Full text of Treasury Bulletin : May 1956
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LIBRARY
ROOM 5030
JUN
2 3 1972
TREASURY DEPARTMENT
TREASURY DEPARTMENT
FISCAL SERVICE. BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON 25. PC.
OFFICIAL BUSINESS
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
WEASUMY.
MmiLEFm
MRV-iaSE
UNITED STRTES TRERSURV DEPRRTMENT
OFFICE DF THE
SECRETBRV
May
195b
Table of Contents
Page
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
TruBt account and other transactions
5
Cash income and outgo
13
Debt outptandlng and Treasurer's account
19
Statutory debt limitation
23
Debt operations
2^-
United States savln^-s bonds
3^
Treasury savings notes
37
Ownership of Federal securities
3^
Treasury survey of ownership of Federal securities.
^0
Market quotations on Treasury securities
kk
Average yields of long-term bends
4-7
Internal revenue collections
^9
Monetary statistics
52
Exchange Stabilization Fund
56
Capital movements
5^
Corporations and certain other business-type
activities - income and expense, and source and
application of funds
6S
Cumulative table of contents
35
Note:
Where calculations have been made from unrounded
figjures, the details may not check to the totals
shown.
The Treasury Bulletin l3 for sale by the
Superintendent of Documents,
U. 3. Government Prlntine Office, Washington 25, D. C.
Subscription per year S'l.25 domestic, $5*25 foreign.
Single copy price varies.
May 1956
A-l
Treasury Financing Operations
Call before Matxirlty
On May l4, I956, the Treasury Department Issued notice that the
2-3/**^
percent Treasury bonds of I956-59, dated September I5, I936,
due September I5,
1959,
are called for redemption on September I5,
1956, when Interest on these bonds will cease.
There are $9^2 mil-
lion of the issue outstanding.
The announcement stated that holders may,
in advance of
the
redemption date, be offered the privilege of exchanging all or any
part of their called bonds for other interest-bearing obligations
of the United States,
in which event public notice will be given.
91-Day Bills Refunded
Four issues of weekly Treasury bills matured in April in the
total of
J6.it-
billion.
They were refunded in full by new 91-day
issues in the amounts of ^1.6 billion each, the approximate equivalents
of those maturing.
The average rates of disccunt on the
new
Issues
were 2.397 percent for April 5; 2.h^1 percent for April 12; 2.769
percent for April 19; and 2.7gg percent for April 26.
Note:
Details of Treasury market financing operations are shown elsewhere In
this Issue of the "Treasury Bulletin," In the tables on "Offerings" and
"Disposition," respectively, of marketable Issues of bonds, notes, and
certificates of Indebtedness, and In the table "Offerings
Bills."
of
Treasury
May
Mb
SUMMARY OF FEDERAL FISCAL OPKRATIONS
alUlona of dollars)
(In
Budget recelpte and exp»iiiitur«e
Net
r«c«lpta
1/
Expenditures
2/
Surplus,
or
deficit
(-) 2/
Ret of
trust
account
and other
transactions
Ret
Increase
Clearing
accoxmt,
etc.
it/
2/2/
Ret
Increase In
Treaaurer's
public
accoxmt
debt, or
decrease balance, or
decrease (-)
Levels, end of period
m
(-)
Debt outstandiog
li^asurer'a
account
Public
balanc?
debt
Guaranteed
securities
Total
Federal
securities
Subject to
limitation
5/
Fiscal years;
U.,1.75
93,1.16
-53,91.1
791
57,679
l.,529
,
21*
1*33
-20,676
-521*
10,71.0
-10,1.60
11.
,698
,238
258,682
6o,l.Ji8
269,1.22
1.76
39,032
75I.
,
39,771
39,7e6
-1,103
555
-11,136
-10,930
3,306
258,286
90
13118
1.1,1.88
3,1.19
-29I1
l*,932
-l,8u.
-3,122
3,510
-'•95
61,391
252,292
252,770
257,357
255,222
259,105
73
37,696
-507
366
-5,991*
19'*9
33,069
39,507
39,617
W.,058
65,U08
611,825
711,271.
61*, 655
191*5
191*6
191*7
1950
1951
1952
,
,
1953 6/
36,1*95
1*7,568
266,123
271,31*1
265,522
270,790
273,915
II17
JiOl
-2,135
3,883
1,839
-388
5,517
7,357
6,969
-9,1*1*9
1*35
-3,117
J., 180
328
231
-250
-303
6,966
5,189
3,115
-2,299
2,096
-551
U,670
6,766
6,216
266,071
271,260
27U,37l.
81
Uh
1/
6,000
2/
273,800
eh
60,390
1956 (Est.)...,
1957 (Est.)...
67,700
66,300
65,872
65,865
1,8
1*3,678
-1*3,591*
-323
l.7,l*8U
3,767
-2,512
2,U3U
-1,386
-350
362
-18,966
-22,502
-2ll0
-2,21*9
-1*05
5,2Ul
-3,592
-229
-502
199
J*, 100
1,111
231.
1*,331
1.71
-1*22
87
-106
-1*23
-3,358
311
815
2,711
-5,8li2
-1.1
-319
7,973
Calfind ax
52
1*,587
-21li
1.35
1/
1*1
2a
2/
23
1/1
1/
-500
257,1*91
1.6
99
679
2,0ll7
1955
,
268,671
266,932
251,51*2
1*78
1*83
67,772
6U,570
195"*
269,898
258,376
252,366
252,798
257,377
255,251
259,151
1,621.
-1,1.62
3,1*70
259, U5
27
20
29
1/
271. ,1.18
1/
252,026
256,652
25l*,567
258,507
2/
273,881.
years
191*7
1.0,389
87,271
in,o8o
37,955
19l'8
191*5
191*6
38,568
UO,86l*
35,623
191*9
37,511*
1.1,106
1950
1951
1952
37,305
52,979
37,728
56,337
70,682
,
6h,S)<0
26,003
3,502
3,097
U,2CS
278,115
259,11*9
256,900
567
339
81
278,682 B/
259,1*87"
289,559
256,981
256,127
258,551*
252,851*
252,057
30
2U
257,160
256,731
256,1*13
-1.1.7
252,800
257,130
256,708
55
l.,679
l.,232
62
1,T70
l.,295
259,1*19
1.2
259,1*61
258,791*
6,061.
267,391
51*
267,1*J*5
266,821
256,026
63,81.1
72,997
275,21*1*
2711,671
31*
278,781.
278,256
I., 51*5
275,168
278,750
280,769
76
603
-635
5,180
376
7,777
3,582
2,019
1*,577
66,329
101
739
-259
-1,1.88
61.,85l.
-9,157
-3,683
-e,77i
-209
61,171
63,358
53
260,822
280,31*6
2,827
3,911
-2,000
-2,820
-68
-169
-97
-222
-276
-2,51.2
k,2Zk
270,981*
270,1*66
3,971
271. ,982
27l*,l*li7
21
-11*5
5,1*57
5,11*5
271*, 955
-321
1,233
-313
21
27
29
271,005
30I.
1*,951
I., 827
6,731
5,019
27l.,838
27l*,305
2,639
l*,857
-3U
lOl.
3,91*2
1,518
6,663
3.81.2
-209
101
61.1
7,301*
31*
278,786
278,888
6,288
-2,51*6
391
100
1.25
-103
-2,121.
5,180
278,752
278,653
278,750
31*
1*,201
3,71*2
-2,216
358
31*
278,781.
278,255
278,357
278,256
1955-<ranuai7..,
Pebruftiy,
1*,655
5,1*27
l.,9l.2
-287
596
-186
-311
-257
-1.51
lt,728
278,1*39
21.
278,1.63
277,91.9
351.
3,81.6
36
-11,131*
5,'*U
5,151
27
9,71*1
682
-260
278,182
tiarch
332
-11
-7
27l.,0l.8
33
278,209
271., 080
277,697
273,571
5,228
5,356
6,753
-1,1.96
-16U
309
2,601
1,250
6,1.01
-1.3
-38I.
821*
276,686
277,515
131
-3,098
5,880
6,216
1*3
-69
-522
336
276,61.9
277,1*72
37
-919
3,372
271* ,371*
hk
271., 1.18
276,179
277,010
273,915
5,382
6,225
-2,617
-2311
237
1*2
158
-!*0
-833
5,753
5,376
278,309
5,31*0
277,1*76
1*8
277,521.
277,01*5
5,355
5,172
5,651
1*73
2,31*1
-62
5,311*
-36
-195
5,UL9
-571*
l*,5l*5
53
53
5,271*
-590
-1,293
3,252
280,01.9
53
6,195
U,950
5,399
1,21*5
127
73
1,501*
l*,756
280,108
5,911*
-33
198
-3,761.
2,316
7,07a
276,31*5
58
59
279,866
280,189
280,822
280,102
280,167
279,388
279,713
11,681.
319
632
-720
60
279,818
280,136
280,769
1.8
l.,889
-2,663
-510
-761
-217
337
-213
33
-1
-162
277,626
278,352
277,11*3
-1,1*91
1*3
5,1*98
595
-1,058
-378
277,581*
-71*
3,210
725
6,811
U,73l*
1953
1951*
6/
1955
Hmths!
-31*
6/
19511 -July
August , . ,
September.
October. .
November,
December.
April....,
3,732
May
June •....,
1*,1*38
,
10,125
July
August...,
September,
2,765
October. .,
November,
December.,
1956 -January..,
2,69a
,
Febn»ry
March
l.,662
U,31?
1*,831
5,891*
-l*W.
179
Source: Actual figures are from the old dally Troaaury statement through the
fiscal year 1952 and the calendar year 1953; actual figures on the nev reporting basis (see footnote 6) are frciB the new dally Troaeuiy statement
and the "Monthly Statement of Receipts wnH Expenditures of the United
States Covemment"; 1957 estimates are based on the 1957 Biiiget document,
5/
released Januaiy 16, I956, Including effects of proposed legislation;
1956 estimates are as revised in the release of May 17, 1956. More detailed Information with respect to the figures on this page Is given in
succeeding tables.
1/ Gross receipts less transfers of tax receipts to the Federal Old-Age BDd
Survivors Insurance Trust Find and the Railroad Retirement Account, ani
refunds of receipts.
2/ Transactions of the Foreign Bccncmlc Cooperation Trust Fund, established
\inder Section 111* (f) of the Eccncmlc Cooperation Act of 1948 (62 Stat.
150), are consolidated with budget expenditures.
Beginning with the fis6/
cal year 1951, net Investment by wholly owned Government enterprises In
public debt eecurltles Is excluded from budget expenditures, and Is Included with other such Inveetanent under "Trust account end other trsnaactlons,"
i/ Conaists of transactions of trust and deposit funds, Inveelanent by
Government agencies In public debt securities, and redemption or sale of
obllgatlcns of Government agencies In the market; excess of recelpte, or
expenditures (-). For detail of content, see psge 5,
1/
k/ For checks outstanding, telegraphic reports from Federal Reserve Banks,
8/
public debt interest secured and unpaid beginning with June and the flsn.ft.
2711,810
276,1.01.
277,872
280,31.8
279,630
279,696
275,935
cal year 1955 (prevlouelj included frcci November 19^9 as Interest checks
and coupons outstanding), and deposits In transit and cosh held outside
the Treaflitry beginning with the fiscal year I95U; net Increase or decrease (-).
For current month detail, see sectlcn on "Statutoiy Debt Unitatlon" In
each iaeL» of the BuLLetiii, The limitatlctna In effect during the period
covered by this table and the date when each became effective are as
follcws: June 9, 19^+^, $260 billior- April 3, I9U5, $300 billion;
June 26, I9I+6, $275 billion; and August 28, 1954, $28l billion (temporai7 increase ending on June ^0, 195^). Guai-anteed securltlee are included under the limitation beginning April 3> 19^5. Savings bonds are
included at current redemption value beginning Jime 26, 1946; prior to
that time they were included at maturity value. In the debt outstanding, savings bonds are carried at current redemption value,
Nev reporting basis as announced Februfi-ry 17, 195^ (see April 195^
"Treasury Bulletin," page A-2), beginning v<th the fiscal year 1953 and
the calendar year 195^^. The n^v dally Treasury statemen-t: shows cash
depoelto and withdrawals in the account of the Treasurer of the United
States, The monthly statement includes agency transactions not cleared
throxigh the Treasurer's account, and shove receipts when they are received by collecting officers and expenditures vhen checks are issued
or payments are made by disbursing officera.
Ho eetljBate was made for these Items in the release of May 17, 1956.
iBinedlate postwar debt peak of $279, 76U mlllictti was on February 28, 19J*6.
Not available.
Treasury Bu}letiii
-BUIXJET RECEIPTS
AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In mllllona of dollara)
Internal revenue l/
Income and profits taiea
Flacel year
or month
Corporation
2/
19i»8.
Individual
Not
vlthheld
2/ j/
1/
29,1*82
21i,2l8
28,263
37,753
32,826
18, =.21
51,31*7
21,351
21,635
511
10,7117
10,396
21,251*
33,012
21,523
18,265
10/
20,300
October. .
November,.
December,
For railroad retirement
5/
y
1,616
1,690
2,106
3,120
3,569
For unemployment
Insurance
6/
208
223
226
557
56I1
Total
employment x/
Excise
taxea
2/
Estate
anl gift
taxes 2/
2,381
8,301
2,1*77
8,31.8
8,303
231*
2,883
3,931
259
i.,562
9,726
620
603
600
277
285
280
6,220
10/
660
10/
290
15
85
60
2
16
550
578
735
Taxea not
otherwise
classified
2/
9,1*23
8/
1953.
3epteml)or,
For
old-age
Insurance
1/
31,171
10,073
13,535
1950.
1951.
1Q52.
1956 (Est.)...,
1957 (Est.)....
1955- JuU
August,.,,
income
and
profits
11,1*36
9,81*2
191(0.
1955.
Total
Wj thheld
19,735
WiOlll
18,189
New reportljig basis:
finployment taiea
10/
10/
10/
23,1*00
55,1*18
5I17
277
881.
1,708
328
1,100
U5
3,001.
5,l*l'7
1,685
l,6cA
I*,
178
9h
350
1,01U
3,037
1,768
1,581*
293
l,Ui»9
1956 -January...
February.
March
8,109
2,152
795
769
1956 to date...
13,102
6,U15
l(2ll
lt6o
M/
5,31*0
I
U,718
392
1*,086
l»,537
,363
53,906
9,915
389
3,1*25
3,567
10/
6,635
198
912
519
268
692
339
10,825
10,01U
9,211
91*5
936
12/
7,585
216
1,012
579
10/
9,887
796
867
881
821
921
766
68
799
81.6
78
97
10/
1,120
79
77
66
17
85
21.1
512
51.
6
572
826
136
l*,2lt8
1.71.
317
5,039
7,523
779
61.6
I*
85
55
163
37,391*
5,1*25
290
791
395
212
972
3,515
939
3,73? 11/ U,987
10,772
1,893
17,876
1
18
l.,983
UJ
11*
1
32
9 2/
7
mf
5
2
1
*
1
-1
2U
-2U
1
Deductions frcm budget receipts
HiscelFiscal year
or month
lazteouB
receipts
To%al
budget
receipts
Transfers of tax
receipts to FOASI
Trust Fund
ii/
191*8
1*22
3,821.
1.6,099
191*9
3SI*
2,082
1.2,771.
1950
1951
1952
1*23
1,1*39
1*1,311
621*
1,639
551
1,811.
53,369
67,999
1,616
1,690
2,106
3,120
3,569
613
562
606
1,865
,
2,311 2/
2,559
72,61.9
U,o86
r-,173
69,1*51*
1*,537
5,01*0
12/
700
2,800
10/
77,515
New reportlr^ basis:
1953
1951*
1955
1956 (.EBt.)
1957 (Est.).,..
1955-July
August., .,
September,
October. ..
November,
December,
1956 -January , .
Fetruary
March
.
195t,
to date.
Railroad
Retirement
Account 11*/
Refunds of recelptt 15/
Total
refunds
Internal
reTonuB
2,250
2,817
2,135
2,082
2,275
19
17
16
15
18
2
550
550
575
738
9
9
2,272
2,838
2, 160
2,107
2,302
620
603
599
3,095
3,31*5
3,1*00
17
20
22
6
11
3,118
3,377
1.
3,1*26
723
3
8
6/
lb/
10/
6,635
198
W/
6S0
51*
231.
3,08g
55
57
390
208
6,180
62
65
56
173
21.0
59
57
275
198
1*,915
7,158
61*6
59
133
12,1*99
512
51.
525
2,290
53,553
21*8
1.7I.
!*U0
5,81.8
2,998
5,527
5,337
I.,
912
519
15
85
60
268
18
692
339
85
55
a/
Source: Actual figures through 1952 are rraii the old dally Treasury etatament; actual figures on the new reporting basis are from the "Monthly
Statement of Receipts and Erpendltures of the Tilted States Government";
1957 estimates are based on the 1957 Budget document, released January 16,
1956, including effects of proposed legislation; I956 eetljnated total is
from the revised estimates released Hay 17, 1956.
i/ For further detail, see tables under "Internal Revenue Collections."
2/ BreaMovn was not made in the dally Treasury statement and the monthly
statement for years prior to I95I*.
i/ Beginning January 1951, the distribution of receipts between individual
income taxea aM oli-age insurance taxea is made in accordance with
provisions of Sec. I09 (a)(2) of the Social Security Act Amendments of
17
85
10/
3,892
109
116
100
10/
22
Jfi/
5
10/
3,920
2
2
1
uo
U8
2
103
19
85
51
2
•
3
1
21
89
1
1
51*
1*9
2
1
229
618
2
1
2
1
51
231
6ao
1,37'.
18
3
1,399
1950, for transfer to the Federal Old-Ago and Survivors Insia-ance
Trxuat Fund (see footnote 13).
U/ TaxeB on employers and employees under the Federal Insurance
Contributiona Act, as amereied (26 U.S.C. lU00-lU32) and, beginnlns
vith the taxable year 1951, tax on aelf-employed Individuals under
the Self-Efciploj-nent Contributiona /'rt (20 U.S.C, 1*80-1*82).
Taxes on carriers end their employees under the F.aiLroad Ketireraont
Tax Act (26 U.S.C. I5OO-I53S).
6/ Tax on omployors of 8 or nore under the Federal IMamployment Tax Act,
as amended (26 U.S.C. I600-161I).
Remaining footnotes on page U,
^
May
1956
.BUDGET RECEIPTS AND EXPENDITURES.
Table 2.- Expenditures by Major Functions
(In nlUlona of dollara)
I9I18
19'»9
1950
1951
1952
,
New reporting baals:
Intematlcnal
Major
national
security
Flocal year or mcnth
33,069
39,507
39,617
Wi,058
65,Uo8
affaire and
finance
U,771
'',566
6,651.
12,907
13,009
22, Wi
6,053
6,726
".,671.
6,61.6
3,736
2,826
l<6,901i
1(0,626
2,108
It,
1*3,976
50,363
195J>
67,772
6U,570
1955
1956 (Est.)
1957 (Est.)
,
,
...,
Septemtier
October
NoTember
December
••...
••.,
1956-Januaj-y
February
65,872
65,865 i/
5,582
6,225
5,3M)
1956 to date
Fiscal year or month
3,01.6
2,216
1,732
'.,298
'.,256
2,1.26
2,1.85
2,936
2,557
".,1.57
2,552
U,l.ll
2/
2,995
3,361.
1,031
79
106
120
1,01.5
1,11.3
1,261.
!t/
2/
879
29I.
336
223
191
919
295
283
185
171
362
323
539
103
3I.0
83
211.
3,767
353
359
1.23
12U
UOb
5,27''
3,005
2U5
950
5,399
3,211.
lltS
UOl
398
3,281i
167
1.00
297
181
168
It8,7't9
29,1.97
1,197
3,529
1,995
On public
debt 2/
2,612
909
1,622
1956 (Eat.)
1957 (Eat.)
2/
2,071
On refunds
of receipts
57
87
5,711.
5,931'
5,188
5,352
5,720
5,615
5,853
1,1.71.
6,583
6,501.
1,239
1,201
6,1.70
6,1.38
6,382
6,370
75
83
62
1,757
7,06?
2/
7,000
60
365
117
111
596
525
533
592
522
529
109
122
116
5l.e
5te
51.6
51.2
5
6
598
595
3
631
556
566
625
6
1,1.61.
5,21.8
5,1A5
5,817
2/
1.28
3, '•51
goTem»ent
2/
361
151.
General
1,220
1,081
55
95
59
152
Canoe rce
and
housing
1,361.
U5
90
1.38
On uninvested
trust funds
863
AdJuBtauent to
dally Treasury
statement basis
-388
a 72
+31.1
93
93
76
6/
-705
-657
1/
1953
,
251
229
165
2/
October
November
December
11.5
1956-JanuBry
February
March
168
51
101.
181.
106
1956 to date
638
908
1,065
2,181
5,3"^
3,293
3,109
1955
,
August
September
Natural
resources
l.,863
5,355
5,172
5,651
1,276
1,076
1,186
1,330
,
1950
1951
1952
1955^uly
welfare
/^rlculture
and
agricultural
resources
575
2,512
2,783
650
3,583
3,512
1,U06
a,ow.
2,133
2,336
2,722
191.8
I9I.9
1951.
and
1,322
1,563
1,963
2,065
2,168
2/
''0,370
I.,
Mtat>a
New reporting baals:
Lat)or
1/
1953
1957-Julj
August
Veterana'
serrlcea and
beneflte
192
156
1,539
uo
1,261
Source:
Fiscal year figures by functions and 1957 eetijaated total are
from the 1957 Budget document, released January l6, 195^, Including
effects of proposed legislation; 195^ estimated total Is from the
revised eetlmates released May 17, 195^; totals of actual expendltures for years prior to 1953 are from the old dally Treasury
statement; beginning vlth 1953, they are frcm the Trea8ui7*8
"Monthly Statement of Peceipts and Expenditures of the United States
GoTemment." Figures by manths are baaed on the monthly statement.
Transactions by public enterprise funds are included on a net
expenditure basis throughout. Net investanent In Uiilted States
securities le Included In expenditures by functlans through 19^9 and
In the total through I95O.
5,102
l/
2/
^
hj
'2J
6/
£/
3
1.
553
3
559
6
5,059
r
1.
38
As aimoxcced February 17, 195**; see page 1, footnote 6.
Detailed eGtlm&tes vere not made In the releaae of May 17, 1956, on
the basis of classifications In this table.
Total Includes reaerre for contlngeoclss flattountlng to $225 million
in 1957.
Beginning Julj 1955 figures by montha Include undistributed foreign
transactions by Air Force and Army.
Effective June 30, 1955, interest on the public debt le reported on
an accrual basis.
Differs from figure In Budget document because total inclules net
investment In Uhltod States Becurlties by wholly owned Government
enteiTirlses (see source note).
Treasury BuUetin
-BUDGET RECEIPTS AND EXPENDITURES.
Table 3.- Expenditures for Major National Security
(In ffliUlanf of dollars J
Fiscal Tear or month
•
May 19%
-TRUST ACCOUHT AND OTHER TRANSACTIONS-
Table 1.- Summary of Trust Account and Other Transactions
(In mlUlona of dollare)
Ret receipts, or
ezpendltureB (-),
from truet account
and other traneactlons
Flecal year
or Bonth
19^8
wijg
1950
1951
1952
Hew reporting basis:
Truat and deposit fund accoiinta
Net sole, or Investafnt
( by Government
)
agencies In public debt
eecurltiee l/
,
Ret receipts, or
expenditures (-)
Expenditures
1/
Beeelpta
2,658
1,890
6,515 2/
-J.95
99
679
1^7
-281
3,852
3,855
6,669
7,796
8,807
U35
328
231
3,760
2,386
992
-3,060
3,857
3,82U 2/
6,950
3,945
It, 952
5,71't
net eale, or redemption
(-), of aecuntlee of
GOTemnent agencies In the
aarket 1/
107
-2,3U
-71.
-3,557
-3,636
381.
-22
-72
i/
1953
199*
1955
1956 (Eat.)
1957 (Est.)
-338
1955-Julj
August ......•...•.•.
September
-23'*
Ul
1956-Jan\iary
February
March
5,169
6,769
-3,301
8,5l»5ii/
-1,362
-25
-2,05"t
-1.
y 5/
6oe
2,059
1,691
9,561
10,200
-2,607
-1,891
-7
775
7'»5
752
727
-25U
27
-99't
1
-16
1,502
721
33
-213
-39U
505
33
l»7U
l,llt2
-1
178
81.1
-162
127
-533
139
371
1,009
757
-33
Source; Actual figures through 1952 are from the old dally Treasury statement; actual figures on the new reporting basla are from the "Monthly
Statement of Receipts and Erpendltures of the United States Govemment";
estimates are based on the 1957 Budget document, released January I6,
1956, Including effects of proposed legislation; revised estimates for
1956 released May 17, 1956, did not Include estimates for trust account
and other transactions?*
1/ Prior to 1951 net Investment In public debt securities by certain truat
accounts and by deposit fund accounts Is included in truet and deposit
fund account expenditures and excluded frcm net Inveetaient by Govemmant
agencies (see Tables 3 and U); for treatment of security transactions of
GoTexTuaent-eponsored enterprises beginning 1955, see footnote 1*.
