Full text of Treasury Bulletin : October 1951
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
9
Library
..'
LIBRARY
ROOM 5030
JUN
TREASURY
?
11972
DEPARTMENT
mEASUMY.
Mm/LEFUN
DCTDBER-iaSI
UNITED STATES TREflSURV DEPRRTMENT
OFFICE DF THE BECRETRRV
October 1951
Table of Contents
Page
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
8
Treasury cash Income and outgo
12
G-eneral Fund of the Treasury
15
Debt outstanding
l6
Statutory debt limitation
21
Debt operations
22
United States savings bonds
27
Treasury savings notes
Jl
Ownership of Federal securities
32
Treasury survey of ownership of Federal securities,..
34-
Market quotations
38
Yields of Treasury and corporate bonds
k-2
Internal revenue collections
^k
Monetary statistics
kS
Capital movements
52
Cumulative table of contents
65
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 1951
A-l
Treasury Financing Operations
October I5 and November 1 Certlfloate Offering
On September 25, 1951, the Secretary of the
Treasury announced the offering on October 1 of an
Series C-1952, which were opened on September
were closed at the close of business on September
4-,
7.
and the books for certificates of Series D-1952, which
Issue of ll-J-month 1-7/S percent certificates of
were opened on September 18, were closed at the olose
Indebtedness in exchange for two Treasury note
of business on September 21.
notes,
Exchanges were made
1-lA percent
par for par and cash subsorlptlons were not received.
Series F-I951, maturing October 15 In the
t5.9'*-l million, and the 1-1/4 percent notes.
The certificates were issued in bearer form only in
maturities.
The two maturities are the
amount of
Series G-I95I. maturing November
$5,253 million.
1
In the amount of
denominations of $1,000, $5,000, $10,000, $100,000,
and $1,000,000.
The new certificates will be dated
October I5, I95I, and will mature October
In the case of the November
1
I952.
Reports to the Treasury on the ownership of
notes exchanged, In-
Qovernment securities Indicate that on July 31, 195I,
1,
terest will be adjusted to October 15.
about 62 percent of the called Treasury bonds and
about kl percent of the maturing Treasury notes were
Results of September 15 and October 1 Refundlngs
Subscriptions to the 11-month 1-7/S percent
Reserve Banks.
certificates of Indebtedness, Series C-1952, dated
the latest published for commercial banks.
September I5, 1951, amounted to $5^3 million, leaving
Subscriptions to
$172 million to be paid In cash.
Treasury Bills Increased
the 11 -month 1-7/8 percent certificates, Series D-I952,
dated October
1,
1951,
amounted to $1,832 million,
leaving $86 million to be paid in cash. Series C-I952
oertifioatae were exchanged for the
3
percent
Treasury bonds of 1951-55 called for redemption on
September I5, 1951i and Series D-1952 certificates
were exchanged for the
maturing October
l-l/lJ-
percent Treasury notes
1.
The subscription books for certificates of
Note:
Details of Treasury market financing operations are
shewn elsewhere In this Issue of the "Treasury
Bulletin", In the tables on "Offerings" and. "Dis-
owned by reporting commercial banks and Federal
The ownership figures for July 31 are
New Offerings of Treasury bills In September
$1^.7 billion and bills matured In the amount
totaled
Both the maturity and the new
offering on September 6 amounted to $1.1 billion.
The maturities in the three succeeding weeks each
of $k.l billion.
amounted to $1.0 billion and each of the new offerings to $1.2 billion.
The average rates of discount
on the four new offerings were 1.64^6 percent for
September 6 and I3, 1.644 percent for September 20,
and 1.647 percent for September 27.
position", respectively, of marketable Issues of bonds,
notes, and certificates of Indebtedness, and In the table
"Offerings of Treasury Bills".
October 1951
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In mlUioofi of dollarB
Net
Budget recelpta and expenditures
Net
receipts
1/
ExpendIturoa
2/
Surplus,
or
deficit
(-) 2/
Trust
account
and other
tronaac tiona
i/i/
Clearing
account
y
increase
In
public
debt, or
Net
Increase
In General
decrease
Fund balance, or
decrease
(-)
(-)
LavolB
,
eod of period
Debt outetandliie
General
Fuai
balance
Public
debt
Guaranteed
aecurltlea
72,1.22
136,696
201,003
258,682
269, U22
1*,568
'*,100
Total
Federal
securltlee
Flacal years:
igua
WUB
12,696
22,202
19W»
19^^
"•3,892
Uli,762
19l>6
U0,027
W"*?
I*0,0lt3
19I18
li2,211
W"*?
1950
1951
38,2U6
1952 (Bet.
J.
-21,U90
187
79,622
95,315
98,703
60,703
31.,
39,289
33,791
37,01.5
1.0,057
1.0,167
U8,lU3
1*1*,
55,138 2/
71,591*
633
5/
-57,1*20
-51,1.23
-53,91*1
-1,613
-338
-2,222
791
-20,676
-521*
751*
-1,103
8,1*19
-291*
-1,811
-3,122
3,510
-1*95
555
-507
366
99
679
1.83
-211.
1*61*
-8
16,000
-16,1*56 5/
307
57,679
358
6,515
10,662
U,529
10,71.0
-10,1*60
2,991
9,507
20,169
21*, 698
11*, 238
-11,136
-10,930
3,308
-5,991.
1,621*
-1,1.62
l*,932
l.,587
2,01*7
-2,135
1,839
5,517
7,357
23,1.61
61., 271.
61.,
1.78
3,1*70
258,286
252,292
252,770
257,357
255,222
1,623
1(33
1(76
90
73
27
20
29
76,991
11.0,796
202,626
259,115
269,898
258,376
252,366
252,798
257,377
255,251
Calendar years;
19U2
16,290
57,751
-1*1,1*61
19l>3
3l<,l»83
90,171*
19W»
'»3,531
97,181
87,522
-55,691
-53,650
19l<5
19'»6
-1*3,591*
38,810
1*1,322
-2,512
111, 010
38,576
36,209
2,1*31*
-3,592
-U22
Ul.ltSO
-1,788
-266
-1,161
-123
-1,386
753
U7,1.81.
3,767
-22,502
362
-18,966
-2,21.9
-l*,100
l',331
-1*05
3,097
1,111
l.,208
l.,679
-1.23
-Ul*7
I*,
371*
-81.
3I.0
I.,
172
-315
-51
87
-179
101
1*51
1*09
-62
213
5,21*1
38,122
1*1,711*
37,8311
38,255
3,579
3,381
5,lt35
3,205
2,972
3,651
April
May
June
l,3l»0
3,151
1,9115
11,767
3,101*
l*,656
July
AuguDt.
September
1,91*6
3,1*31*
2,1(79
U,832
3,585
3,995
October.
November,
December.
1,881
2,31*
•.igi
3,111
3,127
3,722
-1,230
-783
299
1.69
-272
1950- January..
February.
March. ...
3,366
2,972
It, 820
3,323
1*1.
2
2,1*96
1*76
3,269
1,551
170
-93
.
10,51*3
12,291.
22,236
26,003
3,502
-2U0
199
1950.
.
6,983
1,751
9,91*2
-350
-229
-502
311
19'»9.
I9U9- January,.
February.
March ....
50,232
57,707
61.,
1,783
-1,811
-1,159
111
-1,U88
-1,106
837
23 1.
87
291
-321.
-5U
-173
30
218
31*5
-133
20
-1*01.
10
1*71
631
1*76
160
-36
-88
589
-11
122
112, U7I
1,511*
232, IW.
567
339
278,682
81
55
30
256,981
252,620
252,721
36
26
251,61.2
21*
251,666
251,530
251,889
252,770
23
23
27
251,553
251,912
252,798
253,877
255,852
256,680
26
27
29
253,902
255,879
256,709
3,995
3,163
1,107
1,975
828
-133
l,03l
3,337
3,1*70
1*,1*18
1,281
5,699
l',737
20I.
-962
-315
11.8
257
1*,679
-265
5,01*9
-6U5
370
137
935
1*,1»22
5,186
6,121
30
27
27
256,892
256,395
255,721.
21.
255,71.7
255,718
256,350
257,357
22
20
255,71*0
-1,358
-79
25
-6
-1,1*19
l.,702
-61*2
11.7
-376
-238
It, 1.61.
.
11,1.01.
1*,296
108
-53
632
1,007
1,053
5,517
July
August. .
September
1,881
2,860
U,605
3,013
2,515
3,520
-1,132
-99
31
31*1*
11*7
-11.0
183
333
18
-27
-80
-658
U,500
5,185
5,505
257,51*1
257,871.
1,081*
-1,017
665
319
257,216
20
October.
November.
December.
2,056
2,851
3,170
3,102 6/
-1,111*
l*,ll*5
l.,211
3,71*2
1951- January .
February.
March ....
U,l.l.8
3,808
3,211
61*0
1*,257
1,01*7
8,112
l.,058
l*,05l*
2,626
.,007
3,11*6
l«,517
7,089
5,969
-1,381
-1,370
1,119
2,571
1*,739
-2,168
3,59l»
5,087
-1,1*93
Auguet.
.
252,71*7
256,865
256,368
2,962
July
252,656
256,805
257,011
257,160
2,81*7
April.
May...
June.
257,160
256,731
28
29
1,1.88
-17
169 6/
252,851.
256,778
256,982
257,130
2,320
1.70
259,1.87
659
5,291
5,767
April.
May...
June
-2526/
170,108
21*
232
-1,771
-833
308
-1*97
259,11.9
l*,301
l*,230
256,900
252,800
257,130
256,708
-111
359
881
98
108,170
165,877
230,630
278,115
20
16
256,370
257,377
257,557
257,891
257,236
1*9
-279
11*0
-1,359
-6
1*,139
-369
93
.,232
256,937
257,077
256,708
22
-63
-52
-83
21*7
-583
256,125
5,382
8,569
255,91*1
251*, 997
18
18
21
256,11*3
-181*
-31*
-l6l
111
221
929
3,187
U,1.5l.
227
-69
136
106
-270
-l,6ll»
-301.
1*3
366
129
-1,173
281.
1,571*
6,955
5,782
7,357
251*, 727
255,093
255,222
21
29
29
251*, 7U8
255,122
255,251
U
-11.
1*35
5,620
5,095
28
-103
-1,737
-525
255,657
83
256,61.4
32
255,685
256,677
1.5
Source:
Actual figures from Daily Treaeury Statement; eetljnates baaed on
1952 Budget document. Including effect of proposed legislation (see
ftiRO footnote 5),
More detailed Infoniiation vith respect to the
figures in this table ie given elsewhere in the "Treasury Bulletin".
1/ Gross receipts lees appropriationfl to the Federal Old-Age and Survivors
Insurance Trust Fund and refunds of receipts.
2/ Transactions of the Foreign Economic Cooperation Trust Fund, established
under Section 111* (f) of the Economic Cooperation Act of I9C8
(62 Stat. 150), are consolidated vlth budget expenditures.
Excess of receipts, or expenditures (-).
For outstanding checks and Interest coupons, and telegraphic reports
-91*1*
5/
256,959
257,100
256,731
255,958
255,018
frcna Federal Reaerre Banks; excess of receipts, or expenditures (-),
In teatljaony before the Senate Finance Cosmnlttee on June 28, 1951,
Secretary Snyder, estimated 1952 net recelpta under present lav at
$58.5 billion and expenditures at $68. billion, vlth a resulting
deficit of $9.9 billion.
Beginning November 1950, Inrostinente of vholly ovned Government
corporations In public debt securities are excluded frcm budget
expendlturea and Included vlth other such Investsnents imder "Trust
account and other tranaactlona". MJ\:bs^nants for July-October Investanents vere made in the novamber and Jemuary figures.
i*
6/
21.
2ll
treasury oulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 1.- Receipts by Principal Sources
(In millions of doll&re]
Fiscal year
or nionth
October 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 3«- Bxpenditures for National Defense and Related Actinties
(In millions of dollars)
Department
of the
Air Force
Flacal year
Department
of the
Deparlsaent
of the
Amy
Nary
i6/
iS/
WliS
39,720
90,501
i?i«;
1*8,370
191*7
191*5
16,S12
50,337
27,800
6,911
U,500
6,01*6
19't'i
1950
1951
12,158
12,378
19,958
1952 (Estlaatod]
''1,''31
igiis
1,690
3,506
6,237
Fajmenta
under Arnad
Forcea
Leave Act
Reconatructlon
Finance
Corporation
12/
1*9,21*2
26,538
2,682
30,01*7
1*72
15,161
328
138
5,1*17
l*,090
6,875
1*0,007
l*,998
l*,171
1,986
270
li,ltl2
10
1*,110
1
2
5,756
United
States
Maritime
Gurpliifl
property
disposal
12/ 20/
CccmnlBeion
18/
3,812
3,227
Hi*
691*
661.
106
271
277
1,501
268
1*1.2
136
25
98
Strategic
and
critical
materials
21/
Other
S/
7,1*1.7
21/
325
7
1
6,305
l',U7
11
99
551*
1*4
299
U39
656
225
,300
124
71
1*31
1951-JQnuai7...
February
March
1,651
1,695
2,057
U83
April
May
June
2, 160
622
733
521*
72
81*2
1,01*1
TLB
620
63
71*6
July
August...
2,930
3,0l*0
916
897
1,182
1,210
759
792
108
3^
39
30
5,970
1,813
2,392
1,550
11*3
09
.
Fiscal year 1952
to dat«
2,396
2,U95
1.83
656
518
567
718
a2
560
535
585
Source: (Sane as Table 2).
Footnotes at end of Table 5.
