Treasure HJ 10 A2 c.2
COPY No.2
LIBRARY
ROOM 453
LIBRARY
JUN 2, 1972
TREASURY DEPARTMENT
BULLETIN OF THE TREASURY DEPARTMENT
MAY 1942
Analysis of Receipts and Expenditures Composition of the Public Debt Prices and Yields of Government Securities Other Treasury Statistics
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Bulletin of the Treasury Department, May 1942
Cumulative Table of Contents
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th></tr><tr><td colspan="13">I. Summary of fiscal statistics</td></tr><tr><td>Budget receipts and expenditures.</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>8</td></tr><tr><td>Public debt outstanding.</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>2</td><td>2</td><td>2</td><td>8</td></tr><tr><td>Means of financing cash requirements.</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td><td>2</td><td>2</td><td>2</td><td>8</td></tr><tr><td colspan="13">II. Receipts and expenditures</td></tr><tr><td>Budget receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>4</td><td>4</td><td>10</td></tr><tr><td>Summary by major classifications.</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td></td><td></td><td></td></tr><tr><td>Analysis of receipts from internal revenue.</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>5</td><td>5</td><td>5</td><td>11</td></tr><tr><td>Analysis of general expenditures.</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td></td><td></td><td></td><td></td></tr><tr><td>Analysis of expenditures for war activities.</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>5</td><td>5</td><td>5</td><td>11</td></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>3-4</td><td>3-4</td><td>3-4</td><td>9-10</td></tr><tr><td>Total budget receipts and expenditures, by months, for recent years.</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></td><td></td><td></td><td></td></tr><tr><td>Receipts and expenditures for trust accounts, increment on gold, etc.</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td><td></td><td></td><td></td><td></td></tr><tr><td>Means of financing cash requirements beginning 1933.</td><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 colspan="13">Social Security program:</td></tr><tr><td>Budget receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>6</td><td>6</td><td>6</td><td>12</td></tr><tr><td>Social Security Act.</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td></td><td></td><td></td><td></td></tr><tr><td>Railroad Retirement Act.</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>7</td><td>7</td><td>7</td><td>13</td></tr><tr><td>Railroad Unemployment Insurance Act.</td><td>12</td><td>12</td><td>12</td><td>12</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Statements of trust accounts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>6</td><td>6</td><td>6</td><td>12</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund.</td><td>13</td><td>13</td><td>13</td><td>13</td><td>11</td><td>11</td><td>11</td><td>11</td><td></td><td></td><td></td><td></td></tr><tr><td>Railroad Retirement Account.</td><td>13</td><td>13</td><td>13</td><td>13</td><td>12</td><td>12</td><td>12</td><td>12</td><td>7</td><td>7</td><td>7</td><td>13</td></tr><tr><td>Unemployment Trust Fund.</td><td>13</td><td>13</td><td>13</td><td>13</td><td>12</td><td>12</td><td>12</td><td>12</td><td>7</td><td>7</td><td>7</td><td>13</td></tr><tr><td>Cash income and outgo of the Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>8</td><td>8</td><td>8</td><td>14</td></tr><tr><td>Analysis by major classifications.</td><td>14</td><td>14</td><td>14</td><td>14</td><td>13</td><td>13</td><td>13</td><td>13</td><td>8-9</td><td>8-9</td><td>8-9</td><td>14-15</td></tr><tr><td>Total cash income and outgo, by months beginning January 1936.</td><td>14-15</td><td>14-15</td><td>14-15</td><td>14-15</td><td>13-14</td><td>13-14</td><td>13-14</td><td>13-14</td><td>8-9</td><td>8-9</td><td>8-9</td><td>14-15</td></tr><tr><td colspan="13">III. General Fund of the Treasury</td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>17</td><td>17</td><td>17</td><td>17</td><td>16</td><td>16</td><td>16</td><td>16</td><td>11</td><td>11</td><td>11</td><td>17</td></tr><tr><td>Analysis of changes in balance of General Fund.</td><td>18</td><td>18</td><td>18</td><td>18</td><td>17</td><td>17</td><td>17</td><td>17</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">IV. Government securities outstanding</td></tr><tr><td>Public debt outstanding, classified by types of issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>13</td><td></td><td>19</td></tr><tr><td>June 30, 1940 compared with:</td><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>May 31, 1941.</td><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>June 30, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>13</td><td></td><td>19</td></tr><tr><td>June 30, 1941 compared with:</td><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>July 31, 1941.</td><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>August 31, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>13</td><td></td><td></td><td></td></tr><tr><td>September 30, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>19</td><td>19</td><td></td><td></td><td></td></tr><tr><td>October 31, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>19</td><td>19</td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1941.</td><td></td><td></td><td></td><td></td><td>19</td><td>19</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1941.</td><td></td><td></td><td>20</td><td>20</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1942.</td><td></td><td>20</td><td>20</td><td>20</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1942.</td><td></td><td>20</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1942.</td><td>20</td><td>20-21</td><td>20-21</td><td>20-21</td><td>19-20</td><td>19-20</td><td>19-20</td><td>19-20</td><td>13-14</td><td>13-14</td><td>13-14</td><td>19-20</td></tr><tr><td>April 30, 1942.</td><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>Composition of the public debt.</td><td>20-21</td><td>20-21</td><td>20-21</td><td>20-21</td><td>19-20</td><td>19-20</td><td>19-20</td><td>19-20</td><td>13-14</td><td>13-14</td><td>13-14</td><td>19-20</td></tr><tr><td>Debt position of the United States under limitations imposed by Section 21 of the Second Liberty Bond Act, as amended:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>19</td><td></td><td></td></tr><tr><td>June 30, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>25</td><td></td><td></td><td></td></tr><tr><td>September 30, 1941.</td><td></td><td></td><td></td><td></td><td></td><td>21</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1941.</td><td></td><td>22</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1942.</td><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>Maturity schedule of interest-bearing public marketable securities issued or guaranteed by the United States, as of month-end preceding month of publication.</td><td>22-23</td><td>23-24</td><td>22-23</td><td>22-23</td><td>22-23</td><td>21-22</td><td>21-22</td><td>21-22</td><td>15-16</td><td>15-16</td><td>15-16</td><td>25-26</td></tr><tr><td></td><td></td><td></td><td>53</td><td>52</td><td>44</td><td>47</td><td>46</td><td>38</td><td>38</td><td>44</td><td>38</td><td></td></tr><tr><td>Offerings of marketable issues of Treasury bonds and Treasury notes:</td><td>24</td><td>25</td><td>24</td><td>24</td><td>23</td><td>23</td><td>23</td><td>17</td><td>17</td><td>17</td><td>24</td><td></td></tr><tr><td>Beginning with January 1, 1938.</td><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>Offerings of Treasury bills beginning with:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>18</td><td></td><td></td><td></td></tr><tr><td>June 1, 1940.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>24</td><td></td><td></td><td></td><td></td></tr><tr><td>September 1, 1940.</td><td></td><td></td><td></td><td></td><td>25</td><td>25</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 1, 1940.</td><td></td><td>25</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 1, 1941.</td><td></td><td>25</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 1, 1941.</td><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>March 1, 1941.</td><td>26</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>April 1, 1941.</td><td>25</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>Sales of United States savings bonds beginning with May 1941:</td><td>26-27</td><td>27-28</td><td>26</td><td>26</td><td>26</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary, by series.</td><td>28</td><td>29</td><td>26</td><td>26</td><td>26</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by denomination.</td><td>29</td><td>30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by type of purchaser.</td><td>30-32</td><td>31-33</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by State.</td><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></table>
(Continued on following page)
Bulletin of the Treasury Department, May 1942
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="2">1942</th><th colspan="9">1941</th></tr><tr><th></th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th></tr><tr><td>IV. Government securities outstanding (continued)</td><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>Sales of postal savings stamps beginning with May 1941:</td><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>Summary</td><td>33</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Gross sales, classified by denomination</td><td>33</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Redemptions, classified by means of payment</td><td>33</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Gross sales, classified by State</td><td>34</td><td>35</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales of tax series Treasury notes beginning with August 1941:</td><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>Summary, by series</td><td>35</td><td>36</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by denomination</td><td>36</td><td>37</td><td>27</td><td>27</td><td>27</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by type of purchaser</td><td>37</td><td>38</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Redemption by series, classified by means of payment</td><td>38</td><td>39</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Receipts and expenditures on account of public debt</td><td>39</td><td>40</td><td>28</td><td>28</td><td>28</td><td>24</td><td>24</td><td>26</td><td>18</td><td>18</td><td>20</td><td>21</td></tr><tr><td>Computed rate of interest on the public debt</td><td>39</td><td>40</td><td>28</td><td>28</td><td>28</td><td>24</td><td>24</td><td>26</td><td>18</td><td>18</td><td>20</td><td>27</td></tr><tr><td>V. Ownership of Government 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></tr><tr><td>Estimated ownership of all interest-bearing Governmental securities outstanding, classified by issuer and by tax-status, as of June 30, 1937-1941 and December 31, 1941</td><td></td><td></td><td></td><td>30</td><td></td><td></td><td>30</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Shifts in ownership of 2-1/2% Treasury bonds of 1967-72, during October 1941</td><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>Securities held by U. S. Government agencies and trust funds as of March 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>22-23</td><td></td></tr><tr><td>Summary distribution, by holders, of securities issued or guaranteed by the United States</td><td>41</td><td>42</td><td>30</td><td>31</td><td>30</td><td>29</td><td>31</td><td>31</td><td>23</td><td>23</td><td>29</td><td>21</td></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937</td><td>41</td><td>42</td><td>30</td><td>31</td><td>30</td><td>29</td><td>31</td><td>31</td><td>23</td><td>23</td><td>29</td><td>19</td></tr><tr><td>Summary date from Treasury survey of the ownership of Government 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>1-6</td></tr><tr><td>April 30, 1941</td><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>May 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>24-29</td><td>30-35</td></tr><tr><td>June 30, 1941</td><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>July 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>32-37</td><td>24-29</td><td></td><td></td></tr><tr><td>August 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td>32-37</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1941</td><td></td><td></td><td></td><td></td><td></td><td>30-35</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1941</td><td></td><td></td><td></td><td>31-36</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1941</td><td></td><td></td><td></td><td></td><td>32-37</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1941</td><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>January 31, 1942</td><td></td><td>31-36</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1942</td><td></td><td>43-48</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1942</td><td>42-47</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>Geographical classification of data from Treasury survey of the ownership of Government securities, September 30, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>38</td><td></td><td></td><td></td><td></td></tr><tr><td>VI. Prices and yields of Government securities (including securities issued by Federal agencies)</td><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>Over-the-counter closing quotations and price history for public marketable securities issued by the U. S. Government and by Federal agencies, as of the 15th of the month of publication</td><td>49-51</td><td>50-52</td><td>38-40</td><td>39-41</td><td>38-40</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Chart showing yields of individual issues of Treasury bonds and notes, as of the 15th of the month of publication</td><td>52</td><td>53</td><td>41</td><td>42</td><td>41</td><td>27</td><td>28</td><td>29</td><td>21</td><td>21</td><td>27</td><td>29</td></tr><tr><td>New yield average for long-term taxable Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td>25</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds: For 13 months preceding month of publication</td><td></td><td></td><td></td><td>42-43</td><td>25-26</td><td>26-27</td><td>27-28</td><td>19-20</td><td>19-20</td><td>21-26</td><td></td><td>27-28</td></tr><tr><td>Beginning with January 1933</td><td>53-54</td><td>54-55</td><td>42-43</td><td>43-44</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Beginning with January 1934</td><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>VII. Governmental corporations and credit agencies of 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></tr><tr><td>Assets and liabilities and proprietary interest:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>31-32</td><td></td></tr><tr><td>April 30, 1941</td><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>May 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>37-38</td><td></td><td></td></tr><tr><td>June 30, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>31-32</td><td></td><td></td><td></td></tr><tr><td>July 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>31-32</td><td></td><td></td><td></td><td></td></tr><tr><td>August 31, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td>40-41</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1941</td><td></td><td></td><td></td><td></td><td></td><td>37-38</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1941</td><td></td><td></td><td>46-47</td><td>45-46</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1941</td><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>December 31, 1941</td><td></td><td>45-46</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1942</td><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>February 28, 1942</td><td>57-58</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>March 31, 1942</td><td>56-57</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>Sources and uses of funds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year to date</td><td>58-59</td><td>59-60</td><td>47-48</td><td>48-49</td><td>47-48</td><td>39-40</td><td>42-43</td><td>41-42</td><td>33-34</td><td>33-34</td><td>39-40</td><td>33-34</td></tr><tr><td>From inception of organisation</td><td>60-61</td><td>61-62</td><td>49-50</td><td>50-51</td><td>49-50</td><td>41-42</td><td>44-45</td><td>43-44</td><td>35-36</td><td>35-36</td><td>41-42</td><td>35-36</td></tr><tr><td>Amount of obligations outstanding guaranteed by the United States, by agencies</td><td>62</td><td>63</td><td>51</td><td>52</td><td>51</td><td>43</td><td>46</td><td>45</td><td>37</td><td>37</td><td>43</td><td>37</td></tr><tr><td>Financing operations in securities guaranteed by the United States, beginning with 1934</td><td>62</td><td>63</td><td>51</td><td>52</td><td>51</td><td>43</td><td>46</td><td>45</td><td>37</td><td>37</td><td>43</td><td>37</td></tr><tr><td>Maturity schedule of securities guaranteed by the United States, as of month-end preceding month of publication</td><td>22-23</td><td>23-24</td><td>22-23</td><td>53</td><td>52</td><td>44</td><td>47</td><td>46</td><td>38</td><td>38</td><td>44</td><td>38</td></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, May 1942
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="3">1942</th><th colspan="9">1941</th></tr><tr><th></th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th></tr><tr><td>III. Internal revenue statistics</td><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>Collections of internal revenue:</td><td>64-65</td><td>65-66</td><td>53-54</td><td>55-56</td><td>54-55</td><td>45-47</td><td>49-50</td><td>48-49</td><td>40-41</td><td>40-41</td><td>46-47</td><td>41-42</td></tr><tr><td>Summary data.</td><td>66</td><td>67</td><td>55</td><td>57</td><td>56</td><td>48</td><td>51</td><td>50</td><td>42</td><td>42</td><td>48</td><td>40</td></tr><tr><td>Comparative details for current period.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51-55</td><td></td><td></td><td></td><td></td></tr><tr><td>Study of individual income tax returns concerning differences between state of residence and state of filing, 1936 returns.</td><td></td><td>68-71</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Taxable corporation income tax returns for 1940 filed through December 31, 1941.</td><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>IX. Gold and silver statistics</td><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>Cold assets end liabilities of the Treasury.</td><td>68</td><td>73</td><td>77</td><td>77</td><td>76</td><td>70</td><td>74</td><td>77</td><td>64</td><td>63</td><td>69</td><td>63</td></tr><tr><td>Net movement of gold to and from the United States.</td><td></td><td></td><td></td><td></td><td></td><td>70</td><td>74</td><td>77</td><td>64</td><td>63</td><td>69</td><td>63</td></tr><tr><td>Increment from reduction in weight of gold dollar, cumulative to: October 31, 1941.</td><td>68</td><td></td><td></td><td></td><td></td><td></td><td>74</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1941.</td><td></td><td></td><td></td><td>77</td><td></td><td></td><td></td><td></td><td>65</td><td>65</td><td>70-71</td><td>64-65</td></tr><tr><td>Treasury gold receipts, for recent quarterly periods.</td><td>68-69</td><td>73-74</td><td>77-78</td><td>77-78</td><td>76-77</td><td>71-72</td><td>75-76</td><td>78-79</td><td>65-66</td><td>64-65</td><td></td><td></td></tr><tr><td>Monetary stocks of gold and silver.</td><td>70</td><td>75</td><td>79</td><td>79</td><td>78</td><td>72</td><td>76</td><td>79</td><td>66</td><td>65</td><td>71</td><td>65</td></tr><tr><td>Components of silver monetary stock.</td><td>70</td><td>75</td><td>79</td><td>79</td><td>78</td><td>72</td><td>76</td><td>79</td><td>66</td><td>65</td><td>71</td><td>65</td></tr><tr><td>Silver of specified classifications acquired by mints and assay offices.</td><td>71</td><td>76</td><td>80</td><td>80</td><td>79</td><td>73</td><td>77</td><td>80</td><td>67</td><td>66</td><td>72</td><td>66</td></tr><tr><td>Seigniorage on silver, by types.</td><td>71</td><td>76</td><td>80</td><td>80</td><td>79</td><td>73</td><td>77</td><td>80</td><td>67</td><td>66</td><td>72</td><td>66</td></tr><tr><td>Silver production, by countries.</td><td></td><td>76</td><td>80</td><td>80</td><td>79</td><td>73</td><td>77</td><td>80</td><td>67</td><td>66</td><td>72</td><td>66</td></tr><tr><td>Net movement of silver to and from the United States.</td><td></td><td></td><td></td><td></td><td></td><td>74</td><td>78</td><td>81</td><td>68</td><td>67</td><td>73</td><td>67</td></tr><tr><td>X. Other Treasury statistics</td><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>Balance sheet of the Exchange Stabilization Fund:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>75-76</td><td></td><td></td></tr><tr><td>March 31, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>83-84</td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1941.</td><td></td><td>78-79</td><td></td><td></td><td>61-82</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1941.</td><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>December 31, 1941.</td><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>Capital movements between the United States and foreign countries:</td><td></td><td>61-62</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary tables for the calendar year 1941.</td><td>73</td><td>80</td><td>63-64</td><td>63-64</td><td>62-63</td><td>56-57</td><td>59-60</td><td>63-64</td><td>50-51</td><td>49-50</td><td>55-56</td><td>49-50</td></tr><tr><td>Cumulative summary for period beginning 1935:</td><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>Net capital movement between the United States and foreign countries.</td><td></td><td>65-68</td><td>65-68</td><td>64-67</td><td>58-61</td><td>61-64</td><td>65-68</td><td>52-55</td><td>51-54</td><td>57-60</td><td>51-54</td><td></td></tr><tr><td>Details for recent weeks:</td><td></td><td>63-70</td><td>69-70</td><td>63-69</td><td>62-63</td><td>65-66</td><td>69-70</td><td>56-57</td><td>55-56</td><td>61-62</td><td>55-56</td><td></td></tr><tr><td>Short-term foreign liabilities and assets.</td><td></td><td>70</td><td>70</td><td>69</td><td>63</td><td>66</td><td>70</td><td>57</td><td>56</td><td>62</td><td>56</td><td></td></tr><tr><td>Foreign security transactions.</td><td></td><td>71</td><td>72</td><td>70</td><td>64</td><td>67</td><td>71</td><td>58</td><td>57</td><td>63</td><td>57</td><td></td></tr><tr><td>Foreign balances in brokerage accounts.</td><td></td><td>72-73</td><td>72-73</td><td>71-72</td><td>65-66</td><td>68-69</td><td>72-73</td><td>59-60</td><td>58-59</td><td>64-65</td><td>58-59</td><td></td></tr><tr><td>Security transactions in joint foreign arbitrage accounts.</td><td></td><td>74-75</td><td>74-75</td><td>73-74</td><td>67-68</td><td>70-71</td><td>74-75</td><td>61-62</td><td>60-61</td><td>66-67</td><td>60-61</td><td></td></tr><tr><td>Foreign transactions in domestic securities.</td><td></td><td>75</td><td>75</td><td>74</td><td>68</td><td>71</td><td>75</td><td>62</td><td>61</td><td>67</td><td>61</td><td></td></tr><tr><td>Foreign exchange transactions.</td><td></td><td></td><td></td><td></td><td></td><td>72</td><td></td><td>49-50</td><td>51</td><td></td><td></td><td></td></tr><tr><td>Net position 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></tr><tr><td>Revisions in statistics on capital movements.</td><td></td><td></td><td></td><td></td><td></td><td>50</td><td>53</td><td>57</td><td>44</td><td>44</td><td>50</td><td>44</td></tr><tr><td>Customs statistics:</td><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>Values of dutiable and taxable imports, by tariff schedules.</td><td></td><td></td><td></td><td></td><td></td><td>50</td><td>53</td><td>57</td><td>44</td><td>44</td><td>50</td><td>44</td></tr><tr><td>Customs duties and taxes collected:</td><td></td><td></td><td></td><td></td><td></td><td>51</td><td>54</td><td>58</td><td>45</td><td>45</td><td>51</td><td>45</td></tr><tr><td>By tariff schedules.</td><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>By countries from which imports originated.</td><td></td><td>57-59</td><td>59-61</td><td>58-60</td><td>52-54</td><td>55-57</td><td>59-61</td><td>46-47</td><td>46-47</td><td>52-53</td><td>46-47</td><td></td></tr><tr><td>Commodities imported under quota provisions, quota years to date.</td><td></td><td></td><td></td><td></td><td></td><td>76</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Estimated amount of all interest-bearing governmental securities outstanding as of June 30, 1941.</td><td></td><td></td><td></td><td></td><td></td><td>77</td><td>80</td><td>85</td><td>70</td><td>69</td><td>77</td><td>63</td></tr><tr><td>Vessels cleared from the United States direct for foreign ports:</td><td></td><td></td><td></td><td></td><td></td><td>78</td><td>81</td><td>86</td><td>71</td><td>70</td><td>78</td><td>70</td></tr><tr><td>By nationality.</td><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>By ports from which cleared.</td><td></td><td></td><td></td><td>82</td><td>83</td><td>79</td><td>82</td><td>87</td><td>72</td><td>71</td><td>79</td><td>71</td></tr><tr><td>Treasury Department criminal cases in the United States District Courts, for recent months.</td><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></table>
Note: In tables in which it is indicated that the figures are rounded to a given unit, the details will not necessarily add to the totals shown.
SUMMARY OF FISCAL STATISTICS
-1-
2
Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th></th><th colspan="4">First 10 months, fiscal years 1940 to 1942</th><th colspan="8">Complete fiscal years, 1938 to 1943</th></tr><tr><th></th><th>1940</th><th>1941</th><th>1942</th><th>Change 1941 to 1942</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>1938</th><th>1939</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>Actual 1940 to actual 1941</th><th>Actual 1941 to estimated 1942 1/</th></tr><tr><td>Receipts:</td><td></td><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>Internal revenues:</td><td></td><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 and profits taxes 2/</td><td>1,621</td><td>2,490</td><td>3,658</td><td>+3,168</td><td>2,640</td><td>2,189</td><td>2,125</td><td>3,470</td><td>7,664</td><td>12,031</td><td>+1,345</td><td>+4,394</td></tr><tr><td>Employment taxes</td><td>666</td><td>730</td><td>924</td><td>+194</td><td>755</td><td>740</td><td>833</td><td>925</td><td>1,192</td><td>1,830</td><td>+92</td><td>+267</td></tr><tr><td>Miscellaneous internal revenue 3/</td><td>1,965</td><td>2,448</td><td>3,279</td><td>+831</td><td>2,279</td><td>2,232</td><td>2,345</td><td>2,967</td><td>3,898</td><td>3,959</td><td>+622</td><td>+931</td></tr><tr><td>Customs</td><td>294</td><td>313</td><td>332</td><td>+19</td><td>359</td><td>319</td><td>349</td><td>392</td><td>375</td><td>245</td><td>+43</td><td>-17</td></tr><tr><td>Other receipts</td><td>195</td><td>470</td><td>218</td><td>-252</td><td>208</td><td>188</td><td>273</td><td>515</td><td>249</td><td>294</td><td>+242</td><td>-266</td></tr><tr><td>Total receipts</td><td>4,741</td><td>6,450</td><td>10,410</td><td>+3,960</td><td>6,242</td><td>5,668</td><td>5,925</td><td>8,269</td><td>13,578</td><td>18,359</td><td>+2,344</td><td>+5,309</td></tr><tr><td>Less amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 4/</td><td>403</td><td>513</td><td>666</td><td>+153</td><td>387</td><td>503</td><td>538</td><td>661</td><td>871</td><td>1,441</td><td>+123</td><td>+210</td></tr><tr><td>Net receipts</td><td>4,338</td><td>5,938</td><td>9,744</td><td>+3,806</td><td>5,855</td><td>5,165</td><td>5,387</td><td>7,607</td><td>12,707</td><td>16,918</td><td>+2,220</td><td>+5,100</td></tr><tr><td>Expenditures 5/</td><td></td><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>War activities:</td><td></td><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>War Department</td><td>536</td><td>2,673</td><td>8,855</td><td>+6,182</td><td>432</td><td>490</td><td>667</td><td>3,636</td><td></td><td>6/</td><td>+2,969</td><td></td></tr><tr><td>Navy Department</td><td>716</td><td>1,673</td><td>5,479</td><td>+3,806</td><td>596</td><td>673</td><td>891</td><td>2,266</td><td>6/</td><td>6/</td><td>+1,375</td><td>6/</td></tr><tr><td>Lend-lease</td><td>-</td><td>-</td><td>2,786</td><td>+2,786</td><td>-</td><td>-</td><td>-</td><td>21</td><td></td><td></td><td>+21</td><td></td></tr><tr><td>Miscellaneous war activities</td><td>83</td><td>266</td><td>1,458</td><td>+1,192</td><td>1</td><td>44</td><td>99</td><td>378</td><td></td><td></td><td>+279</td><td></td></tr><tr><td>Total war activities</td><td>1,335</td><td>4,612</td><td>18,578</td><td>+13,966</td><td>1,029</td><td>1,206</td><td>1,657</td><td>6,301</td><td>26,000</td><td>67,000</td><td>+4,644</td><td>+19,699</td></tr><tr><td>Veterans' Administration 1/</td><td>464</td><td>470</td><td>462</td><td>-8</td><td>582</td><td>557</td><td>557</td><td>563</td><td>584</td><td>595</td><td>+6</td><td>+21</td></tr><tr><td>Public Works 8/</td><td>820</td><td>637</td><td>571</td><td>-66</td><td>804</td><td>1,000</td><td>950</td><td>738</td><td>764</td><td>603</td><td>-212</td><td>+26</td></tr><tr><td>Aid to agriculture 2/</td><td>1,378</td><td>942</td><td>1,090</td><td>+148</td><td>854</td><td>1,228</td><td>1,559</td><td>937 10/</td><td>1,259</td><td>978</td><td>-622</td><td>+322</td></tr><tr><td>Social Security program</td><td>466</td><td>535</td><td>593</td><td>+58</td><td>482</td><td>454</td><td>513</td><td>588</td><td>638</td><td>741</td><td>+75</td><td>+50</td></tr><tr><td>Direct and work relief:</td><td></td><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>Work Projects Administration and National Youth Administration</td><td>1,312</td><td>1,150</td><td>842</td><td>-308</td><td>1,472</td><td>2,240</td><td>1,572</td><td>1,374</td><td>955</td><td>565</td><td>-198</td><td>-419</td></tr><tr><td>Federal Emergency Relief Administration and Civil Works Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4</td><td>2</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-1</td><td>-</td></tr><tr><td>Civilian Conservation Corps</td><td>238</td><td>219</td><td>148</td><td>-71</td><td>326</td><td>290</td><td>283</td><td>257</td><td>155</td><td>11/</td><td>-26</td><td>-102</td></tr><tr><td>Interest on the public debt</td><td>726</td><td>760</td><td>851</td><td>+91</td><td>926</td><td>941</td><td>1,041</td><td>1,111</td><td>1,250</td><td>1,750</td><td>+70</td><td>+139</td></tr><tr><td>Other 12/</td><td>728</td><td>716</td><td>779</td><td>+63</td><td>759</td><td>789</td><td>866</td><td>841</td><td>974</td><td>911</td><td>-25</td><td>+133</td></tr><tr><td>Total expenditures 5/</td><td>7,465</td><td>10,041</td><td>23,913</td><td>+13,872</td><td>7,239</td><td>8,707</td><td>8,998</td><td>12,711</td><td>32,579</td><td>73,141</td><td>+3,713</td><td>+19,868</td></tr><tr><td>Net budget deficit 5/</td><td>3,127</td><td>4,104</td><td>14,169</td><td>+10,065</td><td>1,384</td><td>3,542</td><td>3,611</td><td>5,103</td><td>19,872</td><td>56,223 13/</td><td>+1,492</td><td>+14,769</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Revised budget estimates as of April 24, 1942.
2/ Includes unjust enrichment tax.
3/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.
4/ For explanations, see tables in next chapter on Social Security program.
5/ Excludes public debt retirements.
6/ Revised budget estimates of April 24 for total war activities; expenditures are not distributed by spending agencies.
7/ Includes expenditures classified as transfers to trust accounts, etc., for the Adjusted Service Certificate Fund.
8/ Includes Public Works transactions classified as Revolving Funds (net).
9/ Includes Aid to agriculture transactions classified as Revolving Funds (net), expenditures of the Department of Agriculture classified as Departmental in the Daily Treasury Statement, and Agricultural Marketing Administration transactions classified as transfers to trust accounts, etc.
10/ Represents gross expenditures of $1,252 millions less repayments of U. S. investments in capital funds aggregating $115 millions.
11/ Estimate included with that given for Work Projects Administration and National Youth Administration.
12/ Includes departmental expenditures except for Department of Agriculture; and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
13/ Receipts from proposed tax legislation estimated at $7 billions would reduce this excess of expenditures to $19,223 millions.
3
Public Debt Outstanding
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="4">End of first 10 months, fiscal years 1940 to 1942</th><th colspan="8">End of fiscal years, 1933 to 1943</th></tr><tr><th>Apr. 30, 1940</th><th>Apr. 30, 1941</th><th>Apr. 30, 1942</th><th>Change Apr. 30, 1941 to Apr. 30, 1942</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1938</th><th>June 30, 1939</th><th>June 30, 1940</th><th>June 30, 1941</th><th>June 30, 1942</th><th>June 30, 1943</th><th>Actual June 30, 1940 to actual June 30, 1941</th><th>Actual June 30, 1941 to estimated June 30, 1942</th></tr><tr><td>Interest-bearing debt:</td><td></td><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>Public issues:</td><td></td><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>Marketable</td><td>34,536</td><td>37,075</td><td>45,137</td><td>+8,062</td><td>32,344</td><td>33,965</td><td>34,436</td><td>37,713</td><td>2/</td><td>2/</td><td>+3,277</td><td>2/</td></tr><tr><td>Non-marketable</td><td>3,085</td><td>3,891</td><td>12,002</td><td>+8,111</td><td>1,556</td><td>2,151</td><td>3,166</td><td>4,555</td><td>2/</td><td>2/</td><td>+1,389</td><td>2/</td></tr><tr><td>Total public issues</td><td>37,620</td><td>40,967</td><td>57,139</td><td>+16,172</td><td>33,900</td><td>36,116</td><td>37,602</td><td>42,267</td><td>2/</td><td>2/</td><td>+4,666</td><td>2/</td></tr><tr><td>Special issues</td><td>4,496</td><td>5,707</td><td>7,358</td><td>+1,651</td><td>2,676</td><td>3,770</td><td>4,775</td><td>6,120</td><td>2/</td><td>2/</td><td>+1,345</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>42,117</td><td>46,673</td><td>64,496</td><td>+17,823</td><td>36,576</td><td>39,886</td><td>42,376</td><td>48,387</td><td>2/</td><td>2/</td><td>+6,011</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>541</td><td>557</td><td>465</td><td>-92</td><td>589</td><td>554</td><td>591</td><td>574</td><td>2/</td><td>2/</td><td>-17</td><td>2/</td></tr><tr><td>Total public debt outstanding 3/</td><td>42,658</td><td>47,231</td><td>64,961</td><td>+17,731</td><td>37,165</td><td>40,440</td><td>42,968</td><td>48,961</td><td>71,852</td><td>125,443</td><td>+5,994</td><td>+22,891</td></tr></table>
<table><tr><th>Year</th><th>Female</th><th>Male</th></tr><tr><td>2011</td><td>23.0%</td><td>24.3%</td></tr><tr><td>2012</td><td>22.9%</td><td>24.2%</td></tr><tr><td>2013</td><td>22.8%</td><td>24.1%</td></tr><tr><td>2014</td><td>22.7%</td><td>24.0%</td></tr><tr><td>2015</td><td>22.6%</td><td>23.9%</td></tr><tr><td>2016</td><td>22.5%</td><td>23.8%</td></tr><tr><td>2017</td><td>22.4%</td><td>23.7%</td></tr><tr><td>2018</td><td>22.3%</td><td>23.6%</td></tr></table>
Source: Daily Treasury Statement, except as noted. 1/ Based upon Budget estimates revised as of April 24, 1942. 2/ Details not available.
3/ Does not include securities issued by Federal agencies and guaranteed by the United States.
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th></th><th colspan="3">First 10 months, fiscal years 1940 to 1942</th><th colspan="6">Complete fiscal years, 1938 to 1943</th></tr><tr><th></th><th>1940</th><th>1941</th><th>1942</th><th>1938</th><th>1939</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th></tr><tr><th>Amount required to be financed:</th><th></th><th></th><th></th><th colspan="3">Actual</th><th colspan="3">Estimated 1/</th></tr><tr><td>Net budget deficit 2/.</td><td>3,127</td><td>4,104</td><td>14,169</td><td>1,384</td><td>3,542</td><td>3,611</td><td>5,103</td><td>18,632</td><td>49,223</td></tr><tr><td>Net increase in General Fund balance.</td><td>-</td><td>535</td><td>218</td><td>-</td><td>622</td><td>-</td><td>742</td><td>-</td><td>13</td></tr><tr><td>Net expenditures in trust accounts, increment on gold, etc. 3/.</td><td>-</td><td>-</td><td>1,613</td><td>-</td><td>-</td><td>-</td><td>148</td><td>3,027</td><td>4,355</td></tr><tr><td>Total amount required to be financed.</td><td>3,127</td><td>4,638</td><td>16,000</td><td>1,384</td><td>4,164</td><td>3,611</td><td>5,994</td><td>21,659</td><td>53,591</td></tr><tr><th>Means of financing:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>Increase in public debt.</td><td>2,215</td><td>4,263</td><td>16,000</td><td>740</td><td>3,275</td><td>2,528</td><td>5,994</td><td>21,652</td><td>53,591</td></tr><tr><td>Net decrease in General Fund balance.</td><td>628</td><td>-</td><td>-</td><td>338</td><td>-</td><td>947</td><td>-</td><td>8</td><td>-</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/.</td><td>280</td><td>375</td><td>-</td><td>306</td><td>890</td><td>136</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed.</td><td>3,127</td><td>4,638</td><td>16,000</td><td>1,384</td><td>4,164</td><td>3,611</td><td>5,994</td><td>21,659</td><td>53,591</td></tr></table>
Source: Daily Treasury Statements. 1/ Based upon Budget estimates revised as of April 24, 1942. 2/ Excludes public debt retirements.
3/ Comprises trust accounts, checking accounts of Government agencies, etc., increment on gold, seigniorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
RECEIPTS AND EXPENDITURES
5
Budget Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Receipts</th><th colspan="6">Expenditures 1/</th><th rowspan="2">Public debt retirements 9/</th></tr><tr><th>Total receipto</th><th>Internal revenue 2/</th><th>Customs 3/</th><th>Other receipts</th><th>Less net amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 4/</th><th>Net receipts</th><th>Total expenditures</th><th>General 5/</th><th>War activities 6/</th><th>Revolving funds (nat) 7/</th><th>Transfer to trust accounts etc. 1/</th><th>Net deficit 8/</th></tr><tr><td>1933</td><td>2,080</td><td>1,604</td><td>251</td><td>225</td><td>-</td><td>2,080</td><td>3,853</td><td>2,989</td><td>680</td><td>74</td><td>121</td><td>1,784</td><td>462</td></tr><tr><td>1934</td><td>3,116</td><td>2,641</td><td>313</td><td>162</td><td>-</td><td>3,116</td><td>6,011</td><td>4,914</td><td>531</td><td>496</td><td>71</td><td>2,896</td><td>360</td></tr><tr><td>1935</td><td>3,800</td><td>3,278</td><td>343</td><td>179</td><td>-</td><td>3,800</td><td>7,010</td><td>5,905</td><td>689</td><td>345</td><td>71</td><td>3,209</td><td>574</td></tr><tr><td>1936</td><td>4,116</td><td>3,513</td><td>387</td><td>216</td><td>-</td><td>4,116</td><td>8,666</td><td>5,981</td><td>900</td><td>11</td><td>1,614</td><td>4,550</td><td>403</td></tr><tr><td>1937</td><td>5,294</td><td>4,597</td><td>486</td><td>210</td><td>265</td><td>5,029</td><td>8,117</td><td>6,442</td><td>929</td><td>204</td><td>603</td><td>3,189</td><td>104</td></tr><tr><td>1938</td><td>6,282</td><td>5,674</td><td>399</td><td>208</td><td>387</td><td>5,895</td><td>7,239</td><td>5,669</td><td>1,029</td><td>121</td><td>220</td><td>1,384</td><td>65</td></tr><tr><td>1939</td><td>5,668</td><td>5,161</td><td>319</td><td>188</td><td>503</td><td>5,165</td><td>8,707</td><td>7,226</td><td>1,206</td><td>92</td><td>182</td><td>3,542</td><td>58</td></tr><tr><td>1940</td><td>5,925</td><td>5,303</td><td>349</td><td>273 10/</td><td>535</td><td>5,387</td><td>8,998</td><td>7,061</td><td>1,657</td><td>54</td><td>226</td><td>3,611</td><td>129</td></tr><tr><td>1941</td><td>8,269</td><td>7,362</td><td>392</td><td>515 11/</td><td>661</td><td>7,607</td><td>12,711</td><td>6,221 12/</td><td>6,301</td><td>-136 12/</td><td>325</td><td>5,103</td><td>64</td></tr><tr><td>1941-April</td><td>602</td><td>362</td><td>49</td><td>191</td><td>37</td><td>565</td><td>1,315</td><td>503</td><td>782</td><td>2</td><td>28</td><td>750</td><td>1</td></tr><tr><td>May</td><td>541</td><td>483</td><td>41</td><td>17</td><td>147</td><td>394</td><td>1,181</td><td>369</td><td>857</td><td>-97</td><td>12</td><td>747</td><td>1</td></tr><tr><td>June</td><td>1,277</td><td>1,211</td><td>38</td><td>28</td><td>1</td><td>1,276</td><td>1,528</td><td>687</td><td>632</td><td>-1</td><td>10</td><td>252</td><td>17</td></tr><tr><td>July</td><td>456</td><td>400</td><td>37</td><td>19</td><td>43</td><td>413</td><td>1,598</td><td>462</td><td>966</td><td>2</td><td>169</td><td>1,185</td><td>3</td></tr><tr><td>August</td><td>554</td><td>501</td><td>35</td><td>19</td><td>157</td><td>397</td><td>1,529</td><td>383</td><td>1,129</td><td>3</td><td>14</td><td>1,133</td><td>34</td></tr><tr><td>September</td><td>1,136</td><td>1,077</td><td>36</td><td>23</td><td>1</td><td>1,135</td><td>1,874</td><td>539</td><td>1,327</td><td>2</td><td>6</td><td>739</td><td>8</td></tr><tr><td>October</td><td>489</td><td>431</td><td>34</td><td>23</td><td>43</td><td>445</td><td>2,083</td><td>488</td><td>1,534</td><td>15</td><td>45</td><td>1,637</td><td>7</td></tr><tr><td>November</td><td>730</td><td>663</td><td>30</td><td>18</td><td>166</td><td>564</td><td>1,858</td><td>403</td><td>1,446</td><td>-1</td><td>10</td><td>1,294</td><td>3</td></tr><tr><td>December</td><td>1,214</td><td>1,159</td><td>33</td><td>22</td><td>2</td><td>1,212</td><td>2,542</td><td>686</td><td>1,847</td><td>0</td><td>9</td><td>1,329</td><td>16</td></tr><tr><td>1942-January</td><td>614</td><td>555</td><td>35</td><td>24</td><td>36</td><td>578</td><td>2,628</td><td>487</td><td>2,101</td><td>-2</td><td>42</td><td>2,050</td><td>3</td></tr><tr><td>February</td><td>937</td><td>879</td><td>27</td><td>31</td><td>179</td><td>758</td><td>2,629</td><td>419</td><td>2,201</td><td>0</td><td>9</td><td>1,871</td><td>1</td></tr><tr><td>March</td><td>3,548</td><td>3,493</td><td>33</td><td>22</td><td>1</td><td>3,547</td><td>3,421</td><td>602</td><td>2,797</td><td>-1</td><td>22</td><td>-126</td><td>15</td></tr><tr><td>April</td><td>732</td><td>684</td><td>32</td><td>16</td><td>37</td><td>695</td><td>3,753</td><td>475</td><td>3,231</td><td>-1</td><td>48</td><td>3,058</td><td>2</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Excludes public debt retirements.
2/ For further details, see table 2.
3/ For further details, see chapter on Customs Statistics in December "Bulletin".
4/ For explanation see tables which follow on the Social Security program.
5/ For further details, see Table 3.
6/ For further details, see Table 4.
7/ For further details, see Table 5. Also see footnote 4/.
8/ Total expenditures less net receipts.
9/ Represents retirements required by law chargeable to the Sinking Fund, and retirements under special provisions of law from other funds.
10/ Includes partial return of amounts paid to the Commodity Credit Corporation for the restoration of Capital impairment - $44 millions; and the repurchase by Federal savings and loan associations of the Treasury Department's investment in their shares - $10 millions.
11/ Includes recoveries of U. S. investments in capital funds as follows: Reconstruction Finance Corporation stock retired - $175 millions; Federal Home Loan Bank stock (resold to Reconstruction Finance Corporation) - $125 millions; retirement of Treasury investment in Federal Savings and Loan Association shares - $10 millions; sale to Reconstruction Finance Corporation of bonds held by Public Works Administration - $9 millions. 12/ Receipts from capital stock and paid-in surplus reductions that are available to be reissued under existing law are not reflected under receipts, but rather are included as negative items under expenditures. During the fiscal year 1941, reductions in capital in this manner were as follows: Under general expenditures: Banks for cooperatives - $60 millions, and Federal land banks - $100 millions; under revolving funds: Federal Farm Mortgage Corporation - $100 millions, Federal intermediates credit banks - $40 millions, and production credit corporations - $15 millions; a total of $315 millions.
Table 2.- Analysis of Receipts from Internal Revenue
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Income and profit taxes 2/</th><th>Total</th><th colspan="3">Employment taxes</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th><th>Miscellaneous internal revenue 3/</th><th>Agricultural adjustment taxes</th></tr><tr><th></th><th></th><th></th><th></th><th>Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th></th><th></th><th></th><th></th></tr><tr><td>1933</td><td>1,604</td><td>746</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>858</td><td>-</td></tr><tr><td>1934</td><td>2,681</td><td>618</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,470</td><td>353</td></tr><tr><td>1935</td><td>3,278</td><td>1,039</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,657</td><td>521</td></tr><tr><td>1936</td><td>3,513</td><td>1,427</td><td>*</td><td>-</td><td>-</td><td>*</td><td>*</td><td>2,010</td><td>77</td></tr><tr><td>1937</td><td>4,537</td><td>2,163</td><td>253</td><td>194</td><td>58</td><td></td><td></td><td>2,161</td><td></td></tr><tr><td>1938</td><td>5,674</td><td>2,640</td><td>155</td><td>514</td><td>90</td><td>150</td><td></td><td>2,279</td><td>*</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>740</td><td>530</td><td>101</td><td>109</td><td></td><td>2,232</td><td>-</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>833</td><td>605</td><td>108</td><td>121</td><td></td><td>2,345</td><td>-</td></tr><tr><td>1941</td><td>7,362</td><td>3,470</td><td>925</td><td>691</td><td>95</td><td>137</td><td></td><td>2,967</td><td>-</td></tr><tr><td>1941-April</td><td>362</td><td>75</td><td>43</td><td>39</td><td>2</td><td>1</td><td></td><td>244</td><td>-</td></tr><tr><td>May</td><td>463</td><td>63</td><td>165</td><td>150</td><td>7</td><td>8</td><td></td><td>254</td><td>-</td></tr><tr><td>June</td><td>1,211</td><td>916</td><td>30</td><td>3</td><td>1</td><td>26</td><td></td><td>265</td><td>-</td></tr><tr><td>July</td><td>400</td><td>84</td><td>48</td><td>45</td><td>2</td><td>1</td><td></td><td>268</td><td>-</td></tr><tr><td>August</td><td>501</td><td>59</td><td>173</td><td>160</td><td>7</td><td>6</td><td></td><td>269</td><td>-</td></tr><tr><td>September</td><td>1,077</td><td>780</td><td>35</td><td>3</td><td>1</td><td>31</td><td></td><td>261</td><td>-</td></tr><tr><td>October</td><td>431</td><td>68</td><td>49</td><td>46</td><td>2</td><td>1</td><td></td><td>314</td><td>-</td></tr><tr><td>November</td><td>683</td><td>66</td><td>180</td><td>168</td><td>7</td><td>5</td><td></td><td>436</td><td>-</td></tr><tr><td>December</td><td>1,159</td><td>767</td><td>39</td><td>6</td><td>1</td><td>34</td><td></td><td>353</td><td>-</td></tr><tr><td>1942-January</td><td>555</td><td>133</td><td>53</td><td>39</td><td>13</td><td>1</td><td></td><td>369</td><td>-</td></tr><tr><td>February</td><td>879</td><td>283</td><td>257</td><td>181</td><td>71</td><td>4</td><td></td><td>340</td><td>-</td></tr><tr><td>March</td><td>3,493</td><td>3,083</td><td>46</td><td>3</td><td>2</td><td>42</td><td></td><td>364</td><td>-</td></tr><tr><td>April</td><td>684</td><td>335</td><td>43</td><td>39</td><td>3</td><td>1</td><td></td><td>305</td><td>-</td></tr></table>
Sources: Daily Treasury Statements.
* Less than $500,000
1/ For further details, see chapter on Internal Revenue Statistics.
2/ Includes unjust enrichment tax.
3/ For the period prior to September 1939, the data in the columns entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
4/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes and octane tax.
6
Budget Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Veterans' Administration 1/</th><th>Public Works 2/</th><th>Aid to agriculture 3/</th><th>Social Security program 4/</th><th colspan="2">Direct and work relief</th><th>Civilian Conservation Corps</th><th>Interest on the public debt</th><th>Other departmental 1/</th><th>Other general expenditures 5/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Work Projects Administration and National Youth Administration 5/</th><th>Federal Emergency Relief Administration and Civil Works Administration 6/</th><th></th><th></th><th></th><th></th></tr><tr><td>1933</td><td>2,989</td><td>763</td><td>442</td><td>102</td><td>-</td><td>-</td><td>336</td><td>14</td><td>689</td><td>357</td><td>285</td></tr><tr><td>1934</td><td>4,914</td><td>507</td><td>549</td><td>429</td><td>-</td><td>-</td><td>1,513</td><td>332</td><td>757</td><td>313</td><td>514</td></tr><tr><td>1935</td><td>5,905</td><td>557</td><td>679</td><td>930</td><td>-</td><td>-</td><td>1,831</td><td>436</td><td>821</td><td>364</td><td>287</td></tr><tr><td>1936</td><td>5,941</td><td>578</td><td>685</td><td>966</td><td>29</td><td>1,264</td><td>495</td><td>486</td><td>749</td><td>424</td><td>264</td></tr><tr><td>1937</td><td>6,442</td><td>581</td><td>803</td><td>988</td><td>184</td><td>1,896</td><td>-1</td><td>386</td><td>866</td><td>510</td><td>228</td></tr><tr><td>1938</td><td>5,869</td><td>582</td><td>670</td><td>866</td><td>335</td><td>1,472</td><td>4</td><td>326</td><td>926</td><td>481</td><td>205</td></tr><tr><td>1939</td><td>7,226</td><td>557</td><td>900</td><td>1,237</td><td>347</td><td>2,240</td><td>2</td><td>290</td><td>941</td><td>517</td><td>196</td></tr><tr><td>1940</td><td>7,061</td><td>557</td><td>890</td><td>1,546</td><td>392</td><td>1,572</td><td>1</td><td>283</td><td>1,041</td><td>546</td><td>233</td></tr><tr><td>1941</td><td>6,221</td><td>553</td><td>715</td><td>1,006 2/</td><td>457</td><td>1,374</td><td>-</td><td>257</td><td>1,111</td><td>525</td><td>222</td></tr><tr><td>1941-April</td><td>503</td><td>46</td><td>42</td><td>85</td><td>50</td><td>118</td><td>-</td><td>21</td><td>73</td><td>44</td><td>24</td></tr><tr><td>May</td><td>369</td><td>47</td><td>47</td><td>32</td><td>36</td><td>118</td><td>-</td><td>19</td><td>12</td><td>47</td><td>11</td></tr><tr><td>June</td><td>687</td><td>45</td><td>51</td><td>42</td><td>18</td><td>107</td><td>-</td><td>20</td><td>339</td><td>40</td><td>25</td></tr><tr><td>July</td><td>462</td><td>46</td><td>60</td><td>78</td><td>61</td><td>106</td><td>-</td><td>21</td><td>25</td><td>41</td><td>23</td></tr><tr><td>August</td><td>383</td><td>46</td><td>63</td><td>52</td><td>44</td><td>82</td><td>-</td><td>19</td><td>9</td><td>51</td><td>17</td></tr><tr><td>September</td><td>539</td><td>46</td><td>61</td><td>66</td><td>34</td><td>86</td><td>-</td><td>18</td><td>169</td><td>48</td><td>11</td></tr><tr><td>October</td><td>488</td><td>48</td><td>68</td><td>71</td><td>57</td><td>88</td><td>-</td><td>17</td><td>75</td><td>48</td><td>17</td></tr><tr><td>November</td><td>403</td><td>46</td><td>51</td><td>104</td><td>41</td><td>78</td><td>-</td><td>14</td><td>15</td><td>44</td><td>11</td></tr><tr><td>December</td><td>686</td><td>46</td><td>58</td><td>137</td><td>34</td><td>94</td><td>-</td><td>15</td><td>232</td><td>54</td><td>14</td></tr><tr><td>1942-January</td><td>487</td><td>46</td><td>55</td><td>134</td><td>56</td><td>77</td><td>-</td><td>12</td><td>32</td><td>49</td><td>27</td></tr><tr><td>February</td><td>419</td><td>45</td><td>44</td><td>124</td><td>38</td><td>76</td><td>-</td><td>12</td><td>12</td><td>51</td><td>18</td></tr><tr><td>March</td><td>602</td><td>46</td><td>47</td><td>104</td><td>33</td><td>79</td><td>-</td><td>11</td><td>205</td><td>62</td><td>17</td></tr><tr><td>April</td><td>475</td><td>46</td><td>54</td><td>86</td><td>50</td><td>76</td><td>-</td><td>10</td><td>77</td><td>51</td><td>24</td></tr></table>
Source: Daily Treasury Statements.
1/ Includes public works undertaken by the Veterans' Administration. Additional expenditures included in Table 5, transfers to trust account, etc., for the Adjusted Service Certificate Fund.
2/ Includes public buildings, public highways (including forest roads and trails), river and harbor work and flood control, Tennessee Valley Authority, Federal Public Housing Authority (formerly U. S. Housing Authority), Reclamation projects and the Public Works Administration. Excludes certain expenditures for public works in connection with war activities by the Federal Works Agency, beginning July 1941, which are included in Table 4. Additional transactions are included under Revolving funds, Table 5.
3/ Comprises Agricultural Conservation and Adjustment Administration, Agricultural Marketing Administration, Commodity Credit Corporation, Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Farm Security Administration, Farm Tenant Act, Rural Electrification Administration, and Department of Agriculture departmental expenditures. Additional transactions are included under Revolving funds, Table 5.
4/ Includes railroad retirement and railroad unemployment activities. For further details, see tables which follow on the Social Security program.
5/ Work Projects Administration was formerly Works Progress Adminis-tration.
6/ Includes expenditures of the Reconstruction Finance Corporation for relief through loans and grants to States, municipalities, etc.
7/ Excludes expenditures for the U. S. Maritime Commission, departmental expenditures under the Social Security program and the Department of Agriculture departmental expenditures.
8/ Includes expenditures for the following: Office of Education, and Public Health Service of the Federal Security Agency; refunds of taxes and duties by the Treasury Department; Post Office Department postal deficiencies; the Panama Canal; Federal Housing Administra-tion; District of Columbia (United States share); and Treasury Department investments in Federal savings and loan associations. Also includes expenditures for capital stock of the Federal Deposit Insurance Corporation, Home Owners' Loan Corporation, Federal home loan banks, and Disaster Loan Corporation.
9/ These expenditures have been reduced $160 millions representing the repayments of capital funds by certain governmental agencies.
Table 4.- Analysis of Expenditures for War Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>War Department</th><th>Heavy Department</th><th>Land-lease</th><th>Total miscellaneous war activities</th><th>Federal Security Agency</th><th>Federal Works Agency 1/</th><th>Emergency fund for the President</th><th>National Housing Agency 1/</th><th>Selective Service (administrative expenses)</th><th>United States Maritime Commission 2/</th><th>War Shipping Adminal- tretion</th><th>Aid to China</th><th>Other war activities expenditures 3/</th></tr><tr><td>1933</td><td>680</td><td>302</td><td>350</td><td>-</td><td>29</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>29</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>531</td><td>243</td><td>297</td><td>-</td><td>-10</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-10</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>689</td><td>273</td><td>436</td><td>-</td><td>-21</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-21</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>900</td><td>383</td><td>529</td><td>-</td><td>-12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-12</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>929</td><td>378</td><td>557</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>1,029</td><td>432</td><td>596</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>1,206</td><td>490</td><td>673</td><td>-</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1940</td><td>1,657</td><td>667</td><td>891</td><td>-</td><td>99</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>99</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1941</td><td>6,301</td><td>3,636</td><td>2,266</td><td>21</td><td>378</td><td>108</td><td>-</td><td>103</td><td>42</td><td>18</td><td>44</td><td>-</td><td>-</td><td>63</td></tr><tr><td>1941-April</td><td>782</td><td>516</td><td>223</td><td>-</td><td>43</td><td>10</td><td>-</td><td>18</td><td>3</td><td>2</td><td>4</td><td>-</td><td>-</td><td>5</td></tr><tr><td>May</td><td>857</td><td>456</td><td>342</td><td>7</td><td>53</td><td>10</td><td>-</td><td>24</td><td>7</td><td>2</td><td>3</td><td>-</td><td>-</td><td>6</td></tr><tr><td>June</td><td>832</td><td>507</td><td>252</td><td>15</td><td>59</td><td>6</td><td>-</td><td></td><td>31</td><td>2</td><td>10</td><td>-</td><td>-</td><td>9</td></tr><tr><td>July</td><td>966</td><td>504</td><td>345</td><td>34</td><td>78</td><td>3</td><td>-</td><td>15</td><td>19</td><td>2</td><td>28</td><td>-</td><td>-</td><td>11</td></tr><tr><td>August</td><td>1,129</td><td>579</td><td>421</td><td>69</td><td>59</td><td>29</td><td>*</td><td>15</td><td>24</td><td>2</td><td>-25</td><td>-</td><td>-</td><td>13</td></tr><tr><td>September</td><td>1,327</td><td>700</td><td>384</td><td>140</td><td>102</td><td>16</td><td>*</td><td>17</td><td>28</td><td>2</td><td>26</td><td>-</td><td>-</td><td>13</td></tr><tr><td>October</td><td>1,534</td><td>786</td><td>449</td><td>192</td><td>107</td><td>12</td><td>1</td><td>17</td><td>38</td><td>2</td><td>21</td><td>-</td><td>-</td><td>16</td></tr><tr><td>November</td><td>1,446</td><td>704</td><td>451</td><td>198</td><td>94</td><td>9</td><td>1</td><td>10</td><td>29</td><td>2</td><td>26</td><td>-</td><td>-</td><td>16</td></tr><tr><td>December</td><td>1,847</td><td>976</td><td>494</td><td>256</td><td>121</td><td>12</td><td>3</td><td>16</td><td>29</td><td>2</td><td>36</td><td>-</td><td>-</td><td>23</td></tr><tr><td>1942-January</td><td>2,101</td><td>1,088</td><td>518</td><td>368</td><td>126</td><td>11</td><td>2</td><td>16</td><td>27</td><td>2</td><td>50</td><td>-</td><td>-</td><td>18</td></tr><tr><td>February</td><td>2,201</td><td>1,099</td><td>531</td><td>432</td><td>140</td><td>13</td><td>8</td><td>14</td><td>19</td><td>3</td><td>61</td><td>2</td><td>-</td><td>21</td></tr><tr><td>March</td><td>2,797</td><td>1,131</td><td>867</td><td>573</td><td>227</td><td>13</td><td>7</td><td>13</td><td>18</td><td>3</td><td>81</td><td>12</td><td>-</td><td>81</td></tr><tr><td>April</td><td>3,231</td><td>1,284</td><td>1,020</td><td>525</td><td>402</td><td>11</td><td>13</td><td>19</td><td>21</td><td>3</td><td>87</td><td>27</td><td>200</td><td>21</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ War public housing functions were transferred from the Federal Works Agency to the National Housing Agency pursuant to Executive Order 9070, and expenditures have been revised accordingly.
2/ Includes emergency ship construction, beginning in the month of March 1941.
3/ The classifications in this column begin in the fiscal year 1941; similar items for previous periods are classified under Other departmental and Other general expenditures in Table 3. Includes the Civil Aeronautics Administration and the Panama Canal.
7
Budget Receipts and Expenditures - (Continued)
Table 5.- Analysis of Expenditures for (1) Revolving Funds and (2) Transfers to Trust Accounts, Etc.
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Revolving funds (net) 1/</th><th colspan="5">Transfers to trust accounts, etc.</th></tr><tr><th>Total</th><th>Aid to agriculture 2/</th><th>Public works 3/</th><th>Total</th><th>Adjusted Service Certificate Fund 4/</th><th>Social Security program 5/</th><th>Government employees' retirement funds (U. S. share)</th><th>Agricultural Marketing Administration (surplus commodity stamps)</th></tr><tr><td>1933</td><td>74</td><td>74</td><td>-</td><td>121</td><td>100</td><td>-</td><td>21</td><td>-</td></tr><tr><td>1934</td><td>496</td><td>346</td><td>149</td><td>71</td><td>50</td><td>-</td><td>21</td><td>-</td></tr><tr><td>1935</td><td>345</td><td>141</td><td>204</td><td>71</td><td>50</td><td>-</td><td>21</td><td>-</td></tr><tr><td>1936</td><td>11</td><td>-33</td><td>44</td><td>1,614</td><td>1,773</td><td>-</td><td>41</td><td>-</td></tr><tr><td>1937</td><td>204</td><td>-18</td><td>221</td><td>603</td><td>557</td><td>-</td><td>47</td><td>-</td></tr><tr><td>1938</td><td>121</td><td>-13</td><td>134</td><td>220</td><td>-</td><td>146</td><td>73</td><td>-</td></tr><tr><td>1939</td><td>92</td><td>-8</td><td>101</td><td>182</td><td>-</td><td>107</td><td>75</td><td>18</td></tr><tr><td>1940</td><td>94</td><td>-6</td><td>99</td><td>226</td><td>-</td><td>121</td><td>87</td><td>-</td></tr><tr><td>1941</td><td>-136</td><td>-159 6/</td><td>23</td><td>325</td><td>10</td><td>132</td><td>93</td><td>91</td></tr><tr><td>1941-April</td><td>2</td><td>*</td><td>2</td><td>28</td><td>10</td><td>8</td><td>-</td><td>10</td></tr><tr><td>May</td><td>-97</td><td>-100</td><td>3</td><td>12</td><td>-</td><td>-</td><td>-</td><td>12</td></tr><tr><td>June</td><td>-1</td><td>*</td><td>-1</td><td>10</td><td>-</td><td>-</td><td>-</td><td>10</td></tr><tr><td>July</td><td>2</td><td>*</td><td>2</td><td>169</td><td>-</td><td>50</td><td>103</td><td>15</td></tr><tr><td>August</td><td>3</td><td>*</td><td>3</td><td>14</td><td>-</td><td>*</td><td>-</td><td>14</td></tr><tr><td>September</td><td>2</td><td>*</td><td>2</td><td>6</td><td>-</td><td>-</td><td>-</td><td>6</td></tr><tr><td>October</td><td>15</td><td>15</td><td>1</td><td>45</td><td>-</td><td>32</td><td>-</td><td>14</td></tr><tr><td>November</td><td>-1</td><td>-1</td><td>*</td><td>10</td><td>-</td><td>-</td><td>-</td><td>10</td></tr><tr><td>December</td><td>*</td><td>-2</td><td>2</td><td>9</td><td>-</td><td>-</td><td>-</td><td>9</td></tr><tr><td>1942-January</td><td>-2</td><td>-2</td><td>*</td><td>42</td><td>-</td><td>32</td><td>-</td><td>10</td></tr><tr><td>February</td><td>*</td><td>-1</td><td>*</td><td>9</td><td>-</td><td>-</td><td>-</td><td>9</td></tr><tr><td>March</td><td>-1</td><td>-1</td><td>*</td><td>22</td><td>-</td><td>-</td><td>-</td><td>22</td></tr><tr><td>April</td><td>-1</td><td>*</td><td>*</td><td>48</td><td>-</td><td>32</td><td>-</td><td>17</td></tr></table>
Source: Daily Treasury Statements. * Less than $500,000. 1/ Additional transactions on Aid to agriculture and Public works are shown in Table 3. 2/ Farm Credit Administration. 3/ Public Works Administration. 4/ Administered by the Veterans' Administration.
