Treas. HJ 10 A2 c.2
COPY No. 2
TREASURY DEPAR
LIBRARY
ROOM 453
LIBRARY ROOM 5030
JUN 21 1972
TREASURY DEPARTMENT
Date - 14-16
2
Treasury
182 2.2
Treasury
BULLETIN
OF THE
U.S. TREASURY DEPARTMENT
JULY
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, July 1943
Cumulative Table of Contents
<table><tr><th></th><th colspan="10">Issue and page number</th></tr><tr><th></th><th colspan="5">1943</th><th colspan="6">1942</th></tr><tr><th></th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th></tr><tr><td><b>I. Special articles</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Financial operations of the United States Government during the fiscal year 1943.</td><td>2-5</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>Second War Loan, April 1943: Sales of Series E savings bonds by States. Sales of securities classified by type of investor. Comparison of features of securities offered.</td><td></td><td>2</td><td>2-6</td><td>2-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War activities budget expenditures, monthly July 1940 through April 1943</td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank deposits: Maps showing deposits by counties, as of December 31, 1942 and increases during 1942. Amounts by Federal Reserve Districts and by States, December 31, 1941 and 1942.</td><td></td><td></td><td>4-5</td><td></td><td>2-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First War Loan, December 1942, sales of securities classified by type of investor.</td><td></td><td></td><td>6</td><td></td><td></td><td>2</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></td><td></td><td>3-6</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></td><td></td><td>7-8</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></td><td></td><td>74-75</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></td><td></td><td>75</td><td></td><td></td><td></td><td></td><td>22-23</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></td><td></td><td></td><td>71-73</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></td><td></td><td></td><td></td><td></td></tr><tr><td><b>II. Summary of fiscal statistics</b></td><td>8</td><td>4</td><td>9</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></tr><tr><td>Budget receipts and expenditures.</td><td>9</td><td>5</td><td>10</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></tr><tr><td>Public debt and guaranteed obligations outstanding.</td><td>9</td><td>5</td><td>10</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></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><b>III. Receipts and expenditures and appropriations</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Appropriations and net contract authorizations for the war activities program as of month-end preceding month of publication.</td><td>11-12</td><td>7-8</td><td>12-13</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></tr><tr><td>Budget receipts and expenditures: Summary by major classifications.</td><td>13</td><td>9</td><td>14</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></tr><tr><td>Analysis of receipts from internal revenue.</td><td>13</td><td>9</td><td>14</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></tr><tr><td>Analysis of general expenditures.</td><td>14</td><td>10</td><td>15</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></tr><tr><td>Analysis of expenditures for war activities.</td><td>14</td><td>10</td><td>15</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></tr><tr><td>Analysis of expenditures for war activities, monthly July 1940 through April 1943.</td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>15</td><td>11</td><td>16</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></tr><tr><td>Total budget receipts and expenditures, by months, for recent years.</td><td>15-16</td><td>11-12</td><td>16-17</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></tr><tr><td>Receipts and expenditures for trust accounts, increment on gold, etc.</td><td>17</td><td>13</td><td>18</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></tr><tr><td>Means of financing cash requirements beginning 1933.</td><td>18</td><td>14</td><td>19</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></tr><tr><td><b>Social Security program:</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></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>19</td><td>15</td><td>20</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></tr><tr><td>Railroad Retirement Act.</td><td>20</td><td>16</td><td>21</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></tr><tr><td>Railroad Unemployment Insurance Act.</td><td>20</td><td>16</td><td>21</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></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>21</td><td>17</td><td>22</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></tr><tr><td>Railroad Retirement Account.</td><td>21</td><td>17</td><td>22</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></tr><tr><td>Unemployment Trust Fund.</td><td>21</td><td>17</td><td>22</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></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>22</td><td>18</td><td>23</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></tr><tr><td>Total cash income and outgo, by months beginning with:</td><td></td><td></td><td></td><td></td><td></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></td></tr><tr><td>January 1936.</td><td>22-23</td><td>18-19</td><td>23-24</td><td>21-22</td><td>19-20</td><td>16-17</td><td></td><td></td><td></td><td></td><td></td><td></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><b>IV. General Fund of the Treasury</b></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>25</td><td>21</td><td>26</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></tr><tr><td>Analysis of changes in balance of General Fund.</td><td>26</td><td>22</td><td>27</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></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, July 1943
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="7">1943</th><th colspan="6">1942</th></tr><tr><th></th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th></tr><tr><td colspan="13">V. Public debt outstanding</td></tr><tr><td>Public debt and guaranteed obligations outstanding, classified by type of issues.</td><td>28</td><td>24</td><td>29</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></tr><tr><td>Composition of the public debt.</td><td>29</td><td>25</td><td>30</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></tr><tr><td>Receipts and expenditures on account of public debt.</td><td>29</td><td>25</td><td>30</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></tr><tr><td>Composition of the public debt and guaranteed obligations.</td><td>30</td><td>26</td><td>31</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></tr><tr><td>Debt position of the United States under limitations imposed by Section 21 of the Second Liberty Bond Act, as amended:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>25</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>33</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>30</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>31</td><td></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, 1943.</td><td>32</td><td>27</td><td>32</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></tr><tr><td>Computed rate of interest on the public debt and guaranteed obligations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>33-34</td><td>28-29</td><td>33-34</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></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></td></tr><tr><td>January 1, 1939.</td><td>35</td><td>30</td><td>35</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></tr><tr><td>January 1, 1940.</td><td></td><td></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></td></tr><tr><td>July 1, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>29</td><td></td></tr><tr><td>August 1, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>31</td><td></td></tr><tr><td>September 1, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>30</td><td></td><td></td><td></td></tr><tr><td>October 1, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>29</td><td>29</td><td></td><td></td><td></td></tr><tr><td>November 1, 1941.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>38</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 1, 1941.</td><td></td><td></td><td></td><td></td><td>29</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 1, 1942.</td><td></td><td></td><td></td><td></td><td></td><td>32</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>35</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>36</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 1, 1942.</td><td></td><td>31</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 1, 1942.</td><td>36</td><td></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 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>37-38</td><td>32-33</td><td>37-38</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></tr><tr><td>Sales reported by series, classified by denomination.</td><td>39</td><td>34</td><td>39</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></tr><tr><td>Sales reported by series, classified by type of purchaser.</td><td>40-41</td><td>35-36</td><td>40-41</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></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>42</td><td>37</td><td>42</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></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 of sales and redemptions.</td><td>43</td><td>38</td><td>43</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></tr><tr><td>Sales, classified by denomination.</td><td>43</td><td>38</td><td>43</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></tr><tr><td>Sales, classified by States.</td><td>44</td><td>39</td><td>44</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></tr><tr><td>Sales of tax series Treasury notes:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary, by series.</td><td>45</td><td>40</td><td>45</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></tr><tr><td>Sales reported by series, classified by denomination.</td><td>46</td><td>41</td><td>46</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></tr><tr><td>Sales reported by series, classified by type of purchaser.</td><td>47</td><td>42</td><td>47</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></tr><tr><td>Redemptions by series, classified by means of payment.</td><td>48</td><td>43</td><td>48</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></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>50</td><td>45</td><td>50</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></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937.</td><td>50</td><td>45</td><td>50</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></tr><tr><td>Summary data from Treasury survey of the ownership of Government securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1942.</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><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>47-52</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>44-49</td><td>46-51</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></td><td></td><td></td><td></td><td>44-49</td><td>44-49</td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1942.</td><td></td><td></td><td></td><td></td><td>44-49</td><td>53-58</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></td><td></td><td></td><td>47-52</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></td><td>50-55</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>51-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1943.</td><td>46-51</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1943.</td><td>51-56</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, July 1943
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="9">Issue and page number</th></tr><tr><th></th><th colspan="5">1943</th><th colspan="5">1942</th></tr><tr><th></th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th></tr><tr><td colspan="13">VII. Prices and yields of Government securities (including securities issued by Federal agencies)</td></tr><tr><td>Over-the-counter closing quotations and price history for public marketable securities issued by the U. S. Government and by Federal agencies, as of:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>51-53</td><td>53-55</td><td>54-56</td><td>52-54</td></tr><tr><td>The 15th of the month of publication.</td><td>58-60</td><td>53-55</td><td>58-60</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></tr><tr><td>The month-end preceding month of publication.</td><td>61</td><td>56</td><td>61</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></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></td><td></td><td>61</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></tr><tr><td>Discussion of composition of high-grade corporate bond average.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Yields 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>57-58</td><td>62-63</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></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 colspan="13">VIII. Government corporations and credit agencies of the United States</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>61-62</td><td>59-60</td><td></td></tr><tr><td>June 30, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>60-61</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>58-59</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>58-59</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>67-68</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>58-59</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1942.</td><td></td><td></td><td></td><td></td><td>61-62</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>65-66</td><td>65-66</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></td><td></td><td>60-61</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 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>March 31, 1943.</td><td>67-68</td><td>62-63</td><td>67-68</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></tr><tr><td>April 30, 1943.</td><td>69-70</td><td>64-65</td><td>69-70</td><td>69-70</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></tr><tr><td>May 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>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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>From inception of organization.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">IX. Internal revenue statistics</td></tr><tr><td>Collection 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>67-68</td><td>72-73</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></tr><tr><td>Comparative details for current periods.</td><td>74</td><td>69</td><td>74</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></tr><tr><td colspan="13">X. Gold and silver statistics</td></tr><tr><td>Gold assets and liabilities of the Treasury.</td><td>76</td><td>71</td><td>76</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></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></td></tr><tr><td>June 30, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>69</td><td></td><td></td><td>70</td></tr><tr><td>September 30, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>78</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1942.</td><td></td><td></td><td>76</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>76</td><td></td><td></td><td></td><td>69</td><td></td><td></td><td>69</td><td></td><td></td><td>70</td><td></td></tr><tr><td>June 30, 1943.</td><td>76</td><td>71</td><td>76</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></tr><tr><td>Treasury gold receipts, for recent quarterly periods.</td><td>77</td><td>72</td><td>77</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></tr><tr><td>Monetary stocks of gold and silver.</td><td>77</td><td>72</td><td>77</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></tr><tr><td>Components of silver monetary stock.</td><td>78</td><td>73</td><td>78</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></tr><tr><td>Silver of specified classifications acquired by mints and assay offices.</td><td>78</td><td>73</td><td>78</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></tr><tr><td>Seigniorage on silver, by types.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Silver production, by countries.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="13">XI. Other Treasury statistics</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>76-77</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>82-83</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>80-81</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>80-81</td><td></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>82</td><td>75</td><td>80</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></tr><tr><td>Capital movement between the United States and foreign countries.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
Note: In tables in which it is indicated that the figures are rounded to a given unit, the details will not necessarily add to the total shown.
SPECIAL ARTICLES
-1-
2
Financial Operations of the United States Government During the Fiscal Year 1943
Total budgetary expenditures of the Government during the fiscal year ended June 30, 1943 were $78,179,000,000, or more than double the expenditures of $32,397,000,000 for the preceding year.
Budgetary expenditures for war activities amounted to $72,109,000,000, or approximately 92 percent of all expenditures for the year, and nearly three times as much as the expenditures of $26,011,000,000 for this purpose in 1942. War expenditures represented approximately 42 percent of the gross national product for the fiscal year 1943, as compared with approximately 20 percent of the gross national product expended in the fiscal year 1942.
Net revenue receipts for the fiscal year 1943 did not increase in proportion to the increase in expenditures, but substantial gains in revenue were realized. Net receipts for 1943 were $22,282,000,000 as compared with net receipts of $12,799,000,000 in 1942, an increase of approximately 74 percent.
The net deficit for the year was $55,897,000,000, as compared with the net deficit of $19,598,000,000 for 1942.
Table 1 shows receipts and expenditures for the fiscal years 1942 and 1943 and the increases or decreases in 1943.
Receipts
Receipts for the fiscal year 1943, amounting to $23,385,000,000, were the largest in the Government's history, exceeding those for 1942 by $9,717,000,000, of which the increase in income taxes accounted for $5,133,000,000. In addition miscellaneous internal revenue increased $706,000,000; Social Security taxes increased $273,000,000; taxes upon carriers and their employees increased $39,000,000; while customs receipts, reflecting a decrease in dutiable imports occasioned by the war, declined $65,000,000. Miscellaneous receipts increased $629,000,000, of which more than $450,000,000 represents the cash returned to the Treasury as a result of renegotiations of war contracts by the War and Navy Departments and the United States Maritime Commission.
Total receipts for the fiscal year just ended were $1,167,000,000 less than the Budget estimate of January 6, 1943. Because of the consideration of the pay-as-you-go tax legislation, a very much smaller than normal proportion of the income tax liabilities due in respect of calendar year 1942 income was paid in full in March of 1943. This does not necessarily represent a loss in revenue but has resulted principally in a deferral in collections which will be subsequently received.
Expeditures
The total Budgetary expenditures (excluding debt retirement) for the fiscal year 1943 amounted to $78,179,000,000, an increase of $45,782,000,000 compared with the previous fiscal year. Budgetary expenditures were $2,253,000,000 less than the amount estimated for the year in the Budget Message of January 6, 1943, of which $1,891,000,000 was on account of war activities.
Expenditures for war activities increased by $46,098,000,000 in the year just ended, compared with the
fiscal year 1942. Of this increase, expenditures by the War Department accounted for $28,215,000,000; Navy Department expenditures increased $12,309,000,000; expenditures of the United States Maritime Commission and War Shipping Administration reflected an increase of $2,819,000,000; expenditures by the Treasury and Agriculture Departments for war purposes, principally purchases for Lend-Lease export, increased $1,996,000,000; while all other categories of war activities expenditures reflected a net increase of $760,000,000.
General expenditures, which include most of the ordinary operations of the Government, showed a net decrease of $391,000,000 in the fiscal year 1943 compared with 1942, although interest on the public debt increased by $548,000,000. A comparison of general expenditures reflects a net decrease of $851,000,000, after excluding interest on the public debt and making allowance for change in classification of National Youth Administration expenditures to war activities. The principal decreases in expenditures were Work Projects Administration, $583,000,000; Civilian Conservation Corps, $145,000,000; various activities under the Federal Works Agency, $93,000,000; Interior Department, reclamation projects, $23,000,000; Tennessee Valley
Authority, $16,000,000; refunds of taxes and duties, $15,000,000; and Panama Canal, $7,000,000. There were very few categories of general expenditures in which there were increases during the fiscal year 1943. The increases in expenditures were Departmental, $47,000,- 000; Veterans' Administration, $17,000,000; and river and harbor work and flood control, $11,000,000.
Net expenditures under Revolving Funds increased $21,000,000 during the fiscal year 1943, Farm Credit Administration activities accounting for an increase of $34,000,000 and Public Works Administration reflecting a decrease of $13,000,000.
Transfers to trust accounts, etc., increased $54,-000,000 during the year just ended compared with the previous fiscal year, principally because of the increased amount transferred to the Railroad Retirement Account of $74,000,000 and the transfer to the National Service Life Insurance Fund which showed an increase of $29,000,000. An offsetting reduction of $56,000,000 was effected under the food stamp program of the Agricultural Marketing Administration because of the termination of that program during the year.
There is shown below a comparison of the expenditures of the Government during the fiscal years 1942 and 1943, other than those classified as "war activities":
<table><tr><th></th><th colspan="2">Fiscal year</th><th rowspan="2">Increase (+) or decrease (-)</th></tr><tr><th></th><th>1942</th><th>1943</th></tr><tr><td colspan="4">(In millions of dollars)</td></tr><tr><td>General expenditures:</td><td></td><td></td><td></td></tr><tr><td>Interest on the public debt</td><td>1,260</td><td>1,808</td><td>+548</td></tr><tr><td>Other</td><td>4,726</td><td>3,787</td><td>-939</td></tr><tr><td>Revolving funds</td><td>18</td><td>40</td><td>+21</td></tr><tr><td>Transfers to trust accounts, etc.</td><td>381</td><td>435</td><td>+54</td></tr><tr><td>Total</td><td>6,386</td><td>6,070</td><td>-315</td></tr></table>
Note: For further details see pages 14 and 15.
In addition to direct Budgetary expenditures, during the fiscal year 1943, net payments for account of
1/ Based upon Treasury Department press release of July 2, 1943. Figures have been revised in accordance with the policy followed in the "Treasury Bulletin" of making all calculations from unrounded figures.
3
Government agencies, etc., amounted to $2,194,000,000, including $658,000,000 representing net redemptions of obligations of Government corporations. The principal disbursements in this category were those of the Reconstruction Finance Corporation, which agency's net expenditures, other than those for redemption of its obligations, amounted to $2,497,000,000, practically all of which was expended for war activities. The operations of the Commodity Credit Corporation and the Home Owners' Loan Corporation resulted in net collections for the year of $193,000,000, and $363,000,000, respectively.
War activities expenditures were running at an annual rate of $16,000,000,000, at the close of the fiscal year 1942 and had increased to an annual rate of nearly $90,000,000,000 at the close of the fiscal year 1943.
The monthly trend of defense and war expenditures during the fiscal years 1941, 1942 and 1943 is shown in the following table:
<table><tr><th>Month</th><th colspan="3">Fiscal year</th></tr><tr><th></th><th>1941</th><th>1942</th><th>1943</th></tr><tr><td colspan="4">(In millions of dollars)</td></tr><tr><td>July</td><td>199</td><td>969</td><td>4,498</td></tr><tr><td>August</td><td>223</td><td>1,131</td><td>4,884</td></tr><tr><td>September</td><td>241</td><td>1,330</td><td>5,384</td></tr><tr><td>October</td><td>311</td><td>1,537</td><td>5,481</td></tr><tr><td>November</td><td>393</td><td>1,448</td><td>6,042</td></tr><tr><td>December</td><td>495</td><td>1,850</td><td>5,825</td></tr><tr><td>January</td><td>589</td><td>2,104</td><td>5,947</td></tr><tr><td>February</td><td>610</td><td>2,208</td><td>5,770</td></tr><tr><td>March</td><td>769</td><td>2,809</td><td>6,744</td></tr><tr><td>April</td><td>782</td><td>3,238</td><td>6,974</td></tr><tr><td>May</td><td>857</td><td>3,560</td><td>7,092</td></tr><tr><td>June</td><td>832</td><td>3,829</td><td>7,469</td></tr><tr><td>Total</td><td>6,301</td><td>26,011</td><td>72,109</td></tr></table>
Note: For further details see page 14.
Financing net deficit and other requirements
Table 2 shows the sources which provided the funds to finance the net deficit of $55,897,000,000, the excess of expenditures of trust accounts and Government corporations, etc., of $1,861,000,000, and the increase in the general fund balance of $6,515,000,000, or a total of $64,274,000,000.
The Public Debt
The gross public debt on June 30, 1943, amounted to $136,696,000,000 as compared with $72,422,000,000 on June 30, 1942, an increase of $64,274,000,000. Of the increase in the public debt $6,515,000,000 represents an increase in the general fund balance which is available to meet expenditures in the next fiscal year.
The computed rate of interest on the total interest-bearing public debt declined to a new low point. The average rate was 1.979 percent on June 30, 1943, as compared with 2.285 percent on June 30, 1942.
Table 3 shows the public debt as of June 30, 1942 and June 30, 1943, classified by character of issues. The amount of outstanding public issues increased $61,- 288,000,000 during the year, and special issues increased $2,986,000,000.
Statutory Debt Limitation
Under the Public Debt Act of 1943, the limitation on the general borrowing power under the Second Liberty Bond Act, as amended, was increased from $125,000,000,000 to $210,000,000,000. As of June 30, 1943, the unused borrowing authorization under the limitation was
$69,531,000,000, as shown in the following statement:
<table><tr><td>Total face amount which may be outstanding at any one time</td><td>$210,000,000,000</td></tr><tr><td>Face amount outstanding as of June 30, 1943:</td><td></td></tr><tr><td>Interest-bearing securities</td><td>$140,123,337,382</td></tr><tr><td>Matured obligations on which interest has ceased</td><td>132,396,425</td></tr><tr><td>Debt bearing no interest (U. S. savings stamps)</td><td>213,349,935</td></tr><tr><td>Total face amount of securities outstanding</td><td>140,469,083,742</td></tr><tr><td>Total amount of authorization unused as of June 30, 1943</td><td>69,530,916,258</td></tr></table>
Note: For further details see page 31.
The Guaranteed Debt
The contingent liabilities of the Government on account of outstanding public issues of obligations of Government corporations and credit agencies, guaranteed as to principal and interest, decreased from $4,568,-000,000 on June 30, 1942, to $4,100,000,000 on June 30, 1943, a decrease of $468,000,000. During this period the securities of Government corporations and credit agencies, held directly by the Treasury increased from $4,079,000,000 to $7,535,000,000, an increase of $3,456,000,000. The policy announced in October, 1941, under which the funds needed by Government corporations are provided by the Treasury, in lieu of having such corporations sell their obligations in the market, was continued during the fiscal year 1943. A statement of guaranteed obligations as of June 30, 1942, and June 30, 1943, appears in Table 4.
Loans And Investments
The Government's interest in the net assets (excluding cash on deposit with the Treasurer of the United States) represented by loans, other investments and properties of Government corporations and credit agencies amounted to $12,797,000,000 as of May 31, 1943, as compared with $6,204,000,000 as of May 31, 1942, a net increase of $6,592,000,000. For further details see pages 65 and 66.
Treasury Financing Operations
During the fiscal year 1943 public issues of Treasury certificates of indebtedness (regular series), Treasury notes, Treasury bonds and United States savings bonds (including discount accrued during the year) aggregated $62,381,000,000 as compared with $22,886,000,000 during 1942, as follows:
<table><tr><th></th><th colspan="2">Fiscal year</th></tr><tr><th></th><th>1942</th><th>1943</th></tr><tr><td colspan="3">(In millions of dollars)</td></tr><tr><td>Certificates of indebtedness</td><td>3,096</td><td>18,067</td></tr><tr><td>Treasury notes</td><td>1,621</td><td>3,749</td></tr><tr><td>Treasury savings notes (tax series)</td><td>4,139</td><td>8,759</td></tr><tr><td>Treasury bonds</td><td>7,949</td><td>19,890</td></tr><tr><td>U. S. savings bonds</td><td>6,082</td><td>11,916</td></tr><tr><td>Total</td><td>22,886</td><td>62,381</td></tr></table>
Details of marketable issues of Treasury certificates of indebtedness, Treasury notes, and Treasury
4
bonds offered by the Treasury during the fiscal year 1943, including refunding operations, may be found on page 35.
The amount of Treasury bills outstanding increased from $2,508,000,000 on June 30, 1942 to $11,864,000,000 on June 30, 1943.
The Treasury redeemed for cash seven Treasury issues amounting to $4,819,000,000 and paid off or refunded four guaranteed issues of Government corporations amounting to $642,000,000, which matured or were called for redemption during the fiscal year 1943. For further details see page 35.
Savings Bonds
The program for the sale of United States savings bonds, which was greatly accelerated after the beginning of hostilities in December, 1941, has been continued and developed in line with the Treasury's emphasis on maximum sales of securities to individuals. On June 30, 1943 the current redemption value of United States savings bonds outstanding amounted to $21,256,000,000. Sales of savings bonds during the fiscal year
1943 totaled $11,789,000,000 and redemptions totaled $848,000,000. For detailed information on the sales of United States savings bonds by series, by denominations and by States, see pages 37-42. For additional information on redemptions by series see pages 37-38.
Savings Stamps
Under section 5 of the Public Debt Act of 1942, approved March 28, 1942, the Treasury assumed the liability of the Postal Savings System for $194,759,000 of postal savings stamps outstanding at the close of business September 30, 1942. The Postal Savings System thereupon discontinued the issuance of postal savings stamps and thereafter United States savings stamps were issued by the Treasury as a public debt obligation of the United States. Total sales of such stamps by the Treasury during the balance of the fiscal year 1943 amounted to $410,000,000, while redemptions of stamps amounted to $391,000,000, of which about 66 percent were in exchange for savings bonds. For additional information on sales of savings stamps by denominations and by States and on redemptions, see pages 43-44.
Table 1.- Receipts and Expenditures, Fiscal Years 1942 and 1943
(In millions of dollars)
<table><tr><th></th><th>1942</th><th>1943</th><th>Increase (+) Decrease (-)</th></tr><tr><td>Receipts:</td><td></td><td></td><td></td></tr><tr><td>Internal revenue:</td><td></td><td></td><td></td></tr><tr><td>Income tax</td><td>7,960</td><td>16,094</td><td>+8,133</td></tr><tr><td>Miscellaneous internal revenue</td><td>3,847</td><td>4,553</td><td>+706</td></tr><tr><td>Social security taxes</td><td>1,016</td><td>1,289</td><td>+273</td></tr><tr><td>Taxes upon carriers and their employees</td><td>170</td><td>209</td><td>+39</td></tr><tr><td>Railroad unemployment insurance contributions</td><td>8</td><td>10</td><td>+2</td></tr><tr><td>Customs</td><td>389</td><td>324</td><td>-65</td></tr><tr><td>Miscellaneous receipts</td><td>277</td><td>906</td><td>+629</td></tr><tr><td>Total receipts</td><td>13,668</td><td>23,385</td><td>+9,717</td></tr><tr><td>Deduct net appropriations to Federal old-age and survivors insurance trust fund</td><td>869</td><td>1,103</td><td>+234</td></tr><tr><td>Net raceipts</td><td>12,799</td><td>22,282</td><td>+9,483</td></tr><tr><td>Expenditures:</td><td></td><td></td><td></td></tr><tr><td>General:</td><td></td><td></td><td></td></tr><tr><td>Departmental (not otherwise classified)</td><td>685</td><td>732</td><td>+47</td></tr><tr><td>Agriculture Department:</td><td></td><td></td><td></td></tr><tr><td>Agricultural Conservation and Adjustment Administration</td><td>786</td><td>765</td><td>-21</td></tr><tr><td>Other</td><td>190</td><td>169</td><td>-21</td></tr><tr><td>Federal Security Agency:</td><td>163</td><td>18</td><td>-145</td></tr><tr><td>Civilian Conservation Corps</td><td>473</td><td>474</td><td>+1</td></tr><tr><td>Social Security Board</td><td>163</td><td>81</td><td>-82</td></tr><tr><td>Other</td><td></td><td></td><td></td></tr><tr><td>Federal Works Agency:</td><td>882</td><td>299</td><td>-583</td></tr><tr><td>Work Projects Administration</td><td>242</td><td>149</td><td>-93</td></tr><tr><td>Other</td><td></td><td></td><td></td></tr><tr><td>Interior Department:</td><td></td><td></td><td></td></tr><tr><td>Reclamation projects</td><td>91</td><td>69</td><td>-23</td></tr><tr><td>National Housing Agency</td><td>18</td><td>15</td><td>-3</td></tr><tr><td>Panama Canal</td><td>38</td><td>31</td><td>-7</td></tr><tr><td>Post Office Department (deficiency)</td><td>18</td><td>15</td><td>-4</td></tr><tr><td>Railroad Retirement Board</td><td>10</td><td>8</td><td>-2</td></tr><tr><td>River and harbor work and flood control</td><td>191</td><td>201</td><td>+11</td></tr><tr><td>Tennessee Valley Authority</td><td>127</td><td>111</td><td>-16</td></tr><tr><td>Treasury Department:</td><td></td><td></td><td></td></tr><tr><td>Interest on the public debt</td><td>1,260</td><td>1,808</td><td>+548</td></tr><tr><td>Refunds of taxes and duties</td><td>94</td><td>79</td><td>-15</td></tr><tr><td>Veterans' Administration</td><td>555</td><td>572</td><td>+17</td></tr><tr><td>Total general expenditures</td><td>5,986</td><td>5,595</td><td>-391</td></tr></table>
Note: Information by months and prior fiscal years may be found on pages 14 and 15.
<table><tr><th></th><th>1942</th><th>1943</th><th>Increase (+) Decrease (-)</th></tr><tr><td>Expenditures (continued):</td><td></td><td></td><td></td></tr><tr><td>War activities:</td><td></td><td></td><td></td></tr><tr><td>War Department</td><td>14,103</td><td>42,317</td><td>+28,215</td></tr><tr><td>Navy Department</td><td>8,580</td><td>20,888</td><td>+12,309</td></tr><tr><td>Agriculture Department</td><td>696</td><td>2,011</td><td>+1,315</td></tr><tr><td>Federal Security Agency</td><td>111</td><td>153</td><td>+43</td></tr><tr><td>Federal Works Agency</td><td>62</td><td>215</td><td>+153</td></tr><tr><td>National Housing Agency</td><td>297</td><td>608</td><td>+311</td></tr><tr><td>Treasury Department</td><td>519</td><td>1,201</td><td>+681</td></tr><tr><td>United States Maritime Commission</td><td>929</td><td>2,776</td><td>+1,846</td></tr><tr><td>War Shipping Administration</td><td>132</td><td>1,105</td><td>+973</td></tr><tr><td>Aid to China</td><td>200</td><td>104</td><td>-160</td></tr><tr><td>Other</td><td>382</td><td>795</td><td>+413</td></tr><tr><td>Total war activities expenditures</td><td>26,011</td><td>72,109</td><td>+46,098</td></tr><tr><td>Revolving funds (net):</td><td></td><td></td><td></td></tr><tr><td>Farm Credit Administration</td><td>7</td><td>41</td><td>+34</td></tr><tr><td>Public Works Administration</td><td>11</td><td>11</td><td>-13</td></tr><tr><td>Total revolving funds (net)</td><td>18</td><td>40</td><td>+21</td></tr><tr><td>Transfers to trust accounts, etc.:</td><td></td><td></td><td></td></tr><tr><td>Agricultural Marketing Administration (surplus commodity stamps)</td><td>126</td><td>71</td><td>-56</td></tr><tr><td>Federal contribution to District of Columbia (United States share)</td><td>6</td><td>6</td><td>-</td></tr><tr><td>Government employees' retirement funds (United States share)</td><td>103</td><td>107</td><td>+4</td></tr><tr><td>National service life insurance fund</td><td>1</td><td>30</td><td>+29</td></tr><tr><td>Railroad retirement account</td><td>141</td><td>215</td><td>+74</td></tr><tr><td>Railroad unemployment insurance administration fund transfers to unemployment trust fund (act Oct. 10, 1940)</td><td>4</td><td>6</td><td>+2</td></tr><tr><td>Total transfers to trust accounts, etc.</td><td>381</td><td>435</td><td>+54</td></tr><tr><td>Total expenditures (excluding public debt retirements)</td><td>32,397</td><td>78,179</td><td>+45,782</td></tr><tr><td>Net budget deficit</td><td>19,598</td><td>55,897</td><td>+36,300</td></tr></table>
Source: Daily Treasury Statements. 1/ Excess of credits, deduct.
5
Table 2.- Means of Financing Cash Requirements During the Fiscal Year 1943
(In millions of dollars)
<table><tr><td>Cash requirements:</td><td></td><td>55,897</td></tr><tr><td>Net deficit, excluding debt retirements.</td><td></td><td></td></tr><tr><td>Excess of receipts (-) or expenditures (+) in:</td><td></td><td></td></tr><tr><td>Checking accounts of Government agencies:</td><td></td><td></td></tr><tr><td>General.</td><td>+1,535</td><td></td></tr><tr><td>Sales and redemptions of obligations in the market (net).</td><td>+658</td><td></td></tr><tr><td>Trust and other accounts.</td><td>-333</td><td></td></tr><tr><td>Increases in general fund balance.</td><td>+6,515</td><td>8,376</td></tr><tr><td>Total requirements.</td><td></td><td>64,274</td></tr><tr><td>Means of financing:</td><td></td><td></td></tr><tr><td>Public debt receipts (net) from: 1/</td><td></td><td></td></tr><tr><td>Public issues.</td><td></td><td>61,258</td></tr><tr><td>Special issues.</td><td></td><td>2,986</td></tr><tr><td>Total.</td><td></td><td>64,274</td></tr></table>
Source: Daily Treasury Statements. 1/ Conalet of public debt receipts from matured and unmatured obligations.
Table 3.- Statement of the Public Debt Outstanding June 30, 1942 and 1943
(In millions of dollars)
<table><tr><th></th><th>June 30, 1942</th><th>June 30, 1943</th><th>Change</th></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>2,508</td><td>11,864</td><td>+9,356</td></tr><tr><td>Certificates of indebtedness</td><td>3,096</td><td>16,561</td><td>+13,466</td></tr><tr><td>Treasury notes</td><td>6,689</td><td>9,168</td><td>+2,479</td></tr><tr><td>Treasury bonds</td><td>38,085</td><td>57,520</td><td>+19,436</td></tr><tr><td>Other bonds</td><td>196</td><td>196</td><td></td></tr><tr><td>Total marketable issues</td><td>50,573</td><td>95,310</td><td>+44,736</td></tr><tr><td>Non-marketable issues</td><td></td><td></td><td></td></tr><tr><td>U.S. savings bonds</td><td>10,188</td><td>21,256</td><td>+11,068</td></tr><tr><td>Treasury notes - tax series</td><td>3,015</td><td>1,031</td><td>-1,983</td></tr><tr><td>Treasury notes - savings series</td><td>-</td><td>6,464</td><td>+6,464</td></tr><tr><td>Adjusted service bonds</td><td>229</td><td>222</td><td>-7</td></tr><tr><td>Depository bonds</td><td>79</td><td>226</td><td>+147</td></tr><tr><td>Total non-marketable issues</td><td>13,510</td><td>29,200</td><td>+15,690</td></tr><tr><td>Total public issues</td><td>64,083</td><td>124,509</td><td>+60,426</td></tr><tr><td>Special issues</td><td>7,885</td><td>10,871</td><td>+2,986</td></tr><tr><td>Total interest-bearing debt</td><td>71,968</td><td>135,380</td><td>+63,412</td></tr><tr><td> matured debt on which interest has ceased</td><td>98</td><td>141</td><td>+42</td></tr><tr><td>Debt bearing no interest</td><td>356</td><td>1,175</td><td>+820</td></tr><tr><td>Total public debt outstanding</td><td>72,422</td><td>136,696</td><td>+64,274</td></tr></table>
Note: For further details see page 28. Source: Daily Treasury Statements. * Less than $500,000.
Table 4.- Statement of Obligations Guaranteed by the United States Outstanding
June 30, 1942 and 1943
(In millions of dollars)
<table><tr><th></th><th>1942</th><th>1943</th><th>Increase (+) Decrease (-)</th></tr><tr><td>Public issues:</td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation.</td><td>701</td><td>480</td><td>-221</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>944</td><td>932</td><td>-12</td></tr><tr><td>Federal Housing Administration.</td><td>21</td><td>23</td><td>+2</td></tr><tr><td>Federal Public Housing Authority.</td><td>114</td><td>114</td><td>*</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>1,568</td><td>1,539</td><td>-29</td></tr><tr><td>Reconstruction Finance Corporation.</td><td>1,220</td><td>1,011</td><td>-209</td></tr><tr><td>Total public issues.</td><td>4,568</td><td>4,100</td><td>-468</td></tr><tr><td>Issues held by the Treasury:</td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation.</td><td>400</td><td>1,950</td><td>+1,550</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>263</td><td>-</td><td>-263</td></tr><tr><td>Federal Public Housing Authority.</td><td>274</td><td>283</td><td>+9</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>551</td><td>212</td><td>-339</td></tr><tr><td>Reconstruction Finance Corporation.</td><td>2,534</td><td>5,033</td><td>+2,499</td></tr><tr><td>Tennessee Valley Authority.</td><td>57</td><td>57</td><td>-</td></tr><tr><td>Total issues held by the Treasury.</td><td>4,079</td><td>7,535</td><td>+3,456</td></tr><tr><td>Total guaranteed obligations.</td><td>8,647</td><td>11,635</td><td>+2,988</td></tr></table>
Note: This statement consists of matured and unmatured obligations. For information on unmatured obligations outstanding at end of current and prior fiscal years, see page 28. Source: Daily Treasury Statements. * Less than $500,000.
SUMMARY OF FISCAL STATISTICS
-7-
Budget Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="4">Actual</th><th rowspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>Actual 1942 to actual 1943 1/</th><th>Actual 1943 to estimated 1944 1/</th></tr><tr><td>Receipts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Internal revenues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income and profits taxes 2/</td><td>2,125</td><td>3,470</td><td>7,960</td><td>16,094</td><td>27,645</td><td>+8,133</td><td>+11,551</td></tr><tr><td>Employment taxes</td><td>833</td><td>925</td><td>1,186</td><td>1,498</td><td>1,971</td><td>+712</td><td>+473</td></tr><tr><td>Miscellaneous internal revenue 3/</td><td>2,345</td><td>2,967</td><td>3,847</td><td>4,553</td><td>4,936</td><td>+706</td><td>+383</td></tr><tr><td>Customs</td><td>349</td><td>392</td><td>389</td><td>324</td><td>204</td><td>-65</td><td>-120</td></tr><tr><td>Other receipts</td><td>273</td><td>515</td><td>286</td><td>916 4/</td><td>651</td><td>+631</td><td>-265</td></tr><tr><td>Total receipts</td><td>5,925</td><td>8,269</td><td>13,668</td><td>23,385</td><td>35,407</td><td>+9,717</td><td>+12,022</td></tr><tr><td>Less:</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>538</td><td>661</td><td>869</td><td>1,103</td><td>1,525</td><td>+234</td><td>+422</td></tr><tr><td>Post-war credits for excess profit tax, victory tax, etc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>800</td><td>-</td><td>+800</td></tr><tr><td>Net receipts</td><td>5,387</td><td>7,607</td><td>12,799</td><td>22,282</td><td>33,081</td><td>+9,483</td><td>+10,799</td></tr><tr><td>Expenditures: 6/</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></tr><tr><td>War Department</td><td>667</td><td>3,678</td><td>14,070</td><td>42,265</td><td>62,000</td><td>+28,195</td><td>+19,735</td></tr><tr><td>Navy Department</td><td>891</td><td>2,313</td><td>8,580</td><td>20,888</td><td>22,000</td><td>+12,309</td><td>+1,112</td></tr><tr><td>Miscellaneous war activities</td><td>99</td><td>310</td><td>3,362</td><td>8,955</td><td>13,000</td><td>+5,594</td><td>+4,045</td></tr><tr><td>Total war activities</td><td>1,657</td><td>6,301</td><td>26,011</td><td>72,109</td><td>97,000</td><td>+46,098</td><td>+24,891</td></tr><tr><td>Veterans' Administration 1/</td><td>557</td><td>563</td><td>556</td><td>602</td><td>885</td><td>+47</td><td>+283</td></tr><tr><td>Public Works 2/</td><td>950</td><td>738</td><td>680</td><td>543</td><td>403</td><td>-137</td><td>-140</td></tr><tr><td>Aid to agriculture 3/</td><td>1,559</td><td>937 10/</td><td>1,225</td><td>1,163</td><td>1,015</td><td>-61</td><td>-148</td></tr><tr><td>Social Security program 11/</td><td>513</td><td>588</td><td>659</td><td>735</td><td>786</td><td>+76</td><td>+51</td></tr><tr><td>Direct and work relief</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 12/</td><td>1,572</td><td>1,374</td><td>970</td><td>299</td><td>-</td><td>-671</td><td>-299</td></tr><tr><td>Federal Emergency Relief Administration and Civil Works Administration</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Civilian Conservation Corps</td><td>283</td><td>257</td><td>163</td><td>18</td><td>-</td><td>-145</td><td>-18</td></tr><tr><td>Interest on the public debt</td><td>1,041</td><td>1,111</td><td>1,260</td><td>1,808</td><td>3,000</td><td>+548</td><td>+1,192</td></tr><tr><td>Other 13/</td><td>866</td><td>841</td><td>873</td><td>901</td><td>1,035</td><td>+29</td><td>+134</td></tr><tr><td>Total expenditures 6/</td><td>8,998</td><td>12,711</td><td>32,397</td><td>78,179</td><td>104,124</td><td>+45,782</td><td>+25,945</td></tr><tr><td>Net budget deficit 6/</td><td>3,611</td><td>5,103</td><td>19,598</td><td>55,897</td><td>71,043</td><td>+36,300</td><td>+15,146</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Estimates are those shown in the 1944 Budget. They do not give consideration to increased income tax receipts under the Current Tax Payment Act of 1943.
2/ Includes unjust enrichment tax and victory tax.
3/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and octane taxes.
4/ Includes approximately $450 millions of deposits by War Department, Navy Department, and U. S. Maritime Commission as excessive profits on renegotiation of war contracts, and $10 millions representing repayment of amounts paid to Commodity Credit Corporation for capital impairment.
5/ For explanations, see tables in next chapter on Social Security program.
6/ Includes expenditures for public debt retirements which are changeable to the sinking fund, etc., under special provisions of law.
7/ Includes expenditures classified as transfers to trust accounts, etc., for the Adjusted Service Certificate Fund and the National Service Life Insurance Fund.
8/ Includes Public Works transactions classified as Revolving Funds (net).
9/ Includes Aid to agriculture transactions classified as Revolving Funds (net); expenditures of the Department of Agriculture classified as Departmental in the Daily Treasury Statement; and Agricultural Marketing Administration transactions classified as transfers to trust accounts, etc.
10/ Represents gross expenditures of $1,252 millions less repayments of U. S. investments in capital funds aggregating $315 millions.
11/ Includes expenditures classified as transfers to trust accounts, etc. for the Railroad Retirement Account and the Railroad Unemployment Insurance Administration Fund. Includes expenditures made by Office for Emergency Management, War Manpower Commission (U. S. Employment Service) under authority of the Social Security Act.
12/ Beginning July 1942 expenditures for National Youth Administration are shown under War activities.
13/ Includes departmental expenditures ant otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
9
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">Actual</th><th>Estimated 1/</th><th colspan="2">Change</th></tr><tr><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 actual June 30, 1943</th><th>Actual June 30, 1943 to estimated June 30, 1944</th></tr><tr><td colspan="8">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></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable</td><td>34,436</td><td>37,713</td><td>50,573</td><td>95,310</td><td>2/</td><td>+44,736</td><td>2/</td></tr><tr><td>Non-marketable</td><td>3,166</td><td>4,555</td><td>13,510</td><td>29,200</td><td>2/</td><td>+15,690</td><td>2/</td></tr><tr><td>Total public issues</td><td>37,602</td><td>42,267</td><td>64,083</td><td>124,509</td><td>2/</td><td>+60,426</td><td>2/</td></tr><tr><td>Special issue</td><td>4,775</td><td>6,120</td><td>7,885</td><td>10,871</td><td>2/</td><td>+2,986</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>42,376</td><td>48,387</td><td>71,968</td><td>135,380</td><td>2/</td><td>+63,412</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>591</td><td>574</td><td>454</td><td>1,316</td><td>2/</td><td>+862</td><td>2/</td></tr><tr><td>Total public debt outstanding</td><td>42,968</td><td>48,961</td><td>72,422</td><td>136,696</td><td>210,549</td><td>+64,274</td><td>+73,853</td></tr><tr><td colspan="8">Securities guaranteed by the United States 3/</td></tr><tr><td>Interest-bearing debt:</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></tr><tr><td>Marketable</td><td>5,498</td><td>6,360</td><td>4,549</td><td>4,023</td><td>2/</td><td>-525</td><td>2/</td></tr><tr><td>Non-marketable</td><td>-</td><td>-</td><td>-</td><td>68</td><td>2/</td><td>+68</td><td>2/</td></tr><tr><td>Total interest-bearing debt</td><td>5,498</td><td>6,360</td><td>4,549</td><td>4,092</td><td>2/</td><td>-457</td><td>2/</td></tr><tr><td>Matured debt</td><td>31</td><td>11</td><td>20</td><td>8</td><td>2/</td><td>-11</td><td>2/</td></tr><tr><td>Total guaranteed securities outstanding</td><td>5,529</td><td>6,370</td><td>4,568</td><td>4,100</td><td>1,206</td><td>-468</td><td>-2,894</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>48,496</td><td>55,332</td><td>76,991</td><td>140,796</td><td>211,755</td><td>+63,805</td><td>+70,959</td></tr></table>
Source: Daily Treasury Statement, except as noted. 1/ Based upon estimates as shown in the 1944 Budget. Estimates do not give consideration to increased income tax receipts under the Current Tax Payment Act of 1943.
