Full text of Treasury Bulletin : March 1948
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LIBRARY
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9,11972
TREASURY DEPARTMENT
^MmMFm
MARCH -I94B
UNITED STRTES TREflSURV DEPRRTMENT
OFFICE DF THE SECRETBRV
March 194S
Table of Contents
Treasury financing operatlone
Page
A-1
Summary of fiscal operations
1
Budget receipts and expenditures
2
Trust accounts, etc
g
Treasury cash Income and outgo
10
General Fund of the Treasury
I3
Debt outstanding
ll(.
Statutory debt limitation
I7
Debt operations
Ig
United States savings bonds
2k
Treasury savings notes
27
Ownership of Federal securities
28
Treasury surrey of ownership
30
Market quotations
jlv
Yields of Treasury and corporate bonds
37
Internal revenue collections
39
Monetary statistics
kj
Capital movements
47
Corporations and Certain Other Business-Type Activities - Income
and expense, and sources and application of funds
5^
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percentages) have been made from unrounded figures. Consequently the details may not add to the totals shown.
March 1948
A-l
Treasury Financing Operatione
February Certificate Maturity
A one-year Issue of 7/S percent certificates
outstanding In the amount
of
matured on February 1, 19'4-g.
On
January 20, 19'^S, the Secretary of the Treasury
announced the offering of a new one-year 1-1/g
percent certificate In exchange, par for par, for
of Indebtedness,
l3,9'^7 million,
the
maturing certificates.
were
received.
not
dated
February 1, 19^S,
Cash
subscriptions
certificates are
and bear Interest from
The
new
that date at the rate of l-l/S percent per anntim.
Interest will
tificates of Indebtedness were
In
redeemed In full for cash.
Exchange subscriptions for the new Issue amounted to $2,189 million, leaving iHk-3 million to be paid In cash to
holders other than Federal Reserve Banks.
Treasury Bills Refunded and Retired
be paid In full with the principal
The cer-
on the maturity date, February 1, 13^9.
form only.
Subscription books were opened on January 20
and closed at the close of business January 22.
Holdings of the maturing certificates of Indebtedness by the Federal Reserve Banks,
which
amounted to $l,6ll| million on January 30, were
denomlnatlona of
Issued
In
$1,000,
bearer
|5»000,
Reductions In
again
took
place
Treasury
In
January.
bills
The
outstanding
five
Issues
maturing during the month totaled $5.9 billion
and the total refunded was $5.6 billion.
The
$10,000, #100,000, and $1,000,000.
first
Reports to the Treasury on the ownership of
Government securities Indicate that on December 31>
19it.7, about 70 percent
of the •3.W million of
refunded In full, but each
was reduced by $100 million.
Bill retirements from April 17, 191^7, when the
first bill reduction occurred, through January 29,
19't-8, have totaled
$2.2 billion.
The
average
rates of discount for the five January offerings,
certificates maturing February 1 were
two maturities were $1.3 billion each and
the last three $1.1 billion each.
The first two
owned by
reporting commercial banks and Federal Reserve
The ownership figures for December 31
Banks.
are
the
latest which are
available for holdings
maturing Issues were
of
the
last
three
beginning with
Reserve
that dated January 2, were 0.952
percent, O.950 percent, O.976 percent, 0.981 percent, and 0.990 percent, respectively,
Hotel Historical details of Treasury narket financing operations are shown In the tables on 'Offerings" and
'Disposition", respectively, of marketahle issues of
bonds, notes, and certificates of Indebtedness, and
the tables on "Offerings and Hattirlties of Treasury
Bills", in this issue of the Treasnry Bolletln".
both
Banks.
of
commercial
banks
and
Federal
March 1948
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In Bllllona of doXlara)
Budget reoolpta and sxpaaditnrea
Ktrlet
•t
Ixpsndl-
rualptt
tnrM
3/
or
deflelt
(-)
Trait
aoooonti,
•to. - net
reoelpta,
or oxpead-
Itwei
Clearing
aooonnt
V9t
Inoreaae
In
d«M, or
deoraaa*
(-)
BaM outataollac
0«neral
JtmA
'balanttt
(-)
(-)
2/
Lerelt, end of parlod
lBor«eM9
1b 0«B«ral
JrmA balance, or
daor«ai»
FiOillo
d«W
Qaara&teed
aeoorltlaa
Total
Tedar&l
aeonirltlaa
naaal yaarai
5,029
5,855
5,165
5,387
1937
1938....
1939
19*0
19»H
7,806
7,031
9,027
9,385
-2,777
-1,177
-3,862
-3,918
-20,676
-52l»
751*
-1,103
555
1*5,210
37,728
39,669
7,i*«3
-1*69
-1*00
l*,80g
-159
.
.
.
.
Tetoruorj'.
.
.
22,236
3,767
i»i»,il3
-2,512
1*3,977
1*1,51*3
2,1*31*
26,003
3,502
3,097
278,115
259,149
256,900
567
339
81
278,682
259,487
256,98!
l»,ll«
5,013
(.860
-l,0l*2
3,1*35
21*3
26,003
25,427
2S,96l
24,367
278,115
278,887
279,214
276,012
567
55s
551
553
278,682
279,445
279,764
276.565
544
552
i*76
274,443
273,135
269,898
3,819
3,678
3,61*1*
-1,105
2,932
2,755
1,723
2,361*
i*,i07
2,965
2,529
3,662
.
3,820
3.113
706
.
'*,378
3,9W
l*6l|
5,701
3,598
2,102
-1,1*1*5
Majr
2,556
2,865
U,001
3,851
Jose
5,1*73
5,5'tO
July
^l^at ....
2,397
2,536
Septeaber
l*,872
3,669
3,060
2,932
Ooteher
Vorenber.
Seeenber
2,390
2,1*1*5
2,71*3
1),2U6
2,19s
3,221*
1*,275
2,879
.
.
.
19^-Januax7
Bevrcel
1/
S/
}/
-895
1*,1*78
lu^at ....
April
64,262
112,471
170,108
232,144
47,484
-18,966
-2,249
5.352
March
6,324
4,301
4,230
1,514
-123
-1,386
-350
Joly
.
250,968
246,262
-'•3,59'*
1,902
ret)ruaZ7
68
62
ss,9u>
-1.591
-1,131
-873
1947 -January
250,900
246.200
lt6,0H€
l«l,601
3,8H5
.
2,536
2,484
57,938
108,170
165,877
230,630
11,26)!
3, 8611
.
-772
-51
3,560
10,543
2,677
2,733
U,H79
Ooto^er..
leTOB^er
SeeeDber
-7,386
-4,700
1,632
6,983
1,751
9,942
5,71*7
8eptem1)er
259,115
269,898
258,376
12,913
50,232
57,707
64,753
April
June
433
476
90
1*80
-55,691
-53,650
Marck
Hay
258,682
269,422
258,286
-1,788
-266
-1,161
i»;^i
Month*
19U^9acea1>er
191*^-47 ajmarx
24,698
14,238
3,308
-1*1,1*61
19*5
19U6
,
*,529
-10,460
-10,930
-11,762
16,1)03
19*3
191*
191*7
57,679
10,740
-11,136
20,610
57,863
90,2U4
98,071
8,849
19lt2
55,332
76,991
140,796
202,626
791
63,711*
1*2,505
Calendar jeara:
igUi
6,370
4,568
4,100
1,623
5,??l*
1*3,038
l»3,259
w»,urr
48, 361
72,422
136,696
201,003
23,1*61
64,271*
-53,91*1
(Istlaated)
I9U9 (latlmated)
2,633
2,991
9,507
20,169
908
-1,613
-338
-2,222
-6 159
100,397
19>t8
64,307
742
358
6,515
10,662
-21,1*90
-57,1*20
-51,1*23
46,U57
19*7
41,089
42,018
45,890
48,496
3,275
2,528
1^3
igW
31*,
4.665
4,853
5,451
5,529
1,210
UU3
lA,li»9
7,607
12,799
22,2(2
36,425
37,165
«0,44o
42,968
71*0
i|!2:::::::::::::
,
2,553
2.216
2,838
1,891
2,61*6
13,766
289
79,702
95,572
191*2
-128
-338
622
-9U7
3
98
-22,J02
-319
-307
-36
-295
12,773
772
327
-3,201
272
-2,114
-1,316
-3,161
-2,398
-4,298
20,935
18,536
14,238
?73,898
272,583
269,422
-1,152
-724
-2,177
-2,209
-989
-868
12,029
11,040
10,171
268,270
267,546
265,369
333
379
268,603
267,924
265,768
-1,837
-1,255
-3,128
-2,101
-1,405
-3,163
8,070
6,665
3,502
263,532
262,277
259,149
386
370
339
263,918
262,646
259,487
628
270
188
182
260, 046
1*8
-265
318
27
-1*99
.366
-1*8
-1*20
120
36
-165
tUs
-5S
11,558
-577
531*
-1,593
-3,1*33
-69
215
-72
-56
102
39
1,210
2,422
-224
4,711
1,642
-2,294
6,909
259,776
261, 418
259,124
202
62
-6J7
67
37
3
-1,423
642
-57
-2,598
-245
-758
4,312
4,066
3,308
257,701
258,343
258,286
178
177
90
257,880
258,521
258,376
-11*6
1,161
649
-953
-239
332
552
3,069
3,400
3,952
259, 44«
1,91*0
17
37?
-3l»
260,097
259,145
80
79
76
259,528
260,176
259,221
569
1,022
-1*68
-74
-859
-1,312
155
-172
-538
4,107
3,935
3,097
259,071
258,212
256,900
83
89
81
259,155
258,301
256,981
1,396
259
-326
1,551
4. 648
256,571*
77
256,651
-987
-67
-1,272
-5*
'
362
-21*0
12,29'*
69
265
-173
-la
211*
-127
-80
Actual flgnrea fron SaHj- freasuzy Statement; eatlmatea from 1949
Bod^t doenaent, Including effect of proposed legislation.
Qroas receipts less amouJitB tranaferred to federal Old-A^ and 9nrTlTora Inaurance Irast fknd.
Szcludea aaoujita for public debt retirement wtalch are chargeable te
the ainklng fund, etc., onder apeclal prorlalona of lavl includea
net ezpeudlturea of OoTemment corporations vfaolly owned, etc.
Comprlaea truat aocounta; ealea and redenptlona of aecurltles of
7,131*
261,606
259,306
OoTemaent eorporatlone. etc.. In the market (net); Increment on
goldt seienlerage on ellTort and mlacellaneous fonds and accounts,
yigares exclude retirement of national bank notes chargeable
agsLlnat Increment on gold (fiscal years 1937-1939).
Clearing account for outstanding checks and telegr^ihle reports
from Taderal Heaerre Banka; Increaae, or decreaae (-).
...
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table !•- Summary by Major Claeslf tcatlons
BllUoM
(Ib
Of dollar*)
eolpti
^
lzp«Bdltar«t
Approprlattoat
to T»d«ral
01d-Ac« lAd
SttrrlTon
Insnraaee
Trust fvoL
L«aa:
Tltckl jear
or Bonth
OrooB
roeolpli
lattm*-
atlenU
tefau*
OB
Bd
patlle
dabt
flBOBOa
Budeat
ScfOBd*
or
T«t*rfta»
tlonal
*ld
14Blal>trstloa
urplus,
tiLxea
total
•xp«nditurot
Other
tetlet
or
deficit (-)
s/
19110
19hl
igHs
19^3
19146
5,937
8,295
13,«95
550
6«8
896
23,ltl2
l»5,lii»l
,130
,292
5,3«7
7.607
12,799
22,282
Ul|,lll9
1,657
l,0ltl
28;2il
75,297
89,720
1,111
1,260
1,808
2,609
557
563
556
602
730
3,617
l»T,766
,310
illS::::::::::::
A.276
1*8,870
19''7
"*6,U57
113,038
1*3,259
90,501
91
9U
5,959
5,369
U,ll3
1,915
267
2,2li6
90
2,060
1,715
11,722
'*,253
3,03li
2,505
2,108
9,305
13,766
-3,918
-6,159
311,289
-21,l»90
79,702
95,572
-57.1120
-51,'*23
100,397
-53,?Hl
-20,676
75U
»Ht.718
23«
"59
17,279
727
U,Ui5
U,958
7,259
3,050
5,5^
(litlaated)
'•«,g37
1,627
1*5,210
11,7U2
11,916
5,200
6,U99
2,Cit6
7,325
37,728
7,1*83
1949 (latlaated)
116,1199
2,022
1A,I»77
11,2U0
6,55^
5,250
5,811
1,986
8,8li8
39,669
11,808
Z.UTO
72
2,397
2,536
2ll5
120
103
1,067
glU
l»,g72
103
668
56U
511
(911
53
£1*1
3,669
3,060
2,932
-1,272
619
it.ss;
981
910
1,008
691
2>S6
1,15'*
lUl
2,llU5
II
1115
2,19U
972
U81
526
568
1*57
150
218
53
1*17
3.2211
5U9
1,022
223
Uoi
52l*
78
5gli
2,879
1,396
19lt«
19l»7-Jttly
iki^it
Sapteaber.
October.
loTeabar
Saceaber
.
.
.
.
.
.
19lt8-J«imar7....
2,it56
68
l-Z
66
310
lU
U,2lt6
936
996
••,310
35
'*.275
1,069
2, 390
2,71*3
Actual flguree froa Sail/ Treasury Statament; eetliiiAtet froa
docuaeat, InclndXa^ effect of propoeed legislation.
13119
157
127
Bod^t
63,711*
1*2,505
-5211
1,9110
ftotnotes at and of Table 5*
Table 2.- Gross Receipts by Principal Sources
(In Bllliona of dollars)
Internal reTenue
Vlsc&l 7ear
or sonth
Total
(TOSS
receipts
hplojiBeat taxei
Xncoae and profits taxes
Total
Internal
rerenua
k/
Vlthheld
Total
other
fotal
emplojara
01d-a£«
iDsuraneo
5/
19I10
191*2
5,937
8,295
13,695
19"*3
i9iiu
l»5,lilil
igits
17,766
19116
191*7
iiii,276
19U1
23,lll2
llll,718
601
691
tJnwiploy-
ment
Insuraoce
6/
Mlacellarneous
B&llroad
retlreBont
Customs
Intero&l
rereaao
All
other
receipts
2/
2,125
3,170
7.960
16,091
26,262
833
925
1,186
1,198
1,739
896
1,130
1,292
108
98
120
158
180
121
137
170
209
267
2.315
2,967
3,8l7
1.553
5.291
319
392
38?
32I
131
10,289
9,392
10.013
21, 881
21,193
19,292
1,780
1,701
2,021
1.310
1.238
1,159
185
180
185
285
283
380
6,919
7,725
8,019
J55
U9I
I[8'l5
5,303
7,362
12,993
22, IW*
11,685
2,125
3.170
7,9*0
16,091
31,655
8,393
13,902
10,310
39,379
35,173
30,885
29,306
285
5I2
9I1I
3,325
3.510
19118
(Istlaatad)
'•6,837
12,056
31,199
11,327
20,172
2,395
1,627
211
557
8,162
391
1,387
19119
(Istlaated)
>*6.>m
13,781
32,661
11.757
20,907
2,828
2,022
221
582
8,292
378
2.337
2,1*70
2,126
2,662
1,267
1,382
1,668
3,135'
625
1,255
797
757
113
2,639
80
352
133
72
2
3
116
663
6U3
699
37
31
31
307
9
6
13
2,197
2,690
3,678
1,315
1,666
2,769
1,315
880
702
350
1,889
70
329
10
II12
66
310
11
1
3,051
U.26O
1
1
9
126
782
695
767
I2
32
35
217
331
517
11,310
3,911
3,237
621
2,613
51
35
13
3
656
37
329
19ll7-Jnl7
Au«ast
Septeaber
2,866
.
October. ...
loTeabar ...
Dacaaber ...
19118-JaniuUT
11,885
2,1*56
M
Actual figures froa Ilall/ Treasury Stateaent; estimates fr«B I9I9 Bodgat
docuaent. Including effect of proposed legislation.
^otnotes at end of Table
5>
172
585
March 1948
BUDGET RECEIPTS AND EXPENDITURES
,
Table 3.- Exi)endltures for National Defense and Related Activities
(la BlllionB of dollars)
PayiQente
TlBcal year
or month
fotal
Depart Dent
of the
Arwj
under
Armed
Foroee
LeaTe
Separtaent
of the
HaT7 2/
8/2/
I9U0
I9IH
igUs
19U3
igiw
75,297
89,720
19"^
90,501
I9»i6
United
Sorplua
property
dlspoeal
CoBBlaalon
a^nelee
States
i0t
667
3,678
MarltlM
fieeona t met 1 on
n
Other
nance
Corporation
12/
't9,2't2
891
2,313
8,580
20,888
26,558
99
51
929
2,776
3,812
Us, 870
50,337
27,800
30,oU7
15, 161
66lt
106
igu?
17,279
7,'»25
11,998
3,227
69U
271
1,501
Uita
19U8 (Istlmated)
ll.TUa
6,375
U,123
278
UU
200
3U0
9
I9U9 (Istlmated)
U,2lto
6,307
",155
5
229
1
lUo
UoU
981
910
1,008
U55
368
319
uo
us
571
30lt
55
-15
17
38
81
53
13
U9
'»33
3
1
1
l.ljU
936
996
6U7
357
350
35U
38
18
20
Ul
8
19
22
503
565
U9
28
18
1,069
679
330
lU
23
3
19
I,f57
6,655
W,070
igitT-Jui/
Ao^et
September
October
Vorember
December
.
.
.
.
.
.
.
19l({l-Jaimar7
•2,265
Actual flgores from Dally Treasury Statement; estimates from 19^9
document. Including effect of proposed le^slatlon.
Bad^t
UU
35^«
259
2,255
3,189
2,'*32
2,6s?
6,180
7,1*7
U72
32S
138
6,305
U,117
519
i»o
26
28
20
ftotnotes at end of Table 5>
Table 4.- Expenditures for International Finance and Aid
(la millions of dollars)
fiscal year
or month
I9U6
Total
727
U,U15
I9U7
Brstton
Vools
Agreements
iot
159
i,ic6
kportImport
Isnk
56s
93s
(Istlmated)
U,9l6
736
19U9 (Istlmated)
6,53U
500
691
619
68
I?
I9I18
igUT-July
Aognst
September.
October
HoTember
Sscember.
.
.
.
.
.
.
igUs-Jamaiy.....
Source:
lUl
150
21S
223
Credit
to
United
Kingdom
2,050
1,700
700
600
OreekTorklsh
assistance
Belief to
var
derastated
countriee
275
272
119
60
Ooremment
and relief
In occupied
countries
99813'
1,250
5
25
10
32
89
38
3
100
12
2
-5
38
'I
56
100
11
59
U7
61t
36
Actual figuree from Qally Treasury Statement; estimates from I9U9 Badget
document, inoludlng effect of proposed legislation.
Itootnotes at end of Tehle 5*
ftiropeaa
BecoTery
Program
Interim
aid
(Act of
I9U7)
Other
foreign
aid
500
375
60
u,ooo
165
Mo
..
.
Treasury Bulletin
BUTiOEl RECEIPTS AND
EXPENDITURES
Table 5.- "Other" Expenditures
(In
flteal 7«ar
or Bonth
sllUoni of
Soelal
Aid to
Total
dolliiri)
ac>'lcTiltnr*
eeurlty
frorrtm
11/
15/
19*0
i.ni
1^1
1,272
1,*02
59*
696
510
586
656
753
800
969
808
*[U3
ighs
19*3
19W
1,915
2,2*6
19*5
19*6
19*7
2.505
2,10«
5.5*5
PBt>lle
vorka
Direct
and vork
floancfl
r«ll«f
12/
16/
-17
3
673
535
*25
1,229
1,065
^5
320
373
710
-»3
Ronilnc
and hcMM
-201
-35*
-360
:^
183
1,573
1,37*
970
299
17
MlBCellaneoaa 18/
1.087
1,37*
612
88
668
705
1.3*0
2.357
19*8 (•tlaitod).
7,325
695
1,622
l,3«*
-28
3.652
19*9 (Iitlaatad).
8,8*8
1,038
1,509
1,878
-21
*,***
19*7-Jul7
Ancait
1,067
81*
6*1
86
612
80
52
96
160
-27
97
109
J|
-12
-8
*e8
515
*57
*15
*17
5?
10*
«3
ii
^^
U3
-2
58*
73
13H
S«ptflat>«r.
Octobar
IoTeab«r
Daceaber.
.
.
19*8-Jaaaar7
Sourcaj
.
.
.
Ictoal flgarmn fron Dallj- Traasory Statttnent; astlmatoB froa 19'49
Bod^et locBsant, Including affect of proposed legislation.
Xzolades aaotinta for public debt retlreaent which are chargeable
to the sinking fund, etc., vndar special prorlilons of lav.
Includes transfers to truat accounts and net expenditures of wholly
(SoTemaent
ovn.ad
corporations, xuider appropriate elasBiflcations.
£zpenditure classifications In these tables are baaed on
the Hellj Treaanry Statement, and therefore differ aosevhat froa
those in the 19^9 Budget document.
Representa appropriationa equal to 'Social aeourity
eaploTnent
taxes' collected and deposited ae prorided under Sec. 201 (a) of
the Social Securitj Act afflendments of 1939See also Table 7,
follovlog. figures were rsTlsed in the T^bru&ry 19^S issue of the
Treasur? Bulletin' to reflect the present claasificatlon of certain
expenditures relaborsed froa the Federal Old-Age and SorriTors
Insurance Trust Ttind.
Includes public works undertaken bgr the Teterana Adalniatratlon.
Tor further detail, see tables under 'Internal Eerenne Collections'.
Beceipts of Victory taxes withheld pursuant to the Sereoue Act of
19^^ are classified as 'Other' Incoae and profits taxes.
Excludes railroad uneaploynent insurance contributions, which are
included in 'All other receipts'.
At present consists largely of prooeeds from the sale of surplus
property; also includes deposits resulting from renegotiation on
war contracts (for detail see "Treasury Bulletin' for Tebmary 19^,
po^ 5), *^ reeoTerles of ti. S. inTostaent in capital funds (see
tables on 'Cash Income and Outgo' in the current issue of the
Treasury Bulletin").
Includes expenditures of the Department of the Air Toree, which ara
being made from Army appropriations pending transfer of funds pursuant to the Act of July 26, I9U7
Excludes payments under the Araed Tbrces Leave Act and expenditxxres
for UHBBA, shown elsewhere in this table, and expenditures for international finance and aid shown in Table U. Tigures for the
Departneot of the Amy exclude also axpenditures for surplus property
disposal and Office of Seleotire Serrlce Beoords, shown elsewhere
5«
10/
1^
—
1/
5/
2/
12/
13/
ik/
15/
16/
17/
18/
•
in
17*
287
in this table, and expenditures for river and harbor work and
flood control, which are included under "Public Vorka' in Table $•
Vational defense and related aotiTltles of BYC and Its affiliates.
After July 1, 19^7, expenditures for these purposes were not segregated from the other expenditures of the Corporation and its
sifflllatee, which are included under 'Other' expenditures in
Table 3.
Tot detail prior to July 1, I9U7, see "Treoaury Bulletin' for
Pabruaiy 19^, page 7- Current figures consist solely of Office
of Selective Service Becorda.
Includes expenditures from prior year appropriations which are not
shown separately In the Dally Treasury Statement but are included
under the Department of the Aray.
