Treas. HJ 10 A2 c.2
LIBRARY ROOM 5030
JUN 2.1 1972
TREASURY DEPARTMENT
BULLETIN OF THE TREASURY DEPARTMENT
DECEMBER 1942
Analysis of Receipts and Expenditures Composition of the Public Debt Prices and Yields of Government Securities Other Treasury Statistics
UNITED STATES TREASURY DEPARTMENT OFFICE OF THE SECRETARY
Bulletin of the Treasury Department, December 1942
Cumulative Table of Contents
<table><tr><th></th><th colspan="13">Issue and page number 1942</th></tr><tr><th></th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th></tr><tr><td>I. Summary of fiscal 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>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>2</td></tr><tr><td>Debt outstanding:</td><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 debt</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>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Public debt and guaranteed obligations</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>3</td><td>3</td><td>3</td><td>3</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>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>II. Receipts and expenditures and appropriations</td><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>Appropriations and net contract authorizations for the war activities program as of month-end preceding month of publication</td><td>5-6</td><td>5-6</td><td>5-6</td><td>5-6</td><td>5-6</td><td>5-6</td><td>5</td><td></td><td></td><td></td><td></td><td></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></td><td></td><td></td></tr><tr><td>Summary by major classifications</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>6</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Analysis of receipts from internal revenue</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td><td>6</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Analysis of general expenditures</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>7</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Analysis of expenditures for war activities</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>8</td><td>7</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td><td>8</td><td>7</td><td>7</td><td>7</td><td>7</td><td>7</td></tr><tr><td>Total budget receipts and expenditures, by months, for recent years</td><td>9-10</td><td>9-10</td><td>9-10</td><td>9-10</td><td>9-10</td><td>9-10</td><td>8-9</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td><td>7-8</td></tr><tr><td>Receipts and expenditures for trust accounts, increment on gold, etc.</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>10</td><td>9</td><td>9</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Means of financing cash requirements beginning 1933</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td><td>11</td><td>10</td><td>10</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Social Security program:</td><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 receipts and expenditures:</td><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>Social Security Act</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>13</td><td>12</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Railroad Retirement Act</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>13</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Railroad Unemployment Insurance Act</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>14</td><td>13</td><td>12</td><td>12</td><td>12</td><td>12</td><td>12</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></td><td></td><td></td><td></td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>14</td><td>13</td><td>13</td><td>13</td><td>13</td><td>11</td></tr><tr><td>Railroad Retirement Account</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>14</td><td>13</td><td>13</td><td>13</td><td>13</td><td>12</td></tr><tr><td>Unemployment Trust Fund</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>15</td><td>14</td><td>13</td><td>13</td><td>13</td><td>13</td><td>12</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></td><td></td><td></td><td></td></tr><tr><td>Analysis by major classifications</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>16</td><td>15</td><td>14</td><td>14</td><td>14</td><td>14</td><td>13</td></tr><tr><td>Total cash income and outgo, by months beginning January 1936</td><td>16-17</td><td>16-17</td><td>16-17</td><td>16-17</td><td>16-17</td><td>16-17</td><td>15-16</td><td>14-15</td><td>14-15</td><td>14-15</td><td>14-15</td><td>13-14</td></tr><tr><td>III. General Fund of the Treasury</td><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, liabilities, and balance in General Fund</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>19</td><td>18</td><td>17</td><td>17</td><td>17</td><td>17</td><td>16</td></tr><tr><td>Analysis of changes in balance of General Fund</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>20</td><td>19</td><td>18</td><td>18</td><td>18</td><td>18</td><td>17</td></tr><tr><td>IV. Government securities outstanding</td><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>Comparison of various features of Treasury securities currently offered to the public</td><td>22-23</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 Government interest-bearing public debt outstanding during World War I</td><td>21-22</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>Debt outstanding, classified by type of 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></tr><tr><td>Public debt</td><td>22</td><td>22</td><td>22</td><td>24</td><td>22</td><td>22</td><td>23</td><td>20</td><td>20</td><td>20</td><td>20</td><td>19</td></tr><tr><td>Public debt and guaranteed obligations</td><td>23</td><td>23</td><td>23</td><td>25</td><td>23</td><td>22-23</td><td>23-24</td><td>20-21</td><td>20-21</td><td>20-21</td><td>20-21</td><td>19-20</td></tr><tr><td>Composition of the public debt</td><td>23</td><td>23</td><td>23</td><td>25</td><td>23</td><td>41</td><td>42</td><td>39</td><td>40</td><td>28</td><td>28</td><td>28</td></tr><tr><td>Receipts and expenditures on account of public debt</td><td>24</td><td>24</td><td>24</td><td>26</td><td>24</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Composition of the public debt and guaranteed obligations</td><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>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></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>22</td><td></td><td></td><td></td><td>21</td></tr><tr><td>March 31, 1942</td><td></td><td></td><td></td><td>24</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942</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>September 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>Computed rate of interest on the 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></tr><tr><td>Public debt</td><td>25</td><td>25</td><td>26</td><td>27</td><td>25</td><td>41</td><td>42</td><td>39</td><td>40</td><td>28</td><td>28</td><td>28</td></tr><tr><td>Public debt and guaranteed obligations</td><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>26-27</td><td>26-27</td><td>27-28</td><td>28-29</td><td>26-27</td><td>25-26</td><td>25-26</td><td>22-23</td><td>23-24</td><td>22-23</td><td>22-23</td><td>22-23</td></tr><tr><td>Offerings of marketable issues of Treasury bonds and Treasury notes beginning with:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>53</td><td>52</td><td></td><td></td><td></td></tr><tr><td>January 1, 1938</td><td>28</td><td>28</td><td>29</td><td>30</td><td>28</td><td>27</td><td>27</td><td>24</td><td>25</td><td>24</td><td>24</td><td>24</td></tr><tr><td>January 1, 1939</td><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, December 1942
Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="13">Issue and page number</th></tr><tr><th colspan="13">1942</th></tr><tr><th></th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th></tr><tr><td colspan="14">IV. Government securities outstanding (continued)</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></td><td></td><td>25</td><td>25</td></tr><tr><td>December 1, 1940</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>25</td><td></td><td></td></tr><tr><td>January 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>25</td><td>26</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></td><td></td><td></td><td></td><td></td><td></td><td>28</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>28</td><td></td><td></td><td></td><td></td></tr><tr><td>May 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td>29</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 1, 1941</td><td></td><td></td><td></td><td>31</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 1, 1941</td><td></td><td></td><td>30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 1, 1941</td><td></td><td>29</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 1, 1941</td><td>29</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>October 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>November 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>Sales of United States savings bonds:</td><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>30-31</td><td>30-31</td><td>31-32</td><td>32-33</td><td>30-31</td><td>29-30</td><td>29-30</td><td>26-27</td><td>27-28</td><td></td><td>26</td><td>26</td></tr><tr><td>Sales reported by series, classified by denomination</td><td>32</td><td>32</td><td>33</td><td>34</td><td>32</td><td>31</td><td>31</td><td>28</td><td>29</td><td>26</td><td></td><td></td></tr><tr><td>Sales reported by series, classified by type of purchaser</td><td></td><td></td><td>34</td><td>35</td><td>33</td><td>32</td><td>32</td><td>29</td><td>30</td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by States</td><td>33-34</td><td>33-34</td><td>35-36</td><td>36-37</td><td>34-35</td><td>33-34</td><td>33-35</td><td>30-32</td><td>31-33</td><td></td><td></td><td></td></tr><tr><td>Participation in payroll savings plans for war savings bonds</td><td>35</td><td>35</td><td>37</td><td>38</td><td>36</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales of United States savings stamps:</td><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>36</td><td>36</td><td>38</td><td>39</td><td>37</td><td>35</td><td>36</td><td>33</td><td>34</td><td></td><td></td><td></td></tr><tr><td>Cross sales, classified by denomination</td><td>36</td><td>36</td><td>38</td><td>39</td><td>37</td><td>35</td><td>36</td><td>33</td><td>34</td><td></td><td></td><td></td></tr><tr><td>Redemptions, classified by means of payment</td><td>36</td><td>36</td><td>38</td><td>39</td><td>37</td><td>35</td><td>36</td><td>33</td><td>34</td><td></td><td></td><td></td></tr><tr><td>Cross sales, classified by States</td><td>37</td><td>37</td><td>39</td><td>40</td><td>38</td><td>36</td><td>37</td><td>34</td><td>35</td><td></td><td></td><td></td></tr><tr><td>Sales of tax series Treasury notes:</td><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>38</td><td>38</td><td>40</td><td>41</td><td>39</td><td>37</td><td>38</td><td>35</td><td>36</td><td></td><td></td><td></td></tr><tr><td>Sales reported by series, classified by denomination</td><td>39</td><td>39</td><td>41</td><td>42</td><td>40</td><td>38</td><td>39</td><td>36</td><td>37</td><td>27</td><td>27</td><td>27</td></tr><tr><td>Sales reported by series, classified by type of purchaser</td><td>40</td><td>40</td><td>42</td><td>43</td><td>41</td><td>39</td><td>40</td><td>37</td><td>38</td><td></td><td></td><td></td></tr><tr><td>Redemptions by series, classified by means of payment</td><td>41</td><td>41</td><td>43</td><td>44</td><td>42</td><td>40</td><td>41</td><td>38</td><td>39</td><td></td><td></td><td></td></tr><tr><td colspan="14">V. Ownership of Government securities</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td>30</td><td></td></tr><tr><td>Summary distribution, by holders, of securities issued or guaranteed by the United States</td><td>43</td><td>43</td><td>45</td><td>46</td><td>44</td><td>43</td><td>44</td><td>41</td><td>42</td><td>30</td><td>31</td><td>30</td></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937</td><td>43</td><td>43</td><td>45</td><td>46</td><td>44</td><td>43</td><td>44</td><td>41</td><td>42</td><td>30</td><td>31</td><td>30</td></tr><tr><td>Summary data 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></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>31-36</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>31-36</td><td>32-37</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td>43-48</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>42-47</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1942</td><td></td><td></td><td></td><td></td><td>44-49</td><td>45-50</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1942</td><td></td><td></td><td></td><td></td><td></td><td>44-49</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942</td><td></td><td></td><td></td><td>47-52</td><td>45-50</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 31, 1942</td><td></td><td>46-51</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, 1942</td><td>44-49</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>September 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>October 31, 1942</td><td>44-49</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="14">VI. Prices and yields of Government securities (including securities issued by Federal agencies)</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:</td><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>The 15th of the month of publication</td><td>51-53</td><td>53-55</td><td>54-56</td><td>52-54</td><td>51-53</td><td>52-54</td><td>49-51</td><td>50-52</td><td>38-40</td><td>39-41</td><td>38-40</td><td></td></tr><tr><td>The month-and preceding month of publication</td><td>51-53</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>Chart showing yields of individual issues of Treasury bonds and notes</td><td>54</td><td>54</td><td>56</td><td>57</td><td>55</td><td>54</td><td>55</td><td>52</td><td>53</td><td>41</td><td>42</td><td>41</td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds:</td><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>Beginning with January 1933</td><td>55-56</td><td>55-56</td><td>57-58</td><td>58-59</td><td>56-57</td><td>55-56</td><td>56-57</td><td>53-54</td><td>54-55</td><td>42-43</td><td>43-44</td><td>42-43</td></tr><tr><td>Beginning with January 1934</td><td>55-56</td><td>55-56</td><td>57-58</td><td>58-59</td><td>56-57</td><td>55-56</td><td>56-57</td><td>53-54</td><td>54-55</td><td>42-43</td><td>43-44</td><td></td></tr><tr><td colspan="14">VII. Government corporations and credit agencies of the United States</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></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>45-46</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>46-47</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>45-46</td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1942</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-58</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>56-57</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1942</td><td></td><td></td><td></td><td></td><td></td><td>59-60</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, December 1942 Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="11">Issue and page number</th></tr><tr><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th></tr><tr><td colspan="13">VII. Government corporations and credit agencies of the United States (continued)</td></tr><tr><td>Assets and liabilities and proprietary interest: (continued)</td><td></td><td></td><td></td><td></td><td>58-59</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1942</td><td></td><td></td><td></td><td>59-60</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942</td><td></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></tr><tr><td>July 31, 1942</td><td></td><td>60-61</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, 1942</td><td>58-59</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>September 30, 1942</td><td>58-59</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>October 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>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>60-61</td><td>60-61</td><td>62-63</td><td>63-64</td><td>61-62</td><td>60-61</td><td>61-62</td><td>58-59</td><td>59-60</td><td>47-48</td><td>48-49</td><td>47-48</td></tr><tr><td>From inception of organization</td><td>62-63</td><td>62-63</td><td>64-65</td><td>65-66</td><td>63-64</td><td>62-63</td><td>63-64</td><td>60-61</td><td>61-62</td><td>49-50</td><td>50-51</td><td>49-50</td></tr><tr><td>Amount of obligations outstanding guaranteed by the United States, by agencies</td><td>22</td><td>22</td><td>22</td><td>24</td><td>22</td><td>64</td><td>65</td><td>62</td><td>63</td><td>51</td><td>52</td><td>51</td></tr><tr><td>Financing operations in securities guaranteed by the United States, beginning with 1934</td><td></td><td></td><td></td><td></td><td></td><td>64</td><td>65</td><td>62</td><td>63</td><td>51</td><td>52</td><td>51</td></tr><tr><td>Maturity schedule of securities guaranteed by the United States, as of month-and preceding month of publication</td><td>26-27</td><td>26-27</td><td>27-28</td><td>28-29</td><td>26-27</td><td>25-26</td><td>25-26</td><td>22-23</td><td>23-24</td><td>22-23</td><td>53</td><td>52</td></tr><tr><td colspan="13">VIII. Internal revenue statistics</td></tr><tr><td>Collections of internal revenue:</td><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 data</td><td>65-66</td><td>65-66</td><td>67-68</td><td>68-69</td><td>66-67</td><td>66-67</td><td>67-68</td><td>64-65</td><td>65-66</td><td>53-54</td><td>55-56</td><td>54-55</td></tr><tr><td>Comparative details for current periods</td><td>67</td><td>67</td><td>69</td><td>70</td><td>68</td><td>68</td><td>69</td><td>66</td><td>67</td><td>55</td><td>57</td><td>56</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>68-71</td><td></td><td></td><td></td></tr><tr><td>Preliminary analysis of taxable excise profits tax returns for 1941 filed through July 31, 1942</td><td></td><td></td><td></td><td>71-73</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">IX. Gold and silver statistics</td></tr><tr><td>Gold assets and liabilities of the Treasury</td><td>69</td><td>69</td><td>71</td><td>75</td><td>70</td><td>70</td><td>71</td><td>68</td><td>73</td><td>77</td><td>77</td><td>76</td></tr><tr><td>Increment from reduction in weight of gold dollar, cumulative to: December 31, 1941</td><td></td><td></td><td></td><td></td><td>70</td><td></td><td></td><td>68</td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942</td><td></td><td>69</td><td></td><td></td><td></td><td>70</td><td></td><td>68</td><td></td><td></td><td>77</td><td></td></tr><tr><td>September 30, 1942</td><td></td><td>69</td><td>71-72</td><td>75-76</td><td>70-71</td><td>70-71</td><td>71-72</td><td>68-69</td><td>73-74</td><td>77-78</td><td>77-78</td><td>76-77</td></tr><tr><td>Treasury gold receipts, for recent quarterly periods</td><td>69-70</td><td>69-70</td><td>71-72</td><td>75-76</td><td>70-71</td><td>70-71</td><td>71-72</td><td>70</td><td>75</td><td>79</td><td>79</td><td>78</td></tr><tr><td>Monetary stocks of gold and silver</td><td>71</td><td>71</td><td>73</td><td>77</td><td>72</td><td>72</td><td>73</td><td>70</td><td>75</td><td>79</td><td>79</td><td>78</td></tr><tr><td>Components of silver monetary stock</td><td>71</td><td>71</td><td>73</td><td>77</td><td>72</td><td>72</td><td>73</td><td>70</td><td>75</td><td>79</td><td>79</td><td>78</td></tr><tr><td>Silver of specified classifications acquired by mints and assay offices</td><td>72</td><td>72</td><td>74</td><td>78</td><td>73</td><td>73</td><td>74</td><td>71</td><td>76</td><td>80</td><td>80</td><td>79</td></tr><tr><td>Seigniorage on silver, by types</td><td>72</td><td>72</td><td>74</td><td>78</td><td>73</td><td>73</td><td>74</td><td>71</td><td>76</td><td>80</td><td>80</td><td>79</td></tr><tr><td>Silver production, by countries</td><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">X. Other Treasury statistics</td></tr><tr><td>Balance sheet of the Exchange Stabilization Fund: September 30, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>78-79</td><td></td><td></td><td>81-82</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>March 31, 1942</td><td></td><td></td><td>76-77</td><td></td><td>75-76</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 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>Capital movements between the United States and foreign countries:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>61-62</td><td></td><td></td></tr><tr><td>Summary tables for the calendar year 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>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>76</td><td>74</td><td>78</td><td>80</td><td>75</td><td>77</td><td>76</td><td>73</td><td>80</td><td>63-64</td><td>63-64</td><td>62-63</td></tr><tr><td>Details by weeks</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>65-68</td><td>65-68</td><td>64-67</td></tr><tr><td>Short-term foreign liabilities and assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>69-70</td><td>69-70</td><td>68-69</td></tr><tr><td>Foreign security transactions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>70</td><td>70</td><td>69</td></tr><tr><td>Foreign balances in brokerage accounts</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>71</td><td>71</td><td>70</td></tr><tr><td>Security transactions in joint foreign arbitrage accounts</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>72-73</td><td>72-73</td><td>71-72</td></tr><tr><td>Foreign transactions in domestic securities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>74-75</td><td>74-75</td><td>73-74</td></tr><tr><td>Foreign exchange transactions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>75</td><td>75</td><td>74</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>Customs statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>57-59</td><td>59-61</td><td>58-60</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></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Individual income tax rates and tax liability in the United States, United Kingdom, and Canada</td><td>74-75</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>Individual income tax rates in the United States, selected taxable years, 1918-1942</td><td>75</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>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>82</td><td>83</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 total shown.
SUMMARY OF FISCAL STATISTICS
1
2
Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th></th><th colspan="4">First 5 months, fiscal years 1941 to 1943</th><th colspan="6">Complete fiscal years, 1939 to 1943</th></tr><tr><th></th><th>1941</th><th>1942</th><th>1943</th><th>Change 1942 to 1943</th><th>1939</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>Change Actual 1941 to actual 1942</th><th>Change Actual 1942 to estimated 1943 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></tr><tr><td>Internal revenue:</td><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>612</td><td>1,057</td><td>2,959</td><td>+1,902</td><td>2,189</td><td>2,125</td><td>3,470</td><td>7,960</td><td>12,031</td><td>+4,490</td><td>+4,071</td></tr><tr><td>Employment taxes</td><td>382</td><td>485</td><td>621</td><td>+136</td><td>740</td><td>833</td><td>925</td><td>1,186</td><td>1,830</td><td>+261</td><td>+644</td></tr><tr><td>Miscellaneous internal revenue 3/</td><td>1,285</td><td>1,548</td><td>1,774</td><td>+226</td><td>2,232</td><td>2,345</td><td>2,967</td><td>3,847</td><td>3,959</td><td>+880</td><td>+112</td></tr><tr><td>Customs</td><td>129</td><td>171</td><td>114</td><td>-57</td><td>319</td><td>349</td><td>392</td><td>389</td><td>245</td><td>-3</td><td>-144</td></tr><tr><td>Other receipts</td><td>87</td><td>103</td><td>128</td><td>+25</td><td>188</td><td>273</td><td>515</td><td>286</td><td>294</td><td>-229</td><td>+8</td></tr><tr><td>Receipts from new tax legislation</td><td>-</td><td>-</td><td>4/</td><td>4/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,000</td><td>-</td><td>+4,000</td></tr><tr><td>Total receipts</td><td>2,495</td><td>3,364</td><td>5,596</td><td>+2,232</td><td>5,668</td><td>5,925</td><td>8,269</td><td>13,668</td><td>22,359</td><td>+5,399</td><td>+8,691</td></tr><tr><td>Less amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 5/</td><td>310</td><td>411</td><td>528</td><td>+117</td><td>503</td><td>538</td><td>661</td><td>869</td><td>1,441</td><td>+208</td><td>+572</td></tr><tr><td>Net receipts</td><td>2,184</td><td>2,954</td><td>5,069</td><td>+2,115</td><td>5,165</td><td>5,387</td><td>7,607</td><td>12,799</td><td>20,918</td><td>+5,192</td><td>+8,119</td></tr><tr><td>Expenditures: 6/</td><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></tr><tr><td>War Department</td><td>595</td><td>3,464</td><td>16,210</td><td>+12,746</td><td>490</td><td>667</td><td>3,678</td><td>14,070</td><td></td><td>+10,392</td><td></td></tr><tr><td>Navy Department</td><td>680</td><td>2,217</td><td>6,847</td><td>+4,630</td><td>673</td><td>891</td><td>2,313</td><td>8,580</td><td>1/</td><td>+6,267</td><td>1/</td></tr><tr><td>Miscellaneous war activities</td><td>92</td><td>734</td><td>3,232</td><td>+2,498</td><td>44</td><td>99</td><td>310</td><td>3,362</td><td></td><td>+3,052</td><td></td></tr><tr><td>Total war activities</td><td>1,367</td><td>6,415</td><td>26,289</td><td>+19,874</td><td>1,206</td><td>1,657</td><td>6,301</td><td>26,011</td><td>74,000</td><td>+19,710</td><td>+47,989</td></tr><tr><td>Veterans' Administration 8/</td><td>231</td><td>232</td><td>255</td><td>+23</td><td>557</td><td>557</td><td>563</td><td>556</td><td>595</td><td>-7</td><td>+39</td></tr><tr><td>Public Works 2/</td><td>379</td><td>310</td><td>262</td><td>-48</td><td>1,000</td><td>950</td><td>738</td><td>680</td><td>555</td><td>-58</td><td>-125</td></tr><tr><td>Aid to agriculture 10/</td><td>343</td><td>443</td><td>414</td><td>-29</td><td>1,228</td><td>1,599</td><td>937 11/</td><td>1,225</td><td>985</td><td>+290</td><td>-240</td></tr><tr><td>Social Security program 12/</td><td>288</td><td>318</td><td>399</td><td>+81</td><td>454</td><td>513</td><td>588</td><td>659</td><td>741</td><td>+71</td><td>+82</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></tr><tr><td>Work Projects Administration and National Youth Administration 13/</td><td>574</td><td>440</td><td>191</td><td>-249</td><td>2,240</td><td>1,572</td><td>1,374</td><td>970</td><td>321 x</td><td>-404</td><td>-649 x</td></tr><tr><td>Federal Emergency Relief Administration and Civil Works Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Civilian Conservation Corps</td><td>114</td><td>88</td><td>13</td><td>-75</td><td>290</td><td>283</td><td>257</td><td>163</td><td>35 r 14/</td><td>-94</td><td>-128 r</td></tr><tr><td>Interest on the public debt</td><td>272</td><td>293</td><td>365</td><td>+72</td><td>941</td><td>1,041</td><td>1,111</td><td>1,260</td><td>1,850</td><td>+149</td><td>+590</td></tr><tr><td>Other 15/</td><td>403</td><td>402</td><td>418</td><td>+16</td><td>789</td><td>866</td><td>841</td><td>873</td><td>963</td><td>+32</td><td>+90</td></tr><tr><td>Total expenditures 6/</td><td>3,969</td><td>8,941</td><td>28,607</td><td>+19,666</td><td>8,707</td><td>8,998</td><td>12,711</td><td>32,397</td><td>80,044</td><td>+19,686</td><td>+47,647</td></tr><tr><td>Net budget deficit 6/</td><td>1,785</td><td>5,988</td><td>23,538</td><td>+17,550</td><td>3,542</td><td>3,611</td><td>5,103</td><td>19,598</td><td>59,126</td><td>+14,495</td><td>+39,528</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Revised budget estimates as of October 3, 1942. These estimates were made prior to final enactment of the Revenue Act of 1942. Includes unjust enrichment tax.
2/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.
3/ Actual receipts from new tax legislation are classified by kind of receipt.
4/ For explanations, see tables in next chapter on Social Security program.
5/ Excludes expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
6/ Revised budget estimates of October 3 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 and the National Service Life Insurance Fund.
9/ Includes Public Works transactions classified as Revolving Funds (net). 
10/ 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. 
11/ Represents gross expenditures of $1,252 millions less repayments of U. S. investments in capital funds aggregating $315 millions. 
12/ Includes expenditures classified as transfers to trust accounts, etc. for the Railroad Retirement Account and the Railroad Unemployment Insurance Administration Fund. 
13/ Beginning July 1942 expenditures for National Youth Administration are shown under War activities. 
14/ This estimate is shown in the budget as "Aids to Youth". 
15/ Includes departmental expenditures not otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
3
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">End of first 5 months fiscal years 1941 to 1943</th><th colspan="7">End of fiscal years, 1939 to 1943</th></tr><tr><th></th><th>Nov. 30, 1940</th><th>Nov. 30, 1941</th><th>Nov. 30, 1942</th><th>Change Nov. 30, 1941 to Nov. 30, 1942</th><th colspan="3">Actual</th><th>Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></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, 1941 to actual June 30, 1942</th><th>Actual June 30, 1942 to estimated June 30, 1943</th></tr><tr><td>Securities issued by 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></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></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></tr><tr><td>Marketable</td><td>35,124</td><td>39,677</td><td>66,554</td><td>+26,877</td><td>33,965</td><td>34,436</td><td>37,713</td><td>50,573</td><td>2/</td><td>+12,860</td><td>2/</td></tr><tr><td>Non-marketable</td><td>3,374</td><td>8,052</td><td>20,117</td><td>+12,065</td><td>2,151</td><td>3,166</td><td>4,555</td><td>13,510</td><td>2/</td><td>+8,955</td><td>2/</td></tr><tr><td>Total public issues</td><td>38,498</td><td>47,729</td><td>86,671</td><td>+38,942</td><td>36,116</td><td>37,602</td><td>42,267</td><td>64,083</td><td>2/</td><td>+21,816</td><td>2/</td></tr><tr><td>Special issues</td><td>5,209</td><td>6,806</td><td>8,781</td><td>+1,981</td><td>3,770</td><td>4,775</td><td>6,120</td><td>7,885</td><td>2/</td><td>+1,765</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>43,707</td><td>54,536</td><td>95,458</td><td>+40,922</td><td>39,886</td><td>42,376</td><td>48,387</td><td>71,968</td><td>2/</td><td>+23,581</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>566</td><td>504</td><td>657</td><td>+153</td><td>554</td><td>591</td><td>574</td><td>454</td><td>2/</td><td>-120</td><td>2/</td></tr><tr><td>Total public debt outstanding</td><td>44,273</td><td>55,040</td><td>96,116</td><td>+41,076</td><td>40,440</td><td>42,968</td><td>48,961</td><td>72,422</td><td>136,051</td><td>+23,461</td><td>+63,629</td></tr><tr><td>Securities guaranteed by the United States 3/</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>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></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></tr><tr><td>Marketable</td><td>5,901</td><td>6,316</td><td>4,195</td><td>-2,121</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>2/</td><td>-1,811</td><td>2/</td></tr><tr><td>Non-marketable</td><td>-</td><td>-</td><td>48</td><td>+48</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2/</td><td>-</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>5,901</td><td>6,316</td><td>4,244</td><td>-2,072</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>2/</td><td>-1,811</td><td>2/</td></tr><tr><td>Matured debt</td><td>18</td><td>8</td><td>20</td><td>+12</td><td>1</td><td>31</td><td>11</td><td>20</td><td>2/</td><td>+9</td><td>2/</td></tr><tr><td>Total guaranteed securities outstanding</td><td>5,919</td><td>6,324</td><td>4,264</td><td>-2,060</td><td>5,451</td><td>5,529</td><td>6,370</td><td>4,568</td><td>4,000</td><td>-1,802</td><td>-568</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>50,192</td><td>61,364</td><td>100,379</td><td>+39,015</td><td>45,890</td><td>48,496</td><td>55,332</td><td>76,991</td><td>140,051</td><td>+21,659</td><td>+63,060</td></tr></table>
Source: Daily Treasury Statement, except as noted. 1/ Based upon Budget estimates revised as of October 3, 1942. 2/ Details not available.
3/ Excludes guaranteed securities which were sold directly to the Treasury.
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th>-</th><th colspan="3">First 5 months fiscal years 1941 to 1943</th><th colspan="5">Complete fiscal years, 1939 to 1943</th></tr><tr><th></th><th>1941</th><th>1942</th><th>1943</th><th colspan="4">Actual</th><th>Estimated 1/</th></tr><tr><th></th><th></th><th></th><th></th><th>1939</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th></tr><tr><td>Amount required to be financed:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net budget deficit 2/.</td><td>1,785</td><td>5,988</td><td>23,538</td><td>3,542</td><td>3,611</td><td>5,103</td><td>19,598</td><td>59,126</td></tr><tr><td>Net increase in General Fund balance....</td><td>-</td><td>-</td><td>91</td><td>622</td><td>-</td><td>742</td><td>358</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, increment on gold, etc. 3/.</td><td>-</td><td>404</td><td>64</td><td>-</td><td>-</td><td>148</td><td>3,506</td><td>1,502</td></tr><tr><td>Total amount required to be financed....</td><td>1,785</td><td>6,392</td><td>23,693</td><td>4,164</td><td>3,611</td><td>5,994</td><td>23,461</td><td>63,629</td></tr><tr><td>Means of financing:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Increase in public debt.</td><td>1,305</td><td>6,078</td><td>23,693</td><td>3,275</td><td>2,528</td><td>5,994</td><td>23,461</td><td>53,629</td></tr><tr><td>Net decrease in General Fund balance....</td><td>74</td><td>314</td><td>-</td><td>-</td><td>947</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/.</td><td>406</td><td>-</td><td>-</td><td>890</td><td>136</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed.</td><td>1,785</td><td>6,392</td><td>23,693</td><td>4,164</td><td>3,611</td><td>5,994</td><td>23,461</td><td>63,629</td></tr></table>
Source: Daily Treasury Statements. 1/ Based upon Budget estimates revised as of October 3, 1942. 2/ Excludes amounts for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
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 AND APPROPRIATIONS
— 4 —
5
Appropriations and Net Contract Authorizations for the War Activities Program As of November 30, 1942 1/
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations 2/</th></tr><tr><td colspan="5">76th Congress, Third Session</td></tr><tr><td>Mar. 25, 1940</td><td>442</td><td>Treasury Department Appropriation Act, 1941.</td><td>$ 53,965,035</td><td>-</td></tr><tr><td>Apr. 18, 1940</td><td>459</td><td>Independent Offices Appropriation Act, 1941.</td><td>149,500,000</td><td>-</td></tr><tr><td>May 14, 1940</td><td>508</td><td>Department of Justice Appropriation Act, 1941 (Title III).</td><td>2,488,000</td><td>-</td></tr><tr><td>June 11, 1940</td><td>588</td><td>Navy Department Appropriation Act, 1941.</td><td>1,308,171,138</td><td>-</td></tr><tr><td>June 13, 1940</td><td>611</td><td>Military Appropriation Act, 1941.</td><td>1,499,323,322</td><td>-</td></tr><tr><td>June 18, 1940</td><td>640</td><td>Interior Department Appropriation Act, 1941.</td><td>495,000</td><td>-</td></tr><tr><td>June 24, 1940</td><td>653</td><td>War Department Civil Appropriation Act, 1941.</td><td>15,000,000</td><td>-</td></tr><tr><td>June 26, 1940</td><td>667</td><td>Civil Activities National Defence Appropriation Act. 1941.</td><td>1,474,901,057</td><td>-</td></tr><tr><td>June 26, 1940</td><td>88 3/</td><td>Emergency Relief Appropriation Act, 1941 (Refugees Relief).</td><td>50,000,000</td><td>-</td></tr><tr><td>June 27, 1940</td><td>668</td><td>Second Deficiency Appropriation Act, 1940.</td><td>17,656,900</td><td>-</td></tr><tr><td>July 18, 1940</td><td>94 3/</td><td>Public Resolution (War Risk Insurance Fund).</td><td>40,000,000</td><td>-</td></tr><tr><td>July 19, 1940</td><td>757</td><td>Public Law (Naval expansion program).</td><td>-</td><td>$ 2,874,327,373 r</td></tr><tr><td>Sep. 9, 1940</td><td>781</td><td>Second Supplemental National Defence Appropriation Act, 1941.</td><td>2,497,016,392</td><td>47,000,000 y</td></tr><tr><td>Sep.24, 1940</td><td>99 3/</td><td>Public Resolution (War Department - Military Posts and Acquisition of Land).</td><td>338,263,902</td><td>-</td></tr><tr><td>Oct. 8, 1940</td><td>800</td><td>Third Supplemental National Defence Appropriation Act, 1941.</td><td>1,323,414,082</td><td>-</td></tr><tr><td>Oct. 9, 1940</td><td>812</td><td>First Supplemental Civil Functions Appropriation Act, 1941.</td><td>148,821,000</td><td>-</td></tr><tr><td>Oct. 14, 1940</td><td>106 3/</td><td>Public Resolution (National Defense Housing).</td><td>75,000,000</td><td>-</td></tr><tr><td></td><td>Total. 76th Congress, Third Session.</td><td></td><td>$ 8,994,015,828</td><td>$ 2,921,327,373 r</td></tr></table>
77th Congress. First Session
<table><tr><td>Jan. 31, 1941</td><td>4</td><td>Public Law (Naval expansion program)</td><td>-</td><td>$ 400,000,000</td></tr><tr><td>Feb. 6, 1941</td><td>5</td><td>Joint Resolution (Emergency Ship Construction)</td><td>$ 313,500,000</td><td>-</td></tr><tr><td>Feb. 13, 1941</td><td>6</td><td>Joint Resolution (Clothing and Equipage - War Department)</td><td>175,000,000</td><td>-</td></tr><tr><td>Mar. 1, 1941</td><td>9</td><td>Urgent Deficiency Appropriation Act, 1941</td><td>6,047,775</td><td>-</td></tr><tr><td>Mar. 17, 1941</td><td>13</td><td>Fourth Supplemental National Defense Appropriation Act, 1941</td><td>1,376,464,602</td><td>58,000,000</td></tr><tr><td>Mar. 27, 1941</td><td>23</td><td>Defense Aid Supplemental Appropriation Act, 1941</td><td>7,000,000,000</td><td>-</td></tr><tr><td>Apr. 1, 1941</td><td>25</td><td>First Deficiency Appropriation Act, 1941</td><td>114,458,468</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>28</td><td>Independent Offices Appropriation Act, 1942</td><td>399,360,000</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>29</td><td>Fifth Supplemental National Defense Appropriation Act, 1941</td><td>2,293,227,920</td><td>-</td></tr><tr><td>May 6, 1941</td><td>48</td><td>Navy Department Appropriation Act, 1942</td><td>3,415,521,750</td><td>-</td></tr><tr><td>May 23, 1941</td><td>71</td><td>War Department Civil Appropriation Act, 1942</td><td>37,920,370</td><td>45,596,528</td></tr><tr><td>May 24, 1941</td><td>73</td><td>Additional Urgent Deficiency Appropriation Act, 1941</td><td>168,556,000</td><td>-</td></tr><tr><td>May 31, 1941</td><td>88</td><td>Treasury Department Appropriation Act, 1942</td><td>62,193,150</td><td>-</td></tr><tr><td>June 28, 1941</td><td>135</td><td>Department of Justice, Judicial, State and Commerce Appropriation Act, 1942</td><td>129,227,750</td><td>-</td></tr><tr><td>June 28, 1941</td><td>136</td><td>Interior Department Appropriation Act, 1942</td><td>2,035,000</td><td>-</td></tr><tr><td>June 30, 1941</td><td>139</td><td>Military Appropriation Act, 1942</td><td>10,384,821,624</td><td>-</td></tr><tr><td>July 1, 1941</td><td>146</td><td>Labor - Federal Security Appropriation Act, 1942</td><td>173,168,500</td><td>-</td></tr><tr><td>July 3, 1941</td><td>150</td><td>Second Deficiency Appropriation Act, 1941</td><td>998,894,561</td><td>-</td></tr><tr><td>Aug. 25, 1941</td><td>247</td><td>First Supplemental National Defense Appropriation Act, 1942</td><td>6,580,012,448</td><td>-</td></tr><tr><td>Oct. 28, 1941</td><td>282</td><td>Second Supplemental National Defense Appropriation Act, 1942: (Title I). (Title II).</td><td>5,985,000,000 159,005,585</td><td>- -</td></tr><tr><td>Dec. 17, 1941</td><td>353</td><td>Third Supplemental National Defense Appropriation Act, 1942</td><td>9,112,021,947</td><td>244,000,000</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Joint Resolution (War, Philippine Relief, and Defense Housing)</td><td>510,000,000</td><td>-</td></tr><tr><td></td><td>Total, 77th Congress, First Session</td><td></td><td>$49,396,437,450</td><td>$ 747,596,528 r</td></tr></table>
(Continued on following page)
6
Appropriations and Net Contract Authorizations for the War Activities Program As of November 30, 1942 1/-(Continued)
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorizations 2/</th></tr><tr><td colspan="5">77th Congress, Second Session</td></tr><tr><td>Jan. 30, 1942</td><td>422</td><td>Fourth Supplemental National Defense Appropriation Act, 1942</td><td>$ 12,525,872,474</td><td></td></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>Naval Appropriation Act, 1943 5/</td><td>23,738,865,474</td><td>$ 4,670,000,000 4/</td></tr><tr><td>Feb. 12, 1942</td><td>452</td><td>Joint Resolution (Financial Aid to China)</td><td>500,000,000</td><td>-</td></tr><tr><td>Feb. 21, 1942</td><td>463</td><td>First Deficiency Appropriation Act, 1942</td><td>134,704,662</td><td>-</td></tr><tr><td>Mar. 5, 1942</td><td>474</td><td>Fifth Supplemental National Defense Appropriation Act, 1942</td><td>30,412,737,900</td><td>2,298,925,617 r</td></tr><tr><td>Apr. 28, 1942</td><td>527</td><td>War Department Civil Appropriation Act, 1943</td><td>57,886,985</td><td>-</td></tr><tr><td>Apr. 28, 1942</td><td>528</td><td>Sixth Supplemental National Defense Appropriation Act, 1942</td><td>18,932,124,093</td><td>150,400,000 4/</td></tr><tr><td>June 5, 1942</td><td>572</td><td>Joint Resolution (War Risk Insurance Fund)</td><td>210,000,000</td><td>-</td></tr><tr><td>June 19, 1942</td><td>616</td><td>Joint Resolution (Education and Training)</td><td>9,500,000</td><td>-</td></tr><tr><td>June 23, 1942</td><td>626</td><td>Seventh Supplemental National Defense Appropriation Act, 1942 6/</td><td>655,074,740</td><td>3,112,500,000 4/</td></tr><tr><td>June 27, 1942</td><td>630</td><td>Independent Offices Appropriation Act, 1943</td><td>1,052,812,004</td><td>90,000,000</td></tr><tr><td>July 2, 1942</td><td>644</td><td>Department of Justice, Judicial, State and Commerce Appropriation Act, 1943</td><td>261,961,180</td><td>-</td></tr><tr><td>July 2, 1942</td><td>645</td><td>Department of the Interior Appropriation Act, 1943</td><td>8,977,370</td><td>-</td></tr><tr><td>July 2, 1942</td><td>646</td><td>Public Law (Federal Works Agency - Public Roads)</td><td>-</td><td>110,000,000</td></tr><tr><td>July 2, 1942</td><td>647</td><td>Labor-Federal Security Appropriation Act, 1943</td><td>227,726,864 r</td><td>-</td></tr><tr><td>July 2, 1942</td><td>648</td><td>Second Deficiency Appropriation Act, 1942</td><td>10,415,078</td><td>-</td></tr><tr><td>July 2, 1942</td><td>649</td><td>Military Appropriation Act, 1943</td><td>42,820,003,067</td><td>-</td></tr><tr><td>July 2, 1942</td><td>650</td><td>War Housing and Public Works Appropriation Act, 1942</td><td>32,500,000</td><td>-</td></tr><tr><td>July 25, 1942</td><td>678</td><td>First Supplemental National Defense Appropriation Act, 1943</td><td>1,845,234,990</td><td>-</td></tr><tr><td>Aug. 6, 1942</td><td>700</td><td>Public Law (Public works-Navy)</td><td>-</td><td>974,634,000</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943 7/</td><td>6,299,361,448</td><td>9,510,000,000 4/</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session</td><td>$139,735,758,329 r</td><td>$20,916,459,617 r</td></tr><tr><td colspan="5">Summary</td></tr><tr><td></td><td>Total, 76th Congress, Third Session</td><td></td><td>$ 8,994,015,828</td><td>$ 2,921,327,373 r</td></tr><tr><td></td><td>Total, 77th Congress, First Session</td><td></td><td>49,396,437,450</td><td>747,596,528 r</td></tr><tr><td></td><td>Total, 77th Congress, Second Session</td><td></td><td>139,735,758,329 r</td><td>20,916,459,617 r</td></tr><tr><td></td><td>Permanent appropriations 8/</td><td></td><td>39,103,365 r</td><td>-</td></tr><tr><td></td><td>Net transfers from other than war activities appropriations 9/</td><td></td><td>37,369,133 r</td><td>-</td></tr><tr><td></td><td>Total</td><td></td><td>$198,202,684,104 r</td><td>$24,585,383,518 r</td></tr><tr><td></td><td>Liquidations of 1940 and prior contract authorizations</td><td></td><td>-467,872,846</td><td>-</td></tr><tr><td></td><td>Total approved</td><td></td><td>$197,734,811,258 r</td><td>$24,585,383,518 r</td></tr></table>
Revised.
1/ Consists of appropriations and net contract authorizations available on and after July 1, 1940. Does not include authorizations of the Reconstruction Finance Corporation and its subsidiaries for war purposes.
2/ Contract authorizations have been reduced by later appropriations which were earmarked in authorizing acts for this purpose.
3/ Public resolution number.
4/ Unappropriated contract authorizations for the naval expansion program are as follows:
Public No. 781. $ 47,000,000
4. 400,000,000
757 (formerly cited as Public No. 11) (Estimated) 2,874,327,373
13. 58,000,000
441. 4,170,000,000
528. 100,000,000
626. (Estimated) 2,962,500,000
763. (Estimated) 9,510,000,000
$20,121,827,373
5/ Includes $9,693,525,500 appropriated and $4,170,000,000 contract authorizations for the fiscal year 1942.
6/ Includes $650,000 for the fiscal year 1941 and $209,000,000 for the fiscal year 1943.
7/ Includes $7,851,460 for the fiscal year 1942.
8/ Consists of actual appropriations for the fiscal years 1941 and 1942 and budget estimates for the fiscal year 1943. This item represents appropriations of receipts, the exact amount of which is not known until the end of each fiscal year.
9/ Includes actual transfer of balances of the Bureau of Marine Inspection and Navigation from the Department of Commerce to Coast Guard, Navy, in the amount of $1,153,801.79 in accordance with Executive Order 9083, dated February 28, 1942. Also includes $1,763,293.33 received as war contributions under authority of the Second War Powers Act, deposits of advance payments made by foreign governments to the Defense Aid Special Fund for the procurement of defense articles amounting to $29,684,311.13, and deposits of $3,863,500.00 to compensate owners of foreign merchant vessels for vessels acquired by the United States Government in accordance with section 902 of the Merchant Marine Act of 1936.
7
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="5">Expenditures 1/</th><th rowspan="2">Public debt retire-ments 9/</th></tr><tr><th>Total receipts</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 (net) 1/</th><th>Transfer to trust accounts, etc. 1/</th><th>Net budget 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>3,864</td><td>2,981</td><td>680</td><td>74</td><td>129</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>4,908</td><td>531</td><td>496</td><td>77</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>5,900</td><td>689</td><td>345</td><td>76</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>5,935</td><td>900</td><td>11</td><td>1,820</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>8,177</td><td>6,437</td><td>929</td><td>204</td><td>608</td><td>3,149</td><td>104</td></tr><tr><td>1938</td><td>6,242</td><td>5,674</td><td>359</td><td>208</td><td>387</td><td>5,855</td><td>7,239</td><td>5,864</td><td>1,029</td><td>121</td><td>225</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>7,221</td><td>1,206</td><td>92</td><td>187</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</td><td>538</td><td>5,387</td><td>8,998</td><td>7,055</td><td>1,657</td><td>94</td><td>232</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</td><td>661</td><td>7,607</td><td>12,711</td><td>6,215</td><td>6,301</td><td>-136</td><td>331</td><td>5,103</td><td>64</td></tr><tr><td>1942</td><td>13,668</td><td>12,993</td><td>389</td><td>286</td><td>869</td><td>12,799</td><td>32,397</td><td>5,986</td><td>26,011</td><td>18</td><td>381</td><td>19,598</td><td>95</td></tr><tr><td>1941-November</td><td>730</td><td>683</td><td>30</td><td>18</td><td>166</td><td>564</td><td>1,858</td><td>400</td><td>1,448</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>682</td><td>1,850</td><td>*</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>484</td><td>2,104</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>412</td><td>2,208</td><td>*</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>591</td><td>2,809</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>467</td><td>3,238</td><td>-1</td><td>48</td><td>3,058</td><td>2</td></tr><tr><td>May</td><td>764</td><td>708</td><td>30</td><td>26</td><td>201</td><td>563</td><td>3,953</td><td>393</td><td>3,560</td><td>1</td><td>*</td><td>3,391</td><td>2</td></tr><tr><td>June</td><td>2,494</td><td>2,424</td><td>28</td><td>42</td><td>1</td><td>2,492</td><td>4,530</td><td>700</td><td>3,829</td><td>*</td><td>1</td><td>2,037</td><td>1</td></tr><tr><td>July</td><td>794</td><td>742</td><td>24</td><td>28</td><td>47</td><td>747</td><td>5,160</td><td>413 r</td><td>4,498 r</td><td>*</td><td>249</td><td>4,413</td><td>2</td></tr><tr><td>August</td><td>797</td><td>748</td><td>22</td><td>26</td><td>209</td><td>587</td><td>5,215</td><td>312 r</td><td>4,884 r</td><td>*</td><td>19</td><td>4,628</td><td>*</td></tr><tr><td>September</td><td>2,528</td><td>2,476</td><td>20</td><td>31</td><td>1</td><td>2,527</td><td>5,931</td><td>544</td><td>5,384</td><td>-3</td><td>5</td><td>3,404</td><td>*</td></tr><tr><td>October</td><td>648</td><td>603</td><td>24</td><td>20</td><td>41</td><td>607</td><td>5,937</td><td>401</td><td>5,441</td><td>*</td><td>56</td><td>5,331</td><td>*</td></tr><tr><td>November</td><td>830</td><td>784</td><td>23</td><td>22</td><td>229</td><td>601</td><td>6,363</td><td>320</td><td>6,042</td><td>-2</td><td>3</td><td>5,761</td><td>*</td></tr></table>
Source: Daily Treasury Statements. 
r Revised.
* Less than $500,000.
1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc. under special provisions of law.
2/ For further details, see Table 2.
3/ For further details, see chapter on Customs Statistics in December 1941 "Treasury 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 footnotes 4/ and 5/.
8/ Total expenditures less net receipts.
9/ Represents expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
10/ Includes partial return of amounts paid to the Commodity Credit Corporation for the restoration of capital impairment - $44 millions; and the retirement of Treasury investment in Federal savings and loan association 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 Recon- struction Finance Corporation) - $125 millions; retirement of Treasury investment in Federal savings and loan association shares - $10 millions; sale to Reconstruction Finance Corpora- tion 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 re- flected under receipts, but rather are included as negative items under expenditures. During the fiscal year 1941, reduc- tions 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 in- termediate credit banks - $400 millions, and production credit corporations - $15 millions; a total of $315 millions.
13/ Includes $18 millions in the fiscal year 1942 and $10 millions in the month of September, 1942 representing partial return of amounts paid to the Commodity Credit Corporation for restoration of capital impairment.
Table 2.- Analysis of Receipts from Internal Revenue
(In millions of dollars)
<table><tr><th>Piecral year or month</th><th>Total</th><th>Income and profits taxe 2/</th><th>Total</th><th colspan="2">Employment taxes 3/</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th><th>Miscellaneous internal revenue 4/</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></tr><tr><td>1933</td><td>1,604</td><td>746</td><td>-</td><td>-</td><td>-</td><td>-</td><td>858</td><td>-</td></tr><tr><td>1934</td><td>2,641</td><td>818</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>1,099</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>2,010</td><td>77</td></tr><tr><td>1937</td><td>4,597</td><td>2,163</td><td>253</td><td>194</td><td>58</td><td>*</td><td>2,181</td><td>*</td></tr><tr><td>1938</td><td>5,674</td><td>2,640</td><td>755</td><td>514</td><td>90</td><td>150</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>2,232</td><td>-</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>833</td><td>604</td><td>108</td><td>121</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>98</td><td>137</td><td>2,967</td><td>-</td></tr><tr><td>1942</td><td>12,993</td><td>7,960</td><td>1,186</td><td>896</td><td>120</td><td>170</td><td>3,347</td><td>-</td></tr><tr><td>1941-November</td><td>683</td><td>66</td><td>180</td><td>168</td><td>7</td><td>5</td><td>436</td><td>-</td></tr><tr><td>December</td><td>1,159</td><td>767</td><td>39</td><td>4</td><td>1</td><td>14</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>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>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>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>305</td><td>-</td></tr><tr><td>May</td><td>708</td><td>216</td><td>222</td><td>204</td><td>9</td><td>9</td><td>270</td><td>-</td></tr><tr><td>June</td><td>2,424</td><td>2,086</td><td>40</td><td>4</td><td>1</td><td>35</td><td>298</td><td>-</td></tr><tr><td>July</td><td>742</td><td>273</td><td>53</td><td>49</td><td>3</td><td>1</td><td>416</td><td>-</td></tr><tr><td>August</td><td>748</td><td>155</td><td>232</td><td>212</td><td>8</td><td>11</td><td>362</td><td>-</td></tr><tr><td>September</td><td>2,476</td><td>2,126</td><td>41</td><td>3</td><td>1</td><td>16</td><td>309</td><td>-</td></tr><tr><td>October</td><td>603</td><td>206</td><td>48</td><td>44</td><td>3</td><td>1</td><td>350</td><td>-</td></tr><tr><td>November</td><td>784</td><td>199</td><td>248</td><td>231</td><td>9</td><td>8</td><td>337</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
For the period prior to September 1939, the data in the columns entitled Federal Insurance Contributions Act and Fed-
g
Budget Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Miscal 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 8/</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>2,981</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>278</td></tr><tr><td>1934</td><td>4,908</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>509</td></tr><tr><td>1935</td><td>5,900</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>283</td></tr><tr><td>1936</td><td>5,935</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>258</td></tr><tr><td>1937</td><td>6,437</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>223</td></tr><tr><td>1938</td><td>5,864</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>200</td></tr><tr><td>1939</td><td>7,221</td><td>557</td><td>900</td><td>1,237</td><td>347</td><td>2,240</td><td>2</td><td>390</td><td>941</td><td>517</td><td>191</td></tr><tr><td>1940</td><td>7,055</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>227</td></tr><tr><td>1941</td><td>6,215</td><td>553</td><td>715</td><td>1,006 9/</td><td>457</td><td>1,374</td><td>-</td><td>257</td><td>1,111</td><td>525</td><td>216</td></tr><tr><td>1942</td><td>5,986</td><td>555</td><td>669</td><td>1,091</td><td>515</td><td>970</td><td>-</td><td>163</td><td>1,260</td><td>544</td><td>220</td></tr><tr><td>1941-November</td><td>400</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>41</td><td>11</td></tr><tr><td>December</td><td>682</td><td>46</td><td>53</td><td>137</td><td>34</td><td>94</td><td>-</td><td>15</td><td>232</td><td>51</td><td>14</td></tr><tr><td>1942-January</td><td>484</td><td>46</td><td>55</td><td>133</td><td>56</td><td>77</td><td>-</td><td>12</td><td>32</td><td>46</td><td>27</td></tr><tr><td>February</td><td>412</td><td>45</td><td>44</td><td>122</td><td>38</td><td>75</td><td>-</td><td>12</td><td>12</td><td>45</td><td>18</td></tr><tr><td>March</td><td>591</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>51</td><td>17</td></tr><tr><td>April</td><td>467</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>44</td><td>24</td></tr><tr><td>May</td><td>393</td><td>47</td><td>51</td><td>86</td><td>54</td><td>68</td><td>-</td><td>8</td><td>19</td><td>47</td><td>14</td></tr><tr><td>June</td><td>700</td><td>47</td><td>57</td><td>51</td><td>12</td><td>61</td><td>-</td><td>7</td><td>390</td><td>46</td><td>29</td></tr><tr><td>July</td><td>413 r</td><td>47</td><td>54</td><td>74</td><td>80</td><td>54 r</td><td>-</td><td>7</td><td>35</td><td>43</td><td>19</td></tr><tr><td>August</td><td>312 r</td><td>47</td><td>58</td><td>47</td><td>43</td><td>43 r</td><td>-</td><td>5</td><td>7</td><td>46</td><td>16</td></tr><tr><td>September</td><td>544</td><td>46</td><td>54</td><td>97</td><td>22</td><td>35 r</td><td>-</td><td>1</td><td>224</td><td>52</td><td>12</td></tr><tr><td>October</td><td>401</td><td>49</td><td>59</td><td>67</td><td>64</td><td>31</td><td>-</td><td>*</td><td>70</td><td>45</td><td>16</td></tr><tr><td>November</td><td>320</td><td>47</td><td>39</td><td>83</td><td>40</td><td>28</td><td>-</td><td>*</td><td>28</td><td>45</td><td>11</td></tr></table>
Source: Daily Treasury Statements.
