Treas. HJ 10 A2 c.2
COPY No.2
LIBRARY
ROOM 5030
JUN 2.1 1972
TREASURY DEPARTMENT
U.S. Treasury Dept.
Treasury BULLETIN
OF THE
TREASURY DEPARTMENT
APRIL
1943
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
LIBRARY
ROOM 5030
JUN 2,1 1972
TREASURY DEPARTMENT
APRIL 1943
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
LIBRARY ROOM 5030
JUN 2, 1972
TREASURY DEPARTMENT
Bulletin of the Treasury Department
, April 1943
Cumulative Table of Contents
<table><tr><th></th><th colspan="11">Issue and page number</th></tr><tr><th></th><th colspan="5">1943</th><th colspan="7">1942</th></tr><tr><th></th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td>I. Special articles</td><td></td><td></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 offered to public during Second War Loan, April 1943</td><td>2-3</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>Charts showing bank deposits by counties, as of December 31, 1942 and increases during 1942</td><td>4-5</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank deposits by Federal Reserve Districts and by States, December 31, 1941 and 1942</td><td></td><td>2-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales of United States Government securities in December 1942, classified by type of investor</td><td></td><td></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>Dividends received by corporations, individuals, and fiduciaries, 1936</td><td></td><td></td><td></td><td>3-6</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Estate tax rates and tax liability in the United States, United Kingdom, and Canada</td><td></td><td></td><td></td><td>7-8</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></td><td></td><td></td><td>74-75</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></td><td></td><td></td><td>75</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 public</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>22-23</td><td></td><td></td><td></td><td></td></tr><tr><td>Preliminary analysis of taxable excess profits tax returns for 1941 filed through July 31, 1942</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>71-73</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>21-22</td><td></td><td></td></tr><tr><td>II. 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>7</td><td>5</td><td>2</td><td>10</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>8</td><td>6</td><td>3</td><td>11</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>8</td><td>6</td><td>3</td><td>11</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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>III. 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>10-11</td><td>8-9</td><td>5-6</td><td>13-14</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></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>12</td><td>10</td><td>7</td><td>15</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></tr><tr><td>Analysis of receipts from internal revenue</td><td>12</td><td>10</td><td>7</td><td>15</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></tr><tr><td>Analysis of general expenditures</td><td>13</td><td>11</td><td>8</td><td>16</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></tr><tr><td>Analysis of expenditures for war activities</td><td>13</td><td>11</td><td>8</td><td>16</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></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>14</td><td>12</td><td>9</td><td>17</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></tr><tr><td>Total budget receipts and expenditures, by months, for recent years</td><td>14-15</td><td>12-13</td><td>9-10</td><td>17-18</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></tr><tr><td>Receipts and expenditures for trust accounts, increment on gold, etc.</td><td>16</td><td>14</td><td>11</td><td>19</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></tr><tr><td>Means of financing cash requirements beginning 1933</td><td>17</td><td>15</td><td>12</td><td>20</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></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>18</td><td>16</td><td>13</td><td>21</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></tr><tr><td>Railroad Retirement Act</td><td>19</td><td>17</td><td>14</td><td>22</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></tr><tr><td>Railroad Unemployment Insurance Act</td><td>19</td><td>17</td><td>14</td><td>22</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></tr><tr><td>Statement 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>20</td><td>18</td><td>15</td><td>23</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></tr><tr><td>Railroad Retirement Account</td><td>20</td><td>18</td><td>15</td><td>23</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></tr><tr><td>Unemployment Trust Fund</td><td>20</td><td>18</td><td>15</td><td>23</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></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>21</td><td>19</td><td>16</td><td>24</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></tr><tr><td>Total cash income and outgo, by months beginning 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>January 1936</td><td>21-22</td><td>19-20</td><td>16-17</td><td>24-25</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></tr><tr><td>January 1938</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>IV. 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>24</td><td>22</td><td>19</td><td>27</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></tr><tr><td>Analysis of changes in balance of General Fund</td><td>25</td><td>23</td><td>20</td><td>28</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></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, April 1943
Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th colspan="4">1943</th><th colspan="8">1942</th></tr><tr><th></th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sep.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td colspan="13">V. Public debt outstanding</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>22</td><td>23</td><td>20</td></tr><tr><td>Public debt</td><td>27</td><td>25</td><td>22</td><td>30</td><td>22</td><td>22</td><td>22</td><td>24</td><td>22</td><td>23</td><td>24</td><td>21</td></tr><tr><td>Public debt and guaranteed obligations</td><td>28</td><td>26</td><td>23</td><td>31</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></tr><tr><td>Composition of the public debt</td><td>28</td><td>26</td><td>23</td><td>31</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></tr><tr><td>Receipts and expenditures on account of public debt</td><td>29</td><td>27</td><td>24</td><td>32</td><td>24</td><td>24</td><td>24</td><td>26</td><td>24</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>24</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>25</td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942</td><td></td><td></td><td></td><td>33</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>30</td><td></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, 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>March 31, 1943</td><td></td><td></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>41</td><td>42</td><td>39</td><td></td></tr><tr><td>Public debt</td><td>31</td><td>28</td><td>25</td><td>34</td><td>25</td><td>25</td><td>26</td><td>27</td><td>25</td><td></td><td></td><td></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>32-33</td><td>29-30</td><td>26-27</td><td>35-36</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></tr><tr><td>Offerings of marketable issues of Treasury bonds, notes, and certificates of indebtedness beginning 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>24</td></tr><tr><td>January 1, 1938</td><td>34</td><td>31</td><td>28</td><td>37</td><td>28</td><td>28</td><td>29</td><td>30</td><td>28</td><td>27</td><td>27</td><td></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><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></td><td>25</td></tr><tr><td>April 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>28</td><td></td></tr><tr><td>May 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>28</td><td></td><td></td></tr><tr><td>June 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>29</td><td></td><td></td></tr><tr><td>July 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>31</td><td></td><td></td><td></td><td></td></tr><tr><td>August 1, 1941</td><td></td><td></td><td></td><td></td><td></td><td></td><td>30</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 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>October 1, 1941</td><td></td><td></td><td></td><td>38</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>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>December 1, 1941</td><td></td><td></td><td>32</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 1, 1942</td><td>35</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 1, 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>March 1, 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>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>36-37</td><td>33-34</td><td>30-31</td><td>39-40</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></tr><tr><td>Sales reported by series, classified by denomination</td><td>38</td><td>35</td><td>32</td><td>41</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></tr><tr><td>Sales reported by series, classified by type of purchaser</td><td>39-40</td><td>36-37</td><td>33-34</td><td>42-43</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></tr><tr><td>Sales reported by series, classified by States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Participation in payroll savings plans for United States savings bonds</td><td>41</td><td>38</td><td>35</td><td>44</td><td>35</td><td>35</td><td>37</td><td>38</td><td>36</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>42</td><td>39</td><td>36</td><td>45</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></tr><tr><td>Gross sales, classified by denomination</td><td>42</td><td>39</td><td>36</td><td>45</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></tr><tr><td>Redemptions, classified by means of payment</td><td>42</td><td>39</td><td>36</td><td>45</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></tr><tr><td>Gross sales, classified by States</td><td>43</td><td>40</td><td>37</td><td>46</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></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 serise</td><td>44</td><td>41</td><td>38</td><td>47</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></tr><tr><td>Sales reported by series, classified by denomination</td><td>45</td><td>42</td><td>39</td><td>48</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></tr><tr><td>Sales reported by series, classified by type of purchaser</td><td>46</td><td>43</td><td>40</td><td>49</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></tr><tr><td>Redemptions by serise, classified by means of payment</td><td>47</td><td>44</td><td>41</td><td>50</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></tr><tr><td colspan="13">VI. Ownership of Government securities</td></tr><tr><td>Summary distribution, by holders, of securities issued or guaranteed by the United States</td><td>49</td><td>46</td><td>43</td><td>52</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></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937</td><td>49</td><td>46</td><td>43</td><td>52</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></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>42-47</td></tr><tr><td>March 31, 1942</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>45-50</td><td></td></tr><tr><td>April 30, 1942</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>44-49</td><td></td><td></td></tr><tr><td>May 31, 1942</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>47-52</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>44-49</td><td>44-49</td><td>46-51</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 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>August 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>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></td><td></td><td>53-58</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1942</td><td></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></tr><tr><td>December 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>January 31, 1943</td><td>47-52</td><td></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, 1943</td><td>50-55</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, April 1943
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="2">1943</th><th colspan="10">Issue and page number</th></tr><tr><th></th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th></tr><tr><td>VII. Prices and yields of Government securities (including securities issued by Federal agencies)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Over-the-counter closing quotations and price history for public marketable securities issued by the U. S. Government and by Federal agencies, as of:</td><td></td><td></td><td></td><td></td><td></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></tr><tr><td>The 15th of the month of publication.</td><td>57-59</td><td>54-56</td><td>51-53</td><td>60-62</td><td>51-53</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The month-end preceding month of publication.</td><td>60</td><td>57</td><td>54</td><td>63</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></tr><tr><td>Chart showing yields of individual issues of Treasury bonds and 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>Average yields of long-term Treasury bonds and high-grade corporate bonds:</td><td>61</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Discussion of composition of averages.</td><td></td><td></td><td></td><td>64-65</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></tr><tr><td>Yield beginning 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>January 1934.</td><td>62-63</td><td>58-59</td><td>55-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 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>VIII. Government corporations and credit agencies of the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets and liabilities and proprietary interests:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>56-57</td></tr><tr><td>March 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>59-60</td><td></td></tr><tr><td>April 30, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>58-59</td><td></td><td></td></tr><tr><td>May 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>59-60</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>61-62</td><td></td><td></td><td></td><td></td></tr><tr><td>July 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>60-61</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 31, 1942.</td><td></td><td></td><td></td><td></td><td>58-59</td><td></td><td>58-59</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1942.</td><td></td><td></td><td>58-59</td><td>67-68</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>November 30, 1942.</td><td></td><td>61-62</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1942.</td><td></td><td></td><td>58-59</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1943.</td><td>65-66</td><td></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, 1943.</td><td></td><td>61-62</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>67-68</td><td>63-64</td><td>60-61</td><td>69-70</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></tr><tr><td>From inception of organization.</td><td>63-70</td><td>65-66</td><td>62-63</td><td>71-72</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></tr><tr><td>Amount of obligations outstanding guaranteed by the United States, by agencies.</td><td>27</td><td>25</td><td>22</td><td>30</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></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></td><td></td><td></td><td></td><td>64</td><td>65</td><td>62</td></tr><tr><td>IX. Internal revenue statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Collections of internal revenue:</td><td></td><td></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>72-73</td><td>68-69</td><td>65-66</td><td>74-75</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></tr><tr><td>Comparative details for current period.</td><td>74</td><td>70</td><td>67</td><td>76</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></tr><tr><td>X. Gold and silver statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Gold assets and liabilities of the Treasury.</td><td>76</td><td>72</td><td>69</td><td>78</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></tr><tr><td>Increment from reduction in weight of gold dollar, cumulative to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>68</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>70</td><td></td><td></td></tr><tr><td>June 30, 1942.</td><td></td><td></td><td></td><td></td><td></td><td>69</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1942.</td><td></td><td>76</td><td></td><td>78</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 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>68</td></tr><tr><td>March 31, 1943.</td><td></td><td></td><td>69</td><td></td><td>69</td><td></td><td></td><td></td><td>70</td><td></td><td>71-72</td><td>68-69</td></tr><tr><td>Treasury gold receipts, for recent quarterly periods.</td><td>76</td><td>72</td><td>69</td><td>78</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></td></tr><tr><td>Monetary stocks of gold and silver.</td><td>77</td><td>73</td><td>70</td><td>79</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></tr><tr><td>Components of silver monetary stock.</td><td>77</td><td>73</td><td>70</td><td>79</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></tr><tr><td>Silver of specified classifications acquired by mint and assay offices.</td><td>78</td><td>74</td><td>71</td><td>80</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></tr><tr><td>Seigniorage on silver, by type.</td><td>78</td><td>74</td><td>71</td><td>80</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></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>XI. Other Treasury statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance sheet of the Exchange Stabilization Fund:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>75-76</td><td></td><td></td></tr><tr><td>March 31, 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>June 30, 1942.</td><td></td><td></td><td></td><td></td><td>76-77</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1942.</td><td>80-81</td><td></td><td>82-83</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 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>Capital movements between the United States and foreign countries.</td><td>82</td><td>76</td><td>73</td><td>84</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></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.
SPECIAL ARTICLES
2
Comparison of Various Features of Treasury Securities Offered to the Public
During the Second War Loan, April 1943
<table><tr><th rowspan="2">Feature</th><th colspan="3">United States savings bonds</th><th colspan="2">Treasury notes - tax series</th></tr><tr><th>Series E</th><th>Series F</th><th>Series G</th><th>Series A - 1945</th><th>Series C - 1945</th></tr><tr><td>Issue date</td><td>let of month in which payment is received</td><td>let of month in which payment is received</td><td>let of month in which payment is received</td><td>September 1, 1942</td><td>let of month in which payment is received</td></tr><tr><td>Maturity</td><td>10 years</td><td>12 years</td><td>12 years</td><td>September 1, 1945</td><td>3 years from issue date</td></tr><tr><td>Issue price</td><td>75</td><td>74</td><td>100</td><td>100 plus accrued interest</td><td>100</td></tr><tr><td>Maturity value</td><td>100</td><td>100</td><td>100</td><td>100 plus accrued interest if presented in payment of taxes; otherwise purchase price</td><td>100 plus accrued interest 1/</td></tr><tr><td>Interest</td><td>Accrues to provide approximately 2.9% compounded semi-annually if held to maturity; leaser yields if redeemed at earlier dates</td><td>Accrues to provide approximately 2.53% compounded semi-annually if held to maturity; leaser yields if re-deemed at earlier dates</td><td>2 1/4% per annum, paid semi-annually. Redemption values cut back below 100 to provide leaser yields if re-deemed before maturity; but redeemable at par in event of death</td><td>Accrues at rate of 16 cents monthly per $100 principal amount (approximately 1.92% per annum) if used for payment of taxes; otherwise none</td><td>Accrues to provide approximately 1.07% compounded semi-annually if held to maturity; leaser yields if redeemed for cash or tendered in payment of taxes at earlier dates 1/</td></tr><tr><td>Callability by Treasury</td><td>None</td><td>None</td><td>None</td><td>None</td><td>None</td></tr><tr><td>Redeemability by owner prior to maturity</td><td>At any time 60 days after issue date without notice at stated redemption values</td><td>On last of any month 6 months after issue date on 1 month's notice at stated redemption values</td><td>On last of any month 6 months after issue date on 1 month's notice at stated redemption values</td><td>At any time without notice at purchase price</td><td>At any time during and after the sixth month after issue on 30 days' notice at per plus accrued interest 1/</td></tr><tr><td>Negotiability</td><td>None</td><td>None</td><td>None</td><td>None 2/</td><td>None 2/</td></tr><tr><td>Eligibility as collateral for loans</td><td>None</td><td>None</td><td>None</td><td>None</td><td>May be pledged as collateral for loans from banking institutions</td></tr><tr><td>Bearer or registered</td><td>Registered only</td><td>Registered only</td><td>Registered only</td><td>3/</td><td>3/</td></tr><tr><td>Class of purchasers who may subscribe</td><td>Natural persons only</td><td>All except commercial banks 4/</td><td>All except commercial banks 4/</td><td>All</td><td>All</td></tr><tr><td>Limit on annual purchases</td><td>$5,000 maturity value ($3,750 issue price)</td><td>$100,000 issue price jointly with Series G</td><td>$100,000 issue price jointly with Series F</td><td>None. However, not more than $5,000 principal amount of Tax Series A (regardless of year purchased) may be paid on account of any one taxpayer's liability for each class of Federal taxes (income, estate, or gift) for any one tax period 5/</td><td>None</td></tr><tr><td>Minimum denomination</td><td>$25 maturity value ($18.75 issue price)</td><td>$25 maturity value ($18.50 issue price)</td><td>$100</td><td>$25</td><td>$1,000</td></tr><tr><td>Method of offering to nonbanking investors</td><td>On continuous sale</td><td>On continuous sale</td><td>On continuous sale</td><td>On continuous sale</td><td>On continuous sale</td></tr><tr><td>Method of offering to commercial banks 4/</td><td>Not offered</td><td>Not offered</td><td>Not offered</td><td>On continuous sale</td><td>On continuous sale</td></tr></table>
(Continued on following page)
3
Comparison of Various Features of Treasury Securities Offered to the Public During the Second War Loan, April 1943
Other securities offered during April 1943 6/
<table><tr><th>Feature</th><th colspan="4">Other securities offered during April 1943 6/</th></tr><tr><th></th><th>Treasury bills</th><th>7/8% certificates</th><th>2% bonds</th><th>2-1/2% bonds</th></tr><tr><td>Issue date</td><td>Weekly</td><td>April 15, 1943</td><td>April 15, 1943</td><td>April 15, 1943</td></tr><tr><td>Maturity</td><td>91 days</td><td>April 1, 1944</td><td>Sept. 15, 1952</td><td>June 15, 1969</td></tr><tr><td>Issue price</td><td>On discount basis at prices determined by competitive bidding</td><td>100 plus accrued interest</td><td>100 plus accrued interest 1/</td><td>100 plus accrued interest 1/</td></tr><tr><td>Maturity value</td><td>100</td><td>100</td><td>100</td><td>100</td></tr><tr><td>Interest</td><td>Accrues to par from discount price determined by competitive bidding</td><td>7/8% per annum payable semi-annually</td><td>2% per annum payable semi-annually</td><td>2-1/2% per annum payable semi-annually</td></tr><tr><td>Callability by Treasury</td><td>None</td><td>None</td><td>Sept. 15, 1950</td><td>June 15, 1964</td></tr><tr><td>Redeemability by owner prior to maturity</td><td>None</td><td>None</td><td>None</td><td>None, except that bonds owned by decedent at time of death are redeemable at par and accrued interest for the purpose of paying Federal estate taxes</td></tr><tr><td>Negotiability</td><td>Complete</td><td>Complete</td><td>Complete</td><td>Transferable, but commercial banks may not purchase until April 15, 1953 1/</td></tr><tr><td>Eligibility as collateral for loans</td><td>Complete</td><td>Complete</td><td>Complete</td><td>Complete</td></tr><tr><td>Bearer or registered</td><td>Bearer - no coupons attached</td><td>Bearer - coupons attached</td><td>Bearer - coupons attached, or registered</td><td>Bearer - coupons attached, or registered</td></tr><tr><td>Class of purchasers who may subscribe</td><td>All</td><td>All</td><td>All</td><td>All except commercial banks 1/</td></tr><tr><td>Limit on annual purchases</td><td>None</td><td>None</td><td>None</td><td>None</td></tr><tr><td>Minimum denomination</td><td>$1,000</td><td>$1,000</td><td>$500</td><td>$500</td></tr><tr><td>Method of offering to nonbanking investors</td><td>By request for tenders</td><td>By cash subscriptions allotted in full; books open April 12 until close of drive</td><td>By cash subscriptions allotted in full; books open April 12 until close of drive</td><td>By cash subscriptions allotted in full; books open April 12 until close of drive</td></tr><tr><td>Method of offering to commercial banks 1/</td><td>By request for tenders</td><td>By cash subscriptions allotted in full up to $100,000, with fractional allotment on larger subscriptions so that total allotments will equal about $2,000,000,000; books open April 12-14</td><td>By cash subscriptions allotted in full up to $100,000, with fractional allotment on larger subscriptions so that total allotments will equal about $2,000,000,000; books open April 28-30</td><td>Not offered</td></tr></table>
1/ If inscribed in the name of a bank accepting demand deposits, cash payment at or before maturity will be made only at par. However, if a note is acquired by any such bank through forfeiture of a loan, cash payment will be made at par plus accrued interest to the mont in which so acquired.
2/ The notes may be transferred by a corporation to its subsidiary providing that it owns at least 50 percent of the stock with voting power of such subsidiary.
3/ These notes are not registered but the name and address of the purchaser are inscribed thereon.
4/ A commercial bank is defined for the purposes of this table as one which accepts demand deposits.
5/ This limitation applies separately to husband and to wife on a joint return, and to an owner before death and to his estate for the balance of the same year.
6/ Excludes offering on April 20 (outside of the Second War Loan.) of a 7 1/2% one-year certificate of indebtedness, in exchange for securities maturing on May 1.
7/ On individual subscriptions of $1,000 or less, no accrued interest will be charged during the period of the drive.
4
INCREASE IN BANK DEPOSITS DURING 1942 BY COUNTIES
5
SUMMARY OF FISCAL STATISTICS
6
7
Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th></th><th colspan="4">First 9 months, fiscal years 1941 to 1943</th><th colspan="6">Complete fiscal years, 1940 to 1944</th></tr><tr><th></th><th>1941</th><th>1942</th><th>1943</th><th>Change 1942 to 1943</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>1944 2/</th><th>Actual 1942 to estimated 1943 1/</th><th>Change Estimated 1943 to estimated 1944 1/ 2/</th></tr><tr><td>Receipts:</td><td></td><td></td><td></td><td></td><td>Actual</td><td></td><td></td><td></td><td>Estimated 1/</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></tr><tr><td>Income and profits taxes 3/</td><td>2,415</td><td>5,322</td><td>10,349</td><td>+5,027</td><td>2,125</td><td>3,470</td><td>7,960</td><td>17,571</td><td>27,645</td><td>+9,611</td><td>+10,074</td></tr><tr><td>Employment taxes</td><td>587</td><td>881</td><td>1,111</td><td>+230</td><td>833</td><td>925</td><td>1,186</td><td>1,462</td><td>1,971</td><td>+276</td><td>+509</td></tr><tr><td>Miscellaneous internal revenue 4/</td><td>2,204</td><td>2,974</td><td>3,495</td><td>+521</td><td>2,345</td><td>2,967</td><td>3,847</td><td>4,516</td><td>4,936</td><td>+669</td><td>+420</td></tr><tr><td>Customs</td><td>263</td><td>299</td><td>222</td><td>-77</td><td>349</td><td>392</td><td>389</td><td>253</td><td>204</td><td>-136</td><td>-49</td></tr><tr><td>Other receipts</td><td>279</td><td>201</td><td>341</td><td>+140</td><td>273</td><td>515</td><td>286</td><td>751</td><td>651</td><td>+465</td><td>-100</td></tr><tr><td>Total receipts</td><td>5,848</td><td>9,678</td><td>15,519</td><td>+5,841</td><td>5,925</td><td>8,269</td><td>13,668</td><td>24,552</td><td>35,407</td><td>+10,884</td><td>+10,855</td></tr><tr><td>Less:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 5/</td><td>476</td><td>629</td><td>800</td><td>+171</td><td>538</td><td>661</td><td>869</td><td>1,076</td><td>1,525</td><td>+207</td><td>+449</td></tr><tr><td>Post-war credits for excess-profits tax, victory tax, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>500</td><td>800</td><td>+500</td><td>+300</td></tr><tr><td>Net receipts</td><td>5,372</td><td>9,049</td><td>14,719</td><td>+5,670</td><td>5,387</td><td>7,607</td><td>12,799</td><td>22,976</td><td>33,081</td><td>+10,177</td><td>+10,105</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></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></tr><tr><td>War Department</td><td>2,191</td><td>8,619</td><td>31,257</td><td>+22,638</td><td>667</td><td>3,678</td><td>14,070</td><td>44,000</td><td>62,000</td><td>+29,930</td><td>+18,000</td></tr><tr><td>Navy Department</td><td>1,465</td><td>4,863</td><td>13,556</td><td>+8,693</td><td>891</td><td>2,313</td><td>8,580</td><td>17,500</td><td>22,000</td><td>+8,920</td><td>+4,500</td></tr><tr><td>Miscellaneous war activities 7/</td><td>174</td><td>1,903</td><td>5,761</td><td>+3,858</td><td>99</td><td>310</td><td>3,362</td><td>12,500</td><td>13,000</td><td>+9,138</td><td>+500</td></tr><tr><td>Total war activities</td><td>3,830</td><td>15,385</td><td>50,574</td><td>+35,189</td><td>1,657</td><td>6,301</td><td>26,011</td><td>74,000</td><td>97,000</td><td>+47,989</td><td>+23,000</td></tr><tr><td>Veterans' Administration 8/</td><td>414</td><td>415</td><td>453</td><td>+38</td><td>557</td><td>563</td><td>556</td><td>617</td><td>885</td><td>+61</td><td>+268</td></tr><tr><td>Public Works 9/</td><td>593</td><td>517</td><td>444</td><td>-73</td><td>950</td><td>738</td><td>680</td><td>666</td><td>403</td><td>-14</td><td>-263</td></tr><tr><td>Aid to agriculture 10/</td><td>847</td><td>986</td><td>878</td><td>-108</td><td>1,559</td><td>937 11/</td><td>1,225</td><td>1,142</td><td>1,015</td><td>-83</td><td>-127</td></tr><tr><td>Social Security program 12/</td><td>476</td><td>511</td><td>588</td><td>+77</td><td>513</td><td>588</td><td>659</td><td>755</td><td>786</td><td>+96</td><td>+31</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></tr><tr><td>Work Projects Administration and National Youth Administration 13/</td><td>1,033</td><td>766</td><td>278</td><td>-488</td><td>1,572</td><td>1,374</td><td>970</td><td>300</td><td>-</td><td>-670</td><td>-300</td></tr><tr><td>Federal Emergency Relief Administration and Civil Works Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Civilian Conservation Corps</td><td>198</td><td>138</td><td>-3</td><td>-141</td><td>283</td><td>257</td><td>163</td><td>16</td><td>-</td><td>-147</td><td>-16</td></tr><tr><td>Interest on the public debt</td><td>686</td><td>774</td><td>1,068</td><td>+294</td><td>1,041</td><td>1,111</td><td>1,260</td><td>1,850</td><td>3,000</td><td>+590</td><td>+1,150</td></tr><tr><td>Other 14/</td><td>649</td><td>668</td><td>671</td><td>+3</td><td>866</td><td>841</td><td>873</td><td>1,086</td><td>1,935</td><td>+213</td><td>-51</td></tr><tr><td>Total expenditures 6/</td><td>8,726</td><td>20,160</td><td>54,951</td><td>+34,791</td><td>8,998</td><td>12,711</td><td>32,397</td><td>80,432</td><td>104,124</td><td>+48,035</td><td>+23,692</td></tr><tr><td>Net budget deficit 6/</td><td>3,354</td><td>11,112</td><td>40,232</td><td>+29,120</td><td>3,611</td><td>5,103</td><td>19,598</td><td>57,456</td><td>71,043</td><td>+37,858</td><td>+13,587</td></tr></table>
Sources: Daily Treasury Statements, except as noted.
1/ Estimates as shown in the 1944 Budget.
2/ Does not include proposal for $16,000,000,000 additional funds from new legislation for the fiscal year 1944.
3/ Includes unjust enrichment tax and victory tax.
4/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.
5/ For explanations, see tables in next chapter on Social Security program.
6/ Excludes expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
7/ Includes expenditures made by Office for Emergency Management, War Manpower Commission (U.S. Employment Service).
8/ 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. Excludes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under authority of the Social Security Act.
13/ Beginning July 1942 expenditures for National Youth Administration are shown under War activities.
14/ Includes departmental expenditures not otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
g
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="4">End of first 9 months, fiscal years 1941 to 1943</th><th colspan="8">End of fiscal years, 1940 to 1944</th></tr><tr><th>Mar. 31, 1941</th><th>Mar. 31, 1942</th><th>Mar. 31, 1943</th><th>Change Mar. 31, 1942 to Mar. 31, 1943</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1940</th><th>June 30, 1941</th><th>June 30, 1942</th><th>June 30, 1943</th><th>June 30, 1944</th><th>Actual June 30, 1942 to estimated June 30, 1943 1/</th><th>Estimated June 30, 1943 to estimated June 30, 1944 2/</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>37,054</td><td>43,329</td><td>79,662</td><td>+36,333</td><td>34,436</td><td>37,713</td><td>50,573</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable</td><td>3,844</td><td>11,278</td><td>24,622</td><td>+13,344</td><td>3,166</td><td>4,555</td><td>13,510</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total public issues</td><td>40,898</td><td>54,606</td><td>104,284</td><td>+49,678</td><td>37,602</td><td>42,267</td><td>64,083</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Special issues</td><td>5,683</td><td>7,333</td><td>10,004</td><td>+2,671</td><td>4,775</td><td>6,120</td><td>7,885</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>46,581</td><td>61,940</td><td>114,287</td><td>+52,347</td><td>42,376</td><td>48,387</td><td>71,968</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>592</td><td>480</td><td>1,219</td><td>+739</td><td>591</td><td>574</td><td>454</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total public debt outstanding</td><td>47,173</td><td>62,419</td><td>115,507</td><td>+53,088</td><td>42,968</td><td>48,961</td><td>72,422</td><td>134,830</td><td>210,549</td><td>+62,408</td><td>+75,719</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>5,905</td><td>5,666</td><td>4,272</td><td>-1,394</td><td>5,498</td><td>6,360</td><td>4,549</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable</td><td>-</td><td>-</td><td>78</td><td>+78</td><td>-</td><td>-</td><td>-</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>5,905</td><td>5,666</td><td>4,350</td><td>-1,316</td><td>5,498</td><td>6,360</td><td>4,549</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt</td><td>11</td><td>24</td><td>11</td><td>-13</td><td>31</td><td>11</td><td>20</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total guaranteed securities outstanding</td><td>5,916</td><td>5,690</td><td>4,360</td><td>-1,330</td><td>5,529</td><td>6,370</td><td>4,568</td><td>3,910</td><td>1,195</td><td>-658</td><td>-2,715</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>53,088</td><td>68,109</td><td>119,867</td><td>+51,758</td><td>48,496</td><td>55,332</td><td>76,991</td><td>138,740</td><td>211,745</td><td>+61,749</td><td>+73,005</td></tr></table>
Source: Daily Treasury Statement, except as noted. 1/ Based upon estimates as shown in the 1944 Budget. 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 rowspan="2"></th><th colspan="3">First 9 months, fiscal years 1941 to 1943</th><th colspan="5">Complete fiscal years, 1940 to 1944</th></tr><tr><th>1941</th><th>1942</th><th>1943</th><th>1940</th><th>Actual 1941</th><th>1942</th><th>Estimated 1/ 1943</th><th>1944</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>3,354</td><td>11,112</td><td>40,232</td><td>3,611</td><td>5,103</td><td>19,598</td><td>57,456</td><td>71,043</td></tr><tr><td>Net increase in General Fund balance</td><td>824</td><td>859</td><td>1,188</td><td>-</td><td>742</td><td>358</td><td>-</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, increment on gold, etc. 3/</td><td>27</td><td>1,487</td><td>1,664</td><td>-</td><td>148</td><td>3,506</td><td>5,053</td><td>4,739</td></tr><tr><td>Total amount required to be financed</td><td>4,205</td><td>13,458</td><td>43,084</td><td>3,611</td><td>5,994</td><td>23,461</td><td>62,510</td><td>75,782</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>4,205</td><td>13,458</td><td>43,084</td><td>2,528</td><td>5,994</td><td>23,461</td><td>62,408</td><td>75,719</td></tr><tr><td>Net decrease in General Fund balance</td><td>-</td><td>-</td><td>-</td><td>947</td><td>-</td><td>-</td><td>102</td><td>63</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/</td><td>-</td><td>-</td><td>-</td><td>136</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed</td><td>4,205</td><td>13,458</td><td>43,084</td><td>3,611</td><td>5,994</td><td>23,461</td><td>62,510</td><td>75,782</td></tr></table>
Source: Daily Treasury Steterente. 1/ Based upon estimates as shown in the 1944 Budget. 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, esigniorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
9
10
Appropriations and Net Contract Authorizations for the War Activities Program
As of March 31, 1943
<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">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 Defense 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 (refugee 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>$ 1,859,717,416 r 4/</td></tr><tr><td>Sept. 9, 1940</td><td>781</td><td>Second Supplemental National Defense Appropriation Act, 1941</td><td>2,497,016,392</td><td>-</td></tr><tr><td>Sept.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 Defense 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 colspan="3">Total, 76th Congress, Third Session</td><td>$ 8,994,015,828</td><td>$ 1,859,717,416 r</td></tr><tr><td colspan="5">77th Congress, First Session</td></tr><tr><td>Jan. 31, 1941</td><td>4</td><td>Public Law (naval expansion program)</td><td>-</td><td>$ 400,000,000 4/</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>-</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>58,000,000 4/</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>-</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, 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)</td><td>5,985,000,000</td><td>600,000,000 5/</td></tr><tr><td>Dec. 17, 1941</td><td>353</td><td>(Title II)</td><td>159,005,585</td><td>-</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Third Supplemental National Defense Appropriation Act, 1942</td><td>9,112,021,947</td><td>100,150,000 r</td></tr><tr><td colspan="3">Total, 77th Congress, First Session</td><td>$ 49,396,437,450</td><td>$ 1,158,150,000 r</td></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 6/</td><td>23,738,865,474</td><td>$ 4,100,000,000 r 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>135,203,321</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>1,375,206,072 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>40,400,000 r</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 7/</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>1,052,512,004</td><td>90,000,000</td></tr><tr><td>July 2, 1942</td><td>644</td><td>Department of Justice, State and Commerce Appropriation Act, 1943</td><td>261,908,180</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>227,726,804</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>676,334,000 r</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943 8/</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>$139,736,203,988</td><td>$19,014,440,072 r</td></tr></table>
(Continued on following page)
11
Appropriations and Net Contract Authorizations for the War Activities Program As of March 31, 1943 (Continued)
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorizations 2/</th></tr><tr><td colspan="5">78th Congress, First Session</td></tr><tr><td>Mar. 2, 1943<br>Mar. 18, 1943<br>Mar. 31, 1943</td><td>3<br>11<br>20</td><td>Urgent Deficiency Appropriation Act, 1943.<br>First Deficiency Appropriation Act, 1943.<br>Supplemental Naval Appropriation Act, 1943.</td><td>$ 21,160,000<br>4,062,748,984 9/<br>3,836,176,119 10/<br>$ 7,920,085,103</td><td>$ 2,173,719,515<br>449,740,400<br>$ 2,623,459,945</td></tr><tr><td colspan="3">Total, 78th Congress, First Session.</td><td>$ 7,920,085,103</td><td>$ 2,623,459,945</td></tr><tr><td colspan="5">Pending 11/</td></tr><tr><td></td><td></td><td>War Department Civil Appropriation Bill, 1944.<br>Independent Offices Appropriation Bill, 1944.<br>Farm Labor Appropriation Bill, 1943.</td><td>$ 833,483<br>1,395,013,569<br>26,100,000<br>$ 1,421,947,052 13/</td><td>$-1,377,780,000 12/<br>$-1,377,780,000 12/</td></tr><tr><td colspan="3">Total pending, 78th Congress, First Session.</td><td>$ 1,421,947,052 13/</td><td>$-1,377,780,000 12/</td></tr><tr><td colspan="5">Summary</td></tr><tr><td></td><td></td><td>Total, 76th Congress, Third Session.</td><td>$ 8,994,015,828</td><td>$ 1,859,717,416 r</td></tr><tr><td></td><td></td><td>Total, 77th Congress, First Session.</td><td>$ 49,395,437,450</td><td>$ 1,158,150,000 r</td></tr><tr><td></td><td></td><td>Total, 77th Congress, Second Session.</td><td>$ 139,736,203,988</td><td>$ 19,014,440,072 r</td></tr><tr><td></td><td></td><td>Total, 78th Congress, First Session.</td><td>$ 7,920,085,103</td><td>$ 2,623,459,945</td></tr><tr><td></td><td></td><td>Permanent appropriations and net transfers from other than war activities appropriations 14/.</td><td>$ 102,084,504</td><td>$ -</td></tr><tr><td></td><td></td><td>Total approved.</td><td>$206,148,826,873</td><td>$24,655,767,433</td></tr><tr><td></td><td></td><td>Total pending, 78th Congress, First Session.</td><td>$ 1,421,947,052</td><td>$-1,377,780,000 12/</td></tr><tr><td></td><td></td><td>Liquidations of 1940 and prior contract authorizations.</td><td>$-467,872,846</td><td>$ -</td></tr><tr><td></td><td></td><td>Total approved and pending.</td><td>$207,102,901,079</td><td>$23,277,987,433</td></tr></table>
1/ Consists of appropriations and net contract authorizations available on and after July 1, 1940. Excludes: (1) authorizations of the Reconstruction Finance Corporation and its subsidiaries for war purposes, and (2) unexpended balances of appropriations on June 30, 1940 available for expenditure in the fiscal year 1941.
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. 757....................(Estimated) $1,859,717,416
4.................... 400,000,000
13.................... 58,000,000
441.................... 4,100,000,000
626....................(Estimated) 2,962,500,000
763....................(Estimated) 9,510,000,000
$18,890,217,416
5/ Represents the net amount of contractual authority that the President may authorize the head of any department or agency of the Government to enter into for the procurement of defense articles, information or services for the government of any country whose defense the President deems vital to the defense of the United States.
6/ Includes $9,693,525,500 appropriated for the fiscal year 1942.
1/ Includes $650,000 for the fiscal year 1941 and $209,440,000 for the fiscal year 1943, of which $440,000 was made immediately available.
8/ Includes $7,851,460 appropriated for the fiscal year 1942.
9/ Includes $963,719,545 for liquidation of prior contract authorizations, and $3,076,280,455 for liquidation of contracts made available in this act.
10/ Includes $1,225,300,000 for the liquidation of prior contract authorizations.
11/ Pending appropriations, as used herein, represent war legislation reported from the Committee on Appropriations to the floor of the House.
12/ Represents pending liquidations of contract authorizations.
13/ In addition, Public Law 19, approved March 26, 1943, authorizes the appropriation of $1,256,607,000 for naval public works.
14/ 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 $1,153,802 in accordance with Executive Order 9083, dated February 28, 1942. Also includes $2,641,560 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 $32,284,626, and deposits of $3,918,500 to compensate owners of foreign merchant vessels acquired by the Government of the United States in accordance with section 902 of the Merchant Marine Act of 1936.
12
Budget Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="4">Receipts</th><th>Less net amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 4/</th><th>Net receipts</th><th colspan="5">Expenditures 1/</th><th>Net budget deficit 8/</th><th>Public debt retirements 9/</th></tr><tr><th></th><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs 3/</th><th>Other receipts</th><th></th><th></th><th>Total expenditure</th><th>General 5/</th><th>War activities 6/</th><th>Revolving funds (net) 1/</th><th>Transfers to trust accounts, etc. 1/</th><th></th><th></th></tr><tr><td>1933</td><td>2,080</td><td>1,604</td><td>251</td><td>225</td><td>10/</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>54</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>1942-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</td><td>4,498</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</td><td>4,884</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>5,481</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><tr><td>December</td><td>2,702</td><td>2,649</td><td>24</td><td>28</td><td>1</td><td>2,701</td><td>6,500</td><td>654</td><td>5,825</td><td>-4</td><td>25</td><td>3,799</td><td>1</td></tr><tr><td>1943-January</td><td>824</td><td>724</td><td>25</td><td>75</td><td>35</td><td>788</td><td>6,372</td><td>391</td><td>5,947</td><td>*</td><td>35</td><td>5,584</td><td>*</td></tr><tr><td>February</td><td>1,190</td><td>1,075</td><td>26</td><td>89</td><td>235</td><td>955</td><td>6,119</td><td>346</td><td>5,770</td><td>1</td><td>2</td><td>5,164</td><td>*</td></tr><tr><td>March</td><td>5,207</td><td>5,154</td><td>32</td><td>21</td><td>1</td><td>5,206</td><td>7,354</td><td>601</td><td>6,744</td><td>7</td><td>1</td><td>2,147</td><td>*</td></tr></table>
Source: Daily Treasury Statements.
* Lese 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 Reconstruction Finance Corporation) - $125 millions; retirement of Treasury investment in Federal savings and loan association shares - $10 millions; sale to Reconstruction Finance Corporation of bonds held by Public Works Administration - $9 millions. 12/ Receipts from capital stock and paid-in surplus reductions that are available to be reissued under existing law are not refiled under receipts, but rather are included as negative items under expenditures. During the fiscal year 1941, reductions in capital in this manner were as follows: Under general expenditures: Banks for cooperatives - $60 millions, and Federal land banks - $100 millions; under revolving funds: Federal Farm Mortgage Corporation - $100 millions, Federal intermediate credit banks - $40 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>Fiscal year or month</th><th>Total</th><th>Income and profits 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>3,647</td><td>-</td></tr><tr><td>1942-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>36</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><tr><td>December</td><td>2,649</td><td>1,972</td><td>47</td><td>4</td><td>1</td><td>43</td><td>630</td><td>-</td></tr><tr><td>1943-January</td><td>724</td><td>306</td><td>52</td><td>37</td><td>14</td><td>1</td><td>365</td><td>-</td></tr><tr><td>February</td><td>1,075</td><td>380</td><td>343</td><td>237</td><td>99</td><td>7</td><td>352</td><td>-</td></tr><tr><td>March</td><td>5,154</td><td>4,732</td><td>48</td><td>3</td><td>3</td><td>42</td><td>374</td><td>-</td></tr></table>
Source: Daily Treasury Statements. 
1/ For further details, see chapter on Internal Revenue Statistics. 
2/ Includes unjust enrichment tax and victory tax.
3/ For the period prior to September 1939, the data in the columns entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
4/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes and estate tax.
13
Budget Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Veterans' Administration 1/</th><th>Public Works 2/</th><th>Aid to agriculture 3/</th><th>Social Security program 4/</th><th colspan="2">Direct and work relief</th><th>Civilian Conservation Corps</th><th>Interest on the public debt</th><th>Other departmental 1/</th><th>Other general expenditures 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>799</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>666</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>290</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>944</td><td>220</td></tr><tr><td>1942-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>52</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</td><td>47</td><td>54</td><td>74</td><td>80</td><td>54</td><td>-</td><td>7</td><td>35</td><td>43</td><td>19</td></tr><tr><td>August</td><td>312</td><td>47</td><td>58</td><td>47</td><td>43</td><td>43</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</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>15</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><tr><td>December</td><td>654</td><td>47</td><td>52</td><td>89</td><td>34</td><td>23</td><td>-</td><td>-18</td><td>353</td><td>49</td><td>22</td></tr><tr><td>1943-January</td><td>331</td><td>47</td><td>36</td><td>111</td><td>56</td><td>24</td><td>-</td><td>2</td><td>54</td><td>43</td><td>17</td></tr><tr><td>February</td><td>346</td><td>48</td><td>45</td><td>111</td><td>26</td><td>19</td><td>-</td><td>*</td><td>35</td><td>45</td><td>18</td></tr><tr><td>March</td><td>601</td><td>49</td><td>49</td><td>127</td><td>38</td><td>16</td><td>-</td><td>*</td><td>262</td><td>50</td><td>10</td></tr></table>
Source: Daily Treasury Statements.
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 and excludes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under authority of Social Security Act. 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 Administration 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 associations. Also includes expenditures for capital stock of the Federal Deposit Insurance Corporation, Home Owners' Loan Corporation, Federal home loan banks, and Disaster Loan Corporation. The Federal contributions to the District of Columbia (United States share) have been transferred to the classification "Transfers to trust accounts, etc.".
9/ Gross 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>Miscellaneous war activities</th><th>United States 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>-</td><td>29</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>531</td><td>243</td><td>297</td><td>-10</td><td>-</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>639</td><td>273</td><td>436</td><td>-21</td><td>-</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>-</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>-</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>-</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>-</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1940</td><td>1,657</td><td>651</td><td>891</td><td>99</td><td>-</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</td><td>-</td><td>45</td><td>18</td><td>24</td><td>51</td><td>-</td><td>-</td><td>-</td><td>108</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</td><td>62</td><td>237</td><td>33</td><td>519</td><td>929</td><td>132</td><td>200</td><td>382</td></tr><tr><td>1942-March</td><td>2,809</td><td>1,432</td><td>946</td><td>430</td><td>105</td><td>8</td><td>10</td><td>18</td><td>3</td><td>63</td><td>121</td><td>16</td><td>-</td><td>86</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</td><td>14</td><td>22</td><td>3</td><td>63</td><td>98</td><td>42</td><td>200</td><td>29</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</td><td>10</td><td>17</td><td>4</td><td>83</td><td>130</td><td>33</td><td>-</td><td>37</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</td><td>8</td><td>21</td><td>4</td><td>99</td><td>150</td><td>39</td><td>-</td><td>66</td></tr><tr><td>July</td><td>4,498</td><td>2,861</td><td>1,103</td><td>534</td><td>90</td><td>28</td><td>12</td><td>26</td><td>4</td><td>95</td><td>184</td><td>54</td><td>-</td><td>42</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</td><td>17</td><td>42</td><td>4</td><td>110</td><td>211</td><td>99</td><td>-</td><td>76</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</td><td>13</td><td>45</td><td>5</td><td>102</td><td>141</td><td>113</td><td>-</td><td>56</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</td><td>17</td><td>48</td><td>3</td><td>110</td><td>46</td><td>111</td><td>-</td><td>60</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><tr><td>December</td><td>5,825</td><td>3,770</td><td>1,380</td><td>676</td><td>21</td><td>6</td><td>19</td><td>50</td><td>5</td><td>83</td><td>275</td><td>127</td><td>-</td><td>88</td></tr><tr><td>1943-January</td><td>5,547</td><td>4,053</td><td>1,274</td><td>620</td><td>18</td><td>17</td><td>17</td><td>44</td><td>3</td><td>95</td><td>331</td><td>77</td><td>-</td><td>18</td></tr><tr><td>February</td><td>5,770</td><td>3,239</td><td>2,002</td><td>528</td><td>12</td><td>12</td><td>12</td><td>39</td><td>5</td><td>79</td><td>223</td><td>68</td><td>20</td><td>59</td></tr><tr><td>March</td><td>6,744</td><td>3,985</td><td>2,053</td><td>705</td><td>17</td><td>-</td><td>17</td><td>55</td><td>5</td><td>103</td><td>285</td><td>103</td><td>20</td><td>98</td></tr></table>
Source: Dally Treasury Statements.
