Full text of Treasury Bulletin : September 1956
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LIBRARY
ROOM 50?5
JAN 3 01958
TREASURY DEPARTMENT
LIBRARY
ROOM 5030
J UN 2 3 1972
TREASURY DEPARTMENT
TREASURY DEPARTMENT
FISCAL SERVICE. BUREAU OF ACCOUNTS
OFFICE OF THE COMMISSIONER
WASHINGTON 25, DC.
OFFICIAL BUSINESS
BUY
AND
HOLD
UNITED
S TAT E S
SAVINGS
BONDS
mEAsunw,
miiwrw
SEPTEMBER-I35B
UNITED STHTES TRERSURY DEPARTMENT
OFFICE
DF THE SECRETRRV
The Treasury Bulletin Is for sale by the
Superintendent of Documents,
U. 3. Government Printing Office, Washington 25, D. C.
Subscription per year $5.25 domestic, $5.25 foreign.
Single copy price varies.
September
19%
Table of Contents
Page
Treasury financing operations
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
6
Cash Income and outgo
Debt outstanding and Treasurer
10
'
s
account
Statutory debt limitation
Debt operations
United States savings bonds
Ownership of Federal securities
Treasury survey of ownership of Federal securities.
16
20
21
29
33
35
Market quotations on Treasury securities
4.3
Average yields of long-term bonds
46
Internal revenue collections
4g
Monetary statistics
R2
Capital movements
eg
Cumulative table of contents
£0
Note:
Where calculations have been made from unrounded
figures, the details may not check to the totals
shown.
Treasury Bulletin
II
Reporting Bases
Data on receipts,
The dally statement on the new basis
expenditures, and debt which
appear In the "Treasury bulletin" are based largely
on two Treasury financial reports, the "Dally Statement of the United States Treasury" and the "Monthly
I n tne
Issued for February 17* 195^*
was first
deposits and
withdrawals as shown, no distinction is made as to the
type of accounts (budget,
trust, etc.).
The deposits
Statement of Receipts and Expenditures of the United
States Government." Certain monetary statistics are
are on the basis of certificates of deposit cleared
baaed at least In part on the "Circulation Statement
of United States Money." Where these statements are
States.
given as sources for Individual tables, they are cited
Their respective reporting bases are
through the account of the Treasurer of the United
Total withdrawals are on the basis of checks
paid or cash disbursements made out of the Treasurer's
account. Some of the withdrawal classifications shown
by name only.
are reported on the basis of mailed reports of checks
For other data In the Bulletin,
information on sources or reporting bases is given
in connection with the tables themselves.
to the total of checks paid.
described below.
issued and are adjusted by means of clearing accounts
Except for relatively
minor amounts, noncash lnterfund and other lntragovemmontal transactions are excluded. The public debt
The monthly statement of reoelpts and expenditures was first published for February 195^. »hd
figures In the dally statement also are on a "clear-
replaced the daily statement ae the primary source
of Information on budget results and other receipt
and retirement transactions reported on the basis of
and expenditure data classified by type of account.
include noncash debt transactions.
At the same time, the dally statement was changed
to a statement of cash deposits and withdrawals af-
fecting the account of the Treasurer of the United
States. Both publications have provided comparative
figures on their respective bases from the beginning
ance" basis,
with the exception of those Issuance
telegrams from
Federal
Reserve Banks,
but
they
The daily statement before February 17, 195 *.
covered not only transactions cleared through the
1
Treasurer's account but also certain Government
agency transactions which were handled through
The announcement of
of the fiscal year 1953February 17, 195 *, with respect to these reporting
commercial bank accounts, and Included noncash lnter-
issue of the
provided information similar to that in the present
and other intragovernmental transactions.
1
changes may be found In the April 195
1
*
It
daily statement with respect to the statue of the
Treasurer's account, and similar to that in the
Bulletin.
present end-of -month dally statement w ith respeot
The monthly statement shows all receipts and
expenditures of the Government,
including those made
from cash accounts held outside the United States
The information Is complied from reports
by the Treasurer of the United States and by all
other collecting and disbursing agencies, including
those agencies which maintain checking accounts in
commercial banks. These reports cover transactions
Treasury.
to debt Issuance, retirement,
by type of account, and the budget results shown in
the dally statement were used as the basis for
reflecting the results under the President's budget
program as enacted by the Congress.
Receipts were on the basis of deposits as
recorded In the accounts of the agencies during the
reporting period. The net of the transactions as
compiled from these reports Is reconciled in the
monthly statement to changes In the balances in the
Treasurer's account and In cash held outside the
they cleared the Treasurer's account.
Expenditures
cleared through the Treasurer's account were re-
Through 19^6 they
were on the basis of checks paid by the Treasurer
ported on two successive bases.
of the United States.
Treasurer's account and changes in the public debt
outstanding.
and amount outstanding.
Receipts and expenditures, however, were classified
Beginning with 19^7 expenditures made through the facilities of the Treasury
,
Department's Division of Disbursement were on the
basis of checks issued, while certain others, prin-
Receipts of taxes and customs duties are re-
Other receipts are
ported on a collections basis.
cipally those of the Department of Defense and
Its
predecessor organizations, were on the basis of checks
reported partially on a collections basis and partially on a deposits basis. Expenditures, except
paid.
interest on the public debt, are reported on the
basis of checks issued or cash payments made by
disbursing officers. Transactions of an lnterfund
or lntra£Overrniental nature are Included on the same
debt and guaranteed securities, were as reported by
basis even though the actual Issuance of checks may
that time.
not be Involved.
Transactions handled through commercial bank
accounts, consisting of market transactions In public
the agencies.
Interest on the public debt was in-
cluded on a due and payable basis beginning with
November 19^ and on a checks-paid basis prior to
Interest on the public debt Is
Included on an accrual basis beginning with figures
The circulation statement reflects transactions
for June 1955 &h d the fiscal year 1955* Prior to
that, it was Included on a due and payable basis.
through the Treasurer's account which affect monetary
The sane reporting basis as that In the monthly
currency in the money supply of the country. It is
Issued later than the dally statement, however, and
statement provides the fiscal year flguret for the
Treasury's "Combined Statement of Receipts, Expenditures and Balances of the United State-. Government"
and for actual receipts and expenditures In the
"Budget of the United State.
.t."
,
stocks of gold and silver and the amounts of coin and
the figures are based on transact Ions consummated
during the reporting period even though some may not
have cleared through the Treasurer's account during
that period.
September
19%
A-l
Treasury Financing Operations
loans collateralized In whole or In part by the
Tax Certificate Offering
A cash offering of $3 billion, or thereabouts,
certificates subscribed for, to cover the
3
percent
of 2-3/4 percent tax anticipation certificates of
deposits required to be paid when subscriptions were
Indebtedness was announced by the Secretary of the
Treasury on August 3. The certificates are dated
August 15, 1956, and will mature March 22, 1957.
that no such loan was made was required on each sub-
They will be receivable at par plus accrued Interest
A certification that the bank had no beneficial In-
to maturity In payment of Income and profits taxes
terest In Its customers' subscriptions,
due on March 15,
1957-
The subscription books were
open for one day only, on August 6.
entered.
A certification by the subscribing bank
scription entered by It for account of Its customers.
own subscriptions,
Subscriptions received totaled more than
and that no
customers had any beneficial Interest In the bank's
also was required.
Those for
The new securities, designated Series B-1957,
Tax Anticipation Series, will bear Interest at the
rate of 2-3/4 percent per annum, payable with the
principal at maturity. They were Issued In bearer
$100,000 or less were allotted In full. Approximately
form only, In denominations of $1,000, $5, 000, $10,000,
Si, 0^5 million was allotted to nonbank subscribers
$100,000, and $1,000,000.
$10,613 million and allotments $3,221 million.
Sub-
scriptions in excess of 3100,000 were allotted
29 percent but not less than $100,000.
on original Issue.
Commercial banks, which for this purpose are
defined as banks accepting demand deposits, were
Cash Payoff of Bonds of 19 5^-59
The Secretary of the Treasury also announced
on August 3 that the Treasury would pay off In cash
permitted to subscribe for their own account without
on September 15,
deposit, but were restricted In each case to an
exempt 2-3/4 percent Treasury bonds of 1956-59
amount not exceeding the combined capital,
bonds, outstanding In the amount of $932 million, had
surplus,
and undivided profits of the subscribing bank.
payment of
3
A
195&,
tne issue of partially tax.
These
been called for redemption on May 14, 1956.
percent of the amount of certificates
subscribed for, not subject to withdrawal until after
Treasury Bills Refunded
Any
New Issues of weekly Treasury bills In August
commercial bank qualified as a depositary was per-
refunded the five 91-<3ay maturities In the equivalent
payment, was required on all other subscriptions.
Each new issue and each
mitted to make payment for the new certificates by
total of $8.0 billion.
credit In Its Treasury tax and loan account for not
maturity amounted to $1.6 tllllon.
more than SO percent of the amount of certificates
discount on the new Issues were 2.37& percent for
August 2; 2.399 percent for August 9; 2.603 percent
allotted to It for Itself and its customers up to the
amount for which It was qualified In excess of ex-
isting deposits.
Commercial banks and other lenders were requested to refrain from making unsecured loans or
Note:
Details of Treasury market financing operations are
shown eleevhere in this issue of the "Treasury
Bulletin," in the tables an "Offerings," "Allot-
Average rates of
for August 16; 2. SIS percent for August 23; and
2.S32 percent for August J.O. The new Issues consisted of four 91-^ay maturities and one 92-day
maturity dated August 23.
ments," and Disposition, " respectively, of marketable issues of bonds, notes, and certificates of indebtedness,
and in the table "Offerings of Treasury Bills."
:
: ...
September
19%
SUMMARY OF FEDERAL FISCAL OPERATIONS
(In millions of dollars)
Budget receipts and expenditures
Met
receipts
1/
Flcal years
19&5
1946
1947
1948
1949
1950
1951
1952
1953
195 *
44,4 75
39,771
39,786
11,188
37,696
36,495
ExpendltureB
2/
Surplus,
or
deficit
(-)
Net of
trust
account
Clearing
and other account
transetc. hj
actions
2/
98,1*16
60,1*48
-53,941
-20,676
39,032
33,069
39,507
75**
Ret
Increase
In
public
debt, or
decrease
Net
Increase in
Treasurer 1 b
account
balance , or
decrease (-)
Levels, end of period
Debt outstanding
Treasurer's
account
Public
balance
debt
C-)
8,419
-1,811
791
-524
-1,103
-294
-495
555
-507
366
99
679
147
435
328
483
-214
-401
-250
-303
4,587
-2,135
3,883
6,966
5,189
3,115
57,679
10,740
-11,136
-5,994
478
Guaranteed
securities
4,529
-10,460
-10,930
1,624
-1,462
24,698
l4,23e
3,308
4,932
3,470
258,682
269,422
258,286
252,292
252,770
2,047
1,839
5,517
7,357
6,969
4,670
6,766
257,357
255,222
259,105
266,071
271,260
20
29
-388
-2,299
2,096
6,216
6,546
274,374
272,751
268,671
26e,932
257,491
251,542
252,028
81
257,377
255,251
259,151
266,123
271,341
256,652
254,567
258,507
265,522
270,790
44
74
274,418
272,825
273,915
272,361
278,662 6/
256,981
252,854
257,160
288,559
258,554
256,127
252,057
256,413
256,731
259,461
267,445
275,244
278,784
280,822
256,026
258,794
266,821
874,671
278,256
280,348
278,463
278,209
274,080
277,949
277,697
273,571
276,686
277,515
274,418
276,179
277,010
273,915
277,626
278,352
277,524
277,143
277,872
277,045
279,866
280,189
280,822
279,388
279,713
280,348
73
27
1*7,568
1*1*
65,1*08
74,274
67,772
-3,122
3,510
-4,017
-9,449
-3,117
1955
1956 p
60,390
68,11*1
64,570
66,386
-4,180
1,754
231
-218
284
418
-1,623
-551
331
1957 (Est.)...
69,800
69,093
707
279
-180
-1,351
-546
6,000
271,400
-123
-1,386
-350
-229
-502
362
-240
199
234
47,484
-18,966
-2,249
-4,100
4,331
3,767
-22,502
-405
1,111
471
26,003
3,502
3,097
4,208
4,679
278,115
259,149
256,900
252,800
257,130
567
339
81
55
30
87
-106
-319
-209
-34
376
-423
-447
62
1,770
-1,488
603
4,232
2,711
7,973
7,777
3,582
2,019
-<=35
256,708
259,419
267,391
275,168
278,750
280,769
24
42
6,064
4,577
5,180
4,545
1
,058
Subject to
limitation
5/
259,115
269,898
258,376
252,366
252,798
1*33
476
90
61,391
64,625
6U.655
39,617
Total
Federal
securities
46
52
Calendar years
1945
10k6
1947
1948
1949
87,271
-1*3,594
38,568
1*1,080
^,512
1*0,389
1*0,861.
37,955
35,623
37,5H*
1*1,106
2,434
5,241
-3,592
37,306
52,979
64,840
37,728
56,337
70,682
72,997
1*3,678
1950
1951
1952
1953
195*
1955
63,81*1
61,171
63,358
64,851.
66,129
-422
-3,358
-5,842
-9,157
-3,683
-2,771
311
815
-41
101
739
-259
"*,295
51*
76
34
53
259,1*87
Months:
1955-January .
February.
March....
4,655
4,94a
1..831
332
-11
5,894
-287
596
3,846
-7
-186
354
36
-311
-257
-4,134
-451
682
-260
4,728
5,411
5,151
278,439
278,182
274,048
24
5,1*27
9,71*1
3,732
5,228
5,356
6,753
-1,496
-919
3,372
-164
-43
309
-69
131
2,601
824
-3,098
1,250
-522
336
6,401
5,880
6,216
276,649
277,472
274,374
37
-384
5,382
6,225
5,340
-2,617
-1,491
158
-234
-217
337
237
3,210
725
6,811
5,753
5,376
277,584
278,309
42
-833
595
-1,058
-378
277,1*76
48
-2,663
-510
-761
-213
33
-62
5,311*
319
632
-195
-574
1>,51»5
279,818
280,136
280,769
48
-1
473
-36
-444
2,31*1
l*,889
5,355
5,172
5,651
1956 -January..
l*,68l*
5,274
179
-720
6,195
11,313
"*,950
-590
1,245
5,914
-162
February.
March....
127
73
60
-1,293
1,504
-33
198
-3,764
2,316
April....
May
June p..
U, 082
5,050
11,576
5,387
5,467
6,783
-1,305
-417
236
-556
24
-408
941
-3,978
-1,360
548
"*,793
265
•
-120
3,1*85
5,542
-2,057
-172
-34
-105
April
May
June
2,765
October.
November.
December.
2,692
4,662
1/
4,73**
5,1*98
5,399
-74
-40
Actual figures through the fiscal year 1952 and the calendar
year 1953 are from the dally Treasury statement, and thereafter in
each case they are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page II); estimates are from the midyear review of the 1957
Budget, released August 28, 1956, Including expenditures from 1957
appropriations anticipated for later transmission to the Congress.
Gross receipts less trensfsrs of tax receipts to the Federal Old-Age
and Survivors Insurance Trust Fund and the Railroad Retirement
Account, and refunds of receipts.
Transactions of the Foreign Economic Cooperation Trust Fund , established under Section 114 (f) of the Economic exoneration Act of 1948
Begin(62 Stat. 150), are consolidated with budget expenditures.
ning with the fiscal year 1951, net investment by wholly owned
Government enterprises in public debt securities is excluded from
budget expenditures, and is Included with other such investment under
"Trust account and other transactions."
Consists of transactions of trust and deposit funds, investment by
Coverroent agencies In public debt securities, and redemption or sale
of obligations of Government agencies in the market; excess of recelpts, or expenditures (-). For detail of content, see page 6.
Source:
2/
10,125
July
August. .
September
July
1/
1*,1*38
4/
5_/
6/
•
p
5,119
27
33
1*3
44
1*3
53
53
3,252
4,756
7,072
280,049
280,108
276,31*5
58
59
280,102
280,167
276,404
279,630
279,696
275,935
287
5,712
6,259
6,546
275,789
276,729
272,751
56
62
74
275,845
276,791
272,825
275,378
276,326
272,361
-2,369
4,178
272,645
74
272,719
272,257
53
For checks outstanding, telegraphic reports from Federal Reserve Banks,
public debt Interest accrued and unpaid beginning with June and the
fiscal year 1955 (previously included from November 1?49 as interest
checks and coupons outstanding), and deposits In transit and cash held
outside the Treasury beginning with the fiscal year 1954; net increase,
or decrease (-).
For current month detail, see section on "Statutory Debt Limitation" in
each issue of the Bulletin. The limitations in effect during the period
covered by this table and the date when each became effective are ae
follows: June 9, 1944, $260 billion; April 3, 1945, $300 billion;
June 26, 1J46, $275 billion; August 2e, 1954, $28l billion (temporary
increase ending on June 30, 1956); and July 1, 1956, $278 billion
(temporary Increase ending on June 30, 1957). Guaranteed securities
Savings
are included under the limitation beginning April 3, 1945.
bonds are Included at current redemption value beginning June 26, 1946;
the debt
maturity
value.
In
at
were
included
that
they
time
prior to
outstanding, ssvings bonds are carried at current redemption value.
Immediate postwar debt peak of $279,764 million was on February 28,
1946.
Less than $500,000.
Preliminary.
Not available.
,,
Treasury Bulletin]
-BUDGET RECEIPTS AND EXPENDITURES.
f
Table 1.- Receipts by ^inclpal Sources
(In millions of dollars)
Internal revenue ±/
Employment taxes
Income and profits taxes
Fiscal rear
or month
individual
Corporation
For
old-age
Insurance
Income
withheld
Hot
withheld
2/
Total
aril
2/
profits
29
1*82
1,690
2,106
3,120
3,569
For rall- For unrosd re- employment
tirement Insurance
6/
5/
19"»9
19,61*1
9,81*2
1950
1951
1952
18,189
2U.218
32,826
33,012
10,073
13,535
18,521
21,351
28',263
10,71*7
21,635
53,906
*t,537
10,396
11,322
21,251*
2l*,015
1*9,915
56,631.
5,31*0
603
600
6,337
631.
59,000
6,500
3,515
4,987
10,772
163
61*6
1953
195".
1955
1956 P
,
21,523
18,265
21,297
1957 (Est.)..,
21,500
1956 -January.
February.
1*21*
March
37,500
939
3,732 10/
1,893
1*92
2,555
865
7,193
1,1*87
810
3,356
1,972
July
837
I.57
509
550
578
735
620
231.
Excise
taxes
Estate
and gift
taxes 2/
2/
8,3W
1*0,307
8,303
9, lei
9,726
10,825
51,106
65,635
70,171
5,te5
6,220
7,296
10,011*
91.5
9,211
936
1,171
660
305
7,1*65
17
85
32
512
51.
6
212
972
572
10,800 2/
799
21.1
567
973
15
l*
"»,713
91
2
10,652
51*9
51.
1
2,281
295
23
3,875
Internal
revenue
2,883
3,931
285
280
325
10/
Total
4-
"1,562
1*,086
Taxes not
othervlae
classified
2/
2,1.77
259
277
51,3"»7
5li,363
2,152
795 12/
769
1*60
8,109
April
May
June p...
37,753
223
226
561.
Total
employment 2/
"*,983
10,001*
39, "^9
9 8/
7
5
1,210
78
97
136
8W
826
70,300 8/
66,289
75,109
78,1*75
-2l»
"1,580
1
6,903
12,307
IM
586
1,067
6CA
750
877
851.
137
112
1
1
5,355
6,793
12,223
320
827
119
2*.
3,571
Deductions from budget receipts
MlscelFiscal year
or month
receipts
Total
budget
receipts
1/
19li9
1950
1951
1952
1953
384
2,082
l*2,77li
1*23
l,li39
"•1,311
621.
1,639
1,81*.
53,369
67,999
1,865
72,61*9
Transfers of tax receipts to
F0ASI
Trust Fund
1,690
2,106
3,120
3,569
U,086
Railroad
Retirement
Account 12/
6
2,838
2,160
2,107
2,302
3,118
603
599
3,3115
3,1*00
20
22
11
3,377
611,655
1*
3,653
3, "i26
3,68*.
60,390
23
3,900
69,800 2/
73,173
69,1*51*
5,0"*0
78,796
6,337
631*
1957 (Est.)..,
725
3,160
82,360
6,500
660
1956 -January.,
February,
March
59
57
59
275
198
133
"1,915
163
7,158
6-*6
12,1*99
512
17
85
5*
59
63
57
251
5,562
7,107
567
973
91
291*
12,57!!
5"*9
63
292
3,927
295
Apr: 1
May
June p.
July
.
11*7
"i,537
15/
10/
Source: Actual figures through 1952 are from the dally Treasury
statement and thereafter from the monthly statement of receipts
and expenditures of the Government (for explanation of reporting bases, soe page II); estimates are from the midyear review
of the 1957 Budget, released August 28, 1956.
For
further detail, see tables under "Internal Revenue Collections.
1/
2/ Breakdown was not mode In the dolly Treasury statement and the
monthly statement for years prior to 195"*.
i/ Beg i n n ing January 1951, the distribution of receipts between Individual Income taxes and old-age Insurance taxoe Is mode In accordance with provisions of Sec. 109 (a)(2) of the Social Security Act
Total
refunds
Internal
revenue
Net
budget
receipts
3
2,559
2,981
,
1"*/
17
16
15
18
17
2,3118/
,
Refunds of receipts
2,817
2,135
2,082
2,275
3,095
562
606
705
19511
I
550
550
575
738
620
551
613
1955
1956 P
ghvay
Trust
Fund ii/
B
1,500
8
9
9
37,696
36,li95
"•7,568
61,391
6"i,825
68,11*1
1*9
51
229
618
231
620
6,195
11,313
395
991
392
897
993
395
1»,082
5".