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 colspan="6">Complete fiscal years, 1940 to 1944</th></tr><tr><th rowspan="2"></th><th colspan="4">Actual</th><th rowspan="2">Estimated 1/1944</th></tr><tr><th>1940</th><th>1941</th><th>1942</th><th>1943</th></tr><tr><td>Amount required to be financed:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net budget deficit 2/</td><td>3,611</td><td>5,103</td><td>19,598</td><td>55,897</td><td>71,043</td></tr><tr><td>Net increase in General Fund balance</td><td>-</td><td>742</td><td>358</td><td>6,515</td><td>-</td></tr><tr><td>Net expenditures in trust accounts, increment on gold, etc. 3/</td><td>-</td><td>148</td><td>3,506</td><td>1,851</td><td>4,739</td></tr><tr><td>Total amount required to be financed</td><td>3,611</td><td>5,994</td><td>23,461</td><td>64,274</td><td>75,782</td></tr><tr><td>Means of financing:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Increase in public debt</td><td>2,528</td><td>5,994</td><td>23,461</td><td>64,274</td><td>75,719</td></tr><tr><td>Net decrease in General Fund balance</td><td>947</td><td>-</td><td>-</td><td>-</td><td>63</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/</td><td>136</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed</td><td>3,611</td><td>5,994</td><td>23,461</td><td>64,274</td><td>75,782</td></tr></table>
Source: Daily Treasury Statements, except as noted. 1/ Based upon estimates as shown in the 1944 Budget. Estimates do not give consideration to increased income tax receipts under the Current Tax Payment Act of 1943. 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, assignorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
10
11
Appropriations and Net Contract Authorizations for the War Activities Program
As of June 30, 1943
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations 2/</th></tr><tr><td colspan="5">76th Congress, Third Session</td></tr><tr><td>Mar. 25, 1940</td><td>442</td><td>Treasury Department Appropriation Act, 1941.</td><td>$ 53,965,035</td><td>-</td></tr><tr><td>Apr. 18, 1940</td><td>459</td><td>Independent Offices Appropriation Act, 1941.</td><td>149,500,000</td><td>-</td></tr><tr><td>May 14, 1940</td><td>508</td><td>Justice Department 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>68 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>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>-</td></tr><tr><td colspan="5">77th Congress, First Session</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>1,376,644,602</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>-</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>339,360,000</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>3,415,521,150</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>Justice, State and Commerce Departments 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>998,834,561</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>$600,000,000 4/</td></tr><tr><td>Dec. 17, 1941</td><td>353</td><td>(Title II)</td><td>159,005,585</td><td>60,000,000 r</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Third Supplemental National Defense Appropriation Act, 1942.</td><td>9,112,021,947</td><td>-</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Joint Resolution (War, Philippine relief, and defense housing).</td><td>510,000,000</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, First Session</td><td>$ 49,396,437,450</td><td>$ 660,000,000 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 5/.</td><td>23,738,865,474</td><td>$2,400,000,000 r 6/</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>453</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>98,149,182 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>18,932,124,033</td><td>40,400,000</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>150,000,000 r</td></tr><tr><td>June 27, 1942</td><td>630</td><td>Independent Offices Appropriation Act, 1943.</td><td>1,052,812,004</td><td>90,000,000</td></tr><tr><td>July 2, 1942</td><td>644</td><td>Justice, State and Commerce Departments Appropriation Act, 1943.</td><td>261,908,180</td><td>-</td></tr><tr><td>July 2, 1942</td><td>645</td><td>Interior Department 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>35,000,000 r</td></tr><tr><td>July 2, 1942</td><td>647</td><td>Labor - Federal Security Appropriation Act, 1943.</td><td>227,726,864</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>Oct. 26, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943 8/.</td><td>6,299,361,448</td><td>7,103,522,201 r 6/</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session</td><td>$139,736,203,988</td><td>$9,917,071,383 r</td></tr></table>
(Continued on following page)
12
Appropriations and Net Contract Authorizations for the War Activities Program
As of June 30, 1943 1/2 - (Continued)
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations 2/</th></tr><tr><td colspan="5">78th Congress, First Session</td></tr><tr><td>Mar. 2, 1943</td><td>3</td><td>Joint Resolution (Selective Service System).......</td><td>$ 21,160,000</td><td>-</td></tr><tr><td>Mar. 18, 1943</td><td>11</td><td>First Deficiency Appropriation Act, 1943.</td><td>4,063,948,984 r</td><td>$ 2,173,719,545</td></tr><tr><td>Mar. 31, 1943</td><td>20</td><td>Supplemental Naval Appropriation Act, 1943.</td><td>3,835,176,119</td><td>50,000,000 r</td></tr><tr><td>Apr. 29, 1943</td><td>45</td><td>Joint Resolution (farm labor program).</td><td>26,100,000</td><td>-</td></tr><tr><td>May 7, 1943</td><td>50</td><td>Joint Resolution (Commerce Department - war training program).</td><td>3,500,000</td><td>-</td></tr><tr><td>June 2, 1943</td><td>64</td><td>War Department Civil Appropriation Act, 1944.</td><td>1,457,898</td><td>-</td></tr><tr><td>June 14, 1943</td><td>70</td><td>Defense Aid Supplemental Appropriation Act, 1943.</td><td>6,273,629,000</td><td>-</td></tr><tr><td>June 26, 1943</td><td>90</td><td>Independent Offices Appropriation Act, 1944.</td><td>1,395,013,569</td><td>-</td></tr><tr><td>June 26, 1943</td><td>92</td><td>Naval Appropriation Act, 1944.</td><td>27,637,226,198 9/</td><td>5,489,000,000 6/</td></tr><tr><td colspan="3">Total, 78th Congress, First Session.</td><td>$ 43,258,211,768</td><td>$ 7,712,719,545</td></tr><tr><td colspan="5">Pending 10/</td></tr><tr><td colspan="3">Department of Agriculture Appropriation Bill, 1944.</td><td>$ 38,048,000</td><td>-</td></tr><tr><td colspan="3">Interior Department Appropriation Bill, 1944.</td><td>17,519,875</td><td>-</td></tr><tr><td colspan="3">Justices, State and Commerce Departments Appropriation Bill, 1944.</td><td>67,635,000</td><td>-</td></tr><tr><td colspan="3">Labor - Federal Security Appropriation Bill, 1944.</td><td>355,105,000</td><td>-</td></tr><tr><td colspan="3">Military Appropriation Bill, 1944.</td><td>59,034,839,673</td><td>-</td></tr><tr><td colspan="3">Second Deficiency Appropriation Bill, 1943.</td><td>1,210,170</td><td>-</td></tr><tr><td colspan="3">Urgent Deficiency Appropriation Bill, 1943.</td><td>31,979,600</td><td>-</td></tr><tr><td colspan="3">National War Agencies Appropriation Bill, 1944.</td><td>2,936,215,033</td><td>$ 18,000,000</td></tr><tr><td colspan="3">Total pending, 78th Congress, First Session.</td><td>$ 62,482,552,351</td><td>$ 18,000,000</td></tr><tr><td colspan="5">Summary</td></tr><tr><td colspan="3">Total, 76th Congress, Third Session.</td><td>$ 8,994,015,828</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, First Session.</td><td>49,396,437,450</td><td>$ 660,000,000 r</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session.</td><td>139,736,203,988</td><td>9,917,071,383 r</td></tr><tr><td colspan="3">Total, 78th Congress, First Session.</td><td>43,258,211,768</td><td>7,712,719,545</td></tr><tr><td colspan="3">Permanent appropriations and net transfers from other than war activities appropriations 11/.</td><td>103,343,523</td><td>-</td></tr><tr><td colspan="3">Total approved.</td><td>$241,488,212,558</td><td>$18,289,790,928</td></tr><tr><td colspan="3">Total pending, 78th Congress, First Session.</td><td>62,482,552,351</td><td>18,000,000</td></tr><tr><td colspan="3">Liquidations of 1940 and prior contract authorisations.</td><td>467,872,846</td><td>-</td></tr><tr><td colspan="3">Total approved and pending.</td><td>$303,502,892,063</td><td>$18,307,790,928</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/ 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. 5/ Includes $9,693,525,500 appropriated for the fiscal year 1942. 6/ Unappropriated contract authorizations for the naval expansion program are as follows:
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 $30,000,000 for the fiscal year 1942 and $172,439,000 for the fiscal year 1943. In addition, $7,524,120,000 is made immediately available and $10,234,194,400 is included for the liquidation of prior contract authorizations.
10/ Pending appropriations, as used herein, represent war legislation reported from the Committee on Appropriations to the floor of the House.
11/ 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 $3,338,031 received as war contributions under authority of the Second War Powers Act and deposits of advance payments made by foreign governments to the Defense Aid Special Fund for the procurement of defence articles amounting to $36,124,858.
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Amount</th></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>$ 2,400,000,000 r</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>(Estimated) 7,103,522,201 r</td></tr><tr><td>June 26, 1943</td><td>92</td><td>(Estimated) 3,489,000,000</td></tr><tr><td></td><td></td><td>$12,992,522,201 r</td></tr></table>
13
Budget Receipts and Expenditures
Table 1.- Summary by Major Classifications
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="5">Receipts</th><th colspan="5">Expenditures 1/</th><th rowspan="2">Net budget deficit 1/</th><th rowspan="2">Public debt retirements 2/</th></tr><tr><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs</th><th>Other receipts</th><th>Loss not amount transferred to Federal Old-Age and Survivors Insurance Trust Fund 3/</th><th>Net receipts</th><th>Total expenditures</th><th>General 4/</th><th>War activities 5/</th><th>Revolving funds (net) 6/</th><th>Transfers to trust accounts, etc. 6/</th></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>16</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>3,189</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 9/</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 10/</td><td>661</td><td>7,607</td><td>12,711</td><td>6,215 11/</td><td>6,301</td><td>-136 11/</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 12/</td><td>659</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>1943</td><td>23,385</td><td>22,144</td><td>324</td><td>916 13/</td><td>1,103</td><td>22,282</td><td>78,179</td><td>5,595</td><td>72,109</td><td>40</td><td>435</td><td>55,897</td><td>3</td></tr><tr><td>1942-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 12/</td><td>1</td><td>2,527</td><td>5,931</td><td>584</td><td>5,384</td><td>-3</td><td>5</td><td>3,404</td><td>*</td></tr><tr><td>October</td><td>638</td><td>603</td><td>24</td><td>20</td><td>41</td><td>607</td><td>5,937</td><td>401</td><td>5,482</td><td>*</td><td>56</td><td>5,371</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><tr><td>April</td><td>1,555</td><td>1,356</td><td>32</td><td>127</td><td>41</td><td>1,514</td><td>7,466</td><td>439</td><td>6,974</td><td>16</td><td>38</td><td>5,952</td><td>*</td></tr><tr><td>May</td><td>1,742</td><td>1,581</td><td>37</td><td>124</td><td>262</td><td>1,480</td><td>7,435</td><td>328</td><td>7,092</td><td>14</td><td>1</td><td>5,955</td><td>*</td></tr><tr><td>June</td><td>4,569</td><td>4,211</td><td>34</td><td>324</td><td>*</td><td>4,569</td><td>8,327</td><td>846</td><td>7,469</td><td>10</td><td>1</td><td>3,758</td><td>*</td></tr></table>
Daily Treasury Statements. Less than $500,000. 
1/ Excludes amounts for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law. 
2/ For further details, see Table 2. 
3/ For explanation, see tables which follow on the Social Security program. 
4/ For further details, see Table 3. 
5/ For further details, see Table 4. 
6/ For further details, see Table 5. Also see footnotes 3/ and 4/. 
7/ Total expenditures less net receipts. 
8/ Represents expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law. 
9/ Includes recoveries of U. S. investments in capital funds totaling $54 millions. For further details see "Treasury Bulletin" for June 1943, page 9, footnote 10/. 
10/ Includes recoveries of U. S. investments in capital funds totaling
$319 millions. For further details see "Treasury Bulletin" for June 1943, page 9, footnote 11/.
11/ Receipts from capital stock and paid-in surplus reductions that are available to be reissued under existing law are not reflected under receipts, but rather are included as negative items under expenditures. During the fiscal year 1941, reductions in capital in this manner totaled $160 millions for general expenditures and $155 millions for revolving funds. For further details see "Treasury Bulletin" for June 1943, page 9, footnote 12/.
12/ 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.
13/ Includes approximately $450 millions deposited during the fiscal year by War Department, Navy Department and U. S. Maritime Commission and covered in as reimbursements of excessive profits on renegotiated war contracts.
Table 2.- Analysis of Receipts from Internal Revenue
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Income and profits taxes 2/</th><th colspan="3">Employment taxes</th><th>Miscellaneous internal revenue</th><th>Agricultural adjustment taxes</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Federal insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th><th>$/</th><th></th></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>7,36</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>3,847</td><td>*</td></tr><tr><td>1943</td><td>22,144</td><td>16,094</td><td>1,498</td><td>1,130</td><td>158</td><td>209</td><td>4,553</td><td>*</td></tr><tr><td>1942-June</td><td>2,424</td><td>2,066</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>245</td><td>231</td><td>9</td><td>8</td><td>337</td><td>*</td></tr><tr><td>December</td><td>2,645</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>360</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><tr><td>April</td><td>1,396</td><td>1,000</td><td>50</td><td>43</td><td>3</td><td>3</td><td>346</td><td>*</td></tr><tr><td>May</td><td>1,581</td><td>940</td><td>282</td><td>265</td><td>12</td><td>6</td><td>359</td><td>*</td></tr><tr><td>June</td><td>4,211</td><td>3,803</td><td>55</td><td>3</td><td>3</td><td>49</td><td>353</td><td>*</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 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 on
titled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VII and IX, respectively, of the Social Security Act.
4/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes and estate tax.
14
Budget Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Piecral year or month</th><th>Total</th><th>Veterano Administration 1/ 2/</th><th>Public Works 2/ 3/</th><th>Aid to agriculture 2/ 3/</th><th>Social Security program 2/ 5/</th><th colspan="3">Direct and work relief</th><th>Civilian Conservation Corps</th><th>Interest on the public debt</th><th>Other departmental 6/</th><th>Other general expenditures 9/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Work Projects Administration and National Youth Administration 6/</th><th>Federal Emergency Relief Administration and Civil Works Administration 7/</th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>1934</td><td>4,908</td><td>507</td><td>549</td><td>1429</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>1,831</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>655</td><td>966</td><td>29</td><td>1,264</td><td>495</td><td>486</td><td>749</td><td>424</td><td>258</td></tr><tr><td>1937</td><td>6,437</td><td>581</td><td>803</td><td>988</td><td>134</td><td>1,896</td><td>-1</td><td>386</td><td>866</td><td>510</td><td>223</td></tr><tr><td>1938</td><td>5,864</td><td>582</td><td>670</td><td>866</td><td>335</td><td>1,472</td><td>4</td><td>326</td><td>926</td><td>481</td><td>200</td></tr><tr><td>1939</td><td>7,221</td><td>557</td><td>900</td><td>1,237</td><td>317</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 10/</td><td>457</td><td>1,374</td><td>-</td><td>257</td><td>1,111</td><td>525</td><td>216</td></tr><tr><td>1942</td><td>5,986</td><td>555</td><td>669</td><td>1,091</td><td>515</td><td>970</td><td>-</td><td>163</td><td>1,260</td><td>544</td><td>220</td></tr><tr><td>1943</td><td>5,595</td><td>572</td><td>545</td><td>1,052</td><td>514</td><td>299</td><td>-</td><td>18</td><td>1,808</td><td>590</td><td>197</td></tr><tr><td>1942-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>16</td></tr><tr><td>November</td><td>320</td><td>47</td><td>39</td><td>83</td><td>10</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>28</td><td>-</td><td>-18</td><td>353</td><td>49</td><td>22</td></tr><tr><td>1943-January</td><td>391</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><tr><td>April</td><td>439</td><td>48</td><td>35</td><td>101</td><td>60</td><td>11</td><td>-</td><td>21</td><td>89</td><td>59</td><td>16</td></tr><tr><td>May</td><td>328</td><td>48</td><td>22</td><td>85</td><td>37</td><td>8</td><td>-</td><td>•</td><td>42</td><td>70</td><td>14</td></tr><tr><td>June</td><td>846</td><td>48</td><td>41</td><td>58</td><td>15</td><td>3</td><td>-</td><td>•</td><td>609</td><td>44</td><td>27</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $500,000.
1/ Includes public works undertaken by the Veterans' Administration.
2/ Does not include expenditures for (1) revolving funds or (2) transfer to trust accounts, etc. These are shown in Table 5.
3/ 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.
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.
5/ 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. For further details, see tables which follow on the Social Security program.
6/ Work Projects Administration was formerly Works Progress Administration. Beginning with July 1942, expenditures for the National Youth Administration are shown in Table 4.
7/ Includes expenditures of the Reconstruction Finance Corporation for relief through loans and grants to States, municipalities, etc.
8/ Excludes expenditures for the U. S. Maritime Commission, departmental expenditures under the Social Security program and the Department of Agriculture departmental expenditures.
9/ 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; Federal Housing Administration; Treasury Department investments in Federal savings and loan associations; certain expenditures of the Panama Canal; and capital stock of the Federal Deposit Insurance Corporation, Home Owners' Loan Corporation, Federal home loan banks, and Disaster Loan Corporation.
10/ Gross expenditures have been reduced $160 millions representing the repayment of capital funds by certain United States Government agencies. For details see footnotes to Table 1.
Table 4.- Analysis of Expenditures for War Activities
(In millions of dollars)
<table><tr><th>Piecals year or month</th><th>Total</th><th>War Department</th><th>Heavy Department</th><th colspan="9">Miscellaneous war activities</th></tr><tr><th></th><th></th><th></th><th></th><th>Total miscellaneous war activities</th><th>Agriculture Department</th><th>Federal Security Agency</th><th>Federal Works Agency</th><th>National Housing Agency 1/</th><th>Selective Service (administrative)</th><th>Treasury Department</th><th>United States Maritime Commission 2/</th><th>War Shipping Administration</th><th>Aid to China</th><th>Other war activities expenditures 3/</th></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>-10</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>689</td><td>273</td><td>436</td><td>-21</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-21</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>900</td><td>383</td><td>559</td><td>-12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-12</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>929</td><td>378</td><td>557</td><td>-6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>1,029</td><td>432</td><td>596</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>1,206</td><td>490</td><td>673</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1940</td><td>1,657</td><td>667</td><td>891</td><td>99</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>99</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1941</td><td>6,301</td><td>3,678</td><td>2,323</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>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>297</td><td>33</td><td>519</td><td>929</td><td>132</td><td>200</td><td>382</td></tr><tr><td>1943</td><td>72,109</td><td>42,265</td><td>20,888</td><td>8,955</td><td>2,011</td><td>153</td><td>215</td><td>608</td><td>52</td><td>1,201</td><td>2,776</td><td>1,105</td><td>40</td><td>795</td></tr><tr><td>1942-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>524</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>1,894</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>1,996</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>5,947</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><tr><td>April</td><td>6,974</td><td>3,727</td><td>2,102</td><td>1,145</td><td>514</td><td>21</td><td>15</td><td>61</td><td>6</td><td>120</td><td>248</td><td>69</td><td>-</td><td>92</td></tr><tr><td>May</td><td>7,092</td><td>3,857</td><td>2,251</td><td>984</td><td>382</td><td>11</td><td>26</td><td>77</td><td>5</td><td>106</td><td>243</td><td>85</td><td>-</td><td>51</td></tr><tr><td>June</td><td>7,469</td><td>3,424</td><td>2,980</td><td>1,065</td><td>318</td><td>4</td><td>33</td><td>70</td><td>5</td><td>117</td><td>315</td><td>116</td><td>-</td><td>86</td></tr></table>
Source: Daily Treasury Statements. Back Figures: For monthly figures commencing July 1940, see "Treasury Bulletin" for May 1943, page 7. 1/ Less than $500,000. 1/ Includes war public housing functions. 2/ Includes emergency ship construction, beginning March 1941. 3/ Similar items for periods prior to fiscal year 1941 are classified
under Other departmental and Other general expenditures in Table 3. Includes war expenditures of Commerce, Justice, Interior, and State Departments; Civil Service Commission; Executive Offices of the President (including Office for Emergency Management); Panama Canal; capital stock of Smaller War Plants Corporation; and Defense Aid Special Fund.
15
Budget Receipts and Expenditures - (Continued)
Table 5.- Analysis of Expenditures for (1) Revolving Funds and (2) Transfers to Trust Accounts, Etc
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Revolving funds (net) 1/</th><th colspan="6">Transfers to trust accounts, etc.</th></tr><tr><th>Total</th><th>Aid to agriculture 2/</th><th>Public works 3/</th><th>Total</th><th>Veterans' Administration 4/</th><th>Social Security program 5/</th><th>Government employees' retirement funds (U. S. share)</th><th>Aid to agriculture 6/</th><th>Federal contribution to District of Columbia (U. S. share)</th></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>6</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>5</td></tr><tr><td>1941</td><td>-136</td><td>-159 7/</td><td>23</td><td>331</td><td>10</td><td>132</td><td>93</td><td>91</td><td>6</td></tr><tr><td>1942</td><td>18</td><td>7</td><td>11</td><td>381</td><td>1</td><td>145</td><td>103</td><td>126</td><td>6</td></tr><tr><td>1943</td><td>40</td><td>41</td><td>-1</td><td>435</td><td>30</td><td>221</td><td>107</td><td>71</td><td>6</td></tr><tr><td>1942-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><tr><td>April</td><td>16</td><td>16</td><td>*</td><td>38</td><td>3</td><td>35</td><td>-</td><td>1</td><td>-</td></tr><tr><td>May</td><td>14</td><td>14</td><td>*</td><td>1</td><td>2</td><td>-</td><td>-</td><td>*</td><td>-</td></tr><tr><td>June</td><td>10</td><td>10</td><td>*</td><td>1</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* More 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/ Agricultural Marketing Administration (surplus commodity stamps).
7/ Gross expenditures have been reduced $155 millions representing the repayment of capital funds by certain United States Government agencies. For details see footnotes to Table 1.
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>464</td><td>279</td><td>299</td><td>421</td><td>235</td><td>234</td><td>434</td><td>3,897</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>365</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>1,514</td><td>1,480</td><td>4,569</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>612</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>7,794</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>616</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>948</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>7,466</td><td>7,135</td><td>8,327</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>-33</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>3,987</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>5,952</td><td>5,955</td><td>3,758</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.
16
BUDGET RECEIPTS AND EXPENDITURES
17
Receipts and Expenditures for Trust Accounts, Increment on Gold, Etc.
Table 1.- Trust Funds
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust funds, net receipts (+) or net expenditures (-)</th><th colspan="3">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="3">Unemployment Trust Fund</th><th colspan="3">Railroad Retirement Account</th><th colspan="3">Other trust accounts 1/</th></tr><tr><th></th><th></th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th></tr><tr><td>1934</td><td>+24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+24</td><td>233</td><td>210</td></tr><tr><td>1935</td><td>+64</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+64</td><td>301</td><td>237</td></tr><tr><td>1936</td><td>+34</td><td>-</td><td>267</td><td>267</td><td>-</td><td>19</td><td>19</td><td>-</td><td>-</td><td>-</td><td>+34</td><td>2,053</td><td>2,020</td></tr><tr><td>1937</td><td>+19</td><td>-</td><td>402</td><td>401</td><td>+12</td><td>763</td><td>751</td><td>+2</td><td>148</td><td>146</td><td>+20</td><td>323</td><td>327</td></tr><tr><td>1938</td><td>+11</td><td>+1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-4</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>+29</td><td>+1</td><td>530</td><td>529</td><td>+1</td><td>838</td><td>837</td><td>+2</td><td>109</td><td>107</td><td>+24</td><td>349</td><td>325</td></tr><tr><td>1940</td><td>+37</td><td>+3</td><td>580</td><td>577</td><td>+1</td><td>959</td><td>957</td><td>-2</td><td>123</td><td>125</td><td>+35</td><td>366</td><td>331</td></tr><tr><td>1941</td><td>+37</td><td>+10</td><td>717</td><td>707</td><td>-4</td><td>1,114</td><td>1,118</td><td>+11</td><td>127</td><td>116</td><td>+20</td><td>409</td><td>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>1,245</td><td>°</td><td>144</td><td>144</td><td>+57</td><td>512</td><td>455</td></tr><tr><td>1943</td><td>+92</td><td>+6</td><td>1,190</td><td>1,185</td><td>-6</td><td>1,399</td><td>1,404</td><td>+4</td><td>221</td><td>217</td><td>+88</td><td>975</td><td>887</td></tr><tr><td>1942-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>230</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>+12</td><td>-</td><td>-</td><td>-4</td><td>50</td><td>54</td><td>°</td><td>34</td><td>34</td><td>+22</td><td>64</td><td>42</td></tr><tr><td>November</td><td>+274</td><td>+227</td><td>229</td><td>2</td><td>+40</td><td>243</td><td>203</td><td>°</td><td>°</td><td>°</td><td>+6</td><td>54</td><td>48</td></tr><tr><td>December</td><td>-230</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>-8</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><tr><td>April</td><td>+49</td><td>+41</td><td>41</td><td>1</td><td>+3</td><td>35</td><td>32</td><td>°</td><td>35</td><td>35</td><td>+6</td><td>91</td><td>85</td></tr><tr><td>May</td><td>+266</td><td>+248</td><td>262</td><td>14</td><td>+2</td><td>277</td><td>275</td><td>°</td><td>°</td><td>°</td><td>+15</td><td>82</td><td>67</td></tr><tr><td>June</td><td>-279</td><td>-287</td><td>84</td><td>372</td><td>-8</td><td>81</td><td>88</td><td>+4</td><td>4</td><td>°</td><td>+11</td><td>152</td><td>141</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 1/ Includes Government insurance and retirement funds, etc.
Table 2.- Other Funds
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Transactions in checking accounts of Government agencies, etc.</th><th colspan="3">Increment on gold</th><th colspan="3">Seigniorage on silver</th><th colspan="3">Miscellaneous funds and accounts 2/</th></tr><tr><th></th><th>Total all transactions</th><th>Issuance of obligations 1/</th><th>Other transactions</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th><th>Net</th><th>Receipts</th><th>Expenditures</th></tr><tr><td>1934</td><td>-734</td><td>3/</td><td>3/</td><td>+811</td><td>2,811</td><td>2,000</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>+637</td><td>3/</td><td>3/</td><td>-111</td><td>2</td><td>113</td><td>+140</td><td>140</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>+108</td><td>3/</td><td>3/</td><td>-403</td><td>1</td><td>404</td><td>+176</td><td>176</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>+314</td><td>3/</td><td>3/</td><td>-99</td><td>2</td><td>101</td><td>+40</td><td>40</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>+204</td><td>3/</td><td>3/</td><td>-51</td><td>1</td><td>52</td><td>+90</td><td>90</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>+768</td><td>+1,106</td><td>-337</td><td>-5</td><td>*</td><td>5</td><td>+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>1943</td><td>-2,194</td><td>-658</td><td>-1,535</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>+241</td><td>155</td><td>-86</td></tr><tr><td>1942-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>-2</td><td>+451</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>+44</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><tr><td>April</td><td>-17</td><td>-4</td><td>-13</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>+16</td><td>1</td><td>-15</td></tr><tr><td>May</td><td>-356</td><td>-290</td><td>-66</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>+51</td><td>*</td><td>-52</td></tr><tr><td>June</td><td>+62</td><td>-2</td><td>+83</td><td>*</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-9</td><td>*</td><td>9</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.
18
Means of Financing Cash Requirements
(In millions of dollars)
(14)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="3">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>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>540</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>19,998</td><td>358</td><td>3,506</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>1943</td><td>64,274</td><td>55,897</td><td>6,515</td><td>1,861</td><td>64,274</td><td>64,274</td><td>-</td><td>-</td></tr><tr><td>1942-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><tr><td>April</td><td>14,390</td><td>5,952</td><td>8,438</td><td>-</td><td>14,390</td><td>14,342</td><td>-</td><td>48</td></tr><tr><td>May</td><td>6,064</td><td>5,955</td><td>70</td><td>39</td><td>6,064</td><td>6,064</td><td>-</td><td>-</td></tr><tr><td>June</td><td>3,964</td><td>3,758</td><td>-</td><td>206</td><td>3,964</td><td>784</td><td>3,180</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.
19
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>265.0</td><td>-12.8</td></tr><tr><td>1938</td><td>604.4</td><td>514.4</td><td>90.1</td><td>387.0</td><td>217.4</td></tr><tr><td>1939</td><td>631.2</td><td>530.4</td><td>100.9</td><td>503.0</td><td>128.2</td></tr><tr><td>1940</td><td>712.2</td><td>604.7</td><td>107.5</td><td>537.7</td><td>174.5</td></tr><tr><td>1941</td><td>788.2</td><td>690.6</td><td>97.7</td><td>661.3</td><td>126.9</td></tr><tr><td>1942</td><td>1,015.6</td><td>895.6</td><td>119.9</td><td>868.9</td><td>146.7</td></tr><tr><td>1943</td><td>1,288.9</td><td>1,130.5</td><td>158.4</td><td>1,103.0</td><td>185.9</td></tr><tr><td>1942-June</td><td>4.7</td><td>3.7</td><td>1.0</td><td>1.4</td><td>3.3</td></tr><tr><td>July</td><td>52.2</td><td>49.4</td><td>2.8</td><td>47.1</td><td>5.1</td></tr><tr><td>August</td><td>220.1</td><td>211.7</td><td>8.5</td><td>209.4</td><td>10.7</td></tr><tr><td>September</td><td>4.3</td><td>3.4</td><td>.9</td><td>1.2</td><td>3.1</td></tr><tr><td>October</td><td>46.6</td><td>43.9</td><td>2.6</td><td>41.4</td><td>5.1</td></tr><tr><td>November</td><td>239.8</td><td>231.1</td><td>8.7</td><td>228.5</td><td>11.2</td></tr><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>13.6</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><tr><td>April</td><td>46.7</td><td>43.4</td><td>3.3</td><td>40.8</td><td>5.8</td></tr><tr><td>May</td><td>276.2</td><td>264.6</td><td>11.7</td><td>262.0</td><td>14.2</td></tr><tr><td>June</td><td>5.9</td><td>2.8</td><td>3.1</td><td>.2</td><td>5.7</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Total</th><th colspan="5">Total</th><th colspan="5">Grants to States</th><th rowspan="2">Refunds of taxes</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Total</th><th>Administrative expenses</th><th>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Unemployment compensation administration</th><th>Public health work</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare services</th><th>Office for Emergency Management War Manpower Commission (U. S. Employment Service)</th></tr><tr><td>1936</td><td>28.4</td><td>.6</td><td>27.8</td><td>19.7</td><td>2.0</td><td>1.0</td><td>.9</td><td>2.4</td><td>1.0</td><td>.6</td><td>.2</td><td>-</td><td>28.4</td></tr><tr><td>1937</td><td>182.7</td><td>15.8</td><td>166.9</td><td>124.8</td><td>14.3</td><td>4.6</td><td>9.1</td><td>7.8</td><td>3.1</td><td>2.1</td><td>1.0</td><td>-</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>41.06/</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>1.8</td><td>215.1</td></tr><tr><td>1940</td><td>384.2</td><td>25.3</td><td>356.5</td><td>227.6</td><td>45.4</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.3</td><td>1.5</td><td>2.5</td><td>209.7</td></tr><tr><td>1941</td><td>449.4</td><td>31.5</td><td>415.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>2.6</td><td>322.5</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>3.5r</td><td>357.8r</td></tr><tr><td>1943</td><td>527.2</td><td>33.3</td><td>491.1</td><td>316.9</td><td>67.3</td><td>8.5</td><td>55.1</td><td>10.7</td><td>6.5</td><td>3.8</td><td>1.6</td><td>2.8</td><td>341.3</td></tr><tr><td>1942-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>-</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>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>6.3</td><td>.8</td><td>3.3</td><td>.6</td><td>.4</td><td>.5</td><td>.3</td><td>-</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>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>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>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>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>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>-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>38.3</td></tr><tr><td>April</td><td>61.6</td><td>3.0</td><td>58.3</td><td>38.6</td><td>8.2</td><td>1.0</td><td>4.7</td><td>2.1</td><td>.5</td><td>.5</td><td>.4</td><td>2.4</td><td>55.7</td></tr><tr><td>May</td><td>39.0</td><td>2.9</td><td>35.8</td><td>25.3</td><td>5.4</td><td>.8</td><td>.3</td><td>.3</td><td>1.1</td><td>.4</td><td>*</td><td>2.1</td><td>24.8</td></tr><tr><td>June</td><td>16.4</td><td>3.0</td><td>13.1</td><td>9.6</td><td>.6</td><td>.1</td><td>.2</td><td>*</td><td>.8</td><td>.3</td><td>*</td><td>1.5</td><td>10.7</td></tr></table>
D:
Daily Treasury Statements.
Revised.
Less than $50,00
Formerly Title VIII of the Social Security Act.
Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See Table 3 of Section I).
3/
Prior to January 1, 1940, figures represent amounts transferred to the Old-Age Reserve Account. From January 1 to July 1, 1940 "transfers" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury and "appropriated" directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to cover administrative expenses, which are shown as expenditures in
Section II, Table 1.
Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201(f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency.
51
Covered by appropriations by Congress
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 employees' tax for 1936 collected under the Social Security Act.
20
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>Receipts 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>Excess of expenditures 2/</th></tr><tr><td>1936</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>1.5</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>1938</td><td>150.1</td><td>149.0</td><td>2.6</td><td>146.4</td><td>.1</td><td>-1.1</td></tr><tr><td>1939</td><td>109.3</td><td>110.0</td><td>2.9</td><td>107.1</td><td>.1</td><td>.7</td></tr><tr><td>1940</td><td>121.0</td><td>123.3</td><td>2.6</td><td>120.7</td><td>*</td><td>2.3</td></tr><tr><td>1941</td><td>136.9</td><td>128.2</td><td>3.8</td><td>124.4</td><td>.1</td><td>-8.7</td></tr><tr><td>1942</td><td>170.0</td><td>148.5</td><td>7.6</td><td>140.9</td><td>*</td><td>-21.6</td></tr><tr><td>1943</td><td>208.8</td><td>220.2</td><td>5.4</td><td>214.8</td><td>*</td><td>11.4</td></tr><tr><td>1942-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><tr><td>April</td><td>3.0</td><td>35.1</td><td>.4</td><td>34.7</td><td>*</td><td>32.1</td></tr><tr><td>May</td><td>5.9</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-5.7</td></tr><tr><td>June</td><td>48.6</td><td>.3</td><td>.3</td><td>-</td><td>*</td><td>-48.3</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
2/ Retirement Act. Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Receipts</th><th colspan="3">Expenditures</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><th>Railroad unemployment insurance contributions 2/</th><th>Total</th><th>Administrative expenses (Railroad Unemployment Insurance administration fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>-</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>1943</td><td>10.3</td><td>8.2</td><td>2.2</td><td>6.0</td><td>-2.1</td></tr><tr><td>1942-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><tr><td>April</td><td>*</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>May</td><td>*</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>June</td><td>2.6</td><td>.3</td><td>.3</td><td>-</td><td>-2.3</td></tr></table>
Sources: Daily Treasury Statements. * Less than $50,000. 1/ Operated as Railroad Unemployment Insurance Administration Fund. 2/ Represents 10% of contributions under the Railroad Unemployment Insurance Act; the remaining 90% is deposited in the Railroad Unemployment Insurance Account, Unemployment Trust Fund (See Section II, Table 3). Excludes amounts appropriated to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act, as follows
(in millions) Calendar year 1936 - $2.7, 1937 - $5.3, 1938 - $6.8, and for the first six months of the calendar year 1939 - $2.9, aggregating $17.7. These amounts are included in Table 1 under Federal Unemployment Tax Act (unemployment insurance).
3/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ Covered by appropriations by Congress.
21
Social Security Program - (Continued)
Section II.- Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fund
(Cumulative from organization - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total expenditures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expenses $/</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>5.4</td><td>5.4</td><td>-</td><td>267.2</td><td>.1</td><td>.1</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>19.3</td><td>-</td><td>777.2</td><td>113.0</td><td>1.9</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>.1</td><td>3.0</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>.5</td><td>6.1</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>6.2</td><td>10.8</td></tr><tr><td>1942</td><td>3,502.8</td><td>3,288.8</td><td>214.1</td><td>275.6</td><td>209.8</td><td>65.9</td><td>3,227.2</td><td>5.2</td><td>20.4</td></tr><tr><td>1943</td><td>4,720.7</td><td>4,419.3</td><td>301.5</td><td>452.4</td><td>359.1</td><td>93.4</td><td>4,268.3</td><td>7.0</td><td>24.5</td></tr><tr><td>1943-April</td><td>4,369.5</td><td>4,151.9</td><td>217.6</td><td>419.7</td><td>331.4</td><td>88.3</td><td>3,949.8</td><td>15.5</td><td>24.2</td></tr><tr><td>May</td><td>4,634.1</td><td>4,416.5</td><td>217.6</td><td>436.0</td><td>345.1</td><td>90.8</td><td>4,198.1</td><td>293.6</td><td>24.5</td></tr><tr><td>June</td><td>4,720.7</td><td>4,419.3</td><td>301.5</td><td>452.4</td><td>359.1</td><td>93.4</td><td>4,268.3</td><td>7.0</td><td>24.5</td></tr></table>
Source: Daily Treasury Statements.
Less than $50,000.
Includes transactions effected under the predecessor Old-Age
2/ Reserve account. Under Section 201 (s) of the Social Security Act amendments of 1939.
Table 2.- Railroad Retirement Act
(Cumulative from organization - 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 colspan="2">Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>46.6</td><td>46.6</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>*</td></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.3</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>298.7</td><td>92.1</td><td>79.4</td><td>10.5</td><td>1.5</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>1943</td><td>871.5</td><td>854.2</td><td>17.3</td><td>676.6</td><td>194.9</td><td>178.0</td><td>4.1</td><td>12.5</td></tr><tr><td>1943-April</td><td>867.1</td><td>854.2</td><td>12.9</td><td>654.5</td><td>212.6</td><td>200.0</td><td>.2</td><td>12.4</td></tr><tr><td>May</td><td>867.4</td><td>854.2</td><td>13.2</td><td>665.5</td><td>201.9</td><td>189.0</td><td>.3</td><td>12.6</td></tr><tr><td>June</td><td>871.5</td><td>854.2</td><td>17.3</td><td>676.6</td><td>194.9</td><td>178.0</td><td>4.1</td><td>12.5</td></tr></table>
Source: Daily Treasury Statements. Loss than $50,000.
Table 3.- Unemployment Trust Fund
(Cumulative from organization - In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="5">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 Insurance 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 1/</th><th>Railroad Unemployment Insurance Account 1/</th><th>Total</th><th>Investments</th><th>1. In disbursement General Fund (Special or Deposit Account)</th><th>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>884.2</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>1,113.1</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>131.5</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>1943</td><td>6,614.0</td><td>5,935.0</td><td>274.3</td><td>105.9</td><td>17.4</td><td>2,241.5</td><td>2,092.4</td><td>105.9</td><td>43.2</td><td>4,372.5</td><td>4,367.0</td><td>4.0</td><td>1.5</td></tr><tr><td>1943-April</td><td>6,256.3</td><td>5,645.5</td><td>250.6</td><td>105.9</td><td>17.4</td><td>2,229.3</td><td>2,080.2</td><td>105.9</td><td>43.1</td><td>4,027.1</td><td>4,016.0</td><td>9.4</td><td>1.6</td></tr><tr><td>May</td><td>6,533.4</td><td>5,922.2</td><td>251.0</td><td>105.9</td><td>17.4</td><td>2,235.1</td><td>2,086.0</td><td>105.9</td><td>43.2</td><td>4,298.3</td><td>4,285.0</td><td>11.7</td><td>1.6</td></tr><tr><td>June</td><td>6,614.0</td><td>5,935.0</td><td>274.3</td><td>105.9</td><td>17.4</td><td>2,241.5</td><td>2,092.4</td><td>105.9</td><td>43.2</td><td>4,372.5</td><td>4,367.0</td><td>4.0</td><td>1.5</td></tr></table>
Source: Daily Treasury Statements. Less than $50,000. 1/ Excludes advances of $15 millions from the Treasury and subseq- uent 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 ex- penses. (See Section 1, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939 inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
22
Cash Income and Outgo of the Treasury, by Major Classifications
(In millions of dollars)
<table><tr><th></th><th colspan="7">1942</th><th colspan="7">1943</th></tr><tr><th></th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th></tr><tr><td>CASH INCOME</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budget:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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><td></td></tr><tr><td>Income and profits taxes</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><td>1,000</td><td>940</td><td>3,803</td></tr><tr><td>Employment taxes</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><td>50</td><td>282</td><td>55</td></tr><tr><td>Miscellaneous internal revenue</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><td>346</td><td>359</td><td>353</td></tr><tr><td>Customs</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><td>32</td><td>37</td><td>34</td></tr><tr><td>Other</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><td>125</td><td>123</td><td>323</td></tr><tr><td>Subtotal</td><td>2,476</td><td>785</td><td>796</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><td>1,553</td><td>1,740</td><td>4,567</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Unemployment trust fund (deposits by States and Railroad Retirement Board)</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><td>35</td><td>277</td><td>36</td></tr><tr><td>Trust accounts 2/</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><td>87</td><td>80</td><td>83</td></tr><tr><td>Subtotal</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><td>122</td><td>357</td><td>119</td></tr><tr><td>Total cash income</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><td>1,675</td><td>2,098</td><td>4,687</td></tr><tr><td>CASH OUTGO</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budget:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War activities</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><td>6,974</td><td>7,092</td><td>7,469</td></tr><tr><td>Veterans' Administration</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><td>48</td><td>48</td><td>48</td></tr><tr><td>Public Works 3/</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><td>35</td><td>22</td><td>41</td></tr><tr><td>Aid to agriculture 4/</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><td>117</td><td>99</td><td>68</td></tr><tr><td>Social Security program 5/</td><td>12</td><td>80</td><td>43</td><td>22</td><td>04</td><td>40</td><td>34</td><td>56</td><td>26</td><td>38</td><td>60</td><td>37</td><td>15</td></tr><tr><td>Work Projects Administration and National Youth Administration 6/</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><td>11</td><td>8</td><td>3</td></tr><tr><td>Civilian Conservation Corps</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><td>21</td><td>*</td><td>*</td></tr><tr><td>Interest on the public debt 1/</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><td>77</td><td>31</td><td>394</td></tr><tr><td>Other</td><td>74</td><td>63</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><td>75</td><td>84</td><td>71</td></tr><tr><td>Subtotal</td><td>4,358</td><td>4,896</td><td>5,188</td><td>5,914</td><td>5,873</td><td>5,353</td><td>6,422</td><td>6,318</td><td>6,106</td><td>7,337</td><td>7,417</td><td>7,423</td><td>8,110</td></tr><tr><td>Trust funds, etc.:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reconstruction Finance Corporation:</td><td></td><td></td><td></td><td></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>58</td><td>289</td><td>345</td><td>338</td><td>214</td><td>350</td><td>270</td><td>272</td><td>306</td></tr><tr><td>Other</td><td>284</td><td>110</td><td>235</td><td>42</td><td>166</td><td>-260</td><td>-18</td><td>-7</td><td>-12</td><td>-55</td><td>-26</td><td>-14</td><td>-137</td></tr><tr><td>Commodity Credit Corporation</td><td>30</td><td>23</td><td>90</td><td>38</td><td>114</td><td>-305</td><td>181</td><td>115</td><td>124</td><td>124</td><td>-356</td><td>-180</td><td>-177</td></tr><tr><td>Unemployment Trust Fund</td><td>29</td><td>31</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><td>8</td><td>6</td><td>6</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</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><td>14</td><td>14</td><td>14</td></tr><tr><td>Railroad Retirement Account</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><td>11</td><td>11</td><td>11</td></tr><tr><td>Other</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><td>124</td><td>-83</td><td>-122</td></tr><tr><td>Subtotal</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><td>43</td><td>26</td><td>-99</td></tr><tr><td>Redemption of adjusted service bonds</td><td>1</td><td>1</td><td>1</td><td>1</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td></tr><tr><td>Total cash outgo</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><td>7,460</td><td>7,449</td><td>8,012</td></tr><tr><td>EXCESS OF CASH OUTGO</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>4,190</td><td>5,603</td><td>4,919</td><td>2,328</td><td>5,785</td><td>5,352</td><td>3,325</td></tr></table>
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 Bulletin 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 Administra-
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. Excludes transactions under transfers to trust accounts, etc. Beginning July 1942 National Youth Administration is included in war activities expenditures. Excludes accrued interest on United States savings bonds outstanding. 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>319</td><td>519</td><td>824</td><td>365</td><td>632</td><td>767</td><td>395</td><td>521</td><td>757</td><td>6,998</td></tr><tr><td>1939</td><td>364</td><td>581</td><td>796</td><td>323</td><td>552</td><td>644</td><td>369</td><td>589</td><td>752</td><td>399</td><td>567</td><td>615</td><td>6,551</td></tr><tr><td>1940</td><td>398</td><td>614</td><td>989</td><td>385</td><td>561</td><td>781</td><td>449</td><td>724</td><td>756</td><td>458</td><td>656</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>10,899</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>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>19,257</td></tr><tr><td>1943</td><td>919</td><td>1,502</td><td>5,319</td><td>1,675</td><td>2,098</td><td>4,687</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>851</td><td>793</td><td>691</td><td>886</td><td>806</td><td>870</td><td>832</td><td>976</td><td>962</td><td>1,244</td><td>10,317</td></tr><tr><td>1941</td><td>1,179</td><td>1,150</td><td>1,555</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,516</td><td>1,748</td><td>2,046</td><td>2,439</td><td>1,973</td><td>2,778</td><td>20,841</td></tr><tr><td>1942</td><td>2,699</td><td>2,729</td><td>3,608</td><td>3,973</td><td>4,470</td><td>4,738</td><td>5,067</td><td>5,538</td><td>5,989</td><td>6,203</td><td>5,949</td><td>6,996</td><td>57,959</td></tr><tr><td>1943</td><td>6,521</td><td>6,422</td><td>7,647</td><td>7,460</td><td>7,449</td><td>8,012</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>152</td><td>85</td><td>434</td><td>181</td><td>138</td><td>1,695</td></tr><tr><td>1939</td><td>364</td><td>88</td><td>38</td><td>407</td><td>198</td><td>200</td><td>283</td><td>400</td><td>140</td><td>382</td><td>100</td><td>332</td><td>2,932</td></tr><tr><td>1940</td><td>329</td><td>65</td><td>-138</td><td>408</td><td>130</td><td>105</td><td>357</td><td>146</td><td>76</td><td>518</td><td>306</td><td>446</td><td>2,748</td></tr><tr><td>1941</td><td>704</td><td>426</td><td>-85</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>9,982</td></tr><tr><td>1942</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td>3,434</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>4,190</td><td>38,701</td></tr><tr><td>1943</td><td>5,603</td><td>4,919</td><td>2,328</td><td>5,785</td><td>5,352</td><td>3,325</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
23
GENERAL FUND OF THE TREASURY
-24-
25
Assets of the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Bullion, coin, and currency</th><th>Deposits in Federal Reserve Banks</th><th>Special deposits account of sales of Government securities</th><th>Other deposits and collections</th></tr><tr><td>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>1943</td><td>10,149</td><td>911</td><td>1,038</td><td>7,667</td><td>533</td></tr><tr><td>1942-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>11,688</td><td>909</td><td>1,021</td><td>2,411</td><td>347</td></tr><tr><td>October</td><td>5,313</td><td>931</td><td>619</td><td>3,373</td><td>390</td></tr><tr><td>November</td><td>3,557</td><td>915</td><td>512</td><td>1,695</td><td>435</td></tr><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><tr><td>April</td><td>13,112</td><td>883</td><td>1,215</td><td>10,485</td><td>529</td></tr><tr><td>May</td><td>13,152</td><td>897</td><td>651</td><td>11,117</td><td>487</td></tr><tr><td>June</td><td>10,149</td><td>911</td><td>1,038</td><td>7,667</td><td>533</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>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>1943</td><td>10,149</td><td>643</td><td>9,507</td><td>8,744</td><td>619</td><td>144</td></tr><tr><td>1942-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><tr><td>April</td><td>13,112</td><td>495</td><td>12,617</td><td>11,854</td><td>619</td><td>144</td></tr><tr><td>May</td><td>13,152</td><td>465</td><td>12,687</td><td>11,924</td><td>619</td><td>144</td></tr><tr><td>June</td><td>10,149</td><td>643</td><td>9,507</td><td>8,744</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 is the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance.