Table 4.- Expenditures for International Finance and Aid
(In millions of dollars)
Ftacal year
or mcnth
55
34
25
26
1*7
100
40
42
Ireasury jjulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 5.- "Other" Bxpendi tures
(In mlllione of dollars)
Fiscal year
OP month
^
October 1951
BUDOET RECEIPTS AND EXPENDITURES
Table 6.- Summary by Months and Years
(In millions of dollars)
Year
Ireasury nulletin
BUDGET RECEIPTS AND EXPENDITURES
Table 7.- Social Security Act - Budget Receipts and Expenditures
(In minions of dollara)
Fiscal year
or nan'Ui
October 1951
BUDGET RECEIPTS AND EXPENDITURES
Table 8«- Railroad Retirement Act - Budget Receipts and Expenditures
(In millions of dollars)
Eecolpte
Fiscal year
or month
Ezceea of net
receipta^ or
eipendituree (
1/
Taxes on
carriers
and their
an^loyees
-
Expenditures
Deduction:
Hefunda of tales
on carriers and
their employees
Administrative
expel
penses
Net
receipts
Trans fora to
Railroad Retirement Account
(trust account)
2/
igiA
19^5
1.8
267.0
265.2
2a.8
3U.1
281.7
380.0
557.0
29'*.5
191*8
-26.3
-12.8
77.3
-206.5
267.1
285.0
282.6
380.1
557.1
19^9
1950
1951
-15.5
-3U.1
-30.5
563.8
550.2
577.5
563 .U
578.9
583.7
608.0
-60.8
6.5
139.5
1.6
6.5
139.5
1.6
6.5
139.5
62.3
62.3
-79.0
3.0
U.8
139.2
3.
U.
as.o
82.0
60.3
27.3
60.3
27.3
igitfi
19l»7
1951 -January,
FstruflJ7,
March...
April....
May
k.8
June
139.2
July
August..
-59.7
38.7
549.6
577.5
302.8
763.5
2.5
2.3
2.6
4.3
5.0
262.7
308.8
291.9
298.5
758.5
U.lt
574.5
582.8
608.0
.9
139.
.6
.6
66.0
66.0
I
>
Source: Dally Treaeury Statoiient.
1/ Excese of expenditures Is covered by appropriatlonfl by Congress.
2/ Interest on refunds is included under "Adjninlstratlve expenses",
i/ Consists of expenditures from appropriatlans made specifically for
administrative expenses relating to the Eailroad
on refunds of tares (see footnote 2).
Less than $50,000.
fietlreoufEit
Act, and Interaet
Table 0.- Railroad Unemployment Insurance Act^- Budget Receipts and Expenditures
(in millions of dollars)
Receipts
Fiscal year
or month
Excess of
receipts, or
expenditures (-)
2/
Railroad
unemployment
insurance
contrlbutlonfl
1944
1945
1946
1947
1948
-2.7
1949
1950
1951
April....
July
August . .
Insurance Administration Fund) 4/
^l/
tremfert to Sallroad
Unamplo/ment Insioranoe
Account, Uoenmloyaent
Trust Tund
^
3.2
3.7
3.5
4.5
5.5
11.7
8.9
9.6
-.6
14.9
12.6
13.1
13.7
15.1
-5.1
-3.2
4.0
9.7
9.1
9.8
14.8
12.3
5.8
5.9
6.9
5.8
9.0
5.4
-.5
-.4
.1
2.0
2.3
.5
.5
.4
.5
.5
.4
-.3
-.5
.1
.1
.3
.6
.3
.6
2.1
2.4
.3
.3
.5
May
June
Uneoiployment
12.1
13.2
12.9
14.2
14.5
.6
-.2
1951-JanuQry .
February.
March. . .
Expenditures
AdmlnlBtrative expenses (Railroad
-4.9
-.2
Source: Dally Treasury Statonent.
1/ Operated as Railroad Unemployment Insurance Administration Fxind.
2/ Excess of expenditures Is covered by appropriations by Congress.
3/ Through 1948 represented 10^ of contributions under the Railroad
Unemployment Insurance Act of 1938; the remaining 90^ was deposited
in the Railroad Unemployment Ins\irance Account in the Uneoqjlojment
Ti-uat Fund.
Beginning 1949, represents contributions equal to O.256
of the taxable pay roll; the rftnalnlng contributions are deposited
4.9
9.2
9.7
4.4
.4
4/
5/
*
in the Rai lroad Unemployment Insxa-ance Account (45 U.S.C. 358 (f)).
(See "Trust Account and Other Transactions", Table 7.)
Consists of expenditures from appropriations made speciflcaULy for
administrative expenses relating to the Railroad Unemployment
Insurance Act.
Repreeents excess funds of the Railroad Ubeoployment Insurance Admlnls
tratlon Fund, under act of Oct. 10, 1940 (54 Stat. 1099).
Less than $50,000.
Treasury Bulletin
TRUST ACCOUHT AHD OTHKE TRAHSACTIOHS
Table 1.- Sumnary of Trust Account and Other Transactions
(In mllllona of dollars)
Trust accounts, etc.
Nst of
Fiscal year
or month
account
and other
transections 1/
Het investanante of
t]rust
Het receipts, or
expenditures (-)
Expenditures
(other than
Receipts
Oovemment agencies In
public debt securities 2/
Guaranteed
inrestaaents
I9W
19'*7
-2,222
791
-52U
-1,103
I9W
-29it
19't9
-1.95
1950
*951
IS"*?
191*6
780
7,5Wt
5,085
7,086
7,712
It,
3,238
2,619
2,658
99
679
6,669
7,796
1952 (Estimated),
l»64
3,'»75
X9iX-3tBXIBTJ
February...,
-83
April
Ma;
June
July
August
,
3,625
3,857
3,82U,
6,950
5,71'*
Not guaranteed
5,200
3,668
3,362
3,060
2,683
1,276
160
387
16
-123
2,311
1|6
28
-1*02
8
11*
-10
-371*
-170
3,9"'5
3,557 hJ
8,620
5,ll>5
3,17U
7
572
1*87
6
1*30
222
258
339
209
127
-3
190
277
-66
-28
-31.
350
Wt9
91
-69
136
63
1*67
I403
W7
25
638
1,055
1,003
1*17
lOlt
lt87
66l»
-1*8
lt09
292
U97
106
k6o
227
March
305
-458
6,2W
1,890
-281
3,852
lt,]29
1»,U7U
6,515 2/
Ret redeonptlons , or sales (•),
of securities of Coreinment
agencies In the market 2/
281*
708
899
118
583
U
83
1,079
Souroo: Actual figures from Daily Treasury Statss&ont; eotlmAtea based on
19^2 Budget document, Including effect of proposed logielatlon.
i/ Excess of receipts, or expenditures {-),
2/ Consists of transactions ^loh clear through accounts of the Treasurer
3/
y
*
*
13
*
21*
1
*
-1»
1*3
of the Iftilted States.
Excludes Foreign Eoonomlc Cooperation Trust Fund (see page 1).
See Table U.
Less than $500,000.
Table 2.- Trust Account Receipts
(In wi 1
Federal Old-Age
and Sur7 Ivors
Insurance Trust
Fund
Fiscal year
or month
5,085
7,086
7,712
H nna
Railroad
Retirement
Account
of dollArS
Unomp 1 oyman t
Trust Fund
National Serrlce
Life Insurance
Fund
C^oremment
Life
Insurance
Fund
Ckrvemmont
employees
retirement
funds l/
Other trust
funds and
accounts
2/
273
324
312
323
797
1,567
1,508
1,280
1,289
1,313
905
2,127
2,351
1,504
740
103
134
90
501
557
6l4
578
594
351
1,038
1,666
191*7
191*8
6,81.4
6,515 i/
1,395
1,434
1,386
1,623
1,807
191*9
1950
1951
5,714
6,669
7,796
1,924
2,367
3,411
625
645
678
1,173
1,281
1,542
690
1,076
684
92
87
86
680
809
850
529
403
545
1952 (Estimated)
8,620 4/
191*1*
191*5
191*6
,
94
97
792
1,174 i/
4,l4o
721
1,480
697
89
811
407
572
708
430
246
374
250
63
1
105
5
35
58
208
29
3
30
42
1
60
49
60
4
33
53
158
534
407
83
1
32
52
4
394
June
467
1,055
1,003
66
97
205
48
36
44
179
112
29
1
July
August
409
1,079
175
516
60
27
58
44
34
4
4
30
30
40
92
1951 -January . . . .
February...
March
AprU
May
Source: (Same as Table 1).
1/ Consists of ClTll Service and Foreign Service retirement funds.
2/ Includes Ad,}usted Sarrico Certificate Fund, District of Columbia,
Indian tribal funds, island possessions, Increojent resulting frcsa reduction in the weight of the gold dollar, and through June 1950
seigniorage on silver under the Silver Purchase Act of 1934, There-
376
^
4/
2
after such seigniorage is included vith other seigniorage under
budget receipts.
Excludes Foreign Economic Cooperation Trust Fund (see page 1).
Total Included $275 million for Medical Care Insurance T^'uat Fund under
proposed legislation.
October 1951
I
TRUST ACCOUNT AMD OTHKR TRANSACTIONS.
Table 3.- Trust Account Expenditures Other Than Investments
lU
ireai>iuy
TEUST ACCOUNT AHD OTHER TRANSACTIONS
Table 5.- Federal Old-Age and Survivors Insurance Trust Fund"^
(In millionB of dollars)
Fiscal
year
or
month
uuiwiui
October 1951
11
,
TKUST ACCOUNT AHD OTHER TRANSACTIONS
Table ?•- Unemploynent Trust Fund
(In miUloos of dollars)
Bacelpts
State
accounte
Deposits
by
States
Trans
Contrl fare
but ions fran
Statea
2/
3/
1936-191*1*
191*9..
8,180.9
1,507.8
1,279.8
1,289.1*
1,312.9
1,173.2
1,281.0
7, 281*.
Transfers
from
Administration
Fund
UncBiploy'
Inroetmente
11*3.6
11*6.9
1,11*5.9
.1
9.0
9.7
5.1*
180.1
167.1
116.
.1*
127.6
130.6
.1*
981*.0
165.3
7,1*1*9.1
7,1*09.0
7,852.0
U.8
817.1*
.5
1*19.9
60.8
798.1
1*51*
86.76/
5.9
2.9
U.l*
13l*.0
l*.8
-1*2.3
66.5
75.2
70.1
63.0
72.1
3.5
3.1
2.7
318.1*
68.T
76.7
66.5
9,632.7
9,059.9
39.2
.1
2.7
393.1*
.3
17.9
3.6
57.7
375.5
53.3
375.2
75.8
l».l*
1,1*68.6
Source: (Same as Table 1),
1/ Excludea Interim advance of $15 million from the Treasury and subsequent
repayment, both tajclng place in the fiscal year 191*0.
2/ Represanta contributions under the Railroad Itoeniploymant Ineurance Act
of 1938, as amended (1*5 U.S.O. 360 (a)), in axcess of the amount epoclfied
for administratlTe expenses. (See "Budget Receipts and Expendlturea"
Table 9.)
3/ Represents amounts transferred from States to Railroad TJnainploymont Insurance Account equivalent to amounts of taxes collected vlth respect to
period from January I936 to June 1939, Inclusive, from employers vho ccme
67.1*
107.2
1*65.6
-71*1*.
-21*
.1*
27.2
-U.O
2.2
3.9
72.
1*/
1/
298.9
6/
8,367.1
7,869.0
8,323.0
.3
.3
8,298.1*
18.1
6.5
8,182.1*
7,1*37.9
8,138.3
7,l'll*.3
Ul.U
22.1
2.7
1.5
8,079.2
8,061».2
lU.l*
.6
7,666.3
7,800.3
7,758.0
7,639.2
7,778.2
7,738.2
25.5
20.7
19.0
1.6
7,733.6
8,052.0
8,079.2
7,698.2
8,023.2
31*
8,061* .2
8,068.2
8,367.1
8,029.2
8,335.2
8,367.1
8,335.2
1.1*
.6
.7
27.9
lU.l.
.9
.6
37.3
30.8
1.7
1.1
30.8
1.1
within the purviev of the Railroad Unemploynant Insurance Act.
Eepreeenta excess funds of the Railroad liiaii5)loyinent Insurance Administration Fund, under act of Oct, 10, 19iK) {^k Stat, IO99),
For railroad unemployment benefits and refunds.
Includes transfers to the Railroad Un€8i5)loyment Administration Fund
as follows:
$9.7 million in I9U9 and $2.6 million In 1950, representing adjustanont for over -collect lone due to retroactiTe change In
tax rate under the Railroad TAieisployment Insurance Act, as amended
(U5 U.S.C. 358 (a)).
Lesa than $50,000.
Table 8*- National Service Life Insurance Fund
(In mllllone of dollars)
Fiscal year
or month
.0
-11*0.6
59.1*
1*2.1
85.3
133.9
66.8
393.7
97.3
107.2
17.2
51.7
96.1*
.1
901.9
.1*
8.5
7.8
31.7
102.3
73.9
71.5
Apr.
May.
June
15,1*36.8
5,870.0
7,307.2
70.7
l*.l
17,999.8
5,878.8
7,315.3
761* .3
3.5
Inception
to date.
1,1*36.5
65.1*
207.8
21.7
Aug.
5,878.8
.8
650.0
105.2
207.9
29.2
5.3
1*3.8
.U
715.1*
1951-Jan.
Fob.
Mar.
8.1.
105.9
70.1
1,128.3
182.6
15.0
burelng
In
offltruat
accoult oer*e
account
2,152.1*
61.1.3
1,279.0
In dlo-
Inveatnanta
aeaeta
52.0
1,1*79.7
July
Benefit
payments
11*6.5
1952 (Eat
.5
mant Insurance
C-),
Account l/ In
81*8.3
161*.
3.1
or
decrease
1,227.1
1,879.0
11*
.9
869.5
858.9
Unexpended
bolence
increase,
1,313.8
2,025.5
900.3
1,098.8
1,362.6
31*
road Uhanployment
Insurance
Account
^
2,302.1
71.3
.1*
to
drennils
by
States
377.9
123.6
105.9
BaU-
With-
y
1,51*1.6
1950..
1951..
Total
29.1
8.9
9.6
9.2
9.7
383.7
118.8
1,256.0
1,009.9
1,005.3
1,007.3
Aaaeta, end of period
Ret
Kallroad
State accounts
Transfers
Flecal year
or mfiin^
191*5..
191*6..
191*7..
191*8..
Expenditures other than inrestanants
Ballroad Unemployment
Ineurance Acccrunt 1/
Treasury Bulletin
12
.TREASURE CASH INCOME AHD OUKJO.
Table 1.- Summary of Cash Transactions
October 1951
13
.TREASURY CASH IIICC*E AND OUIGO.