* Revised.
* Less than $500,000.
1/ Includes public works undertaken by the Veterans' Administration. Additional expenditures included in Table 5, for the Adjusted Service Certificate Fund and the National Service Life Insurance 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. 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.
Additional expenditures included in Table 5. For further details, see tables which follow on the Social Security program.
5/ Work Projects Administration was formerly Works Progress Administration. Beginning with July 1942, expenditures for the National Youth Adminis-tration are shown in Table 4.
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 Administration; and Treasury Department investments in Federal savings and loan assoc-iations. Also includes expenditures for capital stock of the Federal Deposit Insurance Corporation, Home Owners' Loan Corporation, Federal home loan banks, and Disaster Loan Corporation. The Federal contribu-tions to the District of Columbia (United States share) have been transferred to the classification "Transfer to trust accounts, etc.".
9/ Grose expenditures have been reduced $160 millions representing the repayments of capital funds by certain government 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 1/</th><th>Navy Department</th><th>Total miscellaneous war activities</th><th>Agriculture Department</th><th>Federal Security Agency</th><th>Federal Works Agency</th><th>National Housing Agency 2/</th><th>Selective Service (administrative)</th><th>Treasury Department</th><th>United States Maritime Commission 3/</th><th>War Shipping Administration</th><th>Aid to China</th><th>Other war activities expenditures 4/</th></tr><tr><td>1933</td><td>680</td><td>302</td><td>350</td><td>29</td><td>-</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>511</td><td>243</td><td>297</td><td>-10</td><td>-</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>-21</td><td>-</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>-12</td><td>-</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>-6</td><td>-</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>1</td><td>-</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>44</td><td>-</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>99</td><td>-</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>3,678</td><td>2,313</td><td>310</td><td>3</td><td>62 r</td><td>-</td><td>45</td><td>18</td><td>24</td><td>51</td><td>-</td><td>-</td><td>108 r</td></tr><tr><td>1942</td><td>26,011</td><td>14,070</td><td>8,580</td><td>3,362</td><td>696</td><td>111 r</td><td>62</td><td>297</td><td>33</td><td>519</td><td>929</td><td>132</td><td>200</td><td>382 r</td></tr><tr><td>1941-November</td><td>1,448</td><td>771</td><td>493</td><td>185</td><td>41</td><td>6 r</td><td>1</td><td>29</td><td>2</td><td>29</td><td>57</td><td>-</td><td>-</td><td>20 r</td></tr><tr><td>December</td><td>1,850</td><td>1,072</td><td>545</td><td>233</td><td>43</td><td>7 r</td><td>4</td><td>29</td><td>2</td><td>52</td><td>69</td><td>-</td><td>-</td><td>28 r</td></tr><tr><td>1942-January</td><td>2,104</td><td>1,282</td><td>575</td><td>247</td><td>63</td><td>7 r</td><td>4</td><td>27</td><td>2</td><td>35</td><td>85</td><td>-</td><td>-</td><td>24 r</td></tr><tr><td>February</td><td>2,208</td><td>1,369</td><td>581</td><td>258</td><td>53</td><td>9 r</td><td>10</td><td>19</td><td>3</td><td>42</td><td>95</td><td>2</td><td>-</td><td>26 r</td></tr><tr><td>March</td><td>2,809</td><td>1,432</td><td>946</td><td>430</td><td>105</td><td>8 r</td><td>10</td><td>18</td><td>3</td><td>63</td><td>121</td><td>16</td><td>-</td><td>86 r</td></tr><tr><td>April</td><td>3,238</td><td>1,594</td><td>1,101</td><td>543</td><td>65</td><td>7 r</td><td>14</td><td>22</td><td>3</td><td>63</td><td>98</td><td>42</td><td>200</td><td>29 r</td></tr><tr><td>May</td><td>3,560</td><td>1,850</td><td>1,307</td><td>402</td><td>80</td><td>8 r</td><td>10</td><td>17</td><td>4</td><td>83</td><td>130</td><td>33</td><td>-</td><td>37 r</td></tr><tr><td>June</td><td>3,829</td><td>2,007</td><td>1,309</td><td>513</td><td>119</td><td>8 r</td><td>8</td><td>21</td><td>4</td><td>99</td><td>150</td><td>39</td><td>-</td><td>66 r</td></tr><tr><td>July</td><td>4,498</td><td>2,861</td><td>1,103</td><td>534 r</td><td>90</td><td>28 r</td><td>12</td><td>26</td><td>4</td><td>95</td><td>184</td><td>54</td><td>-</td><td>42 r</td></tr><tr><td>August</td><td>4,884</td><td>2,875</td><td>1,376</td><td>633</td><td>61</td><td>13 r</td><td>17</td><td>42</td><td>4</td><td>110</td><td>211</td><td>99</td><td>-</td><td>76 r</td></tr><tr><td>September</td><td>5,384</td><td>3,519</td><td>1,294</td><td>572</td><td>94</td><td>4 r</td><td>13</td><td>45</td><td>5</td><td>102</td><td>141</td><td>113</td><td>-</td><td>56 r</td></tr><tr><td>October</td><td>5,481</td><td>3,417</td><td>1,596</td><td>467</td><td>51</td><td>21 r</td><td>17</td><td>48</td><td>3</td><td>110</td><td>46</td><td>111</td><td>-</td><td>60 r</td></tr><tr><td>November</td><td>6,042</td><td>3,538</td><td>1,478</td><td>1,025</td><td>433</td><td>16</td><td>15</td><td>50</td><td>2</td><td>81</td><td>274</td><td>85</td><td>-</td><td>68</td></tr></table>
Source: Daily Treasury Statements. Revise to reflect changes in classification pursuant to Executive Order 9247 transferring the National Youth Administration, Training within Industry, Apprenticeship Training Service, and United States Employment Service from Federal Security Agency to the War Manpower Commission.
1/ Excludes Selective Service administrative expenses.
2/ Includes war public housing functions.
3/ Includes emergency ship construction, beginning March 1941.
4/ Similar items for periods prior to fiscal year 1941 are classified under Other departmental and Other general expenditures in Table 3.
5/ Includes the Civil Aeronautics Administration and the Panama Canal.
9
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="6">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>Veterans' Administration 4/</th><th>Social Security program 5/</th><th>Government employees' retirement funds (U. S. share)</th><th>Agricultural Marketing Administration (surplus commodity stampo)</th><th>Federal contribution to District of Columbia (U. S. share)</th></tr><tr><td>1933</td><td>74</td><td>74</td><td>-</td><td>129</td><td>100</td><td>-</td><td>21</td><td>-</td><td>8</td></tr><tr><td>1934</td><td>496</td><td>346</td><td>149</td><td>77</td><td>50</td><td>-</td><td>21</td><td>-</td><td>6</td></tr><tr><td>1935</td><td>345</td><td>141</td><td>204</td><td>76</td><td>50</td><td>-</td><td>21</td><td>-</td><td>5</td></tr><tr><td>1936</td><td>11</td><td>-33</td><td>44</td><td>1,820</td><td>1,773</td><td>-</td><td>41</td><td>-</td><td>6</td></tr><tr><td>1937</td><td>204</td><td>-18</td><td>221</td><td>608</td><td>557</td><td>-</td><td>47</td><td>-</td><td>5</td></tr><tr><td>1938</td><td>121</td><td>-13</td><td>134</td><td>225</td><td>-</td><td>146</td><td>73</td><td>-</td><td>5</td></tr><tr><td>1939</td><td>92</td><td>-8</td><td>101</td><td>187</td><td>-</td><td>107</td><td>75</td><td>-</td><td>5</td></tr><tr><td>1940</td><td>54</td><td>-6</td><td>59</td><td>232</td><td>-</td><td>121</td><td>87</td><td>18</td><td>6</td></tr><tr><td>1941</td><td>-136</td><td>-159 6/</td><td>23</td><td>331</td><td>10</td><td>132</td><td>93</td><td>91</td><td>6</td></tr><tr><td>1942</td><td>18</td><td>7</td><td>11</td><td>381</td><td>1</td><td>145</td><td>103</td><td>126</td><td>6</td></tr><tr><td>1941-November</td><td>-1</td><td>-1</td><td>-</td><td>10</td><td>-</td><td>-</td><td>-</td><td>10</td><td>-</td></tr><tr><td>December</td><td>4</td><td>-2</td><td>2</td><td>9</td><td>-</td><td>-</td><td>-</td><td>9</td><td>-</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><td>-</td></tr><tr><td>February</td><td>0</td><td>-1</td><td>-</td><td>9</td><td>-</td><td>-</td><td>-</td><td>9</td><td>-</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><td>-</td></tr><tr><td>April</td><td>-1</td><td>0</td><td>-</td><td>48</td><td>-</td><td>32</td><td>-</td><td>17</td><td>-</td></tr><tr><td>May</td><td>1</td><td>0</td><td>1</td><td>0</td><td>-</td><td>-</td><td>-</td><td>0</td><td>-</td></tr><tr><td>June</td><td>0</td><td>0</td><td>0</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>0</td><td>0</td><td>0</td><td>249</td><td>5</td><td>113</td><td>107</td><td>19</td><td>6</td></tr><tr><td>August</td><td>0</td><td>0</td><td>0</td><td>19</td><td>6</td><td>6</td><td>-</td><td>7</td><td>-</td></tr><tr><td>September</td><td>-3</td><td>0</td><td>-2</td><td>5</td><td>4</td><td>-</td><td>-</td><td>2</td><td>-</td></tr><tr><td>October</td><td>0</td><td>0</td><td>0</td><td>56</td><td>2</td><td>34</td><td>-</td><td>20</td><td>-</td></tr><tr><td>November</td><td>-2</td><td>-2</td><td>0</td><td>3</td><td>2</td><td>-</td><td>-</td><td>0</td><td>1</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/ Comprises Adjusted Service Certificate Fund and the National Service Life Insurance Fund, administered by the Veterans' Administration.
5) Includes railroad retirement and railroad unemployment active taxes. For further explanations see tables which follow on Social Security program.
6) Reflects reduction 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><strong>Net budget receipts 1/</strong></td><td></td><td></td><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>464</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>504</td><td>1,212</td><td>8,849</td></tr><tr><td>1942</td><td>578</td><td>758</td><td>3,547</td><td>695</td><td>563</td><td>2,492</td><td>747</td><td>587</td><td>2,527</td><td>607</td><td>601</td><td></td><td></td></tr><tr><td><strong>Budget expenditures 2/</strong></td><td></td><td></td><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>544</td><td>701</td><td>559</td><td>636</td><td>7,284</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>632</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>656</td><td>574</td><td>676</td><td>677</td><td>564</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>725</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>887</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>1,598</td><td>1,529</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,542</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>3,953</td><td>4,530</td><td>5,160</td><td>5,215</td><td>5,932</td><td>5,937</td><td>6,363</td><td></td><td></td></tr><tr><td><strong>Net budget deficit 3/</strong></td><td></td><td></td><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>152</td><td>175</td><td>1,863</td></tr><tr><td>1934</td><td>484</td><td>428</td><td>153</td><td>461</td><td>247</td><td>252</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>4,872</td></tr><tr><td>1937</td><td>300</td><td>316</td><td>-200</td><td>377</td><td>224</td><td>425</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>2,047</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>2,050</td><td>1,671</td><td>-126</td><td>3,058</td><td>3,391</td><td>2,037</td><td>4,413</td><td>4,628</td><td>3,404</td><td>5,331</td><td>5,762</td><td></td><td></td></tr></table>
Source: Daily Treasury Statements. 1/ Total receipts less not amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund.
2/ Excludes public debt retirements. 3/ Total expenditures less net receipts.
10
BUDGET RECEIPTS AND EXPENDITURES
11
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>898</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>763</td><td>751</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>351</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>389</td></tr><tr><td>1942</td><td>+66</td><td>+9</td><td>940</td><td>931</td><td>*</td><td>1,204</td><td>1,243</td><td>*</td><td>144</td><td>144</td><td>+57</td><td>512</td><td>455</td></tr><tr><td>1941-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>18</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><tr><td>May</td><td>+181</td><td>+177</td><td>202</td><td>25</td><td>-5</td><td>220</td><td>225</td><td>*</td><td>*</td><td>*</td><td>+9</td><td>36</td><td>27</td></tr><tr><td>June</td><td>-205</td><td>-215</td><td>70</td><td>285</td><td>+2</td><td>64</td><td>62</td><td>+1</td><td>2</td><td>1</td><td>+7</td><td>96</td><td>89</td></tr><tr><td>July</td><td>+55</td><td>+46</td><td>47</td><td>1</td><td>-2</td><td>52</td><td>54</td><td>-2</td><td>113</td><td>114</td><td>+13</td><td>160</td><td>147</td></tr><tr><td>August</td><td>+197</td><td>+193</td><td>210</td><td>16</td><td>+3</td><td>223</td><td>220</td><td>*</td><td>*</td><td>*</td><td>+1</td><td>41</td><td>42</td></tr><tr><td>September</td><td>-227</td><td>-229</td><td>1</td><td>230</td><td>-1</td><td>29</td><td>30</td><td>*</td><td>*</td><td>*</td><td>+2</td><td>68</td><td>66</td></tr><tr><td>October</td><td>+60</td><td>+42</td><td>42</td><td>*</td><td>-4</td><td>50</td><td>54</td><td>*</td><td>34</td><td>34</td><td>+22</td><td>64</td><td>42</td></tr><tr><td>November</td><td>+274</td><td>+227</td><td>229</td><td>2</td><td>+40</td><td>243</td><td>203</td><td>*</td><td>*</td><td>*</td><td>+6</td><td>54</td><td>48</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>-818</td><td>3/</td><td>3/</td><td>-</td><td>2,811</td><td>2,000</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</td><td>113</td><td>+140</td><td>140</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>1</td><td>104</td><td>+176</td><td>176</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>2</td><td>101</td><td>+140</td><td>140</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+714</td><td>3/</td><td>3/</td><td>-99</td><td>1</td><td>52</td><td>+90</td><td>90</td><td>-</td><td>+2</td><td>-</td><td>-2</td></tr><tr><td>1938</td><td>+204</td><td>3/</td><td>3/</td><td>-51</td><td>1</td><td>5</td><td>+90</td><td>90</td><td>-</td><td>+2</td><td>-</td><td>-2</td></tr><tr><td>1939</td><td>+768</td><td>+1,106</td><td>-337</td><td>-5</td><td>-</td><td>-</td><td>+199</td><td>199</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>+14</td><td>14</td><td>-</td><td>+39</td><td>331</td><td>292</td></tr><tr><td>1942</td><td>-3,625</td><td>-1,809</td><td>-1,815</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1941-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><tr><td>May</td><td>-130</td><td>-2</td><td>-428</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-9</td><td>17</td><td>26</td></tr><tr><td>June</td><td>-1,417</td><td>-1,120</td><td>-296</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-14</td><td>14</td><td>28</td></tr><tr><td>July</td><td>-78</td><td>+12</td><td>-91</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+20</td><td>33</td><td>13</td></tr><tr><td>August</td><td>-262</td><td>+9</td><td>-271</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+10</td><td>20</td><td>10</td></tr><tr><td>September</td><td>-25</td><td>-23</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+6</td><td>14</td><td>8</td></tr><tr><td>October</td><td>-583</td><td>-311</td><td>-272</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+27</td><td>32</td><td>5</td></tr><tr><td>November</td><td>+449</td><td>+451</td><td>-2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+13</td><td>10</td><td>-2</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 FWA revolving fund, and special deposits (net). Also includes Agricultural Marketing Administration commodity food stamp transactions.
3/ Details not available.
12
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="4">Means of financing</th></tr><tr><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>1,784</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>2,896</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>1,648</td><td>741</td><td>821</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>2,646</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>3,542</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>1942</td><td>23,461</td><td>19,598</td><td>358</td><td>3,506</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1941-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>633</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>3,184</td><td>3,058</td><td>-</td><td>126</td><td>3,184</td><td>2,542</td><td>642</td><td>-</td></tr><tr><td>May</td><td>3,648</td><td>3,391</td><td>-</td><td>257</td><td>3,648</td><td>3,609</td><td>39</td><td>-</td></tr><tr><td>June</td><td>3,852</td><td>2,037</td><td>179</td><td>1,635</td><td>3,852</td><td>3,852</td><td>-</td><td>-</td></tr><tr><td>July</td><td>4,714</td><td>4,413</td><td>296</td><td>4</td><td>4,714</td><td>4,714</td><td>-</td><td>-</td></tr><tr><td>August</td><td>4,683</td><td>4,628</td><td>-</td><td>54</td><td>4,683</td><td>4,549</td><td>134</td><td>-</td></tr><tr><td>September</td><td>4,798</td><td>3,404</td><td>1,148</td><td>245</td><td>4,798</td><td>4,798</td><td>-</td><td>-</td></tr><tr><td>October</td><td>6,420</td><td>5,331</td><td>594</td><td>496</td><td>6,420</td><td>6,420</td><td>-</td><td>-</td></tr><tr><td>November</td><td>5,761</td><td>5,761</td><td>-</td><td>-</td><td>5,761</td><td>3,212</td><td>1,814</td><td>736</td></tr></table>
Source: Daily Treasury Statements. 1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law.
2/ 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.
3/ Net budget surplus.
13
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">Gross receipts</th><th rowspan="2">Loss amounts credited to Federal Old-Age and Survivors Insurance Trust Fund 1/</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 (Uoemployment 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>788.2</td><td>690.6</td><td>97.7</td><td>661.3</td><td>126.9</td></tr><tr><td>1942</td><td>1,015.6</td><td>895.6</td><td>119.9</td><td>858.9</td><td>146.7</td></tr><tr><td>1941-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><tr><td>May</td><td>213.0</td><td>203.7</td><td>9.3</td><td>201.4</td><td>11.7</td></tr><tr><td>June</td><td>4.7</td><td>3.7</td><td>1.0</td><td>1.4</td><td>3.3</td></tr><tr><td>July</td><td>52.2</td><td>49.4</td><td>2.8</td><td>47.1</td><td>5.1</td></tr><tr><td>August</td><td>220.1</td><td>211.7</td><td>8.5</td><td>209.4</td><td>10.7</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>46.6</td><td>43.9</td><td>2.6</td><td>41.4</td><td>5.1</td></tr><tr><td>November</td><td>239.8</td><td>231.1</td><td>8.7</td><td>228.5</td><td>11.2</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="7">Expenditures Orants to States</th><th rowspan="2">Refunds of taxes</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Total</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 Service</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare services</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>41.0 6/</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>115.1</td><td></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>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>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>322.5</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>3.4</td><td>357.7</td></tr><tr><td>1941-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>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>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>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>-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>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>44.2</td></tr><tr><td>May</td><td>53.2</td><td>2.6</td><td>50.2</td><td>32.6</td><td>6.3</td><td>.7</td><td>9.5</td><td>*</td><td>.8</td><td>.2</td><td>*</td><td>.4</td><td>41.5</td></tr><tr><td>June</td><td>11.5</td><td>2.5</td><td>8.7</td><td>4.3</td><td>.9</td><td>.1</td><td>3.2</td><td>*</td><td>*</td><td>.1</td><td>*</td><td>.3</td><td>8.2</td></tr><tr><td>July</td><td>78.8</td><td>2.7</td><td>75.9</td><td>47.2</td><td>11.5</td><td>1.3</td><td>13.1</td><td>2.6</td><td>*</td><td>*</td><td>.1</td><td>.3</td><td>73.1</td></tr><tr><td>August</td><td>41.7</td><td>2.7</td><td>38.7</td><td>26.0</td><td>6.8</td><td>.8</td><td>3.3</td><td>.6</td><td>.4</td><td>.5</td><td>.3</td><td>.3</td><td>31.0</td></tr><tr><td>September</td><td>21.2</td><td>2.5</td><td>18.5</td><td>11.0</td><td>2.9</td><td>.4</td><td>3.5</td><td>*</td><td>.5</td><td>.3</td><td>*</td><td>.3</td><td>18.1</td></tr><tr><td>October</td><td>63.2</td><td>2.8</td><td>60.1</td><td>35.2</td><td>8.2</td><td>1.0</td><td>12.4</td><td>2.4</td><td>.5</td><td>.3</td><td>.3</td><td>.3</td><td>58.0</td></tr><tr><td>November</td><td>38.9</td><td>2.3</td><td>36.4</td><td>24.8</td><td>6.4</td><td>.7</td><td>3.0</td><td>*</td><td>.8</td><td>.5</td><td>.1</td><td>.2</td><td>27.7</td></tr></table>
Source: Daily Treasury Statements.
* Less than $50,000.
1/ Formerly Title VIII of the Social Security Act.
2/ Formerly Title II 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.
4/ 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.
5/ Covered by appropriations by Congress.
6/ 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.
14
Social Security Program - (Continued)
Section I.- Budget Receipts and Expenditures - (Continued)
Table 2.- Railroad Retirement Act
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="2">Receipts</th><th colspan="4">Expenditures</th><th>Excess of expenditures 2/</th></tr><tr><th></th><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><th></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>136.9</td><td>128.2</td><td>3.8</td><td>124.4</td><td>.1</td><td>-8.7</td></tr><tr><td>1942</td><td>170.0</td><td>148.5</td><td>7.6</td><td>140.9</td><td>*</td><td>-21.6</td></tr><tr><td>1941-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><tr><td>May</td><td>9.0</td><td>.6</td><td>.6</td><td>-</td><td>*</td><td>-8.5</td></tr><tr><td>June</td><td>35.0</td><td>.5</td><td>.5</td><td>-</td><td>*</td><td>-34.5</td></tr><tr><td>July</td><td>1.0</td><td>113.2</td><td>.6</td><td>112.6</td><td>*</td><td>112.2</td></tr><tr><td>August</td><td>11.5</td><td>.7</td><td>.7</td><td>-</td><td>*</td><td>-10.8</td></tr><tr><td>September</td><td>36.5</td><td>.5</td><td>.5</td><td>-</td><td>*</td><td>-36.0</td></tr><tr><td>October</td><td>1.1</td><td>34.0</td><td>.5</td><td>33.5</td><td>*</td><td>32.8</td></tr><tr><td>November</td><td>8.2</td><td>.5</td><td>.5</td><td>-</td><td>*</td><td>-7.7</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>Fiscal year or month</th><th>Receipts Railroad unemployment insurance contributions 2/</th><th>Tntal</th><th>Expenditures Administrative expenses (Railroad Unemployment Insurance Administration Fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th><th>Excess of expenditures 5/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>-</td><td>.5</td><td>.5</td><td>-</td><td>.5</td></tr><tr><td>1940</td><td>4.9</td><td>5.0</td><td>5.0</td><td>-</td><td>.1</td></tr><tr><td>1941</td><td>6.8</td><td>10.9</td><td>3.4</td><td>7.5</td><td>4.1</td></tr><tr><td>1942</td><td>8.5</td><td>6.4</td><td>2.5</td><td>3.9</td><td>-2.1</td></tr><tr><td>1941-November</td><td>1.1</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>•</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><tr><td>May</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>June</td><td>2.2</td><td>.3</td><td>.3</td><td>-</td><td>-1.9</td></tr><tr><td>July</td><td>•</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>August</td><td>.2</td><td>6.2</td><td>.2</td><td>6.0</td><td>6.0</td></tr><tr><td>September</td><td>2.2</td><td>.2</td><td>.2</td><td>-</td><td>-2.1</td></tr><tr><td>October</td><td>•</td><td>.1</td><td>.1</td><td>-</td><td>.1</td></tr><tr><td>November</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr></table>
1/ Operated as Railroad Unemployment Insurance Administration Fund. 
2/ 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 I 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.
15
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>Appropriation by Congress</th><th>Interest on investment</th><th>Total expenditures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expenses 2/</th><th>Total</th><th>Investment</th><th>Unexpended balance In General Fund</th><th>Unexpended balance 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><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><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><td>1.9</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><td>3.0</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><td>6.1</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><td>10.8</td></tr><tr><td>1942</td><td>3,502.8</td><td>3,288.8</td><td>214.1</td><td>275.6</td><td>209.8</td><td>65.9</td><td>3,227.2</td><td>3,201.6</td><td>5.2</td><td>20.4</td></tr><tr><td>1942-July</td><td>3,552.2</td><td>3,338.1</td><td>214.1</td><td>288.9</td><td>220.7</td><td>68.2</td><td>3,263.3</td><td>3,191.6</td><td>52.3</td><td>19.4</td></tr><tr><td>August</td><td>3,764.0</td><td>3,549.8</td><td>214.2</td><td>302.2</td><td>231.8</td><td>70.4</td><td>3,461.8</td><td>3,196.8</td><td>236.7</td><td>28.4</td></tr><tr><td>September</td><td>3,768.1</td><td>3,553.3</td><td>214.9</td><td>316.2</td><td>243.5</td><td>72.7</td><td>3,451.9</td><td>3,415.1</td><td>5.4</td><td>31.5</td></tr><tr><td>October</td><td>3,812.2</td><td>3,597.2</td><td>215.0</td><td>330.7</td><td>255.4</td><td>75.2</td><td>3,481.5</td><td>3,403.1</td><td>46.9</td><td>31.5</td></tr><tr><td>November</td><td>4,043.4</td><td>3,828.3</td><td>215.1</td><td>345.1</td><td>267.3</td><td>77.7</td><td>3,698.3</td><td>3,393.1</td><td>275.7</td><td>29.5</td></tr></table>
Source: 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 organization - 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</th><th colspan="3">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>Unexpended balance 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>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>42.6</td><td>-</td><td>35.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</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>82.7</td><td>67.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1940</td><td>390.8</td><td>384.9</td><td>5.9</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>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1942</td><td>650.9</td><td>639.4</td><td>11.6</td><td>104.8</td><td>91.5</td><td>1.6</td><td>11.7</td></tr><tr><td>1942-July</td><td>855.7</td><td>854.2</td><td>11.6</td><td>557.0</td><td>195.0</td><td>102.2</td><td>11.5</td></tr><tr><td>August</td><td>855.8</td><td>854.2</td><td>11.6</td><td>567.7</td><td>184.0</td><td>113.3</td><td>.8</td></tr><tr><td>September</td><td>855.9</td><td>854.2</td><td>11.7</td><td>578.4</td><td>173.0</td><td>102.3</td><td>12.1</td></tr><tr><td>October</td><td>855.9</td><td>854.2</td><td>11.8</td><td>589.2</td><td>196.0</td><td>68.9</td><td>11.9</td></tr><tr><td>November</td><td>866.1</td><td>854.2</td><td>11.9</td><td>599.9</td><td>185.0</td><td>68.8</td><td>12.3</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</th><th>Railroad Unemployment Insurance Account 1/</th><th>Interest or investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Railroad Unemployment Insurance Account 1/</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th>Deposits by States</th><th>Railroad unemployment insurance contributions 2/</th><th>Transfers from States 3/</th><th>Transfers from Railroad Unemployment Insurance Administration Fund 4/</th><th>With-drawals by States</th><th>Transfers to Railroad Unemployment Insurance Account 3/</th><th>Benefit payments</th><th>In General Fund (Special Deposit Account)</th><th>In die-turing officer's account 5/</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>-</td><td>1.1</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>-</td><td>2.8</td><td>-</td><td>-</td><td>312.4</td><td>312.3</td><td>1.1</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>-</td><td>18.0</td><td>1.0</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>1,869.5</td><td>-</td><td>-</td><td>-</td><td>44.8</td><td>633.8</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>-</td><td>82.6</td><td>1,116.7</td><td>1.8</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>131.5</td><td>1,550.0</td><td>105.9</td><td>2,283.7</td><td>2,273.0</td><td>8.0</td></tr><tr><td>1942</td><td>5,215.5</td><td>4,717.3</td><td>181.9</td><td>105.9</td><td>11.4</td><td>198.9</td><td>2,065.4</td><td>1,918.0</td><td>31.4</td><td>3,150.1</td><td>3,139.0</td></tr><tr><td>1942-July</td><td>5,267.4</td><td>4,769.2</td><td>181.9</td><td>105.9</td><td>11.4</td><td>198.9</td><td>2,095.6</td><td>1,949.1</td><td>41.6</td><td>3,170.8</td><td>3,162.0</td></tr><tr><td>August</td><td>5,490.7</td><td>4,985.1</td><td>183.4</td><td>105.9</td><td>17.4</td><td>198.9</td><td>2,126.6</td><td>1,978.9</td><td>41.8</td><td>3,304.2</td><td>3,352.2</td></tr><tr><td>September</td><td>5,519.7</td><td>4,993.9</td><td>203.6</td><td>105.9</td><td>17.4</td><td>199.0</td><td>2,149.3</td><td>2,001.4</td><td>42.0</td><td>3,370.4</td><td>3,359.2</td></tr><tr><td>October</td><td>5,569.6</td><td>5,043.7</td><td>203.7</td><td>105.9</td><td>17.4</td><td>199.0</td><td>2,165.0</td><td>2,016.9</td><td>42.2</td><td>3,404.7</td><td>3,397.2</td></tr><tr><td>November</td><td>5,812.2</td><td>5,285.4</td><td>204.5</td><td>105.9</td><td>17.4</td><td>199.0</td><td>2,176.7</td><td>2,028.4</td><td>42.3</td><td>3,635.5</td><td>3,588.2</td></tr></table>
Source: Daily Treasury Statements.
* Less than $50,000.
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 1, Table 3.)
3/ Represent amounts transferred from Statee to Railroad Unemployment I urance Account equivalent to amounts of taxes collected, 1st respect to period from January 1936 to June 1939 includi e, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administra'on Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
16
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th></th><th colspan="2">1941</th><th colspan="10">1942</th></tr><tr><th></th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th></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 revenue:</td><td></td><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>66</td><td>767</td><td>133</td><td>283</td><td>3,083</td><td>335</td><td>216</td><td>2,086</td><td>273</td><td>155</td><td>2,126</td><td>206</td><td>199</td></tr><tr><td>Employment taxes</td><td>180</td><td>39</td><td>53</td><td>257</td><td>46</td><td>43</td><td>222</td><td>40</td><td>53</td><td>232</td><td>41</td><td>48</td><td>248</td></tr><tr><td>Miscellaneous internal revenue</td><td>436</td><td>353</td><td>369</td><td>340</td><td>364</td><td>305</td><td>270</td><td>298</td><td>416</td><td>362</td><td>309</td><td>350</td><td>337</td></tr><tr><td>Customs</td><td>30</td><td>33</td><td>35</td><td>27</td><td>33</td><td>32</td><td>30</td><td>28</td><td>24</td><td>22</td><td>20</td><td>24</td><td>23</td></tr><tr><td>Other</td><td>18</td><td>22</td><td>24</td><td>31</td><td>22</td><td>16</td><td>26</td><td>24</td><td>28</td><td>26</td><td>22</td><td>20</td><td>22</td></tr><tr><td>Subtotal</td><td>730</td><td>1,214</td><td>614</td><td>937</td><td>3,548</td><td>732</td><td>764</td><td>2,476</td><td>794</td><td>797</td><td>2,518</td><td>648</td><td>830</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>192</td><td>29</td><td>75</td><td>203</td><td>29</td><td>43</td><td>220</td><td>28</td><td>52</td><td>217</td><td>29</td><td>50</td><td>243</td></tr><tr><td>Trust accounts 2/</td><td>34</td><td>45</td><td>45</td><td>40</td><td>58</td><td>94</td><td>52</td><td>55</td><td>56</td><td>49</td><td>74</td><td>72</td><td>62</td></tr><tr><td>Subtotal</td><td>226</td><td>74</td><td>120</td><td>243</td><td>87</td><td>97</td><td>272</td><td>83</td><td>108</td><td>266</td><td>103</td><td>122</td><td>305</td></tr><tr><td>Total cash income</td><td>956</td><td>1,288</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>902</td><td>1,063</td><td>2,621</td><td>770</td><td>1,135</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>1,448</td><td>1,850</td><td>2,104</td><td>2,208</td><td>2,809</td><td>3,238</td><td>3,560</td><td>3,829</td><td>4,498</td><td>4,884</td><td>5,384</td><td>5,481</td><td>6,042</td></tr><tr><td>Veterans' Administration</td><td>46</td><td>46</td><td>46</td><td>45</td><td>46</td><td>46</td><td>47</td><td>47</td><td>47</td><td>47</td><td>46</td><td>49</td><td>47</td></tr><tr><td>Public Works 3/</td><td>51</td><td>60</td><td>55</td><td>44</td><td>47</td><td>54</td><td>51</td><td>58</td><td>54</td><td>59</td><td>52</td><td>58</td><td>39</td></tr><tr><td>Aid to agriculture 4/</td><td>103</td><td>135</td><td>132</td><td>122</td><td>103</td><td>86</td><td>85</td><td>51</td><td>75</td><td>47</td><td>96</td><td>67</td><td>81</td></tr><tr><td>Social Security program 5/</td><td>41</td><td>34</td><td>56</td><td>38</td><td>33</td><td>50</td><td>54</td><td>12</td><td>80</td><td>43</td><td>22</td><td>64</td><td>40</td></tr><tr><td>Works Projects Administration and National Youth Administration 6/</td><td>78</td><td>94</td><td>77</td><td>76</td><td>79</td><td>76</td><td>68</td><td>61</td><td>54</td><td>43</td><td>35</td><td>31</td><td>28</td></tr><tr><td>Civilian Conservation Corps</td><td>14</td><td>15</td><td>12</td><td>12</td><td>11</td><td>10</td><td>8</td><td>7</td><td>7</td><td>5</td><td>1</td><td>*</td><td>*</td></tr><tr><td>Interest on the public debt 7/</td><td>11</td><td>195</td><td>18</td><td>5</td><td>196</td><td>70</td><td>13</td><td>220</td><td>20</td><td>-2</td><td>212</td><td>62</td><td>21</td></tr><tr><td>Other</td><td>52</td><td>67</td><td>72</td><td>62</td><td>65</td><td>68</td><td>62</td><td>74</td><td>63</td><td>62</td><td>64</td><td>60</td><td>56</td></tr><tr><td>Subtotal</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><td>3,948</td><td>4,358</td><td>4,896</td><td>5,188</td><td>5,914</td><td>5,873</td><td>6,353</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></td><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 8/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>58</td><td>289</td></tr><tr><td>Other</td><td>38</td><td>142</td><td>39</td><td>139</td><td>253</td><td>208</td><td>249</td><td>284</td><td>118</td><td>235</td><td>42</td><td>166</td><td>-260</td></tr><tr><td>Commodity Credit Corporation</td><td>17</td><td>28</td><td>2</td><td>-34</td><td>-99</td><td>7</td><td>253</td><td>30</td><td>23</td><td>90</td><td>38</td><td>114</td><td>-304</td></tr><tr><td>Unemployment Trust Fund</td><td>21</td><td>29</td><td>44</td><td>39</td><td>46</td><td>38</td><td>33</td><td>29</td><td>31</td><td>30</td><td>23</td><td>16</td><td>12</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>8</td><td>9</td><td>9</td><td>10</td><td>10</td><td>10</td><td>11</td><td>11</td><td>11</td><td>11</td><td>12</td><td>12</td><td>12</td></tr><tr><td>Railroad Retirement Account</td><td>10</td><td>11</td><td>10</td><td>11</td><td>11</td><td>11</td><td>10</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Other</td><td>34</td><td>62</td><td>22</td><td>48</td><td>-3</td><td>*</td><td>-34</td><td>14</td><td>-14</td><td>-26</td><td>-51</td><td>-46</td><td>-163</td></tr><tr><td>Subtotal</td><td>128</td><td>281</td><td>126</td><td>116</td><td>218</td><td>275</td><td>522</td><td>379</td><td>179</td><td>351</td><td>75</td><td>330</td><td>-403</td></tr><tr><td>Redemption of adjusted service bonds</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>*</td><td>*</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>*</td></tr><tr><td>Total cash outgo</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><td>4,470</td><td>4,738</td><td>5,076</td><td>5,539</td><td>5,989</td><td>6,204</td><td>5,950</td></tr><tr><td>EXCESS OF CASH OUTGO</td><td>1,017</td><td>1,490</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td>3,434</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,368</td><td>5,434</td><td>4,815</td></tr></table><p>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.</p><p>2/ Includes sale of commodity food stamps, Agricultural Marketing Administration.</p><p>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.</p><p>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.</p><p>5/ Includes transections under tranfers to trust accounts, etc.</p><p>6/ Beginning July 1942 National Youth Administration is included in war activities expenditures.</p><p>7/ Excludes accrued interest on United States savings bonds outstanding.</p><p>8/ Expenditures for war activities by the Reconstruction Finance Corporation prior to October 17, 1942, were included under "Other" Reconstruction Finance Corporation expenditures.</p>
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>Sep.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Total</th></tr><tr><td>Cash income</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>10,859</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>902</td><td>1,063</td><td>2,621</td><td>770</td><td>1,135</td><td></td><td></td></tr><tr><td>Cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>4,470</td><td>4,738</td><td>5,076</td><td>5,539</td><td>5,989</td><td>6,204</td><td>5,950</td><td></td><td></td></tr><tr><td>Excess of cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1936</td><td>182</td><td>249</td><td>-150</td><td>395</td><td>300</td><td>1,058</td><td>608</td><td>345</td><td>214</td><td>463</td><td>343</td><td>129</td><td>4,136</td></tr><tr><td>1937</td><td>173</td><td>224</td><td>-324</td><td>299</td><td>152</td><td>-167</td><td>120</td><td>25</td><td>-203</td><td>193</td><td>90</td><td>-251</td><td>331</td></tr><tr><td>1938</td><td>142</td><td>21</td><td>-293</td><td>455</td><td>146</td><td>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>2,932</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>3,414</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,368</td><td>5,434</td><td>4,815</td><td></td><td></td></tr></table>
17
CASH INCOME AND OUTGO OF THE TREASURY
GENERAL FUND OF THE TREASURY
—18—
19
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>1,854</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>2,812</td><td>984</td><td>1,024</td><td>661</td><td>143</td></tr><tr><td>1942</td><td>3,443</td><td>897</td><td>603</td><td>1,679</td><td>265</td></tr><tr><td>1941-November</td><td>2,544</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><tr><td>May</td><td>3,198</td><td>900</td><td>382</td><td>1,666</td><td>250</td></tr><tr><td>June</td><td>3,443</td><td>897</td><td>603</td><td>1,679</td><td>265</td></tr><tr><td>July</td><td>3,782</td><td>926</td><td>553</td><td>2,014</td><td>289</td></tr><tr><td>August</td><td>3,695</td><td>907</td><td>569</td><td>1,880</td><td>338</td></tr><tr><td>September</td><td>4,688</td><td>909</td><td>1,021</td><td>2,411</td><td>347</td></tr><tr><td>October</td><td>5,313</td><td>931</td><td>619</td><td>3,373</td><td>390</td></tr><tr><td>November</td><td>3,557</td><td>915</td><td>512</td><td>1,695</td><td>435</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>1446</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>1942</td><td>3,443</td><td>452</td><td>2,991</td><td>2,229</td><td>619</td><td>143</td></tr><tr><td>1941-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>3,816</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>3,867</td><td>305</td><td>3,562</td><td>2,802</td><td>617</td><td>143</td></tr><tr><td>March</td><td>3,857</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><tr><td>May</td><td>3,198</td><td>386</td><td>2,812</td><td>2,050</td><td>619</td><td>143</td></tr><tr><td>June</td><td>3,443</td><td>452</td><td>2,991</td><td>2,229</td><td>619</td><td>143</td></tr><tr><td>July</td><td>3,782</td><td>494</td><td>3,288</td><td>2,525</td><td>619</td><td>143</td></tr><tr><td>August</td><td>3,695</td><td>541</td><td>3,154</td><td>2,392</td><td>619</td><td>144</td></tr><tr><td>September</td><td>4,688</td><td>386</td><td>4,302</td><td>3,540</td><td>619</td><td>144</td></tr><tr><td>October</td><td>5,313</td><td>416</td><td>4,896</td><td>4,134</td><td>619</td><td>144</td></tr><tr><td>November</td><td>3,557</td><td>475</td><td>3,082</td><td>2,320</td><td>619</td><td>144</td></tr></table>
Source: Daily Treasury Statements.
1/ 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 $1,087 millions for the fiscal year 1937 is considered as a part of the working balance.
20
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>-781</td><td>769 6/</td><td>-3,209</td><td>1,739 1/</td><td>64</td><td>-</td><td>637</td><td>140</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>714</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>90</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>1942</td><td>358</td><td>344</td><td>-19,598</td><td>23,461</td><td>66</td><td>39</td><td>-3,625</td><td>14</td><td>-</td></tr><tr><td>1941-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><tr><td>May</td><td>-39</td><td>-39</td><td>-3,391</td><td>3,609</td><td>181</td><td>-9</td><td>-430</td><td>-</td><td>-</td></tr><tr><td>June</td><td>179</td><td>179</td><td>-2,037</td><td>3,852</td><td>-205</td><td>-14</td><td>-1,417</td><td>-</td><td>-</td></tr><tr><td>July</td><td>296</td><td>296</td><td>-4,413</td><td>4,714</td><td>55</td><td>20</td><td>-78</td><td>-</td><td>-</td></tr><tr><td>August</td><td>-134</td><td>-134</td><td>-4,628</td><td>4,549</td><td>197</td><td>10</td><td>-262</td><td>-</td><td>-</td></tr><tr><td>September</td><td>1,148</td><td>1,148</td><td>-3,404</td><td>4,798</td><td>-227</td><td>6</td><td>-25</td><td>-</td><td>-</td></tr><tr><td>October</td><td>594</td><td>594</td><td>-5,331</td><td>6,420</td><td>60</td><td>27</td><td>-583</td><td>-</td><td>-</td></tr><tr><td>November</td><td>-1,814</td><td>-1,814</td><td>-5,761</td><td>3,212</td><td>274</td><td>13</td><td>449</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ This is the net budget deficit. Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law.
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.
6/ 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.
1/ 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.
GOVERNMENT SECURITIES OUTSTANDING
- 21 -
22
Statement of the Public Debt and Guaranteed Obligations Outstanding
(in millions of dollars)
<table><tr><th></th><th colspan="9">End of fiscal year</th><th colspan="3">End of month</th></tr><tr><th></th><th>1933</th><th>1934</th><th>1935</th><th>1936</th><th>1937</th><th>1938</th><th>1939</th><th>1940</th><th>1941</th><th>1942</th><th>Sept.</th><th>Oct.</th><th>Nov.</th></tr><tr><td>Securities issued by the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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><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><td></td></tr><tr><td>Marketable 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><td></td></tr><tr><td>Treasury bills</td><td>954</td><td>1,404</td><td>2,053</td><td>2,354</td><td>2,303</td><td>1,154</td><td>1,308</td><td>1,302</td><td>1,603</td><td>2,508</td><td>4,619</td><td>5,126</td><td>5,721</td></tr><tr><td>Certificates of indebtedness</td><td>2,108</td><td>1,517</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,036</td><td>6,211</td><td>6,211</td><td>7,161</td></tr><tr><td>Treasury notes</td><td>4,548</td><td>6,653</td><td>10,023</td><td>11,381</td><td>10,617</td><td>9,147</td><td>7,243</td><td>6,383</td><td>5,698</td><td>6,689</td><td>7,958</td><td>10,095</td><td>10,095</td></tr><tr><td>Treasury bonds</td><td>5,216</td><td>9,333</td><td>12,684</td><td>17,168</td><td>19,936</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>38,085</td><td>41,418</td><td>43,381</td><td>43,381</td></tr><tr><td>Other bonds</td><td>9,007</td><td>7,177</td><td>2,190</td><td>200</td><td>198</td><td>197</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td><td>196</td></tr><tr><td>Total marketable issues</td><td>21,834</td><td>26,084</td><td>26,950</td><td>31,102</td><td>33,054</td><td>32,344</td><td>33,965</td><td>34,436</td><td>37,713</td><td>50,573</td><td>60,402</td><td>65,008</td><td>66,594</td></tr><tr><td>Non-marketable 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><td></td></tr><tr><td>U. S. savings bonds</td><td>-</td><td>-</td><td>62</td><td>316</td><td>800</td><td>1,238</td><td>1,868</td><td>2,905</td><td>4,314</td><td>10,188</td><td>12,479</td><td>13,381</td><td>14,079</td></tr><tr><td>Treasury notes - tax series</td><td>-</td><td>-</td><td>-</td><td>-</td><td>945</td><td>389</td><td>319</td><td>283</td><td>261</td><td>291</td><td>226</td><td>225</td><td>225</td></tr><tr><td>Adjusted service bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>241</td><td>229</td><td>94</td><td>102</td><td>111</td></tr><tr><td>Depository bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>79</td><td>16,936</td><td>18,672</td><td>20,117</td></tr><tr><td>Total non-marketable issues</td><td>-</td><td>-</td><td>62</td><td>1,261</td><td>1,188</td><td>1,556</td><td>2,151</td><td>3,166</td><td>4,555</td><td>13,510</td><td>16,936</td><td>18,672</td><td>20,117</td></tr><tr><td>Total public issues</td><td>21,834</td><td>26,084</td><td>27,012</td><td>32,363</td><td>34,242</td><td>33,900</td><td>36,116</td><td>37,602</td><td>42,267</td><td>64,083</td><td>77,338</td><td>83,680</td><td>86,671</td></tr><tr><td>Special 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><td></td></tr><tr><td>Adjusted Service Certificate Fund</td><td>92</td><td>118</td><td>156</td><td>127</td><td>38</td><td>26</td><td>20</td><td>11</td><td>19</td><td>18</td><td>18</td><td>18</td><td>18</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>-</td><td>100</td><td>100</td><td>95</td><td>85</td><td>101</td><td>56</td><td>90</td><td>95</td><td>95</td><td>95</td><td>95</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>267</td><td>662</td><td>1,177</td><td>1,738</td><td>2,381</td><td>3,133</td><td>3,322</td><td>3,310</td><td>3,300</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5</td><td>5</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Government Life Insurance Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>500</td><td>523</td><td>537</td><td>524</td><td>531</td><td>537</td><td>523</td><td>525</td><td>526</td></tr><tr><td>Government Retirement Funds</td><td>231</td><td>243</td><td>253</td><td>280</td><td>315</td><td>396</td><td>473</td><td>559</td><td>656</td><td>796</td><td>920</td><td>930</td><td>941</td></tr><tr><td>National Service Life Insurance Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3</td><td>39</td><td>87</td><td>101</td><td>121</td></tr><tr><td>Postal Savings System</td><td>-</td><td>35</td><td>125</td><td>100</td><td>30</td><td>45</td><td>128</td><td>97</td><td>88</td><td>56</td><td>57</td><td>57</td><td>57</td></tr><tr><td>Railroad Retirement Account</td><td>-</td><td>-</td><td>-</td><td>-</td><td>19</td><td>312</td><td>872</td><td>67</td><td>79</td><td>74</td><td>173</td><td>196</td><td>185</td></tr><tr><td>Unemployment Trust Fund</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,267</td><td>1,710</td><td>2,273</td><td>3,114</td><td>3,309</td><td>3,347</td><td>3,538</td></tr><tr><td>Total special issues</td><td>323</td><td>396</td><td>633</td><td>626</td><td>1,558</td><td>2,676</td><td>3,770</td><td>4,775</td><td>6,120</td><td>7,885</td><td>8,509</td><td>8,585</td><td>8,787</td></tr><tr><td>Total interest-bearing debt</td><td>22,158</td><td>26,480</td><td>27,645</td><td>32,989</td><td>35,800</td><td>36,576</td><td>39,886</td><td>42,376</td><td>48,387</td><td>71,968</td><td>85,847</td><td>92,265</td><td>95,458</td></tr><tr><td>Matured debt on which interest has ceased</td><td>66</td><td>54</td><td>231</td><td>169</td><td>119</td><td>141</td><td>142</td><td>205</td><td>205</td><td>98</td><td>102</td><td>86</td><td>90</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><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>United States savings stamps 1/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>181</td><td>200</td><td>216</td></tr><tr><td>United States notes (less gold reserve)</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td><td>191</td></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>119</td><td>322</td><td>629</td><td>424</td><td>310</td><td>252</td><td>215</td><td>190</td><td>173</td><td>159</td><td>157</td><td>156</td><td>155</td></tr><tr><td>Other debt bearing no interest</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>5</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>315</td><td>518</td><td>825</td><td>620</td><td>506</td><td>447</td><td>411</td><td>386</td><td>369</td><td>355</td><td>534</td><td>553</td><td>568</td></tr><tr><td>Total public debt outstanding</td><td>22,539</td><td>27,053</td><td>28,701</td><td>33,779</td><td>36,425</td><td>37,165</td><td>40,440</td><td>42,968</td><td>48,961</td><td>72,422</td><td>86,483</td><td>92,904</td><td>96,116</td></tr><tr><td>Securities guaranteed by the United States 2/</td><td></td><td></td><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>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><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><td></td></tr><tr><td>Marketable 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><td></td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>312</td><td>1,226</td><td>1,422</td><td>1,422</td><td>206</td><td>206</td><td>407</td><td>696</td><td>701</td><td>701</td><td>701</td><td>701</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1,410</td><td>1,379</td><td>1,269</td><td>1,269</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td></tr><tr><td>Federal Housing Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>3</td><td>8</td><td>17</td><td>21</td><td>21</td><td>21</td><td>21</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>114</td><td>114</td><td>226</td><td>114</td><td>114</td><td>114</td><td>114</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-</td><td>134</td><td>2,047</td><td>3,044</td><td>2,987</td><td>2,937</td><td>2,928</td><td>2,603</td><td>2,409</td><td>1,553</td><td>1,533</td><td>1,533</td><td>1,533</td></tr><tr><td>Reconstruction Finance Corporation</td><td>-</td><td>235</td><td>250</td><td>252</td><td>255</td><td>299</td><td>820</td><td>1,096</td><td>1,741</td><td>1,219</td><td>1,216</td><td>896</td><td>896</td></tr><tr><td>Total marketable issues</td><td>-</td><td>681</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>4,515</td><td>4,195</td><td>4,195</td></tr><tr><td>Non-marketable 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><td></td></tr><tr><td>Commodity Credit Corporation 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>37</td><td>48</td><td>48</td></tr><tr><td>Total interest-bearing debt</td><td>-</td><td>681</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,450</td><td>5,498</td><td>6,360</td><td>4,549</td><td>4,552</td><td>4,243</td><td>4,244</td></tr><tr><td>Matured debt on which interest has ceased</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>31</td><td>11</td><td>20</td><td>22</td><td>22</td><td>20</td></tr><tr><td>Total securities outstanding guaranteed by the United States</td><td>-</td><td>681</td><td>4,123</td><td>4,718</td><td>4,665</td><td>4,853</td><td>5,451</td><td>5,529</td><td>6,370</td><td>4,568</td><td>4,574</td><td>4,265</td><td>4,264</td></tr><tr><td>Total public debt and guaranteed obligations 2/</td><td></td><td></td><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>Interest-bearing debt</td><td>22,158</td><td>27,161</td><td>31,768</td><td>37,707</td><td>40,465</td><td>41,428</td><td>45,336</td><td>47,874</td><td>54,747</td><td>76,517</td><td>90,399</td><td>96,509</td><td>99,702</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>381</td><td>573</td><td>1,056</td><td>790</td><td>625</td><td>589</td><td>554</td><td>622</td><td>585</td><td>474</td><td>659</td><td>660</td><td>677</td></tr><tr><td>Total outstanding</td><td>22,539</td><td>27,734</td><td>32,824</td><td>38,497</td><td>41,089</td><td>42,018</td><td>45,890</td><td>48,496</td><td>55,332</td><td>76,991</td><td>91,058</td><td>97,169</td><td>100,379</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $500,000.