Department of Agrlcultxire expenditures except those for UHBRA,
surplus property disposal, other national defenae and related
activities prior to July 19^7, foreign aid and relief, and forest
roada and trails.
for more detail of these expenditures, see Tables 7, 8, and 9
following. Tax refunds shown there are excluded from expenditxires
in this table and included In Table 1 preceding aa refunds.
Consists of federal Vorks Agency expenditures except those for
eurplus property disposal, other national defense and related
activities prior to July 19^7, and assistance to Oreece and
Turkey; forest roads and trails; rivers and harbors and flood
control; Bureau of Beclaaation; and Tennessee Talley Authority.
Housing and Home finance Agency expenditures except those for
surplus property disposal, and for other national defense and
related activities prior to Jtily I9U7.
Hot classified separately for fiscal years after 19'*5'
'or
additional Information for earlier years, see 'Treasury Bulletin"
for August 19^*5. P*** 6Includes executive departments and legislative and .Judicial
functions; Government contributions to federal eaployees' retlrenent; atoalo energ7; aids to edxicatlon labor, finance, comierce
and industry; Civil Aeronautics; Post Office deficiency; stockpiling; and, for 19U8 and I9U9 estimates, a reserve for contingencies.
Uss than 1^00,000.
March 1948
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Suimnary by Months and Calendar Years
(la millions of dollare)
Calendar year
Jan.
Tet.
Mar.
Apr.
Her
June
July
Het budget receipts 1/
19UO.
19Ul.
191*2.
191A.
19115.
191*6.
191*7.
191*8.
5,^5
Au«.
Sept.
Oot.
Hot.
Sec.
Total
..
a
3
..-.
U
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(Ib llllsna of dollU'i)
Baoaipta
Ixoooo of
rooalpto, or
•zpoadltnrao (-)
fltokl 7«Br
or aonth
Orooo rooolptt
Social Security taxao
Total
2/
19lt2
-222.0
-3U9.3
-38U.5
igitj
-ids.
19'»"«
-3W».3
igiio
I9UI
Tadoral Unasployaont
Tax lot
(UnonployaoDt Iniuranea)
Fadaral laauraooa
Coatrlbutloaa let
(Old-a^ loauranea]
712.2
788.2
1.015.6
1,288.9
1,U72.0
60U.7
690.6
895.6
1,130.5
1,292.1
179-9
107.5
97.7
119-9
-306.7
-363.5
-573.3
lASit-S
1,3099
18'i.5
1,1*18.1
1,238.2
1,6W».3
l,'»59.5
179.9
18U.8
-M.5
lot
raoaipta
,130.5
,292.1
162.2
100.1
119.9
158.6
179.9
,309.9
,238.2
I8U.5
179.9
550.0
688.1
895.6
158.
19^
19W
19^7
Lait anounta oradltad
to Fadaral 01d-l««
asd SurTlTori Iniuraoco Trust fund 2^
uu.s
Soptoabtr
-70.1
-U9.5
^k.k
338.7
16.7
72.H
329.3
13-9
2.1
9-1
2.8
72. »
329.3
13.9
Octobor.
KoToaber
Boeeabor.
-70.0
-76.1
-56.0
66.2
320.3
15.6
65.6
310.5
.6
U.l
9-8
1.5
65.6
310.5
lU.l
9.8
1-5
ISUg -January..
-«8.7
U8.U
35.5
12.9
35.5
12.9
I9i»7-Jttlj
M(a>t
.
.
2.1
9.1*
2.8
.6
Izpandltarao
Oranta to Statsa
Childraa'i
Bureau 2/
Soolal 8«oarit7 IdmlnlttratloD
yiaoal jaar
or Booth
Total
AdBlalatratlTa
aipanaea
Total
Onaiiplo7-
Old-a«e
aaalatanoa
Aid to
dapandent
ehlldraa
Aid to
the
bllDd
15.1
63.2
69-1
67.3
57.0
6.2
7-1
8.0
8.5
10.3
58-3
63.0
70-3
55.1
36.3
ment ooapaaaatlon
adffllnla-
Publlo
Health
Serrloa
V
0.
S.
fcplpyMaternal
and child
health
aarrloaa
Serrioea
for
erlppled
ohl Idran
Child
welfare
errlea
ent
Sarrloa
6/
Bafundo
of
tazaa
t ration
38U.2
igito.
19111.
19112.
504. "t
19'»3-
527-2
52U.2
19lil».
19>i6.
191.3
513.5
19'>7.
758.12/
191*5.
19l»7-July
9O-6
25.
356.5
31.5
31-5
33.3
32.1
1»15.2
I69.6
191.1
188.0
227-6
26O-I
299.1
316.9
360.6
31.9
38.8
21.9
151.9
198-1
721.1
333.6
361.2
515.7
52.8
59.3
113.1
10.0
10.3
11.9
31.2
55.6
59.8
87.5
76
59.1
53.6
37.1
16.7
12.6
9.J
1.7
1.5
1.0
6.t
Jbcuot ..
Septeaber.
52.3
2.5
1.6
1.5
October.
Voreaber.
Ceceaber.
70.6
85-9
57.5
1.7
1.5
1-7
83
55
15 .7
56.6
I2.I
12.7
12.1
J.5
1:1
75.6
1.5
73.6
51.2
13.1
1.5
.
19'»8-JanUAi7
Soureai
X/
2/
.
.
79.61/
19
67
10.7
.2
5.1
6.3
10.7
u
3-8
1.5
^•?
1-6
1.6
1.1
3-8
1.2
7-5
1.1
1.3
2.0
1.0
3-8
1.1
.2
.1
2.6
3.5
2.8
1.2
7.1
6.2
(.1
.1
.1
.6
.6
.5
1.0
1.2
.1
.8
.k
1.1
.1
.3
.5
.5
:l
5.9
1.0
.5
.2
.5
^
•xpeneaa payable froa other anproprlatlona, principally for the
follovlttx a^ndea:
Barean of Internal Harenne of the Treapury
Departnent, and Publlo Health Senrlce and Office of BducRtlon of
the federal Security A^ncy.
Beginning July 1, IQU5, paynenta nreTloualy aade under the Social
Security Act were dl acontlnued and thereafter were -wide under
proTlalona of the Public Health Serrlce Act of lOWi.
Inoludea eitpandltnrea iinder Social Security Act by the Oevartnient
of I*bor thrwyrh July 31, lOUfi.
Clasiified a« "iTecutlve Office. Office for lowrrency Management,
War Manpower CoBnlaalon' throtuth July 11, 19U6.
Total includes aisonnts tranaferred to the IVderal Old-A^ and SorTiTora Insurance Trust Pund at followet Plseal y^ar IPU?. 1^75,000:
Auimst 19U7 $700,000.
Less than $50,000.
,
5/
6/
j/
*
20.7
1-3
1-9
i.e
5-7
10.0
.
3/
11.1*
10.7
10.9
1.8
5-5
?•'
6.5
6.2
.H
1.6
Ikllj Traaearr Stateaent.
Xxcaae of ezpendlturea la eorered }jj appropriation! bj Ooncro*'
Prior to Jazraary 1, 19^, fli^nrea reprege&t anounti tranaferrod to
Troa Jamiary 1 to Jnly 1, 19^ 'Tranathe Old-A«e fiaaenre Iceount
fera* vere tsade to the Tederal Old-A^ and darrlTora Inaurance ¥r«at
Vtand.
Sabaeqnentlj receipts have heoa depoalted In the Oener&l ISmd
of the Treaamrj and 'appropriated' dlrectlj to the Tederal Old-A^
and SurrlTora Inaurance Truat Vtuid.
Includoa onlj eipendlturea from approprlatlona nade epeclfleally for
adalnlttratlTs expenoee relstlnr to the Social Serarlty Act; nanely
Social Security Adnlnlatratlon, D«partBeQt of Comreroe, and Departent of Lahor; and adalnlatratlTp ezpenaea relmhuraed to the Oeneral
ftmd of the Treaaury tinder Section 301 (f) of the Social Security
Act, at aDended.
B«^Dnlnc *^u^ 1, 19^, Includes alno adnlnlatratlTe expeniea under the Vacner-Payaer Act. Kxcludee adDlnlatratlTo
9.1
10.8
March 1948
BUDGET RECEIPTS AND EXPENDITURES,
Table 8.- Railroad Retirement Act
-
Budget Receipts and Expenditures
(In mllllonB of dollars)
Becelpte
Iscal year
or no nth
igito
XXCOBB of
recelptB, or
flxpendltures (-)
1/
Expenditure
Taxes on
oarrlerB
and their
employees
AdsinlBtratlve
expe
Total
l.g
121.0
136.9
170.0
208.8
267.1
-26.3
-12.8
77.3
August
September,
-506.2
12.7
116.0
October.
November
December.
.
-52.8
8.2
125-7
8.6
126.2
.3
.
-55-9
2-5
58.it
igUs
-2.3
S.7
21.6
igits
-ll.lt
igiA
191*5
ig"*!
igW
ig't?
19l*7-Julj.
. .
.
igUS-January
Sourest
1/
2/
.
^rauBfers to
Eailroad B«tlrement loc(nuit
(trust account)
2.6
3.8
7.6
120.7
12U.U
1U0.9
220.2
265.3
5.'»
2llt.8
2-5
262.7
285-0
282.6
380.1
311.3
295 •>•
302.8
2-3
308.
2.
291.9
298.5
6.0
13.0
116.3
512.2
123.3
128.2
llt8.5
It
lt.3
Be funds
of
taxes
.2
1.1
511.6
•3
.3
It.
56.0
57
•
5
58.0
for administrative expenses relating to the B&llroad Setlrement Aot.
Less than $50,000.
Ibiljr Treasury Statement.
Excess of expenditures la covered by approprlationa by Oongress.
Includes only expenditures from appropriations made speoifioally
Table 9.- Railroad Unemployment Insurance Act^
-
Budget Receipts and Expenditures
(In millions of dollars)
Expenditures
BecelptB
riBcal year
or month
Sxoees of
receipts, or
expenditures (-)
2/
igito
-.1
igiti
19lt2
-It.l
2.1
2.1
-2.7
191*3
igitit
igits
.6
191*6
I9't7
-.2
•
5
Bailroad
tinemploTinent
Total
Insurance
contributions
y
U.g
6.8
8.5
10.3
12.1
5.0
10.9
6.U
8.2
lU.g
13.2
12.9
12.6
13.1
13-7
lit.
-10.1
igltT-July
10.1
August
September.
-.3
2.5
.2
.5
2-9
.5
October.
Hovember.
December.
•
.k
.It
-3
.1
M
2.8
3.5
7
.
.
.
.
.
igl+g_January.
Source:
1/
2/
3/
.
-3
Dally Treasury Statement.
Operated ae Bailroad Dnemployioent Inmirance Administration Fund.
Excess of expenditures le covered by approprlatione by Confess.
fiepreeenta 10^ of contributions under the Bailroad Unemployioent
Insurance Act; the remaining SOj^ is deposited In the Bailroad Unemployment Insurance Account, Unemployment Truat Fund (See
Table U under "Trust Accounts, Btc")
.3
U/
5/
*
Administrative expenses (B&llroad
Unemployment
Insurance Administrative Rind) U/
Transfers to
Railroad
Unemployment Insurance Account
Unemployment
Trust Fund 5/
5.0
7.5
2-5
2.2
3.2
3-7
1:1
.5
.5
.5
6.0
11.7
8.g
g.6
g.2
9-7
M
.k
.7
•
3
Includes only expenditures from appropriations made specifically for
adnlnlstratlTe expenses relating to the Bailroad Unemployment Insurance Act
Eepresents excess funds of the Bailroad Unemployment Insurance AdmlnlBtration I\ind (xmder Act of Oct. 10, I9U0)
Less than $50,000.
•
..
.
.
Treasury Bulletin
TRUST ACCOUNTS, ETC.,
Table 1.- Receipts and Expenditures by Major Classifications
(Id alllloni of doll&ri; nefotlT* flcurai Ar« ntl ezp«adltur«t}
Total
trnot
count
or Boath
c
• tc,
ut
UU3
908
-1,613
-338
-2,222
19»W
igiti
19»t2
19^3
19^6
19^
fkdaral Old-*(*
ud
latlonal Sorrlo* X>lfo
Xnonrance ^ad
SuTTlTon l&anranco
Truot A&Bd
l*t
Ixp«odltur«i
iMOlptI
3
58?
10
73''
fct
1
laoalpto
Xxpoadlturoo
i>6
i,a2
3lfi
1.589
11
905
3i
320
893
l,U3l»
l.llOlk
1,3<6
1,360
1,660
26
19
-11
2,127
2.351
i,50U
2,102
2.332
1.516
958
lot
•eoliito
Kcpondlturoi
95?
l.llH
957
1,118
l,2>t>>
-6
1,399
1,567
1,2'tJ
l.llOU
3
Bacalpti
»>t
-2
1
•
It
11
J>
967
1,218
1.395
lallroad Kctlro••Dt Acconnt
UnaBplOTBont
Ynist Vood
llfKBdltoro*
123
127
U•
lU
1.5*
U
-2.
221
273
iWt
217
275
1,508
1
1,21*8
3
323
308
322
800
1
-«69
1,820
1,867
707
707
l.Wt
1,312
l.UOS
32k
312
323
19U« (latlulod)
M
l,t>23
-2
798
(Istlutod)
-159
26
2,097
2,071
*7
9H
l,>t37
l.'»37
1
630
fi29
-129
206
-^35
71
2«7
-320
72
329
66
71
65
9
511
"•7
-12
>t3
39
2U2
5U
512
3
U9
2U5
2«3
19
66
310
52
-3
57
178
180
57
37
58
9
-2
uu
205
55
57
27
Ul
213
53
96
Ul
U8
"5
100
96
58
57
791
-52^
ISUj
-37
IS"*?
191)9
I9U7-JUIJ
iu^it
Soptocbtr.
.
Octobor
loTeabor
.
.
.
I3«oaab«r
.
.
.
I9U8-J .unary
132
U«2
55
U3
3t3
23
Othor truat •ecooota
-5
-11
-7
1
U6
-7
6
-1
^
Xncraffloat
flieal 7«er
or Bonth
on £Old,
let
Becelpta
Ixpandl-
not
'•3
Salgnloraga
on allTer,
nat
turea
-1
32
-23
1,508
1.280
1.289
Spaclal dapoait
account a and alacallanaoua fnnda.
Bat g/
1
•
Salaa and radaaptlona of
aeciirltles
of Oovernnent
corporatlona
ate.
in tha
net
marlcat
.
^
,
I9I1O
35
366
igui
19112
20
U6
"72
I9IA
92
129
9l»9
I9U5
I9U6
I9U7
620
-110
-302
1,693
2,135
1,505
1.072
(latlaated).
-95
I9U9 (latlnatad).
I9U7-JUIJ
iucuat
Saptaabar...
19>I8
October
BoTeabar
Caceabar
19l48-Janu«r7
Squrcal
^
^
.
.
.
.
.
.
Clrarlnc
account
68
-2
116
26U
503
288
852
-1,809
-69U
-2,87U
1,807
1,669
-BUT
-372
-1,553
-95
-359
555
1,763
1.858
-U27
105
-Uoo
-29
1,359
1.388
-525
369
k
61
91
87
3U5
lUO
83
-12
28U
U9
-51
U3
-lUo
85
63
-326
123
118
96
-27
56
-8
-1
H22
23
21U
-127
-80
203
26U
61
-69
61
222
I106
658
"J
^d
20
lU
567
820
2,2115
38
55
Actual flguraa froa BUljr Traaaury Stateaant; aatliaatei frOB I9U9
&id<et doouaent, inoludtnc affaet of propoaed laglalatlOB.
Includai OoTenucaot retlraaent fundi, etc.
See alio footnote ?.
Coaprlaee Public Vorki Addalitratlon rerolTlo^ f\ind, apeclal depoalti (nat). and, during the flticel y^ars I9U0 throu^ 19^5,
tranaactloDi In eomodlty food ntaapa by the S^partnent of i^rrlcul-
2Ug
7^
2
-1U6
-173
-121
tura. CoBnanclnit 3mJj 1, I9U5, aueh tranaactlona are claaalfled aa
"Other truit accounts".
Hot recelDti In lhl» coluam oonetltute net aalea. and net exDendlturea cocatltute net radanptlona of aaourltiaa.
Leas than $500,000.
March 1948
TRUST ACCOUNTS, ETC.
Table 2.- Federal Old-Age and Survivors Insurance Trust Fund'
(Oufflulatlve from
organization - In mlllloDs of dollare)
B«celpt6
Ind of flBcal
year or month
ApproprlatlODB tiy
InvestCongress
ments
Total
receipt 6
765.0
1,155.0
1,705.0
2,393.1
3,288.8
191114
782.7
1,199.6
1,792.1
2,536.2
3,502.8
'*,720J
6,116.0
191*5
7,5'»9-8
191*6
8,935.8
10,559-1
7,021.3
8,259.5
9.719.0
10,510.6
8U9.0
S61.0
921.8
1938
1939
19i»0
I9l»l
191*2
191*3
19^1
19U7-SoTeirber
December
igUg-January
.
Soxirce:
1/
g/
.
Total
eipend-
fere
from
General Itxires
Fund
17.7
fielmbursement
for admlnlstratlTe
expense 2/
Old-age
benefit
payment
5.t
19.3
35.1
5.1*
Ul(.6
19.3
87.1
1*7.5
11*3.1
211*.
138.6
275.6
1*19.
301.5
1*52.1*
99.5
209.8
359.1
5,711.'*
UOit.7
669.6
51*3.7
528.5
676.3
839.7
936.1*
783.5
I*,
11.360.7
11.3B6.8
10. 521*.
11,1*83.0
10,560.2
Balance
Xxpendltures
TranS'
1.1
1.1
1.1
Unexpended balance
Salaries,
Bureau of
Old-age and
SuTTivors
Insurance
Total
^
777-2
1,180.3
l,7l*l*.7
12.3
39.1
65.9
2,397.6
,227.2
93.1*
,268.3
126.0
152.9
5,W*6.U
6,613.1*
,29'*.'*
,101*.
190.11
,760.7
.529.6
206.0
25.2
1,980.5
2,026.
2,06B.1
1.730.6
211.2
212.2
213.3
1*2.0
9,380.3
9,360.1
1*1*.
9,1*15.0
1,772.1*
1,810.2
Daily Treasury Statement.
Includes transactions under the predecessor Old-Age Reserve Account.
Under Section 201 It) of the Social Security Act toendmente of 1939-
3/
Investment B
38.7
7, 61*1.
8,798.1*
In disbursing
officer'
account
General
I^md
113.0
662.3
1,177-2
1,738.1
2,380.6
3,201.6
1.9
3.0
.1
1»,236.8
5,1*08.9
6,51*6.3
7,51*8.7
8,71*2.3
9,13i*.l»
9,268.5
9,268.5
.5
6.1
6.2
5-2
7.0
16.1
32.0
S3.5
7.3
10.8
82.6
17.9
68.2
163-3
73.8
78.3
20.1)
2U.5
21.
35.1
1*9.2
1*8.8
Under provisions of the Labor-Federal Security Appropriation Act,
I9U7. these salaries are payable directly from the Federal Old-Age
and Survivors Insurance Trust IVind.
Table 3.- Railroad Retirement Account
(Oiunilatlve from organization - In millions of dollars)
Becelpts
Snd of fiscal
year or month
Expenditures
Salenoe
Unexpended balance
Total
recelpta
Appropriations
toy
Interest on
Investaants
Gon^ess
Benefit
Investments
Total
psonnenti
In General
In disbursing
officer's accouit
Aind
lU7.q
S68.U
390.8
506.9
650.9
871.5
1938
1939
191K)
Wi*!
19^3
191*3.
I9IW
19^5
19US
l,lUl*.l
l,l»68.1
1,780.1
2,102.6
191*7
2,788.2
2,788.5
2,788.8
19l*7-JIoveiiiber
December
igUS-Jmraary
Source:
l.U
3.6
11*6.5
S6U.8
38U.9
tas.s
639-5
85U.2
1,116.9
11.6
17-3
27.2
1,1*25-7
1*2.
1,717-8
2,016.1
62.3
86.5
n
2,701.1
2,701.1
2,701.1
79.8
I85.6
298.7
68.1
82.7
92.1
66.2
67.2
79. U
1*19.9
87
lOU.g
19U.9
333-0
515.6
675 -7
82U-9
91.5
178.0
318.5
500.5
657.0
805.5
5U6.1
676.6
811.0
952.5
l.loU.U
1,277-7
87 1
1.6
2.3
1.8
10.5
11.7
12.8
IVl.
.2
13.2
10.8
^•1
1.6
U.l
1.1
71*.
.5
W.7
.9
17.8
18.2
1.2
1,1*21.1*
1,281*.
117.3
87.1*
1,366.8
1.385.9
1.1*0 2.6
87.7
l,38l*.l
1,265.0
1,303.0
117.1*
l,l*0it.7
19.6
20.2
21.7
59.1*
Dally Treasury Statemsnt
Table 4.- Unemployment Trust Fund
(Cumulative from organization - In millions of dollGU*s}
Becelpts
Xnd of fiscal
year or month
Total
recelpta
State
unemployment insurance
activities
Deposlta
by
States
1938
1939
1,076
191*0
2,857
1,911*.
19U1
-
3,971,
5,215
6,6iS
8,180
9,688
10,968
191*2
19^*3
igWt
19U5
191*6
12, 257.
19^7
19U7-November.
December.
igltS-January
..
.
12,81*9.1
12,902.1
13,001.6
1,058.2
1,869.5
2,729-3
3,621 -U
fiallroad
Transfers
ment
from
Insurance
States
contrlbu2/
tlona 2/
xmemploy-
'*,717.3
105.6
181.9
5,935-0
271*.
7, 281*.
8,51*0.3
383-7
502.5
618.7
7U6.3
1.8
105.9
105.9
105.9
105.9
106.3
106.7
107.2
778.6
8O9.9
810.0
107.2
107.2
107.2
9,550.3
10,555-5
11,100.7
11,117.1
11,11*4.7
Expenditures
1*4.2
Transfers
Interest
from Hallroad tJnemInvestploTment
ments
Insurance
Adminl at rati on Vhud k/
11.
17.1*
18.0
UU.g
82.6
131-5
198.9
281.
377-9
29.1
38.0
57-6
56.9
501.5
6U5.1
792.0
66.5
66.5
66.5
796.1
801.5
873-3
Dally Treasury Statement.
Kxcludes advance of $15 million from the Treasury and subsequent
repayment, both taking place In the fiscal year 19^0.
s/ Hepresents 90i^ o^ contributions under the Ballroad Unemployment Insurance Act; the remaining 103& is used for administrative expenses,
(See Table 9 under "Budget Becelpts and Ixpendl tures".
Hepresents ajnounte transferred from States to Railroad Unemployment
Source:
1/
y
Balance
State unemployment Insurance
actlvltlea
Aallroad Unemployment
Insurance Account 1/
Total
Withexpend- drawals
itures by
States
fiallroad
Transfers
to Hallroad Unenployment
Insurance
Account
^
192.0
633-8
1,133-1
l,6gg.2
2,065.1*
2,21*1.5
2,302.1
2,373-"*
3,519-3
U, 388.8
192.0
633-8
1,116.7
1,550.0
1,918.0
2,092.1*
2,152.1*
2,222.5
3,350.8
i*,i6g.i
727.1
1*, 778.0
1*,
1*85.
