaiiQar7
126. g
.
rabrnarj.
157.'*
I9U1 1/..
I9U2
I9U3
19Ul-May..
jQoa.
Julj
iaguat
.
.
.
Saptaaba'r.
Octobar.
oTaabar.
353.U
.
.
.
1.1
81.
u.o
19.5
6."»
28.0
U2.5
82.
i:2
23-7
27.0
a.o
21.0
16.5
19.6
20.0
'4
i:
30.9
32.8
30.9
21.0
21.3
6.1
22.3
27.6
28.6
15.8
19.7
21.5
3-2
3.5
3.2
7.1
7.3
7.3
31.8
33-2
30.9
21.5
21.3
21.2
100.0
100.0
100.0
2.1
2.6
3.1
5.5
6.1
7.2
23.2
26.2
30.U
15.2
16.5
18.0
127.6
75-2
U6.2
100.0
100.0
100.0
3.1
u.u
3.5
7.7
9.8
8.5
32.2
36.0
3U.8
20.9
20.2
21.2
36.3
23.5
85.8
U9.6
31.3
95.6
100.0
100.0
100.0
u.5
8.7
9.3
10.0
37.2
37.8
38.7
21.5
20.9
22.1
5U.0
20.9
19.7
68.2
2g.U
26.9
100.0
100.0
100.0
5.5
u.3
U.7
u.o
UU.3
Uo.O
10.1
9.9
39.1
U0.5
39-5
19.6
19-1
19. U
62.8
82.7
2g5.U
i22i
100.0
100.0
2.3
3.7
5-7
8.2
20.5
27.7
12.9
15.8
91.
50.1
62.9
••2.5
1U9.9
107 .U
Table 2 haa baeo rarlied to a Dailjr Traasury Stataoant baala.
flcorai y>j danoalnatloas ara ettiaatad on the baele of raporti
raealTed Igr the Troaaury.
232.
1:1
Salae of Sarlai I, 7, aad
bondi coKDeDoed May 1, 19^1.
Sale of 125 deDoalnatloD Serla* T bonde began In Jacnary
21.
19^<
March 1944
37
Sales of United States Savings Bonds
-
*
(Continued)
Table 3.- Sales by Series to Investors Other than Commercial Banks, Classified by States
PART A
BERIEB E
-
(In tbontanda of dollar* at
f ^c&l yaar
19U2
Ala^>aaa
28,996
91,272
W«
27,81*6
52,761*
21.
California
Colorado
Connecticut
260.592
2U,5l*5
77,5^3
Delaware
I9UU
19113
19U3
Arlxona
Arlcanaaa
ltn« prlsaa}
638.877
62,132
168,258
7,207
2,100
2.1*72
1*,U52
U,005
51.828
56.511*
1*.995
10,868
7,697
5.086
570
11*,
Apr.
May
13.522
3,976
7.729
11.106
3.760
5.7U3
6.191
2.233
3,609
75.703
9.101
59,222
'*,113
15.81*3
82,735
7,517
17.366
1U,U73
July
A'"*-
Sept.
7.728
6.395
7,1*1*9
2,17'*
5,23"*
3,5'»7
15.600
5.100
9,800
17.171
2.1*50
3,1*31
2,092
3.675
62.525
61.392
88,1*00
11,911
12.91*1
lt.136
12,105
11,300
21,500
123.72'*
12,1*27
25,061*
13.000
3,155
17,113
18. 361
7,531*
1.1*97
1U.900
18,Sl*9
1*,500
1*3.125
77.800
35,666
33,051
1.692
I.52I*
8,311*
8,0l*7
9.609
8,702
Jan.
7.331
2,012
3.903
11.6U8
3.822
11,1*29
56.999
5,121
11,662
86,635
7,r
19.502
1.563
11.0U9
6.699
1,802
8,516
8.067
11 .1*19
6,296
8.666
1.6U3
8l*,909
1*5 .'*79
9.051
1.979
50.733
11.850
3,979
52.791
18.793
10,570
21.585
21,8Sl*
12.1*27
18.508
21,1*97
7.1*1*7
7,015
lU.l*57
16,501
5.85I*
17,1*38
7.269
3,595
8,060
7.351
10.321
12.687
2,811*
l*.76l
13.575
35.929
52.215
8,817
56.0U9
5.028
6,667
7,126
1,692
7,252
7,860
2.230
9.293
2,236
10,870
12,1*1*5
11,1*01
8,303
2.594
602
8,233
2,266
53.559
12,125
3,863
66,607
7,1*86
7.670
62,606
1*1*,
1.751
265
1.71*9
'*7.266
213,813
176,508
106,190
17.885
25. 761*
23,801
17,815
13.827
19,879
13,96U
18.653
3l*,900
23.975
16.650
17,1*72
12,1*55
12,1*02
8.320
19.696
15,270
10,681
7. 601*
7.1*35
7.602
35.900
20.800
293
36,800
17.7U6
87,607
94,910
37,361
7.61*0
7,1*3'*
13.221*
10,130
6,606
6,970
8,169
3,339
13.697
4.1*1*8
12.1*23
'1,193
7.231*
2,871*
7.282
7.817
2,672
7.279
7,732
2,710
15.000
18.800
5.500
1*9,009
11*1.217
108, 60I*
8.782
19.836
9,202
23.953
12.81*7
29.1*54
2"*,
9,186
23,653
23,31*6
11.250
21,771
38,13'*
1*8,697
69,1*73
55,513
'«),537
39. "tie
37,538
52,616
96,003
23,1*67
1*81,637
16,200
35,600
75,100
9.015
30,71*5
10,923
718
17,1*27
280,091
160,150
1*0,1*69
1*0,91*0
Minnesota
Mississippi
Missouri
71,181
22,973
94,800
179.108
52,870
195.868
12,712
13,1*1*8
21.235
5,503
2U.831
39,600
29,61*5
ll*,100
l4.112
35,100
9.158
3"*, 336
12,095
3,153
15.536
12,01*1
3,21*9
16,675
12,222
3.252
15,139
10,057
4,129
15,715
629
9.376
29.260
11.595
1»,223
l'*.333
Montana
Nebraska
Nevada
17,710
39,'*32
72.211
ll,U66
2.807
6,616
893
8.081
11.382
1.290
3,359
10,913
1,612
2,361
U,907
7U8
2,189
5,832
783
l,88l*
26.01*5
l*,3Uo
2,786
5,586
880
9.200
13.300
1,800
7.090
22.315
1,495
2.046
5,050
693
2.199
5.281
639
11,760
160.538
6,978
25,787
303,807
2.136
22.070
1,552
2,31*8
27.61*7
2,806
36,902
2,036
1,978
1.960
26.51*9
1.370
2,612
32.038
2.569
25,39'*
17,281*
1,251
1.350
2,211
23,2U6
1.273
X.76U
28.307
1.465
New York
North Carolina...
North Dakota
587,21*9
1*2,297
991,988
113,869
72,550
8.719
82.583
105,581
9.01*9
13. 31*5
lll*,815
10,91*8
80.838
8.166
69.363
7.913
11,39U
31*, 31*9
3,*'71
2.156
6.1*65
2,977
108
8,205
1,651
1.91*7
1,51*2
Ohio
190,262
506. 361*
39.381*
1*1.202
1*3. 6'*!
'*3.56U
82,11*3
6.917
6.1*71
63,682
9,518
1*0,61*8
3l*,l*82
5.'*73
6.'*39
37.391*
107,674
7.1*99
9.280
67,065
10,963
13.055
15,1*73
10,091
9.983
6.385
9,239
283,782
626.051
1*9.621*
51.762
71*. 71*3
53.71*8
53,1*01
3,019
U.066
5.'*61>
5.555
6.677
53,269
U,0l6
U.1*S7
73,336
6,4o5
6.073
51,730
293
33.171
100,530
306,265
2,1*52
3,136
11,008
37,823
1,960
7.708
Dlst. of Columbia
3't,327
Florida
39 .565
21,821*
83.11*3
89,1*96
Georgia
35,61*2
9i*,52l*
9,8Uo
282,055
575.056
1*1*.
.ndlasa
Iowa
Kansas
76,661
69.558
35.310
Kentucky
Louisiana
Maine
31*.
7.629
Idaho
Illinois
Maryland
Massachusetts...
Michigan
Now Hampshire.
New^Jersey
New Mexico
.
.
Oklahoma
Oregon
PenneylTanla
Rhode Island
South Carolina...
South Dakota
Tennessee
Texas
ntah
Veraont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Alaska
Canal Zone
Hawaii
Puerto Rico
Virgin Island....
Other possessions
Unallocated
Adjustment to
Daily Treastiry
Statement
Total
21*.
18,782
11,783
36,73l»
126,056
27.81*5
1,1*96
12.1*26
2,1*16
7.833
23.00I*
2.905
7.922
26.963
3.068
1.159
31*.
8.361
13,059
1*5.901
i».f
A
10.256
3,1*38
12,911
I*.
521
22,331*
590
621*
601
512
557
623
'*.076
l*,635
3.673
1*,U85
1.293
321
20
371*
18
16
303
15
5,633
7.6U9
3.167
13.563
17,1*1*9
*l*,366
*7,7'*1
-23.796
+27,1*72 +27, 1*1*1* -26,11*1
+3.'*95
720,1*07 1,006.786
995.231* 696.213 682.871
661.200
163.921*
12,11*5
l'*,965
18. 630
64.583
172,650
17,313
5.220
13,308
1,326
6,377
7,163
25,561
2.511
7,397
5.1*22
U31
613
5.322
582
203
23
1.1*72
63.62U
-15.01*7
*90,737
91
1.713
7,821
1,007
600
57,962
27,61*2
l*,338
2.231
7,689
25,053
5,090
12,986
1.1C7
1,850
16.333
61,066
'*.536
ll*.319
1, .91*
16.801*
2,959
315
15,837
1,726
2l*.8l*8
50.266
3.760
21.738
7.151
19.657
2.392
12,'*93
77,668
7,066
'*,015
3,136
1.100
11.186
11*5.1*59
33,21*2
llt.lTS
71*,
5,728
576
2.992
1.089
11.910
2,851
986
11,302
9,919
7,550
56,272
3.181*
1.596
8,856
8,26s
13 .21*1
1,388
8,325
5.018
2,012
2l*.3ll*
3.523
1.336
135,100
18,200
8,300
158.1*07
65.537
8.138
2,656
8U,6li»
121.785
8,968
2.170
l'*,925
72,900
15,600
15,600
85.6S2
18.575
309
6,608
9.283
52,651*
60.766
12.867
lU.481
92,1*00
102.520
8.I6U
10.170
52.523
3.506
'*,23l
56.156
3,698
4,217
7,212
2.008
7,365
23,792
1,962
7.991
26,190
3,194
i.oUo
11,090
3.522
862
6.200
8.800
9.200
16,600
65,200
18,751
9,325
2"*, 861*
21,ll*9
59,781*
1*1*.
15.i*«3
22.1*00
36,01*1
5,371*
5,1*94
11,890
1.132
9.100
28,500
2,100
10,005
l'*.8lt7
35.52'*
3,911*
15.335
5.234
13,086
1,181
500
787
5,73s
91*2
281*
522
3,916
1*,862
18
32.907
24.773
000
296
51*6
37
8.57'*
2.81*1*
U98
6691'
322r
67:
36:
7.672
9.286
13.53"*
17,085r
6,308
13.71*8
1,329
633,572
(Continued on following page)
187
61
-113,375 +25,1*56
+25.892
1/
+11*7,952
1..1*00.
159 1,31*0.11*8
665,293
2,656
571
2.555
3"*.
