Treas. HJ 10. A2 c.2
LIBRARY ROOM 30
COFY No.2
LIBRARY
JUN 9 1 1972
TREASURY DEPARTMENT
BULLETIN
OF THE
TREASURY DEPARTMENT
APRIL 1939
Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics
REFERENCE To be used in Treasury Library
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
LIBRARY ROOM 5030
JUN 2, 1972
TREASURY DEPARTMENT
BULLETIN
OF THE
TREASURY DEPARTMENT
APRIL 1939
Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics
TREASURY DEPARTMENT OFFICE OF THE SECRETARY
Table of Contents
Receipts and Expenditures
<table><tr><td>First Nine Months of Fiscal Years 1934-39</td><td>2</td></tr><tr><td>Expenditures by Classes, Receipts by Sources</td><td>3-7</td></tr><tr><td>Social Insurance Accounts</td><td>8-9</td></tr><tr><td>Cash Income and Outgo</td><td>10</td></tr><tr><td colspan="2">General Fund and Public Debt</td></tr><tr><td>Composition of the General Fund</td><td>13</td></tr><tr><td>Composition of the Public Debt</td><td>14</td></tr><tr><td>Net Market Transactions of Treasury Investment Accounts</td><td>14</td></tr><tr><td>Holdings of Government Obligations</td><td>16</td></tr><tr><td>Computed Interest and Yields on Public Debt Issues</td><td>17-19</td></tr><tr><td colspan="2">Government Corporations and Credit Agencies</td></tr><tr><td>Assets, Liabilities and Proprietary Interest</td><td>21</td></tr><tr><td>Sources and Uses of Funds</td><td>22-23</td></tr><tr><td>Issues Outstanding</td><td>24</td></tr></table>
International Capital Movements
<table><tr><td>Summary Table</td><td>26</td></tr><tr><td>Short-term Foreign Assets and Liabilities</td><td>28-29</td></tr><tr><td>Security Transactions and Brokerage Balances</td><td>30-31</td></tr><tr><td>Foreign Exchange Transactions</td><td>32-33</td></tr><tr><td colspan="2">Other Monetary Data</td></tr><tr><td>Gold and Silver Stocks</td><td>35-37</td></tr><tr><td>Silver Production, Movements and Seigniorage</td><td>37-38</td></tr><tr><td>Foreign Exchange and Price Data</td><td>39-40</td></tr><tr><td colspan="2">Miscellaneous</td></tr><tr><td>Commodities Imported Under Quota</td><td>42</td></tr><tr><td>Law Enforcement Statistics</td><td>43</td></tr></table>
(NOTE: The two tables on tariff duties, import taxes and values of dutiable imports which normally appear in the Bulletin are omitted from this issue because of unavoidable delay in compilation of the figures. They will appear next month.)
RECEIPTS AND EXPENDITURES
-1-
2
Summary Tables on Receipts, Expenditures and Public Debt
(In millions of dollars - on basis of daily Treasury statements, unrevised.)
<table><tr><th rowspan="2"></th><th colspan="6">Receipts and Expenditures</th><th rowspan="2"></th><th colspan="6">Public Debt</th></tr><tr><th colspan="5">First 9 months fiscal year</th><th rowspan="1">Change '38 -'39</th><th colspan="5">Outstanding on March 31 of fiscal year</th><th rowspan="1">Change '38 -'39</th></tr><tr><th>1934</th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>1934</th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th></tr><tr><td>Receipts....</td><td>2,306</td><td>2,863</td><td>3,100</td><td>3,728</td><td>4,820</td><td>4,390</td><td>-430</td><td>Market leases,etc</td><td>24,103</td><td>28,264</td><td>30,727</td><td>33,922</td><td>35,038</td><td>36,531</td><td>1,493</td></tr><tr><td>Expenditures.</td><td>4,241</td><td>5,190</td><td>4,921</td><td>5,850</td><td>5,487</td><td>6,729</td><td>+1,242</td><td>Special issues...</td><td>2,055</td><td>553</td><td>732</td><td>806</td><td>2,518</td><td>3,454</td><td>936</td></tr><tr><td>Deficit....</td><td>1,935</td><td>2,327</td><td>1,821</td><td>2,122</td><td>667</td><td>2,339</td><td>1,672</td><td>Gross debt.....</td><td>26,158</td><td>28,817</td><td>31,459</td><td>34,728</td><td>37,556</td><td>39,985</td><td>2,429</td></tr></table>
Receipts and Expenditures
First 9 Months, Fiscal Years 1934 to 1939
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th></th><th>1934</th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>Change 1938-1939</th></tr><tr><td>Receipts</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income Tax</td><td>590</td><td>793</td><td>1,045</td><td>1,507</td><td>1,995</td><td>1,745</td><td>-250</td></tr><tr><td>Miscellaneous Internal Revenue</td><td>1,116</td><td>1,267</td><td>1,535</td><td>1,637</td><td>1,771</td><td>1,697</td><td>-74</td></tr><tr><td>Taxes under Social Security Act.</td><td>-</td><td>-</td><td>-</td><td>63</td><td>461</td><td>479</td><td>+18</td></tr><tr><td>Taxes upon carriers and their employees</td><td>-</td><td>-</td><td>-</td><td>-</td><td>123</td><td>82</td><td>-41</td></tr><tr><td>Customs</td><td>247</td><td>253</td><td>292</td><td>352</td><td>290</td><td>239</td><td>-51</td></tr><tr><td>Other</td><td>353</td><td>550</td><td>228</td><td>169</td><td>180</td><td>148</td><td>-32</td></tr><tr><td>Total Receipts</td><td>2,306</td><td>2,863</td><td>3,100</td><td>3,728</td><td>4,820</td><td>4,390</td><td>-430</td></tr><tr><td>Expenditures</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>National defense and Veterans Adm.</td><td>794</td><td>999</td><td>1,192</td><td>1,176</td><td>1,192</td><td>1,277</td><td>+85</td></tr><tr><td>Social Security and R. R. Retirement Act.</td><td>-</td><td>-</td><td>6</td><td>270</td><td>726</td><td>706</td><td>-20</td></tr><tr><td>Agricultural Adjustment Program</td><td>224</td><td>543</td><td>403</td><td>355</td><td>184</td><td>510</td><td>+326</td></tr><tr><td>Interest on the public debt</td><td>453</td><td>560</td><td>538</td><td>596</td><td>618</td><td>592</td><td>-26</td></tr><tr><td>Public Works</td><td>362</td><td>510</td><td>492</td><td>767</td><td>636</td><td>722</td><td>+86</td></tr><tr><td>Unemployment relief</td><td>1,322</td><td>1,722</td><td>1,661</td><td>1,859</td><td>1,348</td><td>1,990</td><td>+642</td></tr><tr><td>Loans and stock subscriptions</td><td>620</td><td>353</td><td>20</td><td>102</td><td>62</td><td>130</td><td>+68</td></tr><tr><td>Other</td><td>466</td><td>503</td><td>649</td><td>725</td><td>721</td><td>802</td><td>+81</td></tr><tr><td>Total Expenditure</td><td>4,241</td><td>5,190</td><td>4,921</td><td>5,850</td><td>5,487</td><td>6,729</td><td>+1,242</td></tr><tr><td>Excess of Expenditures</td><td>1,935</td><td>2,327</td><td>1,821</td><td>2,122</td><td>667</td><td>2,339</td><td>+1,672</td></tr></table>
Excess of credits, deduct.
Fiscal Years 1937 and 1938; Fiscal Year 1939 to Date and on Basis of 1940 Budget
(In millions of dollars - on basis of the 1940 Budget and daily Treasury statements, unrevised.)
<table><tr><th></th><th>Actual 1937</th><th>Actual 1938</th><th>Estimated 1939</th><th>Actual 9 months 1939</th></tr><tr><td><b>Receipts:</b></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax</td><td>2,158</td><td>2,635</td><td>2,086</td><td>1,745</td></tr><tr><td>Miscellaneous Internal Revenue</td><td>2,181</td><td>2,280</td><td>2,173</td><td>1,697</td></tr><tr><td>Taxes under Social Security Act</td><td>252</td><td>604</td><td>611</td><td>479</td></tr><tr><td>Taxes upon carriers and their employees</td><td>-</td><td>150</td><td>109</td><td>82</td></tr><tr><td>Customs</td><td>486</td><td>359</td><td>335</td><td>239</td></tr><tr><td>Other</td><td>217</td><td>214</td><td>206</td><td>148</td></tr><tr><td><b>Total Receipts</b></td><td><b>5,294</b></td><td><b>6,242</b></td><td><b>5,520</b></td><td><b>4,390</b></td></tr><tr><td><b>Expenditures:</b></td><td></td><td></td><td></td><td></td></tr><tr><td>National defense and Veteran's Adm.</td><td>2,023</td><td>1,552</td><td>1,557</td><td>1,277</td></tr><tr><td>Social Security and R. R. Retirement Acts</td><td>454</td><td>823</td><td>945</td><td>706</td></tr><tr><td>Agricultural Adjustment Program</td><td>527</td><td>362</td><td>703</td><td>510</td></tr><tr><td>Interest on the public debt</td><td>866</td><td>926</td><td>976</td><td>592</td></tr><tr><td>Public Works</td><td>1,102</td><td>880</td><td>1,229</td><td>722</td></tr><tr><td>Unemployment relief</td><td>2,527</td><td>1,996</td><td>2,741</td><td>1,990</td></tr><tr><td>Loans and stock subscriptions</td><td>150</td><td>104</td><td>271</td><td>130</td></tr><tr><td>Other</td><td>793</td><td>983</td><td>1,070</td><td>802</td></tr><tr><td><b>Total Expenditures</b></td><td><b>8,442</b></td><td><b>7,626</b></td><td><b>9,492</b></td><td><b>6,729</b></td></tr><tr><td><b>Net deficit</b></td><td><b>3,148</b></td><td><b>1,384</b></td><td><b>3,972</b></td><td><b>2,339</b></td></tr><tr><td><b>Financing of deficit:</b></td><td></td><td></td><td></td><td></td></tr><tr><td>Increase in debt</td><td></td><td></td><td></td><td></td></tr><tr><td>Market issues</td><td>1,714</td><td>378 1/</td><td>3,008</td><td>2,042</td></tr><tr><td>Special issues</td><td>932</td><td>1,118</td><td>959</td><td>778</td></tr><tr><td><b>Total debt increase</b></td><td><b>2,646</b></td><td><b>740</b></td><td><b>3,967</b></td><td><b>2,820</b></td></tr><tr><td><b>Net increase in working balance, general and special account (deduct)</b></td><td><b>502*</b></td><td><b>644*</b></td><td><b>5**</b></td><td><b>481</b></td></tr><tr><td></td><td><b>3,148</b></td><td><b>1,384</b></td><td><b>3,972</b></td><td><b>2,339</b></td></tr></table>
1/ Decrease, deduct.
* Decrease in balance, add.
** Add. represents decrease in working balance due to retirement of National bank notes.
RECONCILIATION, DEFICIT AND DEBT INCREASE, FIRST 9 MONTHS OF FISCAL YEAR 1939
<table><tr><td>Increase in debt:</td><td></td><td></td></tr><tr><td>New issues (less redemptions)</td><td>2,820</td><td></td></tr><tr><td>Accounted for:</td><td></td><td></td></tr><tr><td>Deficit</td><td></td><td>2,339</td></tr><tr><td>Increase, cash balance</td><td>1,173</td><td></td></tr><tr><td>Less trust fund net receipts</td><td>692</td><td>481</td></tr><tr><td></td><td></td><td>2,820</td></tr></table>
3
Summary of Federal Receipts and Expenditures
(in millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">Period</th><th colspan="5">Receipts</th><th colspan="6">Expenditures 2/</th><th rowspan="2">Excess of receipts (+) or expenditures (-)</th></tr><tr><th>Total</th><th>Total</th><th>Income tax</th><th>Social Security 3/</th><th>Other</th><th>Customs</th><th>Miscellaneous receipts</th><th>Total</th><th>General</th><th>Recovery and relief</th><th>Revolving funds (net)</th><th>Transfers to trust account etc.</th><th>Debt retirement</th></tr><tr><td>Fiscal years ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1932......</td><td>2,006</td><td>1,561</td><td>1,057</td><td>-</td><td>504</td><td>328</td><td>117</td><td>4,948</td><td>3,627</td><td>625</td><td>62</td><td>221</td><td>413</td><td>-2,942</td></tr><tr><td>1933......</td><td>2,080</td><td>1,604</td><td>746</td><td>-</td><td>858</td><td>251</td><td>225</td><td>4,325</td><td>3,283</td><td>385</td><td>74</td><td>121</td><td>461</td><td>-2,245</td></tr><tr><td>1934......</td><td>3,116</td><td>2,641</td><td>818</td><td>-</td><td>1,823</td><td>313</td><td>162</td><td>6,371</td><td>2,681</td><td>2,763</td><td>496</td><td>71</td><td>360</td><td>-3,255</td></tr><tr><td>1935......</td><td>3,800</td><td>3,278</td><td>1,099</td><td>-</td><td>2,179</td><td>343</td><td>179</td><td>7,583</td><td>3,225</td><td>3,369</td><td>345</td><td>71</td><td>574</td><td>-3,783</td></tr><tr><td>1936......</td><td>4,116</td><td>3,533</td><td>1,427</td><td>-</td><td>2,086</td><td>387</td><td>216</td><td>9,069</td><td>3,399</td><td>3,441</td><td>11</td><td>1,814</td><td>403</td><td>-4,953</td></tr><tr><td>1937......</td><td>5,294</td><td>4,598</td><td>2,158</td><td>253</td><td>2,187</td><td>486</td><td>210</td><td>8,546</td><td>4,297</td><td>3,073</td><td>204</td><td>868</td><td>104</td><td>-3,253</td></tr><tr><td>1938......</td><td>6,242</td><td>5,675</td><td>2,635</td><td>755</td><td>2,855</td><td>359</td><td>208</td><td>7,691</td><td>4,661</td><td>2,238</td><td>121</td><td>607</td><td>65</td><td>-1,450</td></tr><tr><td>1938-Mar...</td><td>959</td><td>919</td><td>723</td><td>3</td><td>193</td><td>26</td><td>14</td><td>752</td><td>476</td><td>196</td><td>18</td><td>58</td><td>4</td><td>+207</td></tr><tr><td>Apr....</td><td>273</td><td>238</td><td>49</td><td>34</td><td>155</td><td>24</td><td>10</td><td>643</td><td>411</td><td>202</td><td>9</td><td>19</td><td>1</td><td>-370</td></tr><tr><td>May....</td><td>375</td><td>340</td><td>40</td><td>131</td><td>169</td><td>22</td><td>12</td><td>569</td><td>344</td><td>206</td><td>16</td><td>2</td><td>1</td><td>-193</td></tr><tr><td>June...</td><td>774</td><td>740</td><td>550</td><td>5</td><td>185</td><td>22</td><td>12</td><td>937</td><td>603</td><td>314</td><td>12</td><td>1</td><td>7</td><td>-163</td></tr><tr><td>July...</td><td>311</td><td>265</td><td>47</td><td>32</td><td>186</td><td>23</td><td>24</td><td>763</td><td>406</td><td>216</td><td>5</td><td>135</td><td>1/</td><td>-451</td></tr><tr><td>Aug....</td><td>487</td><td>446</td><td>32</td><td>131</td><td>283</td><td>29</td><td>13</td><td>683</td><td>386</td><td>236</td><td>13</td><td>48</td><td>-</td><td>-195</td></tr><tr><td>Sept...</td><td>711</td><td>671</td><td>498</td><td>3</td><td>170</td><td>29</td><td>11</td><td>765</td><td>453</td><td>243</td><td>10</td><td>45</td><td>14</td><td>-54</td></tr><tr><td>Oct....</td><td>332</td><td>284</td><td>41</td><td>34</td><td>209</td><td>31</td><td>17</td><td>771</td><td>454</td><td>262</td><td>10</td><td>44</td><td>2</td><td>-439</td></tr><tr><td>Nov....</td><td>382</td><td>340</td><td>36</td><td>129</td><td>175</td><td>27</td><td>14</td><td>678</td><td>374</td><td>248</td><td>7</td><td>48</td><td>1</td><td>-296</td></tr><tr><td>Dec....</td><td>704</td><td>664</td><td>481</td><td>3</td><td>180</td><td>25</td><td>15</td><td>870</td><td>500</td><td>307</td><td>6</td><td>48</td><td>9</td><td>-166</td></tr><tr><td>1939-Jan...</td><td>308</td><td>264</td><td>48</td><td>43</td><td>173</td><td>24</td><td>20</td><td>693</td><td>391</td><td>257</td><td>6</td><td>39</td><td>1</td><td>-385</td></tr><tr><td>Feb....</td><td>417</td><td>380</td><td>56</td><td>182</td><td>142</td><td>22</td><td>16</td><td>662</td><td>348</td><td>254</td><td>10</td><td>50</td><td>-</td><td>-245</td></tr><tr><td>Mar....</td><td>737</td><td>693</td><td>506</td><td>4</td><td>183</td><td>29</td><td>15</td><td>879</td><td>499</td><td>297</td><td>6</td><td>68</td><td>10</td><td>-142</td></tr></table>
Figures in this and three succeeding tables are rounded to nearest million and will not necessarily add to totals. Excluding postal revenues but including postal deficit. Including Railroad Retirement. Less than $500,000.
Federal Expenditures - General
(In millions of dollars - on basis of daily Treasury statement, unrevised)
<table><tr><th>Period</th><th>Total</th><th>Departmental</th><th>National defense</th><th>Veterans' Administration</th><th>Public Works 1/</th><th>Agricultural Adjustment program</th><th>Civilian Conservation Corps</th><th>Social Security and Railroad Retirement Act</th><th>Interest on the public debt</th><th>Other</th></tr><tr><td>Fiscal years ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1932</td><td>3,627</td><td>958</td><td>708</td><td>785</td><td>117</td><td>-</td><td>-</td><td>-</td><td>599</td><td>460</td></tr><tr><td>1933</td><td>3,283</td><td>807</td><td>668</td><td>763</td><td>118</td><td>-</td><td>-</td><td>-</td><td>689</td><td>238</td></tr><tr><td>1934</td><td>2,681</td><td>341</td><td>480</td><td>507</td><td>154</td><td>289</td><td>2/</td><td>-</td><td>757</td><td>153</td></tr><tr><td>1935</td><td>3,225</td><td>356</td><td>534</td><td>556</td><td>80</td><td>712</td><td>2/</td><td>-</td><td>821</td><td>166</td></tr><tr><td>1936</td><td>3,399</td><td>429</td><td>764</td><td>576</td><td>150</td><td>533</td><td>2/</td><td>29</td><td>749</td><td>169</td></tr><tr><td>1937</td><td>4,297</td><td>505</td><td>856</td><td>580</td><td>311</td><td>527</td><td>321</td><td>188</td><td>866</td><td>143</td></tr><tr><td>1938</td><td>4,661</td><td>570</td><td>974</td><td>582</td><td>460</td><td>362</td><td>325</td><td>290</td><td>926</td><td>172</td></tr><tr><td>1938-Mar</td><td>476</td><td>52</td><td>89</td><td>49</td><td>28</td><td>58</td><td>27</td><td>9</td><td>153</td><td>12</td></tr><tr><td>Apr.</td><td>411</td><td>47</td><td>81</td><td>49</td><td>30</td><td>70</td><td>24</td><td>28</td><td>66</td><td>16</td></tr><tr><td>May</td><td>344</td><td>45</td><td>86</td><td>48</td><td>31</td><td>60</td><td>24</td><td>22</td><td>9</td><td>19</td></tr><tr><td>June</td><td>603</td><td>47</td><td>84</td><td>48</td><td>35</td><td>48</td><td>25</td><td>65</td><td>233</td><td>18</td></tr><tr><td>July</td><td>406</td><td>70</td><td>89</td><td>48</td><td>43</td><td>58</td><td>27</td><td>40</td><td>13</td><td>18</td></tr><tr><td>Aug.</td><td>386</td><td>61</td><td>94</td><td>48</td><td>47</td><td>33</td><td>28</td><td>33</td><td>17</td><td>25</td></tr><tr><td>Sept.</td><td>453</td><td>48</td><td>84</td><td>47</td><td>49</td><td>25</td><td>26</td><td>10</td><td>116</td><td>18</td></tr><tr><td>Oct.</td><td>454</td><td>56</td><td>90</td><td>46</td><td>52</td><td>63</td><td>25</td><td>49</td><td>67</td><td>6</td></tr><tr><td>Nov.</td><td>374</td><td>60</td><td>92</td><td>46</td><td>45</td><td>70</td><td>23</td><td>28</td><td>9</td><td>1</td></tr><tr><td>Deco.</td><td>500</td><td>50</td><td>91</td><td>45</td><td>44</td><td>53</td><td>23</td><td>14</td><td>173</td><td>7</td></tr><tr><td>1939-Jan.</td><td>391</td><td>65</td><td>94</td><td>46</td><td>41</td><td>53</td><td>23</td><td>33</td><td>30</td><td>6</td></tr><tr><td>Feb.</td><td>348</td><td>57</td><td>77</td><td>44</td><td>34</td><td>61</td><td>22</td><td>26</td><td>17</td><td>10</td></tr><tr><td>Mar.</td><td>499</td><td>54</td><td>91</td><td>46</td><td>33</td><td>94</td><td>24</td><td>24</td><td>120</td><td>13</td></tr></table>
1/ Includes public buildings, public highways, rivers and harbors, Tennessee Valley Authority and reclamation projects.
2/ Included under Recovery and Relief in these years.
4
Federal Expenditures - Recovery and Relief
(In millions of dollars - on basis of daily Treasury statement, unrevised)
<table><tr><th>Period</th><th>Total</th><th colspan="2">Public works, including work relief</th><th>Relief</th><th>Agricultural Aid</th><th>Aid to home owners</th><th>Miscellaneous</th></tr><tr><th></th><th></th><th>WPA</th><th>Other</th><th></th><th></th><th></th><th></th></tr><tr><td>Fiscal years ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1932</td><td>625</td><td>-</td><td>-</td><td>-</td><td>125</td><td>-</td><td>500</td></tr><tr><td>1933</td><td>385</td><td>-</td><td>494</td><td>38</td><td>(5)</td><td>44</td><td>303</td></tr><tr><td>1934</td><td>2,763</td><td>-</td><td>816</td><td>1,844 1/2</td><td>49</td><td>195</td><td>182</td></tr><tr><td>1935</td><td>3,369</td><td>-</td><td>784</td><td>2,348 1/2</td><td>48</td><td>104</td><td>52</td></tr><tr><td>1936</td><td>3,441</td><td>1,264</td><td>741</td><td>985 1/2</td><td>157</td><td>215</td><td>36</td></tr><tr><td>1937</td><td>3,073</td><td>1,896</td><td>741</td><td>78</td><td>64</td><td>298</td><td>(4)</td></tr><tr><td>1938</td><td>2,238</td><td>1,472</td><td>342</td><td>6</td><td>170 2/2</td><td>240</td><td>7</td></tr><tr><td>1938-Mar.</td><td>196</td><td>145</td><td>20</td><td>1</td><td>7</td><td>23</td><td>*</td></tr><tr><td>Apr.</td><td>202</td><td>146</td><td>21</td><td>1</td><td>11</td><td>23</td><td>*</td></tr><tr><td>May</td><td>206</td><td>158</td><td>25</td><td>1</td><td>3</td><td>20</td><td>*</td></tr><tr><td>June</td><td>314</td><td>166</td><td>29</td><td>*</td><td>102 2/2</td><td>17</td><td>(*)</td></tr><tr><td>July</td><td>216</td><td>172</td><td>26</td><td>*</td><td>3</td><td>15</td><td>*</td></tr><tr><td>Aug.</td><td>236</td><td>193</td><td>24</td><td>*</td><td>9</td><td>10</td><td>(*)</td></tr><tr><td>Sept.</td><td>243</td><td>194</td><td>36</td><td>*</td><td>4</td><td>9</td><td>(*)</td></tr><tr><td>Oct.</td><td>262</td><td>207</td><td>38</td><td>1</td><td>2</td><td>13</td><td>-</td></tr><tr><td>Nov.</td><td>248</td><td>194</td><td>36</td><td>*</td><td>5</td><td>10</td><td>2</td></tr><tr><td>Dec.</td><td>307</td><td>219</td><td>73</td><td>*</td><td>4</td><td>11</td><td>-</td></tr><tr><td>1939-Jan.</td><td>257</td><td>185</td><td>59</td><td>*</td><td>(1)</td><td>14</td><td>*</td></tr><tr><td>Feb.</td><td>254</td><td>160</td><td>63</td><td>*</td><td>9</td><td>20</td><td>2</td></tr><tr><td>Mar.</td><td>297</td><td>201</td><td>61</td><td>*</td><td>3</td><td>32</td><td>-</td></tr></table>
1/ Includes funds expended for Civilian Conservation Corps during these years.
2/ Include $94,000,000 restoration of capital impairment of Commodity Credit Corporation.
Less than $500,000.
Indicates excess of credits, deduct.
Federal Expenditures - Revolving Funds (Net), and Transfers to Trust Accounts, etc.
(In millions of dollars - on basis of daily Treasury statement, unrevised)
<table><tr><th rowspan="2">Period</th><th colspan="3">Revolving funds (net)</th><th colspan="5">Transfers to trust accounts, etc.</th></tr><tr><th>Total</th><th>Agricultural Aid</th><th>Public Works</th><th>Total</th><th>Old-Age Reserve Account</th><th>Railroad Retirement Account</th><th>Adjusted Service Certificate Fund</th><th>Government Employees' Retirement Fund (U.S. share)</th></tr><tr><td>Fiscal years ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1932</td><td>62</td><td>62</td><td>-</td><td>221</td><td>-</td><td>-</td><td>200</td><td>21</td></tr><tr><td>1933</td><td>74</td><td>74</td><td>-</td><td>121</td><td>-</td><td>-</td><td>100</td><td>21</td></tr><tr><td>1934</td><td>196</td><td>146</td><td>150</td><td>71</td><td>-</td><td>-</td><td>50</td><td>21</td></tr><tr><td>1935</td><td>145</td><td>141</td><td>204</td><td>71</td><td>-</td><td>-</td><td>50</td><td>21</td></tr><tr><td>1936</td><td>11</td><td>(33)</td><td>44</td><td>1,814</td><td>-</td><td>-</td><td>1,773</td><td>41</td></tr><tr><td>1937</td><td>204</td><td>(18)</td><td>222</td><td>868</td><td>265</td><td>-</td><td>556</td><td>47</td></tr><tr><td>1938</td><td>121</td><td>(13)</td><td>134</td><td>607</td><td>387</td><td>147</td><td>-</td><td>73</td></tr><tr><td>1938-Mar.</td><td>18</td><td>(*)</td><td>18</td><td>58</td><td>43</td><td>15</td><td>-</td><td>-</td></tr><tr><td>Apr.</td><td>9</td><td>(*)</td><td>9</td><td>19</td><td>11</td><td>8</td><td>-</td><td>-</td></tr><tr><td>May</td><td>16</td><td>(*)</td><td>16</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June</td><td>12</td><td>(*)</td><td>13</td><td>1</td><td>-</td><td>1</td><td>-</td><td>-</td></tr><tr><td>July</td><td>5</td><td>(1)</td><td>6</td><td>135</td><td>38</td><td>22</td><td>-</td><td>75</td></tr><tr><td>Aug.</td><td>13</td><td>(1)</td><td>14</td><td>48</td><td>38</td><td>10</td><td>-</td><td>-</td></tr><tr><td>Sept.</td><td>10</td><td>(1)</td><td>11</td><td>45</td><td>33</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Oct.</td><td>10</td><td>(1)</td><td>11</td><td>44</td><td>32</td><td>12</td><td>-</td><td>-</td></tr><tr><td>Nov.</td><td>7</td><td>(1)</td><td>8</td><td>48</td><td>32</td><td>16</td><td>-</td><td>-</td></tr><tr><td>Dec.</td><td>6</td><td>(2)</td><td>8</td><td>48</td><td>32</td><td>16</td><td>-</td><td>-</td></tr><tr><td>1939-Jan.</td><td>6</td><td>(*)</td><td>6</td><td>39</td><td>37</td><td>2</td><td>-</td><td>-</td></tr><tr><td>Feb.</td><td>10</td><td>(*)</td><td>11</td><td>50</td><td>50</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mar.</td><td>6</td><td>(*)</td><td>6</td><td>68</td><td>50</td><td>18</td><td>-</td><td>-</td></tr></table>
Less than $500,000
( ) Indicates excess of credits, deduct
5
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
<table><tr><th rowspan="2">Sources of Revenue</th><th colspan="2">March</th><th colspan="2">July 1 - March 31</th><th rowspan="2">Sources of Revenue</th><th colspan="2">March</th><th colspan="2">July 1 - March 31</th></tr><tr><th>1939</th><th>1938</th><th>Fiscal year 1939</th><th>Fiscal year 1938</th><th>1939</th><th>1938</th><th>Fiscal year 1939</th><th>Fiscal year 1938</th></tr><tr><td>Income taxes:</td><td></td><td></td><td></td><td></td><td>Miscellaneous internal revenue - continued</td><td></td><td></td><td></td><td></td></tr><tr><td>Corporation</td><td>188,530</td><td>282,227</td><td>772,679</td><td>852,289</td><td>Manufacturere' excise taxes:</td><td>2,169</td><td>1,876</td><td>23,261</td><td>23,636</td></tr><tr><td>Current</td><td>16,161</td><td>20,873</td><td>113,819</td><td>109,843</td><td>Lubricating oils</td><td>14,578</td><td>14,219</td><td>157,663</td><td>157,288</td></tr><tr><td>Individual</td><td></td><td></td><td></td><td></td><td>Gasoline</td><td>2,697</td><td>1,400</td><td>24,438</td><td>25,057</td></tr><tr><td>Current</td><td>282,870</td><td>393,900</td><td>764,082</td><td>927,793</td><td>Tires and inner tubes</td><td>896</td><td>274</td><td>4,215</td><td>5,211</td></tr><tr><td>Back</td><td>8,345</td><td>9,735</td><td>66,472</td><td>67,788</td><td>Automobile trucks</td><td></td><td></td><td></td><td></td></tr><tr><td>Excee-profit</td><td>2,568</td><td>8,869</td><td>23,785</td><td>23,059</td><td>Other automobiles and motorcycles</td><td>6,841</td><td>1,584</td><td>29,729</td><td>34,875</td></tr><tr><td>Total income taxes</td><td>498,474</td><td>715,604</td><td>1,740,837</td><td>1,980,772</td><td>Parte or accessories for automobiles</td><td>803</td><td>476</td><td>5,974</td><td>6,418</td></tr><tr><td>Tax on unjust enrichment</td><td>301</td><td>1,594</td><td>4,620</td><td>4,681</td><td>Electrical energy</td><td>3,963</td><td>3,604</td><td>29,951</td><td>28,748</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td></td><td>Radio sets, phonograph</td><td>353</td><td>249</td><td>4,010</td><td>4,972</td></tr><tr><td>Capital stock tax</td><td>213</td><td>247</td><td>126,751</td><td>138,767</td><td>Mechanical refrigerators</td><td>954</td><td>596</td><td>3,871</td><td>6,458</td></tr><tr><td>Estate tax</td><td>22,625</td><td>37,469</td><td>241,813</td><td>297,029</td><td>Firearms, shells, and cartridge</td><td>109</td><td>101</td><td>2,321</td><td>2,335</td></tr><tr><td>Gift tax</td><td>19,836</td><td>25,218</td><td>26,566</td><td>30,847</td><td>Pistols and revolvers</td><td>11</td><td>7</td><td>51</td><td>69</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td></td><td>Toilet preparations, etc., (including repealed 5% tax)</td><td>695</td><td>1,001</td><td>8,282</td><td>12,029</td></tr><tr><td>Distilled epiire (imported, excise)</td><td>1,824</td><td>1,871</td><td>19,643</td><td>22,888</td><td>Matches (including repealed taxes)</td><td>1</td><td>310</td><td>125</td><td>4,225</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>23,671</td><td>18,841</td><td>197,758</td><td>176,074</td><td>Brewere' wort and malt (repealed as of 7/1/38)</td><td>1/</td><td>31</td><td>12</td><td>376</td></tr><tr><td>Distilled spirits rectification tax</td><td>933</td><td>836</td><td>8,389</td><td>8,625</td><td>Articles made of fur (repealed as of 7/1/38)</td><td>35</td><td>311</td><td>313</td><td>4,901</td></tr><tr><td>Winee, cordiale, etc., (imported excise)</td><td>34</td><td>30</td><td>396</td><td>420</td><td>Sporting goods (repealed as of 7/1/38)</td><td>8</td><td>496</td><td>755</td><td>4,838</td></tr><tr><td>Wines, cordiale, etc., (domestic, excise)</td><td>520</td><td>448</td><td>4,622</td><td>4,257</td><td>Cameras and lenses (repealed as of 7/2/38)</td><td>3</td><td>76</td><td>187</td><td>1,044</td></tr><tr><td>Brandy used for fortifying sweet wines</td><td>114</td><td>212</td><td>507</td><td>545</td><td>Chewing gum (repealed as of 7/1/38)</td><td>1/</td><td>103</td><td>106</td><td>762</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>64</td><td>71</td><td>4,697</td><td>4,828</td><td>Total manufacturers' excise taxes</td><td>34,116</td><td>26,714</td><td>295,264</td><td>323,252</td></tr><tr><td>Stamps for distilled epiire intended for export</td><td>1/</td><td>1</td><td>1/</td><td>1</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cace etamps for distilled epiire bottled in bond</td><td>59</td><td>34</td><td>346</td><td>186</td><td>Bituminous Coal Act of 1937</td><td>377</td><td>309</td><td>2,656</td><td>2,556</td></tr><tr><td>Container etamps</td><td>849</td><td>739</td><td>7,265</td><td>7,421</td><td>Sugar Act of 1937</td><td>2,977</td><td>4,051</td><td>49,910</td><td>17,261</td></tr><tr><td>Floor taxes</td><td>26</td><td>5,406</td><td>8</td><td>8</td><td>Telephone, telegraph, radio and cable facili-ties, leased wires, etc.</td><td>3,054</td><td>2,548</td><td>18,396</td><td>18,210</td></tr><tr><td>Fermented malt liquors</td><td>19,224</td><td>20,322</td><td>185,510</td><td>199,671</td><td>Transportation of oil by pipe line</td><td>968</td><td>1,178</td><td>8,379</td><td>9,761</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>38</td><td>45</td><td>2,538</td><td>2,768</td><td>Leases of safe-deposit boxes</td><td>178</td><td>179</td><td>1,486</td><td>1,521</td></tr><tr><td>Total alcoholic beverage taxes</td><td>47,356</td><td>43,450</td><td>437,077</td><td>427,692</td><td>Admission to theaters, concerts, cabarets, etc.</td><td>1,607</td><td>1,773</td><td>14,989</td><td>16,240</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td></td><td>Club dues and initiation fee</td><td>522</td><td>502</td><td>4,463</td><td>4,786</td></tr><tr><td>Cigars (large)</td><td>1,040</td><td>1,034</td><td>9,538</td><td>9,630</td><td>Adulterated and process or renovated butter,mixed flour and filled cheese</td><td>1</td><td>4</td><td>17</td><td>19</td></tr><tr><td>Cigars (small)</td><td>12</td><td>12</td><td>89</td><td>106</td><td>Oleomargarine, including special taxes</td><td>83</td><td>115</td><td>1,716</td><td>1,914</td></tr><tr><td>Cigarettes (large)</td><td>1</td><td>2</td><td>14</td><td>17</td><td>Narcotics, including mari-buana and special taxes</td><td>34</td><td>22</td><td>297</td><td>312</td></tr><tr><td>Cigarettes (small)</td><td>42,731</td><td>41,184</td><td>371,109</td><td>368,431</td><td>Coconut and other vegetable oils processed</td><td>2,365</td><td>1,631</td><td>20,609</td><td>20,909</td></tr><tr><td>Stuff</td><td>644</td><td>622</td><td>5,165</td><td>5,027</td><td>National Firearms Act</td><td>1/</td><td>1/</td><td>5</td><td>6</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>4,683</td><td>4,916</td><td>41,001</td><td>40,043</td><td>All other, including re-pealed taxes not listed above</td><td>12</td><td>98</td><td>262</td><td>1,095</td></tr><tr><td>Cigarette papere and tubee</td><td>210</td><td>85</td><td>1,090</td><td>849</td><td>Total miscellaneous taxes</td><td>12,178</td><td>12,410</td><td>123,185</td><td>94,590</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>1/</td><td>1/</td><td>1</td><td>1</td><td>Total miscellaneous internal revenue</td><td>188,771</td><td>196,277</td><td>1,710,998</td><td>1,773,185</td></tr><tr><td>Total tobacco taxes</td><td>49,321</td><td>47,855</td><td>428,007</td><td>424,104</td><td>Payroll taxes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Documentary, etc., stamp taxes:</td><td></td><td></td><td></td><td></td><td>Social Security taxes (Social Security Act):</td><td></td><td></td><td></td><td></td></tr><tr><td>Bonde of indebtedness, issues of capital stock, deeds of conveyance, etc.</td><td>1,603</td><td>1,350</td><td>14,762</td><td>15,613</td><td>Taxes with respect to employment (title VIII)</td><td>2,410</td><td>1,016</td><td>391,021</td><td>371,541</td></tr><tr><td>Capital stock and similar interest seilee or transfers</td><td>1,083</td><td>940</td><td>13,798</td><td>14,851</td><td>Tax on employee of 8 or more (title IX)</td><td>1,747</td><td>2,358</td><td>88,561</td><td>78,481</td></tr><tr><td>Playing cards</td><td>428</td><td>458</td><td>3,407</td><td>3,242</td><td>Total Social Security taxes</td><td>4,157</td><td>3,374</td><td>479,582</td><td>450,022</td></tr><tr><td>Silver bullion sales or transfere</td><td>12</td><td>6</td><td>119</td><td>133</td><td>Carriere Taxing Act of 1937</td><td>-302</td><td>96</td><td>81,868</td><td>122,569</td></tr><tr><td>Sales of produce for future delivery (repealed as of 7/1/38)</td><td>-</td><td>160</td><td>249</td><td>3,065</td><td>Total payroll taxes</td><td>3,855</td><td>3,470</td><td>561,450</td><td>572,591</td></tr><tr><td>Total documentary, etc., stamp taxes</td><td>3,126</td><td>2,914</td><td>32,335</td><td>36,904</td><td>Total internal revenue</td><td>691,401</td><td>916,945</td><td>4,017,905</td><td>4,331,229</td></tr></table>
1/ Less than $500.