2/
\/
U/
^
y
211
zkz
11,620
11,890
-217
337
October
November
December
8,929
9,155
9,536
y
688
319
900
668
663
236
-378
-55
-II46
-33
90lt
373
-2
870
761
-lliO
128
-69
1.0
-61.
Excludes Foreign Economic Cooperation Trust Fund (see page 1).
As announced February 17, 1951*; see page 1, footnote 6.
Uhder a revised classification in the monthly statement, effective
July 1, 1955, the security transactions of Government-sponsored
enterprises are included in deposit fund account expenditures (net)
and excluded frcsa net inveslanent by Government agencies In public
debt securities (see Table 1+) and from net redemption or eale of
obligations of Government agencies in the market (see Table 5).
Figures previously published for the fiscal year 1955 have been
revised to the new classification basis.
Guaranteed securities included beginning 1955 (aee Table U).
Table 2.- Trust Account Receipts
(In milllona of dollars)
Federal OW-Age
and Survivors
Insurance Trust
Fund
Fiscal year
or month
y
Ballroad
PetlremeDt
Account
191.8
I9I.9
6,515
5,711.
1,921.
797
625
1950
1951
1952
6,669
7,796
8,807
2,367
6I.5
3,1*11
678
850
New reporting basis:
3,932
Hatlcoal Service
Life Inaurance
Fund
Government
Life
Inauraooe
Fund
Government
employees
retirement
funds 1/
Other truat
funds and
accounts
2/
1,171.
680
809
850
1.03
1,61.3
90
92
87
86
87
591.
690
,076
68U
786
912
597
1,313
1,173
1,281
1,5*2
71.0
y
529
51.5
y
8,929
9,155
9,536
1953
I95I.
1955
1956 (Est.)
1957 (at.)
1955-July
At^ust
September.
October
November. ..........
December
1956-Januai7
February
March
1,807
Uoamploymant
Trust Tund
U,620
11,890
7I.5
1,502
721
505
1,11.2
81.1
371
1,009
757
I.,516
71.2
737
700
1,591.
1,1.92
1,1.25
637
6l9
590
79
78
78
961
691
706
1«31
5,080
5,586
7,097
7,336
730
770
1,609
1,610
6U5
602
76
73
1,007
1,067
1.57
225
925
16
85
II.O
3
3oe
3
276
56
53'»
60
12
33
93
36
2
1.3
306
709
18
56
35
85
55
221
108
31.
50
3".
2
2
2
1.8
52
18
86
55
1.2
1.0
3
51.
2fi
157
17
38
37
3
33
2
61
26
50
51.1
187
665
531.
Source: See Table 1,
1/ Conalsts of Civil Service and Foreign Service retlroment funda.
2/ Includes Adjusted Service Certificate Fund, District of Colimbla,
Indian tribal fmds. Increment reaultli^ fran reduction in the weight
of the gold dollar, and through 1950 seigniorage on silver under the
Silver Purchase Act of I93I.. Thereafter any such seigniorage is
Included with other seigniorage under budget receipts. Beginning
1.57
1.1.9
1.32
52
38
33
39
1.1
with the fiscal year I95I., the Railroad Unemployment Liaurance Administration Pm^ is classified aa a trust accoait, instead of being
handled through budget accounts as formerly (see "Budget Receipts and
Erperailtures," Table 1, footnote 12).
Excludes Foreign Bconcoiic Cooperation Trust Fund (see page 1).
As announced February 17, I95I.; aee page 1, footnote 6.
Treasurij Bulletin
-TBUST ACCOUHT AHD OTHKR TRANSACTIOHS.
Table 3.- Trust and Deposit Fund Account Expenditures
(In nllllona of doLlArs; negatiTe figures are ezoeae of credits]
-
May
'
1951)
-TRUST ACCOUNT AND OTHER TRANSACTIONS
Table 4«- Net Investment by Governinent Agencies In Public Debt Securities
(In nLlXllona of dollara; Degatlve figuree are azceaa of aales)
TamBt accouQtfl
Plscol year
or month
Total
truBt
accounts
3,0602/
2,3113/
19^8
19^9
1950
1951
1952
-1(02
I^atlremant
Account
569
346
338
357
l,l.ll»
1,678
1,950
3,301
2, 051*
1,362 6/
3,068
1,688 S/
1,236
1,5^15
2, 607
2, 516
1,891
1,777
1,592
1,039
Tjaen5)loy-
iMnt
Trust
ruml
Rational
Service Life
Insurance
Fund
Gorenment
Goremaent
Ufe
eiiq>loyeee
Insurance
Fund
retiresunt
funds 1/
-160
k6\
353
32
32
-72 1(
-l,9't6
-26
Other tru6t
accounts 2/
363
Wt7
650
9'»
8
5^3
573
9
l»lt9
583
-2li5
1
62it
-6
280
202
lUl
590
59
23
-2
-eit8
-65
588
252
-5U5
73
-1
31"*
9
1
lU
111
122
177
126
96
-10
5
503
513
17
17
-6
-7
-5
-2
15
235
7
-6
y
Hew reporting basle
1953
195U
1955
1956 (BBt.)
1957 (Bfet.)
1955^uUr
251*
August
September
99U
-319
-236
,
378
1U6
1956-Januai7
February
March
Rallrowi
1,19'*
l,29l»
3,369
3,355
3,557
3,636
October
Norember
December
3/
Federal Old -Age
and Surr Ivors
Insurance Trust
Fund
-373
11*0
,
69
1,522
1,21(1
2/
259
976
265
-Wt
I138
''5
29
218
50
-33''
-269
-2
-66
-9
-251
377
1U6
-228
179
136
-29
-1.2
-7
35
8
161
-6
-3
10
-It
-5
-379
128
66
-21*7
-37
ho
7
-118
Jt
-5
-32
-3
70
176
7
-139
1951
1952
Kev reporting basis :
Federal
Bousing
MstlnletratlOD
Federal Soring
and Loan
Insurance
Corporation
lit
UO
18
-8
19
6
-5
-It
-3
-6
25
-It
15
2I1
33
GoTenmant-Bpooaored enterprises
Publlo enterprise funds
Totia
public
enterprlB
funds
Flacal year
or month 8/
-lit
Total
Goremment-
Other
idt
101
52
11
111
21
7
73
79
-77
59
-86
9
11
12
-2
sponsored
enterprises
8U
179
Banks
for
oooperatlTes
Federal
Deposit
Insurance
Corporation
62
81t
Federal
home
loan
banks
Federal
land
banks
21
95
U/
1953
195lt
^53
ltlt3
87
61
102
31l»
,
5/
18
HsnorandisD 2/
9510/
13
1810/
66
80
16
18
5
13
-10
1
1
-136
It
-li9
It
2
9
-liO
1
12
2
1
It
3
-6
2
2
1
1
2
-3
127
227
-17
U
120
221
-28
7
12
-1
11
6
68
217
1
285
70
It
56
2
63
1
61
1955
:i26
1956 (Est.)
1957 (Eat.)
113
1955->JuU
August
September
91
-It
•.•...•..
October, ,,.,,,
November, .,«
December, .,«
1956-Jan\4ai7
February
March
.,
18
15
15
1
2
98
82
8
3ltO
205
99
105
231
15
It
Source: See Table 1.
1/ Consists of Civil Service and Foreign Service retirement finds.
Prior to 1951, consists of Adjusted Service Certificate Fund.
Prior to 1951, net inveatanent by smaller trust accounte and by deposit
fund accounte la included in expenditures in Table 3,
U/ Ab announced February 17, 195'+; see page 1, footnote 6.
For explanation of difference from Budget figures, beginning 1951*, see
"2/
"Cash Income and Outgo," Table 7, footnote 2.
6/ Excliriee net Investment by Govemment-spansored enterprises beginning
with the fiscal year 1955 (see Table 1, footnote It).
X/ Includes net sale of $300 million for adjustment of excess transfers
2/
37
170
8/
2/
10/
•
-2
100
-136
-U7
Jtl
10
1
of tax receipts in 1952 and 1953 {see "Budget Becelpte and Expenditures
Table 1, footnote 15).
Prior to 1951, net Investment by public enterprise funds was Included
In budget expenditures, and net investment by Govemment-sponeored
enterprises was Included in deposit fund expenditures (see Table 3).
Net Investment by Government-sponsored enterprises beginning 1955 is
Included in deposit fund expenditures in Table 3Beginning 1955, figures Include net transactions in guaranteed
securities by Federal Housing Administration and Federal National
Mortgage Association.
Less than $500,000.
Treasury Bulletin n
.TKUST ACCOUHT AND OTHKF TRAHSACTIOHS-
Table 5.- Net Redemption or Sale of Obligations of
Government Agencies in the Market
(in allllonB of dollara; nagatire flguree Indicate net aalea)
Securities guaranteed
tij
the United States
Public enterprise funds
Fiscal 7ear or month
Total
guaranteed
-107
74
1948
igitg
22
1950
1951
1952
-384
72
nev reporting basis:
1955^u:j
August
September
October
November.
December
1956 -January
February
March
1
-1
Federal
Housing
Administration
11
14
-3
-12
-16
-7
-29
37
-7
-30
37
-211
-33
-33
-Sl(2
-7
-8
•C7
-1
16
3
-e
-4
-2
u
-602 2/
1956 (Est.)
1957 (Est.)
3
31
9
Federal
Farm
Mortgage
Corporation
1/
25
1953
195^
1955
16
46
8
-10
-16
Commodity
Credit
Corporation
3
55
64
33
2
-128
-40
-5
-1
-5
-1
Hone
Owners'
Loan
Corporation
.
...
.
-
,
•
May 19%
.THUST ACCOUMT AND OTHER TRANSACTIONS
Table 6.- Federal Old-Age and Survivors Insurance Trust Fund
^
(In alllloDa of dolXara)
Baottlpte
Fiscal 7«ar
or Bcoth
ApproprlatlanB
Total g/
1937-U7
Intaraat and
poroflta on
Inraeteenta
Xzpe&Altnrea othar than Inraataants
Othar
y
19W
1,807. 1»
19^9
1950
1951
1952
1,923.8
2,366.8
3, "HI.?
3,931.5
9,719.0
1, 616.2
1,690.3
2,106. It
3,119.5
3,568.6
839.7
190.6
230.2
256.8
1953
I*,5l6.3
U,086.3
386.6
195l>
"•,537.3
1955
5,080.3
5,585.8
5,039.6
''38.9
lt38.0
11.6
9.6
1956 (Eat.)
1957 (Est.)
7,096.5
7,335.6
6,li75.0
I169.O
7.'*
6,635.0
565.0
5.5
22lt.7
53'>.5
198.5
911.6
518.7
305.7
708.9
541.2
267.7
691.9
338.7
187.1
665.2
533.9
162.5
'13,809.'*
10,558.8
Hev reporting haale:
333.5
lanaflt
pa^aanta
1,760.7
559.1
660.5
78'>.1
1,529.6
511.7
607.0
727.3
25.7
1,568.5
2,067.1
1,'*98.1
1,982.'*
'»3.3
2,750.0
92.lt
3,'iOl>.8
2,627.5
3,275.6
98.6
't,'*87.5
'*,333.1
51.0
125.0
130.0
5,530.2
5,3'*0.0
66.0
68.0
.7
3.3
3.6
3.7
3.7
.9
6,21*9.6
6,050.0
18.8
12.0
''35.2
'*2'*.l
1*38.6
1*28.1*
.1.
'*37.8
1*27.9
509.9
201.1
19.8
12.8
1.3
512.'*
1.0
3.3
13.7
39,731.3
3,660.0
925.0
•
1956-JanuaT7
February
March
1937 to data 8/
7.'.
1.3
15.3
18.1
'».2
6lt£.2
Ezpendltoraa other than
Inres^Mnts - (Continued)
Flecal year or Moath
MxDlnletratlTe expenaea
SelAburaaaanta to
general fund 2/
lA.O
1*'*9.2
.2
1*36.6
1*'*6.9
1.37.'*
23.5
15.7
7.7
1*48.2
'*38.5
.6
1*67.9
l*'*J*.6
373.8
22,130.8
21,021.'*
1953
1954
1955
?4.4
26.0
27-1
65.1
62.7
76.2
1,766.3
1,675.5
1,098.4
20,01*2.6 8/
1956 (KBt.)....
1957 (Est.)....
28.9
29.5
2.4
95.3
loe.i
19'*9....
1950....
1951. .
1952....
.
New reporting baa la:
1955-JulJ
August ....
September
October.
November.
December,
1956 -January .
February .
March
.
.
1937 to date 8/.
^
^
66.0
190.5
8,798.4
10,046.7
Dhexpeoded
balanoa
U,309.9
8,742.3
9,936.8
11,230.7
12,892.6
14,735.6
16,600.0
14,322.8
16,273.1
56.1
109.9
79.3
247.8
412.8
327.0
21,141.0
17,817.6
19,339.9
20,580.5
548.8
702.8
560.5
1,566.3
1,086.0
22,707.3
23,793.3
22,172.4
23,211.4
534.9
581.8
8.7
6.7
7.5
-210.5
486.3
96.6
20,930.4
21,416.8
21,513.4
20,845.9
21,283.9
21,015.0
84.5
132.9
498.3
7.2
-204.3
10.0
7.0
259.7
7.8
94.3
-261.1
210.6
66.0
21,309.1
21,568.8
21,663.1
21,402.0
21,612.5
21,678.5
20,787.0
20,966.0
21,101.9
20,854.5
20,924.8
21,100.8
522.1
602.8
561.2
547.5
687.7
577.8
526.8
21,678.5
21,678.5
21,100.8
577.8
12,61*4.8
jj
3.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
392.0
7.3
7.5
Source: See Table 1.
Includes transactions under the predecessor Old-Age Beserve Account.
2/ Beginning November 1951, the total Includes small amoimte of receipts.
In the nature of recoveries from expenditures Incidental to the
operations
For basis, see "Budget Pecelpts and Szpendlturee," Table 1, footnote 12.
4/ Through 1952, consists of transfers from general fxmd under Section 217
of the Social Security Act, ae amended: beginning with 1954, consists
of transfers from the BalliT)ad Eetlrement Account ( see Table 8)
To cover employees of States and their political subdivisions, under
provisions added by the Amendments of 1950 (64 Stat. 5l6).
6/ Belmbursement to the general fund under Section 201 (f) (2) of the
^
'*0.5
1*57.7
Invastmante
Bureau of OASI
10/
8,798.4
1,248.3
1,263.3
1,582.7
1,843.0
1,864.5
.
33.0
Asaata, end of parlod
Ret increase,
or decrease (-»),
In aaeets
25.2
34.4
39.3
42.3
51.9
59.9
.
1*31*
1*51*
206.0
13.0
14.1
14.6
18.6
24.8
1937-47.
19'*8.
Bofunda of
tazea 6/
2/
1955-July
August
Septemtwr
October
Not ember
December
2&7.I.
Deposlta tr
Statea 2/
18,366.4
Social Security Act as added tfj the AmendmentG of 19^.
Afi announced Fel)ru«ry 17, 195^; ae* paee 1, footnote 6,
Includes adJuBtments to monthly statement baela.
2/ Under Section 201 (f) (l) of the Social Security Act, as amended; for
amounts expended by the Department of Health, Education, and Welfare
(and predecessor agencies) and the Treeaiiry Department for the adjalnIstratlon of Title II of that act and the related peu-te of the
Internal Revenue Code (26 U.S.C. 1*80-1*82, lUO0-ll*32),
(See alao
footnote 10).
10/ Salaries and eipenaee of the Bureau of Old-Age and Survivors Ineurance, paid directly from the trust fund beginning 19^*7, under provisions of annual appropriation acts; and conatructlon of an office
building, beginning 195'*
10
Treasury Bulletin
.TRUST ACCOUHT AND OTHKR TRAHSACTIOHS-
Table 7«
Unemployment Trust Fund
(In
ffllllloDa
of dollars)
BeoelptB
State acoounte
Plecal year or nonth
Total
Depoalte
1936-Jt7
12,257.8 5/
1,312.9
1,173.2
1,281.0
19'tB
191*9
1950
1951
1952
V
Ballroad Uhe^lOTOent iDstarance Account 1/
States
Contnimtlana Sj
10,555.5
1,007.3
71*6.3
981*.0
.1
1,098.8
1,362.6
9.7
14.9
1,1*39.0
15.1*
1953
1,593.8
1,371.1
1951*
1,1*92.5
ijtes.i*
1,21*6.0
1,11*6.2
15.0
17.8
1955
1956 (Est.)
1957 (Eat.)
1,608.9
1,609.9
ito.i
302.3
Transfers froa
general fund
56.9
9.7
9.0
130.6
1,51*1.6
1,61*3.3
New reporting basis:
Transfers fi^on Administration yund 2/
Federal UnoBployent Account jt/
Interest on
InTestaents
792.0
165.3
180.1
167.1
l6l*.l
18I*.5
6/
1955-Julor
August
September
2oe.e
22lt.lt
ll*.2
1.6
61..3
199.1
1,300.0
1,250.0
26.0
81.0
1.7
2.1
86.8
80.5
19lt.lt
53.2
299.9
9.6
.1
86.8
.1
.1
.6
U.7
196.3
2.1
1.1*
October
November
December
56.3
1*5.6
221.1
107.9
220.2
l6.9
1956-January
February
Harcb
1*2.1*
1*2.3
156.8
17.5
155.1*
ll*.l
1.3
.1
.2
2.5
.9
21,069.0
975.1*
1936 to date 2/
2"*, 778.9
2/
10.5
.2
.9
2.8
«
88.2
96.3
151.1
2,380.0
Expend! tores other than InTestosnts
Assets, end of period
Plscal year or ncoth
1936-1*7.
191*8
191*9....
1950....
1951....
1952....
New reportii^ basis:
State aocoants
Ballroad Unesploy.
ent Insurance
Account X/
Withdrawals
by States
Benefit
paynente
U3.5
Het Increase,
or decrease (In assets
U,388.8 5/
858.9
1,313.8
2,025.5
900.3
U,168.1
798.1
1,227.1
1,879.0
11*6.5
81*8.3
52.0
61*1.3
1,01*8.6
1,000.3
1*8.3
594.7
7,869.0
60.8
1*51*.
86.7 8/
1/
-11*0.6
-7l*l».5
6/
1953.
1,009.8
912.6
97.3
58l*.0
1951*.
l,7l*l*.9
l,60l*.e
lltO.O
1955.
1,965.1*
1,759.5
205.9
-252.1*
-51*0.0
1956 (Est.)....
1957 (Est.)....
1,1*39.2
1,250.0
1,603.3
1,1*25.0
189.2
178.3
169.6
6.6
94.5
99.6
5.1*
1*5.6
8.8
8.6
202.6
-74.6
-18.9
144.7
4.5
1955 -July
September
86.3
89.1
90.8
77.7
October. ..
Noyember.
December.
75.2
67.0
76.lt
67.3
103.5
92.7
8.1
9.1
10.8
1956-January.,.
February.
March
152.5
151.9
162.9
11*0.5
11*1.0
12.0
10.9
151.9
U.O
-110.1
5.0
-145.4
1936 to date 2/
16,271.2 2/
15,128.1*
1,035.7
8,507.7
Aug\ist.
. .
t&iexpelMled
Inreetaents
7,869.0
8,323.0
8,182.4
7,437.9
8,079.2
8,673.9
balance
..
.
.
.
9
7
1
:
98
9
93 .
5
May 19%
11
-TRUST ACCOUHT AND OTHER TRANSACTIONS.
Table 8.- Railroad Retirement Account
(In mlUlona of dollars)
Becelpta
Fiscal year
or acmth
Total
1936 At.
2,ioe.6
WW....
797. "»
19'»9....
677.'*
71*9.2
1950....
1951....
1952....
561.0
829.7
New reporting basis
Kzpendltures other than Inrestaonts
Appropriations i/
2,016.1
758.5
626.5
687.0
Ugo.S
750.8
InroBtaanta
y
66.5
38.9
50.9
62.2
70.2
78.9
1,277.7
222.3
278.2
89.3
98.7
101.0
1,277.7
222.3
278.2
299.9
316.2
1*.5
i*.9
38I..6
6.1
1*65.1
lt58.9
500.0
585.1
1*84.6
569.3
6.1
5.8
6.3
6i3.lt
6I19.9
599.1
637.1
6.9
7.3
1*7.5
1*7.7
1*7.5
.6
304. It
321.0
390.7
1955.
653.0
619.2
598.9
1956 (Est.)...
1957 (Est.)...
730.0
770.0
625.0
661.7
105.0
108.3
1955 -July
August
September
15.6
85.2
60.2
15.5
.1
55.5
81)
.2
It8.2
195l».
.
Oc tober
.
18.5
.
November.
December.
Harch
1936 to date 6/
let
Inereaae,
or decrease (-),
In assets
821*.
y
.9
Assets, end of period
Total
821*.
Inreet-
ents
805.5
unexpended
balanoe
l,37l*.5
19.1*
25.1*
2,21*J*.0
1,720.0
2,057.6
186.1*
2,1*83.9
2, 1*11*.
69.1*
2,922.9
2,863.1
59.8
575.1
399.2
1,399.9
1,799.1
1*1*4.8
21*0.0
1*39.0
1*8.0
59.8
18.0
8U.8
.!»
.5
.6
50.1
U9.I*
277.2
215.9
3,201.9 6/
3,lii2.8
3,1*17.8
111*.
3,532.5
3,31*5.3
3,1*85.9
7.1.
U6.6
3,61*9.1
5.5
120.1
3,769.2
7.1*
-39.9
36.9
12.2
3,1*92.6
11.6
9.6
.5
.5
79.1
3, liltl.it
3,lt86.6
51.2
3,529.5
3,51*1.7
3,lt8Jt.8
56.6
53.9
5lt.l
-31.6
35.0
5.1
3,510.1
3,51*5.1
3,1*90.9
3,1*99.3
-32.1
35.6
3.7
3,518.1
3,553.7
3,557.1*
50.lt
1*9.9
.8
50.3
1*9.9
17.3
85.1
53.9
.9
1*9.8
1.0
1.1
50.3
50.5
51.3
50.0
50.8
.5
.5
.5
8,358.6
7,676.1*
682.2
U,801.2
l*,73lt.O
38.6
28.6
1*6.6
52.6
51.1
.7
.5
.5
5'*.7
59.1
72.5
3,596.6
3,718.1
3,lt56.2
55.5
18.2
86.1
55.0
85.it
1956 -January..
February.
Transfers
to TOASl
Trust Fund 3/
5/
7te.3
717.9
699.9
1953.
AdalnlstratlTe
expenses 2/
Benefit
pejasnts
3,550.2
1*2.9
50.9
56.2
51.7
3,1*61.9
3,557.1*
3,502.0
3,509.1
lt8.3
3,557.1*
3,509.1
l>8.3
fund l)eglnnlng 1950 (63 Stat. 297).
Paid from
Pursuant to the Railroad Eetlrement Act aa amended October 30, 1951
(1*5 U.S.C, 228e).
Appropriatlonfl reduced by $19-8 million In November I95I and $l8.7 million in Augtiet 1953 and these amoonta tranef erred to surplus, pursuant
to Public Lave 759, approved September 6, 1950, and 170, approved
Julj- 31, 1953.
As announced February 17, I95U; see page 1, footnote 6.
Includea adjuetmente to monthly statement basis
the trxist
Source:
See Table 1.
1/ Includes the Goremment's contribution for creditable military service
under the act of April 8, 191*2 (56 Stat. 201*). Beginning 1952, appropriations of receipts are equal to the amount of taxes deposited in the
Treasury (lese refunds) under the Railroad Retirement Tax Act, and
transfers are made currently subject to later adjustments (see Budget
Receipts and Expenditures, Table 1). For prior years, appropriations
were Included here when made, but were Included in Table 2 when the
fux^s were transferred from the general fund. Beginning 195lt Includes
unappropriated transfers of tax receipts.
1^
Table 9«- National Service Life Insurance Fund
(In
Ulltma
of dollars)
Erpen<ures other
than InrestBents
Baceipte
Fiscal year
or mcnUi
Px'^iilaina and
Transfers froa
other receipts general fund
19'tl-i*7.
7,253.1
739.7
690.1
19lt8
19lt9....
1,076. It
1950....
1951....
1952....
683.7
786.0
New reporting basis; l/
"636.6
1953.
I95I1.
619.3
1955.
590.5
1956 (Eat.)
1957 (Est.)
1955-July
August
September
October.
November.
December
.
.
1956-January .
February .
March
.
19ltl
to date.
