Full text of Treasury Bulletin : October 1956
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LIBRARY
ROOM 50?5
JAN
3 01958
TREASURY DEPARTMENT
LIBRARY
ROOM 5030
J UN 2 3 1972
TREASURY DEPARTMENT
TREASURY DEPARTMENT
FISCAL SERVICE. BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON 25. DC.
OFFICIAL BUSINESS
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
WEASUMY.
EUILILIETrnM
QCTDBER-iaSE
iT?r
UNITED STATES TRERSURV DEPRRTMENT
OFFICE DP THE
SECRETPRV
The Treasury Bulletin la for sale by the
Superintendent of Documents,
U. S. aovernment Printing Office, Washington 25, D. C.
Subscription per year $5.00 domestic, $6.25 foreign.
Single copy price varies.
October 1956
Table of Contents
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
6
Cash Income and outgo
Debt outstanding and Treasurer'
10
s
account
l6
Statutory debt limitation
20
Debt operations
21
United States savings bonds
29
Ovmershlp of Federal securities
33
Treasury survey of ownership of Federal securities
35
Market quotations on Treasury securities
39
Average yields of long-term bonds
4-2
Internal revenue collections
Ij.I|
Monetary statistics
lj.7
Capital movements
c]_
Cumulative table of contents
62
Note:
Where calculations have been made from unrounded
figures, the details may not check to the totals
shown.
Treasury Bulletin
II
Reporting Bases
Data on receipts
,
The dally statercent on the new basis
expendlturee, and debt which
appear In the "Treasury Sulletln" are baeed largely
on two Treasury financial repcrte,
the "Dally State-
was first
Issued for February 17, ISb^- In the deyoslte and
withdrawals as shown, no distinction is made as to the
ment of the United States Treasury" and the "Monthly
type of accounts (tudget,
Statement of Rccelpte and Expenditures of the United
are on the basis of certificates of deposit cleared
States Government."
through the account of the Treasurer of the United
Certain moneteiry statistics are
based at least In part on the "Circulation Statement
States.
of United States Money."
paldorcash dlsburscrents
Where these statements are
trust, etc.).
The deposits
Total withdrsKale are on the basis of checks
rt:ade
out of the Treasurer's
given as sources for Individual tables, they ere cited
account. Some of the withdrawal classifications stown
by name only.
Their respective reporting bases are
described below. For other data In the Bulletin,
Information on sources or reporting bases Is given
are reported on the basis of mailed reports of checks
In connection with the tables themselves.
minor amounts, noncash Interfundand other Intregovemmantal transactions are excluded. The public debt
The monthly statement of receipts and expenditures was first published for February 195'*, and
figures In the dally statement also are on a "clear-
issued and are adjusted by means of clearing accounts
to the total of checRs paid.
Except for relatively
of Information on budget results and other receipt
ance" basis, with the exception of those issuance
and retirement transactions reported on the bEtsls of
telegrams from Federal Reserve Banks, but they
and expenditure data classified by type of account.
Include noncash debt transactions.
replaced the dally statement as the primary source
At the same time, the dally statement was changed
The dally ptatcaent before February I7,
to a statement of cash deposits and withdrawals af-
fecting the account of the Treasurer of the United
States.
Both publications have provided comparative
I95I*,
covered not only transactions cleared through the
Treasurer's account but also certain Government
figures on their respective bases from the beginning
agency transactlcns which were handled through
of the fiscal year 1953The announcement of
February 17, 195^. with respect to these reporting
coBmercial bank accounts, and included noncash Inter-
changes may be found In the April 195^ issue of the
provided Information similar to that in the present
dally statement with respect to the statue of the
Bulletin.
The monthly statement shows all receipts and
expenditures of the Oovernment, Includlna' those made
from cash accounts held outside the United States
Treasury. The Information is compiled from reports
by the Treasurer of the United States and by all
other collecting and dlsburelng agencies, including
those agencies which maintain checking accounts In
commercial banks.
fund and other Intragovernmental transactions.
It
Treasurer's account, and similar to that in the
present end-of-month dally statement with respect
to debt Issuance, retirement, and amount outstanding.
Receipts and expenditures, however, were classified
by type of account,
and the budget results shown In
the dally state:iient were used as the basis for
reflecting the results under the President's budget
program as enacted by the Congress.
These reports cover transactions
Receipts were on the basis of deposits as
recorded in the accounts of the agencies during the
reporting period.
The net of the transactions as
compiled from these reports Is reconciled In the
monthly statement to changes In the balances In the
Treasurer's account and in cash held outelde the
Treasurer's account anc changes In the public debt
outstanding.
they cleared the Treasurer's account.
Expenditures
cleared through the Treasurer's account were reported on two successive bases. Throue-h 19^*6 they
were on the basis of checks paid by the Treasurer
of the United States.
Beginning with 191*7, expenditures made through the facilities of the Treasury
Disbursement were on the
6 Division of
basis of checks issued, while certain others, prinDepart-nent'
Receipts of taxes and customs duties are reOther receipts are
ported on a collections baals.
cipally those of the Department of Defense and Its
predecessor organlzat lone, wore on the basis of checks
reported partially on a collections basis and partially on a deposits basis. Expendltjree, except
paid.
Interest on the public debt, are reported on the
basis of checks issued or cash payments made by
disbursing officers. Transactions of an Interfund
or Intragovemmental nature are Included on the same
debt and gusiranteed securities, were as reported by
the agencies.
Interest on the public debt was included on a due and payable basis beginning with
November I9U9 and on a checks-paid basis prior to
basis even though the actual Issuance of checks may
that time.
not be Involved.
Transactions handled through commercial bank
accounts, consisting of market transactions In public
Interest on the public debt le
Included on an accrual basis beginning with figures
for June 1955 ^^d the fiscal year 1955. Prior to
that. It was Included on a due and payable basia.
The same reporting basis as that in the monthly
statement provides the fiscal year figuree for the
The circulation statement reflects transactions
through the Treasurer's account which affect monetary
stocks of gold and sliver and the soounts of ooin and
currency in the money supply of the country. It Is
issued later than the daily statement, however, ani
tures and Balances of the United States Government"
the figures are based on transactions consummated
during the reporting period even though some may not
and for aotual receipts and expenditures In the
"Budget of the United States Government."
have cleared through the Treaeiu'er's account during
that period.
Treasury's "Combined Statement of Receipts, Expendi-
October
19%
A-l
Treasury Financing Operations
Additional lasue of Treasury Bills
In accordance with Its announcement on October k, 195^,
the
Treasury Department on October g Invited tenders on October 10 for
$1.6 billion, or thereabouts, of 91-day Treasury bills.
dated October 17, 195^.
The bills are
The offering was for "new money" with payment
completed on October 17, provided, however, that any qualified
depositary could make
payrrient
by credit In Its Treasury tax and loan
account for Treasury bills allotted to It for Itself and Its customers
up to the amount for vtilch It was qualified In excess of Its existing
deposits.
Tenders were accepted In the amount of $1,603 million.
The average rate of discount was 2.627 percent.
Refunding of Maturing Treasury Bills
Treasury 91-day bills maturing In September were refunded by new
91-day bills In the equivalent total of $6.1+ billion.
and each maturity amounted
to $1.6 billion.
on the new Issues were 2.736 percent
for
Each new Issue
Average rates of discount
September 6;
2.770 percent
for September I3; 2.90g percent for September 20; and 2.926 percent
for September 27.
Note:
Details of Treeisury market financing opeirations are shown elsewhere in
this Issue of the "Treaaury Bulletin," in the tables
on
"Offerings,"
"Allotments," and "Dleposltlon," respectively, of marketable leauee of
bonds, notes, and certificates of Indebtedness, and in the table
"Offerings of Treasvir7 Bills."
,,
OcTobcr
mt)
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In
Budget receipts and expenditures
Net
receipts
i/
ErpendIturee
2/
Surplufl,
or
deficit
(-) 2/
mlUloos of dollars)
of
tniBt
account
Clearing
and other account,
transetc.
actions
2/ a/
Pfet
y
Net
Increase
In
public
debt, or
decrease
Net
Increase in
Treasurer's
account
balance , or
decrease (-)
Levels, end of period
Debt outstanding
Treasurer'saccount
Public
balance
debt
Guaranteed
securities
(-)
Total
Federal
securities
Subject to
llioltatlon
Flcal years:
l^ltS
W.,1.75
98,1*16
-53,91.1
57,679
l.,529
19li6
19l»7
39,771
39,786
60,1*1*8
-20,676
-521.
10,71.0
-10,1.60
751*
-1,103
-11,136
-10,930
24,698
14,238
3,308
19lt8
1.1,U88
-5,991*
191*9...
37,696
39,032
33,069
39,507
1.78
1,621.
-1,1.62
791
8,1.19
-291.
-1,811
-1.95
555
-507
366
433
476
90
4,932
3,470
258,682
269,422
258,286
252,292
252,770
73
27
36,1195
lt7,568
39,617
-3,122
3,510
99
679
1.83
l*,587
2,01.7
liJt,058
-211.
65,1*08
-l*,017
II.7
-1.01
7l*,27l*
-9,W.9
-3,117
1.35
-250
328
-303
-2,135
3,883
6,966
5,189
1,839
-388
-2,299
2,096
5,517
7,357
6,969
4,670
6,766
257,357
255,222
259,105
266,071
271,260
20
29
61,391
6U,825
64,655
1955
1956 p
60,390
61*,
570
66,386
-1*,180
1,751*
231
-ei8
281.
68,11*1
1.18
3,115
-1,623
-551
331
6,216
6,546
274,374
272,751
44
74
1957 (Est.)...
69,800
69,093
707
279
-180
-1,351
-51.6
6,000
271,400
n.a.
19lt5
'•3,678
87,271
-1*3,591*
38,568
1*1,080
-2,512
362
-18,966
3,767
-22,502
'*0,389
UO,861*
37,51't
37,955
35,6S3
2,1*31*
-123
-1,386
-350
-229
-502
U7,1.81.
I9W
19l»7
-21«)
-2,21*9
-1.05
1,111
26,003
3,502
3,097
4,208
4,679
278,115
259,149
256,900
252,800
257,130
567
339
81
55
30
4,232
4,295
6,064
4,577
5,180
4,545
256,708
259,419
267,391
275,168
278,750
280,769
24
1950
1951
1952
1953
195l»
67,772
46
52
81
259,U5
269,898
258,376
252,366
252,798
268,671
268,932
257,491
251,542
252,028
257,377
255,251
259,151
266,123
271,341
256,652
254,567
258,507
265,522
270,790
274,418
272,^5
273,915
272,361
278,682 6/
259,487
256,981
252,854
257,160
288,559
258,554
256,127
252,057
256,413
256,731
259,461
267,445
275,244
278,784
280,822
256,026
258,794
266,821
274,671
278,256
280,348
278,463
278,209
274,080
277,949
277,697
273,571
276,686
277,515
274,418
276,179
277,010
273,915
277,626
278,352
277,524
277,143
277,872
277,045
279,866
280,189
280,822
279,388
279,713
280,348
Calendar years:
I9US
19't9
1950
1551
1952
1953
195^
1955
37,306
52,979
61t,81tO
63,81.1
1*1,106
37,728
56,337
70,682
72,997
61,171
63,358
61*,85U
66,129
Months!
1955-Januai7 . .
February.,
March....,
U,655
l*,9lt2
5,1*27
9,71*1
1*,831
5,891.
April....,
3,732
May
June
1*,1.38
July
August.
,
,
10,125
2,765
,
..
l*,73l*
5,2Ul
-3,592
-1.22
-3,358
-5,81.2
-9,157
-3,683
-2,771
62
1,770
-31.
7,973
7,777
3,582
376
2,019
603
-635
-3U
-1.51
-257
682
-260
4,728
5,411
5,151
278,439
278,182
274,048
24
27
-l.,13l.
5,228
5,356
6,753
-1,1.96
-161.
309
2,601
-1*3
-381.
821.
-69
131
-3,098
1,250
-522
336
6,401
5,880
6,216
276,649
277,472
274,374
37
-919
3,372
5,382
6,225
-2,617
-23I.
237
-1,1.91
-217
337
-71*
3,210
725
-833
595
-1,058
-378
6,811
5,753
5,376
277,584
278,309
277,476
42
43
-1*0
-62
-195
5,314
5,119
4,545
279,818
280,136
280,769
48
3,252
4,756
7,072
280,049
280,108
276,345
53
58
59
280,102
280,167
276,404
279,630
279,696
275,935
1956-Januai7..,
February .
March....,
1*,681*
6,195
11,313
April....,
11,082
5,271*
1*,950
-213
33
-1
1*73
2,31.1
-36
-761
-1*W*
319
632
-590
-162
179
-720
-1,293
1,21.5
127
73
60
1,501.
-510
-571.
5,399
5,911.
-33
198
-3,76U
2,316
5,387
-1,305
265
-1,360
5,1.67
-1.17
-120
236
2k
-U08
-556
«
-172
26
6,783
1*,793
3,1*85
5,51.2
•^,057
l»,95l<
5,902
-91*8
-31.
22
Actual figures throi;eh the fiscal year 1952 and the calendar
year 1953 are fran the dally Treasury statement, and thereafter In
each case they are fran the mcnthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page n); estimates are fraa the midyear review of the 1957
Budget, released August 28, I956, Includli^ expenditures fran 1957
appropriations anticipated for later transmission to the Cangrees.
Grose receipts lees transfers of tax receipts to the Federal Old-Age
and Surnvore Insurance Trust Fund, the Railroed Eetlrement Account,
and the Highway Trust Fund; and refunds of receipts.
Transactions of the Foreign Econanlc Cooperation Trust Fwid, established under Section 114 (f) of the Econanlc Cooperation Act of 1948
Begin(62 Stat. 150), are consolidated with budget expendlturee.
ning with the fiscal year 1951, net investzoent by wholly owned
Government enterprises in public debt eecurltlee Is excluded fran
budget expenditures, and is Included with other such Investment under
"Trust accoimt and other transactions."
CoiBlsts of transactions of tnugt and deposit funds. Investment by
Coveranent agencies in public debt securities, and redemption or sale
of obligations of Government agencies In the market; excess of recelpts, or expenditures (-). For detail of content, see page 6.
Source:
-1,1.88
42
54
76
34
53
36
158
i/
2, Til
351.
^,663
2/
-106
-319
-209
-186
5,355
5,172
5,651
i/
-1.1.7
-7
5,31*0
..
-1*23
-U
5,1*98
July
August.
1*71
87
332
2,692
5,050
11,576
l.,331
-287
596
October. .
November..
December.
May
June p...,
-It, 100
3,81.6
September,
1*,662
l*,889
311
815
-Ul
101
739
-259
199
231.
33
43
44
48
53
53
91.1
51.8
-3,978
287
5,712
6,259
6,546
275,789
276,729
272,751
56
62
74
275,845
276,791
272,825
275,378
276,326
272,361
-105
2,919
-2,369
2,019
4,178
6,197
272,645
275,565
74
272,719
275,644
272,257
275,183
4/
^
6/
•
p
n.a.
79
For checks outstanding, telegraphic reports from Federal Reserve Banks,
public debt Interest accrued and unpaid beginning with June and the
fiscal year 1955 (previously Included fran November 1949 as interest
checks and coupons outstanding), and deposits in transit and cash held
outside the Treasury beginning with the fiscal year 1954; net Increaee,
or decrease (-).
For current month detail, see section on "Statutory Debt Limitation" In
each leexu of the Bulletin. The limitations In effect during the period
covered by this table and the date when each became effective are as
follows: June 9, 1944, $260 bllllcn; April 3, 1945, $300 billion;
June 26, 1946, $275 billion; August 28, 1954, $28l billion; and July 1,
1956, $278 biniai (temporary lu;rease ending on June 30, 1957). Guaranteed securities are Included under the limitation beginnii^ April 3,
1945. Savings bonds are Included at current redemption value beginning
June 26, 1946; prior to that time they were Included at maturity value.
In the debt outstanding, savings bonds are carried at current redemption
value.
Immediate postwar debt peak of $279,764 million was on February 28, 1946.
Lees than $500,000.
Preliminary.
Not available.
Treasury Bulletin
.BUDGBT RECEIPTS AND EXPENDITURES.
Table 1.- Receipts by Principal Sources
(In mllllone of dollars)
.
..
.
Octobt'f V>5l)
.BUDGET BECKIPTS AND EXPEHDITUEES
Table 2.- Expenditures by Agencies
(In mlllloDa of dollars)
Fiscal year
or mcQ^
Legislative
Judlciai7
Executive
Office
of the
'branob
President
1953
igsk
1955
1956 P
7't,27't
61
67,772
59
61t,570
65
87
66,386
1957 (Est.)...
1956 -January.
Fehruary,
March.,..
69,093 1/ hj
161
3,217
2,915
385 2/
1,107
806
-6152/
129 2/
37
'.,636
52 It
973
5,191
61tl.
133
6,151
.3
1*3
It
21*0
33
5
1.6 It
29
-101
20
367
199
5,399
532
595
615
5,387
9
5,1.67
7
8
886
616
676
632
32
57
59
lt99
11
9
lJ.,Wt3
MiUtaiy
fUQCtlODS
Civil
functions
1953
1.3,611
813
195'*
^,336
605
Saucation,
and
UW.i8trlbuted Welfare
forolgn
Depaiianent
transactions
Interior
Department
15s
218
568
1^3
786
250
87
53
-80
735
1,611
92
587
535
515
526
391.
659
312
356
216
1.12
1.57
271
156
136
138
300
355
51.8
35,51.8
573
1957 (Est.)...
36,000
65lt
2,331.
6I16
2llt
tel.
U95
178
1956 -January..
Februaiy.
March...,
2,855
2,918
2,786
1.3
-Wt
200
1.5
2lt
I6I.
35
13
12
20
151
1*3
72
19
19
12
39
37
17
16
16
1.8
-lt9
33
1.7
192
173
168
16
18
23
36
16
6/
7lt
798
6,382
6,370
6,792
83
873
62
3681/
5lt
877
2S
22
983
31
7,1561/
625
61
553
559
1«
66
60
1
-1
608
76
151
62
21
36
16
627
63
52
567
90
83
83
53
1,194
153
July
August...
2,368
3,211
1.7
112
185
1.3
8
201.
61
17
16
31
66
5,580
113
120
389
104
33
51.
12
13
6,501.
25
50
-6
-13
Source: Actual figures are frcm the monthly statement of receipts and elpendlturee of the Government (for explanation of reporting bases, see
page II); estimates are frcm the midyear revlev of the 1957 Budget,
released August 28, 1956, Including eipendltures fran 1957 appropriations anticipated for later transmission to the CcogreBS.
Note: Figures In this table are for agencies as constituted at the time
the expenlltures were made, and therefore do not necessarily represent
functions irtilch are can^tarable over a period of time. For expenditures
by functions on a ocxislstent basis, see Table 3*
l/
I^cpendltures for Peconstructlon Finance Corporation are Included under
"Independent offices" throi«h 1954, and under "Treasury Departanent,
Other" thereafter.
Colmbla
565
561
63
lt6
11.
On
refunds
of taxes
11
May
Jime p...
y
District
of
Interest
On
8
2,909
2,925
3,Wt5
39
69
61
106
Treasury Departanent
State
Department
35,532
138
g
1*36
39
1,920
1,981
1,993
2,071
183
182
83
82
1.73
public
debt 5/
171
79
lt05
252
583
Poet
Office
Department
650 i/
5
1,028
Justice labor
Depart- Department
iBent
1,063
1,000
1,077
1,281
-1.
1|29
Health,
Departxnent
11.
305
1955
1956 P
1957 to date.
Departanent
7,779
Defense Departaaent
. .
Agriculture
2gk
5,5te kj
5,902
April.
Housing
and Hcne
Finance
Agency
U,2li8
July
August.
Flec&l year
or nositih
li.ltlO
6,905 1/
6,1.73 i/
6,791
6,987 2/
5,782
5,282
U,38l
9
9
9
10
General
Serrlces
Administration
7
6,783
1957 to date.
Independent
offices
5,27't
lt,950
April....
May
June p...
.
27
28
30
37
Funds
appropriated
to the
President
23
23
Expenditures for Federal Hone Loan Bank Boaid are Included under
"Housing and Heme Finance Agency" thrwjeh 1955, and under "Independent
offices" thereafter.
Total includes reserve for contingencies amounting to $200 mllllcci.
Beginning vlth the fiscal year 1957, expenditures for Federal -aid highways are excluded from budget expenditures and Included In trust account
expenditures, see Table 1, footnote 13.
Effective June 30, 1955, Interest on the public debt Is reported on
an accrual basis.
Consists of Federal payment and loans and advances.
Includes estimate of interest on \»ilnveeted funds.
Preliminary,
;
.
: .
. .
Tr
roasury
-BUDGFT RECEIPTS AND EXPENDITURES.
Table 3.- Expenditures by Functions, Fiscal Years 1053 to Date
(In nlUloDB of doUara)
1953
195k
1955
1956 p
MaJco' natlooal aacurlty;
Direction and ooordiOAtlon of djofenae
Air Force defense
•.•••..
•...
kraj defenfle
•
,.,,
Naval defenae
,,,
Other central defense actlrltlee
Develoiaent and control of atcmlc enerB7
Stoclcpllliig and defense prod\x:tlcn expansion.
Military assistance
Direct forces evqjport
,
Total najor natlooal security.
