Treas. HJ 10 A2 c.2
LIBRARY
LIBRARY ROOM 5030
JUN 2.1 1972
TREASURY DEPARTMENT
PI-1
Treas. HJ 10, R 2 C 2
Treasury
BULLETIN
OF THE
U.S.
TREASURY DEPARTMENT
OCTOBER
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, October 1943
Cumulative Table of Contents
<table><tr><th></th><th colspan="12">Issue and page number</th></tr><tr><th></th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th></tr><tr><th colspan="13">I. Special articles</th></tr><tr><td>Third War Loan, September 1943: Sales of securities, classified by issues, by types of investor, and by States. Comparison of features of securities offered. Redemption values and investment yields of United States savings bonds and Treasury savings notes.</td><td>1-7</td><td></td><td>2-3</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury market financing, October 1943. Financial operations of the United States Government during the fiscal year 1943.</td><td>8</td><td></td><td>4</td><td></td><td>2-5</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 issues, by types of investor, and by Federal Reserve districts. Comparison of features of securities offered.</td><td></td><td></td><td></td><td></td><td>2</td><td></td><td>2-6</td><td>2-3</td><td></td><td></td><td></td><td></td></tr><tr><td>War activities budgetary expenditures, monthly July 1940 through April 1943.</td><td></td><td></td><td></td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bank deposits: Hopes 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></td><td></td><td></td><td></td><td>4-5</td><td>2-3</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>7</td><td></td><td></td><td></td><td>6</td><td></td><td></td><td></td><td>2</td><td></td><td></td><td></td></tr><tr><td>Dividends received by corporations, individuals, and fiduciaries, 1936. Estate tax rates and tax liability in the United States, United Kingdom, and Canada. Individual income tax rates and tax liability in the United States, United Kingdom, and Canada. 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></td><td></td><td>7-8</td><td></td><td>74-75</td><td></td><td>75</td></tr><tr><th colspan="13">II. Summary of fiscal statistics</th></tr><tr><td>Budgetary receipts and expenditures.</td><td>10</td><td>2</td><td>6</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></tr><tr><td>Public debt and guaranteed obligations outstanding.</td><td>11</td><td>3</td><td>7</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></tr><tr><td>Means of financing cash requirements.</td><td>11</td><td>3</td><td>7</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></tr><tr><th colspan="13">III. Receipts and expenditures and appropriations</th></tr><tr><td>Appropriations and net contract authorizations for the war activities program as of month-end preceding month of publication.</td><td>13-14</td><td>5-6</td><td>9-10</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></tr><tr><td>Budgetary receipts and expenditures: Summary by major classifications. Analysis of receipts from internal revenue. Analysis of general expenditures. Analysis of expenditures for war activities. Analysis of expenditures for war activities, monthly July 1940 through April 1943. Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc. Total budgetary receipts and expenditures, by months, for recent years.</td><td>15 15 15 17 17</td><td>7 7 8 9 9</td><td>11 11 12 12 13</td><td>13 13 14 14 15</td><td>9 9 10 10 16</td><td>14 14 15 15 16</td><td>12 12 13 13 14</td><td>10 10 11 11 12</td><td>7 7 8 8 9</td><td>15 15 16 16 17</td><td>7 7 8 8 9</td><td>7 7 8 8 9</td></tr><tr><td>Trust account, etc., receipts and expenditures.</td><td>18-19</td><td>10-11</td><td>13-14</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></tr><tr><td>Means of financing cash requirements beginning 1933.</td><td>20</td><td>12</td><td>15</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></tr><tr><td>Social Security program: Budgetary receipts and expenditures: Social Security Act. Railroad Retirement Act. Railroad Unemployment Insurance Act.</td><td>21</td><td>13</td><td>16</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></tr><tr><td>Statement of trust accounts: Federal Old-Age and Survivors Insurance Trust Fund. Railroad Retirement Account. Unemployment Trust Fund.</td><td>22 23 23</td><td>14 15 15</td><td>17 18 18</td><td>19 20 20</td><td>15 16 16</td><td>20 21 21</td><td>18 19 19</td><td>16 17 17</td><td>13 14 14</td><td>21 22 22</td><td>13 14 14</td><td>11</td></tr><tr><td>Cash income and outgo of the Treasury: Analysis by major classifications. Total cash income and outgo by months beginning with: January 1936. January 1938.</td><td>24 25 25-26</td><td>16 17 17-18</td><td>19 20 20-21</td><td>21 22 22-23</td><td>18 19 18-19</td><td>23 24 23-24</td><td>21 22 21-22</td><td>19 20 19-20</td><td>16 17 15-17</td><td>24 24-25</td><td>16-17 15-17</td><td>16</td></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, October 1943
Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th></tr><tr><td colspan="14">IV. General Fund of the Treasury</td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>28</td><td>20</td><td>23</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></tr><tr><td>Analysis of changes in balance of General Fund.</td><td>29</td><td>21</td><td>24</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></tr><tr><td colspan="14">V. Public debt and guaranteed obligations of United States Government</td></tr><tr><td>Public debt and guaranteed obligations: Summary.</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>Detalled statement.</td><td>32</td><td>23</td><td>26</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></tr><tr><td>Chart.</td><td>33</td><td>25</td><td>28</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></tr><tr><td>Public debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Issuance and retirement (receipts and expenditures).</td><td>31</td><td>24</td><td>27</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></tr><tr><td>Interest-bearing debt composition of.</td><td>34</td><td>24</td><td>27</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></tr><tr><td>Guaranteed obligations held by Treasury.</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debt position of the United States under limitations imposed by Section 21 of the Second Liberty Bond Act, as amended:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>33</td><td></td></tr><tr><td>December 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>30</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1943.</td><td></td><td></td><td></td><td>31</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1943.</td><td>35</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Computed interest charge and computed interest rate.</td><td>36</td><td>26</td><td>29</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></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>37-39</td><td>27-28</td><td>30-31</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></tr><tr><td>Offerings of marketable securities: 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>40</td><td>29</td><td>32</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></tr><tr><td>January 1, 1940.</td><td>41</td><td>30</td><td>33</td><td>36</td><td>31</td><td>36</td><td>35</td><td>32</td><td>29</td><td>38</td><td>29</td><td>29</td></tr><tr><td>Treasury bills.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States savings bonds:</td><td>42-43</td><td>31-32</td><td>34-35</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></tr><tr><td>Summary of sales and redemptions, by series.</td><td>44</td><td>33</td><td>36</td><td>39</td><td>34</td><td>39</td><td>38</td><td>35</td><td>32</td><td>42</td><td>32</td><td>32</td></tr><tr><td>Sales reported by series, classified by denomination.</td><td>45-46</td><td>34-35</td><td>37-38</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></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>Payroll savings plans for United States savings bonds.</td><td>47</td><td>36</td><td>39</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></tr><tr><td>Treasury notes - tax and savings series:</td><td>48-49</td><td>37-38</td><td>40-41</td><td>45,48</td><td>40,43</td><td>45,48</td><td>44,47</td><td>41,44</td><td>38,41</td><td>47,50</td><td>38,41</td><td>38,41</td></tr><tr><td>Summary of sales and redemptions, by series.</td><td>50</td><td>39</td><td>42</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></tr><tr><td>Sales, classified by denomination.</td><td>50</td><td>39</td><td>42</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></tr><tr><td>Sales, classified by type of purchaser.</td><td></td><td></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>51</td><td>40</td><td>43</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></tr><tr><td>Summary of sales and redemptions.</td><td>51</td><td>40</td><td>43</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></tr><tr><td>Sales, classified by denomination.</td><td>52</td><td>41</td><td>44</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></tr><tr><td>Sales, 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 colspan="14">VI. Ownership of Government securities</td></tr><tr><td>Summary distribution, by holders, of securities issued or guaranteed by the United States.</td><td>54</td><td>43</td><td>46</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></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937.</td><td>54</td><td>43</td><td>46</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></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>44-49</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>44-49</td><td></td></tr><tr><td>October 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>44-49</td><td>53-58</td><td></td><td></td></tr><tr><td>November 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>December 31, 1942.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>47-52</td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>50-55</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>February 28, 1943.</td><td></td><td></td><td></td><td>46-51</td><td>51-56</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>March 31, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>April 30, 1943.</td><td></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></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>June 30, 1943.</td><td></td><td>47-52</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 31, 1943.</td><td>55-60</td><td>44-49</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>August 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></table>
(Continued on following page)
Bulletin of the Treasury Department, October 1943
Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="12">Issue and page number</th></tr><tr><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</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: The 15th of the month of publication.</td><td>62-64</td><td>51-53</td><td>54-56</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>51-53</td></tr><tr><td>The month-end preceding month of publication</td><td>65</td><td>54</td><td>57</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></tr><tr><td>Chart showing yield structure of Treasury bonds and notes.</td><td colspan="12"></td></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds. Discussion of composition of high-grade corporate bond average. Yields beginning with: January 1934.</td><td colspan="8">61</td><td colspan="4">64-65</td><td>55-56</td></tr><tr><td>January 1935.</td><td>66-67</td><td>55-56</td><td>58-59</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 colspan="3"></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 interest: September 30, 1942.</td><td colspan="12"></td><td>58-59</td></tr><tr><td>October 31, 1942.</td><td colspan="12"></td><td>58-59</td></tr><tr><td>November 30, 1942.</td><td colspan="11">67-68</td><td></td></tr><tr><td>December 31, 1942.</td><td colspan="10">58-59</td><td colspan="2"></td></tr><tr><td>January 31, 1943.</td><td colspan="8">61-62</td><td colspan="4"></td></tr><tr><td>February 28, 1943.</td><td colspan="7">65-66</td><td colspan="5">61-62</td></tr><tr><td>March 31, 1943.</td><td colspan="7">65-66</td><td colspan="6">65-66</td></tr><tr><td>April 30, 1943.</td><td colspan="6">65-66</td><td colspan="7">60-61</td></tr><tr><td>May 31, 1943.</td><td colspan="5">61-62</td><td colspan="8">65-66</td></tr><tr><td>June 30, 1943.</td><td colspan="4">58-59</td><td colspan="9">69-70</td></tr><tr><td>July 31, 1943.</td><td colspan="3">69-70</td><td colspan="10">69-70</td></tr><tr><td>August 31, 1943.</td><td colspan="2">69-70</td><td colspan="11">69-70</td></tr><tr><td>Sources and uses of funds: Fiscal year to date.</td><td>71-72</td><td>60-61</td><td>63-64</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></tr><tr><td>From inception of organization.</td><td>73-74</td><td>62-63</td><td>65-66</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></tr><tr><td colspan="13">IX. Internal revenue statistics</td></tr><tr><td>Collections of internal revenue: Summary data.</td><td>76-77</td><td>65-66</td><td>68-69</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></tr><tr><td>Comparative details for current periods.</td><td>78</td><td>67</td><td>70</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></tr><tr><td colspan="13">X. Gold and silver statistics</td></tr><tr><td>Gold assets and liabilities of the Treasury.</td><td>80</td><td>69</td><td>72</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></tr><tr><td>Increment from reduction in weight of gold dollar, cumulative to: September 30, 1942.</td><td colspan="12"></td><td>69</td></tr><tr><td>December 31, 1942.</td><td colspan="11">78</td><td></td></tr><tr><td>March 31, 1943.</td><td colspan="10">76</td><td colspan="2"></td></tr><tr><td>June 30, 1943.</td><td>80</td><td colspan="10">76</td><td></td></tr><tr><td>September 30, 1943.</td><td colspan="11">76</td><td>69</td></tr><tr><td>Treasury gold receipts, for recent quarterly periods.</td><td>80</td><td>69</td><td>72</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></tr><tr><td>Monetary stocks of gold and silver.</td><td>80</td><td>69</td><td>72</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></tr><tr><td>Components of silver monetary stock.</td><td>81</td><td>70</td><td>73</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></tr><tr><td>Silver of specified classifications acquired by mints and assay offices.</td><td>81</td><td>70</td><td>73</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></tr><tr><td>Seigniorage on silver, by types.</td><td>82</td><td>71</td><td>74</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></tr><tr><td>Silver production: In United States.</td><td>81</td><td>70</td><td>74</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></tr><tr><td>In foreign countries.</td><td colspan="12">78</td></tr><tr><td colspan="13">XI. Other Treasury statistics</td></tr><tr><td>Balancesheet of the Exchange Stabilization Fund: September 30, 1942.</td><td colspan="12"></td><td>82-83</td></tr><tr><td>December 31, 1942.</td><td colspan="10">80-81</td><td colspan="2">80-81</td></tr><tr><td>March 31, 1943.</td><td colspan="10">80-81</td><td colspan="2"></td></tr><tr><td>June 30, 1943.</td><td>84-85</td><td colspan="11"></td></tr><tr><td>Capital movement between the United States and foreign countries.</td><td>86</td><td>73</td><td>76</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></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
Sales of United States Government Securities During the Third War Loan
Summary
The Third War Loan marked the first time in this war that the United States Government has conducted a large-scale drive for the sale of securities exclusively to nonbanking investors. In both the First and Second War Loans commercial banks were included for predetermined amounts of securities. Notwithstanding this difference, however, total sales in the Third War Loan exceeded the sales in each of the two preceding loans.
Aggregate sales in the Third War Loan amounted to $18.9 billions, of which sales of $18.3 billions were to investors included in the Third War Loan goal of $15 billions. This goal was divided between $10 billions for all corporations, associations, and State and local governments, and $5 billions for individuals, partnerships, and personal trust accounts.
The $5 billions goal for individuals, partnerships, and personal trust accounts was exceeded by $0.4 billions, while the $10 billions goal for corporations, associations, and State and local governments was exceeded by $2.9 billions. In addition, United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department purchased $0.6 billions of securities during the Third War Loan although such sales were not included in the goals set for the drive.
Sales of securities to the various investor groups compare with the goals which had been set for these groups as follows:
<table><tr><th>Class of investor</th><th>Goals</th><th>Sales</th></tr><tr><td colspan="2">(In billions of dollars)</td><td></td></tr><tr><td>Individuals, partnerships, and personal trust accounts</td><td>5.0</td><td>5.4</td></tr><tr><td>Corporations, associations, and State and local governments:</td><td></td><td></td></tr><tr><td>Insurance companies and mutual savings banks</td><td>3.0</td><td>4.1</td></tr><tr><td>Dealers and brokers</td><td>.6</td><td>.9</td></tr><tr><td>Other corporations and associations, including State and local governments 1/</td><td>6.4</td><td>7.9</td></tr><tr><td>Totals for investor classes included in Third War Loan goals</td><td>15.0</td><td>18.3</td></tr><tr><td>United States Government agencies and trust funds 2/</td><td></td><td>.6</td></tr><tr><td>Total sales to all investors during Third War Loan</td><td></td><td>18.9</td></tr></table>
1/ Includes eleemosynary institutions and United States Government agencies and trust funds whose investments are not handled through the facilities of the Treasury Department. Sales to such agencies and trust funds during the Third War Loan totaled $82 millions.
2/ Consists of United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department.
Although the total goal for individuals, partner ships, and personal trust accounts was surpassed by $0.4 billion, sales of Series E savings bonds failed by about 18 percent to reach the goal of $3 billions set for this issue. Sales of this security during the
Third War Loan, nevertheless, were about $1 billion, or 68 percent, higher than sales of this security during the Second War Loan. Moreover, almost 53 million units of the Series E savings bonds were sold during the Third War Loan, as compared with 33 millions in the Second War Loan, and 19 millions in the First War Loan -- a result which was achieved despite the increased emphasis during the Third War Loan on sales of savings bonds in denominations of $100 or more.
Preparation for the War Loan
The total goal of $15 billions was decided upon after careful analysis of the flow of funds in the economy, with particular reference to new savings and accumulations of individuals and corporations. These savings and accumulations are being made at unprecedented rates as the war continues. Liquid savings of individuals are expected to amount to $37 billions this calendar year, or about 9 or 10 times the annual rate in the pre-war period. It is estimated that liquid corporate accumulations will total about $17 billions during 1943, a sum which includes unspent reserves for depreciation and depletion as well as funds made available by the liquidation of inventories and the retention of earnings. These accumulations cannot be spent for plant, equipment, or new inventory because of wartime controls. Accumulations in governmental accounts, such as social security funds and current surpluses of State and local governments, are expected to aggregate over $5 billions in 1943. All of these savings and accumulations will thus total about $60 billions this year -- approximately the same amount as the estimated Federal deficit.
This similarity in magnitude between the Federal deficit and the new accumulations of individuals, corporations, and governmental accounts is the result of a functional relationship which reflects the distribution of production and incomes between the Federal Government and private persons and businesses (including State and local governments). The production of goods and services generates income to the full value of production, some of which is purchased by the Federal Government (mostly for war purposes), while the remainder is purchased for private use. Similarly, some of the income generated by production goes to the Government in the form of taxes, while the rest remains in private hands. At the present time the Federal Government is taking about one-half of current output, although taxes are bringing in only about one-sixth of the total income generated. The difference, or about a third of the value of total output (or income), is equivalent to the Federal deficit. While private businesses and individuals thus get only the half of current output which is not taken by the Government, they retain about five-sixths of the total income. The difference, which is again about a third of total output (or income), represents the surpluses which are being accumulated in the private sector of the economy and is, of course, the counterpart of the Federal deficit.
After determining the over-all goals with reference to the flow of funds in the economy, individual State goals were set up. The goals by States should be recognized as no more than rough approximations which are necessarily based on less satisfactory data than are the over-all figures for expected sales.
2
the absence of an estimate of savings and accumulations by States. In-state quotas were based primarily on estimate of income payment to individuals, classified by States, and on figures available for each State on bank deposits of individuals and corporations combined.
Goals for the Third War Loan were announced on July 22, 1941. The sales organization in the field was in the process of being reorganized at that time on a State basis from the Federal Reserve district basis which was followed in the Second War Loan. The announced intention of the Treasury was to conduct this drive with emphasis on person-to-person sales appeals. A War Finance Division with a national director of sales had been organized in the Treasury Department; State War Finance Committees were being set up; and local war Finance Committees were being organized along city and county lines. Large numbers of volunteers reporting to the local committees represented the final contact between the central sales organization and individual purchasers.
The seven securities which were offered in the Third War Loan were very similar to those offered in the Second War Loan. The Third War Loan securities consisted of four nonmarketable issues and three marketable issues, as follows:
Nonmarketable issues: Savings bonds: Series E, F, and G Savings notes (formerly called tax notes): Series C
Marketable issues: 7/8% Certificates of indebtedness, 9/1/44 2% Treasury bonds, 9/15/51-53 2-1/2% Treasury bonds, 12/15/64-69
For comparison of the characteristics of these issues see the "Treasury Bulletin" for August 1943, pages 2-4.
The Third War Loan formally opened on September 9, although sales of the four nonmarketable securities were included in the drive beginning with September 1 because some of the State organizations began their campaigns on these issues during the period from September 1 to September 9. The three marketable issues, however, were not available until September 9.
The drive closed on October 2, but final reports of sales were not available for an additional two weeks. In view of the fact that there were some 60,000 issuing agents participating in the drive, and that reports of sales of the nonmarketable issues encountered delays of as much as three weeks in officially reaching the Federal Reserve Banks, it was decided that for reporting purposes the books would be kept open on the three issues of savings bonds until October 16. Even at that date, however, it was known that some sales reports had not yet reached the Federal Reserve Banks. No estimate is available of the amount of such sales still being processed.
Analysis of sales
Tables 1 to 5 present detailed information on sales of securities during the Third War Loan by classes of investors, by issues, and by States. The sales reports have not been fully audited; hence the data are still preliminary. The figures shown are taken from tabulations of sales cleared through the Federal Reserve Banks.
All figures shown in this article and in the accompanying tables reflect gross purchases rather than net absorption of Federal securities by the seven investor groups. This means that no allowance is made in the figures for any offsetting market sales of
Federal securities which may have been made by any of these investors. Data relating to these offsetting sales will not be available until the month-end figures included in the Treasury survey of the ownership of Government securities become available for September and October. These figures will be published in the November and December issues of the "Treasury Bulletin". At present, it is known that offsetting sales did occur and that, on balance, most of the securities sold were absorbed by banking sources.
Offsets also occurred in the case of nonmarketable securities to the extent that these issues were redeemed during the period of the Third War Loan. Redemptions of savings bonds during September were about the same as in August. Similarly, redemptions of tax and savings notes were about the same as in preceding months during which quarterly income tax instalments were due. Most of the redemptions of tax and savings notes were made by corporations rather than by individuals.
Table 1 shows sales of securities during the Third War Loan by classes of investors and by issues. The figures for all investors show that sales of the 2 percent bonds amounted to $5.3 billions, a larger amount than was sold of any other issue. Sales of the 7/8 percent certificates followed at $4.1 billions, while the 2-1/2 percent bonds totaled $3.8 billions, and purchases of Series C savings notes amounted to $2.5 billions.
Individuals, partnerships, and personal trust accounts purchased a total of $5.4 billions of securities in the Third War Loan, $3.0 billions of which -- more than half -- were savings bonds. Four-fifths of the savings bonds total, or about $2.5 billions, was accounted for by Series E savings bonds. Purchases of savings notes by individuals, partnerships, and personal trust accounts amounted to only $0.2 billions. Purchases of marketable issues by this group of investors aggregated $2.1 billions, of which 57 percent was in the 2 percent bonds, 26 percent was in 2-1/2 percent bonds, and 17 percent was in certificates of indebtedness.
Insurance companies and mutual savings banks concentrated their purchases in the 2 and 2-1/2 percent bonds. Because life insurance companies receive substantial funds at a steady and predictable rate, arrangements were made for them to subscribe during the Third War Loan to the 2 and 2-1/2 percent bonds in anticipation of funds which would become available to them for investment up to November 1. Subscriptions made under the deferred purchase plan aggregated $191 millions, and have been treated as sales in this article and in the accompanying tables. Insurance companies bought substantially more of the 2-1/2 percent bonds than of the 2 percent bonds, while mutual savings banks preferred the 2 percent bonds.
The purchases by other corporations and associations (namely, all corporations and associations other than insurance companies, mutual savings banks, dealers and brokers, and State and local governments) were concentrated heavily in certificates of indebtedness and in savings notes. More than two-thirds of the sales of 7/8 percent certificates and over 90 percent of the sales of Seriea C savings notes went to this group of buyers, a preference which reflects the fact that short-term issues of this type are ideally suited to the investment of reserve and other funds which are accumulating at a rapid rate during the war period. The savings notes mature in three years, but may be redeemed on demand after six months; the cer-
3
tificates mature in one year and may be refunded into another issue at maturity, sometimes directly by exchange and at other times by cash re-investment. These two issues alone accounted for $5.1 billions of the total purchases of $7.1 billions by "other corporations and associations" as shown in the table. The certificates accounted for a slightly larger proportion of purchases than did the savings notes.
The lower half of Table l presents a percentage distribution of the sales of each issue by classes of investors.
Sales by States
In Table 2, actual sales are compared with the goals for each State by classes of investors. For purposes of this discussion the District of Columbia, Alaska, Hawaii, and the possessions are considered to be States; figures for Northern and Southern California have been combined.
For the nation as a whole, actual sales to all investors combined reached 122 percent of the goal, while the goal for individuals was exceeded by 8 percent. For corporations and associations, the national achievement was 129 percent of the goal.
The table shows that all but one of the States reached or exceeded their total goals for all investors. Twenty-four of this group surpassed their total goals by at least 25 percent, and six--West Virginia, Maryland, Ohio, Georgia, Alaska, and the possessions--exceeded their total goals by more than 50 percent.
Almost two-thirds of the States succeeded in making their quotas for sales to individuals (including partnerships and personal trust accounts). Of this group, fifteen States exceeded their goals for individuals by at least 25 percent; three -- Georgia, West Virginia, and the possessions -- made 150 percent or more of their goals for individuals.
Only two States failed to reach their quota for sales to corporations, associations, and State and local governments. Thirty States surpassed their sales goals for this group by at least 25 percent, and fourteen by 50 percent or more.
Comparison of State quotas and sales of Series E savings bonds -- also shown in Table 2-- brings out the fact that the people living between the Mississippi River and the Rocky Mountains made the most outstanding showing in purchases of this issue. Montana, Wyoming, Colorado, North Dakota, South Dakota, Nebraska, Minnesota, Iowa, and Oklahoma exceeded 100 percent of their E bond quotas. Of the States east of the Mississippi River only Mississippi reached its E bond goal. Sales of E bonds in Alaska, Hawaii, and the possessions also amounted to more than the quotas set for these areas.
Table 3 supplies further details on purchases by States. Sales to individuals, partnerships, and personal trust accounts in each State are broken down into sales of Series E savings bonds, sales of Series F and G savings bonds, and sales of savings notes and marketable securities. Sales to corporations, associations, and local and local governments are classified to show State purchases by insurance companies, mutual savings banks, State and local governments, dealers and brokers, and other corporations and associations. Table 3 brings out the variations in the proportions of sales to individuals (including partnerships and personal trust accounts) represented by the different issues. In all but thirteen States -- Alabama, Delaware, Florida, Georgia, Kentucky, Maryland, New York, Ohio, Oregon, Pennsylvania, Tennessee, Texas,
and West Virginia -- sales of Series E savings bonds to individuals were greater than sales of savings notes and marketable securities to this group.
Insurance company purchases are seen in the table to have been heavily concentrated in New York, New Jersey, Connecticut, Massachusetts, and Pennsylvania. These five States accounted for over 80% of all insurance company purchases, while the five States of New York, Massachusetts, Connecticut, Pennsylvania, and Maryland accounted for almost 90% of all purchases by mutual savings banks. These results, of course, reflect in large part the concentration of these institutions in the areas mentioned, although in the case of the insurance companies, the funds represent money originally accumulated over a much wider area.
More than two-thirds of the sales to dealers and brokers were in New York, with half of the remainder accounted for by Ohio and California.
Sales to other corporations and associations are less dependent on the location of the leading financial centers, although they are, in turn, heavily influenced by the distribution of the funds of the largest corporate investors. Five States -- New York, Illinois, Ohio, Pennsylvania, and California -- sold the most to this group of investors, accounting for between 55 and 60 percent of total sales to other corporations and associations.
Comparison with previous War Loans
In Table 4, a detailed comparison is made of sales of securities during the First, Second, and Third War Loans, classified both by type of investor and by issue. Total sales of $18.9 billions to nonbanking investors in the Third War Loan compare with nonbanking sales of $13.5 billions during the Second War Loan, and $7.9 billions during the First War Loan. The intensive effort which was made during the Third War Loan to reach the many thousands of small individual investors in each State is reflected in the increase of more than 65 percent in the sales of Series E savings bonds from the Second to the Third War Loans, as well as in the increase of slightly over 60 percent in sales of all securities to individuals, partnerships, and personal trust accounts. This achievement compares with an increase of approximately 30 percent in sales to corporations, associations, and State and local governments from the Second to the Third War Loans and an increase of a little more than 40 percent in total sales to nonbanking investors.
Mutual savings banks purchased $1.5 billions during the Third War Loan, as against $1.2 billions during the Second War Loan, while insurance companies increased their purchases from $2.4 billions to $2.6 billions. Investors classified in the tables as "Other corporations and associations" increased their purchases by $2 billions -- from $5.1 billions in the Second War Loan to $7.1 billions in the Third War Loan. Larg as this increase is in dollar terms, however, it may be noted that it is considerably less of a percentage advance than that scored by Series E savings bond sales.
In Table 5, sales of Series E savings bonds during each of the three War Loans are shown by denominations. The figures indicate that the campaign to increase the amount of each purchase, as well as the number of purchasers, has had some success, since the proportion of E bond sales represented by the $25 denomination has declined in each of the last two drives, while the percentage represented by the $100 bonds in the Third War Loan is somewhat above the cor-
4
responding percentages in each of the first two drives. Altogether, the three War Loans have within less than a year sold a total of over $40 billions of securities to nonbanking investors -- an unprecedented achievement in war finance. More than a fourth of this total, or $10.3 billions, has been obtained from individuals, partnerships, and personal trust accounts. Almost half of this latter sum, or approximately $4.7 billions, has been received from sales of Series E
savings bonds -- a figure which is in addition to the $5.6 billions of this issue sold outside the drives during the twelve-month period ending with the Third War Loan. It is evident that these results could not have been achieved without the most intensive effort on a nation-wide person-to-person basis, matched by an equally strong determination in all regions and among all groups of citizens to share in the financing of this war.
Table 1. - Sales of Securities During the Third War Loan, by Classes of Investors and by issues
<table><tr><th>Class of investor</th><th>Total</th><th colspan="2">Savings bonds</th><th>Savings notes, Series C</th><th>7/8% Certificates of indebtedness, 9/1/44</th><th>2% Treasury bonds, 1951-53</th><th>2-1/2% Treasury bonds, 1954-69</th></tr><tr><th></th><th>Amounts in millions of dollars 1/</th><th>Series E</th><th>Series F and O</th><th></th><th></th><th></th><th></th></tr><tr><td>Individuals, partnerships, and personal trust accounts.</td><td>5,377</td><td>2,472</td><td>565</td><td>193</td><td>366</td><td>1,220</td><td>561</td></tr><tr><td>Corporations, associations, and State and local governments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Insurance companies.</td><td>2,620</td><td>4</td><td>1</td><td>1</td><td>136</td><td>894</td><td>1,585</td></tr><tr><td>Mutual savings banks.</td><td>1,508</td><td>1</td><td>1</td><td>1</td><td>119</td><td>1,032</td><td>354</td></tr><tr><td>State and local governments 2/.</td><td>795</td><td>30</td><td>26</td><td>26</td><td>376</td><td>123</td><td>235</td></tr><tr><td>Dealers and brokers.</td><td>894</td><td>231</td><td>2,262</td><td>2,262</td><td>322</td><td>480</td><td>92</td></tr><tr><td>Other corporations and associations 3/.</td><td>7,120</td><td></td><td>231</td><td>2,262</td><td>2,801</td><td>1,360</td><td>471</td></tr><tr><td>Total sales to investor classes included in Third War Loan goals.</td><td>18,313</td><td>2,472</td><td>831</td><td>2,483</td><td>4,120</td><td>5,109</td><td>3,298</td></tr><tr><td>United States Government agencies and trust funds 4/.</td><td>630</td><td></td><td></td><td></td><td></td><td>151</td><td>479</td></tr><tr><td>Total sales to all investors during Third War Loan.</td><td>18,943</td><td>2,472</td><td>831</td><td>2,483</td><td>4,120</td><td>5,260</td><td>3,777</td></tr><tr><th colspan="8">Percentage distribution</th></tr><tr><td>Individuals, partnerships, and personal trust accounts.</td><td>28.4</td><td>100.0</td><td>65.0</td><td>7.5</td><td>8.9</td><td>23.2</td><td>14.9</td></tr><tr><td>Corporations, associations, and State and local governments:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Insurance companies.</td><td>13.8</td><td>.5</td><td>1</td><td>1</td><td>3.3</td><td>17.0</td><td>42.0</td></tr><tr><td>Mutual savings banks.</td><td>8.0</td><td>.1</td><td>1</td><td>1</td><td>2.9</td><td>19.6</td><td>9.4</td></tr><tr><td>State and local governments 2/.</td><td>4.2</td><td>3.6</td><td>1.0</td><td>1.0</td><td>9.1</td><td>2.3</td><td>6.2</td></tr><tr><td>Dealers and brokers.</td><td>4.7</td><td>27.8</td><td>91.1</td><td>91.1</td><td>7.8</td><td>9.1</td><td>2.4</td></tr><tr><td>Other corporations and associations 3/.</td><td>37.6</td><td></td><td>27.8</td><td>91.1</td><td>68.0</td><td>25.9</td><td>12.5</td></tr><tr><td>Total sales to investor classes included in Third War Loan goals.</td><td>96.7</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>97.1</td><td>87.3</td></tr><tr><td>United States Government agencies and trust funds 4/.</td><td>3.3</td><td></td><td></td><td></td><td></td><td>2.9</td><td>12.7</td></tr><tr><td>Total sales to all investors during Third War Loan.</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>
1 Less than $500,000 or .05 percent.
2 Savings bonds are shown at original issue price.
2/ Includes their agencies and their trust, sinking, and investment funds.
3/ Includes elementary institutions and United States Government agencies and trust funds whose investments are not handled through the facilities of the Treasury
Department. Sales to such United States Government agencies and trust funds totaled $52 millions during the Third War Loan.
4/ Consists of United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department. See also footnote 3/.
5
Table 2. - Comparison of Goals and Sales of Securities During the Third War Loan, by States
<table><tr><th>State</th><th colspan="3">Total</th><th colspan="3">Individuals, partnerships, and personal trust accounts</th><th colspan="3">Corporations, associations, and State and local governments 1/</th><th colspan="3">U.S. Government agencies and trust funds 2/</th><th colspan="3">Series E savings bonds</th></tr><tr><th></th><th>Goals</th><th>Sales</th><th>Percent of goal accomplished (Percent)</th><th>Goals</th><th>Sales 3/</th><th>Percent of goal accomplished (Percent)</th><th>Goals</th><th>Sales 3/</th><th>Percent of goal accomplished (Percent)</th><th>Sales</th><th>Goals</th><th>Sales</th><th>Percent of goal accomplished (Percent)</th></tr><tr><td>Alabama</td><td>108</td><td>143</td><td>132</td><td>56</td><td>71</td><td>127</td><td>52</td><td>.72</td><td>138</td><td></td><td>35</td><td>30</td><td>85</td></tr><tr><td>Arizona</td><td>32</td><td>37</td><td>114</td><td>17</td><td>17</td><td>101</td><td>15</td><td>19</td><td>127</td><td></td><td>11</td><td>10</td><td>89</td></tr><tr><td>Arkansas</td><td>58</td><td>63</td><td>109</td><td>31</td><td>38</td><td>122</td><td>27</td><td>26</td><td>95</td><td></td><td>20</td><td>17</td><td>86</td></tr><tr><td>California-Northern</td><td>424</td><td>433</td><td>102</td><td>182</td><td>197</td><td>108</td><td>242</td><td>236</td><td>98</td><td></td><td>105</td><td>96</td><td>91</td></tr><tr><td>California-Southern</td><td>422</td><td>434</td><td>103</td><td>207</td><td>167</td><td>81</td><td>215</td><td>267</td><td>124</td><td></td><td>140</td><td>95</td><td>68</td></tr><tr><td>Colorado</td><td>72</td><td>102</td><td>142</td><td>37</td><td>49</td><td>132</td><td>35</td><td>53</td><td>152</td><td></td><td>22</td><td>23</td><td>103</td></tr><tr><td>Connecticut</td><td>453</td><td>511</td><td>113</td><td>99</td><td>78</td><td>79</td><td>354</td><td>432</td><td>122</td><td></td><td>63</td><td>42</td><td>67</td></tr><tr><td>Delaware</td><td>49</td><td>58</td><td>118</td><td>15</td><td>16</td><td>105</td><td>34</td><td>42</td><td>124</td><td></td><td>8</td><td>6</td><td>75</td></tr><tr><td>Diet. of Columbia</td><td>94</td><td>103</td><td>109</td><td>50</td><td>43</td><td>86</td><td>44</td><td>60</td><td>136</td><td></td><td>30</td><td>26</td><td>88</td></tr><tr><td>Florida</td><td>117</td><td>159</td><td>136</td><td>58</td><td>84</td><td>145</td><td>59</td><td>74</td><td>126</td><td></td><td>35</td><td>28</td><td>79</td></tr><tr><td>Georgia</td><td>137</td><td>210</td><td>153</td><td>70</td><td>122</td><td>175</td><td>67</td><td>88</td><td>131</td><td></td><td>37</td><td>31</td><td>83</td></tr><tr><td>Idaho</td><td>25</td><td>28</td><td>114</td><td>15</td><td>16</td><td>109</td><td>10</td><td>12</td><td>120</td><td></td><td>11</td><td>10</td><td>90</td></tr><tr><td>Illinois</td><td>921</td><td>1,180</td><td>128</td><td>330</td><td>312</td><td>95</td><td>591</td><td>868</td><td>147</td><td></td><td>195</td><td>142</td><td>73</td></tr><tr><td>Indiana</td><td>257</td><td>304</td><td>118</td><td>118</td><td>118</td><td>100</td><td>139</td><td>187</td><td>134</td><td></td><td>75</td><td>60</td><td>80</td></tr><tr><td>Iowa</td><td>196</td><td>248</td><td>127</td><td>89</td><td>114</td><td>128</td><td>107</td><td>134</td><td>126</td><td></td><td>58</td><td>65</td><td>112</td></tr><tr><td>Kansas</td><td>112</td><td>125</td><td>112</td><td>65</td><td>71</td><td>109</td><td>47</td><td>54</td><td>116</td><td></td><td>44</td><td>40</td><td>90</td></tr><tr><td>Kentucky</td><td>126</td><td>142</td><td>113</td><td>57</td><td>76</td><td>134</td><td>69</td><td>66</td><td>96</td><td></td><td>34</td><td>28</td><td>82</td></tr><tr><td>Louisiana</td><td>123</td><td>140</td><td>114</td><td>58</td><td>66</td><td>114</td><td>65</td><td>74</td><td>113</td><td></td><td>37</td><td>33</td><td>88</td></tr><tr><td>Maine</td><td>54</td><td>62</td><td>114</td><td>27</td><td>23</td><td>84</td><td>27</td><td>39</td><td>143</td><td></td><td>18</td><td>12</td><td>67</td></tr><tr><td>Maryland</td><td>196</td><td>331</td><td>169</td><td>84</td><td>95</td><td>113</td><td>112</td><td>236</td><td>210</td><td></td><td>54</td><td>31</td><td>57</td></tr><tr><td>Massachusetts</td><td>783</td><td>873</td><td>112</td><td>176</td><td>165</td><td>94</td><td>607</td><td>707</td><td>116</td><td></td><td>102</td><td>81</td><td>80</td></tr><tr><td>Michigan</td><td>451</td><td>563</td><td>125</td><td>225</td><td>218</td><td>97</td><td>226</td><td>344</td><td>152</td><td></td><td>165</td><td>153</td><td>93</td></tr><tr><td>Minnesota</td><td>216</td><td>279</td><td>129</td><td>96</td><td>102</td><td>107</td><td>120</td><td>176</td><td>147</td><td></td><td>60</td><td>65</td><td>108</td></tr><tr><td>Mississippi</td><td>53</td><td>65</td><td>123</td><td>34</td><td>44</td><td>129</td><td>19</td><td>21</td><td>111</td><td></td><td>21</td><td>22</td><td>103</td></tr><tr><td>Missouri</td><td>320</td><td>372</td><td>116</td><td>129</td><td>125</td><td>97</td><td>191</td><td>246</td><td>129</td><td></td><td>75</td><td>63</td><td>84</td></tr><tr><td>Montana</td><td>35</td><td>41</td><td>117</td><td>19</td><td>22</td><td>117</td><td>16</td><td>19</td><td>118</td><td></td><td>12</td><td>15</td><td>127</td></tr><tr><td>Nebraska</td><td>103</td><td>118</td><td>115</td><td>47</td><td>52</td><td>112</td><td>56</td><td>66</td><td>117</td><td></td><td>32</td><td>33</td><td>103</td></tr><tr><td>Nevada</td><td>10</td><td>11</td><td>109</td><td>6</td><td>6</td><td>102</td><td>4</td><td>5</td><td>115</td><td></td><td>5</td><td>3</td><td>60</td></tr><tr><td>New Hampshire</td><td>39</td><td>51</td><td>131</td><td>13</td><td>12</td><td>92</td><td>26</td><td>39</td><td>150</td><td></td><td>8</td><td>7</td><td>91</td></tr><tr><td>New Jersey</td><td>585</td><td>710</td><td>121</td><td>185</td><td>167</td><td>90</td><td>400</td><td>544</td><td>136</td><td></td><td>118</td><td>76</td><td>64</td></tr><tr><td>New Mexico</td><td>14</td><td>18</td><td>130</td><td>12</td><td>10</td><td>80</td><td>2</td><td>8</td><td>415</td><td></td><td>7</td><td>6</td><td>90</td></tr><tr><td>New York</td><td>4,709</td><td>5,580</td><td>118</td><td>796</td><td>851</td><td>107</td><td>3,913</td><td>4,729</td><td>121</td><td></td><td>366</td><td>246</td><td>67</td></tr><tr><td>North Carolina</td><td>145</td><td>182</td><td>126</td><td>70</td><td>70</td><td>100</td><td>75</td><td>112</td><td>150</td><td></td><td>45</td><td>34</td><td>76</td></tr><tr><td>North Dakota</td><td>29</td><td>35</td><td>121</td><td>17</td><td>21</td><td>124</td><td>12</td><td>14</td><td>118</td><td></td><td>13</td><td>17</td><td>128</td></tr><tr><td>Ohio</td><td>698</td><td>1,102</td><td>158</td><td>313</td><td>363</td><td>116</td><td>385</td><td>740</td><td>192</td><td></td><td>188</td><td>141</td><td>75</td></tr><tr><td>Oklahoma</td><td>100</td><td>127</td><td>127</td><td>45</td><td>58</td><td>129</td><td>55</td><td>68</td><td>124</td><td></td><td>31</td><td>32</td><td>103</td></tr><tr><td>Oregon</td><td>104</td><td>155</td><td>149</td><td>58</td><td>86</td><td>148</td><td>46</td><td>69</td><td>150</td><td></td><td>38</td><td>37</td><td>96</td></tr><tr><td>Pennsylvania</td><td>1,071</td><td>1,205</td><td>112</td><td>388</td><td>405</td><td>104</td><td>683</td><td>801</td><td>117</td><td></td><td>225</td><td>174</td><td>77</td></tr><tr><td>Rhode Island</td><td>81</td><td>112</td><td>138</td><td>31</td><td>26</td><td>84</td><td>50</td><td>86</td><td>172</td><td></td><td>18</td><td>13</td><td>75</td></tr><tr><td>South Carolina</td><td>61</td><td>78</td><td>128</td><td>33</td><td>30</td><td>92</td><td>28</td><td>48</td><td>170</td><td></td><td>23</td><td>18</td><td>78</td></tr><tr><td>South Dakota</td><td>35</td><td>42</td><td>121</td><td>20</td><td>23</td><td>117</td><td>15</td><td>19</td><td>127</td><td></td><td>14</td><td>16</td><td>112</td></tr><tr><td>Tennessee</td><td>141</td><td>185</td><td>131</td><td>64</td><td>89</td><td>139</td><td>77</td><td>96</td><td>125</td><td></td><td>36</td><td>33</td><td>93</td></tr><tr><td>Texas</td><td>420</td><td>520</td><td>124</td><td>201</td><td>262</td><td>130</td><td>219</td><td>258</td><td>118</td><td></td><td>127</td><td>115</td><td>91</td></tr><tr><td>Utah</td><td>41</td><td>54</td><td>132</td><td>20</td><td>17</td><td>84</td><td>21</td><td>37</td><td>175</td><td></td><td>14</td><td>13</td><td>91</td></tr><tr><td>Vermont</td><td>27</td><td>26</td><td>98</td><td>9</td><td>8</td><td>86</td><td>18</td><td>19</td><td>103</td><td></td><td>6</td><td>4</td><td>75</td></tr><tr><td>Virginia</td><td>153</td><td>194</td><td>127</td><td>74</td><td>68</td><td>93</td><td>79</td><td>125</td><td>158</td><td></td><td>48</td><td>38</td><td>78</td></tr><tr><td>Washington</td><td>191</td><td>221</td><td>116</td><td>88</td><td>81</td><td>92</td><td>103</td><td>140</td><td>136</td><td></td><td>66</td><td>52</td><td>78</td></tr><tr><td>West Virginia</td><td>76</td><td>135</td><td>177</td><td>42</td><td>64</td><td>152</td><td>34</td><td>71</td><td>209</td><td></td><td>25</td><td>17</td><td>70</td></tr><tr><td>Wisconsin</td><td>298</td><td>346</td><td>116</td><td>103</td><td>98</td><td>95</td><td>195</td><td>248</td><td>127</td><td></td><td>67</td><td>58</td><td>87</td></tr><tr><td>Wyoming</td><td>12</td><td>15</td><td>122</td><td>8</td><td>7</td><td>94</td><td>4</td><td>7</td><td>172</td><td></td><td>5</td><td>5</td><td>108</td></tr><tr><td>Alaska</td><td>1</td><td>2</td><td>198</td><td>1</td><td>2</td><td>149</td><td></td><td></td><td></td><td></td><td>1</td><td>1</td><td>129</td></tr><tr><td>Hawaii</td><td>18</td><td>22</td><td>125</td><td>8</td><td>11</td><td>133</td><td>10</td><td>12</td><td>117</td><td></td><td>6</td><td>8</td><td>114</td></tr><tr><td>Poaseseions</td><td>2</td><td>9</td><td>459</td><td>2</td><td>8</td><td>384</td><td></td><td></td><td></td><td></td><td>2</td><td>7</td><td>433</td></tr><tr><td>Unallocated</td><td>2</td><td>51 1/4</td><td></td><td>2</td><td>34 1/4</td><td></td><td></td><td>21 1/4</td><td></td><td></td><td></td><td>44</td><td></td></tr><tr><td>Totals for investor classes included in Third War Loan goals</td><td>15,000</td><td>18,313</td><td>122</td><td>5,000</td><td>5,377</td><td>108</td><td>10,000</td><td>12,936</td><td>129</td><td></td><td>3,000</td><td>2,472</td><td>82</td></tr><tr><td>Other sales</td><td></td><td>630</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>630</td><td></td><td></td><td></td></tr><tr><td>Total sales to all investors during Third War Loan</td><td></td><td>18,943</td><td></td><td></td><td>5,377</td><td></td><td></td><td>12,936</td><td></td><td>630</td><td></td><td>2,472</td><td></td></tr></table>
Less than $500,000. Comprises insurance companies, mutual savings banks, State and local governments (including their agencies and their trust, sinking, and investment funds), dealers and brokers, and other corporations and associations (including eleemosynary institutions and those United States Government agencies and trust funds whose investments are not handled through the facilities of the
2/ Treasury Department). Goals were not set for those United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department. 3/ For further details see Table 3. 4/ Figures do not add to the total because of certain required adjustments and minor inadequacies in reporting.
6
Table 3.- Sales of Securities During the Third War Loan, by States and by Classes of Investors
(In millions of dollars)
<table><tr><th>State</th><th>Total sales</th><th colspan="4">Sales to individuals, partnerships, and personal trust accounts (classified by issue)</th><th colspan="5">Sales to corporations, associations, and State and local governments (classified by investor group)</th><th>U.S. Government agencies and trust funds 2/</th></tr><tr><th></th><th></th><th>Total</th><th>Savings bonds 1/ Series E</th><th>Series F and G</th><th>Savings notes and marketable securities</th><th>Total</th><th>Insurance companies</th><th>Mutual savings banks</th><th>State and local governments 2/</th><th>Dealers and brokers</th><th>Other corporations and associations 3/</th><th></th></tr><tr><td>Alabama</td><td>143</td><td>71</td><td>30</td><td>6</td><td>35</td><td>72</td><td>4</td><td>•</td><td>11</td><td>1</td><td>56</td><td>•</td></tr><tr><td>Arizona</td><td>37</td><td>17</td><td>10</td><td>2</td><td>5</td><td>19</td><td>-</td><td>1</td><td>6</td><td>•</td><td>12</td><td>•</td></tr><tr><td>Arkansas</td><td>63</td><td>38</td><td>17</td><td>4</td><td>17</td><td>26</td><td>•</td><td>-</td><td>3</td><td>•</td><td>22</td><td>•</td></tr><tr><td>California-Northern</td><td>433</td><td>197</td><td>96</td><td>25</td><td>76</td><td>236</td><td>13</td><td>20</td><td>24</td><td>30</td><td>149</td><td>•</td></tr><tr><td>California-Southern</td><td>434</td><td>167</td><td>95</td><td>24</td><td>47</td><td>267</td><td>14</td><td>•</td><td>41</td><td>45</td><td>166</td><td>•</td></tr><tr><td>Colorado</td><td>102</td><td>49</td><td>23</td><td>4</td><td>22</td><td>53</td><td>1</td><td>•</td><td>10</td><td>-</td><td>43</td><td>•</td></tr><tr><td>Connecticut</td><td>511</td><td>78</td><td>42</td><td>11</td><td>25</td><td>432</td><td>231</td><td>85</td><td>13</td><td>1</td><td>102</td><td>•</td></tr><tr><td>Delaware</td><td>58</td><td>16</td><td>6</td><td>2</td><td>8</td><td>42</td><td>2</td><td>1</td><td>•</td><td>-</td><td>35</td><td>•</td></tr><tr><td>Dist. of Columbia</td><td>103</td><td>43</td><td>26</td><td>5</td><td>12</td><td>60</td><td>10</td><td>-</td><td>-</td><td>•</td><td>50</td><td>•</td></tr><tr><td>Florida</td><td>159</td><td>84</td><td>28</td><td>6</td><td>50</td><td>74</td><td>1</td><td>1</td><td>6</td><td>2</td><td>65</td><td>•</td></tr><tr><td>Georgia</td><td>210</td><td>122</td><td>31</td><td>6</td><td>86</td><td>88</td><td>3</td><td>5</td><td>6</td><td>10</td><td>65</td><td>•</td></tr><tr><td>Idaho</td><td>28</td><td>16</td><td>10</td><td>1</td><td>5</td><td>12</td><td>-</td><td>•</td><td>2</td><td>-</td><td>10</td><td>•</td></tr><tr><td>Illinois</td><td>1,180</td><td>312</td><td>142</td><td>39</td><td>132</td><td>868</td><td>65</td><td>2</td><td>50</td><td>12</td><td>741</td><td>•</td></tr><tr><td>Indiana</td><td>304</td><td>118</td><td>60</td><td>13</td><td>45</td><td>187</td><td>26</td><td>1</td><td>5</td><td>-</td><td>156</td><td>•</td></tr><tr><td>Iowa</td><td>248</td><td>114</td><td>65</td><td>18</td><td>34</td><td>134</td><td>43</td><td>•</td><td>4</td><td>-</td><td>87</td><td>•</td></tr><tr><td>Kansas</td><td>125</td><td>71</td><td>40</td><td>8</td><td>23</td><td>54</td><td>2</td><td>-</td><td>3</td><td>-</td><td>49</td><td>•</td></tr><tr><td>Kentucky</td><td>142</td><td>76</td><td>28</td><td>8</td><td>41</td><td>66</td><td>3</td><td>-</td><td>1</td><td>1</td><td>61</td><td>•</td></tr><tr><td>Louisiana</td><td>140</td><td>66</td><td>33</td><td>7</td><td>26</td><td>74</td><td>3</td><td>-</td><td>2</td><td>1</td><td>69</td><td>•</td></tr><tr><td>Maine</td><td>62</td><td>23</td><td>12</td><td>3</td><td>7</td><td>39</td><td>3</td><td>17</td><td>3</td><td>-</td><td>16</td><td>•</td></tr><tr><td>Maryland</td><td>331</td><td>95</td><td>31</td><td>9</td><td>56</td><td>236</td><td>25</td><td>73</td><td>18</td><td>22</td><td>98</td><td>•</td></tr><tr><td>Massachusetts</td><td>873</td><td>165</td><td>81</td><td>20</td><td>64</td><td>707</td><td>181</td><td>250</td><td>10</td><td>19</td><td>247</td><td>•</td></tr><tr><td>Michigan</td><td>563</td><td>218</td><td>153</td><td>22</td><td>43</td><td>344</td><td>8</td><td>1</td><td>55</td><td>•</td><td>279</td><td>•</td></tr><tr><td>Minnesota</td><td>279</td><td>102</td><td>65</td><td>12</td><td>26</td><td>176</td><td>10</td><td>7</td><td>16</td><td>2</td><td>142</td><td>•</td></tr><tr><td>Mississippi</td><td>65</td><td>44</td><td>22</td><td>5</td><td>17</td><td>21</td><td>3</td><td>-</td><td>1</td><td>-</td><td>17</td><td>•</td></tr><tr><td>Missouri</td><td>372</td><td>125</td><td>63</td><td>12</td><td>49</td><td>246</td><td>18</td><td>-</td><td>1</td><td>1</td><td>226</td><td>•</td></tr><tr><td>Montana</td><td>41</td><td>22</td><td>15</td><td>3</td><td>4</td><td>19</td><td>3</td><td>-</td><td>3</td><td>-</td><td>14</td><td>•</td></tr><tr><td>Nebraska</td><td>118</td><td>52</td><td>33</td><td>5</td><td>14</td><td>66</td><td>12</td><td>•</td><td>11</td><td>•</td><td>43</td><td>•</td></tr><tr><td>Nevada</td><td>11</td><td>6</td><td>3</td><td>1</td><td>2</td><td>5</td><td>-</td><td>24</td><td>1</td><td>1</td><td>3</td><td>•</td></tr><tr><td>New Hampshire</td><td>51</td><td>12</td><td>7</td><td>2</td><td>3</td><td>39</td><td>3</td><td>24</td><td>•</td><td>1</td><td>13</td><td>•</td></tr><tr><td>New Jersey</td><td>710</td><td>167</td><td>76</td><td>20</td><td>71</td><td>544</td><td>328</td><td>24</td><td>20</td><td>8</td><td>164</td><td>•</td></tr><tr><td>New Mexico</td><td>18</td><td>10</td><td>6</td><td>1</td><td>2</td><td>8</td><td>-</td><td>-</td><td>3</td><td>-</td><td>5</td><td>•</td></tr><tr><td>New York</td><td>5,580</td><td>851</td><td>246</td><td>86</td><td>519</td><td>4,729</td><td>1,254</td><td>850</td><td>108</td><td>606</td><td>1,910</td><td>•</td></tr><tr><td>North Carolina</td><td>182</td><td>70</td><td>34</td><td>6</td><td>29</td><td>112</td><td>12</td><td>-</td><td>17</td><td>1</td><td>82</td><td>•</td></tr><tr><td>North Dakota</td><td>35</td><td>21</td><td>17</td><td>2</td><td>2</td><td>14</td><td>1</td><td>-</td><td>7</td><td>-</td><td>7</td><td>•</td></tr><tr><td>Ohio</td><td>1,102</td><td>363</td><td>141</td><td>33</td><td>188</td><td>740</td><td>68</td><td>10</td><td>58</td><td>78</td><td>525</td><td>•</td></tr><tr><td>Oklahoma</td><td>127</td><td>58</td><td>32</td><td>5</td><td>21</td><td>68</td><td>1</td><td>-</td><td>14</td><td>-</td><td>52</td><td>•</td></tr><tr><td>Oregon</td><td>155</td><td>86</td><td>37</td><td>5</td><td>44</td><td>69</td><td>3</td><td>1</td><td>13</td><td>3</td><td>49</td><td>•</td></tr><tr><td>Pennsylvania</td><td>1,205</td><td>405</td><td>174</td><td>48</td><td>182</td><td>801</td><td>114</td><td>51</td><td>76</td><td>24</td><td>507</td><td>•</td></tr><tr><td>Rhode Island</td><td>112</td><td>26</td><td>13</td><td>3</td><td>9</td><td>86</td><td>11</td><td>33</td><td>4</td><td>•</td><td>38</td><td>•</td></tr><tr><td>South Carolina</td><td>78</td><td>30</td><td>18</td><td>3</td><td>9</td><td>48</td><td>1</td><td>-</td><td>9</td><td>•</td><td>38</td><td>•</td></tr><tr><td>South Dakota</td><td>42</td><td>23</td><td>16</td><td>2</td><td>6</td><td>19</td><td>•</td><td>-</td><td>8</td><td>-</td><td>10</td><td>•</td></tr><tr><td>Tennessee</td><td>185</td><td>89</td><td>33</td><td>7</td><td>49</td><td>96</td><td>9</td><td>1</td><td>4</td><td>6</td><td>76</td><td>•</td></tr><tr><td>Texas</td><td>520</td><td>262</td><td>115</td><td>24</td><td>123</td><td>258</td><td>37</td><td>1</td><td>24</td><td>8</td><td>189</td><td>•</td></tr><tr><td>Utah</td><td>54</td><td>17</td><td>13</td><td>1</td><td>3</td><td>37</td><td>1</td><td>3</td><td>9</td><td>•</td><td>24</td><td>•</td></tr><tr><td>Vermont</td><td>26</td><td>8</td><td>4</td><td>1</td><td>2</td><td>19</td><td>3</td><td>7</td><td>2</td><td>-</td><td>7</td><td>•</td></tr><tr><td>Virginia</td><td>194</td><td>68</td><td>38</td><td>9</td><td>22</td><td>125</td><td>22</td><td>-</td><td>27</td><td>1</td><td>75</td><td>•</td></tr><tr><td>Washington</td><td>221</td><td>81</td><td>52</td><td>9</td><td>19</td><td>140</td><td>5</td><td>9</td><td>44</td><td>12</td><td>79</td><td>•</td></tr><tr><td>West Virginia</td><td>135</td><td>64</td><td>17</td><td>3</td><td>44</td><td>71</td><td>1</td><td>-</td><td>7</td><td>12</td><td>52</td><td>•</td></tr><tr><td>Wisconsin</td><td>346</td><td>98</td><td>58</td><td>15</td><td>25</td><td>248</td><td>68</td><td>1</td><td>30</td><td>•</td><td>150</td><td>•</td></tr><tr><td>Wyoming</td><td>15</td><td>7</td><td>5</td><td>1</td><td>1</td><td>7</td><td>-</td><td>-</td><td>3</td><td>-</td><td>4</td><td>•</td></tr><tr><td>Alaska</td><td>2</td><td>2</td><td>1</td><td>•</td><td>•</td><td>•</td><td>-</td><td>-</td><td>-</td><td>-</td><td>•</td><td>•</td></tr><tr><td>Hawaii</td><td>22</td><td>11</td><td>8</td><td>2</td><td>•</td><td>12</td><td>-</td><td>•</td><td>•</td><td>-</td><td>11</td><td>•</td></tr><tr><td>Postseasons</td><td>9</td><td>8</td><td>7</td><td>•</td><td>1</td><td>2</td><td>-</td><td>-</td><td>1</td><td>-</td><td>1</td><td>•</td></tr><tr><td>Unallocated</td><td>51 5/</td><td>34 5/</td><td>44 5/</td><td>-</td><td>-</td><td>21 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21 5/</td><td>•</td></tr><tr><td>Total sales to investor classes included in Third War Loan goals</td><td>18,313</td><td>5,377</td><td>2,472</td><td>565</td><td>2,340</td><td>12,936</td><td>2,620</td><td>1,508</td><td>795</td><td>894</td><td>7,120</td><td>•</td></tr><tr><td>Other sales</td><td>630</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>•</td><td>630</td></tr><tr><td>Total sales to all investors during Third War Loan</td><td>18,943</td><td>5,377</td><td>2,472</td><td>565</td><td>2,340</td><td>12,936</td><td>2,620</td><td>1,508</td><td>795</td><td>894</td><td>7,120</td><td>630</td></tr></table>
1/ Less than $500,000.
