Full text of Treasury Bulletin : March 1951
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
LiBRARYi
^rtu.
(f
LIBRARY
LIBRARY
ROOM
APP 8
^ncfo
1993
TREASURY DEPARTMENT
I
WEASURY..
EUILILIETm
MflRCH-IB5l
UNITED STRTES TRERSURV DEPRRTMENT
OFFICE OF THE SECRETBRV
March 1951
Table of Contents
Page
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
g
Treasury cash income and outgo
12
General Fund of the Treasury
I5
Debt outstanding
16
Statutory debt limitation
21
Debt operations
22
United States savings bonds-
27
Treasury savings notes
3I
Ownership of Federal securities
32
Treasury survey of ownership of Federal securities
3^
Treasury survey - commercial bank ownership of Federal
securities
33
Market quotations
I4.2
Yields of Treasury and corporate bonds
I15
Internal revenue collections
11.7
Monetary statistics
5I
Capital movements
55
Cumulative table of contents
S&
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percent-
ages) have been made from unrounded figures.
Consequently the details may not add to the totals shown.
March 1951
A-l
Treasury Financing Operations
Percent Treasury Sonde, Investment Series
Z-'i/k
On March
4,
1951
>
the Secretary of the Treasury
taxes.
They will not be acceptable In payment of
Federal Income taxes.
announced that In exchange for outstanding 2-1/2 per-
1967-72,
cent Treasury bonds of June 15 and December 15,
there will be offered a new 2-3/4 percent
of Series F and G bonds,
Investment series of long-term, nonmarketable
the
Treasury bonds.
The new bonds will not be trans-
ferable or redeemable before maturity. Their
owners, however, will be given an option of ex-
The Secretary Indicated that a special offering
2-1/2
or an offering similar to
percent Treasury bonds. Investment
Series A-I965, will probably be made available
for
cash subscription at a later date when It appears
that a need therefor may exist.
changing them before maturity for marketable Treasury
There are $19,656 million of Treasury bonds
notes.
of June 15 and December I5,
1967-72 outstanding.
k supplemental announcement, issued March 8,
stated that the new bonds will be dated
1951,
April
1,
1951,
will mature on April
be callable on April
1,
1,
19SO,
and will'
1975- The marketable Treasury
notes for which the bonds will be exchangeable will
have a five-year maturity and will bear Interest at
They will be dated April 1
1-1/2 percent per annum.
and October 1 of each year with appropriate Interest
Interest on the
adjustments to dates of exchange.
bonds and on the notes will be payable semiannually
on April
1
and October
1
In each year.
Call of Treasury Bonds
On February l4, 195I, the Secretary of the
Treasury announced that the 2-3/4 percent Treasury
bonds of 1951-54, dated June I5, I936, due June 15,1954,
are called for redemption on June I5, I95I. There are
$1,627 million of these bonds outstanding.
The announcement stated that In advance of the redemption
date holders of these bonds may be offered the
privilege of exchanging all or any part of their
called bonds for other Interest-bearing
of the United States,
obligations
in which event public notice
will hereafter be given.
Treasury Bills Refunded
Treasury bills matured In February in the
Each weekly offering of
$1.1 billion equaled the amount maturing.
The
amount of $4.4 billion.
The new bonds will be Issued In registered form
only and will bear interest at the rate of 2-3/4 percent per annum.
The bonds will be acceptable
at
par
and accrued Interest in payment of Federal estate
Note:
Details of Treasury market financing operations arBhovm elsewhere in this issue of
the "Treaaia
Bulletin", In the tables on "Offerings" and "Dis-
average rates of discount on the four new offerings
were 1.391 percent for February
1.390 percent for February 23.
1,
g,
and 15, and
position", respectively, of marketable issues of bonds,
notes, and oertlfloatee of Indebtedness, and In the table
"Offerings of Treasury Bills"
:
. .
,,
.
.
,
Slanh I'H/
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollaro)
Net
increase
Budget receipts and exx>andltiu^e
Net
receipts
1/
Expenditures
2/
Svirplua,
or
deficit
(-) 2/
Trust
account
and other
transactions
2/i/
Clearing
account
y
in
Not
Increase
In General
public
debt, or
decrease
Fund balance, or
decrease
(-)
(-)
Levels
,
end of period
Debt outstanding
General
Fund
balance
Public
debt
Guaranteed
aecurltles
72,1.22
"..sea
l.,100
Total
Federal
securltiea
Flacal years:
I9hi
12,696
22,202
igw
113,892
19l»5
UU,762
ig't'i
It0,027
igi'T
l>o,olt3
igiiS
19't9
ll2,211
38,2li6
1950
37,OU5
Uo,l67
1951 (Est.:
1952 (Est.:
Uli,512
1.7,210
55,138
71,591.
19'»2
137
79,622
95,315
93,703
60,703
3!.,
-21,1.90
-57,1.20
-51,1*23
-53,91*1
-1,613
-338
-2,222
791
23,1.61
6U,27l.
358
6,515
307
57,679
10,662
-20,676
-521.
10,71*0
-10,1.60
-11,136
l*,932
U78
-10,930
1,62U
-1,U62
61.,
l.,529
2,991
9,507
20,169
21., 698
II., 238
136,696
201,003
258,682
1,623
1.33
76,991
11*0,796
202,626
259,115
269,898
269,1.22
1.76
27
20
258,376
252,366
252,798
257,377
260,338
276,331
39,289
33,791
751.
-1,103
8,1.19
-29I1
1.0,057
-l,8u
-3,122
-U95
99
l.,587
2,01.7
5,517
258,286
252,292
252,770
257,357
-2,699
-283
2,91.3
-17
-16,1.56
1.6U
16,000
5,500
5,500
260,300
276,300
38
31
-Ul,U6l
-55,691
-53,650
-1,788
-266
-1,161
-123
-1,386
50,232
57,707
6,983
1,751
10,51*3
12,291*
i.,301
112,1.71
U,230
753
9,91*2
1.7,1.81.
3,767
-22,502
22,236
26,003
3,502
108,170
165,877
230,630
278,115
170,108
232, lUU
278,632
555
-507
366
1.83
-5,991.
3,308
3,1*70
90
73
Calendar years:
WltS
16,290
57,751
19''3
3l.,U83
90,171.
19lt''
1*3,531
Ii3,q28
97,181
87,522
38,810
1.1,322
-2,512
W"*?
ltl,010
2,1.311
igltS
igitg
111, 1*50
38,576
36,209
38,122
1.1,711.
-3,592
1950
37,831.
38,255
-1.22
3,579
3,381
3,205
2,972
3,651
1,783
19'<5
Wltfi
-1.3,591.
5,21.1
61.,
362
-18,966
-350
-229
-502
311
-21.0
-1*05
3,097
199
-2,21.9
-li,100
1,111
231.
'.,331
1.71
l.,208
l.,679
87
-1.23
-I.U7
-8U
172
-315
31.0
-179
101
-1,080
1*51
l*,659
631
5,291
5,767
-111
359
881
-1,771
-833
308
3,995
3,163
1,107
1,975
828
-133
3,337
l,OSl
1,281
li,l.l8
-962
-315
257
l*,737
-6U5
370
137
935
-6
I.,
232
259,11*9
1,511.
567
339
81
55
30
259,1*87
256,900
252,800
257,130
256,708
21.
252,620
252,721
36
26
252,656
251,61.2
21.
251,666
251,530
251,889
252,770
23
23
251,553
251,912
252,798
256,981
252,851*
257,160
256,731
Months
19U9-January
February.
March . . .
.
April...
May
June
.
.
.
July
Augm3 1
September
.
.
.
October,
November.
December,
1950- January
February.
March , , ,
.
5,1*35
3,151
1,31*0
1,91*5
3,101.
.,767
U,656
1,91.6
2,1.79
3,1*3U
U,832
1,381
3,585
3,995
371.
1«39
-51
87
-1,311
-1,159
111
-62
213
291
-511
-321.
-1,U88
-1,106
837
30
218
31*5
-Uou
-133
20
10
299
-272
160
-36
-88
201.
-1.97
-1,230
-733
-173
l.,191
3,111
3,157
3,722
3,366
2,972
2,1.96
1.76
11,320
3,269
1,551
2
170
-93
589
-11
122
1,1.88
-1,358
-79
25
-376
2,31*1*
3,323
1.69
Ul.
April.
May,.,
June
2,320
2,8U7
2,962
-61.2
11*7
U,1.0l.
l.,296
108
-53
July
August. .
September
1,881
-1,132
3U.
31
11.7
-11.0
l.,605
3,013
2,515
3,520
-99
2, 860
1,081.
-27
October,
November
December.
2,056
2,851
3,170
3,102 5/
-1,111.
'.,211
3,71*2
1951- January.,
u, 1.1.0
.
-252 5/
-17
169 1/
1.9
1.70
1*5
61.0
-83
21.7
Source: Actual figures from Dally Treasury Statement; estimates based on
1952 Budget document, lncludli.g effect of proposed legislation. More
detailed Information with respec*-. to these figures is given elsewhere
in the "Treasury Bulletin".
1/ Gross receipts leas appropriations to the Federal Old-Age and Survivors
Insurance Trust Fund and refunds of receipts,
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established
under Section llU (f) of the Economic Cooperation Act of 191.8
3,1*70
5,699
253^877
255,852
256,680
27
26
27
29
252,71*7
253,902
255,879
256,709
25^,778
256,982
257,130
28
29
30
256,805
257,011
257,160
5,OU9
5,186
6,121
256,865
256,368
27
27
256,892
256,395
255,721*
21.
255,71*7
-1,1*19
l.,T02
22
255,71*0
632
1,007
-238
1,053
l.,lt6U
255,713
256,350
257,357
20
20
256,370
257,377
183
333
-1,017
685
319
l*,500
16
18
20
257,557
257,391
257,236
-1, 359
-6
.,11*5
l.,139
l.,232
256,937
257,077
256,703
22
2U
256,959
257,100
256,731
l.,lt5l.
256,125
IS
256,11*3
98
II.8
-255
-658
-63
-52
1.76
-279
lUo
-369
-583
93
U,U22
U,679
5,517
5,185
5,505
257,51*1
257,871*
257,216
21.
(62 Stat, 150), are consolidatod with budget expenditures.
Excess of receiptf., or expenditures (-),
For outstanding checks and interest coupons, arid telegraphic reports
from Federal Reserve Banks; excess of receipts, or expenditures {-),
Beginning November 1950, Investjnents of wholly owned Govemmont
corporations in public debt securities are excluded from budget
expenditures and included with cthei- such investments under "Trust
account and other transactions"
Treasury Bulletin
BUDOET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sourcee
starch I'^51
BUDGET RECEIPTS AND EXPENDITURES
Table 3.- Eniwndl tures for National Defense and Related Activities
(In mlLLlone of dollATfi]
Fiscal year
or month
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5.- "Other" Bzpendl tores
In millions of dcllars
(
DepGXtaaent
of
F local year
or month
Dtipfirtjaent
Boufilng
hooe
flnarxe
aiid
Agrlcnituro
foetal
deficiency
£2/
I9^i
1,91'*
19't'i
2,256
2,525
2,133
5,332
WUJ
19h6
19l>7
6,U67
9,666
10,865
igiiS
19''9
1950
1951 (Estlnated).
1952 (Estimated].
October
November .
Dscember .
732
-21i7
1
313
-288
798
807
98
168
-21*6
161
2te
359
690
-23
8I.5
129
215
1,066
159
782
172
239
385
310
52U
593
1,126
1,520
1,577
i38
2,656
-68
-56
-270
61t7
589
1,619
1,696
1,967
1*85
305
6U3
-W8
632
160
1,702
1,625
-79
23
2,090
2,16U
ei8
1,277
32
19
36
-17
11.3
2U
56
3
52
53
2U
150
159
155
157
129
U09
I.?
-2
26
33
38
65
157
151
129
-7
<-23
W:,
3't
80
30
-Ul
Ul
-9
7".
66
59
62
286 r
212 11/ r
185 r
1.1
62 13/
109
-18
251
86
191
l.OOU
-62
1,388
U27
1,793
. .
72't
. .
569
5,555
1,068 r
901 r
937 r
l,llt2 r
l,l»38 r
-727
.
Flacal year 1951
to date
neoufi
2V
535
U2li
-1.5
836 li/
Mlecella-
1(25
-113
-220
1951- January
Atomic
Energy
Comal eel or.
15
996
512
1,136
ja/
prof^ram
-29
12,312
783
Jocial
security
-351.
1,168
1,612
1950-July
Au^ua t
Septaaber.
20/^
B0 c on/} true 1 1 on
Finance
Corporation ^2/
-360
-307
505
696
969
-203
1,226
2,981t
10, ''33
61
71
92
Public
works
96 11/
23
115
2U5
52
Ja/
220
Source : ( Same ae Table 2 )
Footnotes 1 through 6 on page 2 ioyi 7 through 12 on page 3
13/ Budget expenditures for November have been reduced ty $9,713,750 and
thooe for January by $8,969,250 representing net Investanente of wholly
owned Government corporations and agencies in public debt securities
which were claaaified during the period July through October 1950 ae
budget expenditures (see "Trust Account and Other Transactions",
Tables 3 and k). The reductions are distributed ae follows, all in
Table 5:
for November, $396,100 under "DepartaMnt of Agriculture",
$9,367,650 under "Housing aai home finance", and a credit of $50,000
under "Miscellaneous"; for January, $8,969,250 under "Housing aoi heme
finance"
IhJ See footnote 15.