1*,
530.8
U, 81*3.
l*,590.l»
It,
Unexpended
balance
Unemployment Insurance
Account
ments
Benefit
payments
88U
1,280
1.8
105.9
105.9
105.9
105.9
106.3
106.7
107.2
107.2
107.2
107.2
«,372
5,878
7,315
872.0
1,267.0
1,710.0
2,273.0
3,139-0
it, 367.0
5,870.0
7.307.2
7,1*1*9.
7,1*09.0
7,869.
7,852.0
lU.6
1,72"*
in
2,283
3,150
1*3.2
1*3.8
i*<«.6
61.8
113.5
In dis-
Invest-
u
13>'.U
,122.0
lUo.o
,121*.
11*5-9
,158.1
8,098.3
8,102.5
8,132-5
General
Pond
(Special
Deposit
Account
bursing
officer'
8
account
5/
12.2
13-5
13. >»
1.1*
8.0
7.8
2.7
3-3
1-5
1*.0
8.5
7.8
31.7
11.8
17-1*
15.0
17-8
3
s-.l
5-3
6.3
6.7
7.8
Ineurance Account e^lvalent to amounts of taxes collected, with
resoect to period from January 193^ to "June 1939, Inclusive, from
employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
Represents excess funds of the Railroad Unemployment Insurance Administration ^nd (under Act of Oct. 10. I9U0).
For railroad unemployment benelfts and refunds.
....
,
10
Treasurif Bulletin
TREASURY CASH INCOME AND OUTGO,
accompanying note.
Actual figures in these tables are
the Dally Treasury Statement.
Estimates are
based on the 19**'9 Budget document, Including effect of
The present eerlea of flata on Treasury cash Income
and outgo vae flret published In the September I9U7 isThe nature of the
sue of the
"Treasury Bulletin'.
ohanges
from
the preceding
based on
was explained in an
series
proposed legislation.
Table 1.- Suminary of Cash Transactions
(Ib olllloiii of dollttri)
Cash operating locoaa
ItCal J99X
or aosth
7,S60
12,7H9
19*1
igua
19^3
19UU
1^5
19W
19^7
19l>8
Oaah
badcet
receipt!
(litlaated)
S,U1
W»,oiie
W,3a
'»,7a
U2,gl>g
'1,937
1»?,9J0
3,707 r
'»»t,539
3,T12
ll.OOg
r
2,515
Saptaaber.
''.507
S0>>
October
VoTeaber
2,380
2,703
.
.
19'l8-JaiiDar7
^
fhe
'',219
e:q>eBd-
iturei
'»7,9«»
*>i«a«t
I)»ii*ab.r..
Cash operating outgo
Cash
bid«et
IS, I'M r
33,517 P
Oaeh trrxit Ixehaaee
aeaount
St abl Ilexpendlation
Ituroe
^nd 1/
5U6
-l«9
'•,195
5l.<*l
U7,78U
Cl«arln<
aoeoQBt for
ontatandlns
ohecln. etc.
-768 p
96, 75"* r
'•,316
1*6.637
61,367 r
36,237 r
3,270
,026
-555
IW,251
36,251
3.09'*
77'»
1«»
i»«,330
37,725
3,539
261
205
279
30
1U6
9U
la
11)8
-2llt
86
127
80
2,561»
2,95'* r
3,193
»,711
2,753
2,630
2U8
96
u.ojo
2,Ua9 r
2,225
3,196 r
as
27
'•,5'»2
2,578
189
12
a
173
8. en^Bcslption to the capital of the Interaatlonal Monetary
vae paid In part froa the Izchan^ Stabilization ^ind. Tor
borrovlnx
(-)
Omi.ral
Ixchan^
StaMll-
balance
latloB
Ttod If
5,'»32
7»>2
9l>,079
6,515
10,662
95,986
65,6«3 p
39,978 p
19,652
60,250
56,757
U9,U7U
-17.899
6,659
-19,389
.lo,U6o
-10,930
Ho, 519
7,732
-8,505
-772
Ul,2e»
-'>>, 9>>5
7.1»39
'',529
7,066
-7,117
-51
3,390 p
3,15?
3.959
-827
Ul
753
587
291
-201
-239
332
552
2,612
2,533
3,520 r
18
816
510
136
-987
-1,3'«8
155
-172
-838
1,9«6
-''35
1,551
2,556
explanation of the traneactlon, see
Septenber igU?, pa«e 17.
Berlsed.
17.
^Dd
or
repsyiDent
of
-J»,6gq
78,979
P
111 p
Vet cash
operating
Income,
or
ontco (-)
-19,29«
-53,735
-is, 095
ii»,o6o
3't,585
I185
p
93,968 r
3,3W
fetal
1,702 T
1,068 p
7«,»9'ii
215 r
678
2,31*9
Total
9,371
i5,a?i
2,5*B
3,037
3,936
I9U9 (letlaatad)
I9U7-JUI7
Caeh traat
aooooat
reoelpte
Inor.ase, or
decrease (-)
Treaeury oaah
V«t oaeh
horrowl n«,
Oaah operations other than horrovlnc
Treasmy
-1.800
Bolletln" for
Table 2.- Comparieon of Total Net Budget Receipts with Caeh Budget Receipts
(In Billions of dollars)
Lassi
Total
Asoal year
^d^t
OP Bonth
receipts
(net)
PsTuents to Traasnry by OoTemment eorporatlone
Interest
total
H.
19*1
191*2
i^::::::::::::
7, 607
12, 799
22, 282
uu, IU9
3U7
50
7U
101
1*6, '•57
i?l2;:::::;:::::
'•3,
19>>7
''3,
038
259
loacaah bod^t receipts
».
C.
Ul
ether
Capital stock
and paid-in
enrplns
laming
Reloboraement for
ad-Tilnl stratlTe
expenses - Tederal
Old-Ag* and SurTlTors laeurance
Traet ^md
27
27
27
33
319
18
10
1
5
2ll
5i
13
13
136
190
329
83
26
90
91
27
13
18
136
72
17
Sqaals:
Cash
bnd«et
receipts
7,2fi0
12,7U9
22,208
Wl.OlMS
?7
37
16
i<fi,3a
U2,8U8
1>2,P30
19)»8
(Isttaated)
'5,
ao
672
97
30
291*
239
12
>'l'.539
I9I19
(Isttaated)
Wt, 177
155
2
33
38
70
12
Wl.322
U«
22
36U
"3
U
20
2,515
1U7
a6
••,507
19U7-Jnly
2,
In^st
S,
IV^
Sept saber.
1»,
872
October.
.
.
2,
11
oreaber
.
.
2
Ho
Baeeaber
.
.
U 2i6
27
l«,275
80
19>»8-Jannai7
Lass than t;00,000.
2,3''9
9
U£
2,380
2,703
30
10
9
7
ii,a9
13
15
••,195
11
March 1948
TREASURY CASH INCOME AND OUTaO
Table 3.- Comparison of Total Budget Expenditures with Cash Budget Expenditures
(In
sllUcne of dollare)
r
.
r
Treasury Bulletin
12
TREASURY CA3H INCOME AND OUTGO,
Table 5.- Comparison of Changes In Federal Securities Outstanding
with Cash Borrowing or Repayment of Borrowing
(In
ImoT—Mt or dooroft
In hd«r«I •oorlt
!«•:
at
outotaodiBC
Total
Vbd«ral
tMd
ntiM
I9IH
«Ul
-i,goe
19**2
l9»^3
19W
6,835
inMd
Bj trust •moeDt
•eeonntt eorporatloBt
rltlsi
1,U22
2, 006
63] 806
VWl
8».307
-8, "IT?
61,830
5,883
57.679
-'%
56, '«9
6,738
10,783
3, ''09
d«M
triniactloB«
foroM
1««T6
sacrlnc*
Adjusted
serrlcs
%onds
Votes for
Intsroatlonal
Mils
refund
bonds
Bazkk and
^md g/
ajranel aa
U/
ao counts
I3H
-108
-86
-8
2,lU0
89^
-970
-39
'•67
28
7, '39
-19,389
-1,172
-l,2l6
-12
505
•127
-8,505
-195
-500
-6
5>io
375
-7,117
-30
-121
-9U
-1
-2
-2
6£
1*6
-2
-2
51
77
587
291
-201
21
61
-7
136
-987
31
-1,3118
62
66
-^35
-a
3,2*3
-6
-7,'W8
J».706
l.ZSH
-*,700
2,785
3,023
-76
l.lfiX
-10
-1
l4lt3
53
-39
s
-953
-3
-956
562
356
-678
-88
-guo
...
-7'*
-66
-853
-i,3ao
-207
127
59
-16
292
1U3
k
-116
-71
-72
-ii»g
-«59
-1,312
s
6
37
...
-136
-77
-1
-1
-1
-331
170
89
78
-l»7
-12
-1
-386
borrowlu^
32>t
-7,3«6
19lt8-JaBiaz7
of
aecurltles
of 'edaral
58
I9U0 (Bitlaaied)
s
or
reT>a7ineBt
81
130
213
I9H9 (Bstlaatad)
Octoberloreabar
Deoaabar
ftUKranteed
-12
-7
-9
7,892
.
borrovliyfi
la
of BOB-
^ -20
11,523
Jta^st
Sept saber
Cash
39
5
203
206
-387
19»»7-Jul7
Trauurer*!
y
Bqnalai
Caah
Ivai
1,338
1,925
3,006
»,128
-U,136
ig**?
10,71(0
laterast
OB
aetlona la
l^araataad
aamxrltlas
Sxoess bonds and
not raprofits Treasuty fl
acted la
1/
5,200
3,668
3,362
ilS:::::;;:::::
Vat traaa-
iflmirltlvt
rsfultlnc frea >adc«t ezpandltTir6«
Total
•aoo-
loBcaah
Itnaaea of Yadaral
lirr«ita«ntfl
iB Vbdvral
•eurltlfli
flao«l 7«ftr
or Booth
Aim
llllsBS of dollari)
C-).
U31
296
159
178
1,793
1
ItffOAacai of feder&l Securltieo reiultlo^ froa bod^t ezp«Ddltiir«a
aro troAted a« nonoaah at the tiae of Issu&noo and as caah bud^t
oxpendltoroa at the tlae of redesptlon. The flgurai ahovn are net
iaauancaa, or net redeaptlona (-).
Sea footnote 1 to Tahle 1, preceding.
^
k/
•
8
7
131
207
19
5, ''32
•
19,652
60,250
56,757
-95
-190
U9,U7l»
86
203
-5
Aocroed dlsoonnt on eaTln^ bonds and Mlla less interest paid on
savings bonds and bills redeeaed.
Xnolndes borrovlng throng Postal Ssrln^s Systeo.
Lees than $^00,000.
Table 6.- Summary of Cash Operating Income and Outgo by Months
(la allllona of dollars)
Annual total
Calendar jrear
Jnly
feb.
Mar.
ipr.
Msgr
1,*82
3,112
*,375
*,255
5,127
5,297
6,67?
7,1*6
5,929
5,9*6
1,65*
3,335
3,198
2,912
2,819
2,076
3,663
3,883
3,*70
*,665
6,360
6,132
3,3l5r
5,295
6,503
7,5**
7,781
5,605
2,783
2,556
e,*02
8,017
7,218
3,887
3,667
7,62*
8,568
8,929
*,156
3.322
7.*3g
7,693
7,799
7,397
8,o6g
*,1W
*,358
3,65*
3,350r
7,990
8,506
8.9*5
5,08Si
5,193
-5,601
-4,622
-*,005
-1,636
1,106
1,986
-*,920
-*,905
-2,8*3
-2,327
-1,889
-1,785
1,773
2.63*
-5,78*
-6,358
Jan.
Sept.
Oct.
OT.
See.
2,786
5,859
5,580
6,371
Calendar
/ear
Fiscal
7««r ?/
Cash oparatln^
opai
Ineoae
I9UI
19>t2
19*7
902
2,922
3,776
3,969
3,889
191(8
U,5l(2
19*3
19*5
I9it6
*,707r
878
2,176
2,368
2,987
2,697
2,56*r
2,996r
3,193
5,052
7,023
7,290
7.973
5.512
7,7*7
8.197
7.829
3,110r
3.390r
2.953r
3,152
1,036
3,379
3.289
3,688
2,602
5.569
6,076
5,553
6,682
752
2,220
2,281
2,881
2,793r
*.711»
2,630r
1,11*
2,712
2,9*1
3,062
2.869
3,3*8r
5,970
7,700
7,7*5
6.603
3,0*1
3,959
6,185
7,632
7.955
5,985
2,956r
2,612
5,928
7,773
7.*37
*,786
2.325
2,533
6,975
7.830
8.220
5.267
*.gl*
061
-*.189
-1,971
-2,6*0
-896
578
510
l(,206r
*,030r
U
51,050
65,U85r
*6,867r
Caah oparatlnc outgo
lU,o6o
191(1.
19U2.
1913 •
19*.
19*519*6.
191*7.
19118.
at
8,1(69
3,628r
3.520r
3*. 585
89,059
95.220
87. 5«*
*5.2*9r
1(1. 136 r
78.979
9*. 079
95.986
65. 683
39. 978
oaah operating laooaa
or outgo (-)
19UI.
19>I2.
19*5.
191)6
19*7.
19*8.
^
^
1,^
-i»,60l
-1,23*
-835
Data not filled In are In prooaaa of preparation.
Tlsoal /ear eallnc •'une 30 of 7«ar indloated.
-5,321
-6,385
-*,586
-888
-35
-3,325
-2,11(6
-2,813
-379
102
*,17*
*,8*7
*.922
-827
-*.*76
-*,368
-*,90e
-U.lUl
*3
1(1
-3,368
-2,131
-1 671
-1,050
1,661
753
,
-5,*33
-5,1(12
-5.67*
-3,10*
-161
18
:l
1(96
1.7*
5>(b
8 16
-51.068
-6«.6l6
-36,53*
236
5.733
-53 [735
-66,095
-**,965
-17.899
6,659
March 1948
13
GENERAL FUND OF THE TFUEA3URY,
Table 1.- Status of the General Fund
(In nillions of dollare)
Ind of fiscal
year or month
Treasury Bulletin
lu
DEBT 0UT3TANDIN0.
Table 1.- Summary of Federal Securities Outstanding
(Is
Ind of
ftioal
year or
ODth
allllau »t dollar*)
March 1948
15
DEBT OUTSTANDING
Table 3.- Interest-Bear In? Securities Guaranteed by the United States Government^
(in millions of dollars)
Marketable
End of fl seal
year or month
Total
Total
Commodity
Credit
Corporation
Federal
Farm
Mortgage
Corporatl on
1*07
1,269
1,269
930
930
Federal
Housing
Administration
I9U0
I9UI
I9U2
6,360
6,360
lt,5U9
l*,5l*9
19'»3
It,
ISUH
092
1,516
3,908
1,190
igits
1*09
3"
3"*
igW
"67
83
38
t3
38
5,1*98
19^7
191*7- July
August
September
.
.
October.
KoTember
December.
.
19l*S-January.
696
701
1*12
1*12
Nonmarketable
Home
Owners'
loan
Corporation
Public
Housing
Adjninlst rat Ion
8
2,603
UU
17
21
23
2,1*09
226
1,563
1,533
755
111*
21*
Hi*
Eeconstructlon
Finance
Corporation
1,096
1,7'H
1,219
«96
Total
Commodity
Credit
Corporation 2/
183
326
375
150
375
1*2U
1*5
7t
73
3"*
3"*
1*0
3"
70
Si*
3t
3t
36
36
78
33
33
33
33
33
33
1*5
"5
76
72
uo
I]
I]
1*1*
1*1*
Source:
Daily Treasury Statement.
Footnotes at end of Table 1*.
Table 4.- Special Issues to United States Government Agencies and Trust Funds
Reconstruction Finance
Corporation 8/
115
176
)
.....
.
Treasury Bulletin
16
DEBT OUTSTANDING.
Table 5«- Computed Interest Charge and Computed Interest Rate on Federal Securities
Pgbllc dabt
Ind of flflcal
/••r or •oDth
md
goarantead fcnrltlrt
Covpattd
Xnt«r«ft-b«ijrlnc
debt ontitaodlBg
Mumal
Inttratt
oharg*
(MllUoai of dollars)
I9U0
19*H
CoBputtd
uunial rat*
of Intaratt
Pqbllo dabt 1/
Coapattd
I nt ar« • t -b« arl a<
dabt outitandlng
tat*r««t
oharc*
(KllUona of lollart)
(P*ro«nt
2.51'*
1*2,376
76,517
139 >72
2.U3g
2.260
1.978
U8.387
71,968
135,380
3.869
U,969
5,357
5,376
1.925
1.935
1.995
2.107
199,51*3
,81*9
ilSi::::::::::
19^7
201,059
256,766
268,578
255,197
256,357
268,111
255,113
,96l»
k,s6
5,351
igkT-July
iufoat
S«pt«ab«r
256,395
257,183
256,177
5,UsU
5,USU
5,UU9
2.115
2.125
2.127
256,321
257.110
256,107
256, 3Ug
255, 67U
25'»,281
5,1*56
5,'*62
2.129
2.116
2.136
5,1*51*
5. 1*51
J.lUlt
256,270
255.591
25U,205
25'*, 030
5,1*72
2.151*
253.958
19>»3
19W*
.
.
October.
loraabar
Etooeab«r
Source:
1/
Ikll7 Treuurj
TreaeUT7 bllla
aaountybut for
charge and the
Coapated
Xataratt-boarlnf
dabt oatstaadlag
(Pcrout)
1,203
1.335
1,729
2,759
IS^
Ogarantaod aottrltlai 2/
Cospatad
nwwi rate
of iDtarait
latarait
aharca
(Mlllloni of lollart)
2.5«3
2.51*
2.285
1-979
CoapQtod
anrnial rata
of lataratt
(Ptrosat)
109
117
1.978
1*,092
85
81
1.861
1.968
1.516
20
1109
5
5.37»*
1.929
1.936
1.996
2.107
1.335
1.321
l.UlO
1.758
5,1*22
2.U£
71*
5.W3
2.125
2.128
73
1.767
1.776
70
1.81>*
1,095
1,21?
l.6i*£
2,679
S.UlW
5,1*98
6,360
U,5U9
W7
83
71
5,i»i*9
2.129
2.137
?.lUU
5,1*71
2.155
72
5.1*60
1.831*
1.761*
1.76?
*l
76
1.851*
1.81*1*
^r
Btsteaent.
are Included In intaraat-be&rln^ debt flg:urea at faoe
purpoeee of calculating the coapated annual Intereet
coapruted rate of iatereet, the discount Vf^ue Is used.
the purposes of conputln^ the animal Interest char^ and rate of
Interest on United States savli^fl bonds, Series A-Z are considered
x^eld 2.909^ per annua and Series f is considered to yield 2.53^.
Xxelndes guaranteed securities held I7 the Treasuir.
to
Table 6.- Treasury Holdings of Securities Issued by Corporations and Certain Other
Business-Type Activities of the United States Government-^
(In Billions of dollars)
of flecal
Cd
ar or aonth
I9U0
Comiodlty
Credit
Corporation
Total
lOU
302
4,079
7.535
191*1
191*2
191*3
I9iii»
19»*6
10.717
12,169
11,673
191*7
11,91*6
191*5
Siportlapert
Bank of
Vashln^on
25
263
1.950
900
1.591
1,301
510
516
516
516
51*0
October
VoTeaber
Deceaber.
11,761 g/
1*80
11.871*
ll.gUo s/
516
512
693
728
19lt8-Jannai7..
11,791 1/
1*35
730
^
537
i/
IWI7 Tre&anzy Statement.
Tha eourltiea ebovn la this table were Iteued to the Treasur/
to finance OoTemaeDt oorporatlone and certain other buelnatetjrpe activities of the OoTernnent
irlth the Treasurr Itsalf
railing the neeeBsary funds throu^ public debt operatlone.
,
Baconstruction
finance
Corporation
Airal
Electrification
Idalnlstratlon
53
53
53
53
551
283
580
398
383
360
366
108
13
21
.010
737
529
19
16
12
511*
3t7
1*99
1*86
31*7
7
1*71
31*7
2
1*58
1*33
2/
2,531*
212
31*7
Tennessee
Valley
Authority
52
57
57
57
7
20
61*1
Source:
Pnbllc
Bousing
idainistration
20
Ug7
.
Home Otmers
Loan
Corporation
1)40
U.9i*«
11.917
11.823 S/
.
federal
farn
Mortgage
Corporation
>I00
19U7-July
telnet
Septeaber
.
farmers'
Hone
idainlst rat ion
5,033
8,1*16
57
57
9,020
9,205
9,966
51
56
9,958
9.277
9.296
511
5U6
31*7
9.169
9.158
9.161
590
590
5f
56
56
31*7
9.186
603
56
31*7
31*7
5f
56
56
51*6
To aTold duplication, these securities are not Included In the
guaranteed debt outstanding as shown In preceding tables.
Total includes notes Issued by the Virgin Islands Conpaay In tha
anount of l?30,000.
March 1948
17
STATUTORY DEBT LIMITATION
Section 21 of the Seoond Liberty Bond Act, as
amended, provides that the face amount of obligations
Issued under authority of that Act, and the face amount
of obligations guaranteed as to principal and Interest
by the United States (exoept guaranteed obligations
held by the Secretary of the Treasury)
shall not ex-
ceed
in
the
aggregate «275 billion outstanding at any
Obligations issued on a discount basis, and
subject to redemption prior to maturity at the option
of the owner,
are Included In the statutory debt limitation at current redemption values.
one time.
,
Table 1.- Status under Limitation, January 31, 1948
(In alllloae of dollara)
MaxlDUB amount of Goourltles which may be outstanding at any one time, under llmltatlone Imposed by Section 21
of the Second Liberty Bond Act, as amended
275,000
Amount of securities outstanding subject to such statutory debt limitation:
S.
U.
Oovernment securities Issued under the Second Liberty Bond Act, as amended
255,725
Ouarantaed securities 2/
77
Total amount of securities outstanding subject to statutory debt limitation
Balance
1
floureat
1/
255,802
ssuable under such authority
19,198
,
Public Debt Serrlca.
Ixcludei guaranteed securities held by th« Traaauiy.
^
Table 2.- Application to Public Debt and Guaranteed
Securities Outstanding January 31, 1948
(In millions of dollars)
Public debt and guaranteed obligations outstanding
Subject to
statutory debt
limitation
Public debt and guaranteed obligations outstanding:
Public debt:
Interest-bearing securities:
Marketable issues:
Treasury bills
Certificates of indebtedness
Treasury notes
Treasury bonds - bank restricted ^...
Treasury bonds - bank eligible
Postal savings and Panama Canal bonds.
lU,g3g
20,677
11,375
lU,g3g
20,677
11.375
U9,636
68,226
68,226
Total marketable issues.
l6U,753
Non-«arketable Issues:
U. S. savings bonds (current redemption value).
Treasury eavings notes
Qepoei tary bonds
Armed forces leave bonds
Treasnry bonds, investment series
Total non-marketable issues
Special Issues to Oovemment agencies and trust funds.
16U
l61t
161I
16U,917
52, '179
52, ''79
5, "103
5, '•03
321
720
970
321
59.893
59,893
720
970
g9,lU8
Total interest-bearing securities
253,
Matured securities on vAlch interest has ceased
79"*
J2L
Obligations bearing no interest:
I%ilted States savings stamps
Sxcess profits tax refund bonds
Special notes of the United States:
International Monetary Rind Series
International Bank for Beconstructlon and OBTelopment series
%lted States notes (less gold reserve)
Deposits for retirement of national bank and Federal Beserve Bank notes.
Other obligations bearing no Interest
29,i';g
16U
253,958
5
3tl
62
11
62
1,306
216
191
1,306
216
191
it«3
'183
11
6
Total obligations bearing no Interest.