.
.
.
,
.
.
,1*25.7
3,1*1*7.3
387.5
392.8
398.7
153.0
37.0
1*72.8
1*80.1
1*3.1*
1*26.1.
203.5
397.7
390.8
81*.
Intereet on
InTeetments
380.1
199.2
210.3
205.0
160.3
156.2
15lt.9
i56.lt
Benefits and Special
refunds
dividends
725.5 r
301.9 r
725.5 r
301.9 r
3lt8.1
3lt8.1
2,987.9
613.6
996.3
1*05.5
61tl».9
ltOlt.7
81.2
602.1
1*15.0
21*.
32.5
92.9
36.1
32.3
.3
39.0
3lt.9
1*3.1
33.5
58.0
2.5
.1
1*1*.
35.1
33.8
33.7
33.6
32.1
31.5
1.1*
.1
1*1.7
1.6
2.1
.1
.1
39.9
37.9
I1O.3
38.8
35.9
1.5
2.2
1.7
.1
.1
1*1.7
.3
49.2
66a. 1
1,780.2
8,103.3
38.2
36.9
13,it5lt.8
3'*.9
7, 012. It
It,
Source: See Table 1.
1/ As announced February 17, 195lt: see page 1, footnote 6.
159.0
163.0
351*.
391.1*
1*55.5
588.0
622.6
537.8
72.1
27.8
157.2
Het increase,
or decrease
3lt2.0
-1,9U.5
153.8
177.8
382.9
151* .9
.2
1*5.1
1*,
lt8.7
5, 301*.
5,2lt9.5
5lt.8
-3.3
5,301.0
5,353.7
5,272.5
28.5
8.0
5,1*78.0
5,57l>.2
5,1*72.0
5,339.6
5,389.6
5,380.6
-6.1*
5,31*7.2
12.0
1*9.8
.2
-8.0
5,397.0
5,389.1
29.5
29.1
28.1
12.3
10.8
-6.6
-6.1
9.8
-1*.2
5,376.3
5,372.1
30.0
30.2
32.0
11.6
17.2
-1.3
-6.9
-12.3
3,995.7
5,351.5
Less than $50,000.
Berlaed.
5,31*5.6
96.2
10.1*
107.6
53-9
30.6
19.6
53.6
30.2
65.0
5,190.6
52.6
11*.
7,287.7
5,255.6
28.5
31.1
29.9
lit
6,li73.7
6,93lt.7
Unexpended
balance
5,3lt2.1
5,it35.6
12 1*. I*
520.6
505.9
520.6
505.9
6,527.6 r
6,965.3
7,307.3
5,395.8
InreatBsnts
5,1*65.9
70.1
-210.2
51*0.8
1*1*1*.
1*31*
Total
assets
6,527.6 r
It37.7 r
2,633.0
222.2
Assets, end of period
5,568.0
6.0
6.2
7.6
7. It
8.5
5,373.6
5,367.6
5,363.6
8.8
8.7
5,370.7
5,363.8
5,351.5
5,359.6
11.1
9.2
5,351.5
5,3lt2.6
5,382.1*
5,35lt.6
5,3lt2.6
8. It
8.8
12
Treasury Bulletin
.
TEUST ACCOUNT AMD OTHER TRANSACTIONS
.
Table 10.- Investments of Specified Trust Accounts In Public Debt Securities,
by Issues, as of March 31, 1956
(In
Issue
minions of dollars)
May
1956
13
.CASH INCOME AND OUTGO.
The cash Income and outgo data appearing In the
"Treasury Bulletin" have been revised, beginning with the
February I956 Isoue, to a basis consistent with receipts
from and payments to the public as derived in the 1957
Budget of the United States, Special Analysis A. Reconciliation to cash deposits and withdrawals In the account
of the Treasurer of the United States is shown on the
same basis as in the Budget document. There Is also shown
the amount of net cash borrowing from, or repayment of
borrowing to, the public. By these arrangements, data in
accordance with the Budget classifications
ai'e
Budget
enterprises
through
sales of their own securities.
It excludes changes in the public debt which do not rep-
resent direct cash borrowing from the public. The net
effect of all these transactions with the public is
reflected in changes in the balance in the Treasurer's
account and in cash held outside the Treasury.
made avail-
able month by month.
Figures for back years have been
revised where necessary in order to make them as nearly
comparable with the 1957
representing cash received from the public. Federal cash
borrowing from the public includes net borrowing by the
Treasury through public debt transactions and also net
borrowing by Government agencies and Government-sponsored
classifications as
available data will permit. For this reason certain of
the figures differ somewhat from those published in
earlier Budget documents as well as in the Bulletin.
Cash transactions through the Treasurer's account ar
similar in general concept to those Included in the Budget
series, but are limited in coverage to transactions which
affect the balance in that account.
On the other hand,
they Include receipts from the exercise of monetary
authority, v4iich are excluded from receipts from the public
in the Budget series.
The Budget series of cash transactions is designed
to provide information on the flow of money between the
public and the Federal Government as a whole, and therefore
includes transactions not cleared through the Treasurer's
Beginning with figures for the fiscal year 1953, the
series of transactions with the public is based on the
Operations of Oovemment-sponsored enterprises are included
"Monthly Statement of Receipts and Expenditures of the
United States Government," which is compiled from reports
by all collecting and disbursing officers and includes
those transactions not cleared through the Treasurer's
inpayments on a net basis as reflected in Treasury reports.
account.
Major intragoyemmental transactions idiieh are reported as
both expenditures and receipts are eliminated from both.
Noncash items which represent accrued obligations of the
account, beginning with the figures for the same year, are
account.
Receipts and payments Include transactions both
in budget accounts and in trust and deposit fund accounts.
Government to make payments In the future are also eliminated
from expenditures but are added later when actual payments
are made.
Receipts from the exercise of monetary authority
(mostly seigniorage on silver)
are
excluded
as
not
Cash deposits and withdrawals in the Treasurer's
reported in dally Treasury statements.
For those years
prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of dally Treasury
statements which reported separate classifications for
budget results, trust account transactions, etc.
Ik.
Treasury Bulletin
CASH INCOME AND OUTGO
Table !•- Summary of Federal Government Cash Transactions with the Public
(In millions of dollars
Net caah transactlona vlth the public
other than borrovlJig
PlBcal year or month
Federal receipts frcin
the public
19i+«
1*5,357
1*1,576
19^9
1950
1951
1952
Federal payment b to the
public
monetary
authority
Equals:
Change In cash balancee
Treasurer's accoxint Cash held outside
balance. Increase,
Treaeuiy, Ijicreaea,
or decrease (-)
or decrease (-)
37
1,621.
1.6
-1,1.62
l.,229
25
2,01.7
-5,796
-505
1.3
1,839
68
2,919
2,512
1,819
29
-2,61.9
-2,1.61
27
27
1.1.9
3,001.
2
6,910
6,117
-831.
-130
1
1
5,819
5,800
6,218
-2,775
-59
-936
2,717
2
1
1
-606
-717
25
-3,832
1
2
-1,293
3
2,316
-29
-16
-28
799
15
856
-97
1*3, 11*7
53,390
68,013
1*5,797
67,961*
1953
71,1*99
195**
71,627
67,836
76,773
71,860
1955
1956 (Eat.)
1957 (Eat.)
8,861.
1,006
-2,207
7,593
1.9
1/
1955-Julj
August
September
October
November
£xce88 of
receipts, or
paymente {-)
Plus: Receipts flxn
exerclso of
-7,270
-2,513
36,1*93
1*0,570
l*0,9l«D
New repoi-ting basis:
Plus: Net cash
borrowlne from
the public, or
repayment (-)
-232
-2,712
73,1*73
75,35"*
71,01.9
2,tei.
3,113
6,076
5, '562
6,11.1
3,0W.
5,71.1
,,
-5,271*
70,51.8
72,920
2,1*31.
-2
,
25
DecflStbor
5,232
1956-Januai7
Fobruarj
March
1|,961*
7,11*0
5,570
5,679
1,1.62
11,981
5,861*
6,116
1956 to date.
53,1*32
53,537
-55
Source: Actual flgijrea throi^ 1952 are baaed on the old dally Treaaury
atatement; actual figures on the nev reporting basis are tafled on
the "Monthly Statement of Recelpte and Dcpendltures of the United States
Govemmont" and the new dally Treasury statement; estimates are based on
Table 2.
-15'*
31*0
1/
56
73
-2,299
2,096
-551
257
-312
-216
17
595
-1,058
-378
-38
95
-50
-62
-195
6
-17
-20
-57'.
1,501.
the 1957 Budget document, released January l6, I956, liicludlng effects
of proposed legislation; revised estimates for 1956 released May 17,
1956, did not Include estlmatee of cash truneactlons.
As announced February 17, 195**; see page 1, footnote 6.
Summary of Cash TraneactionB through the Account of the Treasurer
of the United States
May 19%
15
CASH INCOME AMD OOTGO
,
Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to
Casli Deposits in the Account of the Treasurer of the United States
(
Recelpta
PI60&I year
or mcn^
Budget
19't8
19^9
1950
1951
1952
(net)
Trust
account
1/
2/
1.8,003
2,592
10
37
2,61.6 5/
1.3,1.10
1,781.
I.
1.6
6,669
7,796
8,807
1*3,161.
55,364
70,198
2,197
1,930
2,116
1
1
1
25
.3
68
1,831*
2,221*
1,97".
8,929
9,155
9,536
73,75".
2,199
73,8U
2,U0
69,926
11,620
11,890
61t,5O0
66,300
2,765
August
September
l.,73U
October
November
December
2,692
Source:
RecooclllatlGD to cash trazis*
actioDfi In lyeasurer's account
Kecelpte
Tt^xl exercise
of monetar7
authority i/
Plus :
'.5,357
".1,576
U0,9l«)
37
46
25
2,185
53,390
68,013
68
56
2,255
71,1.99
56
73
2,1^
73
2,06l
29
2,090
71,627
67,836
76,120
78,190
2,621
2,810
27
27
2,61.8
73 ,".73
2,^7
75,354
7U5
1,502
721
3,510
6,235
6,220
39U
158
77
2
396
159
78
3.113
6,076
6,141
2
505
i,ite
8U1
3,197
151
2
1
1
153
63
3,044
5,741
5,282
371
1,009
757
4,964
7,140
11,981
AdJuB^Bsnt for
net difference
due to reporting method
(See Tahle >>)
BjuaXst
Cash
deposits
in the
Trees iirer's
account
45,394
41,622
40,965
53,433
68,081
43
6/
1956 (at.)
1957 (Est.)
5,1.98
March
Beoelpta
from
exerolee of
monetaiy
authority
5,71'.
60,390
195f -January
February ••••
Sxcesa
profits
tax refund
bond redunytloos
6,515
1955
•
ijitrBgoTommontal
transactions
(See Table ^)
Bluals:
Federal
reoeipta
Total def^rcm the
ductions
public
37,696
611,825
61»,655
1955^uly
DoductloDjB froD reoeipta
36,1*95
1951*
1953
In mllUooa of dollare
:
1.1,1.88
U7,568
61,391
Nev reporting basis
Z«66
i.,66a
U,889
l.,68l.
6,195
11,313
5,801.
6a
5,730
1.1.7
5,055
7,20U
12,070
90
6s
86
1
1
See Table 1.
1.1.8
1
92
2
61.
3
89
-210
114
-96
29
71,345
71,815
67,769
27
27
73,499
75,380
-321
256
-154
2,994
6,333
5,988
2
1
1
-176
192
2,869
5,934
69
5,353
1
2
-236
3
368
4,729
7,089
12,351
1
1
-53
Footnotes follov Table 7.
Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to
Cash Withdrawals from the Account of the Treasurer of the United States
(3^ mlUlons of dollars)
Less : Deductions
frcD expenditures
E^cpendituree
Trust
Fiscal year
or month
and
Budget deposit
fund
1/
accomt
Intra-
oremiiBnt *
sponsored
enterprise
goTemmental
tranaaotlooe
(net) i/
(Sae
2/
1948
1949
1950
1951
33,069
39,507
39,617
44,058
65,408
1952
New reporting basis:
Accrued
Interest
nnA ottier
noncash
Q^uals
Federal
payments
to the
public
expendltxtpes
(See Table 6)
-366
37,025
43,018
46,497
48,ooe
70,359
2,592
1,784
2,197
1,930
2,116
-e,o6o
664
1.153
275
279
36,493
40,570
43,147
45,797
67,964
-119
-435 2/
108
79,443
74,542
73.224
2,199
2,110
2, 061
472
572
615
76,773
71,860
70,548
3,734
3,852
6,964
3.654
5,317
222
-341
5,288
7.204 2/
8,546
-83
291
Less: Pajnenta to the public not
reflected In the Treasurer's account
Frcm cash
held, outside
the Treasury
i/
Tattle 3)
Traa proceeds or ealea
in the market of agency
obligations and public
debt securities (See
Table 7) 5/
for net
difference
due to
reporting
method (See
Table 3)
drawals
frcm
the
Treasurer's
account
36,440
40,462
43,079
45,718
67,794
79
170
6/
155
256
240
1956 (Est.)..,.
1957 (Itet.)....
64,270
65,865
9.561
10,200
242
45
74,073
76,110
2,621
2,810
404
381
71,049
72,920
-17
1955-July
At^ust...
September,
5,382
6,225
5,340
752
6,269
7,120
6,144
394
158
77
313
52
-50
5.562
6,910
688
136
168
115
October...
Norember,.
December..
5,355
5,172
5,651
900
668
663
208
6,463
5,848
6.331
151
62
447
493
-14
-335
5.819
5,800
6,218
38
-95
50
-6
17
9
-11
24
20
4
1956->Januai7...
5,274
4,950
5,399
904
870
761
-e85
-20
5,893
5,800
6,107
90
62
86
233
5,570
5,679
5,864
29
16
28
-18
10
55
See Table 1.
with-
52
74,274
67,772
64,570
Source:
MJusteent
108
68
1953
1954
1955
February..
March
Biuals;
Cash
Reconciliation to cash transactions
In the TreaaiD:<er*8 aocoxmt
727
8
17
-53
60
156
6,U7
-257
312
Footnotes follow Table 7.
-210
U4
-96
76,407
71,974
69,899
71,066
72,920
50
5
-121
256
-154
5,352
7,256
5,904
-176
192
69
5,659
5,951
6,264
-236
5.323
5,600
6,149
-53
368
-
...
'
16
Treasurij Bulletin
CASH INCOME AND OUTOO.
Table 5.- IntraKOvemmental Transactions Excluded from Both Receipts and Payments
(In mllllona of dollars)
Buflge* receipts irtiloh are Budget realso budget eipendltxiroo ceipts vhloh
Flflcal year
Interest paid
to li^aBiiry
by public
enterprise
or month
are alfio
trust fund
expenditures
Other
2/
2/
faads
19W
87
102
Nev reporting baelg:
Interest on
Investznent In
public debt
securities
Interest
cai uninvested
trust
funds
Payroll deductions for
employees
retlramont it/
2/
6/
236
327
358
378
7lt6
W
8I1I
880
892
987
29
11*7
10
2,592
1*55
366
1,781*
831*
2,197
1,930
2,116
398
lill
573
jj
Xkk
59
i.ogit
tec
1*63
7
1,188
1,173
1*30
7
68
81
167
166
18
16
9
10
99
l,201t
555
1*1*9
13
101*
1,289
551*
1*59
10
2
U
•
1.0
31*1
391*
2
51*
60
3
17
1*3
3
158
77
69
29
1*8
3
6
1.9
3
3
151
62
3
291
1.8
3
1*1*7
2
3
53
3
90
3
6
17
32
5
60
1*
62
86
228
6
6
1955.
173
1956 (Eat.)....
1957 (Eat.)....
283
376
1955-July
Auguat ....
»
1953.
26
11
Septemlier.
October. .
November.
December.
1
26
15
1956 -January...
February..
March
Source:
Other
Trust fund
receipts which
are also
trust fund
expenditures
Trust f\ind receipts vhlch are alBo
budget expenditures
270
765
170
18
20
25
113
32
73
V)k9
1950
1951
1952
Budget receipts
^Ich are also
Gove rnmen t
sponsored
enterprise
expenditures
3
1*39
2,199
2,110
2, 061
,621
,810
Footnotes follow Table 7.
See Table 1.
Table 6.- Accrued Interest and Other Noncash Expenditures Excluded from Payments
(In mllllcns of dollars)
accrued
Interest on
Barings bonds
and Treasury
bUlfl i/
Ncncaeh expenditures InrolTlng Issuance
of public debt securities
Ifet
Fiscal year
or month
I9U8
191*9
1950
1951
1952
Hev reporting basis:
Armed forces
leave bonds
^
556
581
-2
-2
-161.
638
758
-1
-1
-95
-160
-68
Intematlonal
Bank series
-350
-25
-Ul
International
Monetaiy Fund
series
securities
Included In
expenditures
-563
30
-98
207
6
28
Clearing
account
for
checks
outstanding,
etc. 8/
-507
366
U83
Total
-2 ,060
661.
13
-211.
-9
-1*01
1,153
275
279
28
109
156
-250
-115
-55
572
615
55
-18
ItOl.
50
21.
381
-ite
-17
-62
313
52
-50
2/
718
52U
U97
1956 (Est.)....
1957 (Est.)....
375
315
1955-Ju3j
August ....
September,
October. .
November .
December.
69
31
1956-Januaiy . .
February .
March
51*
See Table 1.
Adjusted
service
bonda U/
-1,221
1955
Source:
Net investanent
In public debt
^
Special notes of U. S. 6/
-1.
195I*
1953
Clearing
account for
public debt
Interest 2/
68
26
-1
-1
-1
-11.
-8
-8
-8
1.6
31*1
1*1
38
-28
26
uo
87
-I198
321
-213
158
160
-7
359
5
1
38
1.3
-1
-1
30
11
-11.
Footnotes follow Table 7<
1.72
1*93
31*
-lU
-335
-209
233
52
132
156
60
Maij
mi)
17
CASH IHCOME AND OUTGO.
Table 7.- Derivation of Federal Government Net Cash Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Net borrowing, or repayment of borrowing
Change In public debt
Plus: Net sale of obligations
of Government enterprises in
Public debt
increase, or
decrease (-)
Fiscal year
or month
-the
{-)',
boA.
in mllllone of dollars)
aeeocy obligations held by the public
Less: Net InTestznent in Federal
securities by Gorerrcient agencies
suu^et
Public and
trust enterprise fiaidfl
Guvei'uiient-
sponsored
enterprises
Trust funds
-5,99"*
-16
323
191.9
1.78
-1.6
1950
1951
1952
lt,587
-8
10
llU
-28
-Ik
-186
3,369
3,355
33
3,068
279
191.8
-2,135
3,883
Hev reporting bas is
37I'
3,060
2,311
Public
enterprise
funds
30
6
28
Govemnonteponeored
enterprises
-99
313
Qjuals:
Increase In
securities
held by the
public, or
decrease (-)
-8,878
-2,226
69
l.,870
loi.
a
101
179
-5,308
175
1,686 2/
1,236
79
-77
326
153
IA6 2/
3,130
171
2,1.63
2,516
1,777
113
3l«
205
-e,228
-2,103
-136
-U9
-UO
3,U8
-1.02
1/
195lt
6,966
5,189
1955
3,U5
-59
-lU
6oe
1953
U
3,61«)
-71.
2U
582
-500
21.2
250
3,210
725
27
•
1
-833
-16
119
75
-331*
October
November
December
2,31*1
-55
-61.
335
235
-251
377
15
319
632
1
127
227
11.6
1
-17
2,731
-Ilk
470
1956-January
February
March
-720
-2
-3,761.
1.0
7
12
2
-631.
128
-379
128
285
60
70
63
-3,81.6
1956 (tet.)
1957 (I»t.)
1955-July
August
September
,
-33
50
10
259
976
66
91
-1.
18
15
-99
-Ull.
28
.
IS
Treasury Bulletii,
CASH INCOME AND OUTGO
Footnotes to Table 3
For further detail, see "Budget Receipts eind Eaq^endltureB," Table 1,
For further detail, see "Trust Account and Other Transactlana," Table 2.
Treated aa noocash refund deductlona frcm receipts Wien laeuod and as
cash refund deductions vhen redeemed.
CcBieiete of selgnKMrage en silver and Increment resxiltlne from reduction
In the weight of the gold dollar; excluded frcm receipts frcm the public
but Included In cash deposits In the Treasurer's account.
Total Includes $8 mllllan of armed forces leare bonds redee^d for
Insurance premluns; after August 31, 191*7, these bonds were redeemable
for cash (see Tables 6 and 7),
As announced Februaiy 17, I95U; see page 1, footnote 6.
Less than $^00,000.
^
6/
•
Footnotes to Table 4
^j
For further detail, see "Budget Receipts and Expenditures," Table 2,
For further detail, see "Trust Accouat and Other TYansactlons , " Tables 3,
U, and 5.
Includes net change In balances In Govenment-epcnflored
enterprise deposit fund accounts with the Treaam^r of the Iftilted States,
Net operating expenditures, or receipts (-), as measured by funds provided
by or applied to net security transactions reflected In Treasury reports
(see Table 7). To a Large extent, these Gove mnent -sponsored enterprises
secure funds for their operations by direct borrowing frcm the public or
by cashing Federal securities which they hold, and they apply the
net Inccme received froa operations to repayment of borrowing from the
public or to inveeiaaent In Federal eecurltiea. On that basis, not ex-
penditures for operations are shown In Lhls table In texus of the
combined net of disinvestment in Federal seciirltles and sale of agency
obligations in the market, and net receipts frcm operatlans axe shown
in teiTBS of the ccmblned net of Investment in Federal securities and
redempticn of agency obllgatiCKis in the market,
Not reported prior to 195^.
Consists of only those market transactions not cleared through the
Treasurer's account,
As announced February 17, l?^**: see page 1, footnote 6,
See Table 7, footnote 2.
U/
^
6/
2/
Footnotes to Table 5
2/
i/
\J
Federal intermediate credit bank franchise tax and, beginning 1953,
also reimbursement by Panama Canal Ccmpany for expenses and services.
Includes relmburseiaent by Federal Old-Age and Survivors Insurance Trust
Fund for administrative expenses and, beginning fiscal year 1953, also
for refunds of taxes (treated as an offset to refunds rather than being
credited to receipts); reimbursement by the District of Columbia; and
through 19^9, proceeds of ship sales irtilch had been carried in trust
accounts pending allocatlan to budget receipts fran sale of surplus
property.
Cansiets of payment of earnings and repayment of capital stock to the
Treasury through 1952, and beginning 1955, payment of franchise tax
by banka for cooperatives.
Includes relatively gT"*T1 amoomts of deductions from salaries paid by
trust funds and Oovemment -sponsored enterprises.
S/
6/
X/
*
Cansiste of Ttolted States and Government corporation shares of
contributions to employees* retirement funds, and payments to the
Railroad Retirement Account (for creditable military service), the
Ifaemployment Trust Fund, veterans* life insurance funds, triist fund
for technical services and other assistance under the agricultural
conservation program, and District of Columbia.
Includes District of Columbia share of contributicxis to the Civil
Service retirement fund, payments by Railroad Retirement Board to
Federal Old-Age and Survivors Insurance Trust Fund, transfers from
Civil Service retireioent fund to Foreign Service retirement fund,
and transfers frcm Railroad Oaemployment Insurance Administration
Fund to Unemployment Trust Fund,
As announced February IT, 195'*; eee page 1, footnote 6,
Less than $500,000,
Footnotes to Table 6
i/
2/
Accn*ed discount on savings bonds and bills less interest paid on savings bonds and bills redeemed.
Public debt interest accrued and ui^ald beginning June 30, 1955, effective date of the change in accounting and reporting flxm a due and
payable basis to an accrual basis; for 1951*, consists only of public
debt interest checks and coupons outstanding; net increase, or decrease (-), Not reported as a separate clearing accoiait prior to I954;
Interest reported when paid by Treasurer prior to November 19^9.
Treated as noncash expenditures at the time of Issuance of the securities aM as cash expenditures at the time of their redemption; net
Issuance, or redemption (-).
held by
iBS'jed in 1936 In exchange for adjusted senrlce certificates
veterans of World War I, The bonds matured in 19^5.
Issued In I9U7 In payment for accumulated leave. Figure for 19^8
eicl\^es $8 million redeemed for insurance premiums prior to August 3I,
I9U7, which was Inclined in trust account receipts (see Table 3,
6/
2/
8/
2/
•
The last
footnote 5); after that date they were redeemable for cash
of these bonds matured in 1951.
Part of the liiited States subscription to the capital of the International Bank for Reconstruction and Developnent and to the International Monetary Fund was paid in the form of ncninterest -bearing,
nonnegotlable notes payable co demand (see 19^*7 Annual Report of the
Secretary of the Treasury, pages U8, 350, and 385). The last of the
notes issued to the Bank was redeemed In 1950.