Includes
15/
those expenditures on behalf of the Department of the Air
Force which are made out of appropriations to the Department of the
Amy, but excludes expenditures as follows; those sho'rfn separately
In Table 3; international finance and aid, shown In Table k; river
and harbor work and flood control. Included in Table 5 under "Public
works"; and Panama Canul. Defense expenditures of the Panama Canal prior
to 191*7 are included in Table 3 under "Other"; other expenditures are
Included in Table 5 under "Miocellaneous"
16/ ilxcludeo expendlturos shown sepai-ately In Table 3, and those for international finance and aid shown in Table k.
Ill After 19U7, expenditures for national defense and related activities
were not segregated from other expenditures of the Corporation and its
affiliates, which ore included In Table 5.
18/ Excludes expenditures shovn separately in Table 3. Beginning 1950,
expenditures of the Commission until it was abolished are Included In
Tf.ble 5 under "Department of Conanerco"
19/ Beginning M/irch I9U8, Includes reimbursement to the Departments of the
Army (uid Ntivy for cfire and handling of surplus property overseas.
20 / Beginning 1950, General Services Administration expenditures for surplus property disposal and for public buildings other than construction
are not included in expenditures for these purposes in Tables 3 and 5
because tjiey fire not shown .loparataly frooi other expenditures of the
Administration
21/ Prior to 191*7, these expenditures were included in "Other" Treasury
Department (;xpendlt\ires. In Table 5 under "Miscellaneous".
22/ For content befcre July 19l*B see "Treasury Bulletin" issues for
September I9I1O, page U, and February 191*8, page 7, except that beginning with 191*7, flg'*ree have been revised to include expenditures of
the National Advisory Conmltl.ee for Aeronautics.
Beginning 19l*9,
consists of expenditures of that Cormltteo, the Selective Service
System, and the Office of the Secretary of Defense except in the 1951
and 1952 estimates. The Office of the Secretary includes retired pay
for the military services beginning September 19l*9.
2^/ Total for Air Force, /vmy. Navy, and Office of the Secretary of Defense;
separate estimates net available.
260
21*/
25/
26/
27/
26/
22/
30/
31/
32/
33/
31*/
35/
•
p
r
31".
U56
52 1»
1,633 r
2,12U r
2,515 r
^
T
3,312
5,276 22/ r
r
r
52U r
181.
Excludes Bank expenditures under Economic Cooperation Act of I9U8.
Beginning June 1?1*9, includes the revolving fund for agricultural
coamnodlties ajid raw materials for occupied areas.
Includes principally relief in countries devastated by war, expenditures under the Foreign Aid Aot of 19I17 (61 Stat. 931*) azA the China
Aid Act of 191*8 (62 Stat. 158), International Children's Ensrgency
Fund, loan for construction and furnishing of United Nations Headluarters, and Korean Aid. Beginning 1950, Includes Department of
Agriculture expenditures not previously classified in the Daily
Treasury Statement ae foreign aid and relief.
Includes $3,000 million for mutual assistance, military and econcxilc,
under proposed legislation.
Excludes expenditures Included in Tables 3 and U and those for forest
roads and trails, included In Table 5 under "Public works".
Excludes expenditures Included in Tables 3 and 1* and those for public
roads Included In Table 5 under "Public works"; includes U. S. Maritime Commission for eleven months of 1950, until it was abolished and
its functions were transferred into the Department of Commerce by
Reorganization Plan No. 21 of 1950.
Excludes expenditures Included in Table 3; beginning September 1950,
Includes Federal National Mortgage Association and Prsfabrlcated
Housing Loans Program, which were transferred from the Bacons true t ion
Finance Corporation by Heorganlcatlon Plans Nos. 22 and 23 of I95O.
Consists of expenditures for the following: public roaxis, except
aaalstance to Greece and Turkey; public buildings, consisting of construction only, beginning 1950 (see footnote 20); and Bureau of Community Facilities through 1950, these three categories of expenditures
having been under the Federal Works Agency until it was abolished by
the act of June 30, 191*9 (63 Stat. 38O); Bureau of Beclamation;
Tennesaee Valley Authority; river and harbor work and flood control
under the Department of the Army; and forest roads and trails under the
Department of Agriculture. Prior to 1950, Includes all other Federal
World Agency expenditures except those included in Table 3.
Excludes expenditures included in Table 3.
For more detail of these expenditures, see Tables 7, 8, and 9Includes expenditures for executive departments and other agencies not
Included elsewhere and for legislative and Judicial functions.
Major items included which are not represented In 1950 expenditures are:
for defense production, $296 million in I951 and $1,103 million In 1952;
for oconciBlc stabilization and allocations, $300 million In 1952; for
civil defense, $15 million in 1951 and $330 million in 1952; for dispersal of Government facilities, $6 million in 1951 and $161* million In
1952; for aid to elementary and secondary schools, $290 million In 1952;
and for reserves for coatiogencies, $1*5 million in 1951 and $175 ffliUlon
in 1952.
Less than $500,000.
Preliminary.
Bevised.
Mutch W51
BUDGET RECEIPTS AND EXPENDITURES
Table 6.- Summary by Months and Years
(In millions of dollars)
Year
Treasury Bulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act
-
Budget Receipts and Expenditures
(In Ellliona of dollars)
Flac&l year
or aonth
...
8
a
.
8
5
March 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 8,- Railroad Retirement Act
-
Budget Receipts and Expenditures
(In nllllonB of dollara)
Expenditures
Recolpto
Fiscal year
or nonth
Exceee of net
receipts, or
expenditures (-)
Deduction:
Befitnd.8 of taxee
on carriers and.
their employee
2/
Tajcee on
carriers
and their
employees
Tranafera to
Railroad Retirament Account
( truet account)
AdmlnletratlTe
eipenaes
Net
receipte
220.2
265.2
311.1
21U.8
262.7
308.8
291.9
298.5
19''3
-11.1.
19lt'»
i.n
-26.3
-12.8
77-3
208.8
267.1
285.0
282.6
380.1
208.6
267.0
281.7
380.0
291..
2.5
2.3
2.6
302.8
1..3
-206.5
-15.5
-3U.1
557.1
563.8
550.2
557.0
763.5
578.9
583.7
5.0
k.k
758.5
.9
582.8
19'»5
iglifi
l.9'*l
igitS
igiig
1950
1950-July
August.
September.
.
October.
November
December
.
.
.
1951- January..
563.1.
5l»9.6
-2lt.9
.9
.9
-15.5
10.5
126.0
10.5
126.0
2.8
9.8
-205.lt
,
281..
-77.7
9.8
133.0
133.0
2.8
9.8
133.0
-60.8
1.6
1.6
5.1.
571.. 5
25.8
26.0
25.8
26.0
331.1'
331.1.
80.5
80.5
62.3
62.3
admlnlBtratlve expenses relating to the Railroad Retirement Act, and
Interest on refunds of taxes (see footnote 2).
Less than $50,000.
Source: Dally Treasury Statement.
1/ Excess of expenditures Is covered by appropriations by Congreas.
2/ Interest on refunds Is Included under "Administrative expenses"
2/ Consists of expenditures from appropriations made specifically for
Table 9.- Railroad Unemployment Insurance
Act^- Budget Receipts and Expenditures
(In millions of dollara)
Expenditures
Receipts
Fiscal year
or month
Exceas of
receipts, or
expenditures (-)
2/
19I'''
2.1
-2.7
1?''5
191.6
-.2
IJltS
.6
lit
.2
.5
191.8
-.6
II..5
I9I.9
-5.1
-3.2
9.7
9.1
1950-July
August. . .
September.
October...
November.
December.
1951-January.
-.8
1.9
-.5
2.0
8.9
9.6
9.2
9.7
9.0
15.1
12.3
6.9
.1
.5
.8
.5
.8
2.3
A
.1.
.k
.1.
.1
.5
.5
2.1.
.u
-.1.
^
U.7
lit.
-.5
Transfers to Railroad
Uoemploynent Insurance
Account, Unemploymsnt
Trust Fund
6.0
8.2
lU.9
12.6
13.1
13.7
10.3
12.1
13.2
12.9
19'.7
1950
Administrative expenses (Railroad
Unemployment
Insurance Administration Fund) k/
Railroad
unemploymsnt
Insurance
contributions 3/
5.1*
,
Source: Dally Treasury Statjoont.
1/ Operated as Railroad Unemployment Insurance Adminiatration Fund.
2/ Excess of dxperailtureB is covered by appropriations by Congress.
i/ Through I9I.8 represented 10^ of contributions under the Railroad
Unemployment Insurance Act of 1938; the remaining 90^ was deposited
in the Railroad Unemployii»nt Insurance Account In the Unemployment
Trust Fund. Beginning 19l»9, represents contributions equal to 0.2^
of the taxable pay roll; the remaining contributions are depoalted
1^
^
«
in the Railroad Unemployment Insurance Account (I.5 U.S.C. 358(f)). (See
"Truet Account and Other Transactions", Table 7.)
Consists of expenditures from appropriations made specifically for
administrative expenses relating to the Railroad Unemployment Insurance
Act.
Represents excess funds of the Railroad Unemployment Insurance Administration Fund, under act of Oct. 10, I9I.0 (5I1 Stat. IO99).
Lass than $50,000.
Treasurv Bulletin
.
TEUST ACCOUNT AMD OTHER TEAHSACTIONS
.
Table 1«- Sunraary of Trust Account and Other Transactions
(In KlUioaa of doLLAre)
Fiscal /ear
07 nonlji
Nat of
truat account
and other
tranaactlooe 1/
Truet accounts, otc.
Not receipts, or
expenditures (-)
-338
-2,222
791
-52U
-1,103
3,361
u,7ao
7,5Wt
3,238
2,619
191*8
191*9
-29U
1950
99
2,658
1,890
-281
19U3
19**^
19»*5
191*6
191*7
-1.95
1951 (Estimated).
1952 (Estimated).
1950-Julor
August
September.
.
October
November . . .
December....
inve 8 talents}
599
2,683
1,276
160
387
95
190
277
16
-123
1.6
28
3,160
3, n't
-18
7
-3W.
-170
3
3,95''
593
3,001.
5,085
7,086
7,712
6,2Ut
305
-It 58
"•,129
5,200
3,668
3,362
lt,U7U
3,625
6,515 i/
3,857
3,a2u
6,950
5,71''
6,669
3,060
2,311
i
-U02
-66
-28
II.
-283
h6k
2,51'»
3, '•75
7,311
8,620
l»,797
-99
1U7
-27
-8
277
606
327
726
957
335
W»9
351
157
217
-1
-70
-85
780
-2
-11.5
-17
169
131
359
-U
U92
681
379
361
322 r
383
1U8
192 r
-2
-2
350
572
-83
igSl-January
Expenditures
(other than
Receipts
Net redemptions, or sales (-),
of securities of Goreminont
Net InrestBientB of
agencies In the market 2/
GcremBient ageoclee in
ptihllc debt securities 2/
Guaranteed
Not guarentoed
5,1''5
y
-89
liO
U27
^
Source: Actual fi^urse TTcm Dally Treaaury Statanant; eetljnatae baaad on
1952 Budget document, Including affect of propoeed laglelatlon.
1/ Excess of recelpta, or expenditures (-).
2/ Conaleta of traneactlona which clear through accounts of the Treasurer
of the United States.
Excludes Foreign Economic Cooperation Trust Fund (see "Budget Recelpta
and Expenditures", Tahle 2).
See Tahles 3 and k^
Less than $500,000.
Revised.
ii/
•
r
Table 2.- Trust Account Receipts
(In millions of dollars)
Federal Old-Age
and Survivors
Insurance Trust
Fund
Fiscal year
or month
WliS
19W.
3,95".
Railroad
Retirement
Account
1,218
1,395
221
273
1,'.3'.
321.
191.6
5,085
7,086
7,712
191.7
6,21.1.
1,386
1,623
312
323
191.8
6,515 1/
1,807
I9I.5
Unemployment
Trust Fund
National Service
Life Inaijrance
Fund
Government
Life
Insurance
Fund
1,399
1,567
1,508
1,280
1,289
316
905
2,127
2,351
90
9U
97
103
1,501.
13'.
7'.0
690
1,076
90
92
Government
employees
retirement
funds 1/
37'.
501
557
61U
578
Other tmst
funds and
accounts
2/
337
351
1,038
1,666
792
59U
1,17'.
87
680
809
1«)3
793
1.07
8u
1.07
191.9
5,71'.
1,921.
797
625
1950
6,669
2,367
6I.5
1,313
1,173
1,281
1951 (Eetimatsd).
1952 (Estimated).
7,311
8,620
3,263
l.,lltO
669
721
1,390
1,U80
699
697
90
89
327
726
957
201
316
196
26
26
332
35
288
29
Ul
28
5
2
32
32
21
3
33".
1.8
1.92
81
'.7
3
3'.
107
681
379
181
292
256
u.
36
3
33
30
'53
32
572
21.6
63
105
60
35
58
1950 -July
August
September.
October
November .
December.
1951- January
.
.
.
. .
y
Soiuxe: (Eazoe as Table l).
1/ Consists of Civil Service and Foreign Serrlca retlreskant funds.
2/ Includes Adjusted Sarrioe Certificate Fund, District of Columbia,
Indian tribal fisids, island possessions. Increment resulting from re*
ductlon in the weight of the gold dollar, and through June 1950
seigniorage on silver under the Silver Purchase Act of 1931*-
17
38
257
2/
U/
•
3
i/
529
-2
22
Thereafter such seigniorage is included vlth other seigniorage under
b\idget recelpta.