5/ Includes railroad retirement and railroad unemployment activities. For further explanations see tables which follow on Social Security program.
6/ Reflects reductions of expenditures through recoveries of investments in capital funds of Governmental agencies aggregating $155 millions.
Table 6.- Totals by Months, Beginning with 1933
(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><b>Net receipts 1/</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>1933</td><td>116</td><td>112</td><td>272</td><td>114</td><td>157</td><td>286</td><td>163</td><td>188</td><td>321</td><td>256</td><td>209</td><td>332</td><td>2,526</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>494</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>239</td><td>230</td><td>967</td><td>318</td><td>290</td><td>828</td><td>367</td><td>412</td><td>747</td><td>292</td><td>286</td><td>823</td><td>5,798</td></tr><tr><td>1938</td><td>294</td><td>308</td><td>916</td><td>262</td><td>373</td><td>774</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,650</td></tr><tr><td>1939</td><td>271</td><td>367</td><td>687</td><td>213</td><td>347</td><td>557</td><td>265</td><td>372</td><td>676</td><td>279</td><td>364</td><td>521</td><td>4,918</td></tr><tr><td>1940</td><td>315</td><td>444</td><td>799</td><td>304</td><td>400</td><td>649</td><td>331</td><td>447</td><td>711</td><td>333</td><td>362</td><td>740</td><td>5,834</td></tr><tr><td>1941</td><td>340</td><td>541</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>413</td><td>397</td><td>1,135</td><td>445</td><td>564</td><td>1,212</td><td>8,049</td></tr><tr><td>1942</td><td>578</td><td>758</td><td>3,547</td><td>699</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Total expenditures 2/</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>1933</td><td>272</td><td>246</td><td>341</td><td>415</td><td>323</td><td>450</td><td>301</td><td>292</td><td>342</td><td>537</td><td>361</td><td>507</td><td>4,389</td></tr><tr><td>1934</td><td>695</td><td>634</td><td>573</td><td>643</td><td>484</td><td>643</td><td>611</td><td>561</td><td>594</td><td>701</td><td>599</td><td>636</td><td>7,264</td></tr><tr><td>1935</td><td>482</td><td>528</td><td>570</td><td>599</td><td>527</td><td>693</td><td>561</td><td>424</td><td>570</td><td>532</td><td>489</td><td>607</td><td>6,682</td></tr><tr><td>1936</td><td>521</td><td>480</td><td>636</td><td>631</td><td>686</td><td>2,427</td><td>696</td><td>574</td><td>676</td><td>677</td><td>594</td><td>716</td><td>9,244</td></tr><tr><td>1937</td><td>539</td><td>546</td><td>766</td><td>695</td><td>514</td><td>1,253</td><td>635</td><td>517</td><td>632</td><td>565</td><td>457</td><td>635</td><td>7,754</td></tr><tr><td>1938</td><td>492</td><td>474</td><td>705</td><td>631</td><td>566</td><td>930</td><td>785</td><td>645</td><td>718</td><td>737</td><td>646</td><td>830</td><td>8,097</td></tr><tr><td>1939</td><td>656</td><td>612</td><td>820</td><td>730</td><td>694</td><td>895</td><td>764</td><td>774</td><td>741</td><td>721</td><td>648</td><td>832</td><td>8,885</td></tr><tr><td>1940</td><td>712</td><td>668</td><td>822</td><td>783</td><td>647</td><td>857</td><td>818</td><td>706</td><td>759</td><td>869</td><td>817</td><td>1,172</td><td>9,657</td></tr><tr><td>1941</td><td>1,111</td><td>1,075</td><td>1,399</td><td>1,315</td><td>1,141</td><td>1,528</td><td>1,998</td><td>1,529</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,942</td><td>19,053</td></tr><tr><td>1942</td><td>2,628</td><td>2,629</td><td>3,421</td><td>3,753</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Net budget deficit 3/</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>1933</td><td>156</td><td>134</td><td>69</td><td>301</td><td>166</td><td>164</td><td>138</td><td>104</td><td>21</td><td>281</td><td>192</td><td>175</td><td>1,863</td></tr><tr><td>1934</td><td>464</td><td>428</td><td>153</td><td>461</td><td>247</td><td>292</td><td>393</td><td>275</td><td>95</td><td>441</td><td>312</td><td>251</td><td>3,792</td></tr><tr><td>1935</td><td>279</td><td>314</td><td>-31</td><td>371</td><td>281</td><td>230</td><td>282</td><td>125</td><td>149</td><td>397</td><td>255</td><td>173</td><td>2,825</td></tr><tr><td>1936</td><td>293</td><td>262</td><td>-116</td><td>400</td><td>430</td><td>1,898</td><td>362</td><td>231</td><td>177</td><td>405</td><td>331</td><td>199</td><td>4,672</td></tr><tr><td>1937</td><td>300</td><td>316</td><td>-200</td><td>377</td><td>224</td><td>426</td><td>268</td><td>105</td><td>-115</td><td>273</td><td>171</td><td>-188</td><td>1,956</td></tr><tr><td>1938</td><td>198</td><td>166</td><td>-212</td><td>369</td><td>193</td><td>156</td><td>451</td><td>195</td><td>40</td><td>437</td><td>296</td><td>157</td><td>2,147</td></tr><tr><td>1939</td><td>385</td><td>245</td><td>132</td><td>517</td><td>348</td><td>339</td><td>499</td><td>402</td><td>65</td><td>442</td><td>284</td><td>311</td><td>3,967</td></tr><tr><td>1940</td><td>398</td><td>224</td><td>22</td><td>479</td><td>247</td><td>237</td><td>487</td><td>258</td><td>48</td><td>536</td><td>455</td><td>432</td><td>3,823</td></tr><tr><td>1941</td><td>771</td><td>534</td><td>-167</td><td>750</td><td>747</td><td>252</td><td>1,185</td><td>1,133</td><td>739</td><td>1,637</td><td>1,294</td><td>1,329</td><td>10,204</td></tr><tr><td>1942</td><td>2,090</td><td>1,871</td><td>-126</td><td>3,058</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statements. 1/ Total receipts less net amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund.
2/ Includes public debt retirements. 3/ Total expenditures less net receipts.
8
BUDGET RECEIPTS AND EXPENDITURES
9
Receipts and Expenditures for Trust Accounts, Increment on Gold, Etc.
Table 1. Trust Funds
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust funds, net receipts (+) or net expenditures (-)</th><th colspan="3">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="3">Unemployment Trust Fund</th><th colspan="3">Railroad Retirement Account</th><th colspan="3">Other trust accounts 1/</th></tr><tr><th></th><th></th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th></tr><tr><td>1933</td><td>-5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-5</td><td>280</td><td>285</td></tr><tr><td>1934</td><td>+24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+24</td><td>233</td><td>210</td></tr><tr><td>1935</td><td>+64</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+64</td><td>301</td><td>237</td></tr><tr><td>1936</td><td>+34</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19</td><td>19</td><td>-</td><td>-</td><td>-</td><td>+34</td><td>2,053</td><td>2,020</td></tr><tr><td>1937</td><td>+19</td><td>-</td><td>267</td><td>267</td><td>-</td><td>294</td><td>294</td><td>-</td><td>-</td><td>-</td><td>+20</td><td>858</td><td>838</td></tr><tr><td>1938</td><td>+11</td><td>+1</td><td>402</td><td>401</td><td>+12</td><td>163</td><td>151</td><td>+2</td><td>148</td><td>146</td><td>-4</td><td>323</td><td>327</td></tr><tr><td>1939</td><td>+29</td><td>+1</td><td>530</td><td>529</td><td>+1</td><td>838</td><td>837</td><td>+2</td><td>109</td><td>107</td><td>+24</td><td>349</td><td>325</td></tr><tr><td>1940</td><td>+37</td><td>+3</td><td>580</td><td>577</td><td>+1</td><td>959</td><td>957</td><td>-2</td><td>123</td><td>125</td><td>+35</td><td>366</td><td>331</td></tr><tr><td>1941</td><td>+37</td><td>+10</td><td>717</td><td>707</td><td>-4</td><td>1,114</td><td>1,118</td><td>+11</td><td>127</td><td>116</td><td>+20</td><td>409</td><td>383</td></tr><tr><td>1941-April</td><td>+36</td><td>+41</td><td>37</td><td>-3</td><td>-6</td><td>69</td><td>75</td><td>-2</td><td>8</td><td>10</td><td>+3</td><td>38</td><td>35</td></tr><tr><td>May</td><td>+136</td><td>+146</td><td>148</td><td>2</td><td>*</td><td>167</td><td>167</td><td>-9</td><td>*</td><td>9</td><td>+1</td><td>23</td><td>22</td></tr><tr><td>June</td><td>-185</td><td>-186</td><td>56</td><td>241</td><td>+1</td><td>51</td><td>49</td><td>+2</td><td>2</td><td>*</td><td>-2</td><td>66</td><td>68</td></tr><tr><td>July</td><td>+41</td><td>+45</td><td>43</td><td>-3</td><td>-7</td><td>82</td><td>89</td><td>+2</td><td>46</td><td>44</td><td>+1</td><td>127</td><td>126</td></tr><tr><td>August</td><td>+160</td><td>+159</td><td>157</td><td>-2</td><td>+5</td><td>176</td><td>171</td><td>-4</td><td>*</td><td>4</td><td>*</td><td>20</td><td>19</td></tr><tr><td>September</td><td>-196</td><td>-202</td><td>1</td><td>203</td><td>-*</td><td>24</td><td>24</td><td>+1</td><td>*</td><td>*</td><td>+6</td><td>28</td><td>21</td></tr><tr><td>October</td><td>+47</td><td>+45</td><td>44</td><td>-2</td><td>-5</td><td>74</td><td>79</td><td>*</td><td>32</td><td>32</td><td>+7</td><td>31</td><td>23</td></tr><tr><td>November</td><td>+172</td><td>+168</td><td>166</td><td>-2</td><td>+3</td><td>192</td><td>189</td><td>*</td><td>*</td><td>*</td><td>*</td><td>18</td><td>14</td></tr><tr><td>December</td><td>-189</td><td>-207</td><td>2</td><td>209</td><td>+6</td><td>60</td><td>55</td><td>*</td><td>*</td><td>*</td><td>+12</td><td>27</td><td>15</td></tr><tr><td>1942-January</td><td>+30</td><td>+37</td><td>37</td><td>-1</td><td>-8</td><td>75</td><td>83</td><td>*</td><td>32</td><td>31</td><td>+1</td><td>28</td><td>28</td></tr><tr><td>February</td><td>+147</td><td>+135</td><td>179</td><td>44</td><td>+12</td><td>203</td><td>191</td><td>*</td><td>*</td><td>*</td><td>-1</td><td>22</td><td>23</td></tr><tr><td>March</td><td>-172</td><td>-171</td><td>1</td><td>173</td><td>-4</td><td>29</td><td>33</td><td>*</td><td>*</td><td>*</td><td>+3</td><td>42</td><td>39</td></tr><tr><td>April</td><td>+47</td><td>+37</td><td>37</td><td>*</td><td>+1</td><td>43</td><td>42</td><td>*</td><td>32</td><td>32</td><td>+9</td><td>38</td><td>29</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 1/ Includes Government insurance and retirement funds, etc.
Table 2.- Other Funds
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Transactions in checking accounts of Government agencies, etc.</th><th colspan="3">Increment on gold</th><th colspan="3">Seigniorage on silver</th><th colspan="3">Miscellaneous funds and accounts 2/</th></tr><tr><th></th><th>Total all transactions</th><th>Issuance of obligations 1/</th><th>Other transactions</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th></tr><tr><td>1933</td><td>-518</td><td>3/</td><td>3/</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>-734</td><td>3/</td><td>3/</td><td>+811</td><td>2,811</td><td>2,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>+637</td><td>3/</td><td>3/</td><td>-111</td><td>2</td><td>113</td><td>+140</td><td>140</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>+108</td><td>3/</td><td>3/</td><td>-403</td><td>1</td><td>404</td><td>+176</td><td>176</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+314</td><td>3/</td><td>3/</td><td>-99</td><td>2</td><td>101</td><td>+40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+204</td><td>3/</td><td>3/</td><td>-51</td><td>1</td><td>52</td><td>+90</td><td>90</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>+768</td><td>+1,106</td><td>-337</td><td>-5</td><td>*</td><td>5</td><td>+49</td><td>49</td><td>-</td><td>+16</td><td>43</td><td>27</td></tr><tr><td>1940</td><td>+34</td><td>+288</td><td>-254</td><td>*</td><td>*</td><td>*</td><td>+20</td><td>20</td><td>-</td><td>+11</td><td>244</td><td>233</td></tr><tr><td>1941</td><td>-217</td><td>+852</td><td>-1,069</td><td>*</td><td>*</td><td>*</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-April</td><td>+361</td><td>+629</td><td>-268</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+5</td><td>27</td><td>22</td></tr><tr><td>May</td><td>+111</td><td>-192</td><td>-219</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+9</td><td>31</td><td>22</td></tr><tr><td>June</td><td>-80</td><td>-*</td><td>-80</td><td>*</td><td>*</td><td>-</td><td>+2</td><td>2</td><td>-</td><td>+3</td><td>28</td><td>24</td></tr><tr><td>July</td><td>+534</td><td>+569</td><td>-35</td><td>*</td><td>*</td><td>-</td><td>+2</td><td>2</td><td>-</td><td>+21</td><td>33</td><td>12</td></tr><tr><td>August</td><td>-169</td><td>-3</td><td>-166</td><td>*</td><td>*</td><td>-</td><td>+2</td><td>2</td><td>-</td><td>+5</td><td>31</td><td>27</td></tr><tr><td>September</td><td>-93</td><td>*</td><td>-93</td><td>*</td><td>*</td><td>-</td><td>+2</td><td>2</td><td>-</td><td>-6</td><td>23</td><td>29</td></tr><tr><td>October</td><td>-272</td><td>-1</td><td>-270</td><td>*</td><td>*</td><td>-</td><td>+2</td><td>2</td><td>-</td><td>-3</td><td>30</td><td>33</td></tr><tr><td>November</td><td>-659</td><td>-617</td><td>-42</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+2</td><td>26</td><td>24</td></tr><tr><td>December</td><td>-140</td><td>+9</td><td>-149</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>*</td><td>27</td><td>27</td></tr><tr><td>1942-January</td><td>-681</td><td>-625</td><td>-56</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+16</td><td>28</td><td>12</td></tr><tr><td>February</td><td>-35</td><td>-23</td><td>-12</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+1</td><td>27</td><td>26</td></tr><tr><td>March</td><td>-75</td><td>+17</td><td>-92</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+12</td><td>41</td><td>29</td></tr><tr><td>April</td><td>-189</td><td>-12</td><td>-176</td><td>*</td><td>*</td><td>-</td><td>+1</td><td>1</td><td>-</td><td>+15</td><td>34</td><td>19</td></tr></table>
Source: Daily Treasury Statements. * Less than $500,000. 1/ Net receipts in this column constitute net sales, and net expenditures constitute net redemptions of obligations.
2/ Comprises PMA revolving fund, and special deposits (net). Also includes Agricultural Marketing Administration commodity food stamp transactions. 3/ Details not available.
10
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="4">Means of financing</th></tr><tr><th></th><th>Total amount required to be financed</th><th>Net budget deficit 1/</th><th>Net increase in General Fund balance</th><th>Net expenditures in trust accounts, increment on gold, etc. 2/</th><th>Total amount financed</th><th>Increase in public debt</th><th>Net decrease in General Fund balance</th><th>Net receipts in trust accounts, increment on gold, etc. 2/</th></tr><tr><td>1933</td><td>3,052</td><td>1,764</td><td>445</td><td>823</td><td>3,052</td><td>3,052</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>4,616</td><td>2,856</td><td>1,720</td><td>-</td><td>4,616</td><td>4,514</td><td>-</td><td>101</td></tr><tr><td>1935</td><td>3,209</td><td>3,209</td><td>-</td><td>-</td><td>3,209</td><td>1,048</td><td>741</td><td>521</td></tr><tr><td>1936</td><td>5,390</td><td>4,550</td><td>840</td><td>-</td><td>5,390</td><td>5,078</td><td>-</td><td>312</td></tr><tr><td>1937</td><td>3,149</td><td>3,149</td><td>-</td><td>-</td><td>3,149</td><td>2,046</td><td>128</td><td>374</td></tr><tr><td>1938</td><td>1,384</td><td>1,384</td><td>-</td><td>-</td><td>1,384</td><td>740</td><td>338</td><td>306</td></tr><tr><td>1939</td><td>4,164</td><td>3,562</td><td>622</td><td>-</td><td>4,164</td><td>3,275</td><td>-</td><td>890</td></tr><tr><td>1940</td><td>3,611</td><td>3,611</td><td>-</td><td>-</td><td>3,611</td><td>2,528</td><td>947</td><td>136</td></tr><tr><td>1941</td><td>5,994</td><td>5,103</td><td>742</td><td>148</td><td>5,994</td><td>5,994</td><td>-</td><td>-</td></tr><tr><td>1941-April</td><td>750</td><td>750</td><td>-</td><td>-</td><td>750</td><td>58</td><td>290</td><td>403</td></tr><tr><td>May</td><td>1,011</td><td>747</td><td>-</td><td>264</td><td>1,011</td><td>490</td><td>521</td><td>-</td></tr><tr><td>June</td><td>1,241</td><td>252</td><td>729</td><td>259</td><td>1,241</td><td>1,241</td><td>-</td><td>-</td></tr><tr><td>July</td><td>1,185</td><td>1,185</td><td>-</td><td>-</td><td>1,185</td><td>551</td><td>34</td><td>599</td></tr><tr><td>August</td><td>1,405</td><td>1,133</td><td>274</td><td>2</td><td>1,408</td><td>1,402</td><td>-</td><td>-</td></tr><tr><td>September</td><td>1,033</td><td>739</td><td>-</td><td>293</td><td>1,033</td><td>425</td><td>607</td><td>-</td></tr><tr><td>October</td><td>2,238</td><td>1,637</td><td>376</td><td>225</td><td>2,233</td><td>2,238</td><td>-</td><td>-</td></tr><tr><td>November</td><td>1,778</td><td>1,294</td><td>-</td><td>484</td><td>1,778</td><td>1,456</td><td>322</td><td>-</td></tr><tr><td>December</td><td>2,898</td><td>1,329</td><td>1,241</td><td>328</td><td>2,898</td><td>2,898</td><td>-</td><td>-</td></tr><tr><td>1942-January</td><td>2,683</td><td>2,050</td><td>-</td><td>533</td><td>2,683</td><td>2,073</td><td>610</td><td>-</td></tr><tr><td>February</td><td>2,482</td><td>1,871</td><td>612</td><td>-</td><td>2,482</td><td>2,369</td><td>-</td><td>114</td></tr><tr><td>March</td><td>108</td><td>-126 3/</td><td>-</td><td>234</td><td>108</td><td>39</td><td>69</td><td>-</td></tr><tr><td>April</td><td>3,164</td><td>3,058</td><td>-</td><td>126</td><td>3,184</td><td>2,542</td><td>642</td><td>-</td></tr></table>
Sources: Daily Treasury Statements 1/ Excludes public debt retirements.
2/ Comprises trust accounts, checking accounts of Government agencies, etc., increment on gold, seignorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
3/ Net budget surplus.
11
Social Security Program
Section I.- Budget Receipts and Expenditures
Table 1.- Social Security Act
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Groes receipts</th><th rowspan="2">Less amount credited to Federal Old-Age and Survivors Insurance Trust Fund 2/</th><th rowspan="2">Net receipts</th></tr><tr><th>Total</th><th>Federal Insurance Contributions Act (Old-age insurance) 1/</th><th>Federal Unemployment Tax Act (Unemployment insurance) 2/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>252.2</td><td>194.3</td><td>57.8</td><td>265.0</td><td>-12.8</td></tr><tr><td>1938</td><td>604.4</td><td>514.4</td><td>90.1</td><td>387.0</td><td>217.4</td></tr><tr><td>1939</td><td>631.2</td><td>530.4</td><td>100.9</td><td>503.0</td><td>128.2</td></tr><tr><td>1940</td><td>712.2</td><td>604.7</td><td>107.5</td><td>537.7</td><td>174.5</td></tr><tr><td>1941</td><td>783.2</td><td>690.6</td><td>97.7</td><td>661.3</td><td>126.9</td></tr><tr><td>1941-April</td><td>41.7</td><td>39.2</td><td>2.4</td><td>37.0</td><td>4.7</td></tr><tr><td>May</td><td>157.1</td><td>149.7</td><td>7.5</td><td>147.5</td><td>9.6</td></tr><tr><td>June</td><td>4.1</td><td>3.3</td><td>.8</td><td>1.1</td><td>3.0</td></tr><tr><td>July</td><td>47.0</td><td>44.8</td><td>2.2</td><td>42.6</td><td>4.4</td></tr><tr><td>August</td><td>167.0</td><td>159.5</td><td>7.5</td><td>157.3</td><td>9.7</td></tr><tr><td>September</td><td>4.3</td><td>3.4</td><td>.9</td><td>1.2</td><td>3.1</td></tr><tr><td>October</td><td>47.8</td><td>45.7</td><td>2.2</td><td>43.5</td><td>4.4</td></tr><tr><td>November</td><td>175.3</td><td>168.5</td><td>6.8</td><td>166.2</td><td>9.1</td></tr><tr><td>December</td><td>5.6</td><td>4.3</td><td>1.3</td><td>2.1</td><td>3.5</td></tr><tr><td>1942-January</td><td>51.3</td><td>38.6</td><td>12.7</td><td>36.4</td><td>14.9</td></tr><tr><td>February</td><td>252.7</td><td>181.4</td><td>71.3</td><td>179.3</td><td>73.4</td></tr><tr><td>March</td><td>4.8</td><td>2.8</td><td>2.0</td><td>.6</td><td>4.1</td></tr><tr><td>April</td><td>42.0</td><td>39.2</td><td>2.9</td><td>36.8</td><td>5.2</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th colspan="8">Expenditures</th><th rowspan="2">Refund of taxes</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Total</th><th colspan="3">Social Security Board</th><th colspan="2">Public Health Service</th><th colspan="3">Department of Labor</th></tr><tr><th></th><th></th><th></th><th>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Unemployment compensation administration</th><th>Public health work</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare services</th><th></th><th></th></tr><tr><td>1936</td><td>28.4</td><td>.6</td><td>27.8</td><td>19.7</td><td>2.0</td><td>1.0</td><td>.9</td><td>2.4</td><td>1.0</td><td>.6</td><td>.2</td><td>-</td><td>28.4</td></tr><tr><td>1937</td><td>182.7</td><td>15.8</td><td>166.9</td><td>124.8</td><td>14.3</td><td>4.6</td><td>9.1</td><td>7.8</td><td>3.1</td><td>2.1</td><td>1.0</td><td>-</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>41.0</td><td>6/</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>1.8</td><td></td><td>215.1</td></tr><tr><td>1940</td><td>384.2</td><td>25.3</td><td>356.5</td><td>227.6</td><td>45.4</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.3</td><td>1.5</td><td>2.5</td><td></td><td>209.7</td></tr><tr><td>1941</td><td>449.4</td><td>31.5</td><td>415.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>2.6</td><td></td><td>322.5</td></tr><tr><td>1941-April</td><td>49.4</td><td>2.6</td><td>46.5</td><td>22.4</td><td>6.1</td><td>.7</td><td>12.5</td><td>2.9</td><td>1.0</td><td>.5</td><td>.3</td><td>.3</td><td></td><td>44.7</td></tr><tr><td>May</td><td>34.9</td><td>2.6</td><td>32.0</td><td>21.9</td><td>6.9</td><td>.6</td><td>1.6</td><td>.1</td><td>.3</td><td>.5</td><td>*</td><td>.3</td><td></td><td>25.3</td></tr><tr><td>June</td><td>16.9</td><td>2.6</td><td>14.0</td><td>10.6</td><td>2.0</td><td>.1</td><td>1.2</td><td>*</td><td>*</td><td>.1</td><td>-</td><td>.3</td><td></td><td>13.9</td></tr><tr><td>July</td><td>59.9</td><td>2.8</td><td>57.0</td><td>33.4</td><td>6.9</td><td>.9</td><td>13.1</td><td>2.6</td><td>*</td><td>*</td><td>.1</td><td>.2</td><td></td><td>55.5</td></tr><tr><td>August</td><td>43.1</td><td>2.6</td><td>40.1</td><td>26.0</td><td>7.9</td><td>.8</td><td>3.9</td><td>.1</td><td>.9</td><td>.3</td><td>.3</td><td>.3</td><td></td><td>33.4</td></tr><tr><td>September</td><td>33.1</td><td>2.7</td><td>30.3</td><td>20.2</td><td>4.4</td><td>.4</td><td>4.1</td><td>.1</td><td>.4</td><td>.6</td><td>.1</td><td>.2</td><td>-</td><td>30.0</td></tr><tr><td>October</td><td>55.8</td><td>2.5</td><td>53.1</td><td>30.1</td><td>7.6</td><td>1.0</td><td>11.2</td><td>2.1</td><td>.6</td><td>.3</td><td>.3</td><td>.2</td><td></td><td>51.4</td></tr><tr><td>November</td><td>40.4</td><td>2.5</td><td>37.6</td><td>27.1</td><td>6.7</td><td>.7</td><td>1.2</td><td>.7</td><td>.7</td><td>.5</td><td>.1</td><td>.3</td><td></td><td>31.3</td></tr><tr><td>December</td><td>33.4</td><td>2.6</td><td>30.6</td><td>24.8</td><td>3.4</td><td>.4</td><td>1.3</td><td>.1</td><td>.4</td><td>.1</td><td>.1</td><td>.2</td><td></td><td>29.9</td></tr><tr><td>1942-January</td><td>55.8</td><td>2.8</td><td>52.8</td><td>28.9</td><td>7.9</td><td>.8</td><td>10.7</td><td>2.7</td><td>.9</td><td>.6</td><td>.3</td><td>.2</td><td></td><td>40.9</td></tr><tr><td>February</td><td>37.1</td><td>2.6</td><td>34.1</td><td>23.0</td><td>5.6</td><td>.6</td><td>4.1</td><td>*</td><td>.4</td><td>.4</td><td>*</td><td>.3</td><td></td><td>-36.4</td></tr><tr><td>March</td><td>31.7</td><td>2.8</td><td>28.6</td><td>19.9</td><td>4.2</td><td>.6</td><td>3.6</td><td>.1</td><td>.1</td><td>.1</td><td>*</td><td>.3</td><td></td><td>27.6</td></tr><tr><td>April</td><td>49.5</td><td>2.5</td><td>46.6</td><td>28.8</td><td>7.7</td><td>.9</td><td>4.4</td><td>2.9</td><td>.8</td><td>.8</td><td>.4</td><td>.4</td><td></td><td>44.2</td></tr></table>
Source: Daily Treasury Statements.
Less than $50,000.
1/ Formerly Title VIII of the Social Security Act.
2/ Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See Table 3 of Section I).
3/ Prior to January 1, 1940, figures represent amounts transferred to the Old-Age Reserve Account. From January 1 to July 1, 1940 "transfers" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury and "appropriated" directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to cover administrative expenses, which are shown as expenditures in Section II, Table I.
includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency. Covered by appropriations by Congress. Second Deficiency Appropriation Act, fiscal year 1938, approved June 25, 1938, carried an appropriation of $40,561,886.43 for making refund to certain States of portions of Federal employers' tax for 1936 collected under the Social Security Act.
12
Social Security Program -
Continued
Section I.- Budget Receipts and Expenditures - (Continued
Table 2.- Railroad Retirement Act
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Receipts</th><th colspan="4">Expenditures</th><th rowspan="2">Excess of expenditures 2/</th></tr><tr><th>Carriers' Taxing Act of 1937</th><th>Total</th><th>Administrative expenses 1/</th><th>Transfers to Railroad Retirement Account (trust account)</th><th>Refunds of taxes</th></tr><tr><td>1936</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>1.5</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>1938</td><td>150.1</td><td>149.0</td><td>2.6</td><td>146.4</td><td>.1</td><td>-1.1</td></tr><tr><td>1939</td><td>109.3</td><td>110.0</td><td>2.9</td><td>107.1</td><td>.1</td><td>.7</td></tr><tr><td>1940</td><td>121.0</td><td>123.3</td><td>2.6</td><td>120.7</td><td>*</td><td>2.3</td></tr><tr><td>1941</td><td>135.9</td><td>128.2</td><td>3.8</td><td>124.4</td><td>.1</td><td>-8.7</td></tr><tr><td>1941-April</td><td>1.4</td><td>8.8</td><td>.4</td><td>8.4</td><td>*</td><td>7.3</td></tr><tr><td>May</td><td>8.0</td><td>.6</td><td>.6</td><td>-</td><td>*</td><td>-7.4</td></tr><tr><td>June</td><td>26.1</td><td>.7</td><td>.7</td><td>-</td><td>*</td><td>-25.4</td></tr><tr><td>July</td><td>.9</td><td>46.9</td><td>.5</td><td>46.4</td><td>*</td><td>46.0</td></tr><tr><td>August</td><td>5.6</td><td>.8</td><td>.8</td><td>-</td><td>*</td><td>-4.8</td></tr><tr><td>September</td><td>31.1</td><td>.5</td><td>.5</td><td>-</td><td>*</td><td>-30.6</td></tr><tr><td>October</td><td>1.1</td><td>32.2</td><td>.7</td><td>31.5</td><td>*</td><td>31.1</td></tr><tr><td>November</td><td>5.2</td><td>.8</td><td>.8</td><td>-</td><td>*</td><td>-4.4</td></tr><tr><td>December</td><td>33.9</td><td>.8</td><td>.8</td><td>-</td><td>*</td><td>-33.1</td></tr><tr><td>1942-January</td><td>1.3</td><td>32.0</td><td>.5</td><td>31.5</td><td>*</td><td>30.7</td></tr><tr><td>February</td><td>4.2</td><td>.7</td><td>.7</td><td>-</td><td>*</td><td>-3.5</td></tr><tr><td>March</td><td>41.6</td><td>.7</td><td>.7</td><td>-</td><td>*</td><td>-40.9</td></tr><tr><td>April</td><td>1.2</td><td>32.1</td><td>.6</td><td>31.5</td><td>*</td><td>30.9</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000. 1/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad Retirement Act.
2/ Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(in millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Receipts</th><th colspan="2">Expenditures</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Railroad unemployment insurance contributions 2/</th><th>Total</th><th>Administrative expenses (Railroad Unemployment Insurance Administration Fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>3/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>3/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>4/</td><td>.5</td><td>.5</td><td>-</td><td>.5</td></tr><tr><td>1940</td><td>6.8</td><td>10.9</td><td>5.0</td><td>7.5</td><td>4.1</td></tr><tr><td>1941</td><td>-</td><td>-</td><td>3.4</td><td>-</td><td>-</td></tr><tr><td>1941-April</td><td>4</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>May</td><td>.1</td><td>.4</td><td>.4</td><td>-</td><td>.3</td></tr><tr><td>June</td><td>1.6</td><td>.3</td><td>.3</td><td>-</td><td>-1.3</td></tr><tr><td>July</td><td>-</td><td>4.1</td><td>.2</td><td>3.9</td><td>4.1</td></tr><tr><td>August</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>.2</td></tr><tr><td>September</td><td>1.8</td><td>.2</td><td>.2</td><td>-</td><td>-1.6</td></tr><tr><td>October</td><td>-</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>November</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>December</td><td>1.9</td><td>.2</td><td>.2</td><td>-</td><td>-1.7</td></tr><tr><td>1942-January</td><td>4</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>February</td><td>.1</td><td>.3</td><td>.3</td><td>-</td><td>.2</td></tr><tr><td>March</td><td>2.2</td><td>.2</td><td>.2</td><td>-</td><td>-2.0</td></tr><tr><td>April</td><td>-</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr></table>
Source: Daily Treasury Statements.
Less than $50,000.
Operated as Railroad Unemployment Insurance Administration Fund. Represents 10% of contributions under the Railroad Unemployment Insurance Act; the remaining 90% is deposited in the Railroad Unemployment Insurance Account, Unemployment Trust Fund (See Section II, Table 3). Excludes amounts appropriated to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act, as follows (in millions): Calendar year 1936 - $2.7, 1937 - $5.3, 1938 - $6.8, and for the first six months of the calendar year 1939 - $2.9, aggregating $17.7. These amounts are included in Table 1 under Federal Unemployment Tax Act (unemployment insurance).
3/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ Covered by appropriations by Congress.
13
Social Security Program - (Continued)
Section II.- Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fund
(Cumulative from organization - in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total expenditures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expense 2/</th><th>Total investments</th><th>Unexpended balance in General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>267.3</td><td>265.0</td><td>2.3</td><td>-</td><td>-</td><td>-</td><td>267.2</td><td>267.1</td><td>.1</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>.1</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>.5</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td></tr><tr><td>1941-October</td><td>2,789.8</td><td>2,646.5</td><td>143.3</td><td>179.1</td><td>131.2</td><td>47.9</td><td>2,610.7</td><td>2,546.0</td><td>50.6</td></tr><tr><td>November</td><td>2,958.4</td><td>2,815.0</td><td>143.4</td><td>189.7</td><td>139.6</td><td>50.2</td><td>2,768.6</td><td>2,536.0</td><td>217.0</td></tr><tr><td>December</td><td>2,962.9</td><td>2,819.3</td><td>143.6</td><td>201.0</td><td>148.7</td><td>52.4</td><td>2,761.9</td><td>2,736.4</td><td>9.0</td></tr><tr><td>1942-January</td><td>3,001.7</td><td>2,857.9</td><td>143.8</td><td>212.4</td><td>157.9</td><td>54.5</td><td>2,789.3</td><td>2,726.4</td><td>45.6</td></tr><tr><td>February</td><td>3,183.3</td><td>3,039.3</td><td>144.0</td><td>224.2</td><td>167.6</td><td>56.6</td><td>2,959.1</td><td>2,761.1</td><td>180.4</td></tr><tr><td>March</td><td>3,186.6</td><td>3,042.1</td><td>144.5</td><td>236.6</td><td>177.8</td><td>58.5</td><td>2,949.9</td><td>2,923.3</td><td>9.3</td></tr><tr><td>April</td><td>3,226.0</td><td>3,081.3</td><td>144.7</td><td>249.4</td><td>188.2</td><td>61.2</td><td>2,976.6</td><td>2,913.3</td><td>46.3</td></tr></table>
Sources: Daily Treasury Statements.
* Less than $50,000.
1/ Includes transactions effected under the predecessor Old-Age Reserve Account.
2/ Under Section 201 (f) of the Social Security Act amendments of 1939.
Table 2.- Railroad Retirement Account
(Cumulative from organisation - In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="3">Receipts</th><th rowspan="2">Expenditures Benefit payments</th><th colspan="4">Balance</th></tr><tr><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total</th><th>Investments</th><th colspan="2">Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>46.6</td><td>46.6</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>.</td></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.8</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939</td><td>268.4</td><td>264.8</td><td>3.6</td><td>185.6</td><td>82.7</td><td>67.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1940</td><td>330.8</td><td>384.9</td><td>5.9</td><td>298.7</td><td>92.1</td><td>79.4</td><td>10.8</td><td>1.8</td></tr><tr><td>1941</td><td>506.9</td><td>498.5</td><td>8.4</td><td>419.9</td><td>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1941-October</td><td>648.0</td><td>639.4</td><td>8.6</td><td>461.5</td><td>186.5</td><td>112.0</td><td>63.1</td><td>11.3</td></tr><tr><td>November</td><td>648.1</td><td>639.4</td><td>8.7</td><td>471.9</td><td>176.2</td><td>101.5</td><td>63.1</td><td>11.6</td></tr><tr><td>December</td><td>648.3</td><td>639.4</td><td>8.9</td><td>482.6</td><td>165.7</td><td>90.5</td><td>63.2</td><td>12.0</td></tr><tr><td>1942-January</td><td>648.4</td><td>639.4</td><td>9.1</td><td>493.1</td><td>155.4</td><td>111.5</td><td>31.7</td><td>12.2</td></tr><tr><td>February</td><td>648.6</td><td>639.4</td><td>9.3</td><td>503.5</td><td>145.1</td><td>101.5</td><td>31.7</td><td>11.9</td></tr><tr><td>March</td><td>648.8</td><td>639.4</td><td>9.5</td><td>514.2</td><td>134.6</td><td>91.0</td><td>31.7</td><td>11.9</td></tr><tr><td>April</td><td>649.1</td><td>639.4</td><td>9.7</td><td>525.0</td><td>124.1</td><td>112.0</td><td>.2</td><td>11.8</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000.
Table 3.- Unemployment Trust Fund
(Cumulative from organization - in millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Total receipts</th><th>State unemployment insurance activities Deposits by States</th><th>Railroad unemployment insurance contributions 2/</th><th>Transfers from Railroad Unemployment Insurance Account 1/</th><th>Interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities Withdrawals by States</th><th>Transfers to Railroad Unemployment Insurance Account 3/</th><th>Railroad Unemployment Insurance Account 1/ Benefit payments</th><th>Total investments</th><th>In General Fund (Special Deposit Account)</th><th>In disbursing officer's account 5/</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18.9</td><td>18.9</td><td>-</td></tr><tr><td>1937</td><td>313.4</td><td>310.6</td><td>-</td><td>-</td><td>2.8</td><td>1.0</td><td>1.0</td><td>-</td><td>-</td><td>312.4</td><td>312.3</td><td>.1</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>-</td><td>884.2</td><td>872.0</td><td>12.2</td></tr><tr><td>1939</td><td>1,914.3</td><td>1,859.5</td><td>-</td><td>-</td><td>44.3</td><td>633.8</td><td>633.8</td><td>-</td><td>-</td><td>1,280.5</td><td>1,267.0</td><td>13.5</td></tr><tr><td>1940</td><td>2,857.9</td><td>2,729.3</td><td>44.2</td><td>1.8</td><td>82.6</td><td>1,133.1</td><td>1,116.7</td><td>1.8</td><td>14.6</td><td>1,724.9</td><td>1,710.0</td><td>13.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>105.9</td><td>7.5</td><td>1,683.2</td><td>1,550.0</td><td>105.9</td><td>32.3</td><td>2,283.7</td><td>2,273.0</td><td>8.0</td></tr><tr><td>1941-October</td><td>4,327.8</td><td>3,956.4</td><td>122.5</td><td>105.9</td><td>11.4</td><td>1,786.5</td><td>1,546.2</td><td>105.9</td><td>34.4</td><td>2,541.3</td><td>2,538.0</td><td>1.2</td></tr><tr><td>November</td><td>4,520.0</td><td>4,147.7</td><td>123.4</td><td>105.9</td><td>11.4</td><td>1,807.3</td><td>1,666.4</td><td>105.9</td><td>35.0</td><td>2,712.7</td><td>2,706.0</td><td>4.5</td></tr><tr><td>December</td><td>4,580.5</td><td>4,159.6</td><td>140.7</td><td>105.9</td><td>11.4</td><td>1,836.2</td><td>1,694.5</td><td>105.9</td><td>35.8</td><td>2,744.4</td><td>2,732.0</td><td>9.9</td></tr><tr><td>1942-January</td><td>4,655.9</td><td>4,235.1</td><td>140.8</td><td>105.9</td><td>11.4</td><td>1,880.5</td><td>1,737.6</td><td>105.9</td><td>37.0</td><td>2,775.4</td><td>2,771.0</td><td>.2</td></tr><tr><td>February</td><td>4,858.6</td><td>4,437.2</td><td>141.5</td><td>105.9</td><td>11.4</td><td>1,919.0</td><td>1,774.7</td><td>105.9</td><td>38.4</td><td>2,939.8</td><td>2,923.0</td><td>11.9</td></tr><tr><td>March</td><td>4,888.2</td><td>4,446.4</td><td>161.6</td><td>105.9</td><td>11.4</td><td>1,965.0</td><td>1,819.4</td><td>105.9</td><td>39.7</td><td>2,923.2</td><td>2,910.0</td><td>9.6</td></tr><tr><td>April</td><td>4,931.5</td><td>4,489.5</td><td>161.6</td><td>105.9</td><td>11.4</td><td>2,003.1</td><td>1,855.5</td><td>105.9</td><td>40.6</td><td>2,928.4</td><td>2,914.0</td><td>11.8</td></tr></table>
Sources: Daily Treasury Statements. 
1/ Excludes advance of $15 millions from the Treasury and subsequent repayment, both taking place in the fiscal year 1940. 
2/ Represents 90% of contributions under the Railroad Unemployment Insurance Act; the remaining 10% is used for administrative expenses. (See Section I, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939 inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
14
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th></th><th colspan="10">1941</th><th colspan="6">1942</th></tr><tr><th></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>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</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></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></tr><tr><td>Internal revenues:</td><td></td><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 and profits taxes</td><td>75</td><td>63</td><td>916</td><td>84</td><td>59</td><td>780</td><td>68</td><td>66</td><td>767</td><td>133</td><td>283</td><td>3,083</td><td>335</td></tr><tr><td>Employment taxes</td><td>43</td><td>165</td><td>30</td><td>48</td><td>173</td><td>35</td><td>49</td><td>180</td><td>39</td><td>53</td><td>257</td><td>46</td><td>43</td></tr><tr><td>Miscellaneous internal revenue</td><td>244</td><td>254</td><td>265</td><td>268</td><td>269</td><td>261</td><td>314</td><td>436</td><td>353</td><td>369</td><td>340</td><td>364</td><td>305</td></tr><tr><td>Customs</td><td>49</td><td>41</td><td>38</td><td>37</td><td>35</td><td>36</td><td>34</td><td>30</td><td>33</td><td>35</td><td>27</td><td>33</td><td>32</td></tr><tr><td>Other</td><td>16</td><td>16</td><td>19</td><td>19</td><td>17</td><td>23</td><td>23</td><td>18</td><td>22</td><td>24</td><td>31</td><td>22</td><td>16</td></tr><tr><td>Subtotal</td><td>427</td><td>541</td><td>1,268</td><td>456</td><td>552</td><td>1,136</td><td>489</td><td>730</td><td>1,214</td><td>614</td><td>937</td><td>3,548</td><td>732</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></tr><tr><td>Unemployment trust fund (deposits by States and Railroad Retirement Board)</td><td>67</td><td>167</td><td>25</td><td>78</td><td>176</td><td>24</td><td>74</td><td>192</td><td>29</td><td>75</td><td>203</td><td>29</td><td>43</td></tr><tr><td>Trust accounts 2</td><td>46</td><td>42</td><td>36</td><td>42</td><td>38</td><td>45</td><td>48</td><td>34</td><td>45</td><td>45</td><td>40</td><td>58</td><td>54</td></tr><tr><td>Subtotal</td><td>113</td><td>208</td><td>61</td><td>120</td><td>214</td><td>69</td><td>122</td><td>226</td><td>74</td><td>120</td><td>243</td><td>87</td><td>97</td></tr><tr><td>Total cash income</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>734</td><td>1,180</td><td>3,635</td><td>829</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></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></tr><tr><td>War activities</td><td>782</td><td>857</td><td>832</td><td>966</td><td>1,129</td><td>1,327</td><td>1,534</td><td>1,446</td><td>1,847</td><td>2,101</td><td>2,201</td><td>2,797</td><td>3,231</td></tr><tr><td>Veterans' Administration</td><td>46</td><td>47</td><td>45</td><td>46</td><td>46</td><td>46</td><td>48</td><td>46</td><td>46</td><td>46</td><td>45</td><td>46</td><td>46</td></tr><tr><td>Public Works 3/</td><td>46</td><td>50</td><td>52</td><td>62</td><td>66</td><td>64</td><td>68</td><td>51</td><td>60</td><td>55</td><td>44</td><td>47</td><td>54</td></tr><tr><td>Aid to agriculture 4/</td><td>85</td><td>-68</td><td>42</td><td>79</td><td>52</td><td>64</td><td>86</td><td>103</td><td>136</td><td>132</td><td>123</td><td>103</td><td>86</td></tr><tr><td>Social Security program 5/</td><td>50</td><td>36</td><td>18</td><td>61</td><td>44</td><td>34</td><td>57</td><td>41</td><td>34</td><td>56</td><td>38</td><td>33</td><td>50</td></tr><tr><td>Work Projects Administration and National Youth Administration</td><td>118</td><td>118</td><td>107</td><td>106</td><td>82</td><td>86</td><td>88</td><td>78</td><td>94</td><td>77</td><td>76</td><td>79</td><td>76</td></tr><tr><td>Civilian Conservation Corps</td><td>21</td><td>19</td><td>20</td><td>21</td><td>19</td><td>18</td><td>17</td><td>14</td><td>15</td><td>12</td><td>12</td><td>11</td><td>10</td></tr><tr><td>Interest on the public debt 6/</td><td>69</td><td>8</td><td>201</td><td>14</td><td>4</td><td>163</td><td>70</td><td>11</td><td>195</td><td>18</td><td>5</td><td>196</td><td>70</td></tr><tr><td>Other</td><td>65</td><td>58</td><td>64</td><td>64</td><td>68</td><td>58</td><td>65</td><td>55</td><td>69</td><td>75</td><td>68</td><td>78</td><td>75</td></tr><tr><td>Subtotal</td><td>1,283</td><td>1,125</td><td>1,381</td><td>1,418</td><td>1,510</td><td>1,860</td><td>2,033</td><td>1,844</td><td>2,496</td><td>2,572</td><td>2,612</td><td>3,389</td><td>3,698</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></tr><tr><td>Reconstruction Finance Corporation</td><td>61</td><td>81</td><td>77</td><td>80</td><td>162</td><td>102</td><td>276</td><td>38</td><td>142</td><td>39</td><td>139</td><td>253</td><td>208</td></tr><tr><td>Commodity Credit Corporation</td><td>33</td><td>57</td><td>-16</td><td>-10</td><td>33</td><td>15</td><td>-17</td><td>17</td><td>28</td><td>2</td><td>-34</td><td>-99</td><td>7</td></tr><tr><td>Unemployment Trust Fund</td><td>33</td><td>30</td><td>31</td><td>28</td><td>25</td><td>25</td><td>20</td><td>21</td><td>29</td><td>44</td><td>39</td><td>46</td><td>38</td></tr><tr><td>Federal Old-Age and Survivors Insurance</td><td></td><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>Trust Fund</td><td>7</td><td>7</td><td>7</td><td>7</td><td>8</td><td>8</td><td>8</td><td>8</td><td>9</td><td>9</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Railroad Retirement Account</td><td>10</td><td>11</td><td>10</td><td>10</td><td>10</td><td>10</td><td>11</td><td>10</td><td>11</td><td>10</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Other</td><td>47</td><td>122</td><td>55</td><td>-19</td><td>-1</td><td>25</td><td>107</td><td>34</td><td>62</td><td>22</td><td>48</td><td>-3</td><td>11</td></tr><tr><td>Subtotal</td><td>191</td><td>308</td><td>164</td><td>96</td><td>237</td><td>185</td><td>405</td><td>128</td><td>281</td><td>126</td><td>116</td><td>218</td><td>275</td></tr><tr><td>Redemption of adjusted service bonds</td><td>1</td><td>1</td><td>3</td><td>2</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Total cash outgo</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,516</td><td>1,748</td><td>2,046</td><td>2,439</td><td>1,973</td><td>2,778</td><td>2,699</td><td>2,729</td><td>3,608</td><td>3,973</td></tr><tr><td>EXCESS OF CASH OUTGO</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td></tr></table>
Less than $500,000.
1/ These figures are not intended to reflect the budgetary position of the Government, and will not agree with budgetary figures on receipts, expenditures and deficit such as those appearing in the Daily Treasury Statement and in other tables in the "Treasury Bulletin". For an explanation of the revisions made in Daily Treasury Statement figures to arrive at this cash series, see the "Treasury Bulletin", February 1939.
2/ Includes sale of commodity food stamps, Agricultural Marketing Administration.
3/ Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority, River and Harbor Work and Flood Control, Tennessee Valley Authority, Forest Roads and Trails, and Reclamation projects.
4/ Comprises Agricultural Conservation and Adjustment Administration, Agricultural Marketing Administration, Commodity Credit Corporation, Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Farm Security Administration, Farm Tenant Act, Rural Electrification Administration, and Department of Agriculture departmental expenditures. Excludes Agricultural Marketing Administration, reflected on Daily Treasury Statement as transfer to trust accounts.
5/ Excludes transactions under transfers to trust accounts, etc.
6/ Excludes accrued interest on United States savings bonds outstanding.
Total Cash Income and Outgo, by Months
(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><b>Cash income</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>1940</td><td>398</td><td>614</td><td>989</td><td>385</td><td>561</td><td>781</td><td>449</td><td>724</td><td>756</td><td>458</td><td>656</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>10,899</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Cash outgo</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>835</td><td>589</td><td>783</td><td>852</td><td>829</td><td>702</td><td>895</td><td>8,687</td></tr><tr><td>1939</td><td>728</td><td>669</td><td>834</td><td>730</td><td>750</td><td>844</td><td>652</td><td>989</td><td>892</td><td>781</td><td>667</td><td>947</td><td>9,483</td></tr><tr><td>1940</td><td>727</td><td>679</td><td>851</td><td>793</td><td>691</td><td>886</td><td>806</td><td>870</td><td>832</td><td>976</td><td>962</td><td>1,244</td><td>10,317</td></tr><tr><td>1941</td><td>1,179</td><td>1,150</td><td>1,555</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,516</td><td>1,748</td><td>2,046</td><td>2,439</td><td>1,973</td><td>2,778</td><td>20,841</td></tr><tr><td>1942</td><td>2,699</td><td>2,729</td><td>3,608</td><td>3,973</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><b>Excess of cash outgo</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1936</td><td>182</td><td>244</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>11</td><td>224</td><td>151</td><td>85</td><td>434</td><td>181</td><td>138</td><td>1,695</td></tr><tr><td>1939</td><td>364</td><td>88</td><td>38</td><td>407</td><td>198</td><td>200</td><td>283</td><td>400</td><td>140</td><td>382</td><td>100</td><td>332</td><td>2,332</td></tr><tr><td>1940</td><td>329</td><td>65</td><td>-138</td><td>408</td><td>130</td><td>105</td><td>357</td><td>146</td><td>76</td><td>518</td><td>306</td><td>446</td><td>2,748</td></tr><tr><td>1941</td><td>704</td><td>426</td><td>-85</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>9,982</td></tr><tr><td>1942</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
15
CASH INCOME AND OUTGO OF THE TREASURY
GENERAL FUND OF THE TREASURY
16
17
Assets of the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Bullion, coin, and currency</th><th>Deposits in Federal Reserve Banks</th><th>Special deposits account of sales of Government securities</th><th>Other deposits and collections</th></tr><tr><td>1933</td><td>1,103</td><td>184</td><td>51</td><td>837</td><td>31</td></tr><tr><td>1934</td><td>3,033</td><td>1,045</td><td>97</td><td>1,894</td><td>37</td></tr><tr><td>1935</td><td>2,016</td><td>1,044</td><td>118</td><td>799</td><td>55</td></tr><tr><td>1936</td><td>2,936</td><td>865</td><td>862</td><td>1,150</td><td>58</td></tr><tr><td>1937</td><td>2,709</td><td>1,863</td><td>141</td><td>649</td><td>55</td></tr><tr><td>1938</td><td>2,419</td><td>827</td><td>929</td><td>611</td><td>52</td></tr><tr><td>1939</td><td>3,087</td><td>1,194</td><td>1,022</td><td>776</td><td>95</td></tr><tr><td>1940</td><td>2,038</td><td>874</td><td>254</td><td>805</td><td>105</td></tr><tr><td>1941</td><td>2,512</td><td>984</td><td>1,024</td><td>661</td><td>143</td></tr><tr><td>1941-April</td><td>2,599</td><td>992</td><td>910</td><td>550</td><td>147</td></tr><tr><td>May</td><td>2,079</td><td>926</td><td>470</td><td>543</td><td>141</td></tr><tr><td>June</td><td>2,812</td><td>984</td><td>1,024</td><td>661</td><td>143</td></tr><tr><td>July</td><td>2,807</td><td>1,041</td><td>934</td><td>680</td><td>151</td></tr><tr><td>August</td><td>3,057</td><td>1,086</td><td>995</td><td>833</td><td>143</td></tr><tr><td>September</td><td>2,461</td><td>991</td><td>526</td><td>797</td><td>147</td></tr><tr><td>October</td><td>2,852</td><td>913</td><td>998</td><td>784</td><td>156</td></tr><tr><td>November</td><td>2,944</td><td>896</td><td>543</td><td>947</td><td>159</td></tr><tr><td>December</td><td>3,816</td><td>919</td><td>966</td><td>1,756</td><td>175</td></tr><tr><td>1942-January</td><td>3,232</td><td>902</td><td>391</td><td>1,750</td><td>188</td></tr><tr><td>February</td><td>3,867</td><td>879</td><td>748</td><td>2,054</td><td>185</td></tr><tr><td>March</td><td>3,857</td><td>890</td><td>525</td><td>2,231</td><td>211</td></tr><tr><td>April</td><td>3,216</td><td>889</td><td>522</td><td>1,579</td><td>226</td></tr></table>
Source: Daily Treasury Statements.
Balance in the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total assets</th><th>Total liabilities</th><th>Balance in the General Fund</th><th colspan="3">Analysis of balance in the General Fund 1/</th></tr><tr><th></th><th></th><th></th><th></th><th>Working balance</th><th>Seigniorage on silver</th><th>Increment on gold</th></tr><tr><td>1933</td><td>1,103</td><td>240</td><td>862</td><td>862</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>3,033</td><td>451</td><td>2,582</td><td>1,771</td><td>-</td><td>811</td></tr><tr><td>1935</td><td>2,016</td><td>175</td><td>1,841</td><td>1,001</td><td>140</td><td>700</td></tr><tr><td>1936</td><td>2,936</td><td>254</td><td>2,682</td><td>2,069</td><td>316</td><td>297</td></tr><tr><td>1937</td><td>2,709</td><td>156</td><td>2,553</td><td>2,000</td><td>356</td><td>198</td></tr><tr><td>1938</td><td>2,419</td><td>203</td><td>2,216</td><td>1,622</td><td>446</td><td>147</td></tr><tr><td>1939</td><td>3,087</td><td>248</td><td>2,838</td><td>2,160</td><td>536</td><td>142</td></tr><tr><td>1940</td><td>2,038</td><td>147</td><td>1,891</td><td>1,163</td><td>585</td><td>143</td></tr><tr><td>1941</td><td>2,812</td><td>179</td><td>2,633</td><td>1,885</td><td>605</td><td>143</td></tr><tr><td>1941-April</td><td>2,599</td><td>173</td><td>2,425</td><td>1,679</td><td>603</td><td>143</td></tr><tr><td>May</td><td>2,079</td><td>175</td><td>1,904</td><td>1,157</td><td>604</td><td>143</td></tr><tr><td>June</td><td>2,512</td><td>179</td><td>2,633</td><td>1,885</td><td>605</td><td>143</td></tr><tr><td>July</td><td>2,807</td><td>208</td><td>2,599</td><td>1,848</td><td>607</td><td>143</td></tr><tr><td>August</td><td>3,057</td><td>185</td><td>2,873</td><td>2,120</td><td>610</td><td>143</td></tr><tr><td>September</td><td>2,461</td><td>195</td><td>2,266</td><td>1,511</td><td>611</td><td>143</td></tr><tr><td>October</td><td>2,552</td><td>210</td><td>2,641</td><td>1,885</td><td>613</td><td>143</td></tr><tr><td>November</td><td>2,544</td><td>225</td><td>2,319</td><td>1,562</td><td>614</td><td>143</td></tr><tr><td>December</td><td>3,616</td><td>256</td><td>3,560</td><td>2,802</td><td>615</td><td>143</td></tr><tr><td>1942-January</td><td>3,232</td><td>282</td><td>2,950</td><td>2,191</td><td>616</td><td>143</td></tr><tr><td>February</td><td>3,667</td><td>305</td><td>3,562</td><td>2,802</td><td>617</td><td>143</td></tr><tr><td>March</td><td>3,557</td><td>365</td><td>3,493</td><td>2,732</td><td>618</td><td>143</td></tr><tr><td>April</td><td>3,216</td><td>365</td><td>2,851</td><td>2,089</td><td>618</td><td>143</td></tr></table>
Source: Daily Treasury Statements.
In the fiscal years 1935 and 1936, $91 millions and $554 millions, respectively, were transferred from increment on gold to the working balance for retirement of national bank notes.
In this statement, however, charges for retirement of national bank notes are reflected directly against increment on gold in the years during which the retirements were actually made. Inactive gold in the amount of $1,057 millions for the fiscal year 1937 is considered as a part of the working balance.
18
Analysis of Change in Balance of General Fund of the Treasury
[In millions of dollars - Net increase or net decrease (-)]
<table><tr><th>Change during fiscal year or month</th><th>Total change in General Fund balance</th><th colspan="6">Working balance</th><th>Seigniorage on silver</th><th>Increment on gold 5/</th></tr><tr><th></th><th></th><th>Total working balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Trust accounts 3/</th><th>Miscellaneous funds and accounts 4/</th><th>Checking accounts of Government agencies, etc.</th><th></th><th></th></tr><tr><td>1933</td><td>445</td><td>445</td><td>-1,784</td><td>3,052</td><td>-5</td><td>-</td><td>-818</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>1,720</td><td>908</td><td>-2,896</td><td>4,514</td><td>24</td><td>-</td><td>-734</td><td>-</td><td>811</td></tr><tr><td>1935</td><td>-741</td><td>-769 6/</td><td>-3,209</td><td>1,739 1/</td><td>64</td><td>-</td><td>637</td><td>110</td><td>-111 6/</td></tr><tr><td>1936</td><td>840</td><td>1,067 6/</td><td>-4,550</td><td>5,475 1/</td><td>34</td><td>-</td><td>108</td><td>176</td><td>-403 6/</td></tr><tr><td>1937</td><td>-128</td><td>-70</td><td>-3,149</td><td>2,746 1/</td><td>19</td><td>-</td><td>314</td><td>40</td><td>-99</td></tr><tr><td>1938</td><td>-338</td><td>-377</td><td>-1,384</td><td>792 1/</td><td>11</td><td>-</td><td>204</td><td>90</td><td>-51</td></tr><tr><td>1939</td><td>622</td><td>537</td><td>-3,542</td><td>3,280 1/</td><td>29</td><td>2</td><td>768</td><td>30</td><td>-5</td></tr><tr><td>1940</td><td>-947</td><td>-997</td><td>-3,611</td><td>2,528</td><td>37</td><td>16</td><td>34</td><td>49</td><td>*</td></tr><tr><td>1941</td><td>742</td><td>722</td><td>-5,103</td><td>5,994</td><td>37</td><td>11</td><td>-217</td><td>20</td><td>*</td></tr><tr><td>1941-April</td><td>-290</td><td>-291</td><td>-750</td><td>58</td><td>36</td><td>5</td><td>361</td><td>1</td><td>*</td></tr><tr><td>May</td><td>-521</td><td>-522</td><td>-747</td><td>490</td><td>136</td><td>9</td><td>411</td><td>1</td><td>*</td></tr><tr><td>June</td><td>729</td><td>727</td><td>-252</td><td>1,241</td><td>-185</td><td>3</td><td>-80</td><td>2</td><td>*</td></tr><tr><td>July</td><td>-34</td><td>-36</td><td>-1,185</td><td>551</td><td>41</td><td>21</td><td>534</td><td>2</td><td>*</td></tr><tr><td>August</td><td>274</td><td>272</td><td>-1,133</td><td>1,408</td><td>160</td><td>5</td><td>-169</td><td>2</td><td>*</td></tr><tr><td>September</td><td>-607</td><td>-609</td><td>-739</td><td>425</td><td>-196</td><td>-6</td><td>-93</td><td>2</td><td>*</td></tr><tr><td>October</td><td>376</td><td>374</td><td>-1,637</td><td>2,238</td><td>47</td><td>-3</td><td>-272</td><td>2</td><td>*</td></tr><tr><td>November</td><td>-322</td><td>-323</td><td>-1,294</td><td>1,456</td><td>172</td><td>2</td><td>-659</td><td>1</td><td>*</td></tr><tr><td>December</td><td>1,241</td><td>1,240</td><td>-1,329</td><td>2,898</td><td>-189</td><td>-</td><td>-140</td><td>1</td><td>*</td></tr><tr><td>1942-January</td><td>-610</td><td>-611</td><td>-2,050</td><td>2,073</td><td>30</td><td>16</td><td>-681</td><td>1</td><td>*</td></tr><tr><td>February</td><td>612</td><td>611</td><td>-1,871</td><td>2,369</td><td>147</td><td>1</td><td>-35</td><td>1</td><td>*</td></tr><tr><td>March</td><td>-69</td><td>-70</td><td>126</td><td>39</td><td>-172</td><td>12</td><td>-75</td><td>1</td><td>*</td></tr><tr><td>April</td><td>-642</td><td>-643</td><td>-3,058</td><td>2,542</td><td>47</td><td>15</td><td>-189</td><td>1</td><td>*</td></tr></table>
In the fiscal years 1935 and 1936, $91 millions and $554 millions were transferred from increment on gold to the working balance for retirement of national bank notes. In this statement, however, charges for retirement of national bank notes are reflected directly against increment on gold, in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance general and special accounts for the purpose of this table.