5,050
11,576
23
122
12 1*
3,1.85
15
I*
,681.
Amendments of 1950, for transfer to the Federal Old-Age and Survivors
Insurance Trust Fund (see footnote 11).
Taxes on employers and employees under the Federal Insurance Contributions Act, as amended (26 U.S.C. 11*00-11*32) and, beginning with the
taxable yoor 1951, tax on self -employed Individuals under the SelfEmployment Contributions Act (26 U.S.C. 1*80-1*82).
2/ Taxes on carriers and their employees under the Railroad Retirement
Tax Act (26 U.S.C. 1500-1538).
6/ Tax on employers of 8 or more under the Federal unemployment Tax Act,
as amended (26 U.S.C. l6O0-l6ll).
Remaining footnotes on page 5.
U/
a
..
,
September
19%
.BUDGET RECEIPTS AND EXPENDITURES.
Table 2.- Expenditures by Agencies
(In millions of dollars)
Fiscal year
Or mrmt.h
Legislative
branch
Judiciary
Executive
Office
of the
President
61
59
65
87
1953
195k
1955
1956 p
74,274
67,772
64,570
66,386
1957 (Est.)...
69,093 1/
y
27
28
30
37
Funds
appropriated
to the
President
9
9
9
10
161
Independent
offices
5,782
5,282
4,38l
4,4io
6,905 1/
6,1.73
1/
6,791
6,987 2/
General
Servioee
Administration
Housing
and Home
Finance
Agency
1,107
806
973
524
Agriculture
Department
385 2/
3,217
2,915
Commerce
Department
129 2/
37
5,191
1,063
1,000
1,077
1,281
615 2/
14,636
4,248
7,779
644
133
6,151
650
I956 -January.
February.
March...,
5,274
294
1.3
43
"1,950
21(0
532
595
5,399
464
33
29
-101
20
8
615
367
199
405
April....
May
June p . .
5,387
5,467
6,783
3*3
32
57
59
-4
1*73
886
616
676
632
14
252
436
152
July
5,542
429
1,028
39
87
218
106
1*99
y
Healthy
Education,
and
Defense Deportment
Fiscal year
or month
Military
functions
Civil
functions
Undiatributed Welfare
foreign
Department
transactions
1953
1954
1955
1956 p
1.3,611
813
40,336
35,532
35,548
605
548
1957 (Est.)...
36,000
651.
1956-January .
February,
March....
2,855
2,918
2,786
1*3
-44
39
37
21*
April
May
June p...
2,909
2,925
48
-49
1.7
3,^5
63
-6
-13
July
2,368
1.7
573
138
20
Interior
Department
Justice Labor
Depart- Department
ment
Post
Office
Department
5
82
£
y
Treasury Department
State
Department
District
of
Columbia
6/
Interest
On
On
public
debt 5/
refund
of taxes
271
1(12
659
312
356
457
214
424
495
178
17
16
16
72
19
19
12
69
13
625
12
553
42
1
61
lit
559
60
#
16
1,920
1,981
1,993
2,071
587
535
515
526
183
182
300
355
394
216
2,331*
61*6
200
164
151
1.5
171
35
43
156
136
138
6,504
6,382
6,370
6,792
74
83
62
54
7,1561/
798
873
12
13
368 1/
877
22
22
983
31
61
192
173
168
33
1*6
18
11
1
23
36
16
5*
8
25
39
50
-1
565
561
608
66
76
151
1
•
185
43
17
31
62
36
627
63
23
Source: Actual figures are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see
page H); estimates are from the midyear review of the 1957 Budget,
released August 28, 1956, including expenditures from 1957 appropriations anticipated for later transmission to the Congress.
Note: Figures in this table are for agencies as constituted at the time
the expenditures were made, and therefore do not necessarily represent
functions which are comparable over a period of time. For expenditures
by functions on a consistent basis, see Table 3.
Expenditures for Reconstruction Finance Corporation are Included under
1/
"Independent offices" through 1954, and under "Treasury Department,
Other" thereafter.
2/
V
5/
H
V
p
y
1
Expenditures for Federal Home Loan Bank Board are included under
"Housing and Home Finance Agency" through 1955, and under "Independent
offices" thereafter.
Total Inoludea reaerve for contingencies amounting to $200 million.
Beginning with the fiscal year 1957, expenditures for Federal-aid highways are excluded from budget expendituree and included in trust account
expenditures, see Table 1, footnote 13.
Effective June 30, 1955, interest on the public debt Is reported on
an accrual basis.
Consists of Federal payment and loans and advances.
Includes estimate of Interest on uninvested funds.
Preliminary.
:
.
Treasury Bulletin
.BUDGET RECEIPTS AND EXPENDITURES.
Table 3.- Expenditures by Functions, Fiscal Years 1953 to Date
(In mllllona of dollars)
195k
1953
1955
1956 P
Major national security:
051
052
053
054
055
056
057
058
059
Direction and coordination of defense
Air Force defense
Army defense
Naval defense
Other central defense actlrltlee
Development and control of atomic energy
Stockpiling and defense production expansion.
Military assistance
Direct forces support
Total major national security
International affairs and finance:
Conduct of foreign affairs
Economic and technical development 1/
Foreign information and exchange actlrltlee.
151
152
153
Total International affairs and finance.
Veterans' serrlcee and benefits:
Veterans' education and training 2/
Other reterans' readjusaasnt benefits l/. ........
Veterans' compensation and pensions
Veterans' Insurance and servicemen's Indemnities.
Veterans' hospitals and medical care
Other veterans ' services and administration
101
102
103
lot
105
106
15
15,085
l6,2k£
11,875
39 *
1,791
1,008
3,95k
1
211
212
213
214
215
216
217
Total labor and welfare
13
16,407
8,899
9,733
481
1,857
944
2,272
19
452
1,895
l,0k5
3,629
14
16,872
9,358
9,593
534
1,652
587
1,799
86
50,363
46,90k
40,626
40,495
150
1,960
106
130
1,511
91
121
1,960
100
120
1,588
111
2,216
1,732
2,181
1,819
659
138
2,U20
546
158
2,482
100
821
68
2,798
188
664
150
2,681
57
727
178
k,256
4,457
4,755
281
277
1,332
l,k39
290
328
1,428
275
321
56
115
475
l,k57
351
275
60
31
126
102
757
223
k,298
Total veterans' services and benefits.
Labor and velfare:
Labor and manpower
Public assistance
Promotion of public health
Promotion of education
General -purpose research, libraries, and mussums.
Correctional and penal institutions
Other velfare services and administration
12
15,668
12,910
11,293
318
288
36
27
144
782
271
35
26
lk7
28
105
788
176
2,426
2,k85
2,552
2,775
2,125
109
239
317
1*5
1,689
256
217
244
150
3,508
236
204
286
177
3,951
274
217
300
201
?,936
2,557
4,411
4,943
1,122
107
960
117
37
38
815
118
37
691
138
39
33
35
35
34
35
1,36k
1,220
1,081
992
567
572
239
659
k5
29
kl3
-111
135
51
12
1*6
586
275
312
37
-UOI
469
647
253
356
56
-115
-lk2
-330
-404
k5
38
527
784
251
457
30
30
17
-75
41
60
1_
42
12
56
14
2,612
909
1,622
2,131
k9
29
k9
29
60
31
77
38
11
442
185
11
12
55
lko
213
431
164
115
25
157
67
139
12
475
164
11*7
449
155
93
26
160
334
34
188
69
241
l,k7k
1,239
1,201
1,633
agriculture and agricultural reBOurcss:
Stabilisation of farm prices and farm Income 4/.
Financing farm ownership and operation 1/ 5/....
Financing rural electrification and telephones..
Conservation and development 1/
Research and other agricultural services l/
351
352
353
351*
355
Total agriculture and agricultural resources.
Natural resources
Conservation and
Conservation and
Conservation and
Conservation and
Recreational use
General resource
development of land and water 6/ jj .
development of forest resources
development of mineral resources....
development of fish and wildlife....
of natural resources
eurvsys and administration
lt01
1*02
404
It 05
l»09
Total natural resources
onmsrce and housing:
Promotion of water transportation 8/ 9_/
Provision of highways
Promotion of aviation
Postal service
Community development and facilities 12/ 11/.
Public housing programo 12/
Other aids to housing 12/11/
Other aids to business lm'lS/
Regulation of commerce and finance
Civil defense
Disaster Insurance, loans, and relief 16/....
511
512
513
51k
515
516
517
518
519
520
521
Total commerce and housing
General government:
Legislative functions
Judicial functions
Executive direction and management
Federal financial management
General property and records management
Central personnel management and employment coete
Civilian weather Bervlcea
Protective services and allsn control
Territories and possessions, and District of Columbia.
Other general government
Total general gover
38
3k
30
3k
1(03
601
602
603
60k
605
606
607
608
609
610
ent.
(Continued
387
28
on following page)
53
43
270
45
44
September 1956
.BUDGET RECEPTS AMD EXPENDITURES.
Table 3.- Expenditures by Functions, Fiscal Years 1953 to Date
(In millions of dollars)
Function
(Continued)
..
-
.
Treasury Bulletin
,
TRUST ACCOUNT AMD OTHEB TKANSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(In millions of dollars)
Fiscal year
or nonth
1914
1950
1951
1952
1953
Wet receipts, or
Trust and deposit fund accounts
expenditures (-)
account
froa trust
Expenditures
Net receipts, or
and other transReceipts
expenditures (-)
1/
actions
5,71k
6,669
7,796
8,807
8,929
3,821.2/
6,950
-2,311
3,9"»5
-3,557
-3,636
-3,301
2,386
991 3/
2,296
9,155
9,536
11,685
6,769
8,5*5 ll
9,389
-*95
,
195k
1955
1956 P
,
1,890
-281
3,852
3,855
3,760
99
679
147
*35
,
328
231
-218
Hot sale, or redemption
(-), of securities of
Government agencies In the
market
Hot Bole, or Investment
(-), by Government
agencies In public debt
securities %]
-7»
-22
ME
4,952
5,169
384
-72
-25
-4
-2,051.
-1,362 37
-2,687
y
602 3/
173
1957 (Est.)...
279
2,500
lit, 200
11,700
-2,463
242
1956-Jaouary.
February,
March
-162
127
371
1,009
757
901)
373
-i4o
-69
128
40
-2
-33
-533
139
-4
April
Mar
June p
265
-135
•
-120
936
833
871
1,605
1,616
1,006
669
353
-983
783
-1,004
*7
48
51
July
-172
83
1,112
1,029
-277
22
Source: Actual figures through 1952 are from the dally Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see
page II); estimates are from the midyear review of the 1957 Budget,
released August 28, 1956.
1/ Prior to 1951 net Investment In public debt securities by certain
trust accounts and by deposit fund accounts Is Included In trust and
deposit fund account expenditures and excluded from net Investment by
Goveiment-egencles (See Tables 3 and 4).
2/ Excludes Foreign Economic Cooperation Trust Fund (see page 1); recelpts were excluded In 1948.
870
761
3_/
4/
*
p
Under a revised classification In the monthly statement, effective
July 1, 1955, the security transactions of Government-sponsored
enterprises are Included In deposit fund account expenditures (net)
and excluded from net Investment by Government agencies In public debt
securities (see Table 4) and from net redemption or sale of obligations
Figures previously
of Goverment agencies In the market (see Table 5).
published for the fiscal year 1955 have been revised to the new classlcatlon basis.
Guaranteed securities Included beginning 1955 (see Table 4).
Lees than $500,000.
Preliminary.
Table 2.- Trust Account Receipts
(In millions of dollars)
National
Service
Life Insurance Fund
Government
Life
Insurance
Government
employees 1
retirement
funds
Federal Old -Age
and Survivors
Insurance Trust
Fund
Railroad
Retirement
Account
5,714
6,669
7,796
8,807
8,929
1,924
2,367
3,411
3,932
4,516
625
645
678
850
742
1,173
1,281
1,542
1,643
1,39*
690
1,076
684
786
637
92
87
86
87
79
680
809
850
912
961
529
403
545
597
401
1954
1955
1956 p
9,155
9,536
11,685
5,080
5,586
7,003
737
700
739
l,k92
619
590
649
78
78
74
691
708
1,025
457
449
466
1957 (Est.)..,
14,200
7,536
779
1,779
1956 -January..
February
March.
371
1,009
757
187
665
53k
18
86
55
42
40
157
17
38
37
April...
May
June p .
871
1,605
1,616
617
1,002
758
17
93
150
91
387
193
38
36
196
July
1,112
356
23
81
35
Fiscal year
or month
19*9
1950
1951
1952
1953
.
Source: See Table 1.
\J See "Budget Receipts and Expenditures," Table 1, footnote 13.
2/ Includes District of Columbia, receipts from taxes and from Federal
contributions, loans, and grants, Indian tribal funds; Increment
resulting from reduction In the weight of the gold dollar; and
through 1950 seigniorage on rllver under the Sliver Purchase Act of
193 *. Thereafter any such seigniorage Is Included with other
1
Unemployment
Trust Fund
1,^5
1,728
Fund
675
1,331
Highway
Trust
Other trust
accounts
Fund 1/
2/
1,500
600
26
54
33
26
61
50
51
56
249
55
28
25
563
50
seigniorage under budget receipts. Beginning with the fiscal year
1954, the Railroad Unemployment Insurance Administration Fund Is classified as a trust account, Instead of being handled through budget
accounts as formerly (see "Budget Receipts and Expenditures," Table 1,
footnote 7).
Preliminary.
,
-
..
'
September 1956
TRUST ACCOUNT AND OTHER TRANSACTIONS.
Table 3.- Trust and Deposit Fund Account Expenditures
(In millions of dollars; negative figures are excess of credits)
Trust accounts
Fiscal year
or month
1949
1950
1951
1952
1953
Total
1/
3,821.
3,9li5
3,1.10
6,851.
"*,139
4,952
5,169
5,298
5,698
6,769
7,327
8,51.5
8,1*89
9,389
9,199
6,950
,
1954
1955
1956 p
,
Total
trust
accounts 2/
5/
Federal Old -Age
and Survivors
Insurance Trust
Fund
Unemploy
ment
Trust
Fund
Railroad
Retirement
Account
661
278
1,311.
781.
301.
1,569
2,067
2,750
321
391
465
2,026
900
3,1*5
4,487
5,551
502
585
Government
Life
Insurance
National
Service Life
Insurance
Fund
Fund
61
Government
employees
retirement
funds
1,010
996
588
77
82
82
222
268
271
300
363
1,71.5
623
1">7
1*11
538
512
81.
1*30
611
1,965
1,393
1,01*9
348
2,988
111.
611.
Highway
Trust
Fund 1/
Other trust
accounts
526 57
370
387
1.13
1*1
495
399
538
507
1957 (Est.)...
11,700
6,550
692
1,603
1956 -January.
February.
March.. .
901.
793
448
<>3
50
886
832
"•55
153
152
163
42
870
761
50
50
51
1.5
1.3
133
1.9
1*6
1*8
1,006
669
783
812
806
766
48l
1.5
1.90
146
126
117
1.5
1.91
52
52
52
1,029
809
1*95
52
April
May
June p .
.
July
468
561
590
6/
1,150
42
11
46
33
37
7
1.3
10
1.7
1*1
1.7
1*3
Deposit fund accounts (net)
Fiscal year
or month
1949
1950
1951
1952
1953
Total deposit
fund accounts
1/
in*.
96
1951.
,
1955
1956 p
,
,
1957 (Est.)...
Total 2/
Investment in
public debt
securities
-8
-44
-19 *
-3*6 1±/
-529
-395
-120
-558
-437
1
,
Government-sponsored enterprises
1
%
2/
310
2/
12/
56 ig/
190
6/
6/
170
548
6/
1956 -January.
February.
March...,
111
-4
-16
-71
13
285
70
2
63
April...,
194
-137
18
-3
4
-11
49
-17
35
May
June p
July
.
.
1
220
Source: See Table 1.
1/ For security transactions included In expenditures prior to 1951 and
beginning 1955, see footnotes 2, 8, 10, and 12.
2/ Prior to 1951, Includes net investment in public debt securities by
certain accounts (see Table 4).
3/ See "Budget Receipts and Expenditures," Table 1, footnote 13.
5/ Includes District of Columbia operating expenditures, Indian tribal
funds, expenditures chargeable against Increment on gold, and trust
enterprise funds (net). The Railroad unemployment Insurance Administration Fund is included beginning with the fiscal year 1954 (see
Table 2, footnote 2), and the Federal Employees' Insurance Fund (net)
from its establishment in August 1954.
57 Excludes Foreign Economic Cooperation Trust Fund (see page 1); receipts were excluded In 1948.
6/ The combined estimate for "Other" trust accounts and all deposit fund
accounts is $553 million.
U
8/
2/
12/
Hj
12/
•
p
n.a.
Redemption of Government
agency obligations in
the market
H
97
J1
-269
-872
6/
Other
expenditures
Other deposit
fund accounts
-395
-120
422 10/
140 10/
-505
,
49 aj
-410
-437
99
331
-121
56
183
%
57
310
6/
-289
6/
115
-30
-50
-10
-51
-73
36
-28
-47
-38
197
-141
56
17
10
-42
218
-7
3
Prior to 1951, includes net investment in public debt securities by
certain agencies (see footnotes 8 and 10); beginning vlth 1955, Includes net security transactions of Government -sponsored enterprises
(see footnote 12).
Included in total of deposit fund account expenditures of Governmentsponsored enterprises.
Excluded from deposit fund account expenditures and included vlth
similar security transactions of other agencies, ahovn In Tables U
and 5.
Includes net investment in public debt securities.
Includes transactions by the Mr Force and the Army beginning 1952.
For revised classification of security transactions of Governmentsponsored enterprises, see Table 1, footnote 3>
Lees than $500,000.
Preliminary.
Not available.
...
'
Treasury Bullet in
(
TRUST ACCOUNT AND OTHER TRANSACTIONS.
Table 4.- Net Investment by Government Agencies in Public Debt Securities
(In millions of dollars; negative figures are excess of sales)
Trust accounts
Fiscal year
or month
Federal Old-Age
and Survivors
Insurance Trust
Fund
Total
trust
accounts
19"*9
2,311 2/
1950
1951
1952
1953
-402 2/
3,557
3,636
3,301
3,369
3,355
3,068
1951*
2,05l»
l,688i/
1955
1956 P
1,362 4/
2,687
1,236
2,566
1957 (Est.)..
2,463
1956-January
February
March...
-373
-379
lltO
April...
Hay
June p
-353
983
.
July
Railroad
Retirement
Account
National
Service Life
Insurance
Fund
Unemployment
Trust
Fund
1,29 *•
1,414
1,678
1,950
1,545
346
338
357
449
280
-ISO
353
-72 it
-l,9l<6
650
9*
-245
590
59
1,522
1,241 5/
1,463
202
-2li8
23
73
135
583
1H
-51.5
121
258
1
-2
-65
-1
252
31*
-16
5<*8
128
66
7
-118
7
-139
-355
-179
975
980
-39
39
267
-9
-6
-6
-6
1,004
648
474
98
16
153
277
276
-822
-33
H
-8
33
-6
Total
Government sponsored
Banks
for
cooperatives
public
enterprise
funde
Federal
Housing
Administration
-It
-5
-12
-85
52
21
59
-86
11
9
-6
9
1
14
78
-3
Ji
-3
33
-6
-it
15
25
24
-1
-35
26
8
207
-1
521
Government-sponsored enterprises
Federal Savlnge
and Loan
Insurance
Corporation
11
7
9
Other trust
accounts 1/
n.a.
n.a.
Total
447
5*3
573
62 It
588
8
-37
40
69
Government
employees
retirement
funds
32
-26
n.a.
104
101
79
-77
1951
1952
1953
1954
Life
Insurance
Fund
-247
70
176
Public enterprise funds
Fiscal year
or month 6/
Government
enterprl ses
41
8lt
73
12
-2
179
153
U3
y
Federal
Deposit
Insurance
Corporation
Federal
home
loan
banks
62
84
87
102
95
61
Federal
land
banks
21
31*
18
82
425
19
Memorandum J/
1955
1956 p
126
101
95 g7
13
69
15
1957 (Eat.)..
18 8/
17
170
548
98
104
n.a.
155
105
50
1956 -January.
February
March
7
12
2
-1
4
217
1
2
285
70
68
11
6
4
1
56
61
April...
2
-3
2
4
8
it
3
1
ait
13
3
8
WW
June p .
July
-5
63
3
-11
49
-17
13
-15
47
-30
35
1
34
-12
Source:
See Table 1.
1/ Prior to 1951, consists of Adjusted Service Certificate Fund.
2/ Prior to 1951, net Investment by smaller trust accounts and by deposit
fund accounts Is Included In expenditures In TabJe 3.
37 For explanation of difference from Budget figures, beginning 1954, see
"Cash Income and Outgo," Tablo 7, footnote 1.
kj Excludes net investment by Government-sponsored enterprises beginning
with the fiscal year 1955 (aee Table 1, footnote 3).
57 Includes net sale of $300 million for adjustment of excess transfers
of tax receipts la 1952 and 1953 (see "Budget Receipts and Expenditures,"
Tablo 1, footnote 15 ).
10
1
Prior to 1951, net Investment by public enterprise funds vas Included
in budget expenditures, and net Investment by Government-sponsored
enterprises was Included in deposit fund expenditures (see Table 3).
Net
investment by Government-sponsored enterprises beginning 1955 is
2/
Included In deposit fund expenditures in Table 3.
Beginning 1955, figures Include net transactions In guaranteed securi8_/
ties by Federal Housing Administration and Federal National Mortgage
Association.
*
Less than $500,000.
p
Preliminary.
n.a. Not available.
6/
September 195b
TRUST ACCOUNT AMD OTHER TRANSACTIONS.
