Full text of Treasury Bulletin : March 1949
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SEP
1
1;
/
/
LIBRARY
ROOM 5030
JUN 2
1 1972
TREASURY DEPARTMENT
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
mEAWMV.
Mm/LEFM
MARCH -1949
UNITED STRTES TRERSURV DEPRRTMENT
OFFICE DF THE SECRETBRV
March 1949
Table of (Contents
Page
Treasury financing operations
A-1
Summary of fiscal operations
1
Budget receipts and expenditures
2
Trust accounts, etc
8
Treasury cash income and outgo
General Fund of
t
he Treasury
11
l**-
Debt outstanding
15
Statutory debt limitation
IS
Debt operations
19
United States savings bonds
25
Treasury savings notes
2g
Ownership of Federal securities
29
Treasury survey of ownership of Federal securities
31
Treasury survey
securities
-
commercial bank ownership of Federal
35
Market quotations
39
Yields of Treasury and corporate bonds
'2
Internal revenue collections
'<'*
Monetary statistics
'^^
Capital movements
52
Cumulative table of contents
66
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 1949
A-l
Treasury Financing Operations
March Certificates Refunded
to $2,922 million on the basis of preliminary figures.
Announcement was made by the Seoretsury of the
Treasury on February 9 that holders of the Treasury
Maturing certificates
held by Federal Reserve
Banks to the extent of $1+00 million were redeemed
1-l/S percent certificates of Indebtedness maturing
for cash,
would be offered a one-year 1-1/U
percent certificate of Indebtedness, The maturing
vestors to be paid in cash.
certificates totaled $3,553 million.
Call of 2 Percent Treasury Bonds
of 1940-51
on March
1,
19'*9i
Subscription books for the laeue of
1-lA
per-
leaving $231 million held by other in-
On February 1^,
the Secretary announced that
cent certificates of Indebtedness, Series C-1950i
offered in exchange for the maturing certificates,
all outstanding 2 percent Treasury bonds of 19U-9-51,
were opened February 15 and were closed at the close
on June 15,
of business on February IS.
were dated March
1,
19'*9,
that date at the rate of
The new certificates
and bear Interest
l-l/'(-
from
percent per annum,
payable with the principal at maturity on March
1950.
19'''9»
are called for redemption
The sunount of this issue out-
19't-2,
standing is $l,0l4 million.
The announcement stated
that holders of these bonds. In advance of the
redemption date, may be offered the privilege of ex-
1,
changing all or part of their called bonds for other
Exchanges were made par for par and cash
interest-bearing obligations of the United States,
in which event public notice will hereafter be given.
subscriptions were not received.
The certificates
were Issued In bearer form only,
in denominations
of $1,000, $5,000,
$10,000, $100,000, and $1,000,000.
Reports to the Treasury on the ownership of
Government securities Indicate that on December "}!,
194^,
dated January I5,
about 61 percent of the maturing certificates
were owned by reporting commercial banks and Federal
Reserve Banks.
The ownership figures for December 3I
are the latest available for holdings of commercial
banks
Treasury Bills Retired and Refunded
Treasury bills maturing in January totaled
$3.S billion, and the amount refunded totaled
The Issue dated January 6 amounted
$3.7 billion.
to $1.0 billion, which was $100 million less than
the amount maturing.
The other three maturities
of $900 million each were refunded in full.
The
average rate of discount on the four January offerings was 1,155 percent for the issue of January 6,
Subscriptions to the new certificates amounted
Notei Details of Treasury market financing operatione are
shown in the tables on "Offerings" and "Disposition'?,
respectively, of marketable issues of bonds, notee.
and for each of the others, I.160 percent.
and certificates of indebtedness, and the table 'Offerings
of IraaBury Bills", in this issue of the"Ireas(ury Bulletin",
.....,
•
March 1949
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In mllllonfl of dollars)
Budget receipts and expendltxiree 1/ Net
transactions
of Foreign
Surplioa,
Economic
Net
EipendlCooperation
receipts
tureB
deficit
Trust Fund
2/
1/
V
(-)
Surplus, or
deficit {-)
adjusted
for
y.E.C.
Trust Fund
Other
Net
Increase
trxjflt
acco\aita,
etc. - net
receipts,
or expenditures {-)
Clearing
account
6/
5/
decrease
Net
Increase
in General
Fund balance, or
decreaae
(-)
(-)
In
public
debt, or
Levels, end of period
General
Fund
balance
Public
debt
1/
71ec&l yeare:
1937
1938
1939
'',979
5,802
5,103
5,265
igito
igui
Wits
7,227
12,696
22,202
19W1
'•3,892
19ll2
W.,762
7,756
6,979
8,966
9,183
-2,777
-1,177
-3,862
-3,918
-2,777
-1,177
-3,862
-3,918
13,387
3'', 187
79,622
95,315
-6,159
-6,159
-21,ll90
''20
-21,1*90
-57,1*20
-51,'t23
-51, ''23
-57,
I1I13
23, '•61
358
6,515
10,662
61»,27U
61t,307
791
57,679
10,71*0
5,''19
I9U9 (Eetljiated).
39,580
37,180
2,1'00
19^
110,985
111,858
-873
8,1.67
16,290
20,229
57,751
-lil,li6l
-9'i7
71*2
-52''
Us, 211
-128
-338
622
5,99l>
908
-1,613
-338
-2,222
-53,9''l
'40,01(3
(Estljiiatsd).
3,275
2,528
-20,676
19U8
'10,027
7I1O
-20,676
WiT
,
2,6li6
-53,9''l
98,703
60,703
39,289
36,791
w"*?
19116
3
98
1,210
2,633
2,991
9,507
20,169
36,1125
37,165
Il0,llll0
112,968
118,961
72, ''22
136,696
201,003
211,698
l'',238
258,682
Wo
1*,529
-10,
2,553
2,216
2,838
1,891
269,1*22
75''
-1,103
-10,930
3,308
3,000
-29''
555
-507
-U,136
8,1419
-5,9911
l,62ll
11,932
258,286
252,292
-3,000
-600
-873
-10
llOO
-723
356
-933
-500
3,999
3,500
251,569
251,925
12,913
50,232
57,707
1,632
6,983
1,751
3,560
10,5li3
611,753
9,91*2
22,236
57,938
108,170
165,877
230,630
117,1*811
75''
18
Calendar years:
iglil....
-U,762
-55,691
-53,650
-11,762
-Ul,U6l
-55,691
-53,650
87,522
111, 322
38,576
37,565
-1(3,59''
-''3,59''
-2,512
-2,512
2,li3li
2, ''3''
5,3''2
3,019
3,731
3,239
706
Wit
2,102
2,102
April
May
June
1,962
2,297
3, ''07
3,28''
-l,ll'l5
-l,liU5
'',929
'',996
-987
-67
-987
-67
July
August.
Septemher
2,281
3,553
2,962
2,673
-1,272
-1,272
19't2
WW
3'<,'*«3
90,1711
WkU
'•3,531
97,181
WltS
''3,928
igiifi
38,810
igiiT
111,010
19U8
lil,li50
3,885
1,356
''80
-1,788
-266
-1,161
362
-18,966
3,767
-22,502
-2llO
-2,2ll9
-I105
26,003
3,502
3,097
199
-4,100
1,111
li,208
256,900
252,800
-69
215
-72
-56
102
39
628
1,210
I*,
711
259,776
1,6U2
2^1122
7,1311
-2,2911
-2211
6,909
261,1*18
259,121*
202
62
-637
67
37
-1,''23
-2,598
'',312
257,701
6^2
-57
-21'5
U,066
3,308
258,31*3
-IW
1,161
6U9
-239
332
552
3,069
259,lili8
3,1100
260,097
3,952
259,11*5
'1,107
3,935
3,097
259,071
258,212
256,900
'1,61*8
256,571*
'*,3l8
5,353
254,605
252,990
-123
-1,386
-350
-229
5,2111
12,2911
278,115
259,11*9
Months:
19^*7- January
.
February
March
,
.
3,725
.
11,196
.
.
October.
November
December.
.
.
I9U8- January
.
February
March
.
.
April
May
June
2,1*38
'',612
2,339
2,692
'',197
706
I16U
-52I1
-52I1
17
379
1,9U0
1,91*0
-31U
2,39''
-55
2,lU3
3,176
51*9
5'*9
69
265
1,022
1,022
-I168
-55
1,396
1,396
259
1,93"*
-19I1
2,788
-86
222
-101
-53
-326
-1,969
-1,615
1,551
-330
1,035
2,239
2,5111
-302
103
86
378
-685
226
-iWt
-226
-7U1
U,6l2
252,21*0
2,222
7,018
-302
103
-2,159
-750
2,32''
-3
33''
li,9'i6
56
-Ik
li,932
252,236
252,292
700
-289
9
1,082
5,0711
"4,832
253,371*
253,01*9
3,000
8I1I
-l,6li5
U
169
202
1,1*77
-371*
-362
Ikl
-2lH
751
5,583
252,687
17''
-227
-781
U,802
252,1*60
-158
-163
-I117
291*
-177
'4,385
'4,208
252,506
252,800
3'iO
-179
1151
'',659
252,620
362
'',5''3
2,869
1,67''
-183
-192
-196
October. .
November
December .
2,101
-5811
-226
'1,01''
2,685
2,815
3,603
3,579
2,968
2/
^/
-859
2,788
-1,''62
1/
-1 312
1,93''
2,1''3
'ce:
-127
-80
155
-172
-838
3,086
3,558
.
2111
-7I1
2,22ll
2,096
2,505
19'*9- January.
-953
2,800
July
August. .
September.
.
-173
-121
258,286
'',196
'',158
5,87'.
'',859
.
3
-758
2,5'«5
-275
-3I17
-810
-623
lilO
-''99
-88
82
317
-219
611
-237
37"*
-8I1
Actual figures fran Dally Treasury Statement; estimates based on
the 1950 Budget document. Including effect of proposed legislation.
Both receipts and expenditures exclude (1) refunds of receipts and
(2) payments to the Treasury, principally by wholly owned Government
corporations, for retirement of capital stock and for disposition of
earnings.
Gross receipts lees appropriations to Federal Old-Age and Survivors
Insurance Trust Fund and refunds of receipts (see Table 1 \inder
"Budget Receipts and Expenditures").
Excludes refunds of receipts, formerly shown as expenditures but
now shown as deductions from receipts (see Table 2 under "Budget
Receipts and Expenditures"). Figures for the fiscal year 191*8
include $3,000 million transfer In June to Foreign Economic Cooperation Trust Fund; figures for fiscal year 19U9 (actual and
estimated) exclude expenditures from this fund.
k/
^
6/
jj
-32I1
Established in accordance with the Economic Cooperation Act of
191*8; positive figures Indicate net receipts and negative figuree
Indicate net expenditures.
Consists of: all trust accounts other than Foreign Economic Cooperation Trust Fund; sales and redemptions of securities of Government corporations, etc.. In the market (net); Increment on gold;
seigniorage on silver; and miscellaneous funds end accounts. Figuree
exclude retirement of national bank notes chargeable against Increment on gold ( fiscal years 1937-39 )
Clearing account for outstanding checks and telegraphic reports from
Federal Reserve Banks; excess of receipts, or expenditures (-).
For data on guaranteed securities and total Federal securities outstanding, see Table 1 under "Debt Outstanding" In the current Issue
of the "Treasury Bulletin"; for earlier dAta, aee issue of July
191*8, page 1.
..
Treasary Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In allllona of Aollare)
Internal rereoua i/
and pToflta taxes
Inca
riscal rear
or BOQth
l^loyaeat
Wiihhald
3,k70
7,960
3, '•70
16,09''
19*2
19''*
19''7
19*3
19'>9
19^
(latlBstsd).
(E«tlMt«<l).
19'tS-Julj'
Al^UBt
S«pt«mb«r.
Oototwr
HoTamb«r.
D«c«nber.
2,967
3,8k7
7,362
12,993
392
389
1,''98
"•,553
22,lUli
1,739
1,780
5,291
''1,685
6,91*9
•3,902
355
Internal
rereoue
925
1,186
y
Grose
receipts
2/
Approprl at ions
to Tederal
Old-Age and
SurrlToro
Insurance
Trust Fynd
6/
PeftAle
of
receipts
1/
2k2
295
7,996
668
80
i3,6n
85
32''
93'.
23,1.02
''31
3,325
3,U9U
1.5, '•'.1
896
1,130
1,292
1,310
TO
257
1,679
let
recelpt«
2/
7,227
12,696
22,202
26,262
16,09''
3'',655
2l>,e8k
35,173
9,392
10,013
U,'.36
21, ''93
30,885
29,306
31,171
1,701
7,725
''0,310
'•35
1,238
8,0119
39,379
b9'i
'.'•,506
1,1.59
2,381
8,301
1.1,853
U22
3,821.
1.6,099
1,616
2,973
3,006
2,272
bo, 027
2,02li
3, '•92
'•,635
l.l.,238
19,292
19,735
lO.lilli
19,825
20,707
30,239
31.387
2,599
5,273
8,512
8,553
'.1,350
'•5,213
1.07
2,287
1,8U2
''l.,01.1.
1,751.
'•,120
2,709
2,097
39,580
719
1,25't
67
677
31
'llO
7'i2
63
380
ll«
61.
2,096
2,505
2,939
1,568
3,632
130
6t6
'','•38
35
271
195
12b
2,300
'103
1,998
2,720
'.,5*3
768
768
T02
IU9
2,199
2,731.
36
33
17".
2,9'»1
Till
65
38U
Hi"
2,013
385
2,328
1,180
1,583
3,OU2
3,878
38
1U5
I.,
609
2,152
2,762
5h
638
3, '•53
30
192
10,680
535
1,165
.
69''
.
.
537
1,198
.
.
19J»9-jsna«r3r
7,960
naoufl
Other
receipts
8,393
10,289
19''3
19''''
Custoae
i/
i?iil
19''5
Total
Internal
rerenue
tazas
Othar
eaplojers
2/
Mlacella-
Actual figures fron Daily Treasury Statement; estimates based on
the 1950 Bud^t docuasnt, including effect of proposed changes in
enploynent taxes and miscellaneous receipts. Peceipt classifications
l«7
3'.
'•7,750
1.7,1.62
2i9'.8
"•,597
".3,892
Ul.,762
b0,0b3
b2,2U
"«,985S/
8
1.6
39
1.3
062
59
358
7
kl
2,101
2,5b0
b,01b
3,675
38
58
3,579
shovn here are biased on the Call7 Treasury Statenent and therefore
differ sonsvhat from those in the Budget.
Footnotes at end of Table 5>
Table 2.- Expenditures by Major Classifications
(In millions of dollars]
Fiscal year
or Booth
19bl
19b2
V)^l
I9W.
,
19'.5
19^
19b7
19b8
,
19b9 (Estimated)
1950 (EstlKtwl)
19b8-July
August
Septenber.
October
Iforeaber
Deceaber
19b9- January
Source:
national
defense
6,655
28,266
75,297
89,720
90,501
on
the
public
debt
1,111
1,260
1,808
2,609
3,617
Veterans'
Administration
10/
Other
Total
expenditures
2/2/i2/
730
2,060
5,059
b,105
1,91b
2,256
2,525
13,387
3b, 187
79,622
95,315
98,703
b,722
b,958
5,211
•,253
7,259
6,b69
2,133
5,378
6,603
60,703
39,289
36,791
563
556
602
Expend Ituree
of Foreign
Econanlc
Cooperation
Truat Fund
Total
expenditures
adjusted for
?.E.C.
Trust Fund
13,387
3'^,l87
79,622
95,315
98,703
b8,870
16,766
11,36b
7,1'.3
11,812
lb, 030
3,682
6,2b6
5,325
6,667
5,313
9,69b
10,818
37,180
bl,858
3,000
5,'.50
bo, 180
bl,858
1,155
155
138
282
286
lib
570
788
539
b87
1,17b
551
815
3,558
2,lb3
2,869
183
715
192
196
3,7bl
2,335
3,066
931
957
1,017
17b
206
153
212
122
1,112
b90
878
618
9U
555
767
2,685
2,815
3,603
226
3b7
b99
3,163
b,102
319
528
878
2,968
237
3,205
800
..
International
finance
and aid 2/
l,0b3
727
b,928
Actual figures froa Daily Treasury Statenent; oetlmates based on
the 1950 Budget dociaaent. Including effect of proposed legislation.
Expenditure classifications shovn here are based on the Dally
-3,000
60,703
39,289
33,791
2,9U
Treasury Statement and therefore differ eoaevhat from thoee In the
Budget.
Footnotes at end of Table 5.
..
,.
March 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 3«- Expenditures for National Defense and Related Activities
(In nllllone of dollars)
FlBcal year
or month
Department
Department
of the
Air Force
of the
Army
lit/
is/
igiii
3,678
070
12,265
Department
of the
Navy
16/
Witit
Il9,2ll2
2,313
8,580
20,888
26,538
191*5
50,337
30,01*7
191I6
27,800
6,911
15,161
6,0li6
"t.ni
L,538
1,556
5,1»W»
l*,l*55
U,9U7
U,679
671*
September..
69
120
139
328
217
October
November.
December.
117
122
150
IU7
igits
111,
19'>3...'.
,
w"*?
WW
(Estimated)
1950 (Estimated)
19'»9
191.8-Juljr
Aug^t
..
,
. .
I9U9 -January
Faymente
under Armed
Forces
LoaTe Act
Surplus
property
disposal
United
States
Maritime
Cannnl salon
12/
a^ncles
18/
51
929
2,776
3,812
3,227
Reconstruction
Finance
Corporation
12/
351*
259
2,255
3,189
2,682
2,1*32
6,180
1*72
6,305
6,655
28,266
75,297
89,720
90,501
328
138
ui*
69I*
other
ao/
7,1*1*7
66U
1,501
268
106
lt,117
1*8,870
325
519
8
16,766
U,361*
21*
121
31
33
629
11,812
II*, 030
1,986
270
271
277
13
1
191
187
37I*
1
2
20
13
10
15
322
332
1,155
800
UU3
31*8
Wl
381
378
10
9
18
10
1*19
2
1
931
957
1,017
501*
376
'*,998
3
ltU2
U
U
15
ns
7
7
1,01*3
Actual figures from Dally Treasury Statement; estimates based on the
1950 Budget document, Inclijding effect of proposed legislation. Expenditure classifications shovn here are based on the Dally Treasury
Statement, and therefore differ eomevhat from those in the
Budget.
Footnotes at end of Table 5.
Table 4.- Expenditures for International Finance and Aid
(In millions of dollars)
Fiscal year
or month
191*6
Bretton
Woods
Agreements
Act
159
1,U26
191*7
191*8
ExportImport
Bank
£1/
568
938
I165
(Estimated)
1950 (Estimated)
August
September.
October
November
December.
.
19l*9-January
.
.
.
United
Kingdom
2,050
1,700
Relief
In war
devastated
countries
Govemment and
relief
in occupied
countries
Economic
Cooperation
Administration
22/
Foreign
Aid
Act of
China
Aid
Act of
19lt7
19»*8
I*,
511*
881
3,131*
U98
285
136
17
1,265
1,030
1,600
U,500
99
-19
-109
8
26
II*
k
1
22
U
6
llt6
.
35
8
.
.
-35
1
Total expenditures
adjusted
for F.E.C.
Trust Fund
li
81*
1»8
12
11*
39
6U
18
27
79
113
2
16
117
1
30
57
6
3
727
928
727
l»,928
7,11*3
-3,000
67
3,682
3,000
380
6,21.6
33
350
kg
178
176
Actual figures frcm Dally Treasury Statement; estimates based on the
1950 Budget document, including effect of proposed legislation. Expenditure classifications shown here are based on the Dally Treasury
Expenditures
of Foreign
Economic
Cooperation
Trust Funi
Other
22/
ii/
272
.
. .
to
GreekTurkish
assistance
161
191*9
19l*8-July
Credit
61
29
10
11*1
6,682
6,21.6
155
138
282
183
192
196
338
330
171*
226
too
206
153
31*7
5511
1*99
652
237
1.38
Statement^ and therefore differ eomevhat from those In the
Budget.
Footnotes at end of Table 5*
l*,llt3
1*79
.
Treasury Bulletin
BUDCKT RECEIPTS AND EXPENDITURES
Table 5.- "Other" Expenditures
(In millions of lollan)
Flacal j*aT
or moatii
19*1
WW
WkS
WkW
Wk?
19*6
191*7
WW
Aid to
agrlcultura
^
y
2/
6/
2/
8/
2/
10/
12/
il/
iU/
HlacellaneouB
22/
1,37k
970
299
1,081.
5,059
622
".,105
1,911.
17
679
-21.6
1,738
2,038
1,683
1,971
-kl
106
,371.
9,691.
,882
10,818
-U3
110
25«
502
79
132
137
lh6
-8
8
-20
590
218
363
1,171.
69
275
321
285
172
86
102
ll«
Ikl
275
371
21.6
878
911
767
269
155
10l>
31.7
878
1,822
19l>9-Janusr7
21/
Direct
and work
relief
28/
359
690
1,126
i.gito
October
Rorember ....
Deceaber.
26/
Boualne
ftud hcmm
flnanca
1,066
1,619
(Eatlnatad)
.
Public
work*
-ao3
1,226
782
(EatlMted)
.
pro9*aB
22/
586
656
732
798
807
I9I19
August
September
securltjr
1,272
1,385
585
696
969
19^
WkS-Jula
Social
81.5
Actual flgur«a frco Dallor Tr«a<ur7. Stat«iaeat; eetlaat^e ^laaed on the
19^ Budget docuaont, Inoludlng effdot of propoaod legislation. £jp«ndltur« cl&aiiflcatlons shovn here are based on the Dally Treoaury
StAt«ffl0nt, and therefore differ aooevhat from those In the Budget.
