Full text of Treasury Bulletin : October 1947
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
^^ylVP^MENl
C^'-A^ 2-
LfBRARY
ROfllVI
JUN
9
5030
1
1972
TRIASURY DEPARTMENT
DCTDBER-1347
LfPPARY
ROOM «0^0
JUN
9.
1
1972
TREASURY DEPARTMENT
UNITED STHTES TREflSURV_DEPRRTMENT
OFFICE DF THE
SECRETRRV
October 1947
Table of Contents
Page
Treasury financing operatlona
A-1
Summary of fiscal statlstlos
1
Receipts and expenditures
k
Treasury cash income and outgo
ih
General Fund position and debt outstanding
18
Ownership of Oovernment securities
37
Prices and yields of Oovernment securities
'5
Internal revenue statistics
^Z
Monetary statistics
57
Capital movements between the United States
and foreign countries and net
position in foreign currencies
62
Cumulative table of contents, twelve months
11
Note:
In those tables where figures have been rounded to a
specified unit, all calculations (including percentConseages) have been made from unrounded figures.
quently the details may not add to the totals shown.
October 1947
A-l
Treasury Financing Operations
Historical dstalla of treasury market flnanoin^ operation! involTiog bonds,
notest and oertifioates of indebtedness, beginning vith lovember XS^, are
Details of veeldy Treasury
published In the tables on pages 28 and 39bill offerings are shown on page 30,
2-l/2i Treasury Bonds, Investment
Series
Investors
On August 18, 19't-7. the Secretary of the
Treasury announced that a 2-1/2 percent nonmarketable bond would be offered In the latter part
of September.
The principal terms of the bonds
were announced on September 22.
The bonds were
offered on
tion books
bonds were
October
1,
September 29, IS^J and the subscripwere closed on October 8, 13^7. The
dated October 1, 19'+7, will mature
,
I965,
Treasury Bonds,
amount
of
was
not
specifically
Copies
e
bonds may
Secretary of
table
be
called for redemption
subscrip-
support
Subscriptions from commercial and Industrial
banks eligible
subaorlbe
to
crease
In
In
were
the next
excess
of
the combined
limited to an
higher multiple of
25 percent
amount
of
only those
the In-
of
time
certifi-
Issued
in the
cates of
deposit
lut holders will be given the option of rethem on and after April 1, 19't-8, on the
5
names
Individuals, and of corporations, asso-
calendar month, on one month's
A
In writing, at fixed redemption values.
yields and redemption
showing Investment
for profit),
day
..w>.i>»o
required to
tions In excess of $250,000.
$5,000) not
not
Industrial
the financial statements from eligible
of
subscribers were
amount (adjusted to
limited.
and
13^7, as shown by the financial statements of the
subscribers, or $250,000, whichever was greater.
and are designated 2-1/2 percent
The
Investment Series A-I965.
offering
the
commercial
(except
banks) were limited to an amount (adjusted to the
next higher multiple of $5,000) not in excess of
25 percent of the Increase in the aunount of net
assets 1/ between December 3I, 19'l-6, and June 30,
the Treasury prior to matu-
of any
values by six months' periods appears on following
of
ciations,
(but
and other
and
of
organizations not
savings
deposits,
operated
between
December 31, 13^, and June 30, 19'(-7, as certified
by an officer of the subscribing bank, or $25,000,
whichever was greater.
page.
In
available for subscription
account of the following classes
These bonds were
only by
or
for
of organizations
United States,
1.
2.
3.
4.
5.
6.
7.
8.
and funds doing business In the
Territories, and possessions:
Its
Insurance companies
Savings banks
Savings and loan associations and building and loan associations, and cooperative banks
Pension and retirement funds. Including
those of the Federal, State, and local
governments
Fraternal benefit associations
Endowment funds
Credit unions
Commercial and industrial banks holding
savings deposits or Issuing time certificates of deposit In the names of Individuals, and of corporations, associations,
and
other organlratlons not
operated for profit.
Subscriptions
from
or
for
account
of
such
addition
to
the
bonds
allotted
listed
to
the
the
of
Secretary of the Treasury reserved the right to
make an allotment of these bonds to Oovernment
Investment accounts.
subscribers,
classes
above,
were Issued In registered form
denominations of $5,000,
$10,000,
and
(maturity
values).
$1,000,000
$100,000,
The bonds
only,
and
In
Subscriptions were
required to be
rooompa-
nled by payment in full at par and accrued Interest,
if any,
for the amount of bonds applied for.
Het BBsetB, for this purpose, aeant the amount of total
1/
assets less outstanding indebtedness for borrowed money,
and total assets of insurance companies meant the total admitted assets calculated in accordance with the laws of the
States in which the company is organised or licensed.
2
.
..
.
Treasury Bulletin
A-
2-1/2 Percent Treasury Bonds
—
Investment Series A-I965
Table of Redemption Values and Investment Yields
Table showing:
(paying a
percent Treasury Bonds, Investment Series
(1) How 2-1/2
price, payable semiannually)
change
In redemption value, by denominations,
ing successive half-year periods following Issue;
yield on
A-I965
current return at the rate of 2-1/2 percent per annum on the purchase
the purchase price
from
dur-
(2) the approximate Investment
Issue date to the beginning of each half-year
period; and (3) the approximate Investment yield on the current redemption value
from the beginning of each half-year period to maturity.
Yields are expressed
In terms of rate percent per annum,
compounded semiannually.
Maturity Value.
$5,000.00
$10,000.00
$100,000.00
$1,000,000.00
Issue Price.
$5,000.00
$10,000.00
$100,000.00
$1,000,000.00
.
.
(1)
Period after
Issue date
Redemption values during each half-year period
(2)
(3)
Approximate investment yield
on purchase
price from
Issue date to
beginning of
each half-year
period
Approximate investment yield
on current redemption value
from beginning
of each halfyear period to
maturity
Percent
Percent
Not
First 1/2 year
1/2 to 1 year
1 to 1-1/2 years...
1-1/2 to 2 years. ..
redeemable
$4,940.00 $ 9,880.00
4,889.90
9.779.80
4,345.15
9,690.30
2 to 2-1/2 years...
2-1/2 to 3
3 to 3-1/2
3-1/2 to 1;
>i to
4-1/2
4-1/2 to 5
5 to 5-1/2
5-1/2 to 6
years...
years.
years...
6 to 6-1/2
6-1/2 to 7
7 to 7-1/2
7-1/2 to S
years.
years.
years.
years.
.
i to S-1/2 years.
.
.
.
.
.
4,634.00
4,6^5.85
4,64o.90
4,649.15
.
years.
years.
years.
years.
16 to 16-1/2
16-1/2 to 17
17 to 17-1/2
I7-I/2 to 18
years.
years.
years.
years.
9,314.00
9,293.60
9,279.10
9,270.50
9,268.00
9,271.70
9,281.80
9,298.30
9,310.80
9,328.80
9,352.60
9,382.10
9,^l7.70
9,445.50
9,473.30
9,516.10
•+.635.25
g-1/2 to 9 years.
9 to 9-1/2 years...
9-1/2 to 10 years.
10 to 10-1/2 years.
10-1/2 to 11 years.
11 to 11-1/2 years.
11-1/2 to 12 years.
14 to 14-1/2
14-1/2 to 15
15 to 15-1/2
15-1/2 to 16
9,33'+. 70
4,657.00
4,646.80
^,639.55
733. 55
'^,
.
years.
years.
years.
years.
"+,667.35
1^,
years...
years...
years.
years...
12 to 12-1/2
12-1/2 to 13
13 to 13-1/2
13-1/2 to 14
714.55
4,695.90
4,681.05
9,620.30
9,559.20
9,508.60
9,467.10
9,429.10
9,391.80
9,362.10
4,810.15
^, 779.60
4,754.30
4,655.40
4,654.40
4,676.30
4,691.05
4,708,85
4,722.75
^, 739.15
4,758.05
^,779. 60
4,803.85
4,830.85
4,860.75
4,884.00
4,909.50
4,937.25
4,967.40
MATURY VALUEdSyeari
from Issue date)
$5,000.00
I
$ 98,800. 00
96,203.
95.592.
95,086,
94,671.
the
00
00
00
00
94,291. 00
93,918. 00
93,621, 00
93,3'+7. 00
93.140,
92,936.
92,791.
92,705.
00
00
00
00
92,680,
92,717.
92,818.
92,933.
00
00
00
00
93,108,
93.288,
93,526.
93,821.
94,177.
94,455.
94,733.
95,161.
988,000.00
977,980.00
969,030.00
.10
962,030.00
955,920.00
950,860.00
946,710.00
942,910.00
939,180.00
936,210.00
933,470.00
.61
:S
:SI
1.00
1.10
1.18
1.26
1.33
1.40
1.46
1.52
1.58
1.64
1.70
1.76
1.82
00
00
00
00
931,400.00
929,360.00
927,910.00
927,050.00
926,800.00
927,170.00
928,180.00
929,830.00
931,080.00
932,880.00
935,260.00
938,210.00
00
00
00
00
941,770.00
944,550.00
947,330.00
951,610.00
2.07
2.11
2.15
2.19
9,559.20
9,607.70
9,66i.}o
9,721.50
9,768.00
9,819.00
9,87^.50
9,934.80
95.592. 00
96,077. 00
96; 61). 00
97,215. 00
955,920.00
960,770.00
966,170.00
972,150.00
2.23
2.27
97,680, 00
98,190, 00
98,71+5. 00
99, 3^+8. 00
976,800.00
981,900.00
937,450.00
993,480.00
2.38
2.4l
2.44
2.47
$10,000.00
$100,000.00
$1,000,000.00
2.50
Refunding certificate and note
maturities
On August 18, 1947,
$
97,798. 00
96,903. 00
Secretary also
1.87
1.92
1.97
2.02
2. 31
3.i
2.35
securities maturing consisted of an Issue of 7/8
maturing
certificates of indebtedness
percent
an-
nounced the plans for refunding the $6,736 million of securities maturing in September.
The
September
two
1
issues
in
of
the amount of $2,34l million,
Treasury
notes
falling
and
due
October 1947
A-3
September I5,
million and
1-1/4 percent
a
1-1/2
a
•
Issue
of
$1,687
psroent
Issue
of
|2,707
million.
In exchange
there was
maturing
for the
offered, par for
oertlfloates
an issue of 10-
par,
month certificates, dated September
1,
19'*^7i
bearing Interest from that date at the rate of
7/8 percent per annum, payable with the principal
at maturity on July 1, 19'+8.
They were Issued In
bearer form only.
In
denominations
of
On the
Subscription books
August 22.
Issue
the
at
Ezohange
million to be paid In
banks
and
the federal Reserve Bank*.
ship figures
able.
lation
for July 3I
amounts outstanding of
each of
Ootober
1,
the
1S>M.
close
of
subscriptions
for the
learlng
on
new
$132
Maturing issues
casta.
on
maturity
The notes were Issued In bearer
In
principal
at
$5,000,
Subscription books were opened on September 2
and were closed at the close of buslnaes on
Exchange subscriptions for the
September k.
1-1/4- percent note amounted to $1,^12 million,
leaving $175 million to be paid In cash. For the
lubsoriptlons
1-1/2 percent note,
exchange
amounted to $2,380 million, leaving $128 million
to be paid In cash.
the
the three Issues.
Ownership Distribution of Issues
Maturing in September 1947
As of July 31, 1947
business
denominations of $1,000,
$10,000, $100,000, and $1,000,000.
form only,
re-
|1,000,
offered an Issue of 12-1/2 month Treasury notes
dated September 13, 19^7, bearing Interest from
that date at the rate of one percent per annum,
with
The owner-
the latest avail-
are
The following table summarizes the
distribution to
of the ownership
In ezohange for the maturing notes there was
payable
It Is es-
were opened on August 20
to $2,209 Billion,
amounted
reporte to the Treasury on
timated that on July 31, I947, about 60 percent of
the three Issues of securities which matured in
September was owned by
reporting
commercial
15,000, tlO.OOOl $100,000, and tl. 000, 000.
and were closed
basis of
the ownership of Oovernment securities.
Held by
Reporting
Total commercial
outAll
stand- bainks
others
and
ing
federal
Reserve
Banks
(In millions of dollars)
7/8 percent certificates
of indebtedness due
2,3'H
1,519
822
9/1 5/^
1-1/4 percent Issue.
1-1/2 percent issue.
1,687
2.707
706
,787
981
921
Total
6,736
4,012
2,723
9/l/»^7
Treasury notes due
=
(In percent
7/8 percent certificates
of Indebtedness due
9/l/'^7
Treasury notes dne 3/X^7',
1-1/4^ percent Issue
l-l/2j{ percent issue
Total
100
65
35
100
100
100
42
66
60
40
October 1947
SUMMARY
OF
FISCAL
STATISTICS
t
Treasury Bulletin
Budget Receipts and Expenditure*
(In llllont of dollari)
nrtt
Co^loto riookl 7«*r«,
2 aoatht,
fttoal
mart
19W
19U6 to 19Ug
to 19'tg 1/
Chaa^
Oliaa««
19>«6
19'»7
19>t8
ig"*?
to
19)te
19>*<
Ittlaatol
19'»7 to
19lt8
•atlaatol
I9U8
19"»7
1/
Hocolptoi
Zntorud roToan«t
iDooao and profit* taxos
Biployaont taxoo
Nlioolluoona latonud r«T«ra* 2/
Ouotoai
Otfaor raoolpti
1,306
595
Sk
IM8
68
U77
-16
-IX
"35
3,"93
S,035
5,317
5,333
*l6
"",239
«5
y
Total roooipto
Loot:
Vet ^>proprlatloaa to 7oderal Old-A<o and AirrlToro laonranoo Trast fond
let bud^t reottlpta
4lt8
3,002
369
1,375
372
1,595
3,050
1>32
30,885
1.701
7,725
29,306
28, 906
2,02l»
2,258
8,03"
-"00
+23"
-15
",829
"<3
3,532
-31
-1,297
"",703
"3,193
-1,510
8,0"9
lt9U
3l<S
i^
"00
^5
1,201
i.Wih
1,526
5,692
'.973
••,93"
-39
"3.038
"3,259
"1,667
975
1,070
88U
687
-91
-383
27,800
15,161
7, "25
6,10ft
U.IHl
",99«
",0"0
-1,325
-958
+80
+8
-1.795
SS*
229
-"25
5,581
l,8"7
139
2,733
191
8
i.^a
962
-1.771
13,725
2,«99
1,«87
-812
"<,5"2
17,1"2
11,293
-5.8"9
-139
-23
-328
",253
",722
3,087
7,299
",958
3,o"l
7.317
5,12?
g,05»
+98
+167
-987
-l»90
12,002
15,258
1","96
-762
159
"76
950
67"
325
-1,592
llpendltureat
latlon^ defanae and related aotlTltleat
Var Departaant
laT7 Dapartaant
Anad Toroea Laare Idt of 19^'
Bonda
•
Caah
Mlaoellaneoua var and dafenaa aetlTltlaa.
total.
Teterana* Adalnlatratlon, Intareat on pobllo datot,
and refunda of taxe* and dntleei
Teterana' Malnlatratlon U/ 2/
Intareat on the publlo debt
Bafnada of taxea and dutlaa
total.
80
Mm
1,21>»
255
613
371
550
1,075
3"9
222
1,3'W
2,136
l,6>t6
International flnanoei
Bretton Vood* A^eeaenta Aot:
International Bank
International Monetarj fund....
txport-I^ort Bank - capital atook.
Credit to United lingdoa
Porei^ aid and relief
1,300
5
9
iwo
1.305
*905
55
1,083
298
66
U20
169
;o6
105
693
186
692
-978
+37"
+17
+186
Total.
Aid to acrieulture kj
Social 8«earit7 prograa kj 6/.
Public worko
Other general ezpendituraa U/.
Baeerre for coatingeoelaa
Coaaodltj Credit Oorporatioa.
Other
I3U
M
or defialt (-).
Dftlly TT«A«tir7 Stkt«K«nt, except
-950
-325
-350
2,050
1,700
l,g37
833
3,801
2,937
-B9t
980
852
"07
1,"03
2,299
1,07"
1,038
2,208
1,058
1,616
1,251
-l,2l»l
1.237
+5"2
+213
+1,365
+25
97
-21
102
«5
328
-23
138
215
272
37
150
-36
+96"
-39
-1,0""
'$66
-1,076
20
"59
+1,096
+51
751L
+1,066
91.
-81>t
-65
3
-73"
216
+950
-1,305
-31"
16,112
6,576
6.730
+15"
63,71"
"2,505
37,000
-5,505
10,"»19
-1,603
-1,796
-192
-20,676
+75"
»,667
3,913
Total
Total budget expandituraa.
Budget anrplna
319
1,000
-1.76
25
OoTernaent corporatlono (wholly owned), eta. (net)t
Beoonatructlon Tlnance Corporation:
National defenee and related actiTitiea
Other
Source
-100
100
300
«
notad.
Baied upon the I9U8 Bodgvt docMnant ai rerlivd Au^st 20, 19^7*
Include! chiefly alcoholic berera^ tszaa^ tobacco taxes, KanuTactureri' and retailers* axclee taxes, and estate taxes.
Includes deposits resulting from the renegotiation of war contracts,
Infomatloa on the aaount of such deposits is not arallable on th«
basis of Dally Treasury Stateaents. On the basis of aomrlng warrants, such deposits were as follows:
fiscal year 19^, ll-,063
allllon and fiscal year I9U7, $279 alllion. These figures include
so-called Toluntary returns.
Includes transfers to trust accounts, etc.
Includes expenditures for public works undertaken by Teterans* M-
>I08
IniatratloB.
§/
Includes railroad retlrevent and railroad \ineaployiient actlrities
and excludes expenditures made by Departaant of Labor, Q. 8. kploySerrlce (foraerly Office for kergency Kanageaent, War Manpower
CoaalssloB, Q. S. ^tloyaent Sarrlce), under authority of the Social
Sacurlty Act.
Kffect of cancellation of S.7.C. aotes to the Treasury, estlaated
at I9UU allllon In the Badget Reriev of August 20, 19'*7, has been
excluded both froa general expenditures and from corporation receipts (negatiTS expenditures] InaSDuch as the transaction will
not appear In the Dally TreaBui7 Stateaent,
•nt
"Jj
October 1947
Public Debt and Guaranteed Obligations Outstanding
(In
llllont of loUari)
Treasury Bulletin
RECEIPTS
AND
EXPENDITURES
October 1947
Budget Receipts and Expenditures
Table 1.- Baamary by Major Classifications
dm allUsu *t dsllwi)
hpaBdltnroa j/
B«o«tpt»
Total recelpto
riioal jear
or Bontk
Total
rooolpts
Intorntl
roTonuo
Oattcna
Loet nat
appro prlatloma
to Tkdaral
lat
01(l-i«a ant
raoalpta
BorriTora
Zaauranea
Other
rooalpta
Oanaral
igui
19U2
S,2tU
5.668
5.935
8,269
13,668
19*3
19IW
ll5,M08
19li5..»
'»7,7'<0
19W
W»,239
IA.703
19I10
19*7
19U7'-Jannar7
5,671
5,161
5,303
7.362
12,993
22,1>A
•1.685
13.902
359
319
3I9
392
389
J*
131
208
188
273
515
286 5/
V
y
916 V w
lto,3l0
355
135
3.'t93
39.379
U9I1
1,829 t/
3,860
Tabmazy.
*.'27»
5,73*
5.UW
39
398
333
239
iprll
*v
2,62lt
3,aoi»
Jnna
5,H«o
2.309
2.578
3.993
11
37
35
271
589
1,152
July
2,1(69
ixgoat...
2,865
2,126
2,662
37
31
306
171
i/
5/
260
.283
Maroh
Sonroai
3«7
503
538
661
869
p
201
l.Utl
10
261
21
68
339
7
71
328
routed
Transfer*
to Crnat
aocomita,
eto.
oorporatlone
(whollT
owned/,
etc.
(net)
Budftt
anrplna
() or
deficit
(-)y.
1,029
1,206
1,657
6,079V 6,301
26,011
6,005
225
187
232
331
381
-208
320
29?
1,051
1.893
5,635
6,119
8,730
11.559
21,323
72,109
87,039
90,029
I8,5l2
17,112
135
556
1,616
1,918
1.355
1,523
1,829
3,113
3,911
3,598
1.523
2.173
2,063
l,1l2
I.I57
1,128
71
108
+706
1
106
2,102
2,556
2.865
5.173
1,001
3,851
5,510
2,206
2,706
3,059
1,728
1,327
1.193
16
132
20
-611
970
-1,115
-987
-67
2.397
2,536
3.669
3,060
2,075
1,729
979
9O8
5I9
65
151
-1.272
-521
5,855
5,165
5.387
7.607
12,799
7,031
9,027
9,297
13,765
3«,290
5,985
7.313
7.109
22,282
1U,ll9
16,157
13,038
13,259
79.702
95,573
100,397
63.711
12,505
3,820
1.378
5.701
^
Xklly fraaavzy Itftteaant.
Ixeludst aBOOBtt for paMle d«tt retiraaent vhleh are chareeaM*
to the ilaklnc fond, eto. under epeolal prerlelone of lav.
for es^lanatlea eoe tables irtiloh follov entitled 'Social Saetirlty
Prograa."
Hot reeelpte leet total azpendltorei.
Inclvdee reeorerlea ef V. 8. iBTeetaentB In capital fonde. Soch
reoorerlee totaled $^ Billion in the fleeal 7«ar 19^0; $319 alllion in the flical year I9UI1 $18 aillioD In the fleoal jear 19^2)
and $10 allllen in the fleoal 7««r 19U3<
dafoDia
and
astlTItlOi
Tmat Toni S/
193<
1939
Ooremaent
atlonal
Total
axpandltvrea
6/
273
-57,120
-51,l2l
-53,911
-20,676
+751
-•161
16
18
-31^862
-3,910
-6,158
-21,191
Seealpte froa rednotloni In capital etock and pald-la nrplue
aTallable to be relasued nadar ezletlnc lav are included ae negatlre
itens nnder ezpendltoree. 8ach redaotlone totaled $315 alllion.
Includee depoelte reralting froa the renegotiation of var eontraote.
Infomatlen on the amoniit of such depoeito ii not aTailable on the
basil of Sail/ TreasQi7 Stateaente. On the baaie ef eorerlng varrante, such deposit* vere as follovei
fiscal jear 19^3» $35^ alllioni fleoal year 1944, $2,233 Billion: fisoal ^ar 19^5. $2,04l
Billion) fisoal rear 1946, $1,063 illion; and fiscal yesr 1947,
$279 Billloa. These flgorea Inelode so-called. Tolnntary returns.
Table 2«- Analysis of Receipts from Internal Revenue-^
(In Blllione of dollars)
Atployment taxes
Incoae and profits taxes
fiscal year
or Bonth
Social secnrity taxes
lotal
fotal
1938
1939
19I0
19II
19I2
5,671
5,161
5,303
7.362
12,933
2,6l0
2,189
2,125
3,170
7.960
1913
1911
19I5
19I6
19I7
22,111
11,685
13.902
10,310
39,379
16,091
31.655
35,173
30,885
29.306
1*271
5,116
19lT-Jasnar7..
February.
March....
.^rll....
Hay
Jona
July
ia^et.
Source:
1/
.
Vltbhald by
aoployers 2/
Other
a/
lotal
^
fttderal Instiraaoe
ftoderal nneBiployment
Contribatlons Act
(Old-age ineurance)
Tax lot (TTnenployBont Ineurance)
90
101
108
,186
511
530
60I
691
896
16,091
26,262
2l,8Sl
21,193
19,292
1,198
1,739
1,780
1,701
2,02l
5I6
1,376
785
2,117
l,8l5
3.865
58
387
1,597
1,619
3.270
581
1,218
778
1,012
loo
2,192
361
121
3IO
8
1,382
1,668
625
1.255
757
113
80
352
72
329
2,510
2.189
2,125
3,170
7,960
8,393
10,289
9.392
10,013
2,661
3.222
1.650
2.309
2.578
3.993
2,126
2.662
755
7I0
833
925
Receipts of Victory taxes withheld pursuant to the Eevonue
Act of 1^42 have been classified as "Other" Income and profits taxes.
Tot the period prior to Septamber 1939, the data In the columns
entitled "Federal Insurance Contributiona Act" and Federal Tftiem-
4/
^
retlroDont}
98
120
2,279 5/
2,232
2,315
2,967
3,8l7
1,130
1,292
1,310
1,238
1,159
158
180
185
180
185
209
267
285
283
380
1,553
5,2?1
6,919
7,725
8,019
12
11
116
1
693
666
682
69
Dally Treasury Statement.
For further details, see ch^ter entitled "Internal HeTenuo Statie-
tSiSfeS"^
MlacellaaeoUB
Internal
reTemie
150
109
121
137
170
266
25
Hi
tlcs."
2/
Taxes o& carriers and their
^
12
1
12
1
5
77
3
12
112
2
6
9
13
638
595
602
663
6I3
ployaent Tax" represent collections under Titles 7III and IX,
respactlToly, of the Social Security Act.
Levied under the Railroad Retirement Tax Act commencing January 1,
1947: prior thereto under the Carrlors Taxing Act of 1937.
Includes less than 1500,000 in receipts, froB "Agricultural Idjustnent taxes."
.
Treasury Bulletin
Budget Receipts and Expenditures
-
(Continued)
Table 3.- Analysis of General Expenditures ^^
(In Billion* of dollars)
Veterans' Adniniitratlon,
iatoreat on public debt, and
refund* of taxe* and duties
Tlscal yaar
or Bonth
Total
general
expendituree
Total
Teterans'
AdBinistration
iJ 2/
19111
5.985
7,313
7.109
6.079
igitf
6,005
1.567
1.56U
1.687
1.751
1,906
IS"*?
191*
19"^
19U6
5.635
6.1(9
*.730
lit. 559
2.U56
3.500
6.258
10.620
93U
2.871
I9't7
2l»,323
llt.UDl
6.Ult2
19't7- January..
1.523
february.
2. '•73
960
850
1.552
5U9
5U5
565
1938
1939
19U0
March
2,063
April
2,206
2,706
3.059
»V
Jun*
.
—
July
Aogaat
.
.
2,075
1,729
582
557
557
553
555
572
629
Interest
on the
public
debt
Other fl*naral expenditures
Refunds
of
taxes
and
duties
926
59
9111
66
1,01*1
89
87
91
Aid to
a«rlCTiltur*
Social
Security
procraa
i/5/
U,Ul6
5,751
1,228
5,1*21
1.51*1
392
831*
335
PuWle
works
u
International
finance
1/
CiTilian
Conservation
Corps
Olract
and
work
2/
2/
801*
326
,000
81*7
5*57
738
290
283
257
U,099
1.098
515
680
163
76
3,178
2,61*9
2,1*72
1,093
912
't.722
262
1,707
3,027
U,958
3,0ltl
68
563
65
12k
626
181
361
1,623
512
1.111
1.260
1,806
2,609
3.617
1*,327 10/
3,938
9,882
1.329
59''
l,2ltlt
581
lUl
92
593
571
1.1*63
2.389
583
1,396
uio
670
1,170
1,028
901*
539
2U5
120
701
l»95
103
103
877
91*9
SI"*
5»*3
529
"33
7635/,
1*97
998 11/
2,299
550
767
S07
1,038
833
3.801
69
81
98
71*
86
26
65
200
1.209
200
16
72
69
78
1*50
93
93
700
605
W
97
7U8 5/
80
21*
92
80
70
359
300
nlUf
1.1*76
Othar
1/
October 1947
Budget Receipts and Expenditures
-
(Continued)
Table 4.- Analysis of Expenditures for National Defense and Belated Activities
(Id million* of dollart)
or BODth
Dtpart-
Dapart-
Araed
force*
L*«T« Act
ent
•nt
of I9M6
Cur*
DapartB«Dt
1/
Tederal
Ui-
Secu-
Work!
HoUBlD^
and
Hone
Tl nance
i«eney
• ral
rity
i«eac7
SelectlT* TreaaSarrlce
\II7
(adilnli- DeparttratlTa) ment
United
Var
Ship-
Statai
Marl tine ping
CoiuDle-
Adaln
to
Chin
• lon
Bonds Gash
1.029
1,206
1.657
6.301
26.011
1938
1939
igw
19U1
19kl
1*32
1(90
667
3.678
111.070
1
596
673
892
2.313
8.580
1*U
99
696
Source:
1/
691*
1.367
12>t
271
71*
2
5
1
2
1
13
-38
-27
1
u
8ltU
267
91
35
21
362
383
1
1
3
3
63
368
36
u
6/
k
6/
l.'t93
.