6
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
<table><tr><th>Period</th><th>Total</th><th colspan="3">Income and Profits</th><th colspan="4">Payroll Taxes</th></tr><tr><th></th><th></th><th>Total</th><th>Individual</th><th>Corporation 1/</th><th>Total</th><th colspan="2">Social Security Act</th><th>Carriers' Taxing Act of 1937</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Title VIII</th><th>Title IX</th><th></th></tr><tr><td>Fiscal year ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1929</td><td>2,939,054</td><td>2,331,274</td><td>1,095,541</td><td>1,235,733</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1930</td><td>3,040,146</td><td>2,410,259</td><td>1,146,845</td><td>1,263,414</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1931</td><td>2,428,229</td><td>1,860,040</td><td>833,648</td><td>1,026,393</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1932</td><td>1,557,729</td><td>1,056,757</td><td>427,191</td><td>629,566</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1933</td><td>1,619,839</td><td>746,791</td><td>352,574</td><td>394,218</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>2,672,239</td><td>819,656</td><td>419,509</td><td>400,147</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>3,299,436</td><td>1,105,791</td><td>527,113</td><td>578,678</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>3,520,208</td><td>1,427,448</td><td>674,416</td><td>753,032</td><td>48</td><td>-</td><td>-</td><td>48</td></tr><tr><td>1937</td><td>4,653,195</td><td>2,173,769</td><td>1,091,741</td><td>1,082,028</td><td>265,745</td><td>207,339</td><td>58,119</td><td>287</td></tr><tr><td>1938</td><td>5,658,765</td><td>2,622,813</td><td>1,286,312</td><td>1,336,501</td><td>742,660</td><td>502,917</td><td>90,267</td><td>149,476</td></tr><tr><td>1938-Mar.</td><td>916,945</td><td>715,604</td><td>403,635</td><td>311,969</td><td>3,470</td><td>1,016</td><td>2,358</td><td>96</td></tr><tr><td>Apr.</td><td>302,476</td><td>48,805</td><td>14,905</td><td>33,900</td><td>91,283</td><td>70,092</td><td>6,410</td><td>14,781</td></tr><tr><td>May</td><td>277,765</td><td>42,492</td><td>17,839</td><td>24,653</td><td>73,859</td><td>56,957</td><td>4,784</td><td>12,118</td></tr><tr><td>June</td><td>747,295</td><td>550,743</td><td>257,986</td><td>292,757</td><td>4,927</td><td>4,328</td><td>592</td><td>7</td></tr><tr><td>July</td><td>350,426</td><td>42,923</td><td>11,999</td><td>30,924</td><td>77,707</td><td>61,026</td><td>5,181</td><td>11,500</td></tr><tr><td>Aug.</td><td>362,286</td><td>34,609</td><td>12,764</td><td>21,845</td><td>85,736</td><td>65,608</td><td>5,509</td><td>14,619</td></tr><tr><td>Sept.</td><td>682,544</td><td>495,548</td><td>227,573</td><td>267,975</td><td>2,864</td><td>2,074</td><td>779</td><td>11</td></tr><tr><td>Oct.</td><td>315,061</td><td>42,162</td><td>9,468</td><td>32,694</td><td>81,508</td><td>59,282</td><td>7,287</td><td>14,939</td></tr><tr><td>Nov.</td><td>304,572</td><td>36,491</td><td>12,513</td><td>23,978</td><td>81,979</td><td>64,601</td><td>4,731</td><td>12,647</td></tr><tr><td>Dec.</td><td>662,252</td><td>481,509</td><td>213,622</td><td>267,887</td><td>2,939</td><td>2,414</td><td>483</td><td>42</td></tr><tr><td>1939-Jan.</td><td>315,845</td><td>51,598</td><td>19,067</td><td>32,531</td><td>98,992</td><td>59,035</td><td>25,150</td><td>14,807</td></tr><tr><td>Feb.</td><td>333,517</td><td>57,524</td><td>32,333</td><td>25,191</td><td>125,870</td><td>74,571</td><td>37,694</td><td>13,605</td></tr><tr><td>Mar.</td><td>691,401</td><td>498,474</td><td>291,215</td><td>207,259</td><td>3,855</td><td>2,410</td><td>1,747</td><td>-302</td></tr></table>
<table><tr><th rowspan="2">Period</th><th colspan="8">Miscellaneous Internal Revenue</th><th rowspan="2">Unjust enrichment</th><th rowspan="2">Agricultural adjustment</th></tr><tr><th>Total</th><th>Capital stock</th><th>Estate and Gift</th><th>Alcoholic beverages</th><th>Tobacco</th><th>Stamp</th><th>Manufacturers' excise</th><th>Miscellaneous 2/</th></tr><tr><td>Fiscal year ended June 30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1929</td><td>607,780</td><td>-</td><td>61,897</td><td>12,777</td><td>434,445</td><td>64,173</td><td>166</td><td>34,322</td><td>-</td><td>-</td></tr><tr><td>1930</td><td>629,887</td><td>-</td><td>64,770</td><td>11,695</td><td>450,339</td><td>77,729</td><td>344</td><td>25,010</td><td>-</td><td>-</td></tr><tr><td>1931</td><td>568,189</td><td>-</td><td>48,078</td><td>10,432</td><td>444,277</td><td>46,954</td><td>138</td><td>18,310</td><td>-</td><td>-</td></tr><tr><td>1932</td><td>500,972</td><td>-</td><td>47,422</td><td>8,704</td><td>398,579</td><td>32,241</td><td>-</td><td>14,026</td><td>-</td><td>-</td></tr><tr><td>1933</td><td>873,048</td><td>-</td><td>34,310</td><td>43,174</td><td>402,739</td><td>57,578</td><td>247,751</td><td>87,496</td><td>-</td><td>371,423</td></tr><tr><td>1934</td><td>1,481,160</td><td>80,168</td><td>113,138</td><td>258,911</td><td>425,169</td><td>66,580</td><td>390,038</td><td>117,156</td><td>-</td><td>526,222</td></tr><tr><td>1935</td><td>1,667,423</td><td>91,508</td><td>212,112</td><td>411,022</td><td>459,179</td><td>43,133</td><td>342,275</td><td>108,194</td><td>-</td><td>71,637</td></tr><tr><td>1936</td><td>2,021,075</td><td>94,943</td><td>378,840</td><td>505,464</td><td>501,166</td><td>68,990</td><td>379,540</td><td>92,132</td><td>6,073</td><td></td></tr><tr><td>1937</td><td>2,207,608</td><td>137,499</td><td>305,548</td><td>594,245</td><td>552,254</td><td>69,919</td><td>449,854</td><td>98,289</td><td>6,217</td><td>-</td></tr><tr><td>1938</td><td>2,287,075</td><td>139,349</td><td>416,874</td><td>567,979</td><td>568,182</td><td>46,233</td><td>416,754</td><td>131,704</td><td>-</td><td></td></tr><tr><td>1938-Mar.</td><td>196,277</td><td>247</td><td>62,686</td><td>43,450</td><td>47,855</td><td>2,914</td><td>26,714</td><td>12,411</td><td>1,594</td><td>-</td></tr><tr><td>Apr.</td><td>162,061</td><td>166</td><td>25,526</td><td>42,035</td><td>43,583</td><td>3,453</td><td>34,367</td><td>12,931</td><td>327</td><td>-</td></tr><tr><td>May</td><td>160,952</td><td>142</td><td>24,923</td><td>44,203</td><td>49,633</td><td>2,928</td><td>27,727</td><td>11,396</td><td>462</td><td>-</td></tr><tr><td>June</td><td>190,879</td><td>275</td><td>38,550</td><td>54,049</td><td>50,862</td><td>2,948</td><td>31,408</td><td>12,787</td><td>746</td><td>-</td></tr><tr><td>July</td><td>228,760</td><td>50,822</td><td>25,645</td><td>52,440</td><td>47,461</td><td>3,373</td><td>34,344</td><td>14,675</td><td>1,036</td><td>-</td></tr><tr><td>Aug.</td><td>241,655</td><td>60,362</td><td>27,296</td><td>52,522</td><td>54,432</td><td>4,078</td><td>30,445</td><td>12,520</td><td>286</td><td>-</td></tr><tr><td>Sept.</td><td>183,434</td><td>11,653</td><td>22,544</td><td>47,244</td><td>50,952</td><td>3,029</td><td>34,050</td><td>13,962</td><td>698</td><td>-</td></tr><tr><td>Oct.</td><td>191,134</td><td>2,552</td><td>37,519</td><td>54,603</td><td>46,291</td><td>3,592</td><td>31,517</td><td>15,060</td><td>257</td><td>-</td></tr><tr><td>Nov.</td><td>185,659</td><td>364</td><td>29,324</td><td>57,573</td><td>47,539</td><td>4,212</td><td>31,399</td><td>15,248</td><td>443</td><td>-</td></tr><tr><td>Dec.</td><td>177,041</td><td>322</td><td>33,701</td><td>51,270</td><td>43,815</td><td>3,895</td><td>31,087</td><td>12,951</td><td>763</td><td>-</td></tr><tr><td>1939-Jan.</td><td>164,858</td><td>300</td><td>27,828</td><td>38,151</td><td>47,359</td><td>3,831</td><td>34,355</td><td>13,034</td><td>397</td><td>-</td></tr><tr><td>Feb.</td><td>149,685</td><td>164</td><td>22,062</td><td>35,918</td><td>40,837</td><td>3,198</td><td>33,950</td><td>13,556</td><td>438</td><td>-</td></tr><tr><td>Mar.</td><td>182,771</td><td>213</td><td>42,461</td><td>47,356</td><td>49,321</td><td>3,126</td><td>34,116</td><td>12,178</td><td>301</td><td>-</td></tr></table>
Including excess-profit tax collections.
Including tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
COLLECTIONS OF
INTERNAL REVENUE
YEARLY, FISCAL YEARS 1929 TO 1938
MONTHLY, JANUARY 1938 TO MARCH 1939
2
8
Receipts and Expenditures under Social Security Act
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">Fiscal Year</th><th colspan="3">Receipts</th><th colspan="6">Expenditures</th></tr><tr><th>Employment taxe Title VIII</th><th>Tax on Employers of 8 or more, (Title IX, Sec. 901)</th><th>Total Receipts</th><th>Administrative Expenses 1/</th><th>Grants to States Unemployment compensation administration</th><th>Old-Age Assistance, etc.</th><th>Total grants to states</th><th>Refunds to states of taxes collected under Title IX, Sec. 901 2/</th><th>Transference to Old-Age Reserve Account (Title II)</th><th>Total Expenditures 3/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>.9</td><td>26.9</td><td>27.3</td><td>-</td><td>-</td><td>28.4</td></tr><tr><td>1937</td><td>194.3</td><td>57.3</td><td>252.2</td><td>15.3</td><td>9.1</td><td>157.8</td><td>166.9</td><td>-</td><td>265.0</td><td>447.7</td></tr><tr><td>1938</td><td>514.4</td><td>90.1</td><td>604.4</td><td>20.0</td><td>41.9</td><td>229.6</td><td>271.5</td><td>40.6</td><td>387.0</td><td>719.1</td></tr><tr><td>1939-July</td><td>28.8</td><td>2.6</td><td>31.3</td><td>1.9</td><td>8.0</td><td>30.0</td><td>38.9</td><td>-</td><td>38.0</td><td>77.9</td></tr><tr><td>Aug.</td><td>97.8</td><td>8.0</td><td>105.8</td><td>1.8</td><td>5.3</td><td>24.3</td><td>30.5</td><td>-</td><td>38.0</td><td>70.4</td></tr><tr><td>Sept.</td><td>2.2</td><td>.5</td><td>2.7</td><td>1.8</td><td>1.2</td><td>6.8</td><td>8.0</td><td>-</td><td>33.0</td><td>42.8</td></tr><tr><td>Oct.</td><td>30.6</td><td>2.9</td><td>33.5</td><td>1.8</td><td>9.1</td><td>38.1</td><td>47.2</td><td>-</td><td>32.0</td><td>81.0</td></tr><tr><td>Nov.</td><td>95.7</td><td>7.1</td><td>102.8</td><td>1.7</td><td>6.3</td><td>20.3</td><td>26.6</td><td>-</td><td>32.0</td><td>60.3</td></tr><tr><td>Dec.</td><td>2.5</td><td>.5</td><td>3.0</td><td>1.6</td><td>.6</td><td>11.7</td><td>12.3</td><td>-</td><td>32.0</td><td>45.9</td></tr><tr><td>Jan.</td><td>28.9</td><td>12.9</td><td>41.7</td><td>1.7</td><td>4.6</td><td>26.2</td><td>30.8</td><td>-</td><td>37.0</td><td>69.5</td></tr><tr><td>Feb.</td><td>102.2</td><td>52.1</td><td>154.4</td><td>1.8</td><td>2.6</td><td>21.6</td><td>24.2</td><td>-</td><td>50.0</td><td>76.0</td></tr><tr><td>Mar.</td><td>2.2</td><td>1.7</td><td>3.9</td><td>1.7</td><td>2.2</td><td>19.3</td><td>21.5</td><td>-</td><td>50.0</td><td>73.2</td></tr><tr><td>Total fiscal year 1939 to date</td><td>390.9</td><td>88.2</td><td>479.1</td><td>15.9</td><td>40.2</td><td>199.0</td><td>239.2</td><td>-</td><td>342.0</td><td>597.1</td></tr><tr><td>Grand total</td><td>1,099.6</td><td>236.1</td><td>1,335.7</td><td>52.3</td><td>92.2</td><td>613.2</td><td>705.4</td><td>40.6</td><td>994.0</td><td>1,792.3</td></tr></table>
Note: Figures in this and four succeeding tables are rounded to nearest tenths of millions and will not necessarily add to totals.
1/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act. Does not include administrative expenses payable from other appropriations. The principal agencies in the latter group are the Bureau of Internal Revenue and the Public Health Service of the Treasury Department, and the Office of Education of the Department of Interior.
2/ $40,561,836.43 appropriated in fiscal year 1938 for making refund to certain states of portions of employers' tax for the calendar year 1936 collected under Title IX, Section 901 of the Social Security Act.
3/ Excludes expenditures from the appropriation of $6,902,491 made to the "Railroad Unemployment Insurance Administration Fund," to date. This appropriation is equivalent to the amount that carriers have paid for the fiscal years 1936 and 1937 under Title IX, Section 901 of the Social Security Act.
Old-Age Reserve Account
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">Cumulative as of end of Fiscal Year or of month</th><th colspan="4">Receipts</th><th colspan="2">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Transfers from general fund</th><th>Balance available for transfers</th><th>Total</th><th>Interest on investments</th><th>Total Receipts</th><th>Benefit Payments</th><th>Total investments</th><th>To credit of appropriation</th><th>To credit of disbursing officers</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>265.0</td><td>-</td><td>265.0</td><td>2.3</td><td>267.3</td><td>-</td><td>267.2</td><td>267.1</td><td>.1</td></tr><tr><td>1938</td><td>652.0</td><td>113.0</td><td>765.0</td><td>17.7</td><td>782.7</td><td>5.4</td><td>777.2</td><td>662.3</td><td>113.0</td><td>1.9</td></tr><tr><td>1939-July</td><td>690.0</td><td>435.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>6.2</td><td>1,136.5</td><td>700.3</td><td>435.0</td><td>1.2</td></tr><tr><td>Aug.</td><td>728.0</td><td>397.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>7.0</td><td>1,135.6</td><td>733.3</td><td>397.0</td><td>5.3</td></tr><tr><td>Sept.</td><td>761.0</td><td>364.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>7.9</td><td>1,134.8</td><td>766.3</td><td>364.0</td><td>4.5</td></tr><tr><td>Oct.</td><td>793.0</td><td>332.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>9.0</td><td>1,133.7</td><td>798.3</td><td>332.0</td><td>3.4</td></tr><tr><td>Nov.</td><td>825.0</td><td>300.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>10.0</td><td>1,132.7</td><td>830.3</td><td>300.0</td><td>2.4</td></tr><tr><td>Dec.</td><td>857.0</td><td>268.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>11.1</td><td>1,131.6</td><td>862.3</td><td>268.0</td><td>1.3</td></tr><tr><td>Jan.</td><td>894.0</td><td>231.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>12.2</td><td>1,130.5</td><td>894.3</td><td>231.0</td><td>5.2</td></tr><tr><td>Feb.</td><td>944.0</td><td>181.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>13.3</td><td>1,129.3</td><td>944.3</td><td>181.0</td><td>4.0</td></tr><tr><td>Mar.</td><td>994.0</td><td>131.0</td><td>1,125.0</td><td>17.7</td><td>1,142.7</td><td>14.8</td><td>1,127.9</td><td>994.3</td><td>131.0</td><td>2.6</td></tr></table>
1/ Includes balance of appropriation available for transfers.
Unemployment Trust Fund
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>Cumulative as of end of fiscal year or of month</th><th colspan="3">Receipts</th><th>Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Deposits by States 1/</th><th>Interest on Investments</th><th>Total Receipts</th><th>Withdrawals by States</th><th>Total</th><th>Investments</th><th>Cash</th></tr><tr><td>1936</td><td>18.9</td><td>.1</td><td>18.9</td><td>-</td><td>18.9</td><td>18.9</td><td>-</td></tr><tr><td>1937</td><td>310.6</td><td>2.8</td><td>313.4</td><td>1.0</td><td>312.4</td><td>312.3</td><td>.1</td></tr><tr><td>1938</td><td>1,058.2</td><td>18.0</td><td>1,076.2</td><td>192.0</td><td>884.2</td><td>872.0</td><td>12.2</td></tr><tr><td>1939-July</td><td>1,093.7</td><td>18.0</td><td>1,111.7</td><td>227.9</td><td>883.8</td><td>872.0</td><td>11.8</td></tr><tr><td>Aug.</td><td>1,225.0</td><td>18.0</td><td>1,243.0</td><td>280.7</td><td>962.4</td><td>954.0</td><td>8.4</td></tr><tr><td>Sept.</td><td>1,260.4</td><td>18.0</td><td>1,278.4</td><td>320.7</td><td>957.7</td><td>950.0</td><td>7.7</td></tr><tr><td>Oct.</td><td>1,298.4</td><td>18.1</td><td>1,316.6</td><td>360.4</td><td>956.2</td><td>936.0</td><td>20.2</td></tr><tr><td>Nov.</td><td>1,423.5</td><td>18.1</td><td>1,441.6</td><td>386.8</td><td>1,054.8</td><td>1,032.0</td><td>22.8</td></tr><tr><td>Dec.</td><td>1,460.4</td><td>18.1</td><td>1,478.6</td><td>406.3</td><td>1,072.3</td><td>1,064.0</td><td>8.3</td></tr><tr><td>Jan.</td><td>1,499.2</td><td>30.0</td><td>1,529.2</td><td>439.6</td><td>1,089.6</td><td>1,074.0</td><td>15.6</td></tr><tr><td>Feb.</td><td>1,647.5</td><td>30.0</td><td>1,677.5</td><td>475.6</td><td>1,201.9</td><td>1,185.0</td><td>16.9</td></tr><tr><td>Mar.</td><td>1,681.5</td><td>30.1</td><td>1,711.5</td><td>519.5</td><td>1,192.0</td><td>1,185.0</td><td>7.0</td></tr></table>
1/ Includes in 1938 the proceeds of refunds to States of taxes collected under Title IX, Section 901 of the Social Security Act, amounting to $40,561,886.43.
<table><tr><th>Parameter</th><th>Baseline</th><th>Enhanced</th></tr><tr><td>Response time (ms)</td><td>150</td><td>110</td></tr><tr><td>Accuracy (%)</td><td>82</td><td>94</td></tr><tr><td>Power consumption (W)</td><td>2.5</td><td>1.2</td></tr></table>
9
Receipts and Expenditures Under Railroad Retirement Act
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>Fiscal Year</th><th colspan="2">Receipts</th><th colspan="2">Expenditures</th></tr><tr><th></th><th>Taxes upon carriers and their employees</th><th>Administrative Expenses</th><th>Transfers to Railroad Retirement Act.</th><th>Total Expenditures</th></tr><tr><td>1936</td><td>-</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>-</td><td>1.5</td></tr><tr><td>1938</td><td>150.1</td><td>2.6</td><td>146.4</td><td>149.0</td></tr><tr><td>1939-July</td><td>.4</td><td>.2</td><td>22.0</td><td>22.2</td></tr><tr><td>Aug.</td><td>25.5</td><td>.2</td><td>9.5</td><td>9.7</td></tr><tr><td>Sept.</td><td>-</td><td>.3</td><td>11.5</td><td>11.8</td></tr><tr><td>Oct.</td><td>.8</td><td>.2</td><td>11.5</td><td>11.7</td></tr><tr><td>Nov.</td><td>26.5</td><td>.2</td><td>16.5</td><td>16.7</td></tr><tr><td>Dec.</td><td>-</td><td>.3</td><td>16.5</td><td>16.8</td></tr><tr><td>Jan.</td><td>.9</td><td>.3</td><td>1.5</td><td>1.8</td></tr><tr><td>Feb.</td><td>27.5</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>Mar.</td><td>-</td><td>.3</td><td>18.0</td><td>18.3</td></tr><tr><td>Total fiscal year 1939 to date.</td><td>81.7</td><td>2.4</td><td>107.0</td><td>109.4</td></tr><tr><td>Grand total</td><td>232.2</td><td>6.7</td><td>253.4</td><td>260.1</td></tr></table>
Note: Includes Railroad Unemployment Insurance Act.
Railroad Retirement Account
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">Cumulative as of end of Fiscal year or of month</th><th colspan="4">Receipts</th><th rowspan="2">Expenditures</th><th colspan="3">Balance</th></tr><tr><th colspan="3">Appropriations by Congress</th><th>Interest on investments</th><th>Total Receipts</th><th>Total</th><th>Investments</th><th>Unexpended:</th></tr><tr><th></th><th>Transfers from general fund 1/</th><th>Balance available for transfers</th><th>Total</th><th></th><th>Benefit Payments</th><th></th><th>To credit of appropriations 2/</th><th>To credit of disbursement officer</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>46.6</td><td>-</td><td>46.6</td><td>-</td></tr><tr><td>1937</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>146.4</td><td>.1</td><td>146.5</td><td>1.4</td><td>147.9</td><td>79.8</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939-July</td><td>168.4</td><td>96.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>87.9</td><td>178.3</td><td>68.2</td><td>96.5</td><td>13.6</td></tr><tr><td>Aug.</td><td>177.9</td><td>86.9</td><td>264.8</td><td>1.4</td><td>266.2</td><td>96.3</td><td>169.9</td><td>69.7</td><td>87.0</td><td>13.1</td></tr><tr><td>Sept.</td><td>189.4</td><td>75.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>104.9</td><td>161.3</td><td>71.2</td><td>75.5</td><td>14.5</td></tr><tr><td>Oct.</td><td>200.9</td><td>63.9</td><td>264.8</td><td>1.4</td><td>266.2</td><td>113.7</td><td>152.5</td><td>72.7</td><td>64.1</td><td>15.8</td></tr><tr><td>Nov.</td><td>217.4</td><td>47.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>122.3</td><td>143.9</td><td>74.2</td><td>47.6</td><td>22.1</td></tr><tr><td>Dec.</td><td>233.9</td><td>30.9</td><td>264.8</td><td>1.4</td><td>266.2</td><td>131.3</td><td>134.9</td><td>75.7</td><td>31.1</td><td>28.1</td></tr><tr><td>Jan.</td><td>235.4</td><td>29.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>140.1</td><td>126.0</td><td>77.2</td><td>29.6</td><td>19.3</td></tr><tr><td>Feb.</td><td>235.4</td><td>29.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>149.0</td><td>117.1</td><td>77.2</td><td>29.6</td><td>10.4</td></tr><tr><td>Mar.</td><td>253.4</td><td>11.4</td><td>264.8</td><td>1.4</td><td>266.2</td><td>158.3</td><td>107.8</td><td>77.2</td><td>11.6</td><td>19.1</td></tr></table>
1/ Transfers from general fund were not reflected until July 1, 1937.
2/ Includes balance of appropriation available for transfers subsequent to June 30, 1937.
10
Cash Income and Outgo of the Treasury Fiscal Year 1939
(These figures are not intended to reflect the budgetary position of the Government. They will not agree with budgetary figures on receipts, expenditures and deficit such as those appearing in Daily Treasury Statements and in other tables in this Bulletin. For an explanation of the revisions made in Daily Treasury Statement figures to arrive at this cash series, see the text in February
Bulletin. All figures in the table at the bottom of the page have now been revised in accordance with that explanation.
(in millions of dollars)
<table><tr><th></th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Total</th></tr><tr><td><b>CASH INCOME</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budget:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax.</td><td>47</td><td>32</td><td>498</td><td>41</td><td>36</td><td>481</td><td>48</td><td>56</td><td>506</td><td>1,745</td></tr><tr><td>Miscellaneous internal revenue.</td><td>185</td><td>282</td><td>169</td><td>209</td><td>175</td><td>180</td><td>172</td><td>142</td><td>183</td><td>1,697</td></tr><tr><td>Taxes under Social Security Act.</td><td>31</td><td>106</td><td>3</td><td>33</td><td>103</td><td>3</td><td>42</td><td>154</td><td>4</td><td>479</td></tr><tr><td>Taxes upon carriers and their employees.</td><td>-</td><td>26</td><td>-</td><td>1</td><td>26</td><td>-</td><td>1</td><td>28</td><td>-</td><td>82</td></tr><tr><td>Customs.</td><td>23</td><td>29</td><td>29</td><td>31</td><td>27</td><td>25</td><td>24</td><td>22</td><td>29</td><td>239</td></tr><tr><td>Other.</td><td>16</td><td>12</td><td>12</td><td>17</td><td>15</td><td>15</td><td>18</td><td>15</td><td>15</td><td>135</td></tr><tr><td>Subtotal.</td><td>302</td><td>487</td><td>711</td><td>332</td><td>382</td><td>704</td><td>305</td><td>417</td><td>737</td><td>4,377</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment trust fund (dispose by States).</td><td>36</td><td>131</td><td>35</td><td>38</td><td>125</td><td>37</td><td>39</td><td>148</td><td>34</td><td>623</td></tr><tr><td>Trust accounts.</td><td>27</td><td>14</td><td>21</td><td>25</td><td>14</td><td>16</td><td>20</td><td>16</td><td>25</td><td>178</td></tr><tr><td>Subtotal.</td><td>63</td><td>145</td><td>56</td><td>63</td><td>139</td><td>53</td><td>59</td><td>164</td><td>59</td><td>801</td></tr><tr><td>Total cash income.</td><td>365</td><td>632</td><td>767</td><td>395</td><td>521</td><td>757</td><td>364</td><td>581</td><td>796</td><td>5,178</td></tr><tr><td><b>CASH OUTGO</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budget:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>National defense.</td><td>96</td><td>98</td><td>88</td><td>95</td><td>98</td><td>99</td><td>103</td><td>84</td><td>98</td><td>859</td></tr><tr><td>Social Security Act (grants and administrative expenses).</td><td>40</td><td>32</td><td>10</td><td>49</td><td>28</td><td>14</td><td>33</td><td>26</td><td>23</td><td>255</td></tr><tr><td>Interest on the public debt.</td><td>13</td><td>16</td><td>146</td><td>67</td><td>9</td><td>172</td><td>18</td><td>17</td><td>120</td><td>578</td></tr><tr><td>Public Works.</td><td>73</td><td>81</td><td>94</td><td>99</td><td>89</td><td>120</td><td>99</td><td>102</td><td>93</td><td>850</td></tr><tr><td>Agricultural aid.</td><td>79</td><td>50</td><td>38</td><td>75</td><td>78</td><td>66</td><td>65</td><td>91</td><td>135</td><td>677</td></tr><tr><td>Works Progress Administration.</td><td>172</td><td>193</td><td>194</td><td>207</td><td>195</td><td>219</td><td>185</td><td>160</td><td>201</td><td>1,726</td></tr><tr><td>Other.</td><td>155</td><td>164</td><td>136</td><td>133</td><td>132</td><td>122</td><td>139</td><td>133</td><td>132</td><td>1,246</td></tr><tr><td>Subtotal.</td><td>628</td><td>634</td><td>706</td><td>725</td><td>629</td><td>812</td><td>642</td><td>613</td><td>802</td><td>6,191</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation.</td><td>58*</td><td>10</td><td>24</td><td>19</td><td>20</td><td>8</td><td>38</td><td>17*</td><td>6*</td><td>38</td></tr><tr><td>Commodity Credit Corporation.</td><td>10</td><td>31</td><td>27</td><td>23</td><td>18</td><td>15</td><td>10</td><td>-</td><td>2</td><td>136</td></tr><tr><td>Unemployment trust fund.</td><td>36</td><td>53</td><td>40</td><td>40</td><td>26</td><td>19</td><td>33</td><td>36</td><td>44</td><td>327</td></tr><tr><td>Old-age reserve account.</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>9</td></tr><tr><td>Railroad retirement account.</td><td>8</td><td>8</td><td>8</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>78</td></tr><tr><td>Other.</td><td>40*</td><td>43</td><td>44</td><td>10</td><td>2*</td><td>29</td><td>4*</td><td>27</td><td>19*</td><td>88</td></tr><tr><td>Subtotal.</td><td>136</td><td>146</td><td>144</td><td>102</td><td>72</td><td>81</td><td>87</td><td>56</td><td>31</td><td>676</td></tr><tr><td>Redemption of adjusted service bonds.</td><td>6</td><td>5</td><td>4</td><td>4</td><td>3</td><td>3</td><td>3</td><td>2</td><td>3</td><td>33</td></tr><tr><td>Total cash outgo.</td><td>591</td><td>785</td><td>854</td><td>831</td><td>704</td><td>896</td><td>732</td><td>671</td><td>836</td><td>6,900</td></tr><tr><td>EXCESS OF CASH OUTGO.</td><td>226</td><td>153</td><td>87</td><td>436</td><td>183</td><td>139</td><td>368</td><td>90</td><td>40</td><td>1,722</td></tr></table>
Excess of credits, deduct.
Cash Income and Outgo and Excess of Cash Outgo Since January 1934
(In millions of dollars)
<table><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td><b>Cash income</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1934</td><td>224</td><td>216</td><td>432</td><td>198</td><td>228</td><td>400</td><td>232</td><td>296</td><td>462</td><td>280</td><td>245</td><td>407</td></tr><tr><td>1935</td><td>229</td><td>231</td><td>621</td><td>249</td><td>261</td><td>479</td><td>278</td><td>320</td><td>440</td><td>260</td><td>226</td><td>453</td></tr><tr><td>1936</td><td>249</td><td>240</td><td>771</td><td>255</td><td>249</td><td>542</td><td>311</td><td>362</td><td>522</td><td>299</td><td>259</td><td>547</td></tr><tr><td>1937</td><td>303</td><td>326</td><td>1,115</td><td>421</td><td>390</td><td>925</td><td>438</td><td>541</td><td>852</td><td>389</td><td>433</td><td>930</td></tr><tr><td>1938</td><td>395</td><td>460</td><td>1,038</td><td>319</td><td>519</td><td>824</td><td>365</td><td>632</td><td>767</td><td>395</td><td>521</td><td>757</td></tr><tr><td>1939</td><td>364</td><td>581</td><td>796</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Cash outgo</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1934</td><td>967</td><td>647</td><td>627</td><td>688</td><td>541</td><td>733</td><td>411</td><td>501</td><td>520</td><td>687</td><td>588</td><td>656</td></tr><tr><td>1935</td><td>468</td><td>530</td><td>577</td><td>633</td><td>551</td><td>737</td><td>614</td><td>561</td><td>610</td><td>658</td><td>474</td><td>632</td></tr><tr><td>1936</td><td>431</td><td>489</td><td>621</td><td>650</td><td>549</td><td>1,600</td><td>919</td><td>707</td><td>736</td><td>762</td><td>602</td><td>676</td></tr><tr><td>1937</td><td>476</td><td>550</td><td>791</td><td>720</td><td>542</td><td>758</td><td>558</td><td>566</td><td>649</td><td>582</td><td>523</td><td>689</td></tr><tr><td>1938</td><td>537</td><td>481</td><td>745</td><td>774</td><td>665</td><td>844</td><td>591</td><td>785</td><td>854</td><td>831</td><td>704</td><td>896</td></tr><tr><td>1939</td><td>732</td><td>671</td><td>836</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Excess of cash outgo</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1934</td><td>743</td><td>431</td><td>195</td><td>490</td><td>313</td><td>333</td><td>179</td><td>205</td><td>58</td><td>407</td><td>343</td><td>249</td></tr><tr><td>1935</td><td>239</td><td>299</td><td>414</td><td>384</td><td>290</td><td>258</td><td>336</td><td>241</td><td>170</td><td>398</td><td>248</td><td>179</td></tr><tr><td>1936</td><td>182</td><td>219</td><td>-150</td><td>395</td><td>300</td><td>1,058</td><td>608</td><td>345</td><td>214</td><td>463</td><td>343</td><td>189</td></tr><tr><td>1937</td><td>173</td><td>224</td><td>-324</td><td>299</td><td>152</td><td>-167</td><td>120</td><td>25</td><td>-203</td><td>193</td><td>90</td><td>-241</td></tr><tr><td>1938</td><td>142</td><td>21</td><td>-293</td><td>455</td><td>146</td><td>20</td><td>226</td><td>153</td><td>87</td><td>436</td><td>183</td><td>139</td></tr><tr><td>1939</td><td>368</td><td>90</td><td>40</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Note: Negative figures denote excess of cash income.