Table 3.- Derivation of Cash Budget BxpendltureB
(In mllllana of dollazQ)
Fiscal year
or month
.
:
.
Treasury Balleiin
lU
TRRASURY CASE INCOME AND OUTGO.
Table 5.- Derivation of Cash Borrowing or Repayment of Borrowing
(In mllllonfl of dollore)
Increase, or decrease
In Federal securities
outstanding
Guaran-
igWi
WiiS
igue
teed
securities
Issuance of Federal securities resulting from budget expenditures,
etc., or refunds of receipte
Excess
Aniad
Notes for
profits
forces Adjusted Intertax
leave service national
refund
bonds bonds 1/ Bank and
bands
Fund 1/ 2/
1/
Net investzienta
In Federal
securltleB
Fiscal year
or month
Public
debt
Noncash debt transactions
Less:
(-
Total
Federal
By truBt By Govfunds and ernment
accounts agencies
securities
^
Interest
on
savings
bonds and
Treasury
bills
it/
Net transactions In
guaranteed
securities
not reflected in
Treasurer's
accounts
Plus:
ash
issuance
of non-
guaranteed
securities
of Federal
agencies
Equals:
Net cash
borrowing,
or
repajment
of
borroving
(-)
s/
-190
-277
66
56,757
1*67
28
559
580
323
-19,389
-7,280
57'*
-11*
6U,307
57,679
-2,U77
-1,190
61,830
".,883
1»,129
206
-5
la"*
213
207
56,1189
6,738
-108
8911
31*2
•3
3,lM)9
-86
-8
-h
-970
-39
-10
86
203
l,39lt
159
178
-69
1*35
-387
-16
10,783
-11,523
-6,010
5,200
3,668
3,362
3,060
321*
10,7'tO
-16I1
638
374
-2,513
U,23l
-5,795
-65
325
170
12,730
19''7
•U,136
19't8
'5,99lt
7,892
1,793
-1,229
2,ll«)
-913
-2
-2
-k
-1
-323
166
13
igitg
478
2,916
2,311
'',587
-k6
-8
lt32
1950
1951
'',579
33"*
-lrt)5
-2,135
10
-2,126
1»,0U5
3,369
319
97
187
1952 (Est.)
16,000
-7
15,993
3, ''33
3,061
113
1951 -Jan.
Feb..
Mar..
-583
-6
-589
138
-33
61.
-19
-12
39
Apr.
May..
June.
-19
-13
-9
-95
-160
-1
-1
-18I.
-18I.
Wt9
230
281
207
-91*4
-9l>l
1''3
U5
2
13
-270
-270
366
129
375
129
135
518
7'»7
99
80
638
8
8
25
181
509
81
U63
25
86
-2
1.7
U3U
992
July.
Aug..
I*
-1,037
-13
«
]*/
^
•
-1.27
-1,083
-25
-2U
3"*
W»
92
Source:
(Same as Table 1).
1/ The issuance of these securities is treated as a noncash budget expenditure at the time of Issuance and as a cash budget expenditure at the
tljne of cash redemption; net issuance or not redemption ( - )
2/ See Table 1, footnote 1.
3/ The issuance of tJiese securities is treated as a noncash deduction from
7,'t39
-28
28
13
1.9,1.71.
-1.30
1.8
-167
-570
•
J*3
252
U.0
budget receipts at the time of Issuance and as a cash deduction at
the time of cash rodemptionj net Issuance, or net redanption (-).
Accrued diecoxmt on savings bonds and bills leas Intsrest paid on
savings bonds and bills redeemed.
Includes borroving through Postal Savings Syston,
Less than $500,000.
Table 6.- Cash Operating Income and Outgo by Months
(In millions of dollars)
Annual total
Calendar year
Jan.
Apr.
May
July
A\.g.
Sept.
2,170
2,327
3,372
3,238
3,371
2,803
5,562
6,015
5,276
3,112
3,162
3,150
l.,666
2,268
2,03l
2,U0
3,521.
I.,
2,851.
U,6oo
Calendar
year
Fiscal
year 1/
Cash operating income:
1,1.76
5,293
1,61.8
2,069
l.,663
19W.
2,915
3,101*
3,319
3,61.2
191*5
3,721*
3,161.
3,032
5,61.9
2,366
3,850
2,965
6,332
6,016
19U6
1*,275
l.,068
6,675
7,001
191*7
I9I.8
3,821
U,91.7
l.,ua2
I.,
5,585
6,019
5,555
2,228
2,U02
5,162
8,U89
1,633
2,960
6,396
8,009
7,118
3,700
7,620
7,1*32
8,561.
7,677
7,765
3,600
191*3
191*9
3,683
1950
1951
3,1*85
11,696
51.8
3,893
3,595
l.,877
1,1*30
2,71.6
2,969
2,595
2,939
U,ll.8
2,761.
l',l83
2,332
l.,886
l.,S77
2,1.1.6
U,798
U,687
7,367
".,585
I.,
667
l.,915
25,171.
1*7,861
50,21.0
1*3,839
2,213
2,212
2,909
2,683
2,705
2,877
3,030
2,813
5,852
5,538
37,919
l.,328
1.9,608
1.1,635
2,589
2,280
3,305
3,190
2,965
3,987
U,106
I*, 263
1.1*,
319
1*3,591
l.l.,971
1.5,1.00
1.1,371.
Ul,628
3,1*87
U,l.88
1.2,1.51
1.0,970
53,1*39
88,967
810
76,909
93,956
1*,156
1.8,191.
865
2,01.6
2.1.26
7,693
7,686
6,326
7,625
7,886
5,913
7,766
7,373
7,823
8,178
91.,
l',75l*
5,221*
86,11.2
95,181.
2,9U1.
2,8U1.
2,269
3,578
1*1,399
61,738
3,073
2,950
3,715
3,009
5,565
3,91.3
2,1*90
3,1*76
1*,235
1»,070
U,OOI.
38,616
36,897
36,931
3,199
2,570
2,779
3,266
3,335
-U,368
-U,908
-U.lUl
-2,331
-1,671
-1,050
-5,1*12
-5,671.
-3,101.
-5,061
-U,U96
-1,971
-51,068
-53,735
-2,61.0
-1.6,616
-1,721*
-36,531.
-1.6,095
-u.,91.5
1*3
1,6H
-161
5W.
-896
578
236
-17,899
723
18
510
1,1.69
-1.99
816
-283
1,068
1,666
-1,220
-909
6,659
8,903
1,051
-2,135
7,635
Cash operating outgo:
191*3
6,1*97
19U1.
191*5
191.6
7,537
7,729
U,668
191.7
2,715
3,1*87
2,961
191.8
2,1*97
2,726
3,259
3,537
3,522
3,1.18
2,855
3,177
191*9
1950
1951
3,1*38
Net cash operating incoiae
or outgo ( - )
3,850
U,0l.6
".,219
3,063
2,397
3,130
7,988
8,U78
8,829
7,017
7,71*0
7,21.9
8,1.36
3,853
1*,562
2,71*5
8,1U6
7,512
2,760
2,781
2,507
3,709
3,700
l*,73U
l.,129
l*,550
3,272
2,588
2,966
3,11*3
7,390
8,027
7,750
i.iui.
5,151*
U,o6l
5,223
-5,781.
-5,321
-3,325
-l.,81.7
-U,358
-1'.385
-'',536
-2,11.6
-•.,922
-2,813
-379
-U,986
-U13
-827
-320
-885
-1,032
-1,989
1*,81.3
3,197
3,81.7
3,1*71*
3,1*26
3,1*15
1.2,61.2
36,1.96
1.0,576
1.1,969
,
19'*3
191*1*
191*5
191*6
191*7
191*8
191*9
1950
1951
Source:
8,736
3,876
(Same as Table 1)
-5,601
-U,622
-U,005
-1,636
-l.,920
368
-2,327
-1,889
-1,785
1,773
1,106
1,986
829
308
1,259
1,1.60
2,621.
-835
-35
102
1,32U
635
58
1,356
2,601
1.
1.62
7U8
-1,699
-1,661
-l,lllt
21.8
1,116
l.,270
-1,181.
-762
-1,006
2,11.1.
-'.,905
-2,81.3
1,701.
-l.,6oi
-1,231*
626
1/
Ul
212
-566
511*
-1.61
193
5,703
8,076
-1,267
72
1.85
1.82
-965
FlBoal year ending Jane 30 of year indicated.
-128
October 1951
15
GENERAL FUND OF THE TREASURY,
Table 1«- Status of the General Fund
(In millions of doUaro)
Assets
Eai of fiscal
year or month
Gold
Other
20,775
25,119
lU,7oe
3,730
5,370
15U
150
160
1,023
1,073
21'3
1950
1951
3,862
5,927
7,3-1
1,022
1,052
1950 -Dec ember
'•,721'
1951- January.
14,865
February
March ...
5,806
8,991
19'*''
W"*?
19'*6
19lt7
19't8
19't9
April
May
Deposits in Federal
Beserre Banks
Bullion, coin, and
currency
,
June ....
July.....
August..,
7,360
6,376
7,871
Available
fundjs
666
558
In process
of collection
Deposits in
special
depos
rsltarles
Othar
depos Ite
1/
_
collections
1,'*42
1,500
1,006
1,202
1,928
232
191
123
LlabUltles
B&lence in
the Oeneral
Fund
and
607
20,169
1*21
21',698
''70
lit, 238
1*22
3,306
'»38
'',932
309
323
380
392
UlO
3, ''70
511*
5,517
7,357
18,007
22,622
12,993
962
1,773
507
289
305
310
283
1,771
3,268
5,680
219
191
176
Its
8
950
103
338
250
1,052
181
690
129
2,iVt
327
1192
4,232
1,036
1,038
201*
807
298
2,117
1*03
'*12
't,l'5lt
191*
1*65
11*8
3,61'*
3'»7
'*23
l,0l»3
191
1,120
31*8
5,900
390
1*22
5,382
8,569
1,043
1,052
185
181
176
611
666
338
5,030
029
5,680
369
337
380
1K)5
110
250
511*
6,955
5,782
7,357
179
176
I159
3,694
3,2W»
369
392
U12
336
5,620
5,095
1,0''6
1,01*6
6,032
1,060
5,''31
l,0't7
lltS
123
It,
58I.
111
591*
Source: Dally Treasury Statement.
1/ On account of withheld taxes and sales of Government securities.
Table 2.- General Fund Balance By Months
(End of month, in millions of dollars)
Feb.
Mar.
647
July
Sept.
Apr.
May
384
364
2,022
1,957
2,358
417
862
2,582
1,841
2,682
145
834
2,472
1,789
2,230
339
1,200
2,137
1,475
1,904
862
1,146
2,193
1,799
2,188
755
909
1,812
1,473
1,764
590
1,107
1,597
1,434
1,406
555
1,026
2,564
2,209
1,906
Aug.
340
327
1,537
2,319
2,004
376
221
4,902
2,081
1,767
4,818
2,446
2,866
292
241
2,294
1,935
2,442
1,726
2,950
2,933
2,282
2,025
1,539
2,975
3,343
2,350
1,701
1,826
3,140
3,389
2,514
2,715
1,702
2,689
3,044
2,210
2,425
1,754
2,567
2,924
2,030
1,904
2,553
2,216
2,838
1,891
2,633
2,639
2,116
2,447
2,258
2,599
2,902
2,260
2,231
2,454
2,873
2,860
2,978
2,178
2,415
2,266
2,676
2,569
1,913
1,920
2,641
2,608
2,447
2,165
1,817
2,319
2,973
3,083
2,476
1,928
3,560
3,562
5,392
19,155
17,313
25,961
3,493
4,179
16,606
15,277
24,367
2,851
12.617
12,279
1945.
1946.
2,950
7,724
12,239
19,606
25,427
20,935
2,812
12,687
8,522
9,625
18,536
2,991
9,507
20,169
24,698
14,238
3,288
8,595
21,924
22,082
12,029
3,154
6,364
17,672
18,631
11,040
4,302
18,158
15,117
16,134
10,171
4,896
19,297
9,990
12,813
8,070
3,082
14,958
9,803
14,445
6,665
10,543
12,294
22,236
26,003
3,502
1947.
1948,
1949.
1950,
1951.
4,711
4,648
4,659
5,049
4,454
7,134
4,318
5,291
6,909
5,353
5,767
6,121
8,569
4,312
4,612
3,995
4,702
6,955
4,066
4,946
3,163
4,464
5,782
3,303
4,932
3,470
5,517
7,357
3,069
5,074
3,337
4,500
5,620
3,400
4,832
4,418
5,185
5,095
3,952
5,583
5,699
5,505
4,107
4,802
4,737
4,145
3,935
3,097
4,208
4,679
4,232
1932
1933
193''
1935
1936
1937,
1938,
1939.
19'tO,
19'»1.
19''2.
19''3.
19'''',
Source:
Dally Treasury Statenent.
5,186
5,382
493
U,366
'',385
4,422
4,139
,
Treasury Bulletin
16
.KEHT OOTSTAKDHC.
Table 1.- Summary of Federal Securities
(In millions of dollars)
Tot&l outstanding
End of
fiscal
year or
month
Public
Debt
Interest-bearing debt
Guaranteed
Bocurl-
Public
debt
202,626
201,003
258,682
1,623
269,1*22
476
258,286
252,292
90
73
252,798
257,377
255,251
252,770
257,357
255,222
27
20
29
250,785
255,226
252,879
1950,
1951,
250,762
255,209
252,852
24
17
27
2,012
2,150
2,372
2,009
2,148
2,370
245
265
512
539
1,516
409
467
259,U5
191*9.
201
269
69
1,460
2,326
1,311
3,173
2,229
199,543
256,357
268,111
255,113
250,063
269,898
258,376
252,366
1*33
1,567
2,350
1,321
3,179
2,234
201,059
256,766
268,578
255,197
250,132
191*6,
191*8,
International
Back
1/
19'»5.
191*7,
Public debt
ties
tlea
M
19W»,
Matured debt and debt bearing no Interest
Guaranteed
securi-
83
376
231
2S0
Monetary
Fund
Other
2/
(natured)
4l6
66
1,724
1,161
1,259
2,057
935
802
722
41
1,063
1,270
1,283
660
613
575
Deit peak
Fob. 1946...