695
31*
-lit
June
.
llO
lUO
120
23
23
W5
.
1.105
1.922
2.0ll2
2
2
2
735
707
979
9O8
2.776
3.812
3.227
1
1.728
1.327
July
Aagust
1,201
-98
Itaf
ijprll
52
59
63
52
20
50.337
27.800
l.'»57
132
278
269
303
It9.2l)2
1.U12
929
80
99
1.U28
.
51
519
91
353
351
359
19U7- January
Tebruary•
March
2U
33
139
6¥t
57U
611
S.5><2
17.1112
19't7
18
6O8
539
ia.2i;
319
2,011
2.11*3
6
u
1*0
70
'I
6/
Dally Treasury Statement.
Lees than $500,000.
Administrative expenses In carrying out provisions of Act are
Included under War, Havy, and Treasury (Coast Ouard) Departments.
?ormerly National Housine Agency; includes war public housing
functione.
Includes war expenditures of Commerce, Justice, Interior, Labor, and
State Departments; Civil Service Coomlsslon; Executive Office of the
President (including Office for ftnergency Management); Panama Canal;
Includes Iteand capital stock of Smaller War Plants Corporation.
fense Aid Special Fund through the fiscal year 19^3: thereafter
108
382
U5
297
215
228
185
1.8l»7
19U6
62
153
133
122
60
16
7. '•25
I9't5
62
111
1.198
l.OUl
-17t
20.888
26.538
30.0»7
15.161
U,998
72.109
•7.039
20.029
I9't3
i9UU
Other ilaSurplus tlonal daproperty feme and
dlepos^ related
and
Behabll- ageaclee actlTltlei
expendiItatlon
tures 2/
Onlted
Hatlone
Belief
Ml
U/
5/
6/
1.1*32
1.1*62
3
20
2
12
2
2
-3
3
-1
6/
1
it
V
611
661)
106
1.501
1*1*2
307
102
103
1*5
25
%
12
15
189
101
132
51
20
16
12
81
1*9
53
>I0
52
5/
-9
3
795
991
1,022
llU
5/
6/
such expenditures are reflected within the respective departments.
Classification changed to reflect expenditures under "National
Defense and Belated activities." Prior year expenditures are
Included under "General."
Sffective September 1, I9U6, expenditures of the War Shipping Administration are Included with the expenditures of the U. S. Marltime Commisaion to which all functions were transferred for the
purpose of liquidation by December 31, 19^6, pirsuant to Sec. 202,
public law U92, approved July S, 19^.
Hot claaslfled separately from other expenditures of these agencies
after June I9U7
.
Table 5.- Analysis of Expenditures for Transfers to Trust Accounts, Etc,
(In Blllloaa of dollara)
fiscal year
or month
225
187
232
331
1938
1939
igiio
191*1
381
191*2
projcraa
1/2/
i/i/
10
107
121
132
1
11*5
221
1*1*
191*1*
556
191*5
1.61*6
19116
I.918
1.355
71
16
27
16
1
1
191*7
19l*7-Jenuary.
February
March...
i^rll...
lUy
June ....
1*6
1
U32
1*32
18
18
July
51*9
25
16
273
ce:
'
1/
2/
Dally Treasury Btataaent.
Less than (300.000.
Additional transactions are shown In Table 3.
Conprlses Adjusted Serrlce Certificate Fund and the Hatlonal Serrlce
Life Insurance fund, administered by the Veterans' Administration.
Oovernment
aaployeaa'
retirement
fund*
(U.
li*6
30
101
1,126
1,381
817
191*3
Social
Security
Teterana'
Admlnlat ration
27I*
318
302
308
S.
agriculture
l/U/
*hara)
Federal
contribution
to District
of Columbia
73
75
87
93
103
107
177
197
18
91
126
71
-3
2l*7
223
1^
521
2
21*5
^
^
Ineludas railroad retirement and railroad unemployment actirities. Tor
further explanation see tables >Aich follow on Social Security Prograa.
fiepresents transactions in coanodity food stamps by Department of AgriCTilture.
This activity formerly came under the Office of Distribution and prior thereto under the Agricultural Marketing Administration.
.
'
Treasury Bulletin
Budget Receipts and Expenditures - (Continued)
Table 6.- Analysis of Expenditures of Government Corporations (Wholly Oimedl, Etc.
(In
Tltoal yaar
or aonth
Total
OoBmodlt/
Orodlt
Corporation
Ixport- Import
Sank of
Vatblngton
fadaral
BOUBiD£
Adminlatratlon
(Net)
BlUiona of dollari)
Ptt^lllC
Hooa Owners
Loan Corporation
Bousing
IdBlnlBtratlon
Reeonatructlon nnanoe
Corporation 1/
Batlonal da fen ^a
and ra 1st ad
Hural Hactrlfl cat ion
AdalnlatratloD
Othar
actintlaa
-208
320
29?
l.OS*
1.893
193«
1939
19>0
ig**!
li^z
19W
1.523
1.829
-7
-1,305
19't7
-3li*
19>»3
19IA
19U5
19l»7-January.
Tebniarx.
March
iprll
May
Jun*
Jul7
ce;
.a.
•
1/
2/
y
108
-32
106
20
-6lU
970
-18U
136
210
3t7
2U2
-193
225
"71 2/
-LOW
1
55
17
-5
-«
-5
3/
-1,076 5/
-106
613
-9
2U7
3U
-60
-"40
U2
->»3
35'*
371
-1
-1
2,255
-319
1
-5
-59
75
-1
-71
-363
-396
-323
-275
-202
3.189
2,682
U72
328
-727
-2U7
-288
-23
215
1
-37"
-1
-3
-7
-3U2
-159
-30
27
-19
-16
-16
-102
-73
3
Ul
17
50
-87
-59
676
-35
-IS
119
-239
-256
.6
-2
-5
-20
-1
-3
15
12
1
1
-1
101
-39
-21
78
76
103
-2
1
-3
-9
28
73
83
81
-1
6
«
-6
-1
-15
-13
-IS
-9
lU
-2
-2
n.a.
a. a.
-12
-16
-590 U/
^
116
65
8
151
Iks
3
Dally Treaiury Stat«aeBt.
Hot arallabla.
Lesi than $500,000.
Incluilee transactions on acco\int of RK Mortga^ Coapany, Tederal
Hatlonal Mortga«« Assoolatioa, Office of Motals Bosonrs, Office of
Rubber Reserve, Office of Defense Plants, Office of Defense Suppiles, V. 8. Coaaerclal Coapany, War Daaa^e Corporation, and &ibber
DeTelopaent Corporation.
Includes Tederal Crop Insurance Corporation, 7ar« Security Adalnlstratlon, federal 7ara Mortgage Corporation, Federal Sarlngs and
Loan Insurance Corporation, federal Intermediate Credit Banks Production Credit Corporations, and Tennessee Valley Authority.
Payaents of 1957 allllon »ere aade during the fiscal year I9U6 by
the Agriculture Departaent (charged as war and defense activities)
UJ
I^
83
19
1
8
-2
11
-3
1
-8
7
-33
n.a.
n.a.
55
-23
37
-2
-6
to the Coaaodlty Credit Corporation In relnburseaent for agricultural oomsodltles procured In connection with the lend-lease prograa
and reflected In previous expenditures of the Consodlty Credit Corporation.
Similar payments during the fiscal year 19^ amounted to
$1,182 allllon.
The act of May 26, 19''7, authorised the Secretary of the Treasury to
cancel notes of the Commodity Credit Corporation In the amount of
allllon for the restoration of its capital impairment. This
amount is treated as a general expenditure with a corresponding
credit under Oevernaent corporations (wholly owned}, etc. (net).
A similar payment of $921 million was made In July 19"46, pursuant
to the act of July 20, I9U6.
Not classified separately from other expenditures of the Corporation after June I9U7.
$^
^
13s
•
October 1947
Budget Receipts and Expenditures
-
(Continued)
Table 7.- Total Budget Receipts and Expenditures by Months, Beginning with 1038
(In nlUlona of dollars)
Apr.
Calendar year
Haf
Jiina
Julor
Aug.
Sept.
Net budget receipts 1/
1938.
1939.
291*
19W.
315
19l»l.
3I1O
51*1
916
687
799
1,566
19112.
578
758
3,5117
19''3.
788
191*11.
2,7117
955
2,503
3,767
3,678
5,206
6,573
6,892
li,37S
5,701
308
367
271
3,556
3,819
3,820
19115 •
191*6.
19117.
lilil*
262
213
5,7lt7
373
77I1
678
676
711
1,135
2,527
300
279
333
I1I15
56I1
607
601
2,721
2,568
2,997
5,l*li7
2,099
2,li3ll
U,li78
2,030
2,001
2,530
2,544
718
741
759
1,874
5,931
737
721
869
2,083
5,937
646
648
817
,858
,363
7,535
7,930
6,611
2,851
7,456
8,024
5,950
3,023
273
265
lili9
1,276
331
U13
I1I17
2,li92
7I17
3I17
557
30I1
iiOO
6I19
565
695
39I1
563
l,51li
l,lt8o
3,087
2,929
2,677
2,556
2,950
3,085
2,733
2,865
11,569
6,21i7
2,007
2,163
2,695
2,539
2,397
5,9111
U,U79
5,li73
372
397
587
5,926
5,189
672
521
740
1,212
2,701
5,650
4,918
5,834
8,849
16,403
5,736
5,416
4,118
4,107
34,554
44,421
46,046
41,601
830
832
1,172
2,542
6,500
8,097
8,885
9,657
19,053
56,020
7,839
7,828
4,656
2,557
7,452
8,416
3,618
88,084
97,158
90,552
45,804
8,135
5,695
2,965
7,946
4,581
2,529
8,420
5,013
3,662
89,640
44,113
-296
-284
-455
-1,294
-5,761
-157
.311
-432
-1,329
-3,799
-2,447
-3,967
-3,823
-10,204
-39,618
-5,740
-5,587
-2,28e
-193
-1,716
-2,999
-1,327
+490
-53,530
-52,737
-44,505
-4,204
-5,700
-2,208
-165
-3,004
-895
+445
-43,594
-2,512
350
36I1
362
2,2ll0
2,3711
2,364
2,536
Budget expenditures 2/
Excluding net expenditures of Government corporations (whollor owned), etc.
A.
492
656
712
1,111
1938.
1939.
1940.
1941.
1942.
2,628
6,372
7,570
8,202
4,891
3,005
1943.
1944.
1945.
1946.
I9I17.
474
612
668
1,075
2,629
6,119
7, 3511
7,862
7,460
3,510
3,946
8,525
B.
631
730
705
820
822
1,399
3,421
9,1133
4,602
3,li92
,
783
1,315
3,753
930
895
887
1,528
4,530
725
764
818
1,598
5,160
774
706
1,529
5,215
7,466
7,859
7,968
4,251
3,981
7,435
8,292
9,275
3,677
4,4o6
8,327
8,625
9,641
5,513
It, 570
7,112
8,110
3,557
4,514
3,6oU
7,617
8,119
7,354
2,796
2,909
Including net expenditures of Government corporations (wholly ovmed)
8,100
8,821
3,644
3,669
1944.
I9I15.
8,239
4,860
3,113
1946.
1947.
645
566
694
647
1,141
3,953
7,281
9,266
3,1*35
3,91'*
3,ai'5
3,598
7,901
4,268
4,001
9,112
3,864
3.851
9,752
5,352
5,51*0
8,344
7,291
2,932
3,060
,
etc.
7,902
6,687
2,755
^
Budget surplus (+) or deficit (-) 4/
A.
-198
-385
-398
1938.
1939.
1940.
1941.
1942.
-771
-2,050
1943.
1944.
1945.
1946.
1947.
-4,823
-4,645
-1,073
+814
-5",
584
-166
-245
-224
.534
-1,871
+212
-5,164
-5,359
-3,693
+168
-2,147
-1,952
-2,540
+1,146
+432
+2,209
B.
1944.
1945.
1946.
1947.
-4,683
-1,042
+706
Source:
1/
2/
Excluding net expenditures of Government corporations (vholly owned), etc.
-132
-22
+167
+126
-369
-517
-479
-750
-3,058
-193
-348
-247
-747
-3,391
-156
-339
-237
-252
-2,037
-451
-499
-487
-1,185
-4,413
-5,952
-4,772
-5,040
-1,573
-1,424
-5,955
-3,758
-2,378
-5,91*7
-5,31*2
-6,190
.944
-1,601
-5,105
-5,862
-1,975
-1,207
-3,72-?
-1,03''
+903
-402
-258
-1,133
-40
-65
-48
-739
-4,628
-3,404
-437
-442
-536
-1,637
-5,331
.4,896
-5,551
-2,087
-2,004
-1,422
+1,627
-5,426
-6,023
-3,420
-479
-195
-'',357
-363
-373
Including net expenditures of Government corporations (wholly owned), etc. ^/
-3,511»
+243
+464
-2,373
+1,902
+2,102
-4,972
-1,591
-1,445
-6,028
-1,131
-987
Dally Treasury Statement.
Total receipts less amounts transferred to Federal Old-Age and
Survivors Insurance Trust Fund.
Excludes public debt retirements.
-5,937
-6,126
-1,105
-1,272
-3,838
-873
-67
J/
4/
-5,776
-4,293
-499
-524
-1,976
-1,497
+1,723
•6,134
-3, 165
-420
Monthly figures for the period January 1938 through June 1944 are
not presently available.
Net receipts less total expenditures.
I
s
..
.
Treasury Bulletin
10
Trust Accounts, Etc., Receipts and Expenditures
(In mllllone of dollars)
Fiscal year
or Bonth
1938
1939
Total trust
funds, etc,
[net receipts (+)
or net
expenditures (-)]
+1,20U
igito
19U1
19O8
191*2
-1,613
19^*3
igitU
-338
-2,222
+791
igiis
I9it6
igUT
igltT-January.
February
March.
.
1
Federal Old-ige and
SurrlTors Insurance
Trust Fund
Het
+1
+1
+3
+10
Becelpts
National Service Life
Insurance Fund
Sxpendltures
Beceipte
Expendl'
1402
1(01
+12
530
580
717
529
577
707
931
+1
+11
+1
-U
1,185
1.357
1,377
-23
.6hh
-U
+11
+26
+19
-11
l,50l(
320
893
2,102
2,332
1,516
36
38
279
-2
+6
70
65
72
60
-2
1*7
1(8
91(0
U
3
36
1(6
316
905
2.127
2,351
1.399
1.567
1,508
1,280
1,289
+9
+5
-6
101
175
50
218
-8
+6
-10
251
117
71
65
+9
+3
-125
*317
-33
+38
+227
-2U6
7U
26U
+26
68
339
1(1
+5
53
1(8
Ul
-15
107
+9
'73
228
1*88
'»65
-5
66
July ....
-129
Aa^st.
+206
-63"*
+298
-358
+71
+2r7
I,'' 1*9
1.607
33
71
328
-11
Ua
Trust Accounts, Etc., Receipts and Expenditures
Ballroad Retirement Account
Expenditures
763
83s
959
l,Ul(
-6
+3
-1
+32
-23
-52li
-5l)«
1,1(07
Receipt
+1
1,190
1.363
*269
(99
Het
tures
+6
+6
+30
+26
-37
April...
May
June ....
Uneaployuent
Trust Fund
751
837
957
1,118
Receipts
+e
+2
-2
+11
Izpenditures
11(8
11*6
109
123
127
107
125
116
IW*
1,21*3
11*1*
1,1(01*
1.561*
221
273
1.508
32I*
l,2l*8
312
323
275
323
308
322
1*1*
1*3
1.312
91
171
55
217
1
1(6
1)6
127
22
21
1*9
39
512
511
21*5
2"»2
1*3
21*5
1
(Continued)
(In millions of dollars)
Increment
on gold
Other trust accounts 1/
Fiscal year
or month
Receipts
-1*
1938
1939
+2l*
•65
+C0
191*0
19U1
323
3U9
366
1*06
Sxpenditurea
327
325
331
386
Seigniorage
on silrer
Set
Net
-51
-5
Special deposit
accounts and miscellaneous funds 2/
+90
+90
+»*9
+20
+11*
-U
-16
+61
-2
+116
191*2
+1*6
1*72
1*26
+92
+129
+620
-110
-302
658
1.693
2.135
1.505
567
820
1.072
+5
53
+237
+118
296
160
-11*6
April...
May
June.
+85
-185
lUl*
-11*6
+101
-39
-ll*0
21*9
389
-1(6
July ....
+1*
87
83
+61
31*5
281*
-51
+U3
191*5
191*6
191*7
19U7-January.
February
March...
.
Ao^st
Source
.
.
.
91*9
+1,106
+288
+652
-1.809
+261*
-691*
-2.871*
1.807
+503
+1.669
-6U7
-372
1*2
-1*1*
-75
-113
-56
+102
+39
-7
-3
-93
+67
+37
-12
-ll*6
-3
-173
2.2l*5
+2 1*8
-1.553
-95
-359
+71
Sftll^ trttaaurj Statenent.
Less than $300,000.
RerlBel.
(See footnote 2.)
Includes OoTemaent retlreaant fonda, eto
CoBprlsea Pablle Vorke Admliilatratloii rerolrln^ fund, apeclal
deposits (net), and, during the flao&l years I9U0 throu^ 19^3,
.
^
Clearing
account
etc.. in the
market (net) 2/
191*3
191*1*
Sales and redemptions of
obligations
of QoTernment
corporations,
+555
+3
transactions In AOstBOdlty food %tavpa Iqr the department of Agrlculture. CoKEiencln£ Joly 1, 19^3. snoh transactions are classified
as "Other trust aooounta-'
Het receipts In this column oonatltute net sales, end net expenditures eomtltute net redenptlons of obligations.
11
October 1947
Social Security Program: Section
I
Budget Receipts and Expendltu^eB
-
Table 1.- Social Security Act
(In BllllonB of dollars)
Bcoalpta
Oroaa raoeipta
TlBCal year
or aoBth
Soolal Saourlty taxaa
Total
Federal Ineuranoe
Contrltoutlone let
(Old-age Insurance) 1/
SOU.U
631.2
712.2
788.2
1,015.6
1,288.9
Tedoral TTnamploynent
Tai Act
(UnemployiDent InHurance) 2/
Leas amountB credited
to Ifederai Old-Ago
and SnrrlTorB Insurance Trust Fond
Het
receipts
^
217.1*
191A
19"^
l,l»72.0
19W
1,1*18.1
530.U
60U.7
690.6
895-6
1,130.5
1,292.1
1,309.9
1,238.2
17? -9
387.0
503.0
537.7
661.3
868.9
1,103.0
1,259-5
1,283.0
1,200.8
ighT
1,61*1*.3
l,'t59.5
1W.8
l,itU3.9
200.1*
56.7
t2.3
266.2
25.U
IM.U
115.8
12.0
26lt.l*
23.6
16.2
117.7
13.9
3.5
11.9
1.3
67.8
339.2
6.8
U.7
13.1
2.5
2.1
9.*
71.'«
3-1
328.3
10.1*
193«
1939
19IK)
19IH
19U2
ig"*?
1,1*91*.
igUy-Jsmsry
.
-
382.0
Tebruary
Maroh...
April
Hay
June
.
37.
>»
.
.
July
incciat
352.3
9.3
31*0.
7>*.l*
72.
158.4
179.9
1W.9
7.9
329.3
338 T
.
U9.9
69.0-
72.fi
.
90.1
100.9
107.5
97-7
51U.1*
128.2
n't -5
126.9
11*6.7
I85.9
212.5
211.5
217.*
Expenditures
Qranta to States
fiscal year
or month
tratlTe
expeenses
Total
Total
Aid to
01d-a«o
dapend-
Aid to
the
assistent
kllBd
ance
children
191*6
1*91.3
5'*3.5
19'»7
757.7
2l*.9
724.1
182.2
208.8
227.6
260.1
299.1
316-9
360.6
333.6
361.2
515-7
68.1*
2.2
2.3
2.3
65.2
77.6
21.6
52.5
13.2
1938
1939
1950
3325
191*1
1*1*9.1*
191*2
50l*.i*
191*4
527.2
52U.2
3'»3.3
381*.
Ig^
19l*7-Ja>iuary..
February.
Mardi....
April....
80.
2l*.fi
15.5
M«7
7
'U:
June
July
An^st
Sooroei
•
1/
^
3/
k/
. .
90.6
78.9
Fahlls
Health
Service
Soolal Security Administration
Mmlnis-
20.0
21.3
25-3
31.5
31.5
33-3
32.1
31-9
38.8
271.5
320.3
356.5
1*15.2
1*69.6
1*91.1
1*88.0
1*51.?
1*98. I*
25-5
5-2
k^'.k
u
63.2
69.
67-3
57-0
52.8
59.3
113.4
9.8
12.2
2.3
Unemployment compensation
administration
7.1
(.0
8.5
10.3
10.0
10-3
14-9
Pahllc
health
work
a/
4i.9
58-9
58.3
63.0
70.3
8-9
8.0
9.4
10.8
11.4
10.7
10-9
10.7
55-1
36.3
34.2
55.6
59-8
1.5
1.5
.2
.5
5.5
9.0
3.8
Maternal
and child
health
serrlcaa
3-8
1:1
5-5
5.9
6.5
6.2
!•"
6.3
1/
2.7
3.0
1.4
1.5
1.5
Vo
.3
4-0
3.8
3.8
41.0 2/
1.8
2.6
3.5
2.8
4.2
V.
8.8
1.0
115.1
215-1
209-7
322.5
357.8
341.3
311-7
279-8
326 -1
557.3
52.2
-36.9
10.7
1.6
.5
.8
.6
10.8
142.6
:i
'•1.5
.6
87.6
68.4
-7
.5
2-5
1.6
87-5
76-7
59.1
53-6
16-7
1.7
1-5
9.6
6.0
1-5
Z/
2/
5/
XmplOTment
Serrlce
.7
.8
1.9
1-2
1.5
6/
eipendl-
torea
.6
--7
10.3
2/
U. S,
Zzoesa
of
.8
3-3
5/
Refunds
of
taxes
1.7
1.0
26.2
7-1
tion I).
Prior to January 1, 1940, figures represent amounts transferred to
the Old-Age Bsserre Account. From January 1 to July 1, 1940 "Transfers" were made to the Federal Old^Age and SurylTors Insurance Trust
Fond. Subae^ently receipts have been deposited In the Oeoeral Fund
of the Treasury and "appropriated" directly to the Federal Old-Age
and SurrlTOrs Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fond account
to cover administrative expenses, lAlch are shown as expenditures In
Section II, Table I.
Includes only expenditures from appropriations made specifically for
administrative expenses relating to the Social Security Act; namely,
Child
welfare
serrlce
1:1
7.5
111-6
30.9
Dally Treasury Statement.
Less than $50,000.
Formerly Title VIII of the Social Security Act.
Formerly Title II of the Social Security Act. Includes amounts e(iual
to appropriations to Ballroad Unemployment Insurance AdMnlstratlon
Fund eonlralent to amounts of taxes collected with respect to the
period from January 1936 to June 1939, Incluslre from employers Bubject to the Eallroad Unemployment Insurance Act (See Table 3 of Sec-
I«bor
10.7
12.8
153-3
41.3
12.fi
Serrlces
for
crippled
children
of
\:l
1-6
1.4
1.4
1.3
2.0
2.1
1.9
2.1
.1
DBpartment
Children's
^irean 6/
.8
.1
.7
.6
Social Security Administration. Department of Commerce, and IkpaPtment of Labor; and administrative expenses reimbursed to the Oeneral
^md of the Treasury under Section 201 (f) of the Social Security
Beginning July 1, 1940, Includes also administraAct, as mended.
tive expenses under the Wagner-Peyser Act. licludes admlnlatratlva
expenses payable from other appropriations, principally for the
following agencies! Borean of Internal Eeveone of the Treasury
Department, and Public Health Service and Office of Xdncatlon of
the Federal Security Agency.
Beginning July 1, 1945, payments previously made under the Social
Security Act were discontinued, and thereafter made under provisions
of the Public Health Service Act of 1944.
Includes expenditures under Social Security Act by the Ihpartment of
Labor through July 31, 19'*6.
Classified as "Biecutlve Office, Office for toergency Management,
War Manpower CoMslselon" through July 31, 191*6.
Covered by appropriations by Congress
Second Deficiency Appropriation Act, fiscal year 1938, appropriated
$4l million for refunding to certain States portions of Federal *iployers' tax for 1936 collected nndar the Social Security Act.
1
8
..
Treasury Bulletin
12
Social Security Program:
Section
I
-
Budget Receipts and Expenditures
Table 2.- Railroad Retirement Act
(la alUlont of dollan)
B«e«lptt
fliCAl 7«ax
or Boath
l^jendlturot
f«X«> OB
oarrlora
nd their
UalBlitratln
Total
•Bployoos^
i/
1U9.0
110.0
123.3
128.2
IU8.5
220.2
265.3
311.3
igiife
150.1
109.3
121.0
136.9
170.0
20S.8
267.1
285.0
282.6
295.11
u
19't7
380.
302.8
•.3
193*
1939
19MO
igiti
191*2
19V
191A
19U5
19U7-J»iiu»Ty.
Tobruaiy.
March
M»jr
Juno
^
taxsi
12U.it
1I10.9
2.3
-8.7
-21.6
5.1'
21U.8
262.7
308.8
291.9
298.5
-1.8
26.3
12.8
-77.3
-1.1
.7
ll.lt
lA.O
lt2.9
-U.8
-76.6
.'2
1.5.5
6.0
13.0
.3
•3
iacut...
tnroa
1U6.U
107.1
120.7
2.6
12.2
112.0
Julj
*
m
76.
iprll
Soorool
kk.k
't.9
•zpendU
Befundi
of
2.6
2.9
2.6
3.8
7.6
2.5
1.5
Bxcett of
Traasfari to
Railroad Retlroent Account
(trust account)
.2
3
.2
1.5
1.5
512.2
.6
IUI7 Ir*a«ui7
StatsBOnt.
!••• than $50,000.
LoTlad ludar tba fiallxoad Batlreoant fax lot ooBoaseiDC January
19ltT! prior ttaorato, nndar tho Oarrlori Iazla« let of 1937.
U5.2
•
S/
1,
^
lt2.9
-12.0
-110.5
511.6
;o6.2
-12.7
Xneludaa only axpendlturat from appropriation* aada paeifioally
for adBlBlatratlTe expenaaa relating to tho Ballroad Batlromont
Aat.
OoTored I7 apiroprlatloBa froa the OooerBl Kind of the Treaiury.
Table 3.- Railroad Unemployment Insurance Act 1/
(In BlllloBi of dollars)
I^endltures
Receipts
Htoal year
or Bonth
Railroad
unemploynen t
lasuraoce
contrlbutloae
Total
1938
1939
191*5
19116
t.9
6.8
8.5
10.3
12.1
13.2
12.9
19't7
lit.
igito
19112
191*3
igitit
1947 -January.
fehruary.
March
2
.5
.5
5.0
10.9
6.U
8.2
5.0
S."
2.5
2.2
3-2
3.7
llt.9
12.6
13.1
13-7
3.t
.2
.5
.8
.1
.5
• 5
.5
.5
JSI7
in«a>t .
Souroe:
r
*
^
g/
-5
3-2
Jxine
21
.2
.5
.8
.1
iprll....
HV
Transfers to
Ballroad
QnefflploTasnt In-
^
2/
igiti
AdmlnlttratlT* expeases (Railroad
TTneoploTBent
Insurance idmlnls.
tratlon Tund)
10.1
.
Sail/ Treaauzy Statement.
Rerlsed.
Less than $30,000.
Operated as Railroad UnemplOTnent Insurance Adnlnlstration fiind.