Total public debt.
255. 7g5
Sits
5_
5_
77
77
Total public debt and guaranteed securities outstanding.
255,802
Public Debt Service.
Issues which commercial banks may not acquire prior to a specified
2/
256.57't
72
72
Total guaranteed securities
6
2.275
1,595
Quaranteed securities Z/:
Interest-bearing securities.
Matured debt
Source:
1/
Sot covered by
statutory debt
limitation
8U9
256,651
date (with minor exceptions). See footnotes to Table 2 under
"Debt Outstanding".
Excludes guaranteed securities held by the Treasury.
Treasury Bulletin
1«
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Oovernment
and Outstanding January 31, 1948^
(la Blllloni of doUari)
Aaount of Baturltloi
DaicrlptloD of ••ou'lty ZJ
mnA
ODtb
riMd
fttUrltr
loouoi
Data
bank raCallable ItcusB •trlctad
clkOBlfivd by
iBtuat
yoar of:
baooaa
bank
riaal
rirat
eaU
19>W
7/g*
Bllli
Certificate -
7/8*
Zf
Bllli
Certificate - 3/lA«-C
Send - 3A5/lt«-50
tkt>..
Nar..
a/lA«-S
Z-jM Bond- 3A5A8-5I
Sine
JifT..
T/St
Certificate -
7/g»
1-3A>
Certificate - 6/1/148-1
Bond- 6/15/U8
7/8#
7/8*
7/8^
Certificate Certificate Certificate -
2-1/2*
l-l/a*
Bond-
9/15A8
lete -
9/15/Ug-*
Oat..
I*
1»
1*
Hote - 10/1/1«8-B
Certificate - 10/1/U«-J
Certificate - lO/1/kS-l
Bee..
2*
Bond - 12/l5/Ug-50
Jnne.
July.
Sept.
total
19U9
1950
Mar..
Sept.,
Dec,
l»/l/U«-D
1/lM-f
^/l/kS-a
7/l/U«-H
•llfina
rtty
J/
AaouBt of aaturitlai
Taar
and
oath
DoacrlptloQ of •curlty ZJ
rtiad
aturltj
lituai
Date
bank reCallable Uiaetj,„ij,.j
elaailfled br
,,,„,
rear of;
]b.eoae
riret
oall
riaal
maturity
bank
all(lble
i/
March 1948
19
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding January 31, 1948 ^-(Continued)
(In alllloni of dollari)
Aoonnt of aaturltlot
Y«ar
and
Bonth
Description of ecurltj 2J
fixed
aatuplty
laiuee
Date
bank reCallable leauee stricted
elaeslfled by
lasiiee
year of
beooae
Tint
oall
rinal
atuPltjr
bank
eltflble
iaount of maturities
Year
and
Deecrlptlon of security 2/
onth
2/
Date
bank reCallable Issues stricted
Issues
rized classified by
become
ata- year of:
bank
ri ty
rinal
eligible
Issues rirst
aatucall
2/
rlty
196U
1956
Mar..
2-l/2)J Bond -
June.
Z-im
Bond
Sept.
2-3/"»!t
Bond
1,IH49
3/15/5M*.
- S/15/5l*-56.
-
2-1/m Bond
681
6,253
681
2-1/2)1 Bond - 3/15/56-58..
2-3/li)l
3,761
V15/53
2-l/2)f Bond - 12/15/61t-69.
3.838
9/15/53
Total
7.600
1965
1958
June.
2-l/2)t Bond - 6/15/6U-69..
Dec.
982
3.823
9/15/56-59.
- 9/15/56-59.
Mar..
June.
Har.
2-1/2)1 Bond - 3/15/65-70..
Deo.
2-3/lt)t
Bond
-
l,Ug5
l,l»lt9
5.197
Bond
-
2/1/5U
5.197
12/15/60-65.
6/15/58-63..
1,485
919
919
l,Wt9
1966
Mar..
2-1/2^ Bond - 3/15/66.71.
3,Ugl
12/1/511
2-1/211 Bond - 6/15/62-67..
2-l/2)t Bond - 6/15/67-72..
7,967
5/5/52
6/15/62
1959
June..
2-1/1* Bond - 6/15/59-62..
Sept..
2-3/lt)t
Dec.
.
5,28U
Bond - 9/15/56-59..
2-1/^ Bond - 9/15/56-59.
Z-im
6/15/52
jMo
Bond - 12/15/59-62.
Total
8,75'«
1967
June.
982
3,823
12/15/52
Sept.
2-1/2)1 Bond - 9/15/67-72..
2,716
Dec.
2-l/2)t
Bond - 12/15/67-72.
11,689
12/15/62
U.gOl*
22,372
i960
1968
Mar.
2-7/8|(
Bond
3/15/55-60....
Dae.
l-J/H Bond
12/15/60-65...
2, 611
Dec.
l,l«5
Panasa Canal bond - 6/I/6I
2,831
June.
2-l/2)t Bond - 6/15/91-69..
3,761
'•/I5/53
>c..
2-l/2)t
3,838
9/15/53
12/1/52
1969
2,611
1961
June.
Bond - 12/15/63-68.
2-l/2)t
l,Ug5
Bond
- 12/15/611-69.
50
7,600
1970
1962
June..
Bond
2-1/2)1 Bond
2-l/l|)l
2-l/ll!l
-
6/15/59-62..
- 6/15/62-67..
5,28lt
6/15/52
5/5/52
3,>t70
12/15/52
2,118
Bond - 12/15/59-62.
Mar..
2,118
5,197
2/1/5't
2-1/2)1 Bond - 3/15/66-71.
3,lWl
12/1/5'*
6/15/62
1971
Mar..
Total.
2-l/2)t Bond - 3/15/65-70.
8.T5'»
1972
1963
June..
2-3/>i)(
Bond
.
6/15/58-63..
Dec.
2-l/2)t Bond
.
12/15/63-68.
.
Total
Source:
1/
g/
919
12/1/52
2,831
2,831
919
Dally Treasury Statement, and Public Debt Serrloe.
Sxcludefl postal saTlnga bonds.
It should be noted that callable Issues appear twice In this colunm,
once in the year of first call and a^aln In the year of final matuCallable Issues »ith rospaot to which a definite notice of
rity.
June.
2-l/2)t Bond - 6/15/67-72..
7,967
Sept.
2-1/2)1 Bond - 9/15/67-72..
2.716
Dec.
2-1/2* Bond - 12/15/67-72.
11,689 12/15/62
Total
22,372
call has been made, however, are Heted as fixed maturities. For
date of Issue of each security, see chapter on "Market Quotations":
for tax statue, see chapter on "Treasury Survey of Ownership".
Bank restricted Issues may not be acoulred by commercl.il hanks (with
minor exceptions) prior to a specified date.
Treasury Bulletin
20
DEBT OPERATIONS.
Table 2.- Treasury Bill Offerings and Maturities
(Moustt In llllont of
Dkt« of
(lollart)
March 1948
21
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Treasury Bulletin
22
DEBT OPERATIONS.
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
Ikte of
rrfusdio^
or retl resent
March 1948
23
DEBT OPERATIONS.
Table 5.- Issuance and Retirement of the Public Debt
(In nillione of dollars)
Treasury Bulletin
2k
UNITED STATES SAVINGS BONDS.
TJnltea States saTlngs bonfls were first offered for
sale In March 1915.
19^5 to April 19U1.
Series A-D were
Series t, T, and
on sale elnoe May 1, 13^1.
and conditions
of
from March
bonds haTs been
sold
For Information on the terms
these bonds,
see "Treasury Bulletin'
Issues for Deoember ipli?. page "^l, and October 1935i
Sales and redemptions data by States
pages A-UandA-5.
are published at the end of each calendar and each fisSales by denominations
after June ^O, 19'*7.
are also published semi-annually after Deoember 3I1 19*^7.
cal year
In the following tables sales figures are quoted at Issue price,
amd
redemptions and
ourrent redemption Talues.
standing are
been
redeemed
tions.
quoted at par.
are
Included
amounts outstanding at
Amounts
In
the
Matured bonds outstanding are
Interest-bearing debt
until
of
Series
Matured bonds which
all
out-
hare
figures on redemp-
reflected
bonds
of
the
In the
series
have matured, when they are transferred to matured debt
upon which Interest has ceased.
Table 1.- Summary of Sales and Red empt lone, by Series
Cumulative through January 31, 1948
March 1948
25
UNITED STATES SAVINGS BONDS.
Table 3.- History of Sales and Redemptions, by Series
SaleB 1/
Period
Accrued
dl ecount
Sales
plQB
accrued
dlecouut
Hedemptlone 2/
Totsl
Salei
price
(1b millions of dollars)
Series I, I, and
Tleeal years:
I9UI
igu?
19^3
I9IA
19'*5
19U6
ig**?
Calendar years:
I9IH
igUz
19^3
66U
5,993
11,789
1S,U98
14,891
9,6l2
7,208
66U
2
2,537
9,157
oS
19W
16;
igiis
12,?37
igW
1^1
7,'*S7
6.6^
Months!
igltT-July
Attest
September
October
NoTember
December
19>4e-JaBuai7
Total, Inception to January 31, 19^-
•5.9
^;lO
k66
U88
Ul2
U87
770
69,296
l,89l>
Accrued
dlscoiuit
Aaount
outstandlog
(int erestbearlD^
debt)
Percent of
monthly
redemptione
to amount
outstanding
Treasury Bulletin
S6
UNITED STATES 3AVIN0S BONDS.
Table 3.- History of Sales and Redemptions, by Series
IM
al*! 1/
ioora*i
Farlai
-
l«d«Bptlonj
plat
aeorusd
dltoonat
Salts
prlot
tattl
(Continued)
^
ieoraad
dlsoonnl
iaount
ontttandlBC
(intarait-
redaaptiona
to aaooat
oatataadlBf
d«t>t)
(Ib
alUloiu gf dollan)
Sarlaa t
flaoal jaarai
I9IH
19*2
19*3
67
67
»i
"•35
3
7«0
17
5«
89
1U9
203
75«
(02
«79
19*
i9^
19W
E
9
19
360
£91
WlO
1107
19^7
SU
2?
67
1199
3
17
57
88
i.aita
1,996
2,60U
2,895
3,099
lt7
197
Oalandar yoarai
19U1
likl
19*3
208
191A
i^:::::::::;:;::;;:::::::::::::
19*7
Month :
I9li7^ul/
iii«uat
Sapteabsr
Ootabar
%
773
595
325
y^2
13
27
6
21
21
I
as
k
26
22
17
oTaabar
total, Incaptloa to
luaaTj
31,
19^8.
65>»
7
750
35
5H
7
35
77
iS
lOli
189
203
185
II
IS
II
7
31
Ik
16
17
Mh
7
51
17
3,683
1U7
3,830
Daeaabar
19>t8-Janiui7
tot
2
B.a.
a. a.
1,569
2,278
2,793
2,969
3,162
3,115
3,123
3,130
a.«.
B.a.
3,1*2
3,1*7
3,162
3,196
63'»
3,196
Sarlaa S
laoal jaara:
I9IH
1
1
39*
12
12
2,lnlt
220
5.119
7,861
10,299
12,Ui6
1U.508
19*3
19**
19*5
395
2,032
2,759
2,87(
2,658
19116
2,1165
19*7
2,561
395
2,032
2.759
2,876
2,658
2,*65
2,561
19112
1,185
2,516
1,185
2,516
2
29
19*3
2,61tO
2,61>0
19ltlt
2,891
2,520
2,637
2,267
2,891
2,520
2,637
2,267
89
181
26U
U26
512
iacaat
Saptaabar
1U2
i25
1U2
Oetobar
loTaabar
Caoaabar
162
131
137
162
131
137
19l»2
Calaodar jraarai
igUl
19*5
19U6
19*7
13*
220
*69
2
512
1,183
3,669
6,221
8,931
11,186
13,397
15,152
1)2
*8
*2
lU,653
1*,756
lll»
ll»,85l»
*l
*1
UU
lA
*7
*7
l*,975
15,062
15,152
29
89
181
261»
!>26
Noathai
19ll7-Jnl7
1)8
l9U8-Jaauat7
Tot^, laotptloB
Souroal
B.a.
to Jas<iai7 31, 19*8-
Oallj Trtaaoir Stataaaa*.
lot aral labia.
2lM
2ite
l»6
l«6
15.35*
l6,90i»
16,90*
1,5*9
1,5*9
15,35*
Laaa than $500,000.
footnotaa to labia 1.
P«ro«nt of
onthl7
March 1948
27
TREASURY SAVINOS NOTES.
Treasury savings notes have been Issued In three
'Series A from August 1, ig"*! .through June 22,
I9U3; Series B from August 1, 1 9 Ul, through September 1^
19l)-2; and Series C on continuous sale since September llj,
series:
For details concerning terms and conditions. Investment yields, and tax payment or redemption values of
igi*?.
Series C notes,
see "Treasury Bulletin" for October 13^^,
and A-5.
For similar Information regarding
Series A and B notes, see "Annual Report of the Secretary
For sales
of the Treasury" for 19't2, pages 207 and 220.
pages A-U
and redemotlons of Series A and B notes by fiscal years
and months,
pages
4-2
see
"Treasury Bulletin" for February
In the following tables sales and redemptions of
Treasury savings notes are shovm at par value. Matured
notes redeemed (either for cash or for tax payment) are
Included In the figures on redemptions. Matured notes
outstanding are reflected In the Interest-bearing debt
until all notes of the series have matured, when they
are transferred to matured debt upon which interest has
ceased.
In
accordance with
the
practice
of the Dally
Treasury Statement.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through January 31, 1948
(In olllloQa of dollars}
Sarloi
19'*6,
and U3.
.
Treasury Bulletin
2B
OWNERSHIP OF FEDERAL SECURITIES
Table 1.- Distribution of Intereet-Bearing Federal Securities
by Classes of Investors aiKl Types of Issues
(In
kd
of
f Ileal
or
oath
lllloat of dollari)
March 1948
29
OWNERSHIP OF FEDERAL SECURITIES,
Table 3.- Estimated Ownership of Interest-Bearing Federal Securities
by Bank and Nonbahk Investors
(Par Talnai
Bald
tgr
V-
'" klllloBi of dollar*)
banka
Hald
bjr
nonbank InTaitora
total
mouDt
Ind of
Donth
oatstand-
total
OoBmaroial
taaka
V
Ndaral
Baaerra
Saoki
total
IndlTldnala !»/
Inaoraooa
ooBpaalaa
Mutual
aarlB^
baaki
Other
eorporatlona and
aaaoola^
tlona
i/
^
1939-Saaaalwr
"»7.1
18. 1»
15.9
2.5
28.7
9.8
6.3
3-1
ISluWona
k-j.f
50.
18.6
19-5
16.1
17.3
2-5
2.2
29-3
30.9
9.7
10.3
6.9
3-1
3.2
ISUl-Jona
Qacembor
19.7
21.4
2.2
2-3
32.9
fij.g
21.8
23.7
ItO.l
10.9
13.6
7.1
8.2
3-U
3.7
19U2-Jnn*
Sacaabar
76.5
111.6
28.7
U7.3
26.0
Ul.l
2.6
6.2
U7.8
6U.3
17.9
23.7
9.2
11.3
19U3-l4«roh
118.6
139-5
161.0
168.7
50.1
"A.
5.9
11.2
52.2
58.3
59.9
8.9
11.5
68.6
80.0
93-8
97.3
26.5
59.l»
3^.7
37.1
l4.7
15.1
II
IJlA-Kareh
Jmia
Saptaabar
Saoeabar
18$. 6
76.2
83.3
87.1
96.5
6U.0
12.1
109.
68.lt
llt.9
70.5
77.7
16.7
18.8
117-7
122.2
133.8
42.2
45.1
47.8
52.2
16.4
17.3
18.3
19.6
6.8
7.3
7.7
8.3
19U5-llaroh
Juna
Saptaabar
Baoanbar
233.1
256.8
260.2
276.2
105.0
107.3
115.0
77.7
8U.2
8U.0
90.8
X9.7
21.8
135.7
150.8
152.8
161.2
53-6
58.5
59.4
63.5
20.4
22-7
22.S
24.4
10.0
10.7
19U6-rabraar7 (paak)
Mar oh
Jiua
278.5
275-3
268.6
26lt.6
Baoaaber
258.0
93.8
90.2
gU.U
80.2
7U.5
22.9
22.6
23.8
24.0
23-3
161.8
162.5
8apfi«abar
116.7
112.8
108.2
IOU.3
97.9
63.5
63.6
62.9
62.9
63.6
24.8
25.0
25.3
25.4
25-3
97-9
96.8
9^.1
73-9
72.7
71.5
r^
22.6
160.8
161.5
161.9
Si.k
Maroh
258.6
258.3
256.0
April
25lt.6
255.1
255.2
71.6
70.7
70.0
21.9
22.1
21.9
161.1
162.4
163.3
65.7
Hay
93.5
92.8
91.9
91.9
91.9
92.2
ri
69.
21.5
22.2
22.3
69.8
69.3
68.6
22.2
22.2
22.6
Iteoambar
Jnna
Saptaabar
Saoaabar
201.1
209.3
23p.ii
19l»7-Jann«ry
'abmary
Jona
256. l»
Julj
iagatX
257.2
256.2
Saptmber
Ootobar
VoTamber ......
Caeember p
-
1/
Z/
2/
k/
67.2
71.5
97.'«
2557
92.0
91.5
251*. 3
91.1
256.3
72
».3
Btata and
looal
goTarn-
V. S.
anta 2/
trust funde^
OoTanment
a^aolea and
.4
6.5
.4
.5
u
2.4
4.4
.6
.7
8.5
9.5
.9
51
U.6
1.0
10.6
12.2
4.6
5.3
12.1
15.5
20.7
20.0
1.0
1.5
2.0
2.1
14-3
15.8
16.9
23.3
2.6
3-2
2.6
2S!4
27.6
l.l
18.1
19.1
20.6
21.7
25.8
29.8
28.8
29.1
4.4
11.1
11.2
11.5
11.7
11.8
27.7
27.9
6.7
6.7
23-5
22.1
6.3
28.0
28.2
29.1
30.4
30.9
25>t
25.4
2?.l
11.9
12.0
12.0
21.6
21.5
21.1
6.4
6.4
6.T
31.2
31.3
31.6
25.x
25-2
29.0
12.0
12.0
n-i
12.1
19.8
2«.e
20.1
7.1
31.6
32.2
32.8
lft.5
165.3
164.0
66.4
66.6
65.7
25.0
24.9
24.7
12.2
12.2
le.i
20.4
2C-7
20.4
7.1
7.2
7.1
33.3
33.7
33.9
164.4
164.1
163.1
65.7
65.6
65.3
24.9
24.7
24.3
12.2
12.1
12.0
20.4
20.3
19.9
7.2
7.3
33.9
34.2
34.4
i6o.i»
160.3
160.1
United States savlr^s bonds, Series A-D, 2, and ', are included
at ourrant redemption Talues.
Includes securities Issued or guaranteed by the U. S. Oovernment,
but excludes guaranteed seourltlas hald by the Treasury.
Consists of commercial banks, trust oompanles, and stock saringa
banks In the United States and In Territories and insular possesFigures exclude securities held in trust departments.
sions.
Includes partnerships and personal trust accounts.
*•?
65.&
5/
1^
II
5.3
5.5
6.5
25.2
7.3
22.9
24.9
26.6
27.0
Includea saTlOfs and loan aeaoclatlons, dealers and brokers, and
InTsstmants of foreign balances and International accountB In
this oountry.
See footnote 2 to Table 1, preceding.
Comprises trust, sinking, and Investment funds of State and local
goTernnentt and their agencies, and Territories and Insular
possessions.
Preliminary.
Treasury Bulletin
30
TREASURY SURVEY OF OWNERSHIP, DECEMBER 31,
The Treasury Survey of Ownership covera eeouritles
the United States Oovernment and by Federal
Issued by
agenoies.
in
Surrey account
the
such
and
The banks
held
securities
Insurance companleB Included
this
information la
published for
June 30
and
December 31.
Figures for December 31, 19l*7, will appear in the April iesue of the 'Treasury Bulletin*.
for approximately 95 percent of
by all banks and Insurance oom-
The
Surrey
which appeared
paniea In the United States.
the
for
Insurance
November
distribution of ownership by
companies Is published
each month. Additional information showing the holdings
of commercial banks distributed according to Federal
Information on
of banks and
member-bank classes and nonmember
been published at less frequent Intervals.
Reserve
Section
I
-
banks has
Currently,
May 31
began with
in
the
Revisions
that year.
types
ig^^?.
1
19''-3f
*n<l
data
for March Jl,
data
191*5
data on insurance companies
prior months appeared in the
issue; reclassification of data
on banks
period November 30, 19'*3, through February 29,
appeared in the May 19'+'* issue; and revisions of
for September 30, 19'*'*, appeared in the February
19'4-3
Issue.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(In
Claafllfle&tloa
illlau
»t ddlart)
of
of
for the
19l*lv,
19'H,
"Treasury Bulletin" for May
March 1948
31
TREASURY SURVEY OF CWNERSHIP, DECJEMBER 31,
Section
I
-
19l^7
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities, by Issues
(Par Taluee - in millions of dollBrs)
leeue
(Tax BtatuB 2/ ^^ shown In pareatheBee)
Treasury Bulletin
32
TREASURY SURVEY OF OWNERSHIP, DECEMBER 31,
Section
I
-
194^7.
Interest-Bearing Securities Issued or Guaranteed by the United States Govemment
Table 3.
Public Marketable Securities, by Issues
(Pftr
Itfaa
(Tax itmtaa 2/ 1* ahovn in p*rantbaaaa}
Tal««a - in llliona of dollara)
-~
(Continued)
March 1948
33
TREASURY SURVEY OF CfWNERSHIP, DECEMBER 31, 13^1
Section II
-
Interest-Bearing Securities
Issued by Federal Agencies but not Guaranteed by the United States Government
(Par TalueB - In millions of dollars)
ISBU6
(Tax status j/ Is ahoim in parentheses)
Treasury Bulletin
i^
MARKET QUOTATIONS, JANUARY 30, igl^g
Market quotations shown here are over-the-counter
In the New Xorlc market for the last
clonlnp; quotations
The securities Hated )n
public marketable securities lasued or Ruaranteed by the United States Government exThe Iscept those not regularly quoted in the market.
trading day
Section
I
of
the
Include
month.
all
Section
Table
1.
I
-
sues excluded are postal savings bonds
and Federal
Housing Administration debentures.
The latter are the
only public marketable Interest-bearing fwaranteeJ securities outstanding,
amotion II lists the public marketable securities Issued by Federal aRencles but not
guaranteed by the United States Oovernment.
Securities Issued or Guaranteed by the United States Goveminent
Table 2.- Certificates and Notes (Taxable)
March 1948
35
MARKET QUOTATIONS, JANUARY 30, 19h&
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 4.- Tax-Exempt Bonds
(Price decimals are 32ndG}
Amount
outstanding
(Millions)
Trcasuri/ Bulletin
36
YIELDS OF TREASURY SECURITIES
Bosed on Meon
•49
PERCEr
51
•53
55
of Closing Bid
57
•59
61
JAN.
30. 1948
and Asked Ouototions
63
65
67
69
•71
March 1948
37
YIELDS ON TREASURY AND CORPORATE BONDS.