8.635
76.U95
5.'*99
6.621
7.181*
13.782
39.1*87
'*.835
I.6U1
17.862
23.860
8,760
18.870
1.779
51*1
651r
5.946
312r
lOr
li*
3,526,276 8,271.275
1,1*08
1*9,899-
15,782
It,
6,505
10,870
3.500
23.557
526
488
3.795
383
19
28,795
9,331
26,617
2,800
12,126
1,031*
3.571
16.519
2.739
11.237
1*0,300
5.500
2.000
17.600
1,1*08
3.572
3.500
10.1*00
8,1*05
727.558
I*,
393
766
800
U65
79
7
26
+78,51*6
l,08U,637 2J.02.3l*5
...
.
.
....
.
.
6
.
Treasury Bulletin
38
Sales of United States Savings Bonds
(Continued)
-
Table 3.- Sales by Series to Investors Other than Comnerclal Banks, Classified by States
PART B - 8CRIEB F AND
(Continued)
COMBINED
(1b thousaiida of dollars at Iiiqo prlees)
rttcal 7««r
19'»2
Alabau..
Artiona.
Arkmaaaa.
Callforola.
Colorado.
Connactlcut
.
.
Dolaware
Dlat. of Coin
riorlda
Apr.
K«»
JOBO
32.007
1,387
751
1,200
1.592
512
708
7.282
1,15c
1.127
1.396
90?
851
1,251
17,616
1.626
6.219
32.178
1.639
8.196
23.001
3.185
11,196
1.095
370
385
3.399
779
666
2I9
UU3
12,196
1.632
3.996
19.915
1.188
2.575
16,099
977
1,012
10,200
6,100
7.100
2I.96I
2.91I
6.681
11.765
979
2.726
9.257
1.039
1.876
33.IO8
3.709
11.111
81
1.707
2,651
918
1.133
2.208
1.063
1.595
2.792
IIO
l,Oll
1,591
i.ioo
5.300
5.800
1,020
2.326
1.222
581
1.021
1.701
122
1,115
1,615
l,2l5
1,681
3.580
7.001
991
33.351
1,731
952
23.581
1.961
3.170
3I9
15.256
1.518
22l
10,068
6,700
1,300
30,700
1.390
1.011
28.52I
2.325
292
10.535
.916
I3.OI5
.232
3.509
1.012
25.797
1.619
7,593
2.533
12,111
10,807
1.995
6.819
6,610
3.607
1,182
1.327
I.6II
6.129
5.031
2,290
3.379
3.360
1.076
11,700
13,800
7,100
9.593
26.11?
1,794
1.311
3.002
1.596
,611
.560
.380
8.766
10,030
5.286
5,039
2,561
l,7lO
1.690
2.970
1,261
7.769
9.710
I.76I
1.801
3.113
2,119
2.7I9
1.785
1,032
2,880
2,533
592
I.9I1
1.330
950
7,900
9,600
2,100
2,969
3,ll0
2.170
2.352
1,131
1.099
829
1,061
897
8.117
1.129
1.369
2,928
11,663
6,361
7,2W*
11,217
19.255
1,209
17.772
7. 731
2,638
7,189
5,090
3.025
1.575
5.110
1,910
6,622
1,290
8,900
il,loo
20,800
3.626
16.357
11.792
2,612
7,551
1,300
,762
573
362
7.325
31.252
11.217
7.306
1.399
6.9I1
2,286
660
3.539
2,267
5I6
2,716
10,550
3. 301
12.896
11,910
12.326
33.757
36.705
801
2,8ll
2.3J9
903
2.721
2.381
1.621
1,791
6,973
37.831
8.031
272,112
3. 871
61I
18,076
2,083
798
21,319
5,080
5.108
1.109
Kantuelqr.
2'*.
30,676
lU,Ug6
79.52'»
71. "132
3'*. 897
516
21.651
16.570
uu.uei
110.093
5'1.252
113,755
20,2lt5
Jan.
3.607
772
1.398
81,128
''5.123
Dm.
Sopl.
6,700
1,800
1,l00
59. 89"!
Indiana.
Io«a
lanaaa.
tat.
912
I05
5I2
19,121
2,2l8
7,008
8.1121
Jal7
19ltli
1.539
532
1,082
16,578
17,982
7.339
MaiTland
Maasacbusatta.
Michigan
Nar.
22ll.lU5
29,7'i6
202,0111
Loolalana.
Naina
r«t>.
lUo.toa
18.302
22,219
.
19U3
1).099
U,232
13.738
23, zU;
Oaorgla..
Idaho
Illiaoii.
19U3
llllO
327
2,131
282
65.0U0
999
106,363
3.872
15.121
7. 152
Mlnnaaota.
Mlaalislppl.
Mlaeoorl.
U9,o69
10,061
68,651
69,692
21,812
8U,266
5.353
1.231
5.72I
1,031
1.279
1,963
10,922
5.199
11,572
7.599
1.351
7.225
3,2lo
815
5. lie
3.699
1.093
5.180
I.SI7
515
3,615
12, loo
Montana.
Vabraaka.
6,322
10,529
ll»,132
30, "t 111
755
2.367
2,588
3.935
i4i9
181
177
1,120
228
3,100
6,100
900
391
1.058
397
135
1,570
182
1,117
1,357
U,Wtl
167
1.268
137
133
2.139
2,3't9
729
3.316
271
198
69
299
928
80
2.108
1.179
518
11,090
93.399
lU,U03
1.177
7.118
667
1.309
7.865
216
1,061
15.316
999
8I3
10,192
867
7I7
118. 761
6.55I
285
175
6.123
592
779
I.8I7
360
900
16.800
1,200
1,710
12,662
771
559
5.099
158
I26
1,053
101
3,111
12,607
5I8
82,836
7.171
1.387
13.532
1.221
1.16s
28,166
2,226
28,753
2,651
18.971
1,526
UUlt
I19U
5U
75.000
9,000
2,100
l8,35l
3.093
1,575
16.735
1.693
6I5
17,921
1,532
127
68.129
6,050
1.926
8,132
1,123
1,026
28,030
3.195
1.173
10,2lO
656
31,108
3.036
3.016
1W.199
.
.
avada
.
.
.
Haw Eaapihlre.
New Jerioy.
Hev Maxlco.
.
.
.
.
17'!.
5.900
13,100
9,03''
7,025
How Tork
Vorth Carolina,
lortb Dakota
580, U33
627,986
26,07't
ill, 6511
I2.8I6
2.167
7,515
10,937
9I1
38.317
3.167
116
Ohio
OklahoBa.
Oregon. ..
119,098
16.587
22,095
203,827
25.095
32.892
11,866
1.161
1,891
10,662
1.137
1,186
I1.29I
3.876
3.805
8.116
2.689
3.791
10,528
1,231
1.555
13,100
1,718
1.589
8,166
880
I.55I
31,300
5,100
6,000
16,802
3.261
2.723
8.935
PannajrlTania.
Ilhode I aland.
2U3,285
28.06U
9. '59
297. '130
17.999
7.115
1,817
17,918
1.297
I.I77
11.705
2.791
3.32I
21,728
2,213
2,209
15.713
1.358
1,178
17.123
800
1.359
10,335
1.362
696
16,300
2,300
1,200
23.181
2 ,150
2 ,105
10.233
1.078
I.03I
3.077
567
807
1 ,693
511
311
,161
.172
2,770
6,133
7,300
26,500
3 ,860
110.993
.376
,156
302
1.5I1
3.136
2, loo
,716
,gl2
,116
,120
.533
607
511.196
2.156
8,516
21,676
391
16,1481
10.1116
39.1'iO
10,101
1.556
2.850
1,831
3,955
1.350
1.715
13,201
5.019
7.171
7.50I
53.701
637
II8
161
3,671
551
.875
1,588
668
8,095
653
709
.263
3I7
6O8
.960
611
309
3.1I0
520
1.925
1,900
500
11,100
651
1.191
3.119
280
I09
2,297
287
273
2.957
1,«77
1,368
7,200
19.753
17.905
86,336
6,010
3.235
962
5.587
2I2
7,139
2,0l7
13.019
702
6,111
1.367
8,996
,928
I,l02
6,608
323
235
2,291
698
3.192
198
11.000
3.300
l1,000
1.U7
3,151
1,281
5.192
315
6.017
1,638
11.917
716
1,831
985
3,192
291
2,130
1,051
3. 611
115
7.269
2.203
9.521
569
1.297
1,813
17.367
3,010
101
96
1.585
262
111
118
325
922
236
152
303
1.356
51
156
65
135
1,050
3U2
81
Ub
i^
72
55
2,790
180
I06
1
31
111
2U6
666
161
122
11
South Carolia
South Dftlcota.
Tannaiiaa.
Taxaa
.
.
.
Otah
Tanont
5,81*2
.
Tlrglnia.
28,0llt
Waahlngton
Wait Virginia.
25.898
11.780
..
Vlsconain
Vyoain^
'12,205
3.690
Alaaks
736
Canal Zona
Bavall
Puerto Rico
Tlrgin lalanda..
Other posseaaiona
dnal located.
Adjuitaent to
Dally Treaaury
Stateaent
Total.
.
50I1
5.882
U72
30,U2U
21.712
3,891'
I98
761
312
8I3
.863
86
,271
157
uite
569
197
800
100
263
100
2/
26
1
507
28
'1.768
5,181
332
*2.259
20,381
-3.691
-999
-51.672
18,012
2,129
9,111
1.621
-1?,267
2,167.031 3.517.35I
253,623
223,868
U62,93g
339,751
179,277
206,820
l1o,529
526,396
2I5
300
38
CoaDAnclng January 1. 19II. coBimercl&l bankt holding saTlngi dapoeita
were peraltted to purchase United aaounte of Series F and
bonds.
Such purchases haTe been eliainated froa the aboTe table.
Tor aaounts
of and limitations on snch purchases see Table 1.
Dally Treasury Stateoanta; (2) Sales by States;
Re(1) Total sales;
ports of ^oBs sales.
Prellnlnary.
,
iJ
851
955
72I
195
1
321
1.157
U7U
99
70
27
18
13
20,713
-60
9.687
1.629
368,001
132,853
125,159
130,351
593. 5I7
Rerised.
Left than $300.
Unallocated aDounta for prior montha Included chiefly lalea to the aroed
forcea. Be^onlo^ In Septamher 19^3 theaa aalea are allocated on a
State haala.
Included In '^nallooated".
March 1944
39
Participation in Payroll Savings Plans For War Savings Bonds
-^Z
Table 1.- Number of Firms and Number of Persons Participating in Payroll Savings Plans
....
9
7
.,.
g
7
7
U
6
Treasury Bulletin
Uo
^
Sales of Treasury Savings Notes
Table 1.- Sunvnary of Sales and Redemptions, by Series
(Par Taluei - In
llllons
of dollaxi]
RedeBptloni and axchancaa
Aaount
oatatasdlnc
end of
or Booth
fltc&I ymr
or gwntb
Vet ehftsc*
durlDc
fiscal y«ar
or aonth
RacelTed
Id p^TBent
of taxea
Radeeaed
for caah
Exchan^d
for
aev larlas
All lariaa
19U2
19^3
19lt3.r»bniar7
.
March
April
May
J>ue
•3.OIU.5
T-ieU.?
6.3U5.6
375.9
7.782.5
8.162.9
•H.U36.9
+380.S
-667.5
1,632.9
182-5
86. U
1.112.1
Ulli.O
7.i*95.'«
July
Au^tt
3.01U.5
7.U95.U
7.677.9
'tit.ugo.;
Saptenbar.
October..
NoTenber
Seceaber.
9.132-9
9.301.9
8.599-3
256.lt
9.502-9
903.7
826.5
.
.
iglA-Jaouary
?ebniary
.
.