1/ United States savings stamps sold prior to October 1, 1942 were sold as obligations of the Postal Savings System; stamps sold commencing October 1, 1942 have been public debt obligations. The outstanding savings stamps which were obligations of the Postal Savings System became public debt obligations in three
2/ Excludes guaranteed securities which were sold directly to the Treasury. Conceive only of securities guaranteed by the United States as to both principal and interest.
3/ Demand obligations.
23
Composition of the Interest-Bearing Public Debt
<table><tr><th>End of fiscal year or month</th><th colspan="5">Interest-bearing public debt outstanding 1/ (in millions of dollars)</th><th colspan="5">Percent of interest-bearing public debt</th></tr><tr><th></th><th>Total</th><th>Bonds</th><th>Notes</th><th>Bills and certificates of indebtedness</th><th>Special issues</th><th>Total</th><th>Bonds</th><th>Notes</th><th>Bills and certificates of indebtedness</th><th>Special issues</th></tr><tr><td>1933</td><td>22,158</td><td>14,223</td><td>4,548</td><td>3,063</td><td>323</td><td>100.0</td><td>64.2</td><td>20.5</td><td>13.8</td><td>1.5</td></tr><tr><td>1934</td><td>26,480</td><td>16,510</td><td>6,653</td><td>2,921</td><td>396</td><td>100.0</td><td>62.4</td><td>25.1</td><td>11.0</td><td>1.5</td></tr><tr><td>1935</td><td>27,645</td><td>14,936</td><td>10,023</td><td>2,053</td><td>633</td><td>100.0</td><td>54.0</td><td>36.3</td><td>7.4</td><td>2.3</td></tr><tr><td>1936</td><td>32,389</td><td>18,628</td><td>11,381</td><td>2,354</td><td>626</td><td>100.0</td><td>56.5</td><td>34.5</td><td>7.1</td><td>1.9</td></tr><tr><td>1937</td><td>35,800</td><td>21,322</td><td>10,617</td><td>2,303</td><td>1,558</td><td>100.0</td><td>59.6</td><td>29.7</td><td>6.4</td><td>4.3</td></tr><tr><td>1938</td><td>36,576</td><td>23,599</td><td>9,147</td><td>1,154</td><td>2,676</td><td>100.0</td><td>64.5</td><td>25.0</td><td>3.2</td><td>7.3</td></tr><tr><td>1939</td><td>39,886</td><td>27,566</td><td>7,243</td><td>1,308</td><td>3,775</td><td>100.0</td><td>69.1</td><td>18.2</td><td>3.3</td><td>9.5</td></tr><tr><td>1940</td><td>42,376</td><td>29,917</td><td>6,383</td><td>1,302</td><td>4,775</td><td>100.0</td><td>70.6</td><td>15.1</td><td>3.1</td><td>11.3</td></tr><tr><td>1941</td><td>48,387</td><td>34,966</td><td>5,698</td><td>1,603</td><td>6,120</td><td>100.0</td><td>72.3</td><td>11.8</td><td>3.3</td><td>12.6</td></tr><tr><td>1942</td><td>71,968</td><td>48,776</td><td>9,703</td><td>5,604</td><td>7,885</td><td>100.0</td><td>67.8</td><td>13.4</td><td>7.8</td><td>11.0</td></tr><tr><td>1941-November</td><td>54,536</td><td>37,877</td><td>8,149</td><td>1,703</td><td>6,806</td><td>100.0</td><td>69.5</td><td>14.9</td><td>3.1</td><td>12.5</td></tr><tr><td>December</td><td>57,451</td><td>40,000</td><td>8,468</td><td>2,002</td><td>6,982</td><td>100.0</td><td>69.6</td><td>14.7</td><td>3.5</td><td>12.2</td></tr><tr><td>1942-January</td><td>59,531</td><td>42,078</td><td>8,288</td><td>2,101</td><td>7,063</td><td>100.0</td><td>70.7</td><td>13.9</td><td>3.5</td><td>11.9</td></tr><tr><td>February</td><td>61,895</td><td>44,305</td><td>8,398</td><td>2,002</td><td>7,190</td><td>100.0</td><td>71.6</td><td>13.5</td><td>3.2</td><td>11.6</td></tr><tr><td>March</td><td>61,940</td><td>44,847</td><td>8,107</td><td>1,652</td><td>7,333</td><td>100.0</td><td>72.4</td><td>13.1</td><td>2.7</td><td>11.8</td></tr><tr><td>April</td><td>64,496</td><td>45,363</td><td>8,315</td><td>3,460</td><td>7,358</td><td>100.0</td><td>70.3</td><td>12.9</td><td>5.4</td><td>11.4</td></tr><tr><td>May</td><td>68,108</td><td>48,157</td><td>8,670</td><td>3,764</td><td>7,518</td><td>100.0</td><td>70.8</td><td>12.7</td><td>5.5</td><td>11.0</td></tr><tr><td>June</td><td>71,968</td><td>48,776</td><td>9,703</td><td>5,604</td><td>7,885</td><td>100.0</td><td>67.8</td><td>13.4</td><td>7.8</td><td>11.0</td></tr><tr><td>July</td><td>76,694</td><td>51,765</td><td>10,046</td><td>6,759</td><td>8,125</td><td>100.0</td><td>67.5</td><td>13.1</td><td>8.8</td><td>10.6</td></tr><tr><td>August</td><td>81,244</td><td>53,680</td><td>10,428</td><td>8,873</td><td>8,262</td><td>100.0</td><td>66.1</td><td>12.8</td><td>10.9</td><td>10.2</td></tr><tr><td>September</td><td>85,847</td><td>54,413</td><td>12,095</td><td>10,829</td><td>8,509</td><td>100.0</td><td>63.4</td><td>14.1</td><td>12.5</td><td>9.9</td></tr><tr><td>October</td><td>92,265</td><td>57,285</td><td>15,059</td><td>11,336</td><td>8,585</td><td>100.0</td><td>62.1</td><td>16.3</td><td>12.3</td><td>9.3</td></tr><tr><td>November</td><td>95,458</td><td>57,991</td><td>15,798</td><td>12,882</td><td>8,787</td><td>100.0</td><td>60.8</td><td>16.5</td><td>13.5</td><td>9.2</td></tr></table>
Source: Daily Treasury Statements. 1/ Does not include securities issued by Federal agencies and guaranteed by the United States.
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>Adjusted service bonds</th><th>Exchangee</th><th>Special issues</th><th>Total</th><th>Cash</th><th>Exchanges</th><th>Special issues</th></tr><tr><td>1933</td><td>9,697.1</td><td>9,392.0</td><td>-</td><td>-</td><td>305.0</td><td>6,845.4</td><td>6,354.6</td><td>-</td><td>290.8</td><td>3,051.7</td></tr><tr><td>1934</td><td>13,583.0</td><td>9,160.9</td><td>-</td><td>4,158.5</td><td>263.7</td><td>9,068.5</td><td>4,719.5</td><td>4,158.5</td><td>190.6</td><td>4,514.5</td></tr><tr><td>1935</td><td>13,125.5</td><td>5,715.9</td><td>-</td><td>6,963.7</td><td>445.9</td><td>11,477.7</td><td>4,305.1</td><td>6,963.7</td><td>208.8</td><td>1,047.8</td></tr><tr><td>1936</td><td>14,120.8</td><td>8,958.0</td><td>1,668.8</td><td>2,973.2</td><td>515.9</td><td>9,043.2</td><td>5,542.0</td><td>2,973.2</td><td>523.0</td><td>5,077.7</td></tr><tr><td>1937</td><td>9,589.4</td><td>6,198.6</td><td>140.6</td><td>1,751.4</td><td>1,498.9</td><td>6,943.3</td><td>4,625.0</td><td>1,751.4</td><td>557.0</td><td>2,046.1</td></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>1942</td><td>37,164.3</td><td>30,690.9</td><td>1.3</td><td>596.0</td><td>5,876.2</td><td>13,703.3</td><td>8,996.1</td><td>596.0</td><td>4,111.3</td><td>23,461.0</td></tr><tr><td>1941-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>2,893.3</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>2,073.5</td></tr><tr><td>February</td><td>3,160.5</td><td>2,999.8</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><tr><td>May</td><td>4,300.0</td><td>4,119.1</td><td>.1</td><td>-</td><td>180.7</td><td>690.7</td><td>670.0</td><td>-</td><td>20.7</td><td>3,609.3</td></tr><tr><td>June</td><td>9,210.9</td><td>5,214.4</td><td>.1</td><td>-</td><td>3,996.4</td><td>5,359.0</td><td>1,729.8</td><td>-</td><td>3,629.2</td><td>3,551.8</td></tr><tr><td>July</td><td>5,277.0</td><td>5,008.4</td><td>.1</td><td>-</td><td>268.5</td><td>563.2</td><td>534.6</td><td>-</td><td>28.7</td><td>4,713.7</td></tr><tr><td>August</td><td>5,578.3</td><td>5,384.6</td><td>.1</td><td>-</td><td>193.7</td><td>1,029.3</td><td>973.2</td><td>-</td><td>55.1</td><td>4,549.0</td></tr><tr><td>September</td><td>8,168.4</td><td>7,829.7</td><td>.1</td><td>48.6</td><td>290.0</td><td>3,370.0</td><td>3,278.6</td><td>48.6</td><td>42.8</td><td>4,798.4</td></tr><tr><td>October</td><td>7,929.4</td><td>7,806.9</td><td>.1</td><td>19.7</td><td>102.7</td><td>1,509.0</td><td>1,462.2</td><td>19.7</td><td>27.2</td><td>6,420.3</td></tr><tr><td>November</td><td>6,729.9</td><td>6,506.5</td><td>.1</td><td>-</td><td>223.3</td><td>3,517.9</td><td>3,496.8</td><td>-</td><td>21.2</td><td>3,211.9</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000.
COMPOSITION OF UNITED STATES GOVERNMENT INTEREST
AND GUARANTEED OBLIGATIONS
DEBT
24
25
Computed Annual Interest Charge and Computed Rate of Interest on the Interest-Bearing Public Debt and Guaranteed Obligations
(in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Total issued and guaranteed by the United States</th><th colspan="3">Total issued by the United States 1/</th><th colspan="3">Total guaranteed by the United States 2/</th></tr><tr><th></th><th>Interest-bearing debt outstanding</th><th>Computed annual interest charge</th><th>Computed rate of interest (Percent)</th><th>Interest-bearing debt outstanding</th><th>Computed annual interest charge</th><th>Computed rate of interest (Percent)</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>22,158</td><td>742</td><td>3.350</td><td>22,158</td><td>742</td><td>3.350</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>27,161</td><td>861</td><td>3.169</td><td>26,480</td><td>842</td><td>3.181</td><td>681</td><td>18</td><td>2.710</td></tr><tr><td>1935</td><td>31,768</td><td>863</td><td>2.716</td><td>27,645</td><td>751</td><td>2.715</td><td>4,123</td><td>112</td><td>2.720</td></tr><tr><td>1936</td><td>37,707</td><td>970</td><td>2.573</td><td>32,989</td><td>845</td><td>2.562</td><td>4,718</td><td>125</td><td>2.650</td></tr><tr><td>1937</td><td>40,465</td><td>1,047</td><td>2.588</td><td>35,800</td><td>924</td><td>2.582</td><td>4,665</td><td>123</td><td>2.633</td></tr><tr><td>1938</td><td>41,428</td><td>1,068</td><td>2.579</td><td>36,576</td><td>947</td><td>2.589</td><td>4,853</td><td>121</td><td>2.498</td></tr><tr><td>1939</td><td>45,336</td><td>1,149</td><td>2.534</td><td>39,886</td><td>1,037</td><td>2.600</td><td>5,450</td><td>112</td><td>2.052</td></tr><tr><td>1940</td><td>47,874</td><td>1,203</td><td>2.514</td><td>42,376</td><td>1,095</td><td>2.583</td><td>5,498</td><td>109</td><td>1.978</td></tr><tr><td>1941</td><td>54,747</td><td>1,335</td><td>2.438</td><td>48,387</td><td>1,218</td><td>2.518</td><td>6,360</td><td>117</td><td>1.834</td></tr><tr><td>1942</td><td>76,517</td><td>1,729</td><td>2.260</td><td>71,968</td><td>1,644</td><td>2.285</td><td>4,549</td><td>85</td><td>1.851</td></tr><tr><td>1941-November</td><td>60,852</td><td>1,444</td><td>2.373</td><td>54,536</td><td>1,325</td><td>2.429</td><td>6,316</td><td>119</td><td>1.885</td></tr><tr><td>December</td><td>63,768</td><td>1,503</td><td>2.357</td><td>57,451</td><td>1,384</td><td>2.409</td><td>6,317</td><td>119</td><td>1.885</td></tr><tr><td>1942-January</td><td>65,204</td><td>1,537</td><td>2.358</td><td>59,531</td><td>1,431</td><td>2.404</td><td>5,673</td><td>107</td><td>1.879</td></tr><tr><td>February</td><td>67,568</td><td>1,594</td><td>2.360</td><td>61,895</td><td>1,488</td><td>2.404</td><td>5,673</td><td>107</td><td>1.879</td></tr><tr><td>March</td><td>67,606</td><td>1,609</td><td>2.380</td><td>61,940</td><td>1,503</td><td>2.426</td><td>5,666</td><td>106</td><td>1.878</td></tr><tr><td>April</td><td>70,163</td><td>1,634</td><td>2.329</td><td>64,496</td><td>1,527</td><td>2.368</td><td>5,666</td><td>106</td><td>1.878</td></tr><tr><td>May</td><td>73,775</td><td>1,706</td><td>2.312</td><td>68,108</td><td>1,600</td><td>2.349</td><td>5,667</td><td>106</td><td>1.878</td></tr><tr><td>June</td><td>76,517</td><td>1,729</td><td>2.260</td><td>71,968</td><td>1,644</td><td>2.285</td><td>4,549</td><td>85</td><td>1.851</td></tr><tr><td>July</td><td>81,245</td><td>1,809</td><td>2.227</td><td>76,694</td><td>1,725</td><td>2.249</td><td>4,551</td><td>84</td><td>1.848</td></tr><tr><td>August</td><td>85,811</td><td>1,880</td><td>2.191</td><td>81,244</td><td>1,736</td><td>2.210</td><td>4,567</td><td>84</td><td>1.843</td></tr><tr><td>September</td><td>90,399</td><td>1,938</td><td>2.143</td><td>85,847</td><td>1,853</td><td>2.159</td><td>4,552</td><td>84</td><td>1.848</td></tr><tr><td>October</td><td>96,509</td><td>2,045</td><td>2.119</td><td>92,265</td><td>1,964</td><td>2.129</td><td>4,243</td><td>81</td><td>1.918</td></tr><tr><td>November</td><td>99,702</td><td>2,092</td><td>2.098</td><td>95,458</td><td>2,010</td><td>2.106</td><td>4,244</td><td>81</td><td>1.918</td></tr></table>
Source: 1/ Daily Treasury Statements. 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. For the purposes of computing the annual interest charge and rate of interest on United States
seiving bonds, Series A-E are considered to yield 2.90 percent per annum and Series F is considered to yield 2.53 percent. Excludes securities guaranteed by the United States which were sold directly to the Treasury. Consists only of securities guaranteed by the United States as to both principal and interest.
26
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of November 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 Dec.</td><td>Treasury bills 1-3/4% Treasury note C - 12/15/42</td><td>1,907 232</td><td></td><td></td><td>2,139</td><td>2,139</td></tr><tr><td></td><td>Total</td><td>2,139</td><td>-</td><td>-</td><td></td><td></td></tr><tr><td>1943 Feb.</td><td>Treasury bills 5/8% Certificates of indebtedness A - 2/1/43</td><td>3,815</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3/4% Treasury note D - 3/15/43</td><td>1,588</td><td></td><td></td><td></td><td></td></tr><tr><td>May.</td><td>3/4% CCC note F - 5/1/43</td><td>66</td><td></td><td></td><td></td><td></td></tr><tr><td>May.</td><td>.65% Certificates of indebtedness C - 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>1,506</td><td></td><td></td><td></td><td></td></tr><tr><td>June.</td><td>1-3/8% Treasury bond - 6/15/43-47</td><td>629</td><td>454</td><td></td><td></td><td></td></tr><tr><td>July.</td><td>1-1/8% RFC note V - 7/15/43</td><td>324</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>7/8% Certificates of indebtedness B - 8/1/43</td><td>1,609</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 - 10/15/43-45</td><td></td><td>1,401</td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>7/8% Certificates of indebtedness D - 11/1/43</td><td>2,035</td><td></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>12,563</td><td>1,855</td><td>-</td><td>14,418</td><td>12,563</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 - 3/15/44-46</td><td></td><td>95</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>1% RFC note W - 4/15/44</td><td>571</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>1-1/4% Treasury bond - 4/15/44-46</td><td></td><td>1,519</td><td></td><td></td><td></td></tr><tr><td>May.</td><td>3/4% HOLC bond A - 5/1/44-52</td><td></td><td>779</td><td></td><td></td><td></td></tr><tr><td>May.</td><td>3/4% FMC bond - 5/15/44-49</td><td>416</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>283</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1% Treasury note C - 9/15/44</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3/4% Treasury note D (Nat. Defense Series) - 9/15/44</td><td>635</td><td>1,037</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>4% Treasury bond - 12/15/44-54</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% CCC note G - 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>Mar.</td><td>1-1/4% Treasury note C - 3/15/45</td><td>1,606</td><td></td><td></td><td></td><td></td></tr><tr><td>June.</td><td>1-1/2% HOLC bond N - 6/1/45-47</td><td></td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond - 9/15/45-47</td><td></td><td>1,214</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>3-1/4% Treasury bond - 10/15/43-45</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 (Nat. Defense Series) - 12/15/45</td><td>531</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>3,808</td><td>1,969</td><td>1,401</td><td>5,777</td><td>5,209</td></tr><tr><td>1946-Jan.</td><td>3/4% 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 - 3/15/46-56</td><td></td><td>489</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>3-1/4% Treasury bond - 4/15/44-46</td><td></td><td></td><td>1,519</td><td></td><td></td></tr><tr><td>June.</td><td>3/4% Treasury bond - 6/15/46-48</td><td></td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June.</td><td>1-1/8% Treasury bond - 6/15/46-49</td><td></td><td>819</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/2% Treasury note B - 12/15/46</td><td>3,261</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>3,780</td><td>2,344</td><td>1,519</td><td>6,124</td><td>5,299</td></tr><tr><td>1947-Jan.</td><td>3/4% 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 N - 6/1/45-47</td><td></td><td></td><td>755</td><td></td><td></td></tr><tr><td>June.</td><td>3-3/8% Treasury bond - 6/15/43-47</td><td></td><td></td><td>454</td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond - 9/15/45-47</td><td></td><td></td><td>1,214</td><td></td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond - 10/15/47-52</td><td>701</td><td>759</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/47</td><td></td><td></td><td>2,423</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>3/4% Treasury bond - 6/15/46-48</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>3/4% FMC bond - 5/15/44-49</td><td></td><td></td><td>835</td><td></td><td></td></tr><tr><td>June.</td><td>3-1/8% Treasury bond - 6/15/46-49</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>Sept.</td><td>2% Treasury bond - 9/15/49-51</td><td></td><td>1,292</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>491</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>Dec.</td><td>2% Treasury bond - 12/15/49-51</td><td></td><td>2,098</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>-</td><td>6,682</td><td>1,654</td><td>6,682</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>Mar.</td><td>2% Treasury bond - 3/15/50-52</td><td></td><td>1,963</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>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>571</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>-</td><td>3,149</td><td>1,687</td><td>3,149</td><td>1,687</td></tr></table>
(Continued on following page)
27
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of November 30, 1942 - (Continued)
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th>Fixed-maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th colspan="2">Total annual maturities</th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</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><td>1951-Mar....</td><td>2-3/4% Treasury bond</td><td>3/15/48-51</td><td></td><td>1,223</td><td>1,014</td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>6/15/49-51</td><td>1,627</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>6/15/51-54</td><td></td><td>1,292</td><td></td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>9/15/49-51</td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond</td><td>9/15/51-55</td><td>1,118</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>12/15/51-53</td><td>510</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>12/15/49-51</td><td></td><td>2,098</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>4,011</td><td>5,628</td><td>4,011</td><td>5,628</td></tr><tr><td>1952-Mar....</td><td>2-1/2% Treasury bond</td><td>3/15/52-54</td><td>1,024</td><td></td><td></td><td></td></tr><tr><td>Mar....</td><td>2% Treasury bond</td><td>3/15/50-52</td><td></td><td>1,963</td><td></td><td></td></tr><tr><td>May....</td><td>3% HOLC bond A</td><td>5/1/44-52</td><td>1,501</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>6/15/52-55</td><td></td><td>1,186</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>9/15/50-52</td><td></td><td>759</td><td></td><td></td></tr><tr><td>Oct....</td><td>4-1/4% Treasury bond</td><td>10/15/47-52</td><td></td><td>491</td><td></td><td></td></tr><tr><td>Dec....</td><td>3-1/3% Treasury bond</td><td>12/15/49-52</td><td></td><td></td><td>2,524</td><td>5,178</td></tr><tr><td>Total....</td><td></td><td></td><td>2,524</td><td>5,178</td><td></td><td></td></tr><tr><td>1953-June....</td><td>2% Treasury bond</td><td>6/15/53-55</td><td>725</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>12/15/49-53</td><td></td><td>1,786</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>12/15/51-53</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</td><td>3/15/52-54</td><td></td><td>1,024</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>6/15/51-54</td><td>681</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>6/15/54-56</td><td></td><td>1,627</td><td></td><td></td></tr><tr><td>Dec....</td><td>4% Treasury bond</td><td>12/15/44-54</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</td><td>3/15/55-60</td><td>2,611</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>6/15/52-55</td><td></td><td>1,501</td><td></td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>6/15/53-55</td><td></td><td>725</td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond</td><td>9/15/51-55</td><td></td><td>755</td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>12/15/51-55</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</td><td>3/15/46-56</td><td>1,449</td><td></td><td></td><td></td></tr><tr><td>Mar....</td><td>2-1/2% Treasury bond</td><td>3/15/56-58</td><td></td><td>489</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>6/15/54-56</td><td></td><td>681</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treasury bond</td><td>9/15/56-59</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</td><td>3/15/56-58</td><td>919</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>6/15/58-63</td><td></td><td>1,449</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</td><td>9/15/56-59</td><td></td><td>982</td><td></td><td></td></tr><tr><td>1960-Mar....</td><td>2-7/8% Treasury bond</td><td>3/15/55-60</td><td>1,485</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-3/4% Treasury bond</td><td>12/15/60-65</td><td></td><td>2,611</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</td><td>6/1/61</td><td>50</td><td></td><td></td><td></td></tr><tr><td>1962-June....</td><td>2-1/2% Treasury bond</td><td>6/15/62-67</td><td>2,118</td><td></td><td>50</td><td>50</td></tr><tr><td>1963-June....</td><td>2-3/4% Treasury bond</td><td>6/15/58-63</td><td></td><td>919</td><td></td><td></td></tr><tr><td>1964-Mar....</td><td>3-1/4% FMC bond</td><td>3/15/44-64</td><td>95</td><td></td><td></td><td></td></tr><tr><td>1965-Dec....</td><td>2-3/4% Treasury bond</td><td>12/15/60-65</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-June....</td><td>2-1/2% Treasury bond</td><td>6/15/62-67</td><td></td><td>2,118</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>9/15/67-72</td><td>2,716</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>2,716</td><td>2,118</td><td>2,716</td><td>2,118</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</td><td>9/15/67-72</td><td></td><td>2,716</td><td></td><td></td></tr></table>
Source: Daily Treasury Statement, and reports to the Treasury. 1/ Excludes postal savings 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.
28
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness 1/
Since January 1, 1939
(In millions of dollars)
<table><tr><th rowspan="2">Date of announcement</th><th rowspan="2">Date of financing</th><th colspan="5">Description of new Treasury security 2/</th><th colspan="3">Amount issued</th><th rowspan="2">Public cash subcriptions tendered</th><th colspan="4">Description of security refunded</th></tr><tr><th colspan="2">Date of issue</th><th>Coupon rate (percent)</th><th colspan="2">Call and maturity dates</th><th colspan="2">Term</th><th rowspan="2">Total</th><th>For cash</th><th>For exchange</th><th>Class of security</th><th>Coupon rate (percent)</th><th>Call and maturity dates</th><th>Date of original issue</th></tr><tr><th>Notes</th><th>Bonds</th><th>Yrs.</th><th>Moe.</th><th>Yrs.</th><th>Moe.</th><th>Public account 3/</th><th></th><th></th><th></th><th></th></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>-</td><td>2-1/2</td><td>12/15/43 9/15/50-52 12/15/60-65</td><td>-</td><td>-</td><td>5</td><td>-</td><td>53</td><td>-</td><td>-</td><td>53</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>416</td><td>-</td><td>-</td><td>416</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>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>515</td><td>-</td><td>-</td><td>515</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>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>1/4</td><td>11</td><td>1/4</td><td>571</td><td>521</td><td>50</td><td>-</td><td>6,284</td><td>-</td><td>-</td><td>1-3/8</td><td>12/15/39</td><td>7/15/35</td></tr><tr><td>12/12</td><td>12/22</td><td>12/22/39</td><td>1</td><td>-</td><td>2-1/4</td><td>9/15/44 12/15/51-53</td><td>11</td><td>11-3/4</td><td>13</td><td>11-3/4</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><tr><td></td><td>12/22</td><td>12/22/39</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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>718</td><td>-</td><td>718</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>279</td><td>-</td><td>279</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>13</td><td>10-3/4</td><td>15</td><td>681</td><td>631</td><td>50</td><td>-</td><td>6,605</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>12</td><td>8-1/4</td><td>14</td><td>8-1/4</td><td>725</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></tr></table>
Offerlags la 1941
<table><tr><td>1/23</td><td>1/31</td><td>1/31/41</td><td>3/4 T</td><td>-</td><td>9/15/44</td><td>-</td><td>-</td><td>3</td><td>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>-</td><td>3/15/43</td><td>-</td><td>-</td><td>2</td><td>-</td><td>32</td><td>-</td><td>-</td><td>5</td><td>-</td><td>Treas.bond</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td></tr><tr><td></td><td></td><td>3/15/41</td><td>-</td><td>2</td><td>3/15/48-50</td><td>7</td><td>-</td><td>9</td><td>-</td><td>1,116</td><td>-</td><td>-</td><td>482</td><td>-</td><td>Treas.note</td><td>1-1/2</td><td>3/15/41</td><td>3/16/31</td></tr><tr><td>3/19</td><td>3/31</td><td>3/15/41 1/3/31/41</td><td>3/4 T</td><td>-</td><td>2-1/2 T</td><td>3/15/43</td><td>-</td><td>2</td><td>-</td><td>33</td><td>-</td><td>-</td><td>33</td><td>-</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 7/6/2/41</td><td>3/4 T</td><td>-</td><td>2-1/2 T</td><td>3/15/43</td><td>14</td><td>9-1/2</td><td>16</td><td>1,449</td><td>662</td><td>-</td><td>1</td><td>-</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</td><td>10-3/4</td><td>30</td><td>10-3/4</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>-</td><td>3/15/46</td><td>-</td><td>-</td><td>4</td><td>4-1/2</td><td>503</td><td>-</td><td>-</td><td>299 8/203 8/</td><td>-</td><td>RFC note</td><td>7/8</td><td>11/1/41</td><td>11/1/38</td></tr><tr><td>12/14</td><td>12/15</td><td>12/15/41 10/20/41 7/</td><td>-</td><td>2-1/2 T</td><td>12/15/51-55</td><td>10</td><td>-</td><td>14</td><td>-</td><td>533</td><td>533</td><td>-</td><td>-</td><td>4,728</td><td>CCC note</td><td>1</td><td>11/15/41</td><td>11/2/39</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>9/15/67-72</td><td>25</td><td>10-3/4</td><td>30</td><td>10-3/4</td><td>1,120</td><td>1,070</td><td>50</td><td>-</td><td>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</td><td>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>-</td><td>406</td><td>-</td><td>Treas.note</td><td>1-3/4</td><td>3/15/42</td><td>6/15/37</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></td><td></td><td></td><td>308 8/</td><td>-</td><td>RFC note</td><td>7/8</td><td>1/15/42</td><td>2/15/39</td></tr><tr><td>2/13</td><td>2/25</td><td>2/25/42</td><td>-</td><td>2-1/4</td><td>T</td><td>6/15/52-55</td><td>10</td><td>3-2/3</td><td>13</td><td>3-2/3</td><td>1,511</td><td>1,511</td><td>-</td><td>205 8/</td><td>-</td><td>FFMC bond</td><td>3</td><td>1/15/42-47</td><td>1/15/35</td></tr><tr><td>4/6</td><td>4/15</td><td>4/15/42</td><td>1/2 T9/</td><td>-</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>96 8/</td><td>-</td><td>FFMC bond</td><td>2-3/4</td><td>3/1/42-47</td><td>3/1/35</td></tr><tr><td>5/4</td><td>5/5</td><td>5/5/42</td><td>-</td><td>7-1/2</td><td>T</td><td>6/15/62-67</td><td>20</td><td>1-1/3</td><td>25</td><td>1-1/3</td><td>882</td><td>882</td><td>-</td><td></td><td>-</td><td>-</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>T</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>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>5/25</td><td>6/5</td><td>6/5/42</td><td>1-1/2 T</td><td>-</td><td></td><td>12/15/46</td><td>-</td><td>-</td><td>4</td><td>6-1/3</td><td>1,118</td><td>-</td><td>-</td><td>846</td><td>-</td><td>HOIC bond</td><td>2-1/4</td><td>7/1/42-44</td><td>7/1/35</td></tr><tr><td>6/18</td><td>6/25</td><td>6/25/42</td><td>5/8 T9/</td><td>1/2</td><td>T</td><td>2/1/43</td><td>-</td><td>-</td><td>7</td><td>7</td><td>1,588</td><td>1,588</td><td>-</td><td>272</td><td>-</td><td>RFC note</td><td>1</td><td>7/1/42</td><td>11/10/39</td></tr><tr><td>7/8</td><td>7/15</td><td>7/15/42</td><td>-</td><td>2</td><td>T</td><td>12/15/49-51</td><td>7</td><td>5</td><td>9</td><td>5</td><td>2,098</td><td>2,098</td><td>-</td><td></td><td>3,114</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>8/3</td><td>8/13</td><td>5/5/42</td><td>1/</td><td>2-1/2</td><td>T</td><td>6/15/62-67</td><td>20</td><td>1-1/3</td><td>25</td><td>1-1/3</td><td>1,236</td><td>1,236</td><td>-</td><td></td><td>3,849</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>8/6</td><td>8/15</td><td>8/15/42</td><td>7/8 T9/</td><td>-</td><td></td><td>8/1/43</td><td>-</td><td>-</td><td>-</td><td>1-1/2</td><td>1,609</td><td>1,609</td><td>-</td><td></td><td>1,236</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/10</td><td>9/21</td><td>9/21/42</td><td>.65 T9/</td><td>-</td><td></td><td>5/1/43</td><td>-</td><td>-</td><td>-</td><td>7-1/3</td><td>1,506</td><td>1,506</td><td>-</td><td></td><td>3,273</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/10</td><td>9/25</td><td>9/25/42</td><td>1-1/4 T</td><td>-</td><td></td><td>3/15/45</td><td>-</td><td>-</td><td>2</td><td>5-2/3</td><td>1,606</td><td>1,606</td><td>-</td><td></td><td>1,992</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/8</td><td>10/15</td><td>6/5/42</td><td>1-1/2 T</td><td>-</td><td></td><td>12/15/46</td><td>-</td><td>-</td><td>4</td><td>6-1/3</td><td>2,142</td><td>2,142</td><td>-</td><td></td><td>3,637</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/8</td><td>10/19</td><td>10/19/42</td><td>1/</td><td>2</td><td>T</td><td>3/15/50-52</td><td>7</td><td>5</td><td>9</td><td>5</td><td>1,963</td><td>1,963</td><td>-</td><td></td><td>2,142</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/26</td><td>11/2</td><td>11/2/42</td><td>7/8 T9/</td><td>-</td><td></td><td>11/1/43</td><td>-</td><td>-</td><td>1</td><td>-</td><td>2,035</td><td>2,035</td><td>-</td><td></td><td>1,963</td><td>-</td><td>-</td><td>-</td><td>-</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>10/</td><td></td><td>-</td><td></td><td>3,105</td><td>Ctr. of indebtedness</td><td>1/2</td><td>11/1/42</td><td>4/15/42</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>-</td><td>2-1/2</td><td>T</td><td>12/15/63-68</td><td>21</td><td>1/2</td><td>26</td><td>1/2</td><td>11/</td><td></td><td>-</td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>-</td><td>1-3/4</td><td>T</td><td>6/15/48</td><td>-</td><td>-</td><td>5</td><td>6-1/2</td><td></td><td></td><td>-</td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>7/8 T9/</td><td>-</td><td></td><td>12/1/43</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><td>-</td></tr></table>
Back Figures: For period between July 1, 1932 and December 31, 1938 see Annual Report of the Secretary of the Treasury for 1940, pp. 53-54, Taxable issue.
1/ A complete record of market financing operations conducted by the Treasury for agencies issuing securities guaranteed by the United States may be found in the July 1942 issue of the "Treasury Bulletin", page 64.
2/ Unless otherwise indicated, each offering was at par.
3/ The amounts shown in this column were sold to Government investment accounts direct from amounts set aside for this purpose.
4/ Additional offering at 101 of security already outstanding.
5/ Additional offering at 102-1/2 of security already outstanding.
6/ Additional offering at 102-3/8 of security already outstanding.
7/ Additional offering at par of security already outstanding.
8/ Proceeds of payment of refunded security applied to payment for new issue - in effect an exchange and so treated in this statement. Certificate of indebtedness.
9/ Issued primarily for refunding maturing security.
10/ Open for subscription beginning December 1, 1942. Final figures not yet available.
29
Offerings and Maturities of Treasury Bills, Beginning November 1, 1941
<table><tr><th rowspan="2">Date of new issue or of maturity of old issue</th><th colspan="6">Date on new issues</th><th rowspan="2">Amount of maturing issue</th><th rowspan="2">Total bills outstanding (as of date shown in first column)</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/ (Percent)</th><th>(In millions of dollars)</th><th>(In millions of dollars)</th></tr><tr><td>1941-Nov. 5</td><td>1942-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>150.9</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>0.263</td><td>200.2</td><td>2,051.3</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 5</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. 16</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 15</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><tr><td>May 6</td><td>Aug. 5</td><td>91</td><td>354.6</td><td>150.4</td><td>99.910</td><td>0.358</td><td>150.1</td><td>1,953.7</td></tr><tr><td>May 13</td><td>Aug. 12</td><td>91</td><td>566.4</td><td>250.7</td><td>99.907</td><td>0.368</td><td>150.0</td><td>2,054.3</td></tr><tr><td>May 20</td><td>Aug. 19</td><td>91</td><td>567.2</td><td>251.7</td><td>99.908</td><td>0.355</td><td>150.0</td><td>2,156.0</td></tr><tr><td>May 27</td><td>Aug. 25</td><td>91</td><td>461.3</td><td>251.0</td><td>99.908</td><td>0.365</td><td>150.4</td><td>2,256.6</td></tr><tr><td>June 3</td><td>Sept. 2</td><td>91</td><td>496.6</td><td>251.3</td><td>99.908</td><td>0.365</td><td>150.5</td><td>2,357.4</td></tr><tr><td>June 10</td><td>Sept. 9</td><td>91</td><td>690.3</td><td>300.8</td><td>99.907</td><td>0.366</td><td>150.2</td><td>2,508.0</td></tr><tr><td>June 16</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.3</td><td>2,357.7</td></tr><tr><td>June 17</td><td>Sept.16</td><td>91</td><td>801.3</td><td>301.0</td><td>99.908</td><td>0.365</td><td>150.3</td><td>2,508.5</td></tr><tr><td>June 18</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.4</td><td>2,358.1</td></tr><tr><td>June 19</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.9</td><td>2,207.2</td></tr><tr><td>June 24</td><td>Sept.17</td><td>85</td><td>712.6</td><td>301.1</td><td>99.914</td><td>0.362</td><td>-</td><td>2,508.3</td></tr><tr><td>July 1</td><td>Sept.30</td><td>91</td><td>671.5</td><td>301.9</td><td>99.909</td><td>0.360</td><td>-</td><td>2,810.2</td></tr><tr><td>July 8</td><td>Oct. 7</td><td>91</td><td>646.1</td><td>300.1</td><td>99.908</td><td>0.365</td><td>-</td><td>3,110.2</td></tr><tr><td>July 15</td><td>Oct. 14</td><td>91</td><td>650.7</td><td>301.2</td><td>99.908</td><td>0.365</td><td>150.1</td><td>3,261.4</td></tr><tr><td>July 22</td><td>Oct. 21</td><td>91</td><td>679.3</td><td>351.9</td><td>99.907</td><td>0.368</td><td>150.1</td><td>3,453.2</td></tr><tr><td>July 29</td><td>Oct. 28</td><td>91</td><td>645.2</td><td>350.3</td><td>99.907</td><td>0.370</td><td>150.1</td><td>3,663.3</td></tr><tr><td>Aug. 5</td><td>Nov. 4</td><td>91</td><td>583.0</td><td>352.6</td><td>99.906</td><td>0.372</td><td>150.4</td><td>3,855.5</td></tr><tr><td>Aug. 12</td><td>Nov. 12</td><td>92</td><td>594.0</td><td>350.7</td><td>99.905</td><td>0.372</td><td>250.7</td><td>3,965.5</td></tr><tr><td>Aug. 19</td><td>Nov. 18</td><td>91</td><td>711.5</td><td>352.4</td><td>99.906</td><td>0.372</td><td>251.7</td><td>4,066.2</td></tr><tr><td>Aug. 26</td><td>Nov. 25</td><td>91</td><td>891.5</td><td>353.0</td><td>99.907</td><td>0.369</td><td>251.0</td><td>4,168.2</td></tr><tr><td>Sept. 2</td><td>Dec. 2</td><td>91</td><td>872.9</td><td>350.9</td><td>99.907</td><td>0.367</td><td>251.3</td><td>4,267.7</td></tr><tr><td>Sept. 9</td><td>Dec. 9</td><td>91</td><td>709.8</td><td>351.2</td><td>99.907</td><td>0.368</td><td>300.8</td><td>4,318.2</td></tr><tr><td>Sept. 16</td><td>Dec. 16</td><td>91</td><td>882.3</td><td>402.1</td><td>99.907</td><td>0.369</td><td>301.0</td><td>4,419.2</td></tr><tr><td>Sept.17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>301.1</td><td>4,118.1</td></tr><tr><td>Sept.23</td><td>Dec. 23</td><td>91</td><td>797.1</td><td>401.5</td><td>99.906</td><td>0.370</td><td>-</td><td>4,519.7</td></tr><tr><td>Sept.30</td><td>Dec. 30</td><td>91</td><td>725.6</td><td>401.1</td><td>99.906</td><td>0.373</td><td>301.9</td><td>4,618.9</td></tr><tr><td>Oct. 7</td><td>1943-Jan. 6</td><td>91</td><td>773.2</td><td>400.2</td><td>99.907</td><td>0.369</td><td>300.1</td><td>4,719.0</td></tr><tr><td>Oct. 14</td><td>Jan. 13</td><td>91</td><td>713.1</td><td>400.4</td><td>99.906</td><td>0.373</td><td>301.2</td><td>4,818.2</td></tr><tr><td>Oct. 21</td><td>Jan. 20</td><td>91</td><td>984.8</td><td>505.1</td><td>99.906</td><td>0.373</td><td>351.9</td><td>4,971.5</td></tr><tr><td>Oct. 28</td><td>Jan. 27</td><td>91</td><td>893.2</td><td>504.6</td><td>99.906</td><td>0.373</td><td>350.3</td><td>5,125.7</td></tr><tr><td>Nov. 4</td><td>Feb. 3</td><td>91</td><td>905.7</td><td>500.1</td><td>99.906</td><td>0.373</td><td>352.6</td><td>5,273.3</td></tr><tr><td>Nov. 12</td><td>Feb. 10</td><td>90</td><td>1,013.2</td><td>501.0</td><td>99.907</td><td>0.373</td><td>350.7</td><td>5,424.0</td></tr><tr><td>Nov. 18</td><td>Feb. 17</td><td>91</td><td>1,157.4</td><td>501.5</td><td>99.906</td><td>0.371</td><td>352.4</td><td>5,573.2</td></tr><tr><td>Nov. 25</td><td>Feb. 24</td><td>91</td><td>1,114.2</td><td>501.2</td><td>99.907</td><td>0.370</td><td>353.0</td><td>5,721.4</td></tr></table><p>Source: Account of Public Debt Service.</p>
Source: Account of Public Debt Service. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
30
Sales of United States Savings Bonds
Table 1.- Summary, by Series
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Amount outstanding end of fiscal year or month 1/</th><th rowspan="2">Net change during fiscal year or month</th><th colspan="3">Gross sales</th><th rowspan="2">Accrual of redemption values</th><th colspan="3">Redemptions</th></tr><tr><th>Total funds received</th><th>Adjustment of sales reported to funds received 2/</th><th>Sales reported 2/</th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr></table>
All series 4/
<table><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>-</td><td>264.0</td><td>1.2</td><td>11.2</td><td>11.1</td><td>.</td></tr><tr><td>1937</td><td>799.6</td><td>4183.5</td><td>512.6</td><td>-</td><td>512.6</td><td>7.2</td><td>36.2</td><td>35.9</td><td>.3</td></tr><tr><td>1938</td><td>1,237.7</td><td>4138.0</td><td>487.5</td><td>-</td><td>487.5</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,868.1</td><td>+630.5</td><td>684.5</td><td>-</td><td>684.5</td><td>28.0</td><td>82.0</td><td>80.0</td><td>2.0</td></tr><tr><td>1940</td><td>2,904.7</td><td>+1,036.6</td><td>1,108.7</td><td>-</td><td>1,108.7</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.4</td></tr><tr><td>1941</td><td>4,314.0</td><td>+1,409.3</td><td>1,492.4</td><td>-65.1</td><td>1,557.5</td><td>65.0</td><td>148.1</td><td>142.8</td><td>5.3</td></tr><tr><td>1942</td><td>10,188.2</td><td>+5,874.2</td><td>5,994.1</td><td>-12.4</td><td>6,006.5</td><td>87.5</td><td>207.4</td><td>200.9</td><td>6.5</td></tr><tr><td>1941-November</td><td>5,619.7</td><td>+225.7</td><td>233.6</td><td>-6</td><td>234.2</td><td>4.9</td><td>12.8</td><td>12.3</td><td>.5</td></tr><tr><td>December</td><td>6,139.7</td><td>+520.0</td><td>528.9</td><td>-125.5</td><td>654.3</td><td>7.4</td><td>16.3</td><td>15.7</td><td>.6</td></tr><tr><td>1942-January</td><td>7,198.3</td><td>+1,058.6</td><td>1,060.7</td><td>-68.5</td><td>1,129.2</td><td>13.4</td><td>15.4</td><td>14.8</td><td>.6</td></tr><tr><td>February</td><td>7,893.4</td><td>+695.1</td><td>703.3</td><td>+117.7</td><td>585.6</td><td>7.6</td><td>15.3</td><td>15.3</td><td>.5</td></tr><tr><td>March</td><td>8,435.9</td><td>+542.5</td><td>557.9</td><td>+37.6</td><td>520.3</td><td>6.6</td><td>22.0</td><td>21.4</td><td>.6</td></tr><tr><td>April</td><td>8,951.0</td><td>+515.1</td><td>530.5</td><td>-3.5</td><td>534.0</td><td>5.9</td><td>21.3</td><td>20.7</td><td>.5</td></tr><tr><td>May</td><td>9,569.0</td><td>+618.0</td><td>634.4</td><td>+16.1</td><td>618.3</td><td>5.8</td><td>22.1</td><td>21.6</td><td>.5</td></tr><tr><td>June</td><td>10,188.2</td><td>+619.2</td><td>633.9</td><td>+6.2</td><td>627.8</td><td>8.0</td><td>22.8</td><td>22.3</td><td>.5</td></tr><tr><td>July</td><td>11,077.8</td><td>+889.7</td><td>900.9</td><td>-3.3</td><td>904.2</td><td>14.3</td><td>25.5</td><td>25.0</td><td>.5</td></tr><tr><td>August</td><td>11,751.2</td><td>+673.3</td><td>697.3</td><td>+27.5</td><td>669.8</td><td>8.2</td><td>32.2</td><td>31.6</td><td>.6</td></tr><tr><td>September</td><td>12,478.8</td><td>+727.6</td><td>754.7</td><td>-69.0</td><td>823.7</td><td>7.2</td><td>34.3</td><td>33.7</td><td>.6</td></tr><tr><td>October</td><td>13,380.8</td><td>+902.0</td><td>935.0</td><td>+133.0</td><td>802.0</td><td>7.2</td><td>40.1</td><td>5/</td><td>5/</td></tr><tr><td>November</td><td>14,078.9</td><td>+698.0</td><td>734.6</td><td>+10.0p</td><td>724.6p</td><td>6.7</td><td>43.2</td><td>5/</td><td>5/</td></tr></table>
Serlo A-D
<table><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>294.0</td><td>-</td><td>264.0</td><td>1.2</td><td>11.2</td><td>11.1</td><td>*</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>-</td><td>512.6</td><td>7.2</td><td>36.2</td><td>35.9</td><td>.3</td></tr><tr><td>1938</td><td>1,237.7</td><td>+438.0</td><td>487.5</td><td>-</td><td>487.5</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,868.1</td><td>+630.5</td><td>684.5</td><td>-</td><td>684.5</td><td>28.0</td><td>82.0</td><td>80.0</td><td>2.0</td></tr><tr><td>1940</td><td>2,904.7</td><td>+1,036.6</td><td>1,108.7</td><td>-</td><td>1,108.7</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.4</td></tr><tr><td>1941</td><td>3,650.2</td><td>+745.5</td><td>828.0</td><td>-</td><td>828.0</td><td>65.0</td><td>147.5</td><td>142.2</td><td>5.3</td></tr><tr><td>1942</td><td>3,604.2</td><td>-46.1</td><td>.8</td><td>-</td><td>.8</td><td>85.9</td><td>132.7</td><td>126.2</td><td>6.5</td></tr><tr><td>1941-November</td><td>3,620.7</td><td>-4.7</td><td>.1</td><td>-</td><td>.1</td><td>4.9</td><td>9.6</td><td>9.2</td><td>.5</td></tr><tr><td>December</td><td>3,616.1</td><td>-4.6</td><td>.3</td><td>-</td><td>.3</td><td>7.4</td><td>12.3</td><td>11.7</td><td>.6</td></tr><tr><td>1942-January</td><td>3,618.5</td><td>+2.4</td><td>.1</td><td>-</td><td>.1</td><td>13.4</td><td>11.1</td><td>10.5</td><td>.6</td></tr><tr><td>February</td><td>3,616.5</td><td>-2.0</td><td>.1</td><td>-</td><td>.1</td><td>7.6</td><td>9.6</td><td>9.1</td><td>.5</td></tr><tr><td>March</td><td>3,612.4</td><td>-4.1</td><td>*</td><td>-</td><td>*</td><td>6.6</td><td>10.7</td><td>10.1</td><td>.6</td></tr><tr><td>April</td><td>3,608.9</td><td>-3.5</td><td>*</td><td>-</td><td>*</td><td>5.9</td><td>9.4</td><td>8.9</td><td>.5</td></tr><tr><td>May</td><td>3,604.8</td><td>-4.1</td><td>*</td><td>-</td><td>*</td><td>4.8</td><td>8.9</td><td>8.4</td><td>.5</td></tr><tr><td>June</td><td>3,604.2</td><td>-.7</td><td>*</td><td>-</td><td>*</td><td>7.3</td><td>7.9</td><td>7.4</td><td>.5</td></tr><tr><td>July</td><td>3,609.7</td><td>+5.6</td><td>*</td><td>-</td><td>*</td><td>13.2</td><td>7.6</td><td>7.2</td><td>.5</td></tr><tr><td>August</td><td>3,608.2</td><td>-1.6</td><td>*</td><td>-</td><td>*</td><td>7.5</td><td>9.0</td><td>8.4</td><td>.6</td></tr><tr><td>September</td><td>3,606.3</td><td>-1.9</td><td>*</td><td>-</td><td>*</td><td>6.5</td><td>8.4</td><td>7.8</td><td>.6</td></tr><tr><td>October</td><td>3,604.2</td><td>-2.2</td><td>*</td><td>-</td><td>*</td><td>5.8</td><td>7.9</td><td>5/</td><td>5/</td></tr><tr><td>November</td><td>3,602.6</td><td>-1.6</td><td>*</td><td>-</td><td>*</td><td>4.7</td><td>6.3</td><td>5/</td><td>5/</td></tr></table>
(Continued on following page)
31
Sales of United States Savings Bonds - (Continued)
Table 1.- Summary, by Series - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Amount outstanding end of fiscal year or month 1/</th><th rowspan="2">Net change during fiscal year or month</th><th colspan="4">Gross sales</th><th rowspan="2">Accrual of redemption values</th><th colspan="3">Redemptions</th></tr><tr><th>Total funds received</th><th>Adjustment of sales reported to funds received 2/</th><th>Sales reported 2/</th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr><tr><td colspan="11">Series E</td></tr><tr><td>1941</td><td>203.1</td><td>+203.1</td><td>203.1</td><td>-</td><td>203.1</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>3,670.8</td><td>+3,467.7</td><td>3,526.3</td><td>-14.7</td><td>3,541.0</td><td>1.5</td><td>60.0</td><td>60.0</td><td>-</td></tr><tr><td>1941-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><td>2.5</td><td>-</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><td>3.1</td><td>-</td></tr><tr><td>1942-January</td><td>1,798.1</td><td>+664.5</td><td>667.4</td><td>*</td><td>667.4</td><td>-</td><td>2.9</td><td>2.9</td><td>-</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><td>4.5</td><td>-</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><td>9.2</td><td>-</td></tr><tr><td>April</td><td>2,836.6</td><td>+316.7</td><td>326.7</td><td>-6.8</td><td>333.4</td><td>-</td><td>9.9</td><td>9.9</td><td>-</td></tr><tr><td>May</td><td>3,248.9</td><td>+412.3</td><td>421.8</td><td>+5.5</td><td>416.3</td><td>.8</td><td>10.4</td><td>10.4</td><td>*</td></tr><tr><td>June</td><td>3,670.8</td><td>+421.9</td><td>433.2</td><td>+14.5</td><td>418.7</td><td>.7</td><td>12.0</td><td>11.9</td><td>*</td></tr><tr><td>July</td><td>4,165.1</td><td>+494.3</td><td>508.1</td><td>+7.7</td><td>500.5</td><td>1.0</td><td>14.8</td><td>14.8</td><td>*</td></tr><tr><td>August</td><td>4,600.8</td><td>+435.7</td><td>454.0</td><td>+13.7</td><td>440.3</td><td>.7</td><td>19.0</td><td>19.0</td><td>*</td></tr><tr><td>September</td><td>5,088.8</td><td>+488.0</td><td>509.9</td><td>-31.6</td><td>541.4</td><td>.7</td><td>22.5</td><td>22.5</td><td>*</td></tr><tr><td>October</td><td>5,726.3</td><td>+637.5</td><td>604.8</td><td>+81.4</td><td>583.4</td><td>.8</td><td>28.1</td><td>5/</td><td>5/</td></tr><tr><td>November</td><td>6,237.4</td><td>+511.1</td><td>541.6</td><td>+1.8 p</td><td>539.8 p</td><td>1.5</td><td>32.0</td><td>5/</td><td>5/</td></tr><tr><td colspan="11">Series F</td></tr><tr><td>1941</td><td>66.6</td><td>+66.6</td><td>66.7</td><td>-8.3</td><td>75.0</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>498.9</td><td>+432.3</td><td>434.9</td><td>-2.0</td><td>437.0</td><td>.2</td><td>2.9</td><td>2.9</td><td>-</td></tr><tr><td>1941-November</td><td>174.2</td><td>+18.9</td><td>19.0</td><td>+7.7</td><td>18.2</td><td>-</td><td>.1</td><td>.1</td><td>-</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><td>.2</td><td>-</td></tr><tr><td>1942-January</td><td>284.6</td><td>+77.3</td><td>77.6</td><td>-6.0</td><td>83.5</td><td>-</td><td>.3</td><td>.3</td><td>-</td></tr><tr><td>February</td><td>336.0</td><td>+51.4</td><td>51.8</td><td>+12.0</td><td>39.8</td><td>-</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>March</td><td>376.7</td><td>+40.7</td><td>41.1</td><td>+4.4</td><td>36.6</td><td>-</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>April</td><td>416.3</td><td>+39.6</td><td>40.0</td><td>+1.8</td><td>38.2</td><td>-</td><td>.4</td><td>.4</td><td>-</td></tr><tr><td>May</td><td>458.4</td><td>+42.1</td><td>42.5</td><td>+8.5</td><td>41.7</td><td>.1</td><td>.5</td><td>.5</td><td>*</td></tr><tr><td>June</td><td>498.9</td><td>+40.5</td><td>41.0</td><td>-8.8</td><td>41.9</td><td>.1</td><td>.6</td><td>.6</td><td>*</td></tr><tr><td>July</td><td>572.2</td><td>+73.3</td><td>73.7</td><td>-1.6</td><td>75.3</td><td>.1</td><td>.5</td><td>.5</td><td>*</td></tr><tr><td>August</td><td>623.8</td><td>+51.6</td><td>52.3</td><td>+3.9</td><td>48.4</td><td>*</td><td>.8</td><td>.8</td><td>*</td></tr><tr><td>September</td><td>684.0</td><td>+60.2</td><td>60.8</td><td>-8.4</td><td>69.2</td><td>.1</td><td>.6</td><td>.6</td><td>*</td></tr><tr><td>October</td><td>744.2</td><td>+60.3</td><td>60.6</td><td>+11.1</td><td>49.5</td><td>.6</td><td>.9</td><td>5/</td><td>5/</td></tr><tr><td>November</td><td>788.6</td><td>+44.4</td><td>44.8</td><td>+2.6 p</td><td>42.2 p</td><td>.4</td><td>.7</td><td>5/</td><td>5/</td></tr><tr><td colspan="11">Series O</td></tr><tr><td>1941</td><td>394.0</td><td>+394.0</td><td>394.6</td><td>-56.8</td><td>451.4</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1942</td><td>2,414.3</td><td>+2,020.3</td><td>2,032.1</td><td>+4.3</td><td>2,027.8</td><td>-</td><td>11.8</td><td>11.8</td><td>-</td></tr><tr><td>1941-November</td><td>1,029.3</td><td>+104.6</td><td>105.0</td><td>+6.6</td><td>104.5</td><td>-</td><td>.5</td><td>.5</td><td>-</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><td>.7</td><td>-</td></tr><tr><td>1942-January</td><td>1,497.2</td><td>+314.4</td><td>315.6</td><td>-62.6</td><td>378.2</td><td>-</td><td>1.2</td><td>1.2</td><td>-</td></tr><tr><td>February</td><td>1,749.3</td><td>+252.2</td><td>253.4</td><td>+73.6</td><td>179.8</td><td>-</td><td>1.2</td><td>1.2</td><td>-</td></tr><tr><td>March</td><td>1,926.9</td><td>+177.6</td><td>179.2</td><td>+23.1</td><td>156.1</td><td>-</td><td>1.7</td><td>1.7</td><td>-</td></tr><tr><td>April</td><td>2,089.2</td><td>+162.2</td><td>163.8</td><td>+1.5</td><td>162.4</td><td>-</td><td>1.6</td><td>1.6</td><td>-</td></tr><tr><td>May</td><td>2,256.9</td><td>+167.8</td><td>170.1</td><td>+9.8</td><td>160.3</td><td>-</td><td>2.3</td><td>2.3</td><td>-</td></tr><tr><td>June</td><td>2,414.3</td><td>+157.4</td><td>159.7</td><td>-7.5</td><td>167.2</td><td>-</td><td>2.3</td><td>2.3</td><td>-</td></tr><tr><td>July</td><td>2,730.8</td><td>+316.5</td><td>319.1</td><td>-9.4</td><td>328.4</td><td>-</td><td>2.5</td><td>2.5</td><td>-</td></tr><tr><td>August</td><td>2,918.5</td><td>+187.6</td><td>191.0</td><td>+10.0</td><td>181.1</td><td>-</td><td>3.4</td><td>3.4</td><td>-</td></tr><tr><td>September</td><td>3,099.7</td><td>+181.3</td><td>184.0</td><td>-29.0</td><td>213.0</td><td>-</td><td>2.8</td><td>2.8</td><td>-</td></tr><tr><td>October</td><td>3,306.1</td><td>+206.4</td><td>209.6</td><td>+40.5</td><td>169.1</td><td>-</td><td>3.2</td><td>3.2</td><td>-</td></tr><tr><td>November</td><td>3,450.3</td><td>+144.2</td><td>148.2</td><td>+5.6 p</td><td>142.6 p</td><td>-</td><td>4.1</td><td>4.1</td><td>-</td></tr></table>
Source: Daily Treasury Statements and reports of gross sales.
p Preliminary.