By wholly owned Government enterprises; beginning 1951, such net Investmenta are reported separately and are not Included In expendlturoi
(see "Trust Account and Other Transactions," Table i*).
Checks outstanding less deposits In transit, and telegraphic reports
fran Fodoral Reserve Banks; increase, or decrease (-), For public
debt interest included pi lor to 195^, eeo footnote 2,
As announced February 17, 195^; see page 1, footnote 6.
Less than $500,000.
Footnotes to Table 7
6.
As announced Februair 17, 195^1 m® 1*6® 1» footnote
treatment In Budget
In this table, beginning 1951*, in accordance with
by Governmentdoctsnents, net investment in United States securitlea
enterprises
sponsored enterprises includes a small amount by other
In Table u
public.
the
with
transactions
regaixied as representing net
these amounts are included
under "Trust Account and Other Transactions,"
in trust and deposit fund account investment.
,
^ ^ ,
*^
which is included in the
Accrued discomt on savings bonds and bills,
savings bonds and
principal of the public debt, less interest paid on
bills redeemed.
U/
^
6/
7/
•
Treated as ncmcaah tranaactiona at the time of issuance and as cash
transactions at the tUaa of redemption; net issuance, or redemptlcai
Kicluied frai borrowing because the transactions are treated as expenditures In Table 6,
deExcluled frcm borrowing because the transactione are treated as
dujtions from receipts in Table 3obligations.
and
agency
debt
soc\n*ities
in
public
Jtorket transactions
Less then $500,000,
May 19%
19
DEBT OUTSTANDHIC} and TREASURER'S ACCOUNT
Table 1,- Summary of Federal Securities
(lo Kllllons of dollars)
Total outetanrilng
Em
of
flacal
year or
ontli
laterast-beanog debt
Guaran-
Total 1/
Public
dsbt
tead
eeourltlaa 2/
1950
1951
1952
252,366
252,798
257,377
255,251
259,151
252,292
252,770
257,357
255,222
259,105
73
27
20
29
1953
266,123
1955
271,31.1
27l.,ln8
266,071
271,260
52
1951.
27l.,37U
1951. -December.
278,781.
278,750
1955^uly
277,626
278,352
277,581.
278,309
1.3
277,521.
277,1.76
October...
noTomber..
December..
279,866
280,189
280,822
1956 -January...
Febniary .
March
191.8
191.9
August....
September.
Matured debt and debt bearing do Interest
GnaraDPublic
debt
250,132
250,785
255,226
252,879
256,907
250,063
250,762
255,209
252,852
256,863
263,997
268,990
271,785
263,91.6
268,910
51
80
271,71.1
43
31.
275,76U
275,731
33
1.2
27l>,995
2711,955
41
1.8
275,753
27U,9e5
275,731
27"., 879
47
279,818
280,136
280,769
1.8
277,321.
277,681
277,851
277,277
277,628
277,799
47
53
53
52
52
280,102
280,167
280,01.9
276,31.5
277,221
277,351
273,539
277,170
277,295
276,1.01.
53
58
59
51
56
57
280,108
1.6
81
1.1.
Table 2.-
21.
17
27
1.4
43
273,1.81
Source; Daily Treasury statement.
1/ Includes certain obligations not subject to statutory lljaltatlcai.
For amounts subject to UmltatlcD, see page 1.
accludes guaranteed securities held by the Treasury.
Consists of FHA debentxireB beginning March 1953Special notes of the United States issued to the Intsmatlcoal
Monetary Fund In payment of pert of the Oilted states subscription.
I
69
S/
Other
Guarantasd
securities 2/
5/
(atured)
Public debt
t«ed
eecurltlee £/ 3/
Monetary
2,234
2,012
2,150
2,372
2,244
2,229
2,009
2,148
2,370
2,242
280
245
265
512
419
1,063
1,270
1,283
1,274
2,126
2,351
2,634
2,125
2,350
2,633
298
437
589
1,411
1,567
477
3,oeo
3,019
1,003
1,528
488
2,630
2,599
2,598
2,629
2,598
2,597
542
513
514
1,613
1,613
1,613
474
473
471
2,542
2,509
2,970
2,541
2,508
2,970
468
435
857
1,602
i,6oe
1,645
470
471
467
2,881
2,816
2,865
2,879
2,814
2,863
735
1,675
1,686
1,672
469
467
466
660
725
1,161
1,302
788
701
613
575
550
525
502
pursuant to proTlslone of the Brettoo Wooda Agroemienta Act, The notes
bear no Interest, are nonnegotlahle, aiid are payable oq demai^. Similar notes Issued to the Intematlcoial Bank and outetandli^ 19U7-19l»9
are Included under "Other."
Includes saTlnga stampe, excess profits tax refund bonds, curreiKy
Items, and notes Issued to the Intematlcmal Bank (see footnote U).
For cinrent month detail, see "Statutory Debt limitation," Table 2.
Interest-Bearlng Public Debt
(la Billions of dollars)
-
.
,
,
-
20
Treasury Bulletin
DEBT OUTSTAHDING PND TREASUEJ^^'S ACCOURT
Table 3.- Special Issues to United States Government Investment Accounts
(In
Federal
Depoelt
Insurance
Corpora
tlOQ
End of flecol
year or ooth
19^8
30,211
32,776
32,356
191*9
1950
1951
1952
3l*,653
37,739
1953
195^
1955
1*0,538
1*2,229
1*3,250
1951* -December..
51*9
666
808
868
888
81*6
892
835
Federal
Federal
Old -Age
hcoBe
and
loan
banks
SarvlTore
Inaurance
Trust Fund
37
117
119
77
50
7,709
9,003
mlUlons of dollara)
Federal'
SaTinga
and Loan
Insurance
Corporation
71*
Government
employ eee *
retirement
funds
2,823
3,270
3,817
GoTemment
Life
Insurance
Fund
national
Service
Life
Insurance
Fund
Postal
Savings
System
1/
Eallroad
Satire
ment
Accotmt
1,371*
7,500
1,720
2,058
7,31*0
7
6,616
7,266
6
2,1.11.
2,863
7,71*5
9
6,935
7,288
5,011*
5,191
1,912
1,952
1,802
706
552
5,602
1,299
5,21*9
1*52
3,128
8,287
32
£
3,31*5
3,1*86
8,021*
21.
i
7,1*79
79
11*, 01*7
50
232
15,532
61
17,051*
81*
5,851*
1,231*
5,272
200
18,239
91*
6,168
1,233
5,31*6
213
91
12,096
Other
2/
1,286
1,318
1,292
1,300
1,300
95
79
86
79
10,1*18
Tbemplof-
mont
Trust
Pond
i*,391
5,31*2
5,1*36
11
13
860
263
17,577
91
5.918
1,216
5,21*2
16I*
3,370
7,775
91
1*3
,31*0
833
11*5
13,1*66
81.
6,11*5
5,31*0
831
85
81*
1*3,891
832
67
18,905
18,635
6,379
6,393
3,1*87
3,1*35
7,508
7,726
7,660
80
,238
71
U6
3,U*1
1*1*
1,226
1,221
1,219
1*3,657
83I*
6,U52
6,U57
5,368
5,36U
26
3,1*56
3,1*91
3,1*99
7,618
7,779
7,789
91*
1*3,926
1,215
1,212
1,207
72
December..
ee8
667
88
91
5,371*
M*,013
67
67
18,1*07
Roreaaber.,
6,U55
l,20l|
1,200
1,196
5,360
5,355
3,1*62
6,1*1*9
7,671
7,678
7,539
97
107
108
1955-Julj
AvgUBt,,,,
September.
October,
1956->Toiiuar7 .
.
1*2,566
Febniflry.
1*3,585
1*3,688
735
739
March.....
1*3,736
71*0
,
61*
18,586
18,663
53
18,1*35
50
50
18,506
18,682
86
93
97
98
100
Source: L&llj Treasxzr? etatement.
1/ Includes Canal Zone Poetal Savings System.
2/ ConelstB of Adjusted Service Certificate Fund, various houalng Inaurance
6,1*33
6,1*61*
5,390
5,381
5,31*3
1.6
1*2
18
6
6
3,502
3,509
funis. Farm Tenant Mortga^ Insurance Fund, and Veterans' Special
Insurance Fund.
Table 4.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts In Billione)
85
87
98
97
Tem
1
May 19%
21
DEEfT
OUrSTAHDIBG AKD TREASURER'S ACCOUNT
Table 5.- Treasury Holdings of Securities Issued by Government
Corporations and Other Agencies i/
(in mllUons of dollars)
BqportBid of
fiscal
year or
CcBSnodity Ijuport
Federal
ITatlcaial
Bousisg
ReconInternational Public
ajsd Ecme
struction
Housing
Finance Cooperation
Finance
MmlnistraAdmlnlaMmlnlBCorporation
tratlon
trator
tion 6/
Credit
Corporation
Bank of
V\0
1,669
3,193
2,555
1,970
971
91U
i,ouo
1,088
2,038
3,632
1,227
2,1*1)6
67
I.,l80
1,31*7
1955
12,325
12,869
16,175
7,608
1,310
2,233
1,966
102
130
1,189
1,203
1,209
195U-Deo..
1U,510
5,532
1,351*
2,1*1*9
llU
1,208
1955 ^uly.
Aug..
Sept.
l6,3Wi
17,188
17,Wt9
7,61»0
1,983
1,979
1,967
131*
8,730
1,285
1,285
1,272
1,209
1,210
1,210
Oct..
Hot..
17,9lt2
1,270
1,271
1,268
1,987
1,997
2,002
1,210
1,210
1,211
58
61
lB,61i5
9,085
9,389
9,875
lUU
Dec.
1956 -Jan..
Feb..
Mar..
18,938
18,921
19,239
10,076
10,130
10,383
1,225
1,229
1,223
2,028
1,939
1,935
151*
1,212
1,212
1,212
71*
month
i^&
2,789
6,851
19''9
1950
1951
1952
8,1423
9,027
1953
195lt
18,292
8,1*78
Morteafio
Washln^t<ii Aasocla-
tlon i/
2/
96I.
1,51*9
^
1
30
1*1*
131.
lUl*
171*
151*
155
165
782
96U
1,097
1,150
Source: Dallj Treasury statement.
1/ llie seCTirltles shown In this table v«rB issued to the Treasuiy to
finance GoTennent corporations and other agenoies with the Treasury
Itself ralsli^ the necessary funds through public debt operations.
To avoid duplication, these securities are not l«:luded In the
guaranteed debt outstanding as shown In preceding tables.
2/ Excludes securities issu^ under Defense Production Act.
3/ Rran September 1950 through J»ily 1951*, consists of notes of the
Hoxslng and Hiaae Finance Administrator, issued to borrow for the
Association. Beginning August I95I*, oonsista of liabilities ta3»n
orrer by the Association f^xDi the Administrator in accordance with
Public Law 560, approved August 2, 195I*, and notes lssi»d by the
Association imder authority of that act; and beginning September
I95I*, also secxiritles transferred frcBl the IleconstructlcEi Finance
Corporation (see footnote 6). Prior to September 1950, the Association was financed frcan funds of the Reconstruction Finance
Corporation, which owned the capital stock.
Consists of notes Issued to borrow for the urban renewal program
( f omierly slun clearance program] ; the prefabricated housii^ loans
program frcn September 1950, when It was transferred from the Reconstruction Finance Corporation, through November 1951*; and housing
loans for educational institutions beginning July 1951. Notes issued
to borrow for the Federal National Mortgage Association are shown unier
the Association.
Established In the Departaient of State by Executive Order No. IO610,
dated May 9, 1955, and effective at tile close of business June 30, 1955,
aa successor to the Foreign Operations Administration. Data for earlier
periods are for predecessor agencies.
6/ Excludes securities Issued under Defense Production Act of 1950; includes securities issued under Federal Civil Defense Act of 1950
Bnral
ELectriflcatlon
Admlnlatratlon
Tie
1,015
1,281
1,527
1,731
Secretary of
Agriculture
lAider
Tennessee
Valley
Authority
1/
Veterans'
direct
loan
program
362
337
i,e^
31*9
1,1*56
U89
655
271*
655
215
61
159
1,933
151*
2,091
2,207
117
172
162
29
270
367
11*
1*91
90
2,1^5
166
lU
61*
2,267
2,267
2,267
187
187
187
lU
2,312
2,312
2,276
2,321
2,321
2,321
86
61
50
53
68
yj
y
2/
10/
197
65
58
78
Defense
Other
Production
2/
Act of
195C 8/
51.
21*1*
52
226
100
100
1*9
1*1*
39
31*
107
178
158
395
1»16
773
1,002
2
16
1*32
991
16
1*91
537
1,052
1,053
1,056
17
18
18
212
212
lUl
537
537
537
1,109
1,109
1,132
19
19
19
176
211
208
537
537
1,116
1,116
1,119
20
20
20
1*91
58I*
through Ncrroinber 1953, after irtilch they were talcen orer "by the
Secretary of the Treasury, pursuant to the act approved July 30, 1953
(67 Stat, 230), and are Included under "Other," I>unr« September
195^, under Reorganization Plan No. 2 of 195^, the remaining secin^tles Issued hy the Corporation to the Tbi^asury were transferred aa
follows: %k2 million to Export -Bi^xjrt Bank of Washington, $92 million
to Federal National Mortgage Association, and $lU million to '^!»^n
Business Administration.
For Faimera' Hcsie Administration program,
Conslste of notes of the Administrator, General Services Administration beginning Januaiy 1951 (Administrator, Defense Materials Procurement Agency, January I952 through July 1953) for defense materials
procurement; Reconstruction Finance Corporation, January 1951 through
September 1953 (after which its activities under this act were transferred to the Secretary of the Treasiay), and the Secretary of the
Treasury beginning October 1953; the Secretary of the Interior
(Defense Minerals Exploration Administration) beginning June 1951; the
Export-Import Bank of Washington beginning April 1952; and the
Secretary of Agricultxire beginning June 195^.
Consists of notes issued by Federal Feurm Mortgage Corporation and
Hotne Owners' Loan Corporation prior to 1950, Virgin Islands Company,
I9U8-U9, Secretary of the Arnjy (Natural Fibers Revolving Finid)>
I9U9-5I, Secretary of the Treasury beginning 1953 (see footnote 6), aal
'^wt'i Business Administration beginning September 195^; am revenue
bondB issued by Saint Lawrence Seaway Developnent Corporation, beginning November 195''-.
Notes outstanding In tJie aii»unt of $9,365 million, Including interest,
were canceled on June 30, 19I+B (62 Stat, II87).
22
Treasury Bulletin
DEBT OOTSTAHDING AND TREASURER'S ACCOUNT
Table 6.- Statue of the Account of the Treasurer of the United States
I
May 19%
23
STATUTORY DEBT LIMITATION
31 U.3.C.
The Second Liberty Bond Act, as amended
Issued
obligations
face
amount
of
providee
that
the
757 b),
under authority of that act, and the face amount of
obligations guaranteed as to principal and Interest by
except that this amount was Increased by $6 billion beginning on August 2S, 1954, and ending on June 30, I956,
by acts approved August 28, 195U-, anc. June 30, I955.
Obligations Issued on a discount basis, and subject to
the United States (except guaranteed obligations held by
the Secretary of the Treasury), shall not exceed In the
redemption prior to maturity at the option of the owner,
aggregate |275 billion outstanding at any one time,
redemption values.
(
are Included In the statutory debt limitation at current
Table 1.- Status under Limitation, March 31, 1956
(In mllHcois of dollars}
Maxljmm amount of securities which ma^r be outetandlng at any one tine, under lljiiitatlon Imposed by the act
of June 26, 19l»6 (31 U.S.C. 757 b), as Increased temporarily by the acts of August 28, 195U, and June 30, 1955
281,000
Amount of securities outstanding subject to such statutory debt limitation:
U. S.
GoTemment securltlee issued under the Second Liberty BoMl Act,
as amended
275,876
Guaranteed securities (excluding those held by the Treasury)
59
Total amount of securities outstanding subject to statutory debt limitation
275*935
Balance iasuable under limitation
Source:
5,065
Bureau of the Public Debt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding March 31, 1956
(In millions of dollars)
Claae of security
Subject to
statutory debt
limitation
Not subject to
statutory debt
limitation
Total
outs'ifcndln^
Public debt:
Interest-bearing securities:
Marketable
Treasxiry bills
Certificate of indebtedness.
Treasury notes
Treasury bonds
Panama Canal bonds ..........
Total marketable
Nonmarketable
U. S. savings bonds (current redemption value).
Treasury savings notes
Depositary bonis
Treasury bonds, investment series
TotaZ nonmarketable
Special issues to Government agencies and trust funds.
Total interest-bearing securities
N5atured securities on which interest has ceased
Debt bearing no interest:
United States eavinge stamps
Excess profits tax refund bonds
Special notes of the United States:
International Monetary Fund Series
TJhited States notes ( less gold reserve
DepoBits for retirement of national bank and Federal Reserve Bank notes.
Other debt bearing no interest
Total debt bearing no interest.
Total public debt
Guaranteed securities:
159,'<6l
50
20,813
20,759
36,036
81,852
50
50
159,510
57,727
336
12,161
57,727
11
336
12,161
70,236
70,236
US, 736
"•3,736
U
273, '•32
50
273, '•81
720
725
51
51
1
1
1,672
1,672
191
191
218
6
218
6
l,72'i
1H5
2,138
275,876
I469
276,31*5
1/
Interest-bearing.
Matured
Total guaranteed securities
Total public debt and guaranteed securities.
Source:
20,813
20,759
36,036
81,852
Bureau of the Public Debt.
57
2
57
2
59
59
U69
275,935
1/ Excludes guaranteed securities
heW
by the Ir^'izvxy.
276,l(0li
2U-
Treasury Bulletin
.DraT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding March 31, 1956
(In millions of dollars)
Maij
19%
25
.DKBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-BearlnK Public Marketable Securities
Issued by the United States Government
and Outstanding March 31, 1956 - (Continued)
{In minionB of dollare)
1
1
3
26
Treasury Bulletin
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
(Dollar amounts In jnllllonfl)
Description of nev ieaue
Number of
days to
maturity
Maturity
date
Amount of
bldB
tendered
Amount of bids accepted
Total
amount
On competitive basis
On noncompetitive baa la l/
In
exchange
Amount
maturing on
Issue date
of new
offering
Total immatured leauBS
outstanding
after nev
Issues
fiseular 3eriea:
1955- Nov.
Hot.
Nov.
Hov.
Dec.
Dec.
Dec.
Dec.
Dec.
3
10
17
25
1
3
15
22
29
1956- Feb.
Feb.
Feb.
Feb.
Mar.
Mar.
Mar.
Kar.
Mar.
195t-Jan.
Jan.
Jan.
Jan.
26
Apr.
Apr.
Apr.
Apr.
Feb.
Feb.
F6b.
Feb.
2
5
If
23
May
May
May
May
Mar.
Mar.
Mar.
Mar.
Mar.
1
Apr.
Apr.
Apr.
Apr.
5
12
19
8
15
22
29
5 P
12 p
19 p
26 p
.^tlclpatlon Gerlea
1955-Deo. 15
2.
9.
16.
23.
May
June
June
June
June
July
July
July
July
5.
12.
19.
26.
3.
10.
17.
21*.
31.
7.
11*.
21.
28.
5.
12.
19.
26.
91
91
91
90
2,1*29.1
2,222.1*
2,320.1*
2,17l*.l
1,602.2
1,599.7
1,600.2
1,600.1
1,359.9
1,361.7
1,378.6
1,369.0
21*2.3
153.1*
238.1
221.6
£31.1
63.5
32.1
62.7
91
91
91
91
91
2,213.7
2,155.0
2,510.0
2,307.5
1,601.2
1,600.1
1,601.1
1,600.9
1,602.9
1,387.2
1,377.1
1,363.3
1,351.8
211*.
99.1*
1,1*07.2
195.8
91
91
91
91
2,1*59.9
2,1*92.8
1,601.9
1,600.5
1,601.6
1,600.8
1,388.0
1,329.7
1,315.6
21l(.0
1,31*5.3
255.1*
1,600.5
1,600.3
1,600.1
1,601.3
1,371*. 1*
226.1
230.3
206.9
2,1*06.7
2,686.1
2,596.0
l,tj00.2
20,813.0
20,812.2
20,811.8
20,811.7
52.0
39.7
27.5
217.3
1,600.0
1,602.0
1,602.3
1,601.0
1,600.8
20,312.9
20,311.0
20,809.8
20,809.7
20.811.9
26.9
28.5
32.1
36.9
1,600.1
1,600.7
1,600.9
1,601.7
20,813.3
20,813.6
1,602.2
1,599.7
1,600.2
1,600.1
20,811.7
21*1.1*
139.9
65.0
28.6
97.6
1,600.1
1,600.2
1,600.6
1,386.0
1,380.8
1,352.9
218.5
219.3
I0U.3
31.1
21*7.3
l*l*.l*
1,311'.7
286.0
1,600.1*
1,358.1
21*2.3
82.1*
128.1*
1,601.2
1,600.1
1,601.1
1,600.9
1,602.9
20,817.1
20,817.0
20,816.1
20,815.8
20,813.2
21*0.1
30.3
36.2
36.9
32.2
1,601.9
1,600.5
1,601.6
1,600.8
20,311.1*
223.1
237.7
21*9.1
270.8
286.0
91
91
91
91
2,31*7.2
2,1*13.3
91
91
91
91
91
2,592.7
2,156.0
91
91
91
91
2,178.1*
2,1*71.5
2,339-0
2,527.0
1,600.1
1,601.2
1,600.0
1,601.5
1,359.3
1,323.3
1,317.5
1,333.1*
277.9
282.5
268.2
99
11,130.2
1,501.1*
1,11*8.3
353.1
2,389.1
2,1*50.1
2,l*2l*.l*
2,762.7
2,566.0
l,6ol*.l*
1,370.5
1,393.1
1,359.9
Taa:
1,600.7
1,600.5
1,600.6
20,811*.
20,813.1*
20, 812. B
20,812.6
20,813.9
20,812.1
20,810.5
20,8U.2
May
27
1956
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Date
Treasury Bulletin
2S
.DEBfT
OPKFATIONS,
Footnotes to Table 3
1/
2/
i/
k/
^
6/
2/
8/
Coaalete of all public caali subscript Ions and aubacrlptlooe by
United States Govemaent inveatment accounte.
Nonbank eubecrlptlons were allotted in full. Consnerclal banlcs'
eubacrlptions for amounte up to and Including $100,000 for their
own account also were allotted In full. Commercial bemka* eubacrlptions for amounta over $100,000 for their own account were
allotted $100,000 on each aubecrlptlon.
The 2% certificates dated August 15, 1952, were reopened with
all certificates of the aeries Identical in all respects, as an
exchange offering for the l-T/8^ certificates which matured
December 1, 1952. Total exchangee In the two offerings amounted
to $2,882 million.
Exchange offering available to owners of nonmarketable 2-3A^
Treasury BorxLs, Inveataent Series B-1975-80, dated April 1, 1951.
For further Information on the original offering see "Treasury
BuU^'tln" for April 1951 . paee A-1. Amounts ahown are aa of
April 30, 1956.
Amo^jnt shown Includes exchangee by Federal Reaerre System Open
Market Account amounting to $71^ million.
The 2-1/2^ bonde dated February 15, 1953, vero reopened with all
the bonds of the series Identical In all respects, aa an exchange
offering for the 2-l/8^ notes which matured December 1, 1953.
Total exchangee In the two offerings amounted to $2,368 million.
Holdei*s of the I-7/856 certificates which matured February 15, 1953,
were offered a choice of exchanging the aecurltlea for either the
cme-year certlflcatea or the flve-yem-, ten-month bonde,
The boai offering was made available for exchange of Series F and G
savings bonds maturing from May 1 through December 31, 1953
Total allotanente on cash aubecrlptlons were limited to approximately
$1,000 million. Nonbank aubecriptlone In amoiinta up to and Incliaiing
$5,000 were allotted In full. AH other aubscriptiona were allotted
20 percent. Ccnnnercial banka* subscriptions were restricted to an
amount not exceeding 5 percent of their time deposits aa of
December 31, 1952. The Treasuiy also reserved the right to allot
limited anKJunts of these bonde to Government inveslaBent accounts,
irtilch subscribed to a total aajount of $ll8 million.
Also designated tax anticipation certificates, acceptable at par plus
accrxied interest to maturity In payment of inconie and proflte taxes
due March 15, 195^Subecrlptlons for amounta up to and including $100,000 were allotted
full. Subscriptions for amounta over $100,000 were allotted 67
percent but In no case less than $100,000,
Holders of the 2^ boMs which matured September 15, 1953, were offered
a choice of exchanging the securities for either the one-year certificates or the three-and -one-half -year notes.