1/ Less than $500,000.
1/2/ Includes Selective Service administrative expenses.
2/ Includes war public housing functions.
3/ Includes emergency ship construction, beginning March 1941.
Similar items for periods prior to fiscal year 1941 are classified under Other departmental and Other general expenditures in Table 3. Includes expenditures of Civil Aeronautics Administration, Panama Canal, and Office for Emergency Management, War Manpower Commission (U. S. Employment Service).
14
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 fund (O. S. share)</th><th>Agricultural Marketing Administration (surplus commodity stamps)</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</td><td>6/</td><td>23</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>1942-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>*</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>*</td><td>1</td><td>*</td><td>-</td><td>-</td><td>-</td><td>*</td><td>-</td></tr><tr><td>June</td><td>*</td><td>*</td><td>*</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>July</td><td>*</td><td>*</td><td>*</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>*</td><td>*</td><td>*</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>*</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>*</td><td>*</td><td>*</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>*</td><td>3</td><td>2</td><td>-</td><td>-</td><td>*</td><td>-</td></tr><tr><td>December</td><td>-4</td><td>-2</td><td>-2</td><td>25</td><td>2</td><td>-</td><td>-</td><td>23</td><td>-</td></tr><tr><td>1943-January</td><td>*</td><td>-1</td><td>1</td><td>35</td><td>1</td><td>34</td><td>-</td><td>*</td><td>-</td></tr><tr><td>February</td><td>1</td><td>-1</td><td>2</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>March</td><td>7</td><td>8</td><td>*</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</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 activities. 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 1934
(In millions of dollars)
<table><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Total</th></tr><tr><td>Net budget receipts 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1934</td><td>211</td><td>206</td><td>420</td><td>182</td><td>237</td><td>391</td><td>218</td><td>286</td><td>449</td><td>260</td><td>247</td><td>385</td><td>3,492</td></tr><tr><td>1935</td><td>203</td><td>214</td><td>601</td><td>228</td><td>246</td><td>664</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>4,378</td></tr><tr><td>1937</td><td>239</td><td>230</td><td>967</td><td>318</td><td>290</td><td>828</td><td>367</td><td>412</td><td>747</td><td>292</td><td>286</td><td>823</td><td>5,798</td></tr><tr><td>1938</td><td>294</td><td>308</td><td>916</td><td>262</td><td>373</td><td>774</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,650</td></tr><tr><td>1939</td><td>271</td><td>367</td><td>687</td><td>213</td><td>347</td><td>557</td><td>265</td><td>372</td><td>676</td><td>279</td><td>364</td><td>521</td><td>4,918</td></tr><tr><td>1940</td><td>315</td><td>444</td><td>799</td><td>304</td><td>400</td><td>649</td><td>331</td><td>447</td><td>711</td><td>333</td><td>362</td><td>740</td><td>5,834</td></tr><tr><td>1941</td><td>340</td><td>541</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>413</td><td>397</td><td>1,135</td><td>445</td><td>564</td><td>1,212</td><td>8,849</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>2,701</td><td>16,403</td></tr><tr><td>1943</td><td>788</td><td>955</td><td>5,206</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 expenditures 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>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>5,931</td><td>5,937</td><td>6,363</td><td>6,500</td><td>56,020</td></tr><tr><td>1943</td><td>6,372</td><td>6,119</td><td>7,354</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 budget deficit 3/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1934</td><td>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>2,447</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>1,871</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>5,761</td><td>3,799</td><td>39,618</td></tr><tr><td>1943</td><td>5,584</td><td>5,164</td><td>2,147</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Source: Daily Treasury Statements. 1/ Total receipts less net amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund.
2/ Excludes public debt retirements.
3/ Total expenditures less net receipts
25
BUDGET RECEIPTS AND EXPENDITURES
16
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="2">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="2">Unemployment Trust Fund</th><th colspan="2">Railroad Retirement Account</th><th colspan="2">Other trust accounts 1/</th></tr><tr><th></th><th></th><th>Net Receipts</th><th>Expenditures</th><th>Net Receipts</th><th>Expenditures</th><th>Net Receipts</th><th>Expenditures</th><th>Net 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>-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>+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>+64</td><td>301</td><td>337</td></tr><tr><td>1936</td><td>+34</td><td>-</td><td>-</td><td>-</td><td>19</td><td>19</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>+20</td><td>858</td><td>838</td></tr><tr><td>1938</td><td>+11</td><td>+1</td><td>402</td><td>401</td><td>+12</td><td>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>331</td></tr><tr><td>1941</td><td>+37</td><td>+10</td><td>717</td><td>707</td><td>-1</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>1,244</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>1942-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>+17</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>33</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>41</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>-1</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><tr><td>December</td><td>-290</td><td>-273</td><td>2</td><td>274</td><td>-36</td><td>73</td><td>109</td><td>*</td><td>*</td><td>*</td><td>+19</td><td>66</td><td>48</td></tr><tr><td>1943-January</td><td>+24</td><td>+33</td><td>35</td><td>2</td><td>-2</td><td>40</td><td>42</td><td>*</td><td>34</td><td>34</td><td>-3</td><td>66</td><td>74</td></tr><tr><td>February</td><td>+222</td><td>+236</td><td>235</td><td>*</td><td>-2</td><td>262</td><td>264</td><td>-1</td><td>*</td><td>1</td><td>-11</td><td>47</td><td>58</td></tr><tr><td>March</td><td>-260</td><td>-272</td><td>2</td><td>274</td><td>+1</td><td>34</td><td>33</td><td>*</td><td>*</td><td>*</td><td>+11</td><td>82</td><td>71</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 rowspan="2">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>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>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>-734</td><td>3/</td><td>3/</td><td>+811</td><td>2,811</td><td>2,000</td><td>+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>2</td><td>113</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>1</td><td>404</td><td>+40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+314</td><td>3/</td><td>3/</td><td>-99</td><td>2</td><td>101</td><td>+40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+204</td><td>3/</td><td>3/</td><td>-51</td><td>1</td><td>52</td><td>+90</td><td>90</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>+768</td><td>+1,106</td><td>-337</td><td>-5</td><td>*</td><td>5</td><td>+90</td><td>90</td><td>-</td><td>+2</td><td>*</td><td>-2</td></tr><tr><td>1940</td><td>+34</td><td>+288</td><td>-254</td><td>*</td><td>*</td><td>*</td><td>+49</td><td>49</td><td>-</td><td>+16</td><td>43</td><td>27</td></tr><tr><td>1941</td><td>-217</td><td>+852</td><td>-1,069</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>1942</td><td>-3,625</td><td>-1,809</td><td>-1,815</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-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>-430</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><tr><td>December</td><td>-548</td><td>-5</td><td>-543</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+14</td><td>33</td><td>-11</td></tr><tr><td>1943-January</td><td>-186</td><td>-8</td><td>-178</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+27</td><td>8</td><td>-19</td></tr><tr><td>February</td><td>-370</td><td>-25</td><td>-345</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+26</td><td>5</td><td>-21</td></tr><tr><td>March</td><td>-300</td><td>-11</td><td>-289</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+11</td><td>*</td><td>-11</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 PWA revolving fund, and special deposits (net). Also includes Agricultural Marketing Administration commodity food stamp transactions.
3/ Details not available.
17
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>19,558</td><td>358</td><td>3,506</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1942-March</td><td>108</td><td>-1263/</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><tr><td>December</td><td>12,054</td><td>3,799</td><td>7,461</td><td>794</td><td>12,054</td><td>12,054</td><td>-</td><td>-</td></tr><tr><td>1943-January</td><td>5,719</td><td>5,584</td><td>-</td><td>135</td><td>5,719</td><td>2,899</td><td>2,819</td><td>-</td></tr><tr><td>February</td><td>5,286</td><td>5,164</td><td>-</td><td>122</td><td>5,286</td><td>2,954</td><td>2,331</td><td>-</td></tr><tr><td>March</td><td>2,696</td><td>2,147</td><td>-</td><td>549</td><td>2,696</td><td>1,483</td><td>1,213</td><td>-</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.
18
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">Less amounts credited to Federal Old-Age and Survivors Insurance Trust Fund 3/</th><th rowspan="2">Net receipts</th></tr><tr><th>Total</th><th>Federal Insurance Contributions Act (Old-age insurance) 1/</th><th>Federal Unemployment Tax Act (Unemployment insurance) 2/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>252.2</td><td>194.3</td><td>57.8</td><td>255.0</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>690.5</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>868.9</td><td>146.7</td></tr><tr><td>1942-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>11.8</td></tr><tr><td>December</td><td>4.5</td><td>3.5</td><td>1.0</td><td>1.0</td><td>3.5</td></tr><tr><td>1943-January</td><td>50.7</td><td>37.1</td><td>13.5</td><td>35.3</td><td>15.4</td></tr><tr><td>February</td><td>335.8</td><td>236.7</td><td>99.0</td><td>234.9</td><td>100.9</td></tr><tr><td>March</td><td>6.1</td><td>2.9</td><td>3.2</td><td>1.0</td><td>5.1</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="9">Grants to States</th><th rowspan="2">Refunds of taxee</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>Department of Labor Services for crippled children</th><th>Child welfare services</th><th>Office for Emergency Management War Manpower Commission (U. S. Employment Service)</th></tr><tr><td>1936</td><td>28.1</td><td>.6</td><td>27.8</td><td>19.7</td><td>2.0</td><td>1.0</td><td>.9</td><td>2.1</td><td>1.0</td><td>.6</td><td>.2</td><td>-</td><td>28.1</td></tr><tr><td>1937</td><td>182.7</td><td>15.8</td><td>166.9</td><td>124.8</td><td>14.3</td><td>4.6</td><td>9.1</td><td>7.8</td><td>3.1</td><td>2.1</td><td>1.0</td><td>-</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>41.06/</td><td>115.1</td></tr><tr><td>1939</td><td>343.7</td><td>21.3</td><td>320.3</td><td>208.2</td><td>31.0</td><td>5.7</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>58.7</td><td>9.1</td><td>4.8</td><td>3.7</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>504.1</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.7</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>1942-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>-</td><td>.3</td><td>73.7</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>-</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>-</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>-</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>-</td><td>.2</td><td>27.7</td></tr><tr><td>December</td><td>34.8</td><td>2.7</td><td>31.9</td><td>24.9</td><td>2.7</td><td>.4</td><td>2.0</td><td>-</td><td>.5</td><td>.2</td><td>-</td><td>1.3</td><td>.2</td><td>31.4</td></tr><tr><td>1943-January</td><td>58.9</td><td>2.6</td><td>56.1</td><td>30.9</td><td>6.9</td><td>.9</td><td>10.8</td><td>2.3</td><td>.6</td><td>.3</td><td>.3</td><td>3.1</td><td>.2</td><td>43.5</td></tr><tr><td>February</td><td>29.3</td><td>2.8</td><td>26.3</td><td>16.4</td><td>4.4</td><td>.4</td><td>.2</td><td>-</td><td>.6</td><td>.5</td><td>.1</td><td>3.8</td><td>.2</td><td>-71.6</td></tr><tr><td>March</td><td>43.4</td><td>3.3</td><td>39.9</td><td>27.2</td><td>3.2</td><td>.8</td><td>1.7</td><td>.1</td><td>.2</td><td>.1</td><td>-</td><td>6.5</td><td>.2</td><td>38.3</td></tr></table>
Daily Treasury Statements.
1/ Less than $50,000.
2/ Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See Table 3 of Section 1).
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 1.
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-Feyser Act. Exclude 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 for making refund to certain States of portions of Federal employee' tax for 1936 collected under the Social Security Act.
19
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>2.5</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>1942-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><tr><td>December</td><td>42.8</td><td>.4</td><td>.4</td><td>-</td><td>*</td><td>-42.4</td></tr><tr><td>1943-January</td><td>1.1</td><td>34.5</td><td>.5</td><td>34.0</td><td>-</td><td>33.4</td></tr><tr><td>February</td><td>7.4</td><td>.5</td><td>.5</td><td>-</td><td>*</td><td>-6.9</td></tr><tr><td>March</td><td>41.8</td><td>.4</td><td>.4</td><td>-</td><td>*</td><td>-41.3</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>Total</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>1942-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><tr><td>December</td><td>2.5</td><td>.2</td><td>.2</td><td>-</td><td>-2.3</td></tr><tr><td>1943-January</td><td>•</td><td>.1</td><td>.1</td><td>-</td><td>.1</td></tr><tr><td>February</td><td>.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>March</td><td>2.5</td><td>.2</td><td>.2</td><td>-</td><td>-2.3</td></tr></table>
Source: Daily Treasury Statements.
1/ Less than $50,000.
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 employees 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.
20
Social Security Program - (Continued)
Section II.- Statements of Trust Accounts
Table 1. Federal Old-Age and Survivors Insurance Trust Fund
(Cumulative from organisation - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total expenditures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expenses 2/</th><th>Total investments</th><th>Unexpended balance In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>267.3</td><td>265.0</td><td>2.3</td><td>*</td><td>*</td><td>-</td><td>267.2</td><td>267.1</td><td>.1</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>1.1</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>.5</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td></tr><tr><td>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></tr><tr><td>1942-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></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></tr><tr><td>December</td><td>4,047.7</td><td>3,831.8</td><td>215.9</td><td>359.6</td><td>279.3</td><td>80.3</td><td>3,688.1</td><td>3,655.4</td><td>5.3</td></tr><tr><td>1943-January</td><td>4,085.0</td><td>3,868.9</td><td>216.1</td><td>373.8</td><td>291.7</td><td>82.1</td><td>3,711.2</td><td>3,645.4</td><td>40.8</td></tr><tr><td>February</td><td>4,322.0</td><td>4,105.7</td><td>216.3</td><td>388.2</td><td>304.3</td><td>83.9</td><td>3,933.8</td><td>3,632.4</td><td>276.0</td></tr><tr><td>March</td><td>4,325.8</td><td>4,108.5</td><td>217.3</td><td>403.6</td><td>317.9</td><td>85.7</td><td>3,922.2</td><td>3,893.0</td><td>4.4</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>24.8</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 Act
(Cumulative from organisation - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th>Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Benefit payments</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th colspan="2"></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>46.6</td><td>46.6</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>*</td></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.8</td><td>68.1</td><td>66.2</td><td>.2</td><td>1.6</td></tr><tr><td>1939</td><td>268.4</td><td>264.8</td><td>3.6</td><td>185.6</td><td>82.7</td><td>67.2</td><td>13.2</td><td>2.3</td></tr><tr><td>1940</td><td>390.8</td><td>384.9</td><td>5.9</td><td>28.7</td><td>92.1</td><td>79.4</td><td>10.8</td><td>1.8</td></tr><tr><td>1941</td><td>506.9</td><td>498.5</td><td>8.4</td><td>419.9</td><td>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1942</td><td>650.9</td><td>639.4</td><td>11.6</td><td>546.1</td><td>104.8</td><td>91.5</td><td>1.6</td><td>11.7</td></tr><tr><td>1942-October</td><td>865.9</td><td>854.2</td><td>11.8</td><td>589.2</td><td>276.7</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>266.2</td><td>185.0</td><td>68.8</td><td>12.3</td></tr><tr><td>December</td><td>866.2</td><td>854.2</td><td>12.1</td><td>610.7</td><td>255.6</td><td>174.0</td><td>68.9</td><td>12.7</td></tr><tr><td>1943-January</td><td>866.4</td><td>854.2</td><td>12.3</td><td>621.5</td><td>244.9</td><td>197.0</td><td>34.9</td><td>13.0</td></tr><tr><td>February</td><td>866.6</td><td>854.2</td><td>12.5</td><td>632.3</td><td>234.3</td><td>187.0</td><td>34.9</td><td>12.4</td></tr><tr><td>March</td><td>866.9</td><td>854.2</td><td>12.7</td><td>643.4</td><td>223.4</td><td>176.0</td><td>34.9</td><td>12.5</td></tr></table>
Source: Daily Treasury Statements. * Less than $50,000.
Table 3.- Unemployment Trust Fund
(Cumulative from organisation - 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>Transfers from Railroad Unemployment Administration Fund 2/</th><th>Interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Transfers to Railroad Unemployment Insurance Account 3/</th><th>Railroad Unemployment Insurance Account 1/ Benefit payments</th><th>Total</th><th>Investments</th><th>Unexpended balance In General Fund (Special Deposit Account)</th><th>In dis-bursing officer's account 5/</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>18.9</td><td>18.9</td><td>*</td><td>-</td></tr><tr><td>1937</td><td>313.4</td><td>310.6</td><td>-</td><td>-</td><td>2.8</td><td>1.0</td><td>1.0</td><td>-</td><td>-</td><td>312.4</td><td>312.3</td><td>1.1</td><td>-</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>-</td><td>864.2</td><td>872.0</td><td>12.2</td><td>-</td></tr><tr><td>1939</td><td>1,914.3</td><td>1,869.5</td><td>-</td><td>-</td><td>44.8</td><td>633.8</td><td>633.8</td><td>-</td><td>-</td><td>1,280.5</td><td>1,267.0</td><td>13.5</td><td>-</td></tr><tr><td>1940</td><td>2,857.9</td><td>2,729.3</td><td>44.2</td><td>1.8</td><td>82.6</td><td>1,133.1</td><td>1,116.7</td><td>1.8</td><td>14.6</td><td>1,724.9</td><td>1,710.0</td><td>13.4</td><td>1.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>105.9</td><td>7.5</td><td>1,688.2</td><td>1,550.0</td><td>105.9</td><td>32.3</td><td>2,283.7</td><td>2,273.0</td><td>8.0</td><td>2.7</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>2,065.4</td><td>1,918.0</td><td>105.9</td><td>41.4</td><td>3,150.1</td><td>3,139.0</td><td>7.8</td><td>3.3</td></tr><tr><td>1942-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>2,165.0</td><td>2,016.9</td><td>105.9</td><td>42.2</td><td>3,404.7</td><td>3,397.2</td><td>5.0</td><td>2.6</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>2,176.7</td><td>2,028.4</td><td>105.9</td><td>42.3</td><td>3,635.5</td><td>3,588.2</td><td>44.9</td><td>2.4</td></tr><tr><td>December</td><td>5,885.1</td><td>5,298.3</td><td>226.6</td><td>105.9</td><td>17.4</td><td>2,187.1</td><td>2,038.7</td><td>105.9</td><td>42.5</td><td>3,698.0</td><td>3,687.0</td><td>8.7</td><td>2.3</td></tr><tr><td>1943-January</td><td>5,925.1</td><td>5,338.3</td><td>226.7</td><td>105.9</td><td>17.4</td><td>2,198.8</td><td>2,050.3</td><td>105.9</td><td>42.7</td><td>3,786.3</td><td>3,717.0</td><td>7.2</td><td>2.1</td></tr><tr><td>February</td><td>6,187.5</td><td>5,599.5</td><td>227.8</td><td>105.9</td><td>17.4</td><td>2,210.2</td><td>2,061.5</td><td>105.9</td><td>42.8</td><td>3,977.3</td><td>3,970.0</td><td>5.3</td><td>1.9</td></tr><tr><td>March</td><td>6,221.4</td><td>5,610.7</td><td>250.5</td><td>105.9</td><td>17.4</td><td>2,221.4</td><td>2,072.5</td><td>105.9</td><td>43.0</td><td>4,000.0</td><td>3,992.0</td><td>6.3</td><td>1.7</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 I, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939 inclusive, from employees and employees who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
21
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th></th><th colspan="10">1942</th><th colspan="4">1943</th></tr><tr><th></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>Jan.</th><th>Feb.</th><th>Mar.</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>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><td>1,972</td><td>306</td><td>380</td><td>4,732</td></tr><tr><td>Employment taxes</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><td>47</td><td>52</td><td>343</td><td>48</td></tr><tr><td>Miscellaneous internal revenue</td><td>304</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><td>630</td><td>365</td><td>352</td><td>374</td></tr><tr><td>Customs</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><td>24</td><td>25</td><td>26</td><td>32</td></tr><tr><td>Other</td><td>22</td><td>16</td><td>26</td><td>24</td><td>19</td><td>25</td><td>22</td><td>20</td><td>21</td><td>25</td><td>58</td><td>89</td><td>21</td></tr><tr><td>Subtotal</td><td>3,548</td><td>732</td><td>754</td><td>2,476</td><td>755</td><td>756</td><td>2,518</td><td>648</td><td>829</td><td>2,699</td><td>806</td><td>1,190</td><td>5,207</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 (deposite by States and Railroad Retirement Board)</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><td>35</td><td>40</td><td>262</td><td>34</td></tr><tr><td>Trust accounts 2/</td><td>58</td><td>54</td><td>52</td><td>55</td><td>56</td><td>49</td><td>74</td><td>72</td><td>62</td><td>72</td><td>72</td><td>50</td><td>78</td></tr><tr><td>Subtotal</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><td>108</td><td>113</td><td>313</td><td>112</td></tr><tr><td>Total cash income</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>893</td><td>1,062</td><td>2,621</td><td>770</td><td>1,133</td><td>2,806</td><td>919</td><td>1,502</td><td>5,319</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>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><td>5,825</td><td>5,947</td><td>5,770</td><td>6,744</td></tr><tr><td>Veterans' Administration</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><td>47</td><td>47</td><td>48</td><td>49</td></tr><tr><td>Public Works 3/</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><td>50</td><td>37</td><td>47</td><td>49</td></tr><tr><td>Aid to agriculture 4/</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><td>87</td><td>110</td><td>110</td><td>135</td></tr><tr><td>Social Security program 5/</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><td>34</td><td>56</td><td>25</td><td>38</td></tr><tr><td>Work Projects Administration and National Youth Administration 6/</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><td>28</td><td>24</td><td>19</td><td>16</td></tr><tr><td>Civilian Conservation Corps</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><td>-18</td><td>2</td><td>*</td><td>*</td></tr><tr><td>Interest on the public debt 7/</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><td>299</td><td>35</td><td>24</td><td>247</td></tr><tr><td>Other</td><td>65</td><td>68</td><td>62</td><td>74</td><td>65</td><td>62</td><td>64</td><td>60</td><td>56</td><td>71</td><td>60</td><td>63</td><td>60</td></tr><tr><td>Subtotal</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><td>6,422</td><td>6,318</td><td>6,106</td><td>7,337</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>58</td><td>289</td><td>345</td><td>338</td><td>214</td><td>350</td></tr><tr><td>Other</td><td>253</td><td>208</td><td>249</td><td>284</td><td>110</td><td>235</td><td>42</td><td>166</td><td>-260</td><td>-13</td><td>-7</td><td>-12</td><td>-25</td></tr><tr><td>Commodity Credit Corporation</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>-305</td><td>182</td><td>115</td><td>124</td><td>124</td></tr><tr><td>Unemployment Trust Fund</td><td>46</td><td>38</td><td>33</td><td>29</td><td>32</td><td>30</td><td>23</td><td>16</td><td>12</td><td>10</td><td>12</td><td>11</td><td>11</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>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><td>12</td><td>12</td><td>13</td><td>14</td></tr><tr><td>Railroad Retirement Account</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><td>11</td><td>11</td><td>11</td><td>11</td></tr><tr><td>Other</td><td>-3</td><td>*</td><td>-34</td><td>14</td><td>-16</td><td>-27</td><td>-51</td><td>-46</td><td>-164</td><td>32</td><td>-278</td><td>-46</td><td>-146</td></tr><tr><td>Subtotal</td><td>218</td><td>275</td><td>522</td><td>379</td><td>170</td><td>350</td><td>74</td><td>330</td><td>-405</td><td>574</td><td>203</td><td>315</td><td>309</td></tr><tr><td>Redemption of adjusted service bonds</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><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Total cash outgo</td><td>3,608</td><td>3,973</td><td>4,470</td><td>4,738</td><td>5,067</td><td>5,538</td><td>5,989</td><td>6,203</td><td>5,949</td><td>6,996</td><td>6,521</td><td>6,422</td><td>7,647</td></tr><tr><td>EXCESS OF CASH OUTGO</td><td>-27</td><td>3,144</td><td>3,434</td><td>2,179</td><td>4,175</td><td>4,476</td><td>3,368</td><td>5,434</td><td>4,815</td><td>4,190</td><td>5,603</td><td>4,929</td><td>2,328</td></tr></table>
r Revised.
* Less than $500,000.
1/ These figures are not intended to reflect the budgetary position of the Government, and will not agree with budgetary figures on receipts, expenditures and deficit such as those appearing in the Daily Treasury Statement and in other tables in the "Treasury Bulletin". For an explanation of the revisions made in Daily Treasury Statement figures to arrive at this cash series, see the "Treasury Bulletin", February 1939.
2/ Includes sale of commodity food stamps. Agricultural Marketing Administration.
3/ Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority, river and harbor work and flood control, Tennessee Valley Authority, forest roads and trails, and reclamation projects.
4/ Comprises Agricultural Conservation and Adjustment Administration, Agricultural Marketing Administration, Commodity Credit Corporation, Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Farm Security Administration, Farm Tenant Act, Rural Electrification Administration, and Department of Agriculture departmental expenditures. Excludes Agricultural Marketing Administration, reflected on Daily Treasury Statement as transfer to trust accounts.
5/ Excludes transactions under transfers to trust accounts, etc.
6/ Beginning July 1942 National Youth Administration is included in war activities expenditures.
7/ Excludes accrued interest on United States savings bonds outstanding.
8/ Expenditures for war activities by the Reconstruction Finance Corporation prior to October 17, 1942, were included under "Other" Reconstruction Finance Corporation expenditures.
Total Cash Income and Outgo, by Months
(In millions of dollars)
<table><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Total</th></tr><tr><td>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>1938</td><td>395</td><td>460</td><td>1,038</td><td>313</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>641</td><td>369</td><td>589</td><td>752</td><td>339</td><td>567</td><td>625</td><td>6,551</td></tr><tr><td>1940</td><td>398</td><td>614</td><td>989</td><td>335</td><td>561</td><td>781</td><td>449</td><td>724</td><td>756</td><td>458</td><td>656</td><td>793</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>10,899</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>893r</td><td>1,062</td><td>2,621</td><td>770</td><td>1,133r</td><td>2,806</td><td>19,257r</td></tr><tr><td>1943</td><td>919</td><td>1,502</td><td>5,329</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>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>852</td><td>793</td><td>691</td><td>866</td><td>806</td><td>870</td><td>832</td><td>976</td><td>952</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>2,139</td><td>1,973</td><td>2,778</td><td>20,341</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>5,067r</td><td>5,538</td><td>5,989</td><td>6,203r</td><td>5,949</td><td>6,996r</td><td>57,959</td></tr><tr><td>1943</td><td>6,521r</td><td>6,422</td><td>7,647</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>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>2,148</td></tr><tr><td>1941</td><td>704</td><td>426</td><td>-85</td><td>935</td><td>585</td><td>219</td><td>940</td><td>882</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>3,434</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><td>4,190r</td><td>38,701r</td></tr><tr><td>1943</td><td>5,603</td><td>4,919</td><td>2,328</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>
r Revised.
22
CASH INCOME AND OUTGO OF THE TREASURY
GENERAL FUND OF THE TREASURY
23
24
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 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>337</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>1942-March</td><td>3,857</td><td>890</td><td>525</td><td>2,321</td><td>211</td></tr><tr><td>April</td><td>3,216</td><td>889</td><td>522</td><td>1,579</td><td>286</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>2,421</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><tr><td>December</td><td>11,032</td><td>863</td><td>1,516</td><td>8,166</td><td>487</td></tr><tr><td>1943-January</td><td>8,200</td><td>857</td><td>465</td><td>6,367</td><td>511</td></tr><tr><td>February</td><td>5,895</td><td>872</td><td>623</td><td>3,892</td><td>509</td></tr><tr><td>March</td><td>4,758</td><td>871</td><td>643</td><td>2,694</td><td>550</td></tr></table>
Source: Daily Treasury Statements
Balance in the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total assets</th><th>Total liabilities</th><th>Balance in the General Fund</th><th colspan="3">Analysis of balance in the General Fund 1/</th></tr><tr><th></th><th></th><th></th><th></th><th>Working balance</th><th>Seigniorage on silver</th><th>Increment on gold</th></tr><tr><td>1933</td><td>1,103</td><td>240</td><td>862</td><td>862</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>3,033</td><td>451</td><td>2,582</td><td>1,771</td><td>-</td><td>811</td></tr><tr><td>1935</td><td>2,016</td><td>175</td><td>1,841</td><td>1,001</td><td>140</td><td>700</td></tr><tr><td>1936</td><td>2,936</td><td>254</td><td>2,682</td><td>2,069</td><td>316</td><td>297</td></tr><tr><td>1937</td><td>2,709</td><td>156</td><td>2,553</td><td>2,000</td><td>356</td><td>198</td></tr><tr><td>1938</td><td>2,419</td><td>203</td><td>2,216</td><td>1,622</td><td>446</td><td>147</td></tr><tr><td>1939</td><td>3,087</td><td>248</td><td>2,838</td><td>2,160</td><td>536</td><td>142</td></tr><tr><td>1940</td><td>2,038</td><td>147</td><td>1,891</td><td>1,163</td><td>585</td><td>143</td></tr><tr><td>1941</td><td>2,812</td><td>179</td><td>2,633</td><td>1,885</td><td>605</td><td>143</td></tr><tr><td>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>1942-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><tr><td>December</td><td>11,032</td><td>489</td><td>10,543</td><td>9,780</td><td>619</td><td>144</td></tr><tr><td>1943-January</td><td>8,200</td><td>477</td><td>7,724</td><td>6,961</td><td>619</td><td>144</td></tr><tr><td>February</td><td>5,895</td><td>503</td><td>5,392</td><td>4,630</td><td>619</td><td>144</td></tr><tr><td>March</td><td>4,758</td><td>579</td><td>4,179</td><td>3,416</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.
25
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</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 account 3/</th><th>Miscellaneous funds and accounts 4/</th><th>Checking accounts of Government agencies, etc.</th><th></th><th></th></tr><tr><td>1933</td><td>445</td><td>445</td><td>-1,784</td><td>3,052</td><td>-5</td><td>-</td><td>-818</td><td>-</td><td>-</td></tr><tr><td>1934</td><td>1,720</td><td>908</td><td>-2,896</td><td>4,514</td><td>24</td><td>-</td><td>-734</td><td>-</td><td>811</td></tr><tr><td>1935</td><td>-741</td><td>-769 6/</td><td>-3,209</td><td>1,739 1/</td><td>64</td><td>-</td><td>637</td><td>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>314</td><td>40</td><td>-99</td></tr><tr><td>1938</td><td>-338</td><td>-377</td><td>-1,384</td><td>792 1/</td><td>11</td><td>-</td><td>204</td><td>90</td><td>-51</td></tr><tr><td>1939</td><td>622</td><td>537</td><td>-3,542</td><td>3,280 1/</td><td>29</td><td>2</td><td>768</td><td>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>1942-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>-1,628</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><tr><td>December</td><td>7,461</td><td>7,461</td><td>-3,799</td><td>12,054</td><td>-290</td><td>44</td><td>-548</td><td>-</td><td>-</td></tr><tr><td>1943-January</td><td>-2,819</td><td>-2,819</td><td>-5,584</td><td>2,899</td><td>24</td><td>27</td><td>-186</td><td>-</td><td>-</td></tr><tr><td>February</td><td>-2,331</td><td>-2,331</td><td>-5,104</td><td>2,954</td><td>222</td><td>26</td><td>-370</td><td>-</td><td>-</td></tr><tr><td>March</td><td>-1,213</td><td>-1,213</td><td>-2,147</td><td>1,483</td><td>-260</td><td>11</td><td>-300</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
1/ Less than $500,000.
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.
In the fiscal years 1935 and 1936, $91 millions and $554 millions were transferred from increment on gold to the working balance for retirement of national bank notes. In this statement, however, charges for retirement of national bank notes are reflected directly against increment on gold, in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance general and special accounts for the purpose of this table.
Expenditures for the retirement of national bank notes from increment on gold for the fiscal years 1935 to 1939 (as shown below) are not reflected herein, but are reflected under increment on gold as follows: 1935 - $91 millions, 1936 - $397 millions, 1937 - $99 millions, 1938 - $51 millions, and 1939 - $5 millions, total - $645 millions. The increases in the public debt shown in the table Means of Financing Cash Requirements for the above fiscal years will not agree for the reason stated above.
PUBLIC DEBT OUTSTANDING
- 26 -
27
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>Jan.</th><th>Feb.</th><th>Mar.</th></tr><tr><td colspan="13">Securities issued by the United States</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></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury title.</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>7,423</td><td>8,232</td><td>9,234</td></tr><tr><td>Certificate 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>3,096</td><td>10,741</td><td>11,161</td><td>11,161</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>9,863</td><td>9,863</td><td>9,797</td></tr><tr><td>Treasury bonds.</td><td>5,216</td><td>9,333</td><td>12,684</td><td>17,168</td><td>19,336</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>38,085</td><td>49,273</td><td>49,273</td><td>49,273</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>77,496</td><td>78,726</td><td>79,662</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></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>16,246</td><td>17,067</td><td>17,891</td></tr><tr><td>Treasury notes - tax series.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,015</td><td>6,749</td><td>7,125</td><td>6,346</td></tr><tr><td>Adjusted service bonds.</td><td>-</td><td>-</td><td>-</td><td>945</td><td>389</td><td>319</td><td>283</td><td>261</td><td>241</td><td>229</td><td>224</td><td>224</td><td>223</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>137</td><td>144</td><td>162</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>23,356</td><td>24,560</td><td>24,622</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>100,852</td><td>103,286</td><td>104,284</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></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>19</td><td>19</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>55</td><td>90</td><td>95</td><td>95</td><td>155</td><td>178</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>3,452</td><td>3,439</td><td>3,700</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>7</td><td>7</td><td>7</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>530</td><td>533</td><td>539</td></tr><tr><td>Government Retirement Funds.</td><td>231</td><td>243</td><td>253</td><td>280</td><td>316</td><td>396</td><td>473</td><td>559</td><td>656</td><td>796</td><td>969</td><td>978</td><td>991</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>170</td><td>198</td><td>233</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>107</td><td>169</td><td>260</td></tr><tr><td>Railroad Retirement Account.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>66</td><td>67</td><td>79</td><td>74</td><td>92</td><td>197</td><td>187</td><td>176</td></tr><tr><td>Unemployment Trust Fund.</td><td>-</td><td>-</td><td>-</td><td>19</td><td>312</td><td>872</td><td>1,267</td><td>1,710</td><td>2,273</td><td>3,114</td><td>3,627</td><td>3,880</td><td>3,902</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>9,172</td><td>9,565</td><td>10,004</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>110,024</td><td>112,851</td><td>114,287</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>75</td><td>80</td><td>89</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></tr><tr><td>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>225</td><td>224</td><td>226</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>549</td><td>672</td><td>708</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>356</td><td>970</td><td>1,093</td><td>1,130</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>111,069</td><td>114,024</td><td>115,507</td></tr><tr><td colspan="13">Securities guaranteed by the United States 1/</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></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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>312</td><td>1,226</td><td>1,422</td><td>1,422</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></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>22</td><td>23</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>2,647</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>1,563</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>896</td><td>896</td><td>971</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>4,196</td><td>4,196</td><td>4,272</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></tr><tr><td>Commodity Credit Corporation 2/.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>81</td><td>79</td><td>78</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>4,277</td><td>4,275</td><td>4,350</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>14</td><td>12</td><td>11</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>4,291</td><td>4,287</td><td>4,360</td></tr><tr><td colspan="13">Total public debt and guaranteed obligations 1/</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>114,301</td><td>117,126</td><td>118,637</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>1,060</td><td>1,185</td><td>1,230</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>115,361</td><td>118,311</td><td>119,857</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Exclude guaranteed securities which were sold directly to the Treasury. Consists only of securities guaranteed by the United States as to both principal and interest.
2/ Demand obligations.
28
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>4,585</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>32,989</td><td>18,628</td><td>11,381</td><td>2,394</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>3,770</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>1942-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>8,265</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>12.6</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><tr><td>December</td><td>107,308</td><td>64,868</td><td>16,217</td><td>17,161</td><td>9,032</td><td>100.0</td><td>60.5</td><td>15.1</td><td>16.0</td><td>8.4</td></tr><tr><td>1943-January</td><td>110,024</td><td>66,076</td><td>16,612</td><td>18,163</td><td>9,172</td><td>100.0</td><td>60.1</td><td>15.1</td><td>16.5</td><td>8.3</td></tr><tr><td>February</td><td>112,851</td><td>66,905</td><td>16,988</td><td>19,393</td><td>9,565</td><td>100.0</td><td>59.2</td><td>15.1</td><td>17.2</td><td>8.5</td></tr><tr><td>March</td><td>114,287</td><td>67,745</td><td>16,143</td><td>20,396</td><td>10,004</td><td>100.0</td><td>59.3</td><td>14.1</td><td>17.8</td><td>8.8</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>Exchanges</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>6,045.4</td><td>6,354.6</td><td>4,158.5</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>1,647.8</td></tr><tr><td>1936</td><td>14,120.8</td><td>8,958.0</td><td>1,668.8</td><td>2,978.2</td><td>515.9</td><td>9,043.2</td><td>5,542.0</td><td>2,978.2</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>567.0</td><td>2,646.1</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>11,652.8</td><td>5,815.6</td><td>3,141.6</td><td>2,695.6</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>1942-March</td><td>1,593.4</td><td>1,403.0</td><td>1.1</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>1.1</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>1.1</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>1.1</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>3,851.8</td></tr><tr><td>July</td><td>5,277.0</td><td>5,008.4</td><td>1.1</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>1.1</td><td>-</td><td>193.7</td><td>1,029.3</td><td>973.2</td><td>-</td><td>56.1</td><td>4,549.0</td></tr><tr><td>September</td><td>8,168.4</td><td>7,829.7</td><td>1.1</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>1.1</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>1.1</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><tr><td>December</td><td>15,643.1</td><td>15,369.8</td><td>1.1</td><td>-</td><td>273.2</td><td>3,589.0</td><td>3,560.3</td><td>-</td><td>28.7</td><td>12,054.1</td></tr><tr><td>1943-January</td><td>5,078.1</td><td>4,898.4</td><td>1.1</td><td>-</td><td>179.7</td><td>2,178.7</td><td>2,139.8</td><td>-</td><td>38.9</td><td>2,899.4</td></tr><tr><td>February</td><td>6,982.6</td><td>6,566.5</td><td>1.1</td><td>-</td><td>416.0</td><td>4,028.2</td><td>4,005.1</td><td>-</td><td>23.0</td><td>2,954.4</td></tr><tr><td>March</td><td>20,501.6</td><td>20,033.8</td><td>1.1</td><td>-</td><td>467.7</td><td>19,018.6</td><td>18,989.1</td><td>-</td><td>29.5</td><td>1,483.0</td></tr></table>
Source: Daily Treasury Statements
* Less than $50,000.
COMPOSITION OF UNITED STATES GOVERNMENT INTEREST-BEARING PUBLIC DEBT
AND GUARANTEED OBLIGATIONS
29
30
Statement of the Debt Position of the United States Government under Limitations
Imposed by Section 21 of the Second Liberty Bond Act, as amended
As of March 31, 1943
<table><tr><td>Total face amount which may be outstanding at any one time.</td><td>$125,000,000,000</td></tr><tr><td>Face amount outstanding as of March 31, 1943:</td><td></td></tr><tr><td>Interest-bearing securities</td><td></td></tr><tr><td>Bonds</td><td></td></tr><tr><td>Treasury.</td><td>$49,273,465,650</td></tr><tr><td>Savings (maturity value) 1/.</td><td>21,987,015,500</td></tr><tr><td>Depositary.</td><td>152,061,000</td></tr><tr><td>Adjusted Service.</td><td>723,378,807</td></tr><tr><td>Total bonds.</td><td>$72,145,920,957</td></tr><tr><td>Treasury notes.</td><td>21,725,677,950</td></tr><tr><td>Certificates of indebtedness.</td><td>15,081,672,000</td></tr><tr><td>Treasury bills (maturity value).</td><td>9,234,428,000</td></tr><tr><td>Total interest-bearing securities.</td><td>$118,187,698,907</td></tr><tr><td>Matured obligations on which interest has ceased.</td><td>80,625,700</td></tr><tr><td>Debt bearing no interest (United States savings stamps).</td><td>226,215,830</td></tr><tr><td>Total face amount of securities outstanding.</td><td>118,494,540,437</td></tr><tr><td>Total amount of authorization unused as of March 31, 1943.</td><td>$ 6,505,459,563</td></tr></table>
1/ Approximate maturity value. The current redemption value of United States savings bonds amounted to $17,890,700,839 on March 31, 1943.
Reconciliation of the Debt Position under Section 21 of the Second Liberty Bond Act, as amended,
With the Gross Public Debt of the United States as Shown in the Daily Treasury Statement
As of March 31, 1943
<table><tr><td>Gross public debt outstanding.</td><td></td><td>$115,506,655,063</td></tr><tr><td>Total face amount of securities outstanding limited by Section 21 of the Second Liberty Bond Act, as amended.</td><td>$118,494,540,437</td><td></td></tr><tr><td>Less: Unearned discount on savings bonds (difference between maturity value and current redemption value).</td><td>4,096,314,661</td><td>$114,398,225,776</td></tr><tr><td colspan="3">Add: Securities outstanding not subject to limitation under Section 21:</td></tr><tr><td>Interest-bearing securities.</td><td>$ 195,960,420</td><td></td></tr><tr><td>Matured obligations on which interest has ceased.</td><td>8,373,100</td><td></td></tr><tr><td>Debt bearing no interest.</td><td>904,095,767</td><td>1,108,429,287</td></tr><tr><td>Gross public debt outstanding.</td><td></td><td>$115,506,655,063</td></tr></table>
31
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>1.861</td></tr><tr><td>1942-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>1.861</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>1,796</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><tr><td>December</td><td>111,591</td><td>2,291</td><td>2.053</td><td>107,308</td><td>2,210</td><td>2.059</td><td>4,283</td><td>82</td><td>1.905</td></tr><tr><td>1943-January</td><td>114,301</td><td>2,336</td><td>2.044</td><td>110,024</td><td>2,254</td><td>2.049</td><td>4,277</td><td>82</td><td>1.907</td></tr><tr><td>February</td><td>117,126</td><td>2,383</td><td>2.035</td><td>112,851</td><td>2,302</td><td>2.040</td><td>4,275</td><td>82</td><td>1.908</td></tr><tr><td>March</td><td>118,637</td><td>2,416</td><td>2.037</td><td>114,287</td><td>2,334</td><td>2.042</td><td>4,350</td><td>82</td><td>1.893</td></tr></table>
Source: Daily Treasury Statements. 1/ Treasury bills are included in interest-bearing debt figures at face amount, but for the purpose of calculating the computed annual interest charge and the computed rate of interest the discount value is used. For the purposes of computing the annual interest charge and rate of interest on United States
2/ savings bonds, Series A-II 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.