279,76U
279,211*
551
278,451
277,912
1950-Decanl)er,
256,731
256,708
24
254,304
254,283
1951-Januflry,.
256,11*3
256,125
February.
March. . .,
255,958
255,018
255,91*1
254,997
18
18
21
253,720
253,397
252,572
253,704
253,382
252,553
April...,
254,71*8
Majr
255,122
255,251
254,727
255,093
255,222
21
29
29
252,299
252,756
252,879
255,685
256,677
mfn
28
253,351
254,351
June
Jul7
August.
.
32
1,313
1,301
238
2,427
2,425
562
1,270
593
16
15
19
2,423
2,561
2,446
2,421
2,559
2,444
561
702
590
1,270
1,270
1,270
590
587
584
252,280
252,729
252,852
19
27
27
2,449
2,366
2,372
2,447
2,364
2,370
583
503
512
1,283
1,283
1,283
581
578
575
253,325
254,321
26
31
2,334
2,325
2,332
2,323
1,283
1,293
572
569
Source: Daily Treasury Statement.
Footnotes at end of Table 2.
Table 2.- Net Change in Federal Securities
Guaranteed
eocurltloe 1/
1,063
107
24
10
3
6
5
2
2
October 1951
17
-DEBT OOTSTAKDHC.
Table 3.- Interest-Bearing Public Debt
Treasury Bulletin
18
.VEBU OtniSTAICDIIC
Table 5.- Special Issues to United States Goyenuaent Investment Accounts
(In mlXlloDB of dollare)
End of flscea
year or nonth
October 1951
19
.DEBT OOTSTAHDHG.
Table 7.- Treasury Holdings of Securities Issued by Goveminent
Corporations and Other Agencies^
20
Treasury Bulletin
DEBT OUTSTANDING.
Table 8.- Public Debt and Guaranteed Securities Outstanding by Months
(End of monUi, In nllllona of doXI^irs)
Year
Mar.
Apr.
Ma;
July
Aug.
19,612
22,610
27,189
29,123
20,611
23,051
£7,190
20,813
23,050
27,188
27,299
£5,'.21
29,1.6:?
29,631.
30,557
33,833
33,833
33,79'.
3U,1.07
36,716
37,191
20,067
23,099
27,080
29,033
33,380
37,0U5
37,593
36,875
38,393
36,956
37, 09'^
37,279
38,603
39,1.27
1.0,661
1.0,891
l.'.,137
'•1,305
Ul.,273
lil,9l^2
1.3,905
lwD,858
IJ.,073
50,921
51,3'.6
53,581.
55,0to
57,938
81,685
92,901.
96,116
166,158
215,005
265,31.2
108,170
165,877
230,630
278,115
262,277
259,11.9
258,212
252,506
256,982
257,077
256,900
252,800
257,130
256,708
Sept.
Not.
Public d«bt
1932.
1933.
17,6l5
20,802
25,068
28,U76
30,516
18,126
20,935
26,052
1937.
1938.
1939.
3'',502
37,'i53
WW.
39,631
Ii2,110
1935.
1936.
19'il.
Wiia.
28,:>26
18,507
21,362
26,158
28,017
26,118
28,668
30,520
31,'t59
3"*, 601
37,633
39,859
3U,728
37,556
39,985
''2,365
1*2,
U6,090
'•7,173
U2,658
•7,231
62,ltl9
61., 961
5U0
19't'*.
60,012
111,069
170,659
191*5.
232,lt08
62,381
11U,02U
183,107
233,707
19U6.
278,887
279,211>
233,950
276,012
259,776
26l,ltl8
259,12l>
19''8.
256,57't
19''9.
252,620
256,865
256,125
25^,605
252,721
256,368
252,990
251,6U2
1950.
1951.
255,9'tl
18,597
31,1'25
19,037
21,853
26,155
28,638
31,636
22,539
27,053
26,701
33,779
3'i,9'»l
35,213
36, '•25
37,510
37, '•22
37,165
'10,063
'•0,282
l42,8o3
1.2,968
'•7,721
U8,96l
'•3,771
'•9,513
68,571
135,913
186,366
238,832
272,583
72,1.22
77,136
136,696
201,003
258,682
ll.l,52l»
llj.,059
86,1.83
158,3'.9
208,571.
262,01.5
209,802
263,001
209, k96
262,020
269,1.22
268,270
267,51.6
265,369
165, 0U7
210, 2W.
261,817
263,532
258,286
252,292
252,770
257,357
255,222
259, U.8
260,097
259,1'.5
259,071
253,371.
253,01.9
255,852
252,687
256,680
257,216
252,1.60
253,877
256,778
256,937
21,l|l»l
115,507
129,8l»9
18'',715
18U,967
235,069
273,898
255,72'»
25l>,997
257,701
252, 2l«)
251,530
255,718
258,3'^3
252,236
251,889
256,350
255,093
19,'^87
33, 'J.'*
38,'.23
1.1,036
20,806
20, 806
23,531.
23,811.
28,1.79
1.5,025
257,5'.l
257,87'.
255,657
256,61A
681
123
l,o6i^
1,615
1,875
2,596
18
2,823
180
3,063
'•,205
l.,1.21
l.,1.60
4,1.91.
U,667
U,662
I.,
l.,6l.U
"•,61.5
'•,993
".,992
5,708
5,919
5,701.
6,32l^
6,321.
It,
Guaranteed eecurltlee 1/
1932.
1933.
1931..
2
310
3,300
3,1.30
295
3,589
325
3,660
3,728
I.,
'•,562
•,630
l.,65l.
l.,676
l*,703
1.,718
U,72U
'•,2U8
l.,669
"•,369
'.,667
1937.
1938.
1939.
l.,662
'•,662
l.,662
'•,633
U,6U6
U,61.6
1*,665
1*,853
'',633
61.6
U,66o
U,852
'•,703
I.,
U,66o
U,6U7
5,06U
5,015
5,009
"•,987
5,l»10
5,1*10
5,1*10
5, '.09
5, '.89
5,1*56
5,673
19'^1.
5,699
5,915
5,91'^
5,663
5,916
5,657
6,560
5,535
6,371
5,U50
5,529
6,370
5,'»80
19'^0.
5,526
6,939
5,813
6,937
5,808
6,937
U,63U
5,001
5,'Ae
5,810
6,938
19'^2.
5,703
5,696
5,690
5,688
l.,568
'•,581
U,265
It, 261.
'•,291
'.,275
'•,287
l.,36o
'*,37a
1.,1D0
U,]ySo
1,530
558
1,1W.
551
2,278
1,1UU
2,27U
1,155
553
5UI.
552
U76
379
3,971
1,568
5U5
uoo
l.,119
'•,233
3,791
1,565
505
333
'*,592
3,9'.l
"•,571.
19'.3.
5,687
.,091
1,669
1,171
1,563
558
386
1,533
553
370
270
77
188
182
78
178
177
75
23
20
29
83
89
57
27
20
29
1935.
1936.
igi^i*.
19'.5.
19V6.
19'^7.
19l^8.
180
79
26
21.
75
23
22
21
21
19'^9.,
36
1950.,
1951..
27
18
II
17,816
20,802
25,378
31,776
35,078
18,126
20,935
26,232
32,006
35,150
18,507
21,362
36,U3
32,328
36,101
1937.
1933.
1939.
39,161.
'•2,099
39,263
•2,279
39,390
39,601
lt2,202
1.2,157
l.l.,6l8
'•5,269
1.8,038
52,001.
't5,395
1.8,203
1*5,1*73
'*8,315
53,089
53,791
68,077
118,311
187,339
68,109
119,867
186,993
23't,851
279,761.
261,606
25U,683
21*
1.23
1,623
'•33
90
73
.
1,566
53'*
80
55
26
16
79
51
76
50
27
18
29
20
28
28
32
20,067
23,099
28,695
33,280
20,611
23,051
20,813
23,052
29, 06 It
29,78lt
33,790
38,500
1.1,678
1.2,608
lt6,38o
"19,718
52
662
5,917
301
U,230
1,511.
567
339
81
55
29
2U
30
20,806
23,552
30,122
20,806
33,382
38,500
3"., 091.
35,052
39,069
ltl,508
"t3,U02
"•1,590
•1,738
1.1,92'.
".3,1.21.
It6,311t
1.6, U81.
"•3,596
"*7,013
lt7.6"'6
U9,88l
58,283
60,522
50,192
61, 361*
61., 262
22
21.
Total Federal eecurltlea
1932.
1933.
1931*.
1935.
1936.
19ltO.
"•7,809
I9IH.
51,792
191*2.
65,715
115,360
19'^3.
^'•'•.
17it,933
ms.
233,938
19lt6.
279, '•'•5
19''7.
19lt8.
260, OW
256,651
252,656
256,892
19'«9.
1950.
1951.
256,1'^3
252,71*7
256,395
255,958
26, '•53
32, '•06
18,597
21,liJ.l
26,1^.3
19,037
21,853
26,578
32,367
36,339
19,U87
22,539
19,612
22,610
27,73''
32,a2it
38,lt97
28,2511
39,873
ltl,089
It2,017
ltl,l»19
l.2,27lt
'•5,691
U5,890
1.6,llil
''8,3'*3
Ii8,lt97
5'*, 092
55,332
1*9,297
56,1.52
33,328
38,168
1(2,255
38,01.9
57,858
70,6U9
7U,258
76,991
81,717
86,277
ll^O.OCA
llto,796
11.5,316
11*8,000
188,035
235,091.
13'*,221
187,21.1
236,221.
2ll0,003
27lt,ltlt3
273,135
202,626
259,115
269,898
210,138
262,550
268,603
211,369
263,535
276,565
259,306
253,068
251,666
257,880
252,315
251,553
255,7l«J
255,018
2511,71.8
258,376
252,366
252,798
257,377
255,251
259,528
255,71.7
258,521
252,311
251,912
256,370
255,122
260,176
253,101
255,879
257,891
256,677
Source: Dally Treasury Statement; Office of the Treasurer of the United States;
for guaranteed securities prior to July I9I.2, Stateient of Contingent Liabilities.
1/ Obligations, Issued by certain Gorenment corporations anl other agencies,
vblch are giuo-anteed by the United States as to both principal and Interest.
253, '•29
253,902
257,557
255,685
267,92't
1.9,91.7
38,"^56
23,99"^
31,5'^3
".1.,U19
50,9'«
91,057
162,321
211, 06U
262,565
265,768
2u,ao7
100,380
170,318
216,537
262,376
263,918
265,89"*
262,61*6
278,682
259,221
252,738
256,709
257,236
259,155
252,513
256,805
256,959
258,301
252,563
256,981
252,854
257,160
256,731
97,169
169,166
257, OU
257,100
112,1.71
170,108
232, IW.
259,1*87
Such obligations were 'Irst authorized In 1932. Prior to
September 1939, the figures represent principal shovn as a contingent
liability of the United States; beginning September 1939, they represent principal outstanding, both matured and unmatured. Guaranteed
securities held by the Treasury are excluded.
October 1951
21
STATUTORY DEBT LIMITATION
The Second Liberty Bond Act, as amended,
(
Jl U.3.C.
757 b), provldee that the face amount of obligations Issued
and the face amount of
under authority of that act,
obligations guaranteed as to principal and Interest by
the United States (except guaranteed obligations held by
the Secretary of the Treasury), shall not exceed in the
aggregate $275 billion outstanding at any
Obligations Issued on a discount basis, and
redemption prior to maturity at the option of
are Included In the statutory debt limitation
one
time.
subject to
the owner,
at current
redemption values.
Table I.- Status under Limitation, August 31, 1051
(In Billllane of dollars)
M&zljmm anount of aecurltlos vlilch may ba outetasdlne at aay ooa tlna, uoder llnltatlona Ijapoead by tha act
of Jma 26, 19lt6 Gl U.S.C. 757 b)
275,000
Amount of eecurltlae outatandlng eubjaot to euch etatutor? debt llnitatloivi
U. S.
Goremmant eacurltlae leeuod undar
255,969
tha Sacond Llbarty Bond Act, aa aaandad
32
Guarantaad eacurltlae (axcludlng thoee hald by tha 'iTaaaurr)
Tot&l amount of eacurltlae outetandlng eubjact to etatutory debt llAitatlon
•
18,999
Balance leeuabla under limitation
Source:
256,001
Bureau of tha Publlo Debt,
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding August 31, 1051
(
Clasa of eecurltj
In mlUlona of dollars
2?
Treasurij Bulletin
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding August 31, 1951
^
October 1951
23
DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding August 31, 1051^(Contlnuedl
24
Treasury Bulletin
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
October 1951
25
DEBT 0PERATI0K3.
Table 3.- Offerings of Marketable leeuee of Treasury Bonds, Notes,
and Certificates of Indebtedness
Date
Treasury Bulletin
26
DEBT 0PERATI0M3.
Table 4.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States Government
Date of
refundlil*
or retire-
ment
Octobcv 1951
27
.IMITED STATES SAVIBGS BONDS.
United States aavlnge bonds were first offered for
sale in March 1935 and began to mature in March igl^SSeries A-D were sold from March 1935 to April igl+l and
Series A-F sales are shown at Issue price and
total redemptions and amounts outstanding at current
have been on sale since May 1, 19'4-1.
Beginning in May 1951, holders of maturing Series E bonds
to redeem them In cash, to retain
have three options:
throughout.
Serlee
E,
F,
and
them with an extended maturity of 10 years at specified
rates of Interest accrual, or to exchange them for Serlee
Further Information on these options will be found
bonds.
Series
Is shown at face value
Matured bonds which have been redeeiued are
Included In redemptions. Matured bonds outstanding of
redemption
values.
Series A-D were Included in the Interest-bearing debt
until all bonds of the series matured, when they were
transferred to matured debt upon which interest has
In the "Treasury Bulletin' leaue for April 195I, page A-1,
and Inforaiatlon on the terme and conditions of the various
Savings bonds data by denominations and the
amounts of sales by States are published on a monthly
basis but do not appear In each Issue of the "Treasury
series of savings bonds appears In the annual reports of
Bulletin".
ceased.
the Secretary of the Treasury.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through August 31, 1051
(Dollar amoujlta In ml 1 llopfl)
Sorleb
..