Excludes Foreign Econonic Cooparation Trust Fund (see "Budget Receipts
acd Expenditures", Table 2).
Total Includes $275 aillloo for H»dlcal Care Insurance Trust Fund under
proposed leglelation.
Leas than $500,000.
March i9il
.TEUST ACCOUMT AHD OTHER TRANSACTIONS.
Table 3.- Trust Account Bxpendltnres Other Than Investaents
Treasury Bulletin
10
.TRUST ACCOUNT
AICD
OTHES TRAHSACTIOHS.
Table 5.- Federal Old-Age and SurTlYors Insurance Trust Fund^
(In mlilloDfi of dollars)
Flecal
year
or
month
.
U
-
.
U
3
)
11
March 1951
.TRUST ACCOUNT AMD OTHEE TRAMSACTIONS.
Table 7.- Unemploynient Trust Fund
(
In milllonfl of dollare
state
accounts
Fiscal year
or month
DepoaltB
^y
States
Trans
Contri- fero
butions from
Statee
5,935.0
27U.3
191*1*..
1,566.9
1,507.8
1,279.8
1,31*9.3
109.1*
118.8
116.2
127.6
191*7..
1,289.1*
1,256.0
1,009.9
1,005.3
191*8..
191*9..
1,312.9
1,173.2
1,281.0
1,007.3
98U.O
1,098.8
130.6
1,389.8
1,201.0
1,279.0
11*.
191.5...
191*6
.
1950..
1951 (Eet.)
1952 (Eat.)
1,1*79.7
1950-Jul,v.
35.1*
Aug..
Sept.
287.6
16.8
Oct..
Not..
1951-Jcn.
Inception
to date.
35.1
287.6
9.3
37.7
256.9
31.9
37.5
256.8
21.9
105.2
3l*.5
16,796.1*
111,328.3
105.9
17.1*
U.7
.1*
.1*
.U
8.9
9.6
9.2
.1
9.7
9.0
9.?
5.1*
15.0
InTestmente
1*.0
1.5
1,1*36.5
5,870.0
7,307.2
133.9
7,1*1*9.1
7,1*09.0
1*19.9
7,869.0
7,852.0
8.5
7.8
31.7
11.8
8.U
5.3
1,11*5.9
869.5
817.1*
.5
165.3
180.1
167.1
858.9
1,313.8
2,025.5
798.1
1,227.1
1,879.0
962.1*
7i5.lt
900.0
650.0
62.1*
65.1*
93.2
89.5
89.0
1*.2
81..3
6U.5
60.0
171* .6
182.6
.1
U.l
6.5
61.2
59.7
72.7
70.7
192.3
1,386.0
9,130.1
.2
.1
80.9
l*,367.0
5,878.8
7,315.3
11*6.9
.2
107.2
l*,372.5
.U
(Sano as Table 1).
Source:
1/ Excludes Interim advance of $15 million from the Treasury and subsequent
repayment, both taking place In the fiscal year 19U0.
2/ Represents contributions under the Railroad Unemployment Insurance Act
of 1933, as amended (1*5 U.S.C. 360 (a)). In excess of the amount specified for adjainiatrative ezpenseo. (See "Budget Receipts and Expenditures",
Table 9.)
Unemployment Ini/ Represents amounts transferred from States to Railroad
surance Account equlTalent to amounts of taxes collected with respect to
period fl-co January I936 to June 1939, Indus Its, from employers who come
within the purriew of the Railroad Unenployoent Insurance Act.
.U
bursing
officer's
account
1,506.3
60.0
70.1
1,128.3
71.3
In
trust
account
1*,372.5
2,092.1*
60.6
105.9
In dis-
InTestc^nts
.6
2,21*1.5
.2
»
Unexpended
balance
1*3.2
2S1.U
96.5
123.6
IU3.6
3.1
3.1*
89U.O
Withdrawals
by
States
y
i/
6,6ll*.0
Transfers
from
Administration
Fund
Net
Eallroad
increase,
Unemployor
Transfers ment Indecrease
surance
to Ballrood Unem- Account 1/ In
ploymont
assets
Insurance Benefit
Account 3/ payments
state accounts
Railroad Unemployment
Insurance Account l/
1936-191*3.
Assets, end of period
Kipendlturea other than Inrestmenta
Becelpts
17.2
51.7
.3
.3
l*5l*.o
8,323.0
8,298.1*
18.1
-11*0.6
8,182.1*
7,1*37.9
8,138.3
1*1.
7, 1*11*.
22.1
1*27.1*
.865.3
7,81*6.3
76U.3
8,629.6
8,313.3
5.2
-57.8
198.1
-1*7.6
7,351.3
7,561.3
7,516.3
26.3
15.1
12.9
2.5
1.8
l*.5
7,380.1
7,578.2
7,530.5
56.7
55.1
68.1
l*.5
-23. U
197.2
7,507.1
7,1*88.3
7,701* .3
-1*0.9
7,663.1*
7,686.3
7,639.2
17.0
16.5
23.1
1.9
1.6
1.1
96.
5.9
2.9
7,666.3
7,639.2
25.5
1.6
7,666.3
7,666.3
7,639.2
25.5
1.6
8,582.0
i*/
2/
0/
J/
•
60.8
86.76/
11.6.5
1/
U.6
U.6
107.2
Ulto.9
6/
.Tl*l*.5
19.0 1/
316.3 2/
6.5
2.7
1.5
1/
1.1*
KepreoentB excess fxinda of the Railroad. Unemployment Insurance AdElniBtratlon Fund, under act of Oct. 10, I9U0 (5^ Stat. IO99).
For railroad, unemploynient benefits and refunds.
Includes transfers to the Railroad Unemployment Administration F'lnd
as follows:
$9.7 million in 19U9 and $2.6 lalllion In 1950, representing adjuatznent for over- collect Ions due to retroactive change in
tax rate under the Railroad Unen5)loym3i:t Insurance Act, &e amended
(Kj U.S.C. 35B (a)).
Distribution of unexpended balance not available.
Less than $50,000.
Table 8.- National Service Life Insurance Fund
Treasury Bulletin
12
TREASURY CASH INCOME AND OUTGO.
Table 1.- Ba^UiTy of Cash Transactions
March W7I
13
TREASURY CASH INCOME AND OUTGO.
Table 3.- Derivation of Cash Budget Expenditures
Treasury Bulletin
lit
TREASURY CASH INCOME AND OUTGO.
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
.
)
March 1951
15
GENERAL FUND OF THE TREASURY.
Table !•- Status of the General Fund
(
In mllllonB of dcllare
Bullion, coin, and
currency
End of fiscal
year or month
Dapoelte In Federal
Beaervcj Banks
Available
funds
10,1U9
20,775
25,119
1U,70S
3,730
150
160
1,023
1,073
1,022
1,052
191
219
191
1,928
1950
5,370
3,862
5,9S7
19't3
19'''<
WltS
igue
19l>7
19U8
19l>9
150
151*
761
666
558
21(3
232
In process
of colloctlon
Depoalte In
special
depositaries
1/
other
deposits
and
collections
Uatllltlee
7,667
18,007
22,622
12,993
533
507
289
305
6lt3
962
310
1*38
123
103
1,773
1,771
950
11*3
1,038
l,lilt2
1,500
1,006
1,202
Balance In
the General
Fund
607
9,507
20,169
it21
211,698
1*70
lit, 238
1422
3,308
283
l>38
It,
392
3,268
309
323
1(10
932
3,U70
5,517
19lt9-December,
5,033
1,053
200
81H
91.
2,557
288
351'
It,
1950- July
August. . .
September.
lt,86U
1,0511
1,01»1
195
207
213
566
733
,116
97
102
33''
361.
It,
30U
316
17'»
2,618
3,115
3,065
31lt
U28
500
5,185
5,505
October...
November .
December .
'»,537
'4,586
1,009
lll»
lt,llt5
"1,139
2,3'tlt
298
310
327
Ul»6
690
99
129
2,317
2,232
392
711*
1,052
231
188
181
569
li,72lt
I192
It,
'•,865
1,036
20lt
807
298
2,117
l«J3
I1I2
lt,U5lt
1951- January
.
5,501
5,932
.
1,051
l,01i3
Dally Treasury Statement.
On account of withheld taxes and sales of Government securities.
Source:
1/
Table 2.- General Fund Balance By Months
{End of month. In millions of dollars)
Year
679
232
16
Treasury Bulletin
DEBT OUTSTANDING.
Table 1.- Sunnary of Federal Securities
(In millions of dollars)
Siarch 1951
17
DEBT OUTSTANDING
Table 3.- Interest-Bearing Public Debt
Treasury Bulletin
IS
DEBT OUTSTANDING,
Table 5.- Interest-Bearing Securities Guaranteed by the United States (jovemnent^
(In miUlons of doHars)
"T
Marketable
End of fiscal
year or month
Comoodlty
Credit
Corporation
UI2
U12
Federal
Farm
Mortgage
Corporation
Federal
Housing
Admlnietration
Owners'
Loan
Corporation
23
2U
1,533
755
Public
Housing
Administration
Reconstruction
Finance
Corporatlca
IIU
896
Nonmarke tab le
Ccnmodlty
Credit
Corporation 2/
183
326
375
68
wus
"•,092
19WI
1JU6
1,516
U09
k67
'•3
"•3
U2lt
150
375
U2U
19'>1
83
33
38
'•5
''5
WIjS
69
27
27
U2
ks
13
1950
17
13
16
U
16
1
19U9-Docombor.
27
15
15
1950-Jvay
13
13
15
September,
lU
15
18
18
15
18
October. ,
Novonber.
December.
20
21
22
20
20
21
20
20
21
16
15
15
191'5
19''9
Augxiet.
1951 -January
.
.
,
.
3,908
1,190
930
3''
Source: Daily Troaaury Statement.
1/ Excludee guaranteed eecurltlee held by the Troaaury.
2/ Consiste of denand obllgatlona aa of the close of the previous month.
Consletc of Reconatructlon Finance Corporation notes Series X-A, X-B,
115
176
U
1
and X-C, which were held by United States GorerraDsnt corporatioDa and
credit agencies.
Less than $500,000.
^
Table 6.- Special Iseuee to United States Government Investment Accounts
(In millions of dollars)
End of flacal
year or month
Reconstruction Finance
Corporation
starch
I
'^51
19
DEBT OUTSTANDING,
Table 7.- Computed Interest Qiarge and Computed Interest Rate on Federal Securities
Treasury Bulletin
20
DEBT OUTSTANDING.
Table 0.- Public Debt and Guaranteed Securities Outstanding by Months
(End of month. In lolllloas of dollare)
Year
starch 1951
21
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended
aggregate 5275 billion outstanding at any one time.
Obligations Issued on a discount basis, and subject to
redemption prior to maturity at the option of the owner,
(Jl U.3.C.
757 b), proTldee that the face amount of obligations Issued
and the face amount of
under authority of that act,
obligations guaranteed as to principal and Interest by
are Included In the statutory debt limitation at current
redemption values.
the United States (except guaranteed obligations held by
the Secretary of the Treasury),
shall not exceed In the
Table 1.- Status under Limitation, January 31, 1951
(
In wIltlonB of dollara
Maxljnm oaount of securltlos vhlcta obj b« outetandlng at any one tloe, under liJiltatlGau Ij^oaod bj the act
of June 26, 19I.6 (31 U.S.O. 757 »>)
Amoxmt of eocurltlee outetandlng subject to such statutory debt
D. S .
275,000
lljnl tatlcnl
Goremaent eeourltiea Issued under the Seoond Liberty Bond Act,
aa aaended
255,1.25
18
Guaranteed eecurltlea (ezdudlDg thoae bald by the ^waaury)
Total amount of aacurltlee outetaodlng subject to statutory debt lljnltatlon
19,557
Balance Issuable under llinltatlon.
Source:
255,1.1.3
Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding January 31, 1951
(In mllllcns of dollars)
Claaa of security
22
Treasurij Bulletin
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Intereat-Bearlng Public Marketable Securltiea
Issued by the United States Government
and Outstanding January 31, 1951^
March 1951
23
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding January 31, 1051 ^(Continued)
(In Billions of dollara)
T»«Lr
and
aonth
Treasury Bulletin
zk
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
March /95J
25
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Treasury Bulletin
26
DEBT OPERATIONS.
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
BesTilts of exchange offers
Called or maturing security 1/
Disposition offers
by Treasury
Sate of
refuadln^
or retirement
Bate of
issue
Description
Aaount
outstanding
Cash
retirement
Exchange
security
offered
(In mllliona of dollars)
7/^
7/8)S
7/1A8
7/f¥
Cortlflcato
Certificate
Certificate
-
-
7/l/''8-F
7/l/'t8-0
7/l/'t8-H
7/1A7
8/1A7
9/l/'»7
2,7't2
1,127
2,209
6,078
Total
9/15/ W.
9/1^/hB-A
3/15/38
3/15/U.
3,7'.8
10/1/U8-B
lO/l/US-J
9/l5/l»7
l.,092
-
10/lA8-K
10/I/U7
II/1/U7
1,35''
1,'»67
I2/I5/I18..
12/8/39
571
-
l/l/l»9-A
l/l/l'9-A
12/1/U7
I/1/U8
3,535
2,592
1-1/8* Certificate
-
2/I/I19-B
2/I/U8
2,189
3/1A9
1-1/8* Certificate
-
3/l/'>9-C
3/l/''8
3,553
1./1A9
1-1/^ Certificate
-
l»/l/li9-D
U/1/U8
1,055
6/1A9
1-1/8* Certificate
Bond
2*
-
6AA8
-
6/1/I19-E
6/l5/l>9.