CASH INCOME AND OUTGO AND NET CASH OUTGO
January 1934 to Date
For the basis of these figures see the text in February issue of the bulletin
GENERAL FUND AND PUBLIC DEBT
-12-
1044
13
Composition of Treasury General Fund
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>End of month</th><th colspan="5">Balance</th><th colspan="4">Current assets</th><th>Current liabilities</th></tr><tr><th></th><th>Total</th><th>"Working" balance</th><th>Seigniorage</th><th>Increment on gold</th><th>Inactive gold</th><th>Total</th><th>Bullion, coin and currency</th><th>Deposits in Fed. Reserve Banks</th><th>Special deposits a/c sales of Gov't. Secs.</th><th>All other deposits and collections</th></tr><tr><td>1933-June</td><td>862</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,103</td><td>184</td><td>51</td><td>837</td><td>31</td><td>241</td></tr><tr><td>1934-June</td><td>2,582</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,033</td><td>1,045</td><td>97</td><td>1,854</td><td>37</td><td>451</td></tr><tr><td>1935-June</td><td>1,841</td><td>1,001</td><td>140</td><td>700</td><td>-</td><td>2,016</td><td>1,044</td><td>118</td><td>799</td><td>55</td><td>175</td></tr><tr><td>1936-June</td><td>2,682</td><td>2,225</td><td>316</td><td>141</td><td>-</td><td>2,936</td><td>855</td><td>862</td><td>1,151</td><td>58</td><td>254</td></tr><tr><td>1937-June</td><td>2,554</td><td>970</td><td>356</td><td>141</td><td>1,087</td><td>2,709</td><td>1,853</td><td>141</td><td>649</td><td>55</td><td>156</td></tr><tr><td>1938-June</td><td>2,216</td><td>1,628</td><td>446</td><td>142</td><td>-</td><td>2,419</td><td>830</td><td>929</td><td>611</td><td>49</td><td>203</td></tr><tr><td>1938-Mar.</td><td>3,140</td><td>1,388</td><td>427</td><td>142</td><td>1,183</td><td>3,287</td><td>2,055</td><td>373</td><td>811</td><td>48</td><td>147</td></tr><tr><td>Apr.</td><td>2,689</td><td>2,114</td><td>433</td><td>142</td><td>-</td><td>2,845</td><td>707</td><td>1,360</td><td>728</td><td>50</td><td>156</td></tr><tr><td>May</td><td>2,567</td><td>1,985</td><td>440</td><td>142</td><td>-</td><td>2,708</td><td>779</td><td>1,203</td><td>679</td><td>47</td><td>141</td></tr><tr><td>June</td><td>2,216</td><td>1,628</td><td>446</td><td>142</td><td>-</td><td>2,419</td><td>830</td><td>929</td><td>611</td><td>49</td><td>203</td></tr><tr><td>July</td><td>2,116</td><td>1,523</td><td>451</td><td>142</td><td>-</td><td>2,299</td><td>886</td><td>777</td><td>585</td><td>50</td><td>183</td></tr><tr><td>Aug.</td><td>2,260</td><td>1,663</td><td>455</td><td>142</td><td>-</td><td>2,407</td><td>1,023</td><td>778</td><td>556</td><td>50</td><td>147</td></tr><tr><td>Sept.</td><td>2,978</td><td>2,376</td><td>460</td><td>142</td><td>-</td><td>3,164</td><td>1,360</td><td>963</td><td>791</td><td>49</td><td>186</td></tr><tr><td>Oct.</td><td>2,569</td><td>1,960</td><td>467</td><td>142</td><td>-</td><td>2,733</td><td>1,330</td><td>603</td><td>747</td><td>53</td><td>164</td></tr><tr><td>Nov.</td><td>2,447</td><td>1,827</td><td>478</td><td>142</td><td>-</td><td>2,625</td><td>1,265</td><td>570</td><td>736</td><td>54</td><td>178</td></tr><tr><td>Dec.</td><td>3,083</td><td>2,449</td><td>492</td><td>142</td><td>-</td><td>3,285</td><td>1,304</td><td>1,033</td><td>888</td><td>60</td><td>202</td></tr><tr><td>1939-Jan.</td><td>2,933</td><td>2,288</td><td>503</td><td>142</td><td>-</td><td>3,119</td><td>1,385</td><td>792</td><td>876</td><td>66</td><td>186</td></tr><tr><td>Feb.</td><td>3,343</td><td>2,693</td><td>508</td><td>142</td><td>-</td><td>3,517</td><td>1,354</td><td>1,222</td><td>873</td><td>68</td><td>174</td></tr><tr><td>Mar.</td><td>3,389</td><td>2,732</td><td>515</td><td>142</td><td>-</td><td>3,635</td><td>1,313</td><td>1,388</td><td>866</td><td>68</td><td>246</td></tr></table>
Statement of the Outstanding Public Debt on June 30, 1938 and March 31, 1939
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th></th><th>June 30, 1938</th><th>March 31, 1939</th><th>Increase(+) Decrease(-)</th><th></th><th>June 30, 1938</th><th>March 31, 1939</th><th>Increase(+) Decrease(-)</th></tr><tr><td>Market issues, etc:</td><td></td><td></td><td></td><td>Special issues:</td><td></td><td></td><td></td></tr><tr><td>Pre-war bonds</td><td>197</td><td>196</td><td>-1</td><td>Government Life Insurance</td><td></td><td></td><td></td></tr><tr><td>Treasury bonds</td><td>21,846</td><td>25,218</td><td>+3,372</td><td>Fund</td><td>523</td><td>514</td><td>-9</td></tr><tr><td>U. S. Savings bonds</td><td>1,237</td><td>1,701</td><td>+464</td><td>Old-Age Reserve Account</td><td>662</td><td>994</td><td>+332</td></tr><tr><td>Adjusted Service bonds</td><td>319</td><td>291</td><td>-28</td><td>Railroad Retirement Account</td><td>66</td><td>77</td><td>+11</td></tr><tr><td>Treasury notes</td><td>9,147</td><td>7,270</td><td>-1,877</td><td>Government retirement funds</td><td>397</td><td>462</td><td>+65</td></tr><tr><td>Treasury bills</td><td>1,154</td><td>1,311</td><td>+157</td><td>Adjusted Service Certificate Fund</td><td>26</td><td>22</td><td>-4</td></tr><tr><td>Matured debt on which interest has ceased</td><td>141</td><td>125</td><td>-16</td><td>Unemployment Trust Fund</td><td>872</td><td>1,185</td><td>+313</td></tr><tr><td>Debt bearing no interest</td><td>448</td><td>419</td><td>-29</td><td>Postal Savings System</td><td>45</td><td>85</td><td>+40</td></tr><tr><td></td><td></td><td></td><td></td><td>Federal Deposit Insurance Corporation</td><td>85</td><td>115</td><td>+30</td></tr><tr><td>Total Market issues, etc</td><td>34,489</td><td>36,531</td><td>+2,042</td><td>Total Special issues</td><td>2,676</td><td>3,454</td><td>+778</td></tr><tr><td></td><td></td><td></td><td></td><td>Total</td><td>37,165</td><td>39,985</td><td>+2,820</td></tr></table>
Public Debt Accounts
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2"></th><th colspan="5">Receipts</th><th colspan="5">Expenditures</th></tr><tr><th colspan="3">Market Operations</th><th rowspan="2">Special Series</th><th rowspan="2">Total</th><th colspan="2">Market Operations</th><th rowspan="2">Special Series</th><th rowspan="2">Total</th><th rowspan="2">Excess of Receipts</th></tr><tr><th>Cash</th><th>Adjusted Serv. Bonds</th><th>Exchanges</th><th>Cash</th><th>Exchanges</th></tr><tr><td>Fiscal year 1938</td><td>4,775.7</td><td>12.7</td><td>2,673.8</td><td>2,158.5</td><td>9,620.7</td><td>5,166.0</td><td>2,673.8</td><td>1,040.8</td><td>8,880.6</td><td>740.1</td></tr><tr><td>1938-July</td><td>444.3</td><td>.8</td><td>-</td><td>135.7</td><td>580.8</td><td>553.1</td><td>-</td><td>1.0</td><td>554.1</td><td>26.7</td></tr><tr><td>Aug.</td><td>538.6</td><td>.7</td><td>-</td><td>134.9</td><td>674.2</td><td>270.0</td><td>-</td><td>2.5</td><td>272.5</td><td>401.7</td></tr><tr><td>Sept.</td><td>1,238.8</td><td>.6</td><td>423.9</td><td>35.5</td><td>1,698.8</td><td>429.6</td><td>423.9</td><td>45.6</td><td>899.1</td><td>799.7</td></tr><tr><td>Oct.</td><td>440.9</td><td>.5</td><td>-</td><td>33.5</td><td>474.9</td><td>427.4</td><td>-</td><td>17.2</td><td>444.6</td><td>30.3</td></tr><tr><td>Nov.</td><td>539.2</td><td>.5</td><td>-</td><td>143.6</td><td>683.3</td><td>501.0</td><td>-</td><td>2.0</td><td>503.0</td><td>180.3</td></tr><tr><td>Dec.</td><td>1,183.8</td><td>.5</td><td>928.6</td><td>68.1</td><td>2,181.0</td><td>426.0</td><td>928.6</td><td>2.6</td><td>1,357.2</td><td>823.8</td></tr><tr><td>1939-Jan.</td><td>549.5</td><td>.5</td><td>-</td><td>89.5</td><td>639.5</td><td>405.1</td><td>-</td><td>30.3</td><td>435.4</td><td>204.1</td></tr><tr><td>Feb.</td><td>471.4</td><td>.4</td><td>-</td><td>169.5</td><td>641.3</td><td>411.0</td><td>-</td><td>2.9</td><td>413.9</td><td>227.4</td></tr><tr><td>Mar.</td><td>571.0</td><td>.6</td><td>1,266.7</td><td>89.1</td><td>1,927.4</td><td>517.4</td><td>1,266.7</td><td>16.7</td><td>1,800.8</td><td>126.6</td></tr></table>
14
Composition of the Public Debt
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">End of month</th><th colspan="11">Gross debt</th><th rowspan="2">Balance in general fund</th><th rowspan="2">Gross debt less balance in general fund</th></tr><tr><th>Total</th><th>Total</th><th colspan="2">Bonds</th><th colspan="2">Notes</th><th colspan="2">Bills and ctf. of indebt.</th><th colspan="2">Special issues</th><th rowspan="2">Matured debt</th><th rowspan="2">Non-interest-bearing debt</th></tr><tr><th></th><th></th><th></th><th>Amount</th><th>% of total interest-bearing debt</th><th>Amount</th><th>% of total interest-bearing debt</th><th>Amount</th><th>% of total interest-bearing debt</th><th>Amount</th><th>% of total interest-bearing debt</th></tr><tr><td>1930-June...</td><td>16,185</td><td>15,922</td><td>12,112</td><td>76.1</td><td>1,626</td><td>10.2</td><td>1,420</td><td>8.9</td><td>764</td><td>4.8</td><td>32</td><td>231</td><td>319</td><td>15,866</td></tr><tr><td>1931-June...</td><td>16,801</td><td>16,519</td><td>13,530</td><td>81.9</td><td>452</td><td>2.7</td><td>2,246</td><td>13.6</td><td>291</td><td>1.8</td><td>52</td><td>230</td><td>472</td><td>16,329</td></tr><tr><td>1932-June...</td><td>19,487</td><td>19,161</td><td>14,250</td><td>74.4</td><td>1,261</td><td>6.6</td><td>3,341</td><td>17.4</td><td>309</td><td>1.6</td><td>60</td><td>266</td><td>417</td><td>19,070</td></tr><tr><td>1933-June...</td><td>22,539</td><td>22,158</td><td>14,223</td><td>64.2</td><td>4,549</td><td>20.5</td><td>3,063</td><td>13.8</td><td>323</td><td>1.5</td><td>66</td><td>315</td><td>862</td><td>21,677</td></tr><tr><td>1934-June...</td><td>27,053</td><td>26,481</td><td>16,510</td><td>62.4</td><td>6,653</td><td>25.1</td><td>2,922</td><td>11.0</td><td>396</td><td>1.5</td><td>54</td><td>518</td><td>2,582</td><td>24,471</td></tr><tr><td>1935-June...</td><td>28,701</td><td>27,645</td><td>14,936</td><td>54.0</td><td>10,023</td><td>36.3</td><td>2,053</td><td>7.4</td><td>633</td><td>2.3</td><td>231</td><td>825</td><td>1,841</td><td>26,860</td></tr><tr><td>1936-June...</td><td>33,779</td><td>32,989</td><td>18,628</td><td>56.5</td><td>11,381</td><td>34.5</td><td>2,354</td><td>7.1</td><td>626</td><td>1.9</td><td>169</td><td>621</td><td>2,682</td><td>31,097</td></tr><tr><td>1937-June...</td><td>36,425</td><td>35,800</td><td>21,322</td><td>59.6</td><td>10,617</td><td>29.7</td><td>2,303</td><td>6.4</td><td>1,558</td><td>4.3</td><td>119</td><td>506</td><td>2,553</td><td>33,872</td></tr><tr><td>1938-June...</td><td>37,165</td><td>36,576</td><td>23,599</td><td>64.5</td><td>9,117</td><td>25.0</td><td>1,154</td><td>3.2</td><td>2,676</td><td>7.3</td><td>141</td><td>448</td><td>2,216</td><td>34,949</td></tr><tr><td>1938-Mar....</td><td>37,556</td><td>37,000</td><td>22,604</td><td>61.1</td><td>10,076</td><td>27.2</td><td>1,802</td><td>4.9</td><td>2,518</td><td>6.8</td><td>98</td><td>458</td><td>3,140</td><td>34,416</td></tr><tr><td>Apr....</td><td>37,510</td><td>36,964</td><td>22,634</td><td>61.2</td><td>10,076</td><td>27.3</td><td>1,753</td><td>4.7</td><td>2,501</td><td>6.8</td><td>92</td><td>454</td><td>2,689</td><td>34,821</td></tr><tr><td>May....</td><td>37,422</td><td>36,871</td><td>22,660</td><td>61.5</td><td>10,076</td><td>27.3</td><td>1,553</td><td>4.2</td><td>2,582</td><td>7.0</td><td>101</td><td>450</td><td>2,567</td><td>34,855</td></tr><tr><td>June....</td><td>37,165</td><td>36,576</td><td>23,599</td><td>64.5</td><td>9,117</td><td>25.0</td><td>1,154</td><td>3.2</td><td>2,676</td><td>7.3</td><td>141</td><td>448</td><td>2,216</td><td>34,949</td></tr><tr><td>July....</td><td>37,191</td><td>36,642</td><td>23,631</td><td>64.5</td><td>9,147</td><td>24.9</td><td>1,054</td><td>2.9</td><td>2,810</td><td>7.7</td><td>106</td><td>443</td><td>2,116</td><td>35,075</td></tr><tr><td>Aug....</td><td>37,593</td><td>37,051</td><td>23,658</td><td>63.9</td><td>9,147</td><td>24.7</td><td>1,304</td><td>3.5</td><td>2,942</td><td>7.9</td><td>102</td><td>440</td><td>2,260</td><td>35,333</td></tr><tr><td>Sept....</td><td>38,393</td><td>37,850</td><td>24,549</td><td>64.9</td><td>9,067</td><td>24.0</td><td>1,302</td><td>3.4</td><td>2,932</td><td>7.7</td><td>106</td><td>437</td><td>2,978</td><td>35,415</td></tr><tr><td>Oct....</td><td>38,423</td><td>37,897</td><td>24,579</td><td>64.9</td><td>9,067</td><td>23.9</td><td>1,302</td><td>3.4</td><td>2,949</td><td>7.8</td><td>93</td><td>433</td><td>2,569</td><td>35,854</td></tr><tr><td>Nov....</td><td>38,603</td><td>38,068</td><td>24,608</td><td>64.7</td><td>9,067</td><td>23.8</td><td>1,303</td><td>3.4</td><td>3,090</td><td>8.1</td><td>105</td><td>430</td><td>2,447</td><td>36,156</td></tr><tr><td>Dec....</td><td>39,427</td><td>38,899</td><td>25,941</td><td>66.7</td><td>8,496</td><td>21.8</td><td>1,306</td><td>3.4</td><td>3,156</td><td>8.1</td><td>101</td><td>427</td><td>3,083</td><td>36,344</td></tr><tr><td>1939-Jan....</td><td>39,631</td><td>39,097</td><td>26,077</td><td>66.7</td><td>8,496</td><td>21.7</td><td>1,309</td><td>3.3</td><td>3,215</td><td>8.3</td><td>109</td><td>425</td><td>2,933</td><td>36,698</td></tr><tr><td>Feb....</td><td>39,858</td><td>39,325</td><td>26,137</td><td>66.5</td><td>8,496</td><td>21.6</td><td>1,310</td><td>3.3</td><td>3,382</td><td>8.6</td><td>112</td><td>421</td><td>3,343</td><td>36,515</td></tr><tr><td>Mar....</td><td>39,985</td><td>39,442</td><td>27,407</td><td>69.5</td><td>7,270</td><td>18.4</td><td>1,311</td><td>3.3</td><td>3,454</td><td>8.8</td><td>125</td><td>418</td><td>3,389</td><td>36,596</td></tr></table>
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(In millions of dollars)
<table><tr><th rowspan="2">Year</th><th colspan="12">Purchases or sales (-)</th></tr><tr><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1936</td><td>18.5</td><td>4.5</td><td>32.7</td><td>19.0</td><td>15.8</td><td>30.5</td><td>15.5</td><td>3.8</td><td>47.4</td><td>27.0</td><td>5.9</td><td>24.2</td></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
15
16
Holdings of Direct and Guaranteed Interest-Bearing Obligations of the United States Government
(In millions of dollars)
<table><tr><th rowspan="2">At end of month</th><th colspan="3">Government agencies and trust funds</th><th colspan="3">Other holdere</th><th rowspan="2">Total direct obligations outstanding</th><th colspan="3">Guaranteed obligations</th></tr><tr><th>Special issues</th><th>United States Saving Bonds, 3% Adjusted Service Bonds of 1945, and 2½% Postal Savings Bonds</th><th>Market issues</th><th>Federal Reserve Banks</th><th>United States Saving Bonds, 3% Adjusted Service Bonds of 1945, and 2½% Postal Savings Bonds</th><th>Market issues otherwise held</th><th>Government agencies and trust funds</th><th>Market issues otherwise held</th><th>Total guaranteed obligations outstanding</th></tr><tr><td>1930-June</td><td>764</td><td>12</td><td>230</td><td>591</td><td>7</td><td>14,318</td><td>15,922</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1931-June</td><td>291</td><td>12</td><td>145</td><td>668</td><td>10</td><td>15,394</td><td>16,520</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1932-June</td><td>309</td><td>13</td><td>183</td><td>1,784</td><td>23</td><td>16,849</td><td>19,161</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1933-June</td><td>323</td><td>14</td><td>240</td><td>1,998</td><td>39</td><td>19,544</td><td>22,158</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934-June</td><td>396</td><td>15</td><td>880</td><td>2,430</td><td>63</td><td>22,696</td><td>26,480</td><td>-</td><td>681</td><td>681</td></tr><tr><td>1935-June</td><td>633</td><td>17</td><td>967</td><td>2,430</td><td>147</td><td>23,451</td><td>27,645</td><td>378</td><td>3,745</td><td>4,123</td></tr><tr><td>1936-Jan.</td><td>733</td><td>19</td><td>1,140</td><td>2,430</td><td>273</td><td>25,023</td><td>29,618</td><td>393</td><td>4,169</td><td>4,562</td></tr><tr><td>Feb.</td><td>736</td><td>20</td><td>1,148</td><td>2,430</td><td>297</td><td>25,015</td><td>29,646</td><td>397</td><td>4,233</td><td>4,630</td></tr><tr><td>Mar.</td><td>733</td><td>20</td><td>1,202</td><td>2,430</td><td>341</td><td>25,865</td><td>30,591</td><td>395</td><td>4,259</td><td>4,654</td></tr><tr><td>Apr.</td><td>732</td><td>19</td><td>1,220</td><td>2,430</td><td>366</td><td>25,834</td><td>30,601</td><td>394</td><td>4,282</td><td>4,676</td></tr><tr><td>May.</td><td>729</td><td>20</td><td>1,234</td><td>2,430</td><td>390</td><td>26,019</td><td>30,822</td><td>393</td><td>4,309</td><td>4,702</td></tr><tr><td>June.</td><td>626</td><td>20</td><td>1,280</td><td>2,430</td><td>1,128</td><td>27,272</td><td>32,756</td><td>391</td><td>4,327</td><td>4,718</td></tr><tr><td>July.</td><td>642</td><td>20</td><td>1,295</td><td>2,430</td><td>1,029</td><td>27,256</td><td>32,672</td><td>391</td><td>4,333</td><td>4,724</td></tr><tr><td>Aug.</td><td>630</td><td>21</td><td>1,315</td><td>2,430</td><td>1,007</td><td>27,218</td><td>32,621</td><td>383</td><td>4,284</td><td>4,667</td></tr><tr><td>Sept.</td><td>627</td><td>20</td><td>1,363</td><td>2,430</td><td>1,009</td><td>27,637</td><td>33,086</td><td>383</td><td>4,284</td><td>4,667</td></tr><tr><td>Oct.</td><td>623</td><td>21</td><td>1,366</td><td>2,430</td><td>1,006</td><td>27,635</td><td>33,081</td><td>382</td><td>4,285</td><td>4,667</td></tr><tr><td>Nov.</td><td>621</td><td>21</td><td>1,391</td><td>2,430</td><td>1,013</td><td>27,609</td><td>33,085</td><td>382</td><td>4,280</td><td>4,662</td></tr><tr><td>Dec.</td><td>632</td><td>20</td><td>1,418</td><td>2,430</td><td>1,024</td><td>28,175</td><td>33,699</td><td>381</td><td>4,281</td><td>4,662</td></tr><tr><td>1937-Jan.</td><td>683</td><td>21</td><td>1,437</td><td>2,430</td><td>1,045</td><td>28,206</td><td>33,822</td><td>381</td><td>4,281</td><td>4,662</td></tr><tr><td>Feb.</td><td>762</td><td>21</td><td>1,445</td><td>2,430</td><td>1,093</td><td>28,175</td><td>33,926</td><td>380</td><td>4,282</td><td>4,662</td></tr><tr><td>Mar.</td><td>806</td><td>22</td><td>1,571</td><td>2,430</td><td>1,240</td><td>27,999</td><td>34,068</td><td>376</td><td>4,286</td><td>4,662</td></tr><tr><td>Apr.</td><td>882</td><td>22</td><td>1,578</td><td>2,526</td><td>1,262</td><td>28,028</td><td>34,298</td><td>378</td><td>4,282</td><td>4,660</td></tr><tr><td>May.</td><td>959</td><td>22</td><td>1,598</td><td>2,526</td><td>1,280</td><td>28,209</td><td>34,594</td><td>382</td><td>4,278</td><td>4,660</td></tr><tr><td>June.</td><td>1,558</td><td>22</td><td>1,618</td><td>2,526</td><td>1,288</td><td>28,791</td><td>35,803</td><td>381</td><td>4,284</td><td>4,665</td></tr><tr><td>July.</td><td>1,699</td><td>22</td><td>1,626</td><td>2,526</td><td>1,312</td><td>28,932</td><td>36,117</td><td>379</td><td>4,324</td><td>4,703</td></tr><tr><td>Aug.</td><td>1,815</td><td>23</td><td>1,657</td><td>2,526</td><td>1,330</td><td>29,102</td><td>36,453</td><td>355</td><td>4,278</td><td>4,633</td></tr><tr><td>Sept.</td><td>1,905</td><td>23</td><td>1,667</td><td>2,526</td><td>1,346</td><td>28,800</td><td>36,267</td><td>355</td><td>4,278</td><td>4,633</td></tr><tr><td>Oct.</td><td>1,991</td><td>23</td><td>1,670</td><td>2,526</td><td>1,362</td><td>28,796</td><td>36,368</td><td>355</td><td>4,279</td><td>4,634</td></tr><tr><td>Nov.</td><td>2,118</td><td>23</td><td>1,674</td><td>2,564</td><td>1,380</td><td>28,755</td><td>36,514</td><td>365</td><td>4,279</td><td>4,644</td></tr><tr><td>Dec.</td><td>2,227</td><td>24</td><td>1,660</td><td>2,564</td><td>1,410</td><td>28,830</td><td>36,715</td><td>365</td><td>4,280</td><td>4,645</td></tr><tr><td>1938-Jan.</td><td>2,314</td><td>24</td><td>1,658</td><td>2,564</td><td>1,501</td><td>28,833</td><td>36,894</td><td>357</td><td>4,289</td><td>4,646</td></tr><tr><td>Feb.</td><td>2,481</td><td>24</td><td>1,660</td><td>2,564</td><td>1,540</td><td>28,815</td><td>37,084</td><td>357</td><td>4,289</td><td>4,646</td></tr><tr><td>Mar.</td><td>2,518</td><td>24</td><td>1,587</td><td>2,564</td><td>1,578</td><td>28,633</td><td>37,004</td><td>355</td><td>4,291</td><td>4,646</td></tr><tr><td>Apr.</td><td>2,501</td><td>25</td><td>1,762</td><td>2,564</td><td>1,605</td><td>28,509</td><td>36,966</td><td>353</td><td>4,294</td><td>4,647</td></tr><tr><td>May.</td><td>2,582</td><td>25</td><td>1,752</td><td>2,564</td><td>1,631</td><td>28,319</td><td>36,873</td><td>349</td><td>4,503</td><td>4,852</td></tr><tr><td>June.</td><td>2,676</td><td>25</td><td>1,754</td><td>2,564</td><td>1,652</td><td>27,908</td><td>36,579</td><td>344</td><td>4,509</td><td>4,853</td></tr><tr><td>July.</td><td>2,810</td><td>25</td><td>1,759</td><td>2,564</td><td>1,684</td><td>27,803</td><td>36,645</td><td>345</td><td>4,719</td><td>5,064</td></tr><tr><td>Aug.</td><td>2,943</td><td>25</td><td>1,759</td><td>2,564</td><td>1,711</td><td>28,052</td><td>37,054</td><td>344</td><td>4,671</td><td>5,015</td></tr><tr><td>Sept.</td><td>2,933</td><td>26</td><td>1,811</td><td>2,564</td><td>1,734</td><td>28,784</td><td>37,852</td><td>344</td><td>4,665</td><td>5,009</td></tr><tr><td>Oct.</td><td>2,949</td><td>26</td><td>1,831</td><td>2,564</td><td>1,764</td><td>28,765</td><td>37,899</td><td>328</td><td>4,673</td><td>5,001</td></tr><tr><td>Nov.</td><td>3,090</td><td>26</td><td>1,835</td><td>2,564</td><td>1,794</td><td>28,762</td><td>38,071</td><td>325</td><td>4,668</td><td>4,993</td></tr><tr><td>Dec.</td><td>3,156</td><td>26</td><td>1,847</td><td>2,564</td><td>1,843</td><td>29,475</td><td>38,911</td><td>325</td><td>4,667</td><td>4,992</td></tr><tr><td>1939-Jan.</td><td>3,215</td><td>26</td><td>1,856</td><td>2,564</td><td>1,967</td><td>29,469</td><td>39,097</td><td>320</td><td>4,667</td><td>4,987</td></tr><tr><td>Feb.</td><td>3,402</td><td>27</td><td>1,860</td><td>2,564</td><td>2,027</td><td>29,446</td><td>39,326</td><td>323</td><td>5,087</td><td>5,410</td></tr><tr><td>Mar.</td><td>3,454</td><td>27</td><td>1,851</td><td>2,564</td><td>2,083</td><td>29,463</td><td>39,442</td><td>324</td><td>5,090</td><td>5,414</td></tr></table>
Note: Holdings of Government agencies, etc., on basis of their accounts with the Treasury; holdings of Federal Reserve Banks on basis of their statements; other figures on basis of Public Debt Statements and Daily Treasury Statements, unrevised. Figures partly estimated.
17
Amount of Interest-Bearing Debt Outstanding, the Computed Annual Interest Charge and the Computed Rate of Interest
Comparative Yields of Average of All Long-Term U.S. Treasury Bonds and Average of High-Grade Corporate Bonds
<table><tr><th>End of Month</th><th>Interest-bearing debt</th><th>Computed annual interest charge</th><th>Computed rate of interest: Percent</th></tr><tr><td>1916-June</td><td>$971,562,590</td><td>$23,084,635</td><td>2.376</td></tr><tr><td>1917-June</td><td>2,712,549,476</td><td>83,625,482</td><td>3.120</td></tr><tr><td>1918-June</td><td>11,985,882,436</td><td>468,618,544</td><td>3.910</td></tr><tr><td>1919-June</td><td>25,234,496,273</td><td>1,054,204,509</td><td>4.178</td></tr><tr><td>1920-June</td><td>24,061,095,361</td><td>1,016,592,219</td><td>4.225</td></tr><tr><td>1921-June</td><td>23,737,352,080</td><td>1,029,917,903</td><td>4.339</td></tr><tr><td>1922-June</td><td>22,711,035,587</td><td>962,896,535</td><td>4.240</td></tr><tr><td>1923-June</td><td>22,007,890,754</td><td>927,331,341</td><td>4.214</td></tr><tr><td>1924-June</td><td>20,981,586,429</td><td>876,960,673</td><td>4.180</td></tr><tr><td>1925-June</td><td>20,210,906,251</td><td>829,680,044</td><td>4.105</td></tr><tr><td>1926-June</td><td>19,383,770,860</td><td>793,423,952</td><td>4.093</td></tr><tr><td>1927-June</td><td>18,250,943,965</td><td>722,675,553</td><td>3.960</td></tr><tr><td>1928-June</td><td>17,317,695,096</td><td>671,353,112</td><td>3.877</td></tr><tr><td>1929-June</td><td>16,638,941,379</td><td>656,654,311</td><td>3.946</td></tr><tr><td>1930-June</td><td>15,921,892,350</td><td>606,031,831</td><td>3.807</td></tr><tr><td>1931-June</td><td>16,519,588,640</td><td>588,987,438</td><td>3.566</td></tr><tr><td>1932-June</td><td>19,161,273,540</td><td>671,604,676</td><td>3.505</td></tr><tr><td>1933-June</td><td>22,157,643,120</td><td>742,175,955</td><td>3.350</td></tr><tr><td>1934-June</td><td>26,480,487,920</td><td>842,301,133</td><td>3.161</td></tr><tr><td>1935-June</td><td>27,645,229,826</td><td>750,677,802</td><td>2.716</td></tr><tr><td>1936-June</td><td>32,755,631,770</td><td>838,002,053</td><td>2.559</td></tr><tr><td>1937-June</td><td>35,802,586,915</td><td>924,347,089</td><td>2.582</td></tr><tr><td>1938-June</td><td>36,575,925,880</td><td>947,084,058</td><td>2.589</td></tr><tr><td>1938-July</td><td>36,641,937,719</td><td>951,738,835</td><td>2.597</td></tr><tr><td>Aug.</td><td>37,051,561,281</td><td>956,207,791</td><td>2.581</td></tr><tr><td>Sept.</td><td>37,849,982,493</td><td>977,274,331</td><td>2.582</td></tr><tr><td>Oct.</td><td>37,896,865,589</td><td>978,604,732</td><td>2.582</td></tr><tr><td>Nov.</td><td>38,068,027,769</td><td>982,917,804</td><td>2.582</td></tr><tr><td>Dec.</td><td>38,898,851,391</td><td>1,005,833,188</td><td>2.566</td></tr><tr><td>1939-Jan.</td><td>39,097,233,713</td><td>1,011,231,467</td><td>2.586</td></tr><tr><td>Feb.</td><td>39,325,527,811</td><td>1,017,225,042</td><td>2.587</td></tr><tr><td>Mar.</td><td>39,442,074,957</td><td>1,026,757,937</td><td>2.603</td></tr></table>
<table><tr><th>Date</th><th>Long-term Treasury 1/</th><th>Corporate rates 2/</th><th>Corporate-excluding rate 3/</th><th colspan="2">Spread between long-term Treasury and corporate</th></tr><tr><th></th><th></th><th></th><th></th><th>Including rail</th><th>Excluding rail</th></tr><tr><td>Monthly average of daily figures 4/ 1938-Jan.</td><td>2.65</td><td>3.17</td><td>3.08</td><td>.52</td><td>.43</td></tr><tr><td>Feb.</td><td>2.64</td><td>3.15</td><td>3.06</td><td>.51</td><td>.42</td></tr><tr><td>Mar.</td><td>2.64</td><td>3.16</td><td>3.05</td><td>.52</td><td>.41</td></tr><tr><td>Apr.</td><td>2.62</td><td>3.23</td><td>3.08</td><td>.61</td><td>.46</td></tr><tr><td>May.</td><td>2.51</td><td>3.14</td><td>2.99</td><td>.63</td><td>.48</td></tr><tr><td>June.</td><td>2.52</td><td>3.15</td><td>2.99</td><td>.63</td><td>.47</td></tr><tr><td>July.</td><td>2.52</td><td>3.12</td><td>2.98</td><td>.60</td><td>.46</td></tr><tr><td>Aug.</td><td>2.51</td><td>3.10</td><td>2.98</td><td>.59</td><td>.47</td></tr><tr><td>Sept.</td><td>2.58</td><td>3.12</td><td>2.99</td><td>.54</td><td>.41</td></tr><tr><td>Oct.</td><td>2.48</td><td>3.07</td><td>2.94</td><td>.59</td><td>.46</td></tr><tr><td>Nov.</td><td>2.50</td><td>3.06</td><td>2.92</td><td>.56</td><td>.42</td></tr><tr><td>Dec.</td><td>2.49</td><td>3.04</td><td>2.90</td><td>.55</td><td>.41</td></tr><tr><td>1939-Jan.</td><td>2.47</td><td>3.00</td><td>2.86</td><td>.53</td><td>.39</td></tr><tr><td>Feb.</td><td>2.44</td><td>2.98</td><td>2.86</td><td>.50</td><td>.42</td></tr><tr><td>Mar.</td><td>2.34</td><td>2.98</td><td>2.85</td><td>.64</td><td>.51</td></tr><tr><td>Weekly figures as of Saturday closing price 5/</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Mar. 4.</td><td>2.38</td><td>2.97</td><td>2.85</td><td>.59</td><td>.47</td></tr><tr><td>Mar. 11.</td><td>2.33</td><td>2.96</td><td>2.84</td><td>.63</td><td>.51</td></tr><tr><td>Mar. 18.</td><td>2.36</td><td>2.98</td><td>2.86</td><td>.62</td><td>.50</td></tr><tr><td>Mar. 25.</td><td>2.32</td><td>2.98</td><td>2.85</td><td>.66</td><td>.53</td></tr><tr><td>Apr. 1.</td><td>2.32</td><td>3.00</td><td>2.88</td><td>.68</td><td>.56</td></tr><tr><td>Apr. 8.</td><td>2.32</td><td>3.02</td><td>2.88</td><td>.70</td><td>.56</td></tr><tr><td>Apr. 15.</td><td>2.30</td><td>3.01</td><td>2.88</td><td>.71</td><td>.58</td></tr></table>
Note: For monthly figures from June 1916 to June 1929, see report of the Secretary of the Treasury for 1929, page 509; from July 1929 to June 1936, see report of the Secretary of the Treasury for 1936, pages 442 and 443; from July 1936 to June 1937, see report of the Secretary of the Treasury for 1937, page 442. "Interest-Bearing Debt" figures include discount on Treasury Bills, amount being deducted prior to calculating the average interest rate. * On basis of Daily Treasury Statements, unrevised. (See heading).
Note: Monthly figures for 1937 in January bulletin, Page 15. 1/ Average of Treasury bonds due or callable after twelve years. 2/ Average of 20 bonds. 3/ Average of 15 bonds. 4/ January 1938 through April 1938, monthly average of Saturday figures. 5/ Or the most recent sale if there was no sale on Saturday.
Areas Based on Saturday Quotations
JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC.
YIELDS OF TREASURY BONDS AND NOTES APR. 15, 1939
Based on Closing Prices
19
Note: For callable bonds, yields are computed to, and issues plotted as of, the earliest call date if the bond is selling above par, and as of the final maturity date if the bond is selling below par. The smooth curves are fitted by eye. Dollar amounts shown in descriptions of issues are in millions. Issues for which an exchange offer has been made and has expired are excluded.
GOVERNMENTAL CORPORATIONS AND CREDIT AGENCIES
20
CITY OF DOWNTOWN
21
Governmental Corporations and Credit Agencies of the United States: Feb. 28, 1939
(Compiled from latest reports received from these agencies)
(In millions of dollars)
<table><tr><th></th><th>Assets</th><th colspan="2">Liabilities</th><th colspan="2">Proprietary* Interest</th></tr><tr><th></th><th></th><th>Guaranteed by United States</th><th>Not Guaranteed by United States</th><th>Privately owned</th><th>Owned by United States</th></tr><tr><td>Reconstruction Finance Corp.</td><td>1,850.0</td><td>820.3</td><td>89.7</td><td>-</td><td>939.9</td></tr><tr><td>Commodity Credit Corp.</td><td>392.6</td><td>206.7</td><td>75.9</td><td>-</td><td>110.0</td></tr><tr><td>Export-Import Bank of Washington</td><td>48.5</td><td>-</td><td>.7</td><td>-</td><td>47.8</td></tr><tr><td>Federal Crop Insurance Corp.</td><td>7.1</td><td>-</td><td>2.1</td><td>-</td><td>5.0</td></tr><tr><td>Federal Deposit Insurance Corp.</td><td>481.9</td><td>-</td><td>192.6</td><td>139.3</td><td>150.0</td></tr><tr><td>Tennessee Valley Authority</td><td>234.3</td><td>-</td><td>9.0</td><td>-</td><td>225.3</td></tr><tr><td>Public Works Administration</td><td>38.5</td><td>-</td><td>-</td><td>-</td><td>38.5</td></tr><tr><td>United States Maritime Commission</td><td>252.2</td><td>-</td><td>156.3</td><td>-</td><td>95.9</td></tr><tr><td>Rural Electrification Admin.</td><td>100.7</td><td>-</td><td>-</td><td>-</td><td>100.7</td></tr><tr><td>Home Owners' Loan Corp.</td><td>3,060.9</td><td>2,905.7</td><td>106.8</td><td>-</td><td>48.4</td></tr><tr><td>Federal Savings & Loan Insurance Corp.</td><td>117.8</td><td>-</td><td>1.1</td><td>-</td><td>116.7</td></tr><tr><td>Federal Savings & Loan Assoc.</td><td>44.5</td><td>-</td><td>-</td><td>-</td><td>44.5</td></tr><tr><td>Federal Home Loan Banks</td><td>288.1</td><td>-</td><td>116.7</td><td>46.7</td><td>124.7</td></tr><tr><td>Federal Housing Admin.</td><td>40.6</td><td>1.7</td><td>1.2</td><td>-</td><td>37.7</td></tr><tr><td>United States Housing Authority</td><td>260.8</td><td>114.3</td><td>2.4</td><td>-</td><td>144.1</td></tr><tr><td>Farm Credit Administration</td><td>125.8</td><td>-</td><td>5.8</td><td>-</td><td>120.0</td></tr><tr><td>Federal Farm Mortgage Corp.</td><td>1,610.7</td><td>1,392.8</td><td>44.9</td><td>-</td><td>173.0</td></tr><tr><td>Federal Land Banks</td><td>2,341.3</td><td>-</td><td>1,821.3</td><td>194.2</td><td>325.8</td></tr><tr><td>Federal Intermediate Credit Banks</td><td>275.3</td><td>-</td><td>176.2</td><td>-</td><td>99.1</td></tr><tr><td>Benke for Cooperatives</td><td>185.9</td><td>-</td><td>3.6</td><td>3.7</td><td>178.6</td></tr><tr><td>Production Credit Corp.</td><td>122.3</td><td>-</td><td>.2</td><td>-</td><td>122.0</td></tr><tr><td>Regional Agricultural Credit Corp.</td><td>21.8</td><td>-</td><td>3.3</td><td>-</td><td>18.5</td></tr><tr><td>War emergency corps. & agencies (in liquidation):</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Navy Department (sale of surplus war supplies)</td><td>4.7</td><td>-</td><td>-</td><td>-</td><td>4.7</td></tr><tr><td>United States Housing Corp.</td><td>2.0</td><td>-</td><td>-</td><td>-</td><td>2.0</td></tr><tr><td>United States Railroad Admin.</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>United States Spruce Production Corp.</td><td>.7</td><td>-</td><td>-</td><td>-</td><td>.7</td></tr><tr><td>War Finance Corp.</td><td>1/</td><td>-</td><td>1/</td><td>-</td><td>1/</td></tr><tr><td>Other:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Disaster Loan Corp.</td><td>13.0</td><td>-</td><td>1/</td><td>-</td><td>13.0</td></tr><tr><td>Electric Home and Farm Authority</td><td>8.1</td><td>-</td><td>7.2</td><td>-</td><td>.9</td></tr><tr><td>Farm Security Administration</td><td>201.7</td><td>-</td><td>-</td><td>-</td><td>201.7</td></tr><tr><td>Federal National Mortgage Assoc.</td><td>105.5</td><td>-</td><td>87.3</td><td>-</td><td>18.2</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>7.4</td><td>-</td><td>.2</td><td>-</td><td>7.2</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>2.2</td></tr><tr><td>Inland Waterways Corp.</td><td>25.8</td><td>-</td><td>.7</td><td>-</td><td>25.1</td></tr><tr><td>Panama Railroad Co.</td><td>46.3</td><td>-</td><td>.8</td><td>-</td><td>45.5</td></tr><tr><td>Puerto Rico Reconstruction Admin.</td><td>4.6</td><td>-</td><td>-</td><td>-</td><td>4.6</td></tr><tr><td>R F C Mortgage Company</td><td>54.2</td><td>-</td><td>1.5</td><td>-</td><td>52.7</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Treasury Department: Railroad loans(Trans- portation Act, 1920)</td><td>30.2</td><td>-</td><td>-</td><td>-</td><td>30.2</td></tr><tr><td>Securities received from the Reconstruction Finance Corp. under Act of Feb. 24, 1938</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>2.6</td></tr><tr><td>Total</td><td>12,411.2</td><td>5,441.5</td><td>2,907.7</td><td>383.9</td><td>3,678.1</td></tr></table>
Note: Figures in this table are rounded to nearest tenth of million and will not necessarily add to totals. * Excluding inter-agency transactions. 1/ Less than $100,000.