Represents 10^ of eontrltiations under the Railroad UnenplOTTDent
lasuranoe Act] the remaining 90^ 1* deposited in the Railroad Uneoploxment Insuranoe Aeoouni, thLempl^vent Trust Itind (See Section
It, Table 3)'xoludes anoants appropriated to Railroad Theaplojrment Insuranoe Adninlstratlon ^ind egnlTalent to amonnts of taxes
oolleoted for the period Jamuoy I930 throu^ June 1939 froa esployere subject to the Railroad UneaplOTnent Inauranoe Act. These
•5
surance Account,
TTnenpIoTvent
Trust Tund U/
.5
•5
tures
5/
.5
.1
7.5
!•'
6.0
11.7
8.9
9.6
9.2
U.l
-2.1
-2.1
2.7
-.6
.2
-5
.2
.It
-2.6
-5
:
Ixcese of
expendi-
-3.8
9.7 r
10.1
:
.3
aaounts acgresated $17-7 ailllon and were distributed b:^ oaX^ndar
years, as followe:
I936, $2-7 Ullont 1937, *5.3 lllloni 193S,
$6.S ndlllon; and for the first six months of the oalendar year
1939, (2.9 Billion. These amounts are included in Table X under
Tederal Thunployment Tax Act (unen^lOTment insuranoe).
Includes only expenditures from appropriations made speolflQally
for adfflinlatratlTe expenses relating to the Railroad IbeirplOTment
Insuranoe Aot.
Represents excess funds of the Railroad IhienploTinent Insuranoe AdDlnl»tratlon I\ind (under Aot of Oot. 10, 19^).
Oovered by appropriations by Oonsrass.
October 1947
13
Social Security ProKram:
Section
11
-
Statements of Trust Accounts
Table I.- Federal Old-Age and Survivors Insurance Trust Fund
^
(OuBulatlTt froB orgaoltatlon - Xb alllloiis of dellart)
Baoalpta
nd
of fltoal
7*ar or aonth
Total
raoolpta
^propriatloBi ly
19I1O.
19U1.
19l»2.
19UV
19W19U5-
igW.
19^7-
19U7-;wia...
10,558.8
10,631.2
10,961.2
'ttl7...
Ao^at.
Soureai
1/
2/
InTaetaanta
Cos^asB
782.7
1,199.6
1,792.1
2,536.2
3,502.8
*,720.7
6,llS.o
7,5^9-8
8,935.8
10,558.8
1938.
1939-
Izpaadltnrai
Intaroat
765.0
1,155.0
1,705.0
2,393-1
3,288.8
Total
axpanditoraa
Balaaoa
Salarlaa,
Aireaa of
01d>a^ and
SupTlTora
Ineuranoa
BalBbureamant
for admlolstr&tira
axpansaa 2/
Old-a«a
bane fit
paTnanta
thazpandad talaoea
Total
m
21"».l
138.6
275.6
301.5
U52.1*
5,711
7,021.3
8,259.5
9,719.0
ltoU.7
528.5
676.3
839.7
669.6
936.U
1,29U.U
1,760.7
1,529-6
9,719.0
839.7
839.1
839-8
1,760.7
1,803.9
1,8>K.J
1,529.6
1,568.9
1,608.1
206.0
207.0
208.0
9,791.'l
10,121.*
Kind
5''3.7
783.
l.ioft.o
Dall/ Traaaury Stataaaat.
Xncludaa traaaactiona affactad UBdar tha pradacatior Old-A^a Saaarra
Aecouat.
Undar (actios 201 (f) of tha Social Saeurltj Act Aaasdaaati of I939.
1,7*.
2,397.6
1,227.2
*, 268-3
8,798.0
25.2
28.0
8,798.0
8,827.5
30.
9,11*.
"t
1.9
.1
3.0
d
6.1
10.8
20.*
5-2
6,5*6.3
7,5*8-7
8,7*2.3
7.0
16.1
32.0
21.*
35.1
II
1*3.5
7.3
*9.2
*8.*
8,7*2.3
8,700.3
8,700.3
358.8
*8.*
5*.6
55.6
5,>A6.It
6,6l3.>i
7,61n.l»
25.2
In dlaboralnc
of fl ear'
aceoont
113.0
662.3
1,177.2
1,738.1
2,380.6
3,201.6
U, 236.8
1,180.3
12.3
39-1
65.9
93.5
126.0
152.9
190.4
206.0
i
•nta
777 2
19-3
35-1
99.5
209.8
359 1
In
Oanaral
y
5.'»
87.1
lUJ.l
IxiTaat-
5, '•OS.
2*.
Undor proTlaloBi of tha Labor-fadaral Saeurltj Act. 19*7. aalariaa for tha Boraaa of Old-A^ and SurrlTora Inaoraaca ara pa^abla diractl/ froa tha Tedaral Old-Aca and SuTTlTors Iniuranea
Iroat fund.
}/
Table 2.- Railroad Retirement Account
(Otmalatl-ra from orgaaiiatlon - In allllone of dollara)
Baoalpta
Ind of flaeal
7aar or month
I9«i0
ii*a
19**.'.'.'.!!!!
19*5
19*6
19*7
19*7-Jane
July.
A««uat,
Soureet
Balaaoa
Unexpended balance
Total
raoalpta
1938
1939
.
Ixpendltnrea
-
1*7.9
268.*
390.8
506.9
650.9
871.5
1,1**.
1,*68.1
1,780.1
2,102.6
2,102.6
2,787.7
2,787.7
Approprlatlona
h7 Oongrasa
Intarest on
InToatnanta
1.*
3.6
1*6.5
Bane fit
1,116.9
l,*25.7
1,717.8
2,016.1
1:1
11.6
17.3
27.2
*2.*
62-3
86.5
2,0lS.l
2,701.1
2,701.1
(6.5
86.5
86.6
1,277.7
l,29*-7
1,312.2
*98.S
63?.>t
85*. 2
In Oanaral
In dlaboreln^
officer' B account
^ud
79-8
185.6
298.7
*19.9
5*6.1
676.6
811.0
952.5
,10*.*
,277.7
26*.
38*. 9
Inraetmenta
Total
pajisanta
68.1
66.2
67.2
7?.*
7*.0
91.5
178.0
82.7
92.1
87-0
10*.
19*.9
333-0
515.6
675 -7
82*. 9
82*. 9
l,*93.o
l,*75.5
1.6
2.3
1.8
10.5
.2
13.2
10.8
1.6
*.l
1.1
U.7
318.
500.5
657.0
8O5.5
.5
.9
1.2
1*.7
17.8
18.2
805.5
1,300.0
1,283.0
1.2
175.2
173.6
18.2
17.8
18.9
12.8
Sail/ Traaauxy Stataaant.
Table 3.- Unemployment Trust Fund
(OnmalatlTO froa organization - In Billions of dollars)
Baeelpta
fed of f local
year or month
Total
raeelpte
State
unemployment Insurance
actlTltlea
Ikpoalte
States
1938
1939
19*0
19*1.
19*2
19*3
19**
illi!!!!!!!!!
19*7
l9*7-'ni*....
Jaly....
An^st
Source;
y
1/
.
-
Izpandlturei
State nnampl oTment Insurance
actlTltiee
fiallroad UnemplOTsent
Xnsuranoa Account 1/
Ballroad
Tranaunemployfera
ment
from
Insurance
States
contrlbu-
tions 2/
V
Tranofert
from Ballroad UneiB'
plojinent
Insurance
Admlolitratlon >bnd
7, 28*.
181.
27*.
383-7
8,5*0.3
9,550-3
10,555-5
12.257.8
12,306.7
12,551.*
10,555.5
10,59*.*
10,837.7
.621.!
'*;7l7-3
5,935-0
**.2
105.6
Total
Wlth•xpend- dratrale
Itnrea
States
to fiall-
road thienplojneni
Ineuranoe
Account if
y
il!2
17.*
29-1
38.0
47-6
56.9
18.0
**.8
82.6
131-5
198.9
281.*
377-9
501.5
6*5.1
792.0
192.0
633-8
1,133.1
1,688.2
2,065.*
2,2*1-5
2,302.1
2,373.*
3,519.3
*,388.8
il!?
66.5
792.0
792.0
792.0
1,058.2
1,869.5
1,076.2
1,91*.3
2,857.9
3,971.9
5,215.5
6,6l*.o
8,180.9
9,688.6
10,968-*
12,257.8
Interest
Inreetmenta
Transfere
502.5
618.7
7*6.3
1.8
105.9
10§.9
105.9
105-9
106.3
106.7
107.2
7*6.3
7*6.*
7*8.0
107.2
107.2
107.2
Daily Treasury Stataaeat.
Bzeludat adTucs of $13 alllloa f^oa the Treasury and sutosequeDt
repajraeat. both tekiD« place In the fiscal year I9U0.
Represeots 90^ of contributions under the Railroad Uneq)loynent Insurance Act; tha reaalolaf 10$ li used for adnlalitratlTe axpeDses.
(Sea Section 1. Table 3.)
Represents saounts transferred froa St&tat to Railroad TTneaployasnt
192.0
633.8
1,116.7
1,550.0
1,918-0
2,092.*
2,152.*
2,222.5
3,350.8
*, 168.1
*,W.f
*,l68.1
*,*«3.2
*, 260.0
*, 558.0
*,33i.2
Balance
Ballroad
Ihieiqwndad
Uneaplojment Insurance
Aocount
balance
Total
Inrest-
onts
Benefit
paTnente
l*.6
1.8
105.9
105.9
105.9
105.9
106.3
106.7
107.2
**!6
61.8
113.5
107.2
107.2
107.2
116.0
119.6
III
*3.2
U3.J
88*.
1,280.5
1,72*.9
2,283-7
3,150.1
",372.5
5,878.8
7,315.3
7,**9.1
7,869.0
872.0
1,267.0
1,710.0
2,273.0
3,139.0
*, 367-0
5,870.0
7,307.2
7,*09.0
7,852.0
7,869.0
7,823.5
7,993.*
7,«52.0
7,797.0
7,96*.0
In
In dlsGeneral borsln^
offi( Special cer's
Dipoeit account
Ac count) 5/
12.2
13.5
13.*
8.0
*.0
8.5
7.8
31.7
1.*
2.7
3.3
1.5
.3
si
11.8
5.3
11.8
18.7
23.8
5.3
7.;
5.6
Insurance Account equlraleot to aaounts of taxes collected, with
respect to period froa January 193^ ^0 June 1939> IncIuslTe, froa
eaployees and eaployars who coae within tha purriew of the Railroad Uneaployvent Insurance Act.
Represents excess funds of the R&llroad UneaployBent Iaeui«noe AdBlnlBtratlon Fund (undar Act of Oct. 10, I9U0).
For railroad uneaployasnt beneflte and refunds.
.
Treasury Bulletin
ih
TREASURY
vhloh
tables
The
figures
Treasury
on
follow
cash
CASH
present
revised
operating Inoome and
outgo for reoent years and months.
are
oash operating Inoome or outgo,
net
where revisions
about
oome
In
In
the
annual
figures average
Both the oash operating Int60 million.
and oash operating outgo totals are lower
new
the
deductions
tirement
series,
for
are
principally beoause payroll
federal (Jovernment employees' re-
now considered
as
noncash transac-
tions whereas In the old series they were treated
as
oash budget expenditures
and cash trust fund
receipts.
tables has been designed
rather detailed einalysls
of the adjustments needed to translate budget and
trust fund transactions In the Dally Treasury
Statement to a cash operating basis. Another
feature of the revised tables Is to extend the
The
to
new
provide
analysis
series
currently
of
a
operating Inoome and outgo to
statement on cash borrowing and repay-
of
cash
Include
a
ment
borrowing, thus permitting a reconcilia-
of
operating Inoome and outgo
figures with changes In the Treasury Oeneral Fund
tion
of
the
State
Institutions,
financial
governments,
and looal
etc.
As a general principle It may be stated that
minor, particularly In the
In the old series
the
other
OUTGO
AND
The revisions
oase
of
INCOME
cash
funds coming
In
public
from the
are
treated as
the oash operating Income series If they
part^ of
are taxes,
retirement and pension
and other receipts from the
duties,
fees,
payroll deductions,
less involuntary nature
minor exceptions). Borrowing, of course, falls outside of this definition
exeept In such special cases as irtien publlo debt
obligations are Issued as part of budget expenditures.
Armed forces leave bonds provide an exsuch bonds are treated as a nonample of this:
cash expenditure at the time of issuance and as a
cash expenditure at the time of redemption (ex-
public
of
a
or
more
(although there
are
turned
cept where
premiums )
veterans' Insurance
for
In
It should be noted that a -given net cash
operating Income does not meem that the Treasury
can reduce the public debt by the same amount.
Some
part
of
the
net
cash operating Income may
itself Involve Increases
funds but not
by
debt held by
In
the publlo.
trust
Thus, net receipts
The purpose of developing Treasury oash
operating Income and outgo figures Is to bring
together an analysis of the flow of funds to and
the soelal security investment funds are Included as part of the net cash operating Income
even though they Increase the debt to the extent
that public debt obligations are Issued by the
Treasury to the funds. A corresponding amount of
Figures relating to
debt held by the public could, of course, be paid
of
balance.
from the Federal Oovernment.
flow of funds of necessity must eliminate
In this way It
Intra-governmental tremsaotlons.
Is possible to derive a single figure for the net
such a
operating Inoome or outgo of the Federal
Oovernment and Its combined transactions with the
public. The public, of course, Includes Individuals, corporations, banks. Insurance companies.
cash
off.
Hence,
available
public
to
only
increase
the
the
(rather
operating Income Is
the hands of the
the total debt) or to
cash
net
reduce
debt
than
In
General Fund balance.
Similarly,
would require increases
in the volume of debt held by the public (unless
a decrease occurred in the Qeneral Fund balance).
net cash operating outgo
October 1947
15
Treasury Cash Income and Outgo
Table I.- Sumary of Cash Transactions
(In mllllonB of dollara)
lat oaah
Oaah op«ratlooi oth«r than borrovlii<
Ttacal y*ar
or sontb
Oaah operating Inooa*
I9U1
19^2
7,287
12,776
22,235
2,083
2,515
3,010
3,903
12,850
33,520
78,699
93,971
1,210
1,065
i»,69l>
96,767
61,376
36,2Wt
36,225
-781
1^;::::::::;::
l»2,gg5
i»,909
••0,952
3,697
3,731
1947-JuBiai7
IW^roaxy..
?,7U5
llA
Hank
April
2,5^»5
"V
Am*
2,861
5,335
J«lT
Ao^ost
2,350
2,516
i|5i::::::::::::
19^7
;
19Ug (•tlaatsl)
Oaah troat Ixohaa^
aooount
StaMlla^Mndtatlon
Ituras
^nd 1/
Oaah trust
aoooont
rooelpts
bad^t
Total
•zpand-
Itum
ltU,6g3
"».373
3,889
5,127
l:^
5,701
5,9W
3,222
2,819
3,316
5,295
3,619
3,112
2.565
3,193
2,955
2,753
27t
215
677
ii»,o6o
68?
+5, '•32
+7112
6,515
-116,095
19,652
60,250
56,757
95,986
65,692
39,985
39,226
-lA,9l*5
)49,ik7li
»',529
-17,899
7,>i39
-19,388
-10,1*60
6,658
5, '•57
-6,20l»
-7'»7
56
-102
-39
2,783
3,667
3,322
1,106
loli
-838
-2,848
1,210
2,IW2
-67
-37
-3
3, 651*
33
25
3,351
5,193
192
-1,761
-209
-859
-2,598
-2U5
-758
30
ii^6
3,392
3,152
587
291
-239
*!
1,026
198
337
139
-555
968
102
2l»3
257
261
205
:
(-)
Oanaral
Ihnd
balance
-19,29*
-53,735
"»,3l6
3,270
3,001
outgo (-)
laoraaaa (+) or
daoreaaa (-) In
Treaaury eaah
585
78,979
94,079
108
l>,9lU
Total
3"*,
a
AetuAl figure! are baeed on the tbllj Treasoiy Statement estlnatei
for the fiscal year 194g are from the Berlev of the 19U8 Kid^et re-
Souroe:
Claarlnc
aooount for
out standing
aheaka.ata.
or
Hot oaah
operating
Incoma (+)
Gash oparatlnc aateo
Cash
Cash
>ad«6t
rooalpt*
borrovlnx
(+) or
rapoTDaat
of
borrovlnx
173
t
1/
r
-Ik,
l.Wo
2,62lt
-835
-35
Izohan^
Stabilisation
Rind 1/
358
+10,662
0,930
-1,800
-22l»
332
leaeal Aogaet 20, 19>17. Tor detalla lee tahlea vfaloh folia*.
See footnote 2 to Tabla 5 under "Treaauiy Caah Income and Oatgo*.
BeTlaed.
Table 2.- Comparison of Total Budget Receipts with Cash Btidget Receipts
(Ib
BlUloiu of doUare)
Laeal
Tleeal /ear
or aontk
Total
budget
reoelpts
l»4,l49
68
5'*
5
13
13
46,457
43,058
43,259
41,667
109
153
313
715
83
90
91
95
26
27
13
29
3,820
4,378
5,701
75
30
5
5
1945
1946
April
.
U
2,556
2,865
tva»
5, '•73
138
July
2,397
2,536
"•7
Souroal
11
3
4
136
"•3
21
Actual figures arb baaed on the Bally Treasury Statement; estloatea
for the fiscal year 194« are from the BerlOK of the 1948 Budget
released iagust 20, 1947
Leas than t500,000.
.
•
136
258
17
72
221
•
1*»7
Angaat
18
Tranafer
from
increment
on gold
Kqualsl
Caah
budget
raoalpta
7,287
12,776
22,235
44,081
319
18
10
1
2lt
194S
1947-Januai7
Tebruax7 .
Maroh
lamlngs
'»7
7.607
12,799
22,282
19Ug (latlmated)
B.r.C.
320
23
ig"*?
19'»7
Capital atook
and paid-in
anrplua
Xntereot
Istal
(nat)
igui
1942
loaoaah budget raoelpte
Paymente to Treaauiy by Ooreranent corporatloni
46,348
42,885
42,946
40,952
3,745
4,373
5,701
2,5'45
2,861
5,335
2,350
2,516
..
'
Treasury Bulletin
16
Treasury Cash Income and Out^o
Table 3.- Comparison of Total Budget Expenditures with Cash Budget Expenditures
(In mlllioaB of dollars)
Honcaah budget expeadltures
Less:
Interest pa^mentt
Total
budget
•xpendIturaa
riacal year
or month
Total
To OoTOn
eroment
tarings
corporabonds
tlona
and
Preasuiy (partially
owned)
Mils
13,766
19112
3'*,
19^3
19UU
79,702
95,572
19^5
100,397
63,71"
19I16
289
1*2,505
iS^l
19U8 (Estimated} 37,000
igUy-Jaauaiiy
.
.
February
March
3.113
3.91't
.
3,598
iprll
Ktf...
June
U,002
July
Au^st ....
Sourcei
•
^
^
Treasury
Payroll
deduction
for
Transfers to
Ooremtrust
To trust accounts ment eaployaoa'
accounts
retlreoent
y
So tea
Iraed
forces
leaTe
bonds
AdJusted
service
bonds
25"
325
381
"35
556
56
88
227
269
-20
-12
-7
-5
"29
567
6"6
731
i,6"6
1,918
1,355
1,1"0
290
281
259
207
1,8"«
1.309
-108
-86
-8
71
16
22
21
21
278
269
303
IS
2"
20
23
267
91
35
5"S
273
16
20
167
207
917
769
1,203
1,601
58
81
130
213
3,631
2,338
6,261
775
31»2
58U
1,450
376
"*2
98
32
36
ll
2
3
U
22
"35
"67
500
331
1
"6
"32
31
3,851
383
759
32
5.5W
626
59
3,669
3,060
71'! r
66
307
U6
10
"97
1
Actual figures are based on the Dally Treasury Statement; estimates
for the fiscal year 19Ug are from the Review of the l^US Budget roleaaed Au^at ?0, I9U7.
Less than $500,000.
Accrued discount on saTlngs bonds and bills leas interest paid on
saTlnga bonds and bills redeemed.
Interest payments to wholly owned Oovemaiettt oorpor.itlons are not
deducted because they are treated as nag&tlTe expenditures whan
OoTemaent corporation
payments to Treasury
Budget expenditures InTOlvln^
iBsuance of U. S. securities U/
s/
i/
ig""!
^
V
k/
5/
r
-5
-1
-1
-1
Excess
profit!
to
InterIntertax
est
natl onal refund
Bank and bonds
Fund 5/
Issued
1
6
37
67
13"
1,366
-916
1,109
159
-150
Earnings
89"
-970
-39
-12
-3
-2
-2
He payInTeetment of
meate
capital
In
stoolc
D. S.
and
secupaid-in
rities
surplus
12,850
319
18
10
108
118
17
12"
72
221
"5
30
Equals;
Cash
budget
expenditures
5»
115
39
25
18
31
18
136
38
32
33,
78, "99
93,971
96.767
61,376
36,2""
36,225
2
5
',56"
3.222
-1
-1
-1
11
3,619
3,112
",91"
3
136
-1
2,955r
-2
5.753
received by corporationa; hence payment and receipt offset each
other in the expenditure aariaa.
For detail, see Table 5 under "Bud^t Hecelpts and Ixpendlturas".
Budget eipendlturea involving the Issuance of U. S. securities
are treated as noncash at the time of original payment and as
caah expenditures at the time of redemption. The figures shown
are net iSBuaneas, or net redemptions (-).
See footnote 2 to Table 5 tinder "Treasury Cash Income and Outgo".
Bevised.
Table 4.- Comparison of Total Trust Account Transactions with Cash Trust Account Transactions
(In Binions of dollars)
Trust account expenditures
Trust account receipts
Less:
Tiacal year
or month
Total
receipts
Total
noncash
receipts
Interest
on
Investments
in U. S.
securities
25"
325
88
167
-852
1,808
692
2,872
1,210
1,065
"80
108
"29
567
6"6
731
l,6"6
1,91s
1.355
l.lUo
290
281
259
207
",69"
",909
3,697
3.731
6,267
8,198
7,331
6,137
7,0"8
3,882
",060
3,136
5,200
3,668
3,362
3,0"8
299
1"1
1"7
-120
1,5"9
73
552
208
-7S1
".316
3,270
3,001
71
22
7
21
21
10
ID"
75"
"10
16
88
127
218
75
113
2"5
213
251
225
"9
10
9
587
362
198
j37
139
2"
20
23
9
27"
151
7
'^
855
1,360
37
615
781
5
9
7
"9
612
1,103
-7
20
It
16
5
20
2
768
59"
507
388
"43
"31
52
-"5
3"2
801
290
198
"7
91
"5
1:
April
Kay
June
35"
917
722
80
"62
763
July
785
973
570
295
....
Cash
expenditures
partially
By trust owned
accounts GovemTient corporations^
1,33s
1,925
3,00"
",128
2,365
2,766
2,532
2,07«
Au^Bt
Ecjaals:
Other
520
3,73?
3,78"
7,167
7,059
7,675
6,228
5,809
.
prcunlums
By
1,730
U.80"
" 2b"
7,275
19"5
19"6
19"7
19"8 (Istlmated)
.
Total
noncash
expenditures
2,083
2,515
3,010
3,903
55"
676
916
1,150
.
Equals:
Caah
receipts
Noncash expenditures
Investments in
U. S. seaurltlee
56
88
227
269
2,638
3,191
3,926
5,053
February
March
Armed
Payroll
Transfert
forces
deductions
leave bonds
shown as
for
Other
budget
redeemed
Government
expendfor
employees
insurance
itures
retirement
Total
axpendlItures
331
381
"35
556
19"1
19"2
19"3
19""
I9U7 -January
Less:
Honcaah receipts
167
207
1
"£
"32
"9
18
5"8
273
53
Actual figures are baaed on the Bally Treasury Statement; estimates
for the fiscal year 19"8 are from the Review of the 19"5 Budget reionsed August 20, 191*7.
Less than $500,000.
1/
2/
3"
5
5
302
12
2
102
2"3
257
261
205
Excludes clearing account for outstanding checks and telegraphic
reports fron Federal Heserre Banks.
Principally net redemption or ISBnance (-) of obligations of
GoTernnient corporations in the sarket.
October 1947
17
Treasury Cash Income and Outgo
Table 5.- Comparison of Change In U. S. Securities Outstanding
with Cash Borrowing or Repayment of Borrowing
(Inallllont of dollart)
Chan^ In
teeurltiei outetandlD^
U.
S.
Lessi
Net InTestmentB Id
U.
flioal year
or DO nth
Publlo
debt
OtiATan-
Total
tead
obllfatloa*
U.
S.
Total
gUl
6,835
21,659
+W,27H
**,307
-Hfig
-2,l»77
+63,806
+61,830
19^
19W
57,679
nojito
-1,190
-11,136
-5,086
-3«7
+56,U89
+10,783
-11,522
-5,058
6,73«
191*7
+627
+1,9*2
-69
+559
+1,560
-2,300
V*8
19U7-J<um«r7
N^maiy
.
.
March
-2,
April
H»y
Juna
-l,'t23
July
1,161
Au^st
29'*
+6U2
-57
+6U9
-82
-5
-U
-1
-88
-1,U26
+6U1
-10
-1
1,152
emment
aecurltles resulting froB bud^t expendltoree l/ Interest
on
Hotes for Bxceea
Irmed
BaTlni;e
profits bonds and
forcoi Adjusted Interserrloe
national
tax
traasnry
leave
Bank and
bonds
refund
bills
bonds
bonis
>und 2/
1,1*22
2, 006
3,"*6l
U,883
3,><09
7,892
1,218
1,338
1,925
39
5
-20
-12
3,001*
'*,128
203
206
-5
5,200
3,668
3,362
321*
3,01*8
88
127
218
^37
•
^
2/
58
81
130
213
894
-970
-39
-12
342
435
-7
I3U
-108
-86
159
178
-88
1,793
-1,309
-8
-5
51
271
-1
-1
-1
11
1
2,llK)
-916
1,941
19
5, ''32
•
+19,652
131
207
-95
-190
60,250
56,757
86
203
8
7
49,474
-3
42
'f
36
-7
-31
+104
-2
-2
-2
-2,848
-3
-2
-5
-1,761
-209
-859
66
-2
-2
587
-1
-1
II
-30
-121
-1
-2
U6
53
(-)
'
+7,1*39
17
-39
of
borrowing
-19,388
-6,204
-1
>*31
() or
repaonnent
72
125
-175
IA3
borrowing
500
28
562
356
Caah
Issuance
goaranteed
of nonobligations
guaranteed
not reobligations
fleeted In
of federal
Treasurer
agencies
accounts
28
J
615
781
Equals:
Caah
Plus:
-"U
31
32
59
848
709
Bet transactions In
1*67
256
83
Actual figures are baeed on the I!Ul7 Treamur Statement; eBtimatei
for the fiscal year 1948 are from the BaTle« of the 194s Budget released August 20, 1947.
Less than $500,000.
Issuances of U. 8. aeeurltles resulting from'hudget expenditures
are treated as noncaab at the time of iBsuance and as cash budget
expenditures at the time of redemption. The figures shown are net
Issuances, or net redeaptlone (-}.
Expenditures for U. 8. suhserlptlons to the capital of the International Monetary Aind and the International Bank for Reconstruction and Berelopment require special explanation. United States
payments to the ^ind in fiscal 19^*7 for axanple eonelsted of $1,800
Billion paid from the Xxchange Stablllxatloa ^ind (Table l) and
$950 million paid aa budget expenditures (Table 3). Of this total,
$1,724 million (net) vaa Inrested In nonlnterest-bearlng V. S.
notes thereby making thla anount nonoaeh expenditures during the
fiscal year. Of the $1,026 million cash portion of the ezpendltores, $968 million came from the Initial Xxchange Stabilization
Source:
S.
y
-1,802
191^ (dtliatad)
By trust
aooouata Qorporatlons
aeourltloi
+5,99't
Uj
eeetirltla*
By OoT-
+21,U6l
19U1
I9i«
19^3
19U4
I.
Honcaah debt traneaetlon*
XesTiAnce of U.
+291
the retoalnlng $38 allllon represented redemption
later in the fiscal year of notes aasuned to haTe been aeciulred
throu^ the Stabilization Find payment. Iccordlngly, the noncash
payments to the Pund are nade up of $77^ million from the Sxch&nge
Stabilisation Find payment and 993^ million from the budget payent. In the oase of the International Bank, a total of %hjS million was paid during fiscal 19^7 - all in the form of budget ezpendltures. On net balance, 9U16 allllon occurred as a noncash
expenditure becanse of the issuance of nonlnterest-bearlng tJ. S.
Table 5 thus shove a total of $2,ll*0 million (net) of such
notes.
notes Issued to the two Institutions in the fiscal year 19^7Budget estimates show that $9l6 Billion of these notes will be redeemed in the fiscal year 19^, thereby increasing cash expendiTtisd payment and
tures.
y
Accrued discount on sarlngs bonds and bills less Interest paid on
sarln^ bonds and bills redeemed.