1/15A2
U,301
l.OlU
1-1/a* Certificate
-
7/l/''9-P
7/1/U8
5,783
9/15A9
2*
Bond
-
9/l5/'>9..
5/l5/''2
1,292
10/1 A9
i-i/""* Certificate
-
lo/l/hg-o
10/1/1.8
6,535
i-iA* Certificate
12/l5/'t9-H
- I2/I5/I19..
12/15/1'8
7/l5/l'2
519
2,098
-
12/15 /'•9..
12/15/31*
1>91
-
I2/15A9..
12/15/36
1,786
9/I5A8
IOAA8
I
2-1/2* Bond
1-1/2* note
I
1*
1*
1*
Note
Certificate
Certificate
-
-
6,913
Total
12/15A8
1AA9
{
2*
Bond
-
1-1/^
1-1/W
note
Certificate
-
6,127
Total
2/lA9
{
Total
Bond
2*
3-1/8* Bond
2-1/2* Bond
5,315
-
l.,89lt
Total
1/1/50
3/1/50
"•SI
1-lA* Certificate
-
l/l/50-A
1-1/U* Certificate
-
2/1/50-B
1-1/".* Certificate -
l/l/'.9
5,695
3/1/50-C
3/l/''9
2,922
1,963
3,596
1,993
Bond
-
1-3/^ Rote
-
3/15/50
U/I/50-A
10A9A2
u/i/so
•/i/so
l-l/"** Certificate
-
U/I/50-D
U/I/U9
963
6/1/50
l-l/l'* Certificate
-
6/1/50-E
6/lM
5,019
7/1/50
i-iA* Certificate
-
7/1/5O-F
7/1A9
5,601
1-1/8* Certificate
2-1/2* Bond
Bond
2*
-
9/15/50-G
9/15/50-52
9/15/50-52
9/l5/l»9
1,197
1,186
2*
9/15A8
Total
5,559
-
9/15/38
l'/l5/''3
Total
'',939
7,322
10/1/50
1-1/8* Certificate
-
IO/1/5O-H
IO/1A9
6,21.8
12/15/50
1-1/2* Bond
1-1/8* Certificate
-
12/15/50
I/1/51-A
6AA5
2,635
5,373
I
Total
-
1/1/5"
8,008
-
changed
March 19^1
27
UNITED 3TATKS 3AVIN03 BONDS.
Dnltad States aavlngs bonds were first offered for
sale In March 1933 and began to mature In Maroh 1945,
Series A-D were sold from March 1935 to April 1941.
Series
C,
r,
and a bare been on sale since May 1, 194l.
For Information on the terms and conditions of these bonds,
see "Treasury Bulletin' Issues for December 1947, page 3I
and October 19^5, pages A-4 and A-5.
In addition to the Information on savings bonds
operations whloh appears each month, data by denominations
and dollar sales by States are published at less frequent
Intervals but are shown on a monthly basis.
Series A-P sales are shown at Issue price and total
redemptions and amounts outstanding at current redemption
values.
Series d Is shown at face value throughout.
Matured bonds whloh have been redeemed are Included In
redemptloms. Matured boods outstanding are included In
the Interest-bearing debt until all bonds of the series
have matured, when they are transferred to matured debt
upon which Interest has oeased.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through January 31, lOSl
Treasury bulletin
2i
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptlona of Series A-D, B, P, and 6 by Periods
(Jn OLllllonfl of dollars)
Accrued
discount
BademptloDB 2/
S&lss plua
accrued
discount
Sales
price
^
Aaount outfitaodlng
Accrued
dlecQUDt
ltetur«d
debt
Intereatbearlug det)t
Fiscal ^eare:
1935^19^2
3,91*9
19l»3
19'»'>
191*5
ig"**
19't7
2U6
92
96
103
106
107
no
l.9^&
19lt9
101
68
1950
'*,195
92
96
103
106
107
110
101
68
591
88
79
572
82
72
19
6
8
25
3,601.
l'*3
117
309
ua2
516
703
1,081
21*2
67
18
370
393
530
812
113
123
172
1.0
637
81
78
226
390
U81
576
838
1,023
615
269
59
73
92
3,608
3,625
3,585
3,365
2,968
2,51*3
1,927
895
Calendar years:
191*8
291
9U
100
105
107
109
108
191*9
86
1950
1*5
3,9'*9
V3i'i-h2
19*1
19'tl*
i9l»5
19l>6
19^1
Months:
1950-Julj
August. . .
September
October..
Norenbor .
Decenber.
1951- January .
!i,Sl»0
9U
100
105
107
109
108
1*5
661*
191*2
191*3
I9I1I*
191*5
I9I16
191*7
191*8
191*9
1950
Calendar years:
I9I1I
191*2
191*3
19W*
191*5
191*6
191*7
191*8
191*9
1950
Mcmths:
1950-July
August. ,
September.
.
October. ..
KoTaaber .
Decenber,
1951-January .
.
1*36
631
765 P
111*
139
207
258 p
56
1|2
lU
U8
16
1*2
32
56
50
70
37
Series E, F, and a
191*1
179
302
367
22
7
8
U7
87
6U
.
Fiscal years:
7k
70
u
3,603
3,616
3,638
Ul
87
122
1U6
203
229
3,1*77
3,11*8
2,71*2
87
81
77
850
796
759
72
69
661*
2,250
1,1*40
1*37
52 p
lU
12
17 P
229
1*37
89 p
31 P
17"*
375
1*2
710
March 1951
29
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redeaptlons of Series A-D, B, F, and G by Periods - (Oantlnoed)
Treasury Bulletin
30
UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods
-
(Continued)
(DoLLar amounta In allllans]
SaloB 1/
Accrued
discount
Sales
plus
accrued
discount
Redemptions 2/
Sales
price
Accrued
discount
Amount
outstanding
(interestbearing debt)
Percent of monthly
redemptions
to amount
outstanding
Fiscal years:
igsrrrrr.
igiis
igiis
19W*
19l»5
19W
igitT
191*8
igits
1950
395
2,032
2,759
2,876
2,658
2,U65
2,561
1,907
2,390
1,1A9
395
2,032
2,759
2,876
2,658
2,U65
2,561
1,907
2,390
1,W>9
1,185
2,516
2,6Uo
2,891
2,520
2,637
2,267
2,573
1,392
1,990
1
12
1
12
55
3'*8
55
13U
220
3U8
1*69
1.69
566
619
621
566
220
619
621
391.
2,UlU
5,119
7,861
10,299
12,1.16
1U,508
15,850
17,621
18,W.8
Calendar years
Will
igte
1,185
2,516
19'>3
2,61i0
19W»
WltJ
19"^
19^7
2,891
2,520
2,637
2,267
2,573
1,392
1,990
19lt8
19l>9
1950
2
2
29
89
181
29
181
26ii
261.
U,186
1126
512
U26
512
618
618
613
682
613
682
13,397
15,152
17,108
17,887
60
59
60
59
65
16,U86
.32
.32
18,1.79
.35
89
1,183
3,669
6,221
8,931
ig.wu
Months
1950-July
August. . .
September.
October. .
November .
December.
1951- January .
.
87
70
58
87
70
58
555
y
1535/
555
197 5/
115
65
18,1.75
60
62
18,973
19,065
197
60
62
68
68
W.Wl"
.32
.32
.35
U5
66
66
19,2''3
.31.
153
Source: Dally lYoaaury Statement; Office of the Treaeurer of the U. 3.
1/ Beginning with June 19'*7, Series E salea include unclaeaiflod ealee
confllstlng of Series £, ?, and G. The amounts are eubetantlollj leas
than the ealee reported aa unclaaelfled in the Dally Treaaury Statement.
The greater part of that Item conelete of salea for which information
ie available as to the aerlea but not the year of issue.
On the baale
of that information such salea are included In this table according to
aeriee. Prior to June 19^7, it was poeaibl© to distribute by aerlee
all sales reported ae unclasalfied In the Dally Treaaury Statement.
2/ Series E redemptions include unclaaslfled Series A-D redemptions beginning with October 19^U, and alao unclasalfied F and G redemptions,
beginning with June ig^i?.
Includes both matured and unmatured bonds; see Table U.
Includes salea resulting from special offering of Series F and Series G
to certain clasjea of Inatltutlonal investors in excess of regular limitations (see "Treasury Bulletin" for September 1950, page A-l). These salea
were as follows (in millions of dollars)
mi
March
31
TREASURY SAVINGS NOTES.
Treasury savings notes (originally designated tax
savings notes) have been issued In four series:
Series A
from August 1, I9IH, through June 22, igl^J; Series B from
August
1,
V)^\,
through September 12,
19't-2;
Series C from
September l4, 13^2, through August 3I, 194g; and Series D
on continuous sale beginning September
1,
igl+S.
tion, and Investmait yields of Series D notes vdll be found
19'+S,
page A-1,
and
September 19^9, page A-1. Similar Information concerning
Series C notes will be found In the "Treasury Bulletin" for
October
19'+5,
pages A-4 and A-5-
terms and conditions,
and months, see "Treasury Bulletin" for February
pages
't-2
and
For details concerning
Investment yields, and tax payment
In the following tables 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
outstanding are reflected in the Interest-bearing debt
until all notes of the series have matured, when they
are
transferred to matured debt upon tdilch Interest has ceased.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through January 31, 1051
(In millions, of dollars)
Series
191*6,
K"}.
Details
concerning terms and conditions for purchase and redempIn the "Treasury Bulletin" for October
or redemption values of Series A and B, see "Annual
Report of the Secretary of the Treasury" for 19'*2, pages
207 and 220, and for sales and redemptions by fiscal years
Treasury Bulletin
32
OWNERSHIP OF FEDERAL SECURITIES,
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
March 19^1
33
OWNERSHIP OF FEDERAL SECURITIES,
Table 3.- Estimated Ownership of Federal Securities by Bank
and Nonbank Investors
(Par values l/ - in billions of dollars)
Held by banks
Total
Federal
securities
outetand
ing 2/
End of
month
Ccnnihgrcjal
banks
^
Held by nonbank investors
Individuals h/
Federal
Beserve
BankR
Insurance
companies
Savings
bonds
Mutual
savings
banks
Corpo2-a-
tlons 5/
State and
local
governments 6/
1939-DoceBiber.
U7,6
18.1.
15.9
2.5
29.3
10.1
1,9
8.2
6.3
3.1
igUO-June
1>8.5
16.1
17.3
2.5
2.2
29.9
31.5
10.1
10.6
2.6
2.8
7.5
7.9
6.5
6.9
3.1
3.2
2.1
2.0
19.7
2.2
2.3
33.5
11,2
13.6
3.6
7.6
8.2
7.1
8.2
3.1*
2.0
.6
110,6
3.7
1*.0
.7
U8.3
65.2
17.8
23.7
9.1
8.7
10.3
9.2
11.3
3.9
•.5
'*.9
,9
10.1
13.1
15.1
5.3
12.9
21i.7
11,7
12,9
6.1
l6,li
31.2
36.2
lU.S
16.7
17.3
19.6
7.3
20.0
3.2
8.3
Decomljer,
50.9
18.6
19.5
1911- June
December.
55.3
6U.3
21.8
23.7
21. 1»
77.0
112.5
28.7
26.0
''7.3
'tl.l
2.6
6.2
ighJ-J\me
December,
lUo.8
170.1
59,1'
71.5
52.2
59.9
7.2
11.5
81.U
98.7
30.9
37.6
19lU»- June
83.3
96.5
68.U
77.7
111.9
18.8
119.3
135.6
1.6.0
December.'
202.6
232.1
igUj-June
December,
259.1
27S.7
106.0
115.0
811,2
21.8
58.9
18.3
22.7
90,8
2't.3
153.1
163.6
63.7
20.7
2l*.2
279.8
269,9
259,5
116.7
108.2
97.9
93.8
8U.U
22.9
23.8
23.3
163.1
161.7
161.6
63.7
63.0
63.8
20.1*
2ll,7
7'*.
19,5
19.7
25,1
25,2
258,U
257,0
91.9
91.3
70,0
68,7
21.9
22.6
166.5
165.7
66.0
65.3
'•5.5
li6,2
20,5
19.1
2ll,8
WliS-March
June
September,
December.
253.1
86.0
85,9
85,8
85,8
65.1
6U.6
65.1
65.3
65.5
116,9
19^9 -January..
February.
March,...
252,
252,
251,
19ll2-June
December
19lt6-February (Peak)
June
December,
,,
19lt7-June,.;.;
December,
252. li
252,7
252.9
8U,5
82,2
20.9
167.0
21, ll
23. It
166,1;
62.
5. It
13.''
19.2
52.9
62.5
23.3
65. ll
I17.8
22.1
22.3
21.7
167.9
168.3
169.5
65.7
66.1
66.2
'18,1
168.7
2/8/
6.5
.1.
.5
7.1
7.6
.7
.7
8,5
9.5
.7
1,0
10.6
12.2
1.1
2.3
1.5
l't.3
3.1*
2.1
16.9
It.
6.1*
8.9
9.5
.9
It
21.
''.3
9.6
10.7
22.9
22,0
5.3
21*.
