Treas. HJ 10 A.2 c.2
LIBRARY ROOM 5030
JUN 2, 1972
TREASURY DEPARTMENT
FOR VICTORY
BUY UNITED STATES WAR BONDS AND STAMPS
BULLETIN OF THE TREASURY DEPARTMENT
FEBRUARY
1944
Analysis of Receipts and Expenditures Composition of the Public Debt Prices and Yields of Government Securities Other Treasury Statistics
UNITED STATES TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Bulletin of the Treasury Department, February 1944
Cumulative Table of Contents
<table><tr><th rowspan="2"></th><th colspan="13">Issue and page number</th></tr><tr><th colspan="3">1944</th><th colspan="10">1943</th></tr><tr><th></th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th></tr><tr><td>I. Special articles</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>War Loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fourth War Loan, January-February 1944:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Preliminary report on sales.</td><td>A-2</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Outline of plans.</td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Comparison of features of securities offered.</td><td></td><td></td><td>8-9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Third War Loan, September 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>Sales of securities, classified by issues, by types of investor, and by States.</td><td></td><td></td><td></td><td></td><td>1-7</td><td></td><td></td><td>2-3</td><td></td><td></td><td></td><td></td></tr><tr><td>Comparison of features of securities offered.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Redemption values and investment yields of United States savings bonds and Treasury savings notes.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>4</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Second War Loan, April 1943:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2</td><td></td><td></td></tr><tr><td>Sales of Series E savings bonds by States.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2-6</td><td></td></tr><tr><td>Sales of securities, classified by issues, by types of investor, and by Federal Reserve District.</td><td></td><td></td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td>2-3</td><td></td></tr><tr><td>Comparison of features of securities offered.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>First War Loan, December 1942, sales of securities classified by type of investor.</td><td></td><td></td><td></td><td></td><td>7</td><td></td><td></td><td></td><td></td><td></td><td>6</td><td></td></tr><tr><td>Treasury market financing.</td><td>A-2</td><td></td><td>7</td><td></td><td>5</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Financing the war and the post-war readjustment.</td><td></td><td></td><td>1-6</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Financial operations of the United States Government during the fiscal year 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>2-5</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></td><td></td><td></td><td></td><td></td><td>7</td><td></td></tr><tr><td>Bank deposits:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>4-5</td><td></td></tr><tr><td>Maps showing deposits by counties, as of December 31, 1942 and increases during 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>2-3</td></tr><tr><td>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></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>II. Summary of fiscal statistics</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary receipts and expenditures.</td><td>2</td><td>2</td><td>10</td><td>2</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></tr><tr><td>Public debt and guaranteed obligations outstanding.</td><td>3</td><td>3</td><td>11</td><td>3</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></tr><tr><td>Means of financing cash requirements.</td><td>3</td><td>3</td><td>11</td><td>3</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></tr><tr><td>III. Receipts and expenditures and appropriations</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Appropriations and net contract authorizations for the war activities program as of month-end preceding month of publication.</td><td>5-6</td><td>5-6</td><td>13-14</td><td>5-6</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></tr><tr><td>Budgetary receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary by major classifications.</td><td>7</td><td>7</td><td>15</td><td>7</td><td>15</td><td>7</td><td>11</td><td>13</td><td>9</td><td>14</td><td>12</td><td>10</td></tr><tr><td>Analysis of receipts from internal revenue.</td><td>7</td><td>7</td><td>15</td><td>7</td><td>15</td><td>7</td><td>11</td><td>13</td><td>9</td><td>14</td><td>12</td><td>10</td></tr><tr><td>Analysis of general expenditures.</td><td>8</td><td>8</td><td>16</td><td>8</td><td>16</td><td>8</td><td>12</td><td>14</td><td>10</td><td>15</td><td>13</td><td>11</td></tr><tr><td>Analysis of expenditures for war activities.</td><td>9</td><td>9</td><td>17</td><td>9</td><td>17</td><td>9</td><td>12</td><td>14</td><td>10</td><td>15</td><td>13</td><td>11</td></tr><tr><td>Analysis of expenditures for war activities, monthly July 1940 through April 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>7</td><td></td><td></td></tr><tr><td>Analysis of expenditures for (1) revolving funds and (2) transfers to trust accounts, etc.</td><td>9</td><td>9</td><td>17</td><td>9</td><td>17</td><td>9</td><td>13</td><td>15</td><td>11</td><td>16</td><td>14</td><td>12</td></tr><tr><td>Total budgetary receipts and expenditures, by months, for recent years.</td><td>10-11</td><td>10-11</td><td>18-19</td><td>10-11</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></tr><tr><td>Trust account, etc. receipts and expenditures.</td><td>12</td><td>12</td><td>20</td><td>12</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></tr><tr><td>Means of financing cash requirements.</td><td>13</td><td>13</td><td>21</td><td>13</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></tr><tr><td>Social Security program:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Budgetary receipts and expenditures:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Social Security Act.</td><td>14</td><td>14</td><td>22</td><td>14</td><td>22</td><td>14</td><td>17</td><td>19</td><td>15</td><td>20</td><td>18</td><td>16</td></tr><tr><td>Railroad Retirement Act.</td><td>15</td><td>15</td><td>23</td><td>15</td><td>23</td><td>15</td><td>18</td><td>20</td><td>16</td><td>21</td><td>19</td><td>17</td></tr><tr><td>Railroad Unemployment Insurance Act.</td><td>15</td><td>15</td><td>23</td><td>15</td><td>23</td><td>15</td><td>18</td><td>20</td><td>16</td><td>21</td><td>19</td><td>17</td></tr><tr><td>Statement of trust accounts:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund.</td><td>16</td><td>16</td><td>24</td><td>16</td><td>24</td><td>16</td><td>19</td><td>21</td><td>17</td><td>22</td><td>20</td><td>18</td></tr><tr><td>Railroad Retirement Account.</td><td>16</td><td>16</td><td>24</td><td>16</td><td>24</td><td>16</td><td>19</td><td>21</td><td>17</td><td>22</td><td>20</td><td>18</td></tr><tr><td>Unemployment Trust Fund.</td><td>16</td><td>16</td><td>24</td><td>16</td><td>24</td><td>16</td><td>19</td><td>21</td><td>17</td><td>22</td><td>20</td><td>18</td></tr><tr><td>Cash income and outgo of the Treasury:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Analysis by major classifications.</td><td>17</td><td>17</td><td>25</td><td>17</td><td>25</td><td>17</td><td>20</td><td>22</td><td>18</td><td>23</td><td>21</td><td>19</td></tr><tr><td>Total cash income and outgo by months beginning with:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 1938.</td><td>17</td><td>17</td><td>25</td><td>17-18</td><td>25-26</td><td>17-18</td><td>20-21</td><td>22-23</td><td>18-19</td><td>23-24</td><td>21-22</td><td>19-20</td></tr></table>
(Continued on following page)
Bulletin of the Treasury Department, February 1944
Cumulative Table of Contents - (Continued)
<table><tr><th rowspan="2"></th><th colspan="2">1944</th><th colspan="10">Issue and page number</th></tr><tr><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th></tr><tr><td>IV. General Fund of the Treasury</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets, liabilities, and balance in General Fund.</td><td>19</td><td>19</td><td>27</td><td>20</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></tr><tr><td>Analysis of changes in balance of General Fund.</td><td>20</td><td>20</td><td>28</td><td>21</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></tr><tr><td>V. Public debt and guaranteed obligations of United States Government</td><td></td><td></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 and guaranteed obligations:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary</td><td>22</td><td>22</td><td>30</td><td>23</td><td>31</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Detailed statement</td><td>23</td><td>23</td><td>31</td><td>24</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></tr><tr><td>Chart</td><td>24</td><td>24</td><td>32</td><td>25</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></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>Insurance and retirement (receipts and expenditures).</td><td>22</td><td>22</td><td>30</td><td>23</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></tr><tr><td>Interest-bearing debt, composition of</td><td>25</td><td>25</td><td>33</td><td>26</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></tr><tr><td>Guaranteed obligations held by Treasury.</td><td>25</td><td>25</td><td>33</td><td>26</td><td>34</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Debt position of United States Government 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>30</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>31</td><td></td><td></td><td></td></tr><tr><td>June 30, 1943</td><td></td><td></td><td></td><td></td><td>35</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>26</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, 1943</td><td></td><td></td><td>34</td><td>27</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></tr><tr><td>Computed interest charge and computed interest rate</td><td>26</td><td>27</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Maturity schedule of interest-bearing public marketable securities issued or guaranteed by the United States, as of month-end preceding month of publication</td><td>27-29</td><td>28-30</td><td>35-37</td><td>28-30</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></tr><tr><td>Offerings of marketable securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>34</td><td>31</td></tr><tr><td>January 1, 1939</td><td></td><td>31</td><td>38</td><td>31</td><td>40</td><td>29</td><td>32</td><td>35</td><td>30</td><td>35</td><td></td><td></td></tr><tr><td>January 1, 1940</td><td>30</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 1, 1941</td><td>31-32</td><td>32-33</td><td>39-40</td><td>32</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></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></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of sales and redemptions, by series</td><td>33-34</td><td>34-35</td><td>41-42</td><td>33-34</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></tr><tr><td>Sales reported by series, classified by:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Denomination</td><td>35</td><td>36</td><td>43</td><td>35</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></tr><tr><td>States</td><td>36-37</td><td>37-38</td><td>44-45</td><td>36-37</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></tr><tr><td>Redemption values and investment yields</td><td>38</td><td>39</td><td>46</td><td>38</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></tr><tr><td>Payroll savings plans</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury notes - tax and savings series:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of sales and redemptions, by series</td><td>39-40</td><td>40-41</td><td>47-48</td><td>39-40</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></tr><tr><td>Sales, classified by:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Denomination</td><td>41</td><td>42</td><td>49</td><td>41</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></tr><tr><td>Type of purchaser</td><td>41</td><td>42</td><td>49</td><td>41</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></tr><tr><td>Redemption values and investment yields</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>United States savings stamps:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary of sales and redemptions</td><td>42</td><td>43</td><td>50</td><td>42</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></tr><tr><td>Sales, classified by:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Denomination</td><td>42</td><td>43</td><td>50</td><td>42</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></tr><tr><td>States</td><td>43</td><td>44</td><td>51</td><td>43</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></tr><tr><td>VI. Ownership of Government securities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary distribution, by holders, of securities issued or guaranteed by the United States</td><td>45</td><td>46</td><td>53</td><td>45</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></tr><tr><td>Market transactions in Government securities for Treasury investment accounts, monthly beginning January 1937</td><td>45</td><td>46</td><td>53</td><td>45</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></tr><tr><td>Summary data from Treasury survey of the ownership of Government securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>January 31, 1943</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>47-52</td><td></td></tr><tr><td>February 28, 1943</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>50-55</td><td></td></tr><tr><td>March 31, 1943</td><td></td><td></td><td>52-63</td><td></td><td></td><td></td><td></td><td></td><td>51-56</td><td></td><td></td><td></td></tr><tr><td>April 30, 1943</td><td></td><td></td><td>52-63</td><td></td><td></td><td></td><td></td><td>46-51</td><td></td><td></td><td></td><td></td></tr><tr><td>May 31, 1943</td><td></td><td></td><td>52-63</td><td></td><td></td><td></td><td>47-52</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1943</td><td></td><td></td><td></td><td></td><td></td><td>44-49</td><td></td><td>51-56</td><td></td><td></td><td></td><td></td></tr><tr><td>July 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>August 31, 1943</td><td></td><td></td><td></td><td></td><td>55-60</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>46-51</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1943</td><td></td><td>54-59</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 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>December 31, 1943</td><td>46-51</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revision of classification of insurance company data, quarterly March 31, 1941 through March 31, 1943, and April 30 and May 31, 1943</td><td></td><td></td><td>52-63</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, February 1944
Cumulative Table of Contents - (Continued)
<table><tr><th></th><th colspan="11">Issue and page number</th></tr><tr><th></th><th>1944</th><th colspan="10">1943</th></tr><tr><th></th><th>Feb.</th><th>Jan.</th><th>Dec.</th><th>Nov.</th><th>Oct.</th><th>Sept.</th><th>Aug.</th><th>July</th><th>June</th><th>May</th><th>Apr.</th><th>Mar.</th></tr><tr><td colspan="12">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 month-end preceding month of publication.</td><td>53-55</td><td>54-56</td><td>61-63</td><td>65-67</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></tr><tr><td>Chart showing yield structure of Treasury bonds and notes.</td><td>56</td><td>57</td><td>64</td><td>68</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></tr><tr><td>Average yields of long-term Treasury bonds and high-grade corporate bonds: Discussion of composition of high-grade corporate bond average.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>61</td><td></td></tr><tr><td>Yields beginning with January 1935.</td><td>57-58</td><td>58-59</td><td>65-66</td><td>69-70</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></tr><tr><td colspan="12">VIII. Government corporations and credit agencies of the United States</td></tr><tr><td>Assets and liabilities and proprietary interest:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>61-62</td><td></td></tr><tr><td>January 31, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>65-66</td><td></td></tr><tr><td>February 28, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>60-61</td><td></td><td></td></tr><tr><td>March 31, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>65-66</td><td></td><td></td><td></td></tr><tr><td>April 30, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>61-62</td><td>65-66</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>58-59</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>June 30, 1943.</td><td></td><td></td><td></td><td></td><td>72-73</td><td>69-70</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>July 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>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><tr><td>September 30, 1943.</td><td></td><td>68-69</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>October 31, 1943.</td><td></td><td>61-62</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>November 30, 1943.</td><td>60-61</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 1943.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sources and uses of funds:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fiscal year to date.</td><td>62-63</td><td>63-64</td><td>70-71</td><td>74-75</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></tr><tr><td>From inception of organization.</td><td>64-65</td><td>65-66</td><td>72-73</td><td>76-77</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></tr><tr><td colspan="12">IX. Internal revenue statistics</td></tr><tr><td>Collections of internal revenue:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Summary data.</td><td>67-68</td><td>68-69</td><td>75-76</td><td>79-80</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></tr><tr><td>Comparative details for current periods.</td><td>69</td><td>70</td><td>77</td><td>81</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></tr><tr><td colspan="12">X. Gold and silver statistics</td></tr><tr><td>Gold assets and liabilities of the Treasury.</td><td>71</td><td>72</td><td>79</td><td>83</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></tr><tr><td>Increment from reduction in weight of gold dollar, cumulative to:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>76</td><td></td></tr><tr><td>June 30, 1943.</td><td></td><td></td><td></td><td></td><td>80</td><td></td><td></td><td>76</td><td></td><td></td><td></td><td></td></tr><tr><td>September 30, 1943.</td><td></td><td>72</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, 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>Treasury gold receipts, for recent quarterly periods.</td><td>71</td><td></td><td></td><td>83</td><td></td><td></td><td>72</td><td></td><td></td><td>76</td><td></td><td></td></tr><tr><td>Monetary stocks of gold and silver.</td><td>72</td><td>72</td><td>79</td><td>83</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></tr><tr><td>Components of silver monetary stock.</td><td>72</td><td>73</td><td>80</td><td>84</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></tr><tr><td>Silver of specified classifications acquired by minte and assay offices.</td><td>72</td><td>73</td><td>80</td><td>84</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></tr><tr><td>Silver production:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>In United States.</td><td>72</td><td>73</td><td>80</td><td>84</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></tr><tr><td>In foreign countries.</td><td></td><td></td><td></td><td></td><td></td><td></td><td>74</td><td>78</td><td>73</td><td>78</td><td>78</td><td>74</td></tr><tr><td>Seigniorage on silver, by types.</td><td>73</td><td>74</td><td>81</td><td>85</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></tr><tr><td colspan="12">XI. Other Treasury statistics</td></tr><tr><td>Balance sheet of the Exchange Stabilization Fund:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>80-81</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>80-81</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>84-85</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>76-77</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>Capital movement between the United States and foreign countries.</td><td>75</td><td>78</td><td>83</td><td>87</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></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
A-1
A-2
Treasury Bulletin
Treasury Market Financing
On January 24, the Treasury announced an exchange offering for the $2,211 millions of 7/8 percent certificates of indebtedness maturing February 1, 1944. Holders of the maturing issue were given an opportunity to exchange their holdings into a new issue of Treasury notes. These notes are dated February 1, 1944, and run for 13 months, to March 1, 1945. They bear interest at the rate of 0.90 percent per annum, payable on a semi-annual basis on September 1, 1944 and March 1, 1945. Subscription books were open for three days, January 24-26, inclusive. A total of $2,126 millions of the maturing issue, or 96 percent of the amount out-
standing, was exchanged. The remaining $85 millions of certificates were redeemed in cash.
The maturing certificates were originally issued on February 1, 1943 for the purpose of paying off $1,588 millions of certificates then falling due, and $623 millions of new money was raised in the operation.
On February 1, the Treasury paid off in cash the maturing issue of Federal Public Housing Authority 1-3/8 percent notes, outstanding in the amount of $114 millions.
Preliminary Report on the Fourth War Loan
Preliminary figures on subscriptions to the Fourth War Loan indicate that sales through February 22 aggregated $15.9 billions. This figure includes all sales of marketable securities during the drive, since the books on these issues were closed on February 15. Sales of United States savings bonds and Treasury savings notes continued, however, and all purchases of these securities which have been cleared through the Federal Reserve Banks by the close of business February 24 will be included in the final drive total.
The preliminary sales figure of $15.9 billions may be compared with the goal of $14 billions for the Fourth War Loan. The excess of $1.9 billions of sales over the goal will be increased as later sales reports are received. Final figures for sales in the Fourth far Loan will be analyzed in the March issue of the "Treasury Bulletin".
The following figures classify the preliminary
sales report as of February 22 by issues.
Fourth War Loan Sales Reported Through February 22, 1944
(In millions of dollars)
Nonmarketable leases:
<table><tr><td>Series E Savings bonds</td><td>2,585</td></tr><tr><td>Series F Savings bonds</td><td>180</td></tr><tr><td>Series G Savings bonds</td><td>746</td></tr><tr><td>Series C Savings notes</td><td>2,086</td></tr></table>
Marketable issues:
<table><tr><td>2-1/2 percent Treasury bonds</td><td>1,920</td></tr><tr><td>2-1/4 percent Treasury bonds</td><td>3,331</td></tr><tr><td>7/8 percent Certificate of indebtedness</td><td>5,036</td></tr><tr><td>Total</td><td>15,884</td></tr></table>
1/ Excludes issues purchased outside Fourth War Loan by U. S. Government agencies and trust funds and by commercial banks in connection with the limited investment of their savings deposits.
SUMMARY OF FISCAL STATISTICS
-1-
2
Treasury Bulletin
Budgetary Receipts and Expenditures
(in millions of dollars)
<table><tr><th></th><th colspan="4">First 7 months, fiscal years 1942 to 1944</th><th colspan="6">Complete fiscal years, 1941 to 1945</th></tr><tr><th></th><th>1942</th><th>1943</th><th>1944</th><th>Change 1943 to 1944</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>1941</th><th>1942</th><th>1943</th><th>1944</th><th>1945</th><th>Actual 1943 to estimated 1944 1/</th><th>Estimated 1944 to estimated 1945 1/</th></tr><tr><td>Receipts</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></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>One and profits taxes 2</td><td>1,957</td><td>5,238</td><td>17,114</td><td>+11,876</td><td>3,470</td><td>7,950</td><td>16,094</td><td>32,673</td><td>32,605</td><td>+16,579</td><td>-68</td></tr><tr><td>Employment taxes</td><td>577</td><td>720</td><td>853</td><td>+133</td><td>925</td><td>1,186</td><td>1,498</td><td>1,870</td><td>3,169</td><td>+372</td><td>+1,299</td></tr><tr><td>Miscellaneous internal revenue 3/</td><td>2,270</td><td>2,769</td><td>3,209</td><td>+440</td><td>2,967</td><td>3,847</td><td>4,553</td><td>5,161</td><td>5,164</td><td>+608</td><td>+3</td></tr><tr><td>Customs</td><td>239</td><td>164</td><td>249</td><td>+86</td><td>392</td><td>389</td><td>324</td><td>420</td><td>438</td><td>+96</td><td>+18</td></tr><tr><td>Other receipts 4/</td><td>149</td><td>231</td><td>2,031</td><td>+1,800</td><td>515</td><td>286</td><td>916</td><td>2,455</td><td>2,050</td><td>+1,538</td><td>-405</td></tr><tr><td>Total receipts</td><td>5,193</td><td>9,122</td><td>23,456</td><td>+14,334</td><td>8,269</td><td>13,668</td><td>23,385</td><td>42,578</td><td>43,425</td><td>+19,193</td><td>+847</td></tr><tr><td>Less:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Amounts transferred to Federal Old-Age and Survivors Insurance Trust Fund 5/</td><td>449</td><td>564</td><td>668</td><td>+104</td><td>661</td><td>869</td><td>1,103</td><td>1,392</td><td>2,656</td><td>+289</td><td>+1,264</td></tr><tr><td>Net receipts</td><td>4,744</td><td>8,558</td><td>22,789</td><td>+14,231</td><td>7,607</td><td>12,799</td><td>22,282</td><td>41,186</td><td>40,769</td><td>+18,904</td><td>-417</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>5,817</td><td>24,032</td><td>28,389</td><td>+4,357</td><td>3,678</td><td>14,070</td><td>42,265</td><td>48,790</td><td>47,597</td><td>+5,525</td><td>-1,193</td></tr><tr><td>Navy Department</td><td>3,337</td><td>9,500</td><td>14,065</td><td>+4,565</td><td>2,313</td><td>8,580</td><td>20,888</td><td>27,000</td><td>28,500</td><td>+6,112</td><td>+1,500</td></tr><tr><td>Miscellaneous war activities</td><td>1,215</td><td>4,528</td><td>6,548</td><td>+2,020</td><td>310</td><td>3,362</td><td>8,955</td><td>11,910</td><td>11,453</td><td>+2,955</td><td>-457</td></tr><tr><td>Anticipated supplemental appropriations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>800</td><td>650</td><td>+800</td><td>-150</td></tr><tr><td>Total war activities</td><td>10,369</td><td>38,061</td><td>49,003</td><td>+10,942</td><td>6,301</td><td>26,011</td><td>72,109</td><td>88,500</td><td>58,200</td><td>+16,391</td><td>-300</td></tr><tr><td>Veterans' Administration 7/</td><td>324</td><td>353</td><td>365</td><td>+12</td><td>563</td><td>556</td><td>602</td><td>873</td><td>1,267</td><td>+271</td><td>+393</td></tr><tr><td>Public Works 8/</td><td>425</td><td>349</td><td>286</td><td>-63</td><td>738</td><td>680</td><td>543</td><td>569</td><td>387</td><td>+26</td><td>-182</td></tr><tr><td>Aid to agriculture 9/</td><td>729</td><td>634</td><td>469</td><td>-165</td><td>937 10/</td><td>1,225</td><td>1,163</td><td>891</td><td>647</td><td>-272</td><td>-244</td></tr><tr><td>Social Security program 11/</td><td>441</td><td>524</td><td>568</td><td>+44</td><td>588</td><td>659</td><td>735</td><td>796</td><td>777</td><td>+61</td><td>-19</td></tr><tr><td>Work Projects Administration</td><td>611 12/</td><td>242</td><td>16</td><td>-227</td><td>1,374 12/</td><td>970 12/</td><td>299</td><td>11</td><td>-</td><td>-288</td><td>-11</td></tr><tr><td>Civilian Conservation Corps</td><td>116</td><td>-4</td><td>16</td><td>+3</td><td>257</td><td>163</td><td>18</td><td>1</td><td>-</td><td>-18</td><td>-</td></tr><tr><td>Other 11/</td><td>538</td><td>549</td><td>688</td><td>+139</td><td>841</td><td>873</td><td>901</td><td>1,490</td><td>2,881</td><td>+589</td><td>+1,391</td></tr><tr><td>Interest on the public debt</td><td>557</td><td>771</td><td>1,187</td><td>+415</td><td>1,111</td><td>1,260</td><td>1,508</td><td>2,650</td><td>3,750</td><td>+842</td><td>+1,100</td></tr><tr><td>Anticipated supplemental appropriations</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>170</td><td>45</td><td>+170</td><td>-125</td></tr><tr><td>Total expenditures 6/</td><td>14,111</td><td>41,479</td><td>52,581</td><td>+11,102</td><td>12,711</td><td>32,397</td><td>78,179</td><td>95,951</td><td>97,954</td><td>+17,772</td><td>+2,003</td></tr><tr><td>Net budgetary deficit 6/</td><td>9,367</td><td>32,921</td><td>29,793</td><td>-3,128</td><td>5,103</td><td>19,598</td><td>55,897</td><td>54,765</td><td>57,185</td><td>-1,132</td><td>+2,420</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Less than $500,000.
1/ Based upon estimates as shown in the 1945 Budget.
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 deposits by the War, Navy, and Treasury Departments and the U. S. Maritime Commission resulting from the renegotiation of war contracts. Information on the amount of such deposits is not available on the basis of Daily Treasury Statements. On the basis of covering warrants, such deposits totaled $558 millions during the fiscal year 1943. Budget estimates of such deposits for the fiscal years 1944 and 1945 are $1,212 millions and $1,733 millions, respectively.
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.
8/ Includes Public Works transactions classified as Revolving Funds (net).
9/ Includes Aid to Agriculture transactions classified as Revolving Funds (net); expenditures of the Department of Agriculture classified as Departmental in the Daily Treasury Statement; and Agricultural Marketing Administration transactions classified as transfers to trust accounts, etc.
10/ Represents gross expenditures of $1,252 millions less repayments of U. S. investments in capital funds aggregating $315 millions.
11/ Includes expenditures classified as transfers to true* 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/ Includes National Youth Administration.
13/ Includes departmental expenditures not otherwise classified and expenditures classified as transfers to trust accounts, etc., for Government employee retirement and insurance funds. Budget estimates for 1944 and 1945 include $5 millions and $1,000 millions, respectively, representing transfers to public debt accounts for excess-profits tax refund bonds.
February 1944
3
Public Debt and Guaranteed Obligations Outstanding
(In millions of dollars)
<table><tr><th></th><th colspan="4">End of first 7 months, fiscal years 1942 to 1944</th><th colspan="6">End of fiscal years, 1941 to 1945</th></tr><tr><th></th><th>Jan. 31, 1942</th><th>Jan. 31, 1943</th><th>Jan. 31, 1944</th><th>Change Jan. 31, 1943 to Jan. 31, 1944</th><th colspan="2">Actual</th><th colspan="2">Estimated 1/</th><th colspan="2">Change</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th>June 30, 1941</th><th>June 30, 1942</th><th>June 30, 1943</th><th>June 30, 1944</th><th>June 30, 1945</th><th>Actual June 30, 1943 to estimated June 30, 1944 1/</th><th>Estimated June 30, 1944 to estimated June 30, 1945 1/</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>42,271</td><td>77,496</td><td>115,259</td><td>+37,763</td><td>37,713</td><td>50,573</td><td>95,310</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable.</td><td>10,196</td><td>23,356</td><td>38,911</td><td>+15,556</td><td>4,555</td><td>13,510</td><td>29,200</td><td>3/</td><td>3/</td><td>3/</td><td>3/</td></tr><tr><td>Total public issues.</td><td>52,468</td><td>100,852</td><td>154,170</td><td>+53,319</td><td>42,267</td><td>64,083</td><td>124,509</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Special issues.</td><td>7,063</td><td>9,172</td><td>12,873</td><td>+3,700</td><td>6,120</td><td>7,885</td><td>10,871</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt.</td><td>59,531</td><td>110,024</td><td>167,043</td><td>+57,019</td><td>48,387</td><td>71,968</td><td>135,380</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>461</td><td>1,045</td><td>3,616</td><td>+2,570</td><td>574</td><td>454</td><td>1,316</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total public debt outstanding.</td><td>60,012</td><td>111,069</td><td>170,659</td><td>+59,589</td><td>48,961</td><td>72,422</td><td>136,696</td><td>197,600</td><td>258,000</td><td>+60,904</td><td>+60,400</td></tr><tr><td>Securities guaranteed by the United States 4/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable.</td><td>5,673</td><td>4,196</td><td>4,078</td><td>-118</td><td>6,360</td><td>4,549</td><td>4,023</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Non-marketable.</td><td>-</td><td>81</td><td>191</td><td>+110</td><td>-</td><td>-</td><td>68</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total interest-bearing debt.</td><td>5,673</td><td>4,277</td><td>4,269</td><td>-8</td><td>6,360</td><td>4,549</td><td>4,092</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Matured debt.</td><td>33</td><td>14</td><td>6</td><td>-9</td><td>11</td><td>20</td><td>8</td><td>2/</td><td>2/</td><td>2/</td><td>2/</td></tr><tr><td>Total guaranteed securities outstanding.</td><td>5,705</td><td>4,291</td><td>4,275</td><td>-17</td><td>6,370</td><td>4,568</td><td>4,100</td><td>1,201</td><td>48</td><td>-2,899</td><td>-1,153</td></tr><tr><td>Total public debt and guaranteed securities outstanding.</td><td>65,717</td><td>115,361</td><td>174,933</td><td>+59,573</td><td>55,332</td><td>76,991</td><td>140,796</td><td>198,801</td><td>258,048</td><td>+58,005</td><td>+59,247</td></tr></table>
Source: Daily Treasury Statements, except as noted.
1/ Based upon estimates as shown in the 1945 Budget.
2/ Details not available.
3/ Includes prepayments in the amount of $2,193 millions on securi-
ties dated February 1, 1944 and offered as part of the Fourth War Loan. 4/ Excludee 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 7 months, fiscal years 1942 to 1944</th><th colspan="5">Complete fiscal years. 1941 to 1945</th></tr><tr><th>1942</th><th>1943</th><th>1944</th><th colspan="3">Actual</th><th colspan="2">Estimated 1/</th></tr><tr><th></th><th></th><th></th><th></th><th>1941</th><th>1942</th><th>1943</th><th>1944</th><th>1945</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>9,367</td><td>32,921</td><td>29,793</td><td>5,103</td><td>19,598</td><td>55,897</td><td>54,765</td><td>57,185</td></tr><tr><td>Net increase in General Fund balance....</td><td>317</td><td>4,732</td><td>2,732</td><td>742</td><td>358</td><td>6,515</td><td>46</td><td>101</td></tr><tr><td>Net expenditures in trust accounts, increment on gold, etc. 3/</td><td>1,366</td><td>993</td><td>1,438</td><td>148</td><td>3,506</td><td>1,861</td><td>6,093</td><td>3,114</td></tr><tr><td>Total amount required to be financed....</td><td>11,050</td><td>38,647</td><td>33,963</td><td>5,994</td><td>23,461</td><td>64,274</td><td>60,904</td><td>60,400</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>11,050</td><td>38,647</td><td>33,963</td><td>5,994</td><td>23,461</td><td>64,274</td><td>60,904</td><td>60,400</td></tr><tr><td>Net decrease in General Fund balance....</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Net receipts in trust accounts, increment on gold, etc. 3/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Total amount financed</td><td>11,050</td><td>38,647</td><td>33,963</td><td>5,994</td><td>23,461</td><td>64,274</td><td>60,904</td><td>60,400</td></tr></table>
Source: Daily Treasury Statements, except as noted. 1/ Based upon estimates as shown in the 1945 Budget. 2/ Excludes amounts for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
3/ Comprises trust accounts, checking accounts of Government agencies etc., increment on gold, seigniorage on silver, and miscellaneous funds and accounts. Increment on gold excludes expenditures for national bank note retirements.
RECEIPTS AND EXPENDITURES AND APPROPRIATIONS
February 1944
5
Appropriations and Net Contract Authorizations for the War Activities Program
As of January 31, 1944
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorizations 2/</th></tr><tr><td colspan="5">76th Congress, Third Session</td></tr><tr><td>Mar. 25, 1940</td><td>442</td><td>Treasury Department Appropriation Act, 1941</td><td>$ 53,965,035</td><td>-</td></tr><tr><td>Apr. 18, 1940</td><td>459</td><td>Independent Offices Appropriation Act, 1941</td><td>149,500,000</td><td>-</td></tr><tr><td>May 14, 1940</td><td>508</td><td>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 3/</td><td>Emergency Relief Appropriation Act, 1941 (refugee relief)</td><td>50,000,000</td><td>-</td></tr><tr><td>June 27, 1940</td><td>668</td><td>Second Deficiency Appropriation Act, 1940</td><td>17,656,900</td><td>-</td></tr><tr><td>July 18, 1940</td><td>94 3/</td><td>Public Resolution (War Risk Insurance Fund)</td><td>40,000,000</td><td>-</td></tr><tr><td>Sept. 9, 1940</td><td>781</td><td>Second Supplemental National Defense Appropriation Act, 1941</td><td>2,497,016,392</td><td>-</td></tr><tr><td>Sept.24, 1940</td><td>99 3/</td><td>Public Resolution (War Department - military posts and acquisition of land)</td><td>338,263,902</td><td>-</td></tr><tr><td>Oct. 8, 1940</td><td>800</td><td>Third Supplemental National Defense Appropriation Act, 1941</td><td>1,323,414,082</td><td>-</td></tr><tr><td>Oct. 9, 1940</td><td>812</td><td>First Supplemental Civil Functions Appropriation Act, 1941</td><td>148,821,000</td><td>-</td></tr><tr><td>Oct. 14, 1940</td><td>106 3/</td><td>Public Resolution (national defense housing)</td><td>75,000,000</td><td>-</td></tr><tr><td colspan="3">Total, 76th Congress, Third Session</td><td>$ 8,994,015,828</td><td>-</td></tr></table>
77th Congress, First Session
<table><tr><td>Feb. 6, 1941</td><td>5</td><td>Joint Resolution (emergency ship construction)</td><td>$ 313,500,000</td><td>-</td></tr><tr><td>Feb. 13, 1941</td><td>6</td><td>Joint Resolution (clothing and equipage - War Department)</td><td>175,000,000</td><td>-</td></tr><tr><td>Mar. 1, 1941</td><td>9</td><td>Urgent Deficiency Appropriation Act, 1941</td><td>6,047,775</td><td>-</td></tr><tr><td>Mar. 17, 1941</td><td>13</td><td>Fourth Supplemental National Defense Appropriation Act, 1941</td><td>1,376,464,602</td><td>-</td></tr><tr><td>Mar. 27, 1941</td><td>23</td><td>Defense Aid Supplemental Appropriation Act, 1941</td><td>7,000,000,000</td><td>-</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>43</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>10,384,821,624</td><td>-</td></tr><tr><td>July 1, 1941</td><td>146</td><td>Labor - Federal Security Appropriation Act, 1942</td><td>173,168,500</td><td>-</td></tr><tr><td>July 3, 1941</td><td>150</td><td>Second Deficiency Appropriation Act, 1941</td><td>998,894,561</td><td>-</td></tr><tr><td>Aug. 25, 1941</td><td>247</td><td>First Supplemental National Defense Appropriation Act, 1942</td><td>6,580,012,448</td><td>-</td></tr><tr><td>Oct. 28, 1941</td><td>282</td><td>Second Supplemental National Defense Appropriation Act, 1942: (Title I) (Title II)</td><td>5,985,000,000 159,005,585</td><td>$ 600,000,000 47,000,000</td></tr><tr><td>Nov. 19, 1941</td><td>295</td><td>Defense Highway Act of 1941</td><td>-</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>9,112,021,947</td><td>-</td></tr><tr><td>Dec. 23, 1941</td><td>371</td><td>Joint Resolution (War, Philippine relief, and defense housing)</td><td>510,000,000</td><td>-</td></tr><tr><td colspan="3">Total, 77th Congress, First Session</td><td>$ 49,396,437,450</td><td>$ 707,000,000</td></tr></table>
77th Congress, Second Session
<table><tr><td>Jan. 30, 1942</td><td>422</td><td>Fourth Supplemental National Defense Appropriation Act, 1942.</td><td>$ 12,525,872,474</td><td>-</td></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>Naval Appropriation Act, 1943 5/.</td><td>23,738,865,474</td><td>$ 2,400,000,000 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>-</td></tr><tr><td>Apr. 28, 1942</td><td>527</td><td>War Department Civil Appropriation Act, 1943.</td><td>57,886,985</td><td>-</td></tr><tr><td>Apr. 28, 1942</td><td>528</td><td>Sixth Supplemental National Defense Appropriation Act, 1942.</td><td>18,932,124,093</td><td>40,400,000</td></tr><tr><td>June 5, 1942</td><td>572</td><td>Joint Resolution (War Risk Insurance Fund).</td><td>210,000,000</td><td>-</td></tr><tr><td>June 19, 1942</td><td>616</td><td>Joint Resolution (education and training).</td><td>9,500,000</td><td>-</td></tr><tr><td>June 23, 1942</td><td>626</td><td>Seventh Supplemental National Defense Appropriation Act, 1942 7/.</td><td>655,074,740</td><td>150,000,000</td></tr><tr><td>June 27, 1942</td><td>630</td><td>Independent Offices Appropriation Act, 1943.</td><td>1,052,812,004</td><td>-</td></tr><tr><td>July 2, 1942</td><td>644</td><td>Justice, State and Commerce Departments Appropriation Act, 1943.</td><td>261,908,180</td><td>-</td></tr><tr><td>July 2, 1942</td><td>645</td><td>Interior Department Appropriation Act, 1943.</td><td>8,977,370</td><td>-</td></tr><tr><td>July 2, 1942</td><td>646</td><td>Public Law (Federal Works Agency - public roads).</td><td>-</td><td>35,000,000</td></tr><tr><td>July 2, 1942</td><td>647</td><td>Labor - Federal Security Appropriation Act, 1943.</td><td>227,726,864</td><td>-</td></tr><tr><td>July 2, 1942</td><td>648</td><td>Second Deficiency Appropriation Act, 1942.</td><td>10,415,078</td><td>-</td></tr><tr><td>July 2, 1942</td><td>649</td><td>Military Appropriation Act, 1943.</td><td>42,820,003,067</td><td>-</td></tr><tr><td>July 2, 1942</td><td>650</td><td>War Housing and Public Works Appropriation Act, 1942.</td><td>32,500,000</td><td>-</td></tr><tr><td>July 25, 1942</td><td>678</td><td>First Supplemental National Defense Appropriation Act, 1943.</td><td>1,845,234,990</td><td>-</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>Second Supplemental National Defense Appropriation Act, 1943 8/.</td><td>6,299,361,448</td><td>7,804,518,782 6/</td></tr><tr><td colspan="3">Total. 77th Congress, Second Session.</td><td>$139,736,203,988</td><td>$10,429,918,782</td></tr></table>
(Continued on following page)
6
Treasury Bulletin
Appropriations and Net Contract Authorizations for the War Activities Program
As of January 31, 1944 - (Continued)
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Title of act</th><th>Appropriations</th><th>Net contract authorizations 2/</th></tr><tr><td colspan="5">78th Congress, First Session</td></tr><tr><td>Mar. 2, 1943</td><td>3</td><td>Joint Resolution (Selective Service System)</td><td>$ 21,160,000</td><td>-</td></tr><tr><td>Mar. 15, 1943</td><td>11</td><td>First Deficiency Appropriation Act, 1943</td><td>4,063,948,984</td><td>$ 2,093,111,745</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 (farms 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>1,457,868</td><td>-</td></tr><tr><td>June 14, 1943</td><td>70</td><td>Defense Aid Supplemental Appropriation Act, 1943</td><td>6,273,629,000</td><td>-</td></tr><tr><td>June 26, 1943</td><td>90</td><td>Independent Offices Appropriation Act, 1944</td><td>1,395,013,569</td><td>-</td></tr><tr><td>June 26, 1943</td><td>92</td><td>Naval Appropriation Act, 1944</td><td>27,637,226,198 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>151,440,088</td><td>-</td></tr><tr><td>Oct. 1, 1943</td><td>156</td><td>Joint Resolution (Labor Department)</td><td>18,620,000</td><td>-</td></tr><tr><td>Dec. 17, 1943</td><td>204</td><td>Public Law (naval expansion program)</td><td>-</td><td>3,650,449,880 6/</td></tr><tr><td>Dec. 23, 1943</td><td>216</td><td>First Supplemental National Defense Appropriation Act, 1944</td><td>81,283,468</td><td>-</td></tr><tr><td></td><td></td><td>Total, 78th Congress, First Session</td><td>$105,916,492,321</td><td>$11,200,561,625</td></tr><tr><td colspan="5">78th Congress, Second Session</td></tr><tr><td>Jan. 28, 1944</td><td>224</td><td>Public Law (Navy - Public Works)</td><td>-</td><td>$ 281,060,000</td></tr><tr><td></td><td></td><td>Pending 10/</td><td></td><td></td></tr><tr><td></td><td></td><td>Independent Offices Appropriation Act, 1945</td><td>$ 6,850,304,447 11/</td><td>$-1,101,000,000 12/</td></tr><tr><td colspan="5">Summary</td></tr><tr><td></td><td></td><td>Total, 76th Congress, Third Session</td><td>$ 8,994,015,828</td><td>-</td></tr><tr><td></td><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></td><td>Total, 77th Congress, Second Session</td><td>139,736,203,988</td><td>10,429,918,782</td></tr><tr><td></td><td></td><td>Total, 78th Congress, First Session</td><td>105,916,492,321</td><td>11,200,561,625</td></tr><tr><td></td><td></td><td>Total, 78th Congress, Second Session</td><td>-</td><td>281,060,000</td></tr><tr><td></td><td></td><td>Permanent appropriations and net transfers from other than war activities appropriations 13/</td><td>113,212,387</td><td>-</td></tr><tr><td></td><td></td><td>Total approved</td><td>$304,156,361,974</td><td>$22,618,540,407</td></tr><tr><td></td><td></td><td>Total pending, 78th Congress, Second Session</td><td>6,850,304,447</td><td>-1,101,000,000</td></tr><tr><td></td><td></td><td>Liquidations of 1940 and prior contract authorizations</td><td>-467,872,846</td><td>-</td></tr><tr><td></td><td></td><td>Total approved and pending appropriations and net contract authorizations 1/</td><td>$310,538,793,575</td><td>$21,517,540,407</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 affiliates 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. Public resolution number.
2. 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 $9,693,525,500 appropriated for the fiscal year 1942. Unappropriated contract authorizations for the naval expansion program are as follows:
<table><tr><th>Date approved</th><th>Public Law No.</th><th>Amount</th></tr><tr><td>Feb. 7, 1942</td><td>441</td><td>$ 2,400,000,000</td></tr><tr><td>Oct. 26, 1942</td><td>763</td><td>(Estimated by Navy Department).... 7,804,518,782</td></tr><tr><td>June 26, 1943</td><td>92</td><td>(Estimated by Navy Department).... 3,389,000,000</td></tr><tr><td>Dec. 17, 1943</td><td>204</td><td>(Estimated by Navy Department).... 3,650,449,880</td></tr><tr><td></td><td></td><td>Total.................... $17,243,968,662</td></tr></table>
1/ Includes $650,000 for the fiscal year 1941 and $209,440,000 for the fiscal year 1943, of which $440,000 was made immediately available.
8/ Includes $7,851,460 appropriated for the fiscal year 1942.
9/ Includes $30,000,000 for the fiscal year 1942 and $172,439,000 for the fiscal year 1943.
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. Estimates of appropriations and contract authorizations for war purposes reported by the President to Congress and submitted to the Committee on Appropriations, amounting to $53,777,125,640, are not included.
11/ Includes $4,730,390,499 for liquidation of contract authorizations made available in this act and $2,070,609,501 for liquidation of prior contract authorizations.
12/ Represents excess of pending liquidations of contract authorizations over contract authorizations provided in this bill.
13/ Includes act al 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 $4,242,972 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 $4,902,536.
February 1944
7
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="5">Receipts</th><th colspan="6">Expenditures 1/</th><th rowspan="2">Net budgetary deficit 1/</th><th rowspan="2">Public debt retirements 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 ac-tivities 5/</th><th>Revolving funds (net) 6/</th><th>Transfers to trust accounts, etc. 6/</th></tr><tr><td>1934</td><td>3,116</td><td>2,641</td><td>313</td><td>162</td><td>-</td><td>3,116</td><td>6,011</td><td>4,908</td><td>531</td><td>496</td><td>77</td><td>2,896</td><td>360</td></tr><tr><td>1935</td><td>3,800</td><td>3,278</td><td>343</td><td>179</td><td>-</td><td>3,800</td><td>7,010</td><td>5,900</td><td>689</td><td>345</td><td>76</td><td>3,209</td><td>574</td></tr><tr><td>1936</td><td>4,116</td><td>3,513</td><td>387</td><td>216</td><td>-</td><td>4,116</td><td>8,666</td><td>5,935</td><td>900</td><td>11</td><td>1,820</td><td>4,550</td><td>403</td></tr><tr><td>1937</td><td>5,294</td><td>4,597</td><td>486</td><td>210</td><td>265</td><td>5,029</td><td>8,177</td><td>5,437</td><td>929</td><td>204</td><td>508</td><td>3,149</td><td>104</td></tr><tr><td>1938</td><td>6,242</td><td>5,674</td><td>359</td><td>208</td><td>387</td><td>5,855</td><td>7,239</td><td>5,864</td><td>1,029</td><td>121</td><td>225</td><td>1,384</td><td>55</td></tr><tr><td>1939</td><td>5,668</td><td>5,161</td><td>319</td><td>188</td><td>503</td><td>5,165</td><td>8,707</td><td>7,221</td><td>1,206</td><td>92</td><td>187</td><td>3,542</td><td>58</td></tr><tr><td>1940</td><td>5,925</td><td>5,303</td><td>349</td><td>273 9/</td><td>538</td><td>5,387</td><td>8,998</td><td>7,055</td><td>1,657</td><td>54</td><td>232</td><td>3,511</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>5,301</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>12,933</td><td>389</td><td>286 9/</td><td>869</td><td>12,799</td><td>32,397</td><td>5,986</td><td>26,011</td><td>18</td><td>381</td><td>19,598</td><td>95</td></tr><tr><td>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>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>5,104</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><tr><td>October</td><td>2,069</td><td>1,813</td><td>38</td><td>218</td><td>39</td><td>2,030</td><td>7,456</td><td>438</td><td>6,989</td><td>-7</td><td>36</td><td>5,426</td><td>-</td></tr><tr><td>November</td><td>2,370</td><td>2,115</td><td>34</td><td>221</td><td>271</td><td>2,099</td><td>7,839</td><td>304</td><td>7,541</td><td>-8</td><td>2</td><td>5,740</td><td>-</td></tr><tr><td>December</td><td>5,737</td><td>5,484</td><td>34</td><td>220</td><td>1</td><td>5,736</td><td>7,452</td><td>740</td><td>6,718</td><td>-8</td><td>2</td><td>1,716</td><td>-</td></tr><tr><td>1944-January</td><td>2,779</td><td>2,188</td><td>40</td><td>551</td><td>32</td><td>2,747</td><td>7,570</td><td>400</td><td>7,138</td><td>-6</td><td>37</td><td>4,823</td><td>*</td></tr></table>
Source: Daily Treasury Statements.
Less than $500,000
1/ Excludee 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.
For explanation see tables which follow on the Social Security program.
For further details, see Table 3.
5/ For further details, see Table 4.
6/ For further details, see Table 5. Also see footnoted 3/ and 4/.
Total expenditures less net receipts
8 Represents expenditures for public debt retirements which are chargeable to the sinking fund, etc. under special provisions of law.
2/ 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.
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 deposits by the War and Navy Departments and the U. S. Maritime Commission as a result of renegotiation of war contracts. On the basis of warrants issued, such amounts totaled $558 millions.
Table 2.- Analysis of Receipts from Internal Revenue
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="3">Income and profit taxes</th><th colspan="4">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/</th><th>Carriers' Taxing Act of 1937 (Railroad retirement)</th></tr><tr><th></th><th colspan="3"></th><th colspan="2">Federal Insurance Contributions Act (Old-age insurance)</th><th>Federal Unemployment Tax Act (Unemployment insurance)</th><th></th><th></th><th></th></tr><tr><td>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>194</td><td>58</td><td>-</td><td>2,181</td><td>-</td></tr><tr><td>1938</td><td>5,674</td><td>2,640</td><td>-</td><td>2,640</td><td>514</td><td>90</td><td>150</td><td>2,279</td><td>-</td></tr><tr><td>1939</td><td>5,161</td><td>2,189</td><td>-</td><td>2,189</td><td>530</td><td>101</td><td>109</td><td>2,232</td><td>-</td></tr><tr><td>1940</td><td>5,303</td><td>2,125</td><td>-</td><td>2,125</td><td>604</td><td>108</td><td>121</td><td>2,345</td><td>-</td></tr><tr><td>1941</td><td>7,362</td><td>3,470</td><td>-</td><td>3,470</td><td>691</td><td>98</td><td>137</td><td>2,967</td><td>-</td></tr><tr><td>1942</td><td>12,933</td><td>7,960</td><td>-</td><td>7,960</td><td>896</td><td>120</td><td>170</td><td>3,847</td><td>-</td></tr><tr><td>1943</td><td>22,144</td><td>16,094</td><td>-</td><td>16,094</td><td>1,130</td><td>158</td><td>209</td><td>4,553</td><td>-</td></tr><tr><td>1943-January</td><td>724</td><td>306</td><td>-</td><td>306</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>237</td><td>99</td><td>7</td><td>352</td><td>-</td></tr><tr><td>March</td><td>5,154</td><td>4,732</td><td>-</td><td>4,732</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>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>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>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>512</td><td>-</td></tr><tr><td>August</td><td>2,602</td><td>1,504</td><td>548</td><td>1,016</td><td>310</td><td>287</td><td>8</td><td>729</td><td>1</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>344</td><td>-</td></tr><tr><td>October</td><td>1,813</td><td>1,303</td><td>557</td><td>746</td><td>46</td><td>42</td><td>3</td><td>464</td><td>-</td></tr><tr><td>November</td><td>2,115</td><td>1,459</td><td>1,010</td><td>449</td><td>292</td><td>274</td><td>10</td><td>363</td><td>-</td></tr><tr><td>December</td><td>5,484</td><td>5,040</td><td>713</td><td>4,327</td><td>58</td><td>4</td><td>1</td><td>386</td><td>-</td></tr><tr><td>1944-January</td><td>2,188</td><td>1,727</td><td>574</td><td>1,153</td><td>49</td><td>34</td><td>14</td><td>412</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.
For the period prior to September 1939, the data in the columns entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
8
Treasury Bulletin
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>Work Projects Administration and National Youth Administration 6/</th><th>Federal Emergency Relief Administration and Civil Works Administration 7/</th><th></th><th></th><th></th><th></th></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>646</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>1943-January</td><td>391</td><td>47</td><td>36</td><td>111</td><td>66</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>501</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><tr><td>October</td><td>438</td><td>49</td><td>43</td><td>87</td><td>57</td><td>2</td><td>-</td><td>-</td><td>131</td><td>56</td><td>12</td></tr><tr><td>November</td><td>304</td><td>50</td><td>26</td><td>67 r</td><td>41</td><td>1</td><td>-</td><td>-</td><td>47</td><td>55 r</td><td>15</td></tr><tr><td>December</td><td>740</td><td>51</td><td>43</td><td>55</td><td>25</td><td>-</td><td>-</td><td>-</td><td>497</td><td>61</td><td>10</td></tr><tr><td>1944-January</td><td>400</td><td>52</td><td>37</td><td>86</td><td>59</td><td>6</td><td>-</td><td>-</td><td>87</td><td>58</td><td>14</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
r Revised.