Proprietary Interest of the United States in Governmental Corporations and Lending Agencies: Feb. 28, 1939
(Compiled from latest reports received from these agencies)
(In millions of dollars)
<table><tr><th></th><th>Capital Stock</th><th>Surplus</th><th>Inter-agency Transactions</th><th>Total Proprietary Interest</th></tr><tr><td>Stock:</td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corp.</td><td>500.0</td><td>221.5</td><td>164.2 2/</td><td>557.2</td></tr><tr><td>Commodity Credit Corp.</td><td>100.0</td><td>-</td><td>-</td><td>100.0</td></tr><tr><td>Export-Import Bank of Washington</td><td>46.0</td><td>1.8</td><td>-</td><td>47.8</td></tr><tr><td>Federal Crop Insurance Corp.</td><td>5.0</td><td>-</td><td>-</td><td>5.0</td></tr><tr><td>Federal Deposit Insurance Corp</td><td>150.0</td><td>-</td><td>-</td><td>150.0</td></tr><tr><td>Home Owners' Loan Corp.</td><td>200.0</td><td>51.6 3/</td><td>100.0 2/</td><td>48.4</td></tr><tr><td>Federal Savings and Loan Insurance Corp.</td><td>100.0</td><td>16.7</td><td>-</td><td>116.7</td></tr><tr><td>Federal Savings and Loan Assn.</td><td>44.5</td><td>-</td><td>-</td><td>44.5</td></tr><tr><td>Federal Home Loan Banks</td><td>124.7</td><td>-</td><td>-</td><td>124.7</td></tr><tr><td>U. S. Housing Authority</td><td>1.0</td><td>143.1</td><td>-</td><td>144.1</td></tr><tr><td>Federal Farm Mortgage Corp.</td><td>200.0</td><td>-</td><td>27.0 2/</td><td>173.0</td></tr><tr><td>Federal Land Banks</td><td>124.7</td><td>184.5</td><td>16.7</td><td>325.8</td></tr><tr><td>Federal Intermediate Credit Banks</td><td>70.0</td><td>47.0</td><td>17.9 2/</td><td>99.1</td></tr><tr><td>Banks for Cooperatives</td><td>149.0</td><td>11.8</td><td>17.9</td><td>178.7</td></tr><tr><td>Production Credit Corps</td><td>120.0</td><td>2.0</td><td>-</td><td>122.0</td></tr><tr><td>Regional Agricultural Credit Corp.</td><td>5.0</td><td>13.5</td><td>-</td><td>18.6</td></tr><tr><td>U. S. Housing Corp.</td><td>34.1</td><td>32.1 3/</td><td>-</td><td>2.0</td></tr><tr><td>U. S. Spruce Production Corp.</td><td>.1</td><td>.2</td><td>.4</td><td>.7</td></tr><tr><td>War Finance Corp.</td><td>1/</td><td>1/</td><td>-</td><td>1/</td></tr><tr><td>Disaster Loan Corp.</td><td>14.0</td><td>1.0 3/</td><td>-</td><td>13.0</td></tr><tr><td>Electric Home and Farm Authority</td><td>.9</td><td>.1</td><td>-</td><td>.9</td></tr><tr><td>Federal National Mortgage Assn.</td><td>10.0</td><td>1.9</td><td>6.3</td><td>18.2</td></tr><tr><td>Inland Vatervals Corp.</td><td>12.0</td><td>13.1</td><td>-</td><td>25.1</td></tr><tr><td>Panama Railroad Company</td><td>7.0</td><td>39.2</td><td>.6 2/</td><td>45.5</td></tr><tr><td>R F C Mortgage Company</td><td>25.0</td><td>.6</td><td>27.0</td><td>52.7</td></tr><tr><td>T V A Cooperatives, Inc.</td><td>1/</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>Total</td><td>2,043.0</td><td>612.6</td><td>241.4 2/</td><td>2,414.0</td></tr><tr><td>Non-Stock:</td><td></td><td></td><td></td><td></td></tr><tr><td>Tennessee Valley Authority</td><td></td><td></td><td></td><td>225.0</td></tr><tr><td>Public Works Admn.</td><td></td><td></td><td></td><td>38.5</td></tr><tr><td>U. S. Maritime Commission</td><td></td><td></td><td></td><td>95.9</td></tr><tr><td>Rural Electrification Admn.</td><td></td><td></td><td></td><td>100.7</td></tr><tr><td>Federal Housing Admn.</td><td></td><td></td><td></td><td>37.8</td></tr><tr><td>Farm Credit Admn.</td><td></td><td></td><td></td><td>120.0</td></tr><tr><td>Navy Department (Sales of surplus war supplies)</td><td></td><td></td><td></td><td>4.7</td></tr><tr><td>U. S. Railroad Admn.</td><td></td><td></td><td></td><td>.1</td></tr><tr><td>Farm Security Admn.</td><td></td><td></td><td></td><td>201.7</td></tr><tr><td>Federal Prisons Industries,Inc</td><td></td><td></td><td></td><td>7.2</td></tr><tr><td>Interior Department (Indian loans)</td><td></td><td></td><td></td><td>2.2</td></tr><tr><td>Puerto Rico Reconstruction Admn.</td><td></td><td></td><td></td><td>4.6</td></tr><tr><td>Railroad Loans (Transportation Act, 1920)</td><td></td><td></td><td></td><td>30.2</td></tr><tr><td>Securities received from R F C (Act Feb. 24, 1938)</td><td></td><td></td><td></td><td>2.6</td></tr><tr><td>Total</td><td></td><td></td><td></td><td>871.2</td></tr><tr><td>Special Obligations:</td><td></td><td></td><td></td><td></td></tr><tr><td>Field by Treasury: Reconstruction Finance Corporation</td><td></td><td></td><td></td><td>382.7</td></tr><tr><td>Commodity Credit Corp.</td><td></td><td></td><td></td><td>10.0</td></tr><tr><td>Home Owners' Loan Corp.</td><td></td><td></td><td></td><td>-</td></tr><tr><td>U. S. Housing Authority</td><td></td><td></td><td></td><td>.3</td></tr><tr><td>Tennessee Valley Authority</td><td></td><td></td><td></td><td>.3</td></tr><tr><td>Total</td><td></td><td></td><td></td><td>393.0</td></tr><tr><td>Grand Total</td><td></td><td></td><td></td><td>3,678.1</td></tr></table>
Note: Figures in this table are rounded to nearest tenth of million and will not necessarily add to totals.
1/ Less than $100,000
2/ Excess inter-agency assets (deduct)
3/ Deficit.
22
Statement of Sources of Funds of Certain Corporations and Agencies Maintaining Checking Accounts with the Treasurer of the United States: July 1, 1938 to Feb. 28, 1939
(Compiled from latest reports received by the Treasury)
<table><tr><th></th><th>Appropriations from general fund 1/</th><th>Allocations, rediscouts, and loans from other governmental corporations or agencies</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sales of stock to other agencies</th><th>Sale of other property acquired</th><th>Repayment of loans 2/</th><th>Interest dividends, assessments, and properly income</th><th>Other receipts</th><th>Total sources of funds</th></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>-</td><td>$19,450,000</td><td>$480,969,612*</td><td>$575,758,333</td><td>-</td><td>$224,469</td><td>$239,914,478</td><td>$47,430,812</td><td>$12,976,593</td><td>$414,785,073</td></tr><tr><td>Commodity Credit Corporation......</td><td>-</td><td>-</td><td>10,000,000</td><td>5,000*</td><td>-</td><td>-</td><td>34,702,484</td><td>941,185</td><td>731,773</td><td>46,370,442</td></tr><tr><td>Export-Import Bank of Washington......</td><td>-</td><td>2,450,000</td><td>-</td><td>-</td><td>$25,000,000</td><td>-</td><td>7,162,430</td><td>995,783</td><td>269,451</td><td>35,877,664</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5,101,016</td><td>43,915,845</td><td>73,293</td><td>49,090,154</td></tr><tr><td>Rural Electrification Administration.....</td><td>$29,323,925</td><td>13,173,573</td><td>-</td><td>-</td><td>-</td><td>-</td><td>226,706</td><td>525,208</td><td>6,661</td><td>43,256,073</td></tr><tr><td>Home Owners' Loan Corporation......</td><td>-</td><td>-</td><td>15,000,000*</td><td>-</td><td>-</td><td>15,695,726</td><td>107,033,049</td><td>95,307,164</td><td>284,500</td><td>203,320,439</td></tr><tr><td>Federal Savings and Loan Insurance Corporation......</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,168,311</td><td>119</td><td>3,168,430</td></tr><tr><td>Federal home-loan banks......</td><td>-</td><td>-</td><td>-</td><td>15,198,470</td><td>-</td><td>-</td><td>71,644,837</td><td>4,299,283</td><td>6,542,536</td><td>97,685,126</td></tr><tr><td>United States Housing Authority..</td><td>7,283,334</td><td>-</td><td>-</td><td>114,146,000</td><td>-</td><td>-</td><td>404,591</td><td>2,143,607</td><td>145,968</td><td>124,123,500</td></tr><tr><td>Federal Farm Mortgage Corporation......</td><td>-</td><td>-</td><td>-</td><td>28,850,000*</td><td>-</td><td>-</td><td>45,234,979</td><td>41,472,800</td><td>1,396,672</td><td>59,254,451</td></tr><tr><td>Central Bank for Cooperatives......</td><td>-</td><td>17,750,349</td><td>-</td><td>-</td><td>16,600*</td><td>-</td><td>24,793,759</td><td>790,570</td><td>179,793</td><td>43,497,871</td></tr><tr><td>Disaster Loan Corporation......</td><td>4,000,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>835,785</td><td>100,887</td><td>24,855</td><td>4,961,527</td></tr><tr><td>Electric Home and Farm Authority.....</td><td>-</td><td>-</td><td>-</td><td>908,253</td><td>-</td><td>-</td><td>2,672,879</td><td>432,730</td><td>44,667</td><td>4,058,529</td></tr><tr><td>Total......</td><td>40,607,259</td><td>52,823,922</td><td>485,969,612*</td><td>677,156,056</td><td>24,983,400</td><td>15,920,195</td><td>539,726,993</td><td>241,524,185</td><td>22,676,881</td><td>1,129,449,279</td></tr></table>
* Excess of retirements (deduct).
1/ This is the only item in this statement which constitutes a charge against the Federal Budget. Includes items chargeable to general fund under section 1 of Public No. 432, approved Feb. 24, 1938.
2/ Receipts from sale of property acquired in liquidation of loans are shown under "Sale of other property acquired."
3/ Includes Federal National Mortgage Association and B P C Mortgage Co.
Statement of Uses of Funds of Certain Corporations and Agencies Maintaining Checking Accounts with the Treasurer of the United States: July 1, 1938 to Feb. 28, 1939
(Compiled from latest reports received by the Treasury - Expenditures on basis of checks issued)
<table><tr><th rowspan="2"></th><th colspan="2">Expenses</th><th rowspan="2">Purchase and improvement of property owned</th><th rowspan="2">Loans</th><th rowspan="2">Retirement of obligations issued in exchange for mortgages 1/</th><th rowspan="2">Investments (net)</th><th rowspan="2">Allocations, rediscouts, and loans to other governmental corporations or agencies</th><th rowspan="2">Interest and dividends paid</th><th rowspan="2">Other expenditures</th><th rowspan="2">Total uses of funds</th></tr><tr><th>Administrative</th><th>Nonadministrative</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$6,720,730</td><td>$2,128,566</td><td>-</td><td>$294,119,776</td><td>-</td><td>$25,000,000</td><td>$43,143,000</td><td>$15,729,032</td><td>$295,438</td><td>$387,136,542</td></tr><tr><td>Commodity Credit Corporation.</td><td>628,104</td><td>-</td><td>-</td><td>165,951,599</td><td>-</td><td>-</td><td>-</td><td>1,888,549</td><td>183,953</td><td>168,652,205</td></tr><tr><td>Export-Import Bank of Washington.</td><td>36,111</td><td>46</td><td>-</td><td>17,743,324</td><td>-</td><td>-</td><td>17,450,000</td><td>-</td><td>14,653</td><td>35,244,134</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>2,079,593</td><td>-</td><td>$905,122</td><td>6,976,213</td><td>-</td><td>30,000,000</td><td>-</td><td>20,375,635</td><td>119,159</td><td>60,456,022</td></tr><tr><td>Rural Electrification Administration.</td><td>1,419,881</td><td>-</td><td>-</td><td>39,336,233</td><td>-</td><td>-</td><td>-</td><td>-</td><td>71,503</td><td>40,827,617</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>16,909,436</td><td>22,006,093</td><td>22,189,679</td><td>20,028,954</td><td>$49,694,575</td><td>2,128,450</td><td>-</td><td>57,965,214</td><td>8,226,710</td><td>199,149,111</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>139,172</td><td>4,274</td><td>-</td><td>-</td><td>-</td><td>2,809,925</td><td>-</td><td>29,331</td><td>-</td><td>2,982,702</td></tr><tr><td>Federal home-loan banks.</td><td>862,441</td><td>-</td><td>-</td><td>46,034,242</td><td>-</td><td>16,920,202</td><td>-</td><td>3,132,214</td><td>63,791</td><td>67,012,890</td></tr><tr><td>United States Housing Authority.</td><td>1,721,962</td><td>1,773,392</td><td>4,715,342</td><td>24,745,517</td><td>-</td><td>950,000</td><td>-</td><td>45,263</td><td>6,650</td><td>33,958,126</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>5,343,245</td><td>694,107</td><td>1,677,857</td><td>16,886,679</td><td>-</td><td>16,425,000*</td><td>-</td><td>26,033,000</td><td>3,474,171</td><td>37,684,059</td></tr><tr><td>Central Bank for Cooperatives.</td><td>82,820</td><td>-</td><td>-</td><td>25,093,154</td><td>-</td><td>1,289,500*</td><td>16,761,580</td><td>169,252</td><td>308,538</td><td>41,125,844</td></tr><tr><td>Disaster Loan Corporation.</td><td>390,088</td><td>2,953</td><td>-</td><td>3,857,160</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,250,201</td></tr><tr><td>Electric Home and Farm Authority.</td><td>236,441</td><td>98,588</td><td>-</td><td>3,711,868</td><td>-</td><td>-</td><td>-</td><td>42,506</td><td>21,154</td><td>4,110,557</td></tr><tr><td>Total</td><td>36,570,024</td><td>26,708,019</td><td>29,488,000</td><td>664,484,719</td><td>49,694,575</td><td>60,094,077</td><td>77,354,580</td><td>125,409,996</td><td>12,786,020</td><td>1,082,590,010</td></tr></table>
2 Excess of sales over purchases (deduct). 
1/ Receipts received in payment of mortgages appear under "Repayment of loans" in statement of sources of funds. 
2/ Includes Federal National Mortgage Association and F P C Mortgage Co.
23
Statement of Sources of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to Feb. 28, 1939
(Compiled from latest raparts received by the Treasury)
<table><tr><th></th><th>Appropriations from general fund 1/</th><th>Allocations, rediscouts, and loans from other governmental corporations or agencies</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th><th>Sale of other property acquired</th><th>Repayment of loans 2/</th><th>Interests, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Reconstruction Finance Corporation 3/...</td><td>$500,000,000</td><td>$42,563,102</td><td>382,722,554</td><td>$904,379,000</td><td>-</td><td>$2,400,101</td><td>$4,516,921,081</td><td>$480,864,613</td><td>$49,346,961</td><td>$6,879,197,412</td></tr><tr><td>Commodity Credit Corporation......</td><td>194,285,405</td><td>-</td><td>10,000,000</td><td>206,174,000</td><td>-</td><td>-</td><td>518,047,660</td><td>8,565,571</td><td>1,130,137</td><td>938,202,773</td></tr><tr><td>Export-Import Bank of Washington....</td><td>1,000,000</td><td>2,792,500</td><td>-</td><td>-</td><td>$45,000,000</td><td>-</td><td>28,964,316</td><td>3,087,572</td><td>566,167</td><td>81,410,555</td></tr><tr><td>Federal Deposit Insurance Corporation......</td><td>150,000,000</td><td>-</td><td>-</td><td>-</td><td>139,299,557</td><td>-</td><td>12,454,175</td><td>185,390,261</td><td>1,984,962</td><td>489,128,955</td></tr><tr><td>Rural Electrification Administration....</td><td>58,258,330</td><td>50,330,553</td><td>-</td><td>-</td><td>-</td><td>-</td><td>278,150</td><td>699,570</td><td>7,832</td><td>109,574,435</td></tr><tr><td>Home Owners' Loan Corporation......</td><td>200,000,000</td><td>-</td><td>-</td><td>3,114,453,550</td><td>-</td><td>28,114,362</td><td>539,553,289</td><td>595,019,184</td><td>4,029,677</td><td>4,481,170,062</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100,000,000</td><td>-</td><td>-</td><td>19,848,299</td><td>31,048</td><td>119,879,347</td></tr><tr><td>United States Housing Authority</td><td>29,422,691</td><td>-</td><td>-</td><td>114,146,000</td><td>-</td><td>-</td><td>696,671</td><td>4,392,642</td><td>147,769</td><td>148,805,773</td></tr><tr><td>Disaster Loan Corporation......</td><td>14,000,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,868,527</td><td>198,554</td><td>49,096</td><td>16,116,177</td></tr><tr><td>Central Bank for Cooperatives.....</td><td>50,000,000</td><td>62,029,178</td><td>-</td><td>-</td><td>481,700</td><td>-</td><td>152,831,519</td><td>7,806,773</td><td>2,300,031</td><td>275,449,201</td></tr><tr><td>Total.........</td><td>1,196,966,426</td><td>157,715,333</td><td>392,722,554</td><td>4,339,152,550</td><td>284,781,257</td><td>30,514,463</td><td>5,771,615,388</td><td>1,305,873,039</td><td>59,593,680</td><td>13,538,934,690</td></tr></table>
1/ This is the only item in this statement which constitutes a charge against the Federal Budget. Includes items chargeable to general fund under section 1 of Public No. 432, approved Feb. 24, 1938.
2/ Receipts from sale of property acquired in liquidation of loans are shown as "Sale of Other Property Acquired."
3/ Includes Federal National Mortgage Association and RFC Mortgage Company.
4/ Retirement of these obligations shown as "Retirement of Obligations Issued in Exchange for Mortgages" in statement of uses of funds.
Statement of Uses of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to Feb. 28, 1939
(Compiled from latest reports received by the Treasury - Expenditures on basis of checks issued.)
<table><tr><th rowspan="2"></th><th colspan="2">Expenses</th><th rowspan="2">Purchase and improvement of property owned</th><th rowspan="2">Loans</th><th rowspan="2">Retirement of obligations issued in exchange for mortgages 1/</th><th rowspan="2">Investments (net) 3/</th><th rowspan="2">Allocations, rediscouts, and loans from other governmental corporations or agencies</th><th rowspan="2">Interest and dividends paid</th><th rowspan="2">Other expenditures</th><th rowspan="2">Total, uses of funds</th></tr><tr><th>Administrative</th><th>Nonadministrative</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$64,723,984</td><td>$5,431,081</td><td>-</td><td>$6,462,312,749</td><td>-</td><td>$45,000,000</td><td>$80,642,500</td><td>$219,857,143</td><td>$471,531</td><td>$6,878,438,988</td></tr><tr><td>Commodity Credit Corporation.....</td><td>2,682,349</td><td>-</td><td>-</td><td>904,817,595</td><td>-</td><td>-</td><td>-</td><td>16,876,965</td><td>244,921</td><td>924,421,830</td></tr><tr><td>Export-Import Bank of Washington....</td><td>281,906</td><td>182</td><td>-</td><td>54,486,901</td><td>-</td><td>-</td><td>22,792,500</td><td>1,206,164</td><td>146,864</td><td>78,914,517</td></tr><tr><td>Federal Deposit Insurance Corporation.....</td><td>15,497,016</td><td>-</td><td>$1,947,046</td><td>40,119,277</td><td>-</td><td>382,403,291</td><td>-</td><td>39,661,263</td><td>442,044</td><td>480,069,937</td></tr><tr><td>Rural Electrification Administration....</td><td>4,774,526</td><td>-</td><td>-</td><td>99,377,044</td><td>-</td><td>-</td><td>2,425</td><td>547,712</td><td>87,155</td><td>104,789,462</td></tr><tr><td>Home Owners' Loan Corporation......</td><td>166,246,667</td><td>45,818,109</td><td>89,483,911</td><td>3,153,658,630</td><td>$226,154,275</td><td>314,955,210</td><td>-</td><td>340,596,110</td><td>11,068,765</td><td>4,347,981,677</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>701,855</td><td>4,827</td><td>-</td><td>-</td><td>-</td><td>115,689,686</td><td>-</td><td>3,169,491</td><td>9,716</td><td>119,575,575</td></tr><tr><td>United States Housing Authority</td><td>3,135,290</td><td>2,630,916</td><td>25,524,117</td><td>28,133,467</td><td>-</td><td>950,000</td><td>-</td><td>58,996</td><td>7,900</td><td>60,440,686</td></tr><tr><td>Disaster Loan Corporation.....</td><td>1,255,208</td><td>32,897</td><td>-</td><td>10,730,879</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,993</td><td>12,020,977</td></tr><tr><td>Central Bank for Cooperatives.....</td><td>569,453</td><td>-</td><td>-</td><td>174,492,084</td><td>-</td><td>39,785,000</td><td>50,303,543</td><td>390,384</td><td>2,734,007</td><td>268,274,471</td></tr><tr><td>Total.........</td><td>259,868,254</td><td>53,918,012</td><td>116,955,074</td><td>10,928,128,626</td><td>226,154,275</td><td>898,783,187</td><td>153,740,968</td><td>622,164,228</td><td>15,215,496</td><td>13,274,928,120</td></tr></table>
1/ Receipts received in payment of mortgages appear under "Repayment of Loans" in statement of sources of funds.
2/ Includes Federal National Mortgage Association and RFC Mortgage Company.
3/ Includes U. S. Government Bonds in the amount of $281,946,079, as follows:- Federal Deposite Insurance Corp., $240,901,579; Home Owners' Loan Corp., $1,100,000 included in the Bond Redemption Sinking Fund maintained with the Treasurer U. S.; Federal Savings and Loan Insurance Corp. $11,109,500; U. S. Housing Authority $950,000 and Bank for Cooperatives $27,885,000.
24
Principal of Outstanding Obligations Guaranteed by the United States
(In millions of dollars - compiled from reports received by the Treasury)
<table><tr><th>End of month</th><th>Total</th><th>Commodity Credit Corporation notes</th><th>Federal Farm Mortgage Corporation bonds</th><th>Federal Housing Administration debentures</th><th>Home Owners' Loan Corporation bonds</th><th>Reconstruction Finance Corporation notes</th><th>United States Housing Authority</th></tr><tr><td>1934-June</td><td>680.7</td><td>-</td><td>311.6</td><td>-</td><td>134.3</td><td>234.8</td><td>-</td></tr><tr><td>1935-June</td><td>4,122.7</td><td>-</td><td>1,225.6</td><td>-</td><td>2,647.3</td><td>249.8</td><td>-</td></tr><tr><td>1936-June</td><td>4,718.0</td><td>-</td><td>1,422.2</td><td>-</td><td>3,044.2</td><td>251.6</td><td>-</td></tr><tr><td>1937-June</td><td>4,664.6</td><td>-</td><td>1,422.2</td><td>.1</td><td>2,987.1</td><td>255.2</td><td>-</td></tr><tr><td>1938-June</td><td>4,852.7</td><td>206.2</td><td>1,409.8</td><td>.6</td><td>2,937.2</td><td>293.9</td><td>-</td></tr><tr><td>1938-Jan.</td><td>4,645.7</td><td>-</td><td>1,409.9</td><td>.3</td><td>2,937.2</td><td>293.3</td><td>-</td></tr><tr><td>Feb.</td><td>4,645.9</td><td>-</td><td>1,409.9</td><td>.3</td><td>2,937.2</td><td>293.5</td><td>-</td></tr><tr><td>Mar.</td><td>4,646.2</td><td>-</td><td>1,409.9</td><td>.4</td><td>2,937.2</td><td>293.7</td><td>-</td></tr><tr><td>Apr.</td><td>4,646.8</td><td>-</td><td>1,409.9</td><td>.5</td><td>2,937.2</td><td>299.2</td><td>-</td></tr><tr><td>May.</td><td>4,852.3</td><td>206.2</td><td>1,409.8</td><td>.5</td><td>2,937.2</td><td>293.6</td><td>-</td></tr><tr><td>June.</td><td>4,852.7</td><td>206.2</td><td>1,409.8</td><td>.6</td><td>2,937.2</td><td>293.9</td><td>-</td></tr><tr><td>July.</td><td>5,064.2</td><td>206.2</td><td>1,409.8</td><td>.6</td><td>2,937.2</td><td>510.4</td><td>-</td></tr><tr><td>Aug.</td><td>5,015.0</td><td>206.2</td><td>1,409.8</td><td>.9</td><td>2,887.6</td><td>510.5</td><td>-</td></tr><tr><td>Sept.</td><td>5,009.4</td><td>206.2</td><td>1,404.2</td><td>.9</td><td>2,887.6</td><td>510.5</td><td>-</td></tr><tr><td>Oct.</td><td>5,000.5</td><td>206.2</td><td>1,395.1</td><td>1.1</td><td>2,887.6</td><td>510.5</td><td>-</td></tr><tr><td>Nov.</td><td>4,993.3</td><td>206.2</td><td>1,387.8</td><td>1.2</td><td>2,887.6</td><td>510.5</td><td>-</td></tr><tr><td>Dec.</td><td>4,991.9</td><td>206.2</td><td>1,387.8</td><td>1.3</td><td>2,887.6</td><td>509.0</td><td>-</td></tr><tr><td>1939-Jan.</td><td>4,987.0</td><td>206.2</td><td>1,382.7</td><td>1.4</td><td>2,887.6</td><td>509.1</td><td>-</td></tr><tr><td>Feb.</td><td>5,409.9</td><td>206.2</td><td>1,380.9</td><td>1.7</td><td>2,887.9*</td><td>819.1</td><td>114.1</td></tr></table>
Preliminary
CAPITAL MOVEMENTS BETWEEN
THE UNITED STATES AND FOREIGN COUNTRIES
25
Box 1 (Attach 2-111)
26
Net Capital Movement between the United States and Foreign Countries 1935 through January 1939
(In thousands of dollars. Capital inflow or capital outflow (-))
<table><tr><th>Classification and period by reporting dates</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Netherlands</th><th>Switzerland</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>MOVEMENT IN SHORT-TERM BANKING FUNDS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 2, 1935-Jan. 1, 1936</td><td>337,385</td><td>177,610</td><td>28,829</td><td>21,011</td><td>55,362</td><td>73,990</td><td>69,476</td><td>763,663</td><td>41,394</td><td>53,554</td><td>96,140</td><td>9,878</td><td>964,629</td></tr><tr><td>Jan. 1, 1936-Dec. 30, 1936</td><td>4,166</td><td>28,599</td><td>39,892</td><td>18,254</td><td>7,229</td><td>38,550</td><td>32,192</td><td>168,882</td><td>82,251</td><td>120,672</td><td>24,609</td><td>928</td><td>397,342</td></tr><tr><td>Dec. 30, 1936-Dec. 29, 1937</td><td>55,151</td><td>-29,162</td><td>46,003</td><td>-25,896</td><td>9,283</td><td>178,423</td><td>34,625</td><td>268,427</td><td>-69,087</td><td>43,678</td><td>24,083</td><td>-11,507</td><td>255,594</td></tr><tr><td>Dec. 29, 1937-Dec. 28, 1938</td><td>174,438</td><td>47,232</td><td>15,796</td><td>4,356</td><td>5,661</td><td>-84,633</td><td>99,761</td><td>262,611</td><td>111,904</td><td>-18,005</td><td>-77,082</td><td>17,787</td><td>293,215</td></tr><tr><td>Dec. 28, 1938-Feb. 1, 1939</td><td>-12,608</td><td>3,364</td><td>-858</td><td>-6,917</td><td>18,181</td><td>17,438</td><td>16,989</td><td>35,589</td><td>1,902</td><td>2,604</td><td>18,331</td><td>5,481</td><td>63,907</td></tr><tr><td>Total</td><td>558,532</td><td>227,643</td><td>129,662</td><td>10,308</td><td>95,716</td><td>223,768</td><td>253,043</td><td>1,499,172</td><td>168,364</td><td>202,503</td><td>86,081</td><td>18,567</td><td>1,974,687</td></tr><tr><td>Week ended</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939-Jan. 4</td><td>-1,000</td><td>-577</td><td>-601</td><td>-2,380</td><td>4,746</td><td>1,374</td><td>6,369</td><td>7,931</td><td>-28,121</td><td>-6,255</td><td>11,634</td><td>1,972</td><td>-12,839</td></tr><tr><td>Jan. 11</td><td>-24,778</td><td>9,487</td><td>-790</td><td>-2,067</td><td>-2,958</td><td>-6,007</td><td>7,192</td><td>-19,921</td><td>5,706</td><td>4,042</td><td>-10,678</td><td>3,703</td><td>-17,168</td></tr><tr><td>Jan. 18</td><td>4,399</td><td>2,024</td><td>1,509</td><td>29</td><td>3,015</td><td>-8,898</td><td>6,165</td><td>8,243</td><td>11,807</td><td>-468</td><td>14,608</td><td>-550</td><td>33,680</td></tr><tr><td>Jan. 25</td><td>-9,080</td><td>2,634</td><td>-964</td><td>-818</td><td>1,990</td><td>23,907</td><td>2,242</td><td>19,911</td><td>-5,971</td><td>1,323</td><td>-7,261</td><td>-129</td><td>7,873</td></tr><tr><td>Feb. 1</td><td>17,851</td><td>-10,204</td><td>-12</td><td>-1,681</td><td>11,388</td><td>7,062</td><td>-4,979</td><td>19,425</td><td>18,481</td><td>3,962</td><td>10,028</td><td>485</td><td>52,381</td></tr><tr><td>Total January</td><td>-12,608</td><td>3,364</td><td>-858</td><td>-6,917</td><td>18,181</td><td>17,438</td><td>16,989</td><td>35,589</td><td>1,902</td><td>2,604</td><td>18,331</td><td>5,481</td><td>63,907</td></tr><tr><td>MOVEMENT IN BROKERAGE BALANCES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 2, 1935-Jan. 1, 1936</td><td>13</td><td>2,418</td><td>-152</td><td>123</td><td>1,265</td><td>2,455</td><td>1,431</td><td>7,553</td><td>-4,479</td><td>968</td><td>2,878</td><td>-851</td><td>6,039</td></tr><tr><td>Jan. 1, 1936-Dec. 30, 1936</td><td>4,016</td><td>7,977</td><td>-510</td><td>131</td><td>-2,195</td><td>6,656</td><td>-1,070</td><td>15,005</td><td>-3,086</td><td>-5,182</td><td>-788</td><td>862</td><td>6,811</td></tr><tr><td>Dec. 30, 1936-Dec. 29, 1937</td><td>7,494</td><td>1,123</td><td>669</td><td>-109</td><td>5,883</td><td>1,734</td><td>4,656</td><td>21,450</td><td>11,092</td><td>3,700</td><td>-1,569</td><td>14</td><td>34,687</td></tr><tr><td>Dec. 29, 1937-Dec. 28, 1938</td><td>1,722</td><td>1,060</td><td>-191</td><td>58</td><td>1,828</td><td>-2,014</td><td>277</td><td>2,740</td><td>-940</td><td>-434</td><td>-1,552</td><td>220</td><td>34</td></tr><tr><td>Dec. 28, 1938-Feb. 1, 1939</td><td>3,975</td><td>4,113</td><td>16</td><td>54</td><td>1,271</td><td>2,207</td><td>1,014</td><td>12,650</td><td>-77</td><td>217</td><td>1,422</td><td>148</td><td>14,360</td></tr><tr><td>Total</td><td>17,220</td><td>16,691</td><td>-168</td><td>257</td><td>8,052</td><td>11,038</td><td>6,308</td><td>59,398</td><td>2,510</td><td>-731</td><td>391</td><td>363</td><td>61,931</td></tr><tr><td>Week ended</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939-Jan. 4</td><td>163</td><td>299</td><td>-21</td><td>44</td><td>44</td><td>739</td><td>-84</td><td>1,184</td><td>-789</td><td>36</td><td>-506</td><td>110</td><td>35</td></tr><tr><td>Jan. 11</td><td>1,000</td><td>1,146</td><td>30</td><td>3</td><td>76</td><td>456</td><td>-147</td><td>2,604</td><td>-1,532</td><td>11</td><td>652</td><td>40</td><td>1,775</td></tr><tr><td>Jan. 18</td><td>463</td><td>-161</td><td>-18</td><td>5</td><td>480</td><td>746</td><td>445</td><td>1,960</td><td>1,126</td><td>16</td><td>3</td><td>-11</td><td>3,094</td></tr><tr><td>Jan. 25</td><td>795</td><td>1,383</td><td>14</td><td>-6</td><td>452</td><td>-89</td><td>831</td><td>3,380</td><td>661</td><td>155</td><td>285</td><td>235</td><td>4,716</td></tr><tr><td>Feb. 1</td><td>1,554</td><td>1,446</td><td>11</td><td>8</td><td>219</td><td>315</td><td>-31</td><td>3,522</td><td>457</td><td>-1</td><td>988</td><td>-226</td><td>4,740</td></tr><tr><td>Total January</td><td>3,975</td><td>4,113</td><td>16</td><td>54</td><td>1,271</td><td>2,207</td><td>1,014</td><td>12,650</td><td>-77</td><td>217</td><td>1,422</td><td>148</td><td>14,360</td></tr><tr><td>MOVEMENT IN TRANSACTIONS IN DOMESTIC SECURITIES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 2, 1935-Jan. 1, 1936</td><td>149,780</td><td>23,394</td><td>-5,353</td><td>-95</td><td>50,458</td><td>55,125</td><td>12,928</td><td>286,237</td><td>2,807</td><td>3,685</td><td>21,371</td><td>2,560</td><td>316,660</td></tr><tr><td>Jan. 1, 1936-Dec. 30, 1936</td><td>217,915</td><td>41,352</td><td>-2,102</td><td>-3,235</td><td>107,149</td><td>145,036</td><td>25,604</td><td>531,719</td><td>29,840</td><td>11,841</td><td>22,763</td><td>4,530</td><td>600,693</td></tr><tr><td>Dec. 30, 1936-Dec. 29, 1937</td><td>81,024</td><td>5,580</td><td>-9,955</td><td>-1,530</td><td>56,235</td><td>75,100</td><td>17,215</td><td>223,659</td><td>4,997</td><td>2,705</td><td>10,543</td><td>2,722</td><td>244,626</td></tr><tr><td>Dec. 29, 1937-Dec. 28, 1938</td><td>23,859</td><td>6,168</td><td>-5,262</td><td>-568</td><td>-900</td><td>26,487</td><td>856</td><td>50,650</td><td>-9,845</td><td>5,204</td><td>1,696</td><td>1,190</td><td>48,895</td></tr><tr><td>Dec. 28, 1938-Feb. 1, 1939</td><td>-21,634</td><td>-3,588</td><td>-282</td><td>-27</td><td>-2,381</td><td>-730</td><td>-1,698</td><td>-30,340</td><td>-4,291</td><td>-57</td><td>4,969</td><td>238</td><td>-29,481</td></tr><tr><td>Total</td><td>450,954</td><td>72,906</td><td>-22,964</td><td>-5,455</td><td>210,561</td><td>301,018</td><td>54,905</td><td>1,061,925</td><td>23,508</td><td>23,378</td><td>61,342</td><td>11,240</td><td>1,181,393</td></tr><tr><td>Week ended</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939-Jan. 4</td><td>-9</td><td>429</td><td>-70</td><td>-39</td><td>-809</td><td>2,329</td><td>32</td><td>1,853</td><td>-2,129</td><td>254</td><td>493</td><td>88</td><td>569</td></tr><tr><td>Jan. 11</td><td>434</td><td>-1,338</td><td>-31</td><td>-54</td><td>1,417</td><td>169</td><td>188</td><td>785</td><td>87</td><td>307</td><td>641</td><td>41</td><td>1,861</td></tr><tr><td>Jan. 18</td><td>-3,044</td><td>-1,006</td><td>-82</td><td>23</td><td>-706</td><td>-2,587</td><td>-665</td><td>-8,067</td><td>-1,244</td><td>-242</td><td>891</td><td>155</td><td>-8,507</td></tr><tr><td>Jan. 25</td><td>-10,463</td><td>-763</td><td>-46</td><td>1</td><td>-2,066</td><td>523</td><td>-1,214</td><td>-14,028</td><td>-1,793</td><td>-229</td><td>-1,35</td><td>-211</td><td>-16,396</td></tr><tr><td>Feb. 1</td><td>-8,552</td><td>-910</td><td>-53</td><td>42</td><td>-217</td><td>-1,164</td><td>-39</td><td>-10,893</td><td>788</td><td>-147</td><td>3,079</td><td>165</td><td>-7,008</td></tr><tr><td>Total January</td><td>-21,634</td><td>-3,588</td><td>-282</td><td>-27</td><td>-2,381</td><td>-730</td><td>-1,698</td><td>-30,340</td><td>-4,291</td><td>-57</td><td>4,969</td><td>238</td><td>-29,481</td></tr><tr><td>MOVEMENT IN TRANSACTIONS IN FOREIGN SECURITIES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 2, 1935-Jan. 1, 1936</td><td>67,757</td><td>6,818</td><td>13,275</td><td>2,949</td><td>7,408</td><td>-1,191</td><td>46,129</td><td>143,145</td><td>-39,715</td><td>12,700</td><td>7,914</td><td>1,114</td><td>125,158</td></tr><tr><td>Jan. 1, 1936-Dec. 30, 1936</td><td>48,304</td><td>11,368</td><td>9,247</td><td>6,469</td><td>3,008</td><td>14,924</td><td>41,788</td><td>135,108</td><td>11,452</td><td>2,973</td><td>9,133</td><td>2,410</td><td>191,076</td></tr><tr><td>Dec. 30, 1936-Dec. 29, 1937</td><td>20,713</td><td>4,623</td><td>4,059</td><td>4,057</td><td>10,815</td><td>16,657</td><td>27,267</td><td>88,191</td><td>8,785</td><td>159,284</td><td>7,484</td><td>3,264</td><td>267,008</td></tr><tr><td>Dec. 29, 1937-Dec. 28, 1938</td><td>-7,694</td><td>3,352</td><td>6,482</td><td>7,027</td><td>6,106</td><td>6,694</td><td>50,687</td><td>72,654</td><td>-49,392</td><td>-8,644</td><td>9,271</td><td>2,869</td><td>26,758</td></tr><tr><td>Dec. 28, 1938-Feb. 1, 1939</td><td>-2,844</td><td>-143</td><td>981</td><td>2,013</td><td>317</td><td>78</td><td>4,533</td><td>4,935</td><td>16,578</td><td>2,535</td><td>600</td><td>-84</td><td>24,564</td></tr><tr><td>Total</td><td>126,236</td><td>26,018</td><td>34,044</td><td>22,515</td><td>27,654</td><td>37,162</td><td>170,404</td><td>444,033</td><td>-22,292</td><td>168,848</td><td>34,402</td><td>9,573</td><td>634,564</td></tr><tr><td>Week ended</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939-Jan. 4</td><td>-1,367</td><td>-67</td><td>451</td><td>1,530</td><td>9</td><td>-953</td><td>1,898</td><td>1,501</td><td>29,177</td><td>1,083</td><td>5</td><td>-7</td><td>31,759</td></tr><tr><td>Jan. 11</td><td>173</td><td>-84</td><td>67</td><td>233</td><td>209</td><td>509</td><td>268</td><td>1,375</td><td>1,568</td><td>240</td><td>130</td><td>43</td><td>3,356</td></tr><tr><td>Jan. 18</td><td>9</td><td>19</td><td>151</td><td>112</td><td>3</td><td>214</td><td>603</td><td>1,111</td><td>-5,015</td><td>474</td><td>136</td><td>-43</td><td>-3,337</td></tr><tr><td>Jan. 25</td><td>-1,687</td><td>-</td><td>112</td><td>89</td><td>5</td><td>251</td><td>332</td><td>-898</td><td>3,299</td><td>212</td><td>235</td><td>52</td><td>2,900</td></tr><tr><td>Feb. 1</td><td>28</td><td>-11</td><td>200</td><td>49</td><td>91</td><td>57</td><td>1,432</td><td>1,846</td><td>-12,451</td><td>526</td><td>94</td><td>-129</td><td>-10,114</td></tr><tr><td>Total January</td><td>-2,844</td><td>-143</td><td>981</td><td>2,013</td><td>317</td><td>78</td><td>4,533</td><td>4,935</td><td>16,578</td><td>2,535</td><td>600</td><td>-84</td><td>24,564</td></tr><tr><td>NET CAPITAL MOVEMENT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 2, 1935-Jan. 1, 1936</td><td>554,935</td><td>210,240</td><td>36,599</td><td>23,988</td><td>114,493</td><td>130,379</td><td>129,964</td><td>1,200,598</td><td>7</td><td>70,907</td><td>128,303</td><td>12,671</td><td>1,412,486</td></tr><tr><td>Jan. 1, 1936-Dec. 30, 1936</td><td>274,401</td><td>89,296</td><td>46,527</td><td>21,619</td><td>115,191</td><td>205,156</td><td>98,514</td><td>850,714</td><td>150,457</td><td>130,304</td><td>55,717</td><td>8,730</td><td>1,195,922</td></tr><tr><td>Dec. 30, 1936-Dec. 29, 1937</td><td>164,382</td><td>-17,836</td><td>40,766</td><td>-23,478</td><td>82,216</td><td>271,914</td><td>83,763</td><td>601,727</td><td>44,213</td><td>209,367</td><td>40,541</td><td>-5,507</td><td>801,915</td></tr><tr