051
052
053
05lt
055
056
057
058
059
. .
International affairs and finance
Ccnduct of foreign affaire
Ssanonlc and technical developnent
Foreign Infonuatlco and exchaz^e activities.
151
152
153
^
Total International affairs and finance.
Veterans' eerrtces and benefits:
Teterans* education and training 2/
Otlisr veterans* reodjustssent benefits \J
Veterans' ctmpensatlcn and pensions
Veterans' Insurance and servicemen's Indeonlltles
Veterans' hospitals and medical care
Other veterans' services and administration
101
102
103
lOU
105
106
Total veterans' services and benefits.
15
12
13
U
15,085
16, '•07
16,872
8,899
9,133
U81
1,857
9,358
9,593
3,951*
15,668
12,910
U.,293
U52
1,895
1,0U5
3,629
19
1,652
587
1,799
86
50,363
li6,90lt
1*0,626
1*0,1*95
150
1,960
106
130
1,511
91
121
1,960
100
1,588
111
2,216
1,732
2,181
1,819
821
68
2,798
105
788
Ij6,2ll2
11,875
39U
1,791
1,008
2,272
659
138
5I46
661*
158
2,1|20
2,ME
loe
757
223
188
150
2,681
57
727
178
298
lt,256
l.,U57
I.,
Labor and velfare
Labor azid aanpower
Public assistance
FrcDotlon of public health
Prcnotl(xi of education
General-purpoee research, libraries, and musetjas.
Correctional and penal Instltutlcus
Other velfare services and sdmlnletratlcD
9ltli
100
782
120
176
'*,755
211
281
277
328
U75
212
213
SlU
215
2i6
1,332
1,'>39
l,li28
1,1*57
318
288
36
27
290
271
35
26
275
321
56
217
iWt
l'»7
115
351
275
60
31
126
2,1|26
2,U85
2,552
2,775
2,125
1,689
256
217
3,508
236
3,951
20lt
2U
150
286
177
217
300
201
2,936
2,557
i*,ina
l*,9l*3
1,122
107
38
815
118
37
l»0U
3"t
960
117
37
38
691
138
U03
13
"*5
1*05
30
i}_
Total labor and wslf are
28
Agriculture and agricultural resourcea:
Stabllltatlon of fam prices sod fam Inccoe U/.
Financing fam ovnerehlp and operation Xl ^....
Financing rural electrification and telephcnes.
CcDservatlcD end developoent Xf
Besearchjand other agricultural services i/
Total agriculture and agricultural resources.
Natural resources:
Coneervatlon and
Conservation and
Conservation and
Ccuservatlon and
Becreatlcnal use
General resource
351
352
353
35k
355
..
developnent of land and vater 6/ X/*
developnent of forest resources
dovelopaant of mineral resources....
developaent of fish and vlldllfe....
of natural resources
•
surveys and admlnietratlon... ..... ,.
ItOl
We
109
239
317
_JA5_
Total natural resources
39
33
35
35
3>t
Ui
35
1,36U
1,220
1,081
99a
567
1>66
Ii69
572
586
61(7
239
659
275
253
356
251
U09
Cdanprce and housing
PrcnoticD of vater transportation 3/ 2/
Provision of hlgfavaya
Proaotlon of aviation....... ...... •••........
Postal service
Cfwirmgil ty development and facilities 10/ ^/.
Public bousing programs J2/
Other aids to housing loTl^ /
Other aids to business i^i^
Regulation of coBwrce and finance
Civil defense
Disaster Insurance, loans, and relief l6/. . .
271*
:
511
512
513
51''
515
516
517
518
519
520
521
Total coaasrce and housing.
General goverment:
Legislative functions
Judicial functions
Executive direction and mansgeanent
Federal flnanc lal management
General property and records manageonent
Central pereconel management and employment costs
Civilian veather servloea
Protective services and alien control
Territoriee and possessions, az^ District of Colmbla.
Other general govertnent
Total general
601
6oe
603
601.
605
606
607
608
609
610
govement.
(Continued
312
527
78U
1*57
"•5
37
56
29
uia
-111
135
51
-UOl
-U5
-lll2
270
30
30
17
-330
JtOlt
-75
'•5
38
Ul
60
l42
56
12
1
12
II*
2, 612
909
1,622
2,131
1.9
"»9
60
29
11
Ul2
185
387
28
29
31
77
38
12
12
'•31
"*75
IM
U5
33"*
1".7
11
Ut9
155
93
26
160
55
lUo
1,1*7^
on follcvlng page)
l&t
213
25
157
67
139
21*1
1,239
1.201
1,633
53
3"*
188
69
RuUeti
.
.
OcTober
.
Mh
.BUKJET RECEPTS AHD EXPENDITUEES
Table 3.- Expenditures by Functions, Fiscal Years 10S3 to Date
(Continued)
(In mlllloDs of dollars)
1953
iDtereet:
Int«re8t on the public debt....,
Zatereat on refunds of receipts
Jnterest on wUnTested fundB....
651
652
653
1951*
1955
1957
Jul7
1956 P
6,5*
6,362
6,370
75
5
83
5
62
5
6
6.583
6,1*70
6,1*38
6,851
631
Tkfifk
67,772
64,570
66,386
5,51*2
Total interest
6,792
627
It
Ibdlstrlbuted
Total net budget expendlturee ....
Source: Figures for 1953-55 are frcm the 1957 Budget of the United Statoa
Gorermient, Special AnalTsle L; flsxcree for 1956 Kre "b^sed. on reports
BTjianitted by Government dleburalng officers and are classified by IndlExpenditures are net of receipts of public
Tldiial apptroprlatlon Items.
enterprise funds, llils table supersedes the one published prior to
the July 1956 issue of the "Treasury Bulletin," uhlch showed expenditures by major functions only, vlth I956 figures based on monthly
etatement detail.
See footnote U.
yj Expenditures for 195^ include those made frcm "ReadJusUoent Benefits,
Veterans' Admlnl strati on," applicable to functional classification
102, "Other veterAns* readjiistziient beneflte," the separate amounts of
vhlch cannot be readily determined.
See footnote 2.
57 Erpendltures for 195^ Include those for eooergency assistance to
lAeat, and to frlendljr peoples, applicable to functional
Pakistan
classification 152, "Bconcmlc and technical develonaent" ; for emergency feed program -- cost of canmodltles, applicable to functional
classification 352, "Financing farm ownership and operation"; for
loan to Secretary of Agriculture for conserration program, applicable
to finctlonal classification 35^, "Conservation and developnent of
agrlcultxn^ land and water resources"; and for transfers and other
costs for eradication of foot-and-mouth disease and brucellosis In
cattle, applicable to functional classification 355, "Research, and
other agrlcxiltural services." These expendlt\iree were made frcm
"Ccomodlty Credit Corporation Capital Fund" and the separate amounts
cannot be readily determined.
5/ Expend! turea for 195^ Include those for farm housing made from "Loans,
Fajmers's Ecae Mwdn 1 etrat ion , Agriculture," applicable to functional
classlficatlcn 517, "Other aids to housing," the separate amounts of
^rtilch cannot be readily detennlned.
6/ SipeDdlturoa far 1956 Include those for navigation projects made from
"Construction, General, Corps of Engineers, Civil," applicable to
iO/
22/
—
Footnotes to Table
Footnotes 1 through 6 follow Table 1.
X/ Through 1953 > ccntrlbutlons to the Railroad tbemployment Insurance
Admlnl etraticn Fund were carried in the dally Treasury stateoaent as
mlscellaneouB receipts, while the 1957 Budget docunent Includes them
in employment taxes through 1952. This difference In classification
accounts for the difference in figures from the two sources. Beginning 195^ the coDtributloais are credited direct to the trust accoixit.
For amotnts of the ccntrlbutloas included In budget receipts, see
"Treasury Bulletin" for Februaiy 195'*, page 7.
8/ In the 1957 Budget, internal revenue taxes not otherwise classiflad
are Included in raiscellaneoue receipts.
%j For change in treataent of certain excise tax receipts beginning vlth
the fiscal year 1957, see footnote 13.
10/ Individual inccse taxes withheld hove been increased by $21*9 million
representing adJustBents to correct estlaates for the quarter ended
June 30, 1955, and prior quarters by $11*9 iHUicn and for the qxiarter
ended Septomber 30, 1955,
$100 alllloa. Individual InccBia taxes
not withheld have been reduced by $'^ million rapreeentli^ adjustment
to correct estljoates for 1953 and prior calendar years. The old-age
Insurance taxes and the transfers to the trust fund have been reduced
by the net of these adjustments or $2li6 million. The adjustzaents
were made pursuant to Sec. 109 (a)(2) of the Social Security Act
Aaendjaenta of 1950.
1^ Amointe appropriated to the Federal Old-Age and Survivors Inaurance
Trust Fuad are equivalent to the aootnte of taxee ooUected and
deposited for old-age inauranoe (1*2 U.S.C. UOl (a)). The Social
Security Act AaeDdBants of 1950, approved August 26, 195O
(61* Stat. 1*77), changed in certain respects the basis of transferring the appropriated ftnds to the trust find. Beginning January
1951, the amomta transferred currently for appropriatloa to the
trust ftnd are based en estimates of old-age Insurance tax receipts
made by the Secretary of the Treasury pursuant to the provisions of
Sec. 109 (a)(2) of the Amei^bBents of 1950, aal are adjusted in later
transfers on the basis of wage and self -employment inccme recorde
^
IS/
16/
1
-
2£/
functional classification 5II, "Prcootlon of water transportation,"
the separate amounts of which cannot be readily detexntined.
See footnote 8,
Expenditures for 195^ Include those for flood control and multiple
purpose projects, including powei^ made troni "Operation and Maintenance, Goneral, Corpe of Ikiglneers, Civil," applicable to functional
classification VOl, "Conservation and development of land and water
resources," the separate amounts of which cannot be readily determined.
See footnote 6,
See footnote 12.
See footnote 15.
Erpendltures for 195^ Include those for defense ccBmnunity facilities
and services and for advance planning of non-Federal public works,
applicable to functional classification 515, "Conmrunity develojnent
and facilities"; and for Alaska housing and loans for prefabricated
housing, applicable to functional clasgificatlon 517, "Other aids
to housing." "Dieee expenditures were made from "Revolvir^ Fund,
Liquidating Programs, Office of the Administrator, Housing and Home
Finance Agency" and the separate amounts cannot be readily determined.
See footnote 5»
Erpendltures for 195^ include those for disaster loans and relief
made from "Operations, Small Business Administration" and for disaster
loans made from "Revolving Fund, .qmwn Business Administration,"
applicable to fxmctional classification 521, "Disaster Insurance,
loans and relief," the separate amounts of which cannot be readily
detennlned.
Erpenditin^s for 1956 Include those for lending program - public
agencies, made frcm "Reconstruction Finance Corporaticn Liquidation,
Treasury and applicable to functional claselflcatlon 515, "CammBilty
developnent and facilities," the separate amounts of which cannot be
readily detennlned.
See footnote lli.
l£.8a than $500,000,
p ft:*ellmlnary
(Continued)
maintained in the Social Security Mainistration. The anotnt of
old-age insurance tax refunds is paid from the trust fimd as a relfflbin*seaent to the general fmd.
Kicludes the Government's contribution for creditable military service
under the act of April 6, 19l*2 (56 Stat. 201*). Beginning 1952,
amounts are appropriated to the Railroad Retirement Accoimt equal to
the amount of taxee under the Railroad Retirement Tax Act deposited in
the Treasury, less refunds, during each fiscal year (65 Stat. 222 and
Stat, 371), and transfers are made currently. Previously, annual
appropriations were baaed. In effect, on estimated tax collections,
with any necessary adjustments made in succeeding appropriations.
The Highway Revenue Act of 1956 (Title II of Public Law 627, 8l*th
Congress, approved June 29, 1956) eetabllahed a Highway Trust Fund
fran which wlU be made, as provided by appropriation acts, Federalaid highway expenditures after June 30, I956 and before Julj 1, 1972.
The act appropriated to this fund amounts equivalent to specified
percentages of receipts fran certain excise taxes on motor fuels,
motor vehicles, tires and tubes, and use of certain vehicles, and
provided (Sec. 209(c)(3)) that the amounts appropriated should be
transferred currently to the trust find on the basis of estimates by
the Secretary of the Treasury with proper adjustanents to be made in
subsequent tranttxers. Previous to the fiscal year 1957 corresponding
excise tax receipts were Included in budget receipts, and Federal-add
highway expendltin?es were Included in budget expenditures.
Interest on refunds is Included in expenditures in Table 2. Relmbm-sement by Federal Old-Age and Survivors Insurance Trust Fund for
refunds of taxes for the flaoal year (see footnote 11) is netted
against internal revenue refunds for the month in which the reimbursement IS made.
Transfers for the fiscal year 1955 were reduced by $300 million as
an adjuslaent for excess transfers to the trust fund of $90 mllllco
in 1952 and $210 mllllan In 1953, pursuant to Sec. IO9 (a)(2) of the
Social Security Act Amendments of 1950.
n.a. Not available.
Lses than $500,000.
p ft^llmlnary,
^
ii/
^
ll*/
15/
*
-
.
,
Treasury Bulletin
TRUST ACCOUMT AMD OTHER TRANSACTIONS.
Table 1.- Summary of Trust Account and Other Transactions
(In Kllllonfi of dollars)
Fiscal year
or month
Set receipts, or
Trust and deposit fund accounts
expenditures {-),
frcn trust account
Bet receipts, or
Expsndltures
and other trans
Receipts
expenditures (-)
actions
-^
IS"*
1950
1S51
1952
1953
99
6T9
IU7
tSS
195l>
1,890
-281
3,852
3,855
3,760
Het sale, or Inrestaent
(-), hj GoTerassnt
sgencles In public debt
securities Xl
Vet sale, or redeaaptlon
(-), of securities of
OoTercMent agencies In the
arket
5,71"t
3,8BU2/
6,669
7,796
8,807
8,929
6,950
•ez
3,9't5
3»
9,155
9,536
6,769
-e,3n
-711
-3,557
-3,636
-3,301
952
5,169
It,
-72
-a?
328
231
2,386
-Zi&
2,296
U,685
9,389
1957 (Est.)...
279
2,500
lit, 200
11,700
-e,i«63
1956.sranuar7..
-162
127
-533
139
90J1
373
-33
-It
371
1,009
757
265
«
-120
-135
936
833
871
1,605
l,6l6
1,006
669
353
783
-i.oci
51
-172
26
83
617
1,112
1,029
801
-277
-703
22
1955
1956 P
,
Pebrufliy.
March
April
Ma;
June p
.
,
July
Auguat...
9913/
8,5l'5
-1,368 a/ i/
-2,687
2/
^
U/
*
p
602 i/
173
128
to
870
761
l,'tl9
Source: Actual figures through 1952 are frcD the dally Treasmy statement and thereafter frcrn the mcDthly stateaent of receipts and expenditures of the Goremnent (for explanation of reporting bases, see
page II); estlnates are frcn the midyear rerlev of the 1957 Budget,
released Ai«ust 28, I956.
Prior to 1951 net investment in public debt securities by certain
trust sccounts and by deposit fund accounts Is Included In trust and
deposit fund account expendltiires and excluded frooi net Inrestoent by
Gorenraent-agenclee (See Tables 3 and U).
2/ l^luies Foreign Eccoanlc Cooperation Trust Fund (see page 1); recelpts were excluded in 19lt8.
-C.OJlt
a/
k7
lU
Uider a rerleed classification In the mccthly stateaent, effective
July 1, 1955, the security transactions of Coverzment-eponsored
enterprises are Included in deposit fund account expenditures (net)
axtd excluded fraa net Investaient by Goverrment sgencles In public debt
securities (see Table U) and froo net redemption or sale of obligations
of Goverment agencies In the market (see Table 5). Figures previously
published for the fiscal year 1955 have been revised to the nev classlcatlon basis.
Guaranteed securities Included beginning 1955 (see Table k)
I«ss than $500,000.
Preliminary.
Table 2.- Trust Account Receipts
(In fflllllans of dollars)
Fiscal year
or month
Federal Old-Age
and Survivors
Insurance Trust
Fund
Ballroad
Petirement
Account
Ubeaployment
Trust Fund
Rational
Service
Life Insurance Fmid
Inaxirence
Govenmkent
employees *
retirement
Fund
funds
Government
Life
Blgbvay
Trust
Fund 1/
t
.
,
Mh
OcTobfi-
TRUST ACCOUHT AND 0THE3? TRANSACTIONS.
Table 3.- Trust and Deposit Fund Account Expenditures
(In mlllioos of dollars; negative figures are exceea of credits]
TniBt accoimte
Plecal year
or month
Total
J/
19't9
1950
1951
195a
,
6,950
3,9't5
l',95S
Total
truet
accotmte 2/
Federal Old -Age
and SuTT Ivors
Insiirance Truet
Fund
3,'tlO
6,85li
661
'*,139
1,569
Uttemploy-
Railroad
Petlremeat
Account
ment
Truet
Fund
278
30k
321
78it
6,769
8,5^5
9,389
7,327
8,469
9,199
3, '•05
502
1,7'»5
'','•87
5,551
585
611
1,965
1,393
6,550
692
1,603
50
50
51
153
152
163
142
52
52
52
52
52
11,700
1956-Januai7..
February.
March....
90l»
793
870
761
886
832
•55
1,006
669
783
812
806
766
1481
1,029
801
809
l»95
91'>
1*97
April
May
June p .
.
July
Ai^uet...
1.68
lt91
1*90
^7
kll
Bit
1*30
88
507
U95
399
538
623
538
512
195^
1955
1956 P
391
l,0lt9
1^65
1,010
2/y
W»l
77
82
82
2,067
2,750
Other trust
accounts
363
61
111*
61U
996
588
5,298
5,698
fimde
Highway
Trust
Fund i/
526 2/
370
387
3''8
,988
5,169
Gove rnme n
employees *
retirement
222
268
271
300
l,31lt
2,026
900
1953
1957 (Est.)...
Govenssent
Life
Insurance
Fund
National
Service Life
Insurance
Fund
590
561
1*13
6/
1,150
'•3
50
'•5
i<3
133
kg
46
1*8
II16
'•5
1*5
126
117
'•3
1.7
Ua
116
33
37
7
121
119
"•3
U7
Ul
hk
1.7
137
Deposit fund accounts (net)
Fiscal year
or month
Toted deposit
fund accounts
2/
1H4
96
-I9U
19''9
1950
1951
1952
-3l'6
il/
1953
-558
56 J£/
190
1956 -January,
Febroaiy,
March...,
April...
May
June p..
July....
August..
6/
m
-16
-71
-137
18
Investment In
public debt
securities
-395
-120
2/
-1*37
2/
aJ
6/
6/
-k
13
2
285
70
63
-3
-U
I*
1*9
Other
expeolltures
%
5/
310
2/
-395
-120
-1*37
170
51*8
-8T2
6/
99
331
6/
Other deposit
fund accounts
11*0
10/
10/
-505
,
1*22
-1*10
-121
56
183
§/
-289
U5
-50
-lO
-7
-51
-30
-73
36
-88
197
3
-11*1
1
-17
-38
56
17
220
3
10
-te
218
-1J3
3
35
-58
1(6
13
-116
Source: See Table 1.
1/ For security transactions included In expenditures prior to 1951 and
beginning 1955, see footnotes 2, 8, 10, and 12.
2/ Prior to 1951, Includes net investment in public debt securities by
certain accounts (see Table U).
3/ See "Budget Receipts and Expenditures," Table 1, footnote 13.
5/ Includes District of Columbia operating expenditures, Indian tribal
funds, expenditures chargeable against Increment on gold, and trust
enterprise funds (itft). The Railroad lAiamployment Insurance AdmlnietratlCD Paid is Included beginning with the fiscal year I95I* (see
Table 2, footnote 2), and the Federal Employees' Insurance Fund (net)
from its eetabUshment in August 1951*.
£icludes Foreign Econmilc Cooperation Trust F\ald (see page 1); receipts were excluded in 191*8.
6/ The ccmbined estimate for "Other" trust accomta and all depoelt fund
accounts is $553 dIUIchi.
^
Bedeoiptlon of Government
agency obligations In
the market
310
195'*
1957 (Est.)..,
Total 1/
'4
-529
1955
1956 P
GoTemnent-sponsored enterprises
1/
8/
2/
12/
^/
3^
*
p
n.a.
Prior to 1951, Includes net Inveetment in public debt securities 17
certain agencies (see footnotes 8 and 10); beginning with 1955, includes net security transactions of Govemmsnt-sponsored enterprises
( see footnote 12 )
Included In total of deposit fund account expenditures of Govemmentsponsored enterprises.
Excluded from deposit fund accomit expenditures and inoluled with
similar security transactions of other agencies, shown in Tables 1*
aid 5.
Includes net investment in public debt securities.
IiKlules transactions by the Air Force and the Anoy beginning 1952.
For revised classification of security transactioos of Govemnentsponaored enterprises, see Table 1, footnote 3.
Less than $500,000.
Preliminary,
Hot available.
