Full text of Treasury Bulletin : September 1947
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BUILMFM
SEPTEMBER -1947
UNITED STRTES TREflSURV DEPRRTMENT
OFFICE OF THE SECRETBRV
September 1947
Table of Contents
Page
Cumulative table of
oontente
Artlole Beotion:
Treasury financing operatlona
Statistical section:
Summary of fiscal statistics
Receipts and expenditures
Note:
11
A-1
1
^
Treasury cash Income and outgo
I't-
General F\ind position and debt outstanding
18
Ownership of United States Government securities
37
Prices and yields of Government securities (Including
securities Issued by Federal agencies)
^0
Corporations and certain other agencies of the United
States Government
37
Internal revenue statistics
73
Monetewy statistics
7^
Capital movements between the United States and foreign
countries and net position In foreign currencies
83
In those tables where figures have been rounded to a
specified unit, all calculations (Including percentConseages) have been made from unrounded figures.
quently the details may not add to the totals shown.
Treasury Bulletin
11
Cumulative Table of Oontenta
IflBue and page munlMr
ISU6
191*7
Sept.
Aug.
July
Juno
May
Apr.
Mar.
Feb.
Jan
Dec.
Nov.
Article
Statement by Secretary Snyder before the Vaye and Meant
Committee of the House of HepresantatlTeB
Statement by Secretary Sayder on H.B. 1 (tax reduction) before
the Senate finance Committee
The role of ssrlnga bonds In public debt management (speech
Secretary Snyder)
^
\iy
Secretary Snyder).
A-3
Spreading the public debt (epeech by Under Secretary Wiggins)..
^7
laerlca'e foreign economic policy (ipeech
Statement of Secretary Snyder on the price altaatlon
A^l
An Inventory of our national situation (epeech ty Secretary
Snyder)
A prosperous America of tomorrow (epeech
iQr
A-1
Secretary Snyder).
The role of the eavlngs bonds prograai In today's economy
(epeech by Secretary Snyder)
The economic problems of world peace and security (speech by
Secretary Snyder)
J^3
The budget and the problems of managing the public debt
(speech hy Secretary Snyder)
A^l
Banking and Oovemment (speech by Under Secretary Gardner).
A-3
Other spiseches by Treasury officials
Comparison of IndlTldual locome tax effective rates and 11abllltleef revenue acts of I913-I9U5
^5
^5
J^5
rioacclal operations of the United States Oovemment, fiscal
year 19U7
Asaett and llabllltlea of all active tanks In tbe United States:
Dscember 31, 1939-DBcember 3I I9U6
December 31, 1939-Jvme 30, I9I16
StatlBtlcB of Inconel
Individual Income tax returns:
Individual returns for 19UU
Individual and taxable fiduciary returns for
A-6
k-n
i.6
19^*3-
Corporation Income and taxable excess profits tax returns:
Preliminary report for igW*
rinal report for I9U3
*-7
^deral Home Loan Bank financing.
Treasury financing operations.
A-1
i-5
A-2U
(Continued on following page)
A-5
A-lg
A.2
i-1
A-1*
A-16
A-6
Oct
September 1947
111
Cumulatjve Table of Contents
-
(Continued)
Treasury Bulletin
Iv
Cumulative Table of Contents
-
(Continued)
laeue and page noinber
19^7
Sept
.
191*6
Apr .
Aug.
July
June
30
30
30
31
31
31
31
31
31
31
30
32-33
32-33
32-33
32-33
32-33
32-33
32-33
32-33
31-32
3"
35-37
38
3"
35-37
38
3^
3I'
31'
3t
33
35-37
35-37
35-37
35-37
3U-36
38
38
38
38
uo.
1*0-1*1
May
Har
.
Feb
.
Jan
Dec
.
Nov
Oeneral Fund position and debt outetandlng (continued)
Offeringe of marketable Issues of treasury bonds, notes, and
certificates of Indebtedness
Disposition of matured marketable Issues of Treasury bonds,
notes, and eertiflct^tes of Indebtedness, and gUEursnteed
securities
Offerings and maturities of Treasury bills
31
30
Sales and redemptions of United States aavlngs bonds:
Summary of sales and redemptions, by series
History of sales and redemptions
Sales by series, classified by denominations
Number of pieces sold, classified by denominations.
Sales by series, classified by States
Bedemptlons of series A-E, classified by States....
32-33
31
3''
31*
3^
32-31*
35-37
38
35-37
35-37
38
38
35
?5
?5
?5
1*0-1*1
1*0-1*1
1*0-1*1
1*2
U2
1*2
Sales and redemptions of Treasury savings notes:
Sunmary of sales and redemptions, ty series
Sales and redemptions of series C Treasury saTlngs notes:
Sales and redemptl one
Sales by denominations
Sales by types of purchasers
1*3
30
30
30
?5
?5
1*2
U2
1*3
1*3
30
Uo-
30
J5
30
1*0-1*1
1*0-41
U2
U2
U2
1*3
U3
1*0-1*
12
1*1*
Sales and redemptions of United States savings stamps:
Suuoary of sales and redemptions
Sales by denominations
Ul
U2
1*3
1*1*
1*U
37
39-
U2
1*3
1*1*
29
1*U
1*1*
1*3
1*5
1*5
UU
1*5
1*5
l*U
Ownership of United States Oovernment eeeurltlee
Summary distribution by classes of holders
1*7
U7
1*6
Estimated ownership by classes of banks and non-bank Investors.
1*8
1*8
'*7
Us
1*8
'lii
Met market transactions In Government securities for Treasury
Investment accounts, monthly beginning:
January 1939
January 1938
Treasury survey of ownership of eecuritles Issued by the
United States Government and by Federal agencies:
Ownership by ban^cs and Insurance companies:
July 31, 191*6
August 31, 191*5
Seotember 30, I9U6
October 31, 19U5
November 30, I9U6
December 31,
January 31, 19l*7
February 28, 19U7
March 31, I9U7
April 30, 191*7
Hay 31, 191*7
June 30, I9U7
Ownership by commercial banks classified by membership In
Federal Reserve System:
September 30, 19U6
December 31, 191*6
March 31 19l*7
June 30, 191*7
39
1*8
1*8-52
U9-53
1*9-53
>*9-53
wW
1*9-53
1*9-53
1*9-53
U9-53
1*9-53
1*9-53
1*0-1*1*
5U-58
5l*-58
5l*-58
.
U5-U9
Prices and yields of Gavernment securities (Including
securities Issued by Federal agencies"]
Over-the-counter closing quotations and ^jlce history for
public marketable securities issued by the United States
Government and by Federal agencies
August 30, 191*6.
September 30, 19U6
October 31, 19U6.
November 30, I9U6
December 31, I9U6
January 31, I9I7.
February 28, 191*7
March 31, 191*7
April 30, 191*7.
May 31, I9U7...
June 50, 19U7..
July 31, 191*7.
Chart showing yields of Treasury securities
.
5l*-56
60-62
55 57
55-57
6o-
55-57
55 57
•
.
Average yields of long-term Treasury bonds and high-grade
corporate bonds:
Bevislon in high-grade corporate bond avera^
Yields beginning with 1939
Yields beginning with 1938
Chart
60-62
55-57
55-57
51*
58
55
59
56
60
51-53
58
61
(Continued on following page)
63
58
58
Sk
59
59
65
60
60
58
58
63
57
59
60
6U
65
58
59
.
:
.
September 1947
Cumulative Table of Contents
-
(Continued)
Iisae and
pa^
nnsber
19it6
ig"*?
Sept.
*"«•
July
June
Ma;
Apr.
Mar.
Dbc.
Sot.
Oct.
Corporations and certain other agenolea of the
United States Qovernment
.Comblaed l}alai.ce sheet:
June 30,
19116
61,
,
65-69
September 30,
19>l6.
62,
66-71
Oaeentier 31, 19lt£.
62.
65-71
Harch 31,
^i'*l
67-72
Loans out6tar.dirL^,claaelfled by type of loan:
June 30, I9U6
September 30, I9U6
December 31. 19«6
March 31, I9U7
Income and expense:
Fl seal year I9U6
rirst three months, fiscal year 19^7.
yiret six months, fiscal ysar 19^7...
First nine months, fiscal ysar l?**?-.
Sources and aocllcatlon of funds:
IHscalyear l$k6
First three months, fiscal year 19U7.
First six months, fiscal year I9U7
First nine months, fiscal year 19^*7. •
.
62-6U
63-65
63-65
611-66
70-75
62-67
62-67
58-6U
76-82
68-711
68-711
.
65-72
Internal revenue etatletlca
Collections of Internal reve nue
Siunmary data
Chart
Comparative details for current periods
7l»
T5
76-77
6z
63
6I1-65
7I1
75
76-77
67
68
76
69-70
78-79
77
?5
75-76
68
69-70
76
77
78-79
75-76
68
69-70
61
8I1
62
63-6U
86-87
Monetary fltatlstlce
Balance sheet of the Sxohang* Stabilisation TaaAt
June 30, I9U6
September 30, I9U6
December 31, 19'»6
March 31, 19I17
Oold assets and liabilities of the Treasury
Increment from reduction In weight of gold dollar,
cumulative to:
September 30, 19't6
December 31, 19'l6
March 31, 19117
June 30, I9U7
Treasury gold receipts, for recent quarterly periods.
Monetary stocks of gold and silver
Components of silver monetary etock
Silver production in the United States and silver
acquisition by mints and assay offices
Seigniorage on silver
Money in circulation
66-67
81-82
81-82
79
67-68
69
79
72
78
72
"83
78
72
"68
89
68
83
83
69
72
72
68
69
90
75
69
70
71
90
91
92
77-79
80-87
73-75
76-83
97-102
73
]l
Capital movements between the United States and
foreign countries and net position In foreign
currencies
Historical summary of net capital movement since 1935
Summary by countries
8I1-86
7I1-76
87-90
77-811
8I1-86
87-9I1
77-79
80-87
88-90
91-98
83-85
86-93
77-79
80-87
85-90
91-98
85-85
86-93
Details:
Hoy I9U6
June 19U6
July 19116
August I9I16
September I9I16
October I9I16
November I9I16
December I9I16
January I9I17
February I9I17
March I9I17
April 19117
911-96
103-105
811-86
88-90
9H-96
99-101
88-90
91I-96
99-101
88-90
95-97
85-87
-.
Position in foreign currencies.
91-93
91
88-911
98-10I1
91-97 102-108
97-103
91-97
97-103
91-97
87-93
106-112
September 194}
A-l
Treasury Financing Operations
Historical details of Treasury market financing operations Involving bonds,
notes, and certificates of indebtedness, beglrnilng in November 19UU, are
published in the tables on pages 28 and 2$- Details of weekly Treasury
bill offerings beginning in February 1^7, are shawn on page 30.
August certificate maturity
On August 1,
19'*^7
there
matured
one-year
a
Issue of 7/8 percent oertlfloates of Indebtedness
outstanding In the amount of <1,223 million. On
July 21, the Secretary of the Treasury announced
the offering of a new 11-month J/S percent certificate Issue In exchange, par for par, for the
maturing certificates.
not received.
Cash subscriptions
were
time measure.
It
to facilitate
war
adopted
was
on April
19'<-2
JiO,
financing and to stabilize the
market for Government securities.
In
Its
announcement of
policy,
the
Federal Open Market Committee stated
change
the
In bill
that since most of the Treasury bills outstanding
the Federal Reserve Banks, whatever
were held by
Increase
In
Interest
cost
the
to
Treasury
re-
the termination of the posted buying
repurchase option would be largely off-
sulted from
The new certificates carry the Issue date of
August
1,
and
19'+7
bear Interest
that date
from
at the rate of 7/8 percent per annum.
The Inter-
rate
and
Increased
by
set
the Re-
payments by
earnings
The Board of Gover-
serve Banks to the Treasury.
est will be subject to all taxes under the Inter-
nors of the Federal Reserve System took action In
nal Revenue Code.
April
with the
full
July
1,
Interest will
principal
The
194^8.
form
15,000,
$10, 000, $100,000,
closed
at
were
denominations
In
Subscription 'books
and were
the maturity
certificates
bearer
only
on
the
payable
be
in
date,
issued
In
close
of
transfer
the Treasury approximately
to
90 percent of the net earnings after dividends of
the Federal Reserve Banks.
of $1,000,
Armed Forces Leave Bonds
and $1,000,000.
were opened
to
on July
21
business
on
On August 1,
Treasury announced
19''^7
that
provide
completed to
the
Secretary
arrangements
armed
that
of
the
had
been
forces
July 23.
Exchange subscriptions for the new Issue amounted to $1,127 million, leaving $97 mil-
bonds may be cashed at banks and other
lion to be paid In cash.
September
leave
financial
Reports to the Treasury on the ownership of
Government securities Indicate that on June 30>
of the $1,223 million of
191^7 about 67 percent
certificates maturing August 1 were owned by re-
the country on and after
Qualified Institutions were
empowered to cash the bonds as official paying
agents of the Treasury without cost to the bond
owners.
Bonds presented for payment will be
cashed at their face amount plus accrued Intereat at 2^ percent from the date of the bond to
Federal Reserve
porting commercial banks and
Banks.
The ownership figures for June 30 are the
made (up to maturity).
Institutions
last
the
throughout
2,
19'+7.
month
the
day of
which
In
payment Is
latest available.
The bonds
Elimination of posted rate on Treasury
bills
The
Federal
Open Market
Committee
Federal Reserve System announced
on July
of
3.
the
19'*^7
former members
States
under
approved
Act,
been
have
of
Issued
to members
and
the armed forces of the United
authority of the Armed Forces Leave
August
<),
19'*-6,
In settlement and
Under the
compensation of accumulated leave.
the bonds were made payable five years from
Issue date but were acceptable In payment of
that It had directed the Federal Reserve Banks to
Act,
terminate the policy of buying all Treasury bills
offered to them at a fixed rate of 3/8 percent
per annum and to terminate also the repurchase
United States Government life insurance or national service life Insurance, and were subject
option privilege on Treasury bills. The new policy was
to
apply to bills Issued on or after
July 10, 191^7.
Existing policy was to continue
owner.
to apply to bills issued prior to that date.
This action was taken by the Committee after consultation with the Secretary of the Treasury.
the Act was amended to
proved July 26, 19'f-7,
make the bonds redeemable In cash at any time
after September 1, 19'f-7, at the option of the
to
Immediate
191^3
to
holder.
The posted rate on Treasury bills was a war-
Issue
payment
dates
October
1,
in
event
of
death of
the
were quarterly from April
1,
By Public Law
ap-
191+6.
25!+,
September 1947
SUMMARY
OF
FISCAL
STATISTICS
Treasury Bulletin
Budget Receipts and Expenditures
(In BlllloDB of dollarB]
First month,
flBcal years 19U6 to I9US
Conplete fiscal years,
iqU6 to 1QU8
y
Istlsated
Change
Change
I9U6
19^7
19**8
19'*7
to
19^
Receipts:
Internal revenue:
Income and profits taxes
Sttployment taxes
Miscellaneous internal reveaua 2/
66
718
CuatOBs
Other receipts J/
33
195
a,??"*
Total receipts
Less:
Net ^proprlatlons to federal Old-Age and SurrlTors Insurance Trust Tund
Net budget receipts
»
2,695
txpeadltures
National defense and related activities:
Var Department
Nary Department
Armed rorcea Leave Act of 19^6:
Bonds
Cash
Miscellaneous war and defense activities.
:
270
2.261
It,
79't
Total.
7,32*^
Veterans' Administration, interest on public debt, and
refunds of taxes and duties:
Veterans' Administration U/
Interest on the public debt
Refunds of taxes and duties
y
208
156
266
630
Total.
International finance:
Bretton Woods A^eements Act:
International Bank
International Monetary fund....
Sxport-Iorport Bank - capital atock.
Credit to Dnlted Kingdom
Foreign aid and relief
Total.
Aid to sxTlcultur. U/
Social Security progra
.
10
237
U/ 6/.
Public works
Other general expendltoree U/.
Beserve for cootlogeneles
31
32U
GoTerameot corporatloaa (wholly owned) etc. (net):
RecoaatructloQ finance Corporation:
National defenae and related actlTltles.
Other
Conmodlty Credit Corporation
Other
.
Total
Total
bud^t expenditure!.
Met budget eurplue (») or deficit (-) .
71
38
-'»3
197
26U
19»*7
I9U6
iqU;
19*18 1/
to
estimated
19»*g
1/
September 1947
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
Treasury Bulletin
RECEIPTS
AND
EXPENDITURES
..
.
,
September 1947
Budget Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In mllllona of dollars)
Xxpendl tnrea 1/
I«sa net
approprlatione
to Federal
Bet
Old-Age and
receipts
Surrlvore
Inaorance
Trust Fund Z/
Total reealpte
Tlscal rear
or month
Total
reottlpte
1938
1939
igUo
igiti
19U2
igiw!!!!!!!!!!
19U5
13k&
^It?
igUZ-January.,
February
Kareh
Internal
r«ronaa
Cuatoat
6,2U£
5,668
5.925
5.269
13.668
5.671
5,161
5.303
7,362
12,993
359
319
3U9
392
389
273
515
286
23.385
Its, WIS
22,lWl
321*
i.31
916
3.292
1A,239
W),703
'tl,6«5
5,T2't
39.379
k9h
36
39
2.309
2.578
3.993
Ul
3,20'*
5,l»go
Jnlr
2,U(^
2.126
37
3/
27't
9
37
35
V
398
333
239
"17
U|27U
5.>A6
2,62U
C/
ys
3.t93
It. 829 6/
Jtme
2/
y
y
y
I10.310
"tajr
ly
U8
3.1*83
3.860
't,6U3
208
•3.902
April
Source:
Other
receipt*
387
503
533
661
869
5.855
5.165
5.387
7.607
12.799
1.103
1,260
1.283
1,201
l.U¥t
22,282
Hatlonal
defense
and
related
activities
Total
expenditures
7.031
9.027
9.297
13.765
31*.
290
1.029
1,206
1.657
6,301
26,011
225
187
23J
331
381
72,109
87.039
90,029
1,61*6
79,702
95.573
100.397
5,635
1*3,038
>*3.259
63.711*
1*2,505
l'*,559
2U, 323
1*8,51*2
1*6,
etc.
5.985
7.313
7.109
6,079 i/
6,005
U57
ltlt,llt9
Oovernioent
Transfers
to trust
accounts.
6,1%
8,730
17,11*2
1*35
556
1,918
1.355
UO
3.820
3.113
1.523
1,1*12
261*
l*.378
3.911*
2.1*73
2lt
5.701
3.598
2.063
1.1*57
1,1*28
71
16
1
6s
339
2.556
2.865
It.OOl
2,206
2,706
3,059
1*32
5.1*73
3.851
5.5i»
1.728
1.327
7
1.1*93
18
2,397
3,669
2,075
979
51*9
l.Usi
306
1*6
Ket
corporations
(wholly
biidget
surplus
() or
daflcit
owned)
etc.
(net)
(-)y
-208
320
299
-1.177
-3.362
-3.910
1.051*
-6, 158
-21.1*91
1.893
-57,1*20
1.523
1.829
-7
-1,305
-51,1*21*
-53.91*1
-20, 676
+75I*
-311*
+706
108
-32
Mk
106
4£,102
20
-6lU
970
-1.1*1*5
-987
-67
-1.272
Receipts froB reductions In capital stock and paid-in surplus
available to be reissued under existing lev are Included as negative
items under expenditures.
Such reductions totaled $31*^ million,
includes deposits resulting from the renegotiation of war contracts.
Information on the amount of such deposits is not available on the
basis of Dally Treasury Statements.
On the basis of covering warrants, such deposits were as follows:
fiscal year 19l*3 $558 Billion: fiscal year l?**!*, $2,235 million: fiscal year 191*^, $2,0'"1
Blllloni fiscal year 19''6, $1,063 million, and fiscal year 19U7,
These figures Include so-called voluntary returns.
$276 Billion.
Dally Treasury Statement.
Excludee aaounte for public debt retlreaeat which are chargeable
to the Blnklag fund, etc. under ipeclal provlelone of laM.
For explanation eee tables which follow entitled "Social Security
Prograa."
Net receipts less total expenditures.
Such
Includes recorerles of U. S. Investnents In capital funds.
recoTerles totaled $51* nilllon In the fiscal year iqllO; »319 Billion In the fiscal year I9UI; $18 Billion In the fiscal year I9U2;
and $10 Billion In the fiscal year 19U3.
,
Table 2.- Analysis of Receipts from Internal Revenue-^
(In millions of dollars)
Xmployment taxes
Income and profits taxes
Social security taxes
Fiscal year
or month
1938
1939
Withheld by
employers 2/
5.671*
2,61*0
755
511*
2,189
2.125
7110
530
833
3,1*70
3.1*70
7,960
7.960
925
1,186
60U
69a
8D6
191*2
191*3
22,11*1)
16,091*
I9UU
1*1,685
1*3,902
1(0,310
31*,
I9UI
Federal Insurance
Contributions Act
(Old-age Instirance)
2,6H0
2,139
2,125
5,161
5.303
7,362
12,993
191*0
Other
y
Federal Unemployment
Tax Act (Unemployment Insurance)
Carriers' Taxing
Act of 1937
(Railroad
retireiaent)
2,279
2,232
98
120
150
109
121
137
170
158
180
185
180
185
209
267
285
283
380
',553
5.291
90
101
IDS
16,09U
1,1*98
26, 262
30,885
29,306
8.393
10.289
9.392
10,013
21,1*93
1,739
1,780
1,701
19,292
2,021*
51*6
2,117
lU
2S6
U6
3.865
58
387
llU
1*2
1.376
785
i,si*5
5,1*1*6
2,66U
3.222
«.65C
25
12
2,309
2,576
3,993
1.597
1.619
3.270
1*
3
1,218
778
1,012
too
31E
3to
12
June
2.1*92
121
8
1
12
112
July
2,126
1,382
525
757
191*5
191*6
191*7
39.379
19U7-January.
February.
March.
.
.
April
May
Source:
1/
3.1*15
't.27'*
655
35. 173
5Sl*
2lt, 881*
Dally Treasury Statement.
Tot further details, see chapter entitled "Internal Revenue Statia-
1.130
1.292
1.310
1,238
1.U59
^
Ejcludea receipt of Victory taxeo withheld pureuant to the Revenue
Act of 19U2.
Such receipts have been classified as "Other" income
and profl ts taxes.
See also footnote 2.
Includes unjust enrichment tax.
1
5
77
y
2,31*5
2,967
3.8U7
6,9'*9
7,725
8,0l»9
693
666
682
638
595
602
663
|*/
tlCfl."
2/
Miscellaneous
Internal
revenue
^
Fo r the period prior to September 193^, the dsta In the columne
entitled "Federal Insurance Contributions Act" and "Federal Unemployment Tax" represent collections under Titles VIII and IJ.,
respectively, of the Social Security Act.
Includes less than $500,000 in receipts from "Agricultural Adjustfflent
taxes."
Treasury Bulletin
Budget Receipts and Expenditures
-
(Continued)
Table 3.- Analysis of General Expenditures-^
(In Bllllona of dollars)
Taterane' Adalnistratlon,
lataraat on public dabt. and
refunds of taxai and duties
7l9cal 7«a
or Bonth
Total
general
•xpandIturea
Total
Veterans'
Adnlnlstratlon
2/ J/
Interest
on the
public
debt
Otbttr ganer*l
Refunds
of
taxes
and
duties
111 to
Total
»«rlcultor*
i/3/
Social
Securi ty
procraa
i/l/
a/
1938
1939
l.5«>7
1.561*
582
557
557
553
191*1
5.985
7.313
7.109
6.079
I9te
6,005
1,687
1.751
1.906
19't3
5.635
2.U56
19UU
19U5
19U6
19>H
6.1%
3.500
6.258
10.620
2,871
lU.Ultl
6,1*1*2
51*5
19W
8.730
lU.559
21*. 323
19'>7-Januar7..
1.523
555
926
9U1
l.oUl
1,111
1,260
59
i*,itl6
85>t
66
5.751
1,228
89
5.1121
1.51*1
87
91
U.327 10/
U,099
1.098
76
3.178
2.6U9
1.093
912
1,808
2,609
3.617
U.722
U.958
262
1.707
3.027
565
626
361
lUl
92
.396
1*10
21*5
572
629
93I*
rebruar/.
2.'t73
March
2,063
960
850
1.552
iprll
May
Juna
2, 206
1.329
2.706
3.059
i.a"*!*
2.389
59U
581
583
July
2,075
90U
539
3,01*1
68
51*9
181
593
571
2,1*72
3.938
9,882
81*7
7535/
998 11/
2.299
Wl
fubllc
work*
1/
sxiMadltuna
International
finance
1/
mnet
ClTllian
Conserration
Corps
and
work
p»ll»f
2/
2/
Othsr
1/
V
.
September 1947
Budget Receipts and Expenditures
-
(Continued)
Table 4.- Analysis of Expenditures for National Defense and Related Activities
(In alXllons of dollari)
Amed
»aT7
Var
Dopart- Dapar
moat
aeot
flical year
or Booth
forcaa
LaaTO Act
of 19>i6
A£rl culture
Depart-
1/
eot
federal
Security
Inderal
Vorka
Agency
latlonal SeleetlTej'Treasury
Houelne Serrlea
(adalnie Dapar tAxeaqy
tratlTe) Dent
Aceocy
Unttad
States
War
ShipMarltlM ping
CoBiDlS-
slon
Adaln.
Aid
to
China
Other la-
United
Vatlons
Belief
and
Surplus
property
disposal
Bahahll- agencies
1 tat Ion
1.029
1.206
1.657
6.301
26,011
191*3
19'*5
72.109
•7.039
90.029
19U6
llf.5lt2
50.337
27.800
19'*7
17.lii2
7.'*25
1.412
6UU
191*
19'<7- Jenuary
.
FebruaryNarcb
April
•tay
June
.
. . .
July
'c«:
•
1/
2/
j/
1*32
U90
667
.678
1^:
070
)a.2«j
>I9.2I|2
Ult
99
20,888
26.538
30.0»7
15.161
U,998
1.8U7
139
353
351
359
278
269
303
20
23
23
267
91
35
21
6
36
57"*
611
1.728
1.327
735
l.i*93
tkk
U15
362
383
979
"53
368
51
929
132
1.201
2.776
3.812
3.227
1.105
1.922
ItO
1.1*32
l,lt62
2.01(2
II40
695
I2U
691*
1,367
120
271
7"*
2.011
2.1U3
1,198
I. oil
153
133
122
60
215
228
185
6O8
539
91
-U"
16
llO
(0
99
-98
1
5
1
2
2
2
-lit
'J
3
2
1
2
It
2
20
12
13
-38
-27
1
U
It
1
5
3
3
2
2
3
6/
5
6/
1*5
297
1
3
i/
H
Dally Tnasur/ StstaoMat.
thao I50O.OOO.
Usa
U/
Adffllalitratlrs expenses In carrying out proTlelone of Act are
Included under Var, Vavy, and Treasury (Coaat Ouard) Departsente.
Includes war public bousing functions.
Includes war expenditures of Commerce, Justice, Interior, Labor, and
State Departments; Civil Service Commission: Ixecutlve Office of the
President (includlns Office for Smer^ncy Mana^eotent); Panaaa Canal;
Includes Deand capital stock of Smaller Var Plants Corporationfense Aid Special fund throu^ the fiscal year 19^3; thereafter
52
59
63
52
70
^
§/
31*
108
382
2l|
519
62
111
'
It
18
33
696
2.313
8.580
1. 1*57
707
1
596
673
892
l.U2g
aj^ndltures i/
Bonda Cash
1938
1939
1960
I9UI
I9i«
tlonal defense and
related
actlTltlai
111*
66U
1.501
ltlt2
307
102
103
52
1*5
25
63
12
15
I
-9
-3
I
-1
106^
795
991
1,022
611
189
101
132
51
81
1*9
20
16
12
6/
•uch expenditures are reflected within the respective departments.
Classification chan^d to reflect expenditures under "Hatlonal
Defense and Belated activiilea." Prior year expenditures are
Included under *'Oeneral.*
Iffectlve September 1, 19^6, expenditures of the K»r Shipping Administration are Included with the expenditures of the U- S. karltloe
Commission to which all functions were transferred for the purpose of
liquidation by December 31, 19^6. pursuant to Sec. 202. public law
U92, approved July 6, 19^6.
Mot classified separptely from other expenditures of these a^ncles
after June I9U7.
Table 5.- Analysis of Expenditures for Transfers to Trust Accounts, Etc.
(In millions of dollars)
fiscal year
or iDonth
Veterans'
Administration
Social
Security
prograa
1/2/
Oovernment
employees'
retirement
funds
1/i/
(U.
225
187
232
1938
1939
S.
11*6
73
331
381
10
191(2
1
11*5
75
87
93
103
191*3
M5
30
101
1.126
1,381
817
221
27"
318
302
3O8
107
177
197
2U7
223
191(1
l^k
556
1.61(6
191*5
19I16
1,918
1.355
191*7
19l(7-January.
71
Tehruary
Nsrch...
16
27
16
1
1
^rtl...
1(6
1
lt32
lt32
18
18
51*9
25
Hay
June
.
July
'ce:
•
1/
2/
.
.
Daily Treasury Statement.
Less than 1500,000.
Additional transactions are shown In Table 3Coaprlses Adjusted Service Certificate Fund and the Hatlonal Serrlee
Life Insurance fund, administered by the Veterans' Administration.
1/
share)
107
121
132
191(0
Aid to
apiculture
Tedaral
contribution
to District
of ColuBbla
18
91
126
71
-3
1*5
521
2/
^
Includes railroad retirement and railroad unenployment actlTltles. Tor
further explanation see tables which follow on social security program.
Represents transactions In commodity food stamps by Department of Agrlcxature. This activity formerly came under the Office of Distribution and prior thereto under the Agricultural Marketing Administration.
Treasury Bulletin
Budget Receipts and Expenditures - (Continued)
6.Table
Analysis of Expenditures of Government Corporations (Wholly Owned), Etc.
(Net)
(In mlllioot of dollari)
ritcal jmmr
or aoDth
1938
1939
19'K)
19'tl
19U2
191*3
19UU
19'*5
19W
13^7
19't7-JanttaT7.
Tabruary,
March
iprll
Total
-208
320
29?
1.054
1.893
-18lt
1.523
1.829
-7
-1.305
-31W
-193
225
101
-39
-21
20
-eiu
970
July
65
Sourca:
n.a.
•
1/
2/
^
-I.OUU 3/
-1.076 5/
2<
-590 kj
-^
116
Tadaral
Houeln^
Adalnlttratlon
Taderal
Public
Bousing
tothoplty
-5
-8
-5
U712/
108
10«
Kxport-Xaport
Bask of
Waahln^ton
136
210
3U7
2U2
-32
Juna
MV
Oommodit/
Oradlt
Corporation
-106
613
-6
-2
-5
-20
-1
Rooonitruction flnanoa
Corporation 1/
Hone Ovnart'
Loan CorBatlonal dafanaa
poration
and ralatad
aetlTitlai
1
-U3
55
17
-60
-UO
-239
-256
-3
15
12
1
1
-363
-396
-323
-275
-202
78
70
103
-16
-16
73
83
81
-15
-13
-18
-9
-12
Daily Traaiury Stataaent.
Hot aTailablo.
Lesi than 1500,000.
Includet tranaactioot on account of RFC Nortga^a Coapany, fadaral
National Mortga^ Aaaoclation, Office of Metali Reiflrra, Offica of
Rubbar Beserve. Offica of Dafanae Planta, Office of Dafeneo 3vpplies, U. S. Coaaerclal Coapany, Var Daaa^ Corporation, and Bubbar
Davalopaant Corporation.