Subscriptions for amounts up to and including $10,000 wore allotted in
Subscriptions from mutiial savings banks, insurance companies,
full.
pension and retirement funds, and State and local governments were
allotted 2U percent. All others, Including connerclal banks, were
allotted 16 percent but not leas than $10,000 on any one subacription,
Holders of the 2-l/B^ notes maturing December 1, 1953, were offered
a choice of exchanging the securities for either the twelve-and-onehall-month notes or the five-year, ten-month bonds.
Holders of the 2-lA^ certlflcatea lAlch matured February 15, 195^,
and the 1-3/8^ notes maturing March 15, 195^, were offered a choice
of exchanging the_ secxirltiee on February 15, 195**, for either the
one-year certificates or the seven-year, nlne-mcmth bonds. In addition, holders of the 2^ bonda maturing June 15, 195^, ond. two
issues of 2-l/U^6 booids called for reden^rtlon on June 15, 195**, vere
given an opportunity to exchange their holdings on Februaiy 15, 195**,
for the 2-1/2^ bonds.
Subscriptlcma for amounta up to and Incluilng $10,000 were allotted
in full. All other subacrlptlana were allotted 22 percent but In no
case leas than $10,000.
Holders of the 2-5/8$ certificates maturing June 1, 195^, were offered
a choice of exchanging the securities on May 17, 195**, for either the
one-year certificates or the four-year, nine-month notes.
AIbo designated tax anticipation certificates, acceptable at ^pax plus
accrued Interest to mat\n*lty In payment of income and profits taxes
due March 15, 1955.
Subscriptions for amounts up to and Including $50,000 were allotted
In full.
Subacriptlons for amounta over $50,000 were allotted
ho percent but In no case less than $50,000.
The 1-1/8$ certificates dated August 15, 195^*, were reopened with
all the certificates of the series Identical in all respects, as an
exchange offering for the 1-7/8$ notes which matiired December 15,
195^, the 2$ bonds ^*ich matured Deceisber 15, 195^. and the 2$ bands
21/
22/
23/
24/
25/
26/
•
2/
10/
i3j/
2^
ii/
V*/
l^
16/
17/
18/
19/
20/
m
2jJ
28/
gg/
30/
31/
32/
33/
34/
^
36/
^7/
p
which were called for redemption on December I5, 195^*. Total exchanges in the two offerings amounted to $8,U77 mlllian,
Holders of the 2-5/8$ certificates, maturing August 15, 1954, er^
the 2-5/8$ certificates, maturing September 15, 1954, were offered a
choice of exchanging the securities on August 15, 1954, for either
the one-yeeur certificates or the six -year, three-month boaie.
Subscriptions for amounta up to and including $50,000 were allotted
in full. Subacriptlons for amounts over $50,000 were allotted 50
percent but In no case leea than $50,000.
Holders of the 1-7/8$ notes maturing December 15, 1954, the 2$ bonis
maturing December 15, 1954, and the 2$ bonds called for redemption
on December 15, 1954, were offered a choice of exchanging the securities for either the 1-1/8$ certificates, the l-l/4$ certificates, or
the 2-1/2$ bonis.
The 3$ bonds dated February 15, 1955, were reopened with all the
bonds of the series identical In all respects, aa an additional cash
offering on July 11, 1955. The total amount Issued In the two
operations was $2,745 million.
Holders of the 1-5/8$ certificates maturing February 15, 1955, and
the 1-1/2$ notes maturing March 15, 1955, were offered a choice of
exchanging the aecurltlea on February 15, 1955, for either the oneyear, one-mcmth notes or the two-^ear, six-month notes. At the
same time holders of the 2-7/8$ bonds of 1955-60, called for
redemption on March 15, 1955, were offered a choice of exchanging
the securltiee en February 15, 1955, for either the one-year, onemonth notes or the forty-year bonds.
Also designated tax anticipatico certificates, acceptable at par plus
accrued Interest to maturity in payment of Income and profits taxes
due June 15, 1955.
The 2$ notes dated May 17, 1955, were reopened with all the notes of
the series identical in all respects, as an exchange offering for the
1-1/8$ certificates maturing August 15, 1955- Total exohanges In the
two offerings amounted to $10,015 million.
Cash subscriptions for $100,000 or less were allotted In full. Subscriptions for more than $100,000 were allotted 62 percent but in no
case less than $100,000.
Also designated tax anticipation certlflcatea, acceptable at per plus
accrued interest to maturity in payment of Income and profits taxes
due March 15, 1956.
Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 19 percent but In no case
less than $100,000.
Subscriptions from savings-type investors totaled $749 million and
were allotted 65 percent. Subecrlptlona from all other investors
totaled $970 Billico and were allotted 30 percent. Subscriptions
for $25,000 or lees were allotted In full. Subscriptions for more
than $25,000 were allotted not less than $25,000. In addition to the
Bttjunt allotted to the public, $£5 million of the bonds were allotted
to Government Investment accoiaits. Savings-type investors were given
the privilege of deferring payment for the bonds, provided that not
less than 25 percent of the bonis allotted were paid for by July 20,
1955, not less than 60 percent by September 1, 1955, and full payment
by October 3, 1955.
Also designated tax anticipation certificatee, acceptable at par plus
accrued interest to maturity In payment of Income and profits taxes
due June 15, 1956.
Holders of the 1-1/8$ certificates ^ich matured August I5, 1955, ware
offered a choice of exchanging the securities on August 1, 1955, for
either the ten-ond-one-half-month certificates or the one-year, threemonth notes.
Subscriptions for $100,000 or lass were allotted In full. Subscriptions for more than $100,000 were allotted 32 percent but in no case
less than $100,000,
The 2-7/8$ notes dated December 1, 1955, were reopei»d with all the
notes of the series identical In all reepecta, as a partial exchange
offering for the 1-5/8$ notes maturing March 15, 1956. Total exchanges In the two offerings amounted to $4,392 million,
Holders of the l-lA$ certificates and 1-3A$ notes, both maturing
December 15, 1955, wore offered a choice of exchanging the eecxirltles
en December 1, 1955, for either the cme-year certificates or the twoand»c»e-half-year notes.
Holders of the 1-5/8$ notes maturing March I5, 1956. were offered a
choice of exchanging the securities on March 5, 195", for either the
eleven-and -half -month certificates or the two-and-one-half-year notea.
Holders of the l-l/2$ notes maturing April 1, 1956, were pemltted to
exchange their securltiee only for the certificates,
Pre 11ml naiy.
May
mo
29
.DEBT OPERATIONS.
Table 4.- Allotiients by Investor Classes on Subscriptions for Marketable Issues of Treasury
bonds, Notes, and Certificates of Indebtedness i/
(Amounts In millions of dollars)
leeue
30
Treasury Bulletin
.DEBT OPERATIONS.
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
May 19%
31
.DEBT OPERATIONS.
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
-
(Continued}
Treasury Bulletin
32
.UNITED STATES SAVINGS BONDS.
United States eavlnge bonds were first offered In
March 1935 and began to mature In March 19'*5. Series A-D
were sold between March 1935 SI'S the end of April ig"*!,
and Series
E,
F,
and
were first offered In May ig^l.
When Series E began to mature on May
1,
1951 • owners of
To redeem
the matured bonds were offered three options:
details of these changes see "Treasury Bulletin" for
May 1952, page A-1. Series F and
began to mature on
^°^ the exchange offering made to holders
1, 1953of these bonds maturing through December Jl, 1953, see
May
the May 1953 issue,
page A-1.
The Treasury Invited
holders of Series F and G which began to mature In Janueiry
the bonds In cash In accordance with the original terms;
195"* to
reinvest the proceeds In other series of savings
to retain them with an extended maturity of 10 years at
bonds.
In the tables which follow,
specified rates of interest accrual; or to exchange them
for Series G bonds.
May
1,
1952.
A number of changes became effective
The principal ones were:
Interest accrual on Series E was Increased,
The rate of
especially for
the near term, with corresponding changes In extended
Series E; and Series F and
were replaced by two new
Issues, Series J and K, also at higher Interest rates.
A new current-Income bond. Series H, similar In Interest
return to Series
E,
was offered beginning June 1.
Series A-F and J sales
are Included at Issue price and total redemptions and
amounts outstanding at current redemption values.
Series G,
H,
and K are Included at face value throughout.
Matured
bonds which have been redeemed are Included In redemptions.
Matured F and
bonds outstanding are Included In the
Interest-bearing debt until all bonds of the annual series
have matured, when they are transferred to matured debt
upon which Interest has ceased.
For
Table 1.- Sales and Redemptions by Series. Cumulative through March 31, 1956
(Dollar anouatG in mlUlons)
May
mb
33
.UNITED STATES SAVDKIS BONDS.
Table 3.- Salee and Redemptions by Periods, Series E through K
(In nlllloDs of dollara)
Aoorued
discount
Period
Bede^>tiGaa
Bales plus
aoonied
disoount
^
Sales
prloe kj a/
Series E and B conbined
ABDunt outstanding
Accrued
discount
^
Interest-bearing
debt
Fiscal years:
iglJl-lS^S
19^9
1950
1951
1952
1953
1954 6/
J955 6/
50,1*26
2,021
U,278
3,993
3,272
3,296
753
l*,06l
'',653
5,225
5e,W»7
5,032
20,822
3,530
3,521
It, 295
It ,008
It, 038
20,1*88
33lt
162
195
307
It25
Itll*
6,3'»8
it,5li4
3,368
3,326
3,987
3,583
3,538
3,791
3,909
2,39*
818
971
5^,838
5,025
22,61l9
22,235
3,itJt8
3,27lt
I7I1
l.OfiO
'•,270
i»,69U
It,
5, "•96
11,157
6,015
li,iil|lt
3,667
3,688
3,622
3,625
3,909
2lt5
6,1.81
".,652
3,9lt9
895
1,035
1,111
1,120
1,126
1,123
i»,887
It, 307
U,U07
5,181
5,779
It, 3115
31.625
33,127
3it,lt9lt
3lt,506
34,905
500
36,Olt8
55lt
37,482
39,285
636
Calendar years:
I9l»l-19'»8
U,208
3,668
3,190
3,575
19'>9
1950
1951
1952
1953
195*
1955
5,368
1,120
1,128
1,126
1,113
•39
no
'•,368
I*
,639
3,912
lt,036
098
3lt8
476
531
53'
7oe
32,188
33,766
34,493
34,727
35,324
36,663
38,233
40,063
Wonths:
1955^ulr
5"48
itoe
352
1*39
81
399
393
50
56
82
520
U96
31*3
I.II1
339
53
UoU
395
1(25
1.8U
5lt0
358
358
383
305
310
331
ue
December.,
78
89
115
1*83
Woreanber,
1956 -January.,,
February .
March
111
bk
681»
1*50
1(76
395
303
65
8J.
560
9*9
368
U65
1*00
31.3
57
Aieust.,..
September,
October,
.
572
Series F, G, J, and E combined
Fiscal years:
1941-19lt8
21,463
>,863
_,68o
1,871
629
501
841
1,249
1949
1950
1951
1952
1953
1954 6/
1955 6/
Calendar years:
1941-1948
1949
1950
1951
1952
1953
1954
23,367
1,626
2,4o6
770
586
432
1,284
907
W55
Montts:
1955-Julj
AugUBt. ...
September,
55
48
48
October, ,
WoTember.
December..
47
1956 -Jan uai7.,.
February ,
March. ..
72
.
43
41
68
53
172
53
52
55
39,432
39,553
39,656
39,780
39,906
40,063
40,296
40,488
40,637
Matured debt
, ..
.
:
Tr
reasury Bullet III
3'^
.UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions by Periods, Series E through K
(Continued)
(in iiLlllloas of dollare)
Accrued
dlBCOUDt
Sales plus
accrued
discount
Redeaptlons 2/ l/
Total
Sales
price k/ 2/
Accrued
discount
^
Amount outstanding (interestbearing debt)
Fiscal jears:
19'il-19't8.
191*9
1950
1951
1952
1953
19^
1955
50,it26
2,021
',278
3,993
3,272
3,266
3,700
3,988
It,
095
753
895
1,035
1,111
1,120
1,126
1,123
52,U47
5,032
20,862
3,530
3,521
I*,
295
20,1*88
331*
162
195
307
1«,008
1*,032
l»,319
3,368
3,326
3,987
3,583
3,532
3,765
lt,li90
3,851*
5^1,838
22,61*9
22,235
5,025
3,1*1*8
3,271*
17"*
33 ,766
lt,639
3,912
4,036
3,667
3,688
3,622
3,609
3.871
3.870
21*5
31* ,1*93
31*8
31*,
1*76
35,11*3
531
535
702
36,036
36,778
37,510
53
37,236
37,279
37,307
i*,887
l>,307
'',377
821
5,Ult
5,218
It,
31,625
33,127
311,1*91*
31*,
506
1*25
31*, 875
500
551*
35,661*
36,1*58
636
37,186
Ull*
32,188
Calendar /ears:
52, It 51*
2,38i>
19it9
l»,208
1950
1951
1952
1953
3,668
3,190
3,393
3,906
1951*
11,023
818
971
1,080
1,120
1,128
1,126
1955
U.I92
l,li3
5,301*
1*,572
1955-July
August....
September.
335
353
331
110
IA5
50
U3'*
1*13
335
331
56
82
395
391
385
31*5
81
October. ..
November..
December.
321
320
355
78
89
115
399
1*69
350
350
375
296
302
323
1)37
111
8k
3h
51*8
Wl
387
295
331
19'tl-19li8...
11,270
I*,
513
l*,098
5,031*
I*,
11*1
5,11*9
I*,
1*06
727
Months:
1956 -January . ,
February
March
376
.
3-ra
I1O9
1*60
U57
360
388
53
37,357
U8
37,'*15
52
37,510
55
37,617
37,717
37,786
65
57
Series K 2/
Fiscal years:
1952
1953
,
1951*
,
1955
30
360
665
1,130
30
360
665
1,130
6
30
385
26
55
6
26
55
2,099
16
16
181
627
38
38
79
2,553
1,021*
Calendar years
1952
1953
1951*
1955
,
182
182
1*62
1*62
866
1,177
866
1,177
79
1,1*55
Months:
103
103
2,195
August.
September
87
87
83
2,271.
October.
November.
December.
83
75
71
83
75
1956 -January..
February.
March
135
100
92
135
100
92
1955-Julj'
.
Sf>urc6:
83
Dally Treasury atatoment; Bureau of the Public Debt-
2,31*9
8
8
2,1*90
2,1*21*
8
2,553
9
9
8
8
12
12
2,679
2,771
?,851
71
Footnotea at end of Table U.
May 19%
35
.UlflTED 3TAIES SAVINGS BONDS.
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In allllons of dollara)
Unnatured bonde
Hfttured bonda
Period 8/
Total
aatured 2/
Series
A-D
For
caah
Flacal yeara:
1951
1952
1953
195^
1955
6,137
5,109
5,621
6,515
7,251
817
792
1,761
5,940
5,651
5,07lt
6,1U9
6,985
7,301
l,'t87
l,i>86
3,9U
ll»
i,as6
1,825
987
772
1,015
2,318
3,171
987
'•,230
Months:
1955^ul7
37
1,126
2,71*7
Calendar years:
1950
1951
1952
1953
195^
1955
38
7oe
1,128
779
90
31
18
589
5^3
722
25I1
August . . .
September,
October,,
Norember,.
December,,
57U
526
5^5
380
288
265
1956 -January,,,
February
March.. ,
1,126
660
60U
611
27U
307
326
393
69't
In exchange
for Serlea C
and E
Serlea
F sod G
Total
unnatured
Saloe
price
ii/
Accrued
discount
!
:
,
.,
36
Treasury Bulletin
.UNITED STATES SAVINGS BONDS.
Table 5.- Sales and Redemptions by Denominations, Series E and HI/ Combined
(in tbousozuLa of pieces)
Total, aU
denaalnatlons
P»rlod
19lH-ii7
1,U9,078
igW
19*9
1930
1951
58,971
64,576
6*, 30*
6*, 299
1952
1953
195* 6/
1955 6/.
80,*85
85,*19
85,3*2
»10 2/
19,823
522
39*
335
1
7* ,136
»25
»50
$100
$200 2/
781,680
36,1U6
39,*00
39,150
*1,751
163,25*
9,901
50,701
5*, 380
56,903
55,16*
13,129
1*,372
15,686
16,37*
799,913
37,659
39,572
39,050
*5,«6l
168,088
12,1*8
126,97*
8,2*6
8,688
8,253
7,*30
11,1*25
U,81»l
11,786
500
U.ooo
123,26*
7,777
8,550
8,65*
7.6*9
2,111
816
916
917
786
15,*63
1,571
1,569
1,036
2,238
2,322
1,995
1,290
7,559
720
79*
85*
88*
9*8
1,2*3
1,*11
1,578
1,076
1,*62
1,708
1,9*5
2,490
879
865
738
16,185
1,603
1,51*
1,257
951
1*,*16
2,352
2,213
1,703
1,139
726
1,01)2
81(3
1,3*2
1,*70
1,191
1,590
1,809
1,980
8,2U
8,810
9,315
1,1*13
$5,000
$10,000
y 2/
13, *8*
1
16
33
56
C(J.enAar yearg
19'tl-'i7
19lt8
1,1*8,1911
20,128
*35
371
1*1
19*9
1950
1951
61,813
65,118
62,929
68,069
1952
1953
195*
1955
77,271
8*,390
8*,972
87,316
52,808
56,7*3
55,850
55,618
13,773
15,235
15,912
17,323
7,721
8,606
9,006
9,7*8
6,950
7,263
7,2*2
*,397
*,621
*,565
1,390
1,*18
1,519
778
837
813
77
78
7,0*7
6,977
7,98*
*,*75
*,*09
5,132
1,*35
1,**1
1,63*
795
792
870
7*
8,503
7,216
7,857
5,230
*,*72
*,876
1,787
l,*8l
1,713
975
836
877
1,197,*5*
281,586
197,361
1
10,61(0
u,a25
U,660
933
862
916
1,61(8
8
22
*4
56
Monthe;
1955-Julj
August...,
September.,
October,
Not ember.
December.
.
.,
.,
.
1956 -January p.
February p,
March p...,
Inception to date p
1,763,6*7
21,076
ito
1*2
126
162
163
79
125
122
127
137
13*
138
9*
78
80
179
1*9
138
228
191
168
9,503
27,*79
28,980
3,308
1,115
1,077
1,069
1,351
2,557
1,004
1,035
1,088
1,291
1,106
1,109
1,177
73
73
1*1
144
Bedei^tloaa Jj
yiBoal yeara;
19*l-*7
19*8
19*9
1950
1951
558,*70
93,*38
79,6*6
76,109
82,875
U,67*
1952
1953
195* 6/
1955 6/
76,1*03
W3
81,983
90,387
89,7*9
313
263
3*9
607,597
85,888
76,933
79,176
77,202
12,8*9
1,595
1,217
835
5*9
*67,5l*0
80,1|20
375
282
277
2,052
1,369
1,017
701
71,680
1*,302
12,623
12,3*6
1*,13*
36,U9
265
9,387
8,*50
8,155
21*6
9,9U
1*66
12,662
13,535
15,08U
15,650
8,777
371
8,81*0
31*2
9,*80
9,91*
357
396
1,211
1,112
1,151
1,210
79,095
13,*70
12,28*
13,257
13,000
1*0,861*
59,265
52,996
53,087
51,552
378
273
3,8*6
1,13*
302
1,01*6
55,000
59,519
63,850
59,6*0
13,285
1*,191
15,6*3
15,887
*32,866
65,331
5*, 809
52,101
5*, 81*0
51,6*9
56,73*
62,91*1
61,0*9
281*
33*
1,*72
Calendar years!
19*l-*7
19*8
19*9
1950
1951
1952
1953
195*
1955
85,58e
92,3*0
88,700
Mentha
1955 -July
August. . , .
September..
li2lt
1*01*
1,220
1*20
1,2*1*
3,02*
1,065
1,025
1,292
1,359
8,991
9,038
9,858
9,8*2
356
3*7
1*5*
1,191
1,115
1,192
1,225
1,220
1,089
1,1*5
1,221
105
103
9,086
8,065
9,081
9,079
373
7,766
7,820
7,715
5,196
5,260
5,178
1,392
1,*21
1,*02
878
852
38
853
38
39
39
35
36
37
*,6o*
*,658
5,231
1,2*8
,,
6,865
6,9*7
7,665
1956-January p.,
FebruBl7 p,
Maroh p...,
8,120
6,700
7,*8l
*2
33
5,305
3*
1,296,139
18,512
,
,
October. .
November.
December.
..
.
Inception to date p
37
*0
U2
9*
9*
99
757
35
1,261*
752
1,370
780
*7
50
*,98l
1,*85
1,225
1,385
8ei
*2
*5
129
92
105
937,216
19*,20T
116,1*16
3,*53
13,538
l.,l*82
Bote: These figures are estimates, based on dally Treasury statement end
reports fran Ftodaral Keserve Banks and Bureau of the Public Debt.
i/ Sales of Series H bonds began en June 1, 1952; the denominations
authorized were $500, $1,000, $5,000, and $10,000.
2/ Sale was authorlted In June 19*4, to Armed Forces oily, and discontinued after Maroh 31, 1950.
Sales began In October 19*5.
Sales of $10,000 denomination Series E bonds were authorized on May 1,
1952.
961
T29
5/
2/
57
112
103
101
92
95
98
1*0
96
109
12,785
IncliideB s&lee and. redaaptlons of $100,000 deooatla&tian Serlee E bonds
which cure porchaseable only t^ tru£rt«eB of employeee* saTings pl*'^^
beglnnlBg April X9^h, and peracoial truBt accounts beglnnliie Januar;
1955.
See footnote 6 to Tables 2 and 3.
Includes exchanges of natured Series E bands for Series G bcods beginning May 1951 and for Series K bonds beglnnlne May 1952.
Lees than 500 pieces
Frelliolnary.
Maij
mi)
37
.TREASURY 3AVIJG3 NOTES.
Treasury tax and savings notes have been Issued as
follows:
Tax Series A from August 1, 19'*'1, through
June 22, igM-J; Tax Series B from August 1, \3^'l, through
September 12, V)^; Savings Series C (originally designated
Tax Series C) from September ih, V)^Z, through August 3I,
191*8; Savings Series D from September 1, 13^i, through
1951, through
May \)>r, 1953; Savings Series B from May 15, 1953, through
September 25, 1953; *"<! a new Savings Series C from
October 1, through October 23, I953, when sale of these
May
lli,
I95I; Savings Series A from May I5,
Similar Information with respect to the offering or the
earlier series was published currently In the "Treasury
Bulletin,"
and appears also In the "Annual Report of the
Secretary of the Treasury" for appropriate years.
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
Details concerning terms and
until all notes of the annual series have matured, when
conditions for purchase and redemption and Information on
they are transferred to matured debt upon which Interest
has ceased.
notes was suspended.
Investment yields of Savings Series
C
appear In the
October I953 Issue of the "Treasury Bulletin,"
page A-1.
Table 1.- Sales and Redemptions by Series, Cumulative through March 31, 1956
(In millions of dollars)
38
Treasury BuUetiii
.OWNEREBIP OF FEDERAL SECURITIES.
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(in Blllloaa of dollare)
.v<(i/
m<)
39
.OWNERSHIP OF FEDERAL SECURITIES.
Table 3.- EBiimated Ownerehlp of Federal Securities
(Far Talues 1/ - In bllllozu of dollars)
Held
Total
Federal
securltlee
outetandiBg 2/
Bid of
mon^
1>7
banks
Co
clal
banks
3/
1939 -December,
•
19l»0-Juile
December...
accouato k/
conipaaies
Sarlngs
Muti3&l
saTlngB
banlcB
'bonds
State and
Corpora- locaJ.
tlooe 6/ goremnents j/
Miscellaneous
InveetoTG
I8.1i
15.9
2.5
6.5
22.7
10.1
1.9
8.2
6.3
2.2
.1*
18.6
19.5
16.1
17.3
2.5
2.2
7.1
7.6
22.8
23.9
10.1
10.6
2.6
2.8
7.5
2.1
2.0
.u
7.8
6.5
6.9
21.8
23.7
19.7
25.0
31.0
11.2
13.6
7.6
8.2
7.1
8.2
2.0
.6
.7
21.1.
8.5
9.5
3.6
61«.3
It.O
.7
.9
10.6
12.2
37.7
53.0
17.8
23.7
9.1
8.7
9.2
I..9
.9
13.lt
10.3
11.3
I..5
10.1
1.0
1.1
2.3
67.0
81.7
30.9
37.6
19.2
11.7
12.9
13.1
15.1
5.3
12.9
1.5
3.1*
21..
6.1
16.1*
2.1
1*."*
31.2
36.2
ll>.9
17.3
19.6
7.3
8.3
20.2
3.2
21.1.
l*.3
6.1
7.0
22.7
9.6
10.7
23.3
22.2
5.3
6.5
9.1
19.9
17.8
6.7
6.5
.5
.7
.7
77.0
28.7
26.0
U2.5
'•7.3
H.l
lUO.8
170.1
59.''