-
..,
,
Treasury Bulletir
THUST ACCOUNT AMD OTHER TRAHSACTIOKS
Table 4*- Net Investment by Government Agencies In Public Debt Securities
(In mllllcxiB of doliATs; oogative flguree are excess of sales]
Trust accounts
?lecal year
or month
Federal Old -Age
and Survivors
Insurance Trust
Total
trust
accounts
FlBMl
2,3112/
Pallroad
Betlrement
Account
Hatlcoal
Serrlce Idfe
Insurance
aent
Trust
Fund
FlSMl
19"^
1950
1951
1952
1953
3,557
3,636
3,301
3,369
3,355
3,068
1,678
1,950
1,5^5
280
590
59
195''
2,05U
1,522
202
-21*8
23
1955
1956 P
1,362 i/
2,687
1,688 i/
1,236
2,586
11*1
-51*5
73
121
258
135
1957 (let.)..,
2,1463
2/
1956-J«miftr7,
FtobruBTy.
tttrcb...,
April....
mj
Juae p .
.
July
August..
-Jioe
-373
IW)
69
-353
983
1,004
277
703
2/
Total
public
enterprlae
finds
employee B*
Insurance
Fuid
retireiaeat
Other trust
Bccouata 1/
tvmde
W7
3I16
-160
353
1,1*11*
338
357
-721.
-1,91*6
32
-26
650
91*
8
573
1*1.9
583
-2U5
1
-e
621*
9
-6
588
9
-65
-1
-16
252
1
311*
11.
51*8
78
1,21*1
1,1.63
5/
51.3
tt.a.
n.a.
-379
128
66
-21*7
-37
-UB
-I*
-3
-3
33
70
176
1*0
7
25
-139
J*
J*
-6
7
-5
-12
21*
-355
975
-179
-39
-85
-9
61.8
39
267
6
-6
-6
15
-1
980
1*71*
98
16
153
276
698
-222
-33
II*
-8
33
-6
381
la
275
-1*
-5
Federal
Housing
Adjnlnls-
tratlcn
Total
Govemnentsponsored
enterprises
32
11
1*1
101
21
7
1951*
79
-77
59
-86
U
73
12
-2
1955
1956 p
126
101
9
-35
26
8
207
-1
10
J.
521
13
Goreranent-apcnsored enterpo-leee
Federal Savlnge
and Loan
Insurance
Corporation
101*
1951
1952
1953
Ufo
l,29"t
Public enterprise funds
Flec&l year
or Bcnth 6/
Cover
8U
179
153
1*1.3
Banks
for
cooperativee
Federal
Deposit
Insurance
Corporation
Federal
heme
loan
banlcs
banlca
21
95
61
62
81*
i/
Federal
87
102
311*
18
Memorandtin jj
958/
13
69
15
1957 (Bet.)...
-1
18 8/
17
170
98
82
51.8
101*
1.25
n.a.
155
105
50
285
70
68
217
1*
56
-5
63
1
61
1*
-15
-30
1956 -January.,
Fabruary.
March....
7
12
2
11
6
k
1
2
Asanl
Hay
JuDe p...
2
-3
2
3
-U
8
1*
3
1
1.9
21*
13
3
8
-17
13
1
10
3
-12
2
35
-58
1
5
July
August..
Source: See Table 1.
1/ Prior to 1951, consists of Adjusted Service Certificate Fuid.
Prior to 1951, net Inrestaent by smaller trust eccounta and by deposit
f ixid accounts Is Included In expenditures In Table 3 •
i/ For explanation of difference frctt Budget figures, beglmlng 1951*, see
"Cash Incone and Outgo," Table 7, footnote 1.
k/ Excludes net Investzoent by Government -sponsored enterprises beginni ng
VI th the fiscal year 1955 (see Table 1, footnote 3).
Inclines net sale of $300 mllllcn for adjistaent of excess transfers
of tax receipts In 1952 and 1953 (see "Budget Receipts and Expenditures,"
Table 1, footnote 15).
^
^
19
10
1
1*7
31*
-58
Prior to 1951, net Investaent by public enterprise funds vas Included
In budget expenditures, and net investment by Goverment-sponsored
enterin-lses vas ioclivled in deposit fmd expenditures (see Table 3).
2/ Het Inveetaient by Governaent-eponeored enterprises beginning 1955 Is
iiKluded in deposit f«id expenditures in Table 3
8/ Beginning 1955, figures include net transactions in guaranteed securities by Federal Housing ;ulmim strati en and Federal Rational Mortgage
Association.
•
Less than $500,000.
Preliminary.
p
n.a. Rot available.
6/
•
October
I9i()
THUST ACCOUNT AND OTHER TRANSACTIONS-
Table 5«- Net Redemption or Sale of Obligations of Government Agencies in the Market
(In millions of dollars; negative flgnree Indicate net ealee)
Securitlee giuuranteed
tgr
the Ublted States
Public enterprise funds
PlBcal year
or month
Total
guaranteed
CcuBodlt;
Credit
Corporation
Federal
Farm
Mortgage
Corporation
Federal
Houalog
Adjmnlstratloo
10
rcasury
Tr
Bullet u.
.CASH INCOME AND OUTGO.
The caeh Income and outgo data appearing In the
"Treasury Bulletin" have been revised, beginning with the
representing cash received from the public. Federal cash
borrowing from the public includes net borrowing by the
February 195^ Issue, to a basis consistent with receipts
from and payments to the public as derived In tue 1957
Budget of the United States, Special Analysis A.
Recon-
Treasury through public debt transactions and also net
borrowing by Government agencies and Government-sponsored
enterprises through sales of their own securities.
ciliation to cash deposits and withdrawals In the account
It excludes changes In the public debt which do not rep-
of the Treasurer of the United States is shown on the
the amount of net cash borrowing from, or repayment of
The net
effect of all these transactions with the public is
reflected in changes in the balance in the Treasurer's
borrowing
account and in cash held outside the Treasury.
same basis as in the Budget document.
to,
the public.
There Is also shown
By these arrangements,
data in
resent direct cash borrowing from the public.
aceordanos with the Budget classifications are made avail-
able month by month.
Figures for back years have been
maJie them as nearly
revised where necessary in order to
comparable with the 1957 Budget classifications as
available data will permit. For this reason certain of
the figures differ somewhat from those published in
earlier Budget documents as well as in the Bulletin.
Cash transactions through the Treasurer's account are
similar in general concept to those included In the Budget
series,
but are limited in coverage to transactions whiah
affect the balance In that account.
On the other hand,
they Include receipts from the exercise of monetary
authority, which are excluded from receipts from the public
in the Budget series.
The Budget series of cash transactions is designed
to provide information on the flow of money between the
public and the Federal Government as a whole, and therefore
Beginning with figures for the fiscal year 1953, the
series of transactions with the public is based on the
includes transactions not cleared through the Treasurer's
"Monthly Statement of Receipts and Expenditures of the
Receipts and payments include transfactlons both
United States Government," which Is compiled from reports
in budget accounts and in trust and deposit fund accounts.
Operations of Qovemment-sponsored enterprises are included
by all collecting and disbursing officers and includes
those transactions not cleared through the Treasurer's
inpayments on a net basis as reflected In Treasury reports.
account.
Major Intragovemmental transactions which are reported as
both expenditures and receipts are eliminated from both.
account, beginning with the figures for the same year,
account.
Noncash Items which represent accrued obligations of the
Government to make payments In the future are also eliminated
from expenditures but are added later when actual payments
are made.
Receipts from the exercise of monetary authority
(mostly seigniorage on silver}
are
excluded
as
not
Cash deposits and withdrawals in the Treasurer's
reported In dally Treasury statements.
are
For those years
prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of daily Treasury
statements which reported separate classifications for
trust account transactions, etc.
budget results,
..
.
October
)
11
V^ll)
CASH INCOME AHD OUTGO
Table 1.- Sunmary of Federal Goveminent Cash Transactions with the Public
(Id millions of doUare)
Ret cash transactions with the public
other than borrowing
Fiscal year
or month
19''9
Federal receipts frcm
the public
Federal payments to the
public
1950
1951
1952
"tl.STfi
It0,9l40
'*3,1'»7
53,390
68,013
''5,797
67,96'.
1953
71,''99
195''
1955
1956 P
71,627
67,836
77,067
1957 (Est.)..
1956-Jajjuar7
February
March...
April...
'«3,570
Excess of
receipts, or
payments (-)
1,006
-2,207
7,593
Plus: Becelpte from
eierclee of
monetary
authority
1.9
-2,513
4,229
-5,796
-505
76,773
-5,27'.
2,919
56
71,860
70,538
72,593
-232
-2,702
2,512
1,809
29
'.,'.75
-4,1.36
23
80,835
77,151
3,681.
-4,089
lt,96U
5,570
5,679
-606
-717
27 1/
1
7,1''0
1,1.62
25
2
11,981
5,861.
6,116
-3,832
3
-197
-106
4
3
-4,931.
2
-439
2,372
3
"•,851.
6,008
-1,15'.
6,00'.
June p..
6,581
12,150
577
5,107
July
August..
3,961.
5,895
6,686
-1,931
6,286
1957 to date.
10,250
12,582
-2,331
Mar
Plus: Ret cash
borrowing frao
the public, or
repayment (-)
7,0U
-1«X)
Source: Actual figures through 1952 are based on the dally Treasury
statement and thereafter they are baaed In part also on the monthly
statement of receipts and expenditures of the Govenmient (for eiplanatlGQ of reportii^ bases, see page II); estimates are based on
the midyear review of the 1957 Budget, released August 28, I956,
Bluals:
Treasurer's account
balance, increase,
or decrease (-)
46
-1,462
25
2,047
1,639
-388
-2,299
43
68
73
2
Cash held outside
Treasury, Increase,
or decrease (-)
2,096
-551
331
-312
-269
-546
168
-1,293
1,504
2,316
-29
-16
-28
-1,360
548
287
-112
257
13
-73
-2,369
2,019
1,934
1/
p
Change in cash balances
-349
-43
including expenditures frcE 1957 appropriations anticipated for later
transmission to the Coogress.
Includes excees profits tax refund bond redemptions (see Table 3).
Prellmlnai7.
Table 2.- Summary of Cash Transactions through the Account of the Treasurer
of the United States
(In millions of dollars)
Fiscal year
or month
Net cash transactions other than borrowli^
Cash
deposits
Cash
withdrawals
1949.
1950.
1951.
1952.
1953.
41,622
40,965
53,433
68,081
71,345
40,462
43,079
45,718
67,794
76,407
1954.
1955.
1956.
71,815
67,758
77,079
1957 (Est.)...
1956 -January
Februaiy.
March....
.
April.
May...
June.
July
August ....
September.
1957 to date.
Access of deposits,
or withdrawals (-)
1,161
-2,114
7,715
Plus: net cash borrowing, or repayment of
borrowing ( -
Equals: Treasurer's
account balance, increase, or decrease (-)
-5,062
-2,622
4,161
-5,875
-674
2,763
-1,462
2,047
1,839
-388
-2,299
71,974
69,888
71,984
-159
-2,130
5,096
2,255
1,579
-4,765
2,096
-551
331
80,862
77,319
3,543
-4,089
-546
4,729
7,069
12,351
5,323
5,600
-699
15
-3,887
-1,293
1,504
6,149
-594
1,489
6,203
6,879
12,192
5,428
6,200
6,898
-1,061
680
5,293
-299
-132
-5,006
-1,360
548
3,701
6,579
6,877
5,603
6,855
5,649
-1,902
-276
-467
2,295
1,228
-979
-2,369
2,019
249
17,157
18,107
-950
849
-101
Source: Actual flgiuree are based on the dally Treasury statement; estimates
are based on the midyear review of the 1957 Budget, released August 28,
1956, including expenditures frcm 1957 appropriations anticipated for
later tranamlsslco to the Congress.
287
2,316
287
Figures in the first four colimins of this table may differ scmsirtiat frcm
those originally published In the dally Treasury statement because of
subsequent reclassification of certain transactions.
.,,
12
Treasury Bulletin
CASH INCOME AND OUTGO
,
Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to
Cash Deposits In the Account of the Treasurer of the United States
(In mllllonB of doIlATs)
Becelptfl
Lobb:
Deductlona fixn r»celpte
Reconciliation to caah traneactions iJQ T3reaaurer'a account
BiucLls:
Plscsl year
or month
19lt9
Bulget
(net)
Trust
accotnt
i/
2/
37,696
36,U95
1950
1951
1952
aeDtal
transactions
SrcesB
profits
tax refund
bond ro-
(sM
desiptlona
IntragoremTotal
Talile 5)
Receipts
froB
exsrclsa of
monetary
authority
Federal
recelpta
frca the
public
Total deductions
Plus; Receipts
frco exercise
of monetary
authority £/
U3,lilO
1,781.
U6
U3,l6U
2,197
1,930
25
1,831.
2,221*
1.1,576
Uo,9l«3
55,361*
1*3
1,971.
1*0,965
53,1*33
2,U6
68
68
68,081
73,751*
2,185
2,255
53,390
68,013
1.3
70,198
71,1.99
56
-210
71,31*5
T3
29
llU
-107
23
-U
71,815
67,758
77,079
1953
611,825
2,199
56
6U,655
60,390
68,lUl
9,155
9,536
11,685
T3,8U
2,U0
73
69,926
79,825
2,061
2,735
29
2,183
2,090
23
2,758
71,627
67,836
77,067
1957 (Est.)..
69,800
llt,200
8I*,000
3,138
3,165
80,835
1956-Januai7.,
February,
March,.,,
U,68li
371
1,009
757
5,055
90
92
I.
7,201*
61.
7,ll«)
2
12,070
62
86
April
May
June p.
,
25
27 2/
1
,961.
80,862
-236
-53
.,729
7,089
12,351
89
11,981
3
368
871
1,605
1,616
'*,953
6,651*
96
70
100
U
-1.90
l*,368
3
13,192
l,0ll0
1,01*2
U,85U
6,581
12,150
295
to
6,879
12,192
3,1-85
1,112
'!,597
631
l.,95l.
1,1*19
6,372
83
633
86
3,96U
6,286
-265
290
3,701
6,579
14,082
July
August,.
Source:
6,195
U,313
27
1.1,622
1.6
195^
1955
1956 p
61,391
Equals;
Cash
depoelts
In the
Treasurer's
account
5,71l»
6,669
7,796
8,807
8,929
'*7,568
MJustznent for
net difference
due to reporting method (See
also Table U)
5,050
11,576
73
See Table 1.
2
2
3
Footnotes follon Table 7,
Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to
Cash Withdrawals from the Account of the Treasurer of the United States
(In mllllcos of dollars)
less: Deductions
fran expenditures
Srpeodltures
Fiscal year
or month
Budget
i/
Trust
and
deposit
fuoi
accoi33t
Intra-
govom-
GoremrBBntsponaored
enterprise
(net) i/
mental
transactions
2/
(See
Accrued
interest
and otbei
noiKash
expenditures
(See Table 6)
Payments to the public not
reflected in the Treasurer's account
Cash
vlthdravals
frcn
Prcm caah
held outside
the Treasury
Treasurer's
account
Less:
Table 5)
191.9
1950
1951
1952
1953
39,507
39,617
w.,058
3,852
-3U1
1*3,018
1,781.
661.
1.0,570
6,961.
3,651.
-83
1*6,1*97
1.3,11.7
1.8,002
65,1.08
5,317
5,288
-366
70,359
79,W.3
2,197
1,930
2,116
2,199
1,153
291
275
279
1.5,797
67,961.
1.72
76,773
-1*356/
98
32U
7'.,5l.2
2,U0
572
73,211.
76,100
2,061
2,735
615
772
71,860
70,538
72,593
-257
312
269
71.
,271.
7,201.
-U9
6/
AdJUSt2MDt
for net
difference
Frcitt proceeds of salee
due to
In the market of agency report li^
obligaticns and public method
debt securities (See
(See also
Table 7) S/
Table 3)
108
68
79
170
155
1955
1956 p
67,772
61., 570
66,386
9,389
1957 (Bst,),,,
69,093
11,700
-131.
80,659
3,138
370
77,151
-168
1956 -January..
February.
March....
5,271.
901.
5,570
5,679
-Ifl
16
-53
6,107
233
60
156
29
870
761
5,893
5,800
90
".,950
-285
-eo
5,861.
28
10
55
April,...
May
June p, ,
5,387
1,006
669
783
-25
-1
55
6,368
1,029
801
-1*5
1951*
July
August
Source:
See Table 1,
5,399
5,1.67
6,783
5,51.2
5,902
8,51*6
10
62
86
Eiluals:
Beconcillatlon to cash transactions
in the Treaaur«r'a account
Equals:
Federal
payments
to the
public
256
230
329
the
1.0,1.62
1.3,079
''5,718
67,791.
76,1*07
111.
71,971.
-107
-11
69,888
71,981.
77,319
-236
-53
5,323
5,600
368
6,11.9
96
70
265
61
6,008
6,004
-13
103
-1.90
5,1.28
6,13".
73
26
7,622
1,01.0
-1.63
7,01.1.
112
73
295
uo
6,200
6,898
6,526
6,713
631
-1
28
-56
5,895
6,686
1.1.
77
-265
290
5,603
6,855
83
Footnote follcw Table 7*
.
.
'
,.
October
M()
13
CASH INCOME AND
0UIX3O.-
Table 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments
(In
Fiscal year
or moDth
Budget receipts
which are also
Interest paid
to Treaflui7
toy puhllc
Govemment-
enterporlse
Other
1/
ceipts which
are also
tXTiet fund
expenditures
2/
funds
19'»9
32
73
1950
1951
1952
1953
170
18
20
25
59
87
102
IW
6
W?!*
1955
1956 p
228
6
173
297
1957 (Eat.)..
1956 -January.
March....
April.
public deht
securities
1<0
81tl
29
1U7
10
880
892
987
Interest
on uninvested
trust
funds
Payroll deductions for
Other
enqiloyeee
5/
retirement k/
1,09't
327
358
378
ku.
teo
366
1.63
7
18
16
8311
2
2
398
2
573
3
Total
1,784
2,197
1,930
2,116
2,199
7
16
STk
167
166
519
1^1
10
105
1,292
590
661
3,138
26
15
«
2
2
3
3
90
3
6
17
53
32
5
k
62
86
3
2
2
1*39
60
11.
2,110
2,061
2,735
33
U9
8
795
5"*
1»
'•5
85
l.OltO
33
1
631
It
36
61
553
9
3
83
It
Source:
InTestsient In
1*30
1
110
Ai^ust,.,
Interest on
eponsored
enterprise
expenditures
2/
Trust fund
receipts which
are also
trust fund
expenditures
6/
1,188
1,173
1,207
.
July
Trust fund receipts rtilch are also
"budget expenditures
68
81
100
May
June p.
..
mlUlone of doUare)
B^id^et receipts which are
Budget realso bxil^et expenditures
3
See Table 1.
96
70
5
Footnotea follow Table 7.
Table 6.- Accrued Intereet and Other Noncash Expenditures Excluded from Payments
(In mllllcna of dollars)
Fiscal year
or Bionth
Ret accrued
Interest on
eavlnga bonds
and Treasury
blllB 1/
Clearing
account for
public debt
Interest 2/
Noncash expenditures Involvli^ Issuance
of public debt securities 2/
Special notes of U. S. 6/
Adjusted
Aimed forces
service
leave bouds 5/ Intemat 1 onal International
bonds hj
Monetaiy Fuzvi
Bank aeries
aerlea
19l>9
561
-2
-161.
1950
1951
1952
571.
-H
638
758
718
-95
-160
-68
1953
-1
-1
-1
1951*
521.
68
1955
1956 p
1.97
26
-15
1957 (Est.)...
3to
1956-Janufli7..
51.
359
February
March...,
-7
1
AfTll
Hay
Jme p .
22
1.56
3".
.
July
1.8
August.
Source:
58
See Table 1.
21
-25
-Ul
Ret Inveatsnent
in public debt
securities
Included in
expenditures
Clearing
account
for
checks
outstanding,
etc. 8/
-98
6
366
661.
207
28
1.83
1,153
-214
-UOl
-250
275
279
-U5
572
615
772
13
-9
-21.
28
-11.
-8
-7
109
156
175
-8
50
-12
370
30
11
38
-1
-1
*
-209
52
132
233
60
156
193
172
-953
-1
-1
•
298
177
-1
-1
5
-1
-1
-11.
-55
161.
1.72
-6
56
76
-221
265
61
1.33
-1.63
-11.
-55
Footnotes follou Table 7.
-332
-199
..,..
lU.
Treasury hulkCASH INCOME AND OUTGO.
Table 7.- Derivation of Federal Government Net Cash Debt Traneactlone with the Publ ic.
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Het Ixaroirtng, or repajnent of boiroirtne (-); In
mllUons of doUare)
Change In public debt and agency obllgatlona held by the public
Fiscal year
or month
Plus: Ret sale of obllgatlcsis
of Oovemment enterprises In
the market
Public debt
Incraaae, or
decrease (-)
Public and
trust enterprise funds
CorenaDentspoDsored
enterprises
U78
-I46
-2,135
3,883
6,966
-8
10
U.k
-59
5,189
3,115
-1,623
-lU
6ae
173
1957 (Est.)...
-1,351
21,2
1956-January
February.
March, ..
-720
-e
60
128
-3,764
llO
50
10
U7
-36
19'<9
1950
1951
1952
1953
,
195^
1955
1956 P
.
.
April
Hay
Jme
-556
p.
.
July
August .
.
Fiscal year
or mcnth
-e8
-11.
-iioe
6
28
313
69
10l»
81.
33
3,369
3,355
3,068
101
79
179
153
11
269
872
1,686
1,236
2,586
-77
126
101
171
5U8
3,130
2,454
-3,813
155
-3,706
7
12
2
285
70
63
-634
-3,846
-11
49
-17
-4,876
35
-58
2.337
2,301
-186
66
>*!