Table 5.- Net Redemption or Sale of Obligations of Government Agencies In the Market
(in millions of dollars; negative figures indicate net sales)
Securities guaranteed by the United States
Fiscal year
or month
Public enterprise funds
Total
guaranteed
Commodity
Credit
Corporation
Federal
Farm
Mortgage
Corporation
Federal
Treasury Bulletin
10
.CASH INCOME AND OUTGO.
The cash Income and outgo data appearing In the
"Treasury Bulletin" have been revised, beginning with the
February 1956 Issue, to a basis consistent with receipts
from and payments to the publlo as derived In the 1957
ReconBudget of the United States, Speolal Analysis A.
ciliation to cash deposits and withdrawals In the account
of the Treasurer of the United States Is shown on the
same basis as In the Budget dooument.
There Is also shown
the amount of net cash borrowing from,
borrowing to, the publlo.
or repayment of
By these arrangements,
data In
representing cash received from the public. Federal cash
borrowing from the public Includes net borrowing by the
Treasury through public debt transactions and aleo net
borrowing by Government agencies and Government-sponsored
enterprises through sales of their own securities.
It excludes changes In the public debt which do not rep-
The net
effect of all these transactions with the public le
reflected In changes In the balance In the Treasurer's
resent direct cash borrowing from the public.
account and In cash held outside the Treasury.
aocordanoe with the Budget classifications are ^ade avail-
Figures for back years have been
Cash transactions through the Treasurer's account are
revised where necessary In order to make them as nearly
similar In general concept to those Included In the Budget
able month by month.
Budget classifications as
For this reason certain of
the figures differ somewhat from those published In
earlier Budget documents as well as In the Bulletin.
but are limited In coverage to transactions whloh
comparable with the 1957
series,
available data will permit.
affect the balance In that account.
On the other hand,
they Include receipts from the exercise of monetary
authority, which are excluded from receipts from the public
In the Budget series.
The Budget series of caeh transactions le designed
to provide Information on the flow of money between the
public and the Federal Government as a whole, and therefore
Beginning with figures for the fiscal year 1953, the
series of transactions with the public Is based on the
Includes transactions not cleared through the Treasurer's
"Monthly Statement of Receipts and Expenditures of the
Receipts and payments Include transactions both
United States Government," which le compiled from reports
In budget accounts and In trust and deposit fund accounts.
Operations of Government-sponsored enterprises are Included
by all collecting and disbursing officers and Includes
those transactions not cleared through the Treasurer's
account.
In payments on a net basis as reflected In Treasury reports.
account.
Major lntragovemmental transactions whloh are reported as
account, beginning with the figures for the same year, are
both expenditures and receipts are eliminated from both.
reported In dally Treasury statements.
Noncash Items which represent accrued obligations of the
prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of dally Treasury
Government to make payments In the future are also eliminated
from expenditures but are added later when aotual payments
are ^Aie.
Receipts from the exercise of monetary authority
(mostly seigniorage on silver)
are
excluded
ae
not
Cash deposits and withdrawals In the Treasurer's
For tho6e years
statements which reported separate classifications for
trust account transactions, etc.
budget results,
.
September
19%
11
CASH INCOME AND OUTGO
Table 1.- Summary of Federal Government Cash Transactions with the Public
(In millions of dollars)
Net cash transactions vlth the puhllc
other than borrowing
Fiscal year
or month
Federal receipts from
the public
1949
1950
1951
1952
•1,576
40,940
53,390
68,013
1953
Federal payments to the
public
Plus: Net cash
borrowing from
the public, or
repayment (-)
Excess of
receipts, or
payments (-)
Plus: Receipts from
exercise of
monetary
authority
1,006
-2,207
7,593
71,1*99
40,570
•3, 147
45,797
67,964
76,773
-5,274
-2,513
4,229
-5,796
-505
2,919
1954
1955
1956 P
71,627
67,836
77,067
71,860
70,538
72,593
-232
-2,702
4,475
2,512
1,809
-4,436
29
23
27 1/
49
46
-1,462
25
2,047
1,839
43
68
56
73
1957 (at.)..
80,835
77,151
3,684
-4,089
I956 -January
February
March. ..
4,961*
-606
1,462
6,116
-717
7,140
11,981
5,570
5,679
5,864
25
1
2
-3,832
April...
4,85l»
May
June p..
6,581
12,150
6,008
6,004
7,044
-1,154
577
5,107
-197
-106
-4,934
July....
3,964
5,895
-1,931
-439
Source: Actual figures through 1952 are based on the daily Treasury
statement and thereafter they are based in part also on the monthly
statement of receipts and expenditures of the Government (for explanation of reporting bases, see page II); estimates are based on
the midyear review of the 1957 Budget, released August 28, 1956,
1/
p
Equals:
Change in cash balances
Treasurer's account
balance, increase,
or decrease (-)
-388
-2,299
-312
-269
-546
168
-1,293
1,504
-29
-16
3
2,316
-28
4
-1,360
548
287
-112
3
2
(In millions of dollars)
Cash
13
-73
-2,369
including expenditures from 1957 appropriations anticipated for later
transmission to the Congress.
Includes excess profits tax refund bond redemptions (see Table 3).
Preliminary.
Net cash transactions other than borrowing
Cash
deposits
257
2,096
-551
331
Table 2.- Summary of Cash Transactions through the Account of the Treasurer
of the United States
Fiscal year
or month
Cash held outside
Treaeury, increase,
or decrease (-)
.
-
..
:
Treasury Bulletin
12
CASH INCOME AND OUTGO
Table 3.- Derivation of Federal Government Receipts from the Public, and Reconciliation to
Cash Deposits in the Account of the Treasurer of the Uni ted States
(In millions of dollars)
Loss:
Receipts
Fiscal year
or month
Budget
(net)
i/
Trust
account
2/
It6
1,831.
1.1,576
k6
36,1*95
6,669
7,7?6
8,607
8,92?
k3,l6k
2,197
1,930
2,116
2,199
25
2,22k
1,971.
56
2,185
2,255
k0,9k0
53,390
68,013
25
1.3
9,155
9,536
11,635
73,811
2,110
2,061
73
Ik, 200
eJt.ooo
3,136
3,165
371
1,009
757
=,055
7,20k
15,07"
90
62
92
6k
89
-,953
£,6 5 U
13,192
06
100
1..35U
70
75
1,01.0
l.ote
6,581
12,150
"•,597
631
633
3,961*
k,68k
11,313
55,361.
73,75k
•
:
',--''
.
1,132
2,183
2,090
29
23
79,825
5,050
July ....
Source
adjustment for
Plus: Receipts
net difference
from exercise
due to reportof nonrtarj
ing method (See
authority kf
also Table It)
1,781.
Apr.'l...
r
y
Reconciliation to cash transactions In Treasurer's account
l*3,i»10
60,390
m
Total deductions
Equals:
Federal
receipt*
from the
public
5,71"*
6k ,655
J
demption
Peceipta
from
exercise of
monetary
authority
37,696
-7,568
61,391
6U.825
-January.
February
Hareh...
Intragovernmental
transactions
(Bee Table 5)
Deductions from receipts
Exceso
proflte
tax refund
bond re-
See Table 1.
.
Equals:
Cash
deposits
In the
Treasurer's
account
1.1,622
1.0,065
»3
53, 1.33
68
68,081
56
-210
-1,31.5
73
Ilk
71,815
67,836
77,067
29
23
-107
-11
80,835
k,9*k
27 57
71,1.99
7,11.0
11,981
77,079
80,86?
-230
L ,729
2
-53
3
368
7,089
12,351
ll
-lioo
3
295
1
'-.
ItO
6,879
12,192
-255
3,701
Footnotes follow Table 7.
Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to
Cash Withdrawals from the Account of the Treasurer of the United States
(In millions of dclJare)
Less:
Deductions
free expenditures
Expenditures
Fiscal year
or aonth
Trust
Budget
1/
and
deposit
fund
account
Intra
governmental
transactions
Govcrrcentspensored
enterprise
(net) 2/
(See
2/
Accrued
Interest
and other
noncash
expenditures
(See Table 6)
Table 5)
39,507
1950
-
3,652
1952
1953
65,1.08
1951.
291
1.3,018
lt6,U97
li8,002
-366
-119
70,359
79,W»3
-1,356/
98
7k,5k2
-83
6,961.
w. ,058
5,317
5,288
6/
1,78k
2,197
1,930
2,116
2,199
66k
1,153
275
279
k72
EquaJs:
Cash
Reconciliation to cash transect
in the Treasurer's account
Equals
Lfes: Payments to the public not
FederaJ
reflected In the Treasurer's account
payments
From proceeds of sales
From cash
to the
held outside In the market of agency
public
the Treasury obligations and public
'ebt sera-lties (See
Table 7) 2/
y
kO,570
k3,l L 7
k5,797
67,96k
76,773
Adjustment
for net
difference
due to
reporting
method
(See al?o
Table 3)
withdrawals
from
the
Treasurer's
account
k0,k62
k3.07Q
k',718
108
68
79
170
155
-210
76,k07
256
230
329
Ilk
-107
-11
71,97k
1955
1956 p
61., 570
66,386
8.5WS
9,369
321.
76,100
2,110
2, 061
2,735
1957 (Est.)...
69,093
11,700
-131.
80,659
3,138
370
77,151
-168
5,27k
-285
-20
-53
5,893
5,800
6,107
90
62
86
233
5,570
5,679
5,86k
29
-18
-236
16
10
-53
28
55
368
5,323
5,600
6,lk9
96
70
l,0k0
265
61
6,008
6,00k
7,0kk
-13
103
73
26
73
J190
295
ko
5,k28
6,200
6,898
631
28
-265
5,603
7,201.
73,21".
February.
!»,950
Much
5,399
90U
670
761
Arrll
Hay
June p...
5,387
5.WJ7
6,783
1,006
669
783
-25
55
6,368
6,13k
7,622
July
5,51.2
1,029
-45
6,526
•ir.uary
source:
.
. . .
See Table 1.
-1
615
772
71,860
70,538
72,593
-257
312
572
60
156
-k63
269
112
5,895
Footnote follow Table 7.
71,98k
77,319
.
.
September
'
19%
13
CASH INCOME AND OUTGO.
Table 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments
(In millions of dollars)
Budget receipts which are
Budget realso budget expenditures
ceipts which
are also
Interest paid
trust fund
to Treasury
Other
expenditures
by public
enterprise
2/
funds
Fiscal year
or month
u
1949
1950
1951
1952
1953
32
170
18
20
25
59
73
87
102
144
6
Trust fund receipts which are also
budget expenditures
Budget receipts
which are also
Gove name ntsponsored
enterprise
expenditures
Interest on
investment in
public debt
securities
u
40
29
147
10
Interest
on uninvested
trust
funds
Payroll deductions for
employees
retirement kj
Other
1/
Trust fund
receipts which
are also
trust fund
expenditures
6/
841
880
892
987
1,094
327
358
378
411
420
366
834
398
573
463
7
1,784
2,197
1,930
2,116
2,199
18
16
14
2,110
2,06l
2,735
2
2
2
3
1954
1955
1956 P
228
6
173
297
7
16
68
81
100
1,188
1,173
1,207
430
439
574
167
166
519
1957 (Est.)..
461
10
105
1,292
590
661
3,138
1956 -January.
February
March...
26
2
2
3
53
3
15
*
3
6
17
32
60
5
4
90
62
86
April...
4
1
2
33
2
8
795
49
54
45
85
96
70
1,040
1
36
553
631
May
June p.
no
July
Source:
3
3
33
See Table 1.
5
4
Footnotes follow Table 7.
Table 6.- Accrued Interest and Other Noncash Expenditures Excluded from Payments
(in millions of dollars)
Fiscal year
or month
Net accrued
Interest on
savings bonds
and Treasury
bills 1/
Clearing
account for
public debt
interest 2/
-164
-95
-160
-68
-24
1949
1950
1951
1952
1953
581
574
638
758
718
1954
1955
1956 p
524
497
456
1957 (Est.)..
340
1956 -January
February
March
54
359
-7
1
38
April
May
June p.
22
34
58
193
172
-953
July
48
298
Source:
See Table 1.
Noncash expenditures involving Issuance
of public debt securities Zj
Special notes of U. S. 6/
Adjusted
Armed forces
International
service
leave bonds 5_/ International
Monetary Fund
bonds 4/
Bank series
series
68
26
-14
-15
5
-1
-1
-1
-1
-25
-41
Net Investment
In public debt
securities
Included in
expenditures
Clearing
account
for
checks
outstanding,
etc. 8/
366
664
483
1,153
275
279
28
-214
-401
-250
109
156
175
-115
-55
164
-98
207
13
-9
6
28
472
572
615
772
50
-12
370
30
11
-14
-209
52
132
233
-6
56
76
-221
k33
-14
Footnotes follov Table 7.
-332
60
156
265
61
-463
-
.
.
Treasury Bulletin
llv
CASH INCOME AND OUTGO.
Table 7.- Derivation of Federal Government Net Cash Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Ret borrowing, or repayment of borrowing (-); In millions of dollars)
Change In public debt and agency obligations held by the public
Ret sale of obligations
of Government enterprises In
the market
Plus:
fiscal year
or month
1949
1950
1951
1952
1953
Public debt
Increase, or
decrease (-}
-46
-8
10
1*78
•,587
-2,135
3,883
6,966
,
Government
sponsored
enterprises
Public and
trust enterprise funds
-28
2,311
-II.
-has
33
3,369
3,355
3,068
101
79
11
269
872
1,686
1,236
2,586
-77
126
101
446
171
548
-3,813
21
155
-3,706
7
12
2
285
70
63
-634
-3,846
2
8
84
-11
49
-17
-l8l
4
-4,876
35
-406
-1,351
242
-720
-2
60
-3.76U
128
40
50
10
-379
128
66
-556
1.7
941
-3,978
1.8
-36
»7
-355
975
51
38
Fiscal year
or month
1949
1950
1951
1952
1953
581
574
638
758
718
1954
1955
1956 p
524
497
456
1957 (Set.)..,
340
1956 -January.,
February.
March...,
54
-7
April
May
June p
980
276
34
.
.
Adjusted
service
bonds
4/
Armed
forces
leave
bonds 4/
-e
-164
-95
-160
-68
-24
4
Special notes of U. S. 4/
International
Bank
ssriss
International
Monetary
Fund
series
-25
-41
-98
207
3,130
2,454
28
Less:
ExcesB
profits
tax
refund
bonds 5/
-4
-1
-1
-1
Total
deductions
287
642
489
680
Bquals:
Ret cash
borrowing
from the
public , or
repayment
Transactions
not
reflected
In
the
Treasurer's
account 6/
Equals:
Ret
cash
borrowing
through
the
Treasurer's
account, or
repayment (-)
79
170
155
-2,622
4,161
-5,875
-674
2,763
256
230
329
1,579
-4,765
108
88
722
-2,513
4,229
-5,796
-505
2,919
-14
-8
-7
109
156
175
618
644
623
2,512
1,809
-4,436
50
382
-4,089
-1
-1
30
11
83
-14
-14
-717
25
-3,832
-18
10
55
-6
15
110
57
-197
-106
-4,934
103
73
-299
-132
-5,006
-439
28
-467
-1
-1
13
-9
76
58
48
See Table 1.
Deductions for noncash and other transactions
Issuance of public debt securities representing
expenditures, or refunds of receipts fj
1
82
July
Source:
2,463
-105
Less:
-2,226
4,870
-5,308
175
3,640
37*
-186
1957 (Est.)...
Ret
accrued
interest
on
savings
bonds and
Treasury
bills 2/
313
69
-59
1956 -January..
February.
March
July
6
28
101.
114
-1,&3
.
Governmentsponsored
enterprises
84
179
153
-1*
602
173
April
Kay
June p.
Public
enterprise
funds
Trust funds
1954
1955
1956 p
5,189
3,115
Equals:
Increase in
securities
held by the
public, or
decrease (-)
Less: Net Investment In Federal
securities by Government agencies
3
-14
Footnotes on following page.
68
2,255
-4,089
26
-699
15
-3,887
U
.
September
l
l
)5b
15
CASH INCOME AND OUTGO.
Footnotes to Table 3
i
4/
For further detail, eee "Budget Receipts and Expenditures," Table 1.
For further detail, see "Trust Account and Other Transactions," Table 2.
Treated as noncash refund deductions from receipts when issued and as
cash refund deductions when redeemed.
Consists of seigniorage on silver and increment resulting from reduction
In the weight of the gold dollar; excluded from receipts from the public
but included In cash deposits In the Treasurer's account.
Includes excess profits tax refund bond redemptions, for which a separate estimate Is not available.
Leee than $500,000.
Preliminary.
5/
*
P
Footnotes to Table 4
ti
u
penditures for operations are shown in this table In terms of the
combined net of disinvestment In Federal securities and sale of agency
obligations In the market, and net receipts from operations are shown
in terms of the combined net of investment in Federal securities and
redemption of agency obligations in the market.
Not reported prior to 195*.
Consists of only those market transactions not cleared through the
Treasurer's account.
See Table 7, footnote 1.
Less than $500,000.
Preliminary.
For further detail, see "Budget Receipts and Expenditures," Table 2.
For further detail, see "Trust Account and Other Transactions, " Tables 3>
U, and 5.
Includes net change in balances in Goverrxaent -sponsored
enterprise deposit fund accounts with the Treasurer of the Ifaited States.
Net operating expenditures, or receipts (-), as measured by funds provided
by or applied to net security transactions refleoted in Treasury reports
(see Table 7). To a large extent, these Gove rnment -sponsored enterprises
secure funds for their operations by direct borrowing from the public or
by cashing Federal securities which they hold, and they apply the
net Income received from operations to repayment of borrowing from the
public or to lnvee'taent in Federal securities. On that basis, not ex-
Footnotes to Table 5
1/
2/
3_/
*/
Federal intermediate credit bank franchise tax and, beginning 1953,
also reimbursement by Panama Canal Company for expenses and services.
Includes reimbursement by Federal Old-Age and Survivors Insurance Trust
Fund for administrative expenses and, beginning fiscal year 1953, *l»o
for refunds of taxes (treated as an offset to refunds rather than being
credited to receipts); reimbursement by the District of Columbia; and
In 19*9, proceeds of ship sales which had been carried In trust
accounts pending allocation to budget receipts from sale of surplus
property
Consists of payment of earnings and repayment of capital stock to the
Treasury through 1952, and beginning 1955, payment of franchise tax
by banks for cooperatives.
amounts of deductions from salaries paid by
Includes relatively
trust funds and Go vernment -sponsored enterprises.
—
Consists of THIted States and Government corporation shares of
contributions to employees' retirement funds, and payments to the
Railroad Retirement Account (for creditable military service), the
Unemployment Trust Fund, veterans' life Insurance funds, trust fund
for technical services and other assistance under the agricultural
conservation program, and District of Columbia.
Includes District of Columbia share of contributions to the Civil
Service retirement fund, payments by Railroad Retirement Board to
Federal Old-Age and Survivors Insurance Trust Fund, transfers from
Civil Service retirement fund to Foreign Service retirement fund
except in 1956 and 1957, and transfers from Railroad Unemployment
Insurance Administration Fund to Unemployment Trust Fund.
Lees than $500,000.
Preliminary.
5/
6/
*
p
Footnotes to Table 6
1/
2/
3/
4/
2/
paid on savAccrued discount on savings bonds and bills less Interest
ings bonds »"d bills redeemed,
June
1955, efbeginning
30,
unpaid
Public debt Interest accrued and
from a due and
fective date of the change in accounting and reporting
of public
only
payable basis to an accrual basis; for 195*, consists
increase, or dedebt interest checks and coupons outstanding; net
account prlorto 195*,
crease (-). Hot reported as a separate clearing
Hovember 19*9.
interest reported when paid by Treasurer prior to
of the securiissuance
of
time
the
at
Treated as noncash expenditures
their redemption; net
ties and as cash expenditures at the time of
issuance, or redemption (-).
certificates held by
Issued In 1936 in exchange for adjusted service
veterans of World War I. The bonds matured In 19*5.
The last of these
Issued in 19*7 in payment for accumulated leave.
6/
1/
a/
of the InterPart of the United States subscription to the capital
to the International Bank for Reconstruction and Development and
ncninterest-bearlng,
national Monetary Fund vae paid in the form of
Report of the
nonnegotiable notes payable on demand (see 19U7 Annual
and
385) • The Inst of the
Secretary of the Treasury, pages kS, 350,
notes issued to the Bank was redeemed in 1950.
such net InBy wholly owned Government enterprises; beginning 1951,
By
in expenditures
vestments are reported separately and are not Included
Table it).
(see "Trust Account and Other Transactions,
and telegraphic reports
Checks outstanding lsss deposits in transit,
For public
(-).
decrease
or
from Federal Reserve Banks; Increase,
footnote 2.
debt interest Included prior to 195>», see
Less than $500,000.
Preliminary.
bonds matured In 1951-
Footnotes to Table 7
with treatment InBudget
In this table, beginning 195* , in accordance
securities by Oovernmentdocuments, net investoent In United States
^enterprises
spcnsored'enterprlees Includes a small
with the
regarded as representing net transactions
amounts are inthese
undeT"Truet Account and Other Transactions,"
investment
cluded in trust and deposit fund account
*»
which is
Accrued discount on savings bonds and bills,
bonds and
pr^pal of the public debt, less Interest paid on savings
«-»**
issuance, or redemption
transactions at the tlae of redemption; net
k/
P^c. *™J?
5/
ijc^j"
6/
__, __ _-->,
bills redeemed.
Issuance and as cash
Treated as noncash transactions at the time of
«
p
are treated as exExcluded from borrowing because the transactions
penditures In Table 6.
are treated as da
Excluded from borrowing because the transactions
ductlons from receipts In Table 3.
.»,„„
agency obligations.
and
Market transactions in public debt securities
Less than $500,000.
Preliminary.