,
Treasury Bulletin
28
.UHXEED STATES SAVIUGS BOHDS.
Table 3.- Sales and (tedemptlons of Series A-D, E, F, and G by Periods
(In mlllionfl of dollarB)
Sales k/
Accrued
discount
Redemptions 2/
Sales plus
accrued
discount
Sales
price
^
AiDOunt outstanding
Accrxied
discount
Matured debt
(Series A-D)
Interestbearing debt
Fiscal years:
1935-191*3....
19W*
3,91*9
191*5
191*6
338
96
1*,287
103
106
103
191*7
19'*8
107
191*9
101
68
25
uo
1950
1951
96
106
107
110
101
68
25
679
79
25
8
25
67
651*
72
11*3
117
309
21*2
1*82
370
393
530
812
601
516
703
l,03l
800
113
123
172
269
200
18
1*0
59
73
92
3,608
3,625
3,585
3,365
2,968
2,51*3
1,927
895
212
Calendar years:
1935-1*3
1*,335
191*9
386
100
105
107
109
108
86
1950
1*5
1*5
3,91*9
19W*
100
105
107
109
108
718
78
226
390
29
690
70
179
302
367
3,616
3,638
8
1*7
1*1
87
111*
87
122
3,1*77
3,11*8
2,71*2
139
207
255
11*6
2,250
631
768
203
229
1,1*1*0
30
21
29
171*
36I*
375
U5
90
6U
86
257
97
51
38
17
17
Hoy
June ....
69
51
23
286
235
212
July
17
13
10
191*5
191*6
191*7
191*8
1*81
576
838
1,023
1*36
1*37
Months:
1951-January.
February
March.
.
AprU...
August .
13
.
6
lOlt
m
:
Series E, F, and G
Fiscal years;
191*1
anl 191*2
191*3
6,658
11,789
I9W*
15,1*98
191*5
191*6
lit,
191*7
191*8
891
9,612
7,208
6,235
191*9
7,11*1
1950
1951
5,673
5,11*3
2
36
127
281*
1*67
583
69U
826
977
1,125
6,659
11,821*
15,625
15,175
10,078
7,791
6,929
7,967
6,650
6,268
75
760
75
760
2,292
4,156
6,408
5,063
4,597
4,365
4,342
5,337
2,286
4,134
6,337
4,954
4,453
4,191
4,133
5,009
259
1,504
3,263
5,332
6,038
4,645
4,568
4,263
4,817
259
1,502
3,251
5,293
5,941
4,522
4,404
4,077
4,555
505
420
413
1
6
21
71
109
144
174
209
328
6,584
17,648
30,981
42,000
45,670
48,398
50,730
54,333
56,641
57,572
Calendar years:
191*1
and
191*2
11,691*
12
11,706
191*3
13,729
71*
13,801*
191*4
16,01*1*
191*5
191*6
12,937
195
379
7,1*27
6,691*
533
633
16,239
13,315
7,961
7,327
8,059
6,729
7,133
191*7
191*8
191*9
7,295
5,833
1950
6,071*
896
1,058
1951-January.
February
March,.
1*75
117
592
386
80
1*67
533
443
.
51/9
87
1*46
445
April...
May
June ....
310
296
290
79
86
128
382
Ul8
427
453
July
August.
311
120
Be
1.31
465
311*
396
1*21.
761*
2
12
39
97
123
164
186
262
11,447
23,746
36,723
44,706
46,628
49,311
52,801
55,267
57,553
Months:
Footnotes at eni of table.
403
(Continued on folloving page)
37U
394
28
23
32
30
57,642
57.665
57,667
1*22
33
31
57,652
57,607
57,572
431 P
388 p
34 p
36 p
57,538
57,509
October 1951
29
.UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods - (Continued)
(Dollar BQOunte in mllllona)
Sales 1/
Accrued
diecount
Salea
plus
accrued
discount
Redemptions 2/ 3/
Sales
price
Accrued
diecount
AoDunt
outs tending
( in teres tbearlne debt)
Percent of monthly
redesnptlona
to amount
outstanding
Fiscal yearo:
I9IH and 191*2
1
33
3,731
118
265
11,938
11,818
7,173
W^S
I9W
3,729
8,271
11,820
11,553
6,739
191*7
191*8
1*,287
l*,026
19'*9
1*,278
1950
1951
3,993
3,272
1,035
19't3
19W4
1*31*
536
633
753
895
8,301*
60
689
2,100
3,81*6
60
5,912
5,81*3
821*
l*,391
l*,659
3,825
3,530
3,521
U,288
3,689
3,368
3,326
3,987
I*,
5,032
l*,887
l*,307
l*,295
3,671
688
2,095
3,825
U,287
1
5
20
69
103
136
162
195
21,125
29,097
30,358
30,791
31,625
33,127
307
3l*,506
31*, 1*91*
Calendar years:
191*1
and 191*2
7,131*
10
7,ll*l*
191*3
10,31*1*
12,380
9,822
70
182
353
10,1*11*
191*1*
1*,U6(3
191*5
101*6
191*7
191*8
U,o85
191*9
U,208
3,668
l*,22l*
1950
Months
1951 -January.
February,
March. . .
April
May
June
31*3
272
280
25I1
,
July
August.
.
,
12,562
10,175
220
1,380
3,005
U,963
220
1,378
2,993
1*93
li,959
5,1*23
579
696
818
971
l*,66l*
1*,920
3,930
3,728
5,330
3,813
3,575
5,025
3,1*1*8
3,271*
I7I*
6,923
15,957
25,515
30,727
30,263
30,997
32,188
33,766
1*,639
3,912
3,667
2U5
3l*,l'93
105
75
81
1*1*8
1*1*8
1*22
26
31*,1'93
3U8
361
362
31*0
31*3
311*
22
29
3U,1*78
34,1*96
1.30
1.05
1.00
73
80
296
308
312
26
3l',l'99
.91*
31
29
3l*,l*86
34,506
.98
.99
34, 531*
553
.91*
117
327
327
361
321*
2l*i*
258
267
108
366
338
77
31*1*
321*
2
502
760
811
58
21*7
339 5/
31*1
2
11
38
93
116
l.,925
151*
307 P
291, P
31
:
31*]
31*,
.98
Fiscal years:
191*1
and
191*2
191*3
191*1*
19'>5
191*6
191*7
191*8
191*9
1950
1951
502
758
802
679
407
360
301
473
231
347
9
19
33
47
61
73
83
90
698
440
407
362
545
314
437
3
3
17
17
57
88
147
197
198
204
185
227
89
149
203
206
216
199
248
1
3
6
9
12
14
21
499
1,242
1,996
2,604
2,895
3,099
3,255
3,584
3,699
3,889
Calendar years:
191*1
and 191*2
191*3
191*4
1945
1946
1947
1948
1949
1950
Months:
1951-January..
February.
March...,
April...,
May
June
July
August.
.
Footnotes at end of table.
860
745
773
595
325
342
498
233
417
18
17
12
2
4
13
25
861
750
786
621
365
396
566
854
503
7
35
77
106
189
203
222
202
223
12
5
6
30
22
18
20
26
24
3,906
3,909
3,901
.50
.50
.67
6
6
11
15
14
19
18
20
22
16
19
20
3,898
3,692
3,889
.45
.52
.55
12
20
5
14
37
25
34
23
40
54
67
78
87
3U
19
7
35
77
104
1
1
4
185
196
211
189
206
7
11
12
17
18
18
1,569
2,278
2,793
2,969
3,162
3,505
3,615
3,895
.96
]
1
(Continued on foULoving page)
I'M
.64
)
,
Treasury Bulletin
30
.UNITED
ST;ffiES
SAVINGS BONDS.
Table 3.- Sales and Redemptions of Series A-D, E, F, and G by Periods
(Continued)
(Dollar aaoiurta In ml 1 1 lona
Period
Accrued
discount
Sales 1/
Sales
plus
accrued
dlBCOunt
Redeanptlons 2/
Sales
price
Accrued
discount
Amount
outstandlDg
( interestbearing debt)
Percent of monthly
redemptions
to amount
outstanding
Fiscal years:
1941 and
19lf2.
19l'3
19Wi
19'*5
,
igltfi
igitT
19't8
igitg
,
1950
1951
-
2,1(27
2,1*27
2,759
2,876
2,658
2,U65
2,561
1,907
2,390
2,759
2,876
2,658
1,1*1*9
1,523
12
55
12
55
131*
131*
220
220
3U8
2,1*65
31*8
2,561
1,907
2,390
1,1*1*9
U69
566
619
621
1,523
791*
31
89
181
26U
U26
512
2,1*11*
5,119
7,861
10,299
12,1*16
508
15,850
17,621
1*69
11*,
566
619
621
794
19,177
18,1*1*8
Calendar years:
19l»l
im
and 19U2,
,
19Wt
,
19't5
191*6
,
W"*?
191*8
191*9
1950
,
3,701
3,701
2,61*0
2,61*0
2,891
2,520
2,637
2,267
2,573
1,392
1,990
2,891
2,520
2,637
2,267
2,573
1,392
1,990
115
97
67
31
89
181
3,669
6,221
8,931
261*
U,l86
1*26
13,397
15,152
17,108
17,887
613
682
512
618
613
682
115
97
67
66
62
75
66
62
75
19,21*3
.3"*
19,278
19,270
.32
.39
1*7
61
67
90
61
67
90
19,256
19,229
19,177
.32
.35
89
75
89
75
19,132
19,095
."7
.39
618
19,191*
Months:
1951 -January,
February,
March....
April
May
June. .
1*7
.
.
July
August..,
,
1*15/
38
Ul
38
1*5
1*5
38
38
Source: Dally Treaaury Statement; Office of the Treasurer of the U. S.
1/ Beginning with June 19l*7, Series E sales include unclaasifled sales
consisting of Series E, F, and G, The emounts are substantially less
than the sales reported as unclassified in the Daily Treasury Statement.
The greater part of that item conslata of sales for which Infonaatlon
is arallable as to the series but not 'the year of Issue. On the basis
of that information such sales are included in this table according to
eeries. Prior to June 19l*7, it was possible to distribute by aeries
all sales reported as unclassified In the Daily Treasury Statement.
2/
I
.1*7
Series E redonptions Include unclassified Series A-D redemptions beginning with October 191*1*, and also unclassified F and G redeDptions,
beginning with June 191*7.
Includes both matured and unmatured bonds; see Table 1*.
Sales of Series A-D after April 30, I9U1, represent adjustaaents.
Beginning May 1951, includes exchanges of matured Series E bonds for
Series G bonds as shown in Table 1*.
Less than $500,000.
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In millions of dollars)
Unmatured bonds 3/
Matured bonds 2/
Period 1/
1950 Calendar year.
1951 Fiscal year ...
1951- January
February
March
April
May
June
July
August
Total
matured
5,81.0
987
Series
A-D
For
cash
In exchange
for Series G
987
Total
unmatured
Sales
price
1*,853
l*,583
270
321*
29
23
32
30
29
25
6,137
817
779
5,320
l*,996
653
528
560
111*
111*
539
510
87
115
87
1*1*1
1*19
115
1*1*5
1*13
1*72
68
65
1*03
371*
U78
1*76
1.8
51
23
uas
1*9
17
1*37
53
13
38
37
68
Source: Dally Treasury Statement.
1/ Brealcdown of redemptions between matured and unmatured bonds not available
prior to January 1950,
2/ Of the total amount of redeonptions, 75^ reproeenta issue price and
Accrued
discount
ll»
11*
1*13
381*
25
21*
U2e
1*03
31
39
1*33
1*07
381*
356
26
26
25^ accrued discount.
Includes redemptions not yet classified; see Table 3, footnote 2.
Less than $500,000.
October 1951
31
TREASURY aAVINOS NOTES,
Treasury tax and savings notes have been Issued In
Tax Series A from August 1, 194l, through
June 22, igl^J; Tax Series B from August 1, 19'H, through
September 12, 19'+2; Savings Series C (originally designated
five series:
through August 31, 19'*8;
3avlr«s Series D from September 1,19US, through May 1^, 1951;
Tax Series C) from September
ll)-,
191(2,
and Savings Series A beginning on May 15,
Detail* ooncemlng terms and conditions for purchase
page A-1.
Similar information with respect to Savings SerlesD
igW and
Series A and
September 19^9 Issues,
and with respect to Savings Series C In the October 191+5
B,
Treasury" for
see 'Annual Report of the Secretary of the
191(^2,
pages 207 ^^^ ^^0>
^^
foi*
sales and
redemptions by fiscal years and months, see "Treasury
Bulletin" for February 19l(6, pages 42 and 1+3.
In the following tables sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes redeemed (either for cash or for tax payment ) are
Included In the figures on redemptions. Matured notes
outstanding are reflected In the Interest-bearing debt
until all notes of the series have matured, when they are
transferred to matured debt upon
trtiloh
Interest has ceased.
Table 1.- Summary of Sales and Redemptions by Series, Cumulative through August 31, 1051
(In millions of dollcrs)
Series
Invest-
and tax payment or redemption values of
1951-
and redemption and Inveetment yields of Savings Series A
appear In the June 1951 Issue of the "Treasury Bulletin",
will be found In the October
lesue. Tor details concerning terms and conditions,
ment yields,
Treasury Bulletin
32
OWNERSHIP OF FEDERAL SECURITIES,
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In mlllloDS of dollaro)
October 1951
33
OWNERSHIP OF FEDERAL SECURITIES
Table 3.- Estimated Ownership of Federal Securities
(Par values 1/
Total
Federal
securities
End of
month
-
in billions of dollars)
Held by banks
Cammorclal
outstaiidIng 2/
banlcB
Held by private nonbank investors
U, S,
Federal
Reserve
Banks
Gov eminent
Individuals 5/
accounts kj
Savings
bonds
1939-December.
1*7.6
18,1.