1/ Includes public works undertaken by the Veterans' Administration.
2/ Does not include expenditures for (1) revolving funds or (2) transfer to trust accounts, etc. These are shown in Table 5.
3/ Includes public buildings, public highways (including forest roads and trails), river and harbor work and flood control, Tennessee Valley Authority, Federal Public Housing Authority (formerly U. S. Housing Authority), reclamation projects and the Public Works Administration. Excludes certain expenditures for public works in connection with war activities by the Federal Works Agency, beginning July 1941.
4/ Corrissie Agricultural Conservation and Adjustment Administration (classified to the Daily Treasury Statement under "War Food Administration, Other" commencing October 1943), Agricultural Marketing Administration, Commodity Credit Corporation, Farm Credit Administration, Federal Farm Mortgage Corporation, Federal land banks, Farm Security Administration, Farm Tenant Act, Rural Electrification Administration, and Department of Agriculture departmental expenditures.
5/ Includes railroad retirement and railroad unemployment activities and excludes expenditures made by Office for Emergency Management.
War Manpower Commission (U. S. Employment Service) under authority of Social Security Act. For further details, see tables which follow on the Social Security program.
6/ Work Projects Administration was formerly Works Progress Administra-tion. 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 Corpora-tion, Federal home loan banks, and Disaster Loan Corporation.
10/ Grose 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/.
February 1944
9
Budgetary Receipts and Expenditures - (Continued)
Table 4.- Analysis of Expenditure for War Activities
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total</th><th>War Department</th><th>Marine 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 1/</th><th>Selective Service (administrative)</th><th>Treasury Department</th><th>United States Maritime Commission 2/</th><th>War Shipping Administration</th><th>Aid to China</th><th>Other war activities expenditures 3/</th></tr><tr><td>1934</td><td>531</td><td>243</td><td>297</td><td>-10</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-10</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>689</td><td>273</td><td>436</td><td>-21</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-21</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>900</td><td>383</td><td>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>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>99</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1941</td><td>6,301</td><td>3,678</td><td>2,313</td><td>310</td><td>3</td><td>62</td><td>-</td><td>45</td><td>18</td><td>24</td><td>51</td><td>-</td><td>-</td><td>108</td></tr><tr><td>1942</td><td>26,011</td><td>14,070</td><td>8,580</td><td>3,362</td><td>696</td><td>111</td><td>62</td><td>297</td><td>33</td><td>519</td><td>929</td><td>132</td><td>200</td><td>382</td></tr><tr><td>1943</td><td>72,109</td><td>42,265</td><td>20,888</td><td>8,955</td><td>2,011</td><td>153</td><td>215</td><td>608</td><td>52</td><td>1,201</td><td>2,776</td><td>1,105</td><td>40</td><td>795</td></tr><tr><td>1943-January</td><td>5,947</td><td>4,053</td><td>1,274</td><td>620</td><td>18</td><td>17</td><td>17</td><td>44</td><td>3</td><td>95</td><td>331</td><td>77</td><td>-</td><td>18</td></tr><tr><td>February</td><td>5,770</td><td>3,239</td><td>2,002</td><td>528</td><td>12</td><td>12</td><td>12</td><td>39</td><td>5</td><td>79</td><td>223</td><td>68</td><td>20</td><td>59</td></tr><tr><td>March</td><td>6,744</td><td>3,985</td><td>2,053</td><td>705</td><td>17</td><td>17</td><td>17</td><td>55</td><td>5</td><td>103</td><td>285</td><td>103</td><td>20</td><td>98</td></tr><tr><td>April</td><td>6,974</td><td>3,727</td><td>2,102</td><td>1,145</td><td>514</td><td>21</td><td>15</td><td>61</td><td>6</td><td>120</td><td>248</td><td>69</td><td>-</td><td>92</td></tr><tr><td>May</td><td>7,092</td><td>3,857</td><td>2,251</td><td>984</td><td>382</td><td>11</td><td>26</td><td>77</td><td>5</td><td>106</td><td>243</td><td>85</td><td>-</td><td>51</td></tr><tr><td>June</td><td>7,469</td><td>3,424</td><td>2,980</td><td>1,065</td><td>318</td><td>4</td><td>33</td><td>70</td><td>5</td><td>117</td><td>315</td><td>116</td><td>-</td><td>86</td></tr><tr><td>July</td><td>6,432</td><td>3,808</td><td>1,898</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><tr><td>October</td><td>6,989</td><td>4,142</td><td>1,955</td><td>892</td><td>176</td><td>24</td><td>25</td><td>54</td><td>5</td><td>100</td><td>294</td><td>148</td><td>-</td><td>66</td></tr><tr><td>November</td><td>7,541</td><td>4,173</td><td>2,134</td><td>1,235</td><td>332</td><td>14</td><td>19</td><td>44</td><td>5</td><td>111</td><td>402</td><td>216</td><td>-</td><td>91</td></tr><tr><td>December</td><td>6,718</td><td>3,841</td><td>2,050</td><td>827</td><td>45</td><td>6</td><td>21</td><td>39</td><td>5</td><td>108</td><td>356</td><td>164</td><td>-</td><td>82</td></tr><tr><td>1944-January</td><td>7,138</td><td>4,170</td><td>2,082</td><td>886</td><td>140</td><td>9</td><td>18</td><td>42</td><td>4</td><td>125</td><td>308</td><td>153</td><td>-</td><td>87</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 Office 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 rowspan="2">Fiscal year or month</th><th colspan="3">Revolving funds (net) 1/</th><th colspan="6">Transfers to trust accounts, etc.</th></tr><tr><th>Total</th><th>Aid to agriculture 2/</th><th>Public works 3/</th><th>Total</th><th>Veterans' administration 4/</th><th>Social Security program 5/</th><th>Government employee retirement fund (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>2</td></tr><tr><td>1936</td><td>11</td><td>-33</td><td>44</td><td>1,820</td><td>1,773</td><td>-</td><td>41</td><td>-</td><td>6</td></tr><tr><td>1937</td><td>204</td><td>-18</td><td>221</td><td>608</td><td>557</td><td>-</td><td>47</td><td>-</td><td>5</td></tr><tr><td>1938</td><td>121</td><td>-13</td><td>134</td><td>225</td><td>-</td><td>146</td><td>73</td><td>-</td><td>5</td></tr><tr><td>1939</td><td>92</td><td>-8</td><td>101</td><td>187</td><td>-</td><td>107</td><td>75</td><td>*</td><td>5</td></tr><tr><td>1940</td><td>54</td><td>-6</td><td>59</td><td>232</td><td>-</td><td>121</td><td>87</td><td>18</td><td>6</td></tr><tr><td>1941</td><td>-136</td><td>-159 7/</td><td>23</td><td>331</td><td>10</td><td>132</td><td>93</td><td>91</td><td>6</td></tr><tr><td>1942</td><td>18</td><td>7</td><td>11</td><td>381</td><td>1</td><td>145</td><td>103</td><td>126</td><td>6</td></tr><tr><td>1943</td><td>40</td><td>41</td><td>-1</td><td>435</td><td>30</td><td>221</td><td>107</td><td>71</td><td>6</td></tr><tr><td>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>-</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><tr><td>October</td><td>-7</td><td>-7</td><td>*</td><td>36</td><td>3</td><td>34</td><td>-</td><td>-</td><td>-</td></tr><tr><td>November</td><td>-8</td><td>-8</td><td>*</td><td>2</td><td>4</td><td>-</td><td>-</td><td>-2</td><td>-</td></tr><tr><td>December</td><td>-8</td><td>-8</td><td>*</td><td>2</td><td>2</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1944-January</td><td>-6</td><td>-5</td><td>-1</td><td>37</td><td>3</td><td>34</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). 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.
Treasury Bulletin
10
Budgetary Receipts and Expenditures - (Continued)
Table 6.- Totals by Months, Beginning with 1935
(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>1935</td><td>203</td><td>214</td><td>601</td><td>228</td><td>246</td><td>464</td><td>279</td><td>299</td><td>421</td><td>235</td><td>234</td><td>434</td><td>3,857</td></tr><tr><td>1936</td><td>228</td><td>218</td><td>752</td><td>231</td><td>256</td><td>529</td><td>294</td><td>343</td><td>499</td><td>272</td><td>233</td><td>517</td><td>4,372</td></tr><tr><td>1937</td><td>239</td><td>230</td><td>367</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>394</td><td>521</td><td>4,918</td></tr><tr><td>1940</td><td>315</td><td>344</td><td>799</td><td>304</td><td>400</td><td>649</td><td>331</td><td>447</td><td>711</td><td>333</td><td>362</td><td>740</td><td>5,834</td></tr><tr><td>1941</td><td>340</td><td>541</td><td>1,566</td><td>565</td><td>394</td><td>1,276</td><td>413</td><td>397</td><td>1,135</td><td>445</td><td>504</td><td>1,212</td><td>8,849</td></tr><tr><td>1942</td><td>578</td><td>758</td><td>3,547</td><td>695</td><td>563</td><td>2,492</td><td>747</td><td>587</td><td>2,527</td><td>607</td><td>601</td><td>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>2,030</td><td>2,099</td><td>5,736</td><td>34,554</td></tr><tr><td>1944</td><td>2,747</td><td></td><td></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">Budgetary expenditures 2/</td></tr><tr><td>1935</td><td>482</td><td>528</td><td>570</td><td>599</td><td>527</td><td>693</td><td>561</td><td>424</td><td>570</td><td>632</td><td>489</td><td>607</td><td>6,682</td></tr><tr><td>1936</td><td>521</td><td>480</td><td>636</td><td>631</td><td>686</td><td>2,427</td><td>656</td><td>574</td><td>676</td><td>677</td><td>564</td><td>716</td><td>9,244</td></tr><tr><td>1937</td><td>539</td><td>546</td><td>766</td><td>695</td><td>514</td><td>1,253</td><td>635</td><td>517</td><td>632</td><td>565</td><td>457</td><td>635</td><td>7,754</td></tr><tr><td>1938</td><td>492</td><td>474</td><td>705</td><td>631</td><td>566</td><td>930</td><td>725</td><td>645</td><td>718</td><td>737</td><td>646</td><td>830</td><td>8,097</td></tr><tr><td>1939</td><td>656</td><td>612</td><td>820</td><td>730</td><td>694</td><td>895</td><td>764</td><td>774</td><td>741</td><td>721</td><td>648</td><td>832</td><td>8,885</td></tr><tr><td>1940</td><td>712</td><td>668</td><td>822</td><td>783</td><td>647</td><td>887</td><td>818</td><td>706</td><td>759</td><td>869</td><td>817</td><td>1,172</td><td>9,657</td></tr><tr><td>1941</td><td>1,111</td><td>1,075</td><td>1,399</td><td>1,315</td><td>1,141</td><td>1,528</td><td>1,598</td><td>1,529</td><td>1,874</td><td>2,083</td><td>1,858</td><td>2,542</td><td>19,053</td></tr><tr><td>1942</td><td>2,628</td><td>2,629</td><td>3,421</td><td>3,753</td><td>3,953</td><td>4,530</td><td>5,160</td><td>5,215</td><td>5,931</td><td>5,937</td><td>6,363</td><td>6,500</td><td>56,020</td></tr><tr><td>1943</td><td>6,372</td><td>6,119</td><td>7,354</td><td>7,466</td><td>7,435</td><td>8,327</td><td>7,112</td><td>7,617</td><td>7,535</td><td>7,456</td><td>7,839</td><td>7,452</td><td>88,084</td></tr><tr><td>1944</td><td>7,570</td><td></td><td></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">Net budgetary deficit 3/</td></tr><tr><td>1935</td><td>279</td><td>314</td><td>-31</td><td>371</td><td>281</td><td>230</td><td>282</td><td>125</td><td>149</td><td>397</td><td>255</td><td>173</td><td>2,825</td></tr><tr><td>1936</td><td>293</td><td>262</td><td>-116</td><td>400</td><td>430</td><td>1,898</td><td>362</td><td>231</td><td>177</td><td>405</td><td>331</td><td>199</td><td>4,872</td></tr><tr><td>1937</td><td>300</td><td>316</td><td>-200</td><td>377</td><td>224</td><td>425</td><td>268</td><td>105</td><td>-115</td><td>273</td><td>171</td><td>-188</td><td>1,956</td></tr><tr><td>1938</td><td>198</td><td>166</td><td>-212</td><td>369</td><td>193</td><td>156</td><td>451</td><td>195</td><td>40</td><td>437</td><td>296</td><td>157</td><td>2,447</td></tr><tr><td>1939</td><td>385</td><td>245</td><td>132</td><td>517</td><td>348</td><td>339</td><td>499</td><td>402</td><td>65</td><td>442</td><td>284</td><td>311</td><td>3,967</td></tr><tr><td>1940</td><td>398</td><td>224</td><td>22</td><td>479</td><td>247</td><td>237</td><td>487</td><td>258</td><td>48</td><td>536</td><td>455</td><td>432</td><td>3,823</td></tr><tr><td>1941</td><td>771</td><td>534</td><td>-167</td><td>750</td><td>747</td><td>252</td><td>1,185</td><td>1,133</td><td>739</td><td>1,637</td><td>1,294</td><td>1,329</td><td>10,204</td></tr><tr><td>1942</td><td>2,050</td><td>1,871</td><td>-126</td><td>3,058</td><td>3,391</td><td>2,037</td><td>4,413</td><td>4,628</td><td>3,404</td><td>5,331</td><td>5,761</td><td>3,799</td><td>39,618</td></tr><tr><td>1943</td><td>5,584</td><td>5,164</td><td>2,147</td><td>5,952</td><td>5,955</td><td>3,758</td><td>5,105</td><td>4,896</td><td>2,087</td><td>5,426</td><td>5,740</td><td>1,716</td><td>53,530</td></tr><tr><td>1944</td><td>4,823</td><td></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>
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.
February 1944
11
BUDGETARY RECEIPTS AND EXPENDITURES
12
Treasury Bulletin
Trust Account, Etc. Receipts and Expenditures
Table 1. Trust Funds
(in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Total trust funds, net receipts (-) or net expenditures (-)</th><th colspan="2">Federal Old-Age and Survivors Insurance Trust Fund</th><th colspan="2">Unemployment Trust Fund</th><th colspan="2">Railroad Retirement Account</th><th colspan="2">Other trust accounts 1/</th></tr><tr><th></th><th></th><th>Net Receipts</th><th>Expenditures</th><th>Net Receipts</th><th>Expenditures</th><th>Net Receipts</th><th>Expenditures</th><th>Net Receipts</th><th>Expenditures</th></tr><tr><td>1934</td><td>+24</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+24</td><td>233</td><td>210</td></tr><tr><td>1935</td><td>+54</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>-4</td><td>323</td><td>327</td></tr><tr><td>1939</td><td>+29</td><td>+1</td><td>530</td><td>529</td><td>+1</td><td>838</td><td>837</td><td>+2</td><td>109</td><td>107</td><td>+24</td><td>349</td><td>325</td></tr><tr><td>1940</td><td>+37</td><td>+3</td><td>580</td><td>577</td><td>+1</td><td>959</td><td>957</td><td>-2</td><td>123</td><td>125</td><td>+35</td><td>366</td><td>331</td></tr><tr><td>1941</td><td>+37</td><td>+10</td><td>717</td><td>707</td><td>-4</td><td>1,114</td><td>1,118</td><td>+11</td><td>127</td><td>116</td><td>+20</td><td>409</td><td>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>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>-4</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>+4</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><tr><td>October</td><td>+52</td><td>+24</td><td>39</td><td>15</td><td>+5</td><td>37</td><td>31</td><td>-</td><td>34</td><td>33</td><td>+22</td><td>139</td><td>117</td></tr><tr><td>November</td><td>+210</td><td>+256</td><td>271</td><td>15</td><td>-1</td><td>291</td><td>291</td><td>-</td><td>-</td><td>-</td><td>+46</td><td>77</td><td>123</td></tr><tr><td>December</td><td>-262</td><td>-292</td><td>3</td><td>295</td><td>+41</td><td>83</td><td>43</td><td>-</td><td>-</td><td>-</td><td>-11</td><td>114</td><td>125</td></tr><tr><td>1944-January</td><td>+50</td><td>+28</td><td>32</td><td>4</td><td>-40</td><td>36</td><td>76</td><td>-</td><td>34</td><td>34</td><td>+63</td><td>164</td><td>101</td></tr></table>
Source: Daily Treasury Statements. * Less than $500,000. 1/ Includes Government insurance and retirement funds, etc.
Table 2.- Other Funds
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th colspan="3">Transactions in checking accounts of Government agencies, etc.</th><th colspan="3">Increment on gold</th><th colspan="3">Seigniorage on silver</th><th colspan="3">Miscellaneous funds and accounts 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>*</td><td>-2</td></tr><tr><td>1940</td><td>+31</td><td>+288</td><td>-254</td><td>*</td><td>*</td><td>*</td><td>+49</td><td>49</td><td>-</td><td>+16</td><td>43</td><td>27</td></tr><tr><td>1941</td><td>-217</td><td>+852</td><td>-1,069</td><td>*</td><td>*</td><td>*</td><td>+20</td><td>20</td><td>-</td><td>+11</td><td>244</td><td>233</td></tr><tr><td>1942</td><td>-3,625</td><td>-1,809</td><td>-1,815</td><td>*</td><td>*</td><td>*</td><td>+11</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>1943-January</td><td>-186</td><td>-8</td><td>-178</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+27</td><td>8</td><td>-19</td></tr><tr><td>February</td><td>-370</td><td>-25</td><td>-345</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+26</td><td>5</td><td>-21</td></tr><tr><td>March</td><td>-300</td><td>-11</td><td>-289</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+11</td><td>*</td><td>-11</td></tr><tr><td>April</td><td>-17</td><td>-4</td><td>-13</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+16</td><td>1</td><td>-15</td></tr><tr><td>May</td><td>-356</td><td>-290</td><td>-66</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+51</td><td>*</td><td>-52</td></tr><tr><td>June</td><td>+62</td><td>-2</td><td>+63</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>*</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><tr><td>October</td><td>-199</td><td>+2</td><td>-201</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+14</td><td>-</td><td>-14</td></tr><tr><td>November</td><td>+64</td><td>-2</td><td>+66</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+16</td><td>-2</td><td>-18</td></tr><tr><td>December</td><td>+27</td><td>-3</td><td>+24</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+22</td><td>-</td><td>-22</td></tr><tr><td>1944-January</td><td>-165</td><td>-18</td><td>-146</td><td>*</td><td>*</td><td>-</td><td>-</td><td>-</td><td>-</td><td>+101</td><td>-</td><td>-101</td></tr></table>
Source: Daily Treasury Statements. Less than $500,000. 1/ Comprises PWA revolving fund, and special deposits (net). Also includes Agricultural Marketing Administration commodity
2/ Net receipts in this column constitute net sales, and net expenditures constitute net redemptions of obligations.
3/ Details not available.
February 1944
13
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 g.t.1, etc. 2/</th></tr><tr><td>1934</td><td>4,616</td><td>2,896</td><td>1,720</td><td>-</td><td>4,616</td><td>4,514</td><td>-</td><td>101</td></tr><tr><td>1935</td><td>3,209</td><td>3,209</td><td>-</td><td>-</td><td>3,209</td><td>1,648</td><td>741</td><td>821</td></tr><tr><td>1936</td><td>5,390</td><td>4,550</td><td>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>23,451</td><td>19,598</td><td>358</td><td>3,506</td><td>23,451</td><td>23,451</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>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>3,904</td><td>3,758</td><td>-</td><td>206</td><td>3,904</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><tr><td>October</td><td>6,697</td><td>5,426</td><td>1,139</td><td>132</td><td>6,697</td><td>6,697</td><td>-</td><td>-</td></tr><tr><td>November</td><td>5,740</td><td>5,740</td><td>-</td><td>-</td><td>5,740</td><td>1,112</td><td>4,338</td><td>290</td></tr><tr><td>December</td><td>2,383</td><td>1,716</td><td>-</td><td>667</td><td>2,383</td><td>-281</td><td>2,664</td><td>-</td></tr><tr><td>1944-January</td><td>4,837</td><td>4,823</td><td>-</td><td>14</td><td>4,837</td><td>4,781</td><td>55</td><td>-</td></tr></table>
Source: Daily Treasury Statements. 1/ Excludee 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.
14
Treasury Bulletin
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 3/</th><th rowspan="2">Net receipts</th></tr><tr><th>Total</th><th>Federal Insurance Contributions Act (Old-age insurance) 1/</th><th>Federal Unemployment Tax Act (Unemployment insurance) 2/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>252.2</td><td>194.3</td><td>57.8</td><td>265.0</td><td>-12.8</td></tr><tr><td>1938</td><td>604.4</td><td>514.4</td><td>90.1</td><td>387.0</td><td>217.4</td></tr><tr><td>1939</td><td>631.2</td><td>530.4</td><td>100.9</td><td>503.0</td><td>128.2</td></tr><tr><td>1940</td><td>712.2</td><td>604.7</td><td>107.5</td><td>537.7</td><td>174.5</td></tr><tr><td>1941</td><td>788.2</td><td>690.6</td><td>97.7</td><td>661.3</td><td>126.9</td></tr><tr><td>1942</td><td>1,015.6</td><td>895.6</td><td>119.9</td><td>868.9</td><td>146.7</td></tr><tr><td>1943</td><td>1,288.9</td><td>1,130.5</td><td>158.4</td><td>1,103.0</td><td>185.9</td></tr><tr><td>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><tr><td>October</td><td>44.6</td><td>41.5</td><td>3.0</td><td>38.9</td><td>5.7</td></tr><tr><td>November</td><td>284.1</td><td>273.6</td><td>10.5</td><td>271.0</td><td>13.1</td></tr><tr><td>December</td><td>4.8</td><td>3.7</td><td>1.1</td><td>1.1</td><td>3.8</td></tr><tr><td>1944-January</td><td>48.1</td><td>33.8</td><td>14.2</td><td>31.8</td><td>16.2</td></tr></table>
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Total</th><th rowspan="2">Administrative expenses</th><th colspan="10">Grants to States</th><th rowspan="2">Refunds of taxes</th><th rowspan="2">Excess of expenditures</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 work</th><th>Maternal and child health services</th><th>Services for crippled children</th><th>Child welfare services</th><th>War Manpower Commission (U. S. Employment Service)</th></tr><tr><td>1936</td><td>28.4</td><td>.6</td><td>27.8</td><td>19.7</td><td>2.0</td><td>1.0</td><td>.9</td><td>2.4</td><td>1.0</td><td>.6</td><td>.2</td><td>-</td><td>-</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>41.06</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>1.8</td><td>115.1</td></tr><tr><td>1939</td><td>343.3</td><td>21.3</td><td>320.3</td><td>208.8</td><td>31.0</td><td>5.3</td><td>58.9</td><td>8.0</td><td>3.7</td><td>3.0</td><td>1.5</td><td>-</td><td>2.5</td><td>215.1</td></tr><tr><td>1940</td><td>384.2</td><td>25.3</td><td>356.5</td><td>227.6</td><td>45.4</td><td>6.2</td><td>58.3</td><td>9.4</td><td>4.8</td><td>3.3</td><td>1.5</td><td>-</td><td>2.6</td><td>209.7</td></tr><tr><td>1941</td><td>449.4</td><td>31.5</td><td>415.2</td><td>260.1</td><td>63.2</td><td>7.1</td><td>63.0</td><td>10.8</td><td>5.5</td><td>4.0</td><td>1.5</td><td>-</td><td>3.5</td><td>322.5</td></tr><tr><td>1942</td><td>504.4</td><td>31.5</td><td>469.6</td><td>299.1</td><td>69.4</td><td>8.0</td><td>70.3</td><td>11.4</td><td>5.9</td><td>4.0</td><td>1.6</td><td>20.7</td><td>2.8</td><td>357.8</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>-</td><td>-</td><td>341.3</td></tr><tr><td>1943-January</td><td>58.9</td><td>2.6</td><td>56.1</td><td>30.9</td><td>6.9</td><td>.9</td><td>10.8</td><td>2.3</td><td>.6</td><td>.3</td><td>.3</td><td>3.1</td><td>.2</td><td>43.5</td></tr><tr><td>February</td><td>29.3</td><td>2.8</td><td>26.3</td><td>16.4</td><td>4.4</td><td>.4</td><td>.2</td><td>.1</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>.1</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>.1</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>.1</td><td>.8</td><td>.3</td><td>.1</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>.1</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>.1</td><td>.6</td><td>.4</td><td>.1</td><td>.1</td><td>.3</td><td>29.0</td></tr><tr><td>October</td><td>56.9</td><td>2.9</td><td>53.7</td><td>36.1</td><td>6.1</td><td>1.0</td><td>7.5</td><td>2.0</td><td>.5</td><td>.2</td><td>.2</td><td>.1</td><td>.3</td><td>51.3</td></tr><tr><td>November</td><td>40.8</td><td>2.2</td><td>38.3</td><td>29.2</td><td>5.2</td><td>1.2</td><td>.6</td><td>.4</td><td>.9</td><td>.5</td><td>.2</td><td>.1</td><td>.3</td><td>27.7</td></tr><tr><td>December</td><td>24.1</td><td>2.8</td><td>21.0</td><td>18.2</td><td>2.1</td><td>.5</td><td>-</td><td>-</td><td>.1</td><td>.1</td><td>.1</td><td>.1</td><td>.3</td><td>20.4</td></tr><tr><td>1944-January</td><td>58.8</td><td>2.2</td><td>56.1</td><td>35.2</td><td>6.2</td><td>1.1</td><td>9.7</td><td>2.2</td><td>.9</td><td>.5</td><td>.3</td><td>.1</td><td>.5</td><td>42.6</td></tr></table>
Daily Treasury Statements. Less than $50,000. Formerly Title VIII of the Social Security Act. Formerly Title IX of the Social Security Act. Includes amounts equal to appropriations to Railroad Unemployment Insurance Administration Fund equivalent to amounts of taxes collected with respect to the period from January 1936 to June 1939, inclusive, from employers subject to the Railroad Unemployment Insurance Act (See Table 3 of Section 1). 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 to the General Fund of the Treasury and "appropriated" directly to the Federal Old-Age and Survivors Insurance Trust Fund. Amounts shown as transfers reflect deductions made for reimbursement to the General Fund account to cover administrative expenses, which are shown as expenditures in
Section II. Table 1.
4/ Includes only expenditures from appropriations made specifically for administrative expenses relating to the Social Security Act; namely, Social Security Board, Department of Commerce, and Department of Labor; and administrative expenses reimbursed to the General Fund of the Treasury under Section 201 (f) of the Social Security Act, as amended. Beginning July 1, 1940, includes also administrative expenses under the Wagner-Peyser Act. Excludes administrative expenses payable from other appropriations, principally for the following agencies: Bureau of Internal Revenue of the Treasury Department, and Public Health Service and Office of Education of the Federal Security Agency.
5/ Covered by appropriations by Congress.
6/ Second Deficiency Appropriation Act, fiscal year 1938, approved June 25, 1938, carried an appropriation of $40,561,886 for making refund to certain States of portions of Federal employers' tax for 1936 collected under the Social Security Act.
February 1944
15
Social Security Program - (Continued)
Section I.- Budgetary Receipts and Expenditures - (Continued)
Table 2.- Railroad Retirement Act
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="2">Receipts</th><th colspan="4">Expenditures</th><th rowspan="2">Excess of expenditures 2/</th></tr><tr><th>Carriers' Taxing Act of 1937</th><th>Total</th><th>Administrative expenses 1/</th><th>Transfere to Railroad Retirement Account (trust account)</th><th>Refunds of taxes</th></tr><tr><td>1936</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>-</td><td>.3</td></tr><tr><td>1937</td><td>.3</td><td>1.5</td><td>1.5</td><td>-</td><td>-</td><td>1.2</td></tr><tr><td>1938</td><td>150.1</td><td>149.0</td><td>2.6</td><td>146.4</td><td>.1</td><td>-2.1</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>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><tr><td>October</td><td>1.1</td><td>33.8</td><td>.2</td><td>33.5</td><td>*</td><td>32.7</td></tr><tr><td>November</td><td>8.2</td><td>.2</td><td>.2</td><td>-</td><td>*</td><td>-8.0</td></tr><tr><td>December</td><td>52.9</td><td>.4</td><td>.4</td><td>-</td><td>*</td><td>-52.5</td></tr><tr><td>1944-January</td><td>1.2</td><td>34.1</td><td>.1</td><td>34.0</td><td>*</td><td>32.9</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
2/ Retirement Act. Covered by appropriations from the General Fund of the Treasury.
Table 3.- Railroad Unemployment Insurance Act
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Receipts Railroad unemployment insurance contributions 2/</th><th>Total</th><th>Expenditures Administrative expenses (Railroad Unemployment Insurance Administration Fund) 3/</th><th>Transfers to Railroad Unemployment Insurance Account, Unemployment Trust Fund 4/</th><th>Excess of expenditures 5/</th></tr><tr><td>1936</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1937</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1938</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1939</td><td>-</td><td>.5</td><td>.5</td><td>-</td><td>.5</td></tr><tr><td>1940</td><td>4.9</td><td>5.0</td><td>5.0</td><td>-</td><td>.1</td></tr><tr><td>1941</td><td>6.8</td><td>10.9</td><td>3.4</td><td>7.5</td><td>4.1</td></tr><tr><td>1942</td><td>8.5</td><td>6.4</td><td>2.5</td><td>3.9</td><td>-2.1</td></tr><tr><td>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>1943-January</td><td>*</td><td>.1</td><td>.1</td><td>-</td><td>.1</td></tr><tr><td>February</td><td>1.1</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>1.1</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><tr><td>October</td><td>1.1</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>November</td><td>2.2</td><td>.2</td><td>.2</td><td>-</td><td>.1</td></tr><tr><td>December</td><td>2.7</td><td>.2</td><td>.2</td><td>-</td><td>-2.5</td></tr><tr><td>1944-January</td><td>*</td><td>.3</td><td>.3</td><td>-</td><td>.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 employees subject to the Railroad Unemployment Insurance Act, as follows
(in millions): Calendar year 1936 - $2.7, 1937 - $5.3, 1938 - $6.8, and for the first six months of the calendar year 1939 - $2.9, aggregating $17.7. These amounts are included in Table 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.
0
Treasury Bulletin
Social Security Program - (Continued) Section II.- Statements of Trust Accounts
Table 1.- Federal Old-Age and Survivors Insurance Trust Fund
(Cumulative from organisation - In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th colspan="3">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Total expenditures</th><th>Old-age benefit payments</th><th>Reimbursement for administrative expenses 2/</th><th>Total investments</th><th>Unexpended balance in General Fund</th><th>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</td></tr><tr><td>1938</td><td>782.7</td><td>765.0</td><td>17.7</td><td>5.4</td><td>5.4</td><td>-</td><td>777.2</td><td>662.3</td><td>113.0</td></tr><tr><td>1939</td><td>1,199.6</td><td>1,155.0</td><td>44.6</td><td>19.3</td><td>19.3</td><td>-</td><td>1,180.3</td><td>1,177.2</td><td>.1</td></tr><tr><td>1940</td><td>1,792.1</td><td>1,705.0</td><td>87.1</td><td>47.4</td><td>35.1</td><td>12.3</td><td>1,744.7</td><td>1,738.1</td><td>.5</td></tr><tr><td>1941</td><td>2,536.2</td><td>2,393.1</td><td>143.1</td><td>138.6</td><td>99.5</td><td>39.1</td><td>2,397.6</td><td>2,380.6</td><td>6.2</td></tr><tr><td>1942</td><td>3,502.8</td><td>3,288.8</td><td>214.1</td><td>275.6</td><td>209.8</td><td>65.9</td><td>3,227.2</td><td>3,201.6</td><td>5.2</td></tr><tr><td>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>7.0</td></tr><tr><td>1943-November</td><td>5,369.7</td><td>5,067.6</td><td>302.0</td><td>537.4</td><td>430.3</td><td>107.1</td><td>4,832.3</td><td>4,498.9</td><td>306.2</td></tr><tr><td>December</td><td>5,375.4</td><td>5,071.3</td><td>304.2</td><td>555.0</td><td>445.3</td><td>109.7</td><td>4,820.5</td><td>4,778.8</td><td>12.5</td></tr><tr><td>1944-January</td><td>5,409.4</td><td>5,105.1</td><td>304.3</td><td>572.3</td><td>460.6</td><td>111.7</td><td>4,837.1</td><td>4,767.8</td><td>38.5</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>30.8</td></tr></table>
Sources: 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>End of fiscal year or month</th><th colspan="3">Receipts</th><th>Expenditures</th><th colspan="3">Balance</th></tr><tr><th></th><th>Total receipts</th><th>Appropriations by Congress</th><th>Interest on investments</th><th>Benefit payments</th><th>Total</th><th>Investments</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>In General Fund</th><th>In disbursing officer's account</th></tr><tr><td>1936</td><td>46.6</td><td>46.6</td><td>-</td><td>-</td><td>46.6</td><td>-</td><td>46.6</td><td>-</td></tr><tr><td>1937</td><td>46.6</td><td>46.6</td><td>-</td><td>4.0</td><td>42.6</td><td>-</td><td>36.6</td><td>6.0</td></tr><tr><td>1938</td><td>147.9</td><td>146.5</td><td>1.4</td><td>79.8</td><td>68.1</td><td>66.2</td><td>1.2</td><td>1.6</td></tr><tr><td>1939</td><td>268.4</td><td>204.8</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>10.8</td><td>1.8</td></tr><tr><td>1941</td><td>506.9</td><td>498.5</td><td>8.4</td><td>419.9</td><td>87.0</td><td>74.0</td><td>2.5</td><td>10.5</td></tr><tr><td>1942</td><td>650.9</td><td>639.4</td><td>11.6</td><td>546.1</td><td>104.8</td><td>91.5</td><td>1.6</td><td>11.7</td></tr><tr><td>1943</td><td>871.5</td><td>854.2</td><td>17.3</td><td>676.6</td><td>194.9</td><td>176.0</td><td>4.1</td><td>12.8</td></tr><tr><td>1943-November</td><td>1,134.6</td><td>1,116.9</td><td>17.7</td><td>732.3</td><td>402.3</td><td>321.0</td><td>68.6</td><td>12.7</td></tr><tr><td>December</td><td>1,134.7</td><td>1,116.9</td><td>17.9</td><td>743.4</td><td>391.4</td><td>310.0</td><td>68.7</td><td>12.7</td></tr><tr><td>1944-January</td><td>1,134.9</td><td>1,116.9</td><td>18.0</td><td>754.6</td><td>380.3</td><td>333.0</td><td>34.7</td><td>12.6</td></tr></table>
Source: Daily Treasury Statements
* Less than $50,000.
Table 3.- Unemployment Trust Fund
(Cumulative from organisation - In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="4">Receipts</th><th colspan="3">Expenditures</th><th colspan="3">Balance</th></tr><tr><th>Total receipts</th><th>State unemployment insurance activities</th><th>Railroad unemployment insurance contributions</th><th>Transfers from Railroad Unemployment Insurance Administration Fund</th><th>Interest on investments</th><th>Total expenditures</th><th>State unemployment insurance activities</th><th>Railroad Unemployment Insurance Account</th><th>Total</th><th>Unexpended balance</th></tr><tr><th></th><th></th><th>Deposits by States</th><th>2/</th><th>1/</th><th>1/</th><th></th><th>With-drawals by States</th><th>Benefit payments</th><th>Invest- ments</th><th>In General Fund (Special Deposit Account</th><th>In dis-bursing officer's account</th></tr><tr><td>1936</td><td>18.9</td><td>18.9</td><td>-</td><td>-</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>18.9</td><td>18.9</td><td>*</td></tr><tr><td>1937</td><td>313.4</td><td>310.6</td><td>-</td><td>-</td><td>2.8</td><td>1.0</td><td>1.0</td><td>-</td><td>312.4</td><td>312.3</td><td>.1</td></tr><tr><td>1938</td><td>1,076.2</td><td>1,058.2</td><td>-</td><td>-</td><td>18.0</td><td>192.0</td><td>192.0</td><td>-</td><td>884.2</td><td>872.0</td><td>12.2</td></tr><tr><td>1939</td><td>1,914.3</td><td>1,869.5</td><td>-</td><td>-</td><td>44.8</td><td>633.8</td><td>633.8</td><td>-</td><td>1,280.5</td><td>1,267.0</td><td>13.5</td></tr><tr><td>1940</td><td>2,857.9</td><td>2,729.3</td><td>44.2</td><td>1.8</td><td>82.6</td><td>1,133.1</td><td>1,116.7</td><td>1.8</td><td>1,724.9</td><td>1,710.0</td><td>13.4</td></tr><tr><td>1941</td><td>3,971.9</td><td>3,621.4</td><td>105.6</td><td>105.9</td><td>131.5</td><td>1,668.2</td><td>1,550.0</td><td>105.9</td><td>2,283.7</td><td>2,273.0</td><td>8.0</td></tr><tr><td>1942</td><td>5,215.5</td><td>4,717.3</td><td>181.9</td><td>105.9</td><td>11.4</td><td>2,065.4</td><td>1,918.0</td><td>105.9</td><td>3,150.1</td><td>3,139.0</td><td>7.8</td></tr><tr><td>1943</td><td>6,614.0</td><td>5,935.0</td><td>274.3</td><td>105.9</td><td>17.4</td><td>2,241.5</td><td>2,092.4</td><td>105.9</td><td>4,372.5</td><td>4,367.0</td><td>4.0</td></tr><tr><td>1943-November</td><td>7,329.0</td><td>6,612.2</td><td>300.5</td><td>105.9</td><td>29.1</td><td>2,262.1</td><td>2,112.7</td><td>105.9</td><td>5,067.0</td><td>5,056.0</td><td>10.7</td></tr><tr><td>December</td><td>7,412.5</td><td>6,626.4</td><td>324.9</td><td>105.9</td><td>29.1</td><td>2,265.7</td><td>2,116.3</td><td>105.9</td><td>5,146.7</td><td>5,095.0</td><td>51.5</td></tr><tr><td>1944-January</td><td>7,448.4</td><td>6,662.2</td><td>325.1</td><td>105.9</td><td>29.1</td><td>2,271.0</td><td>2,121.6</td><td>105.9</td><td>5,177.4</td><td>5,166.0</td><td>11.1</td></tr></table>
Source: Daily Treasury Statements.
1/ Excludes advance of $15 millions from the Treasury and subsequent repayment, both taking place in the fiscal year 1940.
2/ Represents 90% of contributions under the Railroad Unemployment Insurance Act; the remaining 10% is used for administrative expenses. (See Section I, Table 3.)
3/ Represents amounts transferred from States to Railroad Unemployment Insurance Account equivalent to amounts of taxes collected, with respect to period from January 1936 to June 1939, inclusive, from employees and employers who come within the purview of the Railroad Unemployment Insurance Act.
4/ Represents excess funds of the Railroad Unemployment Insurance Administration Fund (under Act of Oct. 10, 1940).
5/ For railroad unemployment benefits and refunds.
February
1944
1
Cash Income and Outgo of the Treasury, by Major Classifications
(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>Jan.</th></tr><tr><td><b>CASH INCOME</b><br>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>1944</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>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><td>1,303</td><td>1,459</td><td>5,040</td><td>1,727</td></tr><tr><td>Employment taxes.</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><td>46</td><td>292</td><td>58</td><td>49</td></tr><tr><td>Miscellaneous internal revenue.</td><td>365</td><td>352</td><td>374</td><td>346</td><td>359</td><td>353</td><td>512</td><td>729</td><td>344</td><td>404</td><td>363</td><td>386</td><td>412</td></tr><tr><td>Customs.</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><td>38</td><td>34</td><td>34</td><td>40</td></tr><tr><td>Other.</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><td>218</td><td>221</td><td>214</td><td>521</td></tr><tr><td>Subtotal</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><td>2,069</td><td>2,370</td><td>5,732</td><td>2,749</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>40</td><td>262</td><td>34</td><td>35</td><td>277</td><td>36</td><td>44</td><td>301</td><td>31</td><td>37</td><td>291</td><td>39</td><td>36</td></tr><tr><td>Trust accounts 2/.</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><td>136</td><td>73</td><td>111</td><td>160</td></tr><tr><td>Subtotal</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><td>173</td><td>364</td><td>149</td><td>196</td></tr><tr><td>Total cash income.</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>2,242</td><td>2,734</td><td>5,881</td><td>2,945</td></tr><tr><td><b>CASH OUTGO</b><br>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>5,947</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><td>6,989</td><td>7,541</td><td>6,718</td><td>7,138</td></tr><tr><td>Veterans' Administration.</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><td>49</td><td>50</td><td>51</td><td>52</td></tr><tr><td>Public Works 3/.</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><td>43</td><td>26</td><td>43</td><td>37</td></tr><tr><td>Aid to agriculture 4/.</td><td>110</td><td>110</td><td>135</td><td>117</td><td>99</td><td>68</td><td>71</td><td>65</td><td>69</td><td>81</td><td>597</td><td>47</td><td>81</td></tr><tr><td>Social Security program 5/.</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><td>57</td><td>41</td><td>25</td><td>59</td></tr><tr><td>Work Projects Administration.</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><td>2</td><td>1</td><td></td><td>6</td></tr><tr><td>Civilian Conservation Corps.</td><td>2</td><td></td><td></td><td>21</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest on the public debt 6/.</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><td>117</td><td>35</td><td>429</td><td>59</td></tr><tr><td>Other.</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><td>68</td><td>707</td><td>71</td><td>73</td></tr><tr><td>Subtotal</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><td>7,407</td><td>7,824</td><td>7,382</td><td>7,505</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.</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><td>225</td><td>274</td><td>223</td><td>204</td></tr><tr><td>Other.</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><td>-30</td><td>-18</td><td>-25</td><td>-35</td></tr><tr><td>Commodity Credit Corporation.</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><td>37</td><td>-88</td><td>150</td><td>16</td></tr><tr><td>Unemployment Trust Fund.</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><td>3</td><td>4</td><td>4</td><td>5</td></tr><tr><td>Federal Old-Age and Survivors Insurance Trust Fund.</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><td>15</td><td>15</td><td>15</td><td>15</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>-278</td><td>-46</td><td>-146</td><td>124</td><td>-83</td><td>-122</td><td>-154</td><td>-137</td><td>-12</td><td>-15</td><td>-227</td><td>92</td><td>-184</td></tr><tr><td>Subtotal</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><td>247</td><td>-29</td><td>469</td><td>62</td></tr><tr><td>Redemption of adjusted service bonds.</td><td></td><td></td><td></td><td></td><td></td><td>1</td><td>1</td><td>1</td><td>1</td><td></td><td></td><td></td><td></td></tr><tr><td>Total cash outgo.</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>7,654</td><td>7,795</td><td>7,852</td><td>7,568</td></tr><tr><td>EXCESS OF CASH OUTGO</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>5,412</td><td>5,061</td><td>1,971</td><td>4,623</td></tr></table>
Less than $500,000. Revised. 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. Includes sale of commodity food stamps, Agricultural Marketing Administration. Comprises Public Buildings Administration, Public Roads Administration, Public Works Administration, Federal Public Housing Authority, river and harbor work and flood control, Tennessee
4/ Comprises Agricultural Conservation and Adjustment Administration (classified in the Daily Treasury Statement as "Other War Food Administration expenditures" commencing October 1943), Agricultural Marketing Administration (except transfers to trust accounts, etc.), 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/ Excludes transactions under transfers to trust accounts, etc. Excludes accrued interest on United States savings bonds.
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>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>6,552</td></tr><tr><td>1940</td><td>398</td><td>614</td><td>989</td><td>385</td><td>561</td><td>781</td><td>449</td><td>724</td><td>756</td><td>458</td><td>656</td><td>798</td><td>7,569</td></tr><tr><td>1941</td><td>475</td><td>724</td><td>1,640</td><td>540</td><td>749</td><td>1,329</td><td>576</td><td>766</td><td>1,205</td><td>611</td><td>956</td><td>1,288</td><td>10,859</td></tr><tr><td>1942</td><td>734</td><td>1,180</td><td>3,635</td><td>829</td><td>1,036</td><td>2,558</td><td>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>2,242</td><td>2,734</td><td>5,881</td><td>38,246</td></tr><tr><td>1944</td><td>2,945</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939</td><td>728</td><td>669</td><td>834</td><td>730</td><td>750</td><td>844</td><td>652</td><td>989</td><td>892</td><td>781</td><td>667</td><td>947</td><td>9,483</td></tr><tr><td>1940</td><td>727</td><td>679</td><td>851</td><td>793</td><td>691</td><td>886</td><td>806</td><td>870</td><td>832</td><td>976</td><td>962</td><td>1,244</td><td>10,317</td></tr><tr><td>1941</td><td>1,179</td><td>1,150</td><td>1,555</td><td>1,475</td><td>1,434</td><td>1,548</td><td>1,516</td><td>1,748</td><td>2,046</td><td>2,439</td><td>1,973</td><td>2,778</td><td>20,841</td></tr><tr><td>1942</td><td>2,699</td><td>2,729</td><td>3,608</td><td>3,973</td><td>4,470</td><td>4,738</td><td>5,067</td><td>5,538</td><td>5,989</td><td>6,203</td><td>5,949</td><td>6,996</td><td>57,959</td></tr><tr><td>1943</td><td>6,521</td><td>6,422</td><td>7,647</td><td>7,460</td><td>7,449</td><td>8,012</td><td>7,045</td><td>7,759</td><td>7,727</td><td>7,554</td><td>7,795</td><td>7,852</td><td>89,354</td></tr><tr><td>1944</td><td>7,568</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Excess of cash outgo</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1939</td><td>364</td><td>88</td><td>38</td><td>407</td><td>198</td><td>200</td><td>283</td><td>400</td><td>140</td><td>382</td><td>100</td><td>332</td><td>2,932</td></tr><tr><td>1940</td><td>329</td><td>65</td><td>-138</td><td>408</td><td>130</td><td>105</td><td>357</td><td>146</td><td>76</td><td>518</td><td>306</td><td>446</td><td>2,748</td></tr><tr><td>1941</td><td>704</td><td>426</td><td>-85</td><td>935</td><td>685</td><td>219</td><td>940</td><td>982</td><td>841</td><td>1,828</td><td>1,017</td><td>1,490</td><td>9,982</td></tr><tr><td>1942</td><td>1,965</td><td>1,549</td><td>-27</td><td>3,144</td><td>3,434</td><td>2,179</td><td>4,174</td><td>4,476</td><td>3,368</td><td>5,334</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>5,412</td><td>5,061</td><td>1,971</td><td>51,108</td></tr><tr><td>1944</td><td>4,623</td><td></td><td></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>
GENERAL FUND OF THE TREASURY
-18-
February 1944
19
Assets of the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total</th><th>Bullion, coin, and currency</th><th>Deposite in Federal Reserve Banks</th><th>Special deposits account of sales of Government securities (War Loan accounts)</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>111</td><td>619</td><td>55</td></tr><tr><td>1938</td><td>2,419</td><td>827</td><td>929</td><td>611</td><td>52</td></tr><tr><td>1939</td><td>3,087</td><td>1,194</td><td>1,022</td><td>776</td><td>95</td></tr><tr><td>1940</td><td>2,038</td><td>874</td><td>254</td><td>805</td><td>105</td></tr><tr><td>1941</td><td>2,812</td><td>984</td><td>1,024</td><td>661</td><td>143</td></tr><tr><td>1942</td><td>3,443</td><td>897</td><td>603</td><td>1,679</td><td>265</td></tr><tr><td>1943</td><td>10,149</td><td>911</td><td>1,038</td><td>7,667</td><td>533</td></tr><tr><td>1943-January</td><td>8,200</td><td>857</td><td>465</td><td>6,367</td><td>511</td></tr><tr><td>February</td><td>5,895</td><td>872</td><td>623</td><td>3,892</td><td>509</td></tr><tr><td>March</td><td>4,758</td><td>871</td><td>643</td><td>2,694</td><td>550</td></tr><tr><td>April</td><td>13,112</td><td>883</td><td>1,215</td><td>10,485</td><td>529</td></tr><tr><td>May</td><td>13,152</td><td>897</td><td>651</td><td>11,117</td><td>487</td></tr><tr><td>June</td><td>10,149</td><td>911</td><td>1,038</td><td>7,667</td><td>533</td></tr><tr><td>July</td><td>9,127</td><td>906</td><td>979</td><td>6,790</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><tr><td>October</td><td>19,833</td><td>900</td><td>1,095</td><td>17,280</td><td>563</td></tr><tr><td>November</td><td>15,492</td><td>908</td><td>1,245</td><td>12,770</td><td>569</td></tr><tr><td>December</td><td>12,878</td><td>926</td><td>1,408</td><td>9,942</td><td>601</td></tr><tr><td>1944-January</td><td>12,873</td><td>937</td><td>1,098</td><td>10,314</td><td>523</td></tr></table>
Source: Daily Treasury Statements
Balance in the General Fund of the Treasury
(In millions of dollars)
<table><tr><th>End of fiscal year or month</th><th>Total assets</th><th>Total liabilities</th><th>Balance in the General fund</th><th colspan="3">Analysis of balance in the General Fund 1/</th></tr><tr><th></th><th></th><th></th><th></th><th>Working balance</th><th>Seigniorage on silver</th><th>Increment on gold</th></tr><tr><td>1934</td><td>3,033</td><td>451</td><td>2,582</td><td>1,771</td><td>-</td><td>811</td></tr><tr><td>1935</td><td>2,016</td><td>175</td><td>1,841</td><td>1,001</td><td>140</td><td>700</td></tr><tr><td>1936</td><td>2,936</td><td>254</td><td>2,682</td><td>2,069</td><td>316</td><td>297</td></tr><tr><td>1937</td><td>2,709</td><td>156</td><td>2,553</td><td>2,000</td><td>356</td><td>198</td></tr><tr><td>1938</td><td>2,419</td><td>203</td><td>2,216</td><td>1,622</td><td>446</td><td>147</td></tr><tr><td>1939</td><td>3,087</td><td>248</td><td>2,833</td><td>2,160</td><td>536</td><td>142</td></tr><tr><td>1940</td><td>2,038</td><td>147</td><td>1,891</td><td>1,163</td><td>585</td><td>143</td></tr><tr><td>1941</td><td>2,812</td><td>179</td><td>2,633</td><td>1,885</td><td>605</td><td>143</td></tr><tr><td>1942</td><td>3,443</td><td>452</td><td>2,991</td><td>2,229</td><td>619</td><td>144</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>1943-January</td><td>8,200</td><td>477</td><td>7,724</td><td>6,961</td><td>619</td><td>144</td></tr><tr><td>February</td><td>5,895</td><td>503</td><td>5,392</td><td>4,630</td><td>619</td><td>144</td></tr><tr><td>March</td><td>4,758</td><td>579</td><td>4,179</td><td>3,416</td><td>619</td><td>144</td></tr><tr><td>April</td><td>13,112</td><td>495</td><td>12,617</td><td>11,854</td><td>619</td><td>144</td></tr><tr><td>May</td><td>13,152</td><td>465</td><td>12,687</td><td>11,924</td><td>619</td><td>144</td></tr><tr><td>June</td><td>10,149</td><td>643</td><td>9,507</td><td>8,744</td><td>619</td><td>144</td></tr><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>18,734</td><td>576</td><td>18,158</td><td>17,395</td><td>619</td><td>144</td></tr><tr><td>October</td><td>19,838</td><td>541</td><td>19,297</td><td>18,534</td><td>619</td><td>144</td></tr><tr><td>November</td><td>15,492</td><td>534</td><td>14,958</td><td>14,196</td><td>619</td><td>144</td></tr><tr><td>December</td><td>12,878</td><td>584</td><td>12,294</td><td>11,532</td><td>619</td><td>144</td></tr><tr><td>1944-January</td><td>12,873</td><td>634</td><td>12,239</td><td>11,476</td><td>619</td><td>144</td></tr></table>
Source: Daily Treasury Statements. 