Treasury Bulletin
16
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 1.- Summary of Federal Securities
(In ollllona of dollai
Bid of
fiscal
year or
month
GuaranTotal 1/
Public
debt
1950
1951
1952
252,798
257,377
255,251
259,151
252,770
257,357
255,222
259,105
1953
266,123
195".
271,31.1
1955
1956
271., "il8
272,825
266,071
271,260
274,374
272,751
1955-Dee ember
280,822
1956 -January.
February
March...
260,102
280,167
276,1*1!
276,31.5
April...
May
June ....
275,8k5
276,791
272,825
275,789
276,729
272,751
July
272,719
272,61.5
19>*9
Mature! debt and debt bearing no Interest
Interest-bearing debt
Total outstanding
Public
debt
teed
securities 2/
27
Guaranteed
securities 2/ 3/
2U5
265
44
2,009
2,148
2,370
2,242
268,910
51
80
2,126
2,351
271,71.1
1.3
2,63".
269,683
73
2,869
2,125
2,350
2,633
2,868
277,799
52
2,970
277,170
277,295
51
2,881
2,816
2,865
73
2,712
2,753
2,869
2,711
2,752
2,868
73
2,675
2,671.
488
250,762
255,209
256,863
263 ,946
71.
263,997
268,990
271,785
269,956
260,769
53
277,851
280,049
280,106
53
58
59
277,221
277,351
273,539
273,1*81
57
56
273,133
56
62
27l>,038
61
7*
269,956
273,078
273,977
269,883
7*
270,01.1.
269,972
46
52
81
1.1.
27
Source: Dally Treasury statement.
1/ Includes certain obligations not subject to statutory limitation.
For amounts subject to limitation, see page 1.
2/ Excludes guaranteed securities held by the Treasury.
Conelata
of FHA debentures beginning March 1953.
X/
4/ Special notes of the United States Issued to the International
Monetary Fund In payaent of part of the United States subscription.
Table 2.
Monetary
Fund 4/
2,012
2,150
2,372
2,244
24
17
250,785
255,226
252,879
256,907
20
29
Public ieSt
Total
56
Other
5/
1.19
1,063
1,270
1,283
1,274
701
633
575
550
298
1,302
1.37
1,1.11
525
502
589
666
1,567
1,742
>»T7
i*60
2,970
657
1,61.5
467
2,879
735
660
725
1,675
1,686
1,672
469
580
1,666
5"*8
1,71*2
1*63
666
1,742
460
1,728
i<57
2,811.
2,863
512
Guaranteed
securities 2/
(natured)
1.67
1*66
1*65
pursuant to proTislons of the Bretton Woods Agreements Act. The
notes bear no Interest, are nonnegotlable , and are payable on demand.
Similar notes Issued to the International Bank and outstanding
i9l.7-l.9ltO. are Included under "Other."
Includes savings stamps, excess profits tax refund bonds, currency
Items, and notes Issued to the International Bank (see footnote 4).
For current month detail, see "Statutory Debt Limitation," Table 2.
Interest-Bearing Public Debt
(In millions of dollars)
September 1956
Treasury Bulletin
18
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 5.- Treasury Holdings of Securities Issued by Government
Corporations and Other Agencies 1/
September 1956
19
DEBT OUTSTANDING AND TREASURER'S ACCOUNT
Table 6.- Status of the Account of the Treasurer of the United States
(In millions of dollars)
:
20
STATUTOEY DEBT LIMITATION
U.3.C.
( 31
The Second Liberty Bond Act, ae amended
Issued
obligations
amount
of
face
the
that
757 b), provides
under authority of that act, and the face amount of
obligations guaranteed ae to principal and Interest by
ginning on August 28, 195 1*. and ending on June 30, 1956,
by acts approved August 2S, 195^, and June 30, 1955; an d
by $3 billion beginning on July 1, 1956, and ending on
the United States (except guaranteed obligations held by
the Secretary of the Treasury), shall not exceed In the
aggregate $275 billion outstanding at any one time,
Issued on a discount basis, and subject to redemption prior
June 30, 1957, by an act approved July 9, 1956.
to maturity at the option of the owner,
Obligations
are Included In the
statutory debt limitation at current redemption values.
except that this amount was Increased by $6 billion be-
Table 1.- Status under Limitation, July 31, 1956
(In millions of dollars)
t of securities vhlch may be outstanding at any one time, under limitation Imposed by the act
of June 26, 19I16 (31 U.8.C. 757 b), as Increased temporarily by the act of July 9, 1956
278,000
Amount of securities outstanding subject to such statutory debt limitation:
U.
8.
Government securities Issued under the Second Liberty Bond Act, as amended
272,183
Guaranteed securities (excluding those held by the Treasury)
•
272,257
Total amount of securities outstanding subject to statutory debt limitation
Balance Issuable under limitation
Source:
r*
5,7>>3
Dally Treasury statement.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding July 31, 1956
(In mllllona of dollars)
Class of security
Public debtl
Interest-bearing securities:
Marketable:
Treasury bills
Certificated of Indebtedness
Treasury notes
Treasury bonds
Panama Canal bonds
Total marketable
Nonmarke table
U. S. sarlnge bends (current redemption value)
Depositary bends
Treasury bonds, Investment aeries
Total nonmarka table
Special Issues to Government agencies and trust funds
Total Interest-bearing securities
Matured securities on which Interest has ceased
Debt bearing no Interest:
United States savings stamps
Excess profits tax rsfund bonds
Special notes of the United States:
International Monetary Fund Series
United States notee (less gold rassrre)
Deposits for retirement of national bank and Federal Reserve Bank notes.
Other dsbt bearing no Interest
Total dsbt bearing no Interest
Total public debt
Guaranteed securities:
i/
Interest-bearing
Matured
Total guaranteed aecurltlea
Total public dsbt and guaranteed securities
Subject to
statutory debt
limitation
20,807
16,303
35,963
81,831
Not subject to
statutory debt
limitation
Total
outstanding
'
1
September 195b
21
.DEBT OPERATIONS.
Table I.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding July 31,
(in millions of dollars)
1956
Treasury Bulletin
22
.DEBT OPEPATIONS.
Table 1.- Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued by the United States Government
and Outstanding July 31, 1956 - (Continued)
(In millions of dollars)
September
i9%
23
DEBT OPERATIONS.
Table 2.- Offerings of Treasury Bills
(Dollar amounts In millions)
Trcasurij Bulletin
2U
DEBT OPERATIONS.
Table 3.- Offerings of Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Date
subscription
book* vera
opened
Period to
Oat*
of
Issue
Aaount of
subscriptions
tendered
-
Description of security
Maturity
First call
Cash 1/
Kxohangl
Amount issued
Tor
cash 1/
In exchange
for other
securities
(In Billions of dollars)
6/16/32
,
t
7/1/52
7/1/52
8A/52
8/15/52
2?
9/15/52
10/1/52
2-1/8? Note
y
11/17/52
2/2/53
f
I
y
-
1-7/8? Certificate
2-3/8? Bond
Certificate -
10/1/52
1-1/2? Hote
8/15/52
2?
Certificate
-
2/15/53
2/15/53
2-1 A? Certificate
2-1/2? Bond
-
Vl/53
6/1/53-B
6/15/58
8/15/53-C 1/
1 yr
12/1/53-A
1 yr
10/1/57-30
5
1 yr
2/15M-A
1 yr
5 yr
Vl/58-EA
t/13/53
5/1/53
3-1 A? Bond
5/20/53
6/1/53
2-5/8? Certificate
-
6/1/5U-B
7/6/53
7/15/53
2-1/2? Certificate
-
3/22/5* -C
6/15/78-83
5
2,00837
2
m
10
m
yr
30 yr
1
U.963
11,693
yr
3/15/53-C 37
12/15/58 6/
1-1/2? Note
5 yr
m
n
11
lli
a
14
25 yr l\
b
5,250
yr
8,687
(tax ant. 10/)
8/5/53
9/2/53
f
I
y
10/28/53
2-5/8? Certificate
-
S/15/5*-D
2-5/8? Certificate 2-7/8? Hots
9/15M-E
1
3/15/57-A
3
2/lM
10/1/53
1-1/2? Bote
IO/1/58-BO
2-3A? Bond
9/15/61
7 yr
10
m
12/l5/5*-B
12/15/58 6/
lyr
5yr
i
>
2A5/5:
53
1-7/8? Bote
2-1/2? Bond
10
m
9
b
9
m
\ 2/15/5*
&/
yr
yr
11/9/53
11/18/53
1
lyr
8/15/53
9/15/53
9/15/53
1-5/8? Certificate
2-1/?? Bond
-
5 yr
2/15/55-A
ll/15/ol
1 yr
7yr
*A/5*
1-1/2? Hote
U/1/59-EA
5
yr
5/17M
1-7/8? Hote
2/15/59-A
J*
yr
5/17/55-B
1 yr
12,5*3
9,750
ii
5/5/5"»
I
8/2/5*
7/21/5".
8/3/5*
5/17/5*
1-1/8? Certificate Certificate (tax ant. J§/)
1?
-
3/22/55-C
7*.
lyr
I
8/15/5*
1
8/K/5U
1-1/8? Certificate
2-1/8? Bond
ioA/5*
1-5/8? Hote
5/15/57-B
10/1/5*
1-1/2? Hote
10/1/59-EO
5 yr
8/15/55-D 20/
12/15/55-E
8/15/63
1 yr
8 yr
9/23/5*
y
U/22/5U
8/15/5*
-2/15/5*
|l2/l5/5*
2/1/55
2/15/55
2/15/55
2/15/55
f
*/l/55
3/22/55
Vl/55
*/
1-1/B? Certificate
1-lA? Certificate
2-1/2? Bond
u/15/60
-
yr
6/22/55-F
U/1/60-EA
5
8/15/56-B 22/
1 yr
2?
7/18/55
1-7/8? Certificate (tax ant. 29_/)
7/11/55
2/l5/^
Hote
Bond
7/20/55
2?
2-lA? Certificate
7i.
1 yr
2 yr
1*0
-
m
m
1
6
2$ m
7,938
yr
3,989
3/22/56-A
10,620
1,720 2U/
10$ n
6/22 /56-B
8/15/56-B 2J/
8,190
yr
2/15/95 24/ *0 yr
Certificate (tax ant. 32/)
Hote
8/1/55
3
lyr
1-3/8? Certificate (tax ant. 26/)
1-1/2? Dote
2A5/95 ?J7
5/17/55
5/17/55
2
3/15/56-A
8/15/57-C
7/8/55
10/11/55
6 yr
1-5/8? Hote
Hote
2?
Bond
3?
5/3/55
10/3/55
3/15/55-D 22/
9,250
1 yr
6/22 /56-C
3
m
8
B
8,778
(tax ant. 32/)
11/28/55
1
3/5/56
I
1
1
10/1/55
1-1/2?
12/1/55
12/1/55
2-5/8? Certificate 2-7/8? Hote
J2/1/56-D
1 yr
6/15/58-A 32/ 2 yr
12/1/55
2-5/8? Certificate
2-7/8? Note
2/15/57-A
6/15/58-A 32/
171/6 1-EA
W
-A/56
lO/l/60-BO
-
1-1/2? Note
A?
7/16/56
7/16/56
2 -3
8/6/56
8/15/56
2-3A? Certificate
Note
8/1/57-D
-
(tax ant. 36/)
Footnotes on following page.
3/22/57-B
5 yr
6
:
lli.
2 yr
6
,
5 yr
1 yr
i.
7
a
10,613
Allotment
ratio
September 195b
25
.DEBT OPERATIONS.
Footnotes to Table 3
Source: Bureau of the Public Debt. Preliminary figures are from subecriptlon and allotment reports; final figures are on "clearance"
basis in dally Treasury statement.
^
2/
y
«°? "^ PUbU ° CMh oub <"=«P«°ns «Ad subscriptions by
S?fif
Onlted States Government lnveatment aocounta
Nonbank subscriptions vere allotted In
full. Commercial banks'
subscriptions for amounts up to and Including
$100,000 for their
ovn account also were allotted In full.
Commercial banks' subWtB
T i100 ' 000 f° r «"ir ovn account vere
allotted $100,000 on each subscription
2
*?? *jefiflcates dated August 15, 1952, vere reopened vlth
all certificates of the series identical
in all respects as an
exchange offering for the 1-7/8* certificates
vhich mtureT
eZChaneeB ta
*"
S^
4/
T
a^^H ,™™
mi^fou.
™*
^
^"^ —-
Exchange offering available to ovners of
nonmarketable 2-3/4*
30"18 ' JnTeBtoent Sertes B-I975-80, dated
April 1, 1951
For further Information on the original
offering see "Treasury
1951, p"8e
8hOTO
^"SSv
2SS
5/
67
7/
2/
8/
10/
11/
12/
137
14/
n/
X%£
^"
Sn^^
^
^~
^f^
«
V
^^
for'e"^^.*
16/
« " °^
** *"**
Amount shovn Includes exchanges by Federal
Reserve System Open
Market Account amounting to $714 million.
dated P8brnal7 15, 1953, vere reopened
vlth all
S!
the b"^*
bonds of the series identical In all
respects, as an exchange
offering for the 2-1/8* notes vhlch matured
December 1, 1957
10
68
6 *"° offsrtn«e "mounted to
$2, 3 6o million.
,^/^ certificates
Holders of the 1-7/8*
vhlch matured February 15 195,
vere offered a choice of exchanging the
security, for either the
one-year oertlficatea or the five-year, ten-month bonds.
The bond offering vae made available for
exchange of Series F and Gsavings bonds maturing from May 1 through December
31 I953
t
<,
flnte
&B "^""rtrtlons »«re limited to approximate^
»°
^'?^
4? So million
t t subscriptions
$1,000
Nonbank
In amounts up to and including
$5,000 vere allotted in full. All other subscriptions
vere allotted
20 percent. Commercial banks' subscriptions vere
restricted to an
amount not exceeding 5 percent of their time
deposits as of
December 31, 1952. The Treasury also reserved
the right to allot
limited amounts of these bonds to Government investment
acoounta
vhlch subscribed to a total amount of $118 million.
Also designated tax anticipation certificates,
icceptable at par plus
accrued interest to maturity in payment of Income
and proflta taxes
due March 15, 1951*.
Subscriptions for amounts up to and including $100,000
vere allotted
In full. Subscriptions for amounts over $100,000 vere
allotted 67
percent but in no case less than $100,000.
Holders of the 2* bonde vhich matured September
15, 1953, vere offered
a choice of exchanging the eecurities for either the
one-year certificates or the three-and -one-half -year notes.
Subscriptions for amounts up to and Including $10,000 vere
allotted in
full.
Subscriptions from mutual savings banks, Insurance companies
'
pension and retirement funds, and State and local governments
vere
allotted 24 percent. All others, including commercial banks,
vere
allotted 16 percent but not less than $10,000 on any one
subscription
Holders of the 2-1/8* notes maturing December
1, 1953, vere offered
a choice of exchanging the securities
for either the tvelve-and-oneB°a
ra
le fl ™-7e«-, ten-month bonde.
^. '£*"
/,?
certl e «*ee *ich matured February
15, 1954,
£>«5 notes *maturing
and the 1-3/8*
March 15, 1954, vere offered a choice
of exchanging the securities on February
15, 1954, for either the
one-year certificates or the seven-year,
nine-month bonds. In addition, holders of the 2* bonds maturing June
15, 1954, and tvo
issues of 2-1/4* bonds called for redemption
on June 15 1954 vere
6IChaD86
hOMln88
"
"^
»' *»'
Subscriptions for amounts up to and including
$10,000 vere allotted
°^ er„£!1>8CrlI Uons "o™ *U6"W> 22 percent but In no
case less than $10,000.
ZJ^'
^
'
.
°f Ul6
1°^"
?" 5/e* certlflo «t
"choice of, exchanging
,ft/
^"
«^«,^1T
12/
on/
<"> -taring June 1, 1954, vere offered
the securities on May 17, 1954, for either
the
«« four-year, nine -month notes.
mtlclp ;1<,L certificates, acceptable at par plus
7ettr certlflc « t<"' or
*?
"
Subscriptions for amounte up to and including
$50,000 vere allotted
in full. Subscriptions for
amounts over $50,000 vere allotted
P" rcen 3 but in no case less than $50,000.
mt
1-1/8* certificates dated August
15, 1954, vere reopened vlth
all the certlflcatea of the series
identical in all respects, aa an
^
1954, the 2* bonde vhich matured December
15, 1954, and the 2* bonds
vhlch vers called for redemption on
December 15 1954
Total exchangee in the tvo offerings amounted to
$8,477 million
Holders of the 2-5/8* certificates, maturing August
15, 1954,- and
the 2-5/8* oertifloates, maturing September
15, 1954, vere offered a
oholce of exchanging the securities on August
15, 1954, for either
the one-year oertifloates or the elx-year, three-month
bonda.
22/ Subscriptions for amounts up to and including $50,000 vere allotted
In full.
Subscriptions for amounts over $50,000 vere allotted
50
percent but In no case lees than $50,000.
237 Holders of the 1-7/8* notes maturing December 15, 1954, the 2* bonde
maturing December 15, 1954, and the 2* bonds called for
redemption
on December 15, 1954, vere offered a choice of exchanging
the Beourlties for either the 1-1/8* oertifloates, the 1-1/4*
certificates, or
the 2-1/2* bonds.
24/ The 3* bonds dated February 15, 1955, vere reopened vlth all the
bonds of the series Identical in all respects, as an additional
oaah
offering on July 11 1955. The total amount
Issued in the tvo
operations vas $2,745 million.
257 Holders of the 1-5/8* certificates maturing February 15,
1955 and
the 1-1/2* notes maturing March 15,
1955, vere offered a choice of
exchanging the securities on February 15, 1955, for either
the oneyear, one-month notes or the tvo-year, six-month notes. At
the
same time holders of the 2-7/8* bonds of 1955-60, called
for
redemption on March 15, 1955, were offered a choice of exchanging
the securities en February 15,
1955, for either the one-year, onemonth notes or the forty-year bonde.
26/ Also designated tax anticipation oertifloates, acceptable at par plus
accrued Interest to maturity in payment of Income and profits taxes
due June 15, 1955.
22/ The 2* notes dated May 17, 1955, vere reopened vlth all the notes of
the series Identical In all respeota, as an exchange offering for the
1-1/8* certificates maturing August 15, 1955. Total exchanges in the
tvo offerings amounted to $10,015 million.
28/ Cash subscriptions for $100,000 or less vere allotted In full. Subscriptions for more than $100,000 vere allotted 62 peroent but in no
case less than $100,000.
g°7 Also designated tax anticipation certificates, acceptable at par plua
accrued Interest to maturity in payment of income and profits taxes
due Maroh 15, 1956.
30/ Subscriptions for $100,000 or less vere allotted in full. Subscriptions for more than $100,000 vere allotted 19 percent but in no case
less than $100,000,
Subscriptions
from savings-type Investors totaled $749 million and
31/
vere allotted 65 percent. Subscriptions from mU other investors
totaled $970 million and vere allotted 30 peroent. Subscriptions
for $25,000 or less vere allotted In full. Subscriptions for more
than $25,000 vere allotted not lees than $25,000. In addition to the
amount allotted to the public $25 million of the bonds vere allotted
to Government investment accounts.
Savings-type Investors vere given
the privilege of deferring payment for the bonda, provided that not
less than 25 peroent of the bonds allotted vere paid for by July 20,
1955, not less than 60 peroent by September 1, 1955, and full payment
by Ootober 3, 1955.
32/ Also designated tax anticipation certificates, acceptable at par plus
aoorued Interest to maturity In payment of income and profits taxes
due June 15, I956.
Holders
of the 1-1/8* certificates vhloh matured August 15, 1955, vere
337
offered a oholce of exchanging the securities on August 1,
1955, for
either the ten-and -one-half -month certificates or the one-year, threemonth notes.
31/ Subscriptions for $100,000 or lees vere allotted in full. Subscriptions for more than $100,000 vere allotted 32 percent but
in no case
less than $100,000.
The
notes
2-7/8*
dated
December
35/
1, 1955, vere reopened vlth all the
notes of the series identical In all respects, as a partial exchange
offering for the 1-5/8* notes maturing March 15, 1956. Total exchanges In the tvo offerings amounted to $4,392 million.
36/ Holders of the 1-1/4* oertifloates and 1-3A* notes, both maturing
December 15, 1955, vere offered a oholoe of exchanging the aeourltles
on Deoember 1, 1955, for either the one-year oertifloates or the tvoand-one-half-year notes.
32/ Holders of the 1-5/8* notes maturing Maroh 15, 1956, vere offered a
choice of exchanging the securities on March 5, I950, for either the
eleven-and-half -month oertlficatea or the tvo-and -one-half -year notes.
Holders of the 1-1/2* notes maturing April 1, 1956, vers permitted to
exchange their securities only for the certificates.
38/ Also designated tax anticipation certificates, acceptable at par
plus accrued interest to maturity in payment of Income and profits
taxes due March 15 1957.
32/ Subscriptions for $100,000 or less vere allotted in full. Pubscrlptlons for more than $100,000 vere allotted 29 percent but In
no case lees than $100,000.
Preliminary.
p
21/
.
Treasury Bulletin
26
.DEBT OPERATIONS.
Table 4.- Allotments by Investor Classes on Subscriptions for Marketable Issues of Treasury
Bonds, Notes, and Certificates of Indebtedness 1/
(In millions of dollars)
Issue
September
19%
27
.DEBT OPERATIONS.
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
Called or Maturing seourity }J
Issue
date
Description
Disposition offers
by Treasury
Amount
outstanding
Cash
retirement
Results of exchange offers
Rir.hange
security
offered
Exchanged
(In millions of dollars)
1-7/8* Certificate
1-7/8* Certificate
1-7/8* Certificate
7/1/52 -B
8/15/52 -C
9/1/52-D
8/1/51
9/15/51
10/1/51
5,216
583
1,832
10/1/52 -E
10/15/51
10,861
1-7/8* Certificate
12/1/52-F
12/15/51
1,063
1-7/8* Certificate
2/15/53-A
3/1/52
8,868
6/1/53-B
6/15/53-55
7/1/52
10/7 Ao
4,963
725
8/15/53-C
8/15/52
2,882
Total.