2/ Savings bonds are shown at original issue price.
3/ Includes their agencies and their trust, sinking, and investment funds.
3/ Includes eleemosynary institutions and those United States Government agencies and trust funds whose investments are not handled through the facilities of
4/ The Treasury Department. Consists of United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department.
5/ Figures do not add to the total because of certain required adjustments and minor inadequacies in reporting.
7
Table 4. - Comparison of Sales of Securities During the First, Second, and Third War Loans, by Classes of Investors and by Issues
(In millions of dollars)
<table><tr><th>Security issue</th><th>Total sales to all investors</th><th>Sales to commercial banks</th><th colspan="5">Sales to nonbanking investors</th></tr><tr><th></th><th></th><th></th><th>Individuals, partnerships, and personal trust accounts</th><th>Insurance companies</th><th>Mutual savings banks</th><th>State and local governments 2/</th><th>Dealers and brokers 3/</th><th>Other corporations and associations 4/</th><th>U.S. Government agencies and trust funds 5/</th></tr><tr><td>Savings bonds: 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series E: First War Loan. Second War Loan. Third War Loan.</td><td>1,726 1,473 2,472</td><td>726 1,473 2,472</td><td>726 1,473 2,472</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Series F and O: First War Loan. Second War Loan. Third War Loan.</td><td>288 667 831</td><td>288 667 831</td><td>216 425 565</td><td>1 1 1</td><td>30</td><td>1 3 3</td><td>72 30 231</td><td>1 2 1</td></tr><tr><td>Tax and savings notes: Series A: First War Loan.</td><td>87</td><td>87</td><td>66</td><td>-</td><td>-</td><td>-</td><td>21</td><td>-</td></tr><tr><td>Series C: First War Loan. Second War Loan. Third War Loan.</td><td>1,248 1,652 2,483</td><td>1,248 1,652 2,483</td><td>122 132 193</td><td>1 1 1</td><td>26</td><td>1 1 1</td><td>1,126 1,520 2,262</td><td>-</td></tr><tr><td>Treasury bills: 8/ First War Loan. Second War Loan.</td><td>906 810</td><td>906 810</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>7/8% Certificates of indebtedness: First War Loan (12/1/43). Second War Loan (4/1/44). Third War Loan (9/1/44).</td><td>3,800 5,251 r 4,120</td><td>2,121 2,147 r 4,120</td><td>121 246 366</td><td>76 123 136</td><td>51 105 119</td><td>82 241 376</td><td>450 355 322</td><td>697 2,021 r 2,801</td><td>2 13 -</td></tr><tr><td>1-3/4% and 2% Treasury bonds: First War Loan (1-3/4%, 1948). Second War Loan (2%, 1950-52). Third War Loan (2%, 1951-53).</td><td>3,062 4,939 r 5,260</td><td>2,061 2,122 r 5,260</td><td>85 472 1,220</td><td>240 703 894</td><td>86 539 1,032</td><td>30 82 123</td><td>318 189 480</td><td>240 822 r 1,360</td><td>2 10 151</td></tr><tr><td>2-1/2% Treasury bonds: First War Loan (1963-68). Second War Loan (6/15/64-69). Third War Loan (12/15/64-69).</td><td>2,831 3,762 r 3,777</td><td>2,831 3,762 r 3,777</td><td>257 540 561</td><td>1,382 1,582 1,585</td><td>483 550 354</td><td>88 181 235</td><td>117 r - 92</td><td>237 r 540 r 471</td><td>267 369 479</td></tr><tr><td>Total: First War Loan. Second War Loan. Third War Loan.</td><td>12,947 18,555 r 18,943</td><td>5,087 5,079 r 18,943</td><td>1,593 1,290 5,377</td><td>1,699 2,408 2,620</td><td>620 1,195 1,508</td><td>200 503 795</td><td>886 r 544 894</td><td>2,593 r 5,145 r 7,120</td><td>270 391 630</td></tr><tr><td colspan="10">Revised. 1/ Less than $500,000. 1/ The First War Loan took place in December 1942; the Second War Loan in April 1943; the Third War Loan in September 1943. 2/ Includes their agencies and their trust, sinking, and investment funds. 3/ Figures for the Second War Loan exclude amounts distributed or earmarked by dealers and brokers for distribution to nonbanking investors; these amounts have been distributed to the appropriate nonbanking investor classes. 4/ Includes elementary institutions; for the Third War Loan only, those United States Government agencies and trust funds whose investments are not handled through the facilities of the Treasury Department are also included. 5/ Figures for the Third War Loan consist, only of sales to those United States Government agencies and trust funds whose investments are handled through the facilities of the Treasury Department. 6/ Savings bonds are shown at original issue price. 7/ Sales of Series F and O savings bonds and Series C tax notes to corporations, associations, and State and local governments during the First and Second War Loans have been arbitrarily assigned to "Other corporations and associations". 8/ Figures shown represent net increase in amount of Treasury bills outstanding during months of December 1942 and April 1943, respectively, and have been arbitrarily assigned to commercial banks.</td></tr></table>
Table 5. - Comparison of Sales of Series E Savings Bonds by Denomination During the First, Second, and Third War Loans
<table><tr><th rowspan="2"></th><th colspan="5">Sales in millions of dollars at issue price</th><th colspan="5">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>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th></tr><tr><td>First War Loan</td><td>726</td><td>265</td><td>99</td><td>157</td><td>89</td><td>116</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></tr><tr><td>Second War Loan</td><td>1,473</td><td>426</td><td>171</td><td>314</td><td>225</td><td>338</td><td>100.0</td><td>28.9</td><td>11.6</td><td>21.3</td><td>15.3</td><td>22.9</td></tr><tr><td>Third War Loan</td><td>2,472</td><td>653</td><td>291</td><td>617</td><td>388</td><td>522</td><td>100.0</td><td>26.4</td><td>11.8</td><td>25.0</td><td>15.7</td><td>21.1</td></tr></table>
Treasury Market Financing in October 1943
New security offerings to commercial banks
In accordance with Secretary Morgenthau's announcement of August 16, 1943, the Third War Loan was followed by an offering of certificates of indebtedness and Treasury bonds for the exclusive subscription of commercial banks, which had been excluded from the Third War Loan.
The securities offered were a 7/8 percent certificate of indebtedness due October 1, 1944, and a 2 percent Treasury bond callable on or after September 15, 1951, and maturing September 15, 1953. The latter was the same issue which had been offered to subscribers other than banks during the Third War Loan. The total amount offered banks for cash subscription was $3 billions, divided equally between the two issues. Bank subscriptions to each issue were limited to the combined capital, surplus, and undivided profits of the bank, or to 5 percent of its total deposits, whichever was greater. Cash subscriptions up to $50,000 were allotted in full. Subscription books were open for three days commencing October 6. Subscriptions for the certificate amounted to $5,390 millions and were allotted on a 26 percent
basic, while subscriptions for the bond totaled $5,532 millions and were allotted on a 25 percent basis, subject in each case to minimum allotments of $50,000 on all subscriptions of over $50,000.
Exchange of maturing securities
Simultaneous with the cash offering to commercial banks, holders of the 3-1/4 percent Treasury bonds called for redemption October 15, 1943, were given the opportunity of exchanging their bonds on a par-for-par basis for either the 2 percent Treasury bonds of 1951-53 or the 2-1/2 percent Treasury bonds of December 15, 1964-69 offered during the Third War Loan (subject to the restriction on commercial bank acquisition of the 2-1/2 percent bonds before September 15, 1953); and holders of Treasury certificate of indebtedness maturing November 1, 1943, were given the privilege of exchanging them for the new certificates of indebtedness offered to commercial banks.
Results of the financing are summarised in the following table.
New Treasury Securities Offered in the Market During October 1943
<table><tr><th>New security</th><th>Total amount issued</th><th colspan="2">Cash offerings to commercial banks</th><th colspan="2">Amount of maturing security exchanged</th><th colspan="2">Percent of maturing security exchanged</th></tr><tr><th></th><th></th><th>Subscriptions</th><th>Allotments</th><th>7/85 Certificates of indebtedness, 11/1/43</th><th>3-1/4% Treasury bonds, 10/15/43-45 2/3</th><th>7/85 Certificates of indebtedness, 11/1/43</th><th>3-1/4% Treasury bonds, 10/15/43-45 2/3</th></tr><tr><td colspan="3">(In millions of dollars)</td><td colspan="2"></td><td colspan="2">(Percent)</td></tr><tr><td>7/85 Certificates of indebtedness, 10/1/44</td><td>3,516</td><td>5,390</td><td>1,580</td><td>1,936</td><td>3/</td><td>95</td><td>3/</td></tr><tr><td>2% Treasury bonds, 9/15/51-53</td><td>2,728</td><td>5,532</td><td>1,627</td><td>1/</td><td>1,101</td><td>1/</td><td>79</td></tr><tr><td>2-1/2% Treasury bonds, 12/15/64-69 1/2</td><td>59</td><td>3/</td><td>3/</td><td>1/</td><td>59</td><td>3/</td><td>4</td></tr><tr><td>Total</td><td>6,303</td><td>10,922</td><td>3,207</td><td>1,936</td><td>1,160</td><td>95</td><td>83</td></tr></table>
This security was not included in the offering. The 2-1/2 percent Treasury bonds, 12/15/64-69 may not be held by commercial banks prior to September 15, 1953.
1/ Excludes Treasury bills. Does not include sales of these securities during the Third War Loan.
2/ Called for redemption on October 15, 1943.
SUMMARY OF FISCAL STATISTICS
10
Budgetary Receipts and Expenditures
(In millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="4">First 3 months, fiscal years 1942 to 1944</th><th colspan="6">Complete fiscal years, 1940 to 1944</th></tr><tr><th>1942</th><th>1943</th><th>1944</th><th>Change 1943 to 1944</th><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>1944</th><th>Actual 1942 to 1943</th><th>Actual 1943 to 1944</th></tr><tr><td>Receipts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Estimated 1/</td><td>Change</td></tr><tr><td>Internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income and profits taxes 2/</td><td>922</td><td>2,554</td><td>7,584</td><td>+5,030</td><td>2,125</td><td>3,470</td><td>7,960</td><td>16,094</td><td>31,552</td><td>+8,133</td><td>+15,968</td></tr><tr><td>Employment taxes</td><td>256</td><td>326</td><td>408</td><td>+82</td><td>833</td><td>925</td><td>1,186</td><td>1,498</td><td>2,624</td><td>+312</td><td>+596</td></tr><tr><td>Miscellaneous internal revenue 3/</td><td>798</td><td>1,087</td><td>1,585</td><td>+498</td><td>2,345</td><td>2,967</td><td>3,847</td><td>4,553</td><td>4,935</td><td>+706</td><td>+382</td></tr><tr><td>Custoes</td><td>107</td><td>67</td><td>103</td><td>+36</td><td>349</td><td>392</td><td>389</td><td>324</td><td>334</td><td>-65</td><td>+10</td></tr><tr><td>Other receipts</td><td>62</td><td>85</td><td>822</td><td>+737</td><td>273</td><td>515</td><td>286</td><td>916</td><td>1,026</td><td>+631</td><td>+109</td></tr><tr><td>Total receipts</td><td>2,145</td><td>4,118</td><td>10,500</td><td>+6,382</td><td>5,925</td><td>8,269</td><td>13,668</td><td>23,385</td><td>40,350</td><td>+9,717</td><td>+16,965</td></tr><tr><td>Loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 5/</td><td>201</td><td>258</td><td>325</td><td>+67</td><td>538</td><td>661</td><td>869</td><td>1,103</td><td>1,632</td><td>+234</td><td>+529</td></tr><tr><td>Net receipts</td><td>1,944</td><td>3,861</td><td>10,176</td><td>+6,315</td><td>5,387</td><td>7,607</td><td>12,799</td><td>22,282</td><td>38,718</td><td>+9,183</td><td>+16,436</td></tr><tr><td>Expenditures: 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War activities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War Department</td><td>1,859</td><td>9,254</td><td>12,064</td><td>+2,809</td><td>667</td><td>3,678</td><td>14,070</td><td>42,265</td><td>56,000</td><td>+28,195</td><td>+13,735</td></tr><tr><td>Navy Department</td><td>1,227</td><td>3,773</td><td>5,844</td><td>+2,071</td><td>891</td><td>2,313</td><td>8,580</td><td>20,888</td><td>28,000</td><td>+12,3</td><td>+7,112</td></tr><tr><td>Miscellaneous war activities</td><td>344</td><td>1,739</td><td>2,709</td><td>+970</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>3,430</td><td>14,766</td><td>20,616</td><td>+5,850</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 7/</td><td>138</td><td>155</td><td>151</td><td>-3</td><td>557</td><td>563</td><td>556</td><td>602</td><td>837</td><td>+47</td><td>+285</td></tr><tr><td>Public Works 8/</td><td>191</td><td>164</td><td>137</td><td>-27</td><td>950</td><td>738</td><td>680</td><td>543</td><td>494</td><td>-137</td><td>-79</td></tr><tr><td>Aid to agriculture 9/</td><td>231</td><td>246</td><td>204</td><td>-42</td><td>1,559</td><td>937 10/</td><td>1,225</td><td>1,163</td><td>960</td><td>-61</td><td>-203</td></tr><tr><td>Social Security program 11/</td><td>189</td><td>263</td><td>318</td><td>+55</td><td>513</td><td>588</td><td>659</td><td>735</td><td>766</td><td>+76</td><td>+31</td></tr><tr><td>Direct and work relief:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Work Projects Administration and National Youth Administration 12/</td><td>274</td><td>132</td><td>6</td><td>-126</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>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Civilian Conservation Corps</td><td>58</td><td>13</td><td>0</td><td>-13</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>203</td><td>266</td><td>425</td><td>+159</td><td>1,041</td><td>1,111</td><td>1,260</td><td>1,808</td><td>2,700</td><td>+548</td><td>+892</td></tr><tr><td>Other 13/</td><td>287</td><td>302</td><td>407</td><td>+105</td><td>866</td><td>841</td><td>873</td><td>901</td><td>1,259</td><td>+29</td><td>+358</td></tr><tr><td>Total expenditures 6/</td><td>5,001</td><td>16,307</td><td>22,264</td><td>+5,958</td><td>8,998</td><td>12,711</td><td>32,397</td><td>78,179</td><td>104,036</td><td>+45,782</td><td>+25,857</td></tr><tr><td>Net budgetary deficit 6/</td><td>3,057</td><td>12,446</td><td>12,089</td><td>-357</td><td>3,611</td><td>5,103</td><td>19,598</td><td>55,897</td><td>65,318</td><td>+36,300</td><td>+9,421</td></tr></table>
Source: Daily Treasury Statements, except as noted. Less than $500,000.
1/ Based upon Budget estimates revised as of August 1, 1943. Budget estimates of post-war credits for excess profits tax, victory tax, etc., are excluded in order to make the estimates comparable with Daily Treasury Statement figures.
2/ Includes unjust enrichment tax and victory tax. Beginning July, 1943, includes collections of taxes withheld by employers under the Current Tax Payment Act of 1943. For details see following chapter on Receipts and Expenditures and Appropriations, Table 2.
3/ Includes chiefly alcoholic beverage taxes, tobacco taxes, manufacturers' and retailers' excise taxes, and estate taxes.
4/ Includes in excess of $450 millions deposited by the War and Navy Departments and the U. S. Maritime Commission as a result of renegotiation of war contracts, and $10 millions representing repayment of amounts paid to Commodity Credit Corporation for capital repayment.
5/ For explanation, see tables in next chapter on Social Security program
6/ Excludes expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
1/ Includes expenditures classified as transfers to trust accounts, etc., for the Adjusted Service Certificate Fund and the National Service Life insurance Fund.
5/ 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 transfer 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. Excludes 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 not otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds.
11
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">End of first 3 months, fiscal years 1942 to 1944</th><th colspan="6">End of fiscal years, 1940 to 1944</th></tr><tr><th></th><th>Sept. 30, 1941</th><th>Sept. 30, 1942</th><th>Sept. 30, 1943</th><th>Change Sept. 30, 1942 to Sept. 30, 1943</th><th colspan="3">Actual</th><th>Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 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>Securities issued by the United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable</td><td>37,358</td><td>60,402</td><td>111,426</td><td>+51,024</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>6,765</td><td>16,936</td><td>33,910</td><td>+16,974</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>44,133</td><td>77,338</td><td>145,336</td><td>+67,999</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 issues</td><td>6,658</td><td>8,509</td><td>11,717</td><td>+3,208</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>50,791</td><td>85,847</td><td>157,053</td><td>+71,206</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>556</td><td>637</td><td>1,296</td><td>+660</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>51,346</td><td>86,483</td><td>158,349</td><td>+71,866</td><td>42,968</td><td>48,961</td><td>72,422</td><td>136,696</td><td>206,000</td><td>+64,274</td><td>+69,304</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></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable</td><td>6,929</td><td>4,515</td><td>3,888</td><td>-627</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>37</td><td>77</td><td>+40</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>6,929</td><td>4,552</td><td>3,964</td><td>-588</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>9</td><td>22</td><td>7</td><td>-15</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>6,937</td><td>4,574</td><td>3,971</td><td>-603</td><td>5,529</td><td>6,370</td><td>4,568</td><td>4,100</td><td>1,202 r</td><td>-468</td><td>-2,898 r</td></tr><tr><td>Total public debt and guaranteed securities outstanding</td><td>58,284</td><td>91,058</td><td>162,321</td><td>+71,263</td><td>48,496</td><td>55,332</td><td>76,991</td><td>140,796</td><td>207,202 r</td><td>+63,805</td><td>+66,406 r</td></tr></table>
Source: Daily Treasury Statement, except as noted. r Revised. 1/ Based upon Budget estimates revised as of August 1, 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 rowspan="2"></th><th colspan="3">First 3 months, fiscal years 1942 to 1944</th><th colspan="5">Complete fiscal years, 1940 to 1944</th></tr><tr><th>1942</th><th>1943</th><th>1944</th><th colspan="4">Actual</th><th>Estimated 1/1</th></tr><tr><th></th><th></th><th></th><th></th><th>1940</th><th>1941</th><th>1942</th><th>1943</th><th>1944</th></tr><tr><td>Amount required to be financed:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net budgetary deficit 2/.</td><td>3,057</td><td>12,146</td><td>12,089</td><td>3,611</td><td>5,103</td><td>19,598</td><td>55,897</td><td>65,318</td></tr><tr><td>Net increase in General Fund balance....</td><td>-</td><td>1,311</td><td>8,651</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>304</td><td>914</td><td>-</td><td>148</td><td>3,506</td><td>1,861</td><td>4,694</td></tr><tr><td>Total amount required to be financed....</td><td>3,057</td><td>14,061</td><td>21,653</td><td>3,611</td><td>5,994</td><td>23,461</td><td>64,274</td><td>70,012</td></tr><tr><td>Means of financing:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Increase in public debt....</td><td>2,385</td><td>14,061</td><td>21,653</td><td>2,528</td><td>5,994</td><td>23,461</td><td>64,274</td><td>69,304</td></tr><tr><td>Net decrease in General Fund balance....</td><td>368</td><td>-</td><td>-</td><td>947</td><td>-</td><td>-</td><td>-</td><td>708</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/.</td><td>304</td><td>-</td><td>-</td><td>136</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed....</td><td>3,057</td><td>14,061</td><td>21,653</td><td>3,611</td><td>5,994</td><td>23,461</td><td>64,274</td><td>70,012</td></tr></table>
Source: 1/ Daily Treasury Statements, except as noted. Based upon Budget estimates revised as of August 1, 1943. Budget estimates of post-war credits for excise profits tax, victory tax, etc. are excluded in order to make the estimates comparable with Daily Treasury Statement figures. 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 or silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
-13-
13
Appropriations and Net Contract Authorizations for the War Activities Program
As of September 30, 1943
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorizations 2/</th></tr><tr><td colspan="5">76th Congress, Third Session</td></tr><tr><td>Mar. 25, 1940</td><td>442</td><td>Treasury Department Appropriation Act, 1941</td><td>$ 53,965,035</td><td>-</td></tr><tr><td>Apr. 18, 1940</td><td>459</td><td>Independent Offices Appropriation Act, 1941</td><td>119,500,000</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>88 1/</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 1/</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 1/</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 1/</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 equipment - War Department)</td><td>175,000,000</td><td>-</td></tr><tr><td>Mar. 1, 1941</td><td>9</td><td>Urgent Deficiency Appropriation Act, 1941</td><td>6,047,775</td><td>-</td></tr><tr><td>Mar. 17, 1941</td><td>13</td><td>Fourth Supplemental National Defense Appropriation Act, 1941</td><td>1,376,464,602</td><td>-</td></tr><tr><td>Mar. 27, 1941</td><td>23</td><td>Defense Aid Supplemental Appropriation Act, 1941</td><td>7,000,000,000</td><td>-</td></tr><tr><td>Apr. 1, 1941</td><td>25</td><td>First Deficiency Appropriation Act, 1941</td><td>114,458,468</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>28</td><td>Independent Offices Appropriation Act, 1942</td><td>399,360,000</td><td>-</td></tr><tr><td>Apr. 5, 1941</td><td>29</td><td>Fifth Supplemental National Defense Appropriation Act, 1941</td><td>2,293,227,920</td><td>-</td></tr><tr><td>May 6, 1941</td><td>48</td><td>Navy Department Appropriation Act, 1942</td><td>3,415,521,750</td><td>-</td></tr><tr><td>May 23, 1941</td><td>71</td><td>War Department Civil Appropriation Act, 1942</td><td>37,920,370</td><td>-</td></tr><tr><td>May 24, 1941</td><td>73</td><td>Additional Urgent Deficiency Appropriation Act, 1941</td><td>168,556,000</td><td>-</td></tr><tr><td>May 31, 1941</td><td>88</td><td>Treasury Department Appropriation Act, 1942</td><td>62,193,150</td><td>-</td></tr><tr><td>June 28, 1941</td><td>135</td><td>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>10,384,321,624</td><td>-</td></tr><tr><td>July 1, 1941</td><td>146</td><td>Labor - Federal Security Appropriation Act, 1942</td><td>173,168,500</td><td>-</td></tr><tr><td>July 3, 1941</td><td>150</td><td>Second Deficiency Appropriation Act, 1941</td><td>998,894,561</td><td>-</td></tr><tr><td>Aug. 25, 1941</td><td>247</td><td>First Supplemental National Defense Appropriation Act, 1942</td><td>6,580,012,448</td><td>-</td></tr><tr><td>Oct. 28, 1941</td><td>282</td><td>Second Supplemental National Defense Appropriation Act, 1942:</td><td>5,985,000,000</td><td>$ 600,000,000 4/</td></tr><tr><td></td><td></td><td>(Title I)</td><td>159,005,585</td><td>47,000,000</td></tr><tr><td>Nov. 19, 1941</td><td>295</td><td>Defense Highway Act of 1941</td><td>9,112,021,947</td><td>60,000,000</td></tr><tr><td>Dec. 17, 1941</td><td>353</td><td>Third Supplemental National Defense Appropriation Act, 1942</td><td>510,000,000</td><td>-</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Joint Resolution (War, Philippine relief, and defense housing)</td><td>$ 49,396,437,450</td><td>$ 707,000,000</td></tr><tr><td colspan="3">Total, 77th Congress, First Session</td><td></td><td></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>23,718,865,474</td><td>$2,400,000,000 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>463</td><td>First Deficiency Appropriation Act, 1942</td><td>135,203,321</td><td>-</td></tr><tr><td>Mar. 5, 1942</td><td>474</td><td>Fifth Supplemental National Defense Appropriation Act, 1942</td><td>30,412,737,900</td><td>98,149,182</td></tr><tr><td>Apr. 28, 1942</td><td>527</td><td>War Department Civil Appropriation Act, 1943</td><td>57,886,985</td><td>-</td></tr><tr><td>Apr. 28, 1942</td><td>528</td><td>Sixth Supplemental National Defense Appropriation Act, 1942</td><td>18,932,124,093</td><td>40,100,000</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>150,000,000</td></tr><tr><td>June 23, 1942</td><td>626</td><td>Seventh Supplemental National Defense Appropriation Act, 1942 1/</td><td>655,074,740</td><td>90,000,000</td></tr><tr><td>June 27, 1942</td><td>630</td><td>Independent Offices Appropriation Act, 1943</td><td>1,052,312,004</td><td>-</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>35,000,000</td><td>-</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>8,841,756,447 r 6/</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>$11,655,305,629 r</td></tr><tr><td colspan="3">Total, 77th Congress, Second Session</td><td>$139,716,203,988</td><td></td></tr></table>
(Continued on following page)
14
Appropriations and Net Contract Authorizations for the War Activities Program 1/ As of September 30, 1943 - (Continued)
<table><tr><th>Date approved</th><th>Public law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorisations 2/</th></tr><tr><td colspan="5">78th Congress, First Session</td></tr><tr><td>Mar. 2, 1943</td><td>3</td><td>Joint Resolution (Selective Service System).</td><td>$ 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</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>3,836,176,119</td><td>50,000,000</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 25, 1943</td><td>90</td><td>Independent Offices Appropriation Act, 1944.</td><td>1,335,013,569</td><td>-</td></tr><tr><td>June 26, 1943</td><td>92</td><td>Naval Appropriation Act, 1944.</td><td>27,637,226,198 2/</td><td>5,389,000,000 6/</td></tr><tr><td>July 1, 1943</td><td>105</td><td>Departments of State, Justice and Commerce Appropriation Act, 1944.</td><td>67,635,000</td><td>-</td></tr><tr><td>July 1, 1943</td><td>108</td><td>Military Appropriation Act, 1944.</td><td>59,034,839,673</td><td>-</td></tr><tr><td>July 12, 1943</td><td>129</td><td>Department of Agriculture Appropriation Act, 1944.</td><td>38,048,000</td><td>-</td></tr><tr><td>July 12, 1943</td><td>132</td><td>Urgent Deficiency Appropriation Act, 1943.</td><td>31,979,600</td><td>-</td></tr><tr><td>July 12, 1943</td><td>133</td><td>Interior Department Appropriation Act, 1944.</td><td>14,884,000</td><td>-</td></tr><tr><td>July 12, 1943</td><td>135</td><td>Labor - Federal Security Appropriation Act, 1944.</td><td>307,953,500</td><td>-</td></tr><tr><td>July 12, 1943</td><td>139</td><td>National War Agencies Appropriation Act, 1944.</td><td>2,911,697,224</td><td>18,000,000</td></tr><tr><td>July 12, 1943</td><td>140</td><td>Second Deficiency Appropriation Act, 1943.</td><td>151,340,088 r</td><td>-</td></tr><tr><td colspan="3">Total, 78th Congress, First Session.</td><td>$105,816,588,853 r</td><td>$ 7,630,719,545</td></tr><tr><td colspan="5">Pending 10/</td></tr><tr><td colspan="3">Joint Resolution (Labor Department).</td><td>$ 18,620,000 11/</td><td>-</td></tr></table>
<table><tr><th colspan="4">Summary</th></tr><tr><td></td><td>Total, 76th Congress, Third Session</td><td>$ 8,994,015,828</td><td>-</td></tr><tr><td></td><td>Total, 77th Congress, First Session</td><td>49,396,437,450</td><td>$ 707,000,000</td></tr><tr><td></td><td>Total, 77th Congress, Second Session</td><td>139,736,203,988</td><td>11,655,305,629 r</td></tr><tr><td></td><td>Total, 78th Congress, First Session</td><td>105,816,588,853 r</td><td>7,630,719,545</td></tr><tr><td></td><td>Permanent appropriations and net transfers from other than war activities appropriations 12/</td><td>107,285,165</td><td>-</td></tr><tr><td></td><td>Total approved</td><td>$304,050,531,284</td><td>$19,993,025,174 r</td></tr><tr><td></td><td>Total pending, 78th Congress, First Session</td><td>18,620,000</td><td>-</td></tr><tr><td></td><td>Liquidations of 1940 and prior contract authorisations</td><td>-467,872,846</td><td>-</td></tr><tr><td></td><td>Total approved and pending appropriations and net contract authorizations 1/</td><td>$303,601,278,438</td><td>$19,993,025,174 r</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 (except immediately available funds from fiscal year 1941 appropriations) available for expenditure in the fiscal year 1941. Contract authorizations have been reduced by later appropriations which were earmarked in authorizing acts for this purpose.
2/ Public resolution number.
3/ 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. Includes $9,693,525,500 appropriated for the fiscal year 1942.
4/ Unappropriated contract authorizations for the naval expansion program are as follows:
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 appropriation bills reported from the Committee on Appropriations to the House, or in subsequent stages of Congressional action before Presidential approval.
11/ Approved October 1, 1943 as Public Law No. 156.
12/ 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 $3,797,856 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 defense articles amounting to $39,464,557.
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Amount</th></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>$ 2,400,000,000</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>(Estimated by Navy Department) 8,841,756,447</td></tr><tr><td>June 26, 1943</td><td>92</td><td>(Estimated by Navy Department) 3,389,000,000</td></tr><tr><td></td><td></td><td>$14,630,756,447</td></tr></table>
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.
15
Budgetary 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="4">Receipts</th><th colspan="6">Expenditures 1/</th><th rowspan="2">Net budgetary deficit 1/</th><th rowspan="2">Public debt retirement 8/</th></tr><tr><th>Total receipts</th><th>Internal revenue 2/</th><th>Customs</th><th>Other receipts</th><th>Less net amounts 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 (nat) 6/</th><th>Transfers to trust accounts, etc. 7/</th></tr><tr><td>1934</td><td>3,116</td><td>2,041</td><td>313</td><td>162</td><td>-</td><td>3,116</td><td>6,011</td><td>4,908</td><td>531</td><td>496</td><td>77</td><td>2,896</td><td>360</td></tr><tr><td>1935</td><td>3,800</td><td>3,278</td><td>343</td><td>179</td><td>-</td><td>3,800</td><td>7,010</td><td>5,900</td><td>689</td><td>345</td><td>76</td><td>3,209</td><td>574</td></tr><tr><td>1936</td><td>4,115</td><td>3,513</td><td>387</td><td>215</td><td>-</td><td>4,116</td><td>8,666</td><td>5,935</td><td>900</td><td>11</td><td>1,820</td><td>4,550</td><td>403</td></tr><tr><td>1937</td><td>5,294</td><td>4,597</td><td>486</td><td>210</td><td>265</td><td>5,029</td><td>8,177</td><td>6,437</td><td>929</td><td>204</td><td>608</td><td>3,149</td><td>104</td></tr><tr><td>1938</td><td>6,242</td><td>5,674</td><td>359</td><td>208</td><td>387</td><td>5,855</td><td>7,239</td><td>5,804</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>3-9</td><td>373 2/</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 9/</td><td>661</td><td>7,607</td><td>12,711</td><td>6,215 10/</td><td>6,301</td><td>-136 10/</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 9/</td><td>859</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 9/11</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-September</td><td>2,528</td><td>2,476</td><td>20</td><td>31 2/</td><td>1</td><td>2,527</td><td>5,931</td><td>544</td><td>5,384</td><td>-3</td><td>5</td><td>3,404</td><td>•</td></tr><tr><td>October</td><td>648</td><td>603</td><td>24</td><td>20</td><td>41</td><td>607</td><td>5,937</td><td>401</td><td>5,481</td><td>•</td><td>56</td><td>5,331</td><td>•</td></tr><tr><td>November</td><td>830</td><td>784</td><td>23</td><td>22</td><td>229</td><td>601</td><td>6,363</td><td>320</td><td>6,042</td><td>-2</td><td>3</td><td>5,761</td><td>•</td></tr><tr><td>December</td><td>2,702</td><td>2,649</td><td>24</td><td>28</td><td>1</td><td>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>1,396</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><tr><td>July</td><td>2,048</td><td>1,815</td><td>33</td><td>201</td><td>41</td><td>2,007</td><td>7,112</td><td>337</td><td>6,432</td><td>-1</td><td>344</td><td>5,105</td><td>•</td></tr><tr><td>August</td><td>3,005</td><td>2,602</td><td>39</td><td>364</td><td>284</td><td>2,721</td><td>7,617</td><td>365</td><td>7,232</td><td>5</td><td>15</td><td>4,896</td><td>•</td></tr><tr><td>September</td><td>5,448</td><td>5,160</td><td>31</td><td>257</td><td>•</td><td>5,447</td><td>7,535</td><td>583</td><td>6,952</td><td>-2</td><td>2</td><td>2,087</td><td>•</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Excludes amounts for public debt retirement which are chargeable to the sinking fund, etc. under special provisions of law.
2/ For further details, see Table 2.
3/ For 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.
3/ 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. Such recoveries totaled $54 millions in the fiscal year 1940; $319 millions in the fiscal year 1941; $18 millions in the fiscal year 1942, and $10 millions in the fiscal year 1943, recovered in September 1942.
10/ Receipts from reductions in capital stock and paid-in surplus available to be reissued under existing law are included as negative items under expenditures. Such reductions totaled $160 millions for general expenditures and $155 millions for revolving funds during the fiscal year 1941.
11/ Includes in excess of $450 millions deposited by the War and Navy Departments and the U. S. Maritime Commission as a result of renegotiation of war contracts.
Table 2.- Analysis of Receipts from Internal Revenue
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th colspan="2">Income and profits taxes</th><th colspan="3">Employment taxes</th><th rowspan="2">Miscellaneous internal revenue</th><th rowspan="2">Agricultural adjustment taxes</th></tr><tr><th>Total</th><th>Withheld by employers (Current Tax Payment Act of 1943)</th><th>Other 2/</th><th>Total</th><th>Social security taxes 3/ 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></tr><tr><td>1934</td><td>2,641</td><td>818</td><td>-</td><td>818</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>1,099</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>1,427</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>-</td><td>2,163</td><td>253</td><td>194</td><td>58</td><td>2,181</td><td>-</td></tr><tr><td>1938</td><td>5,674</td><td>2,640</td><td>-</td><td>2,640</td><td>755</td><td>514</td><td>90</td><td>150</td><td>2,279</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>-</td><td>2,189</td><td>740</td><td>530</td><td>101</td><td>109</td><td>2,232</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>-</td><td>2,125</td><td>833</td><td>604</td><td>108</td><td>121</td><td>2,345</td></tr><tr><td>1941</td><td>7,362</td><td>3,470</td><td>-</td><td>3,470</td><td>925</td><td>691</td><td>98</td><td>137</td><td>2,967</td></tr><tr><td>1942</td><td>12,993</td><td>7,960</td><td>-</td><td>7,960</td><td>1,186</td><td>896</td><td>120</td><td>170</td><td>3,247</td></tr><tr><td>1943</td><td>22,144</td><td>16,094</td><td>-</td><td>16,094</td><td>1,498</td><td>1,130</td><td>158</td><td>209</td><td>5,553</td></tr><tr><td>1942-September</td><td>2,476</td><td>2,126</td><td>-</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>-</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>-</td><td>199</td><td>248</td><td>231</td><td>9</td><td>8</td><td>337</td><td>-</td></tr><tr><td>December</td><td>2,649</td><td>1,972</td><td>-</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>-</td><td>306</td><td>52</td><td>37</td><td>14</td><td>1</td><td>365</td><td>-</td></tr><tr><td>February</td><td>1,075</td><td>380</td><td>-</td><td>380</td><td>343</td><td>237</td><td>59</td><td>7</td><td>352</td><td>-</td></tr><tr><td>March</td><td>5,154</td><td>4,732</td><td>-</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>-</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>-</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>-</td><td>3,803</td><td>55</td><td>3</td><td>3</td><td>49</td><td>353</td><td>-</td></tr><tr><td>July</td><td>1,815</td><td>1,255</td><td>19</td><td>1,236</td><td>48</td><td>44</td><td>3</td><td>1</td><td>512</td><td>-</td></tr><tr><td>August</td><td>2,602</td><td>1,564</td><td>548</td><td>1,016</td><td>310</td><td>287</td><td>8</td><td>15</td><td>729</td><td>-</td></tr><tr><td>September</td><td>5,160</td><td>4,765</td><td>674</td><td>4,091</td><td>50</td><td>3</td><td>1</td><td>46</td><td>344</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 collections pursuant to Revenue Act of 1942.
3/ For the period prior to September 1939, the data in the columns as titled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
16
Budgetary Receipts and Expenditures - (Continued)
Table 3.- Analysis of General Expenditures
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Veterans' Administration 1/ 2/</th><th>Public Works 2/ 3/</th><th>Aid to agriculture 2/ 4/</th><th>Social Security program 2/ 5/</th><th colspan="2">Direct and work relief</th><th>Civilian Conservation Corps</th><th>Interest on the public debt</th><th>Other departmental 8/</th><th>Other general expenditures 9/</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th>Works 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></tr><tr><td>1934</td><td>4,908</td><td>507</td><td>549</td><td>429</td><td>-</td><td>-</td><td>1,513</td><td>332</td><td>757</td><td>313</td><td>509</td></tr><tr><td>1935</td><td>5,900</td><td>557</td><td>679</td><td>930</td><td>-</td><td>-</td><td>1,831</td><td>436</td><td>821</td><td>364</td><td>283</td></tr><tr><td>1936</td><td>5,935</td><td>578</td><td>685</td><td>966</td><td>29</td><td>1,264</td><td>495</td><td>486</td><td>749</td><td>424</td><td>258</td></tr><tr><td>1937</td><td>6,437</td><td>581</td><td>803</td><td>988</td><td>184</td><td>1,896</td><td>-1</td><td>386</td><td>866</td><td>510</td><td>223</td></tr><tr><td>1938</td><td>5,864</td><td>582</td><td>670</td><td>866</td><td>335</td><td>1,472</td><td>4</td><td>326</td><td>926</td><td>481</td><td>200</td></tr><tr><td>1939</td><td>7,221</td><td>557</td><td>900</td><td>1,237</td><td>347</td><td>2,240</td><td>2</td><td>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-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>40</td><td>28</td><td>-</td><td>-</td><td>28</td><td>45</td><td>11</td></tr><tr><td>December</td><td>654</td><td>47</td><td>52</td><td>89</td><td>34</td><td>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><tr><td>July</td><td>337</td><td>44</td><td>38</td><td>66</td><td>59</td><td>4</td><td>-</td><td>-</td><td>68</td><td>42</td><td>15</td></tr><tr><td>August</td><td>365</td><td>49</td><td>56</td><td>65</td><td>53</td><td>1</td><td>-</td><td>-</td><td>46</td><td>77</td><td>19</td></tr><tr><td>September</td><td>583</td><td>52</td><td>43</td><td>71</td><td>33</td><td>1</td><td>-</td><td>-</td><td>311</td><td>55</td><td>16</td></tr></table>
Source: Daily Treasury Statements.
1/ Less than $500,000.
2/ Includes public works undertaken by the Veterans' Administration.
Does not include expenditures for (1) revolving funds or (2) transfers 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 fol-
law 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 further details see "Treasury Bulletin" for June 1943, page 9, footnote 12/.
17
Budgetary Receipts and Expenditures - (Continued)
Table 4.- Analysis of Expenditures for War Activities
(In millions of dollars)
<table><tr><th>Piscal year or month</th><th>Total</th><th>War Department</th><th>Neary Department</th><th>Total miscellaneous war activities</th><th>Agriculture Department</th><th>Federal Security Agency</th><th>Federal Works Agency</th><th>National Housing Agency</th><th>Selective Service (administrative)</th><th>Treasury Department</th><th>United States Maritime Commission</th><th>War Shipping Administration</th><th>Aid to China</th><th>Other war activities expenditures</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>529</td><td>-12</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-12</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>929</td><td>378</td><td>557</td><td>-6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-6</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>1,029</td><td>432</td><td>596</td><td>1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>1,206</td><td>490</td><td>673</td><td>44</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>44</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1940</td><td>1,657</td><td>667</td><td>892</td><td>99</td><td>3</td><td>62</td><td>-</td><td>45</td><td>18</td><td>24</td><td>99</td><td>-</td><td>-</td><td>108</td></tr><tr><td>1941</td><td>6,301</td><td>3,678</td><td>2,313</td><td>310</td><td>696</td><td>111</td><td>62</td><td>297</td><td>33</td><td>519</td><td>51</td><td>-</td><td>200</td><td>382</td></tr><tr><td>1942</td><td>26,011</td><td>14,070</td><td>8,580</td><td>3,362</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>1943</td><td>72,109</td><td>42,265</td><td>20,838</td><td>8,955</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1942-September</td><td>5,384</td><td>3,519</td><td>1,294</td><td>572</td><td>94</td><td>4</td><td>13</td><td>45</td><td>5</td><td>102</td><td>141</td><td>113</td><td>-</td><td>56</td></tr><tr><td>October</td><td>5,481</td><td>3,417</td><td>1,596</td><td>457</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>3,995</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>313</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><tr><td>July</td><td>6,432</td><td>3,808</td><td>1,998</td><td>726</td><td>12</td><td>8</td><td>24</td><td>72</td><td>5</td><td>95</td><td>319</td><td>105</td><td>-</td><td>85</td></tr><tr><td>August</td><td>7,232</td><td>4,219</td><td>2,037</td><td>976</td><td>180</td><td>16</td><td>27</td><td>68</td><td>5</td><td>118</td><td>361</td><td>119</td><td>-</td><td>81</td></tr><tr><td>September</td><td>6,952</td><td>4,036</td><td>1,909</td><td>1,007</td><td>239</td><td>11</td><td>24</td><td>50</td><td>5</td><td>114</td><td>366</td><td>130</td><td>-</td><td>69</td></tr></table>
Source: Daily Treasury Statements.
Back Figures: For monthly figures commencing July 1940, see "Treasury Bulletin" for May 1943, page 7.
* Less than $500,000.
1/ Includes war public housing functions.
2/ Includes emergency ship construction, beginning March 1941.
Similar items for periods prior to fiscal year 1941 are classified under Other departmental and Other general expenditures in Table 3. Includes 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.
Table 5.- Analysis of Expenditures for (1) Revolving Funds and (2) Transfers to Trust Accounts, Etc.
(In millions of dollars)
<table><tr><th>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></th><th>Total</th><th>Aid to agriculture 2/</th><th>Public works 3/</th><th>Total</th><th>Veterans' Adm'nistration 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>5</td></tr><tr><td>1936</td><td>11</td><td>-33</td><td>14</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 1/</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-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><tr><td>July</td><td>-1</td><td>4</td><td>-5</td><td>344</td><td>1</td><td>161</td><td>177</td><td>-1</td><td>6</td></tr><tr><td>August</td><td>5</td><td>*</td><td>5</td><td>15</td><td>4</td><td>12</td><td>-</td><td>-</td><td>1</td></tr><tr><td>September</td><td>-2</td><td>-2</td><td>*</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Additional transactions on Aid to agriculture and Public works are shown in Table 3.
2/ Farm Credit Administration.
3/ Public Works Administration.
4/ Comprises Adjusted Service Certificate Fund and the National Service Life Insurance Fund, administered by the Veterans' Administration.
5/ Includes railroad retirement and railroad unemployment activities. For further explanations see tables which follow on Social Security program.
6/ 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.
18
Budgetary Receipts and Expenditures - (Continued)
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 colspan="14">Net budgetary receipts 1/</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>160</td><td>279</td><td>299</td><td>421</td><td>235</td><td>234</td><td>434</td><td>3,857</td></tr><tr><td>1936</td><td>228</td><td>218</td><td>752</td><td>231</td><td>256</td><td>529</td><td>294</td><td>343</td><td>499</td><td>272</td><td>233</td><td>517</td><td>4,372</td></tr><tr><td>1937</td><td>239</td><td>230</td><td>967</td><td>318</td><td>290</td><td>828</td><td>367</td><td>412</td><td>747</td><td>292</td><td>286</td><td>823</td><td>5,798</td></tr><tr><td>1938</td><td>294</td><td>308</td><td>916</td><td>262</td><td>373</td><td>774</td><td>273</td><td>449</td><td>678</td><td>300</td><td>350</td><td>672</td><td>5,650</td></tr><tr><td>1939</td><td>271</td><td>367</td><td>687</td><td>213</td><td>347</td><td>557</td><td>265</td><td>372</td><td>676</td><td>279</td><td>364</td><td>521</td><td>4,918</td></tr><tr><td>1940</td><td>315</td><td>444</td><td>799</td><td>304</td><td>400</td><td>649</td><td>331</td><td>447</td><td>711</td><td>333</td><td>362</td><td>740</td><td>5,834</td></tr><tr><td>1941</td><td>340</td><td>541</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>413</td><td>397</td><td>1,135</td><td>445</td><td>564</td><td>1,212</td><td>8,849</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>2,007</td><td>2,721</td><td>5,447</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Budgetary expenditures 2/</td></tr><tr><td>1934</td><td>695</td><td>634</td><td>573</td><td>643</td><td>484</td><td>643</td><td>611</td><td>561</td><td>544</td><td>701</td><td>559</td><td>636</td><td>7,284</td></tr><tr><td>1935</td><td>482</td><td>528</td><td>570</td><td>599</td><td>527</td><td>693</td><td>561</td><td>424</td><td>570</td><td>632</td><td>489</td><td>607</td><td>6,682</td></tr><tr><td>1936</td><td>521</td><td>480</td><td>636</td><td>631</td><td>686</td><td>2,427</td><td>656</td><td>574</td><td>676</td><td>677</td><td>564</td><td>716</td><td>9,244</td></tr><tr><td>1937</td><td>539</td><td>546</td><td>766</td><td>695</td><td>514</td><td>1,253</td><td>635</td><td>517</td><td>632</td><td>565</td><td>457</td><td>635</td><td>7,754</td></tr><tr><td>1938</td><td>492</td><td>474</td><td>705</td><td>631</td><td>566</td><td>930</td><td>725</td><td>645</td><td>718</td><td>737</td><td>646</td><td>830</td><td>8,097</td></tr><tr><td>1939</td><td>656</td><td>612</td><td>820</td><td>730</td><td>694</td><td>895</td><td>764</td><td>774</td><td>741</td><td>721</td><td>648</td><td>832</td><td>8,885</td></tr><tr><td>1940</td><td>712</td><td>668</td><td>822</td><td>783</td><td>647</td><td>887</td><td>818</td><td>706</td><td>759</td><td>869</td><td>817</td><td>1,172</td><td>9,657</td></tr><tr><td>1941</td><td>1,111</td><td>1,075</td><td>1,399</td><td>1,315</td><td>1,141</td><td>1,528</td><td>1,598</td><td>1,529</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,542</td><td>12,053</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>7,435</td><td>8,327</td><td>7,112</td><td>7,617</td><td>7,535</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="14">Net budgetary deficit 3/</td></tr><tr><td>1934</td><td>484</td><td>428</td><td>153</td><td>461</td><td>247</td><td>252</td><td>393</td><td>275</td><td>95</td><td>441</td><td>312</td><td>251</td><td>3,792</td></tr><tr><td>1935</td><td>279</td><td>314</td><td>-31</td><td>371</td><td>281</td><td>230</td><td>282</td><td>125</td><td>149</td><td>397</td><td>255</td><td>173</td><td>2,825</td></tr><tr><td>1936</td><td>293</td><td>262</td><td>-116</td><td>400</td><td>430</td><td>1,898</td><td>362</td><td>231</td><td>177</td><td>405</td><td>331</td><td>199</td><td>4,872</td></tr><tr><td>1937</td><td>300</td><td>316</td><td>-200</td><td>377</td><td>224</td><td>425</td><td>268</td><td>105</td><td>-115</td><td>273</td><td>171</td><td>-188</td><td>1,956</td></tr><tr><td>1938</td><td>198</td><td>166</td><td>-212</td><td>369</td><td>193</td><td>156</td><td>451</td><td>195</td><td>40</td><td>437</td><td>296</td><td>157</td><td>2,447</td></tr><tr><td>1939</td><td>385</td><td>245</td><td>132</td><td>517</td><td>348</td><td>339</td><td>499</td><td>402</td><td>65</td><td>442</td><td>284</td><td>311</td><td>3,957</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>5,105</td><td>4,896</td><td>2,087</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.
19
BUDGETARY RECEIPTS AND EXPENDITURES
20
Receipts and Expenditures for Trust Accounts, Increment on Gold, Etc.