-355
975
2
Ii8
51
38
980
2I|
-105
2,919
22
-10
lU
276
698
Deductions for aoncash and other transactions
Special notes of U. S. 4/
International
Bank
series
International
Monetary
Fund
series
581
574
638
758
718
-164
-95
-160
-68
-24
-25
-41
-98
207
1954
1955
1956 p
524
497
456
-14
-8
-7
1957 (Est.)...
340
1956-January.
February.
March
54
-7
1
22
34
it/
-181
4
-406
Less:
Excess
profits
tax
refund
bonds 2/
Total
deductions
-4
-1
-1
287
642
-1
Bluals:
Net cash
borrowing
frcD the
public, or
repaynent
Transactions
not
reflected
In
the
680
28
722
2,919
109
156
175
618
644
623
2,512
1,809
-4,436
256
230
329
-8
50
382
-4,089
-1
-1
30
11
83
-717
•
3
25
-14
-14
-3,832
-1
-6
15
UO
-197
-106
-4,934
-1
«
76
58
July
August .
.
48
21
-1
-1
-14
-55
489
57
33
-35
Footnotes on following page.
-439
2,372
Equals:
Net
cash
borrowing
Uurough
the
Treasurer's
account 6/
108
68
79
170
155
.
See Table 1.
28
-2,513
4,229
-5,796
-505
13
-9
April
May
Juie p .
Source:
8
Issuance of public debt securities representing
expenditures, or ref\nds of receipts i/
Anud
-2,226
4,870
-5,308
175
3,640
U6
2,1^3
-3T9
128
9'»1
Adjusted
serrlce
bonds
Goreramentsponsorsd
entsrprlses
37't
forces
leave
bonds Uj
1949
1950
1951
1952
1953
Public
enterprise
funds
Trust funds
-3,978
Less:
Net
accrued
Interest
on
savings
bonds and
Treasury
bills 2/
Equals:
Increase In
securities
held by the
public, or
decrease (-)
Net Inreetoent In Federal
securities by Gorenment agencies
Less:
Treasurer's
account, or
repayment (-)
-2,622
4,161
-5,875
-674
2,763
2,255
1,579
-4,765
-4,089
-18
10
55
103
26
73
-699
15
-3,887
-299
-132
-5,006
28
-467
77
2,295
.
October
.
Mh
15
.
CASH INCOME
OUTGO
ATTD
Footnotes to Table 3
For further detail, see "Budget Receipts and £zpesdltureB," Table 1.
For fia-ther detail, see "Trust Account and Other Transact! ana," Table 2.
Treated aa nosocaab refund deductions tzxMn receipts yhen Issued and as
cash refund deduotions ^en redeemed.
Conalste of selsniorege on silrer and Increment resulting ftxni reduction
In the weight of the gold dollar; excluded frco receipts frcm the public
but Included in cash deposits in the Treasurer's account.
Includes excess profits tax refund bond redecqitlons, for which a separate estimate is not aTallable,
Less than $500,000.
5/
Prelliniiiary.
p
Footnotes to Table 4
i/
2/
2/
Far further detail, see "Budget Keoelpte and Expenditures, " Table 2.
For further detail, see "Trust Aocouat and Other Trensactions , " Tables 3,
Inclulea net change in balanoee in Goremnsnt-eponflored
kf and 5.
enterpa:*iee deposit fund accoimts with the Treasurer of the Utilted States.
Net operetlne e:q)eiidltureB, or receipts (-), aa moasured by funds provided
by or applied to net security transactions reflected in Treasury reports
(see Table 7) • To a large extent, these Goto rament -sponsored enterprises
secure funds for their operations by direct borrowing from the public or
by cashing Poderal eecan:ltles which they hold, and they apply the
net inccme received fran operations to repayment of borrowing from the
public or to inveelanent In Federal securities. On that basis, not ex-
penditures for operations are shown tn this table In tenas of the
coDblnfid net of dlslnvestaient in Federal securities and sale of agency
obligations In the market, and net receipts frcra operations are shown
in tenns of the combined net of InTestanent in Foderal securities and
redemption of agency obllgatlcne In the marlcet,
Mot reported prior to 195^.
CccLslets of only those marlcet transactions not cleared through the
Treasurer's account.
See Table 7, footnote 1.
Less than $500,000.
Preliminary.
h/
^
6/
*
p
Footnotes to Table 5
i/
2/
^
k/
Federal inteimedlate credit bank franchise tax and, beginning 1953,
also reimbureeiaGnt by Panama Canal CooQ>any for expenses and serrloes.
Includes reimhurseaDent by Federal Old-Age and SurrlvorB Insurance Trust
Fund for administrative expenses and, beginning fiscal year 1953, also
for refunds of taxes (treated as an offset to refunds rather than being
credited to reoeipte); reimbursement bj the District of Colimibla; and
In 191*9, proceeds of ship sales irtiich had been carried in trust
accounts pending allocation to budget receipts from sale of surplus
property
Canslste of payment of earnings and repayment of capital stock to the
Treasury throijeb 1952, and beginning 1955, payment of franchise tax
by banks for cooperatives.
Includes relatively small amoinits of deductions tram salaries paid by
trust funds and Government -sponsored enterprlaee.
^
6/
*
p
CanslBts of Tkilted States and Quv g iuue n t corporation shares of
contribxrtlons to employees* retirement funds, and payimnte to the
Railroad Retirement Account (for creditable military eervloe), the
tiemployn»nt Tmet Fund, veterans' life insurance funds, trust fund
for technical services and other assistance under the agricultural
coneervatlon prcgram, awaanis of Indian Claims Cosnmlseion, and
District of Columbia.
Includes District of Columbia share of contributions to the Civil
Service retirement fxmd, payments by Fallroad Retirement Board to
Federal Old-Age and Sxu-vivore Insurance Trust Fund, transfers from
Civil Service retirement fund to Foreign Service retirement fund
except in I956 and 1957, and transfers frcm Railroad Uaemployment
Insurance Administration Fund to Utiemployment Trust Fund.
Less than $500,000.
Preliminary,
Footnotes to Table 6
X/
2/
i/
h/
5/
Accrued discount on savings bonds and bills less interest paid on savIngs bonds and bills redeemed.
Public debt interest accrued and unpaid beginning June 30, 1955» effective date of the change in accoxmtlng and reporting frcm a due and
payable basis to an accrual basis; for 195'*, consists only of public
debt interest checks and coupoiffl outstanding; net increase* or decrease (-), Not reported as a separate clearing accoun-- prior to 195'*;
interest reported \rtien paid by Treasurer prior to November I9U9,
Treated as nancash expenditures at the time of issuance of the securities end as cash expenditures at the time of their redemption; net
issuance, or redemption (-),
Issiied in I936 in exchange for adjusted service certificates held by
veterans of World War I. The bonds matured in 19^5,
Issued In I9U7 in payment for accumulated leave. The last of these
bonds matured in 1951.
•
Port of the United States subscription to the capital of the International Bank for Reconstruction and Develojment and to the Internftt 1 onfti Monetary Fund was paid In the form of nonlntereBt-bearlng,
nonnegotlable notes payable on demand (see 19^*7 Annual Report of the
Secretai7 of the Treasury, pages U8, 35O, and 385). The last of the
notes leeiied to the Bank was redeemed in 1950.
By wholly owned Government enterprises; beginning 1951, such net Inveetraente are imported separately and are not Included in expenditures
(eee "Trust Account and Other Transactions," Table U),
Checks outstanding less deposits in transit, and telegraj^ic reports
from Federal Reserve Banks; increase, or decrease (-). For public
debt interest included prior to 195^*, see footnote 2,
Less than $500,000.
p
ftrellminary.
6/
1/
6/
Footnotes to Table 7
1/
2/
3/
In this table, beginning 195^+, in accordance with treatment in Budget
documents, net investment in United States seciorltlee by Govemmentspcnsored enterprises includes a small amount by other enterprises
regained as representing net transactlone with the public. In Table U
un4er "Trust Account and Other Transactions," these amounts are inclxiied in trust and deposit fund account investment.
Accrued discount on savings bonds and bills, which is incluled in the
principal of the public debt, less interest paid on savings bonds and
bills i-edeemed.
Treated aa noncash transactions at the time of Issuance and as cash
transactions at the time of redenqytlon; net issuance, or redamptlon
k/
5/
6/
•
P
C-).
Erclialed from borrowing becaxise the transactions are treated as expenditures in Table 6.
Excluled from borrowing because the transactions are treated as de-
ductions frcm receipts in Table 3.
Market transactions in public debt securities and agency obligatlcne.
Less than $500,000.
Preliminary.
,
.
16
Treasury Bulletiti
DEBT OUTOTANDIHG AND TREASURE2?'S ACCOUHT
Table
1.
Summary of Federal Securities
(In mlUlons of doUare)
Bid of
fiscal
year or
Bcnth
19'»9
1950
1951
1952
Total outfltaniliig
Interest-bearing debt
Matured debt and debt bearing no interest
Guaran-
Gt
Total i/
Pukllo
debt
tead
aecurltlea 2/
Total
252,798
257,377
255,251
259,151
252,770
257,357
255,222
259,105
27
20
29
250,785
255,226
232,879
256,907
250,762
255,209
232,852
256,863
266,123
52
263,91*6
271,3''l
266,071
271,260
81
27lt,l*l8
27l*,37't
1*1*
k6
Public
debt
Public debt
Total
2l>
27
2,012
2,150
2,372
2,370
1*1*
2,21*1*
51
80
2,126
2,351
17
Guaranteed
aec un-
teed
eecurltlea 2/ i/
MooetaiT
Pui^
y
Other
5/
2,009
21*5
2,11*8
265
512
1,063
1,270
1,283
2,21*2
1*19
1,27'>
701
613
575
550
298
U37
i,3oe
1,1»U
1,567
1*77
1,7'"2
1*60
857
1,61*5
I167
272,825
272,751
71*
a63,997
268,990
271,785
269,956
269,883
73
2,869
2,125
2,350
2,633
2,868
1955-Decaiiber
280,822
280,769
53
277,851
277,799
52
2,970
2,970
1956-Januai7.,
February.
280, loe
280,01*9
53
58
277,170
277,295
660
725
1,675
1,686
1,672
1.69
I167
59
2,881
2,8l6
2,865
2,811.
276,31*5
April...,
275,8U5
276,791
272,825
275,789
276,729
272,751
56
62
273,133
27l,038
1*65
61
5l*8
1,71*2
1*63
73
2,711
2,752
2,868
1,666
269,956
2,712
2,753
2,869
580
71*
273,078
273,977
269,883
51
56
57
56
735
280,108
276,1*01*
277,221
277,351
273,539
2,879
280,167
MBTota....
666
1,7'<2
1*60
272,719
272,6'»5
71*
270,01*1*
79
273,037
2,675
2,607
1*88
275,565
73
79
2,671*
275,61*1*
269,972
272,959
2,606
1*78
1,728
1,673
1*55
1953
195k
1955
1956
May
Jmie
July
August .
.
268,910
271,7111
273,1*81
Source: Dally Treasury etatewmt.
Includes certain obligations not subject to statutory lljBltatloa.
For amounts subject to limitation, see page 1.
Excludes guaranteed securities held by the Treasury.
Conslsta of PHA debentures beginning March 1953
Special notes of the lAilted States Issued to the International
Monetary Fund In payment of part of tile Ublted States subscription.
.1/
I
Table 2.
2,631*
2,863
589
666
ties 2/
(uatursd)
525
502
1*66
1*57
pursuant to prorlBlona of the Br«ttoa Woods Agreeaents Act. The
notes bear no Interest, are ncmnegotlable, and are pflkjable on deaand.
SlAlXar notes Issued to the International Bank and outstanding
19'*7-19'*9 are Included under "Other."
Includes saTloge etamps, excess profits tax refxmd bonds, currencj
items, and notes Issued to the International Bank (see footnote >*).
For current nonth detail, see "Statutoi? Debt Llsltatlon," Table 2.
Interest-Bearing Public Debt
(In mllllans of dollars)
October
MO
17
DEBT OITTSTAHDINC AND TE^EASURER'S ACCOUNT
Table 3.- Special Issues to United States Government Investment Acounts
(In mllllone of dollars)
Etd of fiscal
year or month
18
Treasury Bulletin
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 5.- Treasury Holdlnge of Securities Issued by Government
Corporations and Other Agencies
i/
(In mllliaos of dollars)
Erport-
Bid of
fiscal
year or
BKmtb
19^
tlon
6,651
8,423
9,067
1950
1951
1952
Federal
Housing
CCBBOdltO^ InqKjrt
National and HcBse
Credit
Bank of
Mortgage Finance
Corpora
Wash lug ton Aasocla- AdmlnlB-
9,561.
a/
tlon i/
1,669
3,193
2,555
1,970
3,612
914
964
1,040
1,088
1,227
1,549
2,038
2,446
4,lB0
7,608
1,347
1,310
1,239
2,233
1,966
1,954
International
Cooperation
Administratrator 4/ tion 2/
Public
Housing
Adninlstratlon
782
964
1,097
1,150
1,189
655
655
130
165
1,203
1,209
1,213
215
61
38
1
30
44
67
337
349
489
Veterans*
direct
loan
1/
65
58
78
52
49
44
39
Ulder
Defense
Production Other
2/
Act of
1950 8/
107
176
270
158
395
416
226
100
100
34
29
14
151
367
491
564
773
1,002
1,144
50
2,276
141
537
1,112
19
74
53
2,321
2,321
2,321
176
2U
1,116
1,116
208
537
537
584
1,U9
20
20
20
2,361
2,361
2,343
221
226
151
584
584
564
l,Ufl
1,143
1,144
21
21
27
2,403
2,403
176
226
584
584
1,194
1,197
27
28
12,869
16,175
20,049
1955-Doc.
18,645
9,875
1,268
2,002
154
1,2U
1956 -Jan.
Feb.
Mar.
18,938
18,921
19,239
10,076
10,130
10,383
1,225
1,229
1,223
2,026
1,939
1,935
154
155
165
1,212
1,212
1,212
Apr.
Ma;.
Jise
19,627
19,783
20,049
10,709
10,830
11,190
1,224
1,232
1,239
1,938
1,939
1,954
165
165
165
1,213
1,213
1,213
49
38
July
19,140
19,591
10,071
10,536
1,221
1,224
2,001
1,921
175
196
1,213
1,213
61
Source: Dallj Treasury atatement.
i/ The eecurltles ahown in thle table were Issued to the Treaflui7 to
finance Government corporationB and other agenclea with the Treasury
Iteelf raising the neceeeary funds through public debt operations.
To avoid duplication, these securities are not included in the
guaranteed debt outstanding as shown in preceding tables.
2/ Excludes securities Issued under Defense Production Act.
i/ Prcm September I95O through July 195^, consists of notes of the
Bousing and Home Finance Administrator, issued to borrow for the
Association. Beginning August 19^, consists of liabilities taken
over by the Association froa the Administrator in accordance with
Public Law 560, approved August 2, 195**, and notes issued by the
Asaociation under authority of that act; and beginoing Septeaober
195'*, also eecurltles transferred frcn the Recanetructlon Finance
Corporation (see footnote 6). Prior to September 1950, the Aasociatlon was financed from funds of the Becons true tlon Finance
Corporation, which owned the capital stock.
ConslBte of notes issued to borrow for the urban renewal program
}*J
(formerly slvon clearance program ;) the prefabricated houeing loans
program fron September 1950, when it was transferred from the Eeconatructlon Finance Corporation, through November 195^; college housing
loans beginning July 1951; oai. public facility loans beginning
January 195^. Notes Issued to borrow for the Federal National Mortgage Association frcn September I95O thro\^ July 195^ are shown
under the Association.
5/ Eetabllshed In the Department of State by Erecutlve Order No. IO6IO,
dated May 9, 1955, and effective at the close of buslnees June 30,
1955, as successor to the Foreign Operations Administration. Data
for earlier periods are for predecessor agencies.
1,015
1,281
1,527
1,731
1,933
Tennessee
Valley
Authority
U7
195^
1955
1956
Aug.,
1,856
1,456
274
197
Secretary of
Agriculture
172
162
12,125
U,190
Burel
Electrification
Adalnistration
2,091
2,207
2,343
1953
102
Reconstruction
Finance
Corporation 6/
66
53
74
6/
^
2/
159
154
2
16
27
Bccludes securities issued under Def«ise Production Act of 195O; includes securities issued under Federal Civil Defense Act of 1950
through November 1953, after which they were taken over by the
Secretary of the Treasxiry, pursuant to the act approved July 30, 1953
(67 Stat, 230), and are included under "Other." During September
195^, under Beorganliatlon Plan Ho. 2 of 195^, the remaining securities Issued by the Corporation to the Treasury were transferred as
follows: $Ua million to Export-Import Bank of Waehlngtan, $92 nlUioo
to Federal National Mortgage Association, and $1U million to ft^n
Business Adminlstratioin.
For Farmers* Home Administration program.
Consists of notes of the Administrator, General Services Administration beginning January I95I (Administrator, Defense Materials Procurement Agency, January 1952 through July 1953) for defense
materials procurement; Reccnetructlon Finance Corporation, January
1951 through September 1953 (after which its activities under this
act were transferred to the Secretary of the Treasury), and the
Secretary of the Treasury beginning October 1953; the Secretary of
the Interior (Defense Minerals Ezploretlcn Administration) beginning
June I95I; the Export-Import Bank of Washington beginning April 1952;
and the Secretary of Agriculture beginning June 195^.
Consists of notes issued by Federal Farm Mortgage Corporation and
Home Owners' Loan Corporation prior to 1950, Virgin Islands Ccnpany,
191*8-49, Secretary of the Axvff (Natural Fibers Fevolving Fund),
I9U9-51, Secretary of the Treosurr beginnii^ 1953 (se« footnote 6),
and 3iuill Business Administration beginning September 195**; and
revenxte bonds issued by Saint I^wrence Seaway Developaent Corporatlco,
beginning November 195^*
October /VJ6
J-9
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 6.- Statue of the Account of the Treasurer of the United States
(in millions of dollara)
.
Treasury
20
BuUetu
STATUTORY DEBT LIMITATIOH
The Second Liberty Bond Act,
757
as amended
(
ginning on August 28,
3I U.3.C.
195"*,
by acts approved August 28,
provides that the face amount of obligations Issued
t>),
and ending on June 30, 1556,
IS^'i, and June 30, 1955; BnA
under authority of that act, and the face amount of
by $3 hllllon beginning on July 1, I956,
obligations guaranteed ae to principal and interest by
the United States (except guaranteed obligations held by
June 30, 1957, by an act approved July 9, I956. Ohllgatione
issued on a discount basis, and subject to redemption prior
the Secretary of the Treasury),
to maturity at the option of the owner, are included in the
shall not exceed in the
aggregate $275 billion outstanding at any one time,
and ending on
statutory debt limitation at current redemption values,
except that this amount was increased by $6 billion be-
Table 1.- Status under Limitation, August 31, 1956
(In Bl111nn(i of
doUAn)
Mb Till aaouat of aecurltles which maj be outattttdlug at aoj on« time, under limitation Isposed by the act
of Jxme 26, I9U6 (31 n.S.C. 757 b), aa inoreaaod t<»por»rllj bj the act of July 9, 1956
278,000
teotmt of securltlea outatandlng subject to auoh atatutory debt llAltatlcn:
U. S.
CoTemaent securltlea laaued under the Second Liberty Bond Act, aa Mwndad
275,10J»
Guaranteed aecurltles (excluding thoae held by the Treasury)
79
Total aaoist of aecurltles outstanding subject to statutory debt llAltatlcn
275,183
Balance Issuable under llaltatlcn
Source:
2,8l7
Dally Treasury etateawnt.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding August 31, 1956
(In ralUlona of dollars)
Subject to
statutory debt
limitation
Class of security
Public debt;
Interest-bearing securltlea l
Marketable:
Treasxoy bills
Certificates of indebtedness.
Treasury notes
Treasury bonds
Panama Canal bends. .••.•••. •
20,809
19,523
35,122
81,828
Total marlce table.
157,282
Total
outstanding
50
20,809
19,523
35,122
81,828
50
50
157,332
totable:
U. S. saTings boids (current redemption Talus).
Depositary bonds
Treasury bonds, inreslaent series
57,338
303
U,931
303
11,931
Total nrfmarto table
69,572
69,572
•
Special issues to Goreraant ageDoles and trust fmds.
272,909
Matured aecuritlea on vhich interest has ceased
Debt bearlz^ no Interest:
Dm ted States sarlngs et«Bps
Xxcess profits tax refiad boods
Special mtes of the Ift^ted States:
Ibtematicnal Monetary ?md Series .•.....••....•
Tkilted States notes (less gold reserre)
Deposits for retlTHwnt of mational bank and FSdsral Reserre Bank notes.
Other debt bearii^ no Interest
1|6,05U
50
l>78
1.7
1*7
1
1
1,673
191
211
6
Total debt bearlx^ no intersst.
272,959
1*71.
1,673
Tot&l public debt
GuaiwQteed aeourltlest
57,338
116,0511
Total Intarvst-bearlng securities
191
211
6
1,721
1*07
2,128
275,10'>
I461
275,565
X/
latere st-bearlng
Hatursd
79
1
Total guaranteed securities
Dally Treasury statensnt.