2,4lo
1-7/8* Certificate
1-7/8* Certificate
Bond
2*
5,688
2*
Certificate
2*
Bond
9/15/51-53
9/15A3
7,986
2-1/8* Note
12/1/53-A
10/1/52
10,542
2-1 A* Certificate
2/15M-A
2/15/53
8,114
1-3/8* Bote
3/15/54-A
12/15 A9
4,675
Band
2*
2-1/4* Bond
2-1/4* Band
6/15/52-54
6/15/52-55
6/15/54-56
6/26/44
8/25/te
7/22/40
5,825
1,501
681
3/22M-C
7/15/53
5,902
6/15/52-51*
6/15M-56
6/26/44
2/25/U2
7/22/40
1,743
373
311
6/1/54-B
6/1/53
4,858
Total.,
20,796
2-1/2* Certificate
2*
.
2-1 A*
2-1 A*
Bond
Bond
Bond
2-5/8* Certificate
6/15/52-55
-
7,285
2-5/8* Certificate
8/15M-D
8/15/53
2,788
2-5/8* Certificate
9/15M-E
9/15/53
4,724
Total.
7,512
1-7/8* Uote
-
12/15M-B
12/1/53
8,175
2*
Bond
- 12/15/52-54
12/1/44
8,662
2*
Bond
- 12/15/51-55
12/15A1
510
17,347
"•,963
-
1*31*
1,575
Turned
in
for
oaah 2/
Description of nev
seourlty offered
Treasury Bulletin
28
-DEBT OPERATIONS.
Table 5.- Disposition of Matured Marketable Issues of Treasury Bonds, Notes,
and Certificates of Indebtedness
-
(Contlnuedl
September
i9%
23
.UNITED STATES SAVINGS BONDS.
United States savings bonds were first offered In
Series A-D
March 1935 and began to mature In March 19 ^5
were sold between March 1935 and the end of April 19^1,
•
and Series E, F, and G were first offered In May 19^1.
When Series E began to mature on May 1, 1951, owners of
the matured bonds were offered three options:
To redeem
details of these changes see "Treasury Bulletin" for
May 1952, page A-l. Series F and G began to mature on
May 1, 1953- For the exchange offering made to holders
of these bonds maturing through December 31, 1953, see
the May 1953 Issue, page A-l.
The Treasury Invited
holders of Series F and G which began to mature In January
to reinvest the proceeds In other series of savings
the bonds In cash In accordance with the original terms;
195'*'
to retain them with an extended maturity of 10 years at
bonds.
specified rates of Interest accrual; or to exchange them
for Series G bonds.
May
1,
1952.
A number of changes became effective
The rate of
The principal ones were:
In the tables which follow, Series A-F and J sales
are Included at Issue price and total redemptions and
amounts outstanding at current redemption values.
Series G,
and K are Included at face value throughout.
Matured
H,
Interest accrual on Series E was increased, especially for
bonds which have been redeemed are Included In redemptions.
the near term, with corresponding changes in extended
Series E; and Series F and d were replaced by two new
Matured F and G bonds outstanding are Included In the
Series J and K, also at higher Interest rates.
A new current-Income bond. Series H, similar In Interest
Issues,
return to Series
E,
was offered beginning June 1.
Interest-bearing debt until all bonds of the annual series
have matured, when they are transferred to matured debt
upon which Interest has ceased.
For
Table 1.- Sales and Redemptions by Series, Cumulative through July 31, 1956
(Dollar amounts in millions)
Treasury Bulletin
?o
.UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions by Periods, Series E
through K
(In Billions of dollars)
Accrued
discount
Fiscal years:
19kl-19k9....
1?50
1951
1952
1953
195k 6/
1955 1/
1956
Calendar years:
19UI-19U9....
1950
1951
1952
1953
195"*
1955
5k, 70k
3,993
3,272
3,296
k,06l
".,653
5,225
5,260
56,662
3,668
3,190
3,575
k, 3 68
k,389
5,368
loatiia:
1956 -January.
February
March
April...,
572
U76
«5
May
June....,
klk
U18
398
July
Ut3
2,77''
Sales plu
accrued
discount
Amount outstanding
Redemptions X/
Sales
price kj 2/
Series E and H ccnblned
Accrued
discount 2/
Interest-bearing
debt
Matured debt
:
.
September 1956
31
.UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions by Periods, Series E through K -(Continued)
(in millions of dollars)
Accrued
discount
Fiscal years
I9UI-I9U9
1950
1951
1952
1953
1951
1955
1956
51,
7d
3,993
3,272
3,266
3,700
3,938
It
,095
1,219
Redemptions 2/ ±/
Sales plus
accrued
discount
2,771
895
1,035
1,111
1,120
1,126
57,179
1,123
1,111
5,218
3,201
971
1,080
1,120
1,128
1,126
59,863
"1,887
"+,307
1,377
1,821
5, 111
5,333
Sales
price 1/ 2/
Accrued
discount ^/
I96
195
Amount outstanding (Interestbearing debt)
33,127
31,191
31,506
31,875
35,661
36,158
37,186
37,898
21,351
3,521
1,295
1,008
1,032
1,319
1,190
1,622
23,856
3,326
3,987
3,583
3,532
3,765
3,851
3,961
307
125
500
551
636
658
26,097
3,912
1,036
1,098
1,111
1,106
1,572
25,510
3,667
3,688
3,622
3,609
3,871
3,870
588
215
318
I76
531
535
702
33,766
31,193
31,727
Calendar years:
l?l)l-1949
56,662
3,668
3,190
3,393
3,906
1950
1951
1952
1953
1951
1955
1,023
1,192
Months:
1956 -January.
February,
March
1,U3
"1,639
,270
1,513
5,031
It
5,H9
5,3*
35,H3
36,036
36,778
37,510
111
81
8U
5I8
160
li57
111
360
388
387
295
331
55
65
57
37,617
37,717
37,766
122
137
I39
392
102
392
335
315
338
57
57
51
37,816
37,851
37,898
l*6U
118
363
55
37,913
30
360
665
1,130
1,011
6
26
55
108
26
55
866
1,177
182
162
866
1,177
16
38
79
135
100
92
135
100
92
1*37
376
372
April
May
June
3l2
351
81
325
111*
July
351
86
Series H jj
Fiscal years:
30
1952
1953
1951
360
665
1,130
1,011
1955
1956
30
6
L08
385
1,021
2,099
3,031
Calendar years:
182
162
1952
1953
1951
1955
Months:
1956 -January..
February.
March....
Source:
38
79
9
8
9
8
12
April....
May
June
72
72
68
68
73
73
10
10
12
July
91
91
13
Dally Treasury statement; Bureau of the Public Debt.
16
Footnotes
12
at.
181
627
1,155
2,553
2,679
2,771
2,851
10
10
12
2,913
2,971
3,031
13
3,110
end of Table 1.
.
32
Treasury Bulletin
.UNITED STATES SAVINGS BONDS.
Table 4.- Redemptions of Matured and Unmatured Savings Bonds
(In ml 111 one of dollar*
)
Matured bonds
Period 8/
Total
Total
matured $/
Series
A-D
For
cash
Total
ijtamatured bonds
In exchange
for Series G
and X
Series
7 and J
Total
unmatured
i/2/
Seles
price k/
Accrued
discount
Fiscal years:
1951
1952
1953
6,137
5,109
5,621
6,515
7,251
1951*
1955
1956
7,8k6
817
792
38
37
702
691.
1,128
l,k87
1,826
1,917
1,126
l,k86
1,825
1,917
25k
968
1,328
1,500
2,0U7
2k9
962
1,326
l,k99
2,Ok7
779
90
1,761
2,7k7
3,9kl
k,26 3
31
987
987
518
18
111
11
602 2/
l,2kl 2/
2,101
2,335
5,320
k,317
3,860
3,768
3,310
3,583
k,996
k,0k6
3,622
3,577
3,lk2
3,k39
32k
271
238
191
168
lkk
k,853
k,879
k,059
k,583
k,571
3,806
3,613
3,655
2,90k
270
308
Calendar years:
1950
1951
1952
,
1953
195k
1955
5,8kO
5,651
5,07k
6,11*9
6,985
7,301
7T2
1,015
2,318
3,171
U,230
1,7
2k
Ik
13
967 2/
1,657
2,169
3,831
3,8lk
3,071
253
217
159
167
Months:
1956 -Cenuary..
February.
March....
1,126
526
611
393
165
196
165
165
196
165
361
klk
227
600
»9
211
589
11
660
60k
37
198
12
13
April....
307
275
381
165
160
152
165
160
152
lkl
115
229
26k
296
k3k
251
June
571
571
815
283
k22
13
12
13
July
7U9
381.
15k
15k
229
36k
351
Ik
May
Source: Dally Treasury statement.
1/ Details by series on a cumulative basis and by periods for Series A-D
combined will be found In the February 1952 and previous Issues of the
"Treasury Bulletin."
2/ Includes exchanges of matured Series E bonds for Series G bonds beginning May 1951 and for Series E bonds beginning May 1952.
3/ Includes both matured and unmatured bonds; see Table k.
k/ Includes total value of redemptions not yet classified between matured
and unmatured bonds
U
A change In procedure, beginning In June 195k, for processing redeemed
sarlngs bonds has resulted In a high lerel of redemptions not yet
classified between matured and unmatured bonds. This Increase temporarily obscures the relationship between the redemption columns showing sales price and accrued discount In Tables 2 through k and also
the relationship between the matured and unmatured sections of Table k.
(See also footnote k.) The subsequent distribution of this high level
J
u
of unclassified redemptions may be large enough In any month to shov
redemptions of matured bonds for a series In Table h which are greater
than the total redemptions of that series as ehovn In Table 3, and to
shew a negative In the unmatured section of Table U.
Reductions vera made In Issues and redemptions of Series E. H, 7, G,
J, and E In July 195^ to compensate for the erroneous inclusion of
reissue transactions In June 195** as reported In the dally Treasury
statement. The amounts involved were as follows : $18 million for
Issues of Series £ and H and $17 million for Issues of Series P, G, J.
and K; and $35 million for unclassified retirements.
Sales began June 1, 1952.
Comparable data are not available prior to January 1950.
Includes exchangee of Series 1941 F and G savings bonds for Treasury
3-1 A* bonus of 1978-6*3.
Leas than $500,000.
September
19%
33
.OWNERSHIP OF FEDERAL SECURITIES.
Table 1.- Distribution of Federal Securities by Classes of Investors and Types of Issues
(In millions of dollars)
9
..
...
.. ,.
,
1
7
7
UU
U
u
Treasury Bullctir,
3*
.OWNERSHIP OF FEDERAL SECURITIES.
Table 3.- Estimated Ownership of Federal Securities
(Far value e 1/
Total
federal
eecurltlee
outstanding 2/
Bid of
month
•
In billions of dollars)
Held by private nonbank Investors
Eeld by banks
U. S.
Commercial
1/
Federal
Reserve
Banks
Government
Investment
accounts hj
Individuals 5/
Total
Insurance
companies
Savings
bonds
Mutual
saving s
banks
State and
Corpora- local
tions 6/ governments jj
Miscellaneous
Investors
U/8/
1939-Doceobor...
"*7.6
I8.lt
15.9
2.5
6.5
22.7
10.1
1.9
8.2
6.3
3.1
.U
.7
19U0-June
December.
"•8.5
50.9
16.1
17.3
2.5
2.2
7.1
7.6
22.8
23.9
10.1
10.6
2.6
2.8
7.5
7.8
6.5
6.9
3.1
3.2
2.1
2.0
.u
.
18.6
19.5
.7
.7
19Ul-June
December.
55.3
6U.3
21.8
23.7
19.7
21. It
2.2
2.3
25.0
31.0
11.2
13.6
7.6
8.2
7.1
8.2
3.U
3.7
2.0
U.O
.6
.7
.7
.9
19U2-Jun
December..
77.0
112.5
28.7
26.0
13.lt
10.3
9.2
11.3
3.9
U.5
U.9
10.1
.9
12.2
17.8
23.7
8.7
ltl.1
37.7
53.0
9.1
li7.3
2.6
6.2
8.5
9.5
10.6
3.6
.
1.1
2.3
19U3-June
December.
140.8
170.1
59.lt
67.O
81.7
30.9
37.6
13.1
15.1
1.5
21*.
11.7
12.9
12.9
11.5
14.3
I6.9
5.3
71.5
52.2
59.9
19.2
.
6.1
16.
2.1
3.U
U.U
19UU-June
December.
202.6
232.1
1*6.1
96.5
19.1
21.7
100.2
.
lllt.O
53-3
31.2
36.2
14.9
17.1
17.3
19.6
7.3
8.3
20.2
21.U
3.2
U.3
6.1
7.0
19U5-June
December.
259.1
278.7
106.0
59.1
1*0.7
5.3
.
61*.
6.5
8.3
9.1
279.8
269.9
259.5
106.7
108.2
97.9
93.8
6.7
6.5
6.3
8.9
8.6
8.1
258.lt
7.1
9.6
8.U
1946-February 2/
June
December.
,
.
19^7-June
December.
I9U8- June
December..
19^9-Juno
December.
1950-June
December.
257.0
. .
,
252.lt
.
252.9
. .
252.8
257.2
257.lt
83.3
68.U
77.7
8U.2
90.8
21t.9
27.0
128.2
136.6
7lt.5
22.9
23.8
23.3
28.0
29.1
30.9
91.9
91.3
70.0
68.7
21.9
22.6
32.8
85.9
85.8
6U.6
62.5
21.4
2J.3
35.8
8a. 1.
63.O
66.8
19.3
18.9
38.3
18.3
20.8
23.0
23.8
Ul.O
.
8lt.lt
..
256.7
83.9
82.6
255.3
259.5
fli.it
58.lt
85.it
61.6
1952 -June
December.
259.2
61.1
267.lt
8U.0
88.1
.
266.1
275.2
83.6
89.6
.
271.3
278.8
18.5
21.2
22.7
2U.0
9.6
10.7
23.3
22.2
135.1
132.6
130.7
1*3.3
20.8
2U.lt
63.3
1*3.5
19.9
61. .2
1*1*
.2
20.1
2U.9
2U.9
11.1
11.5
11.8
15.3
133.7
131.3
66.6
65.7
1*5.5
1*6.2
21.1
19.lt
2U.6
23.9
12.1
12.0
13.7
1U.1
130.7
129.7
65.8
65.5
1*7.1
22.8
21.2
12.0
11.5
13.6
1U.8
7.8
47.8
18.6
17.6
7.9
8.7
8.9
132.2
132.1
66.6
66.3
1*9.3
17.8
17.0
20.5
20.1
11.6
ll.U
15.8
16.8
8.0
8.1
9.6
9.4
37.8
135.6
1*9.9
17.6
1311.9
1*9.6
16.7
19.8
18.7
11.6
10.9
18.
39.2
67.U
66.3
8.7
8.8
9.7
10.5
49.1
16.3
15.5
17.1
10.2
16.5
9.8
20.1
20.7
9.4
9.6
10.7
10.6
15.7
16.0
15.7
16.1
9.6
9.5
18.8
10.
11.1
11.6
11.7
3lt.lt
37.3
39.lt
I18.8
19.9
17.8
19.7
7.3
It2.3
132.9
131.8
ltlt.3
130.8
6lt.8
1*9.0
lt5.9
133.lt
65.1
k:j.?
58.8
63.7
2"t.7
1*7.6
135.0
66.3
1*9.3
25.9
U8.3
137.3
65. **
Ii9.lt
17.1
16.0
16.0
15.8
9.5
9.2
21.0
12.0
12.7
13.2
88.7
9U.1
63.6
69.2
25.0
2U.9
t9.3
65.O
63.5
49.5
50.0
15.5
13.6
15.3
1*9.6
133.3
135.1
15.0
9.1
8.8
16.
19.3
13.9
1U.U
13.7
13.9
278.5
278.2
27*.l
92.6
90.6
87.8
68.7
66.9
6U.2
23.9
23.6
23.6
1*9.1*
136.5
61*.
138.lt
61*.
50.0
50.1
lfc.l
1*9.2
1*9.1*
136.9
65.3
50.2
15.2
15.2
15.2
15.0
8.8
8.8
8.8
20.0
21.2
19.0
13.9
13.9
1U.2
April
May
June
276.7
277.5
89.lt
23.6
23.7
23.6
138.3
139.6
136.7
65.1.
50.2
50.2
50.2
15.2
27lt.l1
65.8
6U.8
63.5
U8.9
88.5
87.I
15.1
15.0
1U.9
1U.8
8.8
8.8
8.7
20.1
21.2
18.8
1U.5
1U.6
1U.6
1U.6
1U.7
14.7
July
August
September.
277.6
87.9
86. It
lU0.lt
65.7
65.9
85.9
23.8
23.8
50.6
51.6
277.5
63.8
62.7
62.1
139.1
278.lt
51.2
lU0.lt
66.1
50.2
50.3
50.2
15.5
15.6
15.9
1U.9
15.0
15.0
8.8
8.8
8.7
19.8
20.8
20.6
IU.9
IU.9
14.9
15.0
15-0
15.1
October. ••,
November. .
December. ..
279.9
280.2
280.8
86.8
85.9
86.8
62.7
61.6
62.0
2U.0
2U.3
2U.8
51.0
51.6
51.7
11*2.1
66.0
65.7
65.5
50.2
50.2
50.2
15.8
15.5
15.3
1U.9
1U.8
Ht.3
8.6
e.5
8.5
22.3
23.2
23 .U
15.0
15.0
15.1
15.3
15.
15.6
280.1
280.2
eit.o
60.5
59.5
23.5
23.5
23.6
51.7
51.8
51.9
1UU.5
66.1*
50.3
67.O
67.5
50.1*
16.1
16.6
17.1
1U.2
13.9
13.6
8.5
8.5
8.5
23.7
23.8
20.5
15.5
15.7
15-9
16.0
11*5.3
It'..,
16.5
23.3
23.5
51-6
52-5
53.5
11*2.5
67.lt
50.it
IU3.1
138.7
67.1*
50.lt
50.3
17.0
17.0
16.8
13.6
13.5
67.2
8.5
8.U
8.U
20.7
21.1
17.8
15-9
16.0
15.9
16.5
16.6
16.0
195k -June
December.
.
.
1955-January ....
February ...
March
1956 -January
February
March
April
May
June p
5y
42.9
61*.
22.9
2U.7
December.
4/
1.0
65. 1*
61*. 6
1953Vuno
3y
18.8
21.8
1951-June
December...
2/
lit.
21i.3
11?.
65.6
61.8
1/
7.2
5.1*
.5
.
.
276. It
83.0
81.9
275-8
276.8
272.8
81.8
81.2
80.7
63.lt
58.3
58.lt
57.7
56.9
2lt.l
23.8
>>9.5
50.5
65.6
65.3
1U2.7
1U2.3
United States eavingB bonds, Serl-e A-F and J, are included at current
redemption value.
Securities Issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury. For amounts subject to
statutory debt limitation, see page 1.
Consists of commercial banks, trust companies, and stock savings banks
in the United States snd in Territories snd island possessions. Figures
exclude securities held in trust departments.
Holdings by Federal land banks are included under "Miscellaneous investors" Instead of "U. S. Government investaaent accounts" after
June 26, I9U7, when the proprietary interest of the United States in
these banks ended.
Includes partnerships snd personal trust accounts. Nonprofit lnatltu-
6/
2/
p
1*9.1
50.1*
lit
.6
15.lt
13.3
19.9
18.U
1U.U
1U.U
1U.U
16.
tlons and corporate pension trust funds are Included under "Miscellaneous Investors."
Exclusive of banks and Insurance companies.
Consists of trust, sinking, and Investment funds of State and local
governments and their agencies, and Territories and Island possessions.
Includes savings and loan associations, nonprofit Institutions, corporate pension trust funds, dealers and brokers, and Investments of
foreign balances and international accounts in this country. Beginning December 19fc6, includes Investments by the International Bank for
Reconstruction and Development and the International Monetary Fund In
special noninterest-bearing notes issued by the U. S. Government
Immediate postwar debt Teak.
Preliminary.
September
19%
35
.TREASURY SURVEY OF OWNER^IP, JXJNE 30, 1956
The Treasury Survey of Ownership covers securities
Issued by the United States Government and by Federal
The banks and Insurance companies Included In
Distribution of ownership by types of banks and insurance companies is published each month. Holdings by commercial banks distributed according to Federal Reserve member-
the Survey account for approximately 95 percent of such
securities held by all banks and Insurance companies In
bank classes and nonmember banks are published for June 30
and December 31. Holdings by corporate pension trust funds
the United States.
Data were first published for
March 31, 19^1, In the May lqUl "Treasury Bulletin."
are published quarterly and first appeared In the March I95I+
Bulletin for quarters beginning December 31, 19^9.
agencies.
Section
I
Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values
-
In millions of dollars)
a
36
Treasury Bullet ;,
.TREASURY SURVEY OF OWNERSHIP, JUNE 30, 1956,
Section
I
Securities Issued or Guaranteed by the United States Government
-
Table 3*- Interest-Bearing Public Marketable Securities by Issues
(Par value a - In millions of dollars)
Held b7 investors covered In Treasury Surrey
la bub
(Tax status %j la shown in parentheses)
Treaaury bills
Total
amount
outstanding
6,702
commercial
bankB gj }J
Insurance companies
525
mutual
saving
banks 2/
(taxable)
20,806
2,181
107
(taxable)
(taxable)
9,083
7,219
689
315
16,303
312
life
255
560 fire,
casualty,
and murine
U. S. Government
lnvostaent
accounts and
Federal Re serve
Held by
all other
investors
y
5/
63
1,128
17,074
Ik
25
6,121.