1/ In the fiscal years 1935 and 1936, $91 millions and $554 millions, respectively, were transferred from increment on gold to the working balance for retirement of national bank notes. 
In this statement, however, charges for retirement of national
bank notes are reflected directly against increment on gold in the years during which the retirements were actually made. Inactive gold in the amount of $1,087 millions for the fiscal year 1937 is considered as a part of the working balance.
20
Treasury Bulletin
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>Total working balance</th><th>General and special accounts 1/</th><th>Public debt accounts 2/</th><th>Trust accounts 1/</th><th>Miscellaneous funds and accounts 3/</th><th>Checking accounts of Government agencies, etc.</th><th>Seigniorage on silver</th><th>Increment on gold 5/</th></tr><tr><td>1934</td><td>1,720</td><td>908</td><td>-396</td><td>4,514</td><td>24</td><td>-</td><td>-77</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>-103 6/</td></tr><tr><td>1937</td><td>-128</td><td>-70</td><td>-3,149</td><td>2,746 1/</td><td>19</td><td>-</td><td>314</td><td>40</td><td>-99</td></tr><tr><td>1938</td><td>-338</td><td>-377</td><td>-1,384</td><td>792 1/</td><td>11</td><td>-</td><td>204</td><td>90</td><td>-51</td></tr><tr><td>1939</td><td>622</td><td>537</td><td>-3,542</td><td>3,280 1/</td><td>29</td><td>2</td><td>768</td><td>90</td><td>-5</td></tr><tr><td>1940</td><td>-947</td><td>-997</td><td>-3,611</td><td>2,528</td><td>37</td><td>16</td><td>34</td><td>49</td><td>-</td></tr><tr><td>1941</td><td>742</td><td>722</td><td>-5,103</td><td>5,994</td><td>37</td><td>11</td><td>-217</td><td>20</td><td>-</td></tr><tr><td>1942</td><td>358</td><td>344</td><td>-19,598</td><td>23,461</td><td>66</td><td>39</td><td>-3,625</td><td>14</td><td>-</td></tr><tr><td>1943</td><td>6,515</td><td>6,515</td><td>-55,897</td><td>64,274</td><td>92</td><td>241</td><td>-2,194</td><td>-</td><td>-</td></tr><tr><td>1943-January</td><td>-2,819</td><td>-2,819</td><td>-5,584</td><td>2,899</td><td>24</td><td>27</td><td>-186</td><td>-</td><td>-</td></tr><tr><td>February</td><td>-2,331</td><td>-2,331</td><td>-5,164</td><td>2,954</td><td>222</td><td>26</td><td>-370</td><td>-</td><td>-</td></tr><tr><td>March</td><td>-1,213</td><td>-1,213</td><td>-2,147</td><td>1,483</td><td>-260</td><td>11</td><td>-300</td><td>-</td><td>-</td></tr><tr><td>April</td><td>8,438</td><td>8,438</td><td>-5,952</td><td>14,342</td><td>49</td><td>16</td><td>-17</td><td>-</td><td>-</td></tr><tr><td>May</td><td>70</td><td>70</td><td>-5,955</td><td>6,064</td><td>266</td><td>51</td><td>-356</td><td>-</td><td>-</td></tr><tr><td>June</td><td>-3,180</td><td>-3,180</td><td>-3,758</td><td>784</td><td>-279</td><td>-9</td><td>82</td><td>-</td><td>-</td></tr><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><tr><td>October</td><td>1,139</td><td>1,139</td><td>-5,426</td><td>6,697</td><td>52</td><td>14</td><td>-199</td><td>-</td><td>-</td></tr><tr><td>November</td><td>-4,338</td><td>-4,338</td><td>-5,740</td><td>1,112</td><td>210</td><td>16</td><td>64</td><td>-</td><td>-</td></tr><tr><td>December</td><td>-2,664</td><td>-2,664</td><td>-1,716</td><td>-281</td><td>-262</td><td>22</td><td>-427</td><td>-</td><td>-</td></tr><tr><td>1944-January</td><td>-55</td><td>-55</td><td>-4,823</td><td>4,781</td><td>50</td><td>101</td><td>-165</td><td>-</td><td>-</td></tr></table>
Source: Daily Treasury Statements.
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 food stamp transactions.
5/ Includes expenditures for retirement of national bank notes.
6/ In the fiscal years 1935 and 1936, $91 millions and $554 millions were transferred from increment on gold to the working
balance for retirement of national bank notes. In this statement, however, charges for retirement of national bank notes are reflected directly against increment on gold, in the year 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
-21-
22
Treasury Bulletin
Summary of the Public Debt and Guaranteed Obligations of the United States Government
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th colspan="5">Public debt</th><th colspan="4">Guaranteed debt 2/</th></tr><tr><th>Total</th><th>Total</th><th colspan="3">Interest-bearing debt</th><th>Matured debt and debt bearing no interest</th><th>Total</th><th colspan="2">Interest-bearing debt</th><th>Matured debt</th></tr><tr><th></th><th></th><th></th><th>Marketable issues</th><th>Non-marketable issues</th><th>Special issues</th><th></th><th></th><th>Marketable issues</th><th>Non-marketable issues</th><th></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>26,750</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>1935</td><td>38,497</td><td>33,774</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>36,475</td><td>33,064</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>33,455</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>48,661</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>7,855</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>136,604</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>1943-January</td><td>115,361</td><td>111,369</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>113,311</td><td>111,024</td><td>78,776</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>119,897</td><td>115,507</td><td>77,52</td><td>24,622</td><td>10,004</td><td>1,219</td><td>4,350</td><td>4,272</td><td>78</td><td>11</td></tr><tr><td>April</td><td>134,221</td><td>129,311</td><td>91,312</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>135,311</td><td>95,312</td><td>27,055</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>135,592</td><td>95,310</td><td>27,200</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>141,521</td><td>98,313</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>99,335</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>152,321</td><td>153,349</td><td>111,426</td><td>33,910</td><td>11,717</td><td>1,296</td><td>3,971</td><td>3,888</td><td>77</td><td>7</td></tr><tr><td>October</td><td>169,166</td><td>165,047</td><td>115,944</td><td>35,776</td><td>11,568</td><td>1,458</td><td>4,119</td><td>3,923</td><td>190</td><td>6</td></tr><tr><td>November</td><td>170,318</td><td>166,158</td><td>115,909</td><td>35,595</td><td>12,278</td><td>1,377</td><td>4,160</td><td>3,959</td><td>195</td><td>6</td></tr><tr><td>December</td><td>170,108</td><td>165,877</td><td>115,230</td><td>36,574</td><td>12,703</td><td>1,370</td><td>4,230</td><td>4,020</td><td>205</td><td>6</td></tr><tr><td>1944-January</td><td>174,933</td><td>170,659</td><td>115,259</td><td>38,911</td><td>12,873</td><td>3,6163</td><td>4,275</td><td>4,078</td><td>191</td><td>6</td></tr></table>
Source: Daily Treasury Statements
Less than $500,000. For detailed statement of the public debt and guaranteed obligations, see following page.
2/ Guaranteed securities sold directly to the Treasury, and securities guaranteed as to interest only, are not included in this table.
3/ Includes prepayments in the amount of $2,193 millions on securities dated February 1, 1944 and offered as part of the Fourth War Loan.
Analysis of Issuance and Retirement of Public Debt
(In millions of dollars)
<table><tr><th rowspan="2">Fiscal year or month</th><th rowspan="2">Public debt outstanding end of fiscal year or month</th><th rowspan="2">Net change in public debt during fiscal year or month</th><th colspan="6">Public debt receipts (revenue of public debt)</th><th colspan="5">Public debt expenditures (Retirement of public debt)</th></tr><tr><th>Total</th><th>Cash 1/</th><th>Certificates of indebted- oose, special series 2/</th><th>Adjusted service bonds</th><th>Excess profits tax refund bonds</th><th>Ex- changes</th><th>Special issues</th><th>Total</th><th>Cash 1/</th><th>Certificates of indebted- ness, 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>17,583</td><td>9,161</td><td>-</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>11,126</td><td>5,716</td><td>-</td><td>-</td><td>-</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>5,073</td><td>11,121</td><td>8,8</td><td>-</td><td>1,669</td><td>-</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>2,346</td><td>1,71</td><td>1,474</td><td>-</td><td>141</td><td>-</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>1,71</td><td>4,714</td><td>-</td><td>13</td><td>-</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>13,284</td><td>7,475</td><td>-</td><td>7</td><td>-</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>-</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>17,347</td><td>10,462</td><td>-</td><td>2</td><td>-</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>30,338</td><td>303</td><td>1</td><td>-</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>136,596</td><td>64,274</td><td>122,632</td><td>94,961</td><td>17,911</td><td>1</td><td>-</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>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>-</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>5,983</td><td>6,557</td><td>-</td><td>-</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>-</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>17,600</td><td>17,527</td><td>-</td><td>-</td><td>-</td><td>-</td><td>94</td><td>3,278</td><td>2,976</td><td>-</td><td>-</td><td>302</td></tr><tr><td>May</td><td>135,913</td><td>6,064</td><td>10,043</td><td>8,855</td><td>-</td><td>-</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>734</td><td>12,480</td><td>6,281</td><td>805</td><td>-</td><td>-</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>7,702</td><td>8,093</td><td>-</td><td>-</td><td>-</td><td>-</td><td>604</td><td>3,874</td><td>3,855</td><td>-</td><td>-</td><td>19</td></tr><tr><td>August</td><td>144,059</td><td>2,534</td><td>110</td><td>6,036</td><td>-</td><td>-</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>-</td><td>-</td><td>326</td><td>7,458</td><td>6,451</td><td>491</td><td>-</td><td>516</td></tr><tr><td>October</td><td>165,047</td><td>6,597</td><td>14,281</td><td>11,056</td><td>-</td><td>-</td><td>-</td><td>3,062</td><td>162</td><td>7,584</td><td>4,511</td><td>-</td><td>3,062</td><td>11</td></tr><tr><td>November</td><td>166,158</td><td>1,112</td><td>1,632</td><td>5,278</td><td>-</td><td>-</td><td>-</td><td>34</td><td>421</td><td>4,570</td><td>4,525</td><td>-</td><td>34</td><td>11</td></tr><tr><td>December</td><td>165,877</td><td>-281</td><td>13,378</td><td>6,393</td><td>-</td><td>-</td><td>-</td><td>3,544</td><td>437</td><td>10,660</td><td>7,105</td><td>-</td><td>3,544</td><td>11</td></tr><tr><td>1944-January</td><td>170,659</td><td>4,781</td><td>9,449</td><td>9,239</td><td>-</td><td>-</td><td>-</td><td>-</td><td>209</td><td>4,668</td><td>4,628</td><td>-</td><td>-</td><td>40</td></tr></table>
Source: Daily Treasury Statements
Less than $500,000. Excludes certificates of indebtedness, special series.
2/ Consists of special series of certificates of indebtedness issued directly and solely to Federal Reserve Banks.
February 1944
23
Detailed Statement of the Public Debt and Guaranteed Obligations of the United States Government
(In millions of dollars)
<table><tr><th></th><th colspan="3">End of fiscal year</th><th colspan="9">End of month</th></tr><tr><th></th><th>1941</th><th>1942</th><th>1943</th><th>1942 Dec.</th><th>1943 Mar.</th><th>1943 June</th><th>1943 Aug.</th><th>1943 Sept.</th><th>1943 Oct.</th><th>1943 Nov.</th><th>1943 Dec.</th><th>1944 Jan.</th></tr><tr><td colspan="12">Public debt and guaranteed obligations 1/</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public debt</td><td>48,387</td><td>71,968</td><td>135,380</td><td>107,308</td><td>114,287</td><td>135,380</td><td>142,721</td><td>157,053</td><td>163,589</td><td>164,781</td><td>164,508</td><td>167,043</td></tr><tr><td>Guaranteed obligations</td><td>6,360</td><td>4,549</td><td>4,092</td><td>4,283</td><td>4,350</td><td>4,092</td><td>3,934</td><td>3,964</td><td>4,113</td><td>4,154</td><td>4,225</td><td>4,269</td></tr><tr><td>Total</td><td>54,747</td><td>76,517</td><td>139,472</td><td>111,591</td><td>118,637</td><td>139,472</td><td>146,655</td><td>161,018</td><td>167,701</td><td>168,935</td><td>168,732</td><td>171,312</td></tr><tr><td>Matured debt and debt bearing no interest</td><td>585</td><td>474</td><td>1,324</td><td>880</td><td>1,230</td><td>1,324</td><td>1,345</td><td>1,303</td><td>1,464</td><td>1,383</td><td>1,376</td><td>3,629</td></tr><tr><td>Total outstanding</td><td>55,332</td><td>76,991</td><td>140,796</td><td>112,471</td><td>119,867</td><td>140,796</td><td>148,000</td><td>162,321</td><td>169,166</td><td>170,318</td><td>170,108</td><td>174,933</td></tr><tr><td colspan="12">Public debt</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>1,603</td><td>2,508</td><td>11,864</td><td>6,627</td><td>9,234</td><td>11,864</td><td>12,846</td><td>13,054</td><td>13,064</td><td>13,074</td><td>13,072</td><td>13,101</td></tr><tr><td>Certificates of indebtedness</td><td>-</td><td>3,096</td><td>16,561</td><td>10,534</td><td>11,161</td><td>16,561</td><td>17,497</td><td>21,136</td><td>23,199</td><td>23,103</td><td>22,843</td><td>22,843</td></tr><tr><td>Treasury notes</td><td>5,698</td><td>6,689</td><td>9,168</td><td>9,863</td><td>9,797</td><td>9,168</td><td>11,875</td><td>11,596</td><td>11,596</td><td>11,596</td><td>11,175</td><td>11,175</td></tr><tr><td>Treasury bonds</td><td>30,215</td><td>38,085</td><td>57,520</td><td>49,268</td><td>49,273</td><td>57,520</td><td>57,520</td><td>65,444</td><td>67,889</td><td>67,940</td><td>67,944</td><td>67,944</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><td>196</td></tr><tr><td>Total marketable issues</td><td>37,713</td><td>50,573</td><td>95,310</td><td>76,488</td><td>79,662</td><td>95,310</td><td>99,935</td><td>111,426</td><td>115,944</td><td>115,909</td><td>115,230</td><td>115,259</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>15,050</td><td>17,891</td><td>21,256</td><td>22,694</td><td>24,478</td><td>26,056</td><td>26,697</td><td>27,363</td><td>28,901</td></tr><tr><td>Treasury notes - tax and savings series</td><td>-</td><td>3,015</td><td>7,495</td><td>6,384</td><td>6,346</td><td>7,495</td><td>7,703</td><td>8,851</td><td>9,109</td><td>9,278</td><td>8,586</td><td>9,384</td></tr><tr><td>Adjusted service bonds</td><td>241</td><td>229</td><td>222</td><td>224</td><td>223</td><td>222</td><td>221</td><td>220</td><td>220</td><td>220</td><td>219</td><td>219</td></tr><tr><td>Depository bonds</td><td>-</td><td>79</td><td>226</td><td>130</td><td>162</td><td>226</td><td>262</td><td>361</td><td>392</td><td>400</td><td>406</td><td>407</td></tr><tr><td>Total non-marketable issues</td><td>4,555</td><td>13,510</td><td>29,200</td><td>21,788</td><td>24,622</td><td>29,200</td><td>30,879</td><td>33,910</td><td>35,776</td><td>36,595</td><td>36,574</td><td>38,911</td></tr><tr><td>Total public issues</td><td>42,267</td><td>64,083</td><td>124,509</td><td>98,276</td><td>104,284</td><td>124,509</td><td>130,814</td><td>145,336</td><td>151,720</td><td>152,504</td><td>151,805</td><td>154,170</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>178</td><td>103</td><td>177</td><td>77</td><td>77</td><td>77</td><td>77</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>3,462</td><td>3,700</td><td>4,044</td><td>4,031</td><td>4,256</td><td>4,256</td><td>4,256</td><td>4,536</td><td>4,525</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>5</td><td>5</td><td>106</td><td>6</td><td>7</td><td>106</td><td>107</td><td>8</td><td>8</td><td>9</td><td>10</td><td>16</td></tr><tr><td>Government Life Insurance Fund</td><td>531</td><td>537</td><td>538</td><td>526</td><td>539</td><td>538</td><td>547</td><td>500</td><td>502</td><td>504</td><td>508</td><td>510</td></tr><tr><td>Government Retirement Fund</td><td>656</td><td>796</td><td>1,076</td><td>950</td><td>991</td><td>1,076</td><td>1,287</td><td>1,302</td><td>1,314</td><td>1,328</td><td>1,341</td><td>1,356</td></tr><tr><td>National Service Life Insurance Fund</td><td>3</td><td>39</td><td>352</td><td>146</td><td>233</td><td>352</td><td>461</td><td>514</td><td>586</td><td>667</td><td>731</td><td>793</td></tr><tr><td>Postal Savings System</td><td>88</td><td>55</td><td>197</td><td>55</td><td>257</td><td>197</td><td>357</td><td>100</td><td>115</td><td>150</td><td>185</td><td>185</td></tr><tr><td>Canal Zone, Postal Savings System</td><td>-</td><td>1</td><td>2</td><td>2</td><td>3</td><td>2</td><td>2</td><td>3</td><td>3</td><td>3</td><td>3</td><td>3</td></tr><tr><td>Railroad Retirement Account</td><td>74</td><td>92</td><td>178</td><td>174</td><td>176</td><td>178</td><td>321</td><td>310</td><td>332</td><td>321</td><td>310</td><td>333</td></tr><tr><td>Unemployment Trust Fund</td><td>2,273</td><td>3,114</td><td>4,257</td><td>3,597</td><td>3,902</td><td>4,257</td><td>4,598</td><td>4,630</td><td>4,658</td><td>4,946</td><td>4,985</td><td>5,056</td></tr><tr><td>Total special issues</td><td>6,120</td><td>7,885</td><td>10,871</td><td>9,032</td><td>10,004</td><td>10,871</td><td>11,907</td><td>11,717</td><td>11,868</td><td>12,278</td><td>12,703</td><td>12,873</td></tr><tr><td>Total interest-bearing debt</td><td>48,387</td><td>71,968</td><td>135,380</td><td>107,308</td><td>114,287</td><td>135,380</td><td>142,721</td><td>157,053</td><td>163,589</td><td>164,781</td><td>164,508</td><td>167,043</td></tr><tr><td>Prepayments on Fourth War Loan securities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2,193</td></tr><tr><td>Matured debt on which interest has ceased</td><td>205</td><td>98</td><td>141</td><td>75</td><td>89</td><td>141</td><td>164</td><td>124</td><td>291</td><td>209</td><td>202</td><td>258</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>221</td><td>226</td><td>213</td><td>204</td><td>201</td><td>198</td><td>202</td><td>203</td><td>205</td></tr><tr><td>Excess profits tax refund bonds</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>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>369</td><td>708</td><td>766</td><td>774</td><td>774</td><td>773</td><td>770</td><td>768</td><td>762</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>787</td><td>1,130</td><td>1,175</td><td>1,174</td><td>1,172</td><td>1,167</td><td>1,168</td><td>1,168</td><td>1,164</td></tr><tr><td>Total public debt outstanding</td><td>48,961</td><td>72,422</td><td>136,696</td><td>108,170</td><td>115,507</td><td>136,696</td><td>144,059</td><td>158,349</td><td>165,047</td><td>166,158</td><td>165,877</td><td>170,659</td></tr><tr><td colspan="12">Guaranteed obligations 1/</td></tr><tr><td>Interest-bearing debt:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Public issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Marketable issues:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commodity Credit Corporation</td><td>696</td><td>701</td><td>412</td><td>701</td><td>701</td><td>412</td><td>412</td><td>412</td><td>412</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><td>930</td><td>930</td></tr><tr><td>Federal Housing Administration</td><td>17</td><td>21</td><td>23</td><td>22</td><td>23</td><td>22</td><td>22</td><td>22</td><td>22</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><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><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>896</td><td>971</td><td>1,011</td><td>850</td><td>876</td><td>911</td><td>947</td><td>1,008</td><td>1,066</td></tr><tr><td>Total marketable issues</td><td>6,360</td><td>4,549</td><td>4,023</td><td>4,196</td><td>4,272</td><td>4,023</td><td>3,861</td><td>3,888</td><td>3,923</td><td>3,959</td><td>4,020</td><td>4,078</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>Commodity Credit Corporation 3/</td><td>-</td><td>-</td><td>68</td><td>87</td><td>78</td><td>68</td><td>73</td><td>77</td><td>190</td><td>195</td><td>205</td><td>191</td></tr><tr><td>Total interest-bearing debt</td><td>6,360</td><td>4,549</td><td>4,092</td><td>4,283</td><td>4,350</td><td>4,092</td><td>3,934</td><td>3,964</td><td>4,113</td><td>4,154</td><td>4,225</td><td>4,269</td></tr><tr><td>Matured debt on which interest has ceased</td><td>11</td><td>20</td><td>8</td><td>18</td><td>11</td><td>8</td><td>7</td><td>7</td><td>6</td><td>6</td><td>6</td><td>6</td></tr><tr><td>Total guaranteed obligations outstanding</td><td>6,370</td><td>4,568</td><td>4,100</td><td>4,301</td><td>4,360</td><td>4,100</td><td>3,941</td><td>3,971</td><td>4,119</td><td>4,160</td><td>4,230</td><td>4,275</td></tr></table>
Source: Daily Treasury Statements.
* Less than $500,000.
1/ Guaranteed securities sold directly to the Treasury and securi-
2/ Includes prepayments on securities dated February 1, 1944 and offered as part of the Fourth War Loan.
3/ Demand obligations.
INTEREST - BEARING PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT
Public Debt and Guaranteed Obligations
DOLLARS
DOLLA
Billions
Non-Marketable Public Debt
LARS
Lions
B-462
24
Treasury Bulletin
February 1944
25
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">Public issues</th><th rowspan="2">Special issues</th><th colspan="3">Bonds</th><th colspan="3">Public issues</th><th rowspan="2">Special issues</th></tr><tr><th></th><th></th><th>Marketable</th><th>Non-marketable</th><th>Notes</th><th>Marketable</th><th>Non-marketable</th><th>Marketable</th><th>Non-marketable</th><th>Marketable</th><th>Non-marketable</th><th>Certificates of indebtedness</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>27,645</td><td>14,874</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</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>17,368</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>9,147</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>3,770</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>48,387</td><td>30,411</td><td>4,555</td><td>5,698</td><td>-</td><td>-</td><td>1,603</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>6,698</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>11,864</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>1947-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>11,151</td><td>8,232</td><td>9,565</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>5.5</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>11,864</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>8.3</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>65,640</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>9.3</td><td>7.5</td></tr><tr><td>October</td><td>163,589</td><td>68,085</td><td>26,667</td><td>11,596</td><td>9,109</td><td>23,199</td><td>13,064</td><td>11,868</td><td>100.0</td><td>41.6</td><td>16.3</td><td>7.1</td><td>5.6</td><td>14.2</td><td>8.0</td><td>7.3</td></tr><tr><td>November</td><td>164,781</td><td>68,136</td><td>27,316</td><td>11,596</td><td>9,278</td><td>23,103</td><td>13,074</td><td>12,278</td><td>100.0</td><td>41.4</td><td>16.6</td><td>7.0</td><td>5.6</td><td>14.0</td><td>7.9</td><td>7.5</td></tr><tr><td>December</td><td>164,508</td><td>68,140</td><td>27,988</td><td>11,175</td><td>8,586</td><td>22,343</td><td>13,072</td><td>12,703</td><td>100.0</td><td>41.4</td><td>17.0</td><td>6.8</td><td>5.2</td><td>13.9</td><td>7.9</td><td>7.7</td></tr><tr><td>1944-January</td><td>167,043</td><td>67,944</td><td>29,527</td><td>11,175</td><td>9,384</td><td>22,843</td><td>13,101</td><td>12,873</td><td>100.0</td><td>40.8</td><td>17.7</td><td>6.7</td><td>5.6</td><td>13.7</td><td>7.8</td><td>7.7</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 Corporation</th><th>Tennessee Valley Authority</th></tr><tr><td>1935</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>52</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>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>4,408</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>4,787</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>1,350</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><tr><td>October</td><td>7,477</td><td>700</td><td>-</td><td>283</td><td>36</td><td>6,401</td><td>57</td></tr><tr><td>November</td><td>7,560</td><td>800</td><td>-</td><td>283</td><td>9</td><td>6,411</td><td>57</td></tr><tr><td>December</td><td>7,853</td><td>800</td><td>-</td><td>283</td><td>-</td><td>6,713</td><td>57</td></tr><tr><td>1944-January</td><td>8,045</td><td>900</td><td>-</td><td>283</td><td>-</td><td>6,806</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.
26
Treasury Bulletin
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>27,045</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>32,959</td><td>845</td><td>2.562</td><td>4,717</td><td>125</td><td>2.650</td></tr><tr><td>1937</td><td>40,465</td><td>1,047</td><td>2.588</td><td>35,800</td><td>924</td><td>2.582</td><td>4,665</td><td>123</td><td>2.633</td></tr><tr><td>1938</td><td>41,428</td><td>1,068</td><td>2.579</td><td>36,576</td><td>947</td><td>2.589</td><td>4,853</td><td>121</td><td>2.498</td></tr><tr><td>1939</td><td>45,336</td><td>1,149</td><td>2.534</td><td>39,886</td><td>1,037</td><td>2.600</td><td>5,450</td><td>112</td><td>2.052</td></tr><tr><td>1940</td><td>47,874</td><td>1,203</td><td>2.514</td><td>42,376</td><td>1,095</td><td>2.583</td><td>5,498</td><td>109</td><td>1.978</td></tr><tr><td>1941</td><td>54,747</td><td>1,335</td><td>2.438</td><td>48,387</td><td>1,218</td><td>2.518</td><td>6,360</td><td>117</td><td>1.834</td></tr><tr><td>1942</td><td>76,517</td><td>1,729</td><td>2.260</td><td>71,968</td><td>1,644</td><td>2.285</td><td>4,549</td><td>85</td><td>1.861</td></tr><tr><td>1943</td><td>139,472</td><td>2,759</td><td>1.978</td><td>135,380</td><td>2,679</td><td>1.979</td><td>4,092</td><td>81</td><td>1.968</td></tr><tr><td>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>2,652</td><td>1.993</td><td>128,043</td><td>2,569</td><td>1.997</td><td>4,353</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>146,555</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><tr><td>October</td><td>167,701</td><td>3,253</td><td>1.940</td><td>153,589</td><td>3,173</td><td>1.940</td><td>4,113</td><td>80</td><td>1.938</td></tr><tr><td>November</td><td>168,935</td><td>3,283</td><td>1.943</td><td>164,781</td><td>3,203</td><td>1.944</td><td>4,154</td><td>80</td><td>1.928</td></tr><tr><td>December</td><td>168,732</td><td>3,298</td><td>1.954</td><td>164,508</td><td>3,217</td><td>1.956</td><td>4,225</td><td>81</td><td>1.912</td></tr><tr><td>1944-January</td><td>171,312</td><td>3,354</td><td>1.958</td><td>167,043</td><td>3,273</td><td>1.959</td><td>4,269</td><td>81</td><td>1.904</td></tr></table>
Source: 1/ Daily Treasury Statements. 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-B are considered to yield 2.90 percent per annum and Series Y is considered to yield 2.53 percent. 2/ Guaranteed securities sold directly to the Treasury, and secu-
rities guaranteed as to interest only, are not included in this table.
February 1944
27
Maturity Schedule of Interest-Bearing Public Marketable Securities Issued or Guaranteed by the United States
s of January 31, 1944
(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>1944</td><td>Treasury bills</td><td>13,101</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>1-3/8% FPHA note B - 2/1/44</td><td>114</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>7/8% Ctf. of 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>95</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3-1/4% PPMC bond</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Apr.</td><td>7/8% Ctf. of indebted. B - 3/15/44-64</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</td><td>1,519</td><td></td><td></td><td></td><td></td></tr><tr><td>May</td><td>7/8% Ctf. of indebted. C - 4/15/44-65</td><td>1,655</td><td>779</td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% EOLC bond</td><td></td><td>835</td><td></td><td></td><td></td></tr><tr><td>May</td><td>3% PPMC bond</td><td>416</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>3/4% Treasury note A - 6/15/44</td><td>416</td><td></td><td></td><td></td><td></td></tr><tr><td>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>4,122</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>Oct.</td><td>7/8% Ctf. of indebted. F - 10/1/44</td><td>3,519</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>7/8% Ctf. of indebted. G - 12/1/44</td><td>3,540</td><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1/4% Treasury bond</td><td></td><td>1,037</td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td>39,997</td><td>2,745</td><td></td><td>42,742</td><td>39,997</td></tr><tr><td>1945-Jan.</td><td>1% RFC note X-A - 1/1/45</td><td>290</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>170</td><td></td><td></td><td></td><td></td></tr><tr><td>Jan.</td><td>1% RFC note X-C - 1/1/45</td><td>35</td><td></td><td></td><td></td><td></td></tr><tr><td>Feb.</td><td>1-1/3% CCC note G - 2/15/45</td><td>412</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3/4% Treasury note A - 3/15/45</td><td>718</td><td></td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>1-1/4% Treasury note C - 3/15/45</td><td>1,606</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% EOLC bond</td><td></td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond</td><td>541</td><td>1,214</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/2% Treasury bond</td><td>531</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></td><td>1,969</td><td></td><td>6,271</td><td>4,302</td></tr><tr><td>Total</td><td></td><td>4,302</td><td>1,969</td><td></td><td></td><td></td></tr><tr><td>1946-Jan.</td><td>3% Conversion bond</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</td><td></td><td>489</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond</td><td></td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3-1/8% Treasury bond</td><td>3,261</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></td><td></td><td></td><td></td><td></td></tr><tr><td>Total</td><td></td><td>3,779</td><td>2,344</td><td></td><td>6,123</td><td>3,779</td></tr><tr><td>1947-Jeo.</td><td>3% Conversion bond</td><td>13</td><td></td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-1/2% EOLC bond</td><td></td><td>755</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-3/4% Treasury bond</td><td>2,707</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></td><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond</td><td>701</td><td>759</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond</td><td></td><td>1,969</td><td></td><td>4,180</td><td>5,391</td></tr><tr><td>Total</td><td></td><td>3,421</td><td>759</td><td></td><td></td><td></td></tr><tr><td>1948-Mar.</td><td>2% Treasury bond</td><td></td><td>1,115</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>2-1/4% Treasury bond</td><td></td><td>1,223</td><td></td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond</td><td>3,062</td><td>1,036</td><td></td><td></td><td></td></tr><tr><td>June</td><td>1-3/4% Treasury bond</td><td>451</td><td></td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/2% Treasury bond</td><td></td><td>571</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2% Treasury bond</td><td></td><td>1,036</td><td></td><td>6,423</td><td>4,549</td></tr><tr><td>Total</td><td></td><td>3,513</td><td>2,910</td><td></td><td></td><td></td></tr></table>
(Continued on following page)
28
Treasury Bulletin
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States
As of January 31, 1944 - (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 leases</th><th>Callable issues classified by year of: First call</th><th>Final maturity</th><th>Fixed-maturity leases plus callable leases classified by year of first call</th><th>Fixed-maturity leases plus callable leases classified by year of final esturity</th></tr><tr><td>1949-May</td><td>2% FMC bond</td><td>- 5/15/49-49</td><td></td><td>835</td><td></td><td></td></tr><tr><td>June</td><td>3-1/3% Treasury bond</td><td>- 6/15/49-49</td><td></td><td>819</td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond</td><td>- 6/15/49-51</td><td>1,014</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/49-51</td><td>1,292</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>1-1/3% Treasury bond</td><td>- 12/15/49-52</td><td>491</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/3% Treasury bond</td><td>- 12/15/49-53</td><td>1,786</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/49-51</td><td>2,098</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>6,682</td><td>1,654</td><td>6,682</td><td>1,654</td></tr><tr><td>1950-Mar.</td><td>3% Treasury bond</td><td>- 3/15/48-50</td><td></td><td>1,115</td><td></td><td></td></tr><tr><td>Mar.</td><td>3% Treasury bond</td><td>- 3/15/50-52</td><td>1,963</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/3% Treasury bond</td><td>- 9/15/50-52</td><td>1,186</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/50-52</td><td>4,939</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/48-50</td><td></td><td>571</td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>8,088</td><td>1,687</td><td>8,088</td><td>1,687</td></tr><tr><td>1951-Mar.</td><td>2-3/4% Treasury bond</td><td>- 3/15/48-51</td><td></td><td>1,221</td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond</td><td>- 6/15/49-51</td><td></td><td>1,014</td><td></td><td></td></tr><tr><td>June</td><td>2-3/4% Treasury bond</td><td>- 6/15/51-54</td><td>1,627</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/49-51</td><td></td><td>1,292</td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/51-53</td><td>7,986</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/51-55</td><td>755</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/4% Treasury bond</td><td>- 12/15/51-53</td><td>1,118</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/51-55</td><td>510</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/49-51</td><td></td><td>2,098</td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>11,996</td><td>5,628</td><td>11,996</td><td>5,628</td></tr><tr><td>1952-Mar.</td><td>2-1/3% Treasury bond</td><td>- 3/15/52-54</td><td>1,024</td><td></td><td></td><td></td></tr><tr><td>Mar.</td><td>3% Treasury bond</td><td>- 3/15/50-52</td><td></td><td>1,963</td><td></td><td></td></tr><tr><td>May</td><td>3% HOLC bond</td><td>- 5/1/44-52</td><td></td><td>779</td><td></td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>- 6/15/52-55</td><td>1,501</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>2-1/3% Treasury bond</td><td>- 9/15/50-52</td><td></td><td>1,186</td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/50-52</td><td></td><td>4,939</td><td></td><td></td></tr><tr><td>Oct.</td><td>4-1/4% Treasury bond</td><td>- 10/15/47-52</td><td></td><td>759</td><td></td><td></td></tr><tr><td>Dec.</td><td>3-1/3% Treasury bond</td><td>- 12/15/49-52</td><td></td><td>491</td><td></td><td></td></tr><tr><td></td><td>Total</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>3% Treasury bond</td><td>- 6/15/53-55</td><td>725</td><td></td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/51-53</td><td></td><td>7,986</td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/3% Treasury bond</td><td>- 12/15/49-53</td><td></td><td>1,786</td><td></td><td></td></tr><tr><td>Dec.</td><td>2-1/4% Treasury bond</td><td>- 12/15/51-53</td><td></td><td>1,118</td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>725</td><td>10,890</td><td>725</td><td>10,890</td></tr><tr><td>1954-Mar.</td><td>2-1/3% Treasury bond</td><td>- 3/15/52-54</td><td></td><td>1,024</td><td></td><td></td></tr><tr><td>June</td><td>2-3/4% Treasury bond</td><td>- 6/15/51-54</td><td></td><td>1,627</td><td></td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>- 6/15/54-56</td><td>681</td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/44-54</td><td></td><td>1,037</td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>681</td><td>3,687</td><td>681</td><td>3,687</td></tr><tr><td>1955-Mar.</td><td>2-7/8% Treasury bond</td><td>- 3/15/55-60</td><td>2,611</td><td></td><td></td><td></td></tr><tr><td>June</td><td>2-1/4% Treasury bond</td><td>- 6/15/52-55</td><td></td><td>1,501</td><td></td><td></td></tr><tr><td>June</td><td>3% Treasury bond</td><td>- 6/15/53-55</td><td></td><td>725</td><td></td><td></td></tr><tr><td>Sept.</td><td>3% Treasury bond</td><td>- 9/15/51-55</td><td></td><td>755</td><td></td><td></td></tr><tr><td>Dec.</td><td>3% Treasury bond</td><td>- 12/15/51-55</td><td></td><td>510</td><td></td><td></td></tr><tr><td></td><td>Total</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)
February 1944
29
Maturity Schedule of Interest-Bearing Public Marketable Securities
Issued or Guaranteed by the United States 1/ As of January 31, 1944 - (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>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>1956-Mar....</td><td>3-3/4% Treasury bond - 3/15/46-56</td><td></td><td>1,449</td><td>489</td><td></td><td></td></tr><tr><td>Mar....</td><td>2-1/2% Treasury bond - 3/15/56-58</td><td></td><td></td><td>681</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/4% Treasury bond - 6/15/54-56</td><td></td><td>982</td><td></td><td></td><td></td></tr><tr><td>Sept....</td><td>2-3/4% Treasury bond - 9/15/56-59</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>2,431</td><td>1,170</td><td>2,431</td><td>1,170</td></tr><tr><td>1957....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1958-Mar....</td><td>2-1/2% Treasury bond - 3/15/56-58</td><td></td><td></td><td>1,449</td><td></td><td></td></tr><tr><td>June....</td><td>2-3/4% Treasury bond - 6/15/58-63</td><td></td><td>919</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>919</td><td>1,449</td><td>919</td><td>1,449</td></tr><tr><td>1959-Sept....</td><td>2-3/4% Treasury bond - 9/15/56-59</td><td></td><td></td><td>982</td><td></td><td></td></tr><tr><td>1960-Mar....</td><td>2-7/8% Treasury bond - 3/15/55-60</td><td></td><td></td><td>2,611</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-3/4% Treasury bond - 12/15/60-65</td><td></td><td>1,485</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>1,485</td><td>2,611</td><td>1,485</td><td>2,611</td></tr><tr><td>1961-June....</td><td>3% Panama Canal bond - 6/1/61</td><td>50</td><td></td><td></td><td>50</td><td>50</td></tr><tr><td>1962-June....</td><td>2-1/2% Treasury bond - 6/15/62-67</td><td></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 - 6/15/58-63</td><td></td><td></td><td>919</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond - 12/15/63-68</td><td></td><td>2,831</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>2,831</td><td>919</td><td>2,831</td><td>919</td></tr><tr><td>1964-Mar....</td><td>3-1/4% ITMC bond - 3/15/44-64</td><td></td><td></td><td>95</td><td></td><td></td></tr><tr><td>June....</td><td>2-1/2% Treasury bond - 6/15/64-69</td><td></td><td>3,762</td><td></td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond - 12/15/64-69</td><td></td><td>3,838</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>7,600</td><td>95</td><td>7,600</td><td>95</td></tr><tr><td>1965-Dec....</td><td>2-3/4% Treasury bond - 12/15/60-65</td><td></td><td></td><td>1,485</td><td></td><td></td></tr><tr><td>1966....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1967-June....</td><td>2-1/2% Treasury bond - 6/15/62-67</td><td></td><td></td><td>2,118</td><td></td><td></td></tr><tr><td>Sept....</td><td>2-1/2% Treasury bond - 9/15/67-72</td><td></td><td>2,716</td><td></td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td>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 - 12/15/63-68</td><td></td><td></td><td>2,831</td><td></td><td></td></tr><tr><td>1969-June....</td><td>2-1/2% Treasury bond - 6/15/64-69</td><td></td><td></td><td>3,762</td><td></td><td></td></tr><tr><td>Dec....</td><td>2-1/2% Treasury bond - 12/15/64-69</td><td></td><td></td><td>3,838</td><td></td><td></td></tr><tr><td></td><td>Total</td><td></td><td></td><td>7,600</td><td></td><td>7,600</td></tr><tr><td>1970....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1971....</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1972-Sept....</td><td>2-1/2% Treasury bond - 9/15/67-72</td><td></td><td></td><td>2,716</td><td></td><td></td></tr></table>
Source: Daily Treasury Statement, and reports to the Treasury. 1/ Excludes postal savings bonds and Federal Housing Administration debentures. 2/ It should be noted that callable issues appear twice in this column, once in the year of first call and again in the year of final maturity. Callable issues with respect to which a definite notice of call has been made, however, are listed as fixed maturities. The abbreviations refer to the following
corporations: Home Owners' Loan Corporation, Reconstruction Finance Corporation, Commodity Credit Corporation, Federal Farm Mortgage Corporation, and Federal Public Housing Authority.
3c
Treasury Bulletin
Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness
Since January 1, 1940
(in millions of dollars)
<table><tr><th rowspan="2">Date of announcement</th><th rowspan="2">Date of financing</th><th colspan="6">Description of new Treasury security 2/</th><th colspan="4">Amount 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>Call and maturity dates</th><th colspan="2">Term</th><th colspan="2">For cash</th><th colspan="2">For exchange</th><th>Class of security</th><th>Coupon rate (percent)</th><th>Call and maturity dates</th><th>Date of original issue</th></tr><tr><th></th><th></th><th>Notes</th><th>Bonds</th><th></th><th>Yrs. Mos.</th><th>Yrs. Mos.</th><th>Total</th><th>Government accounts</th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td colspan="17">Offerings in 1941</td></tr><tr><td>1/23</td><td>1/31</td><td>1/31/41</td><td>3/4</td><td>1</td><td>9/15/44</td><td>-</td><td>3 7-1/2</td><td>635</td><td>635</td><td>-</td><td>5</td><td>2.756</td><td>-</td><td>-</td><td>3/3/8</td><td>3/15/41-43</td><td>3/16/31</td></tr><tr><td>2/25</td><td>3/15</td><td>3/15/41</td><td>3/4</td><td>1</td><td>3/15/43</td><td>-</td><td>2</td><td>32</td><td>-</td><td>-</td><td>28</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>3/19</td><td>3/31</td><td>3/15/41</td><td>3/4</td><td>1</td><td>3/15/43</td><td>3/15/43-50</td><td>7</td><td>1.116</td><td>-</td><td>-</td><td>482</td><td>634</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>5/22</td><td>6/2</td><td>3/15/41</td><td>3/4</td><td>1</td><td>3/15/43</td><td>3/15/52-54</td><td>10 11-1/2</td><td>12 11-1/2</td><td>1.024</td><td>526</td><td>50</td><td>33</td><td>6.145</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>10/9</td><td>10/20</td><td>6/2/41</td><td>2-1/2</td><td>1</td><td>3/15/43-58</td><td>14 9-1/2</td><td>16 9-1/2</td><td>1.449</td><td>662</td><td>-</td><td>787</td><td>8.268</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>10/20/41</td><td>2-1/2</td><td>1</td><td>9/15/67-72</td><td>25 10-3/4</td><td>30 10-3/4</td><td>1.596</td><td>1.307</td><td>100</td><td>189</td><td>10.446</td><td>-</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</td><td>2</td><td>1</td><td>3/15/46</td><td>-</td><td>4 4-1/2</td><td>503</td><td>-</td><td>-</td><td>2995</td><td>2035</td><td>-</td><td>RPC note</td><td>7/8</td><td>11/1/41</td><td>11/1/38</td></tr><tr><td></td><td></td><td>10/20/41</td><td>2-1/2</td><td>1</td><td>9/15/67-72</td><td>25 10-3/4</td><td>30 10-3/4</td><td>1.120</td><td>1.070</td><td>50</td><td>-</td><td>4.728</td><td>6.979</td><td>CCC note</td><td>1</td><td>11/15/41</td><td>11/2/39</td></tr><tr><td colspan="17">Offerings in 1942</td></tr><tr><td>1/11</td><td>1/15</td><td>1/15/42</td><td>-</td><td>2</td><td>6/15/49-51</td><td>7 5</td><td>9 5</td><td>1.014</td><td>-</td><td>-</td><td>406</td><td>3085</td><td>-</td><td>Treas. note</td><td>1-3/4</td><td>3/15/42</td><td>6/15/37</td></tr><tr><td>2/13</td><td>2/25</td><td>2/25/42</td><td>2-1/4</td><td>1</td><td>6/15/52-55</td><td>10 3-2/3</td><td>13 3-2/3</td><td>1.511</td><td>1.511</td><td>-</td><td>-</td><td>4.697</td><td>-</td><td>RPC note</td><td>7/8</td><td>1/15/42</td><td>2/15/39</td></tr><tr><td>4/6</td><td>4/15</td><td>4/15/42</td><td>1/2</td><td>16</td><td>11/1/42</td><td>-</td><td>6-1/2</td><td>1.507</td><td>1.507</td><td>-</td><td>-</td><td>3.062</td><td>-</td><td>PPC bond</td><td>3</td><td>1/15/42-47</td><td>1/15/35</td></tr><tr><td>5/4</td><td>5/5</td><td>5/5/42</td><td>2-1/2</td><td>1</td><td>6/15/62-67</td><td>20 1-1/3</td><td>25 1-1/3</td><td>882</td><td>882</td><td>-</td><td>-</td><td>882</td><td>-</td><td>PPC bond</td><td>2-3/4</td><td>3/1/42-47</td><td>3/1/35</td></tr><tr><td>5/25</td><td>6/5</td><td>5/15/42</td><td>1-1/2</td><td>1</td><td>9/15/49-51</td><td>7 4</td><td>9 4</td><td>1.292</td><td>1.292</td><td>-</td><td>846</td><td>272</td><td>-</td><td>HOLC bond</td><td>2-1/4</td><td>7/1/42-44</td><td>7/1/35</td></tr><tr><td>6/18</td><td>6/25</td><td>6/25/42</td><td>5/8</td><td>16</td><td>2/1/43</td><td>-</td><td>7</td><td>1.588</td><td>1.588</td><td>-</td><td>-</td><td>3.114</td><td>-</td><td>RPC note</td><td>1</td><td>7/1/42</td><td>11/10/39</td></tr><tr><td>7/8</td><td>7/15</td><td>7/15/42</td><td>2</td><td>1</td><td>12/15/49-51</td><td>7 5</td><td>9 5</td><td>2.098</td><td>2.098</td><td>-</td><td>-</td><td>3.849</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>8/3</td><td>8/15</td><td>5/15/42</td><td>2-1/2</td><td>1</td><td>6/15/62-67</td><td>20 1-1/3</td><td>25 1-1/3</td><td>1.236</td><td>1.236</td><td>-</td><td>-</td><td>1.236</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>8/6</td><td>8/15</td><td>8/15/42</td><td>7/8</td><td>16</td><td>8/1/43</td><td>-</td><td>11-1/2</td><td>1.609</td><td>1.609</td><td>-</td><td>-</td><td>3.273</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/10</td><td>9/21</td><td>9/21/42</td><td>.65</td><td>16</td><td>5/1/43</td><td>-</td><td>7-1/3</td><td>1.506</td><td>1.506</td><td>-</td><td>-</td><td>1.992</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>9/10</td><td>9/25</td><td>9/25/42</td><td>1-1/4</td><td>1</td><td>3/15/45</td><td>-</td><td>5-2/3</td><td>1.606</td><td>1.606</td><td>-</td><td>-</td><td>3.637</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/8</td><td>10/15</td><td>6/15/42</td><td>1-1/2</td><td>1</td><td>12/15/46</td><td>-</td><td>4 6-1/3</td><td>2.142</td><td>2.142</td><td>-</td><td>-</td><td>2.142</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>10/8</td><td>10/19</td><td>10/19/42</td><td>2</td><td>1</td><td>3/15/50-52</td><td>7 5</td><td>9 5</td><td>1.963</td><td>1.963</td><td>-</td><td>-</td><td>1.963</td><td>-</td><td>Ct. of in- debtedness</td><td>1/2</td><td>11/1/42</td><td>4/15/42</td></tr><tr><td>10/26</td><td>11/2</td><td>11/2/42</td><td>7/8</td><td>16</td><td>11/1/43</td><td>-</td><td>1</td><td>2.035</td><td>2.035</td><td>1/</td><td>-</td><td>3.105</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>2-1/2</td><td>1</td><td>12/15/63-68</td><td>21 1/2</td><td>26 1/2</td><td>2.831</td><td>2.831</td><td>-</td><td>-</td><td>2.831</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>1-3/4</td><td>1</td><td>6/15/48</td><td>-</td><td>5 6-1/2</td><td>3.062</td><td>3.062</td><td>-</td><td>-</td><td>3.364</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>11/30</td><td>12/1</td><td>12/1/42</td><td>7/8</td><td>16</td><td>12/1/43</td><td>-</td><td>1</td><td>3.800</td><td>3.800</td><td>-</td><td>-</td><td>5.184</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td colspan="17">Offerings in 1943</td></tr><tr><td>1/21</td><td>2/1</td><td>2/1/43</td><td>7/8</td><td>16</td><td>2/1/44</td><td>-</td><td>1</td><td>2.211</td><td>2.211</td><td>1/</td><td>-</td><td>6.402</td><td>-</td><td>Ct. of in- debtedness</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>2</td><td>1</td><td>9/15/50-52</td><td>7 5</td><td>9 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><td>-</td></tr><tr><td>4/12</td><td>4/15</td><td>4/15/43</td><td>2-1/2</td><td>1</td><td>6/15/64-69</td><td>21 2</td><td>26 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><td>-</td></tr><tr><td>4/19</td><td>5/1</td><td>5/1/43</td><td>7/8</td><td>16</td><td>5/1/44</td><td>-</td><td>1</td><td>1.655</td><td>-</td><td>-</td><td>1.3735</td><td>-</td><td>Ct. of in- debtedness</td><td>.65</td><td>5/1/43</td><td>9/21/42</td></tr><tr><td>6/28</td><td>7/12</td><td>7/12/43</td><td>1-1/2</td><td>1</td><td>9/15/47</td><td>-</td><td>4 2</td><td>2.707</td><td>2.707</td><td>-</td><td>2825</td><td>-</td><td>CCC note</td><td>3/4</td><td>5/1/43</td><td>8/1/40</td></tr><tr><td>7/22</td><td>8/2</td><td>8/2/43</td><td>7/8</td><td>16</td><td>8/1/44</td><td>-</td><td>1</td><td>2.545</td><td>989</td><td>-</td><td>1.556</td><td>5.484</td><td>Ct. of in- debtedness</td><td>7/8</td><td>8/1/43</td><td>8/15/42</td></tr><tr><td>9/9</td><td>9/15</td><td>9/15/43</td><td>2-1/2</td><td>1</td><td>12/15/64-69</td><td>21 3</td><td>26 3</td><td>3.779</td><td>3.779</td><td>-</td><td>-</td><td>3.779</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>2</td><td>1</td><td>9/15/51-53</td><td>8</td><td>10</td><td>5.257</td><td>5.257</td><td>-</td><td>-</td><td>5.257</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>7/8</td><td>16</td><td>9/1/44</td><td>-</td><td>11-1/2</td><td>4.122</td><td>4.122</td><td>-</td><td>-</td><td>4.122</td><td>-</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>7/8</td><td>16</td><td>10/1/44</td><td>-</td><td>11-1/2</td><td>3.519</td><td>1.580</td><td>-</td><td>1.939</td><td>5.391</td><td>Ct. of in- debtedness</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</td><td>2-1/2</td><td>1</td><td>12/15/64-69</td><td>21 3</td><td>26 3</td><td>59</td><td>-</td><td>-</td><td>59</td><td>-</td><td>Treas. bond</td><td>3-1/4</td><td>10/15/43-45</td><td>10/15/33</td></tr><tr><td>11/22</td><td>12/1</td><td>12/1/43</td><td>7/8</td><td>16</td><td>12/1/44</td><td>-</td><td>1</td><td>3.540</td><td>-</td><td>-</td><td>3.540</td><td>-</td><td>Ct. of in- debtedness</td><td>7/8</td><td>12/1/43</td><td>12/1/42</td></tr><tr><td colspan="17">Offerings in 1944</td></tr><tr><td>1/18</td><td>2/1</td><td>2/1/44</td><td>2-1/4</td><td>1</td><td>9/15/56-59</td><td>12 7-1/2</td><td>15 7-1/2</td><td>3.727 p</td><td>3.727 p</td><td>-</td><td>-</td><td>3.727 p</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1/18</td><td>2/1</td><td>2/1/44</td><td>2-1/2</td><td>1</td><td>3/15/65-70</td><td>21 1-1/2</td><td>26 1-1/2</td><td>2.212 p</td><td>2.212 p</td><td>-</td><td>-</td><td>2.212 p</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1/24</td><td>2/1</td><td>2/1/44</td><td>90</td><td>1</td><td>3/1/45</td><td>-</td><td>1</td><td>5.047 p</td><td>5.047 p</td><td>-</td><td>-</td><td>5.047 p</td><td>-</td><td>Ct. of in- debtedness</td><td>7/8</td><td>2/1/44</td><td>2/1/43</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. 