* Less than $50,000.
1/ At current redemption values except Series Q, which is stated at par. Unclassified sales shown in the Daily Treasury Statement have been classified by series.
2/ Series A-D data are shown only on a funds received basis. Series E data are not available on a sales reported basis prior to July 1941; consequently data for the fiscal year 1941 are on a funds received basis.
3/ Estimated, except for Series O.
4/ Series A-D, the sale of which commenced in March 1935 and continued through April 1941, are 10 year discount bonds which were sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchasers 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. Series E 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 74% 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 2-1/2% 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 $100,000 issue price for the two series combined ($50,000 in the calendar year 1941) and may be made by any investore other than commercial banks. Not yet available.
32
Sales of United States Savings Bonds - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="7">Sales in millions of dollars at issue price</th><th colspan="7">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><td colspan="17">Series I</td></tr><tr><td>1941 1/</td><td>203.1</td><td>14.4</td><td>13.3</td><td>41.4</td><td>40.7</td><td>93.4</td><td></td><td>100.0</td><td>7.1</td><td>6.5</td><td>20.4</td><td>20.0</td><td>46.0</td><td></td><td></td></tr><tr><td>1942</td><td>3,541.0</td><td>607.6</td><td>341.7</td><td>817.6</td><td>643.3</td><td>1,130.8</td><td></td><td>100.0</td><td>17.2</td><td>9.6</td><td>23.1</td><td>18.2</td><td>31.9</td><td></td><td></td></tr><tr><td>1941-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>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>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>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>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>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>April</td><td>333.4</td><td>76.0</td><td>35.5</td><td>80.6</td><td>54.4</td><td>87.0</td><td></td><td>100.0</td><td>22.8</td><td>10.6</td><td>24.2</td><td>16.3</td><td>26.1</td><td></td><td></td></tr><tr><td>May</td><td>416.3</td><td>105.3</td><td>47.2</td><td>101.8</td><td>64.7</td><td>97.4</td><td></td><td>100.0</td><td>25.3</td><td>11.3</td><td>24.5</td><td>15.5</td><td>23.4</td><td></td><td></td></tr><tr><td>June</td><td>418.7</td><td>127.2</td><td>50.5</td><td>100.7</td><td>57.3</td><td>83.0</td><td></td><td>100.0</td><td>30.4</td><td>12.1</td><td>24.0</td><td>13.7</td><td>19.8</td><td></td><td></td></tr><tr><td>July</td><td>500.5</td><td>152.6</td><td>59.0</td><td>114.6</td><td>69.4</td><td>104.8</td><td></td><td>100.0</td><td>30.5</td><td>11.8</td><td>22.9</td><td>13.9</td><td>20.9</td><td></td><td></td></tr><tr><td>August</td><td>440.3</td><td>162.2</td><td>57.7</td><td>98.8</td><td>51.2</td><td>70.3</td><td></td><td>100.0</td><td>36.9</td><td>13.1</td><td>22.4</td><td>11.6</td><td>16.0</td><td></td><td></td></tr><tr><td>September</td><td>541.4</td><td>192.9</td><td>69.1</td><td>120.3</td><td>67.1</td><td>91.9</td><td></td><td>100.0</td><td>35.6</td><td>12.8</td><td>22.2</td><td>12.4</td><td>17.0</td><td></td><td></td></tr><tr><td>October</td><td>583.4</td><td>217.4</td><td>75.8</td><td>126.8</td><td>69.9</td><td>93.5</td><td></td><td>100.0</td><td>37.3</td><td>13.0</td><td>21.7</td><td>12.0</td><td>16.0</td><td></td><td></td></tr><tr><td>November p.</td><td>539.8</td><td>210.0</td><td>73.0</td><td>117.2</td><td>61.4</td><td>78.2</td><td></td><td>100.0</td><td>38.9</td><td>13.5</td><td>21.7</td><td>11.4</td><td>14.5</td><td></td><td></td></tr><tr><td colspan="17">Series F</td></tr><tr><td>1941 1/</td><td>75.0</td><td></td><td>.9</td><td>2.1</td><td>14.2</td><td>13.6</td><td>44.2</td><td>100.0</td><td></td><td>1.2</td><td>2.8</td><td>18.9</td><td>18.2</td><td>58.9</td><td></td></tr><tr><td>1942</td><td>437.0</td><td>1.3</td><td>19.3</td><td>27.4</td><td>123.7</td><td>92.0</td><td>173.4</td><td>100.0</td><td>.3</td><td>4.4</td><td>6.3</td><td>28.3</td><td>21.0</td><td>39.7</td><td></td></tr><tr><td>1941-November</td><td>18.2</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>3.6</td><td>6.2</td><td>31.0</td><td>21.2</td><td>38.0</td><td></td></tr><tr><td>December</td><td>50.0</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>3.9</td><td>5.6</td><td>27.6</td><td>21.1</td><td>41.8</td><td></td></tr><tr><td>1942-January 2/</td><td>83.5</td><td>.2</td><td>3.7</td><td>5.2</td><td>20.3</td><td>15.3</td><td>38.9</td><td>100.0</td><td>.2</td><td>4.4</td><td>6.2</td><td>24.3</td><td>18.3</td><td>46.6</td><td></td></tr><tr><td>February</td><td>39.8</td><td>.2</td><td>2.7</td><td>3.0</td><td>11.5</td><td>8.1</td><td>14.3</td><td>100.0</td><td>.5</td><td>6.8</td><td>7.4</td><td>28.8</td><td>20.7</td><td>35.8</td><td></td></tr><tr><td>March</td><td>36.6</td><td>.2</td><td>2.2</td><td>2.8</td><td>10.8</td><td>7.5</td><td>13.1</td><td>100.0</td><td>.6</td><td>6.1</td><td>7.5</td><td>29.5</td><td>20.6</td><td>35.7</td><td></td></tr><tr><td>April</td><td>38.2</td><td>.2</td><td>1.9</td><td>2.5</td><td>11.2</td><td>8.5</td><td>14.0</td><td>100.0</td><td>.5</td><td>4.9</td><td>6.5</td><td>29.3</td><td>22.2</td><td>36.6</td><td></td></tr><tr><td>May</td><td>41.7</td><td>.2</td><td>1.9</td><td>2.7</td><td>12.6</td><td>9.4</td><td>14.9</td><td>100.0</td><td>.6</td><td>4.5</td><td>6.4</td><td>30.2</td><td>22.5</td><td>35.8</td><td></td></tr><tr><td>June</td><td>41.9</td><td>.2</td><td>1.8</td><td>2.7</td><td>13.1</td><td>9.4</td><td>14.7</td><td>100.0</td><td>.6</td><td>4.3</td><td>6.4</td><td>31.4</td><td>22.3</td><td>35.0</td><td></td></tr><tr><td>July</td><td>75.3</td><td>.2</td><td>2.0</td><td>3.3</td><td>17.5</td><td>14.9</td><td>37.4</td><td>100.0</td><td>.3</td><td>2.6</td><td>4.4</td><td>23.2</td><td>19.8</td><td>49.7</td><td></td></tr><tr><td>August</td><td>48.4</td><td>.2</td><td>1.5</td><td>2.6</td><td>13.3</td><td>10.2</td><td>20.7</td><td>100.0</td><td>.3</td><td>3.2</td><td>5.3</td><td>27.5</td><td>21.0</td><td>42.7</td><td></td></tr><tr><td>September</td><td>69.2</td><td>.2</td><td>1.8</td><td>3.4</td><td>19.2</td><td>14.6</td><td>30.0</td><td>100.0</td><td>.3</td><td>2.6</td><td>4.9</td><td>27.7</td><td>21.1</td><td>43.4</td><td></td></tr><tr><td>October</td><td>49.5</td><td>.2</td><td>1.9</td><td>3.1</td><td>15.5</td><td>12.1</td><td>16.6</td><td>100.0</td><td>.4</td><td>3.8</td><td>6.3</td><td>31.3</td><td>24.6</td><td>33.6</td><td></td></tr><tr><td>November p.</td><td>42.2</td><td>.2</td><td>1.6</td><td>2.6</td><td>13.6</td><td>10.1</td><td>14.0</td><td>100.0</td><td>.6</td><td>3.9</td><td>6.1</td><td>32.2</td><td>24.0</td><td>33.2</td><td></td></tr><tr><td colspan="17">Series G</td></tr><tr><td>1941 1/</td><td>451.4</td><td></td><td>5.2</td><td>12.2</td><td>90.7</td><td>80.9</td><td>262.4</td><td>100.0</td><td></td><td>1.2</td><td>2.7</td><td>20.1</td><td>17.9</td><td>58.1</td><td></td></tr><tr><td>1942</td><td>2,027.8</td><td></td><td>50.6</td><td>112.7</td><td>576.0</td><td>403.5</td><td>884.9</td><td>100.0</td><td></td><td>2.5</td><td>5.6</td><td>28.4</td><td>19.9</td><td>43.6</td><td></td></tr><tr><td>1941-November</td><td>104.5</td><td></td><td>2.1</td><td>4.6</td><td>29.2</td><td>21.8</td><td>46.8</td><td>100.0</td><td></td><td>2.0</td><td>4.4</td><td>28.0</td><td>20.8</td><td>44.8</td><td></td></tr><tr><td>December</td><td>201.4</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>2.9</td><td>6.3</td><td>30.4</td><td>20.3</td><td>40.1</td><td></td></tr><tr><td>1942-January</td><td>378.2</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>2.1</td><td>5.5</td><td>25.3</td><td>16.5</td><td>50.6</td><td></td></tr><tr><td>February</td><td>179.8</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>2.7</td><td>5.7</td><td>27.6</td><td>19.6</td><td>44.4</td><td></td></tr><tr><td>March</td><td>156.1</td><td></td><td>4.7</td><td>10.3</td><td>47.0</td><td>31.2</td><td>62.9</td><td>100.0</td><td></td><td>3.0</td><td>6.6</td><td>30.1</td><td>20.0</td><td>40.3</td><td></td></tr><tr><td>April</td><td>162.4</td><td></td><td>5.0</td><td>10.7</td><td>50.1</td><td>34.1</td><td>62.4</td><td>100.0</td><td></td><td>3.1</td><td>6.6</td><td>30.9</td><td>21.0</td><td>38.4</td><td></td></tr><tr><td>May</td><td>160.3</td><td></td><td>5.7</td><td>11.4</td><td>52.5</td><td>34.1</td><td>56.6</td><td>100.0</td><td></td><td>3.5</td><td>7.1</td><td>32.8</td><td>21.3</td><td>35.3</td><td></td></tr><tr><td>June</td><td>167.2</td><td></td><td>5.5</td><td>11.0</td><td>51.6</td><td>35.8</td><td>63.3</td><td>100.0</td><td></td><td>3.3</td><td>6.5</td><td>30.9</td><td>21.4</td><td>37.9</td><td></td></tr><tr><td>July</td><td>328.4</td><td></td><td>7.1</td><td>15.7</td><td>73.2</td><td>52.0</td><td>180.4</td><td>100.0</td><td></td><td>2.2</td><td>4.8</td><td>22.7</td><td>15.8</td><td>54.9</td><td></td></tr><tr><td>August</td><td>181.1</td><td></td><td>4.9</td><td>10.6</td><td>50.0</td><td>35.6</td><td>79.8</td><td>100.0</td><td></td><td>2.7</td><td>5.9</td><td>27.6</td><td>19.7</td><td>44.1</td><td></td></tr><tr><td>September</td><td>213.0</td><td></td><td>9.7</td><td>13.0</td><td>60.9</td><td>45.8</td><td>87.7</td><td>100.0</td><td></td><td>2.7</td><td>6.1</td><td>28.6</td><td>21.5</td><td>41.1</td><td></td></tr><tr><td>October</td><td>169.1</td><td></td><td>5.3</td><td>12.0</td><td>53.9</td><td>36.4</td><td>61.5</td><td>100.0</td><td></td><td>3.2</td><td>7.1</td><td>31.8</td><td>21.5</td><td>36.4</td><td></td></tr><tr><td>November p.</td><td>142.6</td><td></td><td>5.0</td><td>10.6</td><td>47.6</td><td>30.5</td><td>48.9</td><td>100.0</td><td></td><td>3.5</td><td>7.4</td><td>33.4</td><td>21.4</td><td>34.3</td><td></td></tr></table>
Source: Reports of gross sales. p. Preliminary.
1/ Sales of Series E, F, and G bonds commenced May 1, 1941.
2/ Sale of $25 denomination Series F bonds began in January 1942.
33
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States
PART A - SERIES E
(In thousands of dollars at issue prices)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="4">1941</th><th colspan="8">1942</th><th>Nov.</th></tr><tr><th></th><th>1941 1/</th><th>1942</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>P</th></tr><tr><td>Alabama</td><td>1,331</td><td>28,996</td><td>710</td><td>3,234</td><td>5,324</td><td>2,702</td><td>2,460</td><td>2,723</td><td>3,924</td><td>4,523</td><td>6,671</td><td>5,262</td><td>6,238</td><td>5,754</td><td>5,912</td></tr><tr><td>Arizona</td><td>711</td><td>10,313</td><td>258</td><td>1,154</td><td>1,840</td><td>958</td><td>970</td><td>1,040</td><td>1,418</td><td>1,149</td><td>1,626</td><td>1,422</td><td>1,655</td><td>1,759</td><td>1,660</td></tr><tr><td>Arkansas</td><td>940</td><td>21,404</td><td>753</td><td>2,393</td><td>3,715</td><td>2,246</td><td>2,107</td><td>2,118</td><td>2,992</td><td>2,573</td><td>2,924</td><td>2,522</td><td>3,202</td><td>3,653</td><td>3,643</td></tr><tr><td>California</td><td>9,920</td><td>260,522</td><td>7,181</td><td>30,210</td><td>51,634</td><td>31,921</td><td>24,688</td><td>21,739</td><td>28,900</td><td>31,139</td><td>37,157</td><td>33,435</td><td>40,909</td><td>44,722</td><td>36,422</td></tr><tr><td>Colorado</td><td>1,793</td><td>24,845</td><td>1,025</td><td>3,213</td><td>4,373</td><td>2,105</td><td>2,189</td><td>2,584</td><td>2,795</td><td>2,844</td><td>3,306</td><td>3,412</td><td>3,933</td><td>4,674</td><td>3,675</td></tr><tr><td>Connecticut</td><td>3,943</td><td>77,543</td><td>2,428</td><td>8,685</td><td>13,613</td><td>8,691</td><td>7,232</td><td>7,296</td><td>9,199</td><td>10,430</td><td>11,180</td><td>9,948</td><td>10,306</td><td>16,227</td><td>11,683</td></tr><tr><td>Delaware</td><td>469</td><td>7,629</td><td>239</td><td>892</td><td>1,217</td><td>863</td><td>753</td><td>756</td><td>909</td><td>1,037</td><td>1,103</td><td>1,124</td><td>1,714</td><td>2,613</td><td>2,039</td></tr><tr><td>Dist. of Columbia</td><td>2,592</td><td>34,847</td><td>1,439</td><td>4,113</td><td>5,531</td><td>3,608</td><td>3,330</td><td>3,470</td><td>3,767</td><td>4,423</td><td>4,434</td><td>4,760</td><td>4,728</td><td>5,359</td><td>5,596</td></tr><tr><td>Florida</td><td>2,487</td><td>39,555</td><td>994</td><td>4,420</td><td>7,048</td><td>4,407</td><td>4,206</td><td>4,443</td><td>4,979</td><td>4,269</td><td>5,481</td><td>5,563</td><td>5,749</td><td>5,248</td><td>5,425</td></tr><tr><td>Georgia</td><td>1,642</td><td>35,642</td><td>1,082</td><td>3,822</td><td>6,540</td><td>3,450</td><td>2,995</td><td>2,958</td><td>4,721</td><td>4,282</td><td>5,421</td><td>5,007</td><td>6,169</td><td>5,896</td><td>6,764</td></tr><tr><td>Idaho</td><td>485</td><td>9,840</td><td>329</td><td>1,335</td><td>1,531</td><td>949</td><td>908</td><td>1,047</td><td>1,399</td><td>1,132</td><td>1,255</td><td>1,437</td><td>1,820</td><td>2,218</td><td>2,279</td></tr><tr><td>Illinois</td><td>14,737</td><td>282,019</td><td>8,940</td><td>29,828</td><td>52,786</td><td>27,933</td><td>26,688</td><td>25,554</td><td>35,794</td><td>32,854</td><td>38,891</td><td>33,598</td><td>38,701</td><td>44,615</td><td>39,776</td></tr><tr><td>Indiana</td><td>3,644</td><td>76,661</td><td>2,452</td><td>8,302</td><td>12,860</td><td>7,710</td><td>7,866</td><td>7,560</td><td>9,961</td><td>10,794</td><td>11,801</td><td>11,112</td><td>14,440</td><td>15,121</td><td>15,291</td></tr><tr><td>Iowa</td><td>2,743</td><td>69,558</td><td>1,695</td><td>6,077</td><td>9,460</td><td>5,880</td><td>9,947</td><td>9,283</td><td>9,846</td><td>10,752</td><td>11,056</td><td>9,729</td><td>10,908</td><td>10,719</td><td>10,964</td></tr><tr><td>Kansas</td><td>1,879</td><td>35,310</td><td>1,167</td><td>3,608</td><td>5,868</td><td>4,628</td><td>3,647</td><td>2,999</td><td>3,912</td><td>4,158</td><td>4,680</td><td>5,269</td><td>6,414</td><td>6,838</td><td>7,814</td></tr><tr><td>Kentucky</td><td>1,835</td><td>34,293</td><td>1,071</td><td>3,841</td><td>6,494</td><td>3,622</td><td>3,467</td><td>3,051</td><td>4,066</td><td>4,399</td><td>5,643</td><td>4,974</td><td>5,139</td><td>5,423</td><td>5,053</td></tr><tr><td>Louisiana</td><td>1,824</td><td>36,799</td><td>825</td><td>4,343</td><td>6,876</td><td>3,776</td><td>3,728</td><td>3,190</td><td>4,627</td><td>4,757</td><td>5,886</td><td>4,923</td><td>5,663</td><td>6,872</td><td>5,993</td></tr><tr><td>Maine</td><td>1,083</td><td>17,746</td><td>711</td><td>1,855</td><td>3,145</td><td>1,930</td><td>1,558</td><td>1,688</td><td>2,179</td><td>2,131</td><td>2,407</td><td>2,224</td><td>2,209</td><td>3,136</td><td>2,411</td></tr><tr><td>Maryland</td><td>2,745</td><td>48,944</td><td>1,614</td><td>6,747</td><td>9,735</td><td>5,512</td><td>4,095</td><td>4,103</td><td>5,052</td><td>5,596</td><td>6,554</td><td>6,246</td><td>6,775</td><td>7,396</td><td>7,163</td></tr><tr><td>Massachusetts</td><td>9,110</td><td>141,196</td><td>4,690</td><td>14,596</td><td>27,195</td><td>16,634</td><td>12,525</td><td>12,956</td><td>15,863</td><td>16,402</td><td>18,126</td><td>18,212</td><td>17,850</td><td>20,654</td><td>18,479</td></tr><tr><td>Michigan</td><td>8,108</td><td>160,150</td><td>4,992</td><td>16,376</td><td>25,794</td><td>16,154</td><td>15,781</td><td>16,202</td><td>20,965</td><td>23,656</td><td>25,690</td><td>19,790</td><td>34,115</td><td>33,851</td><td>32,467</td></tr><tr><td>Minnesota</td><td>3,624</td><td>71,181</td><td>2,561</td><td>6,603</td><td>12,547</td><td>7,122</td><td>6,893</td><td>7,659</td><td>8,898</td><td>9,444</td><td>10,443</td><td>8,952</td><td>11,203</td><td>10,736</td><td>11,174</td></tr><tr><td>Mississippi</td><td>901</td><td>22,973</td><td>747</td><td>2,453</td><td>4,606</td><td>2,678</td><td>2,284</td><td>2,130</td><td>2,632</td><td>2,454</td><td>3,094</td><td>2,519</td><td>2,776</td><td>3,579</td><td>3,899</td></tr><tr><td>Missouri</td><td>7,483</td><td>94,800</td><td>3,226</td><td>12,387</td><td>15,687</td><td>8,856</td><td>8,244</td><td>8,235</td><td>11,287</td><td>10,961</td><td>11,067</td><td>10,236</td><td>12,586</td><td>11,974</td><td>13,111</td></tr><tr><td>Montana</td><td>771</td><td>17,710</td><td>883</td><td>2,616</td><td>2,950</td><td>1,787</td><td>1,823</td><td>1,633</td><td>1,627</td><td>1,706</td><td>2,232</td><td>1,816</td><td>2,284</td><td>3,091</td><td>2,468</td></tr><tr><td>Nebraska</td><td>1,384</td><td>26,045</td><td>868</td><td>2,387</td><td>4,161</td><td>2,738</td><td>3,058</td><td>3,213</td><td>3,266</td><td>3,037</td><td>3,656</td><td>3,419</td><td>4,589</td><td>4,699</td><td>3,970</td></tr><tr><td>Nevada</td><td>149</td><td>4,340</td><td>125</td><td>605</td><td>821</td><td>475</td><td>419</td><td>379</td><td>513</td><td>501</td><td>656</td><td>643</td><td>865</td><td>828</td><td>939</td></tr><tr><td>New Hampshire</td><td>595</td><td>11,742</td><td>374</td><td>1,046</td><td>2,300</td><td>1,410</td><td>1,128</td><td>1,015</td><td>1,403</td><td>1,509</td><td>1,791</td><td>1,600</td><td>1,825</td><td>2,298</td><td>1,749</td></tr><tr><td>New Jersey</td><td>9,904</td><td>160,538</td><td>5,807</td><td>21,447</td><td>31,895</td><td>16,092</td><td>14,076</td><td>13,816</td><td>16,066</td><td>17,298</td><td>18,505</td><td>16,688</td><td>22,961</td><td>23,368</td><td>19,737</td></tr><tr><td>New Mexico</td><td>243</td><td>6,978</td><td>236</td><td>902</td><td>1,246</td><td>672</td><td>609</td><td>826</td><td>802</td><td>763</td><td>909</td><td>880</td><td>881</td><td>1,130</td><td>989</td></tr><tr><td>New York</td><td>44,582</td><td>587,179</td><td>17,927</td><td>68,179</td><td>130,656</td><td>61,589</td><td>46,954</td><td>52,935</td><td>57,239</td><td>57,763</td><td>74,931</td><td>54,990</td><td>72,759</td><td>77,242</td><td>70,133</td></tr><tr><td>North Carolina</td><td>1,492</td><td>42,297</td><td>1,362</td><td>4,962</td><td>7,461</td><td>4,332</td><td>3,824</td><td>3,669</td><td>6,163</td><td>5,090</td><td>6,443</td><td>5,944</td><td>8,915</td><td>8,620</td><td>8,422</td></tr><tr><td>North Dakota</td><td>475</td><td>11,394</td><td>472</td><td>1,361</td><td>1,946</td><td>1,298</td><td>1,130</td><td>1,113</td><td>1,476</td><td>1,311</td><td>1,575</td><td>1,306</td><td>1,614</td><td>1,748</td><td>2,670</td></tr><tr><td>Ohio</td><td>10,886</td><td>190,262</td><td>6,173</td><td>21,311</td><td>37,244</td><td>17,680</td><td>17,556</td><td>17,537</td><td>23,850</td><td>22,799</td><td>31,152</td><td>27,876</td><td>34,072</td><td>31,969</td><td>30,987</td></tr><tr><td>Oklahoma</td><td>2,302</td><td>34,482</td><td>1,249</td><td>4,863</td><td>6,783</td><td>3,197</td><td>3,025</td><td>2,892</td><td>4,210</td><td>3,789</td><td>4,471</td><td>4,674</td><td>5,020</td><td>5,530</td><td>4,673</td></tr><tr><td>Oregon</td><td>3,154</td><td>37,394</td><td>1,425</td><td>3,723</td><td>6,714</td><td>4,383</td><td>3,318</td><td>3,079</td><td>4,165</td><td>4,571</td><td>6,337</td><td>5,674</td><td>6,956</td><td>6,978</td><td>6,289</td></tr><tr><td>Pennsylvania</td><td>14,443</td><td>283,679</td><td>8,798</td><td>35,451</td><td>54,409</td><td>27,042</td><td>25,856</td><td>28,823</td><td>31,763</td><td>32,149</td><td>36,801</td><td>35,058</td><td>42,235</td><td>46,351</td><td>42,511</td></tr><tr><td>Rhode Island</td><td>1,478</td><td>24,268</td><td>785</td><td>2,461</td><td>4,158</td><td>3,304</td><td>2,467</td><td>2,366</td><td>2,741</td><td>3,005</td><td>3,305</td><td>3,574</td><td>2,653</td><td>5,477</td><td>3,380</td></tr><tr><td>South Carolina</td><td>874</td><td>18,757</td><td>591</td><td>1,919</td><td>2,741</td><td>1,738</td><td>1,697</td><td>2,209</td><td>2,523</td><td>2,668</td><td>3,091</td><td>3,002</td><td>4,152</td><td>3,740</td><td>3,911</td></tr><tr><td>South Dakota</td><td>449</td><td>11,783</td><td>361</td><td>1,293</td><td>1,851</td><td>1,212</td><td>1,270</td><td>1,392</td><td>1,647</td><td>1,458</td><td>1,685</td><td>1,354</td><td>1,605</td><td>1,600</td><td>2,080</td></tr><tr><td>Tennessee</td><td>1,707</td><td>36,734</td><td>1,116</td><td>3,888</td><td>6,990</td><td>3,640</td><td>3,502</td><td>3,138</td><td>4,841</td><td>4,676</td><td>6,591</td><td>5,593</td><td>7,444</td><td>6,868</td><td>6,771</td></tr><tr><td>Texas</td><td>8,717</td><td>126,054</td><td>3,337</td><td>14,690</td><td>21,952</td><td>12,362</td><td>12,161</td><td>11,089</td><td>15,266</td><td>13,775</td><td>16,791</td><td>15,202</td><td>19,807</td><td>20,303</td><td>19,622</td></tr><tr><td>Utah</td><td>474</td><td>9,919</td><td>301</td><td>1,042</td><td>1,905</td><td>1,017</td><td>917</td><td>953</td><td>1,339</td><td>1,114</td><td>1,463</td><td>1,507</td><td>1,655</td><td>2,169</td><td>1,954</td></tr><tr><td>Vermont</td><td>486</td><td>7,550</td><td>262</td><td>636</td><td>1,533</td><td>1,059</td><td>613</td><td>688</td><td>788</td><td>766</td><td>967</td><td>844</td><td>872</td><td>1,300</td><td>942</td></tr><tr><td>Virginia</td><td>2,319</td><td>56,199</td><td>1,584</td><td>7,627</td><td>10,260</td><td>5,544</td><td>4,865</td><td>5,381</td><td>7,136</td><td>7,095</td><td>8,160</td><td>8,291</td><td>9,903</td><td>10,291</td><td>10,390</td></tr><tr><td>Washington</td><td>3,778</td><td>57,921</td><td>2,027</td><td>5,124</td><td>9,070</td><td>6,883</td><td>5,579</td><td>5,192</td><td>8,208</td><td>7,569</td><td>9,025</td><td>9,177</td><td>9,273</td><td>11,783</td><td>10,904</td></tr><tr><td>West Virginia</td><td>1,187</td><td>27,642</td><td>832</td><td>3,913</td><td>5,518</td><td>2,882</td><td>2,522</td><td>2,470</td><td>3,089</td><td>3,211</td><td>3,846</td><td>3,338</td><td>4,085</td><td>4,991</td><td>4,581</td></tr><tr><td>Wisconsin</td><td>4,607</td><td>77,668</td><td>2,521</td><td>9,005</td><td>14,029</td><td>7,575</td><td>7,511</td><td>7,124</td><td>9,280</td><td>10,527</td><td>11,402</td><td>10,358</td><td>11,213</td><td>12,511</td><td>11,465</td></tr><tr><td>Wyoming</td><td>339</td><td>7,066</td><td>280</td><td>1,007</td><td>1,275</td><td>701</td><td>684</td><td>712</td><td>737</td><td>779</td><td>869</td><td>831</td><td>1,098</td><td>1,345</td><td>1,004</td></tr><tr><td>Aleut</td><td>5</td><td>2,385</td><td>70</td><td>128</td><td>320</td><td>225</td><td>468</td><td>349</td><td>365</td><td>224</td><td>575</td><td>419</td><td>644</td><td>647</td><td>531</
(Continued on following page)
34
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States - (Continued)
PART B - SERIES F AND G COMBINED
(In thousands of dollars at issue price)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="2">1941</th><th colspan="10">1942</th></tr><tr><th></th><th>1941 1/</th><th>1942</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th></tr><tr><td>Alabama</td><td>2,393</td><td>13,099</td><td>496</td><td>1,232</td><td>2,207</td><td>1,466</td><td>1,270</td><td>1,281</td><td>1,402</td><td>1,276</td><td>5,399</td><td>1,688</td><td>2,552</td><td>1,921</td><td>1,457</td></tr><tr><td>Arkansas</td><td>950</td><td>4,232</td><td>107</td><td>478</td><td>706</td><td>663</td><td>280</td><td>420</td><td>344</td><td>394</td><td>550</td><td>524</td><td>414</td><td>773</td><td>391</td></tr><tr><td>Arizona</td><td>1,024</td><td>13,738</td><td>386</td><td>617</td><td>5,364</td><td>999</td><td>2,741</td><td>675</td><td>812</td><td>653</td><td>1,019</td><td>844</td><td>1,243</td><td>1,246</td><td>1,250</td></tr><tr><td>California</td><td>20,402</td><td>140,602</td><td>6,586</td><td>15,550</td><td>28,663</td><td>14,132</td><td>8,416</td><td>10,276</td><td>11,198</td><td>10,751</td><td>21,283</td><td>13,145</td><td>14,404</td><td>15,026</td><td>11,841</td></tr><tr><td>Colorado</td><td>3,908</td><td>18,302</td><td>822</td><td>1,377</td><td>4,954</td><td>1,492</td><td>1,392</td><td>1,631</td><td>1,388</td><td>1,453</td><td>2,897</td><td>1,898</td><td>2,723</td><td>1,824</td><td>1,378</td></tr><tr><td>Connecticut</td><td>14,937</td><td>59,894</td><td>3,305</td><td>5,636</td><td>9,909</td><td>4,291</td><td>3,693</td><td>5,364</td><td>6,804</td><td>5,399</td><td>10,391</td><td>5,384</td><td>5,020</td><td>4,530</td><td>3,735</td></tr><tr><td>Delaware</td><td>2,524</td><td>11,910</td><td>623</td><td>993</td><td>2,037</td><td>1,488</td><td>949</td><td>717</td><td>656</td><td>1,449</td><td>1,272</td><td>907</td><td>969</td><td>802</td><td>1,093</td></tr><tr><td>Dist. of Columbia</td><td>5,166</td><td>23,247</td><td>800</td><td>3,552</td><td>4,023</td><td>2,112</td><td>2,511</td><td>1,673</td><td>1,476</td><td>1,533</td><td>3,321</td><td>1,817</td><td>1,996</td><td>1,735</td><td>1,953</td></tr><tr><td>Florida</td><td>3,379</td><td>22,219</td><td>953</td><td>2,479</td><td>4,198</td><td>2,452</td><td>1,916</td><td>1,955</td><td>1,800</td><td>1,752</td><td>3,716</td><td>1,766</td><td>3,796</td><td>1,946</td><td>2,704</td></tr><tr><td>Georgia</td><td>2,878</td><td>17,982</td><td>663</td><td>1,896</td><td>2,903</td><td>1,551</td><td>1,940</td><td>1,357</td><td>1,759</td><td>2,118</td><td>3,965</td><td>1,948</td><td>2,393</td><td>2,066</td><td>3,139</td></tr><tr><td>Idaho</td><td>291</td><td>7,339</td><td>125</td><td>553</td><td>2,171</td><td>653</td><td>1,838</td><td>451</td><td>443</td><td>179</td><td>770</td><td>535</td><td>508</td><td>469</td><td>340</td></tr><tr><td>Illinois</td><td>59,605</td><td>202,041</td><td>10,460</td><td>21,377</td><td>40,682</td><td>13,244</td><td>15,939</td><td>13,494</td><td>15,881</td><td>19,404</td><td>33,306</td><td>20,568</td><td>23,390</td><td>15,724</td><td>9,313</td></tr><tr><td>Indiana</td><td>6,285</td><td>45,123</td><td>2,151</td><td>4,084</td><td>8,312</td><td>3,241</td><td>4,484</td><td>4,142</td><td>4,226</td><td>5,289</td><td>8,063</td><td>5,455</td><td>7,082</td><td>5,342</td><td>3,545</td></tr><tr><td>Iowa</td><td>4,498</td><td>30,676</td><td>1,189</td><td>3,131</td><td>4,725</td><td>2,535</td><td>2,956</td><td>3,791</td><td>3,260</td><td>3,904</td><td>6,115</td><td>3,751</td><td>6,075</td><td>3,401</td><td>2,947</td></tr><tr><td>Kansas</td><td>2,459</td><td>14,486</td><td>592</td><td>1,378</td><td>2,198</td><td>2,065</td><td>1,499</td><td>1,062</td><td>1,163</td><td>1,127</td><td>2,675</td><td>1,869</td><td>3,124</td><td>2,306</td><td>2,077</td></tr><tr><td>Kentucky</td><td>4,356</td><td>24,516</td><td>1,392</td><td>1,938</td><td>3,979</td><td>3,674</td><td>1,779</td><td>2,170</td><td>1,893</td><td>1,529</td><td>4,601</td><td>3,591</td><td>2,809</td><td>2,674</td><td>2,147</td></tr><tr><td>Louisiana</td><td>2,477</td><td>21,651</td><td>814</td><td>1,798</td><td>3,523</td><td>6,922</td><td>1,569</td><td>1,460</td><td>1,754</td><td>1,426</td><td>2,831</td><td>2,297</td><td>5,956</td><td>2,683</td><td>2,055</td></tr><tr><td>Maine</td><td>3,974</td><td>16,570</td><td>776</td><td>1,477</td><td>2,734</td><td>1,270</td><td>1,920</td><td>1,241</td><td>1,826</td><td>1,197</td><td>2,310</td><td>1,261</td><td>1,235</td><td>1,253</td><td>1,009</td></tr><tr><td>Maryland</td><td>6,800</td><td>40,093</td><td>2,537</td><td>4,050</td><td>7,503</td><td>4,259</td><td>3,550</td><td>3,472</td><td>2,923</td><td>3,507</td><td>6,684</td><td>2,892</td><td>4,321</td><td>4,152</td><td>2,996</td></tr><tr><td>Massachusetts</td><td>35,087</td><td>144,199</td><td>8,335</td><td>12,480</td><td>25,680</td><td>9,434</td><td>10,389</td><td>12,757</td><td>11,485</td><td>11,809</td><td>27,111</td><td>12,873</td><td>9,451</td><td>10,940</td><td>9,444</td></tr><tr><td>Michigan</td><td>13,928</td><td>65,040</td><td>2,900</td><td>8,381</td><td>11,060</td><td>5,938</td><td>3,583</td><td>5,012</td><td>4,596</td><td>7,120</td><td>9,473</td><td>7,778</td><td>8,804</td><td>7,178</td><td>4,884</td></tr><tr><td>Minnesota</td><td>9,770</td><td>49,069</td><td>2,312</td><td>4,396</td><td>9,655</td><td>4,229</td><td>3,492</td><td>4,040</td><td>3,527</td><td>2,902</td><td>7,791</td><td>4,458</td><td>4,970</td><td>4,076</td><td>3,125</td></tr><tr><td>Mississippi</td><td>973</td><td>10,061</td><td>239</td><td>741</td><td>1,975</td><td>1,279</td><td>1,148</td><td>1,290</td><td>956</td><td>847</td><td>1,431</td><td>1,265</td><td>1,233</td><td>1,206</td><td>1,330</td></tr><tr><td>Missouri</td><td>23,952</td><td>68,651</td><td>4,403</td><td>7,399</td><td>9,986</td><td>5,432</td><td>4,841</td><td>5,575</td><td>6,850</td><td>6,142</td><td>9,073</td><td>4,922</td><td>6,093</td><td>5,728</td><td>4,680</td></tr><tr><td>Montana</td><td>612</td><td>6,322</td><td>344</td><td>582</td><td>1,057</td><td>619</td><td>895</td><td>369</td><td>371</td><td>490</td><td>882</td><td>558</td><td>677</td><td>762</td><td>833</td></tr><tr><td>Nebraska</td><td>3,523</td><td>14,132</td><td>565</td><td>1,078</td><td>3,662</td><td>1,528</td><td>1,517</td><td>982</td><td>1,107</td><td>1,282</td><td>2,483</td><td>1,275</td><td>1,931</td><td>1,470</td><td>1,227</td></tr><tr><td>Nevada</td><td>354</td><td>2,349</td><td>17</td><td>207</td><td>380</td><td>529</td><td>496</td><td>139</td><td>159</td><td>70</td><td>443</td><td>228</td><td>357</td><td>269</td><td>304</td></tr><tr><td>New Hampshire</td><td>1,896</td><td>11,090</td><td>363</td><td>850</td><td>2,717</td><td>900</td><td>1,738</td><td>1,080</td><td>864</td><td>548</td><td>1,630</td><td>966</td><td>996</td><td>868</td><td>856</td></tr><tr><td>New Jersey</td><td>20,400</td><td>93,399</td><td>4,274</td><td>10,871</td><td>14,494</td><td>8,104</td><td>11,166</td><td>8,469</td><td>6,502</td><td>8,704</td><td>14,206</td><td>8,771</td><td>9,838</td><td>8,167</td><td>8,245</td></tr><tr><td>New Mexico</td><td>415</td><td>9,034</td><td>53</td><td>371</td><td>3,226</td><td>3,206</td><td>933</td><td>248</td><td>333</td><td>154</td><td>509</td><td>359</td><td>507</td><td>690</td><td>576</td></tr><tr><td>New York</td><td>141,842</td><td>580,433</td><td>30,943</td><td>56,658</td><td>107,721</td><td>49,543</td><td>36,113</td><td>46,779</td><td>46,275</td><td>46,456</td><td>92,319</td><td>44,915</td><td>62,776</td><td>35,251</td><td>30,032</td></tr><tr><td>North Carolina</td><td>2,338</td><td>26,074</td><td>1,097</td><td>1,908</td><td>8,572</td><td>3,296</td><td>1,774</td><td>1,683</td><td>1,855</td><td>1,658</td><td>3,586</td><td>2,021</td><td>5,136</td><td>3,120</td><td>2,745</td></tr><tr><td>North Dakota</td><td>962</td><td>7,515</td><td>140</td><td>324</td><td>1,131</td><td>1,504</td><td>2,339</td><td>490</td><td>410</td><td>419</td><td>1,076</td><td>685</td><td>715</td><td>732</td><td>668</td></tr><tr><td>Ohio</td><td>22,466</td><td>112,098</td><td>6,332</td><td>13,640</td><td>22,461</td><td>9,594</td><td>7,680</td><td>10,472</td><td>11,414</td><td>9,887</td><td>23,133</td><td>12,264</td><td>15,066</td><td>12,025</td><td>9,693</td></tr><tr><td>Oklahoma</td><td>2,325</td><td>16,587</td><td>617</td><td>2,151</td><td>3,131</td><td>1,753</td><td>1,006</td><td>1,478</td><td>1,777</td><td>1,273</td><td>2,973</td><td>1,617</td><td>2,103</td><td>1,347</td><td>1,448</td></tr><tr><td>Oregon</td><td>2,522</td><td>22,095</td><td>709</td><td>1,811</td><td>3,873</td><td>1,249</td><td>4,735</td><td>1,315</td><td>1,272</td><td>1,484</td><td>3,641</td><td>2,020</td><td>2,527</td><td>2,741</td><td>2,131</td></tr><tr><td>Pennsylvania</td><td>49,547</td><td>243,285</td><td>14,319</td><td>24,227</td><td>41,707</td><td>21,582</td><td>14,607</td><td>20,949</td><td>20,685</td><td>20,058</td><td>34,117</td><td>19,817</td><td>25,071</td><td>21,793</td><td>20,841</td></tr><tr><td>Rhode Island</td><td>5,924</td><td>28,064</td><td>1,386</td><td>3,554</td><td>4,622</td><td>3,194</td><td>2,861</td><td>1,755</td><td>1,497</td><td>2,225</td><td>3,695</td><td>2,262</td><td>1,661</td><td>1,557</td><td>1,815</td></tr><tr><td>South Carolina</td><td>1,621</td><td>9,459</td><td>335</td><td>954</td><td>1,576</td><td>942</td><td>1,298</td><td>992</td><td>605</td><td>902</td><td>1,761</td><td>1,413</td><td>1,783</td><td>1,249</td><td>1,380</td></tr><tr><td>South Dakota</td><td>194</td><td>3,077</td><td>126</td><td>302</td><td>495</td><td>258</td><td>487</td><td>350</td><td>300</td><td>276</td><td>682</td><td>506</td><td>520</td><td>581</td><td>831</td></tr><tr><td>Tennessee</td><td>3,128</td><td>18,481</td><td>678</td><td>1,550</td><td>4,010</td><td>1,233</td><td>2,399</td><td>1,714</td><td>1,679</td><td>1,420</td><td>3,997</td><td>2,413</td><td>3,089</td><td>2,888</td><td>2,122</td></tr><tr><td>Texas</td><td>10,323</td><td>54,196</td><td>1,814</td><td>7,445</td><td>10,611</td><td>4,378</td><td>3,157</td><td>4,988</td><td>6,268</td><td>5,679</td><td>11,003</td><td>6,581</td><td>8,698</td><td>7,291</td><td>5,641</td></tr><tr><td>Utah</td><td>1,000</td><td>5,019</td><td>270</td><td>144</td><td>846</td><td>842</td><td>772</td><td>279</td><td>638</td><td>519</td><td>680</td><td>384</td><td>500</td><td>473</td><td>485</td></tr><tr><td>Vermont</td><td>1,011</td><td>5,842</td><td>141</td><td>429</td><td>1,502</td><td>498</td><td>540</td><td>445</td><td>565</td><td>380</td><td>792</td><td>494</td><td>439</td><td>538</td><td>357</td></tr><tr><td>Virginia</td><td>4,532</td><td>28,014</td><td>1,528</td><td>4,883</td><td>5,461</td><td>2,132</td><td>1,927</td><td>1,890</td><td>2,247</td><td>2,667</td><td>4,487</td><td>2,046</td><td>4,024</td><td>3,971</td><td>3,274</td></tr><tr><td>Washington</td><td>6,268</td><td>25,898</td><td>1,116</td><td>2,621</td><td>5,123</td><td>1,814</td><td>2,040</td><td>1,940</td><td>2,510</td><td>2,170</td><td>4,628</td><td>2,733</td><td>3,384</td><td>3,053</td><td>3,008</td></tr><tr><td>West Virginia</td><td>1,992</td><td>11,780</td><td>331</td><td>1,864</td><td>1,980</td><td>837</td><td>1,699</td><td>855</td><td>757</td><td>1,329</td><td>1,839</td><td>1,062</td><td>1,278</td><td>1,304</td><td>1,237</td></tr><tr><td>Wisconsin</td><td>8,491</td><td>42,205</td><td>1,842</td><td>5,107</td><td>8,424</td><td>3,425</td><td>2,637</td><td>3,552</td><td>2,873</td><td>4,909</td><td>8,146</td><td>5,530</td><td>6,934</td><td>5,097</td><td>3,694</td></tr><tr><td>Wyoming</td><td>501</td><td>3,690</td><td>90</td><td>358</td><td>1,007</td><td>369</td><td>634</td><td>279</td><td>186</td><td>232</td><td>546</td><td>303</td><td>438</td><td>286</td><td>302</td></tr><tr><td>Aleutian</td><td>20</td><td>736</td><td>21</td><td>53</td><td>92</td><td>271</td><td>160</td><td>34</td><td>11</td><td>40</td><td>98</td><td>49</td><td>75</td><td>127</td><td>92</td></tr><tr><td>Canal Zone</td><td>95</td><td>504</td><td>6</td><td>31</td><td>77</td><td>86</td><td>78</td><td>128</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>178</td><td>49</td></tr><tr><td>Hawaii</td><td>47</td><td>5,882</td><td>212</td><td>267</td><td>846</td><td>677</td><td>667</td><td>942</td><td>373</td><td>642</td><td>2,549</td><td>1,577</td><td>1,176</td><td>1,500</td><td>966</td></tr><tr><td>Puerto Rico</td><td>3</td><td>472</td><td>22</
Source: Reports of gross sales
p Preliminary
Less than $500.
1/ Sales of Series E, F, and G bonds commenced May 1, 1941.
35
Participation in Payroll Savings Plans For War Savings Bonds
<table><tr><th></th><th>1941</th><th colspan="10">1942</th></tr><tr><th></th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th></tr><tr><td colspan="12">(Numbers are units)</td></tr><tr><td>I. Number of firms that have payroll savings plans:</td><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>Firms 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>5,000 or more workers</td><td>100</td><td>355</td><td>448</td><td>467</td><td>470</td><td>475</td><td>477</td><td>481</td><td>484</td><td>487</td><td>488</td><td>469</td></tr><tr><td>500-4,999 workers</td><td>430</td><td>1,622</td><td>2,780</td><td>3,674</td><td>4,573</td><td>4,768</td><td>4,956</td><td>5,099</td><td>5,266</td><td>5,378</td><td>5,534</td><td>5,607</td></tr><tr><td>100-499 workers</td><td>3,495</td><td>7,059</td><td>11,172</td><td>13,770</td><td>16,216</td><td>18,169</td><td>19,718</td><td>21,038</td><td>22,375</td><td>23,275</td><td>24,321</td><td>24,873</td></tr><tr><td>Under 100 workers</td><td>5,914</td><td>8,477</td><td>20,080</td><td>32,209</td><td>50,427</td><td>67,006</td><td>82,948</td><td>95,275</td><td>108,757</td><td>115,421</td><td>122,762</td><td>127,660</td></tr><tr><td>Total number of firms</td><td>9,939</td><td>17,513</td><td>34,480</td><td>50,120</td><td>71,686</td><td>90,418</td><td>108,099</td><td>121,893</td><td>136,892</td><td>144,561</td><td>153,105</td><td>158,609</td></tr><tr><td colspan="12">(In millions)</td></tr><tr><td>II. Number of workers in firms and government agencies that have payroll savings plans:</td><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>In firms</td><td>3.2</td><td>9.9</td><td>14.2</td><td>16.7</td><td>19.2</td><td>20.5</td><td>21.3</td><td>22.0</td><td>22.8</td><td>23.2</td><td>24.5</td><td>24.8</td></tr><tr><td>In Federal, State, and local governments and their agencies</td><td>-</td><td>.6</td><td>.9</td><td>1.4</td><td>1.5</td><td>1.5</td><td>1.5</td><td>2.5</td><td>2.8</td><td>3.4</td><td>3.6</td><td>3.6</td></tr><tr><td>Total</td><td>3.2</td><td>10.5</td><td>15.1</td><td>18.0</td><td>20.7</td><td>22.0</td><td>22.8</td><td>24.6</td><td>25.6</td><td>26.6</td><td>28.1</td><td>28.4</td></tr><tr><td colspan="12">(In millions)</td></tr><tr><td>III. Number of persons actually participating in payroll savings plans:</td><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>Workers:</td><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>In participating firms</td><td>0.7</td><td>3.7</td><td>7.2</td><td>9.0</td><td>10.9</td><td>13.2</td><td>15.0</td><td>16.5</td><td>16.7</td><td>17.6</td><td>18.6</td><td>18.9</td></tr><tr><td>In Federal, State, and local governments and their agencies</td><td>-</td><td>.1</td><td>.4</td><td>.6</td><td>.7</td><td>.7</td><td>1.0</td><td>1.5</td><td>1.8</td><td>2.1</td><td>2.4</td><td>2.6</td></tr><tr><td>Total workers participating</td><td>0.7</td><td>3.8</td><td>7.6</td><td>9.6</td><td>11.6</td><td>13.9</td><td>16.0</td><td>18.0</td><td>18.5</td><td>19.7</td><td>21.0</td><td>21.5</td></tr><tr><td>Persons in the armed forces participating</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>1.0</td><td>1.7</td><td>2.0</td><td>2.1</td></tr><tr><td>Total persons participating</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>19.5</td><td>21.4</td><td>23.0</td><td>23.6</td></tr><tr><td colspan="12">(In millions of dollars)</td></tr><tr><td>IV. Aggregate amount deducted under payroll savings plans</td><td>5.0</td><td>28.0</td><td>58.0</td><td>78.0</td><td>96.0</td><td>126.0</td><td>153.0</td><td>205.0</td><td>230.0</td><td>265.0</td><td>307.0</td><td>340.0</td></tr><tr><td colspan="12">(Percent)</td></tr><tr><td>V. Deduction as a percentage of pay of persons actually participating</td><td>4.1%</td><td>4.5%</td><td>4.8%</td><td>4.9%</td><td>4.9%</td><td>5.3%</td><td>5.8%</td><td>6.5%</td><td>7.1%</td><td>7.5%</td><td>7.8%</td><td>8.4%</td></tr></table>
Preliminary.