Table 1.- Average Yields on Long-Term Bonds by Periods
Treasury Bulletin
38
CO
o
o
CD
UJ
q:
o
Q.
o
o
cr
IjJ
^
IT
(/)
i|
UJ ^
II
o
en
o
-I
UJ
>UJ
<
tr
UJ
I
March 1948
39
INTERNAL REVENUE COLLECTIONS.
Table
K-
Summary by Principal Sources
Kin thoueands of dollaxsj
71 seal year
or month
Total receipts from
internal
revenue
(Dally
Income and profits ta^ces
Adjustment
to Dally
Treasury
Statement
Total
Internal
revenue
collections
Treas\iry
1938
1939
1940
5,674,318
5,161,231
191*1
7,361,675
12,993,118
+30,470
-1,133
-19,637
+10,141
-36,797
191*2
Individual 2/
5,643,848
5,162,364
5,322,771
7.351,531*
13,029,915
2,629,030
1,286,312
2,185,U4
1,028,831*
2,129,609
3,471,124
8,006, S8l*
982,017
1.417,655
3,262,800
191*3
191*4
22,143,969
-224,755
1*1,684,987
+1,565,1*77
I9't5
43,902,002
191*6
1*0.310,333
39,379,'*09
+101,664
-361,589
+271,136
1*3,800,338
1*0,671,922
3,4l5,2l6
1*, 274,461
5,446,124
-773.21*8
3,375,31*8
2,853.323
-131, 0J3
4,188,463
4,405,544
3,359,367
3,052,421*
+875,813
'*,570,3ll
3,81*4,104
2,309,306
-420,588
2,578,1*64
-271*, 757
2,729,894
2,853,221
3,263,156
,958,399
,920,555
,550,605
19'*7
191*7 -January.,
February.
March.
.
.
.
April
May
June
22,368,724
40,119,510
39,108,273
16,298,868
33,027,802
35,061,526
31,258,13s
29,020,054
6,629,932
18,261,005
19, 031*, 313
18,704,536
19, 3^*3. 297
1,498,705
1,738,372
1,779.177
1,700,828
2,024,365
1,131,51*6
156,008
183,337
211 151
15.883,235
12,462,437
9,621,274
143,978
91,165
55, 1*83
30,157
101,302
12,727
1,290,025
1,307,931
1,237,825
1,458,934
186,1*89
178,71*5
185,876
170,1*09
,
265,011
284,758
284,258
379,555
1,849
25,158
82,208
039
232,127
1,447,131
2,368
3,204
131,186
331,960
97,622
123,856
287,800
6,959
4,076
10,440
3,25U
33.720
89,675
418,256
318,942
1,549,056
,282
,309
993
l'*8,287
319,151*
138,716
269.195
5,893
2,893
9,634
902
6,679
40,325
89,48U
412,077
270.799
1,487,118
494
,505
135,878
294,585
111,936
129,11*1*
25'*.55l*
3,193
8,633
l,4o6
31,398
102,861
2,683,21*7
,850,976
1,1*30,1*37
2,848,295
3,489,900
,877,563
2,704,580
1,557,312
1,15'*, 531
Ootober.
VoTesber
SBcember.
2,690,251
3.677,741
2,783,180
2,805,258
2,800,368
1,847,020
1,830,129
1,932,104
1,434,449
1,557.824
Fiscal year
or month
137,1*52
2/
1,661,992
1,685.223
1,101,038
-557.1*85
877,373
9, 581*, 715
w, 629, 31*4
ment
149,476
109,427
122,048
137,871
740,429
833,521
925,856
1,185,362
84,21*1
Railroad
retire-
90,267
101,167
106,123
100,658
119,617
71*2,660
33,71*0
4,687,1*62
Unemployment insurances/
502,918
529,836
605,350
687,328
895,336
42,786
27,010
37,172
56,621
Old-a^e
insurance
2,048,626
-185,930
-585,767
-115,007
tar.ee
Social Security
taxes
76,950
240,972
13,136
2,125,762
2,662,365
I*,
266,637
2,197,4ll*
Total
employment
5,898
2,898
3,482
3,992,776
776,736
1,299,932
1,122,541
1,120,582
2,016,297
MlBcellaneous
profits
taxes U/
108,956
July
Aaguit
Saptsabcr
.
y
Employment taxes
516,127
304,045
1,791,996
+729,620
.
Corporation
Income and
excess
profits
tajrea
Statement)
5,303,131*
Total
Income
and
profits
1*43,994
291*,
2.1*36
992
367,1*32
96,279
7,669
56,31*6
3,5'*0
Treasury Bulletin
uo
INTERNAL REVENUE COLLECTIONS
19J3
S4
35
36
37
38
39
40
41
42
43
44
45
46
47
48
I
I
March 1948
ki
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax
(In thousands of dollare)
fiscal yeere
TiTzt 6 aontbe
December
1Vp« of tax
Income and profits taxes:
Individual:
Withheld by employers:
Current Tai Payment Act of
Bevenue Act of 191*2
Other:
Current
Back
19U6
191*3
Z/
^
Total individual Income taxes
Corporation:
Income taxes:
Current i/
Back
Zxcess profits tELxet (Second Berenue lot of
as amended )
9,857,1*66
123
9,81*2,028
8,1*30,377
1*16,571
8,950,272
18, 701*, 536
19,31*3,297
3,901,917
738,032
5,lHtl,776
7,822,1*88
3,566,178
12,1*62,1*37
HiBcellaneous profits taxes:
Declared value
Vinson Act
Unjust enrichment
91,130
35
Total miscellaneous profits taxes
91,165
Total income and profits taxes
31,258,13s
ftnployment taxes:
Social Security taxes:
Old-age insurance
Unemployment insurance 6/
^
1,237,825
178,71*5
Total Social Seourity taxes
l,'*l6,570
Bai Iroad ret 1 rement j/
281*,
Total employment taxes
258
1,700,828
Miscellaneous Internal revenuet
Capital stock tax
352,121
629,601
Set ate tax
Sift tax
1*7,232
Alcoholic hevera^ taxes:
Distilled spirits (imported, excise)
Distilled spirits (domestic, excise)
Distilled spirits rectification tax
Wines, cordials, etc. (imported, excise)
Wines, cordials, etc. (domestic, exciee)
Dealers in distilled spirits; rectifiers;
facturers of stills (special taxes)
Stamps for distilled spirits Intended for
Caec^ stamps for distilled spirits bottled
Container stamps
Tloor taxes
fermented malt liquors
Brewers; dealers in malt liquors (special
11*3,080
1,603,1*97
1*1,850
-.
2,591*
58,250
manuexport..
in bond.
8llO
650,821*
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
Stanp taxes;
Bonds, issues of capital stock, deeds of conveyance etc
Transfers of capital stock and similar interest
sales
Playing cards
Silver bullion sales or transfers
Total stamp taxes
8,061
25
13,309
696
Total alcoholic bevera^ taxes 8/
,
191*7
191*7
251
550,7"»3
613,320
19l*0,
Total corporation taxes
3,106
2,526,162
1*1,381*
70
172
1,072,799
7.373
1*1,961
1.757
1,165,519
1*7,393
30,369
9,766
li*9
87,676
Dec enb er
»lecal
year
IlBcal
year
191*7
191*8
Treasury Bulletin
U2
INTERNAL REVENUE COLLECTIONS.
(Continued)
Table 2.- Detail of Collections by Type of Taxda
thooaandi of dollars)
Tlrtt 6 Bonthi
flaoal joari
fjp* of tax
19ll£
19*7
Docoabor
Docaaber
19>»6
191*7
rioeal
Hieal
jaap
yaar
19*7
19i««
Nltcsllanooui Inttrnal roTonoa (oootlnuad):
Manufactur*ri' and ri«tall«ri' ozolta tazail
Wbrl eatlB^olli
7>1.602
Oaaolloa
Tlret and tnboi
floor tazei on tlrea and tubat
iatOBOblla tnjcka and bu««*
Oihar antOBoblloi and Botorc^olat
Partt and aooettorlot for antoaobllas
Bitot rloal anar^
llaotrla, caa, and oil appllanoai
llaotrlo llsbt bulba and tuboa
Sadlo aata, phonocrapha, ooapoaoata, ato
Pboaoffrapb reeorda
Huiioal InitniEanta
Maobaalcal refrlfaratora, air-^oiLdltloBarB, ato.,
Matobaa
Tloor taxaa on aatohaa
Bualnaaa and atora aachlaao
fora - ratal lara' azolaa
JavalxT - ratallara* axelaa
Lotfaca - ratallara' axolaa
^otOfrapMo apparatus
Sporting gooda
Tollat praparatioaa - rotallara' axolaa
flrearaa, ahalla and cartrld^aa
Pi atola and rorolTora
Rapaalad taxaa
,
,
<
Total aannf aflturara
'
and ratallara' axolaa taxaa
Miacallanaona taxaa:
Su«ar let of 1937
,
Talaphona, talacraph, radio, and cabla, laaaad
.
.
vlrea, ato
Lscal talaphona aarrica
Tranaportatioa of oil by plpa llaa
Tranaportatlon of poraona, aaata, bartha
Tranaportatlon of proparty
laaaaa of aafa-depoait boxaa
Idalaalons to thaatara, concarta, ato
Adalaalona to oabareta, roof gardana, ato
Club duaa and Initiation faea
Bovllnc allaya, pool tablea, eto
Cola operated doTlcea
Ad'dltaratad and procaaaad or reaoTated butter,
and f 1 lied cheaae
Oleoaargarlne, Including apeeial taxea
Varcotlca. Including aarlbuana and apedal taxaa.
Coconut and other Tegetabla olla procaaaad
Vatlonal TlrearDa Act
All otber, Including repealed taxea
Total aiacallaaeoua taxaa.
Total mlacallanaoua laternal reTenua.
Total laternal rerenue oollectloaa
Adjuatment to Dalljr Traasuiy Stateaant...
Total recelota fro« lateraal reremia (Sally Treaaury
Stateaeat )
Sonr««t
*
^
^
'W5.695
118,072
82.015
t3),676
7,237
8,553
U2.3I1O
^,lci
i»9.oi*i
17'»,927
17.283
15,630
230,285
88,127
6,021
20,869
9,786
5,168
6,0lU
2,339
5.711
972
9.360
30,001
11,388
6.153
8.112
•
37,li2
25,893
68,871
20l|,680
U2
63,011*
Z5,'t92
65,608
83,110
63,856
59.
17,7«1
13.385
3.908
8,839
9,289
10,8U7
68,099
99,938
8,»*98
10,151
37,358
8.^13
15.792
91,706
883. 3H8
<1,«23
1,7'11
8, SOU
38,975
251.960
81*,
355
•
•
25,275
38,688
89, ss"*
1»5,600
129,'l«g
29,973
29,1*28
10,1105
87,ll02
62.770
32,037
1*2,899
11,320
3ii,63it
910
752
1,205
2,967
l»,53«
•,113
16,390
3,661
S,969
27,978
6lt6
1,070
1«,156
5.51't
8,557
15,119
81,867
2,891*
18,35'!
11,717
16,53U
108,571
3U,380
97,21>i
111,187
37,11*8
17.600
8,109
20,919
8,666
Ul,98l
80,767
7,''«5
15. 01*1
7.878
3,300
1,581
li,071
95,57'*
8,21*9
8,51*6
5,838
61
8Ul
58^
85
88
879
U)i,i90
11,510
75
5
181
137
I159
1,939,621
186,836
8llt,902
928,970
1,030,7611
56,732
59,152
3,709
9,1101
29,570
l*'*,768
83't,393
1115,689
252.71*6
33,079
21,391
1.800
81,679
32.326
727
38,031
133,765
85,261
8,051
131*, 3»6
138, 8U2
3,912
135,981*
96,lli8
3I1.526
35,702
1,782
11,900
H
65
395
209.993
10,976
3.6U5
17.039
208,771
28,366
11,813
3,379
16,095
a,18«
1,'HU,717
27,757
17.582
1.620
6,5i»3
29_
72,077
18,899
U.Oll
17,092
9IA
16,988
2W»,003
275,701
8,560
392,873
63.350
23.299
U,U58
20,U38
30
1
26
12
'1,938
5.871*
38U
670
3,031*
l».770
69U
6,278
792
17.208
8
35
810
39
353
6,387
U
116,3'*7
1*22
386
12,980
6
33
88S,75<'
880,12:
7.857
3'»3,191
161*,
l,51li
20,909
28,976
628
5,li81
»86
2,066
2,302
309
9,093
135.1133
156,1*81
1,131*
1, '189, 989
l,550,8l«
II15.83U
168.872
820,038
S68.6U0
7,712,956
8,063,8511
713.813
756,328
11,181,007
u,^6l,758
1(0,671,322
39,108,273
2,968.117
2,800,368
17.097,683
17,>*10,?U9
136
785,155
877,373
+265,380
209,921
39.379,'i09
3,693,272
3,677.71*1
17,363,063
17.620,170
-361,589
'•0,310,333
Bbily freatnr/ Btata(1) Total rooHptt froa iBtarnal r«T«nnai
«Bts; (?) Oiitall«d eoll«etlont I7 tjpe of tftzi Boportt of coll«etlont Bsdo bj eoll«etort of lateraal roTonuo.
Utf than $300.
BzclatlOB eollflctlons for cradlt to cortala tnut accounts for
Torrltorlo* and iDBular pot«*««loiM, oto.
Oollcctlont uAdor tho Oorroat Tax Pcgraoat lot of I9U3 mm ahovn
IB thli tfthle coatlit of thoi* for which ratonu bars hoon filad
vltb tho Colloetor of Ictomal fi«TeDa«i rooelpts under thlt Act
AO hovn in Xbll/ frtmMnrj BtatasoDti coailot of vlthholdln^
taxot dopotltod Id OoTeraaent dapoBlt&rlao In addition to pa/Benti
aceoapanTinc roturni filed with the Collootor of Internal Beronoe.
271
,
5/
Onrraat oolleetloDt eonalet la genaral of taxaa paid within tvalre
aontba after the cloae of the taxahla year for whi^ the retura
was filed.
Beflonin^ Juljr I9U7 collection! froa the tojc on unjust enrlohoent
are Included with *ill other' alscellaneous taxes.
Bepresents collections under the Inderal Insurance Contributions Act.
Bapreaente coll'-otloua under the Nderal UneBploTiaent Tax Act.
Bapreaenta oollectlona ondar the Ballroad Betlrenent Tax Aat cosaenolof Janu&r7 1, 19^7) prior thereto, oollectloaa under ths Carriers' Taxing Act of 1937lacludas collections froa the repealed tax on brandj used for fortifying sweet wines.
March 1948
^3
MONETARY STATISTICS.
Table 1.- Money in Circulation
(In Bllllona of dollara except as noted)
Paper money
Ind of fiscal
year or month
19140
Total
money in
circulation 1/
Total
paper
Boney
7,8U8
9,6l2
12,383
8,932
11,600
7,2lt8
Gold
certificates
Silver
certificates
Treasury
notes
of 1890
United
States
notes
17,1121
16,1192
19W
67
63
59
57
22,50U
21,U38
5"*
1,588
300
317
322
322
19|»5
19't6
26,7U6
28, 2^5
28,297
25,5'*1
26,91*5
26,91*2
52
1,651
2,025
2,061
28,11*9
28,1*35
26,792
27,072
27,192
1*8
19111
191*2
I9't3
I9't7
19lt7-July
-Au^Bt
Septenber
.
.
.
October.
HoTenber
Ibceober
19lt8_Jaimaiy p
Xnd of fleoal
jeax or month
28,567
1*7
1*7
federal
Beeerre
notes
1,582
21*8
5,163
1,711*
1,75't
6,68l*
Federal
Baserre
Bank
notes
22
20
9,310
Hatlonal
bank
notes
v
165
150
139
132
126
18,750
58U
597
323
317
320
22,867
23,973
23,999
1*06
106
2,033
2,051
2,oU3
317
320
317
23,887
1*00
151
397
391
106
106
105
1,61*9
13,71*7
21*,
2U,289
120
111*
28,552
28,766
28,868
27,167
27,369
315
320
313
2l*,582
387
383
378
10>*
"7
U7
2,029
2,0U0
2,039
2l*,283
27,1*63
28,092
26,709
1*6
1,91*8
303
23,933
375
102
1*7
2l*,l*75
103
103
Treasury Bulletin
kk
MONETARY 3TATI3TIC3,
Table 2.- Monetary Stocks of Gold and Silver
(Ib alllloai of dollara)
^i
JT
Oold
tt tiioaX
or BHtll
(»35 p«flB« ouao«]
IS^
19,963.1
2Z,62U.2
lSf*l
nun
latls tt tllTcr
to gold BBd
sllT«r la
($1.?9» j>«r
flot onBoa)
oaatuy
ttdoka
J;?52:7
u, 306.3
U,2J8.5
3,947.9
16.5
15-5
15.9
16.1
15-7
19'«
1913
19"*
»,736.7
19^
igw
20,813.0
20,869.9
81,866.5
3,6«5.«
ip.l.
3, 5O8.it
lU.g
3.585.7
ll«.8
81,537.0
81,765.9
22,3»7.5
81,173.1
ig"*?
19117 -July
Stptflabar
81, 955.
3,530.6
3,533.1
3,535.7
lU.l
lU.o
13.9
Oetobar.
82,89U.3
3,5^.1
lOTMbw
82;6lU.I>
IlM*ab«r
22, 753.9
3,5U3.'l
3,5't7.9
13-7
13.5
13.5
88,93U.8
3,551.6
13 t
^i^it
.
.
19U8-Jumar7 p
Sooreai
P
Dally Treasury Stateaent and Circulation Stat«m«Bt of U. S. Monigr.
Prellainary.
Table 3*- Gold Assets and Liabilities of the Treasury
(In mllliODe of dollars)
Llatollltlet
Ind of calendar
7oar or aonth
Oold aaastt
Oold eortlfioatee 1/
Oold raserre
against U. S.
notes, eto. 2/
Irchan^
Stablllxatlon
Oold IB
H
March 1948
MONETARY STATISTICS.
Table 4.- Components of Silver Monetary Stock
(In mllllonB of dollara)
Silver held In Treasury
SeenrlQ^ allTer
eertlftaatM 1/
Xnd of oalondar
jear or aonth
Silver
ImlUon 2/
Stiver
dollars
H99.0
itoo.i*
ll.k
1,520.1
1,703.9
1,911.2
1,937.6
376.5
356.
12.5
10.2
3U3.'*
11*.
337.2
31*1.0
September.
1,925.6
1,929.0
1,930.9
October.
Hbvcnber
December.
igito
191*1
191*2
191*3..
191*4
191*5
191*6
iSitT
igUT-Juljr
Ao^st
.
.
.
.
.
19l*8-Jaaaaxy p.
Source:
1/
?/
Bullion
Bolllon for
reeolnage U/
Snbaldlaiy
eoln 2/
1,298.3
l,?9g.l
1,S76.1
1,516.2
1,520.0
1939
Silver
oat tide
freaaniy
In Oeneral fund
at ooat 3/
Silver
dollars 1/
616.0
1*8.1
657.1*
562.3
628.2
551.8
52.5
63.0
78.8
96.8
13.1
U05.6
I85.6
93.1
91.1
339-9
338.9
19.3
17.9
15.2
1,933.5
1,935.3
1,937.6
338.5
337.9
337.2
lU.O
12.9
13.1
.2
1,91*0.6
336.9
13.1
.1
5.3
2.3
3.5
U9it.6
IWH.I
U6«.3
19.1
.1
.7
.2
Daily Treasury Statement and Circulation Statement of U. S. Money.
Valuel at $1.29 per ounce.
Includes allver leased to Office of Defense Plants of the fi. T. C.^
etc. (see Daily Treasury Statement for amount).
Does not include
silver lend-leased to foreign governments (see 191*6 Anrmal Beport of
the Secretary of the Treasury for amounts).
k/
^
p
•
Sn^sl diary
coin
y
39'*. 1
1*22.1*
Total
silver
at »1.29
per ounce
3,790.2
060.0
1*,
1*93.5
l*,2l*l».8
587.3
68U.7
1*,317.6
117.5
137.5
150.1
156.3
771.6
3,870.6
3.512.8
901.1
928.7
3,51lt.2
93.6
92.6
93.5
152.5
153.6
90U.8
151*.
910.8
3,530.6
3,533.1
3,535.7
92.3
91.6
91.1
15U.9
155.6
156.3
916.9
922.9
928.7
3,51*7.9
91.1
156.5
929.1*
3,551.6
81*6.7
906.1*
U,207.3
3,51*7.9
3,51*0.1
3,5l*3.'»
Valued at $1.38 per oun^e.
Valued at $1.38 per ounce or at $1.29 per ounce according to
whether the bullion is held for recoina^ of subsidiary silver
coins or for recoinage of standard silver dollars.
Preliminary
Less than $50,000.
Table 5.- Silver Production In the United States and Acquisitions by Mints and Assay Offices
(In llliona of ouncea or dollars)
Calendar year
or month
Silver
production in
United States
Silver acquired by mints and assay officee
Vevly mined domestic
silver 2/
Dollar*
Ounces
71.3
61.7
63.9
68.3
71.1
70.6
61.6
60.7
68.3
70.5
191*2
55-9
1*7.9
191*3
1*0.8
5.5
191*1*
35-7
29.3
1937
193«
1939
igiio
191*1
191*5
191*6
19'*7
21.lt
36.1
2-5
3-7
19l*7-Januar7.
february.
March
3-3
3.2
3.6
2.1
2-5
3.7
3-'*
Source!
1/
2/
312.2
282.8
139.5
72.6
156.
120,
1*17.1
ito.i
31*3-3
163.3
199.1
160.6
50.
27.
208.0
99-1*
1*8.5
50.1
11*3.1
77.2
3-9
62.1
5-5
1*0,0
•
•
•
.6
11*.
31*.
3
6.0
-9
October...
Vovember.
December
.
108.
355-1*
i*.9
3-8
1-9
2.9
.
21*1.5
1*2.1*
.6
1.9
2.6
2.2
.
5U.6
i*.i*
July
Aaguat
Septeaber
.
Dollars
Dollara
.9
2.7
2.7
3-9
^
U.9
30.3
2.7
1.8
2.0
2.7
2.7
1.9
April
May
June
foreign silver
!*/
Aonaal figoree from the Boreaa of the Mint. Monthly figures on
U. S. allver production from releases of the Aaierlcan Boreaa, of
Metal Statistics; these will not a^ee with the annual figures.
For Information on silver production in other countrles» see
Data from 1933
annual reports of the Director of the Hint.
throu^ I9U1 are summarized In the 'Treasury Bulletin" for
Auguet I9U3, page jk.
Acquired at 6U.6U cents per fine ounce until April 9, 1935; **
71.11 cents per fine ounce from that date until April 23, 1935l
27. U !*/
2.U
1.6
1.8
2.U
2.1*
1.8
3.>*
1-7
2.6
1.9
2.2
3-1
30.3
2.7
1.8
2-0
2-7
2-7
1.9
3.8
1.9
2.9
3.9
!*/
2lMk/
Z.k
1.6
1.8
2.1+
2.U
l.S
2.6
2.1
2.5
1.9
3."*
3.1
2.2
at 77-57 cents per fine ounce from April 23, 1935, to December 31,
1937; at 6M-.6U cents per fine o\ince from December 31, 1937i to July 1,
1939; at 71.11 cents per fine ounce from July 1, 1939, to July 2,
19^; and at 90-5 cents per fine ounce since July 2, 19*16.
Acquired at various prices averaging approximately 5I cents per ounce.