3
12
5,175
2,210
1,709
1,001.
37
37
11,299
3,919
900
8
29
hi.
7,519
500
112
3,892
88
500
109
Certificates of indebtedness:
2-5/8* December
2-5/8 February
1956-D
1957-A
Total certlflcatea of Indebtedness
Treasury notea:
2jT
August
1-1/2 October
2-7/8 Marcb
1956-B
1956-ED
1957-A
(taxable)
(taxable)
(taxable)
12,388
550
2,997
1,081.
1
55
April
May
August
1957-EA
1957-B
1957-C
(taxable)
(taxable)
(taxable)
531
4,155
3,792
18
1,782
1,879
17
102
12
98
1-1/2
1-1/2
2-7/8
October
April
June
1957-BD
1958-EA
1958-A
(taxable)
(taxable)
(taxable)
82l>
1
13
30
!»,392
68
234
1,555
15*
2
91.
358
1-1/2
1-7/8
1-1/2
October
February
April
1958-BO
1959-A
1959-EA
(taxable)
(taxable)
(taxable)
121
5,102
119
80
3,516
77
69
10
11
2
5
193
33
1-1/2
1-1/2
1-1/2
1-1/2
October
April
October
April
1959-B0
1960-EA
I960-HO
1961-KA
(taxable)
(taxable)
(taxable)
(taxable)
99
190
278
23
78
136
1-1/2
1-5/8
Total Treaaury notes
March
2-3A
June
2-1/2
December
Ju»
li
7
1
11,620
356
(taxable)
(taxable)
(partially)
1,44 9
3,821
982
757
2,683
32
"•56
1
1957-59
1958
1958-63
(taxable)
(taxable)
(partially)
927
U,2l»5
919
438
2,301
797
2-1/4
December
1958
1959-62
1959-62
(taxable)
(taxable)
(taxable)
2,368
5,274
3,463
2,269
1,152
2-1/8
2-3A
2-3A
Norember i960
December I96O-65
September 1961
(taxable)
(partially)
(taxable)
3,806
1,485
2,239
2,805
1,299
1,381
2-1/2
2-1/2
2-1/2
November
June
August
I96I
1962-67
1963
(taxable)
(taxable)
(taxable)
11,177
2,115
6,755
7,666
633
4,568
2-1/2
2-1/2
2-1/2
December
June
December
I963-68
1964-69
1964-69
(taxable)
(taxable)
(taxable)
2,821.
5C
3,752
3,828
2-1/2
2-1/2
2-1/2
March
March
June
1965-70
1966-71
1967-72
(taxable)
(taxable)
(taxable)
2-1/2
2-1/2
September
December
June
February
1967-72
1967-72
1978-83
1995
(taxable)
(taxable)
(taxable)
(taxable)
2-lA June
3-lA
3
Total Treaaury bonda
1,413
711.
3
Ul
1,655
13
2,145
1,797
37
106
2,229
37
1,280
26
5
16
25
18
34
46
15
708
9,81.5
4o
105
29
25
593
43
2
908
13
10
125
257
342
36
124
1,514
87
19
560
739
800
1,665
1,124
838
121
524
2
46
36
3k
51
330
77
13,371
494
9
107
110
221.
29
115
61.
18
*
151
37
109
37
U68
262
256
32
339
30
447
110
264
270
537
1,015
71k
360
417
201
424
676
65k
183
1»38
583
151
518
798
1,023
1,208
•.n't
2,958
1,875
352
139
62
713
322
193
89U
157
102
1,225
698
148
1,372
883
1,328
2,716
3,796
1,606
175
120
98
318
15
187
97
206
113
30
102
205
224
2,7i>5
1,379
132
35
132
144
152
841
3,021
1,202
1,835
8l,84o
34,705
6,071.
4,377
3,1.12
6,376
26,896
111.
813
80
±
Footnotes at end of Section II.
It
198
35,952
Treaaury bonds:
2-1/2* March
1956-58
2-lA September 1956-59
2-3/1.
September 1956-59
2-3/8
2-3/8
383
1
(Continued on following page)
45
101
Memorandum:
Held by
7,663
corporate
pension
trust funds
78
32
2,486
501
1,605
,
September
[9%
37
.TREASURY SURVEY OF OWNERSHIP, JUNE 30, I956
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par values
-
in millions of dollars)
A
)
36
Treasury Bulletin
.TREASURY SURVEY OF OWlfER^IP, JUKE 30, 1956
Section II
-
Interest-Bearing Securities Issued by Federal Agencies but
Not Guaranteed by the United States Government
(Par values - in
idI.1
.™» of dollars)
Held by investors covered in Treasury Survey
(Tax status 2/
*
s
Issue
Total
amount
shown in parentheses)
outstanding 12/
Banks for cooperatives:
2.95^ September I956 (Debenturee). .. .(taxable)
3 -3
March
(taxable)
1957 (Debentures)
2
June
1957 ( Debenture o)iJt/ (taxable)
40
12
53
40
19
25
133
57
(taxable)
(taxable)
(taxable)
144
125
150
21
A
Total banks for cooperatlvee aecurltlee.
Federal hone loan banks:
Insurance companies
525
6,702
commercial
banks 2/ j/
mutual
savings
banks 2/
312
life
580 fire,
casualty,
and marine
U. S. Government
investment
accounts and
Federal Reserve
Banks
Held by
all other
investors
y
Memo rand urn:
Held by
7,863
corporate
pension
trust funds
2/
24
27
10
60
10
15/
3-l/8< July
1956 (Botes)
3.20
August
1956 (Botes)
3-1/8 Soptember 1956 (Notes)
106
86
122
24
22
81
3-1/2
3.15
3-1/2
October
October
November
1956 (Rotes)
1956 (Notes)
1956 (Notes)
(taxable)
(taxable)
(taxable)
105
59
126
14
42
26
90
3.05
3-5/8
January
February
1957 (Notes)
1957 (Notes)
(taxable)
(taxable)
161.
29
123
56
15
929
166
us
(taxable)
S3 1*
237
51
taxable
(taxable)
(taxable)
215
130
130
150
1957 (Bonds)
1958 (Bonds)
1958 (Bonds)
(taxablo)
(taxable)
(taxable)
170
131
16%
(Bonds)
(Bonds)
(Bonds)
(Bonds)
(taxable)
(taxable)
(taxable)
(taxable)
71
124
106
60
Total Federal hone loan bank securities.
16
37
~687~
19
Federal lntemedlate credit banks:
Debentures
Federal land banks:
1-3
A*
2-7/8
3
3.30
May
2-1
2-lA
2-1/2
3-1/2
May
February
June
May
523
16/
October
1955-57 (Bonds )
September 1956 (Bonds)
February 1957 (Bonds)
2-3A May
2-lA Norember
12
1959
i960
i960
1971
(
Total Federal land bank securities
3
27
It
35
10
56
96
6%
1
2
1
8
10
116
1
58
58
5
U6
3
57
1
l»5
5
1
81
3
56
7
1
7
18
37
42
49
10
1,322
613
60
6l4
26
100
570
30
355
21
51
190
670
385
36
241
29
1
3
Federal Rational Mortgage Association:
3-1/8$ Norember
2-1/2 January
1956 (Debentures). ...(taxable)
(taxable)
1958 (Notes)
Total Federal National Mortgage Association
securities
1/
2/
4/
^/
6/
Includes certain obligations not subject to statutory debt limitation.
For amount subject to limitation, see page 1.
Excludes trust departments.
ftcludeB trust companies and, beginning with figures for July 1949,
also Includes stock savings banks. Previously, those banks were
reported as a separate classification.
Includes those banks and Insurance companies not reporting In the
Treasury Survey.
Consists of corporate pension trust funds and profit sharing plans
which Involve retirement benefits. The data are compiled from quarterly reports by trustees of funds which account for an estimated
three-fourths of United States Government securities held by «1 T
corporate pension trust funds. Since the data are not available each
month, the regular monthly Survey includes holdings by these funds
under "Held by all other Investors." The quarterly data are presented
as supplemental Information In a memorandum column accompanying the
Survey for each reporting date, beginning with December 31, 1953. The
corresponding information from earlier reports, beginning with
December 31, 1949, is summarised on page 30 of the March 195k "Treasury
Bulletin."
United States savings bonds, Series E, F, and J, are shown at current
redemption value. They were reported at maturity value by the banks
and Insurance companies Included In the Treasury Survey but havo been
15
%
1/
10/
_U/
12/
%
15/
16/
adjusted to current redemption value for use in this statement.
Holdings by reporting investors not available.
Excludes guaranteed securities held by the Treasury.
Federal securities fall into three broad classes with respect to the
imposition of Federal income taxes on income derived from them. "Wholly"
tax-exempt securities are those with the income exempt from both normal
tax and surtax. "Partially" tax-exempt securities are those with the
income exempt from the normal tax except that in case of partially taxexempt Treasury bonds, interest derived from $5, OCX) of principal amount
owned by any one holder Is also exempt from the surtax. "Taxable"
securities are those with the income subject to normal tax and surtax.
Includes Federal Housing Administration debentures; see footnote 11.
A small indeterminate amount of these debentures Is partially taxexempt.
Includes $90 million depositary bonds held by commercial banks not included In the Treasury Survey.
Includes only publicly offered issues.
Central Bank for Cooperatlvee debenturee.
The proprietary interest of the United States In these banks ended in
July 1951.
The proprietary Interest of the United States in these banks ended in
June I9U ?.
Less than S500,0O0.
September 1956
39
.TREASURY SURVEY
-
COfllEFCIAL BANK OWHERSHIP, JUNE 30, 1956.
The tables which follow provide an analysis of the
security holdings of commercial banks reporting In the
Treasury survey of ownership of securities Issued by the
United States Government and by Federal agencies. The
figures show the total holdings distributed aocordlng to
Federal Reserve member-bank classes and nonmember banks.
Section
I
-
This analysis of oommerolal bank ownership was first
published In the May 1944 Issue of the "Treasury Bulletin"
based on the survey data for December 31, 1943.
It has
appeared at semiannual or quarterly Intervals since that
time, and Is now being published for the June 3° and
December 31 survey data.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - In millions of dollars)
Classification
Federal Reserve member banks
Held by
6,702
commercial
banks
nLember
1/
banks
Central reserve city
M59
31 central
reserve
city
18
Nev York
City
2,343
287
reserve
city
13
Chicago
4,0M.
country
nonmcoober
banks
Public securities:
Marketable
Nanmarketable 2/.
1.9,529
1,701*
1*2,91*1*
8,156
1*2
6,051
32
2,105
10
16,903
231
17,881*
1,219
91*6
6,585
39 *
Total public securities.
51,232
41., 163
8,198
6,083
2,115
17,135
18,830
6,979
1
Footnotes at end of Section II.
Table 2.- Summary of Public Marketable Securities
(Par values - in millions of dollars)
Federal Reserve member
Classification
Held by
6,702
commercial
banks
1/
banket
2,31*3
Central reserve city
4,359
member
banks
31 central
reserve
city
18
Hev York
City
13
Chicago
287
l*,0l*l
reserve
city
country
nonmember
banks
Type of security:
Issued by U. S. Government:
Treasury bills
Certificates of indebtedness.
Treasury notes
Treasury bonds
Panama Canal bonds
Guaranteed by U. S. Government...
1,001*
73
11,620
34,705
7
11
1,580
6,127
Total.
49,529
2,l8l
372
U6
326
70
1,098
368
271
929
3
1*82
4,135
l*,2l*6
4,553
1,574
12,121*
12,281*
512
239
1,659
4,170
6,585
1*22
3
3
1*2,91*1*
8,156
6,051
9,493
1,1*80
2,1*80
2,105
16,903
17,861*
1*96
3,157
6,987
6,316
371
4,360
6,905
5,634
915
70
66
21.
17,884
6,585
Call classes:
Due or flrBt 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 Administration
debentures )
1,818
11,311
19,872
16,574
1,593
14,513
1,344
1,976
3,549
2,562
58
167
143
8
3
49,529
1*2,91*1*
8,156
6,051
2,105
16,903
Wholly exempt from Federal income taxes
Partially exempt from Federal Income taxes..
Subject to Federal Income taxes J*/
7
2,553
46,969
1*0,558
829
7,327
439
5,612
390
1,715
935
15,965
618
17,266
170
6,U11
Total.
49,529
1*2,91*1*
8,156
6,051
2,105
16,903
17,881.
6,585
Total.
Tax statue:
17,41*1
2,063
21
1,069
500
36
2,1*32
2,061
21*9
11
3_/
Footnotes at end of Section
U.
3
3
2,383
))
»K)
Treasury Bulletin
TREASURY SURVEY
Section
COMMERCIAL BAHK OWNERSHIP, JUNE 30, 1956
.
Interest-Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities by Issues
-
I
-
(Par values
-
In millions of dollars)
Federal Reserve member banks
Issue
(Tax status X/ Is shown In parentheses)
Treasury bills
(
taxable
Held by
6,702
commercial
banks
1/
Central reserve city
',359
member
banks
31 central
reserve
city
18
13
Nev York
City
Chicago
2,181
1,669
372
326
689
315
523
31
29
2k2
us
1,00k
765
900
k6
287
reserve
city
k,0kl
country
368
929
1*1
202
69
291
131
73
70
271
k22
58
1*9
9
21k
2
k
123
53
70
3k8
I*k2
6
109
10
550
825
Certificates of Indebtedness:
2-5/8* December
2-5/8 February
1956-D
1957-A
( taxable
(taxable)
Total certificates of Indebtedness
Treasury notes:
i]T
August
1-1/2 October
2-7/8 March
1956-B
1956-ED
1957-A
(taxable)
(taxable)
(taxable)
1,081.
687
6
91k
1,569
1,528
35k
91
21*5
1*2
66k
612
6I4
37
215
1,257
3*
105
37
31
k
112
33
72
555
8
kl5
1-1/2
1-5/8
April
May
August
1957-EA
1957-B
1957-C
(taxable)
(taxable)
(taxable)
18
1,782
1,879
1-1/2
1-1/2
2-7/8
October
April
June
1957-BO
1958-EA
I958-A
(taxable)
(taxable)
(taxable)
68
23k
1,555
1-1/2
1-7/8
1-1/2
October
February
April
1958-BD
1959-A
1959-EA
(taxable)
(taxable)
(taxable)
80
3,516
77
3,17"*
671*
6
522
2
152
69
k
1,389
26
1-1/2
1-1/2
1-1/2
1-1/2
October
April
October
April
1959-B3
1960-EA
I960-BO
1961-EA
(taxable)
(taxable)
(taxable)
(taxable)
78
136
198
7
72
131
181
6
17
31
8
21
1.9
1*7
9
10
2
19
65
79
1
1
3
35
35
5k
2
11,620
9,961
1,580
1,098
1*82
k,135
k,2k6
(taxable)
(taxable)
(partially)
757
2,683
U56
665
137
683
107
115
22
2,1*09
1*65
218
99
9
233
762
1*3
295
96k
155
58
196
11
59
120
11*6
81k
281
17k
925
198
320
75
60
57
696
280
533
799
370
259
197
Ilk
262
18
1,053
511
612
990
265
k7k
2,566
Total Treasury noteB
Treasury bonds:
2-1/2* March
1956-58
2-l/k September 1956-59
2-3/k September 1956-59
March
June
Juno
1957-59
1958
1958-63
(taxable)
(taxable)
(partially)
2,301
797
December
June
December
1958
1959-62
1959-62
(taxable)
(taxable)
(taxable)
2-3A
2-3A
November i960
December I96O-65
September I96I
2-1/2
2-1/2
2-1/2
November
June
August
1961
1962-67
2-1/2
2-1/2
2-1/2
2-3/8
2-3/8
1*38
16
9
72
k05
32
18
69
597
kO
1,112
37
7U3
69
254
263
2,269
1,152
1,195
2,030
1,027
215
535
377
(taxable)
(partially)
(taxable)
2,805
1,299
1,381
2,kkk
1,235
1,219
I.59
( taxable
(taxable)
(taxable)
7,666
6,786
316
3,12k
536
1,096
50
780
633
1*6
k
1963
313
173
k,568
3,925
776
626
151
1,1*69
1,681
December
June
December
1963-68
I96U-69
1964-69
(taxable)
(taxable)
(taxable)
50k
676
65k
U36
579
60k
k5
192
200
228
196
207
163
213
165
2-1/2
2-1/2
2-1/2
March
March
June
1965-70
1966-71
1967-72
(taxable)
(taxable)
(taxable)
352
139
82
307
119
62
U6
1*6
llfl
11*
Ik
1
k9
2-1/2
2-1/2
September
December
June
February
1967-72
1967-72
1978-83
1995
(taxable)
(taxable)
(taxable)
(taxable)
1,379
56
132
1,196
86
30
113
3k, 705
30,535
6,127
2-3A
2-1/2
2-lA
2-l/k
2-1/8
3-lA
3
Total Treasury bonds
Footnotes at end of Section II.
1,1*13
132
35
390
1,99k
liOl
132
1
11*3
11*0
"*75
11*2
171
231
8
35
1
1
kk6
3k8
57
793
70
17
k9
12,12k
12,28k
15
13
(Continued on following page)
k,553
1,57k
3*3
56
53
September
19%
1+1
.TREASURY SURVEY
Section
I
-
-
COMMERCIAL BANK OWNERSHIP, JUNE 30, 1956.
Interest -Bearing Securities Issued or Guaranteed by the United States Government
Table 3.- Public Marketable Securities by Issues - (Continued)
(Par values
-
In millions of dollars)
Treasury Bulletin
M-2
.TREASURY SURVEY
Section
II
-
-
COMMERCIAL BANK OWNERSHIP, JUNE 30, 1956
Interest-Bearing Securities Issued by Federal Agencies but
Not Guaranteed by the United States Government
(Par values - In millions of dollars)
September
19%
^
MARKET QUOTATIONS OH TREASURY SECURITIES, JUL* 31, 1956,
Current market quotations 6hown here are over-the-
public marketable securities Issued by the United States
counter closing bid quotations In the New York market
for the last trading day of the month, as reported to
Government except Panama Canal bonds. Outstanding
Issues which are guaranteed by the United States
the Treasury by the Federal Reserve Bank of New York.
The securities listed Include all regularly quoted
Government are excluded because they are not regularly
quoted In the market.
Table 1.- Treasury Bills (Taxable)
Amount
Treasury Bulletin
kk
MABKET QUOTATIONS OH TREASURY SECURITIES,
JUU
Table 4.- Taxable Treasury Bonds
(Price decimals are 32nds)
31, 1956.
September 195b
*5
MARKET QUOTATIONS ON TREASURY SECURITIES, JU1I 31, 1956,
o
or
.
.
Treasury Bulletin
1.6
.AVERAGE YIELDS OF LONG-TErM BONDS.
Table 1.- Average Yields of Treasury Bonds and Moody's Aaa Corporate Bonds by Periods
(Percent per aanun)
Hoodie Aaa
Taxable
Treasury
bonds 1/
Annual series
19k2.
2.1t7
19kk.
19k5.
2. 1.8
195Wan.
2.39
2.37
191*2
through 1952 - calendar year averages of monthly aeries
I9U6.
19k7.
2.83
2.73
2.72
2.62
2.1*6
2.53
2.61
2.82
2.66
2.19
2.25
2.kk
2.31
191*8.
191*9.
Monthly series January 1951 through March 1953
Feb..
Mar..
Apr.
May..
June.
2.1*0
2.1*7
July.
Aug..
Sept.
2.63
2.91*
2.57
2.56
2.88
2.56
2.63
2.65
2.81*
Taxable Treasury
bonds, due or
callable
From 10 to
20 years
Dec.
1952 -Jan..
Feb..
Mar..
Apr..
May..
June.
2.91*
20 yeare
and after
.93
,96
2/
From 10 to
20 years
-
2.92 1/
3.16
1953-Apr.
May.
June
July
Aug.
Sept
Oct.
Nov.
Dec.
2.96
3.09
3.11
2.99
2.99
2.95
2.81
2.83
2.77
3.21*
3.23
I95I1 -July.
3.26
3.29
3.25
3.22
3.19
3.06
3.31.
Aug..
Sept.
Oct..
Nov..
«
Dec.
57
1951* -Jan.
2.67
2.58
2.50
2.90
2.85
2.1*5
2.70
2.72
2.70
1955-^an..
Feb..
Mar..
Apr..
May..
June.
July.
Aug..
Sept.
2.66
2.72
2.72
2.77
2.76
2.77
2.88
2.91
2.S8
Monthly series beginning April 1953
Feb.
Mar.
Apr.
May.
June
2.52
2.53
3. 01*
2.96
2.73
3.28
3.21*
3.29
3.16
3.11
3.13
3.06
2.95
2.86
2.85
2.88
2.90
.93
2. 91*
20 years
and after
2.61
2.70
2.71
1952 -July.
Aug..
Sept.
Oct..
Not..
Dec..
2.95
2.9k
2.95
3.01
2.98
2.97
2.7"*
2.71
2.75
2.80
1953 -Jan..
Feb..
Mar..
3.02
3.07
3.12
2.83
2.89
Taxable Treasury
bonds, due or
callable
Moody's
Aaa
corporate
bonds
1*',
50
ja
5!
2.90
2.71
2.52
195"*.
2.68
Fran 10 to
20 years
20 years
and after
Moody's
Aaa
corporate
bonds
calendar year averages of monthly serlee
1953
3.1.0
.93
2.57
2.61
Taxable Treaeury
bonds, due or
callable
Moody's
Aaa
corporate
bonde
3.20
2.89
2.96
3.01
2.71
2.70
2.61.
2.62
2.86
2.96
2.32
2.57
1950.
1951.