Include! federal Crop Iniuranca Corporation, Tare Security Adainiatration, federal farm Mortga^ Corporation, Federal SaTlnge and
Loan Insurance Corporation, Federal Intaraedlate Credit Sanks Production Credit Corporations, and Tennessee Valley Authority.
Payaents of 1957 aillion were Bade during the fiscal year 19U6 by
the Apiculture Departaent (charged as war and defense actiTitlaa)
U/
J/
Bur&l Xlaotrlficatlon
Adalnlitratlon
Othar
-9
3U
-5
•
-59
U2
35"*
371
-1
-1
2,255
-319
1
3,189
2,682
U72
-727
-aU7
-288
-23
215
-1
-3
-7
-30
.UU6
-3»2
-159
27
Ui
1
17
50
-2
8
11
-3
328
138
-102
-73
3
-87
5/
-35
-18
119
75
-3
-71
1
1
-8
55
7
-23
37
-33
83
to the Coaaodlty Credit Corporation in reiaburseaant for agricultural ooanodities procured in connection with the lend-lease prograa
and reflected in previous azpandituras of the Coaaodity Credit Corporation.
Siailar payaants during the fiscal year 19U5 aaountad to
$1,182 aillion.
The act of Nay 26, 19'>7. authorised the Secretary of the Treasury to
eancel notes of the Coaaodity Credit Corporation in the aaount of
$0*2 aillion for the restoration of its capital iapalraent.
This
aaount Is treated as a general expenditure with a corresponding
credit under Qovernaant corporations (wholly owned), etc. (net).
A siailar payaent of $921 aillion was Bade in July 19^6, pursuant
to the act of July 20, I9U6.
Not classified separately froa other expenditures of the Corporation after Juna 19l«7.
.
September 1947
Bud^t Receipts
and Expenditures
-
(Continued)
Table 7.- Total Budget Receipts and Expenditures by Months, Beginning with 1938
(In Bllllau of doUara)
Calendar year
Apr.
Ma;
July
June
Aug.
Sept.
I
Net budget recelpta 1/
262
213
373
771*
3''7
557
30ii
uoo
61*9
273
265
331
191(1.
3iiO
Sitl
916
687
799
1,566
1,276
1*13
578
758
3, 51*7
565
695
391.
igita.
563
2,1*92
71*7
955
2,503
3,767
3,678
•,378
5,206
6,573
6,892
5,7U7
5,701
l,51l»
1,1*30
3,087
2,989
2,677
2,556
2,950
3,085
2,733
2.865
i*,569
6,2l>7
2,007
2,163
2,695
2,539
2,397
193a.
1939.
19'»0.
•
788
191*11.
2,7147
19i»5.
3,556
3,819
3,820
19113
308
367
29''
271
315
19U6.
19it7.
liWi
5,911*
I*,li79
5,1*73
1*1*9
397
587
372
Ul*7
678
676
300
279
711
1,135
2,527
1*1*5
561*
607
601
2,099
5,736
3l»,55i*
2,21*0
5,1*16
1*,118
1*,107
1*1*,
830
832
1,172
8,097
8,885
9,657
19,053
50,020
333
2,721
2,568
2,997
5,i*'»7
5,926
5,189
2,030
2,001
2,530
2,431*
U,i*78
2,51*1*
350
672
5,650
36I*
521
7U0
1*,918
5,831*
8,81*9
362
2,371*
2,361*
1,212
2,701
16,U03
1*21
1*6,01.6
1*1,601
Budget expenditures 2/
Excluding net expenditures of Government corporatlona {wholly owned), etc.
A.
1938.
1939.
191*0.
19I1I.
191*2.
1*92
1.71.
656
712
1,111
2,628
612
668
1,075
2,629
705
820
822
1,399
3,1*21
6,119
7,862
igks.
6,372
7,570
8,202
191.6.
i.,891
3,510
9,1*33
i.,602
1947.
3,005
3,91.6
3,1*92
191.3.
191*1*.
7,1*60
B.
631
730
783
1,315
3,753
566
930
895
887
1,528
691*
61*7
1,1U1
3,953
7,351.
7,1.66
7,1*35
8,525
7,859
7,968
1*,251
8,292
9,275
3,677
3,981
i*.i*o6
".,530
8,327
8,625
3,239
U,860
3,113
191*6.
19Jt7.
3,1*35
3,911.
9,266
7,901
3,81*5
i*,268
l*,001
3,598
9,112
3,86U
3,851
Bet budget surplus
-198
-385
-398
-771
-2,050
1938.
1939.
19I.O.
191.1.
191*2.
191*3.
-5,581*
I9l.lt.
-4,823
191*5.
I9I16.
.i*,6i*5
191*7.
f8li>
-1,073
-4,683
-1,042
706
191*6.
191*7.
Source;
1/
2j
818
1,598
5,160
706
1,529
5,215
759
7, lis
7,617
8,119
5,513
l.,51l.
l.,570
3,60»
8,100
8,821
(
9,752
5,352
3,61.1*
5,51.0
7,351.
2,796
61*6
737
721
869
2,083
5,937
817
1,858
6,363
2,51*2
7,1.56
8,021.
7,839
7,828
7,1*52
8,1.16
5,950
3,023
i.,656
5,1.1.5
97,158
90,552
2,557
3,618
1.5,801.
8,135
5,695
2,965
7,91.6
l.,58l
8,1.20
5,013
3,662
39,61*0
2,529
-40
-65
-48
-739
-3,404
-437
-442
.536
-1,637
-5,331
-296
-284
-455
-1,294
-5,761
-157
-311
.432
-1,329
-3,799
-2,447
-3,967
-3,823
-10,204
-39,618
-2,087
-2,004
-1,422
-5,426
-6,023
-3,420
-479
-5,740
-5,587
-2,282
-193
-1,716
-2,999
-1,327
-53,530
-52,737
-44,505
-4,204
-5,706
-2,208
-165
-3,004
-895
1,871*
5,931
7,535
7,930
6,611
2,851
8,31*1*
7.902
7,291
2,932
6,687
2,755
61*8
6,500
38,081.
^
1*1*,
113
3,669
+ ) or deficit (-) j*/
212
-21*5
-132
-22
-221*
-531*
-1,871
-5,164
-5,359
-3,693
168
+432
*167
126
-2,147
-1,952
-2,540
1,146
2,209
-369
-517
-479
-750
-3,058
-3,391
-5,952
-4,772
-5,040
-1,573
-1,424
-5,955
-5,342
-6,190
.944
.1,601
-193
-348
-247
-747
-156
-339
-237
-252
-2,037
-451
-499
-487
-1,185
-4,413
-3,758
-2,378
-3,727
-1,034
-5,105
-5,947
-5,862
-1,975
-1,207
903
-195
-402
-258
-1,133
-4,628
-4,896
-5,551
-4,357
-363
1,627
Including net expenditures of Government corporations (wholly owned), etc.
-5,937
-6,126
-1,105
-1,272
191*1*.
19l>5.
71*1
Eccludlng net expenditures of Covemnent corporations (wholly owned), etc.
-166
B.
718
771*
Including net expenditures of Government corporations (wholly owned), etc.
7,281
A.
61*5
8,110
8,557
9,51.1
191*1*.
191.5.
725
76U
-3,514
-2,373
243
464
1,90a
+2 102
,
-4,972
-1,591
-1,445
-6,028
-1,131
-987
Dally Treasury Statement.
Total receipts less amounts transferred to Federal Old-Age and
Survivors Insurance Trust Fund.
Excludes public debt retirements
-3,838
-873
-67
j/
4/
490
^
-5,776
-4,293
-1,976
-1,497
-6,134
-3,165
-499
1,723
-420
445
-43,594
-2,512
Monthly figures for the period January I938 through June 1944 are
not presently available.
Net receipts less total expenditures.
Treasury Bulletin
10
Trust Accounts, Etc., Receipts and Expenditures
(In allllonB of dollars)
Total trust
Fiscal year
or month
Federal Old-vA^e and
Survivors Insurance
Trust Fund
funds, etc.
[net re-
Becelpts
expenditures (-)]
1938
1939
+1,20'*
iglto
A35
191*1
•906
-1,613
+1
+1
+3
+10
19
+12
+1
91*0
931
1,190
1.363
1,1*07
1.185
1,357
1,377
1,71*9
l,'"23
1,607
1.6W*
71*
36
19''7-Janu«r7.
-125
February
March.
^17
-33
+38
+227
-2U6
April...
May
June
*269
•99
-63U
+26
+298
-358
July ....
-129
71
71
.
—
Ket
529
577
707
-5l(«
+6.
+€
+30
+C6
-37
Expenditures
1*01
19''7
19'»5
Hecelpts
530
580
717
I9't6
19UU
Szpendltures
'<02
-338
-2,222
+791
-52U
191*3
Ballroad Retirement Account
Unamployiaent
Trust Fund
ceipts C+)
or net
I3ks
national Service Life
Insurance Fund
261*
38
33
279
68
1*1
339
107
1*1
W5
Heceipte
U
-1*
+11
+26
+19
-11
1*6
316
905
2,127
2.351
+32
-23
70
65
72
•«
60
1*7
1*8
+5
-6
1,501*
-2
+6
-2
1.21*3
11*1*
11*1*
1.1*01*
221
273
217
1.561*
1.508
32I*
1,21*8
312
323
275
323
308
322
1*1*
1*3
36
1.399
1.567
I.5O8
1.280
1.289
+3
-1
+5
-15
+9
53
1*8
U73
228
1*88
-8
+6
218
-10
-5
66
71
Trust Accounts, Etc., Receipts and Expenditures
-
tures
107
l,2l*l*
-6
+e
+2
-2
+11
I^endl-
11*6
3
320
893
Becelpts
109
123
127
751
837
957
1,118
2,102
2.332
1.516
Net
11*8
763
838
959
l.Ul*
+1
+1
+11
Szpendlturea
1.312
101
175
50
91
171
125
U6
1
55
US
251
117
2S5
127
22
1*9
39
512
1*6
1*6
511
(Continued)
(Id milllonfl of dollare)
Seigniorage
on ellver
Increment
on gold
Other truat account b 1/
Flflcal year
or month
Receipt
Sxpendltures
-1*
323
+2l|
31*9
366
191*1
•35
+20
I106
386
191*2
+1*6
1*72
1*26
1938
1939
191*0
+92
+129
+620
-110
-302
191*3
191*1*
191*5
191*6
191*7
19 1*7 -January.
February
March.
.
327
325
331
Special deposit
EiCcounts and miscellaneouB funde 2/
Net
-51
-5
+90
+90
-16
+61
+20
+1U
-1*
+116
567
91*9
820
.072
+503
+1.669
+237
+118
296
160
121*8
.21*5
-61*7
.807
-372
1*8
-1*1*
-11*6
+71
+101
-39
April...
May
June.
+85
-185
-11*6
-lllO
21*9
389
-1*6
July ....
1*
87
83
-51
.
Source:
•
1/
2/
.
11*1*
Daily Treasury Statenect.
Less than $500,000.
(See footnote 2.)
Includes OoTernment retirement funde, etc.
Comprises Public Works Administration revolving fund, special
deposits (net), and, during the fiscal years 19^*0 through 19^.
y
^
-1*
658
53
Clearing
account
(
+261*
1.693
2.135
1.505
Sale a and redemptions of
obllgatlone
of Oovernmant
corporations,
etc.
in the
market (net)
+1.106
+288
+852
-1,809
-691*
-2.871*
-1.553
-95
-359
+555
-75
-113
-«
-56
+102
-7
-3
-93
+67
+37
+39
+3
-1U6
transactions in commodity food stamps by the Dejiartment of Agriculture.
Commencing July 1, 19^5, such transactions Eire classified
as "other trust accounts."
Bet receipts Id this column constitute net sales, and net expenditures constitute net redeoptions of obligations.
6
u
.
2
September 1947
11
Social Security Program: Section
I
-
Budget Receipts and Bxpendlturee
Table 1.- Social Security Act
do
BlUloDt Of dollars)
Bscslptt
Qreaa z«c*lpti
to
f9d»T»l Insuranea
OoDtrllmtlont Act
(Old-ac* Inturajice}
y
193»
1939
!<•••
Boolal 8«ourlt7 tax*i
or aoBth
V...
19'tO
igui
6olt.U
SLlt.U
631.2
712.2
7>8.2
530.'»
19112
1,01;.
19113
1.282.9
1,UT2.0
19IW
19'«
l.Ult.l
1.23s.
1.6'>lt-3
l.''59-5
19ll7^uiuar]r.
56.7
3t2.0
Much
90.1
lOO.J
107.5
97-7
119.9
15s. U
179.9
690.6
S95-6
1.130.5
1.292.1
1.309.9
19117
37.
^
126-9
868.9
1.103.0
1.259-5
1.283.0
1.200.8
165-9
212.5
211.5
lit. It
Ito.k
115. s
2611.U
12.0
23.6
69.0
3-5
U.J
7.9
1-3
July
7U.U
72.lt
1I46.7
217. •
200. It
1.11113.9
1(2.3
3l10.lt
128.2
Ul:]
266.2
?5-t
72.6
2i7.lt
I7I1.5
179-9
isU.e
352-3
9-3
>^
lat
raealpts
587.0
503-0
IU.5
Job*
iprll
AM
eat Tax Act
(UnenplOTveDt
iQiuranea) 2/
Sou. 7
19116
asooBti ertdltcd
014-i«<
hKral
•Bd Sarriroas Ik«vrVraat fmi
16.2
117.7
13-9
l».7
67-8
13.1
"11
2.5
71 .U
3-1
Izpendlturaa
Oraata to Stataa
FuhlU
Social Saeurlt7 AdalnlairatloB
flieal /auor aoDth
AdalnlitratlTO
azpa^eat
Serrlcl
Ud
to
01d-a«a dapoad- Aid to
the
aaalat- aot
blind
anco
children
1938
1939
|:f
ISW
igiti
19112
^it?
ijiiit
19115
19116
19117
19ll7-Jantiar7.
V*bruar7
Narch...
April...
HW
Jane
Jalr
Vnaaploj*
aent coapaneatloo
adalnlttratloB
Public
health
woi^
5/
DapartDOnt
of
Labor
CMldr«B**
Boraaui|/
f
Health
MaUrnal
Sarrlca*
and child for
crippled
health
•errlce* children
U.
Child
welfere
•errlce
8.
iBploTnent
Serrlce
1/
Bafunda
of
Ixcaia
of
ezpendl
turei
Treasury Bulletin
12
Social Security Program
Section
I
-
(Continued)
-
Budget Receipts and Expenditures
-
(Continued)
Table 2.- Railroad Retirement Account
(Jn
lllloM
of dollar*)
MeelpU
TitetX ymr
or Bonth
Ixpeadlturaa
Mai alt.
Carrloro
Taxlac
Act of
1937
tratlT*
•jpenios
total
y
igits
19ti6
150.1
109.3
121.0
136.9
170.0
208.8
267.1
285.0
282.6
IU9.O
110.0
123.3
128.2
1U«.5
220.2
265.3
311.3
19't7
380.
193«
1939
19M0
i9>a
igitf
I9't3
19m
Ixcais of
Tranafcr* to
SAlIroad Betlr«manX iccount
(trust Account)
2.6
2-9
2.6
3.8
7.6
11*0.9
2llt.8
5."
2-5
1».3
Uli.U
.It
Wt.o
U5.5
3
.2
U5.2
.2
June
2.6
12.2
112.0
1.5
1-5
Jnl7
6.0
512.2
.6
.
'061
•
1/
.7
2-3
-8.7
-21.6
i2U.lt
302.8
. .
2/
t«L^a
-1.1
1.5
U.9
76.8
April.
Hay
tureo
of
107.1
120.7
262.7
3O8.8
291.9
298.5
19U7-JaBuai7.
Tebzuary.
March. .
ezpeDdU
RoftiBda
295.'*
u.u
.2
•
Dally Troaaory Stateaent.
than 150,000.
Indudai only oipandlturoo from appropriation* aada specif ically for
LaM
2/
-1.8
26.3
12.8
-77.3
U2.9
-U.8
-76.6
lt2.9
-12.0
-110.5
511.6
506.2
adalnlstrativa szp*n*«s relating to the Ballroad Rotlreaent Act.
Oorervd by appropriation* from the Oaneral Tund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act 1/
(la
illiaa*
tf dollar*)
Bacalpta
nieal je&r
ar month
Ixpandl turaa
Railroad
uzMaploTMoat
AdMlnlatratlTo ax.
paaaas (Railroad
UnoBplo/Maat
Insurance Adatnlatratlon fund) j/
Inaxiranea
eontrlbutlona
2/
1938
1939
5
.5
5.0
10.9
6.(
8.2
5.0
•
19110
It.
19U1
191*6
6.8
8.5
10.3
12.1
13.2
12.9
19't7
lit.
19>I2
WkJ
19I14
I9't5
19^7 -January.
Tahruazy.
March
April
May
June
9
2
•
1/
2/
2.5
2.2
3-2
3-7
II1.9
12.6
13.1
13-7
u
.2
.1
3."*
•
.1
3-2
July
eai
SA
Dally fraaaury Stataaant.
Uaa than (30.OOO.
Operatod aa Eallroad UnaaploTaant Iniuranca Idalnlatratlon Tund.
Bapraaenta 10^ of eontrlbutlona undor the Ballroad Unaaployaant
Znauranca Act; the reaalnlng 90^ 1> dapoalUd la tha Railroad UnaaplOTBaat Inaoranca Aooount, UnaaplOTsent Truat fund (See Sactlob
Ixoludaa aaouata ^iproprlatad to Railroad OneaplojXI, Table 3)*
aat laauraaca Adalnlitratlon Toad aqulralant to aaouata of taxaa
oollectod for the period January 193^ through June 1939 froa eaplo/ara aubjeot to tha Ballroad Unaaplo/aant laauranca lot. Theaa
asounta ac^racatad $17*7 Billion and were dlatrlbated b7 ealaadar
.2
.5
.8
.5
.8
•
5
•
5
Tranafara to
Ballroad
UnaBploTaant Inauranea leconnt,
Szcaaa of
azpandlturaa
5/
UtaaBployaant
Truat fund U/
.5
.1
7.5
J-'
6.0
U.l
-2.1
11.7
8.9
9.6
9.2
.2
.U
-2.6
.5
•
5
-.1
-5
-5
-3.8
.5
•5
.5
j/
4/
^
yaara* aa follovai
I936, $2.7 mlllloa: 1937. l5-3 Billion; 1938.
$6.6 Billion; and for the flrat alz aootha of the calendar year
Billion.
Theaa amount! are Included in Table I uadar
1939. $2.9
federal QaeBployBeat Tax Act (unemployment Insurance).
Includea only azpeadlturea froa approprlatlona made ipaciflcally
for admlnlatratlTa ezpenaas relating to the Railroad U&eaployment
In auranea Act.
Bapreaeata azceia funda of the Railroad ITnamployBent laturance Ad.
minlitration ISind (undar Act of Oct. 10, 19U0}.
CoTorad by approprlatlona hy Con^aaa*
7
u
3
3
a
U
13
September 1947
Social Security Program
(Continued)
-
Section II - Statements of Trust Accounts
Table I.- Federal Old-Age and Survivors Insurance Trust Fund 1/
(CuBUlatlve from organisation
In ailliona of dollar*)
-
Ixpendituraa
Rscaipti
Ind of flacal
/asr or aonth
Ittteraat
AppropplaTotal
raoaipta tlona br
inveatCongraaa
«nta
19'*t
782.7
1.199-6
1,792-1
2.536-2
3.502-8
«. 720-7
6.116.0
191*5
7.51*9-8
193«
1939
19I1O
191*1
19><2
19'*6
19'*7-lla7-
10.1*50-8
-
JVM-
10.558-8
10,531.2
JuljT.
Soureai
1/
2/
01d-a«a
bone fit
paynant*
Roinburaaneot
for adnlniatratiTa
ezpanaaa 2/
Sal aria*.
Unexpendad balance
Bureau of
Old-a^e and
SurviTort
Inaurance j/
InToatment*
17-7
5-1*
5-1*
ltl*.6
19.3
87-1
1*7-'*
19-3
35-1
2.3931
3,288-8
l'*3.1
2111-1
138.6
275.6
11,1*19.3
301-5
U5z.It
99-5
209-8
359-1
5,711-'*
liOl*.7
669.6
51*3-7
7.021-3
8.259-5
9.719.0
528-5
676.3
839-7
936-1*
,29l*.l*
78
5
l,10ll.0
,760.7
1,529.6
206.0
25.2
6.613-U
7.6U1.U
8,798-0
739-7
839-7
839-8
1.718.2
1,760.7
1,803-9
1,1*90.6
201*. 8
1.529.6
1,568.9
206.0
207.0
22-7
25.2
28.0
8.732.6
8.798.0
8.827.3
9.711-1
9.719.0
9,791.1*
777.2
1.180.
V
Sally Treaeur/ Qtateaant.
Xncludee traneactlone effected under the predeceaaor Old^Age Beaerre
Account.
Under Section 201 (f) of the Social Security Act aMndseota of 1939-
2j
l.7l*l*.7
12-3
39-1
65-9
2,397.6
3.227-2
93.lt
l|,268-3
126-0
152.9
5,1*1*6-1*
190-
It
In
Oeneral
Fond
765-0
1,155-0
1.705-0
6.935-8
10.558-8
191*7
Total
expOQdituraa
662-3
1.177-2
1.738-1
2,380.6
3,201.6
113.0
.1
•5
6.2
1*,236.<
5.1*08.9
6.51*6.3
7.51*8.7
8.71*2.3
5.2
7-0
16-1
32-0
13-5
7-3
8.318.7
360-6
In dlaburalng
officer'
account
1-9
3-0
6-1
10-8
20. 1|
2U.5
21.1*
U9.2
1*8.
53.3
U8.ll
6. 71*2.
72.
8,700.3
5U.6
Under proriaiona of the Labor-Tedaral Security Act, 19U7. aalarlee for the Bureau of Old-Ace and SurriTore Insurance are payable directly froa the Tederal Old-A^ and SurriTore Inaurance
TruBt fund-
Table 2.- Railroad Retirement Act
(Cuaulatire froa organitatlon
Ind of fleeal
year or aonth
-
lo ailliona of dollare)
Bxpeadlturea
Becelpta
Unexpended balance
Total
receipte
Appropriatlona
by CoD^reae
Interest on
inTOstBcnte
Benefit
pay Dents
InToatfflanta
In Oeneral
Tund
1U7.9
268 -U
390.8
506.9
650.9
871.5
l.lUU.l
1,U68.1
1,780.1
2.102.6
1938
1939
19I1O
19U1
19U2
19U3
I9UI*
19U5
I9U6
191*7
2.080.6
2.102.6
2,737.7
I9U7-IIVJune
July
Source:
IU6.5
26U.8
38U.9
l.U
3.6
5.9
1*98.5
639. U
8.U
11.6
17-3
27.2
U2.U
52.3
86.5
Old
6U.5
86.5
2,701.1
86.5
85U.2
1.116.9
1.1*25.7
1,717.8
2.016.1
2,016.1
2,
U19.9
5U6.1
676.6
811.0
952.5
i.iou.u
1.277.7
68.1
82.7
92.1
87.0
10U.8
19U.9
333.0
515.6
675.7
82U.9
66.2
67.2
79. U
7U.0
91-5
178.0
318.5
500.5
657.0
8O5.5
1.261.2
1.277.7
l,29U.7
819.U
82U.9
1,U93.0
801.0
805.5
1,300.0
79.8
I85.6
298.
Dally Treaauz7 Stataaent.
Table 3.- Unemployment Trust Fund
(Cuaulativ* froa organitation - In ailliona of dollare)
Snd ol
year c
.2
13.2
10.8
2.5
1.6
U.l
1.1
.5
.9
1.2
.6
1.2
175.2
In diaburaing
officer* r account
1.6
2.3
1.8
10.5
11-7
12.8
11.U
IU.7
17.8
18.2
17.9
18.2
17.8
Treasury Bulletin
li^
CASH
TREASURY
The
follow present revised
operating Income and
whloh
tables
figures
TreaBUi7
on
cash
oasa
of
new
the
deductions
tirement
Both the oasb operating Intotals are
lower
principally because payroll
series,
Federal Government employees' re-
for
are
figures average
annual
the
and cash operating outgo
come
In
In
million.
t6o
noncash transac-
now considered as
tions whereas In the old series they were treated
as
cash budget expenditures
financial
governments,
and oash trust fund
funds coming
The
new
series
tables has been designed
of
rather detailed analysis
of the adjustments needed to translate budget and
trust
oxirrently
to
feature of
analysis
Dally
Treasury
operating basis.
Another
transactions
fund
Statement
a
oash
a
the
revised
In
the
tables
Is
are taxes,
publlo
of
(although
ing,
cash
Include
a
ment
borrowing, thus permitting a reconcilia-
tion
of
of
the
cash
operating
Income
and
outgo
Armed forces
flow of funds of necessity must eliminate
Intra-governmental transactions.
In this way It
Is possible to derive a single figure for the net
oasb operating Inoome or outgo of the Federal
Government and Its combined trsmsactlons with the
public.
uals,
The public, of course, includes Individbanks, Insurance companies.
corporations,
provide an extreated as a non-
leave bonds
such bonds
are
cash expenditure at the time of Issuance and as a
cash expenditure at the time of redemption (ex-
turned
where
cept
premiums
should be
It
noted
that
operating Income does not
can reduce
Some
veterans
for
In
part
the
of
publlo
the
net
Insurance
by
a
given net
cash
mean that the Treasury
by the
debt
same amount.
cash operating Income may
Itself Involve Increases
debt held by
In
trust
Thus, net receipts
the publlo.
soeltO. security investment
the
'
).
of
a
this definition
obligations are Issued as part of budget expendi-
balanoe.
such
of
such special cases as when publlo debt
In
funds but not
together an analysis of the flow of funds to and
from the Federal Oovernment. Figures relating to
less Involuntary nature
minor exceptions). Borrow-
or
are
of course, falls outside
except
treated as
are
fees,
more
a
there
figures with changes In the Treasury General Fund
The purpose of developing Treasury oash
operating Income and outgo figures Is to bring
public
retirement and pension
and other receipts from the
duties,
payroll deductions,
to extend the
operating Inoome and outgo to
statement on cash borrowing and repay-
of
from the
In
ample of this:
provide
and looal
State
the oash operating Income series if they
part^ of
tures.
receipts.
to
Institutions,
etc.
As a general principle It may be stated that
parti oularly In the
minor,
cash operating Inoome or outgo,
net
the
where revisions
about
are
other
OUTGO
AND
The revisions
outgo for reoent years and months.
In the old series
INCOME
funds
are In-
cluded as part of the net cash operating income
even though they Inereaee the debt to the extent
that public debt obligations are Issued by the
Treasury to the funds. A oorresponding amount of
debt held by the publlo oould, of course, be paid
off.
Hence,
available
publlo
to
only
Increase
the
the
net
reduce
debt
(rather than
General
operating Income is
cash
in
the
the
total
Fund balance.
hands
of the
debt) or to
Similarly,
would require inoreases
in the volume of debt held by the publlo (unless
a decrease ooourred in the General Fund balance).
net cash operating outgo
.
September 1947
13
Treasury Cash Income and Outgo
Table !•- Sumnary of Cash Transactions
(In alllloaa of lollari)
Caah operation* other thwi horroviag
Caeh op«ratia< laooae
Caah operatlac eatge
71 teal 7«&r
or Booth
Caah
bud^t
receipt!
I9UI
19U2
Caah trust
aocoont
receipt!
7,287
12,776
22,235
Wt,081
2,083
2,515
3,010
3,903
19"^
li6,3Ug
l*,69U
19116
Us, 885
11,909
19''7
U2,9li6
19Ut (latlaatod).
'•0,952
3,697
3,731
19IW
19U6-Jiilr
Au^utt
Sapteabar.
Octobar
loTeabar.
Dacesbar.
l9U7-January
Tebniary.
Hareh
2,1190
2,113k
..
1«.1»77
2,361»
11,076
250
505
131
3,7115
lUU
«,373
5,701
2«5
2,51*11
.
.
. .
. .
^08
563
205
April
2,5115
2711
Xa/
Jono
2,861
5,335
^'
J11I7
2,350
215
Caeh
Total
bud^t
expandituree
12,850
33,520
7«,«99
93,971
Caeh tniat
account
expenditures
tat 1 en
Clearlnc
account for
outatandlo^
fund 1/
ehadce, etc.
Szchan^e
StahllU
Vet caeh
oparatlnc
lacoae {+)
or
outgo {-)
Hot caah
borrowing
(+) or
repayment
of
borrowing
(-)
lacreaae (+) or
decroase (-) la
TroAanrj casta
Ooneral
Fund
balanoe
Exetaaa^
Stabilization
Fnnd 1/
Treasury Bulletin
16
Treasury Cash Income and Outgo
-
(Continued)
Table 3.- Comparison of Total Budget Expenditures with Cash Budget Expenditures
(In millions of dollars)
Less:
Noncash budget expendlturee
Budget expflDdltures InvolTing
GoTernsient corporation
paynentB to Treasury
iiiuanca of U. S. securltlee U/
Payroll
daduetloD
TransHoteB
Kepay- Investfor
fert to
Ejccobb
iBSued
Bent of sientB
OoTOrnAnted
Adtruit
profl tB
In
to
•nt
esTo tni»t accounts
forcoB JuBtad
Inter- Xarn- capital
tax
U. S.
stock
ployees'
sarvlce Intareet
account*
la are
In^s
refund
secuDational
and
ratlrebODdB
bond*
Bank and bonds
paid-to rities
•nt
fund J/
surplus
Interest pajnents by Treasury
Total
budget
oxpead1 turei
Tlical year
or Bonth
On
sayings
bonds
and
Treasury
bills
To OoTemnient
corporations
(partially
owned)
y
19ltl
IV766
917
19U2
769
81
19W>
3U,?89
79,702
9^,572
1,203
1,601
130
213
rs^
100,397
3,631
3l»2
19"^
63,71't
2, '38
19'tT
•2,505
37,000
6,261
775
"35
U67
500
3,61*1*
7't6
51
2,932
2,755
7t
106
2,965
2.529
3,662
163
577
U39
igitj
19>te
(Istlaated)
19U6-July
August
September.
October.
November.
December.
.
.
.
..
58
167
207
25U
331
381
56
«35
325
556
227
269
U29
567
22
-20
-12
-7
-5
88
1,61*6
290
eii6
1,918
1,355
281
259
1,8U6
-108
-86
-8
731
l.iw
207
1,309
-5
15
631
13
32
22
2U
20
>««
16
2U
23
2I10
32
1
1
II
17
27
21
1
u"*
I]
89"*
108
118
-970
1,366
-916
iS
-1
-1
-1
-8
-6
-5
*9
-5
2>*<
293
-1
-1
-1
-1
-1
-1
1,109
70
3,222
11
1
3
2
1*7
lt,002
31
32
1
U6
21*
267
1
1*32
U97
18
20
23
91
35
-150
-1
-1
-I
16
36
-30
-1
July
3,669
68it
66
Source:
•
1/
ZJ
Treasury Statement; estimates
for the fiscal year igUg are from the B«Tie» of the 19'tg Budget released August 20, 19l*7.
Less than $500,000.
Accrued discount on saTlogs bonds and bills less interest paid on
sayings bonda and bills redeemed.
Interest payments to wholly owned OoTernmeot corporations are not
deducted because they are treated aa nagatire expenditures when
recelTed by corporations; hence payment and receipt offset each
Acttial figures are based on the Dally
y
!*/
^
159
2,802
1,952
3,223
1
April
59
2,61*9
2,529
278
269
303
626
2,898
2,858
2
1
22
21
21
3,851
lU
36,225
2
1
1
5,5''0
1
30
5
16
June
36,21*1*
"5
71
•
lU
May
96,767
61,376
31
32
-3
-2
-2
Us
32
36
98
376
383
739
25
IS
78,1*99
2U
l.^O
"3
93,971
6
-3
-3
3,916
3,598
3,
115
39
2
6
2
March
19U7-JaB\iary....