2 Taxable issues. 
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.
February 1944
31
Offerings and Maturities of Treasury Bills
Table 1.- Description of Treasury Bill Offerings and Amount of Maturities
(Amounts in millions of dollars)
<table><tr><th rowspan="2">Date of issue</th><th colspan="6">Description of new issue</th><th rowspan="2">Amount of maturlog issue (as of date shown in first column)</th><th rowspan="2">Total bills outstanding (as of date shown in first column)</th></tr><tr><th>Maturity date</th><th>Number of days to maturity</th><th>Amount of bids tendered</th><th colspan="3">Amount of bids accepted</th></tr><tr><th></th><th></th><th></th><th></th><th>Total amount</th><th>Amount on competitive basis</th><th>Amount on fixed-price basis 1</th><th></th><th></th></tr><tr><td>1943-Jan. 6</td><td>1943-Apr. 7</td><td>91</td><td>1,242.6</td><td>500.1</td><td>500.1</td><td></td><td>400.2</td><td>6,827.4</td></tr><tr><td>Jan. 13</td><td>Apr. 11</td><td>91</td><td>1,228.7</td><td>601.5</td><td>601.5</td><td></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>701.5</td><td></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>702.2</td><td></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>701.9</td><td></td><td>500.1</td><td>7,624.1</td></tr><tr><td>Feb. 10</td><td>May 12</td><td>91</td><td>1,044.9</td><td>707.3</td><td>707.8</td><td></td><td>501.4</td><td>7,830.8</td></tr><tr><td>Feb. 17</td><td>May 19</td><td>91</td><td>1,114.2</td><td>703.0</td><td>703.0</td><td></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>700.8</td><td></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>701.3</td><td></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>705.3</td><td></td><td>504.8</td><td>8,630.4</td></tr><tr><td>Mar. 17</td><td>June 15</td><td>91</td><td>1,302.7</td><td>802.2</td><td>802.2</td><td></td><td>600.8</td><td>8,831.8</td></tr><tr><td>Mar. 24</td><td>June 23</td><td>91</td><td>1,329.9</td><td>802.1</td><td>802.1</td><td></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>805.1</td><td></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>804.7</td><td></td><td>600.1</td><td>9,439.4</td></tr><tr><td>Apr. 14</td><td>July 14</td><td>91</td><td>1,359.6</td><td>804.0</td><td>804.0</td><td></td><td>601.5</td><td>9,941.9</td></tr><tr><td>Apr. 21</td><td>July 21</td><td>91</td><td>1,622.3</td><td>904.7</td><td>904.7</td><td></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>901.8</td><td></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>901.8</td><td></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>826.4</td><td>80.6</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>814.3</td><td>93.5</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>823.0</td><td>82.5</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>843.7</td><td>62.3</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>820.5</td><td>88.1</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>921.3</td><td>79.2</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>934.1</td><td>71.9</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>947.4</td><td>58.4</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>962.5</td><td>40.6</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>932.8</td><td>68.4</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>933.0</td><td>70.7</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>954.0</td><td>48.8</td><td>901.8</td><td>12,459.8</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>948.5</td><td>57.4</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>932.2</td><td>62.5</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>929.4</td><td>75.9</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>934.0</td><td>68.3</td><td>905.4</td><td>12,946.0</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>942.3</td><td>59.5</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>950.4</td><td>54.5</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>932.2</td><td>76.4</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>940.5</td><td>77.3</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>943.2</td><td>59.8</td><td>1,005.8</td><td>13,054.1</td></tr><tr><td>Oct. 7</td><td>1944-Jan. 6</td><td>91</td><td>1,239.5</td><td>1,006.9</td><td>955.1</td><td>51.9</td><td>1,003.1</td><td>13,058.9</td></tr><tr><td>Oct. 14</td><td>Jan. 13</td><td>91</td><td>1,184.8</td><td>1,004.7</td><td>951.3</td><td>53.4</td><td>1,001.2</td><td>13,062.4</td></tr><tr><td>Oct. 21</td><td>Jan. 20</td><td>91</td><td>1,413.9</td><td>1,000.8</td><td>928.9</td><td>71.8</td><td>1,003.7</td><td>13,059.5</td></tr><tr><td>Oct. 28</td><td>Jan. 27</td><td>91</td><td>1,285.5</td><td>1,008.1</td><td>940.3</td><td>67.8</td><td>1,002.8</td><td>13,064.4</td></tr><tr><td>Nov. 4</td><td>Feb. 3</td><td>91</td><td>1,142.7</td><td>1,002.6</td><td>934.8</td><td>67.8</td><td>1,005.8</td><td>13,061.5</td></tr><tr><td>Nov. 12</td><td>Feb. 10</td><td>90</td><td>1,247.1</td><td>1,004.7</td><td>929.1</td><td>75.6</td><td>994.7</td><td>13,071.5</td></tr><tr><td>Nov. 18</td><td>Feb. 17</td><td>91</td><td>1,221.6</td><td>1,001.3</td><td>927.3</td><td>74.0</td><td>1,005.3</td><td>13,067.5</td></tr><tr><td>Nov. 26</td><td>Feb. 24</td><td>90</td><td>1,621.6</td><td>1,008.7</td><td>930.5</td><td>78.1</td><td>1,002.3</td><td>13,073.8</td></tr><tr><td>Dec. 2</td><td>Mar. 2</td><td>91</td><td>1,544.0</td><td>1,006.4</td><td>942.5</td><td>63.9</td><td>1,001.8</td><td>13,078.3</td></tr><tr><td>Dec. 9</td><td>Mar. 9</td><td>91</td><td>1,694.3</td><td>1,011.4</td><td>947.6</td><td>63.8</td><td>1,004.9</td><td>13,084.2</td></tr><tr><td>Dec. 16</td><td>Mar. 16</td><td>91</td><td>1,815.0</td><td>1,000.2</td><td>934.4</td><td>65.8</td><td>1,008.6</td><td>13,076.3</td></tr><tr><td>Dec. 23</td><td>Mar. 23</td><td>91</td><td>1,791.7</td><td>1,005.5</td><td>944.8</td><td>60.7</td><td>1,017.7</td><td>13,064.2</td></tr><tr><td>Dec. 30</td><td>Mar. 30</td><td>91</td><td>1,771.8</td><td>1,011.0</td><td>969.0</td><td>41.9</td><td>1,003.0</td><td>13,072.2</td></tr><tr><td>1944-Jan. 6</td><td>Apr. 6</td><td>91</td><td>2,255.5</td><td>1,014.8</td><td>966.7</td><td>48.1</td><td>1,006.9</td><td>13,080.1</td></tr><tr><td>Jan. 13</td><td>Apr. 13</td><td>91</td><td>2,173.7</td><td>1,000.2</td><td>942.8</td><td>57.4</td><td>1,004.7</td><td>13,075.6</td></tr><tr><td>Jan. 20</td><td>Apr. 20</td><td>91</td><td>2,273.5</td><td>1,017.2</td><td>957.7</td><td>59.5</td><td>1,000.8</td><td>13,092.0</td></tr><tr><td>Jan. 27</td><td>Apr. 27</td><td>91</td><td>2,291.5</td><td>1,016.9</td><td>950.0</td><td>66.9</td><td>1,008.1</td><td>13,100.9</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/ Commencing with the offering of Treasury bills dated May 12, 1943, tenders for bills in the amount of $100,000 or less from any one bidder have been accepted in full at a fixed price of 99.905 per hundred.
32
Treasury Bulletin
Offerings and Maturities of Treasury Bills - (Continued)
Table 2.- Prices and Rates of Treasury Bill Offerings
<table><tr><th rowspan="2">Date of issue</th><th colspan="2">Total bids accepted</th><th colspan="4">Competitive bids accepted</th></tr><tr><th>Average price per hundred</th><th>Equivalent average rate 1/ (Percent)</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th>Price per hundred</th><th>Equivalent rate 1/ (Percent)</th><th>Price per hundred</th><th>Equivalent rate 1/ (Percent)</th></tr><tr><td>1943-Jan. 5</td><td>99.910</td><td>0.357</td><td>99.925 2/</td><td>0.297</td><td>99.907</td><td>0.368</td></tr><tr><td>Jan. 3</td><td>99.908</td><td>0.363</td><td>99.930</td><td>0.277</td><td>99.907</td><td>0.368</td></tr><tr><td>Jan. 20</td><td>99.907</td><td>0.366</td><td>99.940</td><td>0.237</td><td>99.906</td><td>0.372</td></tr><tr><td>Jan. 27</td><td>99.906</td><td>0.370</td><td>99.940</td><td>0.237</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 3</td><td>99.907</td><td>0.369</td><td>99.925</td><td>0.297</td><td>99.906</td><td>0.372</td></tr><tr><td>Feb. 10</td><td>99.906</td><td>0.372</td><td>99.940</td><td>0.237</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 17</td><td>99.906</td><td>0.373</td><td>99.935</td><td>0.257</td><td>99.905</td><td>0.376</td></tr><tr><td>Feb. 24</td><td>99.906</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 3</td><td>99.907</td><td>0.369</td><td>99.930</td><td>0.277</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 10</td><td>99.906</td><td>0.371</td><td>99.930</td><td>0.277</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 17</td><td>99.906</td><td>0.373</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 24</td><td>99.906</td><td>0.373</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Mar. 31</td><td>99.906</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 7</td><td>99.905</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 14</td><td>99.905</td><td>0.373</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 21</td><td>99.906</td><td>0.371</td><td>99.935</td><td>0.257</td><td>99.905</td><td>0.376</td></tr><tr><td>Apr. 28</td><td>99.906</td><td>0.372</td><td>99.935</td><td>0.257</td><td>99.905</td><td>0.376</td></tr><tr><td>May 5</td><td>99.906</td><td>0.373</td><td>99.935</td><td>0.257</td><td>99.905</td><td>0.376</td></tr><tr><td>May 12</td><td>99.905</td><td>0.372</td><td>99.912</td><td>0.344</td><td>99.904</td><td>0.376</td></tr><tr><td>May 19</td><td>99.905</td><td>0.373</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>May 26</td><td>99.905</td><td>0.373</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>June 2</td><td>99.905</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>June 9</td><td>99.904</td><td>0.374</td><td>99.913</td><td>0.340</td><td>99.904</td><td>0.376</td></tr><tr><td>June 16</td><td>99.905</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>June 23</td><td>99.904</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>June 30</td><td>99.904</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>July 7</td><td>99.904</td><td>0.375</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>July 14</td><td>99.904</td><td>0.374</td><td>99.925</td><td>0.293</td><td>99.904</td><td>0.376</td></tr><tr><td>July 21</td><td>99.905</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>July 28</td><td>99.904</td><td>0.374</td><td>99.910</td><td>0.352</td><td>99.904</td><td>0.376</td></tr><tr><td>Aug. 4</td><td>99.904</td><td>0.374</td><td>99.909</td><td>0.356</td><td>99.904</td><td>0.376</td></tr><tr><td>Aug. 12</td><td>99.904</td><td>0.374</td><td>99.912</td><td>0.344</td><td>99.904</td><td>0.376</td></tr><tr><td>Aug. 19</td><td>99.905</td><td>0.375</td><td>99.909</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Aug. 26</td><td>99.904</td><td>0.374</td><td>99.911</td><td>0.348</td><td>99.904</td><td>0.376</td></tr><tr><td>Sept. 2</td><td>99.905</td><td>0.375</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 9</td><td>99.905</td><td>0.375</td><td>99.909</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 16</td><td>99.905</td><td>0.374</td><td>99.911</td><td>0.352</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 23</td><td>99.906</td><td>0.374</td><td>99.924</td><td>0.301</td><td>99.905</td><td>0.376</td></tr><tr><td>Sept. 30</td><td>99.905</td><td>0.375</td><td>99.926</td><td>0.293</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 7</td><td>99.905</td><td>0.375</td><td>99.926</td><td>0.293</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 14</td><td>99.905</td><td>0.375</td><td>99.926</td><td>0.293</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 21</td><td>99.905</td><td>0.375</td><td>99.926</td><td>0.293</td><td>99.905</td><td>0.376</td></tr><tr><td>Oct. 28</td><td>99.905</td><td>0.375</td><td>99.915</td><td>0.336</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 4</td><td>99.905</td><td>0.375</td><td>99.915</td><td>0.336</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 12</td><td>99.906</td><td>0.376</td><td>99.915</td><td>0.340</td><td>99.906</td><td>0.376</td></tr><tr><td>Nov. 18</td><td>99.905</td><td>0.375</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Nov. 26</td><td>99.906</td><td>0.376</td><td>99.910</td><td>0.360</td><td>99.906</td><td>0.376</td></tr><tr><td>Dec. 2</td><td>99.905</td><td>0.375</td><td>99.925 3/</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 9</td><td>99.905</td><td>0.375</td><td>99.910</td><td>0.356</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 16</td><td>99.905</td><td>0.375</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 23</td><td>99.905</td><td>0.375</td><td>99.909</td><td>0.360</td><td>99.905</td><td>0.376</td></tr><tr><td>Dec. 30</td><td>99.905</td><td>0.375</td><td>99.910</td><td>0.356</td><td>99.905</td><td>0.376</td></tr><tr><td>1944-Jan. 6</td><td>99.906</td><td>0.373</td><td>99.915</td><td>0.336</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 13</td><td>99.905</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 20</td><td>99.905</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr><tr><td>Jan. 27</td><td>99.905</td><td>0.374</td><td>99.925</td><td>0.297</td><td>99.905</td><td>0.376</td></tr></table>
Source: Public Debt Service. Back Figures: Annual Reports of the Secretary of the Treasury. 1/ Bank discount basis.
2/ Except $4,000 at 99.940.
3/ Except $10,000 at 99.956.
February 1944
33
Sales of United States Savings Bonds
Table 1.- Summary of Sales and Redemptions, by Series
(In millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month 1/</th><th>Net change during fiscal year or month</th><th colspan="3">Grose sales</th><th>Accrual of redemption values</th><th colspan="3">Redemptione</th></tr><tr><th></th><th></th><th></th><th>Total funds received</th><th>Adjustment of sales reported to funde received 2/</th><th>Sales reported 2/</th><th></th><th>Total</th><th>Original purchase price 1/</th><th>Interest accrued 3/</th></tr><tr><td colspan="10">All series 4/</td></tr><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>-</td><td>264.0</td><td>1.2</td><td>11.2</td><td>11.1</td><td>.</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>-</td><td>512.6</td><td>7.2</td><td>36.2</td><td>35.9</td><td>3</td></tr><tr><td>1938</td><td>1,237.7</td><td>+438.0</td><td>487.5</td><td>-</td><td>487.5</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,868.1</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>3.5</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>841.3</td><td>7.0</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>18.9</td><td>63.0</td><td>62.4</td><td>.6</td></tr><tr><td>February</td><td>17,067.5</td><td>+821.4</td><td>887.2</td><td>+7</td><td>886.5</td><td>10.5</td><td>76.4</td><td>75.8</td><td>.6</td></tr><tr><td>March</td><td>17,890.7</td><td>+823.2</td><td>944.3</td><td>+6.7</td><td>937.5</td><td>10.2</td><td>131.2</td><td>130.5</td><td>.7</td></tr><tr><td>April</td><td>19,267.0</td><td>+1,376.3</td><td>1,469.7</td><td>-75.5</td><td>1,545.2</td><td>9.4</td><td>102.8</td><td>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>140.5</td><td>.7</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>137.5</td><td>.7</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>151.2</td><td>.8</td></tr><tr><td>September</td><td>24,478.4</td><td>+1,784.9</td><td>1,926.6</td><td>+135.7</td><td>1,790.9</td><td>13.6</td><td>155.3</td><td>154.4</td><td>.8</td></tr><tr><td>October</td><td>26,056.0</td><td>+1,577.6</td><td>1,708.2</td><td>-93.8 r</td><td>1,801.9 r</td><td>13.1</td><td>143.7</td><td>142.9</td><td>.8</td></tr><tr><td>November</td><td>26,697.0</td><td>+641.0</td><td>798.1</td><td>+22.5</td><td>775.6</td><td>13.4</td><td>170.5</td><td>5/</td><td>5/</td></tr><tr><td>December</td><td>27,362.8</td><td>+665.8</td><td>853.0</td><td>+32.2</td><td>820.8</td><td>19.6</td><td>206.9</td><td>5/</td><td>5/</td></tr><tr><td>1944-January</td><td>28,901.0</td><td>+1,538.2</td><td>1,698.4</td><td>+64.6 p</td><td>1,633.8 p</td><td>27.7</td><td>187.8</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Seriee A-D</td></tr><tr><td>1935</td><td>62.0</td><td>+62.0</td><td>62.6</td><td>-</td><td>62.6</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1936</td><td>316.1</td><td>+254.1</td><td>264.0</td><td>-</td><td>264.0</td><td>1.2</td><td>11.2</td><td>11.1</td><td>.</td></tr><tr><td>1937</td><td>799.6</td><td>+483.5</td><td>512.6</td><td>-</td><td>512.6</td><td>7.2</td><td>36.2</td><td>35.9</td><td>.3</td></tr><tr><td>1938</td><td>1,237.7</td><td>+438.0</td><td>487.5</td><td>-</td><td>487.5</td><td>17.1</td><td>66.6</td><td>65.6</td><td>1.1</td></tr><tr><td>1939</td><td>1,868.1</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>3.5</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>81.8</td><td>6.4</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>5.8</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>6.2</td><td>.6</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>6.5</td><td>.6</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>6.2</td><td>.5</td></tr><tr><td>October</td><td>3,615.6</td><td>+1.1</td><td>.</td><td>-</td><td>.</td><td>6.3</td><td>6.2</td><td>5.7</td><td>.6</td></tr><tr><td>November</td><td>3,614.7</td><td>-9</td><td>.</td><td>-</td><td>.</td><td>5.1</td><td>6.1</td><td>5/</td><td>5/</td></tr><tr><td>December</td><td>3,616.3</td><td>+1.6</td><td>.</td><td>-</td><td>.</td><td>7.7</td><td>6.0</td><td>5/</td><td>5/</td></tr><tr><td>1944-January</td><td>3,623.3</td><td>+6.9</td><td>.</td><td>-</td><td>.</td><td>13.8</td><td>6.8</td><td>5/</td><td>5/</td></tr></table>
(Continued on following page)
34
Treasury Bulletin
Sales of United States Savings Bonds - (Continued)
Table 1.- Summary of Sales and Redemptions, by Series - (Continued)
(in millions of dollars)
<table><tr><th>Fiscal year or month</th><th>Amount outstanding end of fiscal year or month 1/</th><th>Net change during fiscal year or month</th><th colspan="3">Gross sales</th><th>Accrual of redemption values</th><th colspan="3">Redemptions</th></tr><tr><th></th><th></th><th></th><th>Total funds received</th><th>Adjustment of sales reported to funds received 2/</th><th>Sales reported 2/</th><th></th><th>Total</th><th>Original purchase price 3/</th><th>Interest accrued 3/</th></tr><tr><td colspan="10">Series K</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>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>+148.0</td><td>1,252.2</td><td>6.1</td><td>136.8</td><td>136.5</td><td>.2</td></tr><tr><td>October</td><td>14,881.6</td><td>+1,221.5</td><td>1,340.1</td><td>-114.5 r</td><td>1,454.6 r</td><td>6.4</td><td>125.1</td><td>124.8</td><td>.2</td></tr><tr><td>November</td><td>15,404.7</td><td>+523.1</td><td>665.3</td><td>+22.6</td><td>642.7</td><td>7.5</td><td>149.7</td><td>149.4</td><td>.3</td></tr><tr><td>December</td><td>15,957.2</td><td>+552.5</td><td>727.6</td><td>+22.5</td><td>705.1</td><td>11.2</td><td>186.2</td><td>185.8</td><td>.4</td></tr><tr><td>1944-January</td><td>16,891.0</td><td>+933.8</td><td>1,084.6</td><td>+79.2 p</td><td>1,005.4 p</td><td>12.7</td><td>163.6</td><td>163.2</td><td>.4</td></tr><tr><td colspan="10">Series P</td></tr><tr><td>1941</td><td>66.6</td><td>+66.6</td><td>66.7</td><td>-8.3</td><td>75.0</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1942</td><td>498.9</td><td>+432.3</td><td>434.9</td><td>-2.0</td><td>437.0</td><td>.2</td><td>2.9</td><td>2.9</td><td>-</td></tr><tr><td>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>17.0</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>2.8</td><td>-</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>2.8</td><td>-</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>3.5</td><td>-</td></tr><tr><td>September</td><td>1,439.4</td><td>+136.7</td><td>139.0</td><td>.0</td><td>143.0</td><td>.4</td><td>2.7</td><td>2.7</td><td>-</td></tr><tr><td>October</td><td>1,529.6</td><td>+90.2</td><td>93.1</td><td>+3.1</td><td>90.0</td><td>.4</td><td>3.3</td><td>3.3</td><td>-</td></tr><tr><td>November</td><td>1,548.7</td><td>+19.1</td><td>23.4</td><td>+7</td><td>22.7</td><td>.7</td><td>5.1</td><td>5/</td><td>5/</td></tr><tr><td>December</td><td>1,568.7</td><td>+20.0</td><td>24.1</td><td>+2.6</td><td>21.5</td><td>.8</td><td>4.8</td><td>5/</td><td>5/</td></tr><tr><td>1944-January</td><td>1,691.9</td><td>+123.2</td><td>126.8</td><td>-9 p</td><td>127.8 p</td><td>1.1</td><td>4.8</td><td>5/</td><td>5/</td></tr><tr><td colspan="10">Series O</td></tr><tr><td>1941</td><td>394.0</td><td>+394.0</td><td>394.6</td><td>-56.8</td><td>451.4</td><td>-</td><td>.5</td><td>.5</td><td>-</td></tr><tr><td>1942</td><td>2,514.3</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>1943-January</td><td>4,013.7</td><td>+344.3</td><td>348.4</td><td>+2.5</td><td>345.9</td><td>-</td><td>4.2</td><td>4.2</td><td>-</td></tr><tr><td>February</td><td>4,214.0</td><td>+200.3</td><td>205.3</td><td>-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>+347.5</td><td>353.4</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>-8.3</td><td>395.7</td><td>-</td><td>9.0</td><td>9.0</td><td>-</td></tr><tr><td>October</td><td>6,029.2</td><td>+265.8</td><td>274.9</td><td>+17.6</td><td>257.3</td><td>-</td><td>9.1</td><td>9.1</td><td>-</td></tr><tr><td>November</td><td>6,128.9</td><td>+99.7</td><td>109.4</td><td>-8</td><td>110.2</td><td>-</td><td>9.7</td><td>9.7</td><td>-</td></tr><tr><td>December</td><td>6,220.5</td><td>+91.6</td><td>101.4</td><td>+7.1</td><td>94.2</td><td>-</td><td>9.8</td><td>9.8</td><td>-</td></tr><tr><td>1944-January</td><td>6,694.9</td><td>+474.4</td><td>486.9</td><td>-13.6 p</td><td>500.6 p</td><td>-</td><td>12.6</td><td>12.6</td><td>-</td></tr></table>
p Daily Treasury Statemente and reports of gross sales.
p Preliminary.
r Revised.
* Less than $50,000.
1/ At current redemption values except Series O, which is stated at par. Unclassified sales shown in the Daily Treasury Statement have been classified by series.
2/ Series A-D date 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.
1/ Estimated, except for Series O.
4/ Series A-D, the sale of which commenced in March 1935 and continued through April 1941, are 10 year discount bonds which were sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchases were limited to $7,500 issue price in any one calendar year and from April 1, 1940, could be made only by individuals. Series E.
F, and G have been on sale since May 1, 1941. Series B is a 10 year discount bond sold at 75% of maturity value, yielding 2.90% per annum if held to maturity; purchases are limited to $3,750 issue price in any one calendar year and may be made only by individuals. Series F is a 12 year discount bond sold at 71/4 of maturity value, yielding 2.53% per annum if held to maturity. Series G is a 12 year current income bond, sold at par, bearing interest at the rate of 2-1/2% per annum, redeemable at par on maturity, or at stated prices less than par before maturity. Purchases of Series F and G in any one calendar year are limited to $100,000 issue price for the two series combined ($50,000 in the calendar year 1941) and may be made by any investors other than commercial banks. For further details concerning redemption values and investment yields, see "Treasury Bulletin" for August 1943, page 4. 5/ Not yet available.
February 1944
35
Sales of United States Savings Bonds - (Continued)
Table 2.- Sales Reported by Series, Classified by Denomination
<table><tr><th rowspan="2">Fiscal year or month</th><th colspan="8">Sales in millions of dollars at issue price</th><th colspan="8">Percentage distribution of sales</th></tr><tr><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th><th>Total all denominations</th><th>$25</th><th>$50</th><th>$100</th><th>$500</th><th>$1,000</th><th>$5,000</th><th>$10,000</th></tr><tr><td colspan="15">Series E</td></tr><tr><td>1941 1/</td><td>203.1</td><td>14.4</td><td>13.3</td><td>41.4</td><td>40.7</td><td>93.4</td><td></td><td></td><td>100.0</td><td>7.1</td><td>6.5</td><td>20.4</td><td>20.0</td><td>46.0</td><td></td><td></td></tr><tr><td>1942</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>1,058.4</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>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>83.1</td><td>119.3</td><td>68.5</td><td>116.7</td><td></td><td></td><td>100.0</td><td>38.4</td><td>13.2</td><td>19.0</td><td>10.9</td><td>18.5</td><td></td><td></td></tr><tr><td>March</td><td>712.7</td><td>290.3</td><td>98.2</td><td>133.8</td><td>75.0</td><td>115.3</td><td></td><td></td><td>100.0</td><td>40.7</td><td>13.3</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>957.8</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>289.2</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</td><td>1,252.2</td><td>336.7</td><td>142.1</td><td>304.2</td><td>197.2</td><td>272.0</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>October</td><td>1,454.6</td><td>428.0</td><td>188.6</td><td>363.5</td><td>206.5</td><td>268.0</td><td></td><td></td><td>100.0</td><td>29.4</td><td>13.0</td><td>25.0</td><td>14.2</td><td>18.4</td><td></td><td></td></tr><tr><td>November</td><td>642.7</td><td>292.7</td><td>104.6</td><td>123.0</td><td>52.4</td><td>70.0</td><td></td><td></td><td>100.0</td><td>45.6</td><td>16.3</td><td>19.1</td><td>8.1</td><td>10.9</td><td></td><td></td></tr><tr><td>December</td><td>705.1</td><td>318.5</td><td>113.8</td><td>135.7</td><td>58.5</td><td>78.5</td><td></td><td></td><td>100.0</td><td>45.2</td><td>16.1</td><td>19.3</td><td>8.3</td><td>11.1</td><td></td><td></td></tr><tr><td>1944-January p</td><td>1,005.4</td><td>317.9</td><td>130.6</td><td>208.2</td><td>125.3</td><td>223.5</td><td></td><td></td><td>100.0</td><td>31.6</td><td>13.0</td><td>20.7</td><td>12.5</td><td>22.2</td><td></td><td></td></tr><tr><td colspan="15">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>13.2</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>1943-January</td><td>75.6</td><td>.3</td><td></td><td>2.1</td><td>3.2</td><td>15.3</td><td>14.8</td><td>38.3</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>23.5</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</td><td>143.0</td><td>.6</td><td></td><td>3.8</td><td>7.8</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>October</td><td>90.0</td><td>.8</td><td></td><td>3.8</td><td>6.2</td><td>29.7</td><td>18.9</td><td>30.7</td><td>100.0</td><td>.9</td><td></td><td>4.2</td><td>6.8</td><td>33.0</td><td>21.0</td><td>34.1</td></tr><tr><td>November</td><td>22.7</td><td>.3</td><td></td><td>1.2</td><td>1.8</td><td>8.4</td><td>4.8</td><td>6.3</td><td>100.0</td><td>1.3</td><td></td><td>5.3</td><td>7.8</td><td>37.1</td><td>21.0</td><td>27.5</td></tr><tr><td>December</td><td>21.5</td><td>.3</td><td></td><td>1.1</td><td>1.6</td><td>7.6</td><td>4.5</td><td>6.4</td><td>100.0</td><td>1.4</td><td></td><td>5.2</td><td>7.5</td><td>35.2</td><td>21.0</td><td>29.7</td></tr><tr><td>1944-January p</td><td>127.8</td><td>.4</td><td></td><td>2.0</td><td>3.3</td><td>18.0</td><td>17.8</td><td>86.2</td><td>100.0</td><td>.3</td><td></td><td>1.6</td><td>2.6</td><td>14.1</td><td>13.9</td><td>67.5</td></tr><tr><td colspan="15">Series G</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>885.0</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>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>9.6</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>30.6</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</td><td>395.7</td><td></td><td></td><td>17.7</td><td>39.5</td><td>153.1</td><td>87.6</td><td>97.7</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><tr><td>October</td><td>257.3</td><td></td><td></td><td>14.1</td><td>28.4</td><td>100.5</td><td>50.5</td><td>63.9</td><td>100.0</td><td></td><td></td><td>5.5</td><td>11.0</td><td>39.1</td><td>19.6</td><td>24.8</td></tr><tr><td>November</td><td>110.2</td><td></td><td></td><td>4.7</td><td>11.2</td><td>44.6</td><td>21.1</td><td>28.6</td><td>100.0</td><td></td><td></td><td>4.3</td><td>10.1</td><td>40.5</td><td>19.1</td><td>26.0</td></tr><tr><td>December</td><td>94.2</td><td></td><td></td><td>4.4</td><td>9.3</td><td>37.2</td><td>18.3</td><td>25.0</td><td>100.0</td><td></td><td></td><td>4.7</td><td>9.9</td><td>39.5</td><td>19.4</td><td>26.5</td></tr><tr><td>1944-January p</td><td>500.6</td><td></td><td></td><td>11.3</td><td>28.7</td><td>102.6</td><td>64.5</td><td>293.4</td><td>100.0</td><td></td><td></td><td>2.3</td><td>5.7</td><td>20.5</td><td>12.9</td><td>58.6</td></tr></table>
Source: Reports of gross sales. Preliminary. Revised.
1/ Sales of Series E, F, and O bonds commenced May 1, 1941. 2/ Sale of $25 denomination Series F bonds began in January 1942.
36
Treasury Bulletin
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States
PART A - SERIES E
(in thousands of dollars at issue prices)
<table><tr><th>State</th><th>Fiscal year 1942</th><th>Fiscal year 1943</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>Jan.</th></tr><tr><td>Alabama</td><td>25,996</td><td>91,272</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><td>17,171</td><td>7,449</td><td>7,731</td><td>11,648</td></tr><tr><td>Arizona</td><td>10,313</td><td>27,846</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><td>5,234</td><td>2,092</td><td>2,012</td><td>3,822</td></tr><tr><td>Arkansas</td><td>21,404</td><td>52,764</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><td>8,817</td><td>3,675</td><td>3,903</td><td>8,405</td></tr><tr><td>California</td><td>260,592</td><td>638,877</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>61,392</td><td>88,400</td><td>123,724</td><td>56,049</td><td>56,999</td><td>86,631</td></tr><tr><td>Colorado</td><td>24,845</td><td>62,132</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><td>12,427</td><td>5,028</td><td>5,121</td><td>7,104</td></tr><tr><td>Connecticut</td><td>77,543</td><td>168,258</td><td>17,240</td><td>10,868</td><td>14,570</td><td>15,843</td><td>17,266</td><td>14,473</td><td>12,941</td><td>12,105</td><td>21,500</td><td>25,064</td><td>11,429</td><td>11,662</td><td>19,503</td></tr><tr><td>Delaware</td><td>7,629</td><td>21,824</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><td>3,155</td><td>1,563</td><td>1,202</td><td>2,739</td></tr><tr><td>Dist. of Columbia</td><td>34,827</td><td>83,143</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>8,256</td><td>10,400</td><td>17,113</td><td>11,049</td><td>8,516</td><td>11,419</td></tr><tr><td>Florida</td><td>39,565</td><td>89,496</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><td>18,361</td><td>6,699</td><td>8,067</td><td>11,217</td></tr><tr><td>Georgia</td><td>35,642</td><td>94,524</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><td>18,849</td><td>8,666</td><td>9,051</td><td>11,850</td></tr><tr><td>Idaho</td><td>9,840</td><td>27,845</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><td>6,296</td><td>1,643</td><td>1,979</td><td>3,979</td></tr><tr><td>Illinois</td><td>282,055</td><td>575,056</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><td>84,909</td><td>45,479</td><td>50,733</td><td>52,793</td></tr><tr><td>Indiana</td><td>76,661</td><td>213,813</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><td>35,666</td><td>18,793</td><td>21,585</td><td>21,884</td></tr><tr><td>Iowa</td><td>69,558</td><td>176,508</td><td>18,288</td><td>12,426</td><td>18,270</td><td>23,975</td><td>17,815</td><td>12,455</td><td>13,964</td><td>12,402</td><td>35,900</td><td>33,051</td><td>10,570</td><td>12,427</td><td>18,508</td></tr><tr><td>Kansas</td><td>35,310</td><td>106,190</td><td>9,017</td><td>8,320</td><td>10,681</td><td>16,650</td><td>13,827</td><td>7,604</td><td>7,435</td><td>7,602</td><td>20,800</td><td>21,497</td><td>7,447</td><td>7,015</td><td>14,157</td></tr><tr><td>Kentucky</td><td>34,293</td><td>87,607</td><td>8,938</td><td>7,640</td><td>7,434</td><td>13,224</td><td>10,130</td><td>5,606</td><td>7,282</td><td>7,279</td><td>15,000</td><td>16,501</td><td>5,854</td><td>8,060</td><td>10,321</td></tr><tr><td>Louisiana</td><td>36,800</td><td>94,910</td><td>9,152</td><td>6,970</td><td>8,169</td><td>13,697</td><td>12,123</td><td>7,234</td><td>7,247</td><td>7,732</td><td>18,800</td><td>17,438</td><td>7,269</td><td>7,351</td><td>17,687</td></tr><tr><td>Maine</td><td>17,746</td><td>37,361</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><td>8,325</td><td>3,595</td><td>2,814</td><td>4,761</td></tr><tr><td>Maryland</td><td>49,009</td><td>108,604</td><td>10,472</td><td>8,782</td><td>9,202</td><td>12,247</td><td>12,911</td><td>10,923</td><td>9,186</td><td>8,332</td><td>16,200</td><td>17,427</td><td>9,015</td><td>11,250</td><td>13,575</td></tr><tr><td>Massachusetts</td><td>141,217</td><td>280,091</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><td>52,616</td><td>23,147</td><td>21,771</td><td>35,923</td></tr><tr><td>Michigan</td><td>160,150</td><td>481,637</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><td>96,003</td><td>40,469</td><td>40,940</td><td>52,215</td></tr><tr><td>Minnesota</td><td>71,181</td><td>179,108</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><td>29,645</td><td>12,095</td><td>12,041</td><td>28,795</td></tr><tr><td>Mississippi</td><td>22,973</td><td>52,870</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><td>9,158</td><td>3,153</td><td>3,571</td><td>9,181</td></tr><tr><td>Missouri</td><td>94,800</td><td>195,868</td><td>18,957</td><td>14,733</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><td>34,336</td><td>15,536</td><td>16,519</td><td>26,617</td></tr><tr><td>Montana</td><td>17,710</td><td>39,432</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><td>7,090</td><td>2,046</td><td>2,199</td><td>6,505</td></tr><tr><td>Nebraska</td><td>26,045</td><td>72,211</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><td>22,315</td><td>5,050</td><td>5,281</td><td>10,870</td></tr><tr><td>North Dakota</td><td>4,340</td><td>11,466</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><td>1,495</td><td>693</td><td>639</td><td>1,408</td></tr><tr><td>New Hampshire</td><td>11,760</td><td>25,787</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><td>5,018</td><td>2,012</td><td>1,764</td><td>2,666</td></tr><tr><td>New Jersey</td><td>160,538</td><td>303,807</td><td>30,047</td><td>22,070</td><td>27,847</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><td>49,899</td><td>24,314</td><td>28,307</td><td>34,571</td></tr><tr><td>New Mexico</td><td>6,978</td><td>17,284</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><td>3,523</td><td>1,336</td><td>1,465</td><td>2,555</td></tr><tr><td>New York</td><td>587,249</td><td>991,988</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><td>158,407</td><td>65,537</td><td>84,614</td><td>121,785</td></tr><tr><td>North Carolina</td><td>42,297</td><td>113,869</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><td>18,751</td><td>8,138</td><td>8,968</td><td>14,925</td></tr><tr><td>North Dakota</td><td>11,394</td><td>34,349</td><td>4,260</td><td>3,471</td><td>2,156</td><td>6,165</td><td>2,977</td><td>1,651</td><td>1,947</td><td>1,542</td><td>8,300</td><td>9,325</td><td>2,656</td><td>2,170</td><td>8,635</td></tr><tr><td>Ohio</td><td>190,262</td><td>506,364</td><td>50,494</td><td>39,384</td><td>41,202</td><td>67,065</td><td>63,682</td><td>40,548</td><td>43,641</td><td>43,564</td><td>72,900</td><td>85,682</td><td>44,309</td><td>52,654</td><td>60,766</td></tr><tr><td>Oklahoma</td><td>34,482</td><td>82,143</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><td>18,575</td><td>6,608</td><td>7,672</td><td>12,867</td></tr><tr><td>Oregon</td><td>37,394</td><td>107,674</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><td>24,854</td><td>9,283</td><td>9,286</td><td>14,431</td></tr><tr><td>Pennsylvania</td><td>283,782</td><td>626,051</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><td>102,520</td><td>52,523</td><td>56,156</td><td>76,495</td></tr><tr><td>Rhode Island</td><td>24,293</td><td>53,748</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><td>8,164</td><td>3,506</td><td>3,698</td><td>5,499</td></tr><tr><td>South Carolina</td><td>18,782</td><td>53,401</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>8,300</td><td>10,170</td><td>4,231</td><td>4,217</td><td>6,621</td></tr><tr><td>South Dakota</td><td>11,783</td><td>33,171</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><td>7,212</td><td>2,008</td><td>1,962</td><td>7,184</td></tr><tr><td>Tennessee</td><td>36,734</td><td>100,530</td><td>10,956</td><td>7,833</td><td>7,922</td><td>13,059</td><td>11,006</td><td>7,708</td><td>7,689</td><td>7,821</td><td>16,600</td><td>21,149</td><td>7,365</td><td>7,991</td><td>13,782</td></tr><tr><td>Texas</td><td>126,056</td><td>306,265</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><td>59,784</td><td>23,792</td><td>26,190</td><td>39,487</td></tr><tr><td>Utah</td><td>9,919</td><td>33,242</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><td>8,574</td><td>3,194</td><td>3,522</td><td>4,335</td></tr><tr><td>Vermont</td><td>7,550</td><td>14,175</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><td>2,844</td><td>1,040</td><td>862</td><td>1,601</td></tr><tr><td>Virginia</td><td>56,272</td><td>145,459</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>17,500</td><td>23,557</td><td>11,090</td><td>13,534</td><td>17,967</td></tr><tr><td>Washington</td><td>57,962</td><td>163,924</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><td>36,041</td><td>15,333</td><td>17,079</td><td>27,850</td></tr><tr><td>West Virginia</td><td>27,642</td><td>64,583</td><td>7,192</td><td>5,220</td><td>6,377</td><td>7,153</td><td>7,151</td><td>5,090</td><td>5,374</td><td>5,494</td><td>9,100</td><td>10,005</td><td>5,234</td><td>6,308</td><td>8,700</td></tr><tr><td>Wisconsin</td><td>77,668</td><td>172,650</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><td>15,847</td><td>11,890</td><td>28,500</td><td>35
(Continued on following page)
February 1944
37
Sales of United States Savings Bonds - (Continued)
Table 3.- Sales Reported by Series, Classified by States
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>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>Jan.</th></tr><tr><th></th><th>1942</th><th>1943</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>1944</th></tr><tr><td>Alabama</td><td>13,099</td><td>32,007</td><td>3,454</td><td>1,387</td><td>1,592</td><td>7,282</td><td>1,396</td><td>1,251</td><td>1,539</td><td>912</td><td>6,700</td><td>3,607</td><td>666</td><td>1,095</td><td>5,123</td></tr><tr><td>Arizona</td><td>4,232</td><td>8,421</td><td>1,266</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><td>772</td><td>249</td><td>370</td><td>1,005</td></tr><tr><td>Arkansas</td><td>13,738</td><td>16,578</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><td>1,398</td><td>443</td><td>385</td><td>3,923</td></tr><tr><td>California</td><td>140,602</td><td>224,145</td><td>30,034</td><td>19,121</td><td>17,616</td><td>32,478</td><td>23,001</td><td>12,196</td><td>19,915</td><td>16,099</td><td>40,200</td><td>24,964</td><td>11,765</td><td>9,257</td><td>36,797</td></tr><tr><td>Colorado</td><td>18,302</td><td>29,746</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><td>2,914</td><td>979</td><td>1,032</td><td>5,201</td></tr><tr><td>Connecticut</td><td>59,994</td><td>81,128</td><td>9,371</td><td>1,008</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><td>6,684</td><td>2,726</td><td>1,876</td><td>15,366</td></tr><tr><td>Delaware</td><td>11,910</td><td>12,326</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><td>1,020</td><td>581</td><td>422</td><td>1,624</td></tr><tr><td>Diet. of Columbia</td><td>23,247</td><td>33,757</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><td>2,326</td><td>1,021</td><td>1,415</td><td>5,255</td></tr><tr><td>Florida</td><td>22,219</td><td>36,705</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><td>4,222</td><td>1,701</td><td>1,615</td><td>5,791</td></tr><tr><td>Georgia</td><td>17,982</td><td>37,831</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>1,528</td><td>6,700</td><td>4,390</td><td>2,325</td><td>1,916</td><td>4,453</td></tr><tr><td>Idaho</td><td>7,339</td><td>8,031</td><td>1,278</td><td>614</td><td>798</td><td>904</td><td>952</td><td>327</td><td>349</td><td>224</td><td>1,300</td><td>1,011</td><td>292</td><td>282</td><td>1,555</td></tr><tr><td>Illinois</td><td>202,041</td><td>272,112</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><td>28,524</td><td>10,535</td><td>5,232</td><td>42,353</td></tr><tr><td>Indiana</td><td>45,123</td><td>79,524</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><td>9,593</td><td>4,311</td><td>1,641</td><td>17,447</td></tr><tr><td>Iowa</td><td>30,676</td><td>71,432</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>3,350</td><td>13,800</td><td>26,443</td><td>3,002</td><td>1,560</td><td>16,945</td></tr><tr><td>Kansas</td><td>14,486</td><td>34,897</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><td>4,794</td><td>1,596</td><td>1,380</td><td>7,646</td></tr><tr><td>Kentucky</td><td>24,516</td><td>43,755</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><td>2,969</td><td>2,352</td><td>829</td><td>10,470</td></tr><tr><td>Louisiana</td><td>21,651</td><td>44,461</td><td>3,446</td><td>2,564</td><td>2,970</td><td>9,710</td><td>3,143</td><td>1,785</td><td>2,533</td><td>1,330</td><td>9,600</td><td>3,140</td><td>1,431</td><td>1,064</td><td>5,354</td></tr><tr><td>Maine</td><td>16,570</td><td>20,245</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><td>2,470</td><td>1,099</td><td>897</td><td>7,152</td></tr><tr><td>Maryland</td><td>40,093</td><td>54,252</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><td>3,626</td><td>2,612</td><td>2,762</td><td>9,394</td></tr><tr><td>Massachusetts</td><td>144,199</td><td>174,999</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><td>16,357</td><td>7,554</td><td>5,573</td><td>38,199</td></tr><tr><td>Michigan</td><td>65,040</td><td>106,363</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><td>11,792</td><td>4,300</td><td>3,362</td><td>18,602</td></tr><tr><td>Minnesota</td><td>49,069</td><td>69,692</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><td>7,306</td><td>2,286</td><td>2,267</td><td>23,547</td></tr><tr><td>Mississippi</td><td>10,061</td><td>21,812</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><td>1,399</td><td>660</td><td>546</td><td>4,375</td></tr><tr><td>Missouri</td><td>68,651</td><td>84,266</td><td>9,297</td><td>5,724</td><td>4,953</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><td>6,941</td><td>3,533</td><td>2,745</td><td>17,584</td></tr><tr><td>Montana</td><td>6,322</td><td>10,529</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><td>1,147</td><td>391</td><td>299</td><td>4,202</td></tr><tr><td>Nebraska</td><td>14,132</td><td>30,414</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><td>4,357</td><td>1,058</td><td>928</td><td>5,327</td></tr><tr><td>Nevada</td><td>2,349</td><td>4,441</td><td>928</td><td>397</td><td>271</td><td>449</td><td>437</td><td>182</td><td>164</td><td>228</td><td>900</td><td>198</td><td>69</td><td>80</td><td>816</td></tr><tr><td>New Hampshire</td><td>11,090</td><td>14,403</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><td>1,710</td><td>559</td><td>426</td><td>3,797</td></tr><tr><td>New Jersey</td><td>93,399</td><td>118,761</td><td>12,310</td><td>7,118</td><td>7,865</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><td>12,662</td><td>5,099</td><td>4,053</td><td>20,988</td></tr><tr><td>New Mexico</td><td>9,034</td><td>7,025</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><td>774</td><td>158</td><td>104</td><td>923</td></tr><tr><td>New York</td><td>580,433</td><td>627,986</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><td>48,354</td><td>16,735</td><td>17,924</td><td>80,655</td></tr><tr><td>North Carolina</td><td>26,074</td><td>44,654</td><td>4,957</td><td>2,467</td><td>3,167</td><td>7,171</td><td>4,221</td><td>2,266</td><td>2,651</td><td>1,526</td><td>9,000</td><td>3,093</td><td>1,693</td><td>1,532</td><td>8,397</td></tr><tr><td>North Dakota</td><td>7,515</td><td>10,937</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><td>1,575</td><td>645</td><td>427</td><td>3,989</td></tr><tr><td>Ohio</td><td>119,098</td><td>203,827</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><td>16,802</td><td>8,935</td><td>8,432</td><td>42,117</td></tr><tr><td>Oklahoma</td><td>16,587</td><td>25,095</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><td>3,264</td><td>851</td><td>1,423</td><td>4,474</td></tr><tr><td>Oregon</td><td>22,095</td><td>32,892</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><td>2,723</td><td>955</td><td>1,026</td><td>4,949</td></tr><tr><td>Pennsylvania</td><td>243,285</td><td>297,430</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><td>23,184</td><td>10,233</td><td>10,240</td><td>52,660</td></tr><tr><td>Rhode Island</td><td>28,064</td><td>30,424</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><td>2,450</td><td>1,078</td><td>656</td><td>3,900</td></tr><tr><td>South Carolina</td><td>9,459</td><td>21,712</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><td>2,105</td><td>1,034</td><td>724</td><td>3,806</td></tr><tr><td>South Dakota</td><td>3,077</td><td>10,416</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><td>1,693</td><td>514</td><td>314</td><td>2,806</td></tr><tr><td>Tennessee</td><td>18,481</td><td>39,140</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><td>3,860</td><td>1,556</td><td>1,834</td><td>6,528</td></tr><tr><td>Texas</td><td>54,196</td><td>110,993</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><td>10,104</td><td>2,850</td><td>3,955</td><td>16,042</td></tr><tr><td>Utah</td><td>5,019</td><td>7,474</td><td>836</td><td>637</td><td>418</td><td>1,588</td><td>653</td><td>347</td><td>644</td><td>448</td><td>1,900</td><td>651</td><td>280</td><td>287</td><td>2,433</td></tr><tr><td>Vermont</td><td>5,842</td><td>7,504</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><td>1,191</td><td>409</td><td>273</td><td>2,761</td></tr><tr><td>Virginia</td><td>28,014</td><td>53,701</td><td>6,498</td><td>3,674</td><td>2,875</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><td>3,119</td><td>2,297</td><td>2,957</td><td>9,663</td></tr><tr><td>Washington</td><td>25,898</td><td>49,753</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><td>6,017</td><td>1,831</td><td>2,130</td><td>9,301</td></tr><tr><td>West Virginia</td><td>11,780</td><td>17,905</td><td>2,447</td><td>1,402</td><td>962</td><td>2,047</td><td>1,367</td><td>843</td><td>1,284</td><td>698</td><td>3,300</td><td>1,638</td><td>985</td><td>1,054</td><td>4,335</td></tr><tr><td>Wisconsin</td><td>42,205</td><td>86,336</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><td>11,947</td><td>3,492</td><td>3,614</td><td>24,851</td></tr><tr><td>Wyoming</td><td>3,690</td><td>6,010</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><td>716</td><td>291</td><td>145</td><td>1,274</td></tr><tr><td>Aleut. Zone</td><td>736</td><td>1,297</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>100</td><td>163</td><td>72</td><td>142</td><td>195</td></tr><tr><td>Canal Zone</td><td>504</td><td>1,943</td><td>191</td><td>95</td><td>498</td><td>325</td><td>303</td><td>86</td><td>135</td><td>44</td><td
Source: Report of gross sales. p Preliminary. r Revised. * Less than $500.
1/ Unallocated amounts for prior months included chiefly sales to the armed forces. Beginning in September 1943 these sales are allocated on a State basis.
2/ Included in "Other possessions".