Table 1.- Trust Funds
(in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust funds, net receipts (+) or net expenditures (-)</th><th colspan="2">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="2">Unemployment Trust Fund</th><th colspan="2">Railroad Retirement Account</th><th colspan="2">Other trust accounts 1/</th></tr><tr><th></th><th></th><th>Net</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>1936</td><td>+24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+24</td><td>233</td><td>210</td></tr><tr><td>1935</td><td>+64</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+64</td><td>301</td><td>237</td></tr><tr><td>1936</td><td>+34</td><td>-</td><td>-</td><td>-</td><td>19</td><td>19</td><td>-</td><td>+34</td><td>2,053</td><td>2,020</td></tr><tr><td>1937</td><td>+19</td><td>-</td><td>267</td><td>267</td><td>-</td><td>294</td><td>294</td><td>+20</td><td>858</td><td>838</td></tr><tr><td>1938</td><td>+11</td><td>+1</td><td>402</td><td>401</td><td>+12</td><td>763</td><td>751</td><td>+2</td><td>148</td><td>146</td><td>+2</td><td>323</td><td>327</td></tr><tr><td>1939</td><td>+29</td><td>+1</td><td>530</td><td>529</td><td>+1</td><td>838</td><td>837</td><td>+2</td><td>109</td><td>107</td><td>+24</td><td>349</td><td>325</td></tr><tr><td>1940</td><td>+37</td><td>+3</td><td>580</td><td>577</td><td>+1</td><td>959</td><td>957</td><td>+2</td><td>123</td><td>125</td><td>+35</td><td>366</td><td>331</td></tr><tr><td>1941</td><td>+37</td><td>+10</td><td>717</td><td>707</td><td>+4</td><td>1,114</td><td>1,118</td><td>+11</td><td>127</td><td>116</td><td>+20</td><td>409</td><td>389</td></tr><tr><td>1942</td><td>+66</td><td>+9</td><td>940</td><td>931</td><td>•</td><td>1,244</td><td>1,243</td><td>•</td><td>144</td><td>144</td><td>+57</td><td>512</td><td>455</td></tr><tr><td>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>September</td><td>-227</td><td>-229</td><td>1</td><td>230</td><td>-1</td><td>29</td><td>30</td><td>•</td><td>•</td><td>•</td><td>+2</td><td>68</td><td>66</td></tr><tr><td>October</td><td>+60</td><td>+42</td><td>42</td><td>•</td><td>+1</td><td>50</td><td>54</td><td>•</td><td>34</td><td>34</td><td>+22</td><td>64</td><td>42</td></tr><tr><td>November</td><td>+274</td><td>+227</td><td>229</td><td>2</td><td>+40</td><td>243</td><td>203</td><td>•</td><td>•</td><td>•</td><td>+6</td><td>54</td><td>48</td></tr><tr><td>December</td><td>-290</td><td>-273</td><td>2</td><td>274</td><td>-36</td><td>73</td><td>109</td><td>•</td><td>•</td><td>•</td><td>+19</td><td>66</td><td>48</td></tr><tr><td>1943-January</td><td>+24</td><td>+33</td><td>35</td><td>2</td><td>-2</td><td>40</td><td>42</td><td>•</td><td>34</td><td>34</td><td>-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>371</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><tr><td>July</td><td>+92</td><td>+40</td><td>41</td><td>1</td><td>+1</td><td>44</td><td>42</td><td>-1</td><td>161</td><td>165</td><td>+55</td><td>316</td><td>261</td></tr><tr><td>August</td><td>+275</td><td>+270</td><td>284</td><td>14</td><td>+1</td><td>313</td><td>308</td><td>•</td><td>•</td><td>•</td><td>+1</td><td>101</td><td>100</td></tr><tr><td>September</td><td>-265</td><td>-289</td><td>1</td><td>289</td><td>-5</td><td>31</td><td>36</td><td>•</td><td>•</td><td>•</td><td>+28</td><td>116</td><td>87</td></tr></table>
Source: Daily Treasury Statements.
Less than $500.00
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">Seignorage on silver</th><th colspan="3">Miscellaneous funds and accounts 1/</th></tr><tr><th></th><th>Total all transactions</th><th>Issuance of obligations 2/</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>-2</td><td>-2</td></tr><tr><td>1940</td><td>+34</td><td>+288</td><td>-254</td><td>-5</td><td></td><td></td><td>+19</td><td>49</td><td>-</td><td>+16</td><td>13</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>214</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-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>-3</td></tr><tr><td>December</td><td>-548</td><td>-5</td><td>-543</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+14</td><td>33</td><td>-11</td></tr><tr><td>1943-January</td><td>-186</td><td>-8</td><td>-178</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+27</td><td>8</td><td>-19</td></tr><tr><td>February</td><td>-370</td><td>-25</td><td>-345</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+26</td><td>5</td><td>-21</td></tr><tr><td>March</td><td>-300</td><td>-11</td><td>-289</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+11</td><td></td><td>-11</td></tr><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>+82</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><tr><td>July</td><td>-726</td><td>-381</td><td>-345</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>-1</td><td>-1</td><td>0</td></tr><tr><td>August</td><td>-148</td><td>-3</td><td>-145</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+4</td><td></td><td>-4</td></tr><tr><td>September</td><td>-146</td><td>+22</td><td>-168</td><td></td><td></td><td></td><td>-</td><td>-</td><td>-</td><td>+2</td><td></td><td>-2</td></tr></table>
Source: Daily Treasury Statement
Less than $500.00
1/ Comprises FMA revolving fund, and special deposits (net). Also includes Agricultural Marketing Administration commodity
food stamp transactions.
2/ Net receipts in this column constitute net sales, and net expenditures constitute net redemptions of obligations.
3/ Details not available.
21
Means of Financing Cash Requirements
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="4">Amount required to be financed</th><th colspan="3">Means of financing</th></tr><tr><th>Total amount required to be financed</th><th>Net budgetary 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. 3/</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>840</td><td>-</td><td>5,390</td><td>5,078</td><td>-</td><td>312</td></tr><tr><td>1937</td><td>3,149</td><td>3,149</td><td>-</td><td>-</td><td>3,149</td><td>2,646</td><td>128</td><td>374</td></tr><tr><td>1938</td><td>1,384</td><td>1,384</td><td>-</td><td>-</td><td>1,384</td><td>740</td><td>338</td><td>306</td></tr><tr><td>1939</td><td>4,164</td><td>3,542</td><td>622</td><td>-</td><td>4,164</td><td>3,275</td><td>-</td><td>890</td></tr><tr><td>1940</td><td>3,611</td><td>3,611</td><td>-</td><td>-</td><td>3,611</td><td>2,528</td><td>947</td><td>136</td></tr><tr><td>1941</td><td>5,994</td><td>5,103</td><td>742</td><td>148</td><td>5,994</td><td>5,994</td><td>-</td><td>-</td></tr><tr><td>1942</td><td>23,461</td><td>19,598</td><td>358</td><td>3,506</td><td>23,461</td><td>23,461</td><td>-</td><td>-</td></tr><tr><td>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-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><tr><td>July</td><td>5,740</td><td>5,105</td><td>-</td><td>635</td><td>5,740</td><td>4,828</td><td>912</td><td>-</td></tr><tr><td>August</td><td>4,896</td><td>4,896</td><td>-</td><td>-</td><td>4,896</td><td>2,534</td><td>2,231</td><td>131</td></tr><tr><td>September</td><td>14,291</td><td>2,087</td><td>11,794</td><td>410</td><td>14,291</td><td>14,291</td><td>-</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.
22
Social Security Program
Section I.- Budgetary 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 1/</th><th rowspan="2">Set 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>1935</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-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><tr><td>July</td><td>46.8</td><td>43.6</td><td>3.2</td><td>40.8</td><td>6.0</td></tr><tr><td>August</td><td>294.7</td><td>286.6</td><td>8.1</td><td>283.8</td><td>10.9</td></tr><tr><td>September</td><td>4.1</td><td>3.0</td><td>1.1</td><td>.2</td><td>3.9</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th colspan="10">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>Old-age assistance</th><th>Aid to dependent children</th><th>Aid to the blind</th><th>Unemployment compensation administration</th><th>Public Health Service</th><th>Maternal and child health services</th><th>Department of Labor Services for crippled children</th><th>Child welfare services</th><th>Office for Emergency Management Var 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>-</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>41.0 6/</td><td>195.5</td></tr><tr><td>1938</td><td>332.5</td><td>20.0</td><td>271.5</td><td>182.2</td><td>25.5</td><td>5.2</td><td>41.9</td><td>8.9</td><td>3.8</td><td>2.7</td><td>1.4</td><td>-</td><td>115.1</td><td>215.1</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>-</td><td>1.8</td><td>209.7</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>-</td><td>2.5</td><td>322.5</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>-</td><td>2.6</td><td>357.8</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>-</td><td>3.5</td><td>341.3</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>20.7</td><td>2.8</td><td>-</td></tr><tr><td>1942-September</td><td>21.2</td><td>2.5</td><td>18.5</td><td>11.0</td><td>2.9</td><td>.4</td><td>3.5</td><td>*</td><td>.5</td><td>.3</td><td>*</td><td>-</td><td>.3</td><td>18.1</td></tr><tr><td>October</td><td>63.2</td><td>2.8</td><td>60.1</td><td>35.2</td><td>8.2</td><td>1.0</td><td>12.4</td><td>2.4</td><td>.5</td><td>.3</td><td>.3</td><td>-</td><td>.3</td><td>58.0</td></tr><tr><td>November</td><td>38.9</td><td>2.3</td><td>36.4</td><td>24.8</td><td>6.4</td><td>.7</td><td>3.0</td><td>*</td><td>.8</td><td>.5</td><td>.1</td><td>-</td><td>.2</td><td>27.7</td></tr><tr><td>December</td><td>34.8</td><td>2.7</td><td>31.9</td><td>24.9</td><td>2.7</td><td>.4</td><td>2.0</td><td>-</td><td>.5</td><td>.2</td><td>*</td><td>1.3</td><td>.2</td><td>31.4</td></tr><tr><td>1943-January</td><td>58.9</td><td>2.6</td><td>56.1</td><td>30.9</td><td>6.9</td><td>.9</td><td>10.8</td><td>2.3</td><td>.6</td><td>.3</td><td>.3</td><td>-</td><td>.2</td><td>43.5</td></tr><tr><td>February</td><td>29.3</td><td>2.8</td><td>26.3</td><td>16.4</td><td>4.4</td><td>.4</td><td>.2</td><td>*</td><td>.6</td><td>.5</td><td>.1</td><td>3.8</td><td>.2</td><td>71.6</td></tr><tr><td>March</td><td>43.4</td><td>3.3</td><td>39.9</td><td>27.2</td><td>3.2</td><td>.8</td><td>1.7</td><td>.1</td><td>.2</td><td>.1</td><td>*</td><td>6.5</td><td>.2</td><td>38.3</td></tr><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>.2</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>.3</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>.3</td><td>10.7</td></tr><tr><td>July</td><td>59.9</td><td>2.8</td><td>56.8</td><td>41.1</td><td>7.1</td><td>1.2</td><td>3.6</td><td>2.2</td><td>.3</td><td>.1</td><td>*</td><td>1.0</td><td>.3</td><td>53.8</td></tr><tr><td>August</td><td>52.6</td><td>2.5</td><td>49.8</td><td>32.8</td><td>6.5</td><td>.9</td><td>7.0</td><td>1.1</td><td>.7</td><td>.4</td><td>.3</td><td>.2</td><td>.3</td><td>41.7</td></tr><tr><td>September</td><td>32.9</td><td>2.9</td><td>29.7</td><td>25.3</td><td>2.8</td><td>.5</td><td>*</td><td>*</td><td>.6</td><td>.4</td><td>*</td><td>.1</td><td>.3</td><td>29.0</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $50,000. 
1/ Formerly Title VIII of the Social Security Act. 
2/ Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See Table 3 of Section 1). 
3/ Prior to January 1, 1940, figures represent amounts transferred to the Old-Age Reserve Account. From January 1 to July 1, 1940 "transfers" were made to the Federal Old-Age and Survivors Insurance Trust Fund. Subsequently receipts have been deposited in the General Fund of the Treasury and "appropriated" directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to cover administrative expenses, which are shown as expenditures in
Section II, Table 1. 
Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency. 
Covered by appropriations by Congress. 
Second Deficiency Appropriation Act, Fiscal year 1938, approved June 25, 1938, carried an appropriation of $40,561,886 for making refund to certain States of portions of Federal employers' tax for 1936 collected under the Social Security Act.
23
Social Security Program - (Continued)
Section I.- Budgetary Receipts and Expenditures - (Continued)
Table 2.- Railroad Retirement Act
(In million of dollar)
<table><tr><th>Fiscal year or month</th><th>Receipts Carriers' Taxing Act of 1937</th><th>Total</th><th>Expenditures Administrative expenses 1/</th><th>Expenditures Transferee to Railroad Retirement Account (trust account)</th><th>Refund 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-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><tr><td>July</td><td>1.1</td><td>161.0</td><td>.2</td><td>160.7</td><td>*</td><td>159.8</td></tr><tr><td>August</td><td>15.0</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-14.8</td></tr><tr><td>September</td><td>46.2</td><td>.3</td><td>.3</td><td>-</td><td>*</td><td>-45.9</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $50,000. 
1/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Railroad
Retirement Act. 2/ Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Receipts Railroad unemployment insurance contributions 2/</th><th colspan="3">Expenditures</th><th rowspan="2">Excess of expenditures 5/</th></tr><tr><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-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><tr><td>July</td><td>*</td><td>.2</td><td>.2</td><td>-</td><td>.2</td></tr><tr><td>August</td><td>.1</td><td>11.9</td><td>.2</td><td>11.7</td><td>11.8</td></tr><tr><td>September</td><td>2.5</td><td>.2</td><td>.2</td><td>-</td><td>-2.3</td></tr></table>
Source: 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 1935 - $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.
24
Social Security Program - (Continued) Section II.- Statements of Trust Account
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 2/</th><th>Total investments</th><th>Unexpended balance in General Fund</th><th>Unexpended balance in disbursing officer's account</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>267.3</td><td>265.0</td><td>2.3</td><td>-</td><td>-</td><td>-</td><td>267.2</td><td>267.1</td><td>1.1</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>1.9</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>6.1</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>10.9</td></tr><tr><td>1942</td><td>3,502.8</td><td>3,288.8</td><td>214.1</td><td>275.6</td><td>209.8</td><td>65.9</td><td>3,227.2</td><td>3,201.6</td><td>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>4,236.8</td><td>24.5</td></tr><tr><td>1943-July</td><td>4,764.3</td><td>4,462.8</td><td>301.5</td><td>469.0</td><td>372.8</td><td>96.2</td><td>4,295.4</td><td>4,223.8</td><td>47.7</td></tr><tr><td>August</td><td>5,051.0</td><td>4,749.5</td><td>301.5</td><td>485.7</td><td>386.7</td><td>99.0</td><td>4,565.2</td><td>4,223.8</td><td>23.8</td></tr><tr><td>September</td><td>5,054.5</td><td>4,752.5</td><td>302.0</td><td>502.8</td><td>401.0</td><td>101.9</td><td>4,551.7</td><td>4,498.9</td><td>28.3</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>24.5</td><td></td></tr></table>
Source: Daily Treasury Statements. Less than $50,000. 1/ Includes transactions effected under the predecessor Old-Age
2/ Reserve Account. Under Section 201 (f) of the Social Security Act amendments of 1939.
Table 2.- Railroad Retirement Act
(Cumulative from organisation - In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="3">Receipts</th><th rowspan="2">Expenditures Benefit payments</th><th colspan="4">Balance</th></tr><tr><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total investments</th><th>Unexpended balance in General Fund</th><th>Unexpended balance 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>10.3</td><td>1.3</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>12.9</td></tr><tr><td>1943-July</td><td>1,134.2</td><td>1,116.9</td><td>17.4</td><td>687.7</td><td>446.5</td><td>332.0</td><td>102.1</td><td>12.5</td></tr><tr><td>August</td><td>1,134.3</td><td>1,116.9</td><td>17.4</td><td>698.8</td><td>435.5</td><td>321.0</td><td>102.0</td><td>12.5</td></tr><tr><td>September</td><td>1,134.3</td><td>1,116.9</td><td>17.5</td><td>709.8</td><td>424.5</td><td>310.0</td><td>102.1</td><td>12.4</td></tr></table>
Source: Daily Treasury Statements. Less than $50,000.
Table 3.- Unemployment Trust Fund
(Cumulative from organisation - in millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="5">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Total receipts</th><th>State unemployment insurance activities Deposits by States</th><th>Railroad unemployment insurance contributions</th><th>Transfers from Railroad Unemployment Insurance Administration Fund</th><th>Transfers from Railroad Unemployment Insurance Administration Fund</th><th>Total expenditures</th><th>State unemployment insurance activities With-drawals by States</th><th>Transfers to Railroad Unemployment Insurance Account</th><th>Railroad Unemployment Insurance Account</th><th>Total</th><th>Investments</th><th>Unexpended balance In General Fund (Special Deposit Account)</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>1.0</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>-</td><td>2.8</td><td>-</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>-</td><td>18.0</td><td>192.0</td><td>-</td><td>-</td><td>824.2</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>-</td><td>41.8</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>-</td><td>82.6</td><td>1,116.7</td><td>1.8</td><td>14.6</td><td>1,724.9</td><td>1,710.0</td><td>13.4</td><td>1.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>105.9</td><td>7.5</td><td>131.5</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>198.9</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>7.3</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>281.4</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-July</td><td>6,657.7</td><td>5,978.7</td><td>274.4</td><td>105.9</td><td>17.4</td><td>281.4</td><td>2,096.6</td><td>105.9</td><td>43.3</td><td>4,411.9</td><td>4,405.0</td><td>5.4</td><td>1.4</td></tr><tr><td>August</td><td>6,970.3</td><td>6,278.4</td><td>275.6</td><td>105.9</td><td>29.1</td><td>281.4</td><td>2,101.7</td><td>105.9</td><td>43.3</td><td>4,719.3</td><td>4,708.0</td><td>10.6</td><td>1.7</td></tr><tr><td>September</td><td>7,001.5</td><td>6,287.2</td><td>297.9</td><td>105.9</td><td>29.1</td><td>281.4</td><td>2,105.9</td><td>105.9</td><td>43.4</td><td>4,746.3</td><td>4,740.0</td><td>5.7</td><td>1.7</td></tr></table>
Source: Daily Treasury Statements. 
* Less than $50,000.
1/ Excludes advance of $15 millions from the Treasury and subsequent repayment, both taking place in the fiscal year 1940.
2/ Represents 90% of contributions under the Railroad Unemployment Insurance Act; the remaining 10% is used for administrative expenses. (See Section I, Table 3.)
2/ 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.
25
Cash Income and Outgo of the Treasury, by Major Classifications
(in millions of dollars)
<table><tr><th></th><th colspan="4">1942</th><th colspan="9">1943</th><th>Sept.</th></tr><tr><th></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><th>July</th><th>Aug.</th><th></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>Budgetary:</td><td></td><td></td><td></td><td></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>2,126</td><td>206</td><td>199</td><td>1.72</td><td>306</td><td>380</td><td>4,732</td><td>1,000</td><td>940</td><td>3,803</td><td>1,255</td><td>1,564</td><td>4,765</td></tr><tr><td>Employment taxes.</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><td>48</td><td>310</td><td>50</td></tr><tr><td>Miscellaneous internal revenue.</td><td>309</td><td>350</td><td>337</td><td>630</td><td>365</td><td>352</td><td>374</td><td>314</td><td>359</td><td>357</td><td>512</td><td>729</td><td>344</td></tr><tr><td>Customs.</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><td>33</td><td>39</td><td>31</td></tr><tr><td>Other.</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><td>176</td><td>363</td><td>257</td></tr><tr><td>Subtotal.</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><td>2,023</td><td>3,004</td><td>5,447</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>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><td>144</td><td>301</td><td>31</td></tr><tr><td>Trust accounts 2/.</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><td>131</td><td>97</td><td>110</td></tr><tr><td>Subtotal.</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><td>175</td><td>398</td><td>142</td></tr><tr><td>Total cash income.</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><td>2,198</td><td>3,402</td><td>5,589</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>Budgetary:</td><td></td><td></td><td></td><td></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>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><td>6,432</td><td>7,232</td><td>6,952</td></tr><tr><td>Veterans' Administration.</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><td>44</td><td>49</td><td>52</td></tr><tr><td>Public Works 3/.</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><td>33</td><td>61</td><td>43</td></tr><tr><td>Aid to agriculture 4/.</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><td>72</td><td>65</td><td>69</td></tr><tr><td>Social Security program 5/.</td><td>22</td><td>64</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><td>59</td><td>53</td><td>33</td></tr><tr><td>Work Projects Administration.</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><td>4</td><td>1</td><td>1</td></tr><tr><td>Civilian Conservation Corps.</td><td>1</td><td>*</td><td>28</td><td>218</td><td>2</td><td>*</td><td>*</td><td>21</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td></tr><tr><td>Interest on the public debt 6/.</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><td>45</td><td>32</td><td>293</td></tr><tr><td>Other.</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><td>57</td><td>96</td><td>71</td></tr><tr><td>Subtotal.</td><td>5,914</td><td>5,873</td><td>6,353</td><td>6,422</td><td>6,318</td><td>6,106</td><td>7,337</td><td>7,417</td><td>7,423</td><td>8,110</td><td>6,746</td><td>7,588</td><td>7,515</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 1/.</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><td>311</td><td>305</td><td>237</td></tr><tr><td>Other.</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><td>-52</td><td>-39</td><td>-11</td></tr><tr><td>Commodity Credit Corporation.</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><td>165</td><td>21</td><td>-32</td></tr><tr><td>Unemployment Trust Fund.</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><td>4</td><td>5</td><td>4</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund.</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><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>-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><td>-154</td><td>-137</td><td>-18</td></tr><tr><td>Subtotal.</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><td>298</td><td>181</td><td>212</td></tr><tr><td>Redemption of adjusted service bonds.</td><td>1</td><td>1</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>*</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Total cash outgo.</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>7,450</td><td>7,449</td><td>8,012</td><td>7,045</td><td>7,769</td><td>7,727</td></tr><tr><td>EXCESS OF CASH OUTGO.</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><td>4,847</td><td>4,367</td><td>2,138</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 Treasury Statement figures to arrive at this cash series, see the "Treasury Bulletin", February 1939. 2/ Includes sale of commodity food stamps, Agricultural Marketing Administration. 3/ Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority, river and harbor work and flood control, Tennessee
Valley Authority, forest roads and trails, and reclamation projects. 
Comprises Agricultural Conservation and Adjustment Adminis- 
tration, Agricultural Marketing Administration (except 
transfers to trust accounts, etc.), Commodity Credit Corpora- 
tion, Farm Credit Administration, Federal Farm Mortgage Cor- 
poration, Federal land banks, Farm Security Administration, 
Farm Tenant Act, Rural Electrification Administration, and 
Department of Agriculture departmental expenditures. 
Excludes transactions under transfers to trust accounts, etc. 
Excludes accrued interest on United States savings bonds. 
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>6,992</td></tr><tr><td>1939</td><td>364</td><td>581</td><td>796</td><td>323</td><td>552</td><td>644</td><td>369</td><td>589</td><td>752</td><td>399</td><td>567</td><td>615</td><td>6,551</td></tr><tr><td>1940</td><td>398</td><td>614</td><td>989</td><td>385</td><td>561</td><td>781</td><td>449</td><td>724</td><td>756</td><td>458</td><td>656</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,040</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>2,198</td><td>3,402</td><td>5,589</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>1,526</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>7,045</td><td>7,769</td><td>7,727</td><td></td><td></td><td></td><td></td></tr><tr><td>Excess of cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1938</td><td>142</td><td>21</td><td>-293</td><td>455</td><td>146</td><td>11</td><td>224</td><td>151</td><td>85</td><td>434</td><td>181</td><td>138</td><td>1,695</td></tr><tr><td>1939</td><td>364</td><td>88</td><td>38</td><td>407</td><td>138</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>1,955</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>4,847</td><td>4,367</td><td>2,138</td><td></td><td></td><td></td><td></td></tr></table>
26
CASH INCOME AND OUTGO OF THE TREASURY
GENERAL FUND OF THE TREASURY
27
28
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>923</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-September</td><td>4,688</td><td>909</td><td>1,021</td><td>2,411</td><td>347</td></tr><tr><td>October</td><td>5,313</td><td>931</td><td>619</td><td>3,373</td><td>390</td></tr><tr><td>November</td><td>3,557</td><td>915</td><td>512</td><td>1,695</td><td>435</td></tr><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>10,435</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><tr><td>July</td><td>9,127</td><td>906</td><td>979</td><td>5,790</td><td>451</td></tr><tr><td>August</td><td>6,845</td><td>905</td><td>1,076</td><td>4,362</td><td>501</td></tr><tr><td>September</td><td>18,734</td><td>883</td><td>1,538</td><td>15,676</td><td>636</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>155</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>113</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>113</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>113</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-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>415</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>613</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>4,530</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><tr><td>July</td><td>9,127</td><td>532</td><td>8,595</td><td>7,832</td><td>619</td><td>-144</td></tr><tr><td>August</td><td>6,845</td><td>481</td><td>6,364</td><td>5,601</td><td>619</td><td>144</td></tr><tr><td>September</td><td>13,734</td><td>576</td><td>18,158</td><td>17,395</td><td>619</td><td>144</td></tr></table>
Source: Daily Treasury Statements.
In the fiscal years 1935 and 1936, $91 millions and $554 millions, respectively, were transferred from increment on gold to the working balance for retirement of national bank notes. In this statement, however, charges for retirement of national
bank notes are reflected directly against increment on gold in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance.
29
Analysis of Change in Balance of General Fund of the Treasury
In millions of dollars - Net increase or net decrease (-)
<table><tr><th>Change during fiscal year or month</th><th>Total change in General Fund balance</th><th colspan="6">Working balance</th><th>Seigniorage on silver</th><th>Increment on gold</th></tr><tr><th></th><th></th><th>Total working balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Trust 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>-2,396</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>-55,397</td><td>64,274</td><td>92</td><td>241</td><td>-2,194</td><td>-</td><td>-</td></tr><tr><td>1942-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>1,453</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><tr><td>July</td><td>-912</td><td>-912</td><td>-5,105</td><td>4,828</td><td>92</td><td>-1</td><td>-726</td><td>-</td><td>-</td></tr><tr><td>August</td><td>-2,231</td><td>-2,231</td><td>-4,896</td><td>2,534</td><td>275</td><td>4</td><td>-148</td><td>-</td><td>-</td></tr><tr><td>September</td><td>11,794</td><td>11,794</td><td>-2,087</td><td>14,291</td><td>-265</td><td>2</td><td>-146</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ This is the net budgetary 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 fund stamp transactions.
5/ Includes expenditures for retirement of national bank notes.
6/ In the fiscal years 1935 and 1936, $91 millions and $554 millions were transferred from increment on gold to the working
balance for retirement of national bank notes. In this statement, however, charges for retirement of national bank notes are reflected directly against increment on gold, in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance general and special accounts for the purpose of this table. 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 AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
-30-
31
Summary of the Public Debt and Guaranteed Obligations of the United States Government
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th colspan="4">Public debt</th><th colspan="4">Guaranteed debt</th></tr><tr><th></th><th></th><th>Total</th><th>Marketable issues</th><th>Non-marketable issues</th><th>Special issues</th><th>Matured debt and debt bearing no interest</th><th>Total</th><th>Marketable issues</th><th>Non-marketable issues</th><th>Matured debt</th></tr><tr><td>1934</td><td>27,734</td><td>27,053</td><td>26,084</td><td>-</td><td>396</td><td>573</td><td>681</td><td>681</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>32,824</td><td>28,701</td><td>26,950</td><td>62</td><td>633</td><td>1,056</td><td>4,123</td><td>4,123</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>38,497</td><td>33,779</td><td>31,102</td><td>1,261</td><td>626</td><td>790</td><td>4,718</td><td>4,718</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>41,089</td><td>36,425</td><td>33,054</td><td>1,188</td><td>1,558</td><td>625</td><td>4,665</td><td>4,665</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>42,018</td><td>37,165</td><td>32,344</td><td>1,556</td><td>2,676</td><td>589</td><td>4,853</td><td>4,853</td><td>-</td><td>*</td></tr><tr><td>1939</td><td>45,890</td><td>40,440</td><td>33,965</td><td>2,151</td><td>3,770</td><td>554</td><td>5,451</td><td>5,450</td><td>-</td><td>1</td></tr><tr><td>1940</td><td>48,496</td><td>42,968</td><td>34,436</td><td>3,166</td><td>4,775</td><td>591</td><td>5,529</td><td>5,498</td><td>-</td><td>31</td></tr><tr><td>1941</td><td>55,332</td><td>48,961</td><td>37,713</td><td>4,555</td><td>6,120</td><td>574</td><td>6,370</td><td>6,360</td><td>-</td><td>11</td></tr><tr><td>1942</td><td>76,991</td><td>72,422</td><td>50,573</td><td>13,510</td><td>7,685</td><td>454</td><td>4,568</td><td>4,549</td><td>-</td><td>20</td></tr><tr><td>1943</td><td>140,796</td><td>136,696</td><td>95,310</td><td>29,200</td><td>10,871</td><td>1,316</td><td>4,100</td><td>4,023</td><td>68</td><td>8</td></tr><tr><td>1942-September</td><td>91,058</td><td>86,483</td><td>60,402</td><td>16,936</td><td>8,509</td><td>637</td><td>4,574</td><td>4,515</td><td>37</td><td>22</td></tr><tr><td>October</td><td>97,169</td><td>92,904</td><td>65,008</td><td>18,672</td><td>8,585</td><td>639</td><td>4,265</td><td>4,195</td><td>48</td><td>22</td></tr><tr><td>November</td><td>100,379</td><td>96,116</td><td>66,554</td><td>20,117</td><td>8,787</td><td>657</td><td>4,264</td><td>4,195</td><td>48</td><td>20</td></tr><tr><td>December</td><td>112,471</td><td>108,170</td><td>76,488</td><td>21,788</td><td>9,032</td><td>862</td><td>4,301</td><td>4,196</td><td>87</td><td>18</td></tr><tr><td>1943-January</td><td>115,361</td><td>111,069</td><td>77,496</td><td>23,356</td><td>9,172</td><td>1,045</td><td>4,291</td><td>4,196</td><td>81</td><td>14</td></tr><tr><td>February</td><td>118,311</td><td>114,024</td><td>78,726</td><td>24,560</td><td>9,565</td><td>1,173</td><td>4,287</td><td>4,196</td><td>79</td><td>12</td></tr><tr><td>March</td><td>119,867</td><td>115,507</td><td>79,662</td><td>24,622</td><td>10,004</td><td>1,219</td><td>4,360</td><td>4,272</td><td>78</td><td>11</td></tr><tr><td>April</td><td>134,221</td><td>129,849</td><td>91,392</td><td>27,456</td><td>9,795</td><td>1,206</td><td>4,372</td><td>4,288</td><td>76</td><td>9</td></tr><tr><td>May</td><td>140,003</td><td>135,913</td><td>95,382</td><td>29,095</td><td>10,198</td><td>1,238</td><td>4,091</td><td>4,008</td><td>74</td><td>9</td></tr><tr><td>June</td><td>140,796</td><td>136,696</td><td>95,310</td><td>29,200</td><td>10,871</td><td>1,316</td><td>4,100</td><td>4,023</td><td>68</td><td>8</td></tr><tr><td>July</td><td>145,316</td><td>141,524</td><td>98,613</td><td>30,169</td><td>11,456</td><td>1,286</td><td>3,791</td><td>3,711</td><td>71</td><td>9</td></tr><tr><td>August</td><td>148,000</td><td>144,059</td><td>99,935</td><td>30,879</td><td>11,907</td><td>1,338</td><td>3,941</td><td>3,861</td><td>73</td><td>7</td></tr><tr><td>September</td><td>162,321</td><td>158,349</td><td>111,426</td><td>33,910</td><td>11,717</td><td>1,296</td><td>3,971</td><td>3,883</td><td>77</td><td>7</td></tr></table>
Source: Daily Treasury Statements. • Less than $500,000. 1/ Guaranteed securities sold directly to the Treasury, and securities
guaranteed as to interest only, are not included in taxable income. A detailed statement of the public debt and guaranteed obligations, on the following page.
Analysis of Issuance and Retirement of Public Debt
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Public debt outstanding end of fiscal year or month</th><th>Net change during fiscal year or month</th><th colspan="5">Public debt receipts (issuance of public debt)</th><th colspan="5">Public debt expenditures (Retirement of public debt)</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Cash 1/</th><th>Certificates of indebtedness, special series 2/</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 2/</th><th>Ex-changes</th><th>Special issues</th></tr><tr><td>1934</td><td>27,053</td><td>4,515</td><td>13,583</td><td>9,161</td><td>-</td><td>-</td><td>4,159</td><td>264</td><td>9,069</td><td>4,720</td><td>-</td><td>4,159</td><td>191</td></tr><tr><td>1935</td><td>28,701</td><td>1,648</td><td>13,126</td><td>5,716</td><td>-</td><td>6,964</td><td>6,964</td><td>446</td><td>11,478</td><td>4,305</td><td>-</td><td>6,964</td><td>209</td></tr><tr><td>1936</td><td>33,779</td><td>5,078</td><td>14,121</td><td>8,958</td><td>-</td><td>1,669</td><td>2,978</td><td>516</td><td>9,043</td><td>5,542</td><td>-</td><td>2,978</td><td>523</td></tr><tr><td>1937</td><td>36,425</td><td>2,646</td><td>9,589</td><td>6,199</td><td>-</td><td>141</td><td>1,751</td><td>1,499</td><td>6,943</td><td>4,625</td><td>-</td><td>1,751</td><td>567</td></tr><tr><td>1938</td><td>37,165</td><td>740</td><td>9,621</td><td>4,776</td><td>-</td><td>13</td><td>2,674</td><td>2,159</td><td>8,881</td><td>5,166</td><td>-</td><td>2,674</td><td>1,041</td></tr><tr><td>1939</td><td>40,440</td><td>3,275</td><td>13,084</td><td>7,475</td><td>-</td><td>7</td><td>3,035</td><td>2,567</td><td>9,809</td><td>5,301</td><td>-</td><td>3,035</td><td>1,473</td></tr><tr><td>1940</td><td>42,968</td><td>2,528</td><td>13,166</td><td>7,194</td><td>-</td><td>8</td><td>2,812</td><td>3,151</td><td>10,638</td><td>5,680</td><td>-</td><td>2,812</td><td>2,146</td></tr><tr><td>1941</td><td>48,961</td><td>5,994</td><td>17,847</td><td>10,462</td><td>-</td><td>2</td><td>3,142</td><td>4,241</td><td>11,853</td><td>5,816</td><td>-</td><td>3,142</td><td>2,896</td></tr><tr><td>1942</td><td>72,422</td><td>23,461</td><td>37,164</td><td>30,388</td><td>303</td><td>1</td><td>596</td><td>5,876</td><td>13,703</td><td>8,693</td><td>303</td><td>596</td><td>4,111</td></tr><tr><td>1943</td><td>136,696</td><td>64,274</td><td>122,632</td><td>94,961</td><td>17,911</td><td>1</td><td>1,442</td><td>8,318</td><td>58,358</td><td>33,674</td><td>17,911</td><td>1,442</td><td>5,332</td></tr><tr><td>1942-September</td><td>86,483</td><td>4,798</td><td>8,168</td><td>6,902</td><td>928</td><td>49</td><td>290</td><td>3,370</td><td>2,351</td><td>928</td><td>49</td><td>43</td></tr><tr><td>October</td><td>92,904</td><td>6,420</td><td>7,929</td><td>7,807</td><td>-</td><td>20</td><td>103</td><td>1,509</td><td>1,462</td><td>-</td><td>20</td><td>27</td></tr><tr><td>November</td><td>96,116</td><td>3,212</td><td>6,730</td><td>5,617</td><td>890</td><td>-</td><td>223</td><td>3,518</td><td>3,029</td><td>468</td><td>-</td><td>21</td></tr><tr><td>December</td><td>108,170</td><td>12,054</td><td>15,643</td><td>15,111</td><td>259</td><td>-</td><td>273</td><td>3,589</td><td>2,879</td><td>681</td><td>-</td><td>29</td></tr><tr><td>1943-January</td><td>111,069</td><td>2,899</td><td>5,078</td><td>4,581</td><td>317</td><td>-</td><td>180</td><td>2,179</td><td>2,025</td><td>115</td><td>-</td><td>39</td></tr><tr><td>February</td><td>114,024</td><td>2,954</td><td>6,983</td><td>6,567</td><td>-</td><td>-</td><td>416</td><td>4,028</td><td>3,803</td><td>202</td><td>-</td><td>23</td></tr><tr><td>March</td><td>115,507</td><td>1,483</td><td>20,502</td><td>5,322</td><td>14,712</td><td>-</td><td>468</td><td>19,019</td><td>4,277</td><td>14,712</td><td>-</td><td>30</td></tr><tr><td>April</td><td>129,849</td><td>14,342</td><td>17,620</td><td>17,527</td><td>-</td><td>-</td><td>94</td><td>3,278</td><td>2,976</td><td>-</td><td>302</td></tr><tr><td>May</td><td>135,913</td><td>6,064</td><td>10,603</td><td>8,855</td><td>-</td><td>1,374</td><td>415</td><td>4,580</td><td>3,195</td><td>-</td><td>1,374</td><td>12</td></tr><tr><td>June</td><td>136,696</td><td>784</td><td>12,480</td><td>6,281</td><td>805</td><td>-</td><td>5,395</td><td>11,697</td><td>6,170</td><td>805</td><td>-</td><td>4,722</td></tr><tr><td>July</td><td>141,524</td><td>4,828</td><td>8,702</td><td>8,098</td><td>-</td><td>-</td><td>604</td><td>3,874</td><td>3,855</td><td>-</td><td>19</td></tr><tr><td>August</td><td>144,059</td><td>2,534</td><td>8,104</td><td>6,086</td><td>-</td><td>1,556</td><td>462</td><td>5,570</td><td>4,003</td><td>-</td><td>1,556</td><td>11</td></tr><tr><td>September</td><td>158,349</td><td>14,291</td><td>21,748</td><td>20,931</td><td>491</td><td>-</td><td>326</td><td>7,458</td><td>6,451</td><td>491</td><td>-</td><td>516</td></tr></table>
Source: Daily Treasury Statements. * Less than $500,000. 1/ Excludes certificates of indebtedness, special series.
2/ Consists of special series of certificates of indebtedness issued directly and solely to Federal Reserve Banks.
32
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
(in millions of dollars)
<table><tr><th rowspan="2"></th><th colspan="3">End of fiscal year</th><th colspan="9">End of month</th></tr><tr><th>1941</th><th>1942</th><th>1943</th><th colspan="2">1942</th><th colspan="7">1943</th></tr><tr><th></th><th></th><th></th><th></th><th>Sept.</th><th>Dec.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th></tr></table>
Public debt and guaranteed obligations 1/
<table><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt</td><td>48,387</td><td>71,968</td><td>135,380</td><td>85,847</td><td>107,308</td><td>114,287</td><td>128,643</td><td>134,675</td><td>135,380</td><td>140,238</td><td>142,721</td><td>157,053</td></tr><tr><td>Guaranteed obligations</td><td>6,360</td><td>4,549</td><td>4,092</td><td>4,552</td><td>4,283</td><td>4,350</td><td>4,363</td><td>4,082</td><td>4,092</td><td>3,782</td><td>3,934</td><td>3,964</td></tr><tr><td>Total</td><td>54,747</td><td>76,517</td><td>139,472</td><td>90,399</td><td>111,591</td><td>118,637</td><td>133,006</td><td>138,757</td><td>139,472</td><td>144,020</td><td>146,655</td><td>161,018</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>585</td><td>474</td><td>1,324</td><td>659</td><td>880</td><td>1,230</td><td>1,216</td><td>1,247</td><td>1,324</td><td>1,296</td><td>1,345</td><td>1,303</td></tr><tr><td>Total outstanding</td><td>55,332</td><td>76,991</td><td>140,796</td><td>91,058</td><td>112,471</td><td>119,867</td><td>134,221</td><td>140,003</td><td>140,796</td><td>145,316</td><td>148,000</td><td>162,321</td></tr></table>
Public debt
<table><tr><th>Interest-bearing debt:</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>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>1,603</td><td>2,508</td><td>11,864</td><td>4,619</td><td>6,627</td><td>9,234</td><td>10,044</td><td>10,853</td><td>11,864</td><td>12,460</td><td>12,846</td><td>13,054</td></tr><tr><td>Certificates of indebtedness</td><td>-</td><td>3,096</td><td>16,561</td><td>6,211</td><td>10,534</td><td>11,161</td><td>16,154</td><td>16,561</td><td>16,561</td><td>17,497</td><td>21,136</td></tr><tr><td>Treasury notes</td><td>5,698</td><td>6,689</td><td>9,168</td><td>7,958</td><td>9,863</td><td>9,797</td><td>9,797</td><td>9,797</td><td>9,158</td><td>11,875</td><td>11,596</td></tr><tr><td>Treasury bonds</td><td>30,215</td><td>38,085</td><td>57,520</td><td>41,418</td><td>49,268</td><td>49,273</td><td>55,201</td><td>57,975</td><td>57,520</td><td>57,520</td><td>65,444</td></tr><tr><td>Other bonds</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><td>196</td><td>196</td><td>196</td></tr><tr><td>Total marketable issues</td><td>37,713</td><td>50,573</td><td>95,310</td><td>60,402</td><td>76,488</td><td>79,662</td><td>91,392</td><td>95,382</td><td>95,310</td><td>98,613</td><td>99,935</td><td>111,426</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></tr><tr><td>U. S. savings bonds</td><td>4,314</td><td>10,188</td><td>21,256</td><td>12,479</td><td>15,050</td><td>17,891</td><td>19,267</td><td>20,507</td><td>21,256</td><td>22,030</td><td>22,694</td><td>24,478</td></tr><tr><td>Treasury notes - tax and savings series</td><td>-</td><td>3,015</td><td>7,495</td><td>4,137</td><td>6,384</td><td>6,146</td><td>7,783</td><td>8,163</td><td>7,495</td><td>7,678</td><td>7,705</td><td>8,351</td></tr><tr><td>Adjusted service bonds</td><td>241</td><td>229</td><td>222</td><td>226</td><td>224</td><td>223</td><td>223</td><td>223</td><td>222</td><td>221</td><td>221</td><td>220</td></tr><tr><td>Depository bonds</td><td>-</td><td>79</td><td>226</td><td>94</td><td>130</td><td>162</td><td>183</td><td>202</td><td>226</td><td>240</td><td>262</td><td>361</td></tr><tr><td>Total non-marketable issues</td><td>4,555</td><td>13,510</td><td>29,200</td><td>16,936</td><td>21,788</td><td>24,622</td><td>27,456</td><td>29,095</td><td>29,200</td><td>30,169</td><td>30,879</td><td>33,910</td></tr><tr><td>Total public issues</td><td>42,267</td><td>64,083</td><td>124,509</td><td>77,338</td><td>98,276</td><td>104,284</td><td>118,848</td><td>124,477</td><td>124,509</td><td>128,782</td><td>130,814</td><td>145,336</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></tr><tr><td>Adjusted Service Certificate Fund</td><td>19</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</td><td>18</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>90</td><td>95</td><td>103</td><td>95</td><td>95</td><td>178</td><td>103</td><td>103</td><td>103</td><td>162</td><td>177</td><td>77</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund</td><td>2,381</td><td>3,133</td><td>4,044</td><td>3,322</td><td>3,462</td><td>3,700</td><td>3,687</td><td>3,687</td><td>4,044</td><td>4,031</td><td>4,031</td><td>4,256</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>5</td><td>5</td><td>106</td><td>6</td><td>6</td><td>7</td><td>2</td><td>30</td><td>106</td><td>107</td><td>107</td><td>8</td></tr><tr><td>Government Life Insurance Fund</td><td>531</td><td>537</td><td>538</td><td>523</td><td>526</td><td>539</td><td>511</td><td>513</td><td>538</td><td>541</td><td>547</td><td>500</td></tr><tr><td>Government Retirement Funds</td><td>656</td><td>796</td><td>1,076</td><td>920</td><td>950</td><td>991</td><td>1,012</td><td>1,024</td><td>1,076</td><td>1,271</td><td>1,287</td><td>1,302</td></tr><tr><td>National Service Life Insurance Fund</td><td>3</td><td>39</td><td>352</td><td>87</td><td>146</td><td>233</td><td>268</td><td>310</td><td>352</td><td>405</td><td>461</td><td>514</td></tr><tr><td>Postal Savings System</td><td>88</td><td>55</td><td>197</td><td>55</td><td>55</td><td>257</td><td>87</td><td>147</td><td>197</td><td>292</td><td>357</td><td>100</td></tr><tr><td>Canal Zone, Postal Savings System</td><td>-</td><td>1</td><td>2</td><td>2</td><td>2</td><td>3</td><td>2</td><td>-</td><td>2</td><td>2</td><td>2</td><td>3</td></tr><tr><td>Railroad Retirement Account</td><td>74</td><td>92</td><td>178</td><td>173</td><td>174</td><td>176</td><td>200</td><td>189</td><td>178</td><td>332</td><td>321</td><td>310</td></tr><tr><td>Unemployment Trust Fund</td><td>2,273</td><td>3,114</td><td>4,257</td><td>3,309</td><td>3,597</td><td>3,902</td><td>3,906</td><td>4,175</td><td>4,257</td><td>4,295</td><td>4,598</td><td>4,630</td></tr><tr><td>Total special issues</td><td>6,120</td><td>7,885</td><td>10,871</td><td>8,509</td><td>9,032</td><td>10,004</td><td>9,795</td><td>10,198</td><td>10,871</td><td>11,456</td><td>11,907</td><td>11,717</td></tr><tr><td>Total interest-bearing debt</td><td>48,387</td><td>71,968</td><td>135,380</td><td>85,847</td><td>107,308</td><td>114,287</td><td>128,643</td><td>134,675</td><td>135,380</td><td>140,238</td><td>142,721</td><td>157,053</td></tr><tr><td>Matured debt on which interest has ceased</td><td>205</td><td>98</td><td>141</td><td>102</td><td>75</td><td>89</td><td>63</td><td>67</td><td>141</td><td>113</td><td>164</td><td>124</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></tr><tr><td>United States savings stamps</td><td>-</td><td>-</td><td>213</td><td>181</td><td>221</td><td>226</td><td>228</td><td>225</td><td>213</td><td>207</td><td>204</td><td>201</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></tr><tr><td>Deposits for retirement of national bank and Federal Reserve Bank notes</td><td>173</td><td>159</td><td>766</td><td>157</td><td>369</td><td>708</td><td>719</td><td>750</td><td>766</td><td>769</td><td>774</td><td>774</td></tr><tr><td>Other debt bearing no interest</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total debt bearing no interest</td><td>369</td><td>356</td><td>1,175</td><td>534</td><td>787</td><td>1,130</td><td>1,143</td><td>1,171</td><td>1,175</td><td>1,173</td><td>1,174</td><td>1,172</td></tr><tr><td>Total public debt outstanding</td><td>48,961</td><td>72,422</td><td>136,696</td><td>86,483</td><td>108,110</td><td>115,507</td><td>129,849</td><td>135,913</td><td>136,696</td><td>141,524</td><td>144,059</td><td>158,349</td></tr></table>
Guaranteed obligations 1/
<table><tr><td>Interest-bearing debts:</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></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></tr><tr><td>Commodity Credit Corporation</td><td>696</td><td>701</td><td>412</td><td>701</td><td>701</td><td>701</td><td>701</td><td>412</td><td>412</td><td>412</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,269</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td><td>930</td></tr><tr><td>Federal Housing Administration</td><td>17</td><td>21</td><td>23</td><td>21</td><td>22</td><td>23</td><td>23</td><td>22</td><td>22</td><td>22</td></tr><tr><td>Federal Public Housing Authority</td><td>226</td><td>114</td><td>114</td><td>114</td><td>114</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>2,409</td><td>1,563</td><td>1,533</td><td>1,533</td><td>1,533</td><td>1,533</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>1,741</td><td>1,219</td><td>1,011</td><td>1,216</td><td>896</td><td>971</td><td>986</td><td>996</td><td>1,011</td><td>876</td></tr><tr><td>Total marketable issues</td><td>6,360</td><td>4,549</td><td>4,023</td><td>4,515</td><td>4,196</td><td>4,272</td><td>4,288</td><td>4,008</td><td>4,023</td><td>3,861</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></tr><tr><td>Commodity Credit Corporation 2/</td><td>-</td><td>-</td><td>68</td><td>37</td><td>87</td><td>78</td><td>76</td><td>74</td><td>68</td><td>71</td></tr><tr><td>Total interest-bearing debt</td><td>6,360</td><td>4,549</td><td>4,092</td><td>4,552</td><td>4,283</td><td>4,350</td><td>4,363</td><td>4,082</td><td>4,092</td><td>3,934</td></tr><tr><td>Matured debt on which interest has ceased</td><td>11</td><td>20</td><td>8</td><td>22</td><td>18</td><td>11</td><td>9</td><td>9</td><td>8</td><td>7</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>6,370</td><td>4,568</td><td>4,100</td><td>4,574</td><td>4,301</td><td>4,360</td><td>4,372</td><td>4,091</td><td>4,100</td><td>3,941</td></tr></table>
Source: Daily Treasury Statements. 1/ Guaranteed securities sold directly to the Treasury and accrual-
2/ Demand obligations.