Includes borrowing through Postal Ssrings SyBtem.
Table 6«- Cash Operating Income and Outgo by Months
1/
(In BillionB of dollars)
Annual total
Calendar year
Jan.
hb.
Apr.
May
July
*>«•
Sept.
Oct.
»0T.
Calendar
year
Caah operating Income
1941
1942
191*3
19411
19'»5-.--
19lt6
3,889
191*7
5,127
5,9W
2,819
3,31<
5,295
2,698
2,565
2,997
3,193
4.682
2,79"*
2,869
4.207
Caah operating outgo
1941
1942
riscal
year
^
9,371
15,2?1
25,245
47,984
51,04l
47,793
46,643
14, 060
191*3
3H,585
78.979
1944
911,079
19'*5
3,U1
19U6
8.783
19'»7
3,667
3,3S2
3,65'.
3,351
5,193
3,392
2.95*
3,152
3,041
2.955
2,325
3,629
let caah operating Ineoaa
(+) or outgo (-)
I9U1
1942
-4,689
-19,291*
191*3
1944
19'*5
19U6
19^7
}/
£/
95,986
65,692
39,985
-^•13
+1,106
+1,460
+2,6*
-835
Sata not filled In are In process of preparation.
'I seal year ending June 30 of year Indicated.
-35
-827
43
41
+1.641
-161
544
578
-53,735
-46,095
.44.945
-17,899
6,658
18
GENERAL FUND POSITION
AND DEBT OUTSTANDING
Treasury Bulletin
October 1947
19
General Fund of the Treasury
(Id nillloat of dollars)
Ind of flKal
7««r or Bonth
.
.,
Treasury Bulletin
20
Means of Financing Cash Requirements
(In
Amomt required
fiscal 7ear
or aontk
•
1938
1939
Total
laonnt
required
to be
financed
i,in
19110
3,910
6,900
23,*6l
19U1
19U2
19^3
igUU
19W
6U,307
58,U70
21,800
ig"*?
11,6(1»
at
Bod^et
daflelt
1/
let
decrease
In public
debt
1,177
3,862
3,910
6,158
742
35«
53,941
20,676
11,136
1,445
987
67
l.Uoi
855
1,272
Sonreei
1/
2/
total
aaonnt
financed
Bndcet
surplus
^
Increase in
public debt
1,1T7
4,484
3,910
6,900
23,461
74o
3,275
2,528
5,994
23,461
64,274
64,307
58,470
21,200
11,684
ft, 274
75*
33
1,33»
2,422
2,327
2,102
9k
«3i
2,867
9«7
758
1,401
855
1,161
649
1,613
338
2,222
548
i,ae
2,867
987
758
.
6,515
10.662
4,529
51,42l»
April...,
July
Ingast .
•zpandltures
In tniBt
accounts,
622
21,1191
1,33'»
May
Jan*
Sat iaereaae
In Qeneral
fond balance
let dacreaaa
In General
hmA balance
etc. 2/
19U7-Janaar7.
Dsbruary.
Nareh. .
,
Means of flnsBcln^
to be financed
64,271*
i9'»5
allUaBG of dollsTs)
125
2,422
2,422
2,327
2,294
5*
1,423
57
129
332
Hollj fteexuxj Statement.
Xxclndee aaotiitti for puMlc debt retirement i^ileh are chargeable to
the sinking fond, etc., under special prorlelona of lav, and Includes
GoTemment corporations (irtiolly owned), etc., (net).
OoBprlsea traet accounts, sales aad redenptlens of obllgatieae «f
ft,307
57,679
10,740
706
464
338
lev
receipts
In trust
accounts
etc. S/
98
1,210
947
5^
791
10,460
10,930
6S8
1,642
317
224
2,598
S*5
758
265
99
239
ao6
Oorerninent oorporatlons, etc., In the aartoet, Inoreaeat on c*ld,
selgnlora^ on sllTer Bleaellaneous funds and acoounts, and beginning with July I9U0, a clearing account for outstanding oheclct.
Increment on gold excludes expenditures for national bank note
retlreoient.
October 1947
21
Statutory Limitation on the Public Debt and Guaranteed Obligations
Beotlon 21 of the Seoond Liberty Bond Act, as
amended, provides that the face amount of obligations
Issued under authority of that Act, and the faoe amount
of obligations guaranteed as to principal and Interest
by the
held by
ceed
aggregate 1275 billion outstanding at any
Obligations Issued on a discount basis, and
subject to redemption prior to maturity at the option
of the owner,
are Included In the statutory debt limitation at current redemption values.
in
the
one time.
United States (exoept guaranteed obligations
the Seoretary of the Treasury)
shall not ex,
Table 1.- Status Under Limitation, August 31, 1047
(In mllllona of dollara)
Maxlmuni amount of securities which may be outstanding at any one time, under llmltatlone Imposed by Section 31
of the Second Liberty Bond Act, as amended
273,000
^
Amount of securities outstanding eubject to such statutory debt limitation:
U, S.
Oovernment securities issued under the Second Idberty Bond Act
,
as amended
239,322
^.
Guaranteed securities 1/
79_
Total aaount of securities outstanding eubject to stAtutory debt limitation
259 301
15.o99
Balance Issuable under such authority
Pablio Oebt Serrlea*
Ixeludea (uu-aateed •eourltlee held ty the Tremeury.
Beurcei
^
Table 2.- Application of Statutory Debt Limitation to Public Debt and Guaranteed
Obligations Outstanding, August 31, 1047
(In millions of dollars)
Public debt and guaranteed obligations outstanding
Subject to
statutory debt
limitation
Public debt aild guaranteed obligations outstanding:
Public debt:
Interest-bearing securities:
Marketable Issues:
Treasury bills
Certificates of Indebtedness
Treasury notes
Treasury bonds - bank restrl cted ^.
Treasury bonds - bank eligible
Postal savings and other bonds
15,735
85,0»5
8,ll»2
«,1'12
69,686
165
H9,636
69,686
165
165
168,390
l6«.2g6
Non-marketable issues:
n. S. savings bonds (current redemption value).
Treasury savings notes
Depositary bonds
Armed forces leave bonds
Total
limitation
15,735
25,025
Total marketable issues
Toital
Sot covered by
statutory debt
51,661i
51,661*
5,6i«2
3,6U2
328
1.86t
non-marketable issues
59.'^
59.'»99
Special issues to Qovemment agencies and tru^t funds.
Total interest-bearln" securities
29.220
29.220
«6.9't6
257.110
206
Matured securities on which interest has ceased
Obligations bearing no Interest:
1%ilted States savings stamps
Xxoess profits tax refund bonds
Special notes of the United States:
International Monetary Find Series
International Bank for Beconstructlon and Development serlea
Ihited States notes (less gold reserve)
Deposits for retireaient of national bank and Tederal Baserve Beak notes.
Other obllgatl one bearing no interest
6
66
iC
66
16
1,673
1,673
316
316
2.071
Total obligations bearing no interest.
191
191
^1
_J1
705
2.776
260.097
259.222
Total public debt.
Ouaranteed securities ^:
Interest-bearing sec-oritles.
Matured debt
.
-
Soureel
1/
259,301
hblio Debt Service.
Issues which comerclal banks may not acquire prior
date (with miner eiceptions).
79
79_
Total guaranteed securities
Total public debt and guaranteed securities outstanding.
to a specified
See footnotes to tables on "Public Debt
2/
875
260,176
and Ouaranteed Obligations of the Halted States Oovernment
Outetandln«. '
kolndea gueiranteed securities held by the Treasury.
22
Treasury Bulletin
Public Debt and Guaranteed Obligations of the United States Govemnent Outstanding
Table 1.- SuHiary
October 1947
23
Public Debt and Guaranteed Obligations of the United States Government Outstanding
Table 3.- Interest-Bearing Guaranteed Obligations (All Public Issues)^
(In Billions of dollara)
Boaaarketabla
Ind of fiscal
yo&r or aonth
Total
Coaaodl t7
Crolit
Corporation
Foloral
Tara
Mert(a<a
Corporation
6,360
6,360
206
206
U07
696
'»,5't9
I»,5it9
701
l.UlO
1,379
1,269
1,269
930
>t,092
3,908
1,190
"»12
930
1938
1939
19M0
191H
\gkz
>t,853
ig"*?
5,1(98
19>A
I'i^
PsUla
Telaral
Housing
AdalnlBtratlon
BonslBc
IdBlBll.
tratlsB 2/
Eoaa
Ownori'
Loan
Corporation
UU
1,563
299
820
1,096
1,7*1
1,219
llU
1,533
896
2,937
2,928
2,603
1
3
8
llU
226
17
21
U12
2,li09
li
Commodity
Cradlt
Corporation 6/
Rooonatnu:tlon
finance
Corporation
183
326
755
Raconitractlon Tlnaaco
Corporation
68
150
y
115
176
III
19W
19'»7
83
38
38
>t5
217
135
130
217
135
130
126
125
126
262
U6
li6
Tabniaxy.
March
181
175
)i6
U6
*prll
171
171
83
U6
k6
38
7U
73
3t
3'*
3H
3H
19U7-Jaaoar3r.
May
Jana
July
August.
k6
125
38
ItO
39
39
Sourca:
Dally Traatwr Statanaat.
footnotes qppaar at tha and of Tabla U.
Table 4.- Special Issues to United States Government Agencies and Trust Funds
(la alllloos of dollar*)
Sad of fiscal
year or Bonth
Total
2,676
3,770
1938
1939
19»0
l»,775
6,120
7,885
191*1
19112
10,871
I9iw
111,287
I9'i7
18,812
22,332
27,366
19117-January.
2li,T77
19't5
19116
yodaral
Dapotlt
Inauranca
Corporation
101
56
90
95
103
98
97
120
I1O8
Tadaral
01d-i«a
aad
Sarla^
and Loan
laauraaea
Inaoranoa CorporaTruat Tand tion
SuTTl Tor •
662
1,177
1,738
2,381
3,133
U.OMll
11,766
106
27
538
502
1,076
1,1169
352
1,213
3,187
199
268
5,2ll0
782
1,628
lt6ii
1,2511
2,ll60
6,li7'i
1,236
1,236
1,236
2.375
2,376
2,369
5.725
5,765
5,7»9
59
1,236
1,231
1,25*
2,377
5,813
6,278
1,066
2,l»60
6,li7>t
1,628
l,25l»
2,>l60
2,706
6,520
6,560
2,226
1,251*
«08
7,10li
60
62
28,516
29,220
5lll
7,062
7,062
64
6U
^
56
62
6,680
2/
39
57
58
59
6,680
6,680
1/
3
15
128
97
88
7,10l»
277
•
559
656
796
Poatal
Sarla^a
Syataa
8/
6,l>ll0
25,280
26,186
27:366
Source:
National
Serrlca
Life
Insuranoa
fund
V4
1,868
2,177
5,308
5,910
April
lUy
Juno
602
Llfa amployaed
Inauraaoa ratlranaut
fund
fonda
5
5
Kareh
.
ant
531
537
2I18
August.
ant
52I1
sis
July
Ooram-
523
537
2U,938
25,183
Tabmary.
Ooram-
ladaral
6,>illO
Bally Treasury Statement.
Less than $500,000.
Excludes guaranteed securities held by the Treasury and securltlas
guaranteed as t-i Interest only.
Includes United States sarlngs stamps, excess profits tax refund
'or current-month details, see Table 2
bonds and currency Items,
under' "Statutory Limitation on the Public Debt".
Bank restricted isauoe are those which oommarolal banks (banks acceptlng denand deposits) are not permitted to acquire prior to a
(l) concurrently with the
specified date with three exoeptlona:
Uth, 5th, and 6th Var Loans and the Tlctory Loan, commercial banks
were permitted to subscrlba for limited investment of their saTlngs
deposits; (2) commercial banks may temporarily acquire such Issues
2/
5/
S/
j/
8/
990
l.OlH
i.oito
1,2911
2.1106
Ball road
Batlra-
Uneaploy-
ant
Truat
fund
Acoovnt
66
67
II
92
ant
872
1,267
1,710
2,273
3,1111
Adjostad
Serrice
Certificate
Pond
Mutual
Nortga«a
Inauranca
and Var
Houalng
laauranca
Tunds
26
20
U
19
18
178
319
501
657
806
l»,257
7,1112
14
12
12
815
C02
787
6,869
6,r'6,96?
e,9iM
6,'
12
12
18
18
18
817
toi
806
6,91?
12
12
12
22
22
18
1,300
1,283
7,087
12
6
If
22
5,610
6,7>17
6,699
7,0?li
7,1'12
7,25'»
18
17
12
through forfeiture of collateral; (3) commercial banks may hold
(S«e
a limited amount of such Issues for trading purposes.
"Treasury Bulletin" July 19U6, A-9, A-IO.)
and
bonds.
bonds
depositary
Consists of adjusted serrice
Name changed from federal Public Housing Authority (originally
D. S. Housing Authority) pursuant to Beorganl nation Plan Ho. 3
of 191*7.
Consists of demand obligations stated as of the close of the
preTiouB month, in accordance with the Sally Treasury Statement.
Coneiets of Reconstruction Finance Corporation notes, Series X-A,
X-B, and Z-C, which were held by United States OoTernment corporations and credit agencies.
Includes Canal Zone Postal Savings System.
,.
Treasury Bulletin
&k.
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed
Obligations of the United States Govemaent
Pabllo dabt and goMranttad obllgatlsna
kd
of fiscal
year or moath
Ooaputad
Intoraat-baarlng
daM
ontfltaadlag
Interaat
oharge
(In allUona of dollars)
1938
1939
igUo
l9Ul
1942
Ul.Kag
19'»3
139,'*72
19UU
19U5
19U6
19'>7
201,059
256,766
26«,578
255,197
ISky-JumBTf.,
25«,61lO
February.
^11....
•hue
Jul7
iugast
Source:
1/
.
.
Intarest
eharga
(In allliona of dollars)
(?arcant)
Coaputad
annnal rate
of interest
(Zn Billions of dollars)
(Percent)
36,576
39,886
42,376
48,387
71,968
947
1,037
1,095
1,218
1,644
2.589
2.600
2.583
2.518
2.285
4,853
5,450
5,498
6,360
4,549
2,759
3,869
4,969
5,357
5,376
1.978
1.925
1.935
1.995
2.107
135,380
199,543
256,357
268,111
255,113
2,679
4,092
81
20
M64
409
5,351
5,374
1.979
1.929
1.936
1.996
2.107
5
7
2.059
2.066
2.078
258,378
258,113
255,800
'5,322
5,332
5,316
2.060
2.066
2.078
262
181
175
4
258,294
255,976
5,327
5,336
5,319
254,598
255,146
255,197
5,318
5,344
5,376
2.089
2.094
2.107
254,427
254,975
255,113
5,315
5,341
5,374
2.089
2.095
2.107
171
171
83
3
256,395
257,183
5,424
5,464
2.115
2.125
256,321
257,110
5,422
5,463
2.116
2.125
74
1
73
1
76,517
M^
Intarast-baarlas
dabt outstanding
Ooarantaed obligations j/
Ooapatad
CoBpatad
Interest-bearing
Interest annual rate
debt outstanding
of Interest
charge
2.57?
2.534
2.5l4
2,438
2.260
5't,7'*7
Maroh
Coaputad
""""1 rata
of Intareit
V
Oonpatad
l,06e
1,149
1,203
1,335
1,729
U7,g7U
,
PiitUe datt
Sailor Treasury St&teaent.
Treasury bills are Included In intereet-bearlng debt figures at face
anount, but for purposes of calculating the eonputed *wwnal interest
charge and the computed rate of Interest, the discount Talue is used.
Por the purposes of coBpating the nnwl interest oharge and rate of
121
112
109
117
85
467
83
1
3
3
3
1
(Percent)
2.498
2.052
1.978
1.834
1.861
1.968
1.335
1.321
1.410
1.758
1.642
1.758
1.763
I.7I8
1.706
1.758
1.767
1.776
Interest on United States saTlnga bonds, Series A-I are considered
to yield 2.909( per annua and Series P is considered to yield 2.53^.
Ooaranteed securities held by the Treasury, and securities goaraateed as to Interest only, are not Included In this table.
Obligations of Govemaent Corporations and Other Agencies Held by the Treasury^
(In Billions of dollars)
Ind of fiscal
year or aonth
Total
Ooaaodlty
Orsdlt
Oorporatioa
Xiportlaport
Bank of
Washington
Parmer s'
Bom
idmlttls-
tratlOB
Pederal
Para
Mortgage
Corporation
Hoaa Ovnera'
Iioan
Corporation
7,535
10,717
12,169
11,673
11,946
1,950
900
1.591
1,301
510
516
1947-Januaiy
Pebruary.
March
10,828
10,891
10,985
820
866
830
97
179
272
April....
10,946
10,473
11,946
865
284
510
q
1943
1944
1^
1946
1947
.
•*ay
Jnna
July
Augnst
Sourc«i
*
1/
.
.
11,948
11,917
212
580
,010
737
529
283
398
383
360
347
5,033
8,416
9,020
9,205
9,966
57
57
57
607
590
574
360
350
8,887
8,839
8,902
5!
56
56
350
8,769
8,807
9,966
5f
56
56
347
347
9,958
9,277
21
in
53
Treaatuy Statemeatthan $^00,000 .
The obligations shown In this table were lisued to the TreasnrT' to
finance the actlTltles of OoTemaent corporations and other
Itally
Leu
Tannassea
Tallay
Authority
366
108
13
20
516
516
Ilactrlfi eat ion
Idalnlst rat ion
274
?
516
Oorporatlon
ftiral
551
10
l40
400
tlOtt
PI nance
263
15
20
foJ
302
4,079
Beoonstmo-
864
243
7
20
2,534
883
1938
1939
1940
1941
1942
Pnbllc
Housing
idalnlstration
21
529
19
16
499
58
57
57
511
a^eneleo, with the Treaaory Iteelf raising the neeessazgr fundi
fo arold dnpllcatlen, these
pnltlle debt operations,
•eonrltles are not Included In the guaranteed debt oatstandln<
shown
preeedlng
tables.
aa
la
throng
56
56
October 1947
25
Analysis of Issuance and Retirement of Public Debt
(In mllllonB of dollare)
a6
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United Statesi/
As of August 31, 1947
(In allllone of dollara)
Year
and
Bonth
Treasury Bulletin
27
October 1947
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States i/
As of August 31, 1947
(In
-
(Continued)
lllioni of dollu-i)
iBount of Batarltlee
Amount of aaturltleo
Y«ar
and
Daacrlptlon of aaourltx 2/
OBth
Date
bank reCallable ieeuee •trleted
ri»d claeelfled ^J laiueo
year of:
beooae
aatubank
rlty
final
eligible
Itiuaa Tlret
atttcall
2/
Tear
and
Deecrlption of aecurlty 2/
onth
rltjr
196U
1956
Mar..
2-1/2* Bond - 3/15/56-58-
Juno.
2-1/1* Bond - 6/15/5'»-56.
Sapt.
2-3/ll)(
Bond
l.UJq
681
6,253
2-1/2)1
Bond - 3/15/56-58.
Bond - 6/15/58-63.
2-1/2)1 Bond - 6/15/6U-69..
3,761
"•/15/53
Dec.
2-l/2)t Bond - 12/15/611-69.
3,838
9/15/53
7,600
681
1965
1958
2-3/l()l
June.
982
3.823
9/15/56-59.
9/15/56-59.
i-l/H Bond
Nar..
Data
bank reCallable teiuei •trletad
elaoBlfled by
latuee
rixed
become
ata- jrear ofi
bank
ri ty
rinal
ellgltle
laauee rirat
atueall
1/
rtty
Har...
2-1/2* Bond - 3/15/65-70..
Deo..,
2.3/1* Bond - 12/15/60-65.
2/1/5*
5,197
l,li«5
l,Ult9
5,197
1,'»85
919
919
1,1*9
1966
Mar..
2-1/2* Bond - 3/15/66-71.
l2/l/5t
3,li«l
1959
5,28U
Jvne.
2-l/l# Bond - 6/15/59-62
Sapt.
2-3/1* Bond - 9/15/56-59....
2-1/1* Bond - 9/15/56-59....
Dae.
2-1/U* Bond
-
6/15/52
12/15/59-62...
8,75'»
2,118
2-1/2)1 Bond - 6/15/62-67..
2-1/2* Bond - 6/15/67-72..
12/15/52
S.'iTO
1967
June.
982
3,823
7,967
Sept.
2-1/2* Bond - 9/15/67-72..
2,716
Deo..
2-1/2* Bond - 12/15/67-72.
11,689
12/15/62
u.sou
22,372
1960
2,118
1968
Nar.
2-7/8|(
Bond
3/15/55-60..
Dae.
2-3/>* Bond
12/15/60-65.
2, 611
l.UgS
Panaaa Canal bond
-
2,831
12/1/52
June.
2-1/2* Bond
6/I5/6I1-69..
3,761
V15/53
Dee..
2-1/2^ Bond
12/15/611-69.
3,838
9/15/53
1969
2,611
1961
Jvaa.
2-1/2* Bend - 12/15/63-68.
Dae..
1,U85
Total.
6/I/61
7,600
50
1970
19te
June.. 2-1/1* Bond
2-l/2)( Bond
Oac.
5/5/52
6/15/62
6/15/59-62...
6/15/62-67...
5,28U
6/15/52
5/5/52
S.ltTO
12/15/52
2,118
2-1/1* Bond - 12/15/59-62..
5,197
2/1/5*
3,M81
12/1/5*
June.. 2-1/S* Bond - 6/15/67-72..
7,967
6/15/62
Sept.. 2-1/2* Bond - 9/15/67-72.
2, 716
Har... 2-1/2* Bond - 3/15/65-70.
1971
Mar... 2-1/2* Bond - 3/15/66-71.
2,118
Total.
8,75'»
1972
1963
Jvaa.
2-3/1* Bond - 6/15/58-63
Dae..
2-1/2)8
Total
Source
1/
Bond - 12/15/63-68
919
12/1/52
2,831
2|831
919
Sallj- freaBury StateiMnt, md r«port« to the freaBUJ7.
Ixcludea (l) poet&l Barlnge boula and \2) Tedaral Boneliie Adalnletratlon d«bentarei (the only Interest-bearing pnblle aarketalile
goaranteed eecnrltlet outBtandlng)
It should te noted that oallahle IseneB appear tvlce In this colnmt,
once In the year of flret call and again In the year of final matuCallable Issues vlth respect to which a definite nottoe of
rity.
Ibr
call has been made hoverer, are listed as fixed maturltlee.
Dee... 2-1/2* Bond - 12/15/67-72.
Total
U,689 12/15/62
22,372
Aate of Issue of each Seenrltj, see eh^^ter on '^Ices and Tlelda of
OoTemsient Securities'!
for tax itatua, see chapter on "Ovnerehlp
of Qorernnent Securities'.
Bank restricted leaues may not be acquired hy commercial banks (vlth
minor exception*) prior to a specified date. See footnotes to tables
on 'Public Ssbt and Ouaranteed Obllc«tlOB> of the United States
QoTemneBt Oatetandlag'.
28
Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Data
Treasury Bulletin
October 1947
29
Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States
Date of
refunding
30
Treasury Bulletin
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
Offerings and Maturities of Treasury Bills
(AmounlB In millloas of dollari)
Data of
Ittue
October 1947
31
Sales and Redemptions of United States Savings Bonds
sals
United States saTlnge bonds were first offered for
In March 193^.
Bonds of ssrles il-D were sold
between March I935 and April I9IH.
Series E, F, and
bonds have been on sale since May
19U1.
Series A-E bonds
are
1,
lO-jrear
discount
bonds sold
of
per annum If held to maturity.
year current Income bonds,
est at 2-1/2^ per annum,
Series Q bonds are 12-
sold at
par, bearing Inter-
and redeemable at par at matu-
rity or at stated prloes lees than par before maturity.
periods
and
'Treasury Bulletin'
with
certain restrictions.
For
and restrictions see
December IS^k, page 36, foot-
periods
for
and 'Treasury Bullstln' for February 19U6, page
For details concerning
37, footnote 9, and page A-22.
features. Investment yields, and redemption values see
note
maturity value, and yield 2.90)( per annum If
held to maturity.
Series T bonds are 12-year discount
bonds sold at 7^% of maturity value, and yield 2.3'}%
at 1^%
certain
details concerning these
9,
'Treasury Bulletin' for Ootober 19^5, pages A-t andA-5.
Series A bonds matured In 1943, and series B bonds
Series C bonds began to mature In January
19'l'7>
Matured bonds turned In for redemption are Included In the figures on redemptions.
Matured bonds
In
19'^.
outstanding are reflected In the Interest-bearing debt
bonds of the series have matured, when they
are transferred to matured debt upon which Interest has
until all
Purchases of series A-D bonds were limited to
17,300 issue price In any one calendar year. These
bonds were available to all subscribers prior to
April 1, 19'^0, and to Individuals only after that date.
Purchases of series E bonds are limited to t3i730 Isstta
price In any one calendar year, and may be made only by
Individuals (defined as natural persons only). The
limit for series F and d combined Is (100,000 lesue
price
In
any
19*^1 ).
one
Series F and
of
the Dally
In the following tables sales figures are quoted
at Issue prloe, and redemptlone and amounts outstanding
at current redemption vidues.
Amounts of series
out-
standing are quoted at par.
After June '}Q, 13^7, data on aales and redemptions
classified by States will be published only at the end
of each calendar year and eaoh flsoal year.
Table 1.- Summary of Sales and Redemptions, by Series
As of August 20, 1047
Usltad Stmt*>
the practice
calendar year
($50,000 In calendar
bonds are available to all
subscribers except commercial banks. Commercial banks,
however, were permitted to purchase these bonds during
year
ceased, In accordance with
Treasury Statement.
Treasury Bulletin
32
Sales and Redemptions of United States Savings Bonds
-
(Contlnned)
Table 2.- History of Sales and Redenptlons
Bcdoaptlona 2/
•&!••
y
Aoorufld
8*1*(
pla«
discount
•cenwd
fotal
discount
•aaol
prleo
(In Blllloni of dollaro)
ill oorlot
riieal 7*>roi
1935-19^
3.120
1941
IJ"*
Wits
1.1192
5.99*
11.7«9
19IA
19'«
191*
u
128
I5."t98
lU.891
9.612
7.20S
19'»7
Calondar yoaroi
1935-19'tO
ig&i
i9ie
19U3
3.'A9
3.036
9.157
13.729
19UU
l6.0lti»
19"*5
19I16
12.937
7."«7
Nonthii
lS't^-ltLMaIT
952
VotoruATy
Mnroh
616
i^rll
572
IMS
U82
«V
iva*
Jaly
Au^ot
Total, iBcaptlon to ingoat 31, 19U7.
70,622
2,3glt
iaount ontttandlnc
Aecnud
Mnturad
dltceont
dobt
Zntorootkoarlac
dobt
Parcont of
OBthl/
rodOBptioBi
to laount
otttttandlB^
October 1947
33
Sales and Redemptions of United States Savings Bonds
Table 2.- History of Sales and Redenptlons
-
-
(Continued)
(Continued)
R«d«^tloBO 2/
8>1«
1/
Aooru*d
discount
Salot
plu*
accrued
discount
Aeeruad
discount
Saloa
prlca
Total
(1} BlUlona of doUara)
Sarlea B, f
,
and
Tlscalr Taars;
66U
5.993
11.789
I9l»l
igte
19'»3
19IA
15.1498
lU. 891
19>»5
I9't6
9.612
7.208
19''7
2
664
5.995
36
11.82')
127
28U
167
583
15.625
15.175
10.078
7.791
1
1
75
75
760
760
2.292
4.156
6.U08
5.063
2.286
U.I34
6.337
lU
246
1.504
3.263
5.332
6.038
l4
245
1.502
3.251
5.2?3
5.9t
94i
349
405
386
341
396
Ul6
I106
Calandar years]
2.537
9.157
19ltl
19l«
12,937
7.'«7
12
7t
195
379
533
952
712
616
HI
ig"*?
191*4
19"^
W"*
2.537
9.169
13.804
16.239
13.315
7.961
Mratha:
19UT-jKiuar7
Tabruary
Ksreh
^rll
Itajr
572
Ug8
Total, Inception to August 31, 19U7.