CUMULATIVE NET CAPITAL MOVEMENT BETWEEN U.S. AND FOREIGN COUNTRIES
Cumulative Weekly Since January 2, 1935
32
28
Short-Term Foreign Liabilities as Reported by Banks and Bankers in the United States for January 1939
(In thousands of dollars)
<table><tr><th>Classification and date</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL SHORT-TERM FOREIGN LIABILITIES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>436,113</td><td>187,365</td><td>17,826</td><td>20,433</td><td>101,830</td><td>218,799</td><td>255,483</td><td>1,237,849</td><td>201,751</td><td>248,540</td><td>236,821</td><td>34,123</td><td>1,959,084</td></tr><tr><td>Jan. 11.</td><td>412,508</td><td>197,084</td><td>17,242</td><td>19,556</td><td>99,336</td><td>212,463</td><td>251,034</td><td>1,219,223</td><td>205,483</td><td>251,665</td><td>244,224</td><td>37,111</td><td>1,957,706</td></tr><tr><td>Jan. 18.</td><td>420,072</td><td>197,619</td><td>17,814</td><td>19,313</td><td>101,815</td><td>202,911</td><td>267,890</td><td>1,227,434</td><td>215,295</td><td>250,451</td><td>252,295</td><td>36,860</td><td>1,982,335</td></tr><tr><td>Jan. 25.</td><td>419,191</td><td>199,947</td><td>16,760</td><td>18,413</td><td>103,439</td><td>226,774</td><td>269,070</td><td>1,253,594</td><td>205,324</td><td>250,049</td><td>247,222</td><td>36,447</td><td>1,992,636</td></tr><tr><td>Feb. 1.</td><td>430,150</td><td>194,958</td><td>15,845</td><td>17,883</td><td>114,454</td><td>233,858</td><td>268,267</td><td>1,275,415</td><td>225,622</td><td>254,483</td><td>256,789</td><td>37,085</td><td>2,049,394</td></tr><tr><td>TOTAL LIABILITIES PAYABLE IN DOLLARS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>353,817</td><td>183,576</td><td>17,387</td><td>20,018</td><td>100,534</td><td>218,572</td><td>253,897</td><td>1,147,801</td><td>200,420</td><td>248,150</td><td>227,307</td><td>33,390</td><td>1,857,078</td></tr><tr><td>Jan. 11.</td><td>334,511</td><td>193,467</td><td>16,909</td><td>19,121</td><td>98,268</td><td>212,207</td><td>259,542</td><td>1,134,025</td><td>204,490</td><td>251,278</td><td>235,216</td><td>36,669</td><td>1,861,678</td></tr><tr><td>Jan. 18.</td><td>345,405</td><td>193,809</td><td>17,487</td><td>18,802</td><td>100,854</td><td>202,615</td><td>266,545</td><td>1,145,517</td><td>213,752</td><td>250,079</td><td>243,505</td><td>36,428</td><td>1,889,281</td></tr><tr><td>Jan. 25.</td><td>344,614</td><td>196,138</td><td>16,514</td><td>17,905</td><td>102,451</td><td>226,489</td><td>266,756</td><td>1,170,867</td><td>203,874</td><td>249,519</td><td>238,574</td><td>36,008</td><td>1,898,942</td></tr><tr><td>Feb. 1.</td><td>355,384</td><td>191,470</td><td>15,560</td><td>17,401</td><td>113,473</td><td>233,548</td><td>267,154</td><td>1,193,990</td><td>223,065</td><td>254,047</td><td>246,244</td><td>36,720</td><td>1,954,066</td></tr><tr><td>Deposits for foreign account:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>341,798</td><td>177,634</td><td>17,139</td><td>19,092</td><td>95,198</td><td>199,333</td><td>238,483</td><td>1,088,677</td><td>193,981</td><td>228,506</td><td>195,934</td><td>31,739</td><td>1,738,837</td></tr><tr><td>Jan. 11.</td><td>318,094</td><td>186,464</td><td>16,724</td><td>18,227</td><td>92,954</td><td>191,180</td><td>244,715</td><td>1,068,358</td><td>197,641</td><td>230,586</td><td>204,429</td><td>35,239</td><td>1,736,253</td></tr><tr><td>Jan. 18.</td><td>325,152</td><td>187,089</td><td>16,853</td><td>17,789</td><td>95,601</td><td>182,655</td><td>250,985</td><td>1,076,124</td><td>205,187</td><td>230,877</td><td>210,273</td><td>34,641</td><td>1,757,102</td></tr><tr><td>Jan. 25.</td><td>327,621</td><td>189,889</td><td>16,166</td><td>16,829</td><td>96,253</td><td>205,791</td><td>250,655</td><td>1,103,204</td><td>199,951</td><td>231,691</td><td>206,278</td><td>34,503</td><td>1,775,627</td></tr><tr><td>Feb. 1.</td><td>341,216</td><td>185,414</td><td>15,312</td><td>16,346</td><td>108,163</td><td>211,568</td><td>251,111</td><td>1,129,130</td><td>216,772</td><td>236,504</td><td>217,183</td><td>35,398</td><td>1,834,987</td></tr><tr><td>Bille held for foreign account:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>8,332</td><td>2,028</td><td>144</td><td>839</td><td>4,680</td><td>17,121</td><td>13,137</td><td>46,281</td><td>6,317</td><td>19,394</td><td>30,318</td><td>1,546</td><td>103,856</td></tr><tr><td>Jan. 11.</td><td>8,276</td><td>2,078</td><td>118</td><td>769</td><td>4,655</td><td>18,479</td><td>12,740</td><td>47,115</td><td>6,351</td><td>20,414</td><td>29,714</td><td>1,329</td><td>104,923</td></tr><tr><td>Jan. 18.</td><td>8,610</td><td>2,119</td><td>305</td><td>887</td><td>4,596</td><td>18,335</td><td>13,630</td><td>48,482</td><td>6,501</td><td>18,911</td><td>32,198</td><td>1,687</td><td>107,779</td></tr><tr><td>Jan. 25.</td><td>8,122</td><td>2,151</td><td>275</td><td>923</td><td>5,533</td><td>19,097</td><td>14,144</td><td>50,245</td><td>3,546</td><td>17,644</td><td>31,194</td><td>1,405</td><td>104,034</td></tr><tr><td>Feb. 1.</td><td>8,042</td><td>2,162</td><td>159</td><td>915</td><td>4,749</td><td>20,349</td><td>13,570</td><td>49,945</td><td>5,820</td><td>17,234</td><td>27,982</td><td>1,234</td><td>102,216</td></tr><tr><td>Short-term United States Government obligations held for foreign account:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>12</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>21</td><td>-</td><td>15</td><td>-</td><td>-</td><td>36</td></tr><tr><td>Jan. 11.</td><td>7</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>16</td><td>-</td><td>15</td><td>-</td><td>-</td><td>31</td></tr><tr><td>Jan. 18.</td><td>7</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>16</td><td>-</td><td>15</td><td>-</td><td>-</td><td>31</td></tr><tr><td>Jan. 25.</td><td>60</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>69</td><td>-</td><td>15</td><td>-</td><td>-</td><td>84</td></tr><tr><td>Feb. 1.</td><td>7</td><td>8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>16</td><td>-</td><td>15</td><td>-</td><td>-</td><td>31</td></tr><tr><td>Other liabilities payable in dollars:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>3,675</td><td>3,906</td><td>104</td><td>87</td><td>656</td><td>2,118</td><td>2,276</td><td>12,822</td><td>122</td><td>245</td><td>1,055</td><td>105</td><td>14,349</td></tr><tr><td>Jan. 11.</td><td>8,134</td><td>4,917</td><td>67</td><td>125</td><td>659</td><td>2,548</td><td>2,086</td><td>18,536</td><td>498</td><td>263</td><td>1,073</td><td>101</td><td>20,471</td></tr><tr><td>Jan. 18.</td><td>11,636</td><td>4,593</td><td>329</td><td>126</td><td>657</td><td>1,625</td><td>1,923</td><td>20,895</td><td>2,064</td><td>276</td><td>1,074</td><td>100</td><td>24,369</td></tr><tr><td>Jan. 25.</td><td>8,811</td><td>4,090</td><td>73</td><td>153</td><td>665</td><td>1,601</td><td>1,956</td><td>17,349</td><td>377</td><td>269</td><td>1,102</td><td>100</td><td>13,197</td></tr><tr><td>Feb. 1.</td><td>6,119</td><td>3,886</td><td>89</td><td>140</td><td>561</td><td>1,631</td><td>2,472</td><td>14,898</td><td>473</td><td>294</td><td>1,079</td><td>88</td><td>16,832</td></tr><tr><td>TOTAL LIABILITIES PAYABLE IN FOREIGN CURRENCIES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>82,296</td><td>3,789</td><td>439</td><td>415</td><td>1,296</td><td>227</td><td>1,585</td><td>90,048</td><td>1,331</td><td>380</td><td>9,514</td><td>733</td><td>102,006</td></tr><tr><td>Jan. 11.</td><td>77,997</td><td>3,617</td><td>333</td><td>435</td><td>1,068</td><td>256</td><td>1,492</td><td>85,198</td><td>993</td><td>387</td><td>9,008</td><td>442</td><td>96,028</td></tr><tr><td>Jan. 18.</td><td>74,667</td><td>3,810</td><td>327</td><td>511</td><td>961</td><td>236</td><td>1,345</td><td>81,917</td><td>1,543</td><td>372</td><td>8,790</td><td>432</td><td>93,054</td></tr><tr><td>Jan. 25.</td><td>74,577</td><td>3,809</td><td>246</td><td>508</td><td>988</td><td>285</td><td>2,314</td><td>82,727</td><td>1,450</td><td>430</td><td>8,648</td><td>439</td><td>93,694</td></tr><tr><td>Feb. 1.</td><td>74,766</td><td>3,488</td><td>285</td><td>482</td><td>981</td><td>310</td><td>1,113</td><td>81,425</td><td>2,557</td><td>436</td><td>10,545</td><td>365</td><td>95,328</td></tr><tr><td>Borrowings from foreign banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>49,374</td><td>303</td><td>434</td><td>236</td><td>328</td><td>73</td><td>1,128</td><td>51,876</td><td>841</td><td>297</td><td>8,826</td><td>432</td><td>62,272</td></tr><tr><td>Jan. 11.</td><td>43,167</td><td>218</td><td>330</td><td>249</td><td>142</td><td>82</td><td>1,021</td><td>45,209</td><td>485</td><td>300</td><td>8,416</td><td>102</td><td>54,512</td></tr><tr><td>Jan. 18.</td><td>40,039</td><td>440</td><td>324</td><td>321</td><td>33</td><td>85</td><td>866</td><td>42,108</td><td>1,015</td><td>295</td><td>8,096</td><td>83</td><td>51,597</td></tr><tr><td>Jan. 25.</td><td>40,515</td><td>414</td><td>241</td><td>305</td><td>141</td><td>106</td><td>1,858</td><td>43,590</td><td>969</td><td>333</td><td>7,949</td><td>103</td><td>52,944</td></tr><tr><td>Feb. 1.</td><td>39,468</td><td>245</td><td>277</td><td>347</td><td>62</td><td>154</td><td>698</td><td>41,251</td><td>2,093</td><td>336</td><td>9,924</td><td>75</td><td>53,679</td></tr><tr><td>Acceptances made by foreign banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>27,440</td><td>3,276</td><td>-</td><td>30</td><td>794</td><td>31</td><td>33</td><td>31,604</td><td>370</td><td>-</td><td>60</td><td>20</td><td>32,054</td></tr><tr><td>Jan. 11.</td><td>29,317</td><td>3,192</td><td>-</td><td>31</td><td>743</td><td>49</td><td>34</td><td>33,366</td><td>400</td><td>-</td><td>30</td><td>20</td><td>33,816</td></tr><tr><td>Jan. 18.</td><td>29,095</td><td>3,167</td><td>-</td><td>31</td><td>762</td><td>59</td><td>38</td><td>33,152</td><td>395</td><td>-</td><td>31</td><td>20</td><td>33,528</td></tr><tr><td>Jan. 25.</td><td>28,377</td><td>3,153</td><td>-</td><td>31</td><td>672</td><td>49</td><td>25</td><td>32,307</td><td>400</td><td>-</td><td>22</td><td>20</td><td>32,749</td></tr><tr><td>Feb. 1.</td><td>29,654</td><td>3,033</td><td>-</td><td>29</td><td>742</td><td>44</td><td>22</td><td>33,524</td><td>381</td><td>-</td><td>10</td><td>19</td><td>33,934</td></tr><tr><td>Other liabilities payable in foreign currencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>5,482</td><td>210</td><td>5</td><td>149</td><td>174</td><td>123</td><td>425</td><td>6,568</td><td>120</td><td>83</td><td>628</td><td>281</td><td>7,680</td></tr><tr><td>Jan. 11.</td><td>5,513</td><td>207</td><td>3</td><td>155</td><td>183</td><td>125</td><td>437</td><td>6,623</td><td>108</td><td>87</td><td>562</td><td>320</td><td>7,700</td></tr><tr><td>Jan. 18.</td><td>5,533</td><td>203</td><td>3</td><td>159</td><td>166</td><td>152</td><td>441</td><td>6,657</td><td>133</td><td>77</td><td>663</td><td>329</td><td>7,859</td></tr><tr><td>Jan. 25.</td><td>5,685</td><td>242</td><td>5</td><td>172</td><td>175</td><td>130</td><td>421</td><td>6,830</td><td>81</td><td>97</td><td>677</td><td>316</td><td>8,001</td></tr><tr><td>Feb. 1.</td><td>5,644</td><td>210</td><td>8</td><td>106</td><td>177</td><td>112</td><td>393</td><td>6,650</td><td>83</td><td>100</td><td>611</td><td>271</td><td>7,715</td></tr></table>
29
Short-Term Foreign Assets as Reported by Banks and Bankers in the United States for January 1939
(In thousands of dollars)
<table><tr><th>Classification and date</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL SHORT-TERM FOREIGN ASSETS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>85,976</td><td>10,299</td><td>89,449</td><td>13,523</td><td>24,221</td><td>5,500</td><td>45,936</td><td>274,904</td><td>60,376</td><td>99,134</td><td>144,127</td><td>15,492</td><td>594,033</td></tr><tr><td>Jan. 11.</td><td>87,149</td><td>10,531</td><td>89,655</td><td>14,713</td><td>24,685</td><td>5,171</td><td>44,295</td><td>276,199</td><td>58,402</td><td>98,217</td><td>162,208</td><td>14,777</td><td>609,803</td></tr><tr><td>Jan. 18.</td><td>90,314</td><td>9,042</td><td>88,718</td><td>14,441</td><td>24,149</td><td>4,517</td><td>44,986</td><td>276,167</td><td>56,407</td><td>97,471</td><td>155,671</td><td>15,076</td><td>600,792</td></tr><tr><td>Jan. 25.</td><td>98,513</td><td>8,736</td><td>88,628</td><td>14,359</td><td>23,783</td><td>4,473</td><td>43,924</td><td>282,416</td><td>52,407</td><td>95,746</td><td>157,859</td><td>14,792</td><td>603,220</td></tr><tr><td>Feb. 1.</td><td>91,621</td><td>13,951</td><td>87,725</td><td>15,510</td><td>23,410</td><td>4,495</td><td>48,100</td><td>284,812</td><td>54,224</td><td>96,218</td><td>157,398</td><td>14,945</td><td>607,597</td></tr><tr><td>TOTAL ASSETS PAYABLE IN FOREIGN CURRENCIES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>41,669</td><td>1,437</td><td>803</td><td>2,311</td><td>5,164</td><td>2,841</td><td>4,833</td><td>59,058</td><td>18,077</td><td>6,569</td><td>54,947</td><td>977</td><td>139,628</td></tr><tr><td>Jan. 11.</td><td>45,233</td><td>1,220</td><td>711</td><td>2,289</td><td>5,753</td><td>2,188</td><td>4,526</td><td>61,920</td><td>18,136</td><td>6,469</td><td>54,352</td><td>1,044</td><td>141,921</td></tr><tr><td>Jan. 18.</td><td>48,912</td><td>880</td><td>678</td><td>2,302</td><td>5,889</td><td>1,953</td><td>4,479</td><td>65,093</td><td>17,895</td><td>6,764</td><td>54,609</td><td>1,051</td><td>145,412</td></tr><tr><td>Jan. 25.</td><td>54,234</td><td>1,054</td><td>606</td><td>2,238</td><td>6,015</td><td>1,698</td><td>4,035</td><td>69,880</td><td>16,690</td><td>6,895</td><td>54,839</td><td>1,029</td><td>149,333</td></tr><tr><td>Feb. 1.</td><td>47,709</td><td>1,126</td><td>518</td><td>2,195</td><td>5,860</td><td>2,061</td><td>5,410</td><td>64,879</td><td>16,482</td><td>6,605</td><td>55,496</td><td>997</td><td>144,459</td></tr><tr><td>Banks own deposits abroad:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>21,230</td><td>1,046</td><td>557</td><td>160</td><td>3,335</td><td>2,112</td><td>2,232</td><td>30,672</td><td>14,008</td><td>1,279</td><td>1,038</td><td>106</td><td>47,103</td></tr><tr><td>Jan. 11.</td><td>24,801</td><td>792</td><td>487</td><td>160</td><td>3,674</td><td>1,897</td><td>2,069</td><td>33,880</td><td>14,091</td><td>1,274</td><td>1,320</td><td>122</td><td>50,687</td></tr><tr><td>Jan. 18.</td><td>27,157</td><td>457</td><td>481</td><td>167</td><td>3,877</td><td>1,792</td><td>1,890</td><td>35,821</td><td>13,471</td><td>1,284</td><td>1,025</td><td>110</td><td>51,711</td></tr><tr><td>Jan. 25.</td><td>31,342</td><td>629</td><td>431</td><td>149</td><td>4,586</td><td>1,533</td><td>1,564</td><td>40,234</td><td>12,314</td><td>1,263</td><td>1,152</td><td>142</td><td>55,105</td></tr><tr><td>Feb. 1.</td><td>24,306</td><td>715</td><td>351</td><td>147</td><td>4,371</td><td>1,843</td><td>2,970</td><td>34,703</td><td>12,451</td><td>1,257</td><td>1,196</td><td>135</td><td>49,742</td></tr><tr><td>Deposits abroad for account of domestic cliente:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>4,397</td><td>172</td><td>133</td><td>2,014</td><td>244</td><td>632</td><td>1,076</td><td>8,668</td><td>1,447</td><td>168</td><td>49,401</td><td>72</td><td>59,756</td></tr><tr><td>Jan. 11.</td><td>4,081</td><td>204</td><td>113</td><td>1,985</td><td>280</td><td>177</td><td>936</td><td>7,776</td><td>1,415</td><td>197</td><td>49,241</td><td>117</td><td>58,706</td></tr><tr><td>Jan. 18.</td><td>4,151</td><td>210</td><td>85</td><td>1,989</td><td>228</td><td>45</td><td>1,025</td><td>7,733</td><td>1,383</td><td>220</td><td>49,259</td><td>134</td><td>58,729</td></tr><tr><td>Jan. 25.</td><td>4,220</td><td>204</td><td>85</td><td>1,941</td><td>208</td><td>45</td><td>884</td><td>7,587</td><td>1,375</td><td>224</td><td>49,280</td><td>99</td><td>58,565</td></tr><tr><td>Feb. 1.</td><td>4,666</td><td>199</td><td>78</td><td>1,895</td><td>193</td><td>78</td><td>869</td><td>7,978</td><td>1,390</td><td>198</td><td>49,340</td><td>93</td><td>58,999</td></tr><tr><td>Other assets payable in foreign currencies:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>16,042</td><td>219</td><td>113</td><td>137</td><td>1,585</td><td>97</td><td>1,525</td><td>19,718</td><td>2,622</td><td>5,122</td><td>4,508</td><td>799</td><td>32,769</td></tr><tr><td>Jan. 11.</td><td>16,351</td><td>224</td><td>111</td><td>144</td><td>1,799</td><td>114</td><td>1,521</td><td>20,264</td><td>2,630</td><td>4,998</td><td>3,791</td><td>805</td><td>32,488</td></tr><tr><td>Jan. 18.</td><td>17,604</td><td>213</td><td>112</td><td>146</td><td>1,784</td><td>116</td><td>1,564</td><td>21,539</td><td>3,041</td><td>5,260</td><td>4,325</td><td>807</td><td>34,972</td></tr><tr><td>Jan. 25.</td><td>18,672</td><td>221</td><td>90</td><td>148</td><td>1,221</td><td>120</td><td>1,587</td><td>22,059</td><td>3,001</td><td>5,408</td><td>4,407</td><td>788</td><td>35,663</td></tr><tr><td>Feb. 1.</td><td>18,737</td><td>212</td><td>89</td><td>153</td><td>1,296</td><td>140</td><td>1,571</td><td>22,198</td><td>2,641</td><td>5,150</td><td>4,960</td><td>769</td><td>35,718</td></tr><tr><td>TOTAL ASSETS PAYABLE IN DOLLARS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>44,307</td><td>8,862</td><td>88,646</td><td>11,212</td><td>19,057</td><td>2,659</td><td>41,103</td><td>215,846</td><td>42,299</td><td>92,565</td><td>89,180</td><td>14,515</td><td>454,405</td></tr><tr><td>Jan. 11.</td><td>41,916</td><td>9,311</td><td>88,944</td><td>12,424</td><td>18,932</td><td>2,983</td><td>39,769</td><td>214,279</td><td>40,266</td><td>91,748</td><td>107,856</td><td>13,733</td><td>467,882</td></tr><tr><td>Jan. 18.</td><td>41,402</td><td>8,162</td><td>88,040</td><td>12,139</td><td>18,260</td><td>2,564</td><td>40,507</td><td>211,074</td><td>38,512</td><td>90,707</td><td>101,062</td><td>14,025</td><td>455,380</td></tr><tr><td>Jan. 25.</td><td>44,279</td><td>7,682</td><td>88,022</td><td>12,121</td><td>17,768</td><td>2,775</td><td>39,889</td><td>212,536</td><td>35,717</td><td>88,851</td><td>103,020</td><td>13,763</td><td>453,887</td></tr><tr><td>Feb. 1.</td><td>43,912</td><td>12,825</td><td>87,207</td><td>13,315</td><td>17,550</td><td>2,434</td><td>42,690</td><td>219,933</td><td>37,742</td><td>89,613</td><td>101,902</td><td>13,948</td><td>463,138</td></tr><tr><td>Loans to foreign banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>32,655</td><td>2,931</td><td>7,897</td><td>1,290</td><td>12,673</td><td>321</td><td>7,083</td><td>64,850</td><td>7,958</td><td>11,977</td><td>59,303</td><td>1,349</td><td>145,437</td></tr><tr><td>Jan. 11.</td><td>30,295</td><td>3,304</td><td>7,866</td><td>2,174</td><td>11,408</td><td>550</td><td>6,807</td><td>62,404</td><td>6,691</td><td>11,497</td><td>78,580</td><td>1,064</td><td>160,236</td></tr><tr><td>Jan. 18.</td><td>30,502</td><td>2,105</td><td>7,899</td><td>2,166</td><td>12,019</td><td>295</td><td>6,822</td><td>61,808</td><td>5,599</td><td>11,073</td><td>71,288</td><td>1,025</td><td>150,793</td></tr><tr><td>Jan. 25.</td><td>32,198</td><td>1,783</td><td>7,713</td><td>2,479</td><td>11,900</td><td>514</td><td>6,616</td><td>63,203</td><td>5,115</td><td>9,835</td><td>76,681</td><td>812</td><td>155,646</td></tr><tr><td>Feb. 1.</td><td>32,878</td><td>7,055</td><td>7,807</td><td>3,722</td><td>11,987</td><td>301</td><td>9,505</td><td>73,255</td><td>7,520</td><td>11,379</td><td>72,588</td><td>904</td><td>165,846</td></tr><tr><td>Acceptance made for foreign banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>2,785</td><td>2,427</td><td>58,808</td><td>8,013</td><td>4,215</td><td>1,614</td><td>9,781</td><td>87,643</td><td>6,183</td><td>14,288</td><td>3,172</td><td>4,252</td><td>115,538</td></tr><tr><td>Jan. 11.</td><td>2,794</td><td>2,442</td><td>58,788</td><td>8,488</td><td>4,121</td><td>1,613</td><td>9,788</td><td>88,034</td><td>5,816</td><td>14,039</td><td>2,723</td><td>3,697</td><td>114,309</td></tr><tr><td>Jan. 18.</td><td>2,659</td><td>2,455</td><td>58,517</td><td>8,216</td><td>4,022</td><td>1,645</td><td>9,414</td><td>86,928</td><td>5,899</td><td>13,826</td><td>2,438</td><td>3,893</td><td>112,580</td></tr><tr><td>Jan. 25.</td><td>3,150</td><td>2,378</td><td>58,602</td><td>7,875</td><td>3,758</td><td>1,697</td><td>9,420</td><td>86,880</td><td>5,482</td><td>13,545</td><td>2,124</td><td>4,067</td><td>112,098</td></tr><tr><td>Feb. 1.</td><td>2,758</td><td>2,291</td><td>58,051</td><td>7,861</td><td>3,445</td><td>1,588</td><td>9,482</td><td>85,476</td><td>4,998</td><td>13,571</td><td>2,525</td><td>4,117</td><td>110,687</td></tr><tr><td>Other assets payable in dollars:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>8,867</td><td>3,504</td><td>21,941</td><td>1,909</td><td>2,169</td><td>724</td><td>24,239</td><td>63,353</td><td>28,158</td><td>66,300</td><td>26,705</td><td>8,914</td><td>193,430</td></tr><tr><td>Jan. 11.</td><td>8,827</td><td>3,565</td><td>22,290</td><td>1,762</td><td>3,403</td><td>820</td><td>23,174</td><td>63,841</td><td>27,759</td><td>66,212</td><td>26,553</td><td>8,972</td><td>193,337</td></tr><tr><td>Jan. 18.</td><td>8,241</td><td>3,602</td><td>21,624</td><td>1,757</td><td>2,219</td><td>624</td><td>24,271</td><td>62,338</td><td>27,014</td><td>65,808</td><td>27,336</td><td>9,107</td><td>191,603</td></tr><tr><td>Jan. 25.</td><td>8,931</td><td>3,521</td><td>21,707</td><td>1,767</td><td>2,110</td><td>564</td><td>23,853</td><td>62,453</td><td>25,120</td><td>65,471</td><td>24,215</td><td>8,884</td><td>186,143</td></tr><tr><td>Feb. 1.</td><td>8,276</td><td>3,479</td><td>21,349</td><td>1,732</td><td>2,118</td><td>545</td><td>23,703</td><td>61,202</td><td>25,224</td><td>64,663</td><td>26,789</td><td>8,927</td><td>186,805</td></tr></table>
30
Security Transactions as Reported by Banks, Bankers, Brokers and Dealers in the United States, for January 1939
(In thousands of dollars)
<table><tr><th>Classification and week ended</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lande</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Per East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL PURCHASES IN THE UNITED STATES FOR FOREIGN ACCOUNT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>6,398</td><td>2,284</td><td>107</td><td>1,576</td><td>3,720</td><td>5,340</td><td>3,123</td><td>22,548</td><td>41,232</td><td>2,026</td><td>1,582</td><td>243</td><td>67,631</td></tr><tr><td>Jan. 11</td><td>7,777</td><td>2,095</td><td>47</td><td>273</td><td>3,430</td><td>4,381</td><td>1,801</td><td>19,804</td><td>7,226</td><td>1,273</td><td>2,774</td><td>248</td><td>31,325</td></tr><tr><td>Jan. 18</td><td>5,483</td><td>2,059</td><td>57</td><td>166</td><td>2,268</td><td>2,591</td><td>1,412</td><td>14,036</td><td>4,769</td><td>1,411</td><td>2,131</td><td>383</td><td>22,730</td></tr><tr><td>Jan. 25</td><td>6,364</td><td>2,758</td><td>60</td><td>103</td><td>2,319</td><td>4,689</td><td>1,315</td><td>17,608</td><td>11,144</td><td>908</td><td>2,436</td><td>182</td><td>32,278</td></tr><tr><td>Feb. 1</td><td>6,010</td><td>3,407</td><td>17</td><td>66</td><td>3,471</td><td>3,968</td><td>3,160</td><td>20,099</td><td>11,104</td><td>1,424</td><td>5,567</td><td>447</td><td>38,641</td></tr><tr><td>Purchases of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>5,647</td><td>2,196</td><td>21</td><td>10</td><td>3,381</td><td>4,834</td><td>1,042</td><td>17,132</td><td>2,782</td><td>847</td><td>1,442</td><td>157</td><td>22,359</td></tr><tr><td>Jan. 11</td><td>6,631</td><td>1,977</td><td>34</td><td>6</td><td>3,133</td><td>3,603</td><td>1,326</td><td>16,710</td><td>3,452</td><td>895</td><td>2,586</td><td>199</td><td>23,842</td></tr><tr><td>Jan. 18</td><td>4,553</td><td>1,694</td><td>23</td><td>39</td><td>1,962</td><td>1,998</td><td>700</td><td>10,969</td><td>2,571</td><td>684</td><td>1,880</td><td>264</td><td>16,368</td></tr><tr><td>Jan. 25</td><td>4,753</td><td>2,507</td><td>31</td><td>12</td><td>2,077</td><td>3,999</td><td>838</td><td>14,217</td><td>2,553</td><td>584</td><td>2,185</td><td>121</td><td>19,660</td></tr><tr><td>Feb. 1</td><td>4,920</td><td>3,161</td><td>4</td><td>17</td><td>3,108</td><td>3,136</td><td>1,529</td><td>15,875</td><td>5,373</td><td>700</td><td>5,442</td><td>351</td><td>27,741</td></tr><tr><td>Purchases of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>751</td><td>88</td><td>86</td><td>1,566</td><td>339</td><td>506</td><td>2,081</td><td>5,417</td><td>38,450</td><td>1,179</td><td>140</td><td>86</td><td>45,272</td></tr><tr><td>Jan. 11</td><td>1,146</td><td>118</td><td>13</td><td>267</td><td>297</td><td>778</td><td>475</td><td>3,094</td><td>3,774</td><td>378</td><td>188</td><td>49</td><td>7,483</td></tr><tr><td>Jan. 18</td><td>930</td><td>365</td><td>34</td><td>127</td><td>306</td><td>593</td><td>712</td><td>3,067</td><td>2,198</td><td>727</td><td>251</td><td>119</td><td>6,362</td></tr><tr><td>Jan. 25</td><td>1,611</td><td>251</td><td>29</td><td>91</td><td>242</td><td>690</td><td>477</td><td>3,391</td><td>8,591</td><td>324</td><td>251</td><td>61</td><td>12,618</td></tr><tr><td>Feb. 1</td><td>1,090</td><td>246</td><td>13</td><td>49</td><td>363</td><td>832</td><td>1,631</td><td>4,224</td><td>5,731</td><td>724</td><td>125</td><td>96</td><td>10,900</td></tr><tr><td>TOTAL SALES IN THE UNITED STATES FOR FOREIGN ACCOUNT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>8,310</td><td>1,944</td><td>100</td><td>85</td><td>5,089</td><td>4,075</td><td>1,195</td><td>20,799</td><td>13,221</td><td>689</td><td>1,018</td><td>162</td><td>35,889</td></tr><tr><td>Jan. 11</td><td>8,946</td><td>3,512</td><td>88</td><td>94</td><td>2,002</td><td>3,840</td><td>1,264</td><td>19,786</td><td>4,018</td><td>721</td><td>1,978</td><td>161</td><td>26,624</td></tr><tr><td>Jan. 18</td><td>9,248</td><td>3,011</td><td>108</td><td>31</td><td>2,951</td><td>5,100</td><td>1,865</td><td>21,914</td><td>4,991</td><td>1,179</td><td>1,077</td><td>293</td><td>29,454</td></tr><tr><td>Jan. 25</td><td>11,253</td><td>3,485</td><td>92</td><td>13</td><td>3,617</td><td>3,856</td><td>2,202</td><td>24,518</td><td>8,871</td><td>916</td><td>2,336</td><td>351</td><td>36,992</td></tr><tr><td>Feb. 1</td><td>10,294</td><td>4,312</td><td>67</td><td>16</td><td>5,228</td><td>5,057</td><td>1,811</td><td>24,785</td><td>22,555</td><td>1,048</td><td>2,392</td><td>360</td><td>51,140</td></tr><tr><td>Sales of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>6,623</td><td>1,767</td><td>88</td><td>49</td><td>4,771</td><td>2,618</td><td>1,010</td><td>16,926</td><td>4,955</td><td>593</td><td>949</td><td>69</td><td>23,492</td></tr><tr><td>Jan. 11</td><td>8,470</td><td>3,315</td><td>65</td><td>60</td><td>1,926</td><td>3,522</td><td>1,065</td><td>18,423</td><td>3,383</td><td>588</td><td>1,945</td><td>158</td><td>24,497</td></tr><tr><td>Jan. 18</td><td>7,969</td><td>2,700</td><td>105</td><td>16</td><td>2,664</td><td>4,704</td><td>1,344</td><td>19,502</td><td>3,783</td><td>926</td><td>989</td><td>109</td><td>25,309</td></tr><tr><td>Jan. 25</td><td>9,055</td><td>3,270</td><td>77</td><td>11</td><td>3,412</td><td>3,421</td><td>2,052</td><td>21,298</td><td>4,416</td><td>813</td><td>2,320</td><td>332</td><td>29,179</td></tr><tr><td>Feb. 1</td><td>8,774</td><td>4,071</td><td>57</td><td>16</td><td>3,019</td><td>4,304</td><td>1,568</td><td>21,809</td><td>4,574</td><td>847</td><td>2,363</td><td>186</td><td>29,779</td></tr><tr><td>Sale of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>1,687</td><td>177</td><td>12</td><td>36</td><td>318</td><td>1,457</td><td>186</td><td>3,873</td><td>8,266</td><td>96</td><td>69</td><td>93</td><td>12,397</td></tr><tr><td>Jan. 11</td><td>476</td><td>197</td><td>23</td><td>34</td><td>76</td><td>318</td><td>199</td><td>1,323</td><td>635</td><td>133</td><td>33</td><td>3</td><td>2,127</td></tr><tr><td>Jan. 18</td><td>1,279</td><td>311</td><td>3</td><td>15</td><td>287</td><td>396</td><td>121</td><td>2,412</td><td>1,208</td><td>253</td><td>88</td><td>184</td><td>4,145</td></tr><tr><td>Jan. 25</td><td>2,198</td><td>215</td><td>15</td><td>2</td><td>205</td><td>435</td><td>150</td><td>3,220</td><td>4,455</td><td>103</td><td>16</td><td>19</td><td>7,813</td></tr><tr><td>Feb. 1</td><td>1,520</td><td>241</td><td>10</td><td>-</td><td>209</td><td>753</td><td>243</td><td>2,976</td><td>17,981</td><td>201</td><td>23</td><td>174</td><td>21,361</td></tr><tr><td>TOTAL PURCHASES EXECUTED ABROAD FOR DOMESTIC ACCOUNT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>304</td><td>11</td><td>3</td><td>-</td><td>18</td><td>2</td><td>-</td><td>338</td><td>1,909</td><td>-</td><td>66</td><td>-</td><td>2,313</td></tr><tr><td>Jan. 11</td><td>488</td><td>28</td><td>-</td><td>-</td><td>16</td><td>3</td><td>73</td><td>608</td><td>2,326</td><td>5</td><td>30</td><td>3</td><td>2,972</td></tr><tr><td>Jan. 18</td><td>492</td><td>135</td><td>-</td><td>-</td><td>52</td><td>8</td><td>21</td><td>709</td><td>7,838</td><td>1</td><td>27</td><td>1</td><td>8,576</td></tr><tr><td>Jan. 25</td><td>771</td><td>72</td><td>-</td><td>-</td><td>26</td><td>5</td><td>-</td><td>874</td><td>2,039</td><td>-</td><td>-</td><td>8</td><td>2,921</td></tr><tr><td>Feb. 1</td><td>541</td><td>90</td><td>-</td><td>-</td><td>70</td><td>4</td><td>-</td><td>705</td><td>1,454</td><td>-</td><td>2</td><td>54</td><td>2,215</td></tr><tr><td>Purchases of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>114</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>117</td><td>31</td><td>-</td><td>-</td><td>-</td><td>148</td></tr><tr><td>Jan. 11</td><td>260</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>73</td><td>336</td><td>-</td><td>-</td><td>-</td><td>-</td><td>336</td></tr><tr><td>Jan. 18</td><td>274</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td><td>21</td><td>301</td><td>26</td><td>-</td><td>-</td><td>-</td><td>327</td></tr><tr><td>Jan. 25</td><td>393</td><td>-</td><td>-</td><td>-</td><td>6</td><td>-</td><td>-</td><td>399</td><td>-</td><td>-</td><td>-</td><td>-</td><td>399</td></tr><tr><td>Feb. 1</td><td>309</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>310</td><td>-</td><td>-</td><td>-</td><td>-</td><td>310</td></tr><tr><td>Purchases of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>190</td><td>11</td><td>-</td><td>-</td><td>18</td><td>2</td><td>-</td><td>221</td><td>1,878</td><td>-</td><td>66</td><td>-</td><td>2,165</td></tr><tr><td>Jan. 11</td><td>228</td><td>28</td><td>-</td><td>-</td><td>13</td><td>3</td><td>-</td><td>272</td><td>2,326</td><td>5</td><td>30</td><td>3</td><td>2,636</td></tr><tr><td>Jan. 18</td><td>218</td><td>136</td><td>-</td><td>-</td><td>46</td><td>8</td><td>-</td><td>408</td><td>7,812</td><td>1</td><td>27</td><td>1</td><td>8,249</td></tr><tr><td>Jan. 25</td><td>378</td><td>72</td><td>-</td><td>-</td><td>20</td><td>5</td><td>-</td><td>475</td><td>2,039</td><td>-</td><td>-</td><td>8</td><td>2,522</td></tr><tr><td>Feb. 1</td><td>232</td><td>90</td><td>-</td><td>-</td><td>69</td><td>4</td><td>-</td><td>395</td><td>1,454</td><td>-</td><td>2</td><td>54</td><td>1,905</td></tr><tr><td>TOTAL SALES EXECUTED ABROAD FOR DOMESTIC ACCOUNT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>296</td><td>37</td><td>377</td><td>-</td><td>31</td><td>-</td><td>3</td><td>744</td><td>897</td><td>-</td><td>-</td><td>-</td><td>1,641</td></tr><tr><td>Jan. 11</td><td>462</td><td>27</td><td>77</td><td>-</td><td>3</td><td>17</td><td>-</td><td>586</td><td>1,084</td><td>-</td><td>5</td><td>-</td><td>1,675</td></tr><tr><td>Jan. 18</td><td>689</td><td>99</td><td>120</td><td>-</td><td>121</td><td>9</td><td>1</td><td>1,039</td><td>1,075</td><td>1</td><td>-</td><td>23</td><td>2,138</td></tr><tr><td>Jan. 25</td><td>574</td><td>38</td><td>98</td><td>-</td><td>46</td><td>1</td><td>9</td><td>766</td><td>1,635</td><td>-</td><td>-</td><td>18</td><td>2,419</td></tr><tr><td>Feb. 1</td><td>921</td><td>74</td><td>197</td><td>41</td><td>9</td><td>-</td><td>43</td><td>1,285</td><td>1,167</td><td>-</td><td>-</td><td>3</td><td>2,455</td></tr><tr><td>Sales of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>141</td><td>-</td><td>-</td><td>-</td><td>24</td><td>-</td><td>-</td><td>165</td><td>75</td><td>-</td><td>-</td><td>-</td><td>240</td></tr><tr><td>Jan. 11</td><td>223</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>223</td><td>4</td><td>-</td><td>-</td><td>-</td><td>227</td></tr><tr><td>Jan. 18</td><td>164</td><td>-</td><td>-</td><td>-</td><td>120</td><td>-</td><td>-</td><td>284</td><td>-</td><td>-</td><td>-</td><td>-</td><td>284</td></tr><tr><td>Jan. 25</td><td>112</td><td>-</td><td>-</td><td>-</td><td>46</td><td>-</td><td>-</td><td>158</td><td>68</td><td>-</td><td>-</td><td>-</td><td>226</td></tr><tr><td>Feb. 1</td><td>142</td><td>-</td><td>-</td><td>41</td><td>-</td><td>-</td><td>-</td><td>183</td><td>-</td><td>-</td><td>-</td><td>-</td><td>183</td></tr><tr><td>Sale of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>155</td><td>37</td><td>377</td><td>-</td><td>7</td><td>-</td><td>3</td><td>579</td><td>822</td><td>-</td><td>-</td><td>-</td><td>1,401</td></tr><tr><td>Jan. 11</td><td>239</td><td>27</td><td>77</td><td>-</td><td>3</td><td>17</td><td>3</td><td>363</td><td>1,080</td><td>-</td><td>5</td><td>-</td><td>1,448</td></tr><tr><td>Jan. 18</td><td>525</td><td>99</td><td>120</td><td>-</td><td>1</td><td>9</td><td>1</td><td>755</td><td>1,975</td><td>1</td><td>-</td><td>23</td><td>1,854</td></tr><tr><td>Jan. 25</td><td>462</td><td>38</td><td>98</td><td>-</td><td>1</td><td>1</td><td>9</td><td>608</td><td>1,567</td><td>-</td><td>-</td><td>18</td><td>2,193</td></tr><tr><td>Feb. 1</td><td>779</td><td>74</td><td>197</td><td>-</td><td>9</td><td>-</td><td>43</td><td>1,102</td><td>1,167</td><td>-</td><td>-</td><td>3</td><td>2,272</td></tr></table>