6.5
27,0
11.1
11.5
11.8
19.9
17.7
15.3
6.7
6.5
28,0
29,1
30,9
9.1
8.8
13.9
7.1
7,3
32.8
9.8
2U,1
12.1
12.0
3"t.U
8.6
18,2
18,1
18.0
17.5
23,6
23.1
22.3
21.5
12.1
12.0
11.7
11.5
IU.6
13.5
13.9
111.3
7.8
7.8
7.8
7.9
35.0
35.8
36.8
37.3
8.9
9.1
8.9
9.3
17,6
17.8
17.7
21.5
21.5
21.3
11.6
7.8
7.9
7.9
37.1*
9.1.
U.6
U.6
lU.U
IU.6
15.1
37.5
37.7
9.2
9.6
17.7
17.7
17.8
21,2
21,0
20.8
11.6
11*.
U.6
U.6
llt.7
15,1
7.9
8,0
8,0
37.5
37.5
38.3
9.8
10,2
10,0
U.6
U.6
U.6
15.1*
8,0
16,0
16.0
8.]
38.5
38.9
8,0
39.1*
9,9
10.1
9.9
16.6
16.7
16.3
8,0
8.0
8.0
39.3
39.3
I17.6
62.7
62.1
60.5
Miscellaneous
investors
19.1
21.7
U7.I
166,9
167.1
a. s.
Government
investment
accounts j/
'i8,3
'i8,5
llt.l
6.3
7.1.
8.3
April.
May...
June,.
251.
251.
82,0
ee.i.
61.8
62.7
63.0
21.1
19.7
252.8
19.3
169.5
170, It
66,3
66,U
66,6
July
August. . .
September.
253.9
255,9
256.7
83.2
83.9
8U,5
61.,
18.5
17.5
18.0
170,7
171.9
172.2
66,7
66.8
66.8
19.0
66.
66.5
19.1
17.7
17.8
17.7
20.6
20,5
20,5
October.,
November,
December
256.8
257.0
257.2
8U,6
8U,5
85.7
67.3
66.8
66.8
17.3
17.7
66.6
66.5
66.2
li9.1
17.5
20.5
U.5
Ii9.2
17.3
20.lt
U.l*
18.9
172.2
172,6
171.5
"19.3
16.9
20.5
U.U
1950- January.
February.
March
256.9
85.3
8U.2
82.5
67.
66.
17.8
17.7
17.6
171.6
172.2
173.2
66.3
66.6
66.6
I19.I1
16.9
17.0
16,9
20.5
20.5
20.5
16.8
17.2
18.1
8.0
8.0
39.0
U.5
U.6
8. It
37.6
65.2
65.8
65.6
17.8
172.7
173.2
173.5
66,8
67.0
67.2
1*9.8
1*9.8
17.0
20.5
20.3
20,1
U.6
U.6
U.6
17.7
18,1
18,3
8.U
8.3
8.2
37.3
37.U
257.''
83,0
83.2
83,9
37.8
10.5
10,6
10.2
July
August. .
September.
257.6
257.9
257.2
''9.9r 17.5r
li9.8r 17.7r
l>9.7r 17. 6r
11.5
18,8
19.5
19.5
8,3
8.3
8.2
38.0
38.1
38.9
10,9
10,8
10,7
October
November *
December p
257.0
257.1
256.7
19.9
20.1
19,3
8,1
8,1
7.8
39.0
39.2
39.2
U.3
U,l
256.
255.7
April.
May,,.
June.,
255.7
256.1*
.
1/
2/
i/
y
.
. .
82.il
61t.9
17.'.
IS.3
fi2.6
18.0
18,1*
19.6
175.0
175.5
175.6
67.11
82 ,U
81,7
19.3
19.7
175.6
176.1
20.8
17lt.3
67.3
67.3
67.1
62,1
61.3
61.6
81.3
81,0
82.
67.5
67.3
U8.6
'18,7
U8,8
119.0
1*9.
•9.7
1*9.9
'*9.6r 17. 7r
U9,6
I19.6
United Statea aavlngs bonds, SerloB -D. E, and F, are Included at
current redemption values.
Securltlea laaued or guaranteed by the U. S. Goverrment, excluding
giiaranteed securities held by the Treasury.
Conalete of connnerclal banks, tmst companies, and stock savings beuiks
in the United States and in Territories and island possessions.
Figures
exclude securities hold in tnist departments.
Includes partnerships and personal trust accounts. Nonprofit Institutions and corporate pension tmist funds are included under "Miscellaneous Investors"
Exclusive of banks and insurance companieB.
Consists of trust, sinking, and investment funds of Stat© and local
governments and their agencies, and Territories and Island possessions.
.
17.2
17.3
17.7
17.5
2/
8/
p
r
11.5
11.1*
U.2
19.5
19.2
19.0
U.l
10.9
10.9
39.1*
38.1.
9.7
10,2
9.8
9,5
10,0
10,5
10,8
Holdings by Federal land banks are included under "Miscellaneous
investors" instead of "U. S. Govemnient investment accounts" beginning with June 30» 19^7, since the proprietary interest of the
United States in these banks ended June 26, I9U7.
Includes savings and loan associations, nonprofit institutions,
corporate pension trust funds, dealers and brokers, and investanents
of foreign balances and international accounts in this country. Boginning vlth December 19^, includes investmente by the International Bank for Reconstruction and DeTelojanent and the International
Monetary Fund In special nonln teres t- bearing notes issued by the
U. S, Government.
Preliminary.
Revised.
Treasury Bulletin
3*^
.TKKASUPy SURVEY OF OWNERSHIP, BECDfflKR 31, 1950The Treasury Survey of Ownership covers securities
Issued by the United States Government and by Federal
agencies. The banks and Insurance companies Included
In the Survey account for approximately 95 percent of
such securities held by all banks and Insurance conpanles
Data were first published for
In the United States.
March 31, iglH, In the May ig^+l "Treasury Bulletin".
Section
I
Information on the distribution of ownership by types
of banks and Insurance companies Is published each month.
Additional Information showing the holdings of commercial
banks distributed according to Federal Reserve member
bank classes and nonmember banks Is published for June 30
£md December 3^-
Securities Issued or Guaranteed by the United States Govenaent
Table 1.- Sunmary of All Securities
March W5l
35
.TRKftSUBY SURVEY OF OWNERSHIP, DECEMBER 31, I95O.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.
-
Interest-Bearing Public Marketable Securities by Issues
(Par values
iBBue
(Tax BtatuB 2/ is shown In parentheses)
-
In millions of dollars)
36
Treasury Bulletin
.TRKASUPY SURVEY OF OWKERSHIP, DTCBfflKR 31, 1950.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par values
Issue
(Tax status £/ le shown In parentheees)
-
In mllllonB of dollars)
-
(Continued)
Slotvh
Nil
37
.TPKASUFY SURVEY OF OWNERSHIP, DECIMHKF 31, 1950.
Section II
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par veauee
leeue
(Tax statue 2/ 1^ shown In parentheses)
-
In
milHona of dollarQ)
Treasury Bulletin
38
.TKKASUBY SUH7EY
-
COMMERCIAL
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
I
-
OWNERSHIP, DECEMBER 31, 1950
,
This analysis of commercial bank ownership was first
published In the May
United States Government and by Federal agencies. The
figures show the total holdings distributed according to
Fednral Reserve member-bank classes and nonmeraber banks.
Section
BAKfC
igW
Issue of the "Treasury Bulletin",
based on the survey data for December 31, 19't-3. It has
appeared at semiannual or quarterly Intervals since that
time,
and Is now being published for the June 30 tmd
December 3I survey data.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
{Par values
ClaoBlflcatlon
-
In Eallions of dollnra)
Sduvh i'H/
39
.TPEASUPY SURVEY
Section
-
COfWERCIAL BANK OWNERSHIP, DECIMBEF 31, 1950
Interest-Bearing Securities Issued or Guaranteed by the United States Government
I
Table
3, -
Public Marketable Securities by Issues
(Par valuea
leoue
(Tax status
^
,
Is shown In parentheses)
-
In millions of dollars)
Treasury Bulletin
1+0
.TFEASURY SURVEY
Section
1
-
COMMERCIAL BANK OWTfERSHIP, DECEMBER 31, 1950,
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities by Issues - (Continued)
-
(Par values
laaue
(Tax statufl
^
lo shown in parentheses)
-
In millions of dollare)
»H
March /'HI
.THEASUPy SURVEY
Section II
-
COKMERCIAL BANK OWNEFBHIP, DECIMBEP 31, 1950
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
Treasury Bulletin
kz
.MAFKET QODTATICmS, JAKTIARt 31, 1951.
Market quotations shown here are over-the-counter
closing quotations In the New York market for the last
trading day of the month, as reported to the Treasury by
the Federal Reserve Bank of New York,
listed In Section
I
The securities
Include all public marketable secu-
the only public marketable interest-bearing guaranteed
Section II lists the public
securities outstanding.
marketable securities issued by Federal agencies but
not guaranteed by the United States Oovernment.
quotations for the securities listed in Sections
rities issued or guaranteed by the United States Government except those not regularly quoted in the market.
ment,
The issues excluded are postal savings bonds £md Federal Housing Administration debentures. The latter are
Agencies"
Section
I
-
outatandlilg
(MllllonB)
Dally
and II
are published monthly in the Treasury Department state"Prices and Yields of Public Marketable Securities
Issued by the United States Government and by Federal
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable!
Amount
I
March 1951
•^3
.MARKET QUOTATIOKS, JAHUARY 31, 1951-
Sectlon
I
Securities Issued or Guaranteed by the United States GoTeminent
Table 3 •- Tax-Exempt Bonds 2/
44
Treasury Bulletin
.MARKET QUOTATIONS, JAHUARY 31, 1951-
YIELDS OF TREASURY SECURITIES, JAN.
Based on Mean
of Closing Bid
31 1951
and Ask Quotations
PERCENT
PERCENT
Explanation: The points represent yields to calf wtien prices ore above par. and ta maturity dote wtien prices are at par or below.
The smooth curves for the various classes of points are fitted by eye. Issues for which on exchange offer has been
made or which are due or callable in less than 3 months are excluded.
Office of tha S«cretory of the Treosury, Office of the Technical Staff
March t95l
^5
YIELDS OF TREASURY AND CORPORATE BONDS.
Table 1=- Average Yields of Long-Term Bonds by Periods
Treasury Bulletin
46
.YIELDS OF TFEASUEY AND CORPORATE BONDS-
o
cvj
Q
O
CO
liJ
q:
o
Q.
q:
o
o
>-
CM
(0
CM
March 1951
'^7
INTERNAL REVENUE COLLECTIONB
Table 1.- Summary by Principal
(In thoiiaaxule of dollare)
71acal year
or nonth
Sources^
Treasury Bulletin
ki
_ INTERNAL
REVENUE COLLECTIONS
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS
Billions
40
— v:
30
— Y/y.
%^Comparison
6 months
%
Fisco/ year
first
fiscal
years 1950 and 1951
20
1936
'38
DOLLARS
DOLLARS"
Billions
Billions
20
20
Individual
Income Toxes
IS
18
16
14
12
12
10
10
8
6
^i2
1936
SB
'40
'42
Estote and Gift Taxes
'44
'46
'48
'50
1
.
.
.
,
.
.
)
March 197
49
INTERNAL REVENUE C0LLECTI0N8.
Table 2.- Detail of Collections by Type of Tax
{
In thouBonds of dollara
Fiscal year
Typo of tax
19l<9
Income and profits taxes:
Individual:
Withheld by employers
Other:
Current s/
Back
Total Individual income taxes
Corporation:
Income taxes;
Current 2/.
Back
1950
^
Total corporation Inccane and profits taxes
Total Income and profits taxes
Employment taxee:
Social security taxes:
Old-age insurance
Unemployment insurance
,
. . .
Total social security taxes.
Railroad retirement
Total employment taxes
MlBcellaneoue internal revenue:
Capital stock tax 6/,
Estate tax.
01ft tax.
Liquor taxee:
Distilled epirits (imported, excise)
Distilled spirits (domestic, excise)
Distilled spirits, rectification tax
Wines, cordials, etc. (imported, excise)
Wines, cordials, etc, (domestic, excise)
Dealers In distilled spirits; rectifiers;
facturers of stills (special taxes)
Stamps for distilled spirits Intended for
Case stamps for distilled spirits bottled
Container stamps
Floor taxes
Fennented malt liquors
Brewers; dealers in malt liquors (special
1950
(December I9U9)
1951
1951
(December 1950)
9,888,976
U, 801, 689
5,''65,313
35,981
21*5,258
7,363,329
632,991
6,659,007
605,325
1,1*75,102
2Ul*,56o
l'7.517
207,861
286,132
1,558,878
321,959
18,051,822
17,153,303
6,562,923
7,31*6,150
328,056
502,303
10,50U,602
9,927,376
832,211
5,5''0,102
'',655,203
2,211,61*9
301,302
27'', 53''
1,856,058
37,877
300
1*1*,
507
1*9,168
19li,l»95
7,192
87,366
'•3,128
2,816
38,815
297
208
2011
''2
316
6,966
167
11,553,669
10,85lt,351
5,889,035
'',971,''10
2,263,605
1,907,333
29,605,1191
28,007,659
12, ''51,958
12,317,561
2,591,663
2,1*09,61*1
1,687,151
236,228
1,873,1*01
855,202
33, ''87
1,392,608
33,675
5,11*6
1,1''7
21,1*58
223,135
1,913,379
2,096,537
888,689
1,U26,283
6,293
23,61*8
16,233
^.