1952.
averages of dally series
2.7"*
Annual series beginning 1953
k_/
-
2.61
2.66
2.70
1951-oct..
Not..
2.66
2.66
2.78
2.87
2.88
Moody's Aaa
corporate
bonds
Taxable
Treaeury
bonds 1/
Moody's Aaa
corporate
bonds
Taxable
Treasury
bonde 1/
corporate
bonds
-
2.80
1955.
2.91*
3.06
B5
88
2.96
2.96
2.97
3.10
3.10
3.15
a
2.91.
82
2.93
yo
2.98
3.10
3.11
3.C8
3.10
averages of dally series
2.62
2.60
2.61*
2.65
2.68
2.68
2.77
2.92
2.92
92
91
91
.*.
02
00
J
2.89
2.87
2.89
2.87
2.89
2.90
1955-Oct.
Nov..
2.93
2.99
3.02
3.01
3.04
3.05
3.06
3.11
3.13
Apr..
May..
June.
July.
Dec.
1956 -Jan.
Feb..
Max..
:-v
.05
2.91*
2.89
2.97
3.03
2.98
3.05
3.2l»
3.28
3.26
3.28
September 1956
^7
AVER/GE YTELDS OF LONG-TEFM BONDS
9>
-s
€
I
-Z
t
^
|
<t
.
. ..
.
'
Treasury Bulletin
ks
.INTERNAL REVENUE COLLECTIONS.
Table 1.- Summary by Principal Sources
(In thousands of dollars)
Fiscal year
or month
1947
19"*
1949
1950
1951
39,379,^09
41,853,485
39,1*8,607
51,106,095
*91,475
+660,409
1952
1953
1954
1955
65,634,894
70,170,974
70,299,652
66,288,692
75,109,1^3 P
271,023
1955-July
August....
September.
October...
November.
December..
2,763,245
5,222,865
4,840,772
1956 -January...
February..
March
4,580,146
6,903,381
12,307,01*
April.
, . .
M«7
June
Corporation
Income and
profits
taxes
21,1*66,910
21,59l*,515
33,738,370
37,254,619
21,51*6,322
18,261*,720
37,921,311*
11,345,060
11,403,942
10,736,578
10,396,480
11,830,260
1*0,1*63,125
38,957,132
50,W.5,686
11,553,669
10,854,351
H*,387,569
+625,308
+484,439
65,009.586
09,686,535
+3611,672
69 ,93l» ,980
MO
y
37,869,770
-3,166
75,112,6119
21,298,522
1*2,633,1*26
-186
-329
+515
2,801,416
51*7,085
1,377,399
5,1*03,908
327,903
1,099,882
391,600
292,961
1,1*9,274
1*,131,592
2,801,230
5,403,579
5,915,661.
5,915,H>9
2,763,21*5
5,222,883
4,840,772
4, 580, 11*6
1*21*
6,903,381
12,307,01*
5,355,168
6,793,435
12,222,93 "tp
9,501,015
9,464,204
7,996,320
7,264,332
9,907,539
9,676,1*59
10, 17l»,
66,288,692
Individual
Income tax
not withheld 2/
21,367,662
23,379,123
20,527,935
19,797,883
26,621*, 788
39,108,386
41,864,542
-11,057
-155,840
1*0,307,285
1956
Individual Income tax and employment taxes
Total
Adjustaent of collections
collections
reported 07
to budget
Internal
receipts 1/
Rerenue
Service
Budget
receipts
from
Internal
reTenue
5,355,168
-3,166
,
087
1*59,930
8,109,1*0
6,793,1*35
509,1*02
1*92,032
12,226,099
7,19l*,927
Individual
Income tax
withheld 1/
Old-age
Insurance
taxes i/
9,842,282
1,458,934
1,612,721
1,687,151
1,873,401
2,810,749
U.533,577
10,055,502
9,888,976
13,089,770
17,929,047
3,584,025
3,816,252
21,132,275
22,077,113
4,218,520
21,253,625 4/ 5,339,5731*/
29,844,187
Railroad
retirement
Unemployment
insurance
379,555
560,113
562,734
548,038
579,778
185,876
208,508
226,228
223,135
236,952
620,622
628,969
605,221
600,106 4/
634,323
259,616
273,182
283,882
279,986
324,656
1,082,063
3,916,372
2,122,696
1,279,762
2,433
15,711
768
2,106,708
15,484
84,834
59,882
18,060
84,769
54,691
2,152,316
798,117
816,843
1,101,560
4,374,889
2,358,022
17,300
85,058
53,870
31,850
241,146
5,880
2,685,373
989,755
1,486,663
1,046,882
4,203,932
2,522,223
15,268
91,356
53,751
4,045
2,499
1,294
3,922,284
2,512,590
277,418
U.4,674
1,684,684
179,957
94,426
350,034
3,303,026
5,499,210
3,234,615
3,951,569
5,287,542
4,063,931
3,868,030
1,1*81,638
3, 729,
on
3,859
14,014
1,156
Excise taxes
Capital
stock
tax 57
BBtate and
gift taxes
1,597
1,723
779,291
899,345
796,538
706,227
729,730
7,283,376
7,409,941
7,578,846
7,598,405
8,703,599
2,474,762
2,255,327
2,210,607
2,219,202
2,546,808
1,237,768
1,300,280
1,321,875
1,328,464
1,380,396
3,570,846
3,854,334
4,046,364
4,050,738
833,147
891,284
935,122
936,267
1,171,237
8,971,158
9,946,116
9,532,222
9,210,582
10,004,195
1,565,162
1,654,911
1,580,512
1,571,213
1,613,497
1955^Iuly
August
September.
78,612
77,189
66,390
796,536
866,458
881,277
2,549,120
2,780,925
2,797,718
2,742,840
2,920,574
231,241
245,081
255,820
115.T90
154,004
135,062
4,856,876
5,510,280
5,153,992
4,781,843
5,501,333
101,849
1,133,163
181,78;
October...
November
December.
.
67,816
87,673
89,449
822,264
919,365
789,115
288,949
291,947
211,282
138,266
136,044
112,660
1956-January . .
February
March
78,007
97,472
136,435
775,259
846,214
826,492
179,361
212,306
246,300
143,967
136,590
111,637
750,018
876,556
854,641
239,031
255,638
263,619
Fiscal year
or month
1947.
1948.
1949.
1950.
1951.
6,138
266
1952.
1953.
1954.
1955.
1956.
.
April.
May...
June .
Other excise
Total
Documents,
etc. 6/
excise
,
y
Source:
Internal Revenue Service reports for detail of collections by type
of tax; dally Treasury statement for budget receipts from internal
revenue through the fiscal year 1952, and the monthly statement of receipts and expenditures of the Government for receipts thereafter (for
explanation of reporting bases in these publications, sse page II).
Certain detail by type of tax is available only from returns filed with
the Internal Revenue Service. The figures ebovn include collections for
credit to special accounte for certain island possessions, as reported
by the Internal Revenue Service. Beginning with the fiscal year 1955,
they include the amounts of tax collected in Puerto Rico upon articles
of merchandise of Puerto Rlcsn manufacture coming Into the United
States. Figures for 1954 have been revised to the same basis. Figures
for previous ysars include only amounts collected at ports of entry
Into the United States.
1/ Dlfferencee between the amounts of internal revenue reported by the
Internal Revenue Service as collections for given periods and the amounts
reported in Treasury statements as budget receipts for the same periods
arose because of differences in the time when payments were Included in
the respective reports. Tax payments are Included in budget receipts
when they are reported as credits to the account of the Treasurer of the
United States. Prior to July 1954, they were included in Internal Revenue
Servioe collection reports after the returns to which they applied had been
received in internal revenue offices. Under procedure begun in 1950 with
withheld Income tax and old-age insurance taxes and later extended to
railroad retirement taxes and many excises, these taxes are paid currently
into Treasury depositaries and the depositary receipts, as evidence of
such payments, are attached to quarterly returns to the Internal Revenue
Service, Under this procod-ire, the payments are Included In budget
2/
37
4/
y
6/
r
"•,776,395
79,978
79,466
72,828
84,648
93,107
Manuf ac turers
and retailers' 'J
1,939,486
2,119,157
2,220,744
2,245,182
2,840,690
Miscellaneous 'J
1,551,381
1,655,711
1,752,792
1,720,908
1,842,598
84,995
90,319
90,000
112,049
114,927
2,824,409
3,358,797
3,127.465
3,177,160 r
3,777,909
25,136
977,064
4l4,598r
109,532
1,112,481
128,952
30,243
912,561
406,l62r
139,337
128,023
136,554
65,744
1,193,917
162,749
29,734
1,004,917
387,758r
125,957
149,229
lte.sra
44,455
1,013,317
253,388
29,814
883,367
1,947,472
2, 061, 164
1,936,527
1,492,633 r
1,608,497
397,980
receipts in the month In which the depositary recslpts sre Issued to
the taxpayers. Revised accounting procedures effective July 1, 1954,
extended the same practice to Internal Revenue Service collection
reports.
Monthly snd fiscal year 1956 figures Include old-sge insurance tax on
self -employment Income, which la levied and collected as part of the
Individual income tax beginning with the taxable year 1951. Previous
fiscal year figures exclude this tax, on the basis of estimates beginning 1952 (see footnote 3), and it Is included under "Old-sge
Insurance taxes."
withheld Income tax and old-age insurance taxes on employers and employees are paid into the Treasury In combined amounts beginning
January 1951. In Internal Revenue Service reports, current collections have not been separated as to type of tax but the breakdown
shown for fiscal years beginning 1951 Is based on estimates made In
accordance with provisions of Sec. 109 (a)(2) of the Social Security
Act Amendments of 1950, for transfer of tax recslpts to the Federal
Old-Age and Survivors Insurance Trust Fund.
Beginning with the fiscal ysar 1955, collections shown Include undistributed depositary receipts and unclassified advance payments.
For excise taxes these receipts are Included in the total only.
Total collections lncluds "Taxes not otherwise classified," which
were Included with miscellaneous excise taxes prior to the August
1956 Issue of the Bulletin.
(See Table 2).
Repealed for years ending aft*r June 30, 1945. Beginning 1951,
included under "Miscellaneous excise taxes."
Detail is reported by quarters beginning with the fiscal year 1956.
Revised.
p Preliminary.
September 1956
k3
.INTERNAL REVENUE COLLECTIONS.
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
Fiscal Years
DOLLARS
Billions
60
40
20
1941-56
Treasury Bulletin
50
.INTERNAL REVENUE COLLECTIONS.
Table 2.- Detail of Collections by Type of Tax
(In thousands of dollars)
September 195b
51
.INTERNAL REVENUE COLLECTIONS.
Table 3.- Detail of Specified Excise Tax Collections Reported Quarterly
(In thousands of dollars)
Fourth quarter of
fiscal year
year
Fiscal,
Type of tax
195k
1955
1955
1956
1956
(Apr. -June 1955)
(Apr. -June I956)
Documents, other instruments, and playing cards:
Bends, Issues and transfers of capital stock, deeds of
conveyance , etc •••...•...•
.............
Playing cards
Silver bullion sales or transfers....*
•••
83,035
105,289
6,700
60
108,031
2k
Total documents , etc . , taxes
90,000
112, 0k9
,
,
6,91.1
53
29,705
1,592
10
28,201
1,607
6
111*, 927
31,307
29, 8lk
6,81*3
1
Manufacturers' excise tales:
Lubricating oils
Gasoline
Tires and tubes
Automobiles trucks and buses
Other automobiles and motorcycles
Farts and accessories for automobiles
Electric, gas, and oil appliances
Electric light bulbs and tubes
Radio sets, phonographs, television setB, components, etc.
Phonograph re cords
Musical instruments
•
Mechanical refrigerators, air-conditioners, quick-freete
units, etc
Matches
Business and store machines
Photographic apparatus
.,
•
Sporting goods
Firearms, shells, and cartridges
Pistols and revolvers
Mechanical pencils, pens, and lighters
,
Total manufacturers' excise taxes
68,029
836,893
152,567
69,818
95k,678 r
16U,316 r
13k,&05
11.9,911.
867,1*82
13l»,759
l,Ol»7,8l3
136,709 r
50,859
18,673
136,8U9
8,287
10,783
97,kl5
35,390
135,535
8,kk5
9,191
38,00k
5,808
57,281
15,157
75,059
9,373
148,992
25,196
12,766
10,266
975
10,885
2,689,133
13,1*60
12,1*01
91*9
8,366
2,885,016 r
7l*,581t
1,030,397
177,872
17,660 r
222,623 r
k6,737 r
189,1*3''
36,61*1*
1,376,372
368,1*1*5
11*5,797
71,061*
22,851*
161,098
12,321*
12,776
1*9,078
6,160
70,11*6
17,373
13,653
H.302
1,153
9,576
3,1*56,013
3"*,170 r
19,33k
k,662
33,003
1,78k
2,6lk
lk,703
1,730
16,09k
2,899
2,3k5
2,500
103
17,1*82
235,190
kl,368
5k,6k9
323,120
31,396
18,656
6,009
3k, 909
2,978
3,2k8
13,153
1,733
18,16k
3,lk6
k,062
2,167
360
2,223
1,21*9
829,299 r
8lk,015
Retailers' excise taxes:
Furs
Jevelry
Luggage
Toilet preparations
39,036
209,256
79,891
110, 1U9
Total retailers' excise taxes......
"t38,332
Miscellaneous excise taxes:
Sugar Act of 1937
Telephone, telegraph, radio, and cable facilities. ........
Local telephone service
Transportation of oil by pipe line
Transportation of persons , etc
Transportation of property
Leases of safe -deposit boxes
Admissions to theaters, concerts, etc........
Admissions to cabarets, roof gardens, etc
Club dues and initiation fees
Bowling alleys, pool tables, etc
Coin operated devices
......••.
Adulterated and process or renovated butter, and filled
cheese
Narcotics, including marihuana and special taxes....
Coconut and other vegetable oils processed
National Firearms Act
Diesel oil 1/
Wagering taxes
........•...•••.
•
All other, including repealed taxes not shewn separately.,
,
Total miscellaneous excise taxes...
Total of specified excise taxes 2/
,
7l»,l»77
28,261
152,3kO
57,519
83,776
6,691
28,530
9,385
16,256
6,829
30,561
11,858
20,105
292,11*5
321,896
60,862
69,352
82,891.
17,983
30,309
l8,8kk
61,615
81,195
10,077
k9,387
109,981
1,676
23,666
10,3k5
lk,0kl
609
3,8k3
78,512
230,251
290,198
33, *58 r
200,1*65 r
398,039 r
5,553 r
106,086
39,271
1*12,508
359,k73
29,730
2k7,kl5
395,55k
9,0U9
271,952
38,312
31,978
3,227
lit
50,896
71,829
27,053
11*2,366
1*1,963
3,361*
,616
ll»,99l*
12
23
993
918
16,266
8
17,969
9,558
3,505
18,950
11
22,692 r
7,807
1. r
1,936,527
5,153,992
1*,
Source: See Table 2.
1/ Applies to dleeel fuel, including special motor fuels, used in highway
vehicles.
21*1,51*3
315,690
35,681
86,61*6
r
r
1*2,255
1»7,171
3,220
1*9, 90k
99,099
1,619
23,321
9,890
32,188
2,955
lk,2k6
71k
3,271
15
1,002
18,535
3
2
366
k,698
38k
k,857
211*, 903
1*50,579
5,512
10k, 018
r
r
1
11
3
2k,k6k
7,025
k,65k r
1,857
1 r
1,1*92,633 r
1,608,1*97
3 k9,7kk r
397,980
781, 8U3 r
5,501,333
1,271,212 r
1,311,161
2/
•
r
See "Other excise taxes" in Table 2.
Less than $500.
Pevlsed.
5,719
1,73k
.
.
.
Treasury Bulletin
52
.MONETARY STATISTICS.
Table 1.- Money in Circulation
(In millions of dollars except as noted)
Paper money
&*i of fiscal
year or month
Total
money In
circulation 1/
Total
paper
money
Sold
certificates
Federal
Reserve
Bank
notes
National
bank
notes
Federal
Reserve
notes
2,06l
2,177
2,092
2,088
2,122
319
321
318
318
318
23,209
22,760
23,k56
2k, 605
25,609
27k
2k3
221
200
320
319
318
25,385
25,618
26,055
180
163
lk7
67
6k
icates
U
Treasury
notes of
1890
37
United
States
notes
SllTer
certif-
y
y
309
93
86
19*9
1950
1951
1952
1951
27,k93
27,156
27,809
29,026
30,125
26,03k
25,661
26,231
195k
1955
19J6
1955-Dec ember
29,922
30,229
30,715
28,127
28,372
28,767
35
3*
33
2,135
2,170
2,lk8
31,158
29,231
3*1
2,155
31k
26,506
155
66
1956 -January.
February
March...
30,228
30,163
30,339
28,331
28,263
28,125
3".
2,052
2,071
2,125
306
311
315
25,720
25,628
25,73k
15k
152
151
65
April...
May
June.
30,210
30,513
30,715
30.60U
28,289
28,575
28,767
28,6k7
315
318
313
25,102
25,853
26,055
lk9
33
2,123
2,157
2,lk8
lk7
65
6U
6U
33
2, Ilk
313
25,975
lk5
6k
.
.
July
End or fiscal
year or month
27,3148
28,359
Total
coin
k3
111
39
38
37
3"»
3*1
31*
3k
Standard
silver
dollars
Subsidiary
silver
Minor
coin
81
77
73
70
65
65
II18
Money In
circulation
per capital
(in dollars) 57
19k9
1950
1951
1952
1953
I,k59
l,k96
1,578
1.678
1,766
9k0
965
1,020
1.091
1,150
3 5
18k. 33
170
ISO
191
202
361
378
393
kl3
179.03
I&O.17
18k .90
188.72
195k
1955
1956
1,795
1,858
l,9k8
212
223
237
1,105
1,202
1,259
U19
k33
k53
182.91
182.73
1955 -Doc ember.
1,927
231
l,2k6
kkg
186.11
1956-January
February.
March
1,897
1,900
1,91k
230
231
232
1,221
1,22k
1,235
U.5
W.5
W16
181.0k
April
May
June
1,922
1,939
l,9k8
233
235
237
l,2kl
1,253
1,259
W18
k51
k53
180.20
181.78
182.73
July
1,957
239
1,262
k56
181.80
.
source:
i/
2/
16 k
Circulation Statement of United States Money.
37
ficcljdos money held by the Treasury, money held by or for the accouit
of the Federal Reserve Banks and agents, and coin estimated to be
held outside the continental limits of the United States. Includes
paper currency held outside the continental limits of the United
States.
Gold certificates were withdrawn from circulation in 1933.
k/
57
r
2
lo4.21i
180. U2
lBl.19
:
Treasury notes of 1890 in circulation are being canceled and retired
upon receipt by the Treasury,
Federal Reserve Bank notes and national bank notes are covered by
deposits of lawful money end are in process of retirement.
Based on latest population estimates by the Bureau of the Census
Revised.
September
5
U
..
63
19%
53
.MONETARY STATISTICS.
Table 2.- Monetary Stocks of Gold and Silver
(Dollar amounts In ml 111 one)
Gold
Sid of fiscal
year or month
(*35 per
fine ounce)
191*9
2l*,l*66.3
1950
1951
1952
1953
2l*,230.7
21,755.9
,
195>*
1955
1956
,
,
SllTer
(»1.29+ per
fine ounce)
3,618.3
3,671.5
3,718.5
3,768.5
Patio of ellTer
to gold and
silver In
monetary stocks
(In percent)
12.9
13.2
1U.
23,31*6.5
22,1*62.8
3, 811* .3
13.9
1*.5
21,927.0
21,677.6
21,799.1
3,863.1
15.0
3,922.1*
3,99l>.5
15.3
15.5
1955-Dec ember.
21,690.
3,930.1
15.3
1956-January
February.
March
21,692.9
21,695.2
21,715.7
3,938.7
3,9te.l
15A
April
May
June
21,71*3.1
3,955.6
21,771.6
21,799.1
3,973.1.
3,99*..5
July
21,829.6
1*,
.
Source: Circulation Statement of United States Money.
silver monetary stock see Table h.
Table 3.-
3.9W.2
009.6
15.1.
15.lt
15.1.
15.1.
15.5
15.5
For detail of
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
End of calendar year or month
Gold assets
191*9
21*, 1*27.1
1950
1951
1952
1953
22,706.1
22,695-5
23,187.1
22,029.5
1951*
21,712.5
1955
21,690.1*
1956 -January.
February.
March. . .
Liabilities:
Gold certificates,
etc. 1/
Balance of gold In
Treasurer's account
23,373.9
21,653.5
21,662.5
22,178.8
1,053.2
1,052.6
1,032.9
1,008.2
21,51*5.7
1*83.7
21,223.5
21,199-1
1*89.0
1*91.2
21,692.9
21,695.2
21,715.7
21,200.1*
1*92.5
21,200.9
21,225.9
1*91*.
21,71*3.1
21,21*0.6
21,271*.
1*89.8
April
May
June
21,771-6
21,799.1
21,298.2
500.9
July
21,829.6
21,31*0.6
1.88.9
Source: Circulation Statement of United States Money.
1/ Comprises (1) gold certificates held by the public and In Federal Reserve
Banks; (2) gold certificate credits In (a) the gold certificate fund -
502.5
1*97.1
Board of Governors, Federal Eeeerve System, and (b) the redemption
fund - Federal Reserve notes; and (3) reserve of $156.0 million
against United StateB notes and Treasury notes of 1890.
Treasury Bulletin
5^
.MONETARY STATISTICS.
Table 4.- Components of Silver Monetary Stock
(In millions of dollars)
..
9
2
5
7
5
7
3
r
9
September 1956
55
.