26
Analysis of Change in Balance of General Fund of the Treasury
In millions of dollars - Net increase or net decrease (-)
<table><tr><th>Change during fiscal year or month</th><th>Total change in General Fund balance</th><th colspan="6">Working balance</th><th>Seigniorage on silver</th><th>Increment on gold 5/</th></tr><tr><th></th><th></th><th>Total working balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Trust accounts 3/</th><th>Miscellaneous funds and accounts 4/</th><th>Checking accounts of Government agencies, etc.</th><th></th><th></th></tr><tr><td>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>1943</td><td>6,515</td><td>6,515</td><td>-55,897</td><td>64,274</td><td>92</td><td>241</td><td>-2,194</td><td>-</td><td>*</td></tr><tr><td>1942-June</td><td>179</td><td>179</td><td>-2,037</td><td>3,852</td><td>-205</td><td>-14</td><td>-1,417</td><td>-</td><td>*</td></tr><tr><td>July</td><td>296</td><td>296</td><td>-4,413</td><td>4,714</td><td>55</td><td>20</td><td>-78</td><td>-</td><td>*</td></tr><tr><td>August</td><td>-134</td><td>-134</td><td>-4,628</td><td>4,549</td><td>197</td><td>10</td><td>-262</td><td>-</td><td>*</td></tr><tr><td>September</td><td>1,148</td><td>1,148</td><td>-3,404</td><td>4,798</td><td>-227</td><td>6</td><td>-25</td><td>-</td><td>*</td></tr><tr><td>October</td><td>594</td><td>594</td><td>-5,331</td><td>6,420</td><td>60</td><td>27</td><td>-583</td><td>-</td><td>*</td></tr><tr><td>November</td><td>-1,814</td><td>-1,814</td><td>-5,761</td><td>3,212</td><td>274</td><td>13</td><td>449</td><td>-</td><td>*</td></tr><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>-5,164</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><tr><td>April</td><td>8,438</td><td>8,438</td><td>-5,952</td><td>14,342</td><td>49</td><td>16</td><td>-17</td><td>-</td><td>*</td></tr><tr><td>May</td><td>70</td><td>70</td><td>-5,955</td><td>6,064</td><td>266</td><td>51</td><td>-356</td><td>-</td><td>*</td></tr><tr><td>June</td><td>-3,180</td><td>-3,180</td><td>-3,758</td><td>784</td><td>-279</td><td>-9</td><td>82</td><td>-</td><td>*</td></tr></table>
Source: Daily Treasury Statements.
1/ This is the net budget deficit. Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc., under special provisions of law.
2/ This represents the increase in the gross public debt, except as noted. (See footnote 1/.)
3/ Includes Federal Old-Age and Survivors Insurance Trust Fund, Unemployment Trust Fund, Railroad Retirement Account, Government insurance and retirement funds and other trust funds.
4/ Comprises Public Works Administration revolving fund and special deposits (net). Also includes Agricultural Marketing Administration commodity food stamp transactions.
5/ Includes expenditures for retirement of national bank notes.
5/ 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 million 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
27
28
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>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>1943</th><th>Apr.</th><th>May</th><th>June</th></tr><tr><td>Securities issued by the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>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>11,864</td><td>10,044</td><td>10,853</td><td>11,864</td></tr><tr><td>Certificates of indebtedness</td><td>1,517</td><td>10,023</td><td>11,321</td><td>10,617</td><td>9,147</td><td>7,243</td><td>6,383</td><td>5,698</td><td>3,096</td><td>16,561</td><td>16,154</td><td>16,561</td><td>16,561</td></tr><tr><td>Treasury notes</td><td>6,653</td><td>12,684</td><td>17,168</td><td>19,936</td><td>21,846</td><td>25,218</td><td>26,555</td><td>30,215</td><td>38,085</td><td>57,520</td><td>55,201</td><td>57,975</td><td>57,520</td></tr><tr><td>Treasury bonds</td><td>9,333</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><td>196</td></tr><tr><td>Other bonds</td><td>7,177</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total marketable issues</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>95,710</td><td>91,392</td><td>95,382</td><td>95,310</td></tr><tr><td>Non-marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. savings bonds</td><td>-</td><td>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>21,256</td><td>19,267</td><td>20,507</td><td>21,256</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>3,015</td><td>1,031</td><td>7,787</td><td>8,163</td><td>1,031</td></tr><tr><td>Treasury notes - savings series</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6,464</td><td>-</td><td>-</td><td>6,464</td></tr><tr><td>Adjusted service bonds</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>222</td><td>223</td><td>223</td><td>222</td></tr><tr><td>Depositary bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>79</td><td>226</td><td>183</td><td>202</td><td>226</td></tr><tr><td>Total non-marketable issues</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>29,200</td><td>27,456</td><td>29,095</td><td>29,200</td></tr><tr><td>Total public issues</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>124,909</td><td>118,848</td><td>124,477</td><td>124,509</td></tr><tr><td>Special issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Adjusted Service Certificate Fund</td><td>118</td><td>156</td><td>127</td><td>38</td><td>26</td><td>20</td><td>11</td><td>19</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>100</td><td>100</td><td>95</td><td>85</td><td>101</td><td>56</td><td>90</td><td>95</td><td>103</td><td>103</td><td>103</td><td>103</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</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>4,044</td><td>3,687</td><td>3,687</td><td>4,044</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</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>538</td><td>2</td><td>30</td><td>106</td></tr><tr><td>Government Life Insurance Fund</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>1,076</td><td>1,012</td><td>1,024</td><td>1,076</td></tr><tr><td>Government Retirement Funds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>352</td><td>268</td><td>310</td><td>352</td></tr><tr><td>National Service Life Insurance Fund</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>199</td><td>89</td><td>119</td><td>199</td></tr><tr><td>Postal Savings Systems</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>178</td><td>200</td><td>189</td><td>178</td></tr><tr><td>Railroad Retirement Account</td><td>-</td><td>-</td><td>-</td><td>312</td><td>872</td><td>1,267</td><td>1,710</td><td>2,273</td><td>3,114</td><td>4,257</td><td>7,906</td><td>4,175</td><td>4,257</td></tr><tr><td>Unemployment Trust Fund</td><td>-</td><td>-</td><td>19</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total special issues</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>10,871</td><td>9,795</td><td>10,198</td><td>10,871</td></tr><tr><td>Total interest-bearing debt</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>135,780</td><td>128,643</td><td>134,675</td><td>135,380</td></tr><tr><td>Matured debt on which interest has ceased</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>141</td><td>63</td><td>67</td><td>141</td></tr><tr><td>Debt bearing no interest:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States savings stamps</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>217</td><td>228</td><td>225</td><td>213</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>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>766</td><td>719</td><td>750</td><td>766</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>6</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>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>1,175</td><td>1,143</td><td>1,171</td><td>1,175</td></tr><tr><td>Total public debt outstanding</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>136,696</td><td>129,849</td><td>135,913</td><td>136,696</td></tr><tr><td>Securities guaranteed by the United States 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>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>206</td><td>206</td><td>407</td><td>696</td><td>701</td><td>412</td><td>701</td><td>412</td><td>412</td></tr><tr><td>Federal Farm Mortgage Corporation</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>970</td><td>930</td><td>930</td></tr><tr><td>Federal Housing Administration</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>23</td><td>23</td><td>23</td><td>23</td></tr><tr><td>Federal Public Housing Authority</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><td>114</td></tr><tr><td>Home Owners' Loan Corporation</td><td>134</td><td>2,647</td><td>3,044</td><td>2,987</td><td>2,977</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><td>1,533</td></tr><tr><td>Reconstruction Finance Corporation</td><td>235</td><td>250</td><td>252</td><td>255</td><td>299</td><td>820</td><td>1,096</td><td>1,741</td><td>1,219</td><td>1,011</td><td>986</td><td>996</td><td>1,011</td></tr><tr><td>Total marketable issues</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>4,023</td><td>4,288</td><td>4,008</td><td>4,023</td></tr><tr><td>Non-marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 2/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>68</td><td>76</td><td>74</td><td>68</td></tr><tr><td>Total interest-bearing debt</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>4,092</td><td>4,363</td><td>4,082</td><td>4,092</td></tr><tr><td>Matured debt on which interest has ceased</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>31</td><td>11</td><td>20</td><td>8</td><td>9</td><td>9</td><td>8</td></tr><tr><td>Total securities outstanding guaranteed by the United States</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>4,100</td><td>4,372</td><td>4,091</td><td>4,100</td></tr><tr><td>Total public debt and guaranteed obligations 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>Interest-bearing debt</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>139,472</td><td>133,006</td><td>138,757</td><td>139,472</td></tr><tr><td>Matured debt and debt bearing no interest</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>1,324</td><td>1,216</td><td>1,247</td><td>1,324</td></tr><tr><td>Total outstanding</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>140,796</td><td>134,221</td><td>140,003</td><td>140,796</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 1/ Excludes 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 obligatios.
29
Composition of the Interest-Bearing Public Debt
<table><tr><th rowspan="2">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>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>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>2,354</td><td>626</td><td>100.0</td><td>56.5</td><td>34.5</td><td>7.1</td><td>1.9</td></tr><tr><td>1937</td><td>35,800</td><td>21,322</td><td>10,617</td><td>2,303</td><td>1,558</td><td>100.0</td><td>59.6</td><td>29.7</td><td>6.4</td><td>4.3</td></tr><tr><td>1938</td><td>36,576</td><td>23,599</td><td>9,147</td><td>1,154</td><td>2,676</td><td>100.0</td><td>64.5</td><td>25.0</td><td>3.2</td><td>7.3</td></tr><tr><td>1939</td><td>39,886</td><td>27,566</td><td>7,243</td><td>1,308</td><td>3,770</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>1943</td><td>135,380</td><td>79,421</td><td>16,663</td><td>28,425</td><td>10,871</td><td>100.0</td><td>58.7</td><td>12.3</td><td>21.0</td><td>8.0</td></tr><tr><td>1942-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>53,580</td><td>10,428</td><td>8,573</td><td>8,266</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>15,099</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>16,247</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><tr><td>April</td><td>128,643</td><td>75,070</td><td>17,580</td><td>26,198</td><td>9,795</td><td>100.0</td><td>58.4</td><td>13.7</td><td>20.4</td><td>7.6</td></tr><tr><td>May</td><td>134,675</td><td>79,102</td><td>17,960</td><td>27,414</td><td>10,198</td><td>100.0</td><td>58.7</td><td>13.3</td><td>20.4</td><td>7.6</td></tr><tr><td>June</td><td>135,380</td><td>79,421</td><td>16,663</td><td>28,425</td><td>10,871</td><td>100.0</td><td>58.7</td><td>12.3</td><td>21.0</td><td>8.0</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="5">Receipts</th><th colspan="5">Expenditures</th><th rowspan="2">Excess of receipts</th></tr><tr><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series</th><th>Adjusted service bonds</th><th>Ex-changes</th><th>Special issues</th><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series</th><th>Ex-changes</th><th>Special issues</th></tr><tr><td>1934</td><td>13,583.0</td><td>9,160.9</td><td>-</td><td>-</td><td>4,158.5</td><td>263.7</td><td>9,068.5</td><td>4,719.5</td><td>-</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>-</td><td>6,953.7</td><td>445.9</td><td>11,477.7</td><td>4,305.1</td><td>-</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>-</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>-</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>-</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>-</td><td>1,751.4</td><td>567.0</td><td>2,046.1</td></tr><tr><td>1938</td><td>9,620.8</td><td>4,775.8</td><td>-</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>-</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>-</td><td>6.6</td><td>3,034.9</td><td>2,567.1</td><td>9,803.8</td><td>5,301.0</td><td>-</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>-</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>-</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>10,452.1</td><td>-</td><td>2.2</td><td>3,141.6</td><td>4,240.8</td><td>11,852.8</td><td>5,815.6</td><td>-</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>30,387.9</td><td>303.0</td><td>1.3</td><td>596.0</td><td>5,876.2</td><td>13,703.3</td><td>8,693.1</td><td>303.0</td><td>596.0</td><td>4,111.3</td><td>23,461.0</td></tr><tr><td>1943</td><td>122,631.9</td><td>94,960.6</td><td>17,911.0</td><td>.7</td><td>1,441.8</td><td>8,317.8</td><td>58,358.2</td><td>33,673.6</td><td>17,911.0</td><td>1,441.8</td><td>5,331.8</td><td>64,273.6</td></tr><tr><td>1942-June</td><td>9,210.9</td><td>4,911.4</td><td>303.0</td><td>.1</td><td>-</td><td>3,996.4</td><td>5,359.0</td><td>1,426.8</td><td>303.0</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>-</td><td>.1</td><td>-</td><td>268.5</td><td>563.2</td><td>534.6</td><td>-</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>-</td><td>.1</td><td>-</td><td>193.7</td><td>1,029.3</td><td>973.2</td><td>-</td><td>-</td><td>56.1</td><td>4,949.0</td></tr><tr><td>September</td><td>8,168.4</td><td>6,901.7</td><td>928.0</td><td>.1</td><td>48.6</td><td>290.0</td><td>3,370.0</td><td>2,350.6</td><td>928.0</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>-</td><td>.1</td><td>19.7</td><td>102.7</td><td>1,509.0</td><td>1,462.2</td><td>-</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>5,616.5</td><td>890.0</td><td>.1</td><td>-</td><td>225.3</td><td>3,517.9</td><td>3,028.8</td><td>468.0</td><td>-</td><td>21.2</td><td>3,211.9</td></tr><tr><td>December</td><td>15,643.1</td><td>15,110.8</td><td>259.0</td><td>-</td><td>-</td><td>273.2</td><td>3,589.0</td><td>2,879.3</td><td>681.0</td><td>-</td><td>28.7</td><td>12,054.1</td></tr><tr><td>1943-January</td><td>5,078.1</td><td>4,581.4</td><td>317.0</td><td>-</td><td>-</td><td>179.7</td><td>2,178.7</td><td>2,024.8</td><td>115.0</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>-</td><td>-</td><td>-</td><td>416.0</td><td>4,028.2</td><td>3,803.1</td><td>202.0</td><td>-</td><td>23.0</td><td>2,954.8</td></tr><tr><td>March</td><td>20,501.6</td><td>5,321.8</td><td>14,712.0</td><td>.1</td><td>-</td><td>467.7</td><td>19,018.6</td><td>4,277.1</td><td>14,712.0</td><td>-</td><td>29.5</td><td>1,483.0</td></tr><tr><td>April</td><td>17,620.0</td><td>17,526.5</td><td>-</td><td>-</td><td>-</td><td>93.5</td><td>3,277.7</td><td>2,975.5</td><td>-</td><td>-</td><td>302.2</td><td>14,342.3</td></tr><tr><td>May</td><td>10,043.3</td><td>8,854.9</td><td>-</td><td>-</td><td>1,373.5</td><td>414.9</td><td>4,579.7</td><td>3,194.7</td><td>-</td><td>1,373.5</td><td>11.5</td><td>6,063.6</td></tr><tr><td>June</td><td>12,480.3</td><td>6,280.6</td><td>805.0</td><td>.1</td><td>-</td><td>5,394.7</td><td>11,696.8</td><td>6,169.7</td><td>805.0</td><td>-</td><td>4,722.1</td><td>783.5</td></tr></table>
Source: Daily Treasury Statements. Less than $50,000.
1/ Excludes certificates of indebtedness, special series.
COMPOSITION OF UNITED STATES GOVERNMENT INTEREST - BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS
30
31
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 June 30, 1943
<table><tr><td>Total face amount which may be outstanding at any one time</td><td>$210,000,000,000</td></tr><tr><td>Face amount outstanding as of June 30, 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>$57,520,467,900</td></tr><tr><td>Savings (maturity value) 1/</td><td>26,195,158,550</td></tr><tr><td>Depositary</td><td>226,165,250</td></tr><tr><td>Adjusted Service</td><td>722,060,157</td></tr><tr><td>Total bonds</td><td>$84,663,851,857</td></tr><tr><td>Treasury notes</td><td>22,758,889,525</td></tr><tr><td>Certificates of indebtedness</td><td>20,836,685,000</td></tr><tr><td>Treasury bills (maturity value)</td><td>11,863,911,000</td></tr><tr><td>Total interest-bearing securities</td><td>$140,123,337,382</td></tr><tr><td>Matured obligations on which interest has ceased</td><td>132,396,425</td></tr><tr><td>Debt bearing no interest (United States savings stamps)</td><td>213,349,935</td></tr><tr><td>Total face amount of securities outstanding</td><td>140,469,083,742</td></tr><tr><td>Total amount of authorisation unused as of June 30, 1943</td><td>$ 69,530,916,258</td></tr></table>
1/ Approximate maturity value. The current redemption value of United States savings bonds amounted to $21,256,166,543 on June 30, 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 June 30, 1943
<table><tr><td>Gross public debt outstanding.</td><td></td><td>$136,696,090,330</td></tr><tr><td>Total face amount of securities outstanding limited by Section 21 of the Second Liberty Bond Act, as amended.</td><td>$140,469,083,742</td><td></td></tr><tr><td>Less: Unearned discount on savings bonds (difference between maturity value and current redemption value).</td><td>4,938,992,007</td><td>$135,530,091,735</td></tr><tr><td>Add: Securities outstanding not subject to limitation under Section 21:</td><td></td><td></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>8,103,665</td><td></td></tr><tr><td>Debt bearing no interest.</td><td>961,934,510</td><td>1,165,998,595</td></tr><tr><td>Gross public debt outstanding.</td><td></td><td>$136,696,090,330</td></tr></table>
32
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 rowspan="2">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>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>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>1943</td><td>139,472</td><td>2,759</td><td>1.978</td><td>135,380</td><td>2,679</td><td>1.979</td><td>4,092</td><td>81</td><td>1.968</td></tr><tr><td>1942-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><tr><td>April</td><td>133,006</td><td>2,651</td><td>1.993</td><td>128,643</td><td>2,569</td><td>1.997</td><td>4,363</td><td>82</td><td>1.890</td></tr><tr><td>May</td><td>138,757</td><td>2,763</td><td>1.992</td><td>134,675</td><td>2,683</td><td>1.992</td><td>4,082</td><td>80</td><td>1.970</td></tr><tr><td>June</td><td>139,472</td><td>2,759</td><td>1.978</td><td>135,380</td><td>2,679</td><td>1.979</td><td>4,092</td><td>81</td><td>1.968</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 savings
bonds, Series A-E are considered to yield 2.90 percent per annum and Series F is considered to yield 2.53 percent. Excludes securities guaranteed by the United States which were sold directly to the Treasury. Consists only of securities guaranteed by the United States as to both principal and interest.
33
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of June 30, 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 bills</td><td>11,864</td><td></td><td></td><td></td><td></td></tr><tr><td>July</td><td>1-1/8% RFC note V - 7/15/43</td><td>324</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>7/8% Ctf. of ind.deb. B - 8/1/43</td><td>1,609</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1% Treasury note C - 9/15/43</td><td>279</td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>3-1/4% Treasury bond - 10/15/43-45</td><td>1,401</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>7/8% Ctf. of ind.deb. D - 11/1/43</td><td>2,035</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>7/8% Ctf. of ind.deb. E - 12/1/43</td><td>3,800</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/8% Treasury note B - 12/15/43</td><td>421</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>21,734</td><td></td><td></td><td>21,734</td><td>21,734</td></tr><tr><td>1944-Feb.</td><td>1-3/8% PPHA note B - 2/1/44</td><td>114</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>7/8% Ctf. of ind.deb. A - 2/1/44</td><td>2,211</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1% Treasury note B - 3/15/44</td><td>515</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3-1/4% FPMC bond - 3/15/44-64</td><td></td><td>95</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>7/8% Ctf. of ind.deb. B - 4/1/44</td><td>5,251</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>1% RFC note V - 4/15/44</td><td>571</td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>3-1/4% Treasury bond - 4/15/44-46</td><td></td><td>1,519</td><td></td><td></td><td></td></tr><tr><td>May</td><td>7/8% Ctf. of ind.deb. C - 5/1/44</td><td>1,655</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% HOLC bond A - 5/1/44-52</td><td></td><td>779</td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% FPMC bond - 5/15/44-49</td><td></td><td>835</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3/4% Treasury note A - 6/15/44</td><td>416</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>1% Treasury note C - 9/15/44</td><td>283</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3/4% Treasury note D - 9/15/44</td><td>635</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1% Treasury bond - 12/15/44-54</td><td></td><td>1,037</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>11,651</td><td>4,264</td><td></td><td>15,915</td><td>11,651</td></tr><tr><td>1945-Jan.</td><td>1% RFC note I-A - 1/1/45</td><td>115</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>1-1/8% CCC note Q - 2/15/45</td><td>412</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3/4% Treasury note A - 3/15/45</td><td>718</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1-1/4% Treasury note C - 3/15/45</td><td>1,606</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% HOLC bond M - 6/1/45-47</td><td></td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond - 9/15/45-47</td><td></td><td>1,214</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond - 12/15/45</td><td>541</td><td></td><td></td><td></td><td></td></tr><tr><td>Deco.</td><td>3/4% Treasury note E - 12/15/45</td><td>531</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>3,922</td><td>1,969</td><td></td><td>5,891</td><td>3,922</td></tr><tr><td>1946-Jan.</td><td>3% Conversion bond - 1/1/46</td><td>16</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1% Treasury note A - 3/15/46</td><td>503</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3-3/4% Treasury bond - 3/15/46-56</td><td></td><td>489</td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>3-1/4% Treasury bond - 4/15/46-46</td><td></td><td>1,519</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond - 6/15/46-48</td><td></td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3-1/8% Treasury bond - 6/15/46-49</td><td></td><td>819</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/2% Treasury note B - 12/15/46</td><td>3,261</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>3,780</td><td>2,344</td><td>1,519</td><td>6,124</td><td>5,299</td></tr><tr><td>1947-Jan.</td><td>3% Conversion bond - 1/1/47</td><td>13</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% HOLC bond M - 6/1/45-47</td><td></td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond - 9/15/45-47</td><td></td><td>1,214</td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond - 10/15/47-52</td><td></td><td>759</td><td></td><td></td><td></td></tr><tr><td>Deco.</td><td>2% Treasury bond - 12/15/47</td><td>701</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>714</td><td>759</td><td>1,969</td><td>1,473</td><td>2,683</td></tr><tr><td>1948-Mar.</td><td>2% Treasury bond - 3/15/48-50</td><td></td><td>1,115</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2-3/4% Treasury bond - 3/15/48-51</td><td></td><td>1,223</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond - 6/15/46-48</td><td></td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-3/4% Treasury bond - 6/15/48</td><td>3,062</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond - 9/15/48</td><td>451</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/48-50</td><td></td><td>571</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td>3,513</td><td>2,910</td><td>1,036</td><td>6,423</td><td>4,549</td></tr><tr><td>1949-May.</td><td>3% FPMC bond - 5/15/44-49</td><td></td><td>835</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3-1/8% Treasury bond - 6/15/46-49</td><td></td><td>619</td><td></td><td></td><td></td></tr><tr><td>June</td><td>2% Treasury bond - 6/15/49-51</td><td></td><td>1,014</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2% Treasury bond - 9/15/49-51</td><td></td><td>1,292</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3-1/8% Treasury bond - 12/15/49-52</td><td></td><td>491</td><td></td><td></td><td></td></tr><tr><td>Deco.</td><td>2-1/2% Treasury bond - 12/15/49-53</td><td></td><td>1,786</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>6,682</td><td>1,654</td><td>6,682</td><td>1,654</td></tr><tr><td>1950-Mar.</td><td>2% Treasury bond - 3/15/48-50</td><td></td><td>1,115</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2% Treasury bond - 3/15/50-52</td><td></td><td>1,963</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond - 9/15/50-52</td><td></td><td>1,186</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2% Treasury bond - 9/15/50-52</td><td></td><td>4,939</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond - 12/15/48-50</td><td></td><td>571</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>8,088</td><td>1,687</td><td>8,088</td><td>1,687</td></tr></table>
(Continued on following page)
34
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of June 30, 1943 - (Continued)
(In millions of dollars)
<table><tr><th>Year and month</th><th>Description of security 2/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th></th><th></th><th>Fixed-maturity issues</th><th colspan="2">Callable issues classified by year of:</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><th></th><th></th><th></th><th>First call</th><th>Final maturity</th><th></th><th></th></tr><tr><td>1951-Mar....</td><td>2-3/4% Treasury bond</td><td>- 3/15/49-51</td><td></td><td>1.223</td><td></td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>- 6/15/49-51</td><td>1.627</td><td>1.014</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>- 6/15/51-54</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>- 9/15/49-51</td><td></td><td>1.292</td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond</td><td>- 9/15/51-55</td><td>755</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>- 12/15/51-53</td><td>1,118</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>- 12/15/51-55</td><td>510</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>- 12/15/49-51</td><td></td><td>2,098</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>4,011</td><td>5,628</td><td>4,011</td><td>5,628</td></tr><tr><td>1952-Mar....</td><td>2-1/2% Treasury bond</td><td>- 3/15/52-54</td><td>1,024</td><td></td><td></td><td></td></tr><tr><td>Mar....</td><td>2% Treasury bond</td><td>- 3/15/50-52</td><td></td><td>1,963</td><td></td><td></td></tr><tr><td>May....</td><td>3% EOLC bond A</td><td>- 5/1/44-52</td><td></td><td>779</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>- 6/15/52-55</td><td>1,501</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>- 9/15/50-52</td><td></td><td>1,186</td><td></td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>- 9/15/50-52</td><td></td><td>4,939</td><td></td><td></td></tr><tr><td>Oct....</td><td>4-1/4% Treasury bond</td><td>- 10/15/47-52</td><td></td><td>759</td><td></td><td></td></tr><tr><td>Dec....</td><td>3-1/8% Treasury bond</td><td>- 12/15/49-52</td><td></td><td>491</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>2,524</td><td>10,117</td><td>2,524</td><td>10,117</td></tr><tr><td>1953-June....</td><td>2% Treasury bond</td><td>- 6/15/53-55</td><td>725</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>- 12/15/49-53</td><td></td><td>1,786</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>- 12/15/51-53</td><td></td><td>1,118</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>725</td><td>2,904</td><td>725</td><td>2,904</td></tr><tr><td>1954-Mar....</td><td>2-1/2% Treasury bond</td><td>- 3/15/52-54</td><td></td><td>1,024</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>- 6/15/51-54</td><td></td><td>1,627</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>- 6/15/54-56</td><td>681</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>4% Treasury bond</td><td>- 12/15/44-54</td><td></td><td>1,037</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>681</td><td>3,687</td><td>681</td><td>3,687</td></tr><tr><td>1955-Mar....</td><td>2-7/8% Treasury bond</td><td>- 3/15/55-60</td><td>2,611</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>- 6/15/52-55</td><td></td><td>1,501</td><td></td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>- 6/15/53-55</td><td></td><td>725</td><td></td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond</td><td>- 9/15/51-55</td><td></td><td>759</td><td></td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>- 12/15/51-55</td><td></td><td>510</td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>2,611</td><td>3,491</td><td>2,611</td><td>3,491</td></tr><tr><td>1956-Mar....</td><td>3-3/4% Treasury bond</td><td>- 3/15/46-56</td><td></td><td>489</td><td></td><td></td></tr><tr><td>Mar....</td><td>2-1/2% Treasury bond</td><td>- 3/15/56-58</td><td>1,449</td><td></td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>- 6/15/54-56</td><td></td><td>681</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treasury bond</td><td>- 9/15/56-59</td><td>982</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>2,431</td><td>1,170</td><td>2,431</td><td>1,170</td></tr><tr><td>1957....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1958-Mar....</td><td>2-1/2% Treasury bond</td><td>- 3/15/56-58</td><td></td><td>1,449</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>- 6/15/58-63</td><td>919</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>919</td><td>1,449</td><td>919</td><td>1,449</td></tr><tr><td>1959-Sept....</td><td>2-3/4% Treasury bond</td><td>- 9/15/56-59</td><td></td><td>982</td><td></td><td></td></tr><tr><td>1960-Mar....</td><td>2-7/8% Treasury bond</td><td>- 3/15/55-60</td><td></td><td>2,611</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-3/4% Treasury bond</td><td>- 12/15/60-65</td><td>1,485</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>1,485</td><td>2,611</td><td>1,485</td><td>2,611</td></tr><tr><td>1961-June....</td><td>3% Panama Canal bond</td><td>- 6/1/61</td><td>50</td><td></td><td>50</td><td></td></tr><tr><td>1962-June....</td><td>2-1/2% Treasury bond</td><td>- 6/15/62-67</td><td>2,118</td><td></td><td>2,118</td><td></td></tr><tr><td>1963-June....</td><td>2-3/4% Treasury bond</td><td>- 6/15/58-63</td><td></td><td>919</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>- 12/15/63-68</td><td>2,831</td><td></td><td>2,831</td><td></td></tr><tr><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% YMC bond</td><td>- 3/15/44-64</td><td></td><td>95</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/2% Treasury bond</td><td>- 6/15/64-69</td><td>3,762</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>3,762</td><td>95</td><td>3,762</td><td>95</td></tr><tr><td>1965-Dec....</td><td>2-3/4% Treasury bond</td><td>- 12/15/60-65</td><td></td><td>1,485</td><td></td><td></td></tr><tr><td>1966....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1967-June....</td><td>2-1/2% Treasury bond</td><td>- 6/15/62-67</td><td></td><td>2,118</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>- 9/15/67-72</td><td>2,716</td><td></td><td></td><td></td></tr><tr><td>Total....</td><td></td><td></td><td>2,716</td><td>2,118</td><td>2,716</td><td>2,118</td></tr><tr><td>1968-Dec....</td><td>2-1/2% Treasury bond</td><td>- 12/15/63-68</td><td></td><td>2,831</td><td></td><td></td></tr><tr><td>1969-June....</td><td>2-1/2% Treasury bond</td><td>- 6/15/64-69</td><td></td><td>3,762</td><td></td><td></td></tr><tr><td>1970....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1971....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1972-Sept....</td><td>2-1/2% Treasury bond</td><td>- 9/15/67-72</td><td></td><td>2,716</td><td></td><td>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.
35
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
Since January 1, 1940
(In millions of dollars)
<table><tr><th rowspan="2">Date of announcement</th><th rowspan="2">Date of financing</th><th colspan="7">Description of new Treasury security 2/</th><th colspan="3">Amount issued</th><th rowspan="2">Public cash sub- scrip- tion tendered</th><th colspan="4">Description of security refunded</th></tr><tr><th>Date of issue</th><th colspan="2">Coupon rate (percent)</th><th>Call and maturity dates</th><th colspan="2">Term</th><th rowspan="2">Total</th><th colspan="2">For cash</th><th>For ex- change</th><th>Class of security</th><th>Coupon rate (per- cent)</th><th>Call and maturity date</th><th>Date of original issue</th></tr><tr><th></th><th></th><th>Notes</th><th>Bonds</th><th>Yrs.</th><th>Moe.</th><th>Yrs.</th><th>Moe.</th><th>Public</th><th>Go-vern-ment accounts 3/</th><th></th><th></th><th></th><th></th><th></th></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>-</td><td>5</td><td>-</td><td>718</td><td>-</td><td>-</td><td>718</td><td>-</td><td>Trees.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>-</td><td>3</td><td>3</td><td>279</td><td>-</td><td>-</td><td>279</td><td>-</td><td>Trees.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>6/15/51-56</td><td>13</td><td>10-3/4</td><td>15</td><td>10-3/4</td><td>681</td><td>631</td><td>50</td><td>-</td><td>6,605</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/25</td><td>10/7</td><td>10/7/40</td><td>-</td><td>2</td><td>6/15/53-55</td><td>12</td><td>8-1/4</td><td>14</td><td>8-1/4</td><td>725</td><td>-</td><td>-</td><td>725</td><td>-</td><td>Trees.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>-</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 to 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 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>Trees,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>-</td><td>482</td><td>-</td><td>Trees,note</td><td>1-1/2</td><td>3/15/41</td><td>3/16/31</td></tr><tr><td>3/19</td><td>3/31</td><td>3/15/41 4/3/31/41</td><td>3/4 T</td><td>-</td><td>2-1/2</td><td>T</td><td>3/15/43</td><td>-</td><td>2</td><td>-</td><td>33</td><td>-</td><td>-</td><td>634</td><td>-</td><td>Trees,note</td><td>1-1/2</td><td>3/15/41</td><td>3/16/36</td></tr><tr><td>5/22</td><td>6/2</td><td>3/15/41 6/2/41</td><td>3/4 T</td><td>-</td><td>2-1/2</td><td>T</td><td>3/15/43</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>6,145</td><td>Trees,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</td><td>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>1</td><td>8,268</td><td>Trees,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>-</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>Trees,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 10/20/41 4</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 5/203 5/</td><td>4,728</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></td><td>-</td><td>2-1/2</td><td>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>6,979</td><td>CCC note</td><td>1</td><td>11/15/41</td><td>11/2/39</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<br>308 5/<br>205 5/<br>96 5/</td><td>-</td><td>Treas.note<br>RFC note<br>PFMC bond</td><td>1-3/4<br>1/8<br>3</td><td>3/15/42<br>1/15/42-47<br>1/15/42-47</td><td>6/15/37<br>2/15/39<br>1/15/35<br>3/1/35</td></tr><tr><td>2/13<br>4/6<br>5/4<br>5/14</td><td>2/25<br>4/15<br>5/5<br>5/15</td><td>2/25/42<br>4/15/42<br>5/5/42<br>5/15/42</td><td>-1/2 T6/-</td><td>2-1/4<br>2-1/2</td><td>T</td><td>6/15/52-55<br>11/1/42<br>6/15/62-67<br>9/15/49-51</td><td>10<br>20<br>7</td><td>3-2/3<br>1-1/3<br>4</td><td>13<br>25<br>9</td><td>3-2/3<br>1-1/3<br>4</td><td>1,511<br>1,507<br>1,292</td><td>1,511<br>1,507<br>1,292</td><td>-</td><td>-</td><td>4,697<br>3,062<br>3,283</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>1-1/2T</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<br>272</td><td>-</td><td>HOLC bond<br>RFC note</td><td>2-1/4<br>1</td><td>7/1/42-44<br>7/1/42</td><td>7/1/35<br>11/10/39</td></tr><tr><td>6/18<br>7/8<br>8/3<br>8/6<br>9/10<br>9/10<br>10/8<br>10/26</td><td>6/25<br>7/15<br>8/13<br>8/15<br>9/21<br>9/25<br>10/15<br>10/19<br>11/2</td><td>6/25/42<br>7/15/42<br>5/5/42 4/<br>7/8 T6/<br>65 T6/<br>1-1/4T<br>1-1/2T<br>7/8 T6/-</td><td>5/8 T6/-<br>2-1/2 T</td><td>2<br>2-1/2</td><td>T</td><td>2/1/43<br>12/15/49-51<br>6/15/62-67<br>8/1/43<br>5/1/43<br>3/15/45<br>12/15/46<br>3/15/50-52<br>11/1/43</td><td>7<br>20<br>7<br>-</td><td>5<br>1-1/3<br>5</td><td>9<br>25<br>1</td><td>7<br>11-1/2<br>1</td><td>1,588<br>2,098<br>1,236<br>1,609<br>1,506<br>1,606<br>2,142<br>1,963<br>2,035</td><td>1,588<br>2,098<br>1,236<br>1,609<br>1,506<br>1,606<br>2,142<br>1,963<br>2,035</td><td>-</td><td>3,114<br>3,849<br>1,236<br>3,273<br>1,992<br>3,637<br>2,142<br>1,963<br>3,105</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1/2<br>11/1/42<br>4/15/42</td></tr><tr><td>11/30<br>11/30<br>11/30</td><td>12/1<br>12/1<br>12/1</td><td>12/1/42<br>12/1/42<br>12/1/42</td><td>-<br>7/8 T6/-</td><td>2-1/2<br>1-3/4</td><td>T</td><td>12/15/63-68<br>6/15/48<br>12/1/43</td><td>21<br>-</td><td>1/2<br>-</td><td>26<br>5</td><td>1/2<br>6-1/2</td><td>2,831<br>3,062<br>3,800</td><td>2,831<br>3,062<br>3,800</td><td>-</td><td>-</td><td>2,831<br>3,364<br>5,184</td><td>Ctr. of indebtedness</td><td>1/2</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 6/</td><td>-</td><td>2/1/44</td><td>-</td><td>-</td><td>1</td><td>-</td><td>2,211</td><td>2,211</td><td>-</td><td>-</td><td>6,402</td><td>Ctr. of indebtedness</td><td>5/8</td><td>2/1/43</td><td>6/25/42</td></tr><tr><td>4/12</td><td>4/15</td><td>4/15/43</td><td>-</td><td>2 T</td><td>9/15/50-52</td><td>7</td><td>5</td><td>9</td><td>5</td><td>4,939</td><td>4,939</td><td>-</td><td>-</td><td>12,757</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4/12</td><td>4/15</td><td>4/15/43</td><td>-</td><td>2-1/2 T</td><td>6/15/64-69</td><td>21</td><td>2</td><td>26</td><td>2</td><td>3,762</td><td>3,762</td><td>-</td><td>-</td><td>3,761</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4/12</td><td>4/15</td><td>4/15/43</td><td>7/8 T 6/</td><td>-</td><td>4/1/44</td><td>-</td><td>-</td><td>-</td><td>11-1/2</td><td>5,251</td><td>5,251</td><td>-</td><td>-</td><td>12,895</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>4/19</td><td>5/1</td><td>5/1/43</td><td>7/8 T 6/</td><td>-</td><td>5/1/44</td><td>-</td><td>-</td><td>2</td><td>-</td><td>1,655</td><td>-</td><td>-</td><td>1,373 5/</td><td>-</td><td>Ctr. of indebtedness</td><td>.65</td><td>5/1/43</td><td>9/21/42</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>282 5/</td><td>-</td><td>CCC note</td><td>3/4</td><td>5/1/43</td><td>8/1/40</td></tr><tr><td>6/28</td><td>7/12</td><td>7/12/43</td><td>1-1/2 T</td><td>-</td><td>9/15/47</td><td>-</td><td>-</td><td>4</td><td>2</td><td>2,707 p</td><td>2,707 p</td><td>-</td><td>-</td><td>19,544</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Back Figures: For period between July 1, 1932 and December 31, 1939 see Annual Report of the Secretary of the Treasury for 1940, pp. 53-54. T Taxable issue. p Preliminary. 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 84.
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 par of security already outstanding. 5/ Proceeds of payment of refunded security applied to payment for new issue - in effect an exchange and so treated in this statement. 6/ Certificate of indebtedness. 7/ Issued primarily for refunding maturing security.
36
Offerings and Maturities of Treasury Bills, Beginning June 1, 1942
<table><tr><th rowspan="2">Date of new issue or of maturity of old issue</th><th colspan="7">Data on new issues</th><th colspan="2">Total bills outstanding (as of date shown in first column)</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of onash subscriptions tendered (In millions of dollars)</th><th colspan="3">Bids accepted</th><th>Amount of maturing issue (In millions of dollars)</th><th>(In millions of dollars)</th></tr><tr><th></th><th></th><th></th><th></th><th>Amount (In millions of dollars)</th><th>Average price per hundred</th><th>Equivalent average rate 1/ (Percent)</th><th></th><th></th></tr><tr><td>1942-June 3</td><td>1942-Sept. 2</td><td>91</td><td>496.6</td><td>251.3</td><td>99.908</td><td>0.365</td><td>150.5</td><td>2,357.4</td></tr><tr><td>June 10</td><td>Sept. 9</td><td>91</td><td>690.3</td><td>300.8</td><td>99.907</td><td>0.366</td><td>150.2</td><td>2,508.0</td></tr><tr><td>June 16</td><td>Sept. 16</td><td>91</td><td>601.3</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>150.4</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>Sept. 17</td><td>85</td><td>712.6</td><td>301.1</td><td>99.914</td><td>0.362</td><td>150.9</td><td>2,207.2</td></tr><tr><td>June 24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</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>92</td><td>645.2</td><td>350.3</td><td>99.907</td><td>0.370</td><td>150.1</td><td>3,663.3</td></tr><tr><td>Aug. 5</td><td>Nov. 4</td><td>91</td><td>583.0</td><td>352.6</td><td>99.906</td><td>0.372</td><td>150.4</td><td>3,865.5</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>3,965.5</td></tr><tr><td>Aug. 19</td><td>Nov. 18</td><td>91</td><td>711.5</td><td>352.4</td><td>99.906</td><td>0.372</td><td>251.7</td><td>4,066.2</td></tr><tr><td>Aug. 26</td><td>Nov. 25</td><td>91</td><td>891.6</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>0.357</td><td>251.3</td><td>4,257.7</td></tr><tr><td>Sept. 9</td><td>Dec. 9</td><td>91</td><td>709.8</td><td>351.2</td><td>99.907</td><td>0.368</td><td>300.8</td><td>4,312.2</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>370.3</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>504.8</td><td>99.907</td><td>0.367</td><td>351.2</td><td>6,027.3</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>1,280.8</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. 6</td><td>Apr. 7</td><td>91</td><td>1,242.6</td><td>600.1</td><td>99.930</td><td>0.377</td><td>400.2</td><td>6,827.4</td></tr><tr><td>Jan. 13</td><td>Apr. 14</td><td>91</td><td>1,288.7</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>1,016.7</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>707.6</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>1,094.7</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>1,389.9</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><tr><td>Apr. 7</td><td>July 7</td><td>91</td><td>1,104.1</td><td>804.7</td><td>99.905</td><td>0.374</td><td>600.1</td><td>9,439.4</td></tr><tr><td>Apr. 14</td><td>July 14</td><td>91</td><td>1,389.6</td><td>804.0</td><td>99.906</td><td>0.373</td><td>501.5</td><td>9,641.9</td></tr><tr><td>Apr. 21</td><td>July 21</td><td>91</td><td>1,622.3</td><td>904.7</td><td>99.906</td><td>0.371</td><td>701.5</td><td>9,845.0</td></tr><tr><td>Apr. 28</td><td>July 28</td><td>91</td><td>1,585.8</td><td>901.8</td><td>99.906</td><td>0.372</td><td>702.2</td><td>10,044.4</td></tr><tr><td>May 5</td><td>Aug. 4</td><td>91</td><td>1,388.6</td><td>901.8</td><td>99.906</td><td>0.373</td><td>701.9</td><td>10,244.5</td></tr><tr><td>May 12</td><td>Aug. 12</td><td>92</td><td>1,509.3</td><td>907.0</td><td>99.905</td><td>0.372</td><td>707.8</td><td>10,443.6</td></tr><tr><td>May 19</td><td>Aug. 19</td><td>92</td><td>1,566.7</td><td>907.8</td><td>99.905</td><td>0.373</td><td>703.0</td><td>10,648.4</td></tr><tr><td>May 26</td><td>Aug. 26</td><td>92</td><td>1,378.7</td><td>905.4</td><td>99.905</td><td>0.373</td><td>700.8</td><td>10,852.9</td></tr><tr><td>June 2</td><td>Sept. 2</td><td>92</td><td>1,321.6</td><td>906.0</td><td>99.905</td><td>0.374</td><td>701.3</td><td>11,057.7</td></tr><tr><td>June 9</td><td>Sept. 9</td><td>92</td><td>1,437.2</td><td>908.7</td><td>99.904</td><td>0.374</td><td>705.3</td><td>11,261.1</td></tr><tr><td>June 16</td><td>Sept. 16</td><td>92</td><td>1,405.5</td><td>1,000.5</td><td>99.905</td><td>0.374</td><td>802.2</td><td>11,459.4</td></tr><tr><td>June 23</td><td>Sept. 23</td><td>92</td><td>1,374.6</td><td>1,006.1</td><td>99.904</td><td>0.374</td><td>802.1</td><td>11,663.4</td></tr><tr><td>June 30</td><td>Sept. 30</td><td>92</td><td>1,305.6</td><td>1,005.8</td><td>99.904</td><td>0.374</td><td>805.1</td><td>11,863.9</td></tr></table>
Source: Data on new issues come from Public Debt Service; amount of maturing issues and total bills outstanding are on Daily Treasury Statement basis.
Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Back discount basis.
37
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">Analysis of net change</th><th colspan="3">Redemptions</th></tr><tr><th>Total funds received</th><th>Gross sales Adjustment of sales reported to funds received 2/</th><th>Sales reported 2/</th><th>Accrual of redemption values</th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr><tr><td colspan="10">All series 4/</td></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>1,858.1</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>+1,036.5</td><td>1,108.7</td><td>-</td><td>1,108.7</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.4</td></tr><tr><td>1941</td><td>4,314.0</td><td>+1,409.3</td><td>1,492.4</td><td>-65.1</td><td>1,557.5</td><td>65.0</td><td>148.1</td><td>142.8</td><td>5.3</td></tr><tr><td>1942</td><td>10,188.2</td><td>+5,874.2</td><td>5,994.1</td><td>-12.8</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>1943</td><td>21,256.2</td><td>+11,068.0</td><td>11,788.7</td><td>+109.4 p</td><td>11,679.3 p</td><td>127.6</td><td>848.3</td><td>5/</td><td>5/</td></tr><tr><td>1942-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>+889.7</td><td>900.9</td><td>-3.3</td><td>904.2</td><td>14.3</td><td>25.5</td><td>25.0</td><td>.5</td></tr><tr><td>August</td><td>11,751.2</td><td>+673.3</td><td>697.3</td><td>+27.3</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</td><td>827.4</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</td><td>804.3</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</td><td>726.1</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</td><td>1,038.1</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</td><td>1,233.2</td><td>18.8</td><td>63.0</td><td>62.4</td><td>.6</td></tr><tr><td>February</td><td>17,067.5</td><td>+821.4</td><td>887.2</td><td>+7</td><td>886.5</td><td>10.5</td><td>76.4</td><td>75.8</td><td>.6</td></tr><tr><td>March</td><td>17,890.7</td><td>+823.2</td><td>944.3</td><td>+6.7</td><td>937.5</td><td>10.2</td><td>131.2</td><td>130.5</td><td>.7</td></tr><tr><td>April</td><td>19,267.0</td><td>+1,376.3</td><td>1,469.7</td><td>-75.5</td><td>1,545.2</td><td>9.4</td><td>102.8</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>20,507.4</td><td>+1,240.4</td><td>1,335.0</td><td>+75.5</td><td>1,259.5</td><td>9.4</td><td>104.0</td><td>5/</td><td>5/</td></tr><tr><td>June</td><td>21,256.2</td><td>+748.8</td><td>875.5</td><td>+28.1 p</td><td>847.4 p</td><td>14.4</td><td>141.1</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series A-D</td></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>1,858.1</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>+1,036.5</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>1943</td><td>3,608.0</td><td>+3.8</td><td>.1</td><td>-</td><td>.1</td><td>92.0</td><td>88.2</td><td>5/</td><td>5/</td></tr><tr><td>1942-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>7.0</td><td>.6</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>6.4</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>7.0</td><td>.6</td></tr><tr><td>April</td><td>3,608.1</td><td>-1.0</td><td>*</td><td>-</td><td>*</td><td>6.3</td><td>7.3</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>3,606.8</td><td>-1.3</td><td>*</td><td>-</td><td>*</td><td>5.2</td><td>6.5</td><td>5/</td><td>5/</td></tr><tr><td>June</td><td>3,608.0</td><td>+1.2</td><td>*</td><td>-</td><td>*</td><td>7.5</td><td>6.3</td><td>5/</td><td>5/</td></tr></table>
(Continued on following page)
38
Sales of United States Savings Bonds - (Continued)
Table 1.- Summary, by Series - (Continued)
(Is 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</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>
Series E
<table><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>60.0</td><td>60.0</td><td>-</td></tr><tr><td>1942</td><td>3,670.8</td><td>+3,457.7</td><td>3,586.3</td><td>-15.0</td><td>3,541.3</td><td>1.5</td><td>686.6</td><td>688.0</td><td>.6</td></tr><tr><td>1943</td><td>11,286.6</td><td>+7,615.8</td><td>6,271.3</td><td>+89.0 p</td><td>8,182.3 p</td><td>33.1</td><td></td><td></td><td></td></tr><tr><td>1942-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>5,088.8</td><td>+488.0</td><td>509.9</td><td>-35.3</td><td>545.1</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</td><td>585.6</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</td><td>542.6</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</td><td>745.6</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</td><td>811.7</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</td><td>712.7</td><td>2.7</td><td>116.6</td><td>116.5</td><td>.1</td></tr><tr><td>April</td><td>9,796.0</td><td>+922.1</td><td>1,006.8</td><td>-23.6</td><td>1,030.6</td><td>3.0</td><td>87.7</td><td>87.6</td><td>.1</td></tr><tr><td>May</td><td>10,709.0</td><td>+913.0</td><td>995.2</td><td>+27.5</td><td>967.8</td><td>4.2</td><td>86.5</td><td>86.4</td><td>.1</td></tr><tr><td>June</td><td>11,286.6</td><td>+577.6</td><td>696.2</td><td>+25.7 p</td><td>670.5 p</td><td>6.5</td><td>125.1</td><td>125.0</td><td>.1</td></tr></table>
Series F
<table><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>698.9</td><td>+52.3</td><td>h34.9</td><td>-2.0</td><td>h37.0</td><td>.2</td><td>2.9</td><td>2.9</td><td>*</td></tr><tr><td>1943</td><td>1,242.3</td><td>+743.4</td><td>757.9</td><td>+7.9 p</td><td>750.0 p</td><td>2.5</td><td>17.0</td><td>5/</td><td>5/</td></tr><tr><td>1942-June</td><td>698.9</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</td><td>65.1</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>1.6</td><td>*</td></tr><tr><td>February</td><td>976.6</td><td>+46.8</td><td>46.3</td><td>-2.6</td><td>50.9</td><td>.2</td><td>1.7</td><td>1.7</td><td>*</td></tr><tr><td>March</td><td>1,018.8</td><td>+42.2</td><td>43.9</td><td>+2</td><td>43.7</td><td>.2</td><td>1.8</td><td>1.8</td><td>*</td></tr><tr><td>April</td><td>1,126.5</td><td>+107.7</td><td>109.5</td><td>-11.3</td><td>120.8</td><td>-</td><td>1.8</td><td>5/</td><td>5/</td></tr><tr><td>May</td><td>1,209.5</td><td>+83.1</td><td>85.9</td><td>+14.0</td><td>71.9</td><td>*</td><td>2.8</td><td>5/</td><td>5/</td></tr><tr><td>June</td><td>1,242.3</td><td>+32.8</td><td>35.1</td><td>-2.6 p</td><td>37.7 p</td><td>.4</td><td>2.8</td><td>5/</td><td>5/</td></tr></table>
Series Q
<table><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>1943</td><td>5,119.2</td><td>+2,704.9</td><td>2,759.5</td><td>+12.5</td><td>2,747.0</td><td>-</td><td>54.5</td><td>54.5</td><td>-</td></tr><tr><td>1942-June</td><td>2,414.3</td><td>+157.4</td><td>159.7</td><td>-7.5</td><td>167.2</td><td>-</td><td>2.3</td><td>2.3</td><td>-</td></tr><tr><td>July</td><td>2,730.8</td><td>+316.5</td><td>319.1</td><td>-9.4</td><td>328.4</td><td>-</td><td>2.5</td><td>2.5</td><td>-</td></tr><tr><td>August</td><td>2,918.5</td><td>+187.6</td><td>191.0</td><td>+10.0</td><td>181.1</td><td>-</td><td>3.4</td><td>3.4</td><td>-</td></tr><tr><td>September</td><td>3,099.7</td><td>+181.3</td><td>184.0</td><td>-29.0</td><td>213.0</td><td>-</td><td>2.8</td><td>2.8</td><td>-</td></tr><tr><td>October</td><td>3,306.1</td><td>+206.4</td><td>209.6</td><td>+40.4</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</td><td>141.6</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</td><td>227.4</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>345.4</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>-1.1</td><td>206.4</td><td>-</td><td>5.0</td><td>5.0</td><td>-</td></tr><tr><td>March</td><td>4,385.9</td><td>+174.8</td><td>180.0</td><td>-1.2</td><td>181.2</td><td>-</td><td>5.2</td><td>5.2</td><td>-</td></tr><tr><td>April</td><td>4,736.4</td><td>+347.3</td><td>353.4</td><td>-40.3 r</td><td>395.8</td><td>-</td><td>5.9</td><td>5.9</td><td>-</td></tr><tr><td>May</td><td>4,982.0</td><td>+245.6</td><td>253.9</td><td>+34.0</td><td>219.6</td><td>-</td><td>8.2</td><td>8.2</td><td>-</td></tr><tr><td>June</td><td>5,119.2</td><td>+137.2</td><td>144.1</td><td>+9.0 p</td><td>139.1 p</td><td>-</td><td>6.9</td><td>6.9</td><td>-</td></tr></table>
Source
Daily Treasury Statements and reports of gross sales.
D. Pralipinov
Primary
B
dividends
less than $50,000.
at current redemption values except Series O, which is stated at par. Unclassified sales shown in the Daily Treasury Statement have been classified in the table.
21
Classified by series. 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.
Estimated, except for Series O.
18 Go
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; purchases were limited to $7,500 issue price in any one calendar year
and from April 1, 1940, could be made only by individuals. Series E, F, and O 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 O 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 O 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.
39
Sales of United States Savings Bonds - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="7">Sales in millions of dollars at issue price</th><th colspan="7">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr></table>
Series E
<table><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</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>1943 p.</td><td>8,182.3</td><td>2,952.6</td><td>1,068.7</td><td>1,695.6</td><td>997.8</td><td>1,467.7</td><td>.....</td><td>.....</td><td>100.0</td><td>36.1</td><td>13.1</td><td>20.7</td><td>12.2</td><td>17.9</td><td>.....</td><td>.....</td></tr><tr><td>1942-June</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</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</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</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</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</td><td>542.6</td><td>215.2</td><td>74.5</td><td>116.0</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</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>270.2</td><td>99.4</td><td>157.2</td><td>100.5</td><td>184.4</td><td>.....</td><td>.....</td><td>100.0</td><td>33.3</td><td>12.2</td><td>19.4</td><td>12.4</td><td>22.7</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</td><td>712.7</td><td>290.3</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>April</td><td>1,030.6</td><td>310.3</td><td>121.0</td><td>215.6</td><td>152.2</td><td>231.5</td><td>.....</td><td>.....</td><td>100.0</td><td>30.1</td><td>11.7</td><td>20.9</td><td>14.8</td><td>22.5</td><td>.....</td><td>.....</td></tr><tr><td>May</td><td>967.8</td><td>315.6</td><td>122.9</td><td>208.3</td><td>134.7</td><td>186.3</td><td>.....</td><td>.....</td><td>100.0</td><td>32.6</td><td>12.7</td><td>21.5</td><td>13.9</td><td>19.3</td><td>.....</td><td>.....</td></tr><tr><td>June p.</td><td>670.5</td><td>288.3</td><td>99.1</td><td>128.3</td><td>64.5</td><td>90.4</td><td>.....</td><td>.....</td><td>100.0</td><td>43.0</td><td>14.8</td><td>19.1</td><td>9.6</td><td>13.5</td><td>.....</td><td>.....</td></tr></table>
Series 7
<table><tr><td>1941 1/</td><td>75.0</td><td>1.3</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>.3</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>3.9</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>.5</td><td>4.4</td><td>6.3</td><td>28.3</td><td>21.0</td><td>39.7</td></tr><tr><td>1943 p.</td><td>750.0</td><td></td><td>24.2</td><td>40.0</td><td>207.1</td><td>167.5</td><td>307.2</td><td>100.0</td><td></td><td>3.2</td><td>5.3</td><td>27.6</td><td>22.4</td><td>41.0</td></tr><tr><td>1942-June</td><td>41.9</td><td>.2</td><td>1.8</td><td>2.7</td><td>13.1</td><td>9.4</td><td>14.7</td><td>100.0</td><td>.6</td><td>4.3</td><td>6.4</td><td>31.4</td><td>22.3</td><td>35.0</td></tr><tr><td>July</td><td>75.3</td><td>.2</td><td>2.0</td><td>3.3</td><td>17.5</td><td>14.9</td><td>37.4</td><td>100.0</td><td>.3</td><td>2.6</td><td>4.4</td><td>23.2</td><td>19.8</td><td>49.7</td></tr><tr><td>August</td><td>48.4</td><td>.2</td><td>1.5</td><td>2.6</td><td>13.3</td><td>10.2</td><td>20.7</td><td>100.0</td><td>.3</td><td>3.2</td><td>5.3</td><td>27.5</td><td>21.0</td><td>42.7</td></tr><tr><td>September</td><td>69.2</td><td>.2</td><td>1.8</td><td>3.4</td><td>19.2</td><td>14.6</td><td>30.0</td><td>100.0</td><td>.3</td><td>2.6</td><td>4.9</td><td>27.7</td><td>21.1</td><td>43.4</td></tr><tr><td>October</td><td>49.5</td><td>.2</td><td>1.9</td><td>3.1</td><td>15.5</td><td>12.2</td><td>16.6</td><td>100.0</td><td>.4</td><td>3.8</td><td>6.3</td><td>31.3</td><td>24.6</td><td>33.6</td></tr><tr><td>November</td><td>41.9</td><td>.2</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>3.9</td><td>6.1</td><td>32.3</td><td>24.0</td><td>33.2</td></tr><tr><td>December</td><td>65.1</td><td>.5</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>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>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>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>50.9</td><td>.3</td><td>1.9</td><td>2.7</td><td>12.4</td><td>10.1</td><td>23.6</td><td>100.0</td><td>.6</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</td><td>43.7</td><td>.3</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>3.7</td><td>5.6</td><td>26.7</td><td>21.8</td><td>41.5</td></tr><tr><td>April</td><td>120.8</td><td>.5</td><td>2.8</td><td>5.4</td><td>32.4</td><td>29.5</td><td>50.3</td><td>100.0</td><td>.4</td><td>2.3</td><td>4.5</td><td>26.8</td><td>24.4</td><td>41.6</td></tr><tr><td>May</td><td>71.9</td><td>.6</td><td>2.9</td><td>4.7</td><td>23.2</td><td>17.2</td><td>23.4</td><td>100.0</td><td>.8</td><td>4.0</td><td>6.6</td><td>32.2</td><td>23.9</td><td>32.5</td></tr><tr><td>June p.</td><td>37.7</td><td>.4</td><td>1.6</td><td>2.6</td><td>12.5</td><td>9.1</td><td>11.5</td><td>100.0</td><td>1.0</td><td>4.3</td><td>6.9</td><td>33.2</td><td>24.2</td><td>30.4</td></tr></table>
Series 0
<table><tr><td>1941 1/</td><td>451.4</td><td>5.2</td><td>12.2</td><td>90.7</td><td>80.9</td><td>26214</td><td>100.0</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>50.6</td><td>112.7</td><td>576.0</td><td>403.5</td><td>885.0</td><td>100.0</td><td>2.5</td><td>5.6</td><td>28.4</td><td>19.9</td><td>43.6</td></tr><tr><td>1943 p</td><td>2,747.0</td><td>81.0</td><td>187.7</td><td>799.6</td><td>523.2</td><td>1,155.4</td><td>100.0</td><td>3.0</td><td>6.8</td><td>29.1</td><td>19.0</td><td>42.1</td></tr><tr><td>1942-June</td><td>167.2</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>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>7.1</td><td>15.7</td><td>73.2</td><td>52.0</td><td>180.4</td><td>100.0</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>4.9</td><td>10.6</td><td>50.0</td><td>35.6</td><td>79.8</td><td>100.0</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>5.7</td><td>13.0</td><td>60.9</td><td>45.8</td><td>87.7</td><td>100.0</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>5.4</td><td>12.0</td><td>53.9</td><td>36.4</td><td>61.5</td><td>100.0</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</td><td>141.6</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>3.5</td><td>7.4</td><td>33.4</td><td>21.4</td><td>38.3</td></tr><tr><td>December</td><td>227.4</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>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>7.4</td><td>19.1</td><td>80.1</td><td>52.5</td><td>186.7</td><td>100.0</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>206.4</td><td>5.4</td><td>12.5</td><td>54.1</td><td>34.1</td><td>100.3</td><td>100.0</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</td><td>181.2</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>3.1</td><td>7.2</td><td>30.4</td><td>18.0</td><td>41.3</td></tr><tr><td>April</td><td>393.8</td><td>12.2</td><td>30.4</td><td>126.7</td><td>82.3</td><td>142.2</td><td>100.0</td><td>3.1</td><td>7.7</td><td>32.2</td><td>20.9</td><td>36.1</td></tr><tr><td>May</td><td>219.8</td><td>9.6</td><td>21.6</td><td>79.1</td><td>44.4</td><td>65.1</td><td>100.0</td><td>4.4</td><td>9.8</td><td>36.0</td><td>20.2</td><td>29.6</td></tr><tr><td>June p</td><td>139.1</td><td>5.5</td><td>12.6</td><td>48.8</td><td>29.0</td><td>43.3</td><td>100.0</td><td>3.9</td><td>9.1</td><td>35.1</td><td>20.8</td><td>31.1</td></tr></table>
Source: Reports of gross sales. p Preliminary. r Revised.
1/ Sales of Series E, F, and O bonds commenced May 1, 1941.
2/ Sale of $25 denomination Series Y bonds began in January 1942.
40
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States
PART A - SERIES E
(in thousands of dollars at issue prices)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="7">1942</th><th colspan="7">1943</th></tr><tr><th></th><th>1942</th><th>1943</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th></tr><tr><td>Alabama</td><td>28,996</td><td>91,272</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><td>13,522</td><td>11,106</td><td>6,191</td></tr><tr><td>Arizona</td><td>10,313</td><td>27,846</td><td>1,119</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><td>3,976</td><td>3,760</td><td>2,233</td></tr><tr><td>Arkansas</td><td>21,404</td><td>52,764</td><td>2,573</td><td>2,924</td><td>2,522</td><td>3,235</td><td>3,686</td><td>3,671</td><td>5,169</td><td>6,020</td><td>4,452</td><td>4,005</td><td>7,729</td><td>5,743</td><td>3,609</td></tr><tr><td>California</td><td>260,592</td><td>638,877</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>63,319</td><td>51,828</td><td>56,514</td><td>75,703</td><td>82,735</td><td>59,322</td></tr><tr><td>Colorado</td><td>24,845</td><td>62,132</td><td>2,841</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><td>9,101</td><td>7,517</td><td>4,113</td></tr><tr><td>Connecticut</td><td>77,543</td><td>168,258</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>10,868</td><td>14,570</td><td>15,843</td><td>17,866</td><td>14,473</td></tr><tr><td>Delaware</td><td>7,629</td><td>21,824</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><td>2,230</td><td>2,236</td><td>1,692</td></tr><tr><td>Dist. of Columbia</td><td>34,827</td><td>83,143</td><td>4,423</td><td>4,434</td><td>4,760</td><td>4,728</td><td>5,359</td><td>5,596</td><td>7,771</td><td>8,099</td><td>6,667</td><td>7,252</td><td>9,293</td><td>10,870</td><td>8,314</td></tr><tr><td>Florida</td><td>39,565</td><td>89,496</td><td>4,269</td><td>5,481</td><td>4,563</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><td>12,445</td><td>11,401</td><td>8,047</td></tr><tr><td>Georgia</td><td>35,642</td><td>94,524</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><td>12,125</td><td>10,256</td><td>7,486</td></tr><tr><td>Idaho</td><td>9,840</td><td>27,845</td><td>1,132</td><td>1,285</td><td>1,437</td><td>1,830</td><td>2,213</td><td>2,279</td><td>2,255</td><td>2,640</td><td>2,594</td><td>2,266</td><td>3,853</td><td>3,438</td><td>1,751</td></tr><tr><td>Illinois</td><td>282,055</td><td>575,056</td><td>32,854</td><td>38,891</td><td>33,598</td><td>39,072</td><td>44,970</td><td>40,091</td><td>51,912</td><td>54,882</td><td>44,602</td><td>53,559</td><td>66,607</td><td>62,606</td><td>44,265</td></tr><tr><td>Indiana</td><td>76,661</td><td>213,813</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><td>25,764</td><td>23,801</td><td>17,472</td></tr><tr><td>Iowa</td><td>69,558</td><td>176,508</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>20,115</td><td>18,288</td><td>12,426</td><td>18,270</td><td>23,975</td><td>17,815</td><td>12,455</td></tr><tr><td>Kansas</td><td>35,310</td><td>106,190</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>9,043</td><td>9,017</td><td>8,320</td><td>10,681</td><td>16,650</td><td>13,827</td><td>7,604</td></tr><tr><td>Kentucky</td><td>34,293</td><td>87,607</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><td>13,224</td><td>10,130</td><td>6,605</td></tr><tr><td>Louisiana</td><td>36,800</td><td>94,910</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><td>13,697</td><td>12,423</td><td>7,234</td></tr><tr><td>Maine</td><td>17,746</td><td>37,361</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>2,416</td><td>3,339</td><td>4,448</td><td>4,193</td><td>2,874</td></tr><tr><td>Maryland</td><td>49,009</td><td>108,604</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><td>12,847</td><td>12,911</td><td>10,923</td></tr><tr><td>Massachusetts</td><td>141,217</td><td>280,091</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><td>29,454</td><td>30,745</td><td>24,718</td></tr><tr><td>Michigan</td><td>160,150</td><td>483,430</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><td>69,473</td><td>55,513</td><td>42,330</td></tr><tr><td>Minnesota</td><td>71,181</td><td>179,108</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><td>34,629</td><td>21,235</td><td>11,595</td></tr><tr><td>Mississippi</td><td>22,973</td><td>52,870</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><td>9,376</td><td>5,503</td><td>3,184</td></tr><tr><td>Missouri</td><td>94,800</td><td>195,868</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><td>29,260</td><td>24,831</td><td>16,675</td></tr><tr><td>Montana</td><td>17,710</td><td>39,432</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><td>8,081</td><td>3,359</td><td>2,361</td></tr><tr><td>Nebraska</td><td>26,045</td><td>72,211</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><td>11,382</td><td>10,913</td><td>4,907</td></tr><tr><td>Nevada</td><td>4,340</td><td>11,466</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><td>1,290</td><td>1,612</td><td>743</td></tr><tr><td>New Hampshire</td><td>11,760</td><td>25,787</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>2,136</td><td>2,348</td><td>2,612</td><td>2,806</td><td>1,978</td></tr><tr><td>New Jersey</td><td>160,538</td><td>303,807</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><td>32,038</td><td>36,902</td><td>25,394</td></tr><tr><td>New Mexico</td><td>6,978</td><td>17,284</td><td>763</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><td>2,569</td><td>2,036</td><td>1,251</td></tr><tr><td>New York</td><td>587,249</td><td>991,988</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><td>105,581</td><td>114,815</td><td>74,108</td></tr><tr><td>North Carolina</td><td>42,297</td><td>113,760</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><td>13,345</td><td>10,948</td><td>8,096</td></tr><tr><td>North Dakota</td><td>11,394</td><td>34,349</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><td>6,465</td><td>2,977</td><td>1,651</td></tr><tr><td>Ohio</td><td>190,262</td><td>506,364</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><td>67,065</td><td>63,682</td><td>40,648</td></tr><tr><td>Oklahoma</td><td>34,482</td><td>82,143</td><td>3,789</td><td>4,471</td><td>4,674</td><td>5,052</td><td>5,564</td><td>4,718</td><td>7,574</td><td>10,742</td><td>6,917</td><td>6,471</td><td>10,963</td><td>9,518</td><td>5,478</td></tr><tr><td>Oregon</td><td>37,394</td><td>107,674</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><td>13,055</td><td>15,473</td><td>10,091</td></tr><tr><td>Pennsylvania</td><td>283,782</td><td>626,051</td><td>32,149</td><td>36,801</td><td>35,058</td><td>43,944</td><td>46,459</td><td>42,641</td><td>59,356</td><td>59,059</td><td>49,624</td><td>51,762</td><td>74,743</td><td>73,336</td><td>53,269</td></tr><tr><td>Rhode Island</td><td>24,293</td><td>53,748</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><td>5,555</td><td>6,405</td><td>4,016</td></tr><tr><td>South Carolina</td><td>18,782</td><td>53,510</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><td>6,677</td><td>6,073</td><td>4,124</td></tr><tr><td>South Dakota</td><td>11,783</td><td>33,171</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><td>8,361</td><td>3,136</td><td>1,960</td></tr><tr><td>Tennessee</td><td>36,734</td><td>100,530</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>10,955</td><td>7,833</td><td>7,922</td><td>13,059</td><td>11,008</td><td>7,708</td></tr><tr><td>Texas</td><td>126,056</td><td>306,265</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><td>45,901</td><td>37,823</td><td>24,848</td></tr><tr><td>Utah</td><td>9,919</td><td>33,242</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><td>4,694</td><td>4,521</td><td>2,932</td></tr><tr><td>Vermont</td><td>7,550</td><td>14,175</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><td>1,494</td><td>1,850</td><td>1,089</td></tr><tr><td>Virginia</td><td>56,272</td><td>145,459</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><td>16,804</td><td>16,333</td><td>11,910</td></tr><tr><td>Washington</td><td>57,962</td><td>163,924</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>14,965</td><td>18,630</td><td>21,738</td><td>14,319</td></tr><tr><td>West Virginia</td><td>27,642</td><td>64,583</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>5,220</td><td>6,377</td><td>7,163</td><td>7,151</td><td>5,090</td></tr><tr><td>Wisconsin</td><td>77,668</td><td>172,650</td><td>10,527</td><td>11,402</td><td>10,358</td><td>11,256</td><td>12,566</td><td>11,446</td><td>14,825</td><td>16,003</td><td>13,308</td><td>13,241</td><td>25,561</td><td>19,657</td><td>12,586</td></tr><tr><td>Wy
(Continued on following page)
41
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States - (Continued)
PART B - SERIES F AND G COMBINED
(In thousands of dollars at issue price)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="7">1942</th><th colspan="7">1943</th></tr><tr><th></th><th>1942</th><th>1943 p</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June p</th></tr><tr><td>Alabama</td><td>13,099</td><td>32,007</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>1,387</td><td>1,592</td><td>7,282</td><td>1,396</td><td>1,251</td></tr><tr><td>Arizona</td><td>4,232</td><td>8,421</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><td>1,450</td><td>909</td><td>440</td></tr><tr><td>Arkansas</td><td>13,738</td><td>16,578</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><td>4,127</td><td>854</td><td>779</td></tr><tr><td>California</td><td>140,602</td><td>224,145</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><td>32,478</td><td>23,001</td><td>12,196</td></tr><tr><td>Colorado</td><td>18,302</td><td>29,746</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><td>4,639</td><td>3,485</td><td>1,632</td></tr><tr><td>Connecticut</td><td>59,894</td><td>81,128</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><td>8,196</td><td>11,496</td><td>3,996</td></tr><tr><td>Delaware</td><td>11,910</td><td>12,326</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><td>1,624</td><td>816</td><td>918</td></tr><tr><td>Diet. of Columbia</td><td>23,247</td><td>33,757</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><td>4,794</td><td>4,707</td><td>1,133</td></tr><tr><td>Florida</td><td>22,219</td><td>36,705</td><td>1,752</td><td>3,716</td><td>1,766</td><td>3,796</td><td>1,946</td><td>2,704</td><td>2,538</td><td>3,681</td><td>2,339</td><td>2,384</td><td>6,973</td><td>2,654</td><td>2,208</td></tr><tr><td>Georgia</td><td>17,982</td><td>37,831</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><td>7,001</td><td>1,734</td><td>1,961</td></tr><tr><td>Idaho</td><td>7,339</td><td>8,031</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><td>994</td><td>952</td><td>327</td></tr><tr><td>Illinois</td><td>202,041</td><td>272,112</td><td>19,404</td><td>33,306</td><td>20,568</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><td>33,354</td><td>23,584</td><td>13,045</td></tr><tr><td>Indiana</td><td>45,123</td><td>79,524</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><td>12,144</td><td>6,819</td><td>4,482</td></tr><tr><td>Iowa</td><td>30,676</td><td>71,432</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>7,593</td><td>10,807</td><td>6,610</td><td>4,327</td></tr><tr><td>Kansas</td><td>14,486</td><td>34,897</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><td>4,995</td><td>3,607</td><td>1,641</td></tr><tr><td>Kentucky</td><td>24,516</td><td>43,755</td><td>1,519</td><td>4,601</td><td>3,591</td><td>2,809</td><td>2,674</td><td>2,537</td><td>3,177</td><td>5,314</td><td>5,039</td><td>1,690</td><td>7,769</td><td>1,804</td><td>2,749</td></tr><tr><td>Louisiana</td><td>21,651</td><td>44,461</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><td>9,710</td><td>3,143</td><td>1,785</td></tr><tr><td>Maine</td><td>16,570</td><td>20,245</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>1,740</td><td>1,261</td><td>1,764</td><td>2,419</td><td>1,032</td></tr><tr><td>Maryland</td><td>40,093</td><td>54,252</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><td>7,244</td><td>4,209</td><td>2,638</td></tr><tr><td>Massachusetts</td><td>144,199</td><td>174,999</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>15,124</td><td>11,663</td><td>14,217</td><td>17,772</td><td>7,489</td></tr><tr><td>Michigan</td><td>65,040</td><td>106,363</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><td>19,255</td><td>7,734</td><td>5,090</td></tr><tr><td>Minnesota</td><td>49,069</td><td>69,692</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><td>10,922</td><td>7,599</td><td>3,240</td></tr><tr><td>Mississippi</td><td>10,061</td><td>21,812</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><td>5,199</td><td>1,351</td><td>845</td></tr><tr><td>Missouri</td><td>68,651</td><td>84,266</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><td>14,572</td><td>7,225</td><td>5,140</td></tr><tr><td>Montana</td><td>6,322</td><td>10,529</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><td>2,588</td><td>457</td><td>435</td></tr><tr><td>Nebraska</td><td>14,132</td><td>30,414</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><td>3,935</td><td>4,268</td><td>1,570</td></tr><tr><td>Nevada</td><td>2,349</td><td>4,441</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><td>449</td><td>437</td><td>182</td></tr><tr><td>New Hampshire</td><td>11,090</td><td>14,403</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>1,177</td><td>1,309</td><td>1,061</td><td>843</td><td>747</td></tr><tr><td>New Jersey</td><td>93,399</td><td>118,761</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>7,855</td><td>15,316</td><td>10,492</td><td>6,554</td></tr><tr><td>New Mexico</td><td>9,034</td><td>7,025</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><td>999</td><td>857</td><td>285</td></tr><tr><td>New York</td><td>580,433</td><td>627,986</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>42,616</td><td>38,317</td><td>82,836</td><td>43,532</td><td>28,466</td></tr><tr><td>North Carolina</td><td>26,074</td><td>44,654</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><td>7,172</td><td>4,221</td><td>2,226</td></tr><tr><td>North Dakota</td><td>7,515</td><td>10,937</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><td>1,387</td><td>1,168</td><td>444</td></tr><tr><td>Ohio</td><td>119,098</td><td>203,827</td><td>9,587</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><td>41,294</td><td>8,446</td><td>10,528</td></tr><tr><td>Oklahoma</td><td>16,587</td><td>25,095</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><td>3,876</td><td>2,689</td><td>1,231</td></tr><tr><td>Oregon</td><td>22,095</td><td>32,892</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><td>3,805</td><td>3,791</td><td>1,555</td></tr><tr><td>Pennsylvania</td><td>243,285</td><td>297,430</td><td>20,058</td><td>34,117</td><td>19,817</td><td>25,071</td><td>21,793</td><td>20,843</td><td>25,937</td><td>31,758</td><td>17,999</td><td>17,918</td><td>44,705</td><td>21,728</td><td>15,743</td></tr><tr><td>Rhode Island</td><td>28,064</td><td>30,424</td><td>2,225</td><td>3,695</td><td>2,262</td><td>1,661</td><td>1,557</td><td>1,615</td><td>1,852</td><td>2,804</td><td>7,115</td><td>1,297</td><td>2,794</td><td>2,213</td><td>1,358</td></tr><tr><td>South Carolina</td><td>9,459</td><td>21,712</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><td>3,324</td><td>2,209</td><td>1,478</td></tr><tr><td>South Dakota</td><td>3,077</td><td>10,416</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><td>2,456</td><td>1,146</td><td>394</td></tr><tr><td>Tennessee</td><td>18,481</td><td>39,140</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>2,176</td><td>6,546</td><td>1,420</td><td>2,461</td></tr><tr><td>Texas</td><td>54,196</td><td>110,993</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><td>21,676</td><td>9,533</td><td>5,172</td></tr><tr><td>Utah</td><td>5,019</td><td>7,474</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><td>1,588</td><td>653</td><td>147</td></tr><tr><td>Vermont</td><td>5,842</td><td>7,504</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><td>668</td><td>709</td><td>608</td></tr><tr><td>Virginia</td><td>28,014</td><td>53,701</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><td>8,095</td><td>5,263</td><td>2,950</td></tr><tr><td>Washington</td><td>25,898</td><td>49,753</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><td>7,139</td><td>6,144</td><td>2,928</td></tr><tr><td>West Virginia</td><td>11,780</td><td>17,905</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><td>2,047</td><td>1,367</td><td>843</td></tr><tr><td>Wisconsin</td><td>42,205</td><td>86,336</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><td>13,019</td><td>8,996</td><td>4,663</td></tr><tr><td>Wyoming</td><td>3,690</td><td>6,010</td><td>232</td><td>546</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><td>702</td><td>1,117</td><td>215</td></tr><tr><td>Alaska</td><td>736</td><td>1,297</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><td>118</td><td>152</td><td>156</td></tr><tr><td>Canal Zone</td><td>504</td><td>1,843</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><td>325</td><td>303</td><td>86</td></tr><tr><td>Hawaii</td><td>5,882</td><td>1
Source: Reports of gross sales. p Preliminary. r Revise. * Less than $500.
42
Participation in Payroll Savings Plans For United States Savings Bonds
<table><tr><th rowspan="2"></th><th colspan="8">1942</th><th colspan="6">1943</th></tr><tr><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th></tr></table>
Number of firms having payroll savings plans
<table><tr><th>Firms with:</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>5,000 or more workers</td><td>475</td><td>477</td><td>481</td><td>484</td><td>487</td><td>488</td><td>490</td><td>492</td><td>492</td><td>496</td><td>501</td><td>501</td><td>537 p</td></tr><tr><td>500-4,999 workers</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>5,586</td><td>5,683</td><td>5,707</td><td>5,755</td><td>5,767</td><td>5,778</td><td>5,757 p</td></tr><tr><td>100-499 workers</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><td>26,517</td><td>26,666</td><td>26,832</td></tr><tr><td>Under 100 workers</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>140,644</td><td>144,016</td><td>146,137</td><td>147,346</td><td>149,018</td></tr><tr><td>Total number of firms</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><td>178,922</td><td>180,291</td><td>182,144 p</td></tr></table>
Number of workers employed in firms and governmental agencies having payroll savings plans (In millions)
<table><tr><td>In firms</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>26.3</td><td>27.0</td><td>27.2</td><td>27.2</td><td>27.3</td></tr><tr><td>In Federal, State, and local government and their agencies</td><td>1.5</td><td>1.5</td><td>2.5</td><td>2.9</td><td>3.1</td><td>3.2</td><td>3.2</td><td>3.3</td><td>3.4</td><td>3.5</td><td>3.6</td><td>3.8</td><td>3.8</td></tr><tr><td>Total</td><td>22.0</td><td>22.8</td><td>24.6</td><td>25.7</td><td>26.3</td><td>27.7</td><td>28.5</td><td>29.0</td><td>29.7</td><td>30.5</td><td>30.8</td><td>31.0</td><td>31.1</td></tr></table>
Deductions under payroll savings plans
<table><tr><td>Total amount deducted (in millions of dollars)</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>355.0</td><td>375.0</td><td>360.0</td><td>380.0</td><td>425.0</td><td>420.0 p</td></tr><tr><td>Percent of pay deducted</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%</td><td>8.7%</td><td>9.1%</td><td>9.1% p</td></tr></table>
Preliminary. Estimated.
43
Sales of United States Savings Stamps
Table 1.- Summary of Sales and Redemptions
(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>Sales 1/</th><th colspan="3">Redemptions</th><th colspan="3">Percentage distribution of redemptions</th></tr><tr><th></th><th></th><th></th><th></th><th>Total 1/</th><th>Exchanged for United States savings bonds 2/</th><th>Cash 2/ 3/</th><th>Total</th><th>Exchanged for United States savings bonds 2/</th><th>Cash 2/ 3/</th></tr><tr><td>1941 4/</td><td>5,294</td><td>+5,143</td><td>6,087</td><td>943</td><td>5/</td><td>5/</td><td>100.0</td><td>5/</td><td>5/</td></tr><tr><td>1942 (July 1941- Aug. 1941-June 1942</td><td>166,341</td><td>+161,048</td><td>308,621</td><td>147,574</td><td>127,948</td><td>18,468</td><td>100.0</td><td>87.4</td><td>12.6</td></tr><tr><td>1943</td><td>213,350</td><td>+45,620 6/ 1/</td><td>590,268</td><td>544,047</td><td>474,168</td><td>70,480</td><td>100.0</td><td>87.1</td><td>12.9</td></tr><tr><td>1942-June</td><td>166,341</td><td>+14,124</td><td>48,960</td><td>34,836</td><td>31,678</td><td>3,158</td><td>100.0</td><td>90.9</td><td>9.1</td></tr><tr><td>July</td><td>180,972</td><td>+14,631</td><td>53,815</td><td>39,185</td><td>35,253</td><td>3,932</td><td>100.0</td><td>90.0</td><td>10.0</td></tr><tr><td>August</td><td>187,618</td><td>+6,047</td><td>44,546</td><td>37,900</td><td>34,101</td><td>3,799</td><td>100.0</td><td>90.0</td><td>10.0</td></tr><tr><td>September</td><td>194,010</td><td>+6,392</td><td>47,682</td><td>41,290</td><td>36,561</td><td>4,730</td><td>100.0</td><td>88.6</td><td>11.4</td></tr><tr><td>October</td><td>206,044</td><td>+12,034</td><td>53,141</td><td>41,107</td><td>36,188</td><td>4,919</td><td>100.0</td><td>88.0</td><td>12.0</td></tr><tr><td>November</td><td>215,805</td><td>+9,121 6/ 1/</td><td>39,077 1/</td><td>29,955</td><td>26,220</td><td>3,736</td><td>100.0</td><td>87.5</td><td>12.5</td></tr><tr><td>December</td><td>221,340</td><td>+5,536</td><td>43,920</td><td>38,384</td><td>32,988</td><td>5,396</td><td>100.0</td><td>85.9</td><td>14.1</td></tr><tr><td>1943-January</td><td>224,901</td><td>+3,561</td><td>66,267</td><td>62,706</td><td>54,448</td><td>8,258</td><td>100.0</td><td>86.8</td><td>13.2</td></tr><tr><td>February</td><td>224,356</td><td>-1,106 1/</td><td>54,667 1/</td><td>55,773</td><td>48,339</td><td>7,434</td><td>100.0</td><td>86.7</td><td>13.3</td></tr><tr><td>March</td><td>226,216</td><td>+1,671 1/</td><td>49,630 1/</td><td>47,958</td><td>40,650</td><td>7,309</td><td>100.0</td><td>84.8</td><td>15.2</td></tr><tr><td>April</td><td>227,989</td><td>+1,774 1/</td><td>44,791 1/</td><td>43,018</td><td>37,501</td><td>5,517</td><td>100.0</td><td>87.2</td><td>12.8</td></tr><tr><td>May</td><td>224,771</td><td>-3,218</td><td>40,048</td><td>43,267</td><td>37,530</td><td>5,737</td><td>100.0</td><td>86.7</td><td>13.3</td></tr><tr><td>June</td><td>213,350</td><td>-11,421</td><td>52,683</td><td>61,104</td><td>54,391</td><td>9,714</td><td>100.0</td><td>84.8</td><td>15.2</td></tr></table>
Source: Daily Treasury Statements commencing November 1, 1942; prior thereto, Post Office Department.
1/ Figures for November 1942 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 Savings System but subsequently became public debt obligations.
2/ Estimated on the basis of samples conducted by the Post Office Department.
3/ Includes minor amounts which were exchanged for postal savings
certificates prior to November 1, 1942. These did not aggregate in any one month more than $26 thousands nor more than 0.9 percent of total redemptions.
4/ Sales and redemptions commence with May 1, 1941 when the special defense series of stamps went on sale. The amount of the old series of postal savings stamps outstanding on April 30, 1941 was $150 thousands
5/ Details not available for May, June, and July 1941.
6/ Net of sales less redemptions. See footnote 1/.
7/ Does not include amounts transferred from Postal Savings System to the Treasury to cover outstanding stamps.
Table 2.- 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>1943.</td><td>590,268</td><td>126,327</td><td>313,691</td><td>52,508</td><td>71,693</td><td>26,048</td><td>100.0</td><td>21.4</td><td>53.1</td><td>8.9</td><td>12.2</td><td>4.4</td></tr><tr><td>1942-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 r.</td><td>39,077</td><td>8,033</td><td>20,751</td><td>3,595</td><td>4,939</td><td>1,759</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 r.</td><td>43,920</td><td>9,243</td><td>22,984</td><td>3,624</td><td>5,600</td><td>2,469</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 r.</td><td>66,267</td><td>15,993</td><td>34,209</td><td>5,192</td><td>7,798</td><td>3,075</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 r.</td><td>54,667</td><td>12,771</td><td>28,514</td><td>4,566</td><td>6,405</td><td>2,412</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 r.</td><td>49,630</td><td>12,290</td><td>25,576</td><td>4,001</td><td>5,652</td><td>2,110</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><tr><td>April r.</td><td>44,791</td><td>11,284</td><td>23,164</td><td>3,594</td><td>5,085</td><td>1,665</td><td>100.0</td><td>25.2</td><td>51.7</td><td>8.0</td><td>11.4</td><td>3.7</td></tr><tr><td>May r.</td><td>40,048</td><td>9,704</td><td>20,983</td><td>3,358</td><td>4,574</td><td>1,429</td><td>100.0</td><td>24.2</td><td>52.4</td><td>8.4</td><td>11.4</td><td>3.6</td></tr><tr><td>June.</td><td>52,683</td><td>10,531</td><td>28,257</td><td>4,942</td><td>6,803</td><td>2,151</td><td>100.0</td><td>20.0</td><td>53.6</td><td>9.4</td><td>12.9</td><td>4.1</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements commencing November 1, 1942; prior thereto Post Office Department;
(2) Distribution by denominations: Post Office Department. Revised to Daily Treasury Statement basis.
