Treas. HJ 10 A2 c.2
TREASURY DEPARTMENT LIBRARY ROOM 350
Copy 1
LIBRARY ROOM 5030
JUN 2, 1972 TREASURY DEPARTMENT
REBRINGO
To be u
in T
105.17
JAN 29 1940
NOT FOR LEAKING LIBRARY ROOM 350
BULLETIN OF THE TREASURY DEPARTMENT
JANUARY 1940
Analysis of Receipts and Disbursements Composition of the Public Debt Capital Movements and Monetary Data Other Treasury Statistics
TREASURY DEPARTMENT OFFICE OF THE SECRETARY
LIBRARY ROOM 5030 JUN 2,1 1972 TREASURY DEPARTMENT
BULLETIN OF THE TREASURY DEPARTMENT
JANUARY 1940
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
Page
Compensation of Federal, State, and Local Employees Subject to Reciprocal Income Taxation 1-3
Receipts and Expenditures
Fiscal Years 1935-40 5
Expenditures by Classes, Receipts by Sources 6-12
Social Insurance Accounts 13-14
Cash Income and Outgo 15
General Fund and Public Debt
Composition of the General Fund 18
Treasury Financing Operations 19
Composition of the Public Debt 20
Net Market Transactions of Treasury Investment Accounts 20
Holdings of Government Obligations 20
Computed Interest and Yields on Public Debt Issues 22
Government Corporations and Credit Agencies
Assets, Liabilities and Proprietary Interest 26
Sources and Uses of Funds 27-30
Issues Outstanding 31
International Capital Movements
Summary Table 33
Short-term Foreign Assets and Liabilities 35-36
Security Transactions and Brokerage Balances 37-38
Transactions in U. S. Domestic Securities 39
Foreign Exchange Transactions 41-42
Other Monetary Data
Gold and Silver 44-47
Foreign Exchange 48
Exchange Stabilization Account 49-50
Miscellaneous
Commodities Imported Under Quota 52
Law Enforcement Statistics 53
The Estimated Number and Compensation of Federal, State, and Local Officers and Employees, 1937-1938
The Public Salary Tax Act of 1939, approved April 12, 1939, subjects to the Federal income tax for all taxable years beginning after December 31, 1938, the compensation of all State and local officers and employees regardless of the nature of their office or employment; the United States consents to non-discriminatory State and local taxation of the compensation received after December 31, 1938 by all Federal officers and employees regardless of the nature of their office or employment. The Act also provides relief from Federal taxation for years prior to 1939 of certain State and local officers and employees; and likewise prohibits the collection of State and local income taxes after April 12, 1939 on the compensation of certain Federal officers and employees received in years prior to 1939.
Formerly, although the Federal income tax applied to the compensation of all Federal officers and employees, it did not apply, because of what were then thought to be constitutional prohibitions, to the compensation of most State and local employees. State income taxes, while applying generally to the compensation of State and local officers and employees, did not apply to the compensation of Federal officers and employees, also because of such constitutional prohibitions.
In connection with the consideration of this legislation by the Seventy-sixth Congress, the Treasury Department was required to assemble and analyze information concerning the number and compensation of Federal, State, and local officers and employees.
findings of this analysis are summarized in the accompanying tables.
The data for State and local governments, the Federal Judiciary, the Library of Congress, and the Federal executive agencies, except those specified below, are as of December 31, 1937. Data for the Army, the Navy, the Marine Corps, the Coast Guard, the Works Progress Administration, the Tennessee Valley Authority, the Congress, and the other legislative establishments are as of December 31, 1938. The information pertaining to Federal civilian annuitants is for June 30, 1938.
It is estimated that in 1937-1938 the active Federal, State, and local officers and employees numbered 3,788,616. Their annual compensation for the same year is estimated at $5,506,874,000. In the case of the Federal military personnel, the total compensation included allowances for quarters and subsistence. For 1938, these allowances amounted to $83,370,000. Exclusive of military allowances, the compensation of active Federal, State, and local officers and employees amounted to $5,423,504,000. In addition, $67,000,000 was paid Federal temporary and substitute postoffice employees and $130,125,000 was paid the retired and reserve Federal civilian and military personnel. Information regarding the number and compensation of retired State and local personnel is not available.
The above totals excluded unpaid officers and temporary employees whose total annual compensation was not in excess of $100 per year.
1
2
temporary employees with a larger compensation were included. The compensation of these employees, as well as that of the permanent and full-time personnel, is reported on an annual basis.
Sources of Information
Federal active civilian personnel. Information showing the number of Federal active civilian personnel, classified by salary size groups, was in large part obtained from the United States Civil Service Commission. The salary distribution for 780,196 Federal employees was estimated on the basis of a sample of 46,054 cards selected at random from the service record cards of the Civil Service Commission. This group comprised the regular and emergency employees of the Judiciary, the Library of Congress, and all the Federal executive agencies, except those separately enumerated.
Information covering the Works Progress Administration, the Tennessee Valley Authority, the Congress of the United States, the Superintendent of Documents, the Architect of the Capitol, and other legislative agencies, was furnished in part by the respective organizations and in part by the Bureau of the Budget. The salary distribution of certain labor and clerical classes, representing 1.7 percent of the number of Federal personnel, was estimated on the basis of the pay of comparable employees.
Military active and retired personnel. Complete reports of the active, retired and reserve military forces of the Federal Government were supplied by the War Department, the Navy Department, the U. S. Marine Corps, and the Coast Guard. Information on basic military pay and allowances for quarters and subsistence was separately reported. Military allowances represent the cash payments to officers and enlisted men in lieu of quarters and subsistence or the equivalent value of these allow-
ances for the officers. Equivalent pay values for enlisted men were restricted to subsistence, no values being computed for barracks or other quarters.
Number and compensation of State and local personnel. Estimates of the number and compensation of State and local personnel were in large part based on data supplied by the National Income Division, Bureau of Foreign and Domestic Commerce, Department of Commerce. Supplementary information was obtained by correspondence with State and local officials and with semi-official research organizations. Estimates of the number and pay of school teachers were based on data obtained from the United States Office of Education and the National Education Association. Statistics regarding the Federally-aided State and local functions were obtained from the several Federal agencies charged with the allocation of Federal funds.
Salary size distribution of State and local personnel. The salary distribution of school teachers was obtained from (1) a sample representing 345,742 of the 414,168 urban teachers in the United States, tabulated from the records of the National Education Association; and (2) a sample representing 202,469 of the 482,050 rural teachers in the United States, tabulated from the records of the Office of Education. The salary size distributions of the other State and local officers and employees were based on data available in State and local budgetary records and those furnished by State civil service commissions, other State and local officials, research bureaus, and leagues of municipalities.
Federal retired civilian personnel. The Civil Service Commission reported the number of Federal civilian annuitants, including the retired officers and employees of the Civil Service, Canal Zone and Alaska Railroad, classified by the size of annuities.
3
Estimated Number and Total Compensation of Active Federal, State and Local Government Personnel, Classified by Size of Total Compensation, 1937-1938*
(Amounts of compensation in thousands of dollars)
<table><tr><th>Compensation Classes</th><th colspan="3">Federal Government</th><th>State and local governments</th><th colspan="2">Total</th></tr><tr><th></th><th>Civilian</th><th>Military</th><th>Total</th><th></th><th>Number</th><th>% of total</th></tr><tr><td>$1,000 and under</td><td>65,310</td><td>238,553</td><td>303,863</td><td>1,037,976</td><td>1,341,839</td><td>35.4</td></tr><tr><td>1,001 - 1,500</td><td>205,589</td><td>44,639</td><td>250,228</td><td>547,689</td><td>798,117</td><td>21.1</td></tr><tr><td>1,501 - 2,000</td><td>227,661</td><td>6,577</td><td>234,238</td><td>441,436</td><td>675,674</td><td>17.8</td></tr><tr><td>2,001 - 2,500</td><td>250,213</td><td>8,477</td><td>258,690</td><td>327,955</td><td>586,645</td><td>15.5</td></tr><tr><td>2,501 - 3,000</td><td>48,282</td><td>2,348</td><td>50,630</td><td>137,153</td><td>187,783</td><td>4.9</td></tr><tr><td>3,001 - 3,500</td><td>19,871</td><td>4,502</td><td>24,373</td><td>53,792</td><td>78,165</td><td>2.0</td></tr><tr><td>3,501 - 4,000</td><td>10,388</td><td>2,211</td><td>12,599</td><td>33,349</td><td>45,948</td><td>1.2</td></tr><tr><td>4,001 - 4,500</td><td>3,999</td><td>2,762</td><td>6,761</td><td>18,579</td><td>25,340</td><td>.7</td></tr><tr><td>4,501 - 5,000</td><td>5,062</td><td>901</td><td>5,963</td><td>7,422</td><td>13,385</td><td>.3</td></tr><tr><td>5,001 - 6,000</td><td>3,739</td><td>5,688</td><td>9,427</td><td>7,259</td><td>16,686</td><td>.4</td></tr><tr><td>6,001 - 7,000</td><td>1,643</td><td>2,520</td><td>4,163</td><td>3,323</td><td>7,486</td><td>.2</td></tr><tr><td>7,001 - 8,000</td><td>762</td><td>2,981</td><td>3,743</td><td>2,192</td><td>5,935</td><td>.2</td></tr><tr><td>8,001 - 9,000</td><td>472</td><td>176</td><td>648</td><td>1,246</td><td>1,894</td><td>.1</td></tr><tr><td>9,001 - 10,000</td><td>708</td><td>102</td><td>810</td><td>908</td><td>1,718</td><td>.1</td></tr><tr><td>Over $10,000</td><td>570</td><td>92</td><td>662</td><td>1,339</td><td>2,001</td><td>.1</td></tr><tr><td>Total</td><td>844,269</td><td>322,529</td><td>1,166,798</td><td>2,621,818</td><td>3,788,616</td><td>100.0</td></tr></table>
<table><tr><th>Compensation Classes</th><th colspan="3">Federal Government</th><th>State and local governments</th><th colspan="2">Total</th></tr><tr><th></th><th>Civilian</th><th>Military</th><th>Total</th><th></th><th>Amount</th><th>% of total</th></tr><tr><td>$1,000 and under</td><td>52,248</td><td>148,141</td><td>200,389</td><td>530,027</td><td>730,416</td><td>13.3</td></tr><tr><td>1,001 - 1,500</td><td>231,288</td><td>53,849</td><td>285,137</td><td>690,335</td><td>975,472</td><td>17.7</td></tr><tr><td>1,501 - 2,000</td><td>369,949</td><td>12,090</td><td>382,039</td><td>776,906</td><td>1,158,945</td><td>21.0</td></tr><tr><td>2,001 - 2,500</td><td>531,684</td><td>18,595</td><td>550,279</td><td>741,002</td><td>1,291,281</td><td>23.5</td></tr><tr><td>2,501 - 3,000</td><td>126,740</td><td>6,591</td><td>133,331</td><td>378,474</td><td>511,805</td><td>9.3</td></tr><tr><td>3,001 - 3,500</td><td>62,097</td><td>14,632</td><td>76,729</td><td>175,342</td><td>252,070</td><td>4.6</td></tr><tr><td>3,501 - 4,000</td><td>37,656</td><td>8,291</td><td>45,947</td><td>125,391</td><td>171,338</td><td>3.1</td></tr><tr><td>4,001 - 4,500</td><td>16,496</td><td>11,391</td><td>27,887</td><td>79,145</td><td>107,032</td><td>1.9</td></tr><tr><td>4,501 - 5,000</td><td>23,412</td><td>4,152</td><td>27,564</td><td>35,383</td><td>62,887</td><td>1.1</td></tr><tr><td>5,001 - 6,000</td><td>20,097</td><td>33,462</td><td>53,559</td><td>39,992</td><td>93,551</td><td>1.7</td></tr><tr><td>6,001 - 7,000</td><td>10,474</td><td>16,380</td><td>26,854</td><td>21,632</td><td>48,486</td><td>.9</td></tr><tr><td>7,001 - 8,000</td><td>5,620</td><td>22,357</td><td>27,977</td><td>16,459</td><td>44,436</td><td>.8</td></tr><tr><td>8,001 - 9,000</td><td>3,953</td><td>1,559</td><td>5,512</td><td>10,613</td><td>16,125</td><td>.3</td></tr><tr><td>9,001 - 10,000</td><td>6,638</td><td>969</td><td>7,607</td><td>8,636</td><td>16,243</td><td>.3</td></tr><tr><td>Over $10,000</td><td>7,371</td><td>994</td><td>8,365</td><td>18,422</td><td>26,787</td><td>.5</td></tr><tr><td>Total</td><td>1,505,723</td><td>353,453</td><td>1,859,176</td><td>3,647,698</td><td>5,506,874</td><td>100.0</td></tr></table>
See text for explanation of dates of information. Total compensation includes military allowances for quarters and subsistence.
Number and Total Compensation of Retired and Reserve Federal Personnel, Classified by Size of Total Compensation, 1938*
Amounts of compensation in thousands of dollars
<table><tr><th rowspan="2">Compensation Classes</th><th colspan="4">Number of Personnel</th><th colspan="4">Compensation of Personnel</th></tr><tr><th>Civilian</th><th>Military</th><th colspan="2">Total</th><th>Civilian</th><th>Military</th><th colspan="2">Total</th></tr><tr><th></th><th></th><th></th><th>Number</th><th>% of total</th><th></th><th></th><th>Amount</th><th>% of total</th></tr><tr><td>$1,000 and under</td><td>21,740</td><td>19,492</td><td>41,232</td><td>38.9</td><td>15,321</td><td>16,529</td><td>31,850</td><td>24.5</td></tr><tr><td>1,001 - 1,500</td><td>34,741</td><td>10,535</td><td>45,276</td><td>42.7</td><td>39,952</td><td>11,932</td><td>51,884</td><td>39.9</td></tr><tr><td>1,501 - 2,000</td><td>183</td><td>8,660</td><td>8,843</td><td>8.3</td><td>302</td><td>14,247</td><td>14,549</td><td>11.2</td></tr><tr><td>2,001 - 2,500</td><td>21</td><td>3,537</td><td>3,558</td><td>3.4</td><td>45</td><td>8,036</td><td>8,081</td><td>6.2</td></tr><tr><td>2,501 - 3,000</td><td>-</td><td>3,893</td><td>3,893</td><td>3.7</td><td>-</td><td>10,655</td><td>10,655</td><td>8.2</td></tr><tr><td>3,001 - 3,500</td><td>-</td><td>789</td><td>789</td><td>.7</td><td>-</td><td>2,362</td><td>2,362</td><td>1.8</td></tr><tr><td>3,501 - 4,000</td><td>-</td><td>813</td><td>813</td><td>.8</td><td>-</td><td>3,045</td><td>3,045</td><td>2.3</td></tr><tr><td>4,001 - 4,500</td><td>-</td><td>1,428</td><td>1,428</td><td>1.3</td><td>-</td><td>6,339</td><td>6,339</td><td>4.9</td></tr><tr><td>4,501 - 5,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>5,001 - 6,000</td><td>-</td><td>223</td><td>223</td><td>.2</td><td>-</td><td>1,338</td><td>1,338</td><td>1.0</td></tr><tr><td>6,001 - 7,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>7,001 - 8,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>8,001 - 9,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9,001 - 10,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Over $10,000</td><td>-</td><td>1</td><td>1</td><td>1/</td><td>-</td><td>22</td><td>22</td><td>1/</td></tr><tr><td>Total</td><td>56,685</td><td>49,311</td><td>105,996</td><td>100.0</td><td>55,620</td><td>74,505</td><td>130,125</td><td>100.0</td></tr></table>
* Includes the retired officers and employees of the Civil Service, Canal Zone, and Alaska Railroad, and the retired and reserve military officers and enlisted men. The retirement pay of the Lighthouse Service, the Federal Judiciary, the Foreign Service of the State Department, the Public Health Service, and the Coast and Geodetic Survey, aggregating $1,401,000, not included. Total compensation includes military allowances for quarters and subsistence. See text for explanation of dates of information.
1/ Less than .05 percent.
FEDERAL RECEIPTS AND EXPENDITURES
4
5
Summary Table 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="6">First 6 months fiscal year-</th><th colspan="6">Outstanding on December 31 of fiscal year-</th></tr><tr><th></th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>1940</th><th>Change '39 -'40</th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>1940</th><th>Change '39 -'40</th></tr><tr><td>Receipts.....</td><td>1,845</td><td>1,902</td><td>2,158</td><td>3,176</td><td>2,927</td><td>2,744</td><td>-183</td><td>Market issues,etc.</td><td>27,921</td><td>29,829</td><td>33,675</td><td>35,052</td><td>36,271</td><td>37,711</td><td>+1,440</td></tr><tr><td>Expenditures.</td><td>3,611</td><td>3,284</td><td>3,863</td><td>3,690</td><td>4,504</td><td>4,748</td><td>+244</td><td>Special issues....</td><td>558</td><td>728</td><td>732</td><td>2,227</td><td>3,156</td><td>4,231</td><td>+1,075</td></tr><tr><td>Deficit....</td><td>1,766</td><td>1,382</td><td>1,705</td><td>514</td><td>1,577</td><td>2,004</td><td>+427</td><td>Gross debt......</td><td>28,479</td><td>30,557</td><td>34,407</td><td>37,279</td><td>39,427</td><td>41,942</td><td>+2,515</td></tr></table>
Receipts and Expenditures
First 6 Months, Fiscal Years 1935 to 1940
(In millions of dollars - on basis of daily Treasury statements, unrevised.)
<table><tr><th></th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>1940</th><th>Change '39 -'40</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>421</td><td>555</td><td>706</td><td>1,157</td><td>1,135</td><td>796</td><td>-339</td></tr><tr><td>Miscellaneous Internal Revenue.</td><td>855</td><td>975</td><td>1,133</td><td>1,268</td><td>1,200</td><td>1,276</td><td>+76</td></tr><tr><td>Taxes under Social Security Act.</td><td>-</td><td>-</td><td>-</td><td>321</td><td>279</td><td>318</td><td>+39</td></tr><tr><td>Taxes upon carriers and their employee.</td><td>-</td><td>-</td><td>-</td><td>92</td><td>53</td><td>57</td><td>+4</td></tr><tr><td>Customs.</td><td>170</td><td>190</td><td>217</td><td>214</td><td>164</td><td>178</td><td>+14</td></tr><tr><td>Other.</td><td>399</td><td>182</td><td>102</td><td>124</td><td>96</td><td>119</td><td>+23</td></tr><tr><td>Total Receipts</td><td>1,845</td><td>1,902</td><td>2,158</td><td>3,176</td><td>2,927</td><td>2,744</td><td>-183</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 Veterane Adm.</td><td>685</td><td>794</td><td>808</td><td>792</td><td>855</td><td>966</td><td>+111</td></tr><tr><td>Social Security and R. R. Retirement Acts.</td><td>-</td><td>-</td><td>78</td><td>483</td><td>467</td><td>538</td><td>+71</td></tr><tr><td>Agricultural Adjustment Program.</td><td>376</td><td>366</td><td>162</td><td>78</td><td>297</td><td>475</td><td>+178</td></tr><tr><td>Interest on the public debt.</td><td>414</td><td>358</td><td>403</td><td>432</td><td>425</td><td>455</td><td>+30</td></tr><tr><td>Public Works.</td><td>402</td><td>331</td><td>573</td><td>463</td><td>472</td><td>501</td><td>+29</td></tr><tr><td>Unemployment relief.</td><td>1,119</td><td>1,019</td><td>1,279</td><td>896</td><td>1,363</td><td>951</td><td>-412</td></tr><tr><td>Loans and stock sub-scriptions.</td><td>268</td><td>28*</td><td>47</td><td>28</td><td>55</td><td>91</td><td>+36</td></tr><tr><td>Other.</td><td>347</td><td>444</td><td>513</td><td>518</td><td>570</td><td>771</td><td>+201</td></tr><tr><td>Total Expenditures.</td><td>3,611</td><td>3,284</td><td>3,863</td><td>3,690</td><td>4,504</td><td>4,748</td><td>+244</td></tr><tr><td>Excess of Expenditures.</td><td>1,766</td><td>1,382</td><td>1,705</td><td>514</td><td>1,577</td><td>2,004</td><td>+427</td></tr></table>
Excess of credit, deduct.
Fiscal Years 1938, 1939 and 1940
(In millions of dollars - on basis of the 1940 Budget and daily Treasury statements, unrevised.)
<table><tr><th></th><th>Actual 1938</th><th>Actual 1939</th><th>Estimated 1940</th><th>Actual 6 months 1940</th></tr><tr><td>Receipts:</td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax</td><td>2,635</td><td>2,182</td><td>1,953</td><td>796</td></tr><tr><td>Miscellaneous Internal Revenue</td><td>2,279</td><td>2,332</td><td>2,356</td><td>1,276</td></tr><tr><td>Taxes under Social Security Act</td><td>604</td><td>631</td><td>703</td><td>318</td></tr><tr><td>Taxes upon carriers and their employees</td><td>150</td><td>109</td><td>124</td><td>57</td></tr><tr><td>Customs</td><td>359</td><td>319</td><td>283</td><td>178</td></tr><tr><td>Other</td><td>215</td><td>195</td><td>285</td><td>119</td></tr><tr><td>Total Receipts</td><td>6,242</td><td>5,668</td><td>5,704</td><td>2,744</td></tr><tr><td>Expenditures:</td><td></td><td></td><td></td><td></td></tr><tr><td>National defense and Veterans Adm.</td><td>1,610</td><td>1,720</td><td>2,162</td><td>966</td></tr><tr><td>Social Security and R. R. Retirement Acts</td><td>823</td><td>954</td><td>1,046</td><td>538</td></tr><tr><td>Agricultural Adjustment Program</td><td>362</td><td>782</td><td>937</td><td>475</td></tr><tr><td>Interest on the public debt</td><td>926</td><td>940</td><td>1,050</td><td>455</td></tr><tr><td>Public Works</td><td>794</td><td>948</td><td>946</td><td>501</td></tr><tr><td>Unemployment relief</td><td>1,914</td><td>2,595</td><td>1,838</td><td>951</td></tr><tr><td>Loans and stock subscriptions</td><td>135</td><td>212</td><td>251</td><td>91</td></tr><tr><td>Other</td><td>1,062</td><td>1,059</td><td>1,407</td><td>771</td></tr><tr><td>Total Expenditures</td><td>7,626</td><td>9,210</td><td>9,637</td><td>4,748</td></tr><tr><td>Net deficit</td><td>1,384</td><td>3,542</td><td>3,933</td><td>2,004</td></tr><tr><td>Financing of deficit:</td><td></td><td></td><td></td><td></td></tr><tr><td>Increases in debt</td><td></td><td></td><td></td><td></td></tr><tr><td>Market issues</td><td>378 1/2</td><td>2,180</td><td>1,691</td><td>1,042</td></tr><tr><td>Special issues</td><td>1,118</td><td>1,094</td><td>1,092</td><td>461</td></tr><tr><td>Total debt increase</td><td>740</td><td>3,274</td><td>2,783</td><td>1,503</td></tr><tr><td>Net increase in working balance, general and special accounts (deduct)</td><td>644</td><td>268</td><td>1,150</td><td>501</td></tr><tr><td></td><td>1,384</td><td>3,542</td><td>3,933</td><td>2,004</td></tr></table>
1/ Decrease, deduct. Decrease in balance, add.
RECONCILIATION, DEFICIT AND DEBT INCREASE, FIRST 6 MONTHS OF FISCAL YEAR 1940
<table><tr><td>Increase in debt:</td><td></td><td></td></tr><tr><td>New issues (lose redemptions)</td><td>1,503</td><td></td></tr><tr><td>Accounted for:</td><td></td><td>2,004</td></tr><tr><td>Deficit</td><td></td><td>2,004</td></tr><tr><td>Decrease, cash balance</td><td>362</td><td></td></tr><tr><td>Trust fund net receipts</td><td>139</td><td>501</td></tr><tr><td></td><td></td><td>1,503</td></tr></table>
6
Monthly Receipts, Expenditures and Excess of Expenditures
(In millions of dollars - on basis of daily Treasury statements, unrevived)
<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><th>Total</th></tr><tr><td><b>Receipts</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><td></td></tr><tr><td>1934</td><td>211</td><td>206</td><td>420</td><td>182</td><td>237</td><td>391</td><td>218</td><td>286</td><td>449</td><td>260</td><td>247</td><td>385</td><td>3,492</td></tr><tr><td>1935</td><td>203</td><td>214</td><td>601</td><td>228</td><td>246</td><td>463</td><td>279</td><td>299</td><td>421</td><td>235</td><td>234</td><td>434</td><td>3,857</td></tr><tr><td>1936</td><td>228</td><td>218</td><td>752</td><td>231</td><td>256</td><td>529</td><td>294</td><td>343</td><td>499</td><td>272</td><td>233</td><td>517</td><td>4,372</td></tr><tr><td>1937</td><td>284</td><td>275</td><td>1,011</td><td>363</td><td>335</td><td>868</td><td>409</td><td>453</td><td>788</td><td>333</td><td>327</td><td>866</td><td>6,312</td></tr><tr><td>1938</td><td>335</td><td>349</td><td>960</td><td>273</td><td>375</td><td>774</td><td>311</td><td>487</td><td>711</td><td>332</td><td>382</td><td>704</td><td>5,993</td></tr><tr><td>1939</td><td>308</td><td>417</td><td>737</td><td>268</td><td>397</td><td>613</td><td>308</td><td>420</td><td>719</td><td>321</td><td>407</td><td>569</td><td>5,484</td></tr><tr><td><b>Expenditures</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><td></td></tr><tr><td>1934</td><td>720</td><td>934</td><td>580</td><td>644</td><td>483</td><td>643</td><td>611</td><td>561</td><td>544</td><td>790</td><td>598</td><td>647</td><td>7,755</td></tr><tr><td>1935</td><td>488</td><td>531</td><td>574</td><td>785</td><td>596</td><td>858</td><td>616</td><td>438</td><td>588</td><td>805</td><td>535</td><td>637</td><td>7,451</td></tr><tr><td>1936</td><td>538</td><td>489</td><td>644</td><td>648</td><td>693</td><td>2,438</td><td>661</td><td>592</td><td>683</td><td>681</td><td>569</td><td>728</td><td>9,364</td></tr><tr><td>1937</td><td>588</td><td>613</td><td>815</td><td>757</td><td>564</td><td>1,295</td><td>677</td><td>558</td><td>702</td><td>612</td><td>499</td><td>680</td><td>8,360</td></tr><tr><td>1938</td><td>534</td><td>528</td><td>752</td><td>643</td><td>569</td><td>937</td><td>763</td><td>683</td><td>765</td><td>771</td><td>678</td><td>870</td><td>8,493</td></tr><tr><td>1939</td><td>693</td><td>662</td><td>879</td><td>786</td><td>745</td><td>973</td><td>807</td><td>822</td><td>793</td><td>764</td><td>691</td><td>889</td><td>9,504</td></tr><tr><td><b>Exceed of expenditures</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><td></td></tr><tr><td>1934</td><td>509</td><td>728</td><td>160</td><td>462</td><td>246</td><td>252</td><td>393</td><td>275</td><td>95</td><td>530</td><td>351</td><td>262</td><td>4,263</td></tr><tr><td>1935</td><td>285</td><td>317</td><td>-27</td><td>557</td><td>350</td><td>395</td><td>337</td><td>139</td><td>167</td><td>570</td><td>301</td><td>203</td><td>3,594</td></tr><tr><td>1936</td><td>310</td><td>271</td><td>-108</td><td>417</td><td>437</td><td>1,909</td><td>367</td><td>249</td><td>184</td><td>409</td><td>336</td><td>211</td><td>4,992</td></tr><tr><td>1937</td><td>304</td><td>338</td><td>-196</td><td>394</td><td>229</td><td>427</td><td>268</td><td>105</td><td>-86</td><td>279</td><td>172</td><td>-186</td><td>2,048</td></tr><tr><td>1938</td><td>199</td><td>179</td><td>-208</td><td>370</td><td>194</td><td>163</td><td>452</td><td>196</td><td>54</td><td>439</td><td>296</td><td>166</td><td>2,500</td></tr><tr><td>1939</td><td>385</td><td>245</td><td>142</td><td>518</td><td>348</td><td>360</td><td>499</td><td>402</td><td>74</td><td>443</td><td>284</td><td>320</td><td>4,020</td></tr></table>
Note: Negative figures denote excess of receipts.
Summary of Receipts and Expenditures
(In millions of dollars - on basis of daily Treasury statements, unrevised) 1/
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Receipts</th><th colspan="5">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 1/</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 accounts etc.</th><th>Debt retirement</th></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>3,513</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>2,285</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>1939......</td><td>5,668</td><td>5,154</td><td>2,182</td><td>740</td><td>2,232</td><td>319</td><td>195</td><td>9,268</td><td>5,328</td><td>3,105</td><td>92</td><td>685</td><td>58</td><td>-3,600</td></tr><tr><td>1938-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><tr><td>Apr.....</td><td>268</td><td>226</td><td>40</td><td>30</td><td>156</td><td>29</td><td>13</td><td>786</td><td>456</td><td>266</td><td>8</td><td>55</td><td>1</td><td>-518</td></tr><tr><td>May.....</td><td>397</td><td>355</td><td>43</td><td>124</td><td>188</td><td>25</td><td>17</td><td>745</td><td>425</td><td>262</td><td>7</td><td>50</td><td>1</td><td>-348</td></tr><tr><td>June....</td><td>613</td><td>574</td><td>355</td><td>25</td><td>195</td><td>25</td><td>14</td><td>973</td><td>635</td><td>252</td><td>8</td><td>56</td><td>21</td><td>-360</td></tr><tr><td>July....</td><td>308</td><td>265</td><td>42</td><td>36</td><td>187</td><td>26</td><td>17</td><td>807</td><td>419</td><td>220</td><td>1</td><td>167</td><td>-</td><td>-499</td></tr><tr><td>Aug.....</td><td>420</td><td>374</td><td>37</td><td>119</td><td>218</td><td>27</td><td>19</td><td>822</td><td>424</td><td>321</td><td>11</td><td>66</td><td>-</td><td>-402</td></tr><tr><td>Sept....</td><td>719</td><td>667</td><td>328</td><td>27</td><td>312</td><td>36</td><td>16</td><td>793</td><td>559</td><td>170</td><td>5</td><td>50</td><td>9</td><td>-74</td></tr><tr><td>Oct.....</td><td>321</td><td>272</td><td>37</td><td>36</td><td>199</td><td>32</td><td>17</td><td>764</td><td>527</td><td>175</td><td>9</td><td>53</td><td>1</td><td>-443</td></tr><tr><td>Nov.....</td><td>407</td><td>355</td><td>34</td><td>130</td><td>191</td><td>29</td><td>23</td><td>691</td><td>451</td><td>182</td><td>5</td><td>53</td><td>-</td><td>-284</td></tr><tr><td>Dec.....</td><td>569</td><td>518</td><td>318</td><td>5</td><td>195</td><td>28</td><td>23</td><td>889</td><td>629</td><td>194</td><td>(1)</td><td>58</td><td>9</td><td>-320</td></tr></table>
1/ Figures in this and three succeeding tables are rounded to nearest million and will not necessarily add to totals.
2/ Excluding postal revenues but including postal deficit.
3/ Including Railroad Retirement.
(*) Indicates excess of credit, deduct.
BUDGET RECEIPTS, EXPENDITURES AND EXCESS OF EXPENDITURES
January 1934 to Date
7
8
Expenditures - General
(In millions of dollars - on basis of daily Treasury statement, unrevised)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Departmental</th><th>National defense</th><th>Veterans' Administration</th><th>Public Works</th><th>Agricultural Adjustment program</th><th>Civilian Conservation Corps</th><th>Social Security and Railroad Retirement Acts</th><th>Interest on the public debt</th><th>Other</th></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>2/3</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>3/3</td><td>29</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>3/3</td><td>188</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>321</td><td>325</td><td>290</td><td>866</td><td>143</td></tr><tr><td>1938</td><td>4,661</td><td>559</td><td>974</td><td>582</td><td>471</td><td>362</td><td>290</td><td>345</td><td>926</td><td>172</td></tr><tr><td>1939</td><td>5,328</td><td>645</td><td>1,075</td><td>552</td><td>536</td><td>787</td><td></td><td></td><td>941</td><td>157</td></tr><tr><td>1938-Dec.</td><td>500</td><td>46</td><td>91</td><td>45</td><td>48</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>61</td><td>94</td><td>46</td><td>45</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>55</td><td>77</td><td>44</td><td>36</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>51</td><td>91</td><td>46</td><td>36</td><td>94</td><td>24</td><td>24</td><td>120</td><td>13</td></tr><tr><td>Apr.</td><td>456</td><td>52</td><td>87</td><td>46</td><td>33</td><td>98</td><td>22</td><td>37</td><td>66</td><td>15</td></tr><tr><td>May.</td><td>425</td><td>54</td><td>90</td><td>45</td><td>39</td><td>106</td><td>23</td><td>33</td><td>10</td><td>25</td></tr><tr><td>June.</td><td>635</td><td>49</td><td>95</td><td>45</td><td>44</td><td>73</td><td>24</td><td>18</td><td>272</td><td>15</td></tr><tr><td>July.</td><td>419</td><td>64</td><td>100</td><td>45</td><td>48</td><td>55</td><td>26</td><td>44</td><td>15</td><td>22</td></tr><tr><td>Aug.</td><td>424</td><td>54</td><td>106</td><td>46</td><td>57</td><td>45</td><td>28</td><td>36</td><td>18</td><td>34</td></tr><tr><td>Sept.</td><td>559</td><td>59</td><td>102</td><td>45</td><td>57</td><td>68</td><td>24</td><td>22</td><td>151</td><td>31</td></tr><tr><td>Oct.</td><td>527</td><td>64</td><td>108</td><td>45</td><td>63</td><td>97</td><td>24</td><td>43</td><td>68</td><td>15</td></tr><tr><td>Nov.</td><td>451</td><td>51</td><td>112</td><td>45</td><td>59</td><td>117</td><td>23</td><td>24</td><td>12</td><td>8</td></tr><tr><td>Dec.</td><td>629</td><td>59</td><td>119</td><td>45</td><td>54</td><td>102</td><td>23</td><td>21</td><td>190</td><td>16</td></tr></table>
1/ Includes public buildings, public highways, rivers and harbors, Tennessee Valley Authority, Rural Electrification and Reclamation projects.
2/ Included under Recovery and Relief in these years.
Expenditures - Recovery and Relief
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>Fiscal year or month</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 3/</th><th>Other</th><th></th><th></th><th></th><th></th></tr><tr><td>1933</td><td>385</td><td>-</td><td>-</td><td>38</td><td>(*)</td><td>44</td><td>303</td></tr><tr><td>1934</td><td>2,763</td><td>-</td><td>494</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>816</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>784</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>(1)</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>1939</td><td>3,105</td><td>2,240</td><td>606</td><td>2</td><td>50</td><td>198</td><td>8</td></tr><tr><td>1938-Dec.</td><td>309</td><td>219</td><td>75</td><td>*</td><td>4</td><td>11</td><td>-</td></tr><tr><td>1939-Jan.</td><td>258</td><td>185</td><td>60</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><tr><td>Apr.</td><td>266</td><td>173</td><td>64</td><td>*</td><td>2</td><td>25</td><td>2</td></tr><tr><td>May.</td><td>262</td><td>173</td><td>61</td><td>*</td><td>5</td><td>23</td><td>(*)</td></tr><tr><td>June.</td><td>252</td><td>167</td><td>60</td><td>*</td><td>6</td><td>16</td><td>2</td></tr><tr><td>July.</td><td>220</td><td>149</td><td>60</td><td>*</td><td>-</td><td>11</td><td>-</td></tr><tr><td>Aug.</td><td>321</td><td>134</td><td>51</td><td>*</td><td>125 1/2</td><td>9</td><td>2</td></tr><tr><td>Sept.</td><td>170</td><td>106</td><td>55</td><td>*</td><td>-</td><td>9</td><td>-</td></tr><tr><td>Oct.</td><td>175</td><td>113</td><td>52</td><td>*</td><td>*</td><td>8</td><td>2</td></tr><tr><td>Nov.</td><td>182</td><td>112</td><td>61</td><td>*</td><td>*</td><td>9</td><td>-</td></tr><tr><td>Deco.</td><td>194</td><td>124</td><td>53</td><td>*</td><td>6</td><td>11</td><td>1</td></tr></table>
1/ Includes funds expended for Civilian Conservation Corps during these years.