32
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of March 31, 1943
(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>1943</td><td>Treasury bill</td><td>3/4%</td><td>9,234</td><td></td><td></td><td></td></tr><tr><td>May</td><td>CCC note F - 5/1/43</td><td>.65%</td><td>289</td><td></td><td></td><td></td></tr><tr><td>June</td><td>Certificates of indebtedness C - 5/1/43</td><td>1-1/8%</td><td>1,506</td><td></td><td></td><td></td></tr><tr><td>June</td><td>Treasury note A - 6/15/43</td><td>3-3/8%</td><td>629</td><td></td><td></td><td></td></tr><tr><td>July</td><td>Treasury bond - 6/15/43-47</td><td>1-1/8%</td><td>454</td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>RFC note V - 7/15/43</td><td>7/8%</td><td>324</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>Certificates of indebtedness B - 8/1/43</td><td>1%</td><td>1,609</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>Treasury note C - 9/15/43</td><td>3-1/4%</td><td>279</td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>Treasury bond - 10/15/43-45</td><td>7/8%</td><td></td><td>1,401</td><td></td><td></td></tr><tr><td>Dec.</td><td>Certificates of indebtedness D - 11/1/43</td><td>7/8%</td><td>2,035</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>Certificates of indebtedness E - 12/1/43</td><td>1-1/8%</td><td>3,800</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>Treasury note B - 12/15/43</td><td></td><td>421</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>20,582</td><td>1,401</td><td>21,983</td><td>20,582</td></tr><tr><td>1944</td><td>PFIA note B - 2/1/44</td><td>1-3/8%</td><td>114</td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>Certificates of indebtedness A - 2/1/44</td><td>7/8%</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Treasury note A - 3/15/44</td><td>1%</td><td>2,211</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>FTMC bond B - 3/15/44-64</td><td>3-1/4%</td><td>515</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>RFC note W - 4/15/44</td><td>1%</td><td>571</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>Treasury bond - 4/15/44-46</td><td>3-1/4%</td><td></td><td>1,519</td><td></td><td></td></tr><tr><td>May</td><td>HOLC bond A - 5/1/44-52</td><td>3%</td><td></td><td>779</td><td></td><td></td></tr><tr><td>May</td><td>FTMC bond - 5/15/44-49</td><td>3%</td><td>835</td><td></td><td></td><td></td></tr><tr><td>June</td><td>Treasury note A - 6/15/44</td><td>3/4%</td><td>416</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>Treasury note C - 9/15/44</td><td>1%</td><td>283</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>Treasury note D (Nat. Defense Series) - 9/15/44-54</td><td>3/4%</td><td>635</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>Treasury bond - 12/15/44-54</td><td>4%</td><td></td><td>1,037</td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>4,745</td><td>4,264</td><td>9,009</td><td>4,745</td></tr><tr><td>1945-Jan.</td><td>RFC note X-A - 1/1/45</td><td>1%</td><td>75</td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>CCC note G - 2/15/45</td><td>1-1/8%</td><td>412</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Treasury note A - 3/15/45</td><td>3/4%</td><td>718</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Treasury note C - 3/15/45</td><td>1-1/4%</td><td>1,606</td><td></td><td></td><td></td></tr><tr><td>June</td><td>HOLC bond M - 6/1/45-47</td><td>1-1/2%</td><td></td><td>755</td><td></td><td></td></tr><tr><td>Sept.</td><td>Treasury bond - 9/15/45-47</td><td>2-3/4%</td><td></td><td>1,214</td><td></td><td></td></tr><tr><td>Oct.</td><td>Treasury bond - 10/15/45-45</td><td>3-1/4%</td><td></td><td></td><td>1,401</td><td></td></tr><tr><td>Dec.</td><td>Treasury bond - 12/15/45</td><td>2-1/2%</td><td>541</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>Treasury note B (Nat. Defense Series) - 12/15/45</td><td>3/4%</td><td>531</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>3,883</td><td>1,969</td><td>5,852</td><td>5,284</td></tr><tr><td>1946-Jan.</td><td>Conversion bond - 1/1/46</td><td>3%</td><td>16</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Treasury note A - 3/15/46</td><td>1%</td><td>503</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>Treasury bond - 3/15/46-56</td><td>3-3/4%</td><td></td><td>489</td><td></td><td></td></tr><tr><td>Apr.</td><td>Treasury bond - 4/15/46-46</td><td>3-1/4%</td><td></td><td>1,519</td><td></td><td></td></tr><tr><td>June</td><
(Continued on following page)
33
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of March 31, 1943 - (Continued)
(in millions of dollars)
<table><tr><th>Year and month</th><th colspan="2">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></th><th>Fixed-maturity issuee</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></th><th>First call</th><th>Final maturity</th><th></th><th></th></tr><tr><td>1951-Mar....</td><td>2-3/4%</td><td>Treasury bond - 3/15/48-51</td><td>.....</td><td>.....</td><td>1,223</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2%</td><td>Treasury bond - 6/15/49-51</td><td>.....</td><td>1,627</td><td>1,014</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-3/4%</td><td>Treasury bond - 6/15/51-54</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>3%</td><td>Treasury bond - 9/15/49-51</td><td>.....</td><td>.....</td><td>1,292</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>3%</td><td>Treasury bond - 9/15/51-55</td><td>.....</td><td>755</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2-1/4%</td><td>Treasury bond - 12/15/51-53</td><td>.....</td><td>1,118</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2%</td><td>Treasury bond - 12/15/51-55</td><td>.....</td><td>510</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2%</td><td>Treasury bond - 12/15/49/51</td><td>.....</td><td>.....</td><td>2,098</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Treasury bond - 3/15/52-54</td><td>.....</td><td>1,024</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Mar....</td><td>2%</td><td>Treasury bond - 3/15/50-52</td><td>.....</td><td>.....</td><td>1,963</td><td>.....</td><td>.....</td></tr><tr><td>May....</td><td>3%</td><td>HOLC bond A - 5/1/44-52</td><td>.....</td><td>.....</td><td>779</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-1/4%</td><td>Treasury bond - 6/15/52-55</td><td>.....</td><td>1,501</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>2-1/2%</td><td>Treasury bond - 9/15/50-52</td><td>.....</td><td>.....</td><td>1,186</td><td>.....</td><td>.....</td></tr><tr><td>Oct....</td><td>4-1/4%</td><td>Treasury bond - 10/15/47-52</td><td>.....</td><td>.....</td><td>759</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>3-1/3%</td><td>Treasury bond - 12/15/49-52</td><td>.....</td><td>.....</td><td>491</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total....</td><td>.....</td><td>.....</td><td>2,524</td><td>5,178</td><td>2,524</td><td>5,178</td></tr><tr><td>1953-June....</td><td>2%</td><td>Treasury bond - 6/15/53-55</td><td>.....</td><td>725</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2-1/2%</td><td>Treasury bond - 12/15/49-53</td><td>.....</td><td>.....</td><td>1,786</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2-1/4%</td><td>Treasury bond - 12/15/51-53</td><td>.....</td><td>.....</td><td>1,118</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Treasury bond - 3/15/52-54</td><td>.....</td><td>.....</td><td>1,024</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-3/4%</td><td>Treasury bond - 6/15/51-54</td><td>.....</td><td>.....</td><td>1,627</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-1/4%</td><td>Treasury bond - 6/15/54-56</td><td>.....</td><td>681</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>4%</td><td>Treasury bond - 12/15/44-54</td><td>.....</td><td>.....</td><td>1,037</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Treasury bond - 3/15/55-60</td><td>.....</td><td>2,611</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-1/4%</td><td>Treasury bond - 6/15/52-55</td><td>.....</td><td>.....</td><td>1,501</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2%</td><td>Treasury bond - 6/15/53-55</td><td>.....</td><td>.....</td><td>725</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>3%</td><td>Treasury bond - 9/15/51-55</td><td>.....</td><td>.....</td><td>755</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2%</td><td>Treasury bond - 12/15/51-55</td><td>.....</td><td>.....</td><td>510</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Treasury bond - 3/15/46-56</td><td>.....</td><td>.....</td><td>489</td><td>.....</td><td>.....</td></tr><tr><td>Mar....</td><td>2-1/2%</td><td>Treasury bond - 3/15/56-58</td><td>.....</td><td>1,449</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-1/4%</td><td>Treasury bond - 6/15/54-56</td><td>.....</td><td>.....</td><td>631</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>2-3/4%</td><td>Treasury bond - 9/15/56-59</td><td>.....</td><td>982</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><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><td>.....</td></tr><tr><td>1958-Mar....</td><td>2-1/2%</td><td>Treasury bond - 3/15/56-58</td><td>.....</td><td>.....</td><td>1,449</td><td>.....</td><td>.....</td></tr><tr><td>June....</td><td>2-3/4%</td><td>Treasury bond - 6/15/58-63</td><td>.....</td><td>919</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Treasury bond - 9/15/56-59</td><td>.....</td><td>.....</td><td>982</td><td>.....</td><td>.....</td></tr><tr><td>1960-Mar....</td><td>2-7/8%</td><td>Treasury bond - 3/15/55-60</td><td>.....</td><td>.....</td><td>2,611</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2-3/4%</td><td>Treasury bond - 12/15/60-65</td><td>.....</td><td>1,485</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><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%</td><td>Panama Canal bond - 6/1/61</td><td>.....</td><td>50</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>1962-June....</td><td>2-1/2%</td><td>Treasury bond - 6/15/62-67</td><td>.....</td><td>.....</td><td>2,118</td><td>.....</td><td>.....</td></tr><tr><td>1963-June....</td><td>2-3/4%</td><td>Treasury bond - 6/15/58-63</td><td>.....</td><td>.....</td><td>919</td><td>.....</td><td>.....</td></tr><tr><td>Dec....</td><td>2-1/2%</td><td>Treasury bond - 12/15/63-68</td><td>.....</td><td>2,831</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><td>Total....</td><td>.....</td><td>.....</td><td>2,831</td><td>919</td><td>2,831</td><td>919</td></tr><tr><td>1964-Mar....</td><td>3-1/4%</td><td>FFMC bond - 3/15/44-64</td><td>.....</td><td>.....</td><td>95</td><td>.....</td><td>.....</td></tr><tr><td>1965-Dec....</td><td>2-3/4%</td><td>Treasury bond - 12/15/60-65</td><td>.....</td><td>.....</td><td>1,485</td><td>.....</td><td>.....</td></tr><tr><td>1966....</td><td></td><td></td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>1967-June....</td><td>2-1/2%</td><td>Treasury bond - 6/15/62-67</td><td>.....</td><td>.....</td><td>2,118</td><td>.....</td><td>.....</td></tr><tr><td>Sept....</td><td>2-1/2%</td><td>Treasury bond - 9/15/67-72</td><td>.....</td><td>2,716</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td></td><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-Dec....</td><td>2-1/2%</td><td>Treasury bond - 12/15/63-68</td><td>.....</td><td>.....</td><td>2,831</td><td>.....</td><td>.....</td></tr><tr><td>1969....</td><td></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><td>.....</td></tr><tr><td>1971....</td><td></td><td></td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>.....</td></tr><tr><td>1972-Sept....</td><td>2-1/2%</td><td>Treasury bond - 9/15/67-72</td><td>.....</td><td>.....</td><td>2,716</td><td>.....</td><td>.....</td></tr><tr><td></td><td></td><td></td><td>.....</td><td>.....</td><td>.....</td><td>.....</td><td>2,716</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 Federal Public Housing Authority.
34
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness 1/
Since January 1, 1939
(Io millions of dollars)
<table><tr><th rowspan="3">Date of announcement</th><th rowspan="3">Date of financing</th><th colspan="7">Description of new Treasury security 2/</th><th colspan="3">Amount issued</th><th rowspan="3">Public cash subscriptions tendered</th><th colspan="4">Description of security refunded</th></tr><tr><th colspan="2">Date of issue</th><th rowspan="2">Coupon rate (percent)</th><th rowspan="2">Call and maturity dates</th><th colspan="2">Term</th><th rowspan="2">Total</th><th colspan="2">For cash</th><th rowspan="2">For exchange</th><th rowspan="2">Class of security</th><th rowspan="2">Coupon rate (percent)</th><th rowspan="2">Call and maturity dates</th><th rowspan="2">Date of original issue</th></tr><tr><th>Notes</th><th>Bonds</th><th>To call</th><th>To maturity</th><th>Public</th><th>Government accounts 3/</th></tr><tr><td></td><td></td><td></td><td></td><td>Yrs.</td><td>Mos.</td><td>Yrs.</td><td>Mos.</td><td></td><td></td><td></td><td>.</td><td></td><td></td><td></td></tr></table>
Offerings in 1939
<table><tr><td>3/6</td><td>3/15</td><td>12/15/38 4/9/15/38 5/12/15/38 6/</td><td>1-1/8</td><td>-</td><td>2-1/2</td><td>12/15/43 9/15/50-52 12/15/60-65</td><td>12</td><td>5</td><td>14</td><td>53</td><td>319</td><td>53</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>2-3/4</td><td>6/15/44</td><td>-</td><td>5</td><td>-</td><td>416</td><td>894</td><td>894</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>4</td><td>4-1/2</td><td>515</td><td>-</td><td>515</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>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>6,264</td><td>-</td><td>-</td></tr><tr><td>12/12</td><td>12/22</td><td>12/22/39 12/22/39</td><td>1</td><td>-</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>283</td><td>1,118</td><td>100</td><td>1,018</td><td>Treas.note</td><td>1-5/8</td><td>3/15/40</td><td>3/15/35</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>-</td><td>718</td><td>-</td><td>-</td><td>718</td><td>-</td><td>Treas.note</td><td>1-1/2</td><td>6/15/40</td><td>6/15/35</td></tr><tr><td>6/10</td><td>6/15</td><td>6/15/40</td><td>1</td><td>-</td><td>9/15/43</td><td>-</td><td>3</td><td>3</td><td>279</td><td>-</td><td>-</td><td>279</td><td>-</td><td>Treas.bond</td><td>3-3/8</td><td>6/15/40-43</td><td>7/16/28</td></tr><tr><td>7/11</td><td>7/22</td><td>7/22/40</td><td>-</td><td>2-1/4</td><td>6/15/54-56</td><td>13</td><td>10-3/4</td><td>15</td><td>10-3/4</td><td>631</td><td>50</td><td>-</td><td>6,605</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/25</td><td>10/7</td><td>10/7/40</td><td>-</td><td>2</td><td>6/15/53-55</td><td>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><td>-</td><td>-</td></tr></table>
Offerings in 1941
<table><tr><td>1/23</td><td>1/31</td><td>1/31/41</td><td>3/4 T</td><td>-</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>Treasury 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>T</td><td>3/15/48-50</td><td>7</td><td>-</td><td>9</td><td>-</td><td>1,116</td><td>-</td><td>482</td><td>634</td><td>Treasury note</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td></tr><tr><td>3/19</td><td>3/31</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>33</td><td>-</td><td>-</td><td>33</td><td>-</td><td>Treasury 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</td><td>3/4 T</td><td>-</td><td>3/15/43</td><td>-</td><td>10</td><td>11-1/2</td><td>12</td><td>11-1/2</td><td>1,024</td><td>526</td><td>50</td><td>447</td><td>Treasury note</td><td>1-3/8</td><td>6/15/41</td><td>6/15/36</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>3/15/56-58</td><td>14</td><td>9-1/2</td><td>16</td><td>9-1/2</td><td>1,449</td><td>662</td><td>-</td><td>787</td><td>-</td><td>Treasury bond</td><td>3-1/4</td><td>8/1/41</td><td>8/15/33</td></tr><tr><td>10/23</td><td>11/1</td><td>11/1/41</td><td>1</td><td>T</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>189</td><td>10,446</td><td>Treasury note</td><td>1-1/4</td><td>12/15/41</td><td>12/15/36</td></tr><tr><td>12/4</td><td>12/15</td><td>12/15/41</td><td>-</td><td>2</td><td>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>299 g/203 g/</td><td>RFC note</td><td>7/8</td><td>11/1/41</td><td>11/1/38</td></tr><tr><td></td><td></td><td>10/20/41</td><td>7/</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>1,120</td><td>1,070</td><td>50</td><td>-</td><td>4,728</td><td>CCG 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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></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>Treasury 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>RFQ 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>FTMC 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>FTMC 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>5/15</td><td>5/15/42</td><td>-</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>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>HOLC bond</td><td>2-1/4</td><td>7/1/42-44</td><td>7/1/35</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>[272</td><td>-</td><td>RFQ note</td><td>1</td><td>7/1/42</td><td>11/10/39</td></tr><tr><td>6/18</td><td>6/25</td><td>6/25/42</td><td>5/8 T9/</td><td>-</td><td>2</td><td>T</td><td>2/1/43</td><td>-</td><td>-</td><td>7</td><td>1,588</td><td>1,588</td><td>-</td><td></td><td>-</td><td></td><td>-</td><td>-</td><td>-</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>-</td><td></td><td>-</td><td>-</td><td>-</td></tr><tr><td>8/3</td><td>8/3</td><td>8/3/42</td><td>7/</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>-</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>11-1/2</td><td>1,609</td><td>1,609</td><td>-</td><td></td><td>-</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>-</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>-</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>-</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>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>-</td><td>-</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>10/</td><td></td><td>-</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></td><td></td><td></td><td></td><td></td><td>Out 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>2,831</td><td>2,831</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>3,062</td><td>3,062</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>3,800</td><td>3,800</td><td>-</td><td></td><td>-</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></td><td></td><td></td><td></td><td></td><td>2,831</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>3,364</td><td>-</td><td>-</td><td></td><td></td><td>5,184</td><td>-</td><td>-</td><td>-</td></tr></table>
Offerings in 1943
<table><tr><td>1/21</td><td>2/1</td><td>2/1/43</td><td>7/8 T 9</td><td>-</td><td>2/1/44</td><td>-</td><td>-</td><td>1</td><td>-</td><td>2,211</td><td>2,211<br>10/</td><td>-</td><td>-</td><td>6,402</td><td>Grf. of in-<br>debtedness</td><td>5/8</td><td>2/1/43</td><td>6/25/42</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.
9 Certificates of indebtedness.
10 Issued primarily for refunding maturing security.
35
Offerings and Maturities of Treasury Bills, Beginning March 1, 1942
<table><tr><th rowspan="2">Date of new issue or of maturity of old issue</th><th colspan="7">Date on new issues</th><th rowspan="2">Amount of maturing issue (in millions of dollars)</th><th rowspan="2">Total bills outstanding (as of date shown in first column) (in millions of dollars)</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of cash subscriptions tendered (in millions of dollars)</th><th colspan="3">Bids accepted</th></tr><tr><th></th><th></th><th></th><th></th><th>Amount (In millions of dollars)</th><th>Average price per hundred</th><th>Equivalent average rate 1/</th><th>(Percent)</th></tr><tr><td>1942-Mar. 4</td><td>1942-June 3</td><td>91</td><td>510.2</td><td>150.5</td><td>99.944</td><td>0.222</td><td>200.2</td><td>1,952.1</td></tr><tr><td>Mar. 11</td><td>June 10</td><td>91</td><td>471.3</td><td>150.2</td><td>99.942</td><td>0.229</td><td>150.0</td><td>1,952.3</td></tr><tr><td>Mar. 15</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.2</td><td>1,802.1</td></tr><tr><td>Mar. 17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.0</td><td>1,652.1</td></tr><tr><td>Mar. 18</td><td>June 17</td><td>91</td><td>535.5</td><td>150.3</td><td>99.951</td><td>0.195</td><td>150.0</td><td>1,652.3</td></tr><tr><td>Mar. 19</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>150.2</td><td>1,502.1</td></tr><tr><td>Mar. 25</td><td>June 16</td><td>83</td><td>512.8</td><td>150.3</td><td>99.953</td><td>0.203</td><td>-</td><td>1,652.4</td></tr><tr><td>Apr. 1</td><td>June 18</td><td>78</td><td>356.7</td><td>150.4</td><td>99.952</td><td>0.221</td><td>-</td><td>1,802.8</td></tr><tr><td>Apr. 8</td><td>June 19</td><td>72</td><td>334.1</td><td>150.9</td><td>99.947</td><td>0.254</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>546.4</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. 26</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>650.3</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>Sept. 15</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>2,357.7</td></tr><tr><td>June 17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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>3,463.2</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>3,653.3</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>3,865.5</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>3,955.5</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>891.6</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>300.3</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>501.4</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>1,149.2</td><td>501.2</td><td>99.907</td><td>0.370</td><td>353.0</td><td>5,721.4</td></tr><tr><td>Dec. 2</td><td>Mar. 3</td><td>91</td><td>1,220.3</td><td>503.2</td><td>99.907</td><td>0.368</td><td>350.9</td><td>5,873.8</td></tr><tr><td>Dec. 9</td><td>Mar. 10</td><td>91</td><td>1,222.9</td><td>504.5</td><td>99.907</td><td>0.367</td><td>351.2</td><td>5,027.3</td></tr><tr><td>Dec. 16</td><td>Mar. 17</td><td>91</td><td>1,293.8</td><td>600.8</td><td>99.908</td><td>0.364</td><td>402.1</td><td>6,226.1</td></tr><tr><td>Dec. 23</td><td>Mar. 24</td><td>91</td><td>1,220.8</td><td>601.1</td><td>99.908</td><td>0.363</td><td>401.5</td><td>6,425.6</td></tr><tr><td>Dec. 30</td><td>Mar. 31</td><td>91</td><td>930.3</td><td>603.0</td><td>99.908</td><td>0.365</td><td>401.1</td><td>6,627.5</td></tr><tr><td>1943-Jan. 5</td><td>Apr. 7</td><td>91</td><td>1,242.6</td><td>600.1</td><td>99.910</td><td>0.357</td><td>400.2</td><td>6,827.4</td></tr><tr><td>Jan. 13</td><td>Apr. 14</td><td>91</td><td>1,228.7</td><td>601.5</td><td>99.908</td><td>0.363</td><td>400.4</td><td>7,028.5</td></tr><tr><td>Jan. 20</td><td>Apr. 21</td><td>91</td><td>1,306.7</td><td>701.5</td><td>99.907</td><td>0.366</td><td>505.1</td><td>7,225.0</td></tr><tr><td>Jan. 27</td><td>Apr. 28</td><td>91</td><td>1,015.7</td><td>702.2</td><td>99.906</td><td>0.370</td><td>504.6</td><td>7,422.7</td></tr><tr><td>Feb. 3</td><td>May 5</td><td>91</td><td>1,301.8</td><td>701.9</td><td>99.907</td><td>0.369</td><td>500.1</td><td>7,624.4</td></tr><tr><td>Feb. 10</td><td>May 12</td><td>91</td><td>1,044.9</td><td>707.8</td><td>99.906</td><td>0.372</td><td>501.4</td><td>7,830.8</td></tr><tr><td>Feb. 17</td><td>May 19</td><td>91</td><td>1,114.2</td><td>703.0</td><td>99.906</td><td>0.373</td><td>501.5</td><td>8,032.4</td></tr><tr><td>Feb. 24</td><td>May 26</td><td>91</td><td>1,054.7</td><td>700.8</td><td>99.906</td><td>0.374</td><td>501.2</td><td>8,231.9</td></tr><tr><td>Mar. 3</td><td>June 2</td><td>91</td><td>1,394.5</td><td>701.3</td><td>99.907</td><td>0.369</td><td>503.2</td><td>8,430.0</td></tr><tr><td>Mar. 10</td><td>June 9</td><td>91</td><td>1,382.3</td><td>705.3</td><td>99.906</td><td>0.371</td><td>504.8</td><td>8,630.4</td></tr><tr><td>Mar. 17</td><td>June 16</td><td>91</td><td>1,302.7</td><td>802.2</td><td>99.906</td><td>0.373</td><td>600.8</td><td>8,831.8</td></tr><tr><td>Mar. 24</td><td>June 23</td><td>91</td><td>1,329.9</td><td>802.1</td><td>99.906</td><td>0.373</td><td>601.1</td><td>9,032.7</td></tr><tr><td>Mar. 31</td><td>June 30</td><td>91</td><td>1,101.1</td><td>805.1</td><td>99.906</td><td>0.374</td><td>603.0</td><td>9,234.4</td></tr></table>
Source: Data on new issues come from Public Debt Service; amount of maturing issue and total bills outstanding are on Daily Treasury Statement basis.
Back Figure: Annual Reports of the Secretary of the Treasury. r Revised. 1/ Bank discount basis.
36
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>
<table><tr><th colspan="8">All series 4/</th></tr><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>+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>4,314.0</td><td>+1,409.3</td><td>1,992.4</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>-12.8</td><td>6,006.9</td><td>87.5</td><td>207.4</td><td>200.9</td><td>6.5</td></tr><tr><td>1942-March</td><td>8,435.9</td><td>+542.5</td><td>557.9</td><td>+37.7</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>-3.2</td><td>533.8</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>+16.0</td><td>618.4</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>+5.8</td><td>628.2</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>+689.7</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>+27.3</td><td>669.9</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>-72.7 r</td><td>827.4 r</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>+130.7 r</td><td>804.3 r</td><td>7.2</td><td>40.1</td><td>39.6</td><td>.5</td></tr><tr><td>November</td><td>14,078.9</td><td>+698.0</td><td>734.6</td><td>+8.5 r</td><td>726.1 r</td><td>6.7</td><td>43.2</td><td>42.7</td><td>.5</td></tr><tr><td>December</td><td>15,049.8</td><td>+970.9</td><td>1,014.2</td><td>-23.9 r</td><td>1,038.1 r</td><td>11.4</td><td>54.7</td><td>54.2</td><td>.5</td></tr><tr><td>1943-January</td><td>16,246.1</td><td>+1,196.3</td><td>1,240.4</td><td>+7.2 r</td><td>1,233.2 r</td><td>18.8</td><td>63.0</td><td>5/</td><td>5/</td></tr><tr><td>February</td><td>17,067.5</td><td>+821.4</td><td>887.2</td><td>+16.3</td><td>870.9</td><td>10.5</td><td>76.4</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>17,890.7</td><td>+823.2</td><td>944.3</td><td>+6.7 p</td><td>937.5 p</td><td>10.2</td><td>131.2</td><td>5/</td><td>5/</td></tr></table>
Series 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>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>+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>1942-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>7.4</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>5.9</td><td>.4</td></tr><tr><td>December</td><td>3,603.2</td><td>+6</td><td>*</td><td>-</td><td>*</td><td>7.3</td><td>6.7</td><td>6.3</td><td>.5</td></tr><tr><td>1943-January</td><td>3,608.9</td><td>+5.7</td><td>*</td><td>-</td><td>*</td><td>13.3</td><td>7.5</td><td>5/</td><td>5/</td></tr><tr><td>February</td><td>3,609.5</td><td>+6</td><td>-</td><td>-</td><td>-</td><td>7.5</td><td>6.9</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>3,609.1</td><td>-3</td><td>*</td><td>-</td><td>*</td><td>7.3</td><td>7.6</td><td>5/</td><td>5/</td></tr></table>
(Continued on following page)
37
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="3">Grose sales</th><th rowspan="2">Accrual of redemption values</th><th colspan="3">Redemption</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="10">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></tr><tr><td>1942</td><td>3,670.8</td><td>+3,467.7</td><td>3,526.3</td><td>-15.0</td><td>3,541.3</td><td>1.5</td><td>60.0</td><td>60.0</td><td>-</td></tr><tr><td>1942-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>-6.6</td><td>333.2</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>+5.4</td><td>416.5</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>+14.2</td><td>419.1</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>+13.5</td><td>440.5</td><td>.7</td><td>19.0</td><td>19.0</td><td>-</td></tr><tr><td>September</td><td>5,083.8</td><td>+488.0</td><td>509.9</td><td>-35.3 r</td><td>545.1 r</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>664.8</td><td>+79.2 r</td><td>585.6 r</td><td>.8</td><td>28.1</td><td>28.1</td><td>-</td></tr><tr><td>November</td><td>6,237.4</td><td>+511.1</td><td>541.6</td><td>-1.1 r</td><td>542.6 r</td><td>1.5</td><td>32.0</td><td>32.0</td><td>-</td></tr><tr><td>December</td><td>6,923.2</td><td>+685.8</td><td>725.8</td><td>-19.8 r</td><td>745.6 r</td><td>3.8</td><td>43.8</td><td>43.8</td><td>-</td></tr><tr><td>1943-January</td><td>7,693.7</td><td>+770.5</td><td>814.9</td><td>+3.2 r</td><td>811.7 r</td><td>5.2</td><td>49.7</td><td>49.6</td><td>-</td></tr><tr><td>February</td><td>8,267.4</td><td>+573.7</td><td>633.6</td><td>+4.4</td><td>629.2</td><td>2.8</td><td>62.7</td><td>62.7</td><td>-</td></tr><tr><td>March</td><td>8,873.9</td><td>+606.5</td><td>720.4</td><td>+7.7 p</td><td>712.7 p</td><td>2.7</td><td>116.6</td><td>116.5</td><td>.1</td></tr><tr><td colspan="10">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></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>1942-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</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</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>.9</td><td>-</td></tr><tr><td>November</td><td>788.6</td><td>+44.4</td><td>44.8</td><td>+2.9</td><td>41.9</td><td>.4</td><td>.7</td><td>.7</td><td>-</td></tr><tr><td>December</td><td>853.9</td><td>+65.3</td><td>66.0</td><td>+9 r</td><td>65.1 r</td><td>.2</td><td>.9</td><td>.9</td><td>-</td></tr><tr><td>1943-January</td><td>929.8</td><td>+75.8</td><td>77.1</td><td>+1.5</td><td>75.6</td><td>.3</td><td>1.6</td><td>5/</td><td>5/</td></tr><tr><td>February</td><td>976.6</td><td>+46.8</td><td>48.3</td><td>+5</td><td>47.8</td><td>.2</td><td>1.7</td><td>5/</td><td>5/</td></tr><tr><td>March</td><td>1,018.2</td><td>+42.2</td><td>43.9</td><td>+2 p</td><td>43.7 p</td><td>.2</td><td>1.8</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series G</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>1942-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>3,305.1</td><td>+206.4</td><td>209.6</td><td>+40.4</td><td>169.2</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>+6.6 r</td><td>141.6 r</td><td>-</td><td>4.1</td><td>4.1</td><td>-</td></tr><tr><td>December</td><td>3,669.5</td><td>+219.2</td><td>222.4</td><td>-5.0 r</td><td>227.4 r</td><td>-</td><td>3.2</td><td>3.2</td><td>-</td></tr><tr><td>1943-January</td><td>4,013.7</td><td>+344.3</td><td>348.4</td><td>+2.5</td><td>345.9</td><td>-</td><td>4.2</td><td>4.2</td><td>-</td></tr><tr><td>February</td><td>4,214.0</td><td>+200.3</td><td>205.3</td><td>+11.5</td><td>193.8</td><td>-</td><td>5.0</td><td>5.0</td><td>-</td></tr><tr><td>March</td><td>4,388.9</td><td>+174.8</td><td>180.0</td><td>-1.2 p</td><td>181.2 p</td><td>-</td><td>5.2</td><td>5.2</td><td>-</td></tr></table>
Source: Daily Treasury Statements and reports of gross sales.
p Preliminary.
r Revised.
* Less than $50,000.
1/ At current redemption values except Series G, 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 G.
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 investors other than commercial banks. Not yet available.
38
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="8">Sales in millions of dollars at issue price</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25</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="16">Series E</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>.....</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 r.</td><td>3,541.3</td><td>613.1</td><td>342.8</td><td>816.4</td><td>641.6</td><td>1,127.4</td><td>.....</td><td>.....</td><td>100.0</td><td>17.3</td><td>9.7</td><td>23.1</td><td>18.1</td><td>31.8</td><td>.....</td><td>.....</td></tr><tr><td>1942-March</td><td>327.5</td><td>66.2</td><td>33.8</td><td>79.2</td><td>56.5</td><td>91.8</td><td>.....</td><td>.....</td><td>100.0</td><td>20.2</td><td>10.3</td><td>24.2</td><td>17.3</td><td>28.0</td><td>.....</td><td>.....</td></tr><tr><td>April</td><td>333.2</td><td>76.0</td><td>35.5</td><td>80.5</td><td>54.4</td><td>86.9</td><td>.....</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>416.5</td><td>105.4</td><td>47.2</td><td>101.8</td><td>64.7</td><td>97.4</td><td>.....</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 r.</td><td>419.1</td><td>132.8</td><td>51.5</td><td>99.5</td><td>55.5</td><td>79.7</td><td>.....</td><td>.....</td><td>100.0</td><td>31.7</td><td>12.3</td><td>23.7</td><td>13.3</td><td>19.0</td><td>.....</td><td>.....</td></tr><tr><td>July r.</td><td>500.5</td><td>159.3</td><td>60.2</td><td>112.8</td><td>67.3</td><td>100.9</td><td>.....</td><td>.....</td><td>100.0</td><td>31.8</td><td>12.0</td><td>22.5</td><td>13.5</td><td>20.2</td><td>.....</td><td>.....</td></tr><tr><td>August r.</td><td>440.5</td><td>164.4</td><td>58.6</td><td>97.9</td><td>50.3</td><td>69.1</td><td>.....</td><td>.....</td><td>100.0</td><td>37.3</td><td>13.3</td><td>22.3</td><td>11.4</td><td>15.7</td><td>.....</td><td>.....</td></tr><tr><td>September r.</td><td>545.1</td><td>202.4</td><td>72.1</td><td>119.8</td><td>64.5</td><td>86.3</td><td>.....</td><td>.....</td><td>100.0</td><td>37.1</td><td>13.2</td><td>22.0</td><td>11.8</td><td>15.9</td><td>.....</td><td>.....</td></tr><tr><td>October r.</td><td>585.6</td><td>222.6</td><td>78.4</td><td>125.5</td><td>68.2</td><td>90.9</td><td>.....</td><td>.....</td><td>100.0</td><td>38.0</td><td>13.4</td><td>21.4</td><td>11.7</td><td>15.5</td><td>.....</td><td>.....</td></tr><tr><td>November r.</td><td>542.6</td><td>215.2</td><td>74.5</td><td>118.0</td><td>60.5</td><td>76.5</td><td>.....</td><td>.....</td><td>100.0</td><td>39.7</td><td>13.7</td><td>21.4</td><td>11.1</td><td>14.1</td><td>.....</td><td>.....</td></tr><tr><td>December r.</td><td>745.6</td><td>272.3</td><td>101.3</td><td>160.9</td><td>91.5</td><td>119.6</td><td>.....</td><td>.....</td><td>100.0</td><td>36.5</td><td>13.6</td><td>21.6</td><td>12.3</td><td>16.0</td><td>.....</td><td>.....</td></tr><tr><td>1943-January r.</td><td>811.7</td><td>264.0</td><td>119.4</td><td>153.1</td><td>97.4</td><td>177.7</td><td>.....</td><td>.....</td><td>100.0</td><td>32.5</td><td>14.7</td><td>18.9</td><td>12.0</td><td>21.9</td><td>.....</td><td>.....</td></tr><tr><td>February</td><td>629.2</td><td>241.6</td><td>83.1</td><td>119.3</td><td>68.5</td><td>116.7</td><td>.....</td><td>.....</td><td>100.0</td><td>38.4</td><td>13.2</td><td>19.0</td><td>10.9</td><td>18.5</td><td>.....</td><td>.....</td></tr><tr><td>March p.</td><td>712.7</td><td>230.3</td><td>98.2</td><td>133.8</td><td>75.0</td><td>115.3</td><td>.....</td><td>.....</td><td>100.0</td><td>40.7</td><td>13.8</td><td>18.8</td><td>10.5</td><td>16.2</td><td>.....</td><td>.....</td></tr><tr><td colspan="16">Series F</td></tr><tr><td>1941 1/</td><td>75.0</td><td>.....</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>.....</td><td>1.2</td><td>2.8</td><td>18.9</td><td>18.2</td><td>58.9</td></tr><tr><td>1942 2/</td><td>437.0</td><td>1.3</td><td>.....</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>.....</td><td>4.4</td><td>6.3</td><td>28.3</td><td>21.0</td><td>39.7</td></tr><tr><td>1942-March</td><td>36.6</td><td>.2</td><td>.....</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>.....</td><td>6.1</td><td>7.5</td><td>29.5</td><td>20.6</td><td>35.7</td></tr><tr><td>April</td><td>38.2</td><td>.2</td><td>.....</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>.....</td><td>4.9</td><td>6.5</td><td>29.3</td><td>22.2</td><td>36.6</td></tr><tr><td>May</td><td>41.7</td><td>.2</td><td>.....</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>.....</td><td>4.5</td><td>6.4</td><td>30.2</td><td>22.5</td><td>35.8</td></tr><tr><td>June</td><td>41.9</td><td>.2</td><td>.....</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>.....</td><td>4.3</td><td>6.4</td><td>31.4</td><td>22.3</td><td>35.0</td></tr><tr><td>July</td><td>75.3</td><td>.2</td><td>.....</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>.....</td><td>2.6</td><td>4.4</td><td>23.2</td><td>19.8</td><td>49.7</td></tr><tr><td>August</td><td>48.4</td><td>.2</td><td>.....</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>.....</td><td>3.2</td><td>5.3</td><td>27.5</td><td>21.0</td><td>42.7</td></tr><tr><td>September</td><td>69.2</td><td>.2</td><td>.....</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>.....</td><td>2.6</td><td>4.9</td><td>27.7</td><td>21.1</td><td>43.4</td></tr><tr><td>October</td><td>49.5</td><td>.2</td><td>.....</td><td>1.9</td><td>3.1</td><td>15.5</td><td>12.2</td><td>16.6</td><td>100.0</td><td>.4</td><td>.....</td><td>3.8</td><td>6.3</td><td>31.3</td><td>24.6</td><td>33.6</td></tr><tr><td>November r.</td><td>41.9</td><td>.2</td><td>.....</td><td>1.6</td><td>2.6</td><td>13.5</td><td>10.0</td><td>13.9</td><td>100.0</td><td>.5</td><td>.....</td><td>3.9</td><td>6.1</td><td>32.3</td><td>24.0</td><td>33.2</td></tr><tr><td>December r.</td><td>65.1</td><td>.5</td><td>.....</td><td>2.6</td><td>3.9</td><td>19.7</td><td>15.4</td><td>22.9</td><td>100.0</td><td>.7</td><td>.....</td><td>4.0</td><td>6.1</td><td>30.3</td><td>23.7</td><td>35.2</td></tr><tr><td>1943-January</td><td>75.6</td><td>.3</td><td>.....</td><td>2.1</td><td>3.2</td><td>16.3</td><td>14.8</td><td>38.8</td><td>100.0</td><td>.5</td><td>.....</td><td>2.7</td><td>4.3</td><td>21.5</td><td>19.6</td><td>51.4</td></tr><tr><td>February</td><td>47.8</td><td>.3</td><td>.....</td><td>1.8</td><td>2.5</td><td>11.6</td><td>9.5</td><td>22.1</td><td>100.0</td><td>.6</td><td>.....</td><td>3.7</td><td>5.3</td><td>24.3</td><td>19.8</td><td>46.3</td></tr><tr><td>March p.</td><td>43.7</td><td>.3</td><td>.....</td><td>1.6</td><td>2.5</td><td>11.7</td><td>9.5</td><td>18.1</td><td>100.0</td><td>.7</td><td>.....</td><td>3.7</td><td>5.6</td><td>26.7</td><td>21.8</td><td>41.5</td></tr><tr><td colspan="16">Series O</td></tr><tr><td>1941 1/</td><td>451.4</td><td>.....</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>.....</td><td>1.2</td><td>2.7</td><td>20.1</td><td>17.9</td><td>58.1</td></tr><tr><td>1942</td><td>2,027.8</td><td>.....</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>.....</td><td>2.5</td><td>5.6</td><td>28.4</td><td>19.9</td><td>43.6</td></tr><tr><td>1942-March</td><td>156.1</td><td>.....</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>.....</td><td>3.0</td><td>6.6</td><td>30.1</td><td>20.0</td><td>40.3</td></tr><tr><td>April</td><td>162.4</td><td>.....</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>.....</td><td>3.1</td><td>6.6</td><td>30.9</td><td>21.0</td><td>38.4</td></tr><tr><td>May</td><td>160.3</td><td>.....</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>.....</td><td>3.5</td><td>7.1</td><td>32.8</td><td>21.3</td><td>35.3</td></tr><tr><td>June</td><td>167.2</td><td>.....</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>.....</td><td>3.3</td><td>6.5</td><td>30.9</td><td>21.4</td><td>37.9</td></tr><tr><td>July</td><td>328.4</td><td>.....</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>.....</td><td>2.2</td><td>4.8</td><td>22.3</td><td>15.8</td><td>54.9</td></tr><tr><td>August</td><td>181.1</td><td>.....</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>.....</td><td>2.7</td><td>5.9</td><td>27.6</td><td>19.7</td><td>44.1</td></tr><tr><td>September</td><td>213.0</td><td>.....</td><td>.....</td><td>5.7</td><td>13.0</td><td>60.9</td><td>45.8</td><td>87.7</td><td>100.0</td><td>.....</td><td>.....</td><td>2.7</td><td>6.1</td><td>28.6</td><td>21.5</td><td>41.1</td></tr><tr><td>October</td><td>169.2</td><td>.....</td><td>.....</td><td>5.4</td><td>12.0</td><td>53.9</td><td>36.4</td><td>61.5</td><td>100.0</td><td>.....</td><td>.....</td><td>3.2</td><td>7.1</td><td>31.8</td><td>21.5</td><td>36.4</td></tr><tr><td>November r.</td><td>141.6</td><td>.....</td><td>.....</td><td>5.0</td><td>10.5</td><td>47.3</td><td>30.3</td><td>48.5</td><td>100.0</td><td>.....</td><td>.....</td><td>3.5</td><td>7.4</td><td>33.4</td><td>21.4</td><td>34.3</td></tr><tr><td>December r.</td><td>227.4</td><td>.....</td><td>.....</td><td>7.4</td><td>16.7</td><td>70.2</td><td>48.1</td><td>84.9</td><td>100.0</td><td>.....</td><td>.....</td><td>3.2</td><td>7.3</td><td>30.9</td><td>21.2</td><td>37.4</td></tr><tr><td>1943-January</td><td>345.9</td><td>.....</td><td>.....</td><td>7.4</td><td>19.1</td><td>80.1</td><td>52.5</td><td>186.7</td><td>100.0</td><td>.....</td><td>.....</td><td>2.1</td><td>5.5</td><td>23.2</td><td>15.2</td><td>54.0</td></tr><tr><td>February</td><td>193.8</td><td>.....</td><td>.....</td><td>5.1</td><td>11.8</td><td>50.8</td><td>32.1</td><td>94.2</td><td>100.0</td><td>.....</td><td>.....</td><td>2.6</td><td>6.1</td><td>26.2</td><td>16.5</td><td>48.6</td></tr><tr><td>March p.</td><td>181.2</td><td>.....</td><td>.....</td><td>5.5</td><td>13.0</td><td>55.2</td><td>32.6</td><td>74.9</td><td>100.0</td><td>.....</td><td>.....</td><td>3.1</td><td>7.2</td><td>30.4</td><td>18.0</td><td>41.3</td></tr></table>
Source: Reports of gross sales. p Preliminary. r Revised.
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.