For further detail, see tables under "Internal Bevenua Collections".
Pecelpts of Victory taxes withheld pursuant to the PeTonuo Act of
I9U2 are classified as "Other" Income and profits taxes.
Consists of receipts for old-age Insurance, unemployaent Insurance,
and railroad retirement; for details see Tables 7 and 8. Excludee
railroad unonploynent Insurance contrlbutlonB, which are Included
In "Other receipts".
Includee proceeds f^rom the eale of surplus property and fron CoTernment-ovned securities; also includes deposits resulting from renegotiation of war contracts (for detail see "Treaaury Bulletin" for
Februory 191*9, page 5).
Both budget receipts and budget expenditures exclude payments to the
Treasury, principally by wholly owned CoTemiaent corporations, for
retirement of capital stock and for dleposltlon of earnings, (see
"Treasury Bulletin" for February 19**9, page A-2).
Pepresente appropriations equal to "Social security -- employment
taxes" collected and deposited aa provided 'inder Sec. 201 (a) of the
Social Security Act Amendments of 1939* See also Table 7*
Excludes Intereet on refunds, (see "Treasury Bulletin" for Pebmary
19'*9, page A-2).
Allows for deduction of appropriation of $?6o million for Health
InAurance Trust Fund, under proposed legislation.
Figures for fiscal year V)^^ Include $3,000 million transfer to
Foreign Economic Cooperation Trust Fund; figures for fiscal year
I9I19 (actual and estimated) exclude expenditures fron this fund.
Includes public works undertaken by the Veteran*' Administration.
Includes intereet on refunds of receipts (see footnote 12).
In addition to the exclusion of certain payments to the Treasury
as Indicated In footnote 5, total expenditures shown here exclude
refunds of receipts, which were formerly shown as a classification
of expenditures but which are now shown as a deduction fron receipts (see Table 1, preceding). Interest on refunds, formerly
Included with refunds. Is still carried as on expenditure but Is
shown under "Other" expenditures. Budget expenditures also exclude
ODO'jnte for public debt retirement which ore chargeable to the
sinking fund, etc., under special prDvislons of law, and include
transfers to trust accounts and net expenditures of wholly owned
Oorernment corporations, etc., except payments to the Treasury
mentioned aboTe.
Established in accordance with the Economic Cooperation Act of 19't8.
Negative figures Indicate receipts.
See footnote 1^/.
Departnent of the Amy expenditures Include expenditures on behalf
of the DepartZBsnt of the Air Force which are mode out of opproprlaMons to the Deportaaent of the Army, but exclude expenditures for
the following:
payments under the Armed Forces Leave Act, UNRRA,
and surplxja property disposal, shown elsewhere In Toble 3; international finance and aid, shown in Table U; river and harbor work
and flood control, included under "Public works" in Table 5» and
Panama Canal. War expenditures of the Panama Canal, all prior to
July 1, 191*7, ore Included under "Other" In Table 3» other expenditures of the Panama Canal are included under "Miscellaneous" in
Table 5.
7l'l
3
673
535
-201
I125
-360
-307
313
ll»7
3^/
17/
3.8/
19/
20/
21/
2g/
23/
SU/
2^/
26/
27/
28/
2^/
•
.351.
129
-68
9
-9
-7
U8
71.2
1,378
2,267
3,11.5
2,256
2,525
2,133
5,378
6,603
551
815
Deportzasnt of the Navy expenditures sxcept those for payments
under the Armed Forces Lsave Act, UHKRA, and surplus property
disposal, shown elsewhere In Table 3, and those for Intematlcnal
finance and aid, shovn in Table U.
Excludes expenditures for UltRRA and surplus property disposal,
shown elsewhere in Table 3Beginning March 19^3, includee relmbursamsnt for expenditures by
the Departiaents of the Army and the Navy for care and handling of
surplus property overseas.
National defense and related activities of P.F.C. and ita
affiliates. After July 1, 19l*7, expenditures for these purposes
were not segregated from the other expenditures of the Corporation
and Its affiliates, which are Included under "MisceUaneouiT expenditures In Table ^.
For content before July 19l*8 see "Treasury Bulletin" for February
I9U8, page 7, anl September 19^^, page U. Beginning July 19>*8
conelete of expenditures of the Selective Service System and the
Office of the Secretary of Defense.
Excludes expenditures under Econoolc Cooperation Administration,
shown elsewhere In Table ^.
Excludes expenditures for International finance and aid shown elsewhere in Table U. Figures for the fiscal year 19^ include $3,000
million transfer to Foreign Econcalc Cooperation Trust Fund; figures
for the fiscal year I9U9 (actual airfl estimated) exclude expenditures
frcMB this fund.
The fiscal year 19^*9 tronsoctlons shown here represent expenditures for loans made through the Export-Import Bank
under the Economic Cooperation Act of 19^^Conelsts of expenlltures by the State Departaent for the International Children*e ^lergency Fund and for the loan for construction
and furnishing of United Nations headquarters.
Department of Agriculture expenditures except those for UWcKA,
surplus property disposal, other national defense and related
activities prior to July I9U7; International finance and aid; and
forest roods and trails, included under "Public worke" in Table 5For more detail of theee expenditures, oee Tables 7, 8, and 9*
Expenditures for the U. S. E^loyment Service during the fiscal
yeare \3kl through I9U6 ore excluded frtn Table ^ and Included
under "Other" in Table 3 aa national defense expenditures.
Federal Works Agency expenditures except those for eurplus property
disposal, other national defense and related activities prior to
July I9U7, and assistance to Greece and Turkey. Includee also
|
river and harbor work and flood control, forest roade and trails,
Bureau of Peclamatlon, and Tenneesee Volley Authority.
Housing and Hooe Finance Agency expendltui'eo except those for
surplus property dlspoeal, and for other national defense and related activities prior to July 191*7.
Hot claesified separately for fiscal years after 19>»5. For additional information for earlier years, see "Treasury Bulletin" for
August 191*^, page 6.
Includes expenditures for executive depart^wnte not included eleewhere (including interest on refunds of receipts) and for leglelatlve and Judicial functions; Goremment contributions to Government employees' retirement; stoiaic energy; aids to education, labor,
finance, coonerce, and industry; Civil Aeronautics; Panama Canal,
except war expenditures; Post Office deficiency; stock-piling; and
for 191*9 and 19^ estimotes, reservse for contingencies.
Lees than $^00,000.
March 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary by Months and Calendar Years
(In millions of dollars)
Calender year
Apr.
July
May
Aug,
Sept.
Net budget receipts l/
I9W).
309
1.39
igiii.
331*
1*11
1912.
191*3.
571
783
91*9
2,71*0
2,1*91*
751
791
1,557
3,538
5,202
6,532
6,661
296
383
686
1,508
3,01*7
2,786
191*5.
3,1*59
3,613
191*6.
3,770
3,725
3,581*
1*,196
l*,158
5,501
5,871*
2,159
1,962
2,239
62li
798
710
1,076
2,652
1,1*82
l,liOlt
6,358
8,012
7,127
7,71*6
10,1*12
3,598
3,239
3,086
191*7.
19I18.
l*,196
191*9.
3,579
19110.
191*1.
19U*.
677
1,133
2,680
6,728
7,737
191*5.
8,11*2
19lt6.
l*,8ll
3,31*0
19lt7.
3,019
2,800
2,968
2,22lt
5,31*2
393
386
556
599
1,270
2,1*69
2,895
2,900
It, 567
6,182
5,702
2,21*3
3,963
2,297
1(,929
•',859
1,1*72
2,321*
1(1*0
703
327
356
731*
5,712
390
581
1,128
2,511
1*37
558
599
591*
16,290
2,711*
2,1*32
5,1*1*1
2,021*
5,803
1,900
2,1*35
2,656
1*,875
2,1*53
2,093
2,105
2,322
1,205
2,695
5,730
2,182
2,281
2,096
2,21*6
1*,386
2,1*1*0
2,1*38
It,
612
2,505
U,5l*3
2,339
2,101
801
1,668
738
1,989
5,921
7,667
7,779
6,372
325
U07
739
2,001
2,078
191*2.
191*3.
19lt8.
19lt9.
3,731
3,515
9,03U
3,939
7,300
7,337
7,758
3,750
3,1*07
2,51*1
881*
81*3
1,591
lt,lt00
li,8l0
1,631
5,257
7,1*75
5,1*56
6,879
8,927
8,260
8,631
7,1*99
8,011*
7,831
S.IOS
9,51*0
8,561
6,91*9
3,371*
3,281*
1*,836
l*,996
7,018
3,287
3,553
3,558
2,71*5
2,222
2,962
2,lU3
2,663
2,673
2,869
891
2,328
1*3,531
1*3,928
2,288
2,692
1,050
38,810
l»,197
2,51*0
It,
1*1,010
ltl,U50
oil*
1,187
6,181*
1,890
6,012
7,619
7,91*7
8,031*
7,811
It, 530
5,619
2,860
31*, 1*83
067
5,321*
It,
Budget expenditures 2/
605
1,352
8,1*67
2,391*
2,1*53
2,11*3
2,685
2,815
8
5
1
...
.
8
U5
5
7
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(In BlUlcn* of dollAT*)
B»c»lpt«
Gross rocslpts
EXC»B0 of
nat rocelpta,
or ezpondl*
tur»a (-)
Iscal Toor
r Bonth
Social securltj tazas
Fsdoral Inauraace
Contrlbutiona Act
(Old-age insurance)
i/
Federal ^JataploymBat
Tax Act
( Une^ilojBent Insurance)
Appropriations to
Federal Old-Age and
SuTTiTors Insurance
TrxMt Fund g/
19">3
19"il
-3">l..3
788.2
1,015.6
1,288.9
1,^72.0
Wk?
-306.7
1,''9'>.5
690.6
895.6
1,130.5
1,292.1
1,309.9
181..
688.1
895.6
1,130.5
1,292.1
1,309.9
19"^
-363.5
-573.3
-639.7
1,1.18.1
1,238.2
179.9
1,238.8
1,61.1..3
1,'.59.5
161..
l,'i59.5
l,82l..l
1,6]£.2
207.9
1,616.2
61. .6
19l>l
3>'9.3
WkS
-38I..5
-368.8
WT
I9M
WkS-Julj
October.
IVorenber
December.
19b9-JaDuar7 .
179.9
2.5
3.3
2.7
U.O
7.2
97.6
116.6
155.7
175.9
5.8
8.2
7.2
17".. 1
177.1'
176.7
200.7
63.1
379.6
8.0
1.6
12.9
.6
.2
63.1
379.6
8.0
1.0
392.5
8.2
.7
.8
12.3
-.5
-98.5
-73.7
-IDO.k
60.5
370.0
8.6
58.8
357.6
7.1
1.7
12.3
1.5
58.8
357.6
7.1
.8
.8
.7
.7
U.6
-68.5
52.5
38.0
1I..5
38.0
.5
Ik.O
-61..
.
158.
Ret
raceipta
-68.8
-lk5.0
August.
Sept«ab«r
97.7
U9.9
Refunds of
social
securl tj
.8
ExpendltoxvB
Fisc&l year
or BOQtJl
Total
AdmlnletratlTe
escpaoaes
i/
191.1
1.1.6.8
191.2
501.1
WM
52''.
191.1.
520.2
191.5
1.81..
191.6
191.7
537.6
750.0
191.8
81.0. 1.
Grants to States
Transfers
to Federal
Old-Ags
and
SUTTlTOrS
Insurance
Trust
Fund
31.6
31.6
33."
32.2
32.2
Xiaaaploj-
Old-age
assistance
SerriceB
for
crippled
children
Child
welfare
service
u.o
u.o
3.8
3.8
3.8
1.5
1.6
1.6
l.k
l.k
.2
7.5
1.3
2.0
7.'>
3.''
1.2
.5
.k
.3
.6
63.0
70.3
55.1
36.3
5.5
5.9
6.5
6.2
3I1.2
5.1.
361.2
515.7
573.1
59.3
72U.1
819.6
113.1.
10.3
Ik .9
16.9
55.6
59.8
66.6
6.3
10.7
10.5
l.U
1.1
1.0
1.1
1.0
.3
1.88.0
'•51.9
I.98.U
l.l.
.3
11.3.9
58.0
1.1
1.2
3.0
72.9
67.1
55.11
October..
Horember
December
99.1'
85.1.
101.2
1.2
1.2
1.1
''9.5
lUl.7
1.8
1.5
16.5
lU.l
13.6
1.1.
.1
.1
61..
I.
2.0
1.8
1.3
2.0
l.U
.6
.3
•
51.9
18.8
17.1
13.8
.1
K>0.1
30.7
1.0
.7
.6
81.1.
59-7
18.1
1.6
.1
.6
.3
98.2
81.
82.1.
Maternal
and cblld
health
serrloes
7.1
8.0
8.5
10.3
10.0
IU5.6
77.0
68.3
19l.9-Januar7 .
Aid to nent compensation
the
blind administration
63.2
69. 1.
67.3
57.0
52.8
U9I.I
Auguat,.
September
191.8- Juljr
Aid to
dependent
children
260.1
299.1
316.9
360.6
333.6
1.15.2
1.69.6
39.2
25.5
20.1
Children a
Bureau
Social Security Adoinlstratlon
.2
72.6
61.
.2
Public
Health
Serrice
2/
u. s.
ment
Serrice
6/
10.6
U.U
ID.
10,9
10.7
20.
1.
,2
_L_
Source:
1/
2/
^
It/
Daily Treasury Statenent.
Sxceas of expenditures Is corered by appropriations by Congress.
Represents appropriat'ons equal to "Social security - enployaent
taxes'* collected and deposited as prorided unler Sec. 201 (a) of
the Social Security Act Aaendnente of 1939*
Tax refunds deducted froo receipts exclude Interest on refunds,
which is included under "AdmlnlBtratlTe expenses".
Includes expenditures froD approprlatlonB nade specifically for
admin Istrat Its expenses relating to the Social Security Act,
adminlatratlTe expenses reimbursed to the General Fund of the
^
6/
•
Treasury under Section 301 (f) of the Social Security Act, as amended,
admlnl strati re expenses imder the Wagner-Peyser Act, and Interest on
refunds of social security taxes (see footnote 3)>
Beginning July 1, 19^^, payments preriouely made under the Social
Security Act were discontinued^ and thereafter were made under
proTlslcna of the Public Health Serrice Act of 19'*1».
Cl^uaifled as "ExecutlTs Office, Office for Emergency Management,
War Manpower CcmLlsslon*' through July 31, 19'»6<
LesB than $^,000.
...,
.
,
.
..
2
5
3
.
March 1949
BUDGET RECEIPTS AND EXPENDITURES
Table 8.- Railroad Retirement Act
-
Budget Receipts and Expenditures
(In mlUlonfi of dollars)
Becelpta
Flacal year
or month
Exceee of
receipts, or
oipendltures (-)
1/
I9HI
19k2
Expenditures
Deduction:
Be funds of taxes
cm carriers and
their employees
Taxes on
carriers
and their
employees
1/
136.9
170.0
208.8
267.0
128.2
3.9
7.6
12ll.ll
220.2
265.2
311.1
5.1»
21U.8
262.7
308.8
191*3
-U.U
19Wt
1.8
19»*5
-26.3
136.9
170.0
208.8
267.1
285.0
19**€
-12.8
77.3
-206.5
282.6
380.1
557.1
281.7
380.0
557.0
2911.5
2.6
302.8
763.5
It.
2.I1
August.
September
16.6
121.3
17.2
121.6
2.U
17.2
121.6
October. .,
November
December
U.6
.6
lU.l
125.8
13.9
125.8
.It
.It
.
-67.7
13.5
125.5
.It
.It
I9l*9-January,.
-71.2
1.2
1.2
72.lt
,
,
19'*7
191*8
8.7
21.6
191*8- July
.
.
.
281>.8
It
^
Daily Treasury Statement.
Exceas of expendlturea la covered ty approprlatlona ty Congreaa
Tax refunde deducted from receipts exclude interest on refunds,
which la Included under "AdmlnlstratiTe expenses"
Source:
1/
2/
Transfers to
Railroad Petlreaent Account
(trust accoxBit)
Admlnls*
tratlve
expenses
Net
receipts
lltO.9
2.5
2.3
5.0
291.9
298.5
758.5
317.9
.It
3lt7.6
.5
.5
.3
.3
72.lt
.It
T2.0
Consiate of expenditures from appropriatlona made epeclflcally for
adminletratlTe expenses relating to the Bailroad Betirament Act, and
interest on refunds of taxes (see footnote 2 )
Less than $50,000.
•
Table 9.- Railroad Unemployment Insurance Act
lU8.lt
1/-
Budget Receipts and Expenditures
{In mlllione of dollars)
Fiscal year
or month
Excess of
receipts, or
expenditures (-)
2/
Receipts
Expend Iturae
Bailroad
unemployment
insurance
contributions
AdmlnlstratiTe expenses (Bailroad
Unemployment
Insurance Administration Fund) k/
6.8
8.5
I9I1I1
-U.l
2.1
2.1
-2.7
I9I15
.6
10.3
12.1
13.2
-.2
12.9
19ltl
I9U2
19113
19lt6
8.9
1.2
.It
8.5
.7
.5
-.It
.U
.It
-.h
1-9
.u
.It
.5
.5
.U
111.
October. .
November.
December.
19119-January..
Source:
1/
2/
^
.
.9
12.6
7.5
3.9
6.0
11.7
8.9
-8.9
-1.2
lit.
-.6
.
111
3.li
2.5
2.2
3.2
3.7
3.5
.5
I9I18
August. .
September.
10.9
6.U
8.2
^
13.1
13.7
15.1
19"i7
19118-July
^
Transfers to Bailroad
Unemployment Insurance
Account, Unemployment
Trust Fund
-.It
2.U
*
.It
lt.5
5.5
9.6
9.2
9.7
2.6
Dally Treasury Statement.
Operated as Railroad Unemployment Insurance AdjBlnistration Fund.
Excess of expenditures is covered by appropriations by Congress
Pepresents 10^ of contributions under the Bailroad Unemployment
Insurance Act; the remaiiiing 905t is deposited in the Railroad
Unemployment Insurance Account, Unemployment Trust Fund. (See
Table 7 under "Trust Accounts, Etc.") .
k/
^
Consists of expenditures from appropriations made specifically for
administrative expenses relatiJDg to the Railroad Unemployment Inaurance Act.
Represente exceea funds of the Bailroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 19ltO).
Lees than $50,000.
.
.
.
.
.
:
.
'
Treasury Bulletin
TRUST ACCOUNTS, ETC.
Table 1.- feummary of Receipts and
Expenditures of All Trust Accounts, Etc.
Table 2.- Receipts, by Prlclpal Accounts
(In nllDona of doll&rej
Net
racolpta,
or (•xpeodIturaa
Fiscal joar
or Month
(
Expandlturae
2j
Pacaipta
Fiscal year
or month
i/
Other
(-)
I?!.!.
908
in?.
-1,613
-338
-2,S22
791
WW.
1QI|£.
W9
1,757
Wkl.
l.,830
19''2.
'',129
2,905
1,287
3,178
l,09'i
U,292
7,307
6,29k
19Wi.
5,200
3,668
3,362
3,060
"•,568
8,236
igW.
3,985
3,750
7,3l'7
19't7.
6,810
19'»8.
I9U9 (Batlmatad) 5,957
1950 (Eatlaatad) 8,7991/
2,665
3,218
1,333
1,925
3,95''
3,00li
5,085
7,086
ISk".
191%.
-1,103
2,706
7,712
6,2UU
9,515
19>'9 (Eatiaatad)
19V3 (Eatlaatad)
-3,010
18
5,957
8.799
2,719
2,000
6,21.8
6,782
8,967
8,781
August..
Septaabar
-178
10
-570
817
707
173
526
121
327
169
576
995
697
m6
7U3
Octobar..
NoToabar
Cacaobar.
-lUU
-30
287
690
311'
6
16U
300
U25
557
731
>»31
-718
-321
238
-20
579
19 W- July
I9U9- JanusT7 ,
Federal
Old-Age
and SurTlTora
Insurance
Trust
Fund
2,665
3,218
7U
employees* Miscelrt-tlreaent laneous
funda
2/
1/
Life
Insurance
Fund
91
92
90
175
222
37k
501
557
kio
50k
337
351
1,038
32li
1,399
1,567
1,508
316
905
2,127
7,712
6,2W.
9,515
1,386
1,623
1,807
312
323
797
1,280
1,289
1,313
2,351
1,5CU
7kO
103
90
6lk
578
59k
1,666
792
k,17k
1,985
615
T78
1,172
1,102
709
92
92
686
832
30I1
63
383
19
3U8
Ut
225
19
59
W
6
39
k
2k7
2k
27
59
72
28
227
100
U2
32
38
k
29
37
••,386
287
690
31''
358
108
560
19''9- January..
238
38
1/
k6
Coremaent
ment
221
273
October.
November
December.
2/
1,111)
l,2klt
Gorem-
l,2l4
1,395
720
1,031
i/
127
National
Service
Life
Inaurance
Fund
l,"'3l'
817
707
173
Source
Uneaployaent
Truet
Fund
Ibb
19U8-July
August. ,,
September
Actual flgurae from Dalljr Traaaury Stataaant;
astlaatat b&aad on 1950 Budgat docjntent, Including affact of proposed laglslatlon.