79
1
79
79
TotAl public debt and guaranteed securities.
Source:
Not subject to
statutory debt
linltation
275,183
i/
I161
Excludes guaranteed securities hsld by the Treasuty,
275,6Wi
.
Octobff
m()
21
.DEBT OPERATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding August 31, 1956
(In millions of dollars)
Amount of maturities
Description of security 1/
BlUs
2-3A*
Fixed
maturity
Issues
Callable Issues
classified by
year of:
First
call
-
9/15/56-59
Bills
Year
and
month
Description of security i/
Final
maturity
6,1.0'.
Bond ?/
Amount of maturities
1959
Feb...
1-7/8* Note
2/15/59-A
Mar...
2-3/8* Bond
3/15/57-59
Apr.
1-1/2* Note
'./1/59-SA
-
10/1/56 -ED
Bills
2-5/8)6 Certificate -
12/1/56-I)
Total
2-5/8)6 Certificate 2-1/2)6 Bond
2-3/8*
(tax
22
..
8,003
June.
2-l/lt* Bond
6/15/59-62
9,083
Sept..
2-1/1.*
Bom
9/15/56-59
30,896
Oct...
1-1/2* Note
10/1/59-BO
Dec...
2-1/'.* Bond
12/15/59-62
2/15/57-A
2/
Bond iJ
Bond
Note
Certificate
3/22/57-B
anticipation series)
3,820
927
531
5/15/57-B
'.,155
Note
-
1
-
8/15/57-0
8/1/57-D
3,792
12,056
10/1/57-BO
821.
Total..
3'.,795
3/15/56-58
1-1/2* Note
lt/l/58-EA
383
2-3/8* Bond
2-3/'.* Bond
2-7/8* Note
6/15/58
6/15/58-63
6/15/58-A
l.,2l.5
1-1/2* Note
10/1/58-EO
2-l/a* Bond
12/15/58
Footnotes at end of table.
5,271.
3,820
99
3,1.62
5,320
Apr..
1-1/2* Note
I./1/60-EA
198
Oct..
1-1/2* Note
IO/I/60-BD
278
Not..
2-1/8* Bend
U/15/60
3,806
Dec.
2-3/1**
Bom
12/15/60-65
Total
8,736
1,1.85
i.,28e
6,196
1,U9
2-1/2* Boi^
Total
119
i960
2,997
3,221
V1/57-EA
1-1/2*
927
1,1.1.9
1-5/8* Note
2-3/1.* Note
Final
maturity
5,102
7,219
3/15/56-58
9/15/56-59
3/15/57-59
1-1/2* Note
2*
First
call
982
Total
2-7/8)6
2-3/'.*
Callable Issues
classified by
year of:
6,l«)2
1-1/2)6 Note
2-l/l.)6
Fixed
maturity
issues
1961
Apr..
1-1/2* Bote
'.,392
June.
3* Panama Canal bond
6/I/61
50
121
Sept.
2-3/1.* Bond
-
9/15/61
2,239
2,368
Not..
2-1/2* Bond
-
II/15/61
11,177
lt/l/61-KA
-
53
919
11,509
919
1,W.9
Total
(Continued on follovlng page)
-
13,520
1,1.85
'.,7l>7
Treasury Bulletin
22
.DEBT OPERATIONS,
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding August 31, 11)66 - (Continued)
(Id Bllllani of
dAUjn)
October
23
V>Jf>
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
(DoUbt
amoun'te In ihIXIIodb}
Treasury Bulletin
2k
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, ^k)tes,
and Certificates of Indebtedness
ubaorlptlon
.
OcTober
l'>5(>
25
.DEBT OPERATIONS,
Footnotes to Table 3
Source:
Bureau of the Public Debt. Prellminaiy flguree are froan aubscrlptlon and allotment reports; final figures are on "clearance"
basis In daily Treasury statement.
i/ Oonslets of aU public cash subscriptions and subscrlptlona bj
anted States Coremment InTsslaent accounts.
2/ Bonbank subscriptions vero allotted in full. OoniMrolal banks'
subscriptions for anoonts up to and Including $100,000 for
their
own account also were allotted in full. Oonoerolal
banks' subscriptions for amounts over $100,000 for their ovn
account wore
allotted $100,000 on each subscriptloo.
The Zi oertiflcates dated August 15, 1952, vere reopened
an certificates of the series identical in all respects, »lth
as an
exchange offering for the 1-7/8* certificates vhloh
Mitured
'"'''**'• Mcclanses in the tuo
^'^'
offerings
aaoonted
?''?°''SL^'
to $2,ocE milllan.
Eiohmge offering available to ouners of nonmrketable
2-3A)t
Treasmy Bonds, Inreslanent Series B-I975-80, dated April 1 I951.
For further information on the original offering see
"Treasuir
Bulletin" for April I951, page A-1. Amounts shoro are
as of
September 30, I956.
Amount
Bhoun includes exchangee by Federal Resorre a^stem Open
5/
Hailcet Account aaounting to $71li
6/ tte 2-1/2* bonds dated February 15, 1953, «re reopened vlth all
the bonds of the series identical In all respects,
as an eichaiKe
offering for the 2-1/8* notes vhlch natured December
1 I953
Total exchanges In the t«D offerings amounted to $a,36S
alljion
Holders of the 1-7/8* oertiflcates which matured
Pebruaiy I5, 1953 '
were offered a choice of exchanging the secnrltte« for
either the
one-year certificates or the five-year, ten-month bonda.
8/ The bond offering was made available for eichai^e of Series
F anl O
savings bonds maturing from May 1 through December
31, I953
2/ Total allotmante on cash subscrlptlona were United to appranmately
$1,000 million. Nonbank subscriptions in amounts up to and including
$5,000 were allotted In full. AU. other subscrlptlona were allotted
20 percent. Camnerclal banks' subscriptions were restricted to an
amount not exceeding 5 percent of their time deposits as of
December 31, 1952. The Treasury also reserved the right to
allot
Halted amounts of these bonds to Government Inveslaent accounts
'
which subscribed to a total amount of $ll8 million.
i2/ Also doalgnated tax anticipation certificates, acceptable at par plus
accrued Interest to maturity in payment of Income and profits taxes
due March 15, 195lt.
11/ Subscriptions for amounts up to and including $100,000 were allotted
in full. Subscriptions for anounts over $100,000 were allotted
67
percent but in no case less than $100,000.
Holders
of the 2* bonds which matured September 15, 1953, wore offered
12/
a choice of exchanging the securities for either the one-year certificates or the three-and -one-half -year notes,
ii/ Subscriptions for amounts up to and inolodii« $10,000 were allotted in
full.
Subscrlptlona from mutual savings banks, insurance ccanpezUee,
pension and retirement funds, and State aid local govenments were
allotted 211 percent. All others, including coniBroial banks, wore
allotted 16 percent but not less than $10,000 on any one subscription.
ii/ Holders of the 2-1/8* notes maturing December 1,
1953, wore offered
a choice of exchanging the seourltiee for either
the twelve-aad-coehalf-month notes or the five-year, ten-iKjnth bonds.
i5/ Holders of tte 2-l/lt* certificates which matured Febrmiy
15 1954
and the I-3/8* notes maturing March
15, 195't, wore offered a'choloo
of exchanging the socurities on February I5, I95U,
for either the
one-year certificates or the seven-year, nlne^nonth
bonds. In addition, holders of the 2* bonds maturing June
15, 1954, and two
Issues of 2-1/1.* bonds callod for rodoisition on
Juno I5, 195!. were
given an opportinlty to exchange their holdings
on Fobruaiy 15 1054
'-^'
'
for the 2-1/2* bonds.
gl/ Holdors of tho 2-5/8* certificates, maturing Aaguat 15,
22/
gi/
24/
y
25/
mion.
W
11/
mj
SubscriptionB farsnounts up to and including
$10,000 worw allotted
full. All other subsorlpticns were aUitted
22 percent but
In uu
no
«- i"
oaae less than $10,000.
HoMera of the 2-5/8* certificates maturing Juno
1, 1954, were offered
a choice of exchanging the soourltles on May
17, 1954, for either the
<«io-ysar oertiflcates or tho four-yoar,
nlno-aunth notes
Also doslenatod tax anticipation certificates,
acceptabli at par plus
*° ™*"°'^*'^
WraeaX of income and profits taxes
m
dS'to^ris""*
12/
21/
26/
29/
30/
31/
32/
3^
34/
32/
26/
XU
^
Suisorlptlons for amomta up to and Including
$50,000 were allotted
in full. Subscriptions for amomts over
$50,000 wore allotted
percent but In no case lass than $50 000
The 1-1/8* certlficatee dated August
15) 1954, were rsopenod with
all the certificates of the series identical in
all respects, as an
offering for the I-7/8* notes which matured Deooaber
15,
TSl^f
1954, the 2* bonds whloh natured December 15, 1954, and tho
2*
which were called for redemption on December
15 I954
Total exchanges in the two offerings amounted to
$8,477'BlUiOT.
W
20/
26/
38/
Y>l
b^
p
1954/- and
the 2-5/8* oartifleates, maturing Septcaiber 15, I954, were offered a
oholce of exchanging tha seourltles on Ai«ust 15, 1954, for either
the one-year certifioates or the six -year, throe-month bonds.
Subscriptions for amounts iqi to and inclodlng $50,000 were allotted
In fxill. Subecriptions for amounts over $50,000 were allotted 50
percent but in no case lees than $50,000.
Holders of the 1-7/8* notes maturing December 15, 1954, the 2* boide
maturing December 15, 1954, and the 2* bonds called for redemption
on December 15, 1954, were offered a choice of exchanging the aecuritles for either the I-I/8* oertiflcates, tho 1-1/4* certificates or
tho 2-1/2* boms.
The 3* bonds dated February 15, 1955, wore reopened with all the
bonds of the series Identical in all respects, as an additional oaah
offering on July 11. I955. Tho total amount issued in tho two
operations was $2,745 million.
Holders of the 1-5/8* oertiflcates maturing Februaiy 15, 1955, aM
the 1-1/2* notes maturing March 15, 1955, wore offered a oholce of
exchanging the socurities on February 15, I955, for either the oneyear, one-^nonth notes or the two-year, slxioonth notes. At the
earns time holders of the 2-7/8* bonds of I955-60, callod for
rwdamptlon on March 15, 1955, wore offered a choice of exchanging
the securities 00 February 15, 1955, for either the one-year, anamonth notes or the forty-yeer bonds.
Also designated tax entioipation eortifioatas, acceptable at par plua
aoorued interest to maturity in payment of loooae and proflte taxes
due Juno 15, 1955.
Tho 2* notes dated Nay 17, I955, were reopened with all the notes of
the series Identical in all respects, as an exchange offering for the
1-1/8* oertiflcates maturing Anguet 15, 1955. Total exchanges In the
two offerings enotmted to $10,015 million.
Cash subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 wore allotted 62 peroent bat in no
case less than $100,000.
Also desigmatod tax antleipaticn oartifleates, acceptable at par plus
aoomed interest to maturity in paymwit of inccne aid profits taxes
duo Maroh 15, 1956.
Subscriptions for $100,000 or less wore allotted In full. Subscriptions for more than $100,000 were allotted 19 percent but In no case
less than $100,000,
Subsorlptiona froa savings-type inrostors totaled $749 mllllcn and
were allotted 65 peroent. Subeeriptlcna froa all otUor isvostors
totaled $970 Billion and were allotted 30 percent. Subscriptions
for $25,000 or less were allotted In full. Subeorlptioae for more
than $25,000 wore allotted not less than $25,000. In addition to the
amount allotted to the public, $25 million of the bonds were allotted
to Oovemment investment accomts. Savings-type investors were given
the privilege of deferring payment for tho b<nids, provided that not
lees than 25 peroent of the bonds allotted were paid for by July 20,
1955, not leae than 60 percent by September 1, 1955, and full payivnt
by October 3, 1955.
Also designated tax anticipation certificates, acceptable at par plus
aocrusd Interest to maturity In payment of Irrr^tf and profits taxea
duo June 15, 1956.
Holdara of tho I-I/8* certifioates whloh matured August I5, 1955, wore
offered a choice of exohai^lng the eoourltleB en A\«ust 1, 1955, for
eithor the ton-and -one-half .«cnth certificates or the one-year, threemonth notes.
Subscrlptlona for $100,000 or Isss wore allotted In full. Subscriptions for more than $100,000 were allotted 32 percent but in no case
less tjian $100,000.
The 2-7/8* notes dated December 1, 1955, wore reopoMd with all tho
notes of tho series identical in all respects, as a partial exchange
offering for tho 1-5/8* notes Bfaturtng Maroh 15, 1956. Total exchanges in the two offerli«B amounted to $4,392 million.
Holders of tho 1-1/4* certifioates and
1-3A* notes, both maturing
Dsoembor 15, 1955, wore offered a oholce of exohai^;lng tha seourltles
on Dsoeober 1, 1955, for either the one-year oertiflcatas or tho twc^
anjiUone-half-year notes.
Holders of tho 1-5/8* notes maturing March 15, 1956, wore offered a
choice of exchanging the securities on March 5, 195°, for either tho
eleven-and-half -month oertiflcates or the two-and -one-half -year notes.
Holders of tho 1-1/2* notes maturii^ April 1, I956, wore penoittod to
exchange their socurities only for the certificates.
Also designated tax anticipation certlficatee, acceptable at par
plus accrued interest to maturity in payment of Income at^ profits
taxes due March 15, 1957.
Subscriptions for $100,000 or less were allotted In full. .Subscriptions for more than $100,000 were allotted 29 percent but in
no case less than $100,000.
ftollmlnary.
26
Treasury
Balk ?;/
.DEBT OPERATIONS,
Table 4.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury
Bonds, Notes, and Certificates of Indebtedness i/
(In mlllloas of dollars)
Isaue
27
October l'>%
DEBT OPERATIONS.
Table 5.- DlspoBltlon of Matured Marketable Issues of Treasury Bcmds, Notes,
and Certificates of Indebtedness
Called or aattartne securil? 1/
Date of
refunding
or retire-
Issue
date
DaeoriptlOB
snt
Results of exchange offers
Blffposltloo offers
bj Treasury
Aaoimt
DeacilptlcD of nev
security offered
Tamed
ottt-
Casta
etandlag
retireBent
offered
fic-
in
cbanged
for
oaata
S/
(In BdUlocia of dollars)
7/1/52
1-7/8^ Certificate
7/1/52-B
8/15/52
1-7/816 Certificate
1-7/816 Certificate
8/15/52 -C
9/1/52-1)
8/1/51
9/15/51
10/1/51
Total.
5,216
583
1,832
5,216
2,4]fi
2,416
2,008
1,832
10/15/51
10,861
10,861
10,542
12A5/5I
1,063
1,063
873
8,868
8,734
10/1/52
1-7/856 Certificate
10/1/52 -E
12/1/52
1-7/8^ Certificate
12/1/52-F
2/15/53
1-7/8)6 Certificate
2/15/53 -A
3/1/52
8,868
6/1/53
6/15/53
1-7/8* Certificate
Bend
2)6
6/1/53 -B
6/15/53-55
7/1/52
lo/7/ltO
4,963
725
4,963
725
4,410
448
5,688
5,688
4,858
2,882
2,682
2,788
7,986
7,721
10,04a
9,923
8/15/53
2*
Certificate
-
8/15/53-0
8/15/52
9/15/53
256
Buud
9/15/51-53
9/15/1*3
7,986
12/1/53
2-1/8)6 Bote
12/1/53 -A
10/1/52
10,542
2/l5/5lt-A
2/15/53
8,114
•2-l/l»l6
Certificate
500
5/|
8,u4
I
2/15/51*
1-3/8* Bote
2)6
2-l/lt)6
a-l/l»)6
Bond
Bond
Bond
3/l5/5'*-A
6/15/52 -5I1
6/15/52-55
6/l5/5't-56
12/15/1*9
6/26/1*4
2/25/1)2
7/22/1*0
4,675
I 1,360
I 3,237
5,825
1,501
681
5,825
1,501
681
4,083
1,128
369
20,796
20,796
18,184
1,743
373
1,505
322
273
4,675
2*
Certificate
8/15/53 -C i/
12/1/53-A
2-1/8* Bote
Certificate
2*
2-1/4* Certificate
2-1/2* Bond
8/15/53-C i/
2/15/54-A
12/15/58 4/
2-5/B* Certificate
6/1/54-B
829
2-5/8* Certificate
2-5/8)6 eertlflcate
2-7/8)6 Bote
-
8/15/54^
-
9/15/54-*
3/15/57-A
12/15/54-B
12/15/58 4/
1-7/9* Bote
2-lA*Bs«d
5,647
2,360
I
6/1/53-B
1-7/8)6 Certificate
4,963
434
1,575
583
1,743 6/
373 6/
1-5/8* Certificate
2-1/i* Bond
-
2/15/55^
1-5/8* Certificate
2-1/2* Bond
-
2/15/55-A
11/15/61
U/15/61
U/15/61
2-1/2* Bond
7,007 of 1-5/8* Certificate
[11,177 of 2-1/2* Bond
[
Total
3/22/^
5/17/5't
2-1/2)6 Certificate
Bend
2*
2-lA)6 Bond
2-1 A* Bond
2-5/8)6 Certificate
3/22/5lt-C
7/15/53
5,902
6/15/52-5'*
6/26/1*4
6/15/52-55
2/25/Ue
1,743
373
6/15/5i'-56
7/22/1*0
6/1/5U-B
6/1/53
5,902 1/
3U
4,858
311
786
4,858
I
238
51
38
-
5/17/55-B
1-1/8* Certificate -
5/17/55-B
2/15/59-A
1-1/8* Certificate
175
1-7/8* note
2.',897
3,886 of 1-1/8* Certificate
,2,897 of 1-7/8* Bote
'
(.Total
8/15/51*
2-5/8)6 Certificate
8/l5/5l»-D
2-5/8)6 Certificate
9/l5/5'*-E
8/15/53
7,285
7,285
2,788
2,788
6,7^
55
1
9/15/53
4,724
1.728
4,724
93
1
Total.
7,512
7,512
8,175
8,175
502
2,078
7,364
n2/l5/5'*-B
12/1/53
[
2)6
BoDd
- 12/15/52-5"*
12/1/1*4
8,662
8,662
3,289
346
407
1,983
43
243
6,028
12/15/5't
14
2*
Bond
- 12/15/51-55
12/15A1
510
510
88
380
29
17,347
17,347
17,033
315
(Omtlnned on
folloifljig paao)
1-1/8* Certificate
I
2-1/8)6 Bond
J
1
148
1*,498
1-7/8* Bote
f
8/15/55-1)
n/15/60
8/15/55-D
/15;11/15/60
1-1/8* Certificate
2-1/8* Bond
3,558 of 1-1/8* Certificate 8/
3,806 of 2-1/8)6 Bond
1-1/8* Certificate 1-lA* Certificate 2-1/2* Bond
8/l5/5'-D
2/15/55-E
8/15/63
-
8/15/55-B
2/15/55-E
1-1/8* Certificate 1-lA* Certificate 2-1/2* Bond
8/15/55-D
2/15/55-E
8/15/63
1-1/8* Certificate
1-lA* Certificate
2-1/2* Bend
8/15/63
4,919 of 1-1/8* CertlflcatB 8/
5,359 of 1-lA* Certificate
6,755 of 2-1/2* Bond
-
Treasury Bulletin
28
.EfEBT
OPERATIONS.
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Called or naturlns eecurlty ]J
laeue
date
DaecriptlcD
Besulte of exchange offers
Dlspoeitlon offers
by Treasu>7
Bate of
or retireBent
(Contlnuedl
-
fisaoymt
outstanding
Cash
retirement
Exchangs
security
offered
changed
Description of oev
security offered
l\tmed
In for
cash 2/
(In mllllcns of dollars)
2/15/55-A
l-5/8)( Certificate
2/15/55
3/15/55-A
l-l/25t Note
2-7/8* Bond
3/15/55-60
2/15/5^
3/15/50
3/15/35
7,007
7,007
1
5,735
1,166
1
2/,6a6
I
I.II.
5,365
5,365
2,611
2,611
f
323
i
1,!,92".
106
1-5/8* Note
note
2*
3/15/56-A
8/15/57-C
326
1-5/8* Bote
Bote
2*
3/15/56-A
8/15/57-C
36I.
1-5/8* Hots
Bond
3*
3/15/56-A
2/15/95
lk,983
1U,188
795
of 1-5/8* Bote
Note
3,792 of 2*
Bond
l.geU of 3*
3,886
3,171.