February. .
18
136
38
17
72
221
-39
-12
12,850
33,520
319
18
10
6
Equals:
Cash
budget
expenditures
2,1*6U
1
3,619
3,112
-3
•,91'*
2
2,985
It
136
other in the expenditure eeries,
?or detail, see Table 5 on budget raoelpte
"Treasury Bulletin.'
Budget expenditures iovolTiog the issuance
treated as noncash at the time of original
penditures at the time of redemption.
The
issuances, or net redemptions (-).
See footnote 2 to Table 5 on Treasury cash
and expenditures In the
of U. S. securities are
payment and as cash exfigures shown are net
income and outgo.
Table 4.- Comparison of Total Trust Account Transactions with Cash Trust Account Transactions
(In millions of dollars)
Trust account receipts
Less:
fiscal year
or month
Total
receipts
Total
noncash
receipte
2,638
3,191
3,926
5,053
676
916
1,150
7,059
7,675
6,228
5,809
2,365
2,766
2,532
2,078
August
September..
862
600
272
October..
Hovember. ..
December...
315
557
195
19'*7-January....
February. ..
3U2
801
March
290
191*1
191*2
19''3
191*1*
19'*5
19U6
19"7
191*8
(Istlmated)
igltS-July
.
Payroll
deductions
for
GoTommant
employees'
retirement
167
207
25"
331
381
56
88
'•35
325
556
227
269
1*29
1,61*6
1,918
1.355
731
l,ll|0
65"
37
67
631
13
32
22
15
65
1
1*8
16
52
1
17
27
21
2)*
61*
98
71
1*7
•
16
••a
lU
1
22
21
21
198
April
35'*
917
722
80
U62
763
July
785
570
•
Tranafere
ehown as
budget
expenditures
567
6U6
May
June
Source:
Interest
on
investments
in U. S.
securities
Trust account expenditures
Leas:
Nonoaah receipts
1
1*6
1
1*32
1*97
18
51*8
290
281
259
207
Armed
forces
leaTe bonds
redeemed
for
insurance
premiums
Equals:
Cash
raeeipts
1/
2,083
2,515
3,010
3,903
U,69'*
",909
3,697
3,731
53
By
partially
By trust owned
accounts Oovern-
Other
2/
Equals:
Cash
expenditures
1,730
U,80'*
l*,26U
7,275
6,267
8,198
7,331
6,137
-652
1,808
520
3,73?
3,78U
7,167
1,338
1,925
7,01*8
l*,060
5,200
3,666
3,362
1U7
3,136
3,01*8
-120
601
271
29U
'*33
5U
313
317
-1*2
-23
3l*U
-22
189
3,882
3,001*
I*,
128
3"
5
88
167
692
2,872
1,210
1,065
U80
108
1,5'*9
-781
73
"*,5l6
552
208
3,270
3,001
UU
531
123
208
563
205
1,132
19I*
5
22
3
250
505
131
538
709
169
269
262
10
22
-3
ui*o
7
lUU
UlO
587
362
213
88
127
1*9
75
198
113
337
139
21*
2U
20
23
16
Total
noncash
expenditures
aent corporations^
20
23
Total
expenditures
Noncash expenditures
InvestBients In
Ue S. securities
10
9
2«5
9
27"*
9
7
:s
5
215
Actual figures are based on the Dally Treasury Statement; estimates
for the fiscal year 191*8 are from the Review of the I9U8 Budget released August 20, 19>*7.
Less than $500,000.
391*
638
151
855
1,360
768
251
225
11*7
218
5
5
7
612
6?
1,103
781
-7
20
U
302
102
2U3
257
507
1*1*3
52
12
261
1*9
1/
Xxolttdee clearing account for outstanding checks and telegraphic
2/
reports from Federal Reserve Banks.
Principally net redemption [or issuance (-)J of obligations of
Q«Temment corporations in the laarket.
.
September 1947
17
Table 5.- ComparlBon of Change In U. S. Securities Outstanding
with Cash Borrowing or Repayment of Borrowing
(In alllioD* of dollars)
Less:
Chan^a In U. S. aecurltles outstanding
Fiscal year
or oQth
Public
d«bt
t?,99U
Ouaraateed
Hat InTestaeots in
D. S. securities
Total
U.
By OoTBy trust aminent
accounts corporations
S.
Obllgflk-
secu-
tloas
rltltts
+8ltl
*,835
1,1*22
-1,802
+21,659
2,006
ISl^S
*6k,Z7k
-Ufig
I9W1
+6't,307
-2,1*77
63,806
61,830
3,1*61
ll,883
li'*^
57,679
10,7'tO
-11,136
-5,086
-1,190
It)
-387
+56,1*89
19U6
19'»l
ISUS
19'»7
19Ug (Iitlaated)
I9U4-JUI7
Augus t
Septaabar.
October.
NoTeaber.
December.
.
-1,152
-11.3
-11,522
-5,058
6,738
3,'»9
7,892
1,218
5,200
3,668
3,362
159
178
1,793
3,0li«
-88
1,309
"33
313
317
22
21
-1,295
-679
-2,156
530
350
-1,«37
-1,255
-3,128
•627
1,6112
-lU
-16
-51
-1,851
-1,271
-3.159
125
672
609
-69
-82
559
1*1*8
1,560
2,367
.
1*5
.
.
.
353
39
5
•
32I*
2
7
70
6
12
21*0
88
127
51
11
271
25?
291
31*2
»35
"67
86
203
-8
-6
-5
-3
-3
32
-1
-1
-1
-3
-2
-2
1*2
1,91*1
31
32
256
«3
28
125
-175
-1
-1
-1
+1,152
562
1*1*3
53
31
-30
-1
1.161
-10
Actual figures are based on the Dally Treasury Stateaent; estiaates
for the fiscal year 191*8 are froa the Rerlew of the I9U8 Budget released August SO, I9U7.
Less than liiOO.OOO.
Issuances of U. S. securities resulting froa budget expenditures
are treated as noncash at the time of Issuance and as cash budget
expenditures at the time of redemptioa. The figures shown are net
Issuances, or net redemptions (-).
Kxpendltures for U. S. subscriptions to the capital of the international Monetary Tund and the International Bank for Reconstruction and Derelopment require special explanation. United States
payments to the INind in fiscal 191*7 for example consisted of $1,800
million paid from the Sxchaage Stabilization Pund (Table 1) and
Of this total,
$950 million paid as budget expenditures (Table 3).
ll, 721* million (net) was invested in noninterest-bearing U. S.
notes thereby making this amount noncash expenditures during the
fiscal year.
Of the $1,026 million cash portion of the expendi-
51
2l*8
9
-6
17
July
500
-I
-1
-1
6j;
781
61*1
•
60,250
56,757
-277
1*9,1*71*
66
28
72
-19,388
-6,20U
29
-3
-2
-1,796
-1,032
-2,512
36
-1,91*0
-1,91*9
-3,71*3
-6
25
36
59
66
5,1*32
+19,652
-190
-95
-5
8M«
709
-1,1*26
-1
2/
891*
-970
-39
-12
-m
.U
-88
ly
-916
19
8
7
1
-1,U23
f6U2
-57
gUAranteed
borrowing
flected in
obllgatloaa
(-)
Treasurer 's
of Federal
accounts
"J
agepciei
131
207
218
June
•
2,11(0
() or
repaTBont
of
of aon-
not re-
81
I5U
Plus:
Equal ;
Cash reCash
desptlon or
borrowing
Issuance
guaranteed
(-)
obligations
130
213
5>t6
-2,300
ee:
-108
-86
-8
-5
Net transactions In
58
-I
-1
-I
II
262
11*7
-20
-12
-7
-5
29I*
-5
Hajr
203
206
-72'*
-2,291*
April
1,338
1,925
3,00U
6,128
-2,177
19U7-Jan\ijir7
Tebruarx.
Karch
't'28
10,783
Honeash debt tranaactlona
Issuance of U. S. securities reInterest
sulting from budget expenditures 1/
on
savings
Notes for Excess
Araed Adjusted
Interprofits bonds and
forces service
TreasTiry
national
tax
leave
bills
bonds
Bank and
refund
bonds
1/
Fund 2/
bonds
+7,1*39
+10I*
-7
-31
-2
-2 sue
-3
-2
-5
-1,761
-209
-859
-2
587
-838
tures, $968 million came from the initial Sxchange Stabilization
fund payment aod the remaining $58 million represented redemption
later In the fiscal year of notes assumed to have been acquired
throu^ the Stabilization Fund payment. Accordingly, the noncash
payments to the Fund are made up of $7?!* million from the Sxchange
"Stabilisation Fund payment and $950 million from the budget payment.
In the case of the International Bank, a total of $1*76 alllion was paid during fiscal 19l*7 - all in the form of budget expenditures. On net balance, $Ul6 million occurred as a noncash
expenditure because of the Issuance of noninterest-bearing U. S.
notes.
Table ^ thus shows a total of $2,ll*0 million (net) of such
notes issued to the two institutions in the fiscal year 191*7.
Budget estiaates show that $9l6 allllon of these notes will be redeemed in the fiscal year 19l*8, thereby increasing cash expendlturee (Table 3).
Accrued discount on saTings bonds and bills less interest paid on
savings bonds and bills redeemed.
Includes borrowing througii Postal Savings System.
Table 6.- Cash Operating Income and Outgo by Months^
(In Bllliona of dollars)
Annual total
Apr.
Calendar year
May
July
Aug.
Sept.
Calendar
year
Fiscal
year 2/
Cash operating income
9,371
15,291
191*1.
191*2.
191*3.
25,21*5
I9W*.
1*7,981*
191*5.
51,01*1
I9U6.
191*7-
3,889
5,127
5,9'»6
2,819
3,316
5,295
2,698
2,565
2,997
1*,682
2,79^
2,869
1*
207
'•7,793
1*6,61*3
Cash operating outgo
ii*,o6o
191*1
191*2
3'',585
19'*}
78,079
9U,079
95,986
6^,6p2
39,985
191*1*
191*5
I9U6
2,783
191*7
3,667
3,322
3,65"*
3,351
5,193
3,111
3.392
2,95"*
3,0Ul
2,955
2,325
3,629
Bet cash operating income
() or outgo (-)
191*1
-U,689
191*2
-19,291*
191*3
-53,735
191*1*
-1*6,095
191*5
-Ul*,9ll5
-••13
191*6
191*7
1/
2/
1,106
+1.1*60
f2,62l*
Data not filled in are In process of preparation
Fiscal year ending June 30 of year indicated.
-835
-827
1*3
+1.61*1
-161
51*1*
+578
-17,899
+6.6S8
i«
GENERAL FUND POSITION
AND DEBT OUTSTANDING
Treasury Bulletin
September
194'/
19
General Fund of the Treasury
(In
Snd of fl»cal
year or aonth
Ullona
of dollsri)
Treasury Bulletin
20
Means of Financing Cash Requirements
(Id Billions of dollars)
Meaae of financing
Amount r«qulrsd to ^o financed
Tlscal jear
or aonth
Total
aaount
required
to be
financed
let
budget
surplus (*)
or
deficit (-)
let
decrease
In piibllo
debt
Ket Increase
In General
Tond balance
19'tl
1.177
U.UgU
3.910
6,900
-1.177
-3,862
-3.910
-6.158
\3^2
23.'»6l
-21.>*91
6U.27U
6U.V)T
58,U70
Zl.SOO
10.930
-57,>t20
62«
1.95*
706
1. 210
«)t6U
2,U22
2*
2,102
2,29't
Iprll
Hay
June
2,867
987
-l.UlJS
l.'»23
758
-987
-67
57
July
l.UOl
-1,272
19W
19V
19*
WS
19>i6
19'»7
Tebruary.
March
S9urc«:
1/
2/
txiree
Id trust
accounts,
Total
emount
financed
Increaee la
public debt
Net decrease
In Oensral
fund balance
-53.9U1
-20,676
7511
1.177
71*0
338
3.910
3.275
2.528
9U7
622
-51.'t2't
7U2
358
1.613
6.515
10,662
52U
5U8
58.470
21.200
10,930
11.136
23.461
338
6U.27U
6lt.27U
2.222
6''.307
6U.307
57.679
Dally Trcatury StattaeDt.
Ixcludsi asountt for public debt retlraaant vhleb are cli&rgeabla to
the linking fund, etc., under epeolal proTielone of law, and Includes
GoTenuDent eorporatlone (vholljr ovned), etc.. (net).
CoBprleea trutt accounta, lalei and redeaiptlone of obligation* of
10.7>'0
33
2.867
987
758
6U2
63^
129
l.ltOl
l,l6l
98
906
791
10.U60
10.930
628
I.6U2
628
1,958
22U
125
accounts
1.210
5,99't
23
'1,529
Hot
receipts
In trust
etc. 2/
etc. 2/
1/
193»
1939
Ret
expendl-
317
22U
269
99
738
239
OoTemaent corporatione, etc.. In the market, Increment on gold,
•elgnlorage on ellTer, miscellaneoue funds and accounts, and beginning vlth Julj 19^. * clearing account for outstanding eheeka.
Increment on gold excludes expenditures for national bank note
retirements.
September 1947
21
Statutory Limitation on the Public Debt
aggregate $275 billion outstanding at any
Obligations Issued on a discount basis, and
subject to redemption prior to maturity at the option
of the owner,
are Included In the statutory debt limitation at current redemption values.
ceed
Section 21 of the Seoond Liberty Bond Act, aa
amended, provides that the face amount of obligations
Issued under authority of that Act, and the face amount
of obligations guaranteed as to principal and Interest
United States (except guaranteed obligations
shall not exthe Secretary of the Treasury)
by the
held by
In
the
one time.
,
Table 1.- Condition ae of July 31, 1947
(In million* of dollsrt)
lUudmua uiount of eeourltlAs which may be outatantllQ^ at any one time, under lloltatlons imposed by Section 21
of the Second Liberty Bond Act, ob amended
Amount of flecurltles outetandlag subject to such etatutory debt limitation
U,
S.
275,000
^:
258,568
OoTeroment securitiea Issued under the Second Liberty Sond Act, aa amended
Ouaranteed securities
^
80
2Jg,SUg
Total amount of securities outstanding subject to ttatutoiT debt limitation
lS.352
Balance Issuable under such authority...
Sourcei
^
Public Debt Senrlce.
for comparison with the total public debt and goarenteed securities
^
outstandioi;, aee follovlnc table 2.
Xieludaa guaranteed securities held by the Treasury.
Table 2.- Analysis of U.S. Governaent Securities Outstanding Subject to Statutory Debt Limitation
and Comparison with the Public Debt Outstanding, July 31, 1947
(In millions of dollars)
Public debt and guaranteed obligations outstanding
Subject to
statutory debt
limitation
Public debt and guaranteed obligations outstanding:
Public debt;
Interest-bearing securities:
Marketable issues:
Treasury bills
Certificates of indebtedness
Treasury notes
Treasury bonds - bank restricted ^.
Treasury bonds - bank eligible
Postal saTlngs and other bonds
Total marketable is-ues
Hon-narketable issues:
U. S. savings bonds (current redemption value).
Treasury savings notes
DspoBltary bonds
Araed forces leave bonds
Total non-marketable Issues
Special laoues to Oovemment agencies and trust funds.
Total interest-bearing securities
Total obligations bearing no Interest.
Total public debt.
Ouaranteed securities ^t
Interest-bearing secorltles.
Matured debt
15.756
25.122
8,lll2
e,l>«2
6}6
69.686
165
U9.636
69.686
165
165
168.509
1*9,
l6g,3itU
51.552
5,592
51,552
5.592
32?
l.«2U
1,82*
59,296
28,516
256,156
165
6
68
18
1,69^
U16
191
''I
2,196
709
258,568
7U
6
Total guaranteed securities
Total public debt and guaranteed securities outstanding.
Total
limitation
15,756
25,122
Matured securities on which Interest has ceased
Obligations bearing no Interest:
United States savings stamps
Xxoess profits tax refund bonds
Special notes of the United States:
international Monetary ^ind Series
International Bank for Hoconatructlon and Ikvelopment series
Ihlted States notes (less gold reserve)
Beposits for retirejient of national bank and Tedieral Seserve Bank notee.
Other obllgatlone bearing no interest
Hot covered by
statutory debt
258, SUg
880
22
Treasury Bulletin
Public Debt and Guaranteed Obligations^^ of the United States GovemBient Outstanding
Table 1.- Sunmary
.
September 1947
23
Public Debt and Guaranteed Obligations of the United States Governinent Outstandlng-(Contlnued)
Table 3.- Interest -Bearing Guaranteed Obligations (All Public Issues)^
(la mlllloDB of dollart)
T"
Coafflodl tf
Ind of flical
year or aoiith
Crodlt
Fam
Corporft-
Mortcase
Corporation
tlen
t,«53
1938
1939
i.^O
5, "ISO
5,lt9«
19111
6,360
6,360
191*2
11,5119
11,5119
igii?
U,092
19110
19'A
'•^
19''5
3,908
1,190
federal
l.UlO
1,379
1,269
1,269
930
206
206
I107
696
701
l»12
Fbderal
Putllo
Rousing
Federal
Bousing
Adalnlatratlon
Jblthorlty
Hoae
Ownore'
Loan
Corporation
I
3
8
930
1,563
1,219
1,533
896
68
150
755
I167
^.
19117
83
38
38
l«5
262
lt6
I16
217
135
130
217
135
130
126
U6
181
175
i^rll
June
171
171
«3
July
7t
•Uy
y
299
820
1,096
I9li€
19U7-January.
February.
March
Reconetmction Finance
Corporation
2,1109
u
Ul2
Commodity
Credit
Corporation 5/
tion
Finance
Corporation
2,937
2,928
2,603
all
226
llU
17
21
on-aarketable
Becoast ruc-
I16
I16
lt6
I16
1«6
116
126
125
38
3«
115
125
15
3'«
iio
1(0
115
176
Soure*:
Dallj Treaiory Stataaaat.
Footnotes appear at th« end of Table U.
Table 4.- Special Issues to United States Goyernment Agrencles and Trust Funds
(In nllllonB of dollars)
Federal
Deposit
Insurance
Corporation
End of fiscal
Tear or Bonth
1938
1939
2,676
3,770
19l<0
'•,775
19l»l
191*2
6,120
7,885
19113
10,871
191*
l'l,287
19115
18,812
22,332
27,366
19116
I9'i7
19U7-January.
February.
March
m
101
56
90
95
Federal
01d-A£e
and
SurrlTors
Insoranoe
Truat Fund
662
1,177
1,738
2,3«l
3,133
Federal
Savings
and Loan
Insurance
Corporar-
tloa
5
5
531
537
106
27
538
502
103
98
97
120
U.oHl*
^9^
'^
•1O8
7,10»i
62
1,251*
6,lilio
U,766
5,308
5,910
2Ug
6,itlio
2ll«
6,680
57
58
59
25,280
26,186
27:366
277
May
June
408
6,680
6,680
7,10U
60
62
July
28,516
SI"*
7,062
611
•
1/
2/
y
59*
»73
559
656
796
52I1
25,183
ce:
Dent
ent Life enployeed
Insurance retirement
Fund
fnnde
523
537
211,777
2l»,938
April
Go Tern-
Oovem-
l,0T6
l,*69
1,868
2,177
national
Serrlce
Life
Insurance
fund
Postal
SaTln^s
Systea
Railroad
Retlre-
1/
Account
ent
3
39
178
319
501
657
806
11,257
5,610
18
17
6,71*7
111
6,699
7.11*2
12
12
815
802
787
6,869
6,96?
6,91*
12
12
12
18
18
18
6,91?
12
12
12
22
22
18
7,087
]l
92
199
268
2,1*60
5,2liO
6,U7ll
782
1,628
1,236
1,236
1,236
2,375
2.376
2,369
5,725
5,765
5,789
l,Oll*
l,OllO
1,236
1,231
2,377
5,813
6,278
1,066
1,2511
2,U60
6,11711
1,628
817
801
8O6
1,251*
2,l|60
6,520
2.226
1,300
Dally Treasury Statement.
Loss than $500,000.
Xzcludes guaranteed securities held by the Treasury and eecurities
guaranteed as to interest only.
Includes United States sariags stasq>s, excess profits tax refund
bonds, and currency Items.
For current-month details, see Table 2
under Statutory Limitation on the Public Debt.
fianlc restricted issues are those which commercial banks (banks accepting demand deposits) are not permitted to acquire prior to a
(1) concurrently with the
specified date, vltfa three exceptions:
Uth, 5th and 6tb War Loans and the Victory Loan, commercial banks
vere permitted to subscribe for limited investment of their saT-
1/
990
1,2911
Mutual
Mortgage
Insurance
and War
Rousing
Insurance
Funds
26
20
67
352
1,213
3,187
I16I1
Adjusted
SorTlce
Certificate
Fond
872
1,267
1,710
2,273
3,11*
66
128
97
88
56
Uneapl oyment
Trust
Fund
7,0911
7,1112
11
19
18
18
In^a deposits; (2) commercial banks may temporarily acquire such
Issues thro\i£h forfeiture of collateral; (3) commercial banks aay
(See
hold a limited amount of such Issues for trading pxurposes.
•Treasury Bulletin" July I9U6, A-9, A-10.)
Consists of adjusted service bonds and depositary bonds.
Conalsts of demand obligations stated as of the close of the
previous month, in accordance with the Daily Treasury Statement,
Consists of Reconstruction Finance Corporation notes, Series X-A,
X-B, and X-C, which were held by United States Oovernaent corporations and credit agencies.
Includes Canal Zone Postal Sarlzi^ Sjstem.
Treasury Bulletin
2*
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed
Obligations of the United States Goveminent
Public debt
Snd of fiscal
yesr or month
Eind
Interest-bearing
debt outstanding
gaerhnteed obligations
Computed
annual
interest
charge
(In millions of dollars)
Ul,l*38
1938
1939
'*5,336
191*0
1*7
,
871*
I9I+I
19^*2
76,517
I9I+3
139, U72
IcUU
151*7
201,059
256,766
268,578
255,197
loUy-Jrvnuary
258,61*0
191*5
19U6
2-579
2.51U
2.U38
2.260
1*2,376
1*8,387
1,037
1,095
1,218
71,968
1,61*1*
2,759
3,«69
U,969
5,357
5,376
1.978
1-925
1.935
1.995
2.107
135,380
2,679
199,5't3
3,81*9
256.357
268,111
255.113
U,96U
5,351
327
336
319
2.059
2.066
2.078
258,378
258,113
255,800
25U,598
iW
318
3UU
....
255,197
5i376
2.089
2.094
2.107
256,395
5,it2U
2.115
<7\uie
July ...
Source:
1/
255,
(Percent)
Interest-becring
debt outstanding
Computed
annual
Interest
charge
(In millions of dollars)
lt.S53
2.589
2.600
2.583
2.518
2.285
5,1*50
5,1*98
6,360
i*,5i*9
1*,092
5,37"*
1-979
1.929
1.936
1.996
2.107
322
332
316
2.060
2.066
2.078
251*, 1*27
315
975
255,113
3i»i
256,321
251*,
Dally Treasury Statement.
Treasury bills are included in interest-bearing debt figures at face
amount, but for purposes of calculating the computed annual Interest
charge and the computed rate of Interest, the discount value is -used.
For the purposes of computing the annual Interest charge and rate of
Ouarwiteed oblige tlons 2/
Computed
azuiual rate
of Interest
9U7
36,576
39,886
2.53't
April...
May
,
(In millions of dollars)
(Percent)
258 29U
255,976
Interest -bearing
debt outstanding
Computed
annual
Interest
charge
l,06g
l,lU9
1,203
1,335
1,729
February
March.
.
Public debt 1/
Computed
annual rate
of interest
1,516
U09
Computed
annual rate
of interest
(Percent)
121
112
109
117
85
2.1*98
81
20
1.968
1-335
1-321
5
2.052
1.978
1.831*
1.861
7
1
1.1*10
262
181
175
1*
1.6U2
1.758
1.753
171
171
83
3
3
371*
2.089
2.095
2.107
1*22
2.116
71*
1*67
83
3
3
1
1-758
1.71s
1.706
1.758
1.767
Interest on United States savings bonds. Series A-S are considered
to yield 2.9C^ per annum and Series F is considered to yield 2.53/^.
Ouaranteed securities held by the Treasury, and securities guaranteed as to interest only, are noti Included in this table.
2/
Obligations of Goveriuient Corporations Held by the Treasury.^
(In millions of dollars)
Snd of fiscal
year or month
Total
1938
1939
lOU
302
U,079
191*0
19U1
19U2
19K5
Commodity
Credit
Corporation
Federal
Farm
Mortgage
Corporation
Federal
Public
Housl ng
Authority
263
36b
108
13
21
Eeconstructlon
Finance
Corporation
Tennessee
Valley
Authority
ExportImport
Bank of
Washington
15
86U
20
2U3
551
2,53'»
283
398
383
360
3U7
212
580
1,010
737
529
9,020
9,205
9,966
56
516
360
360
350
607
590
57U
8,887
8,839
8,902
56
56
56
179
272
350
559
10
25
lUO
1*00
Home Owners'
Loan
Corporatl on
7
52
20
57
57
191*6
7.535
10,717
12,169
11,673
191*7
11,91*6
1,950
900
1,591
1,301
510
191+7-January.
10,828
10,891
10,985
820
866
830
865
510
21
1^1
529
8.769
8,807
9,966
56
56
56
31*6
May
June ....
10,91*6
10,1*73
11,91*6
July
11,91*8
537
19
3K7
51U
9.958
56
516
19*
191*5
February
March .
.
April...
ce:
•
\/
5I16
28l»
Daily Trca^iujy StateTent
Less than $500,000.
The obligations sho-,m in this table were issued to the Treasury to
finance Oovermient corporation actlTltles, with the Treasury itself
5,033
8,1*16
57
57
57
57
97
1*29
5l6
raising the necessary funds throu^ public debt operations. To
avoid duplication, these securities are not Included in the guaranteed debt outstanding as shown in preceding tables.
.
S
..
September 1947
25
Analysis of Issuance and Retirement of Public Debt
(In BilllloDB of dollars)
Tlftcal 7«ar
or
fflonth
Public debt receipt!
(Xiraaace of public debt)
Public iseuea
Public
Not
chance
outttandlnf
•nd of
fiscal
year or
aonth
public
dabt
during
f ileal
yaar or
ia
Oaah
Total
y
ontb
Certifi
catee of
indebtadnett,
ipeelal
•erlee
Public debt flzpenditurei
(Betlrament of public debt)
Biblic Issuee
Special notea
Interna-
Anted
tional Bank
Jutted forcea
for Beeon•erriee leare
stnietion
bonde
bonds
and Sarelepaent
C»rtlflcfttet of
Kxcses
Intem»- profits
tional
tax
Monetary refund
fund
bonds
aeries
Speolalj
Ixchances issues
Total
Caab
y
Spaotsl
•davtt,
•p«ol«l
•rl«i
series
1938
1939
l94o
19'n
li^z
7'W
3,275
2,528
37,165
W.Ww
U2,96g
Ug.jSl
23
19^3
19W»
19t5
19U6
W"*!
136,696
201,003
258,682
6U.27U
6U.307
57.679
269. U22
10. 7'W)
258.2*6
-11.136
9.621
i3,ogU
13,166
U.776
7.U75
2.67'»
17.8'*7
3.1'»2
l*,2'tl
30.388
303
596
5.876
122,632 9'*. 961
153.785 123.958
179.159 129.663
150.988 103,116
127.761 71, '•12
17.911
491
U
l.'*U2
13"
18,790
89I1
3'*,
Uglt
88
11.U86
12,536
8,936
1.8U7
566
1,782
7.817
6,201
6.196
278
269
303
159
1,782
»•%>..
259.776
261, Ulg
Mar..
259,1*
-2.29lt
Apr..
Ma/..
257,701
-1,'»23
258,3'»3
6U2
-57
7,373
7,819
2U.0U6
5,627
3,102
3,222
267
91
258.286
259,ltlt«
n,i6i
lO.gVt
2,291
ca:
•
1/
2.159
2.567
3.151
37.16U
628
l,6U2
July.
3,035
2,812
7,19'«
10,1*62
.2
183
31,036
31,758
58,358 33.67U
10, 'til
89, ''78 63,202
ll»,'tlO 121, '»80 77, "K*
16,263 I't0,2't8 95,985
20.398 138,897 91,776
2.1'*8
1.321
3.533
257
10,859
178
295
10,89lt
35
•1.705
157
93U
ie,08U
36
7,238
1,279
Daily Treaaury Statamant.
Laaa tban $500,000.
Xxcludaa cartlflcataa of lodabtadnaaa. apaclal aerlas.
5,166
5,301
5,680
5,816
8,693
8,318
3,13U
3,9»7
159
8.881
9,809
10.638
11.853
13,703
2.67"*
1,0'H
3.035
2.812
1,'»73
3.1'»2
2.1U6
2.896
303
596
"•.111
17.911
5.332
1191
I.IA2
18,790
U
3>i.l83
6,99''
31,036
31,758
12",7>W
3,13't
65
18
50
15,36U
11.231
7,659
6.930
9,038
8.795
7.177
103
1,321
3,533
60
3.616
U.U9U
'*,705
l'',903
9,683
2,316
7,238
129
21*.
3,9''7
2,llt2
7.l>llt
28
Cocelsta of apaclal earlea of cartlfleatee of Icdabtadoaaa laauad
directly and aolaly to faderal Baaerra Banlca.
Composition of the Interest-Bearing Public Debt
Xntaraat-baarln^ public dabt outatandlu^
(In Bllliona of dollara)
Parcant of intaraat-liaarlnc public dabt
Public laeuaa
Snd of fiscal
yaar or month
Bonds
Total
Marketalila
1938
1939
36.576
39.886
22,01*3
25,Ullt
Honmarkatall la
1.556
2,151
3,166
Markatakla
HOBm&rkatabla
Public laauas
Cartlflcataa
of
Indabtadaaea
Special
iaauaa
9,ll*7
1,15'»
3,015
3,096
1,308
1,302
1,603
2,508
16,561
28,822
31*, 136
11,861*
10,871
1U.73U
ll*.2g7
17,0'*1
3'*.80l*
17,039
15,775
Total
HonMarkatcarkatabla
abla
100.0
100.0
100.0
100.0
100.0
60.3
63.7
63.1
62.8
53.2
U2.6
18.812
22.332
27,366
100.0
100.0
100.0
100.0
100.0
2,676
3,770
19''1
''2,376
't«,387
30,'*11
191*2
71.968
38,281
1*.555
10,1*96
7.2U3
6,383
5,698
6,689
19'*3
135.380
57,716
21,701*
9,168
7,1*95
19'*'*
199,5'*3
79,1*1*0
35,298
19''5
256,357
268.111
255.113
106, 6UU
1*6,090
119,502
1*9,1*62
17,'*05
23,'*97
18. 261
119. 1*89
53,1*85
8,lU2
9,557
10,136
6,711
5,560
258,378
258.113
255.800
119.1*89
119.1*89
119.1*89
51,567
52,195
52,713
10,090
10,090
5,590
5,570
29,791
28,78'*
17.071*
17,01*8
5.^3
27.792
17.038
2U,777
21*, 938
25,183
100.0
100.0
100.0
t6.3
3.ll*2
April...
May
251*. 1*27
26,29'*
26.291*
53.1*85
8.11*2
8.11*2
8,ll*2
5.1*77
255,113
119.1*89
119.1*89
119.1*89
53,135
53,338
Juna.