Treasury Bulletin
38
Participation in Payroll Savings Plans For War Savings Bonds
Table 1.- Number of Firms and Number of Persons Participating in Payroll Savings Plans
<table><tr><th></th><th>June 1942</th><th>June 1943</th><th colspan="4">1942</th><th colspan="8">1943</th></tr><tr><th></th><th></th><th></th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td colspan="15">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><td></td><td></td></tr><tr><td>5,000 or more workers</td><td>477</td><td>537</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><td>535</td><td>534</td><td>534</td><td>548</td></tr><tr><td>500-4,999 workers</td><td>4,956</td><td>5,777</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><td>5,789</td><td>5,790</td><td>5,805</td><td>5,799</td></tr><tr><td>100-499 workers</td><td>19,718</td><td>27,056</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><td>27,200</td><td>27,230</td><td>27,338</td><td>27,385</td></tr><tr><td>Under 100 workers</td><td>82,948</td><td>149,525</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><td>149,965</td><td>149,946</td><td>150,584</td><td>150,874</td></tr><tr><td>Total number of firms</td><td>108,099</td><td>182,895</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><td>183,489</td><td>183,500</td><td>184,261</td><td>184,606</td></tr><tr><td colspan="15">Number of workers employed in firms and governmental agencies having payroll savings plans (In millions)</td></tr><tr><td>In firms</td><td>21.3</td><td>27.4</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><td>27.6</td><td>27.6</td><td>27.9</td><td>28.0</td></tr><tr><td>In Federal, State, and local governments and their agencies</td><td>1.5</td><td>3.9</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><td>3.9</td><td>3.9</td><td>3.9</td><td>3.9</td></tr><tr><td>Total</td><td>22.8</td><td>31.2</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><td>31.5</td><td>31.5</td><td>31.8</td><td>31.9</td></tr><tr><td colspan="15">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 forces, participating in payroll savings plans</td><td>2/</td><td>26.8</td><td>24.5</td><td>24.9</td><td>25.5</td><td>25.2</td><td>26.8</td><td>26.8</td><td>26.8</td><td>26.6</td><td>26.4</td><td>26.4</td><td>26.4</td><td>26.6</td><td>26.8</td></tr></table>
Table 2.- Deductions Under Payroll Savings Plans
<table><tr><th rowspan="2"></th><th colspan="2">Fiscal year</th><th colspan="12">1943</th></tr><tr><th>1942</th><th>1943</th><th>Dec.</th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>Total amount deducted (in millions of dollars)</td><td>544 3/</td><td>4,067</td><td>355</td><td>375</td><td>360</td><td>380</td><td>415</td><td>425</td><td>415</td><td>420</td><td>413</td><td>435</td><td>455r</td><td>440</td><td>460p</td></tr><tr><td>Percent of participants' pay deducted</td><td>5.2%</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%</td><td>9.0%</td><td>9.4%</td><td>9.3%</td><td>9.2%</td><td>9.4%</p></tr></table>
p Preliminary.
r Revised.
1/ Estimated.
2/ Not available. The total number of (1) workers in firms, and
(2) workers in Federal, State, and local governments and their agencies in June 1942 approximated 16.0 millions. 3/ Consists only of deductions from December 1941 through June 1942. Data on deductions prior to December 1941 are not available.
February 1944
39
Sales of Treasury Savings Notes
Table 1.- Summary of Sales and Redemptions, by Series
(Par values - 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 2/</th><th rowspan="2">Net change during fiscal year or month</th><th rowspan="2">Sales</th><th colspan="4">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><tr><td colspan="8">All series</td></tr><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>1943-January</td><td>6,748.8</td><td>+304.8</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>6,345.6</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><tr><td>October</td><td>9,132.9</td><td>+256.4</td><td>460.7</td><td>204.2</td><td>181.6</td><td>22.6</td><td>............</td></tr><tr><td>November</td><td>9,301.9</td><td>+169.0</td><td>330.2</td><td>161.2</td><td>121.9</td><td>39.3</td><td>............</td></tr><tr><td>December</td><td>8,599.3</td><td>-702.6</td><td>436.8</td><td>1,139.5</td><td>1,068.3</td><td>71.2</td><td>............</td></tr><tr><td>1944-January</td><td>9,502.9</td><td>+903.7</td><td>1,216.1</td><td>312.5</td><td>275.4</td><td>37.1</td><td>............</td></tr><tr><td colspan="8">Series A 2/</td></tr><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>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</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><tr><td>October</td><td>200.2</td><td>-7.2</td><td></td><td>7.2</td><td>6.2</td><td>1.0</td><td>............</td></tr><tr><td>November</td><td>198.3</td><td>-1.9</td><td></td><td>1.9</td><td>1.1</td><td>.8</td><td>............</td></tr><tr><td>December</td><td>168.7</td><td>-29.6</td><td></td><td>29.6</td><td>27.8</td><td>1.8</td><td>............</td></tr><tr><td>1944-January</td><td>160.2</td><td>-8.5</td><td></td><td>8.5</td><td>6.8</td><td>1.7</td><td>............</td></tr><tr><td colspan="8">Series B 4/</td></tr><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>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>1,488.4</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><tr><td>October</td><td>321.4</td><td>-27.2</td><td></td><td>27.2</td><td>25.6</td><td>1.6</td><td>............</td></tr><tr><td>November</td><td>306.6</td><td>-14.8</td><td></td><td>14.8</td><td>14.0</td><td>.8</td><td>............</td></tr><tr><td>December</td><td>128.6</td><td>-178.0</td><td></td><td>178.0</td><td>171.6</td><td>6.4</td><td>............</td></tr><tr><td>1944-January</td><td>109.7</td><td>-18.9</td><td></td><td>18.9</td><td>14.3</td><td>4.6</td><td>............</td></tr></table>
(Continued on following page)
40
Treasury Bulletin
Sales of Treasury Savings Notes
(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 2/</th><th>Net change during fiscal year or month</th><th>Sales</th><th colspan="4">Redeceptions and exchanges</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 5/</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>1943-January</td><td>4,075.2</td><td>+399.9</td><td>418.4</td><td>18.5</td><td>18.4</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>+75.4</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>6,528.9</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><tr><td>October</td><td>8,611.3</td><td>+290.8</td><td>460.7</td><td>169.9</td><td>149.9</td><td>20.0</td><td></td></tr><tr><td>November</td><td>8,797.0</td><td>+185.8</td><td>330.2</td><td>144.4</td><td>106.7</td><td>37.7</td><td></td></tr><tr><td>December</td><td>8,302.0</td><td>-495.0</td><td>436.8</td><td>931.8</td><td>868.9</td><td>62.9</td><td></td></tr><tr><td>1944-January</td><td>9,233.0</td><td>+931.0</td><td>1,216.1</td><td>285.1</td><td>254.3</td><td>30.9</td><td></td></tr></table>
Source: Daily Treasury Statements.
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 sources 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 1/). Sale of series C notes which were designed for the investment of idle cash reserves as well as the accumulation of tax reserves was discontinued and the notes were designated Treasury savings notes. Includes matured 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. 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/.) Prior to October 4, 1943, the maximum amount which could be used in payment of each class of tax (income, estate, or gift) by each taxpayer during each taxable year was limited to $5,000 per value; this limitation was removed as of that date. 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. 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. These notes may be used in payment of Federal taxes at any time two months after the date of issue. 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/
February 1944
41
Sales of Treasury Savings Notes - (Continued)
Table 2.- Sales of Series C Notes, Classified by Denomination
<table><tr><th rowspan="3">Fiscal year or month</th><th colspan="10">Sales in millions of dollars at par</th><th colspan="10">Percentage distribution of sales</th></tr><tr><th rowspan="2">Total all denominations</th><th colspan="9">Denomination</th><th rowspan="2">Total all denominations</th><th colspan="9">Denomination</th></tr><tr><th>$100 2/</th><th>$500 2/</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th><th>$100 2/</th><th>$500 2/</th><th>1</th><th>5</th><th>10</th><th>100</th><th>500</th><th>1,000</th></tr><tr><td>1943</td><td>7,546.7</td><td></td><td></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></td><td></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>1943-Jan</td><td>418.4</td><td></td><td></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></td><td></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>443.7</td><td></td><td></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></td><td></td><td>2.2</td><td>3.1</td><td>13.2</td><td>32.0</td><td>16.4</td><td>33.1</td></tr><tr><td>Mar</td><td>431.5</td><td></td><td></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></td><td></td><td>2.3</td><td>3.1</td><td>15.3</td><td>28.5</td><td>18.2</td><td>32.6</td></tr><tr><td>Apr</td><td>1,611.1</td><td></td><td></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></td><td></td><td>5.1</td><td>5.6</td><td>21.1</td><td>37.1</td><td>13.9</td><td>17.2</td></tr><tr><td>May</td><td>474.5</td><td></td><td></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></td><td></td><td>4.4</td><td>4.9</td><td>19.2</td><td>32.1</td><td>14.7</td><td>24.7</td></tr><tr><td>June</td><td>463.6</td><td></td><td></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></td><td></td><td>2.3</td><td>3.2</td><td>16.7</td><td>38.0</td><td>17.0</td><td>22.8</td></tr><tr><td>July</td><td>414.0</td><td></td><td></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></td><td></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></td><td></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></td><td></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></td><td></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></td><td></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><tr><td>Oct</td><td>460.7</td><td></td><td></td><td>34.5</td><td>33.2</td><td>109.2</td><td>141.9</td><td>63.1</td><td>78.8</td><td>100.0</td><td></td><td></td><td>7.5</td><td>7.2</td><td>23.7</td><td>30.8</td><td>13.7</td><td>17.1</td></tr><tr><td>Nov</td><td>330.2</td><td></td><td></td><td>8.6</td><td>12.9</td><td>60.7</td><td>113.3</td><td>48.9</td><td>85.8</td><td>100.0</td><td></td><td></td><td>2.6</td><td>3.9</td><td>18.4</td><td>34.3</td><td>14.8</td><td>26.0</td></tr><tr><td>Dec</td><td>436.8</td><td>*</td><td>-4</td><td>11.4</td><td>16.2</td><td>72.9</td><td>153.3</td><td>86.9</td><td>95.7</td><td>100.0</td><td>*</td><td>.1</td><td>2.6</td><td>3.7</td><td>16.7</td><td>35.1</td><td>19.9</td><td>21.9</td></tr><tr><td>1944-Jan</td><td>1,216.1</td><td>2.4</td><td>6.1</td><td>53.5</td><td>73.0</td><td>255.4</td><td>420.8</td><td>160.5</td><td>244.4</td><td>100.0</td><td>.2</td><td>.5</td><td>4.4</td><td>6.0</td><td>21.0</td><td>34.6</td><td>13.2</td><td>20.1</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by denominations: sales reported to the Treasury. Less than $50,000 or less than .05 percent.
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.
2/ Denominations of $100 and $500 first offered in November, 1943.
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 colspan="2">Type of purchaser</th><th>Total</th><th colspan="2">Type of purchaser</th></tr><tr><th></th><th></th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th><th></th><th>Individuals, partnerships, and fiduciaries</th><th>Corporations</th></tr><tr><td>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>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</td><td>2,093.1</td><td>100.0</td><td>7.4</td><td>92.6</td></tr><tr><td>October</td><td>460.7</td><td>51.1</td><td>409.6</td><td>100.0</td><td>11.1</td><td>88.9</td></tr><tr><td>November</td><td>330.2</td><td>16.2</td><td>314.0</td><td>100.0</td><td>4.9</td><td>95.1</td></tr><tr><td>December</td><td>436.8</td><td>20.5</td><td>416.3</td><td>100.0</td><td>4.7</td><td>95.3</td></tr><tr><td>1944-January</td><td>1,216.1</td><td>108.2</td><td>1,107.9</td><td>100.0</td><td>8.9</td><td>91.1</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements; (2) Distribution by type of purchaser: sales reported to the Treasury.
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 1947, page 47.
42
Treasury Bulletin
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>Total 1/</th><th>Redemptions Exchanged for United States savings bonds 2/</th><th>Cash 2/</th><th>Total</th><th>Percentage distribution of redemptions Exchanged for United States savings bonds 2/</th><th>Cash 2/</th></tr><tr><td>1941 2. July 1941.</td><td>5,294</td><td>+5,143</td><td>6,087</td><td>943</td><td>4/4/</td><td>4/4/</td><td>100.0</td><td>4/4/</td><td>4/4/</td></tr><tr><td>1942 (Ang. 1941-June 1942)</td><td>166,341</td><td>+161,048</td><td>308,621</td><td>147,574</td><td>127,943</td><td>18,4685/</td><td>100.0</td><td>87.4</td><td>12.6 5/</td></tr><tr><td>1943</td><td>213,350</td><td>+45,620 6/ 1/</td><td>590,268 1/</td><td>544,647</td><td>474,168</td><td>70,4805/</td><td>100.0</td><td>87.1</td><td>12.9 5/</td></tr><tr><td>1943-January</td><td>224,901</td><td>+3,561</td><td>66,267</td><td>62,706</td><td>54,448</td><td>8,258</td><td>100.0</td><td>86.8</td><td>13.2</td></tr><tr><td>February</td><td>224,356</td><td>-1,106 1/</td><td>54,667 1/</td><td>55,773</td><td>48,339</td><td>7,434</td><td>100.0</td><td>86.7</td><td>13.3</td></tr><tr><td>March</td><td>226,216</td><td>+1,671 1/</td><td>49,630 1/</td><td>47,958</td><td>40,650</td><td>7,309</td><td>100.0</td><td>84.8</td><td>15.2</td></tr><tr><td>April</td><td>227,989</td><td>+1,774 1/</td><td>44,791 1/</td><td>43,018</td><td>37,501</td><td>5,517</td><td>100.0</td><td>87.2</td><td>12.8</td></tr><tr><td>May</td><td>224,771</td><td>-3,218</td><td>40,048</td><td>43,267</td><td>37,530</td><td>5,737</td><td>100.0</td><td>86.7</td><td>13.3</td></tr><tr><td>June</td><td>213,350</td><td>-11,421</td><td>52,683</td><td>61,104</td><td>54,391</td><td>9,714</td><td>100.0</td><td>84.8</td><td>15.2</td></tr><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>84.6</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><tr><td>October</td><td>197,942</td><td>-3,511</td><td>35,462</td><td>38,973</td><td>32,771</td><td>6,202</td><td>100.0</td><td>84.1</td><td>15.9</td></tr><tr><td>November</td><td>202,415</td><td>+4,473</td><td>39,565</td><td>35,091</td><td>28,543</td><td>6,548</td><td>100.0</td><td>81.3</td><td>18.7</td></tr><tr><td>December</td><td>203,064</td><td>+649</td><td>43,585</td><td>42,937</td><td>33,896</td><td>9,040</td><td>100.0</td><td>78.9</td><td>21.1</td></tr><tr><td>1944-January</td><td>204,906</td><td>+1,942</td><td>37,451</td><td>35,610</td><td>30,027</td><td>5,582</td><td>100.0</td><td>84.3</td><td>15.7</td></tr></table>
Source: Daily Treasury Statements commencing November 1, 1942; prior thereto, Post Office Department. 
1/ Figures for periods prior to November 1, 1942 are not strictly comparable with subsequent data because of the shift to a Daily Treasury Statement basis. Stamps sold prior to October 1, 1942 were known as postal earnings 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/ 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 thousand. Details not available for May, June, and July 1941. Includes minor amounts which were exchanged for postal savings certificates. These aggregated $123 thousand for the period August 1, 1941 through June 30, 1942 and $55 thousand for the period July 1, 1942 through October 31, 1942. Not of sales lose redemptions. See footnote 1/. 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>1943-January</td><td>66,267</td><td>15,993</td><td>34,209</td><td>5,192</td><td>7,798</td><td>3,075</td><td>100.0</td><td>24.1</td><td>51.6</td><td>7.8</td><td>11.8</td><td>4.7</td></tr><tr><td>February</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>23,104</td><td>3,594</td><td>5,085</td><td>1,669</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>6,504</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><tr><td>October</td><td>35,462</td><td>9,106</td><td>17,494</td><td>2,556</td><td>3,599</td><td>2,708</td><td>100.0</td><td>25.7</td><td>49.3</td><td>7.2</td><td>10.2</td><td>7.6</td></tr><tr><td>November</td><td>39,565</td><td>10,443</td><td>20,330</td><td>2,987</td><td>4,446</td><td>1,359</td><td>100.0</td><td>26.4</td><td>51.4</td><td>7.6</td><td>11.2</td><td>3.4</td></tr><tr><td>December</td><td>43,585</td><td>11,235</td><td>22,129</td><td>3,187</td><td>5,038</td><td>1,997</td><td>100.0</td><td>25.8</td><td>50.8</td><td>7.3</td><td>11.5</td><td>4.6</td></tr><tr><td>1944-January</td><td>37,451</td><td>11,150</td><td>19,072</td><td>2,541</td><td>3,485</td><td>1,203</td><td>100.0</td><td>29.8</td><td>50.9</td><td>6.8</td><td>9.3</td><td>3.2</td></tr></table>
Source: (1) Total sales: Daily Treasury Statements commencing November 1, 1942; prior thereto Post Office Department; (2) Distribution by denominations: Based upon Post Office Department data.
February 1944
43
Sales of United States Savings Stamps - (Continued)
Table 3.- Sales by States
(In thousands of dollars)
<table><tr><th>State</th><th colspan="2">Fiscal year</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>Jan.</th></tr><tr><th></th><th>1942</th><th>1943</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>p</th><th>p</th><th>1944</th></tr><tr><td>Alabama</td><td>2,343.7</td><td>4,215.1</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>326.5</td><td>333.0</td><td>271.2</td><td>292.1</td><td>384.5</td></tr><tr><td>Arizona</td><td>834.8</td><td>1,765.8</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>143.9</td><td>103.1</td><td>94.0</td><td>108.4</td><td>147.8</td></tr><tr><td>Arkansas</td><td>1,674.7</td><td>2,970.7</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>125.0</td><td>171.0</td><td>162.5</td><td>152.4</td><td>147.2</td><td>194.6</td></tr><tr><td>California</td><td>20,132.6</td><td>39,726.1</td><td>3,624.3</td><td>2,963.3</td><td>3,341.8</td><td>3,486.4</td><td>3,256.6</td><td>2,312.7</td><td>2,190.5</td><td>1,849.9</td><td>2,658.1</td><td>2,578.9</td><td>2,297.4</td><td>2,675.0</td><td>2,991.0</td></tr><tr><td>Colorado</td><td>2,020.3</td><td>4,083.1</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>219.3</td><td>184.1</td><td>334.9</td><td>239.1</td><td>216.0</td><td>248.4</td><td>344.5</td></tr><tr><td>Connecticut</td><td>7,707.4</td><td>14,375.6</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>571.4</td><td>950.3</td><td>906.6</td><td>809.6</td><td>862.3</td><td>1,031.7</td></tr><tr><td>Delaware</td><td>714.2</td><td>1,298.6</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><td>93.7</td><td>80.2</td><td>87.4</td><td>108.3</td></tr><tr><td>Diet. of Columbia</td><td>6,100.1</td><td>5,591.7</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><td>288.0</td><td>264.9</td><td>348.5</td><td>362.3</td></tr><tr><td>Florida</td><td>3,705.9</td><td>6,188.3</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>338.9</td><td>490.5</td><td>395.0</td><td>336.7</td><td>393.3</td><td>452.9</td></tr><tr><td>Georgia</td><td>3,175.5</td><td>5,621.2</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>259.4</td><td>366.2</td><td>374.6</td><td>317.2</td><td>347.9</td><td>443.9</td></tr><tr><td>Idaho</td><td>841.0</td><td>1,405.5</td><td>131.1</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>58.7</td><td>90.1</td><td>85.5</td><td>85.4</td><td>103.8</td><td>136.3</td></tr><tr><td>Illinois</td><td>23,612.9</td><td>39,970.3</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>1,760.3</td><td>2,638.0</td><td>2,435.2</td><td>2,173.0</td><td>2,404.9</td><td>2,693.8</td></tr><tr><td>Indiana</td><td>7,516.9</td><td>14,176.4</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>656.3</td><td>978.8</td><td>913.8</td><td>839.7</td><td>926.1</td><td>1,033.7</td></tr><tr><td>Iowa</td><td>4,575.8</td><td>9,010.3</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>712.9</td><td>730.7</td><td>578.8</td><td>521.4</td><td>597.1</td><td>711.9</td></tr><tr><td>Kansas</td><td>2,532.9</td><td>5,576.8</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>207.7</td><td>362.2</td><td>365.4</td><td>310.6</td><td>338.1</td><td>301.2</td></tr><tr><td>Kentucky</td><td>3,036.2</td><td>5,427.6</td><td>504.6</td><td>436.1</td><td>463.9</td><td>480.0</td><td>387.5</td><td>302.2</td><td>340.7</td><td>326.9</td><td>450.0</td><td>401.2</td><td>420.7</td><td>464.1</td><td>521.8</td></tr><tr><td>Louisiana</td><td>3,428.0</td><td>6,114.6</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>403.7</td><td>426.2</td><td>362.4</td><td>339.1</td><td>340.1</td><td>438.8</td></tr><tr><td>Maine</td><td>1,725.5</td><td>3,619.4</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>189.6</td><td>243.6</td><td>228.3</td><td>206.8</td><td>221.9</td><td>315.2</td></tr><tr><td>Maryland</td><td>5,785.2</td><td>9,211.3</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>737.0</td><td>662.3</td><td>597.7</td><td>642.2</td><td>765.7</td></tr><tr><td>Massachusetts</td><td>14,413.6</td><td>27,025.9</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>1,280.1</td><td>2,034.9</td><td>1,940.1</td><td>1,700.8</td><td>1,816.6</td><td>2,068.6</td></tr><tr><td>Michigan</td><td>13,721.6</td><td>26,161.1</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>1,223.9</td><td>1,809.7</td><td>1,722.4</td><td>1,510.2</td><td>1,687.5</td><td>2,041.8</td></tr><tr><td>Minnesota</td><td>4,037.7</td><td>7,961.5</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>443.0</td><td>614.6</td><td>534.9</td><td>483.7</td><td>531.3</td><td>762.9</td></tr><tr><td>Mississippi</td><td>1,508.8</td><td>3,082.6</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>139.5</td><td>202.4</td><td>169.5</td><td>143.4</td><td>156.5</td><td>202.3</td></tr><tr><td>Missouri</td><td>7,326.4</td><td>14,223.5</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>718.5</td><td>1,097.3</td><td>1,006.6</td><td>906.6</td><td>947.7</td><td>1,083.3</td></tr><tr><td>Montana</td><td>1,030.7</td><td>1,874.0</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>94.3</td><td>132.4</td><td>97.9</td><td>98.2</td><td>117.0</td><td>143.3</td></tr><tr><td>Nebraska</td><td>2,371.8</td><td>4,531.1</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>214.3</td><td>314.8</td><td>259.0</td><td>213.4</td><td>273.7</td><td>307.8</td></tr><tr><td>Nevada</td><td>381.4</td><td>678.4</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>35.6</td><td>37.9</td><td>37.0</td><td>29.2</td><td>43.4</td><td>46.9</td></tr><tr><td>New Hampshire</td><td>1,150.8</td><td>2,276.5</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>110.1</td><td>174.6</td><td>156.6</td><td>126.3</td><td>143.9</td><td>179.1</td></tr><tr><td>New Jersey</td><td>13,313.7</td><td>23,206.8</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>1,032.8</td><td>1,650.6</td><td>1,578.6</td><td>1,631.0</td><td>1,507.7</td><td>1,776.1</td></tr><tr><td>New Mexico</td><td>720.3</td><td>1,252.8</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>53.4</td><td>77.1</td><td>86.3</td><td>73.1</td><td>80.2</td><td>108.4</td></tr><tr><td>New York</td><td>53,060.7</td><td>106,793.2</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>4,863.0</td><td>7,170.4</td><td>6,147.2</td><td>5,834.1</td><td>6,148.8</td><td>6,281.9</td></tr><tr><td>North Carolina</td><td>3,089.7</td><td>6,794.6</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>346.2</td><td>486.9</td><td>434.8</td><td>416.8</td><td>409.3</td><td>485.2</td></tr><tr><td>North Dakota</td><td>801.2</td><td>1,558.8</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>85.3</td><td>95.1</td><td>85.5</td><td>93.8</td><td>100.8</td><td>138.2</td></tr><tr><td>Ohio</td><td>18,269.5</td><td>32,949.4</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>1,521.4</td><td>2,271.3</td><td>2,043.9</td><td>1,930.7</td><td>2,051.7</td><td>2,440.2</td></tr><tr><td>Oklahoma</td><td>2,489.1</td><td>4,442.0</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>223.3</td><td>325.9</td><td>251.9</td><td>272.9</td><td>259.9</td><td>341.9</td></tr><tr><td>Oregon</td><td>2,739.3</td><td>5,323.4</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>364.6</td><td>314.8</td><td>304.6</td><td>350.1</td><td>411.6</td></tr><tr><td>Pennsylvania</td><td>27,075.3</td><td>49,468.2</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>2,384.0</td><td>3,797.8</td><td>3,366.5</td><td>3,145.7</td><td>3,250.3</td><td>3,980.4</td></tr><tr><td>Rhode Island</td><td>3,087.6</td><td>5,172.3</td><td>412.8</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>342.2</td><td>329.7</td><td>267.0</td><td>310.6</td><td>331.3</td></tr><tr><td>South Carolina</td><td>1,488.2</td><td>2,207.8</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><td>154.1</td><td>132.2</td><td>145.8</td><td>185.3</td></tr><tr><td>South Dakota</td><td>832.2</td><td>1,546.1</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><td>103.5</td><td>85.7</td><td>95.0</td><td>133.0</td></tr><tr><td>Tennessee</td><td>2,952.8</td><td>5,685.8</td><td>516.4</td><td>438.7</td><td>454.0</td><td>462.3</td><td>359.6</td><td>274.8</td><td>309.5</td><td>265.0</td><td>415.5</td><td>374.2</td><td>309.1</td><td>324.5</td><td>416.6</td></tr><tr><td>Texas</td><td>11,520.8</td><td>20,141.6</td><td>1,748.9</td><td>1,702.1</td><td>1,686.9</td><td>1,916.4</td><td>1,444.7</td><td>1,143.6</td><td>1,177.9</td><td>1,027.8</td><td>1,378.4</td><td>1,229.2</td><td>1,105.0</td><td>1,214.1</td><td>1,341.1</td></tr><tr><td>Utah</td><td>963.4</td><td>2,436.2</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>108.7</td><td>155.9</td><td>136.1</td><td>114.1</td><td>151.8</td><td>191.7</td></tr><tr><td>Vermont</td><td>705.8</td><td>1,340.0</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>78.0</td><td>98.0</td><td>88.7</td><td>68.0</td><td>83.0</td><td>99.0</td></tr><tr><td>Virginia</td><td>4,051.8</td><td>7,315.1</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>394.3</td><td>593.2</td><td>645.5</td><td>705.2</td><td>491.5</td><td>561.8</td></tr><tr><td>Washington</td><td>3,909.2</td><td>8,124.7</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>359.6</td><td>569.4</td><td>530.4</td><td>445.6</td><td>542.1</td><td>578.8</td></tr><tr><td>West Virginia</td><td>2,449.7</td><td>4,014.2</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>186.7</td><td>266.0</td><td>260.0</td><td>233.3</td><td>270.1</td><td>326.9</td></tr><tr><td>Wisconsin</td><td>5,728.3</td><td>12,535.0</td><td>1,154.7</td><td>1,123
Source: (1) Total sales: Daily Treasury Statements; (2) Sales by States: Post Office Department. p Preliminary.
OWNERSHIP OF GOVERNMENT SECURITIES
— 44 —
February 1944
45
Summary Distribution by Classes of Holders of Interest-Bearing Securities Issued by United States Government and Guaranteed by United States
(In millions of dollars)
<table><tr><th rowspan="2">End of fiscal year or month</th><th rowspan="2">Total amount outstanding</th><th colspan="5">U. S. Government agencies and trust funds 2/</th><th colspan="3">Federal Reserve Banks</th><th colspan="3">Private investors 3/</th><th colspan="3">U. S. Government agencies and trust funds and Federal Reserve Banks 2/</th><th colspan="3">Private investors 3/</th></tr><tr><th>Total public and special issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Special issues</th><th>Public marketable issues</th><th>Total public issues</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Total amount unmaturing outstanding</th><th>Public marketable issues</th><th>Public non-marketable issues</th><th>Public non-marketable issues</th></tr><tr><td>1934</td><td>26,480</td><td>1,288</td><td>892</td><td>-</td><td>396</td><td>2,432</td><td>22,760</td><td>22,760</td><td>-</td><td>681</td><td>150</td><td>531</td><td>-</td></tr><tr><td>1935</td><td>27,645</td><td>1,629</td><td>996</td><td>-</td><td>633</td><td>2,433</td><td>23,583</td><td>23,521</td><td>62</td><td>4,123</td><td>362</td><td>3,761</td><td>-</td></tr><tr><td>1936</td><td>32,989</td><td>1,945</td><td>1,319</td><td>-</td><td>626</td><td>2,430</td><td>28,614</td><td>27,353</td><td>1,261</td><td>4,718</td><td>375</td><td>4,343</td><td>-</td></tr><tr><td>1937</td><td>35,800</td><td>3,221</td><td>1,663</td><td>-</td><td>1,558</td><td>2,526</td><td>30,053</td><td>28,865</td><td>1,188</td><td>4,665</td><td>363</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>4,853</td><td>325</td><td>4,528</td><td>-</td></tr><tr><td>1939</td><td>39,886</td><td>5,600</td><td>1,830</td><td>-</td><td>3,770</td><td>2,551</td><td>31,735</td><td>29,584</td><td>2,151</td><td>5,450</td><td>286</td><td>5,164</td><td>-</td></tr><tr><td>1940</td><td>42,376</td><td>6,792</td><td>2,017</td><td>-</td><td>4,775</td><td>2,458</td><td>33,126</td><td>29,961</td><td>3,166</td><td>5,495</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>33,539</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>4,589</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>10,871</td><td>7,149</td><td>118,152</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>1943-Jan</td><td>110,024</td><td>12,056</td><td>2,878</td><td>6</td><td>9,172</td><td>5,919</td><td>92,049</td><td>68,699</td><td>23,350</td><td>4,277</td><td>361</td><td>3,835</td><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>10,871</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>15,471</td><td>3,748</td><td>7</td><td>11,717</td><td>8,886</td><td>132,696</td><td>98,793</td><td>33,904</td><td>3,964</td><td>351</td><td>3,536</td><td>77</td></tr><tr><td>Oct.</td><td>163,589</td><td>15,641</td><td>3,766</td><td>7</td><td>11,858</td><td>9,303</td><td>138,644</td><td>102,875</td><td>35,769</td><td>4,113</td><td>402</td><td>3,520</td><td>190</td></tr><tr><td>Nov.</td><td>164,781</td><td>16,047</td><td>3,762</td><td>7</td><td>12,278</td><td>10,272</td><td>138,462</td><td>101,874</td><td>36,588</td><td>4,154</td><td>464</td><td>3,495</td><td>195</td></tr><tr><td>Dec.</td><td>164,508</td><td>16,493</td><td>3,783</td><td>7</td><td>12,703</td><td>11,460</td><td>136,555</td><td>99,988</td><td>36,567</td><td>4,225</td><td>524</td><td>3,495</td><td>205</td></tr><tr><td>1944-Jan</td><td>167,043</td><td>16,664 p</td><td>3,764 p</td><td>7 p</td><td>12,873</td><td>11,985</td><td>138,394p</td><td>99,490 p</td><td>38,904 p</td><td>4,269</td><td>528 p</td><td>3,550 p</td><td>191</td></tr></table>
Source: (1) Total amounts outstanding; Daily Treasury Statements; (2) Securities held by U. S. Government agencies and trust funds; reports of the agencies and accounts with the Treasury; (3) Securities held by Federal Reserve Banks; Federal Reserve System. p. Preliminary. * 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 colspan="12">Net market purchases or sales (-)</th></tr><tr><th></th><th>Jan.</th><th>Feb.</th><th>Mar.</th><th>Apr.</th><th>May</th><th>June</th><th>July</th><th>Aug.</th><th>Sept.</th><th>Oct.</th><th>Nov.</th><th>Dec.</th></tr><tr><td>1937</td><td>14.4</td><td>5.7</td><td>119.6</td><td>11.9</td><td>3.9</td><td>24.4</td><td>4.8</td><td>12.5</td><td>8.9</td><td>3.7</td><td>2.0</td><td>-15.4</td></tr><tr><td>1938</td><td>-12.0</td><td>-3.0</td><td>23.3</td><td>2.5</td><td>-4.9</td><td>.8</td><td>1.2</td><td>-3.9</td><td>38.5</td><td>1.0</td><td>.4</td><td>6.5</td></tr><tr><td>1939</td><td>1.6</td><td>.1</td><td>-12.5</td><td>-37.1</td><td>-40.4</td><td>5.0</td><td>3.0</td><td>3.3</td><td>71.9</td><td>-1.2</td><td>-2.8</td><td>-3.2</td></tr><tr><td>1940</td><td>-9.5</td><td>-20.9</td><td>-5.7</td><td>-1.6</td><td>.4</td><td>.9</td><td>-</td><td>-</td><td>-3</td><td>-4.4</td><td>-3</td><td>-1.1</td></tr><tr><td>1941</td><td>-2.8</td><td>12.0</td><td>-</td><td>-7</td><td>-2</td><td>.4</td><td>-</td><td>-</td><td>-</td><td>-2</td><td>-</td><td>60.0</td></tr><tr><td>1942</td><td>-5</td><td>30.0</td><td>5.8</td><td>.3</td><td>-</td><td>.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>-114.8</td><td>-67.8</td><td>-15.8</td><td>-2.7</td><td>-</td><td>-5.0</td><td>4.8</td></tr><tr><td>1944</td><td>-9.9</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>
b 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.
46
Treasury Bulletin
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 31, 1943
The following tables present summary data from the Treasury survey, as of December 31, 1943, of the ownership of securities issued or guaranteed by the United States. The large commercial and savings banks and insurance companies covered in the survey account for approximately 95 percent of the holdings of United States Government and Government-guaranteed securities held by all banks and insurance companies in the United States.
Table I.- Analysis of Ownership by Type of Security, by Call Classes, and by Tax-Exempt Provisions
PART A - PAR VALUES IN MILLIONS OF DOLLARS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount outstanding</th><th colspan="7">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 7,504 institutions</th><th colspan="2">6,749 commercial banks</th><th colspan="2">155 insurance companies</th><th>546 fire, casualty, and marine insurance companies</th></tr><tr><td>1. By type of security</td><td></td><td></td><td>Total</td><td>6,239 commercial banks</td><td>510 savings banks 2/</td><td>Total</td><td>209 life insurance companies</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>13,072</td><td>4,800</td><td>4,728</td><td>4,716</td><td>12</td><td>72</td><td>68</td><td>3</td><td>6,788</td><td>1,484</td></tr><tr><td>Certificates of indebtedness</td><td>22,843</td><td>13,277</td><td>12,910</td><td>12,684</td><td>286</td><td>361</td><td>160</td><td>207</td><td>2,517</td><td>7,050</td></tr><tr><td>Treasury notes</td><td>11,175</td><td>7,862</td><td>7,586</td><td>7,383</td><td>204</td><td>275</td><td>147</td><td>128</td><td>731</td><td>2,583</td></tr><tr><td>Treasury bonds</td><td>67,944</td><td>47,159</td><td>33,769</td><td>28,099</td><td>5,671</td><td>13,389</td><td>11,715</td><td>1,674</td><td>5,173</td><td>15,613</td></tr><tr><td>Other bonds</td><td>196</td><td>14</td><td>14</td><td>14</td><td>*</td><td>1</td><td>*</td><td>*</td><td>34</td><td>147</td></tr><tr><td>Guaranteed issues 3/</td><td>4,020</td><td>2,786</td><td>2,504</td><td>2,465</td><td>39</td><td>283</td><td>291</td><td>31</td><td>524</td><td>709</td></tr><tr><td>Total</td><td>119,250</td><td>75,898</td><td>61,511</td><td>55,360</td><td>6,152</td><td>14,386</td><td>12,342</td><td>2,044</td><td>15,761</td><td>27,586</td></tr><tr><td>11. 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>42,831</td><td>21,941</td><td>20,994</td><td>20,647</td><td>348</td><td>947</td><td>625</td><td>322</td><td>9,998</td><td>10,891</td></tr><tr><td>1 to 5 years</td><td>22,940</td><td>17,007</td><td>15,322</td><td>14,706</td><td>616</td><td>1,685</td><td>1,241</td><td>444</td><td>1,875</td><td>4,058</td></tr><tr><td>5 to 10 years</td><td>30,015</td><td>22,315</td><td>18,837</td><td>16,248</td><td>2,590</td><td>3,477</td><td>2,825</td><td>653</td><td>1,482</td><td>6,218</td></tr><tr><td>10 to 15 years</td><td>6,641</td><td>4,306</td><td>2,778</td><td>2,273</td><td>505</td><td>1,528</td><td>1,210</td><td>318</td><td>666</td><td>1,669</td></tr><tr><td>15 to 20 years</td><td>6,484</td><td>4,425</td><td>1,401</td><td>623</td><td>778</td><td>3,024</td><td>2,836</td><td>188</td><td>573</td><td>1,486</td></tr><tr><td>Over 20 years</td><td>10,317</td><td>5,884</td><td>2,171</td><td>856</td><td>1,319</td><td>3,713</td><td>3,594</td><td>119</td><td>1,170</td><td>3,262</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>20</td><td>8</td><td>7</td><td>1</td><td>12</td><td>12</td><td>*</td><td>1</td><td>1</td></tr><tr><td>Total</td><td>119,250</td><td>75,898</td><td>61,511</td><td>55,360</td><td>6,152</td><td>14,386</td><td>12,342</td><td>2,044</td><td>15,761</td><td>27,586</td></tr><tr><td>111. 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 5/</td><td>2,128</td><td>505</td><td>471</td><td>469</td><td>3</td><td>34</td><td>3</td><td>31</td><td>267</td><td>1,355</td></tr><tr><td>Partially exempt from Federal income taxes 6/</td><td>27,326</td><td>18,893</td><td>15,304</td><td>14,496</td><td>808</td><td>3,589</td><td>2,535</td><td>1,054</td><td>2,769</td><td>5,663</td></tr><tr><td>Subject to Federal income taxes</td><td>89,796</td><td>56,499</td><td>45,736</td><td>40,395</td><td>5,341</td><td>10,764</td><td>9,804</td><td>960</td><td>12,730</td><td>20,567</td></tr><tr><td>Total</td><td>119,250</td><td>75,898</td><td>61,511</td><td>55,360</td><td>6,152</td><td>14,386</td><td>12,342</td><td>2,044</td><td>15,761</td><td>27,586</td></tr></table>
(Continued on following page)
February 1944
47
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 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>Classification</th><th>Total amount outstanding</th><th>7,504 institutions</th><th colspan="5">Held by banks and insurance companies covered in Treasury survey</th><th>Held by Government agencies and trust funds, and Federal Reserve Banks 3/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,749 banks</th><th colspan="3">755 insurance companies</th><th></th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,239 commercial banks</th><th>510 savings banks 2/</th><th>Total</th><th>209 life insurance companies</th><th>546 fire, casualty, and marine insurance companies</th><th></th></tr><tr><td>1. By type of security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>11.0</td><td>6.3</td><td>7.7</td><td>8.5</td><td>.2</td><td>.5</td><td>.6</td><td>.2</td><td>43.1</td><td>5.4</td></tr><tr><td>Certificates of indebtedness</td><td>19.2</td><td>17.5</td><td>21.0</td><td>22.9</td><td>3.7</td><td>2.6</td><td>1.3</td><td>10.1</td><td>15.0</td><td>25.6</td></tr><tr><td>Treasury notes</td><td>9.4</td><td>10.4</td><td>12.3</td><td>13.3</td><td>3.3</td><td>1.9</td><td>1.2</td><td>6.3</td><td>4.6</td><td>9.4</td></tr><tr><td>Treasury bonds</td><td>57.0</td><td>62.1</td><td>54.9</td><td>50.8</td><td>92.2</td><td>93.1</td><td>94.9</td><td>81.9</td><td>32.8</td><td>56.6</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>.2</td><td>.5</td></tr><tr><td>Guaranteed issues 4/</td><td>3.4</td><td>3.7</td><td>4.1</td><td>4.5</td><td>.6</td><td>2.0</td><td>2.0</td><td>1.5</td><td>3.3</td><td>2.6</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr><tr><td>2. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>35.9</td><td>28.9</td><td>34.1</td><td>37.3</td><td>5.6</td><td>6.6</td><td>5.1</td><td>15.8</td><td>63.4</td><td>39.5</td></tr><tr><td>1 to 5 years</td><td>19.2</td><td>22.4</td><td>24.9</td><td>26.6</td><td>10.0</td><td>11.7</td><td>10.1</td><td>21.7</td><td>11.9</td><td>14.7</td></tr><tr><td>5 to 10 years</td><td>25.2</td><td>29.4</td><td>30.6</td><td>29.3</td><td>42.1</td><td>24.2</td><td>22.9</td><td>31.9</td><td>9.4</td><td>22.5</td></tr><tr><td>10 to 15 years</td><td>5.6</td><td>5.7</td><td>4.5</td><td>4.1</td><td>8.2</td><td>10.6</td><td>9.8</td><td>15.6</td><td>4.2</td><td>6.0</td></tr><tr><td>15 to 20 years</td><td>5.4</td><td>5.8</td><td>2.3</td><td>1.1</td><td>12.6</td><td>21.0</td><td>23.0</td><td>9.2</td><td>3.6</td><td>5.4</td></tr><tr><td>Over 20 years</td><td>8.7</td><td>7.8</td><td>3.5</td><td>1.5</td><td>21.4</td><td>25.8</td><td>29.1</td><td>5.8</td><td>7.4</td><td>11.8</td></tr><tr><td>Federal Housing Administration debentures</td><td></td><td></td><td></td><td></td><td>.1</td><td></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>3. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 5/</td><td>1.8</td><td>.7</td><td>.8</td><td>.8</td><td></td><td>.2</td><td></td><td>1.5</td><td>1.7</td><td>4.9</td></tr><tr><td>Partially exempt from Federal income taxes 6/</td><td>22.9</td><td>24.9</td><td>24.9</td><td>26.2</td><td>13.1</td><td>24.9</td><td>20.5</td><td>51.5</td><td>17.6</td><td>20.5</td></tr><tr><td>Subject to Federal income taxes</td><td>75.3</td><td>74.4</td><td>74.4</td><td>73.0</td><td>86.8</td><td>74.8</td><td>79.4</td><td>46.9</td><td>80.8</td><td>74.6</td></tr><tr><td>Total</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td><td>100.0</td></tr></table>
PART C - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th rowspan="2">Classification</th><th rowspan="2">Total amount 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 3/</th><th rowspan="2">Held by all other investors</th></tr><tr><th>Total 7,504 institutions</th><th>Total</th><th>6,749 commercial banks</th><th>510 savings banks 2/</th><th>Total</th><th>209 life insurance companies</th><th>546 fire, casualty, and marine insurance companies</th></tr><tr><td>I. By type of security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities issued by United States</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>100.0</td><td>36.7</td><td>36.2</td><td>36.1</td><td>.1</td><td>.5</td><td>.5</td><td>*</td><td>51.9</td><td>11.4</td></tr><tr><td>Certificates of indebtedness</td><td>100.0</td><td>58.1</td><td>56.5</td><td>55.5</td><td>1.0</td><td>1.6</td><td>.7</td><td>.9</td><td>11.0</td><td>30.9</td></tr><tr><td>Treasury notes</td><td>100.0</td><td>70.4</td><td>67.9</td><td>66.1</td><td>1.8</td><td>2.5</td><td>1.3</td><td>1.1</td><td>6.5</td><td>23.1</td></tr><tr><td>Treasury bonds</td><td>100.0</td><td>69.4</td><td>49.7</td><td>41.4</td><td>8.3</td><td>19.7</td><td>17.2</td><td>2.5</td><td>7.6</td><td>23.0</td></tr><tr><td>Other bonds</td><td>100.0</td><td>7.3</td><td>7.0</td><td>6.9</td><td>.1</td><td>.3</td><td>.1</td><td>.2</td><td>17.4</td><td>75.2</td></tr><tr><td>Guaranteed issues 4/</td><td>100.0</td><td>69.3</td><td>62.3</td><td>61.3</td><td>1.0</td><td>7.0</td><td>6.2</td><td>.8</td><td>13.0</td><td>17.6</td></tr><tr><td>Total</td><td>100.0</td><td>63.6</td><td>51.6</td><td>46.4</td><td>5.2</td><td>12.1</td><td>10.3</td><td>1.7</td><td>13.2</td><td>23.1</td></tr><tr><td>II. By call classes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Due or first becoming callable</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Within 1 year</td><td>100.0</td><td>51.2</td><td>49.0</td><td>48.2</td><td>.8</td><td>2.2</td><td>1.5</td><td>.8</td><td>23.3</td><td>25.4</td></tr><tr><td>1 to 5 years</td><td>100.0</td><td>74.1</td><td>66.8</td><td>64.1</td><td>2.7</td><td>7.3</td><td>5.4</td><td>1.9</td><td>8.2</td><td>17.7</td></tr><tr><td>5 to 10 years</td><td>100.0</td><td>74.3</td><td>62.8</td><td>54.1</td><td>8.6</td><td>11.6</td><td>9.4</td><td>2.2</td><td>4.9</td><td>20.7</td></tr><tr><td>10 to 15 years</td><td>100.0</td><td>64.8</td><td>41.8</td><td>34.2</td><td>7.6</td><td>23.0</td><td>18.2</td><td>4.4</td><td>10.0</td><td>25.1</td></tr><tr><td>15 to 20 years</td><td>100.0</td><td>68.2</td><td>21.6</td><td>9.6</td><td>12.0</td><td>46.6</td><td>43.7</td><td>2.9</td><td>8.8</td><td>22.9</td></tr><tr><td>Over 20 years</td><td>100.0</td><td>57.0</td><td>21.0</td><td>8.3</td><td>12.7</td><td>36.0</td><td>34.8</td><td>1.2</td><td>11.3</td><td>31.6</td></tr><tr><td>Federal Housing Administration debentures</td><td>100.0</td><td>88.4</td><td>34.9</td><td>31.9</td><td>3.0</td><td>53.5</td><td>53.2</td><td>.3</td><td>5.2</td><td>6.2</td></tr><tr><td>Total</td><td>100.0</td><td>63.6</td><td>51.6</td><td>46.4</td><td>5.2</td><td>12.1</td><td>10.3</td><td>1.7</td><td>13.2</td><td>23.1</td></tr><tr><td>III. By tax-exemption provisions</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Wholly exempt from Federal income taxes 5/</td><td>100.0</td><td>23.7</td><td>22.2</td><td>22.0</td><td>.1</td><td>1.6</td><td>.1</td><td>1.5</td><td>12.6</td><td>61.7</td></tr><tr><td>Partially exempt from Federal income taxes 6/</td><td>100.0</td><td>69.1</td><td>56.0</td><td>53.0</td><td>3.0</td><td>13.1</td><td>9.3</td><td>3.9</td><td>10.1</td><td>20.7</td></tr><tr><td>Subject to Federal income taxes</td><td>100.0</td><td>62.9</td><td>50.9</td><td>45.0</td><td>5.9</td><td>12.0</td><td>10.9</td><td>1.1</td><td>14.2</td><td>22.9</td></tr><tr><td>Total</td><td>100.0</td><td>63.6</td><td>51.6</td><td>46.4</td><td>5.2</td><td>12.1</td><td>10.3</td><td>1.7</td><td>13.2</td><td>23.1</td></tr></table>
Back Figures: For revisions of previously published data on life insurance companies and on fire, casualty, and marine insurance companies, see "Treasury Bulletin" for November 1943, pages 52-63. 1/ Public marketable interest-bearing securities include all interest-bearing securities outstanding except (1) special issues to Government agencies and trust funds, (2) adjusted service bonds, (3) depositary bonds, (4) United States savings bonds, (5) Treasury savings notes and (6) Commodity Credit Corporation demand obligations. For amounts of such obligations held by institutions reporting, see Table II, footnote 1/. 2/ Exclude certain banks which accept demand deposits and which have been classified as commercial banks. In the Treasury survey for November 30, 1943, the nomenclature "savings banks"
replaced that of "mutual savings banks". This change reflected a more nearly correct designation of the nature of the banks included in this category without measurably affecting the comparability of the two classes. 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.)