Includes 0,2 million ouncea valued at 71-11 cents per fine ounce
totalling $0.2 million, and 30.I million ounces valued at 90.5 cents
per fine ounce totalling $27-2 million.
Less than 50,000 ounces or $50,000.
Treasury Bulletin
U6
MONETARY STATISTICS.
Table 6.- Setgnlorage on Silver
(OuaalatlTa trom Jamuur
8«araaa of
fcd of oalaadar
/ear or aonth
Salc&loraca
OB oolaa
(allvar and
NlBO. allrar
(tacl. allrar
tnillloB hald
Jia» lU, 193U)
laor)
1,
aal^ora^
Iavl7 Blaad
llrer
(Proc.
Bao. 21, 1933)
lllloM
1935 - '>
oa allTer bullloD roTaluad 1/
Bevl7 Blned
•llTar (iet
Jnlj 6. 1939
aad
Jul/ 31, I9W)
U.l
S-T
19I1O
19*1
19U2
'W.7
»i«.7
'W.7
•w.7
122.2
182.1
'W.7
'W.7
'W-7
'W-7
•w.7
<7.6
18.7
'W.7
'W.7
87.6
87-6
87-6
7'».5
87.6
87.6
87-6
299-6
362.3
19''3
19IA
19'>5
U29.5
19^
••91.9
19>»7
520.5
A<i«nat..
509-5510.0
Saptaatar
510.7
'W.7
'W.7
IW.7
Ootobar.
loToabar
Dacaabar
513 -I*
Us.
igkT-Jolj
19U8-Jannai7.
SouToa:
1/
.
36.0
58.0
7U.9
87-3
69-5
91-7
2lt5.7
87.6
<7.S
87.6
516.1*
U8-7
520.5
i»«.7
521 .U
U8.7
87.6
Por-
ohsaa Act
of Jona 19,
I93U
•llTar
(Proo. af
*>i«-9, ISS"!)
326-2
3'».7
5O8.I
616.0
705.6
3U.7
3h-7
701.6
832.1
832.1
3U.7
3U.7
70.9
71.9
72-5
832.1
3^.7
y».7
73-3
73.8
832
7'i-5
75.
11.1
^
Period
Billiona of dollars at $35
pez"
^^*
ka.i
Fotontlal
selfBlora^e on
•llTor bollloB
at coat in
Oanaral Kind g/
27U.9
397.5
541.6
758.8
950.6
.055-8
34.7
799-7
,0890
3'*-7
818.
3^.7
820-6
820-7
,048.2
967.3
717.3
938.1
1,069.6
1,077-6
333-2
161.2
146.8
l,07'*-0
3'* -7
1,075-0
1,075-6
156.1
141.2
154.1
832.
832.
3^-7
3U.7
yt-7
1,076.4
1,076.9
1,077-6
149.4
146.8
832.1
3t.7
1,078-5
14U.9
832. 1
832. 1
3'* -7
y.7
149.
silver certificates.
figures in this column are not eusalativa; ae the aaount of
bullion held changes, the potential eelgniora^ thereon ehanees.
^e
Table 7.- Net Treasury Gold Receipts, by Source
(I-n
total
•algsilora^
on allTor
raralnad
3t.5
3H.7
3'»-7
li:2
Ball/ Troaaory Statemant.
Thaao Itaot reproaent the difference between the ooat Talue and
the aonetary value of silver bullion revalued and held to secure
atlonalltad
562.7
580.*
584.3
58U.3
58U.3
?•''
IW.3
63-6
87.
87-6
87-6
87.6
81 iTor
226.2
302.7
366.7
H57.7
530.7
1S.8
1935
1936
1937
193«
1939
of dollari)
ounce; negative figures indicate net sales)
March 1948
"^7
CAPITAL MOVEMENTS.
Information relating
capital movemente between
to
net
position In foreign currencies
of banks
and
brokers In the United States, their outstanding foreign
the United States and foreign countries Is presented In
Section
four sections.
of data
contains the principal types
I
movements
on capital
by years
exchange contracts, and purchases
from 1935. and
and
sales of foreign
exchange, both spot and forward.
Each type of data la then broken
currently by months.
down Into Its chief components In the same chronological
These data relating to capital movements are based
on
detail.
reports
filed
month by
each
banks, bankers, and
brokers throughout the United States,
The reports are
collected, oneoked and tabulated by the twelve Federal
Section II supplies a geographic breakdown by prinThe total capital
for recent months.
movements are given first and then the principal catego-
Reserve Banks.
The totals are then forwarded to the
Treasury Department for consolidation and publication.
cipal countries
Ip addition, at this point,
ries are shown separately.
claims
on and liabilities to foroutstanding
total
the
Figures
for
previous periods may be obtained from
the following sources:
eign countries are each presented.
"Treasury Bulletin" November ig^-Si for » summary of
capital movements, and position In foreign currencies by months, 194-2-19'*5.
,
Details
with
respect
to
capital movements
and
short-term claims and liabilities are presented In Section III as of the latest month for which the data are
Supplement to "Treasury Bulletin",
November 19'*-5i
on "Capital Hoveraents between the United States and
Foreign Countries, January ig"*-? through April 19lt-5",
for details during that period.
available.
Section IV
contains
"Treasury Bulletin", March 19*^2, and earlier Issues,
for details covering years back to January 2, 1935-
data for recent months on the
Section
I
-
Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(Is thosstndi of dollari: negative flfares
laUeat* a net oatflow of capital froa the United Statei)
Analysis of net capital aoTeaeat Inl
Calendar year
or month
1935
I93S
1937
1938
1939
1940
(J«a.
2, 1935-Jm1,
(Jan.
2, 1936-Dea. 30,
(Deo. 31, 193&-DSO. 29,
(Doo. 30, 1937-Bee. 28,
(Beo. 29, 1938-Jan.
3,
U, i9iio-Dec. 31,
(Jan.
1936).
I936).
1937).
1938).
19W).
19ltO)
Hat capital
OT em flat
Short -tern
haaldn^ fonde
Transactions
In doBeatlc
securities
Brokers^
balances
l,WlO,686
992,829
l,22fi,722
1*28,11*2
6,039
6,811
316,660
600,693
833,715
287,39"*
3>»,6«7
2l|J*,626
1*12,956
328,968
1,135,'«3
1,198,735
695,080
8>tl,628
3'«
57,196
32,990
20,358
-21*5, 062
-85,1*27
19IH
-1*53,823
-21*3,522
-1*9
-261,955
191*2
19't3
626,121
1,286,893
583.373
1,168,058
^,599
19IW
19^5
19U6
191*7
;
(Jan.
Total (Jan.
1-Oct. 31, 191*7)
2,
19U7-January
Tebruary
March
^rll
HV
Jiue
r
19?5-Oi:t
.
31, I9U7)
125,158
191,076
267,008
26,758
115,689
78,156
51,703
-7,366
77,696
1*61,351*
ll|«,59l»
3,513
13,372
8,529
l,07't,375
-793,321*
l,a6,303
17,791*
27,767
210,735
-113,105
9,661
-33l*,203
671,1*90
811,778
8,1*69
-1511,1(99
5,71*2
8,680,980
5,965,119
162,20s
310,025
1,21*3,628
-3,325
6,201
-2, 068
-152
-2U,698
-25,362
70,270
-78,335
52,733
7,069
2,381*
-5,171*
lt,388
-18,238
-5,102
59,0H7
39,069
17,32U
-733,909
93,''96
-46,617
265,127
67,81*0
1,01*7
1,882,57'*
1,979,'«'6
-223,190
-21*8,1*93
3l*,798
-263,263
-33,702
-278,920
-67,1*58
-8l»,068
2.810
231,957
75,911
-1,031
-7,1*26
1*,32'*
-516, 81*6 r
-l*,2Ul
-23,296
-23,823
-220,690
16,265
36,730 r
2,326
-28,786
13,329
Jal7
August
September
-508,180
October
-327,61*5
Berlaad,
Transactions
in foreign
securities
73. 201*
1
-31l»,511*
Treasury Bulletin
kg
CAPITAL MOVEMENTS
Section
I
Historical Suimary
-
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Position at and of period 1b tbouisalt of dollars)
Ihort-tara olalas
fa^akla
ad
of oalsDd&r
7esr or aoatb
total
IB
forsl(B
Stiort-tara llakllltlas
Pagrakla in dollars
forsl^
PsQrabls 1b dollars
total
Loans to
Othar
Dsposlts
of
Othar
forsli^rs
1935
1936
1937
193s
19J9
19W
(»»e
iOtc.
(Bso.
(Sao.
(JsB.
31, 1935)
30, 1936).
29, 1937)
21, I9U),
(Ue.
19»0),
3,
31,
128,951
ll>0,911
508,708
3S3,97«
19110)
I9kl
3«T,7»6
I9t2
216, 673
191W
19*5
,
igW
,
l^l-Jtauaj
730,693
17,068
30,916
3l,3«7
161,263
96,726
116,917
165,521
173,238
115,U8
U6,633
188,}65
131,977
385,636
310,177
268,719
221.383
l,J01,ll2
1,623,317
1,893,087
2,203,185
3,221,328
3,938,252
1.156,196
1.156,885
1,600,507
1,985,025
3,025,189
3,786,182
202,085
113.70?
137,161
169,670
3,352.223
1,710,992
?'?'
17,189
98, U9
100,267
319,639
2115,010
290,195
3,678,518
1,205,389
5,371,903
5,596,775
6,883,068
6.180.262
313.213
315.137
337,775
321,002
360,719
388,555
6.503,699
8,506,988
8,302,351
5, 003, I'M
1.
1.771,282
72,0118
86,378
105,
la
Iii3u|62
1,356,501
U.9b6.62lt
1.693.911
ataort-taiB
IB
llaMll-
forsl^
Itlaa
corTaaelan
16,795
?o?,597
111,791
135,311
121,001
97,851
99,951
82,983
103,369
60,828
31,019
522,563
950,703
1.238,097
1.577,11}
2,712,626
3,551.251
306,618
668,168
1,222.580
1,218,633
1,910,898
1.715.722
19,677
13,893
17,911
21,611
25,516
10,629
3,310,732
3.958,716
5,116,971
5,267,081
6,190,302
5.772,009
1,723,106
3,5Si,1o£
3,391,699
39,601
36.605
36.031
5.773,006
7,752.112
7,503,919
36,136
29,391
31,170
7.170,217
7,191,297
7,107.229
66,ii78
7sbmai7
75'»,576
March
79«.»32
93,178
78,720
72,102
April
801,836
S80,20;
933,025
116,913
128,971
159,501
2'»0,850
UWi,olt3
271,650
2lt8,l02
176,581
525,119
8.272,053
8,071,502
8,OlW,25l
1,992,151
3,232.169
3,270,826
3,016,630
155,722
Saptoabor
979.199
967,296
957,200
113,196
?73.553
268,072
268,183
519,921
519,312
515,821
8.318,385
8,382,393
7,855,l5lr
5,093,556
5,2^0,172
1,915,159
3,189,10?
3,093.851
2,872,839
35,720
38.367
37,153
7.339.186
7,115,097
6,898,2511
Ootobor
963,361
156,622
273,516
533,223
7,517,098
1,895,586
2,607.907
13.605
6,583,737
»V
Jvna
J«l7
Aog-Jst
r
152,«37
150, OW*
66,715
17.177
at
Psrakla
,
lU? ,912
"1,888,977
1,871, 61s
Rerlsed.
Table 3.- Net Movement of Short-Term Banking Funds
(In thansaads of dollarsi asgatlra flforas Indloata a net ootfle* of oapltal froa tha Saltsd (tstas)
Short-tsra llabllltlss
flhort-tarm claims
CalsBdar yaar
or noBth
total
Parakla
IB
forsicn
oorrsadas
1935
1936
1937
1938
1939
19«0
('•»
WS-Jnn.
Loaaa to
forslcn
baaka
Ps^abla iB dollars
total
Othar
Osposlts
of
forslcsars
Othor
Pajabla
lat
short-tara
IB
UabU-
forol^
Itlss
curranclss
19I0)
361,360
70,119
17,621
28,9l8
117,310
19I10)
12l»,72ll
228,132
-11,788
-11,526
2,393
83,299
19,268
16,192
97,503
-11.256
-71,765
-63.072
-315.1«7
I09
15.933
-3.171
-20,216
7,111
-50,630
-a9,372
19,298
60,899
6,515
-32,506
-75,310
-15,185
-255,108
-58,503
16,123
-2U2,728
1,066,886
201.725
862,185
2,976
811,778
117.122
197,111
-171,388
91.096
6.817,997
1.269,111
2,591.785
-12.932
6,965,119
-22,110
-23,883
-13,856
1,611
11,758
6,6l8
6,U26
-1,921
-22,638
-33,507
-36,717
-27.836
23,187
2,003,289
-201,637
17,131
117.985
-11.359
-22, 616
1,858,300
-189,707
-1,028
-2,996
-571
1,017
1,979.106
-2l8,U93
-3,U0l
-78,369
-52,820
-uu.sui
-12,031
-30,530
96,925
-33,800
-55,1*88
-30,298
-200,551
-31,218
128,530
-231,866
221,172
It02
-2511,196
-7,0l2
1,776
-33,702
-278.920
26,2ll8
-32,538
-18.538
-159,230
38,357
Jnas
JxHj
August
Ssptsabsr
-16,171
11.903
10,096
3,782
5.810
6,716
-25.151
5,181
-111
-2U.805
6l2
3.191
278,131
-526,9lt2r
101.102
156,616
-301.713
172.179
-95.255
-221.015
1,550
2.6I7
-1,211
-6,l6l
-13.126
-5.333
12,598
-19,873
-26I.932
6,152
2,
1,
(Jaa.
2, 1936-Baa. 30,
(Dae. 31, 1936-nBC. 29,
(n»e. 30, 1937-ns«. 28,
(Bac. 2?, 1938-JaB.
3,
(Jan.
1, 19b0-aK). 31,
1936)
1936)
1937)
19W)
1911
I9I2
I9I3
19W1
I9I5
19W
I9U7
Psjrabls IB dollars
(J«B.
1-Oet. 31, 1917)
total (Jan.
2, 1935-Oot. 31,
19>17-JaaBai7
Vshroary
March
^rll
Msjr
Octobor
I9U7)
-3.552
31,868
-20,191
-148,601
-7,717
58,120
-3,515
20,671
-11,330
-19,013
5,151
136,780
53,C39
19,311
75,159
11,758
17.336
631,169
358,023
269,770
300,020
,018,113
5,901
716,
-259.711
185,870
1,179,311
220,359
1,279.375
-1l8,l22
-133,959
105,607
61»,008
-308,353
587,331
333.107
113,622
3711, bito
l,oiio,l6li
760,993
620,8811
220,576
6,333
19.683
113,119
-9«,8o6
20,520
-11,310
37.802
1.933
-16.971
20,386
-l2,5ll
-29.779
185,617
585,365
55I.I12
-3,917
692,265
-181,651
-11,372
-5.102
1,018
3.730
3,905
15,083
992,829
128, ll2
287,391
328, ?68
i,y5,i«3
8ll,62f
-213,522
583.373
1,168,058
ll8,59l
i,a6,303
-733,909
-8>»,068
I
231.957
75,911
-5l6.8i»6i
-311,511
I
Bevlsed.
March 1948
'^9
.CAPITAL MOVEMENTS.
Section
-
I
Historical Summary
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(Za thoasanda of dollart)
Dsuitle itoeka
Calandar xear
or aonth
(Jan.
2, ig35-Jaii.
(Jan.
2, 1936-nio.
(n»o. 31, 1936-B»o.
(Bao. 30, 1937-Boo.
(IM. 29, igig-Jan.
(Jaa.
«, 1940-100.
1935
1936
1937
1938
1939
19«0
PnrohAaM
I936)
B.a.
30, 1936)
29, 1937)
2«, 1938)
a. a.
a. a.
1,
3, 19I10)
31, I9U0)
igin
igte
IS"*?
19W
iHS::::::::;::::::::::;:::::::::::
1-Oot. 31,19'*7)
(Jan.
1917
a.a.
n.a.
Salss
BDBBttic
let
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
Porobastt
^Ods
Salca
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
n.a.
a.a.
a.a.
a.a.
U%
1,302, 68>»
2,68l»,391
a.a.
28>t,206
'173,052
-188,8l){
221,816
278,032
-56,216
lW,039
368,S58
75,688
196,616
-222,519
20,895
l7'»,95a
l6>*,218
2l»l,299
2ll»,
-39,'*36
96,383
151,639
136,853
260,223
367,6*9
17U,660
-^,977
388
171,1132
-3l*,579
-97,632
1*32,109
-gU,l|60
513,558
?77,717
6lU,U70
303,320
-128, 6S0
20lt,3ll*
230,153
19M^aimar7
U,i»l6
29,1*65
1«,367
33,065
ai,i«3
i^>rll
U,>»l)8
2)1,013
"V
15,8'W
X3,3«S
»I969
-5,565
-17,327
-ll,5«3
W,053
27,926
21,050
26,725
-8,633
-7,287
-12,672
27, 6M*
61,752
-31*,
108
.
.
Naroh
Job*
J«3jr
19,893
13,763
ia«aat...,
SaptoBbor.
Oototer...
-ii.oHg
-13,620
-6,816
30,S5i»
1,11*2,923
316,660
600,693
aw, 626
57,196
1.119,905
751,086
-85,1*27
-2l*5,062
582,9>*6
2,083,698
2,028,755
-269, 7U3
1,U6,322
-25,839
378,971*
533, '»73
-I5i*,i*99
12,1*25,01*9
12,115,021*
310,025
19,070
32,7'H
30,809
>t9,222
56,171
-152
-21,698
-25,362
-18,238
-5.102
-15,673
2, 1935-Oot. 31, 19U7)
Total (Jan.
986,021*
V«t doneetio
•tooka and
toonda
-261,955
1*6. 599
27,767
210,735
-113,105
-336,203
25,70U
70,71*1*
2i*5,3li*
357,655
2,273,381
1,200,119
1,031*, U78
506,022
total
•aleo
320,991
260,601
392,938
650,611
637, 9'W
782,119
138,511*
170,555
268,264
393,390
636,213
lotal
pnrohaBes
10,897
13.296
26,37'*
16,1162
3H.988
-U,078
-18,5W
ll,79«
7,9'i9
002
-.171
639!
139,676
211*,
751,01*5
57, '•39
2,381*
87,833
S^Sgl
38,193
33,l6«
67,700
35,809
51,3«6
52,802
20,555
10,753
16,550
19,368
26,762
27,701
1,207
-16,009
-11,151
39,«6«
26,516
30,603
67,27'*
56, '•26
-7,626
-23,296
-23,823
2U,702
19,380
5,322
52,31*6
81,132
-28,786
18,
an
67,812
lot arallable.
a.a.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In tlioueaada of dollara)
Oalaadar Tear
or Boatli
lorelga atoeka
Forohaaoa
Salaa
(Jaa.
2, 1935-JaB.
1, I936)
(Jaa.
2, 1936-n»o. 30, 1936)
(Dae. 31, 1936-l>a«. 29, 1937)
(IIbo. 30, 1937-aao. 28, 1938)
(Iloo. 29, 1938-Jaa.
3, i960)
(*«a.
6, 1960-Boo. 31, 19'tO)
a.a.
n.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
ilS:;:::::::;::::::::::::::;::::::
a.a.
a.a.
23,278
26,601
^its
1966
1935
1936
1937
1938
1939
i960
19'H
19I2
191*7
1-Oct. 31, 191*7)
(Jan.
Total (Jan.
2,
191*7 -January
.
at
B.a.
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
65.217
19,791
22,078
51,789
65,610
-363
1*8,722
35,725
12,997
,1»7
.
.
^rotaaaoa
a.a.
a.a.
a.a.
a.a.
a.a.
5,718
10.271
5,1*28
536,098
705,073
719,180
156,051
115,567
127,133
125,158
191,076
267,008
26,758
115,68?
78,156
a.a.
a.a.
116,367
311,262
318,113
755,936
a.a.
372,158
225,289
317,269
185,261
220,533
169,665
355,111
821,183
133,558
227,897
391,969
267,367
102,058
556,056
51,703
-7,361
77,696
190,116
a.a.
a.a,
71,209
88,973
-29,156
265,190
595,777
603,032
-7,255
1*99
638,757
5,712
6,860,352
5,616,721*
1,213,628
76,052
26,605
137,368
28,717
70,270
-78,335
52.733
81,110
71,126
53,159
23,891
36,815
36,275
57,516
85,191
79,350
57,236
26,117
10,281
39,910
59,017
39.06?
17,321
265,701
l1,7gU
19,379
33,623
270,069
17,358
28,020
-220,690
16,265
21,600
-220,055
15,271
37, 008 r
19,809
13,660
37,281
23,952
13,329
2,553
1,368
2,571
3,120
-635
991
-278
15,616
30.05s
6l,608r
October.
3,812
1,113
-331
33,169
Hot available,
fievlsed.
265,127
96,875
59,033
81,180
I8J62
Soptem^er
lagut...
61*1*,
68,588
-81,366
50,595
1,682
6,031
2,138
3,635
J«l7
31*0,863
22,569
133,128
25,157
1,036
1,260
3,290
3,1*66
lot foreign
etooka and
boada
661,256
896,119
1,016,188
182,809
561,236
205,289
3,733
3,565
3,ll2
Jona
Total
aalea
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
1,501
1,158
110
*V
at
Total
porohaaaa
a.a.
a.a.
a.a.
a.a.
a.a.
a.a.
1,051
1,921
1,075
i|>rll
Salaa
n.a.
1935-Oet. 31, 191*7)
'o1>ruai7.
Narah.
Jorolgn boada
l6,88l
61,750r
36,730r
Treasury Bulletin
50
CAPITAL MOVEMENTS.
Section
II
-
Summary by Countries
Table 1.- Net Movement of Capital and of Short-Term Banking Funds
(In thouiuds of dollars; nvcfttlvc flfur** Indlcato * o«t ousflew of caplt*! frca
ti.o
lot capital aovaaoot
Count rjr
turopgi
Unl tad Ilnedoa
-ll.SkZ
-12, l"*?
70,1*20
-8,620
Balflxai
Danaark.
riBland.
-1,003
-6,352
12,633
-5,096
-2,262
5,729
Oraaca
Ilalj
Luxeabcurc.
-2,103
-22,966
-9*
-17,'»70
Vattarlandi.
-3^,97'»
lorvasr
-11,618
-128
-16,228
-9,719
-10,033
-3,177
-H23
-5,628
-570
-21,010
Oaf«ajgr.
Portugal..
..
tuaacla.
Spain...
Soadan..
Solttarland
U.
S.
S.
S
YufoslaTla
Ott.ar furopa
Total Zuropa.
Latin Aaarlca
Arernttaa.
Bolivia...
Chtli
Coloabla. ..
Coata (Ilea,
-1,7'»9
'tO,35«
Matherlacdi Vest Indlea and
Surtoaa
Panaaa
Paru
-1,615
-5,006
3,236
Veoaiuela
OtLcr LctlD Aaerlca.
-6,636
18,155
Total Latin Aaorlca.
-U6,109
:
India, Bursa, and Oaylon.
Britlih Kalaja
Japan
lattorlande laat India*.
Philippine lalanda
Turkaj
Other Aala
-1»^,567
2,0>I8
3,008
-,719
1,551
-838
-7,886
-7,355
-8,579
-5,053
-69,390
Total /Ula
Other countrlei
Australia
New Z eal and
Sorpt and Anelo-Kfirptlan Sudan.
i
1.915
-182
1,505
-999
French Morocco
Union of South Africa.