15.9
2.5
6.5
22.7
19Uo-Juno
December.
l*e.5
18.6
19.5
16.1
17.3
2.5
2.2
7.1
7.6
22,8
23,9
21.8
23.7
19.7
21.1*
2.2
2.3
8.5
9.5
77,0
112,5
28.7
26.0
1*7.3
1.1.1
2.6
6.2
11*0,8
59.1*
71.5
52.2
59.9
7.2
170,1
n.5
202.6
232.1
83.3
68.1*
11*
96.5
77.7
259.1
278.7
106,0
81*
U5,0
90.8
279.8
269.9
259.5
116,7
108,2
97.9
93.8
258.1*
50.9
191*1- June
55.3
December.
61*.
191*2 -June
December.
19l*3-June
December.
191*1* -June
December.
19l*5-June
December.
19l*6-February (Peaic)
June
December.
. .
19l*7-June
December.
257.0
igltS-Mareh
253.1
June
September.
December.
19119-Maroh
252,1*
252,7
252,9
Inaurance
conpanlee
Investznent
Mutual
savings
banks
Corporations 6/
State and Miscellocal
laneous
govemInvestors
mentfl 2/ uys/
1.9
8.2
6.3
3.1
10.1
10.6
2.6
2.8
7.5
7.9
6.5
6.9
3.1
3.2
2.1
2.0
.5
25.0
31.0
11.2
13.6
3.6
7.6
8.2
7.1
8.2
3.1.
2.0
.6
3.7
1*.0
.7
10,6
12,2
37.7
53.0
17.8
23.7
9.1
8.7
1*.9
.9
10.3
9.2
11.3
3.9
13.1.
1*.5
10.1
1.0
11*,
67.0
81.7
30.9
37.6
19.2
13.1
15.1
12.9
6.1
16.1*
1.5
2.1
3.'.
21..
11.7
12.9
5.3
16,9
100.2
U1..0
U6.0
52.9
17.3
3.2
6,1*
16.7
19.6
7.3
8.3
20.0
18.8
19,1
21.7
ll*.8
21.1.
1..3
7,1.
21.8
21*.
27.0
128.2
136.6
58.9
63.9
9.6
10.7
22.9
22.0
5.3
21*.
6.5
8.9
9.5
8U,U
74,5
22.9
23,8
23,3
28.0
29.1
30.9
135.1
132.6
130.7
63.9
63,2
11.1
11,5
11,8
19.9
17.7
15.3
6.7
6.5
9.1
6.8
6.3
8.3
91.9
91.3
70.0
68,7
21.9
22.6
32.8
66,2
65.5
13.9
3'..'.
133.7
131.3
7.1
7.3
9.8
8,6
86.0
85.9
85.S
85.8
65,1
20.9
61.
.6
21.1*
62,!*
23.1*
62,5
23.3
35.0
35,8
36,3
37,3
132.1
130.7
130.1
129.7
7.8
7.3
7.8
7.9
8.9
9.1
3.9
9.3
60.5
63.0
66,5
66.8
21.7
37.7
38.3
7.9
8.0
8.0
8.0
9.6
10,0
9.9
17.8
17.7
17.6
38,1.
8.0
8.0
9.5
10.0
10.5
.2
.9
5.1*
31.2
36.2
.7
,7
,7
,9
1.1
2.3
1*,1*
18.3
22.7
21.0
21*
.0
20.6
19.8
19.9
21*
.1.
2l*.9
1.5.5
1.6.2
20.7
21*
19.3
23.9
65.lt
1*6.9
18.1*
23.1*
65.;
65.
65.6
1*7.1
1*7.6
18.1*
22.3
12.1
12.0
18.2
17.6
22.0
21.2
U.7
13.5
13.9
11.5
11.
131.8
132.2
132.8
132.1
66.5
66.9
67,1
66,5
1*8.5
18.0
18.1
18.0
17.2
21.1
20.5
20.2
20.1
11.6
11.6
11.6
15.1
15.1
16.0
11.1*
16.3
66.7
67.0
66.9
U9.1*
1.9.7
17.3
17.3
17.2
20.2
20.2
20.2
11.5
11.5
11.6
16.8
37.6
132.7
133.9
135.6
20.1
20.0
19.8
11.6
11.6
11.6
17.7
18.1
18.3
8.1.
11.5
8.3
8.3
8.2
10.9
10.8
10.7
61.,1
U7.3
2U.9
.6
12,1
12,0
11..1
11..6
.3
251.
252.
256.
82.2
257.2
85.7
256.9
85.3
256.1*
a.
67.1.
66.1.
255.7
82.5
61*,9
April.
May...
June..
255.7
83.0
83.2
83.9
65.2
65.8
65.6
17.8
37.3
135.1*
17.1*
37.1.
1.9.8
1.9.8
17.3
17.5
18.3
37.3
135.9
135.6
67.1
67.3
257,1*
67.5
1.9.9
17.7
July
August. ..
September.
257.6
257.9
257.2
82.6
as.u
81.S
61.,6
18.0
6U,1
62,2
18.1*
38.0
3B.I
38.9
137.0
137.3
136.6
67.5
67.6
67.6
1*9.9
1.9.8
17.9
18.0
17.9
19.8
19.6
19.1*
11.2
18.8
19.5
19.5
October,
November
December.
257,0
257,1
256,7
81.1*
62,2
61.5
61.8
19.3
136.5
136.8
67.5
67.6
67.0
1.9.6
19.7
20.8
39.0
39.2
39.2
17.9
18.0
17.5
19.1
18.9
18.6
11,1
10.9
10,9
19.9
20.2
19.9
8.1
8.1
7.8
10.7
11.1
10.7
1951-January..
February,
March....
256.1
256.0
255.0
81.1*
21.5
21.9
22.9
39.6
39.7
39.8
135.2
66.7
66.6
66.2
1.9.5
U9.I.
17.3
17.2
16.9
18.5
18.3
17.9
10.8
10.7
10.5
20.3
20.8
7.8
7.9
11.0
80.3
80,8
59.9
58.9
57.9
21.3
7.9
10.8
AprU..
251*.
53.5
57.9
58.5
22.7
22.5
23.0
21.2
131..3
1.1,0
132.8
1*9.1
1*9.0
16.8
16.8
16.8
10.1*
1«),3
66.0
65.9
65.8
17,1*
255.1
255.3
81.3
80.5
81.5
1*9.2
May,,.,
June •
17.3
17.0
10.3
10.2
21.8
20.9
7.9
8.0
8.0
10.6
11.0
10.9
July p.
255.7
Si,
5S.9
23.1
1.1.0
132.7
65.3
1*9.0
15.8
16,9
10.2
21.0
8.0
10.9
June
September.
December.
1950 -January..
February.
I-larch.
1/
2/
i/
1*/
^
. ,
256,1*
82,1*
81t.5
81.2
82.6
19.3
18.0
18.9
19.6
39.1.
39.1.
39,0
39.9
131..
135.1.
13l*.l.
133.6
United States savings bonds. Series A-F, are Included at current
redemption values
Securities Issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury.
Consists of commercial banks, trust companies, and stock savings banks
In the United States and In Territories and Island possessions.
Figures exclude securities held In trust departanants
Holdings by Federal land banks are Included under "Miscellaneous
investors" Inatead of "U. S, Government investanent accounts" beginning
with June 30, 191*7, since the proprietary Interest of the United States
In these banks ended June 26, 191*7,
Includes partnershlpo and personal tarust accounts. Nonprofit Institutions and corporate pension trust funds are included under "Miscellaneous
Investors"
.
U8.8
1*9.1
1.9.3
U9.6
1*9.7
1.9.6
U9.6
1*9.3
Illusive of banks
11.1*
17.2
15.1
3.1.
9.8
8.3
8.2
U.l
wtvi insurance ccnpanles.
Consists of trust, sinking, and Investanent funds of State and local
governments aui their agencies, and Territories and Island possessions.
Includes savings and loan associations, nonprofit institutions,
corporate pension trust funds, dealers and brokers, and investaaents
of foreign balances and International acco'jnts in this country. Beginning vlth December 191*6, includes Inveetaaonts by the International
Bank for Reconstruction end Developaent and the International Monetary
Fund in special nonlntereet-bearlng notee Issued by the U. S. Government.
Prelljalnary.
-
Treasury Bulletin
3"+
.TREASURT SDHVET OF OWNERSHIP, JULY 31, 1951.
The TreaBury Survey of Ovmerahlp covers securities
Issued by the United States Oovernment and by Federal
agencies. The banks and Insurance companies Included
In the Survey account for approximately 95 percent of
such securities held by all banks and Insurance companies
Data were first published for
In the United States.
March
31,
191*1,
In the May I9U1
Section
I
-
Additional information showing the holdings of commercial
banks distributed according to Federal Reserve member
classes and nonmember banks is published for June 30
btuik
and December
'}!.
"Treasury Bulletin".
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par valxies
ClaBSifioatlon
Information on the distribution of ownership by types
of banks and Insurance companies is published each month.
-
In mllllona of dollara)
October 1951
35
.TREASURY SURVEY OF OWNERSHIP, JULY 31, 1951.
Section I - SecurltiOB Issued or Guaranteed by the United States Government
Table 3. - Interest-Bearing Public Marketable Securities by Issues
(Par valuee
Issue
(Tai status 8/ la shown In parentheses)
-
in mlllione of dollars)
Treasury Bulletin
36
.TREASURY SURVEY OF OWSERSHIP, JULY 31, 1951.
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par values
Issue
(Tax etatua 8/ la shown in parentheses)
-
In ml 11 ^rmn of dollars)
-
(Continued)
October 1951
37
.TREASUKy SURVEY OF OWNERSHIP, JULY 31, 1951.
Section
II
-
Interest-Bearing Securities Issued by Federal Agencies but
not Guaranteed by the United States Government
(Par value
Issue
(Tax status 8/ Is shown in parentheses)
-
In millions of dollarB)
Treasury Bulletin
38
.MAJKET QtX)TATIONS, AtCOST 31, 1951-
Current market quotations ehovm here are over-the-
counter closing quotations In the New York market for
the last trading day of the month, as reported to the
Treasury by the Federal Reserve Bank of New York.
The
securities listed In Section I Include all public
marketable securities Issued or guaranteed by the
United States Government except those not regularly
The Issues excluded are postal
savings bonds and Federal Housing Administration
quoted In the market.
Section
I
-
debentures.
The latter are the only public marketable
Interest-bearing guaranteed securities outstanding.
Section II lists the public marketable securities
Issued by Federal agencies but not guaranteed by the
United States Government. Dally quotations for the
securities listed In Sections I and II are published
monthly In the Treasury Department statement, "Prices
and Yields of Public Marketable Securities Issued by
the United States Government and by Federal agencies".
Securities Issued or Guaranteed by the United States Government
Table 1.- Treasury Bills (Taxable)
Amount
outstanding
(MllllonB)
October 1951
39
.MAKKET QTJOTATIONS, AUGUST 31, 1951-
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 3.- Other Taxable Issues (Continued)
Treasury Bulletin
1^0
.MAPKKT QTXITATIOHS, AUGIBT 31, 1951.
Section II - Securities Issued by Federal Agencies but not Guaranteed by the United States Government
Table 2.- Other Issues (Taxable)
(Price decijnalB are 32ndQ)
Amount
outstanding
(Millions)
41
October 1951
.MARKET QUOTATIOHS, AlCOST 31, 1951.
YIELDS OF TREASURY SECURITIES, AUG.
Based on Mean
53
55
57
59
of Closing Bid
61
31.
1951
and Ask Quotations
'63
65
•67
•69
PERCENT
2.60
2.40
—
—
PERCENT
^2.60
Taxable Issues
— 2.40
2.20
— 2.20
2.00
2.00
1.80
1.80
1.60
1.60
1.40-
1.40
1.20
1.20
1.00
1.00
BANK ELIGIBLE
.80
*
Fixed maturity issues
•
Cottoble bonds
.80
BANK RESTRICTED
X Callable bands
.60
.60
.40
.40
.20
.20
1.60
Partially
Tax-Exempt Bonds
1.40
1.60
1.40
1.20
1.00
Explanation: TIte points represent yields to coll when prices ore above par. and to maturity dote when prices are at par or below.
The smooth curves tor the various classes of points ore fitted by eye. Issues for which on exchange offer has been
mode or which are due or callable in less than 3 months ore excluded
Office of the Secretory of lh« Treosury, office of tf^ Technicol Stoff
Treasury Bulletin
k2
YIELDS OF TREASURY AND CORPORATE BONDS.
Table 1.- Average Yields of Long-Term Bonds by Periods
^3
October 1951
.YIELDS OF TREASUPY AND CORPORATE BONDS.
^
O)
o
o
ffi
UJ
q:
o
£L
QC
o
o
o
z
<
>(£
^
UJ
tr en
c
o
UJ
H
I
o
(/)
o
-J
UJ
>UJ
o
<
q:
UJ
111
Treasury Bulletin
M^
INTERNAL REVENUE COLLECTIONS.
Table
1.
-
Sunmary by Principal Sources
(In thouaanda of dollara)
Fiscal year
or month
-1/
October 1951
>*5
INTERNAL REVENUE COLLECTIONS
,
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Manufacturers' ond Retailers'
Excise Taxes
)
Treasury Bulletin
1+6
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax i/
^In thousands of dollars)
Fiscal year
First month of fiscal year
Type of tax
19^9
Corporation income and excess profits taxes 2/
TnrilTldual iDccme tax and anploynent taxes
1950
1951
(July 1950)
1951
1952
(July 1951)
1*13, 2Ul
596,232
9,907,539
228,208
321,130
51*6,036
15,900,519
579,778
854,911
1,331
1,158,427
1,094
ia,305,387
12,310,1*15
16,1*80,297
856,21*2
1,159,521
226,228
223,135
236,952
3,078
2,716
20,527,935
19,797,683
26, 621*, 768
1,087,528
1,483,367
6,138
266
735,761
657,1*1*1
638,523
l'l*,035
55,037
60,757
1*6,765
91,207
1,099
997
121,773
1,276,175
33,793
126,31(4
1,295,51*9
172,362
15,1*21
1,571*, 1*72
38,053
3,738
63,516
134,697
2,827
186
4,298
13,071
81,393
30,069
2, 600
70,001
9,860
9,161
3,917
9
4
69,213
11,553,669
10,851*, 351
ll*,3S7,569
7,996,320
7,261*,332
11,71*2,653
562,73't
11,762,377
:
Inccoue tax not withheld
•.•.•...•.•
Withheld taxes:
Income and old-age Insurance 3/* ••••>•<>><•>•<••>•.>.