25,296
16.610
16,002
15.775
25,280
26.186
27,366
256,321
119,1*88
53,701*
g,l>*2
5,592
25,122
15,756
28.516
191*0
19'*6
19't7
1<5''7-January.
fabruary,
Maroh.
.
.
.
July ....
Sourca:
25'*.975
26.751
Sally Traaaury Statamant.
5.525
5,560
25,296
l'.775
6,120
7,885
39.8
1*1,5
".3
5.1*
7.5
.Vs
16.0
17.7
18.0
Narkat. NoBmarkatabla
abla
25.0
18.2
15.1
11.8
9.3
Cartlflcataa
of
Icdobtadnaaa
Special
iaauaa
3.2
3.3
3.1
3.3
U.2
6.8
8.7
7.3
9.5
11.3
12.5
ll.O
l*.3
3.5
12.2
lU.U
8.8
7.U
6.6
8.0
7.2
6.1*
6.2
8.3
10.7
1*1*.
18.'*
1*6.3
21.0
9.2
6.8
3.2
it.o
2.5
2.2
13.3
13.0
9.9
1*6.3
1*6.7
19.9
20.2
20.6
3.9
3,9
3.2
2.2
2.2
2.1
11.5
11.1
10.9
6.6
6.6
6.7
9.6
9.7
9.S
100.0
100.0
100.0
1*7.0
'*6.8
1*6.!
20.9
20.9
21.0
3.2
3.2
3.2
2.2
2.2
2.2
10.3
10.3
9.9
6.5
6.3
6.2
9.9
10.3
10.7
100.0
1*6.6
21.0
3.2
9.8
6.1
11.1
7.3
Treasury Bulletin
26
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United Statesi/
As of July 31,
1947
(la lllloaa of dollari)
Aaount of Baturltles
Year
and
nonth
D«icrlptlon of iscurlty 2J
Data
bank reCallable Isiues Btrlctad
Isiuaa
rixad elatiifled bj
becoae
atu- year of:
bank
rlty
final
liauoi ririt
ata- eligible
eaU
ri ty
Aaoont of aaturltlea
Tear
and
Deaerlptlon of aaonrlty 2/
onth
y
Date
bank reCallable lisuei •trlcted
isiuei
nied claailfiad by
year of:
becoae
aatubank
rlty
naal
lasuai Mret
atu- eligible
oall
rlly
1951
Aug..,
7/*
Bllla
Certificate - g/l/U?.
Mar...
"1,829
2-3/m Bond
- 3/15/'t«-51.-
1,223
1,223
Bond - 6/15/lt9-51..
2-3/lt* Bond - 6/I5/5I-5M..
June.. 2*
Sept.,
Bill.
7/* Certificate - 9/l/'»7.
1-1/2* Sote - 9/15/''7
l-l/"* Sote - 9/15/t7
5,020
2,3Ul
2,707
1,687
5,908
7/*
Bllla
Bond - 10/15/1*7-52
Certificate - I0/I/U7.
Dot...
.
7/m
Certificate - ll/l/'«7.
1,775
..
7/8)1
Certificate - 12/l/l»7.
Bond - 12/15/'t7
3,281
701
Total.
I9U8
Certificate - l/l/US.
reb..
7/8*
Certificate
7/1*
2*
Certificate - 3/l/'t8.
Bond - 3/I5/US-5O
Mar..
-
2/1/U8.
3,9't7
2,lU2
U/l/US.
1,321
June.
Certificate - 6/1/U8.
l-3/>l* Bond - 6/15/'t8
1,777
3,062
July.
7/8*
Certificate - 7/l/')8.
2,7'l2
Sept.
2-1/2* Bond - g/lS/lW1-1/2* Mote - 9/l5/'*8.
7/8*
Certificate
-
7/8*
9/I5/U9-51..
9/15/51-51..
9/IS/5I-55..
1,292
7.986
755
2,098
1,118
510
11,99s
Bond - 3/15/50-52..
2*
2-1/2* Bond - 3/15/52-5'»..
1,021*
Bond - 6/15/52-5U..
2-l/lt* Bond - 6/15/52-55.-
5,825
1,501
June.
2*
Sept.
2-1/2* Bond - 9/15/50-52..
Bond - 9/15/50-52..
2*
Dec.
1,115
1,223
2-3/<l* Bond - 3/15/Ug-5i
-
5,628
1952
Har..
7/S*
-
Total.
31,670
Jan.
-
Bond - 12/15/U9-51.
2-1/11* Bond - 12/15/51-53.
Bond - 12/15/51-55.
2*
l.UltO
Dec.
Bond
Bond
Bond
2*
759
Hot.
2»
Sept.. 2*
2*
3*
1,01U
1,627
3-1/8* Bond - 12/15/U9-52.
Bond - 12/15/52-51*.
2*
Total.
1,963
1,186
'',939
>I91
8,662
17,012
8,579
1953
Bond
-
3,7W
12/15/U8-50
Bond - 6/15/53-55.
Sept..
Bond
-
725
9/15/51-53.
7,986
Dec... 2-1/2* Bond - 12/15/1*9-53.
2-I/I1* Bond - 12/15/51-53.
571
22,323
June..
1,786
1,118
2,910
725
10,890
I9I19
-
June.. 2*
Bond
6/I5/U9-51
l.Ol"!
Sept.. 2*
Bond - 9/15/'»9-51
1,292
Dec... 2*
Bond - 12/15/U9-51
3-l/a* Bond - 12/15/119-52
2-1/2* Bond - 12/15/'t9-53
Mar..
2-1/2* Bond
Juno.
2-3/1** Bond - 6/15/51-51*..
I19I
-
6/15/52-5U..
6/I5/5M6..
1,786
2*
Bond
8,662
681
1950
Sept .
1,627
5,825
681
Bond - 12/15/52-51*.
6.682
Mar...
l,02i*
3/15/52-51*.
2-I/I1* Bond -
2*
2,098
-
17.138
1955
Bond
Bond
3/15/Ug-50.
- 3/15/50-52.
1,115
-
2-1/2* Bond - 9/15/50-52..
Bond - 9/15/50-52..
2*
Dec... 2*
Bond - 12/15/U8-50.
1-1/2* Bond - 12/15/50
Mar... 2-7/8* Bond - 3/I5/55-6O..
2, 611
1,963
June.. 2-1/1** Bond - 6/15/52-55..
Bond - 6/15/55-55..
2*
1,186
1,501
725
>t,939
Sept..
3*
Bond
- 9/15/51-55-
Dec.
2*
Bond
-
755
571
«,635
2,63;
8,088
1,687
Total.
(Contlnuad on following page]
510
12/15/51-55.
2.611
3,''91
i/
.
September 1947
27
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States i/
As of July 31, 1047 - (Continued)
(In alllloni of dollari)
ABotmt of aaturltleo
Ttar
•ad
D««crlptloD of leeurltx 2/
OBth
Dato
bank reCallablo losuat •trletod
elaiilflod )>7
Isiuai
rized
boooao
atu- jaar of:
bank
rltj
rinal
•ll(lbla
Itiuai Tlrtt
aattxeall
rlty
aaturltleo
Data
bank reCallablo loonet atrlctod
laouai
ri»d claialfled by
jaar of:
bOCOB*
attibank
rltj
rinal
tllglblo
laaua* Mrit
atu*
eall
AjBotmt of
I«ar
and
ontl)
Doocrlptlon of oacurlty 2j
iJ
196U
1956
Mar..
Z-l/a^ Bond - 3/15/56-5*.-
1,1*9
681
2-1/1* Bond - 6/I5/5U-56..
3apt.
2-3 /hf Bond
2-1/14 Bond
681
Bond - 3/15/56-5«.
2-1/2)1
•/15/53
3,«3«
9/15/53
Total
7,600
Mar..
2-1/2* Bond - 3/15/65-70..
5,197
Dae.
2-3/1* Bond - 12/15/60-65.
1965
195«
2-3/1* Bond - 6/15/58-63.
3.761
2-1/2* Bond - 12/15/611-69.
3,K3
6,253
Jvaa.
2-1/2* Bond - 6/15/611-69..
Dae,
982
9/15/56-59.
9/15/56-59-
Nar..
Juna.
2/1/5"*
1,1*85
l,l»lt9
1,U85
Total
5,197
2-1/2* Bond - 3/15/66-71.
3,1(81
12/1/51*
2-1/2* Bond
2-1/2* Bond
6/15/62-67..
6/15/67-72..
7,967
5/5/52
6/15/62
Sapt.
2-1/2* Bond
9/15/67-72..
2,716
Sac.
2-1/2* Bond
12/15/67-72.
11,689
919
919
1,1*9
1966
Mar..
1959
Jvae.
Z-l/l* Bond - 6/15/59-62..
aapt.
2-3/1* Bond - 9/15/56-59..
2-1/1* Bond - 9/15/56-59..
Dae.
5,2*
6/15/52
1967
Jvao.
982
3,e3
2-1/1* Bond - 12/15/59-62.
12/15/52
J.'tTO
«,75''
12/15/62
it.sou
22,372
i960
2,118
1968
Mar.
2-7/8* Bond - 3/15/55-60..
Sac.
2-3/1* Bond - 12/15/60-65.
2,611
l.UC
Panaaa Canal bond - 6/I/61
2,831
Jnna.
2-1/2* Bond - 6/15/611-69..
3,761
1/15/53
>c..
2-1/2* Bond - 12/15/611-69.
3,83«
9/15/53
Tstal.
7,600
2-1/2* Bond - 3/15/65-70.
5,197
2/1/5U
2-1/2* Bond - 3/15/66-71.
3,li81
12/1/5U
6/15/62
12/1/52
1969
2,611
1961
Jnaa..
2-1/2* Bond - 12/15/63-68.
Die..
1.U85
50
1970
1962
6/15/59-62..
6/15/62-67..
5,28l»
6/15/52
5/5/52
Sac... 2-1/1* Bond - 12/15/59-62.
3>70
12/15/52
Juna.
2-1/1* Bond
2-1/jjl Bond
-
Mar..
1971
Mar..
«,75'»
Total
1972
1963
June.
Oac... 2-1/2* Bond - 12/15/63-68.
Total.
Source:
1/
2/
919
2-3/1* Bond - 6/15/58-63..
12/1/52
2,«31
2,831
Jnna.
2-1/2* Bond - 6/15/67-72-
7,967
Sapt.
2-1/2* Bond - 9/15/67-72..
2,716
Dae..
2-1/2* Bond - 12/15/67-72.
11,689 12/15/62
Total
22,372
919
Daily Treaaury Stataaant, and reports to the Treaanry.
bcludea (1) poatal asTlngB bondo and (2) Tedaral Eouilng Adxlnletratlon dabeotorei (the only lnterest-baarlD£ public aarkatabla
ffUATanteed lecurltle* outstanding).
It should be noted that callable issues appear twice In this coluam,
once in the year of first call and a«ain In the year of final aatuCallable issues with respect to which a definite notice of
rlty.
i/
For
call hat been »ade, howoTar, ar« llttad as fixed aturitiei.
date of issue of each secnrlty, see chapter oa Prices and Tlelds of
OovenuBent Secarltles; for tax statas, see chapter oo Ownership of
OoTenuDeDt Securities.
Sank restricted Issues najr act be acquired by coKBerclal banlcs (with
alnor exceptioas) prior to a specified date. See footnote 3 to
tables on public debt and guaranteed obligations outstanding.
Treasury Bulletin
28
Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Data
aubacriptlan
books wara
opanad
Aaount of
aubscrlptloQS
taadered
Parlod to naturlt/
Data
of
Isaua
DaacrlptloQ of aacurltj
(Porlod to flnt call
ahovn In paranthesea) ly
Caih 2J
Szchao^
Aaouat laauad
In axchan^
for othar
aacmritl at
for
caah
Allotnant
ratio
(In Bllllont of dollara)
6th War Loan aeourltlt
ll/ZO/lU*
12/1/11
12/1/11
12/1/11
12/1/11
11/20/1*
12/1/11
11/20/Wl
12/1/11
12/1/11
12/1/11
- 3/15 ?6-71 1/
Bond
-12/15
- 9/15
1-1/1* Iota
Cartlfloata- 12/1 15
7/8)(
2-1/2)1 Bond
2^
Data
-
2-1 /2f Bond
-
90*
Bond
21(
1-1/1|( Iota
1/1 16
26 yr,3
10 jrr
2 7r,9 .
1 yr
1
3/15 66-71 5/!t
-12/15 52-51 5/
- 9/15 17
5/
(21 7t,3 •)
8 yr)
(
3,118
7,922
1,550
1,395
yr,l
26 yT,3
10 yr
2 yr,9
6/ (21 yr 3
6/ ( 8 yr)
5/
7,922 II
1.550 J/
1.395 J/
3,116
3,116
7I0
137
710
137
)
1/22/1(9
2/1/15
7/at(
Cartlflcata
-
2/1, 16
1
jr
5,013
5,013
2/I9/M5
3/1/15
7/8^
Cartlflcata
-
3/1 16
1 yr
1,117
1,117
3/22/U5
1/1/15
7/8)1
Cartlflcata
-
1/1 16
1 jr
1,811
1,811
5/1/15
7/8)(
Cartlflcata
-
5/1 16
1
yr
1,579
1.579
7th War Loan aeourltlB
6/1/15
6/1/15
6/1/15
6/1/15
2-l/2> Bond
-
2-1/1)1 Bond
1-1/2)1 Bond
-
7/8)1
6/15
6/15
-12/15
Cartlflcata- 6/1
-72 1/
5/
1-62
27 yr
17 yr
(22 yr)
(1I yr)
1
yr
7,967 i/
5,281
2.635 2/
1.799 iJ
7,967
5,281
2.635
1,799
5 yT,6
V
5/2l/*5
6/1/15
.90)1
lota
7/1 16
1
yr,l
1,910
1,910
7/23/'*5
8/1/15
7/8|(
Cartlflcata
8/1 16
1
yr
2,170
2,170
i/20/145
9/1/15
7/8)(
Cartlflcata
9/1 16
1
yr
1.336
1.33«
11/15/15
10/29/1*5
U/I5/I5
12/3/15
9/2U/H5
10/1/I5
Il/l9/'t5
12/1/15
12/17/15
V lotory Loan eecurltle e:
2-1/2)1 Bond
-12/15
2-l/1)( Bond
-12/15
Cartlfloata- 12/1,
7/8)1
y
72 1/
62 5/
27 yr.l
17 yr,l
(22 yr,l
(11 yr,l
)
)
1 yr
rtlflcata
10/1
rtlflcata
11/1
1/1/16
7/*
7/*
7/*
rtlflcata
1/1
1
1
yr
11,689
3,170
3,768
11,689 i/
3,170
3,768 J/
V
3,110
3,110
3.778
3,778
yr
3.330
3,330
11
l/2l/lt6
2/1/16
7/8*
rtlflcata
2/1
1 yr
1,951
1.951
2/18/ll6
3/1/16
7/8*
rtlflcata
3/1
1
yr
1,106
3/20/H6
1/1/16
7/8*
rtlflcata
1/1
1
yr
1,712
3,133
2,820
5/20/U6
6/1/16
7/*
rtlflcata
6/1
1
yr
1,168
2,775
S/lU/lifi
7/1/16
7/8)1
rtlflcata
7/1
1 yr
1,673
2, 91
T/lT/lfi
8/1/16
7/8)1
rtlflcata
8/1,
1 yr
«/l9/t6
9/1/16
7/8*
rtlflcata
9/1,
1
yr
2,307
1,115
2,311
yr
1,223
9/l«/t«
10/1/16
7/»»
rtlflcata
10/1,
1
11/1/16
7/8*
rtlflcata
11/1
1 yr
3.203
3.I32
I,1l0
10/21/116
II/H/I16
12/1/16
7/8*
rtlflcata
12/1,
1 yr
3,281
3,281
12/ll/lt£
1/1/17
7/8*
rtlflcata
l/V
1 yr
3.131
3,131
1/20/1*7
2/1/17
7/8*
rtlflcata
2/1,
1
yr
1,801
2/l7/l»7
3/1/17
7/8*
rtlflcata
3/1,
1
yr
2,951
3,917
2,ll2
1,775
3/19/17
1/1/17
7/8*
rtlflcata
1/1,
1
yr
2,669
1,321
5/21/17
6/1/17
7/8*
rtlflcata
6/1,
I yr
6/23/17
7/1/17
7-/8*
irtlflcata
7/1,
1 yr
2,510
2,7l2
1,777
2,7l2
7/21/17
8/1/17
7/8*
rtlflcata
7/1,
11
1,127
1,127
g/20/l7
9/1/17
7/8*
rtlflcata
7/1,
10
2,208 f
2,208 p
9/2/17
9/15/17
Soorea:
n.a.
p
1/
2/
y
1*
10/1,
i2i
Boraan of tba Public Dabt.
lot avallabla.
Prellalnary.
In tha caaa of tha reopenlcc of a prarlously offarad aacurlty, tba
parlod to firit call and to aaturltj ara calculatad froa tba data
Intaraat ooaaancaa on tba raopanlng.
Conaleta of all public caab subacrlptlona and of oubscrlptlona by
U. S. Oavarnaant a^anclai and truat funds.
Plguras an aaount of Var Loan sacurltles Issuad consist botb of
aaounts Issuad In connactlon ¥ltb tba DrlTa, and of aaounts Issuad
concorrantly wltb Drlre to coaaerclal banks and Traasnry Inrestaccounts.
Bank rastrlctad Issua.
Baa pracadlng tabla (aatnrlty schedula of
Intarast-bearlnc public aarkatabla aacurltlaa) for aarllast data
on wbleb coaaarclal banks aay ac(tulra this lasua.
Tbls Is tha saae sacurlty that was offarad In tba Sixth Var Loan.
Xxeban^d as of Dacasbar 15, I9II and accruad Intarest cbargad
froa Sacaabar 1 to Dacanbar 15*
act
U/
5/
6/
September 1947
29
Disposition of Matured Marketable Issues of Treasury Bonds, Notes, and Certificates
of Indebtedness and Securities Guaranteed by the United States
Datf of
refunding
30
Treasury Bulletin
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(inountB In-allllona of dollar*)
Dat* of
Itaue
September 1947
51
Sales and Redemptions of United States Savings Bonds
United States earlngs bonds were first offered for
sale
In
Harofa
Bonds
1935.
between Maroh I935
series A-C were sold
of
and April 1941.
bonds have been on sale slnoe Nay
Series A-E bonds
Series
10-year dlsoount
are
E,
F,
and
"Treasury Bulletin'
bonds sold
maturity Talue, and yield 2.30% per annum If
held to aaturlty.
Sarlsa T bondi are 12-year dlsoount
at 1^%
of
bonds
sold
at
^^
of maturity value,
per smnum If held to maturity.
year ourrvnt Income bonds,
par, bearing Inter-
est at 2-1/2% per annuo, and redeemable at par at maturity or at stated prioee less than par before maturity.
PurohasSB
series
of
17,500 Issue prioe in
bonds vers available
April
1,
1940,
A-D
any
to
bonds
all
were
limited to
calendar year.
one
subscribers
These
prior
to
9,
•Treasury Bulletin' for October I945, pages A-4 andA-5.
and yield 2.3'}%
Series d bonds are 12-
sold at
for December 1944, page 36, footand "Treasury Bulletin" for February 1946, page
For details concerning
37, footnote 9, and page A-22.
features, investment yields, and redemption values see
note
1941.
1,
certain periods and with certain restrictions. For
details oonoernlng these periods and restrictions see
Series A bonds matured in I945, and series B bonds
in
Series C bonds began to mature in January
Matured bonds turned in for redemption are included in the figures on redemptions.
Matured bonds
outstanding are reflected in the interest-beeiring debt
until all bonds of the series have matured, when they
19*^.
19*^7.
are transferred to matured debt upon which interest has
ceased, in aooordance with the praotice of the Daily
Treasury Statement.
and to individuals only after that date.
Purchases of series E bonds are limited to t3,750 issue
prioe in any one calendar year, and may be made only by
at issue price, and redemptions and amounts outstanding
individuals
at current redemption values.
limit
prioe
in
(defined
series T
for
any
year 1941).
one
natural
as
and
persons
d combined
calendar year
Series P and
bonds
only).
The
$100,000 issue
CI5O1OOO In calendar
are available to all
subscribers except commercial banks.
however, were permitted to
is
Commercial banks,
purchase these bonds during
In
the
following tables
sales
figures are quoted
Amounts of series
After June 30, 19'*^7i data on sales and redemptions
olassified by States will be published only at the end
of each calendar year and each fiscal year.
Table 1.- Suimnary of Sales and Redemptions, by Series, as of July 31, 1947
United St»te«
arln^i bondt
out-
standing are quoted at par.
Treasury Bulletin
32
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 2.- History of Sales and Redemptions
Bodooptiont 2/
uif
y
Accrutd
discount
tolei
ploa
acenwd
discount
•adoo
prlco
(In lllloni of dollars)
Fiscal yoarsi
ISJS-lS'tO
19»l
3.120
l.>492
r,
19'>3
5.99*
11.7«9
128
19IA
15.U98
19'»5
lU. «91
19116
9,612
7,208
X9ltt
ig"*?
Oalondar tootsi
1935-19tO
19U1
19'«
19U3
3,1A9
3.036
9.157
13.729
19UU
16.
IS"*?
12,937
\9^
7,'<27
Months
19U7-Jnnuni7
88
OM
I
952
Vobrunrjr
March
616
i»rll
572
*V
ltS8
Juno
1)82
Juljr
Total, IncoptloB to Jttlr Jl, I9U7.
559
70,162
2,330
Anount ontitandlnf
Accrued
discount
Nnturad
da lit
XatorostboarlDC
dabt
Porcoot of
onthl/
Todanptlons
to iBOunt
outstondlB(
September 1947
33
Sales and RedeaptlonB of United States Savings Bonds
Table 2.- History of Sales and Redenptlons
-
-
(Continued)
(Continued!
&«dBaptloni 2/
UX*t
1/
4ccmad
dlacooBt
Sklei
plua
accrued
discount
Salaa
prlc«
(I9 Kllltons of dollan)
Sarlot S, r,
Tlscal TOara;
I9UI
19U2
66U
5.993
11. 7*9
19"t3
19IA
15,1(9«
19''5
19I46
lU,g9l
9,612
7,208
l9'»7
661*
2
56
127
2gl*
1167
583
Calaadar joaroi
19't3
2.537
9.157
13.72?
19UU
l6.0Uit
191*5
I9l<6
12,937
191*1
19112
7.lt27
12
7'*
195
379
533
Moathi:
952
19l»T-J«iniarjr
Fabraary
Ifanh
"•3
1*8
i»rll
1*1*
"V
1(6
1*82
Jaa*
Jul7
Total, IneapttoB to Jnljr Jl,
5«
712
b6
19'*T-
67
559
63
66,213
1,561
aad
Aecruad
dlicount
Aaount
out* tan dine
(iDt«r«atboarlag
dat>t)
Porcoat of
aoQthlj
radaaptloao
to aaouat
outotaadlns
Treasury Bulletin
-i^
Sales and Redemptions of United States Savings Bonds
Table 2.- History of Sales and Redemptions
-
-
(Continued)
(Continued)
Badonptlons 2/
8sl»
1/
Aocru»d
discount
8&les
plus
aecmad
lecnwd
ladas
prleo
discount
discount
Anount
outstandlDC
(Interostbearinj
dabt)
Psrcont of
oathl/
rodsmptloas
to saount
outstsndlnc
(In alUtoni of dsllsn)
Sorlos r
Tlsoal 7««rsi
191*1
67
ijte
1*35
igiS
ISUS
!!.!!.!.!.
75«
ao2
679
19116
1107
1917 r
360
67
2
9
19
2?
67
i«9
760
811
698
UUo
17
5«
89
3
17
57
88
X
1I19
1"»7
3
1107
203
1.J5
3
1,2112
n.a.
1.996
2,60U
2.895
3,099
Cnlondar /•rsi
19112
208
652
19113
7I15
19111
I9I1I1
773
19I15
595
325
191*6
Nonthsi
19ll7-Jumnr7
ItO
208
65U
750
786
621
35
iprtl
33
Msgr
Juna r
July
^^1*
fiscal yaarsi
I9UI
191*2
191*3
191*1*
191*5
U
U
6
207
7
7
35
35
77
77
365
lOU
185
11*
39
22
21
lU
21
20
36
29
30
ll*
lU
16
18
3.086
3,099
3,115
3,115
27
6
33
17
3,5J^
U7
3,<51
J3«
395
2,032
2.759
2.876
2.658
1
395
2,032
2.759
2.876
2,658
2.I165
2.1*65
2,561
2,561
191*2
1.185
2.516
1.185
2,516
19113
2,61*0
2.61*0
191*1*
2.891
2,520
2,637
2,891
2,520
2.637
March
36U
278
209
364
278
209
April
May
Juna r..,
191
158
157
191
July
193
193
1*8
15.939
15,939
1,2(6
191*6
191*7
r
Calandnr /oarai
191*1
191*5
191*6
Months I
191*7. Janual7
Tebmary
Total, inoaptlon to Jnljr 31, I9UT.
*f
1.569
2.278
2.793
2.969
106
189
53
Ui
7sbruaJ7
March
Total, Inoaptlon to ^ily 3^,
2
u
13
25
i^
3.013
.1*8
3.03lt
3.052
.72
.68
3.071*
.1*6
•
51
•
59
.55
1
.
September 194}
35
Sales and Redemptions of United States Savings Bonds
-
(Continued)
Table 3.- Sales by Series, Classified by Denominations
Salai In bIXIIou of dollars at lavxia prle*
F«ro«Btac« dlitrlbutlon of ooloo
fiaBoalDAklak
DoDoalnatloa
Total
all
dSBOBl-
10
DAtlOU
y
Uoo
»50
i;
500
1200
$1,000
»5.ooo
tio.ooo
if
Total
all
teaoBlaatloai
wo
1/
50
and
»25 a/
1100
aad
500
and
«200J/ 1,000
flioal 7«ar«i
IH
616
2.9C8
IJltl
19>i2
3.52«
S.271
11,(20
11.553
6,739
19'tJ
191*
IS"!?
IJliS
IS^Tr
lt,2«r
13
U.llt9
I.6I12
3.928
2,101
1,725
s;
li
Ul
Ul
637
1.0O7
1.397
1,326
3112
1.081
»1J
1,711*
2,58>t
2,U06
1,102
5«9
197
120
93
1,119
1,>«S1
2.01K
2,100
1.591
l.&l
61T
71
100.0
100.0
100.0
100.0
100.0
100.0
100.0
34.6
32.1
20-5
lii.9
100.0
100.0
100.0
10.0
29.5
36.0
8.1
11.9
17.5
36.1
6.5
9-7
13.1
13.9
13-5
9.5
20.lt
66.0
23.0
20.7
21.9
20.8
19-1
l6.i
I19.8
22.6
5?.3
36.2
29.6
29.2
30.1
291
29-7
35.1
53.6
Oalaadar 7«arai
IjUl
19te
llU
1,769
3.7x9
l,llt5
5.9s?
10,3UU
12.3<o
9,t22
I9't3
19l4lt
19'9
93
712
258
2! 169
229
856
115
138
1,119
1.313
1.815
2.163
2,002
56lt
1,1*02
38
17
83
257
179
68
?.
10
10
33
30
9
lltl
305
301
67
60
8
119
58
JO
9
u£
339
61
32
"9
10
51
137
6,15>»
5,293
327
5,8"«9
10,250
19«
2T
85
&,«i»i
3.2'»3
1.390
l.79f
l.kli
31
1.177
516
2,706
l.tU2
637
22.lt
(/
3u.1t
it. 5
100.0
100.0
33-9
27-1
iH.i;
21.0
21.9
19.9
11.6
i7.lt
100.0
100.0
100.0
1J.7
16.1
IB.S
71
8.1
9.1
IU.7
15.1
16.0
20.0
19.6
9.5
10.0
10.0
16.3
16.9
17.6
53-1
52.8
18.1
9.U
17-3
55-2
31.8
13.2
20.6
3ll.lt
100.
Maathii
19117-Jaa
535
396
372
rak
Har
IV
"W
tau
31*9
T..-.
July
total, Inoaptloa
to July 31, IJUT
W,739
1U9
1.56
100.0
100.0
100.0
100.0
19.1*
Sanaa f and 8
Vlacal 7«arai
6
71
I9ltl
lt6l
19112
2.I167
19*3
3.517
3.678
3.337
2.873
2,920
106
1.393
3.168
26
98
123
19*
191*5
191*6
19l*7p.r
131.
109
61
'*3
lii'
229
291
255
179
16U
96
702
1,016
1.156
1,012
901
9a
BU
l*9<
696
683
995
556
607
263
1.055
1.U66
1.U09
1.362
1.172
1.18U
100.0
100.0
100.0
100.0
100.0
100.0
100.0
676
1.331
1.187
1.UU5
1.3U2
1,208
100.0
100.0
1.2
CalaadAT /aaroi
191*1
m
191*2
191*3
191*11
iil2:::::::::::
3.U5
8lt
2.962
1*7
267
293
215
166
355
906
1,116
1.119
933
926
687
670
21
1«.0
100.0
100.0
100.0
Month!
19lt7-Jaa
1*17
I»b
Har
319
Apr. p....
22l|
11
»*7 P
Juna p.r.
183
181
10
10
July
220
Total. iBcaprtion
to Ally 31, 1947
18
19,1*71*
19
533
100
85
78
66
52
229
157
97
P
60
^'
102
1*2
68
60
Ul
68
100.0
100.0
100.0
Ik
76
52
75
100.0
1,285
5,879
3,772
7,985
100.0
\l
2lllt
57
100.
100.0
100.0
2.7
63.5
60.5
56.5
511.8
5.000
and
10,000
Treasury Bulletin
36
Sales and Redemptions of Treasury Savings Notes
Treasury savings
ries,
19l)-3,
12,
series A
notes
were
from August 1,
Issued
19'+1
three
In
through
se-
June 22,
from August 1, iglH through September
which have been on continuous
and series
since September 1^, 194-2. All of series A and B
series B
19'*2,
sale
and some of series C notes have matured.
Series
value
and B notes, see "Annual Report of the Secretary of the
Treasury" for 19U2, pages 20? and 220.
each
notes
are
sold
at par,
and
month, yielding 1.075t per annum
accrue
If
In
held to
These notes
maturity (3 years from date of Issue).
may be used In payment of taxes any time after 2 months
after Issue, or may be redeemed for cash any time after
For details concerning features,
6 months after Issue.
Investment yields, and tax payment or redemption values,
see "Treasury Bulletin" for October 19'*-5. pages A-U- and
For details concerning the features of series A
A-5.
In the following tables sales and redemptions of
Treasury savings notes are shown at par value. Matured
notes turned In for redemption
(either for cash or for
tax payment)
are Included In the figures on redemp-
tions.
Matured notes outstanding are reflected In the
Interest-bearing debt until all notes of the serlei
have matured, when they are transferred to matured debt
upon w.iloh Interest has ceased.
In accordance with the
practice of the Dally Treasury Statement.
For sales
and redemptions of series A and B notes by fiscal years
and months, see
pages kZ and ^3.