39
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>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>Jan.</th><th>Feb.</th><th>Mar.</th></tr><tr><th></th><th>1941 1/</th><th>1942</th><th></th><th></th><th></th><th></th><th></th><th></th><th>r</th><th>r</th><th>r</th><th>r</th><th></th><th></th><th></th></tr><tr><td>Alabama</td><td>1,381</td><td>28,996</td><td>2,460</td><td>2,713</td><td>3,924</td><td>4,513</td><td>6,671</td><td>5,262</td><td>6,269</td><td>5,787</td><td>5,942</td><td>6,841</td><td>8,778</td><td>7,207</td><td>7,697</td></tr><tr><td>Arizona</td><td>711</td><td>10,313</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>1,675</td><td>1,775</td><td>1,677</td><td>2,355</td><td>2,774</td><td>2,100</td><td>2,472</td></tr><tr><td>Arkansas</td><td>940</td><td>21,404</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>3,235</td><td>3,685</td><td>3,671</td><td>5,169</td><td>6,020</td><td>4,452</td><td>4,005</td></tr><tr><td>California</td><td>9,920</td><td>260,592</td><td>24,688</td><td>21,709</td><td>29,000</td><td>31,139</td><td>37,157</td><td>33,435</td><td>41,004</td><td>44,829</td><td>36,526</td><td>56,102</td><td>63,819</td><td>51,828</td><td>56,514</td></tr><tr><td>Colorado</td><td>1,793</td><td>24,845</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>4,675</td><td>3,676</td><td>5,840</td><td>6,478</td><td>4,995</td><td>5,086</td></tr><tr><td>Connecticut</td><td>3,943</td><td>77,543</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>10,362</td><td>16,295</td><td>11,739</td><td>17,874</td><td>17,240</td><td>10,855</td><td>14,570</td></tr><tr><td>Delaware</td><td>469</td><td>7,629</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>2,040</td><td>2,012</td><td>1,872</td><td>1,496</td><td>1,692</td></tr><tr><td>Diet. of Columbia</td><td>2,592</td><td>34,827</td><td>3,330</td><td>3,446</td><td>3,771</td><td>4,123</td><td>4,434</td><td>4,760</td><td>4,728</td><td>5,359</td><td>5,596</td><td>7,771</td><td>8,099</td><td>6,667</td><td>7,252</td></tr><tr><td>Florida</td><td>2,487</td><td>39,565</td><td>4,206</td><td>4,439</td><td>4,993</td><td>4,269</td><td>5,481</td><td>4,553</td><td>5,770</td><td>5,257</td><td>5,437</td><td>6,950</td><td>9,160</td><td>7,126</td><td>7,860</td></tr><tr><td>Georgia</td><td>1,642</td><td>35,642</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>6,201</td><td>5,938</td><td>6,811</td><td>8,436</td><td>10,308</td><td>8,303</td><td>8,233</td></tr><tr><td>Idaho</td><td>485</td><td>9,840</td><td>908</td><td>1,047</td><td>1,399</td><td>1,132</td><td>1,285</td><td>1,437</td><td>1,820</td><td>2,218</td><td>2,279</td><td>2,255</td><td>2,640</td><td>2,594</td><td>2,266</td></tr><tr><td>Illinois</td><td>14,737</td><td>282,055</td><td>26,688</td><td>25,546</td><td>35,838</td><td>32,854</td><td>38,891</td><td>33,598</td><td>31,072</td><td>44,970</td><td>40,091</td><td>51,912</td><td>54,882</td><td>41,502</td><td>53,559</td></tr><tr><td>Indiana</td><td>3,644</td><td>76,661</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>14,464</td><td>15,156</td><td>15,323</td><td>19,778</td><td>21,560</td><td>17,885</td><td>19,696</td></tr><tr><td>Iowa</td><td>2,743</td><td>69,558</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>10,924</td><td>10,733</td><td>10,692</td><td>20,145</td><td>18,288</td><td>12,426</td><td>18,270</td></tr><tr><td>Kansas</td><td>1,879</td><td>35,310</td><td>3,847</td><td>2,999</td><td>3,912</td><td>4,158</td><td>4,680</td><td>5,269</td><td>6,422</td><td>6,850</td><td>7,823</td><td>9,049</td><td>9,017</td><td>8,320</td><td>10,681</td></tr><tr><td>Kentucky</td><td>1,835</td><td>34,293</td><td>3,467</td><td>3,051</td><td>4,086</td><td>4,399</td><td>5,643</td><td>4,974</td><td>5,170</td><td>5,463</td><td>5,196</td><td>7,189</td><td>8,938</td><td>7,640</td><td>7,434</td></tr><tr><td>Louisiana</td><td>1,824</td><td>36,800</td><td>3,728</td><td>3,190</td><td>4,629</td><td>4,757</td><td>5,886</td><td>4,923</td><td>5,680</td><td>6,917</td><td>6,014</td><td>7,844</td><td>9,152</td><td>6,970</td><td>8,169</td></tr><tr><td>Maine</td><td>1,083</td><td>17,746</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>2,252</td><td>3,156</td><td>2,430</td><td>3,195</td><td>4,427</td><td>2,429</td><td>3,339</td></tr><tr><td>Maryland</td><td>2,745</td><td>49,009</td><td>4,095</td><td>4,103</td><td>5,118</td><td>5,596</td><td>6,554</td><td>6,246</td><td>6,796</td><td>7,419</td><td>7,188</td><td>9,264</td><td>10,472</td><td>8,782</td><td>9,202</td></tr><tr><td>Massachusetts</td><td>9,110</td><td>141,217</td><td>12,525</td><td>12,951</td><td>15,889</td><td>16,402</td><td>18,126</td><td>18,212</td><td>18,066</td><td>20,822</td><td>18,648</td><td>27,666</td><td>29,844</td><td>19,836</td><td>23,953</td></tr><tr><td>Michigan</td><td>8,108</td><td>160,150</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>34,188</td><td>34,452</td><td>32,550</td><td>39,194</td><td>43,419</td><td>38,134</td><td>48,697</td></tr><tr><td>Minnesota</td><td>3,624</td><td>71,181</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>11,218</td><td>10,772</td><td>11,134</td><td>16,691</td><td>16,279</td><td>12,712</td><td>13,448</td></tr><tr><td>Mississippi</td><td>901</td><td>22,973</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><td>5,193</td><td>5,396</td><td>4,223</td><td>4,129</td></tr><tr><td>Missouri</td><td>7,483</td><td>94,800</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>12,619</td><td>12,018</td><td>13,165</td><td>16,991</td><td>18,957</td><td>14,333</td><td>15,715</td></tr><tr><td>Montana</td><td>771</td><td>17,710</td><td>1,823</td><td>1,633</td><td>1,827</td><td>1,706</td><td>2,232</td><td>1,816</td><td>2,328</td><td>2,980</td><td>2,582</td><td>4,048</td><td>4,053</td><td>2,786</td><td>2,807</td></tr><tr><td>Nebraska</td><td>1,384</td><td>26,045</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>4,602</td><td>4,725</td><td>3,987</td><td>5,852</td><td>6,565</td><td>5,586</td><td>6,616</td></tr><tr><td>Nevada</td><td>149</td><td>4,340</td><td>419</td><td>379</td><td>513</td><td>501</td><td>656</td><td>643</td><td>879</td><td>844</td><td>956</td><td>950</td><td>1,113</td><td>880</td><td>893</td></tr><tr><td>New Hampshire</td><td>595</td><td>11,760</td><td>1,128</td><td>1,010</td><td>1,427</td><td>1,509</td><td>1,791</td><td>1,600</td><td>1,829</td><td>2,300</td><td>1,754</td><td>2,317</td><td>2,316</td><td>2,135</td><td>2,348</td></tr><tr><td>New Jersey</td><td>9,904</td><td>160,538</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>23,241</td><td>23,634</td><td>19,993</td><td>27,650</td><td>30,047</td><td>22,070</td><td>27,647</td></tr><tr><td>New Mexico</td><td>243</td><td>6,978</td><td>609</td><td>826</td><td>802</td><td>163</td><td>909</td><td>880</td><td>927</td><td>1,174</td><td>1,058</td><td>1,816</td><td>1,741</td><td>1,552</td><td>1,370</td></tr><tr><td>New York</td><td>44,582</td><td>587,249</td><td>46,954</td><td>52,907</td><td>57,336</td><td>57,763</td><td>74,931</td><td>54,990</td><td>72,866</td><td>77,332</td><td>70,221</td><td>89,287</td><td>102,724</td><td>72,550</td><td>82,583</td></tr><tr><td>North Carolina</td><td>1,432</td><td>42,297</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>8,923</td><td>8,540</td><td>9,361</td><td>11,650</td><td>12,742</td><td>8,719</td><td>9,049</td></tr><tr><td>North Dakota</td><td>475</td><td>11,394</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>1,650</td><td>1,794</td><td>2,635</td><td>4,407</td><td>4,260</td><td>3,471</td><td>2,156</td></tr><tr><td>Ohio</td><td>10,886</td><td>190,262</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>34,085</td><td>31,980</td><td>31,001</td><td>47,796</td><td>50,494</td><td>39,384</td><td>41,202</td></tr><tr><td>Oklahoma</td><td>2,302</td><td>34,482</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>5,052</td><td>5,504</td><td>4,718</td><td>7,574</td><td>10,742</td><td>6,917</td><td>6,471</td></tr><tr><td>Oregon</td><td>3,154</td><td>37,394</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>7,038</td><td>7,062</td><td>6,381</td><td>9,234</td><td>10,550</td><td>7,499</td><td>9,280</td></tr><tr><td>Pennsylvania</td><td>14,443</td><td>283,782</td><td>25,856</td><td>28,784</td><td>31,906</td><td>32,149</td><td>36,801</td><td>35,058</td><td>43,944</td><td>46,499</td><td>42,641</td><td>59,356</td><td>59,059</td><td>49,624</td><td>51,762</td></tr><tr><td>Rhode Island</td><td>1,478</td><td>24,293</td><td>2,467</td><td>2,358</td><td>2,774</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><td>5,878</td><td>5,020</td><td>3,019</td><td>5,464</td></tr><tr><td>South Carolina</td><td>874</td><td>18,782</td><td>1,897</td><td>2,198</td><td>2,559</td><td>2,668</td><td>3,091</td><td>3,002</td><td>4,154</td><td>3,742</td><td>3,914</td><td>5,059</td><td>5,122</td><td>4,066</td><td>4,487</td></tr><tr><td>South Dakota</td><td>449</td><td>11,783</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>1,614</td><td>1,608</td><td>2,092</td><td>3,239</td><td>2,765</td><td>2,452</td><td>2,905</td></tr><tr><td>Tennessee</td><td>1,707</td><td>36,734</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>7,485</td><td>6,766</td><td>6,791</td><td>8,818</td><td>10,956</td><td>7,833</td><td>7,922</td></tr><tr><td>Texas</td><td>8,717</td><td>126,056</td><td>12,161</td><td>11,088</td><td>15,269</td><td>13,775</td><td>16,791</td><td>15,202</td><td>19,831</td><td>20,417</td><td>19,694</td><td>26,938</td><td>28,853</td><td>23,004</td><td>26,963</td></tr><tr><td>Utah</td><td>474</td><td>9,919</td><td>917</td><td>953</td><td>1,339</td><td>1,114</td><td>1,463</td><td>1,507</td><td>1,658</td><td>2,170</td><td>1,956</td><td>2,647</td><td>3,716</td><td>2,851</td><td>3,068</td></tr><tr><td>Vermont</td><td>486</td><td>7,550</td><td>613</td><td>688</td><td>788</td><td>766</td><td>967</td><td>844</td><td>873</td><td>1,300</td><td>942</td><td>1,143</td><td>1,527</td><td>986</td><td>1,159</td></tr><tr><td>Virginia</td><td>2,319</td><td>56,272</td><td>4,865</td><td>5,350</td><td>7,241</td><td>7,095</td><td>8,160</td><td>8,291</td><td>9,905</td><td>10,296</td><td>10,394</td><td>13,814</td><td>15,756</td><td>11,302</td><td>12,493</td></tr><tr><td>Washington</td><td>3,778</td><td>57,962</td><td>5,579</td><td>5,174</td><td>8,267</td><td>7,569</td><td>9,025</td><td>9,177</td><td>9,283</td><td>11,795</td><td>10,914</td><td>15,694</td><td>16,239</td><td>12,145</td><td>14,955</td></tr><tr><td>West Virginia</td><td>1,187</td><td>27,642</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>4,086</td><td>4,835</td><td>4,638</td><td>5,648</td><td>7,192</td><td>5,280</td><td>6,377</td></tr><tr><td>Wisconsin</td><td>4,607</td><td>77,668</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>11,256</td><td>12,566</td><td>11,486</td><td>14,825</td><td>16,003</td><td>13,308</td><td>13,241</td></tr><tr><td>Wyoming</td><td>339</td><td>7,066</td><td>684</td><td>712</td><td>737</td><td>779</td><td>869</td><td>831</td><td>1,099</td><td>1,345</td><td>1,008</td><td>1,645</td><td>1,794</td><td>1,326</td><td>1,388</td></
(Continued on following page)
40
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 prices)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="10">1942</th><th colspan="4">1943</th></tr><tr><th></th><th>1941 1/</th><th>1942</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>Jan.</th><th>Feb.</th><th>Mar. p</th></tr><tr><td>Alabama</td><td>2,393</td><td>13,099</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><td>2,629</td><td>3,454</td><td>1,386</td><td>1,592</td></tr><tr><td>Arizona</td><td>950</td><td>4,232</td><td>280</td><td>420</td><td>344</td><td>394</td><td>550</td><td>524</td><td>414</td><td>778</td><td>391</td><td>455</td><td>1,246</td><td>751</td><td>512</td></tr><tr><td>Arkansas</td><td>1,024</td><td>13,738</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><td>1,658</td><td>1,649</td><td>1,200</td><td>708</td></tr><tr><td>California</td><td>20,402</td><td>140,602</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><td>14,001</td><td>30,034</td><td>19,121</td><td>17,616</td></tr><tr><td>Colorado</td><td>3,908</td><td>18,302</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><td>2,316</td><td>3,079</td><td>2,248</td><td>1,626</td></tr><tr><td>Connecticut</td><td>14,937</td><td>59,894</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>4,725</td><td>3,736</td><td>5,585</td><td>9,371</td><td>7,008</td><td>6,219</td></tr><tr><td>Delaware</td><td>2,524</td><td>11,910</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><td>1,137</td><td>1,083</td><td>801</td><td>903</td></tr><tr><td>Dist. of Columbia</td><td>5,166</td><td>23,247</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><td>3,284</td><td>3,455</td><td>2,841</td><td>2,721</td></tr><tr><td>Florida</td><td>3,379</td><td>22,219</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>2,764</td><td>2,538</td><td>3,681</td><td>2,339</td><td>2,384</td></tr><tr><td>Georgia</td><td>2,878</td><td>17,982</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>3,439</td><td>3,399</td><td>3,968</td><td>3,874</td><td>2,083</td></tr><tr><td>Idaho</td><td>291</td><td>7,339</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><td>445</td><td>1,278</td><td>614</td><td>798</td></tr><tr><td>Illinois</td><td>59,605</td><td>202,041</td><td>15,939</td><td>13,494</td><td>15,881</td><td>19,404</td><td>33,306</td><td>20,558</td><td>23,390</td><td>15,724</td><td>9,314</td><td>20,757</td><td>39,675</td><td>18,076</td><td>21,319</td></tr><tr><td>Indiana</td><td>6,285</td><td>45,123</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><td>5,892</td><td>11,001</td><td>5,080</td><td>4,619</td></tr><tr><td>Iowa</td><td>4,498</td><td>30,676</td><td>2,956</td><td>3,791</td><td>3,260</td><td>3,964</td><td>6,115</td><td>3,751</td><td>6,075</td><td>3,401</td><td>2,948</td><td>5,614</td><td>8,783</td><td>5,408</td><td>7,793</td></tr><tr><td>Kansas</td><td>2,459</td><td>14,486</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><td>2,741</td><td>3,222</td><td>4,109</td><td>2,533</td></tr><tr><td>Kentucky</td><td>4,356</td><td>24,516</td><td>1,779</td><td>2,170</td><td>1,893</td><td>1,519</td><td>4,601</td><td>3,591</td><td>2,809</td><td>2,674</td><td>2,537r</td><td>3,177</td><td>5,314</td><td>5,039</td><td>1,690</td></tr><tr><td>Louisiana</td><td>2,477</td><td>21,651</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>2,071</td><td>5,005</td><td>3,446</td><td>2,564</td><td>2,970</td></tr><tr><td>Maine</td><td>3,974</td><td>16,570</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><td>1,646</td><td>3,315</td><td>235</td><td>1,261</td></tr><tr><td>Maryland</td><td>6,800</td><td>40,093</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><td>4,278</td><td>8,038</td><td>3,872</td><td>2,928</td></tr><tr><td>Massachusetts</td><td>35,087</td><td>144,199</td><td>10,389</td><td>12,757</td><td>11,435</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><td>13,119</td><td>25,797</td><td>2,084</td><td>11,663</td></tr><tr><td>Michigan</td><td>13,928</td><td>65,040</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>7,201</td><td>4,884</td><td>9,088</td><td>13,243</td><td>7,452</td><td>6,361</td></tr><tr><td>Minnesota</td><td>9,770</td><td>49,069</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>3,574</td><td>4,951</td><td>8,726</td><td>5,353</td><td>4,031</td></tr><tr><td>Mississippi</td><td>973</td><td>10,061</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><td>2,887</td><td>2,555</td><td>1,231</td><td>1,279</td></tr><tr><td>Missouri</td><td>23,952</td><td>68,651</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><td>6,848</td><td>9,297</td><td>5,724</td><td>4,963</td></tr><tr><td>Montana</td><td>612</td><td>6,322</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>815</td><td>888</td><td>974</td><td>755</td><td>729</td></tr><tr><td>Nebraska</td><td>3,523</td><td>14,132</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><td>2,696</td><td>3,874</td><td>2,357</td><td>3,316</td></tr><tr><td>Nevada</td><td>354</td><td>2,349</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><td>174</td><td>928</td><td>397</td><td>271</td></tr><tr><td>New Hampshire</td><td>1,896</td><td>11,090</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><td>1,095</td><td>2,857</td><td>58</td><td>1,309</td></tr><tr><td>New Jersey</td><td>20,400</td><td>93,399</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>6,245</td><td>11,879</td><td>12,310</td><td>7,118</td><td>7,865</td></tr><tr><td>New Mexico</td><td>415</td><td>9,034</td><td>933</td><td>248</td><td>333</td><td>154</td><td>509</td><td>359</td><td>507</td><td>686</td><td>576</td><td>675</td><td>680</td><td>667</td><td>216</td></tr><tr><td>New York</td><td>141,842</td><td>580,433</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>35,201</td><td>30,032</td><td>54,236</td><td>72,540</td><td>42,816</td><td>38,317</td></tr><tr><td>North Carolina</td><td>2,338</td><td>26,074</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><td>3,836</td><td>4,957</td><td>2,467</td><td>3,167</td></tr><tr><td>North Dakota</td><td>962</td><td>7,515</td><td>2,239</td><td>490</td><td>410</td><td>419</td><td>1,076</td><td>685</td><td>715</td><td>732</td><td>757</td><td>840</td><td>1,775</td><td>941</td><td>416</td></tr><tr><td>Ohio</td><td>22,466</td><td>119,098</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>9,699</td><td>20,724</td><td>25,120</td><td>14,866</td><td>10,662</td></tr><tr><td>Oklahoma</td><td>2,325</td><td>16,587</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><td>2,034</td><td>3,176</td><td>1,464</td><td>1,137</td></tr><tr><td>Oregon</td><td>2,522</td><td>22,095</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><td>4,389</td><td>3,214</td><td>1,891</td><td>1,186</td></tr><tr><td>Pennsylvania</td><td>49,547</td><td>243,285</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>20,843r</td><td>25,937</td><td>31,758</td><td>17,999</td><td>17,918</td></tr><tr><td>Rhode Island</td><td>5,924</td><td>28,064</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><td>1,852</td><td>2,804</td><td>7,115</td><td>1,297</td></tr><tr><td>South Carolina</td><td>1,621</td><td>9,459</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>1,387</td><td>1,683</td><td>2,132</td><td>1,817</td><td>1,477</td></tr><tr><td>South Dakota</td><td>194</td><td>3,077</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>859</td><td>978</td><td>920</td><td>567</td><td>807</td></tr><tr><td>Tennessee</td><td>3,128</td><td>18,481</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><td>3,293</td><td>3,819</td><td>2,716</td><td>2,376</td></tr><tr><td>Texas</td><td>10,323</td><td>54,196</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>7,289</td><td>5,641</td><td>9,777</td><td>11,324</td><td>7,842</td><td>6,456</td></tr><tr><td>Utah</td><td>1,000</td><td>5,019</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><td>471</td><td>836</td><td>637</td><td>418</td></tr><tr><td>Vermont</td><td>1,011</td><td>5,842</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><td>579</td><td>1,303</td><td>463</td><td>554</td></tr><tr><td>Virginia</td><td>4,532</td><td>28,014</td><td>1,927</td><td>1,890</td><td>2,247</td><td>2,667</td><td>4,487</td><td>2,646</td><td>4,024</td><td>3,971</td><td>3,274</td><td>5,932</td><td>6,498</td><td>3,674</td><td>2,875</td></tr><tr><td>Washington</td><td>6,268</td><td>25,898</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><td>3,607</td><td>6,002</td><td>3,891</td><td>3,235</td></tr><tr><td>West Virginia</td><td>1,492</td><td>11,780</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>1,291</td><td>2,063</td><td>2,447</td><td>1,402</td><td>962</td></tr><tr><td>Wisconsin</td><td>8,491</td><td>42,205</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>3,709</td><td>6,839</td><td>11,009</td><td>6,608</td><td>5,587</td></tr><tr><td>Wyoming</td><td>501</td><td>3,690</td><td>634</td><td>279</td><td>186</td><td>232</td><td>545</td><td>303</td><td>438</td><td>286</td><td>502</td><td>570</td><td>747</td><td>323</td><td>242</td></tr><tr><td>Alaska</td><td>20</td><td>736</td><td>160</td><td>34</td><td>11</td><td>40</td><td>98</td><td>65</td><td>75</td><td>127</td><td>92</td><td>57</td><td>143</td><td>104</td><td>111</td></tr><tr><td>Canal Zone</td><td>95</td><td>504</td><td>78</td><td>128</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>178</td><td>49</td><td>119</td><td>191</td><td>96</td><td>498</td></tr><tr><td>Hawaii</td><td>47</td><td>5,882</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>985</td><td>1,243</td><td>1
Source: Reports of gross sales. p Preliminary. r Revised. * Less than $500. 1/ Sales of Series E, F, a
41
Participation in Payroll Savings Plans For United States Savings Bonds
<table><tr><th></th><th colspan="10">1942</th><th colspan="2">1943</th></tr><tr><th></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>Jan.</th><th>Feb.</th></tr><tr><td colspan="13">Number of firms having payroll savings plans</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><td></td></tr><tr><td>5,000 or more workers</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>490r</td><td>492r</td><td>492r</td><td>496</td></tr><tr><td>500-4,999 workers</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>5,586r</td><td>5,683r</td><td>5,707r</td><td>5,755</td></tr><tr><td>100-499 workers</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><td>25,540</td><td>25,835</td><td>26,260</td></tr><tr><td>Under 100 workers</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>108,767</td><td>115,421</td><td>122,762</td><td>127,660</td><td>136,098</td><td>140,044</td><td>144,016</td></tr><tr><td>Total number of firms</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><td>167,813</td><td>172,678</td><td>176,527</td></tr><tr><td colspan="13">Number of workers employed in firms and governmental agencies having payroll savings plans (In millions)</td></tr><tr><td>In firms</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>25.3</td><td>25.7</td><td>26.3r</td><td>27.0</td></tr><tr><td>In Federal, State, and local governments and their agencies</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>2.9r</td><td>3.1r</td><td>3.2r</td><td>3.2r</td><td>3.3r</td><td>3.4r</td><td>3.5</td></tr><tr><td>Total</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>25.7r</td><td>26.3r</td><td>27.7r</td><td>28.5r</td><td>29.0r</td><td>29.7r</td><td>30.5</td></tr><tr><td colspan="13">Number of persons actually participating in payroll savings plans (In millions)</td></tr><tr><td>Workers participating:</td><td></td><td></td><td></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>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>19.1</td><td>19.6</td><td>19.8</td><td>20.2</td></tr><tr><td>In Federal, State, and local governments and their agencies</td><td>.4</td><td>.6</td><td>.7</td><td>.7</td><td>1.0</td><td>1.3r</td><td>1.7r</td><td>1.7r</td><td>2.0r</td><td>2.1r</td><td>2.2r</td><td>2.2r</td><td>2.4</td></tr><tr><td>Total workers participating</td><td>7.6</td><td>9.6</td><td>11.6</td><td>13.9</td><td>16.0</td><td>17.8r</td><td>18.4r</td><td>19.3r</td><td>20.6r</td><td>21.2r</td><td>21.8r</td><td>22.0r</td><td>22.6</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>1.0</td><td>1.7</td><td>2.0</td><td>2.5</td><td>2.7</td><td>2.9r</td><td>3.1</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>19.4r</td><td>21.0r</td><td>22.6r</td><td>23.7r</td><td>24.5r</td><td>24.9r</td><td>25.7</td></tr><tr><td colspan="13">Deductions under payroll savings plans</td></tr><tr><td>Total amount deducted (in millions of dollars)</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>335.0</td><td>355.0r</td><td>375.0</td><td>360.0 p</td></tr><tr><td>Percent of pay deducted</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>8.3%</td><td>8.5%</td><td>8.7%</td><td>8.7% p</td></tr></table>
42
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 1/</th><th colspan="3">Analysis of net change Gross sales</th><th>Redemptions 1/</th></tr><tr><th></th><th></th><th></th><th>Total funds received 1/</th><th>Adjustment of sales reported to fund received</th><th>Sales reported</th><th></th></tr><tr><td>1941 2/</td><td>5,294</td><td>+5,143</td><td></td><td></td><td>6,087</td><td>943</td></tr><tr><td>1942</td><td>166,341</td><td>+161,048</td><td></td><td></td><td>308,621</td><td>147,574</td></tr><tr><td>1942-March</td><td>115,857</td><td>+21,925</td><td></td><td></td><td>40,599</td><td>18,674</td></tr><tr><td>April</td><td>133,620</td><td>+17,762</td><td></td><td></td><td>40,173</td><td>22,410</td></tr><tr><td>May</td><td>152,217</td><td>+18,597</td><td></td><td></td><td>47,990</td><td>29,393</td></tr><tr><td>June</td><td>166,341</td><td>+14,124</td><td></td><td></td><td>48,960</td><td>34,836</td></tr><tr><td>July</td><td>180,972</td><td>+14,631</td><td></td><td></td><td>53,815</td><td>39,185</td></tr><tr><td>August</td><td>187,618</td><td>+6,647</td><td></td><td></td><td>44,546</td><td>37,900</td></tr><tr><td>September</td><td>194,010</td><td>+6,392</td><td></td><td></td><td>47,682</td><td>41,290</td></tr><tr><td>October</td><td>206,044</td><td>+12,034</td><td></td><td></td><td>53,141</td><td>41,107</td></tr><tr><td>November</td><td>215,805</td><td>+9,121 3/ 4/</td><td>39,077 4/</td><td>-7,224</td><td>46,300</td><td>29,955</td></tr><tr><td>December</td><td>221,340</td><td>+5,536</td><td>43,920</td><td>-11,768</td><td>55,688</td><td>38,384</td></tr><tr><td>1943-January</td><td>224,901</td><td>+3,561</td><td>66,267</td><td>+15,856 p</td><td>50,411 p</td><td>62,706</td></tr><tr><td>February</td><td>224,356</td><td>-1,106 4/</td><td>54,667 4/</td><td>+11,281 p</td><td>43,386 p</td><td>55,773</td></tr><tr><td>March</td><td>226,216</td><td>+1,860 5/</td><td>49,630 5/</td><td>+639 p</td><td>48,990 p</td><td>47,958</td></tr></table>
Source: Commencing November 1, 1942, Daily Treasury Statements, except Post Office Department reports of gross sales; prior thereto, Post Office Department. Preliminary. Figures for November and following months are not strictly comparable with earlier months because of the shift to a Daily Treasury Statement basis. Stamps sold prior to October 1, 1942 were known as postal savings stamps and were obligations of the Postal
2/ Savings System but subsequently became public debt obligations. Sales and redemptions commence with May 1, 1941. The amount of the old series of postal savings stamps outstanding on April 30, 1941 was $150 thousands. 3/ Computed on basis of Daily Treasury Statement. See footnote 1/. 4/ Does not include amounts transferred from Postal Savings System to the Treasury to cover outstanding stamps.
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</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>1942-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>1,948</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>5,950</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</td><td>53,141</td><td>10,680</td><td>28,563</td><td>5,150</td><td>6,498</td><td>2,250</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</td><td>46,300</td><td>9,518</td><td>24,587</td><td>4,259</td><td>5,352</td><td>2,084</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><tr><td>December</td><td>55,688</td><td>11,719</td><td>29,142</td><td>4,596</td><td>7,100</td><td>3,130</td><td>100.0</td><td>21.0</td><td>52.3</td><td>8.3</td><td>12.8</td><td>5.6</td></tr><tr><td>1943-January p.</td><td>50,411</td><td>12,166</td><td>26,024</td><td>3,950</td><td>5,932</td><td>2,339</td><td>100.0</td><td>24.1</td><td>51.6</td><td>7.8</td><td>11.8</td><td>4.7</td></tr><tr><td>February p.</td><td>43,386</td><td>10,135</td><td>22,630</td><td>3,624</td><td>5,083</td><td>1,914</td><td>100.0</td><td>23.4</td><td>52.2</td><td>8.3</td><td>11.7</td><td>4.4</td></tr><tr><td>March p.</td><td>48,990</td><td>12,132</td><td>25,247</td><td>3,949</td><td>5,579</td><td>2,083</td><td>100.0</td><td>24.8</td><td>51.5</td><td>8.1</td><td>11.4</td><td>4.2</td></tr></table>
Source: Post Office Department p Preliminary.
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 1/</th><th>Exchanged for postal savings certificates</th><th>Cash 1/</th><th>Total</th><th>Exchanged for United States savings bonds 1/</th><th>Exchanged for postal savings certificates</th><th>Cash 1/</th></tr><tr><td>1941</td><td>943</td><td>2/2/</td><td>2/2/</td><td>2/2/</td><td>100.0</td><td>2/2/</td><td>2/2/</td><td>2/2/</td></tr><tr><td>July 1941</td><td>1,158</td><td></td><td></td><td></td><td>100.0</td><td></td><td></td><td></td></tr><tr><td>1942 (Aug. 1941 - June 1942)</td><td>146,415</td><td>127,948</td><td>123</td><td>18,344</td><td>100.0</td><td>87.4</td><td>.1</td><td>12.5</td></tr><tr><td>1942-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>19,953</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>29,333</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>41,290</td><td>36,561</td><td>11</td><td>4,715</td><td>100.0</td><td>87.6</td><td>*</td><td>11.4</td></tr><tr><td>October</td><td>41,107</td><td>36,188</td><td></td><td>4,919</td><td>100.0</td><td>88.0</td><td></td><td>12.0</td></tr><tr><td>November</td><td>29,955</td><td>26,220</td><td></td><td>3,735</td><td>100.0</td><td>.5</td><td></td><td>12.5</td></tr><tr><td>December</td><td>38,384</td><td>32,988</td><td></td><td>5,396</td><td>100.0</td><td>.9</td><td></td><td>14.1</td></tr><tr><td>1943-January</td><td>62,706</td><td>54,448</td><td></td><td>8,258</td><td>100.0</td><td>86.8</td><td></td><td>13.2</td></tr><tr><td>February</td><td>55,773</td><td>48,339</td><td></td><td>7,434</td><td>100.0</td><td>86.7</td><td></td><td>13.3</td></tr><tr><td>March</td><td>47,958</td><td>40,650</td><td></td><td>7,309</td><td>100.0</td><td>84.8</td><td></td><td>15.2</td></tr></table>
Source: Commencing November 1, 1942, Daily Treasury Statements; prior thereto, Post Office Department. Less than .05%.
1/ Commencing November 1, 1942, estimates on the basis of Post Office Department reports. 2/ Details not available for May, June, and July 1941.
43
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="10">1942</th><th colspan="3">1943</th></tr><tr><th></th><th>1941</th><th>1942</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>Jan.</th><th>Feb.</th><th>Mar.</th></tr><tr><td>Alabama</td><td>38.7</td><td>2,343.7</td><td>305.5</td><td>254.7</td><td>351.7</td><td>447.8</td><td>442.8</td><td>377.5</td><td>372.8</td><td>349.3</td><td>312.4</td><td>349.1</td><td>338.8</td><td>394.5</td><td>499.2</td></tr><tr><td>Arizona</td><td>16.0</td><td>834.8</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>148.4</td><td>132.5</td><td>191.5</td><td>171.8</td><td>157.6</td><td>158.0</td></tr><tr><td>Arkansas</td><td>24.8</td><td>1,674.7</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>264.7</td><td>251.4</td><td>278.5</td><td>260.2</td><td>110.3</td><td>251.6</td></tr><tr><td>California</td><td>428.0</td><td>20,132.6</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>3,602.5</td><td>3,048.7</td><td>4,122.0</td><td>3,590.1</td><td>2,488.6</td><td>3,322.4</td></tr><tr><td>Colorado</td><td>30.3</td><td>2,020.3</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>340.4</td><td>330.6</td><td>405.9</td><td>372.8</td><td>363.5</td><td>372.9</td></tr><tr><td>Connecticut</td><td>140.6</td><td>7,707.4</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>1,437.0</td><td>1,235.8</td><td>1,336.2</td><td>1,288.8</td><td>1,102.5</td><td>1,093.1</td></tr><tr><td>Delaware</td><td>14.5</td><td>714.2</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>123.3</td><td>124.3</td><td>131.5</td><td>120.7</td><td>99.3</td><td>101.8</td></tr><tr><td>Dist. of Columbia</td><td>174.1</td><td>6,100.1</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><td>519.5</td><td>498.5</td><td>442.9</td><td>453.2</td></tr><tr><td>Florida</td><td>75.0</td><td>3,705.9</td><td>507.9</td><td>457.6</td><td>583.0</td><td>498.7</td><td>531.0</td><td>415.9</td><td>462.5</td><td>533.1</td><td>471.8</td><td>600.3</td><td>573.8</td><td>397.0</td><td>562.9</td></tr><tr><td>Georgia</td><td>60.3</td><td>3,175.5</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>500.4</td><td>454.4</td><td>533.4</td><td>489.3</td><td>476.9</td><td>491.2</td></tr><tr><td>Idaho</td><td>8.1</td><td>841.0</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>112.4</td><td>132.0</td><td>128.3</td><td>138.4</td><td>126.0</td></tr><tr><td>Illinois</td><td>355.1</td><td>23,612.9</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>3,717.4</td><td>3,367.5</td><td>3,980.0</td><td>3,519.2</td><td>3,256.3</td><td>3,633.8</td></tr><tr><td>Indiana</td><td>69.7</td><td>7,516.9</td><td>1,078.6</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>1,400.6</td><td>1,226.6</td><td>1,378.5</td><td>1,273.5</td><td>1,016.7</td><td>1,195.7</td></tr><tr><td>Iowa</td><td>50.0</td><td>4,575.8</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>752.2</td><td>682.8</td><td>887.2</td><td>713.9</td><td>667.3</td><td>708.2</td></tr><tr><td>Kansas</td><td>40.2</td><td>2,532.9</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>476.6</td><td>424.4</td><td>507.4</td><td>510.6</td><td>542.1</td><td>533.4</td></tr><tr><td>Kentucky</td><td>42.8</td><td>3,036.2</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>510.8</td><td>423.6</td><td>507.2</td><td>482.5</td><td>351.0</td><td>457.6</td></tr><tr><td>Louisiana</td><td>62.0</td><td>3,428.0</td><td>438.3</td><td>460.4</td><td>582.0</td><td>606.0</td><td>649.6</td><td>450.2</td><td>455.2</td><td>521.4</td><td>481.6</td><td>548.7</td><td>551.9</td><td>328.4</td><td>558.6</td></tr><tr><td>Maine</td><td>37.2</td><td>1,725.5</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>339.8</td><td>282.7</td><td>328.7</td><td>311.8</td><td>301.1</td><td>309.7</td></tr><tr><td>Maryland</td><td>91.6</td><td>5,785.2</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>823.6</td><td>783.4</td><td>884.7</td><td>831.9</td><td>760.5</td><td>787.3</td></tr><tr><td>Massachusetts</td><td>312.2</td><td>14,413.6</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>2,605.1</td><td>2,129.1</td><td>2,468.8</td><td>2,397.9</td><td>1,983.8</td><td>2,264.7</td></tr><tr><td>Michigan</td><td>366.8</td><td>13,721.6</td><td>1,766.9</td><td>1,704.0</td><td>2,125.5</td><td>2,256.2</td><td>2,581.1</td><td>1,973.6</td><td>2,152.4</td><td>2,440.5</td><td>2,013.3</td><td>2,405.9</td><td>2,073.6</td><td>1,498.6</td><td>2,205.2</td></tr><tr><td>Minnesota</td><td>51.6</td><td>4,037.7</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>656.5</td><td>614.8</td><td>767.8</td><td>801.6</td><td>720.2</td><td>694.0</td></tr><tr><td>Miesissippi</td><td>36.7</td><td>1,508.8</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>313.9</td><td>292.3</td><td>277.9</td><td>266.7</td><td>202.5</td><td>236.3</td></tr><tr><td>Missouri</td><td>173.5</td><td>7,326.4</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>1,248.4</td><td>1,183.7</td><td>1,328.0</td><td>1,267.4</td><td>1,101.9</td><td>1,220.1</td></tr><tr><td>Montana</td><td>17.2</td><td>1,030.7</td><td>148.2</td><td>137.5</td><td>149.7</td><td>128.2</td><td>181.3</td><td>135.2</td><td>148.2</td><td>159.3</td><td>182.7</td><td>203.0</td><td>179.5</td><td>170.9</td><td>79.0</td></tr><tr><td>Nebraska</td><td>36.2</td><td>2,371.8</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>396.3</td><td>351.0</td><td>436.9</td><td>399.7</td><td>237.0</td><td>373.0</td></tr><tr><td>Nevada</td><td>6.5</td><td>381.4</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>56.7</td><td>55.9</td><td>76.4</td><td>53.9</td><td>52.6</td><td>58.0</td></tr><tr><td>New Hampshire</td><td>29.0</td><td>1,150.8</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>219.9</td><td>180.6</td><td>206.3</td><td>203.6</td><td>168.5</td><td>173.7</td></tr><tr><td>New Jersey</td><td>286.0</td><td>13,313.1</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>2,205.3</td><td>1,908.5</td><td>2,248.0</td><td>1,679.1</td><td>1,838.2</td><td>1,995.5</td></tr><tr><td>New Mexico</td><td>9.9</td><td>720.3</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>116.2</td><td>92.5</td><td>124.7</td><td>124.2</td><td>49.5</td><td>106.3</td></tr><tr><td>New York</td><td>1,350.5</td><td>53,060.7</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>10,758.8</td><td>9,028.1</td><td>10,426.5</td><td>8,646.4</td><td>8,024.5</td><td>8,807.2</td></tr><tr><td>North Carolina</td><td>50.8</td><td>3,089.7</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>565.1</td><td>639.5</td><td>548.5</td><td>638.7</td><td>698.8</td><td>598.7</td><td>626.5</td></tr><tr><td>North Dakota</td><td>10.4</td><td>801.8</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>117.3</td><td>123.6</td><td>151.0</td><td>146.8</td><td>141.7</td><td>121.5</td></tr><tr><td>Ohio</td><td>293.7</td><td>18,269.5</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>2,842.3</td><td>2,519.8</td><td>3,255.3</td><td>3,061.9</td><td>2,485.8</td><td>2,804.6</td></tr><tr><td>Oklahoma</td><td>44.9</td><td>2,489.1</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>383.0</td><td>333.7</td><td>402.2</td><td>413.2</td><td>382.3</td><td>379.7</td></tr><tr><td>Oregon</td><td>59.1</td><td>2,739.3</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>429.7</td><td>356.7</td><td>522.1</td><td>611.0</td><td>328.7</td><td>456.1</td></tr><tr><td>Pennsylvania</td><td>419.5</td><td>27,075.3</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>4,597.8</td><td>3,971.6</td><td>4,731.8</td><td>4,568.1</td><td>4,019.4</td><td>4,349.1</td></tr><tr><td>Rhode Island</td><td>58.8</td><td>3,087.6</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>527.2</td><td>417.2</td><td>493.1</td><td>410.9</td><td>360.1</td><td>392.4</td></tr><tr><td>South Carolina</td><td>30.3</td><td>1,488.2</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>183.4</td><td>156.1</td><td>152.5</td><td>237.5</td><td>100.9</td><td>197.5</td><td>191.8</td></tr><tr><td>South Dakota</td><td>10.4</td><td>832.2</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>127.8</td><td>134.4</td><td>142.6</td><td>139.7</td><td>138.9</td><td>149.2</td></tr><tr><td>Tennessee</td><td>58.8</td><td>2,952.8</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>525.1</td><td>454.9</td><td>523.9</td><td>516.4</td><td>327.7</td><td>455.2</td></tr><tr><td>Texas</td><td>276.5</td><td>11,520.8</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>1,807.2</td><td>1,601.1</td><td>2,006.3</td><td>1,740.2</td><td>1,205.2</td><td>1,653.7</td></tr><tr><td>Utah</td><td>11.6</td><td>963.4</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>169.3</td><td>220.0</td><td>366.7</td><td>254.4</td><td>192.2</td><td>222.9</td></tr><tr><td>Vermont</td><td>14.7</td><td>705.8</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>104.6</td><td>122.0</td><td>80.4</td><td>102.0</td><td>41.5</td></tr><tr><td>Virginia</td><td>71.6</td><td>4,051.8</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>640.3</td><td>586.7</td><td>669.7</td><td>693.6</td><td>948.7</td><td>671.9</td></tr><tr><td>Washington</td><td>75.0</td><td>3,909.2</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>684.2</td><td>601.4</td><td>822.0</td><td>926.5</td><td>758.8</td><td>681.1</td></tr><tr><td>West Virginia</td><td>32.4</td><td>2,449.7</td><td>365.1</td><td>342.9</td><td>375.5</td><td>337.5</td><td>355.3</td><td>305.4</td><td>314.2</td><td>391.5</td><td>320.4</td><td>398.0</td><td>382.0</td><td>351.8</td><td>378.9</td></tr><tr><td>Wisconsin</td><td>104.7</td><td>5,728.3</td><td>813.0</td><td>820.1</td><td>931.7</td><td>826.0</td><td>1,054.6</td><td>876.0</td><td>953.1</td><td>1,129.0</td><td>983.2</td><td>1,217.6</td><td>1,150.2</td><td>1,101.5</td><td>1,
Source: Post Office Department. p Preliminary.
44
Sales of Tax Series Treasury Notes
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 (par value)</th><th rowspan="2">Net change during fiscal year or month</th><th colspan="4">Analysis of net change</th><th rowspan="2">Redemptions (par value)</th></tr><tr><th>Total funds received</th><th>Adjustment of sales reported to funds received</th><th>Sales reported</th><th>Exchanged (par value)</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>1942-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>+342.1</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>+4.0</td><td>777.6</td><td></td><td>42.6</td></tr><tr><td>December</td><td>6,384.1</td><td>+681.5</td><td>1,312.3</td><td>-22.6</td><td>1,334.9</td><td></td><td>630.8</td></tr><tr><td>1943-January</td><td>6,748.8</td><td>+364.8</td><td>452.9</td><td>+31.6</td><td>421.3</td><td></td><td>88.1</td></tr><tr><td>February</td><td>7,124.7</td><td>+375.9</td><td>456.6</td><td>+15.9</td><td>440.7</td><td></td><td>80.7</td></tr><tr><td>March</td><td>6,345.6</td><td>-779.1</td><td>446.8</td><td>-1.2</td><td>448.0</td><td></td><td>1,225.9</td></tr><tr><td colspan="8">Series A</td></tr><tr><td>1942 2/</td><td>54.8</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>1942-March</td><td>45.1</td><td>-5.5</td><td>5.3</td><td>-1</td><td>5.4</td><td></td><td>10.8</td></tr><tr><td>April</td><td>48.5</td><td>+3.4</td><td>4.6</td><td>*</td><td>4.6</td><td></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</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>+3</td><td>33.2</td><td></td><td>.4</td></tr><tr><td>December</td><td>276.0</td><td>+75.9</td><td>86.0</td><td>-7</td><td>86.7</td><td></td><td>10.1</td></tr><tr><td>1943-January</td><td>309.4</td><td>+33.4</td><td>34.5</td><td>+2.1</td><td>32.4</td><td></td><td>1.0</td></tr><tr><td>February</td><td>320.0</td><td>+10.5</td><td>13.0</td><td>+4</td><td>12.6</td><td></td><td>2.5</td></tr><tr><td>March</td><td>285.4</td><td>-34.6</td><td>15.3</td><td>+3</td><td>15.0</td><td></td><td>49.9</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>1942-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>+4.0</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>-41.5</td><td></td><td></td><td></td><td></td><td>41.5</td></tr><tr><td>December</td><td>2,432.7</td><td>-593.2</td><td></td><td></td><td></td><td></td><td>593.2</td></tr><tr><td>1943-January</td><td>2,364.2</td><td>-68.5</td><td></td><td></td><td></td><td></td><td>68.5</td></tr><tr><td>February</td><td>2,311.4</td><td>-52.8</td><td></td><td></td><td></td><td></td><td>52.8</td></tr><tr><td>March</td><td>1,488.4</td><td>-823.0</td><td></td><td></td><td></td><td></td><td>823.0</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>+3.7</td><td>744.5</td><td></td><td>.8</td></tr><tr><td>December</td><td>3,675.3</td><td>+1,198.8</td><td>1,226.3</td><td>-22.0</td><td>1,248.2</td><td></td><td>27.4</td></tr><tr><td>1943-January</td><td>4,075.2</td><td>+399.9</td><td>418.4</td><td>+29.5</td><td>388.9</td><td></td><td>18.5</td></tr><tr><td>February</td><td>4,493.4</td><td>+418.2</td><td>443.7</td><td>+15.6</td><td>428.1</td><td></td><td>25.5</td></tr><tr><td>March</td><td>4,571.8</td><td>+78.4</td><td>431.5</td><td>-1.5</td><td>433.0</td><td></td><td>353.1</td></tr></table>
Source: Daily Treasury Statement and reports of gross sales.
* Less than $50,000.
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 par value. If not pre-seated 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 .88 percent per annum, and the amount which may be turned in on taxes is unlimited.
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 amounts 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/ Sale of Tax Series Treasury notes began in August 1941.