44
Sales of United States Savings Stamps - (Continued)
Table 4.- Sales by States
(In thousands of dollars)
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="8">1942</th><th colspan="8">1943</th></tr><tr><th></th><th>1942</th><th>1943 p</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May p</th><th>June p</th></tr><tr><td>Alabama</td><td>2,343.7</td><td>4,215.8</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>366.2</td><td>352.1</td><td>382.4</td><td>394.9</td><td>296.9</td><td>219.4</td></tr><tr><td>Arizona</td><td>834.8</td><td>1,796.4</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>174.9</td><td>157.6</td><td>158.7</td><td>190.2</td><td>116.0</td><td>109.1</td></tr><tr><td>Arkansas</td><td>1,674.7</td><td>2,968.4</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>266.8</td><td>243.3</td><td>250.8</td><td>271.9</td><td>193.5</td><td>164.2</td></tr><tr><td>California</td><td>20,132.6</td><td>39,744.0</td><td>3,442.2</td><td>3,766.8</td><td>2,904.9</td><td>3,232.9</td><td>3,602.5</td><td>3,048.7</td><td>4,122.0</td><td>3,624.3</td><td>2,963.3</td><td>3,344.8</td><td>3,486.4</td><td>3,261.6</td><td>2,325.7</td></tr><tr><td>Colorado</td><td>2,020.3</td><td>4,082.4</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>376.7</td><td>357.8</td><td>372.9</td><td>374.6</td><td>294.5</td><td>216.2</td></tr><tr><td>Connecticut</td><td>7,707.4</td><td>14,375.4</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>1,255.6</td><td>1,089.8</td><td>1,090.3</td><td>1,083.3</td><td>1,004.6</td><td>797.3</td></tr><tr><td>Delaware</td><td>714.2</td><td>1,298.6</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>119.2</td><td>98.3</td><td>101.8</td><td>132.3</td><td>85.2</td><td>74.2</td></tr><tr><td>Dist. of Columbia</td><td>6,100.1</td><td>5,591.7</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><td>489.7</td><td>421.4</td><td>294.8</td></tr><tr><td>Florida</td><td>3,705.9</td><td>6,185.2</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>586.3</td><td>531.5</td><td>582.3</td><td>613.8</td><td>491.2</td><td>365.4</td></tr><tr><td>Georgia</td><td>3,175.5</td><td>5,623.0</td><td>512.0</td><td>534.6</td><td>463.6</td><td>460.7</td><td>500.4</td><td>464.4</td><td>533.4</td><td>503.1</td><td>479.3</td><td>494.5</td><td>458.6</td><td>421.6</td><td>308.9</td></tr><tr><td>Idaho</td><td>841.0</td><td>1,411.7</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>131.1</td><td>138.9</td><td>125.9</td><td>127.6</td><td>87.2</td><td>71.2</td></tr><tr><td>Illinois</td><td>23,612.9</td><td>39,952.4</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>3,555.0</td><td>3,203.7</td><td>3,593.9</td><td>3,101.1</td><td>2,830.4</td><td>2,211.9</td></tr><tr><td>Indiana</td><td>7,516.9</td><td>14,115.8</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>1,262.7</td><td>1,150.6</td><td>1,222.3</td><td>1,213.2</td><td>1,004.1</td><td>751.9</td></tr><tr><td>Iowa</td><td>4,575.8</td><td>9,009.4</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>736.4</td><td>675.5</td><td>720.6</td><td>858.5</td><td>634.9</td><td>517.5</td></tr><tr><td>Kansas</td><td>2,532.9</td><td>5,584.8</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>517.7</td><td>502.7</td><td>545.0</td><td>630.4</td><td>421.5</td><td>289.4</td></tr><tr><td>Keotucky</td><td>3,036.2</td><td>5,425.2</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>504.6</td><td>436.1</td><td>463.9</td><td>480.0</td><td>385.4</td><td>301.9</td></tr><tr><td>Louisiana</td><td>3,428.0</td><td>6,122.2</td><td>606.0</td><td>69.6</td><td>450.2</td><td>455.2</td><td>521.4</td><td>481.6</td><td>548.7</td><td>551.7</td><td>511.3</td><td>562.9</td><td>598.4</td><td>433.6</td><td>357.6</td></tr><tr><td>Maine</td><td>1,725.5</td><td>3,621.2</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>328.9</td><td>300.7</td><td>309.8</td><td>330.2</td><td>299.4</td><td>214.8</td></tr><tr><td>Maryland</td><td>5,785.2</td><td>9,208.2</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>824.8</td><td>763.7</td><td>787.9</td><td>840.2</td><td>721.3</td><td>561.4</td></tr><tr><td>Massachusetts</td><td>14,413.6</td><td>26,941.7</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>2,406.2</td><td>1,975.5</td><td>2,297.4</td><td>2,575.6</td><td>2,051.9</td><td>1,632.8</td></tr><tr><td>Michigan</td><td>13,721.6</td><td>26,170.6</td><td>2,256.2</td><td>2,681.1</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>2,281.0</td><td>2,154.2</td><td>2,237.1</td><td>2,496.8</td><td>1,936.7</td><td>1,398.1</td></tr><tr><td>Minnesota</td><td>4,037.7</td><td>7,957.0</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>801.9</td><td>718.3</td><td>692.1</td><td>817.2</td><td>550.5</td><td>403.5</td></tr><tr><td>Mississippi</td><td>1,508.8</td><td>3,082.3</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>267.3</td><td>235.8</td><td>242.5</td><td>249.4</td><td>184.2</td><td>140.7</td></tr><tr><td>Missouri</td><td>7,326.4</td><td>14,235.6</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>1,281.4</td><td>1,219.8</td><td>1,235.4</td><td>1,353.4</td><td>1,037.0</td><td>791.7</td></tr><tr><td>Montana</td><td>1,030.7</td><td>1,897.1</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>173.4</td><td>156.1</td><td>161.0</td><td>170.0</td><td>146.1</td><td>80.9</td></tr><tr><td>Nebraska</td><td>2,371.8</td><td>4,545.5</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>416.7</td><td>379.0</td><td>375.6</td><td>395.3</td><td>311.4</td><td>249.6</td></tr><tr><td>Nevada</td><td>381.4</td><td>673.2</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>54.3</td><td>52.6</td><td>57.6</td><td>54.0</td><td>49.2</td><td>26.3</td></tr><tr><td>New Hampshire</td><td>1,150.8</td><td>2,254.0</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>203.0</td><td>175.6</td><td>174.2</td><td>180.8</td><td>147.6</td><td>126.5</td></tr><tr><td>New Jersey</td><td>13,313.7</td><td>23,202.5</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>2,071.5</td><td>1,850.3</td><td>2,001.2</td><td>2,057.2</td><td>1,768.6</td><td>1,404.6</td></tr><tr><td>New Mexico</td><td>720.3</td><td>1,252.2</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>131.2</td><td>105.4</td><td>105.5</td><td>117.1</td><td>80.3</td><td>56.8</td></tr><tr><td>New York</td><td>53,060.7</td><td>106,757.7</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>8,705.6</td><td>8,019.8</td><td>8,793.1</td><td>8,939.4</td><td>7,840.5</td><td>6,604.9</td></tr><tr><td>North Carolina</td><td>3,089.7</td><td>6,770.8</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>623.0</td><td>593.6</td><td>631.8</td><td>625.6</td><td>432.0</td><td>343.9</td></tr><tr><td>North Dakota</td><td>801.2</td><td>1,557.4</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>150.6</td><td>139.7</td><td>126.5</td><td>167.5</td><td>102.0</td><td>71.4</td></tr><tr><td>Ohio</td><td>18,269.5</td><td>32,934.6</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>3,076.2</td><td>2,850.9</td><td>2,882.0</td><td>2,922.0</td><td>2,488.9</td><td>1,674.8</td></tr><tr><td>Oklahoma</td><td>2,489.1</td><td>4,431.9</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>422.4</td><td>390.2</td><td>388.2</td><td>458.6</td><td>296.7</td><td>248.3</td></tr><tr><td>Oregon</td><td>2,739.3</td><td>5,322.2</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>609.1</td><td>433.1</td><td>465.0</td><td>531.2</td><td>366.2</td><td>286.0</td></tr><tr><td>Pennsylvania</td><td>27,075.3</td><td>49,477.0</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>4,586.6</td><td>4,020.3</td><td>4,286.8</td><td>4,566.3</td><td>3,817.3</td><td>2,838.1</td></tr><tr><td>Rhode Island</td><td>3,087.6</td><td>5,172.2</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>412.8</td><td>347.1</td><td>391.4</td><td>439.2</td><td>373.0</td><td>292.1</td></tr><tr><td>South Carolina</td><td>1,488.2</td><td>2,219.1</td><td>211.0</td><td>210.2</td><td>186.9</td><td>181.4</td><td>156.1</td><td>152.5</td><td>237.5</td><td>198.5</td><td>190.5</td><td>202.0</td><td>217.9</td><td>164.5</td><td>121.0</td></tr><tr><td>South Dakota</td><td>832.2</td><td>1,545.5</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>137.4</td><td>149.9</td><td>155.6</td><td>100.8</td><td>69.0</td></tr><tr><td>Tennessee</td><td>2,952.8</td><td>5,686.1</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>438.7</td><td>454.0</td><td>462.3</td><td>360.1</td><td>274.7</td></tr><tr><td>Texas</td><td>11,520.8</td><td>20,130.7</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>1,748.9</td><td>1,702.1</td><td>1,686.9</td><td>1,915.4</td><td>1,439.2</td><td>1,138.3</td></tr><tr><td>Utah</td><td>963.4</td><td>2,436.2</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>244.6</td><td>214.0</td><td>222.7</td><td>283.3</td><td>145.1</td><td>105.5</td></tr><tr><td>Vermont</td><td>705.8</td><td>1,373.6</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>119.6</td><td>107.5</td><td>108.8</td><td>116.1</td><td>132.3</td><td>84.2</td></tr><tr><td>Virginia</td><td>4,051.8</td><td>7,311.3</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>707.8</td><td>604.1</td><td>671.6</td><td>737.0</td><td>555.1</td><td>373.1</td></tr><tr><td>Washington</td><td>3,909.2</td><td>8,130.5</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>905.4</td><td>709.9</td><td>672.0</td><td>735.5</td><td>612.0</td><td>411.9</td></tr><tr><td>West Virginia</td><td>2,449.7</td><td>4,015.9</td><td>337.5</td><td>365.3</td><td>305.4</td><td>314.2</td><td>391.5</td><td>320.4</td><td>398.0</td><td>380.9</td><td>355.0</td><td>379.3</td><td>368.4</td><td>251.5</td><td>186.2</td></tr><tr><td>Wisconsin</td><td>5,728.3</
Source: (1) Total sales: Daily Treasury Statements; (2) Sales by States: Post Office Department. p Preliminary.
45
Sales of Tax Series Treasury Notes
Table 1.- Summary, by Series
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month (per value)</th><th>Net change during fiscal year or month</th><th colspan="3">Analysis of gross sales</th><th>Exchanged (per value)</th><th>Redemptions (per value)</th></tr><tr><th></th><th></th><th></th><th>Total funds received</th><th>Adjustment of sales reported to funds received</th><th>Sales reported</th><th></th><th></th></tr><tr><td colspan="8">All series 1/</td></tr><tr><td>1942 2/</td><td>3,014.5</td><td>+3,014.5</td><td>4,138.9</td><td>-17.2</td><td>4,156.2</td><td>1,124.4</td><td></td></tr><tr><td>1943</td><td>7,495.4</td><td>+4,480.9</td><td>8,758.5</td><td>+134.5</td><td>8,624.1</td><td>68.3</td><td>4,209.3</td></tr><tr><td>1942-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>April</td><td>7,782.5</td><td>+1,436.9</td><td>1,632.9</td><td>+6.0</td><td>1,627.0</td><td></td><td>196.0</td></tr><tr><td>May</td><td>8,162.9</td><td>+380.4</td><td>482.2</td><td>+6.3</td><td>476.0</td><td></td><td>101.8</td></tr><tr><td>June</td><td>7,495.4</td><td>-667.5</td><td>468.1</td><td>+15.0</td><td>453.1</td><td></td><td>1,135.6</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>+1.1</td><td>72.1</td><td>17.4</td><td></td></tr><tr><td>1943</td><td>266.7</td><td>+211.9</td><td>334.7</td><td>+3.6</td><td>331.2</td><td>.1</td><td>122.7</td></tr><tr><td>1942-June</td><td>54.8</td><td>+1.4</td><td>5.1</td><td></td><td>5.1</td><td>3.7</td><td></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>.5</td><td></td></tr><tr><td>August</td><td>65.1</td><td>+4.8</td><td>5.1</td><td>+2.2</td><td>4.9</td><td>.3</td><td></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>5.0</td><td></td></tr><tr><td>October</td><td>167.0</td><td>+54.3</td><td>54.7</td><td>+6.6</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>+3.3</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>1.0</td><td></td></tr><tr><td>February</td><td>320.0</td><td>+10.5</td><td>13.0</td><td>+4.4</td><td>12.6</td><td>2.5</td><td></td></tr><tr><td>March</td><td>286.6</td><td>-33.3</td><td>15.3</td><td>+3</td><td>15.0</td><td>48.6</td><td></td></tr><tr><td>April</td><td>296.1</td><td>+9.5</td><td>21.8</td><td>-1</td><td>21.8</td><td>12.3</td><td></td></tr><tr><td>May</td><td>302.7</td><td>+6.5</td><td>7.8</td><td>+5</td><td>7.3</td><td>1.2</td><td></td></tr><tr><td>June</td><td>266.7</td><td>-35.9</td><td>4.5</td><td>+2</td><td>4.3</td><td>40.4</td><td></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>1,107.0</td><td></td></tr><tr><td>1943</td><td>764.8</td><td>-2,195.0</td><td>871.1</td><td>+24.9</td><td>852.2</td><td>68.2</td><td>3,003.9</td></tr><tr><td>1942-June</td><td>2,959.7</td><td>-86.6</td><td>401.8</td><td>-13.3</td><td>415.1</td><td>488.4</td><td></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>45.6</td><td></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>35.0</td><td></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>68.5</td><td></td></tr><tr><td>February</td><td>2,311.4</td><td>-52.8</td><td></td><td></td><td></td><td>52.8</td><td></td></tr><tr><td>March</td><td>1,487.2</td><td>-824.2</td><td></td><td></td><td></td><td>624.2</td><td></td></tr><tr><td>April</td><td>1,393.8</td><td>-93.4</td><td></td><td></td><td></td><td>93.4</td><td></td></tr><tr><td>May</td><td>1,349.7</td><td>-44.1</td><td></td><td></td><td></td><td>44.1</td><td></td></tr><tr><td>June</td><td>764.8</td><td>-584.9</td><td></td><td></td><td></td><td>584.9</td><td></td></tr><tr><td colspan="8">Series C</td></tr><tr><td>1943</td><td>6,464.0</td><td>+6,464.0</td><td>7,546.7</td><td>+106.1</td><td>7,440.7</td><td>1,082.7</td><td></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>.4</td><td></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>.8</td><td></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>27.4</td><td></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>18.5</td><td></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>25.5</td><td></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>353.1</td><td></td></tr><tr><td>April</td><td>6,092.6</td><td>+1,520.8</td><td>1,611.1</td><td>+6.0</td><td>1,605.1</td><td>90.3</td><td></td></tr><tr><td>May</td><td>6,510.6</td><td>+418.0</td><td>474.5</td><td>+5.8</td><td>468.7</td><td>56.5</td><td></td></tr><tr><td>June</td><td>6,464.0</td><td>-46.6</td><td>463.6</td><td>+14.8</td><td>448.8</td><td>510.2</td><td></td></tr></table>
Source: Daily Treasury Statement and reports of gross sales.
1/ Series A notes were sold from August 1, 1941 through June 22, 1943 and yield approximately 1.92 percent per annum. The maximum amount which may be used in payment of each class of tax (income, estate, or gift) by each taxpayer during each taxable year is limited to $5,000 per value. Commencing June 23, 1943, the notes may be redeemed for cash at the tax payment value current at the time of presentation. Series B notes were sold from August 1, 1941 through September 12, 1942. The yield on these notes is approximately .48 percent per annum, and the amount which may be turned in on taxes is
unlimited. If not presented in payment of taxes, the notes will be redeemed at the purchase price only. Series C notes (known as "Treasury tax savings notes" commencing June 23, 1943) 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. Sale of Tax Series Treasury notes began in August 1941.
46
Sales of Tax Series Treasury Notes - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="8">Sales in millions of dollars at par</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th colspan="4">$25 $50 $100 $500</th><th colspan="5">Denomination Thousands of dollars</th><th>Total all denominations</th><th colspan="4">$25 $50 $100 $500</th><th colspan="5">Denomination Thousands of dollars</th></tr><tr><th></th><th></th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th><th></th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th></tr><tr><td colspan="19">Series A</td></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></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>16.0</td><td></td><td></td><td></td><td></td></tr><tr><td>1943</td><td>331.2</td><td>4.3</td><td>7.7</td><td>55.8</td><td>63.0</td><td>147.4</td><td>52.9</td><td></td><td></td><td></td><td></td><td>100.0</td><td>1.3</td><td>2.3</td><td>16.8</td><td>19.0</td><td>44.5</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-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></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><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></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><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></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><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></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><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></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><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></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><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></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><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></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><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></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><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></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><td></td><td></td></tr><tr><td>Apr.</td><td>21.8</td><td>.3</td><td>.5</td><td>3.9</td><td>4.6</td><td>9.4</td><td>3.2</td><td></td><td></td><td></td><td></td><td>100.0</td><td>1.2</td><td>2.3</td><td>17.6</td><td>21.1</td><td>43.0</td><td>14.7</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>7.3</td><td>.1</td><td>.2</td><td>1.6</td><td>1.5</td><td>2.9</td><td>1.0</td><td></td><td></td><td></td><td></td><td>100.0</td><td>2.0</td><td>3.2</td><td>21.9</td><td>20.1</td><td>39.3</td><td>13.5</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>4.3</td><td>.1</td><td>.1</td><td>.9</td><td>.9</td><td>1.7</td><td>.5</td><td></td><td></td><td></td><td></td><td>100.0</td><td>1.8</td><td>3.1</td><td>21.8</td><td>21.0</td><td>39.6</td><td>12.7</td><td></td><td></td><td></td><td></td></tr></table>
Series B
<table><tr><td>1942 1/......</td><td>4,084.1</td><td>.....</td><td>6.9</td><td>14.7</td><td>148.5</td><td>566.7</td><td>1,391.8</td><td>366.5</td><td>1,589.0</td><td>100.0</td><td>....</td><td>....</td><td>.2</td><td>.4</td><td>3.6</td><td>.....</td><td>13.8</td><td>34.1</td><td>9.0</td><td>38.9</td></tr><tr><td>1943......</td><td>852.2</td><td>.....</td><td>1.6</td><td>3.4</td><td>35.8</td><td>158.6</td><td>338.8</td><td>140.0</td><td>174.0</td><td>100.0</td><td>....</td><td>....</td><td>.2</td><td>.4</td><td>4.2</td><td>.....</td><td>18.6</td><td>39.8</td><td>16.4</td><td>20.4</td></tr><tr><td>1942-June.....</td><td>415.1</td><td>.....</td><td>.6</td><td>1.1</td><td>13.8</td><td>65.5</td><td>148.6</td><td>55.5</td><td>130.0</td><td>100.0</td><td>....</td><td>....</td><td>.1</td><td>.3</td><td>3.3</td><td>.....</td><td>15.8</td><td>35.8</td><td>13.4</td><td>31.3</td></tr><tr><td>July......</td><td>376.2</td><td>.....</td><td>.7</td><td>1.5</td><td>15.9</td><td>71.4</td><td>150.8</td><td>81.0</td><td>55.0</td><td>100.0</td><td>....</td><td>....</td><td>.2</td><td>.4</td><td>4.2</td><td>.....</td><td>19.0</td><td>40.1</td><td>21.5</td><td>14.6</td></tr><tr><td>Aug......</td><td>394.2</td><td>.....</td><td>.7</td><td>1.4</td><td>16.0</td><td>74.1</td><td>172.5</td><td>37.5</td><td>92.0</td><td>100.0</td><td>....</td><td>....</td><td>.2</td><td>.4</td><td>4.1</td><td>.....</td><td>18.8</td><td>43.8</td><td>9.5</td><td>23.3</td></tr><tr><td>Sept......</td><td>81.8</td><td>.....</td><td>.3</td><td>.5</td><td>3.9</td><td>13.1</td><td>15.5</td><td>21.5</td><td>27.0</td><td>100.0</td><td>....</td><td>....</td><td>.3</td><td>.6</td><td>4.8</td><td>.....</td><td>16.0</td><td>19.0</td><td>26.3</td><td>33.0</td></tr></table>
Series C
<table><tr><td>1943</td><td>7,440.7</td><td></td><td>241.9</td><td>323.9</td><td>1,369.0</td><td>2,506.9</td><td>1,105.0</td><td>1,894.0</td><td>100.0</td><td></td><td>3.3</td><td>4.4</td><td>18.4</td><td>33.7</td><td>14.9</td><td>25.5</td></tr><tr><td>1942-Sept</td><td>806.1</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>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>19.8</td><td>31.6</td><td>150.1</td><td>297.2</td><td>146.5</td><td>224.0</td><td>100.0</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>744.5</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>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>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>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>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>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>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>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>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>2.3</td><td>3.1</td><td>15.3</td><td>28.5</td><td>18.2</td><td>32.6</td></tr><tr><td>Apr</td><td>1,605.1</td><td></td><td>82.0</td><td>89.1</td><td>339.2</td><td>595.8</td><td>283.0</td><td>276.0</td><td>100.0</td><td></td><td>5.1</td><td>5.6</td><td>21.1</td><td>37.1</td><td>13.9</td><td>17.2</td></tr><tr><td>May</td><td>468.7</td><td></td><td>20.4</td><td>22.8</td><td>90.1</td><td>150.4</td><td>69.0</td><td>116.0</td><td>100.0</td><td></td><td>4.4</td><td>4.9</td><td>19.2</td><td>32.1</td><td>14.7</td><td>24.7</td></tr><tr><td>June</td><td>448.8</td><td></td><td>10.3</td><td>14.6</td><td>74.8</td><td>170.6</td><td>76.5</td><td>102.0</td><td>100.0</td><td></td><td>2.3</td><td>3.2</td><td>16.7</td><td>38.0</td><td>17.0</td><td>22.7</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.
47
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>1943</td><td>8,624.1</td><td>923.4</td><td>7,700.6</td><td>100.0</td><td>10.7</td><td>89.3</td></tr><tr><td>1942-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>April</td><td>1,627.0</td><td>137.6</td><td>1,489.3</td><td>100.0</td><td>8.5</td><td>91.5</td></tr><tr><td>May</td><td>476.0</td><td>42.5</td><td>433.5</td><td>100.0</td><td>8.9</td><td>91.1</td></tr><tr><td>June</td><td>453.1</td><td>29.2</td><td>423.9</td><td>100.0</td><td>6.4</td><td>93.6</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>1943</td><td>331.2</td><td>253.5</td><td>77.6</td><td>100.0</td><td>76.6</td><td>23.4</td></tr><tr><td>1942-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>April</td><td>21.8</td><td>15.7</td><td>6.2</td><td>100.0</td><td>71.7</td><td>28.3</td></tr><tr><td>May</td><td>7.3</td><td>5.6</td><td>1.7</td><td>100.0</td><td>76.9</td><td>23.1</td></tr><tr><td>June</td><td>4.3</td><td>3.3</td><td>.9</td><td>100.0</td><td>78.2</td><td>21.8</td></tr><tr><td colspan="7">Series B</td></tr><tr><td>1942 1/</td><td>4,084.1</td><td>339.5</td><td>3,744.6</td><td>100.0</td><td>8.3</td><td>91.7</td></tr><tr><td>1943</td><td>852.2</td><td>63.5</td><td>788.7</td><td>100.0</td><td>7.5</td><td>92.5</td></tr><tr><td>1942-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>1943</td><td>7,440.7</td><td>606.3</td><td>6,834.3</td><td>100.0</td><td>8.1</td><td>91.9</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><tr><td>April</td><td>1,605.1</td><td>122.0</td><td>1,483.1</td><td>100.0</td><td>7.6</td><td>92.4</td></tr><tr><td>May</td><td>468.7</td><td>36.9</td><td>431.8</td><td>100.0</td><td>7.9</td><td>92.1</td></tr><tr><td>June</td><td>448.3</td><td>25.9</td><td>422.9</td><td>100.0</td><td>5.8</td><td>94.2</td></tr></table>
Source: Reports of gross sales. 1/ Sales of Tax Series Treasury notes began in August 1941.
48
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 colspan="2">Means of payment</th><th>Total</th><th colspan="2">Means of payment</th></tr><tr><th></th><th></th><th>Received for taxes</th><th>Cash redemptions</th><th></th><th>Received for taxes</th><th>Cash redemptions</th></tr></table>
All series
<table><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>1943</td><td>4,209.3</td><td>4,094.4</td><td>114.9</td><td>100.0</td><td>97.3</td><td>2.7</td></tr><tr><td>1942-June</td><td>492.1</td><td>485.2</td><td>6.9</td><td>100.0</td><td>93.6</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>April</td><td>196.0</td><td>176.6</td><td>19.5</td><td>100.0</td><td>90.1</td><td>9.9</td></tr><tr><td>May</td><td>101.8</td><td>97.0</td><td>4.8</td><td>100.0</td><td>95.3</td><td>4.7</td></tr><tr><td>June</td><td>1,135.6</td><td>1,119.8</td><td>15.8</td><td>100.0</td><td>98.6</td><td>1.4</td></tr></table>
Sortee A
<table><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>1943</td><td>122.7</td><td>114.0</td><td>8.7</td><td>100.0</td><td>92.9</td><td>7.1</td></tr><tr><td>1942-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>48.6</td><td>46.3</td><td>2.3</td><td>100.0</td><td>95.2</td><td>4.8</td></tr><tr><td>April</td><td>12.3</td><td>11.1</td><td>1.2</td><td>100.0</td><td>90.6</td><td>9.4</td></tr><tr><td>May</td><td>1.2</td><td>.4</td><td>.8</td><td>100.0</td><td>30.8</td><td>69.2</td></tr><tr><td>June</td><td>40.4</td><td>38.3</td><td>2.2</td><td>100.0</td><td>94.6</td><td>5.4</td></tr></table>
Series B
<table><tr><td>1942 1/ 1943</td><td>1,107.0 3,003.9</td><td>1,087.1 2,933.3</td><td>19.9 70.6</td><td>100.0 100.0</td><td>98.2 97.6</td><td>1.8 2.4</td></tr><tr><td>1942-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>824.2</td><td>822.0</td><td>2.2</td><td>100.0</td><td>99.7</td><td>.3</td></tr><tr><td>April</td><td>93.4</td><td>87.3</td><td>6.1</td><td>100.0</td><td>93.4</td><td>6.6</td></tr><tr><td>May</td><td>44.1</td><td>42.0</td><td>2.2</td><td>100.0</td><td>95.1</td><td>4.9</td></tr><tr><td>June</td><td>584.9</td><td>584.0</td><td>.9</td><td>100.0</td><td>99.9</td><td>.1</td></tr></table>
Series C 2/
<table><tr><td>1943.</td><td>1,082.7</td><td>1,047.2</td><td>35.6</td><td>100.0</td><td>96.7</td><td>3.3</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>* 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>* 3/</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><tr><td>April</td><td>90.3</td><td>78.2</td><td>12.2</td><td>100.0</td><td>86.5</td><td>13.5</td></tr><tr><td>May</td><td>56.5</td><td>54.7</td><td>1.8</td><td>100.0</td><td>96.8</td><td>3.2</td></tr><tr><td>June</td><td>510.2</td><td>497.5</td><td>12.8</td><td>100.0</td><td>97.5</td><td>2.5</td></tr></table>
Source: Daily Treasury Statements. Less than $50,000. 1/ Sale of Tax Series Treasury notes began in August 1941.
2/ Series C notes were first offered for sale on September 14, 1942, and may not be redeemed for cash until the sixth month after the date of issue.
3/ Special redemption.
OWNERSHIP OF GOVERNMENT SECURITIES
49
50
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="6">Securities issued by United States Government</th><th colspan="3">Securities guaranteed by United States 1/</th></tr><tr><th>Total amount out-standing</th><th colspan="3">U. S. Government agencies and trust funds 2/</th><th>Federal Reserve Banks 3/</th><th colspan="2">Private investors 4/</th><th>Total amount out-standing</th><th colspan="2">Distribution by classes of holders</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>Total public marketable issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>U. S. Government agencies and trust funds and Federal Reserve Banks 2/</th><th>Public marketable issues</th><th>Public non-marketable issues</th></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>681</td><td>150</td><td>531</td></tr><tr><td>1935</td><td>27,645</td><td>1,629</td><td>996</td><td>*</td><td>633</td><td>2,433</td><td>23,583</td><td>23,521</td><td>62</td><td>4,123</td><td>362</td><td>3,761</td></tr><tr><td>1936</td><td>32,989</td><td>1,945</td><td>1,319</td><td>*</td><td>626</td><td>2,430</td><td>28,614</td><td>27,353</td><td>1,261</td><td>4,718</td><td>375</td><td>4,343</td></tr><tr><td>1937</td><td>35,800</td><td>3,221</td><td>1,663</td><td>*</td><td>1,558</td><td>2,526</td><td>30,053</td><td>28,865</td><td>1,188</td><td>4,665</td><td>363</td><td>4,302</td></tr><tr><td>1938</td><td>36,576</td><td>4,452</td><td>1,776</td><td>*</td><td>2,676</td><td>2,584</td><td>29,560</td><td>28,004</td><td>1,556</td><td>4,853</td><td>325</td><td>4,528</td></tr><tr><td>1939</td><td>39,886</td><td>5,600</td><td>1,830</td><td>*</td><td>3,770</td><td>2,551</td><td>31,735</td><td>29,584</td><td>2,151</td><td>5,450</td><td>286</td><td>5,164</td></tr><tr><td>1940</td><td>42,376</td><td>6,792</td><td>2,017</td><td>*</td><td>4,775</td><td>2,458</td><td>33,126</td><td>29,961</td><td>3,166</td><td>5,498</td><td>287</td><td>5,211</td></tr><tr><td>1941</td><td>48,387</td><td>8,214</td><td>2,093</td><td>1</td><td>6,120</td><td>2,180</td><td>37,993</td><td>33,439</td><td>4,554</td><td>6,360</td><td>273</td><td>6,087</td></tr><tr><td>1942</td><td>71,968</td><td>10,330</td><td>2,442</td><td>3</td><td>7,885</td><td>2,640</td><td>58,998</td><td>45,491</td><td>13,507</td><td>4,549</td><td>286</td><td>4,263</td></tr><tr><td>1943</td><td>135,380</td><td>14,075 p</td><td>3,198 p</td><td>7 p</td><td>10,871</td><td>7,149</td><td>114,157p</td><td>84,964p</td><td>29,193p</td><td>4,092</td><td>268 p</td><td>3,755 p</td></tr><tr><td>1942-June</td><td>71,968</td><td>10,330</td><td>2,442</td><td>3</td><td>7,885</td><td>2,640</td><td>58,998</td><td>45,491</td><td>13,507</td><td>4,549</td><td>286</td><td>4,263</td></tr><tr><td>July</td><td>76,694</td><td>10,582</td><td>2,453</td><td>4</td><td>8,125</td><td>3,148</td><td>62,964</td><td>48,225</td><td>14,739</td><td>4,551</td><td>289</td><td>4,225</td></tr><tr><td>Aug.</td><td>81,244</td><td>10,854</td><td>2,588</td><td>4</td><td>8,265</td><td>3,421</td><td>66,969</td><td>51,167</td><td>15,801</td><td>4,567</td><td>297</td><td>4,217</td></tr><tr><td>Sept.</td><td>85,847</td><td>11,106</td><td>2,592</td><td>4</td><td>8,509</td><td>3,552</td><td>71,189</td><td>54,257</td><td>16,932</td><td>4,552</td><td>319</td><td>4,196</td></tr><tr><td>Oct.</td><td>92,265</td><td>11,198</td><td>2,609</td><td>4</td><td>8,585</td><td>4,049</td><td>76,417</td><td>57,750</td><td>18,667</td><td>4,243</td><td>326</td><td>3,870</td></tr><tr><td>Nov.</td><td>95,458</td><td>11,400</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></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></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>5,919</td><td>92,049</td><td>68,699</td><td>23,350</td><td>4,277</td><td>361</td><td>3,835</td></tr><tr><td>Feb.</td><td>112,851</td><td>12,197</td><td>2,826</td><td>6</td><td>9,555</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>3,893</td></tr><tr><td>Mar.</td><td>114,287</td><td>12,802</td><td>2,792</td><td>6</td><td>10,004</td><td>5,877</td><td>95,608</td><td>70,993</td><td>24,615</td><td>4,350</td><td>374</td><td>3,898</td></tr><tr><td>Apr.</td><td>128,683</td><td>13,002</td><td>3,201</td><td>6</td><td>9,795</td><td>6,400</td><td>103,240</td><td>81,791</td><td>27,449</td><td>4,363</td><td>304</td><td>3,884</td></tr><tr><td>May.</td><td>134,675</td><td>13,433</td><td>3,229</td><td>6</td><td>10,198</td><td>6,168</td><td>115,073</td><td>85,985</td><td>29,088</td><td>4,082</td><td>381</td><td>3,627</td></tr><tr><td>June.</td><td>135,380</td><td>14,075 p</td><td>3,198 p</td><td>7 p</td><td>10,871</td><td>7,149</td><td>114,157p</td><td>84,964p</td><td>29,193p</td><td>4,092</td><td>268 p</td><td>3,755 p</td></tr></table>
Source: (1) Total amounts outstanding: Daily Treasury Statements; (2) Securities held by U. S. Government agencies and trust funds: reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks: Federal Reserve System. Preliminary. p Less than $500,000. 1/ Excludes matured securities and obligations sold directly to the Treasury. 2/ Excludes Exchange Stabilization Fund. U. S. Government trust fund figures shown for June 30 of each year are as of the end of the
3/ Figures shown for June 30 of each year are as of the end of the month. Other figures are in part as of the Wednesday nearest the end of the month through May 1942; thereafter as of end of the month.
4/ The total amount of securities held by private investors is calculated by deducting from the total amount of securities outstanding, the securities held by U. S. Government agencies and trust funds and by Federal Reserve Banks.
Net Market Purchases or Sales of Government Securities for Treasury Investment Accounts
(In millions of dollars)
<table><tr><th></th><th colspan="12">Net market purchases or sales (-)</th></tr><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>36.5</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>-.9</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>.4</td><td>-35.2</td><td>-145.8</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 Stabilisation Fund.
51
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, May 31, 1943
The following tables present summary data from the Treasury survey, as of May 31, 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>Classification</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 6,974 institutions</th><th colspan="2">6,226 banks</th><th colspan="3">748 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,736 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></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>10,853</td><td>7,053</td><td>7,032</td><td>7,017</td><td>14</td><td>22</td><td>15</td><td>7</td><td>2,454</td><td>1,345</td></tr><tr><td>Certificates of indebtedness</td><td>16,561</td><td>10,200</td><td>9,937</td><td>9,759</td><td>178</td><td>263</td><td>68</td><td>196</td><td>1,148</td><td>5,213</td></tr><tr><td>Treasury notes</td><td>9,797</td><td>6,260</td><td>5,974</td><td>5,813</td><td>160</td><td>287</td><td>163</td><td>124</td><td>985</td><td>2,552</td></tr><tr><td>Treasury bonds</td><td>57,975</td><td>40,232</td><td>28,693</td><td>24,006</td><td>4,687</td><td>11,539</td><td>9,791</td><td>1,748</td><td>4,776</td><td>12,967</td></tr><tr><td>Other bonds</td><td>196</td><td>13</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>1</td><td>34</td><td>149</td></tr><tr><td>Guaranteed issues 3/</td><td>4,008</td><td>2,938</td><td>2,629</td><td>2,552</td><td>77</td><td>309</td><td>260</td><td>49</td><td>381</td><td>689</td></tr><tr><td>Total</td><td>99,390</td><td>66,698</td><td>54,276</td><td>49,159</td><td>5,117</td><td>12,422</td><td>10,297</td><td>2,124</td><td>9,778</td><td>22,914</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>35,468</td><td>20,665</td><td>19,977</td><td>19,644</td><td>333</td><td>688</td><td>359</td><td>329</td><td>4,670</td><td>10,133</td></tr><tr><td>1 to 5 years</td><td>18,182</td><td>13,652</td><td>11,826</td><td>11,152</td><td>674</td><td>1,826</td><td>1,405</td><td>421</td><td>1,899</td><td>2,630</td></tr><tr><td>5 to 10 years</td><td>25,389</td><td>19,252</td><td>16,352</td><td>14,375</td><td>1,977</td><td>2,900</td><td>2,328</td><td>571</td><td>1,290</td><td>4,247</td></tr><tr><td>10 to 15 years</td><td>6,447</td><td>4,186</td><td>2,817</td><td>2,376</td><td>442</td><td>1,369</td><td>1,083</td><td>286</td><td>612</td><td>1,649</td></tr><tr><td>15 to 20 years</td><td>4,572</td><td>3,244</td><td>1,095</td><td>801</td><td>294</td><td>2,149</td><td>1,857</td><td>292</td><td>368</td><td>960</td></tr><tr><td>Over 20 years</td><td>9,309</td><td>5,677</td><td>2,200</td><td>803</td><td>1,397</td><td>3,477</td><td>3,252</td><td>225</td><td>937</td><td>2,694</td></tr><tr><td>Federal Housing Administration debentures</td><td>23</td><td>21</td><td>7</td><td>6</td><td>1</td><td>14</td><td>13</td><td>*</td><td>1</td><td>2</td></tr><tr><td>Total</td><td>99,390</td><td>66,698</td><td>54,276</td><td>49,159</td><td>5,117</td><td>12,422</td><td>10,297</td><td>2,124</td><td>9,778</td><td>22,914</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>1,298</td><td>1,225</td><td>1,209</td><td>16</td><td>73</td><td>26</td><td>47</td><td>424</td><td>1,736</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>29,182</td><td>19,663</td><td>15,424</td><td>14,400</td><td>1,024</td><td>4,239</td><td>3,056</td><td>1,183</td><td>3,245</td><td>6,274</td></tr><tr><td>Subject to Federal income taxes</td><td>66,751</td><td>45,736</td><td>37,627</td><td>33,549</td><td>4,077</td><td>8,109</td><td>7,215</td><td>894</td><td>6,110</td><td>14,905</td></tr><tr><td>Total</td><td>99,390</td><td>66,698</td><td>54,276</td><td>49,159</td><td>5,117</td><td>12,422</td><td>10,297</td><td>2,124</td><td>9,778</td><td>22,914</td></tr></table>
(Continued on following page)
52
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, May 31, 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/ 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">Sold by all other investors</th></tr><tr><th>Total amount outstanding</th><th>Total 6,974 institutions</th><th colspan="3">6,226 banks</th><th colspan="3">743 insurance companies</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,735 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>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>10.9</td><td>10.6</td><td>13.0</td><td>14.3</td><td>.3</td><td>.2</td><td>.1</td><td>.3</td><td>25.1</td><td>5.9</td></tr><tr><td>Certificates of indebtedness</td><td>16.1</td><td>15.3</td><td>18.3</td><td>19.9</td><td>3.5</td><td>2.1</td><td>.7</td><td>9.2</td><td>11.7</td><td>22.7</td></tr><tr><td>Treasury notes</td><td>9.9</td><td>9.4</td><td>11.0</td><td>11.8</td><td>3.1</td><td>2.3</td><td>1.6</td><td>5.8</td><td>10.1</td><td>11.1</td></tr><tr><td>Treasury bonds</td><td>58.3</td><td>60.3</td><td>52.9</td><td>48.3</td><td>91.6</td><td>92.9</td><td>95.1</td><td>82.3</td><td>48.8</td><td>56.6</td></tr><tr><td>Other bonds</td><td>.2</td><td>.2</td><td>.4</td><td>.4</td><td>.1</td><td>.1</td><td>.1</td><td>.1</td><td>.3</td><td>.6</td></tr><tr><td>Guaranteed issues 3/</td><td>4.0</td><td>4.4</td><td>4.8</td><td>5.2</td><td>1.5</td><td>2.5</td><td>2.5</td><td>2.1</td><td>3.9</td><td>3.0</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>35.7</td><td>31.0</td><td>36.8</td><td>40.0</td><td>6.5</td><td>5.5</td><td>3.5</td><td>15.5</td><td>47.8</td><td>44.2</td></tr><tr><td>1 to 5 years</td><td>18.7</td><td>20.5</td><td>21.8</td><td>22.7</td><td>13.2</td><td>14.7</td><td>13.6</td><td>19.8</td><td>19.4</td><td>11.5</td></tr><tr><td>5 to 10 years</td><td>25.5</td><td>28.9</td><td>30.1</td><td>29.2</td><td>38.6</td><td>23.3</td><td>22.6</td><td>26.9</td><td>13.2</td><td>21.2</td></tr><tr><td>10 to 15 years</td><td>6.5</td><td>6.3</td><td>5.2</td><td>4.8</td><td>8.6</td><td>11.0</td><td>10.5</td><td>13.4</td><td>6.3</td><td>7.2</td></tr><tr><td>15 to 20 years</td><td>4.6</td><td>4.9</td><td>2.0</td><td>1.6</td><td>5.7</td><td>17.3</td><td>18.0</td><td>13.8</td><td>3.8</td><td>4.2</td></tr><tr><td>Over 20 years</td><td>9.4</td><td>8.5</td><td>4.1</td><td>1.6</td><td>27.3</td><td>28.0</td><td>31.6</td><td>10.6</td><td>9.6</td><td>11.8</td></tr><tr><td>Federal Housing Administration debentures</td><td></td><td></td><td>.1</td><td>.1</td><td>.1</td><td>.1</td><td>.1</td><td>.1</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>3.5</td><td>1.9</td><td>2.3</td><td>2.5</td><td>.3</td><td>.6</td><td>.3</td><td>2.2</td><td>4.3</td><td>7.6</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>29.4</td><td>29.5</td><td>28.4</td><td>29.3</td><td>20.0</td><td>34.1</td><td>29.7</td><td>55.7</td><td>33.2</td><td>27.4</td></tr><tr><td>Subject to Federal income taxes</td><td>67.2</td><td>68.6</td><td>69.3</td><td>68.2</td><td>79.7</td><td>65.3</td><td>70.1</td><td>42.1</td><td>62.5</td><td>65.0</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr></table>
PART C - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="7">Public marketable interest-bearing securities 1/ Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 6,974 institutions</th><th colspan="3">6,226 banks</th><th colspan="3">748 insurance companies</th></tr><tr><th></th><th></th><th>Total</th><th>5.736 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>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 leased 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>65.0</td><td>64.8</td><td>64.7</td><td>.1</td><td>.2</td><td>.1</td><td>.1</td><td>22.6</td><td>12.4</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>61.6</td><td>60.0</td><td>58.9</td><td>1.1</td><td>1.6</td><td>.4</td><td>1.2</td><td>6.9</td><td>31.5</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>63.9</td><td>61.0</td><td>59.3</td><td>1.6</td><td>2.9</td><td>1.7</td><td>1.3</td><td>10.1</td><td>26.0</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>69.4</td><td>49.5</td><td>41.4</td><td>8.1</td><td>19.9</td><td>16.9</td><td>3.0</td><td>8.2</td><td>22.4</td></tr><tr><td>Other bonds</td><td>100.0</td><td>6.8</td><td>6.4</td><td>6.2</td><td>.2</td><td>.5</td><td>.1</td><td>.4</td><td>17.2</td><td>17.0</td></tr><tr><td>Guaranteed leases 3/</td><td>100.0</td><td>73.3</td><td>65.6</td><td>63.7</td><td>1.9</td><td>7.7</td><td>6.5</td><td>1.2</td><td>9.5</td><td>17.2</td></tr><tr><td>Total</td><td>100.0</td><td>67.1</td><td>54.6</td><td>49.5</td><td>5.1</td><td>12.5</td><td>10.4</td><td>2.1</td><td>9.8</td><td>23.1</td></tr><tr><td>II. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>100.0</td><td>58.3</td><td>56.3</td><td>55.4</td><td>.9</td><td>1.9</td><td>1.0</td><td>.9</td><td>13.2</td><td>28.6</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>75.1</td><td>65.0</td><td>61.3</td><td>3.7</td><td>10.0</td><td>7.7</td><td>2.3</td><td>10.4</td><td>14.5</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>75.8</td><td>64.4</td><td>56.6</td><td>7.8</td><td>11.4</td><td>9.2</td><td>2.3</td><td>5.1</td><td>19.1</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>64.9</td><td>43.7</td><td>36.9</td><td>6.8</td><td>21.2</td><td>16.8</td><td>1.4</td><td>9.5</td><td>25.6</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>70.9</td><td>23.9</td><td>17.5</td><td>6.4</td><td>47.0</td><td>40.6</td><td>6.4</td><td>8.1</td><td>21.0</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>61.0</td><td>23.6</td><td>8.6</td><td>15.0</td><td>37.4</td><td>34.9</td><td>2.4</td><td>10.1</td><td>28.9</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>88.2</td><td>30.4</td><td>27.7</td><td>2.7</td><td>57.8</td><td>57.5</td><td>.3</td><td>5.1</td><td>6.7</td></tr><tr><td>Total</td><td>100.0</td><td>67.1</td><td>54.6</td><td>49.5</td><td>5.1</td><td>12.5</td><td>10.4</td><td>2.1</td><td>9.8</td><td>23.1</td></tr><tr><td>III. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 4/</td><td>100.0</td><td>37.5</td><td>35.4</td><td>35.0</td><td>.5</td><td>2.1</td><td>.8</td><td>1.4</td><td>12.3</td><td>50.2</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>100.0</td><td>67.4</td><td>52.9</td><td>49.3</td><td>3.5</td><td>14.5</td><td>10.5</td><td>4.1</td><td>11.1</td><td>21.5</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>68.5</td><td>56.4</td><td>50.3</td><td>6.1</td><td>12.1</td><td>10.8</td><td>1.3</td><td>9.2</td><td>22.1</td></tr><tr><td>Total</td><td>100.0</td><td>67.1</td><td>54.6</td><td>49.5</td><td>5.1</td><td>12.5</td><td>10.4</td><td>2.1</td><td>9.8</td><td>23.1</td></tr></table>
Less than $500,000 or less than .05%.