U4
616
1|6
379
403
67
Jttaa
July
August
1.009
P
622
505
420
in
66,673
1,607
68,279
19,546
372
n.a.
n.a.
_
Aaount
outstanding
(Interastbaarlng
Isbt)
Parcont of
monthly
rsdaaptloBS
to aaount
outstanding
I
Treasury Bulletin
3^
Sales and Redemptions of United States Savings Bonds
Table 2.- History of Sales and Redemptions
-
-
(Continued)
(Continued)
Badasptloas 2/
Salei
8al«t 1/
Aocruftd
pl\is
discount
aecnwd
dlteotmt
Accmad
Balo*
prlco
Total
dltCOQBt
laouat
oatstandla^
(latarsstbaarlnc
F*rc0iit of
onthlj
r«d«Bptloaa
to aBouttt
d«bt}
outttandlng
(Id llllons of dollar*)
Sarlei f
riacal /earn
19^1
19U2
19^}
194U
67
75«
19»t5
802
679
19^
lt07
X9U7
360
Caleadar yaarai
19U1
208
652
7U5
773
595
325
191*2
19V
19U4
191*5*
19U6
67
2
9
19
33
^1
2
U
1*99
17
57
88
1.2ll2
IU9
11*7
1*07
203
2.895
3,099
208
65^
25
750
786
621
1|0
365
13
67
3
17
5«
89
3
760
811
698
lAo
Nonthai
IShf-JmnaBr^.
Tebruary
1.996
2.601*
207
7
7
35
77
106
189
35
77
lOU
18$
1.569
2.278
2.793
2.969
11*
3.013
3. 034
3.052
35
39
21
lU
21
20
^rll
33
lU
3.071*
25
2lt
16
18
15
Jona.
36
29
30
lU
>toy
3.088
3,099
July
August
27
21
33
17
21*
16
n.a*
n.a.
3,555
3,676
552
22
March
Total J Inception to
iu^st
31,
19^7.
Berls> S
TlBcal yearat
191*1
395
2,032
2.759
2.876
2.6^8
19112
191*3
191*1*
191*5
191*6
395
2.I165
2,561
19't7
Calandar yearai
19U1
191*2
1.185
2.516
191*3
2.61*0
191*1*
2.891
2.520
2.637
191*5
191*6
Month!
191*7- January
Tebniaz7
March
^ril
May
Juna..^
July
Au^st
Total, Inception to August 3I, I9U7.
36*
278
209
191
158
157
IS
l6,08l*
16. 081*
a. a.
n.a.
3,115
3,123
3,123
October 1947
35
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 3.- Sales by Series, Classified by Denominations
llllou
Sal«a la
Parcanta^a diatrlbutlon of aalaa
of dollaxa at laaua prlea
Danoalnatlon
Oanoal nation
Pari si
Iota
Total
all
daaoainatlona
all
danoal-
10
natlona
»25 2/
l,lt81
100.0
100.0
100.0
17-5
36.1
2.01)8
100.
35-1
2.100
100.0
100.0
100.0
32.1
20.5
13-5
9.5
100.0
100.0
100.0
100.0
100.0
100.0
10.0
29-5
36.0
100.0
100.0
100.0
It. 7
16.
100.0
100.0
19. 1)
»10
$100
»50
i;
»5oo
1200
)1,000
5.000
no. 000
3/
1/
50
and
lioo
and
500
and
»200^ 11,000
Sarlaa I
Plaoal Taarai
19IH
I9l<6
203
3.526
8,271
11,820
11.553
6.739
19''7
lt,287
1911a
I9't3
1914*
19"^
16
lU
616
2,988
1.081
1,7111
4.11)9
1.6112
3.928
2,101
8&)
1.725
910
2.5gU
2.U06
1.102
I109
585
Hit
1.769
93
712
1.390
1.797
l,Ul6
516
258
13
Ul
Ul
31)2
813
637
1.007
1.397
1,326
197
120
93
1.119
77lt
1.591
617
1.60
229
856
U90
1.313
I.8I5
2,163
2,002
7-1
6.5
9-7
13.1
13.9
20.1)
66.0
23.0
l»9.8
20.7
21.9
20.8
19.3
I6.U
30.1
29.1
29-7
35.1
53-6
8.1
11.9
22.6
13.1)
ll).5
21.0
21.9
19-?
17.»
59.3
36.2
29.6
29.2
ll).9
Calandar jaarai
l.lUS
19I1I
19MZ
loisUU
12.380
9.822
IS"*?
ism
IS**?
19I46
»5
«.Z)»1
3.2I13
31
1.177
27
Noathai
IJUT-Jaa
2.706
l.sMS
637
68
10
3U9
305
301
60
5«
9
8
9
339
29^
55
372
t9t
KW
Aa*
July
.
.
.
115
138
1,1)02
£1
149
257
«3
17
10
u
r«k
Mar
Au^at
2! 169
11)1
119
116
3l).U
33-9
27.1
18 :l
lU.I)
11.6
22.1)
S'9
8.1
9-1
1U.7
15.1
16.0
63.5
60.5
16.3
16.9
17.6
5U.8
53-1
52.8
17.3
17.9
55-2
53.6
SO.
3t.5
7-1
100.
20.0
19.6
9-5
10.0
10.0
10
9
s
llU
100.0
100.0
18.1
18.8
9.U
9.7
335
5,893
10,363
100.0
31.8
13.1
56.5
Inoaptlsa
Total
to au«u«t 31|
U7,03U
19^7
150
1U,77B
6,183
9,338
Bariaa f and
ft
tlieal jpaarai
191)1
1)61
191)2
2,1)67
19't3
191)1)
a:;::::::::
l9't7P
6
71
3.517
3.67S
3.337
2.873
2.920
106
13U
109
1.393
3,168
26
98
123
liJ
229
291
255
61
1.362
1,172
1.167
100.0
100.0
100.0
100.0
100.0
100.0
100.0
1.2
2.9
3.0
3.6
3-3
2.1
1-5
100.0
100.0
100.0
1.8
687
676
1.331
1.187
670
96
81)
702
1)98
263
1.055
1.016
1,156
1,012
901
532
'i96
1,1)66
683
595
1.1)09
i
Calandar yaarai
191)1
m
19>t2
W"*!
19lt<«
i?l2:::::::::::
3.115
2.962
^^}
8U
>»7
5J
196
267
293
215
166
355
906
116
119
933
928
27?
l.»5
100.
537
1.31*2
611
1,208
100.0
100.0
3.6
2-7
1.6
100
85
78
66
229
157
97
100.0
100.0
100.0
1.0
1.2
l.U
pi
Monthii
fat
"17
319
liar
£1)1)
ipr
22l)
13
1)8
8U
Jiua p....
183
181
10
10
II
60
uz
Ul
68
100.0
100.0
100.0
1.6
1.5
1.5
Jal7 p.
iuguat p
220
165
lU
11
76
57
52
37
75
57
100.0
100.0
1.6
1.7
1,298
5,91*6
3,811*
8,025
100.0
2.7
19l)7-JaB
"ayp
.
.
.
57
52
68
Total, Inception
to
Au^Bt
19^7
31,
19,639
536
23.7
li.l
IS. 000
and
(10,000
Treasury Bulletin
36
Sales and Redemptions of Treasury Savings Notes
Treasury savings
notes
were
Issued
In
three
se-
through
June 22,
series B from August 1, iglf-l through September
1914-3,
whloh have been on continuous
12, 19'*2, and series
19''-2.
All of series A and B
September
l"*,
sale since
ries,
series A
from August 1,
19U-1
and some of series C notes have matured.
notes are sold at par, and accrue In
each month, yielding 1.07^ per annum If held to
These notes
maturity (3 years from date of Issue).
may be used In payment of taxes any time after 2 months
after Issue, or may be redeemed for cash any time after
Series
value
after Issue. Tor details concerning features.
Investment yields, and tax payment or redemption values,
see 'Treasury Bulletin" for October 19'*5. pages A-^*- and
For details concerning the features of series A
A-5.
6 months
and B notes, see "Annual Report of the Secretary of the
Treasury" for 19'^2, pages 207 and 220.
In the following tables sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes turned In for redemption (either for cash or for
tax payment)
are Included In the figures on redemp-
tions.
Matured notes outstanding are reflected In the
interest-bearing debt until all notes of the series
have matured, when they are transferred to matured debt
upon which Interest has ceased.
In accordance with the
practice of the Dally Treasury Statement.
For sales
and redemptions of series A and B notes by fiscal years
and months, see
pages ^2 and h}.
"Treasury Bulletin" for February 1946,
Table 1.- Sununary of Sales and Redemptions, by Series, as of August 31, 1047
(la milliont of dollara)
TrMtttT7 MTlifi not«(
October 1947
OWNERSHIP
37
OF
GOVERNMENT
SECURITIES
Treasury Bulletin
3«
Suimnary Distribution by Classes of Holders of Interest-Bearing Securities Issued
by United States Government and Guaranteed by United States
(X&
lllloni of dollart)
tecurltlaa latiwd bj 1TBlt«d fltat«a QoTtrDBtnt
Sacnrltlaa (uarantaad
Dlatrlbatlon k^ cl»at«a of holdort
QoTamaent
a^noloo and
Tadaral
Total
ount
truat funda
Buka
U* B.
Ind of flaeal
7«ar or aonth
puMic
and
apaclal
laauaa
Fublic
nrka t*bla
laa\i*a
laauaa
118,387
19>I2
71.968
io,3i«)
2,1*52
19*3
19UU
135,380
lU,09l
18,920
zk, 93U
29,121
32.809
19U1
199.5''3
256,357
lU
ilii::::::
IS*?
268,
19l»7-Ju..
I*b..
Nar..
258.378
255.113
258.
U3
255.800
l«7
31,157
31,302
31,561
ipr..
Mar-Joaa.
2511,
25^.975
255.113
31,585
32.1U2
38.809
July.
256,321
257,110
33,3>o
33,736 p
Ati«..
Sour cat
Public
•tila
1,791
1.835
2.028
2.10U
36,576
^9.886
2.376
Public
nrkat- non-
5.605
6,803
8.225
19>io
1938
1939
V' 9. dovaraaent
aconelaa and
Total
truat funda and
OBOunt
fadaral Raaarra
unaaturad
Banka
outatandlBC
out•taadlnc
Total
Spaolal
laauaa
^
2.676
3.770
''.775
6,120
7.885
36
36 p
1,556
2,151
3,166
5.55^
13.507
1*5,1*81
't.853
5. ''50
5.1*98
6.360
i*.5l*9
abla
Isauas
6
9
83
2
777
23. 9'H
25,183
25,117
22.593
203,280
202,695
ll*6,
2lt,938
201.6ii6
11*3,
160
966
526
57.120
57.729
58.119
262
181
175
25,280
26,186
27,366
21.857
22.088
a. 872
200,985
200, 7UU
11*2, 1*10
200,1»32
11*1, itC3
58.575
58.826
59.010
171
171
83
28,516
29,220
21,51*9
201,1132
lU2,172
59,260
22,192
201,182 p
I'll.
59.''6'*p
(1) Dall7 Traasuiy Stataaant for total aaouat* outttandln^;
(2) laportt of a^eaclaa and trutt funda for aaeurltlea hald
U. S> OoTaraaant a^neloa aad truat funda; and (3) fadaral
7.l't9
899
21.792
lit.
81*. 91*8
1*,092
120.880
1.516
153.1*21
159.:O6U
11*1*,
li*l,
919
719 P
laUd b/
tay
Raiarva S/ataa for aaeurltlaa hald bjr fadaral Baaarva Banka.
Prallaloary.
Lai> than I5OO.OOO.
Bxcludai obligations hald by the Treasury and aaturad acurltlae.
¥be total aaount of eacurltlai hald by prlTate laTestore is ealcu-
5/
nOD-
5.161*
170
U
176
3.738
1.186
28
68
150
37
I
9
n
10
2
1
arkatabla
ItruM U/
5.212
6.085
*,262
37
1
73
rnblle
'*.528
325
286
286
275
287
1*67
37
U,U80 p
27,989
29,579
29.950
33.^28
laauaa
Paklle
1109
2"*.
lt,7»g
2.6>tO
33.115
37.982
58,988
arkatabla
2/
•arkat- noaabla
aarkatabla
laauaa laauaa
56,209
56.1U3
59,010
37
37
5,W7
31. 730
abla
laauaa
PriTata
Inraatora
Public Public
lltl. 1*23
37
6.268
5.919
29.51*5
2,551
2. •58
2.180
Public
Boa-
Z00,l»32
6.3''3
6.3't2
2,56>t
arket-
21,872
6.328
6.105
6.759
5.'W7
laauaa
Public
23. 783
36
7
10
17
abla
laauaa
Total
public
llU.lUl
165.725
209,630
215,206
10.871
lU,287
18,812
22.332
27.366
3.213
't.623
arkat-
Ualtad 8tat«a 1/
DlatrlbutloB bj claaaaa of holdara
PrlTato
Inraatora
fiaaerra
^
33
p
33 p
217
135
130
126
125
U5
1*0
39
daductlas froa tha total aaouat of aaeurltlaa outataadlac,
tha aaeurltlaa hald ty Q* 8. OoTaraaaat aeanclaa aad truat funda
and b7 Padaral Baaarra Banka.
Xaeludaa Vnltad StaUa aarln^ boada, Sarlaa A-I at maturity valua.
Coaaiata of Coaaodl^ Cradlt Corporatioa daaand oblisationa atated
aa of the eloso of the prsTloua aonth. la aecordanoa with tha BaUj
Traaaui7 Stataaant*
October 1947
39
Estimated Ownership of Interest -Bearing Securities Issued or Guaranteed
by the United States Government
(Par Taluei 1/ - in billion* of dnllari)
Bald t^ bankt
Ind of
Bontta
Total
aaount
outstandln« 2/
Commercial
tianka
j/
Hald
Tedaral
ReaazTe
Banks
IndlYtduala k/
Insurance
companies
tQT
non-bank inTastora
Mutual
savings
banks
Other
corpora^
tlons and
asBociatlons
^
1939- December.
18.
15.9
2.5
50.
18.6
19.5
16.1
17.3
2.5
2.2
5U.7
63.8
21.8
23-7
21.
76.5
111.6
28.7
26.0
''7.3
Ul.l
19U3-Nareh
June
September.
December.
118.6
139-5
161.0
168.7
50.1
67.2
71.5
kk.l
52.2
58.3
59.9
19UuNarch
I83.6
201.1
209.3
230.4
76.2
83.3
87.1
96.5
233.1
256.8
260.2
276.2
97.U
106.0
107.3
115.0
278.5
268.6
26U.6
238.0
116.7
108.2
IOU.3
97.9
8U]U
80.2
igU?- January...
Vebruary.
Narch
258.6
256.0
97-9
96.8
9U.1
73-9
72.7
71-5
i^rll
25U.6
255.1
255.2
93-5
92.9
92.0
70.8
70.1
256.U
92.1
70.5
U7.?
19110-Ains
December.
19Ul-June
December.
191l2-Juna
December.
June
September.
December.
19lt5-l(arch
June
September.
December.
I9't6-T*bruar7.
June
September.
December.
»f
June
Jal/ p.
. .
258.
59.it
19.7
61».0
68.
70.5
77.7
77-7
8>t.2
84.0
90.8
7"*.
5
71-7
28.7
State and
local
governments 6/
0.
8.
QoTernment
agencies and
trust funds
Treasury Bulletin
40
Treasury Survey of Ownership of Securities Issued by the United States
Govemaient and by Federal Agencies, July 31, 1047
The tables In Section
present summary data as of
I
such securities
owned
by
all
banks and Insurance com-
July 31, 1947, from the Treasury Survey of Ownership of
Securities Issued or Ouaranteed by the United States.
panies in the United States.
The banks and Insurance companies covered In the survey
of Federal Land Bank bonds, Federal Intermediate Credit
aoeount
Bank debentures, and Federal Home Loan Bank bonds.
for
approximately 95
Section
I
-
percent of the amount of
Section II presents summary
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary:
All Interest -Bearing Securities
(Ib KllllonB of dollart)
OlMaifleatlon
data
on the ownership
ki
October 1947
Treasury Survey of Ownership, July 31, 1047:
Section
I
-
Securities Issued or Guaranteed
by the United States OoTernment
Table 2.- Public Marketable Interest -Bearing Securities
PAHT A
-
(Continued)
-
ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES,
AND BY TAX STATUS- Continued
(
Hsld
Claislfleatloa
Total
anonnt
outatandlii«
^
InTeetori oovered in Traaatuy Sarrajr
Bank! 1/
7,318
eonmorolal
banks
s/
33
stock
earlogs
baaki
Xnvurano* ooapanlas
5UO
mutual
309
life
Insuraaoo
ooopanles
saving
banks
637 fire,
casualty,
n.nA msrlao
Insuranca
companies
All U. 8.
OoTarnnent
a^eaoles and
trust funds,
and Tederal
Has errs
Banks
Held by
all other
Inrestors
Peraeata^ distribution by classes of securities
Types ef security:
Issued by thilted States:
Treasury bills
Certificates of indebtedness
Treaaury notes
Treasury bonds - bank all^lble
Treasury bonds - bank restricted N/
Postal sanrlngs and other bonds
Ouaranteed by United States
^
Total
9.3
IU.9
k.S
»n.3
29.5
1.7
13.2
7.7
75.U
2.0
2.9
u.o
>»g.0
101.7
1.6
1.5
25.0
71.8
.6
6.1»
.6
u.l
17.6
81.1
.1
100.0
100.0
31.0
25.2
11.2
»»7.5
52.8
25.0
l.U
6.6
lU.O
1.8
22.6
5.8
28.5
Ul.l
.1
.3
100.0
100.0
32.0
16.7
S.k
11.1
18.1
13.6
100.0
100.0
1.6
9.1
7-1
9.8
57.5
12.3
13.2
1>».8
10.1
1.8
1-7
9.8
3.2
100.0
100.0
Call classes:
IXie or first becoming callablei
Within
1
year
1 to 5 years
5 to 10 years
10 to 15 years
15 to 20 years
Over 20 yoEirs
26.0
18,5
3.6
16.1
8.5
.I
100.0
100.0
6.9
ZL.l
a.
18.6
21.1
10.0
U.6
12.9
10.0
2U.S
33.9
lU.o
Various (federal Houalaf Adninlstratlon
debentures)
Total
Ta:E
status:
6/
Wholly exempt from Pederal Income taxes
Partially ezenpt from federal Income taxes..
Subject to federal Inoone taxes j/
Total
2>l.l
lU.g
255
.1
.1
.1
10.7
89.2
21.3
T8.7
100.0
100.0
aD.i
79-9
d
.s
.3
99.2
99.7
17.8
82.2
95-3
93-5
100.0
100.0
100.0
100.0
100.0
J
.8
88.3
26.2
5.0
38.7
30.5
17-6
35-7
"•.5
Parcanta^e dlstrllmtloa ly grtmpe of larestora
Typos of security
Issued by United Statesi
Treasuzy
Hi
Certifloates of Indebtednesg
Treasury notes
Treasury bonds - bank ell^ble
Treasury bonds - bank restricted k/
Postal sa7ln^ and other bonds
Ouaranteed by United States 5/
:
M
Total
Call claases:
Die or first becoming callable:
VI thin 1 year
1
to 5 years
10 years
10 to 13 years
:
to
20 years
15
Orar 20 years
Tarlons (federal Housing Adnlnlstratlon
debentures)
3 to
Total
Tai Btatusi 6/
Wholly exempt from Tederal Income taxes
Partially exempt from Pederal income taxes..
Object to federal Income taxes j/
Total
100.0
100.0
100.0
100.0
100.0
100.0
100.0
6.7
32.9
59-3
68.0
2.6
100.0
37-3
100.0
100.0
100.0
100.0
100.0
100.0
31.2
70.3
4i.3
.8
2.1
t.3
17.2
.
8.8
29.0
5-2
5-3
33.9
1.6
2.1
2.8
>t.6
68.0
9-7
.5
•7
10.9
38.7
3.0
7.1
12.3
1.9
15.6
.7
1.8
39-9
2.7
7.7
ii2;i
6.1
1.5
'1
9.6
17.0
19.2
35-9
28.8
a.
2.2
5-8
1(0.
25.6
.8
:l
.k
18.0
•3
1.0
3.6
6.3
21.9
1U.9
11.6
100.0
29.0
5-2
10.9
38.7
3.0
3.>t
9-7
100.0
37.3
7.1
12.3
1-9
15.6
25.6
100.0
100.0
100.0
.5
.5
.3
.7
7lt.2
32.9
7.8
13.8
3.1
1.7
21.9
6.6
16.7
68.0
1U.5
26.8
100.0
37-3
7-1
12.3
1.9
15.6
25.6
.1
.2
16.
8.8
(Cent limed on follovln^
pa^)
.6
26.1*
Treasury Bulletin
kz
Treasury Survey of Ownership, July 31, 1047:
Section
I
-
Securities Issued or Guaranteed
by the United States Qovemment
Table 2.- Public Marketable Interest-Bearing Securities
PARI B - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE
(Far Taluea - In allllona af lollart)
Isiue
(Tax atatus 6/ la
ahwn
In pareathesea)
-
(Continued)
OUTSTANDING
October 1947
•^3
Treasury Survey of Ownership, July 31, 1947:
Section
I
-
Securities Issued or Guaranteed
by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
-
(Continued)
PART B - DISTRIBUTION OF OVmERSHIP FOR EACH I33UE OUTSTANDINO - (Continued)
(Par Talues In nllllone of dollari)
laane
(Tax statQB 6/ le ihown In parenthesee)
)
Treasury Bulletin
kk-
Treasury Survey of Ownership, July 31, 1947:
Section
I
-
Securities Issued or Guaranteed
by the United States Government
Table 3.- Public Nonmarke table Interest-Bearing Securities
(Par T&luoB - In millions of dollarB)
Held
Total
lesne
ligr
InTestors corered In Treasur7 Surrey
Bank 2/
Insurance companies
aaouint
outstanding
(Tax status l/ is shown In parenthesee)
United States sarlngs bonde:
Serle. C-B
Series I
Series T
Serleo
5U0
mutued
7.318
commercial
bcmke
33
stock
earing
saving
3/
banks
banks
309
life
Insurance
companies
637 fire,
casualty,
and marine
Instirance
companies
All U. S.
OoTernment
a^ncies and
trust funds,
and Federal
Beserre
Banks
Eeld by
all other
Investors
V
^
l^)
2,951
30.833
3,115
1U,653
li»9
U76-
13
273
20
li£
31
199
12
2,787
30.832
2,825
13.571
51.552
8^
290
139
236
Ik
50,oiU
(taxable)
(taxable)
(taxable
5,592
329
1,82U
69
299
21
5,'t93
Ouaranteed eecurltles: J/
ConnDodity Credit Corporation demand obllga,tions 1/
(taxable)
UO
(taxable)
(taxable)
(taxable)
Total United Statee taring bonde.
Treasury saviii^e notes
lepoeitarjr bonde
Armed forces leaTe bonds
Total public nonmarlcetable secoritlas 8/
I
y
59,335
1
1.82U
1,218
Lees than $500,000.
See footnotes to Table 2, preceding.
Securities held In trust departments are excluded.
Includes trust companies.
This column includes securities held by those banks and insurance
companies which are not coTered in the Treasury Surrey.
See headnotes to this section.
United States saTingB bonds, Series C-C, X, and ' are shown at current redemption values. They were reported at maturity value by the
Section II
-
291
Issue
139
239
35
57.361
banks sad insurance companies covered In the Treasury Survey but have
been adjusted to ctirrent redemption values for uee in this statement.
Series C-S savings bonds sold prior to March 1, 19U1 are partially
tax-exempt; those sold on and after that date are taxable.
Guaranteed securities held by the Treasury are not Included.
C.C.C. demand obligations in the amount of $hO million, all held
by cominerelal banks, are shown only in total amount outstanding; data
for reporting banks are not available.
Interest-Bearing Securities Issued by Federal Agencies
But not Guaranteed by the United States
(Par values - In millions of dollars)
(Tax status 1/ is shown In parentheses)
1
October 1947
PRICES
^5
AND
YIELDS
OF
GOVERNMENT
SECURITIES
(Including securities issued by Federal agencies)
kS
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies, August 20, 1047
Table 1.- Securities Issued or Guaranteed by the United States Government^
PART A - TAXABLE BONDS, NOTES, AND CERTIFICATES
ABonnt
ont-
•tudlac
(Kll-
IIom}
October 1947
'^7
Over-the-Counter Closing Quotations, August 20, 1047
Table 1.- Securities Issued or Guaranteed by the United States Govemaent
PART B - TAXABLE TREASURY BILLS
iaount
out-
(MllUou)
^
(Continued)
Treasury Bulletin
hi
Over-the-Coanter Cloalng QDotatlons, ADgnst 20, 1047
Table 2.- Saeorltlea lasned by Federal Agenelea bat not Gnaranteed
Prlo« data
(Prlaa daolaala ara
iaottat
Tlald data
thlrtjr-aaooada)
oat•tandlBC
D*iarlptloa
(Kllllona)
Naan
Ohanxa
In
Tlald
Cbajl^
to
la
aan
earll- yield
atafroB
aat
ri ty
Jnly31,
oall
froa
Jul731,
to
IS"*?
2/
Data
of
loaaa
Tlald
Prloa raaca alaea
flrtt tradad 1/
(Prloa daolaala ara
thlrty-aaconda)
Prlea
19*7 prloa raa«a 1/
(Prloa deolaali are
thirty- saoonda)
Lew
High
2/
the United States
bgr
Bata
rrlee
Low
Hlgb
Sata
Prlea
Bate
Prlee
Sate
Taxable eeourltlea
Padaral Hoaa Lean
Baait bond!
$lllO
l-l/l»^ - U/lJ/Ug
100.00
100.0"* 100.02
UO.OO
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
u/u
1/8
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
8/29
3/6/1*6 loo.ou 12/U/1*6 100.16
99.00 12/2/1*6 99.22
2/5
8/29
8/29
lo/l5/'t6 ioo.03i '•/ll/'»7
•-.oii
1.15*
.oa*
1.15*
.00
.00
.00
.00
.00
.00
.00
.00
.00
.00
.00
.00
.00
1.00
i.ie
1.00
1.05
1.00
1.10
1.05
1.10
1.10
1.10
1.10
1.10
1.15
.00
.00
.00
.00
.00
.00
.00
12/2/116 100.00
3/l/!»7 100.00
.00
.00
.00
.00
.00
.00
1.00
1.10
1.00
1.05
1.00
1.10
1.05
1.10
1.10
1.10
1.10
1.10
1.15
+.01
1.21
1.37
.(A
i.)io
.07
.07
.05
1.^
i.n
S/l/tS 101.10
5/1/16 100.02
l/2/lt6 101.22
2/1/1.5 105.31
99.28 lo/ii*/i*6 ioo.03i
Padaral Intenadlata
~
Credit Baak
debentaree
^
13
27
sw
1.00^
1.1(9
1.00^
1.05)1
- 9/2/'»7
- 9/2/H7
- 10/1/U7
- lo/l/'i7
- n/l/UT
- 12/1/H7
- 12/1/47
20
l.OOt
1.119
1.09»
Ul
20
i.iojt
i.iojt
-
1/2/lW
2/2/U«
22
1.1(9
-
2/2/l*«
:
-
S/l/lW
31
^
i.ioit
i.iojt
30
1.15*
I'l'^pi
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
UO.OO
100.00
100.00
100.00
100.00
1/2/U7 100.00
Vl/'»7 100.00
2/l/'»7 100.00
100.00
3/1/J7
6/2/»7 100.00
Vl/''7 100.00
5/1/1*7 100.00
«/l/l»7 100.00
fi/2/U7 100.00
7/l/!*7 100.00
g/1/1.7 100.00
g/29/U7 100.00
8/29/"»7 100.00
8/29/>t7 100.00
«/29/»7 100.00
8/29/t7 100.00
8/29/17 100.00
g/29/l»7 100.00
g/29/'»7 100.00
«/29/lt7 100.00
8/29/1*7 100.00
8/29/1*7 100.00
8/29/1*7 100.00
8/29/1*7 100.00
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/U7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
8/29/1*7
Pederal Lead Baalc
toade U/
ao
l-l/2)t - lO/l/Ug-50
1-1/"* - 5/1/50-52
i9i
1-1/^-
114
2-1/11* -
1S9
2/
1/1/51-53
2/1/53-55
lOO.Og
99.20
100.11
103.10
100.12 100.10
99.2lt 99.22
100.15 100.13
103.12 103.11
.06
+.07
+.06
1.60
Prlo«i r«pr«s«nt tb» a«aa of oloalng bid and a«k quotations In tlia
OTor-tho-conntor aartnt. 'Vtaan loraad' prlcoi for all ooaurltlos
•xcopt Todoral latamodlato Credit Bank dabeaturoo aro laolodad.