Al 1 other
-13.6U3
Total other countrlae.
-9. "WO
1/
International
Oaldentlflad.
Orand total.
-5,319
160
-10,32't
-12,191
261
-883
.
-67
-Us, 702
-8.H37
-*,277
-1,070
Chloa and Maachurla.
French lodo-Chloa.
Hong lone
-36lt
-257,8U2
Cuba
7r«nch Wait Indlet and Quia
Marlco
Aala
-5,396
3.027
-9,559
-2,««9
-6,213
27,'W3
-1,936
-53,195
BratU
Short-tara banking fundi
19''7
July
Franca
UoJlod Statcc)
2,00>>
*u»i«t
ig"*?
Baptaabar Oetabar
Jnna
*ilj
^Mitttat
Saptaabar
OBtotar
March 1948
51
CAPITAL MOVEMENTS.
Section II
-
Summary by Countries
Table 2,- Net Movement In Brokerage Balances and Long-Term Security Transactions by Forelgnere
(Id.
thousands of dollars; negative
figiu-E
Treasury Bulletin
52
CAPITAL MOVEMENTS
Section
Summary by Countries
-
II
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Fotltloo at
«ncl
of aoath In thousands of dollfxs)
LlaMlltlai
Clalat
l9fJ
Couatrr
Jaly
fta»
lurope i
Doited lln^OB.
franct.
Belclua.
39, S"*
_i2ki
*i^st
36,905
3"»,069
20,090
21, '•37
8,M5
10,12lt
9,ooU
20,921
10,250
583
U,381
592
17,8l«
Ovrsaajr.
378
9.097
30,3Z3
30,3'w
30,
Qr*«ea
Italy
luxeabourc.
12,980
23,832
65
12,889
13,005
Vet bar lands
39,25^
5.913
^,0lt2
6,322
Portu^sal
i,a2
l,5i'»
A»«ala.
6,992
6,923
I'fito
'».327
7,'»7i
IWaaark.
Flolaad.
Borvay
Spain
.
.
9m dan..
Svltterland.
S. S. H...
306
Canada
29,198
22,112
11,232
33,059
17,569
13,173
617
17,499
958
13,129
30,478
30,3li5
12.551
23,587
52
''%
'•5,93'<
>tb,SJt
12.360
7,981
1,25'^
9,365
1,155
11,876
1,598
12,02U
1,3U8
9,320
12,026
1.195
9.324
12,027
1,254
9,306
9.8O6
6,443
8,68l»
10.1'
3
9.339
102
8
8
8
38
8
26,296
37,1*73
36,231
32,646
30,556
2i4i»,i3o
267,951
278,871
27'»,027
268,637
265,964
36,829
36,383
3U,oi*7
32.161
29,118
60,7t6
57,622
3,561
160,854
65.833
3,269
.164,070
71.82l»
17,385
20, '•92
>IO,25ll
35,719
3,853
5. 29'*
150,208
Chlla
Colosbja.
Costa aica.
20,297
36,390
3,5«7
Ouba
nrench Vsst ladlas and Oulana.
Kaxleo
60,091
83
n
3,937
'•5,981
65,484
3,410
3,167
163,577
161, 426
22.738
35.212
3.810
21,684
35,927
3,631
53,269
5«9
27,609
5'»,519
59,669
50
30,996
30,180
3'»,753
251
32,869
l.OUU
2,091
7.552
97'*
1,033
l,llt9
2,581
5,600
2,7'^2
3,777
6,286
Venezuela
Other Latin America.
19,160
36,685
16,720
36,261
18,2>»3
lS,li«9
•2,317
36,181
15,322
38,299
Total Latin Aaerlcs.
"•37.981
'•2'^,850
'•'•'•,939
"•51,775
447,674
China and Manchuria.
iVench Indo-Chlna.
Hone ^ng
76,131
22
3.503
10U,8lt2
77
3,531
110,726
62
3.123
108,180
329
3,071
103,742
3,233
2,138
India, Bunsa, and Cegrlon.
British KalaTa
Japan
13,203
32,797
2.178
183
33,662
1,579
261
27,'*5't
27,487
843
275
;
Katharlonda Vest Indies and
Surinaii
Panaffla
Peru
c
5,901
1,107
4,943
6,548
Aalai
.
Setherlanda last Indlns.
Fhlli;>plme Islands
Turkey
Other Asia
Total Asia
Other countrles l
Australia
lew Zealand
I^pt
and Ando-£o'ptlen Sudan.
French Morocco
Union of South Africa.
All other
Total other countries.
Internatlonol
Unidentified.
Oriuid total.
40
7,023
1,332
!
.
12,829
24,940
'W.573
10.275
1.309
'•7,239
5
Total Surspe.
OfltoWr
8
35,373
8
.
Other &irope
Latin Aaerica
Argentina. .
BollTla
Bratll
2fc,093
7,812
U.
Tu^alsTla.
3W
"•37
17,906
30,}U5
S«pt—b«r
1.595
268
•78
8,360
725
24,525
5,576
8,957
185, 0U7
177,679
177,501
9,03H
989
250
11,256
1,681
180
9,00l»
l,l^6l
10,154
1,404
152
73'«
<09
18,936
5,635
88
15.170
»,539
1U6
18,790
3,778
310
15,783
l4 962
1».228
5,900
33,586
30,070
35,831
30,938
33,488
>K>8
lUiO
•6lt
716
880,205
933,025
979.199
967,296
1,'»75
'•80
23.161
2,683
5,790
20,153
3.316
5,77'»
508
25,130
3,2U8
6,71^
127,271
173,331
6,610
1,600
396
2l*,U86
3, '•58
y
33'«
,
J!s_
Joat
J«^
iigiit
3»pfbr
Oetofcer
March 194S
53
CAPITAL MOVEMENTS
Section
II
-
Summary by Countries
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
(Poiltlon at end of oonth la thouaandi of dollari)
Country
Treasury Bulletin
5'*
CAPITAL MOVEMENTS.
Section III
-
Details for Month of October 1947
Table 1.- Short-Tera Claims on Foreigners
March 1948
55
CAPITAL MOVEMENTS
Section III
-
Details for* Month of October 1947
Table 2.- Short-Term Liabilities to Foreigners
(Position at end of month In thousands of dollars)
Short-term liabilities payable in dollars
Total
short
tern
Country
Ebposita
of
foreigners
liaMlitioB
Europe
United Kingdom.
Prance
Belgium
Bills held
for
account of
foreigners
:
336,309
268 63U
135.702
311 850
267,756
135,558
Ug,880
39,220
1*8,865
1*8,366
39
7'*,93b
39,220
71*, 920
1*8,517
11*6,610
1*8,515
11*6,605
.
Denmark.
Finland.
Oermajiy
Greece
Italy
292
771*
21*7,356
126,1*99
.
181*
72,850
1*8,251
132,168
17,863
1,621
2,729
337
311
3b
24
263
1,279
Luxembourg.
19.213
19,213
Netherlands.
Norway
Portugal.
172,833
76,197
172,75s
76,171
l6l,l*85
1*7,798
1*7,781*
1*7,358
2,027
312
421
.
.
Bumania.
Spain
Sweden
. .
.
Switzerland.
U. S. S. S.
65,167
2
8,71*1*
8,71*1*
10,122
86,535
10,029
86,279
8,697
9,807
83,381
47
165
1,109
1*05, gl*l
i*oi*,l*55
383, bOi*
6,012
111
54,109
9,359
111
Yugoslavia.
Other Burope.
9,371
130,811
9,371
130,731
lgi*,27l*
2
10
100
Total Europe.
2,131,231*
2,102,935
1.972,552
16,807
1*27,139
1*23,017
297,9^5
2,789
21*5,671
21*5,61*7
21*1
528
3,325
22,377
102,631
22,377
102,580
22.377
87,152
12.300
38,308
39,119
7,935
38,301*
36,1*1*1
39,116
7,922
38.366
7,006
1,863
397
916
256,557
256,1*62
21*6,527
9,900
61*,
..
.
.
Canada
Latin America:
Argentina.
BollTia
Brazil
.
.
Chile
Colombia.
Costa filCB.
.
.
Cuba
French West Indies and
Gul ana
Mexico
Netherlands West Indies
and Suri nam
Panama
Peru .•
61*,
2,1*99
2,1*99
2.1*99
lUs,6s6
11*8,090
147,226
838
li*,652
ll*,652
72,637
14,575
59,349
40,462
71
35
1*0,917
72,631*
1*0,912
Venezuela
Other Latin America.
73,1*20
171,1*55
73,1*11
171,01*7
Total Latin America.
1,236.861*
1,235.653
263.259
8,b85
.
.
,
425
l''9,735
4I0
2,601
166 244
33,081
133,218
7,553
38,411
1,986
1*3,61*1
262,853
8,685
39.387
982
53,31*0
12,391*
50,213
9,003
24 994
,
3,039
777
490
50,953
467 294
32,737
76,784
118
2,317
6,958
932
94i 190
17,160
40,797
6,339
2,093
73,001
1
,
.
Asia:
Chi na and Manchurl a
French Indo-China.
Hong Kong
.
India, Burma, and Ceylon
British Malaya
Japan
51*,
25,517
12,361
25,506
Netherlands last Indies.
Philippine Islands
Turkey
Other Asia
59,687
59,686
1*70,855
39,71*5
1*70,855
39,7l»5
Total Asia
77,900
1,056,665
Other countries:
Australia
New Zealand
Egypt and Anglo-I^ptian
Sudan
French Morocco
Union of South Africa.
All other
Total other countries.
International
y
1*3,801*
77,877
1,050,295'
1*71*
1*3
,
,
6,U78
6,390
25.813
25,61*5
25,215
11,1*17
1*3,271
11,1*12
1*1,561*
918
53,613
11,360
23,352
53,020
50
75
196
2,686
51*,
185,701
182,098
160,583
2.1*90,817
2,1*90,817
338,413
.
18,b78
18 678
18,659
Grand total..
7.51*7,098
7,503,1*93
4.895,586
Unidentified
1
542
,
51
Government
Treasury bills
and certificates of indebtedness
U.
S,
Short-tem liabilities payable in foreign eorrencles
Borrowed
from
foreign
banks
Liabilities on
acceptances made
by foreigners for
a/c of reporting
banks and bonkers
Treasury Bulletin
56
CAPITAL MOVEMENTS
Section III
Details for Month of October 1047
-
Table 3.- Purchaaea and Salea of Long-Term Securltlea by Foreigners
(Ib thouiandi of dolI«rt)
^
nirehA««t
Total
porehattt
Count r7
Torat^ aacurltloa
IbaAitlc loeurltl**
Total
Stoeka
Salaa by foraignara
for*lcB«ri
Bonda
Ibral(D aaeuritlat
Sbaeatle aaeorltlaa
Total
aalaa
Bond*
Total
Stoeka
.292
211
U32
2,187
161
278
"10
i,7n
10, "00
7
15"
23"
278
Stoekl
Booda
Total
Stooka
Bondt
5,82"
26,927
1.317
5,139
25,006
99"
685
1,921
323
"576
27,50"
1.768
2"9
131
70
61
118
lis
5
6
6
1
5
102
656
81
100
500
75
156
o
2
51
11
50
11
6, "53
Total
Buropa:
6,97"
l.Olh
1,150
t.787
853
872
3.'»95
Dtnaark.
fl aland.
Oarvaof.
379
?6
6
101
101
Oraaoa .....
Italy
62
519
130
62
509
123
267
117
2ll2
10
10
6
7
5
10"
707
92
1,368
1,175
258
138
865
139
88
310
119
50
193
uoo
25
150
390
16
9,253
66s
203
7,598
361
90
91
65
85
50
8U
50
6
15
6
15
19
178
8
61
13,131
11,521
9,327
1.C39
15,359
9,897
113
96
79
17
",112
66,623
53,155
"5.2"2
Dal ted Ilo«do
fraaca
Belgiua
luxaabovc.
lalharlandi.
lorwqr
Portugal. ..
.
BuaaaJa.
Spain...
Swadas.
SwlttarlaBd..
S. B.
,.
Tufoalana.
..
0. S.
6it2
hUo
It"
278
26
5
1
""1
96
12"
"135
"81
327
26
62
2,19''
577
"51
1,610
571
16
1
l,l"5
50
1,655
307
7
11
U3
33
11
7
5"
7
117
117
6,373
3,52"
5. "62
6"5
".817
7,913
13, "68
1,671
11.797
311
79
8
319
1,336
300
80
Othar ^iropa.
abi
218
177
Ul
23
Total ^tropa.
25,977
20,753
lb, 855
",898
5,2?"
2l»
ltl40
13,725
3,065
10.660
10,715
2.037
8,678
20,853
1",700
",395
10,305
6,153
1.88"
",269
9,917
1,030
U8
8U7
U8
321
183
8,887
130
8,757
2, "12
821
796
25
1.591
102
l."89
5
5
5
21
517
505
"80
325
298
27
155
13
1"2
U32
83
10
27
6
32"
298
19
289
19
9
26
5
21
8
262
186
Canada.
Latin toarlea;
Argaotlna.
BollTla
Braill
.
CMla
Coleabta.
Cotta Ilea.
.
Onba
franeh Vaat Indiet and
Qui ana
Maxteo
859
31*2
U69
IU5
16
Ult2
3,806
3,303
83
16
12
62
27
11
16
1,021
2,282
503
137
115
9"
366
, 5
Batherlandt Vast Indlai
and Sorlnaa
Panaaa
Fan
6,870
6,755
690
6,065
159
i,6ao
i?i
1,566
159
1,399
55
167
121
8
11
1
10
1,879
l."31
1.135
296
"U8
2.689
2,
660
2,268
392
29
2,166
223
15
2,075
156
2,01*
99
31
57
91
67
16
50
66
17
17
1
"8
3
^
Teneruela
Othsr Utla iMrlea.
319
10,870
168
9,182
3.O6U
"21
1.33"
1"
17
2
9,350
"35
1,351
7
l,'t55
U
65
9
1,520
1,713
117
1.596
Total Latin Aaarlca.
35.22U
15,709
6,8>>6
8.863
19,515
628
18,887
13.7"o
9,602
8,72"
878
"138
569
3.569
l,U3l
1,397
1,1U5
252
3"
15
19
8?6
826
635
191
187
187
187
20"
203
152
51
Wt
29
U
18
29
11"
3"
10
21
3"
21
3"
93
29
3
3
7
16
68
5
l"6
15
51
15
51
17
319
A«la:
China and Manchuria.
Pronch Indo-Chlna. ..
Bon^ Zaag
India. Boraa, and Cagrlon
Brltlih
Japan
Kal^a
Batharlonda last Indlat.
Philippine lel&nda
Turkey
Other Aala
Total iala
Other countrlee
lustralla
Mm-t Zealand
l^pt
lU
111
6
203
26
26
18
U
8
92
92
6
6
iie_
-is.
_15I_
2.029
1.911
1,638
1,739
U
106
U
106
U
60
59
59
1
5
A21
1?
-111
91
l,"23
1,291
1.028
1.633
1,625
10"
9
103
103
1
1
11
9
273
1
263
132
19,580
23.952
113
:
and Aaclo-X^ptlan
3ujan
Prench Morocco
Union of South ikfrlea...
All othar
Total other cmnirlai
.
67
1
I
66
66
18
103
2,200
2,165
80
2,165
1.957
2U8
2ltO
1,709
1,701
2. ""5
2.38"
2.363
89,627
52,3'»6
27,oUU
33, "69
105,08"
81. 132
61,752
9
78
9
78
70
9
6
98
tlonal..
Orand total.
1/
?".702
57. 281
3.812
Include* truiflactlons of International orfanl zAtlone luch at UKBBA, International Monetary ^ind, end Interactional Bank.
".l"3
19,809
March 1948
57
CAPITAL MOVEMENTS.
Section IV
-
Position In Foreign Currencies, by Countries
Table 1.- Net Position, and Current Transactions
(In tbousande of dollare; negatlT* figures indicate short position)
Currency of
-
Treasury Bulletin
5«
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Data relating to oorporatlone In whloh the
States has
a
United
proprietary Interest, direct or Indirect,
and to certain other buelneae-type activities of the
flection I
Government are presented In thi*ee sections.
contains balance sheet data; Section II, data on Income
and expense; and Section III, data on source and appliThe data In Section I are compiled
cation of funds.
Section II
-
from the mldmonth "Dally Treasury Statement".
The data
in Sections II and III are obtained from reports of the
corporations and certain other buslnese-type activities,
adjusted
June
30.
by
the
19^7,
Section
Treasury Department.
was
published
In
the
January
"Treasury Bulletin".
Income and Expense for the Twelve Months Qrided June 30,
1M7
Table 1.- Summary
(la thouBuiAt of dttllara)
Cark&ls ethar
fotal
Oorpor«(lom«
>u«la*i«-tjrp«
•OttTltl*!
SalsB of eoiHodltiea and nipplloa
Bmlta of Borrloe*
B«nt« and royaitloa
Intaroat aad dlridandat
IntaroBt on loans
Intarest on public dabt obllgatlona
Interett, other
DlTldaadt
Onar antj and 1 nauranoe praalima
Othar iBcoAai
4alna on lala of flzod aaaeta
dalna en aala of InTeatBenta
&aina on aala of ae([alrad aecorltj or aollateral
Other
3, 475,861*
281.253
39.961
15.032
5,722
195,828
137,675
37.oi«
11,038
5,6«4
155.853
33.»»79
f otal Ineoae
5,150,023
Total expenae
•t
incove (or loaa[ -]) ^fore adjaataeat of Taluatloa and
aad operatifif reaarrea
Idjaataenta of Talnation and operatiag reaerreai
Reaerre for loasea on loaaa
Beaerre for losaes on acquired aecurltjr or collateral
fieaerre for losaaa on fixed aaaeta
fieeerre for lostea 00 comodltlea and enppliea
Operating reaerrea
Other reaerree
let adjuataeat of Taluatloa and operating reaerrea
incoBa (or loaa[
73.341
65.76U
513
7,927
1,038
Ixpenae:
Coat of comodltlea and aappllea aold
Direct operating ooata
latereat a^:>en8e:
Ob borrovln^a froa U. S. Treaaury
Other
IdalnlatratlTe oxpenaea
Stopraalatfon (not Included in coat of aalea or dlreot
operating coata)
Oranta, anbaldlea and contribtitioaal
Direct
Indl rect
Ooaranty and Inanrance loaeea
Other expeaaaa
Loaaea and oharge-offoi
Loaaa charf^d off
Other aeset s oharged off
I«SBe> OB sale of fixed aaaeta
Loatea oa aala of InTeataenta
loeeea on sale of acquired aecurlt^ or oollateral
Direct ohargea to operating reaerTea
Other
at
913.206
176,330
-])
Chaajtea la nnreaerred earned eorplaa (or deficit C-] )'
Unreeerred earned aurplaa (or deficit [-1 ), Jane 30, 1946.
Het incoae (or loaaC-1 ) for the twelve aontha ended
Jane 30, 19^7
Tranafera to [ -J enrplua reaerrea
tranafera froa aurplaa reaerrea
Dlatrttoution of jarofitai
To Oeoeral Pkmd roTenuea - depoalt of earning
DlTl danda
Other
Prior year adjuataenta
UnreBerred earned aorplue (or deficit ^-1 ), Jane 30,
footaotea at and of Section
HI.
19''*7'
298
7,459
152
32,981
I
for
19^
March 1948
59
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section II - Income and Expense for the TnelTe Months Ended June 30, 1947
Table 2.- Corporations
(In thoasanda of dollarB)
SzaontlT*
Office of
the Preallent
Of floe for
barge noj
Mana^eaeat
total
Saaller Var
Planta
Oorpo ration^
(is U<{Bldatlsn)
InooBel
Sales of coBaoditlei and sappliea
Sales of aerrloes
Benta and royalties
Interest and dlTldends:
Interest on loans
Interest on public debt obligations
Interest, other
lIlTldsnds
Ouaranty and Insuranoe prealUBa
Other Inoomet
Oaina on sale of fixed assets
Oalns on sale of InTeetments
Gains on sale of acquired saonrlty or oollateoral
Other
Total Income
Iipense
Cost of eosuBodltles and supplies sold
Direct operating costs
Interest ezpensel
On borrovin^ from the U, S. Treasury
Other
AdmlnlatratlTe expanses.
Ssprsoiation (not inoluded in cost of sales or direct
operating costs)
Orants, subsidies and contributions!
Direct
Indirect
Ouaranty and insurance losses
.....^
Other expenses
Losses and charge-offs:
leans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or collateral...
.*.
Direct charges to operating reserres
Other
3,1*75, a*"*
Separtmeat of i^loultara
(oontlmed on following pace)
Oonodltj
Credit
Oorporatlo>
foTB Credit idnlnletratlon
(contlmted on follevln^ pa^e)^
laaka
for ooepar-
Tadaral
Intervedlata
credit banks
4,846
990
5,307
1,045
8,303,277
73, Jill
65,7S>»
368
137,675
37,018
11,038
5,68U
155,853
1,906
3,64i
298
7.'*59
379
158
3a, 981
5,163
145
29
U, 002, 526
2,314,360
6.360
6,387
3,395,5^
2,262,933
1,958
4,246
7,619
724
1,367
3,508
1,584
9,758
1,212
22
110, 6U0
-12,982
:
Total expense
Set incoae (or loss
103,670
15,676
gO.ltUe
81
64,323
98,593
2,939
23,485
73
6u
31,989
326,978
211,655
49s
U73
18,515
791
18,128
375
U,5lU,72l»
2,939
2,308,077
-512,199
-2,939
6,282
4.242
-11,367
-1S9
-15
5,165
C- 3) before adjustment of Taluation and
operating reserres
Adjustments of Taluation and operating reserres:
Besarre for losses on loans
Baserre for losses on acquired security or collateral...
Eeserre for losses on fixed assets
Beserre for losses on commodities and supplies
Operating reserres
Other reserres
Het adjustment of Taluation and operating reserres
Hat income (or loss
U5,68»
[-]}
Changes in unreserrad earned surplus (or deficit C - ] )'.
TJnrosarTed earned surplus (or defidt'C-J ), J*ne 30, 19^
Het income (or lossQ-^ ) for the twalTe months ended
Jane 30, igUy
Transfers to [- J sorplus reserres
Transfers from surplus reserves
Distribution of profits:
To Oeneral IWl reTenues - deposit of earninga
DlTldends
Other
Prior year adjustments
17nreserTed earned surplus (or dafioltf-J ), June 30, 19^7
Footnotes at and of Section III.
17,810
3,266
,189,940
-24,698
234,957
106, 714
-25,300
235,109
-996
197,445
-192
-2,939
203,727
4,050
1,223
-37,070
-2,149,836 r
30,036
23,286
4,050
-675
1,223
-335
33,411
23,953
-3,851,891
-4,364,089
-7,126,501 p
-4,364,089
-216,545
4,388
-2,939
203,727
-12,587
-3,117
-11,327,019
-40,008
(Oonttmied on folloving paga)
-1,946,109~
.