Expenditures for the retirement of national bank notes from increment on gold for the fiscal years 1935 to 1939 (as shown below) are not reflected herein, but are reflected under increment on gold as follows: 1935 - $91 millions, 1936 - $397 millions, 1937 - $99 millions, 1938 - $51 millions, and 1939 - $5 millions, total - $645 millions. The increases in the public debt shown in the table Means of Financing Cash Requirements for the above fiscal years will not agree for the reason stated above.
Source: Daily Treasury Statements.
1/ This is the net budget deficit. Excludes expenditures for retirement of public debt.
2/ This represents the increase in the gross public debt, except as noted. (See footnote 1/)
3/ Includes Federal Old-Age and Survivors Insurance Trust Fund, Unemployment Trust Fund, Railroad Retirement Account, Government insurance and retirement funds and other trust funds.
4/ Comprises Public Works Administration revolving fund and special deposits (net). Also includes Agricultural Marketing Administration commodity food stamp transactions.
5/ Includes expenditures for retirement of national bank notes.
GOVERNMENT SECURITIES OUTSTANDING
-19-
20
Statement of the Outstanding Public Debt on June 30, 1941 and April 30, 1942
(in millions of dollars)
<table><tr><th></th><th>June 30, 1941</th><th>April 30, 1942</th><th>Change</th><th></th><th>June 30, 1941</th><th>April 30, 1942</th><th>Change</th></tr><tr><td>Interest-bearing public debt</td><td></td><td></td><td></td><td>Interest-bearing public debt (continued)</td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td>Special issues:</td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td>Adjusted Service Certificate Fund....................</td><td>19</td><td>19</td><td>-</td></tr><tr><td>Treasury bonds....................</td><td>30,215</td><td>35,910</td><td>+5,695</td><td>Federal Deposit Insurance Corporation...............</td><td>90</td><td>95</td><td>+5</td></tr><tr><td>Treasury notes....................</td><td>5,698</td><td>5,571</td><td>-127</td><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>2,381</td><td>2,869</td><td>+488</td></tr><tr><td>Treasury bills....................</td><td>1,603</td><td>1,953</td><td>+350</td><td>Federal Savings and Loan Insurance Corporation.....</td><td>5</td><td>5</td><td>-</td></tr><tr><td>Certificates of indebtedness</td><td>-</td><td>1,507</td><td>+1,507</td><td>Government Life Insurance Fund....................</td><td>531</td><td>510</td><td>-21</td></tr><tr><td>Other bonds....................</td><td>196</td><td>196</td><td>-</td><td>Government Retirement Funds....................</td><td>656</td><td>753</td><td>+97</td></tr><tr><td>Total marketable issues......</td><td>37,713</td><td>45,137</td><td>+7,424</td><td>National Service Life Insurance Fund....................</td><td>3</td><td>26</td><td>+23</td></tr><tr><td>Non-marketable issues</td><td></td><td></td><td></td><td>Postal Savings System....................</td><td>88</td><td>55</td><td>-33</td></tr><tr><td>U. S. earning bonds....................</td><td>4,314</td><td>8,951</td><td>+4,637</td><td>Railroad Retirement Account....................</td><td>74</td><td>112</td><td>+38</td></tr><tr><td>Treasury notes - tax series.</td><td>-</td><td>2,744</td><td>+2,744</td><td>Unemployment Trust Fund....................</td><td>2,273</td><td>2,914</td><td>+641</td></tr><tr><td>Adjusted service bonds....................</td><td>241</td><td>230</td><td>-11</td><td>Total special issues....................</td><td>6,120</td><td>7,358</td><td>+1,238</td></tr><tr><td>Depository bonds....................</td><td>-</td><td>76</td><td>+76</td><td>Total interest-bearing public debt....................</td><td>48,387</td><td>64,496</td><td>+16,109</td></tr><tr><td>Total non-marketable issues.</td><td>4,555</td><td>12,002</td><td>+7,447</td><td>Matured debt on which interest has ceased.</td><td>205</td><td>108</td><td>-97</td></tr><tr><td>Total public issues....................</td><td>42,267</td><td>57,139</td><td>+14,872</td><td>Debt bearing no interest....................</td><td>369</td><td>357</td><td>-12</td></tr><tr><td></td><td></td><td></td><td></td><td>Total public debt 1/....................</td><td>48,961</td><td>64,961</td><td>+16,000</td></tr></table>
Source: Daily Treasury Statements. 1/ Does not include securities issued by Federal agencies and guaranteed by the United States.
Composition of the Public Debt
(In millions of dollars)
<table><tr><th rowspan="3">End of fiscal year or month</th><th rowspan="3">Total public debt 1/</th><th colspan="8">Gross public debt</th><th rowspan="3">Matured debt</th><th rowspan="3">Debt bearing no interest</th></tr><tr><th colspan="4">Interest-bearing public debt</th><th colspan="4">Special issues</th></tr><tr><th>Total</th><th colspan="2">Public issues</th><th colspan="2">Special issues</th><th>% of total interest-bearing debt</th></tr><tr><th></th><th></th><th></th><th>Bonds</th><th>% of total interest-bearing debt</th><th>Notes</th><th>% of total interest-bearing debt</th><th>Bills and certificates of indebtedness</th><th>% of total interest-bearing debt</th><th>Amount</th><th></th><th></th></tr><tr><td>1933</td><td>22,539</td><td>22,158</td><td>11,223</td><td>61.2</td><td>4,518</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></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>395</td><td>1.5</td><td>54</td><td>518</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>2,055</td><td>7.4</td><td>633</td><td>2.3</td><td>231</td><td>825</td></tr><tr><td>1936</td><td>33,779</td><td>32,989</td><td>16,628</td><td>56.5</td><td>11,351</td><td>34.5</td><td>2,354</td><td>7.1</td><td>625</td><td>1.9</td><td>169</td><td>620</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>2,303</td><td>6.4</td><td>1,558</td><td>4.3</td><td>119</td><td>506</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></tr><tr><td>1939</td><td>40,440</td><td>39,886</td><td>27,566</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></tr><tr><td>1940</td><td>42,958</td><td>42,376</td><td>29,917</td><td>70.6</td><td>6,383</td><td>15.1</td><td>1,302</td><td>3.1</td><td>4,775</td><td>11.3</td><td>205</td><td>386</td></tr><tr><td>1941</td><td>48,961</td><td>48,387</td><td>34,966</td><td>72.3</td><td>5,698</td><td>11.8</td><td>1,603</td><td>3.3</td><td>6,120</td><td>12.6</td><td>205</td><td>369</td></tr><tr><td>1941-April</td><td>47,231</td><td>46,673</td><td>33,042</td><td>72.1</td><td>5,721</td><td>12.3</td><td>1,603</td><td>3.4</td><td>5,707</td><td>12.2</td><td>186</td><td>372</td></tr><tr><td>May</td><td>47,721</td><td>47,160</td><td>34,002</td><td>72.1</td><td>5,721</td><td>12.1</td><td>1,603</td><td>3.4</td><td>5,834</td><td>12.4</td><td>190</td><td>370</td></tr><tr><td>June</td><td>48,961</td><td>48,387</td><td>34,966</td><td>72.3</td><td>5,698</td><td>11.8</td><td>1,603</td><td>3.3</td><td>6,120</td><td>12.6</td><td>205</td><td>369</td></tr><tr><td>July</td><td>49,513</td><td>48,965</td><td>35,340</td><td>72.2</td><td>5,698</td><td>11.6</td><td>1,603</td><td>3.3</td><td>6,324</td><td>12.9</td><td>180</td><td>368</td></tr><tr><td>August</td><td>50,921</td><td>50,371</td><td>35,561</td><td>70.6</td><td>6,736</td><td>13.4</td><td>1,604</td><td>3.2</td><td>6,470</td><td>12.8</td><td>184</td><td>367</td></tr><tr><td>September</td><td>51,346</td><td>50,791</td><td>35,786</td><td>70.5</td><td>7,041</td><td>13.9</td><td>1,305</td><td>2.6</td><td>6,658</td><td>13.0</td><td>190</td><td>365</td></tr><tr><td>October</td><td>53,584</td><td>53,040</td><td>37,645</td><td>71.0</td><td>7,327</td><td>13.8</td><td>1,404</td><td>2.6</td><td>6,664</td><td>12.6</td><td>179</td><td>364</td></tr><tr><td>November</td><td>55,040</td><td>54,536</td><td>37,877</td><td>69.5</td><td>8,149</td><td>14.9</td><td>1,703</td><td>3.1</td><td>6,806</td><td>12.5</td><td>141</td><td>363</td></tr><tr><td>December</td><td>57,938</td><td>57,451</td><td>40,000</td><td>69.6</td><td>8,468</td><td>14.7</td><td>2,002</td><td>3.5</td><td>6,982</td><td>12.2</td><td>125</td><td>362</td></tr><tr><td>1942-January</td><td>60,012</td><td>59,531</td><td>42,078</td><td>70.7</td><td>8,288</td><td>13.9</td><td>2,101</td><td>3.5</td><td>7,063</td><td>11.9</td><td>120</td><td>360</td></tr><tr><td>February</td><td>62,381</td><td>61,895</td><td>44,305</td><td>71.6</td><td>8,398</td><td>13.6</td><td>2,002</td><td>3.2</td><td>7,190</td><td>11.6</td><td>126</td><td>360</td></tr><tr><td>March</td><td>62,419</td><td>61,940</td><td>44,847</td><td>72.4</td><td>8,107</td><td>13.1</td><td>1,652</td><td>2.7</td><td>7,333</td><td>11.8</td><td>121</td><td>359</td></tr><tr><td>April</td><td>64,961</td><td>64,496</td><td>45,363</td><td>70.3</td><td>8,315</td><td>12.9</td><td>3,460</td><td>5.4</td><td>7,358</td><td>11.4</td><td>108</td><td>357</td></tr></table>
Source: Daily Treasury Statements. 1/ Does not include securities issued by Federal agencies and guaranteed by the United States.
21
COMPOSITION OF UNITED STATES GOVERNMENT INTEREST - BEARING PUBLIC DEBT
22
Maturity Schedule of Interest-Bearing Public Marketable Securities Issued or Guaranteed by the United States
s of April 30, 1942
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues - classified by year of:</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th></tr><tr><td>1942</td><td>Treasury bills</td><td>1,953</td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>1% RFC note B - 7/1/42</td><td>276</td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>2-1/4% HOLC bond 9 - 7/1/42</td><td>8753/</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2% Treasury note B - 9/15/42</td><td>342</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>7/8% RFC note U - 10/15/42</td><td>320</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>1/2% Certificates of indebtedness A - 11/1/42</td><td>1,507</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-3/4% Treasury note C - 12/15/42</td><td>232</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>5,506</td><td>-</td><td>-</td><td>5,506</td><td>5,506</td></tr><tr><td>1943-Mar.</td><td>3/4% Treasury note D - 3/15/43</td><td>66</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>3/4% CCC note V - 5/1/43</td><td>289</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/8% Treasury note A - 6/15/43</td><td>629</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>3-3/8% Treasury bond - 6/15/43</td><td>-</td><td>454</td><td></td><td></td><td></td></tr><tr><td>July</td><td>1-1/8% RFC note Y - 7/15/43</td><td>324</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1% Treasury note C - 9/15/43</td><td>279</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>3-1/4% Treasury bond - 10/15/43</td><td>-</td><td>1,401</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/8% Treasury note B - 12/15/43</td><td>421</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>2,009</td><td>1,855</td><td>-</td><td>3,864</td><td>2,009</td></tr><tr><td>1944-Feb.</td><td>1-3/8% USHA note B - 2/1/44</td><td>114</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1% Treasury note B - 3/15/44</td><td>515</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3-1/4% FMC bond - 3/15/44</td><td>-</td><td>95</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>1% RFC note V - 4/15/44</td><td>571</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>3-1/4% Treasury bond - 4/15/44</td><td>-</td><td>1,519</td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% HOLC bond A - 5/1/44</td><td>-</td><td>779</td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% FMC bond - 5/15/44</td><td>-</td><td>835</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3/4% Treasury note A - 6/15/44</td><td>416</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1% Treasury note C - 9/15/44</td><td>283</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3/4% Treasury note D (Mat. Defense Series)</td><td>635</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>4% Treasury bond - 12/15/44</td><td>-</td><td>1,037</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>2,534</td><td>4,264</td><td>-</td><td>6,798</td><td>2,534</td></tr><tr><td>1945-Feb.</td><td>1-1/8% OCC note E - 2/15/45</td><td>412</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3/4% Treasury note A - 3/15/45</td><td>718</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% HOLC bond B - 6/1/45</td><td>-</td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond - 9/15/45</td><td>-</td><td>1,214</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>3-1/4% Treasury bond - 10/15/45</td><td>-</td><td>-</td><td>1,401</td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond - 12/15/45</td><td>541</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3/4% Treasury note B (Mat. Defense Series)</td><td>531</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>2,201</td><td>1,969</td><td>1,401</td><td>4,171</td><td>3,602</td></tr><tr><td>1946-Jan.</td><td>3% Conversion bond - 1/1/46</td><td>16</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1% Treasury note A - 3/15/46</td><td>503</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3-3/4% Treasury bond - 3/15/46</td><td>-</td><td>489</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>3-1/4% Treasury bond - 4/15/46</td><td>-</td><td>-</td><td>1,519</td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond - 6/15/46</td><td>-</td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3-1/8% Treasury bond - 6/15/46</td><td>-</td><td>619</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>519</td><td>2,344</td><td>1,519</td><td>2,862</td><td>2,037</td></tr><tr><td>1947-Jan.</td><td>3% Conversion bond - 1/1/47</td><td>13</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% HOLC bond B - 6/1/47</td><td>-</td><td>-</td><td>755</td><td></td><td></td></tr><tr><td>June</td><td>3-3/8% Treasury bond - 6/15/47</td><td>-</td><td>-</td><td>454</td><td></td><td></td></tr><tr><td>Sept.</td><td>3-3/4% Treasury bond - 9/15/47</td><td>-</td><td>-</td><td>1,214</td><td></td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond - 10/15/47</td><td>-</td><td>759</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/47</td><td>701</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>714</td><td>759</td><td>2,423</td><td>1,473</td><td>3,138</td></tr><tr><td>1948-Mar.</td><td>2% Treasury bond - 3/15/48-50</td><td>-</td><td>1,115</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2-3/4% Treasury bond - 3/15/48-51</td><td>-</td><td>1,223</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond - 6/15/48-58</td><td>-</td><td>-</td><td>1,036</td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond - 9/15/48</td><td>451</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/48-50</td><td>-</td><td>571</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>451</td><td>2,910</td><td>1,036</td><td>3,361</td><td>1,487</td></tr><tr><td>1949-May.</td><td>3% FMC bond - 5/15/49-59</td><td>-</td><td>-</td><td>835</td><td></td><td></td></tr><tr><td>June</td><td>3-1/8% Treasury bond - 6/15/49-59</td><td>-</td><td>-</td><td>819</td><td></td><td></td></tr><tr><td>June</td><td>2% Treasury bond - 6/15/49-51</td><td>-</td><td>1,014</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3-1/8% Treasury bond - 12/15/49-52</td><td>-</td><td>991</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond - 12/15/49-53</td><td>-</td><td>1,786</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>-</td><td>3,291</td><td>1,654</td><td>3,291</td><td>1,654</td></tr><tr><td>1950-Mar.</td><td>2% Treasury bond - 3/15/48-50</td><td>-</td><td>-</td><td>1,115</td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond - 9/15/50-52</td><td>-</td><td>1,186</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/48-50</td><td>-</td><td>-</td><td>571</td><td></td><td></td></tr><tr><td></td><td>Total</td><td>-</td><td>1,186</td><td>1,687</td><td>1,186</td><td>1,687</td></tr></table>
(Continued on following page)
23
Maturity Schedule of Interest-Bearing Public Marketable Securities Issued or Guaranteed by the United States As of April 30, 1942 - (Continued)
(in millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues - classified by year of:</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th></tr><tr><td>1951-Mar....</td><td>2-1/4% Treasury bond - 3/15/45-51.</td><td>-</td><td>-</td><td>1,223</td><td></td><td></td></tr><tr><td>June....</td><td>2% Treasury bond - 6/15/49-51.</td><td>-</td><td>1,627</td><td>1,014</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/51-54.</td><td>-</td><td>1,755</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond - 9/15/51-55.</td><td>-</td><td>1,118</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond - 12/15/51-53.</td><td>-</td><td>510</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond - 12/15/51-55.</td><td>-</td><td>4,011</td><td>2,237</td><td>4,011</td><td>2,237</td></tr><tr><td>Total....</td><td></td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>1952-Mar....</td><td>2-1/2% Treasury bond - 3/15/52-54.</td><td>-</td><td>1,024</td><td></td><td></td><td></td></tr><tr><td>May....</td><td>3% HOLC bond A - 5/1/44-52.</td><td>-</td><td>-</td><td>779</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/52-55.</td><td>-</td><td>1,501</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond - 9/15/50-52.</td><td>-</td><td>-</td><td>1,186</td><td></td><td></td></tr><tr><td>Oct....</td><td>4-1/4% Treasury bond - 10/15/47-52.</td><td>-</td><td>-</td><td>759</td><td></td><td></td></tr><tr><td>Dec....</td><td>3-1/8% Treasury bond - 12/15/49-52.</td><td>-</td><td>-</td><td>491</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>2,524</td><td>3,215</td><td>2,524</td><td>3,215</td></tr><tr><td>1953-June....</td><td>2% Treasury bond - 6/15/53-55.</td><td>-</td><td>725</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond - 12/15/49-53.</td><td>-</td><td>-</td><td>1,786</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond - 12/15/51-53.</td><td>-</td><td>-</td><td>1,118</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>725</td><td>2,904</td><td>725</td><td>2,904</td></tr><tr><td>1954-Mar....</td><td>2-1/2% Treasury bond - 3/15/52-54.</td><td>-</td><td>-</td><td>1,024</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond - 6/15/51-54.</td><td>-</td><td>-</td><td>1,627</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/51-54.</td><td>-</td><td>681</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>4% Treasury bond - 12/15/44-54.</td><td>-</td><td>-</td><td>1,037</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>681</td><td>3,687</td><td>681</td><td>3,687</td></tr><tr><td>1955-Mar....</td><td>2-7/8% Treasury bond - 3/15/55-60.</td><td>-</td><td>2,611</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/52-55.</td><td>-</td><td>-</td><td>1,501</td><td></td><td></td></tr><tr><td>June....</td><td>2% Treasury bond - 6/15/53-55.</td><td>-</td><td>-</td><td>785</td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond - 9/15/51-55.</td><td>-</td><td>-</td><td>755</td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond - 12/15/51-55.</td><td>-</td><td>-</td><td>510</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>2,611</td><td>3,491</td><td>2,611</td><td>3,491</td></tr><tr><td>1956-Mar....</td><td>3-3/4% Treasury bond - 3/15/45-56.</td><td>-</td><td>-</td><td>489</td><td></td><td></td></tr><tr><td>Mar....</td><td>2-1/2% Treasury bond - 3/15/56-58.</td><td>-</td><td>1,449</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/54-56.</td><td>-</td><td>-</td><td>681</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treasury bond - 9/15/56-59.</td><td>-</td><td>982</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>2,431</td><td>1,170</td><td>2,431</td><td>1,170</td></tr><tr><td>1957</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1958-Mar....</td><td>2-1/2% Treasury bond - 3/15/56-58.</td><td>-</td><td>-</td><td>1,449</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond - 6/15/58-63.</td><td>-</td><td>919</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>919</td><td>1,449</td><td>919</td><td>1,449</td></tr><tr><td>1959-Sept....</td><td>2-3/4% Treasury bond - 9/15/56-59.</td><td>-</td><td>-</td><td>982</td><td></td><td></td></tr><tr><td>1960-Mar....</td><td>2-7/8% Treasury bond - 3/15/55-60.</td><td>-</td><td>-</td><td>2,611</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-3/4% Treasury bond - 12/15/60-65.</td><td>-</td><td>1,485</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td>-</td><td>1,485</td><td>2,611</td><td>1,485</td><td>2,611</td></tr><tr><td>1961-June....</td><td>3% Panama Canal bond - 6/1/61.</td><td>50</td><td>-</td><td>-</td><td>50</td><td>50</td></tr><tr><td>1962</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1963-June....</td><td>2-3/4% Treasury bond - 6/15/58-63.</td><td>-</td><td>-</td><td>919</td><td></td><td></td></tr><tr><td>1964-Mar....</td><td>3-1/4% FMC bond - 3/15/44-64.</td><td>-</td><td>-</td><td>95</td><td></td><td></td></tr><tr><td>1965-Dec....</td><td>2-3/4% Treasury bond - 12/15/60-65.</td><td>-</td><td>-</td><td>1,485</td><td></td><td></td></tr><tr><td>1966</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1967-Sept....</td><td>2-1/2% Treasury bond - 9/15/67-72.</td><td>-</td><td>2,716</td><td></td><td>2,716</td><td></td></tr><tr><td>1968</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1969</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1970</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1971</td><td></td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1972-Sept....</td><td>2-1/2% Treasury bond - 9/15/67-72.</td><td>-</td><td>-</td><td>2,716</td><td></td><td>2,716</td></tr></table>
Source: Daily Treasury Statement, and reports to the Treasury.
1/ Excludes postal earnings bonds and Federal Housing Administration debentures.
2/ It should be noted that callable issues appear twice in this column, once in the year of first call and again in the year of final maturity. Callable issues with respect to which a definite notice of call has been made, however, are listed as fixed maturities. The abbreviations refer to the following corporations: Home Owners' Loan Corporation, Reconstruction Finance Corporation, Commodity Credit Corporation, Federal Farm Mortgage Corporation, and United States Housing Authority.
3/ Called for redemption July 1, 1942.
24
Offerings of Marketable Issues of Treasury Bonds and Treasury Notes
Since January 1, 1938
(In millions of dollars)
<table><tr><th rowspan="3">Date of announcement</th><th rowspan="3">Date of financing</th><th colspan="5">Description of new Treasury security 1/</th><th colspan="3">Amount issued</th><th rowspan="3">Public cash subscriptions tendered</th><th colspan="4">Description of security refunded</th></tr><tr><th rowspan="2">Date of issue</th><th colspan="2">Coupon rate (percent)</th><th rowspan="2">Call and maturity dates</th><th colspan="2">Term</th><th rowspan="2">Total</th><th rowspan="2">For cash Public</th><th rowspan="2">For Government accounts 2/</th><th rowspan="2">For exchange</th><th rowspan="2">Class of security</th><th rowspan="2">Coupon rate (percent)</th><th rowspan="2">Call and maturity dates</th><th rowspan="2">Date of original issue</th></tr><tr><th>Notes</th><th>Bonds</th><th>To call</th><th>To maturity</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Ire. Mos.</td><td>Ire. Mos.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Offerings in 1938
<table><tr><td>3/7</td><td>3/15</td><td>3/15/38</td><td>-</td><td>2-1/2</td><td>9/15/48</td><td>-</td><td>-</td><td>10</td><td>6</td><td>451</td><td>-</td><td>-</td><td>451</td><td>-</td><td>Trease.note</td><td>3</td><td>3/15/38</td><td>3/15/34</td></tr><tr><td></td><td></td><td>6/15/38</td><td>1-1/8</td><td>-</td><td>6/15/43</td><td>-</td><td>-</td><td>5</td><td>-</td><td>268</td><td>-</td><td>-</td><td>36<br>232</td><td>-</td><td>Trease.note</td><td>2-7/8<br>2-1/2</td><td>6/15/38<br>9/15/38</td><td>6/15/33<br>9/15/34</td></tr><tr><td>6/6</td><td>6/15</td><td>6/15/38</td><td>-</td><td>2-3/4</td><td>6/15/58-63</td><td>20</td><td>-</td><td>25</td><td>-</td><td>919</td><td>-</td><td>-</td><td>572<br>347</td><td>-</td><td>Trease.note</td><td>2-7/8<br>2-1/2</td><td>6/15/38<br>9/15/38</td><td>6/15/33<br>9/15/34</td></tr><tr><td>9/8</td><td>9/15</td><td>6/15/38 3/9/15/38</td><td>1-1/8<br>-</td><td>2-1/2</td><td>6/15/43<br>9/15/50-52</td><td>12</td><td>-</td><td>5<br>14</td><td>-</td><td>362<br>866</td><td>342<br>462</td><td>-</td><td>19<br>405</td><td>3,062<br>4,147</td><td>Trease.note</td><td>1-1/4<br>1-1/4</td><td>12/15/38<br>12/15/38</td><td>9/15/37<br>9/15/37</td></tr><tr><td>12/5</td><td>12/15</td><td>12/15/38<br>12/15/38<br>12/15/38</td><td>1-1/8<br>-<br>2-3/4</td><td>2</td><td>12/15/43<br>12/15/47<br>12/15/60-65</td><td>22</td><td>-</td><td>5<br>9<br>27</td><td>-</td><td>368<br>701<br>591</td><td>329<br>403</td><td>-</td><td>39<br>701<br>188</td><td>3,047<br>5,732</td><td>Trease.note</td><td>1-1/2<br>1-1/2<br>1-1/2</td><td>3/15/39<br>3/15/39<br>3/15/39</td><td>9/16/35<br>9/16/35<br>9/16/35</td></tr></table>
Offerings in 1939
<table><tr><td>3/6</td><td>3/15</td><td>12/15/38 4/9/15/38 5/12/15/38 6/</td><td>1-1/8</td><td>2-1/2</td><td>2-3/4</td><td>12/15/43 9/15/50-52 12/15/60-65</td><td>12</td><td>22</td><td>5</td><td>14</td><td>27</td><td>53</td><td>319</td><td>894</td><td>53</td><td>319</td><td>894</td><td>-</td><td>Treas.note</td><td>2-1/8</td><td>6/15/39</td><td>6/15/34</td></tr><tr><td>6/5</td><td>6/15</td><td>6/15/39</td><td>3/4</td><td>-</td><td></td><td>6/15/44</td><td>-</td><td>-</td><td>5</td><td>-</td><td>-</td><td>416</td><td>-</td><td>-</td><td>416</td><td>-</td><td>-</td><td>Treas.note</td><td>1-3/8</td><td>9/15/39</td><td>6/15/37</td></tr><tr><td>10/23</td><td>11/1</td><td>11/1/39</td><td>1</td><td>-</td><td></td><td>3/15/44</td><td>-</td><td>-</td><td>4</td><td>4-1/2</td><td>-</td><td>515</td><td>-</td><td>-</td><td>515</td><td>-</td><td>-</td><td>Treas.note</td><td>1-3/8</td><td>12/15/39</td><td>7/15/35</td></tr><tr><td>11/27</td><td>12/8</td><td>12/8/39</td><td>-</td><td>2</td><td></td><td>12/15/48-50</td><td>9</td><td>-</td><td>11</td><td>-</td><td>-</td><td>571</td><td>521</td><td>50</td><td>-</td><td>6,264</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>12/12</td><td>12/22</td><td>12/22/39 12/22/39</td><td>1</td><td>2-1/4</td><td></td><td>9/15/44 12/15/51-53</td><td>12</td><td>-</td><td>4</td><td>9</td><td>-</td><td>283</td><td>-</td><td>100</td><td>1,018</td><td>-</td><td>Treas.note</td><td>1-5/8</td><td>3/15/40</td><td>3/15/35</td></tr><tr><td></td><td></td><td></td><td>-</td><td>-</td><td></td><td></td><td></td><td></td><td>14</td><td>-</td><td>-</td><td>1,118</td><td>-</td><td>100</td><td>1,018</td><td>-</td><td>Treas.note</td><td>1-5/8</td><td>3/15/40</td><td>3/15/35</td></tr></table>
Offerings in 1940
<table><tr><td>3/7</td><td>3/15</td><td>3/15/40</td><td>3/4</td><td>-</td><td>3/15/45</td><td>-</td><td>5</td><td>-</td><td>718</td><td>-</td><td>-</td><td>718</td><td>-</td><td>Treas.note</td><td>1-1/2</td><td>6/15/40</td><td>6/15/35</td></tr><tr><td>6/10</td><td>6/15</td><td>6/15/40</td><td>1</td><td>-</td><td>9/15/43</td><td>-</td><td>3</td><td>3</td><td>279</td><td>-</td><td>-</td><td>279</td><td>-</td><td>Treas.bond</td><td>3-3/8</td><td>6/15/40-43</td><td>7/16/28</td></tr><tr><td>7/11</td><td>7/22</td><td>7/22/40</td><td>-</td><td>2-1/4</td><td>6/15/54-56</td><td>14</td><td>16</td><td>-</td><td>681</td><td>631</td><td>50</td><td>-</td><td>6,605</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/25</td><td>10/7</td><td>10/7/40</td><td>-</td><td>2</td><td>6/15/53-55</td><td>13</td><td>15</td><td>-</td><td>725</td><td>-</td><td>-</td><td>725</td><td>-</td><td>Treas.note</td><td>1-1/2</td><td>12/15/40</td><td>12/16/35</td></tr><tr><td>12/11</td><td>12/18</td><td>12/18/40</td><td>3/4 T</td><td>-</td><td>12/15/45</td><td>-</td><td>5</td><td>-</td><td>531</td><td>531</td><td>-</td><td>-</td><td>4,071</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Offerings in 1941
<table><tr><td>1/23</td><td>1/31</td><td>1/31/41</td><td>3/4 T -</td><td>9/15/44</td><td>-</td><td>3 7-1/2</td><td>635</td><td>635</td><td>-</td><td>-</td><td>2,756</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>2/25</td><td>3/15</td><td>3/15/41</td><td>3/4 T -</td><td>3/15/43</td><td>-</td><td>2 -</td><td>32</td><td>-</td><td>5 28</td><td>-</td><td>Treas. bond</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td><td>3/16/36</td></tr><tr><td></td><td></td><td>3/15/41</td><td>-</td><td>2 T</td><td>3/15/48-50</td><td>7 -</td><td>9 -</td><td>1,116</td><td>-</td><td>482 634</td><td>-</td><td>Treas. bond</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td><td>3/16/36</td></tr><tr><td>3/19</td><td>3/31</td><td>3/15/41 3/31/41</td><td>3/4 T -</td><td>2-1/2 T</td><td>3/15/43 3/15/52-54</td><td>11 -</td><td>2 -</td><td>1,024</td><td>526</td><td>50</td><td>33 447</td><td>6,145</td><td>Treas. note</td><td>1-3/8</td><td>6/15/41</td><td>6/15/36</td></tr><tr><td>5/22</td><td>6/2</td><td>3/15/41 6/2/41</td><td>3/4 T -</td><td>2-1/2 T</td><td>3/15/43 3/15/56-58</td><td>14 9-1/2</td><td>2 -</td><td>1,449</td><td>662</td><td>-</td><td>1 787</td><td>6,268</td><td>Treas. bond</td><td>3-1/4</td><td>8/1/41</td><td>8/15/33</td></tr><tr><td>10/9</td><td>10/20</td><td>10/20/41</td><td>-</td><td>2-1/2 T</td><td>9/15/67-72</td><td>25 11</td><td>30 11</td><td>1,596</td><td>1,307</td><td>100</td><td>189</td><td>10,446</td><td>Treas. note</td><td>1-1/4</td><td>12/15/41</td><td>12/15/36</td></tr><tr><td>10/23</td><td>11/1</td><td>11/1/41</td><td>1 T -</td><td>3/15/46</td><td>-</td><td>4 4-1/2</td><td>503</td><td>-</td><td>-</td><td>299 203</td><td>1/1/</td><td>-</td><td>BRC note</td><td>7/8</td><td>11/1/41</td><td>11/1/38</td></tr><tr><td>12/4</td><td>12/15</td><td>12/15/41 10/20/41 3/</td><td>-</td><td>2 T 2-1/2 T</td><td>12/15/51-55 9/15/67-72</td><td>10 25 11</td><td>14 30 11</td><td>533 1,120</td><td>533,070</td><td>50</td><td>-</td><td>4,728 6,979</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Offerings in 1942
<table><tr><td>1/11</td><td>1/15</td><td>1/15/42</td><td>-</td><td>2 T</td><td>6/15/49-51</td><td>7</td><td>5</td><td>9</td><td>5</td><td>1,014</td><td>-</td><td>406<br>308 7/<br>205 1/<br>96 7/</td><td>-</td><td>Trease.note<br>RTC note<br>PTMC bond<br>PTMC bond</td><td>2-3/4<br>7/8<br>3<br>2-3/4</td><td>3/15/42<br>1/15/42<br>1/15/42-47<br>3/1/42-47</td><td>6/15/37<br>2/15/39<br>1/15/35<br>3/1/35</td></tr><tr><td>2/13</td><td>2/25</td><td>2/25/42</td><td>-</td><td>2-1/4 T</td><td>6/15/52-55</td><td>10</td><td>3-1/2</td><td>13</td><td>3-1/2</td><td>1,512</td><td>1,512</td><td>-</td><td>-</td><td>4,697</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4/6</td><td>4/15</td><td>4/15/42</td><td>1/2 T<br>8/-</td><td>-</td><td>11/1/42</td><td>-</td><td>-</td><td>-</td><td>6-1/2</td><td>1,507</td><td>1,507</td><td>-</td><td>-</td><td>3,062</td><td>-</td><td>-</td><td>-</td></tr><tr><td>5/4</td><td>5/5</td><td>5/5/42</td><td>-</td><td>2-1/2</td><td>6/15/62-67</td><td>20</td><td>1</td><td>25</td><td>1</td><td>882</td><td>882</td><td>-</td><td>-</td><td>882</td><td>-</td><td>-</td><td>-</td></tr><tr><td>5/4</td><td>5/15</td><td>5/15/42</td><td>-</td><td>2</td><td>9/15/49-51</td><td>7</td><td>4</td><td>9</td><td>4</td><td>1,292</td><td>1,292</td><td>-</td><td>-</td><td>3,283</td><td>-</td><td>-</td><td>-</td></tr></table>
Back figures: For period between July 1, 1932 and December 31, 1937 see Annual Report of the Secretary of the Treasury for 1940, pp. 53-54. Taxable issue. 1/ Unless otherwise indicated, each offering was at par. 2/ The amounts shown in this column were sold to Government investment accounts direct from amounts set aside for this purpose. 3/ Additional offering at per of security already outstanding.
Additional offering at 101 of security already outstanding.
Additional offering at 102-1/2 of security already outstanding.
Additional offering at 102-3/8 of security already outstanding.
Proceeds of payment or purchase of refunded security applied to payment for new issue - in effect an exchange and so treated in this statement.
Certificates of indebtedness.
25
Offerings and Maturities of Treasury Bills, Beginning April 1, 1941
<table><tr><th rowspan="2">Date of new issue or of maturity of old issue</th><th colspan="7">Date on new issues</th><th rowspan="2">Amount of maturing issue (In millions of dollars)</th><th rowspan="2">Total bills outstanding (as of date shown in first column) (In millions of dollars)</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of cash subscriptions tendered (In millions of dollars)</th><th colspan="3">Bids accepted</th></tr><tr><th></th><th></th><th></th><th></th><th>Amount (In millions of dollars)</th><th>Average price per hundred</th><th>Equivalent average rate 1/</th><th>(Percent)</th><th></th><th></th></tr><tr><td>1941-Apr. 2.</td><td>1941-July 2.</td><td>91</td><td>290.8</td><td>100.6</td><td>99.986</td><td>0.055</td><td>100.4</td><td>1,604.1</td></tr><tr><td>Apr. 9.</td><td>July 9.</td><td>91</td><td>208.9</td><td>100.1</td><td>99.980</td><td>0.079</td><td>100.0</td><td>1,604.2</td></tr><tr><td>Apr. 16.</td><td>July 16.</td><td>91</td><td>252.6</td><td>100.4</td><td>99.976</td><td>0.093</td><td>100.0</td><td>1,604.6</td></tr><tr><td>Apr. 23.</td><td>July 23.</td><td>91</td><td>247.4</td><td>100.1</td><td>99.975</td><td>0.097</td><td>100.0</td><td>1,604.7</td></tr><tr><td>Apr. 30.</td><td>July 30.</td><td>91</td><td>301.7</td><td>100.1</td><td>99.976</td><td>0.097</td><td>101.3</td><td>1,603.4</td></tr><tr><td>May 7.</td><td>Aug. 6.</td><td>91</td><td>315.8</td><td>100.0</td><td>99.976</td><td>0.096</td><td>100.5</td><td>1,603.0</td></tr><tr><td>May 14.</td><td>Aug. 13.</td><td>91</td><td>374.7</td><td>100.0</td><td>99.983</td><td>0.069</td><td>100.3</td><td>1,602.7</td></tr><tr><td>May 21.</td><td>Aug. 20.</td><td>91</td><td>301.5</td><td>100.5</td><td>99.982</td><td>0.070</td><td>100.1</td><td>1,603.1</td></tr><tr><td>May 28.</td><td>Aug. 27.</td><td>91</td><td>260.4</td><td>100.3</td><td>99.983</td><td>0.069</td><td>100.1</td><td>1,603.3</td></tr><tr><td>June 4.</td><td>Sept. 3.</td><td>91</td><td>334.9</td><td>200.1</td><td>99.973</td><td>0.107</td><td>200.3</td><td>1,603.1</td></tr><tr><td>June 11.</td><td>Sept. 10.</td><td>91</td><td>439.5</td><td>200.3</td><td>99.975</td><td>0.100</td><td>200.3</td><td>1,603.1</td></tr><tr><td>June 18.</td><td>Sept. 17.</td><td>91</td><td>398.1</td><td>200.6</td><td>99.974</td><td>0.103</td><td>200.2</td><td>1,603.5</td></tr><tr><td>June 25.</td><td>Sept. 24.</td><td>91</td><td>267.8</td><td>100.1</td><td>99.983</td><td>0.066</td><td>100.4</td><td>1,603.2</td></tr><tr><td>July 2.</td><td>Oct. 1.</td><td>91</td><td>281.1</td><td>100.9</td><td>99.978</td><td>0.086</td><td>100.6</td><td>1,603.5</td></tr><tr><td>July 9.</td><td>Oct. 8.</td><td>91</td><td>281.7</td><td>100.0</td><td>99.976</td><td>0.097</td><td>100.1</td><td>1,603.5</td></tr><tr><td>July 16.</td><td>Oct. 15.</td><td>91</td><td>306.1</td><td>100.3</td><td>99.975</td><td>0.097</td><td>100.4</td><td>1,603.4</td></tr><tr><td>July 23.</td><td>Oct. 22.</td><td>91</td><td>292.8</td><td>100.1</td><td>99.975</td><td>0.098</td><td>100.1</td><td>1,603.4</td></tr><tr><td>July 30.</td><td>Oct. 29.</td><td>91</td><td>266.6</td><td>100.0</td><td>99.976</td><td>0.094</td><td>100.1</td><td>1,603.3</td></tr><tr><td>Aug. 6.</td><td>Nov. 5.</td><td>91</td><td>293.2</td><td>100.2</td><td>99.973</td><td>0.106</td><td>100.0</td><td>1,603.5</td></tr><tr><td>Aug. 13.</td><td>Nov. 12.</td><td>91</td><td>288.8</td><td>100.1</td><td>99.971</td><td>0.114</td><td>100.0</td><td>1,603.6</td></tr><tr><td>Aug. 20.</td><td>Nov. 19.</td><td>91</td><td>297.4</td><td>100.2</td><td>99.971</td><td>0.116</td><td>100.5</td><td>1,603.4</td></tr><tr><td>Aug. 27.</td><td>Nov. 26.</td><td>91</td><td>327.1</td><td>100.8</td><td>99.971</td><td>0.114</td><td>100.3</td><td>1,603.9</td></tr><tr><td>Sept. 3.</td><td>Dec. 3.</td><td>91</td><td>383.6</td><td>100.4</td><td>99.977</td><td>0.090</td><td>200.1</td><td>1,504.1</td></tr><tr><td>Sept. 10.</td><td>Dec. 10.</td><td>91</td><td>439.5</td><td>101.0</td><td>99.982</td><td>0.071</td><td>200.3</td><td>1,404.8</td></tr><tr><td>Sept. 17.</td><td>Dec. 17.</td><td>91</td><td>493.4</td><td>100.0</td><td>99.987</td><td>0.050</td><td>200.6</td><td>1,304.2</td></tr><tr><td>Sept. 24.</td><td>Dec. 24.</td><td>91</td><td>404.2</td><td>100.7</td><td>99.991</td><td>0.037</td><td>100.1</td><td>1,304.9</td></tr><tr><td>Oct. 1.</td><td>Dec. 31.</td><td>91</td><td>182.0</td><td>100.0</td><td>99.984</td><td>0.062</td><td>100.9</td><td>1,304.1</td></tr><tr><td>Oct. 8.</td><td>1942-Jan. 7.</td><td>91</td><td>368.8</td><td>100.4</td><td>100.000-</td><td>0.002</td><td>100.0</td><td>1,304.4</td></tr><tr><td>Oct. 15.</td><td>Jan. 14.</td><td>91</td><td>217.6</td><td>100.2</td><td>100.000-</td><td>0.001</td><td>100.3</td><td>1,304.3</td></tr><tr><td>Oct. 22.</td><td>Jan. 21.</td><td>91</td><td>303.9</td><td>150.2</td><td>99.994</td><td>0.024</td><td>100.1</td><td>1,354.4</td></tr><tr><td>Oct. 29.</td><td>Jan. 28.</td><td>91</td><td>269.4</td><td>150.0</td><td>99.983</td><td>0.067</td><td>100.0</td><td>1,404.4</td></tr><tr><td>Nov. 5.</td><td>Feb. 4.</td><td>91</td><td>200.0</td><td>150.1</td><td>99.962</td><td>0.151</td><td>100.2</td><td>1,454.2</td></tr><tr><td>Nov. 12.</td><td>Feb. 11.</td><td>91</td><td>313.3</td><td>150.0</td><td>99.950</td><td>0.200</td><td>100.1</td><td>1,504.1</td></tr><tr><td>Nov. 19.</td><td>Feb. 18.</td><td>91</td><td>439.4</td><td>200.2</td><td>99.935</td><td>0.258</td><td>100.2</td><td>1,604.1</td></tr><tr><td>Nov. 26.</td><td>Feb. 25.</td><td>91</td><td>466.6</td><td>200.0</td><td>99.932</td><td>0.267</td><td>100.8</td><td>1,703.3</td></tr><tr><td>Dec. 3.</td><td>Mar. 4.</td><td>91</td><td>468.2</td><td>200.2</td><td>99.939</td><td>0.242</td><td>100.4</td><td>1,803.1</td></tr><tr><td>Dec. 10.</td><td>Mar. 11.</td><td>91</td><td>403.1</td><td>150.0</td><td>99.926</td><td>0.293</td><td>101.0</td><td>1,852.1</td></tr><tr><td>Dec. 17.</td><td>Mar. 18.</td><td>91</td><td>382.7</td><td>150.0</td><td>99.925</td><td>0.295</td><td>100.0</td><td>1,902.1</td></tr><tr><td>Dec. 24.</td><td>Mar. 16.</td><td>82</td><td>352.9</td><td>150.2</td><td>99.933</td><td>0.295</td><td>100.7</td><td>1,951.5</td></tr><tr><td>Dec. 31.</td><td>Mar. 17.</td><td>76</td><td>317.1</td><td>150.0</td><td>99.935</td><td>0.310</td><td>100.0</td><td>2,001.5</td></tr><tr><td>1942-Jan. 7.</td><td>Mar. 19.</td><td>71</td><td>351.6</td><td>150.2</td><td>99.940</td><td>0.304</td><td>100.4</td><td>2,051.3</td></tr><tr><td>Jan. 14.</td><td>Apr. 15.</td><td>91</td><td>384.7</td><td>150.0</td><td>99.970</td><td>0.119</td><td>100.2</td><td>2,101.1</td></tr><tr><td>Jan. 21.</td><td>Apr. 22.</td><td>91</td><td>351.6</td><td>150.3</td><td>99.950</td><td>0.196</td><td>150.2</td><td>2,101.3</td></tr><tr><td>Jan. 28.</td><td>Apr. 29.</td><td>91</td><td>371.5</td><td>150.2</td><td>99.942</td><td>0.231</td><td>150.0</td><td>2,101.5</td></tr><tr><td>Feb. 4.</td><td>May 6.</td><td>91</td><td>410.1</td><td>150.1</td><td>99.944</td><td>0.220</td><td>150.1</td><td>2,101.4</td></tr><tr><td>Feb. 11.</td><td>May 13.</td><td>91</td><td>400.0</td><td>150.0</td><td>99.937</td><td>0.250</td><td>150.0</td><td>2,101.5</td></tr><tr><td>Feb. 18.</td><td>May 20.</td><td>91</td><td>342.1</td><td>150.0</td><td>99.933</td><td>0.253</td><td>200.2</td><td>2,051.1</td></tr><tr><td>Feb. 25.</td><td>May 27.</td><td>91</td><td>385.8</td><td>150.4</td><td>99.933</td><td>0.266</td><td>200.0</td><td>2,001.7</td></tr><tr><td>Mar. 4.</td><td>June 3.</td><td>91</td><td>510.2</td><td>150.5</td><td>99.944</td><td>0.222</td><td>200.2</td><td>1,952.1</td></tr><tr><td>Mar. 11.</td><td>June 10.</td><td>91</td><td>471.3</td><td>150.2</td><td>99.942</td><td>0.229</td><td>150.0</td><td>1,952.3</td></tr><tr><td>Mar. 18.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.2</td><td>1,802.1</td></tr><tr><td>Mar. 17.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.0</td><td>1,652.1</td></tr><tr><td>Mar. 18.</td><td>June 17.</td><td>91</td><td>535.5</td><td>150.3</td><td>99.951</td><td>0.195</td><td>150.0</td><td>1,652.3</td></tr><tr><td>Mar. 19.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.2</td><td>1,502.1</td></tr><tr><td>Mar. 25.</td><td>June 16.</td><td>83</td><td>512.8</td><td>150.3</td><td>99.953</td><td>0.203</td><td>-</td><td>1,652.4</td></tr><tr><td>Apr. 1.</td><td>June 18.</td><td>78</td><td>356.7</td><td>150.4</td><td>99.952</td><td>0.221</td><td>-</td><td>1,802.8</td></tr><tr><td>Apr. 8.</td><td>June 19.</td><td>72</td><td>334.1</td><td>150.9</td><td>99.947</td><td>0.264</td><td>-</td><td>1,953.7</td></tr><tr><td>Apr. 15.</td><td>July 15.</td><td>91</td><td>311.2</td><td>150.1</td><td>99.929</td><td>0.281</td><td>150.0</td><td>1,953.7</td></tr><tr><td>Apr. 22.</td><td>July 22.</td><td>91</td><td>332.7</td><td>150.1</td><td>99.920</td><td>0.317</td><td>150.3</td><td>1,953.4</td></tr><tr><td>Apr. 29.</td><td>July 29.</td><td>91</td><td>375.4</td><td>150.1</td><td>99.915</td><td>0.335</td><td>150.2</td><td>1,953.4</td></tr></table>
Source: Accounts of Public Debt Service. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
26
Sales of United States Savings Bonds Beginning May 1941
Table 1.- Summary, by Series
(Is millions of dollars)
<table><tr><th rowspan="2">Month</th><th rowspan="2">Amount outstanding end of month 1/</th><th rowspan="2">Net change during month</th><th colspan="3">Gross sales</th><th rowspan="2">Accrual of redemption values</th><th rowspan="2">Redemptions</th></tr><tr><th>Total funds received</th><th>Adjustment of sales reported to funds received</th><th>Sales reported</th></tr><tr><td colspan="8">All series 2/</td></tr><tr><td>1941-May</td><td>4,008.1</td><td>+360.8</td><td>370.4</td><td>-93.1</td><td>463.5</td><td>4.4</td><td>14.0</td></tr><tr><td>June</td><td>4,314.0</td><td>+305.9</td><td>314.5</td><td>+48.5</td><td>266.0</td><td>6.2</td><td>14.8</td></tr><tr><td>July</td><td>4,649.4</td><td>+335.5</td><td>342.2</td><td>+8.2</td><td>334.0</td><td>11.3</td><td>18.0</td></tr><tr><td>August</td><td>4,907.8</td><td>+258.3</td><td>265.7</td><td>+10.7</td><td>255.0</td><td>5.6</td><td>12.9</td></tr><tr><td>September</td><td>5,131.8</td><td>+224.0</td><td>232.4</td><td>-11.4</td><td>243.8</td><td>6.0</td><td>14.4</td></tr><tr><td>October</td><td>5,394.0</td><td>+262.2</td><td>270.7</td><td>+8</td><td>269.9</td><td>5.1</td><td>13.7</td></tr><tr><td>November</td><td>5,619.7</td><td>+225.7</td><td>233.6</td><td>-5</td><td>234.1</td><td>4.9</td><td>12.8</td></tr><tr><td>December</td><td>6,139.7</td><td>+520.0</td><td>528.9</td><td>-125.2</td><td>654.1</td><td>7.4</td><td>16.3</td></tr><tr><td>1942-January</td><td>7,198.3</td><td>+1,058.6</td><td>1,060.7</td><td>-70.9 p</td><td>1,131.5 p</td><td>13.4</td><td>15.4</td></tr><tr><td>February</td><td>7,893.4</td><td>+695.1</td><td>703.3</td><td>+118.0 p</td><td>585.3 p</td><td>7.6</td><td>15.8</td></tr><tr><td>March</td><td>8,435.9</td><td>+542.5</td><td>557.9</td><td>3/</td><td>3/</td><td>6.6</td><td>22.0</td></tr><tr><td>April</td><td>8,951.0</td><td>+515.1</td><td>530.5</td><td>3/</td><td>3/</td><td>5.9</td><td>21.3</td></tr><tr><td>Total May-April</td><td>-</td><td>+5,303.5</td><td>5,410.7</td><td>3/</td><td>3/</td><td>84.4</td><td>191.3</td></tr><tr><td colspan="8">Series A-D</td></tr><tr><td>1941-May</td><td>3,658.2</td><td>+11.0</td><td>20.6</td><td>+20.6</td><td>-</td><td>4.4</td><td>14.0</td></tr><tr><td>June</td><td>3,650.2</td><td>-8.0</td><td>0</td><td>0</td><td>-</td><td>6.2</td><td>14.2</td></tr><tr><td>July</td><td>3,644.2</td><td>-6.0</td><td>.1</td><td>.1</td><td>-</td><td>11.3</td><td>17.4</td></tr><tr><td>August</td><td>3,638.1</td><td>-6.2</td><td>.1</td><td>.1</td><td>-</td><td>5.6</td><td>11.9</td></tr><tr><td>September</td><td>3,631.5</td><td>-6.6</td><td>0</td><td>0</td><td>-</td><td>6.0</td><td>12.6</td></tr><tr><td>October</td><td>3,625.3</td><td>-6.2</td><td>0</td><td>0</td><td>-</td><td>5.1</td><td>11.3</td></tr><tr><td>November</td><td>3,620.7</td><td>-4.7</td><td>.1</td><td>.1</td><td>-</td><td>4.9</td><td>9.6</td></tr><tr><td>December</td><td>3,616.1</td><td>-4.6</td><td>.3</td><td>.3</td><td>-</td><td>7.4</td><td>12.3</td></tr><tr><td>1942-January</td><td>3,618.5</td><td>+2.4</td><td>.1</td><td>.1</td><td>-</td><td>13.4</td><td>11.1</td></tr><tr><td>February</td><td>3,616.5</td><td>-2.0</td><td>.1</td><td>.1</td><td>-</td><td>7.6</td><td>9.6</td></tr><tr><td>March</td><td>3,612.4</td><td>-4.1</td><td>0</td><td>0</td><td>-</td><td>6.6</td><td>10.7</td></tr><tr><td>April</td><td>3,608.9</td><td>-3.5</td><td>0</td><td>0</td><td>-</td><td>5.9</td><td>9.4</td></tr><tr><td>Total May-April</td><td>-</td><td>-38.3</td><td>21.4</td><td>+21.4</td><td>-</td><td>84.4</td><td>144.0</td></tr><tr><td colspan="8">Series E</td></tr><tr><td>1941-May</td><td>100.6</td><td>+100.6</td><td>100.6</td><td>- 4/</td><td>100.6 4/</td><td>-</td><td>0</td></tr><tr><td>June</td><td>203.1</td><td>+102.5</td><td>102.5</td><td>- 4/</td><td>102.5 4/</td><td>-</td><td>0</td></tr><tr><td>July</td><td>347.9</td><td>+144.8</td><td>145.3</td><td>+1.2</td><td>144.1</td><td>-</td><td>.5</td></tr><tr><td>August</td><td>464.5</td><td>+116.6</td><td>117.6</td><td>-1.2</td><td>118.8</td><td>-</td><td>1.0</td></tr><tr><td>September</td><td>568.0</td><td>+103.6</td><td>105.2</td><td>-7.5</td><td>112.8</td><td>-</td><td>1.7</td></tr><tr><td>October</td><td>688.6</td><td>+120.6</td><td>122.9</td><td>+9</td><td>122.0</td><td>-</td><td>2.3</td></tr><tr><td>November</td><td>795.6</td><td>+106.9</td><td>109.5</td><td>-1.9</td><td>111.4</td><td>-</td><td>2.5</td></tr><tr><td>December</td><td>1,133.6</td><td>+338.0</td><td>341.1</td><td>-61.5</td><td>402.6</td><td>-</td><td>3.1</td></tr><tr><td>1942-January</td><td>1,798.1</td><td>+664.5</td><td>667.4</td><td>0</td><td>667.4</td><td>-</td><td>2.9</td></tr><tr><td>February</td><td>2,191.5</td><td>+393.4</td><td>398.0</td><td>+32.0</td><td>366.0</td><td>-</td><td>4.5</td></tr><tr><td>March</td><td>2,519.9</td><td>+328.4</td><td>337.6</td><td>+10.1</td><td>327.5</td><td>-</td><td>9.2</td></tr><tr><td>April</td><td>2,836.6</td><td>+316.7</td><td>326.7</td><td>3/</td><td>3/</td><td>-</td><td>9.9</td></tr><tr><td>Total May-April</td><td>-</td><td>+2,836.6</td><td>2,874.3</td><td>3/</td><td>3/</td><td>-</td><td>37.7</td></tr></table>
(Continued on following page)
27
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 1.- Summary, by Series - (Continued)
(In millions of dollars)
<table><tr><th>Month</th><th>Amount outstanding end of month 1/</th><th>Net change during month</th><th colspan="4">Analysis of net change</th><th>Redemptions</th></tr><tr><th></th><th></th><th></th><th>Total funds received</th><th>Adjustment of sales reported to funds received</th><th>Sales reported</th><th>Accrual of redemption values</th><th></th></tr><tr><td colspan="8">Series F</td></tr><tr><td>1941-May</td><td>37.8</td><td>+37.8</td><td>37.8</td><td>-14.8</td><td>52.6</td><td>-</td><td>-</td></tr><tr><td>June</td><td>66.6</td><td>+28.8</td><td>28.9</td><td>+6.5</td><td>22.4</td><td>-</td><td>*</td></tr><tr><td>July</td><td>93.9</td><td>+27.3</td><td>27.4</td><td>+3</td><td>27.1</td><td>-</td><td>.1</td></tr><tr><td>August</td><td>114.3</td><td>+20.3</td><td>20.3</td><td>+2.1</td><td>18.2</td><td>-</td><td>-</td></tr><tr><td>September</td><td>132.3</td><td>+18.1</td><td>18.1</td><td>-1.4</td><td>19.5</td><td>-</td><td>s</td></tr><tr><td>October</td><td>155.3</td><td>+23.0</td><td>23.0</td><td>+7</td><td>22.2</td><td>-</td><td>-</td></tr><tr><td>November</td><td>174.2</td><td>+18.9</td><td>19.0</td><td>+7</td><td>18.2</td><td>-</td><td>.1</td></tr><tr><td>December</td><td>207.3</td><td>+33.1</td><td>33.3</td><td>-16.8</td><td>50.0</td><td>-</td><td>.2</td></tr><tr><td>1942-January</td><td>284.6</td><td>+77.3</td><td>77.6</td><td>-8.4 p</td><td>86.0 p</td><td>-</td><td>.3</td></tr><tr><td>February</td><td>336.0</td><td>+51.4</td><td>51.8</td><td>+12.3 p</td><td>39.6 p</td><td>-</td><td>.4</td></tr><tr><td>March</td><td>376.7</td><td>+40.7</td><td>41.1</td><td>1/</td><td>1/</td><td>-</td><td>.4</td></tr><tr><td>April</td><td>416.3</td><td>+39.6</td><td>40.0</td><td>1/</td><td>1/</td><td>-</td><td>.4</td></tr><tr><td>Total May-April</td><td>-</td><td>+416.3</td><td>418.1</td><td>1/</td><td>1/</td><td>-</td><td>1.9</td></tr><tr><td colspan="8">Series G</td></tr><tr><td>1941-May</td><td>211.4</td><td>+211.4</td><td>211.4</td><td>-98.9</td><td>310.3</td><td>-</td><td>-</td></tr><tr><td>June</td><td>394.0</td><td>+182.6</td><td>183.1</td><td>+42.1</td><td>141.1</td><td>-</td><td>.5</td></tr><tr><td>July</td><td>563.4</td><td>+169.4</td><td>169.5</td><td>+6.6</td><td>162.9</td><td>-</td><td>.1</td></tr><tr><td>August</td><td>691.0</td><td>+127.6</td><td>127.7</td><td>+9.7</td><td>118.0</td><td>-</td><td>.1</td></tr><tr><td>September</td><td>799.9</td><td>+108.9</td><td>109.0</td><td>-2.5</td><td>111.5</td><td>-</td><td>.1</td></tr><tr><td>October</td><td>924.7</td><td>+124.8</td><td>124.9</td><td>-8</td><td>125.7</td><td>-</td><td>.1</td></tr><tr><td>November</td><td>1,029.3</td><td>+104.6</td><td>105.0</td><td>+6</td><td>104.5</td><td>-</td><td>.5</td></tr><tr><td>December</td><td>1,182.8</td><td>+153.5</td><td>154.2</td><td>-47.2</td><td>201.4</td><td>-</td><td>.7</td></tr><tr><td>1942-January</td><td>1,497.2</td><td>+314.4</td><td>315.6</td><td>-62.6 p</td><td>378.2 p</td><td>-</td><td>1.2</td></tr><tr><td>February</td><td>1,749.3</td><td>+252.2</td><td>253.4</td><td>+73.6 p</td><td>179.8 p</td><td>-</td><td>1.2</td></tr><tr><td>March</td><td>1,926.9</td><td>+177.6</td><td>179.2</td><td>1/</td><td>1/</td><td>-</td><td>1.7</td></tr><tr><td>April</td><td>2,089.2</td><td>+162.2</td><td>163.8</td><td>1/</td><td>1/</td><td>-</td><td>1.6</td></tr><tr><td>Total May-April</td><td>-</td><td>+2,089.2</td><td>2,096.9</td><td>1/</td><td>1/</td><td>-</td><td>7.7</td></tr></table>
Series B is a 10 year discount bond sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchases are limited to $3,750 issue price in any one calendar year and may be made only by individuals. Series F is a 12 year discount bond sold at 71% of maturity value, yielding 2.53% per annum if held to maturity. Series G is a 12 year current income bond, sold at par, bearing interest at the rate of 2-1/4% per annum, redeemable at par on maturity or at stated prices less than par before maturity. Purchases of Series F and G in any one calendar year are limited to $50,000 issue price for the two series combined and may be made by any investors other than commercial banks.
Source: Daily Treasury Statements and reports of gross sales. p Preliminary. * Less than $50,000. 1/ At current redemption values except Series O, which is stated at par. Unclassified sales shown in the Daily Treasury Statement have been classified by series. 2/ Series A-D, not issued after April 1941 are 10 year discount bonds, which were sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchases were limited to $7,500 issue price in any one calendar year and from April 1, 1940, could be made only by individuals. Series E, F, and G have been on sale since May 1, 1941.