Revised.
Estimated.
Not available.
36
Sales of United States Savings Stamps
Table 1.- Summary
(In thousands of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month 1/</th><th>Net change during fiscal year or 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 2/</td><td>5,294</td><td>+5,143</td><td>6,087</td><td>943</td></tr><tr><td>1942</td><td>166,341</td><td>+161,048</td><td>308,621</td><td>147,574</td></tr><tr><td>1941-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>41,169</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</td><td>115,857</td><td>+21,925</td><td>40,599</td><td>18,674</td></tr><tr><td>April</td><td>133,620</td><td>+17,762</td><td>40,173</td><td>22,410</td></tr><tr><td>May</td><td>152,217</td><td>+18,597</td><td>47,990</td><td>29,393</td></tr><tr><td>June</td><td>166,341</td><td>+14,124</td><td>48,960</td><td>34,836</td></tr><tr><td>July</td><td>180,972</td><td>+14,631</td><td>53,815</td><td>39,185</td></tr><tr><td>August</td><td>187,618</td><td>+6,647</td><td>44,546</td><td>37,900</td></tr><tr><td>September</td><td>194,010</td><td>+6,392</td><td>47,682</td><td>41,290</td></tr><tr><td>October p.</td><td>204,553 r</td><td>+10,543</td><td>51,650</td><td>41,107 3/</td></tr><tr><td>November p.</td><td>213,688</td><td>+9,135</td><td>46,678</td><td>37,543 3/</td></tr></table>
Source: Post Office Department, Division of Postal Savings. Preliminary. Revised. United States savings stamps sold prior to October 1, 1942 were sold as obligations of the Postal Savings System; stamps sold commencing October 1, 1942 have been public debt obligations. The outstanding stamps which were obligations of the Postal Savings System became public debt obligations in three installments on September 30, October 31, and November 30, 1942. The stamps were previously
2/ Sales and redemptions of United States savings stamps as shown in this table commence with May 1, 1941, when the special defense series of postal savings stamps went on sale. The amount of the old series of postal savings stamps outstanding on April 30, 1941 was $150 thousands. 
3/ Does not include savings stamps redeemed through Federal Reserve Banks.
Table 2.- Gross Sales, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or 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 1/</td><td>6,087</td><td>400</td><td>2,691</td><td>1,012</td><td>1,130</td><td>854</td><td>100.0</td><td>6.6</td><td>44.2</td><td>16.6</td><td>18.6</td><td>14.0</td></tr><tr><td>1942</td><td>308,621</td><td>67,466</td><td>167,709</td><td>28,614</td><td>31,583</td><td>13,250</td><td>100.0</td><td>21.9</td><td>54.3</td><td>9.3</td><td>10.2</td><td>4.3</td></tr><tr><td>1941-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</td><td>40,599</td><td>10,181</td><td>21,693</td><td>3,424</td><td>3,845</td><td>1,456</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</td><td>40,173</td><td>9,812</td><td>21,529</td><td>3,458</td><td>3,827</td><td>1,518</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>May</td><td>47,990</td><td>10,037</td><td>26,772</td><td>4,330</td><td>4,941</td><td>1,910</td><td>100.0</td><td>20.9</td><td>55.8</td><td>9.0</td><td>10.3</td><td>4.0</td></tr><tr><td>June</td><td>48,960</td><td>9,124</td><td>27,319</td><td>4,715</td><td>5,706</td><td>2,097</td><td>100.0</td><td>18.6</td><td>55.8</td><td>9.6</td><td>11.7</td><td>4.3</td></tr><tr><td>July</td><td>53,815</td><td>10,106</td><td>29,693</td><td>5,203</td><td>6,326</td><td>2,487</td><td>100.0</td><td>18.8</td><td>55.2</td><td>9.7</td><td>11.7</td><td>4.6</td></tr><tr><td>August</td><td>44,546</td><td>7,326</td><td>24,808</td><td>4,348</td><td>5,930</td><td>2,114</td><td>100.0</td><td>16.4</td><td>55.7</td><td>9.8</td><td>13.4</td><td>4.7</td></tr><tr><td>September</td><td>47,682</td><td>8,366</td><td>26,189</td><td>4,935</td><td>6,064</td><td>2,128</td><td>100.0</td><td>17.5</td><td>54.9</td><td>10.4</td><td>12.7</td><td>4.5</td></tr><tr><td>October p.</td><td>51,650</td><td>10,381</td><td>27,761</td><td>5,006</td><td>6,315</td><td>2,187</td><td>100.0</td><td>20.1</td><td>53.8</td><td>9.7</td><td>12.2</td><td>4.2</td></tr><tr><td>November p.</td><td>46,678</td><td>9,596</td><td>24,788</td><td>4,294</td><td>5,900</td><td>2,101</td><td>100.0</td><td>20.6</td><td>53.1</td><td>9.2</td><td>12.6</td><td>4.5</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p Preliminary.
1/ Sales of United States savings stamps commenced May 1, 1941.
Table 3.- Redemptions, Classified by Means of Payment
<table><tr><th rowspan="2">Fiscal year or 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 1/</td><td>9/3</td><td>2/</td><td>2/</td><td>2/</td><td>100.0</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>1942 (July 1941. Aug. 1941 - June 1942.)</td><td>1,158 146,415</td><td>2/ 127,948</td><td>2/ 123</td><td>2/ 18,344</td><td>100.0 100.0</td><td>2/ 87.4</td><td>2/ .1</td><td>2/ 12.5</td></tr><tr><td>1941-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</td><td>18,674</td><td>16,543</td><td>9</td><td>2,122</td><td>100.0</td><td>88.6</td><td></td><td>11.4</td></tr><tr><td>April</td><td>22,410</td><td>19,959</td><td>19</td><td>2,432</td><td>100.0</td><td>89.1</td><td>.1</td><td>10.8</td></tr><tr><td>May</td><td>29,393</td><td>26,616</td><td>16</td><td>2,761</td><td>100.0</td><td>90.6</td><td></td><td>9.4</td></tr><tr><td>June</td><td>34,836</td><td>31,678</td><td>8</td><td>3,150</td><td>100.0</td><td>90.9</td><td></td><td>9.1</td></tr><tr><td>July</td><td>39,185</td><td>35,253</td><td>26</td><td>3,906</td><td>100.0</td><td>90.0</td><td></td><td>10.0</td></tr><tr><td>August</td><td>37,900</td><td>34,101</td><td>15</td><td>3,784</td><td>100.0</td><td>90.0</td><td></td><td>10.0</td></tr><tr><td>September</td><td>41,230</td><td>36,561</td><td>14</td><td>4,715</td><td>100.0</td><td>88.6</td><td></td><td>11.4</td></tr><tr><td>October p.</td><td>41,107 3/</td><td>36,188</td><td>34</td><td>4,884</td><td>100.0</td><td>88.0</td><td>.1</td><td>11.9</td></tr><tr><td>November p.</td><td>37,943 3/</td><td>32,861</td><td>58</td><td>4,624</td><td>100.0</td><td>87.5</td><td>.2</td><td>12.3</td></tr></table>
Source: Post Office Department, Division of Postal Savings. p Preliminary. Less than .05%. 1/ Redemption of United States savings stamps commenced May 1, 1941.
2/ Details not available for May, June, and July 1941.
3/ Does not include savings stamps redeemed through Federal Reserve Banks.
37
Sales of United States Savings Stamps - (Continued)
Table 4.- Gross Sales by States
(In thousands of dollars)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="2">1941</th><th colspan="10">1942</th></tr><tr><th></th><th>1941 1/</th><th>1942</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct. p</th><th>Nov. p</th></tr><tr><td>Alabama</td><td>38.7</td><td>2,343.7</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><td>351.7</td><td>447.8</td><td>442.8</td><td>377.5</td><td>372.8</td><td>343.3</td><td>312.0</td></tr><tr><td>Arizona</td><td>16.0</td><td>834.8</td><td>15.4</td><td>70.4</td><td>114.3</td><td>100.3</td><td>114.7</td><td>108.7</td><td>139.4</td><td>125.0</td><td>177.5</td><td>110.7</td><td>129.4</td><td>147.5</td><td>138.1</td></tr><tr><td>Arkansas</td><td>24.8</td><td>1,674.7</td><td>36.0</td><td>115.6</td><td>201.4</td><td>190.9</td><td>221.2</td><td>198.0</td><td>348.6</td><td>290.1</td><td>302.5</td><td>227.4</td><td>253.4</td><td>237.0</td><td>247.4</td></tr><tr><td>California</td><td>428.0</td><td>20,132.6</td><td>380.9</td><td>1,878.3</td><td>2,784.6</td><td>2,366.8</td><td>2,450.2</td><td>2,478.9</td><td>3,077.2</td><td>3,442.2</td><td>3,766.8</td><td>2,964.9</td><td>3,232.9</td><td>3,575.9</td><td>3,046.3</td></tr><tr><td>Colorado</td><td>30.3</td><td>2,020.3</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><td>326.2</td><td>300.5</td><td>359.9</td><td>315.1</td><td>337.5</td><td>308.4</td><td>332.8</td></tr><tr><td>Connecticut</td><td>140.6</td><td>7,707.4</td><td>196.6</td><td>599.1</td><td>1,006.4</td><td>902.0</td><td>951.1</td><td>953.5</td><td>1,114.6</td><td>1,394.6</td><td>1,472.0</td><td>1,223.4</td><td>1,350.2</td><td>1,384.6</td><td>1,289.0</td></tr><tr><td>Delaware</td><td>14.5</td><td>714.2</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><td>112.6</td><td>114.8</td><td>113.6</td><td>94.4</td><td>100.6</td><td>123.2</td><td>124.3</td></tr><tr><td>Diet. of Columbia</td><td>174.1</td><td>6,100.1</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><td>694.5</td><td>684.2</td><td>639.7</td><td>502.3</td><td>489.9</td><td>447.0</td><td>392.9</td></tr><tr><td>Florida</td><td>75.0</td><td>3,705.9</td><td>85.7</td><td>298.1</td><td>497.7</td><td>483.7</td><td>507.9</td><td>497.6</td><td>583.0</td><td>498.7</td><td>531.0</td><td>415.9</td><td>462.5</td><td>396.9</td><td>460.7</td></tr><tr><td>Georgia</td><td>60.3</td><td>3,175.5</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><td>506.7</td><td>512.0</td><td>534.6</td><td>463.6</td><td>460.7</td><td>500.5</td><td>447.6</td></tr><tr><td>Idaho</td><td>8.1</td><td>841.0</td><td>21.3</td><td>79.2</td><td>110.7</td><td>96.5</td><td>102.4</td><td>109.3</td><td>141.4</td><td>125.5</td><td>148.3</td><td>98.9</td><td>115.5</td><td>122.8</td><td>114.3</td></tr><tr><td>Illinois</td><td>355.1</td><td>23,512.9</td><td>412.3</td><td>2,075.9</td><td>3,391.5</td><td>2,999.2</td><td>2,950.5</td><td>2,766.3</td><td>3,924.2</td><td>3,834.7</td><td>3,847.1</td><td>3,170.6</td><td>3,373.9</td><td>3,586.1</td><td>3,360.9</td></tr><tr><td>Indiana</td><td>69.7</td><td>7,516.9</td><td>112.1</td><td>586.9</td><td>1,027.8</td><td>1,016.5</td><td>1,073.6</td><td>1,033.9</td><td>1,267.8</td><td>1,093.0</td><td>1,232.2</td><td>1,108.9</td><td>1,164.2</td><td>1,431.9</td><td>1,173.8</td></tr><tr><td>Iowa</td><td>50.0</td><td>4,575.8</td><td>50.0</td><td>315.5</td><td>540.4</td><td>546.3</td><td>712.9</td><td>707.6</td><td>782.9</td><td>750.7</td><td>1,008.5</td><td>771.7</td><td>763.5</td><td>726.4</td><td>679.0</td></tr><tr><td>Kansas</td><td>40.2</td><td>2,532.9</td><td>40.4</td><td>212.7</td><td>349.7</td><td>360.2</td><td>330.9</td><td>314.1</td><td>407.1</td><td>386.4</td><td>483.0</td><td>362.2</td><td>424.7</td><td>429.6</td><td>429.6</td></tr><tr><td>Kentucky</td><td>42.8</td><td>3,036.2</td><td>51.5</td><td>283.3</td><td>444.9</td><td>417.3</td><td>425.9</td><td>393.7</td><td>425.4</td><td>433.3</td><td>527.4</td><td>445.4</td><td>439.0</td><td>459.2</td><td>422.1</td></tr><tr><td>Louisiana</td><td>62.0</td><td>3,428.0</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><td>582.0</td><td>606.0</td><td>669.6</td><td>450.2</td><td>455.2</td><td>488.1</td><td>481.5</td></tr><tr><td>Maine</td><td>37.2</td><td>1,725.5</td><td>43.7</td><td>120.4</td><td>216.7</td><td>201.9</td><td>232.1</td><td>217.6</td><td>284.8</td><td>288.0</td><td>318.1</td><td>279.8</td><td>288.4</td><td>328.6</td><td>282.9</td></tr><tr><td>Maryland</td><td>91.6</td><td>5,785.2</td><td>110.3</td><td>472.9</td><td>1,110.8</td><td>782.4</td><td>728.7</td><td>686.5</td><td>748.7</td><td>821.0</td><td>759.9</td><td>695.5</td><td>761.9</td><td>823.3</td><td>790.2</td></tr><tr><td>Massachusetts</td><td>312.8</td><td>14,413.6</td><td>337.8</td><td>1,119.6</td><td>1,804.4</td><td>1,710.0</td><td>1,885.3</td><td>1,883.8</td><td>2,300.6</td><td>2,276.9</td><td>2,424.2</td><td>2,062.2</td><td>2,312.8</td><td>2,456.4</td><td>2,115.3</td></tr><tr><td>Michigan</td><td>366.8</td><td>13,721.6</td><td>335.6</td><td>1,114.3</td><td>1,733.9</td><td>1,636.5</td><td>1,766.9</td><td>1,704.0</td><td>2,125.5</td><td>2,256.2</td><td>2,681.1</td><td>1,973.6</td><td>2,152.4</td><td>2,357.4</td><td>2,018.6</td></tr><tr><td>Minnesota</td><td>51.6</td><td>4,037.7</td><td>77.7</td><td>300.4</td><td>545.6</td><td>537.9</td><td>545.3</td><td>511.8</td><td>609.9</td><td>677.6</td><td>743.8</td><td>581.4</td><td>609.2</td><td>669.0</td><td>603.1</td></tr><tr><td>Misissippi</td><td>36.7</td><td>1,508.8</td><td>38.3</td><td>130.6</td><td>213.3</td><td>201.1</td><td>205.7</td><td>182.0</td><td>192.3</td><td>230.4</td><td>323.1</td><td>276.7</td><td>278.5</td><td>298.1</td><td>274.0</td></tr><tr><td>Missouri</td><td>173.5</td><td>7,326.4</td><td>153.0</td><td>664.7</td><td>906.2</td><td>863.7</td><td>936.4</td><td>928.8</td><td>1,155.5</td><td>1,161.2</td><td>1,280.3</td><td>1,062.6</td><td>1,213.7</td><td>1,244.9</td><td>1,449.9</td></tr><tr><td>Montana</td><td>17.2</td><td>1,030.7</td><td>23.2</td><td>89.4</td><td>156.2</td><td>137.6</td><td>148.2</td><td>137.5</td><td>149.7</td><td>128.2</td><td>183.3</td><td>135.2</td><td>148.2</td><td>118.4</td><td>140.4</td></tr><tr><td>Nebraska</td><td>36.2</td><td>2,371.8</td><td>30.8</td><td>210.7</td><td>292.9</td><td>283.5</td><td>315.0</td><td>339.4</td><td>423.8</td><td>379.1</td><td>459.7</td><td>375.2</td><td>398.9</td><td>379.2</td><td>343.8</td></tr><tr><td>Nevada</td><td>6.5</td><td>381.4</td><td>6.4</td><td>33.1</td><td>56.1</td><td>46.8</td><td>45.5</td><td>47.7</td><td>63.3</td><td>64.1</td><td>69.3</td><td>60.3</td><td>60.6</td><td>55.0</td><td>55.6</td></tr><tr><td>New Hampshire</td><td>29.0</td><td>1,150.8</td><td>40.7</td><td>90.8</td><td>166.7</td><td>142.3</td><td>144.9</td><td>140.3</td><td>159.3</td><td>183.2</td><td>224.6</td><td>201.2</td><td>213.7</td><td>211.1</td><td>176.7</td></tr><tr><td>New Jersey</td><td>286.0</td><td>13,313.7</td><td>275.1</td><td>1,069.0</td><td>1,837.9</td><td>1,807.7</td><td>1,781.3</td><td>1,744.6</td><td>1,916.2</td><td>2,020.7</td><td>1,975.9</td><td>1,763.4</td><td>1,948.2</td><td>2,097.6</td><td>1,924.8</td></tr><tr><td>New Mexico</td><td>9.9</td><td>720.3</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><td>129.9</td><td>94.7</td><td>130.2</td><td>88.7</td><td>103.5</td><td>106.6</td><td>91.7</td></tr><tr><td>New York</td><td>1,350.5</td><td>53,060.7</td><td>1,062.8</td><td>4,355.0</td><td>6,493.5</td><td>6,585.4</td><td>7,254.3</td><td>7,129.5</td><td>7,883.8</td><td>9,012.0</td><td>9,674.2</td><td>8,650.7</td><td>9,316.3</td><td>10,622.7</td><td>9,074.3</td></tr><tr><td>North Carolina</td><td>50.8</td><td>3,089.7</td><td>52.1</td><td>250.0</td><td>382.8</td><td>375.3</td><td>375.7</td><td>342.7</td><td>567.8</td><td>574.2</td><td>605.5</td><td>523.7</td><td>555.1</td><td>568.8</td><td>548.0</td></tr><tr><td>North Dakota</td><td>10.4</td><td>801.2</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><td>152.4</td><td>134.9</td><td>176.1</td><td>111.9</td><td>119.8</td><td>104.7</td><td>122.7</td></tr><tr><td>Ohio</td><td>293.7</td><td>18,269.5</td><td>318.1</td><td>1,269.2</td><td>2,495.9</td><td>2,415.3</td><td>2,594.7</td><td>2,571.1</td><td>2,850.9</td><td>2,863.9</td><td>3,290.8</td><td>2,564.3</td><td>2,567.4</td><td>2,562.6</td><td>2,564.0</td></tr><tr><td>Oklahoma</td><td>44.9</td><td>2,489.1</td><td>56.0</td><td>247.5</td><td>318.0</td><td>277.8</td><td>300.9</td><td>268.4</td><td>438.8</td><td>429.1</td><td>437.9</td><td>325.5</td><td>345.1</td><td>360.6</td><td>322.4</td></tr><tr><td>Oregon</td><td>59.1</td><td>2,739.3</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><td>381.2</td><td>425.1</td><td>485.7</td><td>405.3</td><td>432.1</td><td>416.0</td><td>366.0</td></tr><tr><td>Pennsylvania</td><td>419.5</td><td>27,075.3</td><td>547.5</td><td>2,244.2</td><td>3,675.2</td><td>3,480.8</td><td>3,482.5</td><td>3,922.1</td><td>4,431.2</td><td>3,920.2</td><td>4,322.0</td><td>3,650.8</td><td>4,087.5</td><td>4,599.6</td><td>4,100.6</td></tr><tr><td>Rhode Island</td><td>58.8</td><td>3,087.6</td><td>59.3</td><td>329.8</td><td>433.9</td><td>405.2</td><td>407.3</td><td>368.0</td><td>423.5</td><td>484.7</td><td>554.7</td><td>463.4</td><td>460.9</td><td>513.2</td><td>434.5</td></tr><tr><td>South Carolina</td><td>30.3</td><td>1,488.2</td><td>25.4</td><td>264.7</td><td>170.0</td><td>160.1</td><td>166.3</td><td>184.9</td><td>216.1</td><td>211.0</td><td>210.2</td><td>186.9</td><td>181.4</td><td>203.7</td><td>175.2</td></tr><tr><td>South Dakota</td><td>10.4</td><td>832.2</td><td>9.9</td><td>52.4</td><td>117.7</td><td>119.3</td><td>116.2</td><td>127.6</td><td>136.9</td><td>124.9</td><td>162.0</td><td>112.8</td><td>113.5</td><td>123.8</td><td>133.9</td></tr><tr><td>Tennessee</td><td>58.8</td><td>2,952.8</td><td>56.6</td><td>290.5</td><td>369.6</td><td>335.0</td><td>351.0</td><td>341.0</td><td>494.8</td><td>518.3</td><td>734.0</td><td>474.6</td><td>467.6</td><td>519.2</td><td>457.1</td></tr><tr><td>Texas</td><td>276.5</td><td>11,520.8</td><td>233.1</td><td>1,053.3</td><td>1,592.7</td><td>1,551.0</td><td>1,646.0</td><td>1,467.2</td><td>1,695.8</td><td>1,535.2</td><td>1,848.0</td><td>1,592.9</td><td>1,643.5</td><td>1,803.3</td><td>1,617.5</td></tr><tr><td>Utah</td><td>11.6</td><td>963.4</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><td>171.9</td><td>151.2</td><td>177.8</td><td>144.2</td><td>142.9</td><td>169.2</td><td>210.3</td></tr><tr><td>Vermont</td><td>14.7</td><td>705.8</td><td>15.8</td><td>54.5</td><td>97.8</td><td>93.6</td><td>89.3</td><td>96.3</td><td>112.3</td><td>104.8</td><td>136.4</td><td>102.4</td><td>115.4</td><td>124.2</td><td>113.4</td></tr><tr><td>Virginia</td><td>71.6</td><td>4,051.8</td><td>89.2</td><td>312.9</td><td>558.9</td><td>526.7</td><td>555.2</td><td>566.4</td><td>602.0</td><td>592.9</td><td>659.0</td><td>521.7</td><td>585.1</td><td>631.3</td><td>598.0</td></tr><tr><td>Washington</td><td>75.0</td><td>3,909.2</td><td>91.8</td><td>305.5</td><td>479.6</td><td>402.1</td><td>424.1</td><td>435.8</td><td>702.4</td><td>748.8</td><td>759.0</td><td>592.6</td><td>624.6</td><td>691.5</td><td>602.9</td></tr><tr><td>West Virginia</td><td>32.4</td><td>2,449.7</td><td>34.1</td><td>198.7</td><td>360.8</td><td>336.7</td><td>365.1</td><td>342.9</td><td>375.5</td><td>337.5</td><td>365.3</td><td>305.4</td><td>314.2</td><td>378.2</td><td>387.0</td></tr><tr><td>Wisconsin</td><td>104.7</td><td>5,728.3</td><td>86.4</td><td>423.7</td><td>819.5</td><td>772.7</td><td>813.0</td><td>820.1</td><td>931.7</td><td>880.0</td><td>1,054.6</td><td>876.0</td><td>953.1</td><td>1,108.9</td><td>994.3</td></tr><tr><td>Wyoming</td><td>9.7</td><td>493.6</td><td>9.9</td><td>48.5</td><td>71.9</td><td>69.2</td><td>63.1</td><
Source: Post Office Department, Division of Postal Savings. p. Preliminary.
1/ Sales of United States savinge stamps commenced May 1, 1941.
38
Sales of Tax Series Treasury Notes
Table 1.- Summary, by Series
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month (par value)</th><th>Net change during fiscal year or month</th><th colspan="4">Analysis of net change</th></tr><tr><th></th><th></th><th></th><th colspan="3">Analysis of gross sales</th><th>Exchanged (par value)</th><th>Redemptions (par value)</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></th><th></th></tr><tr><td colspan="8">All series 1/</td></tr><tr><td>1942 2/</td><td>3,014.5</td><td>+3,014.5</td><td>4,138.9</td><td>-17.2</td><td>4,156.2</td><td></td><td>1,124.4</td></tr><tr><td>1941-November</td><td>2,136.4</td><td>+318.8</td><td>319.8</td><td>-5</td><td>320.3</td><td></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></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></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></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></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></td><td>46.6</td></tr><tr><td>May</td><td>3,099.7</td><td>+355.4</td><td>399.3</td><td>4.0</td><td>395.2</td><td></td><td>43.9</td></tr><tr><td>June</td><td>3,014.5</td><td>-85.2</td><td>406.9</td><td>-13.3</td><td>420.2</td><td></td><td>492.1</td></tr><tr><td>July</td><td>3,356.6</td><td>+312.1</td><td>388.2</td><td>+5.9</td><td>382.2</td><td></td><td>46.1</td></tr><tr><td>August</td><td>3,739.3</td><td>+382.7</td><td>417.9</td><td>+18.8</td><td>399.1</td><td></td><td>35.3</td></tr><tr><td>September</td><td>4,137.1</td><td>+397.8</td><td>977.9</td><td>+37.1</td><td>940.8</td><td>48.6</td><td>531.5</td></tr><tr><td>October</td><td>4,963.5</td><td>+826.4</td><td>941.1</td><td>+17.7</td><td>923.4</td><td>19.7</td><td>94.9</td></tr><tr><td>November</td><td>5,702.5</td><td>+739.0</td><td>781.6</td><td>44.5</td><td>777.1p</td><td></td><td>42.6</td></tr><tr><td colspan="8">Series A</td></tr><tr><td>1942 2/</td><td>54.3</td><td>+54.8</td><td>72.2</td><td>.1</td><td>72.1</td><td></td><td>17.4</td></tr><tr><td>1941-November</td><td>36.7</td><td>+4.2</td><td>4.2</td><td>+1.1</td><td>4.1</td><td></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><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></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></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></td><td>10.3</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></td><td>1.2</td></tr><tr><td>May</td><td>53.4</td><td>+4.8</td><td>5.2</td><td>•</td><td>5.2</td><td></td><td>3.3</td></tr><tr><td>June</td><td>54.8</td><td>+1.4</td><td>5.1</td><td>•</td><td>5.1</td><td></td><td>3.7</td></tr><tr><td>July</td><td>60.3</td><td>+5.5</td><td>6.0</td><td>•</td><td>6.0</td><td></td><td>.5</td></tr><tr><td>August</td><td>65.1</td><td>+4.8</td><td>5.1</td><td>+2</td><td>4.9</td><td></td><td>.3</td></tr><tr><td>September</td><td>112.7</td><td>+47.6</td><td>52.6</td><td>-3</td><td>52.9</td><td>•</td><td>5.0</td></tr><tr><td>October</td><td>167.0</td><td>+54.3</td><td>54.7</td><td>+6</td><td>54.1</td><td>.1</td><td>.4</td></tr><tr><td>November</td><td>200.1</td><td>+33.1</td><td>33.5</td><td>+5</td><td>33.0p</td><td>•</td><td>.4</td></tr><tr><td colspan="8">Series B</td></tr><tr><td>1942 2/</td><td>2,959.7</td><td>+2,959.7</td><td>4,066.7</td><td>-17.3</td><td>4,084.1</td><td></td><td>1,107.0</td></tr><tr><td>1941-November</td><td>2,099.7</td><td>+314.6</td><td>315.6</td><td>-6</td><td>316.2</td><td></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></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></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></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></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></td><td>45.4</td></tr><tr><td>May</td><td>3,046.3</td><td>+350.5</td><td>394.1</td><td>44.0</td><td>390.1</td><td></td><td>43.6</td></tr><tr><td>June</td><td>2,959.7</td><td>-86.6</td><td>401.8</td><td>-13.3</td><td>415.1</td><td></td><td>488.4</td></tr><tr><td>July</td><td>3,296.3</td><td>+336.6</td><td>382.2</td><td>+5.9</td><td>376.2</td><td></td><td>45.6</td></tr><tr><td>August</td><td>3,674.2</td><td>+377.8</td><td>412.8</td><td>+18.6</td><td>394.2</td><td></td><td>35.0</td></tr><tr><td>September</td><td>3,181.2</td><td>-493.0</td><td>82.1</td><td>+3</td><td>81.8</td><td>48.6</td><td>526.5</td></tr><tr><td>October</td><td>3,067.4</td><td>-113.7</td><td></td><td></td><td></td><td>19.7</td><td>94.1</td></tr><tr><td>November</td><td>3,026.0</td><td>-11.5</td><td></td><td></td><td></td><td></td><td>41.5</td></tr><tr><td colspan="8">Series C</td></tr><tr><td>1942-September</td><td>843.2</td><td>+843.2</td><td>843.2</td><td>+37.1</td><td>806.1</td><td></td><td>–</td></tr><tr><td>October</td><td>1,729.1</td><td>+885.9</td><td>886.4</td><td>+17.1</td><td>869.2</td><td></td><td>.4</td></tr><tr><td>November</td><td>2,476.5</td><td>+747.4</td><td>748.1</td><td>44.1</td><td>744.0p</td><td></td><td>.8</td></tr></table>
Source
Daily Treasury Statement and reports of gross sales.
1/
Series A notes have been on sale since August 1, 1941, and yield approximately 1.92 percent per annum. The maximum amount which may be used in payment of each class of tax (income, estate, or gift) by each taxpayer during each taxable year is limited to $5,000 per value. If not presented in payment of taxes, the notes will be redeemed at the purchase price only. Series B notes were sold from August 1, 1941 through September 12, 1942. The yield on these notes is approximately .43 percent per annum, and the amount which may be turned in as taxes is unlimited.
If not presented in payment of taxes, the notes will be redeemed at the purchase price only. Series C notes were first offered for sale on September 14, 1942. Interest on these notes accrues each month on a graduated scale, and is equivalent to a yield of approximately 1.07 percent per annum if held to maturity. The amount which may be turned in on taxes is unlimited. If not presented in payment of taxes, the notes will be redeemable at par and accrued interest, either at maturity or, on 30 days' notice, during and after the sixth month after the month of issue.
2
ale of Tax Series Treasury notes began in August 1941.
39
Sales of Tax Series Treasury Notes
(Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="10">Sales in millions of dollars at par</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th colspan="9">Denomination</th><th>Total all denominations</th><th colspan="7">Denomination</th></tr><tr><th></th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th colspan="5">Thousands of dollars</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th colspan="5">Thousands of dollars</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th><th></th><th></th><th></th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th></tr></table>
Series A
<table><tr><td>1942 1/......</td><td>72.1</td><td>2.9</td><td>4.2</td><td>56.2</td><td>3.1</td><td>5.7</td><td></td><td></td><td>100.0</td><td>4.0</td><td>5.8</td><td>78.0</td><td>4.3</td><td>7.9</td><td></td><td></td></tr><tr><td>1941-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>100.0</td><td>6.3</td><td>8.4</td><td>85.4</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>100.0</td><td>5.3</td><td>9.4</td><td>85.2</td><td></td><td></td><td></td><td></td></tr><tr><td>1942-Jan 2/..</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>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></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>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></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>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></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>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></tr><tr><td>May.....</td><td>5.2</td><td>.2</td><td>.3</td><td>2.9</td><td>.6</td><td>1.2</td><td></td><td></td><td>100.0</td><td>3.4</td><td>5.7</td><td>57.1</td><td>11.4</td><td>22.5</td><td></td><td></td></tr><tr><td>June....</td><td>5.1</td><td>.2</td><td>.3</td><td>2.9</td><td>.6</td><td>1.1</td><td></td><td></td><td>100.0</td><td>3.5</td><td>5.7</td><td>57.0</td><td>12.4</td><td>21.3</td><td></td><td></td></tr><tr><td>July....</td><td>6.0</td><td>.2</td><td>.4</td><td>1.3</td><td>.8</td><td>1.4</td><td></td><td></td><td>100.0</td><td>3.4</td><td>5.8</td><td>54.2</td><td>13.1</td><td>23.6</td><td></td><td></td></tr><tr><td>Aug.....</td><td>4.9</td><td>.2</td><td>.3</td><td>2.7</td><td>.6</td><td>1.1</td><td></td><td></td><td>100.0</td><td>3.7</td><td>6.4</td><td>54.2</td><td>12.8</td><td>22.9</td><td></td><td></td></tr><tr><td>Sept. 3/</td><td>52.9</td><td>.3</td><td>.7</td><td>5.8</td><td>8.0</td><td>25.7</td><td>12.3</td><td></td><td>100.0</td><td>.6</td><td>1.2</td><td>11.1</td><td>15.2</td><td>48.6</td><td>23.3</td><td></td></tr><tr><td>Oct.....</td><td>54.1</td><td>.5</td><td>.9</td><td>7.2</td><td>9.8</td><td>25.7</td><td>10.1</td><td></td><td>100.0</td><td>.8</td><td>1.7</td><td>13.2</td><td>18.1</td><td>47.4</td><td>18.7</td><td></td></tr><tr><td>Nov.p...</td><td>33.0</td><td>.4</td><td>.8</td><td>5.3</td><td>6.7</td><td>11.8</td><td>5.0</td><td></td><td>100.0</td><td>1.2</td><td>2.3</td><td>16.1</td><td>20.3</td><td>44.9</td><td>15.1</td><td></td></tr></table>
Series B
<table><tr><td>1942 1/....</td><td>4,084.1</td><td></td><td>6.9</td><td>14.7</td><td>148.5</td><td>566.7</td><td>1,391.8</td><td>366.5</td><td>1,589.0</td><td>100.0</td><td></td><td>.2</td><td>.4</td><td>3.6</td><td>13.8</td><td>34.1</td><td>9.0</td><td>38.9</td></tr><tr><td>1941-Nov....</td><td>316.2</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>.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>.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>.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>.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>.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>.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>.3</td><td>.5</td><td>5.1</td><td>18.6</td><td>39.0</td><td>9.2</td><td>27.3</td></tr><tr><td>Mar.....</td><td>231.9</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>.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>.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>.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>May.....</td><td>390.1</td><td></td><td>.6</td><td>1.1</td><td>12.0</td><td>52.9</td><td>122.4</td><td>43.0</td><td>158.0</td><td>100.0</td><td></td><td>.2</td><td>.3</td><td>3.1</td><td>13.6</td><td>31.4</td><td>11.0</td><td>40.5</td></tr><tr><td>June...</td><td>415.1</td><td></td><td>.6</td><td>1.1</td><td>13.8</td><td>65.5</td><td>148.6</td><td>55.5</td><td>130.0</td><td>100.0</td><td></td><td>.1</td><td>.3</td><td>3.3</td><td>15.8</td><td>35.8</td><td>13.4</td><td>31.3</td></tr><tr><td>July...</td><td>376.2</td><td></td><td>.7</td><td>1.5</td><td>15.9</td><td>71.4</td><td>150.8</td><td>81.0</td><td>55.0</td><td>100.0</td><td></td><td>.2</td><td>.4</td><td>4.2</td><td>19.0</td><td>40.1</td><td>21.5</td><td>14.6</td></tr><tr><td>Aug.....</td><td>394.2</td><td></td><td>.7</td><td>1.4</td><td>16.0</td><td>74.1</td><td>172.5</td><td>37.5</td><td>92.0</td><td>100.0</td><td></td><td>.2</td><td>.4</td><td>4.1</td><td>18.8</td><td>43.8</td><td>9.5</td><td>23.3</td></tr><tr><td>Sept....</td><td>81.8</td><td></td><td>.3</td><td>.5</td><td>3.9</td><td>13.1</td><td>15.5</td><td>21.5</td><td>27.0</td><td>100.0</td><td></td><td>.3</td><td>.6</td><td>4.8</td><td>16.0</td><td>19.0</td><td>26.3</td><td>33.0</td></tr></table>
Series C
<table><tr><td>1942-Sept....</td><td>806.1</td><td></td><td></td><td>16.4</td><td>24.8</td><td>131.2</td><td>267.3</td><td>98.5</td><td>268.0</td><td>100.0</td><td></td><td></td><td></td><td>2.0</td><td>3.1</td><td>16.3</td><td>33.2</td><td>12.2</td><td>33.2</td></tr><tr><td>Oct....</td><td>869.2</td><td></td><td></td><td>19.8</td><td>31.6</td><td>150.1</td><td>297.2</td><td>116.5</td><td>224.0</td><td>100.0</td><td></td><td></td><td></td><td>2.3</td><td>3.6</td><td>17.3</td><td>34.2</td><td>16.9</td><td>25.8</td></tr><tr><td>Nov.p..</td><td>744.0</td><td></td><td></td><td>16.9</td><td>26.2</td><td>126.5</td><td>229.9</td><td>71.5</td><td>273.0</td><td>100.0</td><td></td><td></td><td></td><td>2.3</td><td>3.5</td><td>17.0</td><td>30.9</td><td>9.6</td><td>35.7</td></tr></table>
Source: Reports of gross sales. 1/ Sales of Tax Series Treasury notes began in August 1941.
2) Sale of $500 and $1,000 denominations Tax Series A Treasury notes began in January 1942. 3) Sale of $5,000 denomination Series A notes began in September 1942.
40
Sales of Tax Series Treasury Notes - (Continued)
Table 3.- Sales Reported by Series, Classified by Type of Purchaser
<table><tr><th rowspan="2">Fiscal year or 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>Individuals, partnerships, and fiduciaries</th><th>Corporations</th><th>Total</th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th></tr><tr><td colspan="7">All series</td></tr><tr><td>1942 1/</td><td>4,156.2</td><td>402.5</td><td>3,753.7</td><td>100.0</td><td>9.7</td><td>90.3</td></tr><tr><td>1941-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>May</td><td>395.2</td><td>29.3</td><td>365.9</td><td>100.0</td><td>7.4</td><td>92.6</td></tr><tr><td>June</td><td>420.2</td><td>35.5</td><td>384.7</td><td>100.0</td><td>8.5</td><td>91.5</td></tr><tr><td>July</td><td>382.2</td><td>38.9</td><td>343.4</td><td>100.0</td><td>10.2</td><td>89.8</td></tr><tr><td>August</td><td>399.1</td><td>28.8</td><td>370.3</td><td>100.0</td><td>7.2</td><td>92.8</td></tr><tr><td>September</td><td>940.8</td><td>86.5</td><td>854.3</td><td>100.0</td><td>9.2</td><td>90.8</td></tr><tr><td>October</td><td>923.4</td><td>122.4</td><td>801.0</td><td>100.0</td><td>13.3</td><td>86.7</td></tr><tr><td>November.p</td><td>777.1</td><td>86.4</td><td>690.7</td><td>100.0</td><td>11.1</td><td>88.9</td></tr><tr><td colspan="7">Series A</td></tr><tr><td>1942 1/</td><td>72.1</td><td>63.0</td><td>9.1</td><td>100.0</td><td>87.4</td><td>12.6</td></tr><tr><td>1941-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>May</td><td>5.2</td><td>4.7</td><td>.4</td><td>100.0</td><td>91.7</td><td>8.3</td></tr><tr><td>June</td><td>5.1</td><td>4.6</td><td>.5</td><td>100.0</td><td>90.3</td><td>9.7</td></tr><tr><td>July</td><td>6.0</td><td>5.4</td><td>.6</td><td>100.0</td><td>90.1</td><td>9.9</td></tr><tr><td>August</td><td>4.9</td><td>4.3</td><td>.6</td><td>100.0</td><td>87.7</td><td>12.3</td></tr><tr><td>September</td><td>52.9</td><td>35.6</td><td>17.2</td><td>100.0</td><td>67.4</td><td>32.6</td></tr><tr><td>October</td><td>54.1</td><td>42.7</td><td>11.4</td><td>100.0</td><td>78.9</td><td>21.1</td></tr><tr><td>November.p</td><td>33.0</td><td>26.0</td><td>7.0</td><td>100.0</td><td>78.7</td><td>21.3</td></tr><tr><td colspan="7">Series B</td></tr><tr><td>1942 1/</td><td>4,084.1</td><td>339.5</td><td>3,744.6</td><td>100.0</td><td>8.3</td><td>91.7</td></tr><tr><td>1941-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>12.9</td><td>87.1</td></tr><tr><td>May</td><td>390.1</td><td>24.6</td><td>365.5</td><td>100.0</td><td>6.3</td><td>93.7</td></tr><tr><td>June</td><td>415.1</td><td>30.9</td><td>384.2</td><td>100.0</td><td>7.4</td><td>92.6</td></tr><tr><td>July</td><td>376.2</td><td>33.5</td><td>342.8</td><td>100.0</td><td>8.9</td><td>91.1</td></tr><tr><td>August</td><td>394.2</td><td>24.5</td><td>369.7</td><td>100.0</td><td>6.2</td><td>93.8</td></tr><tr><td>September</td><td>81.8</td><td>5.6</td><td>76.2</td><td>100.0</td><td>6.8</td><td>93.2</td></tr><tr><td colspan="7">Series C</td></tr><tr><td>1942-September</td><td>806.1</td><td>45.3</td><td>760.8</td><td>100.0</td><td>5.6</td><td>94.4</td></tr><tr><td>October</td><td>869.2</td><td>79.7</td><td>789.6</td><td>100.0</td><td>9.2</td><td>90.8</td></tr><tr><td>November.p</td><td>744.0</td><td>60.4</td><td>683.6</td><td>100.0</td><td>8.1</td><td>91.9</td></tr></table>
Source: Reports of gross sales. 1/ Sales of Tax Series Treasury notes began in August 1941.
41
Sales of Tax Series Treasury Notes
(Continued)
Table 4.- Redemptions by Series, Classified by Means of Payment
<table><tr><th rowspan="2">Fiscal year or 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>Means of payment<br>Received for taxes</th><th>Cash<br>redemptions</th><th>Total</th><th>Means of payment<br>Received for taxes</th><th>Cash<br>redemptions</th></tr><tr><td colspan="7">All series</td></tr><tr><td>1942 1/</td><td>1.124.4</td><td>1.103.7</td><td>20.7</td><td>100.0</td><td>98.2</td><td>1.8</td></tr><tr><td>1941-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>May</td><td>43.9</td><td>42.1</td><td>1.8</td><td>100.0</td><td>95.9</td><td>4.1</td></tr><tr><td>June</td><td>492.1</td><td>485.2</td><td>6.9</td><td>100.0</td><td>98.6</td><td>1.4</td></tr><tr><td>July</td><td>46.1</td><td>44.8</td><td>1.3</td><td>100.0</td><td>97.3</td><td>2.7</td></tr><tr><td>August</td><td>35.3</td><td>29.4</td><td>5.8</td><td>100.0</td><td>83.4</td><td>16.6</td></tr><tr><td>September</td><td>531.5</td><td>527.3</td><td>4.1</td><td>100.0</td><td>99.2</td><td>.8</td></tr><tr><td>October</td><td>94.9</td><td>56.3</td><td>38.6</td><td>100.0</td><td>59.3</td><td>40.7</td></tr><tr><td>November</td><td>42.6</td><td>37.8</td><td>4.9</td><td>100.0</td><td>88.6</td><td>11.4</td></tr><tr><td colspan="7">Series A</td></tr><tr><td>1942 1/</td><td>17.4</td><td>16.6</td><td>.8</td><td>100.0</td><td>95.6</td><td>4.4</td></tr><tr><td>1941-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>97.3</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>May</td><td>.3</td><td>.2</td><td>.1</td><td>100.0</td><td>76.1</td><td>23.9</td></tr><tr><td>June</td><td>3.7</td><td>3.6</td><td>.1</td><td>100.0</td><td>97.2</td><td>2.8</td></tr><tr><td>July</td><td>.5</td><td>.3</td><td>.1</td><td>100.0</td><td>72.6</td><td>27.4</td></tr><tr><td>August</td><td>.3</td><td>.2</td><td>.1</td><td>100.0</td><td>60.8</td><td>39.2</td></tr><tr><td>September</td><td>5.0</td><td>4.9</td><td>.1</td><td>100.0</td><td>97.4</td><td>2.6</td></tr><tr><td>October</td><td>.1</td><td>.2</td><td>.2</td><td>100.0</td><td>47.1</td><td>52.6</td></tr><tr><td>November</td><td>.1</td><td>.2</td><td>.2</td><td>100.0</td><td>48.7</td><td>51.3</td></tr><tr><td colspan="7">Series B</td></tr><tr><td>1942 1/</td><td>1,107.0</td><td>1,087.1</td><td>19.9</td><td>100.0</td><td>98.2</td><td>1.8</td></tr><tr><td>1941-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>1942-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>494.8</td><td>494.2</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>May</td><td>43.6</td><td>41.9</td><td>1.7</td><td>100.0</td><td>96.0</td><td>4.0</td></tr><tr><td>June</td><td>488.4</td><td>481.6</td><td>6.9</td><td>100.0</td><td>98.6</td><td>1.4</td></tr><tr><td>July</td><td>45.6</td><td>44.5</td><td>1.1</td><td>100.0</td><td>97.5</td><td>2.5</td></tr><tr><td>August</td><td>35.0</td><td>29.3</td><td>5.7</td><td>100.0</td><td>83.6</td><td>16.4</td></tr><tr><td>September</td><td>526.5</td><td>522.5</td><td>4.0</td><td>100.0</td><td>99.2</td><td>.8</td></tr><tr><td>October</td><td>94.1</td><td>56.1</td><td>37.9</td><td>100.0</td><td>59.7</td><td>40.3</td></tr><tr><td>November</td><td>41.5</td><td>36.8</td><td>4.6</td><td>100.0</td><td>88.8</td><td>11.2</td></tr><tr><td colspan="7">Series C 2/</td></tr><tr><td>1942-September</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>.1 3/</td><td>-</td><td>.4 3/</td><td>100.0</td><td>-</td><td>100.0</td></tr><tr><td>November</td><td>.8</td><td>.7</td><td>.1 3/</td><td>100.0</td><td>97.2</td><td>2.8</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000. 1/ Sale of Tax Series Treasury notes began in August 1941.
2/ Series C notes were first offered for sale on September 14, 1942 and may not be redeemed for cash until the sixth month after the date of issue.
3/ Special redemption.
OWNERSHIP
OF
GOVERNMENT
SECURITIES
42
43
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="3">End of fiscal year or month</th><th colspan="7">Securities issued by United States Government</th><th colspan="4">Securities guaranteed by United States 1/</th></tr><tr><th rowspan="2">Total amount outstanding</th><th colspan="4">Distribution by classes of holders</th><th rowspan="2">Private investors 4/</th><th colspan="4">Distribution by classes of holders</th></tr><tr><th>U. S. Government agencies and trust funds 2/</th><th>Federal Reserve Banks 3/</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</th><th>Public non-marketable issues</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>Total amount unamatured outstanding</th><th>Public marketable issues</th><th>Public non-marketable issues</th></tr><tr><td>1933</td><td>22,158</td><td>690</td><td>367</td><td>-</td><td>323</td><td>1,998</td><td>19,469</td><td>19,469</td><td>-</td><td>681</td><td>150</td><td>531</td></tr><tr><td>1934</td><td>26,480</td><td>1,288</td><td>892</td><td>-</td><td>396</td><td>2,432</td><td>22,760</td><td>22,760</td><td>-</td><td>4,123</td><td>362</td><td>3,761</td></tr><tr><td>1935</td><td>27,645</td><td>1,629</td><td>996</td><td>*</td><td>633</td><td>2,433</td><td>23,583</td><td>23,521</td><td>62</td><td>4,718</td><td>375</td><td>4,343</td></tr><tr><td>1936</td><td>32,989</td><td>1,945</td><td>1,319</td><td>*</td><td>626</td><td>2,430</td><td>28,614</td><td>27,353</td><td>1,261</td><td>4,665</td><td>363</td><td>4,302</td></tr><tr><td>1937</td><td>35,800</td><td>3,221</td><td>1,663</td><td>*</td><td>1,558</td><td>2,526</td><td>30,053</td><td>28,865</td><td>1,188</td><td></td><td></td><td></td></tr><tr><td>1938</td><td>36,576</td><td>4,452</td><td>1,776</td><td>*</td><td>2,676</td><td>2,564</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>*</td><td>3,770</td><td>2,551</td><td>31,735</td><td>29,594</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>*</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>2,093</td><td>1</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>1942</td><td>71,968</td><td>10,330</td><td>2,442</td><td>3</td><td>7,885</td><td>2,641</td><td>58,997</td><td>45,490</td><td>13,507</td><td>4,549</td><td>286</td><td>4,263</td></tr><tr><td>1941-Nov.</td><td>54,536</td><td>9,031</td><td>2,224</td><td>1</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>Dec.</td><td>57,451</td><td>9,249</td><td>2,266</td><td>1</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-Jan.</td><td>59,531</td><td>9,332</td><td>2,268</td><td>1</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>Feb.</td><td>61,895</td><td>9,537</td><td>2,315</td><td>2</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>Mar.</td><td>61,940</td><td>9,687</td><td>2,351</td><td>3</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>Apr.</td><td>64,496</td><td>9,721</td><td>2,360</td><td>3</td><td>7,358</td><td>2,346</td><td>52,429</td><td>40,431</td><td>11,999</td><td>5,666</td><td>295</td><td>5,372</td></tr><tr><td>May</td><td>68,108</td><td>9,943</td><td>2,422</td><td>3</td><td>7,518</td><td>2,482</td><td>55,683</td><td>42,711</td><td>12,973</td><td>5,667</td><td>291</td><td>5,376</td></tr><tr><td>June</td><td>71,968</td><td>10,330</td><td>2,442</td><td>3</td><td>7,885</td><td>2,640</td><td>58,998</td><td>45,491</td><td>13,507</td><td>4,549</td><td>286</td><td>4,263</td></tr><tr><td>July</td><td>76,694</td><td>10,582</td><td>2,453</td><td>4</td><td>8,125</td><td>3,148</td><td>62,964</td><td>48,225</td><td>14,739</td><td>4,551</td><td>289</td><td>4,225</td></tr><tr><td>Aug.</td><td>81,244</td><td>10,854</td><td>2,588</td><td>4</td><td>8,262</td><td>3,421</td><td>66,969</td><td>51,167</td><td>15,801</td><td>4,567</td><td>297</td><td>4,217</td></tr><tr><td>Sept.</td><td>85,847</td><td>11,106</td><td>2,592</td><td>4</td><td>8,509</td><td>3,552</td><td>71,189</td><td>54,257</td><td>16,932</td><td>4,552</td><td>319</td><td>4,196</td></tr><tr><td>Oct.</td><td>92,265</td><td>11,198</td><td>2,609</td><td>4</td><td>8,585</td><td>4,649</td><td>76,417</td><td>57,750</td><td>18,667</td><td>4,243</td><td>326</td><td>3,870</td></tr><tr><td>Nov.</td><td>95,458</td><td>11,401p</td><td>2,610p</td><td>4p</td><td>8,787</td><td>5,377</td><td>78,681p</td><td>58,568p</td><td>20,113p</td><td>4,244</td><td>331p</td><td>3,865p</td></tr></table>
Source: (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. p Preliminary. r Revised. * Less than $500,000. 1/ Excludes matured securities and obligations sold directly to the Treasury.