INTEREST - BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
33
34
Composition of the Interest-Bearing Public Debt
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="6">Interest-bearing public debt outstanding (in millions of dollars)</th><th colspan="8">Percent of interest-bearing public debt</th></tr><tr><th>Total</th><th colspan="2">Bonds</th><th colspan="2">Notes</th><th rowspan="2">Certificates of indebtedness</th><th rowspan="2">Bills</th><th colspan="2">Special issues</th><th colspan="4">Public issues</th></tr><tr><th></th><th></th><th>Marketable</th><th>Non-marketable</th><th>Marketable</th><th>Non-marketable</th><th>Total</th><th>Marketable</th><th>Non-marketable</th><th>Marketable</th><th>Non-marketable</th><th>Certificates of indebtedness</th><th>Bills</th><th>Special issues</th></tr><tr><td>1934</td><td>26,480</td><td>16,510</td><td>-</td><td>6,653</td><td>-</td><td>1,517</td><td>1,404</td><td>396</td><td>100.0</td><td>62.4</td><td>-</td><td>25.1</td><td>-</td><td>5.7</td><td>5.3</td><td>1.5</td></tr><tr><td>1935</td><td>27,045</td><td>14,474</td><td>62</td><td>10,023</td><td>-</td><td>-</td><td>2,053</td><td>633</td><td>100.0</td><td>53.8</td><td>2.2</td><td>36.3</td><td>-</td><td>-</td><td>7.4</td><td>2.3</td></tr><tr><td>1936</td><td>32,989</td><td>17,363</td><td>1,261</td><td>11,381</td><td>-</td><td>-</td><td>2,354</td><td>626</td><td>100.0</td><td>52.6</td><td>3.8</td><td>34.5</td><td>-</td><td>-</td><td>7.1</td><td>1.9</td></tr><tr><td>1937</td><td>35,800</td><td>20,134</td><td>1,188</td><td>10,617</td><td>-</td><td>-</td><td>2,303</td><td>1,558</td><td>100.0</td><td>56.2</td><td>3.3</td><td>29.7</td><td>-</td><td>-</td><td>6.4</td><td>4.3</td></tr><tr><td>1938</td><td>36,576</td><td>22,043</td><td>1,556</td><td>9,117</td><td>-</td><td>-</td><td>1,154</td><td>2,676</td><td>100.0</td><td>60.3</td><td>4.3</td><td>25.0</td><td>-</td><td>-</td><td>3.2</td><td>7.3</td></tr><tr><td>1939</td><td>39,886</td><td>25,414</td><td>2,151</td><td>7,243</td><td>-</td><td>-</td><td>1,308</td><td>3,170</td><td>100.0</td><td>63.7</td><td>5.4</td><td>18.2</td><td>-</td><td>-</td><td>3.3</td><td>9.5</td></tr><tr><td>1940</td><td>42,376</td><td>26,751</td><td>3,166</td><td>6,383</td><td>-</td><td>-</td><td>1,302</td><td>4,775</td><td>100.0</td><td>63.1</td><td>7.5</td><td>15.1</td><td>-</td><td>-</td><td>3.1</td><td>11.3</td></tr><tr><td>1941</td><td>48,367</td><td>30,411</td><td>4,555</td><td>5,698</td><td>-</td><td>-</td><td>1,503</td><td>6,120</td><td>100.0</td><td>62.8</td><td>9.4</td><td>11.8</td><td>-</td><td>-</td><td>3.3</td><td>12.6</td></tr><tr><td>1942</td><td>71,968</td><td>38,281</td><td>10,496</td><td>6,689</td><td>3,015</td><td>3,096</td><td>2,508</td><td>7,885</td><td>100.0</td><td>53.2</td><td>14.6</td><td>9.3</td><td>4.2</td><td>4.3</td><td>3.5</td><td>11.0</td></tr><tr><td>1943</td><td>135,380</td><td>57,716</td><td>21,704</td><td>9,168</td><td>7,495</td><td>16,561</td><td>11,804</td><td>10,871</td><td>100.0</td><td>42.6</td><td>16.0</td><td>6.8</td><td>5.5</td><td>12.2</td><td>6.8</td><td>8.0</td></tr><tr><td>1942-September</td><td>85,847</td><td>41,614</td><td>12,799</td><td>7,958</td><td>4,137</td><td>6,211</td><td>4,619</td><td>8,509</td><td>100.0</td><td>48.5</td><td>14.9</td><td>9.3</td><td>4.8</td><td>7.2</td><td>5.4</td><td>9.9</td></tr><tr><td>October</td><td>92,265</td><td>43,577</td><td>13,708</td><td>10,095</td><td>4,984</td><td>6,211</td><td>5,126</td><td>8,585</td><td>100.0</td><td>47.2</td><td>14.9</td><td>10.9</td><td>5.4</td><td>6.1</td><td>5.6</td><td>9.3</td></tr><tr><td>November</td><td>95,458</td><td>43,577</td><td>14,415</td><td>10,095</td><td>5,703</td><td>7,161</td><td>5,721</td><td>8,787</td><td>100.0</td><td>45.7</td><td>15.1</td><td>10.5</td><td>5.5</td><td>7.7</td><td>5.0</td><td>9.2</td></tr><tr><td>December</td><td>107,308</td><td>43,404</td><td>15,404</td><td>9,863</td><td>6,334</td><td>10,531</td><td>6,627</td><td>9,032</td><td>100.0</td><td>46.1</td><td>14.4</td><td>9.2</td><td>5.9</td><td>9.8</td><td>6.2</td><td>8.4</td></tr><tr><td>1943-January</td><td>110,024</td><td>49,469</td><td>16,607</td><td>9,863</td><td>6,749</td><td>10,741</td><td>7,423</td><td>9,172</td><td>100.0</td><td>45.0</td><td>15.1</td><td>9.0</td><td>6.1</td><td>9.8</td><td>6.7</td><td>8.3</td></tr><tr><td>February</td><td>112,851</td><td>49,469</td><td>17,435</td><td>9,863</td><td>7,125</td><td>11,161</td><td>8,232</td><td>9,585</td><td>100.0</td><td>43.8</td><td>15.4</td><td>8.7</td><td>6.3</td><td>9.9</td><td>7.3</td><td>8.5</td></tr><tr><td>March</td><td>114,287</td><td>49,469</td><td>18,276</td><td>9,797</td><td>6,346</td><td>11,161</td><td>9,234</td><td>10,004</td><td>100.0</td><td>43.3</td><td>16.0</td><td>8.6</td><td>5.6</td><td>9.8</td><td>8.1</td><td>8.8</td></tr><tr><td>April</td><td>128,643</td><td>55,397</td><td>19,673</td><td>9,797</td><td>7,783</td><td>16,154</td><td>10,044</td><td>9,795</td><td>100.0</td><td>43.1</td><td>15.3</td><td>7.6</td><td>6.1</td><td>12.6</td><td>7.8</td><td>7.6</td></tr><tr><td>May</td><td>134,675</td><td>58,171</td><td>20,932</td><td>9,797</td><td>8,163</td><td>16,561</td><td>10,853</td><td>10,198</td><td>100.0</td><td>43.2</td><td>15.5</td><td>7.3</td><td>6.1</td><td>12.3</td><td>8.1</td><td>7.6</td></tr><tr><td>June</td><td>135,380</td><td>57,716</td><td>21,704</td><td>9,168</td><td>7,495</td><td>16,561</td><td>11,804</td><td>10,871</td><td>100.0</td><td>42.6</td><td>16.0</td><td>6.8</td><td>5.5</td><td>12.2</td><td>8.8</td><td>8.0</td></tr><tr><td>July</td><td>140,238</td><td>57,716</td><td>22,491</td><td>11,875</td><td>7,678</td><td>16,561</td><td>12,460</td><td>11,456</td><td>100.0</td><td>41.2</td><td>16.0</td><td>8.5</td><td>5.5</td><td>11.8</td><td>8.9</td><td>8.2</td></tr><tr><td>August</td><td>142,721</td><td>57,716</td><td>23,176</td><td>11,875</td><td>7,703</td><td>17,497</td><td>12,846</td><td>11,907</td><td>100.0</td><td>40.4</td><td>16.2</td><td>8.3</td><td>5.4</td><td>12.3</td><td>9.0</td><td>8.3</td></tr><tr><td>September</td><td>157,053</td><td>65,040</td><td>25,060</td><td>11,596</td><td>8,851</td><td>21,136</td><td>13,054</td><td>11,717</td><td>100.0</td><td>41.8</td><td>16.0</td><td>7.4</td><td>5.6</td><td>13.5</td><td>8.3</td><td>7.5</td></tr></table>
Source: Daily Treasury Statements.
Guaranteed Obligations Held by the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Commodity Credit Corporation</th><th>Federal Farm Mortgage Corporation</th><th>Federal Public Housing Authority</th><th>Home Owners' Loan Corporation</th><th>Reconstruction Finance Corporations</th><th>Tennessee Valley Authority</th></tr><tr><td>1934</td><td>3,255</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,255</td><td>-</td></tr><tr><td>1935</td><td>3,655</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3,655</td><td>-</td></tr><tr><td>1936</td><td>4,030</td><td>-</td><td>-</td><td>-</td><td>-</td><td>4,030</td><td>-</td></tr><tr><td>1937</td><td>3,630</td><td>-</td><td>-</td><td>-</td><td>25</td><td>3,605</td><td>-</td></tr><tr><td>1938</td><td>883</td><td>-</td><td>-</td><td>4</td><td>15</td><td>864</td><td>-</td></tr><tr><td>1939</td><td>273</td><td>10</td><td>-</td><td>-</td><td>20</td><td>243</td><td>*</td></tr><tr><td>1940</td><td>104</td><td>25</td><td>-</td><td>20</td><td>-</td><td>7</td><td>58</td></tr><tr><td>1941</td><td>302</td><td>140</td><td>-</td><td>85</td><td>-</td><td>20</td><td>57</td></tr><tr><td>1942</td><td>4,079</td><td>400</td><td>263</td><td>274</td><td>551</td><td>2,534</td><td>57</td></tr><tr><td>1943</td><td>7,535</td><td>1,950</td><td>-</td><td>283</td><td>212</td><td>5,033</td><td>57</td></tr><tr><td>1942-September</td><td>4,452</td><td>500</td><td>157</td><td>280</td><td>481</td><td>2,977</td><td>57</td></tr><tr><td>October</td><td>5,048</td><td>625</td><td>124</td><td>280</td><td>457</td><td>3,505</td><td>57</td></tr><tr><td>November</td><td>4,729</td><td>300</td><td>80</td><td>280</td><td>433</td><td>3,580</td><td>57</td></tr><tr><td>December</td><td>5,201</td><td>450</td><td>49</td><td>280</td><td>411</td><td>3,955</td><td>57</td></tr><tr><td>1943-January</td><td>5,598</td><td>650</td><td>-</td><td>280</td><td>386</td><td>4,226</td><td>57</td></tr><tr><td>February</td><td>5,820</td><td>750</td><td>-</td><td>283</td><td>323</td><td>4,405</td><td>57</td></tr><tr><td>March</td><td>6,142</td><td>850</td><td>-</td><td>283</td><td>298</td><td>4,654</td><td>57</td></tr><tr><td>April</td><td>6,152</td><td>750</td><td>-</td><td>283</td><td>276</td><td>4,767</td><td>57</td></tr><tr><td>May</td><td>6,357</td><td>700</td><td>-</td><td>283</td><td>243</td><td>5,074</td><td>57</td></tr><tr><td>June</td><td>7,535</td><td>1,950</td><td>-</td><td>283</td><td>212</td><td>5,033</td><td>57</td></tr><tr><td>July</td><td>7,063</td><td>700</td><td>-</td><td>283</td><td>173</td><td>5,850</td><td>57</td></tr><tr><td>August</td><td>7,170</td><td>700</td><td>-</td><td>283</td><td>110</td><td>6,021</td><td>57</td></tr><tr><td>September</td><td>7,310</td><td>700</td><td>-</td><td>283</td><td>79</td><td>6,192</td><td>57</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000.
1/ These securities are not included in preceding statements of guaranteed obligations outstanding.
35
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 September 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 September 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>$65,443,749,900</td></tr><tr><td>Savings (maturity value) 1/</td><td>30,218,292,750</td></tr><tr><td>Depositary</td><td>361,345,750</td></tr><tr><td>Adjusted Service</td><td>720,351,607</td></tr><tr><td>Total bonds</td><td>$96,743,740,007</td></tr><tr><td>Treasury notes</td><td>27,015,284,775</td></tr><tr><td>Certificates of indebtedness</td><td>25,784,295,000</td></tr><tr><td>Treasury bill (maturity value)</td><td>13,054,078,000</td></tr><tr><td>Total interest-bearing securities</td><td>$162,597,397,782</td></tr><tr><td>Matured obligations on which interest has ceased</td><td>115,952,675</td></tr><tr><td>Debt bearing no interest (United States savings stamps)</td><td>201,452,936</td></tr><tr><td>Total face amount of securities outstanding</td><td>162,914,803,393</td></tr><tr><td>Total amount of authorization unused as of September 30, 1943</td><td>$ 47,085,196,607</td></tr></table>
1/ Approximate maturity value. The current redemption value of United States savings bonds amounted to $24,478,406,680 on September 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 September 30, 1943
<table><tr><td>Gross public debt outstanding</td><td>$158,349,488,312</td></tr><tr><td>Total face amount of securities outstanding limited by Section 21 of the Second Liberty Bond Act, as amended.</td><td>$162,914,803,393</td></tr><tr><td>Less: Unearned discount on savings bonds (difference between maturity value and current redemption value).</td><td>5,739,886,070</td></tr><tr><td></td><td>$157,174,917,323</td></tr><tr><td>Add: Securities outstanding not subject to limitation under Section 21:</td><td></td></tr><tr><td>Interest-bearing securities</td><td>$ 195,942,720</td></tr><tr><td>Matured obligations on which interest has ceased</td><td>8,004,910</td></tr><tr><td>Debt bearing no interest</td><td>970,623,359</td></tr><tr><td></td><td>1,174,570,989</td></tr><tr><td>Gross public debt outstanding</td><td>$158,349,488,312</td></tr></table>
36
Computed Interest Charge and Computed Interest Rate on the Public Debt and Guaranteed Obligations of the United States Government
(in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Public debt and guaranteed obligations</th><th colspan="3">Public debt 1/</th><th colspan="3">Guaranteed obligations 2/</th></tr><tr><th></th><th>Interest-bearing debt outstanding</th><th>Computed annual interest charge</th><th>Computed annual rate of interest (Percent)</th><th>Interest-bearing debt outstanding</th><th>Computed annual interest charge</th><th>Computed annual rate of interest (Percent)</th><th>Interest-bearing debt outstanding</th><th>Computed annual interest charge</th><th>Computed annual 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>76,511</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-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><tr><td>July</td><td>144,020</td><td>2,840</td><td>1.972</td><td>140,238</td><td>2,763</td><td>1.971</td><td>3,782</td><td>77</td><td>2.035</td></tr><tr><td>August</td><td>146,655</td><td>2,881</td><td>1.964</td><td>142,721</td><td>2,802</td><td>1.964</td><td>3,934</td><td>78</td><td>1.995</td></tr><tr><td>September</td><td>161,018</td><td>3,149</td><td>1.956</td><td>157,053</td><td>3,070</td><td>1.955</td><td>3,964</td><td>79</td><td>1.987</td></tr></table>
Source: Daily Treasury Statements. 1/ Treasury bills are included in interest-bearing debt figures at face amount, but for purposes 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. Includes 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.
37
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of September 30, 1943
(In millions of dollars)
<table><tr><th>Year end 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>13,054</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 indebted. 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 indebted. 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>Total.....</td><td></td><td>20,711</td><td></td><td></td><td>20,711</td><td>20,711</td></tr><tr><td>1944-Feb.</td><td>1-3/8% PHA note</td><td>114</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.....</td><td>7/8% Ctf. of indebted. 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</td><td></td><td>95</td><td></td><td></td><td></td></tr><tr><td>Apr.....</td><td>7/8% Ctf. of indebted. 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</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 indebted. 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</td><td></td><td>779</td><td></td><td></td><td></td></tr><tr><td>May.....</td><td>3% FPMC bond</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>415</td><td></td><td></td><td></td><td></td></tr><tr><td>Aug.....</td><td>7/8% Ctf. of indebted. D - 8/1/44</td><td>2,545</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.....</td><td>7/8% Ctf. of indebted. E - 9/1/44</td><td>3,639</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>1/4% Treasury bond - 12/15/44-54</td><td></td><td>1,037</td><td></td><td></td><td></td></tr><tr><td>Total.....</td><td></td><td>17,836</td><td>4,264</td><td></td><td>22,099</td><td>17,836</td></tr><tr><td>1945-Jan.</td><td>1% RFC note X-A - 1/1/45</td><td>160</td><td></td><td></td><td></td><td></td></tr><tr><td>Jan.....</td><td>1% RFC note X-B - 1/1/45</td><td>145</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>Dec.....</td><td>3/4% Treasury note B - 12/15/45</td><td>531</td><td></td><td></td><td></td><td></td></tr><tr><td>Total.....</td><td></td><td>4,112</td><td>1,969</td><td></td><td>6,082</td><td>4,112</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>439</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>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>3-1/3% Treasury bond - 6/15/46-48</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>Total.....</td><td></td><td>3,780</td><td>2,344</td><td></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>Sept.....</td><td>1-1/2% Treasury note A - 9/15/47</td><td>2,707</td><td></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>Dec.....</td><td>2% Treasury bond - 12/15/47</td><td>701</td><td></td><td></td><td></td><td></td></tr><tr><td>Total.....</td><td></td><td>3,421</td><td>759</td><td></td><td>4,180</td><td>5,391</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>Total.....</td><td></td><td>3,513</td><td>2,910</td><td></td><td>6,423</td><td>4,549</td></tr></table>
(Continued on following page)
38
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of September 30, 1943 - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Year and month</th><th rowspan="2">Description of security 2/</th><th colspan="3">Detailed annual maturities</th><th colspan="2">Total annual maturities</th></tr><tr><th>Fixed maturity issues</th><th>Callable issues classified by year of first call</th><th>Final maturity</th><th>Fixed-maturity issues plus callable issues classified by year of first call</th><th>Fixed-maturity issues plus callable issues classified by year of final maturity</th></tr><tr><td>1949-May....</td><td>15 3/8% FMC bond</td><td>-</td><td>5/15/49-49</td><td></td><td>835</td><td></td></tr><tr><td>June....</td><td>3-1/6% Treasury bond</td><td>-</td><td>6/15/46-49</td><td></td><td>819</td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>-</td><td>6/15/49-51</td><td></td><td>1,014</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/49-51</td><td></td><td>1,292</td><td></td></tr><tr><td>Dec....</td><td>3-1/8% Treasury bond</td><td>-</td><td>12/15/49-52</td><td></td><td>491</td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>-</td><td>12/15/49-53</td><td></td><td>1,786</td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>-</td><td>12/15/49-51</td><td></td><td>2,098</td><td></td></tr><tr><td colspan="2">Total</td><td></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</td><td>-</td><td>3/15/48-50</td><td></td><td>1,115</td><td></td></tr><tr><td>Mar....</td><td>2% Treasury bond</td><td>-</td><td>3/15/50-52</td><td></td><td>1,963</td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>-</td><td>9/15/50-52</td><td></td><td>1,186</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/50-52</td><td></td><td>4,939</td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>-</td><td>12/15/48-50</td><td></td><td>571</td><td></td></tr><tr><td colspan="2">Total</td><td></td><td></td><td>8,083</td><td>1,687</td><td>8,088</td><td>1,687</td></tr><tr><td>1951-Mar....</td><td>2-3/4% Treasury bond</td><td>-</td><td>3/15/48-51</td><td></td><td>1,223</td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>-</td><td>6/15/49-51</td><td></td><td>1,014</td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>-</td><td>6/15/51-54</td><td></td><td>1,627</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/49-51</td><td></td><td>1,292</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/51-53</td><td></td><td>4,413</td><td></td></tr><tr><td>Sept....</td><td>3% Treasury bond</td><td>-</td><td>9/15/51-55</td><td></td><td>755</td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>-</td><td>12/15/51-53</td><td></td><td>1,118</td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>-</td><td>12/15/51-55</td><td></td><td>510</td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>-</td><td>12/15/49-51</td><td></td><td>2,098</td><td></td></tr><tr><td colspan="2">Total</td><td></td><td></td><td>8,424</td><td>5,628</td><td>8,424</td><td>5,628</td></tr><tr><td>1952-Mar....</td><td>2-1/2% Treasury bond</td><td>-</td><td>3/15/52-54</td><td></td><td>1,024</td><td></td></tr><tr><td>Mar....</td><td>2% Treasury bond</td><td>-</td><td>3/15/50-52</td><td></td><td>1,963</td><td></td></tr><tr><td>May....</td><td>3% EOLC bond</td><td>-</td><td>5/1/44-52</td><td></td><td>779</td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>-</td><td>6/15/52-55</td><td></td><td>1,501</td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond</td><td>-</td><td>9/15/50-52</td><td></td><td>1,186</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/50-52</td><td></td><td>4,939</td><td></td></tr><tr><td>Oct....</td><td>4-1/4% Treasury bond</td><td>-</td><td>10/15/47-52</td><td></td><td>759</td><td></td></tr><tr><td>Dec....</td><td>3-1/8% Treasury bond</td><td>-</td><td>12/15/49-52</td><td></td><td>491</td><td></td></tr><tr><td colspan="2">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>-</td><td>6/15/53-55</td><td></td><td>725</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/51-53</td><td></td><td>4,413</td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>-</td><td>12/15/49-53</td><td></td><td>1,786</td><td></td></tr><tr><td>Dec....</td><td>2-1/4% Treasury bond</td><td>-</td><td>12/15/51-53</td><td></td><td>1,118</td><td></td></tr><tr><td colspan="2">Total</td><td></td><td></td><td>725</td><td>7,317</td><td>725</td><td>7,317</td></tr><tr><td>1954-Mar....</td><td>2-1/2% Treasury bond</td><td>-</td><td>3/15/52-54</td><td></td><td>1,024</td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond</td><td>-</td><td>6/15/51-54</td><td></td><td>1,627</td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>-</td><td>6/15/54-56</td><td></td><td>681</td><td></td></tr><tr><td>Dec....</td><td>4% Treasury bond</td><td>-</td><td>12/15/44-54</td><td></td><td>1,037</td><td></td></tr><tr><td colspan="2">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>-</td><td>3/15/55-60</td><td></td><td>2,611</td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>-</td><td>6/15/52-55</td><td></td><td>1,501</td><td></td></tr><tr><td>June....</td><td>2% Treasury bond</td><td>-</td><td>6/15/53-55</td><td></td><td>725</td><td></td></tr><tr><td>Sept....</td><td>2% Treasury bond</td><td>-</td><td>9/15/51-55</td><td></td><td>755</td><td></td></tr><tr><td>Dec....</td><td>2% Treasury bond</td><td>-</td><td>12/15/51-55</td><td></td><td>510</td><td></td></tr><tr><td colspan="2">Total</td><td></td><td></td><td>2,611</td><td>3,491</td><td>2,611</td><td>3,491</td></tr></table>
(Continued on following page)
39
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of September 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>1956-Mar....</td><td>3-3/4% Treasury bond</td><td>3/15/46-56</td><td>1,449</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></td><td>681</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond</td><td>6/15/54-56</td><td>982</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treasury bond</td><td>9/15/56-59</td><td></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>982</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 - 6/1/61</td><td></td><td>50</td><td></td><td>50</td><td>50</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></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% FMC bond</td><td>3/15/44-64</td><td>3,762</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></td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond</td><td>12/15/64-69</td><td>3,510</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td>7,272</td><td>95</td><td>7,272</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>1,485</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>2,831</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>Dec....</td><td>2-1/2% Treasury bond</td><td>12/15/64-69</td><td>3,510</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td></td><td></td><td>7,272</td><td></td><td>7,272</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>
Sources: 1/ Daily Treasury Statement, and reports to the Treasury. 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.
40
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness 1/
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="5">Description of new Treasury security 2/</th><th colspan="3">Account issued</th><th rowspan="2">Public cash subscriptions 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 colspan="2">Call and maturity dates</th><th colspan="2">To call</th><th>To maturity</th><th>Total</th><th>For cash</th><th>Govern-ment accounts</th><th>For ex-change</th><th>Class of security</th><th>Coupon rate (per-cent)</th><th>Call and maturity dates</th><th>Date of original issue</th></tr><tr><td></td><td></td><td></td><td>Notes</td><td>Bonds</td><td></td><td>Yea. Noe.</td><td>Yea. Noe.</td><td></td><td>Public</td><td colspan="2">3/</td><td></td><td></td><td></td><td></td></tr></table>
Offerings in 1940
<table><tr><td>3/7</td><td>3/15</td><td>3/15/40</td><td>3/4</td><td>-</td><td>3/15/45</td><td>-</td><td>-</td><td>5</td><td>-</td><td>718</td><td>-</td><td>-</td><td>718</td><td>-</td><td>Treat. 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>Treat. load</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>6/13/54-56</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>Treat. 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</td><td>2</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 in 1941
<table><tr><td>1/23</td><td>1/31</td><td>1/31/41</td><td>3/4 T</td><td>-</td><td>9/15/44</td><td>-</td><td>-</td><td>3</td><td>7-1/2</td><td>635</td><td>635</td><td>-</td><td>-</td><td>2,756</td><td>-</td><td>-</td><td>-</td></tr><tr><td>2/25</td><td>3/15</td><td>3/15/41</td><td>3/4 T</td><td>-</td><td>3/15/43</td><td>-</td><td>-</td><td>2</td><td>-</td><td>32</td><td>-</td><td>-</td><td>5</td><td>-</td><td>Treas.bond</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td></tr><tr><td></td><td></td><td>3/15/41</td><td>-</td><td>2</td><td>3/15/48-50</td><td>7</td><td>-</td><td>9</td><td>-</td><td>1,116</td><td>-</td><td>-</td><td>482</td><td>-</td><td>Treas.note</td><td>1-1/2</td><td>3/15/41</td><td>3/16/36</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>634</td><td>-</td><td>Treas.note</td><td>3-3/8</td><td>3/15/41-43</td><td>3/16/31</td></tr><tr><td>3/19</td><td>3/31</td><td>3/15/41 4/31/41</td><td>3/4 T</td><td>-</td><td>3/15/43</td><td>-</td><td>-</td><td>2</td><td>-</td><td>33</td><td>-</td><td>-</td><td>33</td><td>-</td><td>Treas.note</td><td>1-3/8</td><td>6/15/41</td><td>6/15/36</td></tr><tr><td>5/22</td><td>6/2</td><td>3/15/41 6/2/41</td><td>3/4 T</td><td>-</td><td>3/15/43</td><td>-</td><td>-</td><td>2</td><td>-</td><td>1</td><td>-</td><td>50</td><td>447</td><td>6,115</td><td>Treas.note</td><td>1-3/8</td><td>6/15/41</td><td>6/15/36</td></tr><tr><td>10/9</td><td>10/20</td><td>10/20/41</td><td>-</td><td>2-1/2 T</td><td>3/15/56-58</td><td>14</td><td>9-1/2</td><td>16</td><td>9-1/2</td><td>1,449</td><td>662</td><td>-</td><td>1</td><td>-</td><td>Treas.bond</td><td>3-1/4</td><td>8/1/41</td><td>8/15/33</td></tr><tr><td>10/23</td><td>11/1</td><td>11/1/41</td><td>1 T</td><td>-</td><td>3/15/46</td><td>-</td><td>-</td><td>4</td><td>4-1/2</td><td>503</td><td>-</td><td>100</td><td>189</td><td>10,446</td><td>Treas.note</td><td>1-1/4</td><td>12/15/41</td><td>12/15/36</td></tr><tr><td>12/4</td><td>12/15</td><td>12/15/41 10/20/41 4/</td><td>-</td><td>2</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 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>?</td><td>1 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>Trans. note<br>RPC note<br>FTMC bond<br>FTMC bond</td><td>1-3/4<br>7/8<br>3<br>2-3/4</td><td>3/15/42<br>1/15/42<br>1/15/42-47<br>3/1/42-47</td><td>6/15/37<br>2/15/39<br>1/15/35<br>3/1/35</td></tr><tr><td>2/13<br>1/6<br>5/4<br>5/14</td><td>2/25<br>4/15<br>5/15<br>5/15</td><td>2/25/42<br>4/15/42<br>5/15/48<br>5/15/42</td><td>-1/2 T6/-</td><td>2-1/4 T<br>2-1/2 T<br>?</td><td>6/15/52-55<br>11/1/42<br>6/15/62-67<br>9/15/49-51</td><td>10<br>-<br>20<br>7</td><td>3-2/3<br>-<br>1-1/3<br>4</td><td>13<br>-<br>25<br>9</td><td>3-2/3<br>-<br>1-1/3<br>4</td><td>1,511<br>1,507<br>882<br>1,292</td><td>1,511<br>1,507<br>882<br>1,292</td><td>-</td><td>-</td><td>4,697<br>3,062<br>882<br>3,283</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>5/25</td><td>6/15</td><td>6/15/42</td><td>1-1/2T</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>RPC 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>9/21<br>10/10<br>10/18<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>5/15/42<br>8/15/42<br>9/21/42<br>9/25/42<br>6/15/42<br>10/19/42<br>11/2/42</td><td>5/8 T6/-<br>-<br>7/8 T6/-<br>1-1/4 T<br>1-1/2T<br>2<br>7/8 T6/-</td><td>2<br>2-1/2 T<br>?</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>-<br>7<br>20<br>-<br>-<br>-<br>7<br>-</td><td>-<br>5<br>1-1/3<br>-<br>-<br>-<br>5<br>-</td><td>7<br>9<br>25<br>-<br>2<br>4<br>9<br>1</td><td>7<br>5<br>1-1/3<br>-<br>7-1/3<br>2<br>6-1/3<br>5<br>-</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></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>-</td><td>2-1/2 T<br>1-3/4 T</td><td>12/15/63-68<br>6/15/48<br>12/1/43</td><td>21<br>-<br>-</td><td>1/2<br>-<br>-</td><td>26<br>5<br>1</td><td>1/2<br>6-1/3<br>-</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>3,304<br>5,184</td><td>-</td><td>debtedness</td><td>1/2</td><td>11/1/42<br>4/15/42</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>7/8T 6/-</td><td>-</td><td>2/1/44</td><td>-</td><td>1</td><td>-</td><td>2,211</td><td>2,211 1/</td><td>-</td><td>-</td><td>6,402</td><td>Ctf. 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 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>7/8T 6/-</td><td>2-1/2 T</td><td>6/15/64-69</td><td>21 2</td><td>26</td><td>2</td><td>3,762</td><td>3,762</td><td>-</td><td>-</td><td>3,762</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>7/8T 6/-</td><td>-</td><td>4/1/44</td><td>-</td><td>-</td><td>11-1/2</td><td>5,251</td><td>5,251</td><td>-</td><td>1,373 5/</td><td>12,895</td><td>Ctf. of indebtedness</td><td>.65</td><td>5/1/43</td><td>9/21/42</td></tr><tr><td>4/19</td><td>5/1</td><td>5/1/43</td><td>7/8T 6/-</td><td>-</td><td>5/1/44</td><td>-</td><td>1</td><td>-</td><td>1,655</td><td>-</td><td>-</td><td>282 5/</td><td>19,544</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>4</td><td>2</td><td>2,707</td><td>2,707</td><td>-</td><td>1,556</td><td>5,484</td><td>Ctf. of indebtedness</td><td>7/8</td><td>8/1/43</td><td>8/15/42</td></tr><tr><td>7/22</td><td>8/2</td><td>8/2/43</td><td>7/8T 6/-</td><td>-</td><td>8/1/44</td><td>-</td><td>1</td><td>-</td><td>2,545</td><td>989</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/9</td><td>9/15</td><td>9/15/43</td><td>-</td><td>2-1/2 T</td><td>12/15/64-69</td><td>21 3</td><td>26</td><td>3</td><td>3,778p</td><td>3,778p</td><td>-</td><td>-</td><td>3,778p</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/9</td><td>9/15</td><td>9/15/43</td><td>-</td><td>2 T</td><td>9/15/51-53</td><td>8</td><td>10</td><td>-</td><td>5,261p</td><td>5,261p</td><td>-</td><td>-</td><td>5,261p</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/9</td><td>9/15</td><td>9/15/43</td><td>7/8T 6/-</td><td>-</td><td>9/1/44</td><td>-</td><td>-</td><td>11-1/2</td><td>4,121p</td><td>4,121p</td><td>-</td><td>-</td><td>4,121p</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/6</td><td>10/15</td><td>10/15/43</td><td>7/8T 6/-</td><td>-</td><td>10/1/44</td><td>-</td><td>-</td><td>11-1/2</td><td>3,516p</td><td>1,580p</td><td>-</td><td>1,936 p</td><td>5,390p</td><td>Ctf. of indebtedness</td><td>7/8</td><td>11/1/43</td><td>11/2/42</td></tr><tr><td>10/6</td><td>10/15</td><td>9/15/43 4/</td><td>-</td><td>2-1/2 T</td><td>12/15/64-69</td><td>21 3</td><td>26</td><td>3</td><td>59p</td><td>-</td><td>-</td><td>59 p</td><td>5,532p</td><td>Trease. bond</td><td>3-1/4</td><td>10/15/43-45</td><td>10/15/33</td></tr><tr><td>10/6</td><td>10/15</td><td>9/15/43 5/</td><td>-</td><td>2 T</td><td>9/15/51-53</td><td>8</td><td>10</td><td>-</td><td>2,728p</td><td>1,627p</td><td>-</td><td>1,101 p</td><td>-</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 64.
2/ Unless otherwise indicated, each offering was at par.
3/ The amounts shown in this column were sold to Government investment accounts direct from amounts set aside for this purpose.
4/ Additional offering at 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/ Certificates of indebtedness.
7/ Issued primarily for refunding maturing security.
41
Offerings and Maturities of Treasury Bills, Beginning September 1, 1942
<table><tr><th>Date of new issue or of maturity of old issue</th><th colspan="2">Maturity date</th><th>Number of days to maturity</th><th>Amount of cash subscribed (in millions of dollars)</th><th colspan="3">Bids accepted</th><th>Amount of maturing issue (in millions of dollars)</th><th>Total bills outstanding (as of date shown in first column) (in millions of dollars)</th></tr><tr><th></th><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 1/2 (Percent)</th><th></th><th></th></tr><tr><td>1942-Sept. 2</td><td>1942-Dec. 2</td><td>91</td><td>872.9</td><td>350.9</td><td>99.907</td><td>0.367</td><td>251.3</td><td>4,267.7</td></tr><tr><td>Sept. 9</td><td>Dec. 9</td><td>91</td><td>709.8</td><td>351.2</td><td>99.907</td><td>0.368</td><td>300.8</td><td>4,318.2</td></tr><tr><td>Sept. 16</td><td>Dec. 16</td><td>91</td><td>882.3</td><td>402.1</td><td>99.907</td><td>0.369</td><td>301.0</td><td>4,419.2</td></tr><tr><td>Sept. 17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>301.1</td><td>4,113.1</td></tr><tr><td>Sept. 23</td><td>Dec. 23</td><td>91</td><td>797.1</td><td>401.5</td><td>99.906</td><td>0.370</td><td>-</td><td>4,519.7</td></tr><tr><td>Sept. 30</td><td>Dec. 30</td><td>91</td><td>725.6</td><td>401.1</td><td>99.906</td><td>0.373</td><td>301.9</td><td>4,618.9</td></tr><tr><td>Oct. 7</td><td>1943-Jan. 6</td><td>91</td><td>773.2</td><td>400.2</td><td>99.907</td><td>0.369</td><td>300.1</td><td>4,719.0</td></tr><tr><td>Oct. 14</td><td>Jan. 13</td><td>91</td><td>713.1</td><td>400.4</td><td>99.906</td><td>0.373</td><td>301.2</td><td>4,818.2</td></tr><tr><td>Oct. 21</td><td>Jan. 20</td><td>91</td><td>984.8</td><td>505.1</td><td>99.906</td><td>0.373</td><td>351.9</td><td>4,971.5</td></tr><tr><td>Oct. 28</td><td>Jan. 27</td><td>91</td><td>893.2</td><td>504.6</td><td>99.906</td><td>0.373</td><td>350.3</td><td>5,125.7</td></tr><tr><td>Nov. 4</td><td>Feb. 3</td><td>91</td><td>905.7</td><td>500.1</td><td>99.906</td><td>0.373</td><td>352.6</td><td>5,273.3</td></tr><tr><td>Nov. 12</td><td>Feb. 10</td><td>90</td><td>1,013.2</td><td>501.4</td><td>99.907</td><td>0.373</td><td>350.7</td><td>5,424.0</td></tr><tr><td>Nov. 18</td><td>Feb. 17</td><td>91</td><td>1,157.4</td><td>501.5</td><td>99.906</td><td>0.371</td><td>352.4</td><td>5,573.2</td></tr><tr><td>Nov. 25</td><td>Feb. 24</td><td>91</td><td>1,149.2</td><td>501.2</td><td>99.907</td><td>0.370</td><td>353.0</td><td>5,721.4</td></tr><tr><td>Dec. 2</td><td>Mar. 3</td><td>91</td><td>1,220.3</td><td>503.2</td><td>99.907</td><td>0.368</td><td>350.9</td><td>5,873.8</td></tr><tr><td>Dec. 9</td><td>Mar. 10</td><td>91</td><td>1,222.9</td><td>504.8</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>1,220.8</td><td>601.1</td><td>99.908</td><td>0.363</td><td>401.5</td><td>6,425.6</td></tr><tr><td>Dec. 30</td><td>Mar. 31</td><td>91</td><td>930.3</td><td>603.0</td><td>99.908</td><td>0.365</td><td>401.1</td><td>6,527.5</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>99.910</td><td>0.357</td><td>400.2</td><td>6,827.4</td></tr><tr><td>Jan. 13</td><td>Apr. 14</td><td>91</td><td>1,228.7</td><td>601.5</td><td>99.908</td><td>0.363</td><td>400.4</td><td>7,028.5</td></tr><tr><td>Jan. 20</td><td>Apr. 21</td><td>91</td><td>1,306.7</td><td>701.5</td><td>99.907</td><td>0.366</td><td>505.1</td><td>7,225.0</td></tr><tr><td>Jan. 27</td><td>Apr. 28</td><td>91</td><td>1,016.7</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>707.8</td><td>99.906</td><td>0.372</td><td>501.4</td><td>7,830.3</td></tr><tr><td>Feb. 17</td><td>May 19</td><td>91</td><td>1,114.2</td><td>703.0</td><td>99.906</td><td>0.373</td><td>501.5</td><td>8,032.4</td></tr><tr><td>Feb. 24</td><td>May 26</td><td>91</td><td>1,054.7</td><td>700.8</td><td>99.906</td><td>0.374</td><td>501.2</td><td>8,231.9</td></tr><tr><td>Mar. 3</td><td>June 2</td><td>91</td><td>1,394.5</td><td>701.3</td><td>99.907</td><td>0.369</td><td>503.2</td><td>8,430.0</td></tr><tr><td>Mar. 10</td><td>June 9</td><td>91</td><td>1,382.3</td><td>705.3</td><td>99.906</td><td>0.371</td><td>504.8</td><td>8,630.4</td></tr><tr><td>Mar. 17</td><td>June 16</td><td>91</td><td>1,302.7</td><td>802.2</td><td>99.906</td><td>0.373</td><td>600.3</td><td>8,831.8</td></tr><tr><td>Mar. 24</td><td>June 23</td><td>91</td><td>1,329.9</td><td>802.1</td><td>99.906</td><td>0.373</td><td>601.1</td><td>9,032.7</td></tr><tr><td>Mar. 31</td><td>June 30</td><td>91</td><td>1,101.1</td><td>805.1</td><td>99.906</td><td>0.374</td><td>603.0</td><td>9,234.4</td></tr><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>1,359.5</td><td>804.0</td><td>99.906</td><td>0.373</td><td>601.5</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>1,305.8</td><td>1,005.8</td><td>99.904</td><td>0.374</td><td>805.1</td><td>11,863.9</td></tr><tr><td>July 7</td><td>Oct. 7</td><td>92</td><td>1,176.4</td><td>1,003.1</td><td>99.904</td><td>0.375</td><td>804.7</td><td>12,062.5</td></tr><tr><td>July 14</td><td>Oct. 14</td><td>92</td><td>1,345.5</td><td>1,001.2</td><td>99.904</td><td>0.374</td><td>804.0</td><td>12,259.7</td></tr><tr><td>July 21</td><td>Oct. 21</td><td>92</td><td>1,520.3</td><td>1,003.7</td><td>99.905</td><td>0.374</td><td>904.7</td><td>12,358.7</td></tr><tr><td>July 28</td><td>Oct. 28</td><td>92</td><td>1,373.8</td><td>1,002.8</td><td>99.904</td><td>0.374</td><td>901.8</td><td>12,459.4</td></tr><tr><td>Aug. 4</td><td>Nov. 4</td><td>92</td><td>1,408.9</td><td>1,005.8</td><td>99.904</td><td>0.374</td><td>901.8</td><td>12,563.8</td></tr><tr><td>Aug. 12</td><td>Nov. 12</td><td>92</td><td>1,419.0</td><td>994.7</td><td>99.904</td><td>0.374</td><td>907.0</td><td>12,651.5</td></tr><tr><td>Aug. 19</td><td>Nov. 18</td><td>91</td><td>1,420.5</td><td>1,005.3</td><td>99.905</td><td>0.375</td><td>907.8</td><td>12,749.0</td></tr><tr><td>Aug. 26</td><td>Nov. 26</td><td>92</td><td>1,277.9</td><td>1,002.3</td><td>99.904</td><td>0.374</td><td>905.4</td><td>12,846.0</td></tr><tr><td>Sept. 2</td><td>Dec. 2</td><td>91</td><td>1,177.6</td><td>1,001.8</td><td>99.905</td><td>0.375</td><td>906.0</td><td>12,941.8</td></tr><tr><td>Sept. 9</td><td>Dec. 9</td><td>91</td><td>1,281.2</td><td>1,004.9</td><td>99.905</td><td>0.375</td><td>908.7</td><td>13,038.0</td></tr><tr><td>Sept. 16</td><td>Dec. 16</td><td>91</td><td>1,535.6</td><td>1,008.6</td><td>99.905</td><td>0.374</td><td>1,000.5</td><td>13,046.2</td></tr><tr><td>Sept. 23</td><td>Dec. 23</td><td>91</td><td>1,498.8</td><td>1,017.7</td><td>99.906</td><td>0.374</td><td>1,006.1</td><td>13,057.8</td></tr><tr><td>Sept. 30</td><td>Dec. 30</td><td>91</td><td>1,337.7</td><td>1,003.0</td><td>99.905</td><td>0.375</td><td>1,005.8</td><td>13,054.1</td></tr></table>
Source: Data on new issues come from Public Debt Service; amount of maturing issue and total bills outstanding are on Daily Treasury Statement basis.
Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
42
Sales of United States Savings Bonds
Table 1.- Summary of Sales and Redemptions, by Series
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Amount outstanding end of fiscal year or month 1/</th><th rowspan="2">Net change during fiscal year or month</th><th colspan="3">Gross sales</th><th colspan="3">Analysis of net change</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>Accrual of redemption values</th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr></table>
All series 4/
<table><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>315.1</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>1.3</td></tr><tr><td>1939</td><td>1,868.1</td><td>+630.5</td><td>684.5</td><td>-</td><td>684.5</td><td>28.0</td><td>82.0</td><td>80.0</td><td>2.0</td></tr><tr><td>1940</td><td>2,904.7</td><td>+1,036.6</td><td>1,108.7</td><td>-</td><td>1,108.7</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.4</td></tr><tr><td>1941</td><td>4,314.0</td><td>+1,409.3</td><td>1,492.4</td><td>-65.1</td><td>1,557.5</td><td>65.0</td><td>148.1</td><td>142.8</td><td>5.3</td></tr><tr><td>1942</td><td>10,188.2</td><td>+5,874.2</td><td>5,994.1</td><td>-12.8</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>+111.1</td><td>11,677.6</td><td>127.6</td><td>848.3</td><td>5/</td><td>5/</td></tr><tr><td>1942-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>+7.7</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>102.1</td><td>.7</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>103.3</td><td>.6</td></tr><tr><td>June</td><td>21,256.2</td><td>+748.8</td><td>875.5</td><td>+29.9</td><td>845.6</td><td>14.4</td><td>141.1</td><td>5/</td><td>5/</td></tr><tr><td>July</td><td>22,030.2</td><td>+774.1</td><td>889.7</td><td>-16.7</td><td>906.4</td><td>22.6</td><td>138.2</td><td>5/</td><td>5/</td></tr><tr><td>August</td><td>22,693.5</td><td>+663.3</td><td>801.7</td><td>+8.1</td><td>793.6</td><td>13.6</td><td>152.0</td><td>5/</td><td>5/</td></tr><tr><td>September</td><td>24,478.4</td><td>+1,784.9</td><td>1,926.6</td><td>+136.7 p</td><td>1,789.8 p</td><td>13.6</td><td>155.3</td><td>5/</td><td>5/</td></tr></table>
Series A-D
<table><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>-</td><td>264.0</td><td>1.2</td><td>11.2</td><td>11.1</td><td>*</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>-</td><td>512.6</td><td>7.2</td><td>36.2</td><td>35.9</td><td>.3</td></tr><tr><td>1938</td><td>1,237.7</td><td>+438.0</td><td>487.5</td><td>-</td><td>487.5</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,868.1</td><td>+630.5</td><td>684.5</td><td>-</td><td>684.5</td><td>28.0</td><td>82.0</td><td>80.0</td><td>2.0</td></tr><tr><td>1940</td><td>2,904.7</td><td>+1,036.6</td><td>1,108.7</td><td>-</td><td>1,108.7</td><td>42.1</td><td>114.3</td><td>110.8</td><td>3.4</td></tr><tr><td>1941</td><td>3,650.2</td><td>+745.5</td><td>828.0</td><td>-</td><td>828.0</td><td>65.0</td><td>147.5</td><td>142.2</td><td>5.3</td></tr><tr><td>1942</td><td>3,604.2</td><td>-46.1</td><td>.8</td><td>-</td><td>.8</td><td>85.9</td><td>132.7</td><td>126.2</td><td>6.5</td></tr><tr><td>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-September</td><td>3,606.3</td><td>-2.9</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>6.8</td><td>.6</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>5.9</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><tr><td>July</td><td>3,614.8</td><td>+6.8</td><td>-</td><td>-</td><td>-</td><td>13.6</td><td>6.8</td><td>5/</td><td>5/</td></tr><tr><td>August</td><td>3,615.3</td><td>+5</td><td>*</td><td>-</td><td>*</td><td>7.6</td><td>7.1</td><td>5/</td><td>5/</td></tr><tr><td>September</td><td>3,615.6</td><td>+3</td><td>*</td><td>-</td><td>*</td><td>7.0</td><td>6.8</td><td>5/</td><td>5/</td></tr></table>
(Continued on following page)
43
Sales of United States Savings Bonds - (Continued)
Table 1.- Summary of Sales and Redemptions, by Series - (Continued)
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Amount outstanding end of fiscal year or month 1/</th><th rowspan="2">Net change during fiscal year or month</th><th colspan="3">Groce sales</th><th colspan="3">Analysis of net change</th><th colspan="2">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>Accrual of redemption values</th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr><tr><td colspan="11">Series E</td></tr><tr><td>1941.</td><td>203.1</td><td>+203.1</td><td>203.1</td><td>*</td><td>203.1</td><td>-</td><td>*</td><td>*</td><td>-</td></tr><tr><td>1942.</td><td>3,670.8</td><td>+3,467.7</td><td>3,526.3</td><td>-15.0</td><td>3,541.3</td><td>1.5</td><td>60.0</td><td>60.0</td><td>-</td></tr><tr><td>1943.</td><td>11,286.6</td><td>+7,615.8</td><td>8,271.3</td><td>+90.7</td><td>8,180.5</td><td>33.1</td><td>688.6</td><td>688.0</td><td>.6</td></tr><tr><td>1942-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>-23.8</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>+27.4</td><td>668.8</td><td>6.5</td><td>125.1</td><td>125.0</td><td>.1</td></tr><tr><td>July.</td><td>11,857.8</td><td>+571.1</td><td>682.9</td><td>-26.1</td><td>709.0</td><td>8.4</td><td>120.1</td><td>120.0</td><td>.2</td></tr><tr><td>August.</td><td>12,390.6</td><td>+532.8</td><td>661.2</td><td>+3.5</td><td>657.7</td><td>5.6</td><td>134.0</td><td>133.8</td><td>.2</td></tr><tr><td>September.</td><td>13,660.0</td><td>+1,269.5</td><td>1,400.2</td><td>+148.7 p</td><td>1,251.4 p</td><td>6.1</td><td>136.8</td><td>136.5</td><td>.2</td></tr><tr><td colspan="11">Series F</td></tr><tr><td>1941.</td><td>66.6</td><td>+66.6</td><td>66.7</td><td>-.3</td><td>75.0</td><td>-</td><td>*</td><td>*</td><td>-</td></tr><tr><td>1942.</td><td>498.9</td><td>+432.3</td><td>434.9</td><td>-2.0</td><td>437.0</td><td>.2</td><td>2.9</td><td>2.9</td><td>-</td></tr><tr><td>1943.</td><td>1,242.3</td><td>+743.4</td><td>757.9</td><td>+11.0</td><td>746.9</td><td>2.5</td><td>17.0</td><td>5/</td><td>5/</td></tr><tr><td>1942-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>48.3</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>1.8</td><td>*</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>2.8</td><td>*</td></tr><tr><td>June.</td><td>1,242.3</td><td>+32.8</td><td>35.1</td><td>+5</td><td>34.6</td><td>.4</td><td>2.8</td><td>5/</td><td>5/</td></tr><tr><td>July.</td><td>1,277.7</td><td>+35.4</td><td>37.6</td><td>+2.0</td><td>35.6</td><td>.7</td><td>2.8</td><td>5/</td><td>5/</td></tr><tr><td>August.</td><td>1,302.7</td><td>+24.9</td><td>28.1</td><td>+1.3</td><td>26.8</td><td>.4</td><td>3.5</td><td>5/</td><td>5/</td></tr><tr><td>September.</td><td>1,439.4</td><td>+136.7</td><td>139.0</td><td>-3.9 p</td><td>142.9 p</td><td>.4</td><td>2.7</td><td>5/</td><td>5/</td></tr><tr><td colspan="11">Series G</td></tr><tr><td>1941.</td><td>394.0</td><td>+394.0</td><td>394.6</td><td>-56.8</td><td>451.4</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1942.</td><td>2,414.3</td><td>+2,020.3</td><td>2,032.1</td><td>+4.3</td><td>2,027.8</td><td>-</td><td>11.8</td><td>11.8</td><td>-</td></tr><tr><td>1943.</td><td>5,119.2</td><td>+2,704.9</td><td>2,759.5</td><td>+9.4</td><td>2,750.1</td><td>-</td><td>54.5</td><td>54.5</td><td>-</td></tr><tr><td>1942-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>+144.3</td><td>348.4</td><td>+2.5</td><td>345.9</td><td>-</td><td>4.2</td><td>4.2</td><td>-</td></tr><tr><td>February.</td><td>4,214.0</td><td>+200.3</td><td>205.3</td><td>-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>4,388.9</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>+147.5</td><td>153.4</td><td>+40.3</td><td>393.8</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>219.8</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>+1.9</td><td>142.2</td><td>-</td><td>6.9</td><td>6.9</td><td>-</td></tr><tr><td>July.</td><td>5,280.0</td><td>+160.8</td><td>169.2</td><td>+7.5</td><td>161.8</td><td>-</td><td>8.5</td><td>8.5</td><td>-</td></tr><tr><td>August.</td><td>5,385.0</td><td>+105.0</td><td>112.4</td><td>+3.3</td><td>109.1</td><td>-</td><td>7.4</td><td>7.4</td><td>-</td></tr><tr><td>September.</td><td>5,763.4</td><td>+378.4</td><td>387.4</td><td>-8.1 p</td><td>395.5 p</td><td>-</td><td>9.0</td><td>9.0</td><td>-</td></tr></table>
Source: Daily Treasury Statements and reports of gross sales.
p. Preliminary.
1/ Less than $50,000.
1/ At current redemption values except Series G, which is stated at par. Unclassified sales shown in the Daily Treasury Statement have been classified by series.
2/ Series A-D data are shown only on a funds received basis. Series E data are not available on a sales reported basis prior to July 1941; consequently data for the fiscal year 1941 are on a funds received basis.
3/ Estimated, except for Series G.
4/ Series A-D, the sale of which commenced in March 1935 and continued through April 1941, are 10 year discount bonds which were sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; 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. For further details concerning redemption values and investment yields, see "Treasury Bulletin" for August 1943, page 4. Not yet available.