31
Security Transactions in Joint Foreign Arbitrage Accounts as Reported by Brokers and Dealers in the United States, for January 1939
(In thousands of dollars)
<table><tr><th>Classification and week ended</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Mother-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL PURCHASES IN THE UNITED STATES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>2,289</td><td>3</td><td>-</td><td>-</td><td>613</td><td>168</td><td>2</td><td>3,075</td><td>751</td><td>-</td><td>-</td><td>-</td><td>3,826</td></tr><tr><td>Jan. 11.........</td><td>5,427</td><td>-</td><td>-</td><td>-</td><td>626</td><td>214</td><td>-</td><td>6,267</td><td>1,275</td><td>-</td><td>-</td><td>-</td><td>7,542</td></tr><tr><td>Jan. 18.........</td><td>4,529</td><td>2</td><td>-</td><td>-</td><td>417</td><td>193</td><td>12</td><td>5,153</td><td>1,681</td><td>-</td><td>-</td><td>-</td><td>6,834</td></tr><tr><td>Jan. 25.........</td><td>1,019</td><td>-</td><td>-</td><td>-</td><td>99</td><td>-</td><td>1</td><td>1,119</td><td>965</td><td>-</td><td>-</td><td>-</td><td>2,084</td></tr><tr><td>Feb. 1.........</td><td>1,585</td><td>-</td><td>-</td><td>-</td><td>368</td><td>107</td><td>4</td><td>2,064</td><td>1,365</td><td>33</td><td>-</td><td>-</td><td>3,462</td></tr><tr><td>Purchases of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>2,131</td><td>-</td><td>-</td><td>-</td><td>610</td><td>168</td><td>-</td><td>2,909</td><td>21</td><td>-</td><td>-</td><td>-</td><td>2,930</td></tr><tr><td>Jan. 11.........</td><td>5,146</td><td>-</td><td>-</td><td>-</td><td>615</td><td>168</td><td>-</td><td>5,929</td><td>41</td><td>-</td><td>-</td><td>-</td><td>5,970</td></tr><tr><td>Jan. 18.........</td><td>4,133</td><td>-</td><td>-</td><td>-</td><td>387</td><td>166</td><td>-</td><td>4,686</td><td>29</td><td>-</td><td>-</td><td>-</td><td>4,715</td></tr><tr><td>Jan. 25.........</td><td>773</td><td>-</td><td>-</td><td>-</td><td>98</td><td>-</td><td>-</td><td>871</td><td>27</td><td>-</td><td>-</td><td>-</td><td>898</td></tr><tr><td>Feb. 1.........</td><td>1,034</td><td>-</td><td>-</td><td>-</td><td>363</td><td>101</td><td>-</td><td>1,498</td><td>28</td><td>-</td><td>-</td><td>-</td><td>1,526</td></tr><tr><td>Purchase of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>158</td><td>3</td><td>-</td><td>-</td><td>3</td><td>-</td><td>2</td><td>166</td><td>730</td><td>-</td><td>-</td><td>-</td><td>895</td></tr><tr><td>Jan. 11.........</td><td>281</td><td>-</td><td>-</td><td>-</td><td>11</td><td>46</td><td>-</td><td>338</td><td>1,234</td><td>-</td><td>-</td><td>-</td><td>1,572</td></tr><tr><td>Jan. 18.........</td><td>396</td><td>2</td><td>-</td><td>-</td><td>30</td><td>27</td><td>12</td><td>467</td><td>1,652</td><td>-</td><td>-</td><td>-</td><td>2,119</td></tr><tr><td>Jan. 25.........</td><td>246</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1</td><td>248</td><td>938</td><td>-</td><td>-</td><td>-</td><td>1,186</td></tr><tr><td>Feb. 1.........</td><td>551</td><td>-</td><td>-</td><td>-</td><td>5</td><td>6</td><td>4</td><td>566</td><td>1,337</td><td>33</td><td>-</td><td>-</td><td>1,936</td></tr><tr><td>TOTAL SALES IN THE UNITED STATES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>1,745</td><td>7</td><td>-</td><td>-</td><td>57</td><td>55</td><td>2</td><td>1,866</td><td>702</td><td>-</td><td>-</td><td>-</td><td>2,568</td></tr><tr><td>Jan. 11.........</td><td>3,625</td><td>4</td><td>-</td><td>-</td><td>415</td><td>91</td><td>8</td><td>4,143</td><td>1,586</td><td>-</td><td>-</td><td>-</td><td>5,729</td></tr><tr><td>Jan. 18.........</td><td>3,996</td><td>-</td><td>-</td><td>-</td><td>506</td><td>58</td><td>1</td><td>4,561</td><td>955</td><td>-</td><td>-</td><td>-</td><td>5,516</td></tr><tr><td>Jan. 25.........</td><td>8,083</td><td>2</td><td>-</td><td>-</td><td>882</td><td>55</td><td>5</td><td>9,027</td><td>1,328</td><td>9</td><td>-</td><td>-</td><td>10,364</td></tr><tr><td>Feb. 1.........</td><td>6,205</td><td>-</td><td>-</td><td>-</td><td>676</td><td>121</td><td>3</td><td>7,005</td><td>1,290</td><td>30</td><td>-</td><td>-</td><td>8,325</td></tr><tr><td>Sales of domestic securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>1,191</td><td>-</td><td>-</td><td>-</td><td>53</td><td>55</td><td>-</td><td>1,299</td><td>21</td><td>-</td><td>-</td><td>-</td><td>1,320</td></tr><tr><td>Jan. 11.........</td><td>2,836</td><td>-</td><td>-</td><td>-</td><td>402</td><td>80</td><td>-</td><td>3,318</td><td>27</td><td>-</td><td>-</td><td>-</td><td>3,345</td></tr><tr><td>Jan. 18.........</td><td>3,651</td><td>-</td><td>-</td><td>-</td><td>505</td><td>47</td><td>-</td><td>4,203</td><td>35</td><td>-</td><td>-</td><td>-</td><td>4,238</td></tr><tr><td>Jan. 25.........</td><td>6,653</td><td>-</td><td>-</td><td>-</td><td>869</td><td>55</td><td>-</td><td>7,577</td><td>25</td><td>-</td><td>-</td><td>-</td><td>7,602</td></tr><tr><td>Feb. 1.........</td><td>5,565</td><td>-</td><td>-</td><td>-</td><td>668</td><td>97</td><td>-</td><td>6,330</td><td>39</td><td>-</td><td>-</td><td>-</td><td>6,369</td></tr><tr><td>Sales of foreign securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.........</td><td>554</td><td>7</td><td>-</td><td>-</td><td>4</td><td>-</td><td>2</td><td>567</td><td>681</td><td>-</td><td>-</td><td>-</td><td>1,248</td></tr><tr><td>Jan. 11.........</td><td>789</td><td>4</td><td>-</td><td>-</td><td>13</td><td>11</td><td>8</td><td>825</td><td>1,559</td><td>-</td><td>-</td><td>-</td><td>2,384</td></tr><tr><td>Jan. 18.........</td><td>345</td><td>-</td><td>-</td><td>-</td><td>1</td><td>11</td><td>1</td><td>358</td><td>920</td><td>-</td><td>-</td><td>-</td><td>1,278</td></tr><tr><td>Jan. 25.........</td><td>1,430</td><td>2</td><td>-</td><td>-</td><td>13</td><td>-</td><td>5</td><td>1,450</td><td>1,303</td><td>9</td><td>-</td><td>-</td><td>2,762</td></tr><tr><td>Feb. 1.........</td><td>640</td><td>-</td><td>-</td><td>-</td><td>8</td><td>24</td><td>3</td><td>675</td><td>1,251</td><td>30</td><td>-</td><td>-</td><td>1,956</td></tr></table>
Foreign Balances in Brokerage Accounts as Reported by Brokers and Dealers in the United States, for January 1939
(In thousands of dollars)
<table><tr><th>Classification and date</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nother-lande</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>Foreign debit balances: (due from abroad)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>9,139</td><td>6,800</td><td>187</td><td>82</td><td>3,701</td><td>3,032</td><td>5,559</td><td>28,500</td><td>21,794</td><td>4,618</td><td>8,622</td><td>384</td><td>63,918</td></tr><tr><td>Jan. 11.</td><td>8,829</td><td>6,137</td><td>201</td><td>87</td><td>3,801</td><td>2,442</td><td>5,566</td><td>27,063</td><td>23,421</td><td>4,872</td><td>7,996</td><td>398</td><td>63,750</td></tr><tr><td>Jan. 18.</td><td>8,683</td><td>5,979</td><td>189</td><td>88</td><td>3,594</td><td>2,324</td><td>4,883</td><td>25,740</td><td>22,313</td><td>4,847</td><td>8,037</td><td>384</td><td>61,321</td></tr><tr><td>Jan. 25.</td><td>8,358</td><td>5,648</td><td>156</td><td>89</td><td>3,219</td><td>2,103</td><td>4,457</td><td>24,030</td><td>21,354</td><td>4,723</td><td>7,721</td><td>406</td><td>58,234</td></tr><tr><td>Feb. 1.</td><td>7,641</td><td>4,934</td><td>148</td><td>88</td><td>3,036</td><td>2,194</td><td>4,306</td><td>22,407</td><td>20,182</td><td>4,576</td><td>6,814</td><td>375</td><td>54,354</td></tr><tr><td>Foreign credit balances: (due to abroad)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4.</td><td>6,522</td><td>5,669</td><td>214</td><td>147</td><td>4,210</td><td>7,386</td><td>3,058</td><td>27,206</td><td>4,454</td><td>1,733</td><td>643</td><td>321</td><td>34,357</td></tr><tr><td>Jan. 11.</td><td>7,212</td><td>6,152</td><td>258</td><td>155</td><td>4,386</td><td>7,292</td><td>2,918</td><td>28,373</td><td>4,549</td><td>1,998</td><td>669</td><td>375</td><td>35,964</td></tr><tr><td>Jan. 18.</td><td>7,529</td><td>5,833</td><td>228</td><td>161</td><td>4,659</td><td>7,920</td><td>2,680</td><td>29,010</td><td>4,567</td><td>1,989</td><td>713</td><td>350</td><td>36,629</td></tr><tr><td>Jan. 25.</td><td>7,999</td><td>6,885</td><td>209</td><td>156</td><td>4,736</td><td>7,610</td><td>3,085</td><td>30,680</td><td>4,269</td><td>2,020</td><td>682</td><td>607</td><td>38,258</td></tr><tr><td>Feb. 1.</td><td>8,836</td><td>7,677</td><td>212</td><td>163</td><td>4,772</td><td>8,016</td><td>2,903</td><td>32,579</td><td>3,554</td><td>1,872</td><td>763</td><td>350</td><td>39,118</td></tr></table>
32
Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported by Banks and Bankers in the United States, for January 1939
(In thousands of dollars)
<table><tr><th>Classification, week ended, and delivery</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL PURCHASES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>78,054</td><td>4,739</td><td>289</td><td>566</td><td>2,436</td><td>921</td><td>2,710</td><td>89,708</td><td>22,323</td><td>476</td><td>2,142</td><td>733</td><td>115,382</td></tr><tr><td>Jan. 4 Forward</td><td>42,461</td><td>779</td><td>40</td><td>23</td><td>1,002</td><td>284</td><td>574</td><td>45,163</td><td>5,737</td><td>169</td><td>2,115</td><td>7</td><td>57,191</td></tr><tr><td>Jan. 11 Spot</td><td>91,474</td><td>2,178</td><td>551</td><td>754</td><td>2,493</td><td>1,067</td><td>4,096</td><td>102,613</td><td>18,238</td><td>324</td><td>2,701</td><td>567</td><td>120,443</td></tr><tr><td>Jan. 11 Forward</td><td>50,376</td><td>1,597</td><td>16</td><td>26</td><td>426</td><td>248</td><td>1,429</td><td>54,118</td><td>5,937</td><td>-</td><td>2,122</td><td>-</td><td>62,177</td></tr><tr><td>Jan. 18 Spot</td><td>79,536</td><td>3,172</td><td>649</td><td>615</td><td>2,977</td><td>773</td><td>2,632</td><td>90,454</td><td>21,583</td><td>320</td><td>1,755</td><td>397</td><td>114,509</td></tr><tr><td>Jan. 18 Forward</td><td>38,193</td><td>526</td><td>47</td><td>294</td><td>810</td><td>55</td><td>1,841</td><td>41,766</td><td>6,469</td><td>882</td><td>1,175</td><td>16</td><td>50,308</td></tr><tr><td>Jan. 25 Spot</td><td>80,833</td><td>2,110</td><td>401</td><td>598</td><td>6,031</td><td>1,333</td><td>3,972</td><td>95,278</td><td>25,488</td><td>264</td><td>2,357</td><td>328</td><td>123,725</td></tr><tr><td>Jan. 25 Forward</td><td>39,421</td><td>314</td><td>1</td><td>27</td><td>1,515</td><td>151</td><td>1,392</td><td>42,821</td><td>6,975</td><td>17</td><td>2,379</td><td>117</td><td>52,309</td></tr><tr><td>Feb. 1 Spot</td><td>70,552</td><td>3,649</td><td>388</td><td>729</td><td>4,229</td><td>1,861</td><td>6,280</td><td>87,688</td><td>23,283</td><td>278</td><td>3,597</td><td>668</td><td>115,514</td></tr><tr><td>Feb. 1 Forward</td><td>41,104</td><td>551</td><td>40</td><td>17</td><td>2,340</td><td>290</td><td>2,941</td><td>47,283</td><td>5,702</td><td>-</td><td>2,334</td><td>13</td><td>55,332</td></tr><tr><td>Purchasee from banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>58,977</td><td>3,919</td><td>245</td><td>450</td><td>2,077</td><td>838</td><td>2,473</td><td>68,982</td><td>15,093</td><td>186</td><td>1,170</td><td>214</td><td>85,645</td></tr><tr><td>Jan. 4 Forward</td><td>29,699</td><td>717</td><td>38</td><td>20</td><td>572</td><td>266</td><td>81</td><td>31,393</td><td>3,532</td><td>2</td><td>1,182</td><td>2</td><td>36,111</td></tr><tr><td>Jan. 11 Spot</td><td>76,112</td><td>2,033</td><td>527</td><td>609</td><td>1,917</td><td>1,006</td><td>3,999</td><td>86,203</td><td>12,525</td><td>219</td><td>1,846</td><td>220</td><td>101,013</td></tr><tr><td>Jan. 11 Forward</td><td>35,301</td><td>1,082</td><td>16</td><td>26</td><td>252</td><td>217</td><td>1,044</td><td>37,938</td><td>4,075</td><td>-</td><td>1,406</td><td>-</td><td>43,119</td></tr><tr><td>Jan. 18 Spot</td><td>65,188</td><td>2,829</td><td>594</td><td>502</td><td>2,723</td><td>758</td><td>2,544</td><td>75,138</td><td>13,462</td><td>217</td><td>1,240</td><td>91</td><td>90,148</td></tr><tr><td>Jan. 18 Forward</td><td>24,592</td><td>403</td><td>47</td><td>294</td><td>366</td><td>55</td><td>691</td><td>26,448</td><td>3,832</td><td>-</td><td>888</td><td>-</td><td>31,168</td></tr><tr><td>Jan. 25 Spot</td><td>65,748</td><td>1,784</td><td>371</td><td>517</td><td>5,944</td><td>1,027</td><td>3,854</td><td>79,245</td><td>17,538</td><td>154</td><td>1,722</td><td>86</td><td>98,745</td></tr><tr><td>Jan. 25 Forward</td><td>26,734</td><td>147</td><td>1</td><td>24</td><td>1,079</td><td>144</td><td>1,309</td><td>29,438</td><td>4,792</td><td>12</td><td>937</td><td>87</td><td>35,266</td></tr><tr><td>Feb. 1 Spot</td><td>56,647</td><td>2,887</td><td>381</td><td>580</td><td>3,797</td><td>1,838</td><td>5,926</td><td>72,056</td><td>14,717</td><td>192</td><td>2,788</td><td>116</td><td>89,869</td></tr><tr><td>Feb. 1 Forward</td><td>22,479</td><td>529</td><td>38</td><td>17</td><td>1,690</td><td>267</td><td>1,694</td><td>26,714</td><td>3,049</td><td>-</td><td>1,527</td><td>6</td><td>31,296</td></tr><tr><td>Purchasee from customers other than banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>19,077</td><td>820</td><td>41</td><td>116</td><td>359</td><td>76</td><td>237</td><td>20,726</td><td>7,330</td><td>290</td><td>972</td><td>519</td><td>29,737</td></tr><tr><td>Jan. 4 Forward</td><td>12,762</td><td>62</td><td>2</td><td>3</td><td>430</td><td>18</td><td>493</td><td>13,770</td><td>2,205</td><td>167</td><td>933</td><td>5</td><td>17,080</td></tr><tr><td>Jan. 11 Spot</td><td>15,362</td><td>145</td><td>24</td><td>145</td><td>576</td><td>61</td><td>97</td><td>16,410</td><td>5,713</td><td>105</td><td>855</td><td>347</td><td>23,430</td></tr><tr><td>Jan. 11 Forward</td><td>15,075</td><td>515</td><td>-</td><td>-</td><td>174</td><td>31</td><td>385</td><td>15,180</td><td>1,862</td><td>-</td><td>716</td><td>-</td><td>18,758</td></tr><tr><td>Jan. 18 Spot</td><td>14,448</td><td>343</td><td>55</td><td>113</td><td>254</td><td>15</td><td>88</td><td>15,716</td><td>8,121</td><td>103</td><td>515</td><td>306</td><td>24,361</td></tr><tr><td>Jan. 18 Forward</td><td>13,601</td><td>123</td><td>-</td><td>-</td><td>444</td><td>-</td><td>1,150</td><td>15,318</td><td>2,637</td><td>832</td><td>287</td><td>16</td><td>19,140</td></tr><tr><td>Jan. 25 Spot</td><td>15,085</td><td>326</td><td>30</td><td>81</td><td>87</td><td>306</td><td>118</td><td>16,033</td><td>7,950</td><td>110</td><td>645</td><td>242</td><td>24,980</td></tr><tr><td>Jan. 25 Forward</td><td>12,687</td><td>167</td><td>-</td><td>3</td><td>436</td><td>7</td><td>83</td><td>13,383</td><td>2,183</td><td>5</td><td>1,442</td><td>30</td><td>17,043</td></tr><tr><td>Feb. 1 Spot</td><td>13,905</td><td>762</td><td>7</td><td>149</td><td>432</td><td>23</td><td>354</td><td>15,632</td><td>8,566</td><td>86</td><td>809</td><td>552</td><td>25,645</td></tr><tr><td>Feb. 1 Forward</td><td>18,525</td><td>22</td><td>2</td><td>-</td><td>650</td><td>23</td><td>1,247</td><td>20,569</td><td>2,653</td><td>-</td><td>807</td><td>7</td><td>24,036</td></tr><tr><td>TOTAL SALES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>78,971</td><td>4,330</td><td>293</td><td>408</td><td>1,780</td><td>1,110</td><td>3,028</td><td>89,923</td><td>20,525</td><td>583</td><td>2,912</td><td>272</td><td>114,215</td></tr><tr><td>Jan. 4 Forward</td><td>44,616</td><td>1,127</td><td>63</td><td>17</td><td>1,180</td><td>138</td><td>790</td><td>47,871</td><td>8,363</td><td>167</td><td>1,589</td><td>-</td><td>57,990</td></tr><tr><td>Jan. 11 Spot</td><td>87,400</td><td>2,132</td><td>517</td><td>547</td><td>1,606</td><td>1,156</td><td>3,386</td><td>96,744</td><td>15,737</td><td>245</td><td>2,592</td><td>329</td><td>115,647</td></tr><tr><td>Jan. 11 Forward</td><td>53,551</td><td>1,722</td><td>46</td><td>24</td><td>1,501</td><td>104</td><td>1,622</td><td>58,570</td><td>9,011</td><td>-</td><td>2,482</td><td>-</td><td>70,063</td></tr><tr><td>Jan. 18 Spot</td><td>65,857</td><td>3,421</td><td>602</td><td>507</td><td>2,172</td><td>791</td><td>2,784</td><td>76,134</td><td>18,741</td><td>183</td><td>2,209</td><td>152</td><td>97,419</td></tr><tr><td>Jan. 18 Forward</td><td>52,013</td><td>616</td><td>11</td><td>99</td><td>2,040</td><td>61</td><td>1,264</td><td>56,104</td><td>10,468</td><td>-</td><td>2,002</td><td>-</td><td>68,574</td></tr><tr><td>Jan. 25 Spot</td><td>72,635</td><td>1,821</td><td>452</td><td>436</td><td>5,636</td><td>1,323</td><td>3,054</td><td>85,357</td><td>24,115</td><td>285</td><td>2,905</td><td>153</td><td>112,815</td></tr><tr><td>Jan. 25 Forward</td><td>52,904</td><td>837</td><td>36</td><td>3</td><td>1,906</td><td>582</td><td>2,960</td><td>59,228</td><td>8,586</td><td>26</td><td>1,871</td><td>84</td><td>69,795</td></tr><tr><td>Feb. 1 Spot</td><td>75,784</td><td>3,178</td><td>460</td><td>482</td><td>4,267</td><td>1,200</td><td>4,212</td><td>89,583</td><td>20,923</td><td>329</td><td>2,655</td><td>167</td><td>113,657</td></tr><tr><td>Feb. 1 Forward</td><td>35,556</td><td>805</td><td>273</td><td>33</td><td>2,966</td><td>933</td><td>4,040</td><td>44,606</td><td>8,067</td><td>1</td><td>2,573</td><td>1</td><td>55,248</td></tr><tr><td>Sales to banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>65,854</td><td>3,445</td><td>170</td><td>231</td><td>1,188</td><td>786</td><td>1,863</td><td>73,538</td><td>13,435</td><td>323</td><td>1,115</td><td>11</td><td>85,422</td></tr><tr><td>Jan. 4 Forward</td><td>29,225</td><td>762</td><td>61</td><td>16</td><td>629</td><td>99</td><td>750</td><td>31,542</td><td>6,824</td><td>162</td><td>1,411</td><td>-</td><td>39,939</td></tr><tr><td>Jan. 11 Spot</td><td>76,308</td><td>1,481</td><td>351</td><td>255</td><td>1,165</td><td>908</td><td>2,073</td><td>82,541</td><td>9,787</td><td>31</td><td>1,054</td><td>89</td><td>93,502</td></tr><tr><td>Jan. 11 Forward</td><td>37,417</td><td>1,147</td><td>46</td><td>21</td><td>874</td><td>31</td><td>1,533</td><td>41,069</td><td>6,976</td><td>-</td><td>2,179</td><td>-</td><td>50,224</td></tr><tr><td>Jan. 18 Spot</td><td>52,347</td><td>2,265</td><td>449</td><td>259</td><td>1,418</td><td>469</td><td>1,931</td><td>59,138</td><td>12,331</td><td>63</td><td>703</td><td>28</td><td>72,263</td></tr><tr><td>Jan. 18 Forward</td><td>37,285</td><td>516</td><td>11</td><td>97</td><td>900</td><td>32</td><td>1,255</td><td>40,096</td><td>8,254</td><td>-</td><td>1,925</td><td>-</td><td>50,275</td></tr><tr><td>Jan. 25 Spot</td><td>59,513</td><td>1,046</td><td>303</td><td>248</td><td>5,042</td><td>1,015</td><td>2,308</td><td>69,475</td><td>15,816</td><td>107</td><td>781</td><td>27</td><td>86,206</td></tr><tr><td>Jan. 25 Forward</td><td>35,628</td><td>719</td><td>35</td><td>-</td><td>862</td><td>326</td><td>2,945</td><td>40,516</td><td>7,510</td><td>24</td><td>1,756</td><td>10</td><td>49,816</td></tr><tr><td>Feb. 1 Spot</td><td>59,385</td><td>2,402</td><td>286</td><td>249</td><td>3,854</td><td>856</td><td>3,131</td><td>70,153</td><td>13,779</td><td>79</td><td>1,345</td><td>26</td><td>85,392</td></tr><tr><td>Feb. 1 Forward</td><td>24,824</td><td>614</td><td>73</td><td>31</td><td>1,530</td><td>924</td><td>4,038</td><td>32,034</td><td>6,727</td><td>-</td><td>2,029</td><td>1</td><td>40,791</td></tr><tr><td>Sales to customers other than banks:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4 Spot</td><td>13,120</td><td>884</td><td>123</td><td>177</td><td>592</td><td>324</td><td>1,165</td><td>16,385</td><td>7,090</td><td>260</td><td>1,797</td><td>261</td><td>25,793</td></tr><tr><td>Jan. 4 Forward</td><td>15,391</td><td>365</td><td>2</td><td>1</td><td>491</td><td>39</td><td>40</td><td>16,329</td><td>1,539</td><td>5</td><td>178</td><td>-</td><td>18,051</td></tr><tr><td>Jan. 11 Spot</td><td>11,092</td><td>651</td><td>166</td><td>292</td><td>441</td><td>248</td><td>1,313</td><td>14,203</td><td>5,950</td><td>214</td><td>1,538</td><td>240</td><td>22,145</td></tr><tr><td>Jan. 11 Forward</td><td>16,134</td><td>575</td><td>-</td><td>3</td><td>627</td><td>73</td><td>89</td><td>17,501</td><td>2,035</td><td>-</td><td>303</td><td>-</td><td>19,839</td></tr><tr><td>Jan. 18 Spot</td><td>13,510</td><td>1,156</td><td>153</td><td>248</td><td>754</td><td>322</td><td>853</td><td>16,996</td><td>6,410</td><td>120</td><td>1,506</td><td>124</td><td>25,156</td></tr><tr><td>Jan. 18 Forward</td><td>14,728</td><td>100</td><td>-</td><td>2</td><td>1,140</td><td>29</td><td>9</td><td>16,008</td><td>2,214</td><td>-</td><td>77</td><td>-</td><td>18,299</td></tr><tr><td>Jan. 25 Spot</td><td>13,122</td><td>775</td><td>149</td><td>188</td><td>594</td><td>308</td><td>746</td><td>15,882</td><td>8,299</td><td>178</td><td>2,124</td><td>126</td><td>26,609</td></tr><tr><td>Jan. 25 Forward</td><td>17,276</td><td>118</td><td>-</td><td>3</td><td>1,044</td><td>256</td><td>15</td><td>18,712</td><td>1,076</td><td>2</td><td>115</td><td>74</td><td>19,979</td></tr><tr><td>Feb. 1 Spot</td><td>16,399</td><td>776</td><td>174</td><td>233</td><td>413</td><td>344</td><td>1,081</td><td>1
33
Outstanding Forward Exchange Contracts as Reported by Banks and Bankers in the United States during January 1939
(In thousands of dollars)
<table><tr><th>Classification and date</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>TOTAL PURCHASE CONTRACTS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>344,939</td><td>9,610</td><td>79</td><td>404</td><td>9,684</td><td>3,096</td><td>14,850</td><td>382,662</td><td>67,525</td><td>2,085</td><td>14,401</td><td>218</td><td>466,891</td></tr><tr><td>Jan. 11</td><td>344,331</td><td>9,950</td><td>67</td><td>320</td><td>9,682</td><td>3,280</td><td>14,641</td><td>382,231</td><td>69,815</td><td>2,085</td><td>15,103</td><td>195</td><td>469,429</td></tr><tr><td>Jan. 18</td><td>328,575</td><td>9,268</td><td>64</td><td>367</td><td>10,151</td><td>3,300</td><td>15,035</td><td>366,760</td><td>71,361</td><td>2,085</td><td>15,478</td><td>208</td><td>455,892</td></tr><tr><td>Jan. 25</td><td>332,517</td><td>8,438</td><td>60</td><td>369</td><td>11,122</td><td>3,349</td><td>16,180</td><td>372,035</td><td>73,518</td><td>2,103</td><td>15,874</td><td>323</td><td>463,853</td></tr><tr><td>Feb. 1</td><td>333,125</td><td>7,711</td><td>89</td><td>371</td><td>10,954</td><td>3,290</td><td>16,097</td><td>371,637</td><td>71,437</td><td>2,102</td><td>15,407</td><td>337</td><td>460,920</td></tr><tr><td>Contracts for purchases from foreign customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>106,072</td><td>4,740</td><td>33</td><td>9</td><td>2,024</td><td>981</td><td>4,503</td><td>118,362</td><td>8,739</td><td>886</td><td>3,024</td><td>-</td><td>131,011</td></tr><tr><td>Jan. 11</td><td>107,092</td><td>4,902</td><td>21</td><td>9</td><td>1,963</td><td>1,044</td><td>4,498</td><td>119,529</td><td>9,004</td><td>886</td><td>3,369</td><td>-</td><td>132,788</td></tr><tr><td>Jan. 18</td><td>101,081</td><td>5,042</td><td>18</td><td>9</td><td>2,234</td><td>986</td><td>4,207</td><td>113,577</td><td>9,598</td><td>886</td><td>3,652</td><td>-</td><td>127,713</td></tr><tr><td>Jan. 25</td><td>101,233</td><td>4,364</td><td>13</td><td>9</td><td>2,599</td><td>1,107</td><td>4,446</td><td>113,771</td><td>10,254</td><td>886</td><td>4,039</td><td>74</td><td>129,024</td></tr><tr><td>Feb. 1</td><td>102,762</td><td>3,816</td><td>43</td><td>12</td><td>3,155</td><td>1,072</td><td>4,206</td><td>115,066</td><td>8,951</td><td>886</td><td>3,890</td><td>74</td><td>128,867</td></tr><tr><td>Contracts for purchases from domestic customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>238,857</td><td>4,870</td><td>46</td><td>395</td><td>7,660</td><td>2,115</td><td>10,347</td><td>264,300</td><td>58,786</td><td>1,199</td><td>11,377</td><td>218</td><td>335,880</td></tr><tr><td>Jan. 11</td><td>237,239</td><td>5,048</td><td>46</td><td>311</td><td>7,679</td><td>2,236</td><td>10,143</td><td>262,702</td><td>60,811</td><td>1,199</td><td>11,734</td><td>195</td><td>336,641</td></tr><tr><td>Jan. 18</td><td>227,494</td><td>4,226</td><td>46</td><td>358</td><td>7,917</td><td>2,314</td><td>10,828</td><td>253,183</td><td>61,763</td><td>1,199</td><td>11,826</td><td>208</td><td>328,179</td></tr><tr><td>Jan. 25</td><td>231,284</td><td>4,074</td><td>47</td><td>360</td><td>8,523</td><td>2,242</td><td>11,734</td><td>258,264</td><td>63,264</td><td>1,217</td><td>11,835</td><td>249</td><td>334,829</td></tr><tr><td>Feb. 1</td><td>230,363</td><td>3,895</td><td>46</td><td>359</td><td>7,799</td><td>2,218</td><td>11,891</td><td>256,571</td><td>62,486</td><td>1,216</td><td>11,517</td><td>263</td><td>332,053</td></tr><tr><td>TOTAL SALE CONTRACTS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>359,022</td><td>12,869</td><td>165</td><td>628</td><td>15,064</td><td>5,877</td><td>17,847</td><td>411,472</td><td>75,727</td><td>4,509</td><td>15,402</td><td>224</td><td>507,334</td></tr><tr><td>Jan. 11</td><td>363,734</td><td>12,904</td><td>186</td><td>506</td><td>15,537</td><td>5,828</td><td>17,236</td><td>415,931</td><td>78,000</td><td>4,483</td><td>16,403</td><td>193</td><td>515,010</td></tr><tr><td>Jan. 18</td><td>358,690</td><td>12,159</td><td>199</td><td>625</td><td>16,560</td><td>5,785</td><td>17,203</td><td>411,221</td><td>80,229</td><td>4,482</td><td>17,701</td><td>190</td><td>513,823</td></tr><tr><td>Jan. 25</td><td>368,850</td><td>11,563</td><td>181</td><td>574</td><td>18,164</td><td>5,882</td><td>17,770</td><td>422,984</td><td>81,586</td><td>4,019</td><td>18,380</td><td>258</td><td>527,227</td></tr><tr><td>Feb. 1</td><td>359,407</td><td>10,917</td><td>435</td><td>567</td><td>18,833</td><td>6,273</td><td>19,415</td><td>415,847</td><td>79,303</td><td>4,009</td><td>16,924</td><td>223</td><td>516,306</td></tr><tr><td>Contracts for sale to foreign customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>115,800</td><td>6,718</td><td>59</td><td>147</td><td>7,262</td><td>3,727</td><td>11,591</td><td>145,304</td><td>32,922</td><td>4,270</td><td>9,891</td><td>151</td><td>192,538</td></tr><tr><td>Jan. 11</td><td>116,260</td><td>7,034</td><td>104</td><td>86</td><td>7,972</td><td>3,443</td><td>12,118</td><td>147,017</td><td>36,184</td><td>4,271</td><td>10,511</td><td>149</td><td>198,132</td></tr><tr><td>Jan. 18</td><td>117,767</td><td>6,659</td><td>61</td><td>123</td><td>7,855</td><td>3,476</td><td>12,449</td><td>148,400</td><td>37,468</td><td>4,271</td><td>11,733</td><td>140</td><td>202,012</td></tr><tr><td>Jan. 25</td><td>117,430</td><td>6,480</td><td>97</td><td>123</td><td>8,235</td><td>3,546</td><td>13,342</td><td>149,253</td><td>36,544</td><td>3,772</td><td>12,618</td><td>140</td><td>202,327</td></tr><tr><td>Feb. 1</td><td>114,208</td><td>6,211</td><td>150</td><td>123</td><td>8,256</td><td>4,004</td><td>14,159</td><td>147,111</td><td>36,210</td><td>3,771</td><td>10,680</td><td>88</td><td>197,860</td></tr><tr><td>Contracts for sales to domestic customers:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>243,222</td><td>6,151</td><td>106</td><td>481</td><td>7,802</td><td>2,150</td><td>6,256</td><td>266,168</td><td>42,805</td><td>239</td><td>5,511</td><td>73</td><td>314,796</td></tr><tr><td>Jan. 11</td><td>247,474</td><td>5,870</td><td>82</td><td>420</td><td>7,555</td><td>2,385</td><td>5,118</td><td>268,914</td><td>41,816</td><td>212</td><td>5,892</td><td>44</td><td>316,878</td></tr><tr><td>Jan. 18</td><td>240,923</td><td>5,500</td><td>138</td><td>502</td><td>8,695</td><td>2,309</td><td>4,754</td><td>262,821</td><td>42,761</td><td>211</td><td>5,958</td><td>50</td><td>311,811</td></tr><tr><td>Jan. 25</td><td>251,420</td><td>5,083</td><td>84</td><td>451</td><td>9,929</td><td>2,336</td><td>4,428</td><td>273,731</td><td>45,042</td><td>247</td><td>5,762</td><td>118</td><td>324,900</td></tr><tr><td>Feb. 1</td><td>245,199</td><td>4,706</td><td>285</td><td>444</td><td>10,577</td><td>2,269</td><td>5,256</td><td>268,736</td><td>43,093</td><td>238</td><td>6,244</td><td>135</td><td>318,446</td></tr></table>
Net Position in Foreign Currencies of Reporting Banks and Bankers in the United States for January 1939
(Minus indicates short position: In thousands of dollars)
<table><tr><th rowspan="2">Classification and date</th><th colspan="10">Currency of-</th></tr><tr><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switzer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latin America</th><th>Far East</th><th>All other</th><th>Grand total</th></tr><tr><td>Net position as of:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Jan. 4</td><td>-9,373</td><td>-2,368</td><td>-39</td><td>-963</td><td>-2,118</td><td>-858</td><td>-2,240</td><td>-17,959</td><td>2,960</td><td>56</td><td>-5,550</td><td>71</td><td>-20,422</td></tr><tr><td>Jan. 11</td><td>-8,899</td><td>-2,486</td><td>-50</td><td>-916</td><td>-2,253</td><td>-800</td><td>-1,733</td><td>-17,137</td><td>2,533</td><td>138</td><td>-5,904</td><td>67</td><td>-20,303</td></tr><tr><td>Jan. 18</td><td>-8,787</td><td>-2,757</td><td>24</td><td>-909</td><td>-2,524</td><td>-919</td><td>-1,213</td><td>-17,085</td><td>1,103</td><td>86</td><td>-6,176</td><td>130</td><td>-21,942</td></tr><tr><td>Jan. 25</td><td>-13,784</td><td>-2,974</td><td>-61</td><td>-954</td><td>-2,587</td><td>-1,256</td><td>-1,859</td><td>-23,475</td><td>1,116</td><td>59</td><td>-6,206</td><td>122</td><td>-28,384</td></tr><tr><td>Feb. 1</td><td>-11,429</td><td>-2,801</td><td>-360</td><td>-955</td><td>-3,320</td><td>-1,233</td><td>-837</td><td>-20,845</td><td>1,131</td><td>17</td><td>-5,677</td><td>143</td><td>-25,231</td></tr></table>
OTHER MONETARY STATISTICS
12.5.1.1
35
Gold Assets and Liabilities of the Treasury
(In millions of dollars - 00 basis of daily Treasury statements unrevised)
<table><tr><th>End of calendar year or month</th><th>Gold Assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold Certificate 1/</th><th>Gold Reserve against U.S. notes, etc. 2/</th><th>Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1934</td><td>8,238.6</td><td>5,274.0</td><td>156.0</td><td>1,800.0</td><td>1,008.6</td></tr><tr><td>1935</td><td>10,122.9</td><td>7,679.5</td><td>156.0</td><td>1,800.0</td><td>487.4</td></tr><tr><td>1936</td><td>11,257.6</td><td>8,959.6</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938-Mar.</td><td>12,794.4</td><td>9,303.5</td><td>156.0</td><td>1,800.0</td><td>1,534.9</td></tr><tr><td>Apr.</td><td>12,868.7</td><td>10,730.5</td><td>156.0</td><td>1,800.0</td><td>182.2</td></tr><tr><td>May</td><td>12,915.1</td><td>10,727.3</td><td>156.0</td><td>1,800.0</td><td>231.7</td></tr><tr><td>June.</td><td>12,962.9</td><td>10,723.9</td><td>156.0</td><td>1,800.0</td><td>283.0</td></tr><tr><td>July.</td><td>13,017.4</td><td>10,720.2</td><td>156.0</td><td>1,800.0</td><td>341.1</td></tr><tr><td>Aug.</td><td>13,135.5</td><td>10,717.1</td><td>156.0</td><td>1,800.0</td><td>462.4</td></tr><tr><td>Sept.</td><td>13,759.3</td><td>10,994.5</td><td>156.0</td><td>1,800.0</td><td>808.8</td></tr><tr><td>Oct.</td><td>14,064.3</td><td>11,347.6</td><td>156.0</td><td>1,800.0</td><td>760.6</td></tr><tr><td>Nov.</td><td>14,311.9</td><td>11,688.3</td><td>156.0</td><td>1,800.0</td><td>667.6</td></tr><tr><td>Dec.</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939-Jan.</td><td>14,680.9</td><td>12,022.3</td><td>156.0</td><td>1,800.0</td><td>702.5</td></tr><tr><td>Feb.</td><td>14,874.3</td><td>12,199.1</td><td>156.0</td><td>1,800.0</td><td>719.2</td></tr><tr><td>Mar.</td><td>15,258.2</td><td>12,627.0</td><td>156.0</td><td>1,800.0</td><td>675.2</td></tr></table>
1/ Gold certificates outside of Treasury, gold certificate fund Board of Governors, Federal Reserve System, and Redemption fund for Federal Reserve notes.