"Treasury Bulletin" for February
Table 1.- Sumnary of Sales and Redemptions, by Series, as of July 31, 1947
(IB atlllou «f
Traaanry a«Tln^ aotaa
doUwa)
19l^6,
September 1947
OWNERSHIP
37
OF
GOVERNMENT
SECURITIES
Treasury Bulletin
3«
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued
by United States Government and Guaranteed by United States
(In
lllloDB of dollar*)
Sacurltlas itsuad by Unltad Stataa OoreruMnt
Dlatrllitttion
Igr
Securltlee guaranteed ty United States 1/
claaaeB of holderi
Distribution by classes of holders
OoTemaent
a^ncles and
U. B.
V. 3.
Bnd of fiscal
year or aonth
trust fundi
Total
publ 1
and
apeclal
iBSua*
36.576
39. 886
lie. 376
193«
1939
U.I466
19U1
i9Ue
l(«.387
5.605
6,803
8.225
71.968
10. 31*0
19't3
19UI1
135.380
19140
PuWlc Public
Public
market- nonarke table
able
Itsuas laauei
Special
leeue*
^
1.791
1.835
2.028
2.IOU
2.1*52
PrlTate
InTestora
federal
Reeerra
Banke
QorarnDent
a^Dclss and
Total
anount
out• tan dine
arketable
iBBuee
2.676
3.770
2.56"
2.551
It.
775
2.I158
6.120
7.885
2.180
2.61(0
Total
public
iBBua*
29.51(5
31.730
33.115
37.982
58.988
Public
arketable
iBBuae
27.989
29.579
29.950
170
u
1(09
6
3.738
1,186
28
56.11(1
K67
83
9
3*
2
37
"5
36
36
217
135
130
36
126
125
37
1(5
32 P
1(0
256.357
igK
268.
lU
igit?
255.113
29,121
32,809
258.378
258.113
255. 800
31.157
51.302
31.561
6.3^3
6,328
2U,777
2U,938
25. 183
2U.H7
203.280
202,695
2,695
22. 593
201,
Apr..
Kay..
June.
25't.'t27
31.585
32,lU2
32.809
6.268
5.919
37
25't.975
255. 113
3'^
25.280
26. 186
27. 366
21.857
22.088
21.872
200,985
200, ^Ub
5,W7
200,1(32
11(1.919
ll(l.l«3
July.
256,321
33, 3^9
'*,797 p
36 p
28,516
21,51(9
201,1(22 p
11(2,
PrellBlaary.
Leei tbaa $500,000.
Ixcludee obllcatione held by the Treaeury and aatured eecULTltlee,
The total aaount of eeeurltlee held by prlTate Inreetore le caXc^^
^
528
5.I6U
5.212
6,085
U.262
U.
325
286
286
275
287
1,516
llU.lUi
165. 725
209,630
215.206
ZOO,U32
(1) Dally Treaauxy Stateaent for total aaounte «utetandlB«;
(2) nporte of a^eDClee and trust fund* for eeurltlee bald by
0. S. OoTerDBoot a^nclee and trust funda; and (3) federal
Reierf* Syetea for eeeurltlee beld by federal Reeerre Banke.
isBuee k/
non-
l(,092
21.792
23.783
21.872
p
arke table
Ueuae
56,209
It. 899
18.812
22.332
27.366
6.31(2
Public
able
i(U,8l(5
l't.287
r
Public
able
narke table
issues iseues
29.193
10.871
10
17
37
37
5,1(50
5.1(98
Public Public
aarket non-
8l(.9U«
7
't.623
37
l(,853
2/
120. 880
153.1(21
159. 06U
1U1,1(23
3.213
6.105
6.759
5,'«7
reb..
Mar..
1.556
2.151
3.166
6.360
U,5U9
2lt.93U
I9't7-J»i".
iBBues
13.507
1U,091
18.920
5?
Public
nonmarketable
33.1(28
199.5'*3
36
Private
Investors
trust funds and
federal Reeerre
unaatured
Banks
outstanding
U5,U81
19't5
7.l't9
Total
59,016
160
57.120
li(l(.966
57. 729
11*3.
526
58.119
262
181
175
11(2.
UlO
58.575
58.826
59,010
171
171
83
11(6.
162 p
59,260p
Ik
176
9
10
2
2P
68
150
lated by daductin« froa the total aaount of securities outstanding,
the securities held by U. 8. Ooremaent agencies and trust funds
and by Pedaral Beserre Banks*
Includes United States savings bonds. Series A-f. at aaturlty valua*
Consists of Coaaodlty Credit Corporation deaand obligations atated
as of the close of the previous aonth, In accordance with the Dally
Treasury Stateaent.
U
..
September
U
39
194't
Estimated Ownership of Interest-Bearing Securities Issued or Guaranteed
by the United States Government
(Par Toluei 1/
-
tn bllllooa of dollart)
Held by bank*
Total
aaount
out! land-
Ind ot
OODth
Total
Comaerclal
bankB ^/
Held br Don-banJc loTestors
7edar&l
Resenre
Banks
1939-Dece&ber..
l»7.1
18.lt
15-9
2-5
iqltO-June
U7.9
18.6
19-5
16-1
17.3
2-5
2.2
21.8
23-7
21-U
76.5
111.6
28.7
26.0
"•7.3
Ul.l
50.1
59. U
Ui«.2
June
Septeober.
December.
118.6
139-5
161.0
168.7
19UluMarch
June
September.
I8S.6
aoi.i
209.3
Deceaber.
50."*
igUl-Jime
Decenber.
5^.7
19U2.June
December.
63.8
.
19»*3-Harch
67.2
71-5
19-7
52.2
58-3
59-9
6lt.o
230. u
76.2
83.3
87.1
96.5
19U5-March
June
September.
December.
233-1
256.8
260.2
276.2
97.
77-7
106.0
107.3
115.0
8U.2
8U.0
90.8
19Ufe_ February.
278.5
268.6
26U.6
258.0
,116.7
108.2
IOU.3
97.9
fi'.k
258.6
258.3
256.0
97-9
96.8
9U.1
73-9
72.7
71-5
25U.6
255-1
255-2
93-5
92-9
92.0
70.8
70.1
DecflBber.
.
June
September.
December.
.
I9U7- January
Tebruary.
March
.
J4)rll
May
June p
. .
.
68.
70.5
77-7
80.2
7U.5
71-7
IndlTldualB k/
28.7
Insurance
conpanlet
Mutual
Bavln£i
banks
Other
corpo rations and
asBoclatioDi _5/
State and
local
goTernments 6/
tJ.
3.
OcverniDent
agencies and
trust funds
Treasury Bulletin
4o
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947
The tables In Section
June
19'*7
30,
present
I
sumiiiary
such securities owned by
data ae of
from the Treasury Survey of Ownership of
Securities Issued or (Guaranteed by the United States.
The banks and Insurance companies covered In the survey
account
for
approximately 95
Section
-
I
all
banks
and Insurance oob-
panles In the United States.
Section II
presents
summary data on the ownership
Federal Intermediate Credit
of Federal Land Bank bonds,
Bank debentures and Federal Home Loan Bank bonds.
percent of the amount of
Securities Issued or Guaranteed by the United States Government
Table 1.- Sumnary: All Interest-Bearing Securities
(IB
iUloni
of dollari)
Hold b^ InTostoro coTorod Id Troaiury 8urvo7
Banka \J
Total
aaouBi
outitand-
Clasalflcatlon
Public oooirltioa:
Narketablo
Hon-aarkotabl a U/.
Spoclal looues
^
y
33
5*»0
•took
utual
2/
banks
Barings
banka
309
life
Iniuranoe
co^)anl«a
638 flra,
eaaualt/,
and BArlne
Inaurance
coapanlaa
All U. 3.
OoTaroBent
a^aclea and
truat funda,
and Federal
Reaerva
Banka
62,506
l,2l6
"^5
12
ll,8lt5
290
20,865
139
3,104
239
27,281
W,090
227,830
63,722
1)66
12,135
21,00lt
3,3'»3
27,316
27.366
Total laterest-bearlQ^ ocurltlot leiuod or
guaraoteod by the Unltod Statoa
1/
2/
7,318
conaerolal
bank!
I6g,7't0
Total public aocurltloo.
Inauranca eoapaniai
35_
Held by
all other
iDTeatora
2/
U2,685
57,113
99,798
27,366
U66
63.722
255,197
T/
Socurltlat hold Id trust dspartaODts ai axeludad.
laoludot truat coapanioo.
This coluaa locludoo oourltioo hold by thoio banka and inouraneo
eoapanlot which aro not ooTorod in tha Troaoury Survay. See headnote to this eectlon.
^
12,135
2I.OOU
3.3'*3
5!*,
682
99.798
C.C.C. daaand obligatlont In tha aaonnt of )U5 ollllon, all held
by comsercial banke, are ihown only in total Mount outetandinf;
data for reporting banke are Dot arallable.
Ouaraateed eeeuritiee held by the Treaeury are not Included.
Table 2.- Public Marketable Interest-Bearing Securities
PART A
ANALYSIS or OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES,
AND BY TAX STATUS
Held by laTaatora eoTered in Treasury Surrey
Claaeifloation
Total
aaoUDt
outatand1B<
Inauranea coapanlaa
Banks 1/
7,318
ooaaereial
banks
33
510
stook
saTlncs
atoal
aavln^
u
buks
buka
309
Ufa
Inauranca
otnpanlaa
638 flra.
eaaualty,
and Barlna
Insurance
coapanlaa
All U. S.
OoTarnaant
a^nclee and
truat funds,
and Tadaral
Held by
all other
lovaatora
y
Reaerve
Banka
Par Taluas - In lllisas of dollars
Typss of ssourlty
Issued by Dnlted States
Treasury bills
Certificates of indsbtsdness
Trsasury notee
Treasury bonds - bank rsstrlotad U/.
Treasury bonds - bank eligible
Poetal saTinga and other bonde
Ouaranteed by Onltad Statee J/
t
Total.
15.775
25.296
8,1W2
.839
^,636
1,267
69,686
166
>»7,068
38^
1
787
8,520
16
16
201
220
2I19
183
8,300
3.107
•
13
12
l68,7'iO
62,506
112,522
16,237
29,82b
1
16U
157
16,753
3,777
198
128
1.350
1.U25
1
1
'•55
ll.»»5
20.865
32
62U
1.573
1,21*
2.9"*
1,908
1.535
2.079
3,k6
U,g69
1,650
3,058
U.gll?
3.10»
lU,506
6,528
376
U,2U)
1.790
U80
9.821
2.1*5
17,522
''•^
36
2
U
27,281
U2,685
21.20U
1.167
13,559
7,189
Call elaesss
Dus or first beooalng oallabla
l
Vithia
1 to 5
1 year
years
5 to 10 yeara
10 to 15 years
1; to 20 ysars
OTsr 20 ysars
Various (Tsdaral Bouaing Adalnietration
debenturee)
Total.
Tal statue:
18.932
13,326
27,076
l'«,lt05
ll,'»77
2,200
208
2,5'«
97
100
«H
9U
t
lt03
W7
3,61.6
790
399
301
'»55
'•,77't
2.998
993
7.702
5,810
20,865
3,10't
27.281
te,685
1
36
91
99
57'*
llU
2,702
39,868
'12,685
38
12
168, 7'K)
62,506
ik_
166
18,078
361
11,753
20,766
2,528
1,227
26. 018
•^55
11. a^
20.865
3.10't
27.281
^5
6/
Wholly exeapt froa Federal Inooae taxes
Partially azeapt froa federal incoae taxes ]J
Subject to Federal incooe taxes Jj
150, '•96
13
13,291
19,202
Total.
168, 7'K)
62,506
(ContlBuad on following page)
U
5
u
September 1947
u
3
2
S
5
41
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
Part a
-
-
(Continued)
(Continued)
-
ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES,
AND BY TAX STATUS-( Continued )
Held ly Investors covered In Treasury Surrey
Insurance comoanles
Banks 1/
Classification
Total
amount
outstanding
7,318
comsercial
5U0
33
stock
nnitual
banks
savings
banks
'banks
2/
309
life
Insurance
companies
63s fire,
casualty,
and marine
insurance
companies
All U. S.
Government
a^ncles and
trust fvinds,
and Federal
Heserve
Banks
Percentage distribution by classes of securities
lypes of security:
Issued by United States
Treasury bills
Certificates of Indebtedness
Treasury notes
Treasury bonds - bank restricted U/.
Treasury bonds - bank eligible
Postal savings and other bonds
Ouaranteed by United States 5/
Total
9.3
15.0
U.S
29.
U1.3
i^:i
7-7
2.0
75-3
3.6
2.1
1.5
70.1
26.2
.s
.«
so.
6.U
U.l
'*3.5
13.1
U5.9
*
.1
53-2
23.2
1.1*
15.6
6.6
.1
.1
100.0
Call classes:
Bue or first becoming callable
Within 1 year
1 to 5 years
5 to 10 years
10 to 15 years
15 to 20 years
Over 20 years
Various (Federal Housing Adninlstratlon
debentures )
31.1
25.2
11.3
26.0
U7.7
18. '4
3-5
16.0
8.5
.3
it.l
7.1
21.3
22.0
IS.
20.7
10.0
5-3
13-3
10.5
2U.9
32.1
13-9
1.9
9.1
7.1*
10.0
56.9
ll».7
12.3
2U.6
15.0
25-5
77-7
U.3
12.
11.0
3.6
9-7
1-7
1.7
.1
100.0
Total
Tax status:
6/
Wholly exempt from Federal Income taxes
Partially exempt from Federal income taxes 2/
Subject to Federal income taxes j/
Total
.1
10.7
39.2
21.3
73-7
20.6
100.0
100.0
100.0
79.
5
99.2
99.5
IS.
81.
95. ii
Percentage distribution by groups of investors
Types of security
Issued liy Ifcilted States
Treasury bills
Certificates of indebtedness
Treasury notes
Treasury bonds - bank restricted J^.
Treae\try bonds - bank eligible
Postal savings and other bonds
Ouaranteed by United States
:
^
Total
100.0
100.0
100.0
100.0
100.0
100.0
100.0
92.0
5.0
33-7
.1
59. >*
.2
2.6
67.5
S.l
31.5
.It
•
3
'».7
1.0
2.3
16.7
".5
1.9
33.8
5-'*
8.5
2.6
•
.1
22.0
10.
.6
35-8
16.2
100.0
37
31.0
70.1
60.6
l6.5
.1
1.2
.8
.7
UO.U
.2
u
"t.S
.8
.3
17.7
1.8
2-5
5-9
1-5
2.1
2.7
15 to 20 yeare
Over 30 years
100.0
100.0
100.0
100.0
100.0
100.0
Tarious (Tedaral Eousing Administration
debentures)
100.0
31-5
Call classes:
Due or first becoming callable
Within 1 year
1 to 5 years
5 to 10 years
10 to 15 years
Total
^
12.1*
s.l
15.6
1*3.8
3
22.1
lU.l
11.5
'».7
10.'*
35-S
7.0
12.'*
:i
37.0
lai statu.:
Wholly eiempt from hdaral income taxes
Partially exempt from Inderal Income taxes J/
Subject to Tedaral income taxes 2/
Total
7.0
21.2
100.0
100.0
100.0
8.1
73.5
32-7
.5
.2
7.8
13-8
IQO.O
37-0
.3
70
12.1*
(Continaed on following page)
2.1*
3.1*
11.1
6.9
'*.5
16.
.1
.8
•5
3.2
1.7
22.0
6.S
17.3
16.2
Treasury Bulletin
H2
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PART B
-
-
(Continued)
(Continued)
-
DISTRIBDTION OF OWNERSHIP FOR EACH I88UE OUTSTANDING
(Par values - In millions of dollars)
Held hy Investors covered In Treasury Survey
Insurance companies
Banks 1/
Issues
(Tax status 6/ Is shown In parentheses)
Treasury hills
Certificates of Indehtedness
191*7..
July
7/8)1
August
191*7
7/8*
I9U7
Septemher
^/Sf^
October
Bovember
December
19U7
19l*«
7/S!S
January
Pebruary
March
7/8*
7/Et
April
June
19>*8
7/Rl
7/gji
7/8-;4
7/8!;
j/si
Total
amount
outstanding
7,318
commercial
toanke
33
stock
savings
i/
l)anks
5ltO
mutual
savings
hanks
309
life
Insurance
companies
(taxable)
15,775
787
(taiahle)
(taxahle)
.(taxable)
2,916
1,223
2,3Ul
1,080
560
68U
16
22
22
(taxable)
(taxable)
(taxable)
i,i*uo
1,775
3,281
573
673
772
28
19
26
(taxable)
(taxable)
(taxable)
3,131*
l,3'*5
1*1*
11*
3, 91*7
1,075
892
(taxable)
(taxable)
1,321
1,777
1*56
25,296
8,520
191*7
I9U7
19l*8
19lt«
19U8
Total certificates of Indebtedneee
2,11*2
16
companies
All n. S.
Oovernment
agencies end
trust fonds,
and Federal
Reserve
Banks
Held hy
all other
Investors
ll*,506
1*80
666
261
885
1,097
366
708
38
18
1*
10
9
28
1^
6
17
15
29
382
568
671
223
2,22l*
779
1,781*
2I18
21
19
26
19
1*56
932
978
726
h
10
1
u
6
11
325
318
l,02l*
2i*9
161*
198
6,328
9,821
55
72
57
136
38
2U
65
17
57
302
899
683
863
376
2,1*1*5
210
2,175
1,853
390
1|8
1*10
638 fire,
casualty,
and marine
Insurance
528
Treasure' notes
l-l/l**
1-1/3^
I-I/3J
Siptemher I9U7
September 191*7
September 19U8
(taxable)
(taxable)
(taxable)
Total Treasury notes
Trepsury bonds
Bank restricted k/
a-lA* June
Z-lA* Becember
2-1/38 June
1,836
6ei
"US
It
338
280
1,095
5"*
6U
2,831
3,761
3,838
2
5,197
1965-70
1966-71
1967-72
1967-72
(taxable)
(taxable)
(taxable)
(taxable)
Total bonk restricted
2-1/2*
'i
(ta:;able)
1961t-69
2-3A*
157
8
March
March
June
December
1-3/1**
183
96
288
2-1/2*
October
December
March
16
2,118
(taxable)
(taxable)
at
2*
U,839
5,281*
3,'*70
1963-68
196U-69
l*-lA*
S.lUs
(taxable)
(taxable)
(taxable)
December
June
December
2-1/2*
2-1/2*
658
2^*8
1959-62
1959-62
1962-67
2-1/38
2-1/2*
2-1/2*
2-1/2S1
1,687
2,707
3,71*8
191*7-52.
.
I9U7
19^8-50
.(partially)
(partially)
(taxable)
19ll€-51. .(partially)
March
June
191*8
(taxable)
September 19l*8
(partially)
.
3,1*81
573
827
593
1,350
1,608
5
6
18
16
62
58
17
13
381*
2,526
1,58'*
1*3
239
1,191
1,562
3,157
2,852
280
201
8,300
16,753
1,350
7
2
110
11
6
25
103
U
2
7,967
11,689
?5
U9,636
1,267
759
701
1,115
1*08
1,223
3,062
865
2,028
371
1*51
5
521*
70I*
(Continued on following pa^)
5
221
269
362
1,61*3
66
1
151
616
986
1,156
715
651
779
883
l,lil*0
l*,2l*3
17,522
20
1*0
19
15
»
273
155
1*0
2I10
155
11*5
25
798
63
lUl
28
38
10
909
2,595
5,li02
September 1947
'^3
TreaBury Survey of Ownership of Securities Issued by the United States
Government find by Federal Agen^.ies, June 30, 1947 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
PAHT B
-
-
-
(Continued)
(Continued)
DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE OUTSTANWNO -(Continued)
Treasury Bulletin
44
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Goveminent
Table 3.- Public Non-Marketable Interest -Bearing Securities
-
(Continued)
September 1947
^5
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1047 - (Continued)
Quarterly Data on Ownership by Commercial Banks, Classified by Membership
In Federal Reserve System
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary: All Interest-Bearing Securities
(Ic »llllon6 of doll«r»)
Maabar oosBerctal banks
Total
7,318
co«a«relal
banki
ClastifleatlOB
Cantral reaerre city bajUct
Total
3W
coiDDerci«l
1/
Total
51 central
raservfl
banks
37
lU
Haw Tork
City banki
Chleaco
banks
raaarTa
city
banks
U,36g
country
2,553
noDnanbar
coBBsrctal
banks
Qlt/ banks
Public f0curltl««:
Marketable
HoD-marketable 2/.
62,^6
Total public •«curltl«l 2/.
1/
l,Zl6
55,203
925
^3^2
63.7M
56.12g
15.Z33
18
20,270
165
19,78U
676
7,303
291
2,852
20,"<35
20.U61
7,593
12,315
66_
iDCludes trust companlas but axcludae sacurltlas held In trust
departaents.
g7
12.381
bcludss C.C.C. dsaand obllgatlona In the aaount of fl5 ailllon, all
held by comarclal banks; data for reportinc banks are not available.
Table 2.- Public Marketable Interest-Bearing Securities
PART A - ANALYSIS OF OWNERSHIP BY TYPES OF SECURITY, BY CALL CLASSES,
AND BY TAX STATUS
Meabar coamerdal bonks
Total
7,318
Cantr&l reaerre city banks
Total
•.765
Classification
banks
3'*6
aarnbar
Total
51 central
reserre
city banks
37
lU
Bew Tork
City banks
Chicago
banks
reserve
city
banks
U,366
country
banks
Par Taluas - in allllons of dollars*
Types of security
IfiBued by United States
Treasury bills
Certificates of lodebtadnass
Treasury notes
Treasury bonds - bank restricted 2/.
Treaeury bonds - bank eligible
Postal saTlngs and other bonds
Ouaranteed by United States
:
Total.
Call classes:
Due or first becoalnf callable
<lthln 1 year
1 to ^ years
5 to 10 years
10 to 15 yeare
1^ to 20 years
Orsr 20 years
Various (Tederal Housing Idalnlstra
tloo debentures)
Total.
Total.
73"
7,121
2U3
1,519
7
5
10,27">
2,231
1,267
930
869
12
it7,o68
l»2,29't
12,505
13
12
10
10
62,506
55,203
'»,839
16.237
ll»,025
29,82ll
2,5'»8
26,583
10,312
1,967
lUg
2,159
12
10
62,506
137
368
123
15,
l^
12,315
2, 831*
20,270
73*
1,223
5,609
3.012
2, 1*12
55,203
'19,202
12,56'»
1*2,630
62,506
55,203
6,1171
1
1
150
59
6I1O
15,1"<9
12,315
2,831*
20,270
'»,77'»
10,375
3,725
8,590
i,oUg
1,785
111, 97*
15,l''9
12,315
2,83't
20,270
268
2IA
19,78ll
••.670
9.^25
3:716
819
18
13
13,291
158
2,571
1,733
766
1U,5U3
7
3,7'i6
7,69i»
2,200
208
333
3,031
1,502
152
15,2M5
5_
2,985
512
2
209
ll,'t77
106
^
Tax statue
Vholly axesipt froa federal incoae taxes.
Partially axsapt froa federal incoae
taxes U/
Subject to federal Incoae taxes U/
!
787
8,520
5.293
128
2,553
nonaaabar
coamerclal
banks
Treasury Bulletin
1^
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, J»me 30, 19<f7 - (Continued)
Quarterly Data on Ownership by Comnerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Goven»ent
Table 2.- Public Marketable Interest-Bearing Securities
-
(Continued)
(Continued)
PAEt A - ASALISIS OF OKiERSEIF 31 T7?E3 Of SEOIHITI, BI CALL CLAflSIS,
A«D 3T TAX 9TATDS-(0ontlBU«d)
CImbUIcaUos
-
September 1947
ki
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Quarterly
Section
I
-
[)ata
on Onershlp by Coanerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Securities Issued or Guaranteed by the United States Govemment
Table 2.- Public Marketable Ijiterest-Bearing Securities
-
(Continued
(Continued)
-
PART B - DISIRIBDTIOi Of (WIEBSEIP TOR EACH ISSUI 0DT9TASIIIB(J
C?ar Talaet - Is sllllcsa of dollar*)
erd&l
!9tal
7,313
(tax vtetuB
^ it
?0'.ii
(taxable.
?-3
773
fclj
iPtTT
CtBxiile)
•.,'JiZ
7/g*
*i«ii»t
SejitcBber
ISf^s?
(t«Dil«)
1^
(teiafcl*)
;*
^-
7/8*
7/8*
7^8*
Octoier
13k7-
7'8*
7/g*
7/8*
Jeaoair
fcbroErr
KsTih
ISM...
7/8*
7/S*
JcTil
Jiae
13>>e
l?l<g
.
.(tazalila)
)
19>«...
.(•.a
19M...
.(•.a
ile)
total certiri:s:ei of la
--:,'-?
l-l/af
i-:/2*
2J
3*
673
772
Sfe2
1.3*5
1,075
T05
7^-2
*ic
3*3
52
83
8,5Z)
7,1a
1,519
;i2
(•.>Tf>.la)
(taiaile)
5e;te3iKr 15^7
SeptaaSer 1=^7
Seyt-aisr l=i8
.(taxalila]
.(taxable)
77
.-7:
1.733
S05
..(tazaUa)
.. (taxable)
..(taxable)
:3ba-57
.(-.
96
2EZ
569
a5
3
ile)
ble)
(tszabic)
.
2-1'^
.--^
~-
>
/2t
252
161
.(tazaUa)
*2l iTBdaui y aotea.
i2
..(-.axzile)
.
.
(Vszable)
(taxable)
70
>5
&57
50-:
1,267
53c
25*
135
65
II
*8
13
13
1.151
52
368
25
''3S
PC,,.
II
7*«
123
HOC
eo^vrdal
'saslca
158
31
27
121
eocjitry
tenia
:-J7
(taxable)
.(taiaUa)
19*7-
lew lorr
Clt7 teEkl
190
5*5
reeerre
city
lb
37
r*fterTe
TSi
2,553
&oas«sb«r
3hfi
abovs is pttr«B%hes«ij
^27 bills
bssJci
^e£tr&l reierre ctxj b«cJci
Treasury Bulletin
l^g
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Quarterly Data on Omership by Comnerclal Banks, Classified by Membership
In Federal Reserve System - (Continued)
Section
I
-
Securities Issued or Guaranteed by the United States Government
Table 2.- Public Marketable Interest-Bearing Securities
-
Issue
(Tax status J/ is shown in parentheses)
(Continued)
(Continued)
PART B - DISTRIBUTION OF OWNERSHIP FOR EACH ISSUE 0UT3TANDINa-( Continued)
(Far values - In mlllious of dollars)
-
1^9
September 1947
Treasury Survey of Ownership of Securities Issued by the United States
Government and by Federal Agencies, June 30, 1947 - (Continued)
Quarterly Data on Ownership by Conmerclal Banks, Classified by Membership
In Federal Reserve System
Section
I
-
-
(Continued)
Securities Issued or Guaranteed by the United States Government
Table 3>- Public Non-Marketable Interest-Bearing Securities
(Par Taluas - la
Isauo
(Tax statui 1/ la ohova la paranthaaaa)
llllona of dollar*)
-
(Continued)
Treasury Bulletin
50
PRICES
AND
YIELDS
OF
GOVERNMENT
SECURITIES
(Including securities issued by Federal agencies)
51
September 1947
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
As of July 31, 1947
Table
I.
Securities Issued or Guaranteed by the United States Government i/
PART A
Aaount
outstanding
(Millions)
-
TAXABLE BONDS, NOTES, AND CERTIFICATES
52
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
Dili ted States Government and by Federal Agencies
As of July 31, 1947 - (Continued)
Table
I
-
Securities Issued or Guaranteed by the United States Government 1/- (Continued)
PART B - TAXABLE THEASUM BILLS
Aaount
Ottt-
• tudliic
(MllllODl)
September 1947
53
Over-the-Counter CloBlng Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
As of July 31, 1947 - (Continued)
Table II
Aaount
outatandlne
(Nillions)
-
Securities Issued by Federal Agencies but not Guaranteed by the United States
5"^
YIELDS OF TREASURY SECURITIES
JULY 31
Based on Mean of Closing Bid and Asked Quotations
Treasury Bulletin
.
1947
September 1947
55
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent per annua)
Partially
Taxable
tax-ax orpt
Traaaury
Tr«atur7
bondi 1/
bonde 1/
(Tade
corporate
bondi 2/
Date
Monthljr
1939-Jm..
2.;U
Tab..
Mar..
'd]
Apr..
May..
Juna.
July.
iu<..
Sapt.
Oet..
lOT..
Dac.
19>tO-Jaii..
Tab..
Mar..
i*r..
May..
JuAa.
July.
int..
Sapt..
Oct..
Not..
Dec...
igltl-Jan..,
Fab..,
Mar...
Apr..
May..
Juno.
July.
Aug..
Sapt.
Oct..
lOT..
Dac.
Partially
tax-exempt Taxable
Treatury
Treaeury
bondi 1/
bonde 1/
Hlgfa-
•rial
-
Highgrade
corporate
bonds 2/
aTtraga* of daily flfurai
Partially
tax-exen^t
Treatury
bonds 1/
Taxable
Treaeury
bond. 1/ t„^4,
2/
Treasury Bulletin
56
o
ol(D
O
M
(0
csi
So.
c
o
z
o
CD
LJ
o
Q.
q:
o
o
^
UJ
a: o)
I- >,
c
o
UJ
II
o
O
-I
LJ
>UJ
CD
<
a:
UJ
00
cJ
o
to
CM
ro
(O
lO
00
lO
o
CM
September 1947
57
CORPORATIONS
OF
THE
CERTAIN OTHER AGENCIES
UNITED STATES GOVERNMENT
AND
Treasury Bulletin
58
Corporations and Certain Other Agencies of the United States Government
Section II
-
Income
tind
Expense for the Nine Months Ended March 31, 1047
Table 1.- Summary
(Xb thousftnde of dollars)
Certain
Corporations
Total
SaJ«« of coaBodltla* and ti^plles
Salei of eorrlco*
ROQta «nd ro/al tioa
lotcroit and dlvldonds:
Interest on loans
Interest, other
DlTldends
Guaranty and Insurance prealuBS
Other Incone;
Gains on sale of fixed assets
O&lns on sale of Investaente
Gains on sale of acquired security or collateral
Other
Total incoaa.
2,531,236
890,578
98,9»5
2,529,5'*5
23U,5lA
12U,92U
31,985
50,713
15,960
U,4lt;
U,li09
150, '•02
121,662
«o6
1.537
«51
1.537
738
18,700
622
18,318
3,969,575
2,900,326
2,ll05,ltg7
2,U0'l,2ll0
Ijtpense
Coet of coamodltlae and supplies aold
Direct operating costs
Interest szpense
AdBlol stratlve expenses
Depreciation (not Included In cost of sales or
direct operating ooets)
Grants, subsidies and coDtrlbutionei
Direct
Indirect
Guaranty and inauranoe lessee
Other expenses
Losses and charge-off s:
Loans charged off
Other assets charged off
Loeeee on eale of fixed aseete
Losses on sale of InTestaeots
Losses on sale of acquired eeeurlty or collateral
Direct chargee to oparatlnf reserree
Other
Total axpenee.
let inoosie (or loes [-j) before adjustasnt of Talu>tloo and opsrating reserree
Adjustaente of Taluatlon and operating reserree
Reserre for loeses on loans
fiessrrs for losses oo acquired eeeurlty or collateral
Reserre for losses on fixed aasets
Reserre for losses on coasoditiss and supplies.
Operating reserree
Other reserves
Het adjustaent of Taluatlon and oparattng raearrao.
Vet Ineoae (or loss [-J)
Changes In unreserved earned eurplus (or deficit [-])
Unreserred earned surplue (or deficit C-] '
June 30, I9U6
Hot Incoae (or loes t-1 ) for tha nine aonthe
ended March 3I I9U7
Transfers to [-] surplue reserree
Tranefers froa surplus reserree
Dietrlbutlon of profltsi
To General fund roTenues - deposit of
,
eaml o^
Dividends
Other
Prior year adjustaente
UnreeerTed earned surplus (or defioit
March 31, 19U7
[-}
1,108,232
106,326
133,07>t
•13,126
99,309
61,366
iz.Uge
3,118
110,109
53
56,282
69,639
55
56,282
66,3110
"•6,035
«,573
35,673
2,107
550
16,706
2,75U
5,819
1,707
5.819
1,623
l»,ii5,U8i
2, no, 383
-115.906
»9,9l3
6i>,>i6i>
1(06
3,''3't
5.028
-3,82't
21,089
-U.gjg
6,511
1,657
-3,82U
21,089
-1,687
6.962
26,915
21,631
-118,991
III.57I
-17,699,23'» r
-6, •99,917
Ul,57l
-118,991
-281,172
2,259
-281,172
2,259
-80,199
-15, "ty
-2,366
-117,883
-12,609
-2,895
-1,312
)
-18,312,988 2/
-7,081,103
!•
.