1/ Public marketable interest-bearing securities include all interest-bearing securities outstanding except (1) special issues to Government agencies and trust funds, (2) adjusted service bonds, (3) depository bonds, (4) United States savings bonds, and (5) tax series notes and (6) Commodity Credit Corporation demand obligations. Such obligations were held by institutions reporting, as follows: (1) depository bonds; commercial banks, $177 millions; (2) United States savings bonds; commercial banks, $195 millions; mutual savings banks, $105 millions; insurance companies, $139 millions; all institutions, $439 millions; (3) tax series notes; commercial banks, $54 millions; insurance companies, $33 millions; all
institutions, $85 millions; (4) Commodity Credit Corporation demand obligations; holdings of those 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 curter rates of the Federal income tax.)
53
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, May 31, 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 out-standing</th><th>Total 6,974 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>6,226 banks</th><th>748 insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total 5,736 commercial banks</th><th>490 mutual savings banks</th><th>Total 198 life insurance companies</th><th></th><th></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></tr><tr><td>Treasury notes</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>300</td><td>288</td><td>283</td><td>4</td><td>12</td><td>2</td><td>10</td><td>54</td><td>275</td></tr><tr><td>1% September 1943</td><td>279</td><td>116</td><td>113</td><td>112</td><td>2</td><td>3</td><td>2</td><td>2</td><td>32</td><td>132</td></tr><tr><td>1-1/8% December 1943</td><td>421</td><td>114</td><td>118</td><td>115</td><td>2</td><td>26</td><td>21</td><td>5</td><td>36</td><td>241</td></tr><tr><td>1% March 1944</td><td>515</td><td>214</td><td>208</td><td>206</td><td>2</td><td>6</td><td>6</td><td>6</td><td>95</td><td>207</td></tr><tr><td>3/4% June 1944</td><td>416</td><td>162</td><td>155</td><td>153</td><td>1</td><td>7</td><td>2</td><td>5</td><td>64</td><td>190</td></tr><tr><td>1% September 1944</td><td>283</td><td>35</td><td>34</td><td>32</td><td>2</td><td>1</td><td>1</td><td>1</td><td>34</td><td>214</td></tr><tr><td>3/4% March 1945</td><td>718</td><td>314</td><td>298</td><td>295</td><td>3</td><td>16</td><td>16</td><td>16</td><td>76</td><td>328</td></tr><tr><td>Total Treasury notes</td><td>3,261</td><td>1,285</td><td>1,213</td><td>1,197</td><td>16</td><td>72</td><td>26</td><td>46</td><td>390</td><td>1,587</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>12</td><td>11</td><td>1</td><td>1</td><td>1</td><td>1</td><td>34</td><td>71</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>1</td><td>1</td><td>1</td><td></td><td></td><td></td><td></td><td></td><td>29</td></tr><tr><td>Total bonds</td><td>196</td><td>13</td><td>12</td><td>12</td><td>1</td><td>1</td><td>1</td><td>1</td><td>34</td><td>149</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>3,457</td><td>1,298</td><td>1,225</td><td>1,209</td><td>16</td><td>73</td><td>26</td><td>47</td><td>424</td><td>1,736</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>454</td><td>225</td><td>210</td><td>194</td><td>16</td><td>15</td><td>9</td><td>6</td><td>107</td><td>123</td></tr><tr><td>3-1/4% October 1944-49</td><td>1,401</td><td>751</td><td>662</td><td>616</td><td>46</td><td>89</td><td>56</td><td>33</td><td>186</td><td>464</td></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>779</td><td>578</td><td>531</td><td>47</td><td>201</td><td>156</td><td>44</td><td>275</td><td>465</td></tr><tr><td>1% December 1944-51</td><td>1,037</td><td>623</td><td>488</td><td>444</td><td>44</td><td>135</td><td>101</td><td>34</td><td>118</td><td>296</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>769</td><td>571</td><td>520</td><td>50</td><td>198</td><td>161</td><td>38</td><td>166</td><td>279</td></tr><tr><td>2-1/2% December 1945</td><td>541</td><td>429</td><td>371</td><td>354</td><td>17</td><td>58</td><td>28</td><td>29</td><td>19</td><td>93</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>315</td><td>214</td><td>194</td><td>19</td><td>101</td><td>87</td><td>14</td><td>70</td><td>104</td></tr><tr><td>3% June 1946-48</td><td>1,036</td><td>638</td><td>466</td><td>415</td><td>51</td><td>172</td><td>141</td><td>31</td><td>205</td><td>193</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>491</td><td>361</td><td>322</td><td>38</td><td>131</td><td>108</td><td>23</td><td>88</td><td>240</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>421</td><td>308</td><td>269</td><td>40</td><td>113</td><td>71</td><td>42</td><td>82</td><td>255</td></tr><tr><td>2% December 1947</td><td>701</td><td>605</td><td>568</td><td>558</td><td>10</td><td>36</td><td>5</td><td>31</td><td>1</td><td>95</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,223</td><td>945</td><td>763</td><td>718</td><td>45</td><td>182</td><td>148</td><td>34</td><td>163</td><td>116</td></tr><tr><td>2-1/2% September 1948</td><td>451</td><td>393</td><td>353</td><td>346</td><td>7</td><td>39</td><td>25</td><td>15</td><td>5</td><td>54</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>471</td><td>441</td><td>435</td><td>5</td><td>30</td><td>6</td><td>24</td><td>50</td><td>50</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>378</td><td>285</td><td>255</td><td>30</td><td>92</td><td>56</td><td>37</td><td>45</td><td>69</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,290</td><td>1,180</td><td>1,130</td><td>50</td><td>110</td><td>50</td><td>60</td><td>245</td><td>251</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>926</td><td>778</td><td>720</td><td>59</td><td>147</td><td>96</td><td>51</td><td>119</td><td>141</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,244</td><td>933</td><td>835</td><td>98</td><td>311</td><td>234</td><td>76</td><td>176</td><td>207</td></tr><tr><td>3% September 1951-55</td><td>755</td><td>349</td><td>267</td><td>233</td><td>33</td><td>83</td><td>56</td><td>27</td><td>95</td><td>311</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>871</td><td>816</td><td>796</td><td>20</td><td>54</td><td>26</td><td>28</td><td>122</td><td>125</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>646</td><td>619</td><td>609</td><td>10</td><td>27</td><td>2</td><td>25</td><td>19</td><td>60</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>542</td><td>441</td><td>431</td><td>10</td><td>101</td><td>64</td><td>37</td><td>46</td><td>93</td></tr><tr><td>2-7/8% March 1955-56</td><td>2,611</td><td>1,270</td><td>789</td><td>706</td><td>84</td><td>481</td><td>352</td><td>128</td><td>365</td><td>976</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>668</td><td>431</td><td>397</td><td>34</td><td>237</td><td>162</td><td>76</td><td>135</td><td>179</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>704</td><td>338</td><td>301</td><td>37</td><td>166</td><td>288</td><td>78</td><td>71</td><td>144</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,035</td><td>567</td><td>499</td><td>68</td><td>468</td><td>334</td><td>134</td><td>114</td><td>336</td></tr><tr><td>Total Treasury bonds</td><td>26,581</td><td>17,175</td><td>13,798</td><td>12,831</td><td>966</td><td>3,977</td><td>2,823</td><td>1,155</td><td>3,087</td><td>5,712</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>Federal Farm Mortgage Corporation</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-1/4% March 1944-64</td><td>95</td><td>65</td><td>38</td><td>27</td><td>11</td><td>27</td><td>26</td><td>2</td><td>3</td><td>26</td></tr><tr><td>3% May 1944-49</td><td>835</td><td>565</td><td>461</td><td>448</td><td>11</td><td>104</td><td>94</td><td>10</td><td>63</td><td>207</td></tr><tr><td>Federal Housing Administration debentures</td><td>23</td><td>21</td><td>7</td><td>6</td><td>1</td><td>14</td><td>13</td><td>1</td><td>1</td><td>2</td></tr><tr><td>Home Owners' Loan Corporation</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% May 1944-52</td><td>779</td><td>464</td><td>395</td><td>369</td><td>26</td><td>69</td><td>62</td><td>8</td><td>87</td><td>227</td></tr><tr><td>1-1/2% June 1945-47</td><td>755</td><td>677</td><td>632</td><td>625</td><td>7</td><td>45</td><td>38</td><td>7</td><td>3</td><td>75</td></tr><tr><td>Federal Public Housing Authority</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-3/8% February 1944</td><td>114</td><td>96</td><td>94</td><td>93</td><td>2</td><td>2</td><td>2</td><td>2</td><td>19</td><td></td></tr><tr><td>Total guaranteed issues</td><td>2,601</td><td>1,888</td><td>1,626</td><td>1,569</td><td>57</td><td>262</td><td>233</td><td>29</td><td>158</td><td>555</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>29,182</td><td>19,663</td><td>15,424</td><td>14,400</td><td>1,024</td><td>4,239</td><td>3,056</td><td>1,183</td><td>3,245</td><td>6,274</td></tr></table>
(Continued on following page)
54
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, May 31, 1943 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART A - PAR VALUES IN MILLIONS OF DOLLARS-(Continued)
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th 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 6,974 institutions</th><th colspan="2">6,226 banks</th><th colspan="3">748 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,736 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>III. Subject to Federal income taxes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>10,853</td><td>7,053</td><td>7,032</td><td>7,017</td><td>14</td><td>22</td><td>15</td><td>7</td><td>2,454</td><td>1,145</td></tr><tr><td>Certificates 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>7/8% August 1943</td><td>1,609</td><td>1,025</td><td>1,008</td><td>1,001</td><td>7</td><td>17</td><td>2</td><td>16</td><td>284</td><td>301</td></tr><tr><td>7/8% November 1943</td><td>2,035</td><td>1,331</td><td>1,305</td><td>1,293</td><td>12</td><td>26</td><td>2</td><td>24</td><td>381</td><td>324</td></tr><tr><td>7/8% December 1943</td><td>3,800</td><td>2,484</td><td>2,439</td><td>2,417</td><td>22</td><td>44</td><td>4</td><td>40</td><td>152</td><td>1,165</td></tr><tr><td>7/8% February 1944</td><td>2,211</td><td>1,613</td><td>1,560</td><td>1,527</td><td>34</td><td>53</td><td>11</td><td>42</td><td>31</td><td>567</td></tr><tr><td>7/8% April 1944</td><td>5,251</td><td>2,454</td><td>2,351</td><td>2,254</td><td>97</td><td>103</td><td>37</td><td>66</td><td>54</td><td>2,743</td></tr><tr><td>7/8% May 1944</td><td>1,655</td><td>1,294</td><td>1,274</td><td>1,267</td><td>7</td><td>20</td><td>12</td><td>8</td><td>248</td><td>113</td></tr><tr><td>Total certificates of indebtedness</td><td>16,561</td><td>10,200</td><td>9,937</td><td>9,759</td><td>178</td><td>263</td><td>68</td><td>196</td><td>1,148</td><td>5,213</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% September 1944</td><td>635</td><td>507</td><td>478</td><td>463</td><td>14</td><td>29</td><td>22</td><td>7</td><td>13</td><td>116</td></tr><tr><td>1-1/4% March 1945</td><td>1,606</td><td>1,095</td><td>1,041</td><td>1,013</td><td>28</td><td>54</td><td>36</td><td>18</td><td>178</td><td>333</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>439</td><td>409</td><td>396</td><td>13</td><td>30</td><td>20</td><td>10</td><td>18</td><td>74</td></tr><tr><td>1% March 1946</td><td>503</td><td>433</td><td>402</td><td>388</td><td>14</td><td>31</td><td>24</td><td>7</td><td>7</td><td>63</td></tr><tr><td>1-1/2% December 1946</td><td>3,261</td><td>2,502</td><td>2,431</td><td>2,354</td><td>76</td><td>71</td><td>36</td><td>35</td><td>379</td><td>380</td></tr><tr><td>Total Treasury notes</td><td>6,536</td><td>4,976</td><td>4,761</td><td>4,616</td><td>145</td><td>215</td><td>137</td><td>78</td><td>595</td><td>965</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>884</td><td>670</td><td>515</td><td>155</td><td>214</td><td>200</td><td>15</td><td>88</td><td>144</td></tr><tr><td>1-3/4% June 1948</td><td>3,062</td><td>2,448</td><td>2,212</td><td>2,131</td><td>80</td><td>237</td><td>186</td><td>50</td><td>7</td><td>606</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>862</td><td>707</td><td>596</td><td>111</td><td>155</td><td>140</td><td>15</td><td>83</td><td>68</td></tr><tr><td>2% September 1949-51</td><td>1,292</td><td>1,094</td><td>969</td><td>837</td><td>132</td><td>125</td><td>108</td><td>17</td><td>42</td><td>156</td></tr><tr><td>2% December 1949-51</td><td>2,098</td><td>1,674</td><td>1,476</td><td>1,331</td><td>115</td><td>198</td><td>177</td><td>22</td><td>33</td><td>391</td></tr><tr><td>2% March 1950-52</td><td>1,963</td><td>1,741</td><td>1,503</td><td>1,407</td><td>96</td><td>237</td><td>209</td><td>28</td><td>37</td><td>185</td></tr><tr><td>2% September 1950-52</td><td>4,939</td><td>3,226</td><td>2,567</td><td>2,126</td><td>441</td><td>659</td><td>581</td><td>78</td><td>46</td><td>1,667</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>391</td><td>357</td><td>339</td><td>17</td><td>34</td><td>26</td><td>9</td><td>22</td><td>98</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>706</td><td>564</td><td>246</td><td>317</td><td>142</td><td>130</td><td>11</td><td>88</td><td>230</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,190</td><td>944</td><td>609</td><td>335</td><td>246</td><td>222</td><td>24</td><td>75</td><td>236</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,061</td><td>538</td><td>233</td><td>305</td><td>522</td><td>503</td><td>20</td><td>47</td><td>341</td></tr><tr><td>2-1/2% June 1962-67</td><td>2,118</td><td>1,504</td><td>189</td><td>-</td><td>189</td><td>1,315</td><td>1,234</td><td>81</td><td>183</td><td>431</td></tr><tr><td>2-1/2% December 1963-68</td><td>2,831</td><td>1,862</td><td>501</td><td>-</td><td>501</td><td>1,361</td><td>1,292</td><td>70</td><td>267</td><td>702</td></tr><tr><td>2-1/2% June 1964-69</td><td>3,762</td><td>2,104</td><td>576</td><td>-</td><td>576</td><td>1,528</td><td>1,431</td><td>97</td><td>379</td><td>1,279</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,711</td><td>1,123</td><td>803</td><td>320</td><td>588</td><td>529</td><td>59</td><td>291</td><td>713</td></tr><tr><td>Total Treasury bonds</td><td>31,394</td><td>22,457</td><td>14,895</td><td>11,175</td><td>3,721</td><td>7,562</td><td>6,968</td><td>594</td><td>1,689</td><td>7,248</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>313</td><td>304</td><td>9</td><td>27</td><td>22</td><td>5</td><td>27</td><td>45</td></tr><tr><td>Reconstruction Finance Corporation 1-1/8% July 1943</td><td>324</td><td>268</td><td>259</td><td>256</td><td>3</td><td>9</td><td>1</td><td>7</td><td>21</td><td>36</td></tr><tr><td>1% April 1944</td><td>571</td><td>443</td><td>430</td><td>423</td><td>7</td><td>12</td><td>4</td><td>8</td><td>76</td><td>53</td></tr><tr><td>1% January 1945</td><td>100</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100</td><td>-</td></tr><tr><td>Total guaranteed issues</td><td>1,407</td><td>1,050</td><td>1,002</td><td>983</td><td>20</td><td>47</td><td>27</td><td>20</td><td>223</td><td>134</td></tr><tr><td>Total subject to Federal income taxes</td><td>66,751</td><td>45,736</td><td>37,627</td><td>33,549</td><td>4,078</td><td>8,109</td><td>7,215</td><td>894</td><td>6,110</td><td>14,905</td></tr><tr><td>IV. Grand total</td><td>99,390</td><td>66,698</td><td>54,276</td><td>49,159</td><td>5,117</td><td>12,422</td><td>10,297</td><td>2,124</td><td>9,178</td><td>22,914</td></tr></table>
(Continued on following page)
55
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, May 31, 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>Total 6,974 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="3">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th>6,226 banks</th><th>5,736 commercial banks</th><th>490 mutual savings banks</th><th>748 insurance companies</th><th>198 life insurance companies</th><th>550 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td colspan="10">I. Wholly exempt from Federal income taxes 3/</td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/8% June 1943</td><td>100.0</td><td>47.7</td><td>45.7</td><td>45.0</td><td>.7</td><td>2.0</td><td>.3</td><td>1.6</td><td>8.6</td><td>43.7</td></tr><tr><td>1% September 1943</td><td>100.0</td><td>41.5</td><td>40.6</td><td>39.9</td><td>.6</td><td>1.0</td><td>.1</td><td>.9</td><td>11.3</td><td>47.2</td></tr><tr><td>1-1/8% December 1943</td><td>100.0</td><td>34.1</td><td>27.9</td><td>27.4</td><td>.5</td><td>6.2</td><td>4.9</td><td>1.3</td><td>8.6</td><td>57.3</td></tr><tr><td>1% March 1944</td><td>100.0</td><td>41.6</td><td>40.3</td><td>40.0</td><td>.3</td><td>1.2</td><td>*</td><td>1.2</td><td>18.3</td><td>40.1</td></tr><tr><td>3/4% June 1944</td><td>100.0</td><td>39.0</td><td>37.2</td><td>36.9</td><td>.3</td><td>1.8</td><td>.6</td><td>1.2</td><td>15.3</td><td>45.7</td></tr><tr><td>1% September 1944</td><td>100.0</td><td>12.4</td><td>12.1</td><td>11.4</td><td>.7</td><td>.3</td><td>-</td><td>.3</td><td>12.2</td><td>75.5</td></tr><tr><td>3/4% March 1945</td><td>100.0</td><td>43.7</td><td>41.5</td><td>41.1</td><td>.4</td><td>2.3</td><td>-</td><td>2.3</td><td>10.6</td><td>45.7</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>39.4</td><td>37.2</td><td>36.7</td><td>.5</td><td>2.2</td><td>.8</td><td>1.4</td><td>12.0</td><td>48.7</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>10.6</td><td>10.0</td><td>9.7</td><td>.3</td><td>.6</td><td>.1</td><td>.5</td><td>28.7</td><td>60.7</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.3</td><td>1.0</td><td>1.0</td><td>-</td><td>.3</td><td>.2</td><td>.1</td><td>-</td><td>98.7</td></tr><tr><td>Conversion</td><td>100.0</td><td>1.1</td><td>1.0</td><td>1.0</td><td>-</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>98.9</td></tr><tr><td>Total bonds</td><td>100.0</td><td>6.8</td><td>6.4</td><td>6.2</td><td>.2</td><td>.5</td><td>.1</td><td>.4</td><td>17.2</td><td>76.0</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>37.5</td><td>35.4</td><td>35.0</td><td>.5</td><td>2.1</td><td>.8</td><td>1.4</td><td>12.3</td><td>50.2</td></tr><tr><td colspan="10">II. Partially exempt from Federal income taxes 4/</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-3/8% June 1943-47</td><td>100.0</td><td>49.5</td><td>46.2</td><td>42.7</td><td>3.5</td><td>3.2</td><td>1.9</td><td>1.3</td><td>23.5</td><td>27.0</td></tr><tr><td>3-1/4% October 1943-45</td><td>100.0</td><td>53.6</td><td>47.3</td><td>44.0</td><td>3.3</td><td>6.3</td><td>4.0</td><td>2.3</td><td>13.3</td><td>33.1</td></tr><tr><td>3-1/4% April 1944-46</td><td>100.0</td><td>51.3</td><td>38.1</td><td>35.0</td><td>3.1</td><td>13.2</td><td>10.3</td><td>2.9</td><td>18.1</td><td>30.6</td></tr><tr><td>4% December 1944-50</td><td>100.0</td><td>60.1</td><td>47.0</td><td>42.8</td><td>4.2</td><td>13.0</td><td>9.8</td><td>3.3</td><td>11.4</td><td>28.5</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>63.3</td><td>47.0</td><td>42.9</td><td>4.2</td><td>16.3</td><td>13.2</td><td>3.1</td><td>13.7</td><td>23.0</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>79.3</td><td>62.6</td><td>65.5</td><td>3.1</td><td>10.7</td><td>5.3</td><td>5.4</td><td>3.6</td><td>17.1</td></tr><tr><td>3-3/4% March 1946-56</td><td>100.0</td><td>64.4</td><td>47.7</td><td>39.7</td><td>4.0</td><td>20.7</td><td>17.9</td><td>2.8</td><td>14.3</td><td>21.3</td></tr><tr><td>3% June 1946-48</td><td>100.0</td><td>61.6</td><td>45.0</td><td>40.1</td><td>4.9</td><td>16.6</td><td>13.6</td><td>3.0</td><td>19.8</td><td>18.6</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>60.0</td><td>44.1</td><td>39.4</td><td>4.7</td><td>15.9</td><td>13.2</td><td>2.8</td><td>10.7</td><td>29.3</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>55.5</td><td>40.6</td><td>35.4</td><td>5.2</td><td>14.9</td><td>9.4</td><td>5.5</td><td>10.9</td><td>33.6</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>85.2</td><td>81.0</td><td>79.6</td><td>1.4</td><td>5.2</td><td>.8</td><td>4.4</td><td>.2</td><td>13.6</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>77.2</td><td>62.3</td><td>58.6</td><td>3.7</td><td>14.9</td><td>12.1</td><td>2.8</td><td>13.3</td><td>9.5</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>87.1</td><td>78.4</td><td>76.8</td><td>1.6</td><td>8.7</td><td>5.4</td><td>3.3</td><td>1.0</td><td>11.9</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>82.4</td><td>77.1</td><td>76.2</td><td>1.0</td><td>5.3</td><td>1.1</td><td>4.1</td><td>8.8</td><td>8.8</td></tr><tr><td>3-1/8% December 1949-52</td><td>100.0</td><td>76.9</td><td>58.1</td><td>51.9</td><td>6.2</td><td>18.8</td><td>11.4</td><td>7.5</td><td>9.1</td><td>14.0</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>72.2</td><td>66.1</td><td>63.3</td><td>2.8</td><td>6.1</td><td>2.8</td><td>3.4</td><td>13.7</td><td>14.1</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>78.0</td><td>65.6</td><td>60.7</td><td>5.0</td><td>12.4</td><td>8.1</td><td>4.3</td><td>10.0</td><td>11.9</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>76.5</td><td>57.4</td><td>51.4</td><td>6.0</td><td>19.1</td><td>14.4</td><td>4.7</td><td>10.8</td><td>12.7</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>46.2</td><td>35.3</td><td>30.9</td><td>4.4</td><td>11.0</td><td>7.4</td><td>3.6</td><td>12.6</td><td>41.2</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>17.9</td><td>73.0</td><td>71.2</td><td>1.8</td><td>4.9</td><td>2.3</td><td>2.5</td><td>10.9</td><td>11.2</td></tr><tr><td>2% June 1953-55</td><td>100.0</td><td>89.1</td><td>85.4</td><td>84.0</td><td>1.3</td><td>3.7</td><td>3.3</td><td>3.4</td><td>2.6</td><td>8.3</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>79.6</td><td>64.8</td><td>63.4</td><td>1.4</td><td>14.8</td><td>9.4</td><td>5.5</td><td>6.7</td><td>13.7</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>48.6</td><td>30.2</td><td>27.0</td><td>3.2</td><td>18.4</td><td>13.5</td><td>4.9</td><td>14.0</td><td>37.4</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>68.0</td><td>43.9</td><td>40.4</td><td>3.4</td><td>24.2</td><td>16.5</td><td>7.7</td><td>13.7</td><td>18.2</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>76.6</td><td>36.8</td><td>32.8</td><td>4.0</td><td>39.8</td><td>31.4</td><td>8.5</td><td>7.7</td><td>15.6</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>69.7</td><td>38.2</td><td>33.6</td><td>4.6</td><td>31.5</td><td>22.5</td><td>9.0</td><td>7.7</td><td>22.6</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>66.9</td><td>51.9</td><td>48.3</td><td>3.6</td><td>15.0</td><td>10.6</td><td>4.3</td><td>11.6</td><td>21.5</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>Federal Farm Mortgage Corporation</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-1/4% March 1944-64</td><td>100.0</td><td>69.0</td><td>40.0</td><td>28.3</td><td>11.7</td><td>29.0</td><td>27.2</td><td>1.7</td><td>3.5</td><td>27.5</td></tr><tr><td>3% May 1944-49</td><td>100.0</td><td>67.7</td><td>55.2</td><td>53.6</td><td>1.5</td><td>12.5</td><td>11.3</td><td>1.2</td><td>7.6</td><td>24.7</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>88.2</td><td>30.4</td><td>27.7</td><td>2.7</td><td>57.8</td><td>57.5</td><td>.3</td><td>5.1</td><td>6.7</td></tr><tr><td>Home Owners' Loan Corporation</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% May 1944-52</td><td>100.0</td><td>59.6</td><td>50.7</td><td>47.4</td><td>3.3</td><td>8.9</td><td>7.9</td><td>1.0</td><td>11.2</td><td>29.2</td></tr><tr><td>1-1/2% June 1945-47</td><td>100.0</td><td>89.7</td><td>83.7</td><td>82.8</td><td>.9</td><td>6.0</td><td>5.0</td><td>1.0</td><td>.4</td><td>10.0</td></tr><tr><td>Federal Public Housing Authority</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-3/8% February 1944</td><td>100.0</td><td>83.7</td><td>81.9</td><td>81.7</td><td>.2</td><td>1.8</td><td>.4</td><td>1.3</td><td>*</td><td>16.3</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>72.6</td><td>62.5</td><td>60.3</td><td>2.2</td><td>10.1</td><td>9.0</td><td>1.1</td><td>6.1</td><td>21.4</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>67.4</td><td>52.9</td><td>49.7</td><td>3.5</td><td>14.5</td><td>10.5</td><td>4.1</td><td>11.1</td><td>21.5</td></tr></table>
(Continued on following page)
56
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, May 31, 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 outstanding</th><th>Total 6,974 institutions</th><th colspan="5">Beld by banks and insurance companies covered in Treasury survey</th><th>Hold by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Hold by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="3">6,226 banks</th><th colspan="3">748 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>5,736 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>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>65.0</td><td>64.8</td><td>64.7</td><td>.1</td><td>.2</td><td>.1</td><td>.1</td><td>22.6</td><td>12.4</td></tr><tr><td>Certificates 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>7/8% August 1943</td><td>100.0</td><td>63.7</td><td>62.6</td><td>62.2</td><td>.4</td><td>1.1</td><td>.1</td><td>1.0</td><td>17.6</td><td>18.7</td></tr><tr><td>7/8% November 1943</td><td>100.0</td><td>65.4</td><td>64.1</td><td>63.5</td><td>.6</td><td>1.3</td><td>.1</td><td>1.2</td><td>18.7</td><td>15.9</td></tr><tr><td>7/8% December 1943</td><td>100.0</td><td>65.4</td><td>64.2</td><td>63.6</td><td>.6</td><td>1.2</td><td>.1</td><td>1.1</td><td>4.0</td><td>30.7</td></tr><tr><td>7/8% February 1944</td><td>100.0</td><td>72.9</td><td>70.6</td><td>69.0</td><td>1.5</td><td>2.4</td><td>.5</td><td>1.9</td><td>1.4</td><td>25.7</td></tr><tr><td>7/8% April 1944</td><td>100.0</td><td>46.7</td><td>44.8</td><td>42.9</td><td>1.8</td><td>2.0</td><td>.7</td><td>1.3</td><td>1.0</td><td>52.2</td></tr><tr><td>7/8% May 1944</td><td>100.0</td><td>78.2</td><td>77.0</td><td>76.6</td><td>.4</td><td>1.2</td><td>.7</td><td>.5</td><td>15.0</td><td>6.9</td></tr><tr><td>Total certificates of indebtedness</td><td>100.0</td><td>61.6</td><td>60.0</td><td>58.9</td><td>1.1</td><td>1.6</td><td>.4</td><td>1.2</td><td>6.9</td><td>31.5</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% September 1944</td><td>100.0</td><td>79.8</td><td>75.2</td><td>73.0</td><td>2.3</td><td>4.6</td><td>3.4</td><td>1.1</td><td>2.0</td><td>18.2</td></tr><tr><td>1-1/4% March 1945</td><td>100.0</td><td>68.2</td><td>64.8</td><td>63.1</td><td>1.7</td><td>3.4</td><td>2.2</td><td>1.1</td><td>11.1</td><td>20.7</td></tr><tr><td>3/4% December 1945</td><td>100.0</td><td>82.6</td><td>77.0</td><td>74.7</td><td>2.4</td><td>5.6</td><td>3.8</td><td>1.8</td><td>3.3</td><td>14.0</td></tr><tr><td>1% March 1946</td><td>100.0</td><td>86.1</td><td>79.9</td><td>77.2</td><td>2.7</td><td>6.2</td><td>4.7</td><td>1.5</td><td>1.5</td><td>12.5</td></tr><tr><td>1-1/2% December 1946</td><td>100.0</td><td>76.7</td><td>74.5</td><td>72.2</td><td>2.3</td><td>2.2</td><td>1.1</td><td>1.1</td><td>11.6</td><td>11.6</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>76.1</td><td>72.8</td><td>70.6</td><td>2.2</td><td>3.3</td><td>2.1</td><td>1.2</td><td>9.1</td><td>14.8</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>79.3</td><td>60.0</td><td>46.1</td><td>13.9</td><td>19.2</td><td>17.9</td><td>1.3</td><td>7.9</td><td>12.9</td></tr><tr><td>1-3/4% June 1948</td><td>100.0</td><td>80.0</td><td>72.2</td><td>69.6</td><td>2.6</td><td>7.7</td><td>6.1</td><td>1.6</td><td>1.2</td><td>19.8</td></tr><tr><td>2% June 1949-51</td><td>100.0</td><td>85.0</td><td>69.7</td><td>58.8</td><td>10.9</td><td>15.3</td><td>13.8</td><td>1.5</td><td>8.2</td><td>6.7</td></tr><tr><td>2% September 1949-51</td><td>100.0</td><td>84.7</td><td>75.0</td><td>64.8</td><td>10.2</td><td>9.7</td><td>8.4</td><td>1.3</td><td>3.2</td><td>12.1</td></tr><tr><td>2% December 1949-51</td><td>100.0</td><td>79.8</td><td>70.4</td><td>63.5</td><td>6.9</td><td>9.4</td><td>8.4</td><td>1.0</td><td>1.6</td><td>18.6</td></tr><tr><td>2% March 1950-52</td><td>100.0</td><td>88.7</td><td>76.6</td><td>71.7</td><td>4.9</td><td>12.1</td><td>10.6</td><td>1.4</td><td>1.9</td><td>9.4</td></tr><tr><td>2% September 1950-52</td><td>100.0</td><td>65.3</td><td>52.0</td><td>43.0</td><td>8.9</td><td>13.3</td><td>11.8</td><td>1.6</td><td>.9</td><td>33.8</td></tr><tr><td>2% December 1951-55</td><td>100.0</td><td>76.6</td><td>69.9</td><td>66.4</td><td>3.4</td><td>6.7</td><td>5.0</td><td>1.7</td><td>4.3</td><td>19.1</td></tr><tr><td>2-1/2% March 1952-54</td><td>100.0</td><td>68.9</td><td>55.1</td><td>24.1</td><td>31.0</td><td>13.9</td><td>12.7</td><td>1.1</td><td>8.6</td><td>22.5</td></tr><tr><td>2-1/4% June 1952-55</td><td>100.0</td><td>79.3</td><td>62.9</td><td>40.6</td><td>22.3</td><td>16.4</td><td>14.8</td><td>1.6</td><td>5.0</td><td>15.7</td></tr><tr><td>2-1/2% March 1956-58</td><td>100.0</td><td>73.2</td><td>37.1</td><td>16.1</td><td>21.1</td><td>36.1</td><td>34.7</td><td>1.4</td><td>3.3</td><td>23.5</td></tr><tr><td>2-1/2% June 1962-67</td><td>100.0</td><td>71.0</td><td>8.9</td><td>-</td><td>8.9</td><td>62.1</td><td>58.3</td><td>3.8</td><td>8.6</td><td>20.4</td></tr><tr><td>2-1/2% December 1963-68</td><td>100.0</td><td>65.8</td><td>17.7</td><td>-</td><td>17.7</td><td>48.1</td><td>45.6</td><td>2.5</td><td>9.4</td><td>24.8</td></tr><tr><td>2-1/2% June 1964-69</td><td>100.0</td><td>55.9</td><td>15.3</td><td>-</td><td>15.3</td><td>40.6</td><td>38.0</td><td>2.6</td><td>10.1</td><td>34.0</td></tr><tr><td>2-1/2% September 1967-72</td><td>100.0</td><td>63.0</td><td>41.4</td><td>29.6</td><td>11.8</td><td>21.6</td><td>19.5</td><td>2.2</td><td>10.7</td><td>26.3</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>71.5</td><td>47.4</td><td>35.6</td><td>11.9</td><td>24.1</td><td>22.2</td><td>1.9</td><td>5.4</td><td>23.1</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</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-1/8% February 1945</td><td>100.0</td><td>82.5</td><td>76.0</td><td>73.8</td><td>2.2</td><td>6.5</td><td>5.2</td><td>1.2</td><td>6.6</td><td>10.9</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></tr><tr><td>1-1/8% July 1943</td><td>100.0</td><td>82.6</td><td>80.0</td><td>78.9</td><td>1.0</td><td>2.6</td><td>.5</td><td>2.2</td><td>6.3</td><td>11.1</td></tr><tr><td>1% April 1944</td><td>100.0</td><td>77.4</td><td>75.3</td><td>74.0</td><td>1.3</td><td>2.1</td><td>.7</td><td>1.5</td><td>13.2</td><td>9.3</td></tr><tr><td>1% January 1945</td><td>100.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100.0</td><td>-</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>74.6</td><td>71.2</td><td>69.8</td><td>1.4</td><td>3.4</td><td>1.9</td><td>1.5</td><td>15.9</td><td>9.5</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>68.5</td><td>56.4</td><td>50.3</td><td>6.1</td><td>12.1</td><td>10.8</td><td>1.3</td><td>9.2</td><td>22.3</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>67.1</td><td>54.6</td><td>49.5</td><td>5.1</td><td>12.5</td><td>10.4</td><td>2.1</td><td>9.8</td><td>23.1</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, (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, $177 millions; (2) United States savings bonds: commercial banks, $195 millions; mutual savings banks, $105 millions; insurance companies, $139 millions; all institutions, $439 millions; (3) tax series notes: commercial banks, $54
millions; insurance companies $33 millions; all institutions, $55 millions; (4) Commodity Credit Corporation demand obligations: holdings of those obligations are not reported. 2/ Excludes Exchange Stabilisation 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)
-57-
58
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
June 30, 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="3">Price data (Price decimals are thirty-secondes)</th><th colspan="3">Yield date 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-secondes)</th><th colspan="4">1943 price range 2/ (Price decimals are thirty-secondes)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from May 29, 1943</th><th>Yield 1/</th><th>Change in yield from May 29, 1943</th><th colspan="2">High</th><th colspan="2">Low</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td><td>Price</td><td>Date</td></tr></table>
Issued by U. S. Government
<table><tr><td colspan="14">Treasury bonds</td></tr><tr><td>$1,115</td><td>2%</td><td>3/15/48-50</td><td>102.04</td><td>102.06</td><td>102.05</td><td>+.08</td><td>1.52%</td><td>-.07%</td><td>1.66%</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>102.05</td><td>6/30</td><td>101.08</td><td>1/2</td></tr><tr><td>3,062</td><td>1-3/4</td><td>6/15/48</td><td>101.07</td><td>101.09</td><td>101.08</td><td>+.06</td><td>1.49</td><td>-.04</td><td>1.81</td><td>12/1/42</td><td>101.08</td><td>6/30/43</td><td>100.01</td><td>12/23/42</td><td>101.08</td><td>6/30</td><td>100.08</td><td>1/4</td></tr><tr><td>1,014</td><td>2</td><td>6/15/49-51</td><td>101.12</td><td>101.14</td><td>101.13</td><td>+.06</td><td>1.75</td><td>-.04</td><td>1.82</td><td>1/15/42</td><td>101.13</td><td>6/30/43</td><td>100.06</td><td>8/5/42</td><td>101.13</td><td>6/30</td><td>100.20</td><td>4/12</td></tr><tr><td>1,292</td><td>2</td><td>9/15/49-51</td><td>101.10</td><td>101.12</td><td>101.11</td><td>+.07</td><td>1.77</td><td>-.04</td><td>1.82</td><td>5/15/42</td><td>101.11</td><td>6/30/43</td><td>100.04</td><td>10/6/42</td><td>101.11</td><td>6/30</td><td>100.15</td><td>4/7</td></tr><tr><td>2,098</td><td>2</td><td>12/15/49-51</td><td>101.07</td><td>101.09</td><td>101.08</td><td>+.06</td><td>1.79</td><td>-.04</td><td>1.84</td><td>7/15/42</td><td>101.09</td><td>6/29/43</td><td>100.03</td><td>8/5/42</td><td>101.09</td><td>6/29</td><td>100.12</td><td>4/14</td></tr><tr><td>1,963</td><td>2</td><td>3/15/50-52</td><td>101.01</td><td>101.03</td><td>101.02</td><td>+.04</td><td>1.83</td><td>-.02</td><td>1.87</td><td>10/19/42</td><td>101.03</td><td>6/29/43</td><td>100.01</td><td>11/2/42</td><td>101.03</td><td>6/29</td><td>100.09</td><td>4/14</td></tr><tr><td>4,939</td><td>2</td><td>9/15/50-52</td><td>100.29</td><td>100.31</td><td>100.30</td><td>+.05</td><td>1.86</td><td>-.02</td><td>1.89</td><td>4/15/43</td><td>100.31</td><td>6/29/43</td><td>100.08</td><td>5/3/43</td><td>100.31</td><td>6/29</td><td>100.08</td><td>5/3</td></tr><tr><td>510</td><td>2</td><td>12/15/51-55</td><td>100.29</td><td>100.31</td><td>100.30</td><td>+.05</td><td>1.88</td><td>-.02</td><td>1.92</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>100.30</td><td>6/30</td><td>100.06</td><td>4/12</td></tr><tr><td>1,024</td><td>2-1/2</td><td>3/15/52-54</td><td>104.13</td><td>104.15</td><td>104.14</td><td>+.03</td><td>1.94</td><td>-.02</td><td>2.04</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>104.15</td><td>6/29</td><td>103.20</td><td>1/2</td></tr><tr><td>1,501</td><td>2-1/4</td><td>6/15/52-55</td><td>102.09</td><td>102.12</td><td>102.10</td><td>.00</td><td>1.97</td><td>.00</td><td>2.03</td><td>2/25/42</td><td>102.10</td><td>6/30/43</td><td>100.16</td><td>2/18/42</td><td>102.10</td><td>6/30</td><td>101.09</td><td>1/2</td></tr><tr><td>1,449</td><td>2-1/2</td><td>3/15/56-58</td><td>104.11</td><td>104.13</td><td>104.12</td><td>+.10</td><td>2.11</td><td>-.03</td><td>2.15</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>104.12</td><td>6/30</td><td>103.07</td><td>1/2</td></tr><tr><td>2,118</td><td>2-1/2</td><td>6/15/62-67</td><td>100.29</td><td>100.31</td><td>100.30</td><td>-.03</td><td>2.44</td><td>+.01</td><td>2.45</td><td>5/5/42</td><td>101.01</td><td>5/29/43</td><td>100.00</td><td>8/17/42</td><td>101.01</td><td>5/29</td><td>100.09</td><td>4/12</td></tr><tr><td>2,831</td><td>2-1/2</td><td>12/15/63-68</td><td>100.17</td><td>100.19</td><td>100.18</td><td>-.08</td><td>2.47</td><td>+.02</td><td>2.47</td><td>12/1/42</td><td>100.26</td><td>6/1/43</td><td>100.01</td><td>12/24/42</td><td>100.26</td><td>6/1</td><td>100.04</td><td>4/28</td></tr><tr><td>3,762</td><td>2-1/2</td><td>6/15/64-69</td><td>100.14</td><td>100.16</td><td>100.15</td><td>-.05</td><td>2.47</td><td>+.01</td><td>2.48</td><td>4/15/43</td><td>100.20</td><td>6/2/43</td><td>100.05</td><td>5/3/43</td><td>100.20</td><td>6/2</td><td>100.05</td><td>5/3</td></tr><tr><td>2,716</td><td>2-1/2</td><td>9/15/67-72</td><td>101.01</td><td>101.03</td><td>101.02</td><td>-.01</td><td>2.44</td><td>.00</td><td>2.45</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>101.03</td><td>6/2</td><td>100.16</td><td>4/12</td></tr><tr><td colspan="14">Treasury notes</td></tr><tr><td>635</td><td>3/4%</td><td>D - 9/15/44</td><td>100.01</td><td>100.03</td><td>100.02</td><td>+.05</td><td>.70</td><td>-.12</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>100.03</td><td>6/29</td><td>99.21</td><td>1/2</td></tr><tr><td>1,606</td><td>1-1/4</td><td>C - 3/15/45</td><td>100.19</td><td>100.21</td><td>100.20</td><td>+.05</td><td>.88</td><td>-.10</td><td>-</td><td>9/25/42</td><td>100.20</td><td>6/30/43</td><td>100.00</td><td>10/30/42</td><td>100.20</td><td>6/30</td><td>100.04</td><td>1/2</td></tr><tr><td>531</td><td>3/4</td><td>B - 12/15/45</td><td>99.25</td><td>99.27</td><td>99.26</td><td>+.07</td><td>.83</td><td>-.08</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>99.26</td><td>6/30</td><td>98.31</td><td>1/2</td></tr><tr><td>503</td><td>1</td><td>A - 3/15/46</td><td>100.00</td><td>100.02</td><td>100.01</td><td>+.07</td><td>.99</td><td>-.08</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>100.01</td><td>6/30</td><td>99.03</td><td>1/2</td></tr><tr><td>3,261</td><td>1-1/2</td><td>B - 12/15/46</td><td>100.22</td><td>100.24</td><td>100.23</td><td>+.04</td><td>1.29</td><td>-.04</td><td>-</td><td>6/5/42</td><td>100.23</td><td>6/30/43</td><td>100.01</td><td>1/2/43</td><td>100.23</td><td>6/30</td><td>100.01</td><td>1/2</td></tr><tr><td></td><td>1-1/2</td><td>A - 9/15/47</td><td>100.16</td><td>100.18</td><td>100.17</td><td>-</td><td>1.37</td><td>-</td><td>-</td><td>7/12/43</td><td>100.17</td><td>6/30/43</td><td>100.17</td><td>6/30/43</td><td>100.17</td><td>6/30</td><td>100.17</td><td>6/30</td></tr><tr><td colspan="14">Certificates of indebtedness</td></tr><tr><td>1,609</td><td>7/8</td><td>B - 8/1/43</td><td>(.40%)</td><td>(.35%)</td><td>(.38%)</td><td>-.05%</td><td>-</td><td>-</td><td>-</td><td>8/15/42</td><td>(.38%)</td><td>6/30/43</td><td>(.85%)</td><td>8/11/42</td><td>(.38%)</td><td>6/30</td><td>(.68%)</td><td>1/1</td></tr><tr><td>2,035</td><td>7/8</td><td>D - 11/1/43</td><td>.55%</td><td>.53%</td><td>.54%</td><td>-.08%</td><td>-</td><td>-</td><td>-</td><td>11/2/42</td><td>.54%</td><td>6/30/43</td><td>.65%</td><td>10/29/42</td><td>.54%</td><td>6/30</td><td>.78%</td><td>1/1</td></tr><tr><td>3,800</td><td>7/8</td><td>B - 12/1/43</td><td>.57%</td><td>.55%</td><td>.56%</td><td>-.12%</td><td>-</td><td>-</td><td>-</td><td>12/1/42</td><td>.56%</td><td>6/30/43</td><td>.86%</td><td>12/26/42</td><td>.56%</td><td>6/30</td><td>.83%</td><td>1/4</td></tr><tr><td>2,211</td><td>7/8</td><td>A - 2/1/44</td><td>.65%</td><td>.63%</td><td>.64%</td><td>-.08%</td><td>-</td><td>-</td><td>-</td><td>2/1/43</td><td>.63%</td><td>6/26/43</td><td>.82%</td><td>1/25/43</td><td>.63%</td><td>6/26</td><td>.82%</td><td>1/25</td></tr><tr><td>5,251</td><td>7/8</td><td>B - 4/1/44</td><td>.69%</td><td>.67%</td><td>.68%</td><td>-.05%</td><td>-</td><td>-</td><td>-</td><td>4/15/43</td><td>.67%</td><td>6/26/43</td><td>.82%</td><td>5/15/43</td><td>.67%</td><td>6/26</td><td>.82%</td><td>5/4</td></tr><tr><td>1,655</td><td>7/8</td><td>C - 5/1/44</td><td>.69%</td><td>.67%</td><td>.68%</td><td>-.05%</td><td>-</td><td>-</td><td>-</td><td>5/1/43</td><td>.61%</td><td>6/26/43</td><td>.82%</td><td>5/4/43</td><td>.61%</td><td>6/26</td><td>.82%</td><td>5/4</td></tr><tr><td colspan="14">Guaranteed by U. S. Government 7/</td></tr><tr><td colspan="14">Commodity Credit Corp.</td></tr><tr><td>$412</td><td>1-1/8%0</td><td>2/15/45</td><td>100.09</td><td>100.11</td><td>100.10</td><td>+.03</td><td>.93%</td><td>-.07%</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>100.10</td><td>6/30</td><td>99.26</td><td>1/2</td></tr><tr><td colspan="14">Reconstruction Finance Corporation</td></tr><tr><td>324</td><td>1-1/8%V</td><td>7/15/43</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4/17/41</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>571</td><td>1</td><td>W - 4/15/44</td><td>100.07</td><td>100.09</td><td>100.08</td><td>+.02</td><td>.68</td><td>-.10</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>100.08</td><td>6/30</td><td>100.03</td><td>1/4</td></tr></table>
PART B - TAXABLE TREASURY BILLS