2/ Excludes Exchange Stabilization Fund. U. S. Government trust fund figures shown for June 30 of each year are as of the end of the month; other figures through April 30, 1942 are as of the Wednesday nearest the end of the month.
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 through May 1942; thereafter as of 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.
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>-14.9</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>-1.4</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>.3</td><td>-2.3</td><td>-8.4</td><td>-14.5</td><td>-1.0</td><td>-</td><td>-</td></tr></table>
Less than $50,000. 
1/ Consists of purchases or sales made by the Treasury. 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, and excludes the Exchange Stabilization Fund.
44
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, October 31, 1942
The following tables present summary data from the Treasury survey, as of October 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 Provisiona
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th rowspan="2">Classification</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 7,007 institutions</th><th>Total</th><th>5,760 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>757 insurance companies</th><th>199 life insurance companies</th><th>553 fire, casualty, and marine insurance companies</th></tr><tr><td>I. 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>5,126</td><td>3,612</td><td>3,486</td><td>3,468</td><td>18</td><td>126</td><td>105</td><td>21</td><td>483</td><td>1,031</td></tr><tr><td>Certificates of indebtedness</td><td>6,211</td><td>4,136</td><td>3,871</td><td>3,782</td><td>90</td><td>265</td><td>178</td><td>87</td><td>748</td><td>1,326</td></tr><tr><td>Treasury notes</td><td>10,095</td><td>6,328</td><td>6,033</td><td>5,830</td><td>204</td><td>295</td><td>168</td><td>127</td><td>1,376</td><td>2,391</td></tr><tr><td>Treasury bonds</td><td>43,381</td><td>29,713</td><td>21,122</td><td>17,357</td><td>3,765</td><td>8,591</td><td>7,128</td><td>1,463</td><td>4,699</td><td>8,969</td></tr><tr><td>Other bonds</td><td>196</td><td>12</td><td>11</td><td>11</td><td>*</td><td>1</td><td>*</td><td>1</td><td>33</td><td>151</td></tr><tr><td>Guaranteed issues 3/</td><td>4,195</td><td>3,108</td><td>2,759</td><td>2,637</td><td>122</td><td>349</td><td>290</td><td>59</td><td>321</td><td>766</td></tr><tr><td>Total</td><td>69,204</td><td>46,910</td><td>37,283</td><td>33,084</td><td>4,199</td><td>9,626</td><td>7,869</td><td>1,757</td><td>7,660</td><td>14,634</td></tr><tr><td>II. 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>15,129</td><td>9,778</td><td>9,097</td><td>8,842</td><td>255</td><td>682</td><td>468</td><td>214</td><td>1,576</td><td>3,675</td></tr><tr><td>1 to 5 years</td><td>19,391</td><td>13,063</td><td>11,230</td><td>10,522</td><td>708</td><td>1,832</td><td>1,391</td><td>442</td><td>2,329</td><td>4,499</td></tr><tr><td>5 to 10 years</td><td>20,427</td><td>15,143</td><td>12,532</td><td>10,508</td><td>2,024</td><td>2,611</td><td>2,125</td><td>486</td><td>2,028</td><td>3,256</td></tr><tr><td>10 to 15 years</td><td>6,447</td><td>3,970</td><td>2,553</td><td>1,974</td><td>578</td><td>1,417</td><td>1,170</td><td>248</td><td>862</td><td>1,616</td></tr><tr><td>15 to 20 years</td><td>4,572</td><td>3,288</td><td>852</td><td>576</td><td>276</td><td>2,435</td><td>2,133</td><td>303</td><td>411</td><td>873</td></tr><tr><td>Over 20 years</td><td>2,716</td><td>1,648</td><td>1,011</td><td>655</td><td>357</td><td>637</td><td>571</td><td>65</td><td>353</td><td>715</td></tr><tr><td>Federal Housing Administration debentures</td><td>21</td><td>20</td><td>8</td><td>7</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td></tr><tr><td>Total</td><td>69,204</td><td>46,910</td><td>37,283</td><td>33,084</td><td>4,199</td><td>9,626</td><td>7,869</td><td>1,757</td><td>7,660</td><td>14,634</td></tr><tr><td>III. 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>3,690</td><td>1,449</td><td>1,334</td><td>1,300</td><td>35</td><td>114</td><td>59</td><td>55</td><td>590</td><td>1,651</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>29,469</td><td>19,741</td><td>14,187</td><td>12,741</td><td>1,446</td><td>5,554</td><td>4,369</td><td>1,185</td><td>3,357</td><td>6,372</td></tr><tr><td>Subject to Federal income taxes</td><td>36,045</td><td>25,720</td><td>21,762</td><td>19,044</td><td>2,718</td><td>3,958</td><td>3,441</td><td>517</td><td>3,713</td><td>6,612</td></tr><tr><td>Total</td><td>69,204</td><td>46,910</td><td>37,283</td><td>33,084</td><td>4,199</td><td>9,626</td><td>7,869</td><td>1,757</td><td>7,660</td><td>14,634</td></tr></table>
(Continued on following page)
45
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, October 31, 1942 - (Continued)
Table I.- 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>Classification</th><th>Total amount out- standing</th><th>Total 7,007 institutions</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>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,250 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>5,760 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>159 life insurance companies</th><th>558 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>I. 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>7.4</td><td>7.7</td><td>9.3</td><td>10.5</td><td>.4</td><td>1.3</td><td>1.3</td><td>1.2</td><td>6.3</td><td>7.0</td></tr><tr><td>Certificates of indebtedness</td><td>9.0</td><td>8.8</td><td>10.4</td><td>11.4</td><td>2.1</td><td>2.8</td><td>2.3</td><td>4.9</td><td>9.8</td><td>9.1</td></tr><tr><td>Treasury notes</td><td>14.6</td><td>13.5</td><td>16.2</td><td>17.6</td><td>4.3</td><td>1.1</td><td>2.1</td><td>7.2</td><td>18.0</td><td>16.3</td></tr><tr><td>Treasury bonds</td><td>62.7</td><td>63.3</td><td>56.7</td><td>52.5</td><td>89.7</td><td>89.2</td><td>90.6</td><td>37.2</td><td>61.3</td><td>61.3</td></tr><tr><td>Other bonds</td><td>.3</td><td></td><td></td><td>.7</td><td></td><td>.3</td><td>.6</td><td>.3</td><td>.4</td><td>1.0</td></tr><tr><td>Guaranteed issues 1/</td><td>6.1</td><td>6.6</td><td>7.4</td><td>8.0</td><td>2.9</td><td>3.6</td><td>3.7</td><td>3.1</td><td>4.2</td><td>5.2</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>II. 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>21.9</td><td>20.8</td><td>24.4</td><td>26.7</td><td>6.1</td><td>7.1</td><td>5.9</td><td>12.2</td><td>21.9</td><td>25.1</td></tr><tr><td>1 to 5 years</td><td>28.7</td><td>27.8</td><td>37.1</td><td>31.8</td><td>16.9</td><td>19.0</td><td>17.7</td><td>25.1</td><td>30.4</td><td>30.7</td></tr><tr><td>5 to 10 years</td><td>29.5</td><td>32.3</td><td>33.6</td><td>31.3</td><td>48.2</td><td>27.1</td><td>27.0</td><td>27.7</td><td>26.5</td><td>22.2</td></tr><tr><td>10 to 15 years</td><td>9.3</td><td>8.5</td><td>6.8</td><td>6.0</td><td>13.8</td><td>14.7</td><td>14.9</td><td>14.1</td><td>11.2</td><td>11.0</td></tr><tr><td>15 to 20 years</td><td>6.6</td><td>7.0</td><td>2.3</td><td>1.7</td><td>6.6</td><td>25.3</td><td>27.1</td><td>17.2</td><td>5.4</td><td>6.0</td></tr><tr><td>Over 20 years</td><td>3.9</td><td>3.5</td><td>2.7</td><td>2.0</td><td>8.5</td><td>6.6</td><td>7.3</td><td>3.7</td><td>4.6</td><td>4.9</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>III. 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>5.3</td><td>3.1</td><td>3.6</td><td>3.9</td><td>.8</td><td>1.2</td><td>.7</td><td>3.2</td><td>7.7</td><td>11.1</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>42.6</td><td>42.1</td><td>33.1</td><td>38.5</td><td>34.4</td><td>57.7</td><td>55.5</td><td>67.4</td><td>43.8</td><td>41.5</td></tr><tr><td>Subject to Federal income taxes</td><td>52.1</td><td>54.8</td><td>58.4</td><td>57.6</td><td>64.7</td><td>41.1</td><td>43.7</td><td>29.4</td><td>43.5</td><td>45.2</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">Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Sold 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 7,007 institutions</th><th>Total</th><th>6,250 commercial banks</th><th>490 mutual savings banks</th><th>757 insurance companies</th><th>199 life insurance companies</th><th>558 fire, casualty, and marine insurance companies</th></tr><tr><td>I. 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>70.5</td><td>68.0</td><td>67.7</td><td>.3</td><td>2.5</td><td>2.1</td><td>.4</td><td>9.4</td><td>20.1</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>66.6</td><td>62.3</td><td>60.9</td><td>1.4</td><td>4.3</td><td>2.9</td><td>1.4</td><td>12.1</td><td>21.4</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>62.7</td><td>59.8</td><td>57.7</td><td>2.0</td><td>2.9</td><td>1.7</td><td>1.3</td><td>13.6</td><td>23.7</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>68.5</td><td>48.7</td><td>40.0</td><td>8.7</td><td>19.8</td><td>16.4</td><td>3.4</td><td>10.8</td><td>20.7</td></tr><tr><td>Other bonds</td><td>100.0</td><td>6.2</td><td>5.9</td><td>5.7</td><td>.1</td><td>.4</td><td>.1</td><td>.3</td><td>16.9</td><td>76.9</td></tr><tr><td>Guaranteed issues 3/</td><td>100.0</td><td>74.1</td><td>65.8</td><td>62.9</td><td>2.9</td><td>8.3</td><td>6.9</td><td>1.4</td><td>7.5</td><td>13.3</td></tr><tr><td>Total</td><td>100.0</td><td>67.8</td><td>53.9</td><td>47.8</td><td>6.1</td><td>13.9</td><td>11.4</td><td>2.5</td><td>11.1</td><td>21.1</td></tr><tr><td>II. 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>64.6</td><td>60.1</td><td>58.4</td><td>1.7</td><td>4.5</td><td>3.1</td><td>1.4</td><td>11.1</td><td>24.3</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>65.7</td><td>56.5</td><td>52.9</td><td>3.6</td><td>9.2</td><td>7.0</td><td>2.2</td><td>11.7</td><td>22.5</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>74.1</td><td>61.3</td><td>51.4</td><td>9.9</td><td>12.8</td><td>10.4</td><td>2.4</td><td>9.9</td><td>15.9</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>61.6</td><td>39.5</td><td>30.6</td><td>9.0</td><td>22.0</td><td>18.1</td><td>3.3</td><td>13.4</td><td>25.1</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>71.9</td><td>18.6</td><td>12.5</td><td>6.0</td><td>53.3</td><td>46.6</td><td>6.6</td><td>9.0</td><td>13.1</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>60.7</td><td>37.2</td><td>24.1</td><td>13.1</td><td>23.4</td><td>21.0</td><td>2.4</td><td>13.0</td><td>26.3</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>93.3</td><td>36.2</td><td>33.3</td><td>3.0</td><td>57.0</td><td>56.7</td><td>.4</td><td>5.5</td><td>1.2</td></tr><tr><td>Total</td><td>100.0</td><td>67.8</td><td>53.9</td><td>47.8</td><td>6.1</td><td>13.9</td><td>11.4</td><td>2.5</td><td>11.1</td><td>21.1</td></tr><tr><td>III. 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>39.3</td><td>36.2</td><td>35.2</td><td>.9</td><td>3.1</td><td>1.6</td><td>1.5</td><td>16.0</td><td>44.3</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>100.0</td><td>67.0</td><td>48.1</td><td>43.2</td><td>4.9</td><td>13.8</td><td>14.8</td><td>4.0</td><td>11.4</td><td>21.6</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>71.4</td><td>60.4</td><td>52.8</td><td>7.5</td><td>11.0</td><td>9.5</td><td>1.4</td><td>10.3</td><td>18.3</td></tr><tr><td>Total</td><td>100.0</td><td>67.8</td><td>53.9</td><td>47.8</td><td>6.1</td><td>13.9</td><td>11.4</td><td>2.5</td><td>11.1</td><td>21.1</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 interest-bearing securities include all interest-bearing securities outstanding 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 and (6) Commodity Credit Corporation demand obligations. Such obligations were held by institutions reporting, as follows: (1) depository bonds: commercial banks, $36 millions; (2) United States savings bonds: commercial banks, $130 millions; mutual savings banks, $63 millions; insurance companies,
$91 millions; all institutions, $334 millions; (3) tax series notes: commercial banks, $52 millions; mutual savings banks, $4 millions; insurance companies, $24 millions; all institutions, $80 millions; (4) Commodity Credit Corporation demand obligations: holdings of these obligations are not reported. Excludes Exchange Stabilization Fund. Excludes obligations sold directly to the Treasury. Securites the income from which is exempt from the normal rates and the surtax rates of the Federal income tax. 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.)
46
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, October 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 7,007 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treeeury survey</th><th colspan="3">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></th><th></th><th colspan="2">6,250 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>5,760 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>199 life, insurance companies</th><th>558 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td colspan="10">I. Wholly exempt from Federal income taxes 3/</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>1-3/4% December 1942</td><td>232</td><td>113</td><td>100</td><td>90</td><td>10</td><td>13</td><td>3</td><td>10</td><td>31</td><td>83</td></tr><tr><td>1-1/8% June 1943</td><td>629</td><td>197</td><td>182</td><td>173</td><td>9</td><td>15</td><td>3</td><td>12</td><td>116</td><td>316</td></tr><tr><td>1% September 1943</td><td>280</td><td>134</td><td>128</td><td>126</td><td>2</td><td>6</td><td>3</td><td>3</td><td>33</td><td>112</td></tr><tr><td>1-1/8% December 1943</td><td>421</td><td>134</td><td>102</td><td>97</td><td>4</td><td>32</td><td>26</td><td>6</td><td>51</td><td>236</td></tr><tr><td>1% March 1944</td><td>515</td><td>257</td><td>248</td><td>245</td><td>3</td><td>8</td><td>2</td><td>6</td><td>107</td><td>151</td></tr><tr><td>3/4% June 1944</td><td>416</td><td>217</td><td>210</td><td>208</td><td>2</td><td>7</td><td>2</td><td>5</td><td>72</td><td>126</td></tr><tr><td>1% September 1944</td><td>283</td><td>45</td><td>44</td><td>42</td><td>2</td><td>1</td><td>*</td><td>1</td><td>59</td><td>179</td></tr><tr><td>3/4% March 1945</td><td>718</td><td>339</td><td>308</td><td>306</td><td>2</td><td>31</td><td>19</td><td>12</td><td>87</td><td>292</td></tr><tr><td>Total Treasury notes</td><td>3,494</td><td>1,436</td><td>1,323</td><td>1,288</td><td>35</td><td>113</td><td>58</td><td>55</td><td>557</td><td>1,501</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>11</td><td>11</td><td>11</td><td>*</td><td>1</td><td>*</td><td>*</td><td>33</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>12</td><td>11</td><td>11</td><td>*</td><td>1</td><td>*</td><td>1</td><td>33</td><td>151</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>3,690</td><td>1,449</td><td>1,334</td><td>1,300</td><td>35</td><td>114</td><td>59</td><td>55</td><td>590</td><td>1,651</td></tr><tr><td colspan="10">II. Partially exempt from Federal income taxes 4/</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>269</td><td>204</td><td>156</td><td>47</td><td>65</td><td>49</td><td>16</td><td>46</td><td>139</td></tr><tr><td>3-1/4% October 1943-45</td><td>1,401</td><td>769</td><td>602</td><td>531</td><td>67</td><td>168</td><td>117</td><td>51</td><td>146</td><td>485</td></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>399</td><td>662</td><td>590</td><td>67</td><td>237</td><td>181</td><td>56</td><td>164</td><td>456</td></tr><tr><td>4% December 1944-54</td><td>1,037</td><td>645</td><td>493</td><td>431</td><td>62</td><td>152</td><td>113</td><td>39</td><td>105</td><td>287</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>779</td><td>570</td><td>510</td><td>60</td><td>209</td><td>167</td><td>42</td><td>141</td><td>294</td></tr><tr><td>2-1/2% December 1945</td><td>541</td><td>419</td><td>327</td><td>304</td><td>23</td><td>92</td><td>59</td><td>33</td><td>31</td><td>91</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>321</td><td>217</td><td>188</td><td>28</td><td>104</td><td>92</td><td>13</td><td>62</td><td>106</td></tr><tr><td>3% June 1946-48</td><td>1,036</td><td>655</td><td>469</td><td>406</td><td>63</td><td>186</td><td>156</td><td>30</td><td>191</td><td>191</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>493</td><td>352</td><td>297</td><td>55</td><td>141</td><td>116</td><td>25</td><td>76</td><td>250</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>416</td><td>279</td><td>222</td><td>57</td><td>137</td><td>79</td><td>57</td><td>84</td><td>259</td></tr><tr><td>2% December 1947</td><td>701</td><td>598</td><td>522</td><td>505</td><td>17</td><td>76</td><td>49</td><td>27</td><td>12</td><td>91</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,224</td><td>951</td><td>710</td><td>638</td><td>72</td><td>241</td><td>203</td><td>38</td><td>145</td><td>127</td></tr><tr><td>2-1/2% September 1948</td><td>451</td><td>370</td><td>292</td><td>281</td><td>11</td><td>78</td><td>64</td><td>13</td><td>27</td><td>54</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>472</td><td>410</td><td>404</td><td>6</td><td>62</td><td>39</td><td>22</td><td>51</td><td>49</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>404</td><td>262</td><td>214</td><td>49</td><td>142</td><td>103</td><td>38</td><td>40</td><td>48</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,256</td><td>1,000</td><td>906</td><td>94</td><td>256</td><td>200</td><td>57</td><td>262</td><td>268</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>926</td><td>726</td><td>644</td><td>82</td><td>200</td><td>149</td><td>50</td><td>128</td><td>132</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,203</td><td>775</td><td>644</td><td>131</td><td>428</td><td>364</td><td>64</td><td>190</td><td>234</td></tr><tr><td>3% September 1951-55</td><td>755</td><td>324</td><td>228</td><td>168</td><td>61</td><td>95</td><td>72</td><td>24</td><td>110</td><td>321</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>822</td><td>752</td><td>721</td><td>31</td><td>70</td><td>48</td><td>22</td><td>160</td><td>136</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>625</td><td>593</td><td>582</td><td>11</td><td>32</td><td>11</td><td>20</td><td>38</td><td>62</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>538</td><td>399</td><td>388</td><td>11</td><td>139</td><td>105</td><td>34</td><td>50</td><td>92</td></tr><tr><td>2-7/8% March 1955-60</td><td>2,611</td><td>1,168</td><td>589</td><td>464</td><td>125</td><td>579</td><td>470</td><td>109</td><td>456</td><td>987</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>616</td><td>344</td><td>298</td><td>46</td><td>272</td><td>212</td><td>60</td><td>178</td><td>183</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>699</td><td>258</td><td>215</td><td>43</td><td>442</td><td>355</td><td>87</td><td>102</td><td>117</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,066</td><td>399</td><td>361</td><td>38</td><td>667</td><td>542</td><td>125</td><td>123</td><td>292</td></tr><tr><td>Total Treasury bonds</td><td>26,581</td><td>17,704</td><td>12,435</td><td>11,076</td><td>1,359</td><td>5,269</td><td>4,116</td><td>1,153</td><td>3,122</td><td>5,755</td></tr></table>
(Continued on following page)
47
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, October 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 rowspan="2">Issue, classified by tax-exemption provision</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 7,007 institutions</th><th>Total</th><th>6,250 commercial banks</th><th>490 mutual savings banks</th><th>757 insurance companies</th><th>199 life insurance companies</th><th>558 fire, casualty, and marine insurance companies</th></tr><tr><td colspan="10">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 3/4/6 May 1943</td><td>290</td><td>242</td><td>235</td><td>233</td><td>2</td><td>7</td><td>4</td><td>3</td><td>47</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1944-64</td><td>95</td><td>65</td><td>36</td><td>24</td><td>12</td><td>29</td><td>27</td><td>1</td><td>2</td><td>28</td></tr><tr><td>3/4 May 1944-49</td><td>835</td><td>534</td><td>421</td><td>398</td><td>23</td><td>113</td><td>102</td><td>11</td><td>89</td><td>212</td></tr><tr><td>Federal Housing Administration debentures</td><td>21</td><td>20</td><td>8</td><td>7</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td></tr><tr><td>Home Owners' Loan Corporation 3% May 1944-52</td><td>779</td><td>389</td><td>315</td><td>278</td><td>33</td><td>74</td><td>67</td><td>7</td><td>139</td><td>250</td></tr><tr><td>1-1/2% June 1945-47</td><td>755</td><td>690</td><td>643</td><td>633</td><td>9</td><td>47</td><td>39</td><td>8</td><td>3</td><td>62</td></tr><tr><td>United States Housing Authority 1-3/8% February 1944</td><td>114</td><td>96</td><td>93</td><td>91</td><td>2</td><td>3</td><td>2</td><td>2</td><td>*</td><td>18</td></tr><tr><td>Total guaranteed issues</td><td>2,888</td><td>2,036</td><td>1,751</td><td>1,664</td><td>87</td><td>285</td><td>253</td><td>32</td><td>235</td><td>617</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>29,469</td><td>19,741</td><td>14,187</td><td>12,741</td><td>1,446</td><td>5,554</td><td>4,369</td><td>1,185</td><td>3,357</td><td>6,372</td></tr><tr><td colspan="10">III. Subject to Federal income taxes</td></tr><tr><td>Treasury bills</td><td>5,126</td><td>3,612</td><td>3,486</td><td>3,468</td><td>18</td><td>126</td><td>105</td><td>21</td><td>483</td><td>1,031</td></tr><tr><td>Certificates of indebtedness 1/2% November 1942</td><td>1,507</td><td>803</td><td>682</td><td>648</td><td>33</td><td>122</td><td>91</td><td>31</td><td>296</td><td>407</td></tr><tr><td>5/8% February 1943</td><td>1,589</td><td>1,031</td><td>981</td><td>953</td><td>18</td><td>50</td><td>27</td><td>23</td><td>232</td><td>325</td></tr><tr><td>65% May 1943</td><td>1,506</td><td>1,110</td><td>1,066</td><td>1,052</td><td>14</td><td>44</td><td>30</td><td>14</td><td>121</td><td>275</td></tr><tr><td>7/8% August 1943</td><td>1,609</td><td>1,191</td><td>1,142</td><td>1,118</td><td>24</td><td>49</td><td>29</td><td>20</td><td>100</td><td>319</td></tr><tr><td>Total certificates of indebtedness</td><td>6,211</td><td>4,136</td><td>3,871</td><td>3,782</td><td>90</td><td>265</td><td>178</td><td>87</td><td>748</td><td>1,326</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><td></td></tr><tr><td>3/4% March 1943</td><td>66</td><td>14</td><td>13</td><td>12</td><td>2</td><td>*</td><td>*</td><td>*</td><td>39</td><td>13</td></tr><tr><td>3/4% September 1944</td><td>635</td><td>512</td><td>482</td><td>461</td><td>21</td><td>31</td><td>21</td><td>10</td><td>15</td><td>107</td></tr><tr><td>1-1/4% March 1945</td><td>1,606</td><td>1,118</td><td>1,085</td><td>1,043</td><td>42</td><td>34</td><td>19</td><td>15</td><td>229</td><td>259</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>445</td><td>416</td><td>398</td><td>18</td><td>30</td><td>20</td><td>10</td><td>17</td><td>68</td></tr><tr><td>1% March 1946</td><td>503</td><td>402</td><td>367</td><td>353</td><td>14</td><td>35</td><td>24</td><td>11</td><td>16</td><td>84</td></tr><tr><td>1-1/2% December 1946</td><td>3,261</td><td>2,400</td><td>2,348</td><td>2,276</td><td>72</td><td>52</td><td>25</td><td>27</td><td>502</td><td>359</td></tr><tr><td>Total Treasury notes</td><td>6,602</td><td>4,892</td><td>4,710</td><td>4,541</td><td>169</td><td>182</td><td>109</td><td>72</td><td>819</td><td>891</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>2% March 1948-50</td><td>1,115</td><td>838</td><td>680</td><td>515</td><td>165</td><td>158</td><td>146</td><td>12</td><td>125</td><td>152</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>809</td><td>708</td><td>596</td><td>112</td><td>101</td><td>85</td><td>17</td><td>128</td><td>77</td></tr><tr><td>2% September 1949-51</td><td>1,292</td><td>1,066</td><td>999</td><td>838</td><td>161</td><td>66</td><td>48</td><td>19</td><td>51</td><td>176</td></tr><tr><td>2% December 1949-51</td><td>2,098</td><td>1,550</td><td>1,409</td><td>1,239</td><td>170</td><td>141</td><td>117</td><td>25</td><td>128</td><td>420</td></tr><tr><td>2% March 1950-52</td><td>1,963</td><td>1,394</td><td>1,271</td><td>1,132</td><td>139</td><td>123</td><td>110</td><td>13</td><td>138</td><td>431</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>335</td><td>321</td><td>283</td><td>38</td><td>14</td><td>6</td><td>8</td><td>79</td><td>96</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>677</td><td>536</td><td>224</td><td>313</td><td>140</td><td>130</td><td>10</td><td>136</td><td>210</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,148</td><td>929</td><td>557</td><td>372</td><td>219</td><td>192</td><td>27</td><td>118</td><td>236</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,022</td><td>626</td><td>242</td><td>384</td><td>395</td><td>371</td><td>24</td><td>140</td><td>287</td></tr><tr><td>2-1/2% June 1962-67</td><td>2,118</td><td>1,522</td><td>196</td><td>-</td><td>196</td><td>1,326</td><td>1,236</td><td>91</td><td>181</td><td>415</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,648</td><td>1,011</td><td>655</td><td>357</td><td>637</td><td>571</td><td>65</td><td>353</td><td>715</td></tr><tr><td>Total Treasury bonds</td><td>16,800</td><td>12,008</td><td>8,587</td><td>6,280</td><td>2,406</td><td>3,322</td><td>3,012</td><td>310</td><td>1,577</td><td>3,214</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><td></td></tr><tr><td>Commodity Credit Corporation 1-1/8% February 1945</td><td>412</td><td>335</td><td>302</td><td>288</td><td>14</td><td>33</td><td>25</td><td>8</td><td>31</td><td>46</td></tr><tr><td>Reconstruction Finance Corporation 1-1/8% July 1943</td><td>324</td><td>281</td><td>265</td><td>257</td><td>8</td><td>16</td><td>5</td><td>11</td><td>*</td><td>44</td></tr><tr><td>1% April 1944</td><td>571</td><td>456</td><td>442</td><td>427</td><td>14</td><td>15</td><td>7</td><td>8</td><td>55</td><td>60</td></tr><tr><td>Total guaranteed issues</td><td>1,307</td><td>1,072</td><td>1,008</td><td>973</td><td>35</td><td>64</td><td>37</td><td>27</td><td>86</td><td>150</td></tr><tr><td>Total subject to Federal income taxes</td><td>36,045</td><td>25,720</td><td>21,762</td><td>19,044</td><td>2,718</td><td>3,958</td><td>3,411</td><td>517</td><td>3,713</td><td>6,612</td></tr><tr><td>IV. Grand total</td><td>69,204</td><td>46,910</td><td>37,283</td><td>33,084</td><td>4,199</td><td>9,626</td><td>7,869</td><td>1,757</td><td>7,660</td><td>14,634</td></tr></table>
(Continued on following page)
48
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, October 31, 1942 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART B - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total 7,007 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="3">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>Total</th><th>6,250 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>757 insurance companies</th><th>199 life insurance companies</th><th>558 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><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><td></td></tr><tr><td>1-3/4% December 1942</td><td>100.0</td><td>48.6</td><td>43.0</td><td>38.7</td><td>4.3</td><td>5.6</td><td>1.4</td><td>4.2</td><td>13.3</td><td>38.0</td></tr><tr><td>1-1/8% June 1943</td><td>100.0</td><td>31.3</td><td>29.0</td><td>27.5</td><td>1.4</td><td>2.4</td><td>.4</td><td>1.9</td><td>18.5</td><td>50.2</td></tr><tr><td>1% September 1943</td><td>100.0</td><td>48.0</td><td>45.9</td><td>45.0</td><td>.9</td><td>2.2</td><td>1.1</td><td>1.1</td><td>11.8</td><td>40.2</td></tr><tr><td>1-1/8% December 1943</td><td>100.0</td><td>31.8</td><td>28.2</td><td>23.2</td><td>1.1</td><td>7.6</td><td>6.2</td><td>1.4</td><td>12.1</td><td>56.1</td></tr><tr><td>1% March 1944</td><td>100.0</td><td>49.9</td><td>48.2</td><td>47.6</td><td>.6</td><td>1.6</td><td>.4</td><td>1.2</td><td>20.8</td><td>29.3</td></tr><tr><td>3/4% June 1944</td><td>100.0</td><td>52.3</td><td>50.6</td><td>50.1</td><td>.5</td><td>1.3</td><td>.6</td><td>1.2</td><td>17.3</td><td>30.3</td></tr><tr><td>1% September 1944</td><td>100.0</td><td>15.9</td><td>15.5</td><td>15.0</td><td>.5</td><td>.3</td><td>*</td><td>.3</td><td>20.9</td><td>63.3</td></tr><tr><td>3/4% March 1945</td><td>100.0</td><td>47.2</td><td>42.9</td><td>42.6</td><td>.3</td><td>4.3</td><td>2.6</td><td>1.6</td><td>12.1</td><td>40.7</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>41.1</td><td>37.9</td><td>36.9</td><td>1.0</td><td>3.2</td><td>1.7</td><td>1.6</td><td>15.9</td><td>43.0</td></tr><tr><td>Bond</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>9.8</td><td>9.3</td><td>9.1</td><td>.2</td><td>.5</td><td>.1</td><td>.4</td><td>28.3</td><td>62.0</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.3</td><td>1.0</td><td>1.0</td><td>-</td><td>.3</td><td>.2</td><td>.1</td><td>-</td><td>98.7</td></tr><tr><td>Conversion</td><td>100.0</td><td>.3</td><td>.2</td><td>.2</td><td>-</td><td>.1</td><td>-</td><td>.1</td><td>-</td><td>99.7</td></tr><tr><td>Total bonds</td><td>100.0</td><td>6.2</td><td>5.8</td><td>5.7</td><td>.1</td><td>.4</td><td>.1</td><td>.3</td><td>16.9</td><td>76.9</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>39.3</td><td>36.2</td><td>35.2</td><td>.9</td><td>3.1</td><td>1.6</td><td>1.5</td><td>16.0</td><td>44.8</td></tr><tr><td>II. Partially exempt from Federal income taxes 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>100.0</td><td>59.2</td><td>44.9</td><td>34.5</td><td>10.5</td><td>14.3</td><td>10.7</td><td>3.5</td><td>10.1</td><td>30.7</td></tr><tr><td>3-1/4% October 1943-45</td><td>100.0</td><td>54.9</td><td>43.0</td><td>38.2</td><td>4.8</td><td>12.0</td><td>8.4</td><td>3.6</td><td>10.4</td><td>34.6</td></tr><tr><td>3-1/4% April 1944-46</td><td>100.0</td><td>59.2</td><td>43.6</td><td>39.2</td><td>4.4</td><td>15.6</td><td>11.9</td><td>3.7</td><td>10.8</td><td>30.0</td></tr><tr><td>4% December 1944-54</td><td>100.0</td><td>62.2</td><td>47.6</td><td>41.6</td><td>6.0</td><td>14.6</td><td>10.9</td><td>3.8</td><td>10.1</td><td>27.7</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>64.1</td><td>46.9</td><td>42.0</td><td>4.9</td><td>17.2</td><td>13.8</td><td>3.4</td><td>11.6</td><td>24.2</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>77.5</td><td>60.5</td><td>56.2</td><td>4.3</td><td>17.0</td><td>10.9</td><td>6.1</td><td>5.6</td><td>16.9</td></tr><tr><td>3-3/4% March 1946-56</td><td>100.0</td><td>65.7</td><td>44.4</td><td>38.5</td><td>5.8</td><td>21.3</td><td>18.8</td><td>2.6</td><td>12.7</td><td>21.6</td></tr><tr><td>3% June 1946-48</td><td>100.0</td><td>63.2</td><td>45.3</td><td>39.2</td><td>6.1</td><td>17.9</td><td>15.0</td><td>2.9</td><td>18.4</td><td>18.4</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>60.2</td><td>42.9</td><td>36.2</td><td>6.7</td><td>17.3</td><td>14.2</td><td>3.1</td><td>9.3</td><td>30.5</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>54.8</td><td>36.7</td><td>29.2</td><td>7.5</td><td>18.0</td><td>10.5</td><td>7.6</td><td>11.1</td><td>34.2</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>85.3</td><td>74.5</td><td>72.1</td><td>2.5</td><td>10.8</td><td>7.0</td><td>3.8</td><td>1.7</td><td>13.0</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>77.8</td><td>58.0</td><td>52.2</td><td>5.9</td><td>19.7</td><td>16.6</td><td>3.1</td><td>11.9</td><td>10.4</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>82.1</td><td>64.8</td><td>62.3</td><td>2.5</td><td>17.3</td><td>14.3</td><td>3.0</td><td>5.9</td><td>12.0</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>82.5</td><td>71.7</td><td>70.7</td><td>1.0</td><td>10.8</td><td>6.9</td><td>3.9</td><td>8.9</td><td>8.5</td></tr><tr><td>3-1/3% December 1949-52</td><td>100.0</td><td>82.2</td><td>53.4</td><td>43.5</td><td>9.9</td><td>28.8</td><td>21.0</td><td>7.8</td><td>8.1</td><td>9.7</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>70.3</td><td>56.0</td><td>50.7</td><td>5.3</td><td>14.4</td><td>11.2</td><td>3.2</td><td>14.7</td><td>15.0</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>78.1</td><td>61.2</td><td>54.3</td><td>6.9</td><td>16.8</td><td>12.6</td><td>4.2</td><td>10.8</td><td>11.1</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>74.0</td><td>47.6</td><td>39.6</td><td>8.1</td><td>26.3</td><td>22.4</td><td>4.0</td><td>11.7</td><td>14.4</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>42.9</td><td>30.2</td><td>22.2</td><td>8.1</td><td>12.6</td><td>9.5</td><td>3.1</td><td>14.6</td><td>42.5</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>73.5</td><td>67.2</td><td>64.5</td><td>2.8</td><td>6.3</td><td>4.3</td><td>2.0</td><td>14.3</td><td>12.2</td></tr><tr><td>2% June 1953-55</td><td>100.0</td><td>86.3</td><td>81.9</td><td>80.3</td><td>1.5</td><td>4.4</td><td>1.6</td><td>2.8</td><td>5.2</td><td>8.5</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>79.1</td><td>58.6</td><td>57.0</td><td>1.7</td><td>20.4</td><td>15.4</td><td>5.0</td><td>7.4</td><td>13.5</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>44.8</td><td>22.6</td><td>17.8</td><td>4.8</td><td>22.2</td><td>18.0</td><td>4.2</td><td>17.5</td><td>37.8</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>62.8</td><td>35.1</td><td>30.4</td><td>4.7</td><td>27.7</td><td>21.6</td><td>6.1</td><td>18.1</td><td>19.1</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>76.1</td><td>28.0</td><td>23.4</td><td>4.6</td><td>48.1</td><td>38.6</td><td>9.4</td><td>11.1</td><td>12.7</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>71.7</td><td>26.8</td><td>24.3</td><td>2.6</td><td>44.9</td><td>36.5</td><td>8.4</td><td>8.6</td><td>19.6</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>66.6</td><td>46.8</td><td>41.7</td><td>5.1</td><td>19.8</td><td>15.5</td><td>4.3</td><td>11.7</td><td>21.7</td></tr></table>
(Continued on following page)
49
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, October 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="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 7,007 institutions</th><th>Total</th><th>6,250 commercial banks</th><th>490 mutual savings banks</th><th>757 insurance companies</th><th>199 life insurance companies</th><th>558 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><td></td></tr><tr><td>Commodity Credit Corporation 3/4% May 1943</td><td>100.0</td><td>83.8</td><td>81.2</td><td>80.6</td><td>.6</td><td>2.5</td><td>1.4</td><td>1.1</td><td>-</td><td>16.2</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1944-64 3% May 1944-49</td><td>100.0</td><td>68.6</td><td>38.3</td><td>25.4</td><td>13.0</td><td>30.2</td><td>28.7</td><td>1.5</td><td>2.3</td><td>29.2</td></tr><tr><td>25.4</td><td>100.0</td><td>64.0</td><td>50.4</td><td>47.6</td><td>2.8</td><td>13.5</td><td>12.3</td><td>1.3</td><td>10.7</td><td>25.4</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>93.3</td><td>36.2</td><td>33.3</td><td>3.0</td><td>57.0</td><td>56.7</td><td>.4</td><td>5.5</td><td>1.2</td></tr><tr><td>Home Owners' Loan Corporation 3% May 1944-52 1-1/2% June 1945-47</td><td>100.0</td><td>50.0</td><td>40.5</td><td>35.6</td><td>4.8</td><td>9.5</td><td>8.6</td><td>.9</td><td>17.9</td><td>32.1</td></tr><tr><td>United States Housing Authority 1-3/8% February 1944</td><td>100.0</td><td>84.2</td><td>81.3</td><td>79.7</td><td>1.5</td><td>2.9</td><td>1.4</td><td>1.6</td><td>.4</td><td>15.4</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>70.5</td><td>60.6</td><td>57.6</td><td>3.0</td><td>9.9</td><td>8.7</td><td>1.1</td><td>3.1</td><td>21.4</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>67.0</td><td>48.1</td><td>43.2</td><td>4.9</td><td>18.8</td><td>14.8</td><td>4.0</td><td>11.4</td><td>21.6</td></tr><tr><td colspan="11">III. Subject to Federal income taxes</td></tr><tr><td>Treasury bills</td><td>100.0</td><td>70.5</td><td>68.0</td><td>67.7</td><td>.3</td><td>2.5</td><td>2.1</td><td>.4</td><td>9.4</td><td>20.1</td></tr><tr><td>Certificates of indebtedness 1/2% November 1942 5/8% February 1943 .65% May 1943 7/8% August 1943</td><td>100.0</td><td>53.3</td><td>45.2</td><td>43.0</td><td>2.2</td><td>8.1</td><td>6.1</td><td>2.0</td><td>19.7</td><td>27.0</td></tr><tr><td></td><td>100.0</td><td>64.9</td><td>61.8</td><td>60.6</td><td>1.1</td><td>3.2</td><td>1.7</td><td>1.4</td><td>14.6</td><td>20.5</td></tr><tr><td></td><td>100.0</td><td>73.7</td><td>70.8</td><td>69.9</td><td>1.0</td><td>2.9</td><td>2.0</td><td>.9</td><td>8.0</td><td>18.2</td></tr><tr><td>Total certificates of indebtedness</td><td>100.0</td><td>66.6</td><td>62.3</td><td>60.9</td><td>1.1</td><td>4.3</td><td>2.9</td><td>1.4</td><td>12.1</td><td>21.4</td></tr><tr><td>Treasury notes 3/4% March 1943 3/4% September 1944 1-1/4% March 1945 3/4% December 1945 1% March 1946 1-1/2% December 1946</td><td>100.0</td><td>20.8</td><td>20.3</td><td>17.8</td><td>2.5</td><td>.5</td><td>.2</td><td>.3</td><td>59.5</td><td>19.6</td></tr><tr><td></td><td>100.0</td><td>80.7</td><td>75.8</td><td>72.5</td><td>3.3</td><td>4.8</td><td>3.3</td><td>1.5</td><td>2.4</td><td>16.9</td></tr><tr><td></td><td>100.0</td><td>69.6</td><td>67.5</td><td>64.9</td><td>2.6</td><td>2.1</td><td>1.2</td><td>.9</td><td>14.3</td><td>16.1</td></tr><tr><td></td><td>100.0</td><td>83.9</td><td>78.3</td><td>75.0</td><td>3.3</td><td>5.6</td><td>3.8</td><td>1.8</td><td>3.2</td><td>12.9</td></tr><tr><td></td><td>100.0</td><td>80.0</td><td>73.0</td><td>70.2</td><td>2.9</td><td>7.0</td><td>4.8</td><td>2.2</td><td>3.2</td><td>16.7</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>73.6</td><td>72.0</td><td>69.8</td><td>2.2</td><td>1.6</td><td>.8</td><td>.8</td><td>15.4</td><td>11.0</td></tr><tr><td>Treasury bonds 2% March 1948-50 2% June 1949-51 2% September 1949-51 2% December 1949-51 2% March 1950-52 2% December 1951-55 2-1/2% March 1952-54 2-1/4% June 1952-55 2-1/2% March 1956-58 2-1/2% June 1962-67 2-1/2% September 1967-72</td><td>100.0</td><td>75.2</td><td>61.0</td><td>46.2</td><td>14.8</td><td>14.2</td><td>13.1</td><td>1.1</td><td>11.2</td><td>13.6</td></tr><tr><td></td><td>100.0</td><td>79.8</td><td>69.8</td><td>58.8</td><td>11.1</td><td>10.0</td><td>8.3</td><td>1.6</td><td>12.6</td><td>7.6</td></tr><tr><td></td><td>100.0</td><td>82.5</td><td>77.3</td><td>64.8</td><td>12.5</td><td>5.1</td><td>3.7</td><td>1.4</td><td>3.9</td><td>13.6</td></tr><tr><td></td><td>100.0</td><td>73.9</td><td>67.2</td><td>59.1</td><td>8.1</td><td>6.7</td><td>5.6</td><td>1.2</td><td>6.1</td><td>20.0</td></tr><tr><td></td><td>100.0</td><td>71.0</td><td>64.8</td><td>57.7</td><td>7.1</td><td>6.3</td><td>5.6</td><td>.6</td><td>7.0</td><td>21.9</td></tr><tr><td></td><td>100.0</td><td>65.6</td><td>62.8</td><td>55.4</td><td>7.5</td><td>2.7</td><td>1.1</td><td>1.6</td><td>15.6</td><td>18.8</td></tr><tr><td></td><td>100.0</td><td>66.1</td><td>52.4</td><td>21.9</td><td>30.5</td><td>13.7</td><td>12.7</td><td>1.0</td><td>13.3</td><td>20.6</td></tr><tr><td></td><td>100.0</td><td>76.5</td><td>61.9</td><td>37.1</td><td>24.8</td><td>14.6</td><td>12.8</td><td>1.8</td><td>7.8</td><td>15.7</td></tr><tr><td></td><td>100.0</td><td>70.5</td><td>43.2</td><td>16.7</td><td>26.5</td><td>27.3</td><td>25.6</td><td>1.7</td><td>9.7</td><td>19.8</td></tr><tr><td></td><td>100.0</td><td>71.8</td><td>9.2</td><td>24.1</td><td>9.2</td><td>52.6</td><td>58.3</td><td>4.1</td><td>8.5</td><td>19.6</td></tr><tr><td></td><td>100.0</td><td>60.7</td><td>37.2</td><td>24.1</td><td>13.1</td><td>23.4</td><td>21.0</td><td>2.4</td><td>13.0</td><td>26.3</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>71.5</td><td>51.7</td><td>37.4</td><td>14.3</td><td>19.8</td><td>17.9</td><td>1.8</td><td>9.4</td><td>19.1</td></tr><tr><td>Guaranteed issues 5/ Commodity Credit Corporation 1-1/8% February 1945 Reconstruction Finance Corporation 1-1/8% July 1943 1% April 1944</td><td>100.0</td><td>81.5</td><td>73.3</td><td>70.1</td><td>3.3</td><td>8.1</td><td>6.1</td><td>2.0</td><td>7.5</td><td>11.1</td></tr><tr><td></td><td>100.0</td><td>86.5</td><td>81.6</td><td>79.2</td><td>2.4</td><td>4.9</td><td>1.7</td><td>3.2</td><td>-</td><td>13.5</td></tr><tr><td></td><td>100.0</td><td>79.8</td><td>77.3</td><td>74.8</td><td>2.5</td><td>2.6</td><td>1.2</td><td>1.4</td><td>9.6</td><td>10.5</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>82.0</td><td>77.1</td><td>74.4</td><td>2.7</td><td>4.9</td><td>2.8</td><td>2.0</td><td>6.6</td><td>11.5</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>71.4</td><td>60.4</td><td>52.8</td><td>7.5</td><td>11.0</td><td>9.5</td><td>1.4</td><td>10.3</td><td>18.3</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>67.8</td><td>53.9</td><td>47.8</td><td>6.1</td><td>13.9</td><td>11.4</td><td>2.5</td><td>11.1</td><td>21.1</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 interest-bearing securities include all interest-bearing securities outstanding except (1) special issues to Government agencies and trust funds, (2) adjusted Service bonds, (3) depositary bonds, (4) United States savings bonds, (5) tax series notes and (6) Commodity Credit Corporation demand obligations. Such obligations were held by institutions reporting, as follows: (1) depository bonds; commercial banks, $36 millions; (2) United States savings bonds; commercial banks, $180 millions; mutual savings banks, $63 millions; insurance companies, $91 millions; all insti-
tutioce, $374; millions; (3) tax series notes; commercial banks, $52 millions; mutual savings banks, $4 millions; insurance companies, $24 millions; all institutions, $50 millions; (4) Commodity Credit Corporation demand obligations; holdings of these obligations are not reported.
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. (In the case of partially tax-exempt Treasury bonds, interest derived from $5,00 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)
— 50 —
51
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
November 30, 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="3">Price data (Decimals are thirty-seconde)</th><th colspan="3">Yield data</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Decimals are thirty-seconde)</th><th colspan="4">1942 price range 2/ (Decimals are thirty-seconde)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Oct.31. 1942</th><th>Yield 2/</th><th>Change in yield from Oct.31 1942</th><th>Maturity yield</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 colspan="16"><b>Treasury bonds</b></td></tr><tr><td>$454</td><td>3-3/8 6/15/43-47</td><td>101.18</td><td>101.19</td><td>101.18</td><td>-.08</td><td>.46%</td><td>+0.03%</td><td>3.00%</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>101.18</td><td>11/30</td></tr><tr><td>1.401</td><td>3-1/4 -10/15/43-45</td><td>102.09</td><td>102.10</td><td>102.10</td><td>-.06</td><td>.58</td><td>-.03</td><td>2.41</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>102.10</td><td>11/30</td></tr><tr><td>1.519</td><td>3-1/4 - 4/15/44-46</td><td>103.14</td><td>103.15</td><td>103.14</td><td>-.06</td><td>.73</td><td>.00</td><td>2.19</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>103.14</td><td>11/30</td></tr><tr><td>1.037</td><td>4 -12/15/44-54</td><td>106.09</td><td>106.11</td><td>106.10</td><td>-.06</td><td>.87</td><td>-.02</td><td>3.36</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>106.10</td><td>11/30</td></tr><tr><td>1.214</td><td>2-3/4 - 9/15/45-47</td><td>104.28</td><td>104.30</td><td>104.29</td><td>-.03</td><td>.96</td><td>-.02</td><td>1.68</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>104.29</td><td>11/30</td></tr><tr><td>541</td><td>2-1/2 -12/15/45</td><td>104.15</td><td>104.17</td><td>104.16</td><td>-.03</td><td>.99</td><td>-.01</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>3/25</td><td>104.16</td><td>11/30</td></tr><tr><td>489</td><td>3-3/4 - 3/15/46-56</td><td>108.19</td><td>108.21</td><td>108.20</td><td>-.07</td><td>1.07</td><td>.00</td><td>2.96</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>108.20</td><td>11/30</td></tr><tr><td>1.036</td><td>3 - 6/15/46-48</td><td>106.20</td><td>106.22</td><td>106.21</td><td>-.05</td><td>1.08</td><td>+0.01</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>106.21</td><td>11/30</td></tr><tr><td>819</td><td>3-1/8 - 6/15/46-49</td><td>107.00</td><td>107.02</td><td>107.01</td><td>-.05</td><td>1.09</td><td>.00</td><td>1.97</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>107.01</td><td>11/30</td></tr><tr><td>759</td><td>4-1/4 -10/15/47-52</td><td>114.07</td><td>114.09</td><td>114.08</td><td>-.08</td><td>1.23</td><td>+0.01</td><td>2.60</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>114.08</td><td>11/30</td></tr><tr><td>701</td><td>2 -12/15/47</td><td>103.25</td><td>103.28</td><td>103.27</td><td>-.10</td><td>1.21</td><td>+0.05</td><td>1.21</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>103.27</td><td>11/30</td></tr><tr><td>1.115</td><td>T 2 - 3/15/48-50</td><td>101.06</td><td>101.08</td><td>101.07</td><td>+.02</td><td>1.76</td><td>-.01</td><td>1.82</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>107.06</td><td>107.08</td><td>107.07</td><td>-.08</td><td>1.33</td><td>+0.03</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>106.19</td><td>106.21</td><td>106.20</td><td>-.10</td><td>1.31</td><td>+0.04</td><td>1.31</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>103.25</td><td>103.27</td><td>103.26</td><td>-.11</td><td>1.34</td><td>+0.05</td><td>1.50</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>T 2 - 6/15/49-51</td><td>100.12</td><td>100.14</td><td>100.13</td><td>+.02</td><td>1.93</td><td>-.01</td><td>1.95</td><td>1/15/42</td><td>101.11</td><td>4/15/42</td><td>100.06</td><td>8/5/42</td><td>101.11</td><td>4/15</td><td>100.06</td><td>8/5</td></tr><tr><td>1.292</td><td>T 2 - 9/15/49-51</td><td>100.09</td><td>100.11</td><td>100.10</td><td>+.03</td><td>1.95</td><td>-.02</td><td>1.96</td><td>5/15/42</td><td>100.24</td><td>6/20/42</td><td>100.04</td><td>10/6/42</td><td>100.24</td><td>6/20</td><td>100.04</td><td>10/6</td></tr><tr><td>2.098</td><td>T 2 -12/15/49-51</td><td>100.06</td><td>100.08</td><td>100.07</td><td>+.02</td><td>1.97</td><td>-.01</td><td>1.97</td><td>7/15/42</td><td>100.08</td><td>9/19/42</td><td>100.03</td><td>8/5/42</td><td>100.08</td><td>9/19</td><td>100.03</td><td>8/5</td></tr><tr><td>491</td><td>3-1/8 -12/15/49-52</td><td>110.10</td><td>110.12</td><td>110.11</td><td>-.07</td><td>1.57</td><td>+0.02</td><td>1.98</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>105.29</td><td>105.31</td><td>105.30</td><td>-.06</td><td>1.60</td><td>+0.01</td><td>1.90</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>1.963</td><td>T 2 - 3/15/50-52</td><td>100.03</td><td>100.05</td><td>100.04</td><td>+.03</td><td>1.98</td><td>-.02</td><td>1.99</td><td>10/19/42</td><td>100.04</td><td>11/30/42</td><td>100.01</td><td>11/2/42</td><td>100.04</td><td>11/30</td><td>100.01</td><td>11/2</td></tr><tr><td>1.186</td><td>2-1/2 - 9/15/50-52</td><td>106.09</td><td>106.11</td><td>106.10</td><td>-.05</td><td>1.63</td><td>+0.01</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>107.03</td><td>6/15</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>107.29</td><td>107.31</td><td>107.30</td><td>-.06</td><td>1.75</td><td>+0.02</td><td>1.98</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>109.00</td><td>5/25</td><td>106.28</td><td>2/18</td></tr><tr><td>755</td><td>3 - 9/15/51-55</td><td>110.00</td><td>110.02</td><td>110.01</td><td>-.08</td><td>1.76</td><td>+0.02</td><td>2.10</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>111.01</td><td>5/25</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>104.16</td><td>104.18</td><td>104.17</td><td>-.11</td><td>1.71</td><td>+0.04</td><td>1.80</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>105.18</td><td>5/25</td><td>103.10</td><td>2/18</td></tr><tr><td>510</td><td>T 2 -12/15/51-55</td><td>100.00</td><td>100.02</td><td>100.01</td><td>.00</td><td>2.00</td><td>.00</td><td>2.00</td><td>12/15/41</td><td>101.16</td><td>12/5/41</td><td>100.01</td><td>11/30/42</td><td>100.28</td><td>1/28</td><td>100.01</td><td>11/30</td></tr><tr><td>1.024</td><td>T 2-1/2 - 3/15/52-54</td><td>103.12</td><td>103.14</td><td>103.13</td><td>-.11</td><td>2.09</td><td>+0.03</td><td>2.16</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>T 2-1/4 - 6/15/52-55</td><td>101.03</td><td>101.05</td><td>101.04</td><td>-.04</td><td>2.12</td><td>+0.01</td><td>2.15</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>103.02</td><td>103.04</td><td>103.03</td><td>-.11</td><td>1.68</td><td>+0.03</td><td>1.73</td><td>10/17/40</td><td>105.14</td><td>11/22/41</td><td>101.19</td><td>2/15/41</td><td>104.04</td><td>5/29</td><td>102.00</td><td>2/18</td></tr><tr><td>681</td><td>2-1/4 - 6/15/54-56</td><td>104.23</td><td>104.25</td><td>104.24</td><td>-.16</td><td>1.79</td><td>+0.04</td><td>1.85</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>105.20</td><td>6/17</td><td>103.10</td><td>2/18</td></tr><tr><td>2.611</td><td>2-7/8 - 3/15/55-60 1/4</td><td>109.01</td><td>109.03</td><td>109.02</td><td>-.16</td><td>2.04</td><td>+0.04</td><td>2.24</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>110.19</td><td>6/17</td><td>108.00</td><td>2/18</td></tr><tr><td>1.449</td><td>T 2-1/2 - 3/15/56-58 5/8</td><td>102.23</td><td>102.25</td><td>102.24</td><td>-.17</td><td>2.26</td><td>+0.04</td><td>2.29</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 3/4</td><td>108.08</td><td>108.10</td><td>108.09</td><td>-.19</td><td>2.06</td><td>+0.05</td><td>2.16</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>109.30</td><td>6/9</td><td>107.12</td><td>2/18</td></tr><tr><td>919</td><td>2-3/4 - 6/15/58-63 3/4</td><td>108.11</td><td>108.13</td><td>108.12</td><td>-.21</td><td>2.11</td><td>+0.04</td><td>2.24</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>110.05</td><td>6/3</td><td>107.15</td><td>2/18</td></tr><tr><td>1.485</td><td>2-3/4 -12/15/60-65 3/4</td><td>108.30</td><td>109.00</td><td>108.31</td><td>-.19</td><td>2.15</td><td>+0.04</td><td>2.25</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>110.19</td><td>6/17</td><td>108.04</td><td>2/18</td></tr><tr><td>2.118</td><td>T 2-1/2 - 6/15/62-67 6/8</td><td>100.00</td><td>100.06</td><td>100.03</td><td>-.10</td><td>2.49</td><td>+0.02</td><td>2.49</td><td>5/5/42</td><td>100.22</td><td>10/22/42</td><td>100.00</td><td>8/17/42</td><td>100.22</td><td>10/22</td><td>100.00</td><td>8/17</td></tr><tr><td>2.716</td><td>T 2-1/2 - 9/15/67-72 5/8</td><td>100.14</td><td>100.16</td><td>100.15</td><td>-.18</td><td>2.47</td><td>+0.03</td><td>2.48</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="16"><b>Other bonds</b></td></tr><tr><td>16</td><td>3 3/4 Conversion-1/1/46</td><td>107.08</td><td>107.24</td><td>107.16</td><td>-.02</td><td>.55</td><td>-.04</td><td>.55</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>107.16</td><td>11/30</td></tr><tr><td>13</td><td>3 Conversion-1/1/47</td><td>109.00</td><td>109.16</td><td>109.08</td><td>-.02</td><td>.70</td><td>-.03</td><td>.70</td><td>1/1/17</td><td>110.14</td><td>2/11</td><td>109.08</td><td>11/30</td></tr><tr><td>50</td><td>3 Panama -6/1/61</td><td>127.00</td><td>128.28</td><td>127.30</td><td>.00</td><td>1.30</td><td>-.01</td><td>1.30</td><td>6/1/11</td><td>128.16</td><td>4/28/42</td><td>75.00</td><td>5/18/21</td><td>128.16</td><td>4/28</td><td>124.08</td><td>1/15</td></tr></table>
T Taxable issues. 1/ Exclude postal saving bonds. 2/ 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 October 1, 1939 represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning October 1, 1939. 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/ Included in long-term average of partially tax-exempt Treasury bonds shown later in this chapter.