2/ Includes $94,000,000 restoration of capital impairment of Commodity Credit Corporation.
3/ Prior to fiscal year 1940 figures include National Youth Administration expenditures.
4/ Includes $119,599,318.05 restoration of capital impairment of Commodity Credit Corporation.
( ) Less than $500,000.
( ) Indicated excess of credits, deduct.
9
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">Fiscal year or month</th><th colspan="3">Revolving funds (net)</th><th colspan="6">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>Advances to Railroad Unemployment Insurance Account</th><th>Government Employees' Retirement Fund (U.S. share)</th></tr><tr><td>1933</td><td>74</td><td>74</td><td>-</td><td>121</td><td>-</td><td>-</td><td>100</td><td>-</td><td>21</td></tr><tr><td>1934</td><td>496</td><td>346</td><td>150</td><td>71</td><td>-</td><td>-</td><td>50</td><td>-</td><td>21</td></tr><tr><td>1935</td><td>345</td><td>141</td><td>204</td><td>71</td><td>-</td><td>-</td><td>50</td><td>-</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>-</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>-</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>-</td><td>73</td></tr><tr><td>1939</td><td>92</td><td>(8)</td><td>101</td><td>685</td><td>503</td><td>107</td><td>-</td><td>-</td><td>75</td></tr><tr><td>1938-Dec.</td><td>4</td><td>(2)</td><td>6</td><td>48</td><td>32</td><td>16</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939-Jan.</td><td>5</td><td>(*)</td><td>5</td><td>39</td><td>37</td><td>2</td><td>-</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><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><td>-</td></tr><tr><td>Apr.</td><td>8</td><td>(*)</td><td>8</td><td>55</td><td>55</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>May.</td><td>7</td><td>(*)</td><td>8</td><td>50</td><td>50</td><td>*</td><td>-</td><td>-</td><td>-</td></tr><tr><td>June.</td><td>8</td><td>(*)</td><td>9</td><td>56</td><td>56</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July.</td><td>1</td><td>(*)</td><td>1</td><td>167</td><td>43</td><td>22</td><td>-</td><td>87</td><td>15</td></tr><tr><td>Aug.</td><td>11</td><td>(1)</td><td>11</td><td>66</td><td>48</td><td>18</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sept.</td><td>5</td><td>(1)</td><td>6</td><td>50</td><td>43</td><td>7</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Oct.</td><td>9</td><td>(1)</td><td>10</td><td>53</td><td>43</td><td>10</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Nov.</td><td>5</td><td>(1)</td><td>6</td><td>53</td><td>43</td><td>10</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dec.</td><td>(1)</td><td>(1)</td><td>(*)</td><td>58</td><td>48</td><td>10</td><td>-</td><td>-</td><td>-</td></tr></table>
Less than $500,000.
( ) Indicates excess of credits, deduct.
10
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
<table><tr><th>Sources of Revenue</th><th colspan="2">December</th><th colspan="2">July 1 - December 31</th><th>Sources of Revenue</th><th colspan="2">December</th><th colspan="2">July 1 - December 31</th></tr><tr><th></th><th>1939</th><th>1938</th><th>Fiscal year 1940</th><th>Fiscal year 1939</th><th></th><th>1939</th><th>1938</th><th>Fiscal year 1940</th><th>Fiscal year 1939</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></td><td></td><td></td><td></td><td>Manufacturers' excise taxes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Current</td><td>169,797</td><td>248,487</td><td>392,904</td><td>566,407</td><td>Lubricating oils</td><td>2,306</td><td>2,109</td><td>16,103</td><td>16,763</td></tr><tr><td>Back</td><td>9,140</td><td>11,695</td><td>64,467</td><td>59,164</td><td>Gasoline</td><td>17,000</td><td>16,937</td><td>118,427</td><td>110,229</td></tr><tr><td>Individual</td><td></td><td></td><td></td><td></td><td>Tires and inner tubes</td><td>4,442</td><td>2,875</td><td>21,759</td><td>15,447</td></tr><tr><td>Current</td><td>129,217</td><td>207,454</td><td>292,231</td><td>451,651</td><td>Automobile trucks</td><td>826</td><td>515</td><td>3,338</td><td>2,200</td></tr><tr><td>Back</td><td>8,127</td><td>6,168</td><td>39,983</td><td>36,289</td><td>Other automobiles and motorcycles</td><td>5,542</td><td>2,834</td><td>19,502</td><td>11,161</td></tr><tr><td>Excess-profits</td><td>2,564</td><td>7,705</td><td>8,172</td><td>19,731</td><td>Parts or accessories for automobiles</td><td>863</td><td>704</td><td>4,771</td><td>3,750</td></tr><tr><td>Total income taxes</td><td>318,845</td><td>481,509</td><td>797,757</td><td>1,133,242</td><td>Electrical energy</td><td>3,104</td><td>3,041</td><td>20,026</td><td>19,003</td></tr><tr><td>Tax on unjust enrichment</td><td>1,008</td><td>763</td><td>3,864</td><td>3,484</td><td>Radio sets, etc. (including tax on phonograph records repealed as of 7/1/38)</td><td>744</td><td>593</td><td>3,072</td><td>2,677</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td></td><td>Mechanical refrigerators</td><td>223</td><td>239</td><td>4,186</td><td>2,218</td></tr><tr><td>Capital stock tax</td><td>241</td><td>322</td><td>131,095</td><td>126,075</td><td>Firearms, shells, and cartridges</td><td>237</td><td>106</td><td>2,468</td><td>1,916</td></tr><tr><td>Estate tax</td><td>21,039</td><td>33,049</td><td>182,166</td><td>172,732</td><td>Pistols and revolvers</td><td>6</td><td>6</td><td>34</td><td>27</td></tr><tr><td>Gift tax</td><td>281</td><td>652</td><td>4,256</td><td>3,298</td><td>Toilet preparations, etc. (including repealed 5% tax)</td><td>706</td><td>1,086</td><td>4,037</td><td>6,102</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td></td><td>Matches (including repealed taxes)</td><td>1/</td><td>8</td><td>1</td><td>118</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>3,242</td><td>3,852</td><td>15,432</td><td>14,781</td><td>Brewer's wort and malt (repealed as of 7/1/38)</td><td>1/</td><td>1/</td><td>4</td><td>9</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>25,766</td><td>26,491</td><td>150,840</td><td>139,343</td><td>Article made of fur (repealed as of 7/1/38)</td><td>13</td><td>26</td><td>87</td><td>237</td></tr><tr><td>Distilled spirit rectification tax</td><td>1,108</td><td>1,287</td><td>6,502</td><td>6,026</td><td>Sporting goods (repealed as of 7/1/38)</td><td>5</td><td>8</td><td>56</td><td>699</td></tr><tr><td>Wines, cordials, etc.</td><td>96</td><td>101</td><td>353</td><td>306</td><td>Cameras and lenses (repealed as of 7/1/38)</td><td>1/</td><td>1/</td><td>2</td><td>180</td></tr><tr><td>(imported, excise)</td><td>808</td><td>752</td><td>3,706</td><td>3,222</td><td>Gheving gum (repealed as of 7/1/38)</td><td>1</td><td>1/</td><td>1</td><td>106</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>121</td><td>28</td><td>798</td><td>324</td><td>Total manufacturers' excise taxes</td><td>36,018</td><td>31,087</td><td>217,874</td><td>192,842</td></tr><tr><td>Brandy used for fortifying sweet wines</td><td>87</td><td>96</td><td>4,248</td><td>4,464</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>1</td><td>1/</td><td>3</td><td>1/</td><td>Bituminous Coal Act of 1937</td><td>380</td><td>317</td><td>1,932</td><td>1,601</td></tr><tr><td>Stamps for distilled spirit intended for export</td><td>116</td><td>60</td><td>543</td><td>223</td><td>Sugar Act of 1937</td><td>4,337</td><td>4,589</td><td>38,667</td><td>35,302</td></tr><tr><td>Cane stamps for distilled spirit</td><td>796</td><td>891</td><td>5,446</td><td>5,216</td><td>Telephone, telegraph, radio and cable facilities, leased wires, etc.</td><td>2,661</td><td>2,037</td><td>12,816</td><td>12,052</td></tr><tr><td>bottled in bond</td><td>19,013</td><td>17,576</td><td>139,654</td><td>135,267</td><td>Transportation of oil by pipe line</td><td>769</td><td>940</td><td>5,543</td><td>5,526</td></tr><tr><td>Container stamps</td><td>43</td><td>45</td><td>2,333</td><td>2,417</td><td>Leases of safe-deposit boxes</td><td>133</td><td>132</td><td>931</td><td>910</td></tr><tr><td>Floor taxes</td><td>51,197</td><td>51,270</td><td>329,868</td><td>315,652</td><td>Admission to theaters, concerts, cabarets, etc.</td><td>1,975</td><td>2,020</td><td>10,720</td><td>10,315</td></tr><tr><td>Permeated malt liquors</td><td>806</td><td>843</td><td>6,931</td><td>6,849</td><td>Club dues and initiation fees</td><td>424</td><td>422</td><td>2,885</td><td>2,935</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>6</td><td>8</td><td>54</td><td>56</td><td>Adulterated and processed or renovated butter, mixed flour and filled cheeses</td><td>1</td><td>2</td><td>12</td><td>13</td></tr><tr><td>Total alcoholic beverage taxes</td><td>38,408</td><td>37,968</td><td>264,810</td><td>251,443</td><td>Oleomargarine, including special taxes</td><td>78</td><td>100</td><td>1,271</td><td>1,457</td></tr><tr><td>Tobacco taxes:</td><td>534</td><td>612</td><td>3,320</td><td>3,409</td><td>Marcoitice, including marihuana and special taxes</td><td>33</td><td>15</td><td>247</td><td>227</td></tr><tr><td>Cigars (large)</td><td>3,796</td><td>4,271</td><td>27,759</td><td>28,007</td><td>Coconut and other vegetable oils processed</td><td>1,834</td><td>2,354</td><td>12,023</td><td>13,852</td></tr><tr><td>Cigars (small)</td><td>150</td><td>111</td><td>617</td><td>713</td><td>National Firearms Act</td><td>1/</td><td>1/</td><td>3</td><td>5</td></tr><tr><td>Cigarettes (large)</td><td>43,702</td><td>43,815</td><td>303,502</td><td>290,489</td><td>All other, including repealed taxes not listed above</td><td>6</td><td>23</td><td>120</td><td>221</td></tr><tr><td>Cigarettes (small)</td><td>Total tobacco taxes</td><td>1,525</td><td>1,758</td><td>9,181</td><td>10,102</td><td>Total miscellaneous taxes</td><td>12,631</td><td>12,951</td><td>87,170</td><td>84,416</td></tr><tr><td>Smuff</td><td>2,921</td><td>3,895</td><td>19,668</td><td>22,179</td><td>Total miscellaneous internal revenue</td><td>168,030</td><td>177,041</td><td>1,275,619</td><td>1,207,683</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>Documentary, etc., stamp taxes</td><td>1,012</td><td>1,754</td><td>8,240</td><td>9,670</td><td>Payroll taxes:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cigar paper and tubes</td><td>Bonds of indebtedness, issues of capital stock, deeds of conveyance, etc.</td><td>363</td><td>374</td><td>2,158</td><td>2,079</td><td>Social Security taxes (Social Security Act):</td><td></td><td></td><td></td><td></td></tr><tr><td>Leaf dealer penalties, etc.</td><td>Capital stock and similar interest sales or transfer</td><td>21</td><td>9</td><td>109</td><td>79</td><td>Taxes with respect to employment (Federal Insurance Contributions Act) 2/</td><td>2,723</td><td>2,414</td><td>293,956</td><td>258,065</td></tr><tr><td>Total documentary, etc., stamp taxes</td><td>Silver bullion sales</td><td>1/</td><td>1/</td><td>1/</td><td>249</td><td>Tax on employers of 8 or more (Federal Unemployment Tax Act) 3/</td><td>493</td><td>483</td><td>23,011</td><td>21,234</td></tr><tr><td></td><td>Sales of produce for future delivery (repealed as of 7/1/38)</td><td>Total Social Security taxes</td><td>3,216</td><td>2,897</td><td>316,967</td><td>279,299</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total payroll taxes</td><td>11,110</td><td>2,939</td><td>375,374</td><td>332,732</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total internal revenue</td><td>498,993</td><td>662,252</td><td>2,452,614</td><td>2,677,142</td><td></td><td></td><td></td><td></td><td></td></tr></table>
1/ Less than $500.
2/ Formerly Title VIII.
3/ Formerly Title IX.
11
Collections of Internal Revenue
(In thousands of dollars - on basis of reports of collections)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th colspan="3">Income and Profite</th><th colspan="4">Payroll Taxes</th></tr><tr><th>Total</th><th>Individual</th><th>Corporation 1/</th><th>Total</th><th>Social Security Act 2/ Insurance Contributions Act</th><th>Unemployment Tax Act</th><th>Carriere' Taxing Act of 1937</th></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>1939</td><td>5,181,574</td><td>2,178,431</td><td>1,028,834</td><td>1,149,597</td><td>740,429</td><td>529,835</td><td>101,167</td><td>109,427</td></tr><tr><td>1938-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><tr><td>Apr.</td><td>279,986</td><td>39,292</td><td>14,964</td><td>24,328</td><td>69,684</td><td>62,529</td><td>5,542</td><td>1,613</td></tr><tr><td>May.</td><td>315,036</td><td>44,432</td><td>19,647</td><td>24,785</td><td>93,044</td><td>73,682</td><td>6,401</td><td>12,961</td></tr><tr><td>June.</td><td>568,646</td><td>353,868</td><td>163,668</td><td>190,200</td><td>16,252</td><td>2,604</td><td>663</td><td>12,985</td></tr><tr><td>July.</td><td>300,091</td><td>43,699</td><td>11,318</td><td>32,381</td><td>72,754</td><td>66,141</td><td>5,098</td><td>1,515</td></tr><tr><td>Aug.</td><td>397,421</td><td>33,496</td><td>10,477</td><td>23,019</td><td>97,447</td><td>73,555</td><td>6,052</td><td>17,840</td></tr><tr><td>Sept.</td><td>624,254</td><td>331,298</td><td>151,177</td><td>180,121</td><td>12,308</td><td>2,374</td><td>491</td><td>9,443</td></tr><tr><td>Oct.</td><td>292,241</td><td>36,122</td><td>8,172</td><td>27,950</td><td>68,578</td><td>61,882</td><td>5,148</td><td>1,548</td></tr><tr><td>Nov.</td><td>339,615</td><td>34,298</td><td>13,724</td><td>20,574</td><td>113,177</td><td>87,280</td><td>5,730</td><td>20,167</td></tr><tr><td>Dec.</td><td>498,993</td><td>318,845</td><td>137,344</td><td>181,501</td><td>11,110</td><td>2,723</td><td>493</td><td>7,894</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</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 Oift</th><th>Alcoholic beverages</th><th>Tobacco</th><th>Stamp</th><th>Manufacturers' excise</th><th>Miscellaneous</th></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>-</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>147,156</td><td>-</td><td>371,423</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>526,222</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>-</td><td>71,637</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>6,073</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>6,217</td><td>-</td></tr><tr><td>1939</td><td>2,256,031</td><td>127,203</td><td>360,715</td><td>587,800</td><td>580,159</td><td>41,083</td><td>396,891</td><td>162,180</td><td>6,683</td><td>-</td></tr><tr><td>1938-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>197</td><td>-</td></tr><tr><td>Feb.</td><td>149,585</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>188,771</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><tr><td>Apr.</td><td>170,444</td><td>141</td><td>33,626</td><td>46,277</td><td>42,539</td><td>2,962</td><td>31,750</td><td>13,149</td><td>566</td><td>-</td></tr><tr><td>May.</td><td>176,894</td><td>180</td><td>22,533</td><td>49,464</td><td>53,106</td><td>3,070</td><td>35,251</td><td>13,290</td><td>666</td><td>-</td></tr><tr><td>June.</td><td>197,695</td><td>131</td><td>36,177</td><td>54,982</td><td>56,506</td><td>2,716</td><td>34,627</td><td>12,556</td><td>831</td><td>-</td></tr><tr><td>July.</td><td>183,111</td><td>1,937</td><td>24,767</td><td>51,655</td><td>48,629</td><td>2,602</td><td>40,038</td><td>13,483</td><td>527</td><td>-</td></tr><tr><td>Aug.</td><td>265,886</td><td>74,524</td><td>29,471</td><td>53,113</td><td>56,980</td><td>3,261</td><td>34,440</td><td>11,097</td><td>592</td><td>-</td></tr><tr><td>Sept.</td><td>280,095</td><td>52,041</td><td>56,154</td><td>56,519</td><td>51,128</td><td>3,194</td><td>44,548</td><td>16,511</td><td>553</td><td>-</td></tr><tr><td>Oct.</td><td>186,987</td><td>1,984</td><td>29,185</td><td>56,363</td><td>53,087</td><td>4,584</td><td>28,635</td><td>13,149</td><td>554</td><td>-</td></tr><tr><td>Nov.</td><td>191,510</td><td>367</td><td>25,525</td><td>61,020</td><td>49,976</td><td>3,127</td><td>34,196</td><td>17,299</td><td>630</td><td>-</td></tr><tr><td>Dec.</td><td>168,030</td><td>241</td><td>21,320</td><td>51,197</td><td>43,702</td><td>2,921</td><td>36,018</td><td>12,631</td><td>1,008</td><td>-</td></tr></table>
1/ Including excess-profits tax collections.
2/ For the period prior to September 1939 the data in the columns entitled "Insurance Contributions Act" and "Unemployment Tax Act" represent collections under Titles VIII and IX, respectively, of the Social Security Act.
3/ 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 1939
DOLLARS Billions
By Principal Sources
MONTHLY, JULY 1938 TO DATE
DOLLARS Millions
By Principal Sources
12
13
Receipts and Expenditures under Social Security Act
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>Fiscal year or month</th><th colspan="3">Receipts</th><th colspan="6">Expenditures</th></tr><tr><th></th><th>Employment taxes 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>Unemployment compensation administration</th><th>Grants to States Old-Age Assistance, etc.</th><th>Total grants to states</th><th>Refunds to states collected under Title IX, Sec. 901 2/</th><th>Transfers to Old-Age Reserve Accounts (Title II)</th><th>Total Expenditures</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>.9</td><td>26.9</td><td>27.8</td><td>-</td><td>-</td><td>28.4</td></tr><tr><td>1937</td><td>194.3</td><td>57.8</td><td>252.2</td><td>15.8</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</td><td>530.4</td><td>100.9</td><td>631.2</td><td>21.3</td><td>58.9</td><td>261.4</td><td>320.3</td><td>-</td><td>503.0</td><td>844.6</td></tr><tr><td>1938-Deo.</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>1939-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>Apr.</td><td>27.1</td><td>2.8</td><td>29.9</td><td>1.8</td><td>9.0</td><td>26.0</td><td>35.0</td><td>-</td><td>55.0</td><td>91.8</td></tr><tr><td>May.</td><td>109.1</td><td>9.1</td><td>118.2</td><td>1.8</td><td>4.4</td><td>26.1</td><td>30.5</td><td>-</td><td>50.0</td><td>82.3</td></tr><tr><td>June.</td><td>3.3</td><td>.7</td><td>4.0</td><td>1.8</td><td>5.3</td><td>10.3</td><td>15.6</td><td>-</td><td>56.0</td><td>73.4</td></tr><tr><td>July.</td><td>32.7</td><td>2.7</td><td>35.4</td><td>1.7</td><td>8.8</td><td>32.5</td><td>41.3</td><td>-</td><td>43.0</td><td>86.0</td></tr><tr><td>Aug.</td><td>106.6</td><td>8.1</td><td>114.6</td><td>1.9</td><td>7.4</td><td>26.3</td><td>33.7</td><td>-</td><td>48.0</td><td>83.7</td></tr><tr><td>Sept.</td><td>2.5</td><td>.5</td><td>3.0</td><td>1.9</td><td>2.3</td><td>15.3</td><td>17.6</td><td>-</td><td>43.0</td><td>62.5</td></tr><tr><td>Oct.</td><td>31.4</td><td>2.9</td><td>34.4</td><td>.9</td><td>11.1</td><td>32.6</td><td>43.7</td><td>-</td><td>43.0</td><td>87.6</td></tr><tr><td>Nov.</td><td>117.5</td><td>8.0</td><td>125.5</td><td>1.8</td><td>1.0</td><td>21.0</td><td>22.1</td><td>-</td><td>43.0</td><td>66.9</td></tr><tr><td>Dec.</td><td>4.1</td><td>.5</td><td>4.7</td><td>1.8</td><td>1.2</td><td>16.6</td><td>17.8</td><td>-</td><td>48.0</td><td>67.6</td></tr></table>
Note: Figures in this and four succeeding tables are rounded to nearest tens 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 and Railroad Retirement Acts. Does not include administrative expenses payable from other appropriations. The principal agencies in the latter group are the Bureau of Internal Revenue of the Treasury Department, and the Public Health Service and the Office of Education of the Federal Security Agency.
2/ Second Deficiency Appropriation Act, fiscal year 1938, approved June 25, 1938, carried an appropriation of $40,561,886.43, pursuant to authorization of August 24, 1937, for making refund to certain States of portions of Federal employers' tax for 1936 collected under Title IX of the Social Security Act.
Old-Age Reserve Account
(In millions of dollars - on basis of daily Treasury statements, unrevied)
<table><tr><th rowspan="2">Cumulative as of end of Fiscal Year or month</th><th colspan="4">Receipts</th><th rowspan="2">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Transfers from general fund</th><th>Appropriations by Congress Balance - available for transfers</th><th>Total</th><th>Interest on Investments</th><th>Total</th><th>Investments</th><th>Unexpended To credit of appropriations 1/</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></tr><tr><td>1937</td><td>265.0</td><td>-</td><td>265.0</td><td>2.3</td><td>267.3</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>777.2</td><td>662.3</td><td>113.0</td><td>1.9</td></tr><tr><td>1939</td><td>1,155.0</td><td>-</td><td>1,155.0</td><td>44.6</td><td>1,199.6</td><td>1,180.3</td><td>1,177.2</td><td>.1</td><td>3.0</td></tr><tr><td>1939-July</td><td>1,198.0</td><td>507.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>20.7</td><td>1,728.9</td><td>1,220.2</td><td>507.1</td><td>1.6</td></tr><tr><td>Aug.</td><td>1,246.0</td><td>459.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>22.0</td><td>1,727.6</td><td>1,263.2</td><td>459.1</td><td>5.3</td></tr><tr><td>Sept.</td><td>1,289.0</td><td>416.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>22.7</td><td>1,726.9</td><td>1,306.2</td><td>416.1</td><td>4.6</td></tr><tr><td>Oct.</td><td>1,332.0</td><td>373.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>23.6</td><td>1,726.0</td><td>1,349.2</td><td>373.1</td><td>3.8</td></tr><tr><td>Nov.</td><td>1,375.0</td><td>330.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>24.4</td><td>1,725.2</td><td>1,392.2</td><td>330.1</td><td>2.9</td></tr><tr><td>Deco.</td><td>1,423.0</td><td>282.0</td><td>1,705.0</td><td>44.6</td><td>1,749.6</td><td>25.2</td><td>1,724.4</td><td>1,435.2</td><td>282.1</td><td>7.1</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 rowspan="2">Cumulative as of end of fiscal year or month</th><th colspan="5">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Deposits by States 1/</th><th>Deposits by Railroad Retirement Board</th><th>Advanced from Appropriations</th><th>Interest on Investments</th><th>Total Receipts</th><th>With drawals by States</th><th>Railroad unemployment benefit payments</th><th>Total expenditures</th><th>Total</th><th>Investments</th><th>Trust account</th><th>Disbursing account (Railroad unemployment benefits and refunds</th></tr><tr><td>1936</td><td>18.9</td><td>-</td><td>-</td><td>.1</td><td>18.9</td><td>-</td><td>-</td><td>-</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>310.6</td><td>-</td><td>-</td><td>2.8</td><td>313.4</td><td>1.0</td><td>-</td><td>1.0</td><td>312.4</td><td>312.3</td><td>.1</td><td>-</td></tr><tr><td>1938</td><td>1,058.2</td><td>-</td><td>-</td><td>18.0</td><td>1,076.2</td><td>192.0</td><td>-</td><td>192.0</td><td>884.2</td><td>872.0</td><td>12.2</td><td>-</td></tr><tr><td>1939</td><td>1,869.5</td><td>-</td><td>-</td><td>44.8</td><td>1,914.3</td><td>633.8</td><td>-</td><td>633.8</td><td>1,280.5</td><td>1,267.0</td><td>13.5</td><td>-</td></tr><tr><td>1939-July</td><td>1,912.1</td><td>.3</td><td>15.0 2/</td><td>44.9</td><td>1,972.2</td><td>675.4</td><td>.1</td><td>675.4</td><td>1,296.8</td><td>1,253.0</td><td>28.9</td><td>14.9</td></tr><tr><td>Aug.</td><td>2,066.3</td><td>.3</td><td>15.0 2/</td><td>44.9</td><td>2,126.5</td><td>715.1</td><td>.9</td><td>716.0</td><td>1,410.4</td><td>1,382.0</td><td>14.4</td><td>14.1</td></tr><tr><td>Sept.</td><td>2,079.0</td><td>.3</td><td>15.0 2/</td><td>45.0</td><td>2,139.3</td><td>753.6</td><td>2.2</td><td>755.8</td><td>1,383.5</td><td>1,363.0</td><td>7.7</td><td>12.8</td></tr><tr><td>Oct.</td><td>2,133.1</td><td>.6</td><td>15.0 2/</td><td>45.0</td><td>2,193.7</td><td>776.5</td><td>3.3</td><td>779.8</td><td>1,413.9</td><td>1,370.0</td><td>32.2</td><td>11.7</td></tr><tr><td>Nov.</td><td>2,276.3</td><td>1.2</td><td>15.0 2/</td><td>45.0</td><td>2,337.5</td><td>805.1</td><td>4.2</td><td>809.3</td><td>1,528.2</td><td>1,512.0</td><td>5.4</td><td>10.8</td></tr><tr><td>Dec.</td><td>2,290.8</td><td>15.1</td><td>15.0 2/</td><td>45.1</td><td>2,366.0</td><td>836.0</td><td>5.2</td><td>841.2</td><td>1,524.8</td><td>1,509.0</td><td>6.0</td><td>9.5</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.
2/ Advanced to Railroad Unemployment Insurance Account, pursuant to section 10 (d) of the Railroad Unemployment Insurance Act of June 25, 1938. Such amounts advanced to be repaid on or before January 1, 1941.
14
Receipts and Expenditures Under Railroad Retirement and Railroad Unemployment Insurance Acts
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th>Fiscal year or month</th><th>Receipts</th><th colspan="4">Expenditures</th></tr><tr><th></th><th>Taxes upon carriers and their employees</th><th>Administrative Expenses</th><th>Transfers to Railroad Retirement Aot.</th><th>Transfers to Railroad Un-employment insur-ance account</th><th>Total Expendi-tures</th></tr><tr><td>1936</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.4</td><td>1.5</td><td>-</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>-</td><td>149.0</td></tr><tr><td>1939</td><td>109.3</td><td>3.3</td><td>107.1</td><td>-</td><td>110.4</td></tr><tr><td>1938-Deo.</td><td>-</td><td>.3</td><td>16.5</td><td>-</td><td>16.8</td></tr><tr><td>1939-Jan.</td><td>.9</td><td>.3</td><td>1.5</td><td>-</td><td>1.8</td></tr><tr><td>Feb.</td><td>27.5</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Mar.</td><td>-</td><td>.3</td><td>18.0</td><td>-</td><td>18.3</td></tr><tr><td>Apr.</td><td>.4</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>May.</td><td>6.1</td><td>.3</td><td>.1</td><td>-</td><td>.4</td></tr><tr><td>June.</td><td>21.1</td><td>.4</td><td>-</td><td>-</td><td>.4</td></tr><tr><td>July.</td><td>.7</td><td>.5</td><td>21.9</td><td>15.0</td><td>37.4</td></tr><tr><td>Aug.</td><td>4.4</td><td>.6</td><td>18.1</td><td>-</td><td>18.7</td></tr><tr><td>Sept.</td><td>23.7</td><td>.6</td><td>7.1</td><td>-</td><td>7.7</td></tr><tr><td>Oct.</td><td>1.2</td><td>.7</td><td>10.0</td><td>-</td><td>10.7</td></tr><tr><td>Nov.</td><td>4.2</td><td>.5</td><td>10.0</td><td>-</td><td>10.5</td></tr><tr><td>Deo.</td><td>24.5</td><td>1.3</td><td>10.0</td><td>-</td><td>11.3</td></tr></table>
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 month</th><th colspan="4">Receipts</th><th rowspan="2">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Transfers from general fund 1/</th><th>Appropriations by Congress Balance available for transfers</th><th>Total</th><th>Interest on Investments</th><th>Total</th><th>Investments</th><th>To credit of appropriations 2/</th><th>To credit of disbursing officer</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>-</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>1.1</td><td>146.5</td><td>1.4</td><td>147.9</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939</td><td>253.5</td><td>11.3</td><td>264.8</td><td>3.6</td><td>268.4</td><td>82.8</td><td>67.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1939-July</td><td>275.4</td><td>109.5</td><td>384.9</td><td>3.6</td><td>388.5</td><td>193.8</td><td>69.1</td><td>111.5</td><td>13.3</td></tr><tr><td>Aug.</td><td>293.5</td><td>91.4</td><td>384.9</td><td>3.6</td><td>388.5</td><td>184.7</td><td>77.2</td><td>93.4</td><td>14.2</td></tr><tr><td>Sept.</td><td>300.7</td><td>84.2</td><td>384.9</td><td>3.6</td><td>388.5</td><td>175.6</td><td>77.2</td><td>84.3</td><td>14.1</td></tr><tr><td>Oct.</td><td>310.7</td><td>74.2</td><td>384.9</td><td>3.6</td><td>388.5</td><td>166.2</td><td>77.2</td><td>74.3</td><td>14.7</td></tr><tr><td>Nov.</td><td>320.7</td><td>64.2</td><td>384.9</td><td>3.6</td><td>388.5</td><td>156.8</td><td>77.2</td><td>64.2</td><td>15.4</td></tr><tr><td>Dec.</td><td>330.7</td><td>54.2</td><td>384.9</td><td>3.6</td><td>388.5</td><td>147.5</td><td>77.2</td><td>54.2</td><td>16.1</td></tr></table>
1/ Transfers from general fund were not reflected until July 1, 1937.
2/ Includes balances of appropriation available for transfers subsequent to June 30, 1937.
15
Cash Income and Outgo of the Treasury
(These figures are not intended to reflect the budgetary position of the Government. They will not agree with budgetary figures on receipts, expenditure 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 not been revised in accordance with that explanation.)
(In millions of dollars)
<table><tr><th></th><th>1938</th><th colspan="12">1939</th></tr><tr><th></th><th>Dec.</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>CASH INCOME</td><td></td><td></td><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>Budget:</td><td></td><td></td><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>Income tax.</td><td>481</td><td>48</td><td>56</td><td>506</td><td>40</td><td>43</td><td>355</td><td>42</td><td>37</td><td>328</td><td>37</td><td>34</td><td>318</td></tr><tr><td>Miscellaneous internal revenue.</td><td>180</td><td>172</td><td>142</td><td>183</td><td>155</td><td>187</td><td>193</td><td>187</td><td>217</td><td>311</td><td>198</td><td>191</td><td>171</td></tr><tr><td>Taxes under Social Security Act.</td><td>3</td><td>42</td><td>154</td><td>4</td><td>30</td><td>118</td><td>4</td><td>35</td><td>115</td><td>3</td><td>34</td><td>125</td><td>5</td></tr><tr><td>Taxes upon carriers and their employees.</td><td>-</td><td>1</td><td>28</td><td>-</td><td>-</td><td>6</td><td>21</td><td>1</td><td>4</td><td>24</td><td>1</td><td>4</td><td>23</td></tr><tr><td>Customs.</td><td>25</td><td>24</td><td>22</td><td>29</td><td>29</td><td>25</td><td>25</td><td>26</td><td>27</td><td>36</td><td>32</td><td>29</td><td>28</td></tr><tr><td>Other.</td><td>15</td><td>18</td><td>15</td><td>15</td><td>15</td><td>18</td><td>15</td><td>16</td><td>20</td><td>17</td><td>19</td><td>24</td><td>24</td></tr><tr><td>Subtotal.</td><td>704</td><td>305</td><td>417</td><td>737</td><td>269</td><td>397</td><td>613</td><td>307</td><td>420</td><td>719</td><td>321</td><td>407</td><td>569</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><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment trust fund (deposits by States).</td><td>37</td><td>39</td><td>148</td><td>34</td><td>34</td><td>137</td><td>17</td><td>43</td><td>154</td><td>13</td><td>54</td><td>144</td><td>17</td></tr><tr><td>Trust accounts.</td><td>16</td><td>20</td><td>16</td><td>25</td><td>20</td><td>18</td><td>14</td><td>19</td><td>15</td><td>20</td><td>24</td><td>16</td><td>29</td></tr><tr><td>Subtotal.</td><td>53</td><td>59</td><td>164</td><td>59</td><td>54</td><td>155</td><td>31</td><td>62</td><td>169</td><td>33</td><td>78</td><td>160</td><td>46</td></tr><tr><td>Total cash income.</td><td>757</td><td>364</td><td>581</td><td>796</td><td>323</td><td>552</td><td>644</td><td>369</td><td>589</td><td>752</td><td>399</td><td>567</td><td>615</td></tr><tr><td>CASH OUTGO</td><td></td><td></td><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>Budget:</td><td></td><td></td><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>National defense.</td><td>99</td><td>103</td><td>84</td><td>98</td><td>96</td><td>101</td><td>106</td><td>109</td><td>114</td><td>108</td><td>115</td><td>118</td><td>125</td></tr><tr><td>Social Security Act (grants and administrative expenses).</td><td>14</td><td>33</td><td>26</td><td>23</td><td>37</td><td>32</td><td>17</td><td>41</td><td>35</td><td>19</td><td>45</td><td>24</td><td>20</td></tr><tr><td>Interest on the public debt.</td><td>170</td><td>14</td><td>15</td><td>118</td><td>64</td><td>8</td><td>184</td><td>11</td><td>14</td><td>148</td><td>65</td><td>12</td><td>185</td></tr><tr><td>Public Works.</td><td>120</td><td>99</td><td>102</td><td>93</td><td>97</td><td>97</td><td>102</td><td>96</td><td>106</td><td>106</td><td>101</td><td>95</td><td>94</td></tr><tr><td>Agricultural aid.</td><td>66</td><td>65</td><td>91</td><td>135</td><td>132</td><td>139</td><td>96</td><td>69</td><td>63</td><td>80</td><td>102</td><td>129</td><td>121</td></tr><tr><td>National Youth Administration.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>5</td><td>5</td><td>6</td><td>8</td><td>10</td></tr><tr><td>Works Progress Administration.</td><td>219</td><td>185</td><td>160</td><td>201</td><td>173</td><td>173</td><td>167</td><td>149</td><td>134</td><td>106</td><td>113</td><td>112</td><td>124</td></tr><tr><td>Other.</td><td>122</td><td>139</td><td>131</td><td>132</td><td>127</td><td>142</td><td>134</td><td>159</td><td>161</td><td>159</td><td>159</td><td>138</td><td>148</td></tr><tr><td>Subtotal.</td><td>810</td><td>638</td><td>609</td><td>800</td><td>726</td><td>692</td><td>806</td><td>636</td><td>632</td><td>731</td><td>706</td><td>636</td><td>827</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><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation.</td><td>8</td><td>38</td><td>15</td><td>6</td><td>57</td><td>-</td><td>85</td><td>12</td><td>25</td><td>19</td><td>10</td><td>22</td><td>6</td></tr><tr><td>Commodity Credit Corporation.</td><td>15</td><td>10</td><td>-</td><td>2</td><td>5</td><td>4</td><td>1</td><td>6</td><td>236</td><td>5</td><td>19</td><td>25</td><td>11</td></tr><tr><td>Unemployment trust fund.</td><td>19</td><td>33</td><td>36</td><td>44</td><td>41</td><td>32</td><td>42</td><td>42</td><td>41</td><td>39</td><td>24</td><td>30</td><td>32</td></tr><tr><td>Old-age reserve account.</td><td>1</td><td>1</td><td>1</td><td>1</td><td>2</td><td>1</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Railroad retirement account.</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Other.</td><td>29</td><td>4</td><td>27</td><td>19</td><td>1</td><td>18</td><td>65</td><td>57</td><td>42</td><td>84</td><td>10</td><td>24</td><td>82</td></tr><tr><td>Subtotal.</td><td>81</td><td>87</td><td>58</td><td>31</td><td>1</td><td>56</td><td>32</td><td>13</td><td>354</td><td>157</td><td>73</td><td>67</td><td>129</td></tr><tr><td>Redemption of adjusted service bonds.</td><td>3</td><td>3</td><td>2</td><td>3</td><td>3</td><td>2</td><td>4</td><td>3</td><td>3</td><td>3</td><td>2</td><td>2</td><td>1</td></tr><tr><td>Total cash outgo.</td><td>894</td><td>728</td><td>669</td><td>834</td><td>730</td><td>750</td><td>843</td><td>652</td><td>989</td><td>891</td><td>781</td><td>705</td><td>957</td></tr><tr><td>EXCESS OF CASH OUTGO.</td><td>137</td><td>364</td><td>88</td><td>38</td><td>407</td><td>198</td><td>199</td><td>283</td><td>400</td><td>139</td><td>382</td><td>138</td><td>342</td></tr></table>
Excess of credits, deduct.