48
Treasury Bulletin
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 31, 1943 - (Continued
Table 11.- 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 7,504 institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="2">Held by U.S. Government agencies and trust funds, and Federal Reserve Banks 3/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,749 commercial banks 2/</th><th>755 insurance companies</th><th colspan="2">546 life, fire, casualty, and marine insurance companies</th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,239</th><th>510</th><th>Total</th><th>209</th><th></th><th></th></tr><tr><td>I. Wholly exempt from Federal income taxes 4/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury notes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>14 March 1944</td><td>515</td><td>125</td><td>119</td><td>118</td><td>1</td><td>7</td><td>7</td><td>89</td><td>301</td></tr><tr><td>3/4 June 1944</td><td>416</td><td>112</td><td>105</td><td>105</td><td></td><td>7</td><td>2</td><td>60</td><td>244</td></tr><tr><td>14 September 1944</td><td>283</td><td>31</td><td>29</td><td>28</td><td></td><td>3</td><td>3</td><td>30</td><td>222</td></tr><tr><td>3/4 March 1945</td><td>718</td><td>222</td><td>206</td><td>205</td><td>1</td><td>17</td><td>16</td><td>56</td><td>440</td></tr><tr><td>Total Treasury notes</td><td>1,932</td><td>451</td><td>457</td><td>455</td><td>3</td><td>33</td><td>30</td><td>233</td><td>1,208</td></tr><tr><td>Bonds</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>13</td><td>12</td><td></td><td></td><td></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>49</td></tr><tr><td>Conversion</td><td>29</td><td>1</td><td>1</td><td>1</td><td></td><td></td><td></td><td></td><td>28</td></tr><tr><td>Total bonds</td><td>196</td><td>14</td><td>14</td><td>14</td><td></td><td>1</td><td></td><td>34</td><td>147</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>2,128</td><td>505</td><td>471</td><td>469</td><td>3</td><td>34</td><td>31</td><td>267</td><td>1,355</td></tr><tr><td>II. Partially exempt from Federal income taxes 5/</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></tr><tr><td>3-1/4% April 1944-46</td><td>1,519</td><td>771</td><td>616</td><td>583</td><td>33</td><td>154</td><td>119</td><td>35</td><td>267</td><td>481</td></tr><tr><td>14 December 1944-54</td><td>1,037</td><td>596</td><td>488</td><td>452</td><td>36</td><td>108</td><td>72</td><td>37</td><td>111</td><td>329</td></tr><tr><td>2-3/4% September 1945-47</td><td>1,214</td><td>763</td><td>592</td><td>559</td><td>34</td><td>171</td><td>142</td><td>29</td><td>166</td><td>285</td></tr><tr><td>2-1/2% December 1945</td><td>541</td><td>415</td><td>367</td><td>356</td><td>12</td><td>47</td><td>21</td><td>26</td><td>19</td><td>107</td></tr><tr><td>3-3/4% March 1946-56</td><td>489</td><td>318</td><td>221</td><td>204</td><td>17</td><td>98</td><td>84</td><td>14</td><td>71</td><td>100</td></tr><tr><td>3/4 June 1946-48</td><td>1,036</td><td>639</td><td>471</td><td>425</td><td>46</td><td>168</td><td>137</td><td>31</td><td>205</td><td>192</td></tr><tr><td>3-1/8% June 1946-49</td><td>819</td><td>481</td><td>354</td><td>322</td><td>31</td><td>127</td><td>105</td><td>22</td><td>88</td><td>250</td></tr><tr><td>4-1/4% October 1947-52</td><td>759</td><td>424</td><td>318</td><td>283</td><td>35</td><td>106</td><td>73</td><td>33</td><td>82</td><td>252</td></tr><tr><td>2% December 1947</td><td>701</td><td>606</td><td>569</td><td>561</td><td>8</td><td>37</td><td>6</td><td>31</td><td>1</td><td>93</td></tr><tr><td>2-3/4% March 1948-51</td><td>1,223</td><td>955</td><td>821</td><td>788</td><td>34</td><td>133</td><td>97</td><td>36</td><td>161</td><td>108</td></tr><tr><td>2-1/2% September 1948</td><td>451</td><td>394</td><td>354</td><td>349</td><td>6</td><td>39</td><td>24</td><td>16</td><td>-</td><td>57</td></tr><tr><td>2% December 1948-50</td><td>571</td><td>473</td><td>447</td><td>443</td><td>4</td><td>26</td><td>5</td><td>21</td><td>44</td><td>54</td></tr><tr><td>3-1/8% December 1949-52</td><td>491</td><td>374</td><td>291</td><td>269</td><td>22</td><td>83</td><td>57</td><td>26</td><td>41</td><td>76</td></tr><tr><td>2-1/2% December 1949-53</td><td>1,786</td><td>1,315</td><td>1,209</td><td>1,173</td><td>37</td><td>106</td><td>41</td><td>64</td><td>231</td><td>240</td></tr><tr><td>2-1/2% September 1950-52</td><td>1,186</td><td>995</td><td>876</td><td>834</td><td>42</td><td>119</td><td>64</td><td>54</td><td>118</td><td>73</td></tr><tr><td>2-3/4% June 1951-54</td><td>1,627</td><td>1,251</td><td>950</td><td>883</td><td>67</td><td>301</td><td>234</td><td>67</td><td>169</td><td>207</td></tr><tr><td>3/4 September 1951-55</td><td>755</td><td>367</td><td>280</td><td>259</td><td>22</td><td>87</td><td>59</td><td>27</td><td>80</td><td>309</td></tr><tr><td>2-1/4% December 1951-53</td><td>1,118</td><td>909</td><td>862</td><td>846</td><td>16</td><td>47</td><td>17</td><td>31</td><td>110</td><td>99</td></tr><tr><td>2% June 1953-55</td><td>725</td><td>649</td><td>621</td><td>618</td><td>3</td><td>28</td><td>2</td><td>26</td><td>17</td><td>59</td></tr><tr><td>2-1/4% June 1954-56</td><td>681</td><td>541</td><td>457</td><td>446</td><td>11</td><td>84</td><td>48</td><td>36</td><td>50</td><td>89</td></tr><tr><td>2-7/8% March 1955-60</td><td>2,611</td><td>1,277</td><td>899</td><td>795</td><td>105</td><td>378</td><td>252</td><td>126</td><td>361</td><td>973</td></tr><tr><td>2-3/4% September 1956-59</td><td>982</td><td>680</td><td>454</td><td>422</td><td>32</td><td>226</td><td>156</td><td>69</td><td>128</td><td>175</td></tr><tr><td>2-3/4% June 1958-63</td><td>919</td><td>727</td><td>409</td><td>368</td><td>41</td><td>318</td><td>250</td><td>68</td><td>69</td><td>123</td></tr><tr><td>2-3/4% December 1960-65</td><td>1,485</td><td>1,060</td><td>710</td><td>622</td><td>88</td><td>350</td><td>243</td><td>107</td><td>108</td><td>317</td></tr><tr><td>Total Treasury bonds</td><td>24,726</td><td>16,978</td><td>13,538</td><td>12,858</td><td>780</td><td>3,341</td><td>2,309</td><td>1,032</td><td>2,697</td><td>5,051</td></tr><tr><td>Guaranteed issues 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>33</td><td>27</td><td>6</td><td>26</td><td>25</td><td>1</td><td>8</td><td>28</td></tr><tr><td>3/4 May 1944-49</td><td>535</td><td>587</td><td>490</td><td>484</td><td>6</td><td>98</td><td>92</td><td>6</td><td>26</td><td>221</td></tr><tr><td>Federal Housing Administration debentures</td><td>22</td><td>20</td><td>8</td><td>7</td><td>1</td><td>12</td><td>12</td><td></td><td>1</td><td>1</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>489</td><td>423</td><td>410</td><td>13</td><td>66</td><td>60</td><td>6</td><td>35</td><td>255</td></tr><tr><td>1-1/2% June 1945-47</td><td>755</td><td>677</td><td>633</td><td>629</td><td>4</td><td>44</td><td>37</td><td>8</td><td>3</td><td>75</td></tr><tr><td>Federal Public Housing Authority</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>1-3/8% February 1944</td><td>114</td><td>82</td><td>80</td><td>80</td><td></td><td>2</td><td></td><td>1</td><td></td><td>32</td></tr><tr><td>Total guaranteed issues</td><td>2,600</td><td>1,915</td><td>1,667</td><td>1,638</td><td>29</td><td>248</td><td>226</td><td>22</td><td>73</td><td>613</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>27,326</td><td>18,893</td><td>15,304</td><td>14,496</td><td>808</td><td>3,589</td><td>2,535</td><td>1,054</td><td>2,769</td><td>5,663</td></tr></table>
(Continued on following page)
February 1944
49
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 31, 1943 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART A - PAR VALUES IN MILLIONS OF DOLLARS-(Continued)
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total 7.50% institutions</th><th colspan="3">Held by banks and insurance companies covered in Treasury survey</th><th colspan="2">Held by U.S. Government agencies and trust funds, and Federal Reserve Banks</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th colspan="2">6,749 banks</th><th>755 insurance companies</th><th>209 life insurance companies</th><th>546 fire, casualty, and marine insurance companies</th><th></th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,239 commercial banks</th><th>510 savings banks</th><th>Total</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></tr><tr><td>Treasury bills</td><td>13,072</td><td>4,800</td><td>4,728</td><td>4,716</td><td>12</td><td>72</td><td>68</td><td>3</td><td>6,788</td><td>1,484</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% February 1944</td><td>2,211</td><td>1,432</td><td>1,395</td><td>1,379</td><td>16</td><td>37</td><td>13</td><td>25</td><td>278</td><td>501</td></tr><tr><td>7/8% April 1944</td><td>5,251</td><td>2,733</td><td>2,615</td><td>2,568</td><td>47</td><td>118</td><td>79</td><td>39</td><td>709</td><td>1,809</td></tr><tr><td>7/8% May 1944</td><td>1,655</td><td>1,193</td><td>1,183</td><td>1,178</td><td>5</td><td>10</td><td>2</td><td>8</td><td>290</td><td>172</td></tr><tr><td>7/8% August 1944</td><td>2,545</td><td>1,902</td><td>1,883</td><td>1,864</td><td>19</td><td>18</td><td>1</td><td>17</td><td>395</td><td>249</td></tr><tr><td>7/8% September 1944</td><td>4,122</td><td>973</td><td>855</td><td>751</td><td>103</td><td>119</td><td>23</td><td>95</td><td>52</td><td>3,097</td></tr><tr><td>7/8% October 1944</td><td>3,519</td><td>2,543</td><td>2,517</td><td>2,502</td><td>16</td><td>26</td><td>14</td><td>12</td><td>490</td><td>486</td></tr><tr><td>7/8% December 1944</td><td>3,540</td><td>2,500</td><td>2,462</td><td>2,443</td><td>19</td><td>39</td><td>28</td><td>11</td><td>303</td><td>736</td></tr><tr><td>Total certificates of indebtedness</td><td>22,843</td><td>13,277</td><td>12,910</td><td>12,684</td><td>226</td><td>367</td><td>160</td><td>207</td><td>2,517</td><td>7,050</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>488</td><td>460</td><td>451</td><td>9</td><td>28</td><td>22</td><td>6</td><td>24</td><td>122</td></tr><tr><td>1-1/4% March 1945</td><td>1,606</td><td>1,162</td><td>1,125</td><td>1,104</td><td>21</td><td>37</td><td>24</td><td>12</td><td>165</td><td>279</td></tr><tr><td>3/4% December 1945</td><td>531</td><td>436</td><td>405</td><td>393</td><td>13</td><td>30</td><td>20</td><td>9</td><td>22</td><td>73</td></tr><tr><td>1% March 1946</td><td>503</td><td>432</td><td>401</td><td>392</td><td>10</td><td>30</td><td>24</td><td>7</td><td>1</td><td>70</td></tr><tr><td>1-1/2% December 1946</td><td>3,261</td><td>2,623</td><td>2,567</td><td>2,496</td><td>72</td><td>56</td><td>21</td><td>35</td><td>284</td><td>353</td></tr><tr><td>1-1/2% September 1947</td><td>2,707</td><td>2,230</td><td>2,169</td><td>2,092</td><td>77</td><td>61</td><td>33</td><td>28</td><td>*</td><td>477</td></tr><tr><td>Total Treasury notes</td><td>9,243</td><td>7,371</td><td>7,129</td><td>6,927</td><td>201</td><td>242</td><td>144</td><td>98</td><td>498</td><td>1,375</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>899</td><td>680</td><td>569</td><td>111</td><td>219</td><td>196</td><td>23</td><td>59</td><td>157</td></tr><tr><td>1-3/4% June 1948</td><td>3,062</td><td>2,495</td><td>2,284</td><td>2,207</td><td>77</td><td>212</td><td>168</td><td>43</td><td>7</td><td>560</td></tr><tr><td>2% June 1949-51</td><td>1,014</td><td>912</td><td>780</td><td>683</td><td>98</td><td>132</td><td>118</td><td>14</td><td>22</td><td>80</td></tr><tr><td>2% September 1949-51</td><td>1,292</td><td>1,162</td><td>1,013</td><td>899</td><td>114</td><td>149</td><td>130</td><td>19</td><td>12</td><td>118</td></tr><tr><td>2% December 1949-51</td><td>2,098</td><td>1,750</td><td>1,528</td><td>1,398</td><td>129</td><td>222</td><td>200</td><td>22</td><td>14</td><td>333</td></tr><tr><td>2% March 1950-52</td><td>1,963</td><td>1,809</td><td>1,571</td><td>1,451</td><td>120</td><td>238</td><td>214</td><td>24</td><td>50</td><td>104</td></tr><tr><td>2% September 1950-52</td><td>4,939</td><td>3,486</td><td>2,879</td><td>2,585</td><td>294</td><td>607</td><td>540</td><td>67</td><td>114</td><td>1,340</td></tr><tr><td>2% September 1951-53</td><td>7,986</td><td>4,987</td><td>4,047</td><td>3,067</td><td>980</td><td>940</td><td>775</td><td>165</td><td>349</td><td>2,690</td></tr><tr><td>2% December 1951-55</td><td>510</td><td>409</td><td>375</td><td>355</td><td>20</td><td>35</td><td>26</td><td>9</td><td>18</td><td>83</td></tr><tr><td>2-1/2% March 1952-54</td><td>1,024</td><td>734</td><td>594</td><td>272</td><td>322</td><td>140</td><td>128</td><td>12</td><td>68</td><td>222</td></tr><tr><td>2-1/4% June 1952-55</td><td>1,501</td><td>1,206</td><td>962</td><td>657</td><td>305</td><td>245</td><td>219</td><td>26</td><td>70</td><td>225</td></tr><tr><td>2-1/2% March 1956-58</td><td>1,449</td><td>1,082</td><td>559</td><td>242</td><td>316</td><td>523</td><td>504</td><td>19</td><td>58</td><td>309</td></tr><tr><td>2-1/2% June 1962-67</td><td>2,118</td><td>1,504</td><td>198</td><td>-</td><td>198</td><td>1,305</td><td>1,260</td><td>45</td><td>200</td><td>415</td></tr><tr><td>2-1/2% December 1963-68</td><td>2,831</td><td>1,860</td><td>492</td><td>-</td><td>492</td><td>1,368</td><td>1,333</td><td>36</td><td>266</td><td>705</td></tr><tr><td>2-1/2% June 1964-69</td><td>3,762</td><td>2,184</td><td>609</td><td>-</td><td>609</td><td>1,575</td><td>1,539</td><td>36</td><td>380</td><td>1,198</td></tr><tr><td>2-1/2% December 1964-69</td><td>3,839</td><td>1,923</td><td>361</td><td>-</td><td>361</td><td>1,563</td><td>1,517</td><td>45</td><td>488</td><td>1,428</td></tr><tr><td>2-1/2% September 1967-72</td><td>2,716</td><td>1,777</td><td>1,201</td><td>856</td><td>345</td><td>576</td><td>537</td><td>38</td><td>303</td><td>636</td></tr><tr><td>Total Treasury bonds</td><td>43,218</td><td>30,180</td><td>20,132</td><td>15,241</td><td>4,891</td><td>10,048</td><td>9,407</td><td>642</td><td>2,476</td><td>10,562</td></tr><tr><td>Guaranteed issues 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>361</td><td>336</td><td>330</td><td>6</td><td>26</td><td>21</td><td>4</td><td>4</td><td>46</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>510</td><td>501</td><td>497</td><td>4</td><td>9</td><td>4</td><td>5</td><td>11</td><td>50</td></tr><tr><td>1% January 1945</td><td>437</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>437</td><td>-</td></tr><tr><td>Total guaranteed issues</td><td>1,420</td><td>872</td><td>837</td><td>827</td><td>10</td><td>34</td><td>25</td><td>10</td><td>452</td><td>96</td></tr><tr><td>Total subject to Federal income taxes</td><td>89,796</td><td>56,499</td><td>45,736</td><td>40,395</td><td>5,341</td><td>10,784</td><td>9,804</td><td>960</td><td>12,730</td><td>20,567</td></tr><tr><td>IV. Grand total</td><td>119,250</td><td>75,898</td><td>61,511</td><td>55,360</td><td>6,152</td><td>14,386</td><td>12,342</td><td>2,044</td><td>15,767</td><td>27,586</td></tr></table>
(Continued on following page)
50
Treasury Bulletin
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 31, 1943 - (Continued)
Table II.- Distribution of Ownership for Each Issue Outstanding - (Continued)
PART B - PERCENTAGE DISTRIBUTION BY GROUPS OF INVESTORS
<table><tr><th>Issue, classified by tax-exemption provision</th><th>Total amount outstanding</th><th>Total 7,504 institutions</th><th colspan="3">6.7% banks</th><th colspan="3">755 insurance companies</th><th>Held by U.S. Government agencies and trust funds, and Federal Reserve Banks 3/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th></th><th>Total</th><th>6,239 commercial banks</th><th>510 savings banks 2/</th><th>Total</th><th>209 life insurance companies</th><th>546 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>I. Wholly exempt from Federal income taxes 4/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury 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$ March 1944</td><td>100.0</td><td>24.3</td><td>23.0</td><td>22.8</td><td>.2</td><td>1.3</td><td>*</td><td>1.3</td><td>17.2</td><td>58.5</td></tr><tr><td>3/4$ June 1944</td><td>100.0</td><td>26.9</td><td>25.2</td><td>25.2</td><td>.1</td><td>1.7</td><td>.6</td><td>1.1</td><td>14.3</td><td>58.8</td></tr><tr><td>1$ September 1944</td><td>100.0</td><td>11.1</td><td>10.1</td><td>10.0</td><td>.1</td><td>.9</td><td>*</td><td>.9</td><td>10.4</td><td>78.5</td></tr><tr><td>3/4$ March 1945</td><td>100.0</td><td>31.0</td><td>28.6</td><td>28.5</td><td>.1</td><td>2.3</td><td>*</td><td>2.3</td><td>7.7</td><td>61.3</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>25.4</td><td>23.7</td><td>23.6</td><td>.1</td><td>1.7</td><td>.1</td><td>1.6</td><td>12.1</td><td>62.5</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>11.1</td><td>10.7</td><td>10.5</td><td>.1</td><td>.4</td><td>.1</td><td>.3</td><td>29.1</td><td>59.8</td></tr><tr><td>Panama Canal</td><td>100.0</td><td>1.5</td><td>1.2</td><td>1.2</td><td>-</td><td>.3</td><td>.2</td><td>.1</td><td>-</td><td>98.5</td></tr><tr><td>Conversion</td><td>100.0</td><td>2.1</td><td>1.9</td><td>1.9</td><td>-</td><td>.2</td><td>-</td><td>.2</td><td>-</td><td>97.9</td></tr><tr><td>Total bonds</td><td>100.0</td><td>7.3</td><td>7.0</td><td>6.9</td><td>.1</td><td>.3</td><td>.1</td><td>.2</td><td>17.4</td><td>75.2</td></tr><tr><td>Total wholly exempt from Federal income taxes</td><td>100.0</td><td>23.7</td><td>22.2</td><td>22.0</td><td>.1</td><td>1.6</td><td>.1</td><td>1.5</td><td>12.6</td><td>63.7</td></tr><tr><td>II. Partially exempt from Federal income taxes 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>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% April 1946-46</td><td>100.0</td><td>50.7</td><td>40.6</td><td>38.4</td><td>2.2</td><td>10.2</td><td>7.8</td><td>2.3</td><td>17.6</td><td>31.7</td></tr><tr><td>1$ December 1946-54</td><td>100.0</td><td>57.5</td><td>47.1</td><td>43.6</td><td>3.5</td><td>10.4</td><td>6.9</td><td>3.5</td><td>10.7</td><td>31.8</td></tr><tr><td>2-3/4% September 1945-47</td><td>100.0</td><td>62.9</td><td>48.8</td><td>46.0</td><td>2.8</td><td>14.1</td><td>11.7</td><td>2.4</td><td>13.6</td><td>23.5</td></tr><tr><td>2-1/2% December 1945</td><td>100.0</td><td>76.7</td><td>67.9</td><td>65.7</td><td>2.2</td><td>8.8</td><td>4.0</td><td>4.8</td><td>3.5</td><td>19.8</td></tr><tr><td>3-1/4% March 1946-56</td><td>100.0</td><td>65.1</td><td>45.1</td><td>41.7</td><td>3.4</td><td>20.0</td><td>17.2</td><td>2.8</td><td>14.5</td><td>20.4</td></tr><tr><td>3/4% June 1946-48</td><td>100.0</td><td>61.7</td><td>45.5</td><td>41.0</td><td>4.5</td><td>16.2</td><td>13.3</td><td>3.0</td><td>19.8</td><td>18.5</td></tr><tr><td>3-1/8% June 1946-49</td><td>100.0</td><td>58.8</td><td>43.2</td><td>39.4</td><td>3.8</td><td>15.5</td><td>12.9</td><td>2.7</td><td>10.7</td><td>30.5</td></tr><tr><td>4-1/4% October 1947-52</td><td>100.0</td><td>55.9</td><td>41.9</td><td>37.3</td><td>4.6</td><td>14.0</td><td>9.7</td><td>4.3</td><td>10.8</td><td>33.3</td></tr><tr><td>2% December 1947</td><td>100.0</td><td>86.5</td><td>81.2</td><td>80.1</td><td>1.1</td><td>5.3</td><td>.9</td><td>4.4</td><td>.2</td><td>13.3</td></tr><tr><td>2-3/4% March 1948-51</td><td>100.0</td><td>78.0</td><td>67.1</td><td>64.4</td><td>2.7</td><td>10.9</td><td>8.0</td><td>2.9</td><td>13.1</td><td>8.9</td></tr><tr><td>2-1/2% September 1948</td><td>100.0</td><td>87.3</td><td>78.6</td><td>77.3</td><td>1.3</td><td>8.7</td><td>5.3</td><td>3.5</td><td>-</td><td>12.7</td></tr><tr><td>2% December 1948-50</td><td>100.0</td><td>82.8</td><td>78.3</td><td>77.6</td><td>.7</td><td>4.5</td><td>.8</td><td>3.7</td><td>7.7</td><td>9.5</td></tr><tr><td>3-1/8% December 1949-52</td><td>100.0</td><td>76.0</td><td>59.1</td><td>54.7</td><td>4.5</td><td>16.9</td><td>11.5</td><td>5.4</td><td>8.4</td><td>15.6</td></tr><tr><td>2-1/2% December 1949-53</td><td>100.0</td><td>73.6</td><td>67.7</td><td>65.7</td><td>2.0</td><td>5.9</td><td>2.3</td><td>3.6</td><td>12.9</td><td>13.4</td></tr><tr><td>2-1/2% September 1950-52</td><td>100.0</td><td>83.9</td><td>73.9</td><td>70.3</td><td>3.5</td><td>10.0</td><td>5.4</td><td>4.6</td><td>10.0</td><td>6.2</td></tr><tr><td>2-3/4% June 1951-54</td><td>100.0</td><td>76.9</td><td>58.4</td><td>54.3</td><td>4.1</td><td>18.5</td><td>14.4</td><td>4.1</td><td>10.4</td><td>12.7</td></tr><tr><td>3% September 1951-55</td><td>100.0</td><td>48.5</td><td>37.1</td><td>34.2</td><td>2.9</td><td>11.5</td><td>7.8</td><td>3.6</td><td>10.6</td><td>40.9</td></tr><tr><td>2-1/4% December 1951-53</td><td>100.0</td><td>81.3</td><td>77.1</td><td>75.7</td><td>1.4</td><td>4.2</td><td>1.5</td><td>2.8</td><td>9.8</td><td>8.8</td></tr><tr><td>2% June 1953-55</td><td>100.0</td><td>89.5</td><td>85.7</td><td>85.2</td><td>.4</td><td>3.9</td><td>.3</td><td>3.6</td><td>2.3</td><td>8.2</td></tr><tr><td>2-1/4% June 1954-56</td><td>100.0</td><td>79.5</td><td>67.1</td><td>65.6</td><td>1.6</td><td>12.4</td><td>7.0</td><td>5.4</td><td>7.4</td><td>13.1</td></tr><tr><td>2-7/8% March 1955-60</td><td>100.0</td><td>48.9</td><td>34.4</td><td>30.4</td><td>4.0</td><td>14.5</td><td>9.6</td><td>4.8</td><td>13.8</td><td>37.3</td></tr><tr><td>2-3/4% September 1956-59</td><td>100.0</td><td>69.2</td><td>46.2</td><td>43.0</td><td>3.3</td><td>23.0</td><td>15.9</td><td>7.1</td><td>13.0</td><td>17.8</td></tr><tr><td>2-3/4% June 1958-63</td><td>100.0</td><td>79.1</td><td>44.5</td><td>40.1</td><td>4.4</td><td>34.6</td><td>27.3</td><td>7.4</td><td>7.5</td><td>13.3</td></tr><tr><td>2-3/4% December 1960-65</td><td>100.0</td><td>71.4</td><td>47.8</td><td>41.9</td><td>5.9</td><td>23.6</td><td>16.4</td><td>7.2</td><td>7.3</td><td>21.3</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>68.7</td><td>55.2</td><td>52.0</td><td>3.2</td><td>13.5</td><td>9.3</td><td>4.2</td><td>10.9</td><td>20.4</td></tr><tr><td>Guaranteed issues 6/</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>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>61.9</td><td>34.6</td><td>28.4</td><td>6.3</td><td>27.2</td><td>26.2</td><td>1.0</td><td>8.4</td><td>29.8</td></tr><tr><td>3% May 1944-49</td><td>100.0</td><td>70.3</td><td>58.6</td><td>57.9</td><td>.7</td><td>11.7</td><td>11.0</td><td>.7</td><td>3.2</td><td>26.5</td></tr><tr><td>Federal Sousing Administration debentures</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Some 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>62.9</td><td>54.3</td><td>52.7</td><td>1.6</td><td>8.5</td><td>7.8</td><td>.8</td><td>4.4</td><td>32.7</td></tr><tr><td>1-1/2% June 1945-57</td><td>100.0</td><td>89.7</td><td>83.9</td><td>83.4</td><td>.5</td><td>5.9</td><td>4.8</td><td>1.0</td><td>.3</td><td>9.9</td></tr><tr><td>Federal Public Sousing 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>72.2</td><td>70.5</td><td>70.4</td><td>.1</td><td>1.7</td><td>.4</td><td>1.3</td><td>*</td><td>27.8</td></tr><tr><td>Total guaranteed issues</td><td>100.0</td><td>73.6</td><td>64.1</td><td>63.0</td><td>1.1</td><td>9.5</td><td>8.7</td><td>.8</td><td>2.8</td><td>23.6</td></tr><tr><td>Total partially exempt from Federal income taxes</td><td>100.0</td><td>69.1</td><td>56.0</td><td>53.0</td><td>3.0</td><td>13.1</td><td>9.3</td><td>3.9</td><td>10.1</td><td>20.7</td></tr></table>
(Continued on following page)
February 1944
51
Summary Data from Treasury Survey of Ownership of Securities Issued or Guaranteed by the United States, December 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 colspan="8">Public marketable interest-bearing securities 1/ Held by banks and insurance companies covered in Treasury survey</th><th>Held by U. S. Government agencies and trust funds, and Federal Reserve Banks 2/</th><th>Held by all other investors</th></tr><tr><th></th><th></th><th>Total 7.50% institutions</th><th>Total</th><th>6,749 commercial banks</th><th>510 savings banks 2/</th><th>755 insurance companies</th><th>209 life insurance companies</th><th>546 fire, casualty, and marine insurance companies</th><th></th><th></th></tr><tr><td>III. Subject to Federal income taxes</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Treasury bills</td><td>100.0</td><td>36.7</td><td>36.2</td><td>36.1</td><td>.1</td><td>.5</td><td>.5</td><td>*</td><td>51.9</td><td>11.4</td></tr><tr><td>Certificates of indebtedness</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>7/8% February 1944</td><td>100.0</td><td>64.8</td><td>63.1</td><td>62.4</td><td>.7</td><td>1.7</td><td>.6</td><td>1.1</td><td>12.6</td><td>22.6</td></tr><tr><td>7/8% April 1944</td><td>100.0</td><td>52.0</td><td>49.8</td><td>48.9</td><td>.9</td><td>2.2</td><td>1.5</td><td>.7</td><td>13.5</td><td>34.5</td></tr><tr><td>7/8% May 1944</td><td>100.0</td><td>72.1</td><td>71.5</td><td>71.2</td><td>.3</td><td>.6</td><td>.1</td><td>.5</td><td>17.5</td><td>10.4</td></tr><tr><td>7/8% August 1944</td><td>100.0</td><td>74.7</td><td>74.0</td><td>73.2</td><td>.8</td><td>.7</td><td>*</td><td>.7</td><td>15.5</td><td>9.8</td></tr><tr><td>7/8% September 1944</td><td>100.0</td><td>23.6</td><td>20.7</td><td>18.2</td><td>2.5</td><td>2.9</td><td>.6</td><td>2.3</td><td>1.3</td><td>75.1</td></tr><tr><td>7/8% October 1944</td><td>100.0</td><td>72.3</td><td>71.5</td><td>71.1</td><td>.4</td><td>.7</td><td>.4</td><td>.3</td><td>13.9</td><td>13.8</td></tr><tr><td>7/8% December 1944</td><td>100.0</td><td>70.6</td><td>69.5</td><td>69.0</td><td>.5</td><td>1.1</td><td>.8</td><td>.3</td><td>8.6</td><td>20.8</td></tr><tr><td>Total certificates of indebtedness</td><td>100.0</td><td>58.1</td><td>56.5</td><td>55.5</td><td>1.0</td><td>1.6</td><td>.7</td><td>.9</td><td>11.0</td><td>30.9</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><td></td></tr><tr><td>3/4% September 1944</td><td>100.0</td><td>76.9</td><td>72.5</td><td>71.0</td><td>1.5</td><td>4.4</td><td>3.4</td><td>1.0</td><td>3.8</td><td>19.3</td></tr><tr><td>1-1/4% March 1945</td><td>100.0</td><td>72.3</td><td>70.0</td><td>68.7</td><td>1.3</td><td>2.3</td><td>1.5</td><td>.8</td><td>10.3</td><td>17.4</td></tr><tr><td>3/4% December 1945</td><td>100.0</td><td>82.1</td><td>76.4</td><td>74.0</td><td>2.4</td><td>5.6</td><td>3.8</td><td>1.8</td><td>4.2</td><td>13.8</td></tr><tr><td>1% March 1946</td><td>100.0</td><td>85.9</td><td>79.8</td><td>77.9</td><td>1.9</td><td>6.0</td><td>4.7</td><td>1.3</td><td>.2</td><td>13.9</td></tr><tr><td>1-1/2% December 1946</td><td>100.0</td><td>80.4</td><td>78.7</td><td>76.5</td><td>2.2</td><td>1.7</td><td>.6</td><td>1.1</td><td>8.7</td><td>10.8</td></tr><tr><td>1-1/2% September 1947</td><td>100.0</td><td>82.4</td><td>80.1</td><td>77.3</td><td>2.8</td><td>2.3</td><td>1.2</td><td>1.0</td><td>*</td><td>17.6</td></tr><tr><td>Total Treasury notes</td><td>100.0</td><td>79.7</td><td>77.1</td><td>74.9</td><td>2.2</td><td>2.6</td><td>1.6</td><td>1.1</td><td>5.4</td><td>14.9</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><td></td></tr><tr><td>2% March 1948-50</td><td>100.0</td><td>80.6</td><td>60.9</td><td>51.0</td><td>9.9</td><td>19.7</td><td>17.6</td><td>2.1</td><td>5.3</td><td>14.1</td></tr><tr><td>1-3/4% June 1948</td><td>100.0</td><td>81.5</td><td>74.6</td><td>72.1</td><td>2.5</td><td>6.9</td><td>5.5</td><td>1.4</td><td>.2</td><td>18.3</td></tr><tr><td>2% June 1949-51</td><td>100.0</td><td>90.0</td><td>77.0</td><td>67.3</td><td>9.7</td><td>13.0</td><td>11.6</td><td>1.4</td><td>2.1</td><td>7.9</td></tr><tr><td>2% September 1949-51</td><td>100.0</td><td>89.9</td><td>78.4</td><td>69.6</td><td>8.8</td><td>11.5</td><td>10.0</td><td>1.5</td><td>.9</td><td>9.2</td></tr><tr><td>2% December 1949-51</td><td>100.0</td><td>83.4</td><td>72.8</td><td>66.7</td><td>6.2</td><td>10.6</td><td>9.5</td><td>1.1</td><td>.7</td><td>15.9</td></tr><tr><td>2% March 1950-52</td><td>100.0</td><td>92.2</td><td>80.0</td><td>74.0</td><td>6.1</td><td>12.1</td><td>10.9</td><td>1.2</td><td>2.5</td><td>5.3</td></tr><tr><td>2% September 1950-52</td><td>100.0</td><td>70.6</td><td>58.3</td><td>52.3</td><td>6.0</td><td>12.3</td><td>10.9</td><td>1.4</td><td>2.3</td><td>27.1</td></tr><tr><td>2% September 1951-53</td><td>100.0</td><td>62.5</td><td>50.7</td><td>38.4</td><td>12.3</td><td>11.8</td><td>9.7</td><td>2.1</td><td>4.4</td><td>33.2</td></tr><tr><td>2% December 1951-55</td><td>100.0</td><td>80.2</td><td>73.4</td><td>69.6</td><td>3.8</td><td>6.8</td><td>5.1</td><td>1.7</td><td>3.6</td><td>16.2</td></tr><tr><td>2-1/2% March 1952-54</td><td>100.0</td><td>71.7</td><td>58.0</td><td>26.6</td><td>31.4</td><td>13.7</td><td>12.5</td><td>1.2</td><td>6.6</td><td>21.7</td></tr><tr><td>2-1/4% June 1952-55</td><td>100.0</td><td>80.4</td><td>64.1</td><td>43.8</td><td>20.3</td><td>16.3</td><td>14.6</td><td>1.7</td><td>4.6</td><td>15.0</td></tr><tr><td>2-1/2% March 1956-58</td><td>100.0</td><td>74.7</td><td>38.6</td><td>16.7</td><td>21.8</td><td>36.1</td><td>34.8</td><td>1.3</td><td>4.0</td><td>21.3</td></tr><tr><td>2-1/2% June 1962-67</td><td>100.0</td><td>71.0</td><td>9.4</td><td>-</td><td>9.4</td><td>61.6</td><td>59.5</td><td>2.1</td><td>9.4</td><td>19.6</td></tr><tr><td>2-1/2% December 1963-68</td><td>100.0</td><td>65.7</td><td>17.4</td><td>-</td><td>17.4</td><td>48.3</td><td>47.1</td><td>1.3</td><td>9.4</td><td>24.9</td></tr><tr><td>2-1/2% June 1964-69</td><td>100.0</td><td>58.1</td><td>16.2</td><td>-</td><td>16.2</td><td>41.9</td><td>40.9</td><td>.9</td><td>10.1</td><td>31.8</td></tr><tr><td>2-1/2% December 1969-69</td><td>100.0</td><td>50.1</td><td>9.4</td><td>-</td><td>9.4</td><td>40.7</td><td>39.5</td><td>1.2</td><td>12.7</td><td>37.2</td></tr><tr><td>2-1/2% September 1967-72</td><td>100.0</td><td>65.4</td><td>44.2</td><td>31.5</td><td>12.7</td><td>21.2</td><td>19.8</td><td>1.4</td><td>11.2</td><td>23.4</td></tr><tr><td>Total Treasury bonds</td><td>100.0</td><td>69.8</td><td>46.6</td><td>35.3</td><td>11.3</td><td>23.3</td><td>21.8</td><td>1.5</td><td>5.7</td><td>24.4</td></tr><tr><td>Guaranteed issues 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>Commodity Credit Corporation 1-1/8% February 1945</td><td>100.0</td><td>87.8</td><td>81.6</td><td>80.2</td><td>1.4</td><td>6.2</td><td>5.2</td><td>1.1</td><td>1.0</td><td>11.2</td></tr><tr><td>Reconstruction Finance Corporation 1% April 1944</td><td>100.0</td><td>89.3</td><td>87.7</td><td>86.9</td><td>.8</td><td>1.6</td><td>.6</td><td>.9</td><td>1.9</td><td>8.8</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>61.4</td><td>59.0</td><td>58.2</td><td>.7</td><td>2.4</td><td>1.7</td><td>.7</td><td>31.8</td><td>6.8</td></tr><tr><td>Total subject to Federal income taxes</td><td>100.0</td><td>62.9</td><td>50.9</td><td>45.0</td><td>5.9</td><td>12.0</td><td>10.9</td><td>1.1</td><td>14.2</td><td>22.9</td></tr><tr><td>IV. Grand total</td><td>100.0</td><td>63.6</td><td>51.6</td><td>46.4</td><td>5.2</td><td>12.1</td><td>10.3</td><td>1.7</td><td>13.2</td><td>23.1</td></tr></table>
Back Figures: For revisions of previously published data on life insurance companies and on fire, casualty, and marine insurance companies, see "Treasury Bulletin" for November 1943, pages 52-63. 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, $364 millions; (2) United States savings bonds: commercial banks, $221 millions; savings banks, $111 millions; insurance companies, $148 millions; all institutions, $480 millions; (3) Treasury savings notes: commercial banks, $54 millions; insurance companies, $24 millions; all institutions, $78 millions; (4) Commodity Credit Corporation demand obligations: holdings of these obligations are not reported.
2/ Excludes certain banks which accept demand deposits and which have been classified as commercial banks. In the Treasury survey for November 30, 1943, the nomenclature "savings banks" replaced that of "mutual savings banks". This change reflected a more nearly correct designation of the nature of the banks included in this category without measurably affecting the comparability of the two classes.
3/ Excludes Exchange Stabilization Fund.
4/ Securitizes the income from which is exempt from the normal rates and the surtax rates of the Federal income tax.
5/ Securitizes 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.)
6/ Excludes obligations sold directly to the Treasury.
PRICES AND YIELDS OF GOVERNMENT SECURITIES
(Including securities issued by Federal agencies)
52
February 1944
53
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the United States Government and by Federal Agencies
January 31, 1944
Table I.- Securities Issued or Guaranteed by the United States Government
PART A - TAXABLE BONDS, NOTES, AND CERTIFICATES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price data (Prices decimals are thirty-secondes)</th><th colspan="3">Yield data 1/</th><th rowspan="2">Date of issue</th><th colspan="4">Price range since first traded 2/ (Price decimals are thirty-secondes)</th><th colspan="4">1943-44 price range 2/ (Price decimals are thirty-secondes)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Dec 31, 1943</th><th>Yield 2/</th><th>Change in yield from Dec 31, 1943</th><th>Maturity yield</th><th colspan="2">High</th><th colspan="2">Low</th><th colspan="2">High</th><th colspan="2">Low</th></tr><tr><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th><th>Price</th><th>Date</th></tr></table>
Issued by U. S. Government
<table><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><td></td><td></td><td></td><td></td></tr><tr><td>$1,115</td><td>2/3/48 - 3/15/48-50</td><td>101.29</td><td>101.31</td><td>101.30</td><td>-.03</td><td>1.51%</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>8/10/43</td><td>101.08</td><td>1/2/43</td></tr><tr><td>3,062</td><td>1-3/44 - 6/15/48</td><td>101.08</td><td>101.10</td><td>101.09</td><td>.00</td><td>1.45</td><td>.00</td><td>1.77</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>8/12/43</td><td>100.08</td><td>1/12/43</td></tr><tr><td>1,014</td><td>2/4 - 6/15/49-51</td><td>101.17</td><td>101.19</td><td>101.18</td><td>.01</td><td>1.69</td><td>-.01</td><td>1.82</td><td>1/15/42</td><td>101.20</td><td>1/5/44</td><td>100.06</td><td>8/5/42</td><td>101.20</td><td>1/5/44</td><td>100.20</td><td>4/17/43</td></tr><tr><td>1,292</td><td>2/4 - 9/15/49-51</td><td>101.11*</td><td>101.13*</td><td>101.12</td><td>.00</td><td>1.74</td><td>-.01</td><td>1.81</td><td>5/15/42</td><td>101.14</td><td>1/6/44</td><td>100.04</td><td>10/6/42</td><td>101.14</td><td>1/6/44</td><td>100.15</td><td>4/14/43</td></tr><tr><td>2,098</td><td>2/4 - 12/15/49-51</td><td>101.09</td><td>101.11</td><td>101.10</td><td>.00</td><td>1.76</td><td>-.01</td><td>1.82</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>7/15/43</td><td>100.12</td><td>4/14/43</td></tr><tr><td>1,963</td><td>2/4 - 3/15/50-52</td><td>101.03</td><td>101.05</td><td>101.04</td><td>.05</td><td>1.80</td><td>-.03</td><td>1.85</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>7/14/43</td><td>100.09</td><td>4/14/43</td></tr><tr><td>4,939</td><td>2/4 - 9/15/50-52</td><td>100.24</td><td>100.26</td><td>100.25</td><td>.04</td><td>1.87</td><td>-.03</td><td>1.90</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>7/14/43</td><td>100.08</td><td>5/3/43</td></tr><tr><td>7,986</td><td>2/4 - 9/15/51-53</td><td>100.07+</td><td>100.08+</td><td>100.08</td><td>.02</td><td>1.96</td><td>-.01</td><td>1.97</td><td>9/15/43</td><td>100.09</td><td>1/22/44</td><td>100.03</td><td>11/8/43</td><td>100.09</td><td>1/22/44</td><td>100.03</td><td>11/8/43</td></tr><tr><td>510</td><td>2/4 - 12/15/51-55</td><td>100.10</td><td>100.12</td><td>100.11</td><td>.03</td><td>1.95</td><td>-.02</td><td>1.97</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>7/3/43</td><td>100.04</td><td>11/4/43</td></tr><tr><td>1,024</td><td>2-1/24 - 3/15/52-54</td><td>103.22</td><td>103.24</td><td>103.23</td><td>.04</td><td>2.00</td><td>-.02</td><td>2.09</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>7/17/43</td><td>103.19</td><td>12/31/43</td></tr><tr><td>1,501</td><td>2-1/44 - 6/15/52-55</td><td>101.19</td><td>101.21</td><td>101.20</td><td>.00</td><td>2.04</td><td>.00</td><td>2.09</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>7/19/43</td><td>101.09</td><td>1/2/43</td></tr><tr><td>1,449</td><td>2-1/24 - 3/15/56-58</td><td>103.05</td><td>103.07</td><td>103.06</td><td>.02</td><td>2.20</td><td>.01</td><td>2.24</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>7/6/43</td><td>103.06</td><td>1/31/44</td></tr><tr><td>2,118</td><td>2-1/24 - 6/15/52-67</td><td>5/100.08</td><td>100.10</td><td>100.09</td><td>-.04</td><td>2.48</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>5/29/43</td><td>100.09</td><td>1/31/44</td></tr><tr><td>2,831</td><td>2-1/24 - 12/15/63-68</td><td>5/100.00</td><td>100.01</td><td>100.00</td><td>-.04</td><td>2.50</td><td>.01</td><td>2.50</td><td>12/1/42</td><td>100.26</td><td>6/1/43</td><td>100.00</td><td>1/31/44</td><td>100.26</td><td>6/1/43</td><td>100.00</td><td>1/31/44</td></tr><tr><td>3,762</td><td>2-1/24 - 6/15/64-69</td><td>5/100.00</td><td>100.01</td><td>100.00</td><td>-.02</td><td>2.50</td><td>.00</td><td>2.50</td><td>4/15/43</td><td>100.20</td><td>6/2/43</td><td>100.00</td><td>1/31/44</td><td>100.20</td><td>6/2/43</td><td>100.00</td><td>1/31/44</td></tr><tr><td>3,838</td><td>2-1/24 - 12/15/64-69</td><td>5/100.00</td><td>100.01</td><td>100.00</td><td>-.01</td><td>2.50</td><td>.00</td><td>2.50</td><td>9/15/43</td><td>100.06</td><td>10/30/43</td><td>100.00</td><td>1/31/44</td><td>100.06</td><td>10/30/43</td><td>100.00</td><td>1/31/44</td></tr><tr><td>2,716</td><td>2-1/24 - 9/15/67-72</td><td>100.10</td><td>100.12</td><td>100.11</td><td>.00</td><td>2.48</td><td>.00</td><td>2.48</td><td>10/20/41</td><td>103.15</td><td>11/5/41</td><td>100.01</td><td>1/2/42</td><td>101.06</td><td>7/6/43</td><td>100.11</td><td>1/31/44</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><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>635</td><td>3/44 D - 9/15/44</td><td>99.31</td><td>100.00</td><td>100.00</td><td>.00</td><td>.75</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>6/29/43</td><td>99.21</td><td>1/2/43</td></tr><tr><td>6/1.90%</td><td>D - 3/1/45 1/</td><td>.85%</td><td>.83%</td><td>.84%</td><td>-.02</td><td>-.86</td><td>+.03</td><td>-</td><td>2/1/44</td><td>.84%</td><td>1/31/44</td><td>.86%</td><td>1/24/44</td><td>.84%</td><td>1/31/44</td><td>.86%</td><td>1/24/44</td></tr><tr><td>1,606</td><td>1-1/44 C - 3/15/45</td><td>100.13</td><td>100.14</td><td>100.14</td><td>-.02</td><td>.86</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>7/7/43</td><td>100.04</td><td>1/2/43</td></tr><tr><td>531</td><td>3/44 B - 12/15/45</td><td>99.22+</td><td>99.23+</td><td>99.23</td><td>-.01</td><td>.90</td><td>+.02</td><td>-</td><td>12/18/40</td><td>100.18</td><td>9/9/41</td><td>98.28</td><td>10/16/42</td><td>99.29</td><td>8/11/43</td><td>98.31</td><td>1/2/43</td></tr><tr><td>503</td><td>1/4 - 3/15/46</td><td>100.00</td><td>100.02</td><td>100.01</td><td>.00</td><td>.99</td><td>.00</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>1/10/44</td><td>99.03</td><td>1/2/43</td></tr><tr><td>3,261</td><td>1-1/24 B - 12/15/46</td><td>100.25</td><td>100.26</td><td>100.26</td><td>-.02</td><td>1.21</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>8/16/43</td><td>100.01</td><td>1/2/43</td></tr><tr><td>2,707</td><td>1-1/24 A - 9/15/47</td><td>100.19+</td><td>100.20+</td><td>100.20</td><td>-.03</td><td>1.32</td><td>.02</td><td>-</td><td>7/12/43</td><td>100.24</td><td>1/13/44</td><td>100.16</td><td>10/14/43</td><td>100.24</td><td>1/13/44</td><td>100.16</td><td>10/14/43</td></tr><tr><td>Certificates of Indebtedness 1</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>2,211</td><td>7/84 A - 2/1/44</td><td>2/1</td><td>2/1</td><td>2/1</td><td>-</td><td>2/1</td><td>-</td><td>2/1</td><td>2/1/43</td><td>100%</td><td>1/21/44</td><td>.82%</td><td>1/25/43</td><td>100%</td><td>1/21/44</td><td>.82%</td><td>1/25/43</td></tr><tr><td>5,251</td><td>7/84 B - 4/1/44</td><td>.54%</td><td>.50%</td><td>.52%</td><td>-.02%</td><td>4/15/43</td><td>100%</td><td>1/22/44</td><td>.82%</td><td>5/4/43</td><td>100%</td><td>1/22/44</td><td>.82%</td><td>5/4/43</td><td>100%</td><td>1/22/44</td><td>.82%</td><td>5/4/43</td></tr><tr><td>1,655</td><td>7/84 C - 5/1/44</td><td>.54%</td><td>.50%</td><td>.52%</td><td>-.04%</td><td>5/1/43</td><td>100%</td><td>1/8/44</td><td>.82%</td><td>5/4/43</td><td>100%</td><td>1/8/44</td><td>.82%</td><td>5/4/43</td><td>100%</td><td>1/8/44</td><td>.82%</td><td>5/4/43</td></tr><tr><td>2,545</td><td>7/84 D - 8/1/44</td><td>.73%</td><td>.71%</td><td>.72%</td><td>+.02%</td><td>8/2/43</td><td>100%</td><td>1/22/44</td><td>.79%</td><td>10/15/43</td><td>100%</td><td>1/22/44</td><td>.79%</td><td>10/15/43</td><td>100%</td><td>1/22/44</td><td>.79%</td><td>10/15/43</td></tr><tr><td>4,122</td><td>7/84 E - 9/1/44</td><td>.78%</td><td>.76%</td><td>.77%</td><td>+.04%</td><td>9/15/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>10/15/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>10/15/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>10/15/43</td></tr><tr><td>3,519</td><td>7/84 F - 10/1/44</td><td>.79%</td><td>.77%</td><td>.78%</td><td>+.04%</td><td>10/15/43</td><td>100%</td><td>1/8/44</td><td>.84%</td><td>10/13/43</td><td>100%</td><td>1/8/44</td><td>.84%</td><td>10/13/43</td><td>100%</td><td>1/8/44</td><td>.84%</td><td>10/13/43</td></tr><tr><td>3,540</td><td>7/84 G - 12/1/44</td><td>.80%</td><td>.78%</td><td>.79%</td><td>+.03%</td><td>12/1/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>11/22/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>11/22/43</td><td>100%</td><td>1/10/44</td><td>.83%</td><td>11/22/43</td></tr></table>
Guaranteed by U. S. Government
<table><tr><td>$412</td><td>Commodity Credit Corp. 1-1/8% G. 2/15/45</td><td>100.06</td><td>100.08</td><td>100.07</td><td>.01</td><td>.91$</td><td>-.05$</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>7/8/43</td><td>99.26</td><td>1/2/43</td></tr><tr><td>571</td><td>Reconstruction Finance Corporation W - 4/15/44</td><td>100.03</td><td>100.04</td><td>100.04</td><td>-.02</td><td>.38</td><td>-.40</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>7/1/43</td><td>100.02</td><td>1/3/43</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 Dec. 31, 1943</th><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Dec. 31, 1943</th></tr><tr><td>$1,003</td><td>2/3/44</td><td>11/4/43</td><td>.37%</td><td>.20%</td><td>.28%</td><td>-.06%</td><td>$1,000</td><td>3/16/44</td><td>12/16/43</td><td>.37%</td><td>.30%</td><td>.34%</td><td>-.02%</td></tr><tr><td>1,005</td><td>2/10/44</td><td>11/12/43</td><td>.37</td><td>.20</td><td>.28</td><td>-.06</td><td>1,006</td><td>3/23/44</td><td>12/23/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td></tr><tr><td>1,001</td><td>2/17/44</td><td>11/18/43</td><td>.37</td><td>.20</td><td>.28</td><td>-.06</td><td>1,011</td><td>3/30/44</td><td>12/30/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td></tr><tr><td>1,009</td><td>2/24/44</td><td>11/26/43</td><td>.37</td><td>.20</td><td>.28</td><td>-.06</td><td>1,015</td><td>4/6/44</td><td>1/6/44</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>1,006</td><td>3/2/44</td><td>12/2/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td><td>1,000</td><td>4/13/44</td><td>1/13/44</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td>1,011</td><td>3/9/44</td><td>12/9/43</td><td>.37</td><td>.30</td><td>.34</td><td>-.02</td><td>1,017</td><td>4/20/44</td><td>1/20/44</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>1,017</td><td>4/27/44</td><td>1/27/44</td><td>.37</td><td>.35</td><td>.36</td><td>-</td></tr></table>
(Continued on following page)
54
Treasury Bulletin
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies
January 31, 1944 - (Continued)
Table I.- Securities Issued or Guaranteed by the United States Government - (Continued)
PART C - TAX-EXEMPT BONDS AND NOTES
<table><tr><th rowspan="2">Amount outstanding (Millions)</th><th rowspan="2">Description</th><th colspan="3">Price data (Price decimals are thirty-seconds)</th><th colspan="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">1943-44 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 Dec. 31, 1943</th><th>Yield 1/ Change in yield from Dec. 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>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>Treasury bonds</th><th>1/1/44</th><th>4/15/44-6/11</th><th>100.18*</th><th>100.19*</th><th>100.19</th><th>-0.07</th><th>.31%</th><th>-0.05%</th><th>-</th><th>4/16/34</th><th>111.26</th><th>6/7/39</th><th>99.30</th><th>9/17/34</th><th>103.06</th><th>1/12/43</th><th>100.19</th><th>1/31/44</th></tr><tr><td>$1,519</td><td>1/4</td><td>12/15/44-54</td><td>102.29</td><td>102.30</td><td>102.30</td><td>-.06</td><td>.60</td><td>-.09</td><td>3.67%</td><td>12/15/24</td><td>116.19</td><td>6/22/39</td><td>94.06</td><td>1/11/32</td><td>106.05</td><td>1/5/43</td><td>102.30</td><td>1/31/44</td></tr><tr><td>1,037</td><td>2-3/4%</td><td>9/15/45-47</td><td>103.07</td><td>103.09</td><td>103.08</td><td>-.06</td><td>.73</td><td>+.02</td><td>1.82</td><td>9/16/35</td><td>110.12</td><td>12/12/40</td><td>99.27</td><td>9/17/35</td><td>104.26</td><td>2/13/43</td><td>103.08</td><td>1/31/44</td></tr><tr><td>1,214</td><td>2-1/2%</td><td>12/15/45</td><td>103.08</td><td>103.10</td><td>103.09</td><td>-.05</td><td>.73</td><td>+.01</td><td>-</td><td>12/15/37</td><td>109.24</td><td>12/14/40</td><td>101.31</td><td>12/15/37</td><td>104.18</td><td>2/17/43</td><td>103.09</td><td>1/31/44</td></tr><tr><td>541</td><td>3-3/4%</td><td>3/15/46-56</td><td>106.01</td><td>106.03</td><td>106.02</td><td>-.06</td><td>.86</td><td>-.01</td><td>3.14</td><td>3/15/26</td><td>116.14</td><td>12/14/40</td><td>89.18</td><td>1/12/32</td><td>108.17</td><td>2/2/43</td><td>106.02</td><td>1/31/44</td></tr><tr><td>1,036</td><td>3%</td><td>6/15/46-48</td><td>105.01</td><td>105.03</td><td>105.02</td><td>-.06</td><td>.84</td><td>+.01</td><td>1.79</td><td>6/15/34</td><td>112.28</td><td>12/16/40</td><td>97.28</td><td>9/17/34</td><td>106.21</td><td>1/11/43</td><td>105.02</td><td>1/31/44</td></tr><tr><td>819</td><td>3-1/8%</td><td>6/15/46-49</td><td>105.11</td><td>105.13</td><td>105.12</td><td>-.06</td><td>.83</td><td>.00</td><td>2.06</td><td>6/15/31</td><td>113.19</td><td>12/14/40</td><td>83.05</td><td>1/11/32</td><td>107.01</td><td>1/14/43</td><td>105.12</td><td>1/31/44</td></tr><tr><td>759</td><td>4-1/4%</td><td>10/15/47-52</td><td>111.17</td><td>111.19</td><td>111.18</td><td>-.08</td><td>1.06</td><td>.00</td><td>2.75</td><td>10/16/22</td><td>122.22</td><td>12/14/40</td><td>98.18</td><td>10/8/23</td><td>114.01</td><td>2/3/43</td><td>111.18</td><td>1/31/44</td></tr><tr><td>701</td><td>2%</td><td>12/15/47</td><td>104.02</td><td>104.04</td><td>104.03</td><td>-.01</td><td>.92</td><td>-.01</td><td>-</td><td>12/15/38</td><td>107.20</td><td>12/12/40</td><td>99.14</td><td>9/25/39</td><td>104.17</td><td>6/29/43</td><td>103.30</td><td>1/13/43</td></tr><tr><td>1,223</td><td>2-3/4%</td><td>3/15/48-51</td><td>106.18</td><td>106.20</td><td>106.19</td><td>-.02</td><td>1.11</td><td>-.01</td><td>1.76</td><td>3/16/36</td><td>111.18</td><td>12/12/40</td><td>99.10</td><td>4/1/37</td><td>107.19</td><td>7/7/43</td><td>106.19</td><td>1/31/44</td></tr><tr><td>451</td><td>2-1/2%</td><td>9/15/48</td><td>106.12</td><td>106.14</td><td>106.13</td><td>+.04</td><td>1.07</td><td>-.05</td><td>-</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</td><td>7/26/43</td><td>106.09</td><td>1/3/44</td></tr><tr><td>571</td><td>2%</td><td>12/15/48-50</td><td>104.13</td><td>104.15</td><td>104.14</td><td>+.05</td><td>1.06</td><td>-.05</td><td>1.32</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</td><td>10/7/43</td><td>103.20</td><td>1/2/43</td></tr><tr><td>691</td><td>3-1/8%</td><td>12/15/49-52</td><td>110.06</td><td>110.08</td><td>110.07</td><td>+.02</td><td>1.31</td><td>-.03</td><td>1.87</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</td><td>7/6/43</td><td>110.04</td><td>12/15/43</td></tr><tr><td>1,786</td><td>2-1/2%</td><td>12/15/49-53</td><td>106.16</td><td>106.18</td><td>106.17</td><td>-.01</td><td>1.31</td><td>-.01</td><td>1.78</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</td><td>7/6/43</td><td>105.30</td><td>1/2/43</td></tr><tr><td>1,186</td><td>2-1/2%</td><td>9/15/50-52</td><td>106.29</td><td>106.31</td><td>106.30</td><td>-.04</td><td>1.40</td><td>+.01</td><td>1.63</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</td><td>7/6/43</td><td>106.09</td><td>1/25/43</td></tr><tr><td>1,627</td><td>2-3/4%</td><td>6/15/51-54</td><td>108.30</td><td>109.00</td><td>108.31</td><td>-.02</td><td>1.46</td><td>-.01</td><td>1.80</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</td><td>7/6/43</td><td>107.30</td><td>1/2/43</td></tr><tr><td>755</td><td>3%</td><td>9/15/51-55</td><td>110.31</td><td>111.01</td><td>111.00</td><td>-.01</td><td>1.47</td><td>-.01</td><td>1.94</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</td><td>7/6/43</td><td>110.01</td><td>1/2/43</td></tr><tr><td>1,118</td><td>2-1/4%</td><td>12/15/51-53</td><td>106.09</td><td>106.11</td><td>106.10</td><td>+.09</td><td>1.40</td><td>-.04</td><td>1.56</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</td><td>7/6/43</td><td>104.20</td><td>1/2/43</td></tr><tr><td>725</td><td>2%</td><td>6/15/53-55</td><td>104.31</td><td>105.01</td><td>105.00</td><td>+.10</td><td>1.43</td><td>-.04</td><td>1.52</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</td><td>7/6/43</td><td>103.05</td><td>1/2/43</td></tr><tr><td>681</td><td>2-1/4%</td><td>6/15/54-56</td><td>106.27</td><td>106.29</td><td>106.28</td><td>+.06</td><td>1.53</td><td>-.02</td><td>1.63</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</td><td>7/6/43</td><td>104.23</td><td>1/2/43</td></tr><tr><td>2,611</td><td>2-7/8%</td><td>3/15/55-60</td><td>111.18</td><td>111.20</td><td>111.19</td><td>+.02</td><td>1.73</td><td>-.01</td><td>2.03</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</td><td>7/6/43</td><td>109.04</td><td>1/2/43</td></tr><tr><td>982</td><td>2-3/4%</td><td>9/15/56-5912</td><td>111.03</td><td>111.05</td><td>111.04</td><td>-.03</td><td>1.76</td><td>.00</td><td>1.92</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</td><td>7/6/43</td><td>108.12</td><td>1/2/43</td></tr><tr><td>919</td><td>2-3/4%</td><td>6/15/58-5312</td><td>110.28</td><td>110.30</td><td>110.29</td><td>.00</td><td>1.88</td><td>.00</td><td>2.06</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</td><td>7/6/43</td><td>108.13</td><td>3/24/43</td></tr><tr><td>1,485</td><td>2-3/4%</td><td>12/15/60-6512</td><td>111.11</td><td>111.13</td><td>111.12</td><td>-.01</td><td>1.96</td><td>.00</td><td>2.10</td><td>12/15/38</td><td>112.28</td><td>7/6/43</td><td>99.14</td><td>9/25/39</td><td>112.28</td><td>7/6/43</td><td>108.26</td><td>3/24/43</td></tr><tr><th>Other bonds 13/</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>16</td><td>3%</td><td>Conversion - 1/1/46</td><td>104.24</td><td>105.00</td><td>104.28</td><td>-.08</td><td>.44</td><td>+.02</td><td>-</td><td>1/2/16</td><td>115.00</td><td>1935</td><td>75.00</td><td>1920</td><td>107.08</td><td>1/11/43</td><td>104.28</td><td>1/31/44</td></tr><tr><td>13</td><td>3%</td><td>Conversion - 1/1/47</td><td>106.28</td><td>107.08</td><td>107.02</td><td>.00</td><td>.56</td><td>-.06</td><td>-</td><td>1/1/17</td><td></td><td></td><td></td><td></td><td>109.00</td><td>1/11/43</td><td>107.02</td><td>1/31/44</td></tr><tr><td>50</td><td>3%</td><td>Panama Canal - 6/1/61</td><td>130.00</td><td>131.24</td><td>130.28</td><td>-.04</td><td>1.05</td><td>.00</td><td>-</td><td>6/1/11</td><td>131.00</td><td>1/17/44</td><td>75.00</td><td>6/18/21</td><td>131.00</td><td>1/17/44</td><td>127.30</td><td>1/11/43</td></tr><tr><th>Treasury notes</th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th><th></th></tr><tr><td>515</td><td>1%</td><td>B- 3/15/44</td><td>100.02</td><td>100.03</td><td>100.02</td><td>-.02</td><td>.47</td><td>+.10</td><td>-</td><td>11/1/39</td><td>102.15</td><td>11/9/40</td><td>100.02</td><td>1/31/44</td><td>100.24</td><td>2/5/43</td><td>100.02</td><td>1/31/44</td></tr><tr><td>416</td><td>3/4%</td><td>A- 6/15/44</td><td>100.04</td><td>100.05</td><td>100.04</td><td>-.02</td><td>.41</td><td>-.08</td><td>-</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>2/15/43</td><td>100.04</td><td>1/31/44</td></tr><tr><td>283</td><td>1%</td><td>C- 9/15/44</td><td>100.14</td><td>100.16</td><td>100.15</td><td>-.03</td><td>.24</td><td>+.05</td><td>-</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>7/6/43</td><td>100.15</td><td>1/31/44</td></tr><tr><td>718</td><td>3/4%</td><td>A- 3/15/45</td><td>100.16</td><td>100.17</td><td>100.16</td><td>-.04</td><td>.30</td><td>+.07</td><td>-</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>7/15/43</td><td>100.16</td><td>1/31/44</td></tr></table>
Guaranteed by U. S. Government 10/
<table><tr><td></td><td>Federal Farm Mortgage Corp.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>$95</td><td>3-1/4 - 3/15/44-64</td><td>100.10</td><td>100.11</td><td>100.10</td><td>-.07</td><td>.60%</td><td>+0.04</td><td>3.23%</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>1/5/43</td><td>100.10</td><td>1/31/44</td></tr><tr><td>835</td><td>3/4 - 5/15/44-49</td><td>100.22*</td><td>100.23*</td><td>100.23</td><td>-.07</td><td>.48</td><td>+0.05</td><td>2.85</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>1/5/43</td><td>100.23</td><td>1/31/44</td></tr><tr><td></td><td>Home Owners' Loan Corp.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>779</td><td>3/4 1- 5/1/44-52</td><td>100.19*</td><td>100.20*</td><td>100.20</td><td>-.06</td><td>.47</td><td>-.04</td><td>2.91</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>1/5/43</td><td>100.20</td><td>1/31/44</td></tr><tr><td>755</td><td>1-1/24 1- 6/1/45-47</td><td>101.00</td><td>101.01</td><td>101.00</td><td>-.03</td><td>.74</td><td>+0.02</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>101.16</td><td>7/3/43</td><td>101.00</td><td>1/31/44</td></tr><tr><td></td><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><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>114</td><td>1-3/8 1- 2/1/44</td><td>9/</td><td>9/</td><td>9/</td><td>-</td><td>9/</td><td>-</td><td>9/</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>2/13/43</td><td>100.00</td><td>1/29/44</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield column in thirty-eighths.