1950
Sixth month of fiscal year
10,055,502
338, 0U2
Excess profits taxee:
Declared value
Revenue Act of IJltO hj
Army and Navy contracts
FlTBt 6 months of fiscal year
It,
676
12,721
2,190
562,73''
5118,038
281*,910
281*, 059
86,792
9l>,102
2,1.76,113
2,6W',575
1,173,599
1,710,31*2
93,085
U7,750
6,138
266
236
735,781
657,''J'l
3''5,073
296,538
57,81*0
1.1,81.1
60,757
1*8,785
5,5''2
6,297
1,01*8
1,691
126,3Uli
97,782
63,33't
30,069
2,600
70,001
71,003
700,997
16,958
1,382
35,822
311,691*
13,809
97,233
2,120
610
6,779
18,677
132,107
3,653
529
5,271
9,973
9,860
5,227
6,319
11*1
117
5
9
7
1
3
375
11,907
20
686,368
738
11,825
6
383
59I'
68
102
6,317
826
5
667,''ll
3'.8,969
l*,U30
'',78''
3,171
8,177
6
SI'S, 562
3,152
2,210,601
2,219,196
1,191,236
''5,530
1*2,112
22,31'*
59
7
35,''35
58
6
1,2U2,8U5
7,389
35,070
81»1
98I*
121,773
1,276,175
33,793
2,U48
1,295,5''9
8711,157
20,367
2,23U
manuexport..
in bond.
taxes)..
Total liquors taxes
Tobacco taxes:
Cigars (large)
Cigars (small)
Cigarettes (large)
Cigarettes (small)
Sn\iff
Tobacco (chewing and smoking)...
Cigarette papers and tubes
Leaf dealer penalties, etc
Cigarette and cigar floor taxee.
Total tobacco taxes.
1,232,726
7,272
2
1,221.
•
•
1*7,898
''6,393
7'*
61
1,391,052
169,557
208,137
22,951
28
2,915
33
3
3
618,879
3,757
638,71*0
17,81*8
518
3,59a'
17,103
560
3
»
•
86,300
683
2,298
81
85,927
559
1,871
196
3
1
1,321,875
1,328,1*61*
663,353
682,982
92,279
92,1*11*
W,667
50,156
22,720
27,038
l*,0l.8
'*,8l8
17,910
23,823
9,1*29
13,557
7,56'.
10,51*6
'',71'*
"•,959
123
25
1,760
898
6
2,293
6U2
687
72, BBS
8U,6U8
1.5,580
6,712
7,757
Stamp taxes:
Bonds, isBuBB of capital stock, de< fi of
conveyance, etc
Transfers of capital stock and slm jor interest
sales
Flaying cards
Silver biUllon sales or transfers
Total stamp taxes.
Footnotes at end of table
55_
36,919
(Continued on following page)
1*
Treasury Bulletin
50
INTERHAL REVENUE COLLECTIONS,
Table 2.- Detail of Collections by Type of Tax^
-
(Continued)
(In thousande of dollarej
First 6 taonths of fiscal year
Fiscal year
Type of tax
19U9
HlacallanBous Interpal roTenue (continued)
1950
1950
:
Manufacture re* excise taxee:
Lubricating oils
Gasoline
Tlree and tubea
Autcmobile trucks and buses
Other automDbiles aad motorcyoles
Parts and accessories for autaaoblleB
Electrical energy
Electric, gas, and oil appliances
Electric light bulbs and tubes
Badlo seta , phonographs , components etc
Phonograph records
Musical Instruments
Mechanical refrigerators, alr-condltloners , etc..
Matches
Business and store macblnoe
Photographic apparatus
Sporting goods
Firearms, shells, and cartridges
Pistols and reTolvere
,
Total manufacturers* excise taxes
Retailers* excise taxes:
Furs
Jewelry
Luggage
Toilet preparations
Total retailers • excise taxes
Miscellaneous taxes:
Sugar Act of 1937
Telephone, telegraph, radio, and cable faollltles
Local telephone service
Transportation of oil by pipe line
Transportation of persons , etc
Transportation of property
Leases of safe-deposit boxes
Admissions to theaters, concerts, etc
Admissions to cabarets, roof gardens, etc
Club dues and Initiation fees
Bowling alleys, pool tables, etc
Coin operated devices
Adulterated and process or renovated butter, and
filled cheese
Oleomargarine, Including special taxes 2/
Narcotics, Including marlnuann and special taxes.
Coconut aM other vegetable oils processed
National Firearms Act
All other. Including repealed taxes not shown
separately
Total miscellaneous taxes
Total miscellaneous Internal revenue
Total Internal revenue collections
Adjufltment to Dally Treasury Statement
Total receipts frcmi internal revenue (Dally Treasury
Statement)
81,760
503,61(7
<
,
,
150,899
136,797
332,812
120,138
79,3''7
80,935
26,172
1*9, 160
6,UB3
9,293
77,833
8,738
33,3Wt
lt3,lU0
19,81;6
10,379
810
1,771,533
77,610
526,732
151,795
123,630
38,529
272,101
li52,066
250,01.8
1.7,033
1.0,710
88,733
85,701.
80,1.06
79,1.21.
60,062
36,909
20,726
9,21.5
1.2,005
18,191
5,769
8,865
61., 316
8,875
30,012
39,931
18,969
9,351
2,1.00
l<,17l.
27,503
l.,806
lit, 1.13
21,617
7,351.
5,1*1
1.81
2I.5
1,836,053
9llO,20li
61,9116
1.5,781
19,771
210,688
32,607
93,969
190,820
77,532
91., 995
82,li87
Uli9,gll
1.09,128
180, U38
76,171*
311,380
22U,531
19,325
251,389
337,030
9,U6l
71,188
312,339
21.7,281
18,919
228,738
321,193
311,926
1.3,255
39,821.
155,676
118,667
9,1.03
126,185
163,1*12
9,551.
l.,1.33
385,81.3
118,857
371,2l.l»
201,91.5
1.1,1.53
21,1.61.
27,790
3,805
21,088
28,71.0
13,01.3
2,81.8
21
12
2
17,5111
29,297
867
15,857
15,1.78
315
17,li60
U
3,608
20,17U
16,638
368
9,085
7
1.
281.
273
1.37
1,752,792
1,720,908
8,381,515
8,301., 892
»o, 1163,119
38,957,126
-155,831.
^.91,1.82
U0,307,285
39,W.8,607
51
March 1951
MONETARY STATISTICS,
Table 1.- Money In Circulation
(
End of fiscal
year cr mcxith
In olllloDjB of dollars oxcept aa noted )
Treasury Bulletin
52
MONETARY STATISTICS,
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amDunts In millions)
(»35 per
fine ounce)
U,298.5
22,387.5
21,1T3.1
20,213.0
20,269.9
21,266.5
19*3
19Wt
Wk?
WW
W"!?
Ratio of silver
to g<Ud and
BllTer In
monetary stoclcs
(In percent)
Silver
($1.29* per
fine ounce
(Jo Id
End of fiscal
7«ar or skontb
3,685.8
16.1
15.7
15.*
3,508.1.
U.8
3,525.7
iU.Z
13.2
12.9
3,9'»7.9
igW
wus
23,532.5
1950
2U,230.7
3,571.0
3,618.3
3,671.5
19lt9-Ileo
2U,U27.1
3,61.3.1
13.0
1950-Julj
August. . .
September
2U,136.U
23,626.9
23,Ua2.8
3,676.3
3,680.9
3,685.8
13.2
13.5
13.6
October. .
November.
December.
23,2U9.U
23,036.7
22,706.1
3,690.8
3,692.8
3,697.1
13.7
13.8
22,392.2
3,702.8
lb .2
2li,l466.3
1951- January p.
Source: Circulation Statement of U. S. Money; Sally Treasury Statement for
preliminary figures. For detail of silver monetary stock, see Table U.
p
13 .a
1>).0
Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(
In millions of dollars
LlabUltles
End of calendar
year or month
Gold assets
Gold certificates 1/
21,937.8
20,618.8
20,06U.9
20,529.0
22,753.9
18,1.30.5
21,5iJ..O
191.9
211,21.3.9
21., 1.27.1
23,010.0
23,217.9
1950
22,706.1
21,1.97.5
191.3
191.1.
WkS
191.6
191.7
I9I18
1950- July
August. .
September.
19,821.0
18,1.97.1.
17, 911..
156.0
156.0
156.0
1,008.U
21,1.97.5
21,200.0
156.0
1,036.1
October...
November
December.
23,21.9.1.
22,085.0
21,837.6
1951- January p.
22,392.2
Source: Clroulntlon Statement of U. S. Money; Daily Ireaauiy Statement for
preliminary figures.
1/ Comprises (1) gold certificates held by the public ai^ In Federal Reserve
Banks; and (2) gold certificate credits In (a) the gold certificate funi -
191.. 8
11.2.1.
1,053.9
1,053.7
22,1.29.8
22,275.1.
23,036.7
22,706.1
160.7
165.U
156.0
156.0
156.0
22,926.6
.
1,800.0
1,800.0
1,800.0
1,800.0
Gold In
General Fund
1,077.9
1,053.2
1,052.6
136.1.
21.,
156.0
156.0
156.0
156.0
156.0
Exchange
Stabilisation
Fund i/
156.0
156.0
156.0
23,626.9
23,ua2.8
.
Gold reserve
against U. S.
notes, etc. 2/
2/
^
p
1,01.1.0
1,051.1.
1,01.3.1
1,052.6
Board of Gcvemors, Federal Reserve System, and (b) the redemption
fund - Federal Reserve notes.
Reserve against United States notes and Treasury notes of ld90.
Excludes gold In active portion of Exchange Stabilization Fund,
Preliminary.
.
. .
..
.
,
U
.
3
.
March I9il
53
MONETARY STATISTICS.
Table 4.- Components of Silver Monetary Stock
(In millions of dollara)
Sliver held in Treaaury
End of calendar
year or month
Securing silver certificatos l/
Silver
bullion 2/
1,520.0
1,520.1
1,703.9
1,911.2
1,937.6
19^*3
iguii
19''5
13lt6
igu?
igw
Silver outalde
Treasury
In General Fund
Silver
dollars 1/
Silver
dollars
Subsidiary
coin
Bullion for
recolnage k/
Bullion
at cost 2/
UOO.l*
lU.U
12.5
10.2
19.1
96.8
117.5
137.5
150.1
156.3
901.1
928-7
971.5
982.2
1,022.2
993.8
^
.l.
H.O
337-2
1?-1
551.8
U05.6
185.6
93.1
91-1
328.1
321.9
312.8
5.9
89.3
U.U
376.5
356.1.
31*3
.1
Subsidiary
coin i/
Total
silver
at $1.29+
per fine
ounce
68U.7
771.6
l.,207.3
81.6.7
3, 51?.
3,511. .2
3,870.6
3.5''7.9
19't9
1,971.5
2,003.2
1950
2,0li0.7
3.6
95.1
165.0
171.0
179.8
1950 -July
August. . .
September.
2,026.7
2,029.7
2,032.8
318.8
317.5
8.3
10.3
316.1*
8.9
98.2
98.0
97.5
173.7
175.0
176.2
2,036.0
2,038.9
2,OU0.7
315.8
313.8
312.8
5.3
2.1l
3.6
97.8
96.0
95.1
176.8
178.8
179.8
1,022.2
3,690.3
3,692.8
3,697.1
2,0ltU.2
312.7
5.1
95.5
179.8
1,021.9
3,702.8
October. .
November.
December.
1951- January p.
Circulation Statement of U. S. Money; Dally Treasury Statement for
certain preliminary figures
Valued at $1.29+ per fine ounce.
Includes silver held by certain agencies of the Federal Government (see
Dally Treasury Statement for amount). Does not Include silver lendleased to foreign govemmente (these transactions all took place during
the fiscal years I9I.2 through I9I.6; see I9I.6 Annual Report of the
Source:
1/
2/
^
Secretary of the Treasury
Valued at $1.38+ per fine
Valued at $1.3&+ per fine
to whether the bullion la
coins or for recclnage of
Preliminary.
Less than $50,000.
996.1.
1,002.6
,008.9
,015.7
3,596.
3,6U3,
3,697.
3,676.3
3,680.9
3,685.3
for amounts )
ounce.
ounce or at $1.29+ per fine ounce according
held for recolnage of subsidiary sliver
standard silver dollars.
Table 5.- Silver Production in the United States and Acquisitions by Mints and Assay Offices'
(In millions of ounces or dollarG)
Calendar year
or month
Silver
production In
United States
191'3.
1.0.8
19Wt.
191.5.
35.7
29.3
Silver acquisitions by mints and assay offices
Nevly mined dcmsstlc
silver 2/
3.9
»
5.5
.9
1..9
.6
.9
U.U
191.6.
21.
36.1
30.3
191.8.
36.1
3U.6
U2.1
36.8
33.0
33.3
29.9
1.1.3
37.1.
2.0
2.6
2.8
2.1.
March ....
3.0
2.5
3.7
April.
May...
June.
ll.2
5.7 r
5.2
3.9
2.7
1..U
1..0
1..2
July
August. .
September.
U.l
3.7
U.2
October. .
November.
December.
2.7
1950.
1950- January .
February.
.
^
5.5
191.7.
191.9.
Foreign silver
it/
27.1.
1.8
2.5
3.8
3.3
3.2
3.2
3.1.
3.5
1.6
3.9
2.8
3-9
1..9
y
30.3
y
5*
Treasury Bulletin
MONETARY STATISTICS.