45
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 rowspan="2">Total all denominations</th><th colspan="8">Sales in millions of dollars at par</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th colspan="5">Thousands of dollars</th><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th colspan="5">Thousands of dollars</th></tr><tr><th colspan="10">Series A</th><th colspan="10">Series A</th></tr><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></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><td></td></tr><tr><td>1942-Mar....</td><td>5.4</td><td>.2</td><td>.3</td><td>3.3</td><td>.6</td><td>1.0</td><td></td><td></td><td></td><td>100.0</td><td>3.2</td><td>5.1</td><td>62.1</td><td>10.5</td><td>19.1</td><td></td><td></td><td></td></tr><tr><td>Apr....</td><td>4.6</td><td>.2</td><td>.3</td><td>2.8</td><td>.5</td><td>.9</td><td></td><td></td><td></td><td>100.0</td><td>3.6</td><td>5.8</td><td>60.1</td><td>10.6</td><td>19.9</td><td></td><td></td><td></td></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></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><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></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><td></td></tr><tr><td>July....</td><td>6.0</td><td>.2</td><td>.4</td><td>3.3</td><td>.8</td><td>1.4</td><td></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><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></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><td></td></tr><tr><td>Sept. 2/</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></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><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></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><td></td></tr><tr><td>Nov....</td><td>33.2</td><td>.4</td><td>.8</td><td>5.4</td><td>6.8</td><td>14.9</td><td>5.0</td><td></td><td></td><td>100.0</td><td>1.2</td><td>2.3</td><td>16.1</td><td>20.4</td><td>44.8</td><td>15.1</td><td></td><td></td></tr><tr><td>Dec....</td><td>86.7</td><td>1.1</td><td>2.0</td><td>13.7</td><td>17.7</td><td>39.3</td><td>12.9</td><td></td><td></td><td>100.0</td><td>1.3</td><td>2.3</td><td>15.8</td><td>20.4</td><td>45.3</td><td>14.9</td><td></td><td></td></tr><tr><td>1943-Jan....</td><td>32.4</td><td>.6</td><td>.9</td><td>6.0</td><td>7.0</td><td>13.9</td><td>3.9</td><td></td><td></td><td>100.0</td><td>1.8</td><td>2.9</td><td>18.7</td><td>21.8</td><td>42.8</td><td>12.0</td><td></td><td></td></tr><tr><td>Feb....</td><td>12.6</td><td>.3</td><td>.4</td><td>2.4</td><td>2.4</td><td>5.3</td><td>1.8</td><td></td><td></td><td>100.0</td><td>2.2</td><td>3.4</td><td>19.4</td><td>18.9</td><td>42.0</td><td>14.0</td><td></td><td></td></tr><tr><td>Mar....</td><td>15.0</td><td>.3</td><td>.4</td><td>2.9</td><td>2.9</td><td>6.3</td><td>2.2</td><td></td><td></td><td>100.0</td><td>1.7</td><td>3.0</td><td>19.4</td><td>19.5</td><td>41.7</td><td>14.6</td><td></td><td></td></tr><tr><th colspan="10">Series B</th><th colspan="10">Series B</th></tr><tr><td>1942 1/</td><td>4,084.1</td><td></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>1942-Mar....</td><td>231.9</td><td></td><td></td><td>.5</td><td>1.1</td><td>10.9</td><td>33.4</td><td>74.5</td><td>31.5</td><td>80.0</td><td>100.0</td><td></td><td>.2</td><td>.5</td><td>4.7</td><td>14.4</td><td>32.1</td><td>13.6</td><td>34.5</td></tr><tr><td>Apr....</td><td>256.4</td><td></td><td></td><td>.5</td><td>.9</td><td>10.6</td><td>39.8</td><td>108.2</td><td>34.5</td><td>62.0</td><td>100.0</td><td></td><td>.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></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></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></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></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></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><tr><th colspan="10">Series O</th><th colspan="10">Series O</th></tr><tr><td>1942-Sept....</td><td>806.1</td><td></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>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></td><td>19.8</td><td>31.6</td><td>150.1</td><td>297.2</td><td>114.5</td><td>224.0</td><td>100.0</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....</td><td>714.5</td><td></td><td></td><td></td><td>17.0</td><td>26.3</td><td>126.7</td><td>230.0</td><td>71.5</td><td>273.0</td><td>100.0</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>36.7</td></tr><tr><td>Dec....</td><td>1,248.2</td><td></td><td></td><td></td><td>41.1</td><td>67.8</td><td>254.8</td><td>395.5</td><td>208.0</td><td>281.0</td><td>100.0</td><td></td><td></td><td>3.3</td><td>5.4</td><td>20.4</td><td>31.7</td><td>16.7</td><td>22.5</td></tr><tr><td>1943-Jan....</td><td>388.9</td><td></td><td></td><td></td><td>15.6</td><td>20.4</td><td>79.1</td><td>139.8</td><td>63.0</td><td>71.0</td><td>100.0</td><td></td><td></td><td>4.0</td><td>5.2</td><td>20.3</td><td>35.9</td><td>16.2</td><td>18.3</td></tr><tr><td>Feb....</td><td>428.1</td><td></td><td></td><td></td><td>9.3</td><td>13.2</td><td>56.4</td><td>137.1</td><td>70.0</td><td>142.0</td><td>100.0</td><td></td><td></td><td>2.2</td><td>3.1</td><td>13.2</td><td>32.0</td><td>16.4</td><td>33.2</td></tr><tr><td>Mar....</td><td>433.0</td><td></td><td></td><td></td><td>10.1</td><td>13.3</td><td>66.4</td><td>123.2</td><td>79.0</td><td>141.0</td><td>100.0</td><td></td><td></td><td>2.3</td><td>3.1</td><td>15.3</td><td>28.5</td><td>18.2</td><td>32.6</td></tr></table>
Source: Reports of gross sales. 1/ Sales of Tax Series Treasury notes began in August 1941. 2/ Sale of $5,000 denomination Series A notes began in September 1942.
46
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>1942-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</td><td>777.6</td><td>86.7</td><td>691.0</td><td>100.0</td><td>11.1</td><td>88.9</td></tr><tr><td>December</td><td>1,334.9</td><td>187.6</td><td>1,147.3</td><td>100.0</td><td>14.1</td><td>85.9</td></tr><tr><td>1943-January</td><td>421.3</td><td>61.7</td><td>359.5</td><td>100.0</td><td>14.7</td><td>85.3</td></tr><tr><td>February</td><td>440.7</td><td>37.9</td><td>402.8</td><td>100.0</td><td>8.6</td><td>91.4</td></tr><tr><td>March</td><td>448.0</td><td>63.6</td><td>384.3</td><td>100.0</td><td>14.2</td><td>85.8</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>1942-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</td><td>33.2</td><td>26.1</td><td>7.1</td><td>100.0</td><td>78.7</td><td>21.3</td></tr><tr><td>December</td><td>86.7</td><td>65.8</td><td>20.9</td><td>100.0</td><td>75.9</td><td>24.1</td></tr><tr><td>1943-January</td><td>32.4</td><td>26.8</td><td>5.6</td><td>100.0</td><td>82.6</td><td>17.4</td></tr><tr><td>February</td><td>12.6</td><td>10.0</td><td>2.6</td><td>100.0</td><td>79.2</td><td>20.8</td></tr><tr><td>March</td><td>15.0</td><td>12.2</td><td>2.8</td><td>100.0</td><td>81.6</td><td>18.4</td></tr><tr><td colspan="7">Serioe 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>1942-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</td><td>744.5</td><td>60.6</td><td>683.9</td><td>100.0</td><td>8.1</td><td>91.9</td></tr><tr><td>December</td><td>1,248.2</td><td>121.8</td><td>1,126.4</td><td>100.0</td><td>9.8</td><td>90.2</td></tr><tr><td>1943-January</td><td>388.9</td><td>35.0</td><td>353.9</td><td>100.0</td><td>9.0</td><td>91.0</td></tr><tr><td>February</td><td>428.1</td><td>27.9</td><td>400.2</td><td>100.0</td><td>6.5</td><td>93.5</td></tr><tr><td>March</td><td>433.0</td><td>51.4</td><td>381.6</td><td>100.0</td><td>11.9</td><td>88.1</td></tr></table>
Source: Reports of gross sales. 1/ Sales of Tax Series Treasury notes began in August 1941.
47
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 redemptions</th><th>Total</th><th>Means of payment<br>Received for taxes</th><th>Cash 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>1942-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>1.2</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>December</td><td>630.8</td><td>626.2</td><td>4.6</td><td>100.0</td><td>99.3</td><td>.7</td></tr><tr><td>1943-January</td><td>88.1</td><td>86.4</td><td>1.8</td><td>100.0</td><td>98.0</td><td>2.0</td></tr><tr><td>February</td><td>80.7</td><td>78.8</td><td>2.0</td><td>100.0</td><td>97.5</td><td>2.5</td></tr><tr><td>March</td><td>1,225.9</td><td>1,214.1</td><td>11.8</td><td>100.0</td><td>99.0</td><td>1.0</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>1942-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>.4</td><td>.2</td><td>.2</td><td>100.0</td><td>47.4</td><td>52.6</td></tr><tr><td>November</td><td>.4</td><td>.2</td><td>.2</td><td>100.0</td><td>48.7</td><td>51.3</td></tr><tr><td>December</td><td>10.1</td><td>9.8</td><td>.3</td><td>100.0</td><td>96.9</td><td>3.1</td></tr><tr><td>1943-January</td><td>1.0</td><td>.5</td><td>.5</td><td>100.0</td><td>48.7</td><td>51.3</td></tr><tr><td>February</td><td>2.5</td><td>1.8</td><td>.6</td><td>100.0</td><td>74.6</td><td>25.4</td></tr><tr><td>March</td><td>49.9</td><td>47.5</td><td>2.3</td><td>100.0</td><td>95.4</td><td>4.6</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>1942-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>December</td><td>593.2</td><td>589.0</td><td>4.2</td><td>100.0</td><td>99.3</td><td>.7</td></tr><tr><td>1943-January</td><td>68.5</td><td>67.4</td><td>1.1</td><td>100.0</td><td>98.4</td><td>1.6</td></tr><tr><td>February</td><td>52.8</td><td>52.4</td><td>.4</td><td>100.0</td><td>99.3</td><td>.7</td></tr><tr><td>March</td><td>823.0</td><td>820.7</td><td>2.2</td><td>100.0</td><td>99.7</td><td>.3</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>.4</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><tr><td>December</td><td>27.4</td><td>27.4</td><td>.0</td><td>100.0</td><td>99.9</td><td>.1</td></tr><tr><td>1943-January</td><td>18.5</td><td>18.4</td><td>.1 3/</td><td>100.0</td><td>99.3</td><td>.7</td></tr><tr><td>February</td><td>25.5</td><td>24.5</td><td>1.0 3/</td><td>100.0</td><td>96.2</td><td>3.8</td></tr><tr><td>March</td><td>353.1</td><td>345.8</td><td>7.2</td><td>100.0</td><td>98.0</td><td>2.0</td></tr></table>
Source: Daily Treasury Statements. Lees 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
- 48 -
49
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued by United States Government and Guaranteed by United States
(in millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="7">Distribution by classes of holders</th><th colspan="4">Distribution by classes of holders</th></tr><tr><th>Total amount outstanding</th><th colspan="3">U. S. Government agencies and trust funds 2/</th><th>Federal Reserve Banks 3/</th><th colspan="3">Private investors 4/</th><th>Total amount unmatured outstanding</th><th colspan="3">U. S. Government agencies and trust funds and Federal Reserve Banks 2/</th><th>Private investors 4/</th></tr><tr><th></th><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>Public marketable issues</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><td>-</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><td>-</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><td>-</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><td>-</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><td></td></tr><tr><td>1938</td><td>35,576</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><td>-</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>29,584</td><td>2,151</td><td>5,450</td><td>286</td><td>5,164</td><td>-</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><td>-</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><td>-</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><td>-</td></tr><tr><td>1942-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><td>-</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>5,371</td><td>-</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><td>-</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><td>-</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><td>37</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><td>53</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><td>37</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><td>48</td></tr><tr><td>Nov.</td><td>95,458</td><td>11,400</td><td>2,608</td><td>4</td><td>8,787</td><td>5,377</td><td>78,682</td><td>58,569</td><td>20,113</td><td>4,244</td><td>332</td><td>3,863</td><td>48</td></tr><tr><td>Dec.</td><td>107,308</td><td>11,928</td><td>2,891</td><td>5</td><td>9,032</td><td>6,152</td><td>89,228</td><td>67,445</td><td>21,783</td><td>4,283</td><td>348</td><td>3,848</td><td>87</td></tr><tr><td>1943-Jan.</td><td>110,024</td><td>12,056</td><td>2,878</td><td>6</td><td>9,172</td><td>5,133</td><td>92,049</td><td>68,699</td><td>23,350</td><td>4,277</td><td>361</td><td>3,835</td><td>81</td></tr><tr><td>Feb.</td><td>112,851</td><td>12,397</td><td>2,826</td><td>6</td><td>9,565</td><td>5,821</td><td>94,632</td><td>70,079</td><td>24,554</td><td>4,275</td><td>343</td><td>3,853</td><td>79</td></tr><tr><td>Mar.</td><td>114,287</td><td>12,812p</td><td>2,802p</td><td>6p</td><td>10,004</td><td>5,877</td><td>95,598p</td><td>70,983p</td><td>24,615p</td><td>4,350</td><td>288p</td><td>3,984p</td><td>78</td></tr></table>
(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) Secu- rities held by Federal Reserve Banks; Federal Reserve System. p Preliminary. 1/ Less than $500,000. 1/ Excludes matured securities and obligations sold directly to the Treasury. 2/ Excludes Exchange Stabilisation 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 rowspan="2"></th><th colspan="12">Net market purchases or sales (-)</th></tr><tr><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td>-37.1</td><td>-40.4</td><td>5.0</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-3</td><td>-4.4</td><td>-.3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-7</td><td>-2</td><td>.4</td><td>.</td><td>-</td><td>.</td><td>-2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-1.5</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>-4.5</td><td>-1.0</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>-14.5</td><td>-90.3</td><td>-72.9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></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.
50
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, February 28, 1943
The following tables present summary data from the Treasury survey, as of February 28, 1943, of the ownership of securities issued or guaranteed by the United States. The large commercial and savings banks and insurance companies covered in the survey account for approximately 95 percent of the holdings of United States Government and government-guaranteed securities held by all banks and insurance companies in the United States.
Table I.- Analysis of Ownership by Type of Security, by Call Classes, and by Tax-Exemption Provisions
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th 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 6,977 institutions</th><th>Total 5,739 commercial banks</th><th>490 mutual savings banks</th><th>Total 748 insurance companies</th><th>198 life insurance companies</th><th>550 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>8,232</td><td>5,390</td><td>5,326</td><td>5,302</td><td>24</td><td>63</td><td>56</td><td>8</td><td>1,487</td><td>1,355</td></tr><tr><td>Certificates of indebtedness</td><td>11,161</td><td>7,304</td><td>7,044</td><td>6,837</td><td>206</td><td>261</td><td>101</td><td>160</td><td>818</td><td>3,039</td></tr><tr><td>Treasury notes</td><td>9,863</td><td>6,179</td><td>5,882</td><td>5,699</td><td>183</td><td>298</td><td>169</td><td>128</td><td>1,276</td><td>2,407</td></tr><tr><td>Treasury bonds</td><td>49,273</td><td>34,161</td><td>24,203</td><td>20,136</td><td>4,067</td><td>9,958</td><td>8,383</td><td>1,575</td><td>5,032</td><td>10,081</td></tr><tr><td>Other bonds</td><td>196</td><td>12</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>*</td><td>33</td><td>150</td></tr><tr><td>Guaranteed issues 3/</td><td>4,196</td><td>3,100</td><td>2,772</td><td>2,664</td><td>107</td><td>329</td><td>276</td><td>53</td><td>343</td><td>753</td></tr><tr><td>Total</td><td>82,921</td><td>56,147</td><td>45,238</td><td>40,649</td><td>4,589</td><td>10,909</td><td>8,985</td><td>1,924</td><td>8,990</td><td>17,784</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>23,489</td><td>14,777</td><td>14,217</td><td>13,879</td><td>338</td><td>561</td><td>307</td><td>253</td><td>2,822</td><td>5,890</td></tr><tr><td>1 to 5 years</td><td>20,057</td><td>13,309</td><td>11,510</td><td>10,861</td><td>649</td><td>1,800</td><td>1,342</td><td>458</td><td>2,371</td><td>4,377</td></tr><tr><td>5 to 10 years</td><td>22,788</td><td>17,217</td><td>14,412</td><td>12,451</td><td>1,962</td><td>2,805</td><td>2,285</td><td>520</td><td>2,041</td><td>3,530</td></tr><tr><td>10 to 15 years</td><td>6,447</td><td>4,028</td><td>2,650</td><td>2,142</td><td>508</td><td>1,378</td><td>1,117</td><td>261</td><td>757</td><td>1,662</td></tr><tr><td>15 to 20 years</td><td>4,572</td><td>3,250</td><td>858</td><td>597</td><td>262</td><td>2,392</td><td>2,094</td><td>258</td><td>406</td><td>916</td></tr><tr><td>Over 20 years</td><td>5,547</td><td>3,547</td><td>1,584</td><td>714</td><td>870</td><td>1,963</td><td>1,828</td><td>135</td><td>593</td><td>1,408</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>19</td><td>7</td><td>6</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>2</td></tr><tr><td>Total</td><td>82,921</td><td>56,147</td><td>45,238</td><td>40,649</td><td>4,589</td><td>10,909</td><td>8,985</td><td>1,924</td><td>8,990</td><td>17,784</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>3,457</td><td>1,204</td><td>1,125</td><td>1,105</td><td>20</td><td>79</td><td>30</td><td>49</td><td>527</td><td>1,726</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>29,469</td><td>19,543</td><td>14,741</td><td>13,506</td><td>1,234</td><td>4,802</td><td>3,625</td><td>1,177</td><td>3,573</td><td>6,353</td></tr><tr><td>Subject to Federal income taxes</td><td>49,995</td><td>35,400</td><td>29,372</td><td>26,038</td><td>3,334</td><td>6,028</td><td>5,330</td><td>698</td><td>4,889</td><td>9,705</td></tr><tr><td>Total</td><td>82,921</td><td>56,147</td><td>45,238</td><td>40,649</td><td>4,589</td><td>10,909</td><td>8,985</td><td>1,924</td><td>8,990</td><td>17,784</td></tr></table>
(Continued on following page)
51
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, February 28, 1943 - (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 rowspan="2">Classification</th><th colspan="8">Public marketable interest-bearing securities 1/</th></tr><tr><th>Total amount outstanding</th><th>Total 6,977 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="2">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>6,229 commercial banks</th><th>490 mutual-aid banks</th><th>Total</th><th>748 insurance companies</th><th>193 life insurance companies</th><th>550 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></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>9.9</td><td>9.6</td><td>11.8</td><td>13.0</td><td>.5</td><td>.6</td><td>.6</td><td>.4</td><td>16.5</td><td>7.6</td></tr><tr><td>Certificate of indebtedness</td><td>13.5</td><td>13.0</td><td>15.6</td><td>16.8</td><td>4.5</td><td>2.4</td><td>1.1</td><td>8.3</td><td>9.1</td><td>17.1</td></tr><tr><td>Treasury notes</td><td>11.9</td><td>11.0</td><td>13.0</td><td>14.0</td><td>4.0</td><td>2.7</td><td>1.9</td><td>6.7</td><td>14.2</td><td>13.5</td></tr><tr><td>Treasury bonds</td><td>59.4</td><td>60.8</td><td>53.5</td><td>49.5</td><td>88.6</td><td>91.3</td><td>93.3</td><td>81.9</td><td>56.0</td><td>56.7</td></tr><tr><td>Other bonds</td><td>.2</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>.4</td><td>.8</td></tr><tr><td>Guaranteed issues 3/</td><td>5.1</td><td>5.5</td><td>6.1</td><td>6.6</td><td>2.3</td><td>3.0</td><td>3.1</td><td>2.7</td><td>3.8</td><td>4.2</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>28.3</td><td>26.3</td><td>31.4</td><td>34.1</td><td>7.4</td><td>5.1</td><td>3.4</td><td>13.2</td><td>31.4</td><td>33.1</td></tr><tr><td>1 to 5 years</td><td>24.2</td><td>23.7</td><td>25.4</td><td>26.7</td><td>14.1</td><td>16.5</td><td>14.9</td><td>23.8</td><td>26.4</td><td>24.6</td></tr><tr><td>5 to 10 years</td><td>27.5</td><td>30.7</td><td>31.9</td><td>30.6</td><td>42.7</td><td>25.7</td><td>25.4</td><td>27.0</td><td>22.7</td><td>19.9</td></tr><tr><td>10 to 15 years</td><td>7.8</td><td>7.2</td><td>5.9</td><td>5.3</td><td>11.1</td><td>12.6</td><td>12.4</td><td>13.6</td><td>8.4</td><td>9.3</td></tr><tr><td>15 to 20 years</td><td>5.5</td><td>5.8</td><td>1.9</td><td>1.5</td><td>5.7</td><td>21.9</td><td>23.3</td><td>15.5</td><td>4.5</td><td>5.2</td></tr><tr><td>Over 20 years</td><td>6.7</td><td>6.3</td><td>3.5</td><td>1.8</td><td>19.0</td><td>18.0</td><td>20.3</td><td>7.0</td><td>6.6</td><td>7.9</td></tr><tr><td>Federal Housing Administration debentures</td><td></td><td></td><td></td><td></td><td></td><td>.1</td><td>.1</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>4.2</td><td>2.1</td><td>2.5</td><td>2.7</td><td>.4</td><td>.7</td><td>.3</td><td>2.5</td><td>5.9</td><td>9.7</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>35.5</td><td>34.8</td><td>32.6</td><td>33.2</td><td>26.9</td><td>44.0</td><td>40.3</td><td>61.2</td><td>39.7</td><td>35.7</td></tr><tr><td>Subject to Federal income taxes</td><td>60.3</td><td>63.0</td><td>64.9</td><td>64.1</td><td>72.7</td><td>55.3</td><td>59.3</td><td>36.3</td><td>54.4</td><td>54.6</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="6">Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 6,977 institutions</th><th colspan="3">6,229 banks</th><th colspan="3">748 insurance companies</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,739 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>198 life insurance companies</th><th>550 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><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>65.5</td><td>64.7</td><td>64.4</td><td>.3</td><td>.8</td><td>.7</td><td>.1</td><td>18.1</td><td>16.5</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>65.4</td><td>63.1</td><td>61.3</td><td>1.8</td><td>2.3</td><td>.9</td><td>1.4</td><td>7.3</td><td>27.2</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>62.7</td><td>59.6</td><td>57.8</td><td>1.9</td><td>3.0</td><td>1.7</td><td>1.3</td><td>12.9</td><td>24.4</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>69.3</td><td>49.1</td><td>40.9</td><td>8.3</td><td>20.2</td><td>17.0</td><td>3.2</td><td>10.2</td><td>20.5</td></tr><tr><td>Other bonds</td><td>100.0</td><td>6.3</td><td>6.0</td><td>5.9</td><td>.1</td><td>.3</td><td>.1</td><td>.2</td><td>17.1</td><td>76.6</td></tr><tr><td>Guaranteed issues 3/</td><td>100.0</td><td>73.9</td><td>66.1</td><td>63.5</td><td>2.6</td><td>7.8</td><td>6.6</td><td>1.3</td><td>8.2</td><td>17.9</td></tr><tr><td>Total</td><td>100.0</td><td>67.7</td><td>54.6</td><td>49.0</td><td>5.5</td><td>13.2</td><td>10.8</td><td>2.3</td><td>10.8</td><td>21.4</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>62.9</td><td>60.5</td><td>59.1</td><td>1.4</td><td>2.4</td><td>1.3</td><td>1.1</td><td>12.0</td><td>25.1</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>66.4</td><td>57.4</td><td>54.1</td><td>3.2</td><td>9.0</td><td>6.7</td><td>2.3</td><td>11.8</td><td>21.8</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>75.6</td><td>63.2</td><td>54.6</td><td>8.6</td><td>12.3</td><td>10.0</td><td>2.3</td><td>9.0</td><td>15.5</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>62.5</td><td>41.1</td><td>33.2</td><td>7.9</td><td>21.4</td><td>17.3</td><td>4.0</td><td>11.7</td><td>25.8</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>71.1</td><td>18.8</td><td>13.0</td><td>5.7</td><td>52.3</td><td>45.8</td><td>6.5</td><td>8.9</td><td>20.0</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>63.9</td><td>28.6</td><td>12.9</td><td>15.7</td><td>35.4</td><td>33.0</td><td>2.4</td><td>10.7</td><td>25.4</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>86.6</td><td>31.6</td><td>29.2</td><td>2.4</td><td>55.1</td><td>54.8</td><td>.3</td><td>5.3</td><td>8.0</td></tr><tr><td>Total</td><td>100.0</td><td>67.7</td><td>54.6</td><td>49.0</td><td>5.5</td><td>13.2</td><td>10.8</td><td>2.3</td><td>10.8</td><td>21.4</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>34.8</td><td>32.5</td><td>32.0</td><td>.6</td><td>2.3</td><td>.9</td><td>1.4</td><td>15.3</td><td>49.9</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>100.0</td><td>66.3</td><td>50.0</td><td>45.8</td><td>4.2</td><td>16.3</td><td>12.3</td><td>4.0</td><td>12.1</td><td>21.5</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>70.8</td><td>58.7</td><td>52.1</td><td>6.7</td><td>12.1</td><td>10.7</td><td>1.4</td><td>9.8</td><td>19.4</td></tr><tr><td>Total</td><td>100.0</td><td>67.7</td><td>54.6</td><td>49.0</td><td>5.5</td><td>13.2</td><td>10.8</td><td>2.3</td><td>10.8</td><td>21.4</td></tr></table>
Less than $500,000 or less than .05%.
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, $125 millions; (2) United States savings bonds: commercial banks, $193 millions; mutual savings banks, $100 millions; insurance companies, $128 millions; all institutions, $421 millions; (3) tax series notes: commercial banks, $53 millions; mutual savings banks, $5 millions; insurance companies, $34 millions;
all institutions, $97 millions; (4) Commodity Credit Corporation demand obligations: holdings of these obligations are not reported.
2/ Excludes Exchange Stabilization Fund.
3/ Excludes obligations sold directly to the Treasury.
4/ Securities the income from which is exempt from the normal rates and the surtax rates of the Federal income tax.
5/ Securities the income from which is exempt from the normal rates of the Federal income tax. (In the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any single holder is also exempt from the surtax rates of the Federal income tax.)
52
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, February 28, 1943 - (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 colspan="6">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>Total 6,977 institutions</th><th colspan="2">6,229 banks</th><th colspan="3">748 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th>Total</th><th>5,739 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>198 life insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td colspan="11">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>1-1/8% June 1943</td><td>629</td><td>218</td><td>204</td><td>198</td><td>7</td><td>13</td><td>3</td><td>11</td><td>114</td><td>298</td></tr><tr><td>1% September 1943</td><td>279</td><td>121</td><td>115</td><td>113</td><td>2</td><td>6</td><td>3</td><td>3</td><td>32</td><td>127</td></tr><tr><td>1-1/8% December 1943</td><td>421</td><td>109</td><td>83</td><td>80</td><td>3</td><td>26</td><td>21</td><td>5</td><td>40</td><td>272</td></tr><tr><td>1% March 1944</td><td>515</td><td>244</td><td>237</td><td>232</td><td>5</td><td>7</td><td>*</td><td>6</td><td>102</td><td>169</td></tr><tr><td>3/4% June 1944</td><td>416</td><td>184</td><td>177</td><td>175</td><td>1</td><td>7</td><td>2</td><td>5</td><td>72</td><td>159</td></tr><tr><td>1% September 1944</td><td>283</td><td>45</td><td>44</td><td>43</td><td>1</td><td>1</td><td>-</td><td>1</td><td>56</td><td>182</td></tr><tr><td>3/4% March 1945</td><td>718</td><td>271</td><td>253</td><td>252</td><td>1</td><td>17</td><td>*</td><td>17</td><td>78</td><td>370</td></tr><tr><td>Total Treasury notes</td><td>3,261</td><td>1,191</td><td>1,113</td><td>1,094</td><td>20</td><td>78</td><td>30</td><td>48</td><td>494</td><td>1,576</td></tr><tr><td>Bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Postal savings</td><td>117</td><td>12</td><td>11</td><td>11</td><td>*</td><td>*</td><td>*</td><td>*</td><td>33</td><td>72</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>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>*</td><td>33</td><td>150</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>3,457</td><td>1,204</td><td>1,125</td><td>1,105</td><td>20</td><td>79</td><td>30</td><td>49</td><td>527</td><td>1,726</td></tr><tr><td colspan="11">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>212</td><td>192</td><td>161</td><td>30</td><td>20</td><td>10</td><td>10</td><td>106</td><td>136</td></tr><tr><td>3-1/4% October 1943-45</td><td>1,401</td><td>792</td><td>638</td><td>582</td><td>56</td><td>153</td><td>110</td><td>44</td><td>137</td><td>472</td></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>848</td><td>637</td><td>576</td><td>61</td><td>211</td><td>162</td><td>49</td><td>225</td><td>446</td></tr><tr><td>4% December 1944-54</td><td>1,037</td><td>624</td><td>477</td><td>422</td><td>55</td><td>147</td><td>110</td><td>37</td><td>118</td><td>294</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>764</td><td>561</td><td>506</td><td>55</td><td>202</td><td>163</td><td>40</td><td>168</td><td>282</td></tr><tr><td>2-1/2% December 1945</td><td>541</td><td>411</td><td>350</td><td>330</td><td>20</td><td>61</td><td>29</td><td>32</td><td>28</td><td>102</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>321</td><td>216</td><td>190</td><td>26</td><td>105</td><td>92</td><td>13</td><td>70</td><td>98</td></tr><tr><td>3% June 1946-48</td><td>1,036</td><td>634</td><td>453</td><td>399</td><td>55</td><td>181</td><td>151</td><td>29</td><td>211</td><td>191</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>484</td><td>345</td><td>296</td><td>49</td><td>139</td><td>116</td><td>23</td><td>89</td><td>245</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>418</td><td>285</td><td>239</td><td>47</td><td>133</td><td>75</td><td>58</td><td>83</td><td>258</td></tr><tr><td>2% December 1947</td><td>701</td><td>612</td><td>543</td><td>531</td><td>13</td><td>68</td><td>41</td><td>27</td><td>1</td><td>88</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,223</td><td>910</td><td>718</td><td>663</td><td>56</td><td>191</td><td>155</td><td>36</td><td>165</td><td>149</td></tr><tr><td>2-1/2% September 1948</td><td>451</td><td>402</td><td>357</td><td>348</td><td>9</td><td>45</td><td>30</td><td>15</td><td>5</td><td>44</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>483</td><td>441</td><td>426</td><td>15</td><td>42</td><td>20</td><td>22</td><td>50</td><td>38</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>378</td><td>251</td><td>205</td><td>46</td><td>127</td><td>90</td><td>37</td><td>47</td><td>67</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,227</td><td>1,075</td><td>1,014</td><td>61</td><td>152</td><td>95</td><td>57</td><td>292</td><td>267</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>911</td><td>745</td><td>683</td><td>62</td><td>166</td><td>113</td><td>53</td><td>151</td><td>124</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,192</td><td>885</td><td>776</td><td>109</td><td>307</td><td>244</td><td>63</td><td>216</td><td>218</td></tr><tr><td>3% September 1951-55</td><td>755</td><td>334</td><td>251</td><td>196</td><td>55</td><td>84</td><td>60</td><td>23</td><td>104</td><td>317</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>847</td><td>792</td><td>765</td><td>27</td><td>55</td><td>27</td><td>28</td><td>149</td><td>122</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>623</td><td>600</td><td>588</td><td>12</td><td>24</td><td>2</td><td>22</td><td>36</td><td>65</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>542</td><td>438</td><td>426</td><td>12</td><td>103</td><td>69</td><td>34</td><td>46</td><td>93</td></tr><tr><td>2-7/8% March 1955-60</td><td>2,611</td><td>1,157</td><td>648</td><td>536</td><td>112</td><td>509</td><td>395</td><td>114</td><td>442</td><td>1,012</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>629</td><td>394</td><td>399</td><td>35</td><td>275</td><td>164</td><td>71</td><td>170</td><td>184</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>698</td><td>285</td><td>244</td><td>41</td><td>413</td><td>330</td><td>83</td><td>83</td><td>138</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,041</td><td>391</td><td>352</td><td>39</td><td>650</td><td>525</td><td>125</td><td>141</td><td>302</td></tr><tr><td>Total Treasury bonds</td><td>26,581</td><td>17,494</td><td>12,970</td><td>11,813</td><td>1,156</td><td>4,525</td><td>3,379</td><td>1,146</td><td>3,333</td><td>5,754</td></tr></table>
(Continued on following page)
53
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States February 28, 1943 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART A - PAR VALUES IN MILLIONS OF DOLLARS-(Continued)
50
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th colspan="4">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>Total 6,977 institutions</th><th>Total 5,739 commercial banks</th><th>490 mutual saving banks</th><th>Total 745 insurance companies</th><th>198 life insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>II. Partially exempt from Federal income taxes 4/ (continued)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 3/4% May 1943</td><td>289</td><td>239</td><td>234</td><td>233</td><td>1</td><td>5</td><td>2</td><td>3</td><td>4</td><td>46</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1944-64</td><td>95</td><td>63</td><td>34</td><td>20</td><td>14</td><td>28</td><td>27</td><td>1</td><td>3</td><td>29</td></tr><tr><td>3% May 1944-49</td><td>835</td><td>541</td><td>429</td><td>407</td><td>22</td><td>112</td><td>101</td><td>11</td><td>94</td><td>199</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>19</td><td>7</td><td>6</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>2</td></tr><tr><td>Home Owners' Loan Corporation 3% May 1944-52</td><td>779</td><td>405</td><td>332</td><td>299</td><td>33</td><td>73</td><td>66</td><td>7</td><td>133</td><td>240</td></tr><tr><td>1-1/2% June 1945-47</td><td>755</td><td>684</td><td>640</td><td>633</td><td>7</td><td>44</td><td>37</td><td>7</td><td>3</td><td>68</td></tr><tr><td>Federal Public Housing Authority 1-3/8% February 1944</td><td>114</td><td>97</td><td>95</td><td>95</td><td>*</td><td>2</td><td>*</td><td>2</td><td>*</td><td>16</td></tr><tr><td>Total guaranteed issues</td><td>2,888</td><td>2,049</td><td>1,771</td><td>1,693</td><td>78</td><td>277</td><td>247</td><td>31</td><td>240</td><td>600</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>29,469</td><td>19,543</td><td>14,741</td><td>13,506</td><td>1,234</td><td>4,802</td><td>3,625</td><td>1,177</td><td>3,573</td><td>6,353</td></tr><tr><td>III. Subject to Federal income taxee</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>8,232</td><td>5,390</td><td>5,326</td><td>5,302</td><td>24</td><td>63</td><td>56</td><td>8</td><td>1,487</td><td>1,355</td></tr><tr><td>Certificatee of indebtedness</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>.65% May 1943</td><td>1,506</td><td>877</td><td>859</td><td>851</td><td>8</td><td>18</td><td>3</td><td>15</td><td>294</td><td>335</td></tr><tr><td>7/8% August 1943</td><td>1,609</td><td>1,085</td><td>1,066</td><td>1,045</td><td>21</td><td>19</td><td>2</td><td>17</td><td>224</td><td>301</td></tr><tr><td>7/8% November 1943</td><td>2,035</td><td>1,420</td><td>1,373</td><td>1,342</td><td>31</td><td>47</td><td>20</td><td>27</td><td>284</td><td>330</td></tr><tr><td>7/8% December 1943</td><td>3,800</td><td>2,468</td><td>2,399</td><td>2,342</td><td>56</td><td>69</td><td>20</td><td>49</td><td>2</td><td>1,330</td></tr><tr><td>7/8% February 1944</td><td>2,211</td><td>1,454</td><td>1,347</td><td>1,257</td><td>89</td><td>108</td><td>56</td><td>52</td><td>14</td><td>743</td></tr><tr><td>Total certificatee of indebtedness</td><td>11,161</td><td>7,304</td><td>7,044</td><td>6,837</td><td>206</td><td>261</td><td>101</td><td>160</td><td>818</td><td>3,039</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>15</td><td>15</td><td>14</td><td>1</td><td>*</td><td>*</td><td>*</td><td>39</td><td>12</td></tr><tr><td>3/4% September 1944</td><td>635</td><td>508</td><td>478</td><td>461</td><td>16</td><td>31</td><td>23</td><td>8</td><td>13</td><td>114</td></tr><tr><td>1-1/4% March 1945</td><td>1,606</td><td>1,156</td><td>1,102</td><td>1,068</td><td>34</td><td>54</td><td>36</td><td>18</td><td>205</td><td>246</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>419</td><td>418</td><td>404</td><td>14</td><td>31</td><td>20</td><td>11</td><td>19</td><td>63</td></tr><tr><td>1% March 1946</td><td>503</td><td>415</td><td>384</td><td>366</td><td>17</td><td>31</td><td>24</td><td>7</td><td>23</td><td>65</td></tr><tr><td>1-1/2% December 1946</td><td>3,261</td><td>2,445</td><td>2,373</td><td>2,292</td><td>81</td><td>72</td><td>36</td><td>36</td><td>484</td><td>331</td></tr><tr><td>Total Treasury notes</td><td>6,602</td><td>4,988</td><td>4,768</td><td>4,605</td><td>163</td><td>220</td><td>139</td><td>80</td><td>782</td><td>831</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>826</td><td>615</td><td>461</td><td>154</td><td>211</td><td>199</td><td>12</td><td>137</td><td>153</td></tr><tr><td>1-3/4% June 1948</td><td>3,062</td><td>2,490</td><td>2,246</td><td>2,138</td><td>109</td><td>244</td><td>190</td><td>54</td><td>7</td><td>564</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>803</td><td>646</td><td>540</td><td>106</td><td>158</td><td>142</td><td>16</td><td>134</td><td>76</td></tr><tr><td>2% September 1949-51</td><td>1,292</td><td>1,078</td><td>943</td><td>794</td><td>149</td><td>135</td><td>116</td><td>19</td><td>61</td><td>154</td></tr><tr><td>2% December 1949-51</td><td>2,098</td><td>1,557</td><td>1,331</td><td>1,162</td><td>169</td><td>226</td><td>203</td><td>23</td><td>143</td><td>397</td></tr><tr><td>2% March 1950-52</td><td>1,963</td><td>1,528</td><td>1,290</td><td>1,151</td><td>139</td><td>238</td><td>221</td><td>17</td><td>137</td><td>238</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>377</td><td>339</td><td>304</td><td>35</td><td>38</td><td>29</td><td>9</td><td>43</td><td>90</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>694</td><td>555</td><td>236</td><td>319</td><td>139</td><td>130</td><td>10</td><td>99</td><td>230</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,179</td><td>933</td><td>589</td><td>314</td><td>245</td><td>222</td><td>24</td><td>100</td><td>221</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,077</td><td>570</td><td>234</td><td>336</td><td>507</td><td>487</td><td>20</td><td>63</td><td>309</td></tr><tr><td>2-1/2% June 1962-67</td><td>2,118</td><td>1,510</td><td>182</td><td>-</td><td>182</td><td>1,328</td><td>1,239</td><td>89</td><td>181</td><td>427</td></tr><tr><td>2-1/2% December 1963-68</td><td>2,831</td><td>1,860</td><td>525</td><td>-</td><td>525</td><td>1,335</td><td>1,260</td><td>75</td><td>267</td><td>704</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,686</td><td>1,059</td><td>714</td><td>344</td><td>628</td><td>567</td><td>60</td><td>326</td><td>704</td></tr><tr><td>Total Treasury bonds</td><td>22,693</td><td>16,666</td><td>11,233</td><td>8,322</td><td>2,911</td><td>5,433</td><td>5,005</td><td>429</td><td>1,699</td><td>4,327</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>339</td><td>311</td><td>298</td><td>13</td><td>28</td><td>23</td><td>6</td><td>29</td><td>43</td></tr><tr><td>Reconstruction Finance Corporation 1-1/8% July 1943</td><td>324</td><td>268</td><td>259</td><td>252</td><td>7</td><td>9</td><td>2</td><td>8</td><td>11</td><td>46</td></tr><tr><td>1% April 1944</td><td>571</td><td>444</td><td>430</td><td>421</td><td>10</td><td>14</td><td>5</td><td>8</td><td>63</td><td>64</td></tr><tr><td>Total guaranteed issues</td><td>1,307</td><td>1,052</td><td>1,000</td><td>971</td><td>30</td><td>51</td><td>30</td><td>22</td><td>103</td><td>153</td></tr><tr><td>Total subject to Federal income taxes</td><td>49,995</td><td>35,400</td><td>29,372</td><td>26,038</td><td>3,334</td><td>6,028</td><td>5,330</td><td>698</td><td>4,889</td><td>9,705</td></tr><tr><td>IV. Grand total</td><td>82,921</td><td>56,147</td><td>45,238</td><td>40,649</td><td>4,589</td><td>10,909</td><td>8,985</td><td>1,924</td><td>8,990</td><td>17,784</td></tr></table>
(Continued on following page)
54
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, February 28, 1943 - (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 colspan="6">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>Total 6,977 institutions</th><th colspan="2">6,229 banks</th><th colspan="3">743 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,739 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>198 life insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>I. Wholly exempt from Federal income taxes 3/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/8% June 1943</td><td>100.0</td><td>34.6</td><td>32.5</td><td>31.4</td><td>1.1</td><td>2.1</td><td>.4</td><td>1.7</td><td>18.1</td><td>47.3</td></tr><tr><td>1% September 1943</td><td>100.0</td><td>43.3</td><td>41.3</td><td>40.5</td><td>.8</td><td>2.0</td><td>1.1</td><td>.9</td><td>11.4</td><td>45.3</td></tr><tr><td>1-1/8% December 1943</td><td>100.0</td><td>25.9</td><td>19.6</td><td>19.0</td><td>.6</td><td>6.2</td><td>4.9</td><td>1.3</td><td>9.5</td><td>64.6</td></tr><tr><td>1% March 1944</td><td>100.0</td><td>47.4</td><td>46.1</td><td>45.1</td><td>1.0</td><td>1.3</td><td>.1</td><td>1.3</td><td>19.9</td><td>32.7</td></tr><tr><td>3/4% June 1944</td><td>100.0</td><td>44.3</td><td>42.5</td><td>42.2</td><td>.3</td><td>1.8</td><td>.6</td><td>1.2</td><td>17.3</td><td>38.4</td></tr><tr><td>1% September 1944</td><td>100.0</td><td>15.8</td><td>15.4</td><td>15.0</td><td>.4</td><td>.3</td><td>-</td><td>.3</td><td>19.8</td><td>64.4</td></tr><tr><td>3/4% March 1945</td><td>100.0</td><td>37.7</td><td>35.3</td><td>35.2</td><td>.1</td><td>2.4</td><td>.1</td><td>2.4</td><td>10.8</td><td>51.5</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>36.5</td><td>34.1</td><td>33.5</td><td>.6</td><td>2.4</td><td>.9</td><td>1.5</td><td>15.1</td><td>48.3</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>100.0</td><td>9.8</td><td>9.4</td><td>9.3</td><td>.2</td><td>.4</td><td>.1</td><td>.3</td><td>28.5</td><td>61.6</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.5</td><td>1.2</td><td>1.2</td><td>-</td><td>.3</td><td>.2</td><td>.1</td><td>-</td><td>98.5</td></tr><tr><td>Conversion</td><td>100.0</td><td>.5</td><td>.4</td><td>.4</td><td>-</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>99.5</td></tr><tr><td>Total bonds</td><td>100.0</td><td>6.3</td><td>6.0</td><td>5.9</td><td>.1</td><td>.3</td><td>.1</td><td>.2</td><td>17.1</td><td>76.6</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>34.8</td><td>32.5</td><td>32.0</td><td>.6</td><td>2.3</td><td>.9</td><td>1.4</td><td>15.3</td><td>49.9</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>46.7</td><td>42.3</td><td>35.6</td><td>6.7</td><td>4.4</td><td>2.1</td><td>2.3</td><td>23.3</td><td>30.0</td></tr><tr><td>3-1/4% October 1943-45</td><td>100.0</td><td>56.5</td><td>45.6</td><td>41.6</td><td>4.0</td><td>11.0</td><td>7.8</td><td>3.1</td><td>9.8</td><td>33.7</td></tr><tr><td>3-1/4% April 1944-46</td><td>100.0</td><td>55.8</td><td>41.9</td><td>38.0</td><td>4.0</td><td>13.9</td><td>10.7</td><td>3.2</td><td>14.8</td><td>29.4</td></tr><tr><td>1% December 1944-54</td><td>100.0</td><td>60.2</td><td>46.1</td><td>40.7</td><td>5.3</td><td>14.2</td><td>10.7</td><td>3.5</td><td>11.4</td><td>28.4</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>62.9</td><td>46.2</td><td>41.7</td><td>4.6</td><td>16.7</td><td>13.4</td><td>3.3</td><td>13.8</td><td>23.3</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>76.0</td><td>64.7</td><td>60.9</td><td>3.7</td><td>11.3</td><td>5.3</td><td>6.0</td><td>5.3</td><td>18.8</td></tr><tr><td>3-3/4% March 1946-56</td><td>100.0</td><td>65.6</td><td>44.1</td><td>38.9</td><td>5.2</td><td>21.4</td><td>18.8</td><td>2.7</td><td>14.3</td><td>20.1</td></tr><tr><td>3% June 1946-48</td><td>100.0</td><td>61.2</td><td>43.8</td><td>38.5</td><td>5.3</td><td>17.4</td><td>14.6</td><td>2.8</td><td>20.3</td><td>18.4</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>59.2</td><td>42.2</td><td>36.1</td><td>6.0</td><td>17.0</td><td>14.2</td><td>2.8</td><td>10.8</td><td>30.0</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>55.1</td><td>37.6</td><td>31.4</td><td>6.1</td><td>17.5</td><td>9.9</td><td>7.6</td><td>10.9</td><td>34.0</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>87.3</td><td>77.5</td><td>75.7</td><td>1.8</td><td>9.7</td><td>5.8</td><td>3.9</td><td>.2</td><td>12.5</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>74.3</td><td>58.7</td><td>54.2</td><td>4.5</td><td>15.6</td><td>12.7</td><td>3.0</td><td>13.5</td><td>12.2</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>89.2</td><td>79.2</td><td>77.2</td><td>2.0</td><td>10.0</td><td>6.7</td><td>3.3</td><td>1.0</td><td>9.7</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>84.5</td><td>77.1</td><td>74.5</td><td>2.6</td><td>7.4</td><td>3.4</td><td>3.9</td><td>8.8</td><td>6.7</td></tr><tr><td>3-1/8 December 1949-52</td><td>100.0</td><td>76.9</td><td>51.0</td><td>41.7</td><td>9.4</td><td>25.9</td><td>18.3</td><td>7.6</td><td>9.5</td><td>13.6</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>68.7</td><td>60.2</td><td>56.8</td><td>3.4</td><td>8.5</td><td>5.3</td><td>3.2</td><td>16.3</td><td>15.0</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>76.8</td><td>62.8</td><td>57.6</td><td>5.2</td><td>14.0</td><td>9.5</td><td>4.4</td><td>12.7</td><td>10.5</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>73.3</td><td>54.4</td><td>47.7</td><td>6.7</td><td>18.9</td><td>15.0</td><td>3.9</td><td>13.3</td><td>13.4</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>44.3</td><td>33.2</td><td>26.0</td><td>7.2</td><td>11.1</td><td>8.0</td><td>3.1</td><td>13.8</td><td>42.6</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>75.7</td><td>70.9</td><td>68.5</td><td>2.4</td><td>4.9</td><td>2.4</td><td>2.5</td><td>13.3</td><td>10.9</td></tr><tr><td>2% June 1953-55</td><td>100.0</td><td>85.0</td><td>82.7</td><td>81.1</td><td>1.6</td><td>3.3</td><td>.3</td><td>3.0</td><td>5.0</td><td>9.0</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>79.6</td><td>64.4</td><td>62.6</td><td>1.7</td><td>15.2</td><td>10.2</td><td>5.0</td><td>6.8</td><td>13.6</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>44.3</td><td>24.8</td><td>20.5</td><td>4.3</td><td>19.5</td><td>15.1</td><td>4.3</td><td>16.9</td><td>38.7</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>64.0</td><td>40.1</td><td>36.5</td><td>3.6</td><td>23.9</td><td>16.7</td><td>7.3</td><td>17.3</td><td>18.7</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>76.0</td><td>31.0</td><td>26.6</td><td>4.5</td><td>45.0</td><td>36.0</td><td>9.0</td><td>9.0</td><td>15.0</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>70.1</td><td>26.3</td><td>23.7</td><td>2.6</td><td>43.8</td><td>35.4</td><td>8.4</td><td>9.5</td><td>20.4</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>65.8</td><td>48.8</td><td>44.4</td><td>4.4</td><td>17.0</td><td>12.7</td><td>4.3</td><td>12.5</td><td>21.6</td></tr></table>
(Continued on following page)
55
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, February 28, 1943 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART B - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS-(Continued)
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount out- standing</th><th>Total 6,977 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="3">Held by 748 insurance companies</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">6,229 banks</th><th></th><th>Total</th><th>198 life insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,739 commercial banks</th><th>490 mutual savings banks</th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>II. Partially exempt from Federal income taxes 4/ (continued)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 3/4% May 1943</td><td>100.0</td><td>82.7</td><td>80.8</td><td>80.5</td><td>.4</td><td>1.9</td><td>.9</td><td>1.0</td><td>1.5</td><td>15.7</td></tr><tr><td>Federal Farm Mortgage Corporation 3-1/4% March 1944-64</td><td>100.0</td><td>66.2</td><td>36.2</td><td>21.6</td><td>14.6</td><td>30.0</td><td>28.6</td><td>1.4</td><td>3.5</td><td>30.3</td></tr><tr><td>3% May 1944-49</td><td>100.0</td><td>64.8</td><td>51.4</td><td>48.7</td><td>2.7</td><td>13.4</td><td>12.1</td><td>1.3</td><td>11.3</td><td>23.9</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>86.6</td><td>31.6</td><td>29.2</td><td>2.4</td><td>55.1</td><td>54.8</td><td>.3</td><td>5.3</td><td>8.0</td></tr><tr><td>Home Owners' Loan Corporation 3% May 1944-52</td><td>100.0</td><td>52.0</td><td>42.6</td><td>38.4</td><td>4.2</td><td>9.4</td><td>8.4</td><td>1.0</td><td>17.1</td><td>30.9</td></tr><tr><td>1-1/2% June 1945-47</td><td>100.0</td><td>90.6</td><td>84.8</td><td>83.8</td><td>.9</td><td>5.9</td><td>5.0</td><td>.9</td><td>.4</td><td>9.0</td></tr><tr><td>Federal Public Housing Authority 1-3/8% February 1944</td><td>100.0</td><td>85.3</td><td>83.6</td><td>83.3</td><td>.3</td><td>1.8</td><td>.4</td><td>1.3</td><td>.4</td><td>14.3</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>70.9</td><td>61.3</td><td>58.6</td><td>2.7</td><td>9.6</td><td>8.5</td><td>1.1</td><td>8.3</td><td>20.8</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>66.3</td><td>50.0</td><td>45.8</td><td>4.2</td><td>16.3</td><td>12.3</td><td>4.0</td><td>12.1</td><td>21.6</td></tr><tr><td>III. Subject to Federal income taxes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>100.0</td><td>65.5</td><td>64.7</td><td>64.4</td><td>.3</td><td>.8</td><td>.7</td><td>.1</td><td>18.1</td><td>16.5</td></tr><tr><td>Certificate of indebtedness</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>65% May 1943</td><td>100.0</td><td>58.2</td><td>57.0</td><td>56.5</td><td>.6</td><td>1.2</td><td>.2</td><td>1.0</td><td>19.5</td><td>22.2</td></tr><tr><td>7/8% August 1943</td><td>100.0</td><td>67.4</td><td>66.3</td><td>64.9</td><td>1.3</td><td>1.2</td><td>1.1</td><td>1.0</td><td>13.9</td><td>18.7</td></tr><tr><td>7/8% November 1943</td><td>100.0</td><td>69.8</td><td>67.5</td><td>65.9</td><td>1.5</td><td>2.3</td><td>1.0</td><td>1.3</td><td>14.0</td><td>16.2</td></tr><tr><td>7/8% December 1943</td><td>100.0</td><td>65.0</td><td>63.1</td><td>61.6</td><td>1.5</td><td>1.8</td><td>.5</td><td>1.3</td><td>*</td><td>35.0</td></tr><tr><td>7/8% February 1944</td><td>100.0</td><td>65.8</td><td>60.9</td><td>56.9</td><td>4.0</td><td>4.9</td><td>2.5</td><td>2.4</td><td>.6</td><td>33.6</td></tr><tr><td>Total certificates of indebtedness</td><td>100.0</td><td>65.4</td><td>63.1</td><td>61.3</td><td>1.8</td><td>2.3</td><td>.9</td><td>1.4</td><td>7.3</td><td>27.2</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>100.0</td><td>22.8</td><td>22.3</td><td>20.7</td><td>1.6</td><td>.5</td><td>.2</td><td>.3</td><td>99.6</td><td>17.6</td></tr><tr><td>3/4% September 1944</td><td>100.0</td><td>80.0</td><td>75.2</td><td>72.6</td><td>2.6</td><td>4.8</td><td>3.6</td><td>1.2</td><td>2.1</td><td>17.9</td></tr><tr><td>1-1/4% March 1945</td><td>100.0</td><td>72.0</td><td>68.6</td><td>66.5</td><td>2.1</td><td>3.4</td><td>2.3</td><td>1.1</td><td>12.7</td><td>15.3</td></tr><tr><td>3/4% December 1945</td><td>100.0</td><td>84.6</td><td>78.6</td><td>76.1</td><td>2.5</td><td>5.9</td><td>3.8</td><td>2.1</td><td>3.6</td><td>11.8</td></tr><tr><td>1% March 1946</td><td>100.0</td><td>82.6</td><td>76.3</td><td>72.9</td><td>3.5</td><td>6.3</td><td>4.8</td><td>1.5</td><td>4.5</td><td>12.9</td></tr><tr><td>1-1/2% December 1946</td><td>100.0</td><td>75.0</td><td>72.8</td><td>70.3</td><td>2.5</td><td>2.2</td><td>1.1</td><td>1.1</td><td>14.8</td><td>10.2</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>75.6</td><td>72.2</td><td>69.8</td><td>2.5</td><td>3.3</td><td>2.1</td><td>1.2</td><td>11.9</td><td>12.6</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>100.0</td><td>74.0</td><td>55.1</td><td>41.3</td><td>13.8</td><td>18.9</td><td>17.9</td><td>1.1</td><td>12.3</td><td>13.7</td></tr><tr><td>1-3/4% June 1948</td><td>100.0</td><td>81.3</td><td>73.4</td><td>69.8</td><td>3.6</td><td>8.0</td><td>6.2</td><td>1.8</td><td>.2</td><td>18.4</td></tr><tr><td>2% June 1949-51</td><td>100.0</td><td>79.2</td><td>63.7</td><td>53.2</td><td>10.4</td><td>15.6</td><td>14.0</td><td>1.6</td><td>13.2</td><td>7.5</td></tr><tr><td>2% September 1949-51</td><td>100.0</td><td>83.4</td><td>73.0</td><td>61.5</td><td>11.5</td><td>10.4</td><td>9.0</td><td>1.4</td><td>4.7</td><td>11.9</td></tr><tr><td>2% December 1949-51</td><td>100.0</td><td>74.2</td><td>63.5</td><td>55.4</td><td>8.1</td><td>10.8</td><td>9.7</td><td>1.1</td><td>6.8</td><td>18.9</td></tr><tr><td>2% March 1950-52</td><td>100.0</td><td>77.8</td><td>65.7</td><td>58.7</td><td>7.1</td><td>12.1</td><td>11.2</td><td>.9</td><td>7.0</td><td>15.2</td></tr><tr><td>2% December 1951-55</td><td>100.0</td><td>73.9</td><td>66.4</td><td>59.5</td><td>6.9</td><td>7.5</td><td>5.7</td><td>1.9</td><td>8.4</td><td>17.6</td></tr><tr><td>2-1/2% March 1952-54</td><td>100.0</td><td>67.8</td><td>54.2</td><td>23.0</td><td>31.2</td><td>13.6</td><td>12.7</td><td>1.0</td><td>9.7</td><td>22.5</td></tr><tr><td>2-1/4% June 1952-55</td><td>100.0</td><td>78.6</td><td>62.2</td><td>39.3</td><td>22.9</td><td>16.4</td><td>14.8</td><td>1.6</td><td>6.7</td><td>14.8</td></tr><tr><td>2-1/2% March 1956-58</td><td>100.0</td><td>74.3</td><td>39.3</td><td>16.1</td><td>23.2</td><td>35.0</td><td>33.6</td><td>1.4</td><td>4.3</td><td>21.3</td></tr><tr><td>2-1/2% June 1962-67</td><td>100.0</td><td>71.3</td><td>8.6</td><td>-</td><td>8.6</td><td>62.7</td><td>58.5</td><td>4.2</td><td>8.5</td><td>20.2</td></tr><tr><td>2-1/2% December 1963-68</td><td>100.0</td><td>65.7</td><td>18.6</td><td>-</td><td>18.6</td><td>47.2</td><td>44.5</td><td>2.6</td><td>9.4</td><td>24.9</td></tr><tr><td>2-1/2% September 1967-72</td><td>100.0</td><td>62.1</td><td>39.0</td><td>26.3</td><td>12.7</td><td>23.1</td><td>20.9</td><td>2.2</td><td>12.0</td><td>25.9</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>73.4</td><td>49.5</td><td>36.7</td><td>12.8</td><td>23.9</td><td>22.1</td><td>1.9</td><td>7.5</td><td>19.1</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>100.0</td><td>82.5</td><td>75.6</td><td>72.5</td><td>3.2</td><td>6.9</td><td>5.5</td><td>1.4</td><td>7.0</td><td>10.5</td></tr><tr><td>Reconstruction Finance Corporation 1-1/2% July 1943</td><td>100.0</td><td>82.7</td><td>79.8</td><td>77.7</td><td>2.1</td><td>2.9</td><td>.5</td><td>2.4</td><td>3.3</td><td>14.0</td></tr><tr><td>1% April 1944</td><td>100.0</td><td>77.7</td><td>75.3</td><td>73.6</td><td>1.7</td><td>2.4</td><td>.9</td><td>1.4</td><td>11.0</td><td>11.3</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>80.4</td><td>76.5</td><td>74.3</td><td>2.3</td><td>3.9</td><td>2.3</td><td>1.6</td><td>7.8</td><td>11.7</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>70.8</td><td>58.7</td><td>52.1</td><td>6.7</td><td>12.1</td><td>10.7</td><td>1.4</td><td>9.8</td><td>19.4</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>67.7</td><td>54.6</td><td>49.0</td><td>5.5</td><td>13.2</td><td>10.8</td><td>2.3</td><td>10.8</td><td>21.4</td></tr></table>
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) depositary bonds: commercial banks, $125 millions; (2) United States savings bonds: commercial banks, $193 millions; mutual savings banks, $100 millions; insurance companies, $123 millions; all institutions, $421 millions; (3) tax series notes: commercial banks, $58 millions; mutual savings banks, $5 millions;
insurance companies, $34 millions; all institutions, $97 millions; (4) Commodity Credit Corporation demand obligations; 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 $5,000 of principal amount owned by any single holder is also exempt from the surtax rates of the Federal income tax.) 5/ Excludes obligations sold directly to the Treasury.