Cash Income and Outgo and Excess of Cash Outgo
(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><th>Total</th></tr><tr><td>Cash income</td><td></td><td></td><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><td>3,620</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><td>4,047</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><td>4,606</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><td>7,063</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><td>6,992</td></tr><tr><td>1939</td><td>364</td><td>581</td><td>796</td><td>323</td><td>552</td><td>644</td><td>369</td><td>589</td><td>752</td><td>399</td><td>567</td><td>615</td><td>6,551</td></tr><tr><td>Cash outgo</td><td></td><td></td><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>525</td><td>520</td><td>687</td><td>598</td><td>656</td><td>7,600</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><td>7,045</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><td>8,742</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>679</td><td>7,394</td></tr><tr><td>1938</td><td>537</td><td>481</td><td>745</td><td>774</td><td>665</td><td>834</td><td>589</td><td>783</td><td>852</td><td>829</td><td>702</td><td>894</td><td>8,685</td></tr><tr><td>1939</td><td>728</td><td>669</td><td>834</td><td>730</td><td>750</td><td>843</td><td>652</td><td>989</td><td>891</td><td>781</td><td>705</td><td>957</td><td>9,529</td></tr><tr><td>Excess of cash outgo</td><td></td><td></td><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>229</td><td>58</td><td>407</td><td>353</td><td>249</td><td>3,980</td></tr><tr><td>1935</td><td>239</td><td>299</td><td>-44</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><td>2,998</td></tr><tr><td>1936</td><td>182</td><td>249</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>129</td><td>4,136</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>-251</td><td>331</td></tr><tr><td>1938</td><td>142</td><td>21</td><td>-293</td><td>455</td><td>146</td><td>10</td><td>224</td><td>151</td><td>85</td><td>434</td><td>181</td><td>137</td><td>1,693</td></tr><tr><td>1939</td><td>364</td><td>88</td><td>38</td><td>407</td><td>198</td><td>199</td><td>283</td><td>400</td><td>139</td><td>382</td><td>138</td><td>342</td><td>2,978</td></tr></table>
Nota:
Negative figures denote excess of cash income.
CASH INCOME AND OUTGO AND NET CASH OUTGO
January 1934 to Date
16
TREASURY GENERAL FUND AND PUBLIC DEBT
-17-
18
Composition of General Fund
(In millions of dollars – on basis of daily Treasury statements, unrevised)
<table><tr><th>End of fiscal year or month</th><th colspan="4">Balance</th><th colspan="5">Current assets</th><th rowspan="2">Current liabilities</th></tr><tr><th></th><th>Total</th><th>"Working" balance</th><th>Seign- iorage</th><th>Incre- ment 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 de- posits a/c sales of Gov't. Secs.</th><th>All other deposits and col- lections</th></tr><tr><td>1933</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</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</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</td><td>2,682</td><td>2,225</td><td>316</td><td>141</td><td>-</td><td>2,936</td><td>865</td><td>862</td><td>1,151</td><td>58</td><td>254</td></tr><tr><td>1937</td><td>2,554</td><td>970</td><td>356</td><td>141</td><td>1,087</td><td>2,709</td><td>1,863</td><td>141</td><td>649</td><td>55</td><td>156</td></tr><tr><td>1938</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>1939</td><td>2,838</td><td>2,160</td><td>536</td><td>142</td><td>-</td><td>3,087</td><td>1,212</td><td>1,022</td><td>777</td><td>76</td><td>249</td></tr><tr><td>1938-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><tr><td>Apr.</td><td>3,044</td><td>2,380</td><td>522</td><td>142</td><td>-</td><td>3,230</td><td>1,329</td><td>975</td><td>858</td><td>68</td><td>186</td></tr><tr><td>May.</td><td>2,924</td><td>2,254</td><td>528</td><td>142</td><td>-</td><td>3,106</td><td>1,272</td><td>971</td><td>792</td><td>71</td><td>182</td></tr><tr><td>June.</td><td>2,838</td><td>2,150</td><td>536</td><td>142</td><td>-</td><td>3,087</td><td>1,212</td><td>1,022</td><td>777</td><td>76</td><td>249</td></tr><tr><td>July.</td><td>2,447</td><td>1,761</td><td>544</td><td>142</td><td>-</td><td>2,800</td><td>1,015</td><td>928</td><td>771</td><td>86</td><td>353</td></tr><tr><td>Aug.</td><td>2,231</td><td>1,539</td><td>550</td><td>142</td><td>-</td><td>2,576</td><td>986</td><td>748</td><td>761</td><td>81</td><td>345</td></tr><tr><td>Sept.</td><td>2,178</td><td>1,481</td><td>554</td><td>143</td><td>-</td><td>2,334</td><td>879</td><td>586</td><td>758</td><td>111</td><td>156</td></tr><tr><td>Oct.</td><td>1,913</td><td>1,213</td><td>558</td><td>142</td><td>-</td><td>2,077</td><td>890</td><td>318</td><td>756</td><td>113</td><td>164</td></tr><tr><td>Nov.</td><td>2,165</td><td>1,462</td><td>561</td><td>142</td><td>-</td><td>2,350</td><td>1,007</td><td>471</td><td>755</td><td>117</td><td>185</td></tr><tr><td>Dec.</td><td>2,476</td><td>1,768</td><td>565</td><td>143</td><td>-</td><td>2,666</td><td>1,050</td><td>673</td><td>825</td><td>119</td><td>190</td></tr></table>
Statement of the Outstanding Public Debt on June 30, 1939 and Dec. 31, 1939
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th></th><th>June 30, 1939</th><th>Dec. 31, 1939</th><th>Increase (+) Decreases (-)</th><th></th><th>June 30, 1939</th><th>Dec. 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>196</td><td>196</td><td>-</td><td>Government Life Insurance Fund.....................</td><td>537</td><td>503</td><td>-34</td></tr><tr><td>Treasury bonds.....................</td><td>25,218</td><td>26,881</td><td>+1,663</td><td>Old-Age Reserve Account.....................</td><td>1,177</td><td>1,435</td><td>+258</td></tr><tr><td>U. S. Saving bonds.....................</td><td>1,868</td><td>2,209</td><td>+341</td><td>Railroad Retirement Account.....................</td><td>67</td><td>77</td><td>+10</td></tr><tr><td>Adjusted Service bonds.....................</td><td>283</td><td>271</td><td>-12</td><td>Government retirement funds.....................</td><td>473</td><td>549</td><td>+76</td></tr><tr><td>Treasury notes.....................</td><td>7,243</td><td>6,203</td><td>-1,040</td><td>Adjusted Service Certificate Fund.....................</td><td>20</td><td>15</td><td>-5</td></tr><tr><td>Treasury bills.....................</td><td>1,308</td><td>1,455</td><td>+147</td><td>Unemployment Trust Fund.....................</td><td>1,267</td><td>1,509</td><td>+242</td></tr><tr><td>Matured debt on which interest has ceased.....................</td><td>142</td><td>98</td><td>-44</td><td>Postal Savings System.....................</td><td>128</td><td>72</td><td>-56</td></tr><tr><td>Debt bearing no interest.....................</td><td>411</td><td>398</td><td>-13</td><td>Federal Deposit Insurance Corporation.....................</td><td>101</td><td>71</td><td>-30</td></tr><tr><td>Total Market issues, etc.....................</td><td>36,669</td><td>37,711</td><td>+1,042</td><td>Total Special issues.....................</td><td>3,770</td><td>4,231</td><td>+461</td></tr><tr><td></td><td></td><td></td><td></td><td>Total.....................</td><td>40,439</td><td>41,942</td><td>+1,503</td></tr></table>
Public Debt Accounts
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Receipts</th><th colspan="5">Expenditures</th></tr><tr><th>Cash</th><th>Adjusted Serv. Bonds</th><th>Exchanges</th><th>Special Series</th><th>Total</th><th>Cash</th><th>Exchanges</th><th>Special Series</th><th>Total</th><th>Excess of Receipts</th></tr><tr><td>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>1939</td><td>7,475.1</td><td>6.5</td><td>3,034.9</td><td>2,567.1</td><td>13,083.6</td><td>5,301.0</td><td>3,034.9</td><td>1,147.2.9</td><td>9,808.8</td><td>3,274.8</td></tr><tr><td>1938-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><tr><td>Apr.</td><td>459.0</td><td>.4</td><td>.1</td><td>68.0</td><td>527.5</td><td>419.8</td><td>.1</td><td>29.9</td><td>449.8</td><td>77.7</td></tr><tr><td>May</td><td>566.3</td><td>.4</td><td>-</td><td>185.8</td><td>752.5</td><td>521.7</td><td>-</td><td>11.9</td><td>533.6</td><td>218.9</td></tr><tr><td>June</td><td>472.2</td><td>.5</td><td>415.5</td><td>1,413.8</td><td>2,302.0</td><td>418.8</td><td>415.5</td><td>1,310.0</td><td>2,144.3</td><td>157.7</td></tr><tr><td>July</td><td>491.2</td><td>.4</td><td>-</td><td>165.7</td><td>657.3</td><td>418.2</td><td>-</td><td>17.4</td><td>435.6</td><td>221.7</td></tr><tr><td>Aug.</td><td>576.0</td><td>.4</td><td>-</td><td>180.1</td><td>756.5</td><td>522.6</td><td>-</td><td>3.9</td><td>526.5</td><td>230.0</td></tr><tr><td>Sept.</td><td>448.4</td><td>.5</td><td>-</td><td>43.0</td><td>491.9</td><td>451.4</td><td>-</td><td>74.1</td><td>525.5</td><td>-33.6</td></tr><tr><td>Oct.</td><td>551.0</td><td>.5</td><td>-</td><td>55.0</td><td>606.5</td><td>419.2</td><td>-</td><td>9.0</td><td>428.2</td><td>178.3</td></tr><tr><td>Nov.</td><td>607.6</td><td>.6</td><td>515.2</td><td>188.4</td><td>1,311.8</td><td>524.8</td><td>515.2</td><td>2.8</td><td>1,042.8</td><td>269.0</td></tr><tr><td>Dec.</td><td>1,122.7</td><td>1.4</td><td>1,301.0</td><td>96.0</td><td>2,521.1</td><td>423.3</td><td>1,301.0</td><td>159.4</td><td>1,883.7</td><td>637.4</td></tr></table>
19
Statement Showing Details of Major Financing Operations of the Treasury for Fiscal Years 1938, 1939 and 1940
(In millions of dollars)
<table><tr><th>Date of issue</th><th>Rate Per Cent</th><th>Term</th><th>Call and maturity dates</th><th colspan="2">Amount issued</th><th>Amount of cash subscrip-tions tendered</th><th colspan="5">New securities allotted</th></tr><tr><th></th><th></th><th></th><th></th><th>Treasury bonds</th><th>Treasury notes and certifi-cates</th><th></th><th>For Cash</th><th colspan="2">Amount of exchanges</th><th colspan="3">In exchange for</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Treasury bonds</th><th>Treasury notes and certifi-cates</th><th>Date of issue</th><th>Rate Per Cent</th><th>Call or maturity date</th></tr><tr><td>1937-Sept. 15.</td><td>1-1/4</td><td>1 yr. 3 mos.</td><td>Dec. 15, 1938</td><td>-</td><td>433</td><td>-</td><td>-</td><td>-</td><td>433</td><td>Sept. 15, 1932</td><td>3-1/4</td><td>Sept. 15,1937</td></tr><tr><td>Sept. 15.</td><td>2</td><td>5 years</td><td>Sept.15, 1942</td><td>-</td><td>342</td><td>-</td><td>-</td><td>-</td><td>342</td><td>Sept. 15, 1932</td><td>3-1/4</td><td>Sept. 15,1937</td></tr><tr><td>Dec. 15.</td><td>2-1/2</td><td>8 years</td><td>Dec. 15, 1945</td><td>541</td><td>-</td><td>4,084</td><td>294</td><td>-</td><td>247</td><td>Feb. 1, 1933</td><td>2-5/8</td><td>Feb. 1,1938</td></tr><tr><td>Dec. 15.</td><td>1-3/4</td><td>5 years</td><td>Dec. 15, 1942</td><td>-</td><td>232</td><td>2,702</td><td>219</td><td>-</td><td>13</td><td>Feb. 1, 1933</td><td>2-5/8</td><td>Feb. 1,1938</td></tr><tr><td>1938-Mar. 15.</td><td>2-1/2</td><td>10 years 6 mos.</td><td>Sept.15, 1948</td><td>451</td><td>-</td><td>-</td><td>-</td><td>-</td><td>451</td><td>Mar. 15, 1934</td><td>3</td><td>Mar. 15,1938</td></tr><tr><td>June 15.</td><td>2-3/4</td><td>20-25 years</td><td>June 15, 1958 June 15, 1963</td><td>919</td><td>-</td><td>-</td><td>-</td><td>-</td><td>572 347</td><td>June 15, 1933 Sept. 15, 1934</td><td>2-7/8 2-1/2</td><td>June 15,1938 Sept. 15,1938</td></tr><tr><td>June 15.</td><td>1-1/8</td><td>5 years</td><td>June 15, 1943</td><td>-</td><td>268</td><td>-</td><td>-</td><td>-</td><td>36 232</td><td>June 15, 1933 Sept. 15, 1934</td><td>2-7/8 2-1/2</td><td>June 15,1938 Sept. 15,1938</td></tr><tr><td>Sept. 15.</td><td>2-1/2</td><td>12-14 years</td><td>Sept.15, 1950 Sept.15, 1952</td><td>867</td><td>-</td><td>4,487</td><td>462</td><td>-</td><td>405</td><td>Sept. 15, 1937</td><td>1-1/4</td><td>Dec. 15,1938</td></tr><tr><td>Sept. 15. (Add. 6/15/38)</td><td>1-1/8</td><td>5 years</td><td>June 15, 1943</td><td>-</td><td>361</td><td>3,062</td><td>342</td><td>-</td><td>19</td><td>Sept. 15, 1937</td><td>1-1/4</td><td>Dec. 15,1938</td></tr><tr><td>Dec. 15.</td><td>2-3/4</td><td>22-27 years</td><td>Dec. 15, 1960 Dec. 15, 1965</td><td>591</td><td>-</td><td>5,732</td><td>403</td><td>-</td><td>188</td><td>Sept. 16, 1935</td><td>1-1/2</td><td>Mar. 15,1939</td></tr><tr><td>Dec. 15.</td><td>2</td><td>9 years</td><td>Dec. 15, 1947</td><td>701</td><td>-</td><td>-</td><td>-</td><td>-</td><td>701</td><td>Sept. 16, 1935</td><td>1-1/2</td><td>Mar. 15,1939</td></tr><tr><td>Dec. 15.</td><td>1-1/8</td><td>5 years</td><td>Dec. 15, 1943</td><td>-</td><td>368</td><td>3,647</td><td>329</td><td>-</td><td>39</td><td>Sept. 16, 1935</td><td>1-1/2</td><td>Mar. 15,1939</td></tr><tr><td>1939-Mar. 15. (Add. 12/15/38)</td><td>2-3/4</td><td>22-27 years</td><td>Dec. 15, 1960 Dec. 15, 1965</td><td>894</td><td>-</td><td>-</td><td>-</td><td>-</td><td>894</td><td>June 15, 1934</td><td>2-1/8</td><td>June 15,1939</td></tr><tr><td>Mar. 15. (Add. 9/15/38)</td><td>2-1/2</td><td>12-14 years</td><td>Sept.15, 1950 Sept.15, 1952</td><td>319</td><td>-</td><td>-</td><td>-</td><td>-</td><td>319</td><td>June 15, 1934</td><td>2-1/8</td><td>June 15,1939</td></tr><tr><td>Mar. 15. (Add. 12/15/38)</td><td>1-1/8</td><td>5 years</td><td>Dec. 15, 1943</td><td>-</td><td>53</td><td>-</td><td>-</td><td>-</td><td>53</td><td>June 15, 1934</td><td>2-1/8</td><td>June 15,1939</td></tr><tr><td>June 15.</td><td>3/4</td><td>5 years</td><td>June 15, 1944</td><td>-</td><td>416</td><td>-</td><td>-</td><td>-</td><td>416</td><td>June 15, 1937</td><td>1-3/8</td><td>Sept. 15,1939</td></tr><tr><td>Nov. 1.</td><td>1</td><td>4 years 4 mos.</td><td>Mar. 15, 1944</td><td>-</td><td>515</td><td>-</td><td>-</td><td>-</td><td>515</td><td>July 15, 1935</td><td>1-3/8</td><td>Dec. 15,1939</td></tr><tr><td>Dec. 8.</td><td>2</td><td>9-11 years</td><td>Dec. 15, 1948 Dec. 15, 1950</td><td>571</td><td>-</td><td>6,264</td><td>(521 50*)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dec. 22.</td><td>2-1/4</td><td>12-14 years</td><td>Dec. 15, 1951 Dec. 15, 1953</td><td>1,091</td><td>-</td><td>73</td><td>73**</td><td>-</td><td>1,018</td><td>Mar. 15, 1935</td><td>1-5/8</td><td>Mar. 15,1940</td></tr><tr><td>Dec. 22.</td><td>1</td><td>4 years 9 mos.</td><td>Sept.15, 1944</td><td>-</td><td>283</td><td>-</td><td>-</td><td>-</td><td>283</td><td>Mar. 15, 1935</td><td>1-5/8</td><td>Mar. 15,1940</td></tr></table>
Note: For financings in fiscal years 1934-37 see March Bulletin, pages 16 - 17.
* This amount was sold to Government investment accounts direct, as authorized by the issuing circular No. 626 of November 28, 1939.
** Cash sales direct to Government investment accounts, as authorized by issuing circular No. 627 of December 12, 1939.
20
Holdings of Direct and Guaranteed Interest-Bearing Obligations of the United States Government
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="4">Direct obligations</th><th colspan="3">Guaranteed obligations</th></tr><tr><th colspan="3">Government agencies and trust funds</th><th colspan="2">Other holders</th><th colspan="3">Total direct obligations outstanding</th></tr><tr><th>Special issues</th><th>United States Savings Bonds, 3% Adjusted Service Bonds of 1945, and 2½% Postal Savings Bonds 1/</th><th>Market issues</th><th>Federal Reserve Banks</th><th>United States Savings Bonds and 3½% Adjusted Service Bonds of 1945</th><th>Market issues otherwise held 2/</th><th>Government agencies and trust funds</th><th>Market issues otherwise held</th><th>Total guaranteed obligations outstanding</th></tr><tr><td>1933</td><td>323</td><td>14</td><td>240</td><td>1,998</td><td>-</td><td>19,583</td><td>22,158</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>396</td><td>15</td><td>880</td><td>2,430</td><td>-</td><td>22,759</td><td>26,480</td><td>-</td><td>681</td></tr><tr><td>1935</td><td>633</td><td>17</td><td>967</td><td>2,430</td><td>62</td><td>23,536</td><td>27,645</td><td>378</td><td>3,745</td><td>4,123</td></tr><tr><td>1936</td><td>626</td><td>20</td><td>1,280</td><td>2,430</td><td>1,027</td><td>27,373</td><td>32,756</td><td>391</td><td>4,327</td><td>4,718</td></tr><tr><td>1937</td><td>1,558</td><td>22</td><td>1,618</td><td>2,526</td><td>1,191</td><td>28,888</td><td>35,803</td><td>381</td><td>4,284</td><td>4,665</td></tr><tr><td>1938</td><td>2,676</td><td>25</td><td>1,754</td><td>2,564</td><td>1,559</td><td>28,001</td><td>36,579</td><td>344</td><td>4,509</td><td>4,853</td></tr><tr><td>1939</td><td>3,770</td><td>27</td><td>1,816</td><td>2,551</td><td>2,157</td><td>29,571</td><td>39,892</td><td>295</td><td>5,155</td><td>5,450</td></tr><tr><td>1938-Dec</td><td>3,156</td><td>26</td><td>1,847</td><td>2,564</td><td>1,751</td><td>29,567</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>1,885</td><td>29,561</td><td>39,107</td><td>320</td><td>4,667</td><td>4,987</td></tr><tr><td>Feb</td><td>3,382</td><td>27</td><td>1,860</td><td>2,564</td><td>1,941</td><td>29,557</td><td>39,331</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>1,860</td><td>2,564</td><td>1,998</td><td>29,545</td><td>39,448</td><td>323</td><td>5,087</td><td>5,410</td></tr><tr><td>Apr</td><td>3,492</td><td>27</td><td>1,840</td><td>2,564</td><td>2,045</td><td>29,562</td><td>39,530</td><td>323</td><td>5,087</td><td>5,410</td></tr><tr><td>May</td><td>3,666</td><td>27</td><td>1,805</td><td>2,564</td><td>2,097</td><td>29,596</td><td>39,755</td><td>302</td><td>5,107</td><td>5,409</td></tr><tr><td>June</td><td>3,770</td><td>27</td><td>1,816</td><td>2,551</td><td>2,157</td><td>29,571</td><td>39,892</td><td>295</td><td>5,155</td><td>5,450</td></tr><tr><td>July</td><td>3,918</td><td>27</td><td>1,818</td><td>2,453</td><td>2,234</td><td>29,668</td><td>40,118</td><td>295</td><td>5,185</td><td>5,480</td></tr><tr><td>Aug</td><td>4,094</td><td>28</td><td>1,825</td><td>2,426</td><td>2,297</td><td>29,686</td><td>40,356</td><td>294</td><td>5,195</td><td>5,489</td></tr><tr><td>Sept</td><td>4,063</td><td>28</td><td>1,888</td><td>2,752</td><td>2,330</td><td>29,285</td><td>40,346</td><td>296</td><td>5,160</td><td>5,456</td></tr><tr><td>Oct. 3/</td><td>4,109</td><td>28</td><td>1,887</td><td>2,669</td><td>2,365</td><td>29,468</td><td>40,526</td><td>296</td><td>5,152</td><td>5,448</td></tr><tr><td>Nov. 3/</td><td>4,295</td><td>28</td><td>1,895</td><td>2,526</td><td>2,412</td><td>29,651</td><td>40,807</td><td>279</td><td>5,169</td><td>5,448</td></tr><tr><td>Dec. 3/</td><td>4,231</td><td>28</td><td>2,003</td><td>2,484</td><td>2,480</td><td>30,219</td><td>41,445</td><td>278</td><td>5,170</td><td>5,448</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.
1/ Includes 24% Postal Savings Bonds held by the Postal Savings System.
2/ Includes 24% Postal Savings Bonds held other than by Government agencies and trust funds.
3/ Figures partly estimated.
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(In millions of dollars)
<table><tr><th rowspan="2"></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>24.0</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>-37.1</td><td>-40.4</td><td>1.1</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr></table>
Composition of the Public Debt
(In millions of dollars - on basis of daily Treasury statements, unrevised)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total</th><th colspan="9">Oroes debt</th><th rowspan="2">Balance in general fund</th><th rowspan="2">Gross debt less balance in general fund</th></tr><tr><th colspan="3">Bonds</th><th colspan="2">Notes</th><th colspan="2">Bills and cts. 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>Total</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>1933</td><td>22,539</td><td>22,158</td><td>14,223</td><td>64.2</td><td>4,548</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</td><td>27,053</td><td>26,480</td><td>16,510</td><td>62.4</td><td>6,653</td><td>25.1</td><td>2,921</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</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</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>620</td><td>2,682</td><td>31,097</td></tr><tr><td>1937</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>2,304</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</td><td>37,165</td><td>36,576</td><td>23,599</td><td>64.5</td><td>9,147</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>447</td><td>2,216</td><td>34,949</td></tr><tr><td>1939</td><td>40,439</td><td>39,886</td><td>27,565</td><td>69.1</td><td>7,243</td><td>18.2</td><td>1,308</td><td>3.3</td><td>3,770</td><td>9.5</td><td>142</td><td>411</td><td>2,838</td><td>37,601</td></tr><tr><td>1938-Dec.</td><td>39,427</td><td>38,899</td><td>25,940</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>39,326</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>419</td><td>3,389</td><td>36,596</td></tr><tr><td>Apr.</td><td>40,064</td><td>39,526</td><td>27,455</td><td>69.5</td><td>7,270</td><td>18.4</td><td>1,309</td><td>3.3</td><td>3,492</td><td>8.8</td><td>122</td><td>416</td><td>3,044</td><td>37,019</td></tr><tr><td>May.</td><td>40,282</td><td>39,751</td><td>27,507</td><td>69.2</td><td>7,270</td><td>18.3</td><td>1,308</td><td>3.3</td><td>3,666</td><td>9.2</td><td>117</td><td>414</td><td>2,924</td><td>37,358</td></tr><tr><td>June.</td><td>40,439</td><td>39,886</td><td>27,565</td><td>69.1</td><td>7,243</td><td>18.2</td><td>1,308</td><td>3.3</td><td>3,770</td><td>9.5</td><td>142</td><td>411</td><td>2,838</td><td>37,601</td></tr><tr><td>July.</td><td>40,661</td><td>40,114</td><td>27,644</td><td>68.9</td><td>7,243</td><td>18.1</td><td>1,309</td><td>3.3</td><td>3,918</td><td>9.8</td><td>140</td><td>408</td><td>2,447</td><td>38,214</td></tr><tr><td>Aug.</td><td>40,891</td><td>40,351</td><td>27,707</td><td>68.7</td><td>7,243</td><td>17.9</td><td>1,307</td><td>3.2</td><td>4,094</td><td>10.1</td><td>134</td><td>406</td><td>2,231</td><td>38,660</td></tr><tr><td>Sept.</td><td>40,858</td><td>40,342</td><td>27,741</td><td>68.8</td><td>7,232</td><td>17.9</td><td>1,306</td><td>3.2</td><td>4,063</td><td>10.1</td><td>112</td><td>404</td><td>2,178</td><td>38,680</td></tr><tr><td>Oct.</td><td>41,036</td><td>40,526</td><td>27,780</td><td>68.5</td><td>7,232</td><td>17.8</td><td>1,405</td><td>3.5</td><td>4,109</td><td>10.1</td><td>109</td><td>401</td><td>1,913</td><td>38,123</td></tr><tr><td>Nov.</td><td>41,305</td><td>40,807</td><td>27,826</td><td>68.2</td><td>7,232</td><td>17.7</td><td>1,454</td><td>3.6</td><td>4,295</td><td>10.5</td><td>98</td><td>400</td><td>2,165</td><td>39,140</td></tr><tr><td>Dec.</td><td>41,942</td><td>41,445</td><td>29,557</td><td>71.3</td><td>6,203</td><td>15.0</td><td>1,455</td><td>3.5</td><td>4,231</td><td>10.2</td><td>98</td><td>398</td><td>2,476</td><td>39,466</td></tr></table>
Note: Figures in this table are rounded to nearest million and will not necessarily add to totals.
COMPOSITION OF
INTEREST-BEARING PUBLIC DEBT OUTSTANDING
Daily Statement Basis
$1
22
Amount of Interest-bearing Debt Outstanding, the Computed Annual Interest Charge and the Computed Rate of Interest
<table><tr><th>End of fiscal year or month</th><th>Interest-bearing debt</th><th>Computed annual interest charge</th><th>Computed rate of interest: Percent</th></tr><tr><td>1933</td><td>$22,157,643,120</td><td>742,175,955</td><td>3.350</td></tr><tr><td>1934</td><td>26,480,487,920</td><td>842,301,133</td><td>3.181</td></tr><tr><td>1935</td><td>27,645,229,826</td><td>750,677,802</td><td>2.716</td></tr><tr><td>1936</td><td>32,755,631,770</td><td>838,002,053</td><td>2.559</td></tr><tr><td>1937</td><td>35,802,586,915</td><td>924,347,089</td><td>2.582</td></tr><tr><td>1938</td><td>36,575,925,880</td><td>947,084,058</td><td>2.589*</td></tr><tr><td>1939</td><td>39,885,969,732</td><td>1,036,937,397</td><td>2.600*</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>2.586*</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>2.503*</td></tr><tr><td>Apr.</td><td>39,525,407,813</td><td>1,029,353,995</td><td>2.604*</td></tr><tr><td>May.</td><td>39,751,011,399</td><td>1,035,271,505</td><td>2.604*</td></tr><tr><td>June.</td><td>39,885,969,732</td><td>1,036,937,397</td><td>2.600*</td></tr><tr><td>July.</td><td>40,113,701,724</td><td>1,044,251,926</td><td>2.603*</td></tr><tr><td>Aug.</td><td>40,351,348,487</td><td>1,050,844,300</td><td>2.604*</td></tr><tr><td>Sept.</td><td>40,341,909,035</td><td>1,051,817,484</td><td>2.607*</td></tr><tr><td>Oct.</td><td>40,526,147,836</td><td>1,054,355,375</td><td>2.602*</td></tr><tr><td>Nov.</td><td>40,806,570,235</td><td>1,058,487,906</td><td>2.594*</td></tr><tr><td>Dec.</td><td>41,445,461,769</td><td>1,076,615,135</td><td>2.598*</td></tr></table>
Note: "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. For basis of other figures see report of Secretary of the Treasury for 1937, page 4442.
Comparison of Average Yields of Long-term United States Treasury Bonds and High-grade Corporate Bonds
<table><tr><th></th><th>Treasury bonds 1/</th><th>Corporate bonds 2/</th><th>Spread between Treasury and Corporate bonds</th><th></th><th>Treasury bonds 1/</th><th>Corporate bonds 2/</th><th>Spread between Treasury and Corporate bonds</th></tr><tr><td>Monthly average of daily figures 3/:</td><td></td><td></td><td></td><td>Weekly, Wednesday closing prices 4/:</td><td></td><td></td><td></td></tr><tr><td>1938-Jan.............</td><td>2.65</td><td>3.17</td><td>.52</td><td>1939-Apr. 5.........</td><td>2.30</td><td>2.92</td><td>.62</td></tr><tr><td>Feb..................</td><td>2.64</td><td>3.15</td><td>.51</td><td>12.........</td><td>2.32</td><td>2.92</td><td>.60</td></tr><tr><td>Mar..................</td><td>2.64</td><td>3.16</td><td>.52</td><td>19.........</td><td>2.29</td><td>2.91</td><td>.62</td></tr><tr><td>Apr..................</td><td>2.62</td><td>3.23</td><td>.61</td><td>26.........</td><td>2.27</td><td>2.91</td><td>.64</td></tr><tr><td>May..................</td><td>2.51</td><td>3.14</td><td>.63</td><td>May 3.........</td><td>2.25</td><td>2.91</td><td>.66</td></tr><tr><td>June.................</td><td>2.52</td><td>3.15</td><td>.63</td><td>10.........</td><td>2.16</td><td>2.87</td><td>.71</td></tr><tr><td>July.................</td><td>2.52</td><td>3.12</td><td>.60</td><td>17.........</td><td>2.14</td><td>2.84</td><td>.70</td></tr><tr><td>Aug..................</td><td>2.51</td><td>3.10</td><td>.59</td><td>24.........</td><td>2.13</td><td>2.83</td><td>.70</td></tr><tr><td>Sept.................</td><td>2.58</td><td>3.12</td><td>.54</td><td>31.........</td><td>2.13</td><td>2.83</td><td>.70</td></tr><tr><td>Oct..................</td><td>2.48</td><td>3.06</td><td>.58</td><td>June 7.........</td><td>2.08</td><td>2.81</td><td>.73</td></tr><tr><td>Nov..................</td><td>2.50</td><td>3.04</td><td>.54</td><td>14.........</td><td>2.12</td><td>2.78</td><td>.66</td></tr><tr><td>Dec..................</td><td>2.49</td><td>3.02</td><td>.53</td><td>21.........</td><td>2.16</td><td>2.77</td><td>.61</td></tr><tr><td>1939-Jan.............</td><td>2.47</td><td>2.96</td><td>.49</td><td>28.........</td><td>2.17</td><td>2.76</td><td>.59</td></tr><tr><td>Feb..................</td><td>2.44</td><td>2.90</td><td>.46</td><td>July 5.........</td><td>2.20</td><td>2.76</td><td>.56</td></tr><tr><td>Mar..................</td><td>2.34</td><td>2.87</td><td>.53</td><td>12.........</td><td>2.16</td><td>2.76</td><td>.60</td></tr><tr><td>Apr..................</td><td>2.30</td><td>2.92</td><td>.62</td><td>19.........</td><td>2.17</td><td>2.76</td><td>.59</td></tr><tr><td>May..................</td><td>2.17</td><td>2.86</td><td>.69</td><td>26.........</td><td>2.14</td><td>2.74</td><td>.60</td></tr><tr><td>June.................</td><td>2.13</td><td>2.78</td><td>.65</td><td>Aug. 2.........</td><td>2.14</td><td>2.73</td><td>.59</td></tr><tr><td>July.................</td><td>2.16</td><td>2.76</td><td>.60</td><td>9.........</td><td>2.17</td><td>2.74</td><td>.57</td></tr><tr><td>Aug..................</td><td>2.21</td><td>2.79</td><td>.58</td><td>16.........</td><td>2.17</td><td>2.76</td><td>.59</td></tr><tr><td>Sept.................</td><td>2.65</td><td>3.29</td><td>.64</td><td>23.........</td><td>2.24</td><td>2.81</td><td>.57</td></tr><tr><td>Oct..................</td><td>2.60</td><td>3.14</td><td>.54</td><td>30.........</td><td>2.27</td><td>2.88</td><td>.61</td></tr><tr><td>Nov..................</td><td>2.46</td><td>2.93</td><td>.47</td><td>Sept. 6.........</td><td>2.56</td><td>3.41</td><td>.85</td></tr><tr><td>Dec..................</td><td>2.35</td><td>2.86</td><td>.51</td><td>13.........</td><td>2.64</td><td>3.33</td><td>.69</td></tr><tr><td>Weekly, Wednesday closing prices 4/:</td><td></td><td></td><td></td><td>20.........</td><td>2.72</td><td>3.31</td><td>.59</td></tr><tr><td>1939-Jan. 4.........</td><td>2.48</td><td>3.01</td><td>.53</td><td>27.........</td><td>2.74</td><td>3.29</td><td>.55</td></tr><tr><td>11.........</td><td>2.47</td><td>2.96</td><td>.49</td><td>Oct. 4.........</td><td>2.72</td><td>3.23</td><td>.51</td></tr><tr><td>18.........</td><td>2.45</td><td>2.95</td><td>.50</td><td>11.........</td><td>2.66</td><td>3.20</td><td>.54</td></tr><tr><td>25.........</td><td>2.48</td><td>2.95</td><td>.47</td><td>18.........</td><td>2.53</td><td>3.11</td><td>.58</td></tr><tr><td>Feb. 1.........</td><td>2.45</td><td>2.94</td><td>.49</td><td>25.........</td><td>2.49</td><td>3.06</td><td>.57</td></tr><tr><td>8.........</td><td>2.44</td><td>2.91</td><td>.47</td><td>Nov. 1.........</td><td>2.50</td><td>3.00</td><td>.50</td></tr><tr><td>15.........</td><td>2.43</td><td>2.89</td><td>.46</td><td>8.........</td><td>2.50</td><td>2.95</td><td>.45</td></tr><tr><td>22.........</td><td>2.43</td><td>2.89</td><td>.46</td><td>15.........</td><td>2.47</td><td>2.94</td><td>.47</td></tr><tr><td>Mar. 1.........</td><td>2.39</td><td>2.86</td><td>.47</td><td>22.........</td><td>2.39</td><td>2.91</td><td>.52</td></tr><tr><td>8.........</td><td>2.36</td><td>2.86</td><td>.50</td><td>29.........</td><td>2.36</td><td>2.90</td><td>.54</td></tr><tr><td>15.........</td><td>2.33</td><td>2.87</td><td>.54</td><td>Dec. 6.........</td><td>2.41</td><td>2.88</td><td>.47</td></tr><tr><td>22.........</td><td>2.35</td><td>2.88</td><td>.53</td><td>13.........</td><td>2.37</td><td>2.84</td><td>.47</td></tr><tr><td>29.........</td><td>2.30</td><td>2.90</td><td>.60</td><td>20.........</td><td>2.32</td><td>2.85</td><td>.53</td></tr><tr><td></td><td></td><td></td><td></td><td>27.........</td><td>2.30</td><td>2.83</td><td>.53</td></tr><tr><td>1940-Jan. 3.........</td><td></td><td></td><td></td><td>1940-Jan. 10.........</td><td>2.29</td><td>2.82</td><td>.53</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>2.28</td><td>2.80</td><td>.52</td></tr></table>
Note: Yields are computed on the basis of closing prices on New York Stock Exchange. Back figures may be found in the July bulletin, page 20.