712
2*
Bote
8/15/56-B 10/
11.9
2*
2*
Certificate
Bote
6/22/56-B 12/
8/15/56-B Ifi/
387
2-5/8* Certificate 2-7/8* Bote
12/1/56-D
6/15/58-A
1.60
2-5/8* Certificate 2-7/8* Note
12/1/56-D
,
6/15/58-A ii/
81.7
9,063 of 2-5/8* Certificate
2,283 of 2-7/8* Bote
11.8
2-5/6* Certificate 2-7/8* Note
8,1.72
Total.
l'»,983
3/22/55
Ijt
Certificate
3/22/55-C
8/2/5lt
3,73't
5/17/55
l-l/8jt Certificate
5/17/55-B
5/17/5''
3,886
6/22/55
1-3/8* Certificate
6/22/55-P
''/1/55
3,210
8/1/55
1-1/8* Certificate
e/15/55-I>
8/15/5U
8,U77
12/1/55
3/5/56
1-lA* Certificate
12/15/55-K
1-3A* Hot*
12/15/55-B
12/15/50
3,210 Ji/
8,U77
5,359
5,359
6,85U
6,854
1,1.86
6,ai
I
12,213
12,213
I
SlU
J
''.925
l,'.69
1
U,366
3/15/56-A
2/15/55
8,1.72
8,U7E
I./1/56-EA
''/1/51
1,007
1,007
6,215
2,109
1,005
9,''79
9,'.79
9,328
1-7/8* Certificate -
2*
2-lA*
Certificate
Certificate
Note
2*
1-1/2* Bote
3/22/56-A
7/1B/55
-
6/22/56-B
6/22/56-C
8/1/55
10/11/55
-
8/15/56-B
- lO/l/56-a)
5/17/55
10/1/51
- 9/15/56-59
9/15/36
-
2-3A* Bond
}
''.158
I
1-5/8* Bote
Ttotal
I
I
2
151
2,20e
1,U86
2,202 JAy
2,970
2,970 15/
12,5U7
550
159 16/
12,388
550
11,528 p
526 p
860 p
22 P
13,097
159
12,938
12,056 p
882
982
982
2-5/8* Certificate
-
2/15/57-A
6/15/58-A Ji/
2/15/57-A
7,219 of 2-5/8* Certificate
2,109 of 2-7/8* Bote
1^
1,1.86
Preliminary figures are from euhSource: Bureau of the Puhllc Debt,
"clearance"
ecrlptlcn and allotment rcporto; flnal figures are on
basis in dally Treasury atatenent.
matxirlty
dates
ape
leed.
1/ Original call and
2/ All by inrestors other than Federal Reserve Banks.
vere reopened for the
3/ TbM 2* certificates oaturli« August 15, 1953,
December 1, 1952, refunding (see Table 3), ,
the
for .>.
reopened
The 2-1/2* bonds maturing December 15, 1958, were
December 1, 1953, refunding (see Table 3).
,
^
o
Keserre
Federal
fron
the
purchased
Treasury
5/ On NoT«Bber 9, 1953, the
Treasury notes^meturlng
STSt«i: and retired t500 nllllon of the 2-1/8*
for
December 1, 1953. For further detail see "Treasury Bulletin
Boramber 1953, page A-1.
,j v
,
bonds vould bo glyen an
6/ It had been announced the holders of these
opportunity to exchange them for another Treasury Issue after
was Included In the re
offering
exchange
February 15, 1951.. This
fundings of Hay 17, 1951..
^,
,
.
.
^
due
for taxes
7/ rax antlclpatlcE eerJea; $2,669 million redeemed
Mareh 15, igS"., anl »3,233 million redeemed for cash.
were reopened for
8/ The 1-1/8* certificates maturing August 15, 1955,
the December 15, WS*., refolding (see Table 3).
taxes due
for
redeemed
million
»2,2l6
2/ Tax anticipation series;
y
I
I
1-1/2* Bote
3/22/56
9/15/56
2/
1
6/22/56
6/22/5S
7/16/56
12/l5/5k
3,73't
10/
11/
Jg/
ii/
ili/
12/
14/
p
2-3A* Bote
8/1/57-D
March 15, 1955, and $l,5l8 million redeemed for caah.
The 2* notes maturing Ai«ust 15, 1956, were reopened for the August 1,
1955, refundli« (see Table 3).
Tax anticipation series; $1,917 million redeemed for taxes due Jme 15,
1955, and $1,293 million redeaned for caah.
Also designated tax anticipation certificates, acceptable at par plus
accrued Interest to maturity In paymsnt of Income and profits taxes
due June 15, 1956.
The 2-T/8* notes niaturli« Jvxie 15, 1958, were reopened for the March 5,
1956, refunding (see Tble 3).
Tax anticipation series; $1,671. million redeemed for taxes due March 15,
1956, and $528 ml 111 en redeemed for cash.
Tax anticipation series; of the 2* certificates $1,013 million wars redeenked for taxes and $1.73 million for caah; and of the 2-lA* certificates $1,891 mllllcn were redeeosd for taxes and $1,079 milllan for
caah.
During June 1956, $159,000,000 of 2* Treasury notes, maturing
August 15, 1956, were purchased by the Treasury for accomt of the
Sinking Fuid and retired,
Preliminary.
Octobtr
V)l(>
29
.UNITED STATES SAVINCrS BOKDS.
United States savings bonds were first offered In
March 1935 and began to mature In March 19'*5- Series A-D
were sold between March 1935 ^^^ the end of April 19'H,
and Series
E,
F,
and
were first offered In May 19'H.
When Series E began to mature on May 1, 1951i owners of
the matured bonds were offered three options:
To redeem
the bonds In cash In accordance with the original terms;
to retain them with an extended maturity of 10 years at
specified rates of Interest accrual; or to exchange them
for Series
May
1,
bonds.
1952.
A number of changes became effective
The principal ones were:
The rate of
details of these changes see "Treasury Bulletin" for
May 1952, page A-1. Series F and
began to mature on
May
For the exchange offering made to holders
1, 1957of these bonds maturing through December 3I, 1953, 8ee
the May 1953 issue, page A-1.
holders of Series F and
195'^ to
bonds.
The Treasury invited
which began to mature In January
reinvest the proceeds in other series of savings
In the tables which follow. Series A-F and J sales
are Included at issue price and total redemptions and
amounts outstanding at current redemption values.
Series 0,
and K are included at face value throughout.
Matured
H,
interest accrual on Series E was increased, especially for
bonds which have been redeemed are Included in redemptions.
the near term, with corresponding changes In extended
Series E; and Series F and U were replaced by two new
Issues, Series J and K, also at higher Interest rates.
A new current-income bond. Series H, similar in Interest
Matured F and
return to Series
E,
was offered beginning June 1.
bonds outstanding are Included in the
interest-bearing debt until all bonds of the annual series
have matured, when they are transferred to matured debt
upon which interest has ceased.
For
Table 1.- Sales and Redemptions by Serl es. Cumulative through Augrust 31, 1956
(Dollar amounts in millions)
.
,
30
Treasury Bulletin
.UNITED STATES SAVIMGS BOKDS.
Table 3.- SaleB and Redemptions by Periods, Series B
through K
(In mllllone of dollars)
Accrued
dlBCount
Panod
Sales plus
accrued
discount
SedeaptioDs
Total
Sales
price
^
y^
ABOuit outstanding
Accrued
discount 5/
Intereat-bearli^
debt
Series B and H ccpblned
Fiscal years:
19'tl-19lt9....
1950
1951
1952
1953
6/.,....
1955 5/
1956
195'>
Cal^nrtar years:
19'tl-19lt9....
1950
1951
1956
1953
2,T7't
2't,351
887
3,921
l.,307
l.,295
895
1,035
It,
1,1U
I.,l407
U,008
l>,06l
1,120
1,326
1,123
l,Ult
".,653
5,225
5,260
56,662
3,668
3,190
3,575
l.,368
195''
"•,889
1955
5,368
Monthai
1956-Jsnv«ry.
57,'>79
3,993
3,272
3,296
3,201
971
1,080
1,120
1,128
1,126
1.113
l.,038
23,856
3,326
3,987
3,583
3,538
3,791
3,909
5,181
5,rF9
1.,3'.5
6,31.8
l.,5l.l.
6,37k
l.,730
l.,012
59,863
26,097
3,912
25,510
3,667
3,688
3,622
3,625
3,909
li,639
l.,270
'.,691'
'.,036
'.,098
5,1.96
.,157
6,015
lt,UW.
l.,652
6,1.81
U0,929
55
57
1.1,053
1.1,126
81
86
nil
1.91.
1.02
31.5
505
512
1.12
355
351
July
August .
IA3
U2
1*03
85
31.3
376
357
Series ?, G, J, and E Coablnsd
,
81.1
1,21.9
586
Calenilwr years:
I9I.I-19I.9
1950
1951
1952
21., 993
2,li06
770
586
1953
1.32
1951.
1,281.
1955
907
Months
1956 -January.
February.
March
April....
72
68
53
J\Kie
39
33
39
July
la
August..,
31.
M»T
21.1.
35,321.
51.
Ulk
Ul8
398
1,680
1,871
629
501
1.76
1.0,729
1.0,822
AprU...,
May
Jtne
2l>,325
3l.,727
57
57
368
IKX
,
31., 1.93
31.8
40,1.88
51.9
1950
1951
1952
1953
1951.6/
1955 5/
1956
33,766
21.5
55
65
57
1.50
560
8lt
I9I.I-I9I.9....
1.0,929
395
303
681.
8l>
Fiscal years:
586
37,1.*
39,285
lM3,063
111
Ul.
500
55l»
636
658
3l.,l.9l.
3'.,905
36,01.8
36,663
38,233
I165
,
1.25
702
572
Ut6
555
1*7
3lt,506
531
535
February,
1.31
33,327
195
307
3,91.9
March
1.05
1.96
1*,296
1^,637
Matured debt
.,
October
.
Mh
31
.UNITKD STATES SAVIHGS BOKDS.
Table 3.- Sales and Redemptions by Periods, Series B through K -(Continued)
{in millions of dollAra)
Accrued
discount
Sales
Bedamptlons 2/ 3/
Sales plus
accrued
discount
Sales
price k/ 5/
Fiscal years:
19lil-19''9
1950
1951
1952
1953
igjit
1955
1956
5U,70l»
2,77''
3,993
3,272
3,266
3,700
3,988
895
1,035
l*,095
1,123
U,219
1,11't
56,662
59,863
i,m
1,120
:.,i26
57,'t79
l»,887
It,
307
't,377
it.aai
5,lllt
5,218
5,333
211,351
3,521
lt,295
It,
008
1»,032
It,
319
It,
1(90
U,622
Calendar years:
195't
11,063
1955
'(,192
3,201
971
1,080
1,120
1,128
1,126
1,113
I9UI-19U9
1950
1951
1952
1953
3,668
3,190
3,393
3,906
Months:
1956 -January.
February.
March...,
April.
. .
May
June
11,098
5,0311
5,1119
5,30lt
U,1U1
liJtl
U,1.06
11,572
1*37
111
81t
5lte
I160
8U
lt57
31*2
81
86
llU
ll22
U39
392
U02
392
112
1(64
uie
85
liai
351
336
.
lt,513
It
376
372
351
325
July....
August .
,270
26,097
3,912
1,036
"1,639
lt37
360
386
Series H j/
Fiscal years:
30
360
665
1,130
30
360
665
1,130
l.Oltl
1,01*1
1952
1953
WJl*
182
U62
866
1955
1,177
182
U62
866
1,177
135
100
92
135
100
92
1952
1953
195't
1955
1956
6
Calendar years:
Mentha:
1956 -January,.
February,
March...,
16
38
79
9
8
12
10
10
April....
72
72
May
68
68
June
73
73
12
91
66
91
66
13
12
July
August
.
.
Accrued
discount 5/
Anount outstanding (interestbearing debt)
32
Treasury Bulletin
.UNITED STATES SAVINGS BONDS.
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In KlUlona of dollora]
Matured bonde
fsriod 8/
Total
Total
atorsd
6,137
5.109
5,&1
6,515
7,251
7,8>;6
^
Serlss
A-D
1
.
October
Mh
33
.OWNERSHIP OF FEDERAL SECURITIES.
Table 1.- Distribution of Federal Securities by ClaeeeB of Investors and Types of Issues
(In millions of dollars)
Interest-twarine securities Issued
\j the U. S. GoTerzaent
End of
fiscal
year or
aonth
191*9
1950
1951
1952
1953
1951*
1955
1956
Total
Federal
securities outatandlng
1/
field by U.
S.
Oovem^nt
Held by private
Investors
InTeetBont accounts 2/
Total
outstanding
252,798
257,377
255,251
259,151
266,023
250,762
255,209
252,852
256,863
Public
Issues
38,288
37,830
5,512
5,1*71*
Special
Issues
32,776
32,356
Interest-bearlJQfi securities guaranteed by the U. 3. Government k/
Hell by
Federal
Beeerve
Basks public
Issues
Total
19,31*3
193,131
199,01*8
37,739
18,331
22,982
22,906
Public
narketable
issues
Government
InvestaaeDt
Total
outaccounts
standing and
Federal
Beserve
Banks 2/ 5/
1*4
43
2,21*4
51
80
51
2,126
80
41
48
2,351
2,634
2,869
44
2,970
38
41
2,881
2,816
2,865
3
73
25
8
2l*,7l*6
191,61*0
271,3ltl
27l*,ln8
268,910
1*9,31*0
271,71*1
50,536
1*2,229
1*3,250
269,883
53,1*70
25,037
23,607
23,758
194,533
197,598
192,655
121,771
127,875
272,825
7,111
7,286
8,356
126,301*
13
16
1955-Dec..
280,822
277,799
51,723
7,798
1*3,926
21*,785
201,291
134,230
67,061
52
1956-JoD.
Feb..
Mar..
280,102
280,167
277,170
277,295
51,651*
51,791*
1*3,585
273,1*81
51,888
1*3,736
23,636
202,050
202,018
197,957
135,365
135,321
131,261
66,684
66,697
66,697
51
56
57
13
U3,688
23,1*66
23,1*82
276,1*01*
8,069
8,106
8,153
Apr..
Hay..
June.
275,81*5
273,078
273,977
269,883
269,972
272,959
51,51*1*
8,155
8,181
8,356
1*3,389
23,3U5
53,768
131,573
131,399
126,304
126,550
128,571
66,616
66,584
66,351
66,216
66,155
56
61
5l*,379
198,169
197,983
192,655
192,766
194,726
16
17
25
26
27
July.
Aug..
276,791
272,825
272,719
275,61*1*
52,520
53,1*70
1*1*,339
23,1*71*
1*5,111*
23,758
8,1*11*
1*5,353
23,1*38
8,325
1*6,051*
23,854
Source: Dally Tr©as\ai7 statement for total amoxHits outatandli^; reports
fron agencies and trust funds for securities held by U. S. Govenmient
Inves'tmsnt accounts; and reports fron Federal Reserve System for
socurltlea held by Federal Eeserve Banks.
1/ Includes certain obligations not subject to statxitory limitation.
For amoints subject to limitation, see page 1.
2/ Includes accoxnts mdor the control of certain U. S. Goveraaont
agencies vtaoee investments are handled outside the Treasui7; excludes
Federal land banks after June 26, I947, irtien the proprietai7 Interest
of the IMlted States in these banks eoled.
17"
73
73
79
15
14
43
39
44
48
47
52
1
2,712
2,753
2,869
2,675
2,607
The total emount of Interest -bearing eecurltles held, by private InTttstors Is calculated by deducting frca the total emount outsteuxLing
the amount held by U. S. GoTemnent Investment accounta end Federal
I
Peeerva Banks.
£nslude8 guaranteed securities held by the Treaauzy.
All public marketable Issues.
CGQSlsta of Comaodlty Credit Corporation demand obligations stated as
of the cloee of the previous month,
Lese than $^00,000.
Table 2.- Net Market Purchases or Sales of Federal Securities for
Investment Accounts Handled by the Treasury i/
(In "111 nrw of dollars; negative figures are net sales)
Year
U
2,012
2,150
2,372
43
1*0,538
77,249
74,437
72,511
Public
Public nonmarketmarketable
able
issues issues
6/
Matured
debt
and
debt
bearing
no
interest
27
72,762
69,723
66,351
263,91*6
6,305
6,596
7,021
Held by private
Investors i/
24
17
27
62,711*
67,1*19
1*0,958
1*^,335
1*7,560
188,911
189,623
Public
nonmarketable
issues
n. s.
130,417
131,629
111,663
115,185
119,129
3l*,653
1*5,111*
Held by
^
7
9
5.
... ,.
.
,
67
1
U7
9
U
8
9
8
6
5
Treasury Bullet i:
3'*
.OWNERSHIP OF FEDERAL SECURrriES.
Table 3.- Estimated Ownership of Federal Securities
(Par valius 1/ - In Mlllooa of doULara)
Aid of
Donth
Held
Hold b; banks
Total
Foderal
aocuritlea
outetandtag 2/
COBDST
clal
banka
Pwieral
B« servo
Banlca
3/
U. S.
Gc7ernneiit
Sorlngs
18.U
15.9
2.5
6.5
22.7
19U0-June
December.
"i8.5
..
50.9
18.6
19.5
16.1
17.3
2.5
2.2
7.1
7.6
22.8
23.9
19)il-Jaie
]>ec€mber.
55.3
6U.3
21.8
23.7
19.7
.
21.1.
2.2
2.3
igka-Jine
Decanber..
77.0
112.5
28.7
26.0
2.6
't7.3
1.1.1
6.2
8.5
9.5
10.6
12.2
igliS-June
luo.e
170.1
59.'*
52.2
59,9
7.2
11..3
.
11.5
83,3
96.5
68.1.
1I..9
.
202.6
232.1
.
259.1
278.7
106,0
115.0
279,8
269.9
259.5
19Uli-^iKie
December.
19lt5-Jime
December.
19k6-Febru!U7 2/
June
December. .
I9U7-J111M
,
December,.
.
WW-June
December .
,
. ,
I9't9-June
December,..,
X950-Jiine
December.
..
ccDtpanlea
Other
Investore
Mutual
sarliigs
banka
State asd
Corpora- local
tions 6/ govemnents j/
Mlecellaneous
Inre store
ye/
1.9
8.2
6.3
3.1
10.1
10.6
2.6
2.8
7.5
7.8
6.5
6.9
3.1
3.2
2.1
2.0
.k
25.0
31.0
11.2
13.6
3.6
7.6
8.2
7.1
8.2
3.1*
2.0
U.O
.6
.7
3.7
.7
.9
37.7
53.0
17.8
23.7
9.1
8.7
9.2
.9
1.1
10.3
11.3
3.9
U.5
1*.9
13.1*
10.1
1.0
2.3
67.0
81.7
30.9
37.6
19.2
21..
11.7
13.9
13.1
15.1
6.1
12.9
16.U
1.5
2.1
3.1*
16.9
100.2
llU.O
17.3
19.6
7.3
8.3
20.2
3.2
6.1
53.3
31.2
36.2
11..
77,7
19.1
21.7
1*6.1
18.8
21.1.
1..3
5.3
8.3
6.5
9.1
6.7
6.5
8.9
8.6
8.1
.2
21.8
2I..9
90.8
21..3
27.0
128.2
136.6
116.7
108,2
97.9
93.8
7'..
22.9
23,8
23.3
28.0
29.1
30.9
258.U
257.0
91.9
91.3
70.0
68.7
21.9
22.6
252 .•
252.9
85.9
85.8
6U.6
62.5
21.1.
252.8
257.2
8e.U
85.7
63.0
66.8
257.1'
83.9
82,6
65.6
61.8
256.7
noat>eu3}£
Ineurance
U7.6
71.5
prlTate
IndlTlduale 5/
Inreetaent
acco^Elt8 U/
1939-DsceBbar...
December.
"tij
81.
8I..U
1951-June
December..,.
255.3
259.5
8l,lt
58.1.
85.'i
1952 -June
December.
259.2
267.'*
.
December..
5.1*
17.1
5.3
.7
.7
.7
.5
k.k
7.0
59.1
1.0.7
te.9
18.5
21.2
22.7
61..
21..
9.6
10.7
23.3
22.2
135.1
132.6
130.7
61..
1*3.3
20.8
21.. 1.
U.l
63.3
19.9
21.
.2
1*3.5
UI1.2
20.1
21..
11.5
11.8
19.9
17.8
15.3
32.8
133.7
1*5.5
1.6.2
21..
19.1*
23.9
12.1
12.0
13.7
lU.l
7.1
131.3
66.6
65.7
21.1
31..1.
7.3
9.6
8.U
35.8
37.3
130.7
129.7
65.8
65.5
1*7.1
1*7.?
18.6
17.6
22.8
12.0
13.6
21.2
U.5
11..
7.8
7.9
8.7
8.9
19.3
18.9
38,3
132.2
132.1
66.6
66.3
1.8.8
17.8
17.0
20.5
20.1
11.6
U.l.
15.8
16.8
8.0
8.1
9.6
1*9.3
18.3
37.8
39.2
13 -i .6
67.1.
Ul.O
65.1.
U9.I
1
10.2
61..
1*9.1
16.3
15.5
5
9.8
19.7
20.1
20.7
8.7
8.8
9.7
7
11.6
10.9
18.
66.3
17.6
16.7
19.8
131. .9
1*9.9
1.9.6
23.3
20.8
39.1.
61.
.9
6.3
9.1*
10.5
61.6
23.0
23.8
1.2.3
132.9
131.8
81»,0
61.1
22.9
1.1.
6l..e
1*9.0
21..
.1*
65.1
l'-).2
15.7
16.0
7
1
9.6
9.5
18.8
19.9
10.1.
63.1.
.3
1.5.9
130.8
88.1
u.l
U.6
U.7
266.1
275.2
83.6
89.6
58.8
63.7
21..
1.7.6
1.9.3
U9.I.
17.1
16.0
16.0
15.8
9.5
9.2
18.U
1*8.3
135.0
137.3
66.3
25.9
21.0
12.0
12.7
32.8
13.2
271.3
278.8
88.7
63.6
69.2
25.0
1*9.3
1.9.6
133.3
135.1
65.0
63.5
1*9.5
15.5
13.6
15.3
9.1
8.8
I6.U
19.3
13.9
15.0
13.7
13.9
1955-January. ...