Qatoi of hlgfao and lowt. In oaaa of raourranoo, ara tha latoot data*.
Narkat conrantlon traato tha ylald to aarllait call data as aora
slc&lfloant ^ea an laaua Is sailing aboTO par; the /laid to aato-
Jj
kj
3/11/1*6 99-22
3/12/1*6 loi.ik
12/3/1*6 100.13
1/18/1*5 103.16
'1/9
100.06
99.02
99.26
103.02
1/7
1/7
1/18
1/18
ritj as sore •Ignlfloaat lAen an Issue Is Bailing at or bslov par.
Prloas quoted are subject to a dealer's ooaalsslon. These seourltleo are not shown until date of Issue.
Ixclndes Issues oo^letelj held bj farm Oradlt Adaloletratlon
afaaolas.
»^9
October 1947
YIELDS OF TREASURY SECURITIES
AUG. 29. 1947
Bosed on Mean of Closing Bid and Asked Quotations
are al par or below.
ap/ana/ion The points npnseni ynWs lo call whtn pricts ore above par, and to maturily dale when prices
has been
The smooth carves for the various classes ol points are fitted by eye. Issues for which an exchange offer
mode or which are due or callable in less than 3 months are excluded.
Office of the Secretory of
ttie
Treosury. Office of
ttie
Tectinicol Stoff
.
Treasury Bulletin
50
Average Yields of Long-Term Treasury and Ck»rporate Bonds
(Percent per ennum)
Partially
Taxable
tax-exempt
Treaeiiry
Treaeury
bonds 1/
bonds 1/
Highgrade
corporate
bonde 2/
Partially
tax-exempt Taxable
Treasury
Treasury
bonds 1/
bonds \/
Monthly aeries
Feb..
Mar..
2.5U
2.51
2.U3
2.96
2.90
2.87
Apr..
May..
June.
2.38
2.27
2.22
2.92
2.36
2.78
July.
Aug..
Sept.
2.23
2.27
2.67
2.76
2.79
3.29
July
Aug
Oct..
Mot..
2.60
2.U6
2.35
3.1'*
Oct
Hov
Mar..
2.30
2.32
2.26
2.81
2.79
2.77
^r..
2.26
2. 7'*
May..
June.
2.5o
2.87
2.93
July.
Aug..
Sept.
2.30
2.31
2.25
Oct..
Hot..
1939-Jan.
Mar
Apr
Hay
June
,.
2.10
2.17
2.10
2.U8
2.U8
2.U6
2.76
2.80
2.80
19l*5-Jan..
Feb..
2.07
2. 06
2.(A
2.Uk
2.U5
2.0l»
2.06
2.08
Sept
2. '3
2.U6
2.U7
2.1;6
2.1*5
2.11
2.11
2.12
2.1*6
»eb
Mar
Apr
May
June.
2.05
1.96
1.91
2.1*8
2.85
2.80
2.71
July
Aug
1.91
Sept
1.92
1.9a
2.1*5
2.1*6
2.21
2.09
2.01
2.70
2.65
2.59
Oct
Sov
Dec
1.90
I.9U
1.95
2.1*8
2.12
2.22
2.12
2.57
2.71
2-73
IjWUan
1.95
1.93
1.91
2.1*9
Apr..
May..
June.
2.07
2.76
2.75
2.70
Apr
Hay
June..
I.9U
2.1*8
I.9I*
2.1*9
1.91
2.1*9
July.
Aug..
Sept.
1.98
2.01
2.02
2.66 j/
2.65
2.6U
July
Aug
1.89
1.90
1.93
2.1*9
2.1*8
Oct..
Sot. .
1.98
1.95
2.06
2.61
2.57
2.68
Oct
Sov
Deo
1.93
1.90
1.87
2.1(8
2.1*8
19>IO-Jas..
Teb.,
Dec.
19><l-Jan..
Feb..
Mar..
Dec.
2.0U
2.01
2.93
2.86
Dec
».
igl^S-Jan
Teb
Mar
,
Sept
,
Partially
tax-exempt
Treasury
bonds 1/
BtghTaxable
grade
Treasury corporate
bonds 1/ bonds
2/
averages of dally figures
2.09
2.10
2.13
Dec.
'
-
19>'2^an
Peb
Highgrade
corporate
bonds 2/
2.1*7
2.1*9
2.1*6
2.1*8
2.1*6
2.1*5
2.1*8
2.1*8
2.U9
2.1*9
2.1*8
2.1*7
2.U8
2.1*1*
Mar..
1.81
1.75
1.70
2.77
2.76
2.75
Apr..
May..
June.
1.68
1.68
1.63
2.39
2.39
2.35
2.71*
July.
Aug..
Sept.
1.63
1.68
1.68
2.31*
2.72
2.71
2.72
Oct..
VOT..
.62
2.70
2.68
2.70
19l*6-Jan..
2.38
2.1*0
2.58
2.56
2.51
2.1*9
2.53
2.51*
2.36
2.37
2.53
2.56
2.56
2.35
2.33
2.33
2.51*
2.51*
2.51*
Feb..
Mar..
2.21
2.12
2.09
2.U3
2.36
2.35
2.68
2.65
2.63
Apr..
May..
June.
2.08
2.19
2.16
2'.U1»
2.58
2.57
2.59
July.
Aug..
Sept.
2.18
2.23
2.28
2.1*1
2.60
2.61
2.63
Oct..
Hot..
2.26
2.25
Dec,
2.21*
2.51
2.51
2.55
2.65
2.65
2.6U
19l*7-Ju>..
Teb..
Mar..
2.21
2.21
2.19
2.61
2.58
2.58
J*r..
May..
June.
2.19
2.19
2.22
2.1*9
2.59
2.57
2.55
July.
2.25
2.2U
2.51
2.51
2.73
2.73
2.55
2.61 kj
2.59
Dec.
Aug.
.
.56
2.1*2
2.1*1*
2.50
2.1*8
2.1*8
2.1*9
2.1*9
2.50
5/
October 1947
L.
51
Treasury Bulletin
52
INTERNAL
REVENUE
STATISTICS
53
October 1947
Summary of Internal Revenue Collections
^
Cin thousands of dollars)
Tiscal year
or month
Total receipts from
Internal
revenue
(Dally
Income and profits taxes
Adjustment
to D&lly
Treasury
Statement
Total
Internal
revenue
collections
Treasury
Statement)
Total
Income
and
profits
taxes
IndlTidual 2/
Corporation
income and
excess
profits
y
1938
1939
19UO
5, 671*, 318
+30,1*70
5,6U3,8l*8
2,629,030
1,286,312
5,161,231
-1,133
5,162,361*
2,185,111*
1,028,831*
-19,6J7
5,322,771
2,129,609
191*1
7,361,675
12,993,118
+10,11*1
7.351,53"*
3,1*71.12'*
-36,797
13,029,915
8,006,88l*
982,017
1,417,655
3,262,800
22,368,721*
1*0,119,510
1*3,800,338
l*0,671,922r
16,298,888
33,027,802
35,061,526
31,258,138
6,629.932
18,261,005
19, 031*, 313
18,701*. 536
9. 581*, 715
14.629,31*4
39,108,273
29,020,051*
19,3'»3.297
9,621,271*
5,303,13't
19U2
I9lt3
19it5
191*6
22,11*3,969
987
1*3,902,002
to, 310, 333
ig"*?
39.379,«09
191*1*
1*1, 681*,
191*7 -January.
Jabmary
V 1*15,216
-22", 755
+1.565, '•77
+101, 66U
-361,5891
+271,136
1.299.932
1,122,541
1.120,582
2,016,297
U, 687, 1*62
15,883,235
12,1*62,1*37
Social Security
taxes
Old-age
insurance
Unempl oyment in-
Railroad
retirement
1/
surance^
33, 71*0
71*2,660
740,1*29
833,521
925,856
1,185,362
502,918
529,836
605,350
687,328
895,336
90,267
101,167
106,123
100,658
119,617
149,1*76
109,1*27
27,010
37,172
56,621
8l*,2l*l
1,1*98,705 1,131,51*6
156,008
1,738,372
1,779,177
1,700,828
2,024,365
1,290,025
1,307,931
1,237,825
183 737
186,489
i,i*58,a34
185,876
211.151
265,011
284,758
284,258
379,555
30,157
101,302
12,727
1*2,786
137,1*52
11*3,978
91,165
55, '«3
178,71*5
122,048
137,871
170,1*09
188, 1*63
516,127
1*05, 51*4
3.375,3'«
3,359,367
2,853.32^
1*_
3,052,1*24
2,01*8,626
30i»,oi*5
5,898
2,898
1.791.996
3,1*82
88,208
76,950
240,972
13,136
29l*,039
2,368
3.25'*
3,201*
2,1*36
123,856
287,800
6,959
'*,076
232,127
131,186
331,960
97,622
10,440
788
33.720
89.875
11*8,287
138,716
2,893
6.679
March...
5,1*1*6,121*
'*,570.311
April...
May
June ....
2,309,306
-1*20,588
2,729,891*
2,578,461*
-27'',
3,992,776
+729,620
2,853,221
3.263,156
1.958,399
1,920,555
2,550,605
1,661,992
1,685,223
1,101,038
1, 1*67,131
July ....
2,125,762
-557. '«5
2,683,21*7
1.850,976
l,'»30,i*37
1*18,256
TlBcal year
or month
Total
employment
taxes
1*,
3,8l«,10l*
271*, 1*61
Miscellaneous
profits
taxes H/
-773,2'»8
-131,083
+875,813
It,
Employifient tares
757
108,956
367,1*32
1,81*9
25,158
56,3'»6
'
Treasury Bulletin
COLLECTIONS OF INTERNAL REVENUE
DOLLARS
DOLLARS
Billions
Bllllont
Total
50
-Fiscal year
40
'Comparison
fiscal
first
month
years 1947 and 1948
30
20
10
1933
34
35
36
'37
38
'40
39
'41
DOLLARS
DOLLARS"
Billions
Blllloite
Individual
Income Taxes
22
12
1933
Tii
Estate and Gift Taxes
42
43
'44
48
'46
47
'48
October 1947
55
Detailed Analysis of Internal Revenue Collections J/
(In thousands of dollars)
fiscal 7«ara
Jnlj
Iff
of tax
IncoBO and profits taxes:
IndlTldual:
Vlthheld ly employers:
Ourrent Tax Fafsient let of 19>t} g/
BaTanoc let of 1942
Other!
Oorrent
Back
19>t«
19*7
19)|£
9,857,'««
123
^
9,Slt2,028
25H
8,950,272
Total IndlTldusl Ineoma taxes
Corporation:
tnooae taxes:
Oorrent j/
Back
Zxcess profits taxes (Second BeTemie Adt of
as aaended)
1(16,571
550,7'*3
l«,70lt,536
19,3'*3,297
3,901,917
738,032
5,'Al.776
613,320
19110,
Total corporation taxes
Klscellanaous profits taxes:
declared ralua
Vinson Act
Unjust enrichment
Total alsoellaneous profits taxes
Total Income and profits tajcss
7,g2g,'tgg
3.566.178
12, "462, 1*37
9,621,271*
91,130
55.185
35
298
91,165
55. 'W3
3l,25«,l3S
29.020,051*
1,237,825
1,1*58, 93'*
178.7't5
185.876
ftiplOTnent taxes:
Social Security taxes:
Old-B^ Insurance
Unemployment Insurance 6/
Total Social Security taxes
^
l,Ul6,570
Ballroad retirement j/
28't,2M
Total employment taxes
1,700,828
Miscellaneous Internal roTenuel
Capital stock tax
352,121
629,601
Xstate tax
1*7,232
(M ft tax
Alcoholic berera^ taxes:
Distilled spirits (imported, exolse)
Distilled spirits (domsstlc, excise)
Distilled spirits rectification tax
Vines, cordials, etc. (imported, exoise)
Vines, cordials, etc, (domestic, excise)
Dealers In distilled spirits: rectifiers;
facturers of stills (special taxes)
Stamps for distilled spirits Intended for
Case stamps for distilled spirits hottled
Container staaps
floor taxes
fermented malt litjuors
Brewers; dealers in malt llquora (speolal
lU3,080
1,603,U97
1*1,880
2,59l»
58,250
manuexport..
In bond.
taxes)..
Total alcoholic berera^ taxes §/
SltO
13,309
696
650,824
3,106
2,526,162
Tobacco taxes:
Cigars (large)
Cigars (small)
Cigarettes (large)
Oigarattss (small)
Snuff
Tobacco (eheviog and smoking)
Cigarette papers and tubes
l^af dealer penalties, etc
Cigarette and cigar floor taxes
1*1,381*
70
'172
1,072,799
7,373
1*1,961
1,757
1,165.519
Total tobacco taxes
Stsmp taxes:
Bonds, iBsues of capital stock, deeds of conTsyanee etc
Transfers of capital stock and similar Intereat
sales
Playing cards. ..
•••
Silver bullion sales or transfers
,
Total stamp taxes. .•••••*••
8,061
25
•
''7,393
30,369
9,766
11*9
87,676
JulT
Treasury Bulletin
56
Detailed Analysis of Internal Revenue Collections^/(In thousanda of dollars)
Type of tax
(Continued)
October 1947
57
MONETARY
STATISTICS
Treasury Bulletin
5«
Gold Assets and Liabilities of the Treasury
(Zq
lllloni
of doll«r»)
lUkllltUt
Xnd of calsndar
yaar or month
Sold ••••t«
October 1947
59
Components of Silver Monetary Stock
(Ja alllloM of dollin)
81lT«r h«ld In Trvaiurj
Ind of eal«nd«r
T*^r or aoBth
Steurlag illnr
igw
938.8
1,137.6
1,298.2
1,398.1
19U1
1,1*76.1
i9te
,516.2
,520.0
,520.1
,703.9
,911.2
1937
1938
1939
191*3
19UU
19't5
19'i6
Tobruary.
Nareh.
1.913.1
1.915.5
1.917.0
^>rll....
Hay
Juaa
1.918
1.921
1.923
July
ia^oat p.
1,925
1,929.0
19>17-Jaauai7.
.
1^
.
In Oenoral Tund
ecrtlflcaUa 1/
BllT*r
bullion 2/
Sllrar
osttlda
Traaaury
Bubsldlai7
cola 2/
SllTor
dollara
503.7
502.7
U99.O
U9U.6
ueu.i
BollloB for
racolaafo ))/
81 War
dsllara 1/
128.6
535.3
616.0
657.U
662.3
3-5
5.3
2-3
3.5
lt68.3
I13.U
lii.U
1*8.1
52.5
63.0
Sobal diary
cola
^
366.9
372.8
Wlt.l
2,806.5
3.3'*6.8
'•93.5
3,790.2
U, 060.0
U.SUU.S
U22.lt
628.2
78.8
587.3
''.317.6
96.8
117'?
137.5
150.1
6811.7
It,
^^5:6
I85.6
93-1
771.6
el»6.7
3.870.6
3.512.8
901.1
3,5l'*.2
93.6
93.U
93.3
150.3
150.3
150.5
900.2
900.3
900.6
3.517.2
3.519.6
3.522.5
19.6
93."*
92.7
91.9
150.6
151.0
151.5
903.0
901.1
3.525.9
21.6
19.8
902. B
3.525.7
19.3
18.
93.6
92.5
152.5
153 •»
904.1
905.8
3,530.6
3,532.0
uoo.u
376.5
i&!u
12.5
10.2
lU.O
356.1*
3U3.1.
19.1
.1
15.8
15.9
18.8
3''3.3
3U3.2
3113.0
31(2.9
3I12.6
BttlllOB
at ooit 2/
Total
•llTar
at »1.29
par ouBoe
3ll2.0
31H.0
3'*o.l
207.
3.52'*. 9
allrar land-laaaad to foralgn goramaenta (aaa Annual Eaport of
tha Sacratary of tha Traasury for aaounta).
Taluad at $1.38 par ounca.
Taluad at $1.38 ^or ounea or at $1.29 par ounca according to
wfaathar tha bullion la hald for reoolnaga of aubaldlaiy allnr
oolna or for raoolnaga of atandard allvar dallara.
Dally Traasury Statoaaot and Circulation Stataaant of Unltad
Btataa Money.
Prellalnary.
Last than $50,000.
Taluad at $1.29 par ounea.
Includai allrar laaaad to Offlca of Defanae Planta of tha B.7.C.,
Doaa not ineluda
ate. (aaa Dally Iraaaury Stataaant for aaount).
Silver Production in the United States and Silver Acquisition by Mints and Assay Offices-^
(Xn Blllloaa of ouneaa or dollara)
Calandar year
or BOBth
SllTar
production iB
Ualtad Stataa
$llTar acquired by Dlnta and aaaay offleaa
Vevly alnad doaaatle
allrar 2/
Toralgn allrar ^J
OuBcaa
OuBcaa
19110
igiti
71.3
51.7
63.9
68.3
71.1
70.6
61.6
60.7
68.3
70.5
19142
55.9
U7.9
5.5
1937
1938
1939
19'*3
ltO.8
I9itit
35.7
29.3
191*5
191*6
21.11
•
.9
it.9it/
5lt.6
21*1.5
108.
355."*
llO.l
I18.5
282.8
50.1
72.6
156.9
120.5
50.9
27.1
3lt.o
IU.3
6.0
3.9
•
•
•
.6
.9
.6
2.7
2.7
1.9
2.I1
Jul7
1.9
3«
Acquired at 6I1.6U cante per flna ounce until iprll 9. 1935; at
71.11 centa per fine ounce froa that date until April 23. 1935; at
139.
k.kk/
2.7
3-9
2.7
2/
31*3.3
Uo.O
iprll
May
June
1/
163.3
199.1
160.6
62.1
5.5
fabruary.
March
•
312.2
U17.I
99."*
2.1*
Annual flguraa coat from th« Bureau of th« Mint; onthlj figurofl
oa U. S. ailTttr production cone from r«la*a«a of tb« Aaarlcan
Borvau of (total Statlitlct and vllX not a«r«e with tha annual
flcuraa.
Last than ^,000 ounce* or 130,000.
Ibr Inforsation on tllTar production In othor countrlaa froa 1933
through 19I1O or 19UI, ••• "Treaaury Bulletin* for Au^uat 19^3,
Dollara
OuBcaa
208.0
IU3.I
2.7
l.g
2.0
cai
Oollara
1*2.
2.5
3-7
3-3
19l*7-Januai7.
Total
".9
77.2
3.9
l*.l*
3!/
2.7
1.8
2.0
2.U
1.6
1.8
2.7
2.7
1.9
2.1*
1.8
3.'*
3.8
3.t
1.6
1.8
2.l(
^
U/
U/
2.U
1.8
77*57 canta per fine ounce froa J^>ril 23. I933 to Deooaher 31. 1937;
at 64. 6U canta per fine ounce froa December 3^* ^937 to July 1,
1939: *t 71.11 oenta per fine ounce from July 1. 1939 to July 2,
1946; and at 90.5 centa per fine ounce linea July 2. I9U6.
Acquired at rarloua prlcaa areracinic ^^prozlaately 3I cent* per
ounce.
Xncludaa 0.3 illlon ouncea ralued at 71-*11 centa per fine ounce
totalling $0.3 allllon, and U.U illlon ouncea raload at 9O.3 centa
per fine ounce totalling $h.Q allllon*
2
1
8
.
Treasury Bulletin
60
Seigniorage on Sliver
(CuimilatiTe froa January 1. 1935 - In mllllonfl of dollara)
Sourcaa of seigniorage on ellrer bullion reralued If
of calandar
yaar or month
fizid
Salgnlorage
on coins
(tllver and
minor)
Mlic. allTor
(Inel. allTer
bullion held
June ik, 1931*)
Bavly mined
Savljr mined
•llTer (let
allTer {Proc.
July 6. 1939
Dec. 21. 1933) and
July siiigitfi)
5gO.U
58U.3
58U.3
58U.3
701.6
832.1
3U.7
3U.7
3U.7
3U.7
3U.7
3U.7
799.7
818.9
820.6
820.7
938.1
1,069.6
,0g9.0
,0Ug.2
832.1
832.1
832.1
3U.7
3U.7
5U.7
1,070.2
1,070.9
1,071.U
161.7
160.9
159.1
70. M
832.1
g32.1
g32.1
3U.7
3U.7
3U.7
1,071.9
1.072.6
1,073.5
159.8
157.U
153.0
70.9
71.9
832.1
832.1
3U.7
3U.7
l,07U.0
1,075.0
156.1
156
1»«.7
l^
'*29.5
••91.9
U8.7
'W.7
Ug.7
U«.7
>W.7
U8.7
87.6
87.6
87.6
87.6
g7.6
g7.6
Ug.3
63.6
65.3
19*! .........
182.1
2^5.7
299.6
362.3
Ug.7
Ug.7
Ug.7
87.6
87.6
87.6
67.
U8.7
Ug.7
Ug.7
87.6
g7.6
g7.6
6g.g
69.5
508.
509.5
510.0
Ug.7
Ug.7
g7.6
37.6
13>iZ
19i»5
191+7-jaaiuary
''93.9
.
February.
Naroh
"98.2
i^jrll
502.2
506.0
May
June
July
August
Source!
1/
.
.
.
16. g
Dally Treasury Statement.
These Items represent the difference between the cost value and
the monetary value of ellver bullion revalued and held to secure
U.2
25.7
65.5
65.5
66.5
67.8
6g.3
2/
Total
seigniorage
on ellTer
revalued
326.2
U22.1
508.1
616.0
705.6
759.U
36.0
5g.o
7U.9
87.3
g7.6
Win
(Proc. of
Aug. 9.193'»)
3U.5
3U.7
3U.7
3U.7
3U.7
3U.7
'8.7
Ug.7
'W.7
Ug.7
U8.7
19'tO
193't
Nationalized
Oliver
226.2
302.7
366.7
U57.7
530.7
562.7
18.5
U6.1
63.7
69.5
91.7
132.2
1935
1936
1937
1938
1939
SllTer Purchase Act
of June 19,
Potential
seigniorage on
silver bullion
at cost In
General Pund 2/
27U.9
758.8
950.6
1.055.8
967.3
717.3
333.2
161.
lltl.2
silver certificates.
The figures In this column are not cumulative; as the amount of
bolllon held changes, the potential seigniorage thereon changes.
61
October 1947
Money In Circulation
(In Blllloni of dollara)
Paper monmj
Ind of flical
7«ar or Bontfa
Totsl
oona/ In
circulation 1/
Total
p^ar
ontj
Sold
eortlfIcatos
2/
Treasury
not*!
of 1890
8llT*r
c«rtlfIcatet
y
r*dtral
UnlUd
Statei
BOt««
Tedtral
Eeierr*
not«s
9.310
13.71*7
581*
18.750
22.867
23.973
23.999
597
132
126
67
63
59
1.582
1,711*
I.75I*
300
317
6.68!*
I6.lt92
57
1.61*9
22,^4
21. 1138
51*
191*6
26.7't6
28,2ll5
25.5111
26,91*5
52
50
19''7
28.297
26.9'>2
1*8
1.588
1,651
2.025
2,061
322
322
323
317
320
19U7-Janaar7.
fabruarj.
Ikrch
28,262
26,925
26.966
26,886
1*9
1,916
308
2l*,lll*
1*9
1.95't
311*
21*.
1*8
1,991*
311*
28,llU
28,261
28.297
26,763
26.910
1*8
318
2fr.9't2
1*8
2,022
2.070
2.
2,061
2e,i>t9
26,792
27,073
1*8
2,033
2.051
I9ltf
8.932
11.600
I9't3
17,1(21
191A
i9^i
19110
19U1
28.30l»
28,230
i|>rll
Itay
JttB*
J«lT
Angaat p
Ind of flacal
jraar or
aonth
Total
coin
191*1
527
558
599
680
191*2
783
193*
1959
191*0
191*3
I9I1I*
191*5
I9I16
191*7
19l*7-Januai7.
"ta7
JUB*
J11I7
in^ut
Source:
p
1/
p.
1*8
Standard
allTar
dollara
8takaldla>7
allrar
U.IXU
5.163
111*
1*06
106
116
U2U
23.999
1*21
110
109
108
23.853
23.953
23.999
UlU
320
317
23,887
1*00
319
a>*,i52
397
Minor
coin
3>*2
11*6
21
361
155
1*6
381*
U
50U
610
700
929
1.066
1.205
1.300
1.355
11*8
788
8U3
876
1.337
11*7
86U
ll*7
861*
1U7
11*0
120
^1*
321
ek
103
125
108
107
106
1*10
1*06
106
106
Monaj In
circulation
par capita
(In dollara)
»l*9.77
53
81*
59.1*6
194
213
72.16
91-95
236
263
292
317
331
127.63
162.98
191.56
200.00
196.((
197-80
197-76
196-92
«69
327
327
328
1.351
1.351
1.355
11*7
873
331
195-79
11*8
871*
876
330
331
196. U9
11*8
1,356
IU9
150
875
881
332
377
195-50
197.69
Tabniary.
Naroh
tftll
1.230
78
72
y
217
186
165
150
139
21*8
7,2l»«
DOt««
30
26
22
20
19
U,lil»
262
266
5.93'»
6,>t88
Buk
y
1.U511
6.U61
7.0U7
7,eu«
9,612
12,383
1938
1959
Istlonal
bank
notaa
Aasflrr*
l.W<
(l) Circulation Statement of United States Money; and (2) Acraial
Beport of the Sacretaiy of the Treasury for 191*6, pa^a 623-627.
Preliminary.
Kicludee (l) money held by the Treasury, (2) mon6y held by or for
the account of the Federal Eeserve Banks and their agents, and
C3) coin estimated to be held outside the continental limits of
Includes paper currency held outside the
the United States.
I9«.e6
continental llmtB of the %lted States.
Oold certificates were withdrawn from circolation In 1933*
Treasury notes of 1890 in circulation are being canceled and
retired upon receipt ty the Treasury.
federal Heserve Bank notes and National 'bank notes are covered
ty deposits of lawful money and are In prooees of retirement.
62
CAPITAL
AND
Treasury Bulletin
MOVEMENTS BETWEEN THE UNITED STATES
FOREIGN COUNTRIES AND NET POSITION
IN FOREIGN CURRENCIES
63
October 1947
Capital Movements Between the United States and Foreign Countries
This ohapter on Capital MoTsmenta between the
United States and Foreign Countries and Position In
Foreign Currencies Is divided Into four main groups.
Section I of Capital MoTeaante, the Hlatorloal Suooary,
contains
data
cipal types
of
down
Into
Its
and
foreign ourrenoies
In
of United States
outstanding foreign exchange
purchases and sales of foreign exchange,
brokers,
contracts, and
their
both spot and forward.
regarding capital movements b; the prindata, and by years from 1935i and cur-
rently by months.
position
net
banks
These data are based on I'eports filed each month
by banks, bankers, and brokers throughout the United
States. The reports are collected, checked, and tabu-
Each type of data Is then broken
chief components In the same chrono-
logical detail.
lated by
are then
the twelve Federal Reserve Banks.
The totals
forwarded to the Treasury Department for consolidation and publication.
Seetlon II supplies a geographic breakdown by
oountrles on a monthly basis. The total
capital movements are given first and then the prin-
principal
cipal
at
categories
this
point,
are
shown
separately.
the
total
outstanding claims on
Figures
for
previous periods may be obtained from
the following sources:
In addition,
and
Supplement to the "Treasury Bulletin" on "Capital
Movements between the United States and Foreign
Countries, January l^kZ through April 1945", for
details during that period.
liabilities to foreign countries are each presented.
Details with respeot to capital movements and
short-term claims and liabilities are presented In Section III as of the latest month for which the data are
'Treasury Bulletin",
November 19't5, for oapital
movements, and position In foreign currencies by
months, l9'^^-l9'^5.
available.
"Treasury Bulletins", March iglJS and earlier, for
details covering years back to January 2, 1935.
The last group contains monthly data regarding the
Section
I
-
Historical Summary
Table 1.- Net Capital Movement
(In thousaadt of doXIara; negatlr* figures Indlcat* a n«t outflow of coital from the United State*)
inaljrele of net cipltal noTanent In:
Calendar year
or Bonth
let capital
noveaent
Short- tera
banking funds
(Jan.