LL
Sales of United States Savings Bonds - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="7">Sales in millions of dollars at issue price</th><th colspan="7">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><td colspan="16">Series I</td></tr><tr><td>1941 1/</td><td>203.1</td><td>14.4</td><td>13.3</td><td>41.4</td><td>40.7</td><td>93.4</td><td>.....</td><td>.....</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 2/</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</td><td>8,180.5</td><td>2,951.8</td><td>1,068.4</td><td>1,695.2</td><td>997.6</td><td>1,467.5</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-September</td><td>546.1</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</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>81.1</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>185.3</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</td><td>668.8</td><td>287.5</td><td>98.8</td><td>128.0</td><td>64.3</td><td>90.1</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><tr><td>July</td><td>709.0</td><td>301.4</td><td>103.0</td><td>134.1</td><td>69.8</td><td>100.7</td><td>.....</td><td>.....</td><td>100.0</td><td>42.5</td><td>14.5</td><td>18.9</td><td>9.9</td><td>14.2</td><td>.....</td><td>.....</td></tr><tr><td>August</td><td>657.7</td><td>283.2</td><td>101.5</td><td>125.0</td><td>59.8</td><td>82.2</td><td>.....</td><td>.....</td><td>100.0</td><td>44.0</td><td>15.4</td><td>19.0</td><td>9.1</td><td>12.5</td><td>.....</td><td>.....</td></tr><tr><td>September p</td><td>1,251.4</td><td>336.5</td><td>142.0</td><td>304.0</td><td>197.1</td><td>271.8</td><td>.....</td><td>.....</td><td>100.0</td><td>26.9</td><td>11.3</td><td>24.3</td><td>15.8</td><td>21.7</td><td>.....</td><td>.....</td></tr><tr><td colspan="16">Series F</td></tr><tr><td>1941 1/</td><td>75.0</td><td>.....</td><td>.....</td><td>.9</td><td>2.1</td><td>14.2</td><td>13.6</td><td>44.2</td><td>100.0</td><td>.....</td><td>.....</td><td>1.2</td><td>2.8</td><td>18.9</td><td>18.2</td><td>58.9</td></tr><tr><td>1942 2/</td><td>437.0</td><td>1.3</td><td>.....</td><td>19.3</td><td>27.4</td><td>123.7</td><td>92.0</td><td>173.4</td><td>100.0</td><td>.3</td><td>.....</td><td>4.4</td><td>6.3</td><td>28.3</td><td>21.0</td><td>39.7</td></tr><tr><td>1943</td><td>746.9</td><td>3.9</td><td>.....</td><td>24.1</td><td>39.6</td><td>205.7</td><td>167.3</td><td>306.5</td><td>100.0</td><td>.5</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-September</td><td>69.2</td><td>.2</td><td>.....</td><td>1.8</td><td>3.4</td><td>19.2</td><td>14.6</td><td>30.0</td><td>100.0</td><td>.3</td><td>.....</td><td>2.6</td><td>4.9</td><td>27.7</td><td>21.1</td><td>43.4</td></tr><tr><td>October</td><td>49.5</td><td>.2</td><td>.....</td><td>1.9</td><td>3.1</td><td>15.5</td><td>12.2</td><td>16.6</td><td>100.0</td><td>.4</td><td>.....</td><td>3.8</td><td>6.3</td><td>31.3</td><td>24.6</td><td>33.6</td></tr><tr><td>November</td><td>41.9</td><td>.2</td><td>.....</td><td>1.6</td><td>2.6</td><td>13.5</td><td>10.0</td><td>13.9</td><td>100.0</td><td>.5</td><td>.....</td><td>3.9</td><td>6.1</td><td>32.3</td><td>24.0</td><td>33.2</td></tr><tr><td>December</td><td>65.1</td><td>.5</td><td>.....</td><td>2.6</td><td>3.9</td><td>19.7</td><td>15.4</td><td>22.9</td><td>100.0</td><td>.7</td><td>.....</td><td>4.0</td><td>6.1</td><td>30.3</td><td>23.7</td><td>35.2</td></tr><tr><td>1943-January</td><td>75.6</td><td>.3</td><td>.....</td><td>2.1</td><td>3.2</td><td>16.3</td><td>14.8</td><td>38.8</td><td>100.0</td><td>.5</td><td>.....</td><td>2.7</td><td>4.3</td><td>21.5</td><td>19.6</td><td>51.4</td></tr><tr><td>February</td><td>50.9</td><td>.3</td><td>.....</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>.....</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>.....</td><td>1.6</td><td>2.5</td><td>11.7</td><td>9.5</td><td>18.1</td><td>100.0</td><td>.7</td><td>.....</td><td>3.7</td><td>5.6</td><td>26.7</td><td>21.8</td><td>41.5</td></tr><tr><td>April</td><td>120.8</td><td>.5</td><td>.....</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>.....</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>.....</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>.....</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</td><td>34.6</td><td>.4</td><td>.....</td><td>1.5</td><td>2.2</td><td>11.0</td><td>8.9</td><td>10.7</td><td>100.0</td><td>1.0</td><td>.....</td><td>4.2</td><td>6.3</td><td>31.9</td><td>25.6</td><td>31.0</td></tr><tr><td>July</td><td>35.6</td><td>.2</td><td>.....</td><td>1.2</td><td>2.2</td><td>11.4</td><td>8.5</td><td>12.0</td><td>100.0</td><td>.7</td><td>.....</td><td>3.4</td><td>6.2</td><td>32.1</td><td>23.8</td><td>33.8</td></tr><tr><td>August</td><td>26.8</td><td>.2</td><td>.....</td><td>1.0</td><td>1.9</td><td>9.3</td><td>6.2</td><td>8.1</td><td>100.0</td><td>.7</td><td>.....</td><td>3.9</td><td>7.2</td><td>34.8</td><td>23.0</td><td>30.4</td></tr><tr><td>September p</td><td>142.9</td><td>.6</td><td>.....</td><td>3.8</td><td>7.1</td><td>47.5</td><td>37.2</td><td>46.1</td><td>100.0</td><td>.4</td><td>.....</td><td>2.7</td><td>5.4</td><td>33.3</td><td>26.0</td><td>32.2</td></tr><tr><td colspan="16">Series O</td></tr><tr><td>1941 1/</td><td>451.4</td><td>.....</td><td>.....</td><td>5.2</td><td>12.2</td><td>90.7</td><td>80.9</td><td>262.4</td><td>100.0</td><td>.....</td><td>.....</td><td>1.2</td><td>2.7</td><td>20.1</td><td>17.9</td><td>58.1</td></tr><tr><td>1942</td><td>2,027.8</td><td>.....</td><td>.....</td><td>50.6</td><td>112.7</td><td>576.0</td><td>403.5</td><td>835.0</td><td>100.0</td><td>.....</td><td>.....</td><td>2.5</td><td>5.6</td><td>28.4</td><td>19.9</td><td>43.6</td></tr><tr><td>1943</td><td>2,750.1</td><td>.....</td><td>.....</td><td>80.6</td><td>187.2</td><td>800.2</td><td>524.4</td><td>1,157.7</td><td>100.0</td><td>.....</td><td>.....</td><td>2.9</td><td>6.8</td><td>29.1</td><td>19.1</td><td>42.1</td></tr><tr><td>1942-September</td><td>213.0</td><td>.....</td><td>.....</td><td>5.7</td><td>13.0</td><td>60.9</td><td>45.8</td><td>87.7</td><td>100.0</td><td>.....</td><td>.....</td><td>2.7</td><td>6.1</td><td>28.6</td><td>21.5</td><td>41.1</td></tr><tr><td>October</td><td>169.2</td><td>.....</td><td>.....</td><td>5.4</td><td>12.0</td><td>53.9</td><td>36.4</td><td>61.5</td><td>100.0</td><td>.....</td><td>.....</td><td>3.2</td><td>7.1</td><td>31.8</td><td>21.5</td><td>36.4</td></tr><tr><td>November</td><td>141.6</td><td>.....</td><td>.....</td><td>5.0</td><td>10.5</td><td>47.3</td><td>30.3</td><td>48.5</td><td>100.0</td><td>.....</td><td>.....</td><td>3.5</td><td>7.4</td><td>33.4</td><td>21.4</td><td>34.3</td></tr><tr><td>December</td><td>227.4</td><td>.....</td><td>.....</td><td>7.4</td><td>16.7</td><td>70.2</td><td>48.1</td><td>84.9</td><td>100.0</td><td>.....</td><td>.....</td><td>3.2</td><td>7.3</td><td>30.9</td><td>21.2</td><td>37.4</td></tr><tr><td>1943-January</td><td>345.9</td><td>.....</td><td>.....</td><td>7.4</td><td>19.1</td><td>80.1</td><td>52.5</td><td>186.7</td><td>100.0</td><td>.....</td><td>.....</td><td>2.1</td><td>5.5</td><td>23.2</td><td>15.2</td><td>54.0</td></tr><tr><td>February</td><td>206.4</td><td>.....</td><td>.....</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>.....</td><td>.....</td><td>2.6</td><td>6.1</td><td>26.2</td><td>16.5</td><td>48.6</td></tr><tr><td>March</td><td>181.2</td><td>.....</td><td>.....</td><td>5.5</td><td>13.0</td><td>55.2</td><td>32.6</td><td>74.9</td><td>100.0</td><td>.....</td><td>.....</td><td>3.1</td><td>7.2</td><td>30.4</td><td>18.0</td><td>41.3</td></tr><tr><td>April</td><td>393.8</td><td>.....</td><td>.....</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>.....</td><td>.....</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>.....</td><td>.....</td><td>9.5</td><td>21.6</td><td>79.1</td><td>44.4</td><td>65.1</td><td>100.0</td><td>.....</td><td>.....</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</td><td>142.2</td><td>.....</td><td>.....</td><td>5.0</td><td>12.1</td><td>49.4</td><td>30.1</td><td>45.5</td><td>100.0</td><td>.....</td><td>.....</td><td>3.5</td><td>8.5</td><td>34.8</td><td>21.2</td><td>32.0</td></tr><tr><td>July</td><td>161.8</td><td>.....</td><td>.....</td><td>5.4</td><td>14.2</td><td>60.1</td><td>34.7</td><td>47.4</td><td>100.0</td><td>.....</td><td>.....</td><td>3.3</td><td>8.7</td><td>37.2</td><td>21.5</td><td>29.3</td></tr><tr><td>August</td><td>109.1</td><td>.....</td><td>.....</td><td>4.4</td><td>10.2</td><td>41.3</td><td>22.8</td><td>30.4</td><td>100.0</td><td>.....</td><td>.....</td><td>4.1</td><td>9.3</td><td>37.8</td><td>20.9</td><td>27.9</td></tr><tr><td>September p</td><td>395.5</td><td>.....</td><td>.....</td><td>17.7</td><td>39.5</td><td>153.1</td><td>87.6</td><td>97.6</td><td>100.0</td><td>.....</td><td>.....</td><td>4.5</td><td>10.0</td><td>38.7</td><td>22.1</td><td>24.7</td></tr></table>
Source: Reports of Gross sales p Preliminary.
1/ Sales of Series Y, P, and O bonds commenced May 1, 1941.
2/ Sale of $25 denomination Series P bonds began in January 1942.
45
Sales of United States Savings Bonds - (Continued)
c. Sales Reported by Series, Classified by States
PART A - SERIES E
(in thousands, except at issue prices)
<table><tr><th>State</th><th colspan="4">Fiscal year 1942</th><th colspan="10">Fiscal year 1943</th></tr><tr><th></th><th>1942</th><th>1943</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><th>July</th><th>Aug.</th><th>Sept. p.</th></tr><tr><td>Alabama</td><td>28,996</td><td>91,272</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><td>7,728</td><td>6,395</td><td>15,600</td></tr><tr><td>Arizona</td><td>10,313</td><td>27,846</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><td>2,450</td><td>2,174</td><td>5,100</td></tr><tr><td>Arkansas</td><td>21,404</td><td>52,764</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><td>3,431</td><td>3,547</td><td>9,800</td></tr><tr><td>California</td><td>260,592</td><td>638,877</td><td>41,004</td><td>44,829</td><td>36,526</td><td>56,102</td><td>63,819</td><td>51,828</td><td>56,514</td><td>75,703</td><td>82,735</td><td>59,222</td><td>62,525</td><td>62,392</td><td>88,400</td></tr><tr><td>Colorado</td><td>24,845</td><td>62,132</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><td>4,911</td><td>4,136</td><td>11,300</td></tr><tr><td>Connecticut</td><td>77,543</td><td>168,258</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><td>12,941</td><td>12,105</td><td>21,500</td></tr><tr><td>Delaware</td><td>7,629</td><td>21,824</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><td>1,524</td><td>1,596</td><td>3,500</td></tr><tr><td>Dist. of Columbia</td><td>34,827</td><td>83,143</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><td>9,609</td><td>8,856</td><td>10,400</td></tr><tr><td>Florida</td><td>39,565</td><td>89,496</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><td>8,702</td><td>8,268</td><td>13,000</td></tr><tr><td>Georgia</td><td>35,642</td><td>94,524</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><td>7,670</td><td>7,534</td><td>14,900</td></tr><tr><td>Idaho</td><td>9,840</td><td>27,845</td><td>1,820</td><td>2,218</td><td>2,279</td><td>2,255</td><td>2,640</td><td>2,594</td><td>2,266</td><td>3,863</td><td>3,438</td><td>1,751</td><td>1,749</td><td>1,497</td><td>4,500</td></tr><tr><td>Illinois</td><td>282,055</td><td>575,056</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><td>47,266</td><td>43,125</td><td>77,800</td></tr><tr><td>Indiana</td><td>76,661</td><td>213,813</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><td>19,879</td><td>18,653</td><td>34,900</td></tr><tr><td>Iowa</td><td>69,558</td><td>176,508</td><td>10,924</td><td>10,733</td><td>10,692</td><td>20,145</td><td>18,288</td><td>12,426</td><td>13,270</td><td>23,975</td><td>17,815</td><td>12,455</td><td>13,964</td><td>12,402</td><td>35,900</td></tr><tr><td>Kansas</td><td>35,310</td><td>106,190</td><td>6,422</td><td>6,850</td><td>7,823</td><td>9,049</td><td>9,017</td><td>8,320</td><td>10,681</td><td>16,650</td><td>13,627</td><td>7,604</td><td>7,435</td><td>7,602</td><td>20,800</td></tr><tr><td>Kentucky</td><td>34,293</td><td>87,607</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>6,606</td><td>7,282</td><td>7,279</td><td>15,000</td></tr><tr><td>Louisiana</td><td>36,800</td><td>94,910</td><td>5,680</td><td>5,917</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><td>7,847</td><td>7,732</td><td>18,800</td></tr><tr><td>Maine</td><td>17,746</td><td>37,361</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><td>2,672</td><td>2,710</td><td>5,500</td></tr><tr><td>Maryland</td><td>49,009</td><td>108,604</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><td>9,186</td><td>8,332</td><td>16,200</td></tr><tr><td>Massachusetts</td><td>141,217</td><td>280,091</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><td>23,653</td><td>23,346</td><td>35,600</td></tr><tr><td>Michigan</td><td>160,150</td><td>481,637</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>40,537</td><td>39,446</td><td>37,538</td><td>75,100</td></tr><tr><td>Minnesota</td><td>71,181</td><td>179,108</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><td>12,222</td><td>10,057</td><td>39,600</td></tr><tr><td>Mississippi</td><td>22,973</td><td>52,870</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><td>3,252</td><td>3,249</td><td>14,100</td></tr><tr><td>Missouri</td><td>94,800</td><td>195,868</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><td>15,139</td><td>14,112</td><td>35,100</td></tr><tr><td>Montana</td><td>17,710</td><td>39,432</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><td>2,189</td><td>1,884</td><td>9,200</td></tr><tr><td>Nebraska</td><td>26,045</td><td>72,211</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><td>5,832</td><td>5,728</td><td>13,300</td></tr><tr><td>Nevada</td><td>4,340</td><td>11,466</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>748</td><td>783</td><td>576</td><td>1,800</td></tr><tr><td>New Hampshire</td><td>11,760</td><td>25,787</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><td>1,960</td><td>2,211</td><td>2,800</td></tr><tr><td>New Jersey</td><td>160,538</td><td>303,807</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><td>26,549</td><td>23,246</td><td>40,300</td></tr><tr><td>New Mexico</td><td>6,978</td><td>17,284</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><td>1,350</td><td>1,273</td><td>3,500</td></tr><tr><td>New York</td><td>587,249</td><td>991,988</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><td>80,838</td><td>69,363</td><td>135,100</td></tr><tr><td>North Carolina</td><td>42,297</td><td>113,869</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>8,205</td><td>8,166</td><td>7,913</td><td>18,200</td></tr><tr><td>North Dakota</td><td>11,394</td><td>34,349</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><td>1,947</td><td>1,542</td><td>8,300</td></tr><tr><td>Ohio</td><td>190,262</td><td>506,304</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><td>43,642</td><td>43,564</td><td>72,900</td></tr><tr><td>Oklahoma</td><td>34,482</td><td>82,143</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><td>6,439</td><td>6,385</td><td>15,600</td></tr><tr><td>Oregon</td><td>37,394</td><td>107,674</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><td>9,983</td><td>9,239</td><td>15,600</td></tr><tr><td>Pennsylvania</td><td>283,782</td><td>626,051</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><td>51,730</td><td>50,266</td><td>92,400</td></tr><tr><td>Rhode Island</td><td>24,293</td><td>53,748</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><td>3,763</td><td>3,760</td><td>6,200</td></tr><tr><td>South Carolina</td><td>18,782</td><td>53,401</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>4,015</td><td>4,554</td><td>4,536</td><td>8,800</td></tr><tr><td>South Dakota</td><td>11,783</td><td>33,171</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><td>2,231</td><td>1,713</td><td>9,200</td></tr><tr><td>Tennessee</td><td>36,734</td><td>100,530</td><td>7,485</td><td>6,766</td><td>6,791</td><td>8,818</td><td>10,956</td><td>7,833</td><td>7,922</td><td>13,059</td><td>11,008</td><td>7,708</td><td>7,689</td><td>7,821</td><td>16,600</td></tr><tr><td>Texas</td><td>126,056</td><td>306,265</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><td>25,653</td><td>22,334</td><td>65,200</td></tr><tr><td>Utah</td><td>9,919</td><td>33,242</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>2,992</td><td>3,136</td><td>3,572</td><td>5,500</td></tr><tr><td>Vermont</td><td>7,550</td><td>14,175</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><td>1,100</td><td>1,034</td><td>2,000</td></tr><tr><td>Virginia</td><td>56,272</td><td>145,459</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><td>11,186</td><td>12,126</td><td>17,600</td></tr><tr><td>Washington</td><td>57,962</td><td>163,924</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><td>15,782</td><td>15,483</td><td>22,400</td></tr><tr><td>West Virginia</td><td>27,642</td><td>64,583</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><td>5,374</td><td>5,494</td><td>9,100</td></tr><tr><td>Wisconsin</td><td>77,668</td><td>172,650</td><td>12,256</td><td>12,566</td><td>11,486</td><td>14,825</td><td>16,003</td><td>13,308</td><td>13,241</td><td>25,561</td><td>19,657</td><td>12,986</td><
(Continued on following page)
46
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States - (Continued)
PART B - SERIES F AND G COMBINED
In thousands of dollars at issue prices
<table><tr><th>State</th><th colspan="2">Fiscal year</th><th colspan="5">1942</th><th colspan="9">1943</th></tr><tr><th></th><th>1942</th><th>1943</th><th>Sept.</th><th>Oct.</th><th>Sov.</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th></tr><tr><td>Alabama</td><td>13,099</td><td>32,007</td><td>2,552</td><td>1,921</td><td>1,457</td><td>2,629</td><td>3,451</td><td>1,387</td><td>1,592</td><td>7,282</td><td>1,396</td><td>1,251</td><td>1,539</td><td>912</td><td>6,700</td></tr><tr><td>Arizona</td><td>4,232</td><td>8,421</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><td>532</td><td>405</td><td>1,800</td></tr><tr><td>Arkansas</td><td>13,738</td><td>16,578</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><td>1,082</td><td>542</td><td>4,400</td></tr><tr><td>California</td><td>140,602</td><td>224,145</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>12,106</td><td>19,915</td><td>16,099</td><td>40,200</td></tr><tr><td>Iorida</td><td>18,302</td><td>29,746</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><td>1,488</td><td>977</td><td>6,100</td></tr><tr><td>Connecticut</td><td>59,894</td><td>81,128</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><td>2,575</td><td>4,012</td><td>7,100</td></tr><tr><td>Delaware</td><td>11,910</td><td>12,326</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><td>1,063</td><td>410</td><td>1,400</td></tr><tr><td>Dist. of Columbia</td><td>23,247</td><td>33,757</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><td>1,595</td><td>1,041</td><td>5,300</td></tr><tr><td>Florida</td><td>22,219</td><td>36,705</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><td>2,792</td><td>1,594</td><td>5,800</td></tr><tr><td>Georgia</td><td>17,982</td><td>37,831</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><td>3,170</td><td>1,518</td><td>6,700</td></tr><tr><td>Idaho</td><td>7,339</td><td>8,031</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><td>349</td><td>224</td><td>1,300</td></tr><tr><td>Illinois</td><td>202,041</td><td>272,112</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><td>15,256</td><td>10,068</td><td>30,700</td></tr><tr><td>Iodiana</td><td>45,123</td><td>79,524</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><td>6,129</td><td>3,379</td><td>11,700</td></tr><tr><td>Iowa</td><td>30,676</td><td>71,432</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><td>5,031</td><td>3,360</td><td>13,800</td></tr><tr><td>Kansas</td><td>14,486</td><td>34,897</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><td>2,290</td><td>1,076</td><td>7,100</td></tr><tr><td>Kentucky</td><td>24,516</td><td>43,755</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><td>2,880</td><td>1,941</td><td>7,900</td></tr><tr><td>Louisiana</td><td>21,651</td><td>44,461</td><td>5,956</td><td>2,683</td><td>2,071</td><td>5,005</td><td>3,446</td><td>2,504</td><td>2,970</td><td>9,710</td><td>3,143</td><td>1,785</td><td>2,533</td><td>1,330</td><td>9,600</td></tr><tr><td>Maine</td><td>16,570</td><td>20,245</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><td>592</td><td>950</td><td>2,100</td></tr><tr><td>Maryland</td><td>40,093</td><td>55,252</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><td>3,025</td><td>1,940</td><td>8,900</td></tr><tr><td>Massachusetts</td><td>144,199</td><td>174,999</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><td>4,575</td><td>6,622</td><td>14,400</td></tr><tr><td>Michigan</td><td>65,040</td><td>106,363</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><td>5,110</td><td>4,290</td><td>20,800</td></tr><tr><td>Minnesota</td><td>49,069</td><td>69,692</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><td>3,699</td><td>1,847</td><td>12,400</td></tr><tr><td>Mississippi</td><td>10,061</td><td>21,812</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><td>1,093</td><td>515</td><td>5,900</td></tr><tr><td>Missouri</td><td>68,651</td><td>84,266</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><td>5,480</td><td>3,615</td><td>13,400</td></tr><tr><td>Montana</td><td>6,322</td><td>10,529</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>467</td><td>435</td><td>433</td><td>177</td><td>3,100</td></tr><tr><td>Nebraska</td><td>14,132</td><td>30,414</td><td>1,931</td><td>1,470</td><td>1,227</td><td>2,696</td><td>3,874</td><td>2,367</td><td>3,316</td><td>3,935</td><td>4,268</td><td>1,570</td><td>2,439</td><td>1,120</td><td>6,100</td></tr><tr><td>Nevada</td><td>2,349</td><td>4,441</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><td>184</td><td>228</td><td>900</td></tr><tr><td>New Hampshire</td><td>11,090</td><td>14,403</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><td>475</td><td>779</td><td>900</td></tr><tr><td>New Jersey</td><td>93,399</td><td>118,761</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><td>6,423</td><td>4,817</td><td>16,800</td></tr><tr><td>New Mexico</td><td>9,034</td><td>7,025</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>867</td><td>285</td><td>592</td><td>360</td><td>1,200</td></tr><tr><td>New York</td><td>580,433</td><td>627,985</td><td>62,775</td><td>35,201</td><td>30,032</td><td>54,236</td><td>72,540</td><td>42,816</td><td>38,317</td><td>82,836</td><td>43,532</td><td>28,466</td><td>28,753</td><td>18,971</td><td>75,000</td></tr><tr><td>North Carolina</td><td>26,074</td><td>44,654</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>7,171</td><td>4,221</td><td>2,225</td><td>2,651</td><td>1,526</td><td>9,000</td></tr><tr><td>North Dakota</td><td>7,515</td><td>10,937</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><td>494</td><td>511</td><td>2,400</td></tr><tr><td>Ohio</td><td>119,098</td><td>203,827</td><td>15,066</td><td>12,025</td><td>9,599</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><td>13,100</td><td>8,166</td><td>34,300</td></tr><tr><td>Oklahoma</td><td>16,587</td><td>25,095</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><td>1,718</td><td>880</td><td>5,100</td></tr><tr><td>Oregon</td><td>22,095</td><td>32,892</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><td>1,589</td><td>1,554</td><td>6,000</td></tr><tr><td>Pennsylvania</td><td>243,285</td><td>297,430</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><td>17,123</td><td>10,335</td><td>46,300</td></tr><tr><td>Rhode Island</td><td>28,064</td><td>30,424</td><td>1,661</td><td>1,557</td><td>1,815</td><td>1,852</td><td>2,804</td><td>7,115</td><td>1,297</td><td>2,794</td><td>2,213</td><td>1,358</td><td>800</td><td>1,362</td><td>2,300</td></tr><tr><td>South Carolina</td><td>9,459</td><td>21,712</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><td>1,359</td><td>696</td><td>4,200</td></tr><tr><td>South Dakota</td><td>3,077</td><td>10,416</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><td>607</td><td>302</td><td>2,400</td></tr><tr><td>Tennessee</td><td>18,481</td><td>39,140</td><td>3,089</td><td>2,888</td><td>2,122</td><td>3,293</td><td>3,819</td><td>2,716</td><td>2,376</td><td>8,546</td><td>1,420</td><td>2,461</td><td>2,770</td><td>1,541</td><td>7,300</td></tr><tr><td>Texas</td><td>54,196</td><td>110,993</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><td>6,133</td><td>3,436</td><td>26,500</td></tr><tr><td>Texas</td><td>5,019</td><td>7,474</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>317</td><td>644</td><td>448</td><td>1,900</td></tr><tr><td>Utah</td><td>5,842</td><td>7,504</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><td>309</td><td>520</td><td>500</td></tr><tr><td>Virginia</td><td>28,014</td><td>53,701</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>2,375</td><td>8,095</td><td>5,263</td><td>2,960</td><td>3,140</td><td>1,925</td><td>11,100</td></tr><tr><td>Washington</td><td>25,898</td><td>49,753</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><td>3,154</td><td>2,291</td><td>11,000</td></tr><tr><td>West Virginia</td><td>11,780</td><td>17,905</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><td>1,281</td><td>698</td><td>3,300</td></tr><tr><td>Wisconsin</td><td>42,205</td><td>86,336</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>4,863</td><td>5,492</td><td>3,492</td><td>14,000</td></tr><tr><td>Wyoming</td><td>3,690</td><td>6,010</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>235</td><td>315</td><td>198</td><td>800</td></tr><tr><td>Alaska</td><td>736</td><td>1,297</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><td>65</td><td>84</td><td></td></tr><tr><td>Canal Zone</td><td>504</td><td>1,843</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><td>135</td><td>44</td><td></td></tr><tr><td>Hawaii</td><td>5,882</td><
Source: Report of gross sales.
Preliminary
Less than $500.
(1) not yet available
2/ Unallocated amounts for prior months included chiefly sales to the armed forces. Beginning in September 1943 these sales are allocated on a State basis.
47
Participation in Payroll Savings Plans For War Savings Bonds
<table><tr><th></th><th colspan="5">1942</th><th colspan="8">1943</th></tr><tr><th></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><th>July</th><th>Aug.</th></tr><tr><td colspan="13">Number of firms having payroll savings plans</td></tr><tr><td>Firms with:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>5,000 or more workers</td><td>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</td><td>537</td><td>535</td><td>535</td></tr><tr><td>500-4,999 workers</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</td><td>5,777</td><td>5,788</td><td>5,791</td></tr><tr><td>100-499 workers</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><td>27,056</td><td>27,103</td><td>27,144</td></tr><tr><td>Under 100 workers</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><td>149,525</td><td>149,890</td><td>150,126</td></tr><tr><td>Total number of firms</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</td><td>182,895</td><td>183,316</td><td>183,596</td></tr><tr><td colspan="13">Number of workers employed in firms and governmental agencies having payroll savings plans (In millions)</td></tr><tr><td>In firms</td><td>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><td>27.4</td><td>27.6</td><td>27.6</td></tr><tr><td>In Federal, State, and local governments and their agencies</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><td>3.9</td><td>3.9</td><td>3.9</td></tr><tr><td>Total</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><td>31.2</td><td>31.5</td><td>31.5</td></tr><tr><td colspan="13">Number of persons actually participating in payroll savings plans (In millions)</td></tr><tr><td>Total number of (1) workers in firms, (2) workers in Federal, State, and local governments and their agencies, and (3) persons in the armed forcee, participating in payroll savings plans</td><td>19.4</td><td>21.0</td><td>22.6</td><td>23.7</td><td>24.5</td><td>24.9</td><td>25.5</td><td>26.2</td><td>26.8</td><td>26.8</td><td>26.8</td><td>26.9</td><td>26.9</td></tr><tr><td colspan="13">Deductions under payroll savings plans</td></tr><tr><td>Total amount deducted (in millions of dollars)</td><td>230</td><td>265</td><td>307</td><td>335</td><td>355</td><td>375</td><td>360</td><td>380</td><td>415</td><td>425</td><td>415</td><td>420 p</td><td>420 p</td></tr><tr><td>Percent of pay deducted</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>9.0%</td><td>9.1%</td><td>9.0%</td><td>9.1%p</td><td>9.1%p</td></tr></table>
Preliminary 1/ Estimated.
48
Sales of Treasury Savings Notes
Table 1.- Summary of Sales and Redemptions, by Series
(Par value - 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</th><th rowspan="2">Net change during fiscal year or month</th><th rowspan="2">Sales</th><th colspan="3">Redemptions and exchanges</th></tr><tr><th>Total</th><th>Received in payment of taxes</th><th>Redeemed for cash</th><th>Exchanged for new series</th></tr></table>
All series
<table><tr><td>1942</td><td>3,014.5</td><td>+3,014.5</td><td>4,138.9</td><td>1,124.4</td><td>1,103.7</td><td>20.7</td><td>......</td></tr><tr><td>1943</td><td>7,495.4</td><td>4,480.9</td><td>8,758.5</td><td>4,277.6</td><td>4,094.4</td><td>114.9</td><td>68.3</td></tr><tr><td>1942-September</td><td>4,137.1</td><td>+397.8</td><td>977.9</td><td>580.1</td><td>527.3</td><td>4.1</td><td>48.6</td></tr><tr><td>October</td><td>4,963.5</td><td>+826.4</td><td>941.1</td><td>118.6</td><td>56.3</td><td>38.6</td><td>19.7</td></tr><tr><td>November</td><td>5,702.5</td><td>+739.0</td><td>781.6</td><td>42.6</td><td>37.8</td><td>4.9</td><td>......</td></tr><tr><td>December</td><td>6,784.1</td><td>+681.5</td><td>1,312.3</td><td>630.8</td><td>626.2</td><td>4.6</td><td>......</td></tr><tr><td>1943-January</td><td>6,748.8</td><td>+364.8</td><td>452.9</td><td>88.1</td><td>86.4</td><td>1.8</td><td>......</td></tr><tr><td>February</td><td>7,124.7</td><td>+375.9</td><td>456.6</td><td>80.7</td><td>78.8</td><td>2.0</td><td>......</td></tr><tr><td>March</td><td>6,314.6</td><td>-779.1</td><td>446.8</td><td>1,225.9</td><td>1,214.1</td><td>11.8</td><td>......</td></tr><tr><td>April</td><td>7,782.5</td><td>+1,436.9</td><td>1,632.9</td><td>196.0</td><td>176.6</td><td>19.5</td><td>......</td></tr><tr><td>May</td><td>8,162.9</td><td>+380.4</td><td>482.2</td><td>101.8</td><td>97.0</td><td>4.8</td><td>......</td></tr><tr><td>June</td><td>7,495.4</td><td>-667.5</td><td>468.1</td><td>1,135.6</td><td>1,119.8</td><td>15.8</td><td>......</td></tr><tr><td>July</td><td>7,677.9</td><td>+182.5</td><td>414.0</td><td>231.5</td><td>214.4</td><td>17.1</td><td>......</td></tr><tr><td>August</td><td>7,764.3</td><td>+86.4</td><td>213.5</td><td>127.1</td><td>99.2</td><td>27.9</td><td>......</td></tr><tr><td>September</td><td>8,876.4</td><td>+1,112.1</td><td>2,260.0</td><td>1,147.9</td><td>1,111.9</td><td>36.0</td><td>......</td></tr></table>
Series 1 2/
<table><tr><td>1942</td><td>54.8</td><td>+54.8</td><td>72.2</td><td>17.4</td><td>16.6</td><td>.8</td><td>.....</td></tr><tr><td>1943</td><td>266.7</td><td>+211.9</td><td>334.7</td><td>122.8</td><td>114.0</td><td>8.7</td><td>.1</td></tr><tr><td>1942-September</td><td>112.7</td><td>+47.6</td><td>52.6</td><td>5.0</td><td>4.9</td><td>.1</td><td>•</td></tr><tr><td>October</td><td>167.0</td><td>+54.3</td><td>54.7</td><td>.5</td><td>.2</td><td>.2</td><td>.1</td></tr><tr><td>November</td><td>200.1</td><td>+33.1</td><td>33.5</td><td>.4</td><td>.2</td><td>.2</td><td>•</td></tr><tr><td>December</td><td>276.0</td><td>+75.9</td><td>86.0</td><td>10.1</td><td>9.8</td><td>.3</td><td>.....</td></tr><tr><td>1943-January</td><td>309.4</td><td>+33.4</td><td>34.5</td><td>1.0</td><td>.5</td><td>.5</td><td>.....</td></tr><tr><td>February</td><td>320.0</td><td>+10.5</td><td>13.0</td><td>2.5</td><td>1.8</td><td>.6</td><td>.....</td></tr><tr><td>March</td><td>285.4</td><td>-34.6</td><td>15.3</td><td>49.9</td><td>47.5</td><td>2.3</td><td>.....</td></tr><tr><td>April</td><td>294.9</td><td>+9.5</td><td>21.8</td><td>12.3</td><td>11.1</td><td>1.2</td><td>.....</td></tr><tr><td>May</td><td>302.7</td><td>+7.8</td><td>7.8</td><td>•</td><td>-.9 r</td><td>.8</td><td>.....</td></tr><tr><td>June</td><td>266.7</td><td>-35.9</td><td>4.5</td><td>40.4</td><td>38.3</td><td>2.2</td><td>.....</td></tr><tr><td>July</td><td>251.2</td><td>-15.5</td><td>•</td><td>15.5</td><td>13.3</td><td>2.2</td><td>.....</td></tr><tr><td>August</td><td>247.6</td><td>-3.7</td><td>.....</td><td>3.7</td><td>1.7</td><td>2.0</td><td>.....</td></tr><tr><td>September</td><td>207.3</td><td>-40.2</td><td>.....</td><td>40.2</td><td>37.2</td><td>3.0</td><td>.....</td></tr></table>
Series B Y
<table><tr><td>1942</td><td>2,959.7</td><td>+2,959.7</td><td>4,066.7</td><td>1,107.0</td><td>1,087.1</td><td>19.9</td><td>......</td></tr><tr><td>1943</td><td>764.8</td><td>-2,195.0</td><td>877.1</td><td>3,072.1</td><td>2,933.3</td><td>70.6</td><td>68.2</td></tr><tr><td>1942-September</td><td>3,181.2</td><td>-493.0</td><td>82.1</td><td>575.1</td><td>522.5</td><td>4.0</td><td>48.6</td></tr><tr><td>October</td><td>3,067.4</td><td>-113.7</td><td>......</td><td>113.7</td><td>56.1</td><td>37.9</td><td>19.7</td></tr><tr><td>November</td><td>3,026.0</td><td>-41.5</td><td>......</td><td>41.5</td><td>36.8</td><td>4.6</td><td>......</td></tr><tr><td>December</td><td>2,432.7</td><td>-593.2</td><td>......</td><td>593.2</td><td>589.0</td><td>4.2</td><td>......</td></tr><tr><td>1943-January</td><td>2,364.2</td><td>-68.5</td><td>......</td><td>68.5</td><td>67.4</td><td>1.1</td><td>......</td></tr><tr><td>February</td><td>2,311.4</td><td>-52.8</td><td>......</td><td>52.8</td><td>52.4</td><td>.4</td><td>......</td></tr><tr><td>March</td><td>1,468.4</td><td>-823.0</td><td>......</td><td>823.0</td><td>820.7</td><td>2.2</td><td>......</td></tr><tr><td>April</td><td>1,395.0</td><td>-93.4</td><td>......</td><td>93.4</td><td>87.3</td><td>6.1</td><td>......</td></tr><tr><td>May</td><td>1,349.7</td><td>-45.4</td><td>......</td><td>45.4</td><td>43.2</td><td>2.2</td><td>......</td></tr><tr><td>June</td><td>764.8</td><td>-584.9</td><td>......</td><td>584.9</td><td>584.0</td><td>.9</td><td>......</td></tr><tr><td>July</td><td>711.0</td><td>-53.7</td><td>......</td><td>53.7</td><td>52.7</td><td>1.0</td><td>......</td></tr><tr><td>August</td><td>687.9</td><td>-23.2</td><td>......</td><td>23.2</td><td>20.9</td><td>2.3</td><td>......</td></tr><tr><td>September</td><td>348.6</td><td>-339.3</td><td>......</td><td>339.3</td><td>336.3</td><td>2.9</td><td>......</td></tr></table>
(Continued on following page)
49
Sales of Treasury Savings Notes 1/ - (Continued) Table 1.- Summary of Sales and Redemptions, by Series-(Continued)
(Par value - in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month</th><th>Net change during fiscal year or month</th><th>Sales</th><th colspan="4">Redemptions and exchangee</th></tr><tr><th></th><th></th><th></th><th></th><th>Total</th><th>Received in payment of taxes</th><th>Redeemed for cash</th><th>Exchanged for new series</th></tr><tr><td colspan="8">Series C 1/2</td></tr><tr><td>1943</td><td>6,464.0</td><td>+6,464.0</td><td>7,546.7</td><td>1,082.7</td><td>1,047.2</td><td>35.6</td><td></td></tr><tr><td>1942-September</td><td>843.2</td><td>+843.2</td><td>843.2</td><td>-</td><td>-</td><td>-</td><td></td></tr><tr><td>October</td><td>1,729.1</td><td>+885.9</td><td>886.4</td><td>.4</td><td>-</td><td>.4 3/</td><td></td></tr><tr><td>November</td><td>2,476.5</td><td>+747.4</td><td>748.1</td><td>.8</td><td>.7</td><td>.1 3/</td><td></td></tr><tr><td>December</td><td>3,675.3</td><td>+1,198.8</td><td>1,226.3</td><td>27.1</td><td>27.1</td><td>.0 3/</td><td></td></tr><tr><td>1943-January</td><td>4,075.2</td><td>+399.9</td><td>418.4</td><td>18.5</td><td>18.1</td><td>.1 3/</td><td></td></tr><tr><td>February</td><td>4,493.4</td><td>+418.2</td><td>443.7</td><td>25.5</td><td>24.5</td><td>1.0 3/</td><td></td></tr><tr><td>March</td><td>4,571.8</td><td>+78.4</td><td>431.5</td><td>353.1</td><td>345.8</td><td>7.2</td><td></td></tr><tr><td>April</td><td>6,092.6</td><td>+1,520.8</td><td>1,611.1</td><td>90.3</td><td>78.2</td><td>12.2</td><td></td></tr><tr><td>May</td><td>6,510.6</td><td>+418.0</td><td>474.5</td><td>56.5</td><td>54.7</td><td>1.8</td><td></td></tr><tr><td>June</td><td>6,464.0</td><td>-46.6</td><td>463.6</td><td>510.2</td><td>497.5</td><td>12.8</td><td></td></tr><tr><td>July</td><td>6,715.7</td><td>+251.7</td><td>414.0</td><td>162.3</td><td>148.4</td><td>13.9</td><td></td></tr><tr><td>August</td><td>6,828.9</td><td>+113.2</td><td>213.5</td><td>100.2</td><td>76.6</td><td>23.7</td><td></td></tr><tr><td>September</td><td>8,320.5</td><td>+1,491.6</td><td>2,260.0</td><td>768.4</td><td>738.4</td><td>30.0</td><td></td></tr></table>
Source: Daily Treasury Statements. 
r Revised. 
* Less than $50,000. 
1/ These notes were originally designed to help taxpayers set aside funds with which to pay taxes and were known as Treasury tax savings notes. Series A notes were designed for the small and moderate taxpayer; series B and series C notes were intended for the large taxpayer. When the collection of taxes through withholding at the source commenced, the need for series A tax savings notes disappeared and their sale was discontinued. Redemption provisions on series A notes were relaxed to provide for the payment of interest on notes thereafter redeemed for cash (see footnote 2/). Sale of series C notes which were designed for the investment of idle cash reserves as well as the accumulation of tax reserves was continued and the notes were designated Treasury savings notes. 
2/ Series A notes, which were sold from August 1, 1941 through June 22, 1943, 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. Through June 22, 1943 the notes could be redeemed for cash only at the original purchase price; since that date, the notes have been redeemed for cash at the tax payment value current at the time of presentation. See also footnote 1/.
3/ Series B notes were sold from August 1, 1941 through September 12, 1942, to yield approximately .48 percent per annum. The amount which may be turned in on taxes is unlimited. The notes may be redeemed for cash only at the original purchase price.
4/ Series C notes went on sale September 14, 1942. Interest accrues each month on a graduated scale (see "Treasury Bulletin" for August 1943, page 4) to yield approximately 1.07 percent per annum if held to maturity. The amount which may be turned in on taxes is unlimited. The notes may be redeemed for cash six months after the date of issue at the tax payment value current at the time of presentation. Prior to July 27, 1943, notice of 30 days was required for cash redemption. See also footnote 1/.
50
Sales of Treasury Savings Notes - (Continued)
Table 2.- Sales of Series C Notes, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="6">Sales in millions of dollars at par</th><th colspan="6">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>$100,000</th><th>$500,000</th><th>$1,000,000</th><th>Total all denominations</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>$100,000</th><th>$500,000</th><th>$1,000,000</th></tr><tr><td>1943</td><td>7,546.7</td><td>249.0</td><td>332.1</td><td>1,388.6</td><td>2,535.7</td><td>1,124.4</td><td>1,916.9</td><td>100.0</td><td>3.3</td><td>4.4</td><td>18.4</td><td>33.6</td><td>14.9</td><td>25.4</td></tr><tr><td>1942-Sept</td><td>843.2</td><td>16.9</td><td>26.1</td><td>137.5</td><td>279.9</td><td>102.9</td><td>279.9</td><td>100.0</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>886.4</td><td>20.4</td><td>31.9</td><td>153.3</td><td>302.3</td><td>149.8</td><td>228.7</td><td>100.0</td><td>2.3</td><td>3.6</td><td>17.3</td><td>34.1</td><td>16.9</td><td>25.8</td></tr><tr><td>Nov</td><td>748.1</td><td>17.2</td><td>26.2</td><td>127.2</td><td>231.2</td><td>71.8</td><td>274.5</td><td>100.0</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>1,226.3</td><td>40.5</td><td>66.2</td><td>250.2</td><td>388.7</td><td>204.8</td><td>275.9</td><td>100.0</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>418.4</td><td>16.7</td><td>21.8</td><td>84.9</td><td>150.6</td><td>67.8</td><td>76.6</td><td>100.0</td><td>4.0</td><td>5.2</td><td>20.3</td><td>36.0</td><td>16.2</td><td>18.3</td></tr><tr><td>Feb</td><td>433.7</td><td>9.8</td><td>13.7</td><td>58.7</td><td>141.9</td><td>72.8</td><td>146.8</td><td>100.0</td><td>2.2</td><td>3.1</td><td>13.2</td><td>32.0</td><td>16.4</td><td>33.1</td></tr><tr><td>Mar</td><td>431.5</td><td>9.9</td><td>13.4</td><td>66.0</td><td>123.0</td><td>78.5</td><td>140.7</td><td>100.0</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>1,611.1</td><td>82.2</td><td>90.2</td><td>339.9</td><td>597.7</td><td>224.0</td><td>277.1</td><td>100.0</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>474.5</td><td>20.9</td><td>23.3</td><td>91.1</td><td>152.3</td><td>69.8</td><td>117.1</td><td>100.0</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>463.6</td><td>10.7</td><td>14.8</td><td>77.4</td><td>176.2</td><td>78.8</td><td>105.7</td><td>100.0</td><td>2.3</td><td>3.2</td><td>16.7</td><td>38.0</td><td>17.0</td><td>22.8</td></tr><tr><td>July</td><td>414.0</td><td>12.4</td><td>15.3</td><td>72.5</td><td>144.1</td><td>73.7</td><td>96.0</td><td>100.0</td><td>3.0</td><td>3.7</td><td>17.5</td><td>34.8</td><td>17.8</td><td>23.2</td></tr><tr><td>Aug</td><td>213.5</td><td>8.1</td><td>9.4</td><td>43.6</td><td>82.6</td><td>24.8</td><td>45.0</td><td>100.0</td><td>3.8</td><td>4.4</td><td>20.4</td><td>38.7</td><td>11.6</td><td>21.1</td></tr><tr><td>Sept</td><td>2,260.0</td><td>119.8</td><td>133.4</td><td>490.4</td><td>754.8</td><td>327.7</td><td>433.9</td><td>100.0</td><td>5.3</td><td>5.9</td><td>21.7</td><td>33.4</td><td>14.5</td><td>19.2</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by denominations: sales reported to the Treasury.
1/ Information on sales, by denomination, of Series A and B tax savings notes may be found in the "Treasury Bulletin" for July 1943, page 46.
Table 3.- Sales of Series C Notes, 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>1943</td><td>7,546.7</td><td>611.3</td><td>6,935.4</td><td>100.0</td><td>8.1</td><td>91.9</td></tr><tr><td>1942-September</td><td>843.2</td><td>47.2</td><td>796.0</td><td>100.0</td><td>5.6</td><td>94.4</td></tr><tr><td>October</td><td>886.4</td><td>81.5</td><td>804.9</td><td>100.0</td><td>9.2</td><td>90.8</td></tr><tr><td>November</td><td>748.1</td><td>60.6</td><td>687.5</td><td>100.0</td><td>8.1</td><td>91.9</td></tr><tr><td>December</td><td>1,226.3</td><td>120.2</td><td>1,106.1</td><td>100.0</td><td>9.8</td><td>90.2</td></tr><tr><td>1943-January</td><td>418.4</td><td>37.7</td><td>380.7</td><td>100.0</td><td>9.0</td><td>91.0</td></tr><tr><td>February</td><td>443.7</td><td>28.8</td><td>414.9</td><td>100.0</td><td>6.5</td><td>93.5</td></tr><tr><td>March</td><td>431.5</td><td>51.3</td><td>380.2</td><td>100.0</td><td>11.9</td><td>88.1</td></tr><tr><td>April</td><td>1,611.1</td><td>122.4</td><td>1,488.7</td><td>100.0</td><td>7.6</td><td>92.4</td></tr><tr><td>May</td><td>474.5</td><td>37.5</td><td>437.0</td><td>100.0</td><td>7.9</td><td>92.1</td></tr><tr><td>June</td><td>463.6</td><td>26.9</td><td>436.7</td><td>100.0</td><td>5.8</td><td>94.2</td></tr><tr><td>July</td><td>414.0</td><td>21.5</td><td>392.5</td><td>100.0</td><td>5.2</td><td>94.8</td></tr><tr><td>August</td><td>213.5</td><td>15.4</td><td>198.1</td><td>100.0</td><td>7.2</td><td>92.8</td></tr><tr><td>September</td><td>2,260.0</td><td>166.9 p</td><td>2,093.1 p</td><td>100.0 p</td><td>7.4 p</td><td>92.6 p</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by type of purchaser: sales reported to the Treasury. Pricelincary.
1/ Information on sales, by type of purchaser, of Series A and B tax savings notes may be found in the "Treasury Bulletin" for July 1943, page 47.
51
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">Redemptione</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 1/</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 5/ 1/</td><td>590,268</td><td>544,647</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-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>36,158</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>64,104</td><td>54,391</td><td>9,714</td><td>100.0</td><td>84.8</td><td>15.2</td></tr><tr><td>July</td><td>207,275</td><td>-6,075</td><td>30,770</td><td>36,845</td><td>31,371</td><td>5,474</td><td>100.0</td><td>85.1</td><td>14.9</td></tr><tr><td>August</td><td>204,158</td><td>-3,117</td><td>29,313</td><td>32,430</td><td>27,427</td><td>5,004</td><td>100.0</td><td>84.5</td><td>15.4</td></tr><tr><td>September</td><td>201,453</td><td>-2,705</td><td>28,600</td><td>31,306</td><td>27,098</td><td>4,207</td><td>100.0</td><td>86.6</td><td>13.4</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. Details not available for May, June, and July 1941.
5/ Net of sales less redemptions. See footnote 1/.
6/ 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-September</td><td>47,682</td><td>8,366</td><td>26,189</td><td>4,935</td><td>6,064</td><td>2,128</td><td>100.0</td><td>17.5</td><td>54.9</td><td>10.4</td><td>12.7</td><td>4.5</td></tr><tr><td>October</td><td>53,141</td><td>10,680</td><td>28,563</td><td>5,150</td><td>6,498</td><td>2,250</td><td>100.0</td><td>20.1</td><td>53.8</td><td>9.7</td><td>12.2</td><td>4.2</td></tr><tr><td>November</td><td>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</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</td><td>56,267</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</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</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</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</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><tr><td>July</td><td>30,770</td><td>5,462</td><td>15,783</td><td>2,990</td><td>4,425</td><td>2,110</td><td>100.0</td><td>17.7</td><td>51.3</td><td>9.7</td><td>14.4</td><td>6.9</td></tr><tr><td>August</td><td>29,313</td><td>5,409</td><td>15,361</td><td>2,803</td><td>4,190</td><td>1,550</td><td>100.0</td><td>18.4</td><td>52.4</td><td>9.6</td><td>14.3</td><td>5.3</td></tr><tr><td>September</td><td>28,600</td><td>6,564</td><td>15,053</td><td>2,410</td><td>3,382</td><td>1,192</td><td>100.0</td><td>23.0</td><td>52.6</td><td>8.4</td><td>11.8</td><td>4.2</td></tr></table>
Source: (1) Total eales: Daily Treasury Statements commencing November 1, 1942; prior thereto Post Office Department; (2) Distribution by denominations: Based upon Post Office Department data.
52
Sales of United States Savings Stamps - (Continued)
Table 3.- Sales by States
(in thousands of dollars)
<table><tr><th>State</th><th colspan="5">1942</th><th colspan="10">1943</th></tr><tr><th></th><th>1942</th><th>1943</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><th>July</th><th>Aug. P.</th><th>Sept. P.</th></tr><tr><td>Alabama</td><td>2,343.7</td><td>4,215.1</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>218.6</td><td>288.2</td><td>240.3</td><td>419.1</td></tr><tr><td>Arizona</td><td>435.8</td><td>1,766.8</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>115.4</td><td>79.1</td><td>93.9</td><td>81.4</td><td>98.3</td></tr><tr><td>Arkansas</td><td>1,674.7</td><td>2,970.7</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>193.4</td><td>166.6</td><td>198.6</td><td>126.1</td><td>168.2</td></tr><tr><td>California</td><td>20,132.6</td><td>39,726.1</td><td>1,712.9</td><td>3,602.5</td><td>3,048.7</td><td>4,122.0</td><td>1,624.3</td><td>2,963.3</td><td>3,344.8</td><td>3,486.4</td><td>3,256.6</td><td>2,312.7</td><td>2,190.5</td><td>1,856.0</td><td>2,470.3</td></tr><tr><td>Colorado</td><td>2,020.3</td><td>4,083.1</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>294.9</td><td>216.5</td><td>215.3</td><td>184.1</td><td>334.3</td></tr><tr><td>Connecticut</td><td>7,707.4</td><td>14,375.6</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>1,013.3</td><td>788.8</td><td>743.8</td><td>567.8</td><td>941.8</td></tr><tr><td>Delaware</td><td>714.2</td><td>1,298.6</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><td>67.8</td><td>57.6</td><td>110.6</td></tr><tr><td>Dist. of Columbia</td><td>6,100.1</td><td>5,591.7</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><td>293.1</td><td>268.3</td><td>368.2</td></tr><tr><td>Florida</td><td>3,705.9</td><td>6,188.3</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>494.8</td><td>365.0</td><td>403.2</td><td>340.1</td><td>473.0</td></tr><tr><td>Georgia</td><td>3,125.5</td><td>5,621.2</td><td>460.7</td><td>500.4</td><td>464.4</td><td>531.4</td><td>503.1</td><td>479.3</td><td>494.5</td><td>458.6</td><td>422.1</td><td>306.6</td><td>327.2</td><td>262.6</td><td>353.4</td></tr><tr><td>Idaho</td><td>841.0</td><td>1,405.5</td><td>115.5</td><td>122.8</td><td>112.4</td><td>132.0</td><td>111.1</td><td>138.9</td><td>125.9</td><td>127.6</td><td>87.2</td><td>64.9</td><td>64.2</td><td>75.8</td><td>94.3</td></tr><tr><td>Illinois</td><td>23,612.9</td><td>39,970.3</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>2,833.4</td><td>2,226.7</td><td>2,357.5</td><td>1,749.1</td><td>2,617.6</td></tr><tr><td>Indiana</td><td>7,516.9</td><td>14,176.4</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>1,038.3</td><td>778.3</td><td>767.7</td><td>637.0</td><td>965.2</td></tr><tr><td>Iowa</td><td>4,575.8</td><td>9,010.3</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>642.3</td><td>511.1</td><td>1,339.2</td><td>715.0</td><td>726.6</td></tr><tr><td>Kansas</td><td>2,532.9</td><td>5,576.8</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>414.4</td><td>288.4</td><td>549.3</td><td>225.8</td><td>360.0</td></tr><tr><td>Kentucky</td><td>3,036.2</td><td>5,427.6</td><td>439.0</td><td>510.5</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>387.5</td><td>302.8</td><td>340.7</td><td>326.4</td><td>449.8</td></tr><tr><td>Louisiana</td><td>3,428.0</td><td>6,114.6</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>350.0</td><td>356.0</td><td>412.0</td><td>432.6</td></tr><tr><td>Maine</td><td>1,725.5</td><td>3,619.4</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>297.5</td><td>214.9</td><td>196.6</td><td>189.2</td><td>257.0</td></tr><tr><td>Maryland</td><td>5,785.2</td><td>9,211.3</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>727.2</td><td>558.6</td><td>499.6</td><td>475.4</td><td>585.1</td></tr><tr><td>Massachusetts</td><td>14,413.6</td><td>27,025.9</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>2,125.9</td><td>1,643.0</td><td>1,380.0</td><td>1,041.6</td><td>2,044.6</td></tr><tr><td>Michigan</td><td>13,721.6</td><td>26,161.1</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>1,931.9</td><td>1,393.3</td><td>1,237.7</td><td>1,220.4</td><td>1,931.2</td></tr><tr><td>Minnesota</td><td>4,037.7</td><td>7,961.5</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>554.8</td><td>403.7</td><td>507.0</td><td>441.9</td><td>559.8</td></tr><tr><td>Mississippi</td><td>1,508.8</td><td>3,082.6</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>185.1</td><td>140.2</td><td>156.1</td><td>123.4</td><td>200.3</td></tr><tr><td>Missouri</td><td>7,326.4</td><td>14,223.5</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>1,030.6</td><td>786.1</td><td>772.3</td><td>700.9</td><td>1,072.2</td></tr><tr><td>Montana</td><td>1,030.7</td><td>1,874.0</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>125.0</td><td>78.8</td><td>127.8</td><td>92.1</td><td>121.2</td></tr><tr><td>Nebraska</td><td>2,371.8</td><td>4,531.1</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>312.2</td><td>234.4</td><td>281.1</td><td>212.6</td><td>268.3</td></tr><tr><td>Nevada</td><td>381.4</td><td>678.4</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>31.6</td><td>45.5</td><td>44.5</td><td>37.9</td></tr><tr><td>New Hampshire</td><td>1,150.8</td><td>2,276.5</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>170.1</td><td>126.6</td><td>118.0</td><td>110.9</td><td>174.2</td></tr><tr><td>New Jersey</td><td>13,313.7</td><td>23,206.8</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>1,760.3</td><td>1,417.1</td><td>1,152.5</td><td>1,045.1</td><td>1,649.9</td></tr><tr><td>New Mexico</td><td>720.3</td><td>1,252.8</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>81.4</td><td>56.4</td><td>59.6</td><td>53.8</td><td>107.0</td></tr><tr><td>New York</td><td>53,060.7</td><td>106,793.2</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>7,835.9</td><td>6,644.9</td><td>5,410.7</td><td>5,265.3</td><td>7,154.2</td></tr><tr><td>North Carolina</td><td>3,089.7</td><td>6,794.6</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>455.4</td><td>344.3</td><td>454.5</td><td>357.8</td><td>463.3</td></tr><tr><td>North Dakota</td><td>801.2</td><td>1,558.8</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>103.4</td><td>71.5</td><td>101.2</td><td>82.9</td><td>89.5</td></tr><tr><td>Ohio</td><td>18,269.5</td><td>32,949.4</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>2,499.5</td><td>1,679.1</td><td>1,846.8</td><td>1,542.1</td><td>2,238.6</td></tr><tr><td>Oklahoma</td><td>2,439.1</td><td>4,442.0</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>302.7</td><td>252.5</td><td>250.0</td><td>223.2</td><td>321.2</td></tr><tr><td>Oregon</td><td>2,739.3</td><td>5,323.4</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>369.0</td><td>284.4</td><td>462.7</td><td>292.9</td><td>363.6</td></tr><tr><td>Pennsylvania</td><td>27,075.3</td><td>49,468.2</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>3,824.8</td><td>2,821.9</td><td>2,609.3</td><td>2,405.7</td><td>3,764.3</td></tr><tr><td>Rhode Island</td><td>3,087.6</td><td>5,172.3</td><td>460.9</td><td>527.2</td><td>417.2</td><td>493.1</td><td>412.2</td><td>347.1</td><td>391.4</td><td>439.2</td><td>372.9</td><td>292.4</td><td>251.9</td><td>250.7</td><td>343.0</td></tr><tr><td>South Carolina</td><td>1,488.2</td><td>2,207.8</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>151.7</td><td>122.5</td><td>142.4</td><td>115.7</td><td>177.6</td></tr><tr><td>South Dakota</td><td>832.2</td><td>1,546.1</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>101.1</td><td>69.4</td><td>102.2</td><td>82.6</td><td>109.3</td></tr><tr><td>Tennessee</td><td>2,952.8</td><td>5,685.8</td><td>467.6</td><td>525.1</td><td>454.9</td><td>523.9</td><td>516.4</td><td>478.7</td><td>454.0</td><td>462.3</td><td>359.6</td><td>274.8</td><td>309.5</td><td>265.8</td><td>413.0</td></tr><tr><td>Texas</td><td>11,520.8</td><td>20,141.6</td><td>1,643.5</td><td>1,807.2</td><td>1,601.1</td><td>2,006.3</td><td>1,788.9</td><td>1,702.1</td><td>1,686.9</td><td>1,916.4</td><td>1,644.7</td><td>1,143.6</td><td>1,177.9</td><td>1,056.6</td><td>1,372.4</td></tr><tr><td>Utah</td><td>963.4</td><td>2,436.2</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>145.2</td><td>105.5</td><td>128.0</td><td>109.7</td><td>130.0</td></tr><tr><td>Vermont</td><td>705.8</td><td>1,340.0</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>100.0</td><td>82.9</td><td>82.7</td><td>80.3</td><td>98.3</td></tr><tr><td>Virginia</td><td>4,051.8</td><td>7,315.1</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>559.1</td><td>373.0</td><td>629.2</td><td>350.2</td><td>574.5</td></tr><tr><td>Washington</td><td>3,909.2</td><td>8,124.7</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>609.2</td><td>408.8</td><td>451.4</td><td>350.8</td><td>528.0</td></tr><tr><td>West Virginia</td><td>2,449.7</td><td>4,014.2</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>184.5</td><td>225.3</td><td>186.0</td><td>265.9</td></tr><tr><td>Wisconsin</td><td>5,728.1</td><td>12,535.0</td><td>953.1</td><td>1,129.0</td><td>
Source: (1) Total sales: Daily Treasury Statements; (2) Sales by States: Post Office Department. p. Preliminary.