Treasury Bulletin
60
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section II
-
Income and Expense for the Twelve Months E^ded Juns 30,
Table 2.- Corporations
-
1M7
(Continued)
(Xn thoutAnds of dollart)
I»parta<Bt of i^rioolturo - (oontlsaoA)
foTB Orodlt AdffllalotratloB
- (coBtlnaod}
^
Soglonal
ifrleultvral
Orodlt
ooi*por*tlono Oorporotloa of
Frodaotlon
orodlt
Todoral
Tmim
Mortgaco
Oorporatloa
rodoral
Crop
Inooraaoo
Oorporatlom
Vashl^ton, S.O
Inooaot
Salot of ooaaodltloo and oitpplloo
8al«t of ••rrloot
38.291
B«att and royaltloo
Xntorott and dlrldondoi
Intoroit on loaaa
Intorott on pabllo dobt obll^atlona
Intoroit, othar
I&Tl doDda
Oaaraatjr and Inouranco proalaat
Other lacoBoi
Oaino on oalo of flzad aaooto
Oalao on talo of Inrsitaonto
Oalni on oalo of aoqalrod toourltj or oollateral
Othar
fotal InooBO
tipano
Coot of ooBBodltleo and rappllai iold
Direct operating ooete
Intereit arpensot
Oa borrowing froa U. S. Traaeuxr
Othar
AdalnlotratlTo oxponooi
Qopreclatlon (not Ineladod In floit of oalaior dlraot
oporatlac ooott)
Orante, nboldiao and oontrltetlonai
Direct
Indirect
Oaaranty and inoorance loaiaa
Other oxpensoi
Loseet and charge-offi:
Loan* oharged off
Other aoaet a ohargod off
Loaaoe on ealo of fixed aaaeta
X«aaea ea aala of laTeataeota
.
<
123
7,708
1,7*
3
a
530
loa
30
2,3«5
152
1,S8Z
179
13
105
»,0l6
aiv
363
5
Loaaea on aala of aeqoired aecurlt/or oollateral
Direct ohargea to operatinc reaerreo
Other
Total expanaa.
let IncoBo (or
l,79fi
555
U,i3li
569
-l»03
"•.133
218
1,771
185
losaC-D^oforo adjaatment of Taluatlon
and operating reaerrea
,
of Talnatlon and operating reaerreai
for loaaea oa loaca
for losaee on aocpilred aecurltj or collateral
for loaaea on fixed aauta
fieaerre for loaaea on cooBodltlea and aappllea
Operating reaerrea
Other reaerrea
idjnataonta
Baaorre
Baaerro
Baaerre
-hi
Hot adjuataent of Taluatlon and operating reaerrea..
let Inecae
(or looe
[^•j
)
^
Changeoaa In uareaerT»d earned i cLrpluB (or deficit f- l )•
plna (or deflcltOl), JtineJO^igUfi
(fan'••rred aArnad nrvi
l«t laeoaa (or lo««[- j)
J for the twelTe aontha ended
•
r
Jtui* 30,
1^7
Traoafari to[-J«Tirpltia retarrea
TranBfari froa faurplua raaarrai
SlatrlbutloQ of proflta:
To Qvnaral Ttind reTamiea - dapotlt of ••mln^
01
da&da
Othar
,
Prior jaar adJuatBanta
Oaraaarrad aarued aurplui (or daf lei t[ -J), •Tune 30,19^7
176
1.955
569
-227
6,088
15.55*
-7, "183
99,3^
569
-227
6.088
-7.710
105 *37
n
Tootnotea at and of Section
HI.
^6.1g7
(Continued on following page)
Aopartaoat of Ooaaoroo
Todoral
lalaad Vaterwayo OorporatloB
and «uboldlax7
8ax-plQi
OoaBOdltlo*
OorporatloB
(11 <I«1 dated)
Inland
Wfttorvaaro
Corporation
Warrior Uror
foralaal
Coapaoj.
Ib0.
i
.
March 1948
61
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIESSection II - Income and Expense for the Twelve Months Ended June 30, 1947
Table 2«- Corporations
-
(Continued)
(In thousauda of dollarG)
Department
of Interior
The
Virgin
Islesda
Company
Income
Salea of commodities and supplies
Sales of eervlcea
Bents and royalties
Interest and dividends:
Interest on loans
Interest on pulilic debt ohligstlona
Interest, other
Dlvi dends
Ouarant/ and inaurance prenluma
Other Income:
Gains on sale of fixed assets
pain a on sale of Investments
Gains, on sale of acquired security or collateral.
Other
Total income.
Jipenae:
Cost of commodities and supplies sold
Direct operating costs
Interest eicpense:
On borrowings from the U, S. Treasury
Other
AdiDlnlstrative expenses
Depreciation (not Included in cost of sales or direct
operating costa)
Grants, subsldiee and contributions:
Direct
Indirect
Guaranty and Inaurance losaee
Other expenses
Losses and charge offa:
Loans charged off
Other asseta charged off
Losses on sale of fixed assets
Losses on sale of lavestments
Losses on sale of acquired security or collateral..
Direct charges to operating reserves
Other
Total expense.
Net income (or loss [-
J
)
War
Depart ED en t
Departtcent
of tJttstlce
United
States
Departnent of
State
federal
PrlBon
IndUB-
Spmce
Production
Corporation 2/
(liquidated)
2/
trlea, Inc.
693
Federal
DepoBlt
Inenrance
Corporation
11,995
13
32,151
3
21*,
917
179
111,686
2
11
59
63
788
12,057
752
lt3
683
9.68,
56
16
6,156
158
263
32,309
ll*3,20ll
llU
1,300
^6
15
19
721*
5,083
3
7,UlO
81
91
561
936
50
317
902
10,683
8,691*
-115
1,375
-8,638
6,1127
15
before adjustment of Taluatlonand
operating reserves
Adjustments of valuation and operating reserves!
Heserve for losses on loans
Beserve for losses on acquired security or. collateral.
Heaerve for losses on fixed asseta
Beserve for losses on commodities and supplies
Operating reserves
Other reserves
Net adjustment of valuation and operating reserves.
Net income (or loss C~ ]
IxportImport
Bank of
Washington
)
Change a la unresarveA earned surplus (or deficit Q-j ) :
Unreserved earned surplus (or deficit[^-3), June 30, I9U6
Net Income (or loss^-j) for the twelve months ended
June 30 I9U7
Transfers to [ -] surplus reserves
Transfers from surplus reserves
Distribution of profits:
To General Pond revenues - deposit of earnings...
Dividends
Other
Prior year adjustments
Unreserved earned surplus (or deficit C"! ), June 30,19^7
,
Footnotes at end of Section III.
-115
-12 r
-115
l,38U
13,683
1,38U
-8,638
-57,72'* r
-8,638
30,281
136,777
26,1*66
1,081
2,990
26,1*66
i*,07i
56,7'»7
11*0,81*8
91*
5,282
2
56,71*7
-62,029
11*0,81*8
-11*0,91*2
75
•
-l»,913
-1331a'
-127
10,153
_2i.
-66,339
(Continued on following page)
9U
37
Treasury Bulletin
62
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section II
-
Income and Expense for the Twelve Months Ended June 30,
Table 2«- Oorporatlons
-
1M7
(Continued)
(In thouaandi of dollart)
Tedaral Loan A^eno/
B«coii8tractlon Tlnance Corporation and certain affiliates
CorporatlOB
IxoluslTe
of HMrged
war
afflUatefl
Incoae:
Sales of conB»dltle8 and supplies
Sales of serrlces
Bents and rojaltles
Interest and dlrldendsi
Interest on loans
Interest on pablle debt obligations
Interest, other
^ ..
IHtI dends
Ooaranty and iosuranee preminns
Other income:
Gains on sale of fixed assets
Oalns on sale of InTeataents
Oalns on sale of acquired security or collateral...
1,065,655
1U,603
5a,98U
>*£,598
632
5.3U«
3.67U
11,301
Total AnooB*
67,682
.
,
Total expense
Bet incone (or loss C- 3) before adjustsent of Tsluatlon and
operating reserves
Adjustments of Taluatlon and operating reserrea:
Beserre for losses on loans
Beserve for losses on acquired security or collateral..
Beserre for losses on fixed assets
Beserve for losses on conniodlties and supplies
Operating reserves
Other reserves
Vet adjustaent of valuation and operating reserves
Vet incona (or loss
Z.-'] )
Changes in unreserved earned surplus (or deficit
Q-^)
*
Thureserved earned turplue (or deficit C- ] ), *^in6 30,19^
Het lncooe(or loss C- 3 ) for the twelve months ended
June 30, 19^7
Transfers to Q - ] surplus reserves
Transfers from surplus reserves
Distribution of profits:
To General ^Und ravemies - deposit of earnings
Dividends
ftther
Prior year adjustments
Vareserved earned surplus (or deficit f-^
7ootttOtes at end of Section III.
),
Jnna 30,19^7
861
1,016
Other
Iipansa:
Cost of coanoditiea and supplies sold
Direct operating coats
Interest expense:
On borroirings froD U. S. Treasury
Other
AdminlstratlTe expenses
Depreciation (not included in cost of sales or direct
operating costs)
Orants, subsidies and contributions:
Direct
Indirect
Quaranty and insurance losses
Other expenses
Losses and charge-off s:
Loans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of inrestmeats
Losses on sale of acquired security or collateral..
Direct charges to operating reserree
Other
Merced
var
affiliates
7,363
federal
latlonal
Mortgage
laeoclatloa
The &yc
Mortgage
Oofflpanj
U. 8.
Oonaerolal
Co Dp any
Var
Ihna^e
Corporation
(in liquidation)
:
.
March 1948
63
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section II
-
Income and Expense for the Twelve Months E^ded June 30t 1947
Table 2,- Corporations
-
(Continued)
(in thousands of dollara)
national Housing Agency
Federal Home Loan
Bank Adminletratlon
federal
home
loan
hanks
Federal
Sarlngs
and Loan
Insurance
Corporation
Federal Puhllc Housing
Authority and affiliate
Home
Ovmers'
Loan
Corporation
Federal
Public
Housing
Authority
Befenee
Homes
Corporation
Panama
Ballroad
Coinpany
Tenneesee
Valley
Associated
Coo]»ra-
Tennessee
Talley
Authority
tlves. Inc.
Income:
Sales of commodities and supplies
Sales of serrlees
Rent s and royalt les
Interest and dlrldendet
Interest on loans
Interest on pulillc del)t obligations
Interest, other
ClTldends
Ouaranty and Insurance premiums
Other income:
Chains on sale of fixed aseets
Gains on sale of Investmentt
Oeins on sale of aoqolred security or collateral.
Other
•
.
Total Income
Iipense
Cost of commodities and supplies sold
Direct operating costs
Interest expense:
On horrowlngs from U. S. Treasury
Other
Admlnl stratlve expenses
Dspreclatlon (not Included in cost of sales or direct
operating costs)
Orants, subsidies and contributions!
Direct
Indirect
Ouaranty and insurance loeees
Other expenses
Losses and charee-offs:
Loans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or collateral
Direct charges to operating reserves
Other
Total expense
Net income (or loss C - ]
'
)
U,6l4
2,755
lt,00ll
U30
5,502
28,751
135
7,367
195
U69
33
5,810
11,801
32,265
1*2,135
361
30
25
221
1
306
7,lt39
288
359
23
3
136
669
7,731
11,602
30,290
2,lU9
991
527
2,396
13,065
6,631
1*2,1*01
56,718
285
611
3,582
27,128
11,987
10,706
21,657
6,256
3,571* 11^
it,37't
3,781
1,105
102
759
568
U8
2,S68
57
3,339
1,298
867
2,783
376
11,158
5,667
580
15
lt3
3
79
llt7
378
11
3,719
5U7
10,891
16,980
6,37"*
012
11,055
19,1*00
-3,916
257
1*9,788
1*1,573
before adjustment of valuation and
operating reserves
It,
'.
AdJUBtmente of valuation and operating reserves:
Heeerve for losses on loane
Heserve for losses on acquired security or collateral
Beserve for losses on fixed assets
Reserve for losses on commodities and supplies
Operating reserves
Other reserves
-190
150
5t
It,
Changes in unreserved earned surplus (or deficit ^-^ )
Unreserved earned surplus (or deflcitL-P, June 30,19^6
Het income (or loasC~}v for the twelve months ended
June 30, 191*7
Transfers to ^ -^ surplus reserves
Transfers from surplus reserves
Distribution of profits:
To General Kind revenues - deposit of earnlnge.>
Dividends
Other
Prior year adjustments
Unreserved earned surplus (or deflcitC"^), Jiuw 30, 19**7
129
-31*3
-1
Net adjustment of valuation and operating reservee...
Set income (or loss[^-])
6,930
012
52
lUO
-31*5
11,107
19,51*0
,260
129
-190
261
957
-189
2,319
it5,777
-7
957
-189
6,930 15/
'
Ibotnotes at end of Section III.
-81,686
8,ltlO
It,
012
-1,1*56
11,107
-11,107
19,51*0
-1*9,760 r
-U,260
261
363
-2,581
-57
-6,860
6,930 15/
2,21216/'
-1,250
-213
8,326
-62,llt7
-5lt,02O
2,91*3
1*7,1*83
-197
70
Treasury Bulletin
6U
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section II
-
Incooe and Expense for the Twelve Months ^ided June 30, 1047
Table 3.- Certain Other Buslness-Type Activities
(Id thouiandfl of dollari)
March 1948
65
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Secton III - Sources and Application of Funds for the Twelve Months Ended June 30, 1047
Table 1.- Sunmary
(Ik
thmsuli
»t dolliri)
Treasury Bulletin
66
CORPORATIONS AND CERTAIN OTHER BU3INE33-TYPE ACTIVITIES,
Section III
-
Sources and Application of Funds for the Twelve Months E^ded June 30, 1947
Table 2,- Corporations
(Ib thonaandi of dollar*)
InOTltlTO
Office of
the Prtildoat
Cttpartment of Acrlcultnra
(ooQtlnn*d on follovliic P*C*)
Offlco for
Total
Nan«c«B«&t
Sn&llor VuPlaati
Corporation U/
(In llqnldatloa)
fanAu applied:
Yo acqaltltloB of aaaeta:
Loaiia aade
Piirchaee of InreBtcenta:
Pabllc debt obligatlona of United Statee.
Other eenrltlei
Purchaaea, oonatractlon or laproTeaente of
fixed asaete
Coate of aeqolrlDC collateral on defanlted
loans
Other
Total acquisition of assets
To expenses (excluding depreciation and other
charges not requiring fonds)
To retlresent of borrowing and capital, and
distribution of sxirplusi
fiepaysent of borrowings:
To 0. S. Treasury:
By cash
, ,
cancellation of notes
To other Oorernaent corporations and
^
a^neles
To the pabllc
lapayitent of capital and surplus:
S Treasury
To
.
To others
Oeneral fond reTenues - deposit of earning..
filTidands
Other dlstribntlon of surplus
Total retiresient of borrovlngs and oapltal,
and distribution of surplus
To inereaaa in vorkin^ capital and deferred iteas
Other funds applied
.
Total funds applied
fttnd* proTidadi
B^r
realiiatlon of assets:
Bapajrments on loans
Sales or collections of InTestaents:
Pabllc debt obligations of Onlted Statee.
Capital stock of OoTomaent corporations.
Other seeurlties
Sales of fixed assets
Sales of acquired seeuritj or oollataral
Othar
Total realisation of assets
'fy
B^
Incoae
borrovings, capital and surplus subscriptions,
and appropriations:
Borrovlngs:
Froa V. S. fraasury
Pron other OoTemnent oorporatlons aond
aceoeles
froa the pablie
Capital and surplus subscriptions!
Bf D. S. Treasury
Ify others
Cancellation of notes to D. S. Treasury
Oaneral ^ind appropriations - expended
Other
Total borrowings, capital and surplus subscriptions, and approprlatlona
decrease in woricinc capital and deferred iteaa
Other funds prorlded
iff
Total fluids proTldad
fbotnotes at end of Sactloo
HI.
U, 331,
820
613,222
2,36'»
U2,092
k,26t
7,207
Vkra Credit Id&lnlatratlon
(oontinned on following pa^t*)
kerg«no7
CoKodlty
Credit
Corporation
Bank*
fop cooperatives
^
federal
InterBedlate
credit banks
starch 1948
67
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section III - Sources and Application of Funds for the Twelve Months Ended June 30, 1947
Table 2.- Corporations
-
(Continued)
(Zb thonsandi of dollars)
)
Treasury Bulletin
68
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section III
Sources and Appl icatlon of Funds for the Twelve Months E^ded June 30, 1947
Tabl e 2.- Corporations - (Continued!
(Xb tkoaaandi cf dollar!
March 1948
69
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section III
-
Sources and Application of Fimde for the Twelve Months Eiided June 30, 1947
Table 2.- Corporations
-
(Continued)
(tn thoiuandB of dollars)
I
Treasury Bulletin
70
CORPORATIONS AND CERTAIN OTHER BU3INE33-TYPE ACTIVITIES.
Section III
-
Sources and Application of Funds for the Twelve Months
Table 2.- Corporations
-
(Continued
(In thousaada of dollara)
EMed
June 30, 1947
March 1948
71
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Section III
-
Sources and Application of Funds for the Twelve Months E^ded June 30, 1947
Table 3.- Certain Other Business-Type Activities
(In thooaaada of dollara)
r
.
.
.
Treasury Bulletin
72
CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIESFootnotes to Sections II and III
*
^
^
^
k/
Uaa %b*o 1^00.
l«pr«i«nta axcaaa af azpanaaa and Inoladaa aorplna raaarT*a aa
wall aa MaT*»»rr9d au^Iva or daflolt.
thla flcoxa dlffara ftom %h».t ahovn la tha laiaaca Sbaat baoanaa
Aaflolt •t $359 thoQiand for lDter-.i^«rlea£ larlfatloB Oorpor*iloB (llq«ldAt«d Tabmary 19^7) la iiiclad*d 1& thla stataMmt.
Thla flcora dlffara froa that ahown la tha Balaaca Shaat baoanaa
daflcita of $176,269 tbentand and t31B,^^ tbouiand for Jbarfcncr
Or«p and T^ad Loan letlrltlaa and farm Saottrltj AdBlnlatratloa,
raapaetlTol/, ar« Inclndad la thla atateaaat.
Stataaaat haa baan oonatructad by tha Traaaorjr Hapartaant to flTa
pfiu-nant ta
1. 7
•tfmet to llqaldatloa actlrltlaa
1.0. 966^. datad Skoaabar 27, 19^5tha proprlatarr Interatt of tha Onltad ItatM la tha f*daral I«Bd
Banka oaaaad on Jona 26, 19^7B«praaaDtB adalnlatratlTa aipanaaa padd fr«a ftanaral Vftrnd ^iproprlatloaa.
laprfaanta dapovlt la alaeallanaona raoalpto of tha fraaaurjr B*partaant
Conalata of Znatltata of Intar-Aaarlcaa Affalra, Zaatltnta of
Intar-iaarlcaa Tranaportatlon, Intar-Aaarlean Sdnfiatlenal 7ound*tlOB, inc., Xntar-Aaarlcan laTlgatloa Corporatlaa (Uqiildatad
TabniaJT 2^, 19^7), uul Praoclnradle, Zne
Corporation vms dlaaolved
daoraa of tha Smparlor Court of tha
State of VMhln^on on ZWeeaber 12, 19^.
traoafarrad
lapraaaata aalaa contract
to W&r Sap&rt^ent far liquidation and altCaata dapoalt of caah prooaada ta alicallanaoas
reoalpta of tha Traaanry Sapartaant.
£. J. 0. for
Xapreaanta ahar(a of Intaraat axpanaa allooatad
ooati of borrowing fraa Baeratarj of tha traaatizy.
Bapraaanta not ralaa of aBiata la azoeaa of Talua of o^tal
atook, vhleh nat aaaata vara tranafarrad to I. J. 0. parauaat
to roa^lutlon paaaad tr dlraetora of both eorporatloaa.
Plcoraa rapraaant aetlTltlaa undar the D. 8. Bonalnc ^^, **
aaandad. Var honalnc *^ othar oparatlona of the Aathorltj ara
raflaotad In tha olaaalfloatloa "Other' In laibla 3 ot thla
aaotien.
laoladaa $878,108.13 chargaabla to daralopaent eoata of projaota.
Tha nat Incoaa froa povar operatlona haa bean rednced bj tha nat
outlaj of $1^,318,264.28 for nonlncoaa prodncln^ prosraaa aaoh aa
flood ooatrol, naTlcatloB>and a:q>«rlaental prajocta.
^
^
^
2/
£/
^
10/
1^
\2/
I}/
ik/
1*1/
IS/
t
la/
22/
C
a/
^
^
Chan^B in anrpliia raaarraa do net raflaet tha ehancaa In Balanaa
Shaat arirplni raaarraa alaca tranafara froa othar tanrcaa than
anraaarrad aorplna hare boon aada
Oraatad porauant to Fnbllo Law 731, a^rprorod Aa<aat l>i, IS^Conalata of Indian loana and ^arte Kloo laconatraotlon Adalala-
^
22/
25/
26/
rat Ion.
Conalata of Kraaa of CeHninltT 'aollltlaa and Nblie Vorka
Adalalatratlon (in ll(ialdatlon)
flfarea ara for the nine aonthi andad Mareh 3^, 19^7, for tha
U. 8. Karltlae Oo^laalon ftiDctlona and tha L«nd-Ii«aaa mad
UXBSA. aetlTltlaa of tha Var Shipping Adalnlatratlon fftnctloaa.
The balance of the Var Shipping Adalnlatratlon ftinotlona ara
Vlgnraa for tha
for tha elfht aonthi aodod yabnair 28, 19^7entire flaoal year 19^7 vlll aat ba arallabla until tbe oalendar
jear 19>M.
Conalata of Tedaral Pnbllo lanalnc J^thorltj - loaaa oooTaraloa
procraa, Tara Samirity Adalnlatratlon proxraa, ^blle var hoaalnc
prograa, and Tataran*' ro-naa hovalnc pracraai Federal Sa<nirlt7
leaner - loaaa te atadaala: lavy Dirpartaent - gmarantaad loana (Vorld
Var tl) and aala of aurplne auppllaa (Vorld Var I}i traaauy IWpartaent - alaoellaneoiia loana and oartaln other aaaatai Var fiapartaent
- c*arantaad loana (Vorld Var XI )| Tataraaa* Oaataan Ssrrloa oreated
parnaat to Pabllo Lav 636, ^proved ihumat 7, 19^* *^ data for
the flrat toar aontha of flacal /ear 19^7 for fkra Soenxitj Adalnlatratlon and Iaarf«oc7 Crop and l^ed loana actlrltlea vbloh vara
tranefarred to Taraera' Boae Adalalatratlaa Voraaber 1, 19^Inelndaa $7^,710 thooeand daflolt ef ^rgtncj Crop and Feed Loaaa
aetintlea and fara Security Adalnlatratlaa, vMek daflolt vaa not
aavaaad bj Taraera' Eoaa Adalnlatratlaa.
Xnclndaa $3,225,975 thonaand repreaantlnc pnroliaaaa of atook la tha
International Bank for Kaconatmotlon and O^alapaent and anbacrlptlona to the International Monetary Toad.
lacladea tranaaotlone Id (oarantaed loana held b/ le&dia< a^nolaa.
Eapreaenta $U46,890.00 depoalta of ezoaaa fonda puranant to PubUe
Lav 391, approrad Ma/ 27, 19^6: and $375,000 azeaaa capital fonda
pnraoant to reaolntlona of the Boarda of J&raotora of Inatltata
of Intar-Aaarlcan Tranaportatlon and Preclnradlo, Ins.) and $66,197-68
dapoalta of reaalnln^ fnnda of Inter-iaarlean Varlgatlon Oorporatloa.
Bapreaanta $2,fk$,JZ^ thonaand anbaorlptlen to the International
Monetary Aud and $^76,250 thouaand porohaaa of atook In tha Interaatlaaal Baak for Baaonatruetlon and BkTalopaent.
@FedFRASER