Februai7 ...
March
278.5
278.2
27U.1
92.6
90.6
87.8
68.7
66.9
.2
23.9
23.6
23.6
50.0
50.1
50.2
15.2
15.2
15.0
8.8
8.8
8.8
20.0
21.2
19.0
April
May
Jime
276.7
277.5
89.1*
65.8
6U.8
63.5
23.6
23.7
23.6
15.0
8.8
8.8
8.7
20.1
21.2
18.8
IU.6
lU.l.
11..7
lU.l*
lU.l.
2lt.l
8.8
8.8
8.7
19.8
II*
20.8
20.6
11.
15.0
15.0
15.1
8.6
8.5
8.5
22.3
23.2
15.0
15.0
15.1
15.1*
23.1*
8.5
8.5
8.5
23.7
23.8
20.5
15.5
15.7
15.9
16.0
15.9
16.0
15.9
16.5
16.6
16.2
16.0
16.2
1953-Juno
December.
.
.
igjli-June
9k .1
61.
21..
133
65.1*
136.5
6U.1
1*9.2
138.1.
61..
136.9
65.3
1.8.9
138.3
139.6
136.7
65.1.
65.6
65.3
50.2
50.2
50.2
139.1
lUo.u
lUo.u
65.7
65.9
66.1
50.2
50.3
50.2
15.5
15.6
15.9
11..
11.2.1
66.0
65.7
65.5
50.2
50.2
50.2
15.8
15.5
11..9
11*2.7
11*2.3
15.3
ll*.3
l^.S
66.1.
50.3
11.
11*5.3
11.2.6
67.0
67.5
50.
16.1
16.6
17.1
13.6
13.5
13.3
8.5
8.1.
20.7
21.1
17.8
13.3
8.1.
18.1
II.
.6
15.2
15.2
15.1*
II..9
15.1
111
88.5
87,1
277.6
87.9
278.lt
86.1.
277.5
85.9
63.8
62.7
62.1
279.9
280.2
280,8
86.8
85,9
86.8
62.7
61.6
62.0
21.
21..8
51.0
51.6
51.7
280.1
280.2
276. 1>
81.
.0
60.5
59.5
23.5
23,5
23.6
51.7
51.8
51.9
April
Hay
June
275.8
276.8
272.8
81.8
81.2
80.7
58.1.
23.3
23.5
11*2.5
67.1.
50.1.
11*3.1
67.1.
50.1.
23.8
51.6
52.5
53.5
138.7
67.2
50.3
17.0
17.0
16.6
July p
272.7
T9.7
56.3
23.1.
53.8
139.2
67.2
50.3
16.9
.
October....,
NoTwnber..
December. .
1956 -January
February
March
83.0
81.9
58.3
57.7
56.9
23.8
23.8
.0
2I..3
1.9.5
50.5
50.6
51.6
51.2
Source: Office of the Secretary, Analysis Staffs Debt Division.
United States sarlDgs bonds, Series A-P and J, are Included at current
redemption value.
2/ Securities Issued or guaranteed by the U. S. Goveniment, excluding
guaranteed securities heLl by the Treasizry. For amounts subject to
statutory debt limltatlcn, see page 1.
Ccnslats of ccnmerclal banks, trust coapanlee, and stock savings banka
in the united States and In Territories and Island poesesslons. Figures
exclude securities held In trust deparisnente
U/ Holdings by Federal land banks are Included under "HiaceUeneous Investors" instead of "U. S. Government investment accounts" after
June 26, I9I.7, vhen the proprietary Interest of the U^ted States in
theee banks ended.
Includes parteerships and personal trust accounts. Nonprofit Institu-
i/
^
11..1
27l».l»
Julj
August
September.
^
50.0
U9.U
1*9.1*
1/
8/
2/
P
50.1.
.8
15.0
15.0
II..
.2
13.9
13.6
8.1.
9.1*
9.6
lU.l.
11*.
11*
.6
11*
.6
11..7
.9
.9
II..9
10.7
10.6
13.9
13.9
11*
.2
15.3
15.6
16.1.
16.5
tloDB and corporate pension trust fimds are Incluled under "Miscellaneous inre store."
ErcliislTe of banks and Insurance canpanles.
ConsistB of trust, sinking, and investment funds of State and local
gOTemnents and their agencies, and Territories and island posseeslona.
Includes savings and loan associatiaoa, nonprofit Institutions, corporate pension trust funds, dealers and brokers, and investinente of
foreign balances and international accounts in this country. Beginning December 19'*^, Includee Inveatmonte by the International Bank for
Becoaatruction and Develoiinent and the International Monetary Fund In
special noninte re at -bearing notes Issued by the U. S, GoTemnsnt,
Immediate poatvar debt peak.
Preliminary.
,
October
l')^l>
35
.TREASORy SURVEY OF OWNERSHIP, JULY 31, I956
,
The Treasury Survey of Ownership covers securities
Issued by the United States Oovernment and by Federal
agencies. The banks and Insurance companies Included In
Distribution of ownership by types of banks and Insurance companies Is published each month. Holdings by commercial banks distributed according to Federal Reserve member-
the Survey account for approximately 95 percent of such
securities held by all banks and insurance companies In
bank classes and nonmember banks are published for June 30
and December 3I. Holdings by corporate pension trust funds
the United States.
Data were first published for
March 31, 1941, In the May 1941 "Treasury Bulletin."
Bulletin for quarters beginning December 3I,
Section
I
-
are published quarterly and first appeared In the March I95U
191+9.
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - In milllona of dollars)
Held by investors corered In Treasury Survey
Total
Classification
BTnn ifn t'.
out standins i/
6,695
commercial
banks 2/ i/
525
mutiua
savings
banks 2/
Insurance companlee
312
life
579 fire,
casualty,
and marine
U. S. Government
Investanent
accounts and
Federal Reserve
Banks
Held by
all other
Inreetors
y
Interest-bearlns securities:
Public marketable
Public nosmarketable
Special ieeuee ...»
^
.
155,026
69,665
1.8,936
6,581.
'.,711
l.,232
1,681
1,758
3,030
739
1*5,353
Total Interest-bearlDg secuntles
Matured debt and debt bearlr^ no Interest 6/.
Total eecxUTltlee leeiied or guaranteed by the
U. S. QoTenment jj
3,1.1.8
62,133
59,009
1.5,353
270, ow.
50,618
8,31.3
7,71.1
l.,971
2,675
272,719
Footnotes at end of Section II.
Table 2.- Summary of Interest-Bearing Public Marketable Securities
(Par values
28,1.29
-
in millions of dollars)
77,230
121,ll|2
Tr
reasury
36
TR
October /956
TRRAR
Treasury Bulletin
38
.TREASURY SURVET OF OWWISSHIP, JULT 31, 1956,
Section
II
-
Interest-Bearing Securities Issued by Federal Agencies but
Not Guaranteed by the United States Government
(Par Tallies
-
In mllllona of dollars)
October 1956
1^0
Treasury Bulletin
.
MAEKET QUOTATIOHS OH TREASURY SECUFTTIZS, AHKJST 31, 1956.
Table 4.- Taxable Treasury Bonds
(Price declaals are 32ixie)
ABO\Zlt
October /956
in
.MARKET QUOTAHOHS OH TKKASURY SECURITIES, ADGUaT 31, 1956.
C0
If)
to
d
<
to
O
CO
§
Treasury Bulletin
kz
.AVER/CE YIELDS OF LOMG-TEIW BONDS.
Table 1.- Average Yields of Treasury Bonds and Moody's Aaa Corporate Bonds by Periods
(Percent per
MocKjy'e Aea
Taxable
Treaavxy
boDdo 1/
Period
corporate
bonds
Annual series
igiiz.
2.1(6
19^3.
2.U7
2. US
2.37
19't5.
19li2
Taxable
Treasury
bonds 1/
Moody's Aaa
corporate
bonds
14ocdy's /.aa
corporate
bonda
throi«h 1952 - calendar year aTeraees of monthly series
19'»9.
2.32
2.57
2.68
2.62
2.86
2.96
1952 -July.
Aug..
Sept.
Oct..
Mot..
Deo..
2.61
2.70
2.71
9h
2.71
2.75
.98
1953 -Jan..
Feb..
2.80
2.83
2.89
3.02
3.07
3.12
1950.
1951.
1952.
2.53
2.19
2.25
2.Wt
2.31
isue.
19^7.
19^8.
2.83
2.73
8.72
2.62
aimxiii)
Taxable
Treasury
bonds 1/
2.61
2.82
2.56
Monthly series January 1951 through March 1953 - averages of dally series
1951-Jao.
Feb..
Mar..
tcpt,.
M«J..
Jiaie.
July.
Aug..
Sept.
2.39
2.U0
2.U7
2.56
2.63
2.65
2.66
2.66
2.78
1951-Oot..
Hot..
Dec..
2.61
2.66
2.70
2.89
2.96
3.01
2.7'»
2.98
71
70
2.63
2.9U
2.88
2.8U
1952 -Jan..
Feb..
Mar..
Apr..
May..
June.
57
2.93
2.96
2.93
2.93
61
2.9U
2.57
2.56
Taxable Treasury
bonda, due or
oallable
Fr(»i 10
to
20 years
20 years
and after
61.
Taxable Treaauiy
bonds, due or
callable
Moody's
Aaa
corporate
bcDde
Fran 10 to
20 years
Annual series beglmllg 1953
2.92 i/
1953
3.16
y
3.20
2/
1951*.
-
20 years
and after
95
95
01
2. Tit
Mar..
97
Taxable Treasury
bonds, due or
callable
Moody's
Aaa
corporate
bonds
Frcn 10 to
20 years
Moody's
20 years
ajid after
calendar year aTerages of monthly seriee
2.52
2.90
2.71
2.80
2.91*
3.06
1955-oct..
Hot..
Dec..
2.82
2.85
2.96
2.96
2.97
3.10
3.10
3.15
1956-Jon.
Feb..
Mar..
Apr,.
May..
June.
July.
Aug..
2.86
2.8?
2.9I1
2.90
3.05
2.98
3.10
3.11
3.03
3.10
1955.
Mcnthly aeries begliinljig April 1953 - aTerages of dally series
1953 -Apr.
May.
2.96
3.09
Juae
July
Aug.
Sept
Oct.
Hot.
Deo.
3.U
195k -Jan.
Feb.
Mar.
Apr.
May.
June
2.99
2.99
2.95
2.81
2.83
2.77
.67
.58
.50
."•5
.52
.53
3.2I1
3.23
3.26
3.29
3.25
3.22
3.19
3.06
3.04
2.96
3.3lt
2.90
2.85
2.73
2.70
2.72
2.70
3.06
2.95
2.86
2.85
2.88
2.90
3.ltO
3.28
3.2't
3.29
3.16
3.11
3.13
195U-July.
Aug..
Sept.
Oct..
Hot..
Deo..
2.1*5
2.I16
.62
.89
.60
2.50
2.52
2.55
2.57
.61*
.87
.89
.87
.89
.90
1955-Jan.
Fbb..
Mar..
Apr.,
May..
June.
July.
Aug..
Sept.
2.66
2.72
2.72
2.77
2.76
2.77
2.88
2.91
2.38
.77
.65
.68
.68
S/
.93
.92
.92
.99
.92
.01
.ou
.05
.06
.11
.91
.91
.96
.02
.00
.ce
.13
2.88
2.93
2.911
3.03
2.89
2.97
3.15
2.98
3.05
3.19
3.2't
3.28
3.26
3.28
.
October /956
+3
.
AVER/GE YIELDS OF LONG-TEm BOttDS
Q
O
CQ
«c
§
UJ
O
0.
c
£E
O
O
<
>01
<
<5
UJ
iS
^ fn ^
c
2§
O
•V.
-
-
<0
Si
U-
o
en
o
-J
I
UJ
>UJ
<
UJ
I
w
Treasury Bulletin,
.INTERMAL REVENUE COLLECTIONS.
Table 1.- Summary by Principal Sources
(In thousands of dollars)
Budget
receipts
Total
collections
reported by
Internal
BeTcnue
Serrlce
Individual Inccne tax and emplojment taxes
internal
roTenue
Adjuatnent of
collectlona
to bullet
receipts i/
Wit?
39,379,l»09
12 71, 023
39,108,386
191*8
19''9
111,853,1*85
-U,057
111,86 ii,5liS
9,676,1159
10, 1711,1110
1*0,307,285
-155,8liO
110,1163,125
U,553,669
1950
1951
39,111*8,607
+Ii91,ii75
38,957,132
10,854,351
21,367,662
23,379,123
20,527,935
19,797,883
51,106,095
1^0,1109
50,lili5,686
111,387,569
26,6211,788
1952
1953
195^
1955
1956
65,63'i,89'i
4625,308
21,1166,910
21,5911,515
21,5116,322
33,738,370
11,345,060
37,2511,619
37,921,3111
10,736,578
18,26U,720
21,298,522
37,869,770
10,396,1180
75,112,6119
112,633,1126
11,830,260
ii,580,lli6
11,580,1116
lt2U,087
3,303,026
2,152,316
6,903,381
12,307,0Wi
6,903,381
12,307,0Wi
1159,930
5,li99,210
8,109,WiO
3,2311,615
798, U7
816, 8U3
509,1102
Fiscal 7oar
or Bonth
frcBi
70,170,9711
*li8li,li39
65,009,586
69,686,535
70,299,652
66,288,692
+3611,672
69,9311,980
75,109,1183 p
66,288,692 U/
-3,166
Corporation
Inccne and
profits
taxes
Individual
iDccae tax
not withheld |/
9,501,015
9,li6li,20li
7,996,320
7,264,332
9,907,539
U,li03,9li2
Individual
Inccme tax
withheld 3/
Old-age
Insurance
taxes i/
9,842,282
11,533,577
10,055,502
9,888,976
13,089,770
1,458,934
1,612,721
1,687,151
1,873,401
2,810,749
BailroadretlreBient
Uoenploynsnt
Inauronce
379,555
560,113
562,734
548,038
579,778
185,876
208,508
226,228
223,135
236,952
620,622
17,929,047
3,584,025
21,132,275
3,616,252
628,969
4,218,520
605,221
22,077,113
21,253,625 4/ 5,339,573 4/ 600,106 4/
29,844,187
634,323
259,616
273,182
283,882
279,986
324,656
I
1956 -January
February
Hsrcb...
i*ni...
Hay
June ....
July
5,355,168
«, 793, 1135
12,222,9311 P
3,571,li8o
5,355,168
-3,166
1,101,560
4,374,889
2,358,022
17,300
85,058
53,870
31,850
241,146
5,880
15,268
91,356
53,751
4,045
2,499
1,294
23,376
1,719
6,793,1135
U92,032
3,951,569
5,287,5i«
2,885,373
989,755
12,226,099
7,19'i,927
11,063,931
1,1186,663
1,046,882
4,203,932
2,522,223
3,571,1180
836,891
1,7611,231
456,775
1,282,360
Excise taxes
Fiscal year
or month
1947
1948
1949
1950
1951
Capital
stock
tax S/
1,597
1,723
6,«8
266
1952
1953
1954
1955
1956
Estate and
gift taxes
excise
779,291
899,345
796,538
706,227
729,730
833,147
891,284
935,122
936,267
1,171,237
1956 -January..
?bbruai7.
Harch....
Other excise
Total
7,283,376
7,409,941
7,578,846
7,598,405
8,703,599
8,971,158
9,946,116
9,532,222
9,210,582 4/
10,004,195
Docmients,
etc. 6/
Miscellaneous 6/
2,474,762
2,255,327
2,210,607
2,219,202
2,546,808
1,237,766
1,300,260
1,321,875
1,328,464
1,380,396
3,570,846
3,854,334
4,046,364
4,050,738
4,776,395
79,978
79,466
72,828
84,648
93,107
1,939,486
2,119,157
2,220,744
2,245,182
2,840,690
1,551,381
1,655,711
1,752,792
1,720,908
1,842,598
2,549,120
2,780,925
2,797,716
2,742,840
2,920,574
1,565,162
1,654,911
1,580,512
1,571,213
1,613,497
4,856,876
5,510,280
5,153,992
4,781,843
5,501,333
84,995
90,319
90,000
112,049
114,927
2,824,409
3,358,797
3,127,465
3,177,160
3,777,909
1,947,472
2,061,164
1,936,527
1,492,633
1,608,497
29,734
1,004,917
387,758
29, 8l4
883,367
397,980
78,007
97,472
136,435
775,259
846,214
826,492
179,361
212,306
246,300
139,337
128,023
136,554
65,744
1,193,917
162,749
May
Juie
143,967
136,590
111,637
750,018
876,556
854,641
239,031
255,638
263,619
125,957
149,229
142,572
44,455
1,013,317
253,388
July
119,148
826,983
235,540
127,287
90,467
/*ni
Manuf ac turers *
and retailers* 6/
Source:
Internal Revenue Sejvlce reports for detail of collections by type
of tax; dally Treasury statement for budget receipts fron Internal
revemM thro\^ the fiscal year 1952, and the monthly statement of receipts and expenditures of the Govenment for receipts thereafter (for
explanation of reporting bases in these publications, see page II).
Certain detail by type of tax Is available only froa returns filed with
the Internal Kevenuo Service. The figures shown Include collections for
credit to special accounts for certain island possessions, as reported
by the Internal Revenue Service. Beginning with the fiscal year 1955,
they include the amomts of tax collected In Puerto Rico upon articles
of merchandise of Puerto Rlcan manufacture ccning Into the United
Statee. Figures for 1954 have been revised to the same basis. Figures
for previous years include only amounts collected at ports of entry
into the Italted States.
1/ Differences between the smoints of internal revenue reported by the
Internal Revenue Service as collectiona for given periods and the amomta
reported in Treasury stateonents as budget receipts for the ssae periods
arose because of differences in the time when payments were included In
the respective reporte. Tax payments are included In budget receipts
when they are reported as credits to the accouit of the Treasurer of the
united States. Prior to July 1954, they were Included in Internal Revenue
Service collection reports after the returns to which they applied had been
received in internal revenue offices. Tjkider procedure begun in 1950 with
withheld incdoe tax and old-age insurance taxes and later extended to
railroad retironent taxes and many excises, these taxes are paid currently
into Treaaury depositaries and the depositary receipts, as evidence of
such payments, are attached to quarterly returns to the Internal Revenue
Service. 'Jhder this procod'ire, the payoente are Included In budget
j
recelpta In the month In which the depositary receipts are Issued to
the taxpayers. Revised accounting procedures effective July 1, 195^,
extended the same practice to Internal Pevenw Service collection
reports.
2/ Monthly and fiscal year I956 figures inclule old-age insurance tax on
self -employment IncoEe, which Is levied and collected as part of the
individual income tax beginning with the taxable year 1951. Previous
fiscal year figurea exclude this tax, on the baais of estimates beginning 1952 (see footnote 3), and It la Inclined vt^er "Old-age
Insurance taxea."
Withheld Incooe tax and old-age insurance taxes on employers and employees are paid into the Treaaury in ccmbined amounts beginning
Januax7 1951. In Internal Revenue Service imports, current collections have not been separated as to type of tax but the breakdown
shown for fiscal years beglnnli^ 1951 is biwed on estimates made in
acconlance with provisions of Sec. 109 (a)(2) of the Social Security
Act Amendments of 1950, for transfer of tax recelpta to the Federal
Old -Age and Survivors Insurance Trust Fund.
4/ Beginning with the fiscal year 1955, collections shown include undistributed depositary receipts and unclasBlfled advance payments.
For excise taxes these receipts are included in the total only.
Total collections Include "Taxes not otherwise classified/' irtilch
were Included with miscellaneous excise taxes prior to the August
1956 issue of the Bulletin.
(See Table 2).
Repealed for years ending after June 30, I9U5. Beginning 1951,
included under "Miscellaneous excise taxes."
Detail is reported by quarters beginning with the fiscal year 1956.
Frellalnary.
October
195()
>^5
-INTERNAL REVENUE COLLECTIONS.
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
DOLLARS
DOLLARS
Billions
Billions
42
42
40
and
Employment Taxes*
Individual Income Tax
38
36
34
32
30
28
26
24
22
20
18
16
14
12
10
8
6
4
2
K
Treasury Bulletin
46
.INTEFIMAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax
(
TTpe of tor
In ihousandfi of dollare
..,.
October 1956
^7
.MDKETAEY STATISTICS
.
Table 1.- Money In Circulation
(in mllllcQa of dollars except aa noted)
I^per money
Sid of fiscal
year or uonth
Total
money in
circulation 1/
Total
paper
money
Cold
certificates
2/
Silver
certificates
Treasury
notes of
1890
3/
Federal
Beserve
Bank
notes
i/
HatlGoal
bank
notes
n<ed
states
notes
Federal
Peserre
notes
2,061
2,177
2,092
2,088
2,122
319
321
318
318
318
23,209
22,760
25,609
221
200
2,135
2,170
25,385
25,618
26,055
180
163
IU7
67
19''9
2T,l»93
26,0311
1950
1951
1952
1953
27,156
27,809
29,0S6
30,125
25,661
26,231
1951*
1955
1956
29,922
30,229
30,715
28,127
28,372
28,767
3''
33
2,11.8
320
319
318
1955-Dec ember.
31,158
29,231
ih
2,155
31"*
26,506
155
66
1956 -January
February.