Becelpta Includa tranafar of $3,000 million In
June 19US, from Ganaral Fund to 7oralgn Economic
Cooparatlon Trust Fund, establlehad In accordance
«lth the Economic Cooperation Act of 19l>8; expenditures for fiscal year 19^9 Include expenditures from this fund.
Ballroad
Ketln.nant
Account
)
5,085
7,086
3,95''
19l>5.
In nllllona of dollars
1,'»32
72
91.
97
3
310
50
33
66
3
26
30
3
28
56
ko
36
29
30
(Sams as Table 1)
Consists of Alaska Railroad, Canal Zona, ClTll Serrlce, and Foreign Sarrloe
retirement funds.
Incli^ss Adjusted Service Certificate Fund, Foreign Xconomlo Cooperation
Trust Fund, District of Colvmbla, Indian tribal funds, Insular possessions,
Incraasnt resulting from reduction In the weight of the gold dollar, and
seigniorage on silver.
Total Includes $26o million for Health Insurance Trust Fund under proposed
legislation.
Less than 4500,000.
Table 3.- Investments, by Principal Accounts
(In ollllona of dollars; negative figures are excess of redemptions)
Federal Old-Age
and Survivors
Insurance Trust
Fund
Fiscal year
or nonth
Ballroad
Retirement
Account
Unemployment
ll-ust Fund
19kl
19k2
19k3
19U1
19k5
1,338
1,925
3,0OU
k,129
5,200
6k2
821
1,035
1,172
1,137
-5
18
86
IkO
182
19k6
19k7
1,002
1,19k
1,19k
156
lk8
569
102
kk3
IQkfl
3,668
3,362
3,060
19k9 (Estimated)
1950 (Estimated)
2,719
2,000 2/
1,370
2,lkl
365
19k8-July
August
September.
October....
November
December .
,
.
.
526
121
327
6
16k
-26
300
300
(Same as Table 1).
See footnote 1, Table 2.
Government
Life
Insurance
Fund
30
k7
Government
employees
retirement
funds 1/
73
97
IkO
280
393
399
kl>6
2,053
1,23k
k6l
k7
60
32
309
282
363
328
k6l
209
262
365
-1,700
36
21
kl2
555
326
-21
-21
-30
121
-ko
23
10
15
227
11
50
-2k
-23
-35
167
15
10
15
5
9
563
866
1,228
1,503
l,k37
19k9- January ....
Source:
1/
National
Service
Life
Insurance
Fund
-90
2/
3
35
31k
862
1,97k
61
60
Adjusted
Service
Certificate
Fund
8
7
3
17
Total Includes $26o silllloD by Health Insurance Trust Fund under propoeed
legislation.
Less than »500,000.
:
.. . .
2
.
2
-
8S
U
'
,
March 1949
TRUST ACCOUNTS, ETC..
Table 4.- Expenditures Other Than Investments, by Principal Accounts
(In millions of dolXare; negative figures sre excess of credits)
Federal
Old -Age and
SurrlTors
Insurance
Trust Fund
Fiscal year
or month
Pallroad
Retirement
Account
Unemployment
Trust
Fund
National
Service
Life
Goremment Government
Instirance
Fund
employees
retirement
funds 1/
Life
Insurance
Fund
Foreign
Economic
Cooperation
Trust Fund
2/
Redemption,
or sale ( - )
of eecurltloB
of Goremmsnt
corporations,
etc
in the
market
Special
deposit
accounts
Miscellaneous
1/
(net)
.
(net)
19'tl
WltS
1.9''3
19>i>t
W"*?
igiifi
wUt
19'i8
I9U9 (Estmatei)
1950 (EetlDBted)
1H9
2,905
1,287
3,178
1,09U
91
137
177
217
267
121
126
130
1,568
3,985
3,750
358
152
173
6,21.8
656
325
2,2ll5
289
317
963
6,782
,170
,3'»9
1.69
70
111
65
28
27
19
21
17
183
192
196
226
19li8-Julj
131*
lUl
U66
.,1U6
869
859
559
7U
1
'•5
6
31
30
78
85
3''
103
128
25
151
280
282
302
50
267
l,57l<
6117
67
323
zkk
1,073
1,23't
372
367
70
27l»
56
72
ao
22
23
.
.
1*25
52
.
.
57
61
.
557
731
53
.
23
23
23
81
87
27
27
18
18
19
579
5''
alt
112
27
16
5I'
(Same as Table 1)
See footnote 1, Table 2.
Established in accordance with the Economic Cooperation Act of 19^8.
3,000
-129
-271
-508
-1,669
2,87l<
1,553
95
359
-107
383
290
1*12
26
22
113
5
"•3
-3U
23
25
23
•
3''7
l»99
-5
1
-3
237
26
277
52
52
51
576
-852
1,809
69U
30
337
U61
260
233
U28
1(16
191+9-january ....
Source
63
.
August
September
October,
November
December
555
377
176
61
71
-109
-72
-56
-I.
3
71
Includes Adjusted Service Certificate Fund, District of Columbia,
Indian tribal funds, expenditures chargeable against Increment on
gold, etc.
LesB than $500,000.
Table 5«- Federal Old-Age and Survivors Insurance Trust Fundi/
(In millions of dollars)
Expenditures other than Investments
Eecelpte
Salaries
Interest
Appropriations
by
InvestCongresB ments
Fiscal year
or month
Reimburse'
Trans
fers
from
General
Fund
Benefit
pay-
ments
ment for
administrative
expenses
2/
and
expenses,
Bureau of
Old-Age
and
Survivors
Insurance
Assets, end of period
Ret
Increase,
or decreaae
Uioexpended balance
Investnente
(-),
In
assets
To
credit
of fund
account
In
disbursing
officer's
account
1/
1937-19''0
1,792.1
Wlia...'
19'tli
966.6
1,217.9
1,395.3
WltS
1,''33.8
19't6
1,386.0
1,623.3
1,807.U
WH
7'tlt.l
19'>3
19''7
WW
(Estimated).
1950 (Estimated).
19't9
19lt8-July
.
October
Norember ....
December. .
.
19U9-Jajiuary
Inception through
January 19U9
.
^
'',385.9
.
.
I17.''
87.1
56.0
71.0
87.''
103.2
12.3
l,7't''.7
l,7li'i.7
611.3
652.9
829.6
2,397.6
3,227.2
l,Oltl.l
11,268.3
5, lili6.lt
It,
1,178.1
6,613.11
6,5't6.3
7,5''8.7
8,71*2.3
91.2
137.0
176.8
217.2
l'i9.3
26.8
26.8
27.5
J.SH.6
32.6
UO.3
123.9
266.8
357.9
239.8
320.5
26.9
l,'t59.5
.U
li66.U
I125.6
1,616.
163.5
190.6
.7
559.1
511.7
15.6
13.0
l,75'».o
U, 120.0
228.0
262.3
3.5
3.6
655.7
602.0
2,188.0
13.5
13.9
51.5
52.2
I17.O
I16.9
11.0
51. !•
•7.5
1.1
1.1
1.1
.2
52.2
53.2
53.6
US.
63.1
379.6
8.0
59.0
357.6
107.7
58.8
357.6
7.1
38.0
38.0
13,393.8
12,2117.3
llt7.8
.3
3.0
100.7
1,1112.2
I1.3
2,2llll.8
1,738.1
2,380.6
3,201.6
35.1
1,309.9
1,238.2
382.5
19.0
63. 1>
August
September.
Source:
1/
2/
1,985.3
1,705.0
688.1
895.6
1,130.5
1,292.1
25.2
1,167.0
1,028.0
1,157.0
311.
l,2li8.3
37.1»
"l
7,61tl.lt
8,798.1t
10,0lt6.7
236.
5,"t08.9
9,936.8
6.1
10.8
.5
6.2
5.2
7.0
16.1
20. It
2U.5
21. It
32.0
35.1
1*3.5
1*9.2
lt8.8
7I1.9
7.3
35.0
y
y
I1O.3
1,329.5
2,lltl.l
11,376.2
13,517.3
11, 306.
I12.9
11.8
330.3
10,058.5
10,388.8
-32.
10,356.11
9,916.8
9,916.8
10,281.8
59.0
392.0
5.1
80.0
69.6
10,255.8
10,255.8
10,555.8
lil.O
66.1*
3119.0
95.1
62.7
70.8
6.7
13,'t'i7.7
69.6 i/
69.6
y
2.9
3.5
3.1
30I1.I1
I19.3
1.1
1.1
1.1
5I1.2
10,363.1
10,667.5
10,721.7
511.2
50.1
1.0
3.1
-16.1
10,705.6
10,555.8
82.2
67.6
2,688.2
2,378.7
226.7
82.9
10,705.6
10,705.6
10,555.8
82.2
9j.6
I18.5
(Same as Table 1).
Includes tranaactlooa under the predecessor Old-Age Raeerre Account.
Under Section 201 (f) of the Social Security Act ATiendaents of 1939.
Under proTlslone of the Labor-Federal Security Appropriation Act,
U/
191*7, these salaries are payable directly from the Federal Old-Age
and Survivors Insurance Trust Fund.
Distribution of unexpended balance not available.
Lees than $50,000.
. ...
7
..
2
k
.
6
k
k 3
kk
9
8
1
k
k
9
8
k
.
71
k
1
Treasury Bulletin
10
_TRU3T
ACCOUNTS, ETC.
Table 6.- Railroad Retirement Account
(In allllona of dollarB)
Hteaipti
71acal yoar
or Bonth
Total
i/
193*-19Ml.
19kl
igui
ISkS
igkk
390.8
116.1
lUi.O
220.6
272.6
Wk?
32l>.l
WW
Appro pr5atlona by
Congrees
322.
T97.l«
19^9 (Eatlaated).
19^ (Eatlsitad).
615.3
777.9
56i>.6
191.8- July
56I..6
56U.6
In dleburalng
officer 'a
account
90.1
138.1
10k.
19k.
13''.''
333.0
318.5
15.2
19.9
38.9
Ikl.U
152.0
173.3
222.3
182.6
160.1
ikg.i
575.1
515.6
675.7
8ek.9
1.399.9
500.5
657.0
805.5
l,37k.5
50.7
62.0
288.6
316.6 a/
326.7
k6l.3
1,726.6
2,187.9
1,702.8
2,163.7
19.7
22.5
23.1
5kk.9
-23.0
l,9kk.8
l,922.k
1,899.5
1,700.5
1,679.5
1,658.5
217.1
217.1
217.2
27.2
25.8
23.6
1,876.7
1,853.7
1,830.6
1,708.0
l,68k.5
1,661.5
lk5.3
lk5.k
Iks.k
23.
2l>.2
715.9
anta
To credit
of appropriation
79.k
7k .0
91.5
178.0
II1O.8
191*8
Itoaxpandad balance
Inraet-
298.7
121.2
126.2
130.5
21U.8
262.7
308.8
292.1
298.2
758.5
Aaeata, and of period
Ret
Increaaa,
or dacreaaa (-X
in assata
5.9
2.5
3.1
5.8
9.8
38I..9
Wk?
Auguat
Sapt«aber.
InTeettenta
113.6
312.0
Expenil turos
other than
InrestaantA benaflt
pojMenta
.
92.1
92.1
87.0
-5.0
17.7
-22.
1.8
10.5
10.8
2.5
1.6
k.l
1.1
U.7
12.8
13.k
Ik.
.5
.9
17.8
18.2
23.9
1.2
1.5
23.82/
H
2/
2k. 2 2/
October.
.2
.2
Iforaaber.
.3
.3
23.0
23.2
Decaaber.
.3
.3
23.
-22.8
-23.0
-23.1
23-5
-23.1
1,807.5
1,710.0
73.k
2k.
1,807.5
1,807.5
1,710.0
73-k
2k.
19U9-Januar7 ,
.k
Inception through
January 191*9 •
•
Source:
1/
3,"<65.9
•
1,658.
126.8
3,339.1
(Sane oa Table 1).
Flffuree differ frco thoae shewn In Table 2, "Peceipte, by Principal
2/
^
Accounta", for the raaaon that Table 6 reflecta appropriations vben
they are aede vhlle Table 2 ehowe the ainounta when transferred to
the trust acconnt.
•
23.8
23.7
Dlatrlbutlon of unexpended balance not arallable.
Includes $k.7 million for salaries and expenaes, vhlcb vould be
financed directly frcm the trust account under propoaed legislation.
Less than $50,000.
Table 7.- Unemployment Trust Fund
{In mUllons of dollars)
Expendlturee other than Inveetaeiita
Pacelpta
State
accounts
Fiscal year
or Booth
Total
2,729.3
892.0
1,096.0
1,217.7
l,3k9.3
19k8
1,507.8
1,279.8
1,289 .k
1,312.9
1,256.0
1,009.9
1,005.3
1,007.3
19k9 (Istlwted).
1950 (Eatlaated).
1,172.5
l,k32.1
982.0
1,228.0
k3.7
22k.
19.1
35.1
22k.
15.0
27.7
227.2
100.2
27.5
227.2
lk.2
19k5
19k6
19k7
19k8-July
August
Septeaber..
October.
Roreaber
December.
19k9-Januar7
Inception through
January 19k9
Source:
1/
2/
28.5
TranefoPB
Contri- fore
froo
butions troa
AdolnlaStatae tratlon
2/
Fund U/
a/
kk.S
61.3
76.3
92 .k
1.8
Inveatinentfl
Statas
109. k
7.5
3.9
6.0
11.7
1,133.1 1,116.7
k33.2
555.1
368.1
377.1
17k. 3
176.2
60.6
60.0
118.8
116.2
127.6
130.6
8.9
9.6
9.2
9.7
123.6
lk3.6
lk6.9
165.3
70.1
71.3
,lk5.9 1,128.3
869.5
8l7.k
858.9
798.1
181.5
Ik.
9.0
5.1
890.0
962.7
,169.8 1,100.0
18k.
.5
876.9
107.2
75.5
Assata, end of period
net
Increase,
or decreoae
UnezpeDded
balazice
Trans f era
to Fallsurance
road Uneni' Account 1/
in
ploynent
aasete
Insurance
Benefit
Account 3_/ pajaienta
1.8
10k.
Ik .6
17.8
9.1
1.8
.6
.k
.k
.5
.8
17.2
51.7
60.8
72.7 6/
69.31/
l,72k.9
55«.«
In dleInrestburelng
In
ments
offitrust
account cer's
account
2/
1,72k.
2,283.7
3,150.1
k,372.5
13.
5,878.8
1,710.0
2,273.0
3,139.0
k, 367.0
5,870.0
l,k36.5
133.9
kl9.9
k5k.0
7,315.3
7,kk9.1
7,869.0
8,323.0
7,307.2
7,k09.0
7,852.0
8,298.k
7.8
31.7
11.8
18.1
209.8
262.3
8,532.8
8,795.1
8,507.6
8,769.9
25.2 2/
25.2 2/
8,268.k
8,389.k
8,3k9.k
22.8
866.
l,222.k
1,506.3
8.0
7.8
k.O
8.5
l.k
2.7
3.3
1.5
.3
.3
8.k
5.3
6.5
1/
66.5
106.7
61.1
3.9
k.2
k.k
-26.8
k.l
70.5
110.9
65.5
-k6.k
8,296.2
8,kl0.0
8,363.7
U.2
5.0
2.3
3.0
52.5
k.O
5k .0
6.8 6/
86.0
56.5
60.7
81.1
76.1
5.0
-28.8
166.5
19.1
8,33k.
8,501.3
8,520.k
8,31k.k
8,k8l.k
8,k96.k
18.7
17.5
21.9
1.7
2.k
2.2
.1
111.7
102.1
9.6 6/
-83.2
8,k37.3
8,k06.k
29.2
1.7
212.1 6/
8,k37.3
8,k37.3
8,k06.k
29.2
1.7
8.5
28.
lk,2kl.9 12,13k .6
Wlthdrawala
82.6
k9.0
67.
Be.k
96.5
10k. 1
Ballroad
Ifeonploymont In-
Interoet
2,857.9
1,113.9
l,2k3.6
1,398.5
1,566.9
19k3
19kk
State eu;counte
Trane
Depoelta
by
States
1936-19kO.
19kl
19k2
Pallroad Unesiploynent
Insurance Account 1/
.1
l,0k7.8
5,80k.6 5,k85.k
( Sane as Table 1 )
Excludes Interla adrance of $1^ ollllon frco the Treasury azvl subsequent repajment, both taking place In the fiscal year I9U0.
BepreBente 90f of contrlbutlona under the Railroad Unemployment Insurance Act; the remalnlne 10$ le used for admlnlstratlTe expenses.
(See Table 9 imder '*Bud^t Becelpte and Expenditures") t
Pepresente aaounte transferred from States to Railroad Unoaployraent
Insurance Account equlTalent to aaounts of taxes collected with respect to period froB Januiary I936 to June 1939, IncluslTe, from
employees and sEployere who come vlthln the purrlew of the Railroad
Ubemployaent Insurance Act.
a/
1/
107.2
U3.8
18.3
Represents excess funds of the Railroad Uosmployment Ins\irance
Administration Fund (under Act of Oct. 10, I9U0)
Tor railroad unes^loyment benefits and refunds.
Transfers to tlie Railroad Ubamployaent Administration fund are
actual transfers of $2.1* million in NoTonber
Included as follows:
I9li8, and $2.6 million in January 19^9, and estimated transfers of
tll.O million in fiscal year 19^9 snd $1.3 million in fiscal year
19^, representing adjustment for orercoUectlondue to retroactive
change in tax rate.
Dlatrlbutlon of unexpended balance not aTailable.
Less than $^,000.
March 1949
11
TREASURY CASH INCOME AND OUTOO.
Actual figures In these tables are based on the Dally
Treasury statement, and have been revised to agree with
for capital transfers.
the changed reporting prooedure for refunds of reoeipts and
as outlined in Budget detail.
Table 1.-
Suiranary
Budget document,
of Cash Traneactlons
(In millions of dollars)
Fiscal year
or month
Estimates are based on the I95O
Including effect of proposed legislation
Treasury Bulletin
12
TREASURY CASH INCOUE AND OUTGO
Table 3.- Derivation of Cash Budget Expenditures
.:
.
.
.
,
,
March 1949
13
TREASURY CASH INCOME AND OUTGO.
Table 5«- Derivation of Cash Borrowing or Repayment of Borrowing
(In mlU-lone of dollare)
Increase or decrease
In Federal aecurltlee
outstanding
,
Fiscal year
or month
Public
debt
Guaranteed
securities
19ltl
5,99''
81.1
lote
Wl
19't3
23,
6l4,?7U
-1,B02
-U68
Wl*!!
61»,307
-2,1*77
loUj
57,679
-1,190
lgU6
rM
loW
10,7lt0
h3
-11,136
-387
-16
-5,991'
{SstlmatedJ
1950 (Estimated)
iglig
19U8-July
Autfuet.
.
September
-723
356
-2k
1,082
-32U
-362
-18
-227
October
November
December.
.
19I+9- Janufli7
!^
.
3
(
-
Noncash debt transactions
Less:
Net InveetBjente
In Federal
securities
Total
Federal
By triiet
accounts
securities
6,835
21,659
63,806
61,830
56,U39
Equals:
Net cash
borrowing
or
repayment
of
borrowing
Plus:
)
By Ck)vermnent
corporations
1,338
1,925
39
2,006
3,1*61
3,001*
U,883
6,738
I*,
203
206
10,783
-11,523
-6,010
3,1*09
1,391*
3,668
3,362
3,060
-7U7
359
3,11*5
2,Ull2
2,719
2,000
1,1(22
7,892
635
-U
-1
1,063
-328
-363
2
-225
5
50
29U
-2
291
38
192
350
-179
-19
-198
11*8
133
359
129
5,200
32!*
58
81
203
-11*9
-59
-135
-150
-5
-3
6
u
-6
-21
-19
-15
12
Ik
-15
-Ik
-Ik
105
-13
The lesuance of these securities la treated as a noncash budget expenditure at the time of Issuance and as a cash budget expenditure
at the time of cash redemption. The figures ehovn are net issuances,
or net redemptions { - )
See footnote 1 to Table 1, preceding.
The issuance of these securities Is treated as a noncash deduction
from budget receipts at the time of Issuance and as a cash deduction
7,1*39
28
1*35
sol*
11*
66
31*2
lllO
-15
-28
(-)
2/
19
•
891*
-913
of non-
guaranteed
Becurities
of Federal
agencies
-95
-190
-277
131*
2,11*0
Cash
Issuance
7
131
207
86
1,793
-1,229
327
Net transactions in
guaranteed
securities
not reflected in
Treasurer's
accounts
130
213
-970
-39
-10
159
178
-69
65
300
-20
-12
-7
-5
-108
5
526
121
16I.
Issuance of Federal securities resulting from budget expenditures, Interest
etc., or refunde of receipts
savings
Armed
Notes for Excess bonds and
profits Treasury
forces Adjusted Interleave
service national tax
bills
bonds
bonds 1/ Bank and refund
Fund 1/2/ bonds i/
1/
5,1*32
19,652
60,250
56,757
1*9, 1*71*
U67
559
123
-19,389
-7,280
575
133
-3,759
1*50
68
-2,011*
66
37
7U
-2
-I163
1*2
35
-687
36
-265
77
-1
-1
-1
76
-52
-398
1*5
502
-11*2
-59
at the time of cash redemption. The figures shown are net
issuances , or net redemptions ( Accrued discount on eavinge bonds and bills less interest paid
on savings bonds and bills redeemed.
Includes borrowing through Postal Savings System.
Less than $500,000.
]
kj
^
•
Table 6.- Summary of Cash Operating Income and Outgo by Months
(In millions of dollars)
Annual total
Calendar year
Apr.