5/ Included in long-term average of taxable Treasury bonds shown later in this chapter.
6/ Security is not transferable to commercial banks before May 5, 1952.
52
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies November 30, 1942 - (Continued)
Table I.- Securities Issued by the United States Government - (Continued)
PART B - TREASURY NOTES
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th colspan="4">Price data (Decimals are thirty-eccendes)</th><th>Yield data</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 1/ (Decimals are thirty-eccende)</th><th colspan="4">1942 price range 1/ (Decimals are thirty-eccende)</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Oct.31, 1942</th><th>Yield</th><th>Change to yield from Oct.31, 1942</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>$ 232 66 T</td><td>1-3/4% C - 12/15/42 3/4 D - 3/15/43</td><td>100.01</td><td>100.03</td><td>100.02</td><td>-.03</td><td>.12%</td><td>12/15/37</td><td>105.03</td><td>6/24/39</td><td>100.02</td><td>11/30/42</td><td>101.24</td><td>1/28</td><td>100.02</td><td>11/30</td></tr><tr><td>629</td><td>1-1/8 A - 6/15/43</td><td>100.12</td><td>100.14</td><td>100.13</td><td>-.02</td><td>.37</td><td>6/15/38</td><td>101.00</td><td>4/3/40</td><td>99.04</td><td>9/6/39</td><td>101.13</td><td>1/28</td><td>100.13</td><td>11/30</td></tr><tr><td>279</td><td>1 C - 9/15/43</td><td>100.16</td><td>100.18</td><td>100.17</td><td>-.02</td><td>.32</td><td>6/15/40</td><td>102.15</td><td>11/8/40</td><td>100.17</td><td>11/30/42</td><td>101.12</td><td>1/28</td><td>100.17</td><td>11/30</td></tr><tr><td>421</td><td>1-1/8 B - 12/15/43</td><td>100.27</td><td>100.29</td><td>100.28</td><td>-.01</td><td>.28</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>100.27</td><td>8/12</td></tr><tr><td>515</td><td>1 B - 3/15/44</td><td>100.23</td><td>100.25</td><td>100.24</td><td>+.01</td><td>.42</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>100.23</td><td>11/23</td></tr><tr><td>416</td><td>3/4 A - 6/15/44</td><td>100.12</td><td>100.14</td><td>100.13</td><td>.00</td><td>.48</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>100.12</td><td>8/24</td></tr><tr><td>283</td><td>1 C - 9/15/44</td><td>100.29</td><td>100.31</td><td>100.30</td><td>.00</td><td>.47</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>100.29</td><td>11/16</td></tr><tr><td>635 T</td><td>3/4 D - 9/15/44</td><td>99.20</td><td>99.22</td><td>99.21</td><td>.00</td><td>.94</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>99.15</td><td>8/24</td></tr><tr><td>718</td><td>3/4 A - 3/15/45</td><td>100.14</td><td>100.16</td><td>100.15</td><td>+.02</td><td>.54</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>100.12</td><td>11/18</td></tr><tr><td>1,606 T</td><td>1-1/4 C - 3/15/45</td><td>100.01</td><td>100.03</td><td>100.02</td><td>+.01</td><td>1.22</td><td>9/25/42</td><td>100.03</td><td>11/18/42</td><td>100.00</td><td>10/30/42</td><td>100.03</td><td>11/18</td><td>100.00</td><td>10/30</td></tr><tr><td>531 T</td><td>3/4 B - 12/15/45</td><td>99.00</td><td>99.02</td><td>99.01</td><td>+.03</td><td>1.08</td><td>12/18/40</td><td>100.18</td><td>9/9/41</td><td>98.28</td><td>10/6/42</td><td>99.28</td><td>1/28</td><td>98.28</td><td>10/6</td></tr><tr><td>503 T</td><td>1 A - 3/15/46</td><td>99.03</td><td>99.05</td><td>99.04</td><td>-.01</td><td>1.27</td><td>11/1/41</td><td>100.18</td><td>10/25/41</td><td>99.02</td><td>10/6/42</td><td>100.00</td><td>1/28</td><td>99.02</td><td>10/6</td></tr><tr><td>3,261 T</td><td>1-1/2 B - 12/15/46</td><td>100.00</td><td>100.02</td><td>100.01</td><td>.00</td><td>1.49</td><td>6/5/42</td><td>100.15</td><td>5/29/42</td><td>100.01</td><td>11/30/42</td><td>100.15</td><td>5/29</td><td>100.01</td><td>11/30</td></tr></table>
PART C - CERTIFICATES OF INDEBTEDNESS AND TREASURY BILLS
<table><tr><th>Amount outstanding (Millions)</th><th>Description (Issue dates in parentheses)</th><th colspan="4">Yield or discount 2/</th><th>Amount outstanding (Millions)</th><th>Description (Issue dates in parentheses)</th><th colspan="4">Yield or discount 2/</th></tr><tr><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Oct. 31, 1942</th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Oct. 31, 1942</th></tr><tr><td colspan="6">Certificates of indebtedness</td><td colspan="6">Treasury bills (continued)</td></tr><tr><td>$1.588</td><td>T 5/8% A - 2/1/43 (5/25/42)</td><td>.40%</td><td>.35%</td><td>.38%</td><td>-.02%</td><td>$401</td><td>T 12/30/42 ( 9/30/42)</td><td>.36%</td><td>.25%</td><td>.30%</td><td>-.04%</td></tr><tr><td>1.506</td><td>T .65 C - 5/1/43 (9/21/42)</td><td>.55</td><td>.53</td><td>.54</td><td>-.07</td><td>400</td><td>T 1/6/43 ( 10/7/42)</td><td>.36</td><td>.28</td><td>.32</td><td>-.04</td></tr><tr><td>1.609</td><td>T 7/8 B - 8/1/43 (8/15/42)</td><td>.69</td><td>.67</td><td>.68</td><td>-.04</td><td>400</td><td>T 1/13/43 (10/14/42)</td><td>.36</td><td>.28</td><td>.32</td><td>-.04</td></tr><tr><td>2.035</td><td>T 7/8 D - 11/1/43 (11/2/42)</td><td>.80</td><td>.78</td><td>.79</td><td>-.03</td><td>505</td><td>T 1/20/43 (10/21/42)</td><td>.36</td><td>.28</td><td>.32</td><td>-.04</td></tr><tr><td colspan="6">Treasury bills</td><td>505</td><td>T 1/27/43 (10/28/42)</td><td>.36</td><td>.28</td><td>.32</td><td>-.05</td></tr><tr><td>351</td><td>T 12/2/42 ( 9/2/42)</td><td>.36</td><td>.25</td><td>.30</td><td>-.04</td><td>500</td><td>T 2/3/43 ( 11/4/42)</td><td>.37</td><td>.34</td><td>.36</td><td>-.01</td></tr><tr><td>351</td><td>T 12/9/42 ( 9/9/42)</td><td>.36</td><td>.25</td><td>.30</td><td>-.04</td><td>501</td><td>T 2/10/43 (11/12/42)</td><td>.37</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>402</td><td>T 12/16/42 (9/16/42)</td><td>.36</td><td>.25</td><td>.30</td><td>-.04</td><td>502</td><td>T 2/17/43 (11/18/42)</td><td>.37</td><td>.34</td><td>.36</td><td>-</td></tr><tr><td>402</td><td>T 12/23/42 (9/23/42)</td><td>.36</td><td>.25</td><td>.30</td><td>-.04</td><td>501</td><td>T 2/24/43 (11/25/42)</td><td>.37</td><td>.34</td><td>.36</td><td>-</td></tr></table>
Table II.- Securities Issued by Federal Agencies and Guaranteed by the United States
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price date (Decimals are thirty-eccconds)</th><th colspan="3">Yield date</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 1/ (Decimals are thirty-eccconde)</th><th colspan="4">1942 price range 1/ (Decimals are thirty-eccconde)</th></tr><tr><th>Bid</th><th>Aek</th><th>Mean</th><th>Change in mean from Oct.31, 1942</th><th>Yield 1/</th><th>Change in yield from Oct.31, 1942</th><th>Matu- rity 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>$289 412</td><td>Commodity Credit Corp. 3/4% F- 5/1/43 T 1-1/8 0-2/15/45</td><td>100.02 99.25</td><td>100.04 99.27</td><td>100.03 99.26</td><td>.00 -.01</td><td>.52% 1.21</td><td>-.04% +.02</td><td>.52% 1.21</td><td>8/1/40 7/21/41</td><td>101.02 101.00</td><td>12/14/40 9/2/41</td><td>100.00 99.25</td><td>12/10/41 12/27/41</td><td>100.18 100.14</td><td>1/28 3/5</td><td>100.03 99.26</td><td>11/30 11/30</td></tr><tr><td>95 835</td><td>Federal Farm MTG. Corp. 3-1/4% - 3/15/44-64 3 - 5/15/44-49</td><td>103.02 103.04</td><td>103.05 103.06</td><td>103.04 103.05</td><td>.00 -.01</td><td>.80 .81</td><td>-.14 -.09</td><td>3.05 2.47</td><td>3/15/34 5/15/34</td><td>110.07 109.22</td><td>6/8/39 6/5/39</td><td>98.02 95.03</td><td>9/18/34 9/12/34</td><td>104.30 104.28</td><td>1/28 1/28</td><td>103.04 103.05</td><td>11/30 11/30</td></tr><tr><td>779 755</td><td>Bone Owners' Loan Corp. 3% A- 5/1/44-52 1-1/2 M- 6/1/45-47</td><td>103.02 101.05</td><td>103.04 101.07</td><td>103.03 101.06</td><td>-.01 .00</td><td>.80 1.02</td><td>-.09 -.01</td><td>2.63 1.23</td><td>5/1/34 6/1/39</td><td>109.18 103.26</td><td>6/6/39 12/13/40</td><td>95.03 96.24</td><td>9/12/34 9/25/39</td><td>104.26 102.01</td><td>1/28 1/28</td><td>103.03 101.06</td><td>11/30 11/30</td></tr><tr><td>324 571</td><td>Reconstruction Finance Corporation T 1-1/8% V- 7/15/43 1 1-1/2 W- 4/15/44</td><td>100.06 100.02</td><td>100.08 100.04</td><td>100.07 100.03</td><td>-.01 +.01</td><td>.77 .93</td><td>.00 -.03</td><td>.77 .93</td><td>4/17/41 7/3/41</td><td>101.05 100.26</td><td>9/10/41 8/5/41</td><td>100.06 99.25</td><td>12/27/41 12/27/41</td><td>100.27 100.15</td><td>1/28 2/25</td><td>100.07 99.30</td><td>11/30 1/2</td></tr><tr><td>114</td><td>U. S. Housing Authority 1-3/8% B- 2/1/44</td><td>100.22</td><td>100.24</td><td>100.23</td><td>+
T 1/ Taxable issues. Prices represent the mean of closing bid and ask quotations in the over-the-counter market, except that prices of Federal Farm Mortgage Corporation and Home Owners' Loan Corporation bonds for the period prior to October 1, 1939 represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning
October 1, 1939. Dates of highs and lows, in case of recurrence, are the latest dates.
2/ Certificates are quoted on a yield basis; bills on a discount basis.
3/ Excludes Federal Housing Administration debentures.
4/ Computed on mean price to call date when prices are above par; to maturity date when prices are below par.
53
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies November 30, 1942 - (Continued)
Table III. - Securities Issued by Federal Agencies but not Guaranteed by the United States
PART A - ISSUES QUOTED ON A PRICE BASIS
Price data
Yield date 1/
Price range
1942 price range 2
<table><tr><th>Amount outstanding (Million)</th><th>Description</th><th colspan="3">Price data (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></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Oct.31, 1942</th><th>Yield 3/</th><th>Change in yield from Oct.31, 1942</th><th>Maturity yield</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>$ 24</td><td>Federal Home Loan Banks</td><td>2% D - 4/1/43</td><td>100.12</td><td>100.16</td><td>100.14</td><td>-.03</td><td>.67%</td><td>-.03%</td><td>.67%</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>100.14</td><td>11/30</td></tr><tr><td>125</td><td>Federal Land Banks 4/</td><td>4% - 7/1/44-46</td><td>105.02</td><td>105.08</td><td>105.05</td><td>-.11</td><td>.71</td><td>+.05</td><td>2.49</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>105.05</td><td>11/30</td></tr><tr><td>114</td><td>4 - 7/15/44-64</td><td>105.02</td><td>105.10</td><td>105.06</td><td>-.08</td><td>.77</td><td>.00</td><td>3.65</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>105.06</td><td>11/30/42</td><td>108.02</td><td>1/26</td><td>105.06</td><td>11/30</td></tr><tr><td>157</td><td>3-1/4 - 5/1/45-55</td><td>105.24</td><td>106.00</td><td>105.28</td><td>-.06</td><td>.79</td><td>.00</td><td>2.69</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>105.26</td><td>11/27</td></tr><tr><td>230</td><td>3 - 7/1/45-55</td><td>105.16</td><td>105.24</td><td>105.20</td><td>-.04</td><td>.79</td><td>-.02</td><td>2.48</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>105.20</td><td>11/30</td></tr><tr><td>171</td><td>3 - 1/1/46-56</td><td>106.18</td><td>106.26</td><td>106.22</td><td>-.04</td><td>.80</td><td>-.01</td><td>2.40</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>106.22</td><td>11/30</td></tr><tr><td>170</td><td>3 - 5/1/46-56</td><td>107.16</td><td>107.24</td><td>107.20</td><td>-.08</td><td>.73</td><td>+.02</td><td>2.33</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. Aseociation</td><td></td><td></td><td></td><td></td><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>100.19</td><td>100.23</td><td>100.21</td><td>-.01</td><td>.56</td><td>-.15</td><td>.56</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>100.19</td><td>10/17</td></tr><tr><td>55</td><td>1-5/8 B - 1/3/40-44 5/</td><td>100.18</td><td>100.22</td><td>100.20</td><td>-.01</td><td>.17</td><td>-.50</td><td>1.04</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>100.20</td><td>11/30</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>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from October 31, 1942</th></tr><tr><td colspan="6">Federal Home Loan Banks</td></tr><tr><td>$18</td><td>T 3/4% J - 12/1/42 (4/15/42)</td><td>.60%</td><td>.45%</td><td>.52%</td><td>-.06%</td></tr><tr><td>24</td><td>T 7/8 K - 2/1/43 (4/15/42)</td><td>.70</td><td>.55</td><td>.62</td><td>-.06</td></tr><tr><td>22</td><td>T 3/4 L - 3/1/43 (9/1/42)</td><td>.75</td><td>.60</td><td>.68</td><td>-.02</td></tr><tr><td colspan="6">Federal Intermediate Credit Banks</td></tr><tr><td>22</td><td>T .85% - 12/1/42 (2/2/42)</td><td>6/6/</td><td>6/6/</td><td>-</td><td>-</td></tr><tr><td>8</td><td>T .85 - 12/1/42 (3/2/42)</td><td>6/6/</td><td>6/6/</td><td>-</td><td>-</td></tr><tr><td>11</td><td>T .65 - 12/1/42 (7/1/42)</td><td>6/6/</td><td>6/6/</td><td>-</td><td>-</td></tr><tr><td>5</td><td>T .50 - 12/1/42 (9/1/42)</td><td>6/6/</td><td>6/6/</td><td>-</td><td>-</td></tr><tr><td>18</td><td>T .70 - 1/2/43 (4/1/42)</td><td>.50</td><td>-</td><td>.50</td><td>-.05</td></tr><tr><td>16</td><td>T .75 - 1/2/43 (6/1/42)</td><td>.50</td><td>-</td><td>.50</td><td>-.05</td></tr><tr><td>26</td><td>T .75 - 2/1/43 (5/1/42)</td><td>.55</td><td>-</td><td>.55</td><td>-.05</td></tr><tr><td>16</td><td>T .90 - 3/1/43 (3/2/42)</td><td>.60</td><td>-</td><td>.60</td><td>-.05</td></tr><tr><td>15</td><td>T .75 - 3/1/43 (8/1/42)</td><td>.60</td><td>-</td><td>.60</td><td>-.05</td></tr><tr><td>20</td><td>T .85 - 4/1/43 (6/1/42)</td><td>.65</td><td>-</td><td>.65</td><td>-.05</td></tr><tr><td>11</td><td>T .70 - 4/1/43 (11/2/42)</td><td>.65</td><td>-</td><td>.65</td><td>-.05</td></tr><tr><td>16</td><td>T .85 - 5/1/43 (7/1/42)</td><td>.70</td><td>-</td><td>.70</td><td>-.05</td></tr><tr><td>18</td><td>T 3/4 - 5/1/43 (10/1/42)</td><td>.70</td><td>-</td><td>.70</td><td>-.05</td></tr><tr><td>20</td><td>T .85 - 6/1/43 (8/1/42)</td><td>.70</td><td>-</td><td>.70</td><td>-.10</td></tr><tr><td>23</td><td>T .90 - 7/1/43 (9/1/42)</td><td>.75</td><td>-</td><td>.75</td><td>-.10</td></tr><tr><td>20</td><td>T .85 - 8/2/43 (11/2/42)</td><td>.80</td><td>-</td><td>.80</td><td>-.05</td></tr></table>
T 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 to the yield columns in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "Whoa issued" prices are included begin-ning November 1, 1941. Dates of highs and lows, in case of recur-rence, 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/ Excludes leases completely held by Farm Credit Administration agencies.
5/ Callable on 30 days' notice at 100-1/2 on January or July 3, 1943. "Yield" is computed to maturity or that call date which gives the lowest yield.
6/ Not quoted.
54
YIELDS OF TREASURY SECURITIES NOV. 30, 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 for the various classes of points are fitted by eye. Issues for which an exchange offer has been made or which are due or callable in less than 3 months are excluded
55
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><tr><td colspan="11">Monthly Series 4/</td></tr><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>2.55</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>2.85</td><td>May</td><td>1.97</td><td>2.35</td><td>2.76</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>June</td><td>1.97</td><td>2.33</td><td>2.75</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>July</td><td>2.00</td><td>2.34</td><td>2.74</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>Aug.</td><td>2.02</td><td>2.34</td><td>2.73</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>Sept.</td><td>2.03</td><td>2.34</td><td>2.73</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>Oct.</td><td>2.05</td><td>2.33</td><td>2.72</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>Nov.</td><td>2.06</td><td>2.34</td><td>2.71</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><tr><td colspan="11">Weekly Series - Saturday Figures 5/</td></tr><tr><td>1942-June 6.</td><td>1.94</td><td>2.32</td><td>2.76</td><td>1942-Aug. 1.</td><td>2.00</td><td>2.34</td><td>2.74</td><td>1942-Oct. 3.</td><td>2.05</td><td>2.34</td><td>2.72</td></tr><tr><td>13.</td><td>1.94</td><td>2.32</td><td>2.74</td><td>8.</td><td>2.01</td><td>2.34</td><td>2.73</td><td>10.</td><td>2.05</td><td>2.33</td><td>2.71</td></tr><tr><td>20.</td><td>2.00 6/</td><td>2.32</td><td>2.75</td><td>15.</td><td>2.02</td><td>2.35</td><td>2.73</td><td>17.</td><td>2.05</td><td>2.33</td><td>2.71</td></tr><tr><td>27.</td><td>2.00</td><td>2.34</td><td>2.75</td><td>22.</td><td>2.02</td><td>2.34</td><td>2.73</td><td>24.</td><td>2.05</td><td>2.32</td><td>2.71</td></tr><tr><td>July 3.</td><td>2.01</td><td>2.34</td><td>2.75</td><td>Sept. 5.</td><td>2.02</td><td>2.34</td><td>2.73</td><td>Nov. 7.</td><td>2.05</td><td>2.33</td><td>2.70</td></tr><tr><td>11.</td><td>2.00</td><td>2.34</td><td>2.73</td><td>12.</td><td>2.02</td><td>2.34</td><td>2.72</td><td>14.</td><td>2.05</td><td>2.32</td><td>2.70</td></tr><tr><td>18.</td><td>2.00</td><td>2.34</td><td>2.74</td><td>19.</td><td>2.04</td><td>2.34</td><td>2.73</td><td>21.</td><td>2.05</td><td>2.35</td><td>2.70</td></tr><tr><td>25.</td><td>2.00</td><td>2.34</td><td>2.75</td><td>26.</td><td>2.04</td><td>2.34</td><td>2.73</td><td>28.</td><td>2.09</td><td>2.36</td><td>2.72</td></tr><tr><td colspan="11">Daily Series</td></tr><tr><td>1942-Nov. 2.</td><td>2.05</td><td>2.34</td><td>2.72</td><td>1942-Nov. 12.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>1942-Nov. 23.</td><td>2.06</td><td>2.35</td><td>2.71</td></tr><tr><td>3.</td><td>2.05 7/</td><td>2.33</td><td>2.71</td><td>13.</td><td>2.05</td><td>2.32</td><td>2.70</td><td>24.</td><td>2.07</td><td>2.36</td><td>2.71</td></tr><tr><td>4.</td><td>2.05</td><td>2.33</td><td>2.71</td><td>14.</td><td>2.05</td><td>2.32</td><td>2.70</td><td>25.</td><td>2.08 7/</td><td>2.36</td><td>2.71 7/</td></tr><tr><td>5.</td><td>2.05</td><td>2.33</td><td>2.71</td><td>16.</td><td>2.05</td><td>2.32</td><td>2.70</td><td>26.</td><td>2.08</td><td>2.36</td><td>2.72</td></tr><tr><td>6.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>17.</td><td>2.05</td><td>2.32</td><td>2.70</td><td>27.</td><td>2.09</td><td>2.36</td><td>2.72</td></tr><tr><td>7.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>18.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>28.</td><td></td><td></td><td></td></tr><tr><td>9.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>19.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>30.</td><td>2.09</td><td>2.36</td><td>2.73</td></tr><tr><td>10.</td><td>2.05</td><td>2.33 7/</td><td>2.70 7/</td><td>20.</td><td>2.05</td><td>2.34</td><td>2.70</td><td></td><td></td><td></td><td></td></tr><tr><td>11.</td><td>2.05 7/</td><td>2.33 7/</td><td>2.70 7/</td><td>21.</td><td>2.06</td><td>2.35</td><td>2.70</td><td></td><td></td><td></td><td></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 issued before March 1, 1941 is exempt from the surtax rates of the Federal income tax.) 2/ Average of taxable Treasury bonds neither due nor callable for twelve years. The 2-1/2 percent bonds of 1962-67 are excluded because of restrictions on their purchase and negotiability. 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. Prior to April 1, 1938, corporate bonds are averages of Saturday figures. 5/ On days when the exchanges are closed, the date an prices of the previous day are used. 6/ Indicates change in composition of the average. 7/ Holiday.
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS Monthly Series
Monthly average of daily yields.
56
GOVERNMENT CORPORATIONS AND CREDIT AGENCIES OF THE UNITED STATES
-57-
58
Assets and Liabilities of Government Corporations and Credit Agencies
October 31, 1942
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="9">Assets</th></tr><tr><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>Banks for cooperatives</td><td>227.8</td><td>130.3</td><td>-</td><td>22.5</td><td>33.8</td><td>.2</td><td>39.4</td><td>1.4</td><td>.1</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Commodity Credit Corporation</td><td>1,693.8</td><td>187.7</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>80.3</td><td>7.7</td><td>-</td><td>-</td><td>1,415.24</td></tr><tr><td>Disaster Loan Corporation</td><td>21.4</td><td>7.6</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>13.7</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Electric Home and Farm Authority</td><td>8.2</td><td>8.0</td><td>-</td><td>.2</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>195.0</td><td>118.6</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>-</td><td>75.6</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>270.6</td><td>244.3</td><td>-</td><td>21.7</td><td>-</td><td>-</td><td>-</td><td>.4</td><td>*</td><td>-</td><td>-</td><td>4.3</td></tr><tr><td>Farm Security Administration</td><td>510.7</td><td>453.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>31.3</td><td>.6</td><td>24.9</td><td>-</td><td>.6</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>45.0</td><td>-</td><td>-</td><td>10.3</td><td>-</td><td>-</td><td>-</td><td>11.2</td><td>-</td><td>-</td><td>-</td><td>20.5</td></tr><tr><td>Federal Deposit Insurance Corporation 5/</td><td>645.7</td><td>43.0</td><td>-</td><td>18.5</td><td>525.0</td><td>-</td><td>-</td><td>33.1</td><td>.1</td><td>-</td><td>-</td><td>26.1</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,252.3</td><td>528.4</td><td>-</td><td>13.1</td><td>-</td><td>-</td><td>637.2</td><td>58.2</td><td>-</td><td>4.5</td><td>-</td><td>10.9</td></tr><tr><td>Federal home loan banks</td><td>303.1</td><td>131.4</td><td>-</td><td>64.5</td><td>103.8</td><td>2.5</td><td>*</td><td>.8</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Federal Housing Administration</td><td>113.1</td><td>-</td><td>-</td><td>18.9</td><td>47.2</td><td>-</td><td>-</td><td>38.9</td><td>1.3</td><td>-</td><td>-</td><td>6.8</td></tr><tr><td>Federal intermediate credit banks</td><td>365.2</td><td>247.5</td><td>-</td><td>31.0</td><td>44.0</td><td>-</td><td>-</td><td>3.1</td><td>-</td><td>39.4</td><td>-</td><td>.2</td></tr><tr><td>Federal land banks 6/</td><td>2,187.8</td><td>1,044.9</td><td>-</td><td>43.1</td><td>170.0</td><td>78.8</td><td>20.5</td><td>166.9</td><td>5.5</td><td>10.1</td><td>-</td><td>47.9</td></tr><tr><td>Federal National Mortgage Association</td><td>220.2</td><td>213.7</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>-</td><td>5.2</td><td>*</td><td>-</td><td>-</td><td>.5</td></tr><tr><td>Federal Prison Industries, Incorporated</td><td>14.9</td><td>-</td><td>-</td><td>3.7</td><td>-</td><td>-</td><td>-</td><td>2.5</td><td>6.8</td><td>-</td><td>-</td><td>1.9</td></tr><tr><td>Federal Public Housing Authority</td><td>546.3</td><td>377.1</td><td>-</td><td>28.6</td><td>7.2</td><td>-</td><td>*</td><td>6.0</td><td>127.4</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>136.8</td><td>-</td><td>-</td><td>1.3</td><td>28.1</td><td>99.6</td><td>-</td><td>7.9</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,174.5</td><td>1,603.1</td><td>152.4</td><td>73.2</td><td>-</td><td>-</td><td>-</td><td>4.9</td><td>2.7</td><td>-</td><td>100.0</td><td>238.3</td></tr><tr><td>Inland Waterways Corporation 7/</td><td>24.7</td><td>.4</td><td>-</td><td>1.3</td><td>2.9</td><td>-</td><td>-</td><td>1.2</td><td>18.7</td><td>-</td><td>-</td><td>.2</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.8</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama Railroad Company 1/</td><td>66.6</td><td>-</td><td>-</td><td>10.7</td><td>3.0</td><td>-</td><td>.3</td><td>.5</td><td>46.1</td><td>5.3</td><td>-</td><td>.6</td></tr><tr><td>Production credit corporations</td><td>126.6</td><td>-</td><td>-</td><td>.5</td><td>12.5</td><td>-</td><td>113.0</td><td>.5</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Public Works 8/</td><td>90.1</td><td>90.1</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>22.3</td><td>4.2</td><td>1.2</td><td>2.7</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>5,549.6</td><td>1,533.3</td><td>367.9</td><td>2,49/</td><td>59.3</td><td>-</td><td>8.3</td><td>31.69/</td><td>.5</td><td>3,125.0</td><td>361.6</td><td>59.8</td></tr><tr><td>Regional agricultural credit corporations</td><td>22.8</td><td>5.5</td><td>-</td><td>17.0</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>EFC Mortgage Company</td><td>103.6</td><td>91.3</td><td>-</td><td>*</td><td>-</td><td>.4</td><td>-</td><td>2.0</td><td>6.7</td><td>-</td><td>-</td><td>3.1</td></tr><tr><td>Rural Electrification Administration</td><td>359.0</td><td>344.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.4</td><td>-</td><td>6.2</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>606.0</td><td>-</td><td>-</td><td>23.7</td><td>-</td><td>-</td><td>-</td><td>7.3</td><td>574.0</td><td>1.1</td><td>-</td><td>-</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>23.3</td><td>38.4</td><td>7.8</td><td>-</td><td>2,867.2</td></tr><tr><td>United States Maritime Commission</td><td>3,003.4</td><td>23.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>43.1</td><td>458.2</td><td>.4</td><td>.2</td><td>-</td><td>2,965.8</td></tr><tr><td>War corporations 10/</td><td>3,691.6</td><td>98.2</td><td>1.1</td><td>167.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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>3.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.3</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>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Spruce Production Corporation</td><td>.4</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>War Shipping Administration</td><td>212.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.8</td><td>139.3</td><td>34.2</td><td>-</td><td>36.7</td></tr><tr><td>Other Government agencies 11/</td><td>5,120.9</td><td>26.1</td><td>17.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5,049.6</td><td>-</td><td>27.6</td></tr><tr><td>Gross total</td><td>29,941.4</td><td>8,159.1</td><td>540.1</td><td>580.7</td><td>1,036.9</td><td>182.3</td><td>861.7</td><td>1,087.7</td><td>976.2</td><td>8,308.2</td><td>461.6</td><td>7,746.8</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-8,769.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-8,308.2</td><td>-461.6</td><td>-</td></tr><tr><td>Net total</td><td>21,171.5</td><td>8,159.1</td><td>540.1</td><td>580.7</td><td>1,036.9</td><td>182.3</td><td>861.7</td><td>1,087.7</td><td>976.2</td><td>0</td><td>0</td><td>7,746.8</td></tr></table>
(Continued on following page)
59
Assets and Liabilities of Government Corporations and Credit Agencies
October 31, 1942 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="6">Liabilities and reserves</th><th rowspan="2">Excess of assets (Total proprietary interest)</th><th colspan="4">Proprietary interest Owned by United States 12/</th></tr><tr><th>Total</th><th>Guaranteed by United States (includes accrued interest)</th><th>Not guaranteed by United States</th><th>Due to Government corporations and agencies</th><th>Re- serves</th><th>Prior- itarily owned</th><th>Total</th><th>Capital stock</th><th>Surplus</th><th>Non- stock</th></tr><tr><td></td><td></td><td></td><td>Treasury</td><td>Other</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Banks for cooperatives</td><td>41.2</td><td>-</td><td>.2</td><td>39.4</td><td>1.6</td><td>186.6</td><td>8.0</td><td>178.6</td><td>156.5</td><td>22.1</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,587.0</td><td>750.4</td><td>78.0</td><td>626.5</td><td>-</td><td>106.7</td><td>-</td><td>106.7</td><td>100.0</td><td>6.7</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>.3</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>21.2</td><td>-</td><td>21.2</td><td>24.0</td><td>-2.8</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>6.7</td><td>-</td><td>6.5</td><td>-</td><td>.2</td><td>1.5</td><td>-</td><td>1.5</td><td>.9</td><td>.7</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>194.7</td><td>-</td><td>194.7</td><td>175.0</td><td>19.7</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>219.1</td><td>-</td><td>.4</td><td>-</td><td>218.7</td><td>51.5</td><td>-</td><td>51.5</td><td>-</td><td>-</td><td>51.5</td></tr><tr><td>Farm Security Administration</td><td>209.2</td><td>-</td><td>19.9</td><td>-</td><td>189.3</td><td>301.5</td><td>-</td><td>301.5</td><td>-</td><td>-</td><td>301.5</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>17.9</td><td>-</td><td>17.9</td><td>-</td><td>-</td><td>27.2</td><td>-</td><td>27.2</td><td>35.0</td><td>-7.8</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation 5/</td><td>356.4</td><td>-</td><td>21.5</td><td>-</td><td>334.9</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>1,152.3</td><td>948.1</td><td>6.7</td><td>117.4</td><td>1.7</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>111.7</td><td>-</td><td>111.7</td><td>-</td><td>-</td><td>191.4</td><td>66.6</td><td>124.7</td><td>124.7</td><td>-</td><td>88.8</td></tr><tr><td>Federal Housing Administration</td><td>28.3</td><td>21.2</td><td>7.0</td><td>-</td><td>.1</td><td>84.8</td><td>-</td><td>84.8</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal intermediate credit banks</td><td>277.6</td><td>-</td><td>277.0</td><td>-</td><td>.6</td><td>87.7</td><td>-</td><td>87.7</td><td>60.0</td><td>27.7</td><td>-</td></tr><tr><td>Federal land banks 7/</td><td>1,695.9</td><td>-</td><td>1,639.8</td><td>-</td><td>1.5</td><td>491.0</td><td>227.7</td><td>263.3</td><td>117.2</td><td>146.1</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>196.1</td><td>-</td><td>90.8</td><td>-</td><td>105.4</td><td>24.1</td><td>-</td><td>24.1</td><td>10.0</td><td>14.1</td><td>-</td></tr><tr><td>Federal Prison Industries, Incorporated</td><td>.6</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>14.3</td><td>-</td><td>14.3</td><td>-</td><td>10.2</td><td>4.1</td></tr><tr><td>Federal Public Housing Authority</td><td>404.5</td><td>114.8</td><td>.5</td><td>281.3</td><td>-</td><td>141.8</td><td>-</td><td>141.8</td><td>1.0</td><td>140.8</td><td>-</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>135.0</td><td>-</td><td>135.0</td><td>100.0</td><td>35.0</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,086.4</td><td>1,565.8</td><td>23.8</td><td>452.6</td><td>-</td><td>88.1</td><td>-</td><td>88.1</td><td>200.0</td><td>-111.9</td><td>-</td></tr><tr><td>Inland Waterway Corporation 5/</td><td>1.0</td><td>-</td><td>.7</td><td>-</td><td>.2</td><td>23.7</td><td>-</td><td>23.7</td><td>12.0</td><td>11.7</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.8</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>2.8</td></tr><tr><td>Panama Railroad Company 6/</td><td>9.8</td><td>-</td><td>8.2</td><td>-</td><td>.4</td><td>56.8</td><td>-</td><td>56.8</td><td>7.0</td><td>49.8</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.4</td><td>-</td><td>.1</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 8/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>90.1</td><td>-</td><td>90.1</td><td>-</td><td>-</td><td>90.1</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>.8</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>21.5</td><td>-</td><td>21.5</td><td>-</td><td>-</td><td>21.5</td></tr><tr><td>Reconstruction Finance Corporation</td><td>4,943.7</td><td>899.1</td><td>374.29/</td><td>3,514.3</td><td>31.1</td><td>606.0</td><td>-</td><td>606.0</td><td>325.0</td><td>281.02/</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>.4</td><td>-</td><td>.2</td><td>-</td><td>.3</td><td>22.3</td><td>-</td><td>22.3</td><td>5.0</td><td>17.3</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>77.6</td><td>-</td><td>3.1</td><td>-</td><td>74.5</td><td>26.0</td><td>-</td><td>26.0</td><td>25.0</td><td>1.0</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>232.9</td><td>-</td><td>-</td><td>-</td><td>232.9</td><td>126.1</td><td>-</td><td>126.1</td><td>-</td><td>-</td><td>126.1</td></tr><tr><td>Tennessee Valley Authority</td><td>82.3</td><td>-</td><td>21.3</td><td>56.9</td><td>-</td><td>523.7</td><td>-</td><td>523.7</td><td>-</td><td>-</td><td>523.7</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>1,437.0</td><td>-</td><td>1,409.2</td><td>-</td><td>.8</td><td>1,566.4</td><td>-</td><td>1,566.4</td><td>-</td><td>-</td><td>1,566.4</td></tr><tr><td>War corporations 10/</td><td>3,492.1</td><td>-</td><td>963.6</td><td>-</td><td>2,523.0</td><td>5.5</td><td>199.5</td><td>199.5</td><td>186.6</td><td>.1</td><td>12.3</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></tr><tr><td>Navy Department (sale of surplus war supplies)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.3</td><td>-</td><td>3.3</td><td>-</td><td>-</td><td>3.3</td></tr><tr><td>Secretary of the Treasury (U. S. Railroad Administration)</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>.7</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>1.1</td><td>-</td><td>1.1</td><td>25.5</td><td>-24.3</td><td>-</td></tr><tr><td>United States Spruce Production Corporation</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>.3</td><td>-</td><td>.3</td><td>.1</td><td>.2</td><td>-</td></tr><tr><td>War Shipping Administration</td><td>75.3</td><td>-</td><td>50.9</td><td>-</td><td>-</td><td>137.6</td><td>-</td><td>137.6</td><td>-</td><td>-</td><td>137.6</td></tr><tr><td>Other Government agencies 11/</td><td>59.9</td><td>-</td><td>-</td><td>-</td><td>59.9</td><td>5,061.0</td><td>-</td><td>5,061.0</td><td>17.5</td><td>-</td><td>5,043.5</td></tr><tr><td>Gross total</td><td>18,808.1</td><td>4,299.4</td><td>5,136.2</td><td>5,049.0</td><td>3,259.2</td><td>1,064.3</td><td>11,133.2</td><td>441.6</td><td>10,691.6</td><td>2,073.0</td><td>644.0</td><td>7,969.6</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-8,308.2</td><td>-</td><td>-</td><td>-5,049.0</td><td>-3,259.2</td><td>-1461.6</td><td>-</td><td>-461.6</td><td>-459.8</td><td>-1.8</td><td>-</td></tr><tr><td>Net total</td><td>10,499.9</td><td>4,299.4</td><td>5,136.2</td><td>0</td><td>0</td><td>1,064.3</td><td>10,671.6</td><td>441.6</td><td>10,230.0</td><td>1,613.1</td><td>642.2</td><td>7,969.6</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $50,000.
1/ Excludes unexpended balances of appropriated funds.
2/ Includes deposits with the Reconstruction Finance Corporation and interest thereon.
3/ Includes paid-in Surplus.
4/ Represents chiefly commodity loans and underlying security taken over from leading agencies pursuant to guaranty purchase agreements. Also includes commodities acquired through direct purchases from producers and others, as well as interagency transactions of "canti-lease" funds which figures are not available, and which would otherwise be shown under "Due from Government corporations and agencies".
5/ Figures shown are as of August 31, 1942, the latest available.
5/ Includes the assets and liabilities of the Federal Land Banks of Louisville and Roetest which have retired stock and paid-in surplus previously held by the Federal Government.
1/ Figures shown are as of September 30, 1942, the latest available.
8/ Consists of loans made by Public Works Administration for $89,755,678.59 and by War Public Works for $324,000.
9/ Adjusted for interagency items and items in transit.
10/ Comprises Cargoes, Inc., Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation.
11/ Comprises Treasury Department and other Government agencies not listed in this statement.
12/ Excludes the interest of the United States represented by obligations held by the Treasury.
60
Sources of Funds of Certain Government Corporations and Credit Agencies for the First Four Months, Fiscal Year 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, reade-counts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 7,000,000</td><td>$ 7,810,585</td><td>-</td><td>-</td><td>$ -64,300</td></tr><tr><td>Commodity Credit Corporation</td><td>-9,815,514 2/</td><td>-</td><td>$225,000,000</td><td>$ 46,950,000</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>-3,127,500</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>-146,000,000</td><td>-</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>-1,000,000</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-4,536,344</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>3,660,183</td><td>-</td><td>6,000,000</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>-100,000,000</td><td>-</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation</td><td>-</td><td>751,000</td><td>970,810,000</td><td>-321,909,000</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>9,854,104</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>1,685,455</td><td>5,959,811</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 4/</td><td>150,000,000</td><td>714,391,596</td><td>-</td><td>-</td><td>1,500,000</td></tr><tr><td>Total</td><td>$152,530,129</td><td>$734,230,752</td><td>$955,810,000</td><td>$-282,086,500</td><td>$1,435,700</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 5/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sourcee of funds</th></tr><tr><td>Central Bank for Cooperatives.</td><td>-</td><td>$ 34,242,404</td><td>$ 461,141</td><td>$ 22,675</td><td>$ 49,472,505</td></tr><tr><td>Commodity Credit Corporation.</td><td>$354,292,423</td><td>38,503,252</td><td>3,609,777</td><td>13,376,559</td><td>671,916,497</td></tr><tr><td>Disaster Loan Corporation.</td><td>12,212</td><td>3,955,090</td><td>-1,005,101</td><td>179,923</td><td>3,142,124</td></tr><tr><td>Electric Home and Farm Authority.</td><td>-</td><td>3,413,748</td><td>247,500</td><td>6,908</td><td>540,656</td></tr><tr><td>Export-Import Bank of Washington.</td><td>-</td><td>3,022,548</td><td>1,488,954</td><td>-</td><td>4,511,502</td></tr><tr><td>Federal Deposit Insurance Corporation 3/.</td><td>-</td><td>6,428,986</td><td>30,417,974</td><td>306,337</td><td>37,153,297</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>2,781,700</td><td>39,246,020</td><td>17,018,075</td><td>6,770,849</td><td>-80,183,355</td></tr><tr><td>Federal home loan banks.</td><td>-</td><td>83,310,219</td><td>1,768,832</td><td>-3,263,059</td><td>77,815,992</td></tr><tr><td>Federal National Mortgage Association.</td><td>437,982</td><td>6,379,437</td><td>3,404,884</td><td>154,729</td><td>5,840,688</td></tr><tr><td>Federal Public Housing Authority.</td><td>-</td><td>64,305,089</td><td>3,955,822</td><td>158,565</td><td>78,079,664</td></tr><tr><td>Federal Saving and Loan Insurance Corporation.</td><td>-</td><td>-</td><td>1,377,558</td><td>5,496</td><td>1,383,054</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>19,199,661</td><td>74,094,050</td><td>40,161,942</td><td>-43,398</td><td>33,412,255</td></tr><tr><td>Reconstruction Finance Corporation.</td><td>1,304,482</td><td>95,449,521</td><td>29,285,301</td><td>4,313,091</td><td>780,064,395</td></tr><tr><td>RFC Mortgage Company.</td><td>96,917</td><td>5,947,180</td><td>1,227,150</td><td>518,031</td><td>17,643,381</td></tr><tr><td>Rural Electrification Administration.</td><td>-</td><td>3,612,296</td><td>2,516,344</td><td>27</td><td>13,773,933</td></tr><tr><td>War corporations 4/.</td><td>225,780,900</td><td>17,962,149</td><td>2,945,372</td><td>541,859,784</td><td>1,654,439,801</td></tr><tr><td>Total.</td><td>$603,966,277</td><td>$479,871,989</td><td>$138,881,525</td><td>$564,366,517</td><td>$3,349,006,389</td></tr></table>
Source: Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Represents balance of repayment of amounts paid to the Commodity Credit Corporation for capital impairment on basis of appraisal of the Corporation as of March 31, 1942, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938.
Figures are as of September 30, 1942, the latest available. Comprises Cargoe Incorporated, Defense Homea Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metale Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation. Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
61
Uses of Funds of Certain Government Corporations and Credit Agencies for the First Four Months, Fiscal Year 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives.</td><td>$ 32,798</td><td>-</td><td>-</td><td>$ 45,349,425</td><td>-</td></tr><tr><td>Commodity Credit Corporation.</td><td>1,364,834</td><td>-</td><td>$ 653,764,569</td><td>46,323,047</td><td>-</td></tr><tr><td>Disaster Loan Corporation.</td><td>133,772</td><td>$ 4,452</td><td>-</td><td>538,153</td><td>-</td></tr><tr><td>Electric Home and Farm Authority.</td><td>107,209</td><td>77,542</td><td>-</td><td>446,181</td><td>-</td></tr><tr><td>Export-Import Bank of Washington.</td><td>53,588</td><td>399</td><td>-</td><td>8,840,940</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation 2/.</td><td>861,789</td><td>-</td><td>-</td><td>4,585,240</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>2,726,273</td><td>308,157</td><td>883,782</td><td>5,136,472</td><td>-</td></tr><tr><td>Federal home loan banks.</td><td>465,770</td><td>-</td><td>-</td><td>22,042,199</td><td>-</td></tr><tr><td>Federal National Mortgage Association.</td><td>241,145</td><td>501,913</td><td>-</td><td>4,663,917</td><td>-</td></tr><tr><td>Federal Public Housing Authority.</td><td>982,868</td><td>368,075</td><td>1,161,802</td><td>53,841,744</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>58,831</td><td>12,781</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rene Owners' Loan Corporation.</td><td>3,698,661</td><td>7,137,442</td><td>8,211,909</td><td>2,228,080</td><td>$20,572,375</td></tr><tr><td>Reconstruction Finance Corporation.</td><td>3,337,746</td><td>1,791,371</td><td>-</td><td>149,840,000</td><td>-</td></tr><tr><td>RFC Mortgage Company.</td><td>221,104</td><td>97,357</td><td>873,766</td><td>15,449,408</td><td>-</td></tr><tr><td>Rural Electrification Administration.</td><td>975,801</td><td>-</td><td>-</td><td>6,139,041</td><td>-</td></tr><tr><td>War corporations 3/.</td><td>2,686,811</td><td>852,764</td><td>1,305,400,722</td><td>30,585,912</td><td>-</td></tr><tr><td>Total.</td><td>$17,949,000</td><td>$11,152,353</td><td>$1,970,296,550</td><td>$396,009,759</td><td>$20,572,375</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net)</th><th>Allocations, radio-counts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 16,334,123</td><td>-</td><td>$ 116,460</td><td>$ 21,716</td><td>$ 61,854,520</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$-33,935,962</td><td>3,250,617</td><td>1,955,318</td><td>572,722,424</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>2,461,201</td><td>-</td><td>4,546</td><td>3,142,124</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>11,628</td><td>257</td><td>642,916</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-3,400,000</td><td>-</td><td>-</td><td>5,494,927</td></tr><tr><td>Federal Deposit Insurance Corporation 2/</td><td>35,000,000</td><td>-</td><td>-</td><td>-896,570</td><td>39,550,459</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-96,641,220</td><td>-</td><td>1,831,664</td><td>1,015,662</td><td>-84,739,211</td></tr><tr><td>Federal home loan banks</td><td>36,910,376</td><td>-</td><td>1,112,046</td><td>77,486</td><td>60,607,877</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>452,900</td><td>-19,185</td><td>5,840,688</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>792,215</td><td>2,498,386</td><td>59,645,091</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>4,940,000</td><td>-</td><td>-</td><td>-554,040 1/</td><td>4,457,572</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-14,701,550</td><td>-</td><td>1,883,172</td><td>119,938</td><td>29,150,327</td></tr><tr><td>Reconstruction Finance Corporation</td><td>1,851,000</td><td>625,507,209</td><td>15,109,192</td><td>7,516,864</td><td>804,953,332</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>824,473</td><td>177,273</td><td>17,613,331</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>3,204,049</td><td>-</td><td>10,318,831</td></tr><tr><td>War corporations 3/</td><td>-</td><td>111,676,498</td><td>407,521</td><td>44,406,072</td><td>1,496,016,300</td></tr><tr><td>Total</td><td>$-16,307,271</td><td>$702,308,946</td><td>$28,995,937</td><td>$56,323,722</td><td>$1,187,301,768</td></tr></table>
3/
Comprises Cargoes
Incorporated, Defense H
Plant Corporation, American Affairs,
Defense Supplies Corporation, Institute of Inter-American Navigation Corporation, Metals
American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Reserve Company, Smelter War Plants Corporation, United States Commercial Company and War Damage Corporation.
ource:
Reports received from the corporations and agencies. Data on basis of checks issued.
1/ Receipts from the repayment of mortgage loans appear under "Repayment of loans" in the statement of sources of funds.
2/ Figures are as of September 30, 1942, the latest available.
4
Includes expenditures for contributions and claims in insured financial institutions.
subrogated shares of
62
Sources of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through October 31, 1942
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscounts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net) 2/</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 57,000,000</td><td>$ 18,746,694</td><td>-</td><td>-</td><td>$ 1,213,200</td></tr><tr><td>Commodity Credit Corporation</td><td>243,950,524 3/</td><td>-</td><td>$ 625,000,000</td><td>$ 748,004,000</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>24,000,000 4/</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Electric Home and Farm Authority</td><td>1,000,000</td><td>-</td><td>-</td><td>5,605,000</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1,000,000</td><td>-</td><td>-</td><td>-</td><td>174,000,000</td></tr><tr><td>Federal Deposit Insurance Corporation 5/</td><td>150,000,000</td><td>-</td><td>-</td><td>-</td><td>139,499,557</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>100,000,000 4/</td><td>-</td><td>117,000,000</td><td>929,764,200</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>87,500,000</td><td>124,741,000 6/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>99,579,968</td><td>-</td><td>85,240,000</td><td>11,000,000</td></tr><tr><td>Federal Public Housing Authority</td><td>51,359,655</td><td>-</td><td>280,000,000</td><td>114,157,000</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100,000,000</td></tr><tr><td>Home Owners' Loan Corporation</td><td>200,000,000 4/</td><td>-</td><td>451,000,000</td><td>3,114,453,550</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation</td><td>325,000,000</td><td>851,000</td><td>3,504,728,446</td><td>897,743,000</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>72,138,864</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>138,424,209</td><td>230,504,156</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 7/</td><td>150,000,000</td><td>2,541,036,914</td><td>-</td><td>-</td><td>36,601,000</td></tr><tr><td>Total</td><td>$1,441,734,388</td><td>$2,962,857,596</td><td>$4,977,728,446</td><td>$5,982,466,750</td><td>$611,854,757</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 345,257,044</td><td>$ 11,936,561</td><td>$ 4,682,161</td><td>$ 438,835,660</td></tr><tr><td>Commodity Credit Corporation</td><td>$1,431,871,237</td><td>1,051,774,943</td><td>34,430,485</td><td>23,041,941</td><td>4,158,073,130</td></tr><tr><td>Disaster Loan Corporation</td><td>152,812</td><td>21,822,113</td><td>842,842</td><td>214,057</td><td>47,031,824</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>39,017,464</td><td>5,276,995</td><td>358,525</td><td>51,257,984</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>123,880,439</td><td>18,668,075</td><td>707,119</td><td>318,255,634</td></tr><tr><td>Federal Deposit Insurance Corporation 5/</td><td>-</td><td>108,349,979</td><td>397,796,025</td><td>4,721,064</td><td>800,166,625</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>24,726,306</td><td>445,972,572</td><td>512,279,848</td><td>20,136,382</td><td>2,149,879,308</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>819,599,185</td><td>48,447,901</td><td>78,074,277 2/</td><td>1,158,362,363</td></tr><tr><td>Federal National Mortgage Association</td><td>1,699,748</td><td>52,220,508</td><td>32,552,368</td><td>4,806,983</td><td>287,099,574</td></tr><tr><td>Federal Public Housing Authority</td><td>951,401</td><td>738,943,824</td><td>44,017,020</td><td>1,478,698</td><td>1,230,907,598</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>44,463,092</td><td>224,466</td><td>144,687,558</td></tr><tr><td>Home Owners' Loan Corporation</td><td>203,656,928</td><td>1,228,239,451</td><td>1,023,402,237</td><td>28,381,729</td><td>6,249,133,896</td></tr><tr><td>Reconstruction Finance Corporation</td><td>29,099,301</td><td>5,787,911,939</td><td>715,798,766</td><td>126,125,701</td><td>11,387,258,153</td></tr><tr><td>RFC Mortgage Company</td><td>871,112</td><td>143,611,850</td><td>16,793,259</td><td>5,262,548</td><td>263,677,633</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>16,318,365</td><td>18,273,489</td><td>167</td><td>403,520,386</td></tr><tr><td>War corporations 1/</td><td>586,837,090</td><td>19,267,368</td><td>5,711,087</td><td>733,492,243</td><td>4,072,945,703</td></tr><tr><td>Total</td><td>$2,279,865,935</td><td>$10,942,187,044</td><td>$2,930,690,050</td><td>$1,031,708,061</td><td>$33,161,093,029</td></tr></table>
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/ Except for the Rome Owners' Loan Corporation, sales of obligations in the market, as shown in this column, are reduced by the amount of obligations which have been retired (including those which have in effect been refunded through the sale of obligations to the Treasury). In the case of the Rome Owners' Loan Corporation, the original amount of obligations sold in the market is shown in this column and the retirement and refunding of these obligations are shown as "Retirement of obligations issued in exchange for mortgages" in the statement of uses of funds.
2/ Includes $3,000,000 N.I.R.A.; $97,000,000 R.F.C. included in notes canceled by the Treasury (See footnote 4/); and $143,950,523.60 restoration of capital impairment, which is net of repayments to the Treasury of $43,756,731.01 on the basis of March 31, 1940 appraisal, and $27,815,513.68 on the basis of March 31, 1942 appraisal of the corporation, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938.
4/ These funds were furnished by the Reconstruction Finance Corporation from the proceeds of 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, 1935. Figures are as of September 30, 1942, the latest available.
5/ 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.
7/ Comprises Cargoes Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation.
8/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
9/ Includes $51,237,575 paid-in capital stock held by member institutions.
63
Uses of Funds of Certain Government Corporations and Credit Agencies
from Inception of Organization through October 31, 1942
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives.</td><td>$ 1,043,182</td><td>-</td><td>-</td><td>$ 391,772,958</td><td>-</td></tr><tr><td>Commodity Credit Corporation.</td><td>12,349,269</td><td>-</td><td>$1,841,210,701</td><td>2,196,530,600</td><td>-</td></tr><tr><td>Disaster Loan Corporation.</td><td>3,597,348</td><td>$ 134,212</td><td>-</td><td>29,793,094</td><td>-</td></tr><tr><td>Electric Home and Farm Authority.</td><td>2,522,569</td><td>1,394,041</td><td>-</td><td>46,435,709</td><td>-</td></tr><tr><td>Export-Import Bank of Washington.</td><td>745,139</td><td>12,299</td><td>-</td><td>242,472,744</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation 2/.</td><td>28,173,547</td><td>-</td><td>-</td><td>191,990,314</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>81,752,528</td><td>6,091,079</td><td>17,622,352</td><td>1,067,465,393</td><td>-</td></tr><tr><td>Federal home loan banks.</td><td>11,306,477</td><td>-</td><td>-</td><td>950,976,101</td><td>-</td></tr><tr><td>Federal National Mortgage Association.</td><td>4,104,770</td><td>4,526,449</td><td>-</td><td>268,663,622</td><td>-</td></tr><tr><td>Federal Public Housing Authority.</td><td>20,553,412</td><td>7,082,857</td><td>27,465,784</td><td>1,109,370,818</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>1,681,864</td><td>73,817</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>236,834,472</td><td>145,528,169</td><td>153,682,159</td><td>3,271,492,264</td><td>$1,566,708,175</td></tr><tr><td>Reconstruction Finance Corporation.</td><td>94,791,258</td><td>11,637,396</td><td>-</td><td>7,784,910,335</td><td>-</td></tr><tr><td>RFC Mortgage Company.</td><td>5,394,477</td><td>4,750,494</td><td>8,860,935</td><td>236,075,819</td><td>-</td></tr><tr><td>Rural Electrification Administration.</td><td>15,914,791</td><td>-</td><td>-</td><td>360,755,050</td><td>-</td></tr><tr><td>War corporations 1/.</td><td>3,927,983</td><td>1,564,504</td><td>3,531,676,255</td><td>103,613,743</td><td>-</td></tr><tr><td>Total.</td><td>$524,693,086</td><td>$182,795,317</td><td>$5,580,518,186</td><td>$18,252,318,565</td><td>$1,566,708,175</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) $/</th><th>Allocations, radio- counts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other ex- penditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 29,984,864</td><td>-</td><td>$ 777,597</td><td>$ 3,542,478</td><td>$ 427,121,079</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$ 50,396,223</td><td>$34,554,650</td><td>$ 20,310,925</td><td>$ 4,155,352,368</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>$ 13,501,099</td><td>-</td><td>$ 5,072</td><td>$ 47,030,824</td></tr><tr><td>Electric Home and Farm Authority</td><td>-</td><td>-</td><td>$ 516,175</td><td>$ 196,303</td><td>$ 51,064,796</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>$ 71,450,000</td><td>$ 2,362,329</td><td>$ 593,801</td><td>$ 317,636,312</td></tr><tr><td>Federal Deposit Insurance Corporation 2/</td><td>$ 526,948,154</td><td>-</td><td>-</td><td>$ 32,503,088</td><td>$ 779,615,102</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>$ 637,172,620</td><td>-</td><td>$ 309,958,682</td><td>$ 21,606,383</td><td>$ 2,141,669,037</td></tr><tr><td>Federal home loan banks</td><td>$ 106,278,291</td><td>-</td><td>$ 24,882,474</td><td>$ 390,790</td><td>$ 1,093,834,133</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>$ 9,566,521</td><td>$ 238,212</td><td>$ 287,099,574</td></tr><tr><td>Federal Public Housing Authority</td><td>$ 7,070,000</td><td>-</td><td>$ 7,115,494</td><td>$ 17,276,428</td><td>$ 1,195,934,794</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>$ 127,785,837</td><td>-</td><td>$ 3,035,326</td><td>$ 10,815,916</td><td>$ 143,392,759</td></tr><tr><td>Home Owners' Loan Corporation</td><td>$ 252,368,310</td><td>-</td><td>$ 542,079,556</td><td>$ 7,287,768</td><td>$ 6,175,980,873</td></tr><tr><td>Reconstruction Finance Corporation</td><td>$ 369,892,000</td><td>$ 2,821,956,438</td><td>$ 280,364,634</td><td>$ 23,301,788</td><td>$ 11,386,853,850</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>$ 8,000,432</td><td>$ 594,347</td><td>$ 263,676,505</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>$ 15,419,538</td><td>$ 371,526</td><td>$ 392,460,906</td></tr><tr><td>War corporations 1/</td><td>-</td><td>$ 117,137,105</td><td>$ 408,269</td><td>$ 151,140,903</td><td>$ 3,909,468,763</td></tr><tr><td>Total</td><td>$2,057,500,076</td><td>$3,074,440,865</td><td>$1,239,041,677</td><td>$290,175,728</td><td>$32,768,191,675</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/ Figures are as of September 30, 1942, the latest available.
3/ Includes the retirement of those obligations which were in effect refunded through sale of securities to the Treasury.
4/ Comprises Cargoes Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation
Corporation, Metale Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation.
5/ Includes U. S. Government bonds in the amount of $536,898,455 as follows: Federal Deposit Insurance Corporation. $414,458,012.33; Federal Savings and Loan Insurance Corporation, $18,664,500; Federal Public Housing Authority, $7,070,000; Federal home loan banks, $91,155,943; Central Bank for Cooperatives, $5,550,000.
6/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
INTERNAL REVENUE STATISTICS
- 64 -
65
Summary of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th colspan="4">Income and profits taxes</th><th colspan="4">Employment taxes</th></tr><tr><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' Taxing Act of 1937</th></tr><tr><td>1929</td><td>2,939,054</td><td>2,331,274</td><td>1,095,541</td><td>1,235,733</td><td>-</td><td>-</td><td>-</td><td>-</td><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>833,648</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>48</td><td>-</td><td>-</td><td>48</td></tr><tr><td>1936</td><td>3,494,330</td><td>1,427,445</td><td>674,416</td><td>738,520</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>1,286,712</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>982,017</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>3,471,122</td><td>1,417,655</td><td>2,016,295</td><td>37,172</td><td>925,856</td><td>687,327</td><td>100,658</td><td>137,871</td></tr><tr><td>1942</td><td>13,029,912</td><td>8,006,880</td><td>3,262,800</td><td>4,687,459</td><td>56,621</td><td>1,185,362</td><td>895,336</td><td>119,617</td><td>170,409</td></tr><tr><td>1941-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>514,159</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>83,355</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><tr><td>May</td><td>649,124</td><td>204,578</td><td>19,523</td><td>178,337</td><td>6,718</td><td>167,739</td><td>139,170</td><td>7,286</td><td>21,283</td></tr><tr><td>June</td><td>2,444,186</td><td>2,131,452</td><td>727,125</td><td>1,393,448</td><td>10,879</td><td>28,383</td><td>3,358</td><td>1,145</td><td>23,880</td></tr><tr><td>July</td><td>807,454</td><td>221,585</td><td>62,873</td><td>156,218</td><td>2,494</td><td>127,019</td><td>120,882</td><td>5,536</td><td>601</td></tr><tr><td>August</td><td>681,368</td><td>164,032</td><td>40,523</td><td>120,313</td><td>3,196</td><td>177,282</td><td>140,967</td><td>5,993</td><td>30,322</td></tr><tr><td>September</td><td>2,459,874</td><td>2,122,989</td><td>670,306</td><td>1,436,081</td><td>16,602</td><td>22,096</td><td>4,562</td><td>808</td><td>16,726</td></tr><tr><td>October</td><td>702,425</td><td>220,385</td><td>26,468</td><td>186,668</td><td>7,250</td><td>133,919</td><td>127,882</td><td>5,408</td><td>629</td></tr><tr><td>November</td><td>845,855</td><td>184,549</td><td>27,058</td><td>155,031</td><td>2,160</td><td>183,195</td><td>118,478</td><td>5,753</td><td>28,964</td></tr></table>
<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>Manufacturers' and retailers' excise taxes</th><th>Miscellaneous taxes</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>629,287</td><td>-</td><td>64,770</td><td>11,695</td><td>450,339</td><td>77,729</td><td>344</td><td>25,010</td><td>-</td></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>66,580</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>305,518</td><td>593,831</td><td>551,923</td><td>69,919</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>2,359,641</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>2,954,553</td><td>166,653</td><td>407,058</td><td>819,869</td><td>697,712</td><td>39,057</td><td>617,373</td><td>206,831</td><td>-</td></tr><tr><td>1942</td><td>3,837,670</td><td>281,900</td><td>432,541</td><td>1,048,165</td><td>780,792</td><td>41,702</td><td>852,069</td><td>400,501</td><td>-</td></tr><tr><td>1941-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>66,058</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>2,795</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>81,127</td><td>62,866</td><td>3,159</td><td>70,008</td><td>32,685</td><td>-</td></tr><tr><td>May</td><td>276,807</td><td>485</td><td>25,087</td><td>84,074</td><td>65,798</td><td>2,954</td><td>63,025</td><td>35,384</td><td>-</td></tr><tr><td>June</td><td>284,351</td><td>264</td><td>25,321</td><td>86,004</td><td>71,446</td><td>2,735</td><td>56,369</td><td>42,212</td><td>-</td></tr><tr><td>July</td><td>458,850</td><td>228</td><td>45,582</td><td>113,986</td><td>74,077</td><td>2,817</td><td>61,935</td><td>160,225</td><td>-</td></tr><tr><td>August</td><td>340,054</td><td>233</td><td>29,681</td><td>122,896</td><td>73,933</td><td>2,653</td><td>59,756</td><td>50,902</td><td>-</td></tr><tr><td>September</td><td>314,789</td><td>589</td><td>27,919</td><td>111,280</td><td>77,148</td><td>2,681</td><td>55,996</td><td>39,176</td><td>-</td></tr><tr><td>October</td><td>348,120</td><td>266</td><td>35,147</td><td>118,949</td><td>82,532</td><td>3,167</td><td>66,042</td><td>42,017</td><td>-</td></tr><tr><td>November</td><td>478,111</td><td>185,445</td><td>26,954</td><td>104,431</td><td>78,607</td><td>3,399</td><td>47,137</td><td>32,138</td><td>-</td></tr></table>
Source: 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.
3/ 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 date 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/ Include tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 15, 1933.
66
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to 1942
First 5 Months Fiscal Year 1943
* Includes miscellaneous profit taxes
67
Detailed Analysis of Current Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th>November 1942</th><th colspan="2">First 5 months</th><th>Sources of revenue</th><th>November 1942</th><th colspan="2">First 5 months</th></tr><tr><th></th><th></th><th>Fiscal year 1942</th><th>Fiscal year 1943</th><th></th><th></th><th>Fiscal year 1942</th><th>Fiscal year 1943</th></tr><tr><td>Income and profits taxes:</td><td></td><td></td><td></td><td>Miscellaneous internal revenue (continued):</td><td></td><td></td><td></td></tr><tr><td>Individual</td><td></td><td></td><td></td><td>Stamp taxes:</td><td></td><td></td><td></td></tr><tr><td>Current</td><td>18,702</td><td>302,454</td><td>784,883</td><td>Bonds, issues of capital stocks, deeds of conveyance, etc.</td><td>1,553</td><td>9,677</td><td>7,981</td></tr><tr><td>Back</td><td>8,356</td><td>39,787</td><td>42,315</td><td>Transfers of capital stock and similar</td><td></td><td></td><td></td></tr><tr><td>Corporation</td><td></td><td></td><td></td><td>interest sales</td><td>1,018</td><td>5,152</td><td>3,415</td></tr><tr><td>Current</td><td>67,198</td><td>540,409</td><td>1,094,020</td><td>Playing cards</td><td>815</td><td>2,794</td><td>2,841</td></tr><tr><td>Back</td><td>15,203</td><td>64,296</td><td>86,720</td><td>Silver bullion sales or transfers</td><td>3</td><td>12</td><td>50</td></tr><tr><td>Excess profits taxes (Second Revenue Act of 1940 as amended)</td><td>72,630</td><td>93,246</td><td>873,571</td><td>Repealed taxes not listed above</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Miscellaneous profits taxes</td><td></td><td></td><td></td><td>Total stamp taxes</td><td>3,399</td><td>17,635</td><td>14,717</td></tr><tr><td>Declared value</td><td>2,225</td><td>11,424</td><td>30,711</td><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td></tr><tr><td>Vineon Act</td><td>45</td><td>29</td><td>191</td><td>Lubricating oils</td><td>2,838</td><td>22,015</td><td>16,137</td></tr><tr><td>Unjust enrichment</td><td>190</td><td>2,405</td><td>1,099</td><td>Gasoline</td><td>20,719</td><td>172,721</td><td>140,653</td></tr><tr><td>Total income and profit taxes</td><td>184,549</td><td>1,054,050</td><td>2,913,540</td><td>Tires and tubes</td><td>762</td><td>26,522</td><td>5,153</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Floor taxes on tires and tubes</td><td>1</td><td>6,445</td><td>28</td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td>Automobile trucks and buses</td><td>380</td><td>5,481</td><td>2,912</td></tr><tr><td>Federal Insurance Contributions Act (Old-age insurance)</td><td>148,478</td><td>424,211</td><td>542,771</td><td>Other automobiles and motorcycles</td><td>160</td><td>37,442</td><td>1,170</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance)</td><td>5,753</td><td>19,395</td><td>23,498</td><td>Parts and accessories for automobiles</td><td>1,194</td><td>8,119</td><td>8,063</td></tr><tr><td>Total Social Security taxes</td><td>154,231</td><td>443,606</td><td>566,269</td><td>Electrical energy</td><td>3,099</td><td>19,984</td><td>19,989</td></tr><tr><td>Carriers' Taxing Act of 1937</td><td>28,964</td><td>63,286</td><td>77,242</td><td>Electric, gas, and oil appliances</td><td>500</td><td>990</td><td>8,821</td></tr><tr><td>Total employment taxes</td><td>183,195</td><td>506,892</td><td>643,511</td><td>Electric light bulbs and tubes</td><td>81</td><td>319</td><td>1,148</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td>Electric signs (repealed as of 11/1/42)</td><td>22</td><td>82</td><td>389</td></tr><tr><td>Capital stock tax</td><td>185,445</td><td>226,935</td><td>186,752</td><td>Radio sets, phonograph, components, etc.</td><td>441</td><td>3,743</td><td>3,364</td></tr><tr><td>Estate tax</td><td>25,719</td><td>134,813</td><td>161,292</td><td>Photograph records</td><td>139</td><td>*</td><td>735</td></tr><tr><td>Gift tax</td><td>1,235</td><td>2,682</td><td>3,992</td><td>Musical instruments</td><td>85</td><td>120</td><td>800</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Mechanical refrigerators, air-conditioners, etc.</td><td>615</td><td>6,838</td><td>3,627</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>6,827</td><td>16,124</td><td>25,177</td><td>Matches</td><td>566</td><td>354</td><td>3,205</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>52,842</td><td>228,743</td><td>301,490</td><td>Floor taxes on matches</td><td>*</td><td>1,570</td><td>4</td></tr><tr><td>Distilled spirit rectification tax</td><td>1,283</td><td>7,543</td><td>9,339</td><td>Business and store machines</td><td>726</td><td>287</td><td>3,928</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>82</td><td>153</td><td>299</td><td>Furs - retailers' excise</td><td>3,916</td><td>947</td><td>11,556</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>3,644</td><td>8,578</td><td>13,834</td><td>Jewelry - retailers' excise</td><td>6,024</td><td>1,740</td><td>29,614</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>-</td><td>1,176</td><td>*</td><td>Luggage</td><td>398</td><td>108</td><td>2,255</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>94</td><td>5,253</td><td>5,220</td><td>Optical equipment (repealed as of 11/1/42)</td><td>32</td><td>5</td><td>259</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>*</td><td>1</td><td>*</td><td>Photographic apparatus</td><td>827</td><td>143</td><td>4,552</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>103</td><td>524</td><td>651</td><td>Rubber articles (repealed as of 11/1/42)</td><td>1,187</td><td>355</td><td>11,033</td></tr><tr><td>Container stamps</td><td>700</td><td>5,121</td><td>5,464</td><td>Sporting goods</td><td>174</td><td>106</td><td>2,652</td></tr><tr><td>Floor taxes</td><td>6,371</td><td>2,527</td><td>20,468</td><td>Toilet preparations - retailers' excise</td><td>2,127</td><td>931</td><td>11,647</td></tr><tr><td>Fermented malt liquor</td><td>32,438</td><td>162,289</td><td>187,239</td><td>Washing machines (repealed as of 11/1/42)</td><td>5</td><td>18</td><td>34</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>47</td><td>2,639</td><td>2,461</td><td>Firearms, shells and cartridges</td><td>78</td><td>2,498</td><td>979</td></tr><tr><td>Total alcoholic beverage taxes</td><td>104,431</td><td>440,671</td><td>571,542</td><td>Pistols and revolvers</td><td>5</td><td>30</td><td>32</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Repealed taxes not listed above</td><td>35</td><td>2,935</td><td>127</td></tr><tr><td>Cigars (large)</td><td>2,252</td><td>6,355</td><td>7,793</td><td>Total manufacturers' and retailers' excise taxes</td><td>47,137</td><td>322,848</td><td>290,866</td></tr><tr><td>Cigars (small)</td><td>7</td><td>45</td><td>41</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td></tr><tr><td>Cigarettes (large)</td><td>2</td><td>7</td><td>10</td><td>Bituminous Coal Act of 1937</td><td>424</td><td>2,231</td><td>2,319</td></tr><tr><td>Cigarettes (small)</td><td>71,565</td><td>298,076</td><td>353,310</td><td>Sugar Act of 1937</td><td>5,349</td><td>31,882</td><td>24,539</td></tr><tr><td>Snuff</td><td>548</td><td>2,957</td><td>2,818</td><td>Telephone, telegraph, radio and cable, leased wires, etc.</td><td>4,448</td><td>14,321</td><td>25,590</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>4,111</td><td>23,244</td><td>21,754</td><td>Local telephone service</td><td>2,572</td><td>223</td><td>21,484</td></tr><tr><td>Cigarette papers and tubes</td><td>86</td><td>882</td><td>534</td><td>Transportation of oil by pipe line</td><td>1,219</td><td>5,730</td><td>5,879</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>*</td><td>2</td><td>1</td><td>Transportation of persons, seats, berths, etc. (effective 10/10/41)</td><td>4,062</td><td>490</td><td>22,938</td></tr><tr><td>Cigarette floor taxes</td><td>36</td><td>4</td><td>36</td><td>Use of motor vehicles (effective 2/1/42)</td><td>851</td><td>1</td><td>136,836</td></tr><tr><td>Total tobacco taxes</td><td>78,607</td><td>331,592</td><td>386,297</td><td>Use of boats (effective 2/1/42)</td><td>4</td><td>*</td><td>300</td></tr><tr><td></td><td></td><td></td><td></td><td>Leases of safe-deposit boxes</td><td>373</td><td>1,046</td><td>2,728</td></tr><tr><td></td><td></td><td></td><td></td><td>Admissions to theaters, concerts, cabarets, etc.</td><td>11,311</td><td>37,760</td><td>94,589</td></tr><tr><td></td><td></td><td></td><td></td><td>Club dues and initiation fees</td><td>509</td><td>2,739</td><td>2,807</td></tr><tr><td></td><td></td><td></td><td></td><td>Bowling alleys, pool tables, etc.</td><td>53</td><td>935</td><td>1,470</td></tr><tr><td></td><td></td><td></td><td></td><td>Coin operated devices</td><td>479</td><td>3,170</td><td>7,173</td></tr><tr><td></td><td></td><td></td><td></td><td>Adulterated and processed or renovated butter, mixed flour 2/ and filled cheese</td><td>3</td><td>13</td><td>20</td></tr><tr><td></td><td></td><td></td><td></td><td>Olocarmacarine, including special taxe</td><td>155</td><td>1,357</td><td>1,349</td></tr><tr><td></td><td></td><td></td><td></td><td>Narcotics, including marijuana and special taxes</td><td>50</td><td>255</td><td>326</td></tr><tr><td></td><td></td><td></td><td></td><td>Coconut and other vegetable oils processed</td><td>276</td><td>3,321</td><td>901</td></tr><tr><td></td><td></td><td></td><td></td><td>National Firearms Act</td><td>*</td><td>10</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>*</td><td>24</td><td>34</td></tr><tr><td>Total miscellaneous taxes</td><td>32,138</td><td>105,518</td><td>324,157</td><td>Total miscellaneous taxes</td><td>32,138</td><td>105,518</td><td>324,157</td></tr><tr><td>Total miscellaneous internal revenue</td><td>478,111</td><td>1,582,694</td><td>1,939,925</td><td>Total internal revenues</td><td>845,855</td><td>3,143,636</td><td>5,496,976</td></tr></table>
Source: Reports of collections. * Less than $500. 1/ Exclude collections for credit to certain trust accounts for
2/ Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942.
GOLD AND SILVER STATISTICS
-68-
69
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>Gold Certificates 1/</th><th>Gold Reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1934</td><td>8,238.6</td><td>5,274.0</td><td>156.0</td><td>1,800.0</td><td>1,008.6</td></tr><tr><td>1935</td><td>10,122.9</td><td>7,679.5</td><td>156.0</td><td>1,800.0</td><td>487.4</td></tr><tr><td>1936</td><td>11,257.6</td><td>8,959.6</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>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>20,504.8</td><td>156.0</td><td>1,800.0</td><td>215.3</td></tr><tr><td>1941-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>20,504.8</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><tr><td>May</td><td>22,714.4</td><td>20,581.3</td><td>156.0</td><td>1,800.0</td><td>177.1</td></tr><tr><td>June</td><td>22,736.5</td><td>20,625.3</td><td>156.0</td><td>1,800.0</td><td>155.2</td></tr><tr><td>July</td><td>22,743.7</td><td>20,605.0</td><td>156.0</td><td>1,800.0</td><td>182.7</td></tr><tr><td>August</td><td>22,755.7</td><td>20,634.3</td><td>156.0</td><td>1,800.0</td><td>165.4</td></tr><tr><td>September</td><td>22,754.1</td><td>20,634.8</td><td>156.0</td><td>1,800.0</td><td>163.3</td></tr><tr><td>October</td><td>22,739.7</td><td>20,627.8</td><td>156.0</td><td>1,800.0</td><td>155.9</td></tr><tr><td>November</td><td>22,743.4</td><td>20,631.1</td><td>156.0</td><td>1,800.0</td><td>156.2</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/ Reserves against United States notes and Treasury notes of 1890.
3/ Excludes gold in active portion of Exchange Stabilisation Fund.
Monetary Stocks of Gold and Silver
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Gold ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks</th></tr><tr><td>1934</td><td>7,856.2</td><td>898.2</td><td>10.3</td></tr><tr><td>1935</td><td>9,115.6</td><td>1,463.1</td><td>13.8</td></tr><tr><td>1936</td><td>10,608.4</td><td>2,249.5</td><td>17.5</td></tr><tr><td>1937</td><td>12,318.3</td><td>2,542.1</td><td>17.2</td></tr><tr><td>1938</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>1940</td><td>19,953.1</td><td>3,939.6</td><td>16.5</td></tr><tr><td>1941</td><td>22,624.2</td><td>4,148.7</td><td>15.5</td></tr><tr><td>1942</td><td>22,736.7</td><td>4,306.0</td><td>15.9</td></tr><tr><td>1941-November</td><td>22,785.3</td><td>4,232.7</td><td>15.7</td></tr><tr><td>December</td><td>22,736.6</td><td>4,244.8</td><td>15.7</td></tr><tr><td>1942-January</td><td>22,747.2</td><td>4,257.1</td><td>15.8</td></tr><tr><td>February</td><td>22,704.8</td><td>4,267.5</td><td>15.8</td></tr><tr><td>March</td><td>22,687.4</td><td>4,277.8</td><td>15.9</td></tr><tr><td>April</td><td>22,690.8</td><td>4,289.2</td><td>15.9</td></tr><tr><td>May</td><td>22,714.4</td><td>4,301.3</td><td>15.9</td></tr><tr><td>June</td><td>22,736.7</td><td>4,306.0</td><td>15.9</td></tr><tr><td>July</td><td>22,744.3</td><td>4,311.9</td><td>15.9</td></tr><tr><td>August</td><td>22,755.7</td><td>4,311.6</td><td>15.9</td></tr><tr><td>September</td><td>22,754.4</td><td>4,314.3</td><td>15.9</td></tr><tr><td>October</td><td>22,739.7</td><td>4,308.6</td><td>15.9</td></tr><tr><td>November</td><td>22,743.4 p</td><td>4,290.9 p</td><td>15.9</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money p Preliminary.
70
MONETARY STOCKS OF GOLD AND SILVER IN THE UNITED STATES
Gold per Ounce $35.00; Silver per Ounce $1.29
71
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>.r</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>515.3</td><td>44.4</td><td>372.3</td><td>3,346.8</td></tr><tr><td>1939</td><td>1,298.2</td><td>499.0</td><td>5.3</td><td>.r</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>.r</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>.r</td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.3</td></tr><tr><td>1941-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>.r</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>.r</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>.r</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>11.5</td><td>.r</td><td>664.2</td><td>64.4</td><td>496.9</td><td>4,277.8</td></tr><tr><td>April</td><td>1,496.9</td><td>481.6</td><td>13.4</td><td>.4</td><td>663.9</td><td>65.4</td><td>501.4</td><td>4,289.2</td></tr><tr><td>May</td><td>1,502.7</td><td>480.2</td><td>14.0</td><td>.r</td><td>662.5</td><td>66.9</td><td>509.7</td><td>4,301.3</td></tr><tr><td>June</td><td>1,505.8</td><td>478.7</td><td>13.0</td><td>.r</td><td>660.3</td><td>68.3</td><td>516.8</td><td>4,306.0</td></tr><tr><td>July</td><td>1,509.5</td><td>477.0</td><td>15.1</td><td>.r</td><td>657.2</td><td>70.1</td><td>524.3</td><td>4,311.9</td></tr><tr><td>August</td><td>1,511.7</td><td>475.5</td><td>19.5</td><td>.r</td><td>652.1</td><td>71.6</td><td>531.7</td><td>4,311.6</td></tr><tr><td>September</td><td>1,513.6</td><td>473.3</td><td>14.2</td><td>.r</td><td>647.2</td><td>73.7</td><td>543.1</td><td>4,314.3</td></tr><tr><td>October</td><td>1,515.0</td><td>471.7</td><td>13.5</td><td></td><td>640.0</td><td>75.3</td><td>561.8</td><td>4,308.6</td></tr><tr><td>November p</td><td>1,515.8</td><td>470.2</td><td>9.9</td><td></td><td>634.9</td><td>75.3</td><td>561.3</td><td>4,290.9</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. 1/ Valued at $1.29* per ounce. 2/ Valued at $1.38* per ounce. p Preliminary. r Revised. * Less than $50,000.
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">Nationalized 2/</th><th colspan="2">Foreign 3/</th><th colspan="2">Total</th></tr><tr><th></th><th>Ouncee</th><th>Dollare</th><th>Ouncee</th><th>Dollere</th><th>Ouncee</th><th>Dollare</th><th>Ouncee</th><th>Dollere</th></tr><tr><td>1934</td><td>21.8</td><td>14.1</td><td>110.6</td><td>55.3</td><td>172.5</td><td>86.5</td><td>304.9</td><td>155.9</td></tr><tr><td>1935</td><td>38.0</td><td>27.3</td><td>2.0</td><td>1.0</td><td>494.4</td><td>318.2</td><td>534.3</td><td>346.5</td></tr><tr><td>1936</td><td>61.1</td><td>47.3</td><td>.4</td><td>.2</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.8</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>72.6</td><td>27.1</td><td>143.1</td><td>77.2</td></tr><tr><td>1941-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><tr><td>May</td><td>7.0</td><td>5.0</td><td>-</td><td>-</td><td>1.7</td><td>.7</td><td>8.7</td><td>5.7</td></tr><tr><td>June</td><td>4.0</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4.0</td><td>2.8</td></tr><tr><td>July</td><td>5.5</td><td>3.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5.5</td><td>3.9</td></tr><tr><td>August</td><td>2.9</td><td>2.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.9</td><td>2.1</td></tr><tr><td>September</td><td>2.5</td><td>1.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.5</td><td>1.8</td></tr><tr><td>October</td><td>2.0</td><td>1.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.0</td><td>1.4</td></tr><tr><td>November</td><td>1.2</td><td>.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.2</td><td>.9</td></tr></table>
1/ Acquired at 64.64+ cents per fine ounce until April 9, 1935; at 71.11+ cents per fine ounce from that date until April 24, 1935; at 77.57+ cents from April 23, 1935 to December 31, 1937; at 64.64+ cents per fine ounce from December 31, 1937 to July 1, 1939; and at 71.11+ cents since July 1, 1939.
2/ Acquired at 50.01 cents per fine ounce. Executive Proclamation of August 9, 1934, repealed April 28, 1938.
3/ Acquired at various prices averaging approximately 51 cents per ounce.
72
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 coine</th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mixed 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>Potential seigniorage on silver bullion at cost in General Fund 2/</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>1,055.3</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>1,097.3</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><tr><td>May</td><td>204.0</td><td>48.7</td><td>87.6</td><td>57.5</td><td>584.3</td><td>34.7</td><td>812.8</td><td>1,097.5</td></tr><tr><td>June</td><td>209.2</td><td>48.7</td><td>87.6</td><td>58.9</td><td>584.3</td><td>34.7</td><td>814.2</td><td>1,095.5</td></tr><tr><td>July</td><td>213.0</td><td>48.7</td><td>87.6</td><td>60.6</td><td>584.3</td><td>34.7</td><td>815.9</td><td>1,090.0</td></tr><tr><td>August</td><td>218.5</td><td>48.7</td><td>87.6</td><td>61.6</td><td>584.3</td><td>34.7</td><td>816.9</td><td>1,085.5</td></tr><tr><td>September</td><td>225.8</td><td>48.7</td><td>87.6</td><td>62.4</td><td>584.3</td><td>34.7</td><td>817.7</td><td>1,082.5</td></tr><tr><td>October</td><td>233.4</td><td>48.7</td><td>87.6</td><td>63.1</td><td>584.3</td><td>34.7</td><td>818.4</td><td>1,068.5</td></tr><tr><td>November</td><td>239.5</td><td>48.7</td><td>87.6</td><td>63.4</td><td>584.3</td><td>34.7</td><td>818.7</td><td>1,060.0</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 thereof 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="7">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 Indie 4/</th><th>Other Asea</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>14,261</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>190,338</td><td>32,487</td><td>17,555</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>7,863</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>5,635</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-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>1,681</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>21,768</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>20,361</td><td>4,470</td><td>1,478</td><td>7,213</td><td>1,000</td><td>1,580</td><td>4,620</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March</td><td>21,657</td><td>5,285</td><td>1,606</td><td>7,211</td><td>1,300</td><td>1,635</td><td>4,620</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April</td><td>6/</td><td>5,606</td><td>1,613</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><tr><td>May</td><td>6/</td><td>4,948</td><td>1,624</td><td>6/</td><td>1,300</td><td>6/</td><td>6/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>6/</td><td>6/</td><td>1,537</td><td>6/</td><td>1,500</td><td>6/</td><td>6/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>6/</td><td>6/</td><td>1,966</td><td>6/</td><td>1,400</td><td>6/</td><td>6/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August</td><td>6/</td><td>6/</td><td>1,505</td><td>6/</td><td>1,350</td><td>6/</td><td>6/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September</td><td>6/</td><td>6/</td><td>1,758</td><td>6/</td><td>1,450</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 1939; 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
-73-
74
Individual Income Tax in United States, United Kingdom, and Canada
Married Person Without Dependents
The following tables show the amount of individual income taxes payable by a married person without dependents on selected amounts of net income under the tax laws of the United States, the United Kingdom, and Canada.
The data for the United States include the income tax liability under the New York State income tax. About a third of the American States have no net income taxes, and in many of the others the rates are below those in New York. In neither Canada nor the United Kingdom do jurisdictions other than the central government now impose income taxes.
For purposes of these calculations it is assumed that net income is the same for the New York tax as for the United States tax except that the New York tax is deducted in computing the net income subject to Federal tax. The United States tax shown is the liability under the Revenue Act of 1942. This includes the 5-percent Victory tax, which does not become effective until January 1, 1943, in computing the Victory tax, it has been assumed that gross income subject to Victory tax (before the exemption) is ten-ninths of net income. The income tax exemption is $1,200, the Victory tax exemption $624. Maximum earned income credit has been assumed; this is 10 percent of earned net income but not more than $1,400 and is deducted only in computing the income subject to normal tax.
The calculations for the United Kingdom are based on the Finance Act of 1941, now in effect. The personal exemption for a married person is $560. Maximum earned income credit is assumed; this is 10 percent of net income but may not exceed $600. The rate of normal tax is 32-1/2 percent on the first $660 of normal tax net income and 50 percent on the balance. The surtax applies to net income before deduction of exemptions and credits and begins at 10 percent on income over $8,000. Conversion to dollars was made at the rate of $4 to the pound.
The Canadian law provides for a flat rate normal tax of 7 percent on all net income if the net income is over $1,200 for a married person. In addition the amount of net income in excess of $600 is subject to graduated rates ranging from 30 to 85 percent, but a married person is allowed a deduction of $150 from the tax payable under the graduated rates. The total normal tax and graduated tax cannot reduce the income after tax to less than $1,200. There is no earned income credit, but an additional tax of 4 percent is imposed on investment income above $1,500.
The description above applies to "grosse taxes", part of which are refundable currently or after the war. The United Kingdom does not permit the taxpayer to take the post-war credit currently. In the United States
the taxpayer may take the post-war credit currently to the extent of (a) premium payments on life insurance policies in force September 1, 1942 (b) net reduction of debt outstanding on September 1, 1942, plus (c) net purchases of eligible United States Government bonds. In Canada the credit (Minimum earnings requirement*) 2/ can be taken currently to the extent of (a) contributions to pension or retirement funds, (b) premiums paid on life insurance policies in force prior to June 23, 1942, (or premiums not exceeding $100 on policies not in force prior to June 23, 1942), (c) reduction of debt outstanding prior to June 23, 1942, on one residential property, plus (d) certain types of installment savings in effect prior to June 23, 1942, where postponement of payments would result in substantial loss to the taxpayer.
These data are subject to the limitatios which apply to international tax comparisons. Some of its difference in the taxes of the three countries, not reflected in these tables, can be noted. The difference between the British and the United States and Canadian methods of taxing dividends is highly important. The British consider the tax (except the excess profits tax) paid by the corporation on its profits as a payment on behalf of the stockholder. If the stockholder is liable to the reduced (32-1/2 percent) normal tax rate instead of full rate (50 percent), he is entitled to claim a refund. For normal tax the stockholder is not required to include the dividends in his taxable income since the tax is paid at source. However, for surtax he must include not only the dividends actually received but also the tax paid by the corporation with respect to the dividends. The methods of taxing capital gains and losses also differ; the Canadians in general follow the British practice of disregarding gains and losses from certain casual or isolated transactions not connected with the taxpayer's trade or business; the United States, under the Revenue Act of 1942, includes capital gains and losses in income to varying degree but in effect provides that the tax rate on gains from capital assets held more than six months shall not exceed 25 percent. The definitions of the taxpayer unit and of "gross income" and "net income" vary considerably. The British, for example, require husbands and wives to file joint returns, grant virtually no exemption to interest on government bonds, include in gross income the rental value of a dwelling occupied by the owner, and do not allow the deduction of charitable contributions. Canada imposes a tax on the excess profits of unincorporated businesses. Finally, it should be noted that income tax comparisons do not represent comparisons of the total tax burdens for the three countries.
<table><tr><th>Net income before personal exemption</th><th colspan="3">United States, including New York State income tax 3/</th><th colspan="3">United Kingdom 4/</th><th colspan="3">Canada</th></tr><tr><th></th><th>Total tax liability</th><th>Post-war credit</th><th>Net tax liability</th><th>Total tax liability</th><th>Post-war credit</th><th>Net tax liability</th><th>Total tax liability</th><th>Post-war credit</th><th>Net tax liability</th></tr><tr><td colspan="10">Effective rates (percent)</td></tr><tr><td>$ 800</td><td>1.6</td><td>.6</td><td>1.0</td><td>6.5</td><td>6.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1,000</td><td>2.4</td><td>1.0</td><td>1.5</td><td>11.1</td><td>6.1</td><td>5.0</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1,200</td><td>2.9</td><td>1.2</td><td>1.8</td><td>14.1</td><td>5.4</td><td>8.7</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1,500</td><td>6.7</td><td>1.4</td><td>5.3</td><td>18.7</td><td>6.3</td><td>12.3</td><td>14.5</td><td>7.2</td><td>7.3</td></tr><tr><td>2,000</td><td>11.0</td><td>1.6</td><td>9.4</td><td>25.3</td><td>6.4</td><td>18.9</td><td>21.6</td><td>10.0</td><td>11.5</td></tr><tr><td>4,000</td><td>18.6</td><td>1.9</td><td>16.7</td><td>35.1</td><td>4.8</td><td>30.3</td><td>34.1</td><td>10.0</td><td>24.1</td></tr><tr><td>6,000</td><td>22.5</td><td>2.0</td><td>20.5</td><td>38.4</td><td>4.3</td><td>34.1</td><td>40.3</td><td>10.0</td><td>30.3</td></tr><tr><td>8,000</td><td>25.5</td><td>2.1</td><td>23.5</td><td>41.3</td><td>3.3</td><td>38.1</td><td>44.4</td><td>10.0</td><td>34.4</td></tr><tr><td>10,000</td><td>28.2</td><td>2.1</td><td>26.1</td><td>45.1</td><td>2.6</td><td>42.5</td><td>47.6</td><td>10.0</td><td>37.6</td></tr><tr><td>20,000</td><td>39.4</td><td>2.2</td><td>37.3</td><td>56.2</td><td>1.3</td><td>54.9</td><td>56.4</td><td>5.0</td><td>51.4</td></tr><tr><td>40,000</td><td>53.4</td><td>2.2</td><td>51.2</td><td>68.3</td><td>.7</td><td>67.7</td><td>66.1</td><td>2.5</td><td>63.6</td></tr><tr><td>60,000</td><td>61.0</td><td>1.7</td><td>59.3</td><td>76.0</td><td>.4</td><td>75.5</td><td>71.9</td><td>1.7</td><td>70.2</td></tr><tr><td>100,000</td><td>70.4</td><td>1.0</td><td>69.4</td><td>84.1</td><td>.3</td><td>83.8</td><td>79.0</td><td>1.0</td><td>78.0</td></tr><tr><td>200,000</td><td>81.2</td><td>.5</td><td>80.7</td><td>90.8</td><td>.1</td><td>90.7</td><td>87.5</td><td>.5</td><td>87.0</td></tr><tr><td>400,000</td><td>87.7</td><td>.3</td><td>87.4</td><td>94.1</td><td>.1</td><td>94.1</td><td>91.7</td><td>.3</td><td>91.5</td></tr><tr><td>600,000</td><td>89.8</td><td>.2</td><td>89.7</td><td>95.3</td><td>*</td><td>95.2</td><td>93.2</td><td>.2</td><td>93.0</td></tr><tr><td>1,000,000</td><td>90.5</td><td>.1</td><td>90.4</td><td>96.2</td><td>*</td><td>96.1</td><td>94.3</td><td>.1</td><td>94.2</td></tr><tr><td>2,000,000</td><td>90.5</td><td>.1</td><td>90.5</td><td>96.8</td><td>*</td><td>96.8</td><td>95.1</td><td>.1</td><td>95.1</td></tr><tr><td>4,000,000</td><td>90.5</td><td>*</td><td>90.5</td><td>97.2</td><td>*</td><td>97.2</td><td>95.6</td><td>*</td><td>95.5</td></tr><tr><td>5,000,000</td><td>90.5</td><td>*</td><td>90.5</td><td>97.2</td><td>*</td><td>97.2</td><td>95.7</td><td>*</td><td>95.6</td></tr><tr><td colspan="10">Amount of tax liability</td></tr><tr><td>$ 800</td><td>$ 13</td><td>$ 5</td><td>$ 8</td><td>$ 52</td><td>$ 52</td><td>$ -</td><td>$ -</td><td>$ -</td><td>$ -</td></tr><tr><td>1,000</td><td>24</td><td>10</td><td>15</td><td>111</td><td>61</td><td>50</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1,200</td><td>35</td><td>14</td><td>21</td><td>169</td><td>65</td><td>104</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1,500</td><td>100</td><td>21</td><td>79</td><td>280</td><td>94</td><td>185</td><td>$ 217</td><td>$ 108</td><td>$ 109</td></tr><tr><td>2,000</td><td>220</td><td>32</td><td>188</td><td>505</td><td>127</td><td>378</td><td>431</td><td>200</td><td>231</td></tr><tr><td>4,000</td><td>743</td><td>76</td><td>667</td><td>1,405</td><td>193</td><td>1,211</td><td>1,364</td><td>400</td><td>964</td></tr><tr><td>6,000</td><td>1,350</td><td>121</td><td>1,229</td><td>2,305</td><td>260</td><td>2,045</td><td>2,415</td><td>600</td><td>1,815</td></tr><tr><td>8,000</td><td>2,043</td><td>165</td><td>1,878</td><td>3,305</td><td>260</td><td>3,045</td><td>3,555</td><td>800</td><td>2,755</td></tr><tr><td>10,000</td><td>2,822</td><td>210</td><td>2,612</td><td>4,505</td><td>260</td><td>4,245</td><td>4,762</td><td>1,000</td><td>3,762</td></tr><tr><td>20,000</td><td>7,883</td><td>432</td><td>7,451</td><td>11,230</td><td>260</td><td>10,970</td><td>11,279</td><td>1,000</td><td>10,279</td></tr><tr><td>40,000</td><td>21,340</td><td>876</td><td>20,464</td><td>27,330</td><td>260</td><td>27,070</td><td>26,453</td><td>1,000</td><td>25,453</td></tr><tr><td>60,000</td><td>36,587</td><td>1,000</td><td>35,587</td><td>45,580</td><td>260</td><td>45,320</td><td>43,120</td><td>1,000</td><td>42,120</td></tr><tr><td>100,000</td><td>70,423</td><td>1,000</td><td>69,423</td><td>84,080</td><td>260</td><td>83,820</td><td>78,987</td><td>1,000</td><td>77,987</td></tr><tr><td>200,000</td><td>162,415</td><td>1,000</td><td>161,415</td><td>181,580</td><td>260</td><td>181,320</td><td>174,954</td><td>1,000</td><td>173,954</td></tr><tr><td>400,000</td><td>350,673</td><td>1,000</td><td>349,673</td><td>376,580</td><td>260</td><td>376,320</td><td>366,954</td><td>1,000</td><td>365,954</td></tr><tr><td>600,000</td><td>539,044</td><td>1,000</td><td>538,044</td><td>571,580</td><td>260</td><td>571,320</td><td>558,954</td><td>1,000</td><td>557,954</td></tr><tr><td>1,000,000</td><td>905,218</td><td>1,000</td><td>904,218</td><td>961,580</td><td>260</td><td>961,320</td><td>942,954</td><td>1,000</td><td>941,954</td></tr><tr><td>2,000,000</td><td>1,810,468</td><td>1,000</td><td>1,809,468</td><td>1,936,580</td><td>260</td><td>1,936,320</td><td>1,902,954</td><td>1,000</td><td>1,901,954</td></tr><tr><td>4,000,000</td><td>3,620,958</td><td>1,000</td><td>3,619,958</td><td>3,886,580</td><td>260</td><td>3,886,320</td><td>3,822,954</td><td>1,000</td><td>3,821,954</td></tr><tr><td>5,000,000</td><td>4,526,218</td><td>1,000</td><td>4,525,218</td><td>4,861,580</td><td>260</td><td>4,861,320</td><td>4,782,954</td><td>1,000</td><td>4,781,954</td></tr></table>
Sources: United States: Revenue Act of 1942; United Kingdom: Finance Act of 1941; Canada: Income War Tax Act as amended in 1942. Less than .05 percent. For the United States and the United Kingdom, maximum earned income is assumed. For Canada, all income in excess of $30,000 is assumed to be investment income.
2/ Taxpayers over 65 and with incomes of less than $5,000 are exempt from the minimum savings requirement.
3/ Tax liabilities shown for the United States includes the Victory Tax, which becomes effective on January 1, 1943. Net income is shown before deduction of the New York State tax.
4/ Pound converted at $4.00.
75
INDIVIDUAL INCOME TAX UNITED STATES, UNITED KINGDOM, AND CANADA
Effective Rates for Married Person without Dependents
INDIVIDUAL INCOME TAX IN THE UNITED STATES
Effective Rates for Married Person without Dependents
Selected Taxable Years, 1918-1942
76
Net Capital Movement to the United States, 1935 through August 1942
(In thousands of dollars. Net capital outflow (-))
<table><tr><th>Period</th><th>Net capital movement</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>26,758</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940)</td><td>1,195,635</td><td>1,132,383</td><td>32,930</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-Aug. 31, 1942)</td><td>369,376</td><td>377,335</td><td>3,033</td><td>15,989</td><td>-26,981</td></tr><tr><td>Total (Jan. 2, 1935-Aug. 31, 1942)</td><td>5,600,047</td><td>4,024,857</td><td>103,903</td><td>642,720</td><td>828,567</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941-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>March (Feb. 26-Apr. 1)</td><td>13,345</td><td>19,020</td><td>2,297</td><td>-1,329</td><td>-6,643</td></tr><tr><td>April (Apr. 2-Apr. 29)</td><td>227,185</td><td>232,238</td><td>-370</td><td>1,687</td><td>-6,370</td></tr><tr><td>May (Apr. 30-June 3)</td><td>103,821</td><td>130,712</td><td>640</td><td>2,458</td><td>11</td></tr><tr><td>June (June 4-June 30)</td><td>81,881</td><td>81,602</td><td>1,692</td><td>2,961</td><td>-4,374</td></tr><tr><td>July</td><td>47,429</td><td>58,225</td><td>-2,593</td><td>1,303</td><td>-9,506</td></tr><tr><td>August</td><td>57,340</td><td>48,408</td><td>251</td><td>9,427</td><td>-746</td></tr></table>
Note: The weekly series of capital movement data through July 1, 1942 has been superseded by a revised monthly series commencing with July 1, 1942. For an explanation of the adjustment made to eliminate the duplication in the two series resulting from the
overlapping of one day, see the "Treasury Bulletin" for October 1942, page 78. Revised.
<table><tr><td>Treas.</td><td>U.S. Treasury Dept.</td></tr><tr><td>HJ</td><td></td></tr><tr><td>10</td><td>Treasury Bulletin</td></tr><tr><td>.A2</td><td></td></tr><tr><td>1942</td><td></td></tr><tr><td>c.2</td><td></td></tr></table>
U.S. TREASURY LIBRARY 1 0031914