.
10.329-1*
>t$6.6
Uit6.8
-779-1
7.761t.3
8. 876.lt
.
^.138.9
8.758.5
Serlee A
1.211t.l
196.0
101.8
1.135.6
176.6
97.0
1.119.8
19-5
U.g
15.8
231.5
127.1
l.llt7-9
21U.U
99.2
1.111.9
17-1
27-9
36.0
330.2
U36.8
20^.2
161.2
1.139.5
181.6
121.9
1,068.3
22.6
39.3
71.2
216.1
017.1
312-5
190.6
275- "t
37.1
lltlt.7
115-9
8.7
213-5
2.260.0
It
,
78.8
20.7
IIU.9
1.225.9
U68.1
-702.6
1.103.7
U. 09U.it
2.0
11.8
>lg2.2
169.0
1.12U.U
'•.277.6
60.
80.
^
19U2
vi*i
5U.g
266.7
5U.g
72.2
17-11
+211.9
33't.7
122.8
16.6
llU.O
19^3-^ebruBry.
March
320.0
10.5
2-5
U9.9
.6
-3U.6
13.0
15-3
1.8
285 .U
"7.5
2.3
21.8
7-8
t.5
12-3
11.1
-.9
38.3
1.2
.8
29'*.
9.
302.7
266.7
+7.
-35.
July
August
Saptesber
251.2
2U7.6
207.3
-15.
-3.
15-5
3.7
-Uo.
ltO.2
October.
200.2
198.3
168.7
-7.
-1.
-29.
6.2
1.1
27.8
1.0
.
19W»- January..
Tebruary.
160.2
156.7
-8,
-3.
6.8
2.2
1-7
1.3
1.0g7.1
2.933-3
19.9
70.6
April
May
June
.
.
.
.
FoTefflber
Deceaber
68.3
_•
UO.lt
13.3
1.7
37-2
.8
2.2
2.2
2.0
3.0
.8
l.S
Series B U/
19U2
19^3
2,959-7
76U.g
+2.959.7
-2,195.0
19U3-yebruary.
March
2. 311. It
-52.8
-823.0
52.
52.
823.0
g20.7
2.2
-93 -"t
-Ss.U
-585.9
93.11
87.3
lt5.lt
9
U3.2
58U.O
6.1
2.2
581
53-7
23-2
339.3
52.7
20.9
336.3
1.0
2.3
2.9
27.2
lU.S
178.0
25.6
1.6
ifi.O
.8
171-6
6.U
IU.3
9.6
-1.2
April
May
June
July
Aufuet
1. ltgg.lt
1,395-0
1.311?.
76U.g
711.0
6g7.9
Sept en bar
3lt5.6
-53-7
-23-2
-339-3
October.
NoTeaber
Deceaber.
321 .U
306.6
128.6
-27-2
-lU.g
-178.0
l9>U>-January..
109.7
101.3
-^1:2
.
.
Tebruary.
U,o66.7
877.1
1,107.0
3.072.1
Ig.
(Contlsaad on following pa^e)
\l
.It
•9
It.
6g.2
March 1944
ki
Sales of Treasury Savings Notes ^- (Continued)
Table
K-
Summary of Sales and Redemptions, by Series
-
(Continued)
(Par value - in mllllone of dollars)
Bedemptlone and exchanges
Amount
TlBcal year
or month
out et audi Qg
end of
fiscal year
or month
Net change
during
fiscal year
or month
Sales
2/
Series C 5/
191*3.
6,U6lt.o
6.U6lt.O
19U3-J'eljruai7
U,U93.U
+ltl8.2
March
U.STl.S
April.
6.092.6
May...
6,510.6
Jime,
6.U6H.O
July
6.715.7
August ....
6.82S.9
September.
8.320.5
October.
8,611.3
NoTemher
8.797.0
December
8.302.0
iglA-jannapy..
J*bruary.
9.233.0
10, 071.
Received
In payment
of taxee
Redeemed
for cash
Exchanged
for
new series
Trcasurij Bulletin
•ts
Sales of Treasury Savings Notes
-
(Continued)
Table 2.- Sales of Series C Notes, Classified by Denomination-^
March 1944
^3
Sales of United States Savings Stamps
Table 1.- Summary of Sales and Redemptions
(In thousaada of dollars)
TiBcal year
or month
13^1
19U2
Net change
fiscal year
or month l/
flBoal year
or month 1/
2/,
July
191*1
/tag.
191*1- Jane 19l*2.
Percental distribution
Bedemptlona
Amount
outfltandln^
end of
Sale a
dTirlng
i/.
5,291*
5.11*3
6.087
166.31*1
161, oUs
308,621
1*5.620 6/ 2/
Total
1/
of redemptions
Exchanged for
tniited State*
aariogB
bonds 2/
Cash
u
57H
Cash
saving
2/
2/
bonds 2/
9U3
1^
II127.9I*?
I8,i*6?5/
5Uit,6U7
1»7U,168
70,ugo5/
11*7,
Exchanged for
United States
100.0
100.0
ioo;o
100.0
12.6 5/
12.9 5/
87.1*
191*3.
213.350
19l*3-rebruary.
Marcn. . .
221*. 356
-1,106 1/
51*.
55.773
1*9.630 1/
1*7,958
1*8,339
1*0,650
7.U3U
7.309
100.0
100.0
86.
1,671
667 1/
226,216
W*,791 1/
1*3,018
1*3.267
5i*.ioU
37,501
37,530
51*, 391
5.517
5.737
100.0
100.0
100.0
87.2
86.7
36.81*5
32.1*30
31.371
5,1*71*
27,1*27
31,306
27,098
5.001*
1*,207
100.0
100.0
100.0
85.1
SU.6
86.6
81*.
15.9
81.
78.9
18.
21.1
8U.3
85.5
li».5
April.
May...
June.
227,989
221*. 771
213,350
July
August
September.
207,275
201*. 158
October.
November
December
.
.
.
igUii-january.
1/
1.77I*
1/
-3,218
-11.U21
1*0.01*8
52,683
9.711*
201,1*53
-6,075
-3.117
-2.705
30,770
29,313
28,600
197,91*2
202. UI5
203,061*
-3.511
4i,U73
61*9
35,1*62
32,771
39,565
38.973
35.091
6,202
28,51*3
1*3.585
1*2.937
33.896
6.51*8
9.0l»0
100.0
100.0
100.0
906
200,577
1,S*2
37.1*51
-U,329
31*.
35.610
39.322
30,027
33.625
5.582
5.698
100.0
100.0
201*,
February.
590,268
993
Dally Treaaury Statemente conmenclng HoTemljer 1, 19**?; prior
thereto. Poet Office Department.
Figures for periods prior to November 1, l^^+S are not strictly
comparable vlth subsequent data because of the shift to a Daily
Treasury Statement baala. Stamps sold prior to October 1, igU?
were known as postal savings stamps and were obligations of the
Postal SaringB Systeir but subsequently became public debt obll-
87.1
81*.
81*.
13.3
15.2
5
12.8
13.3
15.2
5
1U.9
15-1*
13.1*
15.7
defense series of stamps went on sale. The amount of the old series of
postal savings stamps outstand Ing on April }0, IS^X was $150 thousands.
Details not avedlable for Kay June, and July 19U1.
Incliides minor amounts which
ere exchanged for postal savings certlflcates. These aggregated $123 thousands for the period August 1, 19^^!
through June 30. 19^*2 and $55 thousands for the period July 1, 19U2
throu^ October 31. 19^2.
Net of sales less redemptions
See footnote l/.
Does not include amounts trans ferred from Postal Savings System to the
Treasury to cover outstanding tampe.
'
gati ons
Estimated on the basis of samples cowlucted by the Post Office
Department
Sales and redemptions eommenoe with May 1, 19^1 vhen the special
Table 2.- Sales, Classified by Denomination
Percentage distribution of sales
Sales In thousands of dollars
?lBcal year
or month
Total
all
danoai nations
6,087
308,621
590,268
191*1.
191*2.
191*3.
19113-February.
March.
.
.
Denomination
all
1(M
1*00
67.1*66
126,327
25^
2.691
167.709
313,691
1,012
28,6ll*
52,508
$1.00
$5.00
85I*
1,130
31.583
71.693
13.250
26,01*8
12.771
12.290
28,511*
u,5e£
U,001
6,1*05
2,1*12
25.576
5.652
2,
3.59'»
5,085
1,665
April.
H.7...
June.
ltU.791
11.2gU
23,161*
l*0,0l*8
9,701*
52.683
10,531
20,983
28,257
July
August ....
September.
30.770
29.313
28.600
5,1*62
5,1*09
6,561*
15,783
15,361
15.053
October.
35.1*62
9,106
17,1*91*
HoTefflber
39.565
10,1*1*3
December
1*3.585
11,235
20,330
22,129
19Ul+-January.
37.1*51
11,150
10.511
19.072
17,799
February.
304
1*9.630
^,667
31*.
993
Denomination
Total
HO
denominations
50^
tl.OO
16.6
9.3
8.9
18.6
10.2
12.2
lU.O
53.1
23.1*
2lt.8
52.2
51.5
8.3
8.1
11.7
u.u
11 .U
1*.2
25.2
24.2
20.0
51-7
52.U
53.6
8.0
11.
10,!
25^
100.0
100.0
100.0
6.6
21.9
uu.a
21.lt
100.0
100.0
5'*.3
3.358
9^2
l*,57i*
1.1*29
It,
6,803
2.151
100.0
100.0
100.0
2,990
2,803
l*,l*25
2,110
1,550
1.192
100.0
100.0
100.0
17.7
51.3
18.1*
2,708
1,359
1.997
1.203
95c
2,1*10
190
3.382
It,
2,556
2,987
3.187
3.599
2,51*1
3,1*85
2.363
3.371
Dally Treasury Statements commencing
(1) Total sales:
NoTember 1. 191*2; prior thereto Post Office Department;
Based upon Post Office
by
danoalnatloss:
(2) Distribution
Department data.
u,itit6
5,038
$5.00
1:1
3.7
8.1*
11 .u
3.6
9.1*
12.9
It.i
9.7
9.6
ll*.l*
6.9
52.lt
23.0
52.6
8.1*
1U.3
11.8
1:1
100.0
100.0
100.0
25.7
25.8
50.8
7.2
7.6
7.3
10.2
26.
1*9-3
51 .&
11.5
7.6
3.U
U.6
100.0
100.0
29.8
50.9
50.9
6.8
6.8
9.3
9.6
3.2
2.7
30.0
U.2
U
5
..
.
.
U
U
3
U
U
U
3
U
U
Treasury Bulletin
Uh
Sales of United States Savings Stamps
-
(Continued)
Table 3.- Sales by States
(In thousand! of dollart)
19US
ISU}
19UU
I9U3
riscAl 7»ar
r*t>.
Mar.
Apr.
Aw.
July
Nfi7
S«pt.
Oct.
Dee.
Jan.
P
AlabM*
U,
382-U
158-7
250.8
39U.9
190.2
271.9
296.9
2,963.3
357.8
1,089.8
3.3i'»'.8
3.1*86.1*
3,256-6
372.9
1.090.3
371*.
6
29i*.9
1.083.3
1.013.3
101.8
132-3
1*U2.9
''53-2
1*89-7
85.2
U21.U
531.5
582.3
613.8
1*91*.