2/ Prices represent the mean of closing bid and ask quotations in the over-the-counter market except that prices of Treasury, Federal Farm Mortgage Corporation, and Home Owners' Loan Corporation bonds for the period prior to October 1, 1939 represent closing prices on the New York Stock Exchange. "When issued" prices are included beginning October 1, 1939. Dates of highs and lows, in cases of recurrence, are the latest dates.
3/ Computed on mean price to call date when mean price is above par and to maturity date when mean price is below par.
4/ Included in average of long-term taxable Treasury bonds shown later in this chapter.
5/ Security is not transferable to commercial banks until ten years
after issue date. 6/ This security was issued in the amount of $2,126 millions on February 1, 1944. 1/ Quoted on yield basis. 8/ From January 7 through January 25, 1944, quotations are on basis of zero yield plus premium per thousand dollars. The price history ends on January 25, 1944. From January 26 through January 29, 1944, this security was quoted on a price basis. 9/ Not quoted. 10/ Excludes Federal Housing Administration debentures and issues held entirely by Government agencies. 11/ Called on December 12, 1943, for redemption on April 15, 1944. 12/ Included in average of long-term partially tax-exempt Treasury bonds shown later in this chapter. 13/ Excludes postal savings bonds.
February 1944
55
Over-the-Counter Closing Quotations on Public Marketable Securities Issued by the
United States Government and by Federal Agencies January 31, 1944 - (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 data (Price decimals are thirty-econds)</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-econds)</th><th colspan="4">1943-44 price range 2/ (Price decimals are thirty-econds)</th></tr><tr><th>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from Dec.31, 1943</th><th>Yield 3/</th><th>Change in yield from Dec.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><td colspan="17">Federal Land Banké 4/</td></tr><tr><td>$125</td><td>4% - 7/1/44-46</td><td>101.14</td><td>101.18</td><td>101.16</td><td>-.10</td><td>.37%</td><td>+0.06%</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>1/4/43</td><td>101.16</td><td>1/31/44</td></tr><tr><td>71</td><td>4% - 7/15/44-64</td><td>101.18</td><td>101.22</td><td>101.20</td><td>-.10</td><td>.41%</td><td>+0.07%</td><td>7/15/34</td><td>112.02</td><td>12/10/40</td><td>101.20</td><td>1/31/44</td><td>104.28</td><td>1/5/43</td><td>101.20</td><td>1/31/44</td></tr><tr><td>157</td><td>3-1/4% - 5/1/45-55</td><td>103.08</td><td>103.14</td><td>103.11</td><td>-.11</td><td>.56%</td><td>+1.10</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>1/11/43</td><td>103.11</td><td>1/31/44</td></tr><tr><td>230</td><td>3% - 7/1/45-55</td><td>103.12</td><td>103.18</td><td>103.15</td><td>-.08</td><td>.53%</td><td>+0.04</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>2/16/43</td><td>103.15</td><td>1/31/44</td></tr><tr><td>171</td><td>3% - 1/1/46-56</td><td>104.18</td><td>104.26</td><td>104.22</td><td>-.14</td><td>.53%</td><td>+1.12</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>1/6/43</td><td>104.22</td><td>1/31/44</td></tr><tr><td>170</td><td>3% - 5/1/46-56</td><td>105.18</td><td>105.26</td><td>105.22</td><td>-.12</td><td>.45%</td><td>+0.07</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>1/11/43</td><td>105.22</td><td>1/31/44</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>Bid</th><th>Ask</th><th>Mean</th><th>Change in mean from December 31, 1943</th></tr><tr><td>$64</td><td>Federal Home Loan Banks 5/ .85% A - 6/15/44</td><td>12/1/43</td><td>.90%</td><td>.75%</td><td>.82%</td><td>.00%</td></tr><tr><td>22</td><td>Federal Intermediate Credit Banks 5/ .85% - 2/1/44</td><td>5/1/43</td><td>.60</td><td>-</td><td>.60</td><td>.00</td></tr><tr><td>11</td><td>.70% - 2/1/44</td><td>8/2/43</td><td>.60</td><td>-</td><td>.50</td><td>.00</td></tr><tr><td>26</td><td>.85% - 3/1/44</td><td>6/1/43</td><td>.70</td><td>-</td><td>.70</td><td>.00</td></tr><tr><td>25</td><td>.80% - 4/1/44</td><td>7/1/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>25</td><td>3/4% - 4/1/44</td><td>12/1/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>24</td><td>.80% - 5/1/44</td><td>8/2/43</td><td>.75</td><td>-</td><td>.75</td><td>.00</td></tr><tr><td>17</td><td>3/4% - 5/1/44</td><td>12/30/43</td><td>.75</td><td>-</td><td>.75</td><td>-</td></tr><tr><td>15</td><td>.80% - 6/1/44</td><td>9/1/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>17</td><td>.80% - 6/1/44</td><td>12/1/43</td><td>.80</td><td>-</td><td>.80</td><td>.00</td></tr><tr><td>24</td><td>.85% - 7/1/44</td><td>10/1/43</td><td>.85</td><td>-</td><td>.85</td><td>.00</td></tr><tr><td>28</td><td>7/8% - 8/1/44</td><td>11/1/43</td><td>.875</td><td>-</td><td>.875</td><td>.000</td></tr><tr><td>23</td><td>.90% - 9/1/44</td><td>12/1/43</td><td>.90</td><td>-</td><td>.90</td><td>.00</td></tr><tr><td>32</td><td>.90% - 10/2/44</td><td>1/3/44</td><td>.95</td><td>-</td><td>.95</td><td>-</td></tr><tr><td>29</td><td>.95% - 11/1/44</td><td>11/1/43</td><td>.95</td><td>-</td><td>.95</td><td>.00</td></tr></table>
1/ When the price of a security is such as to result in a negative yield, the excess of price over zero yield is given in the yield column in thirty-seconde.
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 recur-
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.
56
Treasury Bulletin
YIELDS OF TREASURY SECURITIES JAN. 31, 1944
Based on Mean of Closing Bid and Asked Quotations
Explanation The points represent yields to call date when prices are above par, and to maturity date when prices are at par or below. The smooth curves for the various classes of points are fitted by eye. Issues for which an exchange offer has been made or which are due or callable in less than 3 months are excluded
February 1944
57
Average Yields of Long-Term Treasury and Corporate Bonds
(Percent per annum)
<table><tr><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th><th>Date</th><th>Partially tax-exempt Treasury bonds 1/</th><th>Taxable Treasury bonds 2/</th><th>High-grade corporate bonds 3/</th></tr><tr><td colspan="11">Monthly Series 4/</td></tr><tr><td>1936-Jan.</td><td>2.80</td><td>-</td><td>3.32</td><td>1939-Jan.</td><td>2.47</td><td>-</td><td>2.96</td><td>1942-Jan.</td><td>2.01</td><td>2.37</td><td>2.76</td></tr><tr><td>Feb.</td><td>2.77</td><td>-</td><td>3.26</td><td>Feb.</td><td>2.44</td><td>-</td><td>2.90</td><td>Feb.</td><td>2.09</td><td>2.39</td><td>2.80</td></tr><tr><td>Mar.</td><td>2.71</td><td>-</td><td>3.24</td><td>Mar.</td><td>2.34</td><td>-</td><td>2.87</td><td>Mar.</td><td>2.00</td><td>2.35</td><td>2.80</td></tr><tr><td>Apr.</td><td>2.68</td><td>-</td><td>3.24</td><td>Apr.</td><td>2.30</td><td>-</td><td>2.92</td><td>Apr.</td><td>1.98</td><td>2.34</td><td>2.77</td></tr><tr><td>May.</td><td>2.66</td><td>-</td><td>3.22</td><td>May.</td><td>2.17</td><td>-</td><td>2.86</td><td>May.</td><td>1.97</td><td>2.35</td><td>2.76</td></tr><tr><td>June.</td><td>2.66</td><td>-</td><td>3.19</td><td>June.</td><td>2.13</td><td>-</td><td>2.78</td><td>June.</td><td>1.97</td><td>2.33</td><td>2.75</td></tr><tr><td>July.</td><td>2.65</td><td>-</td><td>3.18</td><td>July.</td><td>2.16</td><td>-</td><td>2.76</td><td>July.</td><td>2.00</td><td>2.34</td><td>2.74</td></tr><tr><td>Aug.</td><td>2.61</td><td>-</td><td>3.18</td><td>Aug.</td><td>2.21</td><td>-</td><td>2.79</td><td>Aug.</td><td>2.02</td><td>2.34</td><td>2.73</td></tr><tr><td>Sept.</td><td>2.60</td><td>-</td><td>3.15</td><td>Sept.</td><td>2.65</td><td>-</td><td>3.29</td><td>Sept.</td><td>2.03</td><td>2.34</td><td>2.73</td></tr><tr><td>Oct.</td><td>2.62</td><td>-</td><td>3.14</td><td>Oct.</td><td>2.60</td><td>-</td><td>3.14</td><td>Oct.</td><td>2.05</td><td>2.33</td><td>2.72</td></tr><tr><td>Nov.</td><td>2.53</td><td>-</td><td>3.11</td><td>Nov.</td><td>2.46</td><td>-</td><td>2.93</td><td>Nov.</td><td>2.06</td><td>2.34</td><td>2.71</td></tr><tr><td>Dec.</td><td>2.51</td><td>-</td><td>3.07</td><td>Dec.</td><td>2.35</td><td>-</td><td>2.86</td><td>Dec.</td><td>2.09</td><td>2.36</td><td>2.72</td></tr><tr><td>1937-Jan.</td><td>2.47</td><td>-</td><td>3.09</td><td>1940-Jan.</td><td>2.30</td><td>-</td><td>2.81</td><td>1943-Jan.</td><td>2.06</td><td>2.32</td><td>2.70</td></tr><tr><td>Feb.</td><td>2.46</td><td>-</td><td>3.24</td><td>Feb.</td><td>2.32</td><td>-</td><td>2.79</td><td>Feb.</td><td>2.06</td><td>2.32</td><td>2.68</td></tr><tr><td>Mar.</td><td>2.60</td><td>-</td><td>3.36</td><td>Mar.</td><td>2.25</td><td>-</td><td>2.77</td><td>Mar.</td><td>2.08</td><td>2.33</td><td>2.70</td></tr><tr><td>April</td><td>2.80</td><td>-</td><td>3.43</td><td>Apr.</td><td>2.25</td><td>-</td><td>2.74</td><td>Apr.</td><td>2.02</td><td>2.32</td><td>2.68</td></tr><tr><td>May.</td><td>2.76</td><td>-</td><td>3.36</td><td>May.</td><td>2.38</td><td>-</td><td>2.87</td><td>May.</td><td>1.92</td><td>2.30</td><td>2.65</td></tr><tr><td>June.</td><td>2.76</td><td>-</td><td>3.31</td><td>June.</td><td>2.39</td><td>-</td><td>2.93</td><td>June.</td><td>1.85</td><td>2.29</td><td>2.63</td></tr><tr><td>July.</td><td>2.72</td><td>-</td><td>3.27</td><td>July.</td><td>2.28</td><td>-</td><td>2.85</td><td>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>1.80</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>Oct.</td><td>1.81</td><td>2.30</td><td>2.60</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>Nov.</td><td>1.85</td><td>2.32</td><td>2.61</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>Dec.</td><td>1.86</td><td>2.34</td><td>2.63</td></tr><tr><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><td>1944-Jan.</td><td>1.86</td><td>2.34</td><td>2.65</td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>June.</td><td>2.52</td><td>-</td><td>3.15</td><td>June.</td><td>1.91</td><td>-</td><td>2.70</td><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>Aug.</td><td>2.51</td><td>-</td><td>3.10</td><td>Aug.</td><td>1.94</td><td>-</td><td>2.55</td><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>Oct.</td><td>2.48</td><td>-</td><td>3.06</td><td>Oct.</td><td>1.88</td><td>2.23</td><td>2.61</td><td></td><td></td><td></td><td></td></tr><tr><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><td></td><td></td><td></td><td></td></tr><tr><td>Dec.</td><td>2.49</td><td>-</td><td>3.02</td><td>Dec.</td><td>1.96</td><td>2.37</td><td>2.68</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="11">Weekly Series - Saturday Figures 5/</td></tr><tr><td>1943-Aug. 7.</td><td>1.84</td><td>2.28</td><td>2.55</td><td>1943-Oct. 2.</td><td>1.79</td><td>2.30</td><td>2.61</td><td>1943-Dec. 4.</td><td>1.86</td><td>2.34</td><td>2.62</td></tr><tr><td>14.</td><td>1.83</td><td>2.28</td><td>2.57</td><td>9.</td><td>1.80</td><td>2.30</td><td>2.60</td><td>11.</td><td>1.85</td><td>2.34</td><td>2.62</td></tr><tr><td>21.</td><td>1.83</td><td>2.28</td><td>2.59</td><td>16.</td><td>1.82</td><td>2.30</td><td>2.60</td><td>18.</td><td>1.86</td><td>2.34</td><td>2.63</td></tr><tr><td>28.</td><td>1.82</td><td>2.28</td><td>2.58</td><td>23.</td><td>1.81</td><td>2.30</td><td>2.59</td><td>24.</td><td>1.86</td><td>2.34</td><td>2.64</td></tr><tr><td>Sept. 4.</td><td>1.82</td><td>2.30</td><td>2.57</td><td>30.</td><td>1.82</td><td>2.31</td><td>2.59</td><td>31.</td><td>1.87</td><td>2.34</td><td>2.65</td></tr><tr><td>11.</td><td>1.80</td><td>2.30</td><td>2.58</td><td>Nov. 6.</td><td>1.84</td><td>2.32</td><td>2.59</td><td>15.</td><td>1.85</td><td>2.33</td><td>2.62</td></tr><tr><td>18.</td><td>1.80</td><td>2.30</td><td>2.61</td><td>13.</td><td>1.84</td><td>2.32</td><td>2.61</td><td>22.</td><td>1.86</td><td>2.34</td><td>2.65</td></tr><tr><td>25.</td><td>1.80</td><td>2.30</td><td>2.60</td><td>20.</td><td>1.86</td><td>2.34</td><td>2.61</td><td>29.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td colspan="11">Daily Series</td></tr><tr><td>1944-Jan. 1.</td><td>1.86</td><td>2.34</td><td>2.63</td><td>1944-Jan. 12.</td><td>1.86</td><td>2.34</td><td>2.63</td><td>1944-Jan. 24.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>3.</td><td>1.87</td><td>2.34</td><td>2.64</td><td>13.</td><td>1.86</td><td>2.34</td><td>2.63</td><td>25.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>4.</td><td>1.86</td><td>2.34</td><td>2.64</td><td>14.</td><td>1.86</td><td>2.34</td><td>2.64</td><td>26.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>5.</td><td>1.86</td><td>2.33</td><td>2.64</td><td>15.</td><td>1.86</td><td>2.34</td><td>2.64</td><td>27.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>6.</td><td>1.85</td><td>2.33</td><td>2.64</td><td>17.</td><td>1.86</td><td>2.34</td><td>2.66</td><td>28.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>7.</td><td>1.85</td><td>2.33</td><td>2.63</td><td>18.</td><td>1.86</td><td>2.34</td><td>2.65</td><td>29.</td><td>1.86</td><td>2.34</td><td>2.67</td></tr><tr><td>8.</td><td>1.85</td><td>2.33</td><td>2.62</td><td>19.</td><td>1.86</td><td>2.34</td><td>2.64</td><td></td><td></td><td></td><td></td></tr><tr><td>10.</td><td>1.85</td><td>2.33</td><td>2.63</td><td>20.</td><td>1.86</td><td>2.34</td><td>2.65</td><td>31.</td><td>1.87</td><td>2.34</td><td>2.67</td></tr><tr><td>11.</td><td>1.86</td><td>2.33</td><td>2.63</td><td>21.</td><td>1.86</td><td>2.34</td><td>2.66</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td>22.</td><td>1.86</td><td>2.34</td><td>2.65</td><td></td><td></td><td></td><td></td></tr></table>
Basis of Computation: (1) Treasury bond yields are computed on the basis of the mean of bid and ask quotations in the over-the-counter market, beginning September 2, 1941; previously, closing prices on the New York Stock Exchange were used on days when sales took place on the Exchange in a particular issue and the mean of closing bid and ask quotations on the New York Stock Exchange on days when no sales took place. (2) Corporate bond yields are computed on the basis of closing prices on the New York Stock Exchange and the New York Curb Exchange; on days when an issue does not sell, the price of the last preceding sale is used. Back Figures: See "Treasury Bulletin" for July 1941, pages 21-26, and subsequent issues. 1/ Average of partially tax-exempt Treasury bonds neither due nor callable for twelve years. Partially tax-exempt bonds are those the interest on which is exempt from the normal rates of the Federal income tax. (In addition, interest derived from $5,000 aggregate principal amount of partially tax-exempt Treasury
2/ Average of taxable Treasury bonds neither due nor callable for twelve years. Bonds which may not be held by all classes of investors (the 2-1/21's of 6/15/62-67, the 2-1/21's of 12/15/63-68, the 2-1/21's of 6/15/64-69, and the 2-1/21's of 12/15/64-69) are excluded from the average. Taxable bonds are those the interest on which is subject to both the normal and surtax rates of the Federal income tax. This average commenced October 20, 1941.
3/ For discussion of composition of high-grade corporate bond average, see "Treasury Bulletin" for April 1943, page 61.
4/ Monthly averages of daily figures. Prior to April 1, 1938, corporate bonds are averages of Saturday figures.
5/ On days when the exchanges are closed, the date and prices of the previous day are used.
6/ Holiday.
58
Treasury Bulletin
AVERAGE YIELDS OF LONG-TERM TREASURY AND CORPORATE BONDS Monthly Series 1
GOVERNMENT CORPORATIONS AND CREDIT AGENCIES OF THE UNITED STATES
60
Treasury Bulletin
Assets and Liabilities of Government Corporations and Credit Agencies
December 31, 1943
(In millions of dollars)
<table><tr><th rowspan="2">Corporation or agency</th><th rowspan="2">Total</th><th colspan="7">Assets</th><th colspan="3">Interagency assets</th></tr><tr><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>331.3</td><td>235.2</td><td>-</td><td>24.1</td><td>33.8</td><td>-</td><td>36.1</td><td>2.0</td><td>.1</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Commodity Credit Corporation</td><td>1,744.5</td><td>329.5</td><td>-</td><td>6.3</td><td>-</td><td>-</td><td>-</td><td>487.7</td><td>21.2</td><td>-</td><td>-</td><td>899.5</td></tr><tr><td>Disaster Loan Corporation</td><td>20.8</td><td>2.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>16.5</td><td>-</td><td>1.5</td><td>-</td><td>.1</td></tr><tr><td>Export-Import Bank of Washington</td><td>194.5</td><td>135.8</td><td>-</td><td>1.4</td><td>-</td><td>-</td><td>-</td><td>57.1</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Farm Credit Administration</td><td>413.4</td><td>226.2</td><td>-</td><td>10.0</td><td>-</td><td>-</td><td>-</td><td>1.0</td><td>-</td><td>-</td><td>174.0</td><td>2.2</td></tr><tr><td>Farm Security Administration</td><td>528.1</td><td>416.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>33.7</td><td>1.0</td><td>76.7</td><td>-</td><td>.5</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>29.1</td><td>-</td><td>-</td><td>7.1</td><td>636.7</td><td>-</td><td>-</td><td>15.2</td><td>-</td><td>-</td><td>-</td><td>3.9</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>728.5</td><td>30.2</td><td>-</td><td>15.7</td><td>-</td><td>250.0</td><td>438.1</td><td>29.3</td><td>.1</td><td>.4</td><td>-</td><td>16.1</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>1,149.6</td><td>403.3</td><td>-</td><td>6.9</td><td>-</td><td>-</td><td>-</td><td>40.3</td><td>-</td><td>3.8</td><td>-</td><td>7.1</td></tr><tr><td>Federal home loan banks</td><td>294.0</td><td>110.1</td><td>-</td><td>31.3</td><td>151.5</td><td>.4</td><td>-</td><td>.7</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>128.9</td><td>-</td><td>-</td><td>20.6</td><td>62.6</td><td>-</td><td>-</td><td>41.5</td><td>1.2</td><td>.2</td><td>-</td><td>2.7</td></tr><tr><td>Federal intermediate credit banks</td><td>416.4</td><td>243.1</td><td>-</td><td>30.7</td><td>36.0</td><td>-</td><td>-</td><td>2.7</td><td>-</td><td>103.6</td><td>-</td><td>.3</td></tr><tr><td>Federal land banks 5/</td><td>1,980.3</td><td>1,357.9</td><td>-</td><td>42.8</td><td>229.6</td><td>168.8</td><td>17.0</td><td>127.7</td><td>5.1</td><td>7.0</td><td>-</td><td>24.5</td></tr><tr><td>Federal National Mortgage Association</td><td>67.1</td><td>64.6</td><td>-</td><td>-</td><td>-</td><td>.7</td><td>-</td><td>1.5</td><td>-</td><td>-</td><td>-</td><td>.2</td></tr><tr><td>Federal Prison Industries, Inc</td><td>18.3</td><td>-</td><td>-</td><td>7.9</td><td>-</td><td>-</td><td>-</td><td>1.6</td><td>6.5</td><td>-</td><td>-</td><td>2.1</td></tr><tr><td>Federal Public Housing Authority</td><td>550.8</td><td>318.4</td><td>-</td><td>37.9</td><td>7.2</td><td>-</td><td>-</td><td>4.9</td><td>182.5</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>146.8</td><td>-</td><td>-</td><td>1.2</td><td>140.1</td><td>1.2</td><td>-</td><td>4.4</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 4/</td><td>3.4</td><td>3.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Federal Works Agency:</td><td></td><td></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 Works Administration</td><td>72.4</td><td>72.4</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War Public Works - community facilities</td><td>3.7</td><td>3.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,683.2</td><td>1,338.1</td><td>63.3</td><td>35.0</td><td>15.0</td><td>25.0</td><td>-</td><td>4.2</td><td>2.6</td><td>-</td><td>100.0</td><td>97.1</td></tr><tr><td>Inland Waterways Corporation 4/</td><td>24.9</td><td>.4</td><td>-</td><td>.9</td><td>6.6</td><td>-</td><td>-</td><td>.8</td><td>16.2</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>2.6</td><td>2.6</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Panama Railroad Company 4/</td><td>73.6</td><td>-</td><td>-</td><td>12.4</td><td>10.5</td><td>-</td><td>-</td><td>.7</td><td>46.9</td><td>3.1</td><td>-</td><td>.1</td></tr><tr><td>Production credit corporations</td><td>127.5</td><td>-</td><td>-</td><td>.6</td><td>50.5</td><td>-</td><td>76.1</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>.1</td></tr><tr><td>Puerto Rico Reconstruction Administration</td><td>21.9</td><td>6.0</td><td>-</td><td>3.1</td><td>68.3</td><td>-</td><td>6.3</td><td>.3</td><td>1.0</td><td>7,003.3</td><td>360.7</td><td>12.6</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>9,279.9</td><td>1,413.2</td><td>338.3</td><td>3,371</td><td>-</td><td>-</td><td>-</td><td>31.6</td><td>1/</td><td>-</td><td>-</td><td>53.9</td></tr><tr><td>Regional agricultural credit corporations</td><td>64.9</td><td>32.0</td><td>-</td><td>32.4</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>.4</td></tr><tr><td>RFC Mortgage Company, The</td><td>115.6</td><td>101.5</td><td>-</td><td>-</td><td>-</td><td>.4</td><td>-</td><td>2.3</td><td>6.6</td><td>-</td><td>-</td><td>4.8</td></tr><tr><td>Rural Electrification Administration</td><td>367.7</td><td>347.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8.5</td><td>-</td><td>12.0</td><td>-</td><td>-</td></tr><tr><td>Tennessee Valley Authority</td><td>696.6</td><td>-</td><td>-</td><td>11.7</td><td>.1</td><td>-</td><td>-</td><td>7.8</td><td>674.7</td><td>2.2</td><td>-</td><td>.1</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>6,784.5</td><td>15.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>107.9</td><td>34.1</td><td>20.4</td><td>4.6</td><td>-</td><td>6,601.5</td></tr><tr><td>War corporations and activities (World War I) 8/</td><td>4.8</td><td>-</td><td>-</td><td>.6</td><td>.1</td><td>-</td><td>-</td><td>3.5</td><td>-</td><td>-</td><td>-</td><td>.6</td></tr><tr><td>War corporations (World War II) 9/</td><td>8,171.2</td><td>208.4</td><td>1.1</td><td>176.0</td><td>-</td><td>-</td><td>1.1</td><td>696.5</td><td>111.2</td><td>216.6</td><td>-</td><td>6,760.4</td></tr><tr><td>War Shipping Administration</td><td>877.2</td><td>-</td><td>-</td><td>1.6</td><td>-</td><td>-</td><td>-</td><td>264.2</td><td>526.5</td><td>45.9</td><td>-</td><td>38.9</td></tr><tr><td>Other Government agencies 10/</td><td>8,091.5</td><td>25.9</td><td>6.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>8,031.2</td><td>-</td><td>21.6</td></tr><tr><td>Gross total</td><td>45,210.0</td><td>7,443.7</td><td>409.6</td><td>524.4</td><td>1,448.5</td><td>446.6</td><td>682.7</td><td>1,926.0</td><td>1,623.9</td><td>15,512.2</td><td>634.7</td><td>14,557.8</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-16,146.9</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>-15,512.2</td><td>-634.7</td><td></td></tr><tr><td>Net total</td><td>29,063.1</td><td>7,443.7</td><td>409.6</td><td>524.4</td><td>1,448.5</td><td>446.6</td><td>682.7</td><td>1,926.0</td><td>1,623.9</td><td>0</td><td>0</td><td>14,557.8</td></tr></table>
(Continued on following page)
February 1944
61
Assets and Liabilities of Government Corporations and Credit Agencies
December 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>Due to Government corporations and agencies</th><th>Re-serves</th><th>Excess of assets (Total proprietary interest)</th><th>Privately owned</th><th>Total</th><th>Owned by United States 11/</th><th>Capital stock</th><th>Surplus</th><th>Non-stock</th></tr><tr><td>Banker for cooperatives</td><td>1,227.7</td><td>-</td><td>17.8</td><td>103.5</td><td>1.3</td><td>208.7</td><td>7.7</td><td>200.9</td><td>174.0</td><td>26.9</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>1,719.4</td><td>621.7</td><td>297.5</td><td>800.0</td><td>-</td><td>25.0</td><td>-</td><td>25.0</td><td>100.0</td><td>-75.0</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>1.1</td><td>-</td><td>1.1</td><td>-</td><td>-</td><td>20.7</td><td>-</td><td>20.7</td><td>24.0</td><td>-3.3</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1.4</td><td>-</td><td>.2</td><td>-</td><td>1.2</td><td>193.0</td><td>-</td><td>193.0</td><td>175.0</td><td>18.0</td><td>-</td></tr><tr><td>Farm Credit Administration</td><td>211.2</td><td>-</td><td>.2</td><td>-</td><td>211.1</td><td>202.2</td><td>-</td><td>202.2</td><td>-</td><td>-</td><td>202.2</td></tr><tr><td>Farm Security Administration</td><td>217.2</td><td>-</td><td>5.3</td><td>-</td><td>211.9</td><td>310.9</td><td>-</td><td>310.9</td><td>-</td><td>-</td><td>310.9</td></tr><tr><td>Federal Crop Insurance Corporation</td><td>17.8</td><td>-</td><td>10.8</td><td>-</td><td>7.0</td><td>11.3</td><td>-</td><td>11.3</td><td>40.0</td><td>-28.7</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation 1/</td><td>439.2</td><td>936.6</td><td>7.7</td><td>-</td><td>431.5</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>1,041.4</td><td>936.6</td><td>8.7</td><td>-</td><td>95.4</td><td>108.2</td><td>-</td><td>108.2</td><td>100.0</td><td>8.2</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>95.0</td><td>-</td><td>94.3</td><td>-</td><td>.7</td><td>199.0</td><td>74.2</td><td>124.7</td><td>124.7</td><td>-</td><td>-</td></tr><tr><td>Federal Housing Administration</td><td>27.2</td><td>22.9</td><td>4.2</td><td>-</td><td>.2</td><td>101.7</td><td>-</td><td>101.7</td><td>-</td><td>-</td><td>101.7</td></tr><tr><td>Federal intermediate credit banks</td><td>326.9</td><td>-</td><td>326.8</td><td>-</td><td>.1</td><td>89.5</td><td>-</td><td>89.5</td><td>60.0</td><td>29.5</td><td>-</td></tr><tr><td>Federal land banks 5/</td><td>1,501.1</td><td>-</td><td>1,420.3</td><td>-</td><td>1.6</td><td>479.2</td><td>216.9</td><td>262.3</td><td>120.3</td><td>142.0</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>43.5</td><td>-</td><td>1.6</td><td>-</td><td>42.0</td><td>23.6</td><td>-</td><td>23.6</td><td>10.0</td><td>13.6</td><td>-</td></tr><tr><td>Federal Prison Industries, Inc.</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>-</td><td>17.9</td><td>-</td><td>17.9</td><td>-</td><td>13.3</td><td>4.7</td></tr><tr><td>Federal Public Housing Authority</td><td>408.8</td><td>114.8</td><td>-</td><td>283.0</td><td>-</td><td>142.0</td><td>-</td><td>142.0</td><td>1.0</td><td>141.0</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>2.2</td><td>-</td><td>2.2</td><td>-</td><td>-</td><td>144.6</td><td>-</td><td>144.6</td><td>100.0</td><td>44.6</td><td>-</td></tr><tr><td>Federal Security Agency - student war loans 1/</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.4</td><td>-</td><td>3.4</td><td>-</td><td>.1</td><td>3.3</td></tr><tr><td>Federal Works Agency:</td><td></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 Works Administration</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>72.4</td><td>-</td><td>72.4</td><td>-</td><td>-</td><td>72.4</td></tr><tr><td>War Public Works - community facilities</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>3.7</td><td>-</td><td>3.7</td><td>-</td><td>-</td><td>3.7</td></tr><tr><td>Home Owners' Loan Corporation</td><td>1,609.5</td><td>1,544.4</td><td>30.8</td><td>-</td><td>.3</td><td>73.7</td><td>-</td><td>73.7</td><td>200.0</td><td>-126.3</td><td>-</td></tr><tr><td>Island Waterway Corporation 1/</td><td>1.3</td><td>-</td><td>.9</td><td>-</td><td>.4</td><td>23.6</td><td>-</td><td>23.6</td><td>12.0</td><td>11.6</td><td>-</td></tr><tr><td>Interior Department (Indian loans)</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>2.6</td><td>-</td><td>2.6</td><td>-</td><td>-</td><td>2.6</td></tr><tr><td>Fanana Railroad Company 1/</td><td>14.9</td><td>-</td><td>10.3</td><td>-</td><td>.3</td><td>4.3</td><td>-</td><td>58.7</td><td>7.0</td><td>51.7</td><td>-</td></tr><tr><td>Production credit corporations</td><td>.3</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>Puerto Rico Reconstruction Administration</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>21.9</td><td>-</td><td>21.9</td><td>-</td><td>-</td><td>21.9</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>8,548.2</td><td>1,014.6</td><td>580.3</td><td>6,739.6</td><td>88.8</td><td>125.0</td><td>731.7</td><td>731.7</td><td>325.0</td><td>406.7</td><td>-</td></tr><tr><td>Regional agricultural credit corporations</td><td>2.0</td><td>-</td><td>1.6</td><td>-</td><td>.3</td><td>63.0</td><td>-</td><td>63.0</td><td>44.5</td><td>18.5</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>88.1</td><td>-</td><td>3.1</td><td>-</td><td>84.9</td><td>27.5</td><td>-</td><td>27.5</td><td>25.0</td><td>2.5</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>236.6</td><td>-</td><td>-</td><td>-</td><td>236.6</td><td>131.1</td><td>-</td><td>131.1</td><td>-</td><td>-</td><td>131.1</td></tr><tr><td>Tennessee Valley Authority</td><td>81.6</td><td>-</td><td>17.5</td><td>57.0</td><td>2.8</td><td>4.4</td><td>615.0</td><td>615.0</td><td>-</td><td>-</td><td>615.0</td></tr><tr><td>Tennessee Valley Associated Cooperative, Inc.</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>-</td><td>.3</td><td>-</td></tr><tr><td>United States Maritime Commission</td><td>1,415.1</td><td>-</td><td>1,388.6</td><td>-</td><td>1.1</td><td>25.5</td><td>5,369.3</td><td>5,369.3</td><td>-</td><td>-</td><td>5,369.3</td></tr><tr><td>War corporations and activities (World War I) 8/</td><td>.2</td><td>-</td><td>.1</td><td>-</td><td>.1</td><td>.1</td><td>4.6</td><td>4.6</td><td>25.4</td><td>-24.0</td><td>3.3</td></tr><tr><td>War corporations (World War II) 9/</td><td>8,657.5</td><td>-</td><td>2,025.2</td><td>-</td><td>6,631.7</td><td>.5</td><td>-486.2</td><td>-486.2</td><td>186.8</td><td>-694.0</td><td>20.9</td></tr><tr><td>War Shipping Administration</td><td>357.7</td><td>-</td><td>100.8</td><td>-</td><td>1.0</td><td>255.9</td><td>519.5</td><td>519.5</td><td>-</td><td>-</td><td>519.5</td></tr><tr><td>Other Government agencies 10/</td><td>216.0</td><td>-</td><td>-</td><td>-</td><td>216.0</td><td>-</td><td>7,875.6</td><td>7,875.6</td><td>6.9</td><td>-</td><td>7,868.7</td></tr><tr><td>Gross total</td><td>27,404.7</td><td>4,255.0</td><td>6,357.1</td><td>7,879.6</td><td>7,632.6</td><td>1,280.4</td><td>17,805.3</td><td>438.2</td><td>17,367.1</td><td>2,131.6</td><td>-15.6</td><td>15,251.2</td></tr><tr><td>Adjustment to eliminate interagency interests</td><td>-15,512.2</td><td>-</td><td>-</td><td>-7,879.6</td><td>-7,632.6</td><td>-</td><td>-634.7</td><td>-634.7</td><td>-633.7</td><td>-1.0</td><td>-</td></tr><tr><td>Net total</td><td>11,892.5</td><td>4,255.0</td><td>6,357.1</td><td>0</td><td>0</td><td>1,280.4</td><td>17,170.5</td><td>438.2</td><td>16,732.4</td><td>1,497.8</td><td>-16.6</td><td>15,251.2</td></tr></table>
Source: Daily Treasury Statement.
* Lees than $50,000.
1/ Excludes unexpended balances of appropriated funds.
2/ Includes deposits with the Reconstruction Finance Corporation and interest thereon.
3/ Represents chiefly commodity loans and underlying security taken over from lending agencies pursuant to guaranty purchase agreements. Also includes commodities acquired through direct purchases from producers and others, as well as interagency transactions of "land-lease" funds which figures are not available, and which would otherwise be shown under "Due from Government corporations and agencies".
4/ Figures shown are as of November 30, 1943, the latest available.
5/ Includes the assets and liabilities of the Federal Land Bank of Louisville and Houston which have retired stock and paid-in surplus previously held by the Federal Government.
6/ Includes the Electric Home and Farm Authority which was transferred for purposes of liquidation to the Reconstruction Finance Corpora-
tion by Executive order effective October 31, 1942.
Adjusted for interagency items and items in transit.
Comprises Navy Department (sale of surplus supplies), U. S. Housing Corporation, U. S. Railroad Administration and U. S. Spruce Production Corporation.
9/ Comprises Cargoees, Inc., Defense Hoses Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, Metale Reserve Company, Petroleum Reserves Corporation, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation.
10/ Comprises Treasury Department and other Government agencies not listed in this statement.
11/ Excludes the interest of the United States represented by obligations held by the Treasury.
62
Treasury Bulletin
Sources of Funds of Certain Government Corporations and Credit Agencies for the First Six 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>$ 1,500,000</td><td>$ 66,292,003</td><td>-</td><td>-</td><td>$459,600</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>-</td><td>$-1,150,000,000</td><td>$ -6,207,544</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>2,000,000</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>29,300,000</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>49,364,759</td><td>-</td><td>-55,499,000</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>5,360,917</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>-196,000,000</td><td>-</td><td>-</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-</td><td>-</td><td>2,001,393,000</td><td>-324,642,000</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>3,922,396</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>2,494,666</td><td>1,543,964</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 1/</td><td>4,000,000</td><td>1,690,685,476</td><td>-</td><td>-</td><td>100,000</td></tr><tr><td>Total</td><td>$13,355,583</td><td>$1,813,808,421</td><td>$ 655,393,000</td><td>$-357,048,544</td><td>$559,600</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 93,635,195</td><td>$ 649,783</td><td>$ 19,252</td><td>$ 162,555,834</td></tr><tr><td>Commodity Credit Corporation</td><td>$1,823,800,612</td><td>727,093</td><td>-230,697</td><td>-6,838,407</td><td>661,251,059</td></tr><tr><td>Disaster Loan Corporation</td><td>19,068</td><td>946,936</td><td>58,818</td><td>-4,076</td><td>1,020,746</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>10,936,498</td><td>7,698,975</td><td>-</td><td>20,635,473</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>13,135,827</td><td>46,156,540</td><td>4,302,080</td><td>63,594,271</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>5,419,436</td><td>72,962,934</td><td>25,106,105</td><td>2,435,155</td><td>105,923,629</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>84,966,056</td><td>2,489,210</td><td>3,500,189</td><td>120,255,455</td></tr><tr><td>Federal National Mortgage Association</td><td>165,821</td><td>100,631,839</td><td>5,462,836</td><td>-98,053,588</td><td>2,072,667</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>1,205,876</td><td>5,333,877</td><td>26,524</td><td>11,927,194</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>-</td><td>-</td><td>3,656,652</td><td>28,880</td><td>3,635,531</td></tr><tr><td>Home Owners' Loan Corporation</td><td>46,233,519</td><td>119,713,184</td><td>37,902,007</td><td>-2,823,996</td><td>5,024,714</td></tr><tr><td>Reconstruction Finance Corporation</td><td>2,347,908</td><td>216,457,565</td><td>44,299,932</td><td>11,799,100</td><td>1,951,655,506</td></tr><tr><td>RFC Mortgage Company, The</td><td>80,120</td><td>19,650,588</td><td>2,121,960</td><td>451,662</td><td>26,227,026</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>6,669,137</td><td>5,308,137</td><td>-2</td><td>16,015,901</td></tr><tr><td>War corporations</td><td>925,434,394</td><td>-27,458,463</td><td>8,694,102</td><td>494,193,877</td><td>3,095,649,387</td></tr><tr><td>Total</td><td>$2,803,501,178</td><td>$714,180,265</td><td>$194,708,237</td><td>$409,036,650</td><td>$6,247,494,395</td></tr></table>
Source: Reports received from the corporations and agencies. 
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations. 
2/ Includes the Electric Home and Farm Authority, which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942. 
3/ Comprises Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation.
Institute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, Metals Reserve Company, Petroleum Reserves Corporation, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation.