52.2
59.9
7.2
1'..3
.
11.5
16.9
83.3
96.5
68.1.
II..9
W.l
77.7
18.8
19.1
21.7
100.2
.
202.6
232.1
UU.O
53.3
259.1
278.7
106.0
8I..2
21.8
21.
90.8
21..
27.0
59.1
64.1
1.0.7
U5.0
128.2
136.6
1.2.9
18.5
21.2
2T9.8
269.9
259.5
116.7
108.2
97.9
93.8
28.0
29.1
135.1
132.6
130.7
61..
1.3.3
20.8
2U.U
63.3
1.3.5
19.9
21*.
11.1
11.5
7"..
22.9
23.8
23.3
61..
W..2
20.1
21*.
U.8
15.3
6.3
8.9
8.6
8.1
258. li
70.0
68.7
21.9
22.6
32.8
66.6
65.7
1.5.5
1.6.2
21.1
21*
7.1
9.6
19.1*
23.9
12.1
12.0
13.7
3l..lt
133.7
131.3
11*.
7.3
8.1*
35.8
37.3
130.7
129.7
65.8
65.5
1.7.1
1.7.8
18.6
17.6
22.8
12.0
7.8
21.2
8.7
8.9
132.2
132.1
66.6
66.3
1.8.8
1.9.3
17.8
17.0
20.5
20.1
U.5
U.6
13.6
1U.8
11.1*
15.8
16.8
8.0
8.1
135.6
U'..9
67.lt
17.6
16.7
19.8
18.7
U.6
18.1.
66.3
1.9.9
1.9.6
10.9
19.7
8.7
8.8
132.9
131.8
61..
1.9.1
1.9.1
16.3
15.5
17.1
16.5
10.2
1.2.3
9.8
20.1
20.7
9.6
15.7
16.0
15.7
16.1
9.6
9.5
18.8
19.9
10.1.
17.1
16.0
16.0
15.8
9.5
9.2
18.1.
12.0
12.7
12.8
21.0
15.3
16.1.
13.9
13.8
13.7
13.9
lU.l
1I..3
13.9
13.9
1I..5
1I..2
December...
19'ilt-June
December.
Insurance
2.2
2.3
2.6
6.2
19li2-June
19U5-June
December.
IndlTlduftlB 5/
"•8.5
55.3
December...
19U3-June
December.
Federal
Eoeerre
Banks
1*7.6
50.9
ig^tl-June
Held V7 private nonbank Inrestore
U. S.
Governmen't
iQToetznent
,
. .
19k6-Febrmrj 2/
June
December....
,
19l»7-Jun6
71.5
8I..I.
.9
30.9
5.1.
17.1
2lt.0
8.3
.,
257.0
91.9
91.3
19U8-June
December....
252 .li
252.9
85.9
85.8
61..
21.1.
62.5
23.3
19lt9.june
252.8
257.2
82.1.
63.0
66.8
19.3
18.9
38.3
85.7
1950-June
December...
257.''
83.9
82.6
65.6
61.8
18.3
37.8
20.8
39.2
1951-Juiw
December...
255.3
259.5
81.1.
58.1.
61.6
23.0
23.8
H.O
85. li
1952 -June
December.
259.2
61..0
61.1
22.9
l.'t.3
130.8
61..8
1.9.0
..
267.1.
88.1
63.1.
2I1.7
1.5.9
133.1.
65.1
1.9.2
1953-June
December.
83.6
89.6
58.8
63.7
.7
1.7.6
25.9
1.8.3
135.0
137.3
66.3
65.
1*9.3
•
266.1
275.2
21.
.
88.7
63.6
69.2
25.0
''9.3
1.9.6
133.3
135.1
65.0
1*9.5
..
271.3
278.8
61..2
50.0
Vt'.2
15.0
9.1
8.8
278.5
278.2
92.6
90.6
87.8
68.7
66.9
23.9
23.6
23.6
1.9.1.
136.5
61..1.
136.1.
6I..9
11*.
1.9.1.
136.9
65.5
50.0
50.1
50.2
11*.
1.9.2
15.2
15.2
15.0
8.8
8.8
8.8
20.0
21.2
19.0
276.7
277.5
27U.U
89.1.
65.8
1.8.9
65.5
65.5
65.3
50.2
50.2
50.2
15.3
15.3
15.1
8.8
8.8
8.7
20.1
21.2
18.8
11..
lU.l*
6I..8
138.3
139.6
136.7
15.0
88.5
87.1
23.6
23.7
23.6
11*.
lU.l.
IA.7
lU.l.
277.6
87.9
21..
50.6
51.6
51.2
139.1
50.2
50.3
50.2
15.1*
1I4.9
15.0
15.0
20.8
20.6
15.0
15.1
15.1
15.0
15.5
15.8
8.8
8.8
8.7
19.8
IW.U
65.6
65.8
66.0
11.2.1
11.2.7
11.2.3
66.0
66.1
66.2
50.2
50.2
50.2
15.9
15.8
16.0
II..9
•31.9
15.3
15.2
22.5
22.2
15.1.
15.1*
15.1*
15.6
IW.5
66.3
50.3
1U.2
21. J.
11.5.1.
66.1.
50.1*
16.0
16.0
15.7
15.8
15,7
16.0
December..
December...
256.7
19511 -June
December..
1955-Januai7
February .
March
. .
27't.l
April
May
June
,
2/
^
V
^
63.5
1.9.5
50.5
278.I1
86.1.
.
277.5
85.9
86.8
85.9
86.8
62.7
61.6
62.0
2I..0
. .
279.9
280.2
280.8
21..
51.0
51.6
51.7
280.1
280.2
8I1.O
60.5
59.5
23.5
23.5
51.7
51.8
. .
1956-Januai7
February p..
X/
6U.2
21..9
63.8
62.7
62.1
July
August
September.
October
November .
December ,
9"..!
39.1.
83.0
23.8
23.8
21. .3
65.1.
11.0.1.
Itolted States earli^s bonds. Series A-F end J, are Included
at curreat
redemption value
Secin*ltles Issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury. For amounts subject to
statxttoiy debt limitation, see page 1.
Consists of ccnmierclal banks, trust ccinpanles, and stock savings banks
In the United States and In Territories and Island poesesslona. Figures
exclude securities held In trust departznenta
Holdings by Federal land banks are Included under "Hlecelleneous Investors" Instead of "U. S. Government Inveslanent accounts" after
June 26, 191.7, when the proprietary Interest of the Italted States In
these banks ended.
Includes partnerships and personal trust accounts . Nonprofit Instltu-
1/
8/
2/
p
1*9.1*
15.3
.6
II..9
lit.
II..8
11..3
13.9
8.6
8.5
8.5
8.5
8.5
19.3
21*.
7.9
9.1.
11.1
9.6
9.1*
9-7
10.5
10.7
10.6
11.6
11.7
13.2
II..
15.0
tions and corporate pension trust ftinds are Included under "Miscellaneous InTeetors."
ExcluslTe of tanks end Insurance cdopanles.
Consists of trust, sinking, and Inrestmant funds of State and local
goTemnents and their agencies, and Territories and Island poaseBSlons.
Includes ssTlngs and locm assoclatloos, nonprofit Institutions, corporate pension trust funds, dealers and brokers, and Inv-eBtments of
forel^ balances and International accounts In this country. Beginning Deceanber 19^*6, includes Inveslaients by the International Bank for
I^econatructlon and DsTelopnent and the Interaatlonal Monataxy Fund In
special nonlntereBt -bearing notes Issued by the U. S. Govenment.
Hmtiedlate postwar asbt peak.
Preliminary.
1+0
Treasury Bulletin
.TREASURY SURVEY OF OWNERSBCIP, FEBRUARY 29, I956,
The Treasury Survey of Ownership covers securities
Distribution of ownership by types of banks and Insur-
Issued by the United States Government and by Federal
agencies. The banks and insurance companies Included In
ance companies Is published each month. Holdings by commercial banks distributed according to Federal Reserve member-
the Survey account for approximately 95 percent of such
securities h'eld by all banks and Insurance companies In
bank classes and nonmember banks are published for June 30
and December 3I. Holdings by corporate pension trust funds
the United States.
Data were first published for
March 3I, igl+l, In the May I9I+I "Treasury Bulletin."
Bulletin for quarters beginning December 3I,
Section
I
-
are published quarterly and first appeared In the March 13^h
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - In ml 111 one of dollars)
19')-9.
Slmj
mi)
k\
.TREASURY SURVEY OF OWNERSHIP, FEBRUARY 29, I956.
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
Section
I
-
(Par values - in nllliona of dollars)
Issue
(Tax status 8/ Is shown In parentheses)
^2
Treasury BuUetin
.TREASURY SURVEY OF OWNERSHIP, FEBRUARY 29, 1956.
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
{Ttr TtLltMs
-
In nllUons of dollars]
Slcnj
m(y
i^?
.TREASURY SURVEY OF OWNERSHIP, FEBRUARY 29, I956.
Section
II
-
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par
v^ues
- in
mlUlona of dollArs)
14-1^
Treasury Bulleiin
MARKET QUOTATIONS ON TREASURY SEOTPITIES, MAECH
29,
1956
Current market quotations shown here are over-the-
public marketable securities issued by the United States
counter cloelng bid quotations In the New York market
as reported to
Government except Panama Canal bonds. Outstanding
Issues which are guaranteed by the United States
the Treasury by the Federal Reserve Bank of New York.
Government are excluded because they are not regularly
The securities listed Include all regularly quoted
quoted in the market.
for the last trading day of the month,
Table 1.- Treasury Bills (Taxable)
Amount
May M(,
^5
MABSEI QUOTATIONS ON TREASURY SECURITIES, MAECH 29,
Table 4.- Taxable Treasury Bonds
(Pi-lce decljnala are ^2Dila)
Amomt
19^
1^6
Treasury Bulletin
MAPKET QUOTATIONS OH TREASURY SECURITIES, MARCH
o
tr.
29,
I956
19%
Slaij
1^7
.AVEEAIE YIELDS OF LONCJ-TEPM BONDS.
Table 1.- Average Yields of Treasury Bonds and Moody's Aaa CJorporate Bonds by Periods
(Percent per einin)
Taxable
Treagury
bonds 1/
Moody's .'iaa
corporate
bonds
bonds 1/
Annual series 19^2 through 1952
19l»2
a. 1(6
191*3
VM
2.1*7
2.1*8
igits
2.37
1951-Jen.
2.39
,66
Feb.
2.1*0
,66
1951-Oct..
No»..
I'lar.
2.1*7
2 ,78
Dec.
Apr,
2 ,87
May.
June
2.56
2.63
2.65
July
2.63
Aug.
2.57
2.56
2. 91*
2.
2.83
2.73
2.72
2.62
Mocdj^s .^ae
corporate
bonds
Taxable
Treaaia:7
-
19''7.
19l*e.
19l»9.
2.53
3ept
2
Taxable Treasury
bonds, due or
callable
FrcE 10 to
20 years i/
20 years
and after
2.81*
2.39
2.96
3.01
2.71
2.70
2.93
2.96
2.93
2.93
2/
2.57
2.61
Traa 10 to
20 years 3/
20 years
ani after
2.95
.61
.70
.71
2. 91*
2.95
1.01
2.98
2.97
.71.
.71
.75
Dec.
1953 -Jan..
Feb..
Mar..
2.91*
Taxable Treasury
bonds, due or
callable
Moody's
Aaa
corporate
bonds
1952 -July.
Aug..
Sept.
Oct..
Not..
2.98
2.71*
2.61*
2.57
2.68
aTeragee of dally series
2.61
2.66
2.70
1952 -Jan.
Feb..
Mar..
Apr.
May..
June.
.9'*
-
2.62
2.86
2.96
2.32
1950.
1951.
1952.
2.61
2.82
2.66
Monthly aerlea January 1951 through March 1953
2 ,88
Mccdj's ljB&
corporate
bonde
calendar year averaees of monthly series
2.19
2.25
2.W.
2.31
191*6.
Taxable
Treasury
bonds 1/
3.02
3.07
3.12
.80
.83
Taxable Treasury
bonds, due or
callable
Moody's
Aaa
corporate
bonds
Fran 10 to
20 years i/
20 years
end after
Moody's
Aaa
corporate
bonds
Annual series beginning 1953 " calendar year averagea of monthly series
y
3.165/
3.20
3.96
3.21*
3.23
1951* -July.
3. '39
3.26
3.29
3.25
3.22
3.19
3.06
3.31*
Aug..
Sept.
Oct..
Not..
1953.
2.92
1953 -Apr.
May.
June
2.52
1951*.
Monthly series beginning April 1953
July
Aug.
Sept
Oct.
3.11
2.99
2.99
2.95
2,81
3.1*0
3.28
3.21*
Not.,
2.83
3.01*
Dec,
2.77
2.96
3.29
3.16
3.11
3.13
1951 -Jan.,
2.67
2.58
2.50
2.90
2.85
2.73
2.70
2.72
2.70
3.06
2.95
2.86
2.85
2.88
2.90
Feb.,
Mar.,
Apr.,
Hay.,
June,
2.1.5
2.52
2.53
Dec.
1955-Jan..
Feb..
Mar..
Apr..
May..
June.
July.
Aug..
Sept.
-
2.62
2.60
2.50
2.52
2.55
2.57
2.61*
-
2.90
2.80
2.91*
3.06
2.82
2.85
2.88
2.96
2.96
2.97
3.10
3.10
3.15
1956 -Jan.
2.86
Feb.
Mar.
2.82
2.90
2. 91*
2.93
3.11
3.08
3.10
1955.
averages of dally series
2.1*5
2.1*6
2.66
2.72
2.7S
2.77
2.76
2.77
2.88
2.91
2.38
Dally series
2.71
2.65
2.68
2.68
2.77 6/
2.92
2.92
2.92
2.91
2.91
2.96
3.02
3.00
unweighted aTerages
2.89
2.87
2.89
2.87
2.89
2.90
1955-oct.
Hot.
Dec
2.93
2.99
3.02
3.01
3.01*
3.05
3.06
3.11
3.13
;
2.98
.
u«
Trcasuni Bulletin
.
AVEEffiE YIELDS OF L0NG-TER4 BONDS
Mali
i'^^(>
^9
-INTERNAL REVENUE COUECTIONS-
Table 1.- Sumnary by Principal Sources
{jji
Total
MJoetznent of colltctlona
collections
reported "by
to bud^t
Internal
receipts 1/
Rerenoe
Service
Bxidget
Plecol year
or montJi
19117
19118
19119
1950
1951
receipts
fran
Internal
roTenue
39,379,1109
41,853,1185
110,307,285
39, 1148,607
1271,023
-11,057
-155,840
+491,475
51,106,095
•1660,409
1952
1953
65,63lt,89'i
19511
70,299,652
66,288,69s
70,170,9711
1955
1955-juu
Al^UBt.
2,801,230
. .
SeptcoBber
Octobep.,
norenbep.
Dece&ber.
5,1*03,579
5,915,6611
2,763,245
5,222,885
U,81iO,772
1956-Januftl7.,
4,580,1116
February.
6,903,381
y
1625,308
1484,439
f364,672 r
-186
-329
515
thouaands of dollars)
IndlrldioLl income tax and anrployment taxes
Corporation
Income v^
profits
taxes
Individual
Inccne tax
not withheld 2/
IndlTldual
iQCone tax
withheld i/
Old -age
Insurance
taxes
9,501,015
9,464,204
7,996,320
7,264,332
9,907,539
9,84e,28e
11,533,577
10,055,502
9,888,976
13,089,770
1,458,934
1,612,721
1,687,151
1,873,401
2,810,749
379,555
560,113
562,734
548,038
579,778
185,876
208,508
226,228
223,135
236,952
17,929,047
21,132,275
22,077,113
21,253,625 2/
3,584,025
3,816,252
4,218,520
5,339,5735'
620,622
628,969
605,221
600,106 5/
259,616
273,182
283,882
279,986
^
Railroad
retire
Bent
UiMBiploy-
ment
Instorance
39,108,386
41,864,542
40,463,125
38,957,132
50,445,686
9,676,459
10,174,410
10,854,351
14,387,569
21,367,662
23,379,123
20,527,935
19,797,883
26,624,788
65,009,586
69,686,535
69,934,980 r
66,288,692 2/
21,466,910
21,594,515
21,546,322
18,264,720
33,738,370
37,254,619
37,921,314
37,869,770
11,345,060
11,403,942
10,736,578
10,396,480
2,801,416
5.403,908
5,915,149
547,085
327,903
1,099,882
1,377,399
4,131,592
3,868,030
1,684,684
1,082,063
3,916,372
2,122,696
15,484
84,834
59,882
2,433
15,711
768
2,763,245
5,222,885
4,840,772
391,600
292,961
1,449,274
1,481,638
3,922,284
2,512,590
179,957
94,426
350,034
1,279,762
3,729,077
2,106,708
18,060
84,769
54,691
3,859
14,014
1,156
4,580,146
6,903,381
424,087
459.930
3,353,026
5,499,210
2,152,316
1,101,560
4,374,889
17,300
85,058
31,850
241,146
U,553,669
277,4lB
U4,674
798,U7
50
Treasury Bulletin
.INTERNAL REVENUE COLLECTIONS.
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS
Billions
Tofal
\'''^Fisco/ year
Comparison first
\r^ 8 months fiscal
years
1955 and 1956
\
I
DOLLARS
DOLLARS
Billions
Billions
38
_
36
Income Tax and
Employment Taxes*
Individuol
34
32
30
28
26
24
22
20
18
16
—
—
u
1941
43
.
May
I95b
51
.INTEPNAL REVENUE COLLECTIONS.
Table 2.- Detail of
Ckjl
lections by Type of Tax
(in thousemdB of dollare)
Type of tax
, ,
.
,
52
Treasury Bulletin
.MONETARY STATISTICS.
Table 1.- Money In Circulation
(in mlUlOTiB of dollars except as noted)
Paper money
Er^ of fiscal
year or month
Total
money In
circulation 1/
Total
paper
money
26,<l82
Cold
certificates
2J
Silver
certificates
Treaexiry
noteo of
1890
United
States
notes
Federal
Peaorve
Banlc
National
banJt
notes
notes
it/
26,034
25,661
26,231
27,348
45
43
41
39
38
2, 061
1950
1951
1952
27,903
27, '93
27,156
27,809
29,026
2,177
2,092
2,088
321
319
321
318
318
1953
195^
1955
30,125
29,922
30,229
28,359
28,127
28,372
37
35
34
2,122
2,135
2,170
igite
19'»9
Federal
Peeerve
notes
2, 061
23,600
353
99
23 ,209
22,760
23,456
24,605
309
274
243
221
93
86
318
320
319
25,609
25,385
25,618
200
180
163
73
70
67
81
77
1951* -December.
30,509
28,675
35
2,143
311
25,945
171
68
1955^ulj
30,2W4
30,317
28,379
28,535
2,155
2,143
2,154
317
317
316
25,644
25,717
25,806
161
160
158
67
28,1.39
30,ll22
34
34
34
October,,,
November,,
December,
30,559
30,993
31,158
28,660
29,072
29,231
34
34
34
2,148
2,156
2,155
318
319
314
25,936
26,340
26,506
157
156
155
66
66
66
1956-J8nuai7,,,
February
March
30,228
30,163
30,339
28,331
28,263
28,425
34
34
34
2,052
2,071
2,125
306
311
315
25,720
25,628
25,734
154
152
151
65
65
65
Auguat..,,
September.
.
End of fiscal
7ear or month
Total
coin
Standard
allTer
dollars
Subsidiary
silver
Minor
coin
66
66
Honey In
circulation
per capita
(In dollars) 5/
1948
1949
1950
1951
1952
1,421
1,459
1,496
1,578
1,678
156
164
170
180
191
919
940
965
1,020
1,093
346
355
361
378
393
190.31
I&4.33
179.03
180.17
184.90
1953
1954
1955
1,766
1,795
1,858
202
212
223
1,150
1,165
1,202
413
419
433
188.72
184.24
182.93
1954-Dec ember.
1,834
218
1,186
429
186.11
1955-July
August , , ,
September.
1,865
1,878
1,887
224
226
1,206
1,213
1,219
U35
439
441
182,75
182.89
183,24
1,229
1,245
1,246
443
183,78
448
449
186.13
186,87
1,221
1,224
1,235
445
445
446
181,04
180,42
161,23
October,,
November,
December.
1,900
1,922
1,927
227
228
229
231
1956 -January .
February ,
March.,.,
1,897
1,900
1,914
230
231
232
Source: Clrculatlcn Statcanent of Halted States Mcney.
1/ Ercludos money held by the TreaBury, money heM by or for the accoTjnt
of the Federal Eeaerve Banks and agenta, and coin estlmatod to be
held outside the continental lljnlts of the lilted States, Includes
naper currency held outside the continental llJBlts of the Uilted
States,
2/ Gold certificates were withdrawn from circulation In 1933,
^
4/
^
r
1
Treasury notes of I890 In circulation are being canceled and retired
upon receipt by the Treasury,
Federal Reserve Bank notes and national bank notes are covered by
depoeite of lAwful money and are in process of retirement,
Based on latest population estimates by the Bureau of the Census,
Revised.
Siaii
mi)
53
.MONETAEY STATISTICS.
Table 2.- Monetary Stocks of Gold and Sliver
(Dollar amounts lo mllllona)
Gold
Eiid
of flecal year or month
($35 per
fine ounce)
19'>8
19'<9
23,532.5
1950
1951
1952
2U,230.7
21,755.9
Silver
($1.29+ per
fine ounce)
Batlo of BllTer
to gold and
Oliver In
monetary etocKB
( In percent
23,3^.5
3,571.0
3,618.3
3,671.5
3,7X8.5
3,768,5
13.9
1953
22,1(62.8
3,8llt,3
W.S
19%
21,927.0
21,677.6
3,863.1
3,922.4
15.0
1955
2li,lt66.3
13.2
12.9
13.2
111.
15.3
195U-December.
21,712.5
3,886.6
15.2
1955-July
AugUBt.. .,
September.
21,682,0
21,681,8
21,683.7
3,923.9
3,921.3
3,918.6
15.3
15.3
15.3
October, .
November,,
December,
21,685.8
3,923.5
3,923.3
3,930,1
15.3
15.3
15,3
1956-jQnuai7,.,
February,,
March
21,692,9
21,695,2
21,715.7
3,938.7
3,9U2.1
15. "t
3,9^,2
IS.*
21,688,1.
21,690,
Circulation Statement of United States Money,
ellver monetary atoclc see Table k.
Source:
is.u
For detail of
Table 3.- Gold Assets and Liabilities of the Treasury
(In mllllona of dollars)
UabUlties:
End of calendar year or month
Gold aeeete
Gold certificates,
etc. 1/
Balance of gold In
Treasurer's account
I9W
2li,2U3.9
19i»9
2I1, 1127.1
1950
1951
1952
22,706.1
22,695.5
23,187.1
23,166.0
23,373.9
21,653.5
21,662.5
22,178.8
1,077.9
1,053,2
1,052.6
1,032.9
1,008.2
1953
1954
1955
22,029.5
21,712.5
21,690 .!»
21,51*5.7
21,223.5
21,199.1
1*83.7
1*89.0
1955^ulj
21,682.0
21,681.8
21,683.7
August.,,,
September.
October.,.
November,
December,.
1956->Tanuai7...
Februaiy..
March....
Source: Circulation Statement of United States Money.
1/ Corcprlsea (1) gold certificates held by tbe public and in Federal Beserve
(2) gold certificate credits In (a) the gold certificate fund -
21,685.8
21,l8l*.6
21,183,2
21,l8U,2
1*91.2
'»97.3
1*98.6
U99.5
21,690.U
21,196,8
21,192.1
21,199.1
1*88.9
1*96.2
1*91.2
21,692.9
21,695.2
21,715.7
21,200.1*
1*92.5
21,200.9
21,225.9
lt9't.3
21,688.1*
1*89.8
Board of Goremore, Federal Reaerve System, and (b) the redemption
fund - Federal Beserve notes; and (c) reserve of $156.0 Billion
against United States notes and Treasury notes of I890.
U
Treasury Bulletin
S'v
.MOHETAEY STATISTICS.
Table 4.- Components of Silver Monetary Stock
(In nlllloas of dollars)
Sllrer held In Tr«asur7
of cal«ndar
7e&r or month
]&id
surer
SllTer
bullion 2/
dollars
igkS
WltS
1950
1951
1958
1,971.5
2,003.2
2,0U0.7
2,073.5
2,109.7
328.1
321.9
312.8
301.0
289.3
1953
2,U0.8
Silver outside
Treasury
In Treasurer's account
Securing sllTer certificates 2j
Subsidiary
coin 2/
Bullion for
recolnage kj
Bullion
at cost
SllTer
dollars
165.0
171.0
179.8
191.3
202.5
971.5
982.2
1,022.2
1,083.1
1,158.1
3,596.7
3,643.1
3,697.1
3,7lH.3
1,213.1
U.O
213.2
223.1
17.6
235.11
1,283.2
3,837.0
3,886.6
3,930.1
228.8
89.3 2/
5.9
91*. I*
11.