Table 6.- Seigniorage on Silver
(Cwnmlatlve from January 1, 1935
Ei^ ol calondAT
/•OP or month
-
in rallllona of dollaro}
March 19il
55
CAPITAL MOVEMENTS
Data relating to clE-lmo on foreigners and liabilities to foreigners,
and capital inoveraentc between the
United States and foreign oountriee, have been
collected
since 1935. pursuant to Executive Order 656O of January I5,
the data for January I95O.
Attention is called to the
fact that although the grand total figures on the revised
reporting basis are reasonably comparable with those for
preceding months, data for individual countries in some
1934,
and Treasury regulations thereunder.
Information
covering the principal types of data and the principal
countries Is reported each month by banks and bankers and
securities brokers and dealers in the United States. This
instances are not comparable because of certain changes in
coverage and geographical classification.
Information Is published regularly in the "Treasury
is presented in three tables appearing at different times.
Bulletin".
Table 1 gives data by countries on short-term claims on and
Supplementary information Is published at less
frequent intervals.
The supplementary information, contained in Section IV,
All reports are oade Initially to the
liabilities to foreigners as reported quarterly by exporters,
Federal Reserve Banks, which forward consolidated figures
importers, and Industrial and commercial concerns in the
United States. This information was published for the first
to the Treasury.
time in the October I949 issue of the "Treasury Bulletin"
citizens) domioiled outside the United States, as well as
and begins with data for September 30, 1914-6.
Table 2
supplies information by countries on long-term claims on
and liabilities to foreigners as reported by banks and
international organizations, **erever domiciled,
bankers In the United States.
The term "foreigners" as used in these reports covers
all institutions and individuals (including United
treaty or convention between sovereign states.
States
created by
"Short-tern"
refers to original maturities of one year or lees, and
first time in the December
This table appeared for the
19'l-9
issue.
Data are for the
basis of reporting,
end of the calendar year beginning with 1942. Table 3
gives information on short-term liabilities to countries
not regularly reported separately by banks and bankers.
and derivation of capital movements figures appeared In
This table appeared for the first time in the April I95O
the April 1950 issue of the "Treasury Bulletin", pages 50-52.
issue. The data have been requested at Irregular Intervals,
Revised report forms and regulations became effective with
the earliest date being October 19'^3.
"long-term" refers to all other maturities.
dlBCUsslon of the reporting coverage,
A detailed
Section I - Historical SuBunary
Table 1.- Net Capital Movenent between the United States and Foreign Countries
(In thouaandf of dollars; negative figures Indicate a net outflow of capital from the United States)
Analjrela of net capital moTenent In:
Calendar year or nonth
Net capital
movement
Short-term
banking funds
Brokerage
balances
Transactions
Treasury Bulletin
56
CAPITAL MOVEMENTS.
Section
I
-
Historical Summary
Table 2.- Short-Term Claims on and Liabilities to Foreignerf)
(PoeltlOD at end of period In thouaasdB of dollars)
Short-tazs liabilities to forelgnere
Sbort^tem clalna on fcTel^oere
Payable
In
foreign
curranciea
2od of calandjsr
year or aanth
Payable In dollars
Payable In dollare
Loana to
Deposits
forel^
of
banks
foreigners
191*2
21*6,673
30,9lfi
72,01*8
191*3
257,929
3'',387
5l*,603
86,378
11*3,709
137,161*
105,1*21
169,670
100,267
319,639
21*5,010
290,1*95
1*90,631
,205,389
3,523,328
5,371*, 903
li,13U,l*12
5,596,775
6,883,068
'',356,501
u, 91*6, 621*
l.,693,911
1*
5,116,971*
6,167,1*83
557,132
331
5,209,820
5,073,586
2,l'37,751
1*91*,
2,l'93,33l'
6,699,260
6,790,105
501*, 51*5
8,631,1*72
5,1*99,629
3,092,515
70,369
51,03?
39,328
5,122,1*00
2,553,086
5,131,066
2,567,881.
'•7,515
1*6,007
6,998,175
7, "71', 339
l*,859,7Wt
2,8Ui,7U2
52,278
7,105,Ol'0
2,815,082
2,866,233
2,831,639
5l*,679
7,286,980
906
7,l'23,96l
1,018,700
100,371
110,301*
1950 p
827,85!'
888,31*9
292,866
361,197
222,719
239,807
11*3,997
1950- Janiiflry . ,
February.
72U,a26
670,618
87,230
82,019
81*, 790
lilt, 1*71*
523,122
7,723,001
113,115
122,018
1*75,1*01*
7,7l'l',957
1*1*1,916
7,753,76U
81,071
86,385
121*
,298
113,331
128,372
U29,l*37
7,921,786
8,031,268
8,175,271
5,052,0:^5
3,232,01*0
6,1*80,262
March
61*8, 72U
April
May
Juzw
63U,8o6
607,307
657,250
107,17'*
July
Auguat. . .
September
667,101
683,796
71*5, 929r
116,597
126,822
208,768
120,1*91*
1*30,010
109,755
105,765
1*1*7,219
lt31,396r
8,211,833
8,369,397 J/
8,939,930r
October. .
November p
Dacenber p
836,670
267,688
237,719
239,807
119,187
U8,7l*2
1*1*9,795
1*92,113
50U,5l*5
1*07,591
1*21,701*
Beginning vitli August 1950, data include for the first tine certain
deposit balances and other aaeete which had been held In specific trust
accounts but vhlch had been previously excluded frani reported liabllitiee.
5,110,129
51*,
5,267,081
6,1*90,302
5,772,009
7,7''3,123
50,1*92
7,516,021
2,92U,227
5,217,899a/ 3,096,689 1/
5,U83,780r 3,l*Oi*,271r
55,566
5U,809
51,879
7,5'''',732
9,176,711
5,596,092
1*1*,
822
8,^,881*
5,1*87,269
5,''99,629
39,'*'*7
8,3l>0,0'il
e,oiiii,3io
39,328
7,7'.3,123
8,631,U72
p
r
5,293,11*0
3,535,797
3,366,168
3,092,515
Preliminary,
RerlQad.
Table 3.- Net Movement of Short-Term Banking Funds
(In thousanda of dollare; negative figures indicate a net outflov of capital froo the United States)
Calendar year
or month
3,958,716
1*9,66*1
065, 1*39
1/
13,893
17,911
1,71*5,722
91*8,936
11*3,997
668,168
1,222,580
1,218,633
1,910,898
2,257,510
98,119
191*7
191*8
888,31*9
ities
l*,809,2l*5
19''5
191*6
392,766
708,253
81*8,57'*
llabU-
forel^
currencies
7,ll6,Ul9
7,717,960
7,617,959
329,691*
191*9
Bet
short- ten
In
21,61*1
25,51*6
1*0,629
19''''
1*7,1*89
Payable
7,685,601 i/
8,19't,001r
..
,
March
,
,
mi
57
CAPITAL MOVEMENTS
Section
I
-
Historical Sunmary
Table 4.- Purchases and Sales of liOng-Term Domestic Securities by Foreigners
(In thousandQ of dollars; negatlTo flgxiros Indicate a net outflow of capital from the United States)
Dciaeetic stocks
Calendar jear
or month
Sales
Demos tic hondfi
Bet
purchases
Purchases
Sales
-Ull,365 1/
20,895
U92,''20 1/
138,51''
Total
purchaaea
Total
sales
Net
purchases
1j30,2U5 1/
96,3fl3
8Ul,6l0 1/
19'', 616
-1.2,977
171, ''32
-31., 579
Wt?
151,639
136,853
260,223
357,655
-97,1.32
396,768 1/
16U,218
2Ul,299
513,558
377,717
393,390
-15,673
ig'ii
367,6119
-6U,''6o
''1'',''70
631', 213
-269,7''3
igitT
226,089
369,736
''32,109
376,67l<
-150,585
3''!., 805
-l'''',323
-''7,892
375,303
661*, 016
-21,218
2,328
96, '121
652,151
78U,098
81.11,366
35'',085
666,3klt
282,1.15
1.30,013
1,333, 50i
283,275
330,307
333,592
61,530
51'', 059
''00,711
932,790
1,999, SI'S
1935- "il
19''2
Wl^S
19'''*
me
19'>9
1950 p
1950- January.
-95,652 1/
25,70''
170,555
70,7''''
268,21J.
2''5,3lU
9,322,066
260,601
392,938
650, UU
637, 9kO
8,695,335
211., 002
365,171
''39,676
751,0''5
27,767
210,735
-113,105
782,119
1,116,322
-33'',203
570,89'.
659,91.9
l,06l»,727
-89,055
-192,215
75,203
935,118
69,195
708,895
,632
'»1,729
52,386
2,2''6
20,751
17,667
3,08U
Fetjruary .
'•9,877
23,0'U'
5'', ''30
55,668
59,226
-8,1U8
-3,558
77,1.7''
March
110, U52
37,699
72,753
75,383
119,203
166,120
70,053
72,921
96,925
April
May
June
l»8,773
''9,095
-322
U5,''86
128,5l'3
57,706
'',992
26,183
83,379
93,889
3,771
30,165
75,055
119.0''6
6l,l'0lt
79,770
56,3U8
117,08s
3l.,281.
62,698
65,175
182,257
103.1.31
-265
-5,987
2,106
U7,836
26,301.
91.532
lSq.1.21
78,151.
166,366
17, 1.21.
1''8,9''2
215, OU6
52,265
51,850
5'', 667
50,159
63, '.20
'10, '.92
22,928
115,685
72,091
90,651
62,668
60,677
59,310
53,760
65,33''
3l»,929
30, ''05
F.7li,702
61,79''
39,601'
61,05''
235,098
122,912
128,002
335,379
61.,
3,358
6,917
-2,782
5''
.
July
August. ,.
September.
Octoher . ..
November p
Decenber p
1/
75, ''88
51,585
1.8,680
576
183,966
January '', 19'*0, through December 31, 19'.!; the breakdown between stocks
and bonds Is not available for earlier years.
1.2,027
p
Ret purchases
of dcmestlc
securities
21.5,760
9'.,239
93,36U
125,630
626,731
'.6,599
5,330
1.6,282
U5,l6'.
35,157
78,826
91,267
1U2,955
25,03'.
33,763
2U2,015
120,130
Preliminary.
Table 5.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Foreign stocks
Calendar year
or month
Foreign bonds
Ret
purchases
Net
purchases
Purchases
Total
purchases
3, ''87
22,078
'',523
311.,262
372,158
225,289
19l'5
23,278
26,601
37,328
n.a.
n.a.
10.6, 367
789
-17, ''61
318,113
31.7,269
n.a.
n.a.
71* ,209
88,973
-29,156
19^6
65,2'.7
65,610
-363
755,936
1.90,U1.6
265,^90
19''7
57,118
81,715
88,815
173,788
'.2,558
l'',560
658,7m
63l.,289
21., 1.52
96,7''''
-15,029
13,027
211,621
291,1.2'.
321,2'.3
311, '.70
-79,803
9,773
-17,31'3
589,082
709,776
-120,691.
17,133
131,972
12't,lt27
-107,291.
29,722
30,861'
101,108
l''5,958
63,932
38,832
58,731
92,527
1935-''l
n.a.
19'.2
191.3
WhU
19''8
19''9
1950 p
1950- January
February.
,.
March
April
May
June
n.a.
19,791
51.,
70,788
191,131
n.a.
n.a.
12,589
13,986
13,58U
11,''55
1,13'>
8,839
5,^7
13,29''
290
50,31.8
96,982
-1.6,63'.
13,639
18,225
12,283
16,771
.l.,586
25,193
29,886
2i,8e8
27,36a
-I., 693
22,60lt
-1,575
-53,576
-156,122
63,683
5,187
7,099
l'',299
15,651
2,016
-1,120
76,876
July
August
U,729
11, ''87
21.2
2?, 108
13,1''6
12,911
235
13,'rt>7
SeptenVier .
18,102
35,''36
-17,33''
31,060
23,683
66,983
187,182
October .
November p.
December p
17,670
15,»'7
18,111.
-lA''
16,328
-981
13,5''6
15,1.88
-1,91'2
123,816
25,201
27,536
60,128
20,01^
20,U37
.
Not available.
Frelijalnary.
''9,51't
Total
sales
Net purchases
of foreign
securities
',008,188
220,533
,152,61.0
227,897
355,5''3
-7,36'.
1'69,61'5
391,91.9
2''7,367
''02,058
-'.6,617
3''0,863
355,lwl
821,183
715,859
293,336
It 10,
058
76i,670
556,056
676,^7
388,168
382,258
900,907
77,696
93, '.96
265,127
39,012
-9'', 832
27,300
-138,037
135,882
39,703
110,276
-106,160
106,255
ue.ui
-9,279
Ill
u.,133
2'.
31.,
-''6,3U.
,620
U8,39l'
33,837
26,553
35,170
-1,333
79,89'.
149,162
222,618
-53,3''l
-173,1'56
ll.l,'.86
78,21.2
63,2U'.
Ul,0'.8
''1,082
36,8U2
35,925
5,157
Treasury Bulletin
58
CAPITAL MOVEMENTS
Section II - Summary by Countries
Table 1.- Net Movement of Capital and of Short-Term Banking Funds
..
:,.
.
59
March I9il
CAPITAL MOVEMENTS
Section
II - Sinnmary
by Countries
Table 2.- Net Movement In Brokerage Balances and Long-Term Security Transactions by Foreigners
States or net sales by foreigners)
(In thoueands of dollars; negative figures Indicate a net outflow of capital from the United
Moveiu»nt In
brokers^ balances
1950
Country
September
August
Europe:
Austria
Belgium
Czechoslovakia
ttenmark
Finland
-27
330
1
TZ
6
France
Germany
Greece
Italy
Netherlands ....