Railroad retirement
•
•
Total withheld taxes
Unamploymant insurance. ....................................
Total Individual income tax and employment taxes
MlacellaneouB Internal revenue:
Capitol stock tax k/
Estate tax
Gift tax
Liquor taxes:
Distilled spirits (imported, excise)
Distilled splrlte (domestic, excise)
Distilled spirits, rectification tax
Wines, copdlolB, etc. (imported, excise)
Wines, cordials, etc. (domestic, excise)
Dealers in distilled spirits; rectifiers;
of stills ( special taxes )
Stamps for distilled splrlte intended for
Case stamps for distilled spirits bottled
Container stamps
Floor taxes
Fermented malt liquors
Brewers; dealers in malt liquors (special
2,1*48
63,33'»
1,9U
203
3,862
manufacturers
9,973
6
375
export
in bond
Total liquor taxes
Tobacco taxes:
Cigars (large)
Cigars (small)
Cigarettes (large)
Cigarettes ( a^«Ti )
Snuff
Tobacco ( chewing and smoking
Cigarette papers and tubes
Leaf dealer penalties, etc
C igarette and c Igar floor taxes
4,294
2
780
20
686,368
k.kjo
667,1*11
781*
1*,1(62
1,849
70,532
1,965
2,210,601
2,219,196
2,51*6,807
234,042
178,068
1*5,530
1*2,102
3,163
58
4
3
1,232,728
7,272
1,21*2,81*5
35,1*35
7,389
35,070
220
56
7
1,293,966
7,235
33,870
3,000
59
7
8*1
98I.
1,01*1
U,907
taxes)
*
107
1,523
12
1,090
11*, 921
12
665,009
738
11,825
5
I*,
6
1*1*,
53
1
«
1
97,751
436
2,481
57
105,887
726
2,119
102
1
1_
Total tobacco taxes
1,321,875
1,328,1*61*
1,380,396
103,728
112,001
1*6,667
17,910
50,156
23,823
7,561*
10,51*6
4,139
2,277
435
687
123
56,105
28,679
8,222
100
4,876
1,660
3U3
22
93,107
6,852
Stamp taxes:
Issues of capital stock, deeds of
conveyance etc
Transfers of capital stock and similar interest sales..
Playing cards
Silver bullion sales or transfers
Bonds,
,
Total stamp taxes
Footnotes at and of table.
,
,
72,826
(Continued on following page)
2_
6,901
October 1951
^7
INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax^- (Continued)
(In tbousandB of dollars)
First month of fiscal yoor
Fiscal year
Typo of tax
1951
(July 1950)
1951
1950
1949
1952
(July 1951)
Miacellajieous Internal revenue (continued):
Manufacturers' excise taxes:
Lubricating oils
Gasoline
Tires and tubes
Automobile trucks and buses
Other automobiles and motorcycles
Parts and accessories for automobiles
Electrical energy
Electric, gas, and oil appliances
Electric light bulbs and tubes
Radio sets, phonographs, components, etc,
Phonograph records
Musical instruments
Mechanical refrigerators, alr-conditlonere, etc, 6/
Matches
Business and store machines
Photographic apparatus
Sporting goods
Firearms, shells, and cartridges
Pistols and revolvers
^
Total manufacturers * excise taxes
,
Retailers * excise taxes
Furs
Jewelry
Luggage
Toilet preparations
Total retailers * exc ise taxes
Miscellaneous taxes;
Sugar Act of 1937
Telephone, telegraph, radio, and cable facilities
Local telephone service
Transportation of oil by pipe line
Transportation of persons , etc
Transportation of property
•,*
Leases of safe-deposit boxes
•**
Admissions to theaters, concerts, etc
etc
Admissions to cabarets, roof gardens,
Club dues and initiation fees
Bovling alleys, pool tables, etc
Coin operated devices
Adulterated and process or renovated butter, and
filled cheese
Oleomargarine, including special taxes 2/
Narcotics, inclxiding marihuana and special taxes
Coconut and other vegetable oils processed
National Firearms Act
All other, including repealed taxes not shown separately
Total miscellaneous taxes
Total miscellaneous internal revenue
Total internal revenue collections
Ad Juflt3i»nt to Dally Treasury Statement
Total receipts
fl-coa
internal revenue (Dally Treasury Statement),
Bl,760
77,610
526,732
151,795
123,630
503,61*7
150,899
136,797
332,812
120,138
1*52,066
88,733
79,3't7
85,701*
80,1*06
97,238
6,097
5,83U
569,01*8
1*6,576
1*7,769
198,383
121,285
653,363
19,212
9,U68
17,861
10,281
52,669
10,776
8,355
9,061
119,1*75
93,181*
121,996
80,935
26,172
20,726
30,281*
119,160
1*2,085
6,1*83
5,769
8,865
61*, 316
8,875
30,012
39,931
18,969
9,351
128,187
7,007
10,756
96,319
10,169
9,293
77,833
8,738
33,3't^
1*3,11*0
19,81*6
10,379
810
1,771,533
56,1*05
8,951*
7,21*5
7,273
131
3,962
897
588
8,1*76
2,391*
5,860
705
61*9
6,666
637
3,956
1*6,020
650
3,296
3,029
17,862
1,381*
17,61*6
1,11*9
i*8l
762
20
1,872
1,075
112
1,836,053
2,383,677
18I*,812
190^991*
l*l»,l*91
l*,l*6l
61,91*6
1*5,781
57,601*
1,271
210,688
82,607
93,969
190,820
77,532
11*, 291
9l*,995
210,239
82,831
106,339
6,228
7,975
1,627
16,856
7,372
8,901
1*1*9,211
1*09,128
1*57,013
29,765
34,755
80,192
354,660
290,320
6,327
31,236
25,900
1,709
311,380
71,188
332,339
22l*,531
21*7,281
19,325
251,389
337,030
18,919
228,738
321,193
9,1*61
385,81*3
1*8,857
9,551*
9,569
71*0
371,21*1*
31*6,1*92
29,397
1*1,1*53
1*2,61*6
28,71*0
30,120
3,610
20,731
3,091*
2,1*13
76,171*
27,790
3,805
21,088
3,608
20,171*
2lt,9l*6
10,618
1*2,377
28,352
2,131*
237,617
18,51*5
22,51*7
381,31*2
29,116
35,134
1,069
28,756
3,698
2,867
1,277
6,136
1,259
6,505
21
12
17,51*1
17,1*60
29,297
867
15,857
11
273
7
11
35
866
19,088
9
1*
3
1*37
31*7
32
28
1,752,792
1,720,908
1,81*2,598
158,396
186,526
765,280
815
10
155
1,1*52
1
176
1,352
8,381,515
8,301*, 89a
9,1*33,328
762,730
1*0,1*63,119
38,957,126
50,1*1*5,686
2,263,1*99
2,844,879
-155,83U
+1*91,1*82
+660,1*09
-29l*,337
-236,788
1*0,307,285
39,1*1*8,607
51,106,095
1,969,162
2,608,091
Source: Dally Treasury Statement for total receipts from internal revenue;
reports by collectors of Internal revenue for collections by type of
tax. Detail by type of tax is available only on a collection basis.
Receipts on the Dally Treasury Statement basis are compiled from the
latest dally reports from Government depositaries; they do not coincide
with amounts reported by collectors because of the lag in deposits of
collections and because certain taxes are paid directly into the
depositaries.
1/ Excludes collections for credit to certain trust accounts for Island
possessions; lncl\^oa corporation Income tax on Alaska Railroad.
2/ Includes excess profits taxes formerly shown separately as follows:
declared value (repealed for years ending after June 30, 19l*6),
Excess Profits Tax Act of 19UO (Title II of the Second Revenue Act
of 191*0, which was repealed for years ending after Deceonier 31, 19l*5)<
^
4/
^
6/
2/
»
and Vinson Act as amended (34 U,S,C, 496).
Beginning January 1951, withheld inccoe taxes and social security
employn^ant taxes on employees and oaployere are paid Into the
Treasury in combined amounts without separation as to type of tax.
The figures for prior periods have been combined accordingly In
this table for purposes of ccoparlson, but are shown separately In
the March 1951 and preceding Issues of the "Treasury BuUctln".
Repealed for years oMing after June 30, 1945, Beginning with
July 1950, Included under "Mlecellanoous taxes"
Includes television sets as provided in the Revenue Act of 1950,
approved September 23, 1950,
Includes quick-freeze unite as provided in the Revenue Act of 1950.
Repealed (except on imported olecanargarine ) , effective July 1,1950.
Less than $500.
.
Treasury Bulletin
kS
MONETARY STATISTICS,
Table 1.- Money In Circulation
(In mllllona of dollars except as noted)
Paper money
End of fiscal
year or month
Total
money in
circulation 1/
Total
paper
money
Gold
certificates
Silver
certlfIcateB
2/
TreaBury
notes
of 1890
TMlted
States
notes
Federal
Reserve
notes
Federal
Reserve
Bank
notes
National
bank
notes
2/
597
527
126
120
1*61*
111*
1*06
106
99
1,588
1,651
2,025
2,061
2,061
322
323
317
320
321
18,750
22,867
23,973
23,999
23,600
319
321
318
23,209
22,760
309
39
2,061
2,177
2,092
23,1*56
21*3
93
86
81
1*0
2,029
313
23,363
257
81*
ItO
2,026
2,051
2,059
303
22,811
22,916
25I*
83
83
27,U9
25,518
25,653
25,576
25,727
25,951
26,231
39
39
39
2,077
3II1
2,091*
June
27,278
27,519
27,809
316
318
July
August p.
27,851
28,153
26,260
26,552
39
39
2,059
2,057
22,5011
26,7116
28,2ll5
21,1*38
25,5111
26,9lt5
51*
19116
19117
19I1B
28,297
27,903
26,91*2
26,1*82
1*8
19119
27,li93
26,031*
1*3
1950
1951
27,156
27,809
25,661
26,231
1*1
1950-Deoomber.
27,7lil
26,187
1951 -January.
February.
March.
27,01*8
19't'i
Wits
.
.
April....
May
End of fiscal
year or month
27,188
52
50
1*5
ItO
39
2,092
311
310
3II1
320
353
271*
22,831*
252
250
22,966
23,173
21*7
2li5
82
82
23,1*56
21*3
81
23,526
23,816
2ltl
81
239
82
October 1951
1+9
MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts in miULlonfl)
Gold
End of fiscal
year or month
($35 per
fine ounce)
igWt
W"*?
Ratio of BllTer
to gold and
8 liver in
monetary stocks
( in percent)
SllTer
($1.29+ per
fine ounce)
3,91*7.9
15.7
3,685.8
15.1*
igUS
21,173.1
20,213,0
20,269,9
21,266,5
23,532.5
igitg
2li,li66.3
1950
1951
3,508.1*
lit.
3,525.7
3,571.0
ll*.2
2U,230,7
21,755.9
3,618.3
3,671.5
3,718.5
12.9
13.2
1U.6
1950-Dec
22,706.1
3,697.1
lU.O
1951-January.
February,
March,.,,
22,391.7
22,085.9
21,805.6
3,701.9
3,705.0
3,708.9
1U.2
m.i*
April,.,,
May
June
21,8oU.9
21,755,7
21,755.9
3,712.1
3,713.6
3,718.5
11*.
July
August p.
21,759.1
21,853.7
3,721* .0
14.6
3,731.1*
11*.
igi^fi
19117
Source: Circulation Statement of U. S. Money; Daily Treasury Statement for
preliminary figures. For detail of silver monetary stock, see Tahle k.
p
13.2
llt.S
11*.
11*.
Preliminary.
Table 3.- Gold Assets and Liabilities of the Treasury
(In millions of dollara)
Liabilities
End of calendar
year or month
Gold assets
Gold certificates 1/
191*1*
20,618.8
18,1*97.1*
191*5
191*6
ao,o6ii.9
20,529.0
22,753.9
17, 911*.
18,1*30.5
21, 51*1*.
191*7
191*8
Gold reserve
against U. S.
notes, etc. 2/
156.0
156.0
156.0
156.0
156.0
Exchange
Stabilization
Fund i/
1,800.0
1,800.0
1,800.0
Gold in
General Fund
165.4
194.8
142.4
1,053.9
1,077.9
21*, 21*3.9
23,010.0
191*9
2lt, 1*27.1
23,217.9
1950
22,706.1
21,1*97.5
156.0
156.0
1,053.2
1,052.6
1951- January.
February.
March. . .
22,391.7
22,085.9
21,805.6
21,200.0
20,391.8
20,606.2
156.0
156.0
156.0
1,035.6
1,038.0
1,043.4
April
May
June
21,8ol*.9
21,755.7
21,755.9
20,6o6.2
20,547.0
20,553.3
156.
156.
156.
1,042.6
1,052.7
1,046.5
July
August p.
21,759.1
21,853.7
20,543.0
20,650.3
156.0
156.0
Z,o6o.O
1,047.4
Source: Circulation Statement of U. S, Money; Dally Treasury Statement for
preliminary figures.
1/ Coraprlees (1) gold certificates held by the public and in Federal Reserve
Banks; and (2) gold certificate credits in (a) the gold certificate fund -
2/
2/
p
Board of Governors, Federal Reserve System, and (b) the redeinptloa
fund - Federal Reserve notes.
Reserve against United States notes and Treasury notes of I89O.
Excludes gold in active portion of Exchange Stabilization Fund,
Preliminary.
Treasury Bulletin
50
MONETARY STATISTICS.
Table 4.- Components of Sliver Monetary Stock
(In mllllona of dollars)
End of calendar
year or month
October 1951
51
MONETARY STATISTICS.
Table 6.- Seigniorage on Silver
(Cumxilatlve from Januaxy 1, 1935 - In mllllonfl of dollars)
End of calendar
year or month
.
Treasury Bulletin
52
CAPITAL MOVEMENTS.
Data relating to olelme on forelgnere and llablll-
tlee to foreigners,
the data for January 1950.
and capital raovemente between the
United Statee and foreign countries, have been
Attention
Is
called to the
fact that although the grand total figures on the revised
since 1935. pursuant to Executive Order 6560 of January I5,
collected
reporting basis are reasonably comparable with those for
preceding months, data for Individual countries In some
and Treasury regulations thereunder.