1/ Average of Treasury bonds not due or callable for twelve years or more.
2/ Average of twenty bonds, Jan. 1938 through Sept. 13, 1938; five bonds, Sept. 14, 1938 to date.
3/ January 1938 through April 1938, corporate average is monthly average of Saturday figures.
4/ Or the last preceding sale when there was no sale on Wednesday.
COMPARATIVE YIELDS OF AVERAGE OF ALL LONG TERM U.S. TREASURY AND AVERAGE OF HIGH GRADE CORPORATE BONDS
Yields Based on Wednesday Quotations
23
*Break in line indicates change in composition of Long Term Treasury average
YIELDS OF TREASURY BONDS AND NOTES JAN. 15, 1940
Based on Closing Prices
24
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
— 25 —
26
Governmental Corporations and Credit Agencies of the United States: Nov. 30, 1939
(Compiled from latest reports received from these agencies)
(In millions of dollars)
<table><tr><th rowspan="2"></th><th rowspan="2">Assets</th><th colspan="2">Liabilities</th><th colspan="2">Proprietary* interest</th></tr><tr><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>1,707.6</td><td>1,097.8</td><td>95.3</td><td>-</td><td>514.5</td></tr><tr><td>Commodity Credit Corp.</td><td>694.5</td><td>407.4</td><td>187.1</td><td>-</td><td>100.0</td></tr><tr><td>Export-Import Bank of Washington</td><td>49.1</td><td>-</td><td>.5</td><td>-</td><td>48.6</td></tr><tr><td>Federal Crop Insurance Corp.</td><td>13.7</td><td>-</td><td>5.4</td><td>-</td><td>8.3</td></tr><tr><td>Federal Deposit Insurance Corp.</td><td>489.7</td><td>-</td><td>200.4</td><td>139.3</td><td>150.0</td></tr><tr><td>Tennessee Valley Authority</td><td>319.3</td><td>-</td><td>16.4</td><td>-</td><td>302.9</td></tr><tr><td>Public Works Administration</td><td>70.1</td><td>-</td><td>-</td><td>-</td><td>70.1</td></tr><tr><td>United States Maritime Commission</td><td>199.1</td><td>-</td><td>51.3</td><td>-</td><td>147.8</td></tr><tr><td>Rural Electrification Admin.</td><td>177.3</td><td>-</td><td>-</td><td>-</td><td>177.3</td></tr><tr><td>Home Owners' Loan Corp.</td><td>2,966.2</td><td>2,836.4</td><td>82.2</td><td>-</td><td>47.6</td></tr><tr><td>Federal Savings & Loan Insurance Corp.</td><td>121.9</td><td>-</td><td>1.3</td><td>-</td><td>120.6</td></tr><tr><td>Federal Home Loan Banks</td><td>250.7</td><td>-</td><td>75.1</td><td>50.9</td><td>124.7</td></tr><tr><td>Federal Housing Admin.</td><td>49.6</td><td>3.4</td><td>1.7</td><td>-</td><td>44.5</td></tr><tr><td>Federal National Mortgage Assn.</td><td>146.0</td><td>-</td><td>88.2</td><td>-</td><td>57.8</td></tr><tr><td>United States Housing Authority</td><td>268.9</td><td>114.7</td><td>3.4</td><td>-</td><td>150.8</td></tr><tr><td>Farm Credit Administration</td><td>287.2</td><td>-</td><td>197.4</td><td>-</td><td>89.8</td></tr><tr><td>Federal Farm Mortgage Corp.</td><td>1,540.6</td><td>1,277.1</td><td>46.2</td><td>-</td><td>217.3</td></tr><tr><td>Federal Land Banks</td><td>2,309.9</td><td>-</td><td>1,803.8</td><td>203.0</td><td>303.1</td></tr><tr><td>Federal Intermediate Credit Banks</td><td>313.9</td><td>-</td><td>210.1</td><td>-</td><td>103.8</td></tr><tr><td>Bank for Cooperatives</td><td>185.7</td><td>-</td><td>4.0</td><td>3.7</td><td>178.0</td></tr><tr><td>Production Credit Corp.</td><td>122.4</td><td>-</td><td>.2</td><td>-</td><td>122.2</td></tr><tr><td>Regional Agricultural Credit Corps.</td><td>22.1</td><td>-</td><td>2.9</td><td>-</td><td>19.2</td></tr><tr><td>War emergency corps. & agencies (in liquidation): Navy Department (sale of surplus war supplies)</td><td>4.6</td><td>-</td><td>-</td><td>-</td><td>4.6</td></tr><tr><td>United States Housing Corp.</td><td>1.9</td><td>-</td><td>-</td><td>-</td><td>1.9</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: Dieaster Loan Corp.</td><td>21.0</td><td>-</td><td>.1</td><td>-</td><td>20.9</td></tr><tr><td>Electric Home and Farm Authority</td><td>11.6</td><td>-</td><td>10.6</td><td>-</td><td>1.0</td></tr><tr><td>Farm Security Administration</td><td>255.5</td><td>-</td><td>-</td><td>-</td><td>255.5</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>8.1</td><td>-</td><td>.2</td><td>-</td><td>7.9</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>2.6</td></tr><tr><td>Inland Waterways Corp.</td><td>25.8</td><td>-</td><td>.9</td><td>-</td><td>24.9</td></tr><tr><td>Panama Railroad Co.</td><td>47.8</td><td>-</td><td>1.0</td><td>-</td><td>46.8</td></tr><tr><td>Puerto Rico Reconstruction Admin.</td><td>6.6</td><td>-</td><td>-</td><td>-</td><td>6.6</td></tr><tr><td>A P C Mortgage Company</td><td>59.3</td><td>-</td><td>1.8</td><td>-</td><td>57.5</td></tr><tr><td>Tennessee Valley Associated Cooperative, Inc.</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Treasury Department: Federal Savings & Loan Assns.</td><td>39.7</td><td>-</td><td>-</td><td>-</td><td>39.7</td></tr><tr><td>Railroad loans (Transportation Act, 1920) Securities received from the Reconstruction Finance Corp. under Act of Feb. 24, 1938</td><td>30.2</td><td>-</td><td>-</td><td>-</td><td>30.2</td></tr><tr><td>Total</td><td>12,823.9</td><td>5,736.8</td><td>3,087.8</td><td>396.9</td><td>3,602.3</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: Nov. 30, 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>Net Proprietary Interest of the U. S.</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>263.6</td><td>262.1 2/</td><td>501.5 1/</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>2.6</td><td>-</td><td>48.6</td></tr><tr><td>Federal Crop Insurance Corp.</td><td>15.0</td><td>-</td><td>6.7 2/</td><td>8.3</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>66.4 3/</td><td>100.0 2/</td><td>33.6 1/</td></tr><tr><td>Federal Savings and Loan Insurance Corp.</td><td>100.0</td><td>20.6</td><td>-</td><td>120.6</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>139.8</td><td>-</td><td>140.8</td></tr><tr><td>Federal Farm Mortgage Corp.</td><td>200.0</td><td>-</td><td>2.7 2/</td><td>197.3 1/</td></tr><tr><td>Federal Land Banks.</td><td>121.1</td><td>188.0</td><td>6.0 2/</td><td>303.1</td></tr><tr><td>Federal Intermediates Credit Banks.</td><td>70.0</td><td>49.6</td><td>15.8 2/</td><td>103.8</td></tr><tr><td>Banks for Cooperatives.</td><td>149.0</td><td>13.2</td><td>15.8</td><td>178.0</td></tr><tr><td>Production Credit Corps.</td><td>120.0</td><td>2.2</td><td>-</td><td>122.2</td></tr><tr><td>Regional Agricultural Credit Corp.</td><td>5.0</td><td>14.2</td><td>-</td><td>19.2</td></tr><tr><td>U. S. Housing Corp.</td><td>34.1</td><td>32.2 3/</td><td>-</td><td>1.9</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>Disaster Loan Corp.</td><td>22.0</td><td>1.1 3/</td><td>-</td><td>20.9</td></tr><tr><td>Electric Home and Farm Authority.</td><td>.9</td><td>.1</td><td>1/</td><td>1.0</td></tr><tr><td>Federal National Mortgage Asen.</td><td>10.0</td><td>3.8</td><td>44.0</td><td>57.8</td></tr><tr><td>Inland Waterways Corp.</td><td>12.0</td><td>12.9</td><td>-</td><td>24.9</td></tr><tr><td>Panama Railroad Company.</td><td>7.0</td><td>40.5</td><td>.7 2/</td><td>46.8</td></tr><tr><td>R F C Mortgage Company.</td><td>25.0</td><td>.6</td><td>31.9</td><td>57.5</td></tr><tr><td>T V & Cooperative, Inc.</td><td>1/</td><td>.3</td><td>-</td><td>.3</td></tr><tr><td>Total</td><td>2,012.9</td><td>652.5</td><td>301.9 2/</td><td>2,363.5</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>252.6 1/</td></tr><tr><td>Public Works Admin.</td><td></td><td></td><td></td><td>70.1</td></tr><tr><td>U. S. Maritime Commission.</td><td></td><td></td><td></td><td>147.8</td></tr><tr><td>Equal Electrification Admin.</td><td></td><td></td><td></td><td>177.3</td></tr><tr><td>Federal Housing Admin.</td><td></td><td></td><td></td><td>44.5</td></tr><tr><td>Farm Credit Admin.</td><td></td><td></td><td></td><td>89.8</td></tr><tr><td>
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. 2/ Exceeds inter-agency escote (deduct). 3/ Deficit. 4/ Exclusive of special obligations held by the Treasury shown at end of statement.
27
Sources of Funds of Certain Governmental Corporations and Agencies for the First 5 Months, Fiscal Year 1940
(Compiled from latest reports received by the Treasury)
<table><tr><th></th><th>Appropriations from general fund 1/</th><th>Allocations, redicounts, and loans from other governmental corporations or agencies (net)</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></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-</td><td>-</td><td>$230,075,682*</td><td>$276,068,000</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>$119,599,918</td><td>-</td><td>10,000,000*</td><td>200,620,000</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>$7,300,000</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>23,445,633</td><td>41,034,484</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-</td><td>-</td><td>6,000,000*</td><td>45,900,000*</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Home Loan Banks</td><td>-</td><td>-</td><td>-</td><td>40,594,075*</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>2,086,581</td><td>-</td><td>10,000,000</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>20,000,000</td><td>110,022,000*</td><td>-</td></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>-</td><td>-</td><td>-</td><td>57,600</td></tr><tr><td>Disaster Loan Corporation</td><td>4,000,000 3/</td><td>357,066</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>-</td><td>989,150</td><td>-</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>-</td><td>16,408,278</td><td>-</td><td>-</td><td>-</td></tr><tr><td>RFC Mortgage Company 2/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total</td><td>149,132,132</td><td>65,099,828</td><td>216,075,682*</td><td>281,161,075</td><td>57,600</td></tr></table>
<table><tr><th></th><th>Sale of other property acquired</th><th>Repayment of loans</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$128,988</td><td>$87,949,657</td><td>$24,631,653</td><td>$3,614,665</td><td>$162,317,281</td></tr><tr><td>Commodity Credit Corporation</td><td>14,097,004</td><td>28,974,228</td><td>1,525,465</td><td>1,412,343</td><td>356,228,958</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>1,800,740</td><td>565,577</td><td>66,215</td><td>9,732,532</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>7,115,736</td><td>24,289,178</td><td>174,394</td><td>31,579,308</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>324,010</td><td>1,256,338</td><td>2,058</td><td>66,062,523</td></tr><tr><td>Home Owners' Loan Corporation</td><td>18,259,648</td><td>76,613,995</td><td>55,683,710</td><td>4,064,369</td><td>102,721,722</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>2,746,771</td><td>16</td><td>2,746,787</td></tr><tr><td>Federal Home Loan Banks</td><td>-</td><td>40,314,832</td><td>1,703,922</td><td>-</td><td>1,424,679</td></tr><tr><td>United States Housing Authority</td><td>-</td><td>20,393,155</td><td>1,987,783</td><td>25,925</td><td>34,493,444</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,530,804</td><td>28,708,457</td><td>28,129,300</td><td>690,372</td><td>30,963,067 5/</td></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>12,640,754</td><td>573,746</td><td>22,633</td><td>13,294,733</td></tr><tr><td>Disaster Loan Corporation</td><td>13,845</td><td>756,953</td><td>84,864</td><td>22,619</td><td>5,235,347</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>2,629,861</td><td>396,473</td><td>22,282</td><td>4,037,766</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>-</td><td>3,259,127</td><td>2,649,785</td><td>269,506</td><td>22,586,696</td></tr><tr><td>RFC Mortgage Company 2/</td><td>217,233</td><td>9,265,384</td><td>1,018,807</td><td>-</td><td>10,501,424</td></tr><tr><td>Total</td><td>34,247,522</td><td>320,746,889</td><td>147,243,372</td><td>10,387,397</td><td>792,000,133</td></tr></table>
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget.
2/ Effective October 31, 1939, separate statements are being prepared for the Reconstruction Finance Corporation, Federal National Mortgage Association and the RFC Mortgage Company. Previous statements included the latter two corporations with the Reconstruction Finance Corporation figures.
3/ These funds were furnished by the Reconstruction Finance Corporation from the proceeds of its notes sold to the Treasury, such amounts being included in the total of obligations of the corporation cancelled by the Secretary of the Treasury pursuant to the Act of February 24, 1938.
4/ Receipts from the sale of property in liquidation of loans are shown as "Sale of Other Property Acquired."
5/ Excess of disbursements; deduct.
Excess of retirements; deduct.
28
Uses of Funds of Certain Governmental Corporations and Agencies for the First 5 Months, Fiscal Year 1940
(Compiled from latest reports received by the Treasury - Expenditures on basis of checks issued)
<table><tr><th></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></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$3,843,811</td><td>$610,767</td><td>-</td><td>$119,108,874</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,395,149</td><td>-</td><td>$6,514,099</td><td>314,704,830</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>30,964</td><td>1,061</td><td>-</td><td>9,809,229</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>1,421,135</td><td>-</td><td>-</td><td>2,448,251</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>1,158,216</td><td>-</td><td>-</td><td>53,707,037</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>10,001,720</td><td>16,933,895</td><td>10,682,717</td><td>43,647,799</td><td>$65,314,625</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>98,936</td><td>3,872</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Home Loan Banks</td><td>394,620</td><td>-</td><td>-</td><td>40,175,183</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>2,312,563</td><td>604,979</td><td>194,732</td><td>68,235,558</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>3,931,509</td><td>620,923</td><td>1,401,705</td><td>8,784,878</td><td>-</td></tr><tr><td>Central Bank for Cooperatives</td><td>49,325</td><td>-</td><td>-</td><td>16,284,975</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>212,809</td><td>6,353</td><td>-</td><td>5,015,861</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>177,744</td><td>90,238</td><td>-</td><td>3,809,986</td><td>-</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>357,842</td><td>346,081</td><td>-</td><td>21,041,326</td><td>-</td></tr><tr><td>RFC Mortgage Company 2/</td><td>288,026</td><td>237,170</td><td>-</td><td>8,492,430</td><td>-</td></tr><tr><td>Total</td><td>25,674,369</td><td>19,455,339</td><td>18,793,253</td><td>715,266,217</td><td>65,314,625</td></tr></table>
<table><tr><th></th><th>Investments (net)</th><th>Allocations, redisc- counts, and loans to other govern- mental corporations or agencies (net)</th><th>Interest and dividends paid</th><th>Other ex- penditures</th><th>Total, uses of funds</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-</td><td>$21,847,916</td><td>$5,447,803</td><td>$5,551,336</td><td>$156,410,507</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>18,377,302</td><td>791,273</td><td>15,291,409</td><td>357,074,062</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-</td><td>-</td><td>65,110</td><td>9,906,364</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>$20,000,000</td><td>-</td><td>-</td><td>119,551</td><td>23,988,937</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>223,598</td><td>71,382</td><td>55,160,233</td></tr><tr><td>Home Owners' Loan Corporation</td><td>5,053,075</td><td>-</td><td>24,633,575</td><td>1,074,562</td><td>167,235,818</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>2,147,094</td><td>-</td><td>-</td><td>6,341</td><td>2,256,243</td></tr><tr><td>Federal Home Loan Banks</td><td>577,173</td><td>-</td><td>1,314,964</td><td>5,914,374</td><td>48,376,314</td></tr><tr><td>United States Housing Authority</td><td>800,000</td><td>-</td><td>784,829</td><td>-</td><td>72,932,661</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>17,475,000</td><td>-</td><td>19,863,413</td><td>1,247,081</td><td>18,374,509</td></tr><tr><td>Central Bank for Cooperatives</td><td>7,602,495</td><td>143,560</td><td>24,337</td><td>77,349</td><td>8,977,051</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>323</td><td>5,235,346</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>29,635</td><td>696</td><td>4,108,299</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>-</td><td>-</td><td>818,994</td><td>22,453</td><td>22,586,696</td></tr><tr><td>RFC Mortgage Company 2/</td><td>-</td><td>423,970</td><td>580,294</td><td>484,042</td><td>10,505,932</td></tr><tr><td>Total</td><td>6,606,303</td><td>40,792,748</td><td>54,512,715</td><td>29,926,009</td><td>963,128,972</td></tr></table>
Receipts received in payment of mortgages appear under "Repayment of Loans" in the statement of source of funds. Effective October 31, 1939, separate statements are being made for the Reconstruction Finance Corporation, Federal National Mortgage Association and the RFC Mortgage Company. Previous statements included the latter two corporations with the Reconstruction Finance Corporation figures. Excess of sales over purchase; deduct.
29
Sources of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to November 30, 1939
(Compiled from latest reports received by the Treasury)
<table><tr><th></th><th>Appropriations from general fund 1/</th><th>Allocations, rediscounts, and loans from other governmental corporations or agencies (net)</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></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$500,000,000</td><td>-</td><td>$12,971,945</td><td>$1,095,757,000</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>313,885,323 3/</td><td>-</td><td>-</td><td>406,794,000</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1,000,000</td><td>-</td><td>-</td><td>-</td><td>$45,000,000</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></tr><tr><td>Rural Electrification Administration</td><td>92,587,548</td><td>$104,882,059</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>200,000,000 4/</td><td>-</td><td>14,000,000</td><td>3,114,453,550 5/</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100,000,000</td></tr><tr><td>Federal Home Loan Banks</td><td>124,741,000 4/</td><td>-</td><td>-</td><td>88,992,100</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>32,442,804</td><td>-</td><td>10,000,000</td><td>114,157,000</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>200,000,000 4/</td><td>-</td><td>55,000,000</td><td>1,234,387,900</td><td>-</td></tr><tr><td>Central Bank for Cooperatives</td><td>50,000,000</td><td>5,104,466</td><td>-</td><td>-</td><td>428,600</td></tr><tr><td>Disaster Loan Corporation</td><td>22,000,000 4/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>1,000,000</td><td>-</td><td>-</td><td>9,070,772</td><td>-</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>-</td><td>41,308,283</td><td>-</td><td>85,240,000</td><td>11,000,000</td></tr><tr><td>RFC Mortgage Company 2/</td><td>-</td><td>29,430,666</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Total</td><td>1,687,656,675</td><td>180,725,474</td><td>91,971,945</td><td>6,148,852,322</td><td>320,728,157</td></tr></table>
<table><tr><th></th><th>Sale of other property acquired</th><th>Repayment of loans 6/</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 2/</td><td>$2,553,093</td><td>$4,767,549,626</td><td>$519,085,127</td><td>$72,622,894</td><td>$6,970,539,685</td></tr><tr><td>Commodity Credit Corporation</td><td>21,794,249</td><td>597,499,353</td><td>11,034,278</td><td>1,934,903</td><td>1,352,942,106</td></tr><tr><td>Export-Import Bank of Weshington</td><td>-</td><td>33,772,449</td><td>4,492,964</td><td>707,119</td><td>84,972,532</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>24,594,005</td><td>213,359,531</td><td>3,380,553</td><td>530,633,646</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>757,769</td><td>2,578,020</td><td>7,194</td><td>200,812,590</td></tr><tr><td>Home Owners' Loan Corporation</td><td>59,299,718</td><td>677,616,032</td><td>695,455,063</td><td>8,967,446</td><td>4,769,791,809</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>25,731,792</td><td>31,084</td><td>125,762,876</td></tr><tr><td>Federal Home Loan Banke</td><td>-</td><td>394,376,659</td><td>31,374,601</td><td>27,985,842</td><td>667,470,202</td></tr><tr><td>United States Housing Authority</td><td>-</td><td>21,190,453</td><td>7,709,916</td><td>176,650</td><td>185,676,823</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>6,226,558</td><td>210,043,718</td><td>336,034,754</td><td>8,984,131</td><td>2,050,677,061</td></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>177,156,985</td><td>8,952,840</td><td>2,328,278</td><td>243,971,169</td></tr><tr><td>Diester Loan Corporation</td><td>25,081</td><td>3,142,180</td><td>342,311</td><td>72,491</td><td>25,582,063</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>10,874,449</td><td>1,939,221</td><td>203,434</td><td>23,087,876</td></tr><tr><td>Federal National Mortgage Association 2/</td><td>-</td><td>7,973,972</td><td>6,410,752</td><td>2,507,771</td><td>154,440,778</td></tr><tr><td>RFC Mortgage Company 2/</td><td>220,037</td><td>88,076,263</td><td>7,957,934</td><td>2,619,791</td><td>153,304,691</td></tr><tr><td>Total</td><td>90,118,736</td><td>7,014,623,913</td><td>1,872,459,104</td><td>132,529,581</td><td>17,539,665,907</td></tr></table>
1/ Items in this column are the only ones in this statement which constitute a change against the Federal Budget.
2/ Effective October 31, 1939, separate statements are being shown for the Reconstruction Finance Corporation, Federal National Mortgage Association, and the RFC Mortgage Company. Previous statements included the letter two corporations with the Reconstruction Finance Corporation figures.
3/ Includes $3,000,000.00 NIRA; $97,000,000.00 RFC included in notes cancelled by the Treasury (see footnote 4); and $213,885,322.78 restoration of capital impairment pursuant to Public No. 442 - 75th Congress, approved March 8, 1938.
4/ These funds were furnished by the Reconstruction Finance Corporation from the proceeds of its notes sold to the Treasury, such amounts being included in the total of obligations of the corporation cancelled by the Secretary of the Treasury pursuant to the Act of February 24, 1938.
5/ Retirement of these obligations shown as "Retirement of Obligations Issued to Exchange for Mortgages" in the statement of uses of funds.
6/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of Other Property Acquired."
30
Uses of Funds of Certain Governmental Corporations and Agencies from Inception of Organization to November 30, 1939
(Compiled from latest reports received by the Treasury - Expenditures on basis of checks issued)
<table><tr><th></th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$68,715,132</td><td>$6,166,609</td><td>-</td><td>$6,423,987,480</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>5,552,646</td><td>-</td><td>$9,396,610</td><td>1,278,720,560</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>333,221</td><td>1,269</td><td>-</td><td>72,244,424</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>17,988,877</td><td>-</td><td>-</td><td>80,634,022</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>6,763,579</td><td>-</td><td>-</td><td>176,044,861</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>184,462,394</td><td>74,767,389</td><td>112,287,445</td><td>3,216,533,520</td><td>$296,363,150</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>875,297</td><td>14,099</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Home Loan Banks</td><td>7,553,576</td><td>-</td><td>-</td><td>563,198,574</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>7,080,132</td><td>3,276,970</td><td>25,845,771</td><td>127,185,685</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>57,624,257</td><td>2,451,590</td><td>8,072,140</td><td>974,421,113</td><td>-</td></tr><tr><td>Central Bank for Cooperatives</td><td>663,202</td><td>-</td><td>-</td><td>193,731,173</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>1,664,652</td><td>79,573</td><td>-</td><td>22,312,182</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>1,164,349</td><td>419,202</td><td>-</td><td>20,890,663</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>1,042,810</td><td>802,344</td><td>-</td><td>151,000,083</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>3,172,674</td><td>2,258,943</td><td>-</td><td>144,733,330</td><td>-</td></tr><tr><td>Total</td><td>364,656,798</td><td>90,237,988</td><td>155,601,966</td><td>13,445,637,670</td><td>296,363,150</td></tr></table>
<table><tr><th></th><th>Investments (net) 3/</th><th>Allocations, rediscounts, and loans to other governmental corporations or agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>$81,000,000</td><td>$116,732,890</td><td>$227,624,700</td><td>$9,785,045</td><td>$6,964,012,456</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>24,864,569</td><td>17,853,623</td><td>15,799,617</td><td>1,352,187,625</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>9,000,000</td><td>2,262,329</td><td>529,301</td><td>84,370,541</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>363,495,857</td><td>-</td><td>41,681,291</td><td>672,300</td><td>504,472,347</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>771,310</td><td>255,169</td><td>183,834,919</td></tr><tr><td>Home Owners' Loan Corporation</td><td>311,405,885</td><td>-</td><td>386,843,444</td><td>11,189,343</td><td>4,593,852,570</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>120,082,233</td><td>-</td><td>3,414,739</td><td>565,678</td><td>124,952,046</td></tr><tr><td>Federal Home Loan Banks</td><td>49,564,515</td><td>-</td><td>15,731,940</td><td>167,437</td><td>636,216,042</td></tr><tr><td>United States Housing Authority</td><td>2,500,000</td><td>-</td><td>843,294</td><td>60,858</td><td>166,792,710</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>761,479,840</td><td>-</td><td>211,725,642</td><td>12,237,879</td><td>2,028,012,461</td></tr><tr><td>Central Bank for Cooperatives</td><td>37,907,505</td><td>-</td><td>447,633</td><td>3,135,467</td><td>235,884,980</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>1,523,898</td><td>-</td><td>758</td><td>25,581,063</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>149,366</td><td>184,392</td><td>22,807,972</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>1,543,946</td><td>51,595</td><td>154,440,778</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>3,135,445</td><td>2,354</td><td>153,302,746</td></tr><tr><td>Total</td><td>1,727,435,835</td><td>182,121,357</td><td>914,028,702</td><td>54,637,793</td><td>17,230,721,259</td></tr></table>
Receipts received in payment of mortgages appear under "Repayment of Loans" in the statement of sources of funds. Effective October 31, 1939, separate statements are being shown for the Reconstruction Finance Corporation, Federal National Mortgage Association and the RFC Mortgage Company. Previous statements included the latter two corporations with the Reconstruction Finance Corporation figures. Includes U. S. Government Bonds in the amount of $291,894,413, as follows: Federal Deposit Insurance Corp., $225,005,716; Federal Savings and Loan Insurance Corp., $10,997,697; U. S. Housing Authority, $2,500,000; the Banks for Cooperatives, $23,665,000; and Federal Home Loan Banks, $29,726,000.
31
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 fiscal year or month</th><th>Total 2/</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</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</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</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</td><td>4,604.6</td><td>-</td><td>1,422.2</td><td>1.1</td><td>2,987.1</td><td>255.2</td><td>-</td></tr><tr><td>1938</td><td>4,852.7</td><td>206.2</td><td>1,409.8</td><td>1.6</td><td>2,937.2</td><td>238.9</td><td>-</td></tr><tr><td>1939</td><td>5,471.0</td><td>206.2</td><td>1,379.4</td><td>2.6</td><td>2,948.9</td><td>819.7</td><td>114.2</td></tr><tr><td>1938-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>5,409.7</td><td>206.2</td><td>1,380.9</td><td>1.7</td><td>2,887.6</td><td>819.2</td><td>114.1</td></tr><tr><td>Mar.</td><td>5,410.0</td><td>206.2</td><td>1,380.9</td><td>1.9</td><td>2,887.6</td><td>819.2</td><td>114.2</td></tr><tr><td>Apr.</td><td>5,409.6</td><td>206.2</td><td>1,379.9</td><td>2.2</td><td>2,887.6</td><td>819.5</td><td>114.2</td></tr><tr><td>May.</td><td>5,409.4</td><td>206.2</td><td>1,379.4</td><td>2.4</td><td>2,887.6</td><td>819.6</td><td>114.2</td></tr><tr><td>June.</td><td>5,450.0</td><td>206.2</td><td>1,379.4</td><td>2.6</td><td>2,927.9</td><td>819.7</td><td>114.2</td></tr><tr><td>July</td><td>5,479.7</td><td>206.2</td><td>1,379.4</td><td>2.2</td><td>2,957.9</td><td>819.8</td><td>114.2</td></tr><tr><td>Aug.</td><td>5,489.3</td><td>408.7</td><td>1,379.4</td><td>2.6</td><td>2,764.6</td><td>819.8</td><td>114.2</td></tr><tr><td>Sept.</td><td>5,356.0</td><td>408.7</td><td>1,279.3</td><td>2.8</td><td>2,731.2</td><td>819.8</td><td>114.2</td></tr><tr><td>Oct.</td><td>5,448.8</td><td>408.7</td><td>1,280.0</td><td>2.9</td><td>2,823.1</td><td>819.9</td><td>114.2</td></tr><tr><td>Nov.</td><td>5,701.9</td><td>406.8</td><td>1,270.0</td><td>3.4</td><td>2,817.7</td><td>1,095.8</td><td>114.2</td></tr></table>
Preliminary
1/ Exclusive of obligations sold directly to the Treasury.