Data are not available on a sales reported basis prior to July; consequently May and June data are on a funds received basis.
28
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Month</th><th colspan="8">Sales in millions of dollars at issue price</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25 1/2</th><th>$50 2/2</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000 3/3</th><th>$10,000 3/3</th><th>Total all denominations</th><th>$25 1/2</th><th>$50 2/2</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000 3/3</th><th>$10,000 3/3</th></tr><tr><th colspan="11">Series X</th><th colspan="11"></th></tr><tr><td>1941-May 4/</td><td>100.6</td><td>6.3</td><td>6.1</td><td>19.4</td><td>20.2</td><td>48.6</td><td>-</td><td>-</td><td>100.0</td><td>6.3</td><td>6.0</td><td>19.3</td><td>20.1</td><td>48.3</td><td>-</td><td>-</td></tr><tr><td>June 4/</td><td>102.5</td><td>8.1</td><td>7.2</td><td>21.9</td><td>20.5</td><td>44.8</td><td>-</td><td>-</td><td>100.0</td><td>7.9</td><td>7.0</td><td>21.4</td><td>20.0</td><td>43.7</td><td>-</td><td>-</td></tr><tr><td>July</td><td>144.1</td><td>9.9</td><td>9.0</td><td>29.1</td><td>30.3</td><td>65.8</td><td>-</td><td>-</td><td>100.0</td><td>6.9</td><td>6.2</td><td>20.2</td><td>21.0</td><td>45.7</td><td>-</td><td>-</td></tr><tr><td>August</td><td>115.8</td><td>10.4</td><td>8.9</td><td>26.6</td><td>24.0</td><td>43.9</td><td>-</td><td>-</td><td>100.0</td><td>8.7</td><td>7.5</td><td>22.4</td><td>20.2</td><td>41.2</td><td>-</td><td>-</td></tr><tr><td>September</td><td>112.8</td><td>11.2</td><td>9.2</td><td>26.3</td><td>22.0</td><td>43.0</td><td>-</td><td>-</td><td>100.0</td><td>9.9</td><td>8.2</td><td>23.4</td><td>19.5</td><td>39.0</td><td>-</td><td>-</td></tr><tr><td>October</td><td>122.0</td><td>13.1</td><td>10.0</td><td>28.5</td><td>24.1</td><td>46.3</td><td>-</td><td>-</td><td>100.0</td><td>10.8</td><td>8.2</td><td>23.3</td><td>19.7</td><td>38.0</td><td>-</td><td>-</td></tr><tr><td>November</td><td>111.4</td><td>13.6</td><td>9.8</td><td>27.0</td><td>21.4</td><td>39.6</td><td>-</td><td>-</td><td>100.0</td><td>12.2</td><td>8.8</td><td>24.2</td><td>19.2</td><td>35.6</td><td>-</td><td>-</td></tr><tr><td>December</td><td>402.6</td><td>49.9</td><td>39.8</td><td>96.3</td><td>81.0</td><td>135.6</td><td>-</td><td>-</td><td>100.0</td><td>12.4</td><td>9.9</td><td>23.9</td><td>20.1</td><td>33.7</td><td>-</td><td>-</td></tr><tr><td>1942-January</td><td>667.4</td><td>72.1</td><td>55.1</td><td>135.2</td><td>138.9</td><td>266.1</td><td>-</td><td>-</td><td>100.0</td><td>10.8</td><td>8.2</td><td>20.3</td><td>20.8</td><td>39.9</td><td>-</td><td>-</td></tr><tr><td>February</td><td>366.0</td><td>52.6</td><td>33.0</td><td>86.4</td><td>68.8</td><td>125.2</td><td>-</td><td>-</td><td>100.0</td><td>14.4</td><td>9.0</td><td>23.6</td><td>18.8</td><td>34.2</td><td>-</td><td>-</td></tr><tr><td>March</td><td>327.5</td><td>66.2</td><td>33.8</td><td>79.2</td><td>56.5</td><td>91.8</td><td>-</td><td>-</td><td>100.0</td><td>20.2</td><td>10.3</td><td>24.2</td><td>17.3</td><td>28.0</td><td>-</td><td>-</td></tr><tr><td>Total May-Mar. 5/</td><td>2,575.6</td><td>313.4</td><td>221.9</td><td>576.0</td><td>507.6</td><td>936.8</td><td>-</td><td>-</td><td>100.0</td><td>12.2</td><td>8.6</td><td>22.4</td><td>19.7</td><td>37.1</td><td>-</td><td>-</td></tr><tr><th colspan="11">Series Y</th><th colspan="11"></th></tr><tr><td>1941-May</td><td>52.6</td><td>-</td><td>-</td><td>.5</td><td>1.2</td><td>8.9</td><td>9.2</td><td>32.8</td><td>100.0</td><td>-</td><td>-</td><td>.9</td><td>2.4</td><td>16.8</td><td>17.5</td><td>62.4</td></tr><tr><td>June</td><td>22.4</td><td>-</td><td>-</td><td>.4</td><td>.9</td><td>5.3</td><td>4.4</td><td>11.4</td><td>100.0</td><td>-</td><td>-</td><td>1.8</td><td>4.0</td><td>23.8</td><td>19.6</td><td>50.8</td></tr><tr><td>July</td><td>27.1</td><td>-</td><td>-</td><td>.6</td><td>1.3</td><td>7.4</td><td>5.7</td><td>12.0</td><td>100.0</td><td>-</td><td>-</td><td>2.3</td><td>4.9</td><td>27.3</td><td>21.0</td><td>44.5</td></tr><tr><td>August</td><td>18.2</td><td>-</td><td>-</td><td>.5</td><td>1.1</td><td>5.1</td><td>4.1</td><td>7.4</td><td>100.0</td><td>-</td><td>-</td><td>2.9</td><td>5.9</td><td>28.1</td><td>22.6</td><td>40.5</td></tr><tr><td>September</td><td>19.5</td><td>-</td><td>-</td><td>.6</td><td>1.0</td><td>5.6</td><td>4.2</td><td>8.1</td><td>100.0</td><td>-</td><td>-</td><td>3.0</td><td>5.4</td><td>28.6</td><td>21.7</td><td>41.3</td></tr><tr><td>October</td><td>22.2</td><td>-</td><td>-</td><td>.7</td><td>1.3</td><td>6.7</td><td>5.3</td><td>8.3</td><td>100.0</td><td>-</td><td>-</td><td>3.3</td><td>5.7</td><td>30.0</td><td>23.7</td><td>37.3</td></tr><tr><td>November</td><td>18.2</td><td>-</td><td>-</td><td>.7</td><td>1.1</td><td>5.6</td><td>3.9</td><td>6.9</td><td>100.0</td><td>-</td><td>-</td><td>3.6</td><td>6.2</td><td>31.0</td><td>21.2</td><td>38.0</td></tr><tr><td>December</td><td>50.0</td><td>-</td><td>-</td><td>1.9</td><td>2.8</td><td>13.8</td><td>10.6</td><td>20.9</td><td>100.0</td><td>-</td><td>-</td><td>3.9</td><td>5.6</td><td>27.6</td><td>21.1</td><td>41.8</td></tr><tr><td>1942-January p</td><td>86.0</td><td>.2</td><td>-</td><td>3.7</td><td>5.2</td><td>20.3</td><td>17.7</td><td>38.9</td><td>100.0</td><td>.2</td><td>-</td><td>4.3</td><td>6.0</td><td>23.6</td><td>20.6</td><td>45.3</td></tr><tr><td>February p</td><td>39.6</td><td>.2</td><td>-</td><td>2.7</td><td>2.9</td><td>11.5</td><td>8.2</td><td>14.1</td><td>100.0</td><td>.5</td><td>-</td><td>6.8</td><td>7.4</td><td>29.0</td><td>20.8</td><td>35.5</td></tr><tr><td>Total May-Feb. 5/</td><td>355.8</td><td>.4</td><td>-</td><td>12.4</td><td>18.9</td><td>30.2</td><td>73.3</td><td>160.7</td><td>100.0</td><td>.1</td><td>-</td><td>3.5</td><td>5.3</td><td>25.3</td><td>20.6</td><td>45.2</td></tr><tr><th colspan="11">Series G</th><th colspan="11"></th></tr><tr><td>1941-May</td><td>310.3</td><td>-</td><td>-</td><td>3.2</td><td>7.5</td><td>57.3</td><td>53.9</td><td>188.5</td><td>100.0</td><td>-</td><td>-</td><td>1.0</td><td>2.4</td><td>18.5</td><td>17.4</td><td>60.7</td></tr><tr><td>June</td><td>141.1</td><td>-</td><td>-</td><td>2.0</td><td>4.7</td><td>33.4</td><td>27.0</td><td>73.9</td><td>100.0</td><td>-</td><td>-</td><td>1.4</td><td>3.3</td><td>23.7</td><td>19.2</td><td>52.4</td></tr><tr><td>July</td><td>162.9</td><td>-</td><td>-</td><td>2.5</td><td>6.7</td><td>43.9</td><td>34.2</td><td>75.5</td><td>100.0</td><td>-</td><td>-</td><td>1.6</td><td>4.1</td><td>27.0</td><td>21.0</td><td>46.3</td></tr><tr><td>August</td><td>118.0</td><td>-</td><td>-</td><td>2.0</td><td>4.9</td><td>31.2</td><td>24.9</td><td>55.0</td><td>100.0</td><td>-</td><td>-</td><td>1.7</td><td>4.1</td><td>26.5</td><td>21.1</td><td>46.6</td></tr><tr><td>September</td><td>111.5</td><td>-</td><td>-</td><td>1.9</td><td>4.2</td><td>29.5</td><td>23.1</td><td>52.7</td><td>100.0</td><td>-</td><td>-</td><td>1.7</td><td>3.8</td><td>26.5</td><td>20.7</td><td>47.1</td></tr><tr><td>October</td><td>125.7</td><td>-</td><td>-</td><td>2.3</td><td>5.4</td><td>34.2</td><td>25.9</td><td>57.9</td><td>100.0</td><td>-</td><td>-</td><td>1.9</td><td>4.3</td><td>27.2</td><td>20.6</td><td>46.0</td></tr><tr><td>November</td><td>104.5</td><td>-</td><td>-</td><td>2.1</td><td>4.6</td><td>29.2</td><td>21.5</td><td>46.8</td><td>100.0</td><td>-</td><td>-</td><td>2.0</td><td>4.4</td><td>28.0</td><td>20.8</td><td>44.8</td></tr><tr><td>December</td><td>201.4</td><td>-</td><td>-</td><td>5.9</td><td>12.6</td><td>61.2</td><td>41.0</td><td>80.8</td><td>100.0</td><td>-</td><td>-</td><td>2.9</td><td>6.3</td><td>30.4</td><td>20.3</td><td>40.1</td></tr><tr><td>1942-January p</td><td>378.2</td><td>-</td><td>-</td><td>8.1</td><td>20.6</td><td>95.8</td><td>62.4</td><td>191.2</td><td>100.0</td><td>-</td><td>-</td><td>2.1</td><td>5.5</td><td>25.3</td><td>16.5</td><td>50.6</td></tr><tr><td>February p</td><td>179.8</td><td>-</td><td>-</td><td>4.8</td><td>10.3</td><td>49.7</td><td>35.2</td><td>79.8</td><td>100.0</td><td>-</td><td>-</td><td>2.7</td><td>5.7</td><td>27.6</td><td>19.6</td><td>44.4</td></tr><tr><td>Total May-Feb. 5/</td><td>1,633.2</td><td>-</td><td>-</td><td>34.9</td><td>81.6</td><td>465.5</td><td>349.2</td><td>902.0</td><td>100.0</td><td>-</td><td>-</td><td>1.9</td><td>4.4</td><td>25.4</td><td>19.1</td><td>49.2</td></tr></table>
Sources: Reports of gross sales.
p Preliminary.
1/ Not sold in Series O; nor in Series J prior to January 1942.
2/ Not sold in Series J and O.
3/ Not sold in Series L.
4 Data are not available on a sales reported basis prior to July; consequently May and June data are on a funds received basis with the breakdown estimated on the basis of available sales data. 5 Data for later months not yet available.
29
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 3.- Sales Reported by Series, Classified by Type of Purchaser
<table><tr><th rowspan="2">Month</th><th colspan="6">Sales in millions of dollars at issue price</th><th colspan="6">Percentage distribution of sales</th></tr><tr><th>Total all purchasers</th><th>Individuals</th><th>Premium-earning</th><th>Corporations</th><th>Insurance companies</th><th>Savings banks</th><th>All other</th><th>Total all purchasers</th><th>Individuals</th><th>Premium-earning</th><th>Corporations</th><th>Insurance companies</th><th>Savings banks</th><th>All other</th></tr><tr><td colspan="14">Series X</td></tr><tr><td>1941-May 2/</td><td>100.6</td><td>100.6</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 2/</td><td>102.5</td><td>102.5</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>144.1</td><td>144.1</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August</td><td>118.8</td><td>118.8</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September</td><td>112.8</td><td>112.8</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October</td><td>122.0</td><td>122.0</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November</td><td>111.4</td><td>111.4</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December</td><td>402.6</td><td>402.6</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-January</td><td>667.4</td><td>667.4</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February</td><td>366.0</td><td>366.0</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March</td><td>327.5</td><td>327.5</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total May-March 2/</td><td>2,575.6</td><td>2,575.6</td><td></td><td></td><td></td><td></td><td></td><td>100.0</td><td>100.0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Series Y</td></tr><tr><td>1941-May</td><td>52.6</td><td>15.1</td><td>11.9</td><td>13.2</td><td>2.5</td><td>1.1</td><td>8.9</td><td>100.0</td><td>28.6</td><td>22.6</td><td>25.2</td><td>4.7</td><td>2.0</td><td>16.9</td></tr><tr><td>June</td><td>22.4</td><td>7.1</td><td>3.9</td><td>6.0</td><td>.4</td><td>.1</td><td>4.9</td><td>100.0</td><td>31.7</td><td>17.4</td><td>26.9</td><td>1.8</td><td>.4</td><td>21.8</td></tr><tr><td>July</td><td>27.1</td><td>10.8</td><td>4.6</td><td>5.7</td><td>.4</td><td>-</td><td>5.6</td><td>100.0</td><td>40.0</td><td>16.9</td><td>20.9</td><td>1.3</td><td>-</td><td>20.9</td></tr><tr><td>August</td><td>18.2</td><td>6.3</td><td>3.0</td><td>4.5</td><td>.3</td><td>.1</td><td>4.0</td><td>100.0</td><td>34.7</td><td>16.5</td><td>24.8</td><td>1.7</td><td>.4</td><td>21.9</td></tr><tr><td>September</td><td>19.5</td><td>6.3</td><td>2.8</td><td>6.1</td><td>.2</td><td>*</td><td>4.1</td><td>100.0</td><td>32.5</td><td>14.6</td><td>31.2</td><td>.8</td><td>*</td><td>20.9</td></tr><tr><td>October</td><td>22.2</td><td>7.8</td><td>4.0</td><td>6.1</td><td>.1</td><td>*</td><td>4.1</td><td>100.0</td><td>35.2</td><td>17.8</td><td>27.5</td><td>.7</td><td>.2</td><td>18.6</td></tr><tr><td>November</td><td>18.2</td><td>6.2</td><td>2.3</td><td>5.6</td><td>.2</td><td>.1</td><td>3.9</td><td>100.0</td><td>33.9</td><td>12.8</td><td>30.8</td><td>.9</td><td>.3</td><td>21.3</td></tr><tr><td>December</td><td>50.0</td><td>20.1</td><td>6.6</td><td>13.3</td><td>.2</td><td>*</td><td>9.9</td><td>100.0</td><td>40.1</td><td>13.1</td><td>26.6</td><td>.4</td><td>.1</td><td>19.7</td></tr><tr><td>Total May-December 2/</td><td>230.3</td><td>79.7</td><td>39.1</td><td>60.6</td><td>4.2</td><td>1.4</td><td>45.4</td><td>100.0</td><td>34.6</td><td>17.0</td><td>26.3</td><td>1.8</td><td>.6</td><td>19.7</td></tr><tr><td colspan="14">Series G</td></tr><tr><td>1941-May</td><td>310.3</td><td>82.3</td><td>138.7</td><td>40.9</td><td>11.4</td><td>12.7</td><td>24.3</td><td>100.0</td><td>26.5</td><td>44.7</td><td>13.2</td><td>3.7</td><td>4.1</td><td>7.8</td></tr><tr><td>June</td><td>141.1</td><td>46.7</td><td>65.4</td><td>16.7</td><td>1.6</td><td>1.5</td><td>9.3</td><td>100.0</td><td>33.1</td><td>46.3</td><td>11.8</td><td>1.1</td><td>1.1</td><td>6.6</td></tr><tr><td>July</td><td>162.9</td><td>59.6</td><td>75.6</td><td>15.1</td><td>1.3</td><td>1.9</td><td>9.3</td><td>100.0</td><td>36.6</td><td>46.4</td><td>9.3</td><td>.8</td><td>1.2</td><td>5.7</td></tr><tr><td>August</td><td>118.0</td><td>37.8</td><td>62.0</td><td>10.5</td><td>1.2</td><td>.9</td><td>5.6</td><td>100.0</td><td>32.0</td><td>52.6</td><td>8.9</td><td>1.0</td><td>.8</td><td>4.1</td></tr><tr><td>September</td><td>111.5</td><td>34.3</td><td>57.2</td><td>12.8</td><td>.9</td><td>.8</td><td>5.4</td><td>100.0</td><td>30.8</td><td>51.3</td><td>11.5</td><td>.8</td><td>.7</td><td>4.9</td></tr><tr><td>October</td><td>125.7</td><td>41.8</td><td>63.7</td><td>13.0</td><td>.9</td><td>.5</td><td>5.9</td><td>100.0</td><td>33.2</td><td>50.6</td><td>10.4</td><td>.7</td><td>.4</td><td>4.7</td></tr><tr><td>November</td><td>104.5</td><td>33.8</td><td>52.4</td><td>12.0</td><td>.8</td><td>.3</td><td>5.2</td><td>100.0</td><td>32.3</td><td>50.2</td><td>11.5</td><td>.7</td><td>.3</td><td>5.0</td></tr><tr><td>December</td><td>201.4</td><td>102.9</td><td>62.6</td><td>24.5</td><td>.8</td><td>.2</td><td>10.5</td><td>100.0</td><td>51.1</td><td>31.1</td><td>12.1</td><td>.4</td><td>.1</td><td>5.2</td></tr><tr><td>Total May-December 2/</td><td>1,275.3</td><td>439.1</td><td>577.5</td><td>145.5</td><td>18.8</td><td>18.8</td><td>75.5</td><td>100.0</td><td>34.4</td><td>45.3</td><td>11.4</td><td>1.5</td><td>1.5</td><td>5.9</td></tr></table>
Source: Reports of gross sales.
* Less than $50,000 or .05%
1/ Comprises corporations other than banks and insurance companies.
2/ Data are not available on a sales reported basis prior to July; consequently May and June data are on a funds received basis.
3/ Data for later months not yet available.
30
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 4.- Sales Reported by Series, Classified by States
PART A - SERIES E
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th>Total May-Mar.</th><th>May 1/</th><th>June 1/</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th><th>January</th><th>February</th><th>March</th></tr><tr><td>Alabama</td><td>19,227</td><td>565</td><td>815</td><td>1,041</td><td>697</td><td>771</td><td>906</td><td>710</td><td>3,234</td><td>5,324</td><td>2,702</td><td>2,460</td></tr><tr><td>Arizona</td><td>7,416</td><td>302</td><td>408</td><td>565</td><td>272</td><td>342</td><td>316</td><td>288</td><td>1,154</td><td>1,840</td><td>958</td><td>970</td></tr><tr><td>Arkansas</td><td>14,662</td><td>427</td><td>513</td><td>645</td><td>534</td><td>667</td><td>662</td><td>753</td><td>2,393</td><td>3,715</td><td>2,246</td><td>2,107</td></tr><tr><td>California</td><td>187,414</td><td>4,845</td><td>5,075</td><td>11,279</td><td>8,041</td><td>6,275</td><td>7,475</td><td>7,108</td><td>30,019</td><td>51,384</td><td>31,618</td><td>24,293</td></tr><tr><td>Colorado</td><td>18,416</td><td>870</td><td>923</td><td>835</td><td>810</td><td>888</td><td>1,185</td><td>1,025</td><td>3,213</td><td>4,373</td><td>2,105</td><td>2,185</td></tr><tr><td>Connecticut</td><td>54,561</td><td>1,832</td><td>2,111</td><td>2,649</td><td>2,353</td><td>2,299</td><td>2,668</td><td>2,428</td><td>8,685</td><td>13,613</td><td>8,691</td><td>7,232</td></tr><tr><td>Delaware</td><td>5,397</td><td>200</td><td>269</td><td>257</td><td>232</td><td>244</td><td>232</td><td>239</td><td>892</td><td>1,217</td><td>863</td><td>753</td></tr><tr><td>District of Columbia</td><td>28,376</td><td>1,347</td><td>1,245</td><td>1,354</td><td>1,175</td><td>1,076</td><td>1,505</td><td>1,336</td><td>3,862</td><td>5,229</td><td>3,273</td><td>2,974</td></tr><tr><td>Florida</td><td>28,217</td><td>1,205</td><td>1,282</td><td>1,628</td><td>964</td><td>915</td><td>1,278</td><td>987</td><td>4,401</td><td>7,022</td><td>4,375</td><td>4,162</td></tr><tr><td>Georgia</td><td>25,323</td><td>813</td><td>829</td><td>1,423</td><td>1,607</td><td>1,344</td><td>1,418</td><td>1,082</td><td>3,822</td><td>6,540</td><td>3,450</td><td>2,993</td></tr><tr><td>Idaho</td><td>6,746</td><td>215</td><td>269</td><td>248</td><td>198</td><td>346</td><td>417</td><td>329</td><td>1,335</td><td>1,531</td><td>949</td><td>908</td></tr><tr><td>Illinois</td><td>202,248</td><td>7,195</td><td>7,542</td><td>11,435</td><td>10,583</td><td>9,524</td><td>10,156</td><td>8,927</td><td>29,791</td><td>52,669</td><td>27,853</td><td>26,575</td></tr><tr><td>Indiana</td><td>51,990</td><td>1,757</td><td>1,888</td><td>2,507</td><td>2,063</td><td>2,284</td><td>2,302</td><td>2,452</td><td>8,302</td><td>12,860</td><td>7,710</td><td>7,866</td></tr><tr><td>Iowa</td><td>42,419</td><td>1,313</td><td>1,430</td><td>1,868</td><td>1,605</td><td>1,493</td><td>1,653</td><td>1,695</td><td>6,077</td><td>9,460</td><td>5,880</td><td>9,947</td></tr><tr><td>Kansas</td><td>26,119</td><td>874</td><td>1,005</td><td>1,256</td><td>1,086</td><td>1,409</td><td>1,372</td><td>1,167</td><td>3,608</td><td>5,868</td><td>4,628</td><td>3,847</td></tr><tr><td>Kentucky</td><td>24,592</td><td>793</td><td>1,042</td><td>1,167</td><td>1,004</td><td>1,048</td><td>1,043</td><td>1,071</td><td>3,841</td><td>6,494</td><td>3,622</td><td>3,467</td></tr><tr><td>Louisiana</td><td>26,026</td><td>933</td><td>892</td><td>1,622</td><td>1,058</td><td>966</td><td>1,027</td><td>824</td><td>4,340</td><td>6,872</td><td>3,771</td><td>3,721</td></tr><tr><td>Maine</td><td>12,831</td><td>552</td><td>530</td><td>623</td><td>563</td><td>657</td><td>705</td><td>711</td><td>1,855</td><td>3,145</td><td>1,930</td><td>1,558</td></tr><tr><td>Maryland</td><td>36,937</td><td>1,293</td><td>1,452</td><td>1,691</td><td>1,556</td><td>1,458</td><td>1,783</td><td>1,614</td><td>6,747</td><td>9,735</td><td>5,512</td><td>4,095</td></tr><tr><td>Massachusetts</td><td>104,899</td><td>4,499</td><td>4,610</td><td>6,357</td><td>4,870</td><td>4,116</td><td>4,986</td><td>4,681</td><td>14,570</td><td>27,161</td><td>16,592</td><td>12,456</td></tr><tr><td>Michigan</td><td>107,435</td><td>3,128</td><td>4,981</td><td>5,149</td><td>4,376</td><td>4,715</td><td>5,990</td><td>4,992</td><td>16,376</td><td>25,794</td><td>16,154</td><td>19,781</td></tr><tr><td>Minnesota</td><td>48,805</td><td>1,770</td><td>1,854</td><td>2,345</td><td>2,359</td><td>2,050</td><td>2,701</td><td>2,561</td><td>6,603</td><td>12,547</td><td>7,122</td><td>6,893</td></tr><tr><td>Mississippi</td><td>16,699</td><td>440</td><td>461</td><td>930</td><td>623</td><td>671</td><td>764</td><td>747</td><td>2,453</td><td>4,606</td><td>2,678</td><td>2,284</td></tr><tr><td>Missouri</td><td>71,799</td><td>3,413</td><td>4,069</td><td>4,791</td><td>4,141</td><td>3,264</td><td>3,719</td><td>3,226</td><td>12,387</td><td>15,687</td><td>8,856</td><td>8,244</td></tr><tr><td>Montana</td><td>13,315</td><td>375</td><td>396</td><td>555</td><td>484</td><td>616</td><td>829</td><td>883</td><td>2,616</td><td>2,950</td><td>1,787</td><td>1,823</td></tr><tr><td>Nebraska</td><td>17,914</td><td>669</td><td>716</td><td>850</td><td>740</td><td>830</td><td>896</td><td>868</td><td>2,387</td><td>4,161</td><td>2,738</td><td>3,058</td></tr><tr><td>Nevada</td><td>3,097</td><td>58</td><td>91</td><td>154</td><td>100</td><td>91</td><td>158</td><td>125</td><td>605</td><td>821</td><td>475</td><td>419</td></tr><tr><td>New Hampshire</td><td>8,190</td><td>318</td><td>277</td><td>444</td><td>367</td><td>335</td><td>409</td><td>367</td><td>1,019</td><td>2,258</td><td>1,351</td><td>1,045</td></tr><tr><td>New Jersey</td><td>123,263</td><td>4,951</td><td>4,953</td><td>5,879</td><td>5,209</td><td>6,642</td><td>6,311</td><td>5,807</td><td>21,447</td><td>31,895</td><td>16,092</td><td>14,076</td></tr><tr><td>New Mexico</td><td>4,829</td><td>110</td><td>133</td><td>168</td><td>210</td><td>236</td><td>307</td><td>236</td><td>902</td><td>1,246</td><td>672</td><td>609</td></tr><tr><td>New York</td><td>462,210</td><td>25,339</td><td>19,244</td><td>30,724</td><td>20,937</td><td>20,696</td><td>21,521</td><td>17,813</td><td>67,902</td><td>130,323</td><td>61,211</td><td>46,501</td></tr><tr><td>North Carolina</td><td>28,866</td><td>737</td><td>755</td><td>1,360</td><td>1,124</td><td>1,311</td><td>1,637</td><td>1,362</td><td>4,982</td><td>7,861</td><td>4,332</td><td>3,824</td></tr><tr><td>North Dakota</td><td>7,969</td><td>235</td><td>240</td><td>307</td><td>270</td><td>316</td><td>393</td><td>472</td><td>1,361</td><td>1,946</td><td>1,298</td><td>1,130</td></tr><tr><td>Ohio</td><td>136,961</td><td>5,169</td><td>5,716</td><td>7,218</td><td>6,554</td><td>5,684</td><td>6,655</td><td>6,173</td><td>21,311</td><td>37,244</td><td>17,680</td><td>17,556</td></tr><tr><td>Oklahoma</td><td>25,893</td><td>942</td><td>1,359</td><td>1,249</td><td>927</td><td>1,129</td><td>1,170</td><td>1,249</td><td>4,863</td><td>6,783</td><td>3,197</td><td>3,085</td></tr><tr><td>Oregon</td><td>28,733</td><td>1,380</td><td>1,774</td><td>1,530</td><td>1,382</td><td>1,611</td><td>1,504</td><td>1,425</td><td>3,713</td><td>6,714</td><td>4,383</td><td>3,318</td></tr><tr><td>Pennsylvania</td><td>203,352</td><td>6,955</td><td>7,488</td><td>8,636</td><td>11,896</td><td>10,239</td><td>8,551</td><td>8,671</td><td>35,124</td><td>53,995</td><td>26,552</td><td>25,245</td></tr><tr><td>Rhode Island</td><td>17,404</td><td>784</td><td>695</td><td>819</td><td>748</td><td>688</td><td>720</td><td>777</td><td>2,439</td><td>4,118</td><td>3,243</td><td>2,371</td></tr><tr><td>South Carolina</td><td>11,873</td><td>436</td><td>438</td><td>712</td><td>568</td><td>655</td><td>533</td><td>578</td><td>1,875</td><td>2,675</td><td>1,642</td><td>1,760</td></tr><tr><td>South Dakota</td><td>7,735</td><td>209</td><td>241</td><td>322</td><td>282</td><td>317</td><td>377</td><td>361</td><td>1,293</td><td>1,851</td><td>1,212</td><td>1,270</td></tr><tr><td>Tennessee</td><td>25,787</td><td>816</td><td>891</td><td>1,482</td><td>1,031</td><td>1,094</td><td>1,337</td><td>1,116</td><td>3,888</td><td>6,990</td><td>3,040</td><td>3,502</td></tr><tr><td>Texas</td><td>94,606</td><td>4,340</td><td>4,377</td><td>8,947</td><td>5,690</td><td>3,414</td><td>3,370</td><td>3,334</td><td>14,684</td><td>21,945</td><td>12,354</td><td>12,151</td></tr><tr><td>Utah</td><td>6,988</td><td>200</td><td>274</td><td>375</td><td>272</td><td>371</td><td>315</td><td>301</td><td>1,042</td><td>1,905</td><td>1,017</td><td>917</td></tr><tr><td>Vermont</td><td>5,794</td><td>270</td><td>216</td><td>370</td><td>280</td><td>270</td><td>286</td><td>262</td><td>636</td><td>1,533</td><td>1,059</td><td>613</td></tr><tr><td>Virginia</td><td>37,460</td><td>1,119</td><td>1,201</td><td>1,775</td><td>1,860</td><td>1,442</td><td>1,588</td><td>1,501</td><td>7,406</td><td>9,970</td><td>5,190</td><td>4,409</td></tr><tr><td>Washington</td><td>40,004</td><td>1,738</td><td>2,040</td><td>2,296</td><td>1,737</td><td>2,193</td><td>2,019</td><td>1,982</td><td>5,010</td><td>8,923</td><td>6,710</td><td>5,356</td></tr><tr><td>West Virginia</td><td>20,058</td><td>572</td><td>614</td><td>859</td><td>641</td><td>759</td><td>945</td><td>832</td><td>3,913</td><td>5,518</td><td>2,882</td><td>2,522</td></tr><tr><td>Wisconsin</td><td>55,345</td><td>2,035</td><td>2,572</td><td>2,769</td><td>2,258</td><td>2,359</td><td>2,710</td><td>2,521</td><td>9,005</td><td>14,029</td><td>7,575</td><td>7,511</td></tr><tr><td>Wyoming</td><td>5,177</td><td>154</td><td>184</td><td>228</td><td>187</td><td>231</td><td>245</td><td>280</td><td>1,007</td><td>1,275</td><td>701</td><td>684</td></tr><tr><td>Alaska</td><td>1,454</td><td>1</td><td>4</td><td>98</td><td>38</td><td>28</td><td>74</td><td>70</td><td>128</td><td>320</td><td>225</td><td>169</td></tr><tr><td>Canal Zone</td><td>106</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>106</td></tr><tr><td>Guam</td><td>5</td><td>-</td><td>-</td><td>2</td><td>-</td><td>2</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Hawaii</td><td>4,482</td><td>90</td><td>130</td><td>251</td><td>235</td><td>373</td><td>475</td><td>350</td><td>88</td><td>1,285</td><td>381</td><td>824</td></tr><tr><td>Philippine Islands</td><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>Puerto Rico</td><td>1,214</td><td>-</td><td>-</td><td>58</td><td>22</td><td>26</td><td>34</td><td>53</td><td>309</td><td>333</td><td>166</td><td>211</td></tr><tr><td>Samoa</td><td>3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Virgin Islands</td><td>63</td><td>-</td><td>-</td><td>6</td><td>-</td><td>-</td><td>1</td><td>5</td><td>2</td><td>23</td><td>11</td><td>15</td></tr><tr><td>U. S. Navy 2/</td><td>10,939</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>324</td><td>643</td><td>1,688</td><td>2,192</td><td>2,661</td><td>3,432</td></tr><tr><td>Total</td><td>2,575,604</td><td>100,581</td><td>102,517</td><td>144,105</td><td>118,825</td><td>112,782</td><td>121,961</td><td>111,370</td><td>402,585</td><td>667,372</td><td>365,974</td><td>327,531</td></tr></table>
(Continued on following page)
31
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 4.- Sales Reported by States - (Continued)
PART B - SERIES F
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th>Total May-Jan.</th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th><th>January</th></tr><tr><td>Alabama</td><td>2,578</td><td>458</td><td>147</td><td>142</td><td>85</td><td>243</td><td>197</td><td>170</td><td>490</td><td>646</td></tr><tr><td>Arizona</td><td>1,206</td><td>137</td><td>276</td><td>124</td><td>52</td><td>30</td><td>63</td><td>61</td><td>133</td><td>329</td></tr><tr><td>Arkansas</td><td>1,906</td><td>88</td><td>96</td><td>64</td><td>101</td><td>85</td><td>111</td><td>45</td><td>123</td><td>1,192</td></tr><tr><td>California</td><td>16,131</td><td>2,065</td><td>928</td><td>2,027</td><td>980</td><td>1,118</td><td>1,053</td><td>1,026</td><td>2,659</td><td>4,279</td></tr><tr><td>Colorado</td><td>3,447</td><td>408</td><td>176</td><td>360</td><td>138</td><td>123</td><td>192</td><td>122</td><td>307</td><td>1,623</td></tr><tr><td>Connecticut</td><td>6,894</td><td>1,076</td><td>680</td><td>704</td><td>482</td><td>481</td><td>432</td><td>494</td><td>822</td><td>1,723</td></tr><tr><td>Delaware</td><td>1,332</td><td>213</td><td>122</td><td>59</td><td>149</td><td>52</td><td>79</td><td>30</td><td>127</td><td>501</td></tr><tr><td>District of Columbia</td><td>3,761</td><td>644</td><td>272</td><td>421</td><td>508</td><td>183</td><td>310</td><td>143</td><td>596</td><td>686</td></tr><tr><td>Florida</td><td>3,367</td><td>653</td><td>230</td><td>298</td><td>233</td><td>224</td><td>172</td><td>171</td><td>573</td><td>807</td></tr><tr><td>Georgia</td><td>3,210</td><td>529</td><td>280</td><td>230</td><td>298</td><td>240</td><td>242</td><td>137</td><td>562</td><td>752</td></tr><tr><td>Idaho</td><td>528</td><td>11</td><td>22</td><td>33</td><td>6</td><td>25</td><td>67</td><td>57</td><td>155</td><td>152</td></tr><tr><td>Illinois</td><td>29,094</td><td>5,375</td><td>1,657</td><td>2,468</td><td>1,753</td><td>1,475</td><td>2,103</td><td>1,491</td><td>4,899</td><td>7,073</td></tr><tr><td>Indiana</td><td>7,155</td><td>635</td><td>449</td><td>703</td><td>365</td><td>663</td><td>580</td><td>370</td><td>1,175</td><td>2,225</td></tr><tr><td>Iowa</td><td>3,990</td><td>851</td><td>261</td><td>272</td><td>261</td><td>265</td><td>256</td><td>198</td><td>626</td><td>1,000</td></tr><tr><td>Kansas</td><td>1,865</td><td>187</td><td>79</td><td>135</td><td>118</td><td>206</td><td>210</td><td>143</td><td>268</td><td>519</td></tr><tr><td>Kentucky</td><td>2,596</td><td>414</td><td>209</td><td>278</td><td>226</td><td>342</td><td>203</td><td>141</td><td>262</td><td>520</td></tr><tr><td>Louisiana</td><td>3,539</td><td>626</td><td>179</td><td>161</td><td>200</td><td>97</td><td>195</td><td>184</td><td>679</td><td>1,317</td></tr><tr><td>Maine</td><td>954</td><td>79</td><td>94</td><td>61</td><td>61</td><td>71</td><td>51</td><td>70</td><td>168</td><td>300</td></tr><tr><td>Maryland</td><td>4,166</td><td>1,339</td><td>260</td><td>226</td><td>240</td><td>334</td><td>311</td><td>303</td><td>673</td><td>580</td></tr><tr><td>Massachusetts</td><td>13,760</td><td>2,716</td><td>918</td><td>1,054</td><td>787</td><td>1,012</td><td>1,025</td><td>804</td><td>1,855</td><td>3,579</td></tr><tr><td>Michigan</td><td>13,930</td><td>2,049</td><td>1,033</td><td>1,059</td><td>1,118</td><td>958</td><td>996</td><td>778</td><td>2,486</td><td>3,454</td></tr><tr><td>Minnesota</td><td>6,312</td><td>1,201</td><td>332</td><td>493</td><td>483</td><td>462</td><td>408</td><td>357</td><td>887</td><td>1,609</td></tr><tr><td>Mississippi</td><td>1,343</td><td>191</td><td>117</td><td>164</td><td>72</td><td>131</td><td>62</td><td>26</td><td>237</td><td>345</td></tr><tr><td>Missouri</td><td>9,644</td><td>2,322</td><td>790</td><td>839</td><td>898</td><td>673</td><td>593</td><td>550</td><td>1,293</td><td>1,887</td></tr><tr><td>Montana</td><td>1,238</td><td>155</td><td>88</td><td>54</td><td>51</td><td>51</td><td>140</td><td>34</td><td>194</td><td>472</td></tr><tr><td>Nebraska</td><td>2,805</td><td>509</td><td>243</td><td>180</td><td>30</td><td>137</td><td>115</td><td>220</td><td>241</td><td>1,130</td></tr><tr><td>Nevada</td><td>209</td><td>15</td><td>41</td><td>14</td><td>20</td><td>14</td><td>3</td><td>6</td><td>27</td><td>84</td></tr><tr><td>New Hampshire</td><td>918</td><td>61</td><td>83</td><td>39</td><td>50</td><td>19</td><td>81</td><td>29</td><td>132</td><td>424</td></tr><tr><td>New Jersey</td><td>9,726</td><td>1,484</td><td>967</td><td>1,068</td><td>462</td><td>688</td><td>967</td><td>646</td><td>1,761</td><td>1,663</td></tr><tr><td>New Mexico</td><td>681</td><td>10</td><td>2</td><td>48</td><td>14</td><td>1</td><td>28</td><td>22</td><td>105</td><td>450</td></tr><tr><td>New York</td><td>55,314</td><td>11,904</td><td>4,697</td><td>5,649</td><td>2,655</td><td>3,388</td><td>3,893</td><td>3,289</td><td>9,131</td><td>10,708</td></tr><tr><td>North Carolina</td><td>7,966</td><td>346</td><td>167</td><td>220</td><td>268</td><td>207</td><td>177</td><td>253</td><td>648</td><td>5,680</td></tr><tr><td>North Dakota</td><td>779</td><td>86</td><td>18</td><td>35</td><td>31</td><td>49</td><td>16</td><td>28</td><td>45</td><td>473</td></tr><tr><td>Ohio</td><td>19,703</td><td>3,412</td><td>1,339</td><td>1,572</td><td>1,071</td><td>1,246</td><td>1,713</td><td>1,326</td><td>3,298</td><td>4,725</td></tr><tr><td>Oklahoma</td><td>4,476</td><td>715</td><td>155</td><td>478</td><td>297</td><td>449</td><td>164</td><td>208</td><td>794</td><td>1,217</td></tr><tr><td>Oregon</td><td>2,504</td><td>341</td><td>179</td><td>247</td><td>199</td><td>209</td><td>216</td><td>119</td><td>422</td><td>573</td></tr><tr><td>Pennsylvania</td><td>28,623</td><td>4,358</td><td>2,520</td><td>2,274</td><td>1,435</td><td>1,468</td><td>2,768</td><td>1,986</td><td>4,372</td><td>7,442</td></tr><tr><td>Rhode Island</td><td>2,610</td><td>430</td><td>211</td><td>152</td><td>131</td><td>87</td><td>57</td><td>189</td><td>485</td><td>869</td></tr><tr><td>South Carolina</td><td>1,693</td><td>334</td><td>144</td><td>167</td><td>144</td><td>78</td><td>91</td><td>124</td><td>238</td><td>372</td></tr><tr><td>South Dakota</td><td>450</td><td>37</td><td>49</td><td>3</td><td>10</td><td>20</td><td>23</td><td>24</td><td>82</td><td>204</td></tr><tr><td>Tennessee</td><td>1,645</td><td>106</td><td>166</td><td>151</td><td>116</td><td>61</td><td>98</td><td>152</td><td>225</td><td>570</td></tr><tr><td>Texas</td><td>8,618</td><td>1,081</td><td>509</td><td>639</td><td>482</td><td>548</td><td>459</td><td>466</td><td>2,009</td><td>2,425</td></tr><tr><td>Utah</td><td>1,022</td><td>195</td><td>30</td><td>75</td><td>76</td><td>42</td><td>43</td><td>93</td><td>39</td><td>428</td></tr><tr><td>Vermont</td><td>813</td><td>232</td><td>51</td><td>57</td><td>18</td><td>15</td><td>36</td><td>17</td><td>166</td><td>221</td></tr><tr><td>Virginia</td><td>4,146</td><td>415</td><td>119</td><td>251</td><td>213</td><td>235</td><td>289</td><td>298</td><td>945</td><td>1,380</td></tr><tr><td>Washington</td><td>4,139</td><td>606</td><td>324</td><td>260</td><td>317</td><td>382</td><td>317</td><td>239</td><td>669</td><td>1,025</td></tr><tr><td>West Virginia</td><td>2,108</td><td>199</td><td>72</td><td>188</td><td>99</td><td>62</td><td>121</td><td>116</td><td>686</td><td>565</td></tr><tr><td>Wisconsin</td><td>9,314</td><td>1,195</td><td>656</td><td>721</td><td>356</td><td>478</td><td>379</td><td>372</td><td>1,008</td><td>4,147</td></tr><tr><td>Wyoming</td><td>544</td><td>18</td><td>27</td><td>26</td><td>10</td><td>29</td><td>17</td><td>28</td><td>70</td><td>321</td></tr><tr><td>Alaska</td><td>126</td><td>1</td><td>1</td><td>1</td><td>1</td><td>3</td><td>7</td><td>11</td><td>38</td><td>76</td></tr><tr><td>Canal Zone</td><td>62</td><td>1</td><td>2</td><td>5</td><td>15</td><td>1</td><td>1</td><td>3</td><td>21</td><td>12</td></tr><tr><td>Guam</td><td>2</td><td>2</td><td>9</td><td>46</td><td>48</td><td>35</td><td>50</td><td>23</td><td>62</td><td>98</td></tr><tr><td>Hawaii</td><td>372</td><td>4</td><td>22</td><td>44</td><td>55</td><td>3</td><td>4</td><td>15</td><td>37</td><td>134</td></tr><tr><td>Philippine Islands</td><td>317</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>31</td><td>1</td><td>10</td><td>14</td></tr><tr><td>Puerto Rico</td><td>57</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Samoa</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Virgin Islands</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Undesignated</td><td>242</td><td>81</td><td>4</td><td>4</td><td>1</td><td>1</td><td>1</td><td>28</td><td>11</td><td>112</td></tr><tr><td>Total</td><td>316,241</td><td>52,595</td><td>22,404</td><td>27,069</td><td>18,210</td><td>19,494</td><td>22,213</td><td>18,232</td><td>50,043</td><td>85,979</td></tr></table>
(Continued on following page)
32
Sales of United States Savings Bonds Beginning May 1941 - (Continued)
Table 4.- Sales Reported by States - (Continued)
PART C - SERIES G
(in thousands of dollars at issue prices)
<table><tr><th>State</th><th>Total May-Jan.</th><th colspan="7">1941</th><th colspan="2">1942</th></tr><tr><th></th><th></th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th><th>January</th></tr><tr><td>Alabama</td><td>6,198</td><td>1,344</td><td>444</td><td>457</td><td>522</td><td>436</td><td>366</td><td>326</td><td>742</td><td>1,561</td></tr><tr><td>Arizona</td><td>1,876</td><td>270</td><td>267</td><td>194</td><td>189</td><td>104</td><td>83</td><td>46</td><td>345</td><td>377</td></tr><tr><td>Arkansas</td><td>6,975</td><td>396</td><td>444</td><td>373</td><td>257</td><td>215</td><td>253</td><td>342</td><td>494</td><td>4,171</td></tr><tr><td>California</td><td>90,100</td><td>10,374</td><td>7,034</td><td>9,672</td><td>7,213</td><td>6,710</td><td>6,257</td><td>5,560</td><td>12,891</td><td>24,388</td></tr><tr><td>Colorado</td><td>11,407</td><td>2,567</td><td>758</td><td>1,082</td><td>665</td><td>535</td><td>697</td><td>700</td><td>1,070</td><td>3,533</td></tr><tr><td>Connecticut</td><td>42,386</td><td>9,072</td><td>4,109</td><td>4,088</td><td>3,631</td><td>2,464</td><td>3,210</td><td>2,811</td><td>4,015</td><td>6,187</td></tr><tr><td>Delaware</td><td>7,443</td><td>1,259</td><td>930</td><td>710</td><td>636</td><td>842</td><td>471</td><td>593</td><td>866</td><td>1,536</td></tr><tr><td>District of Columbia</td><td>15,347</td><td>3,172</td><td>1,079</td><td>1,379</td><td>817</td><td>780</td><td>1,171</td><td>658</td><td>2,956</td><td>3,336</td></tr><tr><td>Florida</td><td>12,356</td><td>1,617</td><td>879</td><td>1,211</td><td>891</td><td>726</td><td>999</td><td>782</td><td>1,900</td><td>3,391</td></tr><tr><td>Georgia</td><td>8,925</td><td>1,579</td><td>551</td><td>716</td><td>1,005</td><td>576</td><td>458</td><td>526</td><td>1,334</td><td>2,150</td></tr><tr><td>Idaho</td><td>3,538</td><td>195</td><td>63</td><td>414</td><td>166</td><td>124</td><td>91</td><td>68</td><td>398</td><td>2,019</td></tr><tr><td>Illinois</td><td>154,589</td><td>40,005</td><td>12,569</td><td>12,882</td><td>10,889</td><td>10,650</td><td>9,337</td><td>8,969</td><td>16,479</td><td>32,610</td></tr><tr><td>Indiana</td><td>22,660</td><td>3,475</td><td>1,727</td><td>2,580</td><td>1,475</td><td>1,890</td><td>1,536</td><td>1,781</td><td>2,908</td><td>6,087</td></tr><tr><td>Iowa</td><td>14,679</td><td>2,325</td><td>1,061</td><td>1,039</td><td>1,110</td><td>825</td><td>1,099</td><td>991</td><td>2,504</td><td>3,728</td></tr><tr><td>Kansas</td><td>8,165</td><td>1,512</td><td>681</td><td>663</td><td>729</td><td>605</td><td>758</td><td>449</td><td>1,110</td><td>1,678</td></tr><tr><td>Kentucky</td><td>15,242</td><td>2,628</td><td>1,104</td><td>1,650</td><td>1,327</td><td>1,013</td><td>1,134</td><td>1,291</td><td>1,676</td><td>3,492</td></tr><tr><td>Louisiana</td><td>7,359</td><td>1,228</td><td>444</td><td>710</td><td>266</td><td>395</td><td>361</td><td>630</td><td>1,119</td><td>2,206</td></tr><tr><td>Maine</td><td>12,135</td><td>2,598</td><td>1,202</td><td>1,103</td><td>1,063</td><td>821</td><td>899</td><td>705</td><td>1,309</td><td>2,434</td></tr><tr><td>Maryland</td><td>25,016</td><td>3,092</td><td>2,109</td><td>1,684</td><td>1,448</td><td>1,356</td><td>2,193</td><td>2,234</td><td>3,377</td><td>6,923</td></tr><tr><td>Massachusetts</td><td>109,651</td><td>22,780</td><td>8,672</td><td>12,555</td><td>9,539</td><td>6,668</td><td>9,188</td><td>7,532</td><td>10,618</td><td>22,101</td></tr><tr><td>Michigan</td><td>36,789</td><td>6,792</td><td>4,055</td><td>4,278</td><td>2,823</td><td>2,697</td><td>2,528</td><td>2,122</td><td>5,895</td><td>7,606</td></tr><tr><td>Minnesota</td><td>34,337</td><td>5,316</td><td>2,921</td><td>3,183</td><td>2,732</td><td>2,881</td><td>3,875</td><td>1,955</td><td>3,509</td><td>7,966</td></tr><tr><td>Mississippi</td><td>4,178</td><td>322</td><td>344</td><td>398</td><td>174</td><td>350</td><td>236</td><td>213</td><td>503</td><td>1,631</td></tr><tr><td>Missouri</td><td>53,918</td><td>15,057</td><td>5,783</td><td>5,326</td><td>3,860</td><td>2,550</td><td>3,884</td><td>3,853</td><td>6,106</td><td>8,099</td></tr><tr><td>Montana</td><td>2,952</td><td>825</td><td>144</td><td>161</td><td>353</td><td>294</td><td>230</td><td>311</td><td>388</td><td>585</td></tr><tr><td>Nebraska</td><td>8,434</td><td>1,902</td><td>669</td><td>595</td><td>477</td><td>475</td><td>401</td><td>346</td><td>837</td><td>2,532</td></tr><tr><td>Nevada</td><td>1,101</td><td>143</td><td>196</td><td>116</td><td>84</td><td>52</td><td>84</td><td>11</td><td>180</td><td>296</td></tr><tr><td>New Hampshire</td><td>6,939</td><td>1,327</td><td>425</td><td>479</td><td>450</td><td>474</td><td>439</td><td>334</td><td>718</td><td>2,294</td></tr><tr><td>New Jersey</td><td>61,127</td><td>12,335</td><td>5,614</td><td>5,324</td><td>3,900</td><td>4,108</td><td>4,677</td><td>3,628</td><td>9,110</td><td>12,831</td></tr><tr><td>New Mexico</td><td>3,895</td><td>384</td><td>18</td><td>45</td><td>57</td><td>143</td><td>175</td><td>30</td><td>266</td><td>2,776</td></tr><tr><td>New York</td><td>443,793</td><td>85,832</td><td>39,409</td><td>46,717</td><td>31,126</td><td>30,441</td><td>35,674</td><td>27,694</td><td>47,587</td><td>97,013</td></tr><tr><td>North Carolina</td><td>10,180</td><td>1,800</td><td>543</td><td>645</td><td>723</td><td>639</td><td>1,132</td><td>844</td><td>1,260</td><td>2,892</td></tr><tr><td>North Dakota</td><td>8,635</td><td>632</td><td>226</td><td>424</td><td>70</td><td>103</td><td>129</td><td>113</td><td>279</td><td>658</td></tr><tr><td>Ohio</td><td>78,615</td><td>11,430</td><td>5,665</td><td>6,634</td><td>4,693</td><td>4,763</td><td>5,927</td><td>5,006</td><td>10,341</td><td>17,735</td></tr><tr><td>Oklahoma</td><td>7,148</td><td>1,002</td><td>453</td><td>737</td><td>427</td><td>439</td><td>410</td><td>409</td><td>1,358</td><td>1,914</td></tr><tr><td>Oregon</td><td>18,098</td><td>1,622</td><td>380</td><td>1,200</td><td>1,632</td><td>981</td><td>963</td><td>991</td><td>1,389</td><td>3,300</td></tr><tr><td>Pennsylvania</td><td>166,387</td><td>27,022</td><td>15,646</td><td>17,469</td><td>12,145</td><td>13,909</td><td>14,086</td><td>12,334</td><td>19,859</td><td>34,266</td></tr><tr><td>Rhode Island</td><td>19,445</td><td>3,704</td><td>1,578</td><td>1,363</td><td>1,592</td><td>1,188</td><td>2,198</td><td>1,198</td><td>3,069</td><td>3,754</td></tr><tr><td>South Carolina</td><td>4,649</td><td>783</td><td>360</td><td>703</td><td>339</td><td>173</td><td>160</td><td>211</td><td>716</td><td>1,204</td></tr><tr><td>South Dakota</td><td>1,149</td><td>61</td><td>48</td><td>92</td><td>101</td><td>115</td><td>120</td><td>102</td><td>230</td><td>291</td></tr><tr><td>Tennessee</td><td>11,518</td><td>1,818</td><td>1,038</td><td>1,263</td><td>675</td><td>665</td><td>770</td><td>526</td><td>1,325</td><td>3,440</td></tr><tr><td>Texas</td><td>31,431</td><td>6,214</td><td>2,520</td><td>2,748</td><td>1,779</td><td>1,454</td><td>1,748</td><td>1,347</td><td>5,436</td><td>8,186</td></tr><tr><td>Utah</td><td>1,346</td><td>485</td><td>290</td><td>220</td><td>102</td><td>32</td><td>118</td><td>177</td><td>105</td><td>417</td></tr><tr><td>Vermont</td><td>3,612</td><td>245</td><td>182</td><td>483</td><td>258</td><td>182</td><td>312</td><td>125</td><td>264</td><td>1,261</td></tr><tr><td>Virginia</td><td>17,536</td><td>2,772</td><td>1,226</td><td>1,168</td><td>828</td><td>984</td><td>1,303</td><td>1,230</td><td>3,938</td><td>4,087</td></tr><tr><td>Washington</td><td>17,354</td><td>3,635</td><td>1,704</td><td>2,058</td><td>1,357</td><td>1,024</td><td>849</td><td>878</td><td>1,952</td><td>4,098</td></tr><tr><td>West Virginia</td><td>5,588</td><td>735</td><td>487</td><td>556</td><td>269</td><td>432</td><td>400</td><td>216</td><td>1,178</td><td>1,414</td></tr><tr><td>Wisconsin</td><td>26,454</td><td>4,333</td><td>2,306</td><td>2,214</td><td>1,614</td><td>1,825</td><td>1,047</td><td>1,470</td><td>4,098</td><td>6,745</td></tr><tr><td>Wyoming</td><td>1,948</td><td>403</td><td>52</td><td>355</td><td>46</td><td>26</td><td>28</td><td>62</td><td>288</td><td>686</td></tr><tr><td>Alaska</td><td>113</td><td>10</td><td>9</td><td>12</td><td>22</td><td>12</td><td>3</td><td>10</td><td>15</td><td>20</td></tr><tr><td>Canal Zone</td><td>245</td><td>50</td><td>41</td><td>32</td><td>3</td><td>26</td><td>10</td><td>3</td><td>10</td><td>70</td></tr><tr><td>Guam</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Hawaii</td><td>2,255</td><td>2</td><td>34</td><td>232</td><td>192</td><td>322</td><td>330</td><td>189</td><td>206</td><td>748</td></tr><tr><td>Philippine Islands</td><td>61</td><td></td><td>8</td><td>15</td><td>2</td><td>5</td><td>10</td><td>3</td><td>14</td><td>5</td></tr><tr><td>Puerto Rico</td><td>148</td><td></td><td>2</td><td>1</td><td></td><td></td><td>42</td><td>22</td><td>29</td><td>54</td></tr><tr><td>Samoa</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Virgin Islands</td><td>6</td><td></td><td></td><td></td><td></td><td>5</td><td></td><td></td><td></td><td>1</td></tr><tr><td>Undesignated</td><td>2,049</td><td>234</td><td>141</td><td>50</td><td>51</td><td></td><td>14</td><td>8</td><td>132</td><td>1,419</td></tr><tr><td>Total</td><td>1,653,474</td><td>310,292</td><td>141,016</td><td>162,850</td><td>117,972</td><td>111,485</td><td>125,712</td><td>104,483</td><td>201,425</td><td>376,185</td></tr></table>
Sources: Reports of gross sales, p. Preliminary. ° Less than $500.
1/ Data are not available on a sales reported basis prior to July; consequently May and June data are on a funds received basis with the breakdown estimated on the basis of available sales data.
2/ Comprises sales made through the United States Navy directly.
33
Sales of Postal Savings Stamps Beginning May 1, 1941
Table 1.- Summary
(In thousands of dollars)
<table><tr><th>Month</th><th>Amount outstanding end of month 1/</th><th>Net change during month</th><th colspan="2">Analysis of net change</th></tr><tr><th></th><th></th><th></th><th>Gross sales</th><th>Redemptions</th></tr><tr><td>1941-May.</td><td>3,235</td><td>+3,085</td><td>3,349</td><td>264</td></tr><tr><td>June.</td><td>5,294</td><td>+2,059</td><td>2,738</td><td>679</td></tr><tr><td>July.</td><td>7,655</td><td>+2,362</td><td>3,520</td><td>1,158</td></tr><tr><td>August.</td><td>10,466</td><td>+2,810</td><td>4,372</td><td>1,562</td></tr><tr><td>September.</td><td>13,627</td><td>+3,162</td><td>5,192</td><td>2,030</td></tr><tr><td>October.</td><td>17,001</td><td>+3,374</td><td>5,985</td><td>2,611</td></tr><tr><td>November.</td><td>20,428</td><td>+3,426</td><td>6,354</td><td>2,928</td></tr><tr><td>December.</td><td>39,434</td><td>+19,006</td><td>25,657</td><td>6,651</td></tr><tr><td>1942-January.</td><td>68,595</td><td>+29,161</td><td>11,169</td><td>12,007</td></tr><tr><td>February.</td><td>93,932</td><td>+25,337</td><td>38,649</td><td>13,313</td></tr><tr><td>March p.</td><td>115,255</td><td>+21,323</td><td>39,976</td><td>18,653</td></tr><tr><td>April p.</td><td>131,676</td><td>+16,420</td><td>40,610</td><td>24,190</td></tr><tr><td>Total May-April.</td><td>-</td><td>+131,526</td><td>217,572</td><td>86,047</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p Preliminary.
1/ Postal savings stamps are obligations of the Postal Savings System and not public debt obligations.
Table 2.- Gross Sales, Classified by Denomination
<table><tr><th rowspan="2">Month</th><th colspan="6">Sales in thousands of dollars</th><th colspan="6">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>10¢</th><th>25¢</th><th>50¢</th><th>$1.00</th><th>$5.00</th><th>Total all denominations</th><th>10¢</th><th>25¢</th><th>50¢</th><th>$1.00</th><th>$5.00</th></tr><tr><td>1941-May</td><td>$3,349</td><td>244</td><td>1,293</td><td>585</td><td>673</td><td>555</td><td>100.0</td><td>7.3</td><td>38.6</td><td>17.4</td><td>20.1</td><td>16.6</td></tr><tr><td>June</td><td>2,738</td><td>156</td><td>1,399</td><td>427</td><td>457</td><td>299</td><td>100.0</td><td>5.7</td><td>51.1</td><td>15.6</td><td>16.7</td><td>10.9</td></tr><tr><td>July</td><td>3,520</td><td>174</td><td>1,965</td><td>555</td><td>571</td><td>255</td><td>100.0</td><td>4.9</td><td>55.8</td><td>15.8</td><td>16.2</td><td>7.3</td></tr><tr><td>August</td><td>4,372</td><td>262</td><td>2,488</td><td>599</td><td>751</td><td>274</td><td>100.0</td><td>6.0</td><td>56.9</td><td>13.7</td><td>17.2</td><td>6.2</td></tr><tr><td>September</td><td>5,192</td><td>412</td><td>3,087</td><td>699</td><td>687</td><td>347</td><td>100.0</td><td>7.9</td><td>59.5</td><td>12.7</td><td>13.2</td><td>6.7</td></tr><tr><td>October</td><td>5,985</td><td>466</td><td>3,632</td><td>758</td><td>787</td><td>342</td><td>100.0</td><td>7.8</td><td>60.7</td><td>12.7</td><td>13.1</td><td>5.7</td></tr><tr><td>November</td><td>6,354</td><td>580</td><td>3,749</td><td>788</td><td>847</td><td>391</td><td>100.0</td><td>9.1</td><td>59.0</td><td>12.4</td><td>13.3</td><td>6.2</td></tr><tr><td>December</td><td>25,657</td><td>5,353</td><td>13,255</td><td>2,491</td><td>2,636</td><td>1,922</td><td>100.0</td><td>20.8</td><td>51.7</td><td>9.7</td><td>10.3</td><td>7.5</td></tr><tr><td>1942-January</td><td>41,169</td><td>11,044</td><td>21,498</td><td>3,579</td><td>3,653</td><td>1,395</td><td>100.0</td><td>26.8</td><td>52.2</td><td>8.7</td><td>8.9</td><td>3.4</td></tr><tr><td>February</td><td>38,649</td><td>10,020</td><td>20,724</td><td>3,258</td><td>3,333</td><td>1,314</td><td>100.0</td><td>25.9</td><td>53.6</td><td>8.5</td><td>8.6</td><td>3.4</td></tr><tr><td>March p</td><td>39,976</td><td>10,025</td><td>21,360</td><td>3,371</td><td>3,786</td><td>1,434</td><td>100.0</td><td>25.1</td><td>53.4</td><td>8.4</td><td>9.5</td><td>3.6</td></tr><tr><td>April p</td><td>40,610</td><td>9,919</td><td>21,763</td><td>3,496</td><td>3,868</td><td>1,564</td><td>100.0</td><td>24.4</td><td>53.6</td><td>8.6</td><td>9.5</td><td>3.9</td></tr><tr><td>Total May-April</td><td>217,572</td><td>48,655</td><td>116,210</td><td>20,567</td><td>22,049</td><td>10,091</td><td>100.0</td><td>22.4</td><td>53.4</td><td>9.5</td><td>10.1</td><td>4.6</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p. Preliminary.