2/ Reserve against $346,681,016 United States notes and $1,167,572 Treasury notes of 1890 outstanding.
3/ This does not include gold in the active portion of the Stabilization Fund.
Net Movement of Gold to and from the United States
(In millions of dollars at $35 per fine ounce)
<table><tr><th>Calendar year or month</th><th>United Kingdom</th><th>France</th><th>Nether-lande</th><th>Switzer-land</th><th>Canada</th><th>Mexico</th><th>Japan</th><th>Bel-gium</th><th>British India</th><th>Aus-tralia</th><th>Philip-pine Islande</th><th>Co-lombia</th><th>Chile</th><th>Peru</th><th>China 1/</th><th>All other</th><th>Total net import or net export (-)</th></tr><tr><td>1933.....</td><td>10.8</td><td>-365.1</td><td>13.4</td><td>-19.7</td><td>33.6</td><td>7.2</td><td>11.3</td><td>-1.5</td><td>43.3</td><td>5.4</td><td>9.7</td><td>.2</td><td>4.0</td><td>2.6</td><td>21.7</td><td>-70.6</td><td>-293.7</td></tr><tr><td>1934.....</td><td>499.9</td><td>260.2</td><td>94.3</td><td>12.4</td><td>86.8</td><td>30.3</td><td>-</td><td>8.9</td><td>-76.8</td><td>1.0</td><td>12.0</td><td>16.9</td><td>5.5</td><td>1.4</td><td>16.5</td><td>9.1</td><td>1,132.0</td></tr><tr><td>1935.....</td><td>315.7</td><td>934.2</td><td>227.2</td><td>1.0</td><td>95.2</td><td>13.7</td><td>-</td><td>-</td><td>75.3</td><td>3.5</td><td>15.3</td><td>10.9</td><td>6.6</td><td>.3</td><td>9.4</td><td>30.7</td><td>1,739.0</td></tr><tr><td>1936.....</td><td>174.1</td><td>573.7</td><td>71.0</td><td>7.5</td><td>72.6</td><td>40.0</td><td>-</td><td>3.4</td><td>77.9</td><td>23.3</td><td>21.5</td><td>11.9</td><td>7.9</td><td>4.1</td><td>7.9</td><td>19.8</td><td>1,116.6</td></tr><tr><td>1937.....</td><td>891.5</td><td>-13.7</td><td>6.5</td><td>54.5</td><td>111.5</td><td>38.5</td><td>246.5</td><td>90.9</td><td>50.8</td><td>34.7</td><td>25.4</td><td>18.4</td><td>9.4</td><td>3.1</td><td>1.6</td><td>15.9</td><td>1,585.5</td></tr><tr><td>1938.....</td><td>1,208.7</td><td>81.1</td><td>163.0</td><td>1.4</td><td>76.3</td><td>36.5</td><td>168.7</td><td>15.5</td><td>16.2</td><td>39.2</td><td>27.9</td><td>10.6</td><td>8.4</td><td>4.0</td><td>11.7</td><td>104.4</td><td>1,973.6</td></tr><tr><td>1938-Mar.....</td><td>31.4</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>2.8</td><td>4.5</td><td>4.2</td><td>3.0</td><td>.5</td><td>2.2</td><td>2.1</td><td>.6</td><td>.3</td><td>-</td><td>.6</td><td>52.9</td></tr><tr><td>Apr.....</td><td>35.4</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>1.8</td><td>23.3</td><td>1.9</td><td>2.4</td><td>1.2</td><td>1.9</td><td>-</td><td>.9</td><td>.3</td><td>.2</td><td>1.1</td><td>71.1</td></tr><tr><td>May.....</td><td>2.9</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>5.7</td><td>22.0</td><td>.9</td><td>-</td><td>3.6</td><td>2.3</td><td>2.1</td><td>1.0</td><td>.8</td><td>.1</td><td>10.8</td><td>52.8</td></tr><tr><td>June.....</td><td>20.6</td><td>-</td><td>.6</td><td>.2</td><td>.7</td><td>.7</td><td>5.8</td><td>3.2</td><td>2.3</td><td>3.0</td><td>3.2</td><td>-</td><td>.5</td><td>.4</td><td>1.1</td><td>13.0</td><td>55.3</td></tr><tr><td>July.....</td><td>5.0</td><td>.9</td><td>-</td><td>-</td><td>1.0</td><td>11.1</td><td>28.7</td><td>-</td><td>1.1</td><td>3.4</td><td>2.4</td><td>-</td><td>.4</td><td>.3</td><td>1.2</td><td>8.3</td><td>63.8</td></tr><tr><td>Aug.....</td><td>91.2</td><td>4.7</td><td>-</td><td>-</td><td>14.3</td><td>3.2</td><td>23.5</td><td>3.2</td><td>-</td><td>2.7</td><td>1.8</td><td>2.1</td><td>1.1</td><td>.3</td><td>1.5</td><td>16.4</td><td>166.0</td></tr><tr><td>Sept.....</td><td>378.0</td><td>-</td><td>47.2</td><td>-</td><td>38.1</td><td>1.4</td><td>35.1</td><td>-</td><td>-</td><td>3.8</td><td>2.7</td><td>-</td><td>.4</td><td>.4</td><td>1.5</td><td>12.3</td><td>520.9</td></tr><tr><td>Oct.....</td><td>443.4</td><td>43.0</td><td>41.8</td><td>-</td><td>10.8</td><td>2.2</td><td>5.7</td><td>-</td><td>.8</td><td>3.3</td><td>2.7</td><td>-</td><td>.8</td><td>.2</td><td>1.2</td><td>6.5</td><td>562.4</td></tr><tr><td>Nov.....</td><td>99.1</td><td>-</td><td>27.2</td><td>1.1</td><td>7.2</td><td>3.5</td><td>5.8</td><td>-</td><td>3.8</td><td>7.9</td><td>2.9</td><td>-</td><td>.5</td><td>.4</td><td>2.9</td><td>15.5</td><td>177.8</td></tr><tr><td>Dec.....</td><td>101.7</td><td>37.4</td><td>46.2</td><td>-</td><td>.7</td><td>2.6</td><td>14.4</td><td>2.0</td><td>1.8</td><td>6.8</td><td>2.7</td><td>2.1</td><td>1.0</td><td>.4</td><td>2.0</td><td>18.7</td><td>240.5</td></tr><tr><td>1939-Jan.....</td><td>52.1</td><td>1.4</td><td>33.7</td><td>-1.1</td><td>10.8</td><td>2.3</td><td>37.8</td><td>1.7</td><td>-</td><td>6.6</td><td>2.8</td><td>2.1</td><td>.6</td><td>.4</td><td>2.3</td><td>1.8</td><td>156.3</td></tr><tr><td>Feb.....</td><td>165.4</td><td>1.4</td><td>29.3</td><td>-</td><td>4.2</td><td>2.5</td><td>5.4</td><td>-</td><td>.2</td><td>4.0</td><td>2.7</td><td>-</td><td>.5</td><td>.3</td><td>2.4</td><td>5.0</td><td>223.3</td></tr><tr><td>Mar.....</td><td>250.0</td><td>.8</td><td>27.1</td><td>8.2</td><td>6.9</td><td>3.8</td><td>11.4</td><td>37.2</td><td>3.7</td><td>4.3</td><td>3.3</td><td>4.2</td><td>1.5</td><td>.3</td><td>1.3</td><td>1.3</td><td>365.4</td></tr></table>
1/ Including Hong Kong. Source: Bureau of Foreign and Domestic Commerce, U.S. Department of Commerce.
Treasury Gold Receipts
(In millions of dollars)
<table><tr><th></th><th>Newly-mined domestic gold</th><th>Gold received by importation or re-leased for exportation (-) 1/</th><th>Miscellaneous 2/</th><th>Total</th></tr><tr><td>1937 - Jan.-Mar.........</td><td>32.93</td><td>277.22</td><td>6.00</td><td>316.15</td></tr><tr><td>Apr.-June.........</td><td>36.46</td><td>691.37</td><td>16.61</td><td>744.44</td></tr><tr><td>July-Sept.........</td><td>45.85</td><td>371.80</td><td>4.40</td><td>422.05</td></tr><tr><td>Oct.-Dec.........</td><td>45.61</td><td>-30.80</td><td>4.95</td><td>19.76</td></tr><tr><td>1938 - Jan.-Mar.........</td><td>38.23</td><td>-7.67</td><td>3.83</td><td>34.39</td></tr><tr><td>Apr.-June.........</td><td>40.42</td><td>124.59</td><td>3.54</td><td>168.55</td></tr><tr><td>July-Sept.........</td><td>47.22</td><td>743.96</td><td>5.25</td><td>796.43</td></tr><tr><td>Oct.-Dec.........</td><td>49.12</td><td>701.00</td><td>1.75</td><td>751.87</td></tr><tr><td>1939 - Jan.-Mar.........</td><td>44.40</td><td>699.30</td><td>3.31</td><td>747.01</td></tr></table>
1/ Includes gold released from earmark or gold placed under earmark.
2/ Domestic coin, secondary gold, etc.
Monetary Stocks of Gold and Silver
In millions of dollars - on basic, daily Treasury statements, revised
<table><tr><th>End of fiscal year or month</th><th>Gold ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of Silver to Gold end Silver in Monetary Stocks</th></tr><tr><td>1934</td><td>7,856.2</td><td>898.2</td><td>10.3</td></tr><tr><td>1935</td><td>9,115.6</td><td>1,463.1</td><td>13.8</td></tr><tr><td>1936</td><td>10,608.4</td><td>2,249.5</td><td>17.5</td></tr><tr><td>1937</td><td>12,318.3</td><td>2,542.1</td><td>17.2</td></tr><tr><td>1938-Mar</td><td>12,794.7</td><td>2,952.7</td><td>18.8</td></tr><tr><td>Apr</td><td>12,858.9</td><td>2,990.5</td><td>18.9</td></tr><tr><td>May</td><td>12,918.8</td><td>3,031.1</td><td>19.0</td></tr><tr><td>June</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>July</td><td>13,017.4</td><td>3,102.9</td><td>19.2</td></tr><tr><td>Aug</td><td>13,135.7</td><td>3,129.4</td><td>19.2</td></tr><tr><td>Sep</td><td>13,759.6</td><td>3,163.0</td><td>18.7</td></tr><tr><td>Oct</td><td>14,064.5</td><td>3,202.5</td><td>18.5</td></tr><tr><td>Nov</td><td>14,312.1</td><td>3,265.2</td><td>18.6</td></tr><tr><td>Dec</td><td>14,511.6</td><td>3,346.8</td><td>18.7</td></tr><tr><td>1939-Jan</td><td>14,681.7</td><td>3,404.8</td><td>18.8</td></tr><tr><td>Feb</td><td>14,874.4</td><td>3,439.4</td><td>18.8</td></tr><tr><td>Mar</td><td>15,258.2</td><td>3,470.6</td><td>18.5</td></tr></table>
Preliminary
MONETARY STOCKS OF GOLD AND SILVER IN U.S.
Gold per Ounce:-Through Jan. '34=$20.67 Thereafter=$35.00 Silver per Ounce $1.29
36
37
Components of Silver Monetary Stock
(In millions of dollars - on basis of revised daily Treasury statements)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="4">Silver held in Treasury</th><th colspan="2">Silver outside Treasury</th><th rowspan="2">Total Silver at $1.29 per ounce</th></tr><tr><th colspan="2">Securing silver certificates 1/</th><th colspan="2">In General Fund</th><th colspan="2"></th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Sub-sidiary coin 2/</th><th>Bullion for recoinage 2/</th><th>Bullion at cost</th><th>Silver dollar 1/</th><th>Sub-sidiary coin 2/</th></tr><tr><td>1934</td><td>211.6</td><td>508.4</td><td>4.2</td><td>8.8</td><td>89.3</td><td>35.2</td><td>305.3</td><td>1,279.7</td></tr><tr><td>1935</td><td>576.9</td><td>508.7</td><td>4.2</td><td>.2</td><td>262.7</td><td>38.4</td><td>323.5</td><td>1,970.1</td></tr><tr><td>1936</td><td>775.9</td><td>505.7</td><td>5.7</td><td>.3</td><td>347.7</td><td>41.3</td><td>350.4</td><td>2,402.3</td></tr><tr><td>1937</td><td>938.8</td><td>503.7</td><td>5.4</td><td>~</td><td>428.6</td><td>43.3</td><td>366.9</td><td>2,806.5</td></tr><tr><td>1938-Mar.</td><td>992.9</td><td>503.8</td><td>8.6</td><td>.4</td><td>458.0</td><td>43.3</td><td>365.4</td><td>2,952.7</td></tr><tr><td>Apr.</td><td>1,007.3</td><td>503.9</td><td>9.1</td><td>.6</td><td>465.5</td><td>43.2</td><td>364.8</td><td>2,990.5</td></tr><tr><td>May.</td><td>1,022.9</td><td>503.7</td><td>9.4</td><td>1.2</td><td>473.0</td><td>43.3</td><td>364.3</td><td>3,031.1</td></tr><tr><td>June.</td><td>1,037.2</td><td>503.6</td><td>8.7</td><td>1.3</td><td>479.6</td><td>43.4</td><td>364.7</td><td>3,066.4</td></tr><tr><td>July.</td><td>1,048.9</td><td>503.6</td><td>8.5</td><td>1.2</td><td>488.0</td><td>43.5</td><td>365.0</td><td>3,102.9</td></tr><tr><td>Aug.</td><td>1,060.6</td><td>503.6</td><td>9.8</td><td>.3</td><td>492.3</td><td>43.5</td><td>365.1</td><td>3,129.4</td></tr><tr><td>Sept.</td><td>1,071.4</td><td>503.4</td><td>8.9</td><td>.3</td><td>499.4</td><td>43.7</td><td>366.8</td><td>3,163.0</td></tr><tr><td>Oct.</td><td>1,065.9</td><td>503.2</td><td>7.7</td><td>.4</td><td>506.7</td><td>43.9</td><td>368.1</td><td>3,202.5</td></tr><tr><td>Nov.</td><td>1,110.1</td><td>502.9</td><td>5.5</td><td>.5</td><td>519.2</td><td>44.2</td><td>370.2</td><td>3,265.2</td></tr><tr><td>Dec.</td><td>1,137.6</td><td>502.7</td><td>3.5</td><td>.2</td><td>535.3</td><td>44.4</td><td>372.8</td><td>3,346.8</td></tr><tr><td>1939-Jan.</td><td>1,157.8</td><td>502.7</td><td>4.1</td><td>.4</td><td>547.2</td><td>44.3</td><td>372.0</td><td>3,404.8</td></tr><tr><td>Feb.</td><td>1,169.7</td><td>502.7</td><td>4.1</td><td>.3</td><td>554.2</td><td>44.4</td><td>372.0</td><td>3,439.4</td></tr><tr><td>Mar.</td><td>1,185.6</td><td>502.7</td><td>4.5</td><td>.3</td><td>560.4</td><td>44.4</td><td>372.0</td><td>3,470.6</td></tr></table>
1/ Valued at $1.29+ per ounce.
2/ Valued at $1.38+ per ounce.
* Preliminary
Silver of Specified Classifications Acquired by Mints and Assay Offices
(In million)
<table><tr><th>Calendar year or month</th><th colspan="2">Newly mined domestic (Exec. Proc. 12/21/33) 1/</th><th colspan="2">National- ized (Exec. Proc. 8/9/34) 2/</th><th colspan="2">Foreign (S11- ver Pur. Act. 6/19/34) 3/</th><th colspan="2">Total</th></tr><tr><th></th><th>Own- cee</th><th>Dol- lars</th><th>Own- cee</th><th>Dol- lars</th><th>Own- cee</th><th>Dol- lars</th><th>Own- cee</th><th>Dol- lars</th></tr><tr><td>1934</td><td>21.8</td><td>14.1</td><td>110.6</td><td>55.3</td><td>172.5</td><td>86.5</td><td>304.9</td><td>155.9</td></tr><tr><td>1935</td><td>38.0</td><td>27.3</td><td>2.0</td><td>1.0</td><td>494.4</td><td>318.2</td><td>534.3</td><td>346.5</td></tr><tr><td>1936</td><td>61.1</td><td>47.3</td><td>4</td><td>2</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.9</td></tr><tr><td>1937</td><td>70.6</td><td>54.6</td><td>-</td><td>-</td><td>241.5</td><td>108.7</td><td>312.2</td><td>163.4</td></tr><tr><td>1938</td><td>61.6</td><td>42.2</td><td>-</td><td>-</td><td>355.4</td><td>156.9</td><td>417.1</td><td>199.1</td></tr><tr><td>1938-Mar.</td><td>4.3</td><td>3.1</td><td>-</td><td>-</td><td>27.0</td><td>12.1</td><td>31.3</td><td>15.2</td></tr><tr><td>Apr.</td><td>5.4</td><td>3.8</td><td>-</td><td>-</td><td>23.7</td><td>10.5</td><td>29.1</td><td>14.2</td></tr><tr><td>May.</td><td>5.1</td><td>3.4</td><td>-</td><td>-</td><td>26.4</td><td>11.6</td><td>31.5</td><td>15.0</td></tr><tr><td>June.</td><td>4.9</td><td>3.3</td><td>-</td><td>-</td><td>22.5</td><td>10.0</td><td>27.5</td><td>13.3</td></tr><tr><td>July.</td><td>5.8</td><td>3.8</td><td>-</td><td>-</td><td>18.6</td><td>8.2</td><td>24.4</td><td>12.0</td></tr><tr><td>Aug.</td><td>6.2</td><td>4.1</td><td>-</td><td>-</td><td>18.0</td><td>8.0</td><td>24.2</td><td>12.1</td></tr><tr><td>Sept.</td><td>3.8</td><td>2.5</td><td>-</td><td>-</td><td>22.0</td><td>9.7</td><td>25.8</td><td>12.2</td></tr><tr><td>Oct.</td><td>4.9</td><td>3.2</td><td>-</td><td>-</td><td>25.7</td><td>11.3</td><td>30.6</td><td>14.5</td></tr><tr><td>Nov.</td><td>7.9</td><td>5.4</td><td>-</td><td>-</td><td>40.7</td><td>17.7</td><td>48.6</td><td>23.1</td></tr><tr><td>Dec.</td><td>4.6</td><td>3.0</td><td>-</td><td>-</td><td>57.6</td><td>24.8</td><td>62.2</td><td>27.8</td></tr><tr><td>1939-Jan.</td><td>4.5</td><td>2.9</td><td>-</td><td>-</td><td>41.3</td><td>17.8</td><td>45.8</td><td>20.7</td></tr><tr><td>Feb.</td><td>5.1</td><td>3.3</td><td>-</td><td>-</td><td>21.2</td><td>9.1</td><td>26.3</td><td>12.4</td></tr><tr><td>Mar.</td><td>5.4</td><td>3.5</td><td>-</td><td>-</td><td>24.6</td><td>10.6</td><td>30.0</td><td>14.1</td></tr></table>
1/ Acquired at 64.54+ cents per fine ounce until April 9, 1935; at 71.11+ cents per fine ounce from that date until April 23, 1935; at 77.57+ cents from April 23, 1935 to December 31, 1937; and at 64.61+ cents per fine ounce since December 31, 1937.
2/ Acquired at 50.01 cents per fine ounce. Exec. Proc. of August 9, 1934, repealed April 28, 1938.
3/ Acquired at various prices averaging approximately 53+ cents per ounce.
Silver Production, by Leading Countries
(In thousands of fine ounces)
<table><tr><th>Calendar year or month</th><th>United States</th><th>Canada 1/</th><th>Mexico</th><th>Peru</th><th>Other America</th><th>Europe</th><th>Oceania</th><th>Japan 2/</th><th>British India</th><th>Other Asia</th><th>Africa</th><th>Total for world</th></tr><tr><td>1933</td><td>22,821</td><td>16,395</td><td>68,101</td><td>6,761</td><td>10,819</td><td>14,769</td><td>11,553</td><td>6,680</td><td>6,080</td><td>1,104</td><td>4,076</td><td>169,159</td></tr><tr><td>1934</td><td>32,487</td><td>17,565</td><td>74,145</td><td>10,381</td><td>10,091</td><td>14,891</td><td>11,257</td><td>7,863</td><td>5,818</td><td>1,178</td><td>4,722</td><td>190,398</td></tr><tr><td>1935</td><td>45,613</td><td>17,743</td><td>75,589</td><td>17,433</td><td>12,788</td><td>17,199</td><td>12,434</td><td>9,706</td><td>5,850</td><td>1,219</td><td>5,130</td><td>220,704</td></tr><tr><td>1936</td><td>63,351</td><td>19,584</td><td>77,464</td><td>19,901</td><td>16,539</td><td>19,703</td><td>13,194</td><td>11,570</td><td>5,977</td><td>1,733</td><td>4,580</td><td>253,696</td></tr><tr><td>1937</td><td>71,299</td><td>24,131</td><td>84,681</td><td>16,994</td><td>15,663</td><td>20,811</td><td>14,903</td><td>12,451</td><td>6,205</td><td>1,883</td><td>4,853</td><td>273,874</td></tr><tr><td>1938</td><td>58,736</td><td>22,445</td><td>81,017</td><td>19,356</td><td>17,340</td><td>20,355</td><td>14,767</td><td>10,175*</td><td>5,920 3/</td><td>3,535</td><td>4,783</td><td>258,429</td></tr><tr><td>1938-Feb.</td><td>5,083</td><td>1,735</td><td>7,144</td><td>1,351</td><td>1,450</td><td>1,600</td><td>1,112</td><td>820*</td><td>510</td><td>250</td><td>410</td><td>21,465</td></tr><tr><td>Mar.</td><td>5,752</td><td>1,729</td><td>8,803</td><td>1,380</td><td>1,575</td><td>1,635</td><td>1,212</td><td>820*</td><td>500</td><td>300</td><td>422</td><td>24,128</td></tr><tr><td>Apr.</td><td>5,044</td><td>1,430</td><td>7,153</td><td>1,350</td><td>1,425</td><td>1,600</td><td>1,170</td><td>840*</td><td>500</td><td>290</td><td>395</td><td>21,197</td></tr><tr><td>May</td><td>4,813</td><td>1,509</td><td>6,244</td><td>1,525</td><td>1,500</td><td>1,675</td><td>1,135</td><td>840*</td><td>495</td><td>300</td><td>404</td><td>20,440</td></tr><tr><td>June</td><td>4,679</td><td>1,603</td><td>8,417</td><td>1,300</td><td>1,400</td><td>1,675</td><td>1,361</td><td>845*</td><td>495</td><td>325</td><td>390</td><td>22,490</td></tr><tr><td>July</td><td>4,530</td><td>2,112</td><td>9,019</td><td>1,900</td><td>1,450</td><td>1,700</td><td>1,361</td><td>845*</td><td>490</td><td>275</td><td>389</td><td>24,071</td></tr><tr><td>Aug.</td><td>5,596</td><td>2,528</td><td>9,224</td><td>1,775</td><td>1,450</td><td>1,700</td><td>1,352</td><td>845*</td><td>490</td><td>265</td><td>394</td><td>25,619</td></tr><tr><td>Sept.</td><td>5,073</td><td>2,202</td><td>4,486</td><td>1,875</td><td>1,425</td><td>1,700</td><td>1,302</td><td>875*</td><td>490</td><td>250</td><td>386</td><td>20,064</td></tr><tr><td>Oct.</td><td>5,441</td><td>2,400</td><td>4,160</td><td>1,800</td><td>1,425</td><td>1,800</td><td>1,084</td><td>875*</td><td>485</td><td>300</td><td>384</td><td>20,154</td></tr><tr><td>Nov.</td><td>2,879</td><td>2,023</td><td>2,781</td><td>1,750</td><td>1,50^</td><td>1,800</td><td>1,327</td><td>875*</td><td>480</td><td>350</td><td>394</td><td>16,159</td></tr><tr><td>Dec.</td><td>4,624</td><td>1,552</td><td>4,922</td><td>1,850</td><td>1,500</td><td>1,800</td><td>1,160</td><td>875*</td><td>485</td><td>350</td><td>393</td><td>19,511</td></tr><tr><td>1939-Jan.</td><td>4,669</td><td>1,575</td><td>4,281</td><td>1,825</td><td>1,500</td><td>1,800</td><td>1,324</td><td>875*</td><td>485</td><td>370</td><td>404</td><td>19,108</td></tr><tr><td>Feb.</td><td>5,268</td><td>1,454</td><td>-</td><td>1,700</td><td>1,500</td><td>1,800</td><td>1,125</td><td>875*</td><td>485</td><td>370</td><td>390</td><td>-</td></tr></table>
1/ Includes Newfoundland.
2/ Includes Chosen and Taiwan.
3/ Burma, refined silver
* No longer reported. Estimated at about previous rate.
Sources: Annual Reports of the Director of the Mint for annual figures through 1937. Releases of American Bureau of Metal Statistics for monthly figures, and 1938 estimate.