''79.3
U9U.5
125.9
3,593.9
1*58.6
1*22.1
127.6
3.101.1
87.2
6I*.9
2.833.1*
1,222.3
720.6
1.213-2
353.5
g3U.8
l.STU.T
215-1
1.765-8
2.970-7
352-1
157.6
2o,i5:.6
?,OS0.3
39.726-1
U,083-l
7.707.''
l'».375.6
71'».2
6.100.1
3,705.9
1.298.6
5.591-7
6.188.3
3.175-5
sui.o
J3. 613.9
5.621.2
i.'«5-5
39,970.3
138.9
3,203.7
7.516.9
575-5
J.532-9
1U,176.U
9,010.3
5,576.8
1,150.6
675-5
502.7
3.0J6.2
}.U2g.o
1.725.5
5.'«7.6
6.IIU.6
3,619.'*
U36.I
511.3
300.7
5.785.2
1U.U13.6
13.721.6
9,211.3
27,025-9
26.161.1
763.7
1,975-5
2.15U.2
Minnesota
Mississippi
Missouri
U.037.7
1,508.3
7.326.U
7.961.5
3.082.6
7I8.3
235.8
1,219.8
21*2.5
l*. 223.5
1.235-''
1.353-1*
Montana
1.050.7
2.371.8
381. U
1,87'».0
''.531.1
678.
156,1
379-0
161.0
375.6
57.6
170.0
395.3
5U.0
125.0
312.2
1,150.8
13.313.7
720.3
2.276.5
23.206.8
1.252.8
175-6
1.850.3
17'*. 2
2.001.2
105.5
170.1
1.760.3
105.1*
180.3
2,057.2
117.1
81.1*
53,060.7 106.793. 2
'.79'*. 6
3.089.7
801.2
1I558.8
8.019.8
593.6
139.7
3.793-1
631.8
126.5
8. 939-''
Arl to&a
Arkuisat
California
Colorado
Connactlcut
Dalavar*
Dl»t. of
ColuaMa
riorlda
Oaorcla
Idaho
Illlnolt
Indiana
lova
Xanaaa
•*.
XitntuclQr
Louisiana
Maine
Maryland
Kaioacfautettc.
.
.
Michigan
Set)raslca
Kerada
New Haopshlre.
Hew Jers«7
!!•> Mexico
.
5ev Tork
Vorth Carolina.
Berth Dakota
.
.
2i*3.3
52.6
115. Ii
193-1*
51*5-0
630.
i*
1.0T8.3
6U2.3
UlU.U
33l*.9
71*3 -3
571.1'
950.3
7l«.2
67.8
293-1
1W3-2
57.6
268.3
338.9
110.6
16«.2
327-2
6U.J
2.357.5
58.7
1.760.3
366.2
90.1
37U
35.5
2,226.7
2, 538 .0
2.1*35.2
778.3
511.1
767.7
1.339.2
521*.
5'i9.3
978.8
730.7
362.2
913.8
578
288.1*
656.3
712.9
207.7
365
31*0.7
326.9
1W3-7
139.6
U50.O
356.0
196.6
1*26.2
1101.2
362.1*
21*3-6
228.3
1*99.6
1'75.''
737-0
662.3
1,380.0
1,237.7
1.280.1
1.223.9
2,0311.9
1.91*0.1
1,722.1*
596.5
1.695.6
1.503.5
507.0
156.1
772.3
i'i*3.o
61U.6
53'*-9
U83.2
139.5
713-5
202.1*
169.5
1,006.6
ll»«.2
531.3
156.5
1.097.3
910.2
9''7.7
9I1.6
au.u
117.0
273-7
29.5
U3.1t
1*6.9
11*3-9
179.1
1.776.1
29U.8
365.0
306.6
330.2
297-5
302.2
350-0
21U.9
787-9
81*0.2
2.297.''
2.575-6
2,237-1
2.1*96.8
727-2
2.125-9
1.931-9
558.6
I.6U3.0
1.393-3
817.2
551*. 3
21*9.1*
I85.1
1.030.6
1*03-7
ll*0.2
786.1
310-9
926.1
597-1
338.1
1,033-7
711.9
301.2
1*20.9
U6U.1
1.1*17.1
56.
156.6
1,578.6
36.3
7.835-9
6.6)*U.9
5.1*10.7
U,
6.11*7
625.6
167.5
1*55-'*
31*^.3
'*5l*-5
31*6.2
103.1*
71.5
101.2
85-3
7,170.U
U36.9
95-1
2.922.0
U58.6
531.2
2.1*99-5
1.8U6.3
250.0
U62.7
1,521.1*
2,271.3
302.7
369.0
1.679.1
252.5
231*. U
2,0U3.9
251-9
31U.3
2.609.3
2.38l*.0
3.797.8
3,366.5
3l'2.2
ll»2.U
250.7
115.7
82.6
265.0
1,027.3
'',020.3
U.S86.3
U.566.3
3.82lt.S
2.821.9
31*7.1
391.1*
1*39-2
190.5
202.0
217-9
372.9
151-7
292.lt
l.ligg.?
5,172.3
2.207.8
832.2
2.952.8
11.520.8
l.5'»6.l
137.1*
ll«.9
5.685.8
20.1U1.6
1*38.7
1*5 It.
155-6
U62.3
101.1
359.6
27lt.8
122.5
91*.
3
863.0
1,702.1
1.686.9
1.916.1*
l.itUU.7
1.11*3.6
21't.O
222.7
108.8
671.6
283.3
116.1
737.0
IU5.2
100.0
559.1
105.5
82.9
373.0
128.0
82.7
629.2
108.7
78.0
36U.3
672.0
379.3
735.5
609-2
251-5
I.03U.5
70.1
lt03.8
18lt.5
1*51-1*
657.5
53.9
76I1.3
359.6
186.7
629.8
U2.0
15.6
212.3
32.8
9-1*
709.9
355-0
1,123.6
1.151-1*
1.199.9
89.1*
105.6
111.1*
Alaska
Hawaii
Puerto Rico
Other Dossesslons
66.1
1.238.7
166.8
190.2
2,339.3
329.0
12.5
11.0
2l*.0
30.5
20J.8
21*9.3
37.''
253-"*
15,906.6
•8.527.6
368.
70.0
11.
37.9
97.9
259.0
37.0
U3U
85-5
177.6
339.1
207.7
126.
l.it6o.7
762.9
202.3
1.083.3
11*3.3
307.8
108.1*
6.281.9
1*85.2
138.2
1,929.3
272.2
303-5
2,051.7
259-9
350-1
2,1*1*0.2
3.139-8
267.1
1J2.2
3.250.3
310.6
1*5.8
3. 980.lt
95.0
32&.5
1.21U.1
133.0
U16.6
V
85-7
3ll*.0
1,373.U
,229.
15.0
2,01*1.3
100.8
371*.
990.
67-7
765-7
2,068.6
1,816.6
1.687.5
6.11*8.8
1*09.3
10
569."
266.0
315.2
5,836.2
356.7
109.3
98.0
593.2
221.9
61*2.2
1,507-7
80.2
98.
521.8
1*38.3
73-0
1*15-5
155-9
10V8
136.1
88.7
6U5.5
llU.l
6g.O
706.2
''91.5
530.
U5lt.8
51*2.1
260.0
932.2
56.0
233-3
825-3
56.1
270.1
903.1
60.2
16.1
208.1
U1.8
10.3
12.3
181.6
30.2
2.2
15.3
186.1
26.2
2.2
151.8
83.0
31*1.9
til. 6
331.3
185-3
1.31*1-1
191-7
99-0
561.8
578.8
326.9
1.082.7
83.2
12.lt
1.2
•2.585-8 •»20.23l»-7 -1.916.1*
1,866.9
12.038.6 •l,39i*-6 5,970.7 7,339-2 -l*.329.3
52.683.0 30.770.2 29.313-1
23.600.5 35.1*62.* 39.56'*-7 '*3,585-* 37.*5l.5
1.5
140U.3 -6.622.5
225-3
311*.
8U1.8
31*7-9
3'**.5
1.031.7
9-7
68.0
27.6
1.0
33-5
SU, 667.1 lt9.629.3 l'l',791.5
69.
132.1*
223-3
292.9
102.2
309-5
1.177.9
8.12U.7
U.oiU.;
12.535-0
1.018.8
p
Wt3.9
136.3
2,693.8
I7U.6
1,650.6
77.1
ll9,l«68.2
308.621.3 590,267.5
2.I*0U.9
110.1
1,032.8
53-"
27.075.3
3.087.6
ItO,
0*8.2
Dally Treasury Stateaeots; (2) Sales hy States:
Post Office Departaent.
Prellalnary.
(1) Total sales:
318.0
75.6
2.178.3
118.0
1.152-5
59.6
PennsTlvanla
Rhode Island
South Carolina.
Source:
93-7
288.0
395-0
126.6
1*33.1
Total
2.578.9
239.1
906.6
1*5.5
5.323-'»
idjustmeot to
Dallx Treasury
Statement
292.1
21U.3
35.6
2.739.3
.7
I.809.7
271.1
93-8
152-2
127.8
281.1
2,882.0
388.2
U65.O
7.315.1
259-1'
I190.5
333-0
103.1
162.5
78.3
23U.U
31.6
3.909 .2
2.W»9.7
5.728.3
"93.6
108.3
362.3
U52.9
2.658.1
isu.i
'•33-6
Vaehlo^ton
Vest Tlrglnla
Wisconsin
Wyoaln«
393-3
1.31*9.9
2.850.9
390.2
107.5
6oU.l
87 .U
3it«-5
2.190.5
219.3
387.5
Tersont
Tlr«lnla
79.9
336.7
2,312-7
216.5
788.8
598. U
2.1*36.2
1,31*0.0
2,991.0
171.0
iteo.o
963-U
705-8
U.051.8
2,675-0
2U8.U
862.3
125.0
32.9''9.U
l».Wt2.0
Dmh
2.28U.9
216.0
8I6.3
11*3-9
18. 269.
2.'l«9.1
South Dakota
Tennessee
Texas
19l*.6
326.5
81.
Ohio
Oklahooa
Oreeoa
.
IU7.2
21*0.3
1*63.9
1*9-2
38U.5
1*7.8
288.2
93-9
198.6
562.9
309.8
692-1
10g.lt
218-6
7?.l
166.6
112.
28.5
1-3
U0.9
28.7
i90.lt
3i*.l
13
227.1
27.9
2.3
March 1944
^3
OWNERSHIP
OF
GOVERNMENT
SECURITIES
^^6
Treasury Bulletin
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued
by United States Government and Guaranteed by United States
(la Dllllont cf doli.ui.'
ftid of fl«c«l
J9mt or aoDth
W44
starch
^7
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1944
The following tablea present summary data from the Treasury survey, as of
January Jl, ISkh, of the ownership of securities Issued or guaranteed by the
United States.
The large commercial and savings banks and Insurance companies
covered In the survey account for approximately 95 percent of the holdings of
United States Government and Government-guaranteed securities held by all banks
and Insurance companies In the United States.
Table I.- Analysis of Ownership by Type of Security, by Call Classes,
and by Tax-Exempt Provisions
PART A - PAR VALUES IN MILLIONS OF DOLLARS
Puljllc marketable Interest-bearing flecuritiSB 1/
Held by banks and insurance companies
covered in Treasury survey
Held by
U.
Clasalfl cation
I.
Total
amount
outstanding
Total
7.555
institutions
S.