Ma;
June
July
870
2,170
2,327
Aug.
Sept.
2,596
5,562
6,015
5,276
Calendar
year
Fiscal
year l/
Cash operating Inccmie:
19lt2
2/
896
2,915
191*3
19W*
191*5
191*6
•...
191*7
191*8
1,1*76
3,101*
1*,183
2,332
1,030
3,372
3,238
3,371
2,803
2,71*6
U,886
2,1*1*6
3,U2
1*,666
2,969
1*,877
2,268
3,162
1*,667
5,96>>
7,988
5,0U»
7,017
5,506
7,390
8,027
8,1*78
7,21*9
7,71*0
8,11.6
8,1*36
8,829
It, 562
7,693
7,686
6,326
1,61*8
2,069
l.,663
3,319
3,61*2
3,161*
6,332
6,016
3,721*
1*,275
5,293
6,675
7,001
3,032
U,068
5,61*9
2,366
3,850
2,965
3,821
l*,9l*7
l*,5l*8
5,585
6,019
2,228
11,1*82
2,1*02
7,620
7,1*32
8,561>
7,677
7,765
3,600
2,761*
1*,585
2,213
2,212
2,809
2,683
1,107
2,705
2,877
3,030
2,813
2,781
5,852
5,538
2,589
2,280
3,305
3,190
3,987
1*,106
1*4,971
6,178
7,625
7,886
5,921
7,766
7,373
6,970
7,823
8,178
88,987
91*, 810
71*5
1*,328
1*,156
15,205
37,919
1*8,191*
1.9,608
1*1,635
25,171*
1*7,861
50,21*0
1*3,839
1*3,591
1*5,1*00
3,683
191*9
Cash operating outgo:
191*2
2/
6,396
8,009
7,118
3,700
8,786
3,876
2,715
2,U97
2,83U
3,1*87
2,961
2,726
3,1*18
-5,601
-I*, 622
•1*,920
-2,327
191*3
6,1*97
19W
7,537
7,729
191*5
191*6
1*,668
191*7
191*8
191*9
3,853
7,750
2,71*5
7,512
2,760
3,063
2,397
2,781
2,507
l*,781i
5,701*
l*,358
-5,321
-3,325
-l*,81t7
-l.,385
-2,1146
-I*, 922
-1*,601
.l.,5e6
-2,813
-379
-U,986
1*,908
1.,1U1
-1*13
-35
102
1(62
71*8
-827
-361
1*,129
3l',501
78,909
93,956
5,913
l*,75't
5,221*
86,11*2
95,181*
2,91*1.
2,81*1.
2,269
3,578
1*1,399
61,738
2,570
2,796
2,1.90
3,1*66
3,1*76
38,616
36,957
36,931
36,496
-5,1*33
-5,1*12
-U,8lU
-5,061
-U,U96
-11,189
-1,971
-51,068
-53,735
-2,61lO
-1*6,616
-36,531*
-1*6,095
-1,721*
236
-17,899
5,703
6,659
8,903
3,272
2,630
3,073
3,91*3
2,91*1
3,229
-I*, 171*
U,U76
U,368
1*3
-3,368
-2,131
-1,671
-1,050
1,6U1
1.1
221
l*,22lt
Net cash operating IncoaEe,
or outgo ( - )
191*2
191*3
2/
-1*,005
-U,905
2,81*3
1,889
1,785
-1,636
368
1,773
1,231*
191*7.
191*8.
1,106
1,986
1,1*60
2,621*
1,82U
2,601
-835
k
191*9.
8I19
I9UU
191*5
191*6
1/
2/
Fiscal year ending June 30 of year Indicated
Monthly data prior to July I9I.2 not yet available.
aval
-5,671*
-3,101.
-161
51*1*
-896
578
723
18
1,1*38
-516
816
-275
510
-118
-19,291.
8,011*
-l*l*,9l*5
..
.
Treasury Bulletin
lU
GENERAL FUND OF THE TREASURY.
Table 1.- Status of the General Fund
(la
BuUlon,
tnA of riacal
Tvar or aonth
llUou
doUan)
of
Dapoalta in fadaral
B«««rT« Ban^
COiil,
ourr«iio7
ATallAU*
OoU
fnd*
In proceaa
of coUactlo
collactlaaa
2,633
2,991
9,507
20,169
2* ,698
12,993
962
1,773
305
310
283
*70
*22
Ik, 238
*38
3,308
*,932
76
119
2,081
1,7*1
2,703
295
237
275
*33
397
*37
5,07*
k,832
5,583
1,608
1,601
1,123
110
77
90
1,976
1,621
1,909
251
2*6
251
*03
*28
*22
*,802
*,385
*,208
1,51*
179
1,735
3*6
383
k,659
19*5
i,oe*
603
1,038
i,**s
1,500
19*6
19*7
19*8
1*,708
3,730
5,370
l6o
1,023
1,073
2*3
232
191
1,006
1,202
1,928
123
Ausuat.. .,
Saptaaber.
5,506
5,229
6,oeo
l.OTO
1,060
1,068
188
195
191
1,755
1,919
1,66*
Octobar. ..
HoToabar..
Dacaaber.
5,205
*,8l3
*,630
1,078
1,076
1,077
182
191
181
19*9-Jain>az7...
5,0*2
1,0*6
222
Sourca:
1/
aM
BolAOCa In
the Genaral
rurd
179
*52
6*3
607
*21
701
7*8
761
666
558
19*8-J'uljr
UatUltlaa
1*3
265
533
507
289
28*
159
150
15*
150
19"
i/
OUiar
dapoalta
661
1,679
7,667
18.007
22,622
S,8l2
3,**3
10,1*9
20,775
25,119
19*1
19ka
19*3
Dapoaita In
apaclal
dapoaltarlaa
U7
Dalljr Traaaury Stataaent.
On accoxnt of vithhald taxaa and aalaa of Goranmant aaoiffitlae.
Table 2.- Analysis of Change In Balance in the General Fund
(Id Blllicoa of dollara)
Hat raoalpta of trust aooounta, ato., or azpandlturaa (-)
?laoal 7aar
or BCDth
Rat Inoraaaa In
Oanaral
rund
balanea,
or
dacraaaa (-)
B\^eat
aurplua,
or
daflelt (-)
i/
Hat Inoraaaa
In
public
dabt,
Truat
aooounta
or
daoraaaa (-)
2/
InoraoAnt
on gold
Seigniorage
00 eilTer
oellaneoufl
f WMla i/
-6*7
-372
-367
-95
-359
107
555
-507
-1*7
129
-561
-88
-113
-*3
56
-5
3*
TOO
-289
9
-lU*
-30
-1*9
5
-1
*
-33
-718
3
U
-3
17*
-158
-718
-321
-2*2
-9
-71
-6,159
-21,*90
-57,*20
-51,*23
-53,9*1
5,99*
23,*6l
6U,27U
6*, 307
57,679
908
-1,613
-338
-2,222
791
37
66
92
1*8
675
20
19*6
19*7
19*8
-10,k60
-10,930
1,62*
-20,676
75*
5,*19
10,7*0
-11,136
-5,99*
-52*
-1,103
2,706
-30
-372
2,965
2*8
1*1
-2*1
751
-1,*62
362
1,67*
l,08e
-32*
-362
-178
,
Octobar. .
Horaabar
Dacaabar.
-781
-U17
-177
-58*
-275
*10
-227
*6
29*
*51
611
-179
.
19*9-Januar7 .
Sourca:
i/
2/
.
Clearing
aooount
852
-1,809
-69*
-2,87*
-1,553
7*2
358
6,515
10,662
*,529
.
Salee and redeaptlona of
obllgatlona of
OoTenaent oorpomtione, etc.,
in the narket
-2
116
26*
503
1,669
19*1
19*2
19*3
19**
19*5
19*8-Jul7
Auguat.
Saptaaber.
Special
depoelt
aooounte
and ale-
10
-570
Dally Treasury Stataaent.
Figuree for f local year 19^ reflect $3,000 million transfer to
Foreign Econcmlc Cooperation Truat Fund; figuree for f local year
19^19 exclude ezpendltureo fron that fund.
Figuree exclude aaounte
for public debt retlreaont vhlcb are chargeable to the alnklng
fund, etc., under opoclal prorleiona of lav.
Conslote of Federal Old-Age and SurrlTore Inouranco Truot Fund,
Rational Serrlce Life Inaurance Fund, Unemployment Truot Fund,
Pallroad Petlreaent Account, Gcrenment lnourance anl retirement
fxoide, Foreign EcockmIc Cooperatlcn Truat Fund, axA other trust
accomita ^ etc . ( eee footnote 3 )
^
U/
^
*
1*
-163
3*0
Conslate of Public Vorka Admlnletratlon rvrolTlng fund, epeclal
depoelts (net), and, prior to July 1, 19'*^. tranaactlona In cconodity
food otaope by the Department of Agriculture. Beginning on that date
euch traneactloixB are clasalfled In the column "Truat accounto".
Net receipts In thle colwm constitute net aalea, and net expendltureo constitute net redeaptlone of obllgatlona.
For outstanding checks and telegraphic reports frcB Federal Beserre
Banks; excese of receipts, or expenditures (-).
Less than $500,000.
March 1949
15
DEBT OUTSTANDING™
Table 1.- Summary of Federal Securities Outstanding
(In mllllone of dollars)
-
..
Treasury Bulletin
l6
DEBT OUTSTANDING.
Table 3.-
Interest-Bearlng Securities Guaranteed by the United States Government-^
(In allllona of dollar*)
Jlonnarlcetablo
Bod of flacal
year or ncnth
COOKldStj
Credit
Corpora*
tlon
Total
r<d«rel
Fara
Corporation
radaral
BoualDg
AdBlalatratlon
19*1
19*2
6,360
6,360
U,51.9
'•,51'9
19''3
'",092
Wkk
W*?
1,516
*09
3,908
1,190
19k6
k67
••3
"•3
19">7
83
19*8
69
38
27
I9W-JUI7
51
August. ..
Septsaber.
">7
October..
HoreBber.
December..
hS
,
19*9- January..
U6
53
51
32
696
701
kl2
kl2
1,269
930
930
17
21
23
2k
3*
Ovnan*
Loan
Corporation
2,k09
1,563
1,533
755
Public
Bousing
Adalnlatratlco
226
Ilk
Uk
Baccnatructlon
Flnanco
Corpora tlon
l,7kl
1,219
896
Ci—ii.iiUty
Credit
Corporatloo 6/
150
375
38
27
k2k
k5
ks
kzk
k5
kz
Ik
lU
Ik
Ik
Ik
Ik
37
33
32
37
33
32
Ik
Ik
Ik
Ik
Ik
Ik
3*
39
37
3*
39
37
3*
12
Source: Dally Treasury Statensnt.
Footnotes at end of Table k.
Table 4.- Special Issues to United States Government Investment Accounts
(In BlUlona of dollars)
End of flaoal
jear or Boath
68
183
326
375
Bee ooa true
tlon Finance
Corporation
2/
115
176
.....
.
March 1949
17
DEBT OUTSTANDING.
Table 5.- Computed Interest Charge and Computed Interest Rate on Federal Securities
Public debt and guaranteed eecurltlea
End of fiscal
year or month
Interest-bearing
debt outetandlng
Computed
annual
Interest
charge
(Mllllone of dollars)
191(1
^,7k7
igk?
76,517
19'>3
139A72
IShk
201,059
256,766
19'>5
I9I16
19''7
19'»8
191.8- July
August.
September
.
1,335
1,729
2,759
3,869
l.,969
Public debt 1/
Computed
Interest
rate
Computed
annual
Interest
charge
In teres t- bearing
debt outstaDdlng
(Percent)
{Millions of dollars)
2.U38
2.260
1.978
1.925
1.935
268,111
255,113
250,063
5,351
1.8,387
1,218
71,968
135,380
1,61.1.
2,679
199,5113
3,81.9
256,357
l*,961t
Interest-bearing
debt outstanding
(Percent)
6,360
1.67
5,371.
5,l'55
1.996
2.107
2.182
2.197
2.199
2.201
51
•7
5,357
5,376
5,'»57
1-995
2.107
2.182
251,219
250,921
5,517
5,517
5,513
2.197
2.199
2.200
251,168
250,875
250,518
5,517
5,516
5,512
5,536
Computed
annual
Interest
charge
(Millions of dollars)
2.518
2.285
1.979
1.929
1-936
268,578
255,197
250,132
250,561*
Guaranteed securities 2/
Computed
annual
Interest
rate
117
85
81
20
5
l.,5l.9
11,092
1,516
1.09
7
1
1
83
69
Computed
annual
Interest
rate
(Percent)
1.831.
1.861
1.968
1.335
1.321
I-UIO
1.758
1.921.
1.820
1.855
1.878
1.6
October.
November
December.
250,3118
250,300
250,391
250,579
2.212
1.8
2.211.
5,552
2.211
2.2IU
2.215
5,51*3
250,630
5,551
2.216
53
51
1.863
1.791
1.8UU
I9U9- January..
250,1*67
5,565
2.222
250,1.35
5,561.
2.222
32
1.977
Source:
1/
250, li 1(14
5,535
Dally Treasury Statement.
Treasury bills ere Included In Interest-bearing debt figures at face
sjnount, but for purposes of calculating the computed annual Interest
charge and the computed interest rate, the discount value Is used.
For the purposes of computing the annual Interest charge and
Interest rate on United States savings bonds. Series A-E are
considered to yield 2-90^ per annum and Series F Is considered
to yield 2.53*.
Excludes guaranteed securities held by the Treasury.
2/
Table 6.- Treasury Holdings of Securities Issued by Corporations and Certain Other
Business-Type Activities of the United States Government-^
(In millions of dollars)
End of fiscal
year or month
191.1
191.2
Total
2/
302
Commodity
Credit
Corporation
Economic
Cooperation
Administration
1.00
19'»5
7,535
10,717
12,169
1,950
900
1,591
191.6
11,673
191*7
19I18
11,91*6
1,301
510
2,789
1.1.0
2,870
2,769
2,809
U1.0
October
November
December
2,981.
3,220
3,953
508
676
875
2
83
191*9- January-
'*,158
1,001.
150
191.1.
191.8- July
August.
September
.
.
Source:
1/
Federal
Farm
Mortgage
Corporation
Home Ovners*
Loan
Corporation
1.1.0
holt
263
366
Public
EoUBlQg
Administration
Beconstructlon
Finance
Corporation
85
20
551
212
580
1,010
271*
2,531*
283
5,033
11.0
l<,079
191*3
EiportImport
Bank of
Washington
398
8,1*16
383
9,020
737
529
360
9,205
9,966
21*1*
362
362
362
362
362
352
908
203
192
183
868
171*
108
13
516
971
21
951*
231*
1
1
81.6
221
213
2
860
895
851*
Dally Treasury Statement.
The securities shown In this table were issued to the Treasury to
finance Government corporations and certain other business-type
activities of the Government, with the Treasury Itself raising the
necessary funds through public debt operations. To avoid duplication, these securities are not Included in the guaranteed debt
outstanding as shown in preceding tables
2/
^
31*7
Rural
Electrification
Administration
Tennessee
Valley
Authority
57
57
57
57
57
57
56
718
51*
91
85
136
731*
51.
759
51.
78I*
51*
819
5"*
81*1*
51*
31.8
176
205
632
31*8
671*
1/
51*
51.
Total includes notes issued by the Virgin Islands Company, beginning September 191*7, In amounts less than $1 million.
Botes Issued by the Reconstruction Finance Corporation and outetandlng In the amount of $9,365 million, inclullng interest,
were canceled on June 30, 19^8, pursuant to the Government Corporations Appropriation Act, 191*9-
Treasury Bulletin
18
STATUTORY DEBT LIMITATION
Section 21 of the Second Liberty Bond Act, aa
amended, provides that the face amount of obligations
lasued under authority of that Act, and the faoe amount
of obligations guaranteed as to principal and Interest
by the
held by
ceed
aggregate 1275 billion outstanding at any
Obligations Issued on a discount basin, and
subject to redemption prior to maturity at the option
of the owner,
are Included In the statutory debt limitation at current redemption values.
In
the
one time.
United States (except guaranteed obligations
shall not exthe Secretary of the Treasury)
,
Table 1.- Status under Limitation, January 31, 194Q
(la llllotti Bf toll«r«)
Nazlaoa Aaowit of McnrltlAi vhloh
of Iho S*coDd Llbortj Boid Act,
*/
*
^e ontttaadl^ at ugr sm* tlat, «sA«r llaltatloiii lap«i«d by Saetloa 21
a»«Bdo4
Aaout of Mosrlttoo ovtitaallic gsbjaot to nch otatstorr 4*bt Ilalt«tt«ai
D. S. 0«ToraB«at •curltlot loraod nndor th« Soeond Llborty Bond lot, at
275,000
ftB«ad*d
251,630
OoAraatood ••cvrltlot (osjladlB^ ttaoM held bj tho troaffuy)
36
Tatal aaoiut of ••eurlttoi ontataadlac nbjoot to itatatorj dabt lialtatlOB
851,86;
Baluieo loaoablo oador lialtatloa
Sourcai
23,135
Public Dtbt Sarrlea.
Table 2.- Application of Llnitatlon to Public Debt and Guaranteed Securities
Outstanding January 31, 1949
(In alllloBi of lollara)
Claaa of aaoorlty
Public dobt
latoreat-bearlBC aoeurltlai:
Karkotabla:
Troaiuj7 bllli
Oortlflcatoi of Indabtadnooa
Troaaury notoo
Traaaurj bonda - bank allglbla
Traatory boodo - bank reatrletad ly...
Poatal aaTlQ^ and Panaaa Canal bonda.
Sobjact to
lot Bubjaet to
atatatorjr dabt
tatstory dabt
lialtatloa
lialtatloa
.
Total aarkatable
Konaarkatabl a:
U. S. aarlofa bonda (currant radaaptlon valna).
Traaaury aarlo^i notaa
Depositary bonds
Araad fore as leara bonda
Traaivy bonde, InTasta^nt sarlaa
Total nonaarketabla
Special levnea to OoTamaeat a^enclaa and truat funds.
Total Interest-bearing sacurltlaa
Matured sacurltlaa on vfalch Interest has caaaad
Dabt baarlne no Interaat:
Tilted Stataa aarla^ ataaipa
Ixcass profits tax refund bonds
Spaclal notes of tha Dnlted Stataa:
Intanatlonal Monetary Pund aarlas
International Bank for Baconstructlon and Dsralopaant sarlaa
Onlted States notes (less cold reserra)
Dapoelts for ratlrsaant of national bank and Padaral fiasarra Bank notaa.
Other dabt b«arln£ no Interest
Total dabt bearing no Interest
Tbtal public dabt
Qnaraataed aacurltlee
Intarast-beArlnc.
Matured
12,133
29,630
3,596
61,803
1.9,636
162
156,798
55,352
".,618
I>li9
955
61, Till
31,760
250,273
320
55
7
1,U0
66
1,237
251.630
:
2/
Total guaranteed securities
Total public debt and guaranteed sacurltles.
32
U_
36
251,865
fetal
oatataadt^
,.
..
.
March 1949
19
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest -Bearing Public Marketable Securities
Issued by the United States Government
^^
and Outstanding January 31, 1949
(Id mlllloDB of dollare)
Amount of maturities
Year
and
month
Description of security 2/
Fixed
maturity
Issues
Callable Issues
classified by
year of:
First
call
Final
maturity
Date
bank restricted
Issues
become
hwnV
eligible
An»unt of maturities
Year
and
month
Description of security 2/
1/
Filed
maturity
issues
Callable issues
classified by
year of:
First
call
Final
maturity
1952
Feb.
.
Bills
1-1/8^ Certificate
-
2/1A9-B
2,189
SAAg-C
5,012
3,553
June.
-
-
l»/lA9-E
3,715
1,055
Sept.
1-1/8* Certificate
1-1/^ Certificate
-
6/1A9-E
'',301
Dec.
Bills
Mar..
l-l/8)t Certificate
BlUs
Apr..
June.
Mar..
3,1.06
2*
Bond
-
6/l5/l»9-51
July.
1-1/^ Certificate
Sept.
2t
Oct..
1-lA* Certlfleat*
-
Dec.
l-lA* Certificate
-
-
l/l/kg-T
1,01't
Bond
2*
2-1/2* Bond
-
3/15/50-52.
-
3/15/52-5't.
l,02l»
Bond
6/15/52-5''.
S-l/li* Bond
6/15/52-55.
5,825
1,501
2*
2-1/2* Bond
Bond
2*
-
3-1/8* Bond
Bond
2*
-
-
-
1,963
9/15/5O-52.
9/15/50-52.
12/15/1(9-52.
12/15/52-5''.
1,186
'',939
U91
8,662
5,783
17,012
Bond
Bond
3-1/^ Bond
a-l/sit Bond
2*
-
-
-
9/I5A9-5I
10/lA9-O
6,535
12/15A9-H
12/IJA9-5I
12/15A9-52
12/15 A9-53
519
Total
8,579
1,292
1953
2,098
''91
1,786
36,068
6,682
June.
Bond
-
6/15/53-55.
Sept.
Bond
-
9/15/51-53.
2-1/2* Bond
2-1/U* Bond
-
12/l5/'i9-53
-
12/15/51-53.
Dec.
725
7,986
1,786
1,118
•
725
10,890
1950
Jan..
1-lA* Certificate
Mar..
2*
Bond
-
3/15/50-52
Apr..
1-3/8* Note
-
li/l/50-A
Sept.
2-l/2t Bond
Bond
St
-
9/15/50-52
9/15/50-52
1-1/2* Bond
-
-
l/l/50-A
5,69't
195''
Ctto.