CAPITAL MOVEMENTS BETWEEN THE UNITED STATES AND FOREIGN COUNTRIES
— 32 —
33
Net Capital Movement between the United States and Foreign Countries 1935 through October 1939
(In thousands of dollars. Capital inflow (+) or capital outflow (-))
<table><tr><th>Movement during following period</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 colspan="14">MOVEMENT IN SHORT-TERM BANKING FUNDS:</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>-84,533</td><td>99,761</td><td>262,611</td><td>111,078</td><td>-17,201</td><td>-77,158</td><td>13,885</td><td>293,215</td></tr><tr><td>Dec. 28, 1938-Nov. 1, 1939...</td><td>199,543</td><td>71,106</td><td>20,625</td><td>9,687</td><td>106,583</td><td>88,266</td><td>219,679</td><td>715,489</td><td>102,899</td><td>104,341</td><td>91,627</td><td>44,585</td><td>1,058,941</td></tr><tr><td>Total</td><td>770,683</td><td>295,385</td><td>151,145</td><td>27,412</td><td>164,118</td><td>294,596</td><td>455,733</td><td>2,179,072</td><td>268,535</td><td>305,044</td><td>159,301</td><td>57,769</td><td>2,969,721</td></tr><tr><td colspan="14">Week ended</td></tr><tr><td>1939-Oct. 4</td><td>-16,464</td><td>-5,046</td><td>2,556</td><td>704</td><td>388</td><td>-5,820</td><td>-3,441</td><td>-27,123</td><td>-9,560</td><td>-2,692</td><td>-12,198</td><td>1,751</td><td>-49,822</td></tr><tr><td>Oct. 11</td><td>1,736</td><td>-13,909</td><td>2,130</td><td>1,713</td><td>-8,757</td><td>1,157</td><td>6,403</td><td>-9,527</td><td>334</td><td>2,070</td><td>-4,623</td><td>-666</td><td>-12,412</td></tr><tr><td>Oct. 18</td><td>1,290</td><td>-16,207</td><td>1,611</td><td>11,910</td><td>4,217</td><td>177</td><td>-3,764</td><td>-766</td><td>-2,348</td><td>-5,448</td><td>-962</td><td>3,149</td><td>-6,375</td></tr><tr><td>Oct. 25</td><td>-11,098</td><td>-684</td><td>1,981</td><td>530</td><td>4,413</td><td>11,036</td><td>23,138</td><td>29,316</td><td>-5,966</td><td>-1,317</td><td>2,021</td><td>-657</td><td>23,397</td></tr><tr><td>Nov. 1</td><td>-15,447</td><td>-2,572</td><td>652</td><td>-858</td><td>2,792</td><td>-3,366</td><td>-4,211</td><td>-23,009</td><td>14,330</td><td>-7,035</td><td>-7,100</td><td>3,559</td><td>-19,255</td></tr><tr><td>Total October</td><td>-39,983</td><td>-38,417</td><td>8,930</td><td>13,999</td><td>3,053</td><td>3,184</td><td>18,125</td><td>-31,109</td><td>-3,210</td><td>-14,422</td><td>-22,862</td><td>7,136</td><td>-64,467</td></tr><tr><td colspan="14">MOVEMENT IN BROKERAGE BALANCES:</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>-881</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-Nov. 1, 1939...</td><td>8,216</td><td>7,078</td><td>67</td><td>-27</td><td>2,008</td><td>7,334</td><td>1,543</td><td>26,219</td><td>6,951</td><td>2,551</td><td>-4,811</td><td>1,314</td><td>32,224</td></tr><tr><td>Total</td><td>21,461</td><td>19,656</td><td>-117</td><td>176</td><td>8,789</td><td>16,165</td><td>6,837</td><td>72,967</td><td>9,538</td><td>1,603</td><td>-5,842</td><td>1,529</td><td>79,795</td></tr><tr><td colspan="14">Week ended</td></tr><tr><td>1939-Oct. 4</td><td>-2,275</td><td>-41</td><td>1</td><td>8</td><td>250</td><td>582</td><td>-210</td><td>-1,685</td><td>-1,151</td><td>-311</td><td>319</td><td>540</td><td>-2,258</td></tr><tr><td>Oct. 11</td><td>-565</td><td>-848</td><td>20</td><td>-19</td><td>-1,461</td><td>-2,538</td><td>-1,372</td><td>-6,783</td><td>254</td><td>325</td><td>-346</td><td>232</td><td>-6,318</td></tr><tr><td>Oct. 18</td><td>526</td><td>1,348</td><td>9</td><td>-5</td><td>1,194</td><td>2,299</td><td>684</td><td>6,055</td><td>256</td><td>-336</td><td>-198</td><td>133</td><td>5,910</td></tr><tr><td>Oct. 25</td><td>-1,212</td><td>167</td><td>-5</td><td>-</td><td>-377</td><td>486</td><td>-30</td><td>-971</td><td>155</td><td>242</td><td>-1,327</td><td>147</td><td>-1,948</td></tr><tr><td>Nov. 1</td><td>794</td><td>669</td><td>5</td><td>-10</td><td>-253</td><td>21</td><td>815</td><td>2,041</td><td>293</td><td>-381</td><td>-673</td><td>-5</td><td>1,275</td></tr><tr><td>Total October</td><td>-2,732</td><td>1,295</td><td>30</td><td>-26</td><td>-647</td><td>850</td><td>-113</td><td>-1,343</td><td>-193</td><td>-461</td><td>-2,195</td><td>853</td><td>-3,339</td></tr><tr><td colspan="14">MOVEMENT IN TRANSACTIONS IN DOMESTIC SECURITIES:</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>-9,365</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>23,869</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-Nov. 1, 1939...</td><td>-112,169</td><td>-3,260</td><td>-5,007</td><td>50</td><td>13,697</td><td>28,913</td><td>3,095</td><td>-74,681</td><td>-22,917</td><td>3,727</td><td>3,795</td><td>2,901</td><td>-87,175</td></tr><tr><td>Total</td><td>360,419</td><td>73,234</td><td>-27,689</td><td>-5,378</td><td>226,639</td><td>330,661</td><td>59,698</td><td>1,017,584</td><td>4,882</td><td>27,162</td><td>60,168</td><td>13,903</td><td>1,123,699</td></tr><tr><td colspan="14">Week ended</td></tr><tr><td>1939-Oct. 4</td><td>-11,477</td><td>-274</td><td>-144</td><td>52</td><td>-1,081</td><td>457</td><td>172</td><td>-12,295</td><td>-1,100</td><td>82</td><td>-764</td><td>-122</td><td>-14,199</td></tr><tr><td>Oct. 11</td><td>-7,620</td><td>-553</td><td>-18</td><td>-57</td><td>970</td><td>985</td><td>469</td><td>-5,824</td><td>-605</td><td>25</td><td>629</td><td>-26</td><td>-5,801</td></tr><tr><td>Oct. 18</td><td>-6,707</td><td>-244</td><td>-66</td><td>109</td><td>-1,224</td><td>6,779</td><td>-418</td><td>-1,771</td><td>-1,093</td><td>299</td><td>-89</td><td>-11</td><td>-2,665</td></tr><tr><td>Oct. 25</td><td>-12,818</td><td>253</td><td>-24</td><td>-17</td><td>168</td><td>249</td><td>824</td><td>-11,663</td><td>-873</td><td>512</td><td>905</td><td>-46</td><td>-11,165</td></tr><tr><td>Nov. 1</td><td>-9,349</td><td>357</td><td>-42</td><td>6</td><td>400</td><td>1,564</td><td>339</td><td>-7,525</td><td>-387</td><td>115</td><td>943</td><td>-14</td><td>-6,868</td></tr><tr><td>Total October</td><td>-47,971</td><td>-461</td><td>-294</td><td>93</td><td>-1,567</td><td>9,736</td><td>1,386</td><td>-39,078</td><td>-4,058</td><td>1,033</td><td>1,624</td><td>-219</td><td>-40,698</td></tr><tr><td colspan="14">MOVEMENT IN TRANSACTIONS IN FOREIGN SECURITIES:</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>41,452</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. 29, 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-Nov. 1, 1939...</td><td>-4,363</td><td>15,026</td><td>3,374</td><td>4,883</td><td>2,113</td><td>5,726</td><td>19,413</td><td>46,172</td><td>9,896</td><td>15,005</td><td>6,019</td><td>1,560</td><td>78,652</td></tr><tr><td>Total</td><td>124,717</td><td>41,187</td><td>36,437</td><td>25,385</td><td>29,450</td><td>42,810</td><td>185,284</td><td>485,270</td><td>-28,974</td><td>181,318</td><td>39,821</td><td>11,217</td><td>688,652</td></tr><tr><td colspan="14">Week ended</td></tr><tr><td>1939-Oct. 4</td><td>-77</td><td>6,948</td><td>7</td><td>16</td><td>-158</td><td>-149</td><td>737</td><td>7,324</td><td>-65</td><td>266</td><td>97</td><td>62</td><td>7,684</td></tr><tr><td>Oct. 11</td><td>-193</td><td>-54</td><td>4</td><td>56</td><td>5</td><td>-45</td><td>294</td><td>67</td><td>67</td><td>264</td><td>159</td><td>38</td><td>595</td></tr><tr><td>Oct. 18</td><td>258</td><td>387</td><td>5</td><td>14</td><td>-145</td><td>-56</td><td>253</td><td>716</td><td>246</td><td>234</td><td>79</td><td>207</td><td>1,482</td></tr><tr><td>Oct. 25</td><td>-6</td><td>31</td><td>10</td><td>44</td><td>68</td><td>116</td><td>598</td><td>861</td><td>-526</td><td>1</td><td>104</td><td>106</td><td>546</td></tr><tr><td>Nov. 1</td><td>-129</td><td>123</td><td>31</td><td>467</td><td>16</td><td>-482</td><td>265</td><td>291</td><td>774</td><td>196</td><td>68</td><td>72</td><td>1,401</td></tr><tr><td>Total October</td><td>-147</td><td>7,435</td><td>57</td><td>597</td><td>-214</td><td>-616</td><td>2,147</td><td>9,259</td><td>496</td><td>961</td><td>507</td><td>485</td><td>11,708</td></tr><tr><td colspan="14">NET CAPITAL MOVEMENTS:</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>129,904</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>205,166</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>1,195,222</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>801,913</td></tr><tr><td>Dec. 29, 1937-Dec. 28, 1938...</td><td>192,335</td><td>57,812</td><td>16,825</td><td>10,873</td><td>12,695</td><td>-53,466</td><td>151,581</td><td>388,655</td><td>50,901</td><td>-21,075</td><td>-67,743</td><td>18,164</td><td>368,902</td></tr><tr><td>Dec. 28, 1938-Nov. 1, 1939...</td><td>91,227</td><td>89,950</td><td>19,059</td><td>14,593</td><td>124,401</td><td>130,239</td><td>243,730</td><td>713,199</td><td>96,829</td><td>125,624</td><td>96,630</td><td>50,360</td><td>1,082,942</td></tr><tr><td>Total</td><td>1,277,280</td><td>429,462</td><td>159,776</td><td>
CUMULATIVE NET CAPITAL MOVEMENT BETWEEN U.S. AND FOREIGN COUNTRIES
Cumulative Weekly Since January 2, 1935
34
35
Short-Term Foreign Liabilities as Reported by Banks and Bankers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Liabilities as of following dates</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>Oct. 4</td><td>636,540</td><td>291,364</td><td>9,543</td><td>19,022</td><td>186,046</td><td>294,780</td><td>445,426</td><td>1,882,721</td><td>326,118</td><td>382,763</td><td>298,359</td><td>67,727</td><td>2,957,688</td></tr><tr><td>Oct. 11</td><td>644,531</td><td>276,880</td><td>8,099</td><td>20,037</td><td>177,531</td><td>296,324</td><td>455,048</td><td>1,878,450</td><td>322,243</td><td>383,265</td><td>290,537</td><td>67,275</td><td>2,941,770</td></tr><tr><td>Oct. 18</td><td>648,352</td><td>261,337</td><td>9,427</td><td>30,997</td><td>181,818</td><td>296,699</td><td>449,309</td><td>1,878,539</td><td>311,375</td><td>378,999</td><td>348,222</td><td>69,633</td><td>2,986,768</td></tr><tr><td>Oct. 25</td><td>630,623</td><td>259,872</td><td>9,604</td><td>31,611</td><td>185,983</td><td>307,423</td><td>475,591</td><td>1,900,707</td><td>309,179</td><td>379,028</td><td>352,425</td><td>69,568</td><td>3,010,907</td></tr><tr><td>Nov. 1</td><td>613,696</td><td>256,050</td><td>9,128</td><td>30,986</td><td>188,525</td><td>304,069</td><td>472,481</td><td>1,874,935</td><td>325,437</td><td>371,802</td><td>348,290</td><td>72,599</td><td>2,993,063</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>Oct. 4</td><td>590,778</td><td>289,511</td><td>9,754</td><td>18,663</td><td>185,307</td><td>294,541</td><td>443,928</td><td>1,832,082</td><td>324,819</td><td>382,372</td><td>289,820</td><td>67,412</td><td>2,896,505</td></tr><tr><td>Oct. 11</td><td>602,344</td><td>275,018</td><td>7,923</td><td>19,700</td><td>176,672</td><td>296,146</td><td>453,496</td><td>1,831,299</td><td>321,190</td><td>382,825</td><td>282,216</td><td>66,909</td><td>2,884,439</td></tr><tr><td>Oct. 18</td><td>608,022</td><td>259,499</td><td>9,247</td><td>30,539</td><td>181,090</td><td>296,385</td><td>448,438</td><td>1,833,220</td><td>310,519</td><td>378,455</td><td>339,145</td><td>69,207</td><td>2,930,546</td></tr><tr><td>Oct. 25</td><td>588,559</td><td>258,012</td><td>9,451</td><td>31,108</td><td>185,055</td><td>307,112</td><td>473,873</td><td>1,853,210</td><td>307,793</td><td>378,431</td><td>343,027</td><td>69,120</td><td>2,951,581</td></tr><tr><td>Nov. 1</td><td>571,808</td><td>254,406</td><td>8,972</td><td>30,446</td><td>187,725</td><td>303,803</td><td>470,983</td><td>1,828,143</td><td>323,843</td><td>371,280</td><td>340,184</td><td>72,189</td><td>2,935,639</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>Oct. 4</td><td>581,861</td><td>285,970</td><td>9,029</td><td>18,091</td><td>179,914</td><td>284,941</td><td>433,088</td><td>1,792,894</td><td>320,493</td><td>358,759</td><td>250,175</td><td>66,945</td><td>2,789,266</td></tr><tr><td>Oct. 11</td><td>592,553</td><td>271,513</td><td>7,717</td><td>19,171</td><td>170,939</td><td>284,177</td><td>443,203</td><td>1,789,273</td><td>317,459</td><td>357,924</td><td>243,525</td><td>66,182</td><td>2,774,363</td></tr><tr><td>Oct. 18</td><td>597,239</td><td>255,424</td><td>8,885</td><td>29,633</td><td>175,498</td><td>284,558</td><td>436,347</td><td>1,787,584</td><td>306,818</td><td>355,054</td><td>295,296</td><td>68,424</td><td>2,813,176</td></tr><tr><td>Oct. 25</td><td>579,626</td><td>254,686</td><td>9,052</td><td>30,358</td><td>179,142</td><td>295,748</td><td>461,746</td><td>1,810,358</td><td>304,345</td><td>352,705</td><td>298,924</td><td>68,355</td><td>2,834,687</td></tr><tr><td>Nov. 1</td><td>561,292</td><td>251,247</td><td>8,633</td><td>29,710</td><td>182,297</td><td>294,032</td><td>459,613</td><td>1,786,824</td><td>319,981</td><td>355,921</td><td>295,681</td><td>71,402</td><td>2,829,809</td></tr><tr><td>Bills 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>Oct. 4</td><td>6,086</td><td>1,511</td><td>215</td><td>191</td><td>4,644</td><td>9,285</td><td>8,758</td><td>30,990</td><td>3,143</td><td>23,067</td><td>33,660</td><td>344</td><td>91,204</td></tr><tr><td>Oct. 11</td><td>6,269</td><td>1,483</td><td>111</td><td>442</td><td>4,985</td><td>11,164</td><td>8,524</td><td>33,008</td><td>2,917</td><td>24,327</td><td>32,773</td><td>335</td><td>93,360</td></tr><tr><td>Oct. 18</td><td>6,552</td><td>1,513</td><td>132</td><td>769</td><td>4,842</td><td>11,005</td><td>10,499</td><td>35,312</td><td>2,882</td><td>22,831</td><td>36,939</td><td>369</td><td>98,333</td></tr><tr><td>Oct. 25</td><td>6,207</td><td>1,225</td><td>135</td><td>621</td><td>5,163</td><td>10,537</td><td>10,828</td><td>34,716</td><td>2,559</td><td>25,139</td><td>36,149</td><td>353</td><td>98,916</td></tr><tr><td>Nov. 1</td><td>7,774</td><td>1,110</td><td>175</td><td>475</td><td>4,633</td><td>8,954</td><td>9,626</td><td>32,747</td><td>2,974</td><td>14,789</td><td>36,586</td><td>397</td><td>87,993</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>Oct. 4</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>33</td><td>-</td><td>-</td><td>5,578</td><td>-</td><td>5,611</td></tr><tr><td>Oct. 11</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>33</td><td>-</td><td>-</td><td>5,500</td><td>-</td><td>5,533</td></tr><tr><td>Oct. 18</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>33</td><td>-</td><td>-</td><td>6,500</td><td>-</td><td>6,533</td></tr><tr><td>Oct. 25</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>33</td><td>-</td><td>-</td><td>7,500</td><td>-</td><td>7,533</td></tr><tr><td>Nov. 1</td><td>32</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>33</td><td>-</td><td>-</td><td>7,500</td><td>-</td><td>7,533</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>Oct. 4</td><td>2,799</td><td>2,030</td><td>110</td><td>81</td><td>749</td><td>315</td><td>2,081</td><td>8,165</td><td>1,183</td><td>546</td><td>407</td><td>123</td><td>10,424</td></tr><tr><td>Oct. 11</td><td>3,490</td><td>2,022</td><td>65</td><td>87</td><td>748</td><td>805</td><td>1,768</td><td>8,985</td><td>814</td><td>574</td><td>418</td><td>392</td><td>11,183</td></tr><tr><td>Oct. 18</td><td>4,199</td><td>2,562</td><td>230</td><td>137</td><td>750</td><td>822</td><td>1,591</td><td>10,291</td><td>819</td><td>570</td><td>410</td><td>414</td><td>12,504</td></tr><tr><td>Oct. 25</td><td>2,734</td><td>2,101</td><td>264</td><td>129</td><td>750</td><td>827</td><td>1,238</td><td>8,103</td><td>889</td><td>587</td><td>454</td><td>412</td><td>10,445</td></tr><tr><td>Nov. 1</td><td>2,710</td><td>2,049</td><td>164</td><td>261</td><td>795</td><td>817</td><td>1,743</td><td>8,539</td><td>888</td><td>570</td><td>417</td><td>390</td><td>10,804</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>Oct. 4</td><td>45,762</td><td>1,853</td><td>189</td><td>359</td><td>739</td><td>239</td><td>1,498</td><td>50,639</td><td>1,299</td><td>391</td><td>8,539</td><td>315</td><td>61,183</td></tr><tr><td>Oct. 11</td><td>42,187</td><td>1,862</td><td>176</td><td>337</td><td>859</td><td>178</td><td>1,552</td><td>47,151</td><td>1,053</td><td>440</td><td>8,321</td><td>366</td><td>57,331</td></tr><tr><td>Oct. 18</td><td>40,330</td><td>1,838</td><td>180</td><td>458</td><td>728</td><td>314</td><td>1,471</td><td>45,319</td><td>856</td><td>544</td><td>9,077</td><td>426</td><td>56,222</td></tr><tr><td>Oct. 25</td><td>42,024</td><td>1,860</td><td>153</td><td>503</td><td>928</td><td>311</td><td>1,718</td><td>47,497</td><td>1,386</td><td>597</td><td>9,398</td><td>448</td><td>59,326</td></tr><tr><td>Nov. 1</td><td>41,888</td><td>1,644</td><td>156</td><td>540</td><td>800</td><td>266</td><td>1,498</td><td>46,792</td><td>1,594</td><td>522</td><td>8,106</td><td>410</td><td>57,424</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>Oct. 4</td><td>7,377</td><td>145</td><td>156</td><td>303</td><td>101</td><td>173</td><td>871</td><td>9,126</td><td>906</td><td>247</td><td>6,623</td><td>24</td><td>16,926</td></tr><tr><td>Oct. 11</td><td>7,282</td><td>189</td><td>147</td><td>284</td><td>225</td><td>118</td><td>896</td><td>9,141</td><td>676</td><td>255</td><td>6,372</td><td>70</td><td>16,514</td></tr><tr><td>Oct. 18</td><td>6,437</td><td>128</td><td>147</td><td>334</td><td>140</td><td>187</td><td>802</td><td>8,175</td><td>474</td><td>322</td><td>6,941</td><td>70</td><td>15,982</td></tr><tr><td>Oct. 25</td><td>7,455</td><td>333</td><td>133</td><td>302</td><td>287</td><td>181</td><td>1,078</td><td>9,769</td><td>1,005</td><td>355</td><td>7,124</td><td>72</td><td>18,325</td></tr><tr><td>Nov. 1</td><td>7,935</td><td>244</td><td>150</td><td>341</td><td>102</td><td>159</td><td>964</td><td>9,895</td><td>1,190</td><td>311</td><td>5,695</td><td>28</td><td>17,119</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>Oct. 4</td><td>34,805</td><td>1,582</td><td>23</td><td>10</td><td>441</td><td>7</td><td>119</td><td>36,987</td><td>232</td><td>-</td><td>120</td><td>-</td><td>37,233</td></tr><tr><td>Oct. 11</td><td>31,108</td><td>1,554</td><td>23</td><td>10</td><td>431</td><td>4</td><td>135</td><td>33,265</td><td>221</td><td>-</td><td>112</td><td>9</td><td>33,607</td></tr><tr><td>Oct. 18</td><td>30,299</td><td>1,589</td><td>23</td><td>12</td><td>385</td><td>1</td><td>121</td><td>32,430</td><td>233</td><td>-</td><td>101</td><td>9</td><td>32,773</td></tr><tr><td>Oct. 25</td><td>30,177</td><td>1,347</td><td>11</td><td>90</td><td>422</td><td>6</td><td>113</td><td>32,766</td><td>232</td><td>-</td><td>111</td><td>9</td><td>33,118</td></tr><tr><td>Nov. 1</td><td>29,600</td><td>1,293</td><td>-</td><td>89</td><td>515</td><td>6</td><td>121</td><td>31,624</td><td>234</td><td>2</td><td>72</td><td>11</td><td>31,943</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>Oct. 4</td><td>3,580</td><td>126</td><td>10</td><td>46</td><td>197</td><td>59</td><td>508</td><td>4,526</td><td>161</td><td>144</td><td>1,796</td><td>291</td><td>6,918</td></tr><tr><td>Oct. 11</td><td>3,797</td><td>119</td><td>6</td><td>43</td><td>203</td><td>56</td><td>521</td><td>4,745</td><td>156</td><td>185</td><td>1,837</td><td>287</td><td>7,210</td></tr><tr><td>Oct. 18</td><td>3,594</td><td>121</td><td>10</td><td>112</td><td>203</td><td>126</td><td>548</td><td>4,714</td><td>149</td><td>222</td><td>2,035</td><td>347</td><td>7,467</td></tr><tr><td>Oct. 25</td><td>3,792</td><td>180</td><td>9</td><td>111</td><td>219</td><td>124</td><td>527</td><td>4,962</td><td>149</td><td>242</td><td>2,163</td><td>367</td><td>7,883</td></tr><tr><td>Nov. 1</td><td>4,353</td><td>107</td><td>6</td><td>110</td><td>183</td><td>101</td><td>413</td><td>5,273</td><td>170</td><td>209</td><td>2,339</td><td>371</td><td>8,362</td></tr></table>
36
Short-Term Foreign Assets as Reported by Banks and Bankers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Assets as of following dates</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>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></tr><tr><td>Oct. 4</td><td>62,341</td><td>9,244</td><td>66,314</td><td>13,340</td><td>9,265</td><td>3,593</td><td>44,135</td><td>208,232</td><td>60,073</td><td>111,031</td><td>115,008</td><td>11,868</td><td>506,212</td></tr><tr><td>Oct. 11</td><td>68,596</td><td>8,669</td><td>62,740</td><td>12,842</td><td>9,507</td><td>3,980</td><td>47,354</td><td>213,488</td><td>55,864</td><td>109,463</td><td>111,809</td><td>12,082</td><td>502,706</td></tr><tr><td>Oct. 18</td><td>71,127</td><td>9,333</td><td>62,457</td><td>11,692</td><td>9,577</td><td>4,178</td><td>45,979</td><td>214,343</td><td>47,344</td><td>110,645</td><td>170,456</td><td>11,291</td><td>554,079</td></tr><tr><td>Oct. 25</td><td>64,496</td><td>8,552</td><td>60,653</td><td>11,776</td><td>9,329</td><td>3,866</td><td>48,523</td><td>207,195</td><td>51,114</td><td>111,991</td><td>172,638</td><td>11,883</td><td>554,821</td></tr><tr><td>Nov. 1</td><td>63,016</td><td>7,301</td><td>59,525</td><td>12,009</td><td>9,079</td><td>3,878</td><td>49,624</td><td>204,432</td><td>53,042</td><td>111,800</td><td>175,603</td><td>11,355</td><td>556,232</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></tr><tr><td>Oct. 4</td><td>38,511</td><td>1,716</td><td>499</td><td>1,151</td><td>2,698</td><td>788</td><td>3,815</td><td>49,178</td><td>14,929</td><td>3,447</td><td>24,423</td><td>1,020</td><td>92,997</td></tr><tr><td>Oct. 11</td><td>43,823</td><td>1,293</td><td>485</td><td>1,086</td><td>2,431</td><td>678</td><td>3,765</td><td>53,561</td><td>13,790</td><td>4,080</td><td>23,953</td><td>928</td><td>96,312</td></tr><tr><td>Oct. 18</td><td>46,995</td><td>1,441</td><td>665</td><td>1,017</td><td>2,518</td><td>727</td><td>3,772</td><td>57,135</td><td>11,658</td><td>3,817</td><td>23,732</td><td>1,072</td><td>97,414</td></tr><tr><td>Oct. 25</td><td>42,448</td><td>1,074</td><td>641</td><td>995</td><td>2,847</td><td>649</td><td>3,391</td><td>52,045</td><td>12,422</td><td>3,633</td><td>23,346</td><td>1,048</td><td>92,494</td></tr><tr><td>Nov. 1</td><td>42,350</td><td>756</td><td>628</td><td>1,002</td><td>2,561</td><td>548</td><td>3,286</td><td>51,131</td><td>11,641</td><td>3,270</td><td>23,078</td><td>1,248</td><td>90,368</td></tr><tr><td>Banker 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></tr><tr><td>Oct. 4</td><td>25,034</td><td>1,232</td><td>79</td><td>51</td><td>1,920</td><td>628</td><td>1,521</td><td>30,465</td><td>10,263</td><td>511</td><td>2,572</td><td>48</td><td>43,859</td></tr><tr><td>Oct. 11</td><td>29,397</td><td>895</td><td>63</td><td>40</td><td>1,757</td><td>445</td><td>1,530</td><td>34,127</td><td>10,083</td><td>880</td><td>2,573</td><td>40</td><td>47,703</td></tr><tr><td>Oct. 18</td><td>31,872</td><td>1,034</td><td>246</td><td>29</td><td>1,846</td><td>502</td><td>1,374</td><td>36,903</td><td>7,777</td><td>608</td><td>2,281</td><td>38</td><td>47,607</td></tr><tr><td>Oct. 25</td><td>27,880</td><td>593</td><td>218</td><td>33</td><td>2,431</td><td>484</td><td>970</td><td>32,609</td><td>8,470</td><td>1,321</td><td>2,313</td><td>42</td><td>44,755</td></tr><tr><td>Nov. 1</td><td>26,789</td><td>385</td><td>201</td><td>60</td><td>2,074</td><td>387</td><td>953</td><td>30,849</td><td>7,646</td><td>1,113</td><td>2,019</td><td>51</td><td>41,678</td></tr><tr><td>Deposits abroad for account of domestic clients:</td><td></td><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>Oct. 4</td><td>5,052</td><td>295</td><td>392</td><td>974</td><td>87</td><td>27</td><td>695</td><td>7,522</td><td>2,077</td><td>89</td><td>19,762</td><td>28</td><td>29,478</td></tr><tr><td>Oct. 11</td><td>5,520</td><td>263</td><td>398</td><td>924</td><td>82</td><td>55</td><td>646</td><td>7,908</td><td>1,223</td><td>579</td><td>19,757</td><td>69</td><td>29,536</td></tr><tr><td>Oct. 18</td><td>6,798</td><td>274</td><td>397</td><td>879</td><td>84</td><td>52</td><td>694</td><td>9,178</td><td>1,347</td><td>591</td><td>19,757</td><td>31</td><td>30,904</td></tr><tr><td>Oct. 25</td><td>6,155</td><td>247</td><td>399</td><td>848</td><td>88</td><td>52</td><td>712</td><td>8,501</td><td>1,440</td><td>654</td><td>19,670</td><td>31</td><td>30,296</td></tr><tr><td>Nov. 1</td><td>6,521</td><td>250</td><td>403</td><td>810</td><td>129</td><td>59</td><td>671</td><td>8,843</td><td>1,425</td><td>593</td><td>19,715</td><td>31</td><td>30,607</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></tr><tr><td>Oct. 4</td><td>8,425</td><td>189</td><td>28</td><td>126</td><td>691</td><td>133</td><td>1,599</td><td>11,191</td><td>2,589</td><td>2,847</td><td>2,089</td><td>944</td><td>19,660</td></tr><tr><td>Oct. 11</td><td>8,886</td><td>135</td><td>24</td><td>122</td><td>592</td><td>178</td><td>1,589</td><td>11,526</td><td>2,484</td><td>2,621</td><td>1,623</td><td>819</td><td>19,073</td></tr><tr><td>Oct. 18</td><td>8,325</td><td>133</td><td>22</td><td>109</td><td>588</td><td>173</td><td>1,704</td><td>11,054</td><td>2,534</td><td>2,618</td><td>1,694</td><td>1,003</td><td>18,903</td></tr><tr><td>Oct. 25</td><td>8,413</td><td>234</td><td>24</td><td>114</td><td>328</td><td>113</td><td>1,709</td><td>10,935</td><td>2,512</td><td>1,658</td><td>1,363</td><td>975</td><td>17,443</td></tr><tr><td>Nov. 1</td><td>9,040</td><td>121</td><td>24</td><td>132</td><td>358</td><td>102</td><td>1,662</td><td>11,439</td><td>2,570</td><td>1,504</td><td>1,344</td><td>1,166</td><td>18,083</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></tr><tr><td>Oct. 4</td><td>23,830</td><td>7,528</td><td>65,815</td><td>12,189</td><td>6,567</td><td>2,805</td><td>40,320</td><td>159,054</td><td>45,144</td><td>107,584</td><td>90,585</td><td>10,848</td><td>413,215</td></tr><tr><td>Oct. 11</td><td>24,773</td><td>7,376</td><td>62,255</td><td>11,556</td><td>7,076</td><td>3,302</td><td>43,589</td><td>159,927</td><td>42,074</td><td>105,383</td><td>87,856</td><td>11,154</td><td>406,394</td></tr><tr><td>Oct. 18</td><td>24,132</td><td>7,892</td><td>61,792</td><td>10,675</td><td>7,059</td><td>3,451</td><td>42,207</td><td>157,208</td><td>35,686</td><td>106,828</td><td>146,724</td><td>10,219</td><td>456,665</td></tr><tr><td>Oct. 25</td><td>22,048</td><td>7,478</td><td>60,012</td><td>10,781</td><td>6,482</td><td>3,217</td><td>45,132</td><td>155,150</td><td>38,692</td><td>108,358</td><td>149,692</td><td>10,835</td><td>462,327</td></tr><tr><td>Nov. 1</td><td>20,666</td><td>6,545</td><td>58,897</td><td>11,007</td><td>6,518</td><td>3,330</td><td>46,338</td><td>153,301</td><td>41,401</td><td>108,530</td><td>152,525</td><td>10,107</td><td>465,804</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></tr><tr><td>Oct. 4</td><td>10,509</td><td>916</td><td>29,253</td><td>4,845</td><td>939</td><td>523</td><td>8,862</td><td>55,847</td><td>18,138</td><td>14,048</td><td>57,426</td><td>202</td><td>145,661</td></tr><tr><td>Oct. 11</td><td>10,629</td><td>784</td><td>29,530</td><td>4,306</td><td>816</td><td>605</td><td>11,004</td><td>57,674</td><td>14,912</td><td>13,182</td><td>55,921</td><td>726</td><td>142,415</td></tr><tr><td>Oct. 18</td><td>11,173</td><td>1,382</td><td>26,268</td><td>3,749</td><td>851</td><td>518</td><td>9,147</td><td>53,088</td><td>10,271</td><td>12,854</td><td>112,308</td><td>776</td><td>189,297</td></tr><tr><td>Oct. 25</td><td>9,745</td><td>1,319</td><td>25,253</td><td>3,801</td><td>900</td><td>261</td><td>9,668</td><td>50,947</td><td>12,548</td><td>12,805</td><td>114,841</td><td>788</td><td>191,329</td></tr><tr><td>Nov. 1</td><td>7,930</td><td>682</td><td>25,697</td><td>3,875</td><td>1,004</td><td>492</td><td>9,996</td><td>49,676</td><td>13,585</td><td>12,892</td><td>114,966</td><td>181</td><td>191,300</td></tr><tr><td>Acceptances 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></tr><tr><td>Oct. 4</td><td>3,072</td><td>2,883</td><td>20,866</td><td>5,738</td><td>3,094</td><td>1,830</td><td>8,334</td><td>45,817</td><td>3,983</td><td>30,276</td><td>2,670</td><td>1,201</td><td>83,917</td></tr><tr><td>Oct. 11</td><td>2,954</td><td>2,852</td><td>18,758</td><td>5,696</td><td>3,211</td><td>2,130</td><td>8,947</td><td>44,548</td><td>4,024</td><td>29,532</td><td>2,418</td><td>1,253</td><td>81,775</td></tr><tr><td>Oct. 18</td><td>3,006</td><td>2,864</td><td>21,561</td><td>5,410</td><td>3,000</td><td>2,298</td><td>9,805</td><td>47,944</td><td>3,990</td><td>29,348</td><td>2,998</td><td>983</td><td>85,263</td></tr><tr><td>Oct. 25</td><td>2,847</td><td>2,920</td><td>20,559</td><td>5,644</td><td>2,909</td><td>2,372</td><td>10,534</td><td>47,785</td><td>4,210</td><td>29,263</td><td>2,591</td><td>962</td><td>84,811</td></tr><tr><td>Nov. 1</td><td>2,838</td><td>2,759</td><td>18,976</td><td>5,819</td><td>3,055</td><td>2,302</td><td>11,498</td><td>47,247</td><td>4,135</td><td>28,487</td><td>2,449</td><td>1,059</td><td>83,377</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></tr><tr><td>Oct. 4</td><td>10,249</td><td>3,729</td><td>15,696</td><td>1,606</td><td>2,534</td><td>452</td><td>23,124</td><td>57,390</td><td>23,023</td><td>63,260</td><td>30,489</td><td>9,445</td><td>183,607</td></tr><tr><td>Oct. 11</td><td>11,190</td><td>3,740</td><td>13,967</td><td>1,554</td><td>3,049</td><td>567</td><td>23,638</td><td>57,705</td><td>23,138</td><td>62,669</td><td>29,517</td><td>9,175</td><td>182,204</td></tr><tr><td>Oct. 18</td><td>9,953</td><td>3,646</td><td>13,963</td><td>1,516</td><td>3,208</td><td>635</td><td>23,255</td><td>56,176</td><td>21,425</td><td>64,626</td><td>31,418</td><td>8,460</td><td>182,105</td></tr><tr><td>Oct. 25</td><td>9,456</td><td>3,239</td><td>14,200</td><td>1,336</td><td>2,673</td><td>584</td><td>24,930</td><td>56,418</td><td>21,934</td><td>66,890</td><td>31,860</td><td>9,085</td><td>186,187</td></tr><tr><td>Nov. 1</td><td>9,898</td><td>3,104</td><td>14,224</td><td>1,313</td><td>2,459</td><td>536</td><td>24,844</td><td>56,378</td><td>23,681</td><td>67,151</td><td>35,110</td><td>8,867</td><td>191,187</td></tr></table>
37