2,
(Jan.
2.
(D»c. 31.
(Dec. 30,
(Dec. 29,
19'I0 (Jan.
U,
1935
1936
1937
1938
1939
1935-Jan.
1, 1936).
1936-Dec. 30. 1936).
1936->c. 29. 1937)1937-Dec. 28, 1938).
1938-Jaa.
3, igUo).
19!|0->c. 31, I9U0).
992.829
1,226,722
833.715
1128, ll|2
287. 3911
6.039
6.811
3U,687
Transactions
in donestlc
securities
316.660
600.693
2Ult,626
1112,956
328,968
31*
57.196
1.198.735
695,080
1.135.1183
32,990
20,358
-85.1*27
-2 1*5. 062
-1*53.823
626, 121
-21(3,522
-1*9
-261,955
3.513
13.372
8.529
1*6.599
l,07lt,375
-793.32't
583.373
1.168.058
1U8, 59U
1,216.303
-733.909
9.661
27.767
210.735
-113.105
-3 31*. 203
l,lt68,759
1,389,338
2.703
-66,066
9,i»78,2l*9
7,51*2,679
156,1*1*2
398,1*58
iuguat
Sapteabar
157.952
-152,022
-9U,liU
21*5. 779
-160. 4l6
-112.735
-UlA
5.836
3.65«
October
loveaber
Deceaber
30,168
-9.83?
-260. 89U
-28,366
-276,387
I9U1
19142
1,286,893
1*61. 35U
19't3
19'tit
19't5
19>K,
19U7
1,U1|0,686
Brokerage
balances
(Jan.
Total (Jan.
l-»la7 31,
2,
19'<6-July
I9U7)
1935-H^
31, iglt?)
,
19't7- January
Ibbruar/
March
i^irll
37,sU0
-28,953
1,979,1*06
-2l*8,U93
3'».79« r
Bavlead.
17.791*
7.1*70
1,882,57"»
-223, 190
-263,263
»<V
8U1.628
-35.702 r
-278,920
7,069
-5,17'*
Transactions
la foreign
seeurltlee
r
Treasury Balletin
6h
Capital Movements:
Section
I
-
Historical Smmary
Table 2.- Short-Tern Clalas on and Liabilities to Foreigners
CPoeltlon at end of period In thotieanda of dollarfl)
Short-term claims
Payable
Snd of calendAT
year or mo&th
1935
1936
1937
1938
1939
19U0
(l>«o.
{Dec.
(Dec.
(Dec.
(Jan.
(Deo.
Total
In
foreign
1935)
1936)
1937)
1938)
778.57?
672. 61U
65U,9?o
128,951
lllO,?U
626.0112
3.
19fco)
I9U0)
508,702
383.978
150,
66,7115
31,
31.
30,
29,
28.
117,068
118,633
202,085
3,678,518
OW
1I13.709
1*.
137,1611
OW
329.6911
511.
19't5
392.766
708,253
U7.li«9
98,119
86,378
105, U21
100, 267
319.639
56l,ltl6
581,1150
615,658
108,706
108,093
106, 196
602,716
6U2,6oo
708,253
103,518
96,977
98,119
730,693
93,1178
February
March
7511,576
798,1132
April
801,836
880,205
August
September
October
November
December
igltT-January
•taj
30.916
311.387
603
72,
Other
of
1188.365
1131*,
977
169.670
1,301, llt2
1,623,317
1,893,087
2.203.185
3,221,328
3.938,232
205, 389
5.3711,903
Payable
in
Deposits
foreigners
1*7,1177
367.786
2U6.673
257.929
19U6-J\ily
Total
385,636
310, U77
268,719
221,383
19U1
19U2
19U3
I9IA
igW
Payable In dollars
Loans to
foreign
banks
161,263
96,726
116,917
165,521
173.238
115,118
152,1137
Short-term liabilities
Payable In dollars
foreign
currencies
1,156,1*96
1,1*56,885
1*6,795
66,1*78
97.851
1,600,507
1,985,025
3,025,189
3.786,182
209,597
lilt, 791
135.311
121,001
82.983
103.369
60.828
2,712,626
31.01*9
3,551*, 251*
3,352,223
3,523,328
19.677
13.893
17,911
3,310,732
3,958.716
693, 911
1,7115,722
21,61*1
25,5116
110,629
5,267,081
lt,9i*6,62li
306,618
668,168
1,222,550
1,218,633
1,910,898
6,3116,765
6,186,31*9
6,073,611*
k, Ijk, 1*12
11,356,501
99.951*
2I15.OIO
5,596,775
6,883,068
290. I195
6,ltSO,262
236,539
231.730
275,991
216. 171
5,0110,2119
1,81*2,517
25,1*15
233.1*71
6,908,181
6.767.799
6.689,272
U, 9119. 7115
ll.7911.6110
1,790,877
1,867,115
27.177
27.517
272.156
227. 0U2
6,679,1178
11,9116.961
2911,6911
250,929
290, 495
6,690,996
11.8U3.776
11.693,911
32ll,002
360,719
388,555
6.1*73,699
8,1*76,988
u. 710.
78.720
72,102
313,213
315,137
337,775
8,272,351
116,9113
2ltO,850
lt¥t,oli3
«,2U2,053l
128,97't
2711,650
1176,581
8,01*1,502
319,639
2U1.627
6,1180,262
Het
short-term
liabilities
1»,
522.563
950,703
1.238.097
1.577,11*3
5.116,971*
6,1*90,302
5,772,009
1,702,781
1,815,968
29.736
31.252
1.71*5.722
110,629
5.772,009
39,601
36,605
5.71*3.006
7.722,1»12
ll,81tl*,6l8
1.723,106
3,581 ,lto6
3,391,699
36.0311
7,1*73,919
li,973,ll»«i
3,232,1169
36.1136
7,l*li0,217r
U, 71*1, 282
3,270,826
29,391*
7,161,297
992
.858.977
6,076,762
6.0l*«,396
BeTlsed.
Table 3.- Net Novenmt of Short-Term Banking Funds
(In thousands of dollars; negative figures Indicate a net outflow of capital from the United States)
Short-term liabilities
Short-term clalme
Fayeb le
In
foreign
currencies
Calendar year
or month
1935
1936
1937
1938
1939
(Jan.
2,
(Jan.
2,
(Dec. 31.
1935-Jan.
1, 1936)..
1936-Dec. 30, 1936)..
1936-Dec. 29, 1937)..
(Dec 30, 1937-Dec. 28. 1938)..
(Dec. 29. 1938-Jan.
3, 191*0)..
361,360
228,132
70, U9
17,621*
28,9ll8
-ll*,7S8
191*0
(Jan.
12l*,72l*
1*.
19110-Dec.
31.
191*0)..
191*1
191*2
191*3
igiA
,
191*5
,
19116
I9U7
(Jan.
1-May 31,
total
(Jan.
2, 1935-tUy 31,
191*7)
I9l*7)
19U6-Jaly
August
September
October
November
December
19U7-January
February
March
April
HV
,
,
117,3110
16, 192
97,503
-11,256
-71,765
-63,072
19,268
1I09
15.933
loans to
foreign
banks
-3.552
31,868
-20,191
-l|«,60l*
631.I169
53.039
358,023
269,770
300,020
119.31*1
75.159
Ul,758
58,120
-3,515
20,671
19,298
60,899
in
of
foreign
currenclee
1,018,11*3
716,901*
-259,711*
1*85,870
1,179,3111
6.333
19,683
37.802
992, 829
1*.933
1*28, 11*2
lU3,U9
287,391*
37l*,l*ll0
-9l*,806
-16.971
20.386
1, olio, 161*
20,520
-1*2,51*1
1,135,1*83
760,993
-11*. 310
185,617
385,365
31*1,628
-21*3,522
220,359
1,279.375
220,576
583.205
-219.372
-32, 506
-75,31*0
-1^,1*85
-1*18,1*22
-268.S5I1
-l6l*,65l
|l*,9S9
-186,086
1,561,290
7,111*
5.1511
-315,1*87
-50, 630
-171,952
-30,855
200,278
225,062
-175,522
117,336
6,51*5
Het
ehort-term
liabilities
587,331*
333,1107
11*3,622
-29.779
-11.372
-5.102
4,018
3.730
3.905
15.083
-111,330
-19.0113
-3.1*71
136, 780
Payable
Deposits
forelgnere
-7,717
-20,216
-1*33,959
105,607
620,881*
554.1*12
-3.91*7
692.265
328.968
583,373
1,168,058
lli«,59l*
1,216,303
-733,909
1*7, 1*21
1,525,101*
-11,235
1,389,338
150,738
l*,Ul*,8ltO
3,25'*,70i»
-27,113
7,51*2,679
2,1*56
22,
1.61*0
-51.
-3.699
1.762
-160,1*16
2I15.779
-50,392
-50,2116
-8,303
8,157
296,171
277.lilli
-20,031*
-31*, 208
613
1,897
1*,809
-25,1*56
-11*0,382
-90,501*
261
8,156
-78,527
-155,105
76,238
3I1O
-112,735
12,91*2
2,678
6,1*29
-5.1172
U8
-39,88U
-65,653
6,51*1
3.835
-22, 538
11,518
-103,185
-1,11*2
-2l»,9l*5
-23,887
-39,566
-163,809
113.187
-210,7311
-11*9,865
-70,21*6
2.219
1,516
9,377
-28.366
-276.387
U.6UI
111, 758
6,618
6,U26
-33, 507
17,131
-1,921*
-36,717
-27,336
-6,513
2,003,289
359
-22,616
1,858,300
-189.707
-1,028
-2,996
-571
128, 530
-231,866
-159,230
38.357
-7,01*2
-22,lll|0
-23,883
,
-11.526
2.393
83.299
Payable in dollars
Payable in dollars
-1*3.856
-3, Moll
-78,369
-1*1*,
-22,638
8l*l
96,925
-55,1*88
-12,031
-33,«»
-32,55«
.1*1*
,
-201*, 637
-30,29«r
-200,551
156,
11*7,985
-11*.
U02
7.I170
-28,953
1,979,1106
-248,493
-33, 702 r
-278,920
65
October 1947
Capital Movements:
Section
I
-
Historical Sumary
Table 4.- Purchases and Sales of Long-Term Dooestlc Securities by Foreigners
(Ib thoutwida of dollftra)
Dooaatle atoeka
Calendar /ear
or BODth
1935
1936
1937
1938
19J9
19W
(Jan.
{Jan.
2.
(I)»c.
31.
30,
29,
(Dae.
(Dae.
(Jan.
1935-JaB.
1, 1936)1936-Dao. 30, 1936)19J^Dac. 29. 1937)1937-Dao. 28, 1938).
1938-Jan.
3, I9li0).
igio-Dae. 31, igto).
2.
B.a
B.«.
19Ui
11(6.039
I9li2
96.383
151.639
136,853
260,223
368,558
75,1«8
19^,616
191*
iSltS
19"t6
19't7
l-«v
('•«.
31, i9>*l)
1SK-»V
}l,
Vat doBMatlc
atoeka and
bonda
986,021*
316,660
2,083,698
2,028,755
600, 693
2l*i*.626
221,816
278,032
-56,216
506,022
-222, 519
1711,952
582.91*6
2ll*.002
-1*2.977
21*1.299
170,555
70,7l(l(
320.991
260,601
392,938
-261,955
i6i(,a«
211(,388
138,511*
-39.1*36
20,893
365.171
513.558
377.717
zdt.zm
21*5, 3il(
-15,673
klk. 1(70
393.390
68U,213
650,1*11
637.91*0
it39.676
-269,71*3
782,119
1.116.322
27.767
210.735
-113.105
-331*, 203
97,1(1(0
109,129
-11,689
183,961
250,027
-66,066
12,?30,03S
11,831,578
39«.'t5«
ll(8.829
-108,858
-13.987
-13.863
171.1*32
-3't.
357,655
579
367,61*9
1*32,109
-97.1*32
-6U,it60
S6,S21
11(0,898
-5t,3T7
1.200,119
l.03l(,l(78
25, lOk
1,11*2,923
1.119. 90s
751.081*
751.01*5
57,196
-85,1(27
-2l(5,o62
1*6.599
31.959
25.167
-g,l(2l(
16,1*36
9.51*0
116,870
-100,1(31*
701*
231
-It. 691
36.70I*
-1(,628
16,989
26,22U
-9.235
t9!o65
62.928
22,263
20,959
39.832
26,2ll0
-3.977
-6.19>*
70.61(9
30,81*7
8,985
29.932
1.119
55.363
52,968
70, 883
61.557
-5,aw
33.100
32,009
31.051
-2.217
26,223
60, 779
-17.681
lO.loU
29,1*65
-11,01*9
30.651*
19.757
1*9.070
32.71*1
23, 535
Au^uat
Saptaabar
25,871
32.076
Octobar
loTanbar
Oacembar
19U7-JanuU7
total
aalaa
n.a.
n.a.
-188,81*6
19>)7)..
19'*6-July
Total
purobaaaD
1,302,681*
2,68l(,39l
2.273. 381
n.a.
n.a.
n.a.
1*73.052
l9'»3
lat
n.a.
2eU,206
fatal (Jan. 2,
Domaatle bonda
Purchaaaa
21*.
-12.1(17
39.971
1*9.398
rBbruaLZ7
18,ltl6
19.'tH5
im
1(9,222
57.1*39
-2l(,698
It. 367
-13.620
-6,816
211.371*
March
33.065
21.183
10.897
-11,078
988
-18,51(6
30,809
56.171
-25. 362
Iprll
18,1*8
2l*,013
33,172
11,796
is.ziM
7,91*9
15, gits
-5,565
-17,327
19,71*5
»V
38,193
33, It*
35,809
51,3«6
2,38U
-18,23«
n.a.
17,303
31*.
-911
-152
lot aTailabla.
Table 5.- Purchases and Sales of Long-Tera Foreign Securities by Foreigners
(In thouaanda of dollar*)
Toraign atoclca
Calendar year
or Bonth
Balaa
2,
n.a.
2,
n.a.
n.a.
n.a.
n.a.
n.a.
1937
1938
1939
1935-Jan.
1, 1936)
1936-DBc. 30. 1936)
(>c. 31. 1936-Dac. 29. 1937)
(Dae. 30, 1937-Doe. 28, 1938)
(Dec. 29, 1938-Jan.
3, 191*0)
19I1O
(Jan.
1935
1936
(Jan.
(Jan.
1*.
19llO-Dee.
3I,
19llO)
19U1
n.a.
191*2
23,278
26,601
37.328
191*3
I91A
191*5
19I16
19t7
(Jan.
Total (Jan.
l-*ajr 31, 19l»7)
2,
1935-Haj- 31, 19t7)
65.21*7
30,395
17,5*5
l*,ll6
t.732
7.210
it.i*i9
October
VoTeaber
Dacaabar
1*.625
Tebruary
March
April
n.a.
lot available.
896,11*9
3.1*87
i».523
1*1*6,367
-363
262
318,113
755.936
12,810
371,837
-17.1*61
311*,
108. 919
-32U
2,791
70. 891*
2.552
2.217
3.531
2,073
1.767
51*.
5.718
10.271
l*,036
3.290
1.682
6.031
2.138
91.157
5.1*28
•',051*
2.553
1,501
l,t$S
3.981*
5.997
5.056
l«,2llO
3,i(<6
«V
661,256
1,016,168
2.lt66
55.266
537
57.197
52.129
1(82,809
n.a.
n.a.
185,261
220. 533
133.558
227.897
31(7.269
1(90,
265,1*90
1*1(6
71*9,180
1*56.051
1*1*5.
i*69.6!i5
2*1,863
536,098
705,073
561,236
205,289
209
88.973
-29.156
372.158
225.289
total
aalaa
n.a.
n.a.
n.a.
71*.
129.97't
n.a.
l*.8l*5
19l*7-January
Total
purchaaea
Salea
n.a.
n.a.
19.791
22.078
51*. 789
65, 610
Auguat
Septeaber
19li6-July
fbralgn bonde
at
88.173
51*. 025
29.231
20,71(6
30.381
21*. 390
21*.
5U7
127.133
lat foraign
atoeka and
bonda
125.158
191.076
267.008
26.758
115.689
78.156
51.701
-7.36I*
77.696
Wl
391.91*9
21*7.367
1*02.058
93.1*96
-1*6.617
821,183
556,056
265.127
3I10.863
355.
lK>2,232
259, tt*
lte,78H
6,618,085
5,237,'»15
1,380,670
76I*
92.289
59.081
33.650
21.1*75
16,51*5
59.162
61,181
58,126
32.933
26.607
26,229
51.71*0
6,386
26,605
137.368
70.279
-78.335
52.733
113.
16,869
26,035
75.626
62.U76
156
32. 807
28,826
31*. 571*
1*8,209
3.920
1*8.762
22,569
133,128
-sl(,366
96,875
59.033
76.052
25.1*57
50,595
81,1(80
81,1*1(0
23,891*
57,5.1*6
85,1*91*
26,IAT
5»,ol*7
7H,lw6
3<,«15
37,611
79,350
1|«,2«1
39,069
68,588
28.
71*7
.
.
.
.
Treasury Bulletin
66
Capital Movenents:
Section II
-
Summary by Countries
Table 1.- Net Movement of Capital and of Short-Tern Banking Funds
(In thousand* of dollars; nagatlT* figures Indlcato a not outflow of capital froa tha United States)
Short-terv banking funds
Bet capital aoTsaent
Country
January
luropel
United Klngdoa.
France
19'*7
IS"*?
February
Karoh
^ril
May
Juna
January
Tstoruary
March
iprll
May
Wl
-68, $38
Belglta
-15,453
7,267
-l6|loft
15.108
28,277
106,226
-19, "06
-16,528
-1"8,297
-18,1*9
-ll,9"9
22,565
-18,978
6,25"
-29,896
-31,181
-16,3""
-66,11"
1",636
28,835
10", 188
-28,078
-16,6"3
-i"o,6o6
-9,553
-18, on
Senaark,
finlaad.
Darmany.
6,770
-831
-l,«53
-H.SIS
7,602
236
-5.770
J56
1.307
-",687
-3.""3
2,23"
-1.003
-6,352
18,"33
6,708
-831
-1,832
-",798
7,598
851
-5,775
-",669
-3. "8?
2,196
-98"
-6,3"l
18,50J
Oraaea
Italy
-5.798
-979
-it.lllj
-86,5't2
-8,833
-83,070
-139
-86"
-76,"38
1"
-",018
-31,790
-93
-><0,375
Ul
-8,103
-88,966
-169
"83
5,828
^668
"91
55.a«
-3«,93l
-1.376
10,099
I35,08f
-3,87"
-l,9"5
-3",97"
-11,618
-128
-830
1,137
6,028
-3,5M
-3,177
-"83
-5,688
Luxea^urc.
-27,
letherlands.
Verwey
Portugal....
-7,305
-6,2Ul
6,1S<
-23,'»73
tuaania.
Spain*.
Sweden.
32
3,253
-9,093
-62
l,3«3
Svit larland
U.
B,
8.
I
Tu^oslaTla
Othsr lurope
Total Xuropo.
Canada
-5.3^
-881
-9.085
13.291
7,296
-1,911
936
3.613
-5,858
15,501
i."76
658
-13,88"
71,631
-190,007
-93,30"
3,377
-81
5«>»
-12.632
L atin iaeriea i
Argentina. . .
BollTla.
Iraiil
-9,702
-1,1019
733
307
1,328
"35
':2'6
-13
-1",933
-11,080
-1,"83
-33,13"
-1,685
10,075
1"2,999
",912
-2,006
-3,501
-11,358
-«3
3.198
-1,915
-79
1,328
-5,3"3
-787
1,1"8
5,»36
-3,587
-588
-9,091
-9, "18
-8,669
-6,213
8,780
-18
58"
13,"06
S,3"l
-1,980
936
3,675
8,881
67
788
66"
8,188
i;"76
618
-12,725
",06«
-9,563
-8,768
-6,21"
81,056
-17", 160
-70,861
195,339
-820,717
"2,"6lr -110,505
l"8,057
-50,381
3,087
-9,M9
6,5-
11
-3,177
-"07
190,288
-257, 8"8
-33.759r
-80,19't
-88,287
-l,7"9
-78,"58
-3,788
-1.199
-33,«15
37,828
-8,96"
-56,979
27,"«3
-1,936
-53,195
"6,0"8
-1,933
".•93
17.593
1,368
-3", 371
-8.999
-1.237
-36,706
33,7"3
-2,97"
-58,065
26,066
-1,918
-53, "13
86
1,169
1,"19
-«."37
-3.102
-10,58"
-879
-J,101
",690
1,"07
5,117
-721
-8"6
-191
-528
-872
-9,830
-","83
-1,068
9,663
-811
-13,811
-18, 191
261
-3,«"5
-1.0"3
-9,056
-2,3""
-",918
8,566
-75"
-l"."06
-12,288
-883
-15,908
-333
-",383
-1,61s
-5,00"
3,236
-2,675
662
-5,625
-1,720
-3.109
-3.7"l
-1,233
-2,515
-768
-156
-2,170
1,05"
-1,607
-8,002
3,2"<
-6,636
18.155
-2", 180
11,128
-ll,3"8
-2,811
-2,785
-2.276
6,88"
-6,8"9
16,825
119,617
21,li61»
-1.910
5,501
i,iH5
-35,061.
-3.163
-3.206
Chile
Coloahla. ..
Coeta Rica*
-":i?7
1,U51
Cuba
French Vest Indiee and Oulaaa.
Nelieo
-iu.761
-333
-8,375
-2,127
-2.Uii
-5."50
-2,711
-2,033
-1,700
-1,293
-3.765
-1,259
-1,372
267
ii.uzu
-U,1.52
-2,053
-3,321
-1.175
Total Latin iaeriea.
-7,637
-35,1'»3
-"6,867
-19,5«a«
J"6,109
-6,617
-"8, "81
-5",010
-ay,o"«i
-"6,9"7
Asiai
China and Manchuria.
French Inde-China. .
Bong Kong
-23,503
2,169
-",757
-32,588
-6,150
1,"21
-21,775
3,092
-915
-8,5"0
-6"8
587
-"",567
2,0"8
3,008
-83.176
2,169
-",725
-31,962
-6,150
1,"«9
-20,9"2
-9,921
-6"2
208
-"3,910
2,0"8
2,971
-1,192
-8,8"7
595
1,010
-1,700
530
-5,237
-30"
1,035
-",076
-1,719
1,551
-83«
-1.655
-8,8*8
596
1,"65
-1,708
526
-5,281
-297
1,030
-".125
7"1
161
-1,753
l,55«
-836
-6"0
-19.708
-11 ,016
9.139
-","86
-7,886
-7,355
-8,579
-5,053
-9,799
-3,"98
6,109
-5,365
-65"
-15, "58
-","23
-19,703
-10, "03
9,110
-3,003
5.8I6
19.352
-1,201
-5.53"
-",382
-7,826
-7, "87
-8,563
-5,10"
Hetherlands Vest Indiee and
Surinaa
ii,6iai
-5,'»86
Tenesuela
Other Latin iaeriea.
India, Buima. and Ceylon.
British Malaya
J^an
-2".
etherlaads last Indiss.
lf2
-8,0«6
1,198
7,76«
-",8n
-1,070
161
3.102
-9"6
l,"32
7"1
165
267
"7
-5!""0
'-"|"i8
-3,022
",518
20,J15
-1.238
-5,588
-"1,132
-61,238
-6,097
-37,77"
-69,390
-"8,158
-59.918
-".901
-38,952
-68,8"8
",70"
12"
-1,008
106
-""
-1,"36
-7,103
1,125
1,191
1,768
-770
-"35
1,915
-188
1,505
-5,52"
1"7
-1,018
16,586
.UU
-1,503
-19,262
1,125
1,177
-2,6"8
-771
."62
-1,683
-8""
i,"63
French Morocco
Onion of South Africa.
All other
1,06"
35,023
-5.72"
810
-606
8,"93
-181
1,339
-3,916
8,00"
-13,6"3
1,0"8
3",995
-5,855
89"
-52,892
-".8O6
-52,8"6
-",565
-"33
8,"67
-219
-"30
1,319
-2,565
-1,501
2,035
-13, "29
Total other countrie
3".l«3
-58,262
2,919
-2, "20
-9, "00
23,793
-"1,"78
-9,1"5
-5,557
-13,359
1,333
-","53
116,853
1.333
-","53
116,853
-980
-2,97"
",37"
-1.00"
-2,97"
","13
Philippine Islands
Turkey
Other Asia
Total Asia.
Other countries I
Australia
Hew Zealand
Sgypt and Anglo-lfirptian Sudan.
3,"67
International
-",809 2,256,662
Unidentified.
-1,76"
Srand total.
37,8"0 l,8gg,57"« -223,190
r
Sari sod.
",321
-"00
3",79»i -263,263
-",809 2,256,662
-1,766
",320
-88,953 l,979."06i -2"8,"93
-33,708r -278,920
67
October 1947
Capital Movements:
Section
II -
Summary by Countries
Table 2«- Net Movement of Brokerage Balances, and hfet Transactions by Foreigners
In Long-Term Securities (Domestic and Foreign)
(In thousands of dollars; negative fiffares Indicate a net outflow of capital fron the United States or net sales by foreigners)
Brokerage balances
Country
January
Europe
United Kingdom
Prance
Pebruary
March
19U7
May
April
:
12
Bel^un
-395
-2Ul
Denmirk
Finland
Germany
-1*0
29
-2
-2
Greece
Italy
lAucembourg
Netherlands
Norway
Portugal
585
-181
13
-2, 161
klk
-151
166
108
61
-2
-15
-52
5
-15
30
2
12
-72
-2
83
-95
26
-k
-112
-216
-229
-2,390
-13U
12
-18
1
11
^9
1,385
-lib
11
ni
32
3
1*9
35
-32
-Ui
-12
1S2
-75
31*8
l,6iU
Yugoslavia
Other Europe
3
-to
140
-110
18
5"*
-106
Total Btirope
-1,192
-1,79s
1,011
2,638
571
-393
-1,719
1,223
7
-2
-159
2,169
,366
-1
l!»
-175
513
1,355
-3
277
-63
277
-131
8U
lUs
-192
-31*5
258
fiumanla
Spain
Swe den
Switzerland
S.
U.
S.
-i
6itO
H
Canada
Latin America
Argentina
Bolivia
Brazil
:
Chile
Colombia
Costa Rica
Cuba
French Vest Indies and Oulana.
Mexi CO
U2
1,00S
1
-U,079
-32
369
-1
6,570
-lUo
1
5
-163
1*92
23
-71
30
261
Netherlands West Indies and
111
-13U
-Ik
1,055
-20
Veneruela
Other Latin America
-237
79
-377
-799
515
825
-l6
Total Latin America
-3,111
7,61A
-1,639
3,210
Surln:Tm
Panama
Peru
23
Asia:
China and Manchuria
French Indo-Chlna
Hoag Kong
India, Burma, and Ceylon
British Malaya
Japan
Netherlands East Indies
Philippine Islands
Turkey
Other Asia
Total Asia
-228
-57t
2,319
-29
-7
31
-1*7
-3
36
-t3
56
1
-10
-1
826
1
-lit
53
-7
-718
-3
-H2
-82
293
l,5lt«
-U5
-21
59
-1(6
1
3
-15
-3
7
-206
kgk
12lt
Other countries!
Australia
New Zealand
E^rpt and Anglo-Egyptian Sudan
-1
French Morocco
Uni on of South Africa
83
-1*
-182
-1,533
-79
832
-38
-1,600
-3,325
6,201
-2, 068
2k
Unidentified.
Grand total
1
29
803
All other
Total other countries
Transactions by foreigners In long-term securities
I9U7
January
February
March
Aprl
May
.