-
12/15/50
Total
1,963
Mar..
2-1/2* Bond
June.
2-3/1'* Bond
-
1,02U
3/15/52-5''.
3,596
1,186
2*
'',939
2,635
11,926
6/15/51-5''.
6/15/52-5't.
6/l5/5''-56.
Bond
2-1/1'* Bond
a*
Bond
-
1,627
5,825
681
8,662
12/15/52-5''.
8,088
681
17,138
1951
June.
Sept.
-
6/15/U9-51
2-3/lt* Bond -
6/15/51-5''
2*
Bond
l,011t
-
9/l5/''9-51
-
3*
Bond
Bond
Bond
9/15/51-53
9/15/51-55
7,986
755
2*
Bond
-
12/15 /1»9-51
12/15/51-53
12/15/51-55
1,U8
2*
2*
-
2-l/lt* Bond -
2*
Total
Bond
-
1955
1,627
2,611
Mar..
2-7/9* Bond
-
3/15/55-60.
June
2-1/11* Bond
-
2*
Bond
-
6/15/52-55.
6/15/53-55.
1,501
725
Sept.
3*
Bond
-
9/15/51-55.
755
Dec.
2*
Bond
-
12/15/51-55.
510
1,292
2,098
510
11,996
U,l'0U
Total
{Continued on following pa«e)
,
2,611
3, ''91
Date
bank restricted
Issues
become
bank
eligible
1/
.
.
.
.
,
.
Treasury Bulletin
20
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding January 31, 1940^ - (Continued!
(Id alllioiu of dollars)
ABDAt of aaturltlee
Tmt
ad
Description of ecurltj 2/
rixad
BtUrlty
lseu0s
Sate
bank r«Callable laautfB
atrlctad
olaaalflad by
laeuae
year of:
becooB
bank
Tint rinal
a^u- •llglble
call
3/
T
ABOunt of aaturltlea
T«ar
and
J>»«crlptlan of aecurltj 2/
onth
rixsd
KtU-
rlU
laauea
Date
bank reCallable laauae
tncted
claasiried bj
leeuee
year of:
becoae
rinal bank
fipat
atu* ell«lbl«
call
a/
rlty
196k
1956
Mar...
2-1/2* Bond
3/15/56-58.
Jima.
S-lM
Bond
6/l5/5*-56.
Sapt..
2-3A^ Bond
2-lA» Bond
9/15/56-59.
9/15/56-59.
1,UU9
681
6,253
2-l/8» Bond
3/15/56-58.
2-3A> Bond
6/15/58-63.
-
6/I5/6I1-69.
3,761
'•/15/53
2-1/2* Bol^
-
I2/I5/6I1-69.
3,838
9/15/53
7,600
Total.
681
1965
1958
Jinu.
2-1/2* Bool
Dec.
982
3,823
Total.
Mar..
June.
Mar..
8-1/2* Bond
-
3/15/65-70.
Dec
2-3/k* Bond
-
12/15/60-65.
.
2/l/5k
5,197
1,1185
l,Wi9
Total.
5,197
1,''85
919
Total.
919
l,Wi9
1966
2-1/2* Bond
-
3/15/66-71.
3,k8l
2-1/2* Bond
2-1/2* Bond
-
6/15/62-67.
6/15/67-72.
7,967
Sept.
2-1/2* Bond
-
9/15/67-72.
2,716
Dec.
2-1/2* Bond
-
12/15/67-72.
11,689
Mar..
IS/l/Sk
1959
Juna.
2-l/lif Bond
6/15/59-62.
Sapt.
2-3/li» Bond
2-1/kf Bot^
9/15/56-59.
9/15/56-59.
2-lA» Bond
12/15/59-62.
Dae.
5,28k
6/15/52
June.
982
3,823
3,li70
Total.
8,754
1967
12/15/52
-
2,118
5/5/52
6/15/68
12/15/62
It.Boli
22,372
i960
2,U8
1968
Mar..
2-7/8» Bond
Dae.
2-3/'»* Bond - 12/15/60-65.
-
2,611
3/15/55-60.
1,1*85
if
Fanaoa Canal bond
-
-
Juna.
2-1/2* Bond
-
6/I5/6U-69.
3,761
k/15/53
Dec.
2-1/2* Bond
-
12/15/611-69.
3,838
9/15/53
12/15/63-68.
2,831
12/1/52
1969
2,611
1961
Juna.
2-1/2* Bond
Dec.
1,U85
6/1/6I
50
7,600
1970
1962
2-1/U* Bond
2-1/2* Bond
Juna.
6/15/59-62.
6/15/62-67.
5,281t
6/15/52
5/5/52
3,1.70
12/15/52
2,118
2-1/2* Bond
-
3/15/65-70
5,197
2/l/5k
2-1/2* Bond
-
3/l5/66-,71
S.Wl
12/l/5k
Juna.
2-1/2* Bond
-
6/15/67-72
7,967
6/15/62
Sapt
2-1/2* Bond
-
9/15/67-72
2,716
2-1/2* Bond
-
12/15/67-72
Mar...
1971
2-l/k* Bond
-
12/15/59-62.
Mar...
Total
2,118
8,75k
1972
1963
Juna.
.
Sac
.
.
.
2-3/U* Bond
6/15/58-63.
2-1/2* Bond
12/15/63-68.
Total.
Source:
1/
2/
919
2,831
2,831
12/1/52
Dec...
Total
919
Dally Treaaury Stataaant and Public Debt Sarrlce.
Excludes postal saTlngs bonds.
It should b« noted that callable Issues appear tvlco In this colum,
once In the year of flret call and again In the year of final maturity.
Callable Issuee vlth r«spect to which a definite notice of
.
i/
U,689
12/15/62
22,372
call haa l>een made, hovoTor, are Hated aa fixed naturltlee. For
date of Iseue of each eecurlt;, see chapter on "Market Quotatloaa";
for tax atatue, eee chapter on "Treaaury Surrej of Ownership".
Bank restricted Iseuee nay not be acquired hj cOB»rclal banka (vltti
minor exceptlona) prior to a epeclfled date.
March 1949
21
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
(Aaounte In alllione of dAllart)
lesua
date
22
Treasury Bulletin
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certiftcates of Indebtedness
March 1949
23'
DEBT OPERATIONS.
Table 4.- Disposition of Matured Marketable leeuee of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
Date of
refaniilng
or retirement
Jj.^isury
24
DEBT OPERATIONS.
Table 5.- Issuance and Retirement of the Public Debt
(Is mllllaos of dollar*)
Tl.c«l
or
antta
Bulletin
March 1949
25
UNITED STATES SAVINGS BONDS.
United States savings bonds were first offered for
Series A-D were sold from March
In March I935.
Series E, F, and 3 bonds have been
1935 to April 1941.
on sale slnoe May 1, 19'H. For Information on the terms
sale
and conditions of these bonds,
issues
for
see
"Treasury Bulletin"
page 31, and October 19't-5,
19'^7,
Sales and redemptions data by States
Decemb«r
pages A-4 and A-5.
In
the
following tables
at Issue price,
sales figures are quoted
and redemptions and amounts outstanding
at current redemption values.
standing are quoted at par.
been redeemed are included
Amounts of Series
outMatured bonds which have
In
the
figures
on redemp-
Matured bonds outstanding are reflected in the
Interest-bearing debt until all bonds
of the
series
tions.
are published at the end of each calendar and each fis-
have matured, when they are transferred to matured debt
Sales by denominations
after June JO, 19't7.
are also published semiannually after December 31, 19't-7.
upon whiob interest has ceased.
cal
year
Table 1.- Sumnary of Sales and Redemptions, by Series
Cumulative through January 31, 1040
Series
Beurod Sell; Trcuurr Stataaenti Offloe of th« Treuurer of th> U. 8.
rootnot«s at and of Tabla 3
•
Treasury Bulletin
26
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series B, F, and G
Period
:
,
.
March 1949
27
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series B, F, and G
Sales 1/
Accrued
discount
(Continued)
-
Fedemptlons 2/
Sales
plus
accrued
discount
Accrued
discount
Sales
price
(In mllllonfl of dollars)
Fiscal yeers:
19I<1
67
•35
758
802
679
W^jS
19lt3
Wit It
19''5
19''6
m?
19l'8
_
67
2
l<35
3
3
760
811
698
17
58
89
17
57
88
lt07
9
19
33
uto
llt9
llt7
360
301
61
to7
362
203
206
197
198
2
6511
l|
750
786
7
35
77
106
189
203
222
35
77
lOU
185
196
212 p
1>7
Calendar years:
208
652
7U5
19''1
igiia
19l»3
19l»''
208
773
13
igW
595
325
igitT
3lt2
WkS
1.98
25
to
Sk
67
-
W""?
621
365
396
566
7
Months
19U8-July
August.
September.
.
.
October.
November.
December.
.
I9U9- January.
.
SU6
18
lU
25''
22
19
22
21
19
21
20
18
lU
15
22
19
20
30
17
18
16
16
17
16
29
38
19
18'
;
:
1 P
Amount
outstanding
Interestbearing
debt)
(
Percent of
monthly
redemptions
to amount
outstanding
28
Treasury Bulletin
TREASURY SAVINGS NOTES
Treasury saving* notas (originally designated tax
saTln^ra notes
from
Au^st
August
1,
)
1,
have been issued in four series:
through June 22,
igl^l,
1941, through SepteritMC 12,
September ik,
19'>2,
through Auguet 3I,
Series A
Series B from
191*3;
pages t^ and U3.
Similar information oonoernlng Series
notes
found
Ootober
will
19'*5,
be
In
C
the "Treasury Bulletin" for
pages A-4 and A-5.
I9U2; Series C from
19'*g;
and Series D
For
In the following table* sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes redeemed (either for cash or for tax payment) are
Included In the figures on redemptions. Matured notes
details oonoernlng terms and oondltlons, Investment yields,
outstanding are reflected In the interest-bearing debt
and tax payment or redemption valuer at Serlaa A and
until all notes of the series have matured, when they are
transferred to matured debt upon which Interest has ceased.
on oontlnuous sale beginning September 1,
19'^.
Details
oonoernlng tenas and conditions for purchase and redemption,
and Investment yields of Series D notes will be found
on page A-1 of the Ootober 1948 "Treasury Bulletin'.
B,
see
"Annual Report of the Secretary of the Treasury" for 19'*2,
pages 207 and 220, and for sales amd redemptions by fiscal
In aooordanoe with the practice of the Dally Treasury
years and months, see "Treasury Bulletin" for February
Statement.
19'*6,
Table 1.- Stuimary of Sales and Redemptions by Series, Cumulative through January 31, 1040
(In allllooa of doHara)
SarlM
starch 1949
29
OWNERSHIP OF FEDERAL SECURITIES
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In mllllonfl of dollare)
End of
fiscal
year
or month
k
9
1
3
.
1
3
.
9
7
k
3
k
1
k
.
8k
k
9
2
9
k
39
Treasury Bulletin
30
0WHER3HIP OF F£D£RAL. SECURITIES.
Table 3.- Estimated Ovnerahlp of Federal Securities by Bank
and Nonbank Investors
(Par Tolues
^
-
In billions of dollars)
Held bj nnnY^nV lUTttOtOrS
Bold hj banks
Total
tnA of
onth
Other
FodoroJL
Cowrclal
Bocurltiai
outetaod-
banks 3/
fodaral
Rvserrs
Banks
Total
Mutual
aarlngB
IndlTlduals kj
corpom-
State and
local
tloQfl and
asaoclatlona 5/ 6/
2/
u. s.
GoremBBnt
lures tBflDt
aeco«its 6/
1939-DecaatMr
1.7.6
18.1.
15.9
2.5
89.3
10.1.
6.3
3.1
2.6
19M>-June
Deooaber
k8.5
50.9
18.6
19.5
16.1
17.3
2.5
2.2
89.9
31.5
ID.3
10.9
6.5
6.9
3.1
3.2
2.5
8.k
19^1-June
Deceaber
55.3
6k.3
21.8
23.7
19.7
2.2
8.3
33.5
ko.6
11.5
lU.l
7.1
8.2
3.k
2.k
.6
81.1.
3.7
k.l.
.7
77.0
112.$
28.7
26.0
18.U
9.2
.9
65.8
81..5
U.3
3.9
k.5
5.k
1.1.1
8.6
6.2
W.3
l>7.3
U.6
1.0
69.8
87.7
31.7
36.0
13.1
38.1.
15.1
k.6
5.3
5.9
6.1
12.1
15.5
80.7
80.0
1.0
1.5
2.0
2.1
15.8
16.9
1.3.6
6.8
83.k
85.9
53.5
l6.k
17.3
18.3
19.6
2.6
5.2
3.5
k.3
18.1
19.1
20.6
21.7
k.k
5.3
5.5
6.5
22.9
8k.
86.6
87.0
88.0
88.8
89.1
88.
6.7
6.7
6.5
6.k
6.3
19^-Juns
DecoHber
19^3-March
June
Sept^iber
December
1944-jterch
50.1
l.lt.8
IM.S
59.1.
i6e.3
170.1
119.9
67.2
71.5
52.2
58.3
59.9
U.5
187.0
202.6
6l).0
12.1
68.1.
111
70.5
77.7
16,7
18.8
77.7
19.7
21.8
23.3
5.9
7.2
8.9
June
Septeabor
Deceaber
SU.l
232.1
76.2
83.3
87.1
96.5
19^5-March
June
Septeaber
Decoaber
235.1
259.1
262.6
278.7
106.0
107.3
115.0
81.
.2
81.
.0
90.8
21..
19^-rebruary (Peak)
279.8
276.6
269.9
265.8
259.5
116.7
112.8
108.2
93.8
81. .1.
28.9
88.6
23.8
104.
60.2
21.
7I..5
83.3
260.0
261.6
259.3
'97.9
96.8
Harob
June
September
December
194 7- January
97.1.
97.9
90.2
81.1.
95.1
98.7
11D.8
119.3
123.9
135.6
.9
1.6.5
1.9.2
.0
23.9
162.2
21..
161. .8
6I..I
10.6
12.2
13.1
Ik.
11.1
11.2
87.9
88.0
25.3
23.6
25.
81.9
83.7
83.3
6.k
6.k
6.7
31.8
31.3
31.6
88.0
88.5
22.3
6.9
7.0
7.1
31.6
32.2
32.8
6U.6
6U.9
28.1
8.5
9.5
8k .8
85.0
85.3
25.
25.3
28.7
22.5
61. .0
2k.
7.1
7.6
26.5
30.9
29.9
20.
6I..8
7.3
7.7
8.3
.5
8.7
9.6
10.0
10.7
51..9
59.8
60.7
64.8
137.7
153.1
155.8
163.6
163.1
163.8
161.7
161.5
161.6
U.2
Ik.
6.5
.1.
8k.
U.5
11.7
11.8
65.5
66.0
66.5
85.k
85.1
11.9
12.0
12.0
66.8
67.0
67.1
85.1
85.8
85.0
12.0
12.0
12.1
30.8
30.
30.9
91..
73.9
78.7
71.5
88.6
165.2
93.5
92.8
91.9
71.6
70.7
70.0
81.9
88.1
21.9
161.. 1.
May
June
257.9
258.5
258.U
July
August
Septoaber
259.5
260.2
259.2
91.9
91.9
92.2
70.1.
21.5
88.8
88.3
167.6
168.2
167.0
67.1.
69.7
69.9
67.6
66.7
85.0
8k.
2k.
22.5
88.7
82.3
7.1
7.2
7.2
33.3
33.7
33.9
October
norember
December
259.2
258.3
257.0
92.1
91.7
91.3
70.0
69.5
68.7
88.2'
28.8
28.6
167.0
166.6
165.7
66.8
66.7
66.6
2k .9
2k .7
2k.
22.0
21.7
21.2
7.2
7.3
7.3
3k.
3k. li
l^Ud- January
rebruary
256.7
69.0
25'' .7
67.1.
81.9
81.0
20.9
165.7
166.8
167.0
66.6
66.7
66.8
8k.
83.9
65.1
12.0
12.0
12.1
21.1
21.3
81.7
7.8
66.1
65.6
20.3
20.7
165.8
166.1
23.5
81.1.
166.
83.2
12.0
12.0
12.0
80.
61. .6
66.8
66.9
67.0
166.9
166.7
166.8
67.2
67.3
67.3
23.0
22.6
28.3
12.0
11.9
11.7
20.
166.1.
67.1.
67.1.
81.9
21.7
21.5
11.6
11.5
February
March
AprU
Ifarch
253.1
90.9
88.k
86.0
April
May
June
252.3
252.3
258.
86.5
86.2
85.9
165.8
166.5
23.8
23.
7.3
7.k
33.9
3k .6
3k .9
35.0
7.8
7.7
7.8
3k .8
20.5
20.8
7.9
8.0
7.8
36.k
36.5
36.8
20.7
21.2
21.2
7.8
7.9
7.9
36.8
37.0
81 .£
20.7
3k.
35.7
I
July
86.5
65.2
86.1.
61..
21.3
21.6
Septeaber
253 .'•
253.1
252.7
85.9
68.5
83.1.
October
Hot ember
December p
252.5
252.6
252.9
86.1
85.8
86.0
63.1
62.6
68.6
23.0
83.8
83.3
Aoffost
^
8/
^
k/
^
166.8
166.9
67.6
lAilt«d Stat«B eaTli^fl bonds, Serl«a A-P, K, and T, are Included at
current redemption ralues
Includee aU aecurltlee laaued or guarantaed by the U. S. Gorement, but excludee guaranteed eecurltlea held by the Treaaury.
ConslBta of coawrcial bajika, truat covpanlea, and etock earlnga
bonki In the Ubitad States and in Territories and Inaular poeaeasicoa. Figures exclude securltiee held In trust departsenta
Includee partnerehlpe and personal truat accoxmta
Include* eaTlnge and loan associatlona, dealere and brokers, and
Inrreatesnta of foreign balances and International acoounte in this
country. Beginning vlth Deceaber 19k£, figuree include inreetaenta
b7 the International Bank for Peconatniction and DereloiMBnt and
6/
jj
37.3
International Monetary Fund in apeclal noointerest-bearing not«*
iaeued by the D. S. Gorenawnt.
Holdings by Federal land banks are included tBd«r "Other oorporatlons
and aasociationa" instead oT "U^ S. Goreraaefit InTeetaant aocounta"
beginning vlth June 30, 19k7, since the proprietary Interest of
the United States in these banks ended June 26, 19k7.
Consleta of trust, sinking, and Inreetoant funds of State and
local goTenmenta and their agencies, and Terrltorie* and insular
poaseaslonfl.
p
U.5
Frellalnary.
.
March 1949
-
31
TREASURY SURVEY OF OWNERSHIP, DECEMBER 3I,
igilg
The Treasury Survey of Ownership covers seourltles
Information on the distribution of ownership by types
Issued by the United States Government and by Federal
of banks and Insurance companies Is published each month.
The banks and Insurance companies Included
Addltlonsd Information showing the holdings of commercial
agencies.
the Survey account for approximately 95 percent of
such securities held by all banks and Insurance companies
In
In the United States.
Data were first published for
March 3I, iglf-l. In the May 19^1 "Treasury Bulletin".
Section
I
-
banks distributed according to Federal Reserve member
bank classes and nonmember banks is published for June 30
and December "}!.
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par TalueB
Claaaificatlon
-
In millions of dollars)
.
Treasury Bulletin
32
TREASURY SURVEY OF (WNER3HIP, DECEMBER 31,
Section
I
-
19M
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities, by Issues
,
March 1949
33
TREASURY SURVEY OF OWNERSHIP, DEC3EUBER 31,
Section
I
-
igU-g
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities, by Issues
(Par values
Issue
(Tax statue £/ le showi In parentheses)
-
in millions of dollars)
-
(Continued)
.
Treasury Bulletin
3"*
TREASURY SURVEY OF OWNERSHIP, DECEMBER 31, l$k&
Section
II
-
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Far T&lues
iBBua
(Tai atatua 2/ !• ahonn In parantheaea)
•
In alllloiu of dollars)
March 1949
35
.TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, DECEMBER 3I, ISki.
The tables which follow provide an analysis of the
security holdings of commercial banks reporting In the
Treasury survey of ownership of securities Issued by the
United States Government and by Federal agencies. The
figures show the total holdings distributed according to
Federal Reserve member-bank classes and nonmember banks.
Section
I
-
This analysis of commercial bank ownership was first
published In the May 1944 issue of the "Treasury Bulletin",
based on the survey data for December 3I, I943. It haa
appeared at semiannual or queo-terly intervals sinoe that
time,
and is now being published for the June 30 and
December 3I survey data.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values
Claflelflcatlon
-
In millions of dollare)
Treasuru Bulletin
36
TREASURY SURVEY
Section
I
-
COMMERCIAL BANK OWNERSHIP, DECEMBER
(Par Talnee
leaue
^
19'+«.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities, by Issues
(Tax statua
3I,
la ahenm In parentbeeea)
-
in
mlUlooa of dollar*)
March 1949
37
•TREASURY SURVEY - COMMERCIAL BANK OWNERSHIP, DECEMBER 3I, 194S.
Section
I
-
Interest -Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities, by Issues - (Continued)
Treasury Bulletin
38
•TREASURY SURVEY
Section II
-
-
COMMERCIAL BANK OWNERSHIP, DECEMBER 3I, 194«
Interest -Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par Tftlues
l0flU0
(Tax 0t«tu0
^
le ehovn In parenthae*s]
-
In mllllocui of dollaxv)
March 1949
39
,
Market quotations
closing quotations
In
shovm
MAEEET QDOTATIOHS, JAITOAKY 31,
here are over-the-counter
the New York market for the last
trading day of the month, as reported to the Treasury by
the Federal Reeerre Bank of New York.