MONETAKY STATISTICS
,
Table 5.- Seigniorage on Silver
(Cumulative from January 1, 1935
-
In millions of dollars)
Sources of seigniorage on sliver bullion revalued 1/
End of calendar
ysar or month
Seigniorage
on coins
(silver and
minor)
Miac. silver
(lncl. Bllver
bullion held
June
lit,
I93I1)
Newly mined
silver (Proc.
Dec. 21, 1933)
Newly mined
silver (Acts
July 6, 1939,
and
July 31, 19<*6)
Silver Purchase Act
of June 19,
193
1
*
Natlonallled
silver
(Proc. of
Aug. 9, 193M
63.7
69.5
91.7
1*8.7
16.8
36.0
58.0
226.2
302.7
366.7
1*8.7
71*.
1*57-7
3*. 7
1*8.7
87.3
i*.a
530.7
122.2
182.1
1*8.7
562.7
191*2
21*5.7
1*8.7
19113
299.6
368.3
1*8.7
V)kk
87.6
87.6
87.6
87.6
87.6
25.7
19U1
19>*5
129.5
1*8.7
1*8.7
87.6
87.5
87.6
87.6
87.6
1935
1936
1937
1938
1939
18.5
1*8.7
1*8.7
1*6.1
19W
1*8.7
1*8.7
i9<*6
!*91.9
19^7
1*8.7
19U9
520.5
559.2
578.7
1950
1951
1952
1953
596.6
1*8.7
61*2.3
6911.
7>»2.2
1*8.7
19<*S
195"t
1*8.7
1*8.7
1*8.7
1*8.7
1*8.7
792.9
807.0
1955
1955-July
August , .
September
.
October.
November.
December.
801.1*
1*8.7
]
802.3
803.6
8ol*.9
1956 -January..
February
March....
805.8
807.O
808.2
809.8
812.1
April
May
June p...
815.7
818.8
819.7
:
758.8
950.6
31*.
759.1*
3*. 7
5»*.3
3*. 7
65.1*
581*. 3
3"»-7
799.7
818.9
820.6
820.7
65.5
66.5
701.6
832.1
832.1
832.2
833.6
8». 6
93.5
31*.
31*.
3l».
3l»-7
3"*.
101*. 7
833. 7 r
31*.
111* .6
833.7
833.7
833.7
633.7
r
3l».
r
3l>.7
125.1*
13'>.7
11*3.8
150.8
87.6
87.6
87.6
150.7
150.8
150.8
1*8.7
1*8.7
1*8.7
87.6
87.6
87.6
151.0
151.5
152.1
1*8.7
87.6
87.6
87.6
152.2
152.6
153.2
150.0
150.2
Source:
Bureau of Accounts.
1/ These Items represent the difference between the cost value and the monetary
value of sliver bullion revalued and held to secure sllrer certificates.
31*.
508.1
616.0
705.6
31*.
1*8.7
1*8.7
1*8.7
1*8.7
397.5
31*.
581*.
11*9.1*
U8.7
1*22.1
580.1.
87.6
87.6
87.6
1*8.7
326.2
31*.
1*8.3
1*8.7
1*8.7
31*.
63.6
65.3
71*.
87.6
87.6
87.6
87.6
87.6
87.6
Total
seigniorage
on sliver
revalued
:
'
i
"
1
'
2/
r
Potential
seigniorage on
sliver bullion
at cost in
Treasurer's
sccount 2/
271*.
51*1.6
1,055.8
1,089.0
1,01*8.2
967.3
717.3
938.1
1,069.6
1,077.6
1,087.8
1,098.1
333.2
161.2
1U6.8
129.9
127.2
1,109.3
1,119.2
1,130.0
1,139.3
r
31*.
r
833 .7 r
3"*.T
1,11*8.1*
111.7
6I.9
57.2
3^.9
6.6
31*.
1,155.1*
1*.3
833.7 r
833.7 r
833.7 r
1
3*>.
7
3l>.7
3>*.7
833.7 r
833.7 r
833.7 r
3"t.7
3l>.7
833.7 r
833.7 r
833.7 r
3U.7
833.7 r
833 .7 r
833 .7 r
3"».7
3>*.7
3I..7
3^-7
31*.
3l*.7
,1
.
l,15l< .6
1,151*. 8 r
12.7
10.6
9.7
1,155.3
11.3
1,155.1*
1,155.1*
11.5
1,155.6 1
1,156.1 r
1,156.7
17.1
16.9
1*.5
1,156.6
1,157.2
1,157.81
17.5
22.9
31.1
ll*.3
The figures in this column are not cumulative; as the amount of
bullion held changes, the potential seigniorage thereon changes,
Revir.ert
for v ounrtin£.
Treasury Bulletin
56
.CAPITAL MOVEMENTS
.
pages U5— U-7.
Data relating to capital movements between the
As a result of changes
In presentation
United States and foreign countries have been collected
since 1935, pursuant to Executive Order 6560 of January 15,
Introduced In that Issue, not all breakdowns previously
published will be exactly comparable to those now presented.
I93U, Executive Order IOO33 of February S, 19^9. and
Treasury regulations promulgated thereunder. Information
covering the principal types of data and the principal
countries Is reported monthly, and Is published regularly
monthly.
The first three sections which follow are published
They provide summaries, by periods and by
oountrles, of data on short-term banking liabilities to
and claims on foreigners and transactions In long-term
securities by foreigners, and present detailed breakdowns
Supplementary Information 1b
published at less frequent Intervals. Reports by banks,
bankers, securities brokers and dealers, and Industrial
In the "Treasury Bulletin."
of the latest available preliminary data.
and commercial concerns In the United States are made
Initially to the Federal Reserve Banks, which forward
Section IV provides supplementary data In five tables
which appear at less frequent Intervale. Table 1, shortterm foreign liabilities and claims reported by non-
Beginning April 195 *,
consolidated figures to the Treasury.
data reported by banks In the Territories and possessions
of the United States are Included In the published data.
1
flnanclal concerns,
Is published quarterly In the January,
April, July, and October Issues of the Bulletin.
official Institutions of foreign countries, wherever
such Institutions may be located, and International
organizations.
"Short-term" refers to original maturities
of one year or less,
and "long-term" refers to all other
maturities.
A detailed discussion of the reporting
presentation, and definitions
statistical
coverage,
appeared In the June I95U Issue of the "Treasury Bulletin,"
Section
I
-
September, and December Issues.
Table
4,
foreign credit
and debit balances In brokerage accounts appears semiannually In the March and September Issues. Table 5,
short-term liabilities to foreigners In countries and
,
areas not regularly reported separately by banking Institutions, Is presented annually In the April Issue.
Summary by Periods
(In millions of dollars; negative figures indicate a net outflow of capital from the United States)
Analysis of net capital movement
Calendar year or month
2,
and dollar holdings of foreign countries and International
Institutions, are published quarterly In the March, June,
Table I.- Net Capital Movement between the United States and Foreign Countries
Net
Table
long-term foreign liabilities and claims reported by
banks and bankers, and Table 3, estimated gold reserves
The term "foreigner" as used In these reports covers
all Institutions and Individuals domiciled outside the
United States and Its Territories and possessions, the
9
..
.
September
19%
57
.CAPITAL MOVEMENTS.
Section I - Summary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(Position at end of period in minions of dollars)
Short-term Habllltlea to foreigners
Eiid
Payable In dollars
of calendar year
or month
Foreign
official
1942
1943
1944
1945
1946
,205.1t
,371*.
,596.8
,883.1
,1*0.3
1947
1948
1*9
1950
1951
2,244.4
3,320.3
3,335.2
•,179.3
3,01*3.9
Other
foreign
International
1,91*7.1
2,036.7
2,239.9
2,678.2
2,922.0
,116.U
,718.0
,618.0
,644.8
,302.2
1,832.1
2,836.3
2,908.1
3,620.3
2,972.7
3,51*7.6
1*,
,5"<6.1
2,91*7.0
3,001.0
3,1*51.7
01*1.2
Short-term claims on foreigners
Payable In dollars
Payable in
foreign
currencies
Loans to
foreign banks
13.9
17.9
21.6
25.5
40.6
246.7
257.9
329.7
392.8
2,262.0
1,864.3
1,657.8
1,527.8
1,641.1
49.7
Payable In
foreign
currencies
72.0
86.4
105.4
100.3
319.6
143.7
137.2
169.7
245.0
290.5
30.9
34.4
54.6
47.5
98.1
292.9
51.0
44.9
72.2
948.9
1,018.7
827.9
898.0
968.4
361.2
222.7
151.1
177.2
490.6
557.1
494.3
506.3
699.4
165.4
100.4
110.8
240.6
91.8
1,584.9
1,629.4
1,769.9
1,881.1
61.4
43.7
43.2
40.3
1,048.7
904.5
1,386.5
1,548.5
122.9
156.5
206.5
328.1
847.5
646.5
969.0
1,056.5
78.4
101.6
211.0
163.9
1,860.8
1,858.6
1,844.2
44.8
40.0
43.7
1,416.4
1,429.4
1,405.5
231.9
262.3
253.3
1,041.4
1,030.3
1,016.6
143.2
136.8
135.6
473.7
70.4
708.3
1952
1953
1954
1955
U, 651* .2
1*
,61*8.1.
5,666.9
1*,308.1*
,922.5
,599.8
6,77l*.0
1*
6,953.2
l»,
725.1
1955 -July
August. .
September
,1*1.7
,047.3
,339.8
6,658.0
1*,
578.0
6,806.0
>*,596.3
4,61*5.9
October.
November.
December
,573.7
,645.6
,599.8
6,890.3
6,964.3
6,953.2
4,806.8
4,814.6
4,725.1
1,825.4
1,822.6
1,881.1
51.2
44.1
40.3
1,427.7
1,473.2
1,548.5
274.0
298.3
328.1
1,022.5
1,047.7
1,056.5
131.3
127.3
163.9
4,842.0
4,906.5
5,007.4
1,867.4
1,875.6
1,894.5
41.4
38.9
56.1
1,503.1
1,515.3
1,509.8
315.3
302.O
292.O
1,073.4
1,083.7
1,092.5
114.4
129.7
125.3
5,125.3
5,030.9
5,145.5
1,978.4
1,999-4
2,007.0
47.2
50.3
49.5
1,527.1
1,611.6
1,635.0
323.8
339.7
325.3
1,074.6
1,132.3
1,159.5
128.7
139.6
150.2
737.0
6,986.1
,869.1
7,01*8.1
March
,31*6.8
7,368.8
April
May p
,>>79.>>
7,328.1*
,516. it
7,435-7
,638.9
7A36.9
1956 -January .
February.
.
June p .
p
6,552.1*
.
,21*5 .6
,335.1*
Preliminary.
Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In millions of dollars; negative figures Indicate a net outflow of capital from the thited states)
Treasury Bulletin
58
.CAPITAL MOVEMENT.;.
Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Foreign Securlt lee by Foreigners
(In nllliono of dollars; negative figures indicate a net outflow of capital from the United States)
September 1956
59
.CAPITAL MOVEMENTS.
Table
1,
Section II - Summary by Countries
Short-Term Banking Liabilities to Foreigners^
(Position at end of period In million* of dollars)
Country
Treasury Bulletin
6o
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 2.- Short-Term Banking Claims on Foreigners
(Position at end of period In mllllona of dollars)
September
19%
61
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 3.- Net Transactions in Long-Term Domestic Securities by Foreigners
(In thouaanda of dollars; negatlre figures Indicate net Bales by foreigners or a net outflow of capital from the United states)
Treasury Bulletin
62
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 4.- Net Transactions In Long-Term Foreign Securities by Foreigners
(In thousands of dollars; negative figures Indicate not eales by foreigners or a not outflow of capital from the United States)
Country
September
19%
63
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countries
Table 1.- Short-Term Banking Liabilities to Foreigners as of July 31, 1956
(Position In Unround* of dollars)
Treasury Bulletin
61+
,
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of June 30, 1956
(Poeition In thousands of dollars)
September
19%
65
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countries
Table 3.- Purchases and Sales of Long-Term Securities by Foreigners during June 1956
(In thousands of dollars)
Country
Treasury Bulletin
66
.CAPITAL MOVEMENTS.
Supplementary Data by Countries
Llabl 1 1 ties to and Claims on Foreigners Reported by Banks and Bankers
Section IV
Table 2.- Long Term
if
-
(Foaltlon at end of period In thouaanda of dollare)
Llebllltiee to forelgnere %J
.
..
.
[9%
September
67
.CAPITAL MOVEMENTS
Section IV - Supplementary Data by Countries
Table 3.- Estimated Gold Reserves and Dollar Holdings of Foreign Countries
and International Institutions
(Position at end of period in millions of dollars)
195*
1955
June
Area and country
Continental Western Europe:
Austria
Belgium-Luxembourg (and Belgian Congo)
Denmark
Finland
France (and dependencies) 1/
Germany, Federal Republic of
Greece
Italy
Netherlands (and Netherlands West
Indies and Surinam)......
Norway
Portugal ( and dependencies )
Spain (and dependencies)
Sweden
Switzerland
Turkey
Other 3/
Total Continental Western Europe
Sterling Area:
United Kingdom
Unl ted Kingdom dependenc lea
Australia
India
Union of South Africa
Other
Total sterling area
Gold and
shortterm
dollars
329
l,0**r
102
,
,
,
10
72
1,328
161
1,999
12*
925
10
1,118
1*8
560
188
*06
2,185
152
9*7
Total Latin America.
shortterm
dollars
12
10
6
5
160
3*1
l,l*9r
95
73
1,593
Gov't,
notes
12
10
7
5
161
2,250
1*5
1,105
*1
36
*
1,07*
113
Gold and U. S.
ehortGov't,
bonds and
dollars notes
bonds and term
322
l,201r
91
8*
1,986 2/
2,37*
187
1,137
*1
53
1,100
12*
601
221
*29
2,35*
10
10
7
5
151
Gold and U. S.
shortGov't,
term
bonds and
dollars notes
313
1,2**
102
80
2,028
2,*87
19*
1,158
10
kk
1,1*3
96
22
69
•
53
»
6
12,207r
32*
12,790r
3*5
13,2*Or
3*3
13,621
3,190
103
186
216
280
2,598
86
219
282
11
1
1
3
320
265
202r
2,816
91
230
330
3
2,800
100
210
339
251
19*r
286
331*
3,139
102
20*
3U4
2*2
l8*r
*,215r
289
3,89*r
302
3,6921
295
3,920
25*
2,381
262
2,320
397
2,173
*37
2,305
369
511
27
538
1*1
222
2
232
178r
1
38
*
*
3_
225
93
571
225
383
2,170
156
1,2*2
3
*2
It
*
•
1
1
528
12*
UU2
2
I169
136
1
129
18*
*31
83
79
78
*19
1*9
*23
82
2
*
7*
118
317
597
135
1
10
8*
118
291
66U
138
3,673
1*6
3,707
1
3
3
**
153
1,273
536
26
391
•
581
237
*11
2,197
28
188
181
169
851
266
236
521r
Total Asia
Eastern Europe
2,22*r
5_/.
Other countries:
Egypt
Other
Total other countries.
Total foreign countries
International
Grand total.
.
5
6
8
61
70
*8l
153
876r 27
11
#
1
1
389
77
*
556
*
1
86
127
1
1
52
72
12
1*
281
668
12*
17*
3,7*9
19*
3,789
1
3
169
169
*
1
3
16
15
3
201
17*
992
266
235
62 lr
3
255
175
1,029
266
250
6**r
28
2,*89r
28
2,621r
196
190
88*
263
2*3
602r
15
2,378r
•
3
6
1
*
3
6
1
309
311
307
306
221
68
22*
8*
23*
87
2*6
289
306
321
325
2*,96lr
7*6
_g5,507r
3,510
35*
3,599
28,*71r
1,100
29,106r
1,085
317
1,*02
Note: "Gold and short-term dollars" Include reported and estimated official
gold reserves, and official and private short-term dollar holdings (principally deposits and U. S. Government securities with an original maturity
of one year or less) reported by banks In the United States. "U. S. Government bonds and notes" include estimated official and private holdings
of U. S. Government securities with en original maturity of more than one
year; estimates are based on a survey of selected United States banks and
on monthly reports by banks and brokers of securities transactions.
1/ Includes gold reeervee of Bank of France and French dependencies only.
25,870r
3,595
29,*65r
320
1,59*
26,lU8r
3,689
29,83Tr
7
2*1
372
79
7*
91
583
1
167
82
15
127
289
627
1*7
1*
195
3,910
192
15
236
M
*
166
1,092
285
263
658
30
2,700
3
*
6
1
79
1,27*
3
*
70
*
198
509
26
*66
139
217
85
12*
277
662
1*0
*
3
*
Asia:
Indonesia
Iran
Japan
Philippines
Thailand.
Other.
10
12
6
260
3
72
59
62
Peru
Uruguay
Venezuela
Other
Sold and U. S.
ll,627r
1(23
Panama, Republic of.
u. s.
Gov't,
bonds and
notes
2,155
138
992
1,072
116
531
32
**2
112
308
Cuba
Dominican Republic
EL Salvador
G uatemala ..........
Mexico
325
l,lllr
85
69
1,397
December
606
216
***
2,3*1
15*
1,015
2,616
Latin America:
Argentina
Bolivia...
Brazil
Chile
Colombia.
12
7
3
lt,223r
Canada .........
U. S.
Gold anl
Gor't.
shortbonds and term
notes
dollars
1956
September
1,308
321
1,629
1
3
Treasury Bulletin
6S
.CAPITAL MOVEMENTS.
Section IV - Supplementary Data by Countries
Table 4.- Foreign Credit and Debit Balances In Brokerage Accounts^
(Position at end of period In thousands of dollars)
1/
Subsequent to Fetiruary 195 *, data have been collected semiannually, as ol
Previous monthly data may
June 30 and December 31, rather than monthly.
be found In Issues of the "Treasury Bulletin" through May I951*.
1
2/
p
Hot reported separately prior to March 195*.
Preliminary.
September
19%
69
.CUMULATIVE TABLE OF CONTEWrS.
October 1955 through September 1956
Treasury Bulletin
70
.CUMULATIVE TABLE OF CONTENTS.
October 1955 through September 1956
-
(Continued)
Issue and page number
1956
1955
Jan.
Feb.
Mar
Apr.
May
June
July
Aug.
Ownership of Federal securities:
Distribution by classes of investors and types of Issues
Ret market purchases or sales for Investment accounts handled by
the Treasury
Eatlaated ownership
31
32
u
31
32
32
31
33
34
33
31
37
32
33
38
33
33
uo
51
32
37
38
32
33
33
33
33
34
38
39
34
34
40
41
a
39
34
35
40
35
35
>v
48
Treasury survey of ownership of Federal securities:
Ownership by banks, Insurance companies, and others
Ownership by commercial banks classified by membership In Federal
Reserve System (latest date June 30, 1956)
33
38
Market quotations:
aid -of -month closing quotations on Treasury securities by Issues.
Chart
-
Yields of Treasury securities
37
39
38
40
37
39
37
43
42
39
45
44
39
41
44
46
39
41
39
41
40
41
41
42
4o
40
41
46
47
45
46
42
43
47
48
42
43
42
49
4]
43
50
42
43
42
48
50
51
44
45
46
47
51
43
44
45
46
44
44
47
48
49
50
49
"•3
45
46
53
47
52
48
48
49
50
53
53
48
49
49
50
51
47
48
48
49
50
46
Average yields of long-term bonds:
Average yields of Treasury and corporate bonds by periods.
Chart - Average yields of Treasury and corporate bonds....
Internal revenue collections:
Summary by principal sources
Chart - Internal revenue collections by principal sources
Detail of collections by type of tax
Detail of specified excise tax collections reported quarterly.
44
43
44
49
50
45
46
46
47
k8
51
52
l»5
sa
Monetary statistics:
Money In circulation
Monetary stocks of gold and sliver
Cold assets and liabilities of the Treasury
Components of silver monetary stock
Seigniorage on silver
Increment from reduction In weight of gold dollar (latest date
44
1*5
"•5
46
47
45
46
46
47
48
June 30, 1956)
Exchange Stabilization Fund (latest date March 31, 1956
46
47
47
46
49
49
52
53
54
51
52
52
53
54
54
55
54
55
55
56
57
54
55
57
55
56
57
58
):
Balance sheet
Income and expense
49
50
59
National bank reports:
Earnings, expenses, and dividends for calendar years 1953-55
51
,
Capital loveaents between the United States and foreign
countries:
Summary by periods since 1935
Summary by countries and periods
Short-term banking liabilities to foreigners, latest month
Jhort-term banking claims on foreigners, latest month
Purchases and sales of long-term securities by foreigners,
latest month
Short-term liabilities and claims reported by nonflnanclal concerns.
Lcng-term liabilities and claims reported by banks and bankers
Estimated gold and short-term dollar resources of foreign countries
and international Institutions
Foreign credit and debit balances In brokerage accounts
Short-term liabilities, countries and areas not regularly reported.,
,
,
,
,
48
51
55
56
57
58
50
51
54
58
59
57
58
60
59
49
37
65
58
59
66
61
,
57
60
64
53
56
58
62
63
51
54
58
59
64
60
61
58
58
52
60
61
65
66
5!
59
SO
55
59
60
67
68
67
61
61
69
62
'65
66
68
03
62
Corporations and certain other business-type activities:
Balance sheets and loans by type (latest date December 31, 1955)...,
Income and expense (latest date December 31, 1955)
Source and application of funds (Latest date December 31, 1955)
So
59
61
69
63
68
76
Financial statements of business-type activities
(March 31 1936):
cmary ' financial loodltlon of •paolflad ettrltlag
Financial condition of public enterprise and lntragovemmental funds
Financial condition of certain other activities
Financial condition of certain deposit funds
Financial condition of certain trust revolving funds
Cross loans outstanding, classified by typo of loan
71
72
86
87
88
89
GP0
397 60
bytaM
Treas.
HJ
U.S. Treasury Dept.
10
.A2
Treasury Bulletin
1956
c.2
\
@FedFRASER