75^ insurance companies
6,801 banks
6,290
511
commer- savings
cial
banks
banks
2/
209
life
insurance
companies
Government Held by
agencies
all
51*5
and trust
other
fire
funds, and investors
casualty
Federal
and marine Reserve
insurance
Banks
companies
^
By type of seexirlty
Securities issued by Ubited States
Treasury bills
13,101
''.931
lt.901*
11
15
13
2
6.962
1,209
Certificates of indebtedness
22.«l*3
13,779
13.1«1
13.335
1U6
299
137
162
2,827
6,236
Treasury notes
n.175
7.801
7.5"*
7.366
178
258
131*
121*
731
2,61*2
Treasury bonds
67,91*
't7.37''
314,236
28.835
5,1*01
13.138
ll,l*gl*
I.65I*
5.203
15,368
•
1
«
3'*
IU6
35
223
191
31
586
707
5.770 13.932
11.959
1.973
16,3't'*
26,307
Other bonds
196
16
15
15
U.078
2.785
2.563
2.528
119,337
76,686
62.75U
56.983
'*3.35'*
22.571
21,831
21,591*
237
71*0
U7I*
266
10,982
9,800
22,503
16,905
15,298
lit,
708
589
1.607
1.169
1*39
l,l*U5
i*,l5lt
30,015
22,570
19,202
16,805
.397
3,368
2,722
61*5
1,1*61*
5.981
10 to 15 years
6.9*1
"»,376
2,882
2.373
509
1,1*91*
1,172
322
662
1.603
15 to 20 years
6,itgit
t,'tl3
1,'»15
6U6
769
2,998
2,816
182
579
1.1*92
10.316
5.530
2,118
850
.267
3,713
3,59''
119
1,210
3.275
23
20
8
7
12
12
119.337
76,6g6
62.75'*
56.983
5.770 13.932
11.959
1.973
l6,3i*'t
26,307
2,128
U99
1169
U67
30
27
262
1.367
Guaranteed issues U/.
II.
By call classes
Due or first becoming callable
Within 1 year
1
to 5 years
5 to
10 years
Over 20 years
Federal Housing Administration debentures
III. Bj
tal-exemption provisions
Wholly exempt from Federal income
taxes
^
Partially exempt from Federal income
taxes 6/
27.326
19,021
15.61*6
ll»,892
75"
3.375
2.325
1.01*9
2,771
5.53''
Subject to Federal Income taxes
89,583
57,166
U6.639
Ui,62U
5.01I*
10,528
9.631
897
13.311
19,1*06
119,337
76,6s6
62.T5U
5^,983
5.770 13.932
11.959
1.973
16.31*1*
26,307
Total
(Continued on following page)
8
U
S
,
Treasury Bulletin
hS
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1944 - (Continued)
Table I.- Analysis of Ownership by Type of Security, by Call Classes,
and by Tax-Exemption Provisions - (Continued)
PART B
-
PEHCENTAOE DISTRIBUTION BX CLASSES OF SECURITIES
Paklle aarlratabla int*r»t-b«arlac ••mirltla* 1/
R«ld
Total
iBOont
OQt-
Cluitflcstlon
taallBC
^
banks tai iBaorane* coapaDlaa
covarad in Tremauyy turwtj
7^
£.801 banks
fottl
7.555
lutltutiona
6.290
Total
By tjpe of tectirlty
Securltlee isnied 1^ United Statee
Treasury Mils
Certiflcatat of Indetitedness
Treasury notes
Treasury bonds
Other bonds
Oiarantsed Issues
11.0
19.1
9.»*
56.9
6.U
IB.O
10.2
61.
•
3.^
}*/
3.6
100.0
Total
7.B
21.5
12.0
5U.6
banks
g.e
23.U
12.9
50.6
•
U.l
U.U
100.0
100.0
3U.8
2U.U
30.6
37.9
25.8
29.5
I1.6
U.2
?.3
1.1
1.5
V
S.
Bald V7
ac«nel«i
all
5U5 flr«. and tnitt
20Q
other
casualty ftindB. and
litm
InTettore
and aarlna federal
inauranea
lasuranoa Re terra
eoBpanlai
ooapanltt Banka }/
2/
I.
tJ.
iBaorano* eoapftnl«t
5U
aarlD^l
dal
Bald
0OT»mB6Dt
U.6
.1
.1
.1
U2.
2.1
1.8
9U.3
1.1
1.1
96.0
8.2
6.3
83.8
17.
23-7
U,
10.0
31.
•
•
•
58.
>o
1.6
1.6
1.6
2.7
100.0
100.0
67.2
8.8
9-0
U.O
3.5
37.3
II. %r call classaa
Dua or first becoaln^ callabla
Within
1
yaar
36.3
18.9
25.2
5-6
S."
8.6
to 5 /aari
5 to 10 yaars
10 to 15 jraars
1
15 to 20 Tsars
Orar 20 /aara
Taderal Rousing Administration dabantoras..
100.0
Total
1:1
By tax-axanptlon provisions
Wholly axaapt from 7ad«ral Income taxee
Partlalljr exempt from federal Income taxes 6/
Subject to Taderal Income taxea
^—
29. >t
22.0
5-7
5.8
7.6
U.l
10.2
UI.5
8.B
13.3
22.0
5.3
11.5
2U.2
10.7
21.5
26.6
U.O
9.8
22.8
9.8
23.5
30.0
.1
.1
13.5
22.2
32.7
16.3
9.2
6.0
7.'t
15.
22.7
6.1
5.7
12.5
March 1944
1^9
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1944 - (Continued)
Table II.- Distribution of OwnerBhlp for Each Issue Outstanding
PART A - PAR VALUES IN MILLIONS OF DOLLARS
I3BU8, clasaified by
tax-exemption provlBlon
Treasury Bulletin
50
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1044 - (Continued)
Table II.- Distribution of Omership for Each leeue Outstanding
PART A
t«x-«x««ptlon proTltlon
-
PAR VALUES IN MILLIONS OF DOLLARS-( Continued)
-
(Continued!
March 1944
51
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1944 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding
PART B
-
PERCENTAGE DISTRIBUTION
-
(Continued)
Treasury Bulletin
52
Sianary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, January 31, 1944 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding
-
PART B - PERCENTAOE DISTRIBUTION BY GROUPS OF INVESTORS-! Continued)
(Continued)
March 1944
PRICES
53
AND
YIELDS
OF
GOVERNMENT
SECURITIES
(Including securities issued by Federal agencies)
i
I
5**
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 29, 1944
Table I.- Securities Issued or Guaranteed by the United States Government
TkRJ A - TAXABU: B0ND8, NOTES, AND CERTIFICATES
iwnat
March 1944
55
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 29, 1944 - (Continued)
Table I.- Securities Issued or Guaranteed by the United States Government
PART
AfflO\int
out3tandIng
(Millions)
- TAX-EXEMPT BONDS AND NOTES
-
(Continued)
56
rcasuni Bullet HI
Tr
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
February 29, 1©44 - (Continued)
Table
II.
-
Securitiee Issued by Federal Agencies but not Guaranteed by the United States
PART A
Aao-jnt
out•
tudisc
{KU1103.)
-
ISSUES QUOTED ON A PRICE BASIS
March 1944
57
YIELDS
OF TREASURY SECURITIES
Based on Mean of
Closini^
Bid
FEB. 29,
and Asked Quotations
1944
Treasury Bulletin
58
Revision of Average Yield Series of Long-Term Treasury Bonds
two series showing aTerage yields of
The
The
long-term Treasury bonds have been revised.
nature of and reasons for these revisions are
The new figures on a monthly
discussed below.
basis are shown In the table whloh follows and
the revised weekly figures will appear In an
early Issue of the "Treasury Bulletin".
Taxable Treasury bonds
The new average yield series of long-teim
taxable Treasury bonds consists of all taxable
Issues not due or callable for fifteen years or
Heretofore the average has consisted only
more.
of those Issues which were not due or callable
for twelve years or more and whloh were available
Prior
for purchase by all classes of Investors.
to March 15, 13kh there were two taxable Treasury
bonds whloh satisfied both of these qualifications -- the 2-1/2 'B of 1956-58 and the 2-1/2 'e of
(The 2-1/2 's of 1956-58 would have gone
1967-72.
There
out of the old series on March 15, 1944.)
were, however, six other taxable Treasury bonds
I.e.
whloh satisfied the first qualification
but
were not due or callable for twelve years
these Issues were "restricted" In that commercial
banks were not permitted to purchase or hold them
for periods ranging from two and one-half to ten
years after Issuance. 1/
—
—
When the restricted bonds were first Issued,
them from the
It seemed desirable to exclude
average yield series of long-term taxable Treasury bonds because of the limitation on who could
hold them; but since then the typical long-term
taxable Treasury bond has come to be a restricted
It has
Issue and not an unrestricted Issue,
seemed desirable, therefore, to revise the average and to measure the movements of taxable bond
yields primarily by reference to restricted IsInasmuch as the market appears to maJLe
sues.
very little distinction In terms of yield between
the long-term restricted bonds and the unrethe new
stricted bond of comparable maturity,
average Is composed of all long-term Issues without regard to restrictions.
The revision from a twelve-year to a fifteenyear minimum term should Insure a greater degree
of homogeneity among the components of the aver-
The market In recent years has tended to
change Its concept of "long-term" securities, and
this Is the second time that It has been necessary
to revise the average yield of long-term Treas(Prior to
ury bonds by raising the minimum term.
October I5, 1925i ^^^ average consisted of all
bonds with eight years or more to first call
date.)
The situation Is Illustrated graphically
In the chart on page 57, which shows that differences In yield associated with differences In
term are substantial among Treasury securities
due or callable In less than fifteen years, but
relatively small among securities due or
are
callable In more than fifteen years.
age.
If the old series had been maintained, there
would have been an Increase dt I5 basis points In
the average on March 15, 19'*^ as a result pf the
2-1/2' 8 of 1956-58 dropping out of the average.
Such an Increase points up the desirability of
lengthening the minimum term of the average.
The revision covers the entire period from
October 20, ig^-l when the 2-1/2 's of I967-72 were
first Issued.
There has been no change In the
basis of computation of the average as Indicated
In the footnotes to the table.
Partially tax-exempt Treasury bonds
Inasmuch as the Interest rate structure of
partially tax-exempt Treasury bonds resembles
closely that of taxable Treasury bonds, the case
for lengthening the minimum term for Inclusion In
the series In order to achieve greater homogeneity appears to be Just as great In the case of
the partially tax-exempt bonds.
Accordingly,
this aeries was revised to consist only of those
securities having fifteen years or more to earliest call date.
This revision of the partially
tax-exempt average has been extended back to
November 30, 1935 when the new and old averages
were Identical.
1/
There It a alnsr exception In that during the fourth
War Loan coamerclal banXs holding saving depoelta were
penaltted Halted purehasea of certain reatrlcted ia•nea.
See article on "Security Pnrchaaea Ontalde the
?ourth Var Loan tj Coooerclal Banka and Treaaiuy Inveatment Accounta" which a^peara In the firat aectioa
of thla laaue of the 'Treasory Bulletin".
Average Yields of Long-Term Treasury and Corporate Bonds
March 1944
59
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent per annum)
Dete
-
(Continued)
60
51Sir.
—
o
Treasury Bulletin
I
March 1944
61
GOVERNMENTAL CORPORATIONS AND CREDIT
AGENCIES OF THE UNITED STATES
.
.
.
62
Treasury Bulletin
Assets and Liabilities of Government Corporations and Credit Agencies
January 31, 1944
(In
CorporatloD or ftc«nc7
32U.7
1.809.620.8
eoop«ratlTa>
CoBBodlty Credit Corporation.
I>itaBt«r Loan Corporation....
Bcclct for
Ixport-Iaport Bank of Vashln^on.
Tarv Credit Administration
Fare Security Adsinlttratlon
Federal Crop InB^irance Corporation
Federal Deposit Insurance Corporation.
Federal Fara Mortgage Corporation
Federal hose loan ban)ct
Federal Housing Adalnlatratlon. .
Federal Intermediate credit banka.
.
Federal land ban)CB hj
Federal National Kortca«e Association.