February 1944
63
Uses of Funds of Certain Government Corporations and Credit Agencies for the First Six Months, Fiscal Year 1944
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 76,462</td><td>-</td><td>-</td><td>$183,892,214</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>2,714,062</td><td>-</td><td>$1,904,711,390</td><td>139,150,066</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>166,161</td><td>$ 3,900</td><td>-</td><td>195,321</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>125,738</td><td>21</td><td>-</td><td>20,980,730</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>2,041,632</td><td>-</td><td>-</td><td>4,062,726</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>3,957,136</td><td>-</td><td>1,015,332</td><td>12,715,562</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>591,374</td><td>-</td><td>-</td><td>104,842,297</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>490,398</td><td>286,680</td><td>-</td><td>209,184</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>1,411,843</td><td>218,876</td><td>9,042,561</td><td>2,845,031</td><td>-</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>138,721</td><td>12,755</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>4,891,941</td><td>8,979,345</td><td>752,569</td><td>1,286,616</td><td>$1,474,650</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>4,478,374</td><td>-52,846</td><td>-4,956</td><td>134,947,942</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>414,447</td><td>312,635</td><td>-57,143</td><td>23,979,196</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>1,273,929</td><td>-</td><td>-</td><td>9,343,907</td><td>-</td></tr><tr><td>War corporations 3/</td><td>3,916,998</td><td>126,033,435</td><td>2,451,785,362</td><td>-13,650,723</td><td>-</td></tr><tr><td>Total</td><td>$26,689,216</td><td>$135,795,301</td><td>$4,367,245,115</td><td>$624,800,069</td><td>$1,474,650</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net)</th><th>Allocations, re- discounts, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividends paid</th><th>Other expenditures</th><th>Total, uses of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>$-4,336,712</td><td>-</td><td>$ 162,810</td><td>$ 792</td><td>$ 179,795,565</td></tr><tr><td>Commodity Credit Corporation</td><td>-</td><td>$-179,915,330</td><td>5,346,393</td><td>35,952,671</td><td>1,907,959,251</td></tr><tr><td>Disaster Loan Corporation</td><td>-</td><td>555,107</td><td>-</td><td>257</td><td>1,020,746</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>-11,200,000</td><td>10,812,849</td><td>-</td><td>20,719,339</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>65,059,967</td><td>-</td><td>-</td><td>1,183,924</td><td>72,348,248</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>70,300,000</td><td>-</td><td>14,467,937</td><td>1,451,741</td><td>103,907,708</td></tr><tr><td>Federal home loan banks</td><td>-3,089,182</td><td>-</td><td>1,057,984</td><td>340,540</td><td>103,743,013</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>-</td><td>1,103,595</td><td>-17,190</td><td>2,072,667</td></tr><tr><td>Federal Public Housing Authority</td><td>-</td><td>-</td><td>796,172</td><td>5,360,917</td><td>19,675,400</td></tr><tr><td>Federal Savings and Loan Insurance Corporation</td><td>4,000,000</td><td>-</td><td>-</td><td>-659,606 4/</td><td>3,491,870</td></tr><tr><td>Home Owners' Loan Corporation</td><td>-15,056,110</td><td>-</td><td>17,616,831</td><td>77,447</td><td>20,023,789</td></tr><tr><td>Reconstruction Finance Corporation 2/</td><td>-2,000,000</td><td>1,782,023,568</td><td>30,564,174</td><td>-128,770</td><td>1,949,827,486</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>-</td><td>1,280,752</td><td>297,138</td><td>26,227,026</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>-</td><td>3,331,501</td><td>-</td><td>13,949,336</td></tr><tr><td>War corporations 3/</td><td>88,433</td><td>74,802,757</td><td>867,274</td><td>468,812,224</td><td>3,112,655,760</td></tr><tr><td>Total</td><td>$114,966,396</td><td>$1,666,366,102</td><td>$87,408,272</td><td>$512,672,085</td><td>$7,537,417,204</td></tr></table>
Source: Reports received from the corporations and agencies. Data on basis of checks le sued. 1/ Receipts from the repayment of mortgage loans appear under "Repayment of loans" in the statement of sources of funds. 2/ Includes the Electric Home and Farm Authority, which was transferred for purposes of liquidation to the Reconstruction Finance Corporation by Executive order effective October 31, 1942. 3/ Compriees Cargoes, Incorporated, Defense Homea Corporation, Defense Plant Corporation, Defense Supplies Corporation, Insti-
tute of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, Metals Reserve Company, Petroleum Reserves Corporation, Rubber Development Corporation, Rubber Reserve Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation. 4/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
Treasury Bulletin
64
Sources of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through December 31, 1943
<table><tr><th>Corporation or agency</th><th>Appropriations from General Fund of the Treasury 1/</th><th>Allocations, re-discounts, and loans from other government corporations and credit agencies (net)</th><th>Sales of obligations to Treasury (net)</th><th>Sale of obligations in the market (net) 2/</th><th>Sales of stock to other agencies</th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 73,500,000</td><td>$ 83,847,689</td><td>-</td><td>-</td><td>$ 1,738,200</td></tr><tr><td>Commodity Credit Corporation</td><td>243,950,524 3/</td><td>-</td><td>$ 800,000,000</td><td>$ 469,311,000</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>6,000,000</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>64,300,000</td><td>124,741,000 5/</td></tr><tr><td>Federal National Mortgage Association</td><td>-</td><td>40,659,774</td><td>-</td><td>49,000</td><td>11,000,000</td></tr><tr><td>Federal Public Housing Authority</td><td>66,755,628</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>-</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>7,149,765,124</td><td>571,399,000</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>-</td><td>82,172,836</td><td>-</td><td>-</td><td>25,000,000</td></tr><tr><td>Rural Electrification Administration</td><td>142,451,336</td><td>233,094,146</td><td>-</td><td>-</td><td>-</td></tr><tr><td>War corporations 1/</td><td>154,000,000</td><td>6,514,757,224</td><td>-</td><td>-</td><td>36,701,000</td></tr><tr><td>Total</td><td>$1,480,657,488</td><td>$6,960,731,376</td><td>$8,232,765,124</td><td>$5,263,433,750</td><td>$612,479,757</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Sale of other property acquired</th><th>Repayment of loans &/</th><th>Interest, dividends, assessments, and property income</th><th>Other receipts</th><th>Total, sources of funds</th></tr><tr><td>Central Bank for Cooperatives</td><td>-</td><td>$ 508,957,343</td><td>$ 13,182,288</td><td>$ 4,704,065</td><td>$ 685,929,585</td></tr><tr><td>Commodity Credit Corporation</td><td>$5,680,684,605</td><td>1,161,470,269</td><td>41,697,821</td><td>74,495,184</td><td>8,471,609,403</td></tr><tr><td>Disaster Loan Corporation</td><td>191,428</td><td>25,705,073</td><td>975,370</td><td>56,174</td><td>50,928,045</td></tr><tr><td>Export-Import Bank of Washington</td><td>-</td><td>146,811,862</td><td>30,652,918</td><td>707,119</td><td>159,171,899</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>-</td><td>143,606,072</td><td>489,270,764</td><td>5,027,014</td><td>927,403,115</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>37,566,084</td><td>612,441,725</td><td>582,620,613</td><td>26,726,980</td><td>2,289,119,602</td></tr><tr><td>Federal home loan banks</td><td>-</td><td>1,020,054,694</td><td>54,558,262</td><td>90,956,725 9/</td><td>1,354,620,681</td></tr><tr><td>Federal National Mortgage Association</td><td>2,218,643</td><td>203,754,778</td><td>45,998,665</td><td>1,481,654</td><td>305,162,514</td></tr><tr><td>Federal Public Housing Authority</td><td>974,105</td><td>856,678,679</td><td>57,764,340</td><td>1,616,050</td><td>1,380,945,803</td></tr><tr><td>Federal Savings and Loan insurance Corporation</td><td>-</td><td>-</td><td>54,895,048</td><td>2,337,681</td><td>157,232,728</td></tr><tr><td>Homs Owners' Loan Corporation</td><td>293,935,674</td><td>1,500,282,766</td><td>1,120,502,579</td><td>34,804,153</td><td>6,263,978,722</td></tr><tr><td>Reconstruction Finance Corporation 6/</td><td>35,777,113</td><td>6,315,227,016</td><td>822,768,278</td><td>139,914,696</td><td>15,359,851,227</td></tr><tr><td>RFC Mortgage Company, The</td><td>1,203,912</td><td>182,555,847</td><td>21,574,910</td><td>5,946,995</td><td>318,459,493</td></tr><tr><td>Rural Electrification Administration</td><td>-</td><td>31,342,577</td><td>29,815,942</td><td>280</td><td>436,704,281</td></tr><tr><td>War corporations 1/</td><td>2,201,454,216</td><td>87,572,358</td><td>21,279,525</td><td>2,078,911,103</td><td>11,094,675,426</td></tr><tr><td>Total</td><td>$8,254,010,780</td><td>$12,796,461,059</td><td>$1,387,567,323</td><td>$2,467,685,873</td><td>$49,455,792,530</td></tr></table>
Sources:
Reports received from the corporations and agencies
1/ Items in this column are the only ones in this statement which constitute a charge against the Federal Budget. They represent amounts of funds drawn against available appropriations.
2/ Except for the N.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 E.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.
1/ Includes $1,000,000 S.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 repayments 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.
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 t
Total of obligations of the corporation canceled by the
Secretary of the Treasury pursuant to the Act of February 24 1938.
5/ The R.I.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
6/ Includes the Electric Home and Farm Authority which was transferred from the Department of the Interior to the Department of
1/ Comprises Cargoes, Incorporated, Defense Homes Corporation, Defense Plant Corporation, Defense Supplies Corporation, Institutes of Inter-American Affairs, Institute of Inter-American Transportation, Inter-American Educational Foundation, Inc., Inter-American Navigation Corporation, Metals Reserve Company, Petroleum Reserves Corporation, Rubber Development Corporation, Rubber Reserves Company, Smaller War Plants Corporation, U. S. Commercial Company and War Damage Corporation. 8/ Receipts from the sale of property acquired in liquidation of loans are shown as "Sale of other property acquired". 2/ Includes $57,577,050 paid-in capital stock held by member institutions.
February 1944
65
Uses of Funds of Certain Government Corporations and Credit Agencies from Inception of Organization through December 31, 1943
<table><tr><th>Corporation or agency</th><th colspan="2">Expenses</th><th>Purchase and improvement of property owned</th><th>Loans</th><th>Retirement of obligations issued in exchange for mortgages 1/</th></tr><tr><th></th><th>Administrative</th><th>Nonadministrative</th><th></th><th></th><th></th></tr><tr><td>Central Bank for Cooperatives</td><td>$ 1,212,504</td><td>-</td><td>-</td><td>$ 632,204,854</td><td>-</td></tr><tr><td>Commodity Credit Corporation</td><td>18,065,838</td><td>-</td><td>$ 5,594,032,952</td><td>2,585,991,097</td><td>-</td></tr><tr><td>Disaster Loan Corporation</td><td>3,986,198</td><td>$ 142,234</td><td>-</td><td>30,447,558</td><td>-</td></tr><tr><td>Export-Import Bank of Washington</td><td>1,040,757</td><td>18,085</td><td>-</td><td>287,374,090</td><td>-</td></tr><tr><td>Federal Deposit Insurance Corporation</td><td>33,603,223</td><td>-</td><td>-</td><td>201,947,554</td><td>-</td></tr><tr><td>Federal Farm Mortgage Corporation</td><td>97,793,346</td><td>-</td><td>20,715,551</td><td>1,099,246,650</td><td>-</td></tr><tr><td>Federal home loan banks</td><td>12,670,918</td><td>-</td><td>-</td><td>1,130,122,511</td><td>-</td></tr><tr><td>Federal National Mortgage Association</td><td>5,335,489</td><td>5,804,155</td><td>-</td><td>271,290,208</td><td>-</td></tr><tr><td>Federal Public Housing Authority</td><td>24,152,157</td><td>7,958,688</td><td>78,791,723</td><td>1,177,126,344</td><td>-</td></tr><tr><td>Federal Savings and Loan insurance Corporation</td><td>2,060,851</td><td>115,774</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Home Owners' Loan Corporation</td><td>248,704,598</td><td>162,980,887</td><td>156,240,013</td><td>3,274,521,356</td><td>$1,576,418,500 2/</td></tr><tr><td>Reconstruction Finance Corporation 3/</td><td>105,512,475</td><td>12,863,200</td><td>466,852</td><td>8,180,038,542</td><td>-</td></tr><tr><td>RFC Mortgage Company, The</td><td>5,471,253</td><td>5,316,540</td><td>9,749,061</td><td>285,979,402</td><td>-</td></tr><tr><td>Rural Electrification Administration</td><td>19,100,593</td><td>-</td><td>-</td><td>378,496,489</td><td>-</td></tr><tr><td>War corporations 4/</td><td>11,539,256</td><td>190,743,774</td><td>8,712,653,108</td><td>300,468,678</td><td>-</td></tr><tr><td>Total</td><td>$592,249,506</td><td>$385,943,337</td><td>$14,572,649,360</td><td>$19,835,255,333</td><td>$1,576,418,500</td></tr></table>
<table><tr><th>Corporation or agency</th><th>Investments (net) 5/</th><th>Allocations, re-discounte, and loans to other government corporations and credit agencies (net)</th><th>Interest and dividende paid</th><th>Other expenditures</th><th>Total, usage of funds</th></tr><tr><td>Central Bank for Cooperatives....................</td><td>$ 37,422,710</td><td>-</td><td>$ 1,124,044</td><td>$ 3,543,485</td><td>$ 675,507,595</td></tr><tr><td>Commodity Credit Corporation....................</td><td>-</td><td>$ 136,613,196</td><td>$ 49,078,625</td><td>$ 81,579,404</td><td>$ 3,465,361,163</td></tr><tr><td>Disaster Loan Corporation....................</td><td>-</td><td>$ 16,350,606</td><td>-</td><td>$ 448</td><td>$ 50,927,045</td></tr><tr><td>Export-Import Bank of Washington................</td><td>-</td><td>$ 55,550,000</td><td>$ 13,175,178</td><td>$ 593,801</td><td>$ 357,751,911</td></tr><tr><td>Federal Deposit Insurance Corporation............</td><td>$ 638,453,984</td><td>-</td><td>-</td><td>$ 35,162,467</td><td>$ 909,167,228</td></tr><tr><td>Federal Farm Mortgage Corporation............</td><td>$ 688,134,800</td><td>-</td><td>$ 351,846,167</td><td>$ 25,560,260</td><td>$ 2,283,296,874</td></tr><tr><td>Federal home loan banks....................</td><td>$ 151,842,757</td><td>-</td><td>$ 27,840,534</td><td>$ 858,762</td><td>$ 1,323,335,482</td></tr><tr><td>Federal National Mortgage Association............</td><td>-</td><td>-</td><td>$ 22,476,277</td><td>$ 256,385</td><td>$ 305,162,514</td></tr><tr><td>Federal Public Housing Authority............</td><td>$ 7,070,000</td><td>-</td><td>$ 12,271,168</td><td>$ 29,932,966</td><td>$ 1,337,303,046</td></tr><tr><td>Federal Savings and Loan Insurance Corporation....</td><td>$ 141,451,994</td><td>-</td><td>$ 3,035,326</td><td>$ 9,403,198 6/</td><td>$ 156,067,143</td></tr><tr><td>Home Owners' Loan Corporation....................</td><td>$ 203,331,300</td><td>-</td><td>$ 596,815,483</td><td>$ 6,992,026</td><td>$ 6,226,004,163</td></tr><tr><td>Reconstruction Finance Corporation 3/............</td><td>$ 367,041,001</td><td>$ 6,338,840,022</td><td>$ 332,947,729</td><td>$ 18,597,186</td><td>$ 15,357,307,006</td></tr><tr><td>HFC Mortgage Company, The....................</td><td>-</td><td>-</td><td>$ 10,236,259</td><td>$ 705,857</td><td>$ 318,458,372</td></tr><tr><td>Rural Electricatico Administration............</td><td>-</td><td>-</td><td>$ 22,146,731</td><td>$ 371,526</td><td>$ 420,115,740</td></tr><tr><td>War corporations 4/....................</td><td>$ 1,088,433</td><td>$ 250,109,399</td><td>$ 2,416,278</td><td>$ 1,476,657,281</td><td>$ 10,945,576,207</td></tr><tr><td>Total....................</td><td>$2,235,836,979</td><td>$6,797,463,223</td><td>$1,445,409,799</td><td>$1,690,215,052</td><td>$49,131,441,089</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-
5/ Includes U. S. Government bonds in the amount of $822,874,188 as follows: Federal Deposit Insurance Corporation, $561,453,984; Federal Savings and Loan Insurance Corporation, $126,564,500; Federal Public Housing Authority, $7,070,000; Federal home loan banks, $122,135,704; Central Bank for Cooperatives, $5,550,000. 6/ Includes expenditures for contributions and subrogated shares or claims in insured financial institutions.
INTERNAL REVENUE STATISTICS
66
February 1944
67
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>819,656</td><td>419,509</td><td>397,516</td><td>2,631</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1935</td><td>3,281,792</td><td>1,105,788</td><td>527,113</td><td>572,115</td><td>6,560</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>1936</td><td>3,494,330</td><td>1,427,445</td><td>674,416</td><td>738,520</td><td>14,509</td><td>48</td><td>-</td><td>-</td><td>48</td></tr><tr><td>1937</td><td>4,634,308</td><td>2,179,828</td><td>1,091,741</td><td>1,056,909</td><td>31,178</td><td>265,745</td><td>207,339</td><td>58,119</td><td>287</td></tr><tr><td>1938</td><td>5,643,834</td><td>2,629,016</td><td>1,286,312</td><td>1,299,918</td><td>42,786</td><td>742,660</td><td>502,917</td><td>90,267</td><td>149,476</td></tr><tr><td>1939</td><td>5,162,355</td><td>2,185,105</td><td>1,028,834</td><td>1,122,531</td><td>33,740</td><td>740,429</td><td>529,835</td><td>101,167</td><td>109,427</td></tr><tr><td>1940</td><td>5,322,768</td><td>2,129,606</td><td>982,017</td><td>1,120,579</td><td>27,010</td><td>833,521</td><td>605,350</td><td>106,123</td><td>122,048</td></tr><tr><td>1941</td><td>7,351,531</td><td>3,471,122</td><td>1,417,655</td><td>2,016,295</td><td>37,172</td><td>925,856</td><td>687,327</td><td>100,658</td><td>137,871</td></tr><tr><td>1942</td><td>13,029,912</td><td>8,006,880</td><td>3,262,800</td><td>4,687,459</td><td>56,621</td><td>1,185,362</td><td>895,336</td><td>119,617</td><td>170,409</td></tr><tr><td>1943</td><td>22,368,713</td><td>16,298,876</td><td>6,629,932</td><td>9,584,703</td><td>84,241</td><td>1,498,705</td><td>1,131,586</td><td>156,008</td><td>211,151</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>165,299</td><td>204,689</td><td>3,771</td><td>294,338</td><td>184,307</td><td>81,761</td><td>28,270</td></tr><tr><td>March</td><td>5,273,421</td><td>4,858,220</td><td>1,974,909</td><td>2,872,526</td><td>20,785</td><td>26,276</td><td>919</td><td>2,819</td><td>22,538</td></tr><tr><td>April</td><td>1,472,335</td><td>1,007,599</td><td>681,617</td><td>325,154</td><td>828</td><td>120,034</td><td>107,038</td><td>5,849</td><td>7,147</td></tr><tr><td>May</td><td>1,364,980</td><td>753,477</td><td>511,407</td><td>239,127</td><td>2,943</td><td>238,910</td><td>203,410</td><td>9,047</td><td>26,453</td></tr><tr><td>June</td><td>4,383,420</td><td>4,026,494</td><td>1,813,548</td><td>2,205,584</td><td>7,362</td><td>27,747</td><td>2,593</td><td>1,186</td><td>23,968</td></tr><tr><td>July</td><td>1,998,885</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><tr><td>October</td><td>2,179,567</td><td>1,643,578</td><td>1,086,451</td><td>548,414</td><td>8,713</td><td>114,661</td><td>108,405</td><td>5,486</td><td>770</td></tr><tr><td>November</td><td>2,089,229</td><td>1,470,850</td><td>1,147,554</td><td>307,579</td><td>15,717</td><td>242,827</td><td>207,051 r</td><td>8,339</td><td>27,437 r</td></tr><tr><td>December</td><td>5,017,358</td><td>4,590,615</td><td>2,175,565r</td><td>2,410,218r</td><td>4,832r</td><td>38,450</td><td>1,496</td><td>1,086</td><td>35,868</td></tr><tr><td>1944-January</td><td>2,088,486</td><td>1,584,390</td><td>1,039,535</td><td>538,653</td><td>6,202</td><td>122,183</td><td>84,530</td><td>36,859</td><td>794</td></tr></table>
Miscellaneous internal revenue
<table><tr><th>Fiscal year or month</th><th>Total</th><th>Capital stock tax</th><th>Estate and gift taxes</th><th>Alcoholic beverage taxes</th><th>Tobacco taxes</th><th>Stamp taxes</th><th>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>147,156</td><td>371,423</td></tr><tr><td>1935</td><td>1,649,782</td><td>91,508</td><td>212,112</td><td>410,926</td><td>458,776</td><td>43,133</td><td>342,275</td><td>91,052</td><td>526,222</td></tr><tr><td>1936</td><td>2,004,514</td><td>94,943</td><td>378,840</td><td>505,243</td><td>500,786</td><td>68,990</td><td>379,540</td><td>76,172</td><td>62,323</td></tr><tr><td>1937</td><td>2,188,735</td><td>137,499</td><td>305,548</td><td>593,831</td><td>551,923</td><td>69,919</td><td>449,854</td><td>80,161</td><td>-</td></tr><tr><td>1938</td><td>2,272,158</td><td>139,349</td><td>416,874</td><td>567,670</td><td>567,777</td><td>46,233</td><td>416,754</td><td>117,501</td><td>-</td></tr><tr><td>1939</td><td>2,236,821</td><td>127,203</td><td>360,715</td><td>587,605</td><td>579,784</td><td>41,083</td><td>396,891</td><td>143,540</td><td>-</td></tr><tr><td>1940</td><td>2,359,641</td><td>132,739</td><td>360,071</td><td>624,064</td><td>608,072</td><td>38,681</td><td>447,088</td><td>148,926</td><td>-</td></tr><tr><td>1941</td><td>2,954,553</td><td>166,653</td><td>407,058</td><td>819,869</td><td>697,712</td><td>39,057</td><td>617,373</td><td>206,831</td><td>-</td></tr><tr><td>1942</td><td>3,837,670</td><td>281,900</td><td>432,540</td><td>1,048,165</td><td>780,792</td><td>41,702</td><td>852,069</td><td>400,501</td><td>-</td></tr><tr><td>1943</td><td>4,571,132</td><td>328,795</td><td>447,496</td><td>1,423,481</td><td>923,857</td><td>45,155</td><td>670,015</td><td>732,333</td><td>-</td></tr><tr><td>1943-January</td><td>378,504</td><td>209</td><td>46,739</td><td>136,876</td><td>80,565</td><td>3,776</td><td>68,427</td><td>41,912</td><td>-</td></tr><tr><td>February</td><td>330,805</td><td>216</td><td>28,613</td><td>128,299</td><td>68,247</td><td>3,551</td><td>51,459</td><td>50,420</td><td>-</td></tr><tr><td>March</td><td>378,925</td><td>392</td><td>61,042</td><td>120,528</td><td>79,544</td><td>4,419</td><td>47,178</td><td>65,222</td><td>-</td></tr><tr><td>April</td><td>344,702</td><td>888</td><td>36,659</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>46,240</td><td>109,274</td><td>71,339</td><td>5,127</td><td>60,439</td><td>79,981</td><td>-</td></tr><tr><td>June</td><td>389,179</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>125,168</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><tr><td>October</td><td>421,328</td><td>20,063</td><td>40,718</td><td>122,374</td><td>90,013</td><td>3,939</td><td>58,568</td><td>85,653</td><td>-</td></tr><tr><td>November</td><td>375,552</td><td>366</td><td>34,253</td><td>117,303</td><td>93,058</td><td>3,934</td><td>56,156</td><td>70,482</td><td>-</td></tr><tr><td>December</td><td>388,293</td><td>442</td><td>36,443</td><td>120,194</td><td>87,101</td><td>3,999</td><td>64,394</td><td>76,204</td><td>-</td></tr><tr><td>1944-January</td><td>381,913</td><td>59</td><td>52,184</td><td>107,886</td><td>77,211</td><td>4,275</td><td>68,029</td><td>72,269</td><td>-</td></tr></table>
Source: Reports of collections. Revised.
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.
3/ Excess profits tax imposed under the Second Revenue Act of 1940, as amended.
4/ Consists of the declared value excess profits tax, the profit limiting provisions of the Vinson Act, and the tax on unjust enrichment.
5/ For the period prior to September 1939 the data in the columns entitled Federal Insurance Contributions Act and Federal Unemployment Tax Act represent collections under Titles VIII and IX, respectively, of the Social Security Act.
6/ Includes tax collections under the Sugar Act of 1937 and under the dividends tax imposed by the Act of June 16, 1933.
68
Treasury Bulletin
COLLECTIONS OF INTERNAL REVENUE
Fiscal Years 1929 to 1943 First 7 Months Fiscal Year 1944
* Includes miscellaneous profit taxes
February 1944
69
Detailed Analysis of Current Internal Revenue Collections
(In thousands of dollars)
<table><tr><th>Sources of revenue</th><th>January 1944</th><th>Fiscal year 1943</th><th>Fiscal year 1944</th><th>Sources of revenue</th><th>January 1944</th><th>Fiscal year 1943</th><th>Fiscal year 1944</th></tr><tr><td>Income and profits taxes:</td><td></td><td>First 7 months</td><td></td><td>Miscellaneous internal revenue (continued):</td><td></td><td>First 7 months</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>628,542</td><td>-</td><td>2,737,270</td><td>Books, issues of capital stock, deeds of conveyance, etc.</td><td>2,138</td><td>11,443</td><td>15,024</td></tr><tr><td>Victory tax (Revenue Act of 1942)</td><td>1,328</td><td>94</td><td>782,967</td><td>Transfers of capital stock and similar interest sales</td><td>1,585</td><td>6,261</td><td>9,127</td></tr><tr><td>Other:</td><td></td><td></td><td></td><td>Playing cards</td><td>547</td><td>4,158</td><td>4,335</td></tr><tr><td>Current 3/</td><td>396,210</td><td>1,388,852</td><td>5,219,367</td><td>Silver bullion sales or transfers</td><td>5</td><td>89</td><td>33</td></tr><tr><td>Back</td><td>13,455</td><td>74,207</td><td>140,010</td><td>Total stamp taxes</td><td>4,275</td><td>21,951</td><td>28,519</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>3,371</td><td>23,822</td><td>28,928</td></tr><tr><td>Current 3/</td><td>15,763</td><td>1,884,002</td><td>2,422,156</td><td>Gasoline</td><td>17,069</td><td>193,991</td><td>162,693</td></tr><tr><td>Back</td><td>171,021</td><td>159,907</td><td>340,796</td><td>Tires and tubes</td><td>2,556</td><td>8,278</td><td>22,779</td></tr><tr><td>Excise profits taxes (Second Revenue Act of 1940 as amended)</td><td>351,869</td><td>1,653,712</td><td>3,820,402</td><td>Floor taxes on tires and tubes</td><td>*</td><td>56</td><td>24</td></tr><tr><td>Miscellaneous profit taxes:</td><td></td><td></td><td></td><td>Automobile trucks and buses</td><td>158</td><td>3,389</td><td>959</td></tr><tr><td>Declared value</td><td>6,093</td><td>47,030</td><td>62,857</td><td>Other automobiles and motorcycles</td><td>89</td><td>1,162</td><td>870</td></tr><tr><td>Visson Act</td><td>-</td><td>192</td><td>39</td><td>Parts and accessories for automobiles</td><td>2,367</td><td>11,781</td><td>16,752</td></tr><tr><td>Unjust enrichment</td><td>109</td><td>1,330</td><td>366</td><td>Electrical energy</td><td>4,589</td><td>28,478</td><td>29,363</td></tr><tr><td>Total income and profits taxes</td><td>1,584,390</td><td>5,209,326</td><td>15,526,230</td><td>Electric, gas, and oil appliances</td><td>522</td><td>5,536</td><td>2,498</td></tr><tr><td>Employment taxes:</td><td></td><td></td><td></td><td>Electric light bulbs and tubes</td><td>390</td><td>2,205</td><td>2,275</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>30</td><td>506</td><td>157</td></tr><tr><td>Federal Insurance Contributions Act (Old-age insurance)</td><td>84,530</td><td>636,576</td><td>736,327</td><td>Radio sets, phonographs, components, etc.</td><td>307</td><td>4,215</td><td>1,885</td></tr><tr><td>Federal Unemployment Tax Act (Unemployment insurance)</td><td>36,859</td><td>55,345</td><td>66,100</td><td>Photograph records</td><td>256</td><td>1,052</td><td>1,068</td></tr><tr><td>Total Social Security taxes</td><td>121,389</td><td>691,921</td><td>802,427</td><td>Musical instruments</td><td>34</td><td>943</td><td>405</td></tr><tr><td>Carriers' Taxing Act of 1937</td><td>794</td><td>99,478</td><td>123,105</td><td>Mechanical refrigerators, air-conditioners, etc.</td><td>90</td><td>4,229</td><td>1,956</td></tr><tr><td>Total employment taxes</td><td>122,183</td><td>791,399</td><td>925,532</td><td>Matches</td><td>446</td><td>4,431</td><td>4,676</td></tr><tr><td>Miscellaneous internal revenue:</td><td></td><td></td><td></td><td>Floor taxes on matches</td><td>-</td><td>5</td><td>*</td></tr><tr><td>Capital stock tax</td><td>59</td><td>326,740</td><td>378,603</td><td>Business and store machines</td><td>325</td><td>5,324</td><td>1,977</td></tr><tr><td>Estate tax</td><td>50,964</td><td>239,786</td><td>258,380</td><td>Pure - retailers' excise</td><td>9,824</td><td>24,436</td><td>35,138</td></tr><tr><td>Gift tax</td><td>1,220</td><td>5,884</td><td>5,988</td><td>Jewelry - retailers' excise</td><td>17,646</td><td>52,521</td><td>63,965</td></tr><tr><td>Alcoholic beverage taxes:</td><td></td><td></td><td></td><td>Luggage</td><td>403</td><td>3,176</td><td>3,508</td></tr><tr><td>Distilled spirits (imported, excise)</td><td>23,281</td><td>39,549</td><td>131,197</td><td>Optical equipment (repealed as of 11/1/42)</td><td>*</td><td>281</td><td>6</td></tr><tr><td>Distilled spirits (domestic, excise)</td><td>42,049</td><td>429,728</td><td>328,048</td><td>Photographic apparatus</td><td>933</td><td>6,313</td><td>6,952</td></tr><tr><td>Distilled spirits rectification tax</td><td>1,524</td><td>12,170</td><td>10,554</td><td>Rubber articles (repealed as of 11/1/42)</td><td>9</td><td>13,066</td><td>192</td></tr><tr><td>Wines, cordials, etc. (imported, excise)</td><td>339</td><td>345</td><td>1,532</td><td>Sporting goods</td><td>192</td><td>3,012</td><td>1,406</td></tr><tr><td>Wines, cordials, etc. (domestic, excise)</td><td>2,139</td><td>20,932</td><td>15,384</td><td>Toilet preparations - retailers' excise</td><td>6,384</td><td>19,139</td><td>23,773</td></tr><tr><td>Brandy used for fortifying sweet wines (repealed as of July 1, 1940)</td><td>*</td><td>6</td><td>*</td><td>Washing machines (repealed as of 11/1/42)</td><td>1</td><td>35</td><td>32</td></tr><tr><td>Dealers in distilled spirits; restifiers; manufacturer of stils (special taxes)</td><td>102</td><td>5,380</td><td>5,578</td><td>Firearms, shells and cartridges</td><td>44</td><td>1,051</td><td>582</td></tr><tr><td>Stamps for distilled spirits intended for export</td><td>-15</td><td>*</td><td>1</td><td>Pistols and revolvers</td><td>4</td><td>423</td><td>76</td></tr><tr><td>Case stamps for distilled spirits bottled in bond</td><td>210</td><td>895</td><td>1,108</td><td>Repealed taxes not listed above</td><td></td><td></td><td></td></tr><tr><td>Container stamps</td><td>603</td><td>7,035</td><td>4,634</td><td>Total manufacturers' and retailers' excise taxes</td><td>68,029</td><td>422,951</td><td>414,924</td></tr><tr><td>Floor taxes</td><td>197</td><td>67,614</td><td>25,581</td><td>Miscellaneous taxes:</td><td></td><td></td><td></td></tr><tr><td>Fermented malt liquors</td><td>37,422</td><td>251,175</td><td>313,073</td><td>Bituminous Coal Act of 1937</td><td>8</td><td>3,218</td><td>1,360</td></tr><tr><td>Brewers; dealers in malt liquors (special taxes)</td><td>35</td><td>2,561</td><td>2,420</td><td>Sugar Act of 1937</td><td>4,020</td><td>32,825</td><td>41,705</td></tr><tr><td>Total alcoholic beverage taxes</td><td>107,886</td><td>837,390</td><td>839,110</td><td>Telephone, telegraph, radio and cable, leased wires, etc.</td><td>11,856</td><td>42,039</td><td>81,647</td></tr><tr><td>Tobacco taxes:</td><td></td><td></td><td></td><td>Local telephone service</td><td>7,964</td><td>32,251</td><td>52,961</td></tr><tr><td>Cigars (large)</td><td>2,318</td><td>12,130</td><td>16,992</td><td>Transportation of oil by pipe line</td><td>1,094</td><td>8,459</td><td>8,903</td></tr><tr><td>Cigars (small)</td><td>7</td><td>56</td><td>54</td><td>Transportation of persons, estate, berths</td><td>10,591</td><td>37,968</td><td>92,027</td></tr><tr><td>Cigarettes (large)</td><td>6</td><td>15</td><td>40</td><td>Transportation of property (effective 12/1/42)</td><td>17,598</td><td>3,747</td><td>127,363</td></tr><tr><td>Cigarettes (small)</td><td>70,404</td><td>493,613</td><td>559,584</td><td>Use of motor vehicles (effective 2/1/42)</td><td>179</td><td>137,798</td><td>126,043</td></tr><tr><td>Souff</td><td>681</td><td>4,181</td><td>4,446</td><td>Use of boats (effective 2/1/42)</td><td>1</td><td>304</td><td>193</td></tr><tr><td>Tobacco (chewing and smoking)</td><td>3,629</td><td>29,280</td><td>28,587</td><td>Leases of safe-deposit boxes</td><td>522</td><td>3,559</td><td>3,581</td></tr><tr><td>Cigarette papers and tubes</td><td>191</td><td>762</td><td>738</td><td>Admissions to theaters, concerts, cabarets, etc.</td><td>16,745</td><td>92,241</td><td>108,537</td></tr><tr><td>Leaf dealer penalties, etc.</td><td>1</td><td>2</td><td>2</td><td>Club dues and initiation fees</td><td>612</td><td>3,713</td><td>4,191</td></tr><tr><td>Cigarette and cigar floor taxes</td><td>-26</td><td>8,183</td><td>30</td><td>Bowling alleys, pool tables, etc.</td><td>35</td><td>1,574</td><td>1,575</td></tr><tr><td>Total tobacco taxes</td><td>77,211</td><td>548,222</td><td>610,473</td><td>Coin operated devices</td><td>323</td><td>8,755</td><td>15,724</td></tr><tr><td></td><td></td><td></td><td></td><td>Adulterated and processed or renovated butter, mixed flour 1/4 and filled cheese</td><td>2</td><td>22</td><td>18</td></tr><tr><td></td><td></td><td></td><td></td><td>Oleomargarine, including special taxes</td><td>258</td><td>1,724</td><td>2,558</td></tr><tr><td></td><td></td><td></td><td></td><td> Narcotics, including marijuana and special taxes</td><td>28</td><td>397</td><td>405</td></tr><tr><td></td><td></td><td></td><td></td><td>Coconut and other vegetable oils processed</td><td>429</td><td>1,357</td><td>2,441</td></tr><tr><td></td><td></td><td></td><td></td><td>National Firearms Act</td><td>*</td><td>12</td><td>13</td></tr><tr><td></td><td></td><td></td><td></td><td>All other, including repealed taxes not listed above</td><td>4</td><td>40</td><td>17</td></tr><tr><td></td><td></td><td></td><td></td><td>Total miscellaneous taxes</td><td>72,269</td><td>412,003</td><td>671,231</td></tr><tr><td></td><td></td><td></td><td></td><td>Total miscellaneous internal revenue</td><td>381,913</td><td>2,814,927</td><td>3,207,228</td></tr><tr><td></td><td></td><td></td><td></td><td>Total internal revenue</td><td>2,088,486</td><td>8,815,652</td><td>19,658,990</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
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
70
February 1944
71
Gold Assets and Liabilities of the Treasury
(In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Gold Assets</th><th colspan="4">Liabilities</th></tr><tr><th></th><th></th><th>Gold Certificates 1/</th><th>Gold Reserve against U. S. notes, etc. 2/</th><th>Exchange 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>8,959.8</td><td>156.0</td><td>1,800.0</td><td>341.9</td></tr><tr><td>1937</td><td>12,760.0</td><td>9,212.3</td><td>156.0</td><td>1,800.0</td><td>1,591.6</td></tr><tr><td>1938</td><td>14,511.2</td><td>11,872.8</td><td>156.0</td><td>1,800.0</td><td>682.4</td></tr><tr><td>1939</td><td>17,643.4</td><td>15,278.6</td><td>156.0</td><td>1,800.0</td><td>408.9</td></tr><tr><td>1940</td><td>21,994.5</td><td>19,825.4</td><td>156.0</td><td>1,800.0</td><td>213.2</td></tr><tr><td>1941</td><td>22,736.1</td><td>20,564.8</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>1943</td><td>21,937.8</td><td>19,821.0</td><td>156.0</td><td>1,800.0</td><td>160.7</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</td><td>22,175.0</td><td>20,067.1</td><td>156.0</td><td>1,800.0</td><td>151.9</td></tr><tr><td>October</td><td>22,115.7</td><td>20,002.6</td><td>156.0</td><td>1,800.0</td><td>157.1</td></tr><tr><td>November</td><td>22,064.7</td><td>19,953.1</td><td>156.0</td><td>1,800.0</td><td>155.6</td></tr><tr><td>December</td><td>21,937.8</td><td>19,821.0</td><td>156.0</td><td>1,800.0</td><td>160.7</td></tr><tr><td>1944-January</td><td>21,918.1</td><td>19,800.8</td><td>156.0</td><td>1,800.0</td><td>161.3</td></tr></table>
Source: Daily Treasury Statements
1/ Comprises (1) gold certificates held by the public and in Federal Reserve Banks; and (2) gold certificate credits in (a) the
Gold Certificate Fund - Board of Governors, Federal Reserve System, and (b) the Redemption Fund - Federal Reserve notes. Reserves against United States notes and Treasury notes of 1890. Excludes gold in active portion of Exchange Stabilization Fund.
Treasury Gold Receipts
(In millions of dollars at $35 per fine ounce)
Monetary Stocks of Gold and Silver
(In millions of dollars)
<table><tr><th></th><th>Newly-mined domestic gold</th><th>Gold received by importation or released for exportation (-) 1/</th><th>Miscellaneous 2/</th><th>Total</th></tr><tr><td>1938 - Jan.-Mar.........</td><td>38.23</td><td>-7.67</td><td>3.83</td><td>34.39</td></tr><tr><td>Apr.-June............</td><td>40.42</td><td>124.59</td><td>3.54</td><td>168.55</td></tr><tr><td>July-Sept...........</td><td>47.22</td><td>743.96</td><td>5.25</td><td>796.43</td></tr><tr><td>Oct.-Dec...........</td><td>49.12</td><td>701.00</td><td>1.75</td><td>751.87</td></tr><tr><td>1939 - Jan.-Mar.........</td><td>44.40</td><td>699.30</td><td>3.31</td><td>747.01</td></tr><tr><td>Apr.-June............</td><td>43.69</td><td>804.96</td><td>3.11</td><td>851.76</td></tr><tr><td>July-Sept...........</td><td>52.34</td><td>765.95</td><td>3.24</td><td>821.53</td></tr><tr><td>Oct.-Dec...........</td><td>51.62</td><td>657.47</td><td>2.84</td><td>711.93</td></tr><tr><td>1940 - Jan.-Mar.........</td><td>46.77</td><td>739.62</td><td>2.93</td><td>789.32</td></tr><tr><td>Apr.-June............</td><td>46.37</td><td>1,480.79</td><td>3.14</td><td>1,530.30</td></tr><tr><td>July-Sept...........</td><td>52.27</td><td>1,225.88</td><td>3.16</td><td>1,281.31</td></tr><tr><td>Oct.-Dec...........</td><td>73.63</td><td>674.04</td><td>2.50</td><td>750.17</td></tr><tr><td>1941 - Jan.-Mar.........</td><td>49.67</td><td>320.20</td><td>2.59</td><td>372.46</td></tr><tr><td>Apr.-June............</td><td>30.91</td><td>224.76</td><td>1.40</td><td>257.07</td></tr><tr><td>July-Sept...........</td><td>57.05</td><td>76.11</td><td>3.27</td><td>136.43</td></tr><tr><td>Oct.-Dec...........</td><td>49.20</td><td>-75.91</td><td>2.31</td><td>-22.40</td></tr><tr><td>1942 - Jan.-Mar.........</td><td>36.49</td><td>-87.04</td><td>1.86</td><td>-48.69</td></tr><tr><td>Apr.-June............</td><td>30.03</td><td>17.62</td><td>1.43</td><td>49.08</td></tr><tr><td>July-Sept...........</td><td>32.36</td><td>-16.41</td><td>1.62</td><td>17.57</td></tr><tr><td>Oct.-Dec...........</td><td>12.23</td><td>-41.17</td><td>1.11</td><td>-27.83</td></tr><tr><td>1943 - Jan.-Mar.........</td><td>1.24</td><td>-152.40</td><td>.65</td><td>-150.51</td></tr><tr><td>Apr.-June............</td><td>-3.01 3/</td><td>-187.03</td><td>1.77</td><td>-188.27</td></tr><tr><td>July-Sept...........</td><td>6.66</td><td>-219.42</td><td>.35</td><td>-212.41</td></tr><tr><td>Oct.-Dec...........</td><td>-3.23 3/</td><td>-234.93</td><td>.72</td><td>-237.44</td></tr></table>
1/ Includes gold released from earmark or gold placed under earmark.
2/ Comprises domestic coin, secondary gold, etc.
3/ Excess of sales of gold to domestic industry over receipts of newly-mined domestic gold.
<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>4,143.7</td><td>15.5</td></tr><tr><td>1942</td><td>22,736.7</td><td>4,306.3</td><td>15.9</td></tr><tr><td>1943</td><td>22,387.5</td><td>4,298.5</td><td>16.1</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</td><td>22,175.0</td><td>4,233.1</td><td>16.0</td></tr><tr><td>October</td><td>22,115.7</td><td>4,223.7</td><td>16.0</td></tr><tr><td>November</td><td>22,064.7</td><td>4,212.7</td><td>16.0</td></tr><tr><td>December</td><td>21,937.8</td><td>4,207.3</td><td>16.1</td></tr><tr><td>1944-January p</td><td>21,918.1</td><td>4,172.5</td><td>16.0</td></tr></table>
Sources: Daily Treasury Statement and Circulation Statement of United States Money. p. Preliminary.
72
Treasury Bulletin
Components of Silver Monetary Stock
(in millions of dollars)
<table><tr><th rowspan="2">End of calendar year or month</th><th colspan="3">Silver held in Treasury</th><th colspan="2">Silver outside Treasury</th><th rowspan="2">Total silver at $1.29 per ounce</th></tr><tr><th colspan="2">Securing silver certificates 1/</th><th colspan="2">In General Fund</th><th>Silver dollars 1/</th><th>Subsidiary coin 2/</th></tr><tr><th></th><th>Silver bullion</th><th>Silver dollars</th><th>Subsidiary coin 2/</th><th>Bullion for recoining 2/</th><th>Bullion at cost</th><th></th><th></th></tr><tr><td>1934</td><td>211.6</td><td>508.4</td><td>4.2</td><td>8.8</td><td>89.3</td><td>35.2</td><td>305.3</td><td>1,279.7</td></tr><tr><td>1935</td><td>576.9</td><td>508.7</td><td>4.2</td><td>.2</td><td>262.7</td><td>38.4</td><td>323.5</td><td>1,970.1</td></tr><tr><td>1936</td><td>775.9</td><td>505.7</td><td>5.7</td><td>.3</td><td>347.7</td><td>41.3</td><td>350.4</td><td>2,402.3</td></tr><tr><td>1937</td><td>938.8</td><td>503.7</td><td>5.4</td><td>.</td><td>428.6</td><td>43.4</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>1,295.2</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>1943</td><td>1,520.0</td><td>400.4</td><td>14.4</td><td>19.1</td><td>551.8</td><td>96.8</td><td>684.7</td><td>4,207.3</td></tr><tr><td>1944-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</td><td>1,519.7</td><td>426.5</td><td>27.2</td><td>1.5</td><td>567.3</td><td>90.7</td><td>654.8</td><td>4,233.1</td></tr><tr><td>October</td><td>1,519.7</td><td>422.0</td><td>26.5</td><td>3.4</td><td>560.7</td><td>92.3</td><td>663.6</td><td>4,223.7</td></tr><tr><td>November</td><td>1,520.0</td><td>410.3</td><td>21.7</td><td>14.6</td><td>553.8</td><td>94.0</td><td>674.2</td><td>4,212.7</td></tr><tr><td>December</td><td>1,520.0</td><td>400.4</td><td>14.4</td><td>19.1</td><td>551.8</td><td>96.8</td><td>684.7</td><td>4,207.3</td></tr><tr><td>1944-January p.</td><td>1,520.0</td><td>398.6</td><td>17.3</td><td>18.8</td><td>538.8</td><td>95.8</td><td>685.4</td><td>4,172.5</td></tr></table>
Source: Daily Treasury Statement and Circulation Statement of United States Money. p. Preliminary.
1/ Valued at $1.29+ per ounce.
2/ Valued at $1.38+ per ounce.
Silver Production in the United States and Silver Acquisition by Mints and Assay Offices
(In millions of ounces or dollars)
<table><tr><th rowspan="2">Calendar year or month</th><th rowspan="2">Silver production in United States Ounces</th><th colspan="7">Silver acquired by mint and assay offices</th></tr><tr><th colspan="2">Newly mined domestic silver 2/</th><th colspan="2">Rationalised silver 3/</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>65.6</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>61.1</td><td>47.3</td><td>.4</td><td>.2</td><td>271.9</td><td>150.3</td><td>333.4</td><td>197.8</td></tr><tr><td>1937</td><td>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>63.9</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>150.6</td></tr><tr><td>1940</td><td>67.0</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>1943</td><td>45.3</td><td>5.5</td><td>3.9</td><td>-</td><td>-</td><td>-</td><td>-</td><td>5.5</td><td>3.9</td></tr><tr><td>1943-January</td><td>3.8</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</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</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</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</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</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</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>2.8</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>October</td><td>3.4</td><td>.3</td><td>.2</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.3</td><td>.2</td></tr><tr><td>November</td><td>4.1 r</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td></tr><tr><td>December</td><td>4.5</td><td>.2</td><td>.1</td><td>-</td><td>-</td><td>-</td><td>-</td><td>.2</td><td>.1</td></tr><tr><td>1944-January</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 annual figures through 1939; release of American Bureau of Metal Statistics for all later figures. Revised. Less than 50,000. 1/ For information on silver production to other countries from 1933 through 1940 or 1941, see "Treasury Bulletin" for August 1943, page 74. 2/ Acquired at 64.04+ cents per fine ounce until April 9, 1935;
at 71.11 cents per fine ounce from that date until April 23, 1935; at 77.57 cents 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. Acquired at 50.01 cents per fine ounce. Executive Proclamation of August 9, 1934, repealed April 28, 1938. Acquired at various prices averaging approximately 51 cents per ounce. Not yet available.
February 1944
73
Seigniorage on Silver
(Cumulative from January 1, 1934 - In millions of dollars)
<table><tr><th>End of calendar year or month</th><th>Seigniorage on silver and minor coins</th><th colspan="5">Sources of seigniorage on silver bullion revalued 1/</th><th>Potential seigniorage on silver bullion at cost in General Fund 2/</th></tr><tr><th></th><th></th><th>Misc. silver (incl. silver bullion held June 14, 1934)</th><th>Newly-mined silver (Proc. Dec. 21, 1933)</th><th>Newly-mined silver (Act July 6, 1939)</th><th>Silver Purchase Act of June 19, 1934</th><th>Nationalized silver (Proc. of Aug. 9, 1934)</th><th>Total seigniorage on silver revalued</th><th></th></tr><tr><td>1934</td><td>4.5</td><td>48.7</td><td>.4</td><td>-</td><td>51.1</td><td>28.5</td><td>128.7</td><td>132.6</td></tr><tr><td>1935</td><td>18.5</td><td>48.7</td><td>16.8</td><td>-</td><td>226.2</td><td>34.5</td><td>326.2</td><td>274.9</td></tr><tr><td>1936</td><td>46.1</td><td>48.7</td><td>36.0</td><td>-</td><td>302.7</td><td>34.7</td><td>422.1</td><td>397.5</td></tr><tr><td>1937</td><td>63.7</td><td>48.7</td><td>58.0</td><td>-</td><td>366.7</td><td>34.7</td><td>508.1</td><td>541.6</td></tr><tr><td>1938</td><td>69.5</td><td>48.7</td><td>74.9</td><td>-</td><td>457.7</td><td>34.7</td><td>616.0</td><td>758.8</td></tr><tr><td>1939</td><td>91.7</td><td>48.7</td><td>87.3</td><td>4.2</td><td>530.7</td><td>34.7</td><td>705.6</td><td>950.6</td></tr><tr><td>1940</td><td>122.2</td><td>48.7</td><td>87.6</td><td>25.7</td><td>562.7</td><td>34.7</td><td>759.4</td><td>1,055.8</td></tr><tr><td>1941</td><td>182.1</td><td>48.7</td><td>87.6</td><td>48.3</td><td>580.4</td><td>34.7</td><td>799.7</td><td>1,089.0</td></tr><tr><td>1942</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</td><td>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1943-January</td><td>251.0</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,029.7</td></tr><tr><td>February</td><td>257.5</td><td>48.7</td><td>87.6</td><td>63.6</td><td>584.3</td><td>34.7</td><td>818.9</td><td>1,048.4</td></tr><tr><td>March</td><td>264.9</td><td>48.7</td><td>87.6</td><td>63.9</td><td>584.3</td><td>34.7</td><td>819.2</td><td>1,038.9</td></tr><tr><td>April</td><td>271.9</td><td>48.7</td><td>87.6</td><td>64.4</td><td>584.3</td><td>34.7</td><td>819.7</td><td>1,036.6</td></tr><tr><td>May</td><td>277.5</td><td>48.7</td><td>87.6</td><td>64.8</td><td>584.3</td><td>34.7</td><td>820.1</td><td>1,029.5</td></tr><tr><td>June</td><td>280.1</td><td>48.7</td><td>87.6</td><td>65.2</td><td>584.3</td><td>34.7</td><td>820.5</td><td>1,029.5</td></tr><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><tr><td>October</td><td>293.2</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>978.5</td></tr><tr><td>November</td><td>297.1</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>968.7</td></tr><tr><td>December</td><td>299.6</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>967.3</td></tr><tr><td>1944-January</td><td>301.9</td><td>48.7</td><td>87.6</td><td>65.3</td><td>584.3</td><td>34.7</td><td>820.6</td><td>943.9</td></tr></table>
Basic: Daily Treasury Statements. 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 esigniorage thereon changes. 3/ Increase due principally to cumulative adjustment in computing average cost per ounce.
OTHER TREASURY STATISTICS
- 74 -
February 1944
75
Net Capital Movement to the United States, 1935 through November 1943
In thousands of dollars. Net capital outflow (-)
<table><tr><th>Period</th><th>Net capital movement</th><th>Movement in short-term banking funds</th><th>Movement in brokerage balances</th><th>Movement in transactions in domestic securities</th><th>Movement in transactions in foreign securities</th></tr><tr><td colspan="6">Calendar year:</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>197,342</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>551,573</td><td>3,513</td><td>46,599</td><td>-7,364</td></tr><tr><td>1943 (Jan. 1, 1943-Nov. 30, 1943)</td><td>1,238,599</td><td>1,109,207</td><td>10,989</td><td>35,775</td><td>81,528</td></tr><tr><td>Total (Jan. 2, 1935-Nov. 30, 1943)</td><td>7,073,591</td><td>5,318,302</td><td>115,372</td><td>710,105</td><td>929,312</td></tr><tr><td colspan="6">Month:</td></tr><tr><td>1942-November</td><td>66,905</td><td>57,538</td><td>-90</td><td>6,725</td><td>2,732</td></tr><tr><td>December</td><td>73,376</td><td>57,339</td><td>327</td><td>12,338</td><td>3,372</td></tr><tr><td>1943-January</td><td>72,750</td><td>151,809</td><td>2,653</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><tr><td>August</td><td>170,342</td><td>59,027</td><td>1,698</td><td>-5,283</td><td>114,900</td></tr><tr><td>September</td><td>45,011</td><td>1,903</td><td>565</td><td>21,044</td><td>21,499</td></tr><tr><td>October</td><td>133,267</td><td>135,679</td><td>-747</td><td>-687</td><td>-978</td></tr><tr><td>November</td><td>168,979</td><td>163,436</td><td>1,304</td><td>2,715</td><td>1,524</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.
Treas. HJ 10 .A2 1944 c.2
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