OWNERSHIP OF GOVERNMENT SECURITIES
-53-
54
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="4">Securities guaranteed by United States 1/</th></tr><tr><th>Total amount outstanding</th><th colspan="4">U. S. Government agencies and trust funds 2/</th><th>Federal Reserve Banks</th><th colspan="3">Private investors 1/</th><th>Total amount unamortized outstanding</th><th colspan="3">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>Public marketable issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th></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>641</td><td>150</td><td>531</td><td>-</td></tr><tr><td>1935</td><td>27,045</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><td>-</td></tr><tr><td>1936</td><td>32,989</td><td>1,945</td><td>1,719</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><td>-</td></tr><tr><td>1937</td><td>35,600</td><td>3,221</td><td>1,661</td><td>-</td><td>1,558</td><td>2,526</td><td>30,053</td><td>28,855</td><td>1,188</td><td>4,665</td><td>361</td><td>4,302</td><td>-</td></tr><tr><td>1938</td><td>36,576</td><td>4,452</td><td>1,776</td><td>-</td><td>2,676</td><td>2,564</td><td>29,560</td><td>28,004</td><td>1,556</td><td>4,553</td><td>325</td><td>4,528</td><td>-</td></tr><tr><td>1939</td><td>39,886</td><td>5,600</td><td>1,830</td><td>-</td><td>3,770</td><td>2,551</td><td>31,735</td><td>29,584</td><td>2,151</td><td>5,450</td><td>286</td><td>5,164</td><td>-</td></tr><tr><td>1940</td><td>42,376</td><td>6,792</td><td>2,017</td><td>-</td><td>4,775</td><td>2,458</td><td>33,126</td><td>29,961</td><td>3,166</td><td>5,498</td><td>287</td><td>5,211</td><td>-</td></tr><tr><td>1941</td><td>48,387</td><td>8,214</td><td>2,093</td><td>1</td><td>6,120</td><td>2,180</td><td>37,993</td><td>33,439</td><td>4,554</td><td>6,360</td><td>273</td><td>6,087</td><td>-</td></tr><tr><td>1942</td><td>71,968</td><td>10,330</td><td>2,442</td><td>3</td><td>7,885</td><td>2,640</td><td>58,998</td><td>45,491</td><td>13,507</td><td>4,949</td><td>286</td><td>4,263</td><td>-</td></tr><tr><td>1943</td><td>135,380</td><td>14,080</td><td>3,202</td><td>7</td><td>10,671</td><td>7,149</td><td>114,152</td><td>64,959</td><td>29,193</td><td>4,092</td><td>285</td><td>3,738</td><td>68</td></tr><tr><td>1942-sept.</td><td>85,847</td><td>11,106</td><td>2,592</td><td>4</td><td>8,509</td><td>3,552</td><td>71,189</td><td>54,257</td><td>16,932</td><td>4,552</td><td>319</td><td>4,196</td><td>37</td></tr><tr><td>Oct.</td><td>92,265</td><td>11,198</td><td>2,609</td><td>4</td><td>8,585</td><td>4,649</td><td>76,417</td><td>57,750</td><td>18,667</td><td>4,243</td><td>326</td><td>3,870</td><td>48</td></tr><tr><td>Nov.</td><td>95,458</td><td>11,400</td><td>2,608</td><td>4</td><td>8,787</td><td>5,377</td><td>78,682</td><td>58,569</td><td>20,113</td><td>4,244</td><td>332</td><td>3,863</td><td>48</td></tr><tr><td>Dec.</td><td>107,308</td><td>11,927</td><td>2,891</td><td>5</td><td>9,032</td><td>6,152</td><td>89,228</td><td>67,445</td><td>21,783</td><td>4,283</td><td>348</td><td>3,848</td><td>67</td></tr><tr><td>1943-Jan.</td><td>110,024</td><td>12,036</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><td>81</td></tr><tr><td>Feb.</td><td>112,851</td><td>12,397</td><td>2,826</td><td>6</td><td>9,565</td><td>5,821</td><td>94,632</td><td>70,079</td><td>24,554</td><td>4,275</td><td>343</td><td>3,853</td><td>79</td></tr><tr><td>Mar.</td><td>114,287</td><td>12,802</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><td>78</td></tr><tr><td>Apr.</td><td>128,643</td><td>13,002</td><td>3,201</td><td>6</td><td>9,795</td><td>6,400</td><td>109,240</td><td>81,791</td><td>27,449</td><td>4,363</td><td>404</td><td>3,884</td><td>76</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><td>74</td></tr><tr><td>June</td><td>135,380</td><td>14,080</td><td>3,202</td><td>7</td><td>10,671</td><td>7,149</td><td>114,152</td><td>84,959</td><td>29,193</td><td>4,092</td><td>285</td><td>3,738</td><td>68</td></tr><tr><td>July</td><td>140,238</td><td>14,594</td><td>3,131</td><td>7</td><td>11,456</td><td>8,154</td><td>117,491</td><td>87,328</td><td>30,163</td><td>3,782</td><td>296</td><td>3,415</td><td>71</td></tr><tr><td>Aug.</td><td>142,721</td><td>15,038</td><td>3,125</td><td>7</td><td>11,907</td><td>9,055</td><td>118,628</td><td>87,756</td><td>30,872</td><td>3,934</td><td>326</td><td>3,535</td><td>73</td></tr><tr><td>Sept.</td><td>157,053</td><td>15,474 p</td><td>3,750 p</td><td>7 p</td><td>11,717</td><td>8,886</td><td>132,694p</td><td>98,790p</td><td>33,904 p</td><td>3,904</td><td>326 p</td><td>3,561 p</td><td>77</td></tr></table>
Source: (1) Total amounts outstanding: Daily Treasury Statements; (2) Securities held by U. S. Government agencies and trust funds; reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks: Federal Reserve System. p * Less than $500,000. 1/ Excludes matured securities and obligations sold directly to the Treasury. 2/ Excludes Exchange Stabilization Fund. 3/ 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>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td>-37.1</td><td>-40.4</td><td>5.0</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-.3</td><td>-4.4</td><td>-.3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-.7</td><td>-.2</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-.2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-.5</td><td>30.0</td><td>5.8</td><td>.3</td><td>-</td><td>.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>-67.8</td><td>-15.8</td><td>-2.7</td><td>-</td><td>-</td><td>-</td></tr></table>
Less than $50,000.
1/ Consists of purchases or sales made by the Treasury. Treasury investment accounts comprise (1) trust funds which by law are under the control of the Secretary of the Treasury or of the Treasurer of the United States, and (2) accounts under the control of certain
U. S. Government agencies whose investments are handled through the facilities of the Treasury Department. This table also includes purchases under Section 19 of the Second Liberty Bond Act, as amended, and excludes the Exchange Stabilization Fund.
55
Summary Data from Treasury Survey of Ownership of Securities
Issued or Guaranteed by the United States, August 31, 1943
The following tables present summary data from the Treasury survey, as of August 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.
A regrouping of insurance companies was reflected for the first time in the Treasury survey as of June 30, 1943 which appeared in the August issue of the "Treasury Bulletin". Because of this regrouping, data as of June 30, July 31, and August 31, 1943 on life insurance companies and on fire, casualty, and marine insurance companies should not be compared with similar data for prior months. Revisions of the earlier figures will be published in a forthcoming issue of the "Treasury Bulletin".
Table I.- Analysis of Ownership by Type of Security, by Call Classes, and by Tax-Exemption Provisions
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="6">Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,385 institutions</th><th colspan="2">6,629 banks</th><th colspan="3">756 insurance companies</th></tr><tr><th></th><th></th><th>Total</th><th>6,139 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>207 life insurance companies</th><th>549 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></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>12,846</td><td>5,600</td><td>5,355</td><td>5,233</td><td>122</td><td>245</td><td>228</td><td>16</td><td>5,712</td><td>1,534</td></tr><tr><td>Certificates of indebtedness</td><td>17,497</td><td>11,498</td><td>11,183</td><td>11,000</td><td>183</td><td>315</td><td>137</td><td>179</td><td>1,198</td><td>4,801</td></tr><tr><td>Treasury notes</td><td>11,875</td><td>8,139</td><td>7,777</td><td>7,533</td><td>244</td><td>362</td><td>224</td><td>138</td><td>777</td><td>2,959</td></tr><tr><td>Treasury bonds</td><td>57,520</td><td>40,797</td><td>29,568</td><td>25,168</td><td>4,418</td><td>11,211</td><td>9,715</td><td>1,496</td><td>4,459</td><td>12,264</td></tr><tr><td>Other bonds</td><td>196</td><td>14</td><td>13</td><td>13</td><td>*</td><td>1</td><td>*</td><td>1</td><td>34</td><td>148</td></tr><tr><td>Guaranteed issues 3/</td><td>3,861</td><td>2,823</td><td>2,530</td><td>2,481</td><td>49</td><td>293</td><td>260</td><td>33</td><td>325</td><td>713</td></tr><tr><td>Total</td><td>103,796</td><td>68,872</td><td>56,445</td><td>51,429</td><td>5,016</td><td>12,427</td><td>10,564</td><td>1,863</td><td>12,505</td><td>22,419</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>37,405</td><td>20,904</td><td>19,836</td><td>19,416</td><td>420</td><td>1,068</td><td>773</td><td>295</td><td>7,652</td><td>8,849</td></tr><tr><td>1 to 5 years</td><td>23,715</td><td>17,290</td><td>15,396</td><td>14,642</td><td>754</td><td>1,894</td><td>1,429</td><td>465</td><td>1,816</td><td>4,609</td></tr><tr><td>5 to 10 years</td><td>23,051</td><td>18,000</td><td>15,322</td><td>13,664</td><td>1,659</td><td>2,678</td><td>2,158</td><td>520</td><td>1,165</td><td>3,886</td></tr><tr><td>10 to 15 years</td><td>6,641</td><td>4,284</td><td>2,697</td><td>2,226</td><td>471</td><td>1,588</td><td>1,269</td><td>318</td><td>650</td><td>1,707</td></tr><tr><td>15 to 20 years</td><td>3,653</td><td>2,550</td><td>877</td><td>598</td><td>278</td><td>1,674</td><td>1,529</td><td>145</td><td>303</td><td>800</td></tr><tr><td>Over 20 years</td><td>9,309</td><td>5,824</td><td>2,310</td><td>877</td><td>1,433</td><td>3,514</td><td>3,396</td><td>119</td><td>918</td><td>2,567</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>19</td><td>7</td><td>6</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>2</td></tr><tr><td>Total</td><td>103,796</td><td>68,872</td><td>56,445</td><td>51,429</td><td>5,016</td><td>12,427</td><td>10,564</td><td>1,863</td><td>12,505</td><td>22,419</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>2,828</td><td>773</td><td>711</td><td>703</td><td>8</td><td>62</td><td>24</td><td>38</td><td>340</td><td>1,715</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>28,726</td><td>19,590</td><td>15,750</td><td>14,866</td><td>884</td><td>3,841</td><td>2,783</td><td>1,058</td><td>2,899</td><td>5,236</td></tr><tr><td>Subject to Federal income taxes</td><td>72,242</td><td>48,509</td><td>39,984</td><td>35,860</td><td>4,124</td><td>8,525</td><td>7,758</td><td>767</td><td>9,265</td><td>14,468</td></tr><tr><td>Total</td><td>103,796</td><td>68,872</td><td>56,445</td><td>51,429</td><td>5,016</td><td>12,427</td><td>10,564</td><td>1,863</td><td>12,505</td><td>22,419</td></tr></table>
(Continued on following page)
56
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, August 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 rowspan="2">Total amount outstanding</th><th colspan="7">Public marketable interest-bearing securities 1/ Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,385 institutions</th><th>Total</th><th>6,629 banks</th><th>756 insurance companies</th><th>6,139 commercial banks</th><th>490 mutual savings banks</th><th>207 life insurance companies</th><th>549 fire, casualty, and marine insurance companies</th></tr><tr><td>I. By type of security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>12.4</td><td>8.1</td><td>9.5</td><td>10.2</td><td>2.4</td><td>2.0</td><td>2.2</td><td>.9</td><td>45.7</td><td>6.8</td></tr><tr><td>Certificates of indebtedness</td><td>16.9</td><td>16.7</td><td>19.8</td><td>21.4</td><td>3.6</td><td>2.5</td><td>1.3</td><td>9.6</td><td>9.6</td><td>21.4</td></tr><tr><td>Treasury notes</td><td>11.4</td><td>11.8</td><td>13.8</td><td>14.6</td><td>4.9</td><td>2.9</td><td>2.1</td><td>7.4</td><td>6.2</td><td>13.2</td></tr><tr><td>Treasury bonds</td><td>55.4</td><td>59.2</td><td>52.4</td><td>48.9</td><td>85.1</td><td>90.2</td><td>92.0</td><td>80.3</td><td>35.7</td><td>54.7</td></tr><tr><td>Other bonds</td><td>.2</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>.3</td><td>.7</td></tr><tr><td>Guaranteed issues 3/</td><td>3.7</td><td>4.1</td><td>4.5</td><td>4.8</td><td>1.0</td><td>2.4</td><td>2.5</td><td>1.8</td><td>2.6</td><td>3.2</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><td>II. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>36.0</td><td>30.4</td><td>35.1</td><td>37.8</td><td>8.4</td><td>8.6</td><td>7.3</td><td>15.8</td><td>61.2</td><td>39.5</td></tr><tr><td>1 to 5 years</td><td>22.8</td><td>25.1</td><td>27.3</td><td>28.5</td><td>15.0</td><td>15.2</td><td>13.5</td><td>25.0</td><td>14.5</td><td>20.6</td></tr><tr><td>5 to 10 years</td><td>22.2</td><td>26.1</td><td>27.1</td><td>26.6</td><td>33.1</td><td>21.5</td><td>20.4</td><td>27.9</td><td>9.3</td><td>17.3</td></tr><tr><td>10 to 15 years</td><td>6.4</td><td>6.2</td><td>4.8</td><td>4.3</td><td>9.4</td><td>12.8</td><td>12.0</td><td>17.1</td><td>5.2</td><td>7.6</td></tr><tr><td>15 to 20 years</td><td>3.5</td><td>3.7</td><td>1.6</td><td>1.2</td><td>5.6</td><td>13.5</td><td>14.5</td><td>7.8</td><td>2.4</td><td>3.6</td></tr><tr><td>Over 20 years</td><td>9.0</td><td>8.5</td><td>4.1</td><td>1.7</td><td>28.6</td><td>28.3</td><td>32.1</td><td>6.4</td><td>7.3</td><td>11.4</td></tr><tr><td>Federal Housing Administration debentures</td><td></td><td></td><td></td><td></td><td></td><td>.1</td><td>.1</td><td></td><td></td><td></td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><td>III. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 4/</td><td>2.7</td><td>1.1</td><td>1.3</td><td>1.4</td><td>.2</td><td>.5</td><td>.2</td><td>2.0</td><td>2.7</td><td>7.6</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>27.7</td><td>28.4</td><td>27.9</td><td>28.9</td><td>17.6</td><td>30.9</td><td>26.3</td><td>56.8</td><td>23.2</td><td>27.8</td></tr><tr><td>Subject to Federal income taxes</td><td>69.6</td><td>70.4</td><td>70.8</td><td>69.7</td><td>82.2</td><td>68.6</td><td>73.4</td><td>41.2</td><td>74.1</td><td>64.5</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 out-standing</th><th colspan="7">Public marketable interest-bearing securities 1/ Held by banks and insurance companies covered in Treasury survey</th><th rowspan="2">Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,385 institutions</th><th colspan="2">6,629 banks</th><th colspan="4">756 insurance companies</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,139 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>207 life insurance companies</th><th>549 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>100.0</td><td>43.6</td><td>41.7</td><td>40.7</td><td>1.0</td><td>1.9</td><td>1.6</td><td>.1</td><td>44.5</td><td>11.9</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>65.7</td><td>63.9</td><td>62.9</td><td>1.0</td><td>1.8</td><td>.8</td><td>1.0</td><td>6.8</td><td>27.4</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>68.5</td><td>65.5</td><td>63.4</td><td>2.1</td><td>3.0</td><td>1.9</td><td>1.2</td><td>6.5</td><td>24.9</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>70.9</td><td>51.4</td><td>43.8</td><td>7.7</td><td>19.5</td><td>16.9</td><td>2.6</td><td>7.8</td><td>21.3</td></tr><tr><td>Other bonds</td><td>100.0</td><td>7.4</td><td>6.9</td><td>6.8</td><td>.1</td><td>.5</td><td>.1</td><td>.4</td><td>17.3</td><td>75.3</td></tr><tr><td>Guaranteed issues 3/</td><td>100.0</td><td>73.1</td><td>65.5</td><td>64.3</td><td>1.3</td><td>7.6</td><td>6.7</td><td>.9</td><td>8.4</td><td>18.5</td></tr><tr><td>Total</td><td>100.0</td><td>66.4</td><td>54.4</td><td>49.5</td><td>4.8</td><td>12.0</td><td>10.2</td><td>1.8</td><td>12.0</td><td>21.6</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>55.9</td><td>53.0</td><td>51.9</td><td>1.1</td><td>2.9</td><td>2.1</td><td>.8</td><td>20.5</td><td>23.7</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>72.9</td><td>64.9</td><td>61.7</td><td>3.2</td><td>8.0</td><td>6.0</td><td>2.0</td><td>7.7</td><td>19.4</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>78.1</td><td>66.5</td><td>59.3</td><td>7.2</td><td>11.6</td><td>9.4</td><td>2.3</td><td>5.1</td><td>16.9</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>84.5</td><td>40.6</td><td>33.5</td><td>7.1</td><td>23.9</td><td>19.1</td><td>4.8</td><td>9.8</td><td>25.7</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>69.8</td><td>24.0</td><td>16.4</td><td>7.6</td><td>45.8</td><td>41.8</td><td>4.0</td><td>8.3</td><td>21.9</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>62.6</td><td>24.8</td><td>9.4</td><td>15.4</td><td>37.6</td><td>36.5</td><td>1.3</td><td>9.9</td><td>27.6</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>86.9</td><td>32.1</td><td>29.1</td><td>3.0</td><td>54.8</td><td>54.5</td><td>.3</td><td>5.8</td><td>7.3</td></tr><tr><td>Total</td><td>100.0</td><td>66.4</td><td>54.4</td><td>49.5</td><td>4.8</td><td>12.0</td><td>10.2</td><td>1.8</td><td>12.0</td><td>21.6</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>27.3</td><td>25.1</td><td>24.9</td><td>.3</td><td>2.2</td><td>.8</td><td>1.3</td><td>12.0</td><td>60.6</td></tr><tr><td>Partially exempt from Federal income taxes 5/</td><td>100.0</td><td>68.2</td><td>54.8</td><td>51.7</td><td>3.1</td><td>13.4</td><td>9.7</td><td>3.7</td><td>10.1</td><td>21.7</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>67.1</td><td>55.3</td><td>49.6</td><td>5.7</td><td>11.8</td><td>10.7</td><td>1.1</td><td>12.6</td><td>20.0</td></tr><tr><td>Total</td><td>100.0</td><td>66.4</td><td>54.4</td><td>49.5</td><td>4.8</td><td>12.0</td><td>10.2</td><td>1.8</td><td>12.0</td><td>21.6</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) depositary bonds, (4) United States savings bonds, (5) Treasury savings notes and (6) Commodity Credit Corporation demand obligations. Such obligations were held by institutions reporting, as follows: (1) depositary bonds; commercial banks, $234 millions; (2) United States savings bonds; commercial banks, $207 millions; mutual savings banks, $107 millions; insurance companies, $112 millions; all institutions, $456 millions; (3) Treasury savings notes; commercial banks, $49 millions; insurance companies, $25 millions;
all institutions, $70 millions; (4) Commodity Credit Corporation demand obligations; holdings of these obligations are not reported. Excludes Exchange Stabilization Fund. Excludes obligations sold directly to the Treasury. Securities the income from which is exempt from the normal rates and the surtax rates of the Federal income tax. Securities the income from which is exempt from the normal rates of the Federal income tax. (In the case of partially tax-exempt Treasury bonds, interest derived from $5,000 of principal amount owned by any single holder is also exempt from the surtax rates of the Federal income tax.)
57
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, August 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 outstanding</th><th>Total 7,385 institutions</th><th colspan="4">Held by banks and insurance companies covered in Treasury survey</th><th>Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,629 commercial banks</th><th colspan="2">756 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>490 mutual savings banks</th><th>Total</th><th>207 life insurance companies</th><th>549 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>I. Wholly exempt from Federal income taxes 1/</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 3/4 September 1943</td><td>279</td><td>86</td><td>83</td><td>81</td><td>2</td><td>3</td><td>2</td><td>32</td><td>162</td></tr><tr><td>1-1/8% December 1943</td><td>421</td><td>124</td><td>98</td><td>96</td><td>2</td><td>26</td><td>21</td><td>5</td><td>36</td><td>261</td></tr><tr><td>1 3/4 March 1944</td><td>515</td><td>173</td><td>167</td><td>165</td><td>2</td><td>6</td><td>*</td><td>6</td><td>68</td><td>254</td></tr><tr><td>3/4% June 1944</td><td>416</td><td>122</td><td>115</td><td>114</td><td>1</td><td>7</td><td>2</td><td>5</td><td>60</td><td>234</td></tr><tr><td>1 3/4 September 1944</td><td>283</td><td>33</td><td>32</td><td>30</td><td>1</td><td>2</td><td>*</td><td>2</td><td>28</td><td>222</td></tr><tr><td>3/4% March 1945</td><td>718</td><td>220</td><td>203</td><td>202</td><td>1</td><td>17</td><td>*</td><td>17</td><td>63</td><td>435</td></tr><tr><td>Total Treasury notes</td><td>2,632</td><td>758</td><td>697</td><td>690</td><td>8</td><td>61</td><td>24</td><td>37</td><td>307</td><td>1,567</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>13</td><td>12</td><td>12</td><td>*</td><td>1</td><td>*</td><td>1</td><td>34</td><td>70</td></tr><tr><td>Panama Canal</td><td>50</td><td>1</td><td>1</td><td>1</td><td>-</td><td>*</td><td>*</td><td>*</td><td>-</td><td>49</td></tr><tr><td>Conversion</td><td>29</td><td>*</td><td>*</td><td>*</td><td>-</td><td>*</td><td>*</td><td>*</td><td>-</td><td>29</td></tr><tr><td>Total bonds</td><td>196</td><td>14</td><td>13</td><td>13</td><td>*</td><td>1</td><td>*</td><td>1</td><td>34</td><td>148</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>2,828</td><td>773</td><td>711</td><td>703</td><td>8</td><td>62</td><td>24</td><td>38</td><td>340</td><td>1,715</td></tr><tr><td>II. Partially exempt from Federal income taxes 1/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>3-1/4% October 1943-45</td><td>1,401</td><td>733</td><td>678</td><td>645</td><td>34</td><td>55</td><td>33</td><td>22</td><td>186</td><td>481</td></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>792</td><td>593</td><td>554</td><td>39</td><td>200</td><td>161</td><td>39</td><td>268</td><td>458</td></tr><tr><td>1 3/4% December 1944-54</td><td>1,037</td><td>507</td><td>471</td><td>432</td><td>39</td><td>136</td><td>101</td><td>35</td><td>104</td><td>327</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>769</td><td>588</td><td>545</td><td>43</td><td>181</td><td>153</td><td>28</td><td>165</td><td>280</td></tr><tr><td>2-1/2% December 1945-57</td><td>541</td><td>416</td><td>366</td><td>352</td><td>13</td><td>51</td><td>21</td><td>29</td><td>19</td><td>105</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>318</td><td>216</td><td>198</td><td>19</td><td>102</td><td>87</td><td>14</td><td>70</td><td>101</td></tr><tr><td>3/4% June 1946-48</td><td>1,036</td><td>640</td><td>468</td><td>418</td><td>50</td><td>172</td><td>141</td><td>31</td><td>205</td><td>191</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>488</td><td>356</td><td>322</td><td>34</td><td>132</td><td>110</td><td>22</td><td>88</td><td>243</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>417</td><td>309</td><td>270</td><td>39</td><td>108</td><td>73</td><td>35</td><td>82</td><td>259</td></tr><tr><td>2% December 1947</td><td>701</td><td>508</td><td>572</td><td>564</td><td>8</td><td>36</td><td>5</td><td>30</td><td>1</td><td>91</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,223</td><td>948</td><td>815</td><td>775</td><td>41</td><td>133</td><td>97</td><td>36</td><td>161</td><td>114</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>40</td><td>25</td><td>15</td><td>-</td><td>58</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>479</td><td>449</td><td>X 445</td><td>4</td><td>30</td><td>7</td><td>23</td><td>44</td><td>48</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>391</td><td>305</td><td>278</td><td>27</td><td>86</td><td>60</td><td>26</td><td>41</td><td>59</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,317</td><td>1,214</td><td>1,173</td><td>41</td><td>103</td><td>42</td><td>61</td><td>232</td><td>237</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>925</td><td>793</td><td>754</td><td>39</td><td>132</td><td>84</td><td>48</td><td>118</td><td>143</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,248</td><td>950</td><td>878</td><td>72</td><td>298</td><td>234</td><td>64</td><td>167</td><td>211</td></tr><tr><td>3/4% September 1951-55</td><td>755</td><td>367</td><td>283</td><td>255</td><td>29</td><td>84</td><td>57</td><td>26</td><td>80</td><td>309</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>878</td><td>834</td><td>818</td><td>16</td><td>44</td><td>18</td><td>26</td><td>109</td><td>131</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>649</td><td>623</td><td>615</td><td>8</td><td>26</td><td>2</td><td>24</td><td>15</td><td>60</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>554</td><td>453</td><td>443</td><td>10</td><td>101</td><td>64</td><td>37</td><td>44</td><td>83</td></tr><tr><td>2-7/8% March 1955-60</td><td>2,611</td><td>1,265</td><td>860</td><td>771</td><td>90</td><td>405</td><td>281</td><td>124</td><td>359</td><td>988</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>681</td><td>455</td><td>423</td><td>32</td><td>226</td><td>157</td><td>69</td><td>128</td><td>173</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>707</td><td>375</td><td>342</td><td>33</td><td>333</td><td>263</td><td>69</td><td>68</td><td>144</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,054</td><td>682</td><td>597</td><td>84</td><td>372</td><td>272</td><td>100</td><td>109</td><td>323</td></tr><tr><td>Total Treasury bonds</td><td>26,127</td><td>17,644</td><td>14,061</td><td>13,212</td><td>850</td><td>3,583</td><td>2,548</td><td>1,035</td><td>2,865</td><td>5,617</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>59</td><td>32</td><td>25</td><td>7</td><td>27</td><td>26</td><td>1</td><td>3</td><td>33</td></tr><tr><td>3/4 May 1944-49</td><td>835</td><td>599</td><td>495</td><td>487</td><td>8</td><td>104</td><td>98</td><td>6</td><td>13</td><td>223</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>19</td><td>7</td><td>6</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>2</td></tr><tr><td>Home Owners' Loan Corporation</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 May 1944-52</td><td>779</td><td>503</td><td>435</td><td>419</td><td>15</td><td>68</td><td>62</td><td>6</td><td>14</td><td>262</td></tr><tr><td>1-1/2% June 1945-47</td><td>755</td><td>678</td><td>633</td><td>629</td><td>4</td><td>45</td><td>37</td><td>8</td><td>3</td><td>74</td></tr><tr><td>Federal Public Housing Authority</td><td>114</td><td>89</td><td>87</td><td>85</td><td>*</td><td>2</td><td>*</td><td>2</td><td>*</td><td>26</td></tr><tr><td>1-3/8% February 1944</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 guaranteed issues</td><td>2,599</td><td>1,946</td><td>1,688</td><td>1,654</td><td>34</td><td>258</td><td>235</td><td>23</td><td>34</td><td>619</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>28,726</td><td>19,590</td><td>15,750</td><td>14,866</td><td>884</td><td>3,841</td><td>2,783</td><td>1,058</td><td>2,899</td><td>6,236</td></tr></table>
(Continued on following page)
58
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, August 31, 1943 - (Continued)
Table 11.- Distribution of Ownership for Each Issue Outstanding - (Continued
PART A - PA. TAL. IN MILLIONS OF DOLLARS-(Continued)
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total institutions</th><th colspan="3">6,629 banks</th><th colspan="3">756 insurance companies</th><th>Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>Commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>207 life insurance companies</th><th>549 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td colspan="11">III. Subject to Federal income taxes</td></tr><tr><td>Treasury bills</td><td>12,846</td><td>5,600</td><td>5,355</td><td>5,233</td><td>122</td><td>245</td><td>228</td><td>16</td><td>5,712</td><td>1,534</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% November 1943</td><td>2,035</td><td>1,307</td><td>1,266</td><td>1,253</td><td>14</td><td>41</td><td>17</td><td>24</td><td>381</td><td>347</td></tr><tr><td>7/8% December 1943</td><td>3,800</td><td>2,478</td><td>2,447</td><td>2,426</td><td>22</td><td>31</td><td>4</td><td>27</td><td>199</td><td>1,123</td></tr><tr><td>7/8% February 1944</td><td>2,211</td><td>1,690</td><td>1,627</td><td>1,587</td><td>40</td><td>63</td><td>24</td><td>38</td><td>41</td><td>81</td></tr><tr><td>7/8% April 1944</td><td>5,251</td><td>2,734</td><td>2,586</td><td>2,504</td><td>83</td><td>147</td><td>87</td><td>61</td><td>79</td><td>2,438</td></tr><tr><td>7/8% May 1944</td><td>1,655</td><td>1,331</td><td>1,319</td><td>1,308</td><td>10</td><td>12</td><td>3</td><td>9</td><td>215</td><td>109</td></tr><tr><td>7/8% August 1944</td><td>2,545</td><td>1,959</td><td>1,938</td><td>1,923</td><td>15</td><td>21</td><td>1</td><td>19</td><td>284</td><td>303</td></tr><tr><td>Total certificates of indebtedness</td><td>17,497</td><td>11,498</td><td>11,183</td><td>11,000</td><td>183</td><td>315</td><td>137</td><td>179</td><td>1,198</td><td>4,801</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>516</td><td>488</td><td>474</td><td>14</td><td>29</td><td>22</td><td>7</td><td>8</td><td>111</td></tr><tr><td>1-1/4% March 1945</td><td>1,606</td><td>1,181</td><td>1,132</td><td>1,106</td><td>26</td><td>49</td><td>36</td><td>14</td><td>163</td><td>261</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>442</td><td>412</td><td>401</td><td>11</td><td>30</td><td>20</td><td>9</td><td>21</td><td>67</td></tr><tr><td>1% March 1946</td><td>503</td><td>435</td><td>404</td><td>391</td><td>13</td><td>31</td><td>24</td><td>7</td><td>1</td><td>66</td></tr><tr><td>1-1/2% December 1946</td><td>3,261</td><td>2,630</td><td>2,559</td><td>2,486</td><td>73</td><td>72</td><td>37</td><td>34</td><td>277</td><td>354</td></tr><tr><td>1-1/2% September 1947</td><td>2,707</td><td>2,175</td><td>2,085</td><td>1,986</td><td>99</td><td>91</td><td>62</td><td>28</td><td></td><td>532</td></tr><tr><td>Total Treasury notes</td><td>9,243</td><td>7,381</td><td>7,080</td><td>6,844</td><td>236</td><td>301</td><td>201</td><td>101</td><td>470</td><td>1,392</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>897</td><td>676</td><td>536</td><td>139</td><td>222</td><td>201</td><td>21</td><td>65</td><td>153</td></tr><tr><td>1-3/4% June 1948</td><td>3,062</td><td>2,504</td><td>2,273</td><td>2,194</td><td>79</td><td>232</td><td>180</td><td>52</td><td>7</td><td>550</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>913</td><td>754</td><td>637</td><td>116</td><td>159</td><td>145</td><td>14</td><td>29</td><td>72</td></tr><tr><td>2% September 1949-51</td><td>1,292</td><td>1,154</td><td>1,007</td><td>878</td><td>129</td><td>147</td><td>131</td><td>17</td><td>14</td><td>124</td></tr><tr><td>2% December 1949-51</td><td>2,098</td><td>1,725</td><td>1,503</td><td>1,375</td><td>129</td><td>222</td><td>200</td><td>22</td><td>15</td><td>357</td></tr><tr><td>2% March 1950-52</td><td>1,963</td><td>1,784</td><td>1,546</td><td>1,452</td><td>94</td><td>237</td><td>217</td><td>21</td><td>25</td><td>154</td></tr><tr><td>2% September 1950-52</td><td>4,939</td><td>3,455</td><td>2,813</td><td>2,517</td><td>296</td><td>642</td><td>559</td><td>84</td><td>114</td><td>1,370</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>398</td><td>362</td><td>343</td><td>19</td><td>36</td><td>26</td><td>11</td><td>18</td><td>94</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>737</td><td>594</td><td>263</td><td>331</td><td>143</td><td>130</td><td>13</td><td>69</td><td>217</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,187</td><td>940</td><td>638</td><td>302</td><td>248</td><td>223</td><td>25</td><td>72</td><td>241</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,078</td><td>554</td><td>247</td><td>307</td><td>524</td><td>505</td><td>20</td><td>51</td><td>320</td></tr><tr><td>2-1/2% June 1958-67</td><td>2,118</td><td>1,496</td><td>194</td><td>-</td><td>194</td><td>1,301</td><td>1,257</td><td>45</td><td>195</td><td>428</td></tr><tr><td>2-1/2% December 1963-68</td><td>2,831</td><td>1,858</td><td>494</td><td>-</td><td>494</td><td>1,364</td><td>1,326</td><td>38</td><td>267</td><td>707</td></tr><tr><td>2-1/2% June 1964-69</td><td>3,762</td><td>2,173</td><td>610</td><td>-</td><td>610</td><td>1,564</td><td>1,521</td><td>42</td><td>380</td><td>1,208</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,793</td><td>1,206</td><td>877</td><td>329</td><td>587</td><td>548</td><td>39</td><td>271</td><td>651</td></tr><tr><td>Total Treasury bonds</td><td>31,394</td><td>23,153</td><td>15,525</td><td>11,957</td><td>3,568</td><td>7,629</td><td>7,167</td><td>461</td><td>1,593</td><td>6,047</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>412</td><td>364</td><td>338</td><td>330</td><td>8</td><td>26</td><td>21</td><td>4</td><td>4</td><td>44</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% April 1944</td><td>571</td><td>513</td><td>504</td><td>497</td><td>7</td><td>9</td><td>4</td><td>6</td><td>9</td><td>50</td></tr><tr><td>1% January 1945</td><td>279</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>279</td><td>-</td></tr><tr><td>Total guaranteed issues</td><td>1,262</td><td>877</td><td>842</td><td>827</td><td>15</td><td>35</td><td>25</td><td>10</td><td>292</td><td>93</td></tr><tr><td>Total subject to Federal income taxes</td><td>72,242</td><td>48,509</td><td>39,984</td><td>35,860</td><td>4,124</td><td>8,525</td><td>7,758</td><td>767</td><td>9,265</td><td>14,468</td></tr><tr><td>IV. Grand total</td><td>103,796</td><td>68,872</td><td>56,445</td><td>51,429</td><td>5,016</td><td>12,427</td><td>10,564</td><td>1,853</td><td>12,505</td><td>22,419</td></tr></table>
(Continued on following page)
59
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, August 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 colspan="4">Held by banks and insurance companies covered in Treasury survey</th><th colspan="4">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 7,385 institutions</th><th colspan="2">6,629 banks</th><th colspan="3">756 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,139 commercial banks</th><th>490 mutual savings banks</th><th>Total</th><th>207 life insurance companies</th><th>549 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td colspan="11">I. Wholly exempt from Federal income taxes 3/</td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1% September 1943</td><td>100.0</td><td>30.7</td><td>29.3</td><td>29.1</td><td>.6</td><td>1.0</td><td>.1</td><td>.9</td><td>11.3</td><td>58.0</td></tr><tr><td>1-1/8% December 1943</td><td>100.0</td><td>29.4</td><td>23.3</td><td>22.8</td><td>.4</td><td>6.2</td><td>4.9</td><td>1.3</td><td>8.6</td><td>62.0</td></tr><tr><td>1% March 1944</td><td>100.0</td><td>33.6</td><td>32.4</td><td>32.1</td><td>.3</td><td>1.2</td><td>*</td><td>1.2</td><td>17.1</td><td>49.3</td></tr><tr><td>3/4% June 1944</td><td>100.0</td><td>29.4</td><td>27.6</td><td>27.5</td><td>.2</td><td>1.8</td><td>.6</td><td>1.2</td><td>14.3</td><td>56.3</td></tr><tr><td>1% September 1944</td><td>100.0</td><td>11.7</td><td>11.2</td><td>10.8</td><td>.4</td><td>.5</td><td>-.6</td><td>.6</td><td>10.0</td><td>78.3</td></tr><tr><td>3/4% March 1945</td><td>100.0</td><td>30.6</td><td>28.3</td><td>28.2</td><td>.1</td><td>2.3</td><td>*</td><td>2.3</td><td>8.8</td><td>60.6</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>28.8</td><td>26.5</td><td>26.2</td><td>.3</td><td>2.3</td><td>.9</td><td>1.4</td><td>11.6</td><td>59.5</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>11.3</td><td>10.6</td><td>10.5</td><td>.1</td><td>.6</td><td>.1</td><td>.5</td><td>28.9</td><td>59.8</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.8</td><td>1.4</td><td>1.4</td><td>-</td><td>.4</td><td>.3</td><td>.1</td><td>-</td><td>98.2</td></tr><tr><td>Conversion</td><td>100.0</td><td>1.3</td><td>1.1</td><td>1.1</td><td>-</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>98.7</td></tr><tr><td>Total bonds</td><td>100.0</td><td>7.4</td><td>6.9</td><td>6.8</td><td>.1</td><td>.5</td><td>.1</td><td>.4</td><td>17.3</td><td>75.3</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>27.3</td><td>25.1</td><td>24.9</td><td>.3</td><td>2.2</td><td>.8</td><td>1.3</td><td>12.0</td><td>60.6</td></tr><tr><td colspan="11">II. Partially exempt from Federal income taxes 4/</td></tr><tr><td>Treasury bonds</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>3-1/4% October 1941-45</td><td>100.0</td><td>52.4</td><td>48.4</td><td>46.0</td><td>2.4</td><td>3.9</td><td>2.4</td><td>1.6</td><td>13.3</td><td>34.4</td></tr><tr><td>3-1/4% April 1944-46</td><td>100.0</td><td>52.2</td><td>39.0</td><td>36.5</td><td>2.5</td><td>13.2</td><td>10.6</td><td>2.5</td><td>17.7</td><td>30.2</td></tr><tr><td>4% December 1944-54</td><td>100.0</td><td>58.5</td><td>45.4</td><td>41.6</td><td>3.8</td><td>13.1</td><td>9.7</td><td>3.3</td><td>10.0</td><td>31.5</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>63.3</td><td>48.4</td><td>44.9</td><td>3.5</td><td>14.9</td><td>12.6</td><td>2.3</td><td>13.6</td><td>23.2</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>77.0</td><td>67.6</td><td>65.2</td><td>2.5</td><td>9.4</td><td>4.0</td><td>5.4</td><td>3.6</td><td>19.4</td></tr><tr><td>3-1/4% March 1946-56</td><td>100.0</td><td>65.0</td><td>44.2</td><td>40.4</td><td>3.8</td><td>20.8</td><td>17.9</td><td>2.9</td><td>14.3</td><td>20.7</td></tr><tr><td>3% June 1946-48</td><td>100.0</td><td>61.8</td><td>45.2</td><td>40.4</td><td>4.8</td><td>16.6</td><td>13.6</td><td>3.0</td><td>19.8</td><td>18.4</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>59.6</td><td>43.5</td><td>39.3</td><td>4.2</td><td>16.1</td><td>13.4</td><td>2.7</td><td>10.7</td><td>29.7</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>55.0</td><td>40.7</td><td>35.5</td><td>5.2</td><td>14.3</td><td>9.6</td><td>4.6</td><td>10.9</td><td>34.2</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>86.8</td><td>81.6</td><td>80.4</td><td>1.2</td><td>5.1</td><td>.8</td><td>4.3</td><td>.2</td><td>13.0</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>77.5</td><td>66.6</td><td>63.3</td><td>3.3</td><td>10.9</td><td>8.0</td><td>2.9</td><td>13.1</td><td>9.4</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>87.0</td><td>78.2</td><td>76.7</td><td>1.6</td><td>8.8</td><td>5.5</td><td>3.3</td><td>-</td><td>13.0</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>83.9</td><td>78.6</td><td>77.9</td><td>.7</td><td>5.3</td><td>1.2</td><td>4.0</td><td>7.7</td><td>8.4</td></tr><tr><td>3-1/8% December 1949-52</td><td>100.0</td><td>79.5</td><td>62.0</td><td>56.6</td><td>5.4</td><td>17.5</td><td>12.2</td><td>5.3</td><td>8.4</td><td>12.0</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>73.7</td><td>68.0</td><td>65.7</td><td>2.3</td><td>5.8</td><td>2.3</td><td>3.4</td><td>13.0</td><td>13.3</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>78.0</td><td>66.9</td><td>63.6</td><td>3.3</td><td>11.1</td><td>7.1</td><td>4.1</td><td>10.0</td><td>12.0</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>76.7</td><td>58.4</td><td>54.0</td><td>4.4</td><td>18.3</td><td>14.4</td><td>4.0</td><td>10.3</td><td>13.0</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>48.6</td><td>37.5</td><td>33.7</td><td>3.8</td><td>11.1</td><td>7.6</td><td>3.5</td><td>10.6</td><td>40.8</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>73.5</td><td>74.6</td><td>73.1</td><td>1.5</td><td>3.9</td><td>1.6</td><td>2.3</td><td>9.8</td><td>11.7</td></tr><tr><td>3% June 1953-55</td><td>100.0</td><td>89.5</td><td>85.9</td><td>84.8</td><td>1.1</td><td>3.6</td><td>.3</td><td>3.3</td><td>2.2</td><td>8.3</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>81.4</td><td>66.6</td><td>65.1</td><td>1.5</td><td>14.8</td><td>9.3</td><td>5.5</td><td>6.5</td><td>12.2</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>48.4</td><td>33.0</td><td>29.5</td><td>3.4</td><td>15.5</td><td>10.8</td><td>4.7</td><td>13.7</td><td>37.8</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>69.3</td><td>46.3</td><td>43.1</td><td>3.2</td><td>23.0</td><td>16.0</td><td>7.0</td><td>13.0</td><td>17.6</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>77.0</td><td>40.8</td><td>37.2</td><td>3.6</td><td>36.2</td><td>28.7</td><td>7.6</td><td>7.4</td><td>15.6</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>70.9</td><td>45.9</td><td>40.2</td><td>5.7</td><td>25.1</td><td>18.3</td><td>6.7</td><td>7.3</td><td>21.7</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>67.5</td><td>53.8</td><td>50.6</td><td>3.3</td><td>13.7</td><td>9.8</td><td>4.0</td><td>11.0</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>62.3</td><td>33.8</td><td>26.8</td><td>7.0</td><td>28.5</td><td>27.6</td><td>.9</td><td>3.4</td><td>34.3</td></tr><tr><td>3% May 1944-49</td><td>100.0</td><td>71.7</td><td>59.3</td><td>58.4</td><td>.9</td><td>12.5</td><td>11.8</td><td>.7</td><td>1.5</td><td>26.7</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>86.9</td><td>32.1</td><td>29.1</td><td>3.0</td><td>54.8</td><td>54.5</td><td>.3</td><td>5.8</td><td>7.3</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>64.6</td><td>55.8</td><td>53.9</td><td>1.9</td><td>8.8</td><td>7.9</td><td>.8</td><td>1.8</td><td>33.7</td></tr><tr><td>1-1/2% June 1945-47</td><td>100.0</td><td>89.8</td><td>83.9</td><td>83.3</td><td>.6</td><td>5.9</td><td>4.8</td><td>1.1</td><td>.3</td><td>9.8</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>77.6</td><td>75.8</td><td>75.6</td><td>.2</td><td>1.8</td><td>.4</td><td>1.3</td><td>*</td><td>22.4</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>74.9</td><td>65.0</td><td>63.6</td><td>1.3</td><td>9.9</td><td>9.0</td><td>.9</td><td>1.3</td><td>23.8</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>68.2</td><td>54.8</td><td>51.7</td><td>3.1</td><td>13.4</td><td>9.7</td><td>3.7</td><td>10.1</td><td>21.7</td></tr></table>
(Continued on following page)
60
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, August 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 7,385 institutions</th><th colspan="4">Held by banks and insurance companies covered to Treasury survey</th><th>Sold by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,629 banks</th><th colspan="3">756 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,139 commercial banks</th><th>490 mutual savings banks</th><th>Total 207 life insurance companies</th><th>549 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></tr><tr><td>Treasury bills</td><td>100.0</td><td>43.6</td><td>41.7</td><td>40.7</td><td>1.0</td><td>1.9</td><td>1.5</td><td>.1</td><td>44.5</td><td>11.9</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 November 1943</td><td>100.0</td><td>64.2</td><td>62.2</td><td>61.5</td><td>.7</td><td>2.0</td><td>.8</td><td>1.2</td><td>18.7</td><td>17.1</td></tr><tr><td>7/8 December 1943</td><td>100.0</td><td>65.2</td><td>64.4</td><td>63.8</td><td>.6</td><td>.8</td><td>.1</td><td>.7</td><td>5.2</td><td>29.5</td></tr><tr><td>7/8 February 1944</td><td>100.0</td><td>76.4</td><td>73.6</td><td>71.8</td><td>1.8</td><td>2.8</td><td>1.1</td><td>1.7</td><td>1.8</td><td>21.8</td></tr><tr><td>7/8 April 1944</td><td>100.0</td><td>52.1</td><td>49.3</td><td>47.7</td><td>1.6</td><td>2.8</td><td>1.7</td><td>1.2</td><td>1.5</td><td>46.4</td></tr><tr><td>7/8 May 1944</td><td>100.0</td><td>80.4</td><td>79.7</td><td>79.0</td><td>.6</td><td>.8</td><td>.2</td><td>.6</td><td>13.0</td><td>6.6</td></tr><tr><td>7/8 August 1944</td><td>100.0</td><td>77.0</td><td>76.1</td><td>75.5</td><td>.6</td><td>.8</td><td>.1</td><td>.8</td><td>11.1</td><td>11.9</td></tr><tr><td>Total certificates of indebtedness</td><td>100.0</td><td>65.7</td><td>63.9</td><td>62.9</td><td>1.0</td><td>1.8</td><td>.8</td><td>1.0</td><td>6.8</td><td>27.4</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>81.3</td><td>76.8</td><td>74.6</td><td>2.2</td><td>4.5</td><td>3.4</td><td>1.1</td><td>1.2</td><td>17.5</td></tr><tr><td>1-1/4 March 1945</td><td>100.0</td><td>73.6</td><td>70.5</td><td>68.8</td><td>1.6</td><td>3.1</td><td>2.2</td><td>.9</td><td>10.2</td><td>16.3</td></tr><tr><td>3/4 December 1945</td><td>100.0</td><td>83.3</td><td>77.7</td><td>75.6</td><td>2.1</td><td>5.6</td><td>3.8</td><td>1.8</td><td>4.0</td><td>12.7</td></tr><tr><td>1% March 1946</td><td>100.0</td><td>85.5</td><td>80.4</td><td>77.8</td><td>2.5</td><td>6.2</td><td>4.7</td><td>1.5</td><td>.2</td><td>13.2</td></tr><tr><td>1-1/4 December 1946</td><td>100.0</td><td>80.7</td><td>78.5</td><td>76.2</td><td>2.2</td><td>2.2</td><td>1.1</td><td>1.1</td><td>8.5</td><td>10.9</td></tr><tr><td>1-1/4 September 1947</td><td>100.0</td><td>80.4</td><td>77.0</td><td>73.3</td><td>3.7</td><td>3.3</td><td>2.3</td><td>1.0</td><td>*</td><td>19.6</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>79.9</td><td>76.6</td><td>74.0</td><td>2.6</td><td>3.3</td><td>2.2</td><td>1.1</td><td>5.1</td><td>15.1</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>80.4</td><td>60.6</td><td>48.1</td><td>12.5</td><td>19.9</td><td>18.0</td><td>1.9</td><td>5.9</td><td>13.7</td></tr><tr><td>1-3/4 June 1948</td><td>100.0</td><td>81.8</td><td>74.2</td><td>71.7</td><td>2.6</td><td>7.6</td><td>5.9</td><td>1.7</td><td>.2</td><td>18.0</td></tr><tr><td>2% June 1949-51</td><td>100.0</td><td>90.0</td><td>74.3</td><td>62.8</td><td>11.5</td><td>15.7</td><td>14.3</td><td>1.4</td><td>2.9</td><td>7.1</td></tr><tr><td>2% September 1949-51</td><td>100.0</td><td>89.3</td><td>77.9</td><td>67.9</td><td>10.0</td><td>11.4</td><td>10.1</td><td>1.3</td><td>1.1</td><td>9.6</td></tr><tr><td>2% December 1949-51</td><td>100.0</td><td>82.3</td><td>71.7</td><td>65.5</td><td>6.1</td><td>10.6</td><td>9.5</td><td>1.1</td><td>.7</td><td>17.0</td></tr><tr><td>2% March 1950-52</td><td>100.0</td><td>90.9</td><td>78.8</td><td>74.0</td><td>4.8</td><td>12.1</td><td>11.0</td><td>1.0</td><td>1.3</td><td>7.8</td></tr><tr><td>2% September 1950-52</td><td>100.0</td><td>70.0</td><td>57.0</td><td>51.0</td><td>6.0</td><td>13.0</td><td>11.3</td><td>1.7</td><td>2.3</td><td>27.7</td></tr><tr><td>2% December 1951-55</td><td>100.0</td><td>78.0</td><td>70.8</td><td>67.1</td><td>3.7</td><td>7.1</td><td>5.0</td><td>2.1</td><td>3.6</td><td>18.5</td></tr><tr><td>2-1/4 March 1952-54</td><td>100.0</td><td>72.0</td><td>58.0</td><td>25.7</td><td>32.3</td><td>14.0</td><td>12.7</td><td>1.3</td><td>6.7</td><td>21.2</td></tr><tr><td>2-1/4 June 1952-55</td><td>100.0</td><td>79.1</td><td>62.6</td><td>42.5</td><td>20.1</td><td>16.5</td><td>14.8</td><td>1.7</td><td>4.8</td><td>16.1</td></tr><tr><td>2-1/4 March 1956-58</td><td>100.0</td><td>74.4</td><td>38.2</td><td>17.0</td><td>21.2</td><td>36.2</td><td>34.8</td><td>1.3</td><td>3.5</td><td>22.1</td></tr><tr><td>2-1/4 June 1962-67</td><td>100.0</td><td>70.6</td><td>9.2</td><td>-</td><td>9.2</td><td>61.4</td><td>59.3</td><td>2.1</td><td>9.2</td><td>20.2</td></tr><tr><td>2-1/4 December 1963-68</td><td>100.0</td><td>65.6</td><td>17.4</td><td>-</td><td>17.4</td><td>48.2</td><td>46.8</td><td>1.3</td><td>9.4</td><td>25.0</td></tr><tr><td>2-1/4 June 1964-69</td><td>100.0</td><td>57.8</td><td>16.2</td><td>-</td><td>16.2</td><td>41.6</td><td>40.4</td><td>1.1</td><td>10.1</td><td>32.1</td></tr><tr><td>2-1/4 September 1967-72</td><td>100.0</td><td>66.0</td><td>44.4</td><td>32.3</td><td>12.1</td><td>21.6</td><td>20.2</td><td>1.4</td><td>10.0</td><td>24.0</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>73.8</td><td>49.5</td><td>38.1</td><td>11.4</td><td>24.3</td><td>22.8</td><td>1.5</td><td>5.1</td><td>21.2</td></tr><tr><td>Guaranteed issues 5/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation 1-1/8 February 1945</td><td>100.0</td><td>88.4</td><td>82.2</td><td>80.2</td><td>2.0</td><td>6.2</td><td>5.2</td><td>1.1</td><td>1.0</td><td>10.6</td></tr><tr><td>Reconstruction Finance Corporation 1% April 1944</td><td>100.0</td><td>89.8</td><td>88.2</td><td>87.0</td><td>1.2</td><td>1.6</td><td>.6</td><td>1.0</td><td>1.5</td><td>8.7</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>69.5</td><td>66.7</td><td>65.5</td><td>1.2</td><td>2.8</td><td>2.0</td><td>.8</td><td>23.1</td><td>7.4</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>67.1</td><td>55.3</td><td>49.6</td><td>5.7</td><td>11.8</td><td>10.7</td><td>1.1</td><td>12.3</td><td>20.0</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>66.4</td><td>54.4</td><td>49.5</td><td>4.8</td><td>12.0</td><td>10.2</td><td>1.5</td><td>12.0</td><td>21.6</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, (5) Treasury savings notes and (6) Commodity Credit Corporation demand obligations. Such obligations were held by institutions reporting, as follows: (1) depository bonds; commercial banks, $234 millions; (2) United States savings bonds; commercial banks, $207 millions; mutual savings banks, $107 millions; insurance companies, $142 millions; all institutions, $456 millions; (3) Treasury savings notes; comm