Subsidiary
coin i/
Total
silver
at $1.29+
per fine
ounce
2/
3.6
1.7
3.9
95.1 2/
82.0 2/
U5.3
6.3
30.7
1.8.0
15.7
3,79l».l
195i»
2,171.1
1955
2, 19'*.'*
278.3
267.6
253.5
1955-July
August....
September.
2,189.5
2,191.7
2,192.2
261.3
258.6
256.7
28.8
.7
18.7
26.9
23.3
.5
.1
15.1*
231.1*
1,267.3
1,269.3
12.9
232.2
l,27lt.7
3,923.9
3,921.3
3,918.6
October...
Norember,.
December,.
2,19U.O
255.7
.1
.1
.5
25l>.3
20.3
17.9
15.7
lit
2, l9U.lt
2, 191*. It
lit
.3
233.2
23U.1
.3
17.6
235.lt
1,277.9
1,280.1
1,283.2
3,923.5
3,923.3
3,930.1
21.6
21.6
18.5
235.lt
l,281t.l*
3,938.7
.7
236.3
1,286.8
1,292.2
3,9lt2.1
1956 -January...
Februai7,
March....
2,19't.9
253.lt
2,196.6
2,198.5
252.6
251. l»
16.2
15.2
16.0
Circulation Statement of Iftilted States Money; Office of the
Treasurer of the tiilted States,
Valued at $1.29+ per fine ounce.
Includes silver held by cerUiln agencies of the Federal GoTernnent.
Source:
1/
2/
253.5
.2
i/
4/
Talued at $1.38+ per fine
Valued at $1.3&+ per fine
to whether the bullion Is
coins or for recolnage of
237.lt
l,2lt2.7
3,944.2
ounce.
ounce or $1.29+ per fine ounce according
held for recolnage of axibeldlary silver
standaro. silver dollars.
Mail
19%
55
.MONETABY STATISTICS.
Table 5.- Seigniorage on Silver
(Cumulative from January 1, 1935 - In mllllona of dollars)
Sourcoe of seigniorage on silver bxilllon reveULued 1/
End of calendar
year or month
Seigniorage
on colna
(allvor and
minor)
Misc. silver
(incl. silver
bullion held
1935
1936
1937
1938
1939
63 .7
18.5
19^0
19^1
122.2
182.1
19it2
2't5.7
19'*3
69.5
91.7
I9W*
299.6
362.3
19'*5
19'*6
1*29.5
!t91.9
19^7
19^3
520.5
559.2
578.7
191*9
1950
1951
1952
596.6
61.2.3
6911.2
7ltS.2
1953
1951*
792.9
807.0
1955
1955-Julj
August . . .
September,
Nationalized
silver
(Proc. of
87.3
34.5
34.7
34.7
34.7
34.7
326.2
422.1
508.1
616.0
705.6
274.9
397.5
4.2
226.2
302.7
366.7
457.7
530.7
&7.6
87.6
25.7
48.3
63.6
65.3
65.4
562.7
580.4
584.3
584.3
584.3
34.7
34.7
34.7
34.7
34.7
759.4
799.7
818.9
820.6
820.7
1,055.8
1,089.0
1,048.2
967.3
717.3
701.6
832.1
832.1
832.2
833.6
34.7
34.7
34.7
34.7
34.7
938.1
1,069.6
1,077.6
l,oC7.8
1,098.1
333.2
161.2
146.8
129.9
127.2
16.8
36.0
58.0
74.9
48.7
48.7
48.7
48.7
48.7
Potential
seigniorage on
silver bullion
at cost in
Treasurer'
account 2/
Silver Purcbese Act
of June 19,
193^
Hevly mined
silver (Proc.
Dec. 21, 1933)
June lU, 1931*)
Newly mined
silver (Acts
July 6, 1939,
and
July 31, 19"^)
Aug. 9, 193^*)
Total
eelgnlorsge
on silver
revalued
5ltl.6
756.8
950.6
48.7
48.7
48.7
48.7
48.7
ff7.6
48.7
48.7
48.7
46.7
48.7
87.6
87.6
87.6
87.6
87.6
65.5
66.5
74.5
48.7
48.7
48.7
67.6
87.6
87.6
87.6
87.6
87.6
104. •»
114.6
125.4
134.7
143.8
150.8
833.6
833.6
833.6
833.6
833.6
833.6
34.7
34.7
34.7
34.7
34.7
34.7
1,109.3
1,119.2
1,130.0
1,139.3
1,148.4
1,155.4
111.7
61.9
57.2
34.9
6.6
87.6
87.6
87.6
149.3
150.0
150.1
833.
833,
833,
34.7
34.7
34.7
1,153.9
1,154.6
1,154.7
12.7
10.6
9.7
87.6
87.6
4fi.7
48.7
48.7
801.5
v,j2.3
803.6
84.6
93.5
14.3
October. .
November ,
December .
804.9
805.8
807.0
48.7
48.7
48.7
87.6
67.6
87.6
150.7
150.8
150.8
833.6
833.6
833.6
34.7
34.7
34.7
1,155.3
1,155.4
1,155.4
11.3
11.5
14.3
1956 -January, ,
February
808.2
809.9
48.7
48.7
87.6
87.6
150.9
151.4
833.6
833.6
34.7
34.7
1,155.5
1,156.0
17.1
16.9
Source; Bureau of Accounts.
1/ These Itema represent the difference between the cost value and the monetary
Talue of silver huUlon revalued and held to secure silver certificates.
2/
The figures in this column are not cumulative; as the amount of
human held changes, the potential seigniorage thereon changes.
Table 6.- Increment Resulting from the Reduction in the Weight of the Gold Dollar,
36 of March 31, 1956
Exchange Stabilization Fund
Payments to Federal Peeerve Banks for Industrial loans
Allocations of
increment
Chaxgee against
increment
$2,000,000,000.00
$2,000,000,000.00
139,299,556.99
27,546,310.97
PMlippine currency reserve
23,862,750.78
Melting losses on gold coin
2,175,121-93
1,857,404.22
645,387,965.45
645,387,965.45
Petlrement of national
banJc
Unccr: sned
To tal increment
Source:
Bureau of Accounts.
notes
,
$111,753,246.02
23,862,750.78
8,754,431.56
2,819,479,826.71
Unexpended balance of
increment
317,717.71
8,754,431.56
2,674,791.680.64
144,688,146.07
56
Treasury Bulletin^
.EXCHANGE STABILIZATION FUND.
Table 1.- Balance Sheets as of June 30, 1955, and December 31, 1955
Slay 1956
57
.
EXCHAIGE STABILIZATION FUND
Table 2.- Income and Ebcpense
Januar7 31, 19311, through
June 30, 1955
ClAasiflcatlon
January 31, 193l», through
Decemher 31, I955
Inccoid:
Profits OD British sterlliig transactions
Profits on Franch franc transactions
Profits on goU. bullion (including profits f^r^m
>»«>.<
nwg
charges on gold),
Profits on other gold and exchange transactions
Profits on s llTer transactions
Profits on sale of silver
huUloa
to Treasury
Profits on InreaUDcnta
(
nationalized
,
•
Interest on InreslJiiants
,
HlBcellaneous profits
$310,638.09
$310,638.09
351,527.60
351,527.60
59,lWt,511.66
59,181,920.57
50,0U., 113.75
50,153,531.56
102,735.27
102,735.27
3,'t73,362.29
3,U73,362.29
1,876,790.55
1,876,790.55
9,863,299.65
10,177,650.82
86l,5't6.95
86l,5"<6.95
Interest earned on foreign balancee
S,8U9,683.19
2,8119,683.19
Interest earned on Chinese y\jan
1,975,317.07
1,975,317.07
130,853,526.07
131,31'»,703.96
12,627,015.35
13,2'i9,6oi.li6
Trstrel
612,1.65.58
651,1138.63
Transportation of things
722,76l.'t5
738,1156.93
CcBBnunications ............................................................
609,059.96
617,162.87
Supplies and materials
119,l8'<.i7
122,1191.25
1,630,75^.53
1,666,333.511
I6,321,2lt2.36
17,0li5,li81i.68
n't, 532 ,283. 71
1111,269,219.28
Total InccBns
Expense:
Personal serricee
Other
Total expense
Net income
..•.
•
•.«
Treasury Bulletin
58
.CAPITAL MOVEMENTS.
Data relating to capital movements between the
United States and foreign countries have been collected
since 1935, pursuant to Executive Order 6560 of January I5,
193'+,
Executive Order IOO33 of February
S,
igl)-?,
pages
As
'+5-'*7.
^ result of changes
in presentation
introduced in that issue, not all breakdowns previously
published will be exactly comparable to those now presented.
and
The first three sections which follow are published
Treasury regulations promulgated thereunder. Information
covering the principal types of data and the principal
monthly.
countries Is reported monthly, and Is published regularly
countries, of data on short-term banking liabilities to
Supplementary Information Is
In the "Treasury Bulletin."
published at less frequent Intervals. Reports by banks,
bankers, securltlee brokers and dealers, and Industrial
and claims on foreigners and transactions In long-term
and commercial concerns in the United States are made
initially to the Federal Reserve Banks, which forward
They provide auamarles, by periods and by
securities by foreigners, and present detailed breakdowns
of the latest available preliminary data.
Section IV provides supplementary data in five tables
which appear at less frequent Intervale.
Beginning April 1954,
data reported by banks in the Territories and possessions
consolidated figures to the Treasury.
Table
short-
financial concerns, is published quarterly in the January,
of the United States are Included in the published data.
April, July, and October issues of the Bulletin.
The term "foreigner" as used in these reports covers
all institutions and individuals domiciled outside the
United States and its Territories and possessions, the
official institutions of foreign countries, wherever
such institutions may be located, and international
organizations.
1,
term foreign liabilities and claims reported by non-
"Short-term" refers to original maturities
Table
2,
long-term foreign liabilities and claims reported by
banks and bankers, and Table 3. estimated gold reserves
and dollar holdings of foreign countries
sind
international
institutions, are published quarterly in the March, June,
3epte:nber, and December Issues.
Table
'4-,
foreign credit
and "long-term" refers to all other
and debit balances in brokerage accounts, appears seiiiannually in the March and September Issues. Table 5,
maturities.
A detailed discussion of the reporting
coverage, statistical presentation, apd definitions
short-term liabilities to foreigners in countries and
areas not regularly reported separately by banking in-
appeared in the June 1951+ issue of the "Treasury Bulletin,"
stitutions,
of one year or less,
Section
1
-
is
presented annually in the April Issue.
Summary by Periods
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In millionB of doUara; negative flgurea Indicate a net outflow of capital Pran the United States)
Analyels of oat capital aovoment
Calendar year or month
Net
capital
movement
Changes In liabilities to foreigners
Short-tenn
benklng
funds
SLai
mo
59
.CAPITAL MOVIMENTS.
Section I - Summary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
n nnw of dollftre)
(Poeltlaa at ond of period In
wi< T
Short-tem liablUtles to forel^iwre
TM
Payable in dollars
of caleixLar year
or month
Foreign
official
19112
,205.1*
a,2i*J*.i*
191*3
,371*.
I9W
,596.8
,883.1
3,320.3
3,335.2
19*5
191*6
,1*80.3
191*7
191*8
,11)6.1*
,718.0
,618.0
191*9
1950
1951
,
,61tlt.8
,302.2
1952
1953
,
10,51*6.1
U,648.U
12,922.5
13,599.8
1951*
1955
1955-July
August. ..,
September.,
October. .
Rorember.
December.
13,lltl.7
13,01*7.3
13,339.8
.
13,573.7
..
13,61*5.6 r
1956->Tanuftry p.,
February p
13,599.8
13,716.7
13,863.11
'*,1T9.3
3,OU3.9
Other
foreign
Short-term claims on foreisners
Payable in
InternatiooAl
forel^
currencies
Payable In dollars
Loans to
foreign banloB
Payable In
foreign
currencies
60
Treasury Bulletin
.CAPITAL MOVEMENTS.
Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
{In
Calendar year
or numth
minionB of dollars; negative figures Indicate a net outflow of capital fron the ltd ted States)
May
mb
61
.CAPITAL MOVIMENTS.
Section
II
-
Summary by Countries
Table I,- Short-Term Banking Liabilities to Foreigners
(Poeltlon at end of period In mllXlona of doUare)
1/
2/
Liabilities to countries not regularly imported eoparately are published
annxially In the April laaue of the "Treaeuj^ Bulletin."
1951-1952 as reported by banks In the Second Federal Beserve District only.
p
Prellittlnai7.
r Revised
^^
62
Treasury Bulletin
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 2.- Short-Term Banking Claims on Foreigners
{Position at end of period In mllllonfl of dollara)
Covaatrj
Maij 1956
63
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 3.- Net Transactions in Long-Term Domestic Securities by Foreigners
(In thouaandB of dollarB; negatlTe flgurae Indicate net ealea
1>7
foreigners or a net outflow of capital from the United States)
Galendar year
1955
CouQtry
1951
Europe:
Austria, ,..,.,,
Belgium
CzechoalovaUa.
Dennark
Flnlani
France
Geman;, Federal Bepubllo of.
Greece
Italy
Netherlands
Norway
Poland
Portugal
BuDanla
Spain
Sweden
,
Switzerland
Turkey
U. S. S. R
United Eli^cm....
TugoslaTla
Other Europe
Total Europe.
Canada
1952
-11,876
5,655
-58
koi
-80
1953
ll21
-1*88
U
If8
-29
1,813
-581
2
1,800
963
-41,668
5,969
1955
195''
U,060
U,869
-2,903
13,
-28
-98
1,923
3U
-22
393
1,582
21
3,256
81
January p
•G,865
-lou
-7
-155
9
-55
1
-724
-27
-5
-121.
-16
126
-515
-1,325
-1
-1,466
-12
15lt
183
1.
551
21
16,992
-1U8
-101
-1,685
8,761
1,921
"190
-Jt8l
^16
-22,17lt
-21,91*3
-21,319
-3'',339
-6,89U
17,695
-11
5U1
-1,832
-38,103
5,978
-'',5Ua
1,1'6U
''7,580
9,562
-89
19
i»i
-98
39
1.
631
-9
-89
918
800
2,261
-361
663
-287
-l,00lt
258
73 ,''02
ll'7,''87
19,099
55
-110
8,139
175
96,025
-8,885
1,956
250
138
201
It
1
56
1(91
28
570
50,729
63
'»5,897
81»
-IU9
21,369
T0,lt31
2
-925
-521
57,086
-45
-8
71,258
69,766
1956
Septamber
1,553
2,035
3,099
129
360
IB9
8U
-13,695
915
2
27
-222
-2,736
21.1
-1,8U9
-3,067
1,111.
-356
1,901
1,560
see
6
102
1,012
l,Ul6
-313
-3
-II'
-181.
-186
287
-1,798
-1,373
77
8,1.11.
9''6
-16
53
-12
-4
-1,587
5,643
1
110
-2
6
11
-ei
80
210
78
-75
-6,511
2
96
7,693
16
378
10,182
-U,l69
-3,1'31
-2,863
-1
899
3,155
900
34
2,587
16
9,21*5
111,1167
62,323
138,928
332,157
25,800
7,686
-6,759
-4,604
U,101
-595,'t95
191,6U7
-120,617
-187,195
26U,a25
-10,052
-'',857
-19,501
''1,297
-5,007
-962
1,268
358
281
1,138
119
638
1,115
-1,519
-938
202
207
28
87
-79
69
-17''
131
329
256
671.
359
-116
-57U
367
-61.
1,979
930
108
1,110
3,782
703
-52
488
-1.711
1,1.60
191.
92
11.9
254
-6
19,385
-1,029
-1,170
-886
873
81.,255
53,677
1,612
-202
971
265
-1,267
11,290
95
-ki
-11.1
-lUl
3
2,128
1,190
-27
8
-107
382
21*0
-7>'
169
13,339
-119
3,016
1,018
-i3k
3''7
-1.92
3U
Latin America:
Argentina.
Bolivia...
Brazil....
Chile
Colcmhla..
Cuba
Dominican Republic
Guatemala
Mexico
Netherlands W. Indies & Surinam.
338
1,550
637
510
1(12
-836
170
6,051
1,785
1«39
-U25
6
2,592
2,501
3,066
1.36
''13
-53
621.
-3,137
-59
a. Republic of.
Psru
El Salvador
Uruguay
Venezuela
Other Latin America.
-6,532
96
-2,l'2l'
-8li
-10,921
2,558
65
2,680
21
3, ''50
6,U03
'',213
1,59''
1,1A3
3,61.9
-157
198
669
-1,521
1,007
-78
-3,805
266
2,309
1,687
3,0''l
8,025
7,''''5
I'll
1,01.2
16
23
911
233
700
Total lAtln America.
13,890
,686
2U,859
113,179
76,166
13,296
-17
1,861'
6,719
-153
853
21.
-1.20
-901.
323
7
952
115
ko
11
212
-6
-117
1
-10
4
14
1,227
10
-18
1
1
2
11
3
8
12
35
76
23
5
1,422
761(
It
66U
801.
Asia;
China Mainland.
Fomosa. .......
Bong Eong
India
Indonesia
Iran
Israel
Japan
Korea, Republic of
Hilllppines
'
-153
.
7,011t
-6I18
-98
-eo3
1,313
-1,''32
5,393
252
1/50
-2,283
''2
ll'l
-irtA
9^5
5,300
789
-69
j,9
-71.8
15,11'0
101
-57
5^3
U91
1/
-1.1
20
-550
1,063
-785
1,751
8
2Ui/
-19
5I'
1
-e,o68
-11,1122
-179
-1,079
Thallanl
Other Asia
1,737
599
11*9
-180
-m
251.
5
15
1
-382
877
758
l',857
6,951.
28
21.5
4
-165
Total Asia
'',753
-9,535
70
3, ''51
29,121
6,260
1,''97
373
2,523
82
Ik
-95U
-359
2
-499
i.cei
1,770
99
168
-GO
210
31*9
9
28
38
201.
71
-1
3
-56
1,460
1,477
Other countries:
Australia
Belgian Congo
Egypt and Anglo-Egyptian Sudan.
Dillon of Souldi Africa
All other
Total other countries
Intematl onal
Grand total.
i/
228
-llU
ll*
123
-903
-222
5''!
2,326
21
I5I'
32
-3
128
-21
6,076
21
-88
5
2
-15
986
11.7
-1.67
17
-e
71
-7ltlt
1,935
-889
3,225
6,561.
998
-1.01
339
-15,938
11',71'J'
22,7Ul
77,730
-20,561
l,3l'2
96U
2lK}
1,742
-58' ,289
31'',9'A
-11,513
I''9,3l8
688,272
37,61A
'',872
-23,WA
49,154
Hot reported separately prior to March
195I'.
337
27
:
Treasury Bulletin
6U-
.CAPITAL MOVEMENTS.
Section II
Summary by Countries
-
Table 4.- Net Transactions in Long-Term Foreign Securities by Foreigners
(In thouaande of dollare; negative figures Indicate net sales by fore Ignerg or a net outflow of capital from the United States)
Calendar year
1956
1955
Country
1951
Europe:
Austria
Belgium
CzechoslovaJcla
Denmark
Finland
1952
5,256
98
France
Germany, Federal Eepubllc of...
Greece
Italy
Netherlands
13
26
1,167
2,773
3,312
-8
Honray
Poland
Portugal
Rumania
1953
3,818
3,511
-28
5,309
58
5lt9
-303
-25
I95I*
1955
1,995
3,056
1,1.89
7,211.
-11
12,001*
-587
-6,985
December
January p
-39
2,135
1,1*50
1,11.6
3,219
53
1,675
8
25
183
680
733
2,270
-1,626
10
1
-1
-3
25,571*
noTember
Septemlwr
2k
51
10,725
36I.
280
-l.,1.39
1,675
166
16
-67
-1,330
1,174
1*1*2
-11*8
kSi
4,139
-484
-31
61.
190
-1
21.7
1,179
15,356
179
lt,90l.
5,395
-l.,670
5,1*01
2,021.
-506
uo
1,170
-8,702
-162
50
-6,091
-8l*,81*l
U,66e
60
1,763
-21. ,275
-36
3,11*3
1,280
1,351
3,991
1,31.5
-20,090
-361.
10
-11.
12
49
1,389
1,128
-34
795
1,859
2,01.8
10,337
-3, '121
-318
-17
286
-1*1*
28I.
67
-73
U,706
207
-9
62
-7
9,209
-265
-72
-26
13
43
-13
961
-163
282
-1.87
-1,332
8,731.
37,301.
l'.,233
6
-18
-85
-1.1
5
-307
1,336
1
2,668
'•7
33,620
-197
-229
-701
155
1U,21(5
-39
-375
-17
1,495
-10
-2,01*7
-.,398
37,051
-9,1.63
-35,235
-3,91*1
1,211
5,496
77
-19
-2
-1
-5
606
28,500
752
1,61.2
1*81
1K)9
19,939
1,131
96,259
121
2,807
-9,119
-1^5,523
-6,669
258,567
-11.1,019
-137,761 •133,171.
7'.,15l*
2,830
-teo
116
78
501
7,051.
6,981.
5,388
5,239
2,163
7,189
1,562
1,711.
1,21.5
-292
77
5,5"*
51
-323
-1,558
118
5,763
3,621
1,058
SOU
13'>
1,281
236
5,239
5,3U
6,1*69
Spal n
Sweden
Switzerland
Turkey
U. S. S. K
TJlllted Kingdom
5,983
-231*
21
-6
Yugoalavla
Other Europe
Total Europe
Canada
-5
3
448
16,760
-990
8,075
87
8,764
11,922
3,390
6,171
-7,459
-74,879
-96
19
51
-55
3
179
321.
-1,250
285
31
1,475
25
65
34
784
611*
58
70
-107
l,i09
-11.3
183
122
-164
1,976
17
1,360
2
5
-1,278
62
55
-24
714
31
1,263
192
-157
431
-41
-197
561
50
4,448
2,142
1,196
10
586
Latin America:
Argentina
Bolivia
Brazil
Chile
Colombia
,
,
,
,
Cuba
Dominican Republic
Guatemala .......................
Mexico
Netherlands W. Indies 8c Surinam.
51.
66
168
3,089
-1,007
127
-351
228
3,961.
l.,296
5,351.
6,031
9,071.
731.
1,115
515
1.35
237
Panama, Republic of
Peru
El Salvador
Uruguay
Venezuela
Other Latin America
5,298
-lUl
750
2,210
309
1,801.
5,065
31*0
UI.1
2,137
1,322
129
2,753
-1,186
296
-50
1,633
-1.30
775
1.96
1,711.
11.5
6,299
117
12,179
1,798
-1,871
-861
Total Latin America
33,816
25,332
31., 599
32,760
23,506
1.8
211
16
86
523
35
5
301
60
1*41
281
-97
20
101
13
11.
-391.
1.67
15
-35
170
131.
1.32
-70
9
6
491
32
277
1,792
2,223
1,071
407
6
9
-663
28
122
413
2
Aaia:
China .Mainland
Formosa
Hong Kong
India
Indonesia
Iran
Israel
Japan
Korea, Republic of
Philipplnee
[
,
3
12
1,1.92
1,1.1.1
681.
loe
2
-16
109
-1.
l.,869
31.
9
2
12
-1.6,757
-1,1.31.
-2,531.
-7,214
-351
1/
9,782
96
-30
53
-1.5
ll.,32:K
-219
-178
-6l4
5
3
27
-51,31.6
,,
535
339
0,681
Thailand
Other Aaia
6,1.81.
Total Aaia
IQlt
U,320
1,272
-2,862
-692
-36,003
-10,01.2
-2,937
-e,68i.
2,519
2,762
237
-2
-1
1
-3-0
9
13
23
-6,111
51
-6,334
87
34
-3,351
40
-1,496
604
-10,683
-8,te2
-5,004
244
345
144
-242
4
-23,871
l4l
Other countries:
Australia
Belgian Congo
Egypt and Anglo-Egyptian Sudan.,
Union of South Africa
All other
-1.03
9,280
1
122
-70
5,981
2,1.53
299
-5,1.13
Total other countries
2
1
28_
261
-89
30^
-23,261
198
International
- 152.673
-116,067
-12,1*1*0
-2,75'>
-e,210
-2,395
-4,949
Grand total
-376,989
-217,876
-llt,971
6,549
3,1U3
-20,329
-70,570
1/'
Not reported separately prior to March 1954.
p
I^llmlnai7.
February p
May
i95b
65
.CAPITAL MOVOIENTS
Section III - Preliminary Details by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners as of March 31, 1956
(BMltlon In
thonaaiids of
doUan)
;
Treasury Bulletin
66
.CAPITAL MOVBtEMTS.
Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Forelgnere as of February 20, 1056
(Position la thonsanla of dollara)
Short-t«rB olalas pajabis in
Total
Bhortt«rm
Countxy
Colleotlona
?orel^
outataxkllng
f 01* own
aoconnt and
official
Inatltntlona
dcnaatlo
ouatoaara
olalH
Europe
Aaatrla
2,286
17,991
95
10,731
Belglioi
Cteoboalora^a
Deiaark
Finland
Trance
OtrmtDj, rederal Sepnbllo of
Greace
Italj
Hetharlande
Borvay
toltiA
Portugal
PuBBnla
Spain
10,621.
2,383
U,2l6
187
772
81
163
10
1
529
1
9
8,819
107
1
106
200
1
1
4,664
1,103
1,361
6,803
144
4,154
12,305
3,388
5,079
6,825
1,088
66,658
2.961
3,3li2
1,263
3,185
1,698
157
9,705
2.637
495
1,782
458
1,626
156
2,685
98
98
3
27,926
10,1-^
6,339
8,963
30
877
2
6.265
85
4,816
1,377
141
31
649
3,953
776
2
75
27,316
69,138
6,595
a2,l«7
68,662
37
3,374
65,660
14,600
22
1,1.83
23
37
30
U7
B
anted KlQgdcK
Other
foral^ian
2
538
'',775
6,91.9
Other
1,617
10,020
89,503
2
Depoaita of
reportli^ baaka
and dcMoetio
coatoaara with
480
4,896
14
1,642
690
1,765
1,310
9,437
7,661
Sweden
Switzerland
Tnricay
U. S. S.
95
l'',177
92,81.5
9,06l
30
937
..•••.•.
2,281.
17, '•53
2,381.
.,775
28,tel
11,955
Sbort-teix olalaa pa7al>le
in forem enrreoclsa
doUan
60
57
1,461
1,396
1,396
2,858
3,247
2,980
3,583
1,206
354
4,839
476
3ie
4,877
476
12
12
67,221
21,032
5,104
3,157
9,644
3,127
46,189
33,51.3
12,646
TtigoalaTla
6,111.
Other Europe
6,787
5,825
6,651
5,301
869
4,826
524
927
29
289
136
113
132
176
4
Total Europe
Canada
Latin Aaerioa;
Ansentina
BollTla
Brazil
Chile
Coloabia
Cuha
Doalnlcan Republic
Guatanala ........................
Mexloo
letberlanda Weat Indies k Sarinaa
Panana, Republic of
Peru
El Salrador
Uruguay
Venezuela
Other Latin Anerlca
,
,
,
Total Latin America
386,876
323,761
103,393
.J.,385
61,786
114,197
63,115
48,202
ll.,913
335,116
76,661
12,508
39.397
6,348
18,408
58,455
52,752
5.703
7,106
139
3,470
2,885
20,871
2,387
51,850
7
131.
89
45
158
7,504
11,118
41,645
36
36
1.3,756
1,968
229
16,905
1,121
13,406
47,883
929
114
56,036
243
13,000
924
187
27,520
437
11,644
2,023
4,356
15,743
1,118
7,780
1,071
576
63,408
10
59
400
59
216
16,033
6,338
894
1,478
32,816
5,178
2,222
13,207
2,983
1,440
39,098
18,741
509
4,758
2,469
7,877
15,271
5,to7
211
2,146
94
207
712
1.434
64
30
136.434
194,038
169.568
4,430
2,493
1.937
550
1,584
39
2,572
2,702
390
74
809
25
374
21
367
423
6,250
27,807
5
128
9
5
122
9
8
18
14
12,685
12,551
3,1.11
66,1.77
3,1.11
66,1.41
19,085
150,716
19,085
150,657
80,707
80,307
l.,951
11,91.7
5,233
161., 039
1,808
5,233
162,709
1,808
19,35't
31,21.1
19,353
31,226
6,681
21,l6l
4,459
6,681
19,715
102, k08
33,597
100,262
33,503
589
6,923
335
8,709
13,077
4,177
722,108
717,678
215,638
2,1.75
2,'.75
2,475
6,019
6,019
4,530
5,1.30
19,501.
4
1,330
1,095
1
15
15
184
4
235
1
4
Aala!
China Mainland
Forsoaa
Bong Kong
India
Indcneala
Iran
Israel
Japan
Korea, Bepnbllo of
nilllpplnee
,
,
5,320
1,125
4,91.6
1,125
300
1,427
734
18,765
10,782
18,760
10,654
92,834
89
2,122
37,676
16,U9
'.,555
,
,
1
89
1,492
16,108
16,090
10,988
32
18,159
790
11,232
1,415
5,062
9,261
7,700
55,956
262
1,561
10,373
6
987
986
20.137
5'i,295
35.377
1,^
1,52*
4,443
4,292
264
300
185
1,378
1,432
9
63
226
520
514
9
150
254
76
266
92,81.3
I.'.IS
<
8
l.ltlS
Thailand
Other Aala
67,581.
9,261
66,597
Total Aala
236,252
234,706
124,697
11,301.
Other oountrlea l
Anatralla
Belgian Coi^o
QSTpt & Anglo-EgTptian Sudan
Qalon of South Africa
All other
5,312
2,251
6,655
13,370
9,872
5,303
2,188
6,429
12,650
1,135
22
177
1,250
5,266
84
844
5,017
1,710
4,910
5,362
Total other ooimtrlaa
38,892
36,642
7,850
931
21,442
6.415
2,250
990
1.260
1,519,2'.5
1,389,449
464,286
243,284
337,910
31.3,969
129,796
105,961
23,835
1
918
63
Intamaticpal
Orand total
May
mh
67
.CAPITAL MOVIMKNTS.
Section III
Table 3.
-
Preliminary Details by Countries
Purchases and Sales of Long-Term Securities by Foreigners during February 1956
(
In thoufiande of dollara
:
»
Treasury Bulletin
6S
.CORPORATIONS AND CERTAIN OTHKR BUSINESS-TYPE ACTIVITIES.
Balance sheet data of corporations In which the
United States Govermnent has a proprietary Interest,
activities, appeared In the
as Tables 1,
and
2,
April 1956
"Treasury Bulletin"
3.
direct or Indirect, and of certain other business-type
Table 4.- Income and Expense for the Six Months Ended December 31, 1955
(In thousands of dollars)
Corporations
Department Department Department
of
of the
of
Conmierce
Interior
Justice
Department of
Agriculture
Grand
total
Income:
Sale of commodities and supplies
Sale of services
Rents and royalties
Interest and dividends:
Interest on loans
Interest on public debt obligations
Interest » other
Dividends
Guaranty and insurance premiums
Other income:
Gains on sale of fixed assets
Gains on sale of investraents
Gains on sale of acquired security or
collateral
Other
,
corporations
695 .896
136 ,163
459,Sllj.
138 .1+3'"
30 .906
5.867
35,1481
,283
1+5
5
,
Net income, or loss (-) . before adjustment of
valuation and operating reserves
Adjustments of valuation and operating reserves:
Reserve for losses on loans
Reserve for losses on acquired security or
collateral
Reserve for losses on fixed assets
Reserve for losses on commodities and supplies
Operating reserves
Other reserves
Net adjustment of valuation and operating reserves
Net income
>
or loss (-)
Changes in unreserved earned surplus or deficit:
Unreserved earned surplus, or deficit (-)
June 30, 1955
Net income or loss (-) » for the six months
ended December 31 1 1955 2/
Transfers to surplus reserves
Transfers from surplus reserves
Distribution of profits:
Treasurer's account-deposit of earnings
Dividends
Other
Prior year adjustments
Unreserved earned surplus, or deficit (-)
Decemt.er 31 > 1955
I
'.
Footnotes at end of Tai le
5.
9,601
22 ,103
66
1+.621
336
,751+
l+,277
1+
1+
12 ,991+
7 ,350
U.l+72
1,211+
,579
1,085,325
61+9,568
1 .191+ ,1+33
1 ,079 ,J7^
131,665
96,835
22.359
1+.260
1
,1+65
119,290
31A35
31,1+35
87 ,955
37 ,966
1+.990
3,571
93 ,266
1+2,558
25,890
62 ,551
25,890
39 ,122
,
Total expense
Inc.
Reconstruction Finance
Corporation
ties
Corpora- (in liquidation 2/ tion) ^/
Federal
Facili-
1,768
67 .330
171
Federal
Prison
Industries
22
2,1+19
1
22
,1+29
Expense:
Cost of comrnoditiea and supplies sold
Direct operatin.: costs
Interest expense:
On borrowings from the U. S. Treasury
Other
Administrative expanses
Depreciation (not included in cost of sales or
direct operatini costs)
Grants subsidies and contributions
Direct
Indirect
Guaranty and insurance losses
Other expenses
Losses and char^e-offs:
Loans char.- ed off
'.
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or
collateral
Direct charges to operating reserves
Other
Virgin
Islands
Corporation
288
Ml
1 ,780
Inland
Waterways
Corporation
61+1,959
l+,302
,
Total income
Credit
Corporation
802 ,581
156 ,70k
16 ,372
102
136
Federal
Crop Insurance
Corporation
Comrriodity
Department of the
Treasury _!/
5.522
8,197
1,202
t+6,622
2,51+1+
802
802
1
,1+1'?
7,506
8.066
6,121
1,032
,oi+e
1+36
78,1+57
111
,356
ii/'
151+
L+06
May 19%
69
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYFE ACTIVITIES.
Table 4.- Income and Expense for the Six Months Ended December 31, 1955
(Continued)
(In thousandB of dollars)
Corporations - (Continued)
Export-Import Bank
of Washington
Department of the
Treasury - (Continued) X/
Smaller
War Plants
Corporation
(In liquidation)
^
Sale of commodltiee and supplies
Sale of services
Rents and ro/altles
Interest and dividends:
Interest on loans
Interest on public debt obligations
Interest other
World War II
and production program!
in liquidation 2/
Regular
lending
activities
Farm Credit Administration
Defense
Production assets
Act of
in liquidation 2/
1950, at
amended
Federal
Banks
Farm
for
coopera- Mortgage
Corporatives
tion
Federal
intermediate
credit
banks
Production
credit
corporations
85
262
1+3
,187
605
1+58
..
6,500
526
8.91*3
522
773
9
I
Dividends
Giiaranty and insurance premiums
Other Income:
Gair£ on sale of fixed assets
Cains on sale of investments
Gains on sale of acquired security or
collateral
Other
m
96
Total income
135
443
605
1+58
12,20+
301
363
693
1+
1+3
,193
37
198
7,063
198
101*
626
9,728
Expense;
Cost of commodities and supplies sold
Direct operating costs
Interest expense:
On borrowings from the U. S. Treasury
Other
Adniniatrative expenses
Depreciation (not included in cost of sales or
direct operating costs)
Grants* subsidies > and contributions:
Direct
Indirect
Guaranty and insurance losses
Other expenses
Losses and charge-offs:
Loans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or
collateral
Direct charges to operating reserves
Other
1*,191
Total expense
U,25lt
12,906
iok
363
3.151*
-3.812
30,287
301
95
3,909
before adjustment of
valuation and operating reserves
Net income, or loss C-)
1+5
18
872
761*
180
105
11
9,1*80
875
187
21*7
-21*9
3.572
187
21*8
-21*8
,725
13 ,223
31,1*1*1*
13 ,703
3,572
-893
187
21*8
-21*8
3
13
l+O
1
»
125
-21H
1*,273
127
or loss (-)
-101
22
Net adjustment of '/aluation and operating reserves
>
8,1*29
1,161+
5
Adjustnents of valuation and operating reaerves:
Reserve for losses on loans
Reserve for losses on acquired security or
collateral
Reserve for losses on fixed assets
Reserve for losses on comnoditiee and supplies
Operating reserves
Other reserves
Net income
1,937
1
t.273
23
462
30,310
-337
301
95
600
208
301
95
Changes in unreserved earned surplus or deficit;
Unreserved earned surplus, or deficit (-) ,
June 30, 1955
for the eix months
Net income, or loss (-)
ended December 31, 1955
Transfers to surplus reserves
Transfers from surplus reserves
Distribution of profits:
Treasurer's account - deposit of earnings ...
Dividends
Other
Prior year adjustments
Unreserved earned surplus or deficit (-)
December 31, 1955
-36 ,788
6/
51*
,
,
Footnotes a* enl of Table 5.
127
30,310
-1 ,000
-661
-875
-100
,
-37,635
30.310
901
299
(Continued on following page)
56,71*1*
12,1*10
31 ,692
13
,1*51*
Treasury Bulletin
70
.COEPORATIONS AKD CERTAHf 0THE31 BUSHIESS-TYPE ACTIYTTIES-
Table 4.- Income and Expense for the Six Months Ended December 31, 1965
-
(Continued)
(In thouaanda of dollars)
Corporations - (Continued)
Federal Home Loan
Bank Board 10/
Federal
Depoalt
Insurance
Corporation
Sale of commodities and supplies
Sale of services
Rents and royalties
Interest and dividends:
Interest on loans
Interest on public debt obligations
Interest other
Dividends
Guaranty and insurance premiums
Other income:
Gains on sale of fixed aaaeta
Gslna on sale of investments
Gains on sale of acquired security or collateral
Other
1
19,913
i
Total income
33
,1+53
1
206
53,578
Expense;
'Cost of commodities and supplies sold
Direct operating costs
Interest expense:
On borrowings from the U. S. Treasury ........
Other
Administrative expenses
Depreciation (not included in cost of sales or
direct operating costs)
Grants subsidies and contributions:
Direct
Indirect
Guaranty and insurance losses
Other expenses
Losses and charge-offs:
Loans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or collateral
Direct charges to operating reserves
Other
1
t
Total expense
Net income
l|,295
or loss (-)
before adjustment of
valuation and operating reserves
»
»
Adjustments of valuation and operating reserves:
37
53
Federal
home
loan
banks
Federal
Savings
and Loan
Insurance
Corporation
Housing and Home Finance
Agency
Federal National
Mortgage Asaociation
Secondary
market
operations
Other 11/
Public
Housing
Administration 12/
Panama
Canal
Company
Saint
Lawrence
Seaway
Development
Corporation
Tennessee
Valley
Authority
May 19%
71
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYEE ACTIVITIES.
Table 4.- Income and Expense for the Six Months Ended December 31, 10G5
-
(Oontlnuedl
Treasury Bulletin
72
.
COKPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Table 4.- Income and Expense for the Six Months Ended December 31, 1055
(In thouflanda of dollars)
(Continued)
May 19%
73
.
COEPORATIONS AND CERTAIN OTHER BUSINESS-TTPE ACTIVITIES.
Table 4,- Income and Expense for the Six Months Ended December 31, 1955
-
(Continued)
{In thousands of dollars)
Certain other buslneaa-type activities - (ContinuedJ
Housing and
Hoine
Finance Agency -
(
International Cooperation Administration
Continued)
^/
Office of the Administrator
College
housing
loans
21/
Public facility
loanB Reconstruction Finance
program
Public
facility
loans
.
Public
works
planning
fund
Revolving
fund
(liquidating
programs
Urban
renewal
fund
Guaranty
program
Loan
program
I ncome
Sale of commodities and supplies
Sale of services
Rents and royalties
Interest and dividends:
I nterest on loans
Interest on public debt ooligations
I nterest * other
Dividends
Guaranty and insurance premiiiras
Other inco-ne:
Gains on sale of fixed assets
Gains on sale of investments
Gains on sale of acquired security or collateral
Other
Total income
10,858
1,281
2,7U5
19,837
1*71*
121*
1,372
52
180
321*
13.665
651*
91*3
19 ,837
338
65
11.301
Expense:
Cost of commodities and supplies sold
Direct operating costs
Interest expense:
On borrowings from the U. S. Treasury
Other
Administrative expenses
Depreciation (not included in cost of sales or
direct operating costs)
Grants subsidies, and contributions:
Direct
Indirect
Guaranty and ir.surance losses
Other expenses
Losses and charge-offs:
Loans charged off
Other assets charged off
Losses on sale of fixed assets
Losses on sale of investments
Losses on sale of acquired security or
collateral
Direct charges to operating reserves
Other
5,006
1,020
308
22/
35
6
1,1*01*
)
323
17
129
30.263
1,1*25
before adjustment of
or loss (-)
valuation and operating reserves
Adjustments of valuation and operatinf^ reserves:
t
Reserve for losses
Reserve for losses
collateral
Reserve for losses
Reserve for losses
Operating reserves
Other reserves
2,505
1*3
Total expense
Net income
5,933
37,186
6.1*50
-23,521
-5.796
-1,622
3,535
-5 ,796
-1,622
.535
-53,733
-5,366
-36,301
-5 .796
-1 ,622
8,535
11.301
»
-35
on loans
on acquired security or
on fixed assets
on commodities and supplies
70
.
117
-26
Net adjustment of valuation and operating
reserves
:22_
"^^TT
Net Income, or loss (-)
Changes in unreserved earned surplus or deficit:
Unreserved earned surplus, or deficit (-)
June 30, 1955
Net income, or loss (-) , for the six months
e.irigd December 31, 1955
Transfers to surplus reserves
Transfers from surplus reserves
Distribution of profits:
Treasurer's account-deposit of earnings
Dividends
Other
Prior year adj ustraents
Unreserved earned a'orplus or deficit (-)
December 31 . 1955
"Tjr
360
,
,
Footnotes at end of Table 5,
-181
-73
-1*5
-11*
-6
-35
-245
.31*8
-23 .360
-2 ,668
-95
,
-258
-35
-11*
(
Continued on following page)
-268,803
-59,581*
-6 ,98
-30 ,-33
7^
Treasury Bulletin^
.CORPORATIONS AHD CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Table 4.- Income and Expense for the Six Months Ended December 31, 1955
(In thousands of dollars)
(Continued)
May
1956
75
.COEPORAa?IONS AMD CEREAHI OTHER BUSHtESS-TYPE ACTIVITIES.
Table 4.- Income and Expense for the Six Months Ended December 31, 1955
(In thousands of dollars)
Account
(Continued)
76
Treasury Bulletin
.CORPORATIONS AHD CERTAIN OTHER BUSINESS-TrPE ACTIVTnES.
Table 5.- Source and Application of Funds for the Six Months
(In thousanda of dollars)
^ded December
31, 1955
May
mt
77
.CORPORATIONS AMD CERT AIM OTHKR BUSINESS-TYPE ACnVITIES.
Table 5.- Source and Application of Funds for the Six Months E^ded December 31, 1055
(
In thousands of dollars)
-
(Continued)
78
Treasury Bulletin
.CORFORATIOTS AND CERTAIH OTHER BUSIHESS-TTIPE ACTIVITIES.
Table 5.- Source and Application of Funds for the Six Months Qfided December 31, 1055
{In thousands of dollars)
-
(Continued)
May
me
79
.CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACnVITIES.
Table 5.- Source and Application of Funds for the Six Months Ended December 31, 1056
(In thousanda of dollars)
(Continued)
so
Treasury Bulletin
.CORPORATIONS AND CERTAIN OTHER BUSIKESS-TXPE ACTIVITIES.
Table 5.- Source and Application of Funds for the Six Months &ided December 31, 1955
(In thousands of dollars)
(Continued)
Mai)
mb
81
.
COEPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTIVITIES.
Table 5.- Source and Application of Funds for the Six Months E^ded December 31, 1955
(
In thousands of dollars)
-
(Continued)
82
Treasury Bulletin
.
CORPOKATIONS AHD CERTAIN OTHER BDSINESS-TrPE ALTIVITIKS .
Table 5.- Source and Application of Funds for the Six Months E^ded December 31, 1955
(In thousands of dollars)
-
(Continued)
May
83
i9?6
.
Table 5.
COEPORATIORS AHD CERTAIK OTHER BUSmESS-TTPE ACTIVITIES,
Source and Application of Funds for the Six Months Ended December 31, 1955
(In thousands of dollars)
(Continued)
.
Sk
Treasury Bulletin
-CORPORATIONS AND CERTAIN OTHER BUSINESS-TYPE ACTiVlTIES,
Footnotes for Table 4, Income and expense statement, and Table 5, source
and application of funds statement
(in liquidation), shovm under this heading on
pages 66 and 69 in the April 1956 "Treasury Bulletin," did not have
any activity during the first six months of the fiscal year 1956.
2/ This Corporation was orgaivlzed in accordance with Executive Order
No, 10539 » dated June 22, 1951+ , which authorized and directed the
Secretary of the Treasury to cause to be organized a corporation under
the authority of and subject to the provisions of Section 10 of the
By Executive Order
Rubber Act of 191+8, as amended (50 U.S.C.App.l929)
No. 10539, the President transferred the synthetic rubber and tin
programs from the Reconstruction Finance Corporation to this Corporation, effective at the close of business June 30, 1954-. Any funds
surplus to the needs of this Corporation shall be paid Into miscellaneous receipts of the United States Treasury.
^/Effective July 1, 1954 » the Secretary of the Treasury became responsible
for the liquidation of all lending functions and of World II and production programs of the Reconstruction Finance Corporation, after effect
had been given to transfers to other agencies by Reorganization Plan
No. 2 of 195U.
Figures for source and application of funds of the
World War II and production programs in liquidation are shown on a net
basis.
il/ Includes $1,062 thousand interest accrued on capital stock.
i/ Represents interest on advances from appropriations and on paid-in
capital.
6/ The cumulative unreserved surplus or deficit cannot be segregated from
the equity of the United States Treasury in this Corporation.
2/ Grand total excludes Department of the Treasury - Federal Facilities
Corporation and World War II and production programs In liquidation,
and Department of Commerce - Federal Maritime Board and Maritime
Administration, Total excludes Department of the Treasury - Federal
Facilities Coirporatlon and World War II and production programs in
liquidation (see footnotes 6 and 18).
8/ Since June 30, 195U , this Corporation, which was transferred for
liquidation to the Reconstruction Finance Corporation on January 28,
194-6
has been in liquidation under the direction of the Secretary of
Figures for source and application of funds are shown
the Treasury,
on a net basis.
2/ Pursuant to Reorganization Plan No, 2 of 1954, effective at the close
of business June 30, 1954, the foreign loans and certain other assets
and liabilities of the Reconstruction Finance Corporation were transferred for liquidation to the Export- Import Bank of Washington,
lO/ln accordance with the act approved August 11, 1955 (69 Stat, 640), the
Home Loan Bank Board ceased to be a constituent agency of the Housing
and Home Finance Agency and became an independent agency known as the
Federal Home Loan Bank Board,
ll/Consists of the management and liquidating functions, and the special
i/ War Damage Corporation
.
12/
Ij/
14/
15/
16/
17/
18/
19/
20/
21/
22/
assistance functions of the Association; and the equity of the United
States Government in the Defense Homes Corporation, and activities in
connection with the liquidation of other assets and liabilities, which
were transferred from the Reconstruction Finance Corporation, effective
July 1, 1954.
Represents activities under the United States Housing Act, as amended.
Figures in this column are shown on a tentative basis.
Represents accrual of interest In lieu of dividends on capital stock.
Represents interest on the net direct investment of the Government
In the Corporation (see footnote 13).
Interest and administrative expenses during the construction period
are capitalized.
Represents net income of $29,554 thousand fran power operations, and
net loss of $3 ,616 thousand from nonincome-produclng programs dxiring
the first six months of the fiscal year 1956,
The cumulative unreserved surplus or deficit cannot be segregated
from the Government's equity in the activity, which consists of
expended appropriations and cumulative unreserved surplus or deficit,
Total excludes Department of Commerce - Federal Maritime Board and
Maritime Administration (see footnote 18).
By Executive Order No. 10539, dated June 22, 1954, the President
transferred this program from the Reconstruction Finance Corporation,
effective at the close of business on June 30, 1954,
In accordance with the act approved August 11, 1955 (64 Stat. 644) ,
"Housing loans for educational instltutiona" became known as the
"College housing loans."
The Administration was established In the Department of State by
Executive Order No. 10610, dated May 9, 1955, effective at the close
of June 30, 1955, as successor to the Foreign Operations Administration.
23/
^/
(
25/
26/
27/
28/
29/
•
r
Interest on advances from appropriations; less than $500,
Pursuant to Reorganization Plan No, 2 of 1954, effective at the close
of business June 30, 1954, this program was transferred from the
Reconstruction Finance Corporation,
Represents interest on funds advanced to the Administration by
appropriations
Represents revolving fund, defense materials procurement activities.
Represents purchase of commodities and other costs.
Represents sales and exchange of commodities.
Represents transactions relating to public debt obligations and other
securities. Figures relating to the two classes of investments are
not available at this time,
Less than $500.
Revised,
May
1956
85
.CTMULATIVE TABLE OF CONTEHTS.
June 1955 through May 1956
'
26
Treasury Bulletin
.CUMOLATIVE TABLE OF CONTENTS.
Jxme 1955 through May 1956
-
(Continued)
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