<table><tr><th>Amount outstanding (Millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="4">Discount</th><th>Amount outstanding (Millions)</th><th>Maturity date</th><th>Issue date</th><th colspan="4">Discount</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from May 29, 1943</th><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from May 29, 1943</th></tr><tr><td>$805</td><td>6/30/43</td><td>3/31/43</td><td>.9/</td><td>.9/</td><td>.9/</td><td>-</td><td>$908</td><td>8/19/43</td><td>5/19/43</td><td>.37%</td><td>.30%</td><td>.34%</td><td>-.02%</td></tr><tr><td>804</td><td>7/7/43</td><td>4/7/43</td><td>.37%</td><td>.25%</td><td>.31%</td><td>-.03%</td><td>905</td><td>8/26/43</td><td>5/26/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td></tr><tr><td>905</td><td>7/14/43</td><td>4/14/43</td><td>.37</td><td>.25</td><td>.31</td><td>-.03</td><td>905</td><td>9/2/43</td><td>6/2/43</td><td>.37</td><td>.35</td><td>.36</td><td>.00</td></tr><tr><td></td><td>7/21/43</td><td>4/21/43</td><td>.37</td><td>.25</td><td>.31</td><td>-.03</td><td>909</td><td>9/9/43</td><td>6/9/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>902</td><td>7/28/43</td><td>4/28/43</td><td>.37</td><td>.25</td><td>.31</td><td>-.03</td><td>1,001</td><td>9/16/43</td><td>6/16/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>902</td><td>8/4/43</td><td>5/5/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td><td>1,006</td><td>9/23/43</td><td>6/23/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>907</td><td>8/12/43</td><td>5/12/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td><td>1,006</td><td>9/30/43</td><td>6/30/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr></table>
(Continued on following page)
59
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
June 30, 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 date (Price decimals are thirty-seconds)</th><th colspan="2">Yield date 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">1943 price range 2/ (Price decimals are thirty-seconds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Yield 3/</th><th>Change in yield from May 29, 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>Change in mean from May 29, 1943</th><th></th><th>Matu- rity yield</th><th></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>Treasury bonds</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>$1,401</td><td>3-1/4 10/15/43-4510/</td><td>100.28*</td><td>100.23*</td><td>100.29</td><td>-.04</td><td>.12%</td><td>-.35%</td><td>10/15/33</td><td>111.07</td><td>6/5/39</td><td>97.29</td><td>1/10/34</td><td>10.70</td><td>1/12</td><td>100.29</td><td>6/30</td></tr><tr><td>1,519</td><td>3-1/4 - 4/15/44-46</td><td>102.05</td><td>102.06</td><td>102.06</td><td>-.02</td><td>.47</td><td>-.19</td><td>4/16/34</td><td>111.26</td><td>6/7/39</td><td>99.30</td><td>9/17/34</td><td>1.1c.06</td><td>1/12</td><td>102.06</td><td>6/30</td></tr><tr><td>1,037</td><td>4 - 12/15/44-54</td><td>104.29</td><td>104.31</td><td>104.30</td><td>-.01</td><td>.59</td><td>-.16</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>106.05</td><td>1/5</td><td>104.29</td><td>6/5</td></tr><tr><td>1,214</td><td>2-3/4 - 9/15/45-47</td><td>104.15</td><td>104.17</td><td>104.16</td><td>+.03</td><td>.69</td><td>-.11</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>104.26</td><td>2/13</td><td>104.07</td><td>4/14</td></tr><tr><td>541</td><td>2-1/2 - 12/15/45</td><td>104.11</td><td>104.13</td><td>104.12</td><td>+.03</td><td>.70</td><td>-.09</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>104.18</td><td>2/17</td><td>104.01</td><td>4/14</td></tr><tr><td>489</td><td>3-3/4 - 3/15/46-56</td><td>107.22</td><td>107.24</td><td>107.23</td><td>+.01</td><td>.86</td><td>-.09</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>108.17</td><td>2/2</td><td>107.19</td><td>5/24</td></tr><tr><td>1,036</td><td>3 - 6/15/46-48</td><td>106.05</td><td>106.07</td><td>106.06</td><td>+.03</td><td>.88</td><td>-.08</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>106.21</td><td>1/11</td><td>105.28</td><td>4/13</td></tr><tr><td>819</td><td>3-1/8 - 6/15/46-49</td><td>106.16</td><td>106.18</td><td>106.17</td><td>+.02</td><td>.88</td><td>-.08</td><td>6/15/31</td><td>113.19</td><td>12/14/40</td><td>83.05</td><td>1/11/32</td><td>107.01</td><td>1/14</td><td>106.08</td><td>4/14</td></tr><tr><td>759</td><td>4-1/4 - 10/15/47-52</td><td>113.20</td><td>113.22</td><td>113.21</td><td>+.06</td><td>.99</td><td>-.10</td><td>10/16/22</td><td>122.22</td><td>12/14/40</td><td>98.18</td><td>10/8/23</td><td>114.01</td><td>2/3</td><td>113.06</td><td>4/14</td></tr><tr><td>701</td><td>2 - 12/15/47</td><td>104.15</td><td>104.17</td><td>104.16</td><td>+.01</td><td>.97</td><td>-.02</td><td>12/15/38</td><td>107.20</td><td>12/12/40</td><td>99.14</td><td>9/25/39</td><td>104.17</td><td>6/29</td><td>103.30</td><td>4/13</td></tr><tr><td>1,223</td><td>2-3/4 - 3/15/48-51</td><td>107.17</td><td>107.19</td><td>107.18</td><td>+.05</td><td>1.10</td><td>-.06</td><td>3/16/36</td><td>111.18</td><td>12/12/40</td><td>99.10</td><td>4/1/37</td><td>107.18</td><td>6/30</td><td>106.27</td><td>4/14</td></tr><tr><td>451</td><td>2-1/2 - 9/15/48</td><td>107.05</td><td>107.07</td><td>107.06</td><td>+.11</td><td>1.08</td><td>-.08</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>107.06</td><td>6/30</td><td>106.11</td><td>4/12</td></tr><tr><td>571</td><td>2 - 12/15/48-50</td><td>104.25</td><td>104.27</td><td>104.26</td><td>+.09</td><td>1.09</td><td>-.06</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>104.26</td><td>6/30</td><td>103.20</td><td>1/2</td></tr><tr><td>491</td><td>3-1/8 - 12/15/49-52</td><td>111.12</td><td>111.14</td><td>111.13</td><td>+.14</td><td>1.28</td><td>-.09</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>111.13</td><td>6/30</td><td>110.06</td><td>3/30</td></tr><tr><td>1,786</td><td>2-1/2 - 12/15/49-53</td><td>107.12</td><td>107.14</td><td>107.13</td><td>+.14</td><td>1.30</td><td>-.08</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>107.13</td><td>6/30</td><td>105.30</td><td>1/2</td></tr><tr><td>1,186</td><td>2-1/2 - 9/15/50-52</td><td>107.31</td><td>108.01</td><td>108.00</td><td>+.17</td><td>1.33</td><td>-.09</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>108.01</td><td>6/29</td><td>106.09</td><td>1/25</td></tr><tr><td>1,627</td><td>2-3/4 - 6/15/51-54</td><td>110.02</td><td>110.04</td><td>110.03</td><td>+.20</td><td>1.40</td><td>-.10</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>110.03</td><td>6/30</td><td>107.30</td><td>1/2</td></tr><tr><td>755</td><td>3 - 9/15/51-55</td><td>112.03</td><td>112.05</td><td>112.04</td><td>+.21</td><td>1.43</td><td>-.09</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>112.04</td><td>6/30</td><td>110.01</td><td>1/2</td></tr><tr><td>1,118</td><td>2-1/4 - 12/15/51-53</td><td>106.29</td><td>106.31</td><td>106.30</td><td>+.22</td><td>1.38</td><td>-.09</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>106.30</td><td>6/30</td><td>104.20</td><td>1/2</td></tr><tr><td>725</td><td>2 - 6/15/53-55</td><td>105.13</td><td>105.15</td><td>105.14</td><td>+.20</td><td>1.41</td><td>-.07</td><td>10/7/40</td><td>105.14</td><td>6/30/43</td><td>101.19</td><td>2/15/41</td><td>105.14</td><td>6/30</td><td>103.05</td><td>1/2</td></tr><tr><td>681</td><td>2-1/4 - 6/15/54-56</td><td>107.09</td><td>107.11</td><td>107.10</td><td>+.18</td><td>1.52</td><td>-.06</td><td>7/22/40</td><td>107.10</td><td>6/30/43</td><td>102.02</td><td>7/24/40</td><td>107.10</td><td>6/30</td><td>104.23</td><td>1/2</td></tr><tr><td>2,611</td><td>2-7/8 - 3/15/55-60</td><td>112.21</td><td>112.23</td><td>112.22</td><td>+.21</td><td>1.58</td><td>-.06</td><td>3/15/35</td><td>112.22</td><td>6/30/43</td><td>98.30</td><td>9/20/35</td><td>112.22</td><td>6/30</td><td>109.04</td><td>1/2</td></tr><tr><td>982</td><td>2-3/4 - 9/15/56-59 11/</td><td>112.05</td><td>112.07</td><td>112.06</td><td>+.27</td><td>1.72</td><td>-.07</td><td>9/15/36</td><td>112.06</td><td>6/30/43</td><td>98.10</td><td>4/1/37</td><td>112.06</td><td>6/30</td><td>108.12</td><td>1/2</td></tr><tr><td>919</td><td>2-3/4 - 6/15/58-63 11/</td><td>112.05</td><td>112.07</td><td>112.06</td><td>+.27</td><td>1.82</td><td>-.06</td><td>6/15/38</td><td>112.06</td><td>6/30/43</td><td>99.15</td><td>9/25/39</td><td>112.06</td><td>6/30</td><td>108.13</td><td>3/24</td></tr><tr><td>1,485</td><td>2-3/4 - 12/15/60-65 11/</td><td>112.21</td><td>112.23</td><td>112.22</td><td>+.26</td><td>1.89</td><td>-.06</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>112.22</td><td>6/30</td><td>108.26</td><td>3/24</td></tr><tr><th colspan="2">Other bonds 12/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>16</td><td>3 3/4 Conversion - 1/1/46</td><td>106.04</td><td>106.16</td><td>106.10</td><td>-.02</td><td>.46</td><td>-.05</td><td>1/1/16</td><td>115.00</td><td>1935</td><td>75.00</td><td>1920</td><td>107.08</td><td>1/11</td><td>106.10</td><td>6/30</td></tr><tr><td>13</td><td>3 Conversion - 1/1/47</td><td>108.04</td><td>108.20</td><td>108.12</td><td>.00</td><td>.58</td><td>-.05</td><td>1/1/17</td><td></td><td></td><td></td><td>109.00</td><td>1/11</td><td>108.12</td><td>6/30</td></tr><tr><td>50</td><td>3 Panama - 6/1/61</td><td>128.16</td><td>130.00</td><td>129.08</td><td>.00</td><td>1.19</td><td>.00</td><td>6/1/11</td><td>129.08</td><td>6/30/43</td><td>75.00</td><td>6/18/21</td><td>129.08</td><td>6/30</td><td>127.30</td><td>1/11</td></tr><tr><th colspan="2">Treasury notes</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>279</td><td>1 1/8 C- 9/15/43</td><td>100.04*</td><td>100.05*</td><td>100.05</td><td>-.02</td><td>.24</td><td>.00</td><td>6/15/40</td><td>102.15</td><td>11/8/40</td><td>100.05</td><td>6/30/43</td><td>100.15</td><td>1/7</td><td>100.05</td><td>6/30</td></tr><tr><td>421</td><td>1-1/8 B- 12/15/43</td><td>100.13</td><td>100.15</td><td>100.14</td><td>.00</td><td>.17</td><td>-.14</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>100.24</td><td>2/10</td><td>100.14</td><td>6/30</td></tr><tr><td>515</td><td>1 - 3/15/44</td><td>100.17</td><td>100.19</td><td>100.18</td><td>+.02</td><td>.20</td><td>-.16</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>100.24</td><td>2/5</td><td>100.16</td><td>6/10</td></tr><tr><td>416</td><td>3/4 A- 6/15/44</td><td>100.15</td><td>100.17</td><td>100.16</td><td>+.02</td><td>.23</td><td>-.10</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>100.17</td><td>2/15</td><td>100.12</td><td>5/5</td></tr><tr><td>283</td><td>1 C- 9/15/44</td><td>100.30</td><td>101.00</td><td>100.31</td><td>+.03</td><td>.20</td><td>-.12</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>100.31</td><td>6/30</td><td>100.27</td><td>5/17</td></tr><tr><td>718</td><td>3/4 A- 3/15/45</td><td>100.24</td><td>100.26</td><td>100.25</td><td>+.06</td><td>.29</td><td>-.13</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>100.25</td><td>6/30</td><td>100.16</td><td>1/2</td></tr></table>
Guaranteed by U. S. Government
<table><tr><td>$ 95<br>835</td><td>Federal Farm Mortgage Corp.<br>3-1/4% - 3/15/44-64<br>3 - 5/15/44-49</td><td>101.28<br>102.04+</td><td>101.30<br>102.05+</td><td>101.29<br>102.05</td><td>-.04<br>-.02</td><td>.54%<br>.52</td><td>-.12%<br>-.14</td><td>3.12%<br>2.60</td><td>3/15/34<br>5/15/34</td><td>110.07<br>109.22</td><td>6/8/39<br>6/5/39</td><td>98.02<br>95.03</td><td>9/18/34<br>9/12/34</td><td>103.02<br>103.04</td><td>1/5<br>1/5</td><td>101.29<br>102.05</td><td>6/30<br>6/30</td></tr><tr><td>779<br>755</td><td>Home Owners' Loan Corp.<br>3% A- 5/1/44-52<br>1-1/2 M- 6/1/45-47</td><td>102.01+<br>101.14</td><td>102.02+<br>101.16</td><td>102.02<br>101.15</td><td>-.02<br>+.05</td><td>.52<br>.73</td><td>-.15<br>-.11</td><td>2.74<br>1.12</td><td>5/1/34<br>6/1/39</td><td>109.18<br>103.26</td><td>6/6/39<br>12/13/40</td><td>95.03<br>96.24</td><td>9/12/34<br>9/25/39</td><td>103.01<br>101.15</td><td>1/5<br>6/30</td><td>102.02<br>101.04</td><td>6/30<br>4/17</td></tr><tr><td>114</td><td>Federal Public Housing Authority<br>1-3/8% B- 2/1/44</td><td>100.15</td><td>100.17</td><td>100.16</td><td>-.02</td><td>.52</td><td>-.01</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>100.24</td><td>2/13</td><td>100.16</td><td>6/30</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 except that prices of Treasury, Federal Housing 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 to maturity date when mean price is below par.
4/ Included in average of long-term taxable Treasury bonds shown in
5/ In this chapter. Security is not transferable to commercial banks until ten years after issue date.
6/ Quoted on yield basis since December 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/ Quoted on a yield basis since June 22, 1943.
9/ Not quoted.
10/ Called on June 7, 1943 for redemption on October 15, 1943.
11/ Included in average of long-term partially tax-exempt Treasury bonds shown later in this chapter.
12/ Excludes postal savings bonds.
60
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
June 30, 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 rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="4">Price date (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">1943 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 May 29, 1943</th><th>Yield 1/</th><th>Change in yield from May 29, 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></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 colspan="16">Federal Land Banks 1/</td></tr><tr><td>$125</td><td>4%</td><td>7/1/44-46</td><td>103.20</td><td>103.26</td><td>103.23</td><td>-.04%</td><td>.26%</td><td>-.17%</td><td>2.70%</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>104.28</td><td>1/4</td><td>103.19</td><td>6/14</td></tr><tr><td>71</td><td>4</td><td>7/15/44-64</td><td>103.22</td><td>103.28</td><td>103.25</td><td>-.02</td><td>.34</td><td>-.21</td><td>3.74</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>103.23</td><td>6/14/43</td><td>104.28</td><td>1/5</td><td>103.23</td><td>6/14</td></tr><tr><td>157</td><td>3-1/4</td><td>5/1/45-55</td><td>104.28</td><td>105.02</td><td>104.31</td><td>+.03</td><td>.52</td><td>-.16</td><td>2.76</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>105.22</td><td>1/11</td><td>104.26</td><td>6/2</td></tr><tr><td>230</td><td>3</td><td>7/1/45-55</td><td>104.26</td><td>105.00</td><td>104.29</td><td>+.03</td><td>.53</td><td>-.14</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>105.16</td><td>2/16</td><td>104.24</td><td>6/2</td></tr><tr><td>171</td><td>3</td><td>1/1/46-56</td><td>105.28</td><td>106.04</td><td>106.00</td><td>+.04</td><td>.58</td><td>-.12</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>106.24</td><td>1/6</td><td>105.27</td><td>6/12</td></tr><tr><td>170</td><td>3</td><td>5/1/46-56</td><td>106.26</td><td>107.02</td><td>106.30</td><td>+.04</td><td>.53</td><td>-.11</td><td>2.37</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>107.18</td><td>1/11</td><td>106.22</td><td>5/10</td></tr><tr><td colspan="16">Federal National Mortgage Association</td></tr><tr><td>55</td><td>1-5/8%</td><td>1/3/40-44 5/1/40-44</td><td>100.16</td><td>-</td><td>100.16</td><td>-.04</td><td>1.61</td><td>1.44</td><td>-</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>100.23</td><td>2/6</td><td>100.16</td><td>6/30</td></tr></table>
PART B - ISSUES QUOTED ON A YIELD BASIS
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th rowspan="2">Date of issue</th><th colspan="4">Yield</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from May 29, 1943</th></tr><tr><td rowspan="2">$35</td><td>Federal Home Loan Banks 6/3/4% N - 10/1/43</td><td>4/1/43</td><td>.75%</td><td>.60%</td><td>.68%</td><td>.00%</td></tr><tr><td>Federal Intermediate Credit Banks 6/</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>23</td><td>.90% - 7/1/43</td><td>9/1/42</td><td>.50</td><td>-</td><td>.50</td><td>.00</td></tr><tr><td>21</td><td>.70% - 7/1/43</td><td>12/30/42</td><td>.50</td><td>-</td><td>.50</td><td>.00</td></tr><tr><td>20</td><td>.85% - 8/2/43</td><td>11/2/42</td><td>.55</td><td>-</td><td>.55</td><td>.00</td></tr><tr><td>11</td><td>.65% - 8/2/43</td><td>3/1/43</td><td>.55</td><td>-</td><td>.55</td><td>.00</td></tr><tr><td>31</td><td>.80% - 9/1/43</td><td>12/1/42</td><td>.60</td><td>-</td><td>.60</td><td>.00</td></tr><tr><td>30</td><td>.80% - 10/1/43</td><td>1/2/43</td><td>.65</td><td>-</td><td>.65</td><td>.00</td></tr><tr><td>27</td><td>.85% - 11/1/43</td><td>2/1/43</td><td>.70</td><td>-</td><td>.70</td><td>.00</td></tr><tr><td>19</td><td>3/4% - 11/1/43</td><td>5/1/43</td><td>.70</td><td>-</td><td>.70</td><td>.00</td></tr><tr><td>20</td><td>.80% - 12/1/43</td><td>3/1/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>22</td><td>3/4% - 12/1/43</td><td>6/1/43</td><td>.75</td><td>-</td><td>.75</td><td>-</td></tr><tr><td>20</td><td>.85% - 1/3/44</td><td>4/1/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>22</td><td>.85% - 2/1/44</td><td>5/1/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>26</td><td>.85% - 3/1/44</td><td>6/1/43</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.
1/ Computed on mean price to call date when mean price is above par and to maturity date when mean price is below par.
2/ Excludes issues completely held by Farm Credit Administration agencies.
3/ Called on May 27, 1943 for redemption on July 3, 1943.
4/ Taxable issues.
61
YIELDS OF TREASURY SECURITIES JUNE 30, 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 3 months are excluded.
62
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent)
<table><tr><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th></tr><tr><td colspan="12">Monthly Series 4/</td></tr></table>
<table><tr><td>1935-Jan.</td><td>2.88</td><td>-</td><td>3.50</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>2.32</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>Apr.</td><td>2.02</td><td>2.32</td><td>2.68</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>2.87</td><td>May.</td><td>1.92</td><td>2.30</td><td>2.65</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>June.</td><td>1.85</td><td>2.29</td><td>2.63</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>2.71</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>1943-May</td><td>1.98</td><td>2.31</td><td>2.67</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>8.</td><td>1.93</td><td>2.30</td><td>2.67</td></tr><tr><td colspan="11">Weekly Series - Saturday Figures 5/</td></tr><tr><td>1943-Jan.</td><td>2.08</td><td>2.34</td><td>2.72</td><td>1943-Mar.</td><td>6.</td><td>2.06</td><td>2.33</td><td>2.71</td><td>1943-May</td><td>1.</td><td>1.98</td><td>2.31</td><td>2.67</td></tr><tr><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><td>8.</td><td>1.93</td><td>2.30</td><td>2.67</td></tr><tr><td>16.</td><td>2.06</td><td>2.32</td><td>2.70</td><td>20.</td><td>2.09</td><td>6/</td><td>2.33</td><td>2.70</td><td>15.</td><td>1.91</td><td>2.30</td><td>2.64</td></tr><tr><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><td>22.</td><td>1.90</td><td>2.29</td><td>2.65</td></tr><tr><td>30.</td><td>2.06</td><td>2.32</td><td>2.69</td><td></td><td></td><td></td><td></td><td>29.</td><td>1.87</td><td>2.29</td><td>2.65</td></tr><tr><td>Feb.</td><td>6.</td><td>2.06</td><td>2.31</td><td>2.68</td><td>Apr.</td><td>3.</td><td>2.05</td><td>2.32</td><td>2.69</td><td>June</td><td>5.</td><td>1.86</td><td>2.29</td><td>2.65</td></tr><tr><td>13.</td><td>2.06</td><td>2.32</td><td>2.68</td><td>10.</td><td>2.05</td><td>2.32</td><td>2.69</td><td>12.</td><td>1.86</td><td>2.30</td><td>2.63</td></tr><tr><td>20.</td><td>2.06</td><td>2.32</td><td>2.68</td><td>17.</td><td>2.00</td><td>2.32</td><td>2.68</td><td>19.</td><td>1.85</td><td>2.28</td><td>2.62</td></tr><tr><td>27.</td><td>2.05</td><td>2.32</td><td>2.69</td><td>24.</td><td>1.99</td><td>2.31</td><td>2.68</td><td>26.</td><td>1.82</td><td>2.28</td><td>2.61</td></tr><tr><td colspan="11">Daily Series</td></tr><tr><td>1943-June</td><td>1.</td><td>1.87</td><td>2.29</td><td>2.64</td><td>1943-June 10.</td><td>1.86</td><td>2.30</td><td>2.64</td><td>1943-June 21.</td><td>1.84</td><td>2.28</td><td>2.62</td></tr><tr><td>2.</td><td>1.87</td><td>2.29</td><td>2.64</td><td>11.</td><td>1.86</td><td>2.30</td><td>2.63</td><td>22.</td><td>1.84</td><td>2.28</td><td>2.63</td></tr><tr><td>3.</td><td>1.87</td><td>2.29</td><td>2.64</td><td>12.</td><td>1.86</td><td>2.30</td><td>2.63</td><td>23.</td><td>1.84</td><td>2.28</td><td>2.63</td></tr><tr><td>4.</td><td>1.86</td><td>2.29</td><td>2.64</td><td>14.</td><td>1.86</td><td>2.29</td><td>2.63</td><td>24.</td><td>1.83</td><td>2.28</td><td>2.62</td></tr><tr><td>5.</td><td>1.86</td><td>2.29</td><td>2.65</td><td>15.</td><td>1.86</td><td>2.29</td><td>2.64</td><td>25.</td><td>1.83</td><td>2.28</td><td>2.61</td></tr><tr><td>7.</td><td>1.86</td><td>2.29</td><td>2.65</td><td>16.</td><td>1.85</td><td>2.28</td><td>2.64</td><td>26.</td><td>1.82</td><td>2.28</td><td>2.61</td></tr><tr><td>8.</td><td>1.85</td><td>2.29</td><td>2.64</td><td>17.</td><td>1.85</td><td>2.28</td><td>2.64</td><td>28.</td><td>1.82</td><td>2.28</td><td>2.60</td></tr><tr><td>9.</td><td>1.86</td><td>2.29</td><td>2.64</td><td>18.</td><td>1.85</td><td>2.28</td><td>2.63</td><td>29.</td><td>1.81</td><td>2.28</td><td>2.60</td></tr><tr><td></td><td></td><td></td><td></td><td>19.</td><td>1.85</td><td>2.28</td><td>2.62</td><td>30.</td><td>1.81</td><td>2.28</td><td>2.60</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.
Average of partially tax-exempt Treasury bonds neither due nor callable for twelve years. Partially tax-exempt bonds are those the interest on which is exempt from the normal rates of the Federal income tax. (In addition, interest derived from $5,000 aggregate principal amount of partially tax-exempt
Treasury bonds and United States savings bonds issued before March 1, 1941 is exempt from the surtax rates of the Federal income tax.
2/ Average of taxable Treasury bonds neither due nor callable for twelve years. Bonds which may not be held by all classes of investors (the 2-1/2's of 1962-67, the 2-1/2's of 1963-68, and the 2-1/2's of 1964-69) are excluded from the average. Taxable bonds are those the interest on which is subject to both the normal and surtax rates of the Federal income tax. This average commenced October 20, 1941.
3/ For discussion of composition of high-grade corporate bond average, see "Treasury Bulletin" for April 1943, page 61.
4/ Monthly averages of daily figures. Prior to April 1, 1938, corporate bonds are averages of Saturday figures.
5/ On days when the exchanges are closed, the date and prices of the previous day are used.
6/ Indicates change in composition of the average.
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS Monthly Series 1
63
GOVERNMENT CORPORATIONS AND CREDIT AGENCIES OF THE UNITED STATES
64
65
Assets and Liabilities of Government Corporations and Credit Agencies
May 31, 1943
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th colspan="10">Assets</th></tr><tr><th>Total</th><th>Loans</th><th>Preferred capital stock, etc.</th><th>Cash 1/</th><th>U.S. Government securities</th><th>Securities guaranteed by United States</th><th>Other</th><th>Accounts and other receivables 2/</th><th>Real estate and other business property</th><th>Due from Government corporations and agencies</th><th>Capital stock and paid-in surplus of Government corporations</th><th>Other assets</th></tr><tr><td>Banks for cooperatives</td><td>238.1</td><td>101.6</td><td>-</td><td>44.3</td><td>33.6</td><td>.2</td><td>56.4</td><td>1.7</td><td>.1</td><td>*</td><td>-</td><td>1.1</td></tr><tr><td>Commodity Credit Corporation</td><td>1,676.0</td><td>304.5</td><td>-</td><td>3.2</td><td>-</td><td>-</td><td>-</td><td>186.6</td><td>27.1</td><td>-</td><td>-</td><td>1,154.6</td></tr><tr><td>Disaster Loan Corporation</td><td>21.1</td><td>3.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>15.6</td><td>*</td><td>2.0</td><td>-</td><td>.1</td></tr><tr><td>Export-Import Bank of Washington</td><td>199.6</td><td>126.0</td><td>-</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>73.0</td><td>*</td><td>*</td><td>-</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>426.9</td><td>245.8</td><td>-</td><td>5.2</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>172.0</td><td>3.6</td></tr><tr><td>Farm Security Administration</td><td>563.9</td><td>454.0</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>25.6</td><td>.8</td><td>83.0</td><td>-</td><td>.5</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>26.6</td><td>-</td><td>-</td><td>5.8</td><td>-</td><td>-</td><td>-</td><td>4.9</td><td>-</td><td>-</td><td>-</td><td>16.0</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>685.0</td><td>35.3</td><td>-</td><td>16.4</td><td>579.7</td><td>-</td><td>-</td><td>33.7</td><td>.1</td><td>.5</td><td>-</td><td>19.3</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,139.2</td><td>468.1</td><td>-</td><td>10.8</td><td>-</td><td>100.0</td><td>506.8</td><td>42.1</td><td>-</td><td>2.4</td><td>-</td><td>9.0</td></tr><tr><td>Federal home loan banks</td><td>257.8</td><td>79.2</td><td>-</td><td>21.2</td><td>155.5</td><td>.8</td><td>*</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Federal Housing Administration</td><td>120.4</td><td>-</td><td>-</td><td>17.1</td><td>55.6</td><td>-</td><td>-</td><td>42.4</td><td>1.3</td><td>.4</td><td>-</td><td>3.7</td></tr><tr><td>Federal intermediate credit banks</td><td>379.1</td><td>286.8</td><td>-</td><td>21.0</td><td>36.0</td><td>-</td><td>-</td><td>2.1</td><td>-</td><td>33.0</td><td>-</td><td>.2</td></tr><tr><td>Federal land banks 3/</td><td>2,057.6</td><td>1,502.4</td><td>-</td><td>31.8</td><td>220.5</td><td>99.3</td><td>4.1</td><td>149.7</td><td>5.3</td><td>5.2</td><td>-</td><td>35.3</td></tr><tr><td>Federal National Mortgage Association</td><td>207.9</td><td>201.7</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>-</td><td>5.1</td><td>*</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>16.9</td><td>-</td><td>-</td><td>6.1</td><td>-</td><td>-</td><td>-</td><td>2.3</td><td>7.1</td><td>-</td><td>-</td><td>1.4</td></tr><tr><td>Federal Public Housing Authority</td><td>549.5</td><td>373.8</td><td>-</td><td>29.5</td><td>7.2</td><td>-</td><td>*</td><td>6.4</td><td>132.7</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>141.3</td><td>-</td><td>-</td><td>1.1</td><td>60.2</td><td>74.6</td><td>-</td><td>5.5</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 5/</td><td>2.6</td><td>2.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,947.5</td><td>1,460.4</td><td>108.8</td><td>58.5</td><td>10.0</td><td>-</td><td>-</td><td>4.1</td><td>2.6</td><td>-</td><td>100.0</td><td>203.1</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>24.3</td><td>.4</td><td>-</td><td>1.0</td><td>5.5</td><td>-</td><td>-</td><td>.8</td><td>16.6</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.8</td><td>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama Railroad Company 5/</td><td>69.8</td><td>-</td><td>-</td><td>9.6</td><td>8.9</td><td>-</td><td>*</td><td>.6</td><td>46.2</td><td>4.3</td><td>-</td><td>.1</td></tr><tr><td>Production credit corporations</td><td>127.4</td><td>-</td><td>-</td><td>.4</td><td>36.1</td><td>-</td><td>90.3</td><td>.4</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Public Works 6/</td><td>90.2</td><td>90.2</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>22.4</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>7,465.9</td><td>1,487.4</td><td>355.5</td><td>3.78/</td><td>63.7</td><td>-</td><td>8.3</td><td>34.47/5/</td><td>1.0</td><td>5,096.8</td><td>360.7</td><td>54.4</td></tr><tr><td>Regional agricultural credit corporations</td><td>67.4</td><td>46.8</td><td>-</td><td>20.5</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>*</td><td>-</td><td>*</td></tr><tr><td>RFC Mortgage Company, The</td><td>111.4</td><td>98.0</td><td>-</td><td>*</td><td>-</td><td>.4</td><td>-</td><td>2.4</td><td>6.6</td><td>-</td><td>-</td><td>3.9</td></tr><tr><td>Rural Electrification Administration</td><td>362.3</td><td>344.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>9.1</td><td>-</td><td>8.9</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>645.8</td><td>-</td><td>-</td><td>5.2</td><td>.1</td><td>-</td><td>-</td><td>6.2</td><td>631.4</td><td>3.0</td><td>-</td><td>.1</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>.3</td><td>.3</td><td>*</td><td>*</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>4,691.5</td><td>20.1</td><td>-</td><td>*</td><td>-</td><td>-</td><td>69.0</td><td>32.3</td><td>18.4</td><td>67.4</td><td>-</td><td>4,484.4</td></tr><tr><td>War corporations and activities (World War I) 9/</td><td>5.8</td><td>-</td><td>-</td><td>.6</td><td>.1</td><td>-</td><td>*</td><td>4.2</td><td>*</td><td>-</td><td>-</td><td>.9</td></tr><tr><td>War corporations (World War II) 10/</td><td>6,248.6</td><td>181.4</td><td>1.1</td><td>189.1</td><td>-</td><td>-</td><td>1.0</td><td>728.2</td><td>78.5</td><td>18.9</td><td>-</td><td>5,050.6</td></tr><tr><td>War Shipping Administration</td><td>818.1</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>92.1</td><td>499.3</td><td>32.0</td><td>-</td><td>24.7</td></tr><tr><td>Other Government agencies 11/</td><td>6,529.7</td><td>26.4</td><td>11.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>6,404.1</td><td>-</td><td>27.6</td></tr><tr><td>Gross total</td><td>37,765.6</td><td>7,949.4</td><td>478.1</td><td>504.4</td><td>1,272.6</td><td>276.0</td><td>736.0</td><td>1,513.5</td><td>1,475.2</td><td>11,821.9</td><td>632.7</td><td>11,106.7</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>12,454.6</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>-11,821.9</td><td>-632.7</td><td></td></tr><tr><td>Net total</td><td>25,312.0</td><td>7,949.4</td><td>478.1</td><td>504.4</td><td>1,272.6</td><td>276.0</td><td>736.0</td><td>1,513.5</td><td>1,475.2</td><td>0</td><td>0</td><td>11,106.7</td></tr></table>
(Continued on following page)
66
Assets and Liabilities of Government Corporations and Credit Agencies
May 31, 1943 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th colspan="5">Liabilities and reserves</th><th colspan="5">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 colspan="2">Due to Government corporations and agencies</th><th>Excess of assets (Total proprietary interest)</th><th>Pri-vately owned</th><th colspan="3">Owned by United States 12/</th></tr><tr><th></th><th></th><th></th><th></th><th>Treasury</th><th>Other</th><th></th><th></th><th>Total</th><th>Capital stock</th><th>Surplus</th><th>Non-stock</th></tr><tr><td>Banks for cooperatives</td><td>34.9</td><td>-</td><td>.4</td><td>-</td><td>33.0</td><td>1.5</td><td>203.1</td><td>5.6</td><td>197.6</td><td>172.0</td><td>25.6</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,580.2</td><td>487.0</td><td>325.5</td><td>700.7</td><td>-</td><td>67.1</td><td>95.8</td><td>-</td><td>95.8</td><td>100.0</td><td>4.2</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>.1</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>20.9</td><td>-</td><td>20.9</td><td>24.0</td><td>-3.1</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>199.3</td><td>-</td><td>199.3</td><td>175.0</td><td>24.3</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>213.6</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>213.3</td><td>213.3</td><td>-</td><td>213.3</td><td>-</td><td>-</td><td>213.3</td></tr><tr><td>Farm Security Administration</td><td>256.9</td><td>-</td><td>16.9</td><td>-</td><td>240.0</td><td>-</td><td>307.0</td><td>-</td><td>307.0</td><td>-</td><td>-</td><td>307.0</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>14.1</td><td>-</td><td>14.0</td><td>-</td><td>-</td><td>.1</td><td>12.5</td><td>-</td><td>12.5</td><td>35.0</td><td>-22.5</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>395.7</td><td>-</td><td>7.2</td><td>-</td><td>-</td><td>388.5</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>1,038.4</td><td>935.9</td><td>7.8</td><td>-</td><td>.8</td><td>93.9</td><td>100.8</td><td>-</td><td>100.8</td><td>100.0</td><td>.8</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>62.1</td><td>-</td><td>62.1</td><td>-</td><td>-</td><td>-</td><td>195.7</td><td>70.9</td><td>124.7</td><td>124.7</td><td>-</td><td>93.6</td></tr><tr><td>Federal Housing Administration</td><td>26.8</td><td>24.713/</td><td>2.0</td><td>-</td><td>-</td><td>.2</td><td>93.6</td><td>-</td><td>93.6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal intermediate credit banks</td><td>290.2</td><td>-</td><td>290.1</td><td>-</td><td>.1</td><td>.1</td><td>88.9</td><td>-</td><td>88.9</td><td>60.0</td><td>28.9</td><td>-</td></tr><tr><td>Federal land banks 4/</td><td>1,574.0</td><td>-</td><td>1,505.4</td><td>-</td><td>1.2</td><td>67.3</td><td>479.7</td><td>224.5</td><td>255.2</td><td>113.6</td><td>141.6</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>189.5</td><td>-</td><td>61.1</td><td>-</td><td>128.4</td><td>-</td><td>18.3</td><td>-</td><td>18.3</td><td>10.0</td><td>8.3</td><td>4.6</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>.5</td><td>-</td><td>.5</td><td>-</td><td>-</td><td>-</td><td>16.4</td><td>-</td><td>16.4</td><td>-</td><td>11.8</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>408.0</td><td>114.7</td><td>.2</td><td>284.2</td><td>-</td><td>8.9</td><td>141.5</td><td>-</td><td>141.5</td><td>1.0</td><td>140.5</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>139.3</td><td>-</td><td>139.3</td><td>100.0</td><td>39.3</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>2.6</td><td>-</td><td>2.6</td><td>-</td><td>-</td><td>2.6</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,854.2</td><td>1,549.1</td><td>29.5</td><td>232.1</td><td>-</td><td>53.5</td><td>83.3</td><td>-</td><td>83.3</td><td>200.0</td><td>-116.7</td><td>-</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>1.1</td><td>-</td><td>.9</td><td>-</td><td>-</td><td>.2</td><td>23.2</td><td>-</td><td>23.2</td><td>12.0</td><td>11.2</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.8</td><td>-</td><td>2.8</td><td>-</td><td>-</td><td>2.8</td></tr><tr><td>Panama Railroad Company 5/</td><td>11.3</td><td>-</td><td>8.9</td><td>-</td><td>.4</td><td>2.1</td><td>58.5</td><td>-</td><td>58.5</td><td>7.0</td><td>51.5</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.3</td><td>-</td><td>-</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 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>90.2</td><td>-</td><td>90.2</td><td>-</td><td>-</td><td>90.2</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>22.4</td><td>-</td><td>22.4</td><td>-</td><td>-</td><td>22.4</td></tr><tr><td>Reconstruction Finance Corporation</td><td>6,796.71/</td><td>998.28/</td><td>488.378/</td><td>5,093.4</td><td>91.9</td><td>125.0</td><td>669.2</td><td>-</td><td>669.2</td><td>325.0</td><td>344.28/</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>4.9</td><td>-</td><td>4.7</td><td>-</td><td>-</td><td>.1</td><td>62.5</td><td>-</td><td>62.5</td><td>44.5</td><td>18.0</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>84.7</td><td>-</td><td>4.3</td><td>-</td><td>80.5</td><td>-</td><td>26.7</td><td>-</td><td>26.7</td><td>25.0</td><td>1.7</td><td>128.9</td></tr><tr><td>Rural Electrification Administration</td><td>233.5</td><td>-</td><td>-</td><td>-</td><td>233.5</td><td>-</td><td>128.9</td><td>-</td><td>128.9</td><td>-</td><td>-</td><td>128.9</td></tr><tr><td>Tennessee Valley Authority</td><td>81.8</td><td>-</td><td>20.0</td><td>56.9</td><td>.5</td><td>4.4</td><td>564.0</td><td>-</td><td>564.0</td><td>-</td><td>-</td><td>564.0</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>1,744.8</td><td>-</td><td>1,716.5</td><td>-</td><td>.2</td><td>28.1</td><td>2,946.7</td><td>-</td><td>2,946.7</td><td>-</td><td>-</td><td>2,946.7</td></tr><tr><td>War corporations and activities (World War I) 2/</td><td>.5</td><td>-</td><td>.2</td><td>-</td><td>.1</td><td>.2</td><td>5.3</td><td>-</td><td>5.3</td><td>25.5</td><td>-23.8</td><td>3.7</td></tr><tr><td>War corporations (World War II) 10/</td><td>6,184.7</td><td>-</td><td>1,638.0</td><td>4,528.9</td><td>17.8</td><td>63.9</td><td>63.9</td><td>-</td><td>63.9</td><td>186.7</td><td>-150.4</td><td>27.6</td></tr><tr><td>War Shipping Administration</td><td>295.0</td><td>-</td><td>113.4</td><td>-</td><td>1.1</td><td>181.6</td><td>353.1</td><td>-</td><td>353.1</td><td>-</td><td>-</td><td>353.1</td></tr><tr><td>Other Government agencies 11/</td><td>115.1</td><td>-</td><td>-</td><td>115.1</td><td>-</td><td>-</td><td>6,414.5</td><td>-</td><td>6,414.5</td><td>11.5</td><td>-</td><td>6,403.0</td></tr><tr><td>Gross total</td><td>23,506.0</td><td>4,109.6</td><td>6,320.3</td><td>6,367.2</td><td>5,454.7</td><td>1,254.2</td><td>14,260.6</td><td>440.2</td><td>13,820.3</td><td>2,122.5</td><td>534.5</td><td>11,163.4</td></tr><tr><td>Adjustment to eliminate interagency interest</td><td>-11,821.9</td><td>-</td><td>-</td><td>-6,367.2</td><td>-5,454.7</td><td>-</td><td>-632.7</td><td>-</td><td>-632.7</td><td>-631.7</td><td>-1.0</td><td>-</td></tr><tr><td>Net total</td><td>11,684.1</td><td>4,109.6</td><td>6,320.3</td><td>0</td><td>0</td><td>1,254.2</td><td>13,627.8</td><td>440.2</td><td>13,187.6</td><td>1,490.7</td><td>533.5</td><td>11,163.4</td></tr></table>
Source: Daily Treasury Statement.
* 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 lending 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 April 30, 1943, the latest available.
6/ Consists of loans made by Public Works Administration for $89,210,747 and by War Public Works for $943,447.
7/ 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.
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 Development Corporation, Rubber Reserve Company, Smaller War Plante Corporation, U. S. Commercial Company and War Damage Corporation.
11/ Comprises Treasury Department and other Government agencies not listed in this statement.
12/ Excludes the interest of the United States represented by obligations held by the Treasury.
13/ Includes claims for debentures authorized and pending in amount of $905,750.
67
Sources of Funds of Certain Government Corporations and Credit Agencies for the First Eleven Months, Fiscal Year 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscounts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 22,000,000</td><td>$ 4,196,107</td><td>-</td><td>-</td><td>$ -171,200</td></tr><tr><td>Commodity Credit Corporation</td><td>-9,815,514 2/</td><td>-</td><td>$ 300,000,000</td><td>$-229,543,000</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>2,000,000</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>198,819</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>-56,500,000</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>18,949,032</td><td>-</td><td>-29,552,000</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>12,604,058</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>-320,000,000</td><td>-</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>-</td><td>8,151,000</td><td>2,640,556,678</td><td>-323,606,000</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>15,062,889</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>2,808,468</td><td>2,145,250</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Var corporations 4/</td><td>150,000,000</td><td>2,696,780,217</td><td>-</td><td>-</td><td>1,500,000</td></tr><tr><td>Total</td><td>$177,597,012</td><td>$2,747,443,314</td><td>$2,366,556,678</td><td>$-639,211,000</td><td>$1,328,800</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 5/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 99,095,238</td><td>$ 1,021,697</td><td>$ 25,284</td><td>$ 126,167,127</td></tr><tr><td>Commodity Credit Corporation</td><td>$2,287,900,365</td><td>133,575,393</td><td>9,858,482</td><td>93,630,874</td><td>2,585,806,600</td></tr><tr><td>Disaster Loan Corporation</td><td>27,690</td><td>6,580,931</td><td>-940,366</td><td>54,351</td><td>5,722,607</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>13,356,128</td><td>5,389,348</td><td>-</td><td>20,745,476</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>26,190,849</td><td>71,277,496</td><td>322,895</td><td>98,002,059</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>9,487,462</td><td>123,581,127</td><td>60,71,312</td><td>10,727,770</td><td>-58,468,749</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>191,704,134</td><td>4,652,562</td><td>3,359,650</td><td>143,216,446</td></tr><tr><td>Federal National Mortgage Association</td><td>767,983</td><td>20,621,916</td><td>9,251,759</td><td>226,620</td><td>20,255,310</td></tr><tr><td>Federal Public Housing Authority</td><td>22,704</td><td>160,736,098</td><td>11,705,426</td><td>259,274</td><td>194,327,520</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>7,248,079</td><td>556,198</td><td>7,804,277</td></tr><tr><td>Home Owners' Loan Corporation</td><td>56,147,937</td><td>206,428,668</td><td>92,742,557</td><td>4,510,038</td><td>39,829,201</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>5,456,418</td><td>376,306,549</td><td>87,772,454</td><td>2,766,340</td><td>2,797,403,439</td></tr><tr><td>RFC Mortgage Company, The</td><td>319,613</td><td>22,351,209</td><td>3,571,351</td><td>1,956,946</td><td>43,292,007</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>10,951,519</td><td>7,774,493</td><td>89</td><td>23,679,829</td></tr><tr><td>War corporations 3/</td><td>781,640,291</td><td>106,656,456</td><td>5,441,268</td><td>1,247,787,871</td><td>4,992,766,102</td></tr><tr><td>Total</td><td>$3,141,770,463</td><td>$1,498,166,215</td><td>$380,497,598</td><td>$1,366,384,160</td><td>$11,040,533,241</td></tr></table>
Source: Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Represents balance of repayment of amounts paid to the Commodity Credit Corporation for capital impairment on basis of appraisal of the corporation as of March 31, 1942, pursuant to Public No. 442 - 75th Congress, approved March 8, 1936.