Federal Prison Industries, Inc
Federal Public Housing Authority
Federal Savings and Loan Insurance
Corporation
Federal Security Agency - student war
loans 5/
Federal Vorks Agency:
Public Works Aiialnlstratlon
Var Public Vorke- conanmlty facilities
Hose Owners' Loan Corporation
Inland Vaterways Corporation
^
Interior Department (Indian loans).
Fana&a Railroad Coepany
Production credit corporations
^
Puerto aico Reconstruction Adalnlatratlon
Eeconstnictlon Finance Corporation 6/.
Regional agricultural credit corporations
RFC Mortgage Company. The
Rural Flectrlficatlon AdDlnlstratlon.
Tennessee 7alley Authority
Tennessee Valley Associated CooperatlTee. Inc
United States Maritime Cooicleslon
Var corporations and actlTltiae (Vorld
War I) 8/
Mmr corporatione (Vorld Var II) 2/Var Shipping Adninistratlon
Other OoTemsent agencies 10/
Grots total.
Adjustment to eliminate Interagency
interests
Ret total.
mllllou of doliart)
March 1944
63
Assets and Liabilities of Government Corporations and Credit Agencies
January 31, 1944 - (Continued)
(In millions of dollare)
Llabllitlee and reserves
Proprietary Interest
UaWlltloB
Guaranteed
by United
States
(Includes
accrued
Interest)
Corporation or agency
Banks for cooperatives
Commodity Credit Corporation
Disaster Loan Corporation
115.3
Owned
Due to OoTernment
Sot
guaranteed
Ijy
corporations and
agencies
States
Treasury
602.7
31*0.6
Other
209.
Federal Crop Insurance Corporation
Federal Deposit Insurance Corporation....
Federal Farm Mortgage Corporation
Federal home loan banks
Federal Housing Administration
Federal intermediate credit banks
Federal land banks U/
Federal National Mortgage Association....
Federal Prison Industries, Inc
Federal Public Housing Authority
Federal Savings and Loan Insurance
Corporation
Federal Security Agency - student war
loans ^/
Federal Works Agency:
Public Works administration
War Public Works- community facilities
Home Owners' Loan Corporation
Inland Waterways Corporation
^
Interior Department (Indian loans)
Panama Rai Iroad Company 2/
Production credit corporations
Puerto Hico Reconstruction Administration
Reconstruction Finance Corporation 6/....
Regional agricultural credit corporations
HFC Mortgage Company. The
Rural Electrification Adminletration.
Tennessee Valley Authority
6.2
?og.6
163.8
17.3
1481.2
l,0ll2.2
.2
.2
6.0
5.3
158.5
10.3
7.0
3U.1*
87.8
26.5
319.5
938.5
8.1
22.7
3.6
319.2
U2.7
1.398.9
1-7
.5
.5
U08.7
n't. a
2.1*
.13U.7
193-7
199.3
316.6
175-0
18.
208.1*
193.7
199-3
316.6
lll*6.3
9l*.9
8-9
289.3
108.8
199-7
103-7
89.6
75-0
.2
.1
79.'»
1*73-0
212.8
1.51*6.7
1*0.
283.2
1,073.1 1/
1.9
139-3
1*0.0
-31.1
8.3
121*.
12U.7
103.7
89.6
120.2
10.0
11*0.0
ll*2.0
1U2.0
1.0
I'-tl.O
lllS-S
li»5.3
100.0
U5-3
3.5
3.5
72.1*
72.1*
U.O
.9
.3
23-5
23-5
2.6
2.6
90.1
225.6
81.6
17.7
United States Maritime Commission
War corporations and activities (World
War I ) 8/
1.762.5
1.735-6
War corporations (World War II) 2/'
War Shipping Admlnietratiop
8,97'*.?
387.'*
3.6
5l*.2
13.6
13.6
U.O
127.6
1*7.2
11.5
2.6
127.2
7-0
120.0
123.0
22.6
738.6
22.6
738.6
325.0
.3
62.1*
62.1*
Ul*.5
17.9
27.6
131.9
621.7
27.6
131.9
621.7
25.0
2.6
2.1*
l*.l*
l.U
25.5
3.1*
72.1*
200.0
12.0
127.2
51*.
^1
.1
.3
86.5
225.6
57.0
29.6
260.2
23-6
13.3
72.1*
31.1
103.7
60.0
23.6
13.3
U.O
6.806.8
199.3
316.6
150.0
100.0
72.1*
609.6 2/
1.6
-3.3
8.9
32.2
U.2
27-1
150.0
108.8
28.5
10.3
1-9
2.2
8.3
Nonstock
Surplus
17U.0
100.0
2H.0
2.1*
ll».8
8.6I15.6
.2
1.2
Capital
stock
owned
-3'*. 7
87.
1. 1^79.
1.607.9
1.2
.7
United States 11/
201.1
-3U.7
20.7
.2
,1
Sxport-Import Bank of Washington
Tarm Credit Administration
Farm Security Administration
Prlvat ely
Ijy
20.7
96.1
900.7
(Total
proprietary Interest)
tjnlted
17.9
1.8'»U.S
Beservee
Excess
of
assets
7.2
22.6
1*13.61/
131.9
621.7
Tennessee Valley Associated Cooperatives, Inc
Other government agencies 10/.
Gross total.
Adjustment to eliminate Interagency
interests
Net total
!i/
1/
.1
.1
8,055.8
918.
127.1
1.1
216.7
28.258.8
2l6.7
U,
298.0
5,687.2
-16,979.1*
11, 279.
U, 298.0
5
259.3
.3
5.639.5
lt.7
l*-7
25-1.
-23.9
3-3
-551.7
U7U.9
-551.7
186.8
758.7
20.2
U7U.9
9,21*6.8
9,21*6.3
8,01*7,8
8,931.6 1,29U.2 19,286.3
8,01*7.8
8,931.6
if
8/
2/
10/
11/
5.639-5
1*71*.
'35-3
U35.3
9,2UO.O
6.8
.U
lUl,2
-633-7
-1.0
13,351.0 2,131
-63U.7
63't.7
1,29U.2 15,651.6
5.687.2
Dally Treasury Statement.
LesB than $50,000.
ExcludeB unexpended balances of appropriated funds.
Includes deposits with the Reconstruction Finance Corporation and
Interest thereon.
Represents chiefly commodity losms and underlying security taken
over from lending agencies pursuant to guaranty purchaae agreements.
Also includes commodities acquired throu^ direct purchases from
producers and others, as well as Interagency transactions of "lendlease" funds which figures are not available, and which would otherwise be shown under "Dae from Govemnent corporations and agencies".
Includes the assets and liabilltiea of the Federal Land Banks of
Loulevllle and Houston which have retired stock and paid-in surplus
previously held by the Federal Government.
Figures shown are as of December 31. 19^3. the latest available.
Includes the Electric Home and Farm Authority which was transferred
for purposes of liquidation to the Reconstr^ictlon Finance Corpora-
•
.3
5.639.5
18,216.3 l,U97.6 -1U2.2
16, 360.
1 6.360.8
tion by Executive order effective October 31. 19^2.
Adjusted for interagency items and items in transit.
ConprlseB Kavj' Department (sale of surplus supplies), U. S. Housing
Corporation, U. S. Railroad Administration and U. S. Spruce Production Corporation.
Comprises Cargoes, Inc., Defense Homes Corporation, Defense Plant
Corporation. Defenae Supplies Corporation, Institute of InterAmerican Affairs. Institute of Inter-American Transportation, InterAmerican Educational Foundation, Inc., Inter-American Navigation
Corporation, Metals Reserve Company, Petroleum Reserves Corporation,
Rubber Development Corporation, Rubber Reserve Company, Smaller War
plants Corporation, U. S. Commercial Company and War Damage Corporation.
Comprises Treasury Department and other Government agencies not
listed in this statenent.
Excludes the interest of the United States represented by obligations held 1^ the Treasury.
61*
Treasury Bulletin
Sources of Funds of Certain Government Corporations and Credit Agencies
for the First Seven Months, Fiscal Year 1944
Corpontlon or mtmcf
March 1944
65
Uses of Funds of Certain Government Corporations and Credit Agencies
for the First Seven Monfhs, Fiscal Year 1944
Corporation or agency
66
Treasury Bulletin
Sources of Funds of Certain Government Corporations and Credit Agencies
from Inception of Organization through January 31, 1944
Corpor«tloa or •cancj
March 1944
67
Uses of Funds of Certain Government Corporations and Credit Agencies
from Inception of Organization through January 31, 1944
Corporation or a^ncy
Treasury Bulletin
6g
INTERNAL
REVENUE
STATISTICS
March 1944
69
Summary of Internal Revenue Collections i'
(In thouBanfla of doliare)",
.
'.
,
Employment tejes
Incooe and profits taxes
Social Security taiet. ^/
Fiscal year
or month
Corporation
Income and
excess
profits
Individual
2/
Miscellaneous
profits
taxes Uy
y
2,672.239
3,281.792
193"*
1935
1936
1937
1938
3.'»9'*,330
U,63U,308
5,6U3,g3lt
819. 656
1.105.788
1,U27, 1*1(5
2,179.828
2.629.016
527.113
67'»,ltl6
1.09l,7ltl
1,286,312
lit
.
509
112,786
207.339
502.917
5S.119
90.267
33.7'iO
71*0,1*29
109.1*27
833.521
925.856
1,185,362
529.835
605.350
687.327
895.336
28,270
22,538
11,687. 1159
16.298.876
3,262,800
6,629,932
27,010
37.172
56.621
9.58l».703
8ll.2lll
1,1*98,705
1.131,5116
1.055,902
't33.759
185,299
2iiii,6S9
291*, 3 38
isii,307
81 .761
March
5.273.'*2l
U, 868, 220
l.97it,90?
2,872,526
3.771
20,785
26,276
919
2,819
April
May
June
l.'t72.335
l,36lt.980
1.007.599
S28
107.038
lt,383.1t20
It,
July
August.
September.
1.99s. 885
1,672,217
It, 613,2^9
1.231,ltlt2
October.
November.
December.
2.179.567
2.089.229
5.017.358
2.088,'»86
3.133,366
2.U76,722
19'*0
19U1
igiiz
19''3
igUvFebruary.
.
.
.
iglA-January...
February.
5.162,355
5,322.768
7.351.531
13.029.912
22.368,713
2,185,105
2,129,606
l,028,83lt
3,1»71.122
8. 006. 880
1.1117,655
1.122.531
1,120.579
2.016.295
982.017
753. ''77
026. 1*91*
kg
287
265.7115
71*2.660
31.178
101,167
106.123
100,658
119.617
156,00s
1939
Carriers'
Taxing Act
of 1937
2.631
6.560
397.516
572.115
738.520
1.056.909
1.299. 918
1119,509
Federal
Federal
Unetiployment
Insurance
Contributions
Tax Act
Act (Old-age (Unemployment
Insurance)
insurance)
11*9.1176
122. OUS
137,871
170,1109
211,151
681, 6lf
511. 1107
''325.15't
239.127
2.9113
1^,031*
238.910
203,1110
5.8'»9
9.0117
1,813,5U8
2.205,58ll
7.362
27.71*7
2.593
1,186
873.819
511,977
3't7.376
10,2lt7
2,S7l|
115.826
263.723
.27.863
109.533
222,363
U,8U6
l,Wt7
8,51*7
32. 813
2,9119
937
23,977
llU,b6l
108,1*05
207.05!
5.Ug6
8.339
1,086
770
27. '137
S't.530
-
813.577
U. 191, 77s
2,01111,715
298.726
2.132,387
1.6It3,578
1,086.1151
5lig,lilli
1, It 70, 850
l,l'*7.55''
307.579
3.713
15,717
U, 590, 615
2,175.565
2,1110.218
11.832
21*2,827
38,1*50
1.58lt,390
1,039.535
2,075,328
538.653
396. 189
6.202
5.205
122,183
317.390
111,676
1.1*96
36,859
97.336
199,51*8
7.11*7
26,U53
23,968
35,868
791*
2o,ao6
Miscellaneous internal revenue
Fiscal year
or month
Capital
stock
tax
193'*.