30,228
30,163
30,339
28,331
28,263
ih
15lt
3'.
306
311
315
25,720
25,628
28,li25
2,052
2,071
2,125
25,731.
151
65
65
65
30,210
30,513
30,715
30,60U
30,757
28,289
28,575
28,767
31.
2,123
2,157
2,148
315
318
318
25,102
25,853
26,055
11*
61.
11.7
61.
28,61.7
33
33
2,111*
313
313
25,975
U5
6U
26,U9
lUU
61.
.
March
April
May
June
July
Auguet . .
End of fiscal
year or month
27, 3W
28,359
28,790
Total
coin
1,1.59
1,1.96
19119
1950
1951
1952
1953
1,578
1,678
1,766
"IS
Itl
39
38
37
35
3".
33
2,116
Standard
BllTer
dollars
Subs Id lazy
silver
23,1.56
211,605
Minor
coin
91.0
170
180
191
202
965
1,020
1,093
1,150
361
378
1,165
1,202
1,259
<il9
393
413
1,91.8
1955-Deceaiiber.
1,927
231
1,21.6
1956-January.
February.
March
1,897
1,900
230
231
232
1,221
233
235
237
1,253
1,259
"tSl
239
1,262
1,267
456
1,795
1,858
1951.
April
May
June
1,922
1,939
1,91.8
July
Ai:^ust.
1,911.
.
1,957
1,967
2I.I
Source: Circulation Statensnt of tJhltod States Money.
1/ Bcclides money held by the Troasuiy, money held by or for the account
of the Federal Reserve Banks and a^nts, and coin estimated to be
held outside the continental limits of the ailted States. Includes
paper currency held outside the continental lljnlte of the Tkiltad
States.
2/ Gold certificates were withdraw! frciii circulation In 1933.
X/
4/
^
r
93
86
81
77
21.3
73
70
61.
152
65
11.9
Money in
circulation
per capita
{in dollars) 5/
IBI..33
161.
212
223
237
1955
1956
309
271.
1.33
1*53
179.03
180.17
184.90
188.72
184.24
182.91
182.73
U9
186.87
1,221.
Wt5
IA5
1,235
iai£
181.04
180.42
lSl.19
1,21.1
IM
453
1*58
180.20
lBl.78
182.73
181.78 r
182.39
Treasury notes of I890 In circulation are being canceled and retired
upon receipt by the Treasujy.
Federal Peeerve Bank notes and national bank notes are covered by
deposits of lAvful money end are in process of retirement.
Based on latest population estlmatas by the Bureau of the Census,
Bevised.
U8
Treasury Bullet ii
.MOKETAFY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar OBOisita in BlUloos)
Ratio of eilTor
CoU
Bid of flecal
7«ar or nontb
(35 per
floe ounce)
Wltg
1950
1951
1952
1953
23,3't6.5
22,1>62.8
WJI*
1955
1956
21,927.0
21,677.6
21,799.1
2ii,li66.3
81»,230.7
21,755.9
SllTer
($1.29* per
fine ounce)
to gold and
silver In
monetary stockB
(in percent)
3,618.3
3,671.5
3,718.5
3,768.5
12.9
13.2
3,8U.3
1''.5
3,863.1
3,922.1*
3,99'*.5
15.0
15.3
15.5
15.3
lit
.6
13.9
1955-I>ec«Bber.
21,690. It
3,930.1
1956 -January.
FebruAzy,
March....
21,692.9
21,695.2
21,715.7
3,938.7
3,9'«.l
3,9W.2
15.1'
i5.lt
15. "t
April
21,7113.1
3,955.6
15.1.
^taJ'
June
21,771.6
21,799.1
3,973.''
3,991'.
15.5
Julj
August...
21,829.6
21,857.8
U, 009.6
Source: Circulation Statement of United States
sliver monetary stock see Table U.
Hmej.
Table 3.-
^,023.6
15. 1'
15.5
15.5
For detail of
Gold Assets and Liabilities of the Treasury
(In mllllonB of dollars)
Old of calenclar year or mcnth
Gold assets
Liabilities:
Gold certificates,
etc. 1/
Balance of gold In
Treasurer's accoxmt
,
.
October
19%
k3
.MONETABY STATISTICS.
Table 4.- Components of Silver NJonetary Stock
(In milliona of dollars)
Silver held In Treasury
of calendar
year or month
Eiid
Securing silver certificates 1/
Silver
dollars
Subsidiary
coin
2,003.2
2,040.7
2,073.5
2,109.7
2,140.8
321.9
312.8
301.0
289.3
278.3
U.4
2,171.1
2, i9U.lt
267.6
253.5
2,194.9
2,196.6
2,198.5
253.4
252.6
251.4
April
May
June
2,199.1
2,200.4
2,202.3
July
August...
2,203.5
2,206.4
Silver
bullion 2/
19'»9
1950
1951
1952
1953
195^
1955
1956 -January.
February.
March
2/
. .
^
Bullion for
recolnagc k/
Bullion
at cost
Silver
dollars i/
Subsidiary
coin i/
Total
silver
at $1.29+
per fine
ounce
94.4 2/
95.1 2/
82.0 2/
45.3
30.7
171.0
179.8
191.3
2ce.5
213.2
982.2
1,022.2
1,083.1
1,158.1
1,213.1
3,643.1
3,697.1
3,741.3
3,794.1
3,837.0
48.0
15.7
11.0
17.6
223.1
235.4
1,242.7
1,283.2
3,886.6
3,930.1
16.2
15.2
16.0
21.6
21.6
18.5
235.4
236.3
237.4
1,284.4
1,286.8
1,292.2
3,938.7
3,942.1
3,944.2
250.1
248.7
247.0
16.2
13.5
6.2
21.9
29.4
40.0
238.6
240.0
241.6
1,297.8
1,303.8
1,3U.2
3,955.6
3,973.3
3,994.5
245.1
241.4
6.5
5.2
47.3
51.5
243.5
247.2
1,312.6
1,316.9
4,009.6
4,023.6
3.6
1.7
3.9
6.3
Circulation Statement of Uftlted States Money: Office of the
Treasurer of the Uiilted States.
Valued at $1.29+ per fine ounce.
Incluies silver held by certain sgencies of the Federal Government.
Source:
1/
.
Silver outside
TreaouiT
In Treaaurer's account
^
4/
*
Valued at $1.38+ per fine ounce.
Valued at J1.38+ per fine ounce or at $1.29+ per fine ounce according to whether the bxilllon Is held for recolnage of subsidiary
silver coins or for recolnage of standard silver dollars.
Lees than $50,000,
50
Treasury Bulletin
.MONETAEY STATISTICS.
Table 5.- Seigniorage on Silver
(CiaiulAtlTe frco January 1, I935 - In
BdlHoDB of dollars)
Sourcee of seigniorage on Oliver bullion revnl'iod L'
Bid of calendar
jear or month
1935
1936
1937
1938
1939
Seigniorage
en colna
(ellTar and
minor)
18.5
I16.I
Mlac. silver
(incl. silver
bunion held
June lU, 1931*)
US.J
k8.7
Newly mined
allver (Proc.
Doc. 21, 1933)
Total
eel^Qlorage
on e liver
revalued
Potential
aelgnlorage on
silver bullion
at coat In
Treaeia^r'e
aceoiaxt 2/
3'..5
3'..7
7'.
'.57.7
3'..
1..2
530.7
3'>.7
25.7
562.7
1.8.3
580.1.
63.6
65.3
65.
3'..7
3'..7
3'..7
581. .3
31..
581. .3
3"..7
799.7
818.9
8eo.6
820.7
701.6
832.1
832.1
3'..7
3'..7
3't.7
3't.7
3't.7
938.1
1,069.6
1,077.6
1,087.8
1,098.1
333.2
161.2
3'..7
3't.7
111.7
81.9
57.2
3'..
1,109.3
1,119.2
1,130.0
1,139.3
3'..
1,11.8.1.
6.6
150.
833.7
833.7
833.7
833.7
833.7
833.7
3''.
1,155.1.
1I..3
87.6
87.6
87.6
151.0
151.5
152.1
833.7
833.7
833.7
3''.7
1,155.6
1,156.1
1,156.7
17.1
16.9
Ik.S
87.6
87.6
87.6
152.2
152.6
153.2
833.7
833.7
833.7
3'..7
1.8.7
1.8.7
3'*.
1,156.8
1,157.2
1,157.8
17.5
22.9
31.1
1.8.7
87.6
153.6
833.7
3'..
1,158.1
37.0
U8.7
87.3
I9W
WW
122.2
i8e.i
U8.7
Wte
21.5.7
1.8.7
WliS
igiA
299.6
362.3
1.8.7
1.8.7
87.6
87.6
87.6
87.6
87.6
19''5
te9.5
1.8.7
I9W
l'91.9
1.8.7
19't7
520.5
559.2
578.7
1.8.7
1950
1951
1952
1953
WSJt
1955
596.6
6te.3
1.8.7
6911.2
1.8.7
7te.2
792.9
807.0
1.8.7
1956 -January.
February
March...
808.2
309.8
812.1
1.8.7
April...
May
June p.
815.7
81B.S
819.7
1.8.7
July
821.5
W.7
1.8.7
1.8.7
1.8.7
1.8.7
1.8.7
1.8.7
1.8.7
.9
87.6
87.6
87.6
87.6
87.6
65.5
66.5
71..
8U.6
93.5
87.6
87.6
87.6
87.6
87.6
87.6
101..
111..
125.1.
13't.7
11.3.8
±
Source
bureau of AocoizitB
X/ Those Items represent the difference between the cost vali» and the
mcoetary value of silver bulUcn revalued and held to secure silver
certificates.
:
193"'
Natlonallted
ollTor
(Proc. of
Ai«. 9, 19314)
226.2
3oe.7
366.7
1.8.7
I18.7
191'9
Silver Purchaee Act
of Ji2ie 19,
16.8
36.0
58.0
63.7
59.5
91.7
19U8
Revlj mined
silver (Acta
July 6, 1939,
and
July 31, Wli^)
2/
581..
^.2
833.6
3'*.
3'..7
3'..
3'..7
326.2
1«2.1
508.1
616.0
705.6
271. .9
759.".
1,055.8
1,069.0
397.5
5U.6
758.8
950.6
1,01.8.2
967.3
717.3
IW.S
129.9
127.2
3".
.9
The figures In this colunn are not c\inulatlve; as the amount of
biUJ^cn held changes, the potential seigniorage thereon changes.
October
19%
51
.CAPITAL MOVEMENTS.
Data relating to capital moveraente between the
pages k^-kl
United States and foreign countries have been collected
As a result of changes In presentation
Introduced In that Issue, not all breakdowns previously
since 1935, pursuant to Executive Order 6560 of January I5,
published will be exactly comparable to those now presented.
193M-,
Executive Order IO033 of February
Treasury regulations promulgated thereunder.
g,
13^^,
.
and
Information
covering the principal types of data and the principal
The first three sections which follow are published
monthly.
They provide summaries, by periods and by
and Is published regularly
oountrlee, of data on short-terra banking liabilities to
In the "Treasury Bulletin."
Supplementary Information Is
published at less frequent Intervale. Reports by banks,
bankers, securities brokers and dealers, and Industrial
and claims on foreigners and transactions In long-term
securities by foreigners, and present detailed breakdowns
of the latest available preliminary data.
countries Is reported monthly,
and commercial concerns In the United States are made
ISS**,
Section IV provides supplementary data In five tables
which appear at less frequent Intervals. Table 1, short-
data reported by banks In the Territories and poasesslons
term foreign liabilities and claims reported by non-
Initially to the Federal Reserve Banks, which forward
consolidated figures to the Treasury.
Beginning April
flnanolal concerns, Is published quarterly In the January,
of the United States are Included In the published data.
April, July, and October Issues of the Bulletin.
The term "foreigner" as used In these reports covers
all Institutions and Individuals domiciled outside the
United States and Its Territories and possessions, the
official Institutions of foreign countries, wherever
such Institutions may be located, and International
Table
2,
long-term foreign liabilities and claims reported by
banks and bankers, and Table 3. estimated gold reserves
ana dollar holdings of foreign countries and International
Institutions, are published quarterly In the March, June,
September, and December Issues.
Table
U,
foreign credit
"Short-term" refers to original maturities
and debit balances In brokerage accounts, appears semi-
and "long-term" refers to all other
maturities.
A detailed discussion of the reporting
coverage, statistical presentation, and definitions
annually In the March and September Issues. Table 5,
short-term liabilities to foreigners In countries and
areas not regularly reported separately by banking In-
appeared In the June 1951+ Issue of the "Treasury Bulletin,"
stitutions,
organizations.
of one year or less,
Section
I
-
Is presented annually In the April
Summary by Periods
Table I.- Net Capital Movement between the United States and Foreign Countries
(In nllllonB of dollars; negative figures Indicate a net outflow of capital fnjn the thlted States)
issue.
Treasury Bulletin
52
.CAPITAL MOVIMENTS.
Section I - Summary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(Position at end of period In mllllona of doUare)
3iort-tern llabllltlea to forelgnera
Payable In dollars
Bid of calendar year
or Bcnth
,205. 1»
19112
ms
371* .9
,596.8
,883.1
,'*>.3
19'»'t
19^5
19W
19^7
19^8
19^9
1950
1951
1952
1953
195^
1955
Foreign
official
Otlier
2,244.4
3,320.3
3,335.2
1,947.1
2,036.7
2,239.9
2,678.2
2,922.0
foreign
'',179.3
3,043.9
International
Short-term claiae oo foreignere
Payable in dollars
Payable In
foreign
Loans to
Other
currencies
foreign banks
Payable in
foreign
currencies
473.7
13.9
17.9
21.6
25.5
40.6
246.7
257.9
329.7
392.8
l'9.7
706.3
72.0
86.4
105.4
100.3
319.6
137.2
169.7
245.0
290.5
30.9
34.4
54.6
47.5
98.1
948.9
1,018.7
827.9
898.0
968.4
292.9
361.2
222.7
151.1
177.2
490.6
557.1
494.3
506.3
699.4
165.4
100.4
110.8
240.6
91.8
211.0
163.9
l'»3.7
718.0
618.0
644.8
1,832.1
2,836.3
2,908.1
3,620.3
2,972.7
2,947.0
3,001.0
,302.2
3,5'»7.6
4,041.2
2,262.0
1,864.3
1,657.8
1,527.8
1,641.1
,546.1
,648.4
,922.5
,599.8
4,654.2
5,666.9
6,774.0
6,953.2
4,245.6
4,308.4
4,335.4
I*, 725.1
1,584.9
1,629.4
1,769.9
1,881.1
61.4
43.2
40.3
1,048.7
904.5
1,386.5
1,548.5
122.9
156.5
206.5
328.1
847.5
646.5
969.0
1,056.5
13,737.0
13,869.1
14,346.8
6,986.1
7,048.1
7,388.8
4,842.0
5,007.4
1,867.4
1,875.6
1,894.5
41.4
38.9
56.1
1,503.1
1,515.3
1,509.8
315.3
302.0
292.0
1,073.4
1,083.7
1,092.5
129.7
125.3
June p.
14,479.4
14,531.2
14,638.9
7,328.4
7,439.8
7,436.9
5,125.3
5,039.7
5,145.5
1,978.4
2,001.4
2,007.0
47.2
50.3
49.5
1,527.1
1,603.8
1,635.0
323.8
338.9
325.3
1,074.6
1,125.3
1,159-5
128.7
139.6
150.2
Jxily p..
14,848.0
7,457.6
5,330.7
2,015.6
44.1
1,625.8
336.5
1,145.1
144.2
lis.!*
1956-J*Jouftr7.
February
March...
kpni....
•toy
3,lt51.7
'»,906.5
70.4
51.0
44.9
72.2
1*3.7
78.4
101.6
U4.4
Preliminary.
p
Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In milllona of dollars; negative figures indicate a net outflow of capital from the
U. S.
CalsadAr year
or Booth
and notes i/
Ba^a 2/
purchasei
1935-'>1
396.83/
1942
164.2
241.3
513.6
377.7
WkJ
1944
1945
1946
492.4 3/
138.5
170.6
268.2
393.''
414.5
344.8
282.4
430.0
1,236.4
684.2
283.3
330.3
333.6
-95.7 3/
25.7
70.7
245.3
-15.7
States]
Total
purchaaea
Ret
Purchaaes
parcbaaes
Bet
Parcbaaes
Ittiited
Co3-porate and other
Goremuent bonds
Het
purcbaaea
Het purchases of
dene Stic
aecuritiea
430.2 3/
96.4
151.6
136.9
260.2
841.6 3/
75.5
194.6
171.4
357.7
-411.4 3/
20.9
-43.0
-34.6
-97.4
9,322.1
260.6
392.9
650.4
637.9
8,695.3
214.0
365.2
439.7
751.0
46.6
27.8
210.7
-113.1
K
367.6
226.1
369.7
-.r
666.9
432.1
376.7
514.1
375.3
664.0
-64.5
-150.6
-144.3
-21.2
2.9
782.1
570.9
652.2
784.1
2,011.1
1,116.3
659.9
844.4
708.9
1,066.6
-334.2
-89.1
-192.2
75.2
944.4
1,561.2
619.5
649.2
533.9
980.2
1,433.7
120.3
1.0
55.2
135.0
127.5
1,533.3
1,384.0
1,447.9
2,205.7
3,227.0
2,117.6
1,069.0
1,459.4
2,056.4
2,541.8
-584.3
314.9
-11.5
149.3
685.2
H
H
2/
%j
Total
salea
626.7
29't.3
-269.7
61.5
-47.9
96.4
942.1
107.7
108.3
673.6
533.7
646.0
800.9
1,341.1
1,356.6
231.4
728.0
792.7
612.1
-663.0
302.3
-82.0
6.2
529.0
120.0
200.1
212.8
289.7
324.7
141.6
188.5
197.4
283.6
296.0
-21.6
11.7
15.3
6.1
28.7
1956-Januar7
February
March...
33.9
30.5
208.3
34.5
20.7
26.8
23.5
19.5
14.4
26.2
-2.8
12.4
-6.7
167.5
109.7
156.4
111.4
108.7
176.6
56.1
1.0
-20.1
222.0
444.1
-.6
-13.9
-235.8
166.9
384.3
169.3
167.4
648.9
52.7
-.5
-264.6
April...
May
34.2
18.4
12.0
16.4
22.2
40.1
22.8
26.1
17.0
15.7
-3.9
.
47.6
31.8
28.4
23.1
7.2
157.2
155.8
107.7
135.2
120.1
92.2
22.1
35.8
15.5
227.1
227.8
158.9
174.7
155.5
119.6
52.4
72.3
39.0
July p.
310.7
284.1
26.6
36.6
25.5
11.2
141.1
U4.1
27.0
488.5
423.7
64.8
19l»7
1948
19'^
1950
1951
1958
1953
195J>
1955
Jme
1/
2/
p
U.4
2/
^/
35't.l
Throueh 1949, includes tranaactiona in corporate bonds.
Through 1949, Included vlth tnnaactlcas in U. S. Coremment bonds
and notea.
B9.8
650.2
569.1
1,U5.1
3/
Jasiiai7 4, 1940, throt^h Dac^ter 31, 1941; the breakdaim between
stocks and bcnla la not arallable for earlier years.
p
PreliAinary.
October
19%
53
.CAPITAL MOVEMENTS.
Section I - Summary by Periods
Table 4.- PurchaBee and Sales of Long-Term Foreign Securities by Foreigners
(m mllUona of dollars; negatlre flguroe indicate a net outflow of capital froi the OUted States)
Calei^ar year
5^
Treasurii Bulletin
.CAPITAL MOVBffiSTS.
Section
II
-
Sunmary by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners
(Position mt and of period Id -I'M"'" of
Coimtiy
dolUn)
i^
October I95b
55
.CAPITAL MOVEMENTS.
U
- Summary by Countries
Section
Table 2.- Short-Term Banking Claims on Foreigners
(Position at end of period In mllllona of dollars)
Country
Treasury Bulletin
56
.CAPITAL MOVEMENTS.
(In
Section II - Summary by Countries
Table 3.- Net Transactions In Long-Term Domestic Securl ties by Foreigners
thouaaMa of dollare; negatlTa fl«ur«s Indlcata oat aalaa b; forsleoara or a sat ontflov of capital trcm tha mi tad
Co«tr7
Stataa)
October 19%
57
.CAPITAL MOVUffiNTS.
Section II - Summary by Countries
Table 4.- Net Trtinsactlone In Long-Term Foreign Securlt lee by Foreigners
(In thouaasdii of dollars; ssgatlTa fl^urea Indicate net aalea
tiy
foreigners cr a net outflov of capital froB the Oilted States)
58
Treasury Bulletin
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Clountrlee
Table 1.- Short-Term Banking Liabilities to Foreigners as of August 31, 1956
(Poeltlon In thooaaodja of dollurv)
\
October /956
59
.CAPITAL MOVBffiMTS.
Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of July 31, 1956
(Position In thousanla of dollan)
60
Treasury Bulletin
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countrlee
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners during July, 1966
(
In thouBonds of dollttrs
October
Mh
62
Treasury Bulletin
.CUMULATIVE TABLE OF CONTENTS.
November 1955
October
19%
CIIMrTT.ATlV^
^<i^
Treas,
HJ
U.S. Treasury Dept,
10
.A2
Treasury Bulletin
1956
C.2
1
U S TREASURY LIBRARY
1
0031992
@FedFRASER