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)
- 61 -
62
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
September 30, 1943
Table I.-Securities Issued or Guaranteed by the United States Government
PART A - Tax, Lic, & Air Certificates
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price date (Price decimals are thirty-seconde)</th><th rowspan="2">Yield date 1/</th><th rowspan="2">Change in yield from Aug. 31, 1943</th><th rowspan="2">Change in maturity yield from Aug. 31, 1943</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-seconde)</th><th colspan="4">1943 price range 2/ (Price decimals are thirty-seconde)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>High</th><th>Low</th><th>High</th><th>Low</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><tr><td colspan="12">Treasury bonds</td></tr><tr><td>$1,115</td><td>24</td><td>3/15/48-50</td><td>101.31</td><td>102.01</td><td>102.00</td><td>-.01</td><td>1.53%</td><td>-.01%</td><td>1.67%</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>102.07</td><td>8/10</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>101.05</td><td>101.07</td><td>101.06</td><td>.00</td><td>1.49</td><td>.00</td><td>1.79</td><td>12/1/42</td><td>101.12</td><td>8/12/43</td><td>100.01</td><td>12/23/42</td><td>101.12</td><td>8/12</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>101.15</td><td>101.17</td><td>101.16</td><td>+.04</td><td>1.72</td><td>-.03</td><td>1.82</td><td>1/15/42</td><td>101.17</td><td>7/15/43</td><td>100.06</td><td>8/5/42</td><td>101.17</td><td>7/15</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>101.09</td><td>101.11</td><td>101.10</td><td>+.04</td><td>1.77</td><td>-.02</td><td>1.82</td><td>5/15/42</td><td>101.13</td><td>7/15/43</td><td>100.04</td><td>10/6/42</td><td>101.13</td><td>7/15</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>101.06</td><td>101.08</td><td>101.07</td><td>+.06</td><td>1.79</td><td>-.04</td><td>1.84</td><td>7/15/42</td><td>101.12</td><td>7/15/43</td><td>100.03</td><td>8/5/42</td><td>101.12</td><td>7/15</td><td>100.12</td><td>4/14</td></tr><tr><td>1,953</td><td>2</td><td>3/15/50-52</td><td>100.28</td><td>100.30</td><td>100.29</td><td>+.04</td><td>1.85</td><td>-.02</td><td>1.88</td><td>10/19/42</td><td>101.06</td><td>7/14/43</td><td>100.01</td><td>11/2/42</td><td>101.06</td><td>7/14</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>100.20</td><td>100.22</td><td>100.21</td><td>+.02</td><td>1.90</td><td>-.01</td><td>1.92</td><td>4/15/43</td><td>101.00</td><td>7/14/43</td><td>100.08</td><td>5/3/43</td><td>101.00</td><td>7/14</td><td>100.08</td><td>5/3</td></tr><tr><td>4,413</td><td>2</td><td>9/15/51-53</td><td>4/</td><td>4/</td><td>4/</td><td>-</td><td></td><td></td><td></td><td>9/15/43</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>510</td><td>2</td><td>12/15/51-55</td><td>100.12</td><td>100.14</td><td>100.13</td><td>.00</td><td>1.95</td><td>.00</td><td>1.96</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>100.31</td><td>7/3</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>104.03</td><td>104.05</td><td>104.04</td><td>+.01</td><td>1.97</td><td>-.01</td><td>2.06</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>104.18</td><td>7/17</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>102.03</td><td>102.05</td><td>102.04</td><td>+.04</td><td>1.98</td><td>-.02</td><td>2.05</td><td>2/25/42</td><td>102.14</td><td>7/19/43</td><td>100.16</td><td>2/18/42</td><td>102.14</td><td>7/19</td><td>101.09</td><td>1/2</td></tr><tr><td>1,449</td><td>2-1/2</td><td>3/15/55-58 5/</td><td>103.30</td><td>104.00</td><td>103.31</td><td>-.04</td><td>2.14</td><td>+.01</td><td>2.18</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>104.18</td><td>7/6</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 5/</td><td>100.13</td><td>100.15</td><td>100.14</td><td>-.03</td><td>2.47</td><td>+.01</td><td>2.48</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 5/</td><td>100.04</td><td>100.06</td><td>100.05</td><td>-.01</td><td>2.49</td><td>.00</td><td>2.49</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>100.03</td><td>9/18</td></tr><tr><td>3,762</td><td>2-1/2</td><td>6/15/64-69 5/</td><td>100.00</td><td>100.02</td><td>100.01</td><td>-.02</td><td>2.50</td><td>+.01</td><td>2.50</td><td>4/15/43</td><td>100.20</td><td>6/2/43</td><td>100.01</td><td>9/30/43</td><td>100.20</td><td>6/2</td><td>100.01</td><td>9/30</td></tr><tr><td>3,510</td><td>2-1/2</td><td>12/15/64-69 5/</td><td>4/</td><td>4/</td><td>4/</td><td>-</td><td></td><td></td><td></td><td>9/15/43</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>2,716</td><td>2-1/2</td><td>9/15/67-72 5/</td><td>100.23</td><td>100.25</td><td>100.24</td><td>-.03</td><td>2.46</td><td>+.01</td><td>2.46</td><td>10/20/41</td><td>103.15</td><td>11/5/41</td><td>100.01</td><td>1/2/42</td><td>101.06</td><td>7/6</td><td>100.16</td><td>4/12</td></tr><tr><td colspan="12">Treasury notes</td></tr><tr><td>635</td><td>3/4</td><td>9/15/44</td><td>99.30</td><td>100.00</td><td>99.31</td><td>.00</td><td>.78</td><td>.00</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>3/15/45</td><td>100.13</td><td>100.15</td><td>100.14</td><td>-.02</td><td>.95</td><td>+.03</td><td>-</td><td>9/25/42</td><td>100.20</td><td>7/7/43</td><td>100.00</td><td>10/30/42</td><td>100.20</td><td>7/7</td><td>100.04</td><td>1/2</td></tr><tr><td>531</td><td>3/4</td><td>8-12/15/45</td><td>99.23</td><td>99.25</td><td>99.24</td><td>-.01</td><td>.86</td><td>+.01</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>99.29</td><td>8/11</td><td>98.31</td><td>1/2</td></tr><tr><td>503</td><td>1</td><td>3/15/46</td><td>99.31</td><td>100.01</td><td>100.00</td><td>-.01</td><td>1.00</td><td>+.01</td><td>-</td><td>11/1/41</td><td>100.18</td><td>10/25/41</td><td>99.02</td><td>12/29/42</td><td>100.03</td><td>8/11</td><td>99.03</td><td>1/2</td></tr><tr><td>3,261</td><td>1-1/2</td><td>8-12/15/46</td><td>100.23</td><td>100.25</td><td>100.24</td><td>-.02</td><td>1.26</td><td>+.01</td><td>-</td><td>6/5/42</td><td>100.29</td><td>8/16/43</td><td>100.01</td><td>1/2/43</td><td>100.29</td><td>8/16</td><td>100.01</td><td>1/2</td></tr><tr><td>2,707</td><td>1-1/2</td><td>9/15/47</td><td>100.15</td><td>100.17</td><td>100.16</td><td>-.02</td><td>1.37</td><td>+.01</td><td>-</td><td>7/12/43</td><td>100.21</td><td>8/15/43</td><td>100.16</td><td>9/30/43</td><td>100.21</td><td>8/19</td><td>100.16</td><td>9/30</td></tr></table>
Certificates of
indebtedness
2.035 7/8 D - 11/1/43
3.800 7/8 E - 12/1/43
2.211 7/8 A - 2/1/44
5.251 7/8 B - 4/1/44
1.655 7/8 C - 5/1/44
2.545 7/8 D - 8/1/44
3.639 7/8 E - 9/1/44
(Quoted on a yield basis)
.43% .36% .40% .00% .51% .48% .50% .00% .64% .62% .63% -.04% .76% .74% .75% .00% .75% .73% .74% -.01% .76% .74% .75% .00%
(Quoted on a yield basis)
59% 8/14/43 .84% 10/29/43
44% 9/20/43 .85% 12/26/43
62% 9/20/43 .82% 1/25/44
67% 6/26/43 .82% 5/14/44
67% 7/6/43 .82% 5/14/44
(Quoted on a yield basis)
35% 8/14 .78% 1/24
44% 9/20 .83% 1/12
62% 9/20 .82% 1/24
67% 6/26 .82% 5/12
67% 7/6 .82% 5/12
Guaranteed by U. S. Government 8/
<table><tr><td>$412</td><td>Commodity Credit Corp. 1-1/8% 2/15/45</td><td>100.04</td><td>100.06</td><td>100.05</td><td>-.03</td><td>1.01%</td><td>+.06%</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>100.11</td><td>7/8</td><td>99.26</td><td>1/2</td></tr><tr><td>571</td><td>Reconstruction Finance Corporation 3% 4/15/44</td><td>100.02</td><td>100.03</td><td>100.02</td><td>-.02</td><td>.88</td><td>+.08</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>7/1</td><td>100.02</td><td>9/30</td></tr></table>
PART B - TAXABLE TREASURY BILLS
<table><tr><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Discount</th><th rowspan="2">Amount out-standing (Millions)</th><th rowspan="2">Maturity date</th><th rowspan="2">Issue date</th><th colspan="4">Discount</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from August 31, 1943</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from August 31, 1943</th></tr><tr><td>-</td><td>9/30/43</td><td>6/30/43</td><td>.37</td><td>.25</td><td>.31</td><td>- .03</td><td>$1.005</td><td>11/18/43</td><td>8/19/43</td><td>.37</td><td>.30</td><td>.34</td><td>- .02</td></tr><tr><td>$1.003</td><td>10/7/43</td><td>7/7/43</td><td>.37</td><td>.25</td><td>.31</td><td>- .03</td><td>1.002</td><td>11/26/43</td><td>8/26/43</td><td>.37</td><td>.30</td><td>.34</td><td>- .02</td></tr><tr><td>1.001</td><td>10/14/43</td><td>7/14/43</td><td>.37</td><td>.25</td><td>.31</td><td>- .03</td><td>1.002</td><td>12/2/43</td><td>9/2/43</td><td>.37</td><td>.35</td><td>.36</td><td>.00</td></tr><tr><td>1.004</td><td>10/21/43</td><td>7/21/43</td><td>.37</td><td>.25</td><td>.31</td><td>- .03</td><td>1.005</td><td>12/9/43</td><td>9/9/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>1.003</td><td>10/28/43</td><td>7/28/43</td><td>.37</td><td>.25</td><td>.31</td><td>- .03</td><td>1.009</td><td>12/16/43</td><td>9/16/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>1.006</td><td>11/4/43</td><td>8/4/43</td><td>.37</td><td>.30</td><td>.34</td><td>- .02</td><td>1.018</td><td>12/23/43</td><td>9/23/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>995</td><td>11/12/43</td><td>8/12/43</td><td>.37</td><td>.30</td><td>.34</td><td>- .02</td><td>1.002</td><td>12/30/43</td><td>9/30/43</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr></table>
(Continued on following page)
63
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
September 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="4">Price data (Price decimals are thirty-seconds)</th><th colspan="2">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (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 Aug. 31, 1943</th><th>Yield 3/</th><th>Change in yield from Aug. 31, 1943</th><th colspan="2">High</th><th colspan="2">Low</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><tr><th colspan="12">Treasury bonds</th></tr><tr><td>$1,401</td><td>3-1/4 10/15/43-45 9/100.10</td><td>100.11</td><td>100.10</td><td>- .04</td><td>6/32</td><td>+5/32</td><td>2.664</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>102.00 1/12</td><td>100.10</td><td>9/30</td></tr><tr><td>1,519</td><td>3-1/4 10/15/44-46 9/101.14</td><td>101.15</td><td>101.14</td><td>- .07</td><td>.574</td><td>.00%</td><td>3.58</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>103.06 1/12</td><td>101.14</td><td>9/30</td></tr><tr><td>1,037</td><td>4 12/15/44-54 103.27</td><td>103.29</td><td>103.28</td><td>- .12</td><td>.76</td><td>+ .08</td><td>1.78</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 1/5</td><td>103.28</td><td>9/30</td></tr><tr><td>1,214</td><td>2-3/4 9/15/45-47 103.21</td><td>103.23</td><td>103.22</td><td>- .09</td><td>.85</td><td>+ .07</td><td>1.78</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 2/13</td><td>103.22</td><td>9/30</td></tr><tr><td>541</td><td>2-1/2 12/15/45 103.20</td><td>103.22</td><td>103.21</td><td>- .08</td><td>.82</td><td>+ .05</td><td>1.74</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 2/17</td><td>103.21</td><td>9/30</td></tr><tr><td>489</td><td>3-3/4 3/15/46-56 106.27</td><td>105.29</td><td>106.28</td><td>- .14</td><td>.91</td><td>+ .08</td><td>3.08</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 2/2</td><td>106.28</td><td>9/30</td></tr><tr><td>1,036</td><td>3 6/15/46-48 105.17</td><td>105.19</td><td>105.18</td><td>- .10</td><td>.91</td><td>+ .05</td><td>1.76</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 1/11</td><td>105.18</td><td>9/30</td></tr><tr><td>819</td><td>3-1/8 6/15/46-49 105.27</td><td>105.29</td><td>105.28</td><td>- .08</td><td>.92</td><td>+ .03</td><td>2.03</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 1/14</td><td>105.28</td><td>9/30</td></tr><tr><td>759</td><td>4-1/4 10/15/47-52 112.18</td><td>112.20</td><td>112.19</td><td>- .13</td><td>1.06</td><td>+ .04</td><td>2.67</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 2/3</td><td>112.19</td><td>9/30</td></tr><tr><td>701</td><td>2 12/15/47 104.05</td><td>104.07</td><td>104.06</td><td>- .03</td><td>.98</td><td>.00</td><td>1.72</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 6/29</td><td>103.30</td><td>4/13</td></tr><tr><td>1,223</td><td>2-3/4 3/15/48-51 107.07</td><td>107.09</td><td>107.08</td><td>.00</td><td>1.08</td><td>- .03</td><td>1.71</td><td>3/26/36</td><td>111.18</td><td>12/12/40</td><td>99.10</td><td>4/1/37</td><td>107.19 7/7</td><td>106.27</td><td>4/14</td></tr><tr><td>451</td><td>2-1/2 9/15/48 106.29</td><td>106.31</td><td>106.30</td><td>- .03</td><td>1.06</td><td>.00</td><td>1.30</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>107.09 7/26</td><td>106.11</td><td>4/12</td></tr><tr><td>571</td><td>2 12/15/48-50 104.25</td><td>104.27</td><td>104.26</td><td>+ .05</td><td>1.05</td><td>- .04</td><td>1.30</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>104.27 7/12</td><td>103.20</td><td>1/2</td></tr><tr><td>491</td><td>3-1/8 12/15/49-52 110.23</td><td>110.25</td><td>110.24</td><td>.00</td><td>1.32</td><td>- .02</td><td>1.85</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>111.14 7/6</td><td>110.06</td><td>3/30</td></tr><tr><td>1,786</td><td>2-1/2 12/15/49-53 107.01</td><td>107.03</td><td>107.02</td><td>+ .10</td><td>1.31</td><td>- .07</td><td>1.74</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>107.14 7/6</td><td>105.30</td><td>1/2</td></tr><tr><td>1,186</td><td>2-1/2 9/15/50-52 107.18</td><td>107.20</td><td>107.19</td><td>+ .09</td><td>1.35</td><td>- .06</td><td>1.59</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>108.02 7/6</td><td>106.09</td><td>1/25</td></tr><tr><td>1,627</td><td>2-3/4 6/15/51-54 109.21</td><td>109.23</td><td>109.22</td><td>+ .04</td><td>1.42</td><td>- .03</td><td>1.75</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>110.07 7/6</td><td>107.30</td><td>1/2</td></tr><tr><td>755</td><td>3 9/15/51-55 111.22</td><td>111.24</td><td>111.23</td><td>+ .05</td><td>1.44</td><td>- .03</td><td>1.90</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>112.07 7/6</td><td>110.01</td><td>1/2</td></tr><tr><td>1,118</td><td>2-1/4 12/15/51-53 106.22</td><td>106.24</td><td>106.23</td><td>+ .06</td><td>1.38</td><td>- .03</td><td>1.54</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>107.00 7/6</td><td>104.20</td><td>1/2</td></tr><tr><td>725</td><td>2 6/15/53-55 105.06</td><td>105.08</td><td>105.07</td><td>.00</td><td>1.42</td><td>- .01</td><td>1.51</td><td>10/7/40</td><td>105.16</td><td>7/6/43</td><td>101.19</td><td>2/15/41</td><td>105.16 7/6</td><td>103.05</td><td>1/2</td></tr><tr><td>681</td><td>2-1/4 6/15/54-56 107.06</td><td>107.08</td><td>107.07</td><td>+ .08</td><td>1.52</td><td>- .03</td><td>1.62</td><td>7/22/40</td><td>107.12</td><td>7/6/43</td><td>102.02</td><td>7/24/40</td><td>107.12 7/6</td><td>104.23</td><td>1/2</td></tr><tr><td>2,611</td><td>2-7/8 3/15/55-60 112.17</td><td>112.19</td><td>112.18</td><td>+ .13</td><td>1.67</td><td>- .04</td><td>1.98</td><td>3/15/35</td><td>112.28</td><td>7/6/43</td><td>98.30</td><td>9/20/35</td><td>112.28 7/6</td><td>109.04</td><td>1/2</td></tr><tr><td>982</td><td>2-3/4 9/15/56-59 112.08</td><td>112.10</td><td>112.09</td><td>+ .10</td><td>1.69</td><td>- .03</td><td>1.86</td><td>9/15/36</td><td>112.13</td><td>7/6/43</td><td>98.10</td><td>4/1/37</td><td>112.13 7/6</td><td>108.12</td><td>1/2</td></tr><tr><td>919</td><td>2-3/4 6/15/58-63 10 112.04</td><td>112.06</td><td>112.05</td><td>+ .10</td><td>1.81</td><td>- .02</td><td>2.00</td><td>6/15/38</td><td>112.13</td><td>7/6/43</td><td>99.15</td><td>9/25/39</td><td>112.13 7/6</td><td>108.13</td><td>3/24</td></tr><tr><td>1,485</td><td>2-3/4 12/15/60-65 10 112.16</td><td>112.18</td><td>112.17</td><td>+ .12</td><td>1.89</td><td>- .03</td><td>2.05</td><td>12/15/38</td><td>112.28</td><td>7/6/13</td><td>99.14</td><td>9/25/39</td><td>112.28 7/6</td><td>108.26</td><td>3/24</td></tr></table>
<table><tr><td>16</td><td>3%</td><td>Other bonds 11/</td><td>1/1/46</td><td>105.16</td><td>105.28</td><td>105.22</td><td>-.04</td><td>.46</td><td>-.03</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>105.22</td><td>9/30</td></tr><tr><td>13</td><td>3</td><td>Conversion</td><td>- 1/1/47</td><td>107.12</td><td>107.28</td><td>107.20</td><td>-.08</td><td>.63</td><td>+.02</td><td>1/1/17</td><td>-</td><td>-</td><td>-</td><td>-</td><td>109.00</td><td>1/11</td><td>107.20</td><td>9/30</td></tr><tr><td>50</td><td>3</td><td>Panama Canal</td><td>- 6/1/61</td><td>130.00</td><td>131.16</td><td>130.24</td><td>+.16</td><td>1.09</td><td>-.08</td><td>6/1/11</td><td>130.24</td><td>9/30/43</td><td>75.00</td><td>6/18/21</td><td>130.24</td><td>9/30</td><td>127.30</td><td>1/11</td></tr><tr><td colspan="19"><b>Treasury notes</b></td></tr><tr><td>421</td><td>1-1/8%</td><td>B-</td><td>12/15/43</td><td>100.04+</td><td>100.05+</td><td>100.05</td><td>-.03</td><td>.36</td><td>+.11</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>100.05</td><td>9/30</td></tr><tr><td>515</td><td>1</td><td>B-</td><td>3/15/44</td><td>100.08</td><td>100.09</td><td>100.08</td><td>-.04</td><td>.45</td><td>+.15</td><td>11/1/39</td><td>102.15</td><td>11/9/40</td><td>100.08</td><td>9/30/43</td><td>100.24</td><td>2/5</td><td>100.08</td><td>9/30</td></tr><tr><td>416</td><td>3/4</td><td>A-</td><td>6/15/44</td><td>100.08</td><td>100.09</td><td>100.08</td><td>-.03</td><td>.39</td><td>+.08</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>100.08</td><td>9/30</td></tr><tr><td>283</td><td>1</td><td>C-</td><td>9/15/44</td><td>100.19</td><td>100.21</td><td>100.20</td><td>-.04</td><td>.34</td><td>+.06</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>7/6</td><td>100.20</td><td>9/30</td></tr><tr><td>718</td><td>3/4</td><td>A-</td><td>3/15/45</td><td>100.16</td><td>100.18</td><td>100.17</td><td>-.04</td><td>.38</td><td>+.06</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>7/15</td><td>100.16</td><td>1/2</td></tr></table>
Quaranteed by U. S. Government 8/
<table><tr><td>$ 95</td><td colspan="2">Federal Farm Mortgage Corp.</td><td>3-1/4%</td><td>3/15/44-64</td><td>101.04</td><td>101.05</td><td>101.04</td><td>-.10</td><td>.77%</td><td>+.20%</td><td>3.17%</td><td>3/15/34</td><td>110.07</td><td>6/8/39</td><td>98.02</td><td>9/18/34</td><td>103.02</td><td>1/5</td><td>101.04</td><td>9/30/34</td></tr><tr><td>835</td><td>3</td><td>5/15/44-49</td><td>101.13+</td><td>101.14+</td><td>101.14</td><td>-.08</td><td>.68</td><td>+.09</td><td>2.72</td><td>5/15/34</td><td>109.22</td><td>6/5/39</td><td>95.03</td><td>9/12/34</td><td>103.04</td><td>1/5</td><td>101.14</td><td>9/30/34</td></tr><tr><td>779</td><td colspan="2">Home Owners' Loan Corp.</td><td>3 1/2</td><td>5/1/44-52</td><td>101.10+</td><td>101.11+</td><td>101.11</td><td>-.07</td><td>.69</td><td>+.05</td><td>2.82</td><td>5/1/34</td><td>109.18</td><td>6/6/39</td><td>95.03</td><td>9/12/34</td><td>103.01</td><td>1/5</td><td>101.11</td><td>9/30/34</td></tr><tr><td>755</td><td>1-1/2</td><td>6/1/45-47</td><td>101.04</td><td>101.05</td><td>101.04</td><td>-.05</td><td>.82</td><td>+.06</td><td>1.19</td><td>6/1/39</td><td>103.26</td><td>12/13/40</td><td>96.24</td><td>9/25/39</td><td>101.26</td><td>7/3</td><td>101.04</td><td>9/30/39</td></tr><tr><td>114</td><td colspan="2">Federal Public Housing Authority</td><td>1-3/8</td><td>2/1/44</td><td>100.07</td><td>100.09</td><td>100.08</td><td>-.03</td><td>.62</td><td>+.07</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>100.08</td><td>9/30/39</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of prices 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 Farm Mortgage Corporation, and Home Owners' Loan Corporation bonds for 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, the latest dates.
3/ Computed on mean price to call date when mean price is above par or to maturity date when mean price is below par.
4/ Not quoted.
5/ Included in average of long-term taxable Treasury bonds shown later in this chapter.
6/ Security is not transferable to commercial banks until ten years after issue date.
7/ Quoted on yield basis since November 12, 1942; prior price quotations have been converted to yields for back figures.
8/ Excludes Federal Housing Administration debentures and issues held entirely by government agencies.
9/ Called on June 7, 1943 for redemption on October 15, 1943.
10/ Included in average of long-term partially tax-exempt Treasury bonds shown later in this chapter.
11/ Excludes postal savings bonds.
64
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
September 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 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>Change in mean from Aug. 31, 1943</th><th>Yield 1/</th><th>Change in yield from Aug. 31, 1943</th><th>Maturity yield</th><th>High Price</th><th>Date</th><th>Low Price</th><th>Date</th><th>High Price</th><th>Date</th><th>Low Price</th><th>Date</th></tr><tr><td>$125</td><td>6 - 7/1/46-46</td><td>102.22</td><td>102.26</td><td>102.24</td><td>-.11</td><td>.294</td><td>+.024</td><td>2.95%</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>102.24</td><td>9/30</td></tr><tr><td>71</td><td>4 - 7/15/44-54</td><td>102.26</td><td>102.30</td><td>102.28</td><td>-.79</td><td>.31</td><td>-.05</td><td>3.80</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>102.28</td><td>9/30/43</td><td>104.28</td><td>1/5</td><td>102.28</td><td>9/30</td></tr><tr><td>157</td><td>3-1/4 - 5/1/45-55</td><td>104.06</td><td>104.12</td><td>104.09</td><td>-.03</td><td>.52</td><td>-.08</td><td>2.81</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>104.09</td><td>9/30</td></tr><tr><td>230</td><td>3 - 7/1/45-55</td><td>104.06</td><td>104.12</td><td>104.09</td><td>-.03</td><td>.53</td><td>-.06</td><td>2.58</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>104.09</td><td>9/30</td></tr><tr><td>171</td><td>3 - 1/1/46-56</td><td>105.14</td><td>105.20</td><td>105.17</td><td>-.04</td><td>.52</td><td>-.03</td><td>2.47</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>105.17</td><td>9/30</td></tr><tr><td>170</td><td>3 - 5/1/46-56</td><td>106.04</td><td>106.10</td><td>106.07</td><td>-.06</td><td>.56</td><td>-.01</td><td>2.42</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>106.07</td><td>9/30</td></tr></table>
PART B - ISSUES QUOTED ON A YIELD BASIS
<table><tr><th>Amount outstanding (Millions)</th><th>Description</th><th>Date of issue</th><th colspan="4">Yield</th></tr><tr><th></th><th></th><th></th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from August 31, 1943</th></tr><tr><td colspan="3">Federal Home Loan Banks 5/3/46 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 colspan="3">Federal Intermediate Credit Banks 5/</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>30</td><td>.80%</td><td>- 10/1/43</td><td>1/2/43</td><td>.50</td><td>-</td><td>.50</td><td>.00</td></tr><tr><td>27</td><td>.85</td><td>- 11/1/43</td><td>2/1/43</td><td>.55</td><td>-</td><td>.55</td><td>.00</td></tr><tr><td>19</td><td>3/4</td><td>- 11/1/43</td><td>5/1/43</td><td>.55</td><td>-</td><td>.55</td><td>.00</td></tr><tr><td>20</td><td>.80</td><td>- 12/1/43</td><td>3/1/43</td><td>.60</td><td>-</td><td>.60</td><td>.00</td></tr><tr><td>22</td><td>3/4</td><td>- 12/1/43</td><td>6/1/43</td><td>.60</td><td>-</td><td>.60</td><td>.00</td></tr><tr><td>20</td><td>.85</td><td>- 1/3/44</td><td>4/1/43</td><td>.65</td><td>-</td><td>.65</td><td>.00</td></tr><tr><td>19</td><td>3/4</td><td>- 1/3/44</td><td>7/1/43</td><td>.65</td><td>-</td><td>.65</td><td>.00</td></tr><tr><td>22</td><td>.85</td><td>- 2/1/44</td><td>5/1/43</td><td>.70</td><td>-</td><td>.70</td><td>.00</td></tr><tr><td>11</td><td>.70</td><td>- 2/1/44</td><td>8/2/43</td><td>.70</td><td>-</td><td>.70</td><td>.00</td></tr><tr><td>26</td><td>.85</td><td>- 3/1/44</td><td>6/1/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>25</td><td>.80</td><td>- 4/1/44</td><td>7/1/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>24</td><td>.80</td><td>- 5/1/44</td><td>8/2/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>15</td><td>.80</td><td>- 6/1/44</td><td>9/1/43</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 columns in thirty-seconds.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market. "When issued" prices are included beginning November 1, 1941. Dates of highs and lows, in case of recurrence, are the latest dates.
3/ Computed on mean price to call date when mean price is above par and to maturity date when mean price is below par.
4/ Excludes issues completely held by Farm Credit Administration agencies.
5/ Taxable issues.
65
YIELDS OF TREASURY SECURITIES SEPT. 30, 1943
Based on Mean of Closing Bid and Asked Quotations
Explanation:
The paints 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 paints 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
66
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent per annua)
<table><tr><th>1</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th></tr></table>
Monthly Series 4/
<table><tr><td></td><td>2.83</td><td>-</td><td>3.60</td><td>1938-Jan.</td><td>2.65</td><td>-</td><td>3.17</td><td>1941-Jan.</td><td>1.99</td><td>-</td><td>2.57</td></tr><tr><td></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></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></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></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></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>2.75</td></tr><tr><td></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></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></td><td>2.55</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>1939</td><td>2.85</td><td>-</td><td>3.46</td><td>Oct.</td><td>2.43</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></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></td><td>2.53</td><td>-</td><td>3.39</td><td>Dec.</td><td>2.40</td><td>-</td><td>3.02</td><td>Dec.</td><td>1.96</td><td>2.77</td><td>2.68</td></tr><tr><td>1940</td><td>2.80</td><td>-</td><td>3.32</td><td>1939-Jan.</td><td>2.47</td><td>-</td><td>2.06</td><td>1940-Jan.</td><td>2.01</td><td>2.77</td><td>2.76</td></tr><tr><td></td><td>2.77</td><td>-</td><td>3.26</td><td>Feb.</td><td>2.44</td><td>-</td><td>2.00</td><td>Feb.</td><td>2.09</td><td>2.79</td><td>2.80</td></tr><tr><td></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>1941</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>2.95</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>2.74</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>2.74</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>2.89</td><td>Sept.</td><td>2.03</td><td>2.74</td><td>2.73</td></tr><tr><td>Oct.</td><td>2.52</td><td>-</td><td>3.14</td><td>Oct.</td><td>2.66</td><td>-</td><td>3.14</td><td>Oct.</td><td>2.05</td><td>2.73</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>2.74</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>1942</td><td>2.47</td><td>-</td><td>3.09</td><td>1940-Jan.</td><td>2.30</td><td>-</td><td>3.1</td><td>1941-Jun.</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>2.3</td><td>-</td><td>2.95</td><td>July.</td><td>1.82</td><td>2.27</td><td>2.58</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>Aug.</td><td>1.83</td><td>2.28</td><td>2.57</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>Sept.</td><td>1.30</td><td>2.30</td><td>2.59</td></tr><tr><td>Oct.</td><td>2.76</td><td>-</td><td>3.26</td><td>Oct.</td><td>2.10</td><td>-</td><td>2.70</td><td></td><td></td><td></td><td></td></tr><tr><td>Nov.</td><td>2.71</td><td>-</td><td>3.22</td><td>Nov.</td><td>1.97</td><td>-</td><td>2.65</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.67</td><td>-</td><td>3.17</td><td>Dec.</td><td>1.89</td><td>-</td><td>2.59</td><td></td><td></td><td></td><td></td></tr></table>
Weekly Series - Saturday Figures 5/
<table><tr><td>1943-June</td><td>2.05</td><td>2.32</td><td>2.59</td><td>5</td><td>1.75</td><td>2.29</td><td>2.65</td><td>7</td><td>1.84</td><td>2.28</td><td>2.55</td></tr><tr><td></td><td>2.05</td><td>2.32</td><td>2.59</td><td>12</td><td>1</td><td>2.37</td><td>2.63</td><td>14</td><td>1.83</td><td>2.28</td><td>2.57</td></tr><tr><td></td><td>2.00</td><td>2.32</td><td>2.68</td><td>19</td><td>1</td><td>8</td><td>2</td><td>17</td><td>1.83</td><td>2.28</td><td>2.59</td></tr><tr><td></td><td>1.95</td><td>2.31</td><td>2.68</td><td>26</td><td>1</td><td>2.28</td><td>2.61</td><td>28</td><td>1.82</td><td>2.28</td><td>2.58</td></tr><tr><td>July</td><td>1.98</td><td>2.31</td><td>2.67</td><td>3</td><td>2</td><td>2.26</td><td>2.61</td><td>Sept. 4</td><td>1.82</td><td>2.30</td><td>2.57</td></tr><tr><td></td><td>1.93</td><td>2.30</td><td>2.67</td><td>10</td><td>1.80</td><td>2.26</td><td>2.57</td><td>11</td><td>1.80</td><td>2.30</td><td>2.58</td></tr><tr><td>15</td><td>1.91</td><td>2.30</td><td>2.64</td><td>17</td><td>1.82</td><td>2.27</td><td>2.57</td><td>18</td><td>1.80</td><td>2.30</td><td>2.61</td></tr><tr><td>22</td><td>1.90</td><td>2.29</td><td>2.65</td><td>24</td><td>1.82</td><td>2.27</td><td>2.56</td><td>25</td><td>1.80</td><td>2.30</td><td>2.60</td></tr><tr><td>29</td><td>1.87</td><td>2.29</td><td>2.65</td><td>31</td><td>1.84</td><td>2.28</td><td>2.57</td><td></td><td></td><td></td><td></td></tr></table>
Daily Series
<table><tr><td>1</td><td>1.82</td><td>2.29</td><td>2.57</td><td>1943-Sept.13</td><td>1.80</td><td>2.30</td><td>2.57</td><td>1943-Sept.24</td><td>1.80</td><td>2.30</td><td>2.59</td></tr><tr><td>2</td><td>1.82</td><td>2.30</td><td>2.57</td><td>14</td><td>1.80</td><td>2.30</td><td>2.57</td><td>25</td><td>1.80</td><td>2.30</td><td>2.60</td></tr><tr><td>3</td><td>1.82</td><td>2.30</td><td>2.57</td><td>15</td><td>1.80</td><td>2.30</td><td>2.59</td><td></td><td></td><td></td><td></td></tr><tr><td>4</td><td>1.82</td><td>2.30</td><td>2.57</td><td>16</td><td>1.80</td><td>2.30</td><td>2.59</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td>17</td><td>1.80</td><td>2.30</td><td>2.59</td><td>27</td><td>1.80</td><td>2.30</td><td>2.60</td></tr><tr><td>5</td><td>6/</td><td>6/</td><td>6/</td><td>18</td><td>1.80</td><td>2.30</td><td>2.61</td><td>28</td><td>1.80</td><td>2.30</td><td>2.61</td></tr><tr><td>7</td><td>1.32</td><td>2.30</td><td>2.58</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>8</td><td>1.81</td><td>2.30</td><td>2.58</td><td>20</td><td>1.80</td><td>2.30</td><td>o0</td><td>29</td><td>1.80</td><td>2.30</td><td>2.62</td></tr><tr><td>9</td><td>1.81</td><td>2.30</td><td>2.58</td><td>21</td><td>1.80</td><td>2.30</td><td>2.60</td><td>30</td><td>1.80</td><td>2.30</td><td>2.62</td></tr><tr><td>10</td><td>1.80</td><td>2.30</td><td>2.58</td><td>22</td><td>1.80</td><td>2.30</td><td>2.61</td><td></td><td></td><td></td><td></td></tr><tr><td>11</td><td>1.80</td><td>2.30</td><td>2.58</td><td>23</td><td>1.30</td><td>2.30</td><td>2.61</td><td></td><td></td><td></td><td></td></tr></table>
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 in 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. See "Treasury Bulletin" for July 1941, pages 21-25, 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
2) Average of taxable Treasury bonds neither due nor callable for twelve years. B-4, 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, 1933, corporate bonds are averaged as Saturday figures.
5) Closing when the exchanges are closed, the date and prices of the previous day are used
6) Holler
Average Yields of Long-term Treasury and Corporate Bonds Monthly Series 1
Monthly overage of daily yields.
67
GOVERNMENT CORPORATIONS AND CREDIT
AGENCIES OF THE UNITED STATES
-68-
69
Assets and Liabilities of Government Corporations and Credit Agencies
August 31, 1943
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th colspan="9">Assets</th></tr><tr><th>Total</th><th>Loans</th><th>Preferred capital stock, etc.</th><th>Cash 1/</th><th>U. S. Government securities</th><th>Securities guaranteed by United States</th><th>Other</th><th>Accounts and other receivables 2/</th><th>Real estate and other business property</th><th>Due from Government corporations and agencies</th><th>Capital stock and paid-in surplus of Government corporations</th><th>Other assets</th></tr><tr><td>Banks for cooperatives</td><td>233.0</td><td>111.2</td><td>-</td><td>35.6</td><td>33.6</td><td>.2</td><td>50.4</td><td>2.8</td><td>.1</td><td>*</td><td>-</td><td>.1</td></tr><tr><td>Commodity Credit Corporation</td><td>1,659.0</td><td>225.3</td><td>-</td><td>8.3</td><td>-</td><td>-</td><td>-</td><td>176.5</td><td>27.0</td><td>1.6</td><td>-</td><td>1,221.83</td></tr><tr><td>Disaster Loan Corporation</td><td>21.0</td><td>3.1</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>16.2</td><td>*</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Export-Import Bank of Washington</td><td>191.6</td><td>135.6</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>55.6</td><td>*</td><td>-</td><td>172.0</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>424.7</td><td>241.8</td><td>-</td><td>7.4</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>.8</td><td>20.2</td><td>-</td><td>2.5</td></tr><tr><td>Farm Security Administration</td><td>498.5</td><td>441.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>35.5</td><td>-</td><td>-</td><td>-</td><td>.5</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>26.0</td><td>-</td><td>-</td><td>11.5</td><td>-</td><td>-</td><td>-</td><td>3.4</td><td>-</td><td>-</td><td>-</td><td>11.1</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>725.9</td><td>33.1</td><td>-</td><td>16.3</td><td>628.7</td><td>-</td><td>-</td><td>30.3</td><td>.1</td><td>.5</td><td>-</td><td>17.9</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,148.0</td><td>447.1</td><td>-</td><td>10.3</td><td>-</td><td>140.0</td><td>493.8</td><td>46.3</td><td>-</td><td>2.4</td><td>-</td><td>8.2</td></tr><tr><td>Federal home loan banks</td><td>264.7</td><td>81.4</td><td>-</td><td>25.7</td><td>155.5</td><td>.7</td><td>*</td><td>1.3</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Federal Housing Administration</td><td>121.8</td><td>-</td><td>-</td><td>19.0</td><td>55.6</td><td>-</td><td>-</td><td>41.9</td><td>1.2</td><td>.5</td><td>-</td><td>3.5</td></tr><tr><td>Federal intermediate credit banks</td><td>388.8</td><td>283.7</td><td>-</td><td>39.8</td><td>36.0</td><td>-</td><td>-</td><td>2.2</td><td>-</td><td>26.8</td><td>-</td><td>.2</td></tr><tr><td>Federal land banks 4/</td><td>2,034.4</td><td>1,452.5</td><td>-</td><td>37.5</td><td>208.6</td><td>149.0</td><td>*</td><td>147.2</td><td>5.2</td><td>4.0</td><td>-</td><td>30.3</td></tr><tr><td>Federal National Mortgage Association</td><td>71.9</td><td>69.0</td><td>-</td><td>-</td><td>-</td><td>.8</td><td>-</td><td>1.7</td><td>*</td><td>-</td><td>-</td><td>.2</td></tr><tr><td>Federal Pricen Industries, Inc.</td><td>17.6</td><td>-</td><td>-</td><td>6.9</td><td>-</td><td>-</td><td>-</td><td>2.3</td><td>6.5</td><td>-</td><td>-</td><td>1.9</td></tr><tr><td>Federal Public Housing Authority</td><td>550.0</td><td>316.9</td><td>-</td><td>44.0</td><td>7.2</td><td>-</td><td>*</td><td>4.5</td><td>177.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>144.1</td><td>-</td><td>-</td><td>.5</td><td>137.1</td><td>1.2</td><td>-</td><td>5.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 5/</td><td>3.0</td><td>2.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,807.5</td><td>1,399.9</td><td>63.7</td><td>57.4</td><td>10.0</td><td>-</td><td>-</td><td>4.0</td><td>2.6</td><td>-</td><td>100.0</td><td>170.1</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>24.6</td><td>.4</td><td>-</td><td>1.0</td><td>5.9</td><td>-</td><td>-</td><td>.7</td><td>16.4</td><td>-</td><td>-</td><td>*</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.7</td><td>2.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama Railroad Company 5/</td><td>76.9</td><td>-</td><td>-</td><td>11.8</td><td>8.9</td><td>-</td><td>*</td><td>.6</td><td>51.0</td><td>4.5</td><td>-</td><td>.1</td></tr><tr><td>Production credit corporations</td><td>127.6</td><td>-</td><td>-</td><td>1.3</td><td>44.1</td><td>-</td><td>81.9</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Public Works 6/</td><td>87.3</td><td>87.3</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>22.4</td><td>6.0</td><td>1.2</td><td>2.2</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>*</td><td>-</td><td>12.7</td></tr><tr><td>Reconstruction Finance Corporation 7/</td><td>8,262.5</td><td>1,462.7</td><td>346.3</td><td>1.6</td><td>67.4</td><td>-</td><td>8.3</td><td>25.9</td><td>8/</td><td>1.0</td><td>5,935.5</td><td>53.1</td></tr><tr><td>Regional agricultural credit corporations</td><td>64.0</td><td>55.2</td><td>-</td><td>8.5</td><td>-</td><td>-</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>360.7</td><td>.2</td></tr><tr><td>RFC Mortgage Company, The</td><td>113.6</td><td>99.7</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>4.5</td></tr><tr><td>Rural Electrification Administration</td><td>356.8</td><td>344.5</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.8</td><td>-</td><td>3.6</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>665.7</td><td>-</td><td>-</td><td>5.8</td><td>.2</td><td>-</td><td>-</td><td>6.9</td><td>650.7</td><td>2.1</td><td>-</td><td>.2</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>.3</td><td>.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>United States Maritime Commission</td><td>5,230.0</td><td>18.4</td><td>-</td><td>*</td><td>-</td><td>-</td><td>72.9</td><td>37.4</td><td>22.6</td><td>12.7</td><td>-</td><td>5,066.0</td></tr><tr><td>War corporations and activities (World War I) 2/</td><td>5.2</td><td>-</td><td>-</td><td>.6</td><td>.1</td><td>-</td><td>-</td><td>3.9</td><td>*</td><td>-</td><td>-</td><td>.6</td></tr><tr><td>War corporations (World War II) 10/</td><td>7,299.5</td><td>231.2</td><td>1.1</td><td>185.7</td><td>-</td><td>-</td><td>1.0</td><td>704.1</td><td>88.9</td><td>114.5</td><td>-</td><td>5,913.0</td></tr><tr><td>War Shipping Administration</td><td>998.1</td><td>-</td><td>-</td><td>*</td><td>-</td><td>-</td><td>-</td><td>21.4</td><td>907.1</td><td>40.5</td><td>-</td><td>29.1</td></tr><tr><td>Other Government agencies 11/</td><td>7,304.9</td><td>26.7</td><td>6.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>7,243.7</td><td>-</td><td>27.6</td></tr><tr><td>Gross total</td><td>40,974.7</td><td>7,579.8</td><td>419.3</td><td>539.1</td><td>1,398.8</td><td>292.4</td><td>708.3</td><td>1,449.9</td><td>1,965.6</td><td>13,413.0</td><td>632.7</td><td>12,575.9</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-14,045.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-13,413.0</td><td>-632.7</td><td>-</td></tr><tr><td>Net total</td><td>26,928.9</td><td>7,579.8</td><td>419.3</td><td>539.1</td><td>1,398.8</td><td>292.4</td><td>708.3</td><td>1,443.9</td><td>1,965.6</td><td>0</td><td>0</td><td>12,575.9</td></tr></table>
(Continued on following page)
70
Assets and Liabilities of Government Corporations and Credit Agencies
August 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>28.6</td><td>-</td><td>1.4</td><td>-</td><td>26.8</td><td>1.4</td><td>204.4</td><td>6.2</td><td>198.1</td><td>172.0</td><td>26.1</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,566.4</td><td>588.6</td><td>263.4</td><td>701.2</td><td>13.2</td><td>92.7</td><td>20.8</td><td>92.7</td><td>100.0</td><td>-7.3</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>1</td><td>1</td><td>1</td><td>-</td><td>-</td><td>20.8</td><td>-</td><td>20.8</td><td>24.0</td><td>-3.2</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1.2</td><td>-</td><td>1.2</td><td>-</td><td>1.1</td><td>-</td><td>190.4</td><td>-</td><td>190.4</td><td>175.0</td><td>15.4</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>213.5</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>213.3</td><td>211.2</td><td>-</td><td>211.2</td><td>-</td><td>-</td><td>211.2</td></tr><tr><td>Farm Security Administration</td><td>194.4</td><td>-</td><td>21.2</td><td>-</td><td>173.2</td><td>-</td><td>304.1</td><td>-</td><td>304.1</td><td>-</td><td>-</td><td>304.1</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>10.1</td><td>-</td><td>10.1</td><td>-</td><td>-</td><td>15.9</td><td>-</td><td>15.9</td><td>140.0</td><td>-24.1</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>437.6</td><td>-</td><td>27.1</td><td>-</td><td>410.5</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>1,047.6</td><td>941.2</td><td>7.7</td><td>-</td><td>.8</td><td>97.9</td><td>100.4</td><td>100.4</td><td>100.0</td><td>.4</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>67.6</td><td>-</td><td>67.6</td><td>-</td><td>-</td><td>197.1</td><td>72.3</td><td>124.7</td><td>124.7</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>25.2</td><td>21.9</td><td>3.2</td><td>-</td><td>-</td><td>96.5</td><td>-</td><td>96.5</td><td>-</td><td>-</td><td>96.5</td></tr><tr><td>Federal intermediate credit banks</td><td>299.8</td><td>-</td><td>299.7</td><td>-</td><td>1.2</td><td>89.1</td><td>-</td><td>89.1</td><td>60.0</td><td>29.1</td><td>-</td></tr><tr><td>Federal land banks 4/</td><td>1,549.1</td><td>-</td><td>1,475.2</td><td>-</td><td>1.2</td><td>72.6</td><td>485.3</td><td>222.3</td><td>263.1</td><td>121.3</td><td>14.8</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>48.7</td><td>-</td><td>2.4</td><td>-</td><td>46.2</td><td>23.2</td><td>-</td><td>23.2</td><td>10.0</td><td>13.2</td><td>-</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>6</td><td>-</td><td>6</td><td>-</td><td>-</td><td>17.0</td><td>-</td><td>17.0</td><td>-</td><td>12.4</td><td>4.6</td></tr><tr><td>Federal Public Housing Authority</td><td>408.0</td><td>114.8</td><td>2.2</td><td>283.0</td><td>1.1</td><td>9.9</td><td>142.0</td><td>-</td><td>142.0</td><td>1.0</td><td>140.0</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1.9</td><td>-</td><td>1.9</td><td>-</td><td>-</td><td>142.2</td><td>-</td><td>142.2</td><td>10.0</td><td>42.2</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>3.0</td><td>-</td><td>3.0</td><td>-</td><td>-</td><td>3.0</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,726.4</td><td>1,550.5</td><td>31.3</td><td>95.2</td><td>49.4</td><td>81.1</td><td>-</td><td>81.1</td><td>72.0</td><td>118.9</td><td>-</td></tr><tr><td>Inland Waterways Corporation 5/</td><td>1.3</td><td>-</td><td>.9</td><td>-</td><td>1.3</td><td>23.3</td><td>-</td><td>23.3</td><td>12.0</td><td>11.3</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>2.7</td><td>-</td><td>-</td><td>2.7</td></tr><tr><td>Panama Railroad Company 5/</td><td>19.1</td><td>-</td><td>14.7</td><td>-</td><td>4.0</td><td>57.7</td><td>-</td><td>57.7</td><td>7.0</td><td>50.7</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.6</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>127.2</td><td>-</td><td>127.2</td><td>120.0</td><td>7.2</td><td>-</td></tr><tr><td>Public Works 5/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>87.3</td><td>-</td><td>87.3</td><td>-</td><td>-</td><td>87.3</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>7.560.8</td><td>853.8 8/</td><td>528.7 8/</td><td>6,029.5</td><td>23.8</td><td>125.0</td><td>701.8</td><td>-</td><td>701.8</td><td>325.0</td><td>376.8</td></tr><tr><td>Reconstruction Finance Corporation 1/</td><td>1.3</td><td>-</td><td>1.0</td><td>-</td><td>-</td><td>62.7</td><td>-</td><td>62.7</td><td>44.5</td><td>18.2</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>86.6</td><td>-</td><td>4.0</td><td>-</td><td>82.5</td><td>27.0</td><td>-</td><td>27.0</td><td>25.0</td><td>2.0</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>226.8</td><td>-</td><td>4.0</td><td>-</td><td>226.8</td><td>130.1</td><td>-</td><td>130.1</td><td>-</td><td>-</td><td>130.1</td></tr><tr><td>Rural Electrification Administration</td><td>80.6</td><td>-</td><td>18.3</td><td>56.8</td><td>1.2</td><td>4.4</td><td>585.1</td><td>-</td><td>585.1</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>1,294.7</td><td>-</td><td>1,271.2</td><td>-</td><td>.3</td><td>23.3</td><td>3,935.3</td><td>-</td><td>3,935.3</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Associated Cooperatives, Inc.</td><td>1.3</td><td>-</td><td>1.2</td><td>-</td><td>.1</td><td>4.9</td><td>-</td><td>4.9</td><td>25.4</td><td>-24.0</td><td>3.4</td></tr><tr><td>United States Maritime Commission</td><td>7,388.8</td><td>-</td><td>1,868.2</td><td>-</td><td>5,520.5</td><td>367.4</td><td>-89.3</td><td>-89.3</td><td>186.8</td><td>-294.9</td><td>18.8</td></tr><tr><td>War corporations and activities (World War I) 2/</td><td>766.0</td><td>-</td><td>398.5</td><td>-</td><td>1.1</td><td>367.4</td><td>232.1</td><td>-</td><td>232.1</td><td>-</td><td>232.1</td></tr><tr><td>War corporations (World War II) 10/</td><td>142.2</td><td>-</td><td>-</td><td>142.2</td><td>-</td><td>7,162.7</td><td>-</td><td>7,162.7</td><td>6.2</td><td>-</td><td>7,156.5</td></tr><tr><td>War Shipping Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Other Government agencies 11/</td><td>25,195.9</td><td>4,070.8</td><td>6,318.2</td><td>7,165.6</td><td>6,247.4</td><td>1,393.9</td><td>15,178.8</td><td>440.1</td><td>15,338.7</td><td>1,130.7</td><td>415.8</td><td>1,792.2</td></tr><tr><td>Gross total</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-13,413.0</td><td>0</td><td>-7,165.6</td><td>6,247.4</td><td>-</td><td>-632.7</td><td>-</td><td>-632.7</td><td>-632.7</td><td>-1.0</td><td>-</td></tr><tr><td>Net total</td><td>11,782.9</td><td>4,070.8</td><td>6,318.2</td><td>0</td><td>0</td><td>1,393.9</td><td>15,146.1</td><td>440.1</td><td>14,705.9</td><td>1,489.9</td><td>414.8</td><td>12,792.2</td></tr></table>
Source: Daily Treasury Statement.