Table 3.- Redemptions, Classified by Means of Payment
<table><tr><th rowspan="2">Month</th><th colspan="4">Redemptions in thousands of dollars</th><th colspan="4">Percentage distribution of redemptions</th></tr><tr><th>Total</th><th>Exchanged for United States savings bonds</th><th>Exchanged for Postal savings certificates</th><th>Cash</th><th>Total</th><th>Exchanged for United States savings bonds</th><th>Exchanged for Postal savings certificates</th><th>Cash</th></tr><tr><td>1941-May 1/June 1/</td><td>204<br>679</td><td></td><td></td><td></td><td>100.0<br>100.0</td><td></td><td></td><td></td></tr><tr><td>July 1/</td><td>1,158</td><td></td><td></td><td></td><td>100.0</td><td></td><td></td><td></td></tr><tr><td>August</td><td>1,562</td><td>1,151</td><td>14</td><td>397</td><td>100.0</td><td>73.7</td><td>.9</td><td>25.4</td></tr><tr><td>September</td><td>2,030</td><td>1,539</td><td>10</td><td>481</td><td>100.0</td><td>75.8</td><td>.5</td><td>23.7</td></tr><tr><td>October</td><td>2,611</td><td>2,027</td><td>11</td><td>574</td><td>100.0</td><td>77.6</td><td>.4</td><td>22.0</td></tr><tr><td>November</td><td>2,928</td><td>2,274</td><td>9</td><td>645</td><td>100.0</td><td>77.7</td><td>.3</td><td>22.0</td></tr><tr><td>December</td><td>6,651</td><td>5,225</td><td>8</td><td>1,417</td><td>100.0</td><td>78.6</td><td>.1</td><td>21.3</td></tr><tr><td>1942-January</td><td>12,007</td><td>9,683</td><td>8</td><td>2,316</td><td>100.0</td><td>80.6</td><td>.1</td><td>19.3</td></tr><tr><td>February</td><td>13,313</td><td>11,253</td><td>12</td><td>2,048</td><td>100.0</td><td>84.5</td><td>.1</td><td>15.4</td></tr><tr><td>March p.</td><td>18,653</td><td>16,525</td><td>9</td><td>2,119</td><td>100.0</td><td>88.6</td><td>*</td><td>11.4</td></tr><tr><td>April p.</td><td>24,190</td><td>21,544</td><td>21</td><td>2,625</td><td>100.0</td><td>89.1</td><td>.1</td><td>10.8</td></tr><tr><td>Total Aug.-April</td><td>83,945</td><td>71,220</td><td>102</td><td>12,624</td><td>100.0</td><td>84.9</td><td>.1</td><td>15.0</td></tr><tr><td>Total May-April 1/</td><td>66,047</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p Preliminary. * Less than .05%.
1/ Detail by means of payment not available for May, June, and July 1941.
34
Sales of Postal Savings Stamps Beginning May 1941 - (Continued)
Table 4.- Gross Sales by States
(In thousands of dollars)
<table><tr><th>State</th><th>Total May-April</th><th colspan="8">1941</th><th colspan="5">1942</th></tr><tr><th></th><th></th><th>May</th><th>June</th><th>July</th><th>August</th><th>September</th><th>October</th><th>November</th><th>December</th><th>January</th><th>February</th><th>March P</th><th>April P</th></tr><tr><td>Alabama</td><td>1,583.0</td><td>21.6</td><td>17.1</td><td>25.0</td><td>27.7</td><td>30.8</td><td>36.4</td><td>42.7</td><td>197.8</td><td>323.3</td><td>260.4</td><td>305.5</td><td>294.7</td></tr><tr><td>Arizona</td><td>586.2</td><td>8.9</td><td>7.1</td><td>9.0</td><td>11.2</td><td>13.2</td><td>13.2</td><td>15.4</td><td>70.4</td><td>114.3</td><td>100.3</td><td>114.5</td><td>108.7</td></tr><tr><td>Arkansas</td><td>1,053.7</td><td>14.1</td><td>10.7</td><td>13.7</td><td>17.2</td><td>14.1</td><td>27.8</td><td>36.0</td><td>115.6</td><td>201.4</td><td>190.9</td><td>190.9</td><td>221.2</td></tr><tr><td>California</td><td>14,136.5</td><td>252.9</td><td>175.1</td><td>237.4</td><td>327.3</td><td>334.4</td><td>374.4</td><td>380.9</td><td>1,878.3</td><td>2,784.6</td><td>2,366.8</td><td>2,545.4</td><td>2,478.9</td></tr><tr><td>Colorado</td><td>1,423.8</td><td>17.0</td><td>13.3</td><td>20.2</td><td>29.9</td><td>31.9</td><td>41.7</td><td>50.9</td><td>204.9</td><td>269.3</td><td>241.2</td><td>237.2</td><td>266.3</td></tr><tr><td>Connecticut</td><td>5,330.1</td><td>65.4</td><td>75.1</td><td>111.5</td><td>133.6</td><td>155.5</td><td>188.8</td><td>196.6</td><td>599.1</td><td>1,006.4</td><td>902.0</td><td>943.2</td><td>952.7</td></tr><tr><td>Delaware</td><td>501.3</td><td>8.0</td><td>6.4</td><td>9.2</td><td>10.5</td><td>12.5</td><td>13.4</td><td>12.7</td><td>63.3</td><td>93.3</td><td>86.4</td><td>93.9</td><td>91.5</td></tr><tr><td>District of Columbia</td><td>4,895.5</td><td>90.4</td><td>83.7</td><td>155.0</td><td>237.5</td><td>296.9</td><td>320.1</td><td>358.5</td><td>580.4</td><td>771.3</td><td>694.5</td><td>656.7</td><td>650.4</td></tr><tr><td>Florida</td><td>2,948.0</td><td>44.7</td><td>30.2</td><td>47.8</td><td>59.6</td><td>68.0</td><td>78.1</td><td>85.7</td><td>298.2</td><td>497.7</td><td>483.7</td><td>444.2</td><td>810.1</td></tr><tr><td>Georgia</td><td>2,217.2</td><td>33.1</td><td>27.3</td><td>40.5</td><td>52.1</td><td>60.1</td><td>68.1</td><td>64.1</td><td>275.1</td><td>476.2</td><td>372.2</td><td>407.8</td><td>340.6</td></tr><tr><td>Idaho</td><td>573.9</td><td>4.3</td><td>3.8</td><td>4.9</td><td>8.0</td><td>23.7</td><td>18.2</td><td>21.3</td><td>79.2</td><td>110.7</td><td>96.5</td><td>94.0</td><td>109.3</td></tr><tr><td>Illinois</td><td>16,206.9</td><td>177.7</td><td>177.4</td><td>222.4</td><td>340.5</td><td>319.7</td><td>375.7</td><td>412.3</td><td>2,075.9</td><td>3,391.5</td><td>2,999.2</td><td>2,949.2</td><td>2,765.5</td></tr><tr><td>Indiana</td><td>5,225.9</td><td>35.6</td><td>34.2</td><td>49.5</td><td>69.5</td><td>82.4</td><td>99.0</td><td>112.1</td><td>586.9</td><td>1,027.8</td><td>1,016.5</td><td>1,078.6</td><td>1,033.8</td></tr><tr><td>Iowa</td><td>3,092.1</td><td>25.9</td><td>24.1</td><td>34.7</td><td>36.3</td><td>48.7</td><td>49.9</td><td>50.0</td><td>315.5</td><td>540.4</td><td>546.3</td><td>712.8</td><td>707.6</td></tr><tr><td>Kansas</td><td>1,778.7</td><td>22.2</td><td>18.1</td><td>27.4</td><td>35.0</td><td>31.5</td><td>37.3</td><td>40.4</td><td>212.7</td><td>349.7</td><td>360.2</td><td>330.0</td><td>314.1</td></tr><tr><td>Kentucky</td><td>2,218.7</td><td>25.6</td><td>17.2</td><td>27.0</td><td>30.8</td><td>49.6</td><td>53.5</td><td>51.5</td><td>283.3</td><td>444.9</td><td>417.3</td><td>425.7</td><td>392.3</td></tr><tr><td>Louisiana</td><td>2,302.0</td><td>34.8</td><td>27.2</td><td>41.5</td><td>40.7</td><td>43.9</td><td>50.8</td><td>49.6</td><td>254.2</td><td>421.8</td><td>438.7</td><td>438.3</td><td>460.4</td></tr><tr><td>Maine</td><td>1,190.5</td><td>19.6</td><td>17.6</td><td>23.6</td><td>27.6</td><td>28.8</td><td>40.3</td><td>43.7</td><td>120.4</td><td>216.7</td><td>201.9</td><td>232.1</td><td>218.2</td></tr><tr><td>Maryland</td><td>4,298.3</td><td>48.9</td><td>42.7</td><td>57.4</td><td>70.4</td><td>88.3</td><td>107.8</td><td>110.3</td><td>472.9</td><td>1,110.8</td><td>782.4</td><td>725.2</td><td>681.3</td></tr><tr><td>Massachusetts</td><td>10,125.0</td><td>172.2</td><td>139.9</td><td>186.2</td><td>224.4</td><td>293.3</td><td>331.3</td><td>337.8</td><td>1,119.6</td><td>1,864.4</td><td>1,710.0</td><td>1,862.0</td><td>1,883.7</td></tr><tr><td>Michigan</td><td>9,755.8</td><td>180.8</td><td>186.0</td><td>205.8</td><td>202.3</td><td>266.9</td><td>373.7</td><td>335.6</td><td>1,114.3</td><td>1,733.9</td><td>1,636.5</td><td>1,766.5</td><td>1,753.5</td></tr><tr><td>Minnesota</td><td>2,798.5</td><td>28.8</td><td>22.8</td><td>37.9</td><td>50.7</td><td>71.8</td><td>71.2</td><td>77.7</td><td>300.4</td><td>545.6</td><td>537.9</td><td>541.5</td><td>512.3</td></tr><tr><td>Mississippi</td><td>1,027.0</td><td>18.9</td><td>17.9</td><td>25.0</td><td>26.4</td><td>29.5</td><td>34.5</td><td>38.3</td><td>130.6</td><td>213.3</td><td>201.1</td><td>202.2</td><td>89.6</td></tr><tr><td>Missouri</td><td>5,183.2</td><td>100.1</td><td>73.3</td><td>108.4</td><td>142.0</td><td>145.0</td><td>161.7</td><td>153.0</td><td>684.7</td><td>906.2</td><td>863.7</td><td>936.4</td><td>928.8</td></tr><tr><td>Montana</td><td>770.2</td><td>9.4</td><td>7.8</td><td>9.7</td><td>15.3</td><td>14.8</td><td>21.0</td><td>23.2</td><td>89.4</td><td>156.2</td><td>137.6</td><td>139.4</td><td>146.4</td></tr><tr><td>Nebraska</td><td>1,604.2</td><td>20.8</td><td>15.4</td><td>20.6</td><td>21.9</td><td>26.7</td><td>27.4</td><td>30.8</td><td>210.7</td><td>292.9</td><td>283.5</td><td>314.9</td><td>338.7</td></tr><tr><td>Nevada</td><td>315.8</td><td>3.4</td><td>3.1</td><td>3.7</td><td>4.6</td><td>4.5</td><td>5.7</td><td>6.4</td><td>33.1</td><td>56.1</td><td>46.8</td><td>45.5</td><td>102.9</td></tr><tr><td>New Hampshire</td><td>844.5</td><td>15.7</td><td>13.3</td><td>16.9</td><td>19.3</td><td>17.7</td><td>28.7</td><td>40.7</td><td>90.8</td><td>166.7</td><td>142.3</td><td>142.6</td><td>149.7</td></tr><tr><td>New Jersey</td><td>9,683.0</td><td>150.7</td><td>135.3</td><td>177.9</td><td>201.8</td><td>212.5</td><td>269.1</td><td>275.1</td><td>1,069.0</td><td>1,837.9</td><td>1,807.7</td><td>1,791.8</td><td>1,754.4</td></tr><tr><td>New Mexico</td><td>505.7</td><td>5.8</td><td>4.1</td><td>6.4</td><td>12.2</td><td>12.1</td><td>18.5</td><td>16.9</td><td>68.3</td><td>95.8</td><td>82.8</td><td>88.5</td><td>94.4</td></tr><tr><td>New York</td><td>37,557.1</td><td>761.1</td><td>589.5</td><td>629.0</td><td>731.3</td><td>939.0</td><td>985.2</td><td>1,062.8</td><td>4,355.0</td><td>6,493.5</td><td>6,585.4</td><td>7,255.8</td><td>7,169.7</td></tr><tr><td>North Carolina</td><td>1,999.1</td><td>28.2</td><td>22.5</td><td>34.3</td><td>40.9</td><td>42.2</td><td>51.8</td><td>52.1</td><td>250.0</td><td>382.8</td><td>375.3</td><td>380.0</td><td>339.0</td></tr><tr><td>North Dakota</td><td>524.2</td><td>6.8</td><td>3.6</td><td>5.7</td><td>5.9</td><td>6.2</td><td>8.6</td><td>11.6</td><td>53.9</td><td>109.3</td><td>104.9</td><td>108.4</td><td>99.5</td></tr><tr><td>Ohio</td><td>12,417.9</td><td>173.2</td><td>120.6</td><td>148.8</td><td>189.6</td><td>264.0</td><td>287.9</td><td>318.1</td><td>1,269.2</td><td>2,495.9</td><td>2,415.3</td><td>2,164.4</td><td>2,570.9</td></tr><tr><td>Oklahoma</td><td>1,677.8</td><td>22.9</td><td>22.0</td><td>31.9</td><td>43.4</td><td>34.3</td><td>43.1</td><td>56.0</td><td>247.5</td><td>318.0</td><td>277.8</td><td>300.8</td><td>280.1</td></tr><tr><td>Oregon</td><td>1,992.1</td><td>34.4</td><td>24.6</td><td>31.2</td><td>51.3</td><td>55.7</td><td>56.0</td><td>64.0</td><td>197.1</td><td>368.6</td><td>399.8</td><td>358.8</td><td>350.6</td></tr><tr><td>Pennsylvania</td><td>19,226.0</td><td>219.8</td><td>199.7</td><td>235.2</td><td>264.4</td><td>370.7</td><td>501.4</td><td>547.5</td><td>2,244.2</td><td>3,675.2</td><td>3,480.8</td><td>3,476.9</td><td>4,010.2</td></tr><tr><td>Rhode Island</td><td>2,242.2</td><td>34.9</td><td>23.9</td><td>33.2</td><td>40.3</td><td>47.8</td><td>54.5</td><td>59.3</td><td>329.8</td><td>433.9</td><td>405.2</td><td>409.7</td><td>369.7</td></tr><tr><td>South Carolina</td><td>1,091.2</td><td>15.1</td><td>15.1</td><td>20.5</td><td>24.5</td><td>21.5</td><td>23.2</td><td>25.4</td><td>264.7</td><td>170.0</td><td>160.1</td><td>166.0</td><td>184.9</td></tr><tr><td>South Dakota</td><td>589.9</td><td>5.9</td><td>4.4</td><td>6.6</td><td>7.0</td><td>6.3</td><td>7.6</td><td>9.9</td><td>52.4</td><td>117.7</td><td>119.3</td><td>121.3</td><td>131.6</td></tr><tr><td>Tennessee</td><td>1,961.1</td><td>34.8</td><td>24.0</td><td>35.9</td><td>39.3</td><td>60.3</td><td>59.5</td><td>56.6</td><td>290.5</td><td>369.6</td><td>336.0</td><td>326.0</td><td>328.5</td></tr><tr><td>Texas</td><td>8,573.8</td><td>148.7</td><td>127.8</td><td>164.6</td><td>200.0</td><td>176.7</td><td>205.2</td><td>233.1</td><td>1,053.3</td><td>1,592.7</td><td>1,551.0</td><td>1,652.8</td><td>1,468.0</td></tr><tr><td>Utah</td><td>652.0</td><td>6.4</td><td>5.2</td><td>7.1</td><td>11.2</td><td>13.0</td><td>15.6</td><td>16.4</td><td>63.2</td><td>126.2</td><td>124.8</td><td>125.3</td><td>137.5</td></tr><tr><td>Vermont</td><td>469.8</td><td>6.5</td><td>8.2</td><td>8.4</td><td>9.7</td><td>10.2</td><td>13.2</td><td>15.8</td><td>54.5</td><td>97.8</td><td>93.6</td><td>55.6</td><td>96.4</td></tr><tr><td>Virginia</td><td>2,930.3</td><td>42.1</td><td>29.5</td><td>41.5</td><td>58.7</td><td>68.9</td><td>78.6</td><td>89.2</td><td>312.9</td><td>558.9</td><td>526.7</td><td>554.0</td><td>569.4</td></tr><tr><td>Washington</td><td>2,569.4</td><td>39.2</td><td>35.7</td><td>57.6</td><td>85.1</td><td>82.1</td><td>94.2</td><td>91.8</td><td>305.5</td><td>485.7</td><td>410.8</td><td>436.3</td><td>445.3</td></tr><tr><td>West Virginia</td><td>1,759.1</td><td>17.6</td><td>14.8</td><td>19.3</td><td>21.1</td><td>25.6</td><td>32.4</td><td>34.1</td><td>198.7</td><td>360.8</td><td>336.7</td><td>355.1</td><td>342.9</td></tr><tr><td>Wisconsin</td><td>4,020.1</td><td>78.7</td><td>26.1</td><td>33.3</td><td>38.3</td><td>45.3</td><td>64.3</td><td>86.4</td><td>423.7</td><td>819.5</td><td>772.7</td><td>813.0</td><td>818.8</td></tr><tr><td>Wyoming</td><td>362.7</td><td>5.9</td><td>3.7</td><td>5.0</td><td>6.8</td><td>6.2</td><td>8.6</td><td>9.9</td><td>48.5</td><td>71.9</td><td>69.2</td><td>63.1</td><td>64.0</td></tr><tr><td>Alaska</td><td>5.6</td><td>.5</td><td>.7</td><td>1.0</td><td>1.3</td><td>.6</td><td>.2</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Ouam</td><td>.1</td><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>Hawaii</td><td>646.5</td><td>3.2</td><td>3.7</td><td>6.9</td><td>9.7</td><td>81.9</td><td>49.4</td><td>34.1</td><td>57.5</td><td>84.4</td><td>78.9</td><td>78.9</td><td>158.1</td></tr><tr><td>Puerto Rico</td><td>127.9</td><td>5.4</td><td>4.8</td><td>6.8</td><td>6.0</td><td>4.9</td><td>7.9</td><td>9.5</td><td>9.3</td><td>15.0</td><td>17.7</td><td>17.7</td><td>23.2</td></tr><tr><td>Samoa</td><td>.1</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Virgin Islands</td><td>1.2</td><td>.3</td><td>.2</td><td>.2</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total</td><td>217,572.3</td><td>3,349.3</td><td>2,737.6</td><td>3,520.1</td><td>4,372.3</td><td>5,191.6</td><td>5,985.4</td><td>6,354.3</td><td>25,657.1</td><td>41,168.8</td><td>38,649.2</td><td>39,976.2</td><td>40,610.4</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p Preliminary. * Less than $50.
35
Sales of Tax Series Treasury Notes Beginning August 1941
Table 1.- Summary, by Series
(in millions of dollars)
<table><tr><th rowspan="2">Month</th><th rowspan="2">Amount outstanding end of month (par value)</th><th rowspan="2">Net change during month</th><th colspan="4">Analysis of net change</th></tr><tr><th colspan="3">Analysis of gross sales</th><th>Redemptions at par values</th></tr><tr><th colspan="6">All series 1/</th></tr><tr><td>1941-August</td><td>1,037.1</td><td>+1,037.1</td><td>1,037.1</td><td>-57.5</td><td>1,094.6</td><td>*</td></tr><tr><td>September</td><td>1,343.0</td><td>+305.6</td><td>305.9</td><td>+17.5</td><td>285.5</td><td>.1</td></tr><tr><td>October</td><td>1,817.6</td><td>+474.7</td><td>474.7</td><td>+37.0</td><td>437.7</td><td>*</td></tr><tr><td>November</td><td>2,136.4</td><td>+318.8</td><td>319.8</td><td>-5</td><td>320.3</td><td>1.0</td></tr><tr><td>December</td><td>2,471.0</td><td>+334.6</td><td>341.9</td><td>-3.7</td><td>345.6</td><td>7.3</td></tr><tr><td>1942-January</td><td>2,697.2</td><td>+226.2</td><td>237.8</td><td>+10.0</td><td>227.7</td><td>11.5</td></tr><tr><td>February</td><td>2,807.1</td><td>+109.9</td><td>126.1</td><td>-1.9</td><td>128.0</td><td>16.2</td></tr><tr><td>March</td><td>2,536.3</td><td>-270.8</td><td>234.8</td><td>-2.5</td><td>237.3</td><td>505.6</td></tr><tr><td>April</td><td>2,744.4</td><td>+208.1</td><td>254.7</td><td>-6.3</td><td>261.0</td><td>46.6</td></tr><tr><td>Total August-April</td><td>-</td><td>-</td><td>3,332.7</td><td>-7.9</td><td>3,340.7</td><td>588.4</td></tr><tr><th colspan="6">Series A</th></tr><tr><td>1941-August</td><td>18.2</td><td>+18.2</td><td>18.2</td><td>-1.5</td><td>19.7</td><td>*</td></tr><tr><td>September</td><td>26.0</td><td>+7.5</td><td>7.5</td><td>+1.7</td><td>7.1</td><td>*</td></tr><tr><td>October</td><td>32.5</td><td>+6.5</td><td>6.5</td><td>+1.7</td><td>5.8</td><td>*</td></tr><tr><td>November</td><td>36.7</td><td>+4.2</td><td>4.2</td><td>+1.1</td><td>4.1</td><td>*</td></tr><tr><td>December</td><td>44.0</td><td>+7.3</td><td>7.3</td><td>+1.6</td><td>5.8</td><td>*</td></tr><tr><td>1942-January</td><td>48.4</td><td>+4.4</td><td>4.7</td><td>-1.4</td><td>6.1</td><td>.3</td></tr><tr><td>February</td><td>50.6</td><td>+2.2</td><td>3.2</td><td>*</td><td>3.3</td><td>1.0</td></tr><tr><td>March</td><td>45.1</td><td>-5.5</td><td>5.3</td><td>-1.1</td><td>5.4</td><td>10.8</td></tr><tr><td>April</td><td>48.5</td><td>+3.4</td><td>4.6</td><td>*</td><td>4.6</td><td>1.2</td></tr><tr><td>Total August-April</td><td>-</td><td>-</td><td>61.9</td><td>+1.1</td><td>61.8</td><td>13.4</td></tr><tr><th colspan="6">Series B</th></tr><tr><td>1941-August</td><td>1,018.9</td><td>+1,018.9</td><td>1,018.9</td><td>-56.0</td><td>1,074.9</td><td>-</td></tr><tr><td>September</td><td>1,316.9</td><td>+238.0</td><td>298.1</td><td>+16.7</td><td>281.4</td><td>.1</td></tr><tr><td>October</td><td>1,785.1</td><td>+468.2</td><td>468.2</td><td>+36.3</td><td>431.9</td><td>*</td></tr><tr><td>November</td><td>2,099.7</td><td>+314.6</td><td>315.6</td><td>-6</td><td>316.2</td><td>1.0</td></tr><tr><td>December</td><td>2,427.0</td><td>+327.3</td><td>334.5</td><td>-5.3</td><td>339.8</td><td>7.2</td></tr><tr><td>1942-January</td><td>2,648.8</td><td>+221.8</td><td>233.1</td><td>+11.5</td><td>221.6</td><td>11.2</td></tr><tr><td>February</td><td>2,756.5</td><td>+107.7</td><td>122.9</td><td>-1.8</td><td>124.7</td><td>15.2</td></tr><tr><td>March</td><td>2,491.2</td><td>-265.3</td><td>229.5</td><td>-2.4</td><td>231.9</td><td>494.8</td></tr><tr><td>April</td><td>2,695.8</td><td>+204.6</td><td>250.1</td><td>-6.4</td><td>256.4</td><td>45.4</td></tr><tr><td>Total August-April</td><td>-</td><td>-</td><td>3,270.8</td><td>-8.0</td><td>3,278.9</td><td>575.0</td></tr></table>
Source: Daily Treasury Statement and reports of gross sales. Less than $50,000.
1/ Series A and B differ in two important respects: (1) Interest accumulates at an annual rate of approximately 1.92 percent on Series A and .48 percent on Series B; and (2) the aggregate annual amount which may be turned in on income, estate, or gift taxes is $1,200 on Series A and is unlimited on Series B.
36
Sales of Tax Series Treasury Notes Beginning August 1941 - (Continued
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Month</th><th colspan="9">Sales in millions of dollars at par</th><th colspan="9">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25 1/2</th><th>$50 1/2</th><th>$100 2/1</th><th>$500 2/1</th><th>$1,000 2/1</th><th>$10,000 3/1</th><th>$100,000 3/1</th><th>$500,000 3/1</th><th>$1,000,000 3/1</th><th>Total all denominations</th><th>$25 1/2</th><th>$50 1/2</th><th>$100 2/1</th><th>$500 2/1</th><th>$1,000 2/1</th><th>$10,000 3/1</th><th>$100,000 3/1</th><th>$500,000 3/1</th><th>$1,000,000 3/1</th></tr><tr><td colspan="21">Series A</td></tr><tr><td>1941-Aug....</td><td>19.7</td><td>.6</td><td>.8</td><td>18.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>3.1</td><td>4.2</td><td>92.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Sept....</td><td>7.1</td><td>.3</td><td>.4</td><td>6.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>4.5</td><td>5.8</td><td>89.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Oct....</td><td>5.8</td><td>.3</td><td>.4</td><td>5.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>5.2</td><td>7.0</td><td>87.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Nov....</td><td>4.1</td><td>.3</td><td>.3</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>6.3</td><td>8.4</td><td>85.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Dec.....</td><td>5.8</td><td>.3</td><td>.5</td><td>4.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>5.3</td><td>9.4</td><td>85.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1942-Jan....</td><td>6.1</td><td>.2</td><td>.3</td><td>4.1</td><td>.5</td><td>.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>3.7</td><td>5.5</td><td>67.2</td><td>8.5</td><td>15.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Feb.....</td><td>3.3</td><td>.1</td><td>.2</td><td>2.0</td><td>.3</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>4.1</td><td>6.1</td><td>62.0</td><td>9.4</td><td>18.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Mar....</td><td>5.4</td><td>.2</td><td>.3</td><td>3.3</td><td>.6</td><td>1.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>3.2</td><td>5.1</td><td>62.1</td><td>10.5</td><td>19.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Apr....</td><td>4.6</td><td>.2</td><td>.3</td><td>2.8</td><td>.5</td><td>.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>3.6</td><td>5.8</td><td>60.1</td><td>10.6</td><td>19.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total...</td><td>61.8</td><td>2.5</td><td>3.6</td><td>50.3</td><td>1.9</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>4.1</td><td>5.9</td><td>81.5</td><td>3.0</td><td>5.6</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="21">Series B</td></tr><tr><td>1941-Aug....</td><td>1,074.9</td><td>-</td><td>-</td><td>1.2</td><td>2.9</td><td>27.5</td><td>120.5</td><td>374.9</td><td>63.0</td><td>485.0</td><td>100.0</td><td>-</td><td>-</td><td>.1</td><td>.3</td><td>2.6</td><td>11.2</td><td>34.9</td><td>5.9</td><td>45.1</td></tr><tr><td>Sept....</td><td>281.4</td><td>-</td><td>-</td><td>.5</td><td>1.2</td><td>12.7</td><td>44.8</td><td>103.2</td><td>28.0</td><td>91.0</td><td>100.0</td><td>-</td><td>-</td><td>.2</td><td>.4</td><td>4.5</td><td>15.9</td><td>36.7</td><td>10.0</td><td>32.3</td></tr><tr><td>Oct....</td><td>431.9</td><td>-</td><td>-</td><td>.5</td><td>1.4</td><td>12.1</td><td>44.2</td><td>114.2</td><td>26.5</td><td>233.0</td><td>100.0</td><td>-</td><td>-</td><td>.1</td><td>.3</td><td>2.8</td><td>10.2</td><td>26.4</td><td>6.1</td><td>53.9</td></tr><tr><td>Nov....</td><td>316.2</td><td>-</td><td>-</td><td>.5</td><td>1.1</td><td>11.2</td><td>43.9</td><td>104.4</td><td>32.0</td><td>123.0</td><td>100.0</td><td>-</td><td>-</td><td>.2</td><td>.4</td><td>3.5</td><td>13.9</td><td>33.0</td><td>10.1</td><td>38.9</td></tr><tr><td>Dec.....</td><td>339.8</td><td>-</td><td>-</td><td>.9</td><td>2.1</td><td>19.2</td><td>58.8</td><td>120.9</td><td>22.0</td><td>116.0</td><td>100.0</td><td>-</td><td>-</td><td>.3</td><td>.6</td><td>5.6</td><td>17.3</td><td>35.6</td><td>6.5</td><td>34.1</td></tr><tr><td>1942-Jan....</td><td>221.6</td><td>-</td><td>-</td><td>.6</td><td>1.2</td><td>12.1</td><td>39.8</td><td>71.8</td><td>19.0</td><td>77.0</td><td>100.0</td><td>-</td><td>-</td><td>.3</td><td>.6</td><td>5.5</td><td>18.0</td><td>32.4</td><td>8.6</td><td>34.7</td></tr><tr><td>Feb.....</td><td>124.7</td><td>-</td><td>-</td><td>.3</td><td>.6</td><td>6.4</td><td>23.2</td><td>48.7</td><td>11.5</td><td>34.0</td><td>100.0</td><td>-</td><td>-</td><td>.3</td><td>.5</td><td>5.1</td><td>18.6</td><td>39.0</td><td>9.2</td><td>27.1</td></tr><tr><td>Mar....</td><td>231.9</td><td>-</td><td>-</td><td>.5</td><td>1.1</td><td>10.9</td><td>33.4</td><td>74.5</td><td>31.5</td><td>80.0</td><td>100.0</td><td>-</td><td>-</td><td>.2</td><td>.5</td><td>4.7</td><td>14.4</td><td>32.1</td><td>13.6</td><td>34.5</td></tr><tr><td>Apr....</td><td>256.4</td><td>-</td><td>-</td><td>.5</td><td>.9</td><td>10.6</td><td>39.8</td><td>108.2</td><td>34.5</td><td>62.0</td><td>100.0</td><td>-</td><td>-</td><td>.2</td><td>.3</td><td>4.1</td><td>15.5</td><td>42.2</td><td>13.5</td><td>24.2</td></tr><tr><td>Total...</td><td>3,278.9</td><td>-</td><td>-</td><td>5.7</td><td>12.4</td><td>122.6</td><td>448.3</td><td>1,120.8</td><td>268.0</td><td>1,301.0</td><td>100.0</td><td>-</td><td>-</td><td>.2</td><td>.4</td><td>3.7</td><td>13.7</td><td>34.2</td><td>8.2</td><td>39.7</td></tr></table>
Source: Reports of gross sales. 1/ Not sold in Series B.
2/ Not sold in Series A prior to January 1942.
3/ Not sold in Series A.
37
Sales of Tax Series Treasury Notes Beginning August 1941 - (Continued)
Table 3.- Sales Reported by Series, Classified by Type of Purchaser
<table><tr><th rowspan="2">Month</th><th colspan="3">Sales in millions of dollars at par</th><th colspan="3">Percentage distribution of sales</th></tr><tr><th>Total</th><th colspan="2">Type of purchaser</th><th>Total</th><th colspan="2">Type of purchaser</th></tr><tr><th></th><th></th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th><th></th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th></tr><tr><td colspan="7">All series</td></tr><tr><td>1941-August</td><td>1,094.6</td><td>66.0</td><td>1,028.6</td><td>100.0</td><td>6.0</td><td>94.0</td></tr><tr><td>September</td><td>288.5</td><td>27.3</td><td>261.2</td><td>100.0</td><td>9.5</td><td>90.5</td></tr><tr><td>October</td><td>437.7</td><td>25.5</td><td>412.1</td><td>100.0</td><td>5.8</td><td>94.2</td></tr><tr><td>November</td><td>320.3</td><td>17.8</td><td>302.5</td><td>100.0</td><td>5.6</td><td>94.4</td></tr><tr><td>December</td><td>345.6</td><td>42.1</td><td>303.5</td><td>100.0</td><td>12.2</td><td>87.8</td></tr><tr><td>1942-January</td><td>227.7</td><td>66.1</td><td>161.6</td><td>100.0</td><td>29.0</td><td>71.0</td></tr><tr><td>February</td><td>128.0</td><td>26.7</td><td>101.3</td><td>100.0</td><td>20.8</td><td>79.2</td></tr><tr><td>March</td><td>237.3</td><td>28.8</td><td>208.5</td><td>100.0</td><td>12.1</td><td>87.9</td></tr><tr><td>April</td><td>261.0</td><td>37.2</td><td>223.8</td><td>100.0</td><td>14.3</td><td>85.7</td></tr><tr><td>Total August-April</td><td>3,340.7</td><td>337.6</td><td>3,003.1</td><td>100.0</td><td>10.1</td><td>89.9</td></tr><tr><td colspan="7">Series A</td></tr><tr><td>1941-August</td><td>19.7</td><td>16.0</td><td>3.7</td><td>100.0</td><td>81.2</td><td>18.8</td></tr><tr><td>September</td><td>7.1</td><td>6.2</td><td>.9</td><td>100.0</td><td>87.4</td><td>12.6</td></tr><tr><td>October</td><td>5.8</td><td>5.2</td><td>.6</td><td>100.0</td><td>89.0</td><td>11.0</td></tr><tr><td>November</td><td>4.1</td><td>3.5</td><td>.6</td><td>100.0</td><td>85.5</td><td>14.5</td></tr><tr><td>December</td><td>5.8</td><td>5.4</td><td>.4</td><td>100.0</td><td>93.8</td><td>6.2</td></tr><tr><td>1942-January</td><td>6.1</td><td>5.4</td><td>.7</td><td>100.0</td><td>88.9</td><td>11.1</td></tr><tr><td>February</td><td>3.3</td><td>2.8</td><td>.4</td><td>100.0</td><td>87.2</td><td>12.8</td></tr><tr><td>March</td><td>5.4</td><td>4.9</td><td>.5</td><td>100.0</td><td>90.6</td><td>9.4</td></tr><tr><td>April</td><td>4.6</td><td>4.2</td><td>.4</td><td>100.0</td><td>92.1</td><td>7.9</td></tr><tr><td>Total August-April</td><td>61.8</td><td>53.7</td><td>8.2</td><td>100.0</td><td>86.8</td><td>13.2</td></tr><tr><td colspan="7">Series B</td></tr><tr><td>1941-August</td><td>1,074.9</td><td>50.0</td><td>1,024.9</td><td>100.0</td><td>4.7</td><td>95.3</td></tr><tr><td>September</td><td>281.4</td><td>21.1</td><td>260.3</td><td>100.0</td><td>7.5</td><td>92.5</td></tr><tr><td>October</td><td>431.9</td><td>20.4</td><td>411.5</td><td>100.0</td><td>4.7</td><td>95.3</td></tr><tr><td>November</td><td>316.2</td><td>14.3</td><td>301.9</td><td>100.0</td><td>4.5</td><td>95.5</td></tr><tr><td>December</td><td>339.8</td><td>36.7</td><td>303.1</td><td>100.0</td><td>10.8</td><td>89.2</td></tr><tr><td>1942-January</td><td>221.6</td><td>60.7</td><td>160.9</td><td>100.0</td><td>27.4</td><td>72.6</td></tr><tr><td>February</td><td>124.7</td><td>23.8</td><td>100.9</td><td>100.0</td><td>19.1</td><td>80.9</td></tr><tr><td>March</td><td>231.9</td><td>23.9</td><td>208.0</td><td>100.0</td><td>10.3</td><td>89.7</td></tr><tr><td>April</td><td>256.4</td><td>33.0</td><td>223.4</td><td>100.0</td><td>12.3</td><td>87.1</td></tr><tr><td>Total August-April</td><td>3,278.9</td><td>283.9</td><td>2,994.9</td><td>100.0</td><td>6.7</td><td>93.3</td></tr></table>
Source: Reports of gross sales.
38
Sales of Tax Series Treasury Notes Beginning August 1941 - (Continued)
Table 4.- Redemptions by Series, Classified by Means of Payment
<table><tr><th rowspan="2">Month</th><th colspan="3">Redemptions in millions of dollars at par</th><th colspan="3">Percentage distribution of redemptions</th></tr><tr><th>Total</th><th colspan="2">Means of payment</th><th>Total</th><th colspan="2">Means of payment</th></tr><tr><th></th><th></th><th>Received for taxes</th><th>Cash redemptions</th><th></th><th>Received for taxes</th><th>Cash redemptions</th></tr><tr><td colspan="7">All series</td></tr><tr><td>1941-August</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>September</td><td>.1</td><td>-</td><td>.1</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>October</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>November</td><td>1.0</td><td>-</td><td>1.0</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>December</td><td>7.3</td><td>-</td><td>7.3</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>1942-January</td><td>11.5</td><td>10.5</td><td>1.0</td><td>100.0</td><td>91.4</td><td>8.6</td></tr><tr><td>February</td><td>16.2</td><td>15.8</td><td>.3</td><td>100.0</td><td>97.9</td><td>2.1</td></tr><tr><td>March</td><td>505.6</td><td>504.7</td><td>.9</td><td>100.0</td><td>99.8</td><td>.2</td></tr><tr><td>April</td><td>46.6</td><td>45.4</td><td>1.3</td><td>100.0</td><td>97.3</td><td>2.7</td></tr><tr><td>Total August-April</td><td>588.4</td><td>576.4</td><td>11.9</td><td>100.0</td><td>98.0</td><td>2.0</td></tr></table>
Series A
<table><tr><td>1941-August</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>September</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>October</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>November</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>December</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>1942-January</td><td>.3</td><td>.3</td><td>*</td><td>100.0</td><td>85.2</td><td>14.8</td></tr><tr><td>February</td><td>1.0</td><td>.9</td><td>.1</td><td>100.0</td><td>91.0</td><td>9.0</td></tr><tr><td>March</td><td>10.8</td><td>10.5</td><td>.3</td><td>100.0</td><td>97.1</td><td>2.7</td></tr><tr><td>April</td><td>1.2</td><td>1.1</td><td>.1</td><td>100.0</td><td>93.4</td><td>6.6</td></tr><tr><td>Total August-April</td><td>13.4</td><td>12.8</td><td>.6</td><td>100.0</td><td>95.6</td><td>4.4</td></tr></table>
Series B
<table><tr><td>19b1-August</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>September</td><td>.1</td><td>-</td><td>.1</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>October</td><td>*</td><td>-</td><td>*</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>November</td><td>1.0</td><td>-</td><td>1.0</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>December</td><td>7.2</td><td>-</td><td>7.2</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>19b2-January</td><td>11.2</td><td>10.3</td><td>.9</td><td>100.0</td><td>91.6</td><td>8.4</td></tr><tr><td>February</td><td>15.2</td><td>14.9</td><td>.2</td><td>100.0</td><td>98.4</td><td>1.6</td></tr><tr><td>March</td><td>194.8</td><td>194.2</td><td>.6</td><td>100.0</td><td>99.9</td><td>.1</td></tr><tr><td>April</td><td>45.4</td><td>44.3</td><td>1.2</td><td>100.0</td><td>97.4</td><td>2.6</td></tr><tr><td>Total August-April</td><td>575.0</td><td>563.7</td><td>11.3</td><td>100.0</td><td>98.0</td><td>2.0</td></tr></table>
Source: Daily Treasury Statement. Less than $50,000.
39
Public Debt Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Receipts</th><th colspan="4">Expenditures</th><th rowspan="2">Excess of receipts</th></tr><tr><th>Total</th><th>Cash</th><th>Public issues Adjusted service bonds</th><th>Exchanges</th><th>Special issues</th><th>Total</th><th>Cash</th><th>Public issues Exchanges</th><th>Special issues</th></tr><tr><td>1938.</td><td>9,620.8</td><td>4,775.8</td><td>12.8</td><td>2,673.8</td><td>2,158.5</td><td>8,880.7</td><td>5,166.0</td><td>2,673.8</td><td>1,040.8</td><td>740.1</td></tr><tr><td>1939.</td><td>13,083.6</td><td>7,475.1</td><td>6.6</td><td>3,034.9</td><td>2,567.1</td><td>9,808.8</td><td>5,301.0</td><td>3,034.9</td><td>1,472.9</td><td>3,274.8</td></tr><tr><td>1940.</td><td>13,165.6</td><td>7,194.4</td><td>8.4</td><td>2,812.0</td><td>3,150.8</td><td>10,637.6</td><td>5,679.8</td><td>2,812.0</td><td>2,145.8</td><td>2,528.0</td></tr><tr><td>1941.</td><td>17,846.7</td><td>10,462.1</td><td>2.2</td><td>3,141.6</td><td>4,240.8</td><td>11,852.8</td><td>5,815.6</td><td>3,141.6</td><td>2,895.6</td><td>5,993.9</td></tr><tr><td>1941-April.</td><td>651.8</td><td>585.0</td><td>.2</td><td>.6</td><td>66.0</td><td>594.2</td><td>551.8</td><td>.6</td><td>41.8</td><td>57.6</td></tr><tr><td>May.</td><td>915.4</td><td>775.6</td><td>.1</td><td>-</td><td>139.7</td><td>425.2</td><td>412.6</td><td>-</td><td>12.6</td><td>490.3</td></tr><tr><td>June.</td><td>5,388.5</td><td>1,683.6</td><td>.1</td><td>787.3</td><td>2,917.5</td><td>4,147.8</td><td>729.1</td><td>787.3</td><td>2,631.4</td><td>1,240.7</td></tr><tr><td>July.</td><td>1,121.2</td><td>895.1</td><td>.1</td><td>.6</td><td>225.3</td><td>570.1</td><td>547.7</td><td>.6</td><td>21.8</td><td>551.1</td></tr><tr><td>August.</td><td>1,884.4</td><td>1,721.2</td><td>.1</td><td>-</td><td>163.1</td><td>476.0</td><td>458.9</td><td>-</td><td>17.0</td><td>1,408.4</td></tr><tr><td>September.</td><td>1,170.9</td><td>948.6</td><td>.1</td><td>-</td><td>222.2</td><td>745.5</td><td>711.7</td><td>-</td><td>33.7</td><td>425.4</td></tr><tr><td>October.</td><td>3,046.4</td><td>2,760.3</td><td>.1</td><td>189.0</td><td>97.0</td><td>808.8</td><td>528.5</td><td>189.0</td><td>91.3</td><td>2,237.6</td></tr><tr><td>November.</td><td>1,938.3</td><td>1,768.4</td><td>-</td><td>-</td><td>169.8</td><td>482.5</td><td>455.5</td><td>-</td><td>27.1</td><td>1,455.8</td></tr><tr><td>December.</td><td>3,547.1</td><td>3,282.5</td><td>.1</td><td>-</td><td>264.5</td><td>648.8</td><td>559.5</td><td>-</td><td>89.3</td><td>2,898.3</td></tr><tr><td>1942-January.</td><td>3,074.7</td><td>2,527.1</td><td>.1</td><td>406.2</td><td>141.3</td><td>1,001.3</td><td>535.4</td><td>406.2</td><td>59.7</td><td>2,071.5</td></tr><tr><td>February.</td><td>3,160.6</td><td>2,939.8</td><td>.1</td><td>.2</td><td>160.5</td><td>791.7</td><td>757.8</td><td>.2</td><td>33.7</td><td>2,368.9</td></tr><tr><td>March.</td><td>1,593.4</td><td>1,403.0</td><td>.1</td><td>-</td><td>190.4</td><td>1,554.7</td><td>1,507.6</td><td>-</td><td>47.0</td><td>38.8</td></tr><tr><td>April.</td><td>3,116.4</td><td>3,051.3</td><td>.1</td><td>-</td><td>64.9</td><td>574.4</td><td>533.7</td><td>-</td><td>40.6</td><td>2,542.0</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000.
Computed Annual Interest Charge and Computed Rate of Interest
on the Interest-Bearing Public Debt Outstanding
<table><tr><th>End of fiscal year or month</th><th>Interest-bearing debt outstanding</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>26,480,487,870</td><td>842,301,131</td><td>3.181</td></tr><tr><td>1935</td><td>27,645,241,058</td><td>750,678,123</td><td>2.715</td></tr><tr><td>1935</td><td>32,988,790,135</td><td>844,996,902</td><td>2.562</td></tr><tr><td>1937</td><td>35,800,109,418</td><td>924,275,241</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>1940</td><td>42,376,495,928</td><td>1,094,619,914</td><td>2.583</td></tr><tr><td>1941</td><td>48,387,399,539</td><td>1,218,238,845</td><td>2.518</td></tr><tr><td>1941-April</td><td>46,673,368,395</td><td>1,181,178,483</td><td>2.531</td></tr><tr><td>May</td><td>47,160,104,076</td><td>1,195,018,863</td><td>2.534</td></tr><tr><td>June</td><td>48,387,399,539</td><td>1,218,238,845</td><td>2.518</td></tr><tr><td>July</td><td>48,965,009,283</td><td>1,234,650,904</td><td>2.522</td></tr><tr><td>August</td><td>50,370,520,072</td><td>1,249,099,338</td><td>2.480</td></tr><tr><td>September</td><td>50,790,671,546</td><td>1,260,530,608</td><td>2.482</td></tr><tr><td>October</td><td>53,040,415,590</td><td>1,307,598,258</td><td>2.465</td></tr><tr><td>November</td><td>54,535,587,387</td><td>1,324,826,253</td><td>2.429</td></tr><tr><td>December</td><td>57,450,945,675</td><td>1,384,184,673</td><td>2.409</td></tr><tr><td>1942-January</td><td>59,530,900,664</td><td>1,430,816,112</td><td>2.404</td></tr><tr><td>February</td><td>61,894,742,720</td><td>1,487,789,661</td><td>2.404</td></tr><tr><td>March</td><td>61,939,736,953</td><td>1,502,668,191</td><td>2.426</td></tr><tr><td>April</td><td>64,496,347,920</td><td>1,527,390,749</td><td>2.368</td></tr></table>
Basis: Daily Treasury Statements.
1/ Treasury bills are included in interest-bearing debt figures at face amount, but for the purpose of calculating the computed annual interest charge and the computed rate of interest, the discount value is used.
OWNERSHIP OF GOVERNMENT SECURITIES
40
41
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued by United States Government and Guaranteed by United States
(in millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Distribution by classes of holders</th><th rowspan="2">Total amount unmetated outstanding</th><th colspan="2">Distribution by classes of holders</th></tr><tr><th colspan="3">U. S. Government agencies and trust funds 2/</th><th>Federal Reserve Banks 3/</th><th colspan="2">Private investors 4/</th><th>U. S. Government agencies and trust funds and Federal Reserve Banks 2/</th><th>Private investors 4/</th></tr><tr><th></th><th>Total public and special issues</th><th>Public marketable issues 5/</th><th>Special issues</th><th>Public marketable issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public marketable issues</th><th>Public marketable issues</th></tr><tr><td>1933</td><td>22,158</td><td>690</td><td>367</td><td>323</td><td>1,998</td><td>19,469</td><td>19,469</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>26,480</td><td>1,288</td><td>892</td><td>396</td><td>2,432</td><td>22,760</td><td>22,760</td><td>-</td><td>681</td><td>150</td><td>531</td></tr><tr><td>1935</td><td>27,645</td><td>1,629</td><td>996</td><td>633</td><td>2,433</td><td>23,583</td><td>23,521</td><td>62</td><td>4,123</td><td>362</td><td>3,761</td></tr><tr><td>1936</td><td>32,989</td><td>1,945</td><td>1,319</td><td>626</td><td>2,430</td><td>28,614</td><td>27,353</td><td>1,261</td><td>4,718</td><td>375</td><td>4,343</td></tr><tr><td>1937</td><td>35,800</td><td>3,221</td><td>1,663</td><td>1,558</td><td>2,526</td><td>30,053</td><td>28,855</td><td>1,188</td><td>4,665</td><td>363</td><td>4,302</td></tr><tr><td>1938</td><td>36,576</td><td>4,452</td><td>1,776</td><td>2,676</td><td>2,504</td><td>29,560</td><td>28,004</td><td>1,556</td><td>4,853</td><td>325</td><td>4,528</td></tr><tr><td>1939</td><td>39,886</td><td>5,600</td><td>1,830</td><td>3,770</td><td>2,551</td><td>31,735</td><td>29,584</td><td>2,151</td><td>5,450</td><td>286</td><td>5,164</td></tr><tr><td>1940</td><td>42,376</td><td>6,792</td><td>2,017</td><td>4,775</td><td>2,458</td><td>33,126</td><td>29,961</td><td>3,166</td><td>5,498</td><td>287</td><td>5,211</td></tr><tr><td>1941</td><td>48,387</td><td>8,214</td><td>2,094</td><td>6,120</td><td>2,180</td><td>37,993</td><td>33,439</td><td>4,554</td><td>6,360</td><td>273</td><td>6,087</td></tr><tr><td>1941-April</td><td>46,673</td><td>7,773</td><td>2,066</td><td>5,707</td><td>2,180</td><td>36,720</td><td>32,829</td><td>3,891</td><td>6,550</td><td>276</td><td>6,274</td></tr><tr><td>May</td><td>47,160</td><td>7,908</td><td>2,074</td><td>5,834</td><td>2,180</td><td>37,072</td><td>32,821</td><td>4,251</td><td>6,399</td><td>275</td><td>6,084</td></tr><tr><td>June</td><td>48,387</td><td>8,214</td><td>2,094</td><td>6,120</td><td>2,180</td><td>37,993</td><td>33,439</td><td>4,554</td><td>6,360</td><td>273</td><td>6,087</td></tr><tr><td>July</td><td>48,965</td><td>8,426</td><td>2,102</td><td>6,324</td><td>2,180</td><td>38,359</td><td>33,431</td><td>4,928</td><td>6,930</td><td>273</td><td>6,657</td></tr><tr><td>August</td><td>50,371</td><td>8,575</td><td>2,105</td><td>6,470</td><td>2,180</td><td>39,616</td><td>33,382</td><td>6,233</td><td>6,928</td><td>275</td><td>6,653</td></tr><tr><td>September</td><td>50,791</td><td>8,761</td><td>2,103</td><td>6,658</td><td>2,180</td><td>39,850</td><td>33,085</td><td>6,764</td><td>6,929</td><td>278</td><td>6,651</td></tr><tr><td>October</td><td>53,040</td><td>8,879</td><td>2,215</td><td>6,664</td><td>2,180</td><td>41,981</td><td>34,474</td><td>7,506</td><td>6,930</td><td>284</td><td>6,646</td></tr><tr><td>November</td><td>54,536</td><td>9,031</td><td>2,225</td><td>6,806</td><td>2,180</td><td>43,325</td><td>35,272</td><td>8,051</td><td>6,316</td><td>283</td><td>6,033</td></tr><tr><td>December</td><td>57,451</td><td>9,249</td><td>2,267</td><td>6,982</td><td>2,250</td><td>45,952</td><td>37,046</td><td>8,906</td><td>6,317</td><td>285</td><td>6,032</td></tr><tr><td>1942-January</td><td>59,531</td><td>9,332</td><td>2,269</td><td>7,063</td><td>2,239</td><td>47,960</td><td>37,765</td><td>10,194</td><td>5,673</td><td>283</td><td>5,390</td></tr><tr><td>February</td><td>61,895</td><td>9,537</td><td>2,347</td><td>7,190</td><td>2,261</td><td>50,097</td><td>39,094</td><td>11,002</td><td>5,673</td><td>289</td><td>5,384</td></tr><tr><td>March</td><td>61,940</td><td>9,687</td><td>2,354</td><td>7,333</td><td>2,241</td><td>50,012</td><td>38,737</td><td>11,275</td><td>5,666</td><td>288</td><td>5,378</td></tr><tr><td>April</td><td>61,496</td><td>9,713 p</td><td>2,355 p</td><td>7,358</td><td>2,346</td><td>52,437 p</td><td>40,439 p</td><td>11,999 p</td><td>5,666</td><td>288 p</td><td>5,378 p</td></tr></table>
Sources: (1) Total amounts outstanding; Daily Treasury Statements; (2) Securities held by U. S. Government agencies and trust funds; reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks; Federal Reserve System. Preliminary. p 1/ Excludes matured securities and obligations sold directly to the Treasury. 2/ Excludes Exchange Stabilization Fund.
3/ Figures shown for June 30 of each year are as of the end of the month. Other figures are in part as of the Wednesday nearest the end of the month.
4/ The total amount of securities held by private investors is calculated by deducting from the total amount of securities outstanding, the securities held by U. S. Government agencies and trust funds and by Federal Reserve Banks.
5/ Includes public non-marketable issues which have not at any time aggregated as much as $3,000,000.
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(In millions of dollars)
<table><tr><th></th><th colspan="12">Net market purchases or sales (-)</th></tr><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>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>5.0</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><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-3</td><td>-4.4</td><td>-3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-7</td><td>-2</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-5</td><td>30.0</td><td>5.8</td><td>.3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Less than $50,000. Treasury investment accounts comprise (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. This table also includes purchases under Section 19 of the Second Liberty Bond Act, as amended.
42
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942
The following tables present summary data from the Treasury survey, as of March 31, 1942, of the ownership of securities issued or guaranteed by the United States. The large commercial and savings banks and insurance companies covered in the survey account for approximately 95 percent of the holdings of United States Government and Government-guaranteed securities held by all banks and insurance companies in the United States.
Table I.- Analysis of Ownership by Type of Security, by Call Classes and by Tax-Exemption Provisions
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th>Classification</th><th>Total amount outstanding</th><th colspan="5">Held by banks and insurance companies covered in Treasury survey</th><th>Held by U.S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Sold by all other investors</th></tr><tr><th></th><th>Total 7,034 institutions</th><th>Total</th><th>6,277 banks</th><th>757 insurance companies</th><th>560 fire, casualty, and marine insurance companies</th><th></th><th></th><th></th></tr><tr><th>1. Type of security</th><th></th><th></th><th>5,785 commercial banks</th><th>492 mutual savings banks</th><th>Total life insurance companies</th><th></th><th></th><th></th></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>1,652</td><td>796</td><td>728</td><td>710</td><td>17</td><td>69</td><td>18</td><td>51</td><td>-</td><td>856</td></tr><tr><td>Treasury notes</td><td>5,571</td><td>3,307</td><td>3,062</td><td>2,941</td><td>122</td><td>245</td><td>155</td><td>90</td><td>750</td><td>1,514</td></tr><tr><td>Treasury bonds</td><td>35,910</td><td>24,265</td><td>17,050</td><td>13,770</td><td>3,280</td><td>7,215</td><td>5,897</td><td>1,318</td><td>3,810</td><td>7,835</td></tr><tr><td>Other bonds</td><td>196</td><td>13</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>1</td><td>32</td><td>151</td></tr><tr><td>Guaranteed issues 3/</td><td>5,666</td><td>4,371</td><td>3,904</td><td>3,689</td><td>215</td><td>467</td><td>385</td><td>82</td><td>288</td><td>1,008</td></tr><tr><td>Total</td><td>48,995</td><td>32,752</td><td>24,756</td><td>21,122</td><td>3,634</td><td>7,996</td><td>6,455</td><td>1,541</td><td>4,880</td><td>11,363</td></tr><tr><td>2. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>3,881</td><td>2,283</td><td>2,115</td><td>2,026</td><td>90</td><td>168</td><td>81</td><td>87</td><td>192</td><td>1,406</td></tr><tr><td>1 to 5 years</td><td>17,642</td><td>11,480</td><td>9,422</td><td>8,589</td><td>834</td><td>2,058</td><td>1,611</td><td>447</td><td>1,729</td><td>4,432</td></tr><tr><td>5 to 10 years</td><td>14,333</td><td>10,373</td><td>7,999</td><td>6,593</td><td>1,406</td><td>2,374</td><td>1,928</td><td>446</td><td>1,599</td><td>2,360</td></tr><tr><td>10 to 15 years</td><td>7,948</td><td>5,134</td><td>3,491</td><td>2,628</td><td>863</td><td>1,643</td><td>1,362</td><td>281</td><td>835</td><td>1,979</td></tr><tr><td>15 to 20 years</td><td>2,454</td><td>1,768</td><td>658</td><td>584</td><td>74</td><td>1,110</td><td>894</td><td>217</td><td>201</td><td>484</td></tr><tr><td>Over 20 years</td><td>2,716</td><td>1,698</td><td>1,067</td><td>699</td><td>368</td><td>632</td><td>567</td><td>64</td><td>322</td><td>695</td></tr><tr><td>Federal Housing Administration debentures</td><td>21</td><td>15</td><td>3</td><td>3</td><td>1</td><td>12</td><td>12</td><td>*</td><td>-</td><td>5</td></tr><tr><td>Total</td><td>48,995</td><td>32,752</td><td>24,756</td><td>21,122</td><td>3,634</td><td>7,996</td><td>6,455</td><td>1,541</td><td>4,880</td><td>11,363</td></tr><tr><td>3. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 4/</td><td>4,032</td><td>1,907</td><td>1,763</td><td>1,698</td><td>65</td><td>144</td><td>85</td><td>59</td><td>703</td><td>1,422</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>30,620</td><td>20,523</td><td>14,675</td><td>12,893</td><td>1,782</td><td>5,848</td><td>4,658</td><td>1,189</td><td>3,237</td><td>6,860</td></tr><tr><td>Subject to Federal income taxes</td><td>14,343</td><td>10,322</td><td>8,318</td><td>6,530</td><td>1,787</td><td>2,005</td><td>1,711</td><td>293</td><td>940</td><td>3,081</td></tr><tr><td>Total</td><td>48,995</td><td>32,752</td><td>24,756</td><td>21,122</td><td>3,634</td><td>7,996</td><td>6,455</td><td>1,541</td><td>4,880</td><td>11,363</td></tr></table>
(Continued on following page)
43
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942 - (Continued)
Table 1
Analysis of Ownership by Type of Security, by Call Classes and by Tax-Exemption Provisions - (Continued)
PART B
PERCENTAGE DISTRIBUTION BY CLASSES OF SECURITIES
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,034 institutions</th><th colspan="2">6,277 banks</th><th colspan="3">757 insurance companies</th></tr><tr><th></th><th></th><th>Total</th><th>5,785 commercial banks</th><th>492 mutual savings banks</th><th>Total</th><th>197 life insurance companies</th><th>560 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>1. By type of security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>3.4</td><td>2.4</td><td>2.9</td><td>3.4</td><td>.5</td><td>.9</td><td>.3</td><td>3.3</td><td>-</td><td>7.5</td></tr><tr><td>Treasury notes</td><td>11.4</td><td>10.1</td><td>12.4</td><td>13.9</td><td>3.3</td><td>3.1</td><td>2.4</td><td>5.8</td><td>15.4</td><td>13.3</td></tr><tr><td>Treasury bonds</td><td>73.3</td><td>74.1</td><td>68.9</td><td>65.2</td><td>90.3</td><td>90.2</td><td>91.4</td><td>85.5</td><td>78.1</td><td>68.9</td></tr><tr><td>Other bonds</td><td>.4</td><td>*</td><td>*</td><td>.1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>.7</td><td>1.3</td></tr><tr><td>Guaranteed issues 3/</td><td>11.6</td><td>13.3</td><td>15.8</td><td>17.5</td><td>5.9</td><td>5.8</td><td>6.0</td><td>5.3</td><td>5.9</td><td>8.9</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><td>2. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>7.9</td><td>7.0</td><td>8.5</td><td>9.6</td><td>2.5</td><td>2.1</td><td>1.3</td><td>5.6</td><td>3.9</td><td>12.4</td></tr><tr><td>1 to 5 years</td><td>36.0</td><td>35.1</td><td>38.1</td><td>40.7</td><td>22.8</td><td>25.7</td><td>25.0</td><td>29.0</td><td>35.4</td><td>39.0</td></tr><tr><td>5 to 10 years</td><td>29.3</td><td>31.7</td><td>32.3</td><td>31.2</td><td>38.7</td><td>29.7</td><td>29.9</td><td>28.9</td><td>32.8</td><td>20.8</td></tr><tr><td>10 to 15 years</td><td>16.2</td><td>15.7</td><td>14.1</td><td>12.4</td><td>23.7</td><td>20.5</td><td>21.1</td><td>18.2</td><td>17.1</td><td>17.4</td></tr><tr><td>15 to 20 years</td><td>5.0</td><td>5.4</td><td>2.7</td><td>2.8</td><td>2.0</td><td>13.9</td><td>13.8</td><td>14.1</td><td>4.1</td><td>4.3</td></tr><tr><td>Over 20 years</td><td>5.5</td><td>5.2</td><td>4.3</td><td>3.3</td><td>10.1</td><td>7.9</td><td>8.8</td><td>4.2</td><td>6.6</td><td>6.1</td></tr><tr><td>Federal Housing Administration debentures</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>.1</td><td>.2</td><td>*</td><td>-</td><td>*</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><td>3. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 4/</td><td>8.2</td><td>5.8</td><td>7.1</td><td>8.0</td><td>1.8</td><td>1.8</td><td>1.3</td><td>3.8</td><td>14.4</td><td>12.5</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>62.5</td><td>62.7</td><td>59.3</td><td>61.0</td><td>49.0</td><td>73.1</td><td>72.2</td><td>77.2</td><td>66.3</td><td>60.4</td></tr><tr><td>Subject to Federal income taxes</td><td>29.3</td><td>31.5</td><td>33.6</td><td>30.9</td><td>49.2</td><td>25.1</td><td>26.5</td><td>19.0</td><td>19.3</td><td>27.1</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr></table>
PART C
PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="7">Public marketable interest-bearing securities 1/ Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,034 institutions</th><th>Total</th><th>6,277 commercial banks</th><th>492 mutual savings banks</th><th>757 insurance companies</th><th>197 life insurance companies</th><th>560 fire, casualty, and marine insurance companies</th></tr><tr><td>1. By type of security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>100.0</td><td>48.2</td><td>44.0</td><td>43.0</td><td>1.1</td><td>4.2</td><td>1.1</td><td>3.1</td><td>-</td><td>51.8</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>59.4</td><td>55.0</td><td>52.8</td><td>2.2</td><td>4.4</td><td>2.8</td><td>1.6</td><td>13.5</td><td>27.2</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>67.6</td><td>47.5</td><td>38.3</td><td>9.1</td><td>20.1</td><td>16.4</td><td>3.7</td><td>10.6</td><td>21.8</td></tr><tr><td>Other bonds</td><td>100.0</td><td>6.6</td><td>6.2</td><td>6.1</td><td>.1</td><td>.4</td><td>.1</td><td>.3</td><td>16.6</td><td>76.8</td></tr><tr><td>Guaranteed issues 3/</td><td>100.0</td><td>77.1</td><td>68.9</td><td>65.1</td><td>3.8</td><td>8.2</td><td>6.8</td><td>1.4</td><td>5.1</td><td>17.8</td></tr><tr><td>Total</td><td>100.0</td><td>66.8</td><td>50.5</td><td>43.1</td><td>7.4</td><td>16.3</td><td>13.2</td><td>3.1</td><td>10.0</td><td>23.2</td></tr><tr><td>2. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>100.0</td><td>58.5</td><td>54.5</td><td>52.2</td><td>2.3</td><td>4.3</td><td>2.1</td><td>2.2</td><td>5.0</td><td>36.2</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>65.1</td><td>53.4</td><td>48.7</td><td>4.7</td><td>11.7</td><td>9.1</td><td>2.5</td><td>9.8</td><td>25.1</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>72.4</td><td>55.8</td><td>46.0</td><td>9.8</td><td>16.6</td><td>13.4</td><td>3.1</td><td>11.2</td><td>16.5</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>64.6</td><td>43.9</td><td>33.1</td><td>10.9</td><td>20.7</td><td>17.1</td><td>3.5</td><td>10.5</td><td>24.9</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>72.1</td><td>26.8</td><td>23.8</td><td>3.0</td><td>45.2</td><td>36.4</td><td>8.8</td><td>8.2</td><td>19.7</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>62.5</td><td>39.3</td><td>25.7</td><td>13.5</td><td>23.3</td><td>20.9</td><td>2.4</td><td>11.9</td><td>25.6</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>73.7</td><td>16.1</td><td>13.2</td><td>2.8</td><td>57.6</td><td>57.1</td><td>.4</td><td>-</td><td>26.3</td></tr><tr><td>Total</td><td>100.0</td><td>66.8</td><td>50.5</td><td>43.1</td><td>7.4</td><td>16.3</td><td>13.2</td><td>3.1</td><td>10.0</td><td>23.2</td></tr><tr><td>3. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 4/</td><td>100.0</td><td>47.3</td><td>43.7</td><td>42.1</td><td>1.6</td><td>3.6</td><td>2.1</td><td>1.5</td><td>17.4</td><td>35.3</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>100.0</td><td>67.0</td><td>47.9</td><td>42.1</td><td>5.8</td><td>19.1</td><td>15.2</td><td>3.9</td><td>10.6</td><td>22.4</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>72.0</td><td>58.0</td><td>45.5</td><td>12.5</td><td>14.0</td><td>11.9</td><td>2.0</td><td>6.6</td><td>21.5</td></tr><tr><td>Total</td><td>100.0</td><td>66.8</td><td>50.5</td><td>43.1</td><td>7.4</td><td>16.3</td><td>13.2</td><td>3.1</td><td>10.0</td><td>23.2</td></tr></table>
Note: Figures are rounded to the nearest million or the nearest one-tenth of one percent and will not necessarily add to totals.