3/ Includes the Electric Hose and Farm Authority, which was transferred for purposes of liquidation to the Reconstruction Finance
Corporation by Executive order effective October 31, 1942, Comprises Cargoes, Incorporated, Defense Home Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Development Corporation, U. S. Commercial Company and War Damage Corporation. Receipts from the sales of property acquired in liquidation of loans are shown an "Sale of other property acquired".
68
Uses of Funds of Certain Government Corporations and Credit Agencies for the First Eleven Months, Fiscal Year 1943
<table><tr><th>Corporations or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives.</td><td>$ 120,021</td><td>-</td><td>-</td><td>$ 92,825,660</td><td>-</td></tr><tr><td>Commodity Credit Corporation.</td><td>3,989,839</td><td>-</td><td>$2,194,009,737</td><td>282,345,798</td><td>-</td></tr><tr><td>Disaster Loan Corporation.</td><td>327,540</td><td>$ 10,683</td><td>-</td><td>978,970</td><td>-</td></tr><tr><td>Export-Import Bank of Washington.</td><td>187,752</td><td>6,353</td><td>-</td><td>26,581,664</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation.</td><td>3,832,126</td><td>-</td><td>-</td><td>10,130,479</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation.</td><td>7,351,196</td><td>977,033</td><td>2,702,527</td><td>21,216,764</td><td>-</td></tr><tr><td>Federal home loan banks.</td><td>1,167,000</td><td>-</td><td>-</td><td>78,280,557</td><td>-</td></tr><tr><td>Federal National Mortgage Association.</td><td>881,739</td><td>1,367,800</td><td>-</td><td>6,983,102</td><td>-</td></tr><tr><td>Federal Public Housing Authority.</td><td>3,133,717</td><td>965,650</td><td>5,318,761</td><td>153,610,827</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation.</td><td>271,338</td><td>38,484</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation.</td><td>9,832,041</td><td>14,654,225</td><td>9,861,945</td><td>3,982,106</td><td>$28,438,750</td></tr><tr><td>Reconstruction Finance Corporation 2/.</td><td>9,921,606</td><td>3,427,858</td><td>472,635</td><td>385,276,185</td><td>-</td></tr><tr><td>RFC Mortgage Company, The.</td><td>805,272</td><td>333,375</td><td>1,829,341</td><td>38,767,925</td><td>-</td></tr><tr><td>Rural Electrification Administration.</td><td>2,669,577</td><td>-</td><td>-</td><td>13,343,606</td><td>-</td></tr><tr><td>War corporations 3/.</td><td>3,826,825</td><td>13,293,666</td><td>3,842,124,247</td><td>215,231,582</td><td>-</td></tr><tr><td>Total.</td><td>$48,317,589</td><td>$35,075,127</td><td>$6,056,319,193</td><td>$1,329,555,225</td><td>$28,438,750</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net)</th><th>Allocations, rediscounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 11,121,755</td><td>-</td><td>$ 300,097</td><td>$ 21,930</td><td>$ 124,389,463</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$ 68,482,049</td><td>11,278,552</td><td>26,471,786</td><td>2,586,577,761</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>4,402,852</td><td>-</td><td>2,562</td><td>5,722,607</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>4,800,000</td><td>-</td><td>-</td><td>21,975,769</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>89,592,444</td><td>-</td><td>-</td><td>1,189,187</td><td>104,744,237</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>-126,979,040</td><td>-</td><td>29,181,768</td><td>3,123,907</td><td>-62,425,544</td></tr><tr><td>Federal home loan banks</td><td>86,897,911</td><td>-</td><td>2,515,457</td><td>204,918</td><td>169,365,543</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>11,028,735</td><td>-6,066</td><td>20,255,310</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>3,736,125</td><td>8,702,820</td><td>175,467,901</td></tr><tr><td>Federal Savings and Loan Insurance Corporations</td><td>12,076,156</td><td>-</td><td>-</td><td>-1,272,658</td><td>11,113,320</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-48,307,200</td><td>-</td><td>31,931,292</td><td>-335,520</td><td>50,057,639</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>1,000,001</td><td>2,381,449,314</td><td>36,786,422</td><td>3,086,923</td><td>2,821,420,943</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>-</td><td>1,633,584</td><td>-77,930</td><td>43,292,007</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>6,999,742</td><td>-</td><td>22,612,924</td></tr><tr><td>Var corporations 3/</td><td>1,000,000</td><td>144,750,906</td><td>1,110,637</td><td>608,327,685</td><td>4,529,665,548</td></tr><tr><td>Total</td><td>$ 46,402,027</td><td>$2,594,285,121</td><td>$136,402,411</td><td>$649,439,984</td><td>$10,924,235,428</td></tr></table>
Sources: Reports received from the corporations and agencies. Data on basis of checks issued. 1/ Receipts from the repayment of mortgage loans appear under "Re-payment of loans" in the statement of sources of funds. 2/ Includes the Electric Home and Farm Authority, which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942. 3/ Comprises Cargoes, Incorporated, Defense Homes Corporation.
Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation. Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
69
Sources of Funds of Certain Government Corporations and Credit Agencies
from Inception of Organization through May 31, 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, rediscoumte, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net) 2/</th><th>Sales of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 72,000,000</td><td>$ 15,132,216</td><td>-</td><td>-</td><td>$ 1,106,300</td></tr><tr><td>Commodity Credit Corporation</td><td>243,950,524 3/</td><td>-</td><td>$ 700,000,000</td><td>$ 471,511,000</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>2,000,000</td><td>-</td><td>-</td><td>174,000,000</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>150,000,000</td><td>198,819</td><td>-</td><td>-</td><td>139,299,557</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>100,000,000 5/</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>35,000,000</td><td>124,741,000 5/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>123,065,343</td><td>-</td><td>55,678,000</td><td>11,000,000</td></tr><tr><td>Federal Public Housing Authority</td><td>60,303,525</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 6/</td><td>-</td><td>231,000,000</td><td>3,114,853,550</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>325,000,000</td><td>8,251,000</td><td>5,174,475,124</td><td>896,046,000</td><td>-</td></tr><tr><td>EPC Mortgage Company, The</td><td>-</td><td>77,347,648</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>139,780,388</td><td>230,043,123</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 1/</td><td>150,000,000</td><td>4,523,385,534</td><td>-</td><td>-</td><td>36,601,000</td></tr><tr><td>Total</td><td>$1,466,034,437</td><td>$4,979,423,683</td><td>$6,388,475,124</td><td>$5,616,609,750</td><td>$611,747,857</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 5/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 410,109,878</td><td>$ 12,497,117</td><td>$ 4,684,791</td><td>$ 515,530,303</td></tr><tr><td>Commodity Credit Corporation</td><td>$3,363,479,179</td><td>1,146,647,084</td><td>40,679,191</td><td>103,496,256</td><td>6,071,963,233</td></tr><tr><td>Disaster Loan Corporation</td><td>168,291</td><td>24,447,953</td><td>907,577</td><td>88,485</td><td>49,612,307</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>134,214,019</td><td>22,568,469</td><td>707,119</td><td>334,489,608</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>128,111,642</td><td>438,667,547</td><td>4,737,622</td><td>861,015,387</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>31,432,068</td><td>530,307,679</td><td>555,980,664</td><td>24,093,303</td><td>2,171,571,914</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>927,993,100</td><td>51,331,731</td><td>84,696,986 2/</td><td>1,223,762,817</td></tr><tr><td>Federal National Mortgage Association</td><td>2,029,749</td><td>66,462,987</td><td>38,399,243</td><td>4,878,874</td><td>301,514,196</td></tr><tr><td>Federal Public Housing Authority</td><td>974,105</td><td>835,374,833</td><td>51,766,624</td><td>1,579,367</td><td>1,347,155,454</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>50,333,613</td><td>775,169</td><td>151,108,782</td></tr><tr><td>Home Owners' Loan Corporation</td><td>240,605,205</td><td>1,360,574,069</td><td>1,075,982,852</td><td>32,935,165</td><td>6,255,550,841</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>33,191,237</td><td>6,068,768,967</td><td>774,285,920</td><td>124,578,949</td><td>13,404,597,197</td></tr><tr><td>RFC Mortgage Company, The</td><td>1,093,608</td><td>160,045,879</td><td>19,137,460</td><td>6,701,462</td><td>289,326,258</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>23,657,588</td><td>23,531,638</td><td>229</td><td>417,012,966</td></tr><tr><td>War corporations 1/</td><td>1,138,349,036</td><td>107,961,676</td><td>11,206,984</td><td>1,440,375,469</td><td>7,407,879,699</td></tr><tr><td>Total</td><td>$4,813,322,678</td><td>$11,924,877,554</td><td>$3,167,276,630</td><td>$1,834,329,246</td><td>$40,802,096,962</td></tr></table>
Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Except for the R.O.I.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 R.O.I.C., the original amount of obligations sold is the market as 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.
3/ Includes $3,000,000 B.I.R.A.; $97,000,000 B.J.C. included in notes canceled by the Treasury (See footnote b/); and $143,950,524 restoration of capital impairment, which is not of repayments to the Treasury of $13,756,731 on the basis of March 31, 1940 appraisal, and $27,615,514 on the basis of March 31, 1942 appraisal of the corporation, pursuant to Public No. 442 - 75th Congress, approved March 8, 1938.
b/ These funds were furnished by the E.J.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 2d, 1936. 5/ The B.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 an 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. 1/ Comprises Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation. 8/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired". 9/ Includes $54,193,925 paid-in capital stock held by member institutions.
70
Uses of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through May 31, 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 1,130,406</td><td>-</td><td>-</td><td>$ 439,249,193</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>14,974,274</td><td>-</td><td>$3,381,455,868</td><td>2,432,553,351</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>3,791,116</td><td>$ 140,442</td><td>-</td><td>30,233,910</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>879,303</td><td>18,252</td><td>-</td><td>260,213,469</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>31,143,883</td><td>-</td><td>-</td><td>197,535,553</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>86,377,452</td><td>6,759,955</td><td>19,441,097</td><td>1,083,545,686</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>12,007,707</td><td>-</td><td>-</td><td>1,007,214,459</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>4,745,364</td><td>5,392,336</td><td>-</td><td>270,982,807</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>22,704,262</td><td>7,680,432</td><td>31,622,743</td><td>1,209,139,901</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1,894,370</td><td>99,520</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>242,967,852</td><td>153,044,952</td><td>155,332,195</td><td>3,273,246,290</td><td>$1,574,574,550 2/</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>101,375,119</td><td>13,273,883</td><td>472,635</td><td>8,020,346,521</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>5,978,645</td><td>4,986,512</td><td>9,816,510</td><td>259,394,336</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>17,608,567</td><td>-</td><td>-</td><td>367,959,616</td><td>-</td></tr><tr><td>Var corporations 4/</td><td>5,067,998</td><td>14,005,405</td><td>5,773,230,658</td><td>288,550,133</td><td>-</td></tr><tr><td>Total</td><td>$552,646,318</td><td>$205,401,689</td><td>$9,371,371,706</td><td>$19,140,165,225</td><td>$1,574,574,550</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) 5/</th><th>Allocations, rediscounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, assets of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 44,772,496</td><td>-</td><td>$ 961,234</td><td>$ 3,542,693</td><td>$ 489,656,022</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$ 152,814,234</td><td>42,582,585</td><td>44,827,393</td><td>6,069,207,705</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>15,442,750</td><td>-</td><td>3,088</td><td>49,611,307</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>70,050,000</td><td>2,362,329</td><td>593,801</td><td>334,117,154</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>581,540,598</td><td>-</td><td>-</td><td>34,588,845</td><td>844,808,880</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>606,834,800</td><td>-</td><td>337,308,787</td><td>23,714,629</td><td>2,163,982,405</td></tr><tr><td>Federal home loan banks</td><td>156,265,826</td><td>-</td><td>26,585,885</td><td>518,222</td><td>1,202,592,099</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>20,142,356</td><td>251,332</td><td>301,514,196</td></tr><tr><td>Federal Public Housing Authority</td><td>7,070,000</td><td>-</td><td>10,059,404</td><td>23,480,862</td><td>1,311,757,604</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>134,921,994</td><td>-</td><td>3,035,326</td><td>10,097,297 6/</td><td>150,048,507</td></tr><tr><td>Home Owners' Loan Corporation</td><td>218,762,660</td><td>-</td><td>572,127,676</td><td>6,832,309</td><td>6,196,888,485</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>369,041,001</td><td>4,577,898,542</td><td>302,041,864</td><td>18,871,847</td><td>13,403,321,412</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>-</td><td>8,809,543</td><td>339,585</td><td>289,325,131</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>18,815,231</td><td>371,526</td><td>404,754,939</td></tr><tr><td>War corporations 4/</td><td>1,000,000</td><td>150,211,512</td><td>1,111,385</td><td>1,005,593,474</td><td>7,238,770,566</td></tr><tr><td>Total</td><td>$2,120,209,375</td><td>$4,966,817,038</td><td>$1,345,943,605</td><td>$1,173,626,903</td><td>$40,450,356,412</td></tr></table>
Reports received from the corporations and agencies. Data on the 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.
h/ comprises Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation,
5/ Includes U. S. Government bonds in the amount of $644,993,357 as follows: Federal Deposit Insurance Corporation, $478,540,598; Federal Savings and Loan Insurance Corporation, $26,664,500; Federal Public Housing Authority, $7,070,000; Federal home loan banks, $127,166,259; 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 colspan="2">Social Security taxes 5/</th><th>Carriers' Taxing Act of 1937</th></tr><tr><th></th><th></th><th></th><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></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>1943</td><td>22,368,713</td><td>16,298,876</td><td>6,629,932</td><td>9,584,703</td><td>84,241</td><td>1,498,705</td><td>1,131,546</td><td>156,008</td><td>211,151</td></tr><tr><td>1942-June</td><td>2,444,186</td><td>2,131,452</td><td>727,125</td><td>1,393,448</td><td>10,879</td><td>28,383</td><td>3,358</td><td>1,145</td><td>23,880</td></tr><tr><td>July</td><td>807,454</td><td>221,585</td><td>62,873</td><td>156,218</td><td>2,494</td><td>127,019</td><td>120,882</td><td>5,536</td><td>601</td></tr><tr><td>August</td><td>681,368</td><td>164,032</td><td>40,523</td><td>120,313</td><td>3,196</td><td>177,282</td><td>140,967</td><td>5,993</td><td>30,322</td></tr><tr><td>September</td><td>2,459,874</td><td>2,122,989</td><td>670,306</td><td>1,436,081</td><td>16,602</td><td>22,096</td><td>4,562</td><td>808</td><td>16,726</td></tr><tr><td>October</td><td>702,425</td><td>220,386</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>28,964</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>797,287</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>2,872,526</td><td>20,785</td><td>26,276</td><td>919</td><td>2,819</td><td>22,538</td></tr><tr><td>April</td><td>1,472,335</td><td>1,007,599</td><td>681,617</td><td>325,154</td><td>828</td><td>120,034</td><td>107,038</td><td>5,849</td><td>7,147</td></tr><tr><td>May</td><td>1,364,980</td><td>753,477</td><td>511,407</td><td>239,127</td><td>2,943</td><td>238,930</td><td>203,410</td><td>9,047</td><td>26,453</td></tr><tr><td>June</td><td>4,383,420</td><td>4,026,494</td><td>1,813,548</td><td>2,205,584</td><td>7,362</td><td>27,747</td><td>2,593</td><td>1,186</td><td>23,968</td></tr></table>
Miscellaneous internal revenue
<table><tr><th>Piecail year or month</th><th>Total</th><th>Capital stock tax</th><th>Estate and gift taxes</th><th>Alcoholic beverage taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>Manufacturere' and retailer' excise taxes</th><th>Miscellaneous taxes 5/</th><th>Agricultural adjustment taxes</th></tr><tr><td>1934</td><td>1,481,160</td><td>80,168</td><td>113,138</td><td>258,911</td><td>425,169</td><td>66,580</td><td>390,038</td><td>147,156</td><td>371,423</td></tr><tr><td>1935</td><td>1,649,782</td><td>91,508</td><td>212,112</td><td>410,926</td><td>458,776</td><td>43,133</td><td>342,275</td><td>91,052</td><td>526,222</td></tr><tr><td>1936</td><td>2,004,514</td><td>94,943</td><td>378,840</td><td>505,243</td><td>500,786</td><td>68,990</td><td>379,540</td><td>76,172</td><td>62,323</td></tr><tr><td>1937</td><td>2,188,735</td><td>137,499</td><td>305,548</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>2,359,041</td><td>132,739</td><td>360,071</td><td>624,064</td><td>608,072</td><td>38,681</td><td>447,088</td><td>148,926</td><td>-</td></tr><tr><td>1941</td><td>2,954,553</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>432,540</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>1943</td><td>4,571,132</td><td>328,795</td><td>447,496</td><td>1,423,481</td><td>923,857</td><td>45,155</td><td>670,015</td><td>732,333</td><td>-</td></tr><tr><td>1942-June</td><td>284,351</td><td>264</td><td>25,321</td><td>86,004</td><td>71,446</td><td>2,735</td><td>56,369</td><td>42,212</td><td>-</td></tr><tr><td>July</td><td>458,850</td><td>228</td><td>45,582</td><td>113,986</td><td>74,077</td><td>2,817</td><td>61,935</td><td>160,225</td><td>-</td></tr><tr><td>August</td><td>340,054</td><td>233</td><td>29,681</td><td>122,896</td><td>73,933</td><td>2,653</td><td>59,756</td><td>50,902</td><td>-</td></tr><tr><td>September</td><td>314,789</td><td>589</td><td>27,919</td><td>111,280</td><td>77,148</td><td>2,681</td><td>55,996</td><td>39,176</td><td>-</td></tr><tr><td>October</td><td>348,120</td><td>266</td><td>35,147</td><td>118,949</td><td>82,532</td><td>3,167</td><td>66,042</td><td>42,017</td><td>-</td></tr><tr><td>November</td><td>478,111</td><td>185,445</td><td>26,954</td><td>104,431</td><td>78,607</td><td>3,399</td><td>47,137</td><td>32,138</td><td>-</td></tr><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><tr><td>April</td><td>344,702</td><td>-2,362 1/</td><td>39,909</td><td>112,757</td><td>76,684</td><td>5,115</td><td>48,793</td><td>63,806</td><td>-</td></tr><tr><td>May</td><td>372,593</td><td>193</td><td>46,370</td><td>109,274</td><td>71,339</td><td>5,127</td><td>60,309</td><td>79,981</td><td>-</td></tr><tr><td>June</td><td>329,179</td><td>365</td><td>28,672</td><td>115,231</td><td>79,821</td><td>4,993</td><td>39,195</td><td>60,902</td><td>-</td></tr></table>
Source: Reports of collections.
1/ Includes 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.
4/ Consists of the declared value excess profits tax, the profit
limiting provisions of the Vinson Act, and the tax on unjust enrichment.
5/ 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.
6/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
1/ Includes correction of December 1942 collection.
73
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to 1943
DOLLARS Billions Total DOLLARS Billions Individual Income DOLLARS Billions Corporation Income and Excess Profit* DOLLARS Billions Estate and Gift DOLLARS Billions Alcohol Tobacco DOLLARS Billions Agricultural Adjustment DOLLARS Billions Employment DOLLARS Billions Manufacturers' and Retailers' Excise DOLLARS Billions Other Miscellaneous Internal Revenue
Includes miscellaneous profit taxes
74
Detailed Analysis of Current Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th>June 1943</th><th colspan="2">Fiscal year</th><th>Sources of revenue</th><th>June 1943</th><th colspan="2">Fiscal year</th></tr><tr><th></th><th></th><th>1942</th><th>1943</th><th></th><th></th><th>1942</th><th>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>1,800,313</td><td>3,108,005</td><td>5,771,001</td><td>Bonds, issues of capital stocks, deeds of conveyance, etc.</td><td>2,161</td><td>22,876</td><td>21,766</td></tr><tr><td>Back</td><td>8,568</td><td>154,795</td><td>172,916</td><td>Transfers of capital stock and similar</td><td>2,186</td><td>13,028</td><td>15,584</td></tr><tr><td>Corporation</td><td></td><td></td><td></td><td>interest sales</td><td>644</td><td>5,758</td><td>7,694</td></tr><tr><td>Current</td><td>969,655</td><td>2,763,978</td><td>4,136,954</td><td>Playing cards</td><td>2</td><td>40</td><td>111</td></tr><tr><td>Back</td><td>32,691</td><td>305,292</td><td>383,835</td><td>Silver bullion sales or transfers</td><td></td><td></td><td></td></tr><tr><td>Victory tax</td><td>4,667</td><td>-</td><td>686,015</td><td>Total stamp taxes</td><td>4,993</td><td>41,702</td><td>45,155</td></tr><tr><td>Excess profits taxes (Second Revenue Act of 1940 as amended)</td><td>1,203,238</td><td>1,618,189</td><td>5,063,864</td><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td></tr><tr><td>Miscellaneous profits taxes:</td><td></td><td></td><td></td><td>Lubricating oils</td><td>2,662</td><td>46,432</td><td>43,318</td></tr><tr><td>Declared value</td><td>7,127</td><td>51,237</td><td>82,012</td><td>Gasoline</td><td>17,776</td><td>369,587</td><td>288,786</td></tr><tr><td>Vinson Act</td><td>208</td><td>982</td><td>421</td><td>Tires and tubes</td><td>1,053</td><td>56,842</td><td>18,280</td></tr><tr><td>Unjust enrichment</td><td>27</td><td>4,402</td><td>1,608</td><td>Floor taxes on tires and tubes</td><td>-</td><td>7,969</td><td>65</td></tr><tr><td>Total income and profits taxes</td><td>4,026,494</td><td>8,006,880</td><td>16,298,876</td><td>Automobile trucks and buses</td><td>87</td><td>18,361</td><td>4,230</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Other automobiles and motorcycles</td><td>74</td><td>77,172</td><td>1,424</td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td>Parts and accessories for automobiles</td><td>1,354</td><td>28,088</td><td>20,478</td></tr><tr><td>Federal Insurance Contributions Act (Old-age insurance)</td><td>2,593</td><td>895,336</td><td>1,131,546</td><td>Electrical energy</td><td>2,670</td><td>49,978</td><td>48,705</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance)</td><td>1,186</td><td>119,617</td><td>156,008</td><td>Electric, gas, and oil appliances</td><td>273</td><td>17,702</td><td>6,913</td></tr><tr><td>Total Social Security taxes</td><td>3,779</td><td>1,014,953</td><td>1,287,554</td><td>Electric light bulbs and tubes</td><td>345</td><td>3,102</td><td>3,657</td></tr><tr><td>Carriers' Taxing Act of 1937</td><td>23,968</td><td>170,409</td><td>211,151</td><td>Electric signs (repealed as of 11/1/42)</td><td>25</td><td>779</td><td>614</td></tr><tr><td>Total employment taxes</td><td>27,747</td><td>1,185,362</td><td>1,498,705</td><td>Radio sets, phonographs, components, etc.</td><td>214</td><td>19,144</td><td>5,561</td></tr><tr><td>Miscellaneous Internal Revenue:</td><td></td><td></td><td></td><td>Photograph records</td><td>87</td><td>968</td><td>1,817</td></tr><tr><td>Capital stock tax</td><td>365</td><td>281,900</td><td>323,795</td><td>Musical instruments</td><td>48</td><td>2,325</td><td>1,389</td></tr><tr><td>Estate tax</td><td>28,155</td><td>340,323</td><td>414,531</td><td>Mechanical refrigerators, air-conditioners, etc.</td><td>404</td><td>16,245</td><td>5,966</td></tr><tr><td>Gift tax</td><td>517</td><td>92,217</td><td>32,965</td><td>Matches</td><td>605</td><td>5,227</td><td>9,361</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Floor taxes on matches</td><td>-</td><td>1,703</td><td>5</td></tr><tr><td>Distilled spirit (imported, excise)</td><td>9,939</td><td>35,765</td><td>83,407</td><td>Business and store machines</td><td>216</td><td>6,972</td><td>6,161</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>46,409</td><td>578,485</td><td>998,300</td><td>Pure - retailers' excise</td><td>1,671</td><td>19,744</td><td>44,223</td></tr><tr><td>Distilled spirits rectification tax</td><td>1,365</td><td>17,225</td><td>18,836</td><td>Jewelry - retailers' excise</td><td>5,664</td><td>41,501</td><td>88,366</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>89</td><td>332</td><td>743</td><td>Luggage</td><td>549</td><td>2,834</td><td>5,682</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>2,057</td><td>23,654</td><td>32,320</td><td>Optical equipment (repealed as of 11/1/42)</td><td>1</td><td>459</td><td>293</td></tr><tr><td>Grandy used for fortifying sweet wines</td><td>-</td><td>1,250</td><td>6</td><td>Photographic apparatus</td><td>1,058</td><td>6,017</td><td>11,164</td></tr><tr><td>...lers in distilled spirits; rectifiers; manufacturers of stills (special taxes)</td><td>1,218</td><td>7,578</td><td>7,008</td><td>Rubber articles (repealed as of 11/1/42)</td><td>21</td><td>21,545</td><td>14,385</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>-</td><td>1</td><td>1</td><td>Sporting goods</td><td>2,075</td><td>16,952</td><td>12,664</td></tr><tr><td>Case stamp for distilled spirits</td><td>59</td><td>1,110</td><td>1,299</td><td>Toilet preparations - retailers' excise</td><td>-</td><td>156</td><td>37</td></tr><tr><td>bottled in bond</td><td>662</td><td>11,197</td><td>10,549</td><td>Washing machines (repealed as of 11/1/42)</td><td>25</td><td>5,073</td><td>1,149</td></tr><tr><td>Container stamps</td><td>2,881</td><td>41,911</td><td>111,539</td><td>Firearms, shells and cartridges</td><td>1</td><td>84</td><td>52</td></tr><tr><td>Floor taxes</td><td>50,000</td><td>366,159</td><td>455,635</td><td>Pistols and revolvers</td><td>7</td><td>3,640</td><td>481</td></tr><tr><td>Fermented malt liquors</td><td>492</td><td>3,498</td><td>3,238</td><td>Repealed taxes not listed above</td><td></td><td></td><td></td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td></td><td></td><td></td><td>Total manufacturers' and retailers' excise taxes</td><td>39,135</td><td>852,069</td><td>670,015</td></tr><tr><td>Total alcoholic beverage taxes</td><td>115,231</td><td>1,048,165</td><td>1,423,481</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Bituminous Coal Act of 1937</td><td>798</td><td>5,479</td><td>5,636</td></tr><tr><td>Cigars (large)</td><td>2,306</td><td>14,188</td><td>23,075</td><td>Sugar Act of 1937</td><td>4,812</td><td>68,230</td><td>53,552</td></tr><tr><td>Cigars (small)</td><td>10</td><td>104</td><td>97</td><td>Telephones, telegraph, radio and cable, leased wires, etc.</td><td>6,367</td><td>48,231</td><td>91,175</td></tr><tr><td>Cigarettes (large)</td><td>4</td><td>16</td><td>30</td><td>Local telephone service</td><td>4,870</td><td>26,791</td><td>66,987</td></tr><tr><td>Cigarettes (small)</td><td>73,133</td><td>704,934</td><td>835,231</td><td>Transportation of oil by pipe line</td><td>746</td><td>13,475</td><td>13,672</td></tr><tr><td>Suff</td><td>567</td><td>7,440</td><td>7,543</td><td>Transportation of persons, seats, borthe</td><td>8,207</td><td>21,379</td><td>87,132</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>3,617</td><td>52,139</td><td>47,849</td><td>Transportation of property (effective 12/1/42)</td><td>13,350</td><td>-</td><td>82,556</td></tr><tr><td>Cigarette papers and tubes</td><td>159</td><td>1,961</td><td>1,472</td><td>Use of motor vehicles (effective 2/1/42)</td><td>8,125</td><td>72,626</td><td>146,289</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>-</td><td>6</td><td>6</td><td>Use of boats (effective 2/1/42)</td><td>61</td><td>228</td><td>378</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>25</td><td>5</td><td>8,556</td><td>Leases of safe-deposit boxes</td><td>421</td><td>3,663</td><td>6,070</td></tr><tr><td>Total tobacco taxes</td><td>79,821</td><td>780,792</td><td>923,857</td><td>Admissions to theaters, concerts, cabarets, etc.</td><td>11,110</td><td>115,032</td><td>154,451</td></tr><tr><td></td><td></td><td></td><td></td><td>Club dues and initiation fees</td><td>568</td><td>6,792</td><td>6,520</td></tr><tr><td></td><td></td><td></td><td></td><td>Bowling alleys, pool tables, etc.</td><td>198</td><td>1,698</td><td>1,853</td></tr><tr><td></td><td></td><td></td><td></td><td>Coin operated devices</td><td>961</td><td>6,485</td><td>10,487</td></tr><tr><td></td><td></td><td></td><td></td><td>Adulterated and processed or renovated butter, mixed flour, and filled cheese</td><td>-</td><td>32</td><td>59</td></tr><tr><td></td><td></td><td></td><td></td><td>Oleomargarine, including special taxes</td><td>291</td><td>2,244</td><td>2,621</td></tr><tr><td></td><td></td><td></td><td></td><td>Narcotics, including marijuana and special taxes</td><td>207</td><td>745</td><td>788</td></tr><tr><td></td><td></td><td></td><td></td><td>Cocoon and other vegetable oil-processed</td><td>101</td><td>7,161</td><td>1,939</td></tr><tr><td></td><td></td><td></td><td></td><td>National Firearms Act</td><td>4</td><td>20</td><td>20</td></tr><tr><td></td><td></td><td></td><td></td><td>All other, including repealed taxes not listed above</td><td>105</td><td>190</td><td>158</td></tr><tr><td></td><td></td><td></td><td></td><td>Total miscellaneous taxes</td><td>60,902</td><td>400,501</td><td>732,333</td></tr><tr><td>Total miscellaneous taxes</td><td>329,179</td><td>3,837,670</td><td>4,571,132</td><td>Total miscellaneous internal revenue</td><td>329,179</td><td>3,837,670</td><td>4,571,132</td></tr><tr><td>Total internal revenue</td><td>4,383,420</td><td>13,029,912</td><td>22,368,713</td><td></td><td></td><td></td><td></td></tr></table>
Source: Reports of collections. 1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc.
2/ Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942. * Less than $500.
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>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1940</td><td>21,994.5</td><td>19,825.4</td><td>156.0</td><td>1,800.0</td><td>213.2</td></tr><tr><td>1941</td><td>22,736.1</td><td>20,504.8</td><td>156.0</td><td>1,800.0</td><td>215.3</td></tr><tr><td>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-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</td><td>22,575.7</td><td>20,470.8</td><td>156.0</td><td>1,800.0</td><td>148.9</td></tr><tr><td>April</td><td>22,472.7</td><td>20,360.4</td><td>156.0</td><td>1,800.0</td><td>156.2</td></tr><tr><td>May</td><td>22,426.4</td><td>20,318.1</td><td>156.0</td><td>1,800.0</td><td>152.3</td></tr><tr><td>June p</td><td>22,387.5</td><td>20,281.6</td><td>156.0</td><td>1,800.0</td><td>149.9</td></tr></table>
Source: Daily Treasury Statements. Preliminary. p 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the
Gold Certificate Fund - Board of Governors, Federal Reserve System, and (b) the Redemption Fund - Federal Reserve notes. Reserves 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>1943 p</td><td>22,387.5</td><td>4,297.7</td><td>16.1</td></tr><tr><td>1942-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</td><td>22,575.7</td><td>4,306.8</td><td>16.0</td></tr><tr><td>April</td><td>22,472.7</td><td>4,303.9</td><td>16.1</td></tr><tr><td>May</td><td>22,426.4</td><td>4,298.9</td><td>16.1</td></tr><tr><td>June p</td><td>22,387.5</td><td>4,297.7</td><td>16.1</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of the United States Money. p Preliminary.
Increment Resulting from the Reduction in the Weight of the Gold Dollar, June 30, 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 reserve</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>7,766,530.30</td><td>-</td><td>7,766,530.30</td></tr><tr><td>Total increment</td><td>$2,818,491,925.45</td><td>$2,674,781,252.67</td><td>$143,710,672.78</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="3">Silver held in Treasury</th><th colspan="3">Silver outside Treasury</th><th rowspan="2">Total silver at $1.29 per ounce</th></tr><tr><th colspan="2">Securing silver certificates 1/</th><th colspan="3">In General Fund</th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recoinage 2/</th><th>Bullion at cost</th><th>Silver dollar 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>89.3</td><td>35.2</td><td>305.3</td><td>1,279.7</td></tr><tr><td>1935</td><td>576.9</td><td>508.7</td><td>4.2</td><td>.2</td><td>262.7</td><td>38.4</td><td>323.5</td><td>1,970.1</td></tr><tr><td>1936</td><td>775.9</td><td>705.7</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>938.2</td><td>503.7</td><td>5.4</td><td></td><td>428.6</td><td>43.4</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>494.6</td><td>2.7</td><td></td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td></td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>1942</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>1942-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>1,511.1</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>1,515.8</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</td><td>1,516.8</td><td>465.5</td><td>35.9</td><td></td><td>606.0</td><td>81.6</td><td>596.0</td><td>4,306.8</td></tr><tr><td>April</td><td>1,517.9</td><td>463.6</td><td>36.9</td><td></td><td>600.0</td><td>83.0</td><td>604.7</td><td>4,303.9</td></tr><tr><td>May</td><td>1,518.8</td><td>458.7</td><td>41.2</td><td></td><td>593.6</td><td>84.3</td><td>612.7</td><td>4,298.9</td></tr><tr><td>June p</td><td>1,513.7</td><td>453.4</td><td>37.7</td><td>.2</td><td>592.1</td><td>85.6</td><td>622.2</td><td>4,297.7</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p 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 million 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>Ouncee</th><th>Dollars</th><th>Ouncee</th><th>Dollars</th><th>Ouncee</th><th>Dollars</th></tr><tr><td>1934</td><td>21.8</td><td>14.1</td><td>110.6</td><td>55.3</td><td>172.5</td><td>86.5</td><td>304.9</td><td>155.9</td></tr><tr><td>1935</td><td>38.0</td><td>27.3</td><td>2.0</td><td>1.0</td><td>494.4</td><td>318.2</td><td>534.3</td><td>346.5</td></tr><tr><td>1936</td><td>61.1</td><td>47.3</td><td>.4</td><td>.2</td><td>271.9</td><td>150.1</td><td>333.4</td><td>197.8</td></tr><tr><td>1937</td><td>10.6</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>51.6</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>50.7</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>18.3</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>10.5</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-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><tr><td>April</td><td>1.6</td><td>1.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.6</td><td>1.1</td></tr><tr><td>May</td><td>1.3</td><td>.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.3</td><td>.9</td></tr><tr><td>June</td><td>1.2</td><td>.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.2</td><td>.8</td></tr></table>
1/ Acquired at 64.64¢ cente per fine ounces until April 9, 1935; at 71.11¢ cente 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 coins</th><th colspan="6">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><th></th><th></th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mined silver (Proc. Dec. 21, 1933)</th><th>Newly-mined silver (Act July 6, 1939)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalised silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th></th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>-</td><td>51.1</td><td>28.5</td><td>128.7</td><td>132.6</td></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</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-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</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><tr><td>April</td><td>271.9</td><td>48.7</td><td>87.6</td><td>64.4</td><td>584.3</td><td>34.7</td><td>819.7</td><td>1,036.6</td></tr><tr><td>May</td><td>277.5</td><td>48.7</td><td>87.6</td><td>64.8</td><td>584.3</td><td>34.7</td><td>820.1</td><td>1,029.5</td></tr><tr><td>June</td><td>280.1</td><td>48.7</td><td>87.6</td><td>65.2</td><td>584.3</td><td>34.7</td><td>820.5</td><td>1,029.5</td></tr></table>
Basis: Daily Treasury Statements. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential escignorage 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="4">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>267,765</td><td>61,689</td><td>23,826</td><td>81,019</td><td>20,424</td><td>15,869</td><td>64,939</td><td>22,747</td><td>15,043</td><td>13,115</td><td>5,947</td><td>2,451</td><td>5,636</td></tr><tr><td>1939</td><td>265,262</td><td>63,872</td><td>24,538</td><td>75,871</td><td>18,802</td><td>17,497</td><td>64,683</td><td>21,224</td><td>15,417</td><td>14,015</td><td>5,943</td><td>2,670</td><td>5,414</td></tr><tr><td>1940</td><td>273,684</td><td>67,013</td><td>23,816</td><td>82,638</td><td>19,000</td><td>16,925</td><td>64,292</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1941</td><td>264,553</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-May</td><td>5/</td><td>4,948</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>3,538</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>3,172</td><td>1,623</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>March</td><td>5/</td><td>3,636</td><td>1,771</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>April</td><td>5/</td><td>3,579r</td><td>1,671</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>3,013</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 figures. Revised. 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 March 31, 1943
<table><tr><th>Assets</th><th>June 30, 1942</th><th>March 31, 1943</th></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>151,531,135.36</td></tr><tr><td>Federal Reserve Bank of New York, special accounts</td><td>177,908,989.03</td><td>42,882,284.09</td></tr><tr><td>Disbursing officers' balances and advance accounts</td><td>10,965.48</td><td>5,992.13</td></tr><tr><td>Total cash</td><td>$1,979,501,213.21</td><td>$1,994,419,411.58</td></tr><tr><td>Gold purchased from Union of Soviet Socialist Republics (agreement October 10, 1941 and January 3, 1942) 1/</td><td>14,358,449.00</td><td>-</td></tr><tr><td>Special accounts of Secretary of the Treasury in Federal Reserve Bank of New York: Special account No. 1, gold (Schedule 1)</td><td>7,936,045.47</td><td>14,182,611.12</td></tr><tr><td>Due from foreign banks (foreign exchange):</td><td></td><td></td></tr><tr><td>Swiss francs</td><td>$ 232,629.79</td><td>$ 836,263.01</td></tr><tr><td>French francs</td><td>17.58</td><td>17.55</td></tr><tr><td>Belgas</td><td>505.06</td><td>505.06</td></tr><tr><td>Sterling</td><td>2,980.05</td><td>2,980.05</td></tr><tr><td>Central Bank of China</td><td>19,121,925.34 2/</td><td>10,036,986.30 3/</td></tr><tr><td>Foreign depositories</td><td>-</td><td>266,640.19</td></tr><tr><td>Total due from foreign banks</td><td>19,358,058.12</td><td>11,143,392.49</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 (Schedules 2)</td><td>9,730.73</td><td>69,141.70</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>$2,030,266,097.59</td></tr><tr><th>Liabilities and Capital</th><th></th><th></th></tr><tr><td>Accounts payable:</td><td></td><td></td></tr><tr><td>Victory tax withheld from salaries of employees, Treasury Department</td><td>-</td><td>$ 2,050.76</td></tr><tr><td>Employees' pay-roll allotment account, United States savings bonds</td><td>$ 376.59</td><td>521.29</td></tr><tr><td>Vouchers payable</td><td>218.91</td><td>115.16</td></tr><tr><td>Due to foreign banks</td><td>-</td><td>113,404.88</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>3,255.54</td></tr><tr><td>Total accounts payable</td><td>$ 2,473,512.54</td><td>$ 119,677.63</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>30,146,419.96</td></tr><tr><td>Total liabilities and capital</td><td>$2,031,615,840.43</td><td>$2,030,266,097.59</td></tr><tr><td colspan="3">Back Figures: Annual balance sheets for the years 1934 through 1940 may be found in the "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".</td></tr><tr><td colspan="3">1/ Consisted of 941,053,554 ounces on June 30, 1942.</td></tr><tr><td colspan="3">2/ Consisted of secured deposits amounting to 65,032,054.79 yuan as of June 30, 1942. Gold held as collateral amounted to $19,379,015.65.</td></tr><tr><td colspan="3">3/ Consisted of 200,739,726.03 yuan as of March 31, 1943.</td></tr></table><table><tr><th colspan="5">Schedules for Balance Sheet of the Exchange Stabilization Fund</th></tr><tr><th colspan="5">Schedule 1</th></tr><tr><th colspan="5">Location of gold held by and for account of the Exchange Stabilization Fund 1/</th></tr><tr><th>Location</th><th colspan="2">June 30, 1942</th><th colspan="2">March 31, 1943</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>Federal Reserve Bank of New York</td><td>3,939,543</td><td>$ 137,884.01</td><td>91,803,752</td><td>$ 3,213,131.34</td></tr><tr><td>U. S. Assay Office, New York</td><td>222,804,612</td><td>7,798,161.46</td><td>313,413,706</td><td>10,969,479.78</td></tr><tr><td>Total</td><td>226,744,155</td><td>$7,936,045.47</td><td>405,217,458</td><td>$14,182,611.12</td></tr></table>
1/ Excludes gold held by Treasurer of the United States and gold purchased from Union of Soviet Socialist Republics.
81
Schedules for Balance Sheet of the Exchange Stabilization Fund - (Continued) Schedule 2
United States Government securities held by the Exchange Stabilisation Fund
<table><tr><th rowspan="2">Issue</th><th colspan="4">June 30, 1942</th><th colspan="4">March 31, 1943</th></tr><tr><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>$65,521.98</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>400.41</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>3,219.31</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>$69,141.70</td></tr></table>
Schedule 3
Earnings of the Exchange Stabilisation Fund
<table><tr><th>Source</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through March 31, 1943</th></tr><tr><td>Profit on British sterling transactions.</td><td>$ 310,638.09</td><td>$ 310,638.09</td></tr><tr><td>Profit on French franc transactions.</td><td>351,537.99</td><td>351,537.99</td></tr><tr><td>Profit on gold bullion (including profits from handling charges on gold).</td><td>19,948,590.50</td><td>20,860,424.77</td></tr><tr><td>Profit 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 (nationalised).</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>Profit 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>3,889,135.11</td></tr><tr><td>Miscellaneous profit.</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>1,841,337.32</td><td>1,966,686.93</td></tr><tr><td>Total earnings.</td><td>$30,885,535.11</td><td>$32,100,858.78</td></tr></table>
Schedule 4
Administrative expenses of the Exchange Stabilisation Fund
<table><tr><th>Classification</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through March 31, 1943</th></tr><tr><td>Salaries</td><td>$1,151,157.10</td><td>$1,328,950.25</td></tr><tr><td>Travel</td><td>61,553.90</td><td>66,655.89</td></tr><tr><td>Subsistence</td><td>45,910.27</td><td>53,575.96</td></tr><tr><td>Telephone and telegraph</td><td>335,665.52</td><td>351,682.58</td></tr><tr><td>Stationery, etc.</td><td>17,765.20</td><td>18,520.57</td></tr><tr><td>All other</td><td>132,455.23</td><td>135,053.57</td></tr><tr><td>Total administrative expenses</td><td>$1,743,507.22</td><td>$1,954,438.82</td></tr></table>
82
Net Capital Movement to the United States, 1935 through April 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-Deo. 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-Deo. 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-Deo. 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 (Deo. 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-Deo. 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-Deo. 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-Deo. 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-Apr. 30, 1943)</td><td>377,283</td><td>391,286</td><td>5,114</td><td>19,520</td><td>-38,637</td></tr><tr><td>Total (Jan. 2, 1935-Apr. 30, 1943)</td><td>6,212,275</td><td>4,600,381</td><td>109,497</td><td>692,850</td><td>809,547</td></tr><tr><td>Months:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1942-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>5,574</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>72,750</td><td>151,809</td><td>2,658</td><td>5,205</td><td>-86,922</td></tr><tr><td>February</td><td>107,175</td><td>119,683</td><td>-600</td><td>-2,503</td><td>-9,405</td></tr><tr><td>March</td><td>132,152</td><td>61,505</td><td>2,134</td><td>9,881</td><td>58,632</td></tr><tr><td>April</td><td>65,206</td><td>58,289</td><td>922</td><td>6,937</td><td>-942</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.
FOR VICTORY
BUY
UNITED
STATES
WAR
BONDS
AND
STAMPS
Treas. HJ 10 A2 1943 c.2
U.S. Treasury Dept. Treasury Bulletin