1,1*81, 160
1935.
1936.
19371938.
1,61*9,782
80,168
91.508
2,OOll.5ll*
911.91*3
2,188.735
2.272,158
137. 1*99
l?9,3't9
1939.
2,236.521
19110.
2,359,61*1
2,9511.553
3.837.670
li. 571. 132
127.203
132.739
166,653
281,900
328.795
330,805
378,925
216
392
19I1I.
19I12.
19'*3.
19113-February.
March. .
.
April.
Itay...
June.
July
August ....
September.
Fetate
and
gift
taxes
ManufacAlcoholic
beverage
taxes
Tobacco
taxes
25s. 911
1125.169
1*10,926
505,21*3
593.831
567,670
158.776
500,786
551.923
567.777
360.715
360,071
587,605
579.781*
62U,c61i
1*07,058
319, «G9
1,01*3,165
608.072
697.712
780.792
923.557
113,138
212,112
378. SUO
305. SI'S
1*16,8711
1*32,51*0
Ui*7;if96
1.1*23,1181
191*1*- January.
February.
Source:
1/
2/
2/
'
1^17,156
371, "123
526.222
62.323
379,5'*0
91,052
76.172
1*119,8511
80. 161
itl6.75'i
117,501
396,891
1^13
*1*7,05S
1^*8.926
1*5,155
617,373
852,069
670,015
206.831
*00,501
732.333
Ul,083
38,681
39,057
11,702
.
5^*0
3,551
51, '59
50,1*20
l*,Ui9
17,178
65.222
36.659
112.757
76,681*
'5,793
71.339
79.821
5,115
5.127
1,993
39,195
63,806
79.981
60,902
85,771
89,965
ll,021
59,1*38
192. 61^*
510
86,351*
3,81*1
55,538
52,751
103,312
70,699
.90;oi3
3/93?
109.271*
365
28,672'"
115.231
651,617
135.61*5
1*7
5911,917
187.876
a'',8'*7
393.608
3't.636
125,168
128.869
V7.3,15
,910
28,012'
1*0,713
1.22.57'*.,
3'*,
253
117.303
-1*2
36.1U3
120,191*
381.913
59
52.181*
339.25't
21*7
38,1*1*9
107,886
108,395
Reports of collections.
Excludes collections for credit to certain trust accounts for
territories and insular possessions, etc. (except for the fiscal years 1929 through 193^1 when they aggregated less than $1
million a year)
Includes victory tax collections and collections under the
C\irrent Tax Payment Act of 19113
Excess profits tax imposed under the Second Revenue Act at
191*0, as amended.
.
It,
60. 1139
'
20,063
366
.
390,038
3't2,275
79.5'*''
1*6,31*0
375.552
388,293
66.580
13.133
68.990
69,919
'6.233
Agricultural
adjustment
taxes
6/
6».2i*7
193
21,328
taxes
excise
taxes
128,299
120,528
K
October.
November.
December.
Miscellaneous
turers' and
retailers'
6l;'6U2
28,613
702
372.593
329.179
31*1*,
Stamp
taxes
'ii/'
5/
£/
'
93,058
87,101
3,93'*
53,568
56.156
85, ,653
70, 1*32
3,999
61t.39l*
7 6,.201*
77.211
',275
U,122
68.029
72,269
57.923
67. 1*70
f
62,6>13
Consists of- the declared value excess profits tax. the jroflt
limiting provisions of the Vinson Act. and the tax on unjust
enrichment.
For the period prior to September 1939 the data In the columns entitled Federal Insurance Contributions Act and Federal
Unemployment Tax Act represent collections under Titles VIII
and IX, respectively, of the Sec; al Security Act.
Inpludea la^ collections tinder th^ Sugar Act of 1937 and un,der-the dlyide^nda tax imposed by the Act of June 16, 1933.
Treasury Bulletin
70
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to
1943
First
DOLLARS
Billion*
8 Months Fiscal Year 1944
DOLLARS
Billions
Total
1929
DOLLARS
DOLLARS
Biii'O"'
17
Individual
income
BIHiont
Corporation Income
14
and Excess Profit*
;
I3r
II
10'
9r
Aijricultural
Employment
Adjustment
-
Liiiiilt
Other Miscellaneous
Internal
1929
* Includtt mi»c*lhn*ov» pr^it tOKtt
Revenue
March 1944
71
Detailed Analysis of Current Internal Revenue Collections!/
(In thousaAda of dollars)
First S months
SoTirces of revenue
f^bruary
Fiscal
year
19U3
191*1*
Income and profits taxes:
Individual:
Withheld ty employers (Current Tax Payment
1,8U3.7U9
Act of 19'*3 ) 2/
Victory
tajc
(Revenue Act of I9U2)
Other:
Current J/.
Back
Corporation:
Income taxes;
Current
Back
^
1*.
581, 019
7SU,o67
221.311* l.555.'*70
5,1*1*0,682
92,678
11*9.177
2,075.328 1,61*8,1*52 10,9514,91*5
61*. 1*82
.
191*1*
30U
1.099
9.166
Total Individual Income taxes
year
31.857
1.979.230
196.655
2,1*86,637
372,652
Excess profits taxes (Second Bevenue Act
of 19UO as amended)
299.850 l,766.U26
1*,
Total corporation taxes
396.189 3,91*2,311
6,979.5'»1
Miscellaneous profits taxes;
Declared value
Vinson Act
Unjust enrichment
Total miscellaneous profits taxes.
Total Income and profits taxes.
Employment taxes:
Social Security taxes:
Federal Insurajice Contributions Act (Olda^ 1 ns urance )
Federal Unemployment Tax Act (Unemployment
Insurance)
Total Social Security taxes
Carriers' Taxing Act of I937
Total employment taxes
Estate tar
50.711
192
16
1,1*19
39
380
5,205
52,322
68,1*65
2,1*76,722 5,61*3,085 13,002,951
I99,gl*8
820,883
97.336
137,106
163,1*36
297.181*
957.989
1.099,611
20,206
127. 71*9
11*3.312
21*7
36,9't3
01ft tax
,
Alcoholic beverage taxes:
Distilled spirits (Imported, excise)
Distilled spirits (domestic, excise)
Distilled spirits rectification tax
Wines, cordials, etc. (imported, excise).
Vines, cordials, etc. (domestic, excise).
Brandy used for fortifying sweet wises
(repealed as of July 1. igl*0)
Dealers in distilled spirits; rectifiers;
manufacturers of stills (special taxes)
Stamps for distilled spirits intended for
export
Case stamps for distilled spirits bottled
in bond
Cental ner 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
Cigarette and cigar floor taxes
(
Total tobacco taxes
68,0U6
5.189
317.390 1,085,738
MlBcellaneoue Internal revenue;
Capital stock tax
120, 252
1,506
23.7''3
1*0,689
1*6.380
U85.7it7
1,580
13.1*61
337
2,117
23,656
1*05
5.'*^6
1
60
757
82
38,923
991
7.770
95.96I*
283 213
,
25
2,630
108,395
965,690
2.539
li*,015
9
63
17
555,1*86
5
60,988
631
3.210
86
I*,
901
32.61*3
889
3
8.1*52
67.U70
616. U69
936.175
Treasury Bulletin
78
GOLD
AND
SILVER
STATISTICS
March 1944
73
Gold Assets and Liabilities of the Treasury
(In mllllona of doHare)
Liabilities
End of calendar
Sold
year or month
Assets
OoM
Certificates 1/
8,238.6
10,122-9
11.257.6
12,760.0
19351936.
19371938-
lit.
511.
Exchange
Stabllltstlon
rund
Oold Reserve
against U. S.
notes, etc. 2/
5,27l*.0
7.679.5
8,959.6
9,212.3
11.872.8
y
9old In
aeneral Fund
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1,800.0
1.800.0
1,008.6
1,800.0
1.800.0
1.800.0
1,800.0
1,800.0
1*08.9
1*87.1*
31*1.9
1,591.6
682.1*
21.99'*.
19,825.1*
22.736.1
22,726.3
21,937.8
20,561*.
20,611.9
19,821.0
156.0
156.0
156.0
156.0
156.0
22,61*3.8
156.0
156.0
1,800,0
1,800.0
i';i*.3
22,575.7
20,=i33.7
20,1*70.8
April.
May...
June.
22,1*72.7
20, 360.
22,1*26.1*
22, 387.
20,318.1
20.261.3
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
156.2
152.3
150.2
July
22.331*.
20,219.1*
22,21*2.8
September.
22,175.0
20,127.7
20,067.1
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
1^9.1*
Au^st ....
October.
KoTenber.
December.
22,061*.
20,002.6
19,953.1
19,821.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
157.1
155.6
160.7
19. 800. 7 r
156.0
156.0
1,800.0
1,800.0
161 .u
17. 61*3.
19391940.
iqui.
igUj.
191*3.
19U5-retruary.
March.
.
.
22,115.7
21,937.8
21,918.2
21,711.5
igUU-January.
February p.
.
Source:
p
r
1/
>t
.
Daily Treasury Statements,
Prelimi n ary,
Revised.
Comprises (1) gold certificates held by the public and in Federal Eeserve BEmlcs; and (2) gold certificate credits in (a) the
15.278.6
19.591.1
2/
^
213.2
215.3
158.1*
160.7
iUg.9
159.1
151.9
l6l*.i»
Gold Certificate Fmid - Board of Covernors, Federal Reserve
System, and (b) the Redemption Fund - Federal Reserve notes.
Reserve against United States notes and Treasury notes of I890.
Excludes gold in active portion of Exchange Stabilization Fund.
Monetary, Stocks of Gold and Silver
(In millions of dollars)
Oold
($35 per
fine ounce)
End of fiscal
year or month
7.856.2
9.115.6
1931*
Silver
($1.29* per
fine ounce)
12,318.3
12.963.0
1,1*63.1
2,21*9.5
2,51*2.1
3.066.1*
191*0
16,110.1
19,963.1
3.605.2
3.939.6
191*1
22,621*. 2
l*.ll*8.7
191*2
22,736.7
22,387-5
i*,to6.3
l*,29S.5
22,61*3.8
1*,
1935
1936
1937
1938
10,608.1*
1939
191*3
•
19l*3-February
112.0
l*,306.8
March
22,575.7
April
May
June
22,1*72.7
1*.
22,1*26.1*
U. 298.9
303.9
22,387.5
*.298.5
July
AugUB t
Sept ember
22. 331*.
22,21*2.8
1*,
22,175.0
1*,
October
November
December
22.115.7
i*.223.7
22,061*.
1*.
igUU-January
February p
Source;
p
Dally Treasury Statement and Circulation Statement of
United States Money,
Preliminary.
21.937.8
21.918.2
21.711.5
1*.
29U.it
276.0
233.1
Ratio of
sliver to gold
and silver in
monetary stocks
10.3
13.8
17.5
17.2
19.1
18.3
16.5
15-5
15-9
16.1
16.0
16.0
16.1
16.1
16.1
16.1
16.1
16.0
i*.207.3
16.0
16.0
16.1
173.6
U.1U6.9
16.0
16.0
It.
212.7
.
5
.. . .