Treasury Bulletin
68
Capital Movements:
Section II
-
Suomary by Countries
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month In thousands of dollars)
Llahllltles
Clains
I9U7
I9I17
Country
Jamiazy
Suropg
United Kingdom
France
Belgium
?ehruar7
March
April
Jajnuuy
Ksf
Tehnuoy
March
April
May
J-OZLO
i
Denmark
rinland
Oermasy
Qreece
Italy
luxembouTg
50,533
9,896
7,075
39,356
12,988
7,373
35,770
15,639
8,019
1*2,1*25
39,596
1*81*
J5U
1*1*3,281
21,125
8,863
18,
209,082
8,885
237,173
165,3^9
580
6,1*9
373
6,126
31*5
321*
378
73,307
30,353
8,255
30,357
7,106
30.371
9,097
30,383
21,61lO
30,31*8
68,302
28.909
5.531
i»3,729
12,368
1U,878
Ms
NetherlandB
Horway
Portugal
Ruoanla
Spain
Sweden
22,1*17
21,522
51,038
5,180
1,01c
39,25H
5,913
1,212
212,201
1*5,1*15
1*1*,«)1
5l*,192
52,151
206.328
100,595
52,270
6,871*
3,71*2
6,992
8,929
19,785
8,851
19,957
12 210
7,110
7;wo
l6l*,237
159. 061*
165,221
11,313
18,135
157, ?89
17,503
152,207
8,291
9,1*91*
8
12,91*8
112
58,U79
13,885
107,762
392,161*
u
377,217
60,395
381*.
13
7
22,01*1
155,768
i*,ol*3
i*,21i*
929
1,01*5
kl
38
l*,18l*
7,33'*
6,17s
5,630
3,833
5,951
11,376
10
7
13,151*
22,933
331,792
251,327
319,807
Latin America
Argentina
BollTia
Brazil
39,692
56.939
12,980
23,832
65
9,52^
Canada
6,857
150,930
52
307,290
R
57,809
26,767
9,067
12,822
Total Europe
S.
62,1*99
3l,3i»5
31*0,989
197,91*3
53
Tugoslavla
Other Europe
S.
209,777
162,985
13,213
20,599
12,305
19
u
10,226
U.
1*8U,1*2U
226*363
178, 78U
51
153,683
11,651
15
5.275
11*9,303
12,530
17,702
136,558
3,669
360
5,&6o
Switzerland
SW
218,1*87
22,&68
22,905
39,792
225,708
22,218
117,1*36
393
106,790
183,31*
105,336
221,
111,211*
320,991*
22,1*51
211*,
,
18,751*
6n
58.537
ll* 670
397,201
60,016
15,288
111,351*
37,717
20l»,U29
22.218
8,251*
1*02,1*72
50,
Wt
108,1*08
12.527
105.557
130
2.1*96,220 2,331*, 577 2,276,301 2,391,175
2^63,261
577,577
252,038
10,272
96,718
26,296
21*1*,
1*3,027
2l*7,1S0
103,385
,
1*6,750
U3,021
39,033
36,1*33
36,829
855,920
892,6S2i
778,159»
627,502
1*9,062
1*5,1*79
1*9,929
57,8a
2,573
63,109
2,963
69,583
1*,818
60,7't6
5,29'»
165,951
12,355
223,01*7
11,711*
115,360
150,208
183,1*19
179,961
13,680
157,803
181,1*12
616
18,578
30.398
3,375
20,297
36,390
3,587
1*6,180
1*5,191
50,962
55.903
7,31*6
9,01*2
51,028
51,862
8.539
60,091
83
753
11*7,306
ll*5,908
l*,87l»
11*9,333
3,931*
11*2,058
1,01*1*
13,590
78,196
36,987
51,51*9
183.791
!
2,
51*, 351*
Chile
13,11*7
Colom'bla
29,9*
12,833
127,571
115,283
1*5,325
15,259
30,155
3,696
15,979
26,835
37,910
116
1*5,165
53,829
13
11
9
26,973
28,751*
30,66s
33,662
922
1,603
5,t36
809
1,680
6,531
819
2,208
6,989
1,082
2,201
7,81*3
Venezuela
Other Latin America
10,386
27,128
15,638
27,902
19,563
15,1*19
33, 89^*
37,285
19,160
36,685
Total Latin Aoierlca
26o,l*lU
279,611
308,61*5
381,680
1*37,981
1*3,758
67
1*,96U
36,801
1*1,21*2
1*6,989
339,056
32l*,288
1*,029
39,056
38,919
1*0,1*59
U,llt5
35,951*
1*0,781
38,1*11
5,061
398,650
1*2 IU6
39,233
31*3,230
22
76,131
22
3,503
359,731
25
39,011
1*1, 1*56
12,665
518
12,908
537
2U5
li»,638
13,203
1,057
1*2,513
1*4,221
7,081*
1*0,670
Coata fllca
3,1*07
Outa
Trench Vest Indies and Oulana.
Mexico
35, '•63
Netherlands Vest Indies and
Surinam
Panama
Peru
i»,039
31*,
2,091
7,552
150,819
3,990
56' 248
57,817
9,309
8,1*53
16s, 01*9
162,023
3,575
128,780
139,051*
3,231*
127,6142
11,757
10,531*
10,61*1
75,161*
3U,3l*l
73.177
31*, 031
71,000
35,939
38,89>«
1*5,1*59
1*6,659
1*9,399
1*6,291
182,351*
186,070
186,6251
202,850
1,131,839 1,102,555 1,077.579 l,12y66r 1,130.920
Asia:
China and Manchuria
iVench Indo-Chlna
Hong Kong
India, Burma, and Cejrlon
British Malaya. ,
,
2l*7
Japan
Nether lande last Indies
Philippine Islands
Turkey
Other Asia
Total Asia
Other countrleai
Australia
Hew Zealand
Egypt and Anglo-E^yptlan Sudan
Itench Morocco
Union of South Africa
All other
Total other countries
973
2U2
11*,
193
1,291
r
larlied.
7,223
18,716
36,100
8,282
18,886
33,357
9,606
17,689
18,01*9
1,051*
91*8
1,1*01
1,911
1,1*75
117,387
116,627
122,896
103,703
25,28U
22,983
1*30,1*91*
1*1*7,131*
1*38,862
1*32,191*
6o,83i*
56,1*98
*5,83l
l*,0l*2
U,5iU
23,161
2,683
5,790
1*1*8,253
1,1*96
20,271
2,030
3,916
22,i*02
i,'t09
U,i*95
88,536
85,080
79,1*20
65,36U
75,636
57,031
71,808
91*, 1*61
85,01*6
88,883
98,051
127.271
'*,295
6,203
1,308
6,510
1,517
7,1*55
1*38
1*82
1,312
378
6,610
1,600
39«
10,1*60
1U,66U
89
15,976
102
18,303
3,1*31*
U,i*65
5.21*3
27,091
29,817
1,160
U13
13
19,775
2,1*53
1,263,1*92 1,19**, 159 1,193.095 1,163,311 1,123,689
1*0,873
8,207
19,81*1
in
59,367
8,311
18,363
1*0,1*12
38,709
8,669
19,018
36,
19 581*
16,1*98
1*3,682
16,081
U7,328
1^.887
70,797
69,1101*
55,195
200,618
199,209
185,1*71
I109
15,961
82,51*5
6,1*15
18.936
5,635
73,772
16,855
33,903
70,238
33,965
33,5«S
21*1,199
207,037
9,6^5
,
8.713
20.1*99
'•9,996
1*68,912 2,725,57** 2,726.907 2,722,1*51* 2,839,307
Unidentified.
Grand total
8,773
17,165
95,1*1*1
International
I
8,996
68,888
730,693
75", 576
262
380
liog
16.117
798,1*32
801 836
880,20;
6,1*73,699
,
20.U3I*
19,692
16,836
21,277
«,l*76,58*V7e,351r Vltf,053» 8,01*1,502
October 1947
69
Capital Movements:
Section
II
-
Summary by Countries
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
^Poiltloa at end of nonth
i.n
thouaandt of dolLarg)
Debit balaneei (due from forslsneri)
Country
January
lurope :
United Klngdoa
Trance
Bel^m
1,135
221
129
Denaark
Finland
Oeraany
2
18
Oreeoe
Italy
Luxeabourg
Credit balance* (duo to foreigner*)
19U7
19'*7
February
March
i^rll
May
1,073
197
59
2,UUl
,028
305
18>1
66
llU
1
11
June
1,58U
191
97
January
"1,329
6,391
1,850
91
1
3
1
23
1
lU
19
15
15
2
2
2
3
3
11
5't
2
U2
2711
106
237
11
122
11
231
S77
13
11,093
1,535
29
11
2
1
2811
973
Vetherlande
105
238
Hortfay
Portugal
22U
8
296
10
10
72
9
75
68
2
67
59
Uh
156
569
SHltterlaad
D. ». S. H
TofoalaTla
Other lorope
B2k
1,252
1,'^3
1,191
1,270
35,167
Total Xurope
2,7fe3
3,010
1»,819
3,077
3,818
6U,U82
1,527
5,3'»''
lt,5l»o
'•,586
'1,370
7,2"*5
1,175
1,161
1,608
l,03U
997
l,65'»
1,821
1,555
1,221
979
6,102
29
983
7'«3
2lt«
877
223
2
861
2Ul
3"
3''
63
811
227
65
Buaaala
Spain
Sweden
Canada*
20
50
1,630
2
•
Latin iaerlcal
Arseatlna.
BollTla
Bratll
Chile
Coloabia
Coata Blca
51
Cuba
French West Indies and Guiana.
Mexico
U83
3"^5
113
6,179
6,200
6,358
5,188
2.2U2
2,637
3,006
2,U85
5,819
30
2,159
6,118
to
9
116
k
106
87
29
181
88
5
53
93
238
6,870
239
Veneiuela
Other Latin Aaerl >;a
2, '39
l,8lll
1,797
U,0'»2
1,877
U,h72
"1,573
3, 1*97
2,08U
1,6U3
Total Latin America
17,999
I9,5to
20,651
17,833
16,532
26,392
3,to2
3,509
u.ioi
2,530
1,567
1,628
76
30
29
J°
30
l,l"i'i
1
letherlands Wast Indies and
Surl oaa
Panama
Peru
81
UU.:
China and Manchuria
French Indo-Chloa
Hong Kong
India, Burma, and Ceylon
151
33
Britlah Malaya
Japan
3
36
Netherlands East Indies
Philippine Islands
Turkey
Other Aeia
Total Asia
27
6
52
5
10
2,617
1,655
3,165
6
U
28
100
1
6
7
5
23
8
133
6
U,32:
U,501
Other countriee
Australia
Vev Zealand
Igypt and Anglo-Xgyptlan 3\idan
U9
1,087
b
223
955
"1,189
:
French Morocco
Union of South Africa
All other
78
62
18
11
Total other countries
152
31
"•3
59
3g,5't7
311,230
28,156
26,U3ii
80
39
1,528
Unidentified.
arand total
29.705
1,886
February
March
April
May
June
Treasury Bulletin
70
Capital Movements:
Section III
-
Details for Month of May 1047
Table 1.- Oiort-Tera Claims on Foreigners
(Ib thottBajidB of dollari)
Oountrj
October 1947
71
Capital MovementB:
Section III
-
Details for Month of May 1947
Table 2.- Short-Term Liabllitiee to Foreigners
(Position at end of nonth In thoueanda of dollars)
Coiintry
llaMlltles
Europe:
United Ungdon
Trsjice
31*0,989
I97,9'i3
Belgium
150,930
Denmark
Ilnland
Germany
56,939
22,Ul7
SI, 522
Greece
Italy
Luxembourg
204,1129
Netherlands
Horvay
Portugal
206,328
100,595
52,270
Bunania
Spain
Sweden
17,503
152,207
37,717
22,218
8,251*
Swltserland
U. S. S.
B
1*02,1*72
50,1*1*1*
TugoslaTla
Other lorope
12,527
105,557
Total Ilurope
2,163,261
Canada
577,577
Latin iaerica:
Argentina
BollTla
Brazil
252,038
10,272
96,718
Chile
Colombia
Costa Bica
Ouba
French Vest Indies and
Qui ana
Mexico
Netherlands West Indies
and Surinam
Panama
Peru
l«,325
57,817
8,1*53
162,023
3,575
128,780
8,996
6g,888
38,891*
Tenesuela
Other Latin imerlea
202,850
Total Latin America
1,130,920
1*6,291
Asia:
China and Manchuria
Prench Indo-ChinA
Hong Kong
India, Burma, and Ceylon
British Malaya
Japan
Netherlands last Indies.
Philippine Islands
Turkey
Other Asia
Total Asia
Other countries:
Australia
Sew Zealand
Egrpt and Anglo-Igrptlan
Sudan
French Morocco
Union of South Africa...
All other
Total other countries...
International
Ihldentlfled
Grand total
Short-term liabilities payable In dollars
Total
•horttera
32l*,?gg
1*0,1*59
1*1,1*56
33,357
9,606
18,0U9
95,1*1*1
1*32, 191*
57,031
71,808
1,123,689
36,181
8,713
20,1*99
li*,gg7
1*9,996
55,195
185
lotal
Dsposlte
of
forelgnere
Bills held
for
account of
foreigners
U S doTemfflent
Treasury bills
and certificates of indebtedness
.
.
Short-term liabilities payable in foreien currencies
Borrowed
from
forel^
banks
liabilities on
acceptances made
by foreigners for
a/c of reporting
basics and bankers
Other
.
Treasury Bulletin
72
Capital Movements:
Section III
-
Details for Month of May 1047
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
(In thoasanda of dollars)
Porohaaea I7 foralgnara
total
pnrehasaa
Coantr7
Sbmeatle seeorltles
Total
Sales by foreienrs
Toralfn aacrarltlas
Stooks
Bonds
total
Stook*
714
319
106
2,280
110
3.371
107
525
386
57
3
1
Torolgn sooarltloo
Dosestle seenrltles
total
sales
Bonds
total
Stocks
Bonds
2,357
1,743
250
739
2,407
278
2,631
448
149
95
5
7
total
ttaaka
Bnrope:
Ihilted EtngdoB
'>,191
a, 706
frauoe
Bel«lnB
750
820
2,599
225
115
Denmark
llnland
71
3
Ooraaagr
2
t
1
181
lug
lit
386
(
122
50
8
1,583
l,0lt5
3*
53
16
5H8
58
6
Oraeeo
Italy
IcLzenbourg
<
Votherlands
Horvar
Portngal
111
2,985
9
56
3
59
336
32
8
497
5,727
4,64s
3,096
4,150
in
528
108
14
8
103
7
56
266
100
41
260
11,829
7
8
8
87
101
253
13
2
2??
81
i
2,750
20,887
184
1
^1
^5^
10
18
18
32,716
641
77
14
339
14
29S
382
1,086
31*6
9
633
88
36
'53
12
180
466
4
4,761
3,510
2,695
815
1,251
285
2
1*57
9,079
332
69
63
^1
8
fiuBania
Spain
367
Sndan
90i»
353
565
257
505
I!
60
5,501
'*,77'»
3,251
1,523
Svltzarland
V. S. S.
B
h
Tugoslorla
Other %iropo
,
Oaaada
Latin iaerleal
Irgoatlna
BollTla
Brasll
261
9
a.
61
2
105
73
e
56
17
32
17>59
11,119
5,995
5,124
i,^
707
5,633
51,371*
25,199
17,«3H
7,365
26,175
95«
7^,053
13,918
3,301
10,617
60,135
2,497
57,638
23,873
13,024
4,850
8,174
10,849
1,771
3,87'*
658
8
219
649
8
173
9
3,2l6
2,988
1,252
26
271
962
772
2,214
26
452
575
4i
240
31
181
1.625
60
422
150
70
142
60
8
10
272
3
95
97
total Borope
727
4
H3
8
991
95
7
a
765
Chile
OalOBhlB
Costa Biea
1.73*
258
25
109
198
25
109
192
25
6
Onba
frennh West Indies and
Oulana
Nexloo
2,15'»
1,387
1,111
276
767
279
488
1,504
1,177
1,162
15
327
313
666
528
>^59
69
138
122
16
709
666
65i
10
l»3
4
30
2,593
118
22
1,932
116
22
l,»5?
116
7
223
2
79
5,901
113
72
5,523
108
72
4,510
91
7
4
73
8
661
2
1
1,013
17
V»
168
Pom
5
3
Tonesaela.
Other Uitln iaorlsa
653
1,922
221
699
15l»
1*32
78
171
l,0l4
1,1*99
154
807
128
583
26
224
17
692
total Latin iaarloa
15,026
6,122
7,245
13,164
10,277
8,347
1.930
2,887
878
8U7
31
2,230
2,184
1,620
564
46
24
24
23
1
5
7
2
5
3
7
2
7
159
128
29
323
159
111
72
110
238
Votherlands Vest Indies
and SorlnaH •<•.•>•>•
Panaaa
660
67
39
1,223
35H
209
5,537
585
8,904
1,659
5'a
306
1,604
60
73
1
1
1
95
702
Asia:
China and Kanohnrla
Trenoh Indo-Chloa
ff*^Ti/f
^r^T^»
India, Boraa, and Csjlen.
1(8
38
38
30
30
30
le
British Mali^a
Japan
Bethorlands Bast Indies.
Philippine Islands
torkey
Other lain
total Asia
Other eonntrlee:
lastralta
Hew Zealand
Bgn^t and Aa^lo-S^ptlan
Sudan
Trench Moroooe
Union of South Ifrloa.
All other
..
Total other ooontrles
.
101
115
11
212
101
115
6
"1
_2i
48
1,395
1,232
778
3,815
18
5
17
5
62
62
62
50lt
49
122
504
U6
122
3
25
122
t,565
757
234
523
3,808
112, '*9g
33,1'«
15,845
17,303
79,350
13
5
5
_lll
454
17
23
85
6
163
105
2,907
2,73"*
3,797
3,797
200
20
8
8
9
7
26
23
2,025
709
173
180
2
501
21
51
77
21
_li.
3,805
31*5
148
112
36
197
74,426
91,667
51,386
33.172
18,214
110,281
Onldentlflod
Orand total
4,924
3,466
Bonds
October 1947
73
Position In Foreign Currencies, by Countries
Table 1.- Net Position, and Current Transactions
Treasury Bulletin
11
CUMULATIVE
TABLE
CONTENTS
OF
1biu« and
p«^
nunb*r
191)6
Treasury financing operations.
w"*:
Hot,
Sm.
A.6
A-16
5
5
6
5
5
5
5
5
5
5
6
6
6
5
5
6
5
5
6
7
7
7
7
7
7
7
7
7
7
7
7
7
7
8
8
g
8
8
8
8
8-9
8-9
8-9
9
9
9
9
9
9
9
9
9
10
10
10
10
10
10
10
10
10
10
10
10
12
13
13
12
13
13
12
13
13
12
12
13
13
12
13
13
13
13
12
13
13
12
13
13
12
13
13
12
13
13
11
12
12
11
12
12
lU
lU
Ik
lU
Ik
Ik
lU
Ik
Ik
lit
lit
Ik
lU
lU
lU
Ik
Ik
Ik
Ik
Ik
Ik
lU
13
13
13
13
13
13
15
15
Jan*
r»b
lUr.
AfT.
Jnu
mor
*-5
A-1*
Jnlr
A-ZU
iac.
Sept.
i-5
A-1
Bummary of flecal etatlBtloB!
Budget recelpti end expendltur«t
Public debt and guaranteed obllgatlone outetandlng..
Means of financing cash requirementa
Receipts and expendlturee:
Budget receipts and expenditures:
••
Summary by major classifications
Receipts from Internal revenue
Oeneral expenditures.
Zxpendltures for national defense and related
activities
Expenditures for transfers to trust accounts,
etc
Expenditures of (}overnaent corporations (wholly
owned)
etc
Total budget receipts and expenditures by months
and calendar years
,
Trust accounts, etc., receipts and expendlturee*
Social security program:
Budget receipts and expendltureej
Social Security let
Ballroad Retirement Act
Railroad Unenploynent Insurance Act
Statements of trust accounts:
Federal Old-Age and Survivors Insurance
Trust Fund
Railroad Retirement Account
,...•...
Unemployment Trust Fund
lU
Ik
lU
8
lU
lU
lU
lU
lit
«i
6
Treasury oaeh Income and outgo;
Summary of cash transactions
Comparison of total budget receipts wltn cash budget
receipts
Comparison of total budget expenditures with cash
budget expenditures
Comparison of total trust account transactions with
cash trust account transactions
Comparison of change in U. S, securities outstanding
with cash borrowing or repayment of borrowing.....
Cash operating income and outgo by months and
calendar and fiscal years.
Analysis by major claeslf ications (old series)
Total cash Income and outgo by months and calendar
years (old serlee)
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
17
18
17
18
11
17
18
17
16
11
17
18
11
17
18
11
17
18
11
17
17
18
18
11
11
17
18
11
15
15
16
16
16
16
17
17
17
17
17
General Fund position and debt outetandlng;
General Fund of the Treasury
Analysis of change In balance of General Fund.
Means ol financing cash requirements
11
11
(Continued on followiog page)
19
19
20
19
19
20
October 1947
111
Cumulative Table of Contents
(Continued)
-
I
liu* and pa^a number
19>t6
igu?
Jan.
Mar.
Tot).
Apr.
May
Jun«
July
Au«.
8«pt.
Oct,
General Fund poeltlon and debt outstanding
'
oontlnued)
Statutory limitation on the public debt:
Status under limitation
Application of statutory limitation to the
public debt and guaranteed obligations...
Public debt and guaranteed obligations outstanding:
Summary
Interest-bearing public debt
Interest-bearing gu&ranteed obligations
Special iflsues to IJnlted States OoTernment
agencies and trust funds
Detailed statement:
seal years 1938-19^7
Monthly data
Chart
25
25
25
25
25
25
21
21
25
25
25
25
25
25
25
21
21
22
22
23
22
22
23
23
23
23
23
23
23
23
23
23
23
23
21
22
23
20
20
21
22
20
21
22
20
21
22
20
20
21
22
20
21
22
21
22
21
22
20
21
22
20
21
22
2U
2k
2lt
2U
2l»
2l*
21*
2U
2U
2U
2U
2U
2U
23
26
26
23
26
26
23
23
26
26
23
26
26
26
26
2U
25
25
2U
26
26
23
26
26
23
26
26
23
26
26
23
20
20
26-28
27-29
27-29
27-29
27-29
27-29
27-29
27-29
27-29
27-29
26-27
26-87
29
30
30
30
30
30
30
30
30
30
30
31
31
31
31
31
31
31
31
31
32
33
32
33
n
Computed Interest charge and computed Interest rate
Obligations of Government corporations and other
agencies neld by the Treasury
Issuance and r&tireoent of the public debt
Composition of the interest-bearing public debt....
Maturity schedule of Interest-bearing public
_ marketable securities issued by the United States.
Offerings of marketable Issues of Treasury bonds,
notes, and certificates of indebtedness
Disposition of matured marketable Issues of Treasury
bonds, notes, and certificates of indebtedness,
and guaranteed securities
25
Offerings and matxirltles of Treasury bills:
Description of offerings and amounts of
maturities
Prices and rates of offerings
32
33
Sales and redemptions of United States earlnge
bonds:
Summary of sales and redemptions, by series
History of sales and redemptions
Sales by series, classified by denominations....
Number of pieces sold, classified by denominations
Sales by series, classified by States
Redemptions of series X-5, classified by States,
Sales and redemptions of Treasury savings notes;
Summary of sales and redemptions, by series.
Sales and redemptions of series C Treasxu'y
savings notes:
Sales and redemptions
Sales by denominations
Sales by types of purchasers
33
31*
3»*-36
35-37
38
37
39-
1*2
3"
35-37
38
2g
29
29
30
30
30
30
3''
31*
31*
31*
3'*
31*
31*
31
31
35-37
38
35-37
38
35-37
35-37
35-37
35-37
32-31*
32-3U
38
38
38
35-37
38
38
35
35
?9
?5
ItO-Hl
36
36
36
36
?9
Uo-ui
to-ui
1)0-41
1+2
l42
U2
»*3
t3
"3
1*3
?9
ItO-Ul
ito-n
U2
1*2
1*3
1*3
?5
Uo-!
U3
Uo-ui
Us
Uo-Ui
U2
1*3
t3
UU
UU
t3
tl
uu
Sales and redemptions of United States savings
stamps:
Summary of sales and redemptions
Sales by denominations
25
25
t5
UU
UU
"5
t5
1*5
1*5
1*5
1*5
1*5
"•5
15
'•5
"5
1*5
Ownership of Government securities:
Summary distribution by classes of holders
Zstimated ownership by classes of banks and non-bank
Investors
Het market purchases or sales of OoTer&meat seoarl
ilea for Treasuiy InveBtmeat aocounts
U6
1*7
'•7
1*7
1*7
1*7
1*7
U7
U7
38
38
>*7
Ug
Its
Us
Ug
Ug
Ug
Ug
Ug
39
39
U7
he
ks
1*8
Ug
Ug
Ug
Ug
Ug
39
39
1*9-53
1*9-53
1*9-53
1*9-53
U9-53
1*9-53
U9-53
Uo-UU
Uo-UU
Treasury survey of ownership of Government securities:
Ownership oy banks and Insurance companies....
Ownership by- commercial banks classified by
membership in Federal Reserve System (for
quarterly dates corresponding with monthly
survey data)
1+8-52
'19-53
5it-5g
5i*-58
5't-58
U5-U9
Prloes and yields of Government eeourltleat
Over-the-counter closing quotations and price
hi story
Chart showing yields of Treasury securities...
Average yields of long-term Treasury bonds and
high-grade corporate bonds:
Revision In high-grade corporate bond average,.
Average yields, monthly, weekly, and dally
Chart showing average yields
,
5U-56
60-62
55-57
55-57
57
63
58
58
58
59
59
60
(Continued on following page)
60-62
63
55-57
58
6^*
59
60
65
55-57
58
60
60-62
63
55-57
58
6U
65
U6-Ug
55-57
58
''-II
U9
59
60
59
61
60
55
56
50
51
Treasury Bulletin
Iv
emulative Table of Contents
-
(Contlnuedl
li«ue and page Bumbar
I9U6
19^1
Hot.
Jan.
7eb.
lUr.
ipr.
H«y
Junt
July
Aue.
Sept.
Oct.
Corporatlone and oertaln other agenolee of the
Government
omb^ad balance ihaat (aa of quartarly dates,
beginning September 30, 19^6)
62.
Leant outstanding, olasalfled by type of loan (ai
of quarterly datei, beginning September 30, 19^).
Income and expenee (cufflulative, by flecal year
quarters, beginning with the first quarter of
19^7)
Sources and application of funds (cunulative, by
fiscal yeeu* quarters, beginning with the first
quarter of I9U7}
62,
66-71
63,
66-71
63-65
63-65
6U-66
,
67-72
62.67
62-67
58-»
68-7U
68-71*
65-72
Internal reven u e atatlstlOB!
Collections'o/ internal rerenual
Summary data
Chart
CoBparatlve details for current periods.
61
67
76
67
62
63-6U
68
69-70
77
75-76
78-79
68
69-70
75-76
66-67
68
72
78
81-82
83
72
78
76
77
67
68
7U
62
63
75
78-79
69-70
76-77
ei«.65
76-77
•15-56
72
79
79
58
79
79
80
58
59
80
81
82
59
60
61
eU-86
87-90
63-65
66-69
70-72
7'*
Monetary atatlBtlos:
Balance sheet of the Ixohan^e Stablliiation fund
(as of quarterly dates, beginning June y>, 19^6}*
Gold assets and liabilities of the Treasury
Increment from reduction in weight of gold dollar
(cuaulatlTe, by flecal year quarters, beginning
with the first quarter of 19^7)
Treasury gold receipts, (for quartsrly periods
beginning with July-September, 19^}
Monetary stocks of gold and silver
Components of silTsr monetary stock
Sliver production in the United States and silver
acquisition by mints and assay offices
Seigniorage on silver
Money in circulation.
>...>
•
68
81-82
»3
78
79
79
80
81
8U
85
86
83
67-68
«3
72
72
73
78
79
]l
79
go
75
81
69
69
72
72
73
69
70
70
85
]l
71
75
72
Capital movements between the United States and
foreign oountrles and net poaltlon In foreign
ourrenolee:
Historical summary of net capital movsaent since
1935
Summary by countries
Details for current month
Position In foreign currencies....
73-75
7f>-83
eU-86
87-93
77-79
80-87
88-90
91-97
83-85
86-93
9M6
97-103
88-90
91-98
99-101
102-108
77-79
80-87
88-90
91-97
88-90
91-98
99-101
97-103 102-108
83-85
86-93
9lt-96
77-79
80-87
88-90
91-97
8l»-86
87-9't
95-97
98-loU
7U-76
77-8U
85-87
88-9U
73
u^
Treas
HJ
U b
IHbAbUHY LIBHWM
1
0031957
@FedFRASER