Security Transactions as Reported by Banks, Bankers, Brokers and Dealers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Transactions during week ended-</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><b>TOTAL PURCHASES IN THE UNITED STATES FOR FOREIGN ACCOUNT:</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><td></td></tr><tr><td>Oct. 4</td><td>1,829</td><td>8,158</td><td>20</td><td>208</td><td>2,221</td><td>3,412</td><td>2,524</td><td>18,372</td><td>3,553</td><td>1,665</td><td>2,231</td><td>172</td><td>25,993</td></tr><tr><td>Oct. 11</td><td>960</td><td>2,454</td><td>11</td><td>85</td><td>2,208</td><td>3,802</td><td>2,011</td><td>11,531</td><td>2,285</td><td>1,820</td><td>3,314</td><td>191</td><td>19,141</td></tr><tr><td>Oct. 18</td><td>1,215</td><td>1,304</td><td>19</td><td>214</td><td>1,657</td><td>8,483</td><td>1,385</td><td>14,277</td><td>2,263</td><td>1,169</td><td>1,064</td><td>288</td><td>19,061</td></tr><tr><td>Oct. 25</td><td>1,605</td><td>1,821</td><td>12</td><td>78</td><td>1,962</td><td>4,285</td><td>2,835</td><td>12,598</td><td>2,699</td><td>1,768</td><td>2,915</td><td>201</td><td>20,181</td></tr><tr><td>Nov. 1</td><td>1,444</td><td>2,083</td><td>35</td><td>635</td><td>2,421</td><td>4,083</td><td>1,810</td><td>12,511</td><td>3,076</td><td>2,262</td><td>2,509</td><td>150</td><td>20,508</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>Oct. 4</td><td>1,454</td><td>1,048</td><td>13</td><td>192</td><td>2,127</td><td>3,052</td><td>1,599</td><td>9,485</td><td>2,195</td><td>1,181</td><td>2,098</td><td>83</td><td>15,042</td></tr><tr><td>Oct. 11</td><td>661</td><td>2,284</td><td>6</td><td>27</td><td>2,104</td><td>3,596</td><td>1,479</td><td>10,157</td><td>1,707</td><td>1,373</td><td>3,098</td><td>135</td><td>16,470</td></tr><tr><td>Oct. 18</td><td>796</td><td>888</td><td>11</td><td>199</td><td>1,608</td><td>8,164</td><td>1,005</td><td>12,571</td><td>1,429</td><td>836</td><td>977</td><td>79</td><td>15,992</td></tr><tr><td>Oct. 25</td><td>1,275</td><td>1,700</td><td>8</td><td>23</td><td>1,745</td><td>3,811</td><td>1,844</td><td>10,406</td><td>2,384</td><td>1,497</td><td>2,796</td><td>95</td><td>17,178</td></tr><tr><td>Nov. 1</td><td>1,277</td><td>1,868</td><td>20</td><td>36</td><td>2,233</td><td>3,681</td><td>1,364</td><td>10,484</td><td>2,455</td><td>1,622</td><td>2,381</td><td>75</td><td>17,017</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>Oct. 4</td><td>375</td><td>7,110</td><td>7</td><td>16</td><td>94</td><td>360</td><td>925</td><td>8,887</td><td>1,358</td><td>484</td><td>133</td><td>89</td><td>10,951</td></tr><tr><td>Oct. 11</td><td>299</td><td>170</td><td>5</td><td>58</td><td>104</td><td>206</td><td>532</td><td>1,374</td><td>578</td><td>447</td><td>216</td><td>56</td><td>2,671</td></tr><tr><td>Oct. 18</td><td>419</td><td>416</td><td>8</td><td>15</td><td>49</td><td>319</td><td>380</td><td>1,606</td><td>834</td><td>333</td><td>87</td><td>209</td><td>3,069</td></tr><tr><td>Oct. 25</td><td>330</td><td>121</td><td>4</td><td>55</td><td>217</td><td>474</td><td>991</td><td>2,192</td><td>315</td><td>271</td><td>119</td><td>106</td><td>3,003</td></tr><tr><td>Nov. 1</td><td>167</td><td>215</td><td>15</td><td>599</td><td>183</td><td>402</td><td>446</td><td>2,027</td><td>621</td><td>640</td><td>128</td><td>75</td><td>3,491</td></tr><tr><td><b>TOTAL SALES IN THE UNITED STATES FOR FOREIGN ACCOUNT:</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><td></td></tr><tr><td>Oct. 4</td><td>12,281</td><td>1,408</td><td>157</td><td>140</td><td>3,077</td><td>3,113</td><td>1,531</td><td>21,707</td><td>3,729</td><td>1,312</td><td>2,898</td><td>206</td><td>29,852</td></tr><tr><td>Oct. 11</td><td>8,246</td><td>3,033</td><td>29</td><td>86</td><td>1,330</td><td>2,894</td><td>1,260</td><td>16,878</td><td>2,753</td><td>1,519</td><td>2,496</td><td>179</td><td>23,825</td></tr><tr><td>Oct. 18</td><td>7,313</td><td>1,149</td><td>80</td><td>91</td><td>2,994</td><td>1,786</td><td>1,552</td><td>14,965</td><td>2,804</td><td>638</td><td>1,067</td><td>92</td><td>19,566</td></tr><tr><td>Oct. 25</td><td>13,316</td><td>1,536</td><td>32</td><td>51</td><td>1,596</td><td>4,231</td><td>1,413</td><td>22,175</td><td>3,652</td><td>1,250</td><td>1,906</td><td>141</td><td>29,124</td></tr><tr><td>Nov. 1</td><td>10,173</td><td>1,603</td><td>66</td><td>162</td><td>2,813</td><td>3,024</td><td>1,210</td><td>19,051</td><td>3,060</td><td>1,954</td><td>1,468</td><td>92</td><td>25,625</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>Oct. 4</td><td>11,651</td><td>1,322</td><td>157</td><td>140</td><td>2,822</td><td>2,582</td><td>1,346</td><td>20,020</td><td>3,293</td><td>1,099</td><td>2,862</td><td>179</td><td>27,453</td></tr><tr><td>Oct. 11</td><td>7,648</td><td>2,837</td><td>24</td><td>84</td><td>1,215</td><td>2,623</td><td>1,010</td><td>15,441</td><td>2,307</td><td>1,341</td><td>2,469</td><td>161</td><td>21,719</td></tr><tr><td>Oct. 18</td><td>6,863</td><td>1,132</td><td>77</td><td>90</td><td>2,800</td><td>1,401</td><td>1,421</td><td>13,784</td><td>2,523</td><td>539</td><td>1,059</td><td>90</td><td>17,995</td></tr><tr><td>Oct. 25</td><td>12,836</td><td>1,447</td><td>32</td><td>40</td><td>1,449</td><td>3,845</td><td>1,020</td><td>20,669</td><td>3,251</td><td>987</td><td>1,891</td><td>141</td><td>26,939</td></tr><tr><td>Nov. 1</td><td>9,849</td><td>1,511</td><td>62</td><td>30</td><td>2,650</td><td>2,122</td><td>1,029</td><td>17,253</td><td>2,807</td><td>1,510</td><td>1,438</td><td>89</td><td>23,097</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>Oct. 4</td><td>630</td><td>86</td><td>-</td><td>-</td><td>255</td><td>531</td><td>185</td><td>1,687</td><td>436</td><td>213</td><td>36</td><td>27</td><td>2,399</td></tr><tr><td>Oct. 11</td><td>598</td><td>196</td><td>5</td><td>2</td><td>115</td><td>272</td><td>250</td><td>1,437</td><td>446</td><td>178</td><td>27</td><td>18</td><td>2,106</td></tr><tr><td>Oct. 18</td><td>450</td><td>17</td><td>3</td><td>1</td><td>194</td><td>385</td><td>131</td><td>1,181</td><td>281</td><td>99</td><td>8</td><td>2</td><td>1,571</td></tr><tr><td>Oct. 25</td><td>480</td><td>89</td><td>-</td><td>11</td><td>147</td><td>386</td><td>393</td><td>1,506</td><td>401</td><td>263</td><td>15</td><td>-</td><td>2,185</td></tr><tr><td>Nov. 1</td><td>324</td><td>92</td><td>4</td><td>132</td><td>163</td><td>902</td><td>181</td><td>1,798</td><td>253</td><td>444</td><td>30</td><td>3</td><td>2,528</td></tr><tr><td><b>TOTAL PURCHASES EXECUTED ABROAD FOR DOMESTIC ACCOUNT:</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><td></td></tr><tr><td>Oct. 4</td><td>75</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>81</td><td>157</td><td>1,600</td><td>-</td><td>-</td><td>26</td><td>1,783</td></tr><tr><td>Oct. 11</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td><td>162</td><td>-</td><td>30</td><td>-</td><td>236</td></tr><tr><td>Oct. 18</td><td>85</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>87</td><td>485</td><td>-</td><td>7</td><td>-</td><td>579</td></tr><tr><td>Oct. 25</td><td>109</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>112</td><td>538</td><td>14</td><td>-</td><td>-</td><td>664</td></tr><tr><td>Nov. 1</td><td>145</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>145</td><td>567</td><td>-</td><td>30</td><td>-</td><td>742</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>Oct. 4</td><td>54</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>81</td><td>135</td><td>2</td><td>-</td><td>-</td><td>26</td><td>163</td></tr><tr><td>Oct. 11</td><td>38</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>38</td><td>5</td><td>-</td><td>-</td><td>-</td><td>43</td></tr><tr><td>Oct. 18</td><td>57</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>59</td><td>-</td><td>-</td><td>7</td><td>-</td><td>66</td></tr><tr><td>Oct. 25</td><td>57</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>60</td><td>9</td><td>-</td><td>-</td><td>-</td><td>69</td></tr><tr><td>Nov. 1</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td><td>65</td><td>-</td><td>-</td><td>-</td><td>109</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>Oct. 4</td><td>21</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>22</td><td>1,598</td><td>-</td><td>-</td><td>-</td><td>1,620</td></tr><tr><td>Oct. 11</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6</td><td>157</td><td>-</td><td>30</td><td>-</td><td>193</td></tr><tr><td>Oct. 18</td><td>28</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28</td><td>485</td><td>-</td><td>-</td><td>-</td><td>513</td></tr><tr><td>Oct. 25</td><td>52</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>52</td><td>529</td><td>14</td><td>-</td><td>-</td><td>595</td></tr><tr><td>Nov. 1</td><td>101</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>101</td><td>502</td><td>-</td><td>30</td><td>-</td><td>633</td></tr><tr><td><b>TOTAL SALES EXECUTED ABROAD FOR DOMESTIC ACCOUNT:</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><td></td></tr><tr><td>Oct. 4</td><td>223</td><td>-</td><td>-</td><td>-</td><td>3</td><td>3</td><td>4</td><td>233</td><td>659</td><td>-</td><td>-</td><td>-</td><td>892</td></tr><tr><td>Oct. 11</td><td>162</td><td>-</td><td>4</td><td>-</td><td>16</td><td>3</td><td>1</td><td>182</td><td>147</td><td>-</td><td>-</td><td>-</td><td>329</td></tr><tr><td>Oct. 18</td><td>405</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>408</td><td>143</td><td>2</td><td>-</td><td>-</td><td>553</td></tr><tr><td>Oct. 25</td><td>213</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>219</td><td>161</td><td>7</td><td>-</td><td>-</td><td>387</td></tr><tr><td>Nov. 1</td><td>162</td><td>-</td><td>20</td><td>-</td><td>-</td><td>-</td><td>4</td><td>186</td><td>943</td><td>-</td><td>-</td><td>-</td><td>1,129</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>Oct. 4</td><td>-</td><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>Oct. 11</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22</td></tr><tr><td>Oct. 18</td><td>17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>-</td><td>20</td><td>-</td><td>2</td><td>-</td><td>-</td><td>7</td></tr><tr><td>Oct. 25</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4</td><td>7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>34</td></tr><tr><td>Nov. 1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>30</td><td>-</td><td>-</td><td>-</td><td>-</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>Oct. 4</td><td>223</td><td>-</td><td>-</td><td>-</td><td>3</td><td>3</td><td>4</td><td>233</td><td>659</td><td>-</td><td>-</td><td>-</td><td>892</td></tr><tr><td>Oct. 11</td><td>162</td><td>-</td><td>4</td><td>-</td><td>16</td><td>3</td><td>1</td><td>182</td><td>147</td><td>-</td><td>-</td><td>-</td><td>329</td></tr><tr><td>Oct. 18</td><td>388</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>388</td><td>143</td><td>-</td><td>-</td><td>-</td><td>531</td></tr><tr><td>Oct. 25</td><td>206</td><td>-</td><td>6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>212</td><td>161</td><td>7</td><td>-</td><td>-</td><td>380</td></tr><tr><td>Nov. 1</td><td>162</td><td>-</td><td>20</td><td>-</td><td>-</td><td>-</td><td>-</td><td>182</td><td>913</td><td>-</td><td>-</td><td>-</td><td>1,095</td></tr></table>
38
Security Transactions in Joint Foreign Arbitrage Accounts as Reported by Brokers and Dealers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Transactions during week ended-</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 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></tr><tr><td>Oct. 4</td><td>65</td><td>-</td><td>-</td><td>-</td><td>128</td><td>20</td><td>-</td><td>213</td><td>303</td><td>-</td><td>-</td><td>-</td><td>516</td></tr><tr><td>Oct. 11</td><td>59</td><td>-</td><td>-</td><td>-</td><td>106</td><td>35</td><td>13</td><td>213</td><td>183</td><td>-</td><td>-</td><td>-</td><td>396</td></tr><tr><td>Oct. 18</td><td>50</td><td>-</td><td>-</td><td>-</td><td>73</td><td>27</td><td>4</td><td>154</td><td>436</td><td>-</td><td>-</td><td>-</td><td>590</td></tr><tr><td>Oct. 25</td><td>25</td><td>-</td><td>-</td><td>-</td><td>56</td><td>46</td><td>-</td><td>127</td><td>715</td><td>4</td><td>-</td><td>-</td><td>846</td></tr><tr><td>Nov. 1</td><td>44</td><td>-</td><td>-</td><td>-</td><td>91</td><td>68</td><td>-</td><td>203</td><td>861</td><td>3</td><td>-</td><td>-</td><td>1,067</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></tr><tr><td>Oct. 4</td><td>4</td><td>-</td><td>-</td><td>-</td><td>128</td><td>-</td><td>-</td><td>132</td><td>-</td><td>-</td><td>-</td><td>-</td><td>132</td></tr><tr><td>Oct. 11</td><td>3</td><td>-</td><td>-</td><td>-</td><td>106</td><td>15</td><td>-</td><td>124</td><td>-</td><td>-</td><td>-</td><td>-</td><td>124</td></tr><tr><td>Oct. 18</td><td>41</td><td>-</td><td>-</td><td>-</td><td>73</td><td>17</td><td>-</td><td>131</td><td>1</td><td>-</td><td>-</td><td>-</td><td>132</td></tr><tr><td>Oct. 25</td><td>3</td><td>-</td><td>-</td><td>-</td><td>56</td><td>18</td><td>-</td><td>77</td><td>3</td><td>4</td><td>-</td><td>-</td><td>84</td></tr><tr><td>Nov. 1</td><td>6</td><td>-</td><td>-</td><td>-</td><td>90</td><td>48</td><td>-</td><td>144</td><td>-</td><td>3</td><td>-</td><td>-</td><td>147</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></tr><tr><td>Oct. 4</td><td>61</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20</td><td>-</td><td>81</td><td>303</td><td>-</td><td>-</td><td>-</td><td>384</td></tr><tr><td>Oct. 11</td><td>56</td><td>-</td><td>-</td><td>-</td><td>-</td><td>20</td><td>13</td><td>89</td><td>183</td><td>-</td><td>-</td><td>-</td><td>272</td></tr><tr><td>Oct. 18</td><td>9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>10</td><td>4</td><td>23</td><td>435</td><td>-</td><td>-</td><td>-</td><td>458</td></tr><tr><td>Oct. 25</td><td>22</td><td>-</td><td>-</td><td>-</td><td>-</td><td>28</td><td>-</td><td>50</td><td>712</td><td>-</td><td>-</td><td>-</td><td>762</td></tr><tr><td>Nov. 1</td><td>38</td><td>-</td><td>-</td><td>-</td><td>1</td><td>20</td><td>-</td><td>59</td><td>861</td><td>-</td><td>-</td><td>-</td><td>920</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></tr><tr><td>Oct. 4</td><td>1,315</td><td>76</td><td>-</td><td>-</td><td>514</td><td>13</td><td>7</td><td>1,925</td><td>351</td><td>5</td><td>-</td><td>-</td><td>2,281</td></tr><tr><td>Oct. 11</td><td>704</td><td>28</td><td>-</td><td>-</td><td>25</td><td>3</td><td>1</td><td>761</td><td>238</td><td>12</td><td>-</td><td>-</td><td>1,011</td></tr><tr><td>Oct. 18</td><td>721</td><td>12</td><td>-</td><td>-</td><td>105</td><td>4</td><td>-</td><td>842</td><td>400</td><td>-</td><td>-</td><td>-</td><td>1,242</td></tr><tr><td>Oct. 25</td><td>1,242</td><td>1</td><td>-</td><td>-</td><td>183</td><td>33</td><td>-</td><td>1,459</td><td>784</td><td>2</td><td>-</td><td>-</td><td>2,245</td></tr><tr><td>Nov. 1</td><td>810</td><td>-</td><td>-</td><td>-</td><td>83</td><td>45</td><td>-</td><td>938</td><td>866</td><td>-</td><td>-</td><td>-</td><td>1,804</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></tr><tr><td>Oct. 4</td><td>1,230</td><td>-</td><td>-</td><td>-</td><td>514</td><td>13</td><td>-</td><td>1,757</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,757</td></tr><tr><td>Oct. 11</td><td>598</td><td>-</td><td>-</td><td>-</td><td>25</td><td>3</td><td>-</td><td>626</td><td>-</td><td>7</td><td>-</td><td>-</td><td>633</td></tr><tr><td>Oct. 18</td><td>641</td><td>-</td><td>-</td><td>-</td><td>105</td><td>4</td><td>-</td><td>750</td><td>-</td><td>-</td><td>-</td><td>-</td><td>750</td></tr><tr><td>Oct. 25</td><td>1,210</td><td>-</td><td>-</td><td>-</td><td>181</td><td>33</td><td>-</td><td>1,424</td><td>-</td><td>2</td><td>-</td><td>-</td><td>1,426</td></tr><tr><td>Nov. 1</td><td>739</td><td>-</td><td>-</td><td>-</td><td>78</td><td>43</td><td>-</td><td>860</td><td>-</td><td>-</td><td>-</td><td>-</td><td>860</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></tr><tr><td>Oct. 4</td><td>85</td><td>76</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7</td><td>168</td><td>351</td><td>5</td><td>-</td><td>-</td><td>524</td></tr><tr><td>Oct. 11</td><td>106</td><td>28</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>135</td><td>238</td><td>5</td><td>-</td><td>-</td><td>378</td></tr><tr><td>Oct. 18</td><td>80</td><td>12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>92</td><td>400</td><td>-</td><td>-</td><td>-</td><td>492</td></tr><tr><td>Oct. 25</td><td>32</td><td>1</td><td>-</td><td>-</td><td>2</td><td>-</td><td>-</td><td>35</td><td>784</td><td>-</td><td>-</td><td>-</td><td>819</td></tr><tr><td>Nov. 1</td><td>71</td><td>-</td><td>-</td><td>-</td><td>5</td><td>2</td><td>-</td><td>78</td><td>866</td><td>-</td><td>-</td><td>-</td><td>944</td></tr></table>
Foreign Balances in Brokerage Accounts as Reported by Brokers and Dealers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Balances as of following dates</th><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nether-lands</th><th>Switer-land</th><th>Other Europe</th><th>Total Europe</th><th>Canada</th><th>Latina 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>Oct. 4</td><td>4,091</td><td>3,486</td><td>67</td><td>71</td><td>2,349</td><td>1,756</td><td>4,860</td><td>16,680</td><td>15,062</td><td>4,892</td><td>10,975</td><td>598</td><td>48,207</td></tr><tr><td>Oct. 11</td><td>4,751</td><td>3,666</td><td>31</td><td>87</td><td>3,065</td><td>2,839</td><td>5,299</td><td>19,738</td><td>15,014</td><td>4,542</td><td>11,481</td><td>446</td><td>51,221</td></tr><tr><td>Oct. 18</td><td>4,107</td><td>2,990</td><td>30</td><td>93</td><td>2,560</td><td>2,457</td><td>4,987</td><td>17,224</td><td>14,728</td><td>4,720</td><td>11,355</td><td>415</td><td>48,442</td></tr><tr><td>Oct. 25</td><td>4,089</td><td>3,052</td><td>60</td><td>75</td><td>2,592</td><td>2,320</td><td>5,119</td><td>17,307</td><td>14,741</td><td>4,964</td><td>12,769</td><td>424</td><td>50,205</td></tr><tr><td>Nov. 1</td><td>3,855</td><td>3,208</td><td>71</td><td>85</td><td>2,468</td><td>2,543</td><td>5,342</td><td>17,572</td><td>14,569</td><td>5,212</td><td>13,615</td><td>421</td><td>51,389</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>Oct. 4</td><td>9,984</td><td>7,798</td><td>153</td><td>99</td><td>5,719</td><td>12,437</td><td>3,889</td><td>40,079</td><td>4,504</td><td>4,672</td><td>1,235</td><td>1,426</td><td>51,916</td></tr><tr><td>Oct. 11</td><td>10,079</td><td>7,130</td><td>137</td><td>96</td><td>4,974</td><td>10,982</td><td>2,956</td><td>36,354</td><td>4,710</td><td>4,647</td><td>1,395</td><td>1,506</td><td>48,612</td></tr><tr><td>Oct. 18</td><td>9,961</td><td>7,802</td><td>145</td><td>97</td><td>5,663</td><td>12,899</td><td>3,328</td><td>39,895</td><td>4,680</td><td>4,489</td><td>1,071</td><td>1,608</td><td>51,743</td></tr><tr><td>Oct. 25</td><td>8,731</td><td>8,031</td><td>170</td><td>79</td><td>5,318</td><td>13,248</td><td>3,430</td><td>39,007</td><td>4,848</td><td>4,975</td><td>1,158</td><td>1,570</td><td>51,558</td></tr><tr><td>Nov. 1</td><td>9,291</td><td>8,856</td><td>186</td><td>79</td><td>4,941</td><td>13,492</td><td>4,468</td><td>41,313</td><td>4,969</td><td>4,842</td><td>1,331</td><td>1,562</td><td>54,017</td></tr></table>
39
Foreign Purchases and Sales and Net Purchases or Sales of U.S. Domestic Securities
(in thousands of dollars)
<table><tr><th>Transactions during week ended-</th><th>Total purchases</th><th>Total sales</th><th>Net purchases or sales (-)</th><th>Transactions during week ended-</th><th>Total purchases</th><th>Total sales</th><th>Net purchases or sales (-)</th><th>Transactions during week ended-</th><th>Total purchases</th><th>Total sales</th><th>Net purchases or sales (-)</th></tr><tr><td>1936-Jan. 8....</td><td>49,555</td><td>30,020</td><td>19,535</td><td>1937-May 5....</td><td>44,852</td><td>67,685</td><td>-22,833</td><td>1938-Sept. 7....</td><td>12,060</td><td>13,819</td><td>-1,759</td></tr><tr><td>15....</td><td>49,591</td><td>49,064</td><td>527</td><td>12....</td><td>34,423</td><td>25,111</td><td>9,312</td><td>14....</td><td>15,463</td><td>18,411</td><td>-2,948</td></tr><tr><td>22....</td><td>48,976</td><td>43,722</td><td>5,254</td><td>19....</td><td>26,800</td><td>32,184</td><td>-5,384</td><td>21....</td><td>34,063</td><td>25,408</td><td>8,655</td></tr><tr><td>29....</td><td>49,821</td><td>44,675</td><td>5,146</td><td>26....</td><td>34,169</td><td>25,316</td><td>8,853</td><td>28....</td><td>20,902</td><td>24,745</td><td>-3,843</td></tr><tr><td>Feb. 5....</td><td>52,463</td><td>43,821</td><td>8,642</td><td>June 2....</td><td>18,912</td><td>14,271</td><td>4,641</td><td>Oct. 5....</td><td>43,286</td><td>26,139</td><td>17,147</td></tr><tr><td>11....</td><td>52,605</td><td>45,394</td><td>7,211</td><td>9....</td><td>31,995</td><td>26,171</td><td>5,824</td><td>12....</td><td>48,449</td><td>29,888</td><td>18,561</td></tr><tr><td>19....</td><td>77,355</td><td>55,391</td><td>21,964</td><td>16....</td><td>32,783</td><td>26,962</td><td>5,821</td><td>19....</td><td>46,441</td><td>37,402</td><td>9,039</td></tr><tr><td>26....</td><td>67,493</td><td>51,904</td><td>15,589</td><td>23....</td><td>21,651</td><td>28,638</td><td>-6,987</td><td>26....</td><td>45,644</td><td>33,412</td><td>12,232</td></tr><tr><td>Mar. 4....</td><td>46,636</td><td>44,875</td><td>1,761</td><td>July 7....</td><td>16,717</td><td>20,597</td><td>-3,880</td><td>Nov. 2....</td><td>41,470</td><td>33,198</td><td>8,272</td></tr><tr><td>11....</td><td>55,716</td><td>51,901</td><td>3,815</td><td>14....</td><td>41,309</td><td>33,482</td><td>7,827</td><td>9....</td><td>25,338</td><td>23,665</td><td>1,673</td></tr><tr><td>18....</td><td>51,541</td><td>47,661</td><td>3,880</td><td>21....</td><td>34,326</td><td>31,427</td><td>2,899</td><td>16....</td><td>42,393</td><td>37,886</td><td>4,507</td></tr><tr><td>25....</td><td>47,947</td><td>33,473</td><td>14,474</td><td>28....</td><td>48,503</td><td>33,337</td><td>15,166</td><td>23....</td><td>33,318</td><td>31,704</td><td>1,614</td></tr><tr><td>Apr. 1....</td><td>36,986</td><td>33,823</td><td>3,163</td><td>Aug. 4....</td><td>32,886</td><td>25,129</td><td>7,757</td><td>Dec. 7....</td><td>26,323</td><td>19,764</td><td>6,559</td></tr><tr><td>8....</td><td>52,835</td><td>34,793</td><td>18,042</td><td>11....</td><td>41,681</td><td>33,544</td><td>8,137</td><td>14....</td><td>19,917</td><td>28,398</td><td>-8,481</td></tr><tr><td>15....</td><td>33,368</td><td>22,781</td><td>10,587</td><td>18....</td><td>28,433</td><td>27,762</td><td>671</td><td>21....</td><td>36,607</td><td>26,963</td><td>9,644</td></tr><tr><td>22....</td><td>42,935</td><td>31,165</td><td>11,770</td><td>25....</td><td>31,062</td><td>25,222</td><td>5,840</td><td>28....</td><td>22,343</td><td>13,624</td><td>8,719</td></tr><tr><td>29....</td><td>49,814</td><td>40,844</td><td>8,970</td><td>Sept. 1....</td><td>26,590</td><td>25,761</td><td>829</td><td>1939-Jan. 4....</td><td>25,529</td><td>24,960</td><td>569</td></tr><tr><td>May 6....</td><td>36,373</td><td>51,357</td><td>-14,984</td><td>8....</td><td>26,093</td><td>23,110</td><td>2,983</td><td>11....</td><td>30,039</td><td>28,178</td><td>1,861</td></tr><tr><td>13....</td><td>29,848</td><td>22,903</td><td>6,945</td><td>15....</td><td>57,789</td><td>45,416</td><td>12,373</td><td>18....</td><td>21,367</td><td>29,874</td><td>-8,507</td></tr><tr><td>20....</td><td>30,104</td><td>24,947</td><td>5,157</td><td>22....</td><td>37,904</td><td>42,671</td><td>-4,767</td><td>25....</td><td>20,784</td><td>37,180</td><td>-16,396</td></tr><tr><td>27....</td><td>23,085</td><td>22,098</td><td>987</td><td>29....</td><td>38,753</td><td>39,000</td><td>-247</td><td>Feb. 1....</td><td>29,450</td><td>36,458</td><td>-7,008</td></tr><tr><td>June 3....</td><td>25,015</td><td>26,629</td><td>-1,614</td><td>Oct. 6....</td><td>22,337</td><td>24,753</td><td>-2,416</td><td>8....</td><td>28,615</td><td>23,014</td><td>5,601</td></tr><tr><td>10....</td><td>51,407</td><td>29,641</td><td>21,766</td><td>13....</td><td>24,008</td><td>36,652</td><td>-12,644</td><td>15....</td><td>17,529</td><td>15,519</td><td>2,010</td></tr><tr><td>17....</td><td>37,033</td><td>29,333</td><td>7,700</td><td>20....</td><td>37,540</td><td>41,240</td><td>-3,700</td><td>22....</td><td>16,502</td><td>14,868</td><td>1,634</td></tr><tr><td>24....</td><td>36,988</td><td>24,138</td><td>12,850</td><td>27....</td><td>54,514</td><td>44,618</td><td>9,896</td><td>Mar. 1....</td><td>22,205</td><td>20,272</td><td>1,933</td></tr><tr><td>July 1....</td><td>41,305</td><td>32,955</td><td>8,350</td><td>Nov. 3....</td><td>32,346</td><td>24,798</td><td>7,548</td><td>8....</td><td>22,675</td><td>25,232</td><td>-2,557</td></tr><tr><td>8....</td><td>29,419</td><td>24,881</td><td>4,538</td><td>10....</td><td>26,527</td><td>30,716</td><td>-4,189</td><td>15....</td><td>26,725</td><td>27,207</td><td>-482</td></tr><tr><td>15....</td><td>39,413</td><td>32,202</td><td>7,211</td><td>17....</td><td>29,423</td><td>24,081</td><td>5,342</td><td>22....</td><td>24,587</td><td>39,669</td><td>-15,082</td></tr><tr><td>22....</td><td>50,306</td><td>36,865</td><td>13,441</td><td>24....</td><td>26,339</td><td>29,814</td><td>-3,475</td><td>29....</td><td>29,386</td><td>23,209</td><td>6,177</td></tr><tr><td>29....</td><td>51,101</td><td>37,643</td><td>13,458</td><td>Dec. 1....</td><td>26,062</td><td>19,104</td><td>6,958</td><td>Apr. 5....</td><td>36,475</td><td>25,365</td><td>11,110</td></tr><tr><td>Aug. 5....</td><td>44,399</td><td>40,386</td><td>4,013</td><td>8....</td><td>25,512</td><td>19,482</td><td>6,030</td><td>12....</td><td>19,977</td><td>17,962</td><td>2,015</td></tr><tr><td>12....</td><td>43,348</td><td>39,039</td><td>4,309</td><td>15....</td><td>35,481</td><td>26,796</td><td>8,685</td><td>19....</td><td>21,239</td><td>20,677</td><td>562</td></tr><tr><td>19....</td><td>42,280</td><td>30,789</td><td>11,491</td><td>22....</td><td>24,631</td><td>16,525</td><td>8,106</td><td>26....</td><td>19,851</td><td>11,245</td><td>8,606</td></tr><tr><td>26....</td><td>33,308</td><td>24,666</td><td>8,642</td><td>29....</td><td>20,602</td><td>9,888</td><td>10,714</td><td>May 3....</td><td>19,699</td><td>10,723</td><td>8,976</td></tr><tr><td>Sept. 2....</td><td>34,058</td><td>29,016</td><td>5,042</td><td>1938-Jan. 5....</td><td>17,083</td><td>15,195</td><td>1,888</td><td>10....</td><td>13,402</td><td>15,120</td><td>-1,718</td></tr><tr><td>9....</td><td>31,350</td><td>27,039</td><td>4,311</td><td>12....</td><td>22,268</td><td>21,189</td><td>1,079</td><td>17....</td><td>13,630</td><td>12,008</td><td>1,622</td></tr><tr><td>16....</td><td>54,768</td><td>40,859</td><td>13,909</td><td>19....</td><td>24,699</td><td>21,609</td><td>3,090</td><td>24....</td><td>11,579</td><td>14,041</td><td>-2,462</td></tr><tr><td>23....</td><td>45,382</td><td>28,288</td><td>17,094</td><td>26....</td><td>17,822</td><td>17,942</td><td>-120</td><td>31....</td><td>15,115</td><td>15,265</td><td>-150</td></tr><tr><td>30....</td><td>50,193</td><td>48,549</td><td>1,644</td><td>Feb. 2....</td><td>20,255</td><td>18,017</td><td>2,238</td><td>June 7....</td><td>14,902</td><td>13,522</td><td>1,380</td></tr><tr><td>Oct. 7....</td><td>76,926</td><td>44,416</td><td>32,510</td><td>9....</td><td>13,626</td><td>18,587</td><td>-4,961</td><td>14....</td><td>13,136</td><td>15,430</td><td>-2,294</td></tr><tr><td>14....</td><td>83,485</td><td>42,865</td><td>40,620</td><td>16....</td><td>10,704</td><td>15,302</td><td>-4,598</td><td>21....</td><td>13,162</td><td>15,837</td><td>-2,675</td></tr><tr><td>21....</td><td>98,943</td><td>52,783</td><td>46,160</td><td>23....</td><td>11,021</td><td>11,833</td><td>-812</td><td>28....</td><td>10,035</td><td>16,353</td><td>-6,318</td></tr><tr><td>28....</td><td>74,886</td><td>49,312</td><td>25,574</td><td>Mar. 2....</td><td>20,043</td><td>29,772</td><td>-9,729</td><td>July 5....</td><td>13,187</td><td>13,128</td><td>59</td></tr><tr><td>Nov. 4....</td><td>68,723</td><td>36,453</td><td>32,270</td><td>9....</td><td>12,462</td><td>11,806</td><td>656</td><td>12....</td><td>7,832</td><td>12,749</td><td>-4,917</td></tr><tr><td>11....</td><td>113,852</td><td>66,103</td><td>47,749</td><td>16....</td><td>12,986</td><td>15,846</td><td>-2,860</td><td>19....</td><td>15,273</td><td>24,653</td><td>-9,380</td></tr><tr><td>18....</td><td>97,227</td><td>87,676</td><td>9,551</td><td>23....</td><td>18,619</td><td>17,759</td><td>860</td><td>26....</td><td>23,793</td><td>28,866</td><td>-5,073</td></tr><tr><td>25....</td><td>81,621</td><td>70,460</td><td>11,161</td><td>30....</td><td>19,355</td><td>17,704</td><td>1,651</td><td>Aug. 2....</td><td>20,542</td><td>18,308</td><td>2,234</td></tr><tr><td>Dec. 2....</td><td>57,253</td><td>45,903</td><td>11,350</td><td>Apr. 6....</td><td>18,967</td><td>19,058</td><td>-91</td><td>9....</td><td>15,561</td><td>21,304</td><td>-5,743</td></tr><tr><td>9....</td><td>44,111</td><td>53,314</td><td>-9,203</td><td>13....</td><td>14,702</td><td>12,630</td><td>2,072</td><td>16....</td><td>12,867</td><td>24,466</td><td>-11,599</td></tr><tr><td>16....</td><td>63,036</td><td>48,464</td><td>14,572</td><td>20....</td><td>19,312</td><td>12,406</td><td>6,906</td><td>23....</td><td>15,766</td><td>15,513</td><td>253</td></tr><tr><td>23....</td><td>60,936</td><td>44,769</td><td>16,167</td><td>27....</td><td>14,912</td><td>13,401</td><td>1,511</td><td>30....</td><td>20,453</td><td>19,904</td><td>549</td></tr><tr><td>30....</td><td>37,272</td><td>31,650</td><td>5,622</td><td>May 4....</td><td>9,765</td><td>11,085</td><td>-1,320</td><td>Sept. 6....</td><td>19,989</td><td>14,312</td><td>5,677</td></tr><tr><td>1937-Jan. 6....</td><td>38,171</td><td>37,056</td><td>1,115</td><td>11....</td><td>11,852</td><td>14,356</td><td>-2,504</td><td>13....</td><td>52,564</td><td>42,611</td><td>9,953</td></tr><tr><td>13....</td><td>65,591</td><td>56,170</td><td>9,421</td><td>18....</td><td>12,105</td><td>12,553</td><td>-448</td><td>20....</td><td>32,114</td><td>40,019</td><td>-7,905</td></tr><tr><td>20....</td><td>81,012</td><td>60,013</td><td>20,999</td><td>25....</td><td>8,816</td><td>9,291</td><td>-475</td><td>27....</td><td>19,024</td><td>28,016</td><td>-8,992</td></tr><tr><td>27....</td><td>68,904</td><td>59,857</td><td>9,037</td><td>June 1....</td><td>10,405</td><td>9,983</td><td>422</td><td>Oct. 4....</td><td>15,174</td><td>29,373</td><td>-14,199</td></tr><tr><td>Feb. 3....</td><td>65,470</td><td>55,056</td><td>10,414</td><td>8....</td><td>11,682</td><td>12,383</td><td>-701</td><td>11....</td><td>16,594</td><td>22,395</td><td>-5,801</td></tr><tr><td>10....</td><td>98,866</td><td>66,819</td><td>32,047</td><td>15....</td><td>9,021</td><td>11,977</td><td>-2,956</td><td>18....</td><td>16,146</td><td>18,811</td><td>-2,665</td></tr><tr><td>17....</td><td>77,632</td><td>73,754</td><td>3,878</td><td>22....</td><td>11,375</td><td>9,257</td><td>2,118</td><td>25....</td><td>17,269</td><td>28,434</td><td>-11,165</td></tr><tr><td>24....</td><td>74,863</td><td>64,632</td><td>10,231</td><td>29....</td><td>38,260</td><td>37,841</td><td>419</td><td>Nov. 1....</td><td>17,198</td><td>24,066</td><td>-6,868</td></tr><tr><td>Mar. 3....</td><td>74,784</td><td>63,616</td><td>11,168</td><td>July 6....</td><td>38,619</td><td>32,628</td><td>5,991</td><td></td><td></td><td></td><td></td></tr><tr><td>10....</td><td>113,812</td><td>85,119</td><td>28,693</td><td>13....</td><td>38,121</td><td>38,613</td><td>-492</td><td></td><td></td><td></td><td></td></tr><tr><td>17....</td><td>84,365</td><td>74,045</td><td>10,320</td><td>20....</td><td>32,653</td><td>35,895</td><td>-3,242</td><td></td><td></td><td></td><td></td></tr><tr><td>24....</td><td>66,507</td><td>69,074</td><td>-2,567</td><td>27....</td><td>36,049</td><td>43,931</td><td>-7,882</td><td></td><td></td><td></td><td></td></tr><tr><td>31....</td><td>43,680</td><td>30,086</td><td>13,594</td><td>Aug. 3....</td><td>20,541</td><td>27,220</td><td>-6,679</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr. 7....</td><td>58,751</td><td>50,982</td><td>7,769</td><td>10....</td><td>18,739</td><td>24,9
Note: Includes transactions executed in the United States for foreign account, executed abroad for domestic account, and transactions in joint foreign arbitrage accounts as reported by banks, bankers, brokers and dealers in the United States.