59
September 1947
Corporations and Certain Other Agencies of the United States Governoient
Section II
-
(Continued)
-
Income and Expense for the Nine Months Ended March 31, 1047
-
(Continued)
Table 2*- Corporations
(In thoueandt of dollars)
Sxecutive
Office of
the President
Office for
Xmergenor
Maaagtaent
Smaller War
Plants
Corporation 3/
Department of Agriculture
(continued on following ps^e)
Varm Credit Administration
(continued on following pc^)
Conimodity
Credit
CorporatlOR
(in llttoldatlon]
Ineoae
Sales of coBBodities and sn^fplies
Sales of services
Bents and royalties
Interest and dlTidendsi
Interest on loans
Interest, other
1,730,368
12U,92>1
1,310
federal
Intermediate
credit tanks
federal
land
banks k/
358
3>6?7
7*3
3.852
790
31,0U9
2,324
>t[U09
Di rid ends,
OuArenty and Insurance prsviuas
Other Ineoae:
OBiQs on sale of fixed assets
0«ins on sale of loTestaents
OalQs on sale of acquired security or collateral
Other
121,662
651
1,537
-.
Iipense
Cost of eomodities and supplies sold
nrect operating costs
Interest expense
Adainistratlve expenses
Depreciation (not Inclxided In coat of sales or
direct operating costs)
Orants, subsidies and contributionai
Direct
Indirect
Quaranty and Insurance lessee
Other expenses
Losses and charge-offs:
Loans charged off
Other assets charged off
Losses on sale of fixed assets. ..7
Losses on sale of investaents
Losses on sale of acquired security or collateral
Direct charges to operating reserTes
Other
Bet adjuataent of valuation and operating reserves
}
,
.
See page 12 for footnotes.
3,6"^5
95
27
500
211
2,900,326
X,77'»
1,735,681
U,9ili
>t,669
311,661
2,'»9.
2,'»?3
9,322
10,179
2,llO>t,2l|0
1,659,307
U3,126
99,309
61,366
5,5'»3
6,197
602
1,017
3,118
633
13
69,639
-9,387
'16,035
9,217
2,107
550
16,706
62
377
l,l6ii
-157
6l>
6I1
uoe
5,819
1,623
5,719
2,810,383
1,677,668
1,638
3,721
19,'K)7
58,012
3,276
9»'7
15,25't
-28,306
-86
89,9^3
Adjnstaents of valuation and operating reserves
Reserve for losses on loans
Reeerve for losses on acquired security or oollateral
Beserve for losses on fixod assets
Beserve for losses on coaaodltiee and supplies....
Operating reservce
Other reserves
[-]
1,77'*
55
Total expense
Changes in unreserved earned surplus (or deficit
Unreserved earned surplus (or deficit C-l),
June 30, I9U6..
Set Income (or loss C-] ) for the nine aonths
ended March 31 19U7
Transfers to 1-2 surplus reserves
Transfers froa surplus reserves
Distribution of profits:
To Oeneral fund revenues - deposit of
earnings
Dividends
Other
Prior year adjustaents
Unreserved earned surplus (or deficit Z-l),
March 5I 19»*7
18,318
56,282
Met income (or loss [-] } before adjuataent of raluation and operating reserves
Uet Incoae (or loss C-3
576
379
622
Total ineoae
Note:
2,529,5"^
50,713
15,960
Banks
for cooperatlTes
1,77'»
3,t3'>
>',759
1U7
1,657
-3,8*
2,659
-•,269
135
21 ,089
-'•,687
6,962
2U,631
llU,57lt
l,77t
-6,«99,9>'7
-37,070
ll'»,57''
1,77'»
-3
»,906
-29,781
-»9
28,232
3,1»7
9U9
20,160
30,036
23,286
85,911
3,187
-50
9119
20,160
-1,723
)
-2,llt9,836 r
28,232
-281,172
2,259
-U 9U8
-12,609
-2,895
-1,312
-7.081,103
-35.296
(Continued on follovin^ pa^)
-2.121 .60U
33.173
2'>,235
97.''00
60
Treasury Bulletin
Ck)rporatlon6 and Certain Other Agencies of the United States Government
Section II
-
Income and Expense for the Nine Months Ended March 31, 1047
Table 2.- Corporations
'
-
(Continued)
(In thonaaade of dollari)
•
(Continued)
(Continued)
September 1947
61
Corporations and Certain Other Agencies of the United States Government
Section II
-
Income and Expense for the Nine Months
Table 2.- Corporations
-
(la thonaandi of dollari)
^ded March
(Continued)
31, 1947
-
(Continued)
-
(Continued)
Treasury Bulletin
62
Corporations and Certain Other Agencies of the United States Ctovemment
Section II
-
Income and Expense for the Nine Months Ended March 31, 1047
Table 2.- Corporations
do
-
-
(Continued)
(Continued)
(Continued)
thouaaiuli of dollar*)
^deral I«an Agency
Beconstruotlon Tlnanee Oorporatloa and oertsdn affiliates 12/
Beconstruetion Tinanoe
Corporation
Ixolusive
of Merged
War
Affiliates
Income
Sales of commodltleB and snppllee
Sales of serrlcea
Bent* and royalties
Interest and dirldenda:
Interest on loans
Interest other
BlTldends
Onaranty and Insurance premltUBB
Other Income:
Gains on sale of fixed assets
Gains on sale of Investnents
Gains on sale of aeqolred aaeorlty or collateral
Other
,
Total Income.
Merged
»»r
Affiliates
federal
Bational
Martga««
AsBoelatloa
The SIC
Mortgage
Coapaay
716, 73U
369
203
Var
S.
Oosmerclal
Company
Dbnage
Corporation
8.2't7
8,25s
7.028
78lt
D.
13
30
205
12
512
179
10
26
1.72't
l»,209
699
11
6,852
30,635
739, '*^3
220
57
2,137
802
10, '•21
1,726
Expense
Cost of ooomodities and supplies sold
Direct operating costs
Interest expense
AdjnlnlstratlTe expenses
Depreciation (not Included in cost of sales or
direct operating costs)
Grants, subsidies and oontributiona:
Direct
Indirect
Guaranty and insurance losses
Other expenses
LoBses and charge-offe:
Loans charged off
Other as Bets charged off
losses on sale of fixed assets
LoBses on sale of inTestmenta
LosBOs on sale of acqtdred security or oollateral
Direct charges to operating reserrea
Other
Total expenee.
Set income (or lose C-J ) before adjustment of TaluAtion and operating reeerres
lote:
See page 72 for footnotes.
7,705
15
1,2U9
180
22
551
31
39
687
69
92
776
299
219
105
26,557
1,013
16,706
l,6iii
llt.051
866,312
696
9,91''
532
l6,5gU
-126,869
107
507
1,19'»
-3,82U
17, n't
Het adjustment of valuation and operatingreeerres
Changes in unreeerred earned surplus (or deficit C-T)
Unreserwd earned surplus lor deficit [-]},
June 30, 19lt6
Net Income (or loss [-]) for the nine aonthe
ended March 31, 19U7
Transfers to [- ] surplus reserree
Trensf er* from eurplus reeerres
Dietrlbution of profits:
To General Fund rsTenues - deposit of
earninge
DlTl dends
Other
Prior year adjuetmenta
Otareserred earned surplus (or deficit L-]),
March 31, 19117
lU
6l»,372
68.455
Adjustments of Taliiatlon and operating reeerres
Beeerre for loeees on loans
Beserre for lessee on acquired security or collateral
Beserre for losses on fixed aesets
Beserre for losses on eomoodities and uppliei..
Operating reeerTes
Other reserres
Net Income (or loss C-j)
7,110
670,920
9,98U
U,g2S
8,110
l6,5«lt
7.800
57
21,290
595
107
1,102
1.19"*
287
3,708
-1*5,007
207,323
-105,579
9
107
1,102
1,194
-5,560,50't
297
3,815
-165,639
-105,579
518,607
16,58U
516
325
-1,73U
535,516
(Continued on folloving page)
208,517
,
63
September 1947
Corporations and Certain Other Agencies of the United States Government
Section
II
-
-
Income and Expense for the Nine Months Ended March 31, 1947
Table 2,- Corporations
(Continued)
-
(Continued)
(Continued)
-
(tn thoaBand* of dollare)
Batloiud Honeln^
federal Home Loan
Bank Adolnlitratlon
federal
home
loan
banln
Income
Sales of oomoodltles and supplies
Sales of services
Bents and royalties
Interest and dividends:
Interest oo loans
Interest, other
Dividends
»
Guaranty and Insurance prsnluaa
Other Incoae;
Qalns on sals of fixed aeeeta
Gains on sals of Investaents
Galas on sale of acquired aeourlty or collateral
Other
federal
Sarln^e
and Loan
Insurance
Corporation
A^bcj
federal Public Housing
inthorlty and affiliate
Home
0«iere'
loan
Corporation
federal
Pabllc
HonBln^
iathorltj
3,8l»8
Total Incoae.
3,3«i
1,995
2,9n
291
23
5,676
22,277
101
171
5,528
1H6
Defense
Homes
Corpor*tlOB
Pajuaa
BallTosd
Compa&j
2>l,206
2l>
168
280
136
535
llH
6,588
23,'^2
Tennessee
'alley
tothorl ty
tlTsa, Inc.
352
26
'•273
3S9
Tennessee
Yallej
Aaeoclated
Coopera-
8,605
31,196
273
6,900
37
2.098
9,523
5,069
31.311
U2,i9i
20,267
8,755
Ik, 884
2,69U
1,962
201
3,663
8U1
78
561
2,0'l9
57H
2,008
3)0
8,015
Ijtpense
Cost of coBBodltles and supplies sold
Direct operating costs
Interest expense
Adalnlstratlve expenses
Depreciation (not Included In cost of sales or
direct operating costs)
Grants, subsidies and contributions:
Direct
1,519
736
'•,?37
3«7
3,»13
2
7,652
kA
l.,«36
Indl rect
Guaranty and Insurance losses
Other expenses
Losses and charge-offs:
Loans charged off
Other assets chargsd off
Losses on sale of fixed aesets
Losses on sals of Investsents
Losses 00 sale of acquired security or collateral
Direct charges to operating reserves
Other
"KS
1
119
7
Set Income (or loss [-]) before adjustment of valuation and operating reserves
2,6«0
391
«,559
9,966
»,7g3
30,588
35,077
Z,996
8,198
lU,893
-IA3
286
723
7,11"
3
122
Adjustmente of valuation and operating reserves
Reserve for looses on loans.
Beserve for losses on acquired security or collateral
Reserve for losses oo fixed assets
Reserve for losses on commodities and supplies..
Operat Ing reserves
Other reserves
-190
si
Het adjustment of valuation and operating reserves
Net income (or lossC-!])
2,996
C-J
9
3
Total ezpenee.
Changes in unreserved earned surplus (or deficit
Unreserved earned surplus (or deficit C-^),
June 30, I9W
Bet Income (or loes C-]) for the nine months
ended March 3I, igU?
Transfers to L-l surplus reserves
Transfers from surplus reserves
Distribution of profits:
To General fund revenues - deposit of
37
-573
-1
58
U5
-57>t
8,255
15,009
-1,017
-190
2<6
823
2,319
••5,777
-7
-6,860
286
823
-189
7, Ilk
-189
7,11't Ik/
)
S.UlO
2,996
-1,077
-81,686
8,255
-2,250
15,009
-31,367 r
-1,017
1,859
15/,
eaml ngs
Dividends
Other
Prior year adjustments
Unreserved earned surplus (or deficit C-J
March 3I, iglt?
Hote:
See pa^e 72 for footnotes.
-l,U9g
-57
-1,250
_2I!L
}
«.77'>
6.006
-66.678
-32.383
U7.2ig
^126_
_25i_
Treasury Bulletin
6h
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section
II
-
Income and Expense for the Nine Months Ended March 31, 1947
(Continued)
-
Table 3.- Certain Other Agencies
(Id thouaanda of dollars)
Setlonal
DepartneDt of
Agriculture
Tarv
Credit
AdmlDli- ranaert
tration Home
Agricul- AdnlalBtratloD
tural
Total
Market- 16/
log Act
ReTolTiag Fund
IncoBc
Sales of cooBodltlas and aiippliaa
Sales of sarrlcea....
Rants and royalties
Interest and dividends:
Interest on loans
Interest, other
DlTldends
Ouaranty and insurance prealuae
Other income:
(l«lns on sale of fixed assets
Oains on sale of investments
Gains on sale of acquired security or collateral
Other
federal
Works
A«enoy
18/
Unl tad
7aderal Statas
Housing Marltlaa
AdjDlnCoBBlaIttrafllon actlon
tlTltlei
Othar
Var
Shipping
20/
AdjDlnlB-
tratlon
actlTltlaa IJ/
28
1,691
1,663
839,865
865
lfl«
11,886
9
7.262
19'»
81,60>t
595
1,1115
28, 7^0
-81
2,775
88,901
70
36
232
3,10't
2«,50«
56
155
99
116
582
1,069,2U8
Total Incoae
Depart'
me&t
Rural
of the
llectrlloterlox
f Icatton
11/
Admlnl stratlon
839, «65
82,68;
109,620
5,958
United 3tatei
Marl t lie
Comal BtloD
Bousing
A««nC7
27
17"
53
52
12,268
7,262
505
1,U15
31.25''
3,820
839, «65
172,806
3,022
1,022,805
11,919
1
«.37't
39,153
810
21,103
Scenes
Cost of coBooditias and supplies sold
Direct operating costs
Interest expense
Administrative expenses
Depreciation (not included in cost of aalae or
direct operating costs)
Orants, suhsldlee and contrihutlonei
Direct
Indirect
Ouaranty and Insurance losses
Other expenses
Losses and charge-offer
Loans charged off
Other assets charged off
Loeses on sale of fixed asaets
Losses on sale of Investmeote
Loeses on sale of acquired eecurity or ool*
lateral
Direct ehargea to operating resarvaa
Othar
Total expenaa
Sat Income (or loss C- ) before adjuatment of Talua^
tloo and operating reservse
1.2'»7
1,2'*7
125
1,067
1,065,106
7,017
71,708
lU.iito
9.369
-27
••,721
U,32li
Itl6
598
155
11,095
9,332
8.06k
I«),li69
67
-2
32.33«
-2
20,1>I0
20,305
I>,lt66
6l»,0ll»
157
1,588
2,878
611,001
13
13,8lt8
18,967
1,783
z.jus
397
1,305,098
19,09l»
9.0*^
601
8,219
13,^96
81,266
1,031,180
1>I2,18U
-235,850
-6,826
-1.783
-96
-6,80H
17.759
77,1*6
-191,315
30,622
3,333
uo
1,911
19
65
1
Adjuatnents of valuation and operating reservee
Reserve for losses on loans
Reserve for loeses on acquired eecurity or collateral
Baaarve for losses on fixed aeaeta*
Baaerva for loeses on comnodltlee and auppllaa..
Operating reservee
Other reservee
Bet adjustment of valuatlonand operating resarvaa
Het income (or loes [-])
-U85
3.371
-3,380
2
IH
2.893
3,358
-151
-151
-151
-"51
2,28>«
-3, 3*0
-233.565
•10,206
Changes In unreserved earned eurplua (or deficit c-])
Unreeerred earned eurplua (or deficit [/-]),
10,799 ,287 r 316,37't
June 30 igUfi
Net income (or loee [-]) for the nine montha
-233 ,565
ended Harch 3I, 19U7
53
Transfers to [- J eurplue reserves
Transfers from sxirplua reserves
Distribution of profits:
To Oeneral Fund revenuoe - deposit of
earnings
19?
Divldende
79*
Other
532
-116 571
Prior year adjustmeote
Unreserved earned aorplus (or deficit [-]),
March 3I, 19117
-11,231,8^
-316,321
,
-10,206
2.291
3.359
-1,783
-96
-6.80U
-8,226
-"9.156
1.877;5"2
-1,783
-96
-6,80"
-19
-77,»6
-191,315
"8,393
605.315
-7,350,681
21,118
-77,""6
-191,315
See pege 72 for footnotee.
.6"o,3g5r
32,913
-78,760
-1,"15
-2.79"
-2",935
10,206
•"9,256 1,885,761
66,718 -707,696
±:
Bote:
32,913
-61,90"
532
-29,732
-7,603,901 -7l5,''32 2i/
September 1947
65
Corporations and Certain Other Agencies of the United States Government
Section III
-
Sources and Application of Funds for the Nine Months
Table 1.- Summary
(In thoutaad* of dollari)
&ded
-
(Continued)
March 31, 1047
Treasury Bulletin
66
Corporations and Certain Other Agencies of the United States Government
Section
III -
-
(Continued)
Sources and Application of Funds for the Nine Months Ended March 31, 1047 - (Continued)
Table 2.- Corporations
(1b thoasandB of dollari)
Iteeatlre
Off loo of
tbo Praildant
Total
Offlco for
borgoaojr
Manaeomani
Smaller Var
Plant
Cozporatloa 2/
Dtpartaent of A^ricnltoro
(doatinuad on follovin^ pago)
Fara Cradlt Mmlalatratlon
(oontlnaod on follovloc pago)
CoBDOdlt^
Credit
Corporation
(la II411Idatlon)
funds Appllad
To acquisition of asset*
Loans aada
Purchass of loTestaantsi
Public debt obligations of United Stataa.
Other eacurltlee
PurchaesB, construction or laproTaaents of
fixed assets
Costs of acquiring collateral on defaulted
1 oana
Other
Total acquisition of assets.
To expenses (excluding depreciation and other
charges not requiring funde)
To retlreaant of borrowings and capital, and
distribution of surplus]
Repa^ent of borrowings:
To 0. S. Treasury:
By oaah
By cancellation of notee
To other OoTernaent corporations and
agencies
To the public
Repayaont of capital and sxixplus:
To U. S. Treasury
To others
General fund roTonues - deposit of eaminga.
Dividends
Other distribution of surplus
Total retlrsaent of borrowings and capital,
and distribution of surplus
To increase in working capital and deferred Iteae.
Other funds spplied
Total funds applied.
Funds Provided
By realization of assets:
Bepaymeots on loans
Sales or collections of Inveetaants:
Public debt obligations of Onited States.
Capital etock of Oovemnenl eorporatlona.
Other securities
Sales of fixed asaete
Sales of acquired security or collateral
Other
Total realisation of aasets.
By incoae.
3,1«5,086
263.777
U3U,6n
1,038
Us
21,729
2,>t2g
5.'*09
3,650,371
263,826
2,896,I>Wt
l,675,2't5
l,118,6Ui
921,671
921, "57
177,623
1,067,059
350, U56
3't5.5'»3
58,699
20,189
12,609
191
3.376,682
26lk,lH7
1,617,1*56
l.T?"*
2,879
10,190,793
1,T7"»
2,387,9'^
236,352
9T9
l«,067
388,85>t
9,969
9,777
3,075,9'«3
3,oio,8it6
1.77'»
By borrowings, capital and surplus subscriptions,
and appropriations:
Borrowings:
Proa n. S. Treasury
Proa other Oovemaent corporations and
agenciee
Proa the pnbl Ic
Coital and surplus subscriptions:
By n. 3. Treasury
By others
Cancellation of notes to U. S. Treasury
General Pund appropriations - expended
Other
Total borrowings, capital and surplus subscriptions, and appropriations
By decrease in working capital and deferred iteas.
Other funds provided
Total funds provided.
1,352,700
209,907
929,2lio
325,188
33,759
921,1157
30,751
3,803,002
2311,187
66,815
10.190.793
1.77'»
laaka
for eooperatlToi
Fadaral
Intoraadlate
cradlt banka
Pedaral
land
bank!
y
September 1947
67
Corporations and Certain Other Agencies of the United States Govenunent
Section III
-
-
(Continued)
Sources and Application of Funds for the Nine Months Bnded March 31, 1047
Table 2.- Corporations
-
(Continued)
(In thouauli of lella^a)
-
(Continued)
68
Treasury Bulletin
Corporations and Certain Other Agencies of the United States Government - (Continued)
Section III
-
Sources and Application of Funds for the Nine Months Ended March 31, 1047
Table 2.- Corporations - (Continued)
(In thoaeandi of dollart)
-
(Continued)
September 1947
69
Corporations and Certain Other Agencies of the United States Government
Section III
-
-
(Continued)
Sources and Application of Funds for the Nine Months Ended March 31, 1947
Table 2.- Corporations - (Continued)
(Xa tbotuaad* of dollar*)
-
(Continued)
Treasury Bulletin
70
Corporations and Certain Other Agenclee of the United States Government
Section III
-
-
(Continued)
Sources and Application of Funds for the Nine Months Ended March 31, 1©47
Table 2.- Corporations
-
(Continued)
-
(Continued)
t
71
September 1947
Corporations and Certain Other Agencies of the United States Government
Section III
-
-
(Continued)
Sources and Application of Funds for the Nine Months Ended March 31,
1M7
(Continued!
-
Table 3.- Certain Other Agencies
(la thousands of dollar*)
Departmeat of
Agriculture
Hatlonal
Houtlng
UBltad States
Marttlaa
Ag""!:/
Coaffllsllon
Tam
Credit
AdntalatratloQ
Agricultural
Markstlnc
Departneat
Vorki
Rome
Xleetrl of the
Agency
AdffllalB- fl cat Ion Interior
15/
tratloo A4iBlalB- lit/
tratlon
Famera' Rural
Act
BaTolTlofi
Othsr
Dnltsd
F«d0r&l
States
HouBlag Marl Ids
Adnlnla- ComlS"
tratloa
sioD aetlTltles
Var
Shlpplas
AdulnlatratloD
il/
actintlss 16/
fund
funds Appllsd
To acquisition of assets:
Loans made
Purchase of InTestosnts:
Public debt obligations of Unltad States.
Other securities
Purchases, construction or inproTsaents of
fixed assets
Costs of acquiring collateral oa defaulted
loans
Other
Total acquisition of assets
73, '•11
127,Ol»3
979
231
2,1*98,912
6,337
18.500
3,067,225
3
367,032
2,0'*9
7,668
197
2,00l»
19
139
622
Hi
105,7'*0
1,820
256,603
860
118
'•,79612/
78
77,5't3
127,063
1.U7
853
29,677
105.7'*0
1.820
5.823,717
15.33'*
9.1*5
598
8,219
11,520
67,'«19
1,031,180
62,881
105,805
1,001
97.573
8,232
58,951
U.823
7li
273
8,867
19
5
1.1*15
983
1,206,195
and
distribution of surplus;
Repayment of borrowings:
To U. S. Treasury
To other OoYemnent corporations and
agencl es
To the public
BepnyBent of capital and surplus:
To U. S. Treasury
To others
(r«aeral Fund
975
18,500
3,067,228
6,168,513
To expenses (sxcludlog depreciation and othar
charges Dot requiring funds)
To rstlraaent of borrowings and capital,
2,707,888
20.806
20,806
1,001
1,091
30,000
1
revenues - deposit of earnings..
DlTldends
Other distribution of surplus
Total retlrenent of borrowings and capital,
and distribution of surplus
To Increase in working capital and deferred Itaas
Other funds applied
Total funds applied
13,818
I
80,199
2,79''
78,760
2,79'*
102.1<01
269,557
8.325
3l8,'t5U
1»,508
86,8>tl
2
278
l*,885
30,000
113,385
2,696
1'K).993
170.257
8,0119,561
983
195,278
lUs,9l*2
1.991*
19,35'*
'•8,779
1,283,085
921,671
I. '•93
80,333
9,768
1.071
5.958
2.779
2'*,935
6l.90«
198,093
1,265,897
6,170,21*0
Funds ProTlded
By realisation of assets:
Repayaents on loans:
By cash
By cancellation of corporation aotas
Seles or collections of Investnents:
Public debt obligations of United States.
Other securities
Sales of flxsd assets
Sales of acquired security or collateral
Other
Total realisation of assets
By Incoae
1,179,580
921.671
U76
237 .oMg
12.995
232
133
2, '•55, 508
1.626
85,556
9,77'*
1.071
l,068,9l«7
"•9
12.111*
7,262
505
51,075
125,000
2.909
3.1*25
150,903
62,037
U72
17.768
839
15
1.712
10,312
86
51
100
8.867
13.126
153,106
62.037
2, 120, 31^5
I, '•15
31,25'*
3.820
839.865
172.662
By borrowings, capital and surplus subscriptions,
and appropriations:
Borrowings:
Proa OoTemaent corporations and
agencies
from the public
Capital and surplus subscriptions!
By U. S. Treasury
By others
General fund appropriations - expended
Other
Total borrowings, capital and surplus subscriptions, and appropriations
By decrease In working capital and deferred Itens
Other funds proTlded
Total funds provided
Hote:
See page 7? for footnotes.
228,359
909
3,'i90
11.068,622
-692
19,821
6.906
166
9,053
lt,300,l»71
-692
70,896
131.906
166
9.053
215,710
17.787
8,921*
8.92I*
8,01*9,561
51.375
3,'^90
983
195,278
",399
250
lll8,9l»2
1,991*
-15*,085
363.996
3,823,i^57
.15U,085
363.996
3,8711,832
2.1t01
195.252
19,35'*
'*8.779
198.093
1.265,897
6,170,21*0
ly
Treasury Bulletin
72
Corporations and Certain Other Agencies of the United States Government
-
(Continued)
Footnotes to Section II
r
*
1/
2/
^
k/
Revised.
Less than $300.
Represents excess of expenses and includes surplus reserTes as well
a3 unreserved surplna or deficit.
This figure differs from that shovn In the Balance Sheet because
deficits of $176, ?69 thousand and $578, UUo thousand for ftnergeacy
Crop and feed Loan ActlTltles and farm Securltj Admlalstratlon respectively are Included in this statement.
Statement has been constructed hy the Treasury Department to five
effect to net costs of realization on liquidation of corporation by
H.F.C. pursuant to S.O. 9665, dated December 3J, 19^5Includes the federal Land Banks of Springfield. Mass., Baltimore,
Md., Columbia, S. C, LoulsTllle, Ky.
Hew Orleans, La., St. Louis,
Ho., Omaha, Mebr., Wichita, Eans.. Houston, Tex-, Berkeley, Calif.,
and Spokane, Vaah., which have retired the capital stock and paidin surplus previously held by the United States OoTenuiient
Figures are as of February 28, I9U7, the latest available.
Represents administrative expenses paid from General Fund approprlatlons
Represents deposit in miscellaneous receipts of the Treasury Cepartment
Figures are for the six months ended December 31, 19**6, the latest
aval lable
Consists of Institute of Inter-Amerl can Affairs, Institute of
Inter-American Transportation. Inter-Aoerlcan Xducational Foundation,
Inc., Inter-American Navigation Corporation (llqtiidated
February 25, I9U7), and Prenclnradlo, Inc.
Corporation was dissolved by decree of the Superior Court of the
State of Vashlngton on December 12, 19^6Represents sales contract transferred to War Department for liquidation and ultimate deposit of cash proceeds to miscellaneous receipts
of the Treasury Department.
By action of the Board of Directors of B.F.C., effective as of
,
5/
0/
2/
g/
2,/
10/
11/
12/
]JJ/
lU/
15/
1^
12/
18/
1^/
20/
H/
July 1, 19^6, all assets and liabilities of fiubber Development
Corporation were transferred to H.F.C.
Figures represent activities under the U. S. Housing Act, as
amended.
War housing and other operations of the Authority are reflected In the classification "Other* in Table 3 of this section.
The net Income from power operations has been reduced by the net
outloy of $10,078,821.26 for nonincome producing programs such at
flood control, navigation and experimental projects.
Changes in surplus reserves do not reflect the changes in Balance
Sheet surplus reserves since transfers from other sources than unreserved surplus have been made.
Created pursuant to Public Law 751, approved August 1**. I9U6.
Consists of Indian Loans and Puerto Rico Reconstruction Administration. Puerto Rlcan Hurricane Belief Loan Section ceased to
exist June 30, I9U6.
Consists of Bureau of Connxinlty Facilities and Public Works Administration.
Figures are as of February 28, 19^7, with exception of those of
lend-lease and UNHRA activities.
Consists of Federal Public Housing Aathorlty - Homes conversion program, Farm Security A^inistration program, Public war housing program, and Veterans' re-use housing program; Federal Security Agency
- loans to students; Havy Department - guaranteed loans (World
War II) and sale of surplus supplies (World War I): Treasury Department - miscellaneous loans and certain other assets; War Department
- guaranteed loans (World War II); Veterans' Canteen Service
created pursuant to Public Law 636, approved August 7, 19^: *^d
data for the first four months of fiscal year 19^7 for Farm Security
Administration and kergenc^ Crop and Feed Loans activities which
were transferred to Farmers' Home Administration Vovemher 1, 19^6.
Includes $75^,709,6l3-l6 deficit of ftoergency Crop and Fbed Loans
acttvities and Feurm Security Administration, which deficit was not
aseuflwd I7 Farmers' Home Administration.
Footnotes to Section III
•
1/
3/
^
Less than $500.
Includes $3,067,?25 thousand representing purchases of stock in the
International Bank for Reconstruction and Development and subscriptions to the International Monetary ^ind.
Statement has been constructed by the Treasury Department to give
effect to liquidation activities by H.F.C. pursuant to B.O. 9665,
dated December 27, 19^5Includes the Federal Land Banks of Springfield, Mass., Baltimore,
Md., Columbia, S. C.
Louisville, Ky.
New Orleans, La., St- Louis,
Mo., Omaha, Nebr., Wichita, Kans., Houston, Tex., Berkeley, Calif.,
and Spokane, Wash., which have retired the capital stock and paidin surplus previously held by the United States Oonrnment.
Figures are as of February 26, 19^*7, the latest available.
Flgixres are for the six months ended December 31, 19^6, tbe latest
available
Consists' of Institute of Inter-American Affairs, Institute of
Inter-Aaierlcan Transportation', Inter-Ajuerlcan Xducational Foundation,
Inc., Inter-American Navigation Corporation, (liquidated
February 25, 19^*7), and Prenclnradlo, Inc.
Corporation was dissolved by decree of the Superior Court of the
State of Washington on December 12, I9U6.
Includes transactions in guaranteed loans held by lending agencies.
Represents $W46,890.OO deposits of excess funds pursuant to Public
Law 391, approved May 27, I9U6, and $66,197.68 deposits of remaining funds of Inter-American Navigation Corporation.
Represents sales contract transferred to War Department for liquidation and ultimate deposit of cash proceeds to miscellaneous receipts of the Treasury Department.
By action of the Board of Directors of R.F.C., effective as of
,
U/
5/
6/
2/
S/
2/
10/
11/
IS/
,
15/
16/
12/
18/
July 1, I9U6, all assets and liabilitiei of finbber Bavelopnent
Corporation were transferred to R.F.C.
Figures represent activities under T7. S. Housing Act, as amended.
War housing and other operations of the Authority are reflected In
the claeelflcatlon "Other" in Table 5 of this section.
Created pursuant to Public Law 731, approved August lU, 19U6.
Consists of Indian Loene and Puerto Rico Reconstruction AdministraPuerto Rlcan Hurricane Relief I«an Section ceased to exist
tion.