Information
covering the principal types of data and the principal
coverage and geographical classification.
Instances are not comparable because of certain changes In
193**.
countries Is reported each month by banks and bankers and
securities brokers and dealers In the United States. This
The supplementary Information, contained In Section IV,
Information Is published regularly In the "Treasury
Is presented In three tables appearing at different times.
Bulletin".
Table 1 glvee data by countries on short-term claims on and
Supplementary Information Is published at less
frequent Intervals.
liabilities to foreigners as reported quarterly by exporters,
All reports are made Initially to the
Federal Reserve Banks, vdilch forward ooneolldated figures
importers, and Industrial and commercial concerns in the
to the Treasury.
United States. This Information was published for the first
time In the October 19^9 issue of the "Treasury Bulletin"
States
and begins with data for September 30, 1946.
Table 2
supplies Information by countries on long-term claims on
citizens) domiciled outside the United States, as well as
and liabllitiee to foreigners as reported by banks and
International organizations, wherever domiciled,
bankers in the United Statee.
The term "foreigners" as used In these reports covers
all Institutions and Individuals (Including United
treaty or convention between sovereign states.
created by
"Short-term"
flr-^t
This table appeared for the
time in the December 19'+9 leeue.
Data are for the
refers to original maturities of one year or less, and
end of the calendar year beginning with 1942.
"long-term" refers to all other maturities.
gives information on short-term liabilities to countries
discussion of the reporting coverage,
A detailed
Table
3
basis of reporting,
not regularly reported separately by banks and bankers.
and derivation of capital movements figures appeared In
the April 1950 Issue of the "Treasury Bulletin", pages 50-52.
This table appeared for the first time in the April 1950
issue. The data have been requested at Irregular intervals,
Revised report forms and regulations became effective with
the earliest date being October 1943-
Section
I
-
Historical Summary
Table 1.- Net Capital Movement between the United States and Foreign Countries
(In thousands of dollare; negative flgurea indicate a net outflow of capital from the United Statee)
Analysis of net capital
Calendar year or month
Net capital
noremant
Short-term
hanlclng funds
Brokerage
balances
mijveiiiant
Transactions
in dcaasstic
securities
in:
Transactions
In foreign
securities
WSS-ltl
5,3511,071
3,770,922
100,870
626,731
855,548
19lt2
626,121
1,286,893
583,373
1,168,058
1*6,599
1.61,354
l,07lt,375
11*8,591*
3,513
13,372
8,529
-7,364
77,696
93,496
-46,617
igits
19Wi
I9I15
27,767
210,735
-113,105
1,216,303
17,791*
-793,321*
33'»,l63
225,1*17
-733,909
-331*, 203
wug
19l*,li58
1950
1,761,61*0 r
90,81*5
95l*,605
9,661
-11,318
-19,313
610
7,992
91*4,1*30
265,127
39,012
-94,832
27,800
-145,387
77,829
-6,668
-U,273
31,1*68
-46,228
-31,885
-43,953
-33,582
15,572
19U6...
191*7
19U8
395,521*
531,777
:
•1/
-89,055
-192,215
75,203
1951 -January.
February.
March....
-50,81*7 r
-58,1*53 r
-1*9,772 r
-127,159 r
-1*3,223 r
r
-1,257
2,711
-2,269
AprU....
28,527 r
-100,626
2,769
-28,601* r
-l*,835
-66,565
295,957
-1*,1*99
11,103
93,851
14,791
-270,719
-107,301
-116
-35,228
May
June p ,
.
July p...
1/
See Table 2, footnote 1.
-32,71*3
-127,073
p
r
Preliminary,
Rerieed.
-260
October 1951
53
CAPITAL MOVEMENTS.
Section I - Historical Sunnary
Table 2.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of period in thoueandfl of dollara)
End of calendar
year or month
Treasury Bulletin
5"^
CAPITAL MOVEMENTS.
Section I - Historical Sumnary
Table 4.- Purchases and Sales of Long-Tern Dooestlc Securities by Foreigners
(In thouaanda of dollars; negative flgurea Indicate a net outflow of capital frcm the United States)
or month
October 1951
55
CAPITAL MOVEMENTS
Section II
Sunniary by Countries
Table 2.- Net Movement in Brokerage Balances and Long-Term Security Transactions by Foreigners
-
(In thousanda of dollare; negative figures Indicate a net outflow of capital from the United States or net aalee by forelgnore)
Oountr7
1/
Prior to April 1951, morameBit data for China Mainland
and Fonaoaa are not available separately.
(
Including Manchuria)
p
Preliminary.
Treasury Bulletin
56
.CAPITAL MOVEMENTS.
Section II
-
Summary by Countries
Table !•- Net Movement of Capital and of Short-Term Banking Funds
(In thouflands of dollars; negative figures Indicate a net outflow of capitad lYon the United States)
Country
i/
Beglimlne with March IShj, Includes transactions In accounts opened by
occupation authorities for foreign trade purposes,
Prior to April 1951, movement data for China Mainland (including
.
2/
Manchuria) and Formosa are not available separately.
Preliminary.
Eevlsed.
October 1951
57
CAPITAL MOVEMENTS.
Section II - Sumutry by Countries
Table 3.- Stiort-Teni Clalas on and Liabilities to Foreigners
(PoaltlcQ at and of month In thousasda of dollars)
Liabilities to foreigners
Cloijna on foroi^nera
CountXT
1951
BuroB«J
Austria
Bal^lilii
C t echoa IcrraJda •
210
1*1
23A39
21,887
272
6,695
3,261
19,700
23
7,332
6,305
6,962
25,893
79
Denmark
Finland
3,890
'(,021
France
Gennanj
Greece
Italj
Netherlands ....
1951
June
May
April
It
Julj p
jp
33
18,767
179
6,182
6,197
7,1*06
3,583
6,259
25,928
91
35,155
It, 161
Norvay
Poland
Portugal
Rumania, «••••••
Spain
2,109
1,810
Svedan
Svitterland..
9,1*59
8,597
8,17lt
7,1*13
8,988
10,81*2
11,019
10,535
1
110,213
1,702
It. 687
272,380
30,632
^
25,9'tl
105
3'*,3(A
531
7
1,319
25,350
82
93
55,121
3,896
52,868
3,503
2,327
2,260
1*1
ItO
1*3
669
1,31*0
1,321
9
It
2,009
6,98a
3
13,621*
U. S. S. K...
81
52
United Cii^da
yugoelarla, .
Other Europe,
99,81i6
110,673
156
98,817
226
U,288
Total Europe,
252,907
2lt2,608
258.535
107,250
117,631*
116,713
17,816
9,869
6,697
85,282
9,971
51*, 962
1*0,31*8
1,877
2,813
61*, 828
191
1,839
2,692
58,517
1,107
1,356
1,585
1,373
13, 1*52
13,1*68
2,721*
12,607
2,520
13,202
13,772
2,793
3,387
7,782
65,390
12,988
1*02,^5
371*, 027
Clilna Malnlasid
Fomoaa •.*•.....
2,1*87
2,1*57
5,91*0
2,lt37
5,9lt3
Hone Kong
2,253
5,962
219
18,387
212
368
2,387
5,915
3,127
17,1*63
15,7lt3
3
't,315
It,
Latin America:
Argentina.
Bolivia..,
Brazil....
Colcnbla.
36,1*29
10,898
6,289
80,U6l
9,579
51,593
Cuba
Dcmlnioan Bepublic,,..
1*6,721*
1*1*,
5,'t79
85,1*21*
OMle
6,858
Guat4Biiala
Maxloo
Vetherlands West Indies
sod SurlnoB. ,..•....
Peru
Bepubllo of Panma. , .
El SalTador
Uruguay
Tenezuela
Other Latin Aoeirloa. ..
Total tatln Aurlca. .
2,821
It, 608
7,588
91,1*89
2,071
2,797
56,Ul8
9,1*55
8,091
95,157
22,855
1*8,036
36,912
2,022
2,638
58,61tl
3,257
3,01*6
11,001*
56,901*
lU.lltlt
10,399
67,059
13,900
371.501
381t,711
Aalai
.
Iixlia
16,71*5
Indcnaala
Iran
Isrul
Ja(pan
Phlllpplnaa.
Thailand....
131
7,1*71
19,782
8,386
8,981
2,927
It,
It,
289
19lt
7,892
25,672
6,758
6,501
3,996
7,876
29,391
8,167
7,1*28
23,11*3
6,71*7
9,1*85
3,821
3,116
755
16,561
590
18,775
9,896
Turkay
Other Asia.
9,691*
1,525
11,561
Total Asia.
86,220
95,11*2
103,818
99,799
917
5,018
1*1,515
1*1,835
36,393
5,190
5,808
7,01*8
277
6,113 r
6,599
301
8,565
6,236
378
12,599
6,609
59,691* r
62,71*5
63,027
,105 r
913,312
Other countriee:
Austi«lla
'Belgian Coi^o
Sgypt and Ai^loXgyptian Sudan
IbioD of South Afrioa.
Other
Total other countries.
1,1*23
1*1*,
271*
l.,603r
6,768
61,580
Inteniatioaal .
Grand total,..
910,1*72 r
April
May
June p
July p
)
Treasury Bulletin
58
CAPITAL MOVEMENTS
Section II - Sunnary by Countries
Table 4.- Foreign Debit and Credit Balances In Brokerage Accounts
(
Country
PosltloQ at end of month In thoiisaade of dollars
October 1951
59
CAPITAL MOVEMENTS,
Section III - Details for Month of May 1051
Table 1.- Short-Ternr Claims on Foreigners
(Position at end of month In thousanda of dollars)
Country
Treasury Bulletin
60
CAPITAL MOVEMENTS
Section III
Details for Month of May 1051
Table 2.- Short-Tern Liabilities to Foreigners
-
October 19ol
61
CAPITAL MOVEMEKTS
Section III
-
Details for Month of May 1951
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
Treasury Bulletin
62
CAPITAL MOVEMENTS.
Section III A - Preliminary Details for Month of July 1951
Table 1.- ^ort-Term Claims on Foreigners
(Position at and of month In thouflanda of dollare)
Coimtry
1/
Beglnnlne with Maxch 191*7, Includes balances in accounts opened by
occupation authorities for foreign trade purposes.
October 1951
63
CAPITAL MOVEMENTS
Section III A
Preliminary Details for Month of July 1051
Table 2.- Short-Term Liabilities to Foreigners
Treasury Bulletin
61+
CAPITAL MOVEMENTS
Section III A
-
Preliminary Details for Month of July 1951
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners
October 1951
65
CUMULATIVE TABLE OF CONTENTS.
November 1950
.
Treasury BaJletin
66
CUMULATIVE TABLE OF CONTENTS.
November 1950 through October 1951
Issue and page nuniber
1951
1950
Jan.
Feb.
Mar.
Apr,
26
26
27
29
27
27
28
27
27
28
30
30
United States savlnge bonds:
Summary of cumulative saleQ and redemptlone by series
Sales and redemptions, all series combined, by periods
Sales aM redemptions of Series A-D, E, F, and G by periods
Bedeanptions of matured and unmatured, all series combined
Sales aai redemptions of Series E and F and G by denominationa
Sales of Series £ and F and G by States
26
26
27
. . .
29
30
26
26
27
29
26
26
27
29
30
31
Treasury aavlngs notes:
Summary of cumulative aalea and redemptions by earles
Sales and redemptions, all series combined, by periods
31
31
30
30
30
30
33
33
31
31
31
31
32
31
31
31*
32
32
32
33
31
32
31
32
31*
35
32
33
32
33
Z>*
33
33
36
31*
31*
Ownership of Federal securltlee:
Distribution by claaaee of Investors and types of issues
Net market purchases or sales for investaaent accounts handled by
the Treasury
Estimated ownership
Treasury survey of ownership:
Ovnerehlp by banks, insurance companies, and others
Ovnershlp by commercial ban]£s classified by membership in Federal
Reserve System (latest date June 30» 1951)
•
38
Market quotations:
Over-the-counter closing quotations on Federal aecurltles
by issues
Chart showing yields of Treaflury securities
Yields of Treasury and corporate bonds
38
37
37
1*0
1*2
38
1*0
39
39
1*2
1*1*
1*0
1*1
1*0
1*0
1*3
1*5
Ul
U2
1*1
1*1
1*1*
1*6
1*2
1*3
1*2
1*2
1*5
1*7
1*3
kk
1*3
1*3
1*6
US
Ul.
1*5
1*1*
1*1*
1*7
1*9
U5
1*7
1*6
1*6
1*9
1(3
1*7
1*7
1*8
1*7
1*9
50
50
51
51
52
52
53
U7
U8
US
U9
53
U9
50
:
Average yields of long-tenn bonds by periods
Chart showing average yields of long-term bonds
Internal revenue collections:
Simmsry by principal sources
Chsrt showing internal revenue collections
Detail of collections by type of tajc
Monetary etatlstlcs:
Money in circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Ccanpcnents of s liver monetary stock
•
Silver production in the United States and acquisitions by mints
and assay offices
Seigniorage on silver
Increment from reduction In weight of gold dollar (latest date
June 30, 1951)
Net Treasury gold receipts (latest quarter ending June 30» 1951).
1*8
U7
U8
1*9
1*8
1*8
50
1*9
1*9
50
51
52
51*
52
1*9
51*
Exchange Stabilization Fund:
Balance Sheet (latest date March 31, 1951)
Inccane and expense ( latest date l-larch 31» 1951)
51
52
53
51*
Capital movements between the United States and foreign
countries:
Historical summary of capital movemants elnce 1935
Summary by countries end months
Details for latest months by countries
Supplementary data by countries
53
56
60
Corporatlone and certain other bueinese-type activities
(latest date December 31, 19?0):
Loans outstanding
Balance sheets
Inccane and expense
Source and application of funds
66
50
53
57
63
50
53
55
57
62
58
55
58
62
Ma;
July
Aa«,
Sipt.
I
41
I
4
ex/
Treas.
HJ
U.S. Treasury Dept.
10
.kl
1951
C.2
Treasury Bulletin
H
@FedFRASER