FOREIGN PURCHASES AND SALES OF U.S. DOMESTIC SECURITIES
Weekly
40
41
Purchases and Sales of Foreign Exchange, Spot and Forward, as Reported by Banks and Bankers in the United States for October 1939
(In thousands of dollars)
<table><tr><th>Transactions during 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>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></tr><tr><td>Oct. 4 Spot.........</td><td>48,179</td><td>3,311</td><td>166</td><td>599</td><td>4,936</td><td>2,122</td><td>3,161</td><td>62,474</td><td>12,560</td><td>330</td><td>2,505</td><td>340</td><td>75,209</td></tr><tr><td>Oct. 4 Forward.....</td><td>27,216</td><td>201</td><td>-</td><td>72</td><td>3,255</td><td>55</td><td>784</td><td>31,583</td><td>5,076</td><td>12</td><td>3,267</td><td>-</td><td>39,938</td></tr><tr><td>Oct. 11 Spot.........</td><td>42,340</td><td>2,588</td><td>93</td><td>526</td><td>4,340</td><td>1,591</td><td>2,571</td><td>58,049</td><td>14,211</td><td>300</td><td>3,181</td><td>461</td><td>72,202</td></tr><tr><td>Oct. 11 Forward.....</td><td>31,790</td><td>152</td><td>4</td><td>88</td><td>2,835</td><td>161</td><td>1,072</td><td>36,102</td><td>4,071</td><td>-</td><td>2,342</td><td>-</td><td>42,515</td></tr><tr><td>Oct. 18 Spot.........</td><td>29,014</td><td>2,547</td><td>130</td><td>332</td><td>2,866</td><td>1,064</td><td>2,481</td><td>38,434</td><td>9,896</td><td>583</td><td>998</td><td>177</td><td>50,088</td></tr><tr><td>Oct. 18 Forward.....</td><td>23,268</td><td>173</td><td>-</td><td>71</td><td>1,675</td><td>142</td><td>470</td><td>25,799</td><td>2,713</td><td>-</td><td>850</td><td>3</td><td>29,375</td></tr><tr><td>Oct. 25 Spot.........</td><td>32,162</td><td>2,027</td><td>147</td><td>518</td><td>3,187</td><td>1,378</td><td>2,380</td><td>41,799</td><td>9,822</td><td>767</td><td>1,972</td><td>199</td><td>54,559</td></tr><tr><td>Oct. 25 Forward.....</td><td>27,946</td><td>219</td><td>-</td><td>75</td><td>1,118</td><td>151</td><td>475</td><td>29,984</td><td>3,675</td><td>-</td><td>1,459</td><td>13</td><td>35,131</td></tr><tr><td>Nov. 1 Spot.........</td><td>45,754</td><td>2,052</td><td>125</td><td>272</td><td>3,391</td><td>1,898</td><td>2,456</td><td>55,948</td><td>9,302</td><td>597</td><td>2,322</td><td>348</td><td>68,517</td></tr><tr><td>Nov. 1 Forward.....</td><td>32,488</td><td>54</td><td>-</td><td>76</td><td>1,516</td><td>115</td><td>969</td><td>35,218</td><td>4,170</td><td>339</td><td>1,427</td><td>14</td><td>41,168</td></tr><tr><td>Purchases 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></tr><tr><td>Oct. 4 Spot.........</td><td>37,675</td><td>3,004</td><td>56</td><td>434</td><td>4,645</td><td>2,073</td><td>3,030</td><td>50,917</td><td>7,166</td><td>215</td><td>2,181</td><td>41</td><td>60,520</td></tr><tr><td>Oct. 4 Forward.....</td><td>18,724</td><td>171</td><td>-</td><td>61</td><td>2,052</td><td>40</td><td>580</td><td>21,628</td><td>1,833</td><td>-</td><td>3,040</td><td>-</td><td>26,501</td></tr><tr><td>Oct. 11 Spot.........</td><td>35,374</td><td>2,220</td><td>52</td><td>387</td><td>3,721</td><td>1,551</td><td>2,474</td><td>45,779</td><td>8,832</td><td>245</td><td>2,991</td><td>190</td><td>58,037</td></tr><tr><td>Oct. 11 Forward.....</td><td>25,259</td><td>145</td><td>1</td><td>65</td><td>1,551</td><td>119</td><td>1,040</td><td>28,180</td><td>1,631</td><td>-</td><td>1,931</td><td>-</td><td>31,742</td></tr><tr><td>Oct. 18 Spot.........</td><td>23,220</td><td>2,078</td><td>86</td><td>290</td><td>2,767</td><td>1,019</td><td>2,114</td><td>31,574</td><td>6,462</td><td>317</td><td>777</td><td>38</td><td>39,168</td></tr><tr><td>Oct. 18 Forward.....</td><td>14,938</td><td>144</td><td>-</td><td>56</td><td>918</td><td>140</td><td>269</td><td>16,465</td><td>2,166</td><td>-</td><td>570</td><td>-</td><td>19,201</td></tr><tr><td>Oct. 25 Spot.........</td><td>24,540</td><td>1,884</td><td>60</td><td>408</td><td>2,740</td><td>1,337</td><td>2,247</td><td>33,216</td><td>5,830</td><td>506</td><td>1,667</td><td>32</td><td>41,251</td></tr><tr><td>Oct. 25 Forward.....</td><td>20,005</td><td>154</td><td>-</td><td>75</td><td>689</td><td>132</td><td>432</td><td>21,887</td><td>2,715</td><td>-</td><td>1,195</td><td>-</td><td>25,397</td></tr><tr><td>Nov. 1 Spot.........</td><td>35,608</td><td>1,998</td><td>88</td><td>187</td><td>2,885</td><td>1,830</td><td>2,278</td><td>44,874</td><td>6,399</td><td>428</td><td>2,123</td><td>81</td><td>53,905</td></tr><tr><td>Nov. 1 Forward.....</td><td>23,949</td><td>39</td><td>-</td><td>65</td><td>1,152</td><td>57</td><td>810</td><td>26,072</td><td>2,376</td><td>167</td><td>1,108</td><td>-</td><td>29,723</td></tr><tr><td>Purchases 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></tr><tr><td>Oct. 4 Spot.........</td><td>10,504</td><td>307</td><td>110</td><td>165</td><td>291</td><td>49</td><td>131</td><td>11,557</td><td>5,394</td><td>115</td><td>324</td><td>299</td><td>17,689</td></tr><tr><td>Oct. 4 Forward.....</td><td>8,492</td><td>30</td><td>-</td><td>11</td><td>1,203</td><td>15</td><td>204</td><td>9,955</td><td>3,243</td><td>12</td><td>227</td><td>-</td><td>13,437</td></tr><tr><td>Oct. 11 Spot.........</td><td>6,966</td><td>368</td><td>41</td><td>139</td><td>619</td><td>40</td><td>97</td><td>8,270</td><td>5,379</td><td>55</td><td>190</td><td>271</td><td>14,165</td></tr><tr><td>Oct. 11 Forward.....</td><td>6,531</td><td>7</td><td>3</td><td>23</td><td>1,284</td><td>42</td><td>32</td><td>7,922</td><td>2,440</td><td>-</td><td>411</td><td>-</td><td>10,773</td></tr><tr><td>Oct. 18 Spot.........</td><td>5,794</td><td>469</td><td>44</td><td>42</td><td>99</td><td>45</td><td>367</td><td>6,860</td><td>3,434</td><td>266</td><td>221</td><td>139</td><td>10,920</td></tr><tr><td>Oct. 18 Forward.....</td><td>8,330</td><td>29</td><td>-</td><td>15</td><td>757</td><td>2</td><td>201</td><td>9,334</td><td>547</td><td>-</td><td>290</td><td>3</td><td>10,174</td></tr><tr><td>Oct. 25 Spot.........</td><td>7,622</td><td>143</td><td>87</td><td>110</td><td>447</td><td>41</td><td>133</td><td>8,583</td><td>3,992</td><td>261</td><td>305</td><td>167</td><td>13,308</td></tr><tr><td>Oct. 25 Forward.....</td><td>7,941</td><td>65</td><td>-</td><td>-</td><td>429</td><td>19</td><td>43</td><td>8,497</td><td>960</td><td>-</td><td>264</td><td>13</td><td>9,734</td></tr><tr><td>Nov. 1 Spot.........</td><td>10,146</td><td>54</td><td>37</td><td>85</td><td>506</td><td>68</td><td>178</td><td>11,074</td><td>2,903</td><td>169</td><td>199</td><td>267</td><td>14,612</td></tr><tr><td>Nov. 1 Forward.....</td><td>8,539</td><td>15</td><td>-</td><td>11</td><td>364</td><td>58</td><td>159</td><td>9,146</td><td>1,794</td><td>172</td><td>319</td><td>14</td><td>11,445</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></tr><tr><td>Oct. 4 Spot.........</td><td>47,996</td><td>3,267</td><td>134</td><td>506</td><td>4,173</td><td>1,685</td><td>2,822</td><td>60,583</td><td>12,155</td><td>480</td><td>3,656</td><td>203</td><td>77,077</td></tr><tr><td>Oct. 4 Forward.....</td><td>28,698</td><td>494</td><td>1</td><td>39</td><td>4,124</td><td>272</td><td>705</td><td>34,333</td><td>4,759</td><td>15</td><td>2,468</td><td>2</td><td>41,577</td></tr><tr><td>Oct. 11 Spot.........</td><td>39,271</td><td>2,510</td><td>90</td><td>445</td><td>3,366</td><td>1,686</td><td>2,702</td><td>50,070</td><td>14,741</td><td>511</td><td>2,339</td><td>168</td><td>67,829</td></tr><tr><td>Oct. 11 Forward.....</td><td>31,245</td><td>81</td><td>-</td><td>53</td><td>3,493</td><td>173</td><td>1,517</td><td>36,562</td><td>3,787</td><td>3</td><td>2,238</td><td>-</td><td>42,590</td></tr><tr><td>Oct. 18 Spot.........</td><td>30,164</td><td>2,464</td><td>95</td><td>348</td><td>2,627</td><td>917</td><td>2,351</td><td>38,966</td><td>9,523</td><td>493</td><td>1,492</td><td>42</td><td>50,516</td></tr><tr><td>Oct. 18 Forward.....</td><td>23,202</td><td>169</td><td>11</td><td>35</td><td>2,216</td><td>216</td><td>459</td><td>26,308</td><td>3,555</td><td>4</td><td>395</td><td>1</td><td>30,263</td></tr><tr><td>Oct. 25 Spot.........</td><td>34,642</td><td>2,349</td><td>138</td><td>403</td><td>2,155</td><td>1,617</td><td>2,565</td><td>43,869</td><td>9,148</td><td>945</td><td>1,812</td><td>80</td><td>55,854</td></tr><tr><td>Oct. 25 Forward.....</td><td>25,659</td><td>251</td><td>-</td><td>8</td><td>2,372</td><td>230</td><td>415</td><td>28,935</td><td>4,570</td><td>19</td><td>1,578</td><td>-</td><td>35,102</td></tr><tr><td>Nov. 1 Spot.........</td><td>43,302</td><td>1,774</td><td>135</td><td>272</td><td>2,065</td><td>1,814</td><td>2,524</td><td>51,886</td><td>9,415</td><td>611</td><td>2,361</td><td>60</td><td>64,333</td></tr><tr><td>Nov. 1 Forward.....</td><td>33,855</td><td>63</td><td>-</td><td>21</td><td>2,850</td><td>220</td><td>1,066</td><td>38,075</td><td>4,540</td><td>340</td><td>1,611</td><td>-</td><td>44,566</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></tr><tr><td>Oct. 4 Spot.........</td><td>36,869</td><td>2,487</td><td>33</td><td>340</td><td>2,777</td><td>1,287</td><td>1,666</td><td>45,459</td><td>6,652</td><td>123</td><td>1,776</td><td>11</td><td>54,021</td></tr><tr><td>Oct. 4 Forward.....</td><td>14,348</td><td>359</td><td>1</td><td>37</td><td>2,609</td><td>230</td><td>600</td><td>18,184</td><td>2,528</td><td>13</td><td>1,078</td><td>-</td><td>21,803</td></tr><tr><td>Oct. 11 Spot.........</td><td>32,430</td><td>1,667</td><td>18</td><td>265</td><td>2,544</td><td>983</td><td>1,926</td><td>39,833</td><td>8,992</td><td>154</td><td>654</td><td>61</td><td>49,694</td></tr><tr><td>Oct. 11 Forward.....</td><td>19,344</td><td>41</td><td>-</td><td>38</td><td>2,413</td><td>172</td><td>1,236</td><td>23,244</td><td>3,040</td><td>3</td><td>974</td><td>-</td><td>27,261</td></tr><tr><td>Oct. 18 Spot.........</td><td>22,660</td><td>1,778</td><td>21</td><td>177</td><td>1,693</td><td>637</td><td>1,545</td><td>28,511</td><td>5,697</td><td>282</td><td>255</td><td>9</td><td>34,754</td></tr><tr><td>Oct. 18 Forward.....</td><td>14,017</td><td>124</td><td>-</td><td>19</td><td>1,522</td><td>216</td><td>457</td><td>16,355</td><td>1,496</td><td>-</td><td>130</td><td>1</td><td>17,982</td></tr><tr><td>Oct. 25 Spot.........</td><td>27,509</td><td>1,230</td><td>22</td><td>236</td><td>1,684</td><td>1,267</td><td>1,475</td><td>33,423</td><td>5,173</td><td>359</td><td>482</td><td>38</td><td>39,475</td></tr><tr><td>Oct. 25 Forward.....</td><td>16,927</td><td>197</td><td>-</td><td>-</td><td>1,675</td><td>148</td><td>389</td><td>19,336</td><td>2,622</td><td>19</td><td>1,137</td><td>-</td><td>23,114</td></tr><tr><td>Nov. 1 Spot.........</td><td>33,598</td><td>1,026</td><td>30</td><td>131</td><td>1,507</td><td>1,410</td><td>1,587</td><td>39,289</td><td>4,571</td><td>303</td><td>1,002</td><td>29</td><td>45,194</td></tr><tr><td>Nov. 1 Forward.....</td><td>22,548</td><td>22</td><td>-</td><td>10</td><td>1,737</td><td>200</td><td>963</td><td>25,480</td><td>2,133</td><td>340</td><td>906</td><td>-</td><td>28,859</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></tr><tr><td>Oct. 4 Spot.........</td><td>11,127</td><td>780</td><td>101</td><td>166</td><td>1,396</td><td>398</td><td>1,156</td><td>15,124</td><td>5,503</td><td>357</td><td>1,880</td><td>192</td><td>23,056</td></tr><tr><td>Oct. 4 Forward.....</td><td>14,350</td><td>135</td><td>-</td><td>2</td><td>1,515</td><td>42</td><td>105</td><td>16,149</td><td>2,231</td><td>2</td><td>1,390</td><td>2</td><td>19,774</td></tr><tr><td>Oct. 11 Spot.........</td><td>6,841</td><td>843</td><td>72</td><td>180</td><td>822</td><td>703</td><td>776</td><td>10,237</td><td>5,749</td><td>357</td><td>1,685</td><td>107</td><td>18,135</td></tr><tr><td>Oct. 11 Forward.....</td><td>11,901</td><td>40</td><td>-</td><td>15</td><td>1,080</td><td>1</td><td>281</td><td>13,518</td><td>747</td><td>-</td><td>1,264</td><td>-</td><td>15,329</td></tr><tr><td>Oct. 18 Spot.........</td><td>7,504</td><td>686</td><td>74</td><td>171</td><td>934</td><td>280</td><td>806</td><td>10,455</td><td>3,826</td><td>211</td><td>1,237</td><td>33</td><td>15,752</td></tr><tr><td>Oct. 18 Forward.....</td><td>9,185</td><td>45</td><td>11</td><td>16</td><td>694</td><td>-</td><td>2</td><td>9,953</td><td>2,059</td><td>4</td><td>265</td><td>-</td><td>12,281</td></tr><tr><td>Oct. 25 Spot.........</td><td>7,133</td><td>1,119</td><td>116</td><td>167</td><td>471</td><td>350</td><td>1,090</td><td>10,446</td><td>3,975</td><td>586</td><td>1,330</td><td>42</td><td>16,379</td></tr><tr><td>Oct. 25 Forward.....</td><td>8,732</td><td>54</td><td>-</td><td>8</td><td>697</td><td>82</td><td>26</td><td>9,599</td><td>1,948</td><td>-</td><td>441</td><td>-</td><td>11,988</td></tr><tr><td>Nov. 1 Spot.........</td><td>9,704</td><td>748</td><td>105</td><td>141</td><td>558</td><td>404</td><td>937</td><td>12,597</td><td>4,844</td><td>308</td><td>1,359</td><td>31</td><td>19,139</td></tr><tr><td>Nov. 1 Forward.....</td><td>11,307</td><td>41</td><td>-</td><td>11</td><td>1,113</td><
42
Outstanding Forward Exchange Contracts as Reported by Banks and Bankers in the United States during October 1939
(In thousands of dollars)
<table><tr><th>Contracts as of following dates</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>Oct. 4.</td><td>291,175</td><td>1,948</td><td>-</td><td>192</td><td>18,966</td><td>2,048</td><td>7,328</td><td>321,657</td><td>98,562</td><td>1,475</td><td>20,702</td><td>734</td><td>443,130</td></tr><tr><td>Oct. 11.</td><td>295,728</td><td>1,965</td><td>-</td><td>184</td><td>19,418</td><td>2,028</td><td>8,011</td><td>327,334</td><td>93,158</td><td>1,474</td><td>21,497</td><td>80</td><td>443,543</td></tr><tr><td>Oct. 18.</td><td>291,071</td><td>1,950</td><td>-</td><td>183</td><td>20,467</td><td>2,069</td><td>8,385</td><td>324,125</td><td>90,788</td><td>1,474</td><td>20,250</td><td>83</td><td>436,720</td></tr><tr><td>Oct. 25.</td><td>279,971</td><td>2,052</td><td>-</td><td>198</td><td>20,558</td><td>2,043</td><td>8,117</td><td>312,939</td><td>85,047</td><td>1,150</td><td>19,922</td><td>95</td><td>419,153</td></tr><tr><td>Nov. 1.</td><td>270,079</td><td>1,990</td><td>-</td><td>209</td><td>19,890</td><td>1,776</td><td>7,345</td><td>300,889</td><td>80,602</td><td>1,536</td><td>17,668</td><td>95</td><td>400,790</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>Oct. 4.</td><td>78,825</td><td>216</td><td>-</td><td>10</td><td>5,518</td><td>433</td><td>2,108</td><td>87,110</td><td>6,833</td><td>896</td><td>7,781</td><td>12</td><td>102,632</td></tr><tr><td>Oct. 11.</td><td>80,191</td><td>278</td><td>-</td><td>11</td><td>5,339</td><td>385</td><td>2,008</td><td>88,212</td><td>6,129</td><td>896</td><td>9,140</td><td>-</td><td>104,377</td></tr><tr><td>Oct. 18.</td><td>76,023</td><td>227</td><td>-</td><td>11</td><td>5,855</td><td>447</td><td>2,051</td><td>84,614</td><td>6,921</td><td>896</td><td>8,589</td><td>-</td><td>101,020</td></tr><tr><td>Oct. 25.</td><td>71,083</td><td>216</td><td>-</td><td>11</td><td>6,201</td><td>447</td><td>1,936</td><td>79,894</td><td>7,522</td><td>821</td><td>6,713</td><td>-</td><td>94,950</td></tr><tr><td>Nov. 1.</td><td>70,334</td><td>160</td><td>-</td><td>12</td><td>5,120</td><td>386</td><td>1,467</td><td>77,479</td><td>8,286</td><td>1,044</td><td>7,175</td><td>-</td><td>93,984</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>Oct. 4.</td><td>212,350</td><td>1,732</td><td>-</td><td>182</td><td>13,448</td><td>1,615</td><td>5,220</td><td>234,547</td><td>91,729</td><td>579</td><td>12,921</td><td>722</td><td>340,498</td></tr><tr><td>Oct. 11.</td><td>215,537</td><td>1,687</td><td>-</td><td>173</td><td>14,079</td><td>1,543</td><td>6,003</td><td>239,122</td><td>87,029</td><td>578</td><td>12,357</td><td>80</td><td>339,166</td></tr><tr><td>Oct. 18.</td><td>215,048</td><td>1,723</td><td>-</td><td>172</td><td>14,612</td><td>1,622</td><td>6,334</td><td>239,511</td><td>83,867</td><td>578</td><td>11,661</td><td>83</td><td>335,700</td></tr><tr><td>Oct. 25.</td><td>208,888</td><td>1,836</td><td>-</td><td>187</td><td>14,357</td><td>1,596</td><td>6,181</td><td>233,045</td><td>77,525</td><td>329</td><td>13,209</td><td>95</td><td>324,203</td></tr><tr><td>Nov. 1.</td><td>199,745</td><td>1,430</td><td>-</td><td>197</td><td>14,770</td><td>1,390</td><td>5,878</td><td>223,410</td><td>72,316</td><td>492</td><td>10,493</td><td>95</td><td>306,806</td></tr><tr><td>TOTAL SALES 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>Oct. 4.</td><td>326,009</td><td>3,945</td><td>20</td><td>269</td><td>24,261</td><td>3,188</td><td>8,858</td><td>366,550</td><td>103,943</td><td>2,383</td><td>20,026</td><td>727</td><td>493,629</td></tr><tr><td>Oct. 11.</td><td>332,860</td><td>3,600</td><td>20</td><td>455</td><td>23,755</td><td>3,040</td><td>9,870</td><td>373,600</td><td>98,669</td><td>2,382</td><td>20,230</td><td>60</td><td>494,941</td></tr><tr><td>Oct. 18.</td><td>326,358</td><td>3,466</td><td>31</td><td>272</td><td>25,405</td><td>3,159</td><td>10,278</td><td>368,969</td><td>94,284</td><td>2,383</td><td>18,358</td><td>60</td><td>484,064</td></tr><tr><td>Oct. 25.</td><td>312,916</td><td>3,523</td><td>18</td><td>278</td><td>25,717</td><td>3,259</td><td>9,684</td><td>355,385</td><td>89,973</td><td>2,065</td><td>18,332</td><td>60</td><td>465,815</td></tr><tr><td>Nov. 1.</td><td>300,732</td><td>2,809</td><td>3</td><td>281</td><td>25,185</td><td>3,150</td><td>9,035</td><td>341,195</td><td>84,757</td><td>2,441</td><td>16,975</td><td>60</td><td>445,428</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>Oct. 4.</td><td>93,816</td><td>2,552</td><td>7</td><td>36</td><td>9,943</td><td>1,887</td><td>5,995</td><td>114,236</td><td>36,984</td><td>2,148</td><td>6,025</td><td>170</td><td>159,563</td></tr><tr><td>Oct. 11.</td><td>92,125</td><td>2,189</td><td>7</td><td>20</td><td>9,152</td><td>1,704</td><td>6,076</td><td>111,273</td><td>37,745</td><td>2,151</td><td>6,237</td><td>51</td><td>157,457</td></tr><tr><td>Oct. 18.</td><td>88,509</td><td>2,031</td><td>7</td><td>20</td><td>10,191</td><td>1,730</td><td>6,358</td><td>108,846</td><td>34,596</td><td>2,148</td><td>5,776</td><td>51</td><td>151,417</td></tr><tr><td>Oct. 25.</td><td>82,667</td><td>1,933</td><td>7</td><td>7</td><td>10,668</td><td>1,776</td><td>5,663</td><td>102,721</td><td>33,383</td><td>1,830</td><td>5,574</td><td>51</td><td>143,559</td></tr><tr><td>Nov. 1.</td><td>81,351</td><td>1,624</td><td>3</td><td>6</td><td>9,952</td><td>1,769</td><td>6,038</td><td>100,743</td><td>31,484</td><td>2,224</td><td>5,053</td><td>51</td><td>139,555</td></tr><tr><td>Contracts for sale 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>Oct. 4.</td><td>232,193</td><td>1,393</td><td>13</td><td>233</td><td>14,318</td><td>1,301</td><td>2,853</td><td>252,314</td><td>66,959</td><td>235</td><td>14,001</td><td>557</td><td>334,066</td></tr><tr><td>Oct. 11.</td><td>240,735</td><td>1,411</td><td>13</td><td>435</td><td>14,603</td><td>1,336</td><td>3,794</td><td>262,327</td><td>60,924</td><td>231</td><td>13,993</td><td>9</td><td>337,484</td></tr><tr><td>Oct. 18.</td><td>237,849</td><td>1,435</td><td>24</td><td>252</td><td>15,214</td><td>1,429</td><td>3,920</td><td>260,123</td><td>59,688</td><td>235</td><td>12,592</td><td>9</td><td>332,647</td></tr><tr><td>Oct. 25.</td><td>230,249</td><td>1,580</td><td>11</td><td>271</td><td>15,049</td><td>1,483</td><td>4,021</td><td>252,664</td><td>56,590</td><td>235</td><td>12,758</td><td>9</td><td>322,256</td></tr><tr><td>Nov. 1.</td><td>219,381</td><td>1,185</td><td>-</td><td>275</td><td>15,233</td><td>1,381</td><td>2,997</td><td>240,452</td><td>53,273</td><td>217</td><td>11,922</td><td>9</td><td>305,873</td></tr></table>
Net Position in Foreign Currencies of Reporting Banks and Bankers in the United States for October 1939
(Minus indicates short position: In thousands of dollars)
<table><tr><th rowspan="2">Position as of following dates</th><th colspan="12">Currency of-</th></tr><tr><th>United Kingdom</th><th>France</th><th>Germany</th><th>Italy</th><th>Nother-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>Oct. 5</td><td>-9,730</td><td>-1,450</td><td>-170</td><td>-804</td><td>-3,440</td><td>-631</td><td>-1,527</td><td>-17,752</td><td>2,290</td><td>-112</td><td>-4,793</td><td>-133</td><td>-20,500</td></tr><tr><td>Oct. 11</td><td>-5,608</td><td>-1,041</td><td>-149</td><td>-736</td><td>-3,124</td><td>-741</td><td>-1,961</td><td>-13,360</td><td>1,924</td><td>-331</td><td>-3,815</td><td>-53</td><td>-15,635</td></tr><tr><td>Oct. 18</td><td>-6,615</td><td>-954</td><td>-133</td><td>-764</td><td>-3,370</td><td>-671</td><td>-1,820</td><td>-14,327</td><td>1,382</td><td>-262</td><td>-3,877</td><td>-58</td><td>-17,142</td></tr><tr><td>Oct. 25</td><td>-6,636</td><td>-1,320</td><td>-122</td><td>-677</td><td>-3,582</td><td>-987</td><td>-1,940</td><td>-15,264</td><td>1,233</td><td>-223</td><td>-4,137</td><td>-49</td><td>-18,440</td></tr><tr><td>Nov. 1</td><td>-5,231</td><td>-1,042</td><td>-127</td><td>-678</td><td>-3,590</td><td>-1,024</td><td>-2,119</td><td>-13,811</td><td>785</td><td>-241</td><td>-4,363</td><td>-19</td><td>-17,049</td></tr></table>
OTHER MONETARY STATISTICS
— 43 —
44
Gold Assets and Liabilities of the Treasury
(in millions of dollars - on 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 Certificates 1/</th><th>Cold 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</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</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1938-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><tr><td>Apr.</td><td>15,790.6</td><td>13,176.0</td><td>156.0</td><td>1,800.0</td><td>658.4</td></tr><tr><td>May.</td><td>15,956.4</td><td>13,398.8</td><td>156.0</td><td>1,800.0</td><td>601.6</td></tr><tr><td>June.</td><td>16,110.0</td><td>13,595.6</td><td>156.0</td><td>1,800.0</td><td>558.3</td></tr><tr><td>July</td><td>16,237.5</td><td>13,949.8</td><td>156.0</td><td>1,800.0</td><td>331.7</td></tr><tr><td>Aug.</td><td>16,645.1</td><td>14,391.9</td><td>156.0</td><td>1,800.0</td><td>297.1</td></tr><tr><td>Sept.</td><td>16,931.5</td><td>14,749.7</td><td>156.0</td><td>1,800.0</td><td>225.7</td></tr><tr><td>Oct.</td><td>17,091.1</td><td>14,908.4</td><td>156.0</td><td>1,800.0</td><td>226.7</td></tr><tr><td>Nov.</td><td>17,358.3</td><td>15,045.9</td><td>156.0</td><td>1,800.0</td><td>356.4</td></tr><tr><td>Dec.</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr></table>
1/ In Federal Reserve Banks, etc., gold certificate fund Board of Governors, Federal Reserve System, and Redemption fund, Federal Reserve notes.
2/ Reserve against $346,681,016 United States notes and $1,167,122 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 or dollars at $35 per fine ounce - as reported by U. S. Department of Commerce)
<table><tr><th>Calendar year or month</th><th>United Kingdom</th><th>France</th><th>Mother-lands</th><th>Switzer-land</th><th>Canada</th><th>Mexico</th><th>Japan</th><th>Bel-gium</th><th>British India</th><th>Aus-tralie</th><th>Philip-pine Ielande</th><th>Co-lombie</th><th>Chile</th><th>Peru</th><th>China 1/</th><th>All other</th><th>Total net import or net ex-ports (-)</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>1939</td><td>1,826.4</td><td>3.6</td><td>341.5</td><td>86.9</td><td>613.0</td><td>33.7</td><td>165.4</td><td>165.2</td><td>53.0</td><td>74.3</td><td>35.5</td><td>23.1</td><td>10.3</td><td>5.3</td><td>26.3</td><td>110.3</td><td>3,573.8</td></tr><tr><td>1938-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>1.4</td><td>365.4</td></tr><tr><td>Apr.</td><td>384.9</td><td>-</td><td>44.6</td><td>55.7</td><td>7.7</td><td>1.6</td><td>5.5</td><td>84.6</td><td>4.9</td><td>4.8</td><td>2.2</td><td>2.1</td><td>.5</td><td>.3</td><td>.3</td><td>6.1</td><td>605.8</td></tr><tr><td>May.</td><td>302.7</td><td>-</td><td>40.4</td><td>2.3</td><td>12.1</td><td>2.1</td><td>10.9</td><td>41.7</td><td>3.4</td><td>5.3</td><td>2.6</td><td>2.1</td><td>.7</td><td>.3</td><td>1.3</td><td>1.5</td><td>429.4</td></tr><tr><td>June.</td><td>128.2</td><td>-</td><td>55.1</td><td>5.6</td><td>17.2</td><td>3.3</td><td>14.1</td><td>-</td><td>2.2</td><td>5.7</td><td>3.8</td><td>2.1</td><td>.8</td><td>.4</td><td>.6</td><td>1.3</td><td>240.4</td></tr><tr><td>July.</td><td>177.8</td><td>-</td><td>45.6</td><td>5.6</td><td>15.2</td><td>4.2</td><td>10.9</td><td>-</td><td>2.8</td><td>5.0</td><td>3.0</td><td>2.1</td><td>1.1</td><td>.2</td><td>1.2</td><td>3.9</td><td>278.6</td></tr><tr><td>Aug.</td><td>163.7</td><td>-</td><td>22.6</td><td>-</td><td>34.3</td><td>4.0</td><td>10.9</td><td>-</td><td>9.3</td><td>5.7</td><td>2.8</td><td>2.1</td><td>.9</td><td>.3</td><td>1.9</td><td>1.4</td><td>259.9</td></tr><tr><td>Sept.</td><td>162.4</td><td>-</td><td>-</td><td>1.5</td><td>120.8</td><td>.7</td><td>16.4</td><td>-</td><td>4.1</td><td>5.5</td><td>3.9</td><td>2.1</td><td>.8</td><td>1.4</td><td>5.2</td><td>1.3</td><td>326.1</td></tr><tr><td>Oct.</td><td>10.2</td><td>-</td><td>3.0</td><td>-</td><td>9.9</td><td>1.8</td><td>12.5</td><td>-</td><td>2.7</td><td>8.4</td><td>3.2</td><td>-</td><td>1.0</td><td>.8</td><td>4.1</td><td>12.1</td><td>69.7</td></tr><tr><td>Nov.</td><td>18.6</td><td>-</td><td>8.8</td><td>3.0</td><td>65.1</td><td>3.4</td><td>9.5</td><td>-</td><td>12.1</td><td>12.5</td><td>2.6</td><td>2.1</td><td>.7</td><td>.2</td><td>2.7</td><td>26.7</td><td>168.0</td></tr><tr><td>Dec.</td><td>10.4</td><td>-</td><td>31.3</td><td>5.1</td><td>308.8</td><td>4.0</td><td>20.1</td><td>-</td><td>7.6</td><td>6.5</td><td>2.6</td><td>2.1</td><td>1.2</td><td>.4</td><td>3.0</td><td>47.8</td><td>450.9</td></tr></table>
1/ Including Hong Kong.
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 exporta-tion (-) 1/</th><th>Miscel-laneous- 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><tr><td>Apr.-June.........</td><td>43.69</td><td>804.96</td><td>3.11</td><td>851.76</td></tr><tr><td>July-Sept.........</td><td>52.34</td><td>765.95</td><td>3.24</td><td>821.53</td></tr><tr><td>Oct.-Dec.........</td><td>51.62</td><td>657.47</td><td>2.84</td><td>711.93</td></tr></table>
Monetary Stocks of Gold and Silver
(In millions of dollars - on basis, 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 and 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</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.0</td><td>3,595.3</td><td>18.2</td></tr><tr><td>1938-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>3,477.9</td><td>18.6</td></tr><tr><td>Apr.</td><td>15,790.6</td><td>3,518.0</td><td>18.2</td></tr><tr><td>May.</td><td>15,956.7</td><td>3,555.8</td><td>18.2</td></tr><tr><td>June.</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>July.</td><td>16,238.0</td><td>3,649.1</td><td>18.3</td></tr><tr><td>Aug.</td><td>16,645.7</td><td>3,682.4</td><td>18.1</td></tr><tr><td>Sept.</td><td>16,931.5</td><td>3,709.8</td><td>18.0</td></tr><tr><td>Oct.</td><td>17,091.4</td><td>3,733.7</td><td>17.9</td></tr><tr><td>Nov.</td><td>17,358.5</td><td>3,762.0</td><td>17.8</td></tr><tr><td>Dec.</td><td>17,643.4</td><td>3,779.5</td><td>17.6</td></tr></table>
1/ Includes gold released from earmark or gold placed under earmark.
2/ Domestic coin, secondary gold, etc.
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
45
46
Components of Silver Monetary Stock
(In millions of dollars - on basis of daily Treasury statements, revised)
<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>Securing silver certificates 1/ Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recoinage 2/</th><th>Bullion at cost</th><th>Silver dollars 1/ Subsidiary 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</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>1938-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>561.1</td><td>44.4</td><td>372.0</td><td>3,477.9</td></tr><tr><td>Apr.</td><td>1,199.2</td><td>502.6</td><td>3.6</td><td>.7</td><td>569.6</td><td>44.5</td><td>372.6</td><td>3,518.0</td></tr><tr><td>May.</td><td>1,212.2</td><td>502.5</td><td>3.7</td><td>.4</td><td>577.2</td><td>44.6</td><td>373.6</td><td>3,555.8</td></tr><tr><td>June.</td><td>1,230.6</td><td>502.2</td><td>3.8</td><td>.3</td><td>585.8</td><td>44.9</td><td>376.2</td><td>3,605.2</td></tr><tr><td>July.</td><td>1,246.9</td><td>501.8</td><td>3.3</td><td>.2</td><td>593.8</td><td>45.3</td><td>377.8</td><td>3,649.1</td></tr><tr><td>Aug.</td><td>1,257.2</td><td>501.3</td><td>2.9</td><td>-</td><td>600.6</td><td>45.8</td><td>379.8</td><td>3,682.4</td></tr><tr><td>Sept.</td><td>1,266.7</td><td>500.9</td><td>3.7</td><td>-</td><td>605.0</td><td>46.2</td><td>382.8</td><td>3,709.8</td></tr><tr><td>Oct.</td><td>1,277.8</td><td>500.7</td><td>4.8</td><td>.1</td><td>608.1</td><td>46.4</td><td>384.8</td><td>3,733.7</td></tr><tr><td>Nov.</td><td>1,287.6</td><td>500.1</td><td>4.9</td><td>.1</td><td>612.4</td><td>46.9</td><td>389.5</td><td>3,762.0</td></tr><tr><td>Dec.*</td><td>1,298.2</td><td>499.1</td><td>5.6</td><td>-</td><td>615.3</td><td>46.9</td><td>389.5</td><td>3,779.5</td></tr></table>
1/ Valued at $1.29+ per ounce. 2/ Valued at $1.35+ per ounce. *Preliminary.
Silver of Specified Classifications Acquired by Mints and Assay Offices
(In millions)
<table><tr><th>Calendar year or month</th><th colspan="2">Newly mined domestic 1/</th><th colspan="2">National- ized 2/</th><th colspan="2">Foreign 3/</th><th colspan="2">Total</th></tr><tr><th></th><th>Own- ces</th><th>Dol- lars</th><th>Own- ces</th><th>Dol- lars</th><th>Own- ces</th><th>Dol- lars</th><th>Own- ces</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>1939</td><td>60.7</td><td>39.9</td><td>-</td><td>-</td><td>282.8</td><td>120.5</td><td>343.3</td><td>160.4</td></tr><tr><td>1938-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><tr><td>Apr.</td><td>4.9</td><td>3.2</td><td>-</td><td>-</td><td>26.1</td><td>11.2</td><td>31.0</td><td>14.4</td></tr><tr><td>May.</td><td>4.7</td><td>3.0</td><td>-</td><td>-</td><td>24.7</td><td>10.6</td><td>29.3</td><td>13.6</td></tr><tr><td>June.</td><td>5.8</td><td>3.7</td><td>-</td><td>-</td><td>32.2</td><td>13.8</td><td>38.0</td><td>17.5</td></tr><tr><td>July.</td><td>5.4</td><td>3.4</td><td>-</td><td>-</td><td>28.6</td><td>12.0</td><td>33.9</td><td>15.4</td></tr><tr><td>Aug.</td><td>3.1</td><td>2.0</td><td>-</td><td>-</td><td>22.8</td><td>9.7</td><td>25.9</td><td>11.7</td></tr><tr><td>Sept.</td><td>3.0</td><td>2.0</td><td>-</td><td>-</td><td>17.8</td><td>7.7</td><td>20.8</td><td>9.7</td></tr><tr><td>Oct.</td><td>7.2</td><td>4.8</td><td>-</td><td>-</td><td>11.4</td><td>4.9</td><td>18.6</td><td>9.7</td></tr><tr><td>Nov.</td><td>6.5</td><td>4.5</td><td>-</td><td>-</td><td>15.3</td><td>6.3</td><td>21.8</td><td>10.8</td></tr><tr><td>Dec.</td><td>5.1</td><td>3.6</td><td>-</td><td>-</td><td>16.8</td><td>6.8</td><td>21.9</td><td>10.4</td></tr></table>
1/ Acquired at 64.64* 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; at 64.64* cents per fine ounce from December 31, 1937 to July 1, 1939; and at 71.11* cents since July 1, 1939.