The securities
I Include all public marketable securities issued or guaranteed by the United States Oovern-
listed In Section
ment
except
those
not
Section
issues
excluded are
postal
savings bonds and Fed-
eral Housing Administration debentures.
The latter are
public marketable interest-bearing guaranteed
securities outstanding.
Section II lists the publlo
marketable securities Issued by Federal agencies but
the
only
not guaranteed by the United States Oovernraent.
regularly quoted in the market.
I
-
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
Amount
out-
The
19'*9.
Table 2.- Certificates and Notes (Taxable)
Treasury Bulletin
ko
,
Section
I
MAFKET QUOTATIONS, JAJTOAKY 31, I9U9.
Securities Issued or Guaranteed by the United States Government
Table 4.- Tax-Exempt Bonds
(Frlca iaclaala ar* 32ada)
6/
March 1949
ki
YIELDS OF TREASURY SECURITIES JAN.
Based on Mean
2.60
2.40
2.20
2.00
1.80
1.60
1.40
1.20
1.00
.80
.60
.40
.20
2.20
2.00
1.80
1.60
1.40
1.20
1.00
.80
.60
.40
.20
of Closing Bid
31,
and Ask Quotations
1949
Treasury Bulletin
U2
YIELDS ON TREASURY AND CORPORATE BONDS,
Table 1.- Average Yields of Long-Term Bonds by Periods
(
Period
Percent per anmai)
March 1949
^3
Treasury Bulletin
U1+
INTERHAL REVENUE COLLECTIONS
Table 1.- Sunnary by Principal Sourcesj/
(In ttaousasda of dollars)
fiscal year
or aDoth
March 1949
»^5
INTERNAL REVENUE COLLECTIONS
1934
DOLLARS
-35
"
Billions
Individual
1934
36
Income Taxes
38
40
Estate and Gift Taxes
42
'36
'37
'38
'39
'40
'41
42
'43
'44
'45
46
47
48
'49
Treasury Bulletin
kG
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax
(1b thoueanlB of dollar*)
riBcal 7»ar
First 6 auBtha of f lao&l 7*ar
Type of tAX
19W
19<H
lacc— and profits taxes
i9>ia
WkS
1948
Sixth Bonth of fiscal jtur
(DKaOwr
191.9
19'>7)
:
IndlTldual:
Vlttihsld b7
Othar:
a^lOTsrs
Currant ij
Back
Total lodlTidual iQcoas taxss
9,8l«,sa8
11,533,577
5,370,035
*,932,5a7
36,128
8,950,872
550,7*3
8,8l.7,"i69
616,73'>
1,932,973
275,539
1,631,89*
297,910
351,237
56,689
19,3'>3,297
20,997,781
7,578,5*7
6,862,331
**3,99*
5,**!, 776
8,86J.,251
613,320
987,21.8
3,982,665
272,628
5,066,282
266,320
1,*15,087
*7,566
7,575
200,957
8,392
95,188
992
2*,*65
Corpo* It loo:
lnc<.3a taxes:
Current gj
Back
Kxcees profits taxes:
Declared ralue
Berenue Act of 191.0 Uf
Azvj aad laT7 contracts
^
^
Total corporation lnc<»e and profits taxes
Total IncoBS and profits taxes
&gloyeat
55,185
3,566,178
17,61.3
305,251
16
32
9,676, k59
10,1711,1.10
11,1.63,825
5,*36,211.
1,*88,U0
29,019,756
31,172,191
12,0l«,372
12,298,5**
1,932,10*
1,''58,93''
185,876
1,612,721
208,508
805,172
26,661
875,977
31,390
7,669
1,*06
1,6U,810
1,821,229
831,833
907,367
9,075
282,638
102,861
m,936
taxes:
Social securit/ taxes:
Old-a^e InsuraAcs
UnsBployaent Insurance
Total social secnrltj taxee
379,555
560,113
27l>,286
2,02lt,365
2,381,3'g
1,106,119
1,190,005
1,597
1.723
209
5,5*0
708,79't
822,380
3811,013
387,987
6*,298
70,k97
76,965
8,1.67
5,2*3
1,096
121,562
1,563,800
'•3,W5
2,906
109,965
,326,261
3'', 983
56,137
7711,578
20,61.6
9,190
135,172
3,826
511,291
58,"i29
1,577
29,299
67,19*
699,875
19,280
l,*lk
32,833
9,W.3
9
7"^
13,282
153
9,500
7
6,391
6,*53
1*7
3
2
•
281
6,967
208
6,*72
58
1,166
Railroad retlroaent.
Total eaployaent taxes
Miscellaneous Interoal rerenue:
Capital stock tax 6/
Zstate tax
Gift tax
Liquor taxes:
Distilled eplrlts ( iMported, excise)
Distilled spirits (dcoestlc, excise)
Distilled spirits, rectification tax
Wlnss, cordials, etc. (Imported, excise)
Wines, cordials, etc. (dcoestlc, excise)
Dealers Id distilled spirits; rectifiers;
anufacturere of atllls (special taxes)
Stamps for distilled spirits Intended for export.
Case etSBps for distlllsd spirits bottled In bond
Container stamps
rioor taxee
Feraented malt 1 iquors
Brevere; dealers in malt liquors (special taxes).
Total liquor taxee
Tobacco taxes:
Cigars ( large)
Cigars ( small)
Clgarettee ( large)
Cigarettes ( small)
Snuff
Tobacco (chewing and smoking)
Cigarette papers and tubee
Leaf dealer penalties, etc
Cigarette and cigar floor taxes
Total tobacco taxes
2,533
W7
12,036
182
5,336
13
1
2,7W
360,720
2,990
51,969
75
1,276,176
1,197,*5*
207,120
1.6,686
2'',358
29
2*, 328
31
3,681
66
5
2
3
7,055
1,208,199
7,372
606,139
3,535
36,51'8
37,021.
19,11110
618,500
3,613
18,361
539
926
1.87
1.11.
*52
2,370
81
300,280
653,991
665,251
93,386
'•3
661,1.18
697,097
3,662
l.,020
756
2,255,320
U8,289
66
6
1,11.5,262
2,
*2_
'•7'',
1
1
5
2
1,237,768
1,
33
377, SI*
1.
86,796
Stamp taxes:
Bonds, issues of capital stock, deeds of
coDTejance etc
Transfers of capital stock and similar Interest
salss
Placing cards
SilTer bullion salse or transfers
1.9,106
50,771
25,609
2*,*58
*,397
21,963
7,782
1,127
20,37'>
9,319
7,867
1>,2U5
9,259
3,870
1,*83
728
1.51.
325
190
I)
Total stamp taxss
79,978
79,*«
39, '•99
37,776
6,612
,
(Continued on foUovlng page]
(DsoMfcar I9U)
.
March 1949
^7
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax^
-
(Continued)
(In tboujBands of dollars)
Fleoal year
?lrst 6 Bonthfl of fiscal year
Type of tax
191*7
igW
191(8
191*9
Miscellaneous Internal roTenue (continued):
Manufacturers* excise taxes:
Lubrlcat Ing oils
Gasoline
Tires and tubes
Automob ile trucks and buses
Otber autonobiles and motorcycles
Parts and accessorise for autcaoblles
Electrical energy
Electric, gas, and oil appliances
Electric light bulbs and tubes
Radio sets , phonographs , componentB , etc
Phonograph records
Musical instruments
Mechanical refri^eratora, alr-conditiooere, etc.
Matches
Business and store machines
Photographic apparatus
Sporting goods
firearms shelle and cartridges
Pistole and rerolTers
Repealed taxes
,
,
Toted, manufacturers* exolse taxes.
Retailers* excise taxes:
furs
Jewelry
Luggage
Toilet preparations
80,887
1*78,638
159,281*
171*, 927
62,099
201*, 680
99,932
63,011*
65,608
23,180
63,856
8,1*92
10,151
37,352
8,1*13
25,183
36,163
Miscellaneous tazss:
Sugar Act of 1937
Telephone, telegraph, radio, and cable facilities.
Local telephone serrlce
Transportation of oil by pipe line
Transportation of persons, stc
Transportation of property
Leasss of safe-deposit boxes
AdaiBBlons to theaters, ooocerts, eto
Admissions to cabarets, roof gardsos, eto
Club dues and initiation fsee
Bovling alleys, pool tables, etc
Coin operated deTices
Adulterated and process or renorated butter, and
filled cheese
, .
Oleomargarine, including special taxes
Including
marihuana
and
special
taxes.
Narcotics,
Coconut and other vegetable oils processed
Rat ional F Irearms Act
All other, including repealed taxes not llstsd
above
Total BlBcellaneoue taxes
Total miscellaneous internal revenue.
Total internal revenue collections
.
.
Total receipte from internal revenue (Call/ Treasury
Statement)
38,975
251,960
355
38,682
81.,
91,963
270,958
122,951
69,701
87,858
21*, 936
67,267
7,532
10,573
129,1*88
62,770
32,037
1*2,299
11,320
34,631*
58,1*73
3,661
4,969
27,978
10,610
32,707
5,511*
15,01*1
1*3,935
20,920
8,666
181*
i8,ae8
11,277
858
92
1,1*25,395
1,61*9,326
820,073
97,1*81
95,5^
79,539
217,899
80,632
91,852
97,211*
37,11*8
1*1,921
51lt,2S7
1*69,923
210,662
17,051*
9,031
381*
236,615
81*, 588
Total retailers* exolse taxes.
AdJustBsnt to Daily Treasury Statement
82,015
1*33,676
59,152
71,21*7
252,71*6
a75,2»
l61*,9l*Jt
6,31*3
1*59
3"*,
1*1*,
380
762
135,9»
193,521
18,773
96,11*2
16,988
21*1*, 003
21*6,323
275,701
317,203
9,081
385,101
53,527
135,1*33
156,1*81
8,560
398,873
63,350
23,299
l*,l*58
25,1*99
lt,oa6
20,1*32
19,271
30
792
20
9,806
889
17,208
25,701*
720
305
1,551,11*0
1,655,620
5,871*
9,093
'*,13'>
208,771
28,367
11,813
3,379
16,095
12
i*,770
386
12,980
6
9
63_
868,670
261, 758
8,061*, 152
8,311,003
39,108,273
l*l,a61*,536
17,1*10,21*9
271,136
-11,051
+209,921
39,379,1*09
1*1,853,1*65
17,620,170
1*,
39,971
271,685
Sixth oonth of fiscal year
191*
191*9
(December 19lt7) (DecaAer 19I18)
Treasury Bulletin
kg
MONETARY STATISTICS,
Table 1.- Money In Circulation
(In illlcnfl of dollare axoept aa not«d)
fa.fr aanay
lad of fiscal
7«ar or Bonth
Total
mcaaj In
olTooIatlOD 1/
Total
paper
DU7
.
.,
March 1949
l^9
MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(In millions of dollars)
Gold
End of fiscal
year or month
($35 per
fine ounce)
Ratio of silver
to gold and
silver in
monetary stocks
Silver
($1.29+ per
fine ounce)
Wkl
82,68li.2
1>,11>8.7
igiia
22,736.7
22,387.5
21,173-1
'•,306.3
'•,298.5
3,9''7.9
20,213.0
20,269.9
21,266.5
23,532.5
3,685.8
3,508.U
3,525.7
3,571.0
15.1.
23,678.9
23,725.1
23,872.3
3,576.3
3,577.8
3,58U.U
13.1
13.1
13.1
.
2U,00lt.2
.
all,
3,588.1
3,592.6
3,596.7
3,600. It
13.0
12.9
12.9
igi-s
19'tli
w^s
19"^
Wl*?
19lt8
,
WltS-July
August .
September
,
. .
October.
November
December.
165 .6
2U,2U3.9
2U,271.2
19^*9- January p.
Source:
P
Dally Treasury Statement and Circulation Statement of U.
Preliminary.
Honey.
15.5
15-9
16.1
15.7
IU.8
IU.2
13.2
12.9
For detail of silver monetary stock, see Table
l».
Table 3.- Gold Assets and Liabilities of the Treasury
(in millions of dollars)
Uabllitiee
End of calendar
year or month
Gold assets
Gold certificates 1/
Gold reserve
against U. S.
notes, etc 2/
.
1939
17,6U3.k
15,278.6
low
21,99'».5
19l>l
I9I12
19l'3
22,736.1
22,726.3
21,937.8
19,825.11
20,56li.8
WW
20,618.8
18, I197.lt
19l>5
20,0611.9
191^6
20,529.0
22,753-9
17,9111.1
18,1130.5
19117
19I18
19U8-July
August.
September
.
October.
November
December
19119-January p
Sour*.e:
1/
20,611.9
19,821.0
21,5lil».0
Exchange
Stabilization
Fund
^
Gold in
General Fund
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,600.0
1,800.0
1,800.0
I1O8.9
156.0
156.0
156.0
156.0
156.0
1,800.0
1,800.0
1,800.0
165. U
213.2
215-3
i58.lt
160.7
I9I1-8
lU2-lt
1,053-9
1,077-9
2lt,2li3.9
23,010.0
23,678.9
23,725.1
23,872.3
22,1151.7
22,61i7.7
156.0
156.0
156.0
1,071.1
1,059-8
1,068.6
2li,00li.2
2li,2li3.9
22,770.3
22,932.8
23,010.0
156.0
156.0
156.0
1,077-9
1,076.8
1,077.9
2li,271.2
23,068.9
156.0
l,0li6.2
2li, 165.6
Dally Treasury Statement and Circulation Statement of U. S. Honey.
Comprises (1) gold certificates held by the public and in Federal
Beserve Banks; and (2) gold certificate credits In (a) the gold
certificate fund - Board of Governors, Federal Beserve System, and
22,509-3
2/
^
p
(b) the redemption fund - Federal Beserve notes.
Beserve against United States notes and Treasury notes of 1890.
Excludes gold in active portion of Exchange Stabilization Fund,
Preliminary.
7
1
7
..
.
k
Treasury Bulletin
50
_ MONETARY STATISTICS,
Table 4.- Cooiponents of Silver Monetary Stock
(la
KlUlooa of dollar*)
SllTar
outalda
Traaaur7
SllTar bald In Traaaurr
Sacurlng allTar
eartlftcatai
of calendar
year or Boath
Ibid
In Ganaral fund
y
SllTar
bolltoa 2/
1,298.2
1,398.1
1,*T6.1
1,516.2
surer
dollar*
^
Bullion for
racolnaga J*/
Bullloo
at coat 2/
19.1
616.0
657.*
662.3
628.2
551.8
*8.1
52.5
63.0
78.8
96.8
39*.
*22.*
*93.5
587.3
68*.
3,790.2
k, 060.0
k,2kk.8
*,317.6
*,207.3
I1O5.6
185.6
93.1
91.1
89.3
117.5
137.5
150.1
156.3
165.0
771.6
8*6.7
901.1
928.7
971.5
3,870.6
3,512.8
3,51*.2
3,5*7.9
3,596.7
SllTar
dollara 1/
SubaldlaJ7
coin
^
l,5M.O
k68
*00
5.3
2.3
3.5
9.2
1*.*
1,520.1
1,703.9
1,911.2
1,937.6
1,971.5
376.5
356.*
3*3.*
337.2
328.1
12.5
10.2
1*.0
13.1
5.9
Auguat,
Saptaatwr
1,956.*
1,960.0
1,962.6
333.0
331.6
330.6
9.2
11.*
9.3
92.9
91.3
91.6
160.1
161.5
162.5
9*6.7
9*9.2
95* .6
3,576.3
3,577.8
3,58*.*
October.
HoTaabar.
Dwjaabar.
1,965.7
1,968.9
1,971.5
330.0
329.*
328.1
8.3
5.0
90.*
89.7
89.3
163.1
163.7
165.0
960.2
967.8
971.5
3,588.1
3,592.6
3,596.7
1,97*.
328.2
8.*
16*.9
971.0
3,600.
1939
19W
IJkl
19*3
M3
19k''
19*5
19*6
19*7
19*8
19ka.Jia]r
.
19*9- January p
Source:
1/
*99
Sutaldlarr
coin
Total
ellTar
at H.29*
par flna
oisua
Ii9k
i>8*
1
5.9
Valued at ll.38» per fine ounce or at $1.29* per flna ounce according
to vbather the bullion le held for recolnage of eubaldlary ailTar
colna or for recolnage of etandard ellTer dollara.
Prallalnarj.
Lesa than t50,000.
D&llj Treaaurj Stateaent and Circulation Statanent of 0. S. Money.
Valuod at $1.29+ per fine ounce.
Includee sllrer leaaed to Office of Defenae Plante of the B.F.C.,
etc. (aee Dallj Treaaury Stateaont for aaount) . Doea not Include
allTer leod-leaeed to foreign goremanta (eee 19*6 Annual Paport
of the Secretary of the Treaauiy for eaotmta),
Talued at $1.38+ per fine ounce.
Table 5.- Silver Production in the United States and Acquisitions by Mints and Assay Offices 1/
(In allllGoa of ouncea or dollara)
Calendar year
or nooth
SllTor
production In
united Statea
SllTar acquired by alnta and aaaay off Icaa
Revly nlned dcoeatlc
ellTer 2/
Ouncea
1939
19*0
19*1
19*2
19*3
63.9
68.3
71.1
55.9
*0.8
19**
19*5
19*6
19*7
35.7
29.3
81.*
36.1
36.1
19*8
Ouncea
60.7
68.3
Total
foreign ellTer 2/
282.8
139.8
kO.l
*8.5
50.1
3U.0
3-9
Dollara
Ouncea
Dollara
120.5
50.9
27.1
6.0
160.6
99.*
77.2
kO.O
3.9
.6
•
•
3*3.3
208.0
1*3.1
62.1
5.5
e
.9
.6
.9
"•.9
*.*
27.*
33.3
70.5
*7.9
5.5
30.3 */
36.8
72.6
1*.3
*.9
30.3 */
36.8
'
•
*.*
27.*
33.3
19*8- July
Auguat...
Saptaaber
2.7
2.3
3.5
k.l
2.7
3.5
3.7
2.5
3.2
k.l
2.7
3.5
3.7
2.5
3.2
October.
HOTeaber.
Deceaber.
3.0
3.*
2.3
2.8
2.6
3.0
3.0
2.8
2.6
3.0
3.0
2/
3.3
3.3
Annual flgursa froa the B\ir«au of th« Mint. Manthlj figures on U. S.
Bllrer production rron releasee of tha Aaerlcan Bureau of Net&l
Statletlce; these vlU not a^pree vlth the *nniwi figures.
For Infomatlon on ellTer production In other countrlee, eee *nnvMi1
reports of the Director of the Mint. Data frosi 1933 throu^ 19*»1
are aianarlted In the "Treasury Bulletin" for August 19^3, pa«s TU.
Acquired at 6fc.6k cents per fine ounce until April 9, 1935; at 71.11
cents per fine ounce ttxn that date until April 23, 1935; at 77-57 cents
3.3
3.3
^
k/
*
per fins omice froa April 23, 1935, to Deceaber 31, 1937; at
6U.6b cents per fine ounce froa Deceaber 31, 1937, to July 1, 1939t
at 71.11 cents per fine ounce from July 1, 1939, to July 2, 19'^;
and at 90.5 cents per floe ounce since July 2, 19'>6.
Acquired at rarlous prlcee ereraglng approximately 51 cents per
fine ounce.
Includes 0.2 allllan ounces ralued at Tl-U cents per fins ounce
totalling $0.2 allllaa, aM 30.1 Mllllan otncee Talued at 90.5
cents per fins oimcs totalling $27.2 million.
Less than 50,000 otmcse or $50,000.
9
..
5
77
5
3
.
March 1949
51
MONETARY STATISTICS,
Table 6.- Seigniorage on Silver
(CumulatlTB from January 1, 1935
-
In
mUlons
of dollars)
Sources of seigniorage on silver l)ulllon revalued 1/
End of calendar
year or month
1935
1936
1937
1938
1939
Seigniorage
on coins
( silver and
minor)
Misc. silver
Cincl. silver
bullion held
June lU, 1931t)
Newly mined
silver (Proc.
Dec. 21, 1933)
Rewly mined
silver (Act
July 6, 1939,
and
July 31, 19lt6)
Silver Purchase Act
of June 19,
193''
Nationalized
silver
(Proc. of
Aug. 9, 193'')
Total
seigniorage
on silver
revalued
Potential
seigniorage on
silver hulllon
at cost In
General Fund 2/
18.5
^8.7
16.8
326.2
271.. 9
l>8.7
36.0
58.0
31*.
1*22.1
397.5
U8.7
226.2
302.7
366.7
31*.
1*6.1
63.7
69.5
91.7
31*.
1*8.7
71*.
1*57.7
31*.
U8.7
87.3
U.2
530.7
3l'.7
508.1
616.0
705.6
758.8
950.6
122.2
182.1
2U5.7
299.6
362.3
1*8.7
1*8.7
87.6
87.6
87.6
87.6
87.6
25.7
19''5
WW
1*29.5
1*91.9
1*8.7
191*7
19''8
520.5
559.2
1*8.7
1*8.7
19'«3
WW
191*?
WitS
19''l»
191*8- July
1*8.7
1*8.7
1*8.7
1*8.7
562.7
31*.
759.1*
1*8.3
580.1.
3'*.
63.6
65.3
58k.3
3'*.
58k.
3"*.
65.1*
581*.
31*
799.7
818.9
820.6
820.7
87.6
87.6
87.6
87.6
65.5
66.5
8U.6
701.6
832.1
832.1
832.2
87.6
87.6
87.6
80.1
81.2
81.9
538.6
U8.7
August.