Less than $500,000 or less than .05%.
1/ Public marketable securities include all securities issued except (1) special issues to Government agencies and trust funds, (2) adjusted service bonds, (3) depositary bonds, (4) United States savings bonds, and (5) tax series notes. Such obligations were held by institutions reporting, as follows: (1) depositary bonds - commercial banks, $66 millions; (2) United States savings bonds - commercial banks, $177 millions; mutual savings banks, $35 millions; insurance companies, $60 millions; all institutions, $273 millions; (3) tax series notes - commercial banks, $38 millions; insurance companies, $10 millions; all institutions, $48 millions.
2/ Excludes Exchange Stabilisation Fund. 
3/ Excludes obligations sold directly to the Treasury. 
4/ Securities the income from which is exempt from the normal rates and the surtax rates of the Federal income tax. 
5/ Securities the income from which is exempt from the normal rates of the Federal income tax. (In the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any single holder is also exempt from the surtax rates of the Federal income tax.)
44
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total 7.034 institutions</th><th colspan="4">Held by banks and insurance companies covered in Treasury survey</th><th>Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,277 banks</th><th colspan="3">757 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5.785 commercial banks</th><th>492 mutual savings banks</th><th>Total</th><th>197 life insurance companies</th><th>560 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>1. Wholly exempt from Federal income taxes 3/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2% September 1942</td><td>342</td><td>137</td><td>110</td><td>95</td><td>14</td><td>27</td><td>21</td><td>6</td><td>66</td><td>139</td></tr><tr><td>1-3/4% December 1942</td><td>232</td><td>102</td><td>89</td><td>78</td><td>10</td><td>13</td><td>6</td><td>8</td><td>31</td><td>99</td></tr><tr><td>1-1/8% June 1943</td><td>629</td><td>304</td><td>290</td><td>277</td><td>12</td><td>14</td><td>3</td><td>11</td><td>118</td><td>207</td></tr><tr><td>1% September 1943</td><td>279</td><td>192</td><td>186</td><td>180</td><td>6</td><td>6</td><td>3</td><td>3</td><td>37</td><td>50</td></tr><tr><td>1-1/8% December 1943</td><td>421</td><td>177</td><td>143</td><td>137</td><td>6</td><td>34</td><td>28</td><td>6</td><td>72</td><td>172</td></tr><tr><td>1% March 1944</td><td>525</td><td>286</td><td>277</td><td>270</td><td>7</td><td>9</td><td>2</td><td>7</td><td>111</td><td>119</td></tr><tr><td>3/4% June 1944</td><td>416</td><td>236</td><td>229</td><td>226</td><td>2</td><td>8</td><td>2</td><td>5</td><td>77</td><td>102</td></tr><tr><td>1% September 1944</td><td>283</td><td>54</td><td>54</td><td>49</td><td>4</td><td>*</td><td>-</td><td>*</td><td>62</td><td>167</td></tr><tr><td>3/4% March 1945</td><td>718</td><td>406</td><td>375</td><td>373</td><td>2</td><td>31</td><td>20</td><td>12</td><td>96</td><td>216</td></tr><tr><td>Total Treasury notes</td><td>3,836</td><td>1,894</td><td>1,751</td><td>1,686</td><td>65</td><td>143</td><td>85</td><td>58</td><td>670</td><td>1,271</td></tr><tr><td>Bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings</td><td>117</td><td>12</td><td>11</td><td>11</td><td>*</td><td>1</td><td>*</td><td>*</td><td>32</td><td>73</td></tr><tr><td>Panama Canal</td><td>50</td><td>1</td><td>1</td><td>1</td><td>-</td><td>*</td><td>*</td><td>*</td><td>-</td><td>49</td></tr><tr><td>Conversion</td><td>29</td><td>*</td><td>*</td><td>*</td><td>-</td><td>*</td><td>*</td><td>*</td><td>-</td><td>29</td></tr><tr><td>Total bonds</td><td>196</td><td>13</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>1</td><td>32</td><td>151</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>4,032</td><td>1,907</td><td>1,763</td><td>1,698</td><td>65</td><td>144</td><td>85</td><td>59</td><td>703</td><td>1,422</td></tr><tr><td>II. Partially exempt from Federal income taxee 4/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-3/8% June 1943-47</td><td>454</td><td>262</td><td>196</td><td>137</td><td>59</td><td>67</td><td>50</td><td>17</td><td>49</td><td>142</td></tr><tr><td>3-1/4% October 1943-45</td><td>1,401</td><td>795</td><td>600</td><td>524</td><td>76</td><td>195</td><td>144</td><td>51</td><td>117</td><td>489</td></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>911</td><td>662</td><td>585</td><td>77</td><td>249</td><td>198</td><td>51</td><td>144</td><td>464</td></tr><tr><td>4% December 1944-54</td><td>1,037</td><td>641</td><td>448</td><td>378</td><td>70</td><td>193</td><td>154</td><td>39</td><td>100</td><td>296</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>799</td><td>583</td><td>510</td><td>73</td><td>217</td><td>174</td><td>43</td><td>109</td><td>306</td></tr><tr><td>2-1/2% December 1945</td><td>541</td><td>423</td><td>326</td><td>299</td><td>26</td><td>97</td><td>61</td><td>36</td><td>28</td><td>90</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>313</td><td>205</td><td>169</td><td>37</td><td>107</td><td>92</td><td>15</td><td>58</td><td>118</td></tr><tr><td>3% June 1946-48</td><td>1,036</td><td>651</td><td>461</td><td>379</td><td>82</td><td>190</td><td>157</td><td>33</td><td>184</td><td>201</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>497</td><td>355</td><td>284</td><td>71</td><td>142</td><td>117</td><td>25</td><td>63</td><td>258</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>416</td><td>279</td><td>218</td><td>61</td><td>138</td><td>81</td><td>57</td><td>80</td><td>262</td></tr><tr><td>2% December 1947</td><td>701</td><td>578</td><td>501</td><td>483</td><td>19</td><td>76</td><td>52</td><td>25</td><td>28</td><td>95</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,223</td><td>938</td><td>693</td><td>589</td><td>104</td><td>245</td><td>207</td><td>38</td><td>145</td><td>141</td></tr><tr><td>2-1/2% September 1948</td><td>451</td><td>373</td><td>293</td><td>273</td><td>20</td><td>79</td><td>66</td><td>13</td><td>26</td><td>52</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>456</td><td>393</td><td>384</td><td>9</td><td>63</td><td>44</td><td>19</td><td>51</td><td>94</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>383</td><td>239</td><td>170</td><td>69</td><td>144</td><td>106</td><td>38</td><td>43</td><td>65</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,234</td><td>962</td><td>847</td><td>115</td><td>272</td><td>218</td><td>54</td><td>263</td><td>290</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>911</td><td>693</td><td>582</td><td>110</td><td>218</td><td>173</td><td>45</td><td>129</td><td>146</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,185</td><td>719</td><td>565</td><td>154</td><td>465</td><td>401</td><td>64</td><td>194</td><td>249</td></tr><tr><td>3% September 1951-55</td><td>755</td><td>313</td><td>219</td><td>139</td><td>79</td><td>95</td><td>74</td><td>21</td><td>124</td><td>319</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>824</td><td>751</td><td>698</td><td>52</td><td>74</td><td>55</td><td>19</td><td>159</td><td>155</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>651</td><td>602</td><td>585</td><td>18</td><td>29</td><td>14</td><td>15</td><td>32</td><td>62</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>530</td><td>395</td><td>370</td><td>24</td><td>135</td><td>104</td><td>31</td><td>51</td><td>100</td></tr><tr><td>2-7/8% March 1955-60</td><td>2,611</td><td>1,132</td><td>548</td><td>421</td><td>127</td><td>584</td><td>469</td><td>115</td><td>428</td><td>1,051</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>607</td><td>320</td><td>279</td><td>41</td><td>287</td><td>227</td><td>60</td><td>177</td><td>198</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>690</td><td>256</td><td>214</td><td>41</td><td>434</td><td>351</td><td>83</td><td>85</td><td>144</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,078</td><td>402</td><td>369</td><td>33</td><td>676</td><td>542</td><td>134</td><td>117</td><td>291</td></tr><tr><td>Total Treasury bonds</td><td>26,581</td><td>17,571</td><td>12,099</td><td>10,453</td><td>1,046</td><td>5,472</td><td>4,332</td><td>1,140</td><td>2,981</td><td>6,029</td></tr></table>
(Continued on following page)
45
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART A - PAR VALUES IN MILLIONS OF DOLLARS-(Continued)
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total 7,034 institutions</th><th colspan="4">Held by banks and insurance companies covered in Treasury survey</th><th>Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th>6,277 banks</th><th>5,785 commercial banks</th><th>492 mutual savings banks</th><th>757 insurance companies</th><th>197 life insurance companies</th><th>560 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>II. Partially exempt from Federal income taxes 4/ (continued)</td><td></td><td></td><td>Total</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 3/4% May 1943</td><td>289</td><td>249</td><td>242</td><td>240</td><td>2</td><td>7</td><td>4</td><td>3</td><td>40</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1942-6% May 1944-9%</td><td>95 835</td><td>62 533</td><td>31 386</td><td>19 361</td><td>12 25</td><td>31 147</td><td>30 135</td><td>1 13</td><td>88 214</td></tr><tr><td>Federal Housing Administration debentures</td><td>21</td><td>15</td><td>3</td><td>3</td><td>1</td><td>12</td><td>12</td><td>*</td><td>5</td></tr><tr><td>Home Owners' Loan Corporation 2-1/4% July 1942-3% May 1944-52% 1-1/2% June 1945-47%</td><td>875 779 755</td><td>706 386 670</td><td>685 294 620</td><td>655 250 605</td><td>30 44 15</td><td>21 92 50</td><td>10 85 42</td><td>11 7 8</td><td>23 139 79</td></tr><tr><td>Reconstruction Finance Corporation 1% July 1942</td><td>276</td><td>232</td><td>221</td><td>216</td><td>5</td><td>11</td><td>8</td><td>4</td><td>44</td></tr><tr><td>United States Housing Authority 1-3/8% February 1944</td><td>114</td><td>98</td><td>95</td><td>93</td><td>2</td><td>3</td><td>2</td><td>2</td><td>16</td></tr><tr><td>Total guaranteed issues</td><td>4,039</td><td>2,952</td><td>2,576</td><td>2,440</td><td>135</td><td>376</td><td>327</td><td>49</td><td>831</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>30,620</td><td>20,523</td><td>14,675</td><td>12,893</td><td>1,782</td><td>5,848</td><td>4,658</td><td>1,189</td><td>3,237</td><td>6,860</td></tr><tr><td>III. Subject to Federal income taxes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 1942 maturities</td><td>451</td><td>125</td><td>116</td><td>113</td><td>3</td><td>9</td><td>2</td><td>8</td><td>325</td></tr><tr><td>May 1942 maturities</td><td>601</td><td>362</td><td>329</td><td>320</td><td>10</td><td>33</td><td>13</td><td>20</td><td>239</td></tr><tr><td>June 1942 maturities</td><td>601</td><td>309</td><td>282</td><td>278</td><td>5</td><td>27</td><td>4</td><td>23</td><td>292</td></tr><tr><td>Total Treasury bills</td><td>1,652</td><td>796</td><td>728</td><td>710</td><td>17</td><td>69</td><td>18</td><td>51</td><td>856</td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3/4% March 1943</td><td>66</td><td>16</td><td>14</td><td>12</td><td>2</td><td>2</td><td>2</td><td>*</td><td>39 11</td></tr><tr><td>3/4% September 1944</td><td>635</td><td>516</td><td>483</td><td>463</td><td>19</td><td>33</td><td>22</td><td>11</td><td>20 99</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>448</td><td>415</td><td>393</td><td>22</td><td>32</td><td>22</td><td>10</td><td>13 70</td></tr><tr><td>1% March 1946</td><td>503</td><td>433</td><td>399</td><td>386</td><td>13</td><td>34</td><td>24</td><td>11</td><td>7 63</td></tr><tr><td>Total Treasury notes</td><td>1,735</td><td>1,413</td><td>1,311</td><td>1,254</td><td>57</td><td>101</td><td>70</td><td>32</td><td>80 242</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2% March 1948-50</td><td>1,115</td><td>906</td><td>703</td><td>538</td><td>165</td><td>203</td><td>189</td><td>15</td><td>84 125</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>797</td><td>697</td><td>581</td><td>116</td><td>100</td><td>84</td><td>16</td><td>98 118</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>350</td><td>312</td><td>285</td><td>27</td><td>38</td><td>25</td><td>13</td><td>62 96</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>709</td><td>546</td><td>240</td><td>306</td><td>163</td><td>152</td><td>10</td><td>112 203</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,189</td><td>959</td><td>702</td><td>257</td><td>230</td><td>197</td><td>33</td><td>44 268</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,044</td><td>667</td><td>272</td><td>395</td><td>377</td><td>351</td><td>26</td><td>104 300</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,698</td><td>1,067</td><td>699</td><td>368</td><td>632</td><td>567</td><td>64</td><td>322 695</td></tr><tr><td>Total Treasury bonds</td><td>9,329</td><td>6,694</td><td>4,951</td><td>3,317</td><td>1,634</td><td>1,743</td><td>1,566</td><td>178</td><td>829 1,806</td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 1-1/8% February 1945</td><td>412</td><td>344</td><td>310</td><td>290</td><td>20</td><td>35</td><td>27</td><td>8</td><td>22 45</td></tr><tr><td>Reconstruction Finance Corporation 7/8% October 1942-1-1/8% July 1943-1% April 1944</td><td>320 324 571</td><td>283 286 506</td><td>259 271 488</td><td>249 249 461</td><td>10 22 27</td><td>23 15 18</td><td>16 7 8</td><td>7 9 2</td><td>*</td></tr><tr><td>Total guaranteed issues</td><td>1,627</td><td>1,419</td><td>1,328</td><td>1,249</td><td>79</td><td>91</td><td>58</td><td>33</td><td>32 177</td></tr><tr><td>Total subject to Federal income taxes</td><td>14,343</td><td>10,322</td><td>8,318</td><td>6,530</td><td>1,787</td><td>2,005</td><td>1,711</td><td>293</td><td>940 3,081</td></tr><tr><td>IV. Grand total</td><td>48,995</td><td>32,752</td><td>24,756</td><td>21,122</td><td>3,634</td><td>7,996</td><td>6,455</td><td>1,541</td><td>4,880 11,363</td></tr></table>
(Continued on following page)
46
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART 8 - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th rowspan="2">Issue, classified by tax-exemption provision</th><th rowspan="2">Total amount outstanding</th><th colspan="7">Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,034 institutions</th><th colspan="2">6,277 banks</th><th colspan="2">757 insurance companies</th><th>560 fire, casualty, and marine insurance companies</th></tr><tr><th>1. Wholly exempt from Federal income taxes 3/ Treasury notes</th><td></td><td></td><td>Total</td><td>5,785 commercial banks</td><td>492 mutual savings banks</td><td>Total</td><td>197 life insurance companies</td><td></td><td></td><td></td></tr><tr><td>2% September 1942</td><td>100.0</td><td>39.9</td><td>32.0</td><td>27.9</td><td>4.2</td><td>7.9</td><td>6.3</td><td>1.7</td><td>19.3</td><td>40.7</td></tr><tr><td>1-3/4% December 1942</td><td>100.0</td><td>43.9</td><td>38.1</td><td>33.6</td><td>4.5</td><td>5.8</td><td>2.5</td><td>3.3</td><td>13.3</td><td>42.8</td></tr><tr><td>1-1/8% June 1943</td><td>100.0</td><td>48.3</td><td>46.1</td><td>44.1</td><td>2.0</td><td>2.3</td><td>.5</td><td>1.8</td><td>18.8</td><td>32.9</td></tr><tr><td>1% September 1943</td><td>100.0</td><td>68.8</td><td>66.6</td><td>64.5</td><td>2.1</td><td>2.2</td><td>1.1</td><td>1.1</td><td>13.2</td><td>18.1</td></tr><tr><td>1-1/8% December 1943</td><td>100.0</td><td>42.1</td><td>34.0</td><td>32.5</td><td>1.5</td><td>8.1</td><td>6.5</td><td>1.5</td><td>17.1</td><td>40.8</td></tr><tr><td>1% March 1944</td><td>100.0</td><td>55.4</td><td>53.7</td><td>52.4</td><td>1.3</td><td>1.7</td><td>.4</td><td>1.3</td><td>21.5</td><td>23.1</td></tr><tr><td>3/4% June 1944</td><td>100.0</td><td>56.9</td><td>55.0</td><td>54.5</td><td>.6</td><td>1.9</td><td>.6</td><td>1.3</td><td>18.5</td><td>24.6</td></tr><tr><td>1% September 1944</td><td>100.0</td><td>19.1</td><td>18.9</td><td>17.4</td><td>1.5</td><td>.2</td><td>-.2</td><td>1.6</td><td>22.0</td><td>58.9</td></tr><tr><td>3/4% March 1945</td><td>100.0</td><td>56.5</td><td>52.2</td><td>51.9</td><td>.3</td><td>4.4</td><td>2.7</td><td>1.6</td><td>13.4</td><td>30.1</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>49.4</td><td>45.6</td><td>44.0</td><td>1.7</td><td>3.7</td><td>2.2</td><td>1.5</td><td>17.5</td><td>33.1</td></tr><tr><td>Bonde</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings</td><td>100.0</td><td>10.1</td><td>9.6</td><td>9.4</td><td>.2</td><td>.5</td><td>.1</td><td>.4</td><td>27.7</td><td>62.2</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.5</td><td>1.2</td><td>1.2</td><td>-.1</td><td>.3</td><td>.2</td><td>.1</td><td>-</td><td>98.5</td></tr><tr><td>Coovereion</td><td>100.0</td><td>1.1</td><td>.9</td><td>.9</td><td>-.1</td><td>.1</td><td>-</td><td>.1</td><td>-</td><td>98.9</td></tr><tr><td>Total bonds</td><td>100.0</td><td>6.6</td><td>6.2</td><td>6.1</td><td>.1</td><td>.4</td><td>.1</td><td>.3</td><td>16.6</td><td>76.8</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>47.3</td><td>43.7</td><td>42.1</td><td>1.6</td><td>3.6</td><td>2.1</td><td>1.5</td><td>17.4</td><td>35.3</td></tr><tr><th>II. Partially exempt from Federal income taxes 4/ Treasury bonds</th><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-3/8% June 1943-47</td><td>100.0</td><td>57.8</td><td>43.1</td><td>30.2</td><td>12.9</td><td>14.6</td><td>11.0</td><td>3.7</td><td>10.9</td><td>31.3</td></tr><tr><td>3-1/4% October 1943-45</td><td>100.0</td><td>56.8</td><td>42.8</td><td>37.4</td><td>5.4</td><td>13.9</td><td>10.3</td><td>3.6</td><td>8.4</td><td>34.9</td></tr><tr><td>3-1/4% April 1944-46</td><td>100.0</td><td>60.0</td><td>43.6</td><td>38.5</td><td>5.1</td><td>16.4</td><td>13.0</td><td>3.4</td><td>9.5</td><td>30.6</td></tr><tr><td>4% December 1944-54</td><td>100.0</td><td>61.8</td><td>43.2</td><td>36.5</td><td>6.7</td><td>18.6</td><td>14.8</td><td>3.8</td><td>9.6</td><td>28.6</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>65.8</td><td>48.0</td><td>42.0</td><td>6.0</td><td>17.8</td><td>14.3</td><td>3.5</td><td>8.9</td><td>25.2</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>78.3</td><td>60.3</td><td>55.4</td><td>4.9</td><td>18.0</td><td>11.3</td><td>6.7</td><td>5.1</td><td>16.6</td></tr><tr><td>3-3/4% March 1946-56</td><td>100.0</td><td>64.0</td><td>42.0</td><td>34.5</td><td>7.5</td><td>22.0</td><td>18.8</td><td>3.2</td><td>11.9</td><td>24.1</td></tr><tr><td>3% June 1946-48</td><td>100.0</td><td>62.8</td><td>44.5</td><td>36.6</td><td>7.9</td><td>18.3</td><td>15.2</td><td>3.1</td><td>17.8</td><td>19.4</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>60.7</td><td>43.3</td><td>34.7</td><td>8.6</td><td>17.4</td><td>14.3</td><td>3.1</td><td>7.8</td><td>31.5</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>54.9</td><td>36.7</td><td>28.7</td><td>8.0</td><td>18.2</td><td>10.6</td><td>7.5</td><td>10.5</td><td>34.6</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>82.4</td><td>71.5</td><td>68.8</td><td>2.7</td><td>10.9</td><td>7.4</td><td>3.5</td><td>4.0</td><td>13.6</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>76.6</td><td>56.6</td><td>48.1</td><td>8.5</td><td>20.0</td><td>17.0</td><td>3.1</td><td>11.8</td><td>11.5</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>82.6</td><td>65.0</td><td>60.6</td><td>4.4</td><td>17.6</td><td>14.7</td><td>2.9</td><td>5.8</td><td>11.6</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>79.8</td><td>68.8</td><td>67.3</td><td>1.5</td><td>11.0</td><td>7.7</td><td>3.3</td><td>9.0</td><td>11.2</td></tr><tr><td>3-1/8% December 1949-52</td><td>100.0</td><td>78.0</td><td>48.7</td><td>34.7</td><td>14.0</td><td>29.3</td><td>21.6</td><td>7.7</td><td>8.8</td><td>13.2</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>69.1</td><td>53.9</td><td>47.4</td><td>6.4</td><td>15.2</td><td>12.2</td><td>3.0</td><td>14.7</td><td>16.2</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>76.8</td><td>58.4</td><td>49.1</td><td>9.3</td><td>18.4</td><td>14.6</td><td>3.8</td><td>10.8</td><td>12.3</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>72.8</td><td>44.2</td><td>34.7</td><td>9.5</td><td>28.6</td><td>24.7</td><td>3.9</td><td>11.9</td><td>15.3</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>41.5</td><td>28.9</td><td>18.4</td><td>10.5</td><td>12.5</td><td>9.8</td><td>2.7</td><td>16.4</td><td>42.2</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>73.7</td><td>67.1</td><td>62.5</td><td>4.7</td><td>6.6</td><td>4.9</td><td>1.7</td><td>14.2</td><td>12.1</td></tr><tr><td>2% June 1953-55</td><td>100.0</td><td>87.1</td><td>83.1</td><td>80.7</td><td>2.4</td><td>4.0</td><td>2.0</td><td>2.1</td><td>4.4</td><td>8.5</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>77.8</td><td>58.0</td><td>54.4</td><td>3.6</td><td>19.9</td><td>15.3</td><td>4.6</td><td>7.5</td><td>14.7</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>43.4</td><td>21.0</td><td>16.1</td><td>4.9</td><td>22.4</td><td>17.9</td><td>4.4</td><td>16.4</td><td>40.2</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>61.9</td><td>32.6</td><td>28.4</td><td>4.2</td><td>29.3</td><td>23.1</td><td>6.1</td><td>18.0</td><td>20.1</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>75.1</td><td>27.8</td><td>23.4</td><td>4.5</td><td>47.2</td><td>38.2</td><td>9.0</td><td>9.2</td><td>15.7</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>72.6</td><td>27.0</td><td>24.8</td><td>2.2</td><td>45.5</td><td>36.5</td><td>9.0</td><td>7.9</td><td>19.6</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>66.1</td><td>45.5</td><td>39.3</td><td>6.2</td><td>20.6</td><td>16.3</td><td>4.3</td><td>11.2</td><td>22.7</td></tr></table>
(Continued on following page)
47
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, March 31, 1942 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART B - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS-(Continued)
<table><tr><th rowspan="2">Issue, classified by tax-exemption provision</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Bald by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,034 institutions</th><th>Total</th><th>5,785 commercial banks</th><th>492 mutual savings banks</th><th>757 insurance companies</th><th>197 life insurance companies</th><th>560 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="11">II. Partially exempt from Federal income taxes 4/ (continued)</td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 3/4% May 1943</td><td>100.0</td><td>86.1</td><td>83.6</td><td>82.8</td><td>.8</td><td>2.6</td><td>1.4</td><td>1.2</td><td>13.9</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1944-49</td><td>100.0</td><td>65.8</td><td>32.7</td><td>20.5</td><td>12.2</td><td>33.1</td><td>31.8</td><td>1.3</td><td>.2</td><td>34.0</td></tr><tr><td>3% May 1944-49</td><td>100.0</td><td>63.8</td><td>46.2</td><td>43.2</td><td>3.0</td><td>17.6</td><td>16.1</td><td>1.5</td><td>10.5</td><td>25.6</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>73.7</td><td>16.1</td><td>13.2</td><td>2.8</td><td>57.6</td><td>57.1</td><td>.4</td><td></td><td>26.3</td></tr><tr><td>Base Owners' Loan Corporation 2-1/4% July 1942-44</td><td>100.0</td><td>80.6</td><td>78.2</td><td>74.8</td><td>3.4</td><td>2.4</td><td>1.2</td><td>1.3</td><td>2.6</td><td>16.8</td></tr><tr><td>3% May 1944-52</td><td>100.0</td><td>49.5</td><td>37.7</td><td>32.1</td><td>5.7</td><td>11.8</td><td>10.9</td><td>.9</td><td>17.9</td><td>32.6</td></tr><tr><td>1-1/2% June 1945-47</td><td>100.0</td><td>88.8</td><td>82.2</td><td>80.1</td><td>2.0</td><td>6.6</td><td>5.6</td><td>1.1</td><td>.7</td><td>10.5</td></tr><tr><td>Reconstruction Finance Corporation 1% July 1942</td><td>100.0</td><td>84.0</td><td>80.0</td><td>78.2</td><td>1.8</td><td>4.0</td><td>2.8</td><td>1.3</td><td>.1</td><td>15.9</td></tr><tr><td>United States Housing Authority 1-3/8% February 1944</td><td>100.0</td><td>85.9</td><td>83.0</td><td>81.4</td><td>1.6</td><td>2.9</td><td>1.3</td><td>1.6</td><td>.4</td><td>13.7</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>73.1</td><td>63.8</td><td>60.4</td><td>3.4</td><td>9.3</td><td>8.1</td><td>1.2</td><td>6.3</td><td>20.6</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>67.0</td><td>47.9</td><td>42.1</td><td>5.8</td><td>19.1</td><td>15.2</td><td>3.9</td><td>10.6</td><td>22.4</td></tr><tr><td colspan="11">III. Subject to Federal income taxes</td></tr><tr><td>Treasury bills</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 1942 maturities</td><td>100.0</td><td>27.8</td><td>25.8</td><td>25.1</td><td>.7</td><td>2.1</td><td>.3</td><td>1.7</td><td></td><td>72.2</td></tr><tr><td>May 1942 maturities</td><td>100.0</td><td>60.3</td><td>54.9</td><td>53.2</td><td>1.6</td><td>5.4</td><td>2.1</td><td>3.3</td><td></td><td>39.7</td></tr><tr><td>June 1942 maturities</td><td>100.0</td><td>51.4</td><td>46.9</td><td>46.2</td><td>.8</td><td>4.5</td><td>.7</td><td>3.8</td><td></td><td>48.6</td></tr><tr><td>Total Treasury bills</td><td>100.0</td><td>48.2</td><td>44.0</td><td>43.0</td><td>1.1</td><td>4.2</td><td>1.1</td><td>3.1</td><td></td><td>51.8</td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3/4% March 1943</td><td>100.0</td><td>24.0</td><td>21.3</td><td>17.8</td><td>3.5</td><td>2.7</td><td>2.4</td><td>.2</td><td>59.6</td><td>16.4</td></tr><tr><td>3/4% September 1944</td><td>100.0</td><td>81.3</td><td>76.0</td><td>73.0</td><td>3.1</td><td>5.2</td><td>3.5</td><td>1.7</td><td>3.1</td><td>15.6</td></tr><tr><td>3/4% December 1945</td><td>100.0</td><td>84.3</td><td>78.3</td><td>74.1</td><td>4.1</td><td>6.1</td><td>4.2</td><td>1.9</td><td>2.5</td><td>13.1</td></tr><tr><td>1% March 1946</td><td>100.0</td><td>86.2</td><td>79.3</td><td>76.7</td><td>2.6</td><td>6.8</td><td>4.7</td><td>2.1</td><td>1.4</td><td>12.5</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>81.4</td><td>75.6</td><td>72.3</td><td>3.3</td><td>5.8</td><td>4.0</td><td>1.8</td><td>4.6</td><td>14.0</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2% March 1948-50</td><td>100.0</td><td>81.2</td><td>63.0</td><td>48.2</td><td>18.8</td><td>16.9</td><td>16.9</td><td>1.3</td><td>7.6</td><td>11.2</td></tr><tr><td>2% June 1949-51</td><td>100.0</td><td>78.6</td><td>68.8</td><td>57.3</td><td>11.5</td><td>9.9</td><td>8.3</td><td>1.6</td><td>9.7</td><td>11.6</td></tr><tr><td>2% December 1951-55</td><td>100.0</td><td>68.7</td><td>61.1</td><td>55.9</td><td>5.2</td><td>7.5</td><td>4.9</td><td>2.6</td><td>12.5</td><td>18.9</td></tr><tr><td>2-1/2% March 1952-54</td><td>100.0</td><td>69.2</td><td>53.3</td><td>23.4</td><td>29.9</td><td>15.9</td><td>14.9</td><td>1.0</td><td>11.0</td><td>19.8</td></tr><tr><td>2-1/4% June 1952-55</td><td>100.0</td><td>79.2</td><td>63.9</td><td>46.8</td><td>17.1</td><td>15.3</td><td>13.1</td><td>2.2</td><td>2.5</td><td>17.8</td></tr><tr><td>2-1/2% March 1966-58</td><td>100.0</td><td>72.1</td><td>46.0</td><td>18.8</td><td>27.3</td><td>26.0</td><td>24.3</td><td>1.8</td><td>7.2</td><td>20.7</td></tr><tr><td>2-1/2% September 1967-72</td><td>100.0</td><td>62.5</td><td>39.3</td><td>25.7</td><td>13.5</td><td>23.3</td><td>20.9</td><td>2.4</td><td>11.9</td><td>25.6</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>71.8</td><td>53.1</td><td>35.6</td><td>17.5</td><td>18.7</td><td>16.8</td><td>1.9</td><td>8.9</td><td>19.4</td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 1-1/8% February 1945</td><td>100.0</td><td>83.7</td><td>75.3</td><td>70.4</td><td>4.8</td><td>8.4</td><td>6.5</td><td>1.9</td><td>5.4</td><td>10.9</td></tr><tr><td>Reconstruction Finance Corporation 7/8% October 1942</td><td>100.0</td><td>88.3</td><td>81.0</td><td>77.8</td><td>3.2</td><td>7.3</td><td>5.0</td><td>2.3</td><td>.2</td><td>11.5</td></tr><tr><td>1-1/8% July 1947</td><td>100.0</td><td>88.1</td><td>83.4</td><td>76.7</td><td>6.7</td><td>4.7</td><td>2.0</td><td>2.7</td><td>.3</td><td>11.6</td></tr><tr><td>1% April 1944</td><td>100.0</td><td>88.6</td><td>85.5</td><td>80.7</td><td>4.8</td><td>3.1</td><td>1.5</td><td>1.6</td><td>1.4</td><td>10.0</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>87.2</td><td>81.6</td><td>76.7</td><td>4.9</td><td>5.6</td><td>3.6</td><td>2.0</td><td>1.9</td><td>10.9</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>72.0</td><td>58.0</td><td>45.5</td><td>12.5</td><td>14.0</td><td>11.9</td><td>2.0</td><td>6.6</td><td>21.5</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>66.8</td><td>50.5</td><td>43.1</td><td>7.4</td><td>16.3</td><td>13.2</td><td>3.1</td><td>10.0</td><td>23.2</td></tr></table>
Notes: Figures are rounded to the nearest million or the nearest one-tenth of one percent and will not necessarily add to totals. Less than $500,000
1/ Public marketable securities include all securities issued except (1) special issues to Government agencies and trust funds, (2) adjusted service bonds, (3) depository bonds, (4) United States savings bonds, and (5) tax series notes. Such obligations were held by institutions reporting, as follows: (1) depository bonds - commercial banks, $66 millions; (2) United States savings bonds - commercial banks, $177 millions; mutual savings banks, $35 millions; insurance companies, $50 millions; all institutions, $273 millions; (3) tax series notes - commercial banks, $38 millions; insurance companies, $10 millions; all institutions, $48 millions.
2/ Excludes Exchange Stabilization Fund.
3/ Securities the income from which is exempt from the normal rates and the surtax rates of the Federal income tax.
4/ Securities the income from which is exempt from the normal rates of the Federal income tax. (so the rate of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any single holder is also exempt from the surtax rates of the Federal income tax.)
5/ Excludes obligations sold directly to the Treasury.
PRICES AND YIELDS OF GOVERNMENT SECURITIES
(Including securities issued by Federal agencies)
— 48 —
49
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
May 15, 1942
Table I.- Securities Issued by the United States Government
PART A - BONDS 1/
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th colspan="4">Price data (Decimals are thirty-seconds)</th><th colspan="3">Yield data 2/</th><th colspan="4">Date of issue</th><th colspan="4">Price range since first traded 3/ (Decimals are thirty-seconds)</th><th colspan="4">1942 price range 3/ (Decimals are thirty-seconds)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th><th>Yield</th><th>Change in yield from a month ago</th><th>Maturity yield</th><th></th><th>High</th><th>Date</th><th>Low</th><th>Date</th><th>High</th><th>Date</th><th>Low</th><th>Date</th></tr><tr><td colspan="18"><b>Treasury bonds</b></td></tr><tr><td>$ 454</td><td>3-3/8- 6/15/43-47</td><td>102.30</td><td>103.00</td><td>102.31</td><td>-.14</td><td>.60%</td><td>+.16%</td><td>2.74%</td><td>6/15/27</td><td>111.14</td><td>6/5/39</td><td>87.20</td><td>1/11/32</td><td>104.01</td><td>1/22</td><td>102.31</td><td>5/15</td></tr><tr><td>1,401</td><td>3-1/4 -10/15/43-45</td><td>103.13</td><td>103.16</td><td>103.14</td><td>-.19</td><td>.79</td><td>+.25</td><td>2.20</td><td>10/15/33</td><td>111.07</td><td>6/5/39</td><td>97.29</td><td>1/10/34</td><td>104.20</td><td>1/22</td><td>103.14</td><td>5/15</td></tr><tr><td>1,519</td><td>3-1/4 - 4/15/44-46</td><td>104.14</td><td>104.16</td><td>104.15</td><td>-.18</td><td>.89</td><td>+.18</td><td>2.05</td><td>4/16/34</td><td>111.26</td><td>6/7/39</td><td>99.30</td><td>9/17/34</td><td>105.20</td><td>1/22</td><td>104.15</td><td>5/15</td></tr><tr><td>1,037</td><td>4 -12/15/44-54</td><td>107.22</td><td>107.24</td><td>107.23</td><td>-.19</td><td>.96</td><td>+.12</td><td>3.25</td><td>12/15/24</td><td>116.19</td><td>6/22/39</td><td>94.06</td><td>1/11/32</td><td>108.29</td><td>1/14</td><td>107.23</td><td>5/15</td></tr><tr><td>1,214</td><td>2-3/4 - 9/15/45-47</td><td>105.18</td><td>105.20</td><td>105.19</td><td>-.18</td><td>1.03</td><td>+.12</td><td>1.65</td><td>9/16/35</td><td>110.12</td><td>12/12/40</td><td>99.27</td><td>9/17/35</td><td>106.13</td><td>1/21</td><td>105.19</td><td>5/15</td></tr><tr><td>541</td><td>2-1/2 -12/15/45</td><td>105.08</td><td>105.10</td><td>105.09</td><td>-.17</td><td>.99</td><td>+.11</td><td>.99</td><td>12/15/37</td><td>109.24</td><td>12/14/40</td><td>101.31</td><td>12/15/37</td><td>105.30</td><td>1/25</td><td>105.09</td><td>5/15</td></tr><tr><td>489</td><td>3-3/4 - 3/15/46-56</td><td>109.20</td><td>109.22</td><td>109.21</td><td>-.17</td><td>1.16</td><td>+.08</td><td>2.90</td><td>3/15/26</td><td>116.14</td><td>12/14/40</td><td>89.18</td><td>1/12/32</td><td>110.16</td><td>1/14</td><td>109.21</td><td>5/15</td></tr><tr><td>1,036</td><td>3 - 6/15/46-48</td><td>107.08</td><td>107.11</td><td>107.10</td><td>-.22</td><td>1.16</td><td>+.13</td><td>1.73</td><td>6/15/34</td><td>112.28</td><td>12/16/40</td><td>97.28</td><td>9/17/34</td><td>108.04</td><td>1/28</td><td>107.10</td><td>5/15</td></tr><tr><td>819</td><td>3-1/8 - 6/15/46-49</td><td>107.21</td><td>107.23</td><td>107.22</td><td>-.22</td><td>1.19</td><td>+.13</td><td>1.96</td><td>6/15/31</td><td>113.19</td><td>12/14/40</td><td>83.05</td><td>1/11/32</td><td>108.17</td><td>1/14</td><td>107.22</td><td>5/15</td></tr><tr><td>759</td><td>4-1/4 -10/15/47-52</td><td>115.05</td><td>115.08</td><td>115.06</td><td>-.14</td><td>1.33</td><td>+.03</td><td>2.58</td><td>10/16/22</td><td>122.22</td><td>12/14/40</td><td>98.18</td><td>10/8/23</td><td>116.01</td><td>1/5</td><td>114.20</td><td>2/19</td></tr><tr><td>701</td><td>2 -12/15/47</td><td>104.19</td><td>104.21</td><td>104.20</td><td>-.11</td><td>1.14</td><td>+.05</td><td>1.14</td><td>12/15/38</td><td>107.20</td><td>12/12/40</td><td>99.14</td><td>9/25/39</td><td>105.01</td><td>3/23</td><td>103.28</td><td>2/13</td></tr><tr><td>1,115</td><td>1 2 - 3/15/48-50</td><td>101.04</td><td>101.06</td><td>101.05</td><td>-.27</td><td>1.79</td><td>+.15</td><td>1.84</td><td>3/15/41</td><td>104.05</td><td>8/2/41</td><td>100.22</td><td>2/25/41</td><td>102.01</td><td>3/23</td><td>100.31</td><td>5/4</td></tr><tr><td>1,223</td><td>2-3/4 - 3/15/48-51</td><td>107.19</td><td>107.21</td><td>107.20</td><td>-.11</td><td>1.38</td><td>+.04</td><td>1.81</td><td>3/16/36</td><td>111.18</td><td>12/12/40</td><td>99.10</td><td>4/1/37</td><td>108.06</td><td>3/23</td><td>106.16</td><td>2/13</td></tr><tr><td>451</td><td>2-1/2 - 9/15/48</td><td>106.31</td><td>107.01</td><td>107.00</td><td>-.10</td><td>1.34</td><td>+.03</td><td>1.34</td><td>3/15/38</td><td>111.01</td><td>12/12/40</td><td>100.30</td><td>4/2/38</td><td>107.17</td><td>3/23</td><td>105.31</td><td>2/13</td></tr><tr><td>571</td><td>2 -12/15/48-50</td><td>104.18</td><td>104.20</td><td>104.19</td><td>-.09</td><td>1.27</td><td>+.03</td><td>1.43</td><td>12/8/39</td><td>107.00</td><td>12/12/40</td><td>101.10</td><td>5/24/40</td><td>105.01</td><td>3/24</td><td>103.18</td><td>2/18</td></tr><tr><td>1,014</td><td>1 2 - 6/15/49-51</td><td>100.13</td><td>100.15</td><td>100.14</td><td>-.29</td><td>1.93</td><td>+.13</td><td>1.95</td><td>1/15/42</td><td>101.11</td><td>4/15/42</td><td>100.10</td><td>5/11/42</td><td>101.11</td><td>4/15</td><td>100.10</td><td>5/11</td></tr><tr><td>1,292</td><td>1 2 - 9/15/49-51</td><td>100.11</td><td>100.14</td><td>100.12</td><td>-.195</td><td>1.95</td><td>-.196</td><td>1.96</td><td>5/15/42</td><td>100.12</td><td>5/15/42</td><td>100.06</td><td>5/7/42</td><td>100.12</td><td>5/15</td><td>100.06</td><td>5/7</td></tr><tr><td>491</td><td>3-1/8 -12/15/49-52</td><td>110.22</td><td>110.25</td><td>110.24</td><td>-.04</td><td>1.61</td><td>.00</td><td>1.99</td><td>12/15/34</td><td>115.04</td><td>12/12/40</td><td>101.07</td><td>12/15/34</td><td>110.31</td><td>3/24</td><td>109.06</td><td>2/18</td></tr><tr><td>1,786</td><td>2-1/2 -12/15/49-53</td><td>106.14</td><td>106.17</td><td>106.16</td><td>-.04</td><td>1.59</td><td>+.01</td><td>1.87</td><td>12/15/36</td><td>108.28</td><td>12/10/40</td><td>96.19</td><td>4/8/37</td><td>106.25</td><td>3/24</td><td>104.28</td><td>2/18</td></tr><tr><td>1,186</td><td>2-1/2 - 9/15/50-52</td><td>106.21</td><td>106.23</td><td>106.22</td><td>-.04</td><td>1.64</td><td>+.01</td><td>1.79</td><td>9/15/38</td><td>108.30</td><td>12/10/40</td><td>99.15</td><td>9/25/39</td><td>107.00</td><td>3/24</td><td>105.02</td><td>2/18</td></tr><tr><td>1,627</td><td>2-3/4 - 6/15/51-54</td><td>108.16</td><td>108.19</td><td>108.18</td><td>-.06</td><td>1.73</td><td>+.02</td><td>1.95</td><td>6/15/36</td><td>110.26</td><td>11/12/41</td><td>98.16</td><td>4/1/37</td><td>108.29</td><td>3/24</td><td>106.28</td><td>2/18</td></tr><tr><td>755</td><td>3 - 9/15/51-55</td><td>110.20</td><td>110.22</td><td>110.21</td><td>-.02</td><td>1.76</td><td>.00</td><td>2.08</td><td>9/15/31</td><td>113.24</td><td>12/30/40</td><td>82.08</td><td>1/11/32</td><td>110.26</td><td>3/24</td><td>108.28</td><td>2/18</td></tr><tr><td>1,118</td><td>2-1/4 -12/15/51-53</td><td>105.04</td><td>105.06</td><td>105.05</td><td>-.01</td><td>1.67</td><td>.00</td><td>1.76</td><td>12/22/39</td><td>107.01</td><td>11/22/41</td><td>101.08</td><td>5/24/40</td><td>105.10</td><td>3/28</td><td>103.10</td><td>2/18</td></tr><tr><td>510</td><td>1 2 -12/15/51-55</td><td>100.07</td><td>100.09</td><td>100.08</td><td>-.14</td><td>1.97</td><td>+.05</td><td>1.98</td><td>12/15/41</td><td>101.16</td><td>12/5/41</td><td>100.01</td><td>5/12/42</td><td>100.28</td><td>1/28</td><td>100.01</td><td>5/12</td></tr><tr><td>1,024</td><td>1 2 -2-1/2 - 3/15/52-54</td><td>103.26</td><td>103.28</td><td>103.27</td><td>-.13</td><td>2.07</td><td>+.05</td><td>2.13</td><td>3/31/41</td><td>106.16</td><td>8/2/41</td><td>101.04</td><td>3/20/41</td><td>104.12</td><td>4/6</td><td>102.28</td><td>2/13</td></tr><tr><td>1,501</td><td>1 2 -2-1/4 - 6/15/52-55</td><td>101.08</td><td>101.10</td><td>101.09</td><td>-.11</td><td>2.11</td><td>+.04</td><td>2.14</td><td>2/25/42</td><td>101.25</td><td>4/4/42</td><td>100.16</td><td>2/18/42</td><td>101.25</td><td>4/4</td><td>100.16</td><td>2/18</td></tr><tr><td>725</td><td>2 - 6/15/53-55</td><td>103.20</td><td>103.22</td><td>103.21</td><td>-.01</td><td>1.64</td><td>.00</td><td>1.69</td><td>10/7/40</td><td>105.14</td><td>11/22/41</td><td>101.19</td><td>2/15/41</td><td>103.31</td><td>1/8</td><td>102.00</td><td>2/18</td></tr><tr><td>681</td><td>2-1/4 - 6/15/54-56 5/</td><td>105.04</td><td>105.07</td><td>105.06</td><td>-.01</td><td>1.77</td><td>.00</td><td>1.83</td><td>7/22/40</td><td>107.08</td><td>11/12/41</td><td>102.02</td><td>7/24/40</td><td>105.17</td><td>1/10</td><td>103.10</td><td>2/18</td></tr><tr><td>2,611</td><td>2-7/8 - 3/15/55-60 5/</td><td>110.02</td><td>110.04</td><td>110.03</td><td>-.11</td><td>1.98</td><td>+.02</td><td>2.19</td><td>3/15/35</td><td>112.16</td><td>11/1/41</td><td>98.30</td><td>9/20/35</td><td>110.18</td><td>3/24</td><td>108.00</td><td>2/18</td></tr><tr><td>1,449</td><td>1 2 -2-1/2 - 3/15/56-58 6/</td><td>102.30</td><td>103.01</td><td>103.00</td><td>-.14</td><td>2.25</td><td>+.04</td><td>2.27</td><td>6/2/41</td><td>105.08</td><td>11/5/41</td><td>101.30</td><td>12/26/41</td><td>103.16</td><td>4/4</td><td>102.00</td><td>2/17</td></tr><tr><td>982</td><td>2-3/4 - 9/15/56-59 5/</td><td>109.09</td><td>109.11</td><td>109.10</td><td>-.12</td><td>2.00</td><td>+.03</td><td>2.11</td><td>9/15/36</td><td>111.31</td><td>10/29/41</td><td>98.10</td><td>4/1/37</td><td>109.28</td><td>3/24</td><td>107.12</td><td>2/18</td></tr><tr><td>919</td><td>2-3/4 - 6/15/58-63 5/</td><td>109.16</td><td>109.18</td><td>109.17</td><td>-.09</td><td>2.05</td><td>+.02</td><td>2.18</td><td>6/15/38</td><td>112.04</td><td>11/1/41</td><td>99.15</td><td>9/25/39</td><td>109.30</td><td>3/24</td><td>107.15</td><td>2/18</td></tr><tr><td>1,485</td><td>2-3/4 -12/15/60-65 5/</td><td>110.02</td><td>110.04</td><td>110.03</td><td>-.11</td><td>2.09</td><td>+.02</td><td>2.20</td><td>12/15/38</td><td>112.24</td><td>11/1/41</td><td>99.14</td><td>9/25/39</td><td>110.16</td><td>3/24</td><td>108.04</td><td>2/18</td></tr><tr><td>882</td><td>1 2 -2-1/2 - 6/15/62-67 7/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>5/5/42</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2,716</td><td>1 2 -2-1/2 - 9/15/67-72 6/</td><td>100.28</td><td>100.31</td><td>100.30</td><td>-.10</td><td>2.45</td><td>+.02</td><td>2.46</td><td>10/20/41</td><td>103.15</td><td>11/5/41</td><td>100.01</td><td>1/2/42</td><td>101.15</td><td>4/6</td><td>100.01</td><td>1/2</td></tr><tr><td colspan="18"><b>Other bonds</b></td></tr><tr><td>16</td><td>3$ Conversion-1/1/46</td><td>108.08</td><td>109.00</td><td>108.20</td><td>-.06</td><td>.59</td><td>-.01</td><td>.59</td><td>1/1/16</td><td>115.00</td><td>1935</td><td>75.00</td><td>1920</td><td>108.30</td><td>2/11</td><td>108.18</td><td>1/15</td></tr><tr><td>13</td><td>3 Conversion-1/1/47</td><td>110.00</td><td>110.24</td><td>110.12</td><td>.00</td><td>.72</td><td>-.04</td><td>.72</td><td>1/1/17</td><td></td><td></td><td></td><td></td><td>110.14</td><td>2/11</td><td>109.28</td><td>1/15</td></tr><tr><td>50</td><td>3 Panama -6/1/61</td><td>127.00</td><td>129.00</td><td>128.00</td><td>-.16</td><td>1.33</td><td>+.02</td><td>1.33</td><td>6/1/11</td><td>128.16</td><td>4/28/42</td><td>75.00</td><td>6/18/21</td><td>128.16</td><td>4/28</td><td>124.08</td><td>1/15</td></tr></table>
T taxable issues.
1/ Excludes postal savings bonds.
2/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield columns in thirty-seconds.
1/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market, except that Treasury bond prices for the period prior to September 30, 1939 represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning September 30, 1939. Dates of highs and lows, in case of recurrences, are the latest dates.
4/ Computed on mean price to call date when prices are above par; to maturity date when prices are below par.
5/ Included in long-term average of partially tax-exempt Treasury bonds shown later in this chapter.
6/ Included in long-term average of taxable Treasury bonds shown later in this chapter.
7/ No quotations. since security is not transferable until 60 days from date of issue.