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 52 cents per ounce.
Silver Production, by Leading Countries
(In thousands of fine ounces) 1/
<table><tr><th>Calendar year or month</th><th>United States</th><th>Canada 2/</th><th>Mexico</th><th>Peru</th><th>Other America</th><th>Europe</th><th>Oceania</th><th>Japan 3/</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>11,670</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 1/</td><td>3,535</td><td>4,783</td><td>258,429</td></tr><tr><td>1938-Nov. Dec.</td><td>2,679 4,624</td><td>2,023 1,552</td><td>2,781 4,922</td><td>1,750 1,850</td><td>1,500 1,500</td><td>1,800 1,800</td><td>1,327 1,160</td><td>875* 875*</td><td>480 485</td><td>350 350</td><td>394 393</td><td>16,159 19,511</td></tr><tr><td>1939-Jan. Feb. Mar.</td><td>4,669 5,268 5,067</td><td>1,575 1,454 1,637</td><td>4,281 6,794 4,906</td><td>1,825 1,700 1,650</td><td>1,500 1,500 1,500</td><td>1,800 1,800 1,800</td><td>1,324 1,169 1,242</td><td>875* 875* 875*</td><td>485 485 585</td><td>370 400 400</td><td>404 377 408</td><td>19,108 21,822 20,070</td></tr><tr><td>Apr. May. June.</td><td>5,336 3,701 5,493</td><td>1,411 1,559 1,766</td><td>2,515 4,586 10,274</td><td>1,500 1,475 1,550</td><td>1,450 1,500 1,550</td><td>1,780 1,800 1,850</td><td>1,225 1,277 1,329</td><td>875* 875* 875*</td><td>585 585 585</td><td>380 400 380</td><td>412 439 470</td><td>17,469 18,197 26,122</td></tr><tr><td>July. Aug. Sept.</td><td>3,200 4,226 5,145</td><td>2,099 2,703 2,679</td><td>8,004 6,971 6,857</td><td>1,569 1,600 1,670</td><td>1,650 1,675 1,700</td><td>1,850 1,900 1,900</td><td>1,312 1,220 1,443</td><td>875* 875* 875*</td><td>485 480 475</td><td>380 400 425</td><td>454 472 465</td><td>21,878 22,522 23,634</td></tr><tr><td>Oct. Nov.</td><td>4,874 5,113</td><td>2,913 1,898</td><td>7,931 5/</td><td>1,450 1,400</td><td>1,700 1,700</td><td>1,900 1,900</td><td>1,475 5/</td><td>875* 875*</td><td>470 5/</td><td>450 500</td><td>475 480</td><td>24,513 5/</td></tr></table>
1/ 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.
2/ Includes Newfoundland.
3/ Includes Chosen and Taiwan.
4/ Burma, refined silver.
5/ Not yet reported.
* No longer reported. Estimated at about previous rate.
47
Net Movement of Silver to and from the United States
(In thousands of dollars - as reported by U. S. Department of Commerce)
<table><tr><th>Calendar 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>12,147</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>1939</td><td>12,381</td><td>-656</td><td>7,078</td><td>31,597</td><td>-4,787</td><td>851</td><td>6,513</td><td>3,178</td></tr><tr><td>1938-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>204</td></tr><tr><td>Apr.</td><td>1,104</td><td>19</td><td>263</td><td>3,194</td><td>-1,250</td><td>38</td><td>582</td><td>223</td></tr><tr><td>May.</td><td>1,017</td><td>13</td><td>545</td><td>3,225</td><td>-492</td><td>17</td><td>494</td><td>321</td></tr><tr><td>June.</td><td>3,038</td><td>12</td><td>899</td><td>3,702</td><td>-</td><td>68</td><td>574</td><td>252</td></tr><tr><td>July.</td><td>434</td><td>15</td><td>799</td><td>1,641</td><td>5</td><td>67</td><td>516</td><td>404</td></tr><tr><td>Aug.</td><td>-485</td><td>17</td><td>775</td><td>1,773</td><td>11</td><td>210</td><td>422</td><td>361</td></tr><tr><td>Sept.</td><td>-584</td><td>-93</td><td>786</td><td>2,326</td><td>15</td><td>124</td><td>548</td><td>121</td></tr><tr><td>Oct.</td><td>-1,430</td><td>-97</td><td>503</td><td>2,607</td><td>3</td><td>134</td><td>597</td><td>284</td></tr><tr><td>Nov.</td><td>-135</td><td>-157</td><td>596</td><td>2,382</td><td>7</td><td>-3</td><td>344</td><td>336</td></tr><tr><td>Dec.</td><td>-90</td><td>-409</td><td>508</td><td>2,263</td><td>-</td><td>71</td><td>447</td><td>135</td></tr></table>
<table><tr><th>Calendar 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>179,835</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>1939</td><td>-73</td><td>-</td><td>7,725</td><td>4,234</td><td>1,960</td><td>672</td><td>70,677</td></tr><tr><td>1938-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>1/43</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><tr><td>Apr.</td><td>86</td><td>-</td><td>-</td><td>588</td><td>217</td><td>25</td><td>5,089</td></tr><tr><td>May.</td><td>-</td><td>-</td><td>5,319</td><td>270</td><td>121</td><td>9</td><td>5,540</td></tr><tr><td>June.</td><td>43</td><td>-</td><td>-</td><td>326</td><td>228</td><td>6</td><td>14,467</td></tr><tr><td>July.</td><td>-</td><td>-</td><td>635</td><td>-</td><td>216</td><td>158</td><td>4,891</td></tr><tr><td>Aug.</td><td>-35</td><td>-</td><td>-</td><td>155</td><td>149</td><td>75</td><td>3,428</td></tr><tr><td>Sept.</td><td>-203</td><td>-</td><td>2,404</td><td>161</td><td>55</td><td>89</td><td>3,347</td></tr><tr><td>Oct.</td><td>-</td><td>-</td><td>-</td><td>415</td><td>87</td><td>-11</td><td>5,495</td></tr><tr><td>Nov.</td><td>-</td><td>-</td><td>155</td><td>75</td><td>95</td><td>-</td><td>3,696</td></tr><tr><td>Dec.</td><td>-257</td><td>-</td><td>127</td><td>74</td><td>40</td><td>-</td><td>2,908</td></tr></table>
1/ Less than $500.
2/ Includes net import of $12,950,000 from France
3/ Figures for Nov. 1938 include net imports from France of $4,301,000.
4/ Includes net import of $9,791,000 from Siam.
Signiorage on Silver
(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="5">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>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mined silver (Proc. Dec. 21, 1933)</th><th>Newly-mined silver (Act July 6, 1939)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalised silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>-</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>-</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>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>398.4</td></tr><tr><td>1937</td><td>53.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>543.9</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</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>-</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>-</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>-</td><td>480.3</td><td>34.7</td><td>642.7</td><td>825.1</td></tr><tr><td>Apr.</td><td>71.0</td><td>48.7</td><td>80.1</td><td>-</td><td>486.8</td><td>34.7</td><td>650.3</td><td>844.0</td></tr><tr><td>May</td><td>71.9</td><td>48.7</td><td>81.2</td><td>-</td><td>493.1</td><td>34.7</td><td>657.7</td><td>859.7</td></tr><tr><td>June</td><td>73.4</td><td>48.7</td><td>82.9</td><td>-</td><td>501.6</td><td>34.7</td><td>667.9</td><td>879.0</td></tr><tr><td>July</td><td>74.7</td><td>48.7</td><td>84.3</td><td>-</td><td>509.5</td><td>34.7</td><td>677.2</td><td>897.6</td></tr><tr><td>Aug.</td><td>76.1</td><td>48.7</td><td>85.0</td><td>-</td><td>514.7</td><td>34.7</td><td>683.1</td><td>914.5</td></tr><tr><td>Sept.</td><td>80.1</td><td>48.7</td><td>85.3</td><td>.6</td><td>519.3</td><td>34.7</td><td>688.6</td><td>926.4</td></tr><tr><td>Oct.</td><td>82.9</td><td>48.7</td><td>86.5</td><td>1.5</td><td>523.0</td><td>34.7</td><td>694.4</td><td>933.3</td></tr><tr><td>Nov.</td><td>86.3</td><td>48.7</td><td>87.1</td><td>2.6</td><td>526.6</td><td>34.7</td><td>699.7</td><td>941.7</td></tr><tr><td>Dec.</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</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.
48
Value of Selected Currencies in Terms of Gold
1928 = 100
<table><tr><th>Monthly average of daily quotations</th><th>United States</th><th>United Kingdom</th><th>France</th><th>Nether-lands</th><th>Switzer-land</th><th>Belgium</th><th>Japan</th><th>Italy</th><th>China 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-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><tr><td>Apr.</td><td>59</td><td>57</td><td>40</td><td>78</td><td>69</td><td>72</td><td>32</td><td>59</td><td>21</td></tr><tr><td>May.</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>June.</td><td>59</td><td>57</td><td>40</td><td>78</td><td>69</td><td>72</td><td>32</td><td>59</td><td>18</td></tr><tr><td>July.</td><td>59</td><td>57</td><td>40</td><td>78</td><td>69</td><td>72</td><td>32</td><td>59</td><td>14</td></tr><tr><td>Aug.</td><td>59</td><td>56</td><td>39</td><td>79</td><td>69</td><td>72</td><td>32</td><td>59</td><td>9</td></tr><tr><td>Sept.</td><td>59</td><td>48</td><td>34</td><td>78</td><td>69</td><td>72</td><td>28</td><td>57</td><td>9</td></tr><tr><td>Oct.</td><td>59</td><td>49</td><td>34</td><td>78</td><td>69</td><td>71</td><td>28</td><td>57</td><td>10</td></tr><tr><td>Nov.</td><td>59</td><td>48</td><td>34</td><td>78</td><td>69</td><td>70</td><td>28</td><td>57</td><td>11</td></tr><tr><td>Dec.</td><td>59</td><td>48</td><td>34</td><td>78</td><td>69</td><td>70</td><td>28</td><td>57</td><td>10</td></tr></table>
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-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><tr><td>Apr</td><td>86</td><td>90</td><td>91</td><td>85</td></tr><tr><td>May</td><td>86</td><td>89</td><td>90</td><td>85</td></tr><tr><td>June</td><td>86</td><td>89</td><td>91</td><td>85</td></tr><tr><td>July</td><td>86</td><td>89</td><td>90</td><td>84</td></tr><tr><td>Aug</td><td>85</td><td>88</td><td>89</td><td>83</td></tr><tr><td>Sept</td><td>80</td><td>81</td><td>84</td><td>78</td></tr><tr><td>Oct</td><td>80</td><td>81</td><td>83</td><td>79</td></tr><tr><td>Nov</td><td>80</td><td>80</td><td>83</td><td>78</td></tr><tr><td>Dec. 8</td><td>79</td><td>80</td><td>83</td><td>78</td></tr></table>
Preliminary
Indexes of Prices of 40 Foreign Currencies in New York, London, Paris and Tokyo
1935 = 100
<table><tr><th></th><th colspan="4">Unweighted (1. 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>155</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-Deo</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</td><td>219</td><td>91</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>Mar</td><td>86</td><td>90</td><td>218</td><td>91</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>Apr</td><td>86</td><td>90</td><td>218</td><td>91</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>May</td><td>86</td><td>90</td><td>217</td><td>90</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>June</td><td>86</td><td>90</td><td>218</td><td>90</td><td>85</td><td>89</td><td>225</td><td>91</td></tr><tr><td>July</td><td>86</td><td>89</td><td>216</td><td>90</td><td>84</td><td>88</td><td>222</td><td>90</td></tr><tr><td>Aug</td><td>85</td><td>90</td><td>217</td><td>90</td><td>83</td><td>89</td><td>223</td><td>91</td></tr><tr><td>Sept</td><td>80</td><td>98</td><td>237</td><td>98</td><td>78</td><td>99</td><td>245</td><td>99</td></tr><tr><td>Oct</td><td>80</td><td>98</td><td>236</td><td>97</td><td>79</td><td>100</td><td>248</td><td>100</td></tr><tr><td>Nov</td><td>80</td><td>100</td><td>241</td><td>98</td><td>78</td><td>102</td><td>252</td><td>100</td></tr><tr><td>Dec.*</td><td>79</td><td>99</td><td>239</td><td>97</td><td>78</td><td>101</td><td>252</td><td>99</td></tr></table>
Preliminary.
49
Balance Sheet of the Exchange Stabilization Fund
<table><tr><th></th><th colspan="2">June 30, 1939</th><th colspan="2">September 30, 1939</th></tr><tr><td>ASSETS:</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td><td></td><td></td></tr><tr><td>Treasurer of the U. S., Gold</td><td>$1,800,000,000.00</td><td></td><td>$1,800,000,000.00</td><td></td></tr><tr><td>Treasurer of the U. S., Checking Account</td><td>1,598,137.07</td><td></td><td>1,617,677.95</td><td></td></tr><tr><td>Federal Reserve Bank of New York Special Account</td><td>104,567,674.90</td><td></td><td>25,629,344.51</td><td></td></tr><tr><td>Disbursing Officers' Balances and Advance Accounts</td><td>3,185.31</td><td>$1,906,168,997.28</td><td>16,701.04</td><td>$1,827,263,723.50</td></tr><tr><td>Special Accounts of Sec'y of Treasury - Fed. Res. Bk. of N. Y.:</td><td></td><td></td><td></td><td></td></tr><tr><td>Special Account No. 1 (Gold)</td><td></td><td>84,635,422.59</td><td></td><td>164,281,197.28</td></tr><tr><td>Due from Foreign Banks (Foreign Exchange)</td><td></td><td></td><td></td><td></td></tr><tr><td>France</td><td>81.49</td><td></td><td>45.64</td><td></td></tr><tr><td>Belgas</td><td>2,220.34</td><td></td><td>505.14</td><td></td></tr><tr><td>Sterling</td><td>42,225.04</td><td></td><td>2,992.62</td><td></td></tr><tr><td>Central Bank of China (Secured Deposits)</td><td></td><td></td><td></td><td></td></tr><tr><td>65,229,995.53 Yuan (Gold held as collateral $19,379,015.66)</td><td>19,112,500.00</td><td>19,157,026.87</td><td></td><td></td></tr><tr><td>65,235,351.50 Yuan (Gold held as collateral $19,379,015.66)</td><td>-</td><td>-</td><td>19,181,702.38</td><td>19,185,245.98</td></tr><tr><td>Investments - U. S. Treasury Bonds</td><td></td><td>5,026,562.50</td><td></td><td>5,906,151.26</td></tr><tr><td>Accrued Interest Receivable</td><td></td><td>41,796.88</td><td></td><td>9,948.64</td></tr><tr><td>Other Accounts - Deferred Charges</td><td></td><td>15.00</td><td></td><td>11,786.68</td></tr><tr><td>Commodity Sales Contracts (Deferred Charges)</td><td></td><td>2,636.00</td><td></td><td>2,636.00</td></tr><tr><td>Total Assets</td><td></td><td>$2,015,032,457.12</td><td></td><td>$2,016,560,689.34</td></tr><tr><td>LIABILITIES AND CAPITAL:</td><td></td><td></td><td></td><td></td></tr><tr><td>Capital Account</td><td></td><td>2,000,000,000.00</td><td></td><td>2,000,000,000.00</td></tr><tr><td>Accounts Payable</td><td></td><td></td><td></td><td></td></tr><tr><td>Vouchers Payable</td><td>-</td><td></td><td>12,211.39</td><td></td></tr><tr><td>Due to Foreign Banks</td><td>-</td><td></td><td>320,722.83</td><td>332,934.22</td></tr><tr><td>Earnings - less General Expenses</td><td></td><td>15,032,457.12</td><td></td><td>16,227,755.12</td></tr><tr><td>Total Liabilities and Capital</td><td></td><td>$2,015,032,457.12</td><td></td><td>$2,016,560,689.34</td></tr></table>
See Schedule 1. See Schedule 2. See Schedule 3.
50
Schedules for Balance Sheet of the Exchange Stabilization Fund
Schedule #1
Special Account $1 - Gold
Schedule showing location of Gold held by and for account of the Exchange Stabilisation Fund.
<table><tr><th></th><th colspan="2">June 30, 1939</th><th colspan="2">September 30, 1939</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>Gold held by:</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Bank of England</td><td>84,040.992</td><td>2,941,434.71</td><td>263,145.034</td><td>9,210,076.19</td></tr><tr><td>Federal Reserve Bank of New York</td><td>2,334,113.939</td><td>81,693,987.58</td><td>4,430,718.934</td><td>155,071,121.09</td></tr><tr><td>U. S. Assay Office, New York</td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td>2,418,154.931</td><td>84,635,422.59</td><td>4,693,863.968</td><td>154,281,197.28</td></tr></table>
Schedule #2
Schedule showing total earnings of the Exchange Stabilization Fund from January 31, 1934 to June 30, 1939 and September 30, 1939.
<table><tr><th></th><th>June 30, 1939</th><th>September 30, 1939</th></tr><tr><td>Source:</td><td></td><td></td></tr><tr><td>Profits on British Sterling Transactions</td><td>$316,897.59</td><td>$310,650.66</td></tr><tr><td>Profits on French Franc Transactions</td><td>352,012.49</td><td>351,504.95</td></tr><tr><td>Profits on Gold Bullion</td><td></td><td></td></tr><tr><td>Profits on handling charges on gold</td><td>7,033,105.87</td><td>8,178,950.46</td></tr><tr><td>Profits on Silver Transactions</td><td>105,371.27</td><td>105,371.27</td></tr><tr><td>Profits on sale of Silver Bullion to Treasury (nationalized)</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profits on investments</td><td>619,826.17</td><td>619,826.17</td></tr><tr><td>Interest on investments</td><td>3,029,137.48</td><td>3,065,419.56</td></tr><tr><td>Miscellaneous Profits</td><td>33.30</td><td>472.96</td></tr><tr><td>Interest earned on Foreign Balances</td><td>56,717.37</td><td>56,717.37</td></tr><tr><td>Interest earned on Chinese Yuan</td><td>979,391.65</td><td>1,051,746.93</td></tr><tr><td>Total</td><td>15,965,855.48</td><td>17,214,022.62</td></tr></table>
Investments
Schedule showing Classes of U. S. Treasury Bonds held by the Exchange Stabilization Fund.
<table><tr><th></th><th colspan="4">June 30, 1939</th><th colspan="4">September 30, 1939</th></tr><tr><th></th><th>Face Value</th><th>Principal Cost</th><th>Accrued Interest</th><th>Average rate at which bonds are held</th><th>Face Value</th><th>Principal Cost</th><th>Accrued Interest</th><th>Average rate at which bonds are held</th></tr><tr><td>2-7/8% U. S. Treasury Bonds of 1955-60</td><td>$5,000,000</td><td>$5,026,562.50</td><td>$41,796.88</td><td>100.5313</td><td>$5,330,000</td><td>$5,357,428.13</td><td>$6,314.73</td><td>100.5146</td></tr><tr><td>2-3/4% U. S. Treasury Bonds of 1958-63</td><td>-</td><td>-</td><td>-</td><td>-</td><td>$50,000</td><td>$49,640.63</td><td>$401.98</td><td>99.2813</td></tr><tr><td>2-3/4% U. S. Treasury Bonds of 1960-65</td><td>-</td><td>-</td><td>-</td><td>-</td><td>$402,000</td><td>$399,082.50</td><td>$3,231.93</td><td>99.2743</td></tr><tr><td>Total</td><td>$5,000,000</td><td>$5,026,562.50</td><td>$41,796.88</td><td></td><td>$5,782,000</td><td>$5,806,151.26</td><td>$9,948.64</td><td></td></tr></table>
Schedule #3
Administrative Expenses of the Exchange Stabilization Fund from Jan. 31, 1934 to June 30, 1939 and September 30, 1939
<table><tr><th></th><th>June 30, 1939</th><th>September 30, 1939</th></tr><tr><td>Salaries</td><td>$549,652.68</td><td>$589,840.49</td></tr><tr><td>Travel</td><td>41,222.12</td><td>41,691.46</td></tr><tr><td>Subsistence</td><td>28,817.24</td><td>29,689.90</td></tr><tr><td>Telephone & Telegraph</td><td>220,620.09</td><td>232,988.62</td></tr><tr><td>Stationery, etc.</td><td>12,802.07</td><td>12,820.67</td></tr><tr><td>All other</td><td>80,284.16</td><td>79,236.36</td></tr><tr><td>Total</td><td>$933,398.36</td><td>$986,267.50</td></tr></table>
MISCELLANEOUS
- 51 -
52
Commodities Imported under Quota Provisions During Quota Periods Other than Calendar Years
(Preliminary figures)
<table><tr><th colspan="3">White or Irish potatoes</th><th colspan="2">Red cedar shinglee</th><th colspan="2">Cordage from Philippines</th></tr><tr><th></th><th>Certified seed (pound)</th><th>Other (pound)</th><th></th><th>(square)</th><th></th><th>(pound)</th></tr><tr><td>Established quote</td><td>90,000,000</td><td>60,000,000</td><td>Established quote</td><td>1,051,168</td><td>Established quota</td><td>6,000,000</td></tr><tr><td>Quota period - 12 months from Sept. 15</td><td></td><td></td><td>Quota period - 6 months from Jan. 1</td><td></td><td>Quota period - 12 months from May 1</td><td></td></tr><tr><td>Imports within quota limitation, by months:</td><td></td><td></td><td>Imports within quota limitation, by months:</td><td></td><td>Imports within quota limitation, by months:</td><td></td></tr><tr><td>12 months from Sept. 15, 1938</td><td>59,758,730</td><td>1,284,909</td><td>1939-Jan. 228,166</td><td>335,355</td><td>12 months from May 1, 1938</td><td>5,818,532</td></tr><tr><td>1939-Sept. 15 to 30</td><td>215,000</td><td>2,029</td><td>Feb. 264,911</td><td></td><td>1939-May. 184,207</td><td>220,523</td></tr><tr><td>Oct. 3,195,321</td><td></td><td>285,060</td><td>Mar. 222,736</td><td></td><td>June. 376,646</td><td></td></tr><tr><td>Nov. 33,628,940</td><td>11,629,805</td><td></td><td>Apr. 1/</td><td></td><td>July. 453,217</td><td></td></tr><tr><td>Dec. 400</td><td>335,179</td><td></td><td></td><td></td><td>Aug. 349,149</td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Sept.</td><td>420,029</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Oct.</td><td>405,875</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Nov.</td><td>1,353,722</td></tr><tr><td>1939-1940, by months</td><td></td><td></td><td></td><td></td><td>Dec.</td><td></td></tr></table>
1/ Import quota filled April 14, 1939. The trade agreement with Canada of November 15, 1938, came definitely into full force on June 17, 1939, therefore, the import quota on this commodity ceased to be in effect thereafter.
Commodities Imported under Quota Provisions During Quota Periods Based on Calendar Years
(Preliminary figures)
<table><tr><th></th><th colspan="4">Cattle Weighing -</th><th rowspan="2">Cream fresh or sour (Gallon)</th><th rowspan="2">Whole milk fresh or sour (Gallon)</th><th rowspan="2">Fish,fresh or frozen,filleted etc.- Cod, Had-dock,Hake,Pol-lock, Cusk and Rosefish (Pound)</th><th colspan="3">Products of Philippine Islands</th></tr><tr><th></th><th>Less than 200 pounds (Head)</th><th>700 pounds or more each other than dairy cows Total (Head)</th><th>From Canada (Head)</th><th>From other countries (Head)</th><th>Coconut Oil (Pound)</th><th>Cane Sugar Refined (Pound)</th><th>Cane Sugar Unrefined (Pound)</th></tr><tr><td>Established quota: Calendar year</td><td>100,000</td><td>225,000</td><td>1/</td><td>1/</td><td>1,500,000</td><td>3,000,000</td><td>15,000,000</td><td>448,000,000</td><td>112,000,000</td><td>1,792,000,000</td></tr><tr><td colspan="11">Imports within quota limitation by months:</td></tr><tr><td>1939-Jan.</td><td>5,723</td><td>57,575</td><td>30,574</td><td>27,001</td><td>86</td><td>407</td><td>1,064,901</td><td>26,885,197</td><td>1,198,779</td><td>80,341,856</td></tr><tr><td>Feb.</td><td>9,526</td><td>2,425 2/</td><td>2,337</td><td>88</td><td>14</td><td>398</td><td>1,187,139</td><td>20,354,521</td><td>8,991,734</td><td>139,357,404</td></tr><tr><td>Mar.</td><td>16,646</td><td>-</td><td>-</td><td>-</td><td>133</td><td>498</td><td>998,734</td><td>41,736,498</td><td>5,107,989</td><td>168,683,878</td></tr><tr><td>Apr.</td><td>14,966</td><td>38,940</td><td>30,660</td><td>8,280 3/</td><td>49</td><td>490</td><td>496,642</td><td>22,818,683</td><td>15,999,791</td><td>242,980,098</td></tr><tr><td>May.</td><td>16,282</td><td>20,287</td><td>20,287</td><td>-</td><td>177</td><td>571</td><td>533,540</td><td>40,293,068</td><td>16,789,739</td><td>210,364,560</td></tr><tr><td>June.</td><td>12,886</td><td>24</td><td>24</td><td>-</td><td>150</td><td>551</td><td>675,559</td><td>35,481,502</td><td>21,155,336</td><td>236,059,584</td></tr><tr><td>July.</td><td>13,924</td><td>33,565</td><td>26,476</td><td>7,089</td><td>219</td><td>731</td><td>784,917</td><td>21,186,545</td><td>4,474,482</td><td>240,735,933</td></tr><tr><td>Aug.</td><td>8,090</td><td>17,017</td><td>16,565</td><td>452</td><td>327</td><td>818</td><td>609,089</td><td>34,003,335</td><td>9,035,961</td><td>127,155,680</td></tr><tr><td>Sept.</td><td>1,957 4/</td><td>8,153</td><td>7,867</td><td>286</td><td>158</td><td>863</td><td>1,953,689</td><td>10,972,494</td><td>10,541,661</td><td>133,508,012</td></tr><tr><td>Oct.</td><td>-</td><td>25,779 5/</td><td>19,116</td><td>6,663 6/</td><td>64</td><td>669</td><td>753,962</td><td>17,771,900</td><td>7,354,888</td><td>110,909,166</td></tr><tr><td>Nov.</td><td>-</td><td>14,001</td><td>14,001</td><td>-</td><td>103</td><td>628</td><td>376,158</td><td>34,670,862</td><td>9,228,717</td><td>63,642,443</td></tr><tr><td>Dec.</td><td>-</td><td>2,542</td><td>2,542</td><td>-</td><td>47</td><td>500</td><td>457,197</td><td>25,584,958</td><td>2,050,000</td><td>30,682,096</td></tr></table>
1/ A tariff rate quota of 60,000 head was established for the first quarter of 1939 without any allocation between Canada and other countries. Tariff rate quotas of 60,000 head have been established for the second and third quarters of 1939, allocating 51,720 head to Canada and 8,280 head to other countries.
2/ Tariff rate quota for first quarter filled February 2, 1939.
3/ Tariff rate quota for countries other than Canada for second quarter filled April 13, 1939.
4/ Tariff rate quota for calendar year filled on September 12, 1939.
5/ Based on imports during the first three quarters of the year, the tariff rate quotas for the fourth quarter are as follows: From Canada 40,351 head and from other countries 6,663 head.
6/ Tariff rate quota for countries other than Canada for fourth quarter filled October 2, 1939.
53
Summary of Criminal Cases in the United States District Courts
Alcohol Tax, Customs, Narcotics, Secret Service and Internal Revenue 1/ for the month of Nov. 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>21,653</td><td>2,796</td><td>4,218</td><td>20,231</td><td>-1,422</td></tr><tr><td>Alcohol Tax.</td><td>17,175</td><td>2,136</td><td>3,275</td><td>16,036</td><td>-1,139</td></tr><tr><td>Customs.....</td><td>291</td><td>43</td><td>81</td><td>253</td><td>- 38</td></tr><tr><td>Narcotice...</td><td>2,656</td><td>371</td><td>484</td><td>2,543</td><td>- 113</td></tr><tr><td>Secret Service...</td><td>1,077</td><td>236</td><td>351</td><td>962</td><td>- 115</td></tr><tr><td>Internal Revenue...</td><td>454</td><td>10</td><td>27</td><td>437</td><td>- 17</td></tr></table>
DISPOSITIONS
<table><tr><th rowspan="2">Bureau</th><th rowspan="2">Number cases closed</th><th rowspan="2">Number cases transferred 2/</th><th colspan="4">Percent released</th><th colspan="3">Percent convicted</th></tr><tr><th>Before indict.</th><th>After indict.</th><th>Acquittals</th><th>Total</th><th>Found guilty</th><th>Plead guilty</th><th>Total</th></tr><tr><td>Total......</td><td>4,218</td><td>232</td><td>14%</td><td>7%</td><td>3%</td><td>24%</td><td>8%</td><td>68%</td><td>76%</td></tr><tr><td>Alcohol Tax.</td><td>3,275</td><td>131</td><td>16%</td><td>6%</td><td>3%</td><td>25%</td><td>7%</td><td>68%</td><td>75%</td></tr><tr><td>Customs 3/.</td><td>81</td><td>-</td><td>10%</td><td>44%</td><td>3%</td><td>57%</td><td>4%</td><td>39%</td><td>43%</td></tr><tr><td>Narcotics 3/</td><td>484</td><td>76</td><td>7%</td><td>6%</td><td>2%</td><td>15%</td><td>12%</td><td>73%</td><td>85%</td></tr><tr><td>Secret Service 4/</td><td>351</td><td>25</td><td>4%</td><td>2%</td><td>4%</td><td>10%</td><td>11%</td><td>79%</td><td>90%</td></tr><tr><td>Internal Revenue...</td><td>27</td><td>-</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td></tr></table>
SENTENCES
<table><tr><th>Bureau</th><th>Total conviction</th><th>Percent imprisoned</th><th>Percent probation</th><th>Percent fined</th><th>Average day imprisonment</th><th>Average fine (dollars)</th><th>Total fines (dollars)</th></tr><tr><td>Total</td><td>2,955</td><td>58%</td><td>40%</td><td>31%</td><td>325</td><td>359</td><td>332,491</td></tr><tr><td>Alcohol</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tax &amp; Customs</td><td>2,348</td><td>57%</td><td>39%</td><td>34%</td><td>246</td><td>375</td><td>295,636</td></tr><tr><td>Narcotics</td><td>35</td><td>31%</td><td>54%</td><td>40%</td><td>280</td><td>256</td><td>3,585</td></tr><tr><td>Secret Service</td><td>280</td><td>77%</td><td>29%</td><td>16%</td><td>674</td><td>285</td><td>12,808</td></tr><tr><td>Internal Revenue</td><td>288</td><td>57%</td><td>56%</td><td>26%</td><td>504</td><td>223</td><td>16,962</td></tr><tr><td></td><td>4</td><td>5/</td><td>5/</td><td>5/</td><td>821</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 prosecu-
tion.
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/ Cases disposed of by luncacy hearings not included in calculating percentages.
5/ Too few cases to show comparative percentages.
6/ Percent probated based on cases in which a suspended or probationary sentence only was imposed.
Treasury Criminal Cases, by Months
Total Alcohol Tax, Customs, Narcotics, Secret Service, Internal Revenue
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>1939-June.</td><td>19,326</td><td>3,325</td><td>3,657</td><td>18,994</td><td>- 332</td></tr><tr><td>July.</td><td>18,994</td><td>2,906</td><td>1,918</td><td>19,982</td><td>+ 988</td></tr><tr><td>Aug..</td><td>19,982</td><td>3,333</td><td>1,317</td><td>21,998</td><td>+2,016</td></tr><tr><td>Sept.</td><td>21,998</td><td>3,355</td><td>2,282</td><td>23,071</td><td>+1,073</td></tr><tr><td>Oct..</td><td>23,071</td><td>3,193</td><td>4,611</td><td>21,653</td><td>-1,418</td></tr><tr><td>Nov..</td><td>21,653</td><td>2,796</td><td>4,218</td><td>20,231</td><td>-1,422</td></tr></table>
DISPOSITIONS 2/
<table><tr><th rowspan="2">Bureau</th><th rowspan="2">Number cases closed</th><th rowspan="2">Number cases transferred 3/</th><th colspan="3">Percent released</th><th rowspan="2">Total</th><th colspan="3">Percent convicted</th></tr><tr><th>Before indict.</th><th>After indict.</th><th>Acquits</th><th>Found guilty</th><th>Plead guilty</th><th>Total</th></tr><tr><td>1939-June.</td><td>3,657</td><td>177</td><td>17%</td><td>8%</td><td>3%</td><td>28%</td><td>7%</td><td>65%</td><td>72%</td></tr><tr><td>July.</td><td>1,918</td><td>96</td><td>25%</td><td>14%</td><td>2%</td><td>41%</td><td>4%</td><td>55%</td><td>59%</td></tr><tr><td>Aug.</td><td>1,317</td><td>92</td><td>23%</td><td>10%</td><td>4%</td><td>37%</td><td>10%</td><td>53%</td><td>63%</td></tr><tr><td>Sept.</td><td>2,282</td><td>149</td><td>21%</td><td>7%</td><td>2%</td><td>30%</td><td>6%</td><td>64%</td><td>70%</td></tr><tr><td>Oct.</td><td>4,611</td><td>218</td><td>17%</td><td>7%</td><td>3%</td><td>27%</td><td>8%</td><td>65%</td><td>71%</td></tr><tr><td>Nov.</td><td>4,218</td><td>232</td><td>14%</td><td>7%</td><td>3%</td><td>24%</td><td>8%</td><td>68%</td><td>76%</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>1939-June.</td><td>2,393</td><td>60%</td><td>40%</td><td>29%</td><td>428</td><td>423</td><td>289,057</td></tr><tr><td>July.</td><td>1,001</td><td>60%</td><td>39%</td><td>28%</td><td>365</td><td>277*</td><td>77,247*</td></tr><tr><td>Aug.</td><td>710</td><td>54%</td><td>43%</td><td>27%</td><td>556</td><td>471*</td><td>92,452</td></tr><tr><td>Sept.</td><td>1,446</td><td>66%</td><td>32%</td><td>33%</td><td>378</td><td>321*</td><td>155,776</td></tr><tr><td>Oct.</td><td>3,121</td><td>58%</td><td>40%</td><td>27%</td><td>422</td><td>402</td><td>345,174</td></tr><tr><td>Nov.</td><td>2,955</td><td>58%</td><td>40%</td><td>31%</td><td>325</td><td>359</td><td>332,491</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/ Narcotic and customs cases in which no arrests were made and secret service cases disposed of by larceny hearings are not included in calculating percentages.
3/ 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.
* Revised figure.
<table><tr><td>Treas.</td><td>U.S. Treasury Dept.</td></tr><tr><td>HJ</td><td></td></tr><tr><td>10</td><td>Treasury Bulletin</td></tr><tr><td>.A2</td><td></td></tr><tr><td>1940</td><td></td></tr><tr><td>c.2</td><td></td></tr><tr><td>Treas.</td><td></td></tr><tr><td>HJ</td><td></td></tr><tr><td>10</td><td>US. Treasury Dept.</td></tr><tr><td>.A2</td><td></td></tr><tr><td>AUTHOR</td><td>Treasury Bulletin</td></tr><tr><td>1940</td><td></td></tr><tr><td>TITLE</td><td>Jan. - Mar.</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></table>
U.S. TREASURY LIBRARY 1 0031891