June 50, 19U6.
Consists of Bureau of Cosmrunlty Facilities and Public Works Administration.
Figures are as of February 28, 19^*7, with exception of those of
lend-lease and UNRRA activities.
Consists of Federal Public Housing Authority - Hoaei conversion
progreoD, Farm Security Admlnlctrntion program, Public war housing
program, and Veterans' re-use housing pro-am; Federed Security
Agency - loans to students; Navy Etopartment - guaranteed loans
(World War II) and sale of surplus supplies (World War I); Treasiiry
Department - mlscellaneouB loans and certain other assets; War Department - guaranteed loans (World War II); Veterans' Canteen
Service created pursuant to Public Law 636, approved August 7,
I9U6; and data for the first four months of fiscal year 191*7 for
Farm Security Administr^^tlon and Aoergency Crop and Feed Loans
activities which were transferred to Farmers' Home Administration
November 1, I9U6.
Represents t2,lh^,J3^ thousand subscription to the International
Monetary Fund and $317,500 thousand purchase of stock in the International Bank for Beconstruction and %velopment.
Represents value of property acquired under terms of insurance.
I
73
September 1947
INTERNAL
REVENUE
STATISTICS
Treasury Bulletin
7^
Summary of Internal Revenue Collections
^
(In tboueanda of dollars)
fiscal year
or month
Total receipts from
Internal
revemie
(Ikily
Income and profits taxee
IdJOBtment
to
lUly
Treasury
Statement
Total
Internal
revenue
collect! one
Treasury
Statement)
Total
income
and
profits
taxes
Individual 2/
5,67U,318
5.101,231
+30,1*70
5,61*3,81*8
2,629,030
1,286,312
-1.133
5,162,361*
2,185,111*
1,028,831*
191*0
5,303,131*
19U1
7,361,675
12,993,118
-19,6J7
10,11*1
-36,797
1938
1939
191*2
Corporation
Income and
excess
profits
y
5.322,771
2,129,609
982,017
7.351,531*
3,1*71, 12(t
1,1*17.655
1.299,932
1,122,561
1,120,582
2,016,297
13,029,915
8,0O6,8gU
3,262,800
U, 687, 1*62
9, 581*, 715
lu, 629, 31*4
ftuployvent taxes
Miecellaneous
profits
taxes k/
1*2,786
33.71*0
27,010
37,172
56,621
Total
employment
taxes
Social Security
taxes
Old-a£B
Ineuranee
Onemployaent in-
5/
surance^
502,918
529,836
605,350
687,328
895,336
106,123
100,658
119,617
149,476
109,427
122, 04«
137,871
170,409
1,131,546
1,290,025
1.307,931
1,237,825
1,458,934
156,008
183.337
186,489
178,745
185,876
211,151
265,011
284,758
284,258
379,555
108 ,956
30,157
101,302
12,727
1,849
25,158
56,346
4,076
10,440
788
3,254
33,720
89,875
191*3
22,143,969
-22l*,755
1,565,1*77
101,661*
-361,585
22,368,721*
1*0,119,510
1*3,800,338
1*0,671,919
16,298,888
33,027,802
35,061,526
31,258,138
6.629,932
18,261,005
19, 031*, 313
18,70**, 536
15,883,235
137,1*52
11*3.978
191*6
987
1*3,902,002
1*0,310,333
12,l*62,U37
91,165
191*7
39.379.MO9
271,136
39.108,273
29,020,051*
19,31*3,297
9,621,271*
55,1*83
1,498,705
1,738,372
1.779,177
1,700,828
2,024,365
19l*7-Jnim«ry.
3,1*15,216
U, 271*, 1*61
-773,21*8
1*,
188,1*63
3.375.31*8
2,853.323
516,127
-131,083
U, 1*05,
51*1*
3.359,367
3,052,1*21*
30l*,oU5
5,898
2,898
367;'*3e
.43e
March...
5,1*1*6,121*
875,813
570,311
3,gW*,l0l*
2,0l(8,626
1,791,996
3,1*82
82,208
76.950
240,972
13.136
April...
2.309.306
2,729,891*
>U7
Jun* ....
2,578.li6l*
-U20,5gS
-271*, 757
729,620
1,661,992
1,685.223
1,101,038
294.039
232,127
3,992,776
1,958.399
1,920,555
2,550,605
2,368
3,204
2,436
131,186
331,960
97,622
123,856
287,800
6,959
191*5
riecal year
or month
1*.
2,853,221
3,263,156
1,1*1*7,131
8l*,2l*l
1/
742,660
740.429
833,521
925,856
1,185,362
191*1*
1*1, 68**,
Ballroad
retirement
90,267
101 167
,
75
September 1947
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years,
1932-1947
DOLLARS
DOLLARS-
DOLLARS
Billions
Billions
Individual
Income Taxes
22
20
le
10
1932
34
Alcohol ond Tobacco Toxes
Treasury Bulletin
76
Detailed Analysis of Internal Revenue Collections!/
(Za thoaiandB of dollars)
FlBCal jeari
TtP* of tax
Income and proflta taxaet
Individual:
Withheld 1)7 employerit
Oarrent Tax Payment Act of I943
B«Tenae lot of 19lf2
Othert
Oarrent
Back
19U6
^
^
Total IndlTldnal Incoae taxea
Corporation:
Income taxea:
Oarrent
Back
^
«,»*30,377
1*16.571
18,70U,536
3,901,917
738.032
SxcesB profits taxes (Second Berenae Aot of 19U0,
as amended)
Total corporation taxea
Miscellaneous profits taxes:
Declared Talne
Tlnson Act
Ihijust enrlohment
Total mlacellaneoua profits taxes
Total Income and profits taxea
BnploTBent tazest
Social Security taxes:
Old-a^ Insurance U/
tJnemploynent Insurance 2/
Total Social Security taxea
Ballroad retirement
9,857,U66
123
^
Total employment taxea
Hlecellaneous internal revaimAi
Capital stock tax
letate tax
01ft tax
Alcoholic beverage taxea:
Distilled spirits (laported, excise)
Distilled spirits (domestic, excise)
Distilled spirits rectification tax
Vines, cordials, etc. (imported, excise)
Vines, cordials, etc. (domestic, excise)
Brandy used for fortifying sweet vines (repealed
as of July 1, 191*0)
Sealers in distilled spirits; rectifiers; maimfacturers of stills (special taxes)
Stamps for distilled spirits Intended for export..
Case etempB for distilled spirits bottled in bond.
Container stamps
floor taxes
flermeated malt liquors
Brevere; dealers in malt liters (special taxes)..
Total alcoholic bevera^ te-xee
Tobacco taxeei
Cigars (large)
Cigars (small)
Cigarettes (large)
Cigarettes (aoall)
Sraiff
Tobacco (chewing and smoking)
Cigarette papers and tubee
Leaf dealer penalties, etc
Cigarette and cigar floor taxes
Total tobacco taxea
Stamp taxes:
Bonds, IsBusB of capital stock, deeds of conrey•noe, etc
tarinafers of capital stock and elmllar interest
sales
Playing cards
^
Silver bullion sales or transfers
Total stamp taxes
7-,822,U88
12,Ufe,U37
IS^I
Jtme
19U6
June
.
77
September 1947
Detailed Analysis of Internal Revenue Oolleetlonsl/- (Continued)
(In thouiande of dollart)
nsoal 7»&rs
Juna
19U6
S^p« of tax
19H€
Miscellaneous internal revenae (oontlnaed):
Kamifacturers' and retailers' excise taxes:lubricating oils
7^,602
()asollne
1*05,695
Tires and tubes
n.oor taxes on tires and tubes
intosoblle tmeka and Imses
Other automobiles and Dotorc7oles
Parts and accessories for automobiles
Electrical energT^
Sleotrlc, ^s, and oil appllanoss
Hectrlc ll^t bulbs and tubes
Xleotrlc signs (repealed as of ll/l/^)
Badlo sets, phonographs, ooaponents, etc
Phonoeraph records
Hualcal Inetrumenta
Mechanical refrigerators, alr-^onditionara, ato..
Matches
Tloor taxes on Batches
Business and store maohlnes
I^s - retailers' excise
Jewelry - retailers' excise
Ui«gace - retailers' excise (effectlre U/l/UH)...
Lavage - mamifscturers' excise (suspended as of
,
,
,
,
,
U/lM)
118,072
82,015
U33.676
17^,927
•
37.
iw
62,099
25.893
68,871
59.112
20lt,6gO
25>92
65,608
23,180
-17,781
56
13,385
3,902
2.839
99,932
63,011*
83
63,856
lO,^»^7
10,151
37,352
8,iH3
15,792
91.706
223,3^2
81,U23
236,615
8U,588
9.^
15
18
21,18U
125
7,878
Optical equipment (repealed as of ll/xA2)
Photographic apparatus
&bber articles (repealed as of ll/lAs)
Sporting goods
Vollet preparations - retailers' axclsa
Vashlng machines (repealed as of ll/lAs)
Tlrearae, shells and cartridges
Pistols and reTolTsrs
Bepealed taxes not listed abora
95,57**
25,183
97,lt81
15
36,163
20
17,0^
95,5*2
1
5,232
61
25
Total manufacturers' and retailers' axolae taxes.
Miscellaneous taxes:
Bituminous Goal Act of 1937 (expired 8/23A3).>Sogar Act of 1937
Telephone, telegraph, radio, and oabla, leased
wires, ato
Local telephone senrloe
Transportation of oil by pipe line
Tronsportatlonof persons, seats, berths
Transportatlonof property (effective 12/l/hz)
Use of motor Tehlcles (repealed as of 6/3O/U6)
Use of boats (repealed as of 6/30A6)
Leases of safa-deposlt boxes
Admissions to theaters, oonoerti, etc
AdmlBsions to cabarets, roof gardens, ato
Olub dues and Initiation fsaa
Bowling alleys, pool tables, eto
Coin operated deTlces
Adnltarated and processed or renovated butter,
mixed flour J/, and filled cheese
Oleomargarine, Including special taxes
Barcotlcs, Including marihuana and special taxea
Coconut and other vegetable oils processed
National Tlraarms Act
All other, Including repealed taxes not listed
above
.
•
.
Total Blscallanaoua taxea
Total ml'scellaneous Internal revenue
19»*7
«
Total Internal revenue collections
Adjustment to Chlly Treasury Statement
Total receipts from Internal raremio (Bally Treasury
Statement)
•
l,UlU,7i7
9,031
3«U
17
Jane
19^7
78
MONETARY
STATISTICS
Treasury Bulletin
9
3
..
September 1947
5
79
Gold Assets and Liabilities of the Treasury
(In million* of dollar*)
liablUtlaa
Knd of ealondar
yaar or month
Sold aaaetf
Sold cortlfIcatei 1/
1937
1938
1939
12,760.0
lU. 511.2
I7.6UVI.
9.212.3
11.872.8
15.278.6
19W
2l.99't.5
19.825.''
19ltl
22.736.1
20.56U.8
I9U2
?o. 611.9
19UU
22.726.3
21.937.8
20.618.8
19'»5
20.061*.
17.91U.1
19U6
20.529.0
19U7-Januar7.
Tebniary.
Harcb
20,
19't3
20.130.0
Stablllfation
TuBd i/
y
Sold In
Oanaral fund
1,800.0
1,300.0
1,800.0
1,800.0
1,800.0
1.591.6
l.SOO.O
1,800.0
1.800.0
1,800.0
1,800.0
158. U
18. ''30.
156.0
156.0
156.0
156.0
156.0
18,675.8
19,162.0
19.269.9
156.0
156.0
156.0
1.800.0
116.5
1,012.0
1,036.6
18.''97.'*
20.!;62.6
Imhanga
156.0
156.0
156.0
)56.o
156.0
19.821.0
7'*!.
&old retarre
aealntt D. 3.
notea, etc. 2/
682. U
1*08.9
213.2
215.3
160.7
165.1*
19U.8
lUa.i*
April
20.77'«.l
MV
20.933.1
Jtme
2l,2«.5
19.58U.g
19.736.8
20.086.9
156.0
156.0
156.0
1.023.6
21,536.7
20,31*3.8
156.0
1,036.9
Jul/
'001
p
1/
p.
.
Dally Treasury Statement and Circulation Statement of United Stateo
Money.
Preliminary.
Comprliei (1) ^old eertlfloates held by the public and in Taderal
BeeerTO Banici; and (2) ffold certificate eredite In (a) the Oold
Certificate Tund - Board of OoTomora. federal Beeerre System,
2/
3/
U/
1.033.3
1.01*0.3
and (b) the Bedemption Tttnd - Toderal Easerre aotai.
Reeerve a^alnet United Statet notee and Treasury notes of I89O.
txcludas eold In active portion of Xxchan^e Stabllllatlon fund.
On Tobruary 26, I9U7 the United States subscription to the Intomatlonal Monetary fund vas paid from the Szchange Stabilisation Pund.
Treasury Gold Receipts
Monetary Stocks of Gold and Silver
(In millions of dollars at l35 per fine evBoe)
(In millions of dollars)
Treasury Bulletin
80
Comixsnents of Silver Monetary Stock
(In lllloni of dollar*)
SllTor hold iB Troaaurj
Sod of calendar
7«&r or BOQth
SocttrlDg allvvr
tnilllOD 2/
igw
938.8
1.137.6
1,298.2
1.398.1
19'»l
l,'t76.1
19UZ
19^}
516.2
520.0
520.1
703.9
911.2
1937
1938'
1939
l9Uit
ISltS
19't6
19U7.Janual7..
Tabruary.
March
^rll
Hay
Juna
July p.
Sourcai
p
•
1/
~2/
.
In (General Tiind
cartlflcsMs 1/
SllTor
SllTor
outilda
Treasury
Subsidiary
coin 2/
SllTor
dollar!
503-7
502.7
U99.0
U9U.6
UsU.l
Bullion for
racoinago U/
2
It
19-1
376.5
356. u
12-5
10.2
lU.O
.1
31.3.U
I.9I8.9
1.921-3
1.923-9
3142.9
1,925.6
Uzt.6
535-3
616.0
657-t
662.3
M.it
3
3
5
Uoo.li
3'»3.3
SilTor
dollars 1/
3.5
I468.3
1,913.1
1.915-5
1,917.0
Bullion
at coat 1/
628.2
551.8
185.6
93-1
15.8
15-9
18.8
3U3.0
93-6
93.lt
93-3
2,806.5
3.3'*-«
M.U
366.9
372.8
U8.1
52.5
63.0
U22.lt
5.
U,
•93-5
lt,2>tlt.S
5«7-3
68U.7
771-6
6U6.7
901.1
t,
96.8
117-5
137-5
150.1
150.3
150-3
150.5
900.2
900.3
900.6
3,517.2
3.519.6
3.522.5
78.8
it05.6
Subsidiary
coin 2/
Total
sllrar
at »1.29
par ounce
39't-l
790-2
060.0
317-6
"t.207-3
3,870.6
3.512-8
3,511*-2
92-7
91-9
150.6
151.0
151.5
903.0
901.1
902.8
3.525-9
3it2.o
19-6
21.6
19-8
3'n.o
19.
93-5
152.5
90U.T
3,532.9
3U2.6
93-
>t
3.52'i-9
3.525.7
sllrer lend-leased to foreipi gorernaents (see Annual leport of
the Secretary of the Treasury for eaounts).
Valued at II.38 per ounce.
Valued at $1.38 per ounce or at 11.29 per ounce according to
ehether the bullion Is held for reeoinage of subsidiary sllrer
coins or for recolnage of standard silrer dollare.
Dally Treasury Stataaent and Circulation Btateaent of Onltel
States Money.
Prelialnary.
Lass than $50,000.
Valued at 11.29 per ounce.
Includes silTer leased to Office of Defense Plants of the R.T.C.
Does not include
etc. (see Daily Treasury Stataaent for aaouAt).
Silver Production In the United States and Silver Accfulsltlon by Mints and Assay Offices^
(In lllions of ounces or dollars)
Calendar year
or aonth
Silier
production in
nuiUd States
Sllrer acquired by
levly ained doaestic
sllrer 2/
fflints
and assay officee
foreign silrer jj
Ouncee
1937
193«
1939
71.3
61.7
63.9
19110
igiti
68.3
19142
55.9
19't3
19Uti
Mo. 8
35-7
19't5
29-3
19116
21.
71.1
19lt7-January.
lebruary.
March
April
Mv
June
70.6
61.6
60.7
68.3
70.5
5U-6
U2.U
UO.l
U7.9
5.5
31*.
1*8.5
50.1
2U1.5
108. 7
355-1*
282.8
139-5
72.6
156.9
120.5
50.9
27.1
It. 3
6.0
312.2
U17.1
3'*3-3
208.0
1I13.I
163-3
199-1
160.6
99.U
77.2
llO.O
3.9
62.1
5.5
•
•
•
•
.9
.6
-9
.6
It.
9 h/
U.lijj/
3-9
U.9 U/
l».l»
2-5
3-7
3-3
2.7
1.8
2.0
2.U
1.6
1.8
2.7
1.8
2.0
2.U
1.6
1.8
2.7
3-9
2.7
2.7
2.7
1-9
2.U
2.7
2.7
2.I1
It
1.8
1.9
1.8
Annual figures co^ fron the Bureau of the Mint; aoothly figures
on U. 8. silrer production coae froa releases of the AMsrican
Bureau of Metal Statistics and will not agree with the annual
figures.
Less than 50,000 ounces or I5O.OOO.
Ibr iaforaation on silrer production in other countries froa 1933
through 19I1O or 19111, see "Treasury Bulletin" for August 191*3,
page 7I1.
Acquired at 61t.61l cente per fine ounce until April 9, 1935; at
71.11 cents per fine ounce froa that date until ^rll 23, 1935: at
2.
}/
U/
2.1*
77.57 eente per fine ounce froa ^ril 23, I935 to Deceaber 31, 1937;
at 61t.61t cente per fine ounce froa December 3I, 1937 to July 1,
1939: at 7I.II cents per fine ounce froa July 1, 1939 to July 2,
I9U6; end at 9O.5 cents per fine ounce since July 2. I9I16.
Acquired at rarious prices areraglng spproxiaately 51 cents per
o\ince.
U/
Includes 0.5 aillion ounces ralued at 71.11 cents per fine ounce
totalling 10.3 aillion, and U.k aillion ounces raluad at 90. 5 cents
per fine ounce totalling $lt.O aillion*
I
g
.
2
3
81
September 1947
Seigniorage on Silver
(CiaBalatlT« from J«saar7 1, 1935 ~ Zo mllllonfl of dollsri)
Sourcoo of oolgBlori^o on oilTer bullion roraiued Ij
Ind of "fl^r'^tr
jMir er menih
S«tCnlorac«
OB OOlftB
(•llTor «ad
minor)
Mlio. illT«r
(Insl. tllnr
bullion hold
Juno Ik,
1931*)
B««l7 mlnod
llTor
(Proo.
Boo. a, 1933)
Jttir Siiigitfi)
18.5
U8.7
16.
Ufi.l
lt«.7
19'K)
63.7
69.5
91.7
122.2
>»8.7
36.0
58.0
7U.9
87.3
87.6
igin
U2.1
19'»2
a>»5.T
>W.7
U8.7
19m.
191*5
299.6
362.3
629.5
19W
>«91.9
19U7-January.
Pebroary.
1935
193«
1937
1938
1939
1«.7
>W.7
1«.7
I«vl7 mlnod
•llTor (let
July 6. 1939
nnd
>).2
25.7
t«.3
63.6
65.3
U8.7
'«.7
'W.7
87.6
87.6
87.6
87.6
87.6
87.6
Maroh
'•93.9
>»95.5
>»98.2
i^rll
Kay
Juna
July
..'.'.'.
'.'...
Boureat
1/
elgnlorago on
SllTor PUTch&to let
of Juno 19,
193^
latlon&lliad
•llTor
(Proo. of
tag. g.WS'*)
226.2
302.7
366.7
3H.5
''57.7
3U.7
3U.7
3U.7
530,7
562.7
3l'.7
31*.
7
580.ll
3'».7
58U.3
58k.
3^.7
3^.7
65. i
58>t.3
3lt.7
65.5
66.5
701.6
832.1
3lt.7
67.1
67.8
68.3
832.1
832.1
832.1
3'».7
'W.7
87.6
87.6
87.6
502.2
506.0
508.8
U8.7
M«.7
'W.7
87.6
87.6
87.6
68.8
69.5
70.14
509-5
I8.7
87.6
70.9
'»8.7
Sally Traaaury Statamant.
Thaio Itama r«praa*nt tba dlffaranoa batvaan tba ooit ralua and
tha monatary ralua of lilTar bullion raraluad and hold to saoura
2/
Potantlal
total
••Icnloraca
on tllvor
reraluad
326.2
U22.1
508.1
616.0
705.6
759. >•
•llTor bullion
at eott In
Oanaral
hnd
27U.9
758.8
950.6
1,055.8
799.7
818.9
820.6
820.7
938.1
1,069.6
1,0»9.0
3^.7
1.070.2
1.070.9
3>t.7
1,071. It
161.7
160.9
159.1
832.1
832.1
832.1
3U.7
1.071.9
1.072.6
1.073.5
159.8
3»t.7
832.1
31.7
l,07'».O
156.1
3U.7
3>t.7
2/
l,0>t«.2
967.3
717.3
333.2
161.
157,'»
153.0
llvar eartlfleataa.
Tha flgoraa In thlt ooluan ara not euBulatlra; aa the aaount of
bullion hald chaagai, the potential aelsnloraca thereon chan^ee.
Treasury Bulletin
82
Money in Circulation
72
(1& Billions of dollars)
Paper aoney
Snd of fltcal
/ear or aoDth
Total
Boney Id
clrcula-
Total
paper
Boney
tlott 1/
Oold
certificates
81lT«r
certificate!
b.kbl
7.0U7
5,93't
6,Ug8
19I1O
7,gl4<
7.2>48
19U1
19l«
9,bl2
12.383
8,932
11.600
I7.tel
16.U92
21.U38
19113
19UI1
^U
22.
26. 7>^
28, 2U;
19''5
iSUi
19^1
Tobruorj.
March
^rll
»V
June
•
'
•
Jul; p..
Xnd of fiscal
/•ar or aontta
193«
1939
25.5l'l
26,9^5
63
1,230
1.U5U
1.582
l,7lU
59
1.75''
57
5k
52
50
U8
I.6I19
1,588
1,651
2.025
2.061
78
72
67
191*1
federal
Beserre
notes
federal
Beserre
Bank
notes
Hational
bank
notes
U,llU
U,U8U
5.163
6,68U
9,310
30
26
22
322
322
323
317
320
13.7>'7
58U
18,750
22,867
23,973
23,999
597
132
126
U6U
nU
I106
lOi
110
109
108
262
266
2ll8
300
317
217
186
165
150
139
20
X9
120
28,297
26,9l>2
28,262
28, 30U
28.230
26.925
26,966
26,886
U9
1.916
3O8
2l>,llU
119
1. 95''
3IU
U8
I.99U
2U.II6
23,999
lt2U
31lt
28,11U
28,261
26. 763
lt8
ue
U8
318
321
2, 061
320
23.853
23.953
23.999
UlU
UlO
2fl.297
26.910
26.9U2
2.022
2.070
I406
108
107
106
28.1U8
26,792
Us
2,033
31T
23.887
Uoo
106
Total
cola
Standard
sllnr
dollars
BabsidiaxT
silT*r
Jig
361
527
55«
599
680
783
19I40
United
States
notes
3/
1/
193«
1939
Treasury
notes
of 1690
ii6
Minor
coin
Monsy In
circulation
par eapl ta
(In dollars)
1I16
»'t9-77
155
53. 8U
59-'t6
19k
213
72.16
91-95
127.63
162.98
191.56
200.00
196.66 r
?"*
53
1)21
66
5o(
8U
103
125
lUO
610
700
8l*3
236
263
292
317
191*7
929
1,066
1,205
1.300
1.355
11*8
876
331
19lt;-Januar7..
1,337
l"*?
l!3W»
It?
327
327
328
197-80
Tabruazy.
March
86k
86U
«69
1.351
1.351
1.355
It?
873
195-79
ll)8
871*
II18
876
331
330
331
1.356
1U9
875
332
195-50
191(2
191*3
191*
191*5
191*6
i^irll
May
June
J\ily p.
.
11*7
(1) Circulation Stataaent of Onltad Statsa Monoyi and (2) Annual
Eaport of th« Sacratary of the Traaaury for I9I16, pa«ai 623-627.
Prellalnary.
Ravi sad.
y
Ixcludes (1) aooay held by the Treasury, (2) aooey held by or for
the account of the Federal Beserve Banks and their a^nts. and
(3) coin estlaated to be held outside the continental Units of
788
197- 76
196.92
196.1*9
196.66 r
the United States.
Includes paper currency held outside the
continental Halts of the United States.
Oold certificates were withdravn from circulation in 1933*
Treasury notes of 1890 in circulation are being oanoeled and
retired ^on receipt by the Treasury.
Federal Reserre Bank notes and National bank notes are coTOred
by deposits of lawful Boney and are in process of retiraaent.
September 1947
CAPITAL
AND
I
«3
MOVEMENTS BETWEEN THE UNITED STATES
FOREIGN COUNTRIES AND NET POSITION
IN FOREIGN CURRENCIES
Treasury Bulletin
81^
Capital Movements Between the United States and Foreign Countries
chapter
This
on
Capital
MoTements
betvaan tha
Section
contains
of Capital MoTeaente,
I
data
cipal types
of
position
net
Unitad States and Foreign Countries and Position In
Foreign Currencies Is divided Into four main groups.
banks
and
contracts and
regarding capital moTements by the prindata, and by years from 1935) »"* <"""-
These data are
by banks,
logical detail.
lated by
are
are
shown
separately.
bankers,
based on
reports filed eaoh month
throughout ths United
and brokers
The reports are collected, checked, and tabuthe twelve Federal Reserve Banks. The totals
then forwarded to the Treasury Department for con-
States.
solidation and publloatlon.
Section II supplies a geographic breakdown by
principal countries on a monthly basis. The total
capital moTsmants are given first and then the prin-
categories
of United States
outstanding foreign exchange
purchases and sales of foreign exchange,
their
both spot and forward.
the Historical Svuuiary,
rently by aonths.
Eaoh type of data Is then broken
down into Its ehlef oooponants in the same chrono-
cipal
foreign currencies
In
brokers,
Figures for
previous periods may be obtained from
the following sources:
In addition,
the total outstanding claims on and
this point,
liabilities to foreign oountrles are eaoh presented.
at
Supplement to tha 'Treasury Bulletin' on "Capital
Movements between tha United States and Foreign
Countries, Janusiry 19lt-2 through April 19'*5', for
details during that period.
Details with respect to capital movements and
short-term claims and liabilities are presented In Section III as of the latest month for which the data are
'Treasury Bulletin',
November 19't-5. for capital
movements, and position In foreign currencies by
months, 19i^2-19M-5.
available.
'Treasury Bulletins', March 19't2 and earlier, for
details covering years back to January 2, 1935.
The last group contains monthly data regarding tha
Section
I
-
Historical Summary
Table 1.- Net Capital Movement
(Xn thouaainds of dollara; nagatlT* figures Indicate a net outflow of capital
froffl
the United States)
Analytle of net capital aoTeoent in:
Calendar year
or Bontb
Het capital
oTeoent
Short- tera
banking funds
Broke ra^
balances
Transaction*
I
September 1947
85
Capital Movements Between the United States and Foreign Countries
Section
-
I
Historical Sumnary
-
(Continued)
(Continued)
Table 2.- Short-Term Clalns on and Liabilities to Foreigners as Reported
by Banks and Bankers in the United States
(Position at end of period in thoUBands of dollars)
Short-term claims
Payable
Xnd of calendAT
year or month
1935
1936
1937
1938
1939
I9I1O
(""c.
(Dec.
(Bee.
(Dec.
(Jan.
(Dec.
31.
3C,
1935)
1936)
29.
SB.
1937)....
1938)
3,
loltO)
31,
igltO)
Total
I9UI
19U8
19^3
I9IA
igus
19't6
19U6-July
August
September
In
T-oans to
foreign
currencies
foreign
banks
778,579
672. 61U
65U.990
626, 0U2
5O8.702
383.978
128,951
IUO.911
367,786
2't6.673
U7,o68
30.916
257.929
3'».387
325,691*
5'*,
392,766
708.253
U7,lt«9
152. '•37
150. ow*
66.7l'5
1*7. '»77
603
98,119
561. U16
581. "fJO
108. 706
Short-term liabilities
Po^-able in dollars
Payable In dollars
Total
161.263
96,726
116,917
165.521
173.238
115,118
1*88,365
1,301.11*2
977
385,636
310, U77
268,719
221.383
1.623.317
1.893,087
2,203,185
3.221.328
3.938.232
118,633
72,OUg
86,378
105, U2I
100, 267
319,639
202.085
3.678.518
l''3.709
137. 16U
236.539
231.730
275.991
216.171
2Ui,627
Net
short-term
liabilities
Payable
in
fore Ign
Deposits
of
foreigners
currencies
1,156,1*96
1,1*56.385
1'6,795
66,1*78
97,851
1,600,507
1,985,025
3.025.189
3.786.182
209.597
111*. 791
135.311
121.001
82,983
103,369
6c, 828
£.712,626
31.01*9
3. 551*. 251*
U, 205,
3.352.223
3.523.328
l»,13it.Ul2
19,677
13,893
17,911
21,6Ui
3.310,732
3.958.716
5, 371*,
i»,9C6.62l»
306,618
668,168
1,222,580
1,218.633
1,910.89s
25.51*6
6,1190.302
6,1*80.262
'.693,911
1.71*5,722
U0.629
5,772,009
1.81*2,517
25.1*15
u, 9'*". 71*5
1.790. 877
233.1*71
6.908,181
6,767,799
6,689.272
5,01*0,21*9
U,79lt,6lto
1,867.115
27.177
27.517
6.31*6.765
6.136,31*9
6,073,611*
961
''31*.
169,670
21*5,010
290,1*95
389
903
5,596,775
6, 883, 06a
356, 501
1*.
99,951*
522,563
950,703
1,238,097
1.577.11*3
5.116,971*
5,267,081
615.658
108,093
106. 196
October
November
December
602.716
6U2,6oo
708,253
103,518
96.977
98,119
272. 156
227,0l*2
6,679,1*78
1*.
91*6,
29't.69'*
250,929
6,690,996
1*.
81*3.776
1,702.781
1.815,968
29.736
31.252
319,639
290,1*95
6,1*80,262
1*.
693. 911
1,71*5,722
1*0.629
19U7-January
February
March
730,693
93. ''78
6.U73.699
360,719
388.555
8,ii76,qe8r
g,272,351r
U.gU4,6l8
1,723,106
3,581 ,1*0 6r
3,391, 699r
39,601
36.605
''32
78,720
72. 102
lt,7io,992
l». 858,
977
5,71*3,006
576
798.
313,213
315,137
337,775
321*. 002
75''.
36.031*
7,1*73,919 r
801,836
116, 9U3
2110,850
Wi,oU3
8,2i»i.qoo
'•,972,995
3,232,1169
36,1*36
7,lilio,061i
April
6,076.762
6,oU8,396
5,772,009
7,722,l'12r
SeTlsed.
Table 3.- Net Movement of Short-Term Banking Funds
(In thousands of dollars: negative figures indicate a net outflow of capital froa the United States)
Short-tero liabilities
Short-term claims
in
foreign
currencies
1937
1938
1939
(Jan.
1, 1936).
2, 1935-Jan.
(Jan.
2, 1936-Dec. 30, 1936).
(Dec. 31. 1936-Dec. 29, 1937).
(Dec, 30, 1137-Dec. 28, 1938).
(Dec. 29, 1938-Jan.