38
Net Movement of Silver to and from the United States
(In thousands of dollars)
<table><tr><th>Year and month</th><th>United Kingdom</th><th>Other Europe</th><th>Canada</th><th>Mexico</th><th>Cuba</th><th>Chile</th><th>Peru</th><th>Other Latin America</th></tr><tr><td>1934</td><td>36,521</td><td>190</td><td>438</td><td>21,995</td><td>-3,780</td><td>1,550</td><td>3,906</td><td>381</td></tr><tr><td>1935</td><td>245,133</td><td>2,457</td><td>12,117</td><td>58,325</td><td>-5,611</td><td>2,920</td><td>10,199</td><td>-1,228</td></tr><tr><td>1936</td><td>53,393</td><td>856</td><td>5,416</td><td>29,925</td><td>-8,951</td><td>1,048</td><td>7,408</td><td>2,738</td></tr><tr><td>1937</td><td>34,120</td><td>-25</td><td>6,798</td><td>30,203</td><td>-7,451</td><td>968</td><td>6,786</td><td>611</td></tr><tr><td>1938</td><td>134,264</td><td>15,396 2/</td><td>10,915</td><td>41,715</td><td>-4,342</td><td>696</td><td>7,381</td><td>2,858</td></tr><tr><td>1938-Mar.</td><td>9,053</td><td>8</td><td>1,054</td><td>3,042</td><td>1</td><td>54</td><td>495</td><td>240</td></tr><tr><td>Apr.</td><td>9,348</td><td>16</td><td>2,162</td><td>2,740</td><td>7</td><td>41</td><td>560</td><td>290</td></tr><tr><td>May</td><td>10,010</td><td>2,158</td><td>1,470</td><td>2,710</td><td>1/</td><td>59</td><td>667</td><td>386</td></tr><tr><td>June</td><td>13,813</td><td>20</td><td>436</td><td>3,098</td><td>13</td><td>86</td><td>680</td><td>249</td></tr><tr><td>July</td><td>8,957</td><td>4,305 3/</td><td>874</td><td>2,918</td><td>6</td><td>57</td><td>519</td><td>194</td></tr><tr><td>Aug.</td><td>5</td><td>4,300 3/</td><td>988</td><td>2,600</td><td>-244</td><td>73</td><td>608</td><td>181</td></tr><tr><td>Sept.</td><td>15,301</td><td>4,300 3/</td><td>809</td><td>1,956</td><td>-1,250</td><td>30</td><td>978</td><td>173</td></tr><tr><td>Oct.</td><td>10,169</td><td>46</td><td>663</td><td>2,767</td><td>-993</td><td>46</td><td>498</td><td>312</td></tr><tr><td>Nov.</td><td>15,778</td><td>4,310 3/</td><td>708</td><td>2,635</td><td>-695</td><td>33</td><td>631</td><td>277</td></tr><tr><td>Dec.</td><td>17,075</td><td>31</td><td>742</td><td>1,876</td><td>-1,200</td><td>36</td><td>708</td><td>239</td></tr><tr><td>1939-Jan.</td><td>5,105</td><td>20</td><td>485</td><td>2,737</td><td>-1,243</td><td>45</td><td>739</td><td>219</td></tr><tr><td>Feb.</td><td>4,083</td><td>4</td><td>372</td><td>2,635</td><td>-1,093</td><td>38</td><td>491</td><td>236</td></tr><tr><td>Mar.</td><td>324</td><td>8</td><td>547</td><td>3,112</td><td>-750</td><td>42</td><td>759</td><td>284</td></tr></table>
<table><tr><th>Year and month</th><th>British India</th><th>China</th><th>Hong Kong</th><th>Japan</th><th>Other Asia</th><th>All other</th><th>Total net imports or exports (-)</th></tr><tr><td>1934</td><td>-338</td><td>21,967</td><td>2,873</td><td>303</td><td>134</td><td>34</td><td>86,174</td></tr><tr><td>1935</td><td>188</td><td>227</td><td>6,787</td><td>843</td><td>3,224</td><td>118</td><td>335,730</td></tr><tr><td>1936</td><td>3,024</td><td>69,996</td><td>3,463</td><td>2,144</td><td>342</td><td>48</td><td>170,851</td></tr><tr><td>1937</td><td>-</td><td>5,614</td><td>4</td><td>1,271</td><td>504</td><td>433</td><td>79,835</td></tr><tr><td>1938</td><td>150</td><td>-</td><td>61</td><td>2,930</td><td>10,808</td><td>617</td><td>223,449</td></tr><tr><td>1938-Mar</td><td>-</td><td>-</td><td>-</td><td>289</td><td>11</td><td>2</td><td>14,250</td></tr><tr><td>Apr</td><td>-</td><td>-</td><td>-</td><td>321</td><td>4</td><td>18</td><td>15,507</td></tr><tr><td>May</td><td>-</td><td>-</td><td>5</td><td>116</td><td>11</td><td>44</td><td>17,636</td></tr><tr><td>June</td><td>45</td><td>-</td><td>-</td><td>343</td><td>63</td><td>84</td><td>18,931</td></tr><tr><td>July</td><td>-</td><td>-</td><td>-</td><td>126</td><td>69</td><td>108</td><td>18,133</td></tr><tr><td>Aug</td><td>-</td><td>-</td><td>-</td><td>117</td><td>121</td><td>130</td><td>4,584</td></tr><tr><td>Sept</td><td>-</td><td>-</td><td>2</td><td>149</td><td>166</td><td>19</td><td>22,635</td></tr><tr><td>Oct</td><td>-</td><td>-</td><td>-</td><td>171</td><td>10,065</td><td>70</td><td>23,813</td></tr><tr><td>Nov</td><td>43</td><td>-</td><td>54</td><td>305</td><td>75</td><td>9</td><td>24,163</td></tr><tr><td>Dec</td><td>61</td><td>-</td><td>-</td><td>413</td><td>204</td><td>4</td><td>20,189</td></tr><tr><td>1939-Jan</td><td>1/</td><td>-</td><td>-</td><td>270</td><td>146</td><td>134</td><td>8,658</td></tr><tr><td>Feb</td><td>43</td><td>-</td><td>2</td><td>630</td><td>432</td><td>8</td><td>7,874</td></tr><tr><td>Mar</td><td>250</td><td>-</td><td>-</td><td>502</td><td>160</td><td>44</td><td>5,284</td></tr></table>
1/ Less than $500.
2/ Includes net import of $12,950,000 from France.
3/ Figures for July, Sept. and Nov. 1938 include net imports from France of $4,301,000, $4,300,000 and $4,301,000 respectively.
4/ Includes net import of $9,791,000 from Siam.
Source: Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.
SOURCE: Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.
Seigniorage on Silver Since January 1, 1934
(In millions of dollars - on basis of daily Treasury statements)
<table><tr><th>Cumulative from Jan. 1, 1934 to end of Calendar year or month</th><th>Seigniorage on silver and minor coins</th><th colspan="4">Sources of Seigniorage on Silver Bullion Revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund</th></tr><tr><th></th><th></th><th>Miecz silver (incl. silver bullion held June 14, 1934</th><th>Newly-mined silver (Proc. Dec. 21,1933)</th><th>Silver Pur- chase Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total Seigniorage on silver revalued</th></tr><tr><td>1934</td><td>4.5</td><td>18.7</td><td>.4</td><td>51.1</td><td>28.5</td><td>128.7</td><td>137.5</td></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>226.2</td><td>34.5</td><td>326.2</td><td>276.7</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>302.7</td><td>34.7</td><td>422.1</td><td>398.4</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>366.7</td><td>34.7</td><td>508.1</td><td>543.9</td></tr><tr><td>1938-Mar.</td><td>66.5</td><td>48.7</td><td>62.1</td><td>392.2</td><td>34.7</td><td>537.7</td><td>604.5</td></tr><tr><td>Apr.</td><td>66.8</td><td>48.7</td><td>63.4</td><td>398.5</td><td>34.7</td><td>545.3</td><td>620.3</td></tr><tr><td>May</td><td>67.2</td><td>48.7</td><td>65.0</td><td>405.1</td><td>34.7</td><td>553.5</td><td>637.6</td></tr><tr><td>June</td><td>67.3</td><td>48.7</td><td>66.3</td><td>411.4</td><td>34.7</td><td>561.1</td><td>652.2</td></tr><tr><td>July</td><td>67.4</td><td>48.7</td><td>67.8</td><td>416.0</td><td>34.7</td><td>567.2</td><td>668.4</td></tr><tr><td>Aug.</td><td>67.5</td><td>48.7</td><td>69.4</td><td>420.4</td><td>34.7</td><td>573.2</td><td>678.5</td></tr><tr><td>Sept.</td><td>68.0</td><td>48.7</td><td>70.1</td><td>425.7</td><td>34.7</td><td>579.2</td><td>693.4</td></tr><tr><td>Oct.</td><td>68.5</td><td>48.7</td><td>71.6</td><td>432.6</td><td>34.7</td><td>587.6</td><td>710.0</td></tr><tr><td>Nov.</td><td>68.9</td><td>48.7</td><td>73.8</td><td>443.0</td><td>34.7</td><td>600.2</td><td>737.0</td></tr><tr><td>Dec.</td><td>69.5</td><td>48.7</td><td>74.9</td><td>457.7</td><td>34.7</td><td>616.0</td><td>773.9</td></tr><tr><td>1939-Jan.</td><td>69.9</td><td>48.7</td><td>76.0</td><td>468.0</td><td>34.7</td><td>627.4</td><td>790.0</td></tr><tr><td>Feb.</td><td>70.2</td><td>48.7</td><td>77.4</td><td>473.1</td><td>34.7</td><td>633.9</td><td>809.8</td></tr><tr><td>Mar.</td><td>70.7</td><td>48.7</td><td>79.0</td><td>480.3</td><td>34.7</td><td>642.7</td><td>825.1</td></tr></table>
1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
39
Value of Selected Currencies in Terms of Gold
1928 = 100
<table><tr><th></th><th>United States</th><th>United Kingdom</th><th>France</th><th>Nether-land</th><th>Switzer-land</th><th>Belgium</th><th>Japan</th><th>Italy</th><th>Chine 1/</th></tr><tr><td>1931-Dec.</td><td>100</td><td>69</td><td>100</td><td>100</td><td>101</td><td>100</td><td>87</td><td>97</td><td>53</td></tr><tr><td>1932-Dec.</td><td>100</td><td>67</td><td>100</td><td>100</td><td>100</td><td>100</td><td>42</td><td>97</td><td>43</td></tr><tr><td>1933-Dec.</td><td>64</td><td>67</td><td>100</td><td>100</td><td>100</td><td>100</td><td>39</td><td>100</td><td>47</td></tr><tr><td>1934-Dec.</td><td>59</td><td>60</td><td>100</td><td>100</td><td>100</td><td>100</td><td>34</td><td>96</td><td>45</td></tr><tr><td>1935-Dec.</td><td>59</td><td>60</td><td>100</td><td>100</td><td>100</td><td>72</td><td>34</td><td>91</td><td>39</td></tr><tr><td>1936-Dec.</td><td>59</td><td>60</td><td>70</td><td>80</td><td>70</td><td>72</td><td>34</td><td>59</td><td>39</td></tr><tr><td>1937-Dec.</td><td>59</td><td>61</td><td>51</td><td>82</td><td>71</td><td>72</td><td>34</td><td>59</td><td>39</td></tr><tr><td>1938-Mar.</td><td>59</td><td>60</td><td>47</td><td>82</td><td>71</td><td>72</td><td>34</td><td>59</td><td>37</td></tr><tr><td>Apr.</td><td>59</td><td>60</td><td>47</td><td>82</td><td>70</td><td>72</td><td>34</td><td>59</td><td>35</td></tr><tr><td>May.</td><td>59</td><td>60</td><td>42</td><td>81</td><td>70</td><td>72</td><td>34</td><td>59</td><td>31</td></tr><tr><td>June.</td><td>59</td><td>60</td><td>42</td><td>81</td><td>70</td><td>72</td><td>34</td><td>59</td><td>25</td></tr><tr><td>July</td><td>59</td><td>60</td><td>42</td><td>81</td><td>70</td><td>72</td><td>34</td><td>59</td><td>24</td></tr><tr><td>Aug.</td><td>59</td><td>59</td><td>41</td><td>80</td><td>70</td><td>72</td><td>34</td><td>59</td><td>22</td></tr><tr><td>Sept.</td><td>59</td><td>58</td><td>41</td><td>79</td><td>69</td><td>72</td><td>33</td><td>59</td><td>22</td></tr><tr><td>Oct.</td><td>59</td><td>58</td><td>40</td><td>80</td><td>70</td><td>72</td><td>33</td><td>59</td><td>21</td></tr><tr><td>Nov.</td><td>59</td><td>57</td><td>40</td><td>80</td><td>69</td><td>72</td><td>33</td><td>59</td><td>21</td></tr><tr><td>Dec.</td><td>59</td><td>57</td><td>40</td><td>80</td><td>69</td><td>72</td><td>32</td><td>59</td><td>21</td></tr><tr><td>1939-Jan.</td><td>59</td><td>57</td><td>40</td><td>80</td><td>69</td><td>72</td><td>32</td><td>59</td><td>21</td></tr><tr><td>Feb.</td><td>59</td><td>57</td><td>40</td><td>79</td><td>69</td><td>72</td><td>32</td><td>59</td><td>21</td></tr><tr><td>Mar.</td><td>59</td><td>57</td><td>40</td><td>78</td><td>69</td><td>71</td><td>32</td><td>59</td><td>21</td></tr></table>
Note: Monthly average of daily quotations. 1/ Average exchange rate for January 1928 = 100.
Indexes of Prices of 40 Foreign Currencies in New York
1935 =100
<table><tr><th></th><th>"Un-weighted" (i.e. equal weights)</th><th>Weighted by U. S. exports</th><th>Weighted by U. S. imports</th><th>Weighted according to total foreign trade of each country included</th></tr><tr><td>1935</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936</td><td>97</td><td>99</td><td>99</td><td>98</td></tr><tr><td>1937</td><td>91</td><td>94</td><td>96</td><td>92</td></tr><tr><td>1938</td><td>88</td><td>91</td><td>93</td><td>88</td></tr><tr><td>1938-Mar.</td><td>90</td><td>93</td><td>95</td><td>91</td></tr><tr><td>Apr.</td><td>89</td><td>93</td><td>94</td><td>90</td></tr><tr><td>May</td><td>89</td><td>92</td><td>94</td><td>89</td></tr><tr><td>June</td><td>88</td><td>92</td><td>93</td><td>88</td></tr><tr><td>July</td><td>88</td><td>91</td><td>93</td><td>87</td></tr><tr><td>Aug.</td><td>87</td><td>91</td><td>92</td><td>87</td></tr><tr><td>Sept.</td><td>86</td><td>90</td><td>91</td><td>86</td></tr><tr><td>Oct.</td><td>86</td><td>89</td><td>91</td><td>85</td></tr><tr><td>Nov.</td><td>85</td><td>89</td><td>90</td><td>85</td></tr><tr><td>Dec.</td><td>85</td><td>88</td><td>90</td><td>84</td></tr><tr><td>1939-Jan.</td><td>85</td><td>88</td><td>90</td><td>84</td></tr><tr><td>Feb.</td><td>86</td><td>90</td><td>91</td><td>85</td></tr><tr><td>Mar.</td><td>86</td><td>90</td><td>91</td><td>85</td></tr></table>
Indexes of Prices of 40 Foreign Currencies in New York, London, Paris and Tokyo
1935 = 100
<table><tr><th></th><th colspan="4">"Unweighted" (i.e. equal weights)</th><th colspan="4">Weighted according to total foreign trade of each country included in the index</th></tr><tr><th></th><th>New York</th><th>London</th><th>Paris</th><th>Tokyo</th><th>New York</th><th>London</th><th>Paris</th><th>Tokyo</th></tr><tr><td>1935......</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936......</td><td>97</td><td>96</td><td>105</td><td>96</td><td>98</td><td>96</td><td>107</td><td>97</td></tr><tr><td>1937......</td><td>91</td><td>90</td><td>150</td><td>91</td><td>92</td><td>91</td><td>156</td><td>93</td></tr><tr><td>1938......</td><td>88</td><td>88</td><td>204</td><td>88</td><td>88</td><td>88</td><td>212</td><td>90</td></tr><tr><td>1938-Mar....</td><td>90</td><td>88</td><td>192</td><td>89</td><td>91</td><td>88</td><td>201</td><td>91</td></tr><tr><td>Apr......</td><td>89</td><td>88</td><td>193</td><td>88</td><td>90</td><td>87</td><td>200</td><td>90</td></tr><tr><td>May......</td><td>89</td><td>87</td><td>211</td><td>88</td><td>89</td><td>87</td><td>219</td><td>89</td></tr><tr><td>June......</td><td>88</td><td>87</td><td>212</td><td>87</td><td>88</td><td>86</td><td>220</td><td>88</td></tr><tr><td>July......</td><td>88</td><td>87</td><td>212</td><td>87</td><td>87</td><td>86</td><td>220</td><td>88</td></tr><tr><td>Aug......</td><td>87</td><td>87</td><td>213</td><td>88</td><td>87</td><td>86</td><td>221</td><td>89</td></tr><tr><td>Sept......</td><td>86</td><td>88</td><td>214</td><td>88</td><td>86</td><td>87</td><td>222</td><td>89</td></tr><tr><td>Oct......</td><td>86</td><td>88</td><td>216</td><td>89</td><td>85</td><td>87</td><td>224</td><td>90</td></tr><tr><td>Nov......</td><td>85</td><td>89</td><td>217</td><td>89</td><td>85</td><td>87</td><td>225</td><td>90</td></tr><tr><td>Dec......</td><td>85</td><td>89</td><td>216</td><td>90</td><td>84</td><td>89</td><td>225</td><td>91</td></tr><tr><td>1939-Jan....</td><td>85</td><td>89</td><td>216</td><td>89</td><td>84</td><td>88</td><td>223</td><td>90</td></tr><tr><td>Feb......</td><td>86</td><td>90 1/2</td><td>219 1/2</td><td>91 1/2</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>Mar......</td><td>86</td><td>89</td><td>217</td><td>90</td><td>85</td><td>89</td><td>225</td><td>91</td></tr></table>
1/ Revised
40
Ratios of Index of Wholesale Prices in 39 Countries to Index of Wholesale Prices in the United States
Ratios of Index of Wholesale Prices in 39 Countries to Index of Wholesale Prices in the United States, the United Kingdom, France, and Japan
1935 = 100
1935 = 100
<table><tr><th></th><th>"Un-weighted" (i.e. equal weights)</th><th>Weighted by U.S. exports</th><th>Weighted by U.S. imports</th><th>Weighted according to total foreign trade of each country included</th></tr><tr><td>1935</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936</td><td>104</td><td>105</td><td>105</td><td>105</td></tr><tr><td>1937</td><td>111</td><td>114</td><td>114</td><td>114</td></tr><tr><td>1938*</td><td>122</td><td>124</td><td>123</td><td>124</td></tr><tr><td>1938-Jan.</td><td>120</td><td>123</td><td>122</td><td>123</td></tr><tr><td>Feb.</td><td>121</td><td>124</td><td>123</td><td>124</td></tr><tr><td>Mar.</td><td>120</td><td>124</td><td>123</td><td>124</td></tr><tr><td>Apr.</td><td>122</td><td>125</td><td>124</td><td>125</td></tr><tr><td>May</td><td>123</td><td>125</td><td>124</td><td>126</td></tr><tr><td>June</td><td>122</td><td>125</td><td>124</td><td>126</td></tr><tr><td>July</td><td>121</td><td>124</td><td>123</td><td>125</td></tr><tr><td>Aug.</td><td>122</td><td>124</td><td>123</td><td>126</td></tr><tr><td>Sept.</td><td>122</td><td>123</td><td>122 1/2</td><td>125 1/2</td></tr><tr><td>Oct.</td><td>124</td><td>125</td><td>124</td><td>127 1/2</td></tr><tr><td>Nov.</td><td>124</td><td>125</td><td>124</td><td>127 1/2</td></tr><tr><td>Dec.</td><td>125 1/2</td><td>125</td><td>125 1/2</td><td>127</td></tr><tr><td>1939-Jan.*</td><td>125</td><td>126</td><td>126</td><td>128</td></tr></table>
<table><tr><th rowspan="2"></th><th colspan="4">"Unweighted" (i.e. equal weights)</th><th colspan="4">Weighted according to total foreign trade of each country included in the index</th></tr><tr><th>United States</th><th>United Kingdom</th><th>France</th><th>Japan</th><th>United States</th><th>United Kingdom</th><th>France</th><th>Japan</th></tr><tr><td>1935......</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936......</td><td>104</td><td>99</td><td>87</td><td>99</td><td>105</td><td>99</td><td>86</td><td>99</td></tr><tr><td>1937......</td><td>111</td><td>98</td><td>69</td><td>93</td><td>114</td><td>99</td><td>69</td><td>94</td></tr><tr><td>1938*</td><td>122</td><td>105</td><td>61</td><td>88</td><td>124</td><td>105</td><td>59</td><td>87</td></tr><tr><td>1938-Jan....</td><td>120</td><td>100</td><td>63</td><td>91</td><td>123</td><td>101</td><td>62</td><td>92</td></tr><tr><td>Feb......</td><td>121</td><td>101</td><td>63</td><td>89</td><td>124</td><td>102</td><td>63</td><td>90</td></tr><tr><td>Mar......</td><td>120</td><td>102</td><td>63</td><td>88</td><td>124</td><td>104</td><td>62</td><td>89</td></tr><tr><td>Apr......</td><td>122</td><td>103</td><td>62</td><td>90</td><td>125</td><td>105</td><td>61</td><td>90</td></tr><tr><td>May......</td><td>123</td><td>104</td><td>61</td><td>89</td><td>126</td><td>106</td><td>60</td><td>89</td></tr><tr><td>June.....</td><td>122</td><td>105</td><td>60</td><td>87</td><td>126</td><td>107</td><td>59</td><td>87</td></tr><tr><td>July.....</td><td>121</td><td>105</td><td>61</td><td>86</td><td>125</td><td>107</td><td>60</td><td>87</td></tr><tr><td>Aug.....</td><td>122</td><td>106</td><td>61</td><td>87</td><td>126</td><td>108</td><td>60</td><td>88</td></tr><tr><td>Sept.....</td><td>122</td><td>108</td><td>61</td><td>87 1/2</td><td>125 1/2</td><td>110</td><td>59 1/2</td><td>88</td></tr><tr><td>Oct.....</td><td>124</td><td>107 1/2</td><td>60</td><td>87 1/2</td><td>127 1/2</td><td>109 1/2</td><td>58 1/2</td><td>88</td></tr><tr><td>Nov.....</td><td>124</td><td>108</td><td>59</td><td>87</td><td>127</td><td>110 1/2</td><td>57 1/2</td><td>87</td></tr><tr><td>Dec.....</td><td>125 1/2</td><td>108 1/2</td><td>58</td><td>86 1/2</td><td>127</td><td>109 1/2</td><td>55</td><td>86</td></tr><tr><td>1939-Jan.*</td><td>125</td><td>110</td><td>58</td><td>85</td><td>128</td><td>111</td><td>55</td><td>85</td></tr></table>
Reviseed Preliminary
1/ Revised Preliminary
Ratios of Index of Export Prices in 8 Countries to Index of Export Prices in the United States
Ratios of Index of Export Prices in 8 Countries to Index of Export Prices in the United States, the United Kingdom, France and Japan
1935 = 100
1935 = 100
<table><tr><th></th><th>"Un-weighted" (i.e. equal weights)</th><th>Weighted by U.S. exports</th><th>Weighted by U.S. imports</th><th>Weighted according to total foreign trade of each country included</th></tr><tr><td>1935......</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936......</td><td>106</td><td>104</td><td>104</td><td>105</td></tr><tr><td>1937......</td><td>120</td><td>114</td><td>116</td><td>116</td></tr><tr><td>1938-Jan....</td><td>127</td><td>122</td><td>123</td><td>125</td></tr><tr><td>Feb......</td><td>123</td><td>120</td><td>120</td><td>123</td></tr><tr><td>Mar......</td><td>124</td><td>121</td><td>122</td><td>125</td></tr><tr><td>Apr......</td><td>125</td><td>122</td><td>122</td><td>125</td></tr><tr><td>May......</td><td>128</td><td>123</td><td>123</td><td>128</td></tr><tr><td>June....</td><td>129</td><td>123</td><td>122</td><td>128</td></tr><tr><td>July....</td><td>129</td><td>123</td><td>122</td><td>129</td></tr><tr><td>Aug.....</td><td>127</td><td>120</td><td>118</td><td>127</td></tr><tr><td>Sept....</td><td>127</td><td>118</td><td>115</td><td>127</td></tr><tr><td>Oct.....</td><td>129</td><td>121</td><td>118</td><td>129</td></tr><tr><td>Nov.....</td><td>130</td><td>120</td><td>116</td><td>130</td></tr><tr><td>Dec.....</td><td>129</td><td>118</td><td>114</td><td>129</td></tr></table>
<table><tr><th rowspan="2"></th><th colspan="4">*Unweighted* (i.e. equal weights)</th><th colspan="4">Weighted according to total foreign trade of each country included in the index</th></tr><tr><th>United States</th><th>United Kingdom</th><th>France</th><th>Japan</th><th>United States</th><th>United Kingdom</th><th>France</th><th>Japan</th></tr><tr><td>1935</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>1936</td><td>106</td><td>105</td><td>89</td><td>109</td><td>105</td><td>105</td><td>86</td><td>107</td></tr><tr><td>1937</td><td>120</td><td>117</td><td>78</td><td>115</td><td>116</td><td>114</td><td>73</td><td>108</td></tr><tr><td>1938-Jan.</td><td>127</td><td>113</td><td>70</td><td>119</td><td>125</td><td>112</td><td>65</td><td>114</td></tr><tr><td>Feb.</td><td>123</td><td>112</td><td>69</td><td>118</td><td>123</td><td>112</td><td>65</td><td>114</td></tr><tr><td>Mar.</td><td>124</td><td>111</td><td>68</td><td>113</td><td>125</td><td>111</td><td>64</td><td>109</td></tr><tr><td>Apr.</td><td>125</td><td>113</td><td>67</td><td>113</td><td>125</td><td>112</td><td>63</td><td>109</td></tr><tr><td>May.</td><td>128</td><td>113</td><td>64</td><td>113</td><td>128</td><td>112</td><td>60</td><td>109</td></tr><tr><td>June.</td><td>129</td><td>114</td><td>64</td><td>109</td><td>128</td><td>119</td><td>60</td><td>104</td></tr><tr><td>July.</td><td>129</td><td>112</td><td>65</td><td>107</td><td>129</td><td>111</td><td>61</td><td>103</td></tr><tr><td>Aug.</td><td>127</td><td>111</td><td>65</td><td>109</td><td>127</td><td>109</td><td>61</td><td>105</td></tr><tr><td>Sept.</td><td>127</td><td>110</td><td>65</td><td>110</td><td>127</td><td>109</td><td>61</td><td>106</td></tr><tr><td>Oct.</td><td>129</td><td>111</td><td>64</td><td>104</td><td>129</td><td>110</td><td>60</td><td>100</td></tr><tr><td>Nov.</td><td>130</td><td>112</td><td>63</td><td>-</td><td>130</td><td>110</td><td>59</td><td>-</td></tr><tr><td>Dec.</td><td>129</td><td>112</td><td>61</td><td>-</td><td>129</td><td>112</td><td>57</td><td>-</td></tr></table>
Preliminary
MISCELLANEOUS
-41-
42
Commodities Imported under Quota Provisions
Preliminary figures for January, February and March, 193
<table><tr><th>Commodity</th><th>Quota period</th><th>Unit of quantity</th><th>Established quote</th><th colspan="3">Quantity Imported</th></tr><tr><th></th><th></th><th></th><th></th><th>In January 1/</th><th>In February 1/</th><th>In March</th></tr><tr><td>Cattle weighing under 200 pounds each</td><td>Calendar Year</td><td>Head</td><td>100,000</td><td>5,723</td><td>9,522</td><td>16,750</td></tr><tr><td>Cattle weighing 700 pounds or more each, other than dairy cows</td><td>Quarter Year Calendar Year</td><td>Head Head</td><td>60,000) 225,000)</td><td>57,575</td><td>5,651 2/</td><td>703</td></tr><tr><td>Whole milk, fresh or sour</td><td>Calendar Year</td><td>Gallon</td><td>3,000,000</td><td>407</td><td>209</td><td>338</td></tr><tr><td>Cream, fresh or sour</td><td>Calendar Year</td><td>Gallon</td><td>1,500,000</td><td>86</td><td>13</td><td>133</td></tr><tr><td>Fish, fresh or frozen, filleted, etc., Cod, Haddock, Hake, Pollock, Cusk and Hooefish</td><td>Calendar Year</td><td>Pound</td><td>15,000,000</td><td>1,064,796</td><td>1,118,244</td><td>950,582</td></tr><tr><td>White or Irish potatoes:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Certified seed</td><td>12 months from Sept. 15, 1938</td><td>Pound</td><td>90,000,000</td><td>1,756,703</td><td>1,348,404</td><td>33,483,225</td></tr><tr><td>Other</td><td>12 months from Sept. 15, 1938</td><td>Pound</td><td>60,000,000</td><td>2,062</td><td>52,328</td><td>652,940</td></tr><tr><td>Red cedar shingles</td><td>1st 6 months Calendar Year</td><td>Square</td><td>1,051,168</td><td>335,355</td><td>228,166</td><td>264,688</td></tr><tr><td>Molasses and sugar syrups, n.s.p.f., which contain soluble nonsugar solids, (excluding any foreign substance that may have been added) equal to more than 6% of the total soluble solids</td><td>Calendar Year</td><td>Gallon</td><td>1,500,000</td><td>834,284</td><td>14,854</td><td>4,862</td></tr><tr><td>Products of Philippine Islands:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Coconut oil</td><td>Calendar Year</td><td>Pound</td><td>448,000,000</td><td>26,885,197</td><td>20,354,521</td><td>40,765,324</td></tr><tr><td>Refined sugar</td><td>Calendar Year</td><td>Pound</td><td>112,000,000</td><td>1,198,779</td><td>8,991,734</td><td>4,921,886</td></tr><tr><td>Unrefined sugar</td><td>Calendar Year</td><td>Pound</td><td>1,792,000,000</td><td>30,341,856</td><td>139,357,404</td><td>169,111,234</td></tr><tr><td>Cordage</td><td>12 months from May 1, 1938</td><td>Pound</td><td>6,000,000</td><td>526,853</td><td>1,016,442</td><td>1,044,939</td></tr></table>
1/ Partially revised.
2/ The tariff rate quota on imports of this class of cattle for the first quarter of the calendar year was filled on February 2, 1939
43
Summary of Criminal Cases in the United States District Courts
Alcohol Tax, Customs, Narcotics, Secret Service and Internal Revenue 1/ for the month of February 1939
INVENTORY OF CASES
<table><tr><th>Bureau</th><th>Cases pending first of month</th><th>New cases</th><th>Cases closed</th><th>Cases pending end of month</th><th>Net change in pending cases</th></tr><tr><td>Total......</td><td>20,564</td><td>3,106</td><td>2,354</td><td>21,316</td><td>+752</td></tr><tr><td>Alcohol Tax.</td><td>16,432</td><td>2,230</td><td>1,638</td><td>17,024</td><td>+592</td></tr><tr><td>Customs....</td><td>374</td><td>40</td><td>62</td><td>352</td><td>-22</td></tr><tr><td>Narcotics...</td><td>2,321</td><td>452</td><td>343</td><td>2,430</td><td>+109</td></tr><tr><td>Secret</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Service...</td><td>1,066</td><td>323</td><td>298</td><td>1,091</td><td>+25</td></tr><tr><td>Internal Revenue...</td><td>371</td><td>61</td><td>13</td><td>419</td><td>+48</td></tr></table>
DISPOSITIONS
<table><tr><th>Bureau</th><th>Number cases closed</th><th>Number cases transferred 2/</th><th colspan="4">Percent released</th><th colspan="3">Percent convicted</th></tr><tr><th></th><th></th><th></th><th>Before indict.</th><th>After indict.</th><th>Acquita</th><th>Total</th><th>Found guilty</th><th>Plead guilty</th><th>Total</th></tr><tr><td>Total......</td><td>2,354</td><td>97</td><td>25%</td><td>9%</td><td>4%</td><td>38%</td><td>6%</td><td>56%</td><td>62%</td></tr><tr><td>Alcohol Tax.</td><td>1,638</td><td>42</td><td>29%</td><td>9%</td><td>4%</td><td>42%</td><td>7%</td><td>51%</td><td>58%</td></tr><tr><td>Customs.....</td><td>62</td><td>-</td><td>5%</td><td>59%</td><td>5%</td><td>69%</td><td>3%</td><td>28%</td><td>31%</td></tr><tr><td>Narcotics 3/ Secret</td><td>343</td><td>21</td><td>21%</td><td>8%</td><td>4%</td><td>33%</td><td>8%</td><td>59%</td><td>67%</td></tr><tr><td>Service.... Internal Revenue...</td><td>298</td><td>34</td><td>7%</td><td>1%</td><td>2%</td><td>10%</td><td>2%</td><td>88%</td><td>90%</td></tr><tr><td></td><td>13</td><td>-</td><td>4/</td><td>4/</td><td>4/</td><td>4/</td><td>4/</td><td>4/</td><td>4/</td></tr></table>
SENTENCES
<table><tr><th>Bureau</th><th>Total convictions</th><th>Percent imprisoned</th><th>Percent prosecuted</th><th>Percent fined</th><th>Average daily imprisonment</th><th>Average fine (dollars)</th><th>Total fines (dollars)</th></tr><tr><td>Total......</td><td>1,379</td><td>67%</td><td>32%</td><td>33%</td><td>358</td><td>413</td><td>188,735</td></tr><tr><td>Alcohol Tax.</td><td>923</td><td>63%</td><td>30%</td><td>36%</td><td>220</td><td>471</td><td>156,466</td></tr><tr><td>Custome.....</td><td>19</td><td>63%</td><td>21%</td><td>63%</td><td>626</td><td>192</td><td>2,306</td></tr><tr><td>Narcotice... Secret</td><td>196</td><td>79%</td><td>25%</td><td>14%</td><td>663</td><td>739</td><td>20,683</td></tr><tr><td>Service....</td><td>238</td><td>71%</td><td>45%</td><td>35%</td><td>532</td><td>70</td><td>5,780</td></tr><tr><td>Internal Revenue...</td><td>3</td><td>1/1/1</td><td>1/1/1</td><td>1/1/1</td><td>608</td><td>1,750</td><td>3,500</td></tr></table>
1/ Internal revenue cases are those referred by the Penal Division to the Department of Justice with recommendation for criminal prosecution.
2/ Includes cases transferred to state, local, or other authorities for prosecution and cases closed because of duplicate prosecutions. These cases are not included in calculating percentages.
3/ Cases in which no arrests were made are not included in calculating percentages.
4/ Too few cases to show comparative percentages.
Treasury Criminal Cases, by Months
Total Alcohol Tax, Customs, Narcotics, Secret Service, Internal Revenue 1/
INVENTORY OF CASES
<table><tr><th>Date</th><th>Cases pending first of month</th><th>New cases</th><th>Cases closed</th><th>Cases pending end of month</th><th>Net change in pending cases</th></tr><tr><td>1938-Sept...</td><td>21,902</td><td>3,155</td><td>2,286</td><td>22,771</td><td>+859</td></tr><tr><td>Oct...</td><td>22,771</td><td>3,140</td><td>4,504</td><td>21,407</td><td>-1,364</td></tr><tr><td>Nov...</td><td>21,407</td><td>3,253</td><td>4,240</td><td>20,420</td><td>-987</td></tr><tr><td>Dec...</td><td>20,420</td><td>3,128</td><td>3,390</td><td>20,158</td><td>-252</td></tr><tr><td>1939-Jan...</td><td>20,158</td><td>3,465</td><td>3,059</td><td>20,564</td><td>+406</td></tr><tr><td>Feb...</td><td>20,564</td><td>3,106</td><td>2,354</td><td>21,316</td><td>+752</td></tr></table>
DISPOSITIONS
<table><tr><th rowspan="2">Date</th><th rowspan="2">Number cases closed</th><th rowspan="2">Number cases transferred 2/</th><th colspan="3">Percent released</th><th colspan="3">Percent convicted</th></tr><tr><th>Before indictment</th><th>After indictment</th><th>Acquittals</th><th>Total</th><th>Found guilty</th><th>Plead guilty</th><th>Total</th></tr><tr><td>1938-Sept...</td><td>2,286</td><td>116</td><td>31%</td><td>8%</td><td>2%</td><td>41%</td><td>4%</td><td>55%</td><td>59%</td></tr><tr><td>Oct...</td><td>4,504</td><td>182</td><td>15%</td><td>8%</td><td>3%</td><td>26%</td><td>8%</td><td>66%</td><td>74%</td></tr><tr><td>Nov...</td><td>4,240</td><td>276</td><td>16%</td><td>8%</td><td>5%</td><td>29%</td><td>8%</td><td>63%</td><td>71%</td></tr><tr><td>Dec...</td><td>3,390</td><td>177</td><td>11%</td><td>9%</td><td>4%</td><td>27%</td><td>8%</td><td>65%</td><td>73%</td></tr><tr><td>1939-Jan...</td><td>3,059</td><td>124</td><td>19%</td><td>11%</td><td>3%</td><td>33%</td><td>8%</td><td>59%</td><td>67%</td></tr><tr><td>Feb...</td><td>2,354</td><td>97</td><td>25%</td><td>9%</td><td>4%</td><td>38%</td><td>4%</td><td>56%</td><td>62%</td></tr></table>
SENTENCES
<table><tr><th>Date</th><th>Total convictions</th><th>Percent imprisoned</th><th>Percent prosecuted</th><th>Percent fined</th><th>Average days imprisonment</th><th>Average fine (dollars)</th><th>Total fines (dollars)</th></tr><tr><td>1938-Sept.</td><td>1,239</td><td>64%</td><td>30%</td><td>36%</td><td>463</td><td>480</td><td>211,851</td></tr><tr><td>Oct.</td><td>3,118</td><td>63%</td><td>35%</td><td>30%</td><td>366</td><td>475</td><td>448,492</td></tr><tr><td>Nov.</td><td>2,733</td><td>61%</td><td>35%</td><td>30%</td><td>366</td><td>377</td><td>304,367</td></tr><tr><td>Dec.</td><td>2,275</td><td>63%</td><td>35%</td><td>29%</td><td>372</td><td>452</td><td>299,098</td></tr><tr><td>1939-Jan.</td><td>1,937</td><td>60%</td><td>34%</td><td>30%</td><td>416</td><td>316</td><td>185,943</td></tr><tr><td>Feb.</td><td>1,379</td><td>67%</td><td>32%</td><td>33%</td><td>358</td><td>413</td><td>188,735</td></tr></table>
1/ Internal revenue cases are those referred by the Pecol Division to the Department of Justice with recommendation for criminal prosecution.
2/ Includes cases transferred to state, local, or other authorities for prosecution and cases closed because of duplicate prosecutions. These cases are not included in calculating percentages.
<table><tr><td>Treas.</td><td>U.S. Treasury Dept.</td></tr><tr><td>HJ</td><td>Treasury Bulletin</td></tr><tr><td>10</td><td></td></tr><tr><td>.A2</td><td></td></tr><tr><td>1939</td><td></td></tr><tr><td>c</td><td>Treas.</td></tr><tr><td>HJ</td><td>U.S. Treasury Dept.</td></tr><tr><td>10</td><td></td></tr><tr><td>.A2</td><td>Treasury Bulletin</td></tr><tr><td>1939</td><td></td></tr><tr><td>TITLE</td><td>April - June</td></tr><tr><td>c.2</td><td></td></tr><tr><th>DATE LOANED</th><th>BORROWER'S NAME</th><th>PHONE NUMBER</th></tr><tr><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td></tr></table>
U.S. TREASURY LIBRARY 1 0031885