PRICES AND YIELDS OF GOVERNMENT SECURITIES (Including securities issued by Federal agencies)
56
57
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
March 31, 1943
Table I.- Securities Issued or Guaranteed by the United States Government
PART A - TAXABLE BONDS, NOTES, AND CERTIFICATES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="4">Price data (Price decimals are thirty-seconds)</th><th rowspan="2">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="4">1942-43 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Feb.27, 1943</th><th>Change in yield from Feb.27, 1943</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>3/</th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><tr><th colspan="13">Treasury bonds</th></tr><tr><td>$1,115</td><td>24</td><td>- 3/15/48-50</td><td>101.14</td><td>101.16</td><td>101.15</td><td>-.03</td><td>1.69%</td><td>+0.01%</td><td>1.77%</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>3/23/42</td><td>100.31</td><td>5/4/42</td></tr><tr><td>3,062</td><td>1-3/4</td><td>- 6/15/48</td><td>100.16</td><td>100.18</td><td>100.17</td><td>+.02</td><td>1.64</td><td>-.02</td><td>-</td><td>12/1/42</td><td>100.19</td><td>3/25/43</td><td>100.01</td><td>12/23/42</td><td>100.19</td><td>3/25/43</td><td>100.01</td><td>12/23/42</td></tr><tr><td>1,014</td><td>2</td><td>- 6/15/49-51</td><td>100.19</td><td>100.21</td><td>100.20</td><td>-.02</td><td>1.89</td><td>+.01</td><td>1.92</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>4/15/42</td><td>100.05</td><td>8/5/42</td></tr><tr><td>1,292</td><td>2</td><td>- 9/15/49-51</td><td>100.15</td><td>100.17</td><td>100.16</td><td>-.02</td><td>1.92</td><td>+.01</td><td>1.94</td><td>5/15/42</td><td>100.26</td><td>2/4/43</td><td>100.04</td><td>10/6/42</td><td>100.26</td><td>2/4/43</td><td>100.04</td><td>10/6/42</td></tr><tr><td>2,098</td><td>2</td><td>- 12/15/49-51</td><td>100.11</td><td>100.13</td><td>100.12</td><td>-.04</td><td>1.94</td><td>+.02</td><td>1.95</td><td>7/15/42</td><td>100.24</td><td>2/3/43</td><td>100.03</td><td>8/5/42</td><td>100.24</td><td>2/3/43</td><td>100.03</td><td>8/5/42</td></tr><tr><td>1,953</td><td>2</td><td>- 3/15/50-52</td><td>100.08</td><td>100.10</td><td>100.09</td><td>-.06</td><td>1.96</td><td>+.03</td><td>1.97</td><td>10/19/42</td><td>100.22</td><td>2/3/43</td><td>100.01</td><td>11/2/42</td><td>100.22</td><td>2/3/43</td><td>100.01</td><td>11/2/42</td></tr><tr><td>510</td><td>2</td><td>- 12/15/51-55</td><td>100.07</td><td>100.09</td><td>100.08</td><td>-.03</td><td>1.97</td><td>+.01</td><td>1.98</td><td>12/15/41</td><td>101.16</td><td>12/5/41</td><td>100.01</td><td>12/5/42</td><td>100.28</td><td>1/23/42</td><td>100.01</td><td>12/5/42</td></tr><tr><td>1,024</td><td>2-1/2</td><td>- 3/15/52-54</td><td>103.23</td><td>103.25</td><td>103.24</td><td>-.11</td><td>2.04</td><td>+.04</td><td>2.11</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>4/6/42</td><td>102.28</td><td>2/13/42</td></tr><tr><td>1,501</td><td>2-1/4</td><td>- 6/15/52-55</td><td>101.13</td><td>101.15</td><td>101.14</td><td>-.09</td><td>2.08</td><td>+.03</td><td>2.12</td><td>2/25/42</td><td>101.28</td><td>2/3/43</td><td>100.16</td><td>2/18/42</td><td>101.28</td><td>2/3/43</td><td>100.16</td><td>2/18/42</td></tr><tr><td>1,449</td><td>2-1/2</td><td>- 3/15/56-58</td><td>103.18</td><td>103.20</td><td>103.19</td><td>-.03</td><td>2.18</td><td>+.01</td><td>2.22</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>103.25</td><td>2/13/43</td><td>102.00</td><td>2/17/42</td></tr><tr><td>2,118</td><td>2-1/2</td><td>- 6/15/62-67</td><td>100.09</td><td>100.11</td><td>100.10</td><td>-.06</td><td>2.48</td><td>+.01</td><td>2.48</td><td>5/5/42</td><td>100.23</td><td>2/4/43</td><td>100.00</td><td>8/17/42</td><td>100.23</td><td>2/4/43</td><td>100.00</td><td>8/17/42</td></tr><tr><td>2,831</td><td>2-1/2</td><td>- 12/15/63-68</td><td>100.05</td><td>100.07</td><td>100.06</td><td>-.06</td><td>2.49</td><td>+.01</td><td>2.49</td><td>12/1/42</td><td>100.20</td><td>1/4/43</td><td>100.01</td><td>12/24/42</td><td>100.20</td><td>1/4/43</td><td>100.01</td><td>12/24/42</td></tr><tr><td>2,716</td><td>2-1/2</td><td>- 9/15/67-72</td><td>100.15</td><td>100.17</td><td>100.16</td><td>-.04</td><td>2.47</td><td>.00</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>4/6/42</td><td>100.01</td><td>1/2/42</td></tr><tr><th colspan="13">Treasury notes</th></tr><tr><td>635</td><td>3/4</td><td>D - 9/15/44</td><td>99.27</td><td>99.29</td><td>99.28</td><td>.00</td><td>.84</td><td>+.01</td><td>-</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>3/4/42</td><td>99.15</td><td>8/24/42</td></tr><tr><td>1,606</td><td>1-1/4</td><td>C - 3/15/45</td><td>100.11</td><td>100.13</td><td>100.12</td><td>.00</td><td>1.06</td><td>.00</td><td>-</td><td>9/25/42</td><td>100.14</td><td>2/17/43</td><td>100.00</td><td>10/30/42</td><td>100.14</td><td>2/17/43</td><td>100.00</td><td>10/30/42</td></tr><tr><td>531</td><td>3/4</td><td>B - 12/15/45</td><td>99.19</td><td>99.21</td><td>99.20</td><td>.00</td><td>.89</td><td>.00</td><td>-</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>1/28/42</td><td>98.28</td><td>10/6/42</td></tr><tr><td>503</td><td>1</td><td>A - 3/15/46</td><td>99.23</td><td>99.25</td><td>99.24</td><td>.00</td><td>1.09</td><td>+.01</td><td>-</td><td>11/1/41</td><td>100.18</td><td>10/25/41</td><td>99.02</td><td>12/29/42</td><td>100.00</td><td>1/28/42</td><td>99.02</td><td>12/29/42</td></tr><tr><td>3,261</td><td>1-1/2</td><td>B - 12/15/46</td><td>100.12</td><td>100.14</td><td>100.13</td><td>+.03</td><td>1.39</td><td>-.03</td><td>-</td><td>6/5/42</td><td>100.15</td><td>5/29/42</td><td>100.01</td><td>1/2/43</td><td>100.15</td><td>5/29/42</td><td>100.01</td><td>1/2/43</td></tr><tr><th colspan="3">Certificates of indebtedness</th><th colspan="4">(Quoted on a yield basis)</th><th colspan="4">(Quoted on a yield basis)</th><th colspan="4">(Quoted on a yield basis)</th></tr><tr><td>1,506</td><td>.65%</td><td>C - 5/1/43</td><td>1.15%</td><td>1.15%</td><td>1.25%</td><td>-</td><td>-</td><td>9/21/42</td><td>1.15%</td><td>3/31/43</td><td>.64%</td><td>10/15/42</td><td>1.15%</td><td>3/31/43</td><td>.64%</td><td>10/15/42</td></tr><tr><td>1,609</td><td>7/8</td><td>B - 8/1/43</td><td>.56%</td><td>.53%</td><td>.54%</td><td>-.06%</td><td>-</td><td>8/15/42</td><td>.54%</td><td>3/31/43</td><td>.85%</td><td>8/11/42</td><td>.54%</td><td>3/31/43</td><td>.85%</td><td>8/11/42</td></tr><tr><td>2,035</td><td>7/8</td><td>D - 11/1/43</td><td>.68%</td><td>.66%</td><td>.67%</td><td>-.03%</td><td>-</td><td>11/2/42</td><td>.66%</td><td>3/26/43</td><td>.84%</td><td>10/29/42</td><td>.66%</td><td>3/26/43</td><td>.84%</td><td>10/29/42</td></tr><tr><td>3,800</td><td>7/8</td><td>E - 12/1/43</td><td>.73%</td><td>.71%</td><td>.72%</td><td>.00%</td><td>-</td><td>12/1/42</td><td>.70%</td><td>3/29/43</td><td>.86%</td><td>12/26/42</td><td>.70%</td><td>3/29/43</td><td>.86%</td><td>12/26/42</td></tr><tr><td>2,211</td><td>7/8</td><td>A - 2/1/44</td><td>.76%</td><td>.74%</td><td>.75%</td><td>+.01%</td><td>-</td><td>2/1/43</td><td>.72%</td><td>2/4/43</td><td>.82%</td><td>1/25/43</td><td>.72%</td><td>2/4/43</td><td>.82%</td><td>1/25/43</td></tr></table>
Guaranteed by U. S. Government 7/
<table><tr><td>412</td><td>Commodity Credit Corp.<br>1-1/8% - 2/15/45</td><td>100.01</td><td>100.02</td><td>100.02</td><td>-.02</td><td>1.09%</td><td>+.03%</td><td>-</td><td>7/21/41</td><td>101.00</td><td>9/2/41</td><td>99.25</td><td>12/27/41</td><td>100.14</td><td>3/5/42</td><td>99.26</td><td>1/2/43</td></tr><tr><td>324<br>571</td><td>Reconstruction Finance Corporation<br>1-1/8% - 7/15/43<br>1 - 4/15/44</td><td>100.04</td><td>100.06</td><td>100.05</td><td>-.02</td><td>.58</td><td>+.04</td><td>-</td><td>4/17/41</td><td>101.05</td><td>9/10/41</td><td>100.05</td><td>3/31/43</td><td>100.27</td><td>1/28/42</td><td>100.05</td><td>3/31/43</td></tr><tr><td></td><td></td><td>100.05</td><td>100.07</td><td>100.06</td><td>-.01</td><td>.82</td><td>+.02</td><td>-</td><td>7/3/41</td><td>100.26</td><td>8/5/41</td><td>99.25</td><td>12/27/41</td><td>100.15</td><td>2/25/42</td><td>99.30</td><td>1/2/42</td></tr></table>
PART B - TAXABLE TREASURY BILLS
<table><tr><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Discount</th><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Discount</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Feb. 27, 1943</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Feb. 27, 1943</th></tr><tr><td>-$600</td><td>3/31/43<br>4/7/43<br>4/14/43</td><td>12/30/42<br>3/6/43<br>1/13/43</td><td>Matured<br>.37%<br>.37</td><td>-.20%<br>.20</td><td>-.28%<br>.28</td><td>-.06%<br>-.06</td><td>$703<br>701</td><td>5/19/43<br>5/26/43<br>6/2/43</td><td>2/17/43<br>2/24/43<br>3/3/43</td><td>.37%<br>.37<br>.37</td><td>.34%<br>.34<br>.35</td><td>.36%<br>.36<br>.36</td><td>-.01%<br>-.01<br>-</td></tr><tr><td>702</td><td>4/21/43</td><td>1/20/43</td><td>.37</td><td>.28</td><td>.32</td><td>-.02</td><td>705</td><td>6/9/43</td><td>3/10/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>702</td><td>4/28/43</td><td>1/27/43</td><td>.37</td><td>.28</td><td>.32</td><td>-.02</td><td>802</td><td>6/16/43</td><td>3/17/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>702</td><td>5/5/43</td><td>2/3/43</td><td>.37</td><td>.32</td><td>.34</td><td>-.01</td><td>802</td><td>6/23/43</td><td>3/24/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>708</td><td>5/12/43</td><td>2/10/43</td><td>.37</td><td>.32</td><td>.34</td><td>-.01</td><td>805</td><td>6/30/43</td><td>3/31/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr></table>
(Continued on following page)
58
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
March 31, 1943 - (Continued)
Table I.- Securities Issued or Guaranteed by the United States Government - (Continued)
PART C - TAX-EXEMPT BONDS AND NOTES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price data (Price decimals are thirty-seconds)</th><th colspan="3">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="4">1942-43 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Feb.27, 1943</th><th>Yield 3/</th><th>Change in yield from Feb.27, 1943</th><th>High</th><th>Low</th><th>High</th><th>Low</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><tr><td colspan="16">Treasury bonds</td></tr><tr><td>$ 454</td><td>3-3/8%</td><td>6/15/43-47 8/</td><td>100.19+</td><td>100.20+</td><td>100.20</td><td>-.08</td><td>.34%</td><td>-.02%</td><td>2.66%</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>1/22/42</td><td>100.20</td><td>3/31/43</td></tr><tr><td>1,401</td><td>3-1/4</td><td>10/15/43-45</td><td>101.13+</td><td>101.14+</td><td>101.14</td><td>-.08</td><td>.57</td><td>+.03</td><td>2.34</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>1/22/42</td><td>101.14</td><td>3/31/43</td></tr><tr><td>1,519</td><td>3-1/4</td><td>4/15/44-46</td><td>102.20+</td><td>102.21+</td><td>102.21</td><td>-.07</td><td>.68</td><td>.00</td><td>3.45</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>1/14/42</td><td>105.08</td><td>3/31/43</td></tr><tr><td>1,037</td><td>4</td><td>12/15/44-54</td><td>105.07</td><td>105.09</td><td>105.08</td><td>-.17</td><td>.89</td><td>+.15</td><td>1.74</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>1/21/42</td><td>104.10</td><td>3/31/43</td></tr><tr><td>1,214</td><td>2-3/4</td><td>9/15/45-47</td><td>104.09</td><td>104.11</td><td>104.10</td><td>-.12</td><td>.97</td><td>+.09</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>541</td><td>2-1/2</td><td>12/15/45</td><td>104.01</td><td>104.03</td><td>104.02</td><td>-.12</td><td>.98</td><td>+.09</td><td>1.79</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>3/25/42</td><td>104.02</td><td>3/31/43</td></tr><tr><td>489</td><td>3-3/4</td><td>3/15/46-56</td><td>107.25</td><td>107.27</td><td>107.26</td><td>-.16</td><td>1.06</td><td>+.09</td><td>3.02</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>1/14/42</td><td>107.26</td><td>3/31/43</td></tr><tr><td>1,036</td><td>3</td><td>6/15/46-48</td><td>105.30</td><td>106.00</td><td>105.31</td><td>-.15</td><td>1.10</td><td>+.09</td><td>2.03</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>1/28/42</td><td>105.31</td><td>3/31/43</td></tr><tr><td>819</td><td>3-1/8</td><td>6/15/46-49</td><td>106.10</td><td>106.12</td><td>106.11</td><td>-.17</td><td>1.11</td><td>+.11</td><td>2.66</td><td>10/16/22</td><td>122.22</td><td>12/14/40</td><td>83.05</td><td>1/11/32</td><td>108.17</td><td>1/14/42</td><td>106.11</td><td>3/31/43</td></tr><tr><td>759</td><td>4-1/4</td><td>10/15/47-52</td><td>113.10</td><td>113.12</td><td>113.11</td><td>-.14</td><td>1.22</td><td>+.04</td><td></td><td></td><td></td><td></td><td>98.18</td><td>10/8/23</td><td>116.01</td><td>1/5/42</td><td>113.11</td><td>3/31/43</td></tr><tr><td>701</td><td>2</td><td>12/15/47</td><td>104.00</td><td>104.02</td><td>104.01</td><td>-.04</td><td>1.12</td><td>+.01</td><td>1.80</td><td>12/15/38</td><td>107.20</td><td>12/12/40</td><td>99.14</td><td>9/25/35</td><td>105.01</td><td>3/23/42</td><td>103.27</td><td>12/19/42</td></tr><tr><td>1,223</td><td>2-3/4</td><td>3/15/48-51</td><td>107.00</td><td>107.02</td><td>107.01</td><td>-.08</td><td>1.28</td><td>+.03</td><td>1.45</td><td>3/16/36</td><td>111.18</td><td>12/12/40</td><td>93.10</td><td>4/1/37</td><td>108.06</td><td>3/23/42</td><td>106.16</td><td>2/13/42</td></tr><tr><td>451</td><td>2-1/2</td><td>9/15/48</td><td>106.14</td><td>106.16</td><td>106.15</td><td>-.03</td><td>1.27</td><td>.00</td><td>1.96</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>3/23/42</td><td>105.31</td><td>2/13/42</td></tr><tr><td>571</td><td>2</td><td>12/15/48-50</td><td>103.31</td><td>104.01</td><td>104.00</td><td>-.01</td><td>1.27</td><td>-.01</td><td>1.96</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>3/24/42</td><td>103.18</td><td>2/18/42</td></tr><tr><td>491</td><td>3-1/8</td><td>12/15/49-52</td><td>110.06</td><td>110.08</td><td>110.07</td><td>-.08</td><td>1.52</td><td>+.02</td><td></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>3/24/42</td><td>109.06</td><td>2/18/42</td></tr><tr><td>1,786</td><td>2-1/2</td><td>12/15/49-53</td><td>106.08</td><td>106.10</td><td>106.09</td><td>+.01</td><td>1.51</td><td>-.02</td><td>1.85</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>3/24/42</td><td>104.28</td><td>2/18/42</td></tr><tr><td>1,186</td><td>2-1/2</td><td>9/15/50-52</td><td>106.17</td><td>106.19</td><td>106.18</td><td>.00</td><td>1.56</td><td>-.01</td><td>1.74</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>6/15/42</td><td>105.02</td><td>2/18/42</td></tr><tr><td>1,627</td><td>2-3/4</td><td>6/15/51-54</td><td>108.08</td><td>108.10</td><td>108.09</td><td>+.01</td><td>1.67</td><td>-.01</td><td>1.93</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>5/25/42</td><td>106.28</td><td>2/18/42</td></tr><tr><td>755</td><td>3</td><td>9/15/51-55</td><td>110.05</td><td>110.07</td><td>110.06</td><td>-.01</td><td>1.70</td><td>-.01</td><td>2.07</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>5/25/42</td><td>108.28</td><td>2/18/42</td></tr><tr><td>1,118</td><td>2-1/4</td><td>12/15/51-53</td><td>104.29</td><td>104.31</td><td>104.30</td><td>-.03</td><td>1.64</td><td>+.01</td><td>1.74</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>5/25/42</td><td>103.10</td><td>2/18/42</td></tr><tr><td>725</td><td>2</td><td>6/15/53-55</td><td>103.09</td><td>103.11</td><td>103.10</td><td>-.05</td><td>1.65</td><td>+.02</td><td>1.70</td><td>10/7/40</td><td>105.14</td><td>11/22/41</td><td>101.19</td><td>2/15/41</td><td>104.04</td><td>5/23/42</td><td>102.00</td><td>2/18/42</td></tr><tr><td>681</td><td>2-1/4</td><td>6/15/54-56</td><td>105.08</td><td>105.10</td><td>105.09</td><td>+.02</td><td>1.73</td><td>-.01</td><td>1.80</td><td>7/22/40</td><td>107.06</td><td>11/12/41</td><td>102.02</td><td>7/24/40</td><td>105.20</td><td>6/17/42</td><td>103.10</td><td>2/18/42</td></tr><tr><td>2,611</td><td>2-7/8</td><td>3/15/55-60</td><td>109.17</td><td>109.19</td><td>109.18</td><td>+.02</td><td>1.97</td><td>-.01</td><td>2.20</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>6/17/42</td><td>108.00</td><td>2/18/42</td></tr><tr><td>982</td><td>2-3/4</td><td>9/15/56-59 9/</td><td>108.21</td><td>108.23</td><td>108.22</td><td>+.01</td><td>2.01</td><td>-.01</td><td>2.12</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>6/9/42</td><td>107.12</td><td>2/18/42</td></tr><tr><td>919</td><td>2-3/4</td><td>6/15/58-63 9/</td><td>108.21</td><td>108.23</td><td>108.22</td><td>.00</td><td>2.08</td><td>.00</td><td>2.21</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>6/3/42</td><td>107.15</td><td>2/18/42</td></tr><tr><td>1,485</td><td>2-3/4</td><td>12/15/60-65 9/</td><td>109.01</td><td>109.03</td><td>109.02</td><td>-.03</td><td>2.13</td><td>.00</td><td>2.24</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>6/17/42</td><td>108.04</td><td>2/18/42</td></tr><tr><td colspan="16">Other bonds 10/</td></tr><tr><td>16</td><td>3%</td><td>Conversion - 1/1/46</td><td>106.12</td><td>106.28</td><td>106.20</td><td>-.08</td><td>.57</td><td>+.01</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>2/11/42</td><td>106.20</td><td>3/31/43</td></tr><tr><td>13</td><td>3</td><td>Conversion - 1/1/47</td><td>108.12</td><td>108.28</td><td>108.20</td><td>-.08</td><td>.67</td><td>+.01</td><td>1/1/17</td><td></td><td></td><td></td><td>110.14</td><td>2/11/42</td><td>108.20</td><td>3/31/43</td></tr><tr><td>50</td><td>3</td><td>Panama Canal - 6/1/61</td><td>125.16</td><td>130.00</td><td>129.08</td><td>.00</td><td>1.21</td><td>.00</td><td>6/1/11</td><td>129.08</td><td>3/31/43</td><td>75.00</td><td>6/18/21</td><td>129.08</td><td>3/31/43</td><td>124.08</td><td>1/15/42</td></tr><tr><td colspan="16">Treasury notes</td></tr><tr><td>629</td><td>1-1/8%</td><td>A- 6/15/43</td><td>100.04</td><td>100.06</td><td>100.05</td><td>-.02</td><td>.36</td><td>-.01</td><td>6/15/38</td><td>103.00</td><td>4/3/40</td><td>99.04</td><td>9/6/39</td><td>101.13</td><td>1/28/42</td><td>100.05</td><td>3/31/43</td></tr><tr><td>279</td><td>1</td><td>C- 9/15/43</td><td>100.08</td><td>100.10</td><td>100.09</td><td>-.02</td><td>.38</td><td>+.02</td><td>6/15/40</td><td>102.15</td><td>11/8/40</td><td>100.09</td><td>3/31/43</td><td>101.12</td><td>1/28/42</td><td>100.09</td><td>3/31/43</td></tr><tr><td>421</td><td>1-1/8</td><td>B- 12/15/43</td><td>100.15</td><td>100.17</td><td>100.16</td><td>-.04</td><td>.41</td><td>+.08</td><td>12/15/38</td><td>103.08</td><td>4/2/40</td><td>98.30</td><td>9/6/39</td><td>101.23</td><td>1/28/42</td><td>100.16</td><td>3/31/43</td></tr><tr><td>515</td><td>1</td><td>B- 3/15/44</td><td>100.17</td><td>100.19</td><td>100.18</td><td>-.03</td><td>.41</td><td>+.04</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>1/28/42</td><td>100.18</td><td>3/31/43</td></tr><tr><td>416</td><td>3/4</td><td>A- 6/15/44</td><td>100.11</td><td>100.13</td><td>100.12</td><td>-.03</td><td>.44</td><td>+.05</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>1/28/42</td><td>100.12</td><td>3/31/43</td></tr><tr><td>283</td><td>1</td><td>C- 9/15/44</td><td>100.27</td><td>100.29</td><td>100.28</td><td>-.02</td><td>.40</td><td>+.01</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>1/28/42</td><td>100.28</td><td>3/31/43</td></tr><tr><td>718</td><td>3/4</td><td>A- 3/15/45</td><td>100.17</td><td>100.19</td><td>100.18</td><td>-.01</td><td>.46</td><td>.00</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>3/27/42</td><td>100.12</td><td>11/18/42</td></tr></table>
Guaranteed by U. S. Government 1/
<table><tr><td>$289</td><td>Commodity Credit Corp. 3/4% R- 5/1/43</td><td>100.01</td><td>100.02</td><td>100.02</td><td>.00</td><td>0/32</td><td>-.38%</td><td>-</td><td>8/1/40</td><td>101.02</td><td>12/14/40</td><td>100.00</td><td>12/10/41</td><td>100.18</td><td>1/28/42</td><td>100.02</td><td>3/31/43</td></tr><tr><td>95</td><td>Federal Farm Mfg. Corp. 3-1/4% - 3/15/44-64</td><td>102.12</td><td>102.14</td><td>102.13</td><td>-.06</td><td>.71%</td><td>-.03</td><td>3.09%</td><td>3/15/34</td><td>110.07</td><td>6/8/39</td><td>98.02</td><td>9/18/34</td><td>104.30</td><td>1/28/42</td><td>102.13</td><td>3/31/43</td></tr><tr><td>835</td><td>3- 5/15/44-49</td><td>102.16</td><td>102.17</td><td>102.16</td><td>-.05</td><td>.76</td><td>.00</td><td>2.56</td><td>5/15/34</td><td>109.22</td><td>6/5/39</td><td>95.03</td><td>9/12/34</td><td>104.28</td><td>1/28/42</td><td>102.16</td><td>3/31/43</td></tr><tr><td>779</td><td>Home Owners' Loan Corp. 3% A- 5/1/44-52</td><td>102.13</td><td>102.14</td><td>102.14</td><td>-.06</td><td>.74</td><td>.00</td><td>2.70</td><td>5/1/34</td><td>109.18</td><td>6/6/39</td><td>95.03</td><td>9/12/34</td><td>104.26</td><td>1/28/42</td><td>102.14</td><td>3/31/43</td></tr><tr><td>755</td><td>1-1/2 M- 6/1/45-47</td><td>101.04</td><td>101.06</td><td>101.05</td><td>-.05</td><td>.96</td><td>+.05</td><td>1.21</td><td>6/1/39</td><td>103.26</td><td>12/13/40</td><td>96.24</td><td>9/25/39</td><td>102.01</td><td>1/28/42</td><td>101.05</td><td>3/31/43</td></tr><tr><td>114</td><td>Federal Public Housing Authority 1-3/8% B- 2/1/44</td><td>100.20</td><td>100.22</td><td>100.21</td><td>-.02</td><td>.59</td><td>.00</td><td>-</td><td>2/1/39</td><td>103.02</td><td>12/14/40</td><td>99.07</td><td>9/25/39</td><td>101.11</td><td>2/7/42</td><td>100.21</td><td>3/31/43</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield columns in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market except that prices of Treasury, 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.
3/ Computed on mean price to call date when mean price is above par and to maturity date when mean price is below par.
4/ Included in average of long-term taxable Treasury bonds shown later in this chapter.
5/ Security is not transferable to commercial banks before designated date in 1952.
6/ Quoted on yield basis since November 12, 1942; prior price quotations have been converted to yields for back figures.
7/ Excludes Federal Housing Administration debentures and issues held entirely by government agencies.
8/ Called on February 14, 1943 for redemption on June 15, 1943.
9/ Included in average of long-term partially tax-exempt Treasury bonds shown later in this chapter.
10/ Excludes postal savings bonds.
59
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
March 31, 1943 - (Continued)
Table II. - Securities Issued by Federal Agencies but not Guaranteed by the United States
PART A - ISSUES QUOTED ON A PRICE BASIS
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th colspan="3">Price date (Price decimals are thirty-seconds)</th><th colspan="2">Yield date 1/</th><th>Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconds)</th><th colspan="4">1942-43 price range 2/ (Price 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 Feb.27, 1943</th><th>Yield 3/</th><th>Change in yield from Feb.27, 1943</th><th>Maturity yield</th><th colspan="2">High</th><th colspan="2">Low</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr><tr><td>$ 24</td><td>Federal Home Loan Banks 2% D - 4/1/43</td><td>100.00</td><td>-</td><td>100.00</td><td>-.05</td><td>.00%</td><td>-.06%</td><td>-</td><td>4/1/38</td><td>103.10</td><td>12/31/40</td><td>100.00</td><td>3/31/43</td><td>101.14</td><td>3/24/42</td><td>100.00</td><td>3/31/43</td></tr><tr><td>125</td><td>Federal Land Banks 4% 7/1/41-16</td><td>104.02</td><td>104.08</td><td>104.05</td><td>-.10</td><td>.65</td><td>+.03</td><td>2.66%</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>3/9/42</td><td>104.05</td><td>3/31/43</td></tr><tr><td>71</td><td>4 - 7/15/41-64</td><td>104.02</td><td>104.10</td><td>104.06</td><td>-.12</td><td>.72</td><td>+.07</td><td>3.71</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>104.06</td><td>3/31/43</td><td>108.02</td><td>1/26/42</td><td>104.06</td><td>3/31/43</td></tr><tr><td>157</td><td>3-1/4 - 5/1/45-55</td><td>105.00</td><td>105.08</td><td>105.04</td><td>-.12</td><td>.76</td><td>+.08</td><td>2.75</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>1/10/42</td><td>105.04</td><td>3/31/43</td></tr><tr><td>230</td><td>3 - 7/1/45-55</td><td>104.28</td><td>105.04</td><td>105.00</td><td>-.11</td><td>.75</td><td>+.07</td><td>2.52</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>1/24/42</td><td>105.00</td><td>3/31/43</td></tr><tr><td>171</td><td>3 - 1/1/46-56</td><td>106.00</td><td>106.08</td><td>106.04</td><td>-.16</td><td>.74</td><td>+.11</td><td>2.44</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>1/22/42</td><td>106.04</td><td>3/31/43</td></tr><tr><td>170</td><td>3 - 5/1/46-56</td><td>107.00</td><td>107.08</td><td>107.04</td><td>-.08</td><td>.66</td><td>+.02</td><td>2.36</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>1/10/42</td><td>107.04</td><td>3/31/43</td></tr><tr><td>30</td><td>Federal National MTC. Association 2% A - 5/16/39-43</td><td>100.04</td><td>100.08</td><td>100.06</td><td>-.06</td><td>.46</td><td>+.29</td><td>.46</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>4/27/42</td><td>100.06</td><td>3/31/43</td></tr><tr><td>55</td><td>1-5/8 B - 1/3/40-44/5</td><td>100.21</td><td>100.24</td><td>100.22</td><td>.00</td><td>.71</td><td>-.09</td><td>.71</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>3/26/42</td><td>100.19</td><td>12/8/42</td></tr></table>
PART B - ISSUES QUOTED ON A YIELD BASIS
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th>Date of issue</th><th colspan="3">Yield</th><th>Change in mean from February 27, 1943</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th></th></tr><tr><td>$14 8/</td><td>Federal Home Loan Banks 6/ 1/2% M - 4/1/43 3/4 N - 10/1/43</td><td>3/1/43 4/1/43</td><td>1/ .75%</td><td>1/ .60%</td><td>-.66%</td><td>-</td></tr><tr><td>20</td><td>Federal Intermediate Credit Banks 6/ .85% - 4/1/43</td><td>6/1/42</td><td>1/ 1/</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11</td><td>.70 - 4/1/43</td><td>11/2/42</td><td>1/</td><td>-</td><td>-</td><td>-</td></tr><tr><td>16</td><td>.85 - 5/1/43</td><td>7/1/42</td><td>.55</td><td>-</td><td>.55</td><td>-.05%</td></tr><tr><td>18</td><td>3/4 - 5/1/43</td><td>10/1/42</td><td>.55</td><td>-</td><td>.55</td><td>-.05</td></tr><tr><td>20</td><td>.85 - 6/1/43</td><td>8/1/42</td><td>.60</td><td>-</td><td>.60</td><td>-.05</td></tr><tr><td>24</td><td>.70 - 6/1/43</td><td>12/1/42</td><td>.60</td><td>-</td><td>.60</td><td>-.05</td></tr><tr><td>23</td><td>.90 - 7/1/43</td><td>9/1/42</td><td>.65</td><td>-</td><td>.65</td><td>-.05</td></tr><tr><td>21</td><td>.70 - 7/1/43</td><td>12/30/42</td><td>.65</td><td>-</td><td>.65</td><td>-.05</td></tr><tr><td>20</td><td>.85 - 8/2/43</td><td>11/2/42</td><td>.65</td><td>-</td><td>.65</td><td>-.05</td></tr><tr><td>11</td><td>.65 - 8/2/43</td><td>3/1/43</td><td>.65</td><td>-</td><td>.65</td><td>-</td></tr><tr><td>31</td><td>.80 - 9/1/43</td><td>12/1/42</td><td>.70</td><td>-</td><td>.70</td><td>-.05</td></tr><tr><td>30</td><td>.80 - 10/1/43</td><td>1/2/43</td><td>.75</td><td>-</td><td>.75</td><td>-.05</td></tr><tr><td>27</td><td>.85 - 11/1/43</td><td>2/1/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>20</td><td>.80 - 12/1/43</td><td>3/1/43</td><td>.80</td><td>-</td><td>.80</td><td>-</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield column in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "When issued" prices are included beginning November 1, 1941. Dates of highs and lows, in case of recurrence, are the latest dates.