.
u
7
U
3
2
Treasury Bulletin
7^
Components of Silver Monetary Stock
(Is
llllou
of dollwi)
SllTor held In TreasTur
S«eurlB« ollTer
Ind of calvndAT
jev or Bonth
SllT*r tolllOB
193^
1935
1936
1937
193«
SllTar dollar*
ail
SllTar outtlda
Traaaury
la Oanaral fund
eartlflutai 1/
Su^Bldiarj
coin ?/
Bullion for
raooinaca if
8.8
soe."*
Bullion
at coat
89-3
262.7
m
576
775
938
1,137
508.
.2
505.7
503.7
502.7
.3
1939
19U0
19U1
19U2
19^3
1.298.2
'199.0
5.3
616.0
1.W8.1
U9U.6
23
657.
I.U76.I
1.516.2
1,520.0
ItgU.l
U6g.3
3.5
9.2
lU.U
19U3-Tobniarjr...
1,516.3
1,516.8
U66.g
U65.5
1,517.9
1,518.8
1,519.7
1*58.7
it
''53.3
36.
1.519.7
1,519.7
1,519.7
'A5.9
U29.9
U26.5
35^2
27.2
1,519.7
1,520.0
1.520.0
U22.O
U10.3
Uoo.u
26.5
21.7
Ik.k
1.520.0
1,580.1
396.7
395.9
17.3
March
April
May
JUaa
July
ia^at
Sapteo^er
.
Octo^r.
..
.
BoTea^ar
DBceater.
.
.
.
19UU-Januar7
Tebruarj p.
Sonrca:
p
SllTar
dollar! 1/
535.3
uoo.it
19.1
613.9
606.0
30.
35.
U63.6
80.
81.6
350.1i
366.9
372.8
3,3^.8
3.790.2
060.0
U,2UU.g
U. 317-6
",207-3
U22.U
•93 -5
587-3
68U.7
U.
590.0
596.0
'',312.0
60lt.7
''.303-9
612.7
623.1
U,
fr}3.2
l',29U.U
W2.2
U,
589.1
58U.9
567.3
87.5
88.8
90.7
19.1
560.7
553.8
551.8
92.3
9U.0
96.8
20.2
18.2
538.7
528.6
97.7
98.5
685.5
686.6
re
1/
2/
Ug.l
52.5
63.0
78.8
96.8
1.279-7
1.970.1
2,U02.3
2,eo6.5
305.3
323-5
85.7
.2
.2
•
38.
kl.f
UJ.U
uu.u
Subaldlary
coin 1/
600.0
593.6
592.1
1.5
19.1.
Dally Treasury Stataaent and Circulation Stataaant of Qhltad
States Money,
Prellainary.
662.3
628.2
551.8
35.2
Total illTar
at 11.29
par oonca
U.306.8
u,
298.9
298.5
65U.g
276.0
U.2J3.1
663.6
l'.2?3-7
67lt.2
U, 212.7
''.207-3
68U.7
''.173-6
U.1U6.9
Lees than t50.000.
Valued at $1,294- per ounce.
Valued at $1.38+ par ouaea.
Silver Production In the United States and Silver Acquisition by Mints and Assay Offices^/
(In ailllone of ounoet or dollara]
SilTer
production
SllTar acquired by ainta and assay offleaa
in
Calendar year
or Bonth
nhlted
States
latrly
Blned domeatic
SilTer 2/
Hationalized
ailTor 1/
Torei^ SilTer U/
Dollara
Outtcaa
21.8
19351936.
19371938.
1*5.6
63.''
61.1
71.3
61.7
70.6
61.6
1939-
63.9
67.0
69.1
60.7
68.3
70.5
5''.
I47.9
igito.
19U1.
19U2.
19U3-
19U}-february.
March
April.
May.-.
June.
lU.l
27.3
"7.3
5U.6
k2.k
110.6
2.0
55-3
1.0
.h
.2
355.'»
UO.I
Ug.5
50.1
3U.O
3.9
''5.3
5-5
3-"
3.9
.1
.6
.1
3.8
3.2
3.9
1.6
1.3
1.2
1.1
172.5
U9U.U
271.9
2U1.5
282.8
139.8
72.6
1''.3
-5
-9
.8
g6.5
30U.9
318.
53''. 3
150.3
10«.7
156 ..9
312.2
U17.1
120.5
50.9
27.1
6.0
333.''
Holla
m
197 -g
163-3
199-1
3U3.3
208.0
160.6
11*3.1
77-2
62.1
5-5
ItO.O
.1
.6
.1
1.6
1.3
1.2
1.1
99-''
3.9
.5
.9
.g
u.i*
July
An^st.
.
.
Septeaber.
October.
VOTeober
Dscsaber
19UU-januar7..
february.
2/
38.0
Ounces
u.o
2.8
.2
.2
.1
.1
I'.
''-5
3 3
1/
SilTer production:
Annual Reports of the Director of the
Mint for annual fl|:ures throu^ 1939; releaaea of Aaerican
Bureau of Metal Statistics for all latsr flcures.
Less than 50.OOO.
Tor infomatlon on stlTsr production in other countries froa
1933 thronch I9U0 or I9UI, sea "Treasuiy Bulletin" for
August I9U3, pan 7''Aequlrsd at 6'>.6U+ cents per fine ounce until April 9, 1935;
at 71-11'* cants per fins ounce froa that data until April 23.
^
U/
^
1935; at 77.57* cents froa April 23, 1935 to Docoaber 31,
1937: at 6>i.6>'* cents per fine ounce froa Dsceaber 31. 1937
to July 1. 1939; and at 71. II* cents sine* July 1. 1939.
Acquired at 3O.OI cent* per fins ounce. fxecutlTe Proclsaiation of Au«ust 9. 19311. repealed April 28, 1938.
Acquired at Tarlous prices aTaraflBc approzlaataly 51 cents
per ounce.
Hot yet aTal labia.
March 1944
75
Seigniorage on Silver
(CunnilatlTc from January 1, I93U - In
mllionB of dollars)
Sources of seigniorage on silver bullion revalued l/
End of calendar
year or month
Seigniorage
on silver
and minor
coins
Misc. silver
(incl. silver
Sewly-mlned
Newly-mined
silver (Act
silver (Proc.
bullion held
Dec. 21, 1933) July 6. 1939)
June lU. 193U)
U8.7
i9i^
1935
1936
193?
1933
18.5
Us.
ItS.l
Us.
Us.
Us.
63.7
69.5
.u
16.
36.0
58.
7U.9
Silver Purchase Act
of June 19.
I93I*
Nationalized
silver
(Proc. of
Aug. 9.
1931*)
Total
seigniorage
on silver
revalued
Potential
seigniorage on
silver hulllon
at cost In
General Tund
2/
51.1
226.2
302.7
366.7
U57-7
28.5
3U.5
3U-7
3U.7
3U-7
128.7
326.2
U22.1
5O8.I
616.0
132.6
27U.9
705.6
759 -U
799-7
950.6
1,055.8
1.089.0
1,0U8.2
967.3
'521:1
758-8
U.2
25-7
530.7
562.7
Us.
63.6
65.3
580.
Ug.7
87.3
87.6
87.6
87-6
87-6
58U.3
58U.3
3U-7
3U-7
3U.7
3U.7
3U.7
Us.
Us.
87-6
S7.6
63.6
63-9
5SU.3
58U.3
3U.7
3U-7
SIS.
261*.
819.2
i.ous.u
1.038.9
271.9
277.5
280.1
Us.
Us.
Us.
87-6
87-6
87.6
6U.U
6U.8
65.2
58U.3
58U.3
58U.3
3U.7
3U-7
3"*.
819-7
820-1
820-5
1,036.6
1.029.5
1,029.5
July
August.
September
283.3
286.0
288.9
Us.
Us.
Us.
87.6
87-6
87-6
65.2
65,2
65.2
58U.3
58U.3
5SU.3
3U-7
3U-7
3U.7
820-5
820.5
820.5
1.026.5
1,020.0
989-7
October.
November.
December.
293.2
297-1
299-6
Us.
87.6
87.6
87.6
65.2
65-3
65-3
58U.3
58U.3
58U.3
3U.7
3U.7
3U.7
820.5
820.6
820.
978-5
968.7
967.3
301-9
303-6
Us.
Us.
87.
65-^
S7-6
65
58U.3
5SU.3
820.6
S20.7
9U3-9
926.8
1939
19UO
igUi
igUs
91.7
122.2
182.1
i9'»3
299.6
19U3-5'ebruary.
March. ...
257-5
April
Hay
June
.
191*1*- January.
February
Baale:
1/
~
US.
Us.
Us.
Us.
Ug.7
Us.
Daily Treasury StatementB.
These Items represent the difference between the cost value and
the monetary value of silver bullion revalued and held to secure
silver certificates.
2/
^
818.
820.6
y
The figures in this column are not cuinulative; ae the amount of
bullion held changes, the potential seigniorage thereon changes.
Increase due principally to cumulative adjustment in computing
average cost per ounce.
Treasury Bulletin
76
OTHER
TREASURY
STATISTICS
W44
March
77
Net Capital Movement to the United States, 1935 through December 1943
[in thousands of dollars.
Net capital outflow (-)|
Analyeia of net capital morement
Net capital
movement
Movement in
ahort-term
banldng funds
Movement In
brokerage
balances
Movement In
transactions
In domestic
securities
Movement In
transactions
in foreign
securities
Calendar year:
1335
1936
1937
1938
1939
(-"an.
2. 19-!5-Jan.
1, 1936).
(Jan.
2, 1936-Dac. 30. 1936).
(Dec. 31, 1936-Dec. 29. 1937).
(Dec. 30, 1937-Doc. 28, 1938)(Dec, 29, 1938-Jan.
3. 19'»0).
19'K)
(Jan.
(Jan.
(Jan.
(Jan.
k,
Total (Jan.
2,
191*1
19'»2
191*3
19l40-Dec.
1,1*12,1>S6
961*,
1,195,922
801,915
255,59"*
1*15.256
629
397,3l»2
1.195,635
331.268
1,132.383
6.039
6.811
687
31*.
316.660
600.693
135.158
191.076
2l*l*.626
267. 008
3lt
57.196
26.758
32.990
-85.1*27
115. 6S9
20.358
-2l*5.062
-1*9
-261.955
"16.599
27.767
73.156
51.703
-7.36U
77.696
31, I9U0)
19Ul-Dec. 31, 19U1).
1, 19U2-Dec. 31, 19't2).
1. Wl*3-Dec. 31, I9U3).
706. 380
-1*96,923
6oi*,321
852,928
-336,622
561.573
1,283,593
l,l6i*.758
3.513
13.372
1935-Dec. 31, 19l»3).
7.118.585
5.373,853
117.755
701,097
925.880
.
73.376
57.339
327
12.338
3.372
72,750
107,175
132,152
151,809
119.683
61.505
2.658
-600
2.131*
5.205
-2.503
9.881
-86.922
.
June
65,206
70,330
223.795
22l«,8l*5
922
-1.027
3.662
-lt.537
-3.565
-175
July
August ....
September.
1*9.592
170,31*2
1*5,011
58,720
59,027
1.903
1*20
i*,392
-13.91*0
.698
5.283
l.OW
21!
111*. 900
October.
November.
December.
133,267
168,979
W*,99U
135.679
-71*7
163.1136
I.30I*
55.551
2.383
1.
Month:
191*2- December.
19113-January.
.
February.
March
April
May
.
Back Figures:
June
191*2
September
Monthly data for the period January 191*1 thrtjugh
may be. found in the "Treasury Bulletin" for
191*3.
page 73.
58,289
311
71*,
565
6.937
-389
-687
2,715
-9.008
-9.1*05
58.632
-91*2
21.1*99
-97s
1.521*
-3.932
C^O-;fiJ-
'n
/
Treas.
HJ
IQ
.A2
1944
C.2
\-
U.S. Treasury Dept.
Treasury Bulletin
@FedFRASER