-721
-22
Korwaj
Poland
Portugal
Rumania
Spain
5
-2
31*
-76
-201
U
1
-2
5
797
-329
5
-2
lU
-55
kgk
-18
-192
-200
2
31
-2
16
107
-59
-2
12
-12
Sveden
Switzerland....
-158
-1,378
-23
U. S. S. R
Dtolted Kingdom.
-61*7
Yugoslavia
Other Europe .
.
-78
-185
2
115
105
1,902
-77
-358
-1
-217
Total Europe .
-2,736
-75
711*
.
-583
52U
1*03
llt2
279
lU
75
-122
C*tnwHa.
Latin Ansrica:
Argentina . .
Bolivia
Brazil
Chile
Colcmbla. . .
-5
5".
175
-205
-38
-185
Cuba
Dominican Bepubllc ,
Guatemala
Mexico
Netherlands West Indies
and Surinam,
Peru
Republic of
El Salvador.
Uruguay
Venezuela
Other Latin America...
Asia:
China and Manchuria...
Bong Kong
India
Indonesia
Iran
Israel
Japan
Philippines.
Thailand....
Turkey
Other Asia..
Total Asia.
3
3I.U
8
-53
-ko
39
1*7
638
8
l,'t32
995
-75
3,855
1,329
202
-123
-1
-6
15
-71
-3
-11
1,331
-39
-lU
193
Total other countries.
139
1
-2
International
p
T>rellmlnary.
3I18
-771
Other countries
Australia
Belgian Congo
Egypt and AngloEgyptian Sudan
Union of South Africa.
Other
Grand total.
-l,63lt
779
7
,
Total Latin Anerlca...
13
77
3
2,006
k
3
1U8
-8
-21*9
22U
109
-120
7
-11
-IU3
Treasury Bulletin
60
CAPITAL MOVEMENTS
Section II
-
Summary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Poeltlon at end of month In thousands of dollars)
Country
,
.
,
,
March 1951
CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 4.- Foreign Debit and Credit
Balances In Brokerage Accounts
(Poflltlon at end of month In thousands
of dollars)
Debit balances (due fron foreigners)
Counti7
1950
August
September
Evgopc:
U
Austria
Belgium
CiochoaloTakla.
Dsnaark
rinlAni
France
Gezmany
Groaca
Italj
Netherlai^o
,
It
236
1
195
i.a
9
581
393
370
1
5
1,308
26
1,271.
26
7
5
151
2U6
221.
183
211
318
Norway
Poland
Portueal
Rumania
Spain
558
1.99
611
lU
2
15
19
5
3
5
Svoden
Svitterland...!
U. S. S. B
United Kingdom,
Yugoslavia
Other Europe . , .
203
2lt6
117
Canada
, . .
Latin Aaierlca;
Argentina.
BollTla...
BralU....
ChUe
ColoBbla.
3,81.9
lt,0U8
l»,521
i.oitS
2,205
2,031
,
Total Europe.
.
Cuba
Dcmlnlcan Republic,
Guatemala
Mexico
Hetherlanda West Inllee
and Surln ""b
Peru
Republic of Panama. . ,
El Salvador
Uruguay
Venezuela
Other Latin AUBrlca...
S13
210
320
8,072
9,856
10,818
li,61il.
6,291.
5,621
8o8
lU
B69
399
1,409
It,
006
61*9
I*,
553
5
5
1,569
1,635
.5
28
139
827
115
531.
660
671
2C3
1,511
550
Total Latin America...
Asia:
ii,6au
12,369
China and Manchuria...
Hong Kong
India
Indonesia. ,.,,,,
Iran
1,33't
Israel
Japan
Philippines.
Thailand....
Turkey ......
Other Asia..
Total other countries.
..
178
968
2
121*
Total Asia..
International,
179
1
2
Other countries:
Australia
Belgian Congo
Egypt and AngloEgyptian Sudan
Union of South Afi-lca.
Other
1
6
136
6
1
50
1.1
1,696
1,81.1
26
12
lU
260
21.2
"295"
278
, ,.
Grand total
p
1,703
25
Preliminary.
26,331.
30,638
62
Treasury Bulletin
CAPITAL MOVEMENTS
Section III - Details for Month of October 1950
Table 1.- Short-Term Claims on Foreigners
(PoeltlGD at enl of ncnth In thouBonda of dollar*)
Countrsr
1/
BoglnnlTig vlth March 191.7,
inoludes balancea In aocounta opanad bj
OGOupatlon authorltlaa for forel^ trada purpoaaa.
March
63
l')il
CAPITAL MOVEMENTS
Section III - Details for Month of October 1050
Table 2.- Short-Term Liabilities to Foreigners
6k
Treasury Bulletin
CAPITAL MOVEMENTS
Section III
-
Details for Month of October 1950
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
.
t
..
,
,
..
March 1951
65
CAPITAL MOVEMENTS
Section III A - Preliminary Details for Month of
December 1950
Table 1.- fihort-Term Claims on Foreigners
(PoBltlon at end of month In thousnalB of dollars)
Short-tara clalje payabla In dollara
Total
Europe
Austria
151
B©l«Iiffli
21,lt6l.
Ciechoe lorakla
Denmark
Finland
Franoo
Goraany i/
Greece
IteO^
netberlande .
Forel^
Collections
outstanding
for ovn account
and dcoeatlc
custcmers
bonlca
and official
Instltutlona
151
20,781
11*6
3,175
2,217
787
172
31,379
30,627
25,306
1U8
26,838
153
,
20,537
19,91*0
11,1*33
2,978
856
1,370
1,1*61
10,71*6
Deposits of
reporting banlcs
and doBsstlc
custoHers vlth
forslgoars
Oth^r
31*6
5,276
m
13,61*1
21*
3,208
2,217
, . .
8hort-t«m clalns payable In foreign cumnclss
5
1,516
21*
25,li29
Norway
Poland
Portugal
Riaumla
Spain
Loans to:
Bhorttara
clalna
Cotntry
3,013
6,271
683
23
33
17
2,277
2,026
208
287
568
8,002
752
323
597
506
5U
91.
5
2,201
266
2,1*66
3,81*0
763
1,093
783
1*6
177
9
175
I46
U57
hxk
8
230
37
5
60
31*9
1,101
3
5
1,01*0
298
1*1*
650
U8
61
Sweden
6,865
8,6u
2,175
1,019
18U
Svltrerlai:^..,
U. S. S. R....
6.228
5,815
1,1*75
1,169
2,753
2,700
569
637
2,795
United KlngdoB
Yugoalavla...
Other Europe ,
101,507
11,536
2,21*0
l»,232
1,11*9
3,915
2
89,971
3,907
3,609
9I16
1.955
339
369
298
Total Europe..
232,037
135,1*11*
59,1*17
20,227
15,931*
39,836
96,623
123,801
51,51*0
1*21*
29,101*
5,762
16,250
72,2ol
'15,890
115,013
23,995
2,218
8,67s
73,651
6,857
8,672
73,513
6,831
'*,371
1,873
1*2,988
1*2,872
10,907
210
10,303
1,877
5,710
18,800
2,218
13,753
1,829
15,122
Cuba
Donlnlcan Republic
Guatemala
Mexico
Netherlands Weet Indies
and Surinam
28,125
1,851
2,551
69,993
26,1*72
1*31
2,1*66
9,270
5^
725
U2
12,937
1,622
7,010
1,310
1,21*8
Peru
Republic of Panaaa...,
El Salvador
7,758
Venezuela
Other Latin America...
'•9,331
ll»,6l9
10,821
3,126
6,768
7,963
U8,882
11*, 599
1,181
IftTiguay
10,977
3,136
6,815
7,995
,
U
2
C«n*da
Latin Anerlca:
Argentina.
Bolivia...
Brazil....
Chile
Colanhla
,
,
1,001*
1,81*1*
2,51*9
21,093
877
1*8,917
1,091*
1*38
1,61*1
18,139
3,289
1,026
579
10,001
798
2,330
19,623
9,823
352,307
102,979
50,517
11*9,797
18,21't
18,210
17,892
2,998
2,981*
5,201*
223
153
2,556
91
1,161
2,287
137
5,902
Total Latin Aiwrlca...
3
1,21*2
6U
196
89
5,013
1,1*98
1*9,011*
ABla:
China and Manchuria, .
Hong Kong
India
Indonesia
Iran
lerael
Japan
16,161.
1,61*5
231
231
6,61(8
6,61*3
gk
737
19,'»63
19,'t55
3,71*0
12,080
12,080
l.,866
'',386
Thailand
Turkey
Other Asia
1,1*97
1,1*97
910
13,87U
905
11,193
9,900
329
917
16
9,236
Total Aflia
96,91*5
82,793
1*0,833
U,l»07
7,670
l*,l*05
Flilllpplnee.
. .
Other couptrlee:
Australia
Belgian Congo
Egypt and AngloEgyptian Sudan
Union of South Africa..
Other
Total other countrlea ,
International
Grand total.
1/
.
8,921
6
30
65
922
1*
25
361
5,872
2,171*
l*,027
328
515
705
1,626
'*7,062
9,919
19,51*7
6,265
565
30
1,970
311
5,105
la
It,
289
8,059
7,167
250
7,727
5,8U3
6,1*36
60,755
26,1*88
'*3
9h
2,3'*g
1
13
59
205
1,590
3,509
281
526
8,793
103
11,585
6,007
109,870
202,625
117,372
1
,,»
Beginning vlth March 191*7, Inoludoa halancee In accounts opened
by
occupation authorities for foreign trade purposes.
91
1*3
66
Treasury Bulletin
CAPITAL MOVEMENTS
Section III A
Preliminary Details for Month of December 1950
Table 2.- Short-Term Liabilities to Foreigners
-
(Poeltlan at and of aonth In thouflofida of dollars)
Cotmtrj
l/
Beginning with March 191*7, Incliidea balancoe In accounte opened by
occupation authoritlee for forol^ trade purpose e
March Wil
67
CAPITAL MOVEMENTS
Section III A - Prellnlnary Details for Month of December 1950
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
m
Ireasury Ballet.
68
CUMULATIVE TABLE OF CONTENTS.
iprll 1090 throngfa March 1051
.
March \95\
69
CUMULATIVE TABLE OF CONTENTS.
April 1050 through March 1051
-
(Continued)
Iseua and pe^e number
1951
1950
Apr.
Majr
Juna
Jul;
Aug.
Sept.
Oct.
Not
United States savings bonds:
26
26
27
29
30
26
26
27
29
26
26
27
29
31
31
30
30
30
30
33
33
32
31
31
3U
32
33
31
32
31
32
3l<
i^
33
33
36
38
37
39
57
39
Uo
U2
1*2
Uo
Ul
Uo
Ul
U3
UU
•3
1(2
U2
ItU
''3
U3
UU
U5
U6
U7
1.7
U6
''7
1.7
U8
U8
"•7
U6
U7
U7
U8
1.9
US
U8
U8
UQ
50
US
U9
U8
26
26
27
29
Suimoary of cunulatlve sales and redemptions by series
Sales and redemptions, all series combined, by periods
Sales and redemptions of Series A-D, E, F, and G by periods....
Redemptions of matured and unmatured, all series ccmbinsd
Sales and redemptions of Series E and F and G by denoiLlnatlono
Sales of Series £ and F and G by States
26
26
27
29
2t.
26
27
29
30
31
Treasury eavinga notes:
Summary of cumulative sales and redemptions by series
Sales and redemptions of Series C and D combined by periods.
Ownership of Federal securities:
Distribution by claases of Investors and types of issues
Net market purchases or sales for investment accounts handled by
the Treasury
Estimated ownership by bank and nonbank investors
31
31
31
31
3I'
31
31
35
Treasury survey of ownership:
Ownership by banks, insurance canpanles, and others
Ownership by ccamaorcial banks classified by memberehlp in
Federal Reserve System (latest date December 31, 1950).,
33
33
33
33
36
33
Market quotations:
37
39
Over-the-counter closing iiuotatlone on Federal eecurltles by issues
Chart shoving yields of Treasury securities
uo
Yields of Treasury and corporate bonds:
Ul
Average yields of long-term bonds by periods....
Chart showing average yields of long-term bonds.
l'5
Internal revenue collections:
Summary by principal sources
Chart showing internal revenue collections.
Detail of collections by type of tax
•5
Monetary statistics:
Money In c Irculatlon
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary stock
Silver production in the United States and acquisitions by mints
•...•
and aasay offices
Seigniorage on silver
(latest date
dollar
weight
of
gold
Increment from reduction In
December 31, 1950)
Net Treasury gold receipts (latest quarter ending December 31, 1950)
U6
1>7
U9
U9
U9
50
50
51
51
52
52
50
1.9
U9
U9
53
Exchange Stabilization Fund:
Balance Sheet (lotest date September 30, 1950).
Incon© and expense (latest date September 30, 1950).
51
52
53
5U
Capital movements between the United States and foreign
countries:
Hlatorlcal gunmary of capital movements since 1935
Summary by countries axA months
Details for latest montJis by countries
Supplementary data by countries
Corporations and certain other buBlnesB-type activities
(latest date June 30, 1950):
Loans outstanding
Balance sheets
Income and expense
Source and application of funds
53
56
60
50
53
57
63
66
67
6U
67
50
53
57
55
58
62
i
9
m
\
@FedFRASER