3, 191*0).
19I10
(Jan.
1935
1936
1*.
19lto-Dec. 31,
191*0),
19U1
191*2
191*3
19Ult
191*5
191*6
191*7
(Jan.
Total (Jan.
l-Apr. 30,
2, 1935-i^r.
19116-July
August
Sept ember
October
November
December
I9I+7 -January
February
March
April
iW)
30, 19U7)
361,360
70,119
228, 132
28.91*8
117,31*0
-1U,788
-11,526
2.393
83.299
12lt,72U
19.268
16.192
97.503
-11.256
-71,765
-63,072
1*09
I7.62I*
Payable In dollars
Payable in dollars
Payab lo
Calendar year
or month
Total
loans to
foreign
banks
-3,552
31.868
-20,191
-l*8,60ll
-7.717
Deposits
of
foreigners
136,780
53,039
1*9.31*1
75,159
Ul.758
631.1*69
587.33I1
358,023
269.770
300.020
333,1107
1113,622
37li,Wio
1.018.11*3
l,olio,l6li
716,901*
-259,711*
-I133.959
1*7,336
-3,1*71
58.120
-3,515
20,671
-11*, 330
6.51*5
1.179,3111
-20,216
-19,01*3
-32.506
105.607
620. 88U
220,576
583.205
15,933
19,298
60, 899
760.993
US5.870
Payable
in
foreign
currencies
Het
short-term
liabilities
6.333
19.683
37,802
992,829
l*,933
1*28. 11*2
11*3,119
-oU, go6
-16.971
20.386
328,968
20,520
-1*2,51*1
1.135.1*83
10
-29.779
-11.372
-5,102
8Ul,628
522
583.373
1,168,058
-11*. 3
185,617
385,365
55U,Ui2
1*.018
237.391*
-21*3.
3.730
11*8,591*
3.9t35
15.083
1,216.303
-733.909
7,111*
5. 151*
-75.31*0
220,359
1.279,375
-315,1*87
-50,630
-219,372
-1*5.1*35
-UlS.l*22
-268,351*
-93,5«3
-18,821*
78,789
-153.51*8
1,761,688
279.131*
l,Ug6,7l*7
-'*.193
1,668,105
278, 6U7
237,093
-llll,722
183,276
7,51*2.799
31*6,553
3,216,31*7
-20,101
7,821,l*U6
-50,392
-50,2li6
-8,303
8,157
296.171
-20,031*
613
1,897
i»,so9
-ltll,26l
-25,1*56
-ll)C-.3S2
22,1*56
-51,61*0
-3.699
1.762
156
-73,527
277. UlU
-9O.50U
-155,105
76,238
31*0
-112.735
-163,809
2.219
1.516
9.377
-28, 366
-276,387
-3U,203
8.
ll,
6.1*29
-5,1*72
-23.e87
-39.566
11,518
156,118
-103,185
-210.731*
-11*9,865
-22,638
-33.507
-36.717
-27,?36
2,003,289r
-2OU.637
96,925
-55,1*88
12,91*2
2,678
-39,S8U
-65.653
6,5111
3,835
-22.538
-l.lUS
-211.9U5
-22,WlO
-23,883
l*,6Ui
lli,758
-1.921*
-1*3,856
6,618
-3,1*01*
-lll*,8ltl
6,U26
-6, 513
-30,1151
17,131
11*7,985
-11*.
359
128,377
-3,91*7
692,265
-l6i»,
651
113, 137
-70,21*6
-22.616
l,858,300r
-139.707
-159,230
-1.023
-2.996
-571
li02
2U5,779
-160,
1*16
7.1*70
-28,957
1,079, lio6r
-2M3.U93
-33,855
Treasury Bulletin
86
Capital Movements Between the United States and Foreign Countries
Section
•
I
-
Historical Suimiary
-
-
(Continued)
(Continued)
Table 4.- Purchases and Sales of Long-Term Domestic Securities by Foreigners, ae Reported
by Banks, Brokers, and Dealers In the United States
'
do
thousands of dollars)
Domestic stocks
Calendar year
or month
1935-Jan.
I. 1936)
1936-Deo. 30, 1936)
1936-I>»<:- 29. 1937)
1937-Dec. 28. 1938)
1938-Jan.
3, 19I10)
U, 19U0->e. 31. 19MO)
Domestic bonds
Total
purchases
let domestic
stocks and
bonds
Total
sales
1935
1936
1937
(J»h(Jan.
2.
1,302,681*
2.
1938
1939
(Dec.
(Dec.
(Jan.
31.
30.
29.
2,68U,391
2.273.381
1.200,119
2. 083.
{!)•<:•
1.1112.923
57.196
-85,1*27
-2l*5.062
19I10
2eU,206
1,031*. 1*78
1.119.905
278,032
-56,216
506,022
751.0811
-222, 519
17'»,952
2111,388
-39.1136
20.895
-te.977
138, 51U
25,
70,711't
320.991
260,601
392,938
582,9116
2111.002
170,555
365.171
27.767
26e,2iiii
2115,311*
1*39.676
751. 0U5
210. 735
1.116.322
-188. 8U6
368.558
75,U88
iSltS
-97.
'•32
393.390
-15.673
650,1*11
637.9'»0
19>46
367.b't9
357.655
U32.109
l6U,218
2Ui,299
513.558
377.717
-6lt.it6o
i*lU,U70
6811,213
-269.71*3
782,119
70,676
107,726
-37,050
80. 137
90,915
-10,778
19U2
I9't3
191A
I9U7
(Jan.
l-Jifr.
Total (Jan.
2,
30, 19U7)
19't.6l6
171.1132
-3''.
579
1935-ipr. 30, I9U7)
70I1
198, 9tl
-1*7,828
1*16,696
MU
39.971
35. '•11
1*9.065
11*8,829
••9.398
-9.235
-108.858
-13.987
-13.863
31.959
25.167
-8,>«2U
16,U36
116,870
70lt
9,5'tO
36. TOU
-U.628
16,989
211,231
26,22ll
October
loTember
December
22.263
20,959
39.832
26.2I40
33.100
32.009
31.051
35.317
-2.217
itll,lt26
-12.1*17
30.8lt7
-3.977
-5,2ft
8,985
29.932
lg,Ui6
19.Wt5
29,l<65
-11,01*9
30.6511
19.757
l't.367
33.065
21,183
-13,620
-6,816
l6,liii2
18, Wig
2U,013
-5,565
19,7't5
I^bruary
March
April
n.a.
-113.105
203
-331*.
U, 780, 192
23.535
25,871
32.076
19'»7-J«nuary
1*6.599
150.813
August
S«ptaBb«r
26.223
-261.955
12,196.888
B.a.
19lt6-July
2l*l*,626
221,816
"•73.052
1U6,039
96.383
151.639
136.853
260,223
I9i»i
316,660
600,693
986.021*
698
2,028,755
-100,
-lU,69l
62,928
70,61*9
-6.191*
-17. 681
60,779
10. lOl*
61,557
1.119
55.363
52,968
70,883
1*9,070
32.7111
1*9,222
-152
2lt.37'i
10.897
-11,078
-18,5116
30. 809
57,139
56,171
-211.698
3U.986
11,796
7.91*9
38,193
35,809
2,381*
-25. 362
lot available.
Table 5.- Purchases and Sales of Long-Tera Foreign Securities by Foreigners, as Reported
by Banks, Brokers, and Dealers In the United States
(In thousands of dollars)
Foreign stocks
Calendar year
or month
Sales
1935-Jm- 1. 1936)
1936-Dec. 30, 1936)
31. 1936-Dec. 29, 1937)
Oc. 30, 1937-Dec. 28. 1938)
(Dec. 29, 1938-Jan.
3, 19«0)
1935
1936
1937
1938
1939
(Je^(Jan.
(Dec.
2.
n.a.
2.
n. a.
19110
(Jan.
U,
19110-Dec.
Ibreign bonds
31,
at
n.a.
n.a.
I9I1O)
Total
sales
661.256
896,119
1,016,188
182,809
561,236
205,289
536.098
705.073
719. 180
156.051
185,261
19111
191*2
23,278
26,601
37.328
191*?
191*1*
I9I5
191*
I9I1?
Total
purchases
(Jan.
Total (Jan.
l-*pr. 30, 19'l7)
,
3.187
1.523
-17,161
-363
11*6.367
65.2I17
19.791
22,078
51.789
65,610
25,''71
11,119
11.352
297,111
>*90,116
71.209
88,973
-29.156
265.190
205, oUg
92,363
2, 1935-*pr. 30, I9U7).
19ll6-July
lot available.
322,882
219.167
103,715
6,538,755
5,197.131
1,311,601
92,289
59.081
33.650
21.175
16.515
28,826
32.933
26.607
51,710
26.229
31. 571
6.386
265. 127
88,173
51.025
29.231
20, 7I6
113. 76U
16,869
26,035
75.626
62.176
2.552
2.217
3.531
2,073
1,767
2,166
51.537
57.197
52,129
30.381
21.390
18,209
21,156
32.807
3.920
61. 161
1,682
6.031
2.138
91.157
18,762
76.052
22,569
133.128
25.157
68.588
-81. 366
50.595
96,875
59.033
81,180
26,605
137.368
5.1128
1,036
1,210
3.290
28. 7I7
70.270
-78,335
52.733
1,051*
2,553
1.501
81,110
23,891
57,516
85,191
26,117
59,017
U.625
April
310.863
355.111
821,183
220. 533
169. 6I5
108,919
70, 891
55.266
October
lovember
December
Tebruary
Harch
51.703
-7.361
77.696
93.196
-16. 617
133.558
227.897
391. 919
217.367
102,058
556.056
-321
2.791
l*.732
19'17-January
127.133
125,158
191.076
267. 008
26.758
115.689
78.156
1.116
5.056
1,119
l*.8l*5
August
September
n.a.
311.262
318.113
755.936
372.158
225,289
317.269
115. 517
let foreign
stocks and
bonds
7.210
3.981*
5.997
5.
718
10,271
72?
59.162
58,126
.
. .
.
September 1947
87
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II
Summary by Countries
-
Table !•- Net Movement of Capital and of Short-Term Banking Funds
(In thouaand* of dollars; necatlTe flgorei Indieata a nat outflow of capital froa tho Onltad Stataa)
Set ca{>ltal aovaaant
Country
January
Burope
United KlngdoB.
Franca
Pebruary
-27, ''61
-15.^3
fielglia
7,267
-33,123
-16,10*
DaBBark.
rinland.
Oaraanj.
6.770
-831
-1,853
-l»,»l«
Oreaca
Italy
Luxaabourg.
-5,798
55,?18
-169
-979
Hatbarlandi.
Morvay
Portugal.
-7,305
-23,'»73
-6,2»*1
-9,702
6,128
-l,ltlt9
.
.
ftuaanla.
32
Spain...
Svadan.
3,253
-9,093
Svltt«rl«Bd.
7,602
236
-68,538
15,108
28,277
-16,528
-5,775
U23
5,828
-662
-5,599
5",lWi
-139
-g6U
-lt,018
-76,1.38
-93
-38,931
-1,376
10,099
135,08!
-3,87»
-l,9'»5
6,5""
-5,3't9
-830
1,137
6,02<
-3,588
-221
-9,025
3,192
-8,915
15,501
71,631
-190,007
-12,632
11
307
1,322
lU
-31,790
"35
-l",933
-11,020
-1,"83
-33,13"
-1,625
10,075
-75
1,328
-5,3"3
-787
i.iUa
5,836
8,881
67
782
1,1176
2,720
-82
658
58lt
-13,82U
13, "06
6,3"1
-1,920
936
3,675
-93,30^
190,288
81,056
-17", 160
-70,261
-110,229
-80,19'>
-88,287
-72,"58
-3",009
-110,505
-3,782
-1,199
-33,815
37,822
-2,96U
-56,979
ll«,0lt2
-1,933
",893
17,593
1,368
-3",371
-2,999
-1,237
-36,706
5,Wt2
-528
-872
86
1,169
l,lH9
-3,102
-10,38U
-879
-3,101
",690
1,"07
5.117
-721
35
-15,908
-333
-",323
-3,8"5
-1,0"3
-9,056
-2,3""
-2,675
662
-5,625
-1,720
-3.109
-3,7"l
-1,233
-2,515
-76b
^,617
2l,lt6b
-1,910
5,501
l,Uis
-35,06U
-3,163
-3,206
U,6ltit
l,U5i
-333
-«,375
-66,11U
1",636
28,835
-U,lllt
Total Btiropa.
Cuba
French Wait Indlae and Oula
Mexico
-29,896
-31,183
-16,3""
-",798
7,592
251
Othar >arop«.
Chlla
Caloabia. ...
Coeta Rlea..
22,565
-12,978
6,25"
6,708
-831
-1,832
-'«,375
-62
1,383
February
-3,Wt3
2,23»
9,335
67
733
-5,858
Latin Aaarlca
Argentina.
SollTla. ..
Bratil
January
-"•,627
7,296
-1,91«
936
3,613
Canada
-19, "toe
June
no
58U
13,291
S.
106,226
May
356
1,307
-5,
3,377
-81
S.
19"7
April
B...
0.
Short-t.rv teaklng funds
I9U7
-2,127
-1
-l.pUl
-2
162
9,663
-811
-13,811
66li
-8lt6
161
-",918
Netberlandi Vast Indlee and
Sorlnaa
Paaaaa
-2,711
-5,U«6
-1,700
-1,293
-3,765
-1,259
-1,372
267
-2"oW
Pam
Veneruela
Otber Latin Aaarlca.
-U,'t52
-2.053
-3,321
-1,175
7,768
-2,005
-2lt,180
ll.l»2»
11,128
-11,3"2
-2,211
-2,725
-2,276
Total Latin Aaerlca.
-7,63T
-35,1'*3
-1*6,867
-19,735
-6,617
-"8,1181
-5",010
Alia
China and Kanchurla.
Prench Inde-Chlna. .
Hon^ Kong
-23,503
2,169
-32,58«
-6,150
i,Uai
-21,775
3,092
-915
-8,51(0
-23,176
2,169
-",725
-31,962
-6,150
-20,9"2
1,010
-1,700
530
-5,237
-It, 076
-3011
71H
161
-19,702
-11,016
9,139
-"•,757
1,192
-61)2
587
3,102
l,"ii9
-9"6
1,"65
-1,708
526
-5,281
-297
1,030
-65"
-15,"58
-","23
-3,003
5,816
19,352
-1,201
-5,53"
India, fiuma, and Caylon.
-1,192
British Malaya
Japan
-«,W7
Hetherlaads last Indlae.
Philippine Islands
Turkey
Other Asia
-9,763
-6I10
3.''67
-15,651
6,139
-5,Wio
-it,)|lt8
-3,022
U,5i«
20,315
-1,238
-5,588
-U.it26
-9,759
-3,"98
6,109
-5,365
-lH,132
-61,238
-6,097
-37,77>t
-lW,152
-59,918
-",901
'»,70U
106
-Wt
-1,00«
-1,'»36
-7,103
1,125
1,191
1,762
12lt
-5,52"
1"7
-1,018
16,586
-Wi
-1,503
-19,262
1,125
1,177
595
Total Asia
Other countries
Australia
New Zealand
Igypt and Anglo- Egyptian Sudan.
Prench Korocco
Union of South Africa.
All other
Total other countrla
International
Unidentified
Orand total.
...
1,035
-no
-1135
-1.65'
-8.B»I
l.06»i
810
-606
-"too
1,0118
89I1
35,023
15
-52,892
8,'t93
-lt.«06
-181
1,339
-3,916
3",995
-5,855
-52,glt6
5 ,72't
-",565
-"33
8,"67
-219
3*,l«3
-58,262
2,919
-2,lt20
23,793
-"l,"78
-9,l"5
-U,g09 2,256,662
-11,809 2,256,662
1,333
-","53
321
-980
-2,97"
-1,766
37,«'W 1,806, lOU
-223,190
3",6"5
28,953 1,902,936
-1,76»
It,
It,
320
Treasury Bulletin
88
(Japitai Movements Between the United States and Foreign Countries
Section II
(Continued)
by Countries - (Continued)
- SuBBiary
Table 2.- Net Movement of Brokerage Balances, and Net Transactions by Foreigners
in Long-Tern Secaritles (Domestic and Foreign)
(In thousands of dollara: negative figures Indicate a net outflow of capltsd from the Ihited States or net sales by foreigners)
Brokera^ halances
Comtry
Tranaactlona
lay
foreigners In long-term securities
I9I+7
igHT
January
February
May
April
March,
January
rebruary
March
May
April
Burope
585
-181
Belgiuffl
12
-395
-2U1
Denmark
29
61
-2
-15
Ifelted Kingdom
France
Rnland
-Mo
Germany
Greece
Italy
Luxembourg
Netherlands
Korway
Portugal
fiumanla
Spain
Sveden
Switzerland
S. S. H
YugOBlaTla
Other lurope
13
-2,161
UlU
-151
166
108
-42
-3,080
1,254
1,850
-1,759
337
-52
5
33
-81
13
-15
30
19
8
-197
1,076
-56
-117
-10,100
-108
-8,513
-413
-66
-33
119
-g,SU2
-6,150
1,452
52
-7,182
365
-«,908
-8,726
29
-2
-2
26
12
-72
-2
-1*
-112
19
-95
-216
-229
12
-2.390
-13U
-18
1,385
-116
11
1
11
-Ul
3
35
-32
-12
162
-i
-75
3U8
l,6lU
6ltO
3
-1(0
IS
5^
2
82.
'»37
33
20
U.
Total Burope
Canada
-428
5
-363
58
-1(07
I,l40
2,506
7
37
-14
13
-2
58
-213
2
6
26
30
308
310
732
607
-1,160
6,739
1
2
7
-106
-3
-80
-9
-6,576
-993
-3l(,05l(
-7,739
-1,192
-1,798
3,688
-8,233
-lU,oU9
571
-393
-1,719
1,223
59,255
-75,837
33,030
58,5'»7
3,568
1,703
48
-518
1,583
24
3,378
3,734
183
469
Latin America
Ar^ntina
BollTla
Brazil
Chile
Colombia
Costa Rica
Cuba
French Vest Indies and Oulana..
Mexico
7
2,169
-2
-159
-1
-175
,366
lU
513
1,355
-3
2?7
-63
277
U2
-131
8U
-2
142
-3U5
-32
-192
2
26
258
-28
-10
-'^
1,008
369
-1
6,570
-lUO
1
-U.079
-31
7I?
13
809
88
19
261
139
-1
1
-163
ksz
27
72
-369
103
-71
30
23
-9
-3,791
38
-3
3,595
160
-12
-11
88
9l(
1,055
115
1
3,519
836
-62
Netherlands Vest Indies and
Siirlnam
Panama
Peru
23
-lU
-77?
-134
1,055
-20
Venezuela
Other Latin America
79
-377
-799
515
825
-III
-8
382
-189
535
203
586
59
1,000
Total Latin America
-3.1U
7,6W
-1,639
3,310
2,091
5,69'(
8,783
6,356
7M6
-228
-57U
3,319
-1,073
-398
-359
-10
-938
-3
-31
-491
Aala
China and Manchuria
French Indo-Chlna
Hoag Kong
Total Asia
Other countries
Australia
Hew 2«aland
Sgypt and Anglo-Sgyptian Sudan
31
36
-1*3
56
1(66
1
-10
-1
-1
826
-7
-718
-3
-35
53
UgU
-3
1
India, Burma, and Ceylon
British Malaya
Japan
Netherlande East Indies
Philippine Islands
Turkey
Other Asia
-7
8
7
,
-20i
12U
-I12
-5
293
l,5U8
6,536
-1,338
-1,489
-370
59
-46
-15
-3
10,273
-2
-16,478
-6
75
13,100
4,456
16
30
-172
-57
7
9
-2
-1
1
18
-83
-3
-9
83
-182
-U
-1,533
140
-l,o49
Total other countries
-79
-38
-1,600
10,469
-17,616
Grand total
2U
-3,335
6,201
6
-317
-35
French Morocco
Union of South Africa
All other
832
-7
7,171
30
-50
3
Unidentified.
87
-7
4
-1,297
137
-37
-107
-31
1
4
42!
-2,068
-P
11
330
8
105
32
-2
34
183
'(,737
3
7,069
70,118
-103,033
37,371
61,431
.
89
September 1947
Capital Movements Between the United States and Foreign Countries - (Continued)
Section II
Summary by Countries - (Continued)
-
Table 3.- Short-Term Claims on and Liabilities to Foreigners
(Position at end of month in thousands of dolipxs)
UaMlltles
igit?
Country
January
Surope
United Iln«doo
Ttance
Jehniary
March
igu?
May
April
June
January
February
March
April
1*8", "2"
50,533
9,896
7,075
39,356
12,988
7,373
35,770
15,639
8,019
"2. "25
21,125
8,863
"8", 35"
237.173
165, 3"9
""3.281
209,082
l"9.303
373.581
226,369
Belglujn
Denmark
rinland
Oermany
580
6,W»9
3'*5
6Jg
30,353
8,255
30,357
32"
7,106
30,371
73,307
21,6"0
5,275
68,302
28,909
5,531
62, "99
30,31*8
12,368
lU,87g
12,530
17,702
l4<
51
13,213
20,599
53
12,822
22,0"1
52
"3,729
320,99"
22, "51
"3,027
2"7,380
22, "68
136,558
3.669
860
153,683
155.768
lt,21lt
929
1,01*5
51.038
5,180
1,010
212,201
117, "36
"5. "15
21", 393
i»,oit3
8,929
19.785
16", 237
Qreece
Italy
luxeabourg
Ketherlands
Sorway
Portugal
ftineala
Spain
Sweden
7,33"*
5,560
Swit zerland
H
Tu£oslaTla
Other Europe
U.
S.
S.
Tot al Europe
Canada
Latin America
Argentina
SollTla
Brazil
l*,18lt
6,178
5,630
3.833
5,951
6,87"
3,7"2
7,110
12,205
11,376
8.291
19
10
7
13
7
ki.
11,651
15
It
377,217
60,395
12,9"8
103,385
178,781*
31.3"5
6,857
39.692
209,777
162,985
51,809
26,767
9,067
22,905
39,792
229,708
22,218
106,790
"",001
183.3""
105,336
5". 192
221,613
111.21"
52,151
8,851
19.957
159,06"
12.210
18.75"
165,221
11.313
18,135
157,289
38", 112
58, "79
392,16"
58,537
1",670
111,35"
397.201
60,016
15,238
108, "08
13,885
107,762
218, "87
9,5*
10,226
13,15"*
22.933
307,290
319,807
331,792
251.327
118,750
1*3,021
39,033
36, "35
855,920
816,182
701,689
627,502
U9,o62
2, 616
1*5, '*79
"*9,929
165,951
12,355
183, "19
179.961
13,680
157. 803
223, 0"7
2,963
69.583
57,821
",818
115.360
181, "12
2,573
63,109
12,333
127.571
11,71"
115,283
56|2"8
9,309
5^.35'*
2,"96,220 2,33",577 2,276,301 2,391.175
Chile
Colombia
Costa Hi ca
13,1'»7
29,90U
3, '07
15,259
30,155
3,696
15,979
26,835
"*,039
18,578
30,398
3.375
"6,180
50,962
7,3"6
"5.191
55,903
g,o"2
51,028
51,862
8.539
Cuba
Trench Vest Indies and Oolana.
Mexico
35, '•63
13
37,910
116
1*5,165
53,829
9
26,973
28,75"*
30,668
33.662
l"7,306
",87"
1"9,333
l"5.908
3,93"
1"2,058
150,819
3,990
139,05"
168, 0"9
11
922
1,603
5, "36
809
l,6g0
6,531
8I9
2,208
6,989
1,082
2,201
7,8"3
13.590
78,196
36,987
11,757
75,16"
3",3"1
10,53"
73,177
3", 031
10,6"1
71,000
35,939
Vene zuela
Other I<atin America
10,386
27,128
15,638
27,902
19.563
33,89"*
15, "19
37,285
51.5"9
183.791
"5, "59
182,35"
"6.659
186,070
186, "72
Total Latin America
260, UlU
279,611
308.61*5
381,680
'3,758
"6,989
22
",029
398, 6so
"2,l"6
39,235
359.731
35.95"
"0,781
3"3,230
39,056
38,919
339,056
33, "11
39,011
1",193
1.291
"2,513
8,773
17,165
"",221
7.08"
17.689
"0,670
36,100
8,282
18,886
117,387
""8 253
60,83"
88,536
116,627
122,896
"30, "9"
56, "98
1(1*7,13"
85,080
79, "20
Netherlands West Indies and
Surinam
Panama
Peru
Asia
China and Manchuria
French Indo-China
Hong Xong
36,801
l*l,2l*2
U,96U
5,061
U,llt5
12,665
518
2U7
12,908
537
ll*,638
Netherlands East Indies
Philippine Islands
Turkey
Other Asia
1,0511
25,28>t
9U«
22.983
1,U96
Tofal Asia
India, Burma, and Ceylon
British Malaya
Japan
Other countrlea
Australia
Hew Zealand
E^pt and Aaglo-£^ptlan Sudan
25
67
21*5
973
2U2
1,911
22,1*02
i»,0«2
glt.USl
85,01*6
83,883
98,051
",295
1,160
6,203
1,308
"38
6,510
1,517
"82
7. "55
1.312
378
"0,873
8,207
19,S"1
59.367
8.311
18,363
"0,"12
9,6"5
19,53"
15.961
82,5"5
73,772
16.855
33,903
70.238
16, "98
2"1,199
207.037
",51"
French Morocco
Union of South Africa
All other
13
13
10,1*60
3,1*3"
1U,66"
"."65
89
15,976
5.2"3
102
18.303
6,"15
Total other countries
19,775
27,091
29. 817
33.965
,
380
262
Unidentified.
730,693
75". 576
798, "32
801 836
,
«5,S3l
103,703
"38,862
65,36"
75,636
1,263, "92 1.19". 159 1,193.095 1.163,311
"68,912 2,725,57"
International
Ornnd total
7,223
18,716
1,1*01
2, "53
"9,399
1,131,839 1,102,555 1,077.579 1,121 ,"13
20,271
2,030
3.916
1,1109
",''95
3,23"
127, 6"2
16,117
20, "3"
6,"73,699
8, "00,518
"3,682
70,797
May
Treasury Bulletin
90
Capital Movements Between the United States and Foreign Countries
Section II
Sunnary by Countries
-
-
(Continued)
-
(Continued)
Table 4.- Fbrelgn Debit and Credit Balances In Brokerage Accounts
(Position at end of month In thousands of dollars)
Credit balances (due to foreigners)
Dehlt halanoes (due from foreigners)
Coiintry
19'^7
IS"*?
January
Tehruary
^rll
Maroh
Hey
June
January
Ittropa
1,135
221
129
Unit ad Elngdon.
France
BelfflQB
1,073
2,l»'»l
197
59
1,028
18U
llU
Caonarlc.
rial and.
1
1
11
1
1
Oarsany.
lU
19
15
2
18
Graeee
Italy
Luzaabourg.
105
23«
72
82>t
Swltzarland.
3.
3.
'•,059
3,5'*'«
6,708
i;6"9
6,753
1,805
91.
196
276
Ilk
2
266
111
28U
2
2
2
3
11
5'^
2
27l»
V
106
237
11
122
296
11
11
2
8
Rumania.
Spain..
Swedan.
9
75
1,252
68
l.'^63
May
U,852
6,186
1,793
2
22>t
J^rll
March
6,391
1,850
"•,329
2
292
2U
26U
785
2^^
861
23>t
11,093
1,535
29
8,691
1,387
10.089
11
25
10
2
67
5?
156
569
21>t
5110
25
195
695
550
1,191
35,167
35,9>»3
37.768
38,136
50
1.630
33
1.6^
1,700
53
1,620
973
Katharlandt.
Vorway
Portugal. ...
0.
3
7ebruary
880
l,28>t
11,099
1,283
57
R...
20
Tu^slaTla.
Other luropa.
.
2
Total Rtiropa.
Latin iaarlca
Argantlna.
BollTla.
Braiil.
Chlla
Colombia...
Coata Sloa.
Cuba
7ranch Wait Indlai and Oulana.
Maxlco
Netherlands Vaet Indlei and
Surinam
Panama
Peru
2.763
3,010
l»,819
3,077
64.IW2
62,931
65,751
66,697
>.527
5.3W»
'•,5'W
'•,586
7,2'^5
7,669
5,lt6
6,1115
1,175
1,161
1,608
1,03'»
1,65^
1,821
1,555
1,221
6,102
29
983
8,257
28
975
1,222
7t3
51
861
2Ul
723
"•70
U7lt
3'^5
619
2
3'*
3"
877
223
63
kt,
2l^8
281
111
6,179
6,200
6,358
1,552
2,637
3,006
5,188
.'°
2,'W5
1,53'»
2.2U2
6,118
13,083
13,289
13,260
>I0
k
106
87
29
181
88
238
6,870
239
270
6,167
'13'.
251
7,212
120
205
7,317
lUU
2,'^39
"•.•53
1,8>^1
2,08>»
'•,'•72
"•,573
1.6*3
2,201
1,696
l,96U
2,192
2,191
2,296
113
1,1"*
7,119
1
1
P
1,165
5lH
106
^1
2
9
116
81
Venezuela
Other Latin Aaarloa.
l,«;9
1,877
Total Latin Amerloa.
17,999
19,5'W
20,651
17,833
26,392
35,577
35,0't9
35, •'•I
3,ll02
3,509
IJ.lOl
2.530
1,628
1,507
1,525
2,273
151
l>|i|
175
128
27
61
63
3
3
3I
3i
37
27
6
1.087
13
12
1.181
508
It
1,30J
U
1
5
223
192
2UI1
202
2.617
3.165
3,263
3.2'A
3,220
100
6
133
98
159
12
132
lU
77
71
JLala
China and Manchuria.
Trench Indo-Chlna.
Hong Kong
.
India, Burma, and Ceylon.
Brl tl ih Malaya
76
33
30
Japan
Hatherlandi last Indlea.
Philippine Islanda
Turkey
Other Aila
Total Asia
863
52
955
23
i
U,32i
U,501
It,
189
Other countries
Australia
Hew Zealand
Xgypt and Anglo-lgyptlan Sudan..
Jrsnch Morooco
Union of South AfTloa.
All other
Total other countries.
152
29,705
32,5'^7
Grand total.
2
80
78
39
66
2,391
2,16;
78
67
629
'•3
1,886
2,775
2,616
1,028
99
99
28,156
103,2l»7
112,290
111,905
112,900
77
Osldantlf led
3'^,230
5
1,528
78
62
95
12
130
73
91
September 1947
Capl tal Movements Between the United States and Foreign Countries
Section III
-
-
(Continued)
Details for Month of April 1947
Table I.- Short-Term Claims on Foreigners as Reported by Banks
and Bankers in the United States
(Id thouaandt of dollars)
Treasury Bulletin
92
Capital Movements Between the United States and Foreign Countries
Section 111
-
Details for Month of April 1947
-
-
(Continued)
(Continued)
Table 2.- Short-Term Liabilities to Foreigners as Reported
by Banks and Bankers In the United States
93
September 1947
Capital Movements Between the United States and Foreign Countries
Section 111
-
Details for Month of April 1947
-
-
(Continued)
(Continued)
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners as Reported
by Banks, Brokers, and Dealers in the United States
(Zb tbouiandi of lollara)
9*+
Position In Foreign Currencies, by Countries
Table 1.- Net Position, and Current Transactions
(In thouBands of dollorB; negativ* figures Indicate ehort position}
Currency of
-
Treasury Bulletin
2-
Treas.
HJ
10
.A2
1947
C.2
U.S. Treasury Dept.
Treasury Bulletin
0031955
Knuwcr.i^nt
@FedFRASER