September
51*2.9
51*6.2
''8.7
1*8.7
October.
550.1*
1*8.7
Noveihber.
55'' .0
U8.7
559.2
1»8.7
87.6
87.6
87.6
561.6
1*8.7
87.6
.
December.
191*9- January.
Source:
1/
Office of the Treasurer of the United States.
These items represent the difference between the cost value and
the monetary value of ellver bxilllon revalxied and held to secure
.7
1,055.8
1,089.0
1,01.8.2
967.3
717.3
333.2
161.2
3''.
938.1
1,069.6
1,077.6
1,087.8
832.2
832.2
832.2
3''.
1,083.3
11.2.8
3''.7
l,08l..U
137.6
3''.
1,085.1
13''.6
82.9
83.8
8U.6
832.2
832.2
832.2
3l'.7
31*.
1,086.1
1,087.0
1,087.8
131.7
129.9
85.6
832.2
3l'.7
1,088.8
127.8
71*.
2/
31*.
31*.
31*.
11.6.8
129.9
13lt.2
sliver certificates.
The figures In this column are not cumulative; as the amount of
bullion held changes , the potential seigniorage thereon changes
Table 7.- Net Treasury Gold Receipts, by Source
(In millions of dollars at $35 per fine ounce; negative figures indicate net sales)
Period
51.1.6
Treasury Bulletin
52
CAPITAL MOVEMENTS.
Information rslatlng to capital moveniente between
the United States and foreign oountrlee la preaented In
Section
four eectlone.
I
oontalne the principal types
of data on capital noTemente by years beginning with
1935, when the Information was first compiled, and cur-
rently by months.
available and the latest month for which preliminary data
are available.
Each type of data Is then broken down
Into Its chief components In the same ohronologloal detail.
Section II supplies a geographic breakdown by principal countries for recent months. The total net capital
movement Is given first and then the principal oategorles
In addition, at this point, the
are shown separately.
total outstanding claims on and liabilities to foreign
countries are aaoh presented.
Section III presents details with respect to capital
movements and short-term claims and liabilities. These
are shown for the latest month for which final data are
Section
I
Section IV contains data for recent months on outstanding contracts of banks for forward purchases and
sales of foreign exchange.
The data lii these four sections are based on reports
filed eaoh month by banks, bankers, and brokers throughout the United States. The reports are oolleotod, checked,
and tabulated by the twelve Federal Reserve Banks.
The
totals are then forwarded to the Treasury Department for
consolidation and publication.
Publication of detailed figures on capital movements
was discontinued between the March 19U2 and the November
19''-5 Issues of the 'Treasury Bulletin", but data omitted
during that period were supplied in the November
Issue and supplement.
- Historical Sunmary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In tkouunls of dollar*; nsgatlr* flgsrM Indloat* a oat oatflov of Oi^ltal tram tka IbLltad Btataa)
AnalTSla of sat oavltal
Calaodar /aar
or afloth
Short- taia
hanVlna fnnda
Brokara^a
balaacaa
:
T^waaaotlana
19l;5
r
.
March 1949
53
CAPITAL MOVEMENTS
Section
I
-
Historical Summary
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Poeltlon at end of period In thouaaade of doUare)
Short-tsra liabilltlee
Short- teis clalaa
Payable
Ind of calendar
jear or Bonth
(Dec.
(Dec.
(Dec.
(Dec.
(Jan.
(Bee.
1935
1936
1937
1938
1939
19^0
Total
31, 1935)
30, 1936)
29, 1937)
in
foreign
currenclee
'188,365
1,301,11*2
1,156,1*96
l>7,li77
U3U,977
385,636
310, k77
268,719
221,383
1,623,317
1,893,087
2,203,185
3,221,328
3,938,232
1,U56,885
1,600,507
1,985,025
3,025,189
3,786,182
367,786
li7,068
118,633
202,085
2li6,673
30,916
3U,387
72,01(8
l'>3,709
137,l61i
3,678,518
U,205,389
3,352,223
3,523,328
5,37l*,903
li,13l*,M2
1*,
356, 501
It,
91*6, 621*
128,951
lliO,9U
65*, 990
626, 0U2
152,lt37
508,702
383,978
66,71.5
igkl
Wte
Wis
3, 191'Oi
31, 19110),
257,929
19Wt
-
Depoalte
of
foreigners
Loana to
foreign
banks
161,263
96,726
116,917
165,521
173,238
115,118
778,579
672,611*
28, 1938)
Payable in dollara
Payable In dollare
150,0ltli
86,378
16,795
Ret
Parable
in
foreign
currenclee
135,3U
97,851
99,95k
82,983
103,369
60,828
2,712,626
121,001
31,01*9
3,55l*,25li
306,618
668,168
1,222,580
1,218,633
1,910,898
19,677
13,893
17,911
3,310,732
3,958,716
66,1*78
209,597
111*, 791
5,116,971*
511,603
105,ll21
169,670
k7,k89
98,119
2lt5,O10
5,596,775
6,883,068
290,1*95
1*90,631
6,1*80,262
7,116,1*19
I*,
693, 911
l», 809, 21*5
2,257,510
21,61*1
25,5''6
1*0,629
U9,661*
560,695
7,695,259
5,197,255
2,1*27,615
70,389
6,672,996
700, 775
2,280,867
2,205,873
2,135,967
52,351*
6,0l6,97l*r
52,915
55,793
6,078,871r
6,038,272r
2,168,31*3
65,206
69,383
75,935
5,857,873r
6,029,172r
6,239,1*55
6, 382, 659
1,022,263
100,371
19U8-January
February
March
l,017,022r
1,0311, 8o6r
l,071,8l5r
153,61t8
37'<,136r
1*89,238
7,033,996
1*,
1U9,869
163,938
393,803r
396,003r
1*91,131*
7,U3,677
'*,85l*,889
511,871*
7,110,087
11,918,327
April
May
June
l,101,li9ltr
169,805
lil5,67l»r
l,150,796r
1,099, 770r
175,9''7
90,1'31
1*23, 831r
516,015
551,018
612,539
6,959.367
6,975.0S7
7,013,727
U,
July
AuguBt
September
l,066,888r
l,08l,526r
l,066,808r
87,100
89,517
83,281
388,656r
U20,313r
7,096,060
7,175,075
7,219,510r
li,
810, 281
1*,
81*8, 1*58
lil2,552r
591,132
571,696
570,975r
l*,881*,883r
2,260,908r
81,587
80,556
73,719
October
NoTember p
December p
1,065,896
l,021,lUUr
1,022,263
87,069
95,980
100,371
390,1*82
588,3U5
7,305,351
l*,87l*,758
350,823r
361,197
57'',3''1
7,1*03,803
1*,
560,695
7,695,259
2,358,091*
2, 1*11*, 395
2,1*27,615
72,U99
75,555
70,389
9li8,936r
P
r
1,577,11*3
392,766
708,253
ijitSp!!!!!!!!."!.'!!!!!
igW
522,563
950,703
1,238,097
329,6911
100,267
319,639
292,866r
361,197
19'>5
abort- tera
liabilities
165,1»39
396,800r
1*,
725,818
730,003
U 71*5,236
913, 853
5,197,255
1,7115,722
2,175,701
2,192,556
2, 201*, 192
2,21*6,061
5,267,081
6,1*90,302
5,772,009
6,l67,l>83r
5,821*, 29 Ir
5,913,957r
6,093,5l*9r
6,152,702r
6,672,996
Prellj&iBary
PeTlBod,
Table 3.- Net Movement of Siort-Term Banking Funds
(In thousands of dollars; negatlTe flgiires indicate a net outflov of capital frcn the United States)
Short-tern liabilities
Short-term clalas
Calender year
or Donth
Total
Payable
in
foreign
oiirrezloiee
(Jan.
2, 1935-Jan.
1,
(Jan. 2, 1936-Dec. 30,
(Deo. 31, 1936-Dec. 29,
(Dec. 30, 1937-Deo. 28,
(Dec. 29, 1938-Jan.
3,
It, 19liO-Seo. 31,
19ltO (Jan.
1935
1936
1937
1938
1939
Wkl
19lt2
191*3.....
I9U
W^S
1936)
1936)
1937)
1938)
361,360
70,119
17,62li
I9I1O)
28,9118
117,31tO
I9I1O)
12lt,72lt
16,192
97,503
-11,256
-71,765
-63,072
I9I16
-315,1187
Wk?
-2110, 683 r
igitSp
-76,016
19lt6-January
-68,086
228,132
-11*, 788
-11,526
2,393
83,299
19,268
1*09
U,791
February
March
-17,7811
3,779
-37,009
-ll»,069
April
May
June
-29,679
-5,867
-119,302
-6,11*2
51,026
85,516
July
August
Septeaher
32,882
3,331
-11*, 638
-2,1*17
October
November p
Deoember p
1>2,063
lli,7l8ir
912
-1,119
6,236
-3,788
-8,911
-It, 391
Payable In dollars
Payable in dollars
Loans to
foreign
banks
-3,552
31,868
-20,191
-1*8,601.
-7,717
58,120
Total
Depoalte
of
foreigners
Payable
m
tOTViffi
ourrenoies
Net movement of
short-term
banking
funds
Treasury Bulletin
s"*
CAPITAL 1I0VEUEKT3
Section
I
-
Historical Summary
Table 4.- Purchases and Sales of Lons-Term Domestic Securities by Foreigners
(In thousand* of
Calandar year
or aooth
Salss
1935
1936
1937
1938
1939
19k0
(J«n?, 1935-Jan.
1,
(Jsn. 2, 1936-Dec. 30,
(Dec. 31, 1936-Dec. S9,
(Doc. 30, 1937-Dec. 28,
(Doc. 29, 1938-Jaii.
3,
W, I9I1O-IS0C. 3I,
(Jan.
1936)
1936)
1937)
1938)
19liO)
19kO)
I9VI
19*2
19*3
I9W...S
19k5
I9W
19*7
19''8
p
19J>8-Januai7
February
March
Dcasstlc bonds
n.a.
n.a.
n.a.
n.a.
n.a.
Ret
n..a.
n.a.
n.a.
o.a.
281i,206
"•73,052
n.a.
n.a.
n.a.
n.a.
-188, 8h6
6l>,66l>
-27,236
8"t,797
-1J»,25"»
39,7k8
59,602
-19, 85"^
29,997
26,830
26,276
"^1,770
-l'^,773
30,8ao
-".,51.1.
October
29,381
38,U79
25,388
27,17">
3,993
11,305
29,769
3,97l>
December p
33,7"»3
-8,570
n.a.
n.a.
n.a.
n.a.
n.a.
-56,216
1,302,68k
986,021.
2, 68k, 391
2,083,698
2,028,755
l,lk2,923
1,119,905
2,273,381
1,200,U9
l,03k,k78
506,022
751,081.
582, 9k6
316,660
600,693
2l.k,626
57,196
-85,k27
-2k5,062
61.8,382
26,912
21,131
26,60k
78
-8,925
-l,k92
3k, 177
53,
kk,987
72,936
-7,369
-19,33k
-27,9k9
19,059
17,6kO
35,867
31,758
32,208
25,6k7
-12,699
-Ik, 568
10,220
56,k87
58,183
75,615
96,k82
117,005
85,2k9
-39,935
-58,822
-9,63k
80,889
11,035
31,996
19,685
25,982
5kk
-lk,9k7
35,7".1»
-3,7l»8
50,226
37,865
58,272
Ul,k23
17,859
19,780
k0,723
13,906
19,280
700
3,953
500
70,80k
56,338
53,523
26,990
12,206
25,112
-26,1.57
let
-".0,38k
336,305
279,196
-1"^">,272
Ret dcasstlc
stocks and
bonds
Total
sales
320,991
260,601
392,938
650, kll
637,9kO
-150,585
-7,Ui7
-10,k09
"132,109
376,67"i
513,"t58
Total
purchases
-39,k36
25,70k
70,7kk
2k5,31k
-15,673
-269, 7k3
53,030
21k, 388
138,51k
170,555
268, 2kk
393,390
68k,213
283,275
319,580
32,362
32,380
"^,332
357,655
221,816
21.1,299
2'>,915
171, '•32
n.a.
n.a.
n.a.
17'^,952
75,
1911,616
W8
n.a.
n.a.
n.a.
n.a.
n.a.
278,032
-"•2,977
-3k, 579
-97,'i32
-6k, "•60
368,558
July
August
Septsaber
ITorenber p
Salss
-228,519
20,895
11.6,039
96,383
151,639
136,853
260,223
367,6*9
226,089
369,186
21,971
19,875
Pnrchasvs
o.a.
April
Maj
June
n.a.
P
doUan)
Doaoatlc stocks
I6k,2l8
513,558
377,717
l>lk,k70
".39,676
-261,955
k6,599
27,767
210,735
751,Ok5
-U3,105
1,U5,322
-33k,203
-97,555
-18k, 656
2U,002
365,171
782, U9
562,39k
659,9k9
833,038
59,27k
51,905
5U
kw
-Ik, 229
61,382
66,56k
-23.517
-3,292
66,111
k,693
15,258
k,k7k
61.,
1.1,080
1.9,01.9
Rot arallabls.
PrellAlnary.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In thousands of dollars)
Foreign stocks
Calendar year
or Bonth
1935
1936
1937
1938
1939
19kO
(Jan.
1,
2, 1935-Jan.
(Jan. 2, 1936 -Doc. 30,
(Doc. 31, 1936-Doc. 29,
(Doc. 30, 1937-Dec. 28,
(Dec. 29, 1938-Jan.
3,
k, 19l«.Sec. 31,
(Jan.
19kl
19k2
19k3
I9W.
19k5
19k6
19k7
19k8p
19kd- January
February
ttarch
Purchaaes
Sales
n.a.
1936)
1936)
1937)
1938)
19io)
19k0)
23,278
26,601
37,328
65,2k7
57,118
81,597
6,126
5,089
7,kk9
April
•*V
Jane
7,kl.6
July
August
Septesber
5,257
5,312
7,835
October
Rorember p
Decenber p
6,093
7,327
8,20k
7,381
8,078
Foreign bonds
Rst
Purohasee
Sales
Ret
Total
purchases
Total
sals*
Ret foreign
stocks and
bcods
..
.
.
March 1949
55
CAPITAL MOVEMENTS.
Section II
-
Summary by Countries
Table 1.- Net Movement of Capital and of aiort-Term Banking Fimds
(In thonsaada of dollars; nogatlTe figures Indicate a net outflow of capital from the Dnlted Statea)
Net capital moveoHnt
Short-term hanking funds
igW
Wkfl
Count Z7
August
Sept«ml>er
KoTonber p
Deceober p
Anguat
September
HoTeaber p
Decewber p
lurope:
United EingdoB
Trance
Be Islam
-2,603
-2U,268
-U,702 r
-8,079
5,838
Cenaarlc
-68lt
-1,085
rinland
Oermany 1/
-593
-2,1.73
Oreeoe
Italy
Lozembonrg.
. .
Netherlands.
Norva7
Portugal
.
fiujnanla
Spain
Sweden
Total loropa.
Canada
Latin America:
Argentina.
BollTla
Brazil
.
Chile
Colombia
Costa Blca.
.
Netherlands Vest Indies and
Surl nan
6,730
-9,099
16,1.95
-.,11.0
-308
3,968
13,602
-1,392
16,834
10,412
-7,596
285
-369
280
1,207
-2,01.6
-1,898
-277
-6,21.0
-1.,182
-10,621.
13,861.
ll.,1.25
'.5
13,607
-1,396
10,231.
-1,156
2,625
2,197
2,lW
-7,681
3,965
-6511
225
-2,526
-31.2
803
-6to
171.
5,01.7
-li,921
-l.,l.ll
1,317
-6,168
6,037
-23,207
-3,307 r
-6,176
-8,709
-9,618
U,76l
-l.,30l.
-llt,159
1,71.8
IU.987
9,031.
-^.0i?7
8,987
6.758
2.^22 r
-7,1.63
-2,109
37,073
-6UU
31,601.
-15.05U
1,504
431
40
-6,71.8
692
131
-fill.
-655
-2,059
-500
-2,1.71.
-676
-2,950
19,717
9,189
6
-2,U1.8
6,102
l,7l.l.
9,01.0
-3,032
8,987
5,512
108,708
242,953
55,191
5,121
-17,391
2,220
4,080
-274
654
6,853
-3,191
9,201
562
6,363
5,806
651
-10,542
398
2,386
-9,026
-18
-1,732
-832
-979
-1,506
1,441
6,983
1,767
6,709
-8,325
-16,837
-3,686
35,892
18,876
-36,
U7
59,553
51,909
-890
5,096
22,697
2,216
2,446
3,821
6,655
3,561
-7,923
U2,317
21.3,286
1.677
ll,006r
36.669
-lgl,9l»9
33.016
18.636
61., 903
12,717
38,91^0
28,724
12,122
895
18,939
-25
11., 881.
-17,636
2,257
156
706
8,359
9U
17,621
111,861
1,529
3,979
3,881. r
5,1.1.2
-5,501 r
-5,317 r
-1,302
'.,988
7,823
-21.
1,528
3,717p
l.,873
-850
6,608
-2,952
-6,093r
l.,877
9,2Ul
6,1.32
981
-5,35'.r
52I.
712
-77
-1,307
7,770
-59
-9,1.79
-7,232
20,321
U1.2
-1.
-11.3
2,611
-2,633
13,5l>3
2,583
-213
1,995
-13,900
36
-6,152
-U19
-1,830
2,630
3,911.
-3,551.
1,823
598
-3,331
111,026
21,230
-lk8
16,753
2,808
-216
319
-13,825
-396
922
2,667
3,933
-3,055
1,877
629
1,513
-700
U8
-1,180
1,1.78
8,91.2
1*21
7,088
-7,116
-1,122
28,198
23.212
-18,1.15
60,293
35,773
l6,502r
-1,056
1,162
.7,550
16,572
16,021.
-881.
2,211.
31.
-2,291
2,31.2
Venezuela
Other Latin Aserloa.
-6,576
13,891.
-10,21.9
Total Latin America
39,1^5
20,1.51.
-6.1.1.6
r
1,867
6,701.
-4,879
6,087
1U,91.1
29,253
3,9W
-640'
4,951.
-6,221
13,508
-7,159
-3,407
767
5,U1.6
-2,728
-'.,535
803
-l'>,351
-4,301.
-20,961
-3y3XOr
l.,5Ui
3,1.71.
-2,801
-8,709
-7,159
-3,U07
851
508
-10,979
-11., 171
6,6U0
1,520
153,243
16,453
15,663
1,613
18,877
1,202
25,'.15
1,1.97
1,111.
8,781
-1,728
1,082
1,949
25,600
25,613
9,31.9
25,81.2
-1,560
31,122
l.,108
37,008
-276
6,11.8
U,97l.
16,535
8,260
-3,159
1,91.9
-1,559
31,111
1,608
18,852
-10,213
-10,985
-9,580r
-1,091.
1,051.
-2,058
-9,851
-23,271.
-729
-592
3,1.28
-2,123
-106
Mexl CO
17,091.
-2,1.33
25,1.38
1,01.9
Cuba
French Vest Indies and Oulana.
152,171
20,315
ll,110
l,53l»
.
8,727
-U,17U
-6,768
31,367
-611
-57l>
.
26^91.2
-652
-2,953
19,685
-2,023
Switzerland.
0. S. S. B...
TugoalaTla.
Other Surope.
16,982
6,395
-2,895-
3,1.27
1,1.08
2,269
-13,062
l.,193
Asia;
China and Manchuria
Trench Indo-China
Hong Eong
India
British Malaya
Japan
Netherlauds Zaet Indies.
Philippine Islands
Turkey
Other Asla^.
Total Asia.
.
.
Other countries:
Australia
New Zealand
Z^pt and Anglo-Zarptlan Sudan.
-2,761»
9,709
-5W.
2,2U8
-5,881.
5,113
2,597
-1,270
808
-2,910
2,113
-655
l,l6l
-5,223
-10,980
-695
-2,951
-5,136
819
-8,175
-'.,775
3,753
-l.,U35
-'•,511
2,730
823
-8,173
-1,308
l.,l87
-10,985
-693
-2,961
-5,015
-1,316
6,703
3,561
-7,937
l',306
15,01.6
-l.,267
.,295
15,01.2
2,378
3,U99
-22,719
-10,183
-13,626
3,1.91.
7,^8
-3U
10,282
1,828
1,206
-21,887
2,152
7,726
-6,179
6.525
10,11.9
-7,188
8,262
3,9'.7
-3,232
-3,1.71.
1,76'.
7,607
92<
-1,210
-71
-3,617
7I.9
-6,103
809
1,831.
2,11.3
1,191
7,680
2,365
7,737
-6,165
6,510
-ll,85it
1,071
2,765
1.3,006
-3,156
1,763
-3,037
926
-U,l88
676
-1,163
1,536
1.02
-5,970
781
7,7U
1,531.
93
-5,928
644
20
-3,286
319
1,362
-7,107
-672
8,838
-1,879
.
-1,652
9,319
U,61.3
'.,319
-1.127
8.956
-^717 r
6.1.18
-15,966
'36,189
-10,195
-i.-mr
I*.
-1.38
1,760
-1,981
?2.0''7
91.636
171., 21.1.
-661
-113,778
331.
-1,163
Ul8
-9,6i9
9.950
'',723
Orand total.
16,245
9,592
9,1.52
Total other countries.
1,037
47,154
-5
-1,051.