3/ Computed on mean price to call date when mean price is above par and to maturity date when mean price is below par.
4/ Excludes issues completely held by Farm Credit Administration agencies.
5/ Callable on 30 days' notice at 100-1/2 on July 3, 1943. "Yield" is computed to maturity or call, depending on which date gives the lower yield.
6/ Taxable issues.
7/ Not quoted.
8/ This security was issued in the amount of $35 millions on April 1, 1943.
60
YIELDS OF TREASURY SECURITIES MAR. 31, 1943
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 12 months are excluded.
o1
Average Yields of Long-Term Treasury and Corporate Bonds
The partially tax-exempt Treasury bond average consists of partially tax-exempt Treasury bonds which are 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.)
The taxable Treasury bond average consists of taxable Treasury bonds which are neither due nor callable for twelve years. Bonds which may not be held by all classes of investors are excluded from the average. As of March 31, 1943, there were two such bonds - the 2-1/2's of 1962-67 and the 2-1/2's of 1963-68. 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.
The corporate bond average consists of long-term high-grade corporation bonds. This average was originally compiled in 1935 for internal use in the Treasury Department, because the published averages at that time included so many bonds selling above their call prices that they had lost their sensitivity to changes in interest rates. The original Treasury average consisted of the non-callable bonds included at that time in Moody's Aaa average (except for one bond, the yield on which was unrepresentatively high). There were nine bonds in the original Treasury average, and its computation was carried back retroactively to 1933.
During 1935, a large number of the high-grade bonds which had been selling above their call prices at the time the Treasury average was first computed were refunded at lower rates of interest, and at the close of the year the Treasury average was expanded to include callable bonds with a coupon rate of interest not higher than 3-1/2 percent. There were fifteen bonds included in the average after this expansion. The average was further expanded to include twenty bonds on August 1, 1937, and was continued without further change until the middle of 1939.
In the meantime a further decrease in interest rates had caused a large proportion of the bonds in the Treasury average, despite their low coupons, to rise above their call prices, and thus to lose their sensitivity to changes
in interest rates. This situation was described in the "Treasury Bulletin" for July 1939, page 1, as follows:
"Long-term interest rates have decreased to such an extent within the past year that all of the callable bonds previously included in the Treasury average of high-grade corporate bonds are now selling above their call prices, and thus have become relatively insensitive to changes in interest rates. It has therefore been necessary to revise the Treasury index. It is not possible at the present time to obtain a broad list of corporate bonds upon which to base a satisfactory average, because all actively traded high-grade callable bonds are now selling above their call prices, and because there are very few long-term high-grade non-callable bonds other than rail. In view of these difficulties, the Treasury corporate bond average will be temporarily based upon a small list of bonds which are actually 'free' to move and so indicate changes in the underlying market. The number of bonds will be increased at some future date when additional issues suitable for inclusion in the index are available. The new Treasury index is based upon five bonds and has been carried back to September 14, 1938, when the old and new averages were identical."
The composition of the average was further revised on July 1, 1941, but the number of bonds was continued at five. Bonds now included in the average are indicated in the following table, which shows the composition of the average from its initiation to the present time. Each of the bonds now included is either non-callable or has a coupon rate of interest not exceeding 2-3/4 percent.
As indicated in the quotation from the July 1939 "Treasury Bulletin", the number of bonds in the average will be increased when additional issuance are available in sufficient number to make this practicable. This has not yet occurred, and it seems preferable, now as in 1939, that the index should consist of a small number of issues free to reflect changes in interest rates rather than of a larger number of issues unable to do this freely because of their call prices.
<table><tr><th></th><th>Bond</th><th>Date bond was first included in average</th><th>Date bond was first excluded from average</th></tr><tr><td>Rails</td><td></td><td></td><td></td></tr><tr><td></td><td>Atchison, Topeka & Sante Fe Railway Co.</td><td>General 4's of 1995</td><td>Jan. 6, 1933</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Cheesapeake & Ohio Railway Co.</td><td>4-1/2's of 1992</td><td>Jan. 6, 1933</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>New York Central Railroad Co.</td><td>3-1/2's of 1997</td><td>Jan. 6, 1933</td><td>Aug. 1, 1937</td></tr><tr><td></td><td>Norfolk & Western Railway Co.</td><td>5's of 1996</td><td>Jan. 6, 1933</td><td>July 1, 1941</td></tr><tr><td></td><td>Pennsylvania Railroad Co.</td><td>4-1/2's of 1960</td><td>Jan. 6, 1933</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Cincinnati Union Terminal Co.</td><td>3-1/2's of 1971</td><td>Aug. 1, 1937</td><td></td></tr><tr><td>Public Utilities</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>New England Telephone & Telegraph Co.</td><td>4-1/2's of 1961</td><td>Jan. 6, 1933</td><td></td></tr><tr><td></td><td>New York Gas & Electro Light, Heat & Power Co.</td><td>4's of 1949</td><td>Jan. 6, 1933</td><td>Dec. 7, 1935</td></tr><tr><td></td><td>Consumers Power Co.</td><td>3-1/2's of 1965</td><td>Dec. 7, 1935</td><td>Aug. 1, 1937</td></tr><tr><td></td><td>Dayton Power & Light Co.</td><td>3-1/2's of 1960</td><td>Dec. 7, 1935</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Duqueene Light Co.</td><td>3-1/2's of 1965</td><td>Dec. 7, 1935</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Edison Electric Illuminating Co. of Boston</td><td>3-1/2's of 1965</td><td>Aug. 1, 1937</td><td>June 1, 1937</td></tr><tr><td></td><td>Illinois Bell Telephone Co.</td><td>3-1/2's of 1970</td><td>Dec. 7, 1935</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>New York & Queens Electric Light & Power Co.</td><td>3-1/2's of 1905</td><td>Dec. 7, 1935</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>New York Edison Co.</td><td>3-1/4's of 1965</td><td>June 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Pacific Telephone & Telegraph Co.</td><td>Series B, 3-1/4's of 1966</td><td>June 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Brooklyn Edison Co.</td><td>3-1/4's of 1966</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Cincinnati Gas & Electric Co.</td><td>3-1/4's of 1966</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>New York Telephone Co.</td><td>3-1/4's of 1967</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Philadelphia Electric Co.</td><td>3-1/2's of 1967</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Southwestern Bell Telephone Co.</td><td>3-1/2's of 1964</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>West Penn Power Co.</td><td>3-1/2's of 1966</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Bell Telephone Co. of Pennsylvania</td><td>5's of 1960</td><td>Sept.14, 1938</td><td></td></tr><tr><td></td><td>Boston Edison Co.</td><td>2-3/4's of 1970</td><td>July 1, 1941</td><td></td></tr><tr><td></td><td>Illinois Bell Telephone Co.</td><td>2-3/4's of 1981</td><td>July 1, 1941</td><td></td></tr><tr><td>Industrials</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Liggett & Myers Tobacco Co.</td><td>5's of 1951</td><td>Jan. 6, 1933</td><td>Aug. 1, 1937</td></tr><tr><td></td><td>Tennessee Coal, Iron & Railroad Co.</td><td>5's of 1951</td><td>Jan. 6, 1933</td><td>June 1, 1937</td></tr><tr><td></td><td>Socony-Vacuum Oil Co.</td><td>3-1/2's of 1950</td><td>Dec. 7, 1935</td><td>Aug. 1, 1937</td></tr><tr><td></td><td>Standard Oil Co. (New Jersey)</td><td>3's of 1961</td><td>Aug. 1, 1937</td><td>Sept. 14, 1938</td></tr><tr><td></td><td>Standard Oil Co. (New Jersey)</td><td>2-3/4's of 1953</td><td>Sept.14, 1938</td><td>July 1, 1941</td></tr></table>
62
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent)
<table><tr><th>Date</th><th>Partially tax-exempt Treasury bonds</th><th>Taxable Treasury bonds</th><th>High-grade corporate bonds</th><th>Date</th><th>Partially tax-exempt Treasury bonds</th><th>Taxable Treasury bonds</th><th>High-grade corporate bonds</th><th>Date</th><th>Partially tax-exempt Treasury bonds</th><th>Taxable Treasury bonds</th><th>High-grade corporate bonds</th></tr><tr><td colspan="13">Monthly Series 1/</td></tr><tr><td>1935-Jan.</td><td>2.88</td><td>-</td><td>3.60</td><td>1938-Jan.</td><td>2.65</td><td>-</td><td>3.17</td><td>1941-Jan.</td><td>1.99</td><td>-</td><td>2.57</td></tr><tr><td>Feb.</td><td>2.79</td><td>-</td><td>3.52</td><td>Feb.</td><td>2.64</td><td>-</td><td>3.15</td><td>Feb.</td><td>2.10</td><td>-</td><td>2.71</td></tr><tr><td>Mar.</td><td>2.77</td><td>-</td><td>3.49</td><td>Mar.</td><td>2.64</td><td>-</td><td>3.16</td><td>Mar.</td><td>2.01</td><td>-</td><td>2.73</td></tr><tr><td>Apr.</td><td>2.74</td><td>-</td><td>3.47</td><td>Apr.</td><td>2.62</td><td>-</td><td>3.25</td><td>Apr.</td><td>1.96</td><td>-</td><td>2.76</td></tr><tr><td>May</td><td>2.72</td><td>-</td><td>3.48</td><td>May</td><td>2.51</td><td>-</td><td>3.14</td><td>May</td><td>1.92</td><td>-</td><td>2.75</td></tr><tr><td>June</td><td>2.72</td><td>-</td><td>3.43</td><td>June</td><td>2.52</td><td>-</td><td>3.15</td><td>June</td><td>1.91</td><td>-</td><td>2.70</td></tr><tr><td>July</td><td>2.69</td><td>-</td><td>3.35</td><td>July</td><td>2.52</td><td>-</td><td>3.12</td><td>July</td><td>1.90</td><td>-</td><td>2.66</td></tr><tr><td>Aug.</td><td>2.76</td><td>-</td><td>3.44</td><td>Aug.</td><td>2.51</td><td>-</td><td>3.10</td><td>Aug.</td><td>1.94</td><td>-</td><td>2.65</td></tr><tr><td>Sept.</td><td>2.85</td><td>-</td><td>3.47</td><td>Sept.</td><td>2.58</td><td>-</td><td>3.12</td><td>Sept.</td><td>1.94</td><td>-</td><td>2.64</td></tr><tr><td>Oct.</td><td>2.85</td><td>-</td><td>3.46</td><td>Oct.</td><td>2.48</td><td>-</td><td>3.06</td><td>Oct.</td><td>1.88</td><td>2.23</td><td>2.61</td></tr><tr><td>Nov.</td><td>2.83</td><td>-</td><td>3.41</td><td>Nov.</td><td>2.50</td><td>-</td><td>3.04</td><td>Nov.</td><td>1.85</td><td>2.22</td><td>2.57</td></tr><tr><td>Dec.</td><td>2.83</td><td>-</td><td>3.39</td><td>Dec.</td><td>2.49</td><td>-</td><td>3.02</td><td>Dec.</td><td>1.96</td><td>2.37</td><td>2.68</td></tr><tr><td>1936-Jan.</td><td>2.80</td><td>-</td><td>3.32</td><td>1939-Jan.</td><td>2.47</td><td>-</td><td>2.96</td><td>1942-Jan.</td><td>2.01</td><td>2.37</td><td>2.76</td></tr><tr><td>Feb.</td><td>2.77</td><td>-</td><td>3.26</td><td>Feb.</td><td>2.44</td><td>-</td><td>2.90</td><td>Feb.</td><td>2.09</td><td>2.39</td><td>2.80</td></tr><tr><td>Mar.</td><td>2.71</td><td>-</td><td>3.24</td><td>Mar.</td><td>2.34</td><td>-</td><td>2.87</td><td>Mar.</td><td>2.00</td><td>2.35</td><td>2.80</td></tr><tr><td>Apr.</td><td>2.68</td><td>-</td><td>3.24</td><td>Apr.</td><td>2.30</td><td>-</td><td>2.92</td><td>Apr.</td><td>1.98</td><td>2.34</td><td>2.77</td></tr><tr><td>May</td><td>2.66</td><td>-</td><td>3.22</td><td>May</td><td>2.17</td><td>-</td><td>2.86</td><td>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>Dec.</td><td>2.09</td><td>2.36</td><td>2.72</td></tr><tr><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><td>1943-Jan.</td><td>2.06</td><td>2.32</td><td>2.70</td></tr><tr><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><td>Feb.</td><td>2.06</td><td>2.38</td><td>2.68</td></tr><tr><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><td>Mar.</td><td>2.08</td><td>2.33</td><td>2.70</td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>2.76</td><td>-</td><td>3.36</td><td>May</td><td>2.38</td><td>-</td><td>2.81</td><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2.77</td><td>-</td><td>3.26</td><td>Sept.</td><td>2.18</td><td>-</td><td>2.72</td><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">Weekly Series - Saturday Figures 2/</td></tr><tr><td>1942-Oct. 3.</td><td>2.05</td><td>2.34</td><td>2.72</td><td>1942-Dec. 5.</td><td>2.09</td><td>2.36</td><td>2.72</td><td>1943-Feb. 6.</td><td>2.06</td><td>2.31</td><td>2.68</td></tr><tr><td>10.</td><td>2.05</td><td>2.33</td><td>2.71</td><td>12.</td><td>2.09</td><td>2.36</td><td>2.73</td><td>13.</td><td>2.06</td><td>2.32</td><td>2.68</td></tr><tr><td>17.</td><td>2.05</td><td>2.33</td><td>2.71</td><td>19.</td><td>2.08</td><td>2.36</td><td>2.71</td><td>20.</td><td>2.06</td><td>2.32</td><td>2.68</td></tr><tr><td>24.</td><td>2.05</td><td>2.32</td><td>2.71</td><td>26.</td><td>2.08</td><td>2.36</td><td>2.72</td><td>27.</td><td>2.05</td><td>2.32</td><td>2.69</td></tr><tr><td>31.</td><td>2.05</td><td>2.33</td><td>2.72</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Nov. 7.</td><td>2.05</td><td>2.33</td><td>2.70</td><td>1943-Jan. 2.</td><td>2.08</td><td>2.34</td><td>2.72</td><td>Mar. 6.</td><td>2.06</td><td>2.33</td><td>2.71</td></tr><tr><td>14.</td><td>2.05</td><td>2.32</td><td>2.70</td><td>9.</td><td>2.06</td><td>2.32</td><td>2.71</td><td>13.</td><td>2.07</td><td>2.33</td><td>2.70</td></tr><tr><td>21.</td><td>2.06</td><td>2.35</td><td>2.70</td><td>16.</td><td>2.06</td><td>2.32</td><td>2.70</td><td>20.</td><td>2.09 1/</td><td>2.33</td><td>2.70</td></tr><tr><td>28.</td><td>2.09</td><td>2.36</td><td>2.72</td><td>23.</td><td>2.06</td><td>2.32</td><td>2.69</td><td>27.</td><td>2.08</td><td>2.33</td><td>2.68</td></tr><tr><td colspan="13">Daily Series</td></tr><tr><td>1943-Mar. 1.</td><td>2.06</td><td>2.32</td><td>2.70</td><td>1943-Mar. 11.</td><td>2.07</td><td>2.34</td><td>2.69</td><td>1943-Mar. 22.</td><td>2.09</td><td>2.33</td><td>2.69</td></tr><tr><td>2.</td><td>2.06</td><td>2.32</td><td>2.70</td><td>12.</td><td>2.07</td><td>2.34</td><td>2.70</td><td>23.</td><td>2.09</td><td>2.33</td><td>2.69</td></tr><tr><td>3.</td><td>2.06</td><td>2.32</td><td>2.71</td><td>13.</td><td>2.07</td><td>2.33</td><td>2.70</td><td>24.</td><td>2.09</td><td>2.33</td><td>2.69</td></tr><tr><td>4.</td><td>2.06</td><td>2.33</td><td>2.71</td><td></td><td></td><td></td><td></td><td>25.</td><td>2.09</td><td>2.33</td><td>2.68</td></tr><tr><td>5.</td><td>2.06</td><td>2.33</td><td>2.71</td><td>15.</td><td>2.09 3/</td><td>2.33</td><td>2.72</td><td>26.</td><td>2.09</td><td>2.33</td><td>2.68</td></tr><tr><td>6.</td><td>2.06</td><td>2.33</td><td>2.71</td><td>16.</td><td>2.09</td><td>2.33</td><td>2.72</td><td>27.</td><td>2.08</td><td>2.33</td><td>2.68</td></tr><tr><td>8.</td><td>2.07</td><td>2.33</td><td>2.70</td><td>17.</td><td>2.09</td><td>2.33</td><td>2.70</td><td>29.</td><td>2.08</td><td>2.32</td><td>2.69</td></tr><tr><td>9.</td><td>2.07</td><td>2.34</td><td>2.69</td><td>18.</td><td>2.09</td><td>2.33</td><td>2.70</td><td>30.</td><td>2.08</td><td>2.32</td><td>2.70</td></tr><tr><td>10.</td><td>2.07</td><td>2.34</td><td>2.69</td><td>19.</td><td>2.09</td><td>2.33</td><td>2.70</td><td>31.</td><td>2.07</td><td>2.32</td><td>2.70</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/ Monthly averages of daily figures. Prior to April 1, 1938, corporate bonds are averages of Saturday figures.
2/ On days when the exchanges are closed, the date and prices of the previous day are used.
3/ Indicate change in composition of the average.
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS Monthly Series 1
GOVERNMENT CORPORATIONS AND CREDIT AGENCIES OF THE UNITED STATES
— 64 —
65
Assets and Liabilities of Government Corporations and Credit Agencies
February 28, 1943
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th rowspan="2">Total</th><th rowspan="2">Loans</th><th rowspan="2">Preferred capital stock, etc.</th><th colspan="4">Investments</th><th colspan="4">Interagency assets</th></tr><tr><th>Cash 1/</th><th>U.S. Government securities</th><th>Security 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 and paid-in surplus of Government corporations</th><th>Other assets</th></tr><tr><td>Banks for cooperatives</td><td>264.8</td><td>121.1</td><td>-</td><td>21.7</td><td>33.6</td><td>.2</td><td>86.1</td><td>1.8</td><td>.1</td><td>*</td><td>-</td><td>.1</td></tr><tr><td>Commodity Credit Corporation</td><td>1,997.5</td><td>270.4</td><td>-</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>102.8</td><td>7.3</td><td>-</td><td>-</td><td>1,614.4</td></tr><tr><td>Disaster Loan Corporation</td><td>21.2</td><td>6.4</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>14.8</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Export-Import Bank of Washington</td><td>198.5</td><td>120.6</td><td>-</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>77.4</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>258.8</td><td>239.6</td><td>-</td><td>15.2</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>3.8</td></tr><tr><td>Farm Security Administration</td><td>534.7</td><td>454.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>24.7</td><td>.8</td><td>54.2</td><td>-</td><td>.6</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>32.7</td><td>-</td><td>-</td><td>4.3</td><td>-</td><td>-</td><td>-</td><td>7.8</td><td>-</td><td>-</td><td>-</td><td>20.6</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>682.4</td><td>38.1</td><td>-</td><td>21.0</td><td>569.3</td><td>-</td><td>-</td><td>30.8</td><td>.1</td><td>.4</td><td>-</td><td>22.7</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,141.6</td><td>489.6</td><td>-</td><td>9.5</td><td>-</td><td>45.0</td><td>530.2</td><td>51.3</td><td>-</td><td>5.4</td><td>-</td><td>10.5</td></tr><tr><td>Federal home loan banks</td><td>264.0</td><td>95.6</td><td>-</td><td>43.7</td><td>121.4</td><td>2.0</td><td>-</td><td>1.2</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Federal Housing Administration</td><td>117.0</td><td>-</td><td>-</td><td>17.9</td><td>51.1</td><td>-</td><td>*</td><td>42.0</td><td>1.3</td><td>.4</td><td>-</td><td>4.3</td></tr><tr><td>Federal intermediate credit banks</td><td>384.6</td><td>247.9</td><td>-</td><td>30.7</td><td>44.0</td><td>-</td><td>-</td><td>1.9</td><td>-</td><td>59.9</td><td>-</td><td>.2</td></tr><tr><td>Federal land banks 4/</td><td>2,083.0</td><td>1,563.7</td><td>-</td><td>39.8</td><td>179.0</td><td>81.5</td><td>8.0</td><td>153.2</td><td>5.4</td><td>8.6</td><td>-</td><td>43.9</td></tr><tr><td>Federal National Mortgage Association</td><td>214.4</td><td>208.5</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>-</td><td>4.8</td><td>*</td><td>-</td><td>-</td><td>.4</td></tr><tr><td>Federal Prison Industries, Incorporated</td><td>16.0</td><td>-</td><td>-</td><td>4.4</td><td>-</td><td>-</td><td>-</td><td>2.5</td><td>7.4</td><td>-</td><td>-</td><td>1.8</td></tr><tr><td>Federal Public Housing Authority</td><td>549.4</td><td>378.1</td><td>-</td><td>30.3</td><td>7.2</td><td>-</td><td>*</td><td>6.1</td><td>127.6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>139.0</td><td>-</td><td>-</td><td>.7</td><td>31.7</td><td>99.6</td><td>-</td><td>7.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 5/</td><td>4.1</td><td>1.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>2,032.4</td><td>1,531.5</td><td>109.6</td><td>53.9</td><td>-</td><td>-</td><td>10.0</td><td>5.7</td><td>2.6</td><td>-</td><td>100.0</td><td>219.1</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>24.1</td><td>.4</td><td>-</td><td>1.5</td><td>3.8</td><td>-</td><td>-</td><td>1.4</td><td>17.0</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.6</td><td>2.6</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 5/</td><td>65.5</td><td>-</td><td>-</td><td>10.7</td><td>7.2</td><td>-</td><td>*</td><td>.7</td><td>42.1</td><td>4.2</td><td>-</td><td>.7</td></tr><tr><td>Production credit corporations</td><td>127.5</td><td>-</td><td>-</td><td>.5</td><td>35.0</td><td>-</td><td>91.4</td><td>.4</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Public Works 6/</td><td>89.2</td><td>89.2</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>22.5</td><td>6.1</td><td>1.2</td><td>2.3</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>*</td><td>-</td><td>12.6</td></tr><tr><td>Reconstruction Finance Corporation</td><td>6,531.6</td><td>1,526.9</td><td>361.2</td><td>21.2</td><td>62.4</td><td>-</td><td>8.3</td><td>29.57</td><td>.9</td><td>4,105.8</td><td>360.7</td><td>54.7</td></tr><tr><td>Regional agricultural credit corporations</td><td>63.0</td><td>3.1</td><td>-</td><td>59.8</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>RFC Mortgage Company</td><td>109.3</td><td>96.2</td><td>-</td><td>*</td><td>-</td><td>.4</td><td>-</td><td>2.2</td><td>6.7</td><td>-</td><td>-</td><td>3.7</td></tr><tr><td>Rural Electrification Administration</td><td>357.4</td><td>344.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.8</td><td>-</td><td>3.7</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>627.1</td><td>-</td><td>-</td><td>7.6</td><td>.2</td><td>-</td><td>-</td><td>6.9</td><td>610.1</td><td>2.2</td><td>-</td><td>.1</td></tr><tr><td>Tennessee Valley Association</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Cooperatives, Inc.</td><td>.3</td><td>.3</td><td>*</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>3,832.8</td><td>20.2</td><td>-</td><td>*</td><td>-</td><td>-</td><td>57.1</td><td>28.0</td><td>17.3</td><td>4.0</td><td>-</td><td>3,706.2</td></tr><tr><td>War corporations and activities (World War I) 9/</td><td>6.2</td><td>-</td><td>*</td><td>.6</td><td>.1</td><td>-</td><td>*</td><td>4.9</td><td>*</td><td>-</td><td>-</td><td>.5</td></tr><tr><td>War corporations (World War II) 10/</td><td>5,040.6</td><td>139.4</td><td>1.1</td><td>189.4</td><td>-</td><td>-</td><td>1.0</td><td>629.5</td><td>12.3</td><td>.5</td><td>-</td><td>4,067.3</td></tr><tr><td>War Shipping Administration</td><td>826.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>187.8</td><td>500.2</td><td>50.4</td><td>-</td><td>87.8</td></tr><tr><td>Other Government agencies 11/</td><td>5,904.7</td><td>26.3</td><td>11.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5,839.0</td><td>-</td><td>27.6</td></tr><tr><td>Gross total</td><td>34,566.6</td><td>8,022.4</td><td>484.9</td><td>589.6</td><td>1,146.0</td><td>229.4</td><td>792.1</td><td>1,439.7</td><td>1,359.3</td><td>10,138.7</td><td>460.7</td><td>9,903.9</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-10,599.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-10,138.7</td><td>-460.7</td><td>-</td></tr><tr><td>Net total</td><td>23,967.2</td><td>8,022.4</td><td>484.9</td><td>589.6</td><td>1,146.0</td><td>229.4</td><td>792.1</td><td>1,439.7</td><td>1,359.3</td><td>0</td><td>0</td><td>9,903.9</td></tr></table>
(Continued on following page)
66
Assets and Liabilities of Government Corporations and Credit Agencies
February 28, 1943 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th colspan="5">Liabilities and reserves</th><th colspan="6">Proprietary interest</th></tr><tr><th>Total</th><th>Guaranteed by United States (includes accrued interest)</th><th>Not guaranteed by United States</th><th>Treasury</th><th>Due to Government corporations and agencies</th><th>He-served</th><th>Excess of assets (Total proprietary interest)</th><th>Pri-vately owned</th><th>Total</th><th>Owned by United States 12/</th><th>Capital stock</th><th>Surplus</th><th>Non-stock</th></tr><tr><td>Banks for cooperatives</td><td>62.3</td><td>-</td><td>.8</td><td>-</td><td>59.9</td><td>1.6</td><td>202.5</td><td>5.7</td><td>196.9</td><td>172.0</td><td>24.9</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,915.0</td><td>780.9</td><td>267.4</td><td>751.0</td><td>-</td><td>115.7</td><td>82.5</td><td>-</td><td>82.5</td><td>100.0</td><td>-17.5</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>.2</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>21.0</td><td>-</td><td>21.0</td><td>24.0</td><td>-3.0</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1.2</td><td>-</td><td>.3</td><td>-</td><td>.9</td><td>-</td><td>197.3</td><td>-</td><td>197.3</td><td>175.0</td><td>22.3</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>213.7</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>213.4</td><td>45.2</td><td>-</td><td>45.2</td><td>-</td><td>-</td><td>45.2</td></tr><tr><td>Farm Security Administration</td><td>238.7</td><td>-</td><td>17.4</td><td>-</td><td>221.2</td><td>-</td><td>296.0</td><td>-</td><td>296.0</td><td>-</td><td>-</td><td>296.0</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>17.9</td><td>-</td><td>17.9</td><td>-</td><td>-</td><td>.1</td><td>14.7</td><td>-</td><td>14.7</td><td>35.0</td><td>-20.3</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>393.1</td><td>-</td><td>23.2</td><td>-</td><td>-</td><td>369.9</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>1,041.6</td><td>942.4</td><td>8.4</td><td>-</td><td>2.1</td><td>83.7</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>71.0</td><td>-</td><td>71.0</td><td>-</td><td>-</td><td>-</td><td>193.0</td><td>68.2</td><td>124.7</td><td>124.7</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>26.5</td><td>21.7</td><td>4.6</td><td>-</td><td>-</td><td>.2</td><td>90.5</td><td>-</td><td>90.5</td><td>-</td><td>-</td><td>90.5</td></tr><tr><td>Federal intermediate credit banks</td><td>296.6</td><td>-</td><td>296.4</td><td>-</td><td>-</td><td>.1</td><td>88.1</td><td>-</td><td>88.1</td><td>60.0</td><td>28.1</td><td>-</td></tr><tr><td>Federal land banks 1/</td><td>1,593.0</td><td>-</td><td>1,528.6</td><td>-</td><td>1.4</td><td>63.1</td><td>429.9</td><td>226.8</td><td>263.2</td><td>117.1</td><td>146.1</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>189.0</td><td>-</td><td>90.3</td><td>-</td><td>98.8</td><td>-</td><td>25.4</td><td>-</td><td>25.4</td><td>10.0</td><td>15.4</td><td>-</td></tr><tr><td>Federal Prison Industries, Incorporated</td><td>.5</td><td>-</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>15.6</td><td>-</td><td>15.6</td><td>-</td><td>11.5</td><td>4.1</td></tr><tr><td>Federal Public Housing Authority</td><td>407.2</td><td>114.3</td><td>.7</td><td>283.5</td><td>-</td><td>8.6</td><td>142.2</td><td>-</td><td>142.2</td><td>1.0</td><td>141.2</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>2.0</td><td>-</td><td>2.0</td><td>-</td><td>-</td><td>-</td><td>136.9</td><td>-</td><td>136.9</td><td>100.0</td><td>36.9</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4.1</td><td>-</td><td>4.1</td><td>-</td><td>-</td><td>4.1</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,947.0</td><td>1,554.0</td><td>32.6</td><td>310.5</td><td>-</td><td>50.0</td><td>85.4</td><td>-</td><td>85.4</td><td>200.0</td><td>-114.6</td><td>-</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>.8</td><td>-</td><td>.6</td><td>-</td><td>-</td><td>.2</td><td>23.3</td><td>-</td><td>23.3</td><td>12.0</td><td>11.3</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.6</td><td>-</td><td>2.6</td><td>-</td><td>-</td><td>2.6</td></tr><tr><td>Pennsylvania Railroad Company 5/</td><td>7.7</td><td>-</td><td>5.4</td><td>-</td><td>.5</td><td>1.8</td><td>57.8</td><td>-</td><td>57.8</td><td>7.0</td><td>50.8</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>.3</td><td>127.1</td><td>-</td><td>127.1</td><td>120.0</td><td>7.1</td><td>-</td></tr><tr><td>Public Works 6/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>89.2</td><td>-</td><td>89.2</td><td>-</td><td>-</td><td>89.2</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>22.3</td><td>-</td><td>22.3</td><td>-</td><td>-</td><td>22.3</td></tr><tr><td>Reconstruction Finance Corporation</td><td>5,909.57</td><td>943.88</td><td>413.27</td><td>4,369.4</td><td>13/</td><td>58.2</td><td>125.0</td><td>622.1</td><td>622.1</td><td>325.0</td><td>297.18</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>1.0</td><td>-</td><td>.9</td><td>-</td><td>-</td><td>.2</td><td>62.0</td><td>-</td><td>62.0</td><td>44.5</td><td>17.5</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>84.1</td><td>-</td><td>4.1</td><td>-</td><td>80.0</td><td>-</td><td>25.2</td><td>-</td><td>25.2</td><td>25.0</td><td>.2</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>229.7</td><td>-</td><td>-</td><td>229.7</td><td>-</td><td>-</td><td>127.6</td><td>-</td><td>127.6</td><td>-</td><td>-</td><td>127.6</td></tr><tr><td>Tennessee Valley Authority</td><td>81.6</td><td>-</td><td>20.2</td><td>56.8</td><td>.4</td><td>4.3</td><td>545.4</td><td>-</td><td>545.4</td><td>-</td><td>-</td><td>545.4</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>-</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>1,507.1</td><td>-</td><td>1,479.2</td><td>-</td><td>-</td><td>27.9</td><td>2,325.6</td><td>-</td><td>2,325.6</td><td>-</td><td>-</td><td>2,325.6</td></tr><tr><td>War corporations and activities (World War I) 2/</td><td>.7</td><td>-</td><td>.1</td><td>-</td><td>.1</td><td>.4</td><td>5.5</td><td>-</td><td>5.5</td><td>25.5</td><td>-24.0</td><td>4.0</td></tr><tr><td>War corporations (World War II) 10/</td><td>4,921.1</td><td>-</td><td>1,367.4</td><td>-</td><td>3,542.1</td><td>11.6</td><td>119.4</td><td>-</td><td>119.4</td><td>186.6</td><td>-26.9</td><td>19.8</td></tr><tr><td>War Shipping Administration</td><td>227.0</td><td>-</td><td>94.2</td><td>-</td><td>132.8</td><td>-</td><td>599.2</td><td>-</td><td>599.2</td><td>-</td><td>-</td><td>599.2</td></tr><tr><td>Other Government agencies 11/</td><td>72.2</td><td>-</td><td>-</td><td>-</td><td>72.2</td><td>-</td><td>5,832.5</td><td>-</td><td>5,832.5</td><td>11.8</td><td>-</td><td>5,820.7</td></tr><tr><td>Gross total</td><td>21,459.7</td><td>4,357.1</td><td>5,747.8</td><td>5,771.1</td><td>4,367.6</td><td>1,216.0</td><td>13,107.0</td><td>440.0</td><td>12,667.0</td><td>2,126.2</td><td>544.4</td><td>9,996.4</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-10,138.7</td><td>-</td><td>-</td><td>-5,771.1</td><td>-4,367.6</td><td>-</td><td>-460.7</td><td>-</td><td>-460.7</td><td>-459.7</td><td>-1.0</td><td>-</td></tr><tr><td>Net total</td><td>11,320.9</td><td>4,357.1</td><td>5,747.8</td><td>0</td><td>0</td><td>1,216.0</td><td>12,646.3</td><td>440.0</td><td>12,206.3</td><td>1,666.5</td><td>543.4</td><td>9,996.4</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/ 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 "land-lease" funds which figures are not available, and which would otherwise be shown under "Due from Government corporations and agencies".
4/ Includes the assets and liabilities of the Federal Land Banks of Louisville and Houston which have retired stock and paid-in surplus previously held by the Federal Government.
5/ Figures shown are as of January 31, 1943, the latest available.
6/ Consists of loans made by Public Works Administration for $38,768,747 and by War Public Works for $454,706.
1/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corporations by Executive order effective October 31, 1942.
8/ Adjusted for interagency items and items in transit.
9/ Comprises Navy Department (sale of surplus supplies), U. S. Housing Corporation, U. S. Railroad Administration and U. S. Spruce Production Corporation.
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, Smelter War Plants Corporation, United States Commercial Company and War Damage Corporation.
11/ Comprises Treasury Department and other Government agencies act listed in this statement.
12/ Excludes the interest of the United States represented by obligations held by the Treasury.
13/ Excludes $45,000,000 in transit to Federal Farm Mortgage Corporation.
67
Sources of Funds of Certain Government Corporations and Credit Agencies for the First Eight Months, Fiscal Year 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscounts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 22,000,000</td><td>$ 24,099,362</td><td>-</td><td>-</td><td>$-332,500</td></tr><tr><td>Commodity Credit Corporation</td><td>-9,815,514 2/</td><td>-</td><td>$ 350,000,000</td><td>$ 59,165,000</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>-</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</td><td>-</td><td>198,789</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-</td><td>-</td><td>-263,000,000</td><td>-</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>-46,000,000</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-9,672,519</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>8,229,013</td><td>-</td><td>9,000,000</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>-241,000,000</td><td>-</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>-</td><td>8,151,000</td><td>1,873,657,000</td><td>-323,499,000</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>15,506,769</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>2,040,521</td><td>564,870</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 4/</td><td>150,000,000</td><td>1,741,866,127</td><td>-</td><td>-</td><td>1,500,000</td></tr><tr><td>Total</td><td>$172,454,020</td><td>$1,780,714,338</td><td>$1,728,657,000</td><td>$-310,334,000</td><td>$1,117,500</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 5/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 77,758,057</td><td>$ 725,049</td><td>$ 24,074</td><td>$ 124,224,041</td></tr><tr><td>Commodity Credit Corporation</td><td>$1,031,951,858</td><td>73,262,718</td><td>6,177,387</td><td>30,776,607</td><td>1,541,518,055</td></tr><tr><td>Disaster Loan Corporation</td><td>21,231</td><td>5,486,569</td><td>-956,162</td><td>81,561</td><td>4,623,199</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>10,094,355</td><td>3,463,259</td><td>-</td><td>13,557,614</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>18,631,358</td><td>68,054,560</td><td>136,132</td><td>87,020,840</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>6,434,305</td><td>90,106,987</td><td>40,661,295</td><td>9,546,944</td><td>-116,250,469</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>154,332,061</td><td>3,161,007</td><td>-255,375</td><td>111,237,693</td></tr><tr><td>Federal National Mortgage Association</td><td>660,682</td><td>13,413,659</td><td>6,640,828</td><td>-133,323</td><td>10,909,327</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>130,039,058</td><td>8,701,028</td><td>249,371</td><td>156,218,470</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>4,436,667</td><td>15,595</td><td>4,452,262</td></tr><tr><td>Home Owners' Loan Corporation</td><td>38,490,751</td><td>114,952,241</td><td>70,317,585</td><td>65,977,337</td><td>73,737,914</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>4,873,026</td><td>243,831,606</td><td>65,519,724</td><td>2,221,091</td><td>1,374,754,446</td></tr><tr><td>RFC Mortgage Company</td><td>247,885</td><td>15,417,978</td><td>2,497,407</td><td>310,638</td><td>33,980,677</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>8,139,581</td><td>5,377,088</td><td>35</td><td>16,122,094</td></tr><tr><td>War corporations 4/</td><td>472,930,780</td><td>101,952,558</td><td>4,493,984</td><td>999,062,513</td><td>3,71,805,973</td></tr><tr><td>Total</td><td>$1,555,610,518</td><td>$1,087,418,796</td><td>$289,260,706</td><td>$1,108,013,200</td><td>$7,412,912,136</td></tr></table>
Source: Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Represents balance of repayment of amounts paid to the Commodity Credit Corporation for capital impairment on basis of appraisal of the corporation as of March 31, 1942, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938.
3/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942.
4/ Comprises Cargoes, Incorporated, Defense Ropes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation.
5/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
68
Uses of Funds of Certain Government Corporations and Credit Agencies for the First Eight Months, Fiscal Year 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgage 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 87,169</td><td>-</td><td>-</td><td>$ 74,080,004</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>2,737,881</td><td>-</td><td>$1,448,932,039</td><td>83,560,931</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>249,536</td><td>$ 8,043</td><td>-</td><td>831,459</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>128,446</td><td>6,353</td><td>-</td><td>17,905,145</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>2,790,623</td><td>-</td><td>-</td><td>8,740,646</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>5,501,664</td><td>662,951</td><td>1,862,153</td><td>13,787,987</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>935,401</td><td>-</td><td>-</td><td>57,310,654</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>631,613</td><td>978,671</td><td>-</td><td>6,570,748</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>2,817,706</td><td>821,835</td><td>3,612,040</td><td>114,820,024</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>175,819</td><td>23,560</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>7,185,396</td><td>11,079,313</td><td>9,252,684</td><td>7,004,595</td><td>$25,856,150</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>7,287,614</td><td>3,210,377</td><td>478,418</td><td>295,860,504</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>603,988</td><td>210,340</td><td>1,858,556</td><td>29,858,763</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>1,929,019</td><td>-</td><td>-</td><td>11,140,014</td><td>-</td></tr><tr><td>War corporations 3/</td><td>4,402,151</td><td>6,056,986</td><td>2,752,675,924</td><td>77,556,672</td><td>-</td></tr><tr><td>Total</td><td>$37,464,026</td><td>$23,064,434</td><td>$4,218,672,394</td><td>$799,028,145</td><td>$25,856,150</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net)</th><th>Allocations, rediscounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 56,274,136</td><td>$ 7,821,155</td><td>$ 192,724</td><td>$ 21,716</td><td>$ 138,476,904</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-4,446,459</td><td>7,652,728</td><td>4,177,633</td><td>1,542,614,752</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>3,534,679</td><td>-</td><td>-523</td><td>4,623,199</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-3,245,603</td><td>-</td><td>-</td><td>14,794,341</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>79,082,586</td><td>-</td><td>-</td><td>-1,055,527</td><td>89,558,328</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-158,579,040</td><td>-</td><td>14,973,840</td><td>2,153,842</td><td>-119,636,603</td></tr><tr><td>Federal home loan banks</td><td>54,023,294</td><td>-</td><td>2,468,470</td><td>97,465</td><td>114,835,284</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>2,737,548</td><td>-9,252</td><td>10,909,327</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>2,984,534</td><td>4,327,775</td><td>129,384,514</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>8,545,156</td><td>-</td><td>-</td><td>-623,710</td><td>8,126,826</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-47,502,200</td><td>-</td><td>20,774,751</td><td>59,814</td><td>33,710,483</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>1,000,000</td><td>1,550,537,648</td><td>33,101,644</td><td>7,536,008</td><td>1,899,012,213</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>1,633,584</td><td>-184,554</td><td>35,980,677</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>6,599,739</td><td>-</td><td>19,668,772</td></tr><tr><td>War corporations 3/</td><td>1,000,000</td><td>118,053,599</td><td>836,824</td><td>341,861,668</td><td>3,302,443,823</td></tr><tr><td>Total</td><td>$ -6,156,068</td><td>$1,672,255,019</td><td>$93,956,386</td><td>$358,362,355</td><td>$7,222,502,840</td></tr></table>
Source: Reports received from the corporations and agencies. Date on basis of checke issued.
1/ Receipts from the repayment of mortgage loans appear under "Repayment of loans" in the statement of sources of funds.
2/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942.
3/ Comprises Cargoe, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metale Reserve Company, Rubber Reserve Company, Smaller War Plants Corporation, United States Commercial Company and War Damage Corporation.
4/ Includes expenditures for contributions and subrogated shares
4) includes expenditure for contributions and subrogated shares or claims in insured financial institutions.
69
Sources of Funds of Certain Government Corporations and Credit Agencies
from Inception of Organization through February 28, 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, redescents, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net) 2/</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 72,000,000</td><td>$ 35,035,471</td><td>-</td><td>-</td><td>$ 895,000</td></tr><tr><td>Commodity Credit Corporation</td><td>243,950,524 3/</td><td>-</td><td>$ 750,000,000</td><td>$ 760,219,000</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>Export-Import Bank of Washington</td><td>1,000,000</td><td>-</td><td>-</td><td>-</td><td>174,000,000</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>150,000,000</td><td>138,789</td><td>-</td><td>-</td><td>139,299,557</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>100,000,000 4/</td><td>-</td><td>-</td><td>929,764,200</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>45,500,000</td><td>124,741,000 5/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>94,443,792</td><td>-</td><td>85,240,000</td><td>11,000,000</td></tr><tr><td>Federal Public Housing Authority</td><td>55,928,480</td><td>-</td><td>283,000,000</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>310,000,000</td><td>3,114,453,550</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>325,000,000</td><td>8,251,000</td><td>4,407,575,446</td><td>896,153,000</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>77,791,529</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>139,012,441</td><td>228,462,742</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 7/</td><td>150,000,000</td><td>3,568,511,445</td><td>-</td><td>-</td><td>36,601,000</td></tr><tr><td>Total</td><td>$1,460,891,445</td><td>$4,012,694,768</td><td>$5,750,575,446</td><td>$5,945,486,750</td><td>$611,536,557</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans &/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 388,772,697</td><td>$ 12,200,469</td><td>$ 4,683,550</td><td>$ 513,587,217</td></tr><tr><td>Commodity Credit Corporation</td><td>$2,109,530,671</td><td>1,086,534,409</td><td>36,998,095</td><td>40,441,989</td><td>5,027,674,682</td></tr><tr><td>Disaster loan Corporation</td><td>161,831</td><td>23,353,592</td><td>881,781</td><td>115,695</td><td>48,512,900</td></tr><tr><td>Export-import Bank of Washington</td><td>-</td><td>130,952,246</td><td>20,642,380</td><td>707,119</td><td>327,301,746</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>120,552,351</td><td>435,432,611</td><td>4,550,859</td><td>850,034,168</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>28,378,911</td><td>496,833,539</td><td>535,923,067</td><td>22,912,477</td><td>2,113,812,194</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>890,621,027</td><td>49,840,076</td><td>81,081,961 9/</td><td>1,191,784,064</td></tr><tr><td>Federal National Mortgage Association</td><td>1,922,448</td><td>59,254,731</td><td>35,788,312</td><td>4,518,930</td><td>292,168,213</td></tr><tr><td>Federal Public Housing Authority</td><td>951,401</td><td>804,677,793</td><td>48,762,226</td><td>1,569,504</td><td>1,309,046,404</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>47,522,201</td><td>234,565</td><td>147,756,766</td></tr><tr><td>Home Owners' Loan Corporation</td><td>222,948,018</td><td>1,299,097,642</td><td>1,053,557,881</td><td>94,402,464</td><td>6,294,459,555</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>32,607,845</td><td>5,936,294,024</td><td>752,033,190</td><td>124,033,700</td><td>12,481,948,205</td></tr><tr><td>RPC Mortgage Company</td><td>1,022,080</td><td>153,082,649</td><td>18,063,517</td><td>5,055,155</td><td>280,014,929</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>20,845,650</td><td>21,134,233</td><td>175</td><td>409,455,840</td></tr><tr><td>War corporations 1/</td><td>833,986,970</td><td>103,257,788</td><td>7,418,101</td><td>1,191,650,111</td><td>5,891,425,414</td></tr><tr><td>Total</td><td>$3,231,510,175</td><td>$11,514,130,138</td><td>$3,076,198,140</td><td>$1,575,958,284</td><td>$37,178,981,703</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
Except for the H.O.L.C., 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 H.O.L.C., 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.