50
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
May 15, 1942 - (Continued)
Table I.- Securities Issued by the United States Government - (Continued)
PART B - TREASURY NOTES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price data (Decimals are thirty-seconds)</th><th colspan="2">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Decimals are thirty-seconds)</th><th colspan="4">1942 price range 2/ (Decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th><th>Yield</th><th>Change in yield from a month ago</th><th>High Price</th><th>Date</th><th>Low Price</th><th>Date</th><th>High Price</th><th>Date</th><th>Low Price</th><th>Date</th></tr><tr><td>$342</td><td>2% B - 9/15/42</td><td>100.19</td><td>100.21</td><td>100.20</td><td>-.11</td><td>.08%</td><td>-6/32</td><td>9/15/37</td><td>105.28</td><td>4/5/39</td><td>100.20</td><td>5/15/42</td><td>101.14</td><td>2/13</td><td>100.20</td><td>5/15</td></tr><tr><td>232</td><td>1-3/4 C - 12/15/42</td><td>100.27</td><td>100.30</td><td>100.28</td><td>-.10</td><td>.23</td><td>-5/32</td><td>12/15/37</td><td>105.03</td><td>6/24/39</td><td>100.28</td><td>5/15/42</td><td>101.24</td><td>1/28</td><td>100.28</td><td>5/15</td></tr><tr><td>66</td><td>3/4 D - 3/15/43</td><td>100.04</td><td>100.07</td><td>100.06</td><td>-.02</td><td>.52</td><td>+0.4%</td><td>3/15/41</td><td>101.04</td><td>7/25/41</td><td>100.04</td><td>1/12/42</td><td>100.14</td><td>3/12</td><td>100.04</td><td>1/12</td></tr><tr><td>629</td><td>1-1/8 A - 6/15/43</td><td>100.24</td><td>100.26</td><td>100.25</td><td>-.06</td><td>.40</td><td>+1.11</td><td>6/15/38</td><td>103.00</td><td>4/3/40</td><td>99.04</td><td>9/6/39</td><td>101.13</td><td>1/28</td><td>100.25</td><td>5/15</td></tr><tr><td>279</td><td>1 C - 9/15/43</td><td>100.24</td><td>100.26</td><td>100.25</td><td>-.05</td><td>.41</td><td>+0.08</td><td>6/15/40</td><td>102.15</td><td>11/8/40</td><td>100.22</td><td>6/11/40</td><td>101.12</td><td>1/28</td><td>100.25</td><td>5/15</td></tr><tr><td>421</td><td>1-1/8 B - 12/15/43</td><td>101.02</td><td>101.04</td><td>101.03</td><td>-.06</td><td>.43</td><td>+0.08</td><td>12/15/38</td><td>103.08</td><td>4/2/40</td><td>98.30</td><td>9/6/39</td><td>101.23</td><td>1/28</td><td>101.03</td><td>5/15</td></tr><tr><td>515</td><td>1 B - 3/15/44</td><td>100.30</td><td>101.01</td><td>101.00</td><td>-.06</td><td>.45</td><td>+0.07</td><td>11/1/39</td><td>102.15</td><td>11/9/40</td><td>100.13</td><td>6/10/40</td><td>101.18</td><td>1/28</td><td>101.00</td><td>5/15</td></tr><tr><td>416</td><td>3/4 A - 6/15/44</td><td>100.18</td><td>100.20</td><td>100.19</td><td>-.04</td><td>.46</td><td>+0.04</td><td>6/15/39</td><td>101.15</td><td>9/27/41</td><td>97.16</td><td>9/6/39</td><td>100.31</td><td>1/28</td><td>100.17</td><td>1/2</td></tr><tr><td>283</td><td>1 C - 9/15/44</td><td>101.07</td><td>101.10</td><td>101.08</td><td>-.04</td><td>.46</td><td>+0.03</td><td>12/22/39</td><td>102.16</td><td>12/9/40</td><td>100.10</td><td>6/11/40</td><td>101.22</td><td>1/28</td><td>101.04</td><td>1/2</td></tr><tr><td>535</td><td>3/4 D - 9/15/44</td><td>99.20</td><td>99.22</td><td>99.21</td><td>-.05</td><td>.90</td><td>+0.07</td><td>1/31/41</td><td>100.21</td><td>9/10/41</td><td>99.11</td><td>12/10/41</td><td>100.01</td><td>3/4</td><td>99.19</td><td>1/2</td></tr><tr><td>718</td><td>3/4 A - 3/15/45</td><td>100.22</td><td>100.24</td><td>100.23</td><td>-.06</td><td>.49</td><td>+0.05</td><td>3/15/40</td><td>101.16</td><td>8/6/41</td><td>98.26</td><td>6/10/40</td><td>101.00</td><td>3/27</td><td>100.17</td><td>1/2</td></tr><tr><td>531</td><td>3/4 B - 12/15/45</td><td>99.06</td><td>99.08</td><td>99.07</td><td>-.09</td><td>.97</td><td>+0.08</td><td>12/18/40</td><td>100.18</td><td>9/9/41</td><td>99.01</td><td>12/10/41</td><td>99.28</td><td>1/28</td><td>99.07</td><td>5/15</td></tr><tr><td>503</td><td>1 A - 3/15/46</td><td>99.18</td><td>99.20</td><td>99.19</td><td>-.08</td><td>1.11</td><td>+0.07</td><td>11/1/41</td><td>100.18</td><td>10/25/41</td><td>99.11</td><td>12/10/41</td><td>100.00</td><td>1/28</td><td>99.18</td><td>5/4</td></tr></table>
PART C - CERTIFICATES OF INDEBTEDNESS AND TREASURY BILLS
<table><tr><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Description (Issue dates in parentheses)</th><th colspan="4">Yield or discount 3/</th><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Description (Issue dates in parentheses)</th><th colspan="4">Yield or discount 3/</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th></tr><tr><td colspan="6">Certificates of indebtedness</td><td colspan="5">Treasury bills-(continued)</td></tr><tr><td>$1,507</td><td>T 1/2% A - 11/1/42 (4/15/42)</td><td>.49%</td><td>.47%</td><td>.48%</td><td>+0.3%</td><td>$150</td><td>T 6/18/42 (4/1/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.3%</td></tr><tr><td colspan="6">Treasury bills</td><td>$151</td><td>T 6/19/42 (4/8/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>-.03</td></tr><tr><td>150</td><td>T 5/20/42 (2/18/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.05</td><td>150</td><td>T 7/15/42 (4/15/42)</td><td>.35%</td><td>.25%</td><td>.30%</td><td>.00</td></tr><tr><td>150</td><td>T 5/27/42 (2/25/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.05</td><td>150</td><td>T 7/22/42 (4/22/42)</td><td>.35%</td><td>.25%</td><td>.30%</td><td>-</td></tr><tr><td>150</td><td>T 6/3/42 (3/4/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.05</td><td>150</td><td>T 7/29/42 (4/29/42)</td><td>.35%</td><td>.25%</td><td>.30%</td><td>-</td></tr><tr><td>150</td><td>T 6/10/42 (3/11/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.05</td><td>150</td><td>T 8/5/42 (5/6/42)</td><td>.37%</td><td>.30%</td><td>.34%</td><td>-</td></tr><tr><td>150</td><td>T 6/16/42 (3/25/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td>+0.03</td><td>251</td><td>T 8/12/42 (5/13/42)</td><td>.37%</td><td>.30%</td><td>.34%</td><td>-</td></tr><tr><td>150</td><td>T 6/17/42 (3/18/42)</td><td>.30%</td><td>.20%</td><td>.25%</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Table II.- Securities Issued by Federal Agencies and Guaranteed by the United States
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th colspan="4">Price data (Decimals are thirty-seconds)</th><th colspan="3">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Decimals are thirty-seconds)</th><th colspan="4">1942 price range 2/ (Decimals are thirty-seconds)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th><th>Yield 5/</th><th>Change in yield from a month ago</th><th>Maturity yield</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td>$289 412</td><td>Commodity Credit Corp. 3/4% R- 5/1/43 T 1-1/8 0- 2/15/45</td><td>100.05</td><td>100.07</td><td>100.06</td><td>-.05</td><td>.55%</td><td>.13%</td><td>.55%</td><td>8/1/40</td><td>101.02</td><td>12/14/40</td><td>100.00</td><td>12/10/41</td><td>100.18</td><td>1/28</td><td>100.05</td><td>1/2</td></tr><tr><td></td><td></td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.07</td><td>1.11</td><td>.07</td><td>1.11</td><td>7/21/41</td><td>101.00</td><td>9/2/41</td><td>99.25</td><td>12/27/41</td><td>100.14</td><td>3/5</td><td>99.28</td><td>1/2</td></tr><tr><td>95</td><td>Federal Farm MTO. Corp. 3-1/4% - 3/15/41-64 3 - 5/15/41-49</td><td>104.05</td><td>104.08</td><td>104.06</td><td>-.12</td><td>.93</td><td>.09</td><td>2.99</td><td>3/15/34</td><td>110.07</td><td>6/8/39</td><td>98.02</td><td>9/18/34</td><td>104.30</td><td>1/28</td><td>104.06</td><td>5/15</td></tr><tr><td>835</td><td>Home Owners' Loan Corp. 2-1/4% 0- 7/1/42-34 6/3</td><td>104.04</td><td>104.06</td><td>104.05</td><td>-.12</td><td>.89</td><td>.09</td><td>2.35</td><td>5/15/34</td><td>109.22</td><td>6/5/39</td><td>95.03</td><td>9/12/34</td><td>104.28</td><td>1/28</td><td>104.04</td><td>5/11</td></tr><tr><td>875</td><td>3 - 5/1/41-52</td><td>100.08</td><td>100.11</td><td>100.10</td><td>-.13</td><td>1/32</td><td>-7/32</td><td>6/</td><td>7/1/35</td><td>105.22</td><td>6/5/39</td><td>98.20</td><td>11/16/35</td><td>101.00</td><td>1/28</td><td>100.10</td><td>5/15</td></tr><tr><td>779</td><td>1-1/2 M- 6/1/45-47</td><td>104.02</td><td>104.04</td><td>104.03</td><td>-.11</td><td>.88</td><td>.08</td><td>2.53</td><td>5/1/34</td><td>109.18</td><td>6/6/39</td><td>95.03</td><td>9/12/34</td><td>104.26</td><td>1/28</td><td>104.03</td><td>5/15</td></tr><tr><td>755</td><td>Reconstruction Finance Corporation</td><td>101.19</td><td>101.21</td><td>101.20</td><td>-.06</td><td>.96</td><td>.05</td><td>1.17</td><td>6/1/39</td><td>103.26</td><td>12/13/40</td><td>96.24</td><td>9/25/39</td><td>102.01</td><td>1/28</td><td>101.12</td><td>1/2</td></tr><tr><td>276</td><td>14 S- 7/1/42</td><td>100.04</td><td>100.05</td><td>100.05</td><td>-.09</td><td>1/32</td><td>-6/32</td><td>1/32</td><td>11/10/39</td><td>101.25</td><td>3/15/40</td><td>100.05</td><td>5/15/42</td><td>100.18</td><td>2/7</td><td>100.05</td><td>5/15</td></tr><tr><td>320</td><td>T 7/8 0-10/15/42</td><td>100.05</td><td>100.07</td><td>100.06</td><td>-.06</td><td>.42</td><td>.30</td><td>.42</td><td>4/17/41</td><td>100.25</td><td>9/4/41</td><td>100.02</td><td>12/10/41</td><td>100.18</td><td>1/28</td><td>100.06</td><td>5/15</td></tr><tr><td>324</td><td>T 1-1/8 V- 7/15/43</td><td>100.10</td><td>100.12</td><td>100.11</td><td>-.07</td><td>.83</td><td>.16</td><td>.83</td><td>4/17/41</td><td>101.05</td><td>9/10/41</td><td>100.06</td><td>12/27/41</td><td>100.27</td><td>1/28</td><td>100.09</td><td>1/2</td></tr><tr><td>571</td><td>T 1 U- 4/15/44</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.06</td><td>.98</td><td>.09</td><td>.98</td><td>7/3/41</td><td>100.26</td><td>8/5/41</td><td>99.25</td><td>12/27/41</td><td>100.15</td><td>2/25</td><td>99.30</td><td>1/2</td></tr><tr><td>114</td><td>U. S. Housing Authority 1-3/8% 8- 2/1/44</td><td>101.02</td><td>101.04</td><td>101.03</td><td>-.05</td><td>.73</td><td>.06</td><td>.73</td><td>2/1/39</td><td>103.02</td><td>12/14/40</td><td>99.07</td><td>9/25/39</td><td>101.11</td><td>2/7</td><td>100.29</td><td>1/3</td></tr></table>
Taxable issues.
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield columns in thirty-secons.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market, except that prices of Federal Farm Mortgage Corporationo and Home Owners' Loan Corporation bonds for the period prior to October 30, 1939 represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning September 30, 1939. Dates of highs and lows, in case of recurrences, are the latest dates.
3/ Certificates are quoted on a yield basis; bills on a discount basis. 4/ Excludes Federal Housing Administration debentures. 5/ Computed on mean price to call date when prices are above par; to maturity date when prices are below par. 6/ Called for redemption on July 1, 1942.
51
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies May 15, 1942 - (Continued)
Table III. - Securities Issued by Federal Agencies but not Guaranteed by the United States
PART A - ISSUES QUOTED ON A PRICE BASIS
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price date (Decimals are thirty-seconds)</th><th colspan="3">Yield date 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Decimals are thirty-seconds)</th><th colspan="4">1942 price range 2/ (Decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Changes in mean from a month ago</th><th>Yield 3/</th><th>Change in yield from a month ago</th><th>Maturity yield</th><th colspan="2">High</th><th colspan="2">Low</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><td rowspan="3">$ 24</td><td>Federal Home Loan Banks</td><td>101.02</td><td>101.06</td><td>101.04</td><td>-.06</td><td>.70%</td><td>+ .08%</td><td>.70%</td><td>4/1/38</td><td>103.10</td><td>12/31/40</td><td>100.04</td><td>9/27/39</td><td>101.14</td><td>3/24</td><td>101.04</td><td>5/15</td></tr><tr><td>Federal Land Banks 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><td></td><td></td><td></td></tr><tr><td>125 114 5/</td><td>4% - 7/1/44-46</td><td>107.00</td><td>107.08</td><td>107.04</td><td>-.24</td><td>.61</td><td>+ .20</td><td>2.18</td><td>7/1/34</td><td>114.04</td><td>6/5/39</td><td>94.12</td><td>9/18/34</td><td>108.04</td><td>3/9</td><td>107.04</td><td>5/15</td></tr><tr><td>157</td><td>3-1/4 - 7/15/44-64</td><td>106.28</td><td>107.08</td><td>107.02</td><td>-.16</td><td>.69</td><td>+ .09</td><td>3.54</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>106.16</td><td>12/10/41</td><td>108.02</td><td>1/26</td><td>107.02</td><td>5/15</td></tr><tr><td>230</td><td>3 - 5/1/45-55</td><td>106.26</td><td>107.02</td><td>106.30</td><td>-.22</td><td>.86</td><td>+ .15</td><td>2.62</td><td>5/1/35</td><td>111.12</td><td>12/10/40</td><td>99.28</td><td>10/2/35</td><td>108.02</td><td>1/10</td><td>106.18</td><td>1/2</td></tr><tr><td>171</td><td>3 - 7/1/45-55</td><td>106.12</td><td>106.20</td><td>106.16</td><td>-.22</td><td>.88</td><td>+ .15</td><td>2.42</td><td>7/1/35</td><td>110.12</td><td>12/10/40</td><td>97.24</td><td>10/2/35</td><td>107.14</td><td>1/24</td><td>106.06</td><td>1/2</td></tr><tr><td>173</td><td>3 - 1/1/46-56</td><td>107.12</td><td>107.20</td><td>107.16</td><td>-.24</td><td>.89</td><td>+ .15</td><td>2.35</td><td>1/1/36</td><td>111.12</td><td>12/10/40</td><td>98.08</td><td>2/13/36</td><td>108.14</td><td>1/22</td><td>107.02</td><td>1/2</td></tr><tr><td></td><td>5/1/46-56</td><td>108.00</td><td>108.08</td><td>108.04</td><td>-.22</td><td>.90</td><td>+ .12</td><td>2.32</td><td>5/1/36</td><td>111.22</td><td>12/10/40</td><td>98.30</td><td>4/8/37</td><td>109.02</td><td>1/10</td><td>107.10</td><td>1/2</td></tr><tr><td></td><td>Federal National MTG.</td><td></td><td></td><td></td><td></td><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>30</td><td>2% A - 5/16/39-43</td><td>100.32</td><td>101.03</td><td>101.01</td><td>+ .04</td><td>.41</td><td>1/</td><td>.95</td><td>5/16/38</td><td>102.04</td><td>6/7/39</td><td>99.16</td><td>9/23/39</td><td>101.04</td><td>4/27</td><td>100.28</td><td>1/19</td></tr><tr><td>55</td><td>1-5/8 B - 1/3/40-44</td><td>100.31</td><td>101.03</td><td>101.01</td><td>-.02</td><td>.76</td><td>-.02</td><td>.98</td><td>1/3/39</td><td>102.04</td><td>1/4/41</td><td>97.28</td><td>9/26/39</td><td>101.06</td><td>3/26</td><td>100.28</td><td>1/6</td></tr></table>
PART B - ISSUES QUOTED ON A YIELD BASIS
<table><tr><th>Amount outstanding (Millions)</th><th>Description (Issue dates in parentheses)</th><th colspan="4">Yield</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from a month ago</th></tr><tr><td colspan="2">Federal Home Loan Banks</td><td></td><td></td><td></td><td></td></tr><tr><td>$ 26</td><td>T 3/4 I - 9/1/42 ( 5/5/42)</td><td>.65%</td><td>.55%</td><td>.60%</td><td>+ .05%</td></tr><tr><td>18</td><td>T 3/4 J - 12/1/42 ( 4/15/42)</td><td>.75</td><td>.65</td><td>.70</td><td>+ .05</td></tr><tr><td>24</td><td>T 7/8 K - 2/1/43 ( 4/15/42)</td><td>.85</td><td>.75</td><td>.80</td><td>+ .05</td></tr><tr><td colspan="2">Federal Intermediate Credit Banks</td><td></td><td></td><td></td><td></td></tr><tr><td>18</td><td>T 5/8 - 6/1/42 ( 9/2/41)</td><td>.60</td><td>-</td><td>.60</td><td>+ .05</td></tr><tr><td>2</td><td>T 7/8 - 6/1/42 ( 12/21/41)</td><td>.60</td><td>-</td><td>.60</td><td>+ .05</td></tr><tr><td>18</td><td>T 7/8 - 6/1/42 ( 1/2/42)</td><td>.60</td><td>-</td><td>.60</td><td>+ .05</td></tr><tr><td>28</td><td>T 5/8 - 7/1/42 ( 10/1/41)</td><td>.65</td><td>-</td><td>.65</td><td>+ .05</td></tr><tr><td>1</td><td>T 1 - 8/1/42 ( 12/30/41)</td><td>.65</td><td>-</td><td>.65</td><td>+ .05</td></tr><tr><td>1</td><td>T 1 - 8/1/42 ( 12/31/41)</td><td>.65</td><td>-</td><td>.65</td><td>+ .05</td></tr><tr><td>25</td><td>T 1 - 8/1/42 ( 1/2/42)</td><td>.65</td><td>-</td><td>.65</td><td>+ .05</td></tr><tr><td>6</td><td>T .50 - 8/1/42 ( 5/1/42)</td><td>.65</td><td>-</td><td>.65</td><td>-</td></tr><tr><td>15</td><td>T 3/4 - 9/1/42 ( 12/1/41)</td><td>.70</td><td>-</td><td>.70</td><td>+ .10</td></tr><tr><td>14</td><td>T .65 - 9/1/42 ( 3/2/42)</td><td>.70</td><td>-</td><td>.70</td><td>+ .10</td></tr><tr><td>25</td><td>T 3/4 - 10/1/42 ( 2/2/42)</td><td>.75</td><td>-</td><td>.75</td><td>+ .10</td></tr><tr><td>12</td><td>T .60 - 10/1/42 ( 4/1/42)</td><td>.75</td><td>-</td><td>.75</td><td>+ .10</td></tr><tr><td>25</td><td>T 5/8 - 11/2/42 ( 11/1/41)</td><td>.75</td><td>-</td><td>.75</td><td>+ .05</td></tr><tr><td>17</td><td>T .65 - 11/2/42 ( 5/1/42)</td><td>.75</td><td>-</td><td>.75</td><td>-</td></tr><tr><td>22</td><td>T .85 - 12/1/42 ( 2/2/42)</td><td>.80</td><td>-</td><td>.80</td><td>+ .10</td></tr><tr><td>8</td><td>T .85 - 12/1/42 ( 3/2/42)</td><td>.80</td><td>-</td><td>.80</td><td>+ .10</td></tr><tr><td>18</td><td>T .70 - 1/2/43 ( 4/1/42)</td><td>.85</td><td>-</td><td>.85</td><td>+ .10</td></tr><tr><td>26</td><td>T .75 - 2/1/43 ( 5/1/42)</td><td>.90</td><td>-</td><td>.90</td><td>-</td></tr><tr><td>16</td><td>T .90 - 3/1/43 ( 3/2/42)</td><td>.90</td><td>-</td><td>.90</td><td>+ .10</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield column in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "When issued" prices are included beginning November 1, 1941. Dates of highs and lows, in case of recurrence, are the latest dates.
3/ Computed on mean price to call date when prices are above par; to maturity date when prices are below par.
4/ Exclude issues completely held by Farm Credit Administration agencies.
5/ Revised to include amounts held by Farm Credit Administration agencies.
6/ Series A is callable on 30 days' notice at 100-1/4 on November 16, 1942. Series B is callable on 30 days' notice at 101 on July 3, 1942; at 100-1/2 on January or July 3, 1943. "Yield" is computed to maturity or that call date which gives the lowest yield.
7/ Change not indicated because yield was computed to different call dates on April 15 and May 15. The option to call on May 16, 1942 was not exercised.
52
YIELDS OF TREASURY BONDS AND NOTES, MAY 15, 1942
Based on Mean of Closing Bid and Asked Quotations
Explanation: The points represent yields to call date when prices are above par, and to maturity date when prices are at par or below. The smooth curves are fitted by eye. The dollar amounts in descriptions of issues are millions. Issues for which an exchange offer has been made are excluded.
53
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent)
<table><tr><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th></tr></table>
Monthly Series 4/
<table><tr><td>1934-Jan.</td><td>3.50</td><td>-</td><td>4.26</td><td>1937-Jan.</td><td>2.47</td><td>-</td><td>3.09</td><td>1940-Jan.</td><td>2.30</td><td>-</td><td>2.81</td></tr><tr><td>Feb.</td><td>3.32</td><td>-</td><td>4.14</td><td>Feb.</td><td>2.46</td><td>-</td><td>3.24</td><td>Feb.</td><td>2.32</td><td>-</td><td>2.79</td></tr><tr><td>Mar.</td><td>3.20</td><td>-</td><td>4.07</td><td>Mar.</td><td>2.60</td><td>-</td><td>3.36</td><td>Mar.</td><td>2.25</td><td>-</td><td>2.77</td></tr><tr><td>Apr.</td><td>3.11</td><td>-</td><td>4.00</td><td>Apr.</td><td>2.80</td><td>-</td><td>3.43</td><td>Apr.</td><td>2.25</td><td>-</td><td>2.74</td></tr><tr><td>May.</td><td>3.02</td><td>-</td><td>3.94</td><td>May.</td><td>2.76</td><td>-</td><td>3.36</td><td>May.</td><td>2.38</td><td>-</td><td>2.87</td></tr><tr><td>June.</td><td>2.98</td><td>-</td><td>3.88</td><td>June.</td><td>2.76</td><td>-</td><td>3.31</td><td>June.</td><td>2.39</td><td>-</td><td>2.93</td></tr><tr><td>July.</td><td>2.92</td><td>-</td><td>3.83</td><td>July.</td><td>2.72</td><td>-</td><td>3.27</td><td>July.</td><td>2.28</td><td>-</td><td>2.85</td></tr><tr><td>Aug.</td><td>3.03</td><td>-</td><td>3.87</td><td>Aug.</td><td>2.72</td><td>-</td><td>3.25</td><td>Aug.</td><td>2.25</td><td>-</td><td>2.80</td></tr><tr><td>Sept.</td><td>3.20</td><td>-</td><td>3.89</td><td>Sept.</td><td>2.77</td><td>-</td><td>3.26</td><td>Sept.</td><td>2.18</td><td>-</td><td>2.71</td></tr><tr><td>Oct.</td><td>3.10</td><td>-</td><td>3.84</td><td>Oct.</td><td>2.76</td><td>-</td><td>3.26</td><td>Oct.</td><td>2.10</td><td>-</td><td>2.70</td></tr><tr><td>Nov.</td><td>3.07</td><td>-</td><td>3.78</td><td>Nov.</td><td>2.71</td><td>-</td><td>3.22</td><td>Nov.</td><td>1.97</td><td>-</td><td>2.65</td></tr><tr><td>Dec.</td><td>3.01</td><td>-</td><td>3.68</td><td>Dec.</td><td>2.67</td><td>-</td><td>3.17</td><td>Dec.</td><td>1.89</td><td>-</td><td>2.59</td></tr><tr><td>1935-Jan.</td><td>2.88</td><td>-</td><td>3.60</td><td>1938-Jan.</td><td>2.65</td><td>-</td><td>3.17</td><td>1941-Jan.</td><td>1.99</td><td>-</td><td>2.57</td></tr><tr><td>Feb.</td><td>2.79</td><td>-</td><td>3.52</td><td>Feb.</td><td>2.64</td><td>-</td><td>3.15</td><td>Feb.</td><td>2.10</td><td>-</td><td>2.71</td></tr><tr><td>Mar.</td><td>2.77</td><td>-</td><td>3.49</td><td>Mar.</td><td>2.64</td><td>-</td><td>3.16</td><td>Mar.</td><td>2.01</td><td>-</td><td>2.73</td></tr><tr><td>Apr.</td><td>2.74</td><td>-</td><td>3.47</td><td>Apr.</td><td>2.62</td><td>-</td><td>3.25</td><td>Apr.</td><td>1.96</td><td>-</td><td>2.76</td></tr><tr><td>May.</td><td>2.72</td><td>-</td><td>3.48</td><td>May.</td><td>2.51</td><td>-</td><td>3.14</td><td>May.</td><td>1.92</td><td>-</td><td>2.75</td></tr><tr><td>June.</td><td>2.72</td><td>-</td><td>3.43</td><td>June.</td><td>2.52</td><td>-</td><td>3.15</td><td>June.</td><td>1.91</td><td>-</td><td>2.70</td></tr><tr><td>July.</td><td>2.69</td><td>-</td><td>3.35</td><td>July.</td><td>2.52</td><td>-</td><td>3.12</td><td>July.</td><td>1.90</td><td>-</td><td>2.66</td></tr><tr><td>Aug.</td><td>2.76</td><td>-</td><td>3.44</td><td>Aug.</td><td>2.51</td><td>-</td><td>3.10</td><td>Aug.</td><td>1.94</td><td>-</td><td>2.65</td></tr><tr><td>Sept.</td><td>2.85</td><td>-</td><td>3.47</td><td>Sept.</td><td>2.58</td><td>-</td><td>3.12</td><td>Sept.</td><td>1.94</td><td>-</td><td>2.64</td></tr><tr><td>Oct.</td><td>2.85</td><td>-</td><td>3.46</td><td>Oct.</td><td>2.48</td><td>-</td><td>3.06</td><td>Oct.</td><td>1.88</td><td>2.23</td><td>2.61</td></tr><tr><td>Nov.</td><td>2.83</td><td>-</td><td>3.41</td><td>Nov.</td><td>2.50</td><td>-</td><td>3.04</td><td>Nov.</td><td>1.85</td><td>2.22</td><td>2.57</td></tr><tr><td>Dec.</td><td>2.83</td><td>-</td><td>3.39</td><td>Dec.</td><td>2.49</td><td>-</td><td>3.02</td><td>Dec.</td><td>1.96</td><td>2.37</td><td>2.68</td></tr><tr><td>1936-Jan.</td><td>2.80</td><td>-</td><td>3.32</td><td>1939-Jan.</td><td>2.47</td><td>-</td><td>2.96</td><td>1942-Jan.</td><td>2.01</td><td>2.37</td><td>2.76</td></tr><tr><td>Feb.</td><td>2.77</td><td>-</td><td>3.26</td><td>Feb.</td><td>2.44</td><td>-</td><td>2.90</td><td>Feb.</td><td>2.09</td><td>2.39</td><td>2.80</td></tr><tr><td>Mar.</td><td>2.71</td><td>-</td><td>3.24</td><td>Mar.</td><td>2.34</td><td>-</td><td>2.87</td><td>Mar.</td><td>2.00</td><td>2.35</td><td>2.80</td></tr><tr><td>Apr.</td><td>2.68</td><td>-</td><td>3.24</td><td>Apr.</td><td>2.30</td><td>-</td><td>2.92</td><td>Apr.</td><td>1.98</td><td>2.34</td><td>2.77</td></tr><tr><td>May.</td><td>2.66</td><td>-</td><td>3.22</td><td>May.</td><td>2.17</td><td>-</td><td>2.86</td><td></td><td></td><td></td><td></td></tr><tr><td>June.</td><td>2.66</td><td>-</td><td>3.19</td><td>June.</td><td>2.13</td><td>-</td><td>2.78</td><td></td><td></td><td></td><td></td></tr><tr><td>July.</td><td>2.65</td><td>-</td><td>3.18</td><td>July.</td><td>2.16</td><td>-</td><td>2.76</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>2.61</td><td>-</td><td>3.18</td><td>Aug.</td><td>2.21</td><td>-</td><td>2.79</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2.60</td><td>-</td><td>3.15</td><td>Sept.</td><td>2.65</td><td>-</td><td>3.29</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>2.62</td><td>-</td><td>3.14</td><td>Oct.</td><td>2.60</td><td>-</td><td>3.14</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>2.53</td><td>-</td><td>3.11</td><td>Nov.</td><td>2.46</td><td>-</td><td>2.93</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.51</td><td>-</td><td>3.07</td><td>Dec.</td><td>2.35</td><td>-</td><td>2.86</td><td></td><td></td><td></td><td></td></tr></table>
Weekly Series - Saturday Figures 5/
<table><tr><td>1941-Nov.</td><td>1......</td><td>1.82</td><td>2.20</td><td>2.58</td><td>1942-Jan.</td><td>3......</td><td>2.00</td><td>2.39</td><td>2.70</td><td>1942-Mar.</td><td>7......</td><td>2.02</td><td>2.36</td><td>2.79</td></tr><tr><td></td><td>8......</td><td>1.83</td><td>2.20</td><td>2.57</td><td></td><td>10......</td><td>1.97</td><td>2.38</td><td>2.73</td><td></td><td>14......</td><td>2.02</td><td>2.38</td><td>2.80</td></tr><tr><td></td><td>15......</td><td>1.85</td><td>2.22</td><td>2.56</td><td></td><td>17......</td><td>2.01</td><td>2.38</td><td>2.76</td><td></td><td>21......</td><td>1.98</td><td>2.34</td><td>2.80</td></tr><tr><td></td><td>22......</td><td>1.85</td><td>2.22</td><td>2.57</td><td></td><td>24......</td><td>2.03</td><td>2.36</td><td>2.79</td><td></td><td>28......</td><td>1.96</td><td>2.33</td><td>2.79</td></tr><tr><td></td><td>29......</td><td>1.86</td><td>2.24</td><td>2.58</td><td></td><td>31......</td><td>2.05</td><td>2.37</td><td>2.80</td><td>Apr.</td><td>4......</td><td>1.96</td><td>2.32</td><td>2.77</td></tr><tr><td>Dec.</td><td>6......</td><td>1.87</td><td>2.30</td><td>2.60</td><td>Feb.</td><td>7......</td><td>2.06</td><td>2.38</td><td>2.79</td><td></td><td>11......</td><td>1.97</td><td>2.32</td><td>2.77</td></tr><tr><td></td><td>13......</td><td>1.97</td><td>2.40</td><td>2.69</td><td></td><td>14......</td><td>2.10</td><td>2.40</td><td>2.78</td><td></td><td>18......</td><td>1.97</td><td>2.34</td><td>2.77</td></tr><tr><td></td><td>20......</td><td>1.97</td><td>2.38</td><td>2.73</td><td></td><td>21......</td><td>2.10</td><td>2.38</td><td>2.81</td><td>May</td><td>2......</td><td>1.98</td><td>2.38</td><td>2.77</td></tr><tr><td></td><td>27......</td><td>2.05</td><td>2.42</td><td>2.75</td><td></td><td>28......</td><td>2.10</td><td>2.39</td><td>2.81</td><td></td><td>9......</td><td>1.99</td><td>2.37</td><td>2.74</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>16......</td><td>1.98</td><td>2.35</td><td>2.76</td></tr></table>
Daily Series
<table><tr><td>1942-Apr.</td><td>1......</td><td>1.97</td><td>2.33</td><td>2.77</td><td>1942-Apr. 16......</td><td>1.96</td><td>2.33</td><td>2.76</td><td>1942-May 1......</td><td>1.98</td><td>2.38</td><td>2.78</td></tr><tr><td></td><td>2......</td><td>1.97</td><td>2.32</td><td>2.77</td><td>17......</td><td>1.97</td><td>2.34</td><td>2.76</td><td>2......</td><td>1.98</td><td>2.38</td><td>2.77</td></tr><tr><td></td><td>3......</td><td>6/1.96</td><td>6/2.32</td><td>6/2.77</td><td>18......</td><td>1.97</td><td>2.34</td><td>2.77</td><td>4......</td><td>1.98</td><td>2.38</td><td>2.77</td></tr><tr><td></td><td>4......</td><td>1.96</td><td>2.32</td><td>2.77</td><td>20......</td><td>1.97</td><td>2.34</td><td>2.76</td><td>5......</td><td>1.97</td><td>2.37</td><td>2.78</td></tr><tr><td></td><td>6......</td><td>1.96</td><td>2.32</td><td>2.76</td><td>21......</td><td>1.98</td><td>2.34</td><td>2.75</td><td>6......</td><td>1.98</td><td>2.36</td><td>2.77</td></tr><tr><td></td><td>7......</td><td>1.97</td><td>2.32</td><td>2.76</td><td>22......</td><td>1.97</td><td>2.34</td><td>2.76</td><td>7......</td><td>1.98</td><td>2.37</td><td>2.75</td></tr><tr><td></td><td>8......</td><td>1.97</td><td>2.32</td><td>2.77</td><td>23......</td><td>1.98</td><td>2.36</td><td>2.77</td><td>8......</td><td>1.99</td><td>2.36</td><td>2.74</td></tr><tr><td></td><td>9......</td><td>1.97</td><td>2.32</td><td>2.77</td><td>24......</td><td>1.99</td><td>2.36</td><td>2.77</td><td>9......</td><td>1.99</td><td>2.37</td><td>2.74</td></tr><tr><td></td><td>10......</td><td>1.97</td><td>2.32</td><td>2.77</td><td>25......</td><td>1.99</td><td>2.36</td><td>2.77</td><td>11......</td><td>1.99</td><td>2.37</td><td>2.74</td></tr><tr><td></td><td>11......</td><td>1.97</td><td>2.32</td><td>2.77</td><td>27......</td><td>1.99</td><td>2.36</td><td>2.76</td><td>12......</td><td>1.99</td><td>2.37</td><td>2.76</td></tr><tr><td></td><td>13......</td><td>1.96</td><td>2.32</td><td>2.76</td><td>28......</td><td>2.01</td><td>2.38</td><td>2.77</td><td>13......</td><td>1.98</td><td>2.36</td><td>2.77</td></tr><tr><td></td><td>14......</td><td>1.96</td><td>2.32</td><td>2.76</td><td>29......</td><td>2.01</td><td>2.38</td><td>2.77</td><td>14......</td><td>1.99</td><td>2.36</td><td>2.77</td></tr><tr><td></td><td>15......</td><td>1.96</td><td>2.32</td><td>2.76</td><td>30......</td><td>2.00</td><td>2.38</td><td>2.78</td><td>15......</td><td>1.98</td><td>2.35</td><td>2.76</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>16......</td><td>1.98</td><td>2.35</td><td>2.76</td></tr></table>
Basis of Computation: (1) Treasury bond yields are computed on the basis of the mean of bid and ask quotations in the over-the-counter market, beginning September 2, 1941; previously, closing prices on the New York Stock Exchange were used on days when sales took place on the Exchange in a particular issue and the mean of closing bid and ask quotations on the New York Stock Exchange on days when no sales took place. (2) Corporate bond yields are computed on the basis of closing prices on the New York Stock Exchange and the New York Curb Exchange; on days when an issue does not sell, the price of the last preceding sale is used. Back Figures: See "Treasury Bulletin" for July 1941, pages 21-26, and subsequent issues.
1/ Average of partially tax-exempt Treasury bonds neither due nor callable for twelve years. Partially tax-exempt bonds are those the interest on which is exempt from the normal rates of the Federal income tax. (In addition, interest derived from $5,000 aggregate principal amount of partially tax-exempt Treasury bonds and United States savings bonds is exempt from the surtax rates of the Federal income tax.)
2/ Average of taxable Treasury bonds neither due nor callable for twelve years. Taxable bonds are those the interest on which is subject to both the normal and surtax rates of the Federal income tax. This average commenced October 20, 1941.
3/ Average of 9 bonds, January 6, 1933 through December 6, 1935; average of 15 bonds, December 7, 1935 through July 31, 1937; average of 20 bonds, August 1, 1937 through September 13, 1938; average of 5 bonds, September 14, 1938 to date.
4/ Monthly averages of daily figures except for corporate bonds January 1933 through March 1938, when averages of Saturdays are used.
5/ On days when the exchanges are closed, the date and prices of the previous day are used.
6/ Holiday.
Average Yields of Long-Term Treasury and Corporate Bonds
Monthly Series
Monthly average of daily yields; latest month is preliminary and represents yields on the 15th.
54
GOVERNMENTAL CORPORATIONS AND CREDIT AGENCIES OF THE UNITED STATES
-55-
56
Assets and Liabilities of Governmental Corporations and Credit Agencies March 31, 1942
(In millions of dollars)
<table><tr><th></th><th>Total</th><th>Loans</th><th>Preferred capital stock, etc.</th><th>Cash 1/</th><th>U. S. Government securities</th><th>Securities guaranteed by United States</th><th>Other</th><th>Accounts and other receivables 2/</th><th>Real estate and other business property</th><th>Due from Government corporations and agencies</th><th>Capital stock in Government corporations and agencies 3/</th><th>Other assets</th></tr><tr><td>Assets</td><td colspan="12">Investments</td><td colspan="2">Interagency assets</td></tr><tr><td>Banker for cooperatives</td><td>200.5</td><td>106.5</td><td>-</td><td>21.0</td><td>33.2</td><td>.7</td><td>37.3</td><td>1.6</td><td>.1</td><td>-</td><td>-</td><td>612.4</td></tr><tr><td>Commodity Credit Corporation</td><td>1,184.0</td><td>217.8</td><td>-</td><td>1.9</td><td>-</td><td>-</td><td>-</td><td>80.3</td><td>9.0</td><td>262.5</td><td>-</td><td>.1</td></tr><tr><td>Disaster Loan Corporation</td><td>22.6</td><td>14.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>14.3</td><td>13.9</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Export-import Bank of Washington</td><td>190.7</td><td>136.9</td><td>-</td><td>5.2</td><td>-</td><td>-</td><td>-</td><td>48.5</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>271.4</td><td>258.0</td><td>-</td><td>9.7</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>3.6</td></tr><tr><td>Farm Security Administration</td><td>509.7</td><td>435.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>31.9</td><td>.5</td><td>41.1</td><td>-</td><td>.7</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>36.5</td><td>-</td><td>-</td><td>8.5</td><td>-</td><td>-</td><td>-</td><td>18.3</td><td>-</td><td>-</td><td>-</td><td>9.7</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>613.6</td><td>46.9</td><td>-</td><td>12.9</td><td>490.1</td><td>-</td><td>-</td><td>34.8</td><td>.1</td><td>-</td><td>-</td><td>28.7</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,410.0</td><td>579.9</td><td>-</td><td>22.1</td><td>1.8</td><td>745.2</td><td>49.7</td><td>-</td><td>-</td><td>3.0</td><td>-</td><td>8.3</td></tr><tr><td>Federal home loan banks</td><td>315.0</td><td>191.5</td><td>-</td><td>60.0</td><td>54.5</td><td>8.4</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Federal Housing Administration</td><td>103.7</td><td>-</td><td>-</td><td>17.0</td><td>40.7</td><td>-</td><td>-</td><td>35.0</td><td>1.3</td><td>-</td><td>-</td><td>9.6</td></tr><tr><td>Federal intermediate credit banks</td><td>367.1</td><td>266.7</td><td>-</td><td>28.3</td><td>44.0</td><td>-</td><td>13.7</td><td>166.3</td><td>5.7</td><td>26.1</td><td>-</td><td>.1</td></tr><tr><td>Federal land banks 5/</td><td>2,218.1</td><td>1,731.1</td><td>-</td><td>54.6</td><td>181.4</td><td>.8</td><td>-</td><td>4.5</td><td>-</td><td>8.4</td><td>-</td><td>56.8</td></tr><tr><td>Federal National Mortgage Association</td><td>219.7</td><td>213.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.9</td></tr><tr><td>Federal Prieon Industries, Incorporated</td><td>12.5</td><td>-</td><td>-</td><td>1.9</td><td>-</td><td>-</td><td>-</td><td>2.6</td><td>6.4</td><td>-</td><td>-</td><td>1.7</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>134.1</td><td>-</td><td>-</td><td>2.6</td><td>23.2</td><td>99.6</td><td>-</td><td>8.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,590.6</td><td>1,724.2</td><td>167.0</td><td>310.9</td><td>-</td><td>-</td><td>-</td><td>5.1</td><td>2.7</td><td>-</td><td>100.0</td><td>280.5</td></tr><tr><td>Inland Waterways Corporation 6/</td><td>25.0</td><td>.4</td><td>-</td><td>.6</td><td>3.7</td><td>-</td><td>-</td><td>.4</td><td>19.8</td><td>-</td><td>-</td><td>.2</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.7</td><td>2.7</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 corporations 7/</td><td>1,345.1</td><td>55.8</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>51.6</td><td>-</td><td>-</td><td>-</td><td>1,237.5</td></tr><tr><td>Panama Railroad Company 6/</td><td>58.7</td><td>-</td><td>-</td><td>8.5</td><td>2.8</td><td>-</td><td>.3</td><td>.6</td><td>42.1</td><td>4.2</td><td>-</td><td>.2</td></tr><tr><td>Production credit corporations</td><td>126.6</td><td>-</td><td>-</td><td>.6</td><td>12.3</td><td>-</td><td>113.3</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Public Works Administration</td><td>88.7</td><td>88.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>21.7</td><td>4.3</td><td>1.2</td><td>1.9</td><td>-</td><td>-</td><td>-</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>12.0</td></tr><tr><td>Reconstruction Finance Corporation</td><td>4,020.5</td><td>1,470.3</td><td>388.2</td><td>2.7 8/</td><td>55.1</td><td>-</td><td>8.3</td><td>29.9 8/</td><td>.4</td><td>1,658.3</td><td>354.7</td><td>52.4</td></tr><tr><td>Regional agricultural credit corporations</td><td>22.7</td><td>3.8</td><td>-</td><td>18.6</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>85.9</td><td>75.2</td><td>-</td><td>-</td><td>-</td><td>.4</td><td>-</td><td>1.8</td><td>6.8</td><td>-</td><td>-</td><td>1.7</td></tr><tr><td>Rural Electrification Administration</td><td>343.8</td><td>334.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7.0</td><td>-</td><td>2.7</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>503.6</td><td>-</td><td>-</td><td>13.3</td><td>-</td><td>-</td><td>-</td><td>6.6</td><td>482.2</td><td>1.3</td><td>-</td><td>.1</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>535.8</td><td>379.5</td><td>-</td><td>17.4</td><td>7.2</td><td>-</td><td>-</td><td>4.4</td><td>127.3</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>1,301.9</td><td>28.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35.1</td><td>22.8</td><td>87.2</td><td>19.3</td><td>-</td><td>1,109.5</td></tr><tr><td>War emergency corporations and agencies (in liquidation):</td><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>Navy Department (sale of surplus war supplies)</td><td>3.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Secretary of the Treasury (U. S. Railroad Administration)</td><td>.1</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>United States Housing Corporation</td><td>1.9</td><td>-</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>1.3</td><td>.1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Spruce Production Corporation</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Governmental agencies 9/</td><td>2,302.9</td><td>27.2</td><td>19.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,228.7</td><td>-</td><td>27.6</td></tr><tr><td>Gross total</td><td>21,205.6</td><td>8,407.0</td><td>575.9</td><td>621.1</td><td>950.0</td><td>109.9</td><td>953.1</td><td>631.5</td><td>791.7</td><td>4,255.7</td><td>454.7</td><td>3,455.0</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-4,710.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-4,255.7</td><td>-454.7</td><td>-</td></tr><tr><td>Net total</td><td>16,495.1</td><td>8,407.0</td><td>575.9</td><td>621.1</td><td>950.0</td><td>109.9</td><td>953.1</td><td>631.5</td><td>791.7</td><td>0</td><td>0</td><td>3,455.0</td></tr></table>
(Continued on next page)
57
Assets and Liabilities of Governmental Corporations and Credit Agencies
March 31, 1942 - (Continued)
(in millions of dollars)
<table><tr><th></th><th colspan="6">Liabilities and reserves</th><th rowspan="2">Excess of assets (Total proprietary interest)</th><th colspan="5">Proprietary interest</th></tr><tr><th></th><th>Total</th><th>Guaranteed by United States (includes accrued interest)</th><th>Not guaranteed by United States</th><th colspan="2">Due to Governmental corporations and agencies</th><th>Reserves</th><th>Prior- vately owned</th><th colspan="3">Owned by United States 10/</th><th>Non-stock</th></tr><tr><th></th><th></th><th></th><th></th><th>Treasury</th><th>Other</th><th></th><th></th><th>Total</th><th>Capital stock</th><th>Surplus</th><th></th></tr><tr><td>Banks for cooperatives</td><td>28.5</td><td>-</td><td>.6</td><td>-</td><td>26.1</td><td>1.8</td><td>172.0</td><td>5.6</td><td>166.5</td><td>144.0</td><td>22.5</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,074.2</td><td>702.6</td><td>166.6</td><td>75.2</td><td>-</td><td>129.9</td><td>109.7</td><td>-</td><td>109.7</td><td>100.0</td><td>9.7</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>22.4</td><td>-</td><td>22.4</td><td>24.0</td><td>-1.6</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>12.9</td><td>-</td><td>12.7</td><td>-</td><td>-</td><td>.2</td><td>1.4</td><td>-</td><td>1.4</td><td>.9</td><td>.6</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>.4</td><td>-</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>190.3</td><td>-</td><td>190.3</td><td>175.0</td><td>15.3</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>220.3</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>220.0</td><td>51.1</td><td>-</td><td>51.1</td><td>-</td><td>-</td><td>51.1</td></tr><tr><td>Farm Security Administration</td><td>210.6</td><td>-</td><td>30.4</td><td>-</td><td>180.3</td><td>-</td><td>299.1</td><td>-</td><td>299.1</td><td>-</td><td>-</td><td>299.1</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>16.5</td><td>-</td><td>7.4</td><td>-</td><td>-</td><td>9.0</td><td>20.0</td><td>-</td><td>20.0</td><td>20.0</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>324.3</td><td>-</td><td>15.1</td><td>-</td><td>-</td><td>309.1</td><td>289.3</td><td>139.3</td><td>150.0</td><td>150.0</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,310.0</td><td>957.5</td><td>4.5</td><td>288.6</td><td>2.1</td><td>56.7</td><td>100.0</td><td>-</td><td>100.0</td><td>100.0</td><td>-</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>126.4</td><td>-</td><td>126.4</td><td>-</td><td>-</td><td>-</td><td>188.6</td><td>63.9</td><td>124.7</td><td>124.7</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>25.9</td><td>21.0</td><td>4.8</td><td>-</td><td>-</td><td>.1</td><td>77.8</td><td>-</td><td>77.8</td><td>-</td><td>-</td><td>77.8</td></tr><tr><td>Federal intermediate credit banks</td><td>280.4</td><td>-</td><td>279.7</td><td>-</td><td>-</td><td>.7</td><td>86.8</td><td>-</td><td>86.8</td><td>60.0</td><td>26.8</td><td>-</td></tr><tr><td>Federal land banks 5/</td><td>1,778.6</td><td>-</td><td>1,732.2</td><td>-</td><td>.7</td><td>45.7</td><td>439.5</td><td>226.7</td><td>212.7</td><td>67.4</td><td>145.4</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>198.0</td><td>-</td><td>89.9</td><td>-</td><td>108.2</td><td>-</td><td>21.7</td><td>-</td><td>21.7</td><td>10.0</td><td>11.7</td><td>-</td></tr><tr><td>Federal Prison Industries, Incorporated</td><td>.6</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>11.9</td><td>-</td><td>11.9</td><td>-</td><td>7.8</td><td>4.1</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1.8</td><td>-</td><td>1.8</td><td>-</td><td>-</td><td>-</td><td>132.3</td><td>-</td><td>132.3</td><td>100.0</td><td>32.3</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,497.0</td><td>2,434.6</td><td>25.0</td><td>-</td><td>-</td><td>37.4</td><td>93.6</td><td>-</td><td>93.6</td><td>200.0</td><td>-106.4</td><td>-</td></tr><tr><td>Inland Waterways Corporation 6/</td><td>1.4</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>.3</td><td>23.6</td><td>-</td><td>23.6</td><td>12.0</td><td>11.6</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>2.7</td></tr><tr><td>Reconstruction Finance Corporation</td><td>1,295.5</td><td>-</td><td>203.3</td><td>-</td><td>1,092.2</td><td>-</td><td>49.6</td><td>-</td><td>49.6</td><td>30.0</td><td>19.6</td><td>-</td></tr><tr><td>Panama Railroad Company 6/</td><td>3.5</td><td>-</td><td>3.0</td><td>-</td><td>.5</td><td>-</td><td>55.2</td><td>-</td><td>55.2</td><td>7.0</td><td>48.2</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.4</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>.3</td><td>126.2</td><td>-</td><td>126.2</td><td>120.0</td><td>6.2</td><td>-</td></tr><tr><td>Public Works Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>85.7</td><td>-</td><td>85.7</td><td>-</td><td>-</td><td>85.7</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>21.6</td><td>-</td><td>21.6</td><td>-</td><td>-</td><td>21.6</td></tr><tr><td>Reconstruction Finance Corporation</td><td>3,443.5</td><td>1,497.3</td><td>244.7 8/</td><td>1,532.7</td><td>43.8</td><td>125.0</td><td>577.0</td><td>-</td><td>577.0</td><td>325.0</td><td>252.0 8/</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>.7</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>.5</td><td>22.0</td><td>-</td><td>22.0</td><td>5.0</td><td>17.0</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>60.5</td><td>-</td><td>2.4</td><td>-</td><td>58.1</td><td>-</td><td>25.4</td><td>-</td><td>25.4</td><td>25.0</td><td>.4</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>219.5</td><td>-</td><td>-</td><td>-</td><td>219.5</td><td>-</td><td>124.3</td><td>-</td><td>124.3</td><td>-</td><td>-</td><td>124.3</td></tr><tr><td>Tennessee Valley Authority</td><td>80.3</td><td>-</td><td>19.7</td><td>56.8</td><td>.1</td><td>3.7</td><td>423.2</td><td>-</td><td>423.2</td><td>-</td><td>-</td><td>423.2</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>-</td><td>114.4</td><td>.5</td><td>274.7</td><td>-</td><td>5.9</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>395.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>42.1</td><td>140.3</td><td>-</td><td>140.3</td><td>1.0</td><td>139.3</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>717.7</td><td>-</td><td>675.6</td><td>-</td><td>-</td><td>-</td><td>584.2</td><td>-</td><td>584.2</td><td>-</td><td>-</td><td>584.2</td></tr><tr><td>Var emergency corporations and agencies (in liquidation):</td><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>Navy Department (sale of surplus war supplies)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.4</td><td>-</td><td>3.4</td><td>-</td><td>-</td><td>3.4</td></tr><tr><td>Secretary of the Treasury (U. S. Railroad Administration)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>United States Housing Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.9</td><td>-</td><td>1.9</td><td>34.1</td><td>-32.2</td><td>-</td></tr><tr><td>United States Spruce Production Corporation</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>.1</td><td>.2</td><td>-</td></tr><tr><td>Other Governmental agencies 9/</td><td>295.9</td><td>-</td><td>-</td><td>-</td><td>295.9</td><td>-</td><td>2,007.0</td><td>-</td><td>2,007.0</td><td>19.4</td><td>-</td><td>1,987.5</td></tr><tr><td>Excess total</td><td>14,621.2</td><td>5,727.7</td><td>3,649.3</td><td>2,228.0</td><td>2,027.7</td><td>988.5</td><td>6,584.4</td><td>535.5</td><td>6,148.9</td><td>1,854.6</td><td>626.5</td><td>3,667.8</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-4,255.7</td><td>-</td><td>-2,228.0</td><td>-2,027.7</td><td>-</td><td>-454.7</td><td>-</td><td>-454.7</td><td>-453.7</td><td>-1.0</td><td>-</td><td>-</td></tr><tr><td>Net total</td><td>10,365.5</td><td>5,727.7</td><td>3,649.3</td><td>0</td><td>0</td><td>988.5</td><td>6,129.7</td><td>435.5</td><td>5,694.2</td><td>1,400.8</td><td>625.5</td><td>3,667.8</td></tr></table>
Source: Daily Treasury Statements. 
1/ Less than $50,000.
2/ Includes unexpended balances of appropriated funds.
3/ Includes deposits with the Reconstruction Finance Corporation and interest thereon.
4/ Includes paid-in surplus.
5/ Represents chiefly commodity loans and underlying security taken over from lending agencies pursuant to guaranty purchase agreements. Also includes commodities acquired through direct purchases from producers and others.
5/ Includes the assets and liabilities of the Federal Land Banks of Louisville and Houston which have retired stock and paid-in surplus previously held by the Federal Government.
6/ Figures shown are as of February 28, 1942; figures for March 31, 1942 are not available.
7/ Comprises Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Metale Reserve Company, and Rubber Reserve Company.
8/ Adjusted for interagency items and items in transit.
9/ Comprises Treasury Department and other Governmental agencies not listed in this statement.
10/ Excludes the interest of the United States represented by obligations held by the Treasury.
58
Sources of Funds of Certain Governmental Corporations and Credit Agencies for the First 9 Months, Fiscal Year 1942
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscounts, and loans from other governmental corporations and credit 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>Central Bank for Cooperatives</td><td>$30,000,000</td><td>$ 7,164,013</td><td>-</td><td>-</td><td>$ 221,200</td></tr><tr><td>Commodity Credit Corporation</td><td>1,637,446 2/</td><td>24,187,179</td><td>$ -65,000,000</td><td>$ 4,802,000</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>-</td><td>-3,290,000</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>21,800,000</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>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>288,000,000</td><td>-385,523,700</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>29,282,225</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>16,761,886</td><td>-</td><td>-</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>Home Owners' Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>National defense corporations 3/</td><td>-</td><td>843,301,769</td><td>-</td><td>-</td><td>3,000,000</td></tr><tr><td>Reconstruction Finance Corporation</td><td>-</td><td>100,000</td><td>1,509,765,750</td><td>-249,505,000</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>9,505,942</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>8,202,055</td><td>43,998,521</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>8,319,026</td><td>-</td><td>189,000,000</td><td>-112,099,000</td><td>-</td></tr><tr><td>Total</td><td>$48,158,527</td><td>$966,819,310</td><td>$1,921,765,750</td><td>$-716,333,475</td><td>$3,221,200</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans h/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 52,914,759</td><td>$ 596,418</td><td>$ 358,003</td><td>$ 91,254,394</td></tr><tr><td>Commodity Credit Corporation</td><td>$658,767,941</td><td>191,826,590</td><td>8,809,907</td><td>2,089,389</td><td>827,120,451</td></tr><tr><td>Disaster Loan Corporation</td><td>23,205</td><td>5,623,751</td><td>356,045</td><td>90,531</td><td>6,093,533</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>8,546,325</td><td>1,016,181</td><td>30,987</td><td>6,303,494</td></tr><tr><td>Export-import Bank of Washington</td><td>-</td><td>31,109,340</td><td>4,911,442</td><td>-</td><td>57,820,781</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>20,290,611</td><td>61,299,144</td><td>1,977,847</td><td>83,567,602</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>5,880,751</td><td>71,347,833</td><td>48,231,824</td><td>2,445,325</td><td>30,382,033</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>99,978,603</td><td>4,555,467</td><td>-</td><td>133,816,295</td></tr><tr><td>Federal National Mortgage Association</td><td>821,504</td><td>12,305,110</td><td>7,288,272</td><td>13,045</td><td>37,189,877</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>4,539,578</td><td>96,990</td><td>4,636,568</td></tr><tr><td>Home Owners' Loan Corporation</td><td>35,348,730</td><td>146,911,223</td><td>81,069,676</td><td>4,501,952</td><td>267,831,580</td></tr><tr><td>National defense corporations 3/</td><td>215,794,094</td><td>289,500</td><td>1,104,329</td><td>101,834,193</td><td>1,165,323,885</td></tr><tr><td>Reconstruction Finance Corporation</td><td>3,554,824</td><td>249,668,803</td><td>61,711,883</td><td>45,544,956</td><td>1,620,841,215</td></tr><tr><td>RJC Mortgage Company</td><td>157,768</td><td>14,029,514</td><td>2,311,216</td><td>1,192,351</td><td>27,196,791</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>3,653,655</td><td>4,400,140</td><td>21</td><td>60,254,392</td></tr><tr><td>United States Housing Authority</td><td>-</td><td>112,928,682</td><td>6,579,199</td><td>980,119</td><td>205,708,025</td></tr><tr><td>Total</td><td>$920,348,877</td><td>$1,021,424,299</td><td>$298,780,721</td><td>$161,155,709</td><td>$4,625,340,916</td></tr></table>
Source: Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Represents capital impairment applicable to fiscal year 1941 but not appropriated until July 3, 1941. Actual payment of funds to the Corporation made by the Secretary of the Treasury in the month of September 1941.
3/ Comprises Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Metals Reserve Company, and Rubber Reserve Company.
4/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
59
Uses of Funds of Certain Governmental Corporations and Credit Agencies for the First 9 Months, Fiscal Year 1942
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 107,101</td><td>-</td><td>-</td><td>$ 64,325,960</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>2,505,408</td><td>-</td><td>$ 661,948,064</td><td>108,380,334</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>405,216</td><td>$ 2,709</td><td>-</td><td>1,084,141</td><td>-</td></tr><tr><td>Electric Home and Farm authority</td><td>386,110</td><td>326,394</td><td>-</td><td>5,684,753</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>128,522</td><td>5,742</td><td>-</td><td>54,246,398</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>2,713,330</td><td>-</td><td>-</td><td>15,573,906</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>5,885,954</td><td>840,590</td><td>2,438,965</td><td>23,263,183</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>895,581</td><td>-</td><td>-</td><td>121,586,112</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>878,963</td><td>1,054,114</td><td>-</td><td>32,107,582</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>230,432</td><td>27,278</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>12,120,337</td><td>15,953,429</td><td>6,933,599</td><td>6,256,015</td><td>$4,399,150</td></tr><tr><td>National defense corporations 2/</td><td>597,933</td><td>305,184</td><td>1,096,868,015</td><td>56,081,567</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation</td><td>6,573,736</td><td>1,776,901</td><td>-</td><td>604,956,380</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>672,414</td><td>468,132</td><td>178,497</td><td>24,184,846</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>2,495,192</td><td>-</td><td>-</td><td>48,225,227</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>3,452,058</td><td>1,093,700</td><td>4,975</td><td>177,599,390</td><td>-</td></tr><tr><td>Total</td><td>$40,408,287</td><td>$21,860,173</td><td>$1,768,072,115</td><td>$1,343,155,804</td><td>$4,399,150</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net)</th><th>Allocations, rediscounts, and loans to other governmental corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 23,556,805</td><td>-</td><td>$ 84,033</td><td>$ 342,396</td><td>$ 88,416,295</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>5,623,809</td><td>47,660,531</td><td>826,118,146</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>$ 4,601,466</td><td>-</td><td>-</td><td>6,093,533</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>82,499</td><td>1,464</td><td>6,481,231</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-</td><td>-</td><td>-</td><td>54,380,662</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>71,754,357</td><td>-</td><td>-</td><td>-</td><td>90,081,592</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-14,316,000</td><td>-</td><td>25,383,275</td><td>2,228,314</td><td>45,724,281</td></tr><tr><td>Federal home loan banks</td><td>-532,636</td><td>-</td><td>2,292,181</td><td>6,770,139</td><td>131,011,377</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>3,078,938</td><td>70,279</td><td>37,189,877</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-5,342,320</td><td>-</td><td>-</td><td>7,920,013 1/2</td><td>2,895,403</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-15,898,050</td><td>-</td><td>37,334,037</td><td>836,546</td><td>67,935,063</td></tr><tr><td>National defense corporations 2/</td><td>-</td><td>-</td><td>746</td><td>11,378,505</td><td>1,165,231,950</td></tr><tr><td>Reconstruction Finance Corporation</td><td>3,000,000</td><td>987,689,663</td><td>15,872,658</td><td>792,081</td><td>1,620,261,418</td></tr><tr><td>EFC Mortgage Company</td><td>-</td><td>-</td><td>1,692,553</td><td>-</td><td>27,196,442</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>9,752,926</td><td>-</td><td>60,473,345</td></tr><tr><td>United States Housing Authority</td><td>1,000,000</td><td>-</td><td>1,287,254</td><td>8,074,313</td><td>192,517,689</td></tr><tr><td>Total</td><td>$ 63,262,156</td><td>$992,291,129</td><td>$102,484,909</td><td>$86,074,581</td><td>$4,422,008,305</td></tr></table>
Source: Reports received from the corporations and agencies. Data on basis of checks issued. 1/ Receipts from the repayment of mortgage loans appear under "Repayment of loans" in the statement of sources of funds.
2/ Comprises Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Metals Reserve Company, and Rubber Reserve Company
3/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
60
Sources of Funds of Certain Governmental Corporations and Credit Agencies from Inception of Organization through March 31, 1942
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscounts, and loans from other governmental corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 50,000,000</td><td>$ 13,730,202</td><td>-</td><td>-</td><td>$ 1,015,300</td></tr><tr><td>Commodity Credit Corporation</td><td>271,766,037 2/</td><td>-</td><td>$ 75,000,000</td><td>$ 701,054,000</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>24,000,000 3/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric House and Farm Authority</td><td>1,000,000</td><td>-</td><td>-</td><td>10,683,750</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1,000,000</td><td>-</td><td>-</td><td>-</td><td>174,000,000</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>Federal Farm Mortgage Corporation</td><td>100,000,000 3/</td><td>-</td><td>288,000,000</td><td>929,764,200</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>101,500,000</td><td>124,741,000 4/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>104,396,770</td><td>-</td><td>85,240,000</td><td>11,000,000</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>Home Owners' Loan Corporation</td><td>200,000,000 3/</td><td>-</td><td>-</td><td>3,114,453,550 5/</td><td>-</td></tr><tr><td>National defense corporations 6/</td><td>-</td><td>1,105,634,285</td><td>-</td><td>-</td><td>30,000,000</td></tr><tr><td>Reconstruction Finance Corporation</td><td>325,000,000</td><td>100,000</td><td>1,529,682,000</td><td>1,491,944,000</td><td>-</td></tr><tr><td>HFC Mortgage Company</td><td>-</td><td>55,985,239</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>136,831,548</td><td>217,913,446</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>45,713,598</td><td>-</td><td>274,000,000</td><td>114,157,000</td><td>-</td></tr><tr><td>Total</td><td>$1,305,311,183</td><td>$1,497,759,942</td><td>$2,166,682,000</td><td>$6,548,996,500</td><td>$605,055,857</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 1/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 296,215,253</td><td>$ 11,229,999</td><td>$ 4,659,024</td><td>$ 376,849,778</td></tr><tr><td>Commodity Credit Corporation</td><td>$ 733,614,074</td><td>998,868,318</td><td>28,498,839</td><td>10,687,784</td><td>2,819,689,052</td></tr><tr><td>Disaster Loan Corporation</td><td>133,653</td><td>14,547,932</td><td>1,756,589</td><td>140,897</td><td>40,579,071</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>32,804,456</td><td>4,776,333</td><td>338,990</td><td>49,803,528</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>83,644,619</td><td>15,222,647</td><td>707,119</td><td>274,574,385</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>94,512,783</td><td>363,097,716</td><td>4,413,522</td><td>751,323,578</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>20,186,111</td><td>386,498,297</td><td>480,252,784</td><td>12,212,390</td><td>2,216,913,762</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>703,990,069</td><td>45,150,980</td><td>76,940,096 g/</td><td>1,052,322,145</td></tr><tr><td>Federal National Mortgage Association</td><td>1,127,952</td><td>41,251,679</td><td>26,611,435</td><td>3,939,412</td><td>273,567,248</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>40,440,104</td><td>218,967</td><td>140,659,071</td></tr><tr><td>Home Owners' Loan Corporation</td><td>171,290,886</td><td>1,103,547,205</td><td>959,115,120</td><td>27,297,015</td><td>5,575,703,776</td></tr><tr><td>National defense corporations 6/</td><td>252,656,862</td><td>289,500</td><td>1,107,439</td><td>101,789,936</td><td>1,491,478,023</td></tr><tr><td>Reconstruction Finance Corporation</td><td>26,979,810</td><td>5,624,522,910</td><td>670,437,388</td><td>130,395,264</td><td>9,799,061,371</td></tr><tr><td>RFC Mortgage Company</td><td>737,489</td><td>133,453,676</td><td>14,752,186</td><td>4,333,099</td><td>234,261,688</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>10,610,021</td><td>13,995,753</td><td>136</td><td>379,350,903</td></tr><tr><td>United States Housing Authority</td><td>951,401</td><td>638,501,835</td><td>27,532,785</td><td>1,157,042</td><td>1,102,014,261</td></tr><tr><td>Total</td><td>$1,207,678,238</td><td>$10,163,258,553</td><td>$2,703,978,077</td><td>$379,431,293</td><td>$26,578,151,041</td></tr></table>
Sources: 1/ Reports received from the corporations and agencies. Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations. 2/ Includes $3,000,000 N.I.R.A.; $97,000,000 R.P.C. included in notes canceled by the Treasury (See footnote 3); and $171,766,037.35 restoration of Capital Imprisonment, which is net of a repayment to the Treasury of $43,756,731.01 on the basis of March 31, 1940 appraisal of the corporation, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938. 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 canceled by the Secretary of the Treasury pursuant to the Act of February 24, 1938.