-567
1,051
2911,010
6'.,377
-1.39
59,153r
2,728
-9,991
-13,627
-2,039
-150
-3,66U
-lO.lW
19
-2,902
-4 , 492
-4,221
-9,452
-215
2,870
8,81.6
263
-1,965
107
International i/
93
't,l85
369
1,202
-6,8U9
Trench Morocco
Union of South Africa
All other
Unidentified
-9,137
-196
2.855
-51.3
-1,157
9,775
1102
-43
10,254
-9,727
3,665
-15,966
-36,313
1,761
-1,931
86,753
147,312
.
.
..
,
Treasury Bulletin
56
CAPIT/U. MOVEMEIITS
Section II
Table 2.- Net Mov(
-
Sumary by Countries
nt In Brokerage Balances and Long-Term Security Transactions by Foreigners
(la tboaftaada of dolL.art; asc^tlT* fifora* Indloat* a oat outflow of oapltal t-nm tha Uliltad 9tataa or not aalaa
Dt la brokar^a balaaoaa
C^utry
lareja!
Daltt
tad
Iraaoa
n^doa.
I9U
i9*e
Ai«iat
3*pt«ateT
OotobM-
Manmbn
-150
-388
-809
68
ise
-206
161
-363
-80
3
21
-29
Qraaoa
Italy
lAxaaboarc--
-5
-k
3
-30
-1
UO
369
-22
-296
52
38
latbarlaada.
•61
-5
-1,299
61
k28
17
3
1
-7
-65
3
-3
67
87
52
-82
-2,022
-6,615
orw^
.
U
.
Spata
Saadaa
-31
Svltiarlaad..
U. 9. S. I...
ftcoalcTla.
Othar kirop*.
U
fotal kiropa.
-?.^T1
.
-2,390
-11
-3,608
•3 5^''
-6.503
-967
353
-1,192
190
-1,000
-1
-120
25k
-1
38
-516
-15
36
-165
8
126
-30
-31
225
37
1
-12k
Ik
30
93
122
-52
858
-16
-1
-1,953
lk7
-8
3,503
-931
8,858
latharlanda Vaat Indlaa aad
SurlsjB
Paaaaa
Para
-30
6
-35
-385
-8
7
-76
-17
20
160
Tanaiuala
Other Latin Aaarlea.
99
157
-199
276
60
1,701
9,553
-600
2,256
-1,72'»
k,7k6
7,890
Kid Maneburla
rranch Xndo-CMna
Bone Xonc
"•95
-60
99
-1
131
103
1
-131
7
-1
-k
ladla
-U
81
-13
-1
l£
-k
Latin i»arloa
irfantlaa.
BollTla
i
•
%atll
Chlla
Coloabla.
Coita Ilea.
.
Cuba
Tt9a6h Vaat ladlaa and Oulana.
Maxlco
Total Latin iaarlea
iala
-1
123
1
-k89
-7
!
6Mna
Irltlaii Malara
Japas
1
-67
-2
latharlanda laat Indlea.
Rilllpplna Xalanda
Torkay
Othar lala^.
-17
1
18
-563
-8
-36
-8
-38
-3
Total Iala
U2
-286
Other conntrlaa:
Inatralla.
lav Zealand
Vxpt and An«lo-lerptlan Sudan.
3
-12
-1
-1
-8l_
-3
898
-9
-78
135
30
2
-27
-k
69
-10
2
Dnlon of South Africa
All othar
15
9
1
23
110
-11
-Ikk
12
Total other conntrlaa.
11
67
92
-132
n^neh Morocco
Intamatloaal
^
Onldantlflad
-Ik
Grand total.
-3.9»3
p
DMsaaDar
813
17
20k
-8
-13
-3
nnlaad
Oaima^
Porta^al.
-TTO
-?8l
8
>al(lw
-50
-5,133
-2,9k3
k,k25
bjr
feralcnara)
Tranaactloaa la loac-tara taourltlaa, doaaatlo and forali
i
Angvat
StftmitmT
.
..
.
.
.
March 1949
57
CAPITAL MOVEMENTS
Section II
-
Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month in thousands of dollars)
Liabilities
Country
19I18
AugUBt
191»«
Horember p December p
Septemher
Jnrope:
United Ilngdom.
franoe
Belgium
Denmark
Finland
Oeniany !/
Oreece
Italy
Luxembourg
23,57't
20,876
123,122
20,021
12lt,3lil
626
I., 590
30,368
11,052
19,125
310
Netherlands.
Borway
Portugal
.
75,265
17,210
821
.
17,698
20,896
122,965
21,002
18,155
117,105
21,155
1,025
3,779
1,11.5
3,1*38
3,130
3,337
29,1176
33,61*1*
r
3,278
16,253
16,955
32
11*7
69,511"
725
69,775
27,268
715
2l>,2ltl
3,61*3
20 r
3,320
5,213
19
16
5,1*10
2,271*
5,1*85
7,1466
7,596
3
9
Tugoalavia.
Other Surope
17,002
51,229
11,301
7,351
Ul
11,060
39,099
Total Surope
''03,337r
Bnmanla
Spain
Sweden
Swltserland.
n.
S.
S.
8.
..
.
211,699
Canada.
Latin America:
Argentina.
BollTla
Brajll
6l,2H
Chile
ColombiaCosta Eioa.
.
Cuba
French West Indies and Oulana.
Mexico
Netherlands West Indies and
Surinam
Panama
Peru
1*8,073
385,920 r
25,588
1,575
386,220
29,267
30,U1.8
2l»,527
120,780
August
September
371,927
168,008
1111,190
21,1.01*
609
1.1,953
3,363
30,525
25,369
76,8Ul
16,500
1,223
15,778
10
23
271,291
15,710
57,215
51,370
8,365
657
122,682
66,008
3,1.99
ll.,970
509
2l*,965
1.7,1.19
iSr
2,728
981
23
6,961*
2,912
16,100
1,1*01.
1*5,658
'.,179
6,882
51*9,513
3
2
7,500
39,031
6,009
29,71.1.
W*,735
II*, 559
106,656
325,600
2,130,51.8
39,81.8
656,361
72,1.31
3''0,1.73r
38,807
2,51*8
63,760
2,922
66,81.8
3,0Uli
2,1.27
2,736
189,759
13,007
178,723
173,278
171., 951.
180,023
165,1*29
117,1*29
17,li71
19,127
18,66U
k2,li6o
1*0,203
1,31*8
15,215
32,569
1.6,1.98
1,''89
21,007
39,755
1,083
67,625
61,390
65,1*98
13
76,llt5
72,251
35
76,619
U
l,li2li
61,981*
1,239
1,252
002
U,232
33,71.2
1,1*83
55,933
1,911.
8,636
72,350
31
83,107
23l*,850
30
976
72,71*3
73,71.1
152,620
1,025
1,639
.,586
70,711*
11,1.38
1.8,1*18
17,775
3,579
U,U1
1«,183
3,91*1*
Venezuela
Other Latin America.
20,765
18,778
33,225
20,611.
18,071
25,980
76,679
33,781.
35,538
36,1*36
32,71*8
192,91*9
Total Latin America.
511,917
1*93, 1*39
511,1.71
511,862
516,563
1,226,21*3
Shlna and Manchuria.
French Indo-Chlna.
Hong Zong
k6,157
161
3,863
65,521
120
39,000
81
3,121
25,866
290
3,512
25,991*
11.6,361
111*
3,51*0
3,353
5,861.
1*7,176
India
Brltlah Malaya
Japan
20,223
787
20,167
525
7,359
20,1*01
50,568
397
15,853
11., 71*7
1,91*8
I.,
3,81.9
1*,170
Asia:
.
Netherlands last Indies.
Philippine Islands
Turkey
Other Asia 2/
Total Asia.
Other countries:
Australia
New Zealand
Egypt and Anglo-Sgyptian Sudan.
Arench Morocco
Union of South Africa
All other
Total other countries.
19,1*55
20,038
2,03lt
988
7,630
6,051*
373
51*1
291.
33,212
1,989
29,1)68
3l*,2l.l
382
36,202
1,81.7
1,581.
1,71*7
10,30ll
11,936
12,U81.
11,118
13,755
36,672
521,722
22,388
152,501
119,103
11.1,01*6
117,326
107,168
120,531*
l,07l*,785
3,603
683
2,233
3,821
1,087
186
3,857
3,1*76
1*,653
21,978
61.6
590
220
503
5,51*7
1.2,601
173
133
9,686
5,097
11,107
11,069
5,150
301
11,629
6,172
18I.
9,870
5,355
7,871
5,693
12,1.20
21,917
20,010
21,229
22,388
19,272
151,268
553
S05
383
1.1.6
UI.6
1.29
261
21*6
37,311*
1,1.05
368
International 3/
Unidentified
Orond total.
1,081, 526 r
1,066,808 r 1,065,896
1,021, lUUr 1,022,263
76,786
57,615
October
Hovember p
December p
Treasury Bulletin
58
CAPITAL yOVEMENTS
Section
II
-
Summary by Countries
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
(Potltloa at and of aoDth la thousandt of dollu'i)
Oltit balaaeaa (du« froa for«lsQ«rt)
Countr7
I9W
Angnat
Cr«dlt balances (duo to forelcnoro)
I9W
March 1949
59
CAPITAL MOVEMENTS.
Section III
-
Details for Month of October 1948
Table 1.- atort-Tera Clalns on Foreigners
60
Treasury Bulletin
CAPITAL MOVEMENTS
Section III
-
Details for Month of October 1948
Table 2.- Short-Terai Liabilities to Forelgnera
1
..
.
/
. ...
.
.
March 1949
61
_ CAPITAL
Section III
-
MOVEMENTS
Details for Month of October 1948
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thouBande of dollars)
Total
purchases
Country
luropa:
United Kingdom.
France
I*,
795
2,095
1,921
Belgluin
Oennarlc.
92
Finland.
0«rmany
1
li
Greece
Italy
Luxembourg.
726
119
Netherlands.
Horway
Portugal.
807
622
91
.
5
.
fiumaal a.
69
262
Spain...
Sweden.
23,079
Switzerland.
S. B...
YugoslaTla.
Other Surope.
U. S.
.
1.9
Total Europe
3't,737
Canada.
'*'',587
Latin America:
Argentina.
BollTla...
Brazi
1,10U
11
692
"•31
Chile
Colombia.
Costa Hlca.
US
.
5
1,205
Onba
French West Indies and
Oulana
Mexico
1,066
Hetherlanda West Indies
and Surinam
Panama
Peru
60
1,185
166
Veneruela
Other Latin America.
l.ltOl
Total Latin America.
7,810
U36
Asia:
China and Manchuria.
French Inao-China.
Hong Kong
311
.
India
British Malaya...
Japan
Hetherlands last Indies.
Philippine Islands
Turkey
Other Aalal/.
65
11
20
21*
370
16
57
Total Asia
Other ccuntrlee:
l<6o
Australia
New Zealand
Egypt and An^lo-Egyptlan
Sudan
French Morocco
Union of South Africa...
All other
75
216
Total other countries.
860
International £
Unidentified.
Grand total
Treasury Bulletin
62
CAPITAL, MOVEMENTS.
Section III A
-
Preliminary Details for Month of December 1948
Table 1.- Short-Tera Claims on Foreigners
.
.. . .. ..
.
March 1949
63
CAPITAL MOVEMENTS
Section III A
-
Preliminary Details for Month of December 1948
Table 2.- Short-Term Liabilities to Foreigners
Total
Bhortteim
liabilities
Coimtry
Europe
United EingdoD.
IVance
Belgium
(Position at end of month in thousands of dollars)
Short-term liabilities payable in dollars
Total
:
5to,172
1.82,873
19't,a62
128,679
191., 067
128,281
Denmark
Plnlend...
Germany-^
'>it,72a
1.11,636
19,107
178,852
19,107
178,838
Greece
Italy
21,098
21,071
333,511'
333,1.10
16,027
16,027
122,755
76,729
37,700
122,660
Busanla
7,01.6
Spain..
Sweden
13,599
7,01.6
13,511.
1*9,036
1.8,301.
52l.,81i2
523,183
21,252
.
.
.
Luxemburg
Netherlands.
Norvay
Portugal.
.
.
Switzerland.
76,61.8
37,1.58
YugOBlaTla. .
Other lorope.
21,252
19,930
103,359
103,337
Total lurope.
2,l»52,68l
2,391,631.
772,168
769,269
215,793
17,061
123,658
17,061
123,626
S. S. H.
U.
..
Canada-
1<),922
l,atln America:
Arge Dt 1 na
BollTia
Brasll
.
.
55,633
Chile
Colombia.
Costa Elca.
511,030
.
215,61.6
55,632
51., 030
8,908
219,ltli7
Cuba
French Weet Indies and
219,1.39
1,198
1,198
11*6,713
lli6,ol.6
2l.,336
21., 336
71,81.8
52,
6U
52,608
Venezuela
Other Latin America.
121,681.
171., 030
121,558
173,673
Total Latin America.
1,286,950
1,285,611
216,173
7,761
51,098
216,173
7,761
Oul ana
Mexico
Netherlands West Indies
and Surl nan
Panama
Peru
,
71,81.8
Asia:
China and Manchuria.
Prench Indo-China.
Hong Kong
.
India
British Malaya.
Japan
Netherlands last Indies.
Philippine Islands
Turkey
Other Aslai/.
Total Asia
1.8,807
51,77s
50,155
12,9111
81,1.22
81,375
12,81.3
1.1,1.55
1.1,1.51.
1.88,31.2
17,519
183,327
U88,291
17,519
183,125
1,151,810
1,11.7,503
Other countriee:
Australia
New Zealand
Egypt and Anglo-Igyptlan
Sudan
22,208
5,283
21,829
5,272
27,730
27,1.1»0
ft"eDCh Morocco
Union of South Africa..
All other
15,81.7
15,738
69,1.51.
69,1.1.6
151,965
151,168
Total other countries.
International
Unidentified
Grand total
3/,
ll,lil.3
1,86U,256
15,1.29
7,695,259
11,1.1.3
Treasury Bulletin
6U
CAPITAL MOVEMENTS.
Section III A - Preliminary Details for Nksnth of December 1948
Table 3.- Purchases and Sales of Lons-Term Securities by Foreigners
(In tbmtABdi of dollari)
Conntrr
March 1949
65
CAPITAL MOVEMENTS.
Section IV
-
Outstanding Contracts for Forward Purchases and Sales of Foreign Exchange
.
66
Treasury Bulletin
CUMULATIVE TABLE OF CONTENTS.
April 1048 through March
IMO
Zsaue and page lUiiAar
19W
Apr.
Maj
Juoa
Juljr
Aug.
19U9
Sept.
Oct.
Hot
Dae.
Jan.
Feb.
Artloles:
Treaaurjr financing operations
Announceaent of change In reporting procedure on refunds
and capl tal trana fere
A-1
Summary of rederal fiscal operations.
Budget receipts and expenditures:
Sunary bj aajor claealflcatlona
Pecelpte bjr principal aourcea
Expenllturee bj aajor claaslf Icatlona
ExpeolltureB for national defense anl related activities
Xxpendltures for international finance and aid
"Other" expenditures
Simary by nonthe and calendar yeare
Social Security Act
Pallroad Petlre&ent Act
Ballroad UtaeEQ^loyaent Insurance Act
Trust ttceounta,
etc.:
Becelpts and expenditures by najor classifications.
Sumary of recelpte and expendlturea of all trust
accounts , etc
Pecelpts, by principal accounts
Inresteents , by principal accounts
Expenditures other than Inrestasnts, by principal
accounts
Fsdsral Old-Age and SurrlTors Insurance Truet ?und.
Railroad Petlrement Account
Uneaployasnt Truat Fund
Treasury cash Inoome and outgo:
St^nary of
DerlTatlon
Derivation
DsrlTstlon
Derivation
SmmhTj of
cash transactions
of cash budget receipts
of cash budget expenditures
of cash trust account transactions
of cash borrowing or repayment of borrowing.
caeh operating Incoos and outgo by months .
.
Oeneral Fund of the Treasury:
Statue of the General Fund
Analyele of change In balance In the General Fund.
Debt outstanding:
Stanary of Federal securltlee outstanding
Interest- bearing public debt
Interest-bearing guaranteed securities
Special leeuee to U. S. Government Investment accounts..
Cooputed Interest charge and computed Interest rate on
Federal securities
Treasury holdings of securities Issued by corporations
snd certain other business-type activities of the U. S.
Government
15
15
16
16
17
16
16
16
18-19
18-19
20
ao
18-19
20
17
17
19-20
21
19-20
21
17
17
19-20
21
19-20
21
Statutory debt limitation:
Status under limitation
Application of limitation to public debt and guaranteed
securltlee outstanding
Debt operations:
Maturity schedule of Intereet-bearlng public marketable
securltlee leaued by the TJ. s. Government
Of ferlnge of Treasury bills
Offerings of marketable lesuee of Treasury bonds, notee,
and certl f Icatee of Indebtedness
Disposition of mstured marketable Issues of Tressury
bonds, notee, and certificates of Indebtedneee and
guaranteed eecuritles
Issuance and retirement of the public debt
19-20
21
19-20
21
22
23
(Continued on following page)
19-20
21
19-20
21
Mar
..
March 1949
67
CUMULATIVE TABLE OF CONTENTS.
April 1948 through March 1949
-
(Continued)
leBw and page number
igltS
Apr.
Hb7
June
19't9
July
Aug.
Sept
25
25
26-27
25
25
26-27
25
25
26-27
Mar.
United 3tatea savlngB bonds:
Sunanary of cumulative sales and redearptione ty aeries .
.
Salea and redemptions all series combined
Sales and redemptions of Series E, F, and G
Sales of Series E, F and G;
By denominations
By States
Eedemptlone of Series A-E by States
2lt
2k
25-26
,
2k
2k
25-26
2l>
21*
25-26
25
25
26-27
25
25
26-27
25
25
26-27
25
25
26-27
28
29-30
31
25
25
26-27
25
25
26-27
28
29-30
31
Treasury aavings notes:
Summary of cumulatlre sales and redes^tlons by series
Sales and redemptlonfl of Series C and D
.
.
27
27
28
28
28
28
28
28
28
28
28
28
Ownership of Federal seourltles:
Distribution by classes of investors and types of issues
Net market purchaees or sales for Investment accounts
bandied by the Treaaury
Estljnated ownership by bank and nonbank Investors
28
28
28
29
28
29
29
29
29
29
29
30
29
30
29
30
29
30
31-31*
31-31*
31-31*
31-31*
29
29
29
30
Treasury survey of ownership:
Ownership by banks ^ insurance companies, and others
Ownership by commercial banks classified by membership
In Federal Boserve System (latest date Dec. 31, 191^8)..
30-33
30-33
30-33
31-31*
35-38
31-31.
35-38
35-38
3'*-37
31-31.
35-38
Market quotations:
Over-the-counter closing quotations on Federal securities by issues
Chart showing yields of Treasury eecurltles
38-39
ItO
ik-3^
36
3't-35
3«
35-36
37
39-l>0
39-1IO
1*1
1*1
35-36
37
39-to
39-to
111
111
35-36
37
35-36
37
35-36
37
k2
k3
38
38
39
38
li2
39
39
1»3
Yields of Treasury and corporate bonds:
Average yields of long-term bonds by periods
Chart showing average yields of long-term bonds
111
37
US
37
Internal revenue collections!
Summary by principal sources
Chart shoving Internal revenue collections
Detail of collections by type of tax
39
39
1*0
kk
kk
1*0
ito
1.1.
ItO
1*0
111
1*5
1*5
1*1
1.1
to
Ul
to
kk
1.1
I15
1>5
U5-lt6
U1-U2
1*1-1*2
1*2-1*3
I.6-I17
1)6-1*7
1*2-1*3
1*2-1*3
1.2-1.3
1*2-1.3
I16-I17
I16-I17
••7
1*8
kk
1.1.
1.8
1*9
1*5
1.5
1*5
1.9
U8
1.9
1*5
1.5
1.5
1*9
U9
50
1.6
1.6
1.6
50
U9
50
50
51
1*6
1*6
1.6
1*7
1*7
1.7
50
51
liU
Monetary statistics:
Money In circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treaaury
Components of silver monetary stock
Silver production in the United States and acquisitions
by mints and aseay offices
Seigniorage on silver
Increment from reduction in weight of gold dollar
19U3)
( latest date December 31,
Treasury gold receipts (latest quarter ending
December 31, 191*8)
Exchange Stabilization
I18
1»7
51
1.6
51
1.7
F^ind:
Balance Sheet (latest date September 30, 191*8)
Income :ind expense (latest date September 30, 19l*8)....
1.8
1.9
Capital movementg between the United States and
foreign countries:
Bletorlcal suaaoary of capital movements since 1935
Summary by countrlee o"*^ months
Details for latest months by countries
Outstanding contracts for forward purchases and sales
of foreign exchange
51-53
5U-57
58-60
61
1*9-51
1*7-1*9
1*8-50
50-53
51-51*
5l*-56
55-57
5U-56
57-60
61-63
52-51*
52-55
56-58
57
58
61*
62
59
55-58
59-61
50-52
53-56
57-59
U8-50
U8-50
5I1-56
51-51.
51-51.
55-57
55-63
55-60
57-60
61-66
58
60
61.
61
67
1*8-50
51-51*
Corporations and certain other business-type
activities (latest date June 30, 194a):
Loans outstanding
Balance sheets
Income end expense
Source and application of funds
61
62-65
62
63-66
58-60
61-6I.
65-67
68-71
52-5*
55-58
59-61.
65
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
Treas.
HJ
10
.A2
1949
C.2
U.S. Treasury Dept.
Treasury Bulletin
@FedFRASER