1/ Less than $50,000.
2/ Excludes unexpended balances of appropriated funds. 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 July 31, 1947, the latest available.
6/ Consists of loans made by Public Works Administration for $84,644,371 and by War Public Works - Community Facilities for $2,641,795.
1/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942.
8/ Adjusted for interagency items and items in transit.
9/ Comprises Navy Department (sale of surplus supplies), U. S. Housing Corporation, U. S. Railroad Administration and U. S. Spruce Production Corporation.
10/ Comprises Cargoes, Inc., Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation.
11/ Comprises Treasury Department and other Government agencies not listed in this statement.
12/ Excludes the interest of the United States represented by obligations held by the Treasury.
71
Sources of Funds of Certain Government Corporations and Credit Agencies for the First Two Months, Fiscal Year 1944
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, re-discounts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net)</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 1,287,472</td><td>-</td><td>-</td><td>$297,600</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>$-1,250,000,000</td><td>$ -5,857,544</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>-177</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></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>53,255,558</td><td>-</td><td>-55,245,000</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>$2,187,234</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-</td><td>-</td><td>-101,000,000</td><td>-</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-</td><td>-</td><td>1,151,234,000</td><td>-324,385,200</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>1,883,202</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>1,550,317</td><td>-6,074,349</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 3/</td><td>4,000,000</td><td>670,765,554</td><td>-</td><td>-</td><td>100,000</td></tr><tr><td>Total</td><td>$7,737,551</td><td>$721,117,260</td><td>$ -199,766,000</td><td>$-385,487,744</td><td>$397,600</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 16,705,855</td><td>$ 160,284</td><td>$ 17,475</td><td>$ 18,468,686</td></tr><tr><td>Commodity Credit Corporation</td><td>$450,907,123</td><td>7,831,205</td><td>2,236,335</td><td>10,507,251</td><td>-784,375,630</td></tr><tr><td>Disaster loan Corporation</td><td>4,882</td><td>516,804</td><td>18,370</td><td>17,671</td><td>557,727</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>2,850,106</td><td>5,345,707</td><td>-</td><td>8,195,813</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>3,692,737</td><td>38,381,642</td><td>3,999,957</td><td>46,074,159</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,678,753</td><td>19,629,516</td><td>5,645,650</td><td>418,535</td><td>27,372,454</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>31,147,869</td><td>190,768</td><td>4,152,830</td><td>35,491,467</td></tr><tr><td>Federal National Mortgage Association</td><td>19,348</td><td>96,151,522</td><td>4,432,633</td><td>-97,471,159</td><td>1,142,901</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>436,646</td><td>2,082,238</td><td>14,996</td><td>4,721,113</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>661,696</td><td>9,811</td><td>671,507</td></tr><tr><td>Rose Owners' Loan Corporation</td><td>14,505,248</td><td>41,980,090</td><td>14,402,740</td><td>1,701,777</td><td>-28,410,144</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>952,500</td><td>82,650,336</td><td>32,825,524</td><td>91,117</td><td>943,368,277</td></tr><tr><td>RFC Mortgage Company, The</td><td>39,671</td><td>4,763,661</td><td>744,040</td><td>1,081,572</td><td>8,512,147</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>1,827,155</td><td>1,737,499</td><td>-</td><td>-959,378</td></tr><tr><td>War corporations 3/</td><td>255,765,338</td><td>10,745,736</td><td>2,031,643</td><td>211,023,396</td><td>1,154,431,667</td></tr><tr><td>Total</td><td>$723,872,863</td><td>$320,929,238</td><td>$110,896,769</td><td>$135,565,229</td><td>$1,435,262,766</td></tr></table>
Source: Reports received from the corporations and agencies.
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Includes the Electric Home and Farm Authority, which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942.
3/ Comprises Cargoes, Incorporated, Defense Homes Corporation,
Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Navigation Corporation, Metale Reserve Company, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plante Corporation, U. S. Commercial Company and War Damage Corporation. Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".
72
Uses of Funds of Certain Government Corporations and Credit Agencies for the First Two Months, Fiscal Year 1944
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 4,328</td><td>-</td><td>-</td><td>$ 24,952,550</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>859,718</td><td>-</td><td>$ 599,312,008</td><td>53,738,192</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>56,937</td><td>$ 7,076</td><td>-</td><td>145,210</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>41,492</td><td>-</td><td>-</td><td>10,840,126</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>649,166</td><td>-</td><td>-</td><td>497,129</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,154,064</td><td>55,831</td><td>352,003</td><td>4,223,603</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>295,559</td><td>-</td><td>-</td><td>22,322,603</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>130,845</td><td>136,701</td><td>-</td><td>98,815</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>1,117,779</td><td>333,999</td><td>2,827,384</td><td>508,207</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>31,185</td><td>4,391</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,638,248</td><td>2,562,658</td><td>353,475</td><td>532,293</td><td>$700,500</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>1,582,545</td><td>411,090</td><td>-1,325</td><td>56,947,522</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>76,341</td><td>98,796</td><td>-15,171</td><td>7,183,821</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>443,892</td><td>-</td><td>-</td><td>1,798,178</td><td>-</td></tr><tr><td>War corporations 3/</td><td>934,067</td><td>4,066,911</td><td>820,128,288</td><td>44,063,943</td><td>-</td></tr><tr><td>Total</td><td>$9,077,466</td><td>$6,841,121</td><td>$1,422,956,662</td><td>$227,657,193</td><td>$700,500</td></tr></table>
<table><tr><th>Corporation or Agency</th><th>Investments (net)</th><th>Allocations, re-discounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 848,193</td><td>-</td><td>$ 62,782</td><td>-</td><td>$ 25,817,852</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$137,530,786</td><td>2,068,610</td><td>$ 1,995,120</td><td>460,442,852</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>361,342</td><td>-</td><td>1,314</td><td>557,727</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-12,300,000</td><td>10,812,849</td><td>-</td><td>9,394,467</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>56,983,733</td><td>-</td><td>-</td><td>-835,720</td><td>57,294,309</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>16,000,000</td><td>-</td><td>28,517</td><td>484,437</td><td>22,298,453</td></tr><tr><td>Federal home loan banks</td><td>1,266,904</td><td>-</td><td>666,664</td><td>9,915</td><td>24,561,645</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>728,634</td><td>-12,095</td><td>1,142,901</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>789,224</td><td>2,187,234</td><td>7,763,827</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1,000,000</td><td>-</td><td>-</td><td>81,8524/</td><td>1,117,738</td></tr><tr><td>Home Owners' Loan Corporation</td><td>44,743,435</td><td>-</td><td>467,987</td><td>1,175,204</td><td>-37,319,071</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-</td><td>858,036,845</td><td>26,846,582</td><td>103,623</td><td>943,106,702</td></tr><tr><td>RPC Mortgage Company, The</td><td>-</td><td>-</td><td>1,041,292</td><td>122,067</td><td>8,512,147</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>3,331,501</td><td>-</td><td>5,574,571</td></tr><tr><td>War corporations 1/</td><td>-</td><td>89,023,401</td><td>335,539</td><td>196,454,756</td><td>1,155,006,906</td></tr><tr><td>Total</td><td>$ 31,349,395</td><td>$ 737,592,802</td><td>$47,180,181</td><td>$201,767,717</td><td>$2,685,333,038</td></tr></table>
Source: Reports received from the corporations and agencies. Data on baile of checks issued. 1/ Receipts from the repayment of mortgage loans appear under "Re-payment of loans" in the statement of sources of funds. 2/ Includes the Electric Hose and Yarn Authority, which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942. 1/ Josephson Sargood, Incorporated, Defense Hoses Corporation,
Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Navigation Corporation, Metals Reserve Company, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation. Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
73
Sources of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through August 31, 1943
<table><tr><th>Corporation or agency</th><th>appropriations from general fund of the Treasury 1/</th><th>Allocations, re-discounts, and loans from other government corporations and credit agencies (net)</th><th>Sale of obligations to Treasury (net)</th><th>Sale of obligations in the market (net) 2/</th><th>Sale of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 72,000,000</td><td>$ 18,843,157</td><td>-</td><td>-</td><td>$ 1,576,200</td></tr><tr><td>Commodity Credit Corporation</td><td>243,950,524 3/</td><td>-</td><td>$ 700,000,000</td><td>$ 469,661,000</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>4,000,000</td><td>-</td><td>-</td><td>174,000,000</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>150,000,000</td><td>199,707</td><td>-</td><td>-</td><td>139,299,557</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>100,000,000 4/</td><td>-</td><td>-</td><td>929,764,200</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>-</td><td>-</td><td>35,000,000</td><td>124,741,0005/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>44,550,573</td><td>-</td><td>303,000</td><td>11,000,000</td></tr><tr><td>Federal Public Housing Authority</td><td>63,581,945</td><td>-</td><td>283,000,000</td><td>114,157,000</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>-</td><td>-</td><td>100,000,000</td></tr><tr><td>Home Owners' Loan Corporation</td><td>200,000,000 4/</td><td>-</td><td>95,000,000</td><td>3,114,453,550</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>325,000,000</td><td>-</td><td>6,299,606,124</td><td>571,655,800</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>80,133,641</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>141,507,535</td><td>225,475,833</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 7/</td><td>154,000,000</td><td>5,494,837,302</td><td>-</td><td>-</td><td>36,701,000</td></tr><tr><td>Total</td><td>$1,475,040,004</td><td>$5,858,040,213</td><td>$7,377,606,124</td><td>$5,234,994,550</td><td>$612,317,757</td></tr><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans 8/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 432,028,002</td><td>$ 12,692,788</td><td>$ 4,702,289</td><td>$ 541,842,437</td></tr><tr><td>Commodity Credit Corporation</td><td>$4,307,791,115</td><td>1,168,574,380</td><td>44,164,852</td><td>91,840,843</td><td>7,025,982,714</td></tr><tr><td>Disaster Loan Corporation</td><td>177,242</td><td>25,274,941</td><td>934,923</td><td>77,921</td><td>50,465,026</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>138,725,470</td><td>28,299,650</td><td>707,119</td><td>346,732,239</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>134,162,982</td><td>481,495,866</td><td>4,724,892</td><td>909,883,003</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>33,825,401</td><td>559,108,308</td><td>563,160,158</td><td>24,710,360</td><td>2,210,568,427</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>966,236,507</td><td>52,269,820</td><td>91,609,366 2/</td><td>1,269,856,693</td></tr><tr><td>Federal National Mortgage Association</td><td>2,072,169</td><td>199,274,462</td><td>44,968,462</td><td>2,064,082</td><td>304,232,748</td></tr><tr><td>Federal Public Housing Authority</td><td>974,105</td><td>855,909,449</td><td>54,512,702</td><td>1,604,522</td><td>1,373,739,722</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>51,900,091</td><td>2,318,612</td><td>154,218,703</td></tr><tr><td>Home Owners' Loan Corporation</td><td>262,207,403</td><td>1,422,549,673</td><td>1,097,003,312</td><td>34,812,581</td><td>6,226,026,519</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>34,381,705</td><td>6,181,419,787</td><td>811,293,870</td><td>128,206,713</td><td>14,351,563,998</td></tr><tr><td>RFC Mortgage Company, The</td><td>1,168,163</td><td>167,668,920</td><td>20,196,990</td><td>6,576,905</td><td>300,744,620</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>26,500,595</td><td>26,245,304</td><td>283</td><td>419,729,550</td></tr><tr><td>War corporations 7/</td><td>1,532,209,793</td><td>125,776,557</td><td>14,585,286</td><td>1,785,377,365</td><td>9,143,487,303</td></tr><tr><td>Total</td><td>$6,174,807,096</td><td>$12,403,210,033</td><td>$3,303,724,074</td><td>$2,179,333,853</td><td>$44,629,073,702</td></tr></table><p>Source: Reports received from the corporations and agencies.</p><p>1/ Iters in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of fund drawn against available appropriations.</p><p>2/ Except for the R.O.L.C., sales of obligations in the market, as shown in this column, are reduced by the amount of obligations which have been retired (including those which have in effect been refunded through the sale of obligations to the Treasury). In the case of the H.O.L.C., the original amount of obligations sold in the market is shown in this column and the retirement and refunding of these obligations are shown as "Retirement of obligations issued in exchange for mortgages" in the statement of uses of funds.</p><p>3/ Includes $3,000,000 N.I.R.A.; $97,000,000 R.F.C. included in notes canceled by the Treasury (See footnote 4/); and $143,950,524 restoration of capital impairment, which is net of repayment to the Treasury of $43,756,731 on the basis of March 31, 1940 appraisal, and $27,815,514 on the basis of March 31, 1942 appraisal of the corporation, pursuant to Public Law No. 442 - 75th Congress, approved March 8, 1938.</p><p>4/ These funds were furnished by the R.F.C. from the proceeds of its notes sold to the Treasury, such amounts being included in the total of obligations of the corporation canceled by the Secretary of the Treasury pursuant to the Act of February 24, 1938.</p><p>5/ The R.F.C. purchased the stock of the Federal home loan banks from the Treasury Department on February 20, 1941. The net effect of this transaction is the same as a sale of stock to other agencies, and is shown as such for purposes of this report.</p><p>6/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the R.F.C. by Executive order effective October 31, 1942.</p><p>7/ Includes Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Transportation, 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.</p><p>8/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired".</p><p>9/ Includes $55,645,475 paid-in capital stock held by member institutions.</p>
74
Uses of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through August 31, 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 1,140,369</td><td>-</td><td>-</td><td>$ 473,275,190</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>16,211,544</td><td>-</td><td>$ 4,288,633,571</td><td>2,500,579,224</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>3,875,974</td><td>$ 131,258</td><td>-</td><td>30,397,447</td><td>-</td></tr><tr><td>Export-import Bank of Washington</td><td>956,512</td><td>18,064</td><td>-</td><td>277,233,485</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>32,210,757</td><td>-</td><td>-</td><td>158,381,957</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>88,152,945</td><td>6,893,160</td><td>20,052,321</td><td>1,090,754,692</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>12,375,103</td><td>-</td><td>-</td><td>1,047,602,817</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>5,035,937</td><td>5,654,175</td><td>-</td><td>271,179,840</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>23,858,093</td><td>8,073,812</td><td>72,576,546</td><td>1,174,789,520</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>1,953,616</td><td>107,410</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>245,450,905</td><td>156,563,700</td><td>155,840,918</td><td>3,273,767,032</td><td>$1,575,044,350 2/</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>103,616,646</td><td>12,504,956</td><td>470,484</td><td>8,102,038,121</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>6,133,147</td><td>5,102,701</td><td>9,791,033</td><td>269,189,027</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>18,271,557</td><td>-</td><td>-</td><td>370,950,761</td><td>-</td></tr><tr><td>War corporations 4/</td><td>6,531,066</td><td>21,074,819</td><td>7,076,725,727</td><td>358,119,697</td><td>-</td></tr><tr><td>Total</td><td>$565,775,171</td><td>$216,124,055</td><td>$11,624,090,600</td><td>$19,438,258,810</td><td>$1,575,644,350</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) $/</th><th>Allocations, re-discounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 42,607,615</td><td>-</td><td>$ 1,024,015</td><td>$ 3,542,693</td><td>$ 521,589,882</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$ 118,997,739</td><td>45,800,843</td><td>47,621,854</td><td>7,017,844,775</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>16,056,841</td><td>-</td><td>1,506</td><td>50,464,026</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>54,450,000</td><td>13,175,178</td><td>593,801</td><td>345,427,040</td></tr><tr><td>Federal Deposit insurance Corporation</td><td>630,377,750</td><td>-</td><td>-</td><td>33,142,824</td><td>894,113,288</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>633,834,800</td><td>-</td><td>337,406,748</td><td>24,592,956</td><td>2,201,687,521</td></tr><tr><td>Federal home loan banks</td><td>156,198,243</td><td>-</td><td>27,449,214</td><td>528,137</td><td>1,244,154,114</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>22,101,316</td><td>261,480</td><td>304,232,748</td></tr><tr><td>Federal Public Housing Authority</td><td>7,070,000</td><td>-</td><td>12,264,220</td><td>26,759,282</td><td>1,325,391,472</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>138,451,994</td><td>-</td><td>3,035,326</td><td>10,144,665 $/</td><td>153,693,010</td></tr><tr><td>Home Owners' Loan Corporation</td><td>173,637,975</td><td>-</td><td>579,666,639</td><td>8,089,783</td><td>6,162,661,303</td></tr><tr><td>Reconstruction Finance Corporation $/</td><td>369,041,001</td><td>5,414,855,298</td><td>329,230,137</td><td>18,829,579</td><td>14,350,586,221</td></tr><tr><td>RPC Mortgage Company, The</td><td>-</td><td>-</td><td>9,996,799</td><td>530,785</td><td>300,743,492</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>22,146,731</td><td>371,526</td><td>411,740,575</td></tr><tr><td>War corporations $/</td><td>1,000,000</td><td>264,330,044</td><td>1,446,924</td><td>1,250,522,503</td><td>8,979,750,779</td></tr><tr><td>Total</td><td>$2,152,219,978</td><td>$5,868,689,922</td><td>$1,404,744,090</td><td>$1,425,533,374</td><td>$44,271,080,346</td></tr></table>
Source: 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.
4/ Comprises Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Trans-
portation, 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.
5/ Includes U. S. Government bonds in the amount of $620,814,876 as follows: Federal Deposit Insurance Corporation, $453,377,750; Federal Savings and Loan Insurance Corporation, $26,664,500; Federal Public Housing Authority, $7,070,000; Federal home loan banks, $128,152,626; Central Bank for Cooperatives, $5,550,000.
6/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
INTERNAL REVENUE STATISTICS
-75-
76
Summary of Internal Revenue Collections
(In thousands of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th colspan="4">Income and profits taxes</th><th colspan="4">Employment taxes</th></tr><tr><th>Total</th><th>Individual 2/</th><th>Corporation income and excess profits 3/</th><th>Miscellaneous profits taxes 4/</th><th>Total</th><th>Social Security taxes 5/ Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th>Carriers' Taxing Act of 1937</th></tr><tr><td>1934</td><td>2,672,239</td><td>819,666</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>1,105,785</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>925,855</td><td>687,327</td><td>100,658</td><td>137,871</td></tr><tr><td>1942</td><td>13,029,912</td><td>8,006,860</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-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>1,999,588</td><td>562,515</td><td>1,425,942</td><td>11,231</td><td>25,263</td><td>2,576</td><td>951</td><td>21,736</td></tr><tr><td>1943-January</td><td>797,227</td><td>296,097</td><td>73,410</td><td>217,368</td><td>5,319</td><td>122,626</td><td>91,229</td><td>30,896</td><td>501</td></tr><tr><td>February</td><td>1,058,902</td><td>433,759</td><td>185,299</td><td>244,589</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>26,275</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>1,304,980</td><td>753,477</td><td>511,407</td><td>239,127</td><td>2,943</td><td>238,910</td><td>203,410</td><td>9,047</td><td>26,463</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><tr><td>July</td><td>1,958,885</td><td>1,231,442</td><td>873,819</td><td>347,376</td><td>10,247</td><td>115,826</td><td>109,533</td><td>4,846</td><td>1,447</td></tr><tr><td>August</td><td>1,672,217</td><td>813,577</td><td>511,977</td><td>298,726</td><td>2,874</td><td>263,723</td><td>222,363</td><td>8,547</td><td>32,813</td></tr><tr><td>September</td><td>4,613,249</td><td>4,191,778</td><td>2,044,715</td><td>2,132,387</td><td>14,676</td><td>27,863</td><td>2,949</td><td>937</td><td>23,977</td></tr></table>
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Capital stock tax</th><th>Estate and gift taxes</th><th>Alcoholo beverage taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>Manufacturers' and retailers' excise taxes</th><th>Miscellaneous taxes</th><th>Agricultural adjustment taxes</th></tr><tr><td>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>117,156</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>139,319</td><td>416,874</td><td>567,670</td><td>567,777</td><td>46,233</td><td>416,754</td><td>117,501</td><td>-</td></tr><tr><td>1939</td><td>2,236,821</td><td>127,203</td><td>360,715</td><td>587,605</td><td>579,784</td><td>41,083</td><td>396,891</td><td>143,540</td><td>-</td></tr><tr><td>1940</td><td>2,359,641</td><td>132,719</td><td>360,071</td><td>624,064</td><td>608,072</td><td>38,681</td><td>447,068</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>432,580</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-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>3,558</td><td>63,832</td><td>45,632</td><td>-</td></tr><tr><td>1943-January</td><td>378,501</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</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><tr><td>July</td><td>651,617</td><td>135,645</td><td>47,910</td><td>125,158</td><td>86,771</td><td>4,021</td><td>59,488</td><td>192,614</td><td>-</td></tr><tr><td>August</td><td>594,917</td><td>187,876</td><td>24,847</td><td>128,869</td><td>89,965</td><td>4,510</td><td>55,538</td><td>103,312</td><td>-</td></tr><tr><td>September</td><td>393,608</td><td>34,636</td><td>28,012</td><td>117,315</td><td>86,354</td><td>3,841</td><td>52,751</td><td>70,699</td><td>-</td></tr></table>
Source: Reports of collections.
1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc. (except for the fiscal years 1929 through 1934, when they aggregated less than $1 million a year).
2/ Includes victory tax collections and collections under the Current Tax Payment Act of 1943.
1/ 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 column entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
6/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
77
COLLECTIONS
OF INTERNAL
REVENUE
Fiscal Years 1929 to 1943
First 3 Months Fiscal Year 1944
* Includes miscellaneous profit taxes
78
Detailed Analysis of Current Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th colspan="3">First 3 months</th><th>Sources of revenue</th><th colspan="3">First 3 months</th></tr><tr><th></th><th>September 1943</th><th>Fiscal year 1943</th><th>Fiscal year 1944</th><th></th><th>September 1943</th><th>Fiscal year 1943</th><th>Fiscal year 1944</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>Withheld by employers (Current Tax Payment Act of 1943) 2/</td><td>1,133</td><td>-</td><td>1,814</td><td>Bonds, issues of capital stock, deeds of conveyance, etc.</td><td>2,120</td><td>4,692</td><td>6,249</td></tr><tr><td>Victory tax (Revenue Act of 1942).</td><td>5,698</td><td>-</td><td>776,640</td><td>Transfers of capital stock and similar interest sales.</td><td>1,083</td><td>2,083</td><td>4,279</td></tr><tr><td>Other:</td><td></td><td></td><td></td><td>Playing cards.</td><td>635</td><td>1,370</td><td>1,805</td></tr><tr><td>Current 1/</td><td>1,962,533</td><td>747,436</td><td>2,544,827</td><td>Silver bullion sales or transfers.</td><td>3</td><td>6</td><td>20</td></tr><tr><td>Back.</td><td>75,351</td><td>26,255</td><td>107,229</td><td>Total stamp taxes.</td><td>3,841</td><td>8,151</td><td>12,373</td></tr><tr><td>Corporation:</td><td></td><td></td><td></td><td>Manufacturers' and retailers' excise taxes:</td><td></td><td></td><td></td></tr><tr><td>Income taxes:</td><td></td><td></td><td></td><td>Lubricating oils.</td><td>3,838</td><td>10,033</td><td>12,922</td></tr><tr><td>Current 1/</td><td>577,306</td><td>917,478</td><td>1,130,023</td><td>Gasoline.</td><td>25,146</td><td>88,312</td><td>74,609</td></tr><tr><td>Back.</td><td>27,318</td><td>51,984</td><td>72,885</td><td>Tires and tubes.</td><td>2,562</td><td>2,957</td><td>8,960</td></tr><tr><td>Excise profits taxes (Second Revenue Act of 1940 as amended).</td><td>1,227,763</td><td>743,151</td><td>1,575,582</td><td>Floor taxes on tires and tubes.</td><td>2</td><td>25</td><td>15</td></tr><tr><td>Miscellaneous profits taxes:</td><td></td><td></td><td></td><td>Automobile trucks and buses.</td><td>132</td><td>1,978</td><td>419</td></tr><tr><td>Declared value.</td><td>14,646</td><td>21,344</td><td>27,665</td><td>Other automobiles and motorcycles.</td><td>-81</td><td>598</td><td>601</td></tr><tr><td>Vinson Act.</td><td>2</td><td>119</td><td>8</td><td>Parts and accessories for automobiles.</td><td>1,814</td><td>4,793</td><td>6,848</td></tr><tr><td>Unjust enrichment.</td><td>28</td><td>829</td><td>124</td><td>Electrical energy.</td><td>3,659</td><td>12,303</td><td>12,777</td></tr><tr><td>Total income and profits taxes.</td><td>4,191,778</td><td>2,508,606</td><td>6,236,797</td><td>Electric, gas, and oil appliances.</td><td>295</td><td>3,639</td><td>966</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Electric light bulbs and tubes.</td><td>111</td><td>783</td><td>628</td></tr><tr><td>Social Security taxes:</td><td></td><td></td><td></td><td>Electric signs (repealed as of 11/1/42).</td><td>296</td><td>309</td><td>329</td></tr><tr><td>Federal Insurance Contributions Act (Old-age insurance).</td><td>2,949</td><td>266,411</td><td>334,845</td><td>Radio sets, phonographs, components, etc.</td><td>163</td><td>2,519</td><td>631</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance).</td><td>937</td><td>12,337</td><td>14,331</td><td>Photograph records.</td><td>197</td><td>392</td><td>481</td></tr><tr><td>Total Social Security taxes.</td><td>3,886</td><td>278,748</td><td>349,176</td><td>Musical instruments.</td><td>25</td><td>589</td><td>222</td></tr><tr><td>Carriers' Taxing Act of 1937.</td><td>23,977</td><td>47,649</td><td>58,236</td><td>Mechanical refrigerators, air-conditioners, etc.</td><td>219</td><td>2,094</td><td>1,421</td></tr><tr><td>Total employment taxes.</td><td>27,863</td><td>326,397</td><td>407,412</td><td>Matches.</td><td>606</td><td>1,565</td><td>2,052</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td>Floor taxes on matches.</td><td>-</td><td>4</td><td>788</td></tr><tr><td>Capital stock tax.</td><td>34,636</td><td>1,051</td><td>358,157</td><td>Business and store machines.</td><td>216</td><td>2,356</td><td>6,837</td></tr><tr><td>State tax.</td><td>27,292</td><td>101,121</td><td>98,485</td><td>Pure - retailers' excise.</td><td>3,074</td><td>3,923</td><td>6,837</td></tr><tr><td>Gift tax.</td><td>720</td><td>2,191</td><td>2,285</td><td>Jewelry - retailers' excise.</td><td>6,371</td><td>16,895</td><td>22,141</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Luggage.</td><td>41</td><td>1,379</td><td>1,798</td></tr><tr><td>Distilled spirits (imported, excise).</td><td>12,981</td><td>10,424</td><td>38,831</td><td>Optical equipment (repealed as of 11/1/42).</td><td>-</td><td>180</td><td>1</td></tr><tr><td>Distilled spirits (domestic, excise).</td><td>43,801</td><td>178,541</td><td>137,727</td><td>Photographic apparatus.</td><td>1,027</td><td>2,777</td><td>3,069</td></tr><tr><td>Distilled spirits rectification tax.</td><td>1,421</td><td>5,855</td><td>4,095</td><td>Rubber articles (repealed as of 11/1/42).</td><td>8</td><td>6,900</td><td>102</td></tr><tr><td>Vinces, cordials, etc. (imported, excise).</td><td>142</td><td>66</td><td>348</td><td>Sporting goods.</td><td>192</td><td>2,181</td><td>679</td></tr><tr><td>Vinces, cordials, etc. (domestic, excise).</td><td>2,052</td><td>7,118</td><td>6,536</td><td>Toilet preparations - retailers' excise.</td><td>2,421</td><td>7,184</td><td>8,404</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940).</td><td>-</td><td>-</td><td>-</td><td>Washing machines (repealed as of 11/1/42).</td><td>1</td><td>26</td><td>31</td></tr><tr><td>Dealers in distilled spirits, rectifiers, manufacturers of stills (special taxes).</td><td>206</td><td>4,994</td><td>5,083</td><td>Firearms, shells and cartridges.</td><td>18</td><td>789</td><td>180</td></tr><tr><td>Stamps for distilled spirits intended for export.</td><td>3</td><td>-</td><td>10</td><td>Pistols and revolvers.</td><td>4</td><td>11</td><td>12</td></tr><tr><td>Case stamps for distilled spirits bottled in bond.</td><td>149</td><td>397</td><td>362</td><td>Repealed taxes not listed above.</td><td>4</td><td>63</td><td>54</td></tr><tr><td>Container stamps.</td><td>632</td><td>3,568</td><td>1,926</td><td>Total manufacturers' and retailers' excise taxes.</td><td>52,751</td><td>177,557</td><td>167,777</td></tr><tr><td>Floor taxes.</td><td>9,083</td><td>13,948</td><td>24,454</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td></tr><tr><td>Persected malt liquors.</td><td>46,769</td><td>120,898</td><td>149,784</td><td>Bituminous Coal Act of 1937.</td><td>349</td><td>1,418</td><td>1,161</td></tr><tr><td>Browers; dealers in malt liquors (special taxes).</td><td>76</td><td>2,353</td><td>2,196</td><td>Sugar Act of 1937.</td><td>6,549</td><td>14,524</td><td>18,488</td></tr><tr><td>Total alcoholic beverage taxes.</td><td>117,315</td><td>348,162</td><td>371,352</td><td>Telephone, telegraph, radio and cable, leased wires, etc.</td><td>7,961</td><td>17,251</td><td>33,461</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Local telephone service.</td><td>4,568</td><td>13,393</td><td>21,799</td></tr><tr><td>Cigars (large).</td><td>2,406</td><td>3,712</td><td>6,937</td><td>Transportation of oil by pipe line.</td><td>1,133</td><td>3,547</td><td>3,928</td></tr><tr><td>Cigars (small).</td><td>9</td><td>25</td><td>23</td><td>Transportation of persons, boats, births.</td><td>14,814</td><td>13,611</td><td>42,601</td></tr><tr><td>Cigarettes (large).</td><td>5</td><td>5</td><td>12</td><td>Transportation of property (effective 12/1/42).</td><td>15,839</td><td>-</td><td>54,012</td></tr><tr><td>Cigarettes (small).</td><td>79,006</td><td>206,748</td><td>241,949</td><td>Use of motor vehicles (effective 2/1/42).</td><td>2,590</td><td>135,048</td><td>123,885</td></tr><tr><td>Stuff.</td><td>600</td><td>1,629</td><td>1,861</td><td>Use of boats (effective 2/1/42).</td><td>37</td><td>288</td><td>181</td></tr><tr><td>Tobacco (chewing and smoking).</td><td>4,232</td><td>12,712</td><td>11,935</td><td>Leases of safe-deposit boxes.</td><td>511</td><td>1,243</td><td>1,652</td></tr><tr><td>Cigarette papers and tubes.</td><td>94</td><td>326</td><td>359</td><td>Admissions to theaters, concerts.</td><td>13,926</td><td>38,583</td><td>45,855</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>-</td><td>1</td><td>-</td><td>Cabarets, etc.</td><td>562</td><td>1,803</td><td>1,970</td></tr><tr><td>Cigarette and cigar floor taxes.</td><td>2</td><td>-</td><td>13</td><td>Club dues and initiation fees.</td><td>142</td><td>1,333</td><td>1,768</td></tr><tr><td>Total tobacco taxes.</td><td>86,354</td><td>225,158</td><td>263,089</td><td>Bowling alleys, pool tables, etc.</td><td>987</td><td>6,301</td><td>13,766</td></tr><tr><td>Alutreated and processed or renovated butter, mixed flour 1/ and filled cheese.</td><td>3</td><td>14</td><td>6</td><td>Coin operated devices.</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Oleomargarine, including special taxes.</td><td>250</td><td>1,064</td><td>1,405</td><td>Haracterics, including marijuana and special taxes.</td><td>46</td><td>215</td><td>270</td></tr><tr><td>Coconut and other vegetable oils processed.</td><td>430</td><td>640</td><td>739</td><td>National Firearms Act.</td><td>1</td><td>11</td><td>13</td></tr><tr><td>All other, including repealed taxes not listed above.</td><td>1</td><td>15</td><td>4</td><td>Total miscellaneous taxes.</td><td>70,699</td><td>250,302</td><td>366,624</td></tr><tr><td>Total miscellaneous internal revenue.</td><td>393,608</td><td>1,113,693</td><td>1,640,142</td><td>Total miscellaneous internal revenue.</td><td>4,613,249</td><td>3,948,696</td><td>8,284,351</td></tr></table>
Source: Reports of collections.
Less than $500. 1/ Excludes collections for credit to certain trust accounts for territories and insular possessions, etc.
2/ Consists only of tax collections under the Current Tax payment Act of 1943 for which returns have been filed with the Collector of Internal Revenue. Collections as shown in Daily Treasury Statements consist of withholdings deposited in Government depositaries in
In addition to payments accompanying returns filed with the Collector of Internal Revenue.
3/ Current collections consist in general of taxes paid within twelve months after the close of the taxable year for which the return was filed.
4/ Tax imposed upon the manufacture and sale of, and the occupational tax on, mixed flour repealed as of November 1, 1942.
GOLD AND SILVER STATISTICS
-79-
80
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>Liabilities</th><th></th><th></th></tr><tr><th></th><th></th><th>Gold Certificates 1/</th><th>Gold Reserve against U. S. notes, etc. 2/</th><th>Exchange Stabilization Fund 3/</th><th>Gold in General Fund</th></tr><tr><td>1934</td><td>8,238.6</td><td>5,274.0</td><td>156.0</td><td>1,800.0</td><td>1,008.6</td></tr><tr><td>1935</td><td>10,122.9</td><td>7,679.5</td><td>156.0</td><td>1,800.0</td><td>487.4</td></tr><tr><td>1936</td><td>11,257.6</td><td>8,959.6</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,633.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1940</td><td>21,994.5</td><td>19,825.4</td><td>156.0</td><td>1,800.0</td><td>213.2</td></tr><tr><td>1941</td><td>22,736.1</td><td>20,564.8</td><td>156.0</td><td>1,800.0</td><td>215.3</td></tr><tr><td>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-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</td><td>22,387.5</td><td>20,281.3</td><td>156.0</td><td>1,800.0</td><td>150.2</td></tr><tr><td>July</td><td>22,334.8</td><td>20,219.4</td><td>156.0</td><td>1,800.0</td><td>159.4</td></tr><tr><td>August</td><td>22,242.8</td><td>20,127.7</td><td>156.0</td><td>1,800.0</td><td>159.1</td></tr><tr><td>September p.</td><td>22,175.0</td><td>20,067.2</td><td>156.0</td><td>1,800.0</td><td>151.8</td></tr></table>
Source: Daily Treasury Statements. p Preliminary. 1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (e) the
Gold Certificate Fund - Board of Governors, Federal Reserve System, and (b) the Redemption Fund - Federal Reserve notes. Reserve against United States notes and Treasury notes of 1890. Excludes gold in active portion of Exchange Stabilisation Fund.
Monetary Stocks of Gold and Silver
(in millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Gold ($35 per fine ounce)</th><th>Silver ($1.29+ per fine ounce)</th><th>Ratio of silver to gold and silver in monetary stocks</th></tr><tr><td>1934</td><td>7,856.2</td><td>898.2</td><td>10.3</td></tr><tr><td>1935</td><td>9,115.6</td><td>1,463.1</td><td>13.8</td></tr><tr><td>1936</td><td>10,608.4</td><td>2,249.5</td><td>17.5</td></tr><tr><td>1937</td><td>12,318.3</td><td>2,542.1</td><td>17.2</td></tr><tr><td>1938</td><td>12,963.0</td><td>3,066.4</td><td>19.1</td></tr><tr><td>1939</td><td>16,110.1</td><td>3,605.2</td><td>18.3</td></tr><tr><td>1940</td><td>19,963.1</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>22,716.7</td><td>4,306.3</td><td>15.9</td></tr><tr><td>1943</td><td>22,387.5</td><td>4,298.5</td><td>16.1</td></tr><tr><td>1942-September</td><td>22,754.4</td><td>4,320.2</td><td>16.0</td></tr><tr><td>October</td><td>22,740.1</td><td>4,319.7</td><td>16.0</td></tr><tr><td>November</td><td>22,743.4</td><td>4,319.6</td><td>16.0</td></tr><tr><td>December</td><td>22,726.3</td><td>4,317.6</td><td>16.0</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</td><td>22,387.5</td><td>4,298.5</td><td>16.1</td></tr><tr><td>July</td><td>22,334.8</td><td>4,294.4</td><td>16.1</td></tr><tr><td>August</td><td>22,242.8</td><td>4,276.0</td><td>16.1</td></tr><tr><td>September y.</td><td>22,175.0</td><td>4,233.8</td><td>16.0</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p. Preliminary.
Increment Resulting from the Reduction in the Weight of the Gold Dollar, September 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 Stabilisation 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>23,562,750.78</td><td>-</td><td>23,562,750.78</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>7,795,417.69</td><td>-</td><td>7,795,417.69</td></tr><tr><td>Total increment</td><td>$2,618,520,612.04</td><td>$2,674,781,252.67</td><td>$143,739,560.17</td></tr></table>
81
Components of Silver Monetary Stock
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th colspan="2">Securing silver certificates 1/</th><th colspan="3">In General Fund</th><th colspan="2">Silver outside Treasury</th><th>Total silver at $1.29 per ounce</th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recettage 2/</th><th>Bullion at cost</th><th>Silver dollars 1/</th><th>Subsidiary coin 2/</th><th></th></tr><tr><td>1934</td><td>211.6</td><td>508.4</td><td>4.2</td><td>8.8</td><td>89.3</td><td>35.2</td><td>305.3</td><td>1,279.7</td></tr><tr><td>1935</td><td>576.9</td><td>508.7</td><td>4.2</td><td>.2</td><td>262.7</td><td>38.4</td><td>325.5</td><td>1,970.1</td></tr><tr><td>1936</td><td>775.9</td><td>505.7</td><td>5.7</td><td>.3</td><td>347.7</td><td>61.3</td><td>350.4</td><td>2,402.3</td></tr><tr><td>1937</td><td>938.8</td><td>503.7</td><td>5.4</td><td>*</td><td>428.6</td><td>43.4</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>2.3</td><td>*</td><td>657.4</td><td>52.5</td><td>422.4</td><td>4,060.0</td></tr><tr><td>1941</td><td>1,476.1</td><td>484.1</td><td>3.5</td><td>*</td><td>662.3</td><td>63.0</td><td>493.5</td><td>4,244.8</td></tr><tr><td>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-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</td><td>1,519.7</td><td>453.3</td><td>36.9</td><td>.2</td><td>592.1</td><td>85.7</td><td>623.1</td><td>4,298.5</td></tr><tr><td>July</td><td>1,519.7</td><td>445.9</td><td>35.5</td><td>.2</td><td>589.1</td><td>87.5</td><td>633.2</td><td>4,294.4</td></tr><tr><td>August</td><td>1,519.7</td><td>429.9</td><td>34.2</td><td>.2</td><td>584.9</td><td>88.8</td><td>642.2</td><td>4,276.0</td></tr><tr><td>September p</td><td>1,519.7</td><td>426.8</td><td>28.3</td><td>1.5</td><td>567.7</td><td>90.4</td><td>653.9</td><td>4,233.8</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. Preliminary. Less than $50,000. Valued at $1.29+ per ounce. Valued at $1.38+ per ounce.
Silver Production in the United States and Silver Acquisition by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th>Calendar year or month</th><th>Silver production in United States</th><th colspan="6">Silver acquired by mints and assay offices</th></tr><tr><th></th><th>Ounces</th><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Nationalized silver 1/</th><th colspan="2">Foreign silver 4/</th><th colspan="2">Total</th></tr><tr><th></th><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>1934</td><td>32.5</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>45.6</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>63.4</td><td>51.1</td><td>47.3</td><td>.4</td><td>.2</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.8</td></tr><tr><td>1937</td><td>71.3</td><td>70.6</td><td>54.6</td><td>-</td><td>-</td><td>241.5</td><td>108.7</td><td>312.2</td><td>163.3</td></tr><tr><td>1938</td><td>61.7</td><td>61.6</td><td>42.4</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>53.9</td><td>60.7</td><td>40.1</td><td>-</td><td>-</td><td>282.8</td><td>120.5</td><td>343.3</td><td>160.6</td></tr><tr><td>1940</td><td>57.0</td><td>68.3</td><td>48.5</td><td>-</td><td>-</td><td>139.8</td><td>50.9</td><td>208.0</td><td>99.4</td></tr><tr><td>1941</td><td>69.1</td><td>70.5</td><td>50.1</td><td>-</td><td>-</td><td>72.6</td><td>27.1</td><td>143.1</td><td>77.2</td></tr><tr><td>1942</td><td>54.5</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-September</td><td>4.6</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>3.8</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>3.3</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>3.7</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>3.8 r</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>3.4 r</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>3.9 r</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>3.8 r</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>3.2 r</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>3.9 r</td><td>1.2</td><td>.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.2</td><td>.8</td></tr><tr><td>July</td><td>4.4 r</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td></tr><tr><td>August</td><td>4.0</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td></tr><tr><td>September</td><td>5/</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>*</td><td>*</td></tr></table>
Source: Silver production: Annual Reports of the Director of the Mint for animal figures through 1939; release of American Bureau of Metal Statistics for all later figures.
1/ For information on silver production in other countries from 1933 through 1940 or 1941, see "Treasury Bulletin" for August 1943, page 74.
2/ Acquired at 64.64+ cents per fine ounce until April 9, 1935;
at 71.11¢ cents per fine ounce from that date until April 23, 1935; at 77.57¢ cents from April 23, 1935 to December 31, 1937; at 64.64¢ cents per fine ounce from December 31, 1937 to July 1, 1939; and at 71.11¢ cents since July 1, 1939. 1/ Acquired at 50.01 cents per fine ounce. Executive Proclama-tion of August 9, 1934, repealed April 28, 1935. 2/ Acquired at various prices averaging approximately 51 cents per ounce. 3/ Not yet available.
82
Signiorage 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>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Novly-mixed silver (Proc. Deco. 21, 1933)</th><th>Novly-mixed silver (Act July 6, 1939)</th><th>Silver Purchase Act of June 19.</th><th>Rationalised silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>-</td><td>51.1</td><td>25.5</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-September</td><td>225.8</td><td>48.7</td><td>87.6</td><td>62.4</td><td>584.3</td><td>34.7</td><td>817.7</td><td>1,082.5</td></tr><tr><td>October</td><td>233.4</td><td>48.7</td><td>87.6</td><td>63.1</td><td>584.3</td><td>34.7</td><td>818.4</td><td>1,068.5</td></tr><tr><td>November</td><td>239.5</td><td>48.7</td><td>87.6</td><td>63.4</td><td>584.3</td><td>34.7</td><td>818.7</td><td>1,060.0</td></tr><tr><td>December</td><td>245.7</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.2</td></tr><tr><td>1943-January</td><td>251.0</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,029.7</td></tr><tr><td>February</td><td>257.5</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.4 3/</td></tr><tr><td>March</td><td>264.9</td><td>48.7</td><td>87.6</td><td>63.9</td><td>584.3</td><td>34.7</td><td>819.2</td><td>1,038.9</td></tr><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><tr><td>July</td><td>283.3</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>1,026.5</td></tr><tr><td>August</td><td>286.0</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>1,020.0</td></tr><tr><td>September</td><td>288.9</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>989.7</td></tr></table>
Basic: Daily Treasury Statements. 1/ These items represent the difference between the cost value and the monetary value of silver bullion revalued and held to secure silver certificates.
2/ The figures in this column are not cumulative; as the amount of bullion held changes, the potential esignificance thereon changes. 
1/ Increases due principally to cumulative adjustment in computing average cost per ounce.
OTHER TREASURY STATISTICS
g4
Balance Sheet of the Exchange Stabilization Fund
As of June 30, 1942 and June 30, 1943
<table><tr><th></th><th>June 30, 1942</th><th>June 30, 1943</th></tr><tr><td>Assets</td><td></td><td></td></tr><tr><td>Cash:</td><td></td><td></td></tr><tr><td>Treasurer of the United States, gold</td><td>$1,800,000,000.00</td><td>$1,800,000,000.00</td></tr><tr><td>Treasurer of the United States, checking account</td><td>1,581,258.70</td><td>1,580,734.54</td></tr><tr><td>Federal Reserve Bank of New York, special account</td><td>177,908,989.03</td><td>201,670,431.08</td></tr><tr><td>Disbursing officers' balances and advance accounts</td><td>10,965.48</td><td>4,320.56</td></tr><tr><td>Total cash</td><td>$1,979,501,213.21</td><td>$2,003,255,486.18</td></tr><tr><td>Cold 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>10,500,529.80</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>$991,372.25</td></tr><tr><td>French francs</td><td>17.88</td><td>17.88</td></tr><tr><td>Belgus</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 Chica</td><td>19,121,925.34 2/</td><td>-</td></tr><tr><td>Foreign depositories</td><td>-</td><td>419,699.37</td></tr><tr><td>Total due from foreign banks</td><td>19,358,058.12</td><td>1,414,574.61</td></tr><tr><td>Due from the Government of the Republic of Cuba</td><td>-</td><td>5,012,670.78</td></tr><tr><td>Investments in United States Government securities (Schedule 2)</td><td>10,448,723.13</td><td>10,448,723.13</td></tr><tr><td>Accrued interest receivable (Schedule 2)</td><td>9,730.73</td><td>9,730.73</td></tr><tr><td>Other accounts (deferred charges)</td><td>984.77</td><td>23.07</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>$2,030,044,374.30</td></tr><tr><td>Liabilities and Capital</td><td></td><td></td></tr><tr><td>Accounts payable:</td><td></td><td></td></tr><tr><td>Victory tax withheld from salaries of employees</td><td>-</td><td>$2,277.50</td></tr><tr><td>Treasury Department</td><td>-</td><td>-</td></tr><tr><td>Employees' pay-roll allotment account, United States</td><td>$376.89</td><td>$532.29</td></tr><tr><td>Savings bonds</td><td>218.91</td><td>2,465.73</td></tr><tr><td>Vouchers payable</td><td>-</td><td>-</td></tr><tr><td>Due to foreign banks</td><td>-</td><td>-</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>4,507.67</td></tr><tr><td>Total accounts payable</td><td>$2,473,812.54</td><td>$9,783.19</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>30,634,991.11</td></tr><tr><td>Total liabilities and capital</td><td>$2,031,615,840.43</td><td>$2,030,044,374.30</td></tr></table>
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, 1935 can be found in previous issues of the "Treasury Bulletin".
1/ Consisted of 941,053.554 ounces on June 30, 1942.
2/ Consisted of secured deposits amounting to 65,032.054.79 yuan as of June 30, 1942. Gold held as collateral amounted to $19,379,015.65.
Schedules for Balance Sheet of the Exchange Stabilization Fund
Schedule 1
Location of gold held by and for account of the Exchange Stabilisation Fund
<table><tr><th>Location</th><th colspan="2">June 30, 1942</th><th colspan="2">June 30, 1943</th></tr><tr><th></th><th>Ounces</th><th>Dollars</th><th>Ounces</th><th>Dollars</th></tr><tr><td>Federal Reserve Bank of New York.</td><td>3,939.543</td><td>$ 137,684.01</td><td>92,038.180</td><td>$ 3,221,334.92</td></tr><tr><td>U. S. Assay Office, New York.</td><td>222,804.612</td><td>7,198,161.46</td><td>207,976.990</td><td>7,279,198.88</td></tr><tr><td>Total.</td><td>226,744.155</td><td>$7,936,045.47</td><td>300,015.130</td><td>$10,500,529.80</td></tr></table>
1/ Excludes gold held by Treasurer of the United States and gold purchased from Union of Soviet Socialist Republics.
85
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">June 30, 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>$9,221.31</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>56.35</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>453.07</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>$9,730.73</td></tr></table>
Schedule 3
Earnings of the Exchange Stabilization Fund
<table><tr><th>Source</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through June 30, 1943</th></tr><tr><td>Profits on British sterling transactions.</td><td>$ 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>Profits on gold bullion (including profits from handling charges on gold).</td><td>19,948,590.50</td><td>21,357,999.25</td></tr><tr><td>Profits on silver transactions.</td><td>105,371.27</td><td>105,371.27</td></tr><tr><td>Profits on sale of silver bullion to Treasury (nationalized).</td><td>3,473,362.29</td><td>3,473,362.29</td></tr><tr><td>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>3,948,439.14</td></tr><tr><td>Miscellaneous profits.</td><td>473.74</td><td>497.51</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>1,975,317.07</td></tr><tr><td>Total earnings</td><td>$30,885,535.11</td><td>$32,666,377.38</td></tr></table>
Schedule 4
Administrative expenses of the Exchange Stabilization Fund
<table><tr><th>Classification</th><th>January 31, 1934 through June 30, 1942</th><th>January 31, 1934 through June 30, 1943</th></tr><tr><td>Salaryee.</td><td>$1,151,157.10</td><td>$1,393,816.42</td></tr><tr><td>Travel.</td><td>61,553.90</td><td>67,018.04</td></tr><tr><td>Subsistence.</td><td>45,910.27</td><td>57,431.02</td></tr><tr><td>Telephone and telegraph.</td><td>335,665.52</td><td>357,835.71</td></tr><tr><td>Stationery, etc.</td><td>17,765.20</td><td>19,026.27</td></tr><tr><td>All other.</td><td>131,455.23</td><td>136,658.81</td></tr><tr><td>Total administrative expense.</td><td>$1,743,507.22</td><td>$2,031,786.27</td></tr></table>
86
Net Capital Movement to the United States, 1935 through July 1943
In thousands of dollars. Net capital outflow (-)
<table><tr><th rowspan="2">Period</th><th rowspan="2">Net capital movement</th><th colspan="4">Analysis of net capital movement</th></tr><tr><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 colspan="6">Calendar years:</td></tr><tr><td>1935 (Jan. 2, 1935-Jan. 1, 1936)</td><td>1,412,486</td><td>964,629</td><td>6,039</td><td>316,660</td><td>125,158</td></tr><tr><td>1936 (Jan. 2, 1936-Dec. 30, 1936)</td><td>1,195,922</td><td>397,342</td><td>6,811</td><td>600,693</td><td>191,076</td></tr><tr><td>1937 (Dec. 31, 1936-Dec. 29, 1937)</td><td>801,915</td><td>255,594</td><td>34,687</td><td>244,626</td><td>267,008</td></tr><tr><td>1938 (Dec. 30, 1937-Dec. 28, 1938)</td><td>415,256</td><td>331,268</td><td>34</td><td>57,196</td><td>26,758</td></tr><tr><td>1939 (Dec. 29, 1938-Jan. 3, 1940)</td><td>1,195,635</td><td>1,132,383</td><td>32,990</td><td>-85,427</td><td>115,689</td></tr><tr><td>1940 (Jan. 4, 1940-Dec. 31, 1940)</td><td>706,380</td><td>852,928</td><td>20,358</td><td>-245,062</td><td>78,156</td></tr><tr><td>1941 (Jan. 1, 1941-Dec. 31, 1941)</td><td>-496,923</td><td>-286,622</td><td>-49</td><td>-261,955</td><td>51,703</td></tr><tr><td>1942 (Jan. 1, 1942-Dec. 31, 1942)</td><td>604,321</td><td>561,573</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943 (Jan. 1, 1943-July 31, 1943)</td><td>721,000</td><td>749,162</td><td>8,169</td><td>18,986</td><td>-55,317</td></tr><tr><td>Total (Jan. 2, 1935-July 31, 1943)</td><td>6,555,992</td><td>4,958,257</td><td>112,552</td><td>692,316</td><td>792,867</td></tr><tr><td colspan="6">Months:</td></tr><tr><td>1942-July</td><td>47,282</td><td>58,078</td><td>-2,593</td><td>1,303</td><td>-9,506</td></tr><tr><td>August</td><td>57,345</td><td>48,413</td><td>251</td><td>9,427</td><td>-746</td></tr><tr><td>September</td><td>55,018</td><td>46,121</td><td>3,574</td><td>3,401</td><td>1,922</td></tr><tr><td>October</td><td>39,788</td><td>23,382</td><td>-3,331</td><td>8,146</td><td>11,591</td></tr><tr><td>November</td><td>66,905</td><td>57,538</td><td>-90</td><td>6,725</td><td>2,732</td></tr><tr><td>December</td><td>73,375</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><tr><td>May</td><td>70,330</td><td>74,311</td><td>-1,027</td><td>-389</td><td>-2,565</td></tr><tr><td>June</td><td>223,795</td><td>224,845</td><td>3,662</td><td>-4,537</td><td>-175</td></tr><tr><td>July</td><td>49,592</td><td>58,720</td><td>420</td><td>4,392</td><td>-13,940</td></tr></table>
Back Figures: Monthly data for the period January 1941 through June 1942 may be found in the "Treasury Bulletin" for September 1943, page 73.
FOR VICTORY BUY UNITED STATES WAR BONDS AND STAMPS
U.S. TREASURY LIBRARY 1 0031922