4/ The Reconstruction Finance Corporation purchased the stock of the Federal home loan banks from the Treasury Department on February 20, 1941. The net effect of this transaction is the same as a sale of stock to other agencies, and is shown as such for purposes of this report.
5/ Retirement of these obligations shown as "Retirement of obligations issued in exchange for mortgages" in the statement of uses of funds.
6/ Comprises Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Metals Reserve Company, and Rubber Reserve Company.
7/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
5/ Includes $49,824,425 paid-in capital stock held by member institutions.
61
Uses of Funds of Certain Governmental Corporations and Credit Agencies from Inception of Organization through March 31, 1942
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 984,944</td><td>-</td><td>-</td><td>$ 330,200,133</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>10,203,287</td><td>-</td><td>$ 818,785,051</td><td>1,879,444,157</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>3,343,904</td><td>$ 136,189</td><td>-</td><td>29,104,143</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>2,320,985</td><td>1,242,599</td><td>-</td><td>45,269,512</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>637,239</td><td>11,889</td><td>-</td><td>220,558,115</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>26,354,960</td><td>-</td><td>-</td><td>184,853,709</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>76,946,176</td><td>5,469,479</td><td>15,847,697</td><td>1,053,513,856</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>10,595,955</td><td>-</td><td>-</td><td>895,494,967</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>3,580,368</td><td>3,651,774</td><td>-</td><td>257,294,399</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1,541,720</td><td>52,269</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>229,732,241</td><td>135,079,209</td><td>144,020,373</td><td>3,267,655,986</td><td>$699,243,900</td></tr><tr><td>National defense corporations 2/</td><td>726,292</td><td>305,184</td><td>1,389,361,745</td><td>56,111,567</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation</td><td>89,171,457</td><td>9,154,048</td><td>-</td><td>7,572,456,937</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>5,002,154</td><td>4,581,808</td><td>7,779,824</td><td>209,548,823</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>14,110,082</td><td>-</td><td>-</td><td>344,620,369</td><td>-</td></tr><tr><td>United States Housing Authority</td><td>18,579,959</td><td>6,386,504</td><td>26,213,808</td><td>1,008,634,569</td><td>-</td></tr><tr><td>Total</td><td>$493,831,723</td><td>$166,070,952</td><td>$2,402,008,498</td><td>$17,354,761,202</td><td>$699,243,900</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) 3/</th><th>Allocations, rediscounts, and loans to other governmental corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 30,784,584</td><td>-</td><td>$ 616,698</td><td>$ 3,520,345</td><td>$ 366,106,704</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$ 61,360,197</td><td>$ 29,569,947</td><td>$ 18,498,087</td><td>$ 2,817,860,726</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>$ 7,993,637</td><td>-</td><td>$ 198</td><td>$ 40,578,071</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>$ 481,357</td><td>$ 195,819</td><td>$ 49,510,273</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>$ 45,250,000</td><td>$ 2,362,329</td><td>$ 593,801</td><td>$ 269,413,374</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>$ 491,948,154</td><td>-</td><td>-</td><td>$ 35,445,548 4/</td><td>$ 738,602,371</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>$ 746,813,840</td><td>-</td><td>$ 294,310,629</td><td>$ 19,592,315</td><td>$ 2,212,493,992</td></tr><tr><td>Federal home loan banks</td><td>$ 62,874,434</td><td>-</td><td>$ 23,069,791</td><td>$ 278,212</td><td>$ 992,313,359</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>$ 8,818,421</td><td>$ 222,326</td><td>$ 773,567,248</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>$ 122,845,837</td><td>-</td><td>$ 3,035,326</td><td>$ 10,518,175 4/</td><td>$ 137,993,327</td></tr><tr><td>Home Owners' Loan Corporation</td><td>$ 266,955,310</td><td>-</td><td>$ 514,870,309</td><td>$ 7,251,946</td><td>$ 5,264,809,274</td></tr><tr><td>National defense corporations 2/</td><td>-</td><td>$ 5,524,341</td><td>$ 746</td><td>$ 39,356,179</td><td>$ 1,491,386,054</td></tr><tr><td>Reconstruction Finance Corporation</td><td>$ 363,041,000</td><td>$ 1,488,217,807</td><td>$ 259,605,166</td><td>$ 16,547,470</td><td>$ 9,798,193,835</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>$ 7,015,518</td><td>$ 332,435</td><td>$ 234,260,561</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>$ 12,215,489</td><td>$ 371,527</td><td>$ 371,317,467</td></tr><tr><td>United States Housing Authority</td><td>$ 7,070,000</td><td>-</td><td>$ 4,961,139</td><td>$ 12,882,347</td><td>$ 1,084,728,326</td></tr><tr><td>Total</td><td>$2,092,333,159</td><td>$1,608,345,982</td><td>$1,160,932,865</td><td>$165,606,730</td><td>$26,143,135,011</td></tr></table>
Source: Reports received from the corporations and agencies. Data on basis of checks issued.
1/ Receipts received in payment of mortgages appear under "Repayment of loans" in the statement of sources of funds.
2/ Comprises Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Metals Reserve Company, and Rubber Reserve Company.
3/ Includes U. S. Government bonds in the amount of $450,700,738 as follows: Federal Deposit Insurance Corporation, $379,458,012; Federal Savings and Loan Insurance Corporation, $15,164,500; U. S. Housing Authority, $7,070,000; Federal home loan banks, $49,008,226.
4/ Includes apenditures for contributions and subrogated shares or claims in insured financial institutions.
62
Principal of Outstanding Interest-Bearing Obligations Guaranteed by the United States
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total unmatured obligations outstanding</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 notes</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>4,664.6</td><td>-</td><td>1,422.2</td><td>.1</td><td>2,987.1</td><td>255.2</td><td>-</td></tr><tr><td>1938</td><td>4,852.7</td><td>206.2</td><td>1,409.8</td><td>.6</td><td>2,937.2</td><td>298.9</td><td>-</td></tr><tr><td>1939</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>1940</td><td>5,497.6</td><td>406.8</td><td>1,269.4</td><td>7.5</td><td>2,603.4</td><td>1,096.4</td><td>114.2</td></tr><tr><td>1941</td><td>6,359.6</td><td>696.3</td><td>1,269.4</td><td>17.4</td><td>2,408.9</td><td>1,741.4</td><td>226.3</td></tr><tr><td>1941-April</td><td>6,549.6</td><td>696.3</td><td>1,269.4</td><td>16.6</td><td>2,599.8</td><td>1,741.3</td><td>226.3</td></tr><tr><td>May</td><td>6,359.2</td><td>696.3</td><td>1,269.4</td><td>17.1</td><td>2,408.9</td><td>1,741.3</td><td>226.3</td></tr><tr><td>June</td><td>6,359.6</td><td>696.3</td><td>1,269.4</td><td>17.4</td><td>2,408.9</td><td>1,741.4</td><td>226.3</td></tr><tr><td>July</td><td>6,929.6</td><td>907.0</td><td>1,269.4</td><td>16.7</td><td>2,408.9</td><td>2,101.4</td><td>226.3</td></tr><tr><td>August</td><td>6,928.2</td><td>905.3</td><td>1,269.4</td><td>16.9</td><td>2,408.9</td><td>2,101.5</td><td>226.3</td></tr><tr><td>September</td><td>6,928.9</td><td>905.3</td><td>1,269.4</td><td>17.6</td><td>2,408.9</td><td>2,101.5</td><td>226.3</td></tr><tr><td>October</td><td>6,929.5</td><td>905.3</td><td>1,269.4</td><td>18.2</td><td>2,408.9</td><td>2,101.5</td><td>226.3</td></tr><tr><td>November</td><td>6,316.1</td><td>701.1</td><td>1,269.4</td><td>20.9</td><td>2,408.9</td><td>1,801.6</td><td>114.2</td></tr><tr><td>December</td><td>6,316.6</td><td>701.1</td><td>1,269.4</td><td>21.5</td><td>2,408.9</td><td>1,801.6</td><td>114.2</td></tr><tr><td>1942-January</td><td>5,672.8</td><td>701.1</td><td>937.0</td><td>20.2</td><td>2,408.9</td><td>1,491.5</td><td>114.2</td></tr><tr><td>February</td><td>5,673.2</td><td>701.1</td><td>937.1</td><td>20.4</td><td>2,408.9</td><td>1,491.5</td><td>114.2</td></tr><tr><td>March</td><td>5,666.2</td><td>701.1</td><td>929.8</td><td>20.8</td><td>2,408.9</td><td>1,491.5</td><td>114.2</td></tr><tr><td>April</td><td>5,666.5</td><td>701.1</td><td>929.8</td><td>21.0</td><td>2,408.9</td><td>1,491.5</td><td>114.2</td></tr></table>
Source: Daily Treasury Statements. 1/ Excludes obligations sold directly to the Treasury.
Market Financing Operations Conducted by the Treasury for Agencies Issuing Securities Guaranteed by the United States
(in millions of dollars)
<table><tr><th>Agency</th><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 subscriptions tendered</th><th colspan="6">New securities allotted</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>Bonds</th><th>Notes</th><th></th><th>For cash</th><th colspan="2">Amount of exchanges</th><th colspan="2">In exchange for</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Bonds</th><th>Notes</th><th>Date of issue</th><th>Rate (per-cent)</th><th>Call or maturity date</th></tr><tr><td>Commodity Credit Corporation</td><td>May 2, 1938<br>Aug. 1, 1939<br>Nov. 2, 1939<br>Aug. 1, 1940<br>July 21, 1941</td><td>3/4<br>5/8<br>1<br>3/4<br>1-1/8</td><td>1 yr., 6 mos.<br>2 yrs.<br>2 yrs.,13 days<br>2 yrs., 9 mos.<br>3 yrs., 7 mos.</td><td>Nov. 2, 1939<br>Aug. 1, 1941<br>Nov. 15, 1941<br>May 1, 1943<br>Feb. 15, 1945</td><td>-<br>-<br>-<br>-<br>-</td><td>206<br>203<br>204<br>289<br>412</td><td>1,839<br>2,853<br>-<br>3,185<br>5,157</td><td>148<br>203<br>-<br>289<br>211</td><td>-<br>-<br>-<br>-<br>-</td><td>58<br>-<br>204<br>-<br>201</td><td>Aug. 2, 1937<br>-<br>May 2, 1938<br>-<br>Aug. 1, 1939</td><td>1<br>-<br>3/4<br>-<br>5/8</td><td>May 2, 1938<br>-<br>Nov. 2, 1939<br>-<br>Aug. 1, 1941</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>July 25, 1934 1/2 (Add. 5/15/34) 2/3<br>Sept. 3, 1935 1/1</td><td>3<br>1-1/2</td><td>10-15 yrs.<br>4 yrs.</td><td>May 15, 1944<br>May 15, 1949<br>Sept. 1, 1939</td><td>100<br>-<br>85</td><td>-<br>-<br>-</td><td>195<br>100<br>86</td><td>100<br>-<br>85</td><td>-<br>-<br>-</td><td>-<br>-<br>-</td><td>-<br>-<br>-</td><td>-<br>-<br>-</td><td>-<br>-<br>-</td></tr><tr><td>Homo Owners' Loan Corporation</td><td>Aug. 15, 1934 1/1<br>Aug. 15, 1934 1/1<br>Aug. 15, 1934 1/1<br>June 1, 1935<br>May 15, 1939<br>May 15, 1939<br>June 1, 1939</td><td>1-1/2<br>1-3/4<br>2<br>1-1/2<br>3/8<br>5/8<br>1-1/2</td><td>2 yrs.<br>3 yrs.<br>4 yrs.<br>4 yrs.<br>1 yr.<br>2 yrs.<br>6-8 yrs.</td><td>Aug. 15, 1936<br>Aug. 15, 1937<br>Aug. 15, 1938<br>June 1, 1939<br>May 15, 1940<br>May 15, 1941<br>June 1, 1945</td><td>50<br>50<br>50<br>325 3/1<br>128<br>192<br>764 3/1</td><td>-<br>-<br>-<br>-<br>-<br>-<br>-</td><td>124<br>148<br>60<br>-<br>-<br>-<br>-</td><td>50<br>50<br>50<br>80<br>128<br>192<br>77</td><td>-<br>-<br>-<br>245<br>-<br>-<br>687</td><td>-<br>-<br>-<br>-<br>-<br>-<br>-</td><td>-<br>-<br>-<br>July 1, 1933<br>June 1, 1935<br>June 1, 1935<br>Aug. 1, 1934</td><td>-<br>-<br>-<br>3/4<br>1-1/2<br>1-1/2<br>2-3/4</td><td>-<br>-<br>-<br>July 1, 1935<br>June 1, 1939<br>June 1, 1939<br>Aug. 1, 1939</td></tr><tr><td>Reconstruction Finance Corp.</td><td>July 20, 1938<br>Nov. 1, 1938<br>Feb. 15, 1939<br>Nov. 10, 1939<br>Apr. 17, 1941<br>Apr. 17, 1941<br>July 3, 1941</td><td>7/8<br>7/8<br>7/8<br>1<br>7/8<br>1-1/8<br>1</td><td>3 yrs.<br>3 yrs.<br>2 yrs.,11 mos.<br>2 yrs., 7 mos.<br>18 mos.<br>2 yrs., 3 mos.<br>2 yrs.,93 mos.</td><td>July 20, 1941<br>Nov. 1, 1941<br>Jan. 15, 1942<br>July 1, 1942<br>Oct. 15, 1942<br>July 15, 1943<br>Apr. 15, 1944</td><td>-<br>-<br>-<br>-<br>-<br>-<br>-</td><td>211<br>297<br>310<br>276<br>320<br>324<br>571</td><td>2,627<br>-<br>2,567<br>3,619<br>2,647<br>3,561<br>5,065</td><td>211<br>-<br>310<br>276<br>320<br>324<br>363</td><td>-<br>-<br>-<br>-<br>-<br>-<br>-</td><td>-<br>297 5/1<br>-<br>-<br>-<br>-<br>209</td><td>-<br>Dec. 16, 1935<br>-<br>-<br>-<br>-<br>July 20, 1938</td><td>-<br>1-1/2<br>-<br>-<br>-<br>7/8</td><td>-<br>Dec. 15, 1938<br>-<br>-<br>-<br>-<br>July 20, 1941</td></tr><tr><td>U. S. Housing Authority</td><td>Feb. 1, 1939<br>Nov. 1, 1940</td><td>1-3/8<br>1/4</td><td>5 yrs.<br>1 yr.</td><td>Feb. 1, 1944<br>Nov. 1, 1941</td><td>-<br>-</td><td>114<br>112</td><td>2,774<br>1,860</td><td>114<br>112</td><td>-<br>-</td><td>-<br>-</td><td>-<br>-</td><td>-<br>-</td><td>-<br>-</td></tr></table>
1/ Sold on a bid basis.
2/ Original issue sold by agency.
3/ Original issue of $245,254,750 increased by sales on the market of $80,000,000, proceeds of which were used to retire the called bonds.
4/ Original issue of $687,266,800 increased by sales on the market of $76,350,000, proceeds of which were used to retire the called bonds.
5) In view of the fact that the new 7½% notes offered for sale were limited to the amount of 1-1/2% notes entering December 15, 1938, tendered for purchase, this transaction was in effect an exchange offering and is so shown in this statement. Subsequent to November 1, 1938, $2,600,000 of those notes were sold for cash.
INTERNAL
REVENUE
STATISTICS
-63-
64
Summary of Internal Revenue Collections
(in thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th colspan="3">Income and profit taxee</th><th colspan="4">Employment taxes</th></tr><tr><th></th><th></th><th>Total</th><th>Individual</th><th>Corporation, income and excess profits 2/</th><th>Miscellaneous profits taxes 3/</th><th>Total</th><th>Social Security taxes 4/ Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Carriers' Faring 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><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><td>-</td></tr><tr><td>1931</td><td>2,428,229</td><td>1,860,040</td><td>833,048</td><td>1,026,392</td><td>-</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><td>-</td></tr><tr><td>1933</td><td>1,619,839</td><td>746,791</td><td>352,573</td><td>394,218</td><td>-</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>397,516</td><td>2,631</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>3,281,792</td><td>1,105,788</td><td>527,113</td><td>572,115</td><td>6,560</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>3,494,330</td><td>1,427,445</td><td>674,416</td><td>718,520</td><td>14,509</td><td>48</td><td>-</td><td>-</td><td>48</td></tr><tr><td>1937</td><td>4,634,308</td><td>2,179,828</td><td>1,091,741</td><td>1,056,909</td><td>31,178</td><td>265,745</td><td>207,339</td><td>58,119</td><td>287</td></tr><tr><td>1938</td><td>5,643,834</td><td>2,629,016</td><td>1,286,312</td><td>1,299,918</td><td>42,786</td><td>742,660</td><td>502,917</td><td>90,267</td><td>149,476</td></tr><tr><td>1939</td><td>5,162,355</td><td>2,185,105</td><td>1,028,834</td><td>1,122,531</td><td>33,740</td><td>740,429</td><td>529,835</td><td>101,167</td><td>109,427</td></tr><tr><td>1940</td><td>5,322,768</td><td>2,129,606</td><td>982,011</td><td>1,120,579</td><td>27,010</td><td>833,521</td><td>605,350</td><td>106,123</td><td>122,048</td></tr><tr><td>1941</td><td>7,351,531</td><td>3,471,121</td><td>1,417,655</td><td>2,016,295</td><td>37,171</td><td>925,856</td><td>687,327</td><td>100,658</td><td>137,871</td></tr><tr><td>1941-April</td><td>412,881</td><td>74,149</td><td>18,622</td><td>52,214</td><td>3,313</td><td>85,766</td><td>83,000</td><td>3,889</td><td>1,877</td></tr><tr><td>May</td><td>538,827</td><td>135,497</td><td>21,195</td><td>111,981</td><td>2,321</td><td>137,414</td><td>105,884</td><td>6,148</td><td>25,382</td></tr><tr><td>June</td><td>1,110,083</td><td>847,814</td><td>311,899</td><td>531,898</td><td>4,017</td><td>12,597</td><td>3,158</td><td>806</td><td>8,633</td></tr><tr><td>July</td><td>459,587</td><td>80,573</td><td>20,553</td><td>57,801</td><td>2,219</td><td>100,065</td><td>95,612</td><td>3,726</td><td>727</td></tr><tr><td>August</td><td>472,311</td><td>58,398</td><td>15,684</td><td>40,630</td><td>2,084</td><td>138,516</td><td>109,268</td><td>5,761</td><td>23,487</td></tr><tr><td>September</td><td>1,051,580</td><td>776,725</td><td>277,383</td><td>492,215</td><td>7,127</td><td>16,754</td><td>3,204</td><td>888</td><td>12,662</td></tr><tr><td>October</td><td>588,533</td><td>72,755</td><td>13,352</td><td>58,109</td><td>1,294</td><td>106,308</td><td>101,689</td><td>3,831</td><td>788</td></tr><tr><td>November</td><td>571,624</td><td>65,600</td><td>15,269</td><td>49,197</td><td>1,134</td><td>145,249</td><td>114,437</td><td>5,189</td><td>25,623</td></tr><tr><td>December</td><td>1,138,288</td><td>768,971</td><td>248,444</td><td>514,199</td><td>6,368</td><td>17,746</td><td>3,385</td><td>723</td><td>13,638</td></tr><tr><td>1942-January</td><td>642,271</td><td>142,618</td><td>56,724</td><td>83,365</td><td>2,529</td><td>129,504</td><td>97,010</td><td>30,851</td><td>1,643</td></tr><tr><td>February</td><td>859,750</td><td>337,101</td><td>229,353</td><td>105,648</td><td>2,100</td><td>198,900</td><td>124,331</td><td>53,554</td><td>21,015</td></tr><tr><td>March</td><td>3,455,803</td><td>3,073,000</td><td>1,468,071</td><td>1,593,507</td><td>11,422</td><td>27,980</td><td>1,513</td><td>1,692</td><td>24,775</td></tr><tr><td>April</td><td>696,855</td><td>295,111</td><td>171,318</td><td>121,047</td><td>2,746</td><td>108,218</td><td>102,359</td><td>4,970</td><td>889</td></tr></table>
Miscellaneous internal revenue
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Capital stock tax</th><th>Estate and gift taxes</th><th>Alcoholic beverage taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>Manufac-turers' and retailers' excise taxes</th><th>Miscel-laneous taxes 5/</th><th>Agricultural adjustment taxes</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></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>314</td><td>25,010</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></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></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></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>68,580</td><td>390,038</td><td>147,156</td><td>371,423</td></tr><tr><td>1935</td><td>1,649,782</td><td>91,508</td><td>212,112</td><td>410,926</td><td>458,776</td><td>43,133</td><td>342,275</td><td>91,052</td><td>526,222</td></tr><tr><td>1936</td><td>2,004,514</td><td>94,943</td><td>378,840</td><td>505,243</td><td>500,786</td><td>68,990</td><td>379,540</td><td>76,172</td><td>62,323</td></tr><tr><td>1937</td><td>2,188,735</td><td>137,499</td><td>305,548</td><td>593,831</td><td>551,923</td><td>69,913</td><td>449,854</td><td>80,161</td><td>-</td></tr><tr><td>1938</td><td>2,272,158</td><td>139,349</td><td>416,874</td><td>567,670</td><td>567,777</td><td>46,233</td><td>416,754</td><td>117,501</td><td>-</td></tr><tr><td>1939</td><td>2,236,821</td><td>127,203</td><td>360,715</td><td>587,605</td><td>579,784</td><td>41,083</td><td>396,891</td><td>143,540</td><td>-</td></tr><tr><td>1940</td><td>2,359,041</td><td>132,739</td><td>360,071</td><td>624,064</td><td>608,072</td><td>38,681</td><td>447,088</td><td>148,926</td><td>-</td></tr><tr><td>1941</td><td>2,994,554</td><td>166,653</td><td>407,058</td><td>819,869</td><td>697,712</td><td>39,057</td><td>617,354</td><td>206,851</td><td>-</td></tr><tr><td>1941-April</td><td>249,966</td><td>187</td><td>49,720</td><td>66,124</td><td>58,044</td><td>3,529</td><td>54,218</td><td>18,154</td><td>-</td></tr><tr><td>May</td><td>265,916</td><td>250</td><td>29,174</td><td>79,443</td><td>64,586</td><td>3,307</td><td>67,370</td><td>21,786</td><td>-</td></tr><tr><td>June</td><td>249,672</td><td>250</td><td>30,599</td><td>80,952</td><td>66,446</td><td>3,378</td><td>51,391</td><td>16,656</td><td>-</td></tr><tr><td>July</td><td>278,949</td><td>11,603</td><td>29,980</td><td>86,333</td><td>66,327</td><td>3,064</td><td>63,743</td><td>17,699</td><td>-</td></tr><tr><td>August</td><td>275,397</td><td>3,797</td><td>22,636</td><td>85,847</td><td>64,044</td><td>3,975</td><td>72,524</td><td>22,574</td><td>-</td></tr><tr><td>September</td><td>258,101</td><td>5,084</td><td>20,840</td><td>86,727</td><td>67,760</td><td>3,794</td><td>54,328</td><td>19,568</td><td>-</td></tr><tr><td>October</td><td>409,470</td><td>130,148</td><td>32,632</td><td>91,516</td><td>71,304</td><td>3,553</td><td>60,219</td><td>20,088</td><td>-</td></tr><tr><td>November</td><td>360,775</td><td>76,103</td><td>31,408</td><td>90,246</td><td>62,156</td><td>3,239</td><td>72,015</td><td>25,608</td><td>-</td></tr><tr><td>December</td><td>351,571</td><td>50,235</td><td>23,587</td><td>93,056</td><td>58,302</td><td>3,873</td><td>92,750</td><td>29,768</td><td>-</td></tr><tr><td>1942-January</td><td>370,149</td><td>2,723</td><td>36,957</td><td>100,623</td><td>69,581</td><td>5,328</td><td>102,518</td><td>52,419</td><td>-</td></tr><tr><td>February</td><td>323,749</td><td>616</td><td>35,684</td><td>77,653</td><td>59,606</td><td>3,222</td><td>80,900</td><td>66,068</td><td>-</td></tr><tr><td>March</td><td>354,823</td><td>352</td><td>105,317</td><td>84,657</td><td>61,601</td><td>2,796</td><td>63,652</td><td>36,448</td><td>-</td></tr><tr><td>April</td><td>293,526</td><td>291</td><td>43,090</td><td>81,427</td><td>62,866</td><td>3,159</td><td>70,008</td><td>32,685</td><td>-</td></tr></table>
Sources: Reports of collections.
1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc. (except for the fiscal years 1929 through 1934, when they aggregated less than $1 million a year).
2/ Excess profits tax imposed under the Second Revenue Act of 1940, as amended.
1/ Consists of the declared value excess profits tax, the profit limiting provisions of the Vinson Act, and the tax on unjust enrichment.
4/ For the period prior to September 1939 the data in the columns entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
5/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
65
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to 1941
First 10 Months Fiscal Year 1942
* Includes miscellaneous profits taxes
66
Detailed Analysis of Current Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th>April 1942</th><th colspan="2">First 10 months</th><th>Sources of revenue</th><th>April 1942</th><th colspan="2">First 10 months</th></tr><tr><th></th><th></th><th>Fiscal year 1941</th><th>Fiscal year 1942</th><th></th><th></th><th>Fiscal year 1941</th><th>Fiscal year 1942</th></tr><tr><td>Income and profits taxes:</td><td></td><td></td><td></td><td>Stamp taxes:</td><td></td><td></td><td></td></tr><tr><td>Individual</td><td>131,832</td><td>999,146</td><td>2,380,318</td><td>Bonds, issues of capital stocks, deeds of conveyance, etc.</td><td>1,580</td><td>18,280</td><td>19,359</td></tr><tr><td>Current</td><td>39,486</td><td>85,415</td><td>135,834</td><td>Transfers of capital stock and similar interest sales</td><td>731</td><td>10,307</td><td>11,830</td></tr><tr><td>Back</td><td></td><td></td><td></td><td>Playing cards</td><td>543</td><td>3,742</td><td>4,791</td></tr><tr><td>Corporation</td><td>43,798</td><td>1,124,518</td><td>1,913,284</td><td>Silver bullion sales or transfers</td><td>5</td><td>43</td><td>33</td></tr><tr><td>Current</td><td>33,639</td><td>154,393</td><td>236,254</td><td>Repealed taxes not listed above</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Back</td><td></td><td></td><td></td><td>Total stamp taxes</td><td>3,159</td><td>32,372</td><td>36,013</td></tr><tr><td>Excess profits tax (Second Revenue Act of 1940 as amended)</td><td>43,610</td><td>93,205</td><td>966,137</td><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td></tr><tr><td>Miscellaneous profits taxes</td><td></td><td></td><td></td><td>Lubricating oils</td><td>3,962</td><td>30,047</td><td>39,419</td></tr><tr><td>Declared value</td><td>2,523</td><td>20,864</td><td>34,259</td><td>Gasoline</td><td>26,575</td><td>278,035</td><td>316,410</td></tr><tr><td>Vinson Act</td><td>18</td><td>1,869</td><td>684</td><td>Tires and tubes</td><td>2,985</td><td>39,431</td><td>55,035</td></tr><tr><td>Unjust enrichment</td><td>205</td><td>8,101</td><td>4,081</td><td>Floor taxes on tires and tubes</td><td>32</td><td>-</td><td>7,931</td></tr><tr><td>Total income and profits taxes</td><td>295,111</td><td>2,487,811</td><td>5,670,851</td><td>Automobile trucks and buses</td><td>1,856</td><td>9,096</td><td>16,487</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Other automobiles and motorcycles</td><td>2,411</td><td>67,154</td><td>76,597</td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td>Parts and accessories for automobiles</td><td>3,024</td><td>10,704</td><td>23,045</td></tr><tr><td>Federal Insurance Contributions Act (Old-age insurance)</td><td>102,359</td><td>578,285</td><td>752,808</td><td>Electrical energy</td><td>4,528</td><td>39,005</td><td>42,083</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance)</td><td>4,970</td><td>93,704</td><td>111,185</td><td>Electric, gas, and oil appliances</td><td>2,702</td><td>-</td><td>13,719</td></tr><tr><td>Total Social Security taxes</td><td>107,329</td><td>671,989</td><td>863,993</td><td>Electric light bulbs and tubes</td><td>419</td><td>-</td><td>2,144</td></tr><tr><td>Carriers' Taxing Act of 1937</td><td>889</td><td>103,856</td><td>125,246</td><td>Radio sets, phonographs, components, etc.</td><td>132</td><td>-</td><td>522</td></tr><tr><td>Total employment taxes</td><td>108,218</td><td>775,845</td><td>989,239</td><td>Photograph records</td><td>2,113</td><td>5,819</td><td>15,582</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td>Musical instruments</td><td>143</td><td>-</td><td>665</td></tr><tr><td>Capital stock tax</td><td>290</td><td>166,153</td><td>281,152</td><td>Mechanical refrigerators, air-conditioners, etc.</td><td>328</td><td>-</td><td>1,742</td></tr><tr><td>Estate tax</td><td>39,778</td><td>298,999</td><td>291,591</td><td>Matches</td><td>1,272</td><td>8,877</td><td>14,403</td></tr><tr><td>Gift tax</td><td>3,312</td><td>48,285</td><td>90,540</td><td>Floor taxes on matches</td><td>842</td><td>82</td><td>3,832</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Business and store machines</td><td>7</td><td>-</td><td>1,692</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>2,490</td><td>27,366</td><td>30,220</td><td>Furs - retailers' excise</td><td>1,441</td><td>-</td><td>4,881</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>42,045</td><td>317,304</td><td>459,507</td><td>Jewelry - retailers' excise</td><td>2,523</td><td>-</td><td>17,331</td></tr><tr><td>Distilled spirits rectification tax</td><td>1,285</td><td>10,925</td><td>14,802</td><td>luggage</td><td>4,598</td><td>-</td><td>31,964</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>19</td><td>333</td><td>291</td><td>Optical equipment</td><td>348</td><td>-</td><td>1,927</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>2,059</td><td>8,772</td><td>20,038</td><td>Photographic apparatus</td><td>68</td><td>-</td><td>314</td></tr><tr><td>Brandy used for fortifying sweet wines (Repealed as of July 1, 1940)</td><td>1</td><td>922</td><td>1,249</td><td>Ember articles</td><td>788</td><td>-</td><td>4,275</td></tr><tr><td>Dealers in distilled spirits, rectifiers: manufacturers of stills (special taxes)</td><td>68</td><td>5,852</td><td>5,614</td><td>Sporting goods</td><td>3,628</td><td>-</td><td>15,774</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>-</td><td>-</td><td>1</td><td>Toilet preparations - retailers' excise</td><td>522</td><td>-</td><td>2,401</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>74</td><td>848</td><td>968</td><td>Washing machines</td><td>2,085</td><td>-</td><td>14,715</td></tr><tr><td>Container stamps</td><td>881</td><td>8,160</td><td>9,660</td><td>Firearms, shells and cartridges</td><td>31</td><td>-</td><td>133</td></tr><tr><td>Floor taxes</td><td>1,963</td><td>25,239</td><td>38,484</td><td>Pistols and revolvers</td><td>444</td><td>4,533</td><td>3,963</td></tr><tr><td>Fermented malt liquors</td><td>30,507</td><td>250,604</td><td>294,438</td><td>Repealed taxes not listed above</td><td>9</td><td>69</td><td>72</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>35</td><td>3,100</td><td>2,816</td><td>Total manufacturers' and retailers' excise taxes</td><td>192</td><td>5,741</td><td>3,618</td></tr><tr><td>Total alcoholic beverage taxes</td><td>81,427</td><td>659,484</td><td>878,088</td><td>Miscellaneous taxes:</td><td>70,008</td><td>498,593</td><td>732,676</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Bituminous Coal Act of 1937</td><td>502</td><td>3,884</td><td>4,574</td></tr><tr><td>Cigars (large)</td><td>1,186</td><td>10,791</td><td>11,838</td><td>Sugar Act of 1937</td><td>4,890</td><td>60,676</td><td>59,237</td></tr><tr><td>Cigars (small)</td><td>9</td><td>97</td><td>90</td><td>Telephone, telegraph, radio and cable, leased wires, etc.</td><td>5,764</td><td>22,378</td><td>37,517</td></tr><tr><td>Cigarettes (large)</td><td>1</td><td>10</td><td>13</td><td>Local telephone service</td><td>3,807</td><td>-</td><td>17,693</td></tr><tr><td>Cigarettes (small)</td><td>56,486</td><td>498,507</td><td>579,941</td><td>Transportation of oil by pipe line</td><td>994</td><td>10,176</td><td>11,310</td></tr><tr><td>Snuff</td><td>726</td><td>5,723</td><td>6,279</td><td>Transportation of persons, seats, berths, etc. (effective 10/10/41)</td><td>3,315</td><td>-</td><td>14,631</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>4,283</td><td>45,862</td><td>43,762</td><td>Use of motor vehicles (effective 2/1/42)</td><td>762</td><td>-</td><td>62,094</td></tr><tr><td>Cigarette papers and tubes</td><td>176</td><td>1,152</td><td>1,616</td><td>Use of boats (effective 2/1/42)</td><td>19</td><td>-</td><td>73</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>-</td><td>7</td><td>4</td><td>Leases of safe-deposit boxes</td><td>435</td><td>1,848</td><td>2,935</td></tr><tr><td>Cigarette floor taxes</td><td>-</td><td>4,531</td><td>5</td><td>Admissions to theaters, concerts, cabarets, etc.</td><td>10,789</td><td>-</td><td>58,126</td></tr><tr><td>Total tobacco taxes</td><td>62,867</td><td>566,680</td><td>643,548</td><td>Club dues and initiation fees</td><td>559</td><td>-</td><td>91,678</td></tr><tr><td></td><td></td><td></td><td></td><td>Bowling alleys, pool tables, etc.</td><td>32</td><td>-</td><td>5,395</td></tr><tr><td></td><td></td><td></td><td></td><td>Coin operated devices</td><td>208</td><td>-</td><td>5,609</td></tr><tr><td></td><td></td><td></td><td></td><td>Adulterated and processed or renovated butter, mixed flour and filled cheese</td><td>2</td><td>26</td><td>28</td></tr><tr><td></td><td></td><td></td><td></td><td>Oleomargarine, including special taxes</td><td>89</td><td>1,729</td><td>1,861</td></tr><tr><td></td><td></td><td></td><td></td><td>Marrocites, including marijuana and special taxes</td><td>57</td><td>430</td><td>474</td></tr><tr><td></td><td></td><td></td><td></td><td>Coconut and other vegetable oils processed</td><td>449</td><td>3,906</td><td>6,346</td></tr><tr><td></td><td></td><td></td><td></td><td>National Firearms Act</td><td>1</td><td>7</td><td>12</td></tr><tr><td></td><td></td><td></td><td></td><td>All other, including repealed taxes not listed above</td><td>11</td><td>27</td><td>48</td></tr><tr><td>Total internal revenue</td><td>696,855</td><td>5,702,621</td><td>9,936,502</td><td>Total miscellaneous taxes</td><td>32,685</td><td>168,399</td><td>322,904</td></tr><tr><td>Total internal revenue</td><td>293,526</td><td>2,438,965</td><td>3,276,512</td><td>Total miscellaneous internal revenue</td><td>293,526</td><td>2,438,965</td><td>3,276,512</td></tr></table>
Source: Reports of collections. * Less than $500.
1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc.
GOLD AND SILVER STATISTICS
-67-
68
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<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>Gold Reserve against U. S. notes, etc. 2/</th><th>Stabilisation 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>17,641.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1940</td><td>21,994.5</td><td>19,825.4</td><td>156.0</td><td>1,800.0</td><td>213.2</td></tr><tr><td>1941</td><td>22,736.1</td><td>20,564.8</td><td>156.0</td><td>1,800.0</td><td>215.3</td></tr><tr><td>1941-April</td><td>22,505.3</td><td>20,267.4</td><td>156.0</td><td>1,800.0</td><td>281.9</td></tr><tr><td>May</td><td>22,574.9</td><td>20,387.8</td><td>156.0</td><td>1,800.0</td><td>231.1</td></tr><tr><td>June</td><td>22,624.1</td><td>20,384.5</td><td>156.0</td><td>1,800.0</td><td>283.5</td></tr><tr><td>July</td><td>22,674.4</td><td>20,379.7</td><td>156.0</td><td>1,800.0</td><td>338.6</td></tr><tr><td>August</td><td>22,718.7</td><td>20,376.4</td><td>156.0</td><td>1,800.0</td><td>386.2</td></tr><tr><td>September</td><td>22,760.5</td><td>20,522.6</td><td>156.0</td><td>1,800.0</td><td>281.9</td></tr><tr><td>October</td><td>22,799.5</td><td>20,633.2</td><td>156.0</td><td>1,800.0</td><td>210.2</td></tr><tr><td>November</td><td>22,784.9</td><td>20,629.9</td><td>156.0</td><td>1,800.0</td><td>199.0</td></tr><tr><td>December</td><td>22,736.1</td><td>20,564.8</td><td>156.0</td><td>1,800.0</td><td>215.3</td></tr><tr><td>1942-January</td><td>22,746.9</td><td>20,594.0</td><td>156.0</td><td>1,800.0</td><td>196.9</td></tr><tr><td>February</td><td>22,704.5</td><td>20,575.5</td><td>156.0</td><td>1,800.0</td><td>173.0</td></tr><tr><td>March</td><td>22,687.4</td><td>20,555.0</td><td>156.0</td><td>1,800.0</td><td>176.4</td></tr><tr><td>April</td><td>22,690.2</td><td>20,569.3</td><td>156.0</td><td>1,800.0</td><td>165.0</td></tr></table>
Source: Daily Treasury Statements.
1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the Gold Certificate Fund - Board of Governors, Federal Reserve System, and (b) the Redemption Fund - Federal Reserve notes.
2/ Reserve against United States notes and Treasury notes of 1890.
3/ Excludes gold in active portion of Stabilisation Fund.
<table><tr><th colspan="5">Treasury Gold Receipts (In millions of dollars at $35 per fine ounce)</th><th colspan="4">Monetary Stocks of Gold and Silver (In millions of dollars)</th></tr><tr><th></th><th>Newly-mined domestic gold</th><th>Gold received by importation or released for exportation (-) 1/</th><th>Miscellaneous 2/</th><th>Total</th><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>1937 - Jan.-Mar.</td><td>32.93</td><td>277.22</td><td>6.00</td><td>316.15</td><td>1934.</td><td>7,856.2</td><td>898.2</td><td>10.3</td></tr><tr><td>Apr.-June.</td><td>36.46</td><td>691.37</td><td>16.61</td><td>744.44</td><td>1935.</td><td>9,115.6</td><td>1,463.1</td><td>13.8</td></tr><tr><td>July-Sept.</td><td>45.85</td><td>371.80</td><td>4.40</td><td>422.05</td><td>1936.</td><td>10,608.4</td><td>2,249.5</td><td>17.5</td></tr><tr><td>Oct.-Dec.</td><td>45.61</td><td>-30.80</td><td>4.95</td><td>19.76</td><td>1937.</td><td>12,318.3</td><td>2,542.1</td><td>17.2</td></tr><tr><td>1938 - Jan.-Mar.</td><td>38.23</td><td>-7.67</td><td>3.83</td><td>34.39</td><td>1938.</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>Apr.-June.</td><td>40.42</td><td>124.59</td><td>3.54</td><td>168.55</td><td>1939.</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>July-Sept.</td><td>47.22</td><td>743.96</td><td>5.25</td><td>796.43</td><td>1940.</td><td>19,903.1</td><td>3,939.6</td><td>16.5</td></tr><tr><td>Oct.-Dec.</td><td>49.12</td><td>701.00</td><td>1.75</td><td>751.87</td><td>1941.</td><td>22,624.2</td><td>4,184.7</td><td>15.5</td></tr><tr><td>1939 - Jan.-Mar.</td><td>44.40</td><td>699.30</td><td>3.31</td><td>747.01</td><td>1941-April.</td><td>22,505.8</td><td>4,120.8</td><td>15.5</td></tr><tr><td>Apr.-June.</td><td>43.69</td><td>804.96</td><td>3.11</td><td>851.76</td><td>May.</td><td>22,574.9</td><td>4,135.3</td><td>15.5</td></tr><tr><td>July-Sept.</td><td>52.74</td><td>765.95</td><td>3.24</td><td>821.53</td><td>June.</td><td>22,624.2</td><td>4,148.7</td><td>15.5</td></tr><tr><td>Oct.-Dec.</td><td>51.62</td><td>657.47</td><td>2.84</td><td>711.93</td><td>July.</td><td>22,674.7</td><td>4,167.9</td><td>15.5</td></tr><tr><td>1940 - Jan.-Mar.</td><td>46.77</td><td>739.62</td><td>2.93</td><td>789.32</td><td>August.</td><td>22,719.4</td><td>4,185.1</td><td>15.6</td></tr><tr><td>Apr.-June.</td><td>46.37</td><td>1,480.79</td><td>3.14</td><td>1,530.30</td><td>September.</td><td>22,760.9</td><td>4,207.1</td><td>15.6</td></tr><tr><td>July-Sept.</td><td>52.27</td><td>1,225.88</td><td>3.16</td><td>1,281.31</td><td>October.</td><td>22,799.7</td><td>4,221.5</td><td>15.6</td></tr><tr><td>Oct.-Dec.</td><td>73.63</td><td>674.04</td><td>2.50</td><td>750.17</td><td>November.</td><td>22,785.3</td><td>4,232.7</td><td>15.7</td></tr><tr><td>1941 - Jan.-Mar.</td><td>49.67</td><td>320.20</td><td>2.59</td><td>372.46</td><td>December.</td><td>22,736.6</td><td>4,244.8</td><td>15.7</td></tr><tr><td>Apr.-June.</td><td>30.91</td><td>224.76</td><td>1.40</td><td>257.07</td><td>1942-January.</td><td>22,747.2</td><td>4,257.1</td><td>15.8</td></tr><tr><td>July-Sept.</td><td>57.05</td><td>76.11</td><td>3.27</td><td>136.43</td><td>February.</td><td>22,704.8</td><td>4,267.5</td><td>15.8</td></tr><tr><td>Oct.-Dec.</td><td>49.20</td><td>-75.91</td><td>2.31</td><td>-24.40</td><td>March.</td><td>22,687.4</td><td>4,277.8</td><td>15.9</td></tr><tr><td>1942 - Jan.-Mar.</td><td>36.49</td><td>-87.04</td><td>1.86</td><td>-48.69</td><td>April.</td><td>22,690.2 p</td><td>4,278.9 p</td><td>15.9 p</td></tr><tr><td colspan="5">1/ Includes gold released from earmark or gold placed under earmark. 2/ Comprises domestic coin, secondary gold, etc.</td><td colspan="4">Source: Daily Treasury Statement and Circulation Statement of United States Moneys. p Preliminary.</td></tr></table>
Increment Resulting from the Reduction in the Weight of the Gold Dollar, December 31, 1941
<table><tr><th></th><th>Allocations of increment</th><th>Charges against increment</th><th>Unexpended balance of allocated increment</th></tr><tr><td>Exchange Stabilization Fund</td><td>$2,000,000,000.00</td><td>$2,000,000,000.00</td><td>-</td></tr><tr><td>Payments to Federal Reserve Banks for industrial loans</td><td>139,299,556.99</td><td>27,546,310.97</td><td>$111,753,246.02</td></tr><tr><td>Philippine currency reserve</td><td>23,852,750.78</td><td>-</td><td>23,852,750.78</td></tr><tr><td>Writing losses on gold coin</td><td>2,175,121.93</td><td>1,845,163.69</td><td>329,658.24</td></tr><tr><td>Retirement of National Bank notes</td><td>645,387,965.45</td><td>645,387,965.45</td><td>-</td></tr><tr><td>Reassigned</td><td>7,372,379.92</td><td>-</td><td>7,372,379.92</td></tr><tr><td>Total increment</td><td>$2,818,097,775.07</td><td>$2,674,779,740.11</td><td>$143,318,034.96</td></tr></table>
69
MONETARY STOCKS OF GOLD AND SILVER IN THE UNITED STATES
Gold per Ounce $35.00; Silver per Ounce $1.29
QUARTERLY (End of Quarter)
MONTHLY (End of Month)
70
Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="2">Securing silver certificates 1/</th><th colspan="3">In General Fund</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.29 per ounce</th></tr><tr><th></th><th>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/</th><th>Subsidiary coin 2/</th><th></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>1939</td><td>1,238.2</td><td>499.0</td><td>5.3</td><td>-</td><td>616.0</td><td>48.1</td><td>394.1</td><td>3,790.2</td></tr><tr><td>1940</td><td>1,398.1</td><td>494.6</td><td>2.3</td><td>-</td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td>-</td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1941-April</td><td>1,423.8</td><td>493.7</td><td>5.1</td><td>-</td><td>665.5</td><td>53.4</td><td>429.3</td><td>4,120.8</td></tr><tr><td>May</td><td>1,430.0</td><td>493.0</td><td>4.9</td><td>.1</td><td>666.1</td><td>54.1</td><td>434.8</td><td>4,135.3</td></tr><tr><td>June</td><td>1,435.9</td><td>492.0</td><td>4.1</td><td>-</td><td>665.2</td><td>55.1</td><td>443.2</td><td>4,148.7</td></tr><tr><td>July</td><td>1,443.5</td><td>490.7</td><td>5.4</td><td>.1</td><td>665.4</td><td>56.3</td><td>450.0</td><td>4,167.9</td></tr><tr><td>August</td><td>1,451.3</td><td>489.6</td><td>5.1</td><td>-</td><td>666.9</td><td>57.5</td><td>456.6</td><td>4,188.1</td></tr><tr><td>September</td><td>1,459.3</td><td>488.4</td><td>3.4</td><td>-</td><td>667.5</td><td>58.6</td><td>465.7</td><td>4,207.1</td></tr><tr><td>October</td><td>1,465.6</td><td>487.3</td><td>7.0</td><td>-</td><td>664.3</td><td>59.7</td><td>474.9</td><td>4,221.5</td></tr><tr><td>November</td><td>1,470.3</td><td>485.4</td><td>2.9</td><td>.1</td><td>663.6</td><td>61.7</td><td>485.7</td><td>4,232.7</td></tr><tr><td>December</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td>-</td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1942-January</td><td>1,481.7</td><td>483.9</td><td>8.0</td><td>-</td><td>663.0</td><td>63.2</td><td>493.5</td><td>4,257.1</td></tr><tr><td>February</td><td>1,486.2</td><td>483.4</td><td>10.8</td><td>-</td><td>663.8</td><td>63.7</td><td>494.1</td><td>4,267.5</td></tr><tr><td>March</td><td>1,491.1</td><td>482.7</td><td>11.9</td><td>-</td><td>664.2</td><td>64.4</td><td>496.9</td><td>4,277.8</td></tr><tr><td>April p</td><td>1,496.9</td><td>481.7</td><td>13.1</td><td>-</td><td>662.4</td><td>64.4</td><td>496.9</td><td>4,278.9</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p. Preliminary.
1/ Valued at $1.29+ per ounce. 2/ Valued at $1.38+ per ounce.
Silver of Specified Classifications Acquired by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th colspan="2">Newly mined domestic 1/</th><th colspan="2">Nationalised 2/</th><th colspan="2">Foreign 3/</th><th colspan="2">Total</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</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>-</td><td>-</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.8</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>163.3</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>40.1</td><td>-</td><td>-</td><td>282.8</td><td>120.5</td><td>343.3</td><td>160.6</td></tr><tr><td>1940.</td><td>68.3</td><td>48.5</td><td>-</td><td>-</td><td>139.8</td><td>50.9</td><td>208.0</td><td>99.4</td></tr><tr><td>1941.</td><td>70.5</td><td>50.1</td><td>-</td><td>-</td><td>76.6</td><td>27.1</td><td>143.1</td><td>77.2</td></tr><tr><td>1941-April</td><td>6.3</td><td>4.5</td><td>-</td><td>-</td><td>3.9</td><td>1.4</td><td>10.2</td><td>5.9</td></tr><tr><td>May</td><td>6.5</td><td>4.6</td><td>-</td><td>-</td><td>4.7</td><td>1.7</td><td>11.2</td><td>6.3</td></tr><tr><td>June</td><td>4.3</td><td>3.1</td><td>-</td><td>-</td><td>6.1</td><td>2.3</td><td>10.4</td><td>5.4</td></tr><tr><td>July</td><td>6.5</td><td>4.6</td><td>-</td><td>-</td><td>8.6</td><td>3.2</td><td>15.1</td><td>7.8</td></tr><tr><td>August</td><td>6.7</td><td>4.8</td><td>-</td><td>-</td><td>8.7</td><td>3.3</td><td>15.4</td><td>8.1</td></tr><tr><td>September</td><td>7.2</td><td>5.1</td><td>-</td><td>-</td><td>7.6</td><td>2.9</td><td>14.8</td><td>8.0</td></tr><tr><td>October</td><td>4.6</td><td>3.2</td><td>-</td><td>-</td><td>6.5</td><td>2.6</td><td>11.1</td><td>5.8</td></tr><tr><td>November</td><td>4.5</td><td>3.2</td><td>-</td><td>-</td><td>4.1</td><td>1.6</td><td>8.6</td><td>4.8</td></tr><tr><td>December</td><td>5.8</td><td>4.1</td><td>-</td><td>-</td><td>3.7</td><td>1.5</td><td>9.5</td><td>5.6</td></tr><tr><td>1942-January</td><td>6.0</td><td>4.3</td><td>-</td><td>-</td><td>3.3</td><td>1.4</td><td>9.3</td><td>5.7</td></tr><tr><td>February</td><td>4.7</td><td>3.4</td><td>-</td><td>-</td><td>3.4</td><td>1.4</td><td>8.1</td><td>4.8</td></tr><tr><td>March</td><td>5.1</td><td>3.6</td><td>-</td><td>-</td><td>2.8</td><td>1.2</td><td>7.9</td><td>4.8</td></tr><tr><td>April</td><td>6.4</td><td>4.5</td><td>-</td><td>-</td><td>3.2</td><td>1.4</td><td>9.6</td><td>5.9</td></tr></table>
Acquired at 64.04+ 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 per fine ounce from April 23, 1935 to December 31, 1937; at 64.04+ 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. Executive Proclamation of August 9, 1934, repealed April 28, 1938. 3/ Acquired at various prices averaging approximately 51 cents per ounce.
71
Seigniorage on Silver
(Cumulative from January 1, 1934 - In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Seigniorage on silver and minor coins</th><th colspan="6">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</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>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th></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>132.6</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>274.9</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>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</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>758.8</td></tr><tr><td>1939</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><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942-January</td><td>188.5</td><td>48.7</td><td>87.6</td><td>50.2</td><td>581.3</td><td>34.7</td><td>802.5</td><td>1,094.2</td></tr><tr><td>February</td><td>192.4</td><td>48.7</td><td>87.6</td><td>51.6</td><td>582.1</td><td>34.7</td><td>804.7</td><td>1,096.3</td></tr><tr><td>March</td><td>195.3</td><td>48.7</td><td>87.6</td><td>53.3</td><td>582.9</td><td>34.7</td><td>807.2</td><td>1,097.8</td></tr><tr><td>April</td><td>198.0</td><td>48.7</td><td>87.6</td><td>55.3</td><td>583.8</td><td>34.7</td><td>810.1</td><td>1,096.5</td></tr></table>
Basis: Daily Treasury Statements.
1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential seigniorage thereon changes.
Silver Production, by Leading Countries
(In thousands of fine ounces)
<table><tr><th>Calendar year or month</th><th>Total for world</th><th colspan="5">American countries</th><th colspan="6">All other countries 1/</th></tr><tr><th></th><th></th><th>United States</th><th>Canada 2/</th><th>Mexico</th><th>Peru</th><th>Other</th><th>Total</th><th>Europe</th><th>Oceania</th><th>Japan 3/</th><th>British India 4/</th><th>Other Asia</th><th>Africa</th></tr><tr><td>1933</td><td>169,159</td><td>22,821</td><td>16,395</td><td>68,101</td><td>6,761</td><td>10,819</td><td>44,261</td><td>14,769</td><td>11,553</td><td>6,680</td><td>6,080</td><td>1,103</td><td>4,076</td></tr><tr><td>1934</td><td>190,398</td><td>32,487</td><td>17,565</td><td>74,145</td><td>10,381</td><td>10,091</td><td>45,730</td><td>14,891</td><td>11,257</td><td>7,853</td><td>5,818</td><td>1,179</td><td>4,722</td></tr><tr><td>1935</td><td>220,704</td><td>45,613</td><td>17,743</td><td>75,589</td><td>17,433</td><td>12,788</td><td>51,538</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></tr><tr><td>1936</td><td>253,696</td><td>63,351</td><td>19,584</td><td>77,464</td><td>19,901</td><td>16,539</td><td>56,858</td><td>19,704</td><td>13,194</td><td>11,670</td><td>5,977</td><td>1,733</td><td>4,580</td></tr><tr><td>1937</td><td>274,538</td><td>71,299</td><td>24,131</td><td>84,681</td><td>16,994</td><td>15,708</td><td>61,725</td><td>21,053</td><td>14,903</td><td>12,451</td><td>6,205</td><td>1,913</td><td>5,200</td></tr><tr><td>1938</td><td>267,765</td><td>61,689</td><td>23,826</td><td>81,019</td><td>20,424</td><td>15,869</td><td>64,939</td><td>22,747</td><td>15,043</td><td>13,115</td><td>5,947</td><td>2,451</td><td>5,636</td></tr><tr><td>1939</td><td>265,262</td><td>63,872</td><td>24,538</td><td>75,871</td><td>18,802</td><td>17,497</td><td>64,683</td><td>21,224</td><td>15,417</td><td>14,015</td><td>5,943</td><td>2,670</td><td>5,414</td></tr><tr><td>1940</td><td>273,684</td><td>67,013</td><td>23,816</td><td>82,638</td><td>19,000</td><td>16,925</td><td>64,292</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>264,553 5/</td><td>69,128</td><td>20,340</td><td>78,362</td><td>17,000 5/</td><td>18,262 5/</td><td>61,461 5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-February</td><td>23,208</td><td>6,009</td><td>1,357</td><td>7,792</td><td>1,450</td><td>1,298</td><td>5,302</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March</td><td>22,774</td><td>6,445</td><td>1,802</td><td>6,339</td><td>1,500</td><td>1,374</td><td>5,314</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April</td><td>22,394</td><td>5,484</td><td>1,484</td><td>7,152</td><td>1,300</td><td>1,301</td><td>5,314</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>20,359</td><td>6,465</td><td>1,902</td><td>3,769</td><td>1,600</td><td>1,282</td><td>5,341</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>23,214</td><td>5,047</td><td>2,058</td><td>8,062</td><td>1,400</td><td>1,333</td><td>5,314</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>22,763</td><td>6,310</td><td>1,852</td><td>6,726</td><td>1,200</td><td>1,354</td><td>5,321</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August</td><td>22,607</td><td>6,277</td><td>1,660</td><td>6,878</td><td>1,100</td><td>1,370</td><td>5,322</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September</td><td>21,808</td><td>5,620</td><td>1,625</td><td>6,944</td><td>1,100</td><td>1,387</td><td>5,132</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October</td><td>20,474</td><td>5,087</td><td>1,640</td><td>5,973</td><td>1,200</td><td>1,442</td><td>5,132</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November</td><td>18,352</td><td>4,631</td><td>1,581</td><td>4,429</td><td>1,000</td><td>1,486</td><td>5,125</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December</td><td>21,196</td><td>5,661</td><td>1,722</td><td>5,548</td><td>1,500</td><td>1,640</td><td>5,125</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-January</td><td>21,368</td><td>4,844</td><td>1,538</td><td>7,471</td><td>1,300</td><td>1,590</td><td>4,625</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February</td><td>6/</td><td>4,470</td><td>1,478</td><td>6/</td><td>1,200</td><td>6/</td><td>6/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Annual Reports of the Director of the Mint for annual figures through 1933; releases of American Bureau of Metal Statistics for all later figures. 1/ Breakdown by countries not available after 1939. 2/ Includes Newfoundland.
3/ Includes Chosen and Taiwan.
4/ Includes Burma.
5/ Revised annual total not allocated monthly.
6/ Not yet reported.
OTHER TREASURY STATISTICS
-72-
73
Net Capital Movement to the United States, 1935 through February 1942
In thousands of dollars. Net capital outflow (-)
<table><tr><th>Period</th><th>Net capital movement</th><th colspan="4">Analysis of net capital movement</th></tr><tr><th></th><th></th><th>Movement in short-term banking funds</th><th>Movement in brokerage balances</th><th>Movement in transactions in domestic securities</th><th>Movement in transactions in foreign securities</th></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>1,412,486</td><td>964,629</td><td>6,039</td><td>316,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,195,922</td><td>397,342</td><td>6,811</td><td>600,693</td><td>191,076</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937)</td><td>801,915</td><td>255,594</td><td>34,687</td><td>244,626</td><td>267,008</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>415,256</td><td>331,268</td><td>34</td><td>57,196</td><td>25,758</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940)</td><td>1,195,635</td><td>1,132,383</td><td>32,990</td><td>-85,427</td><td>115,689</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>706,380</td><td>852,928</td><td>20,358</td><td>-245,062</td><td>78,156</td></tr><tr><td>1941 (Jan. 1, 1941-Dec. 31, 1941)</td><td>-496,923</td><td>-286,622</td><td>49</td><td>-261,955</td><td>51,703</td></tr><tr><td>1942 (Jan. 1, 1942-Feb. 25, 1942)</td><td>-161,625</td><td>-162,870</td><td>1,116</td><td>-518</td><td>647</td></tr><tr><td>Total Jan. 2, 1935-Feb. 25, 1942</td><td>5,069,046</td><td>3,484,652</td><td>101,986</td><td>626,213</td><td>856,195</td></tr><tr><td>Month:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-February (Jan. 30-Feb. 26)</td><td>-104,341</td><td>-96,180</td><td>-1,571</td><td>-11,266</td><td>4,676</td></tr><tr><td>March (Feb. 27-Apr. 2)</td><td>30,853</td><td>37,582</td><td>-1,323</td><td>-5,712</td><td>306</td></tr><tr><td>April (Apr. 3-Apr. 30)</td><td>139,460</td><td>139,995</td><td>2,369</td><td>-6,043</td><td>3,139</td></tr><tr><td>May (May 1-May 28)</td><td>-7,057</td><td>5,119</td><td>-694</td><td>-31,229</td><td>19,747</td></tr><tr><td>June (May 29-July 2)</td><td>-60,434</td><td>-49,369</td><td>678</td><td>-10,387</td><td>-1,356</td></tr><tr><td>July (July 3-July 30)</td><td>-68,539</td><td>-67,038</td><td>1,227</td><td>-7,585</td><td>4,857</td></tr><tr><td>August (July 31-Sept. 3)</td><td>-28,601</td><td>-26,042</td><td>1,740</td><td>-7,086</td><td>2,787</td></tr><tr><td>September (Sept. 4-Oct. 1)</td><td>31,980</td><td>25,939</td><td>-288</td><td>6,956</td><td>-627</td></tr><tr><td>October (Oct. 2-Oct. 29)</td><td>-7,036</td><td>-8,728</td><td>-262</td><td>-2,153</td><td>4,107</td></tr><tr><td>November (Oct. 30-Dec. 3)</td><td>-128,919</td><td>-134,220</td><td>387</td><td>-838</td><td>5,752</td></tr><tr><td>December (Dec. 4-Dec. 31)</td><td>-148,628</td><td>-159,300</td><td>-158</td><td>6,238</td><td>4,592</td></tr><tr><td>1942-January (Jan. 1-Jan. 28)</td><td>-66,927</td><td>-74,305</td><td>1,175</td><td>4,264</td><td>1,939</td></tr><tr><td>February (Jan. 29-Feb. 25)</td><td>-94,698</td><td>-88,565</td><td>-59</td><td>-4,782</td><td>-1,292</td></tr><tr><td>Week ended:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-February 4</td><td>-65,552</td><td>-66,173</td><td>22</td><td>-753</td><td>1,352</td></tr><tr><td>11</td><td>-16,582</td><td>-16,683</td><td>125</td><td>-262</td><td>238</td></tr><tr><td>18</td><td>-45,910</td><td>-37,354</td><td>158</td><td>-5,509</td><td>-3,205</td></tr><tr><td>25</td><td>33,346</td><td>31,645</td><td>-364</td><td>1,742</td><td>323</td></tr></table>
Publication of more detailed capital movements data has been suspended for the duration of the war. The latest tabulation by countries and by detailed categories, through December 1941, was published in the "Treasury Bulletin" for March 1942.
COPY No.2
Treas. HJ 10 A2 1942 c.2