31
Includes $3,000,000 H.I.R.A.; $97,000,000 B.F.C. included in notes canceled by the Treasury (See footnote 4); end $143,950,524 restoration of Capital Impairment, which is net of repayments to the Treasury of $13,756,731 on the basis of March 31, 1940 appraisal, and $27,815,514 on the basis of March 31, 1942 appraisal of the corporation, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938
4
Public No. 442 - 75th Congress, approved March 8, 1938. These funds were furnished by the R.F.C. from the proceeds of its notes sold to the Treasury, such amounts being included in
the total of obligations of the corporation canceled by the Secretary of the Treasury pursuant to the Act of February 24, 1938.
5
The R.F.C. 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.
6/
Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the B.F.C. by Executive order effective October 31, 1942.
P
Comprises Cargoes, Incorporated, Defense Homee 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 a partnership
of
loans are shown as "Sale of other property acquired". Includee $52,784,325 paid-in capital stock held by member institutions.
70
Uses of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through February 28, 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadminis-trative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 1,097,553</td><td>-</td><td>-</td><td>$ 420,503,538</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>13,722,315</td><td>-</td><td>$2,636,378,170</td><td>2,233,768,484</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>3,713,112</td><td>$ 137,808</td><td>-</td><td>30,086,399</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>819,997</td><td>18,252</td><td>-</td><td>251,536,950</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>30,102,381</td><td>-</td><td>-</td><td>196,145,720</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>84,527,920</td><td>6,445,873</td><td>18,600,723</td><td>1,076,116,908</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>11,776,108</td><td>-</td><td>-</td><td>986,244,556</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>4,495,238</td><td>5,003,207</td><td>-</td><td>270,570,453</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>22,388,250</td><td>7,536,618</td><td>29,916,622</td><td>1,170,349,097</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1,798,852</td><td>90,595</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>240,321,207</td><td>149,470,040</td><td>154,722,915</td><td>3,276,268,779</td><td>$1,571,991,9502/</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>98,741,127</td><td>13,056,402</td><td>478,418</td><td>7,930,930,840</td><td>-</td></tr><tr><td>RFC Mortgage Company</td><td>5,777,361</td><td>4,863,477</td><td>9,845,726</td><td>250,485,174</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>16,868,009</td><td>-</td><td>-</td><td>365,756,023</td><td>-</td></tr><tr><td>War corporations 4/</td><td>6,152,870</td><td>529,496,307</td><td>4,160,994,328</td><td>150,584,503</td><td>-</td></tr><tr><td>Total</td><td>$542,302,300</td><td>$716,118,579</td><td>$7,010,936,902</td><td>$18,609,347,424</td><td>$1,571,991,950</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) 5/</th><th>Allocations, redisc- ounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other ex- penditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 69,924,878</td><td>$ 7,821,155</td><td>$ 853,861</td><td>$ 3,542,478</td><td>$ 503,743,462</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>79,885,726</td><td>38,956,761</td><td>22,533,240</td><td>5,025,244,696</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>14,574,577</td><td>-</td><td>- 3</td><td>48,511,900</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>71,604,397</td><td>2,362,329</td><td>593,801</td><td>326,935,726</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>571,030,740</td><td>-</td><td>-</td><td>32,344,131</td><td>829,622,971</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>575,234,800</td><td>-</td><td>323,100,859</td><td>22,744,563</td><td>2,106,771,645</td></tr><tr><td>Federal home loan banks</td><td>123,391,209</td><td>-</td><td>26,238,898</td><td>410,769</td><td>1,148,061,540</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>11,851,169</td><td>248,146</td><td>292,168,213</td></tr><tr><td>Federal Public Housing Authority</td><td>7,070,000</td><td>-</td><td>9,307,813</td><td>19,105,817</td><td>1,265,674,217</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>131,390,994</td><td>-</td><td>3,035,326</td><td>10,746,246 6/</td><td>147,062,013</td></tr><tr><td>Home Owners' Loan Corporation</td><td>219,567,660</td><td>-</td><td>560,971,134</td><td>7,227,643</td><td>6,180,541,328</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>369,041,000</td><td>3,746,986,876</td><td>298,357,086</td><td>23,320,932</td><td>12,480,912,681</td></tr><tr><td>RFC Mortgage Company</td><td>-</td><td>-</td><td>8,809,543</td><td>232,521</td><td>280,013,801</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>18,815,228</td><td>371,526</td><td>401,810,787</td></tr><tr><td>War corporations 4/</td><td>1,000,000</td><td>123,514,205</td><td>837,572</td><td>743,474,902</td><td>5,716,054,687</td></tr><tr><td>Total</td><td>$2,067,651,281</td><td>$4,044,386,936</td><td>$1,303,497,579</td><td>$886,896,718</td><td>$36,753,129,667</td></tr></table>
Source: Reports received from the corporations and agencies. Data on basis of checks issued.
1/ Receipts from the repayment of mortgage loans appear under "Repayment of loans" in the statement of sources of funds.
2/ Includes the retirement of those obligations which were in effect refunded through sale of securities to the Treasury.
3/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942.
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 Plante Corporation, United States Commercial Company and War Damage Corporation.
5/ Includes U. S. Government bonds in the amount of $532,815,345 as follows: Federal Deposit Insurance Corporation, $398,540,598; Federal Savings and Loan Insurance Corporation, $21,164,500; Federal Public Housing Authority, $7,070,000; Federal home loan banks, $100,490,247; Central Bank for Cooperatives, $5,550,000.
6/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
INTERNAL REVENUE STATISTICS
- 71 -
72
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 2/</th><th>Corporation, income and excess profits 3/</th><th>Miscellaneous profits taxes 4/</th><th>Total</th><th>Social Security taxes 5/ 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>633,648</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>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>3,494,330</td><td>1,427,445</td><td>674,416</td><td>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>1,286,312</td><td>1,299,918</td><td>42,786</td><td>742,660</td><td>502,917</td><td>90,267</td><td>149,476</td></tr><tr><td>1939</td><td>5,162,355</td><td>2,185,105</td><td>1,028,834</td><td>1,122,531</td><td>33,740</td><td>740,429</td><td>529,835</td><td>101,167</td><td>109,427</td></tr><tr><td>1940</td><td>5,322,768</td><td>2,129,606</td><td>982,017</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>1942-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>194,032</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>16,786</td></tr><tr><td>October</td><td>702,425</td><td>220,386</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>2,460</td><td>183,195</td><td>148,478</td><td>5,753</td><td>28,984</td></tr><tr><td>December</td><td>2,521,448</td><td>1,999,688</td><td>562,515</td><td>1,425,942</td><td>11,231</td><td>25,263</td><td>2,576</td><td>951</td><td>21,736</td></tr><tr><td>1943-January</td><td>797,227</td><td>296,097</td><td>73,410</td><td>217,368</td><td>5,319</td><td>122,626</td><td>91,229</td><td>30,896</td><td>501</td></tr><tr><td>February</td><td>1,058,902</td><td>433,759</td><td>185,299</td><td>244,689</td><td>3,771</td><td>294,338</td><td>184,307</td><td>81,761</td><td>28,270</td></tr><tr><td>March</td><td>5,273,421</td><td>4,868,220</td><td>1,974,909</td><td>2,572,526</td><td>20,785</td><td>26,276</td><td>919</td><td>2,819</td><td>22,538</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Capital stock tax</th><th>State 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>629,887</td><td>-</td><td>61,770</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>382,275</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>1942-March</td><td>354,823</td><td>352</td><td>105,317</td><td>84,657</td><td>61,601</td><td>2,796</td><td>63,652</td><td>36,448</td><td>-</td></tr><tr><td>April</td><td>293,526</td><td>291</td><td>43,090</td><td>81,427</td><td>62,866</td><td>3,159</td><td>70,008</td><td>32,685</td><td>-</td></tr><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>23,681</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>77,145</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><tr><td>December</td><td>496,497</td><td>143,020</td><td>30,223</td><td>128,973</td><td>81,359</td><td>3,458</td><td>63,832</td><td>45,632</td><td>-</td></tr><tr><td>1943-January</td><td>378,504</td><td>209</td><td>46,739</td><td>136,876</td><td>80,565</td><td>3,776</td><td>68,427</td><td>41,912</td><td>-</td></tr><tr><td>February</td><td>330,805</td><td>216</td><td>28,613</td><td>128,299</td><td>68,247</td><td>3,551</td><td>51,459</td><td>50,420</td><td>-</td></tr><tr><td>March</td><td>378,925</td><td>392</td><td>61,686</td><td>120,528</td><td>79,544</td><td>4,419</td><td>47,134</td><td>65,222</td><td>-</td></tr></table>
4/ Consists of the declared value excess profits tax, the profit limiting provisions of the Vineson Act, and the tax on unjust enrichment. 5/ For the period prior to September 1939 the data in the column entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act. 6/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
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/ Includes victory tax collections. 
3/ Excess profits tax imposed under the Second Revenue Act of 1940, as amended.
73
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to 1942
First 9 Months Fiscal Year 1943
* Includes miscellaneous profit taxes
74
Detailed Analysis of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th>March 1943</th><th colspan="2">First 9 months</th><th>Sources of revenue</th><th>March 1943</th><th colspan="2">First 9 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>1,950,547</td><td>2,248,487</td><td>3,506,017</td><td>Bonds, issues of capital stocks, deeds</td><td>1,905</td><td>17,478</td><td>14,954</td></tr><tr><td>Back</td><td>22,841</td><td>96,347</td><td>115,519</td><td>of conveyance, etc.</td><td></td><td></td><td></td></tr><tr><td>Corporation</td><td></td><td></td><td></td><td>Transfere of capital stock and similar</td><td>1,628</td><td>11,099</td><td>9,045</td></tr><tr><td>Current</td><td>1,025,922</td><td>1,869,486</td><td>3,005,152</td><td>interest sales</td><td>878</td><td>4,248</td><td>5,818</td></tr><tr><td>Back</td><td>55,675</td><td>202,616</td><td>252,330</td><td>Playing cards</td><td>8</td><td>29</td><td>104</td></tr><tr><td>Victory tax</td><td>1,521</td><td>-</td><td>1,825</td><td>Silver bullion sales or transfers</td><td></td><td></td><td></td></tr><tr><td>Excess profits taxes (Second Revenue Act of 1940 as amended)</td><td>1,790,929</td><td>922,527</td><td>3,557,355</td><td>Total stamp taxes</td><td>4,419</td><td>32,854</td><td>29,921</td></tr><tr><td>Miscellaneous profit taxes:</td><td></td><td></td><td></td><td>Manufacturere' and retailers' excise taxes:</td><td></td><td></td><td></td></tr><tr><td>Declared value</td><td>20,575</td><td>31,736</td><td>71,286</td><td>Lubricating oils</td><td>3,807</td><td>35,457</td><td>30,660</td></tr><tr><td>Vineon Act</td><td>20</td><td>666</td><td>212</td><td>Gasoline</td><td>19,040</td><td>289,835</td><td>228,309</td></tr><tr><td>Unjust enrichment</td><td>190</td><td>3,875</td><td>1,609</td><td>Tires and tubes</td><td>2,010</td><td>52,051</td><td>12,321</td></tr><tr><td>Total income and profit taxes</td><td>4,868,220</td><td>5,375,740</td><td>10,511,305</td><td>Floor taxes on tires and tubes</td><td>1</td><td>7,899</td><td>62</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Automobile trucks and buses</td><td>134</td><td>14,632</td><td>3,753</td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td>Other automobiles and motorcycles</td><td>-52</td><td>74,186</td><td>1,360</td></tr><tr><td>Federal Insurance Contributione Act (Old-age insurance)</td><td>919</td><td>650,449</td><td>821,801</td><td>Parts and accessories for automobiles</td><td>1,532</td><td>20,021</td><td>14,932</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance)</td><td>2,819</td><td>106,216</td><td>139,926</td><td>Electrical energy</td><td>4,137</td><td>37,555</td><td>36,794</td></tr><tr><td>Total Social Security taxes</td><td>3,738</td><td>756,665</td><td>961,727</td><td>Electric, gas, and oil appliances</td><td>251</td><td>11,017</td><td>6,053</td></tr><tr><td>Carriers' Taring Act of 1937</td><td>22,538</td><td>124,357</td><td>150,286</td><td>Electric light bulbs and tubes</td><td>150</td><td>1,724</td><td>2,625</td></tr><tr><td>Total employment taxes</td><td>26,276</td><td>881,022</td><td>1,112,013</td><td>Electric signs (repealed as of 11/1/42)</td><td>4</td><td>390</td><td>529</td></tr><tr><td>Miscellaneous internal revenues:</td><td></td><td></td><td></td><td>Radio sets, phonographs, components, etc.</td><td>240</td><td>13,468</td><td>4,686</td></tr><tr><td>Capital stock tax</td><td>392</td><td>280,862</td><td>330,598</td><td>Photograph records</td><td>135</td><td>521</td><td>1,272</td></tr><tr><td>Estate tax</td><td>40,192</td><td>251,813</td><td>304,010</td><td>Musical instruments</td><td>75</td><td>1,414</td><td>1,106</td></tr><tr><td>Gift tax</td><td>21,494</td><td>87,228</td><td>28,534</td><td>Mechanical refrigerators, air-conditioners etc.</td><td>159</td><td>13,131</td><td>4,595</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Matches</td><td>1,229</td><td>2,930</td><td>6,969</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>9,549</td><td>27,729</td><td>55,930</td><td>Floor taxes on matches</td><td>-30</td><td>1,685</td><td>5</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>62,596</td><td>417,462</td><td>548,342</td><td>Business and store machines</td><td>230</td><td>3,440</td><td>5,746</td></tr><tr><td>Distilled spirits rectification tax</td><td>1,293</td><td>13,517</td><td>14,780</td><td>Pure - retailers' excise</td><td>4,773</td><td>14,808</td><td>35,006</td></tr><tr><td>Winee, cordiale, etc. (imported, excise)</td><td>85</td><td>271</td><td>490</td><td>Jewelry - retailers' excise</td><td>5,488</td><td>27,365</td><td>68,848</td></tr><tr><td>Winee, cordiaie, etc. (domestic, excise)</td><td>2,546</td><td>17,979</td><td>26,202</td><td>Luggage</td><td>419</td><td>1,580</td><td>4,031</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>*</td><td>1,248</td><td>6</td><td>Optical equipment (repealed as of 11/1/42)</td><td>*</td><td>247</td><td>286</td></tr><tr><td>Dealers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>60</td><td>5,546</td><td>5,505</td><td>Photographic apparatus</td><td>918</td><td>3,487</td><td>8,066</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>*</td><td>1</td><td>1</td><td>Rubber articles (repealed as of 11/1/42)</td><td>11</td><td>12,146</td><td>13,700</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>107</td><td>894</td><td>1,098</td><td>Sporting goods</td><td>170</td><td>1,879</td><td>3,412</td></tr><tr><td>Container stamps</td><td>764</td><td>8,779</td><td>8,534</td><td>Toilet preparations - retailers' articles</td><td>2,184</td><td>12,630</td><td>25,022</td></tr><tr><td>Floor taxes</td><td>4,377</td><td>36,509</td><td>100,341</td><td>Washing machines (repealed as of 11/1/42)</td><td>*</td><td>102</td><td>35</td></tr><tr><td>Fermented malt liquors</td><td>39,107</td><td>263,944</td><td>322,320</td><td>Firearms, shells and cartridges</td><td>9</td><td>3,519</td><td>1,066</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>38</td><td>2,781</td><td>2,669</td><td>Pistols and revolvers</td><td>2</td><td>63</td><td>49</td></tr><tr><td>Total alcoholic beverage taxes</td><td>120,528</td><td>796,660</td><td>1,086,218</td><td>Repealed taxes not listed above</td><td>31</td><td>3,426</td><td>460</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Total manufacturers' and retailers' excise taxes</td><td>47,134</td><td>662,668</td><td>521,718</td></tr><tr><td>Cigars (large)</td><td>2,361</td><td>10,652</td><td>16,376</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td></tr><tr><td>Cigars (small)</td><td>8</td><td>81</td><td>71</td><td>Bituminous Coal Act of 1937</td><td>440</td><td>4,072</td><td>4,099</td></tr><tr><td>Cigarettes (large)</td><td>3</td><td>12</td><td>20</td><td>Sugar Act of 1937</td><td>3,479</td><td>54,347</td><td>40,140</td></tr><tr><td>Cigarettes (small)</td><td>72,141</td><td>523,455</td><td>627,627</td><td>Telephone, telegraph, radio and cable</td><td></td><td></td><td></td></tr><tr><td>Stuff</td><td>813</td><td>5,553</td><td>5,714</td><td>Leased wires, etc.</td><td>11,719</td><td>31,753</td><td>60,404</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>4,021</td><td>39,479</td><td>36,664</td><td>Local telephone service</td><td>8,396</td><td>13,886</td><td>47,075</td></tr><tr><td>Cigarette papers and tubes</td><td>160</td><td>1,440</td><td>1,050</td><td>Transportation of oil by pipe line</td><td>1,170</td><td>10,316</td><td>10,423</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>-</td><td>4</td><td>3</td><td>Transportation of persons, seats, berths</td><td>10,206</td><td>11,316</td><td>56,658</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>37</td><td>5</td><td>8,488</td><td>Transportation of property (effective 12/1/42)</td><td>16,529</td><td>61,332</td><td>30,845</td></tr><tr><td>Total tobacco taxes</td><td>79,544</td><td>580,681</td><td>696,013</td><td>Use of motor vehicles (effective 2/1/42)</td><td>81</td><td>54</td><td>138,012</td></tr><tr><td></td><td></td><td></td><td></td><td>Use of boats (effective 2/1/42)</td><td>1</td><td>2,501</td><td>309</td></tr><tr><td></td><td></td><td></td><td></td><td>Leases of safe-deposit boxes</td><td>415</td><td>80,890</td><td>4,597</td></tr><tr><td></td><td></td><td></td><td></td><td>Admissions to theaters, concerts, cabarets, etc.</td><td>11,875</td><td>4,836</td><td>115,432</td></tr><tr><td></td><td></td><td></td><td></td><td>Club dues and initiation fees</td><td>448</td><td>1,356</td><td>4,758</td></tr><tr><td></td><td></td><td></td><td></td><td>Bowling alleys, pool tables, etc.</td><td>10</td><td>5,401</td><td>1,606</td></tr><tr><td></td><td></td><td></td><td></td><td>Coin operated devices</td><td>92</td><td>-</td><td>9,024</td></tr><tr><td></td><td></td><td></td><td></td><td>Admitted and processed or renovated butter, mixed flour 3/ and filled cheese</td><td>33</td><td>26</td><td>57</td></tr><tr><td></td><td></td><td></td><td></td><td>Oleomargarine, including special taxes</td><td>198</td><td>1,772</td><td>2,117</td></tr><tr><td></td><td></td><td></td><td></td><td>Narcotics, including marijuana and special taxes</td><td>53</td><td>417</td><td>551</td></tr><tr><td></td><td></td><td></td><td></td><td>Coconut and other vegetable oils processed</td><td>72</td><td>5,898</td><td>1,524</td></tr><tr><td></td><td></td><td></td><td></td><td>National Firearms Act</td><td>*</td><td>11</td><td>16</td></tr><tr><td></td><td></td><td></td><td></td><td>All other, including repealed taxes</td><td>5</td><td>36</td><td>46</td></tr><tr><td></td><td></td><td></td><td></td><td>not listed above</td><td></td><td></td><td></td></tr><tr><td>Total miscellaneous taxes</td><td>65,222</td><td>230,220</td><td>527,545</td><td>Total miscellaneous taxes</td><td>65,222</td><td>230,220</td><td>527,545</td></tr><tr><td>Total internal revenue</td><td>378,925</td><td>2,982,986</td><td>3,524,657</td><td>Total internal revenue</td><td>378,925</td><td>2,982,986</td><td>3,524,657</td></tr></table>
Source: Reports of collections. * Less than $500. 1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc.
2/ Correction of prior month's collections.
3/ Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed fl, repealed as of November 1, 1942.
GOLD AND SILVER STATISTICS
-75-
76
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Gold Assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold Certificates 1/</th><th>Gold Reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilisation Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1934</td><td>8,238.6</td><td>5,274.0</td><td>156.0</td><td>1,800.0</td><td>1,008.6</td></tr><tr><td>1935</td><td>10,122.9</td><td>7,679.5</td><td>156.0</td><td>1,800.0</td><td>487.4</td></tr><tr><td>1936</td><td>11,257.6</td><td>8,959.6</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,572.5</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>405.9</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>1942</td><td>22,726.3</td><td>20,611.9</td><td>156.0</td><td>1,800.0</td><td>158.4</td></tr><tr><td>1942-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>22,690.8</td><td>20,569.8</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>22,736.7</td><td>20,625.5</td><td>156.0</td><td>1,800.0</td><td>155.2</td></tr><tr><td>July</td><td>22,744.3</td><td>20,605.6</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>22,754.4</td><td>20,634.8</td><td>156.0</td><td>1,800.0</td><td>163.6</td></tr><tr><td>October</td><td>22,740.1</td><td>20,628.2</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>20,631.2</td><td>156.0</td><td>1,800.0</td><td>156.2</td></tr><tr><td>December</td><td>22,726.3</td><td>20,611.9</td><td>156.0</td><td>1,800.0</td><td>158.4</td></tr><tr><td>1943-January</td><td>22,683.0</td><td>20,578.5</td><td>156.0</td><td>1,800.0</td><td>148.5</td></tr><tr><td>February</td><td>22,643.8</td><td>20,533.7</td><td>156.0</td><td>1,800.0</td><td>154.3</td></tr><tr><td>March p.</td><td>22,575.7</td><td>20,471.1</td><td>156.0</td><td>1,800.0</td><td>148.6</td></tr></table>
Source: Daily Treasury Statements. p Preliminary. 1/ Compricee (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. Reserve against United States notes and Treasury notes of 1890. Excludes gold in active portion of Exchange Stabilization 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>19,963.1</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>4,306.3</td><td>15.9</td></tr><tr><td>1942-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>4,306.3</td><td>15.9</td></tr><tr><td>July</td><td>22,744.3</td><td>4,313.5</td><td>15.9</td></tr><tr><td>August</td><td>22,755.7</td><td>4,317.2</td><td>15.9</td></tr><tr><td>September</td><td>22,754.4</td><td>4,320.2</td><td>15.9</td></tr><tr><td>October</td><td>22,740.1</td><td>4,319.7</td><td>15.9</td></tr><tr><td>November</td><td>22,743.4</td><td>4,319.6</td><td>15.9</td></tr><tr><td>December</td><td>22,726.3</td><td>4,317.6</td><td>15.9</td></tr><tr><td>1943-January</td><td>22,683.0</td><td>4,314.6</td><td>16.0</td></tr><tr><td>February</td><td>22,643.8</td><td>4,312.0</td><td>16.0</td></tr><tr><td>March p</td><td>22,575.7</td><td>4,298.4</td><td>16.0</td></tr></table>
Source: Daily Treasury Statement-and Circulation Statement of United States Money p. Preliminary.
Increment Resulting from the Reduction in the Weight of the Gold Dollar, March 31, 1943
<table><tr><th></th><th>Allocations of increment</th><th>Charges against increment</th><th>Unexpended balance of allocated increment</th></tr><tr><td>Exchange Stabilization Fund</td><td>$2,000,000,000.00</td><td>$2,000,000,000.00</td><td>-</td></tr><tr><td>Payments to Federal Reserve Banks for industrial loans</td><td>139,299,556.99</td><td>27,546,310.97</td><td>$111,753,246.02</td></tr><tr><td>Philippine currency reserves</td><td>23,862,750.78</td><td>-</td><td>23,862,750.78</td></tr><tr><td>Melting losses on gold coin</td><td>2,175,121.93</td><td>1,846,976.25</td><td>328,145.68</td></tr><tr><td>Retirement of National Bank notes</td><td>645,387,965.45</td><td>645,387,965.45</td><td>-</td></tr><tr><td>Unassigned</td><td>7,715,954.46</td><td>-</td><td>7,715,954.46</td></tr><tr><td>Total increment</td><td>$2,818,441,349.61</td><td>$2,674,781,252.67</td><td>$143,660,096.94</td></tr></table>
77
Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th rowspan="2">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 rowspan="2">Total silver at $1.29 per ounce</th></tr><tr><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></tr><tr><td>1934</td><td>211.6</td><td>508.4</td><td>4.2</td><td>8.8</td><td>83.3</td><td>35.2</td><td>305.3</td><td>1,279.7</td></tr><tr><td>1935</td><td>576.9</td><td>508.7</td><td>4.2</td><td>.2</td><td>262.7</td><td>38.4</td><td>323.5</td><td>1,970.1</td></tr><tr><td>1936</td><td>775.9</td><td>505.7</td><td>5.7</td><td>.3</td><td>347.7</td><td>41.3</td><td>350.4</td><td>2,402.3</td></tr><tr><td>1937</td><td>938.8</td><td>503.7</td><td>5.4</td><td></td><td>428.6</td><td>43.3</td><td>366.9</td><td>2,806.5</td></tr><tr><td>1938</td><td>1,137.6</td><td>502.7</td><td>3.5</td><td>.2</td><td>535.3</td><td>44.4</td><td>372.8</td><td>3,346.8</td></tr><tr><td>1939</td><td>1,298.2</td><td>499.0</td><td>5.3</td><td></td><td>616.0</td><td>48.1</td><td>394.1</td><td>3,790.2</td></tr><tr><td>1940</td><td>1,398.1</td><td>494.5</td><td>2.3</td><td></td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td></td><td>682.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1942</td><td>1,515.2</td><td>468.3</td><td>9.2</td><td></td><td>628.2</td><td>78.8</td><td>587.3</td><td>1,317.6</td></tr><tr><td>1942-March</td><td>1,491.1</td><td>482.7</td><td>11.9</td><td></td><td>664.2</td><td>64.4</td><td>496.9</td><td>4,277.8</td></tr><tr><td>April</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></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></td><td>660.3</td><td>68.3</td><td>516.8</td><td>4,306.3</td></tr><tr><td>July</td><td>1,509.5</td><td>477.0</td><td>15.1</td><td></td><td>657.2</td><td>70.1</td><td>524.3</td><td>4,313.5</td></tr><tr><td>August</td><td>1,511.7</td><td>475.5</td><td>19.5</td><td></td><td>652.1</td><td>71.6</td><td>531.7</td><td>4,317.2</td></tr><tr><td>September</td><td>1,513.6</td><td>473.3</td><td>14.2</td><td></td><td>647.2</td><td>73.7</td><td>548.1</td><td>4,320.2</td></tr><tr><td>October</td><td>1,515.0</td><td>471.8</td><td>13.5</td><td></td><td>640.0</td><td>75.3</td><td>561.8</td><td>4,319.7</td></tr><tr><td>November</td><td>1,512.8</td><td>470.0</td><td>10.5</td><td></td><td>634.3</td><td>77.1</td><td>575.7</td><td>4,319.6</td></tr><tr><td>December</td><td>1,516.2</td><td>468.3</td><td>9.2</td><td></td><td>628.2</td><td>78.8</td><td>587.3</td><td>4,317.6</td></tr><tr><td>1943-January</td><td>1,516.3</td><td>467.8</td><td>19.5</td><td></td><td>621.1</td><td>79.4</td><td>588.5</td><td>4,314.6</td></tr><tr><td>February</td><td>1,516.3</td><td>466.8</td><td>30.3</td><td></td><td>613.9</td><td>80.3</td><td>590.0</td><td>4,312.0</td></tr><tr><td>March p.</td><td>1,516.8</td><td>465.6</td><td>36.2</td><td></td><td>604.7</td><td>81.5</td><td>595.8</td><td>4,298.4</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Moneys. Preliminary. Less than $50,000.
1/ Valued at $1.29+ per ounce.
2/ Valued at $1.38+ per ounce.
Silver of Specified Classifications Acquired by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th colspan="2">Newly mined domestic 1/</th><th colspan="2">Nationalized 2/</th><th colspan="2">Foreign 3/</th><th colspan="2">Total</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th><th>Ouncee</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>1934</td><td>21.8</td><td>14.1</td><td>110.6</td><td>55.3</td><td>172.5</td><td>85.5</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>1942</td><td>47.9</td><td>34.0</td><td>-</td><td>-</td><td>14.3</td><td>6.0</td><td>62.1</td><td>40.0</td></tr><tr><td>1942-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><tr><td>December</td><td>.5</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.5</td><td>.4</td></tr><tr><td>1943-January</td><td>.1</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>.1</td></tr><tr><td>February</td><td>.1</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>.1</td></tr><tr><td>March</td><td>.6</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.6</td><td>.5</td></tr></table>
1/ Acquired at 64.64+ cents per fine ounce until April 9, 1935; at 71.11+ cents per fine ounce from that date until April 23, 1935; at 77.57+ cents from April 23, 1935 to December 31, 1937; at 64.64+ cents per fine ounce from December 31, 1937 to July 1, 1939; and at 71.11+ cents since July 1, 1939.
2/ Acquired at 50.01 cents per fine ounce. Executive Proclamation of August 9, 1934, repealed April 28, 1938.
3/ Acquired at various prices averaging approximately 51 cents per ounce.
78
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 colspan="5">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><th></th><th></th><th>Mine. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mined silver (Proc. Dec. 21, 1933)</th><th>Newly-mined silver (Act July 5, 1939)</th><th>Silver Purchase Act of June 13, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>-</td><td>51.1</td><td>28.5</td><td>128.7</td><td>132.6</td></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1942-March</td><td>195.3</td><td>48.7</td><td>87.6</td><td>53.3</td><td>582.9</td><td>34.7</td><td>807.2</td><td>1,097.8</td></tr><tr><td>April</td><td>198.0</td><td>48.7</td><td>87.6</td><td>55.3</td><td>583.8</td><td>34.7</td><td>810.1</td><td>1,096.5</td></tr><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><tr><td>December</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943-January</td><td>251.0</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,029.7</td></tr><tr><td>February</td><td>257.5</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.4 3/</td></tr><tr><td>March</td><td>264.9</td><td>48.7</td><td>87.6</td><td>63.9</td><td>584.3</td><td>34.7</td><td>819.2</td><td>1,038.9</td></tr></table>
Basic: 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 certificate.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential assignorage thereon changes. 
3/ Increase due principally to cumulative adjustment in computing average cost per ounce.
Silver Production, by Leading Countries
(In thousands of fine ounces)
<table><tr><th>Calendar year or month</th><th>Total for world</th><th colspan="5">American countries</th><th colspan="6">All other countries 1/</th></tr><tr><th></th><th></th><th>United States</th><th>Canada 2/</th><th>Mexico</th><th>Peru</th><th>Other</th><th>Total</th><th>Europe</th><th>Oceania</th><th>Japan 3/</th><th>British India 4/</th><th>Other Asia</th><th>Africa</th></tr><tr><td>1933</td><td>169,159</td><td>22,821</td><td>16,395</td><td>68,101</td><td>6,761</td><td>10,819</td><td>44,261</td><td>14,769</td><td>11,553</td><td>6,680</td><td>6,080</td><td>1,103</td><td>4,076</td></tr><tr><td>1934</td><td>190,398</td><td>32,487</td><td>17,565</td><td>74,145</td><td>10,381</td><td>10,091</td><td>45,730</td><td>14,891</td><td>11,257</td><td>7,863</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>267,755</td><td>61,689</td><td>23,826</td><td>81,019</td><td>20,424</td><td>15,869</td><td>64,939</td><td>22,747</td><td>15,043</td><td>13,115</td><td>5,947</td><td>2,451</td><td>5,636</td></tr><tr><td>1939</td><td>265,262</td><td>63,872</td><td>24,538</td><td>75,271</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</td><td>69,128</td><td>20,340</td><td>78,362</td><td>17,000</td><td>18,262</td><td>61,461</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942</td><td>5/</td><td>54,486</td><td>19,762</td><td>5/</td><td>15,950</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-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>5/</td><td>5,606</td><td>1,613</td><td>5/</td><td>1,200</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>5/</td><td>4,945</td><td>1,624</td><td>5/</td><td>1,300</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>5/</td><td>4,528</td><td>1,537</td><td>5/</td><td>1,500</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>5/</td><td>5,048</td><td>1,966</td><td>5/</td><td>1,400</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August</td><td>5/</td><td>4,412</td><td>1,505</td><td>5/</td><td>1,350</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September</td><td>5/</td><td>4,561</td><td>1,758</td><td>5/</td><td>1,450</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October</td><td>5/</td><td>3,819</td><td>1,870</td><td>5/</td><td>1,450</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November</td><td>5/</td><td>3,292</td><td>1,633</td><td>5/</td><td>1,200</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December</td><td>5/</td><td>3,673</td><td>1,634</td><td>5/</td><td>1,500</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1943-January</td><td>5/</td><td>3,542</td><td>1,606</td><td>5/</td><td>1,150</td><td>5/</td><td>5/</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February</td><td>5/</td><td>3,176</td><td>5/</td><td>5/</td><td>5/</td><td>5/</td><td>5/</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 releases. 1/ Breakdown by countries not available after 1939.
2/ Includes Newfoundland. 3/ Includes Chosen and Taiwan. 4/ Includes Burma. 5/ Not yet reported.
OTHER TREASURY STATISTICS
79
80
Balance Sheet of the Exchange Stabilization Fund As of June 30, 1942 and December 31, 1942
<table><tr><th></th><th>June 30, 1942</th><th>December 31, 1942</th></tr><tr><td>Assets</td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td></tr><tr><td>Treasurer of the United States, gold.................</td><td>$1,800,000,000.00</td><td>$1,800,000,000.00</td></tr><tr><td>Treasurer of the United States, checking account....</td><td>1,581,258.70</td><td>1,591,051.12</td></tr><tr><td>Federal Reserve Bank of New York, special account....</td><td>177,908,989.03</td><td>195,338,643.70</td></tr><tr><td>Disbursing officers' balance and advance accounts....</td><td>10,965.48</td><td>5,570.71</td></tr><tr><td>Total cash.....................................</td><td>$1,979,501,213.21</td><td>$1,996,935,265.53</td></tr><tr><td>Gold purchased from Union of Soviet Socialist Republics (agreement October 10, 1941 and January 3, 1942) 1/..</td><td>14,358,449.00</td><td>-</td></tr><tr><td>Special accounts of Secretary of the Treasury in Federal Reserve Bank of New York: Special account No. 1, gold (Schedule 1).........</td><td>7,936,045.47</td><td>12,313,103.21</td></tr><tr><td>Due from foreign banks (foreign exchange):</td><td></td><td></td></tr><tr><td>Swiss france....................</td><td>$ 232,629.79</td><td>$ 17.88</td></tr><tr><td>French france....................</td><td>17.83</td><td>505.06</td></tr><tr><td>Belgæs....................</td><td>505.06</td><td>2,980.05</td></tr><tr><td>Sterling....................</td><td>2,980.05</td><td>10,008,630.14 3/</td></tr><tr><td>Central Bank of China....................</td><td>19,121,925.34 2/</td><td></td></tr><tr><td>Total due from foreign banks....................</td><td>19,358,058.12</td><td>10,012,133.13</td></tr><tr><td>Investments in United States Government securities (Schedule 2)....................</td><td>10,448,723.13</td><td>10,448,723.13</td></tr><tr><td>Accrued interest receivable (Schedule 2).........</td><td>9,730.73</td><td>10,436.48</td></tr><tr><td>Other accounts (deferred charges)....................</td><td>984.77</td><td>181.57</td></tr><tr><td>Commodity sales contracts (deferred charges)........</td><td>2,636.00</td><td>2,636.00</td></tr><tr><td>Total assets....................</td><td>$2,031,615,840.43</td><td>$2,029,722,479.05</td></tr><tr><td>Liabilities and Capital</td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td></tr><tr><td>Employees' Pay-roll Allotment Account - United States savings bonds....................</td><td>$ 376.89</td><td>$ 604.39</td></tr><tr><td>Vouchers payable....................</td><td>218.91</td><td>756.70</td></tr><tr><td>Due to Union of Soviet Socialist Republics (agreement October 10, 1941 and January 3, 1942).........</td><td>2,471,716.74</td><td>-</td></tr><tr><td>Miscellaneous....................</td><td>1,500.00</td><td>2,171.50</td></tr><tr><td>Total accounts payable....................</td><td>$ 2,473,812.54</td><td>$ 3,532.59</td></tr><tr><td>Capital account....................</td><td>2,000,000,000.00</td><td>2,000,000,000.00</td></tr><tr><td>Earnings less administrative expenses (Schedules 3 and 4).........</td><td>29,142,027.89</td><td>29,718,946.46</td></tr><tr><td>Total liabilities and capital....................</td><td>$2,031,615,840.43</td><td>$2,029,722,479.05</td></tr></table>
Back Figures: Annual balance sheets for the years 1934 through 1940 may be found in "Annual Report of the Secretary of the Treasury for 1940". Quarterly balance sheets commencing December 31, 1938 may be found in previous issues of the "Treasury Bulletin".
1/ Consisted of 941,053.554 ounces on June 30, 1942.
2/ Consisted of secured deposits amounting to 65,032,054.79 yuan as of June 30, 1942. Gold held as collateral amounted to $19,379,015.65.
3/ Consisted of 200,172,602.74 yuan as of December 31, 1942.
Schedules for Balance Sheet of the Exchange Stabilization Fund
Schedule 1
Location of gold held by and for account of the Exchange Stabilization Fund
<table><tr><th>Location</th><th colspan="2">June 30, 1942</th><th colspan="2">December 31, 1942</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>Federal Reserve Bank of New York</td><td>3,939.543</td><td>$ 137,884.01</td><td>351,323.119</td><td>$12,296,309.18</td></tr><tr><td>U. S. Assay Office, New York</td><td>222,804.612</td><td>7,798,161.46</td><td>479,826</td><td>16,754.03</td></tr><tr><td>Total</td><td>226,744.155</td><td>$7,936,045.47</td><td>351,802.945</td><td>$12,313,103.21</td></tr></table>
1/ Excludes gold held by Treasurer of the United States and gold purchased from Union of Soviet Socialist Republic.
81
Schedules for Balance Sheet of the Exchange Stabilization Fund - (Continued)
Schedule 2
United States Government securities held by the Exchange Stabilization Fund
<table><tr><th>Issue</th><th colspan="4">June 30, 1942</th><th colspan="4">December 31, 1942</th></tr><tr><th></th><th>Face value</th><th>Cost</th><th>Average price</th><th>Accrued interest</th><th>Face value</th><th>Cost</th><th>Average price</th><th>Accrued interest</th></tr><tr><td>2-1/4% Treasury bonds, 1951-53..</td><td>$10,000,000</td><td>$10,000,000.00</td><td>100.0000</td><td>$9,221.31</td><td>$10,000,000</td><td>$10,000,000.00</td><td>100.0000</td><td>$ 9,290.11</td></tr><tr><td>2-3/4% Treasury bonds, 1958-63..</td><td>50,000</td><td>49,640.63</td><td>99.2813</td><td>56.35</td><td>50,000</td><td>49,640.63</td><td>99.2813</td><td>60.14</td></tr><tr><td>2-3/4% Treasury bonds, 1960-65..</td><td>402,000</td><td>399,082.50</td><td>99.2743</td><td>453.07</td><td>402,000</td><td>399,082.50</td><td>99.2743</td><td>485.93</td></tr><tr><td>Total United States Government securities......</td><td>$10,452,000</td><td>$10,448,723.13</td><td></td><td>$9,730.73</td><td>$10,452,000</td><td>$10,448,723.13</td><td></td><td>$10,436.48</td></tr></table>
Schedule 3
Earnings of the Exchange Stabilization Fund
<table><tr><th>Source</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through December 31, 1942</th></tr><tr><td>Profits on British sterling transactions</td><td>$ 310,638.09</td><td>$ 310,638.09</td></tr><tr><td>Profits on French franc transactions</td><td>351,537.99</td><td>351,537.99</td></tr><tr><td>Profits on gold bullion (including profit from handling charges on gold)</td><td>19,948,590.50</td><td>20,455,698.19</td></tr><tr><td>Profits on silver transactions</td><td>105,371.27</td><td>105,371.27</td></tr><tr><td>Profit on sale of silver bullion to Treasury (nationalized)</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profits on investments</td><td>1,019,326.18</td><td>1,019,326.18</td></tr><tr><td>Interest on investments</td><td>3,711,009.14</td><td>3,830,429.89</td></tr><tr><td>Miscellaneous profits</td><td>473.74</td><td>487.56</td></tr><tr><td>Interest earned on foreign balances</td><td>123,888.59</td><td>123,888.59</td></tr><tr><td>Interest earned on Chinese yuan</td><td>1,841,337.35</td><td>1,929,700.63</td></tr><tr><td>Total earnings</td><td>$30,885,535.11</td><td>$31,600,440.68</td></tr></table>
Schedule 4
Administrative expenses of the Exchange Stabilization Fund
<table><tr><th>Classification</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through December 31, 1942</th></tr><tr><td>Salaried</td><td>$1,151,157.10</td><td>$1,267,636.63</td></tr><tr><td>Travel</td><td>61,553.90</td><td>64,649.50</td></tr><tr><td>Subsistence</td><td>45,910.27</td><td>51,673.80</td></tr><tr><td>Telephone and telegraph</td><td>335,665.52</td><td>345,202.85</td></tr><tr><td>Stationery, etc.</td><td>17,765.20</td><td>18,443.52</td></tr><tr><td>All other</td><td>131,455.23</td><td>133,887.92</td></tr><tr><td><b>Total administrative expenses</b></td><td><b>$1,743,507.22</b></td><td><b>$1,881,494.22</b></td></tr></table>
82
Net Capital Movement to the United States, 1935 through January 1943
In thousands of dollars. Net capital outflow (-)
<table><tr><th>Period</th><th>Net capital movement</th><th colspan="4">Analysis of net capital movement</th></tr><tr><th></th><th></th><th>Movement in short-term banking funds</th><th>Movement in brokerage balances</th><th>Movement in transactions in domestic securities</th><th>Movement in transactions in foreign securities</th></tr><tr><td>Calendar year:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>1,412,486</td><td>964,629</td><td>6,039</td><td>316,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,195,922</td><td>397,342</td><td>6,811</td><td>600,693</td><td>191,076</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937)</td><td>801,915</td><td>255,594</td><td>34,687</td><td>244,626</td><td>267,008</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>415,256</td><td>331,268</td><td>34</td><td>57,196</td><td>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>32,990</td><td>-85,427</td><td>115,689</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>706,380</td><td>852,928</td><td>20,358</td><td>-245,062</td><td>78,156</td></tr><tr><td>1941 (Jan. 1, 1941-Dec. 31, 1941)</td><td>-496,923</td><td>-286,622</td><td>-49</td><td>-261,955</td><td>51,703</td></tr><tr><td>1942 (Jan. 1, 1942-Dec. 31, 1942)</td><td>604,321</td><td>561,573</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943 (Jan. 1, 1943-Jan. 31, 1943)</td><td>71,050</td><td>151,109</td><td>2,658</td><td>4,205</td><td>-86,922</td></tr><tr><td>Total (Jan. 2, 1935-Jan. 31, 1943)</td><td>5,906,042</td><td>4,360,204</td><td>107,041</td><td>677,535</td><td>761,262</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-January (Jan. 1-Jan. 28)</td><td>-66,927</td><td>-74,305</td><td>1,175</td><td>1,264</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>100,712</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>47,282</td><td>58,078</td><td>-2,593</td><td>1,303</td><td>-9,506</td></tr><tr><td>August</td><td>57,345</td><td>48,413</td><td>251</td><td>9,427</td><td>-746</td></tr><tr><td>September</td><td>55,018</td><td>46,121</td><td>3,574</td><td>3,401</td><td>1,922</td></tr><tr><td>October</td><td>39,788</td><td>23,382</td><td>-3,331</td><td>8,146</td><td>11,591</td></tr><tr><td>November</td><td>66,905</td><td>57,538</td><td>-90</td><td>6,725</td><td>2,732</td></tr><tr><td>December</td><td>73,376</td><td>57,339</td><td>327</td><td>12,338</td><td>3,372</td></tr><tr><td>1943-January</td><td>71,050</td><td>151,109</td><td>2,658</td><td>4,205</td><td>-86,922</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.
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FOR VICTORY BUY UNITED STATES WAR BONDS AND STAMPS
COPY No.2
Treas. U.S. Treasury Dept. HJ 10 Treasury Bulletin A2 1943 c.2
TREASURY DEPT LIBRARY ROOM 453
